VENTANALES 14

Page 1

!""#$%&'()*+'&'

,-.!"/0%"-1-"/,02 034%.!!!%*%#45%&6%7%894:;4%<)&( !#=2>?-%@A""!-,%@-%B>0?0C>!2% "AD,-%-2%=!!="%<)&E FFF5G8:89H8IJK5KJL5KG



!"#$%&'&%()*+,-,+./'$ ")%0,/+%1'1*&'+'*2/')1, 2"'3'4"%$*5*,&"'16/ '26+.6*789: ';6*0%%%*5*)<=*9>


!"#$%#%&"' !"#$%#&'()* !+#&,---&./012#&)3 4.-,567-8!8&9!7!&:6!.85 9;<=>=1?>&@;2>A?#21$B !CD&E>$&F>?0>$&G&H(3&I&J>??1&3%>D K0&HDL&CM>&>&8><?1 N21O%1&>&?>&P<12%>&GQ&=1?&9D9D&!?RSO&T#2U> :<>I>V<;?&W&5J<>=#2 FTXY&ZL*H&3[&''(&')\( 8;21JJ;]O&=1&F<R?;J>J;#O1$Y FTXY&ZL*H&3[&H^'Q'L(&W&5_%Y&H)L(&W&H)L) !!!"#$%$&'$()*"*)+"*#

,1O%>O>?1$&`1RY ,--./001*(-$($2*%"#$%$&'$()*"*)+"*# -77.Y)H*(WQH)H -0P21$#&P#2&:2SA;J>$&a12OSO=1b&7D!D 71&;0P2;0;12#O&^((&1U10P?>21$ -0P21$#&1O&5J<>=#2 :<>I>V<;?B&>"#$%#&'()* c#=#$&?#$&=121Jd#$&21$12C>=#$D&.;O"<O>&P>2%1& =1& 1$%>& P<R?;J>J;]O& P<1=1& $12& 21P2#=<J;=>B& <%;?;b>=>& #& %2>O$0;%;=>B& $;O& ;OJ?<;2& ?>& J;%>& R;R?;#"2SA;J>&J#221$P#O=;1O%1D

N<1O%1$& <%;?;b>=>$Y& !"A>& 6#%;$& 7>O$& 712;AB& !C1O;2B& N<%<2>B& 8-.B& 9N& e#dO& 8#1B& T1R>$& .1<1B& 6#R#%#B& @##O& :1%fB& a1?C1%;J>B& :;??& 7>O$B& @;O;#O& F2#B& 7>=& K2#P#%g;O& E><"dB& E10#O&@;?gB&9d>$;O"&50R12$B&-0P>J%B&!"1OJI& NTB&8;0R#B&8g&F>2>=;$1&E#$%B&:##=&8#"&F?>;OB& c2>U>O&F2#D& 3$'$4 #$'-$%4 )*4 25%4 2*#-5'*%64 7(85'9$#7:(4 .$'$4 *24 *(1;54 )*4 $'-;#+25%64 4 &'<87#$%4 =4 .$'$4 )7%-'7>+#7:(64#59+(7#$'%*4#5(/ @!,-=/A,%@-%M>D2!=0=!A#-"%@-%20%>=B 19;H5%NL8I%@K%0O;P8L:%BL8HJKH8: U>?%d><$hJ>$>"2>O=1D1=<D1J .#%>& =1?& 5=;%#2Y& E#$& >2%MJ<?#$& $;O& ><%#2& $#O& 21$P#O$>R;?;=>=& =1?& 8;21J%#2& =1& F<R?;J>J;#O1$& I& =1?&!$;$%1O%1&=1&?>&8;21JJ;]O&=1&F<R?;J>J;#O1$D&&5O& 1?&J>$#&=1&><%#21$&V<1&1$J2;R>O&C>2;#$&>2%MJ<?#$B& $<&9,&$#?#&$1&;OJ?<;2S&1O&<O#&=1&1??#$D


!"#$%&'()$*(&+*,-.)/&".&0(-)(&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& !"#$%&#'()*&#+*,-'$#.-*&#*/#0#'(#$

!"#$%&"'()

1)%&2)(3$*4$5&6#.)/(&'53/(,75 1%2#3"#$%&#'(#*&#+*,-'$#.-*&#*/#0#'(#$ '8/)%&9*:.3(&0(-)(&+*,-.)/ ,)'2%++#" '8/)%&;./*$*(&<)$=4&>().?(& 1%2#2)'2%++#"

'8/)%&@#".,*(&6*8A&".&BA*)*-58( /#2(-")

'0@%&1(3*.,&H(,.3O#.,(&>A*,,*U4 4%"#2(-"*&#*5#$(%:'*G'%=#"$%()"%)*8*;&<%$%-'#$

>A%1%&C$D&'()E(&'.)$.".4&F.).8( 1%2#""#2(-")

'8/)%&1(3*.,(&2.)3L3".O&'(,3(/* 4%"#2(-")*&#*+)*G'%&)&*&#*!"-E#$%-')+%H)'(#$

'8/)%&9.44*$(&G#*3/(3(&H.)( 4%"#2(-")*5#'#")+*&#*/#$3-'$)6%+%&)&*7-2%)+*8*1%'29+)2%:'

!"%1%&C$D&'(3#.,&'#))*./(&HL4T#.O 4%"#2(-"*&#*!+)'%E%2)2%:'*8*I=)+9)2%:'

;$"5%&9(*:.&9()(:*,,5&B(4/*,,5I&'0@ 4%"#2(-"*5#'#")+*;&<%'%$(")(%=-*>%')'2%#"-

'8/)%&'(,V(&+5,".3-.)8 ,--"&%')&-")*5#'#")+*&#*J%#'#$()"*I$(9&%)'(%+

;$"5%&J,.-.)&K*35$5&'5)L3 7#2"#()"%-*5#'#")+

@-=0#0/A"

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

'0@%&'5".4/5&B5)).(&M(3&@3")=4 4#2)'-*I<C"%(-*&#*+)*G'%=#"$%&)&*,)$)*5")'&# >A%1%&P5")*85&B*4/.)3(4&<45)*5 4#2)'-*>)29+()&*&#*,-<9'%2)2%:'*K:'%2)*L#""#") W38%&+#*"5&BA*)*-58(&6*8AI&'0@ 4#2)'-*>)29+()&*&#*;&<%'%$(")2%:'*8*,%#'2%)$*!-+@(%2)$ >A%1%&X*$5,(&N*,,4&!4U*354( 4#2)')*>)29+()&*&#*I2-+-0@)*L9<)')M*I&92)2%:'*8*4#$)""-++&

0"-"A,-" '0@%&'()E(&K*-(#&W/#))(,". ;$#$-")*5#'#")+ ;*$%&!,.3(&0./(3$5#)/ ;$#$-")*IN(#"')*#'*;$9'(-$*I$(9&%)'(%+#$ @-8%&'Y3*$(&>(,.3$*(&XZ[.O& ;$#$-")*O#0)+*


%.'/$8.($!"2.#"-,(9$'2-'-,$/ !"%&'()$*(&+*,-.)/&".&0(-)( !"#$%&#'()*&#+*,-'$#.-*&#*/#0#'(#$

'8/)%&'5".4/5&B5)).( 4#2)'-*I<C"%(-*&#*+)*G'%=#"$%&)&*,)$)*5")'&#

'8/)%&@#".,*(&6*8A&".&BA*)*-58( /#2(-")

>A%&1%&P5")*85&B*4/.)3(4 4#2)'-*&#*+)*>)29+()&*&#*,-<9'%2)2%:'*K:'%2)*L#""#")

'8/)%&9#(3&".&@,/A(#4&+#()".)(4 4%"#2(-"*&#*!96+%2)2%-'#$*

W38%&+#*"5&BA*)*-58(&6*8AI&'0@ 4#2)'-*>)29+()&*&#*;&<%'%$(")2%:'*8*,%#'2%)$*!-+@(%2)$

'8/)%&+*,"(&'($E(4&B():*83(3* ,--"&%')2%:'*;2)&C<%2)*I&%(-"%)+

>A%&1%&X*$5,(&N*,,4 4#2)')*&#*+)*>)29+()&*&#*I2-+-0@)*L9<)')M* I&92)2%:'*8*4#$)""-++-

>A%&1%&;#$*,(&>=).O 4#2)')*&#*+)*>)29+()&*&#*!-$0")&-$ >A%&1%&C$D&B,(#"*(&>(/)*$*(&R)*-. 4%"#2(-")*&#*D'=#$(%0)2%:'

'8/)%&>(:.,(&H*,,(7*$.3$*5 4-2#'(#*%'=#$(%0)&-")*#'*P"#)*&#*4%$#Y-*5"PE%2-

%#*!"&()

EDICIÓN DE VENTANALES !"#$%%"&'(!$()*+,"%-%".'$/

!"/$:.(6#;5"%.($(",*/2#-%"&'

'8/)%&9#(3&".&@,/A(#4&+#()".)(4

K%M%&2(-)*OO*5&;YU.O 5")&9)&-*#'*+)*G,5

K)0@$(#"* #'* !$%2-)'P+%$%$* 2-'* <#'2%:'* #'* ,+@'%2)* !$%2-)')+@(%2)* &#* +)* G'%=#"$%&)&* ,)(:+%2)* 7)'(%)0-* &#* 59)8)Q9%+R* O%2#'2%)&-* #'* L9<)'%&)&#$* 2-'* <#'2%:'* #'* L%$(-"%)* 3-"* +)* G'%=#"$%&)&* ,)(:+%2)* &#* O%<)M* 8* #$(9&%-$* #'* !$%2-+-0@)*,+@'%2)R*;9(-"*&#*=)"%-$*)"(@29+-$*#'*+%6"-$M*"#=%$()$* 8*$%(%-$*S#6R*!$%2-)')+%$()*3")2(%2)'(#M*&-2#'(#*8*4%"#2(-"*&#* !96+%2)2%-'#$*&#*+)*G'%=#"$%&)&*,)$)*5")'&#R %..#!"'-%"&'(-%-!01"%-($!"2.#"-, '8/)%&+*,"(&'($E(4&B():*83(3* K)0@$(#"* #'* 4-2#'2%)* 793#"%-"* 3-"* +)* G'%=#"$%&)&* ,)$)* 5")'&#* TG,5U* 8* #$3#2%)+%$()* #'* 5#$(%:'* G'%=#"$%()"%)* 3-"* +)* G'%=#"$%&)&* &#* 7#=%++)R* >9#* ,--"&%')&-")* &#* !#&)0-0@)* V#")3C9(%2)*#'*+)*G'%=#"$%&)&*&#*59)8)Q9%+*8*&#*;3"#'&)<-$* TK9'%2%3)+%&)&* &#* 59)8)Q9%+UW* 4%"#2(-")* &#* >;7DB;/KM* &-2#'(#* &#* 0")&-* 8* 3-$0")&-M* #N&#2)')* &#* +)* >)29+()&* &#* I2-+-0@)* L9<)')* 8* &%"#2(-")* &#* 3+)'%E%2)2%:'* &#* G,5W* 3"#$%&#'()* &#* =)"%)$* "#&#$* 8* <%#<6"-* )2(%=-* &#* +)* $-2%#&)&* 2%=%+R* L)* $%&-* 2-+9<'%$()* &#+* &%)"%-* IN3"#$-* 8* X)* * 396+%2)&-* =)"%)$*%'=#$(%0)2%-'#$*8*)"(@29+-$*#'*+%6"-$*8*"#=%$()$R -/"/2$'2$(!$(!"#$%%"&'(!$()*+,"%-%".'$/3( #$!-%%"&'(4(5.2.6#-57'8/)%&'()E(&B)*4/*3(&@3")(". K)0@$(#"*#'*,%'#<)(-0")E@)*&#*+)*G'%=#"$%&)&*&#*,:"&-6)*TI$3)Y)U* 8*+%2#'2%)&)*#'*!#"%-&%$<-*&#*G,5R*5#$(-")*29+(9")+*8*3"-&92(-")* &#*)2(%=%&)&#$*)"(@$(%2)$R*,-""#2(-")*&#*#$(%+-*8*-"(-(%3-0"PE%2)*&#* &-29<#'(-$*)2)&C<%2-$M*+%(#")"%-$*8*2-"3-")(%=-$R

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

453&35:-)("(4&4.8Z3&,54&"*Q.).3/.4&.4U($*54& ".&#3(&$(4(I&(,#"*.3"5&(&7E3$#,54&45$*(,.4&".& Q(:*,*()*"("I&:#S&U)5U*54&".&@:=)*$(&;(/*3(%& W3$,#S.3& ).U5)/(?.4I& *3Q5):.4I& .3/).7*4/(4I& $5:.3/()*54I& /.`/54& ,*/.)()*54I& .34(S54I& *37.4/*8($*53.4& S& ".:L4%& @"*$*53(,:.3/.I& 4.& U#-,*$(& .,& 1544*.)& ".& +#(S(T#*,I& $53& #3(&#3*"("&/.:L/*$(&T#.&$#-).&#3(&:*)("(& 4*38#,()& 45-).& 3#.4/)(& $*#"("& S& .,& :#3"5I& ".4".&,(&RB+% %.'!"%".'$/()-#,-()#$/$'2-%"&'(!$($/%#"2./ a%&&&;54&/.`/54&U).4.3/("54&U()(&4#&U#-,*$($*Y3& ".-.3&4.)&5)*8*3(,.4&.&*3="*/54% b%& ;54& .4$)*/54& ".-.3& ).4U./()& ,(4& ).8,(4& ".& .4$)*/#)(& ".& ,(& P.(,& @$(".:*(& ".& ,(& ;.38#(&!4U([5,(% c%& ;54&.34(S54&S&()/E$#,54&".&*37.4/*8($*Y3& ".-.3&)."($/()4.&4.8Z3&.,&4*4/.:(&@>@I& Z,/*:(& 7.)4*Y3d& ".& *8#(,& :(3.)(I& ,(4& $*/(4I&).Q.).3$*(4&S&,(&-*-,*58)(QE(% e%& ;54&*3/.).4("54&.3&U#-,*$()&".-.3&.37*()& #3& ).4#:.3& ".& :L`*:5& 4.*4& ,E3.(4& ".& ,(& U)5U#.4/(& ".& ()/E$#,5& (,& 1*).$/5)& ".& >#-,*$($*53.4& ".& ,(& RB+%& ;#.85& 4.& $5:#3*$()L& 4#& (U)5-($*Y3I& 3.8($*Y3& 5& :5"*Q*$($*Y3% f%& ;54& /.`/54& ".Q*3*/*754& ".-.3& /.3.)& #3(& .`/.34*Y3& ".& bIfgg& 5& fIfgg& $()($/.).4& C*3$,#S.3"5& $()($/.).4& $53& .4U($*54DI& 4(,75& .`$.U$*53.4& T#.& ,5& (:.)*/.3%& 1.-.3& 4.)& )."($/("54& .3& N5)"I& $53& Q#.3/.&K*:.4&X.h&P5:(3I&/(:([5&ab&S& .4U($*5&4*:U,.%&B("(&.4$)*/5&".-.&*3$,#*)&

*1+#-,

!

.,&/E/#,5I&35:-).&".,&(#/5)&5&(#/5).4I&4#& BH& .3& :L`*:5& /).4& ,E3.(4I& #3& (-4/)($/& 5& ).4#:.3& .3& .4U([5,& .& *38,=4& ".& 4.*4& ,E3.(4I& S& ([("*)& ,(4& U(,(-)(4& $,(7.%& M.& .37*()L&(,&1*).$/5)&".&>#-,*$($*53.4&".&,(& RB+I&.3&("?#3/5I&7E(&$5)).5&.,.$/)Y3*$5%& ;54& ()/E$#,54& U(4()L3& U5)& #3(& ).7*4*Y3& ."*/5)*(,&S&$5)).$$*Y3&".&.4/*,5% i%& ;(4& $53/)*-#$*53.4& ".Q*3*/*7(4& ".-.3& .37*()4.& A(4/(& .,& a& ".& :(S5& CU()(& ,(& ."*$*Y3& ".& (854/5& ".,& ([5& .3& $#)45D& 5& A(4/(&.,&a&".&5$/#-).&".&$("(&([5&CU()(& ,(&."*$*Y3&".&.3.)5&".,&4*8#*.3/.&([5D% %.'!"%".'$/()-#-( ,-()#$/$'2-%"&'(!$( ",*/2#-%".'$/(4(5.2./ a%& ;(4&Q5/54&S&8)LQ*$(4&".-.3&4.)&5)*8*3(,.4& .&*3="*/(4% b%& ;(4& *:L8.3.4& ".-.3& 4.)& .3& Q5):(/5& "*8*/(,&S&(,/(&).45,#$*Y3&CcggUU*D% c%& 1.-.3&*3$,#*)&.,&$)="*/5&".&$("(&8)LQ*$(I& ,(& Q.$A(& ".& ).(,*O($*Y3& SI& 5U$*53(,I& #3(& -).7.& ".4$)*U$*Y3& ".& ,(& *:(8.3& .3& :L`*:5&ag&,E3.(4&".&N5)"%

>()(&:(S5)&*3Q5):($*Y3I&$5:#3*$()4.&$53&.,&'8/)%&9#(3&".& @,/A(#4&+#()".)(4I&1*).$/5)&".&>#-,*$($*53.4&".&,(&RB+I&(,& /.,.Q%&Cfjc&eD&ckbibfg&l&!`/%&cafgI&5&(&?(,/A(#4m$(4(8)(3".% ."#%.$d&5&$53&'8/)%&'()E(&B)*4/*3(&@3")(".I&(4*4/.3/.&".&,(& 1*).$$*Y3&".&>#-,*$($*53.4I&/.,.Q%&Cfjc&eD&ckbibfg&l&!`/%&cafaI& 5&(&:(3")(".(m$(4(8)(3".%."#%.$


!"#$% 234567

(")"*)+,# -JQ;4HQ8O% &

&

&

&

&

&

&&&&&)

'%&%-."-"'$%( ,KRKI:8S4:%O8:%S8OO8:%T%8SROQ8S4:%O8%SQH8J8 ?(-'*17%-$4$43'7%#722$44@$'#,<(& & &

&

&

&&&&&6

@K:8HS8H%;4J4%T%HKG4I:;HLQHO4&?(-'*17%-$4$4A5)'7&54B7%-*'($%&&&&&&&&&&&&&&&&&&&&&&&&&&&&+ -IU8;QV8S4:%O8%HK:R4I:8WQOQJ8J%:4GQ8O%KSRHK:8HQ8O%QI;KHI8GQ4I8O T%R4OX;QG8%?(-'*17%-$4$4@5)*%-54B5''*$&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&E -:%LI%JKWKH%GXYQG4%:KH%J4GKI;K&?(-'*17%-$4$4C7#52$4D722%4444444&&&&&&&&&&&&&&&&&&&&&&&&&&&<) /%&"(0% D!@%<)&($%LI%GLK:;Q4I8SQKI;4%8%O8%D8LP8L:%JK:JK%O4%8G8JZSQG4&&

&&&&<6

0H;K[%JQ:K34%T%JKG4H8GQ\I%OOK98%8%>IQYKH:QJ8J%=8:89H8IJK%%% %

%%%%<+

-:;LJQ8I;K%JK%@Q:K34%BH]UQG4%;HQLIU8%KI%G4IGLH:4%!I;KHI8GQ4I8O&

&&&&<^

-_R4:QGQ\I%`MH4;4;QR4:a%K_PQWQ\%U4;4:[%4WbK;4:%T%RH4TKG;4: JKO%8H;Q:;8%c8YQKH%DOLS% % % %

%%%&<E

%

-:;LJQ8I;K:%JK%G4OK9Q4%8JdLQKHKI%JK:;HKV8:%KI%>=B&.5'4E*-7#7$4F'#G%&&&&&&&&&&&'< &

&&&&''

