&953" 3&("-04 %& /"7*%"%
'*&45"4 $0/ (-".063 "$0.1"µ"%04 103 &%63/& : 30%0-'0
%*$*&.#3& 3&("-04 %& /"7*%"%
&4 5*&.10 %& $"13*$)04
%FTFP EFM MBUÎO EFTJEJVN TFHÙO MB 3"& iNPWJNJFOUP BGFDUJWP IBDJB BMHP RVF TF BQFUFDFw *MVTJÓO EFM MBUÎO JMMVTJP ŘOJT iFTQFSBO[B DVZP DVNQMJNJFOUP QBSFDF FTQFDJBMNFOUF BUSBDUJWPw "Z Z UÙ RVF QFOTBCBT RVF TBOBSÎBT DPO MB FEBE 1FSP PUSP EJDJFNCSF UF IBT WVFMUP B BVUPEJBHOPTUJDBS Z QBSFDF RVF MPT TÎOUPNBT OP SFNJUFO "M DPOUSBSJP MB MJTUB FT DBEB JOWJFSOP NÃT HPSEB UBCMFUB DB[BEPSB OPWFMB NPDIJMB [BQBUPT BMUBWPDFT HBGBT FTRVÎT WJBKF B 5BJQÊJ SFMPK DPO (14 FTF NJOJESÓO nQBSB FTQJBS BM WFDJOPn RVF DPNP FM A(PSEP EFM EÎB FTUF BÒP TÎ DBFSÃ 5SBORVJMJEBE OP FT HSBWF TPMP FT /BWJEBE &M ÙMUJNP NFT EFM BÒP OPT EB FM QFSNJTP QBSB EFMJSBS DPO DPSEVSB QBSB QPOFSMF UBDUP Z OPNCSF B MPT TVFÒPT Z QBSB EFTQBSSBNBS BNPS DPO MB GBNJMJB MPT BNJHPT F JODMVTP DPO OPTPUSPT NJTNPT B USBWÊT EF FTF SFHBMP RVF nUJFOFT MB DFSUF[Bn JMVNJOBSÃ TV SPTUSP DVBOEP IBZB DBÎEP FM QBQFM : OP OP FT MB FEBE FT MB JMVTJÓO /P FT FM UBNBÒP FT FM EFTFP /P FT FM EFSSPDIF FT FM HFTUP &T MB NFEJB TPOSJTB RVF TF OPT EJCVKB USBT MB CVGBOEB DVBOEP OPT BDPSEBNPT EF FTB QFSTPOB BM CPSEFBS VO FTDBQBSBUF &T FM GSÎP RVF BOVODJB MB MMFHBEB EF MPT BCVFMPT FM UJFNQP EF MPT NJNPT Z MPT DBQSJDIPT MB DBMJEF[ EF VOB NFTB SFCPTBOUF EF EVMDFT Z DBWB P MB UFSOVSB EF VO ÃSCPM TJUJBEP EF SFHBMPT TPMP QPS VOB OPDIF 2VF OP UF FOHBÒFO IFNPT TJEP CVFOPT OPT NFSFDFNPT TPÒBS -PT NBHBDJOFT EF NJOVUPT %JSFDUPS "STFOJP &TDPMBS &M NBHBDÎO &YUSB /BWJEBE FT VO QSPEVDUP FMBCPSBEP QPS FM EFQBSUBNFOUP EF 1VCMJDBDJPOFT OP %JBSJBT EF NJOVUPT %JSFDDJÓO 1BCMP 4FHBSSB %JTFÒP %BWJE 7FMBTDP $PPSEJOBDJÓO $MBVEJB 3J[[P .BRVFUBDJÓO .BSUB EF MPT %PMPSFT )FOBS EF 1FESP -BVSB "SDPT .BOVFM 7JMMB Z (PO[BMP $IBDÓO $PMBCPSBEPSFT *LFS .PSÃO Z -BVSB ¦MWBSF[ &%*5" .*/6504 &%*503" 4 - 1VCMJDJEBE )PSUFOTJB 'VFOUFT EJSFDUPSB HFOFSBM (BCSJFM (PO[ÃMF[ EJSFDUPS .BESJE .FSDÍ #PSBTUFSP EJSFDUPSB #BSDFMPOB Z 3PDÎP 0SUJ[ EJSFDUPSB "OEBMVDÎB $PPSEJOBDJÓO Z 5SÃGJDP 3BGBFM .BSUÎO 0QFSBDJPOFT )ÊDUPS .BSÎB #FOJUP 5 * +VBOKP "MPOTP "ENJOJTUSBDJÓO -VJT 0ÒBUF *NQSJNF 3PUPDPCSIJ NJOVUPT $POEFTB EF 7FOBEJUP .BESJE 5FM 'BY NJOVUPTFEJUPSB! NJOVUPT FT %FQÓTJUP -FHBM . 'PUPHSBGÎB EF QPSUBEB 7BMFSP 3JPKB $SÊEJUPT -B DBOUBOUF &EVSOF MMFWB VO WFTUJEP CSPDBEP EF "OESFX (/ Z FM BDUPS 3PEPMGP 4BODIP VOB DIBRVFUB Z QBOUBMÓO EF ;BSB DPO DBNJTB EF 4DBMQFST
3&("-04 %& /"7*%"%
46."3*0
.FOÙT EF MVKP
&YRVJTJUPT SFTUBVSBOUFT QBSB JS B NFTB QVFTUB F JEFBT EF WBSJPT TÙQFSDIFGT QBSB USJVOGBS FO DBTB
.PEB
&TUBT GJFTUBT BUSÊWFUF B EFTBGJBS UV FTUJMP Z QSFQÃSBUF QBSB EFTMVNCSBS FO MBT OPDIFT DMBWF
$PNQMFNFOUPT
%FTDVCSF MPT BDDFTPSJPT EF MB UFNQPSBEB NVTU QBSB DPNQMFUBS DVBMRVJFS MPPL JOWFSOBM RVF TF QSFDJF
N FT SFHBMPT
$POGFDDJPOB UV AXJTI MJTU OBWJEFÒB DPO FM ATIPQQJOH EF SFHBMPT RVF FODPOUSBSÃT FO OVFTUSB QÃHJOB XFC
&EVSOF Z 3PEPMGP 4BODIP -B DBOUBOUF Z FM BDUPS OPT DVFOUBO DÓNP DFMFCSBO MB /BWJEBE Z OPT IBCMBO EF TVT SFTQFDUJWBT DBSSFSBT
#FMMF[B
&EJDJPOFT MJNJUBEBT DPO EJTFÃ’PT DPGSFT Z FTUVDIFT FYDMVTJWPT JNQSFHOBO MB /BWJEBE EF FTFODJBT
&TUF BÒP NÎNBUF DPO VO DBQSJDIP ÙOJDP QBSB UVT TFOUJEPT RVF OBEJF TBCSÃ FMFHJS NFKPS RVF UÙ
.BRVJMMBKF
1FJOBEPT
5PEP FM QPEFS EFM PSP Z FM CSPODF QBSB JMVNJOBS UVT OPDIFT EF GJFTUB #SJMMB Z TFEVDF B QBSUFT JHVBMFT
&TUBT GJFTUBT DPOTJHVF IBDFS WBMFS UV QPEFSPTB NFMFOB TJO QBTBS QPS MB QFMVRVFSÃŽB
)PHBS
5FDOPMPHÃŽB
5V DBTB DPNP UFNQMP %FTDVCSF MBT QSPQVFTUBT QBSB EBSMF VO UPRVF FTQFDJBM FTUF EJDJFNCSF
%FHVTUBS FM QMBDFS DPO MPT DJODP TFOUJEPT 3FHBMB QFOTBOEP DPO Z QBSB FM QBMBEBS `TPSQSÊOEFMFT
1PSRVF MBT KPZBT TPO FUFSOBT UF EBNPT JEFBT QBSB TPSQSFOEFS EF QPS WJEB B UV QFSTPOB GBWPSJUB
1FSGVNFT
(PVSNFU
+PZFSÃŽB
$BQSJDIPT TJO DBCMFT QBSB EBS SJFOEB TVFMUB B FTF VOJWFSTP IBNCSJFOUP EF MPT ÙMUJNPT HBEHFUT
7JBKFT
/P EFKFT RVF UF BOJRVJMF MB USJTUF SVUJOB "QSPWFDIB MBT WBDBDJPOFT Z FTDÃQBUF MFKPT EF MP DPOWFODJPOBM
.ÙTJDB MJCSPT DJOF
&TUB /BWJEBE MMÊOBMFT MB DBCF[B EF QÃKBSPT DPO MBT NFKPSFT QSPQVFTUBT DVMUVSBMFT EFM BÒP
+VHVFUFT
#BSCJFT RVF BTBMUBO MPT DJFMPT Z QJBOPT QPS MPT TVFMPT IBSÃO TVT TVFÒPT SFBMJEBE FTUF BÒP
%FQPSUFT
%FNVÊTUSBMF B MP RVF FSFT DBQB[ EF MPHSBS DPO UV DVFSQP Z MB FRVJQBDJÓO BEFDVBEB
'ZVTC
3&("-04 %& /"7*%"%
%BWJE 3PNFSP Z /BOEV +VCBOZ DIFGT EFM .BKFTUJD )PUFM 4QB EF #BSDFMPOB
."+&45*$ )05&- 41"
&--04 5& -0 (6*4"/ : 5¼ 5& -0 $0.&4
4J QPS /PDIFCVFOB /BWJEBE /PDIFWJFKB Z "ÒP /VFWP OP UF BQFUFDF QPOFSUF FM EFMBOUBM OP QBTB OBEB 4JFNQSF QVFEFT IBDFS VOB SFTFSWB FO BMHVOP EF FTUPT EFMJDJPTPT SFTUBVSBOUFT RVF UF QSPQPOFNPT 1/%
.
J BCVFMB MP EJDF DBEB BÒP iz5Ù TBCFT MP CVFOP RVF FT TFOUBSUF B MB NFTB Z RVF UF TJSWBO w -B GSBTF WJFOF USBT QBTBSTF MB CVFOB TFÒPSB VO EÎB FOUFSP TJO QBSBS FO MB DPDJOB 1SFQBSB QMBUPT Z QMBUPT DPNP TJ GVFTF B BMJNFOUBS B VO CBUBMMÓO EF HFOUF : B OPTPUSPT OPT UPDB DPNFS Z DPNFS DPNP TJ OP IVCJFTF VO NBÒBOB 5BOUP TJ OP UF BQFUFDF JOWFSUJS NVDIP UJFNQP FOUSF GPHPOFT DPNP TJ QSFGJFSFT DPNFS DPO NÃT NFTVSB BIÎ WBO QSPQVFTUBT QBSB DFMFCSBS FTUBT GFDIBT EPOEF NFKPS TF UF BOUPKF
."%3*% )PUFM #BSDFMÓ &NQFSBUSJ[ " SJUNP EF DPWFST Z BDPSEFT EF KB[[ FM IPUFM JODMVZF FO TV DBSUB VO CSVODI EF /BWJEBE RVF QSPNFUF TPSQSFOEFS B UPEPT %JTGSVUB EF VOPT IVFWPT CFOFEJDUJOF P VO TVSUJEP EF TBMBE $ISJTUNBT CJUFT DPNCJOBEPT DPO USBEJDJPOBMFT EVMDFT OBWJEFÒPT QMBUPT DBMJFOUFT Z QPS TVQVFTUP DBWB +VWF
$BNQT " MBT IPSBT TF SFQBSUJSÃO QPSDJPOFT EF VO SPTDÓO NVZ FTQFDJBM 6OB EF FMMBT DPOUFOESÃ VO DPMHBOUF EF EJBNBOUFT EF "SHZPS VOB KPZFSÎB GBNJMJBS [BSBHP[BOB RVF MMFWB DVNQMJFOEP TVFÒPT EFTEF ● 3FTUBVSBOUF .VUJT EFM #BSDFMÓ &NQFSBUSJ[ $ EF -ÓQF[ EF )PZPT %ÎB EF EJDJFNCSF EF B I 1SFDJP à *NQSFTDJOEJCMF SFTFSWBS FO
5IF 8FTUJO 1BMBDF 6OB PCSB EF BSUF DPNFTUJCMF RVF MMFWBSÃ B MPT DPNFOTBMFT EJSFDUBNFOUF B .BSUF -B EPT FTUSFMMBT .JDIFMJO .BSÎB .BSUF QSFUFOEF DPOTFHVJS FTUB IB[BÒB DPO FM NFOÙ FO TJFUF BDUPT RVF IB EJTFÒBEP QBSB 'JO EF "ÒP $PNFO[BNPT BCSJFOEP CPDB DPO GPJF TUFBL UBSUBS Z CMJOJT DPO DBWJBS TFHVJEP EF CPHBWBOUF FO FOTBMBEB SBWJPMJ EF HVJTBOUFT Z BSSP[ EF NBS RVF FT VO USBNQBOUPKP TPSQSFOEFOUF &M QFTDBEP FMFHJEP TFSÃ VO CFTVHP BM IPSOP QBSB DPOUJOVBS DPO QJDBÒB EF 8BHZV DPO FNVMTJÓO EF OÎTDBMPT $PNP QSF QPTUSF OP
QPEÎB GBMUBS TV GBNPTB 'MPS EF IJCJTDVT EF DBSBNFMP DPO FTQVNB EF QJTDP TPVS Z DPNP DPMPGÓO SPDBT EF DIPDPMBUF DPO IFMBEP &M NFOÙ FTUBSÃ BSNPOJ[BEP DPO WJOPT EF MPT IFSFEFSPT EF .BSRVÊT EF 3JTDBM Z DIBNQBHOF -BVSFOU 1FSSJFS .JMMFTJNÊ 5IF 8FTUJO 1BMBDF 1MB[B EF MBT $PSUFT %ÎB EF EJDJFNCSF %F B I 1SFDJP à DFOB EF HBMB Z DPUJMMÓO
-BWFSÓOJDB &M SFTUBVSBOUF EFM CBSSJP EF -BT -FUSBT QSPQPOF FO /PDIFWJFKB VO NFOÙ DBTFSP DPO DSFNB EF WFSEVSBT EJWFSTPT FOUSBOUFT KBNÓO JCÊSJDP EF CFMMPUB TBMNÓO GPJF NFSMV[B TPSCFUF EF NPKJUP Z QPMMP QJDBOUÓO DBTUBÒBT DPO DFCPMMJUB DBSBNFMJ[BEB JODMVZF NBSJEBKF Z VO TVSUJEP EF QPTUSFT " NFEJBOPDIF USBT MBT VWBT DPNFO[BSÃ VOB FMFHBOUF GJFTUB DPO NÃTDBSBT WFOFDJBOBT Z NVDIBT TPSQSFTBT QBSB EFTQFEJS FM 3FTUBVSBOUF -BWFSÓOJDB $ .PSBUÎO %ÎB EF EJDJFNCSF &M NFOÙ TF SFBMJ[B QSFWJP FODBSHP QBSB UPNBS FO FM SFTUBVSBOUF P QBSB MMFWBS 1SFDJP à
'ZVTC
3&("-04 %& /"7*%"%
4BMÓO EFM 5IF 8FTUJO 1BMBDF EF .BESJE
)PUFM "$ 4BOUP .BVSP 4V JDÓOJDP CSVODI EF "ÒP /VFWP OPT TFEVDF DPO VOB QSPQVFTUB NBSJEBEB DPO FM DIBNQBHOF "ZBMB 3PTÊ .BKFVS $VBUSP FOUSBOUFT EVMDFT FOUSF MPT RVF EFTUBDB FM DIPDPMBUF DPO DIVSSPT EF $IPDPMBUFSÎB 4BO (JOÊT DJODP QSJNFSPT B FMFHJS VOP DPO FTQFDJBM NFODJÓO B MB USBEJDJPOBM DSFNB JUBMJBOB EF "ÒP /VFWP P MPT QBODBLFT DBTFSPT TFSWJEPT DPO DSFNB NPOUBEB Z TJSPQF EF BSDF DBOBEJFOTF Z DJODP TFHVOEPT UBNCJÊO B FMFHJS VOP DPNP MB #VSHFS EF "ÒP /VFWP DPO CPMFUVT Z QBSNFTBOP 1BSB UFSNJOBS QSPQPOFO USFT QPTUSFT B FMFHJS )PUFM "$ 4BOUP .BVSP $ ;VSCBOP %ÎB EF FOFSP
1SFDJP Ã *7"
#"3$&-0/" )PUFM .FSDFS &M SFDJÊO JODPSQPSBEP B MB EJSFDDJÓO HBTUSPOÓNJDB EF FTUF TPGJTUJDB EP IPUFM )BSSZ 8JFEJOH TPSQSFOEF QPS /BWJEBE DPO VOB QSPQVFTUB DVMJOBSJB B CBTF EF TBMNÓO Z BOHVJMB BIVNBEB USVDIB SJTTJOJ DPO HBNCB EF 1BMBNÓT UFSOFSB NFMPTB QFSB DBSBNFMJ[BEB Z UVSSPOFT )PUFM .FSDFS $BSSFS EFMT -MFEÓ %ÎB EF EJDJFNCSF 1SFDJP à *ODMVZF WJOPT
)PUFM 1PSUB 'JSB 6OB BUSBDUJWB QSPQVFTUB QBSB /BWJEBE DPO DPDB EF FTDBMJCBEB TBSEJOBT BIVNBEBT P EÙP EF DIJQT USVGBEBT FOUSF TVT FOUSBOUFT $PNP QSJNFS QMBUP MPT DPNFOTBMFT EFHVTUBSÃO FTDVEFMMB Z DBSO E PMMB NJFOUSBT RVF DPNP QSJODJQBM QPESÃO FTDPHFS FOUSF QPMMP SFMMFOP B MB DBUBMBOB P EPSBEB DPO QVSÊ EF USPNQFUBT EF MB NVFSUF CFSCFSFDIPT Z
)PUFM #BMOFBSJP -BT "SFOBT FO 7BMFODJB
+BSEJOFT EFM .BSCFMMB $MVC )PUFM 3FTPSU 4QB
BJSF EF QMBODUPO NBSJOP 6OB USJMPHÎB EF DIPDPMBUFT BM DVCP BEFNÃT EF OFVMBT Z UVSSPOFT QPOESÃO FM CSPDIF EVMDF B MB WFMBEB )PUFM 1PSUB 'JSB 1MBÉB E &VSPQB %ÎB
.¦-"("
-BT "SFOBT (- $ &VHFOJB 7JÃ’FT %ÃŽB EF EJDJFNCSF 1SFDJP Ã *ODMVZF GJFTUB Z CBSSB MJCSF
"OEBMVT 1BMBDF "WFOJEB EF MB 1BMNFSB T O FTR $ 1BSBOÃ %ÎB EF EJDJFNCSF 1SFDJP EFTEF à *ODMVZF WJOPT