MKH:RKG;QY8:%JK%SLbKHK:%LIQYKH:Q;8HQ8:$%!I:K9LHQJ8J%KI%;H8I:R4H;K:% ReWOQG4:%T%:L:%8OHKJKJ4HK:&.5'4J$9$'$4K*''$(54H:9*I&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&'f =LKI;4%gR8H4I4R8H4&.5'43$I4H+-7G''*I4L=$2$&

&

&&&&6)

0OQ8IV8%BOQ8%T%-:8I&.5'4B$'7)$)4L'5%*9*($44

4

44444446&

&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&'^

-:;LJQ8I;K:%JK%-JLG8GQ\I%GLSROQKH4I%JK:8UX4%HK8O%G4I%Z_Q;4& .5'4@$'7$4H$>'7*2$4M$272&& & & & &

4

,KUOK_Q4IK:%:4WHK%O8%QII4Y8GQ\I&?(-'*17%-$4$4P$>7<(4Q+*(54R?KLCS&&

&&&&6<

=QGO4%JK%GP8HO8:%8%;H8YZ:%JK%K_RKHQKIGQ8:&

&&

&

&&&&66

&

&

&&&&6E

)1((".1("' -:;LJQ8I;K:%JK%>=B%KSRHKIJKI&4

4

''%YKGK:%hQIK:$%iCLZ%K:%LI%U4H4%JK%J8IV8j%.5'4B$'527($43*..*'&&

&&&&f)

=LKI;4$%-O%SLIJ4%JK%O8%U8I;8:X8&.5'4T$2*(-7($4TG2*I4@$('7O+*&&

&&&&f<

=LKI;4$%MLKH;8%8%O8%OQWKH;8J&.5'4L2*U$()'54FU*)$ M4KS8$%i?%;e%JK%dLZ%O8J4%dLQKHK:%K:;8Hj4.5'4K$29$4A5U$%4A5)';&+*I&&&&&&%f6 =8:8%0JKI;H4%QI%:P4H;&<)&(&&&

&

&

&

&

&&&&&&&&&&&&&&&&&&&%fE

28%G4I;QILQJ8J%JKO%RKHQ4JQ:S4%ULKH8%JK%O8%HKJ8GGQ\I& ?(-'*17%-$4$4E=((*4D$2V*'% % % %%%%

%

%%%+)

M8L;8:%R8H8%8;KIJKH%O8%JQYKH:QJ8J%.5'4K+*27(4C5'7*&$44

4

444444+<

k8WOKS4:%JK%!"#$%&'()"*&&?(-'*17%-$4$4K$(-5%4W'>7($4

&&&&&&&&&&&&&&&&&&&&&&+6

#K;F4HlQI9%#Q9P;[%4GQ4[%GQLJ8J%T%:4OLGQ4IK:%JQ9Q;8OK:%.5'4C7#52*4E:.*I444444444++ <&%OKGGQ4IK:%R8H8%KO%:Q9O4%cc!%.5'4H72)$4@$#;$%4B$'97&($(744

&&&&'E

&&&&ff

'%&,# 28%;KGI4O49X8%:K%8WHK%R8:4%KI%O8%KJLG8GQ\I& ?(-'*17%-$4$4C$-$27*4K#,*U-9$(&& &

" ' *%) + 1 ' - . " - % * ( " # . + 2 % 3 "

"QOKIGQ8%O8%YQ4OKIGQ8%=8SR838%98I8J4H8%KI%KJQGQ\I JK%G4IGLH:4%28%=4OSKI8%.5'4H$>'7*2$4F'-;I4B,$#:(&&&

-O%HK;4%JK%G8R8GQ;8H&.5'4H$>'7*2$4N+O+*4F''$2$&& &

444444+E


4+4&+1$")% !!!%=4IUKHKIGQ8%,K9Q4I8O%JK%-JLG8GQ\I%"LRKHQ4H R8H8%0SZHQG8%28;QI8%T%KO%=8HQWK%<)&E&.5'4H72)$4@$#;$%4B$'97&($(7&&&&&&&&^< kQ:R834O[%O8:%GL8;H4%`Ra&.5'4K$(-7$&54@+%8*2)-&& & 28%4W:KHY8GQ\I%R8H8%HK8RHKIJKH[%HKGLH:4%RKJ89\9QG4 KI%8LO8:%LIQYKH:Q;8HQ8:%.5'4K$()'$4H+*''*'54@$'-;(*I&&

& &

&&&%^6 &&&&^+

28%8J4RGQ\I%JK%K:;H8;K9Q8:%+$,(!*)-",".(/%G4S4%RHKJQG8J4HK: JK%Z_Q;4%KI;HK%O4:%K:;LJQ8I;K:%JK%QI9OZ:%JK%IK94GQ4: KI%OXIK8%KI%-GL8J4H%.5'4B,'7%-5.,*'4L22*(4=4@$';$4)*24B$'9*(4Q525X$44444444444^E 0RLI;K:%:4WHK%KO%8G4:4%KI%O8:%QI:;Q;LGQ4IK:%KJLG8;QY8:% .5'4M+$(4)*4L2-,$+%444 4 4 4 4

444444E&

"'$5.+1 @Q:GQROQI8%T%G4PK:Q\I%R8H;QJ8HQ8$%KY4OLGQ\I%JKO%G4SR4H;8SQKI;4 OK9Q:O8;QY4%KGL8;4HQ8I4%JK%0OQ8IV8%M8X:[%<))(*<)&E& ?%-+)7$(-*%4)*4BB33&& &&&&& & & & MH4TKG;4:%JK%8ROQG8GQ\I%dLK%G4I;HQWLTKI%G4I%KO%9H8I%G8SWQ4& .5'4Y$=27(4Q'7-5&& & & & & &

&&&&E6 &&&&E+

nH4I;KH8%#4H;K$%O8%;QKHH8%JK:G4I4GQJ8%%

%

%

%&)f

"K%HK8OQV8%RHQSKH%;8OOKH%:4WHK%O8%YQ4OKIGQ8%JK%9ZIKH4%KI%RHKI:8& .5'4N$(7*22$4H$2$'I$4[*+.*2&& & & & &

&&&)^

=4I;8SQI8GQ\I%8SWQKI;8O$%;e[%iGL]I;8%RH4Y4G8:;Kj& .5'4T$2*'7$4\X7&+*I4L&+72$'&& & & &

&

&&&)(

!IQGQ4%JKO%Ue;W4O%UKSKIQI4%8%IQYKO%SLIJQ8O%T%KI%-GL8J4H& .5'4M+27$4J*(*9.$&+$=4=4E7&7$4@5'*7'$4 4 4

4

4444&&&

&

&&&&6

"&-%&$+&&1-!.#/012#'&'%&3',)4)+2$#/)54&6&")%4/)#+&(*172)/#+-bKHGQGQ4%JK%JQYKH:QJ8J&&

&

&

&&&

MKHGKRGQ\I%GQLJ8J8I8%:4WHK%KO%8SWQKI;K% JK%O4:%#K94GQ4:%!I;KHI8GQ4I8OK:%.5'4E5+7%4N+*X$%64N59G(7#$4]<X*I64 C7#52<%4J'5(#5%564B$'52$=(4T*'$64C7#52*4@$''75--64=4A$8$*24B,<1*I&&

&&&&f

28:%J4:%G8H8:%JKO%G8:4%0::8I9K&.5'4H7$(($4L.527($'7564 K*>$%-7<(4P'$(#564M5'&*4T$2)*I4=4L($43$+2$4L'&+*225&&&

&&&&^

&

-:;LJQ8I;K:%HK8OQV8I%RH4TKG;4%G4SLIQ;8HQ4%R8H8%G8:8%JK%8G49QJ8% .5'4?1*2=(4@5(#$)$64L2*^$4T722$54=4T71;$(4B$'-$&*($&&& &

&&&&(

M0M%`BmKTQ;8:a%RLWOQG\%RH4TKG;4%JK%OQWH4%R8H8%SKb4H8H% O8%G4IYQYKIGQ8%HK:R4I:8WOK%G4I%8IQS8OK:%JK%G4SR83X8 .5'4?972754M5%G4Z(%+$&& & & & &

&&&&E^

`oO%I4%K:%RKHUKG;4%RKH4pa&.5'4N$=$($4Y$9>'$(5&& &

&

&&&<&

@K:RKH;8IJ4%O4:%:KI;QJ4:%G4I%`24:%:LK34:%JK%0IQa& .5'4M+$(4K*>$%-7<(4A59*'5&& & & &

&&

&&&&E(

@Q:K38IJ4%KO%G8SWQ4%8%;H8YZ:%JK%-JLG]IJ4I4:& .5'4M+2754Z(-'7$&54ZIO+7*')5&& & &

&

&

&&&<'

MH4TKG;4%G4IGQKI;QV8%:4WHK%HKOKY8IGQ8%JK%J4I8H% RO8dLK;8:%8%R8GQKI;K:%G4I%G]IGKH&& & &&&&&&

&

&&&&(&

-O%YQ8bK%QJK8O[%O8%R4OX;QG8%HK8O%.5'4Q'7$($4T722$54

4

4

4%&<f

14JKO4:%S8H9QI8OK:&.5'4N$2*%,V$4B$()*2&&&

&

&

&&&<^

28%SLbKH$%KI;HK%J4:%R8:Q4IK:%.5'4L2*U$()'54FU*)$&& &

&

%&<(

-:;KH4%YQY4[%:8OY8H%8O%"8O8J4%G4I%RKHQ4JQ:S4&.5'4C*2%5(4J+>$=&&&

&&&&('

24G8OQV8J4:$%`YQYQH%O8%GQLJ8J%G4S4%LI%O4G8Oa&&& & & &&&& -O%RHQSKH%G8:QI4%UO4;8I;K%KI%O8%SQOO8%&'%JKO%S8H%KGL8;4HQ8I4&

&&&&(f

MHQSKH8%;QKIJ8%JKHS4G4:SZ;QG8%KI%OXIK8&&

&&&&((

&

&

#LKY8:%K:;H8;K9Q8:%R8H8%KOKY8H%KO%%(,"-)*JK%0RHKIJ8S4:&& &&&&&&

&&&&(^

&&&)&

' % & % - . " - 6 " . + 1 ' -!"#$$%$#&'%&(%$)*')+,*@K%O8%G]HGKO%8O%MLOQ;VKH%.5'4B$'25%4H$2*#754K$9$(7*&5&&

&

&&&)6

"7$"(+1("' 0RHKIJ8S4:%K:;HKI8%GLH:4%:4WHK%8;KIGQ\I%;LHX:;QG8& .5'4@7'7$94B*72*9$4C7($>$()$&& & &

&&&&&&&&&&&&&&&&&&&'<

=8H;8%JK%JK:RKJQJ8%8%SQ:%G4SR8;HQ4;8:%T%8SQ94:%KGL8;4HQ8I4:& .5'4A5)'7&54[+9*4P7&+*'5$444444444 4 4 444444444444444444444444444&'6 DLV\I%JK%.KI;8I8OK:&&

&

&

&

&

&&&'+


"# ! " # " $ # % & '

74589:5;<

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

`#Q%O8%G4I;H8JQGGQ\I%K:%QIJQGQ4% JK%U8O:KJ8J[%IQ%O8%U8O;8%JK% G4I;H8JQGGQ\I%K:%QIJQGQ4%JK% YKHJ8Ja5%qDO8Q:K%M8:G8O `28%KJLG8GQ\I%I4%K:% RHKR8H8GQ\I%R8H8%O8%YQJ8r%O8% KJLG8GQ\I%K:%O8%YQJ8%SQ:S8a5% qN4PI%@KFKT

E>&21A#20>&>&?>&E1I&4O;C12$;%>2;>B&;0P?101O%>=>&1O&1?&'()\B&$;"O;A;J]& V<1&1?&9#O$1U#&=1&5=<J>J;]O&7<P12;#2&Z957[&0#=;A;J>2>&?>$&O#20>%;C>$& P>2>& 1?& 1$%>R?1J;0;1O%#& =1& O<1C>$& 0>??>$& J<22;J<?>21$& 1O& ?>$& ;O$%;%<J;#O1$&=1&1=<J>J;]O&$<P12;#2D&F>2>&?>&4O;C12$;=>=&9>$>&:2>O=1& Z49:[& ;0P?;J]& <O& =1$>AM#& ;O%121$>O%1& V<1B& %>?& J#0#& ?#& J#01O%>O& ?>& =;21J%#2>& =1& ?>& 8;21JJ;]O& !J>=i0;J>& I& ?#$& =1J>O#$& =1& 49:& 1O& ?>& $1JJ;]O&K$2$4)*4*%-$'6&0#C;?;b]&<O>&$12;1&=1&;O%122#">O%1$&=1O%2#&=1&$<& P12$P1J%;C>&P1=>"]";J>B&;OV<;1%<=1$&V<1&>22;R>2#O&>&J#OJ?<$;#O1$&=1& "2>O&R1O1A;J;#&P>2>&?#$&1$%<=;>O%1$D&E>$&O<1C>$&0>??>$&J#01Ob>2SO&>& ;0P?101O%>2$1&1O&1?&$1"<O=#&P12;#=#&=1&'()*D @;1O%2>$&%>O%#B&$1&d>&J#O%;O<>=#&J#O&?>&1O$1+>Ob>&1O&J>=>&0>%12;>B& 1$P>J;#& 1O& V<1& ?#$& =#J1O%1$& P#O1O& ?#& 01U#2& =1& $MB& I& %>0R;iO& ?#$& 1$%<=;>O%1$D& E#& =10<1$%2>O& ?>& H$2*';$4=425%4?%.$#75%4)*4L.'*()7I$U*"& 5O& ?>& N>J<?%>=& =1& 9#0<O;J>J;]O& $1& =1J;=;]& V<1& 1?& '()*& $1>& 1?& !+#& =1?&8;$1+#&:2SA;J#&1O&49:B&I&T*(-$($2*%4>=1?>O%>&>?"<O#$&%]P;J#$&>?& 21$P1J%#B& I>& V<1& P>2>& ?>& 1=;J;]O& .#D& )LB& 1O& 1?& N5%%7*'4)*4H+$=$O+7264 P<R?;J>210#$& 1?& J#OU<O%#& =1& >J%;C;=>=1$& #2">O;b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

0;1O%2>$&V<1&?>&=;C12$;=>=&1$&<O&%10>&%2>O$C12$>?D&9;122>&1$%1&1$P>J;#& ?>&21$1+>&=1?&?;R2#&=1&j<C>?&.#>d&a>2>2;B&_`42*##75(*%4.$'$4*24%7&254aaZ" ,;$;%>O=#&?>&Q7>275-*#$B&1?&?1J%#2&$1&1OJ#O%2>2S&1?&9#O"21$#&=1?&9657& '()\& k=1& ?>& 4.579lk& $#R21& ?>& 1=<J>J;]O& $<P12;#2& 1O& !0i2;J>& E>%;O>& I& $<& iOA>$;$& 1O& 1?& =;S?#"#& =1& $>R121$D& E#& J#0P?101O%>& <O& 0#$>;J#& =1& J#O%2;R<J;#O1$& 0<?%;%10S%;J>$& =1& "2>O& ;O%12i$D& 4O& P>$#& 0S$& I& 1O%2>0#$& >?& ?%-+)75B& ?<">2& =#O=1& $1& 1OJ<1O%2>& <O>& $1?1JJ;]O& =1& 21$/01O1$& =1& F2#I1J%#$& =1& !P?;J>J;]O& ZF!F[B& %1$;$& =1& %;%<?>J;]OB& F2#I1J%#$&=1&-OO#C>J;]O&ZF-.[&=1&F#$"2>=#$B&I&@#=1?#$&=1&.1"#J;#$& Z@.[&=1&F2#A1$;#O>?;b>O%1$&=1?&'()\B&$;10P21&J#O&<O>&P12$P1J%;C>&=1& 21$P#O$>R;?;=>=&$#J;>?&21>?D E>&K$2$4)*49*)75%&J<0P?1&O<1C>01O%1&J#O&=;A121O%1$&>2%MJ<?#$&=1&?#$& 1$%<=;>O%1$&=1&?>&J>2212>&=1&F12;#=;$0#&1O&49:D&c>0R;iO&1O&?24L2-7225B& =1&?>&N>J<?%>=&=1&!=0;O;$%2>J;]O&I&9;1OJ;>$&F#?M%;J>$B&?#$&1$%<=;>O%1$& O#$& #A21J1O& =#$& 9>$#$& =1& ;O%12i$& I& 1O$>I#$& 21?1C>O%1$& V<1& >O>?;b>O& %10>$&=1&1J#O#0M>&I&P#?M%;J>&>J%<>?D 5?& $<P?101O%#& =1?& N5%%7*'4 )*4 H+$=$O+726& 1O& 1$%>& #P#2%<O;=>=B& O#$& 1O%21">& <O>& $12;1& =1& P#?i0;J>$& 1O%21C;$%>$& 21>?;b>=>$& >& J#OA121OJ;$%>$& ;O%12O>J;#O>?1$&V<1&C;$;%>2#O&?>&49:B&J#O&#J>$;]O&=1?&--&9#O"21$#&-O%12O>J;#O>?& =1&9;1OJ;>$&7#J;>?1$&'()\B&1O&1?&V<1&$1&=;$J<%;]&O<1C#$&P?>O%1>0;1O%#$&$#R21& ?>&;0P#2%>OJ;>&=1&?>&;O%12J<?%<2>?;=>=&1O&E>%;O#>0i2;J>D 92110#$&V<1&1?&=;$1+#&"2SA;J#&=1&?>&21C;$%>&J#O%2;R<I1&>&V<1&$<&?1J%<2>& $1>&J?>2>B&>01O>&I&P?>J1O%12>D


""

!;37<*47*7<768:5654;4

=<9>;:59 M*8,(4&S&/=):*354&).Q.).3/.4&(&($/*7*"(".4&U."(8Y8*$(4&".&,(&#3*7.)4*"("I&#/*,*O("54&.3&.,&$53/.3*"5&".&H.3/(3(,.4I&T#.&453&/)(347.)4(,.4&(&/5"5& .,&$#))E$#,5&S&$53$)./(3&.,&($/5&."#$(/*75&".4".&3#.4/)(&:./5"5,58E(&".,&^(U).3".)&A($*.3"5_I&5)*.3/("(&U5)&,54&U)*3$*U*54&$534/)#$/*7*4/(4&.3& U."(858E(%&M.&/)(/(&".,&^(U).3"*O(?.&-(4("5&.3&U)5-,.:(4I&.3&U)5S.$/54&S&".&".4.:U.[54&(#/=3/*$54_&".$,()("54&.3&.,&'5".,5&>."(8Y8*$5&S& !"#$(/*75&".&,(&R3*7.)4*"("&B(4(&+)(3".&CRB+Dn%

!"-E#$%-')+%H)'(#Z*1$%<=;>O%1&V<1&J<2$>&<O>&J>2212>& =1&"2>=#&#&P#$"2>=#&01=;>O%1&?>&>P?;J>J;]O&=1& 01J>O;$0#$& =1& 21J#O#J;0;1O%#& =1& 1$%<=;#$B& P21C;$%#$& 1O& 1?& 21"?>01O%#& =1& ?>& 49:B& %#0>O=#& J#0#&1U1&P2;OJ;P>?&=1&$<&>P21O=;b>U1&$<&1_P12;1OJ;>& I&21J#22;=#&P2#A1$;#O>?D

,)$-$Z*>J%;C;=>=&P1=>"]";J>&;O%1"2>?&V<1B&1O&J>=>& O;C1?&I&J<2$#B&P120;%1&>&?#$&>?<0O#$&1OA21O%>2&<O& P2#R?10>&%MP;J#&=1&$<&S0R;%#&?>R#2>?&I&>P?;J>2&$<$& J#O#J;0;1O%#$B&=1$%21b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d<0>O>B&=1$=1&$<&P2#P;>& 1_P12;1OJ;>&I&>&%2>Ci$&=1&>J%;C;=>=1$&?/=;J>$D

!9#"(-* B)")'.)Z4 $;0<?>J;]O& P2#A1$;#O>?& =1& %21$& =M>$& J#O& J#0P#O1O%1$& ?/=;J#$& P>2>& %#=#$& ?#$& 1$%<=;>O%1$&=1&?>&49:&=1&$1"<O=#&I&%12J12&>+#B& J<I#& #RU1%;C#& J1O%2>?& 1$& 1_P#O12?#$& A21O%1& >& <O>& $;%<>J;]O& =1& %2>R>U#& I& P21$;]O& P2#P;>& =1& $<& 21>?;=>=&P2#A1$;#O>?D&71&%2>R>U>O&?>$&=;01O$;#O1$& ;O%1?1J%<>?1$B&10#J;#O>?1$B&J#2P#2>?1$&I&$<RU1%;C>$D& E#$& 21$<?%>=#$& $#O& 1_P<1$%#$& I& C>?#2>=#$& P#2& J#0;$;#O1$&=#J1O%1$D

W& 3L34 R3'5=*#-5%4 )*4 $.27#$#7:(4 .'58*%75($2S/4 P2#I1J%#$& =1& ;OO#C>J;]O& J<I#& =1$>22#??#& J#O%10P?>& ?>& C;OJ<?>J;]O& J#O& ?>& J#?1J%;C;=>=& I& 21$P#O$>R;?;=>=& $#J;>?& <O;C12$;%>2;>B& %2>O$=;$J;P?;O>2;1=>=& I& =1$>22#??#& =1?& 10P21O=;0;1O%#&1&;OO#C>J;]OD&E#$&P2#I1J%#$& J<0P?1O& J#O& A>$1$& =1& =;>"O]$%;J#B& =;$1+#B& 1U1J<J;]O&I&1C>?<>J;]OB&>&1_J1PJ;]O&=1&>V<1??#$& V<1&%;1O1O&J#0#&P2#=<J%#&A;O>?&<O&P2#%#%;P#D

V")6).-* &#* (%(9+)2%:'* &#* 0")&-Z& 1$& 1?& 21$<?%>=#& ;OC1$%;">%;C#B& >J>=i0;J#B& P2#A1$;#O>?& #& >2%M$%;J#B& 1O& 1?& J<>?& 1?& 1$%<=;>O%1& =10<1$%2>& 1?& 0>O1U#& ;O%1"2>?&=1&?#$&J#O#J;0;1O%#$&>=V<;2;=#$&>&?#&?>2"#& =1&$<&A#20>J;]O&P2#A1$;#O>?B&V<1&21>?;b>&>P#2%1$&>& ?>&$#J;1=>=&Im#&>?&J>0P#&>J>=i0;J#&#&P2#A1$;#O>?D& E#$&1$%<=;>O%1$&P#=2SO&1$J#"12&1O%21&?>$&$;"<;1O%1$& 0#=>?;=>=1$&=1&%2>R>U#&=1&%;%<?>J;]OY & W&3ZP4R3'5=*#-5%4)*47(1*%-7&$#7:(485'9$-71$S/& P2#P<1$%>$& 21>?;b>=>$& P#2& =#J1O%1$& =1& ?>& 49:&V<1&R<$J>O&A#2%>?1J12&?>$&J>P>J;=>=1$& =1&P2#=<JJ;]O&=1&J#O#J;0;1O%#&J;1O%MA;J#& 1&;O%1"2>2&1O&?>$&P2SJ%;J>$&=1&;OC1$%;">J;]O& >& =#J1O%1$& ;OC1$%;">=#21$& I& 1$%<=;>O%1$B& >& A;O& =1& J#O%2;R<;2& J#O& 1?& J#0P2#0;$#& P1=>"]";J#& =1& =1$>22#??>2& =1$%21b>$& ;OC1$%;">%;C>$&1O&?#$&1$%<=;>O%1$D

W&&?^$9*(4#59.2*^715/&1_>01O&=1&A;O&=1&J>2212>& V<1& 21>?;b>& 1?& 1$%<=;>O%1& I& 1$& =1& J>2SJ%12& J#0P?1_;C#B&=1$%;O>=#&>&1C;=1OJ;>2&I&C>?;=>2& ?#$&J#O#J;0;1O%#$B&d>R;?;=>=1$&I&=1$10P1+#$& >=V<;2;=#$&>&?#&?>2"#&=1&?>&A#20>J;]O&P2#A1$;#O>?D W&&K7%-*9$-7I$#7:(4)*4*^.*'7*(#7$%4>2%;J<?>=>&>& F-N& #& F!F& =1P1O=;1O=#& =1& ?>& O>%<2>?1b>& =1?&P2#I1J%#D W&&&@#=1?#$&=1&.1"#J;#$Y&0#=>?;=>=&=1& P2#I1J%#$&=1&?>&4O;=>=&=1&F2#A1$;#O>?;b>O%1$& V<1&R<$J>&V<1&$1&"1O121OB&=1O%2#&=1&?>&49:B& 0S$&10P21O=;0;1O%#$&V<1&$1>O&;OO#C>=#21$& I& $#$%1O;R?1$B& R>$>=#$& 1O& P2#R?10S%;J>$& $#J;>?1$&21>?1$D 2#.3/.]&d%%PYmm```DJ>$>"2>O=1D1=<D1JmJ>$>"2>O=1m


!:9A7>593;<5B;387>

!"#$

=:; 4?; 65@3


SALA DE ESTAR

78


$/)-%"./(!$(-)#$'!"<-8$

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

!"#"$%&'(%) *&%)'&**&%) +)&'#*,&'(%) *&)',!&-& =4S4%@QHKG;4H8%0G8JZSQG8%JK%O8%>IQYKH:QJ8J% =8:8%BH8IJK%s>=Bt[%MHQ:GQO8%18HGP]I%G4SKI;8% :4WHK% O4:% G8SWQ4:% T% 8bL:;K:% GLHHQGLO8HK:% JK% ;4J8%O8%>=B5%-OO8%K:%S89X:;KH%KI%-JLG8GQ\I% "LRKHQ4H%JK%O8%>=B%T%S89X:;KH%KI%M:QG48I]OQ:Q:% G4I%SKIGQ\I%KI%-JLG8GQ\I%JK%O8%>IQYKH:QJ8J% =8;\OQG8%JK%"8I;Q894%JK%BL8T8dLQO[%T%J4GKI;K% LIQYKH:Q;8HQ8%G4I%&'%834:%JK%K_RKHQKIGQ85

iCLZ%RQKI:8:[%KI%9KIKH8O[%:4WHK%O4:%G8SWQ4:%KI%O8:%S8OO8:% GLHHQGLO8HK:%T%KO%8bL:;K%R4:;KHQ4Hj 921#& V<1& 21$P#O=1O& >& <O>& "1O<;O>& P21#J<P>J;]O& =1?& 5$%>=#& P#2& 01U#2>2&?>&J>?;=>=&=1&?>&1=<J>J;]O&$<P12;#2B&><OV<1&$;10P21&J#;OJ;=1O& 1O&?>&=;21JJ;]O&V<1&%#0>OD& 5O&1?&'((\&d<R#&<O>&21A#20>&1O&?>&V<1&><01O%>2#O&?#$&J2i=;%#$&=1& ?>&0>??>&J<22;J<?>2&=1&)^(&>&''L&0S$&%;%<?>J;]OD&5O&1?&'()H&$1&=;#&#%2#& >U<$%1&21=<J;1O=#&1?&O/012#&=1&d#2>$&>J>=i0;J>$D&5O&9>$>&:2>O=1&$1& d;b#&<O&1$A<12b#&=1&21P1O$>2&?>$&J>2212>$&1P;$%10#?]";J>01O%1B&J<S?1$& $#O&?#$&O<1C#$&J>0P#$&?>R#2>?1$B&?#$&O<1C#$&P12A;?1$&=1&$>?;=>B&V<i&$1&

1$%S&;0P>2%;1O=#&1O&J>2212>$&$;0;?>21$&1O&#%2#$&P>M$1$D&E#$&10P?1>=#21$& J#O%2;R<I12#O&J#O&$<&1C>?<>J;]O&I&21$J>%>0#$&?>$&J#$>$&R<1O>$B&P12#& >0P?;>0#$&?>&0;2>=>D&5O%#OJ1$B&>$M&$1&1U1J<%>2#O&J>0R;#$&I&1$&O#%#2;#& 1O&?>$&0>??>$D&&a>I&<O&21A#2b>0;1O%#&1O&>?"<O>$&S21>$B&1U1$&I&J>0P#$& O<1C#$&V<1&$1&;OJ?<I12#O&1O&>?"<O>$&0>%12;>$D !d#2>&1O&1?&'()*B&1?&>U<$%1&C>&P>2>&#%2#&?>=#D&.#$&P120;%1O&2>O"#$B&P#2& 1U10P?#B&>O%1$&O#$&=1JM>O&L3&0>%12;>$&I&>d#2>&P<1=1$&%1O12&0MO;0#&3(& I&0S_;0#&Q(&0>%12;>$D&a>I&<O>&A?1_;R;?;b>J;]O&P>2>&V<1&?>&<O;C12$;=>=& =1J;=>& ?>& J>2">& J<22;J<?>2n& P<1=1& =<2>2& 1O%21& 3& I& L& >+#$B& >O%1$& $#?#& 12>&J<>%2#&I&01=;#&P>2>&?;J1OJ;>%<2>D&.#$#%2#$&?#&d10#$&>=1J<>=#&1& ;OJ?<;0#$&?>&>?%12O>%;C>&P>2>&V<1&?#$&1$%<=;>O%1$&P<1=>O&%2>R>U>2D

"*+4)9,5:;/7<=>?=<>7@/A/BC4:D,5:;/7E=>?=<>7@/0/F:+:.;/GH/#H/B*54,5)

!"#$!$%&!'"()

"$


i-:4%:K%J8%R4H%O8%H8RQJKV%JK%O4:%G8SWQ4:% KI%KO%G4I4GQSQKI;4j 7MB& I& %>0R;iO& P#2V<1& d>I& <O>& %1O=1OJ;>B& P#2& 1U10P?#B& =1& J#OA?<;2& 0S$& ?>& A#20>J;]O& =1& "2>=#& I& P#$"2>=#D& !d#2>& 1$& 0S$& J#0/O& 1?& >JJ1$#& >& 0>1$%2M>B& 1O& 1?& $1O%;=#& V<1& ?#$& R>Jd;??121$& I>& P;1O$>O& V<i& J>2212>& I& P#$"2>=#& =1$1>O& d>J12D& !O%1$B& ?>& #A12%>& I& 1?& P#2J1O%>U1& =1& P12$#O>$& J#O& 0>1$%2M>$& 12>& 01O#2B& I& 12>& 0S$& J>2#D& !d#2>B& ;OJ?<$#B& >?"<O>$&<O;C12$;=>=1$&#A21J1OB&P#2&1U10P?#B& P2#"2>0>$& =1& Ho'& Z%21$& >+#$& =1& "2>=#& I& =#$&=1&0>1$%2M>[B&#&3&o)D&!O%12;#201O%1B&1O& J;OJ#& >+#$& 21J;iO& %1OM>$& ?>& ?;J1OJ;>%<2>D& E>$& <O;C12$;=>=1$&P<1=1O&#&O#&>J#"12$1D

$ / ) - % " . / ( ! $ ( - ) # $ ' ! " < - 8 $ "% J#O& P<O%#$& J?>C1& J#0<O1$D& 71& ;O%121$>2#O& $#R21& %#=#& 1O& ?>$& J>2212>$& =1& 1=<J>J;]O& 1O& 5J<>=#2B& ?>$& J<>?1$& =1R12M>O& %1O12& J;OJ#& O#=#$&=1&>P21O=;b>U1&1O&J#0/OD & 9>$>& :2>O=1B& J#0#& 1?& 21$%#& =1& ?>$& <O;C12$;=>=1$B& %<C#& 0<Jd>& >0P?;%<=& P>2>& <R;J>2& J<S?1$& $#O& ?#$& O#=#$& J?>C1& =1& J>=>& J>2212>& 1& ;O%2#=<J;2& 1?101O%#$& =;A121OJ;>=#21$&=1&O<1$%2#&0#=1?#&1=<J>%;C#B& 21?>J;#O>=#$&J#O&$;0<?>J;#O1$&P2#A1$;#O>?1$& V<1& 1$%SO& ;O%1"2>=>$& 1O& ?#$& J<22MJ<?#$& =1& %#=>$&?>$&J>2212>$D&E#&d>J10#$&=1$=1&d>J1&'L& >+#$D&!d#2>&1?&I>&957&$1&21A;121O&>&1$%#&J#0#& P2#I1J%#& =1& ;O%1"2>J;]O& =1& $>R121$B& I& J>=>& <O;C12$;=>=& 1OJ#O%2>2S& ?>& A#20>& =1& J]0#& P#O12&1O&P2SJ%;J>&1$%1&J#OJ1P%#D

5O& "1O12>?B& 1O& 1?& >U<$%1& =1& 1$%1& >+#& >P2#C1Jd>0#$&P>2>&21C;$>2&%10>$&P<O%<>?1$& V<1&d>RM>0#$&1C>?<>=#D&a10#$&>=>P%>=#&?>& J#0P#$;J;]O&=1&?#$&1?101O%#$&=1&?>&0>??>&>& ?#$&O<1C#$&P>2S01%2#$B&P12#&1?&J#O%1O;=#&1$& 1?&0;$0#D

8<2>O%1& 1?& P2#J1$#& =1& 21=;$1+#B& V<1& ;O;J;]& 1O& 1?& '()3B& 1?& 957& #2">O;b]& %>??121$& =1& >J#0P>+>0;1O%#&I&>&?>&C1bB&$1&=1$>22#??>2#O& 21<O;#O1$&P#2&S21>$B&P>2>&J21>2&<O&J<22MJ<?#&

F#J#B&1O&21>?;=>=D&c2>%>0#$&=1&>R$#2R12?#& I&$1P>2>2?#&J#0#&<O&%10>&=1&"1$%;]O&I&O#& $#R21J>2">2&?>&A<OJ;]O&=1?&J<12P#&=#J1O%1B& P>2>& 1C;%>2& V<1& $1& >R2<01OD& 5O& $<& "2>O& 0>I#2M>B&$;"<1O&P1O$>O=#&1O&$<&J?>$1B&1O& ?>& 01U#2& A#20>& =1& =;$1+>2& 1_P12;1OJ;>$& P>2>&V<1&?#$&>?<0O#$&>P21O=>OB&1O&J]0#& =1$>A;>2?#$& I& 1O& >J%;C;=>=1$& V<1& "1O121O& >P21O=;b>U1$&$;"O;A;J>%;C#$D&81&1$%>&0>O12>& P<1=1O&J#OJ1O%2>2$1&1O&?#&V<1&21>?01O%1& 1$&;0P#2%>O%1D E<1"#& 1?& P2#J1$#& J#O??1C>& <O>& 1%>P>& =1& >=1J<>J;]O& I& >=>P%>J;]OB& ?#& J<>?& %#0>& %;10P#&1O%21&?#$&P2#A1$#21$B&?#$&1$%<=;>O%1$& I&1?&P12$#O>?&>=0;O;$%2>%;C#D&5?&J#2>b]O&1$&?#& V<1&$<J1=1&J<>O=#&1$%S$&A21O%1&>?&1$%<=;>O%1D i0O94%S]:%dLK%G4SKI;8Hj

-:;4:%G8SWQ4:%JK%QSRH4YQ:4[%iGHK8I% QIK:;8WQOQJ8Jj%ik8T%SLGP8%QIYKH:Q\I%JK% ;QKSR4[%R4H%R8H;K%JK%O8:%LIQYKH:QJ8JK:[% R8H8%QI;H4JLGQH%K:;8:%K_Q9KIGQ8:j

i=\S4%:K%G4SR8;QWQOQV8%O4%dLK%K:%RH4RQ4% JK%O8%>=B[%KI%;ZHSQI4:%RKJ89\9QG4:[%G4I% ;4J4:%K:;4:%G8SWQ4:%GLHHQGLO8HK:j

ik8I%8UKG;8J4%K:;4:%G8SWQ4:%KO%JK:K4% JK%KI:K38IV8%KI%O8%>=B[%G4I%:L:%RH4RQ8:% S4J8OQJ8JK:%RKJ89\9QG8:j

7MB& J>=>& <O#& =1& 1$%#$& J>0R;#$& =10>O=>& %;10P#B& 1$#& $M& ?#& $i& P#2& 1_P12;1OJ;>D& .#& $i& J<SO=#& C1O">& ?>& P2]_;0>& 21A#20>B& P12#& 21>?01O%1&I#&O#&1$P12>2M>&V<1&1?&0>2J#&?1">?& =1&?>&1=<J>J;]O&$<P12;#2&$1&0>O%1O">&1$%>R?1& P#2&3&#&L&>+#$B&d1&>P21O=;=#&>&O#&J2112&1$#D& F>2%1& =1?& %2>R>U#& 1$& "1$%;#O>2& ?>& 1=<J>J;]OB& $>R;1O=#& V<1& C>O& >& ??1">2& 21A#20>$& =1& ;0P2#C;$#B& ?>$& J<>?1$& ;0P>J%>2SO& O<1$%2#& %2>R>U#&I&=1R10#$&1$%>2&P21P>2>=#$D

81$P<i$&=1&d>J12&1?&>U<$%1B&J21#&V<1&%#0>0#$& =1J;$;#O1$&=1O%2#&=1&<O&O<1C#&0>2"1O&=1&>JJ;]OD& !<OV<1&?>&?1I&O#&=10>O=>R>&1_P?MJ;%>01O%1&1?& J>0R;#B&O#$&#R?;"]&>&21P1O$>2&1&d;J;0#$&O<1C>$& 0#=;A;J>J;#O1$B& V<1& >d#2>& J#O$;=12#& V<1& d>O& $;=#& A>C#2>R?1$& P>2>& ?>$& 0>??>$& J<22;J<?>21$B& ><OV<1&$>R10#$&V<1&$;10P21&d>R2S&21A#20>$&>& ?#$&21"?>01O%#$&V<1&%1O=210#$&V<1&;OJ#2P#2>2& 1O& 1?& A<%<2#D& j& O#& P#2V<1& P2#C1O">O& =1& <O>& =10>O=>& 1_%12O>& $12SO& J>0R;#$& O1">%;C#$D& 5OJ#O%2>0#$& O<1C>$& 21"?>$& =1?& U<1"#& I& d>O& $<2";=#&J#$>$&V<1&>&0M&01&1O%<$;>$0>OD&5$%#$& J>0R;#$&O#$&A#2b>2#O&>&d>J12&<O>&21C;$;]O&=1& J]0#& 1$%>0#$& #2">O;b>O=#& ?>& A#20>J;]O& I& $1& ;O%2#=<U12#O&1?101O%#$&V<1&A<OJ;#O>2SO&01U#2D

-I;HKYQ:;8%R4H%NL8I%JK%0O;P8L:

!"#$!$%&!'"()

()*+,*,-)./0/BI:/(%%%/':7E


()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

&'*%"!&(&!+"