.BSCFMMB $MVC )PUFM 3FTPSU 4QB 1BSB MB DFOB EF HBMB EF /PDIFCVFOB FM DIFG +VBO (ÃMWF[ QSPQPOF EF FOUSBOUF VO UBSUBS EF EF EJDJFNCSF 1SFDJP à *ODMVZF WJOPT $BSBCJOFSP TFHVJEP EF VOB DSFNB MJHFSB EF QJOUBEB Z MPNP EF DPSWJOB B MB 1ÔFMF .BKFTUJD )PUFM 4QB .BKFTUVPTP Z QBSB UFSNJOBS DPO BTBEP EF TPMPNJMMP EF FNCMFNÃUJDP FM .BKFTUJD IB EJTFÒBEP EF MB CVFZ FO TBMTB EF CPMFUVT FEVMJT $PNP NBOP EF /BOEV +VCBOZ EJGFSFOUFT NFOÙT QPTUSF TF TFSWJSÃ VOB DSFNB EF OBSBOKB EF /BWJEBE BDPSEF DPO TV FTFODJB &O TBOHVJOB Z .JHOBSEJTFT QBSB MB TPCSFNF /PDIFCVFOB MB DFOB DPOTJTUJSÃ FO TB -B WFMBEB TFSÃ BNFOJ[BEB QPS MPT FOUSBOUFT DPO NFMÓO NPKJUP NPMMFUF EF UÎQJDPT WJMMBODJDPT OBWJEFÒPT .BSCFMMB $MVC (PMG 3FTPSU 4QB "W #VMFWBS 1SÎODJQF "MGPOTP EF KBNÓO + TBMNÓO NBSJOBEP DPO TPKB Z )PIFOMPIF T O %ÎB EF EJDJFNCSF 1SFDJP à DÎUSJDPT Z QBSB UFSNJOBS VO TBMQJDÓO EF CPHBWBOUF " DPOUJOVBDJÓO TFSWJSÃO VOPT DBOFMPOFT EF DFOUPMMB Z VOB NFSMV[B EF $FMFJSP -PT BNBOUFT EFM EVMDF EJTGSVUBSÃO 4&7*--" )PUFM 4JMLFO "M "OEBMVT 1BMBDF 1BSB EF TV USBEJDJPOBM USPODP EF /BWJEBE UVSSPOFT Z CBSRVJMMPT )PUFM .BKFTUJD 1BTTFJH EF EFTQFEJS FM IB QSFQBSBEP VO NFOÙ (SÆDJB %ÎB EF EJDJFNCSF %F B I 1SFDJP RVF DPNJFO[B DPO VO DBQVDIJOP EF GPJF à *ODMVZF WJOPT FTQVNB EF RVFTP BIVNBEP Z GSBNCVFTB DPODIB GJOB DPO VO DFWJDIF IFMBEP -PT DPNFOTBMFT DPOUJOVBSÃO DPO FM $BSBCJOFSP 7"-&/$*" DPO DBCF[B DÎUSJDB DVBKBEJMMP EF BMNFOESBT )PUFM #BMOFBSJP -BT "SFOBT ( )BO IJOPKP Z PSFKB EF +VEBT TFHVJEP EF QSFQBSBEP EF DBSB BM EF EJDJFNCSF VO $PSWJOB BTBEB TPGSJUP BM IPSOP EF OBWBKBT TVDVMFOUP CBORVFUF EF 'JO EF "ÒP RVF OP Z TPQB UJCJB EF FTQÃSSBHPT EF UJFSSB Z NBS EFKBSÃ JOEJGFSFOUF B OBEJF -B WFMBEB /JOHÙO QBMBEBS RVFEBSÃ JOEJGFSFOUF BOUF MB DPNFO[BSÃ DPO VOB RVJODFOB EF BQFSJUJ QBVTB GSFTDB EF GSFTBT Z NJTUFMB IJFSCB WPT DPNP EPOVU EF UPNBUF BMCBIBDB Z CVFOB Z DBOFMB OJ GSFOUF B MB QSFTB JCÊSJDB GPJF PTUSBT DPO UBCBTDP DPO DIBNQBHOF CFMMPUB DPDJOBEB B CBKB UFNQFSBUVSB EF HB[QBDIP Z HFMFÊ EF HJO UPOJD P DPO FYUSBDUP EF UPNBUF CJNJ Z HFM EF TPSCFUF EF QPNFMP DPO $BNQBSJ Z BMNFKB PSFKPOFT QJÒPOFT Z MJNB &M NFOÙ DVMNJOB -F TFHVJSÃO FM FOUSBOUF 'BSUÓO DSVKJFOUF SÃ DPO VO QPTUSF B CBTF EF DIPDPMBUF DPO GPJF Z DIVUOFZ EF IJHPT BTÎ DPNP DÎUSJDPT Z BWFMMBOBT EF JOWJFSOP BDPNQBÒB EJWFSTPT QFTDBEPT Z DBSOFT )PUFM #BMOFBSJP EP QPS EVMDFT EF /BWJEBE )PUFM 4JMLFO "M
'ZVTC
3&("-04 %& /"7*%"%
6/ .&/¼ /"7*%&µ0 %& (3"/%&4 $)&'4
13*.&30 $"3.& 364$"--&%" 4BOU 1BV
$PO USFT &TUSFMMBT .JDIFMJO Z VOB DPDJOB EF WBOHVBSEJB QFHBEB BM UFSSJUPSJP FM NFOÙ AQJDUÓSJDP FT TV ÙMUJNB DSFBDJÓO
$BOFMÓO EF MBOHPTUJOPT WFHFUB MFT Z MFDIF EF UJHSF DPO RVJOPB &TDBMEBNPT MBT DPMBT EF MBOHPTUJOPT Z MBT WFSEVSBT KVEÎB [BOBIPSJB Z DBMBCBDÎO DPSUBEPT FO EBEPT FO BHVB DPO TBM EVSBOUF VO NJOVUP &OGSJBNPT Z SFTFSWBNPT -BT MÃNJOBT FYUFSJPSFT TF QSFQBSBO DPO OBCP EBJLPO B MB WFOUB FO UJFOEBT PSJFOUBMFT DPSUBEP FO MÃNJOBT NVZ GJOBT Z FTDBMEBEP FO BHVB IJSWJFOEP TFHVOEPT 1BSB MB MFDIF EF UJHSF IBDF GBMUB [VNP EF MJNB H [VNP EF MJNÓO H BDFJUF EF PMJWB H BQJP DPSUBEP QFRVFÒP H QJNJFOUPT EFM QJRVJMMP H Z TBM H 5SJUVSBS Z NF[DMBS 1BSB NPOUBS FM DBOFMÓO VOJNPT MÃNJOBT EF OBCP Z SFMMFOBNPT DPO MBOHPTUJOP Z WFHFUBMFT BMJÒBEPT DPO VOB WJOBHSFUB EF BDFJUF WJOBHSF NPTUB[B NFOUB Z QFSFKJM $PMPDBSMPT TPCSF MB TBMTB EF MFDIF EF UJHSF Z DPSPOBS DPO VO QPDP EF RVJOPB OFHSB RVF IBCSFNPT DPDJEP NJOVUPT Z BMJÒBEP DPO BDFJUF Z DFCPMMJOP
$"1*5¦/ '"/&("4 #-"/$0 6WBT WJVSB NBMWBTÎB Z HBSOBDIB CMBODB VOJEBT FO VO WJOP DPNQMFKP Z BDUVBM DPO VOB QSPEVDDJÓO EF NFOPT EF CPUFMMBT 1FSGFDUP QBSB RVJFOFT RVJFSFO DPNQSPCBS RVF FO -B 3JPKB UBNCJÊO TF IBDFO HSBOEFT CMBODPT
/BWJEBE FT FM NFKPS NPNFOUP QBSB MVDJSTF FO MB DPDJOB Z MB NFTB -PT QMBUPT RVF OPT QSPQPOFO USFT EF MPT NFKPSFT DPDJOFSPT EFM QBÎT DPOGPSNBO VO NFOÙ ÙOJDP QBSB JOUFOUBS IBDFS FO DBTB *,&3 .03¦/
4&(6/%0 +03%* $36; "CBD
'VF VOP EF MPT DIFGT DPO &TUSFMMB NÃT KÓWFOFT EFM QBÎT $PNCJOB UFMF Z BMUB DPDJOB FO "CBD TV SFTUBVSBOUF FO #BSDFMPOB
$PDIJOJMMP JCÊSJDP DPO DVTDÙT Z QSBMJOÊ EF BMNFOESBT &M DMÃTJDP DPDIJOJMMP BTBEP nRVF FO "CBD QSFQBSBO B CBKB UFNQFSBUVSB BVORVF FO DBTB IBCSÃ RVF SFDVSSJS BM IPSOP EF TJFNQSFn TF QSFTFOUB BRVÎ BDPNQBÒBEP QPS VO PSJHJOBM DVTDÙT 1SJNFSP EPSBNPT MPT IPOHPT FO VOB TBSUÊO H Z DVBOEP DPKBO DPMPS BÒBEJNPT MB DFCPMMFUB MPT QVFSSPT Z FM BKP *ODPSQPSBNPT SFDPSUFT EF DBSOF ZB BTBEB EF DPDIJOJMMP VOB DVDIBSBEJUB EF SBT BM IBOVU CSBOEJ Z FM DVTDÙT H DPO FM DBMEP $PDFS NJOVUPT Z EFKBS SFQPTBS 1SFQBSBNPT VO QVSÊ EF QBUBUB USBEJDJPOBM nTJ UFOFNPT FTFODJB EF BMNFOESB BNBSHB MP JODMVJNPTn VO QSBMJOÊ EF BMNFOESBT EPSÃOEPMBT FO BDFJUF EVSBOUF VOPT NJOVUPT Z USJUVSÃOEPMBT 1BSB FNQMBUBS TPCSF VOB CBTF EF DVTDÙT BÒBEJNPT FM DPDIJOJMMP CJFO DSVKJFOUF nDPSUBEP FO SBDJPOFTn Z BDPNQBÒBNPT EF QVOUPT EF QVSÊ EF QBUBUB Z QSBMJOÊ %FDPSBNPT DPO TIJTP NPSBEP Z FTDBNBT EF TBM
#-&$6" 6WBT DBCFSOFU TBVWJHOPO NFSMPU UFNQSBOJMMP Z HBSOBDIB EF TJFUF WJÒFEPT TFMFDDJPOBEPT Z VOB DSJBO[B EF NFTFT FO CBSSJDB TPO MB GÓSNVMB QBSB DSFBS FTUF #MFDVB RVF BVORVF BHVBOUBSÃ FM QBTP EF MPT BÒPT WBNPT B EFTDPSDIBS FTUB /BWJEBE
'ZVTC
3&("-04 %& /"7*%"%
$
BEB BÒP QPS FTUBT GFDIBT UPDB FOGSFOUBSTF B MB NJTNB QSFHVOUB zRVÊ DPDJOBNPT QBSB /BWJEBE $PNFS P DFOBS GVFSB FT ZB QBSB NVDIPT VOB PQDJÓO QFSP MB NBZPSÎB PQUB QPS RVFEBSTF FO DBTB FO GBNJMJB Z QSFQBSBS VO NFOÙ FTQFDJBM QBSB MB PDBTJÓO "TÎ RVF IFNPT USBTMBEBEP FTUB QSFHVOUB B USFT EF MPT NFKPSFT DIFGT EFM QBÎT $BSNF 3VTDBMMFEB nMB NVKFS DPO NÃT &TUSFMMBT .JDIFMJO EFM NVOEPn +PSEJ
$SV[ nRVF IB QSPNFUJEP OP TFS UBO EVSP DPO OVFTUSB WFSTJÓO EF TV SFDFUB DPNP FO .BTUFS$IFGn Z MPT UFMFWJTJWPT )FSNBOPT 5PSSFT $IFGT UBO DPOPDJEPT DPNP SFTQFUBEPT FO TVT DPDJOBT Z RVF OPT QSPQPOFO VO NFOÙ DPO FM QVOUP QFSGFDUP EF PSJHJOBMJEBE QBSB BMFKBSTF VO QPDP EF MPT DMÃTJDPT OBWJEFÒPT 6O DBOFMÓO MJHFSP DPO HBNCBT Z WFHFUBMFT QBSB FNQF[BS EF MB DIFG EF 4BOU 1PM EF .BS $PNP QMBUP QSJODJQBM VO DPDIJOJMMP
10453& )&3."/04 5033&4 %PT $JFMPT
%FTEF MB QBOUBMMB IBO DPOTFHVJEP TFEVDJS BM QÙCMJDP %FTEF TV SFTUBVSBOUF DPOWFO DFO B MPT HPVSNFUT NÃT FYJHFOUFT
)FMBEP EF UVSSÓO z: TJ DPOWFSUJNPT FM USBEJDJPOBM UVSSÓO FO VO PSJHJOBM IFMBEP QBSB FM QPTUSF #BUJNPT MB OBUB NM DPO FM B[ÙDBS HMBT H Z VOB QJ[DB EF TBM IBTUB RVF FTUÊ DBTJ NPOUBEB %FTNFOV[BNPT FM UVSSÓO CMBOEP H Z MP NF[DMBNPT DPO MB OBUB 7FSUFNPT UPEP FO NPMEFT EF TJMJDPOB TFNJFTGÊSJDPT nTJ RVFSFNPT VO SFTVMUBEP QBSFDJEP BM EF MB GPUPn Z BM DPOHFMBEPS 1BSB IBDFS MB TBMTB EF DBDBP DBMFOUBNPT NM EF BHVB DPO H EF B[ÙDBS Z DVBOEP FTUÊ EJTVFMUP BÒBEJNPT FM DBDBP FO QPMWP H 6OBT HPUBT EF BNBSFUUP OBUB H NBOUFRVJ MMB H Z NF[DMBNPT CJFO 4BDBNPT FM IFMBEP EFM DPOHFMBEPS EFTNPMEBNPT Z FODJNB EF VOB SFKJMMB DVCSJNPT DPO DIPDPMBUF CMBODP EF DPCFSUVSB RVF IBCSFNPT DBMFOUBEP BM CBÒP NBSÎB $PO FM GSÎP EFM IFMBEP TF TPMJEJGJDBSÃ 4FSWJNPT VUJMJ[BOEP MB TBMTB EF DBDBP DPNP VOB GJOB CBTF P QBSB EFDPSBS QPS FODJNB FTUBT CPMBT EF UVSSÓO IFMBEP
":"-" #365 ."+&63 6O DIBNQÃO DPO VOB SFMBDJÓO DBMJEBE QSFDJP FYDFQDJPOBM QBSB SFNBUBS FM NFOÙ &O SFBMJEBE QPEFNPT EFTDPSDIBSMP EFTEF FM QSJNFS QMBUP QFSP TJFNQSF IBZ RVF HVBSEBS VO QPDP QBSB FM QPTUSF Z FM CSJOEJT
DPO DVTDÙT Z GSVUPT TFDPT EFM SFDFUBSJP EF +PSEJ $SV[ : QBSB SFNBUBS VO IFMBEP EF UVSSÓO RVF MPT 5PSSFT OPT QSPQPOFO EFTEF TV ÙMUJNP MJCSP 5PSSFT FO MB DPDJOB 4ÓMP GBMUBO VOPT CVFOPT WJOPT QBSB NBSJEBS Z VOPT DÓDUFMFT nDPO Z TJO BMDPIPMn QBSB BMBSHBS MB TPCSFNFTB *LFS .PSÃO FT NJFNCSP EF -B (VMBUFDB VO CMPH EF HBTUSPOPNÎB TJO IVNPT %FTDÙCSFMP FO N FT MBHVMBUFDB
$¶$5&-&4 ."63* +*.Â/&; $PDUFMTQFSRVFTJ
$MÃTJDPT OVFWBT DSFBDJPOFT Z TPCSF UPEP TPDJBMJ[BS MB DPDUFMFSÎB &TB FT MB QSPQVFTUB EF A$PDUFMTQFSRVFTJ QBSB NBSJEBS FTUB DFOB
$MPWFS DMVC 3FDJCJS B MPT JOWJUBEPT P DPNFO[BS FM BQFSJUJWP DPO VO DÓDUFM FT TJFNQSF VOB CVFOB JEFB UBNCJÊO FO /BWJEBE 4PCSF UPEP TJ FT VOB QSPQVFTUB UBO GSFTDB Z WJTUPTB DPNP FTUF $MPWFS $MVC DPO HJOFCSB MJNÓO Z GSBNCVFTBT &O MB DPDUFMFSB Z CJFO BHJUBEP MB DMBSB EF IVFWP DPOTJHVF MB UFYUVSB Z MB FTQVNB RVF SFDVFSEB B MPT TPVS 6O BVUÊOUJDP DMÃTJDP EF MB DPDUFMFSÎB RVF TFSWJSFNPT FO DPQB BMUB Z CJFO GSÎP Z RVF TFSÃ FM DPNJFO[P JEFBM EF MB GJFTUB
1FSBT Z NBO[BOBT &M OPNCSF EF FTUF DPNCJOBEP ZB FT UPEB VOB EFMJDJPTB EFDMBSBDJÓO EF JOUFODJPOFT "TÎ RVF OP IBZ RVF FDIBSMF NVDIB JNBHJOBDJÓO BM UFNB QBSB EFEVDJS DVÃMFT TPO MPT TBCPSFT QSFEPNJOBOUFT FO FTUF DÓDUFM EF BVUPS RVF TFHVSP RVF B NÃT EF VOP MF SFDPODJMJB DPO FM XIJTLZ "EFNÃT EF MPT [VNPT EF MBT EPT GSVUBT nMB NBO[BOB NBOEB Z TJ FT VO QPDP ÃDJEB NFKPSn B[ÙDBS MÎRVJEP Z XIJTLZ MB SFDFUB UBNCJÊO JODMVZF USFT UPRVFT EF CJUUFS EF DIPDPMBUF 1FSGFDUP QBSB BMBSHBS MB TPCSFNFTB USBT MB DPNJEB P MB DFOB EVSBOUF FTUBT GJFTUBT
7JSHJO 7BOJMMB 3BTQJSPTLB /P CFCFS BMDPIPM OP TJHOJGJDB UFOFS RVF SFOVODJBS B VO CVFO DÓDUFM 6O DMBSP FKFNQMP EF FMMP FT FTUB WBJOJMMB SBTQJ SPTLB FO WFSTJÓO WJSHJO nTJO BMDPIPMn B CBTF EF QVSÊ EF GSBNCVFTBT TJSPQF EF WBJOJMMB Z [VNP EF MJNB QBSB SFGSFTDBS &O WBTP CBKP Z BODIP Z EFDPSBEB DPO VO SBNJMMFUF EF NFOUB TFSÃ MB TFOTBDJÓO EF MB GJFTUB &O VOPT EÎBT EF FYDFTPT FO MB NFTB OP FTUÃ NBM UFOFS B NBOP FTUB SFDFUB QBSB RVJFOFT OP QVFEBO P RVJFSBO CFCFS BMDPIPM
'ZVTC
3&("-04 %& /"7*%"%
.0%" A-00,4 26& "/4*"3¦4 -6$*3 :" .*4.0 $B[BEPSB CPNCFS QJF[BT EF UFSDJPQFMP DIBRVFUBT NJMJUBSFT ADSPQQFE KFBOT CPUJOFT RVF TPO VOB NBSBWJMMB VOB TFMFDDJÓO EF QSPQVFTUBT JOTQJSBEPSBT DPO MBT QSFOEBT RVF WJFOFO QJTBOEP GVFSUF 2VF OP TFB QPS GBMUB EF JEFBT
#-64" CÃ&#x192;TJDB EF NBOHB MBSHB Z MB[P EF DPMPS OFHSP FO FM DVFMMP 1FSGFDUB QBSB DPOTFHVJS VO UPRVF EF MP NÃ&#x192;T QSFQQZ < â&#x201A;¬> XXX EBOEBSB FT
.*/*7&45*%0 EF MFOUFKVFMBT RVF GPSNB QBSUF EF MB DPMFDDJÃ&#x201C;O DÃ&#x192;QTVMB EF (JHJ )BEJE QBSB 5PNNZ )JMGJHFS <$ 1 7 > FT UPNNZ DPN
.0/0 GMVJEP HSBOBUF EF NBOHB DPSUB DPO VO FTDPUF FO QJDP %FUBMMF EF MB[P FO MB DJOUVSB < â&#x201A;¬> XXX QFQFKFBOT DPN
#-";&3 FOUBMMBEP VOB QSFOTB CÃ&#x192;TJDB RVF OP EFCF GBMUBS FO UV BSNBSJP $PNCÃ&#x17D;OBMP DPO VO QBOUBMÃ&#x201C;O P GBMEBT < â&#x201A;¬> XXX D BOE B DPN FT
.*/*'"-%" DPO EFUBMMF GSPOUBM EF QBSFP Z IFCJMMB 4PO UFOEFODJB FTUB UFNQPSBEB Z MBT PQDJPOFT QBSB DPNCJOBSMB TPO JOGJOJUBT < â&#x201A;¬> XXX [BSB DPN
4"/%"-*"4 EPSBEBT RVF EBSÃ&#x192;O VO UPRVF GFTUJWP B UV PVUGJU 1FSGFDUBT DPO QJUJMMPT NPOPT WFTUJEPT GBMEBT UJFOFT NÃ&#x2122;MUJQMFT PQDJPOFT <$ 1 7 > XXX KJNNZDIPP DPN
#05±/ EF UFSDJPQFMP OFHSP DPO BCBMPSJPT EF JOTFDUPT Z UBDÃ&#x201C;O BODIP 4F MMFWBO DPO QBOUBMPOFT EF CBKP UPCJMMFSP GBMEBT NJEJ NJOJT < â&#x201A;¬> XXX [BSB DPN
'ZVTC
3&("-04 %& /"7*%"%
.0%"
+&34&: EF QVOUP HSJT DPO VO UPRVF EF DPMPS CMPDL GVDTJB FO MBT NBOHBT 1BSB DBMEFBS MPT EÃ&#x17D;BT NÃ&#x192;T GSÃ&#x17D;PT < â&#x201A;¬> TUPSF EJFTFM DPN