"& / - , - ( ! $ ( $ / 2 - #

R A

M R

A S E

D

O T

O D

O L IR

U R ST

N O C

"*+4)32.+,/C:4/MN,*/5)/B-+O,N. -O%834%R8:8J4%:K%HK8OQV\% LI8%:KHQK%JK%G8SWQ4:%KI%O8:%S8OO8:% GLHHQGLO8HK:[%T%K:;K%834%P8T%S]:%8bL:;K:[% G4S4%KUKG;4%JK%O8:%HKU4HS8:%8%O8%OKT%LIQYKH:Q;8HQ85% i=\S4%P8%QSR8G;8J4%K:;4%KI%O8:%G8HHKH8:% JK%O8%U8GLO;8Jj E>&<O;C12$;=>=&=1J;=;]&%#0>2$1&0<I&1O&$12;#&?#$&J>0R;#$&1O&?>&O<1C>&E1I&=1&5=<J>J;]O& I&1?&61"?>01O%#&=1&6i";01O&!J>=i0;J#B&I&P#2&1$#&$1&%2>R>U]&=<2>O%1&%21$&>+#$D&5?&'()\& ;0P?;J]&?>&P<1$%>&1O&0>2Jd>&=1&?>$&O<1C>$&0>??>$D&61J<12=>&V<1&O#$#%2#$&$#0#$&=1&?>$& P#J>$&<O;C12$;=>=1$&V<1&A<12#O&>P2#R>=>$&J#0#&P2#I1J%#&;OO#C>=#2D&!d#2>B&J#O&1$%1& O<1C#&21"?>01O%#&d;J;0#$&>U<$%1$&>?&21=;$1+#D 5O& 1$%1& P2#J1$#& =1$>20>0#$& ?#& d1Jd#& I& 21J#O$%2<;0#$& %#=#D& N<1& <O& %2>R>U#& 0<I& J#0P?1%#B& 1O& 1?& J<>?& $1& ;OC#?<J2]& >=10S$& >& P2#A1$;#O>?1$& 1_%12O#$B& 1_>?<0O#$& 1& ;OC1$%;">J;#O1$& V<1& $1& d;J;12#O& 1O& 1?& J>0P#& =1& ?>& 1=<J>J;]O& $<P12;#2D& 71& >2%;J<?]& I& 1$%2<J%<2]&%#=>&?>&#A12%>&J<22;J<?>2&1O&A<OJ;]O&=1&J;12%#$&P;?>21$D

!"#$%&'()#$%#"'#*'&+",'$#$%#-).+(/&'&/0(# %(#1-23#4)$5/6)#-/7,%5('73#()7#%89"/&'#")7# &'.:/)7#&+55/&+"'5%7#;+%#7%#<'(#5%'"/='$)# %(# ")7# >",/.)7# ,5%7# '?)73# &+@"%7# 7)(# ")7# $%7'AB)7#;+%#%(A5%(,'#"'#1-2#A5%(,%#'#%7,)# Z DÓNP CFOFàDJBSÃO FTUPT BKVTUFT B MPT %7,+$/'(,%7C# -/7,%5('7# ,/%(%# +(# D<C# EC# %(# D+:"/&/$'$# F# 4%"'&/)(%7# D>:"/&'7# $%# "'# 1(/G%57/$'$# H+,0().'# $%# I'5&%")('3# %7# $)&%(,%# +(/G%57/,'5/)# $%7$%# JKKL# F# <'# TJEP KVSBEP FO MPT QSFNJPT &GàF Z &M 0KP EF M:%5)'.N5/&'C# O'# $/&,'$)# &)(A%5%(&/'7# %(# !&+'$)53# -</"%3# H56%(,/('3# !7,'$)7# 1(/$)7# F#4+7/'C

"*+4)9,5:;/>J=>?=<>7@/A/BC4:D,5:;/7>=>?=<>7@/0/F:+:.;/G,4K,/F)4*,*5,/G,4+K*)L

E R Y


/-,-(!$($/2-#

()*+,*,-)./0/BI:/(%%%/':7E

E>&A#20>J;]O&J;<=>=>O>B&?>&;O%12O>J;#O>?;b>J;]OB& 1?&0>O1U#&=1&?>&?1O"<>B&=1&?>&=;";%>?;b>J;]OB&=1& ?>$&d<0>O;=>=1$B&V<1&1O&?>$&0>??>$&>O%12;#21$& $1& A<12#O& >=;J;#O>O=#& >& ?>$& J>2212>$& =1$=1& V<1&O>J1&?>&49:D&!d#2>&?#&d;J;0#$&=1$=1&<O>& P12$P1J%;C>&;O%1"2>=>B&=1&>J<12=#&>&?>&?1I&I&>& ?#$&P2#P;#$&=1$>AM#$&V<1&%;1O1&?>&<O;C12$;=>=D i=L]OK:%:4I%K:4:%JK:8UX4:j 5?& %10>& =1?& 0<O=#& =;";%>?B& ?>& A#20>J;]O& 1O& 21$P#O$>R;?;=>=& $#J;>?& I& 1?& >OS?;$;$& =1?& 0<O=#&=;C12$#&=1&0>O12>&;O%1"2>=>D&!=10S$B& =1RM>0#$&d>J12&%2>O$C12$>?&>&?>&J#0<O;J>J;]O& I& >& %#=>$& $<$& A#20>$D& 5$%#& $1& =1O#0;O]& ?>$& pJ#0P1%1OJ;>$& $1??#q& =1& ?>& 49:D& !$M& 0;$0#B& ?>& ?1I& 1_;";]& V<1& ?#$& %M%<?#$& =1& ?>$& & J>2212>$& =1& <O>& 2>0>& 1$P1JMA;J>& =1RM>O& =1O#0;O>2$1& ;"<>?&1O&%#=>$&?>$&<O;C12$;=>=1$)B&I&1$#&P#OM>& 1O& ;"<>?=>=& =1& J#O=;J;#O1$& ?>$& P2#P<1$%>$& >J>=i0;J>$n& 12>& <O>& =1$C1O%>U>D& F>2>& =;A121OJ;>2O#$& $1& J21>2#O& ?#$& ;%;O12>2;#$& 1O& J>=>&J>2212>D i=\S4%JK:GHQWQHX8:%O4%dLK%:4I%O4:%Q;QIKH8HQ4:j 5$& J#0#& <O>& #2;1O%>J;]O& d>JM>& <O& S21>& 1O& P>2%;J<?>2D&71&P;=;]&V<1&J>=>&J>2212>&%1O">&%21$& #PJ;#O1$& =1& ;%;O12>2;#D& c#0>2?#& 1$& #R?;">%#2;#B& 1?;";1O=#& <O#& =1& ?#$& %21$& P>2>& J<0P?;2& J#O& ?>& J>O%;=>=&=1&J2i=;%#$&O1J1$>2;#$&P>2>&"2>=<>2%1D& 5O%#OJ1$B&P#2&1U10P?#B&1O&?>&J>2212>&=1&@$'V*-7(&& %1O10#$& ;%;O12>2;#& 1O& 9$'V*-7(&4 =;";%>?B& 21=1$& $#J;>?1$B&J#0P#2%>0;1O%#&=1?&J#O$<0;=#2D E>&<O;C12$;=>=&1C>?/>&%>0R;iO&?>$&J>2>J%12M$%;J>$& =1&?#$&>?<0O#$B&1?&012J>=#&?>R#2>?B&?>&O1J1$;=>=& =1&"1O12>2&%<2O#$&P>2>&?#$&V<1&%2>R>U>OD&9#O&1?& >U<$%1B&$#?#&>=>P%>0#$&?>&J>O%;=>=&=1&d#2>$&I& =<2>J;]O& =1& ?>& J>2212>& V<1& $1& 1_;"M>B& J>0R;#& V<1& P120;%;2S& V<1& ?#$& 1$%<=;>O%1$& >& %;10P#&

J#0P?1%#& P<1=>O& >J#2%>2& $<& J>2212>n& O#& J<2$>O&01O#$B&$;O#&V<1&?>&>P2;1%>OD&5O%#OJ1$B& =1$=1& $1P%;10R21& =1?& '()*& $1& P#=2S& d>J12& <O>& J>2212>& 1O& J<>%2#& >+#$B& J#O& <O& d#2>2;#& V<1&%1&P120;%>&%2>R>U>2&>&%;10P#&J#0P?1%#D

=1& d>J12& J#O1_;#O1$& P#J#& d>R;%<>?1$n& 1O%1O=12&V<1&01&C>&>&%#J>2&%2>R>U>2&J#O&"1O%1& 0<I&=;C12$>B&J#O&?>&J<>?&%1O"#&V<1&J#?>R#2>2D& c>0R;iOB& >P21O=12& >& >=>P%>2$1& >& 1$J1O>2;#$& V<1&J>0R;>O&=1&<O&=M>&P>2>&#%2#D

-:4%K:%LI8%;KIJKIGQ8%QI;KHI8GQ4I8Op

E>&#A12%>&=1&?>&49:&$1&>=>P%>&P12A1J%>01O%1& >&?>$&3&9D&E>&R>2212>&1$&?>&0;2>=>&;O01=;>%;$%>B& ?>& J<>?& O#& P120;%1& 1O%1O=12& 1?& J#O%1_%#& =1& ?#&V<1&1$%S$&d>J;1O=#D&r<Jg12R12"&#&:##"?1B& P#2& 1U10P?#B& J>0R;>2#O& 1?& >?"#2;%0#& I& ?#& V<1& >P21O=;$%1& I>& O#& %1& $;2C1D& 5O%#OJ1$B& $12& <O;C12$;%>2;#& O#& 1$& $12& <O& %1JO]J2>%>B& >& ?#& 01U#2&0>+>O>&?>&%iJO;J>&?>&d>2S&<O&2#R#%D

7MD& 71& V<;121& P2;C;?1";>2& 1?& 0#=1?#& 1<2#P1#B& V<1&%;1O=1&>&>J#2%>2&?>$&J>2212>$&I&?<1"#&P>$>$& =;21J%>01O%1& >?& P#$"2>=#D& 5$#& ;0P?;J>& #%2#& 21%#& P>2>& O#$#%2#$Y& P#$;R;?;%>2& ?>$& 0>1$%2M>$& %1JO#?]";J>$B& V<1& >d#2>& =<2>O& <O& >+#B& I>& O#& =#$D& a>$%>& 1?& '((*& $M& %1OM>0#$& J>2212>$& %iJO;J>$&=1&"2>O&>J#";=>B&P12#&?>&?1I&=1&1$>& iP#J>&$1&?#&V<;%]&>&?>$&<O;C12$;=>=1$D & i?%O8%U4HS8GQ\I%KI%PLS8IQJ8JK:% :K%S8I;QKIKj%k8T%LI8%;KIJKIGQ8% QI;KHI8GQ4I8O%8%KOQSQI8HO8:5 5O&O<1$%2>&0>??>&$1&0>O%;1O1&>R$#?<%>01O%1& ;"<>?D& 5O& 49:B& 1$& <O#& =1& ?#$& P;?>21$& =1?& =;$1+#&J<22;J<?>2D i-O%L:4%JK%O8%RKJ8949X8%G4I:;HLG;QYQ:;8% dLK%L;QOQV8%O8%>=B%S8HG8%LI8% JQUKHKIGQ8%QSR4H;8I;K%G4I%4;H8:%4UKH;8:% LIQYKH:Q;8HQ8:%KI%KO%R8X:j 921#&V<1&d>I&<O&=1$>AM#&1O&J#0<O;J>2&R;1O& I& 01U#2& O<1$%2>& P2#P<1$%>& >J>=i0;J>B& P>2>& V<1& ?#$& 1$%<=;>O%1$& ?>& 1O%;1O=>O& I& C>?#21O& 0S$D& E>$& <O;C12$;=>=1$& O#& =1R1O& >A>O>2$1& 1O& 1O$1+>2& >?& >?<0O#& J#$>$& V<1& 0>+>O>& 1$%>2SO&=1$>J%<>?;b>=>$B&#&V<1&?>$&1OJ<1O%2>& ASJ;?01O%1&1O&:##"?1D&j<C>?&.#>d&a>2>2;&=;J1& V<1&?>&1=<J>J;]O&=1?&A<%<2#&=1R1&%1O12&J#0#& P;?>2&A<O=>01O%>?&?>$&J<>%2#&9Y&RKI:8SQKI;4% GHX;QG4[% RHKR8H8GQ\I% R8H8% KO% G8SWQ4[% G4O8W4H8GQ\I% T% GHK8;QYQJ8J5& 5O& 1?& J2M%;J#B& >P21O=#&>&=;$%;O"<;2&?#&/%;?&=1&?#&;0P#2%>O%1B& =1&?#&<2"1O%1D&5O&1?&J21>%;C#B&1$&?>&J>P>J;=>=&

5$#& V<1& ??>0>O& p0>%12;>$& =1& 21??1O#q& O#& 1$& s21??1O#tB&1$&>R2;2%1&?>&01O%1&P>2>&V<1&P<1=>$& 1OA21O%>2%1& >?& 0<O=#& >J%<>?& I& A<%<2#D& E#& O#%>0#$& J<>O=#& O<1$%2#$& 1_>?<0O#$& =;J1O& V<1& ?1$& $;2C;]& 0<Jd#& V<1& ?1$& J>0R;>2>O& ?>$& 21"?>$&=1?&U<1"#B&V<1&?#$&P<$;12>O&>&%2>R>U>2& J#O&"1O%1&=1&#%2>$&J>2212>$B&V<1&?1$&J2;%;J>2>O& J<>%2#& #& J;OJ#& =#J1O%1$& 1O& <O& 9>$#n& =1$J<R21O& V<1& 1$#& 1$& ?#& V<1& 21>?01O%1& ?1$& V<1=>&I&?#&C>?#2>OD &)

F#2&1U10P?#B&p?;J1OJ;>=#&1O&@$'V*-7(&qD

&'*%"!&(&!+"

i0%dLZ%RQO8HK:%;K%HKUQKHK:j

"!


!(A',/='.)7 "'#5%79)(7':/"/$'$#7)&/'"# %.95%7'5/'"#/(,%5('&/)('" F#9)"B,/&'

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

M8H8%G4I4GKH%S]:%:4WHK%O4:%G8SWQ4:%T%RH4R\:Q;4:%JK%O8%n8GLO;8J% JK% 0JSQIQ:;H8GQ\I% T% =QKIGQ8:% M4OX;QG8:% JK% O8% >IQYKH:QJ8J% =8:8% BH8IJK% s>=Bt[% KI;HKYQ:;8S4:% 8% :L% JKG8I4[% 14JK:;4% =4HHK8[% dLQKI%K:%S89X:;KH%KI%0JSQIQ:;H8GQ\I%MeWOQG8%JK%O8%>IQYKH:QJ8J% JK%k8HY8HJ%T%9H8JL8J4%JKO%MH49H8S8%0O;8%@QHKGGQ\I%-SRHK:8HQ8O% JKO%!I:;Q;L;4%JK%@K:8HH4OO4%-SRHK:8HQ8O%s!@-t5

"*+4)32.+,/C:4/MN,*/5)/B-+O,N. iCLZ%:Q9IQUQG\%R8H8%O8%n8GLO;8J%JK%0JSQIQ:;H8GQ\I%T%=QKIGQ8:% M4OX;QG8:%S4JQUQG8H%O8:%S8OO8:%GLHHQGLO8HK:%JK%8GLKHJ4%8%O4:% ILKY4:%HK9O8SKI;4:%4UQGQ8OK:j% a>I&J;12%>&C>2;>J;]O&1O&?>&21=<JJ;]O&=1?&O/012#&=1&J2i=;%#$&V<1&%;1O1O& V<1&J<0P?;2&?#$&1$%<=;>O%1$B&I&%>0R;iO&1O&?>&=;$%2;R<J;]O&=1&?>$&d#2>$B& P>2>&V<1&d>I>&<O&0>I#2&1OA#V<1&1O&1?&J#O%1O;=#&=1&J>=>&0>%12;>D&71& d>&J#O$;=12>=#&?#$&O<1C#$&P2#J1$#$&=1&>P21O=;b>U1B&?>&;OO#C>J;]O&=1& %1JO#?#"M>&I&10P21O=;0;1O%#&kJ#0#&1$&O<1$%2#&J>$#kB&>=10S$&=1& F<12%#&.>2>OU>B&F<12%#&E;0]OB&?#$&9>$#$B&?>&%;%<?>J;]O&01=;>O%1&F!Fn& $1& d>& 21?;1C>=#& %>0R;iO& ?>& ;OC1$%;">J;]OD& 5O%#OJ1$B& 1$& <O& P2#J1$#& 1O&1?&V<1&;OJ;=;0#$&I&V<1&$1&d>&;=#&0#O;%#21>O=#&I&>U<$%>O=#B&P>2>& J<0P?;2& J#O& ?>$& =;21J%2;J1$& =1& ?>$& ><%#2;=>=1$& =1& 1=<J>J;]O& I& 1?& 21=;$1+#&=1&?>$&0>??>$D c>0R;iO&d>I&%10>$&=1&$1"<;0;1O%#&I&J<0P?;0;1O%#&=1&?>&=;$J;P?;O>B& ?>&>$;$%1OJ;>B&?>$&O#%>$B&I&J]0#&P#=2M>&1?&1$%<=;>O%1B&1O&<O&0#01O%#& =>=#B&21J<P12>2&I&J#221";2&<O>&J>?;A;J>J;]O&R>U>D ik8%QSROQG8J4%8O9eI%G8SWQ4%KI%O8%4HQKI;8GQ\I%JK%O8%U4HS8GQ\I% JK%O4:%K:;LJQ8I;K:j 7MB& 1O& ?#& V<1& 21$P1J%>& >& ?>$& P>$>O%M>$& I& ?>& ;O%12O>J;#O>?;b>J;]On& ?>& P#$;R;?;=>=& =1& %1O12& P2#"2>0>$& #& J#OC1O;#$& J#O& <O;C12$;=>=1$& =1?& 1_%12;#2D& -OJ?<$#B& $1& d>& J#01Ob>=#& >& P1O$>2& 1O& d>J12& P2#"2>0>$& J#OU<O%#$B&P>2>&V<1&1?&"2>=<>=#&#R%1O">&<O>&0>1$%2M>&>A<12>D& 5?&;O%12J>0R;#&1$%<=;>O%;?&I>&?#&%1OM>0#$B&P12#&$1&C>&A#20>?;b>O=#& 0S$D&71&1OA>%;b>&0S$&?>&C;OJ<?>J;]O&J#O&?>&J#0<O;=>=B&?>&;OO#C>J;]O&

"*+4)9,5:;/>J=>?=<>7@/A/BC4:D,5:;/7>=>?=<>7@/0/F:+:.;/GH/#H/B*54,5)

(,*-./.&!0"&!(# 1')2$!&(#

"' / - , - ( ! $ ( $ / 2 - #


()*+,*,-)./0/BI:/(%%%/':7E

I&?>&;OJ?<$;]OD&!V<M&d>I&V<1&d>J12&<O&%2>R>U#& J#OU<O%#&J#O&?>&=#J1OJ;>D i-I%dLZ%:KI;QJ4j%

5O& ?#$& >+#$& ^(& $1& d>R?>R>& =1& ?>& A<$;]O& J#O& 1?& :2<P#& !O=;O#D& j#& %2>R>Ui& 1O& 1?& %10>& =1& ;O%1"2>J;]O& 1O& 1$>& iP#J>B& I& 1$%1& P2#J1$#& $1& ?#& d>JM>& >& %2>Ci$& =1& P2#"2>0>$& I& P2#I1J%#$B& I>& $1>B& P#2& 1U10P?#B& =1& ;OA2>1$%2<J%<2>& AM$;J>B& ;O%1"2>J;]O& >& %2>Ci$& =1& J>221%12>$B& >12#P<12%#$B& J<1OJ>$& d;=2#"2SA;J>$B& =1& %#=#& %;P#D& a#IB& 1O& J>0R;#B& 1$& 01=;>O%1& "2>O=1$& P2#I1J%#$& =1& ;OC12$;#O1$B& >J<12=#$& =1& ;0P#2%>J;]OW1_P#2%>J;]OD !?"<O>$&A>0;?;>$&=1&10P21$>2;#$&1J<>%#2;>O#$B& >O%1& ?>& $;%<>J;]O& =1& =1$J#OJ;12%#& I& A>?%>& =1& J#OA;>Ob>&P2#=<J;=>&P#2&1?&"#R;12O#&>O%12;#2B& C1O=;12#O&$<$&O1"#J;#$&1&;OC;2%;12#O&1O&#%2#$& P>M$1$B& =#O=1& ?>$& 10P21$>$& ;O%12O>J;#O>?1$& =;C12$;A;J>O& $<$& P2#=<J%#$D& 5O& #%2#$& P>M$1$& P<1=1$& %2>0;%>2& 2SP;=>01O%1& %<& O<1C#& O1"#J;#& P#2& ;O%12O1%B& A>J;?;%>O& ?>& 0#C;?;=>=& =1&?>$&;OC12$;#O1$B&P2#=<J%#$&I&$12C;J;#$&1O%21& ?>$&A2#O%12>$D&5$%>0#$&<O&P#J#&>%2>$>=#$&1O& 5J<>=#2B& ?#& J<>?& 1$& <O& %10>& >& %2>R>U>2& J#O& O<1$%2#$&1$%<=;>O%1$&1O&49:D 71& C>& >& 21>?;b>2& <O>& 21<O;]O& =1& =1J>O#$& >& A;O>?1$& =1& 0>I#& '()*B& 1O& @;>0;B& 1O& 1?& 9#O$1U#& E>%;O#>012;J>O#& =1& 5$J<1?>$& =1&