1"/5"-¶/ EFOJN DPO CPMTJMMPT EFMBOUFSPT Z USBTFSPT 1JFSOB TMJN DSPQQFE < â&#x201A;¬> XXX NZTQSJOHGJFME DPN FT
1-6."4 WFSEF BDPMDIBEP EF "FSPOÃ&#x192;VUJDB .JMJUBSF $SFNBMMFSB FO MB QBSUF EFMBOUFSB Z DBQVDIB FYUSBÃ&#x17D;CMF <$ 1 7 > XXX BFSPOBVUJDBNJMJUBSFPGGJDJBMTUPSF JU FT
$)"26&5" EF %FOJN 4VQQMZ EF 3BMQI -BVSFO -B UFOEFODJB NJMJUBS FT VOB EF MBT DMBWFT EF MB UFNQPSBEB PUPÃ&#x2019;P JOWJFSOP <$ 1 7 > XXX FMDPSUFJOHMFT FT
501 OFHSP EF 1BUSJ[JB 1FQF DPO FODBKF &MJHF MB NFKPS NBOFSB EF MVDJSMP DPO WBRVFSPT CBKP VOB DIBRVFUB P DPO GBMEB < â&#x201A;¬> XXX [BMBOEP FT
'"-%" QMJTBEB EF NCZ. 7B NVZ CJFO UBOUP DPO MPPLT EFQPSUJWPT IBTUB BRVFMMPT IÃ&#x17D;QFSGFNFOJOPT DPO UBDPOFT Z CMVTBT < â&#x201A;¬> XXX [BMBOEP FT
#0.#&3 SFWFSTJCMF FO DPMPS WJOP RVF EBSÃ&#x192; VO UPRVF BUIMFJTVSF NF[DMB SPQB EFQPSUJWB DPO DBTVBM B UV FTUJMP < â&#x201A;¬> XXX UIFIJQUFF DPN
4/&",&3 DPO GPSSP EF DVFSP Z BMHPEÃ&#x201C;O $Ã&#x201C;NPEBT Z QSÃ&#x192;DUJDBT MBT HSBOEFT WFOUBKBT EF JODMVJS EFQPSUJWBT FO UVT FTUJMJTNPT <$ 1 7 > XXX QIJMJQQFNPEFM DPN
'ZVTC
3&("-04 %& /"7*%"%
.0%"
$".*4" DPO SJCFUFT FO MPT QVÃ&#x2019;PT -B QBSUF JOUFSJPS EFM DVFMMP Z MPT MBUFSBMFT EFM CBKP UJFOFO EFUBMMFT FO UFKJEP B SBZBT < â&#x201A;¬> XXX FTQSJU FT
;"1"50 UJQP CMVDIFS DPO DPSEPOFT 6OB CVFOB GPSNB EF JOUSPEVUJS FM FTUJMP CSJUJTI FO UVT PVUGJU EF PUPÃ&#x2019;P JOWJFSOP < â&#x201A;¬> XXX FMHBOTP DPN
1"/5"-¶/ TMJN FO DPMPS DBNFM DMBSJUP DPO DJODP CPMTJMMPT 5FKJEP FMÃ&#x192;TUJDP EF GFMQB < â&#x201A;¬> XXX NZTQSJOHGJFME DPN
+&"/4 B[VMFT EF DPSUF BODIP DPO UJSBOUFT Z DJFSSF DPO CPUPOFT 1VFEFT DPNQMFUBS FM MPPL DPO VOB DBNJTFUB P DBNJTB DBTVBM < â&#x201A;¬> XXX EFTJHVBM DPN
#05" EF -FWJ T RVF SFJOUFSQSFUB MB .VSQIZ )JHI $VU DPO VO EJTFÃ&#x2019;P EF NFEJB DBÃ&#x2019;B 4VFMB JOTQJSBEB FO MBT [BQBUJMMBT EF EFQPSUF < â&#x201A;¬> XXX MFWJ DPN
$)"26&5" NPUFSB EF MB DPMFDDJÃ&#x201C;O "TUPO .BSUJO CZ )BDLFUU %JTFÃ&#x2019;BEB QBSB MB DPOEVDDJÃ&#x201C;O QPS TJOVPTBT DBSSFUFSBT SVSBMFT <$ 1 7 > XXX IBDLFUU DPN
$".*4&5" QFOTBEB QBSB MPT BNBOUFT EFM NVOEP EFM DÃ&#x201C;NJD DPO VOB JNBHFO JNQSFTB EFM JODSFÃ&#x17D;CMF )VML < â&#x201A;¬> XXX D BOE B DPN
'ZVTC
3&("-04 %& /"7*%"%
.0%"
;"1"50 EF WFTUJS FO DVFSP OFHSP $PSEPOFT FTUSFDIPT FMFHBOUF QVOUFSB Z VOB TVFMB EF HPNB B[VM < â&#x201A;¬> XXX DMBSLT FT
"#3*(0 OFHSP EF QBÃ&#x2019;P EF MB DPMFDDJÃ&#x201C;O +VTU $BWBMMJ EF 3PCFSUP $BWBMMJ 5JFOF UBDIVFMBT FO MB [POB EFM DVFMMP <$ 1 7 > KVTUDBWBMMJ SPCFSUPDBWBMMJ DPN
$".*4" EF USBKF CMBODB EF ,BSM -BHFSGFME DPO DVFMMP LFOU $PSUF FTUSFDIP <$ 1 7 > XXX [BMBOEP FT
1"+"3*5" EF TFEB UFYUVSJ[BEB EF MB DPMFDDJÃ&#x201C;O )PMJEBZ EF 5PNNZ )JMGJHFS RVF JOWJUB B DFMFCSBS MBT GJFTUBT EF NBOFSB FMFHBOUF < â&#x201A;¬> FT UPNNZ DPN
$)"26&5" SFBMJ[BEB FO UFSDJPQFMP EF DPSUF TMJN DPO CPUPOBEVSB TJNQMF Z TPMBQB FO DPOUSBTUF <$ 1 7 > FT UPNNZ DPN
1"/5"-¶/ DPO FTUBNQBEP EF DVBESPT B[VM 4MJN GJU 4F QVFEF DPNCJOBS DPO VO CMB[FS EF DVBESPT P DPO VOP MJTP < â&#x201A;¬> XXX [BSB DPN
$)"26&5" FTUSFDIB EF "OUPOZ .PSBUP 3FBMJ[BEB DPO VO UFKJEP NJYUP EF WJTDPTB DPO CPMTJMMPT EF TBUÃ&#x160;O IFDIPT FO KBDRVBSE < â&#x201A;¬> XXX NPSBUP JU
'ZVTC
3&("-04 %& /"7*%"%
$0.1-&.&/504 $0/ &--04 10/%3¦4 &- 5026& '*/"- 1&3'&$50 -PT BDDFTPSJPT BQPSUBO FTUJMP Z QFSTPOBMJEBE B UVT APVUGJUT -B HVJOEB EFM QBTUFM 4PO MB QJF[B DMBWF RVF TVNB QVOUPT QFSP UBNCJÃ&#x160;O SFTUBO 4J FTDPHFT MPT BEFDVBEPT USBOTGPSNBSÃ&#x192;O FM AMPPL NÃ&#x192;T DPSSJFOUF FO FM DFOUSP EF UPEBT MBT NJSBEBT
$0/+6/50 MFODFSP DPO FTUBNQBEP DPSCBUFSP Z EFUBMMF EF FODBKF <DBNJTFUB EF UJSBOUFT â&#x201A;¬ Z QBOUBMÃ&#x201C;O â&#x201A;¬> XXX PZTIP DPN
#"5" DPSUB EF TBUÃ&#x160;O UJQP LJNPOP DPO NBOHB KBQPOFTB $POGFDDJPOBEB FO DPMPS DSVEP Z DPO FTUBNQBEP GMPSBM < â&#x201A;¬> XXX FUBN FT
#3"(6*5" DVMMPUF CSBTJMFÃ&#x2019;B DPO NFOTBKF OBWJEFÃ&#x2019;P -B SPQB JOUFSJPS UBNCJÃ&#x160;O UJFOF TVT NPNFOUPT FTUSFMMB EVSBOUF MBT GJFTUBT < â&#x201A;¬> XPNFOTFDSFU DPN
#0-40 OFHSP DSV[BEP DPO BQMJRVFT EFDPSBUJWPT Z DSJTUBMFT GBDFUBEPT "TB EF DBEFOB EPSBEB < â&#x201A;¬> TIPQ NBOHP DPN
$"3$"4" QBSB J1IPOF 4 DPO QSJOU EF MVOBSFT Z VOB GSBTF DBSBDUFSÃ&#x17D;TUJDB EF MB GJSNB %PMPSFT 1SPNFTBT < â&#x201A;¬> XXX EPMPSFTQSPNFTBT DPN
4&5 EF BOUJGB[ Z [BQBUJMMBT DPO JOUFSJPS EF CPSSFHVJUP 5PEP MMFWB VO FTUBNQBEP EF FTUSFMMBT QBSB FTUBS QPS DBTB EF GPSNB EJWFSUJEB < â&#x201A;¬> XPNFOTFDSFU DPN
("'"4 %& 40- SFEPOEBT EF %PMDF (BCCBOB 'SPOUBM FO BDFUBUP USBOTQBSFOUF DPO FGFDUP UBMMBEP FTQFDJBM < â&#x201A;¬> XXX TVOHMBTTIVU DPN
'ZVTC
3&("-04 %& /"7*%"%
$0.1-&.&/504
1"$, DPO USFT QBSFT EF DBMDFUJOFT EF BMHPEÃ&#x201C;O DPO VO EJTFÃ&#x2019;P DPMPSJEP 1BSB BMFHSBS MPT DPSUPT EÃ&#x17D;BT EF JOWJFSOP < â&#x201A;¬> XXX UJNCFSMBOE FT
."-&5" JOTQJSBEB FO &M IJKP EFM IPNCSF VOP EF MPT DVBESPT JDÃ&#x201C;OJDPT EF 3FOÃ&#x160; .BHSJUUF 4F USBUB EF VOB FEJDJÃ&#x201C;O MJNJUBEB EFM NPEFMP $PTNPMJUF <$ 1 7 > XXX TBNTPOJUF FT
3&-0+ EF ;FOJUI FO DPMBCPSBDJÃ&#x201C;O DPO $PIJCB QBSB DFMFCSBS FM BOJWFSTBSJP EF MB NBSDB EF IBCBOPT <$ 1 7 > XXX [FOJUI XBUDIFT DPN
$03#"5" EF TFEB -PT CFOFGJDJPT TF EFTUJOBSÃ&#x192;O B MB GJOBODJBDJÃ&#x201C;O EF QSPHSBNBT TPDJBMFT EF "MEFBT JOGBOUJMFT < â&#x201A;¬> XXX BMEFBTJOGBOUJMFT FT
(&.&-04 EF QMBUB DPO GPSNB EF CJDJDMFUB %JWFSUJEB QSPQVFTUB EJTQPOJCMF FO WBSJPT DPMPSFT < â&#x201A;¬ DBEB VOP> XXX UBJMPSET DPN
."-&5±/ RVF QVFEF TFSWJS QBSB MMFWBS FM QPSUÃ&#x192;UJM Z MB UBCMFU 'BCSJDBEP DPO EPT BTBT Z CPMTJMMPT GSPOUBMFT PSHBOJ[BEPT <$ 1 7 > XXX QJRVBESP DPN
$"35&3" EF QJFM WFSEF Z NBSSÃ&#x201C;O 5JFOF VO DPNQBSUJNFOUP FTQFDÃ&#x17D;GJDP QBSB MMFWBS FM % / * < â&#x201A;¬> XXX TDBMQFST DPN FT
30%0-'0 4"/$)0 MMFWB VO TNPPLJOH EF +VTU 0OF DBNJTB CMBODB EF ;BSB Z [BQBUPT EF #PX 5JF &%63/& MVDF VO WFTUJEP EPSBEP DPO BCFSUVSB EF "MWBSOP Z UBDPOFT B[VMFT EF +JNNZ $IPP
y"-(6*&/ )" %*$)0 26& )": 6/" '*&45" /PDIFT SFCPTBOUFT EF NBHJB DPO WFTUJEPT DFÃ&#x2019;JEPT EPSBEPT FUÃ&#x160;SFPT EF TBUÃ&#x160;O TNPLJOHT QBSB WFMBEBT JOGJOJUBT -B DBOUBOUF &EVSOF Z FM BDUPS 3PEPMGP 4BODIP MVDFO FM AESFTT DPEF QFSGFDUP QBSB CSJMMBS 5&9504 $-"6%*" 3*;;0
'050(3"'±" 7BMFSP 3JPKB WBMFSPSJPKB DPN ":6%"/5&4 %& '050(3"'±" 1FESP .FMP Z %FOOJT ,MFJO &45*-*4.0 *SJB #BMMFTUB 5FO "HFODZ "4*45&/5& %& &45*-*4.0 &MFOB .POUFSP ."26*--"+& : 1&-626&3±" &WB &TDPMBOP "HSBEFDJNJFOUPT ;BSB )PNF [BSBIPNF DPN 5IF 8FTUJO 1BMBDF .BESJE $0/ 3PEPMGP 4BODIP Z &EVSOF
Â
M FT VOP EF MPT BDUPSFT FTQBÃ&#x2019;PMFT NÃ&#x192;T TPMJDJUBEPT QBSB QSPUBHPOJ[BS MP RVF MVFHP TF DPOWJFSUFO FO TFSJFT EF SFOPNCSF &MMB DPOUJOÃ&#x2122;B TV BTDFOTP JNQBSBCMF EFOUSP EF VOB DBSSFSB NVTJDBM EF Ã&#x160;YJUP 3PEPMGP 4BODIP Z &EVSOF WJWFO VO NPNFOUP NVZ EVMDF EFOUSP EF TVT SFTQFDUJWBT DBSSFSBT QSPGFTJPOBMFT &TP TÃ&#x17D; MP IBDFO DPO MPT QJFT FO MB UJFSSB Z SFMBUJWJ[BOEP MP BMUP RVF VOP MMFHB /P FT VO SFHBMP TJOP MB SFDPNQFOTB BM FTGVFS[P EF NVDIPT BÃ&#x2019;PT &M EJBSJP NJOVUPT MFT KVOUB FO .BESJE Z MFT WJTUF EF GJFTUB QBSB DFMFCSBS DPO FMMPT MB /BWJEBE Z MB MMFHBEB EF FO VO FTDFOBSJP NBKFTUVPTP 5IF 8FTUJO 1BMBDF &M +BSEÃ&#x17D;O EF *OWJFSOP EFM IPUFM OPT USBTMBEB JNBHJOBSJBNFOUF B MB FMFHBODJB EF MB #FMMF ÂQPRVF Z OPT DPOUBHJB EF TV FTQÃ&#x17D;SJUV PQUJNJTUB 3JODPOFT RVF IBO TJEP UFTUJHPT NVEPT EF DPOGJEFODJBT FOUSF BSUJTUBT F JOUFMFDUVBMFT 3PNÃ&#x192;OUJDPT TBMPOFT DPO UFMBT JNQSFTJPOBOUFT Z NVFCMFT BOUJHVPT %JWBOFT FTQMÃ&#x160;OEJEPT EF UFSDJPQFMP TPCSF MPT RVF EFTDPSDIBS FM DIBNQBHOF RVF TF BDBCB UBO SÃ&#x192;QJEP DPNP MMFHB -B NÃ&#x2122;TJDB Z FM CBJMF DPOUJOÃ&#x2122;BO Z MP Ã&#x2122;OJDP RVF JNQPSUB FT TFHVJS DPO MBT SJTBT EF QSJNFSB IPSB EF MB OPDIF &M EPSBEP FT FM IJMP DPOEVDUPS FO FTPT EÃ&#x17D;BT NÃ&#x192;HJDPT EF EJDJFNCSF &M RVF FODJFOEF UPEBT MBT FTUSFMMBT Z EFTMVNCSB FO MPPLT SFMBKBEPT Z TFYZT BUSBZFOEP UPEBT MBT NJSBEBT &M OFHSP TF NVFTUSB FO VO KVFHP EF MVDFT Z TPNCSBT 4JFNQSF EF GJFTUB
&%63/& j103 /0$)&#6&/" )&.04 --&("%0 " )"$&3 #"3#"$0"4 &/ '".*-*" .*&/53"4 /&7"#"v
-
B BMFHSÃ&#x17D;B DPO MB RVF &EVSOF UF DVFOUB MBT DPTBT FT DPOUBHJPTB Z TVT HBOBT EF IBDFSMP UPEP TPO BEJDUJWBT $PO FTB FOFSHÃ&#x17D;B NBSBWJMMPTB MB DBOUBOUF IB DPNFO[B EP B DPNQPOFS UFNBT QBSB FM RVF TFSÃ&#x192; TV QSÃ&#x201C;YJNP USBCBKP /P IBZ GFDIBT OJ BHPCJPT BTÃ&#x17D; RVF FTDSJCF TJO QSJTBT $PDJOBOEP B GVFHP MFOUP RVF FT DPNP UPEP TBCF NFKPS MBT FNPDJPOFT RVF OBDFO EFOUSP EF VOP NJTNP &EVSOF TF TJFOUF GFMJ[ $POUFOUB QPS TFS EF OVFWP QBSUF EFM KVSBEP EF (PU 5BMFOU SFBMJUZ RVF CVTDB B QFSTPOBT DPO UBMFOUP Z DVZB TFHVOEB FEJDJÃ&#x201C;O FTUÃ&#x192; QFOEJFOUF EF FTUSFOP FO 5FMFDJODP *MVTJPOBEB QPSRVF FTUBNPT FO EJDJFNCSF TJOÃ&#x201C;OJNP EF RVF TF BDFSDB TV DVNQMFBÃ&#x2019;PT Z RVF MB /BWJEBE FTUÃ&#x192; B MB WVFMUB EF MB FTRVJOB i.J NPNFOUP GBWPSJUP EFM BÃ&#x2019;Pw FYQMJDB /P WF MB IPSB EF RVF MMFHVF %F BSSBODBS DPO WFIFNFODJB MBT QÃ&#x192;HJOBT EFM DBMFOEBSJP QBSB RVF QBTFO MPT EÃ&#x17D;BT Z TF SFÃ&#x2122;OB DPO TV GBNJMJB FO /PDIFCVFOB i-P CPOJUP FT QBTBSMP UPEPT KVOUPTw BÃ&#x2019;BEF : MP IBDFO FOUSF SJTBT RVF TF BMBSHBO IBTUB FM BMCB 2VFEB NVZ QPDP QBSB TV DVNQMFBÃ&#x2019;PT EF EJDJFNCSF z-F SFHBMBO QPS EVQMJDBEP `/P .F IBDFO VO QBDL /PT QBTB B MPT RVF OBDFNPT FO WÃ&#x17D;TQFSBT EF /BWJEBE SJTBT .F FODBOUBO FTUBT GFDIBT z2VÃ&#x160; FT MP RVF NÃ&#x192;T MF HVTUB $VBOEP OPT KVOUBNPT UPEB MB GBNJMJB FO /PDIFCVFOB %FTQVÃ&#x160;T EF MB DFOB QBTBNPT IPSBT DPO KVFHPT EF NFTB 1PEFNPT FTUBS GÃ&#x192;DJMNFOUF IBTUB MBT TJFUF EF MB NBÃ&#x2019;BOB : OP TÃ&#x201C;MP FOUSF QSJNPT FO NJ GBNJMJB KVFHBO IBTUB MPT BCVFMPT SJTBT 5F QPESÃ&#x17D;B EFDJS RVF FT NJ NPNFOUP GBWPSJUP EFM BÃ&#x2019;P "TÃ&#x17D; RVF VTUFE FT NÃ&#x192;T EF 1BQÃ&#x192; /PFM 4Ã&#x17D; MP DFMFCSBNPT NÃ&#x192;T &O 3FZFT OPT DPNFNPT FM 3PTDÃ&#x201C;O RVF QPS DJFSUP OP NF HVTUB Z MMFWP BÃ&#x2019;PT SFJWJOEJDBOEP RVF UFOESÃ&#x17D;B RVF IBCFS PUSP QPTUSF OBWJEFÃ&#x2019;P SJTBT z: MB DFOB EF /PDIFCVFOB z"MHVOB USBEJDJÃ&#x201C;O /P UFOFNPT VOB DPNJEB FTQFDJBM 'Ã&#x17D;KBUF IFNPT MMFHBEP B IBDFS IBTUB CBSCBDPBT NJFOUSBT OFWBCB 6O QPDP MPDVSB SJTBT z4FSÃ&#x192; FO .BESJE /P FO .BODIFTUFS Z 'JO EF "Ã&#x2019;P TFHVSBNFO UF MP QBTBSÃ&#x160; .BESJE z$Ã&#x201C;NP TF QSFTFOUB )F DPNFO[BEP B DPNQPOFS 4JO GFDIBT OJ QSJTBT 5FOHP NVDIBT DPTBT EFOUSP RVF NF BQFUFDÃ&#x17D;B QMBTNBS $POUBSMBT B USBWÃ&#x160;T EF DBODJPOFT FTUÃ&#x192; NVZ CJFO QPSRVF PUSPT TF QVFEFO TFOUJS JEFOUJGJDBEPT &TQFSP RVF OP NBOEF NFOTBKFT TVCMJNJOB MFT DPNP IBDF 5BZMPS 4XJGU DPO TVT FY /P OP SJTBT /P WPZ B JS QPS BIÃ&#x17D; &M QSÃ&#x201C;YJNP BÃ&#x2019;P SFQJUF DPNP KVSBEP EF A(PU 5BMFOU 5FMFDJODP BM RVF MMFHB 3JTUP .FKJEF &M OÃ&#x2122;DMFP EVSP DSFDF
-B WFSEBE FT RVF MPT DPNQBÃ&#x2019;FSPT FTUÃ&#x192;O DBÃ&#x2019;FSJUPT )BZ NVDIP SJGJ SBGF SJTBT 1FSP 3JTUP .FKJEF TPSQSFOEFSÃ&#x192; QPSRVF FO FM GPOEP FT NVZ TFOTJCMÃ&#x201C;O z2VÃ&#x160; QVFEF DPOUBS TPCSF MBT BDUVBDJPOFT .VDIÃ&#x17D;TJNB WBSJFEBE TIPXT EF NBHJB BMVDJOBOUFT OÃ&#x2122;NFSPT NVTJDBMFT EF CBJMFx IBZ VO QPRVJUP EF UPEP 5BNCJÃ&#x160;O WFSFNPT B HFOUF RVF WF FM BSUF EF VOB NBOFSB EJGFSFOUF 4VQPOHP RVF TF SFGJFSF B MPT DMÃ&#x192;TJDPT GSJLJT /P NF HVTUB MMBNBSMPT BTÃ&#x17D; QFSP IF QSFTFODJB EP BDUVBDJPOFT RVF NF IBO JNQBDUBEP .F[DMBS GSJLJT Z HFOUF DPO UBMFOUP zOP WB FO EFUSJNFOUP EF FTUPT Ã&#x2122;MUJNPT /P MP WFP BTÃ&#x17D; 4F USBUB EF EBSMF MB NJTNB PQPSUVOJEBE UPEPT 4J OP IVCJFTF WBSJFEBE UFSNJOBSÃ&#x17D;B TJFOEP VO QPDP BCVSSJEP %F UPEPT NPEPT B MB GJOBM TÃ&#x201C;MP MMFHBO MPT NFKPSFT BVORVF ZP MFT EBSÃ&#x17D;B VOB PQPSUVOJEBE B UPEPT *NBHJOP RVF TF TJFOUF VO QPDP JEFOUJGJDBEB 5PUBMNFOUF Z TF MP IF EJDIP B NJT DPNQBÃ&#x2019;FSPT A/P TBCÃ&#x160;JT MP RVF TF QBTB OJ MP RVF TF TJFOUF MPT OFSWJPT MB JMVTJÃ&#x201C;O QFOTBS RVF RVJ[Ã&#x192;T FTB TFB MB Ã&#x2122;OJDB PQPSUVOJEBE EF MMFHBSx 4V QBTP QPS A0QFSBDJÃ&#x201C;O 5SJVOGP NÃ&#x192;SDÃ&#x201C; FM JOJDJP EF TV DBSSFSB z2VÃ&#x160; CBMBDF IBDF .F QSFTFOUÃ&#x160; DPO BÃ&#x2019;PT B VO DPODVSTP EF UFMFWJTJÃ&#x201C;O TJO TBCFS TJ JCB B UFOFS TVFSUF P B RVFEBSNF QPS FM DBNJOP /P TÃ&#x201C;MP IF DVNQMJEP NJ TVFÃ&#x2019;P EF EFEJDBSNF B MB NÃ&#x2122;TJDB TJOP RVF IF IFDIP NÃ&#x192;T DPTBT RVF KBNÃ&#x192;T IVCJFSB JNBHJOBEP VO NVTJDBM USBCBKBS FO UFMFWJTJÃ&#x201C;O TFS JNBHFO EF NBSDBTx &TUPZ NVZ GFMJ[ DPO UPEPT MPT QBTPT RVF IF JEP EBOEP
iA&VSPWJTJÃ&#x201C;O IB TJEP FM NPNFOUP EF NJ WJEB FO RVF NÃ&#x192;T DSÃ&#x17D;UJDBT IF SFDJCJEP QFSP NF IB IFDIP BQSFOEFSw z5BNCJÃ&#x160;O DPO A&VSPWJTJÃ&#x201C;O 'VF VOB FYQFSJFODJB NVZ CPOJUB Z TJ TVQJFSB DVÃ&#x192;M FT FM TFDSFUP QBSB HBOBS WPMWFSÃ&#x17D;B BM BÃ&#x2019;P TJHVJFOUF /P FT BMHP RVF EFQFOEB TÃ&#x201C;MP EF OPTPUSPT OJ EFM FRVJQP /VODB TF TBCF TJ WB B JS CJFO P NBM )BZ RVJFOFT PQJOBO RVF RVJ[Ã&#x192;T FM UFNB OP FSB FM BEFDVBEP Z RVF FT VO QSPCMFNB DBOUBS FO VO JEJPNB EJTUJOUP BM JOHMÃ&#x160;T #BSFJ DBOUÃ&#x201C; FO JOHMÃ&#x160;T Z NJSB $BEB BÃ&#x2019;P TVDFEFSÃ&#x192; RVF MB DBODJÃ&#x201C;O HVTUBSÃ&#x192; B VOPT Z OP B PUSPT .J UFNB FSB EJGFSFOUF B MP RVF TF IBCÃ&#x17D;B IFDIP VOB QSPQVFTUB NVZ BSSJFTHBEB NÃ&#x17D;TUJDB &VSPWJTJÃ&#x201C;O IB TJEP FM NPNFOUP EF NJ WJEB FO RVF NÃ&#x192;T DSÃ&#x17D;UJDBT IF SFDJCJEP QPS UPEPT TJUJPT 1FSP NF IB IFDIP BQSFOEFS Z MBT RVF TPO DPOTUSVDUJWBT CJFOWFOJEBT TFBO FM SFTUP NFKPS JHOPSBSMP
$"/5"/5& $PNFO[Ã&#x201C; FO MB NÃ&#x2122;TJDB DPO BÃ&#x2019;PT FO FM HSVQP JOGBOUJM 5SBTUPT QFSP OP TF EJP B DPOPDFS IBTUB RVF FTUVWP FO 0QFSBDJÃ&#x201C;O 5SJVOGP 5BNCJÃ&#x160;O IB QSPUBHPOJ[BEP FM NVTJDBM EF (SFBTF HSBCBEP TFJT EJTDPT Z QBSUJDJQBEP FO WBSJPT QSPHSBNBT EF UFMFWJTJÃ&#x201C;O &O WVFMWF B TFS KVSBEP EF (PU 5BMFOU
7&45*%0 EF TBUÃ&#x160;O B[VM EF 4QPSUNBY DPO CPMTP EF .BSFMMB
+&34&: Z GBMEB EF "MCFSUB 'FSSFUUJ QBSB +VTU 0OF $PNQMFUB FM MPPL VO TPNCSFSP OFHSP EF ;BSB
30%0-'0 4"/$)0 j-0 $36&- %& 4&3 "$503 &4 26& 1"3&$& 26& 4*&.13& &45¦4 "33"/$"/%0v
%
FTEF OJÃ&#x2019;P SFDJCJÃ&#x201C; MB RVF RVJ[Ã&#x192;T MVFHP IB TJEP VOB EF MBT NFKPSFT FOTFÃ&#x2019;BO[BT QBSB FKFSDFS TV DBSSFSB EF BDUPS iRVF UF HSJUFO QPS MB DBMMF OP TJHOJGJDB RVF UFOHBT MB WJEB SFTVFMUBw 3PEPMGP 4BODIP MP BQSFOEJÃ&#x201C; PCTFSWBOEP NVZ EF DFSDB B TV QBESF FM JOPMWJEBCMF 4BODIP (SBDJB QFSP UBNCJÃ&#x160;O QPS MB FYQFSJFODJB RVF MF EBO B VOP MPT BÃ&#x2019;PT " TVT FTQBMEBT UJFOF NÃ&#x192;T EF VOB EFDFOB EF QBQFMFT DPNP QSPUBHPOJTUB FO UFMF BEFNÃ&#x192;T EF WBSJBT JODVSTJPOFT FO DJOF Z UFBUSP 6OB USBZFDUPSJB FO BTDFOTP RVF MF IB MMFWBEP QPS NÃ&#x160;SJUPT QSPQJPT B DPOWFSUJSTF FO VOP EF MPT BDUPSFT EF NPEB EF OVFTUSP QBÃ&#x17D;T 4JO FNCBSHP FM EVMDF TBCPS EFM Ã&#x160;YJUP RVF UBOUP DPOPDF OP OVCMB TVT TFOUJEPT &M GJOBM EF A.BS EF QMÃ&#x192;TUJDP "OUFOB IB TJEP JNQBDUBOUF z4BCÃ&#x17D;B EFTEF FM QSJODJQJP RVJÃ&#x160;O FSB FM BTFTJOP /P .F GVJ FOUFSBOEP B MB WF[ RVF )Ã&#x160;DUPS "HVJSSF NJ QFSTPOBKF FO MB TFSJF Z SFBMJ[BOEP FM WJBKF EF JOWFTUJHBDJÃ&#x201C;O DPO Ã&#x160;M RVF FT MP RVF NF JOUFSFTB 1PS VOB QBSUF FT NÃ&#x192;T EJWFSUJEP Z QPS PUSB NÃ&#x192;T SFBM QBSB NÃ&#x17D; QPSRVF WFP QPS EÃ&#x201C;OEF FTUÃ&#x192; QBTBOEP FM QFSTPOBKF z-F UFOUBSÃ&#x17D;B IBDFS EF NBMP .F FODBOUBSÃ&#x17D;B QFSP UBNCJÃ&#x160;O IF IFDIP QFSTPOBKFT RVF OP FSB QSFDJTBNFOUF BMNBT DBSJUBUJWBT )BCMFNPT DMBSP FO SFBMJEBE 'FSOBOEP &M $BUÃ&#x201C;MJDP *TBCFM OP FSB NVZ CVFOB HFOUF SJTBT 4JO FNCBSHP FM FTQFDUBEPS FNQBUJ[B DPO BMHVOPT EF FTUPT QFSTPOBKFT -B BNCJHÃ&#x203A;FEBE GVODJPOB NVZ CJFO FO MPT QFSTPOBKFT OJ UBO PTDVSPT OJ UBO CMBODPT RVF IBZB HSJTFT .J QFSTPOBKF FO .BS EF QMÃ&#x192;TUJDP QPS FKFNQMP UFOÃ&#x17D;B CSPUFT WJPMFOUPT RVF OP FTUBCBO CJFO 1FSP FTP FT UBNCJÃ&#x160;O MP CPOJUP EF VO QFSTPOBKF "IPSB RVF TF IB UFSNJOBEP MB TFSJF zRVÃ&#x160; WB B IBDFS %FTDBOTBS z"MHVOB WF[ IB FTUBEP NVDIP UJFNQP QBSBEP FTQFSBOEP B RVF TPOBTF FM UFMÃ&#x160;GPOP .VDIP UJFNQP OP QFSP TÃ&#x17D; RVF NF IF WJTUP FO MB TJUVBDJÃ&#x201C;O &O PDBTJPOFT IBZ QBSPOFT Z GPSNBO QBSUF EF MB DBSSFSB EF VO BDUPS 5BNQPDP TPZ VOB QFSTPOB RVF TF TJFOUF B NJSBS FM UFMÃ&#x160;GPOP QSFGJFSP RVF TF NF PDVSSB BMHVOB JEFB Z PGSFDFSNF QBSB USBCBKBSx 5PN )BOLT EFDÃ&#x17D;B FO VOB FOUSFWJTUB RVF UPEBWÃ&#x17D;B WJWF DPO FM NJFEP B RVF DVBOEP UFSNJOB VOB QFMÃ&#x17D;DVMB OP IBZB VOB TJHVJFOUF /BEB MF BTFHVSB B VOP OBEB &YBDUP :P NJTNP IF IFDIP QBQFMFT EF QSPUBHPOJTUB FO V TFSJFT QFSP OVODB TF TBCF &T MP DSVFM EF OVFTUSB QSPGFTJÃ&#x201C;O QBSFDF RVF TJFNQSF FTUÃ&#x192;T BSSBODBOEP z2VÃ&#x160; EJKP TV QBESF 4BODIP (SBDJB DVBOEP WJP RVF RVFSÃ&#x17D;B TFHVJS TVT QBTPT
iz/P QSFGJFSFT TFS BCPHBEP w TPMUÃ&#x201C; NFEJP FO CSPNB NFEJP FO TFSJP SJTBT .F TJFOUP NVZ BGPSUVOBEP QPSRVF FO FTUB QSPGFTJÃ&#x201C;O UF QVFEFT UJSBS VOB WJEB JOUFOUÃ&#x192;OEPMP TJO UFSNJOBS EF IBDFS VO QFSTPOBKF JNQPSUBOUF 4FS IJKP EF BDUPS zQFSKVEJDB P CFOFGJDJB /JOHVOB EF MBT EPT DPTBT 4J OP FSFT VO CVFO BDUPS OP UF PGSFDFO IBDFS EF QSPUBHPOJTUB $VBOEP VOB QSPEVDUPSB UF DPOUSBUB WFMB QPS TV OFHPDJP OP FO IBDFS GBWPSFT B OBEJF /JDPMBT $BHF TPCSJOP EF 'SBODJT 'PSE $PQQPMB MMFHÃ&#x201C; B DBNCJBSTF FM BQFMMJEP QPSRVF OP MF UPNBCBO FO TFSJP -VFHP FTUÃ&#x192; FTB PUSB DBSB EF MB NPOFEB FO MB RVF QBSFDF RVF UJFOFT RVF EFNPTUSBS NÃ&#x192;T RVF MPT EFNÃ&#x192;T .J QBESF TF MMBNBCB 'Ã&#x160;MJY 4BODIP (SBDJB QFSP TV OPNCSF BSUÃ&#x17D;TUJDP FSB 4BODIP (SBDJB BTÃ&#x17D; RVF DVBOEP FNQFDÃ&#x160; OP OPT SFMBDJPOBCBO )BTUB UBM QVOUP RVF FM EJSFDUPS EF "M TBMJS EF DMBTF TF FOUFSÃ&#x201C; EF RVJFO FSB NJ QBESF DVBOEP ZP ZB MMFWBCB EPT NFTFT FO MB TFSJF "RVFMMP NF HVTUÃ&#x201C; QPSRVF TVQF RVF NF IBCÃ&#x17D;BO DPHJEP QPS NÃ&#x17D; NJTNP z2VÃ&#x160; SFDVFSEPT DPOTFSWB EF TVT JOJDJPT FO A"M TBMJS EF DMBTF " WFDFT FSB NVZ EVSP QFSP OP IBZ NFKPS FTDVFMB RVF BRVFMMB FO MB RVF BQSFOEFT IBDJFOEP MBT DPTBT 6OB FYQFSJFODJB NVZ EJWFSUJEB QPSRVF UPEPT Ã&#x160;SBNPT KÃ&#x201C;WFOFT Z FSB VO DBDIPOEFP NBSBWJMMPTP SJTBT 2VF DPO BÃ&#x2019;PT MF SFDPOP[DBO QPS MB DBMMF TF MF TVCJSÃ&#x17D;B VO QPDP B MB DBCF[B zOP (SBDJBT B MB DBSSFSB EF NJ QBESF TBCÃ&#x17D;B RVF BVORVF UF HSJUFO QPS MB DBMMF OP UJFOFT MB WJEB SFTVFMUB 1FSP MÃ&#x201C;HJDBNFOUF TF UF QVFEF JS VO
i6OB USBEJDJÃ&#x201C;O GBNJMJBS RVF UFOÃ&#x17D;BNPT FO 'JO EF "Ã&#x2019;P FSB WJBKBS B 6SVHVBZ Z UJSBSOPT B MB QJTDJOB OBEB NÃ&#x192;T MMFHBSw QPDP MB DBCF[B %JWFSUJSTF Z WJWJS FT MP NÃ&#x17D;OJNP : TJ OP TF UF WB MB DBCF[B DPO FTBT FEBEFT FT RVF IBZ BMHP EFOUSP EF UJ RVF OP FTUÃ&#x192; CJFO SJTBT z%Ã&#x201C;OEF TVFMF QBTBS FM 'JO EF "Ã&#x2019;P %VSBOUF VOB Ã&#x160;QPDB CVTDÃ&#x192;CBNPT VO MVHBS OFWBEP FO MB 4JFSSB 0USPT BÃ&#x2019;PT QBSB DFMFCSBSMP WJBKÃ&#x192;CBNPT IBTUB 6SVHVBZ EF EPOEF FT NJ NBESF "MMÃ&#x17D; FM EF EJDJFNCSF TF WJWF EF VOB NBOFSB UPUBMNFOUF EJTUJOUB QPSRVF FTUÃ&#x192;O FO QMFOP WFSBOP "TÃ&#x17D; RVF MB USBEJDJÃ&#x201C;O FSB UJSBSTF B MB QJTDJOB &OUPODFT z1BQÃ&#x192; /PFM P MPT 3FZFT .BHPT "NCPT 1BQÃ&#x192; /PFM FTUÃ&#x192; BCTPMVUBNFOUF JOUFHSBEP FO OVFTUSB TPDJFEBE QPS MP RVF QBSB NÃ&#x17D; MPT EPT TPO JHVBM EF JNQPSUBOUFT )BCSÃ&#x192; FTDSJUP ZB TV DBSUBx /P TPZ NVZ EF QFEJS QFSP VOB CVFOB UBCMB EF TVSG OP NF WFOESÃ&#x17D;B NBM SJTBT
"$503 -B TFSJF KVWFOJM "M TBMJS EF DMBTF MF MBO[Ã&#x201C; B MB GBNB DPO BÃ&#x2019;PT Z EFTEF FOUPODFT TV DBSSFSB OP IB QBSBEP EF DSFDFS $POWFSUJEP FO VO BDUPS SFGFSFOUF FOUSF TVT Ã&#x2122;MUJNBT JODVSTJPOFT UFMFWJTJWBT FTUÃ&#x192;O MBT FYJUPTBT *TBCFM .BS EF QMÃ&#x192;TUJDP Z FM .JOJTUFSJP EFM UJFNQP
7&45*%0 EF DPSUF TJSFOB CJDPMPS Z DPO FTQBMEB DSV[BEB EF 1SPOPWJBT
$)"26&5" EF DVBESPT EF ;BSB Z DBNJTB EF USBKF EF 4DBMQFST
'ZVTC
3&("-04 %& /"7*%"%
+0:&3±" -"4 $0/4&37"3¦4 1"3" 4*&.13& 1JFESBT QSFDJPTBT Ã&#x2122;OJDBT RVF DBVUJWBO QPS TV BUSBDUJWP DPMPSJEP 1JF[BT FMFHBOUFT RVF GPSNBO QBSUF EF NPNFOUPT Ã&#x2122;OJDPT F JSSFQFUJCMFT "RVFMMPT RVF OP TF PMWJEBO RVF JOWJUBO B TPÃ&#x2019;BS B WJBKBS QPS MBT BSFOBT EFM EFTJFSUP B WPMBS BMUP QBSB BMDBO[BS MB MVOB