!=0;O;$%2>J;]O& Z9E!85![B& J<I>& $1=1& 1$%S& 1O&E;0>&I&=#O=1&P>2%;J;P>O&'Q(&1$J<1?>$&=1& O1"#J;#$D& .#$& >J>R>0#$& =1& ;O$J2;R;2& J#0#& 0;10R2#$& =1& ?>& >J21=;%>=#2>& P>2>& 1$J<1?>$& #& A>J<?%>=1$& =1& O1"#J;#$B& P>2>& #R%1O12& J12%;A;J>J;]O&;O%12O>J;#O>?D&.<1$%2#$&=#J1O%1$& V<1&d>J1O&;OC1$%;">J;]O&;2SO&>&9E!85!&P>2>& P21$1O%>2&$<$&%1$;$&=#J%#2>?1$D&F#2&#%2#&?>=#B& 1O&#J%<R21&=1&'()*&$12S&?>&21<O;]O&=1&%#=>$& ?>$&1$J<1?>$&=1&9E!85!B&1O&E;0>n&1O&1?&'()\& A<1&1O&9#$%>&6;J>B&d>J1&=#$&>+#$&1O&9>?;A#2O;>& I&?>&>O%12;#2B&1O&@1=1??MOD& c1O10#$&J#OC1O;#&J#O&?>&4O;C12$;=>=&=1&E#$& a10;$A12;#$B& =#O=1& A<OJ;#O>& 1?& -O$%;%<%#& =1& 81$>22#??#&50P21$>2;>?&Z-85[B&P>2>&#A21J12&<O>& 0>1$%2M>&1O&?>&J#$%>D&c21$&=#J1O%1$&O<1$%2#$& 1$%SO&J<2$>O=#&$<&P#$"2>=#&>??MD&

c>0R;iO&$1&1$%S&>C>Ob>O=#&1O&<O&J#OC1O;#& J#O& ?>& 4O;C12$;=>=& =1& 81$>22#??#& =1& 9d;?1B& P>2>& <O>& 0>1$%2M>& $#R21& "#R12O>Ob>& 1O& 9;1OJ;>$&F#?M%;J>$B&V<1&1$&>?"#&V<1&$1&d>J1&1O& %#=#$&?>=#$D& 5O&?<">2&=1&J2;%;J>2&>&?>&l5!B&d>I&V<1&P1O$>2& 1O& J]0#& $1& ?>& P<1=1& 0#=12O;b>2D& .#& P<1=1& $12&V<1&@>=<2#&21">?1&P1%2]?1#&>&?>$&;$?>$&=1?& 9>2;R1&I&21J;iO&?>&l5!&>J>R>&=1&21J#O#J12&>& :<>;=]D& @;2>& 1?& 4.!746B& uV<i& =1$P12=;J;#f& 5O%#OJ1$B& 1O& ?>& J>2212>& =1& 9;1OJ;>$& F#?M%;J>$& %1O10#$&0<Jd>$&J#$>$&V<1&d>J12D

"(

i24%RHQIGQR8O%K:%O8%U4HS8GQ\I%JK%O4:% K:;LJQ8I;K:%KI%K:;K%G4I;K_;4%QI;KHI8GQ4I8O% T%O4:%YXIGLO4:%8%K:;8WOKGKH:Kj% j#& d>R?i& J#O& e#2"1& c>?>C12>B& 21J%#2& =1& ?>& 5$J<1?>&=1&!=0;O;$%2>J;]O&=1&.1"#J;#$&P>2>& :2>=<>=#$& Z57!.B& 1O& E;0>[B& P>2>& #2">O;b>2& J<2$#$&I&$10;O>2;#$D&E#$&Jd;?1O#$&I&P12<>O#$& 1$%SO&>C>Ob>=#$&<O#$&$1;$&>+#$&J#O&1?&%10>& =1?& !J<12=#& =1?& F>JMA;J#& 7<2D& @1& 1OJ>O%>2M>& V<1& C>I>O& >?"<O#$& 1$%<=;>O%1$& "2>=<>=#$& =1& 49:& >& d>J12& $<& 0>1$%2M>& 1O& 57!.D& :E-!& d>&21>?;b>=#&<O&J#OC1O;#&J#O&57!.&P>2>&=>2& J<2$#$&1U1J<%;C#$B&P12#&?#&O<1$%2#&$12M>&0S$&>& O;C1?&=1&?>&<O;C12$;=>=D& 5O& F12/& 01& =;J1OY& p@#=1$%#B& >V<M& ?#$& 21J;R;0#$&I&O#$&P#O10#$&1O&J#O%>J%#&J#O&?>$& 9S0>2>$B&P#2V<1&>V<M&?>&;OC12$;]O&1_%2>OU12>& 1$&R;1OC1O;=>qD&5O&F12/&I&9d;?1&1$&=#O=1&0S$& ;OC12$;]O&1_%2>OU12>&;O"21$>D j#& $#I& =1& ?>& ;=1>& V<1& O<1$%2>$& 10P21$>$& J21bJ>O& 1O& 5J<>=#2B& P12#& %>0R;iO& d>I& V<1& d>J12& ;OC12$;#O1$& 1O& F12/D& !J%<>?01O%1B& d>I& <O>$& H(& J#0P>+M>$& 1J<>%#2;>O>$& V<1& d>O& ;OC12%;=#& 1O& F12/D& 5O%#OJ1$B& O<1$%2#$& 1$%<=;>O%1$& P<1=1O& 1$%<=;>2& 1O& 57!.& I& %2>R>U>2& 1O& 10P21$>$& 1J<>%#2;>O>$& 1O& F12/B& I& %#=#& 1$#& %2>1& <O>& "2>O& C;OJ<?>J;]O& I& J#O#J;0;1O%#& P>2>& 1?& P21$1O%1& I& A<%<2#& 1O& 1$%1&J>0P#D

(,*-./.&!0"&!(# 1')2$!&(#

5O& V<1& ?>& =#J1OJ;>& %;1O1& V<1& ;2& 0>2J>O=#& $<& A#20>& =1& =;J%>2& J?>$1$B& =1& V<1& $1>O& 0S$& P>2%;J;P>%;C>$B& ;OJ?<I1O=#& ?>$& 21$P#O$>R;?;=>=1$&$#J;>?1$&J#O&?>&J#0<O;=>=n& 1O& O<1$%2#& J>$#B& ?>& 21$P#O$>R;?;=>=& J#2P#2>%;C>& I& 10P21$>2;>?B& 1?& J#012J;#& I& ?#$& O1"#J;#$& ;O%12O>J;#O>?1$D& E>& J>2212>& =1& .1"#J;#$&-O%12O>J;#O>?1$&$1&1OA#J>&1O&?#&V<1& 1$&?>&"?#R>?;b>J;]OB&?#$&J#OC1O;#$&21";#O>?1$B& R;?>%12>?1$B&0<?%;$1J%#2;>?1$&I&0<?%;P>M$1$D&

/-,-(!$($/2-#


)# / - , - ( ! $ ( $ / 2 - #

“!"#$% &!'!(

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

!IQGQ8%:L%;H8TKG;4HQ8%KI%&((f[%8O%9H8JL8H:K%G4S4%2QGKIGQ8J8% KI%2K;H8:%G4I%K:RKGQ8OQJ8J%KI%-JLG8GQ\I%KI%>H:QIL:%=4OOK9K% s-:;8J4:% >IQJ4:t5% AW;LY4% LI% S]:;KH% KI% !I9OZ:% G4S4% "K9LIJ4% !JQ4S8% KI% KO% <))f[% T% 8JKS]:% PQV4% :L% :K9LIJ4% S]:;KH%KI%-JLG8GQ\I%>HW8I8$%0JSQIQ:;H8GQ\I%T%"LRKHYQ:Q\I% KI%KO%<))([%KI%O8%>IQYKH:QJ8J%JK%#KF%NKH:KT%=Q;T%s-:;8J4:% >IQJ4:t5%/QKIK%LI%MP5%@5%KI%-JLG8GQ\I*@Q:K34%!I:;HLGGQ4I8O% R8H8%KO%0RHKIJQV8bK%KI%2XIK85%-OO8%K:%#QG4O8%uQOO:*-:RQI4:8[% JKG8I8%T%J4GKI;K%JK%O8%n8GLO;8J%JK%-G4O49X8%kLS8I8[%dLQKI% I4:%J8H]%S]:%JK;8OOK:%:4WHK%KO%ULIGQ4I8SQKI;4%T%RH4R\:Q;4:% JK%K:;85

"*+4)32.+,/C:4/MN,*/5)/B-+O,N.

i=L]OK:%:4I%O4:%G8SWQ4:%HK8OQV8J4:%JK:JK%O8%n8GLO;8J%JK%-G4O49X8% kLS8I8[%KI%O4%dLK%HK:RKG;8%8%O8:%G8HHKH8:%T%O4:%4WbK;QY4:%dLK% :K%WL:G8Ij a>&d>R;=#&0<Jd#$&J>0R;#$B&P12#&<O#&=1&?#$&P2;OJ;P>?1$&1$&%2>%>2&=1& 21$P#O=12&>&?#$&21V<12;0;1O%#$&>J%<>?1$&=1&<O>&$#J;1=>=&J>0R;>O%1B& V<1&R<$J>&1=<J>=#21$&;OO#C>=#21$D&F#2&1??#B&<O#&=1&O<1$%2#$&$<1+#$& 1$&A#20>2&1=<J>=#21$&;O%1"2>?1$B&d#?M$%;J#$&I&V<1&21>?01O%1&??1"<1O&>& J<0P?;2&J#O&?#&V<1&O1J1$;%>0#$&=1O%2#&=1&?>$&><?>$&=1&J?>$1D&F12$#O>& F12$#O>$&O#&$#?>01O%1&21$P#O$>R?1$&J#O&?>$&1_;"1OJ;>$&=1&>P21O=;b>$;O#&

"*+4)9,5:;/7J=>J=<>7@/A/BC4:D,5:;/7P=>J=<>7@/0/F:+:.;/GH/#H/B*54,5)

*,-.*) "!( &)*!%+!

0&')'32(.4%*("( /.,0#(55'))'

%.*)/0 1.//"2!"3.%)"04


()*+,*,-)./0/BI:/(%%%/':7E

/-,-(!$($/2-#

ik8T% JQUQGLO;8JK:% KI% O8% -JLG8GQ\I% !IQGQ8O% KI%BL8T8dLQOj

F12$#O>$& O#& $#?>01O%1& 21$P#O$>R?1$& J#O& ?>$& 1_;"1OJ;>$& =1& >P21O=;b>U1$& $;O#& V<1& %>0R;iO& 21$P#O=>O& >& ?>$& O1J1$;=>=1$& $#J;>?1$B& 10#J;#O>?1$&I&P$;J#?]";J>$&=1?&>?<0O#D&

921#&V<1&J#O&?>$&0>%12;>$&;O%1"2>=#2>$B&J#0#& $#OY&9>$#$&I&E>R#2>%#2;#$D&9>$#$&1$&>?&J#0;1Ob#& =1?&$101$%21&I&=>&?#$&;O$<0#$&=1?&J#O%1O;=#& V<1& C>O& >& %2>R>U>2& ?#$& =#J1O%1$B& P120;%1& >?& 0>1$%2#& %1O12& <O& =;>"O]$%;J#& =1& =]O=1& 1$%SO& ?#$& 1$%<=;>O%1$& 1O& $<$& >P21O=;b>U1$D& E>R#2>%#2;#& 1$& =<2>O%1& %#=#& 1?& $101$%21& I& $1&%2>R>U>&<O>&P2#R?10S%;J>&V<1&%;1O1&J#0#& 21$<?%>=#& <O& P2#=<J%#& C;>R?1B& >J#0P>+>=#& =1&<O&P2#J1$#&=1&21A?1_;]OW>JJ;]OD&c2>%>0#$& =1& V<1& 1$%>$& >J%;C;=>=1$& $1>O& 21>?1$& I& 1O& =;C12$#$&J#O%1_%#$&$#J;#J<?%<2>?1$D F#2& 1U10P?#B& O<1$%2#$& 1$%<=;>O%1$& =1& 9>$#& )& %<C;12#O&V<1&21>?;b>2&=#J<01O%>?1$B&21J#";1O=#&

%1$%;0#O;#$& =1& P12$#O>$& V<1& d>O& $;=#& ;0P#2%>O%1$&1O&?>&5=<J>J;]O&-O;J;>?&I&5$P1J;>?& 1O& :<>I>V<;?B& 1O& ?#$& /?%;0#$& L(& >+#$D& 5$%#& 21P21$1O%]&<O&=1$>AM#B&P#2V<1&>P1O>$&%1OM>O& %21$& $10>O>$& =1O%2#& =1& ?>& <O;C12$;=>=B& =#O=1& O#& J#O#JM>O& >& 0<Jd>$& P12$#O>$& >/O& 1& ;"O#2>R>O& ?#& V<1& 21P21$1O%>R>& d>J12& <O& =#J<01O%>?D& c1OM>O& >=10S$& V<1& J#O1J%>2& $<$& J#O#J;0;1O%#$& J#O& #%2>$& 0>%12;>$B& P#2& 1U10P?#Y&7#J;#?#"M>&1&a;$%#2;>&=1&?>&1=<J>J;]OD 81$=1&?>&A>J<?%>=B&O#&$#0#$&1_P12%#$&1O&J21>2& =#J<01O%>?1$B& P12#& T12O>2=#& a1O2;V<1$& I& !O=2i$& 7#$>B& =#J1O%1$& =1& ?>& N>J<?%>=& =1& 9#0<O;J>J;]OB& O#$& >I<=>2#O& 1O& 1?& >$1$#2>0;1O%#& J#O& ?#$& "2<P#$& =1& 9>$#$D& 9#O#J10#$& ?>& ;0P#2%>OJ;>& =1?& %2>R>U#& I& ?>& J#O1_;]O&J#O&#%2>$&A>J<?%>=1$B&I&A#01O%>0#$& 1O& ?#$& >?<0O#$& ?>& 0;$0>& ;O;J;>%;C>D& 5$& ;0P#2%>O%1& >P#I>2$1& 1O& #%2#$& P2#A1$;#O>?1$& V<1&O#$&R2;O=1O&#%2>&C;$;]O&I&P12$P1J%;C>&=1& ?>& 21>?;=>=D& 5?& #RU1%;C#& A;O>?& 1$& P21$1O%>2& ?#$& =#J<01O%>?1$&1O&1?&1$P>J;#&=1&!<?>&9d;J>B&V<1& =;$P#O10#$&1O&?>$&;O$%>?>J;#O1$&=1&:<>I>2%1B& 1&;OC;%>2&>&%#=>&?>&J#0<O;=>=&#$%$&'$()7($"&

9>R1&01OJ;#O>2&V<1&?>&=#J1OJ;>&1$&C;$%>&J#0#& <O&%2>R>U#&$;O&A<%<2#D&7;O&10R>2"#B&1?&=1R12& =1?&0>1$%2#&;O;J;>?&%;1O1&0<Jd>&;OJ;=1OJ;>&1O& 1?& =1$>22#??#& 1J#O]0;J#& I& =1& ?>& J#0<O;=>=B& P#2V<1&?#$&O;+#$&J>P>J1$&$1&J#OC;12%1O&1O&?>& R>$1&=1&<O>&$#J;1=>=&P2]$P12>&I&$<$%1O%>R?1B& P#2&1O=1B&1$&<O&=1R12&JMC;J#&$12&=#J1O%1D i=L]I% QSR4H;8I;K% K:% dLK% O4:% J4GKI;K:% RKHGQW8I%dLQZIK:%KI%KO%8LO8%:4I%O4:%IQ34:% G4I%JQUQGLO;8JK:j & 5$#&1$&P>2%1&=1?&%2>R>U#&=1?&=#J1O%1D&81$=1&?>& A>J<?%>=B&1O&%#=#$&?#$&$101$%21$&d>I&0>%12;>$& 1O& ?>$& V<1& %2>R>U>0#$& 1$#B& J<1$%;#O>O=#Y& v9]0#& $#O& $<$& O;+#$wB& v9<S?1$& $#O& $<$& =;A;J<?%>=1$w& jB& vV<i& $#?<J;#O1$& P#=10#$& R2;O=>2& >& 1$%>$& $;%<>J;#O1$w& .<1$%2>& 0>??>& >J%<>?& =1& ?>$& J>2212>$& =1& 5=<J>J;]O& 21A?1U>& J#O%1O;=#$&V<1&>I<=>O&>&V<1&?#$&1$%<=;>O%1$& 0>O1U1O& ?>& =;C12$;=>=& =1O%2#& =1& ?#$& $>?#O1$& =1&J?>$1$D& .<1$%2#&#RU1%;C#&1$&=>2?1$&d122>0;1O%>$&P>2>& V<1&P<1=>O&21$P#O=12&>&?>$&O1J1$;=>=1$&=1&$<$& ><?>$B&=1&<O>&A#20>&J#O$%2<J%;C>&I&A>C#2>R?1& P>2>& J>=>& O;+#B& =1$=1& $<& ;O=;C;=<>?;=>=D& jB& d>J10#$&0>I#2&iOA>$;$&1O&V<1&$<&P2#P<1$%>& =1&%2>R>U#&$1>&=1$=1&<O>&0;2>=>&1J#?]";J>B&1O& ?>&V<1&$1&%#01&1O&J<1O%>&1?&=1$>22#??#&;O%1"2>?& =1&1??#$&I&$<&1O%#2O#&;O01=;>%#D&

0&')'32(.4%*("( /.,0#(55'))'