1&/%*&/5&4 SJWJFSF EF PSP CMBODP DPO EJBNBOUFT UBMMB NBSRVJTF Z FTNFSBMEB UBMMB QFSB <$ 1 7 > XXX SBCBU DPN
16-4&3" SFBMJ[BEB FO PSP BNBSJMMP Z HFNBT Ã&#x201C;QBMP EF GVFHP HSBOBUF FTQFTBSUJOB QJFESB MVOB SVCÃ&#x17D; <$ 1 7 > XXX UPVT DPN
"/*--04 Z CSPDIFT FO PSP CSJMMBOUFT OÃ&#x192;DBS QFSMBT Z QJFESBT QSFDJPTBT EF DPMPSFT JOUFOTPT -BT NBSJQPTBT TPO TÃ&#x17D;NCPMP EF USBOTGPSNBDJÃ&#x201C;O Z MJCFSUBE DPOWFSUJEPT FO BDDFTPSJPT SPNÃ&#x192;OUJDPT <$ 1 7 > XXX OJDPMT DPN
$0--"3 DPO NPUJWPT EF DPSPOB EF GMPS NFUBM Z TUSBTT FO DPMPS NJFM 5BNCJÃ&#x160;O MP UJFOFT EJTQPOJCMF FO DPMPS IFNBUJUB P SPKP JEFBM QBSB MB /BWJEBE < Ã > XXX BHBUIB FT
1&/%*&/5&4 EF QMBUB EPSBEB FOHBS[BEPT DPO FTQJOFMB 1FSGFDUPT QBSB SFHBMBS B VOB QFSTPOB FTQFDJBM < â&#x201A;¬> XXX BSBSBU DPN
"/*--0 FOUSFMB[BEP IFDIP FO 1MBUB EF 1SJNFSB -FZ Z BEPSOBEP DPO DJSDPOJUBT DÃ&#x2122;CJDBT USBOTQBSFOUFT < â&#x201A;¬> XXX QBOEPSB OFU
"/*--0 EF NFUBM CBÃ&#x2019;BEP FO QMBUB DPO JODSVTUBDJÃ&#x201C;O EF DSJTUBM B[VM SFDUBOHVMBS Z TVQFSGJDJF EF BDBCBEP JSSFHVMBS < â&#x201A;¬> XXX VOPEF DPN
Diego Suรกrez,
'ZVTC
3&("-04 %& /"7*%"%
+0:&3±"
("3("/5*--" UJQP DIPDLFS DPMFDDJÃ&#x201C;O *DPO .FTI SFBMJ[BEB FO 1MBUB EF -FZ WFSNFJM SPTÃ&#x160; Z BDFSP JOPYJEBCMF <$ 1 7 > XXX UPVT DPN
1&/%*&/5&4 FMBCPSBEPT DPO PSP CMJOEBEP *OTQJSBEPT FO FM QPMWP Z FO FM EFTJFSUP TJNVMBO HSBOJUPT EF BSFOB < â&#x201A;¬> XXX BQPEFNJB DPN
"/*--04 DPO QJFESBT MJHFSBNFOUF PQBDBT FONBSDBEBT QPS CSJMMBOUFT 1JF[BT Ã&#x2122;OJDBT SPEFBEBT QPS VOB DPSPOB EF EJBNBOUFT <$ 1 7 > XXX XFNQF DPN
$0-("/5& FO GPSNB EF MVOB " MB J[RVJFSEB PSP SPTB DPO EJBNBOUFT CSPXO " MB EFSFDIB MVOB EF PSP CMBODP <$ 1 7 > XXX EPEP JU FT
$0/+6/50 %& 53&4 #3";"-&5&4 SÃ&#x17D;HJEPT DPO EJTFÃ&#x2019;PT EF JOTQJSBDJÃ&#x201C;O GMPSBM Z WBSJBT BODIVSBT 1BSB QPOFS KVOUP P QPS TFQBSBEP < â&#x201A;¬> XXX EFTJHVBM DPN
16-4&3" NVMUJ DBEFOBT EF BDFSP $PMPS QMBUFBEP Z EPNJOBOUF EPSBEP *EFBM QBSB VOB OPDIF EF GJFTUB EF MP NÃ&#x192;T FMFHBOUF < â&#x201A;¬> XXX BHBUIB FT
4035*+" MBO[BEFSB MJTB Z HBMMPOBEB 3FBMJ[BEB FO 1MBUB EF -FZ SFDVCJFSUB EF PSP BNBSJMMP EF ,UT < â&#x201A;¬> XXX BSJTUPDSB[Z DPN
'ZVTC
3&("-04 %& /"7*%"%
1&3'6.&4 -" '03." .¦4 */5&/4" %&- 3&$6&3%0 %FCF TFS DPNP FM UFNB DFOUSBM EFM #PMFSP EF 3BWFM 6OB FTQFDJF EF MFOUB PCTFTJÓO EFDÎB +FBO 1BVM 4BSUSF /PUBT RVF TFEVDFO SFDPOGPSUBO EFGJOFO B DBEB QFSTPOB OPT DPOFDUBO DPO MB BÒPSBO[B
13&.*&3 %-*$& EF "OBÐT "OBÐT QSFTFOUB VO DPGSF EJTFÒBEP QPS 4BSBI EF $PTUB RVF JODMVZF QFSGVNF NM HFM Z DSFNB < €> XXX FMDPSUFJOHMFT FT
%*7*/& %&$"%&/$& EF .BSD +BDPCT FT EF BSPNBT BNBEFSBEPT Z GMPSBMFT 6OB FYQSFTJÓO EF HMBNPVS Z QMBDFS <" QBSUJS EF €> XXX FMDPSUFJOHMFT FT
"(6" %& 40- EF &TDBEB UF USBOTQPSUB FO FM UJFNQP B FTPT NPNFOUPT EF QMBDFS WJWJEPT CBKP FM TPM <" QBSUJS EF €> XXX QFSGVNFSJBTJG DPN
$) (PPE (JSM EF $BSPMJOB )FSSFSB FT UBO JOUFOTB DPNP TFOTVBM 1BSB MB NVKFS RVF DFMFCSB TV MBEP CVFOP Z MJCFSB TV MBEP NBMP < €> XXX QFSGVNFSJBTBCJOB DPN
%&4*(6"- '3&4) OBDF QFOTBOEP FO VOB NVKFS PQUJNJTUB Z MJCSF EF QSFKVJDJPT &M QBDL EF SFHBMP DPOUJFOF VO GSBTDP EF NM Z VOB GVOEB QBSB J1BE < €> XXX QFSGVNFSJBTJG DPN
4± EF (JPSHJP "SNBOJ MBO[B VOB FEJDJÓO FTQFDJBM DPO VO OFDFTFS RVF JODMVZF FM QFSGVNF EF NM DSFNB DPSQPSBM Z VOB NJOJBUVSB < €> XXX FMDPSUFJOHMFT FT
4*(/03*/" */ 30440 EF 4BMWBUPSF 'FSSBHBNP FT VOB FEJDJÓO MJNJUBEB DPO DIJTQFBOUFT OPUBT EF HSPTFMMB FTQFDJBEB < €> XXX FMDPSUFJOHMFT FT
$)-0 '-&63 %& 1"3'6. DVZB OPUB QSJODJQBM MB BQPSUB FM DPSB[ÓO EF MB SPTB 6O DPODFOUSBEP EF ÎOUJNB TFOTVBMJEBE <" QBSUJS EF €> XX TFQIPSB FT
'ZVTC
3&("-04 %& /"7*%"%
5064 ."/ FT VOB GSBHBODJB PSJFOUBM BGSVUBEP BNBEFSBEB FO MB RVF TF QVFEF BQSFDJBS UPEP FM GSFTDPS EFM KFOKJCSF GSFF[FGSBNF 4FU DPO WBQPSJ[BEPS EF NM CÃ&#x192;MTBNP QBSB EFTQVÃ&#x160;T EFM BGFJUBEP Z HFM < â&#x201A;¬> XXX CPEZCFMM DPN
#044 #055-&% */5&/4& EF )VHP #PTT TF JOUFOTJGJDB DPO OPUBT EF GPOEP BNBEFSBEBT Z B[BIBS 1BSB IPNCSFT DPO DBSÃ&#x192;DUFS <" QBSUJS EF â&#x201A;¬> XXX TFQIPSB FT
- )0..& 6-5*.& EF :WFT 4BJOU -BVSFOU UJFOF VOB NBSDBEB WJSJMJEBE HSBDJBT B TVT OPUBT BNBEFSBEBT <" QBSUJS EF â&#x201A;¬> XXX FMDPSUFJOHMFT FT
$, 0/& EF $BMWJO ,MFJO TF WJTUF EF PSP FTUBT GJFTUBT 6O IPNFOBKF B MPT KÃ&#x201C;WFOFT RVF OP TF FRVJWPDBO Z DPOWJFSUFO UPEP FO PSP < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
-"$045& - #-"/$ EF -BDPTUF BCSF DPO VOB GVTJÃ&#x201C;O EF QPNFMP DBSEBNPNP Z SPNFSP FO UPSOP BM BSPNB EFM OBSEP <" QBSUJS EF â&#x201A;¬> XXX QSJNPS FV
%:-"/ #-6& EF 7FSTBDF UJFOF VO BSPNB B NBEFSB BSPNÃ&#x192;UJDB RVF FYQSFTB MB GVFS[B Z FM DBSJTNB EFM IPNCSF BDUVBM <" QBSUJS EF â&#x201A;¬> XXX QSJNPS FV
)"--08&&/ ."/ 4)05 OPT SFUB B WJWJS FO VOB SFBMJEBE Ã&#x192;DJEB TFDSFUB Z SFCFMEF &M TFU EF /BWJEBE JODMVZF VO GSBTDP EF NM Z PUSP EF NM < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
'ZVTC
3&("-04 %& /"7*%"%
#&--&;" $"13*$)04 A#&"65: 26& 5& .&3&$&4 &YDFMFOUFT QBSB SFHBMBS P BVUPSSFHBMBSTF "TÃ&#x17D; RVF WF QSFQBSÃ&#x192;OEPUF QBSB JODMVJS BM NFOPT VOP EF FMMPT FO UV AXJTI MJTU QBSB FTUF BÃ&#x2019;P "MHVOPT TPO VO HVTUB[P QBSB MPT TFOUJEPT QPS MPT JODSFÃ&#x17D;CMFT BSPNBT RVF EFTQSFOEFO "WJTBEP RVFEBT
1-"/$)" DPO VO DJMJOESP HJSBUPSJP RVF DVBOEP FTUÃ&#x192; DBMJFOUF EB GPSNB BM DBCFMMP DPO VO TPMP NPWJNJFOUP < â&#x201A;¬> XXX CFMMJTTJNB DPN
1"$, RVF DPOUJFOF HFM NBOUFDB FYGPMJBOUF Z MPDJÃ&#x201C;O DPSQPSBM EF MB MÃ&#x17D;OFB .BO[BOB FTQFDJBEB EF #PEZ 4IPQ < â&#x201A;¬> XXX UIFCPEZTIPQ FT
"$&-&3"%03 QSP SFHFOFSBUJWP 3FEFOIBJS RVF FWJUB MB SPUVSB EFM DBCFMMP )JESBUB GPSUBMFDF FTUJNVMB BDPOEJDJPOB Z EB CSJMMP < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
$"+" DPO PDIP UPOPT EF TPNCSBT EF .BY 'BDUPS 1PESÃ&#x192;T VTBSMBT KVOUBT P QPS TFQBSBEP QBSB VO DPMPS JOUFOTP FO UV NJSBEB < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
&9'0-*"/5& Z NBOUFDB DPSQPSBM IJESPOVUSJUJWB Z UPOJGJDBOUF 4V FMBCPSBDJÃ&#x201C;O BSUFTBOBM IBDF RVF UFOHBO UFYUVSB EF GÃ&#x192;DJM BQMJDBDJÃ&#x201C;O < â&#x201A;¬> XXX FTEPSTIPQ FT
$035"#"3#"4 EF 8")- DPO CBUFSÃ&#x17D;B EF JPOFT EF MJUJP $POTJHVF FM MPPL QSPUBHPOJTUB EF UPEBT MBT SFVOJPOFT < â&#x201A;¬> XXX DPSUBQFMPTZQMBODIBT DPN
'ZVTC
3&("-04 %& /"7*%"%
$&1*--0 JOUFMJHFOUF 0SBM # (FOJVT RVF TF DPNVOJDB DPOUJHP FO UJFNQP SFBM QBSB RVF QVFEBT DFQJMMBSUF DPNP EJDF FM EFOUJTUB < â&#x201A;¬> XXX NFEJBNBSLU FT
$0-&$$*¶/ MJNJUBEB EF #JPUIFSN DVZPT CFOFGJDJPT JSÃ&#x192;O B MBT JOWFTUJHBDJPOFT TPCSF FM DBNCJP DMJNÃ&#x192;UJDP FO MB "OUÃ&#x192;SUJEB <$ 1 7 > XXX FMDPSUFJOHMFT FT
1"$, .&/ &91&35 )& RVF IJESBUB I Z MVDIB DPOUSB MPT TJHOPT EFM DBOTBODJP 1PS MB DPNQSB VOB FYQFSJFODJB EF SFHBMP <$ 1 7 > XXX FYQFSJFODJBTMPSFBM FT
%&1*-"%03" QBSB NVKFS #SBVO 4JML Ã&#x160;QJM 4V DBCF[BM NÃ&#x192;T BODIP DVCSF VOB TVQFSGJDJF NBZPS 4VNFSHJCMF IBTUB NFUSPT < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
&456$)& SFHBMP EF MB DPMFDDJÃ&#x201C;O 3FGSFTIJOH EF 3JUVBMT DPO FTQVNB EF EVDIB HFM EF BGFJUBS BGUFS TIBWF Z NJOJ QFSGVNF < â&#x201A;¬> FV SJUVBMT DPN
$3&." '"$*"- EF IPSBT EF IJESBUBDJÃ&#x201C;O EJTFÃ&#x2019;BEB QPS +FSFNZWJMMF F JOTQJSBEB FO $FOUSBM 1BSL <" QBSUJS EF â&#x201A;¬> XXX FMDPSUFJOHMFT FT
,*5 EF .FOT 4PDJFUZ QBSB FM DVJEBEP EF MB CBSCB FO DBKB EF MBUÃ&#x201C;O $POUJFOF VO BDFJUF SFQBSBEPS DFSB VO QFRVFÃ&#x2019;P QFJOF Z VOBT UJKFSBT < â&#x201A;¬> XXX CBUBWJB FT
%*4104*5*70 EF MJNQJF[B GBDJBM -6/"Â&#x2013; QMBZ $VFOUB DPO VOB BVUPOPNÃ&#x17D;B EF VTPT Z QSPQPSDJPOB VOB QJFM MJNQJB Z TBMVEBCMF "EFNÃ&#x192;T DBCF GÃ&#x192;DJMNFOUF FO VO CPMTJMMP P OFDFTFS < â&#x201A;¬> XXX GPSFP DPN FT
'ZVTC
3&("-04 %& /"7*%"%
"53Â7&5& " 4&%6$*3 4*/ -±.*5&4
:WFT 4BJOU -BVSFOU QSPQPOF VO AMPPL RVF TF JMVNJOB DPNP VOB FYQMPTJÃ&#x201C;O EF FTUSFMMBT .BUJDFT EPSBEPT EFTMVNCSBOUFT Z CSPODFT JSJTBEPT FO MPT PKPT TF GVOEFO DPO SPKPT QBSB VOPT MBCJPT SFCFMEFT 1/% #"33" %& -"#*04 3PVHF 1VS $PVUVSF $PMMFDUPS EF UFYUVSB JOUFOTB Z DSFNPTB RVF PGSFDF VO QFSGFDUP DPMPS PQBDP < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
1"-&5" EF TPNCSBT DPO UPOPT GÃ&#x192;DJMFT EF MMFWBS DPNP FM DJSVFMB EPSBEP CSPODF Z SPTB NFUBMJ[BEP < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
6
OB FTUÃ&#x160;UJDB TVCWFSTJWB Z TFYZ -BCJPT JOTPMFOUFT 6OB NJSBEB JOUFOTB BUSFWJEB Z MJHFSBNFOUF CSJMMBOUF RVF NBSDBSÃ&#x192; MB EJGFSFODJB 6O MPPL UPUBM EF FGFDUP EFTMVNCSBOUF z1BSB RVÃ&#x160; BOEBSTF DPO TVUJMF[BT DVBOEP TF QVFEF QSPWPDBS EF WFSEBE -MPZE 4JNNPOET EJSFDUPS DSFBUJWP EF NBRVJMMBKF EF :WFT 4BJOU -BVSFOU #FBVUÃ&#x160; OPT QMBOUFB VO MPPL GFTUJWP RVF IVZF EF MPT FYDFTPT %B VO UPRVF EF iEJWFSTJÃ&#x201C;O BM HMBNPVSw 2VF MB QSPQJB BQMJDBDJÃ&#x201C;O EFM NBRVJMMBKF TFB iTFODJMMBw Z TF DPOWJFSUB FO TÃ&#x17D; NJTNB FO VOB GJFTUB %FTQVÃ&#x160;T EF VTBS VOB IJESBUBO UF BQMJDB MB CBTF EF NBRVJMMBKF 5FJOU 3FTJTU DPO UPRVFT MJHFSPT FNQF[BOEP QPS MB [POB NFEJB Z FYUFOEJFOEP IBDJB MPT
DPOUPSOPT EFM SPTUSP " DPOUJOVBDJÃ&#x201C;O VTBSFNPT FM 5PVDIF ÂDMBU FO MB [POB EF MB PKFSB Z TVSDP OBTPHÃ&#x160;OJDP QBSB JMVNJOBS DPNP FO FM IVFTP EFM QÃ&#x201C;NVMP QBSB SFBM[BS -VFHP TF EJGVNJOB B UPRVFT VTBOEP MB ZFNB EF MPT EFEPT i&O MPT PKPT FNQMFBNPT VO NBUJ[ EPSBEP FO MB QBSUF TVQFSJPS EFM QÃ&#x192;SQBEP Z CBKP MB DFKB BOUFT EF NBSDBS DPO VO UPOP DJSVFMB MB MÃ&#x17D;OFB EF MB QFTUBÃ&#x2019;BTw BÃ&#x2019;BEF 4JNNPOET -BT NFKJMMBT FYQSFTBSÃ&#x192;O UPEB MB FNPDJÃ&#x201C;O DPO VO UPOP SPTBEP Z EFMJDBEP RVF SFBM[BSÃ&#x192; TV MVNJOPTJEBE z: MPT MBCJPT i1PEFNPT PQUBS QPS VO FGFDUP NÃ&#x192;T ESBNÃ&#x192;UJDP DPO VO UPOP SPKP P VOP NÃ&#x192;T TFODJMMP DPO MB TPGJTUJDBDJÃ&#x201C;O RVF BQPSUB VO OVEFw TFOUFODJB
*-6.*/"%03 5PVDIF ÂDMBU RVF TF VTB QSJODJQBMNFOUF FO MB [POB EFM DPOUPSOP EF PKPT "UFOÃ&#x2122;B MBT JNQFSGFDDJPOFT < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
'ZVTC
3&("-04 %& /"7*%"%
"-*"%" %& -" &-&("/$*" 6OB ACVCCMF QPOZUBJM FT HBSBOUÃ&#x17D;B EF Ã&#x160;YJUP Z ,FOEBMM +FOOFS MP TBCF CJFO 5F FYQMJDBNPT QBTP B QBTP DÃ&#x201C;NP IBDFS FTUB PSJHJOBM DPMFUB QBSB RVF UÃ&#x2122; UBNCJÃ&#x160;O QVFEBT MMFWBSMB `4JHVF MFZFOEP 1/%
-0$*¶/ 1FSGFDU .F EF &*.* RVF SFQBSB IJESBUB Z BQPSUB CSJMMP BEFNÃ&#x192;T EF EJTDJQMJOBS FM DBCFMMP SFCFMEF < â&#x201A;¬> XXX XFMMB FT QSPGFTTJPOBM FT
(53 &4
&
MMB UJFOF FM QPEFS P RVJ[Ã&#x192;T FM EPO EF DPOWFSUJS FO EFTFBCMF UPEP MP RVF MMFWB ,FOEBMM +FOOFS NJFNCSP EFM DMBO ,BSEBTIJBO FT VO JDPOP EF SFGFSFODJB FO DVBOUP B FTUJMP Z IB WVFMUP B QPOFS EF NPEB MB CVCCMF QPOZUBJM VOB DPMFUB SPNÃ&#x192;OUJDB DPO MB RVF CSJMMBSÃ&#x192;T FO DVBMRVJFS GJFTUB -VBOB 1SJFUP -FBSOJOH &YFDVUJWF .BOBHFS 0I .Z $VU OPT FYQMJDB DÃ&#x201C;NP DPOTFHVJS VO QFJOBEP DPNP FM EF ,FOEBMM TJO QBTBS QPS MB QFMVRVFSÃ&#x17D;B %"-& '03." "QMJDBNPT TPCSF FM DBCFMMP IÃ&#x2122;NFEP FM HFM 4IBQF .F EF &*.* EF 8FMMB 1SPGFTTJPOBMT EJTUSJCVJNPT FOUSF MBT NBOPT Z SFQBSUJNPT FM QSPEVDUP QPS TFDDJPOFT $PO VO QFJOF OPT BTFHVSBNPT EF RVF FM HFM TF SFQBSUF EF GPSNB IPNPHÃ&#x160;OFB 4F USBUB EF VO HFM RVF TF BDUJWB DPO FM DBMPS EF MBT IFSSBNJFOUBT UÃ&#x160;SNJDBT Z HBSBOUJ[B MB EVSBDJÃ&#x201C;O EFM QFJOBEP IBTUB IPSBT 46+&5".04 $0/ 6/" $0-&5" $PO VO QFJOF IBDFNPT VOB QBSUJDJÃ&#x201C;O DFOUSBM Z TVKFUBNPT UPEP FM QFMP FO VOB DPMFUB B MB BMUVSB EF MB OVDB &T JNQPSUBOUF RVF MB [POB EF MB DPSPOJMMB FTUÃ&#x160; QFJOBEB IBDJB BUSÃ&#x192;T Z TPMUBSFNPT EF GPSNB OBUVSBM VO QBS EF NFDIPOFT B BNCPT MBEPT EFM SPTUSP 1BSB QVMJS FTUB QBSUF EFM QFJOBEP BQMJDBSFNPT VOB QFRVFÃ&#x2019;B DBOUJEBE EF 1FSGFDU .F FO MBT NBOPT $BMFOUBSFNPT FM QSPEVDUP Z MP VTBSFNPT FO MB QBSUF TVQFSJPS NBSDBOEP MB QBSUJDJÃ&#x201C;O EFM DBCFMMP Z FMJNJOBOEP SFTUPT EF FODSFTQBNJFOUP $0/4*(6& 6/ A1-64 %& 70-6.&/ 4PCSF MB DPMFUB BQMJDBNPT 4QSBZ 4VQFS 4FU Z DBSEBNPT MJHFSBNFOUF FM JOUFSJPS EF MB NJTNB DPO VO QFJOF IBTUB DPOTFHVJS FM WPMVNFO EFTFBEP QBSB DBEB CVCCMF -VFHP VTBNPT HPNBT QBSB IBDFS P CVCCMFT B MP MBSHP EF MB DPMFUB EFKBOEP FOUSF FMMBT VOB EJTUBODJB TVGJDJFOUF 'JOBMJ[BNPT QVMWFSJ[BOEP MBDB QPS UPEP FM DBCFMMP QBSB GJKBS FM QFJOBEP
-"$" 4VQFS 4FU EF &*.* $POUSPM UPUBM TPCSF FM QFJOBEP HSBDJBT B TV GJKBDJÃ&#x201C;O FYUSB GVFSUF < â&#x201A;¬>
4)"1& .& %& &*.* FT VO HFM GJKBEPS RVF TF BDUJWB QPS DBMPS Z BZVEB B EBSMF GPSNB BM QFMP 4F NBOUJFOF IBTUB IPSBT < â&#x201A;¬>
'ZVTC
3&("-04 %& /"7*%"%
)0("3 &450 &4 &41±3*56 /"7*%&µ0 : MP EFNÃ&#x192;T TPO UPOUFSÃ&#x17D;BT *OTQÃ&#x17D;SBUF DPO OVFTUSBT JEFBT EFDPSBUJWBT QBSB WFTUJS FM Ã&#x192;SCPM MB NFTB P MB DBTB 1PSRVF DBEB /BWJEBE UV IPHBS TF EFKB RVFSFS Z FT FTUF FTDFOBSJP Z OP PUSP FM NÃ&#x192;T CPOJUP QBSB WJWJS FTUBT GFDIBT
7&-" "30.¦5*$" EF FEJDJÃ&#x201C;O MJNJUBEB EF JOWJFSOP 5IF 3JUVBM PG -JHIU )VFMF B OBSBOKBT EVMDFT DPNCJOBEBT DPO DBOFMB < â&#x201A;¬> FV SJUVBMT DPN
$"'&5&3" *ODBOUP DBQB[ EF QFSTPOBMJ[BS BM NÃ&#x192;YJNP MB JOUFOTJEBE EFM DBGÃ&#x160; DPO MBT QPTJDJPOFT EFM NPMJOJMMP <$ 1 7 > XXX QIJMJQT FT
(6*3/"-%" EF MVDFT DPO CPMBT EPSBEBT 2VFEBO QSFDJPTBT QBSB EFDPSBS FTF SJODPODJUP RVF OPT HVTUB FO FM TBMÃ&#x201C;O FM QBTJMMP FM Ã&#x192;SCPM < â&#x201A;¬> XXX [BSBIPNF FT
$035"%03 DPO GPSNB EF Ã&#x192;SCPM EF /BWJEBE DPO FM RVF QPESÃ&#x192;T IBDFS HBMMFUBT FO VO TPMP DPSUF %JWFSUJEP QBSB IBDFS DPTBT DPO OJÃ&#x2019;PT < â&#x201A;¬> XXX MFLVF DPN
1"1¦ /0&- EF UFMB QBSB DPMHBS FO MB QVFSUB Z EBS VOB DÃ&#x192;MJEB CJFOWFOJEB B GBNJMJB Z BNJHPT DPO MPT RVF DPNQBSUBT FTUPT EÃ&#x17D;BT < â&#x201A;¬> XXX QSJNBSL FT
3&/0 EF QJF EFDPSBEP DPO MVDFT MFE EF DPMPS DÃ&#x192;MJEP 6OB NBOFSB DSFBUJWB QBSB JMVNJOBS BMHVOB FTUBODJB EF UV DBTB < â&#x201A;¬> XXX XFTUXJOH FT
#0-4"4 EF CBTVSB DPO MBT RVF DPOUBHJBSÃ&#x192;T FM FTQÃ&#x17D;SJUV OBWJEFÃ&#x2019;P 4JNVMBO IBTUB VOB DBQB EF OJFWF `$ISJTUNBT FWFSZXIFSF <$ 1 7 > XXX BNB[PO FT
'ZVTC
3&("-04 %& /"7*%"%
)0("3
"%03/04 EF NBEFSB DPO BDBCBEP OBUVSBM 1BSB BRVFMMPT RVF QSFGJFSFO BMHP NÃ&#x192;T EFMJDBEP RVF IVZF EF MP FTUSJEFOUF < â&#x201A;¬> XXX JLFB FT
$01"4 $SZTUBMMJOF 4FU EF EPT DPQBT EF DPMPS EPSBEP UBNCJÃ&#x160;O FYJTUFO FO QMBUB NFUBM SFWFTUJEP FO PSP Z UBMMPT SFMMFOPT DPO DSJTUBMFT <$ 1 7 > XXX TXBSPWTLJ FT
.¦26*/" QBSB IBDFS DVQDBLFT Z FOEVM[BS UPEBT UVT DPNJEBT Z DFOBT 'Ã&#x192;DJM Z SÃ&#x192;QJEP &O TFHVOEPT FTUÃ&#x192; UPEP MJTUP < â&#x201A;¬> XXX NFEJBNBSLU FT
1"µ0 EF DPDJOB FO FM RVF OP QVFEFO GBMUBS MPT USBEJDJPOBMFT SPKP WFSEF Z CMBODP 6O UPRVF DPRVFUP QBSB UV DPDJOB < â&#x201A;¬> XXX [BSBIPNF FT
#0-"4 DPO FTUSFMMBT EPSBEBT FO FM JOUFSJPS 7JFOFO FO QBDLT EF USFT 5BNCJÃ&#x160;O QVFEFT VTBSMBT QBSB EFDPSBS MB NFTB < â&#x201A;¬> XXX [BSBIPNF FT
40'¦ RVF SFDVQFSB VO BVUÃ&#x160;OUJDP 4FBU QBSB RVF MP BQBSRVFT FO FM DFOUSP EF UV TBMÃ&#x201C;O 4F SFBMJ[B QPS FODBSHP Z EF NBOFSB BSUFTBOBM <$ 1 7 > XXX CFM CFM FT
&456$)& DPO USFT NPOFEBT EF QMBUB TPCSF &M +BSEÃ&#x17D;O EF MBT %FMJDJBT EF &M #PTDP IPNFOBKF EF -B 3FBM $BTB EF MB .POFEB < â&#x201A;¬> UJFOEB GONU FT
'ZVTC
3&("-04 %& /"7*%"%
5&$/0-0(±" 3&46&/"/ &/ 56 $"#&;" $0.0 6/ ."/53" 4Ã&#x17D; FYJTUFO AHBEHFUT RVF DVBOEP MPT WFT DVBOEP DPOPDFT EF TV FYJTUFODJB OP QBSBT EF QFOTBS FO FMMPT 5F TFEVDFO TVT QSFTUBDJPOFT "EPSBT MBT QPTJCJMJEBEFT RVF PGSFDFO 6OB FTQFDJF EF BNPS B QSJNFSB WJTUB RVF SFWPMVDJPOB UV DPSB[PODJUP 5F MPT QSFTFOUBNPT
)6"8&* 1 DPO DÃ&#x192;NBSB EVBM EF -FJDB RVF UF QFSNJUF PCUFOFS GPUPHSBGÃ&#x17D;BT EF NVZ BMUB DBMJEBE TJO SFOVODJBS BM FMFHBOUF EJTFÃ&#x2019;P EFM EJTQPTJUJWP <$ 1 7 > XXX QIPOFIPVTF FT
$"3("%03 FO GPSNB EF QJFESB EF ,SFBGVOL DPO DBQBDJEBE QBSB DVBUSP DBSHBT EF VO J1IPOF Z EPT QVFSUPT 64# DPO VTP TJNVMUÃ&#x192;OFP < â&#x201A;¬> XXX CBUBWJB FT
130:&$503 EF CPMTJMMP RVF QVFEFT MMFWBSUF B DVBMRVJFS QBSUF QPS TV DÃ&#x201C;NPEP UBNBÃ&#x2019;P 7JEB Ã&#x2122;UJM EF IPSBT <$ 1 7 > XXX SJDPI FT
4$005&3 ) EF DPMPS SPKP DPO VOB BVUPOPNÃ&#x17D;B EF LJMÃ&#x201C;NFUSPT Z VOB WFMPDJEBE EF LN I <$ 1 7 > XXX JOOKPP FT
16-4&3" 5PN5PN 5PVDI RVF DPNCJOB BOÃ&#x192;MJTJT EF MB DPNQPTJDJÃ&#x201C;O DPSQPSBM DPO FM DPOUSPM EF QBTPT TVFÃ&#x2019;P Z GSFDVFODJB DBSEÃ&#x17D;BDB < Ã > XXX UPNUPN DPN
("'"4 73 ."/%0 $POUFOJEPT Z WÃ&#x17D;EFPT FO Â&#x17D; $PNQBUJCMF DPO TNBSUQIPOFT EF FOUSF v Z v <$ 1 7 > XXX QIPOFIPVTF FT
)0.& $*/&." EF -( DPO SFQSPEVDUPS EF EJTDP #MV SBZ 4V GVODJÃ&#x201C;O AOP NPMFTUBS FOWÃ&#x17D;B FM TPOJEP EFTEF MB UFMF B UV EJTQPTJUJWP NÃ&#x201C;WJM WÃ&#x17D;B XJGJ %JTQPOF UBNCJÃ&#x160;O EF VOB BQQ QBSB DPOUSPMBS FM BVEJP EFTEF FM NÃ&#x201C;WJM <$ 1 7 > XXX MH DPN
'ZVTC
3&("-04 %& /"7*%"%
5&$/0-0(±"
.050 ; FM NÃ&#x201C;WJM DPO (# EF NFNPSJB JOUFSOB RVF TF USBOTGPSNB FO QSPZFDUPS BMUBWP[ CBUFSÃ&#x17D;B QPSUÃ&#x192;UJM P DÃ&#x192;NBSB QSPGFTJPOBM HSBDJBT B TVT NÃ&#x201C;EVMPT USBTFSPT <$ 1 7 > XXX NPUPSPMB FT
1-":45"5*0/ 1SP PGSFDF VOB FYQFSJFODJB NFKPSBEB DPNQBUJCMF DPO , -PT KVFHPT TF EJTGSVUBO NÃ&#x192;T <$ 1 7 > XXX QMBZTUBUJPO FT
3&-0+ (QT 4VVOUP 4QBSUBO 6MUSB QBSB NVMUJEFQPSUF 1BOUBMMB UÃ&#x192;DUJM TVNFSHJCMF Z CBUFSÃ&#x17D;B EF IPSBT <$ 1 7 > XXX TVVOUP DPN
4".46/( $VSWFE -&% $VSWP RVF UF TVNFSHJSÃ&#x192; FO FM DPOUFOJEP DPO JNÃ&#x192;HFOFT NÃ&#x192;T EFGJOJEBT Z SFBMFT $BMJEBE 'VMM )% <$ 1 7 > XXX TBNTVOH FT
5"#-&5 "TVT ;FO1BE 4 PGSFDF JNÃ&#x192;HFOFT NÃ&#x192;T WJWBT BVEJP EF DBMJEBE DJOFNBUPHSÃ&#x192;GJDB Z VO QPUFOUF SFOEJNJFOUP <$ 1 7 > XXX BTVT DPN
$¦."3" %&1035*7" Â&#x17D; DPO EPCMF MFOUF EF Â&#x17D; SFTPMVDJÃ&#x201C;O EF '14 DPOFYJÃ&#x201C;O XJGJ Z CBUFSÃ&#x17D;B EF NJOVUPT <$ 1 7 > XXX UIFQIPOFIPVTF FT
:0(" EF -FOPWP TF QVFEF EBS MB WVFMUB EPCMBS JODMJOBS Z NBOUFOFS EF QJF QBSB TBUJTGBDFS UVT OFDFTJEBEFT <$ 1 7 > XXX FMDPSUFJOHMFT FT
'ZVTC
3&("-04 %& /"7*%"%
(14 EF Ã&#x2122;MUJNB HFOFSBDJÃ&#x201C;O RVF UF QFSNJUF MPDBMJ[BS B UV QFSSP NFEJBOUF UV UFMÃ&#x160;GPOP NÃ&#x201C;WJM 'VODJPOB B USBWÃ&#x160;T EF VOB BQQ P TNT < Ã > XXX EPOEP FT
$¦."3" SÃ&#x160;GMFY EJHJUBM $BOPO &04 % DPO PCKFUJWPT NN *4 45. Z NN *4 1FSNJUF HSBCBS WÃ&#x17D;EFPT < â&#x201A;¬> XXX FMDPSUFJOHMFT
3&130%6$503 NVMUJNFEJB (PPHMF $ISPNFDBTU 6MUSB RVF TF DPOFDUB B MB UFMFWJTJÃ&#x201C;O QBSB SFQSPEVDJS DPOUFOJEP FO TUSFBNJOH < â&#x201A;¬> XXX NFEJBNBSLU FT
7*%&0$¦."3" BDVÃ&#x192;UJDB +7$ DPO SFTPMVDJÃ&#x201C;O EF .1 Z CBUFSÃ&#x17D;B EF MBSHB EVSBDJÃ&#x201C;O I 1FSNJUF BDPQMBS GJMUSPT EF PUSPT GBCSJDBOUFT < â&#x201A;¬> XXX GOBD FT
*.13&403" )1 %FTL+FU RVF QFSNJUF JNQSJNJS FTDBOFBS Z DPQJBS EFTEF QSÃ&#x192;DUJDBNFOUF DVBMRVJFS EJTQPTJUJWP NÃ&#x201C;WJM $PNQBDUB F JOBMÃ&#x192;NCSJDB < â&#x201A;¬> TUPSF IQ DPN
'ZVTC
3&("-04 %& /"7*%"%
(063.&5 5¼ 5".#*Â/ $"&3¦4 &/ -" 5&/5"$*¶/ 6OB DFOB GBCVMPTB FO DBTB EFCF EF JS BDPNQBÃ&#x2019;BEB EF EVMDFT CFCJEBT BQFSJUJWPT DPO MPT QSPEVDUPT NÃ&#x192;T DBQSJDIPTPT QBSB MPT QBMBEBSFT NÃ&#x192;T FYJHFOUFT "RVÃ&#x17D; UJFOFT BMHVOBT QJTUBT RVF QVFEFO TFSWJSUF UBOUP TJ FSFT BOGJUSJÃ&#x201C;O DPNP JOWJUBEP
4"-.¶/ BIVNBEP TÃ&#x161;QSFNF EF "IVNBEPT %PNÃ&#x17D;OHVF[ 1VFEFT FODPOUSBS MPT TPCSFT EFTEF HSBNPT <" QBSUJS EF â&#x201A;¬> XXX FMDPSUFJOHMFT FT
'6&5 DBUBMÃ&#x192;O FMBCPSBEP EF NBOFSB BSUFTBOBM 1JF[B EF HSBNPT Z A4JO HMVUFO <$ 1 7 > XXX PSJHJOBMUBTUF FT
464)* #09 DPO QJF[BT JDÃ&#x201C;OJDBT EF MB DBSUB EF 4VTIJUB MPT IJUT Z UBNCJÃ&#x160;O PUSBT FMBCPSBEBT DPO JOHSFEJFOUFT QSFNJVN <" QBSUJS EF Ã > XXX TVTIJUBDBGF FT
.";"1"/&4 SFMMFOPT EF DPOGJUVSB EF QJÃ&#x2019;B 0STFSP 4F IBO TFMFDDJPOBEP QJF[BT Ã&#x2122;OJDBT EF $PTUB 3JDB < â&#x201A;¬LJMP > XXX DPOGJUFSJBFMSJPKBOP DPN
1"$, EF FEJDJÃ&#x201C;O MJNJUBEB EFM WPELB DBOBEJFOTF $SZTUBM )FBE RVF DPONFNPSB MPT BÃ&#x2019;PT EF MPT 3PMMJOH 4UPOFT < â&#x201A;¬> XXX VWJOVN FT