7MB& d>I& >?"<O>$B& 1$P1J;>?01O%1& J<>O=#& $1& P;12=1&1?&1OA#V<1&=1?&2#?&=1?&=#J1O%1D&vx<;iO& %;1O1&0S$&%;10P#&J#O&1?&O;+#wB&?#$&=#J1O%1$B& V<;1O1$&P>$>O&1O%21&Q&>&\&d#2>$&=;>2;>$&J#O& 1$%1D& E#$& C>?#21$& C;1O1O& =1$=1& J>$>B& P12#& d>I& J;12%>$& J#$>$& V<1& 1?& P2#A1$#2>=#& P<1=1& 21A#2b>2& =1O%2#& =1?& ><?>B& P#2& 1U10P?#B& ?>& d#O1$%;=>=B&?>&"1O12#$;=>=B&?>&J#0P>$;]OB&1?& $12C;J;#B&1O%21&#%2#$D

i@K%dLZ%S8IKH8%O4:%K:;LJQ8I;K:%R4IKI%KI% RH]G;QG8%KO%G4I4GQSQKI;4%KI%O8%YQJ8%HK8Oj 5$& ;0P#2%>O%1& V<1& ?#$& >?<0O#$& >P?;V<1O& ?>& %1#2M>& I& ?>& P#O">O& 1O& P2SJ%;J>B& ?#& J<>?& d>J1O& =1O%2#&=1&$<$&P2SJ%;J>$&P21P2#A1$;#O>?1$n&1O&?>& J>2212>& =1& 5=<J>J;]O& $#O& )\((& d#2>$D& 5$%#& 1$& <O&21%#&P>2>&O#$#%2#$B&P#2V<1&=1R10#$&$;10P21& 21$#?C12Y&v9]0#&?#$&1$%<=;>O%1$&P<1=1O&J<0P?;2& J#O&1$1&%#%>?&=1&d#2>$w&v9]0#&P<1=1O&$>J>2?1& 1?&0>I#2&P2#C1Jd#w&v9]0#&P<1=1O&#R%1O12& ?#$& 01U#21$& >P21O=;b>U1$w& v9]0#& J<0P?1O& $<$& P2SJ%;J>$& 0;1O%2>$& 1$%SO& %2>R>U>O=#B& R>?>OJ1>O=#& ?>$& #R?;">J;#O1$& ?>R#2>?1$& I& >J>=i0;J>$w&5O%#OJ1$B&21$<?%>&<O&P#J#&J#0P?1U#B& P12#& ?#& ?#"2>0#$& J#O& <O>& J##2=;O>J;]O& 1O%21& P2#A1$#2B&>?<0O#&I&?>$&1$J<1?>$D & iCLZ% 4;H8:% 8G;QYQJ8JK:% 8TLJ8I% 8% O4:% 8OLSI4:%8%4W;KIKH%S]:%RH]G;QG8%T%8%98I8H% K_RKHQKIGQ8%KI%KO%KbKHGQGQ4%JK%O8%KJLG8GQ\I% QIQGQ8O%T%K:RKGQ8Oj

)"



GALERÍA

<8


()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

(6'.,0).,!#06'.3578!&'

#:R:/C,4+)/5)/-,/S:*3:S,+:42,/5)/C,4+2S2C,S2T*/)*/)-/UV/ "*SN)*+4:/W%QX/5)/)*.)I,*L,/Y/52.)I:Z/5242925,/,/+:5:./ -:./ S)*+4:./ )5NS,+23:./ 5)/ %D)4:,R[42S,/ Y/ "N4:C,Z/ .)/ O,/52\N*525:/+,RD2[*/N*/R,4S:/S:*S)C+N,-/]N)/2*32+,/,/ WRGRV ORV LQYROXFUDGRV FRQ HO FDPSR GHO GLVHxR JUi½FR D UH¾H[LRQDU VREUH OD %DXKDXV \ VX YLJHQFLD FRPR R:5)-:/ \:4R,+23:Z/ ,C4:3)SO,*5:/ ]N)/ )*/ )-/ <>7@/ ).+,/ HVFXHOD FXPSOH DxRV 3UHVHQWDPRV XQ H[WUDFWR ½HO 5)/).+,/2*32+,S2T*H

BID!"#$!%&'()"*+(%"') 2019:

*#,*#-*!.*!&# /%&/%#,)#*$*/0+($)

E>&T;1O>?&-R12#>012;J>O>&=1&8;$1+#&P?>O%1>&KO%Ev%-IGLKI;H4%D!@%JK% -I:K38IV8%T%@Q:K34$%&))%834:%JK%O8%D8LP8L:[&J#O&1?&P2#P]$;%#&=1& $1"<;2&>P#I>O=#&I&=;A<O=;1O=#&R<1O>$&P2SJ%;J>$&V<1&0<1$%21O&J]0#& >2%;J<?>2&=1&A#20>&J?>2>&?>&1O12"M>&J21>%;C>&=1?&=;$1+#&I&$<&J>?;A;J>=>& >P?;J>J;]O&P>2>&J21>2&<O>&$#J;1=>=&01U#2D& 5?&1OJ<1O%2#&P21%1O=1&P2#P#2J;#O>2&<O&A#2#&>&>J>=i0;J#$&I&1$%<=;>O%1$B& P>2>& J#0P>2%;2& I& =;$J<%;2& ;=1>$n& 0#$%2>2& P2#I1J%#$B& 1_P12;1OJ;>$& I&

21$<?%>=#$&=#J1O%1$&I&=1&%2>R>U#$&=1&1$%<=;>O%1$n&I&P>2>&>R#2=>2&?#$& =1$>AM#$&21?>J;#O>=#$&J#O&?>$&;OO#C>J;#O1$&I&01%#=#?#"M>$&>P?;J>=>$&>& ?>&1=<J>J;]O&1&;OC1$%;">J;]O&=#J1O%1&1O&1?&S21>&=1?&=;$1+#D 5O& 1$%1& >+#& $1& J<0P?1& 1?& J1O%1O>2;#& =1& ?>& T><d><$B& ?>& 1$J<1?>& =1& >2%1& I& =;$1+#& 0S$& ;OA?<I1O%1& =1?& 7XXB& V<1& $;"O;A;J]& <O& J>0R;#& d>J;>&?>&0#=12O;=>=&I&V<1&>/O&d#I&1O&=M>&1$%S&P21$1O%1&1O&O<1$%2#& 1O%#2O#&>2%;A;J;>?&I&0>%12;>?D&F#2&1??#B&21A?1_;#O>2&$#R21&$<$&P2;OJ;P;#$& A<O=>J;#O>?1$B& 1$%2>%1";>$& P1=>"]";J>$& 1& ;=1>?1$& 0<?%;=;$J;P?;O>21$B& P120;%;2S& $#R21P>$>2& ?#$& P2;OJ;P;#$& =1& ?>& 0#=12O;=>=B& J#0P>2%;=#$& >J%<>?01O%1& P#2& 0/?%;P?1$& =;$1+>=#21$& I& 1$J<1?>$& =1& =;$1+#& 1O& $<$& P2#"2>0>$&>J>=i0;J#$D& F2#P#O10#$& >$M& <O& >J12J>0;1O%#& P>2>& J#O%2>$%>2& I& C12;A;J>2& $;& ?#$& C>?#21$& 1O& V<1& $1& ;O$P;2]& ?>& T><d><$& P>2>& =1$>22#??>2& 1& ;O%1"2>2& <O& 0<O=#& 0<?%;J<?%<2>?B& >& %2>Ci$& =1& <O& 0#=1?#& P1=>"]";J#B& 1$%SO& >J%<>?01O%1&1O&$;O%#OM>&J#O&1?&C>?#2&=1?&01=;#&>0R;1O%1B&?>&J>?;=>=& $#R21&?>&J>O%;=>=B&?>&;0P#2%>OJ;>&=1?&=;$1+#&$#R21&P2#J1$#$&$#J;>?1$B&?>$& >J%;%<=1$&1_P12;01O%>?1$DDD&<O>&??>0>=>&=1&>%1OJ;]O&$#R21&?>&21?1C>OJ;>& =1&?#$&?#"2#$&d;$%]2;J#$&1O&=;$1+#&I&?>$&>J%;%<=1$&=1?&0#=1?#&T><d><$B&

"*+4)9,5:;/7?=>E=<>7@/A/BC4:D,5:;/7P=>E=<>7@/0/F:+:.;/Q2R,5

&'*%"!&(&!+"

)$ 6 - , $ # 7 -


6-,$#7-

()*+,*,-)./0/BI:/(%%%/':7E

I& J#O%10P#2SO1#& 1?& 0#=1?#& =1& ?>& T><d><$& J#0#&?#&A<1&d>J1&<O&$;"?#B&vJ]0#&;O%12>J%/>& J#O&?#$&O<1C#$&P>2>=;"0>$w

5O& 1$%>& #J%>C>& 1=;J;]O& =1?& 5OJ<1O%2#& T-8& J2110#$& P12%;O1O%1& ;OC;%>2& >& ?#$& J1O%2#$& A#20>%;C#$&>&=1R>%;2&$;&=1$=1&$<$&P210;$>$&1?& 0#=1?#& Q$+,$+%7$(5& 1$%S& 1O& P<O%#& 0<12%#& >O%1& ?>& J#O%2;R<J;]O& J2M%;J>& >& ?#$& >J%<>?1$& =1R>%1$& $#J;>?1$n& I& >& 21A?1_;#O>2B& 1O& /?%;0>& ;O$%>OJ;>B& $#R21& ?>& P#$;R;?;=>=& =1& 21A#20<?>2& 1?&0#=1?#B&?>$&1$%2>%1";>$&=#J1O%1$&I&=1&J]0#& >J%<>?;b>2&J#OJ1P%#$D

&5% @Q:K34%R8H8%O8%9KI;K[%R8H8%KO%JK:8HH4OO4% :4GQ8O% T% LI% SLIJ4% SLO;QGLO;LH8O5% !J%<>?01O%1& 1?& J#OJ1P%#& =1& P2#=<J%#$& I& $12C;J;#$& J1O%2>=#$& 1O& 1?& <$<>2;#& 1$& =;A121O%1& >?& P?>O%1>0;1O%#& <O;C12$>?& =1& ?>& T><d><$D& 9>=>& C1b& 0S$& 1?& =;$1+#& =1& ?>& 1_P12;1OJ;>& =1?& <$<>2;#& $1& =1$>22#??>& 1O&%#=#$&?#$&S0R;%#$&I&21>?;=>=1$&=#O=1& ;OA?<I1&1?&=;$1+#D

:<;& T#O$;1P1& 21J<12=>& ?#& 1_P21$>=#& P#2& c#0S$&@>?=#O>=#&1O&$<&J#OA121OJ;>&=1?&)&=1& >R2;?&=1&'((*&1O&y1;0>2B&J#O&0#%;C#&=1?&>J%#& =1&?#$&*(&>+#$&=1&T><d><$Y & a>I&V<1&21J#O#J12&$;O&O#$%>?";>&I&$;O& %2;$%1b>&V<1&?>&T><d><$B&J#0#&0#=1?#& ;O$%;%<J;#O>?B& d#I& 1O& =M>& O#& 1$& 0S$& 21?1C>O%1D& a>& P12=;=#& C;"1OJ;>B& A<1& $<P12>=#& P#2V<1& ?#$& P2#R?10>$& V<1& %1O10#$& V<1& 1OA21O%>2& d#I& 1O& =M>& 1O& ?>&1O$1+>Ob>&=1?&=;$1+#&I&1O&?>&P2SJ%;J>& P2#A1$;#O>?&d>O&>?J>Ob>=#&<O&"2>=#&=1& J#0P?1U;=>=& P>2>& 1?& J<>?& T><d><$& O#& 1$%>R>&P21P>2>=#D&

<5% -JLG8H[%U4HS8H[%G8R8GQ;8H%T%K:RKGQ8OQV8H% R8H8%O8%HKY4OLGQ\I%JQ9Q;8O5&5O&?>&=iJ>=>& =1&)*'(B&y>?%12&:2#P;<$&=;2;";]&1?&1$PM2;%<& =1& ?>& T><d><$& d>J;>& ?>& P2#=<JJ;]O& 1O& 0>$>B& 1OJ>2O>O=#& ?#$& ;=1>?1$& =1& ?>& 12>& =1& ?>& 0SV<;O>& ZP2#=<JJ;]O& ;O=<$%2;>?[B& J<I#& 0#=1?#& P1=>"]";J#& ;=#?>%2]D& 5?& =;$1+#& >J%<>?& $1& 1OA21O%>& >& <O& 0<O=#& =;$2<P%;C#& 1O%21& 1?& 0#=1?#& =1& ?>& P2#=<JJ;]O& ;O=<$%2;>?& I& ?#$& =1$>AM#$& =1& ?>& 21C#?<J;]O& =;";%>?B& "1O12>O=#& O<1C#$& 1$P>J;#$& I& O<1C#$& 2#?1$& =#O=1& $1& %2>R>U>& 1O& 1V<;P#$& 0<?%;=;$J;P?;O>2;#$B& ;O%12=;$J;P?;O>2;#$&I&%2>O$C12$>?1$B&1O&$;$%10>$& >R;12%#$&I&J#?>R#2>%;C#$D&

-N-"%/-1w/!=A"%

'5% M4:QGQ4I8SQKI;4% J4GKI;K% 8I;K% KO% WQI4SQ4% ;H8JQGQ\I7S4JKHIQJ8J5& z{|& ?>& T><d><$& =1$J2;R1& <O>& 1$%i%;J>& >2J>;J>& V<1& $1& 210#O%>& >& 0S$& =1& <O& $;"?#D& 5O& 1$1& $1O%;=#B& ?>& 0#=12O;=>=& O<OJ>& A<1& <O>& 0#=>& $;O#& <O>& %2>=;J;]O& 0>2J>=>& P#2& 1?& 21=1$J<R2;0;1O%#& I& ?>& 21C;$;]O& =1& ?#$& C>?#21$& C12=>=12#$D& 71& ;OC;%>& >& ?#$& =;A121O%1$& 1$%<=;#$#$& =1?& S0R;%#& >J>=i0;J#& >& 21A?1_;#O>2& I& P?>O%1>2& ?#$& =;$%;O%#$& P#$;J;#O>0;1O%#$& >O%1& 1$%1& R;O#0;#B&=1$=1&?>&;OO#C>J;]O&=#J1O%1B&?>& %1#2M>&I&?>&P2SJ%;J>D

E>&T><d><$&A<1&<O&=1$P12%>2B&<O&?>R#2>%#2;#& I&<O>&1$J<1?>n&<O&?<">2&P>2>&?>&;OC1$%;">J;]OB& ?>&1O$1+>Ob>&I&?>&J21>%;C;=>=n&<O&?<">2&P>2>& ?>$& >2%1$& I& ?>& J<?%<2>D& 5O& 1?& >J%<>?& J#O%1_%#& )7%'+.-5'& J>R2M>& P21"<O%>2$1Y& v?#$& C>?#21$& J#O$>"2>=#$& 1O& 1?& 0>O;A;1$%#& A<O=>J;#O>?& $;"<1O& %>O& C;C#$& J#0#& O<OJ>& >O%1$wn& v?#$& P>2>=;"0>$& 1$%>R?1J;=#$& d>J1& J;1O& >+#$B& ?#& $;"<1O& $;1O=#& d#I& 1O& =M>wn& v$<& P1=>"#"M>& $;"<1& %1O;1O=#& <O& ;0P>J%#& 1O& O#$#%2#$wB& vI& 1O& 1?& A<%<2#wn& $;& $;"<1& $;1O=#& %>O& 21?1C>O%1&

65% -O% ;8OKI;4% T% KO% 4UQGQ4[% RHKHH498;QY8:% JKO% JQ:K34% 8I;K% KO% G4I;K_;4% 8G;L8O5% 5?& 0#C;0;1O%#& T><d><$& J#O& y>?%12& :2#P;<$B&A<1&<O>&;O%12>JJ;]O&1O%21&P#1$M>B& $>R12&d>J12B&;O%<;J;]O&I&%1JO#?#"M>D&81&?>& 0;$0>&0>O12>&V<1&1?&>2%1&I&?>&>2%1$>OM>& $1&<O;12#O&1O&?>&T><d><$B&1?&=;$1+#&I&?>& >2%1$>OM>& $1& 1O%21?>b>O& =;>2;>01O%1& 1O& %#=#$&?#$&1$J1O>2;#$&=1&J#O$<0#&I&C;=>D& f5% @Q:K38H%RH4JLG;4:%T%:KHYQGQ4:%R8H8%LI% G4I;K_;4% G4SROKb4% T% JQ:HLR;QY45& E>& T><d><$& A<1& <O& =1$P12%>2& J>2>J%12;b>=#& P#2& <O>& J<2;#$;=>=& =1$1OA21O>=>& P#2& ?#$& P2#J1$#$B&?>&;O=<$%2;>B&?>$&%iJO;J>$&=1&%2>R>U#& I&?>&A>R2;J>J;]OD&81&1$%>&0>O12>B&J>$;&%#=>$& ?>$&J21>J;#O1$&V<1&$<2";12#O&=1&?>&T><d><$& $<P12>2#O&?#$&?M0;%1$&=1&?#&A>J%;R?1D& +5% -O%OK98J4%JK%D8LP8L:%KI%!WKH48SZHQG85% !& P>2%;2& =1& )*H'B& R>U#& ?>& P21$;]O& =1?& 2i";01O& O>b;B& T><d><$& J122]& $<$& ><?>$B& P#2& ?#& V<1& 0<Jd#$& =1& $<$& >O%;"<#$& 0>1$%2#$& I& 1_>?<0O#$& C;>U>2#O& P#2& 1?& 0<O=#& =;A<O=;1O=#& ?#$& ;=1>?1$& =1& ?>& T><d><$D& c>0R;iO& ??1">2#O& >& -R12#>0i2;J>& 1_P#2%>O=#& 1?& ?>R#2>%#2;#& =1& ;=1>$& =1& ?>& 0#=12O;=>=B& $;1O=#& 1?& ;0P>J%#& 0S$& A<12%1& 1O& ?>& 1=<J>J;]O& J#0#& ;0P<?$#2>& =1& ?#$& J>0R;#$& 1O& ?>& $#J;1=>=& J#0#& P?>O%1>O& Z7>?;O>$B& '()*[& ZF2;ObB&'()*[&Z@1$$12B&'()\[&I&Z@<b;B&$DAD[D& /K_;4%4HQ9QI8O%G4SROK;4$% X((3$Z[[6%(R+8[\]^_#8$*

&'*%"!&(&!+"

I&$<&P12%;O1OJ;>&1&;=#O1;=>=&>O%1&?>$&O<1C>$& A#20>$&=1&P1O$>2&I&A;?#$#AM>&=1?&=;$1+#&>J%<>?& I&A<%<2#D&

)%


&'*%"!&(&!+"

)&

6-,$#7-

(6'.,0).,!#06'.3578!&'

#&'( )*+(,%

-.)(/%&#/*0$ ))03(.(.%"!905#!,(,.&(#(.35(",0 5?& U<1C1$& 'L& =1& >R2;?& =1?& '()*& $1& ??1C]& >& J>R#& ?>& $1"<O=>& 1=;J;]O& =1& p!%1?;12qB& <O>& 1_P#$;J;]O& =1& 10P21O=;0;1O%#$& V<1& 01bJ?>& 1?& =;$1+#B& >2%1& I& ?>& =1J#2>J;]O& 1O& ?>$& ;O$%>?>J;#O1$& =1& ?>& 4O;C12$;=>=& 9>$>& :2>O=1& Z49:[D& E>& A12;>& ;O;J;]& >& ?>$& )3d((& I& J<?0;O]& >& ?>$& '(d((D& 5?& 1C1O%#& A<1& J21>=#& P#2& ?>& J>2212>& =1& 8;$1+#& :2SA;J#& =1& ?>& N>J<?%>=& =1& 9#0<O;J>J;]O&=1&?>&49:B&I&10P1b]&P#2&P2;012>&C1b& 1O& 1?& '()\& J#O& 'L& 10P21O=;0;1O%#$B& >?& ;"<>?& V<1& 1$%1& >+#D& F>2>& P>2%;J;P>2B& =1RM>O& P#$%<?>2$1& %#=#$& >V<1??#$&V<1&%1O">O&P2#=<J%#$";O>?1$D& "*+4)9,5:;/<U=>E=<>7@/A/BC4:D,5:;/<>=>J=<>7@/0/F:+:.;/M,32)4/M^S:R)