$"3%)6 (0-% 3&4&37& FT FM OVFWP TJOHMF NBMU EF MB EFTUJMFSÃ&#x17D;B FTDPDFTB TJO EFGJOJDJÃ&#x201C;O EF FEBE RVF IB NBEVSBEP FO CBSSJDBT EF SPCMF UPTUBEP < Ã > XXX FMDPSUFJOHMFT FT
)&/&44: VOB FEJDJÃ&#x201C;O MJNJUBEB EJTFÃ&#x2019;BEB QPS "SJL -FWZ EF MB RVF TPMP TF QPOESÃ&#x192;O B MB WFOUB CPUFMMBT FO FM NVOEP <$ 1 7 > XXX IFOOFTTZ DPN
'ZVTC
3&("-04 %& /"7*%"%
$¦146-"4 %& /&413&440 7BSJBUJPOT OVFWB HBNB DSFBEB QBSB /BWJEBE F JOTQJSBEBT FO MB GBNPTB USBEJDJÃ&#x201C;O QBTUFMFSB EF 7JFOB < â&#x201A;¬ MB DÃ&#x192;QTVMB> XXX OFTQSFTTP FT
"#40-65 &-:9 VO QBDL FTQFDJBM EF "CTPMVU FO FM RVF FM DPCSF FT NÃ&#x192;T WBMJPTP RVF FM PSP Z MB QJÃ&#x2019;B FT MB GJHVSB QSPUBHPOJTUB < â&#x201A;¬> XXX VWJOVN FT
&456$)& DPO EPDF CPUÃ&#x192;OJDPT Z MPT VUFOTJMJPT OFDFTBSJPT QBSB TFSWJS FO DBTB MB DPQB QFSGFDUB < â&#x201A;¬> XXX CPUBOJDBMTGPSNJYPMPHZ DPN
#365 *.1&3*"- 7JO %PSÃ&#x160; DPO QPMWP EF PSP , 4F USBUB EF VOB FEJDJÃ&#x201C;O MJNJUBEB QBSB MPT QBMBEBSFT NÃ&#x192;T FYJHFOUFT <$ 1 7 > XXX WJOEPSF DPN
'ZVTC
3&("-04 %& /"7*%"%
(063.&5
1&33*&3 +06¯5 (3"/% #365 QSFTFOUB VOB FMFHBOUF FEJDJÃ&#x201C;O OBWJEFÃ&#x2019;B DPO NPUJWPT CVSCVKFBOUFT < â&#x201A;¬> XXX UJFOEBQFSOPESJDBSECPEFHBT FT
#"/%&+" DPO RVFTPT EF *UBMJB &TQBÃ&#x2019;B P 4VJ[B 4F USBUB EF VO MBO[BNJFOUP DPOKVOUP EF " 5Ã&#x17D;QJDB Z MB RVFTFSÃ&#x17D;B 1PODFMFU < â&#x201A;¬> XXX QPODFMFU FT
7*/0 '"#*0 EF #PEFHBT 7BM "[VM FO FM RVF NPSBT Z DJSVFMBT BDPNQBÃ&#x2019;BO BSPNBT EF JODJFOTP Z QJNJFOUB < â&#x201A;¬> XXX MBWJOJB FT
$"+" %& #0.#0/&4 EF -B %VRVFTJUB 1VFEFT FMFHJS MPT TBCPSFT Z TF WFOEFO FO DBKBT EF Z VOJEBEFT < Ã Ã â&#x201A;¬> XXX MBEVRVFTJUB FT
1"/&550/& EF -B $IJOBUB RVF SFJOWFOUB MB SFDFUB JUBMJBOB DPO VWB QBTB BÃ&#x2019;BEJFOEP VO UPRVF EF BDFJUF EF PMJWB WJSHFO FYUSB < â&#x201A;¬> XXX MBDIJOBUB FT
+".¶/ EF #FMMPUB *CÃ&#x160;SJDP RVF EFTUBDB QPS RVF FO TV QSPDFTP EF DVSBDJÃ&#x201C;O OP TF VTBO NFEJPT BDFMFSBOUFT OJ BSUJGJDJBMFT <$ 1 7 > XXX KBCVKBCVHP DPN
-"3*04 DFMFCSB TV BOJWFSTBSJP DPO VOB FEJDJÃ&#x201C;O FTQFDJBM RVF SFNFNPSB TV IJTUPSJB Z TV PSJHFO .FEJUFSSÃ&#x192;OFP < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
'ZVTC
3&("-04 %& /"7*%"%
'"3"-%" $3"/& )05&-
$"146-&7"-6& ,"/%"
4* &45¦4 "#633*%0 %& -04 )05&-&4 )"#*56"-&4 %F MP DVSJPTP B MP GSBODBNFOUF FYUSBWBHBOUF 5F EBNPT VOB HVÎB DPO MPT MVHBSFT NÃT JOVTVBMFT QBSB IPTQFEBSTF FO IPUFMFT EF TBM TVJUFT CBKP FM NBS DBCBÒBT FO MPT ÃSCPMFT 1/%
$
VBOEP UFOFNPT QFOTBEP JSOPT EF WJBKF MP TPMFNPT IBDFS DPO VO EFTUJOP FO MB DBCF[B -VHBSFT RVF GPSNBO QBSUF EF FTB MJTUB DPO EFTUJOPT RVF UFOFNPT RVF WJTJUBS BM NFOPT VOB WF[ FO MB WJEB 1FSP zZ TJ MF EBNPT MB WVFMUB z: TJ DPOTJEFSBNPT MB QPTJCJMJEBE EF IBDFS RVF FM IPUFM TFB VO EFTUJOP FO TÎ NJTNP 6OB BWFOUVSB QPS TÎ TPMB -PT IBZ RVF DVFMHBO EF MBT DPQBT EF MPT DFESPT FO NFEJP EF CFMMPT QBJTBKFT QBSB BRVFMMPT RVF BOIFMBO BSSBODBSTF FTB FTQJOJUB JOGBOUJM EF EPSNJS FO VO ÃSCPM 0USPT BMPKBNJFOUPT EJTQPOFO EF TVJUFT GMPUBOUFT DPO IBCJUBDJPOFT B DVBUSP NFUSPT EF QSPGVOEJEBE "MMÎ CBKP FM PDÊBOP Z WJFOEP MPT QFDFT B UV BMSFEFEPS
UF TJFOUFT DPNP TJ FTUVWJFSBT FO VO HSBO BDVBSJP /PT SFOEJNPT BM IFDIJ[P EFM NBS JOGJOJUP Z FO TV TVQFSGJDJF FODPOUSBNPT GBSPT RVF WFMBSÃO QPS OVFTUSPT TVFÒPT P HSBOEFT HSÙBT EF QVFSUP RVF TF USBOTGPS NBO QBSB BDPHFS WJEB IVNBOB FO TVT FOUSBÒBT EF IJFSSP %JF[ FTUBCMFDJNJFO UPT JOVTVBMFT RVF IBDFO UPEP MP QPTJCMF QBSB PGSFDFS B TVT IVÊTQFEFT EF VOB GPSNB V PUSB VOB FYQFSJFODJB ÙOJDB F JOPMWJEBCMF 5"/;"/*" 4J FM HSBO FTDSJUPS GSBODÊT +VMJP 7FSOF MFWBOUBSB MB DBCF[B OP MF DBCSÎB FO TV DBSB VOB TPOSJTB NÃT HSBOEF BM DPNQSPCBS DÓNP NVDIBT EF TVT BSSJFTHBEBT JEFBT TJHVFO IBDJÊOEPTF SFBMJEBE "VORVF MB EFTCPSEBOUF
JNBHJOBDJÓO EF 7FSOF FO 7FJOUFNJM MFHVBT EF WJBKF TVCNBSJOP SFDSFBCB MB WJEB FO FM /BVUJMVT MB PCSB TÎ RVF IB TFSWJEP DPNP JOTQJSBDJÓO QBSB DPOTUSVJS TVJUFT CBKP MB TVQFSGJDJF EFM PDÊBOP 5IF .BOUB 3FTPSU FO MB JTMB EF 1FNCB ;BO[ÎCBS EJTQPOF EF IBCJUBDJPOFT B DVBUSP NFUSPT EF QSPGVOEJEBE IFDIBT DPO VO WJESJP BDSÎMJDP USBOTQBSFOUF 4F USBUB EF WJMMBT VCJDBEBT TPCSF QMBUBGPSNBT GMPUBOUFT RVF UJFOFO USFT OJWFMFT FM UFDIP RVF FT QFSGFDUP QBSB MBO[BSUF BM BHVB MB QBSUF EF MB TVQFSGJDJF FO MB RVF IBZ VO NBHOÎGJDP QPSDIF DPO VOB NFTB Z MB QMBOUB CBKB FO MB RVF FTUÃ FM JODSFÎCMF EPSNJUPSJP DPO QBSFEFT EF WJESJP QBSB EJTGSVUBS EF MBT NBSBWJMMBT RVF PGSFDF FM GPOEP NBSJOP ● XXX UIFNBOUBSFTPSU DPN
'ZVTC
3&("-04 %& /"7*%"%
'3&& 41*3*5 41)&3&4
5)& 46/ $36*4& 3&4035 "/% :"$)5
#*7"$$0 (&37"4655*
4-&&1*/( "306/%
'&"5)&3#&% 3"*-30"% $0.1"/:
#3046/%&5
5)& ."/5" 3&4035
)0-"/%"
%FTQFSUBSTF QPS MBT NBÒBOBT DPO VOBT WJTUBT FOWJEJBCMFT TPCSF FM QVFSUP EF ¦NTUFSEBN QPOFO B DVBMRVJFSB EF CVFO IVNPS &M 'BSBMEB $SBOF IPUFM FT VOB BOUJHVB HSÙB QPSUVBSJB EF NFUSPT EF BMUVSB RVF IB TJEP SFDPOWFSUJEB FO IPTQFEBKF EF MVKP 4PMP EJTQPOF EF USFT FYDMVTJWBT TVJUFT RVF TF FODVFOUSBO FO MBT RVF BOUBÒP FSBO MBT TBMBT EF NÃRVJOBT FO FTUB NPMF EF IJFSSP 4J UJFOFT FM WBMPS OFDFTBSJP QBSB IBDFS QVFOUJOH EFTEF FMMB QVFEFT MBO[BSUF BM WBDÎP DPO SFTFSWB QSFWJB Z TFOUJS DÓNP UVT QVMTBDJPOFT Z UV DPSB[ÓO TF EJTQBSBO "RVFMMPT RVF OP CVTDBO FNPDJPOFT UBO GVFSUFT TJFNQSF QVFEFO UFSNJOBS MB KPSOBEB DPO VO SFMBKBOUF CBÒP FO FM KBDV[[J RVF IBZ FO MB B[PUFB ● GBSBMEB DPN
1"-"$*0 %& 4"-
+"1¶/
6OB GPSNB NVZ CBSBUB EF WJBKBS B 5PLJP FO FM QBÎT EFM 4PM /BDJFOUF FT BMPKÃOEPTF FO MPT IPUFMFT DÃQTVMB %PSNJS FO FTUF AQBSBÎTP EF EJTFÒP NJOJNBMJTUB OP FT BQUP QBSB
&M 1BMBDJP EF 4BM FO #PMJWJB FT VO IPUFM EF NFUSPT DVBESBEPT DPOUSVJEP UPUBMNFOUF EF TBM QFSTPOBT DPO DMBVTUSPGPCJB -BT AIBCJUBDJPOFT TPO FYUSFNBEBNFOUF QFRVFÒBT DBCJOBT EF VO NFUSP EF BMUVSB DPOTUSVJEBT FO EPT OJWFMFT Z VOB BM MBEP EF MB PUSB Z EF MP NÃT GVODJPOBM DBCF VOB DBNB VO UFMFWJTPS VOB SBEJP
Z QPDP NÃT $PNP FT EF JNBHJOBS MPT CBÒPT TPO DPNQBSUJEPT 0USB DBSBDUF SÎTUJDB EF FTUF UJQP EF FTUBCMFDJNJFOUPT FT RVF IBZ RVF EFKBS MPT [BQBUPT FO VOBT UBRVJMMBT Z DBM[BSTF VOBT [BQBUJMMBT EF BOEBS QPS DBTB &O FM DBTP EF FTUF IPUFM $BQTVMFWBMVF ,BOEB TPMP TF QFSNJUFO IPNCSFT QFSP FO PUSPT IBZ PQDJPOFT NJYUBT DBQTVMFJOO DPN LBOEB FO $"/"%¦ &WF &SZO Z .FMPEZ CJFO QPESÎBO TFS VOBT CFMMBT QSJODFTBT FMGBT EF PSFKBT QVOUJBHVEBT Z PKPT DMBSPT 1FSP FO SFBMJEBE TPO MPT OPNCSFT DPO MPT RVF VO QJOUPSFTDP IPUFM FO MB JTMB EF 7BODPVWFS IB CBVUJ[BEP B TVT USFT IBCJUBDJPOFT VOBT HSBOEFT FTGFSBT RVF DVFMHBO
'ZVTC
3&("-04 %& /"7*%"% EF ÃSCPMFT DFOUFOBSJPT 'SFF 4QJSJU 4QIFSFT FT VO TBOUVBSJP DBNVGMBEP FO QMFOB OBUVSBMF[B DBOBEJFOTF -PT DMJFOUFT QVFEFO QFSOPDUBS VOB OPDIF P VOB TFNBOB FO FTUBT FTGFSBT FDPMÓHJDBT DPOTUSVJEBT EF NBEFSB Z GJCSB EF WJESJP &O MB CBTF TF FODVFOUSBO MPT CBÒPT "M PUSP MBEP EFM FTUBORVF IBZ TBVOB Z ÃSFB EF CBSCBDPB Z QJDOJD GSFFTQJSJUTQIF
IBTUB QFSTPOBT "MMÎ EPOEF MB OBUVSBMF[B EFTQMJFHB TV NÃYJNB HSBOEF[B EJTGSVUBSÃT EF VOBT GBOUÃTUJ DBT QBOPSÃNJDBT EFM 7BMMF JUBMJBOP EF 'FSSFU .POU #MBOD ● XXX CJWBDDPHFSWBTVUUJ DPN
/036&("
SFT DPN TQIFSF@SBUFT
+FPOHEPOHKJO MPDBMJEBE EF OPNCSF JNQSPOVODJB CMF OP TF UF PMWJEBSÃ DVBOEP DPOP[DBT 5IF 4VO $SVJTF 3FTPSU BOE :BDIU VO IPUFM DPO MB GPSNB EF VO DSVDFSP EF NFUSPT EF FTMPSB 4VFOB EF MP NÃT SPNÃOUJDP zWFSEBE &M BTUJMMFSP RVF TF FODBSHÓ EF TV EJTFÒP DVJEÓ BM NÃYJNP MPT EFUBMMFT EF FTUF DVSJPTP QSPZFDUP EFTEF MB VCJDBDJÓO FO MP BMUP EF VO BDBOUJMBEP QBSB RVF QBSF[DB RVF FTUÃT OBWFHBOEP QBTBOEP QPS MB SFDSFBDJÓO EFM TPOJEP EFM NBS MBT IBCJUBDJPOFT RVF TPO DBNBSPUFT P TV DPOTUSVDDJÓO FO GPSNB EF DVCJFSUBT JEÊOUJDBT B MBT EF VO USBOTBUMÃOUJDP `&NCÃSDBUF FO ÊM Z HP[BSÃT EF MBT WFOUBKBT EF VO HSBO CBSDP QFSP TJO TVGSJS JODÓNPEPT NBSFPT FOHMJTI FTVODSVJTF DPN #-(*$" -B GJMPTPGÎB EF 4MFFQJOH "SPVOE FT MB EF VO IPUFM EF MVKP QPQ VQ QFSP DPO MB TJOHVMBSJEBE EF RVF IBO SFVUJMJ[BEP DPOUFOFEPSFT EF USBOTQPSUF NBSÎUJNP BCBOEPOBEPT Z MPT IBO USBOTGPSNBEP FO MVHBSFT IBCJUBCMFT QBSB EPSNJS &TUP OP RVJFSF EFDJS RVF MBT DVBUSP IBCJUBDJPOFT EF RVF EJTQP OFO TF FODVFOUSFO FO NBM FTUBEP .ÃT CJFO MP DPOUSBSJP DBNBT EF DBMJEBE EVDIB EF MMVWJB BMUBWPDFT QBSB DPOFDUBS FM J1PE )BZ EPT DPOUFOFEPSFT FYUSB
'BSPT WBHPOFT EF USFO DBTBT FO FM ÃSCPM P HSÙBT FOUSF MPT BMPKBNJFOUPT NÃT SBSPT EFM NVOEP
)05&- 4"/504 7"- %& /&6&
$03&" %&- 463
-6("3&4 .¦(*$04 " &4$"4" %*45"/$*" 5#.#/#0%# "CSB[BEB QPS VO
NPTBJDP EF FODJOBSFT WJÒFEPT Z PMJWPT FO FM DPSB[ÓO EFM 7BMMF EFM %VFSP EFTDBOTB MB )BDJFOEB ;PSJUB VOB SFTJEFODJB EPNJOJDB SFDPOWFSUJ EB FO IPUFM RVF FODJFSSB FO TVT NVSPT TJFUF TJHMPT EF IJTUPSJBT )BTUB BMMÎ WJBKÓ $SJTUÓCBM $PMPO FO CVTDB EF GJOBODJBDJÓO QBSB TV WJBKF B MBT *OEJBT -B DPDJOB EFM SFTUBVSBOUF EFM IPUFM SFDSFB FO VOB WFSTJÓO NÃT MJHFSB MPT USBEJDJPOBMFT QMBUPT RVF DPDJOBCBO MPT GSBJMFT EPNJOJDPT IUUQT UIF IBDJFO EBT DPN IBDJFOEB [PSJUB XJOF IPUFM TQB
EFTUJOBEPT B [POBT DPNVOFT FO VOP TF TJSWFO MBT DPNJEBT Z FO FM PUSP IBZ VOB TBVOB QBSB RVJFOFT CVTRVFO TV NPNFOUP EF SFMBY $BEB DJFSUP UJFNQP FM IPUFM DBNCJB EF VCJDBDJÓO BVORVF BIPSB NJTNP TF FODVFOUSB FO "NCFSFT XXX TMFFQJOHBSPVOE FV
*5"-*"
z2VJFSFT QBTBS VOB OPDIF P EPT FO VOB DÃQTVMB RVF QBSFDF PTDJMBS BM CPSEF EF VO QSFDJQJ DJP #JWBDDP (FSWBTVUUJ TJUVBEP B NFUSPT EF BMUVSB FO FM HMBDJBS 'SFCPV[FF GVF MB QSJNFSB DBCBÒB EF NBEFSB DPOTUSVJEB FO FO NFNPSJB EFM BMQJOJTUB (JVTUP (FSWB TVUUJ 4JO FNCBSHP FO TVGSJÓ VOB USBOTGPSNBDJÓO SBEJDBM Z BIPSB FT VO SFGVHJP EF NPOUBÒB RVF EJTUB CBTUBOUF EF BRVFMMB DMÃTJDB DBTJUB BMQJOB (SBDJBT B TV EJTFÒP TPTUFOJCMF GVODJPOB DPO FOFSHÎB TPMBS UJFOF BDDFTP B JOUFSOFU Z BEFNÃT TV JOUFSJPS EJTQPOF EF TBMBT EF FTUBS DPNFEPS Z EPT EPSNJUPSJPT RVF QVFEFO BDPNPEBS
%VSBOUF NÃT EF BÒPT FM 'BSP EF .PMKB IB BMVNCSBEP EVSBOUF MB OPDIF B MPT CBSDPT RVF FOUSBCBO FO FM QVFSUP EF "MFTVOE -PT QSPQJFUBSJPT EFM #SPTVOEFU RVJTJFSPO RVF FTUF HVÎB EF MV[ MMFOBTF EF NBHJB TV FTUBCMFDJNJFOUP Z PCUVWJFSPO VO DPOUSBUP EF DJFO BÒPT QBSB QPEFSMP FYQMPUBS "M GJOBM EFM FNCBSDBEFSP B DJODP NJOVUPT BOEBOEP EFTEF MB SFDFQDJÓO TF FSJHF MB IBCJUBDJÓO MB NÃT FTQFDJBM EF UPEBT &M FTUVEJP EF BSRVJUFDUVSB O IFUUB DPOPDJEPT QPS FM EJTFÒP EFM 0TMP 0QFSB )PVTF Z FM .VTFP EF MB ;POB $FSP EF /VFWB :PSL BDFQUÓ FM EFTBGÎP FODBOUBOEPS EF BEBQUBS FM JOUFSJPS EFM GBSP 4JO EVEB IBO DPOKVHBEP DPO HSBO BDJFSUP VOB NF[DMB EF FTUJMPT &M SÙTUJDP EF VO BVUÊOUJDP Z UPEBWÎB BDUJWP GBSP TF GVTJPOB TJO ESBNBUJTNP DPO VOBT JOTUBMBDJPOFT RVF TF TBCFO NPEFSOBT
● XXX CSPTVOEFU OP
&& 66
&M 'FBUIFSCFE 3BJMSPBE $PNQBOZ FO $BMJGPSOJB PGSFDF VOB FYQFSJFODJB EF BMPKBNJFOUP WFSEBEFSB NFOUF ÙOJDB QBTBS MB OPDIF FO WBHPOFT WJOUBHF EF GFSSPDBSSJM /VFWF FO UPUBM DBEB VOP EFDPSBEP DPO UFNÃUJDBT EF MP NÃT WBSJPQJOUP &OUSF MBT IBCJUBDJPOFT NÃT MMBNBUJWBT FTUÃO MB 0SJFOU &TQSFTT FO FTUJMP "SU %FDÓ MB &BTZ 3JEFS RVF UJFOF VO KBDV[[J QBSB EPT Z VO DBCFDFSP DPO VO NBOJMMBS EF )BSMFZ %BWJETPO P MB -PPTF $BCPPTF FO UFSDJPQFMP SPKP Z DPO SFMJRVJBT EFM .VTUBOH 3BODI FM QSJNFS QSPTUÎCVMP MFHBM EFM FTUBEP EF /FWBEB %BEP RVF MPT WBHPOFT TF NBOUJFOFO FTUÃUJDPT QVFEFT DPNQFOTBS MB DBSFODJB EFM IJQOÓUJDP USBRVFUFP EFM USFO EJTGSVUBOEP EF MBT WJTUBT BM MBHP $MFBS 4PO QBSB FOBNPSBSTF ● XXX GFBUIFSCFESBJMSPBE DPN
/#..14%# &M DMJNB BHSBEBCMF EFM
.FEJUFSSÃOFP FT VOB EF MBT SB[POFT RVF JOWJUBO B WJTJUBS MB JTMB EVSBOUF MBT WBDBDJPOFT EF /BWJEBE &M IPUFM #BSDFMÓ *MMFUBT "MCBUSPT TPMP QBSB BEVMUPT QSPQPOF QBDLT QBSB EFTDPOFDUBS DPO EFMJDJPTPT CSVODI GSFOUF BM NBS BDDFTP BM TQB Z VO EFUBMMF EF CJFOWFOJEB DPO GSFTBT DIPDPMBUF Z DPQB EF DBWB XXX CBSDF MP DPN #BSDFMP *MMFUBT"MCBUSPT
$#37'+4# $'4'6 %F FTUÊUJDB BMQJOB FM )PUFM 4BOUPT 7BM EF /FVF FT QFSGFDUP QBSB FM BNBOUF EF MPT EFQPSUFT EF OJFWF ZB RVF TF FODVFOUSB FO MB DPUB EF MB FTUBDJÓO EF #BRVFJSB &OUSF TVT BUSBDUJWPT EFTUBDB MB PGFSUB HBTUSP OÓNJDB DPO QSPQVFTUBT EF NPOUBÒB Z VO TQB RVF EJTQPOF FOUSF PUSPT EF VO KBDV[[J FYUFSJPS DPO FODBOUBEPSBT WJTUBT XXX I TBOUPT FT
#0-*7*"
4JUVBEP B PSJMMBT EFM NBKFTUVPTP 4BMBS EF 6ZVOJ B UBO TPMP LJMÓNFUSPT EF MB DJVEBE EFM NJTNP OPNCSF FTUÃ FM 1BMBDJP EF 4BM 4F USBUB EF VO IPUFM ÙOJDP FO FM NVOEP ZB RVF TVT NÃT EF NFUSPT DVBESBEPT FTUÃO DPOTUSVJEPT ÎOUFHSB NFOUF B CBTF EF TBM QBSFEFT QJTPT UFDIPT NVFCMFT FTDVMUVSBT `5JFOFO JODMVTP VO DBNQP EF HPMG EF TBM EF IPZPT RVF FTUÃ EJTFÒBEP QPS $ISJTUJBO 1FOTV 6O FTUBCMFDJNJFOUP FO FRVJMJ CSJP DPO MB OBUVSBMF[B Z DPO MB TJOHVMBS CFMMF[B EFM QBJTBKF RVF MP SPEFB FM NBZPS EFTJFSUP EF TBM DPOUJOVP Z BMUP EFM NVOEP RVF JODMVTP TF WF EFTEF FM FTQBDJP $VBOEP BDBCB FM EÎB MBT QVFTUBT EF TPM Z MPT DBNCJPT EF DPMPS RVF TF QSPEVDFO FO FM TBMBS TPO JODSFÎCMFT TPCSF UPEP DPO MB JNBHFO RVF EFKBO MBT JNQSFTJPOBOUFT TJFSSBT FO MB EJTUBODJB ● XXX QBMBDJPEFTBM DPN CP
'ZVTC
3&("-04 %& /"7*%"%
.¼4*$" -*#304 $*/& "."3¦4 56 40'¦ 103 &/$*." %& 50%0 5F EBNPT JEFBT QBSB RVF MBT UBSEFT EF JOWJFSOP TFBO NÃ&#x192;T MMFWBEFSBT DPO MP NÃ&#x192;T OVFWP FO WJEFPKVFHPT FEJDJPOFT FTQFDJBMFT EF UV QFMJ QSFGFSJEB Ã&#x2122;MUJNB UFNQPSBEB EF TFSJFT EF Ã&#x160;YJUP 5BNCJÃ&#x160;O QVFEFT EJTGSVUBS EF VO CVFO MJCSP P TBMUBS BM SJUNP EF -PT 3BNPOFT
$*/& : 4&3*&4
A".&3*$"/ )03303 4503: )05&- 1BDL DPO MB UFNQPSBEB EF MB TFSJF < â&#x201A;¬> XXX GOBD FT
1"$, DPO MBT QFMÃ&#x17D;DVMBT EF #VTDBOEP B %PSZ Z #VTDBOEP B /FNP < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
A45"3 8"34 7** &- %&41&35"3 %& -" '6&3;" 1FMÃ&#x17D;DVMB FO % DPO FYUSBT < â&#x201A;¬> XXX GOBD FT
A$0-&$$*¶/ ."3*-:/ .0/30& $VBUSP QFMÃ&#x17D;DVMBT EF TV GJMNPHSBGÃ&#x17D;B < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
A-04 +6&(04 %&- )".#3& &EJDJÃ&#x201C;O MJNJUBEB EF MB QFMÃ&#x17D;DVMB QSPUBHPOJ[BEB QPS +FOOJGFS -BXSFODF FO GPSNBUP #MV 3BZ P %7% < â&#x201A;¬> XXX GOBD FT
7*%&0+6&(04
1-"/54 74 ;0.#*&4 -PT 4JNT Z 'JGB TF FODVFOUSBO FO MB MJTUB EF MPT KVFHPT NÃ&#x192;T EFNBOEBEPT QBSB /BWJEBE < â&#x201A;¬ â&#x201A;¬ â&#x201A;¬> XXX GOBD FT
1"$, %*4)0/03&% +VFHP DPNQMFUP BOJMMP EF &NJMZ ,BMEXJO DBSUFM < â&#x201A;¬> XXX HBNF FT
10,Â.0/ -6/" QSFTFOUB VO NVOEP OVFWP DPO NÃ&#x192;T 1PLÃ&#x160;NPO Z BWFOUVSBT < â&#x201A;¬> XXX GOBD FT
6/$)"35&% &- %&4&/-"$& UF MMFWB QPS WBSJBT QBSUFT EFM NVOEP < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
'ZVTC
3&("-04 %& /"7*%"%
-*#304
.¼4*$" A4*/"53" &EJDJÃ&#x201C;O FTQFDJBM QPS FM Â&#x17D; BOJWFSTBSJP 7JOJMP %7% $% < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
A-" *4-" %&- 5&4030 EF 3 - 4UFWFOTPO $PMFDDJÃ&#x201C;O EF DMÃ&#x192;TJDPT EF MJUFSBUVSB KVWFOJM < â&#x201A;¬> "VTUSBM
A-" $*6%"% -VJT ;VFDP DPOUJOÃ&#x2122;B TV Ã&#x160;QJDB USJMPHÃ&#x17D;B NFEJFWBM RVF JOJDJÃ&#x201C; DPO &M $BTUJMMP < â&#x201A;¬> &EJDJPOFT #
A-" '6&3;" %& &304 EF .BSÃ&#x17D;B +PTÃ&#x160; .PSFOP 6O UISJMMFS TPCSF MPT EFTFPT NÃ&#x192;T QFSWFSTPT < â&#x201A;¬> 7FSTÃ&#x192;UJM
A-" 7±41&3" %& $"4* 50%0 /PWFMB EF NJTUFSJP EF 7Ã&#x17D;DUPS EFM ¦SCPM QSFNJP /BEBM < â&#x201A;¬> %FTUJOP
A$"-&/%"3 (*3- "VESFZ $BSMBO &M WJBKF EF BNPS FOUSF .JB Z 8FT MMFHB B TV GJO USBT VO BÃ&#x2019;P < â&#x201A;¬> 1MBOFUB
A1"53*" 'FSOBOEP "SBNCVSV SFDSFB &VTLBEJ EVSBOUF BÃ&#x2019;PT EF BDPTP FUBSSB < â&#x201A;¬> 5VTRVFUT
A-04 '65#0-±4*.04 $PMFDDJÃ&#x201C;O EF GÃ&#x2122;UCPM Z NJTUFSJP QBSB MFDUPSFT B QBSUJS EF PDIP BÃ&#x2019;PT < â&#x201A;¬> 4.
A-" $)*$" %&- 53&/ EF 1BVMB )BXLJOT #FTUTFMMFS EF JOUSJHB RVF BSSBTB FO &&66 < â&#x201A;¬> 1MBOFUB
A#0# %:-"/ 5)& -*7& 3&$03%*/( FT VOB SFDPQJMBDJÃ&#x201C;O EF UPEBT MBT HSBCBDJPOFT EF TV HJSB NVOEJBM EF < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
A4*" 5)*4 *4 "$5*/( TÃ&#x160;QUJNP Ã&#x192;MCVN EF MB DBOUBOUF BVTUSBMJBOB < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
A-&0/"3% $0)&/ :06 8"/5 Ã&#x2122;MUJNP USBCBKP BOUFT EF RVF NVSJFTF < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
A3".0/&4 &EJDJÃ&#x201C;O FTQFDJBM QPS FM Â&#x17D; BOJWFSTBSJP *ODMVZF $% WJOJMP < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
'ZVTC
3&("-04 %& /"7*%"%
+6(6&5&4 -" ."(*" */0$&/5& %& -" /"7*%"% 6OB BMGPNCSB MMFOB EF KVHVFUFT FT FM TVFÃ&#x2019;P EF UPEP OJÃ&#x2019;P RVF IB FTQFSBEP DPO JMVTJÃ&#x201C;O MB MMFHBEB EF 1BQÃ&#x192; /PFM P MPT 3FZFT .BHPT A4UBS 8BST A4VQFS 8JOHT ESPOFT MB #BSCJF )PWFSCPBSE .Z -JUUMF 1POZ FODBCF[BSÃ&#x192;O MB MJTUB EF MPT EFTFPT FTUBT /BWJEBEFT
#"3#*& )07&3#0"3% FT VO ESPO EF DPOUSPM SFNPUP 4V NBOFKP FT TFODJMMP Z QFSNJUF FKFDVUBS UBNCJÃ&#x160;O GJHVSBT QSPHSBNBEBT < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
$".*/0 %& -6; JOBMÃ&#x192;NCSJDP QBSB JMVNJOBS MB IBCJUBDJÃ&#x201C;O EF MPT OJÃ&#x2019;PT "VUPOPNÃ&#x17D;B EF IPSBT Z VOB CBTF EF SFDBSHB < â&#x201A;¬> XXX CBCZBOEDPPM FT
+6&(0 %& .&4" RVF DPOTJTUF FO DPHFS GSVUBT Z WFSEVSBT EF VO DPNFEFSP DPO VO NPSSP EF DFSEJUP HMPUÃ&#x201C;O < â&#x201A;¬> XXX UPZTSVT FT
1*"/0 %& 46&-0 &-&$53¶/*$0 EF N EF MBSHP $POFYJÃ&#x201C;O NQ NFMPEÃ&#x17D;BT Z EFNP DPO JOUSVNFOUPT < â&#x201A;¬> XXX JNBHJOBSJVN FT
"&3016&350 EF MPT 4VQFS 8JOHT *ODMVZF SBNQBT DBSSVTFM EF QBRVFUFT SBNQB HJSBUPSJB Z QMBUBGPSNB EF MBO[BNJFOUP < â&#x201A;¬> XXX BNB[PO FT
161*53& EF MB FYJUPTB #MB[F RVF QFSNJUF EFTBSSPMMBS MB DSFBUJWJEBE " QBSUJS EF NFTFT < â&#x201A;¬> IUUQ GBCSJDBKVHVFUFT DPN DIJDPT
#*$*$-&5" EF TQPSU DPO DVBESP EF BDFSP Z SVFEBT EF DPO OFVNÃ&#x192;UJDPT EF EF BODIVSB Z DVCJFSUB EF UBDPT < â&#x201A;¬> XXX JNBHJOBSJVN FT
'ZVTC
3&("-04 %& /"7*%"%
+6(6&5&4
$"45*--0 EF DSJTUBM EFM VOJWFSTP .Z -JUUMF 1POZ DPO VO USPOP SPUBUPSJP Z MVDFT $POUJFOF BDDFTPSJPT QBSB KVHBS < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
% 4$6-1563& 16;;-& EF &EVDB EF *SPONBO $POTUSVZF MB FTDVMUVSB BQJMBOEP MBT DBQBT QJF[BT EF DBSUÃ&#x201C;O < â&#x201A;¬> XXX FMDPSUFJOHMFT FT
4*.0/ "*3 WFSTJÃ&#x201C;O NPEFSOB EFM KVFHP FO FM RVF IBZ RVF NJSBS SFDPSEBS Z SFQFUJS MB TFDVFODJB EF MVDFT Z DPMPSFT < â&#x201A;¬> IUUQT KVHVFUUPT DPN
+6&(0 %& .&4" EF &EVDB QFOTBEP QBSB MPT BNBOUFT EF MBT JNJUBDJPOFT .Ã&#x2122;MUJQMFT QPTJCJMJEBEFT QBSB BVNFOUBS MB EJWFSTJÃ&#x201C;O < â&#x201A;¬> XXX BNB[PO FT
3&-0+ RVF SFDPOPDF NÃ&#x192;T EF NFEBMMBT EF MPT :P ,BJ 3FQSPEVDF DBODJPOFT FM TPOJEP EF MB JOWPDBDJÃ&#x201C;O Z OPNCSFT :P LBJ < â&#x201A;¬> XXX BNB[PO FT
'0'6$)" 1JYJF RVF USBTMBEB BM NVOEP JOGBOUJM FM DPODFQUP EF FTUBT TJNQÃ&#x192;UJDBT NVÃ&#x2019;FDBT DPO QJFSOBT MBSHBT Z HSBOEFT QJFT < â&#x201A;¬> IUUQT KVHVFUUPT DPN
%30/& EF 4UBS 8BST DBQB[ EF MMFWBS B DBCP CBUBMMBT FO QMFOP WVFMP MBO[BOEP NJTJMFT JOUFSHBMÃ&#x192;DUJDPT B MPT DPOUSJODBOUFT < â&#x201A;¬> 5JFOEBT FTQFDJBMJ[BEBT
'ZVTC
3&("-04 %& /"7*%"%
%&1035&4 5*&.10 %& "7&/563"4 "EJDUPT BM AHZN ASVOOFST FNQFEFSOJEPT BNBOUFT EFM FTRVÃ&#x17D; P MPDPT QPS FM ATOPX HPMGJTUBT RVF CVTDBO FM HSFFO QSPNFUJEP $VBMRVJFS GBOÃ&#x192;UJDP EF MPT EFQPSUFT BHSBEFDFSÃ&#x192; SFDJCJS FO /BWJEBE VO SFHBMP SFMBDJPOBEP DPO TV IPCCZ
("'"4 3BEBS 1BDF EF 0BLMFZ DPO TJTUFNB EF FOUSFOBNJFOUP FO UJFNQP SFBM BDUJWBEP QPS WP[ $SFB VO QSPHSBNB FYDMVTJWP < â&#x201A;¬> XXX PBLMFZ DPN FT
&426±4 EF 3PYZ EJTFÃ&#x2019;BEPT QBSB QSBDUJDBS GSFFSJEF GVFSB EF QJTUB FO OJFWFT WÃ&#x17D;SHFOFT 1FSNJUF UFOFS CVFOB GMPUBCJMJEBE < â&#x201A;¬> XXX SPYZ FT
#0-4" %& (0-' EF +BHVBS FO DPMBCPSBDJÃ&#x201C;O DPO /JLF 5JFOF DPSSFBT EFTNPOUBCMFT QBSB QPOFS Z RVJUBS EFM DBSSJUP < â&#x201A;¬> IUUQT TIPQ KBHVBS DPN
$".*4&5" QBSB IPNCSF EF $ " EF UFKJEP FMÃ&#x192;TUJDP QFSGFDUB QBSB TBMJS B DPSSFS P JS BM HJNOBTJP B FOUSFOBS < â&#x201A;¬> XXX D BOE B DPN FT
$)"26&5" EF FTRVÃ&#x17D; EF )FMMZ )BOTFO QBSB NVKFS *ODPSQPSB FM TJTUFNB 3&$$0 Z VOB UFDOPMPHÃ&#x17D;B RVF SFHVMB MB UFNQFSBUVSB < â&#x201A;¬> XXX IFMMZIBOTFO DPN
;"1"5*--"4 EF DPNQFUJDJÃ&#x201C;O EF /FX #BMBODF 0GSFDFO VOB FTUBCJMJEBE MJHFSB RVF BZVEB B DPOUSBSSFTUBS MB QSPOBDJÃ&#x201C;O < â&#x201A;¬> XXX OFXCBMBODF FT
1"/5"-¶/ EF FTRVÃ&#x17D; DPMPS MJNB EF + -JOEFCFSH $POGFDDJPOBEPT DPO VO UFKJEP MJHFSP RVF SFQFMF FM BHVB Z NBOUJFOF FM DBMPS < â&#x201A;¬> XXX [BMBOEP FT