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

5?& 1C1O%#& J#O%]& J#O& ?>& P21$1OJ;>& =1& C>2;#$& =;$1+>=#21$&I&10P21O=1=#21$&=1&=;A121O%1$&$1J%#21$& =1?& P>M$& J#0#Y& 9<1OJ>B& 7>O%>& 5?1O>B& @>Jd>?>B& x<;%#&I&:<>I>V<;?D&E>&1_d;R;J;]O&0#$%2]&1?101O%#$& #2;";O>?1$& 1& ;OO#C>=#21$B& =1$=1& 2#P>& I& $>O=>?;>$& P>2>& d#0R21$& I& 0<U121$B& d>$%>& >A;Jd1$B& %-7#V*'%6& ?S0P>2>$B&J<>=12O#$&21J;J?>R?1$B&1O%21&#%2#$D&

$:4/M,32)4/M^S:R)/_,L

5$%<=;>O%1& =1& J<>2%#& >+#& =1& ?>& J>2212>& =1& F12;#=;$0#B& =1& ?>& N>J<?%>=& =1& 9#0<O;J>J;]O& 1O& ?>& 4O;C12$;=>=& 9>$>& :2>O=1& Z49:[D& N#%]"2>A#&I&=1P#2%;$%>D


!"#$%&'(#!)%! %&"!*+),-./&0+

#-&$(/')!()0+(0$-"+)&(#!-('0&+('1 G2SO)--)/ !23,5)*)24,Z/ ).+N52,*+)/ 5)/ OD FDUUHUD GH 'LVHxR *Ui½FR HQ OD 1*23)4.25,5/#,.,/64,*5)/`1#6aZ/]N2)*/ ,S+N,-R)*+)/.)/)*SN)*+4,/)*/C4:S).:/ 5)/ +2+N-,S2T*Z/ 4).N-+T/ 9,*,5:4,/ )*/ -,/ S,+)9:4K,/ b"RC,]N)c/ 5)/ -:./ C4)R2:./ BdQ).29*/Be,45/f/#:RC)+2+2:*H @;Jd1??1&R<$J>&J21>2&J#OJ;1OJ;>&1O&?>&$#J;1=>=& >J12J>& =1& ?>& ;0P#2%>OJ;>& =1?& =;$1+#B& P#2& ?#& V<1&$<$&%2>R>U#$&%;1O1O&<O&A#O=#&J#OJ1P%<>?& 0<I&1?>R#2>=#D&5?&=;Jd#&V<1&?>&;=1O%;A;J>&1$Y& p!?0>& ?;R21B& 1$1OJ;>& J21>%;C>& 1& ;OJ#O$J;1O%1& J#O& >?>$& =1& 1$P#O%>O1;=>=qD& 5$& <O>& 0<U12& $#+>=#2>&V<1&1$%S&1O&J#O$%>O%1&R/$V<1=>&=1& ;O$P;2>J;]O&P>2>&01U#2>2&$<$&=;$1+#$D& 5?&P2#I1J%#&$<2";]&1O&1?&'()^B&J#0#&P>2%1&=1& ?>&0>%12;>&pF>Jg>";O"qB&?>&J<>?&$1&1OJ#O%2>R>& %#0>O=#& 1O& 1$1& 1O%#OJ1$& 1O& ?>& 49:n& P#$%12;#201O%1& 1?& =;$1+#& A<1& P12A1JJ;#O>=#& 1O&1?&'()\D&5?&21%#&=1&?>&=;$1+>=#2>&A<1&J21>2& <O& MJ#O#& 010#2>R?1& =1& 5J<>=#2& $#R21& $<& R;#=;C12$;=>=&I&J<?%<2>&P>2>&1_%2>OU12#$&V<1& C;$;%>O&1?&P>M$D&5?&#RU1%;C#&1$&V<1&?#$&%<2;$%>$& P<1=>O& ??1C>2$1& <O& P1=>b#& =1& ?>& 61$12C>& 9<I>R1O#B& P#2V<1& 21P21$1O%>& >$P1J%#$& J<?%<2>?1$&=1?&5J<>=#2D&

5?& 10P>V<1& p61$12C>& 9<I>R1O#q& 1$%S& ;O$P;2>=#& 1O& ?>& J#2#O>& =1& J#?#21$& d1Jd>& =1& P?<0>$& =1& >C1$B& >2%MJ<?#& =1& C1$%;01O%>& 0S$& 21P21$1O%>%;C#& =1?& P<1R?#& 9#ASOB& #2;";O>2;#& =1& ?>& P2#C;OJ;>& =1& 7<J<0RM#$& 1O& 5J<>=#2D& 5?& =;$1+#&21P21$1O%>&C;$<>?&I&$<P12A;J;>?01O%1&>& ?>& J<?%<2>B& P#2V<1& %;1O1& ?>$& P?<0>$& =1& J#?#2& 2#U#B&V<1&$#O&J>2>J%12M$%;J>$&1$1OJ;>?1$&=1&1$%>D & 71"/O& ?>$& 1$P1J;A;J>J;#O1$& =1?& P2#=<J%#B& 1?& 10P>V<1&A<1&d1Jd#&P>2>&;0P2;0;2$1&1O&P>P1?& >2%1$>O>?B&V<1&?#&C<1?C1&1J#?]";J#&I&21$;$%1O%1D& !=10S$B&$1&P<1=1&>=>P%>2&1O&C>2;#$&%>0>+#$B& =1$=1&R#?$>$&=1&J#0P2>$&d>$%>&J>U>$&P1V<1+>$D& 5?& J#OJ<2$#& $1& =1$>22#??>& >& O;C1?& 0<O=;>?& J#O& $1=1& 1O& -%>?;>B& I& ?>& /O;J>& J>%1"#2M>& 1$& pF2#A1$;#O>?1$qD&!$;0;$0#B&1?&U<2>=#&1$J#";=#& 1$&=1&=;A121O%1$&P>2%1$&=1?&0<O=#D& 6;C>=1O1;2>&$1&1O%12]&=1&$<&%2;<OA#&>&%2>Ci$&=1& ?>&PS";O>&#A;J;>?D&5??>&>$P;2>&>&$12&<O>&=;$1+>=#2>& C12$S%;?B&21J#O#J;=>&P#2&$<&J>?;=>=&"2SA;J>&I&?#$& J#OJ1P%#$&V<1&>P?;J>&1O&$<$&=;$1+#$D& 61$P1J%#& >?& P2#J1$#& V<1& C;C;]& I& $<& %2;<OA#B& 6;C>=1O1;2>& 01OJ;#O]& 1O& <O>& 1O%21C;$%>& P12$#O>?Y&p@1&>P#2%]&1_P12;1OJ;>B&P#2V<1&A<1& 0;&P2;012>&P>2%;J;P>J;]O&$#?>&1O&<O&J#OJ<2$#B& >=10S$&>0P?;i&0;&J#O#J;0;1O%#&1O&J<>O%#&>& $1?1JJ;]O&I&21A121OJ;>$&=1?&=;$1+#qD n>-#/-$%!t81$;"O&!`>2=&*&9#0P1%;%;#O

$:4/MN-2..,/#:4:*)5$%<=;>O%1& =1& J<>2%#& >+#& =1& ?>& J>2212>& =1& F12;#=;$0#& J#O& 01OJ;]O& 1O& 81P#2%1$& =1& ?>& N>J<?%>=& =1& 9#0<O;J>J;]O&=1&?>&4O;C12$;=>=&9>$>& :2>O=1&Z49:[D&

&'*%"!&(&!+"

1 5 0 * ! ( & ! ' " 0 #

)!

"*+4)9,5:;/8>=>J=<>7@/A/BC4:D,5:;/>8=>?=<>7@/0/F:+:.;/BgQ).29*/Be,45/f/#:RC)+2+2:*

6-,$#7-

()*+,*,-)./0/BI:/(%%%/':7E


6-,$#7-

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

!!!!!"#$%!&'()%

!234567689)

:;<4=4=6345>)

?2@6A68)B4=45C)4AD?=45) E)3<4E?7=45)F?G)H<=65=H)

*+%,!-./%,!,0!)-12-303!40!4(50/0360,!2(07%,!58,()%,! 9!)-3)026#%$0,:!;<#%$10360=!$%,!1>$6(2$0,!$0)6#/%,! 20/1(603! $%! /0)-3,6/#))(?3! ,#.@06(A%! 40! 4()'-,! )-3)026-,! 9! 2/-)0,-,=! %! 2%/6(/! 40! $%,! 0A(403)(%,! 5-/1%$0,!40!$-,!-.@06-,!%/68,6()-,B:!C!D%A(0/!E$#1

IHJ6?<)KGLM

"-/<8/5)/R,4L:/5)/<>7@Z/)-/,4+2.+,/h,32)4/W-NR/--)3T/,/ FDER OD H[SRVLFLyQ ²3URWRWLSRV³ FRPR SDUWH GH $XOD #O2S,Z/ N*/ C4:Y)S+:/ S4),5:/ )*/ )-/ <>7@/ C:4/ -,/ 1*25,5/ 5)/$4:\).2:*,-2L,*+)./5)/-,/1*23)4.25,5/#,.,/64,*5)/ `1#6aZ/)-/SN,-/DN.S,/.)4/N*,/).+,S2T*/C,4,/S:RC,4+24/ S:*:S2R2)*+:.H/W-NR/*:./D42*5,/,/S:*+2*N,S2T*/N*,/ H[SOLFDFLyQ GHWDOODGD GH VX PXHVWUD F>2>&?>&1U1J<J;]O&=1&?>$&P;1b>$&$1&<%;?;b>2#O&0>%12;>?1$&=1&21J;J?>U1Y& p5O&%;10P#$&J<>O=#&I>&O#&1$&R2#0>&J<;=>2&1?&P?>O1%>B&$;O#&<O>& O1J1$;=>=B& 1?& <%;?;b>2& 1?101O%#$& P?S$%;J#$& I& =1& J>2%]O& 21$<?%>& J#OA?;J%;C#&1O&1?&J>0P#&=1?&>2%1B&=>=>&?>$&J<>?;=>=1$&O#&A;O>$B&O;& O#R?1$B&=1&?#$&0;$0#$D&!O%12;#201O%1B&<O>&=1&?>$&P21#J<P>J;#O1$& 12>& ?>& =<2>R;?;=>=& AM$;J>& =1& ?>$& #R2>$B& I& %>0R;iO& $<& =1$>22#??#& %iJO;J#D&&F12#B&?#&V<1&>O%1$&12>&<O&=1A1J%#&=1&WQ4JK9H8J8WQOQJ8JB& d#I&P<1=1&$12&<O>&C;2%<=&%iJO;J>&=1&?>$&P;1b>$qD 7#R21&?>&%10S%;J>&=1&$<$&P;1b>$B&J#01O%>&V<1&$1&1OA#J]&1O&?#&V<1&i?& ??>0>&p!C1$&O>C1$qY pE>$& P#$;R?1$& %2>O$;J;#O1$& 1C#?<%;C>$& =1& ?>& C;=>& =1?& 0>2& >& ?>& %;122>B& >?& >;21& Im#& C;J1C12$>B& J#O??1C>O& >$#J;>J;#O1$& >& C1?12#$& I& R#%1$B& >& 10R>2J>J;#O1$& I& C1dMJ<?#$& =1& O<1$%2#& ;0>";O>2;#& J#%;=;>O#D&E>&;=1>&=1&A?#%>2B&=1&C#?>2&#&=1$?;b>2$1&1$&P?>J1O%12>B& ?;R12>=#2>& I& 10P#=12>=#2>B& P<1$& 1C#J>& 1?& A?<;2& >& $>?C#& 1O& 1?& =1C1O;2&=1?&%;10P#D

"*+4)9,5:;/<U=>8=<>7@/A/BC4:D,5:;/>E=>E=<>7@/0/F:+:.;/G,4+2*,/W-NR/Y/h,32)4/W-NR

&'*%"!&(&!+"

)'


6 - , $ # 7 - )(

()*+,*,-)./0/BI:/(%%%/':7E

&'*%"!&(&!+"

Eb)7#54#';-7#5"&9#0R;O>2&1?&"#b#&=1&d>J12B& =1&J#O$%2<;2B&P>2>&P#%1OJ;>2&$;O>P$;$&1O& O<1C>$&21=1$&O1<2#O>?1$B&P2#P;J;>O=#&1?& =1$>22#??#&=1&J#O#J;0;1O%#$&I&=1$%21b>$& P#2& 01=;#& =1& 1$%#$& #RU1%#$& V<1B& >& $<& C1bB& $1& J#OC;12%1O& 1O& =;$P>2>=#21$& =1& P#$;R?1$& 21A?1_;#O1$& 1O& =;A121O%1$& S21>$& =1& ?>$& J;1OJ;>$& I& $#J;1=>=1$D& & T;#?#"M>B& 1J#O#0M>B& 1J#?#"M>B& ;=1O%;=>=& =1& "iO12#& I& 1%>2;>B& P#2& ?>& A#20>B& 1?& 0#=#& =1& P2#=<JJ;]OB& 1?& 0>%12;>?B& 1?& d#0R21& >=<?%#&V<1&U<1">B&P;1O$>&I&J21>D W'>$(54'+'$2"&&5O%21&;=>$&I&C<1?%>$&>??>$& I&J>??1$&O#$&%2>O$P#2%>0#$&AM$;J>B&01O%>?&

I& 10#J;#O>?01O%1& >& C>2;#$& S0R;%#$B& dSR;%>%$& 1& ;O%12>JJ;#O1$& d<0>O>$B& >J21J1O%>O=#& ?>$& 21?>J;#O1$& I& 1?& ;2& d>J;1O=#&?>$&J#$>$&=1?&>2%1D&E>$&>2%1$&=1& P1$J>&I&$<$&=;$1+#$B&R>?=1$&I&P?>%>A#20>$& =1&J>0;#O1$&I&J>0;#O1%>$B&?>$&21A;O12M>$& I&J>%>?;O>$B&?>&A><O>&P1O;O$<?>2B&P1201>O& A#20>$&I&$1O%;=#$&=1&?>$&#R2>$qD& j& $#R21& 1?& J#O%1_%#& =1O%2#& =1?& V<1& $1& =1$>22#??>& 1$%>& %10S%;J>B& 1_P?;J>& V<1& $1& ;O$P;2]& 1O& ?#$& "2<P#$& ;O=M"1O>$& 9d#O#W& @>O%>W:<>OJ>C;?J>Y pE>& "1O%1& V<1& d>R;%]& ?>& P1OMO$<?>& =1& 7>O%>& 5?1O>& I& ?>$& P2#C;OJ;>$& =1&

:<>I>$& I& @>O>RM& $1"<;0#$& >V<MB& $;1O=#B& 1$P12>O=#B& 21J21SO=#O#$B& C#?C;iO=#O#$&O<1C>&J>=>&C1bB&A#2U>O=#& O<1C>$&>?;>Ob>$B&>?"<O>$&"?#R>?1$D&E>$& %1JO#?#"M>$& =1?& J<;=>=#& =1?& >"<>B& ?>& d>R;%>J;]OB& O>C1">J;]OB& >"2;J<?%<2>B& >?A>212M>B& 0/$;J>& I& =>Ob>$& O<%21O& $;"O;A;J>=#$B& ;O"1O;#$& I& A>J%<2>$D& !$MB& J122#$B&J;<=>=1$&I&P?>I>$&$1&J#OC;12%1O& 1O& %122;%#2;#$& 21$;"O;A;J>=#$& P#2& 1$%>& 21C;%>?;b>J;]O& =1& 010#2;>B& ;=1O%;=>=B& 21?>J;#O1$&I&P2#=<J%#$qD


&'*%"!&(&!+"

+#

6-,$#7-

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

h,32)4/W-NR/$2*+:/)./N*/,4+2.+,/Y/9).+:4/ 9N,Y,]N2-)I:H/_,/.25:/C,4+)/5)/52\)4)*+)./ 94NC:./ ,4+K.+2S:.Z/ 5).5)/ -:./ :SO)*+,Z/ 4),-2L,*5:/2*+)43)*S2:*).Z/S:*3:S,+:42,.Z/ RN).+4,.Z/)*+4)/:+4,./,S+2325,5).H "./ R,9K.+)4/ )*/ "5NS,S2T*/ iNC)42:4Z/ %*3).+29,S2T*/)/%**:3,S2:*)./$)5,9T92S,./ 5)/ -,/ 1#6H/ j2)*)/ N*,/ -2S)*S2,+N4,/ )*/ B4+)./ 5)/ -,/ 1*23)4.25,5/ 5)/ $,4K./ (%%%H/ i)/ \:4RT/ )*/ +),+4:/ 5)*+4:/ 5)/ -,./ 52.S2C-2*,./ 5)/ M)4LY/ 64:+:e.kY/ Y/ "N9)*2:/ W,4D,Z/ C,4+2S2C,*5:/ )*/ "SN,5:4/ S:*/ )-/ 94NC:/ 5)/ +),+4:/ $,S,42/ Y/ j),+4:/ j4,*.C,4)*+)H/ j2)*)/ 4)92.+4,5:/ )*/ )-/ %"$%/ .N/ R)+:5:-:9K,/ C,4,/ )-/ 5).,44:--:/ 5)/ -,/ S4),+2325,5/ b$)*.,R2)*+:/-l52S:=S4K+2S:cH "./ 5:S)*+)/ )*/ -,/ 1#6/ 5).5)/ 7@@<Z/ 5:*5)/2*S-N.:/O,/S:-,D:4,5:/)*/3,42:./ C4:Y)S+:./ 2*.+2+NS2:*,-)./ S:R:/ bBm^/ $,4]N)/5)/-,/#2)*S2,cZ/S:*/-,/"i$nop/Y/ )-/b$,4]N)/5)/-,/MN3)*+N5cZ/)*/W,D,O:Y:H !)C4).)*+T/ ,/ "SN,5:4/ )*/ -,/ <8/ W2)*,-/ 5)/ i,:/ $,N-:/ `7@@PaH/ _,/ C,4+2S2C,5:/ )*/ Rl-+2C-)./ RN).+4,./ 5)*+4:/ Y/ \N)4,/ 5)-/ "SN,5:4H/ FN)/ mN4,5:/ 5)/ -,/ h%/ W2)*,-/ %*+)4*,S2:*,-/`<>77aZ/)/2*32+,5:/,-/F).+23,-/ %*+)4*,S2:*,-/ 5)/ B4+)/ BSS2T*/ `<>7Ja/ Y/ ,/ Q2*^R2S,/F-N32,-/`<>7UaZ/)*/#N)*S,H #:*/-,./S:RN*,./5)/-,/!N+,/6N,*S,32-S,Z/ 5).5)/ )-/ <>7EZ/ 9)*)4,/ -,./ QB'qBi/ qnnGn!FBiZ/]N)/5,*/SN)*+,/5)/C4:S).:./ 5)/)RC:5)4,R2)*+:/5).5)/-,./R)R:42,./ -:S,-).Z/ Y/ C4)+)*5)*/ C:.2S2:*,4.)/ S:R:/ C4:CN).+,/ ,-+)4*,+23,/ 5)/ -,./ 5,*L,./ S:.+NRD42.+,.Z/ )*/ 52\)4)*+)./ C:D-,S2:*)./5)/-,./C4:32*S2,./5)/i,*+,/ "-)*,Z/G,*,DK/Y/6N,Y,.H


ESPACIOS DE APRENDIZAJE

87


$/)-%"./(!$(-)#$'!"<-8$

$:4/o)+2S2,/n4S[. ,;J1J>OJ;??12B&21$P#O$>R?1&=1&?>&C;OJ<?>J;]O&J#O&"2>=<>=#$& I& =#J1O%1& =1& ?>& 4O;C12$;=>=& 9>$>& :2>O=1D& @>"M$%12& 1O& 5=<J>J;]O& 7<P12;#2B& -OC1$%;">J;]O& 1& -OO#C>J;#O1$& F1=>"]";J>$& =1& ?>& 49:& I& 0>"M$%12& 1O& 5$%<=;#$& =1& 7#J;1=>=1$& E>%;O#>012;J>O>$B& lPJ;]O& 5J#O#0M>& =1& ?>& 4O;C12$;=>=&7#2R#O>&.<1C>&W&F>2M$&HD

@4GKI;K:$&e;01O>&T>R2>B&@>2;O>&7>?C>21bb>B& 9>0;?>& !2#$101O>B& ,;C;>O>& 5?;b>?=1B& -?#O>& ,>??>2;O#&I&F>01?>&,;??>C;J1OJ;#D k4W*WL:QIK::$& a>J;1O=#& =1& 0;& ,5>>7*& <O& O1"#J;#&Z81?&))&>?&')&=1&0>2b#&=1&'()*[

"*/ R,4L:/ 5)/ <>7@Z/ C:4/ SN,4+,/ :S,.2T*/ 5).5)/ )-/ <>7?/ ]N)/ .)/ --)3T/ ,/ S,D:/ -,/ C42R)4,/ )52S2T*/ 5)-/ C4:94,R,/ b$4)/ #:--)9)/ i+,4+=NCcZ/ .)/ 4)S2D2T/ ,/ J?/ ).+N52,*+)./ 5)/ D,SO2--)4,+:Z/ ]N2)*)./ .)/ 2*.S42D2)4:*/ 5)/ -N*)./ ,/ mN)3).Z/ 5)/ @O>>/ ,/ 7<O>>Z/ )*/ / 52\)4)*+)./ SN4.:./ 3,S,S2:*,-).Z/ .2*/ ,D,*5:*,4/ -,/ PHWRGRORJtD H[SHULHQFLDO \ YLYHQFLDO GHO b,C4)*5)4/O,S2)*5:c/]N)/S,4,S+)42L,/,/-,/ 1*23)4.25,5/#,.,/64,*5)H/B/S:*+2*N,S2T*Z/ -,/:\)4+,/,S,5[R2S,/5).,44:--,5,H

MLWOQG% "RK8lQI9$% G4SLIXG8;K% T% G4IYKIGK& Z81?&))&>?&')&=1&0>2b#&=1&'()*[ 71& 01U#2>2#O& ?>$& =1$%21b>$& J#0<O;J>%;C>$& Zd>R?>2&01U#2&1O&P/R?;J#B&>P21O=12&>&=1R>%;2&#& >2"<01O%>2&;=1>$[B&?#&V<1&$12S&=1&"2>O&<%;?;=>=& >?& P21$1O%>2& $<& 0#O#"2>AM>& I& >?& =1$>22#??>2& #%2>$&>J%;C;=>=1$&=1&$<&P2#J1$#&=1&"2>=<>J;]O& 1O& R>Jd;??12>%#D& !=10S$B& A#2%>?1J;12#O& $<& 1_P21$;]O&J#2P#2>?&I&$1"<2;=>=&1O&$M&0;$0#D& 9#0#&%2>R>U#&A;O>?&21>?;b>2#O&P21$1O%>J;#O1$& #2>?1$&A21O%1&>&<O&U<2>=#D

&'*%"!&(&!+"

$/2*!"-'2$/( !$(%.,$6".(-!=*"$#$' !$/2#$<-/($'(*%6

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

71&>=V<;2;12#O&?>$&=1$%21b>$&O1J1$>2;>$&P>2>& 10P21O=12&$<&P2#P;#&O1"#J;#B&>&P>2%;2&=1&<O& ,5>>7*D& !P21O=;12#O& >& 1OJ#O%2>2& <O& O;Jd#& =1& 012J>=#& P>2>& $<& P2#=<J%#& #& $12C;J;#B& >& <$>2&<O>&d122>0;1O%>&RS$;J>&P>2>&;OC1$%;">2& $<& 012J>=#B& >& A;O>OJ;>2& 1?& O1"#J;#& I& >& P2#0#J;#O>2?#D& F>2>& A;O>?;b>2& 1?& J<2$#B& J>=>& >?<0O#& P21$1O%]& $<& P2#I1J%#& ?;$%#& P>2>& 10P21O=12&A21O%1&>&<O&U<2>=#D @4GKI;K:$& 5O2;V<1& 6#U>$B& T#2;$& E>$J>O#B& 6#=2;"#& 9;$%12O>$B& ,;C;>O>& 5?;b>?=1B& -?#O>& ,>??>2;O#B&!O>R1??1&N;"<12#>&I&!O=2i$&.>=12D =HK8GQ\I%JK%G\SQG:$%HK8OQV8%;L%RH4RQ8%PQ:;4HQK;8% 71& A#2%>?1J;12#O& d>R;?;=>=1$& =1?& 0<O=#& =1& ?>$& d;$%#2;1%>$Y& 0i%#=#$& P>2>& =;R<U>2& I& 1_P21$>2& $<$& ;=1>$& 01=;>O%1& %2>b#$n& J21>2& d;$%#2;>$& O<1C>$& 1O& %1_%#& I& "2SA;J#$B& <%;?;b>2& ?>& J21>%;C;=>=& >?& ;OC1O%>2& J]0;J$& #2;";O>?1$& #&=1$>22#??>2&d>R;?;=>=1$&?/=;J>$D&N;O>?;b>2#O& $<$&J?>$1$&J#O&<O>&1_P#$;J;]O&=1&$<$&J]0;J$&I& ?1I1O=#&A21O%1&>&$<$&J#0P>+12#$&<O&1_%2>J%#& =1&?>&d;$%#2;1%>&V<1&J21>2#OD&

@4GKI;K:$& @><2;J;#& :;?& I& ,>?12;>& :>?>2b>B& ><%#21$& =1& d;$%#2;1%>$& I& A<O=>=#21$& =1& ?>& P2;012>& 1=;%#2;>?& =1& J]0;J$& =1?& 5J<>=#2B& p@#O#&9]0;J$qD

`MHK% =4OOK9K% ";8H;*>Ra% K:% LI% RH49H8S8% JQHQ9QJ4%8%K:;LJQ8I;K:%KI;HK%&f%T%&^%834:[% JK% RHQSKH4% T% :K9LIJ4% 834% JK% G4OK9Q45% #8GQ\%KI%KO%<)&+%G4I%KO%UQI%JK%JK:8HH4OO8H% KI% :L:% 8:Q:;KI;K:% JK:;HKV8:% e;QOK:% R8H8% O8% YQJ8% JQ8HQ8[% 4% R8H8% K_RO4H8H% S]:% :L:% QI;KHK:K:%Y4G8GQ4I8OK:[%T%dLK%8%:L%YKV%:K% JQYQKH;8I%T%R4;KIGQKI%:L%GHK8;QYQJ8J5

"*+4)9,5:;/>J=>E=<>7@/A/BC4:D,5:;/78=>J=<>7@/0/F:+:.;/Q,325/',5)4

!"#$!$%&!'"()

+)


()*+,*,-)./0/BI:/(%%%/':7E

$/)-%"./(!$(-)#$'!"<-8$

++

$:4/6,D42)-,/n4+KL/#O,ST* 5$%<=;>O%1& =1& %12J12& >+#& =1& ?>& J>2212>& =1& 9#0<O;J>J;]O& 7#J;>?& J#O& 01OJ;]O& 1O& 61=>JJ;]O& I& 921>%;C;=>=& 5$%2>%i";J>& =1& ?>& N>J<?%>=& =1& 9#0<O;J>J;]O& =1& ?>& 4O;C12$;=>=& 9>$>&:2>O=1&Z49:[D&!J%<>?01O%1&1$&21=>J%#2>& 1O&?>&>"1OJ;>&7>?%;C12;&l";?CID

Silencia la violencia

Campaña ganadora en primera edición de concurso La Colmena

5O&1?&'()*&O>J1&E>&9#?01O>B&<O&J#OJ<2$#&J21>=#&P#2&?>&>"1OJ;>&F<R?;J;%>$& 7>>%Jd;&*&7>>%Jd;B&V<1B&01=;>O%1&<O&>'7*8&21>?B&=1$>A;]&?>&J21>%;C;=>=&=1& ?#$&J<>%2#&1V<;P#$&=1&1$%<=;>O%1$&=1&%12J12&I&J<>2%#&>+#&V<1&P>2%;J;P>2#OD& 5?&%2;<OA>=#2&?#"2>2M>&V<1&$<&P2#P<1$%>&A<1$1&?;J;%>=>D& 5?& J?;1O%1B& 501?1JB& R<$J>R>& <O>& ;=1>& P>2>& >J>R>2& J#O& ?>& C;#?1OJ;>& 1O%21& ?>$& R>22>$& R2>C>$D& e<O%#& >& 0;& 1V<;P#B& e<>O& e#$i& 81?">=#B& :>R2;1?>&:>2JM>B&6>$d1?&:#I1$B&.>C;>OO>&7<>21bB&@>2J1?#&5$P;O#b>& I&.>%d>?I&8<2SOB&">O>0#$&J#O&?>&J>0P>+>&p7;?1OJ;>&?>&C;#?1OJ;>qD 5O&?>&$10>O>&V<1&=<2]&1?&J#OJ<2$#&O#$&21<O;0#$&1O&?>$&#A;J;O>$&=1& F<R?;J;%>$D&8<2>O%1&?>$&??<C;>$&=1&;=1>$B&C>2;#$&J21>%;C#$&I&1U1J<%;C#$& O#$&>J#O$1U>2#O&I&>I<=>2#O&>&V<1&?>$&;=1>$&A?<I>On&1O%21&1??#$B&e<>O& @>O<1?&.1"2]O&I&e1>O&F;1221&T<1O>C1O%<2>D&

&'*%"!&(&!+"

1 5 0 * ! ( & ! ' " 0 #


$/)-%"./(!$(-)#$'!"<-8$

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

.<1$%2>& ;OC1$%;">J;]O& I& =;$J<$;#O1$& =1?& %10>& O#$& ??1C>2#O& >& =1$J<R2;2& =#$& 7(%7&,-%4 ;0P#2%>O%1$& V<1& A<12#O& ?#$& P;?>21$& 1O& ?>& J21>J;]O& =1& ?>& J>0P>+>D& 5?& P2;012#Y& ?#$& "<>I>V<;?1+#$& C1O& 1?& A/%R#?& P#2& J#?#21$& Z>0>2;??#& #& >b<?[B& I& $;& O#& ?1$& >"2>=>& 1?& J#?#2& V<1&#%2>&P12$#O>&21P21$1O%>B&?>&=;$J2;0;O>OB& >%>J>O&I&C;#?1O%>OB&J21SO=#$1&<O>&$;%<>J;]O& P>21J;=>& >?& 2>J;$0#D& 5?& $1"<O=#Y& $;10P21& 1$P12>O& >& V<1& >?"#& 21>?01O%1& 0>?#& $<J1=>B& J#0#&<O>&0<12%1B&P>2>&21>JJ;#O>2&I&d>J12&<O& J>0R;#D&!$M&&O>J1&p7;?1OJ;>&?>&C;#?1OJ;>qD

E>& J>0P>+>& J#01Ob>2M>& J#O& <O& P>2%;=#& >0;$%#$#&1O%21&T>2J1?#O>&I&501?1JB&=<2>O%1&1?& J<>?& $1& d>2M>& <O& 0;O<%#& =1& $;?1OJ;#& P#2& J>=>& CMJ%;0>& =1& C;#?1OJ;>& 1O& ?>$& R>22>$B& =1%1O;1O=#& %>O%>$& C1J1$& 1?& U<1"#& V<1& RS$;J>01O%1& O#& d>R2M>&P>2%;=#D&5?&A;O&12>&?#"2>2&V<1&?#$&A>OS%;J#$& J#0P21O=>O& V<1& J<>O=#& A>??1J1& <O& d;OJd>B& 0<121&1?&A/%R#?B&I&0<I&P2#O%#&I>&O#&d>R2M>&<O& P>2%;=#& V<1& U<">2D& E<1"#B& $>?=2M>O& >& ?>& C1O%>& J>0;$>$&=1&?>&J>0P>+>B&01bJ?>O=#&1?&>b<?&I&1?& >0>2;??#B&I&1O&?>&P>2%1&%2>$12>&?#$&O#0R21$&=1& ?>$&CMJ%;0>$B&1O&$1+>?&=1&21$P1%#D&N;O>?01O%1B&$1&

J1?1R2>2M>&<O&O<1C#&P>2%;=#B&1O&1?&V<1B&d>R;1O=#& 21A?1_;#O>=#& $#R21& 1?& P2#R?10>B& $1& P#=2M>& =;$A2<%>2&=1?&1C1O%#&$;O&C;#?1OJ;>D 5O&?#&P2#A1$;#O>?B&1$%>&1_P12;1OJ;>&$;"O;A;J]&<O& "2>O&>P21O=;b>U1&I&=1$>AM#B&I>&V<1&1O&$<&J#2%#& %;10P#& Z)& $10>O>[& ?#"2>0#$& J21>2& O#& $#?#& <O>&R<1O>&;=1>&$;O#&%>0R;iO&;OJ21MR?1$&P;1b>$& "2SA;J>$B&;OJ?<I1O=#&<O&C;=1#J>$#D&!$M&0;$0#B& 1?&>P#2%1&=1&0;&"2<P#&A<1&1_%2>#2=;O>2;#&I&01& $;1O%#& >"2>=1J;=>& =1& V<1& U<O%#$& $>J>0#$& >=1?>O%1&<O>&;OJ21MR?1&J>0P>+>D

>I%:K9LIJ4%9HLR4%2)$)0")'&%'-%;8SWQZI%;HQLIU\%KI%KO%G4IGLH:4%28%=4OSKI8[%KO%GL8O%O4%QI;K9H8H4I$%BZIK:Q:%14OQI8[% NL8I%M8WO4%14IG8T4[%.8OKHQ8%14H8OK:[%@4SZIQG8%x8OJe8[%,8U8KOO8%M8V[%=Z:8H%14HKQH8%T%.8OKHQ8%"KHH8I4

"*+4)9,5:;/<?=>E=<>7@/A/BC4:D,5:;/<<=>J=<>7@/0/F:+:.;/S:4+).K,/5)/-,/,N+:4,

&'*%"!&(&!+"

+$


()*+,*,-)./0/BI:/(%%%/':7E

$/)-%"./(!$(-)#$'!"<-8$

+% &'*%"!&(&!+"

QH 4 M H P M P 4 ! R ! P # 1 U M 53"/41035&44 4 ! T 1 &/ $04 : 46 P#E!#S H R M Q ¼#-* %03&4 1 ! D P 4 D! "-3&%&

( ) ( ! ' & % $ # !"

$:4/j,R,4,/i)44,*:/6TR)L

5$%<=;>O%1& =1& %12J12& >+#& =1& ?>& J>2212>& =1& F12;#=;$0#&=1&?>&N>J<?%>=&=1&9#0<O;J>J;]O&=1& ?>&4O;C12$;=>=&9>$>&:2>O=1&Z49:[D

0W:;H8G; 5?&#RU1%;C#&=1&1$%>&;OC1$%;">J;]O&A<1&1_P?#2>2&P12J1PJ;#O1$&I&P2SJ%;J>$& =1&$1"<2;=>=&=1&0<U121$&<O;C12$;%>2;>$&1O&?#$&%2>O$P#2%1$&P/R?;J#$&I& $<$& >?21=1=#21$B& >& %2>Ci$& =1& %21$& 1O%21C;$%>$D& E#$& 21$<?%>=#$& A;O>?1$& 1C;=1OJ;>O&V<1&?>$&1$%<=;>O%1$&=1&<O;C12$;=>=1$&C;C1O&J#O$%>O%101O%1& $;%<>J;#O1$&=1&C;#?1OJ;>&=1&"iO12#&=<2>O%1&$<&0#C;?;b>J;]O&J#%;=;>O>D 0I;KGKJKI;K:%T%HKYQ:Q\I%G4IGKR;L8O }& & & 4O& ;OA#201& 21C1?]& V<1& 1?& >J#$#& $1_<>?& 1O& ?>$& J>??1$& I& =1O%2#& =1?& %2>O$P#2%1& P/R?;J#& 1$& <O& P2#R?10>& =;>2;#& I& pO#20>?;b>=#q& "?#R>?01O%1&ZF?>O&-O%12O>J;#O>?B&'()\[D

}&&&&!?21=1=#2&=1&\&=1&J>=>&)(&0<U121$&1J<>%#2;>O>$&J#O$;=12>&d>R12& $;=#& >J#$>=>& #& C<?O12>=>& 1O& 1?& %2>O$P#2%1& P/R?;J#& Zp5J<>=#2& 21A<12b>&?<Jd>qB&'()^[D }& & & 5?& 3(~& =1& ?#$& J>$#$& =1& >R<$#& $1_<>?& 21";$%2>=#$& 1O& 1?& '()^& #J<22;12#O&1O&%2>O$P#2%1$&P/R?;J#$&Z61=>JJ;]O&7#J;1=>=B&'()^[D }&&&&&5O&?>&$#J;1=>=&#JJ;=1O%>?&>J%<>?B&?>&J<?%<2>&P21=#0;O>O%1&;0P#O1& >&?>&s0<U12&#RU1%#t&1O&<O&?<">2&P2;C;?1";>=#&=1O%2#&=1?&"2<P#&=1& 1$%121#%;P#$&Ze<$%#&I&7P>%>2#B&'()L[D }&&&&&&&&&&5?&>J#$#&J>??1U12#&?#&J#0P#O1O&0;2>=>$B&;O$;O<>J;#O1$B&J#01O%>2;#$B& $#O;=#$B& 2#J1$& #& J<>?V<;12& #%2#& >JJ;#O>2& =1& J#OO#%>J;]O& $1_<>?& V<1& O#& $1>& J#O$1O%;=#& P#2& ?>& 0<U12& 1O& J<1$%;]O& ZlR$12C>%#2;#& J#O%2>&1?&!J#$#&9d;?1B&'()L[D


$/)-%"./(!$(-)#$'!"<-8$

MHK9LI;8%JK%QIYK:;Q98GQ\I$&v9<S?1$&$#O&?>$&P12J1PJ;#O1$&I&P2SJ%;J>$& =1&$1"<2;=>=&V<1&?>$&0<U121$&%;1O1O&1O&?#$&%2>O$P#2%1$&P/R?;J#$&I&$<$& >?21=1=#21$B&1O&?>&J;<=>=&=1&:<>I>V<;?w 1K;4J4O49X8 }&?(85O+*/&J<>?;%>%;C#D }&@G-5)5/&A1O#01O#?#"M>D }4W(7)$)*%4)*4$(<27%7%/&0<U121$&<O;C12$;%>2;>$&=1&P21"2>=#B&1O%21&)\& >&'L&>+#$B&V<1&<$>O&%2>O$P#2%1&P/R?;J#&1O&?>&J;<=>=&=1&:<>I>V<;?D }&3$'-7#7.$(-*%/&1$%<=;>O%1$&<O;C12$;%>2;>$D }&JG#(7#$/&1O%21C;$%>&$10;1$%2<J%<2>=>D }&L(<27%7%/&J>%1"#2;b>J;]O&1O&1?&$#A%`>21&x8!&@;O12&E;%1D ,K:LO;8J4: K5>'*4*^.*'7*(#7$ p@1{&01&=;#&J#0#DDD&J#0#&>$J#&Z<O&P;2#P#&J>??1U12#[D&7MB&01&=;#&>$J#D&71O%M& V<1{&O#&$iB&V<1&%>?&C1b&J<>?V<;12&d#0R21&V<1&1$%i&?<1"#&1O&1$1&0;$0#& 2>O"#&=1&1=>=&P#=2M>&=1J;201&#&d>J1201&>?"#&>$MqD&5O%21C;$%>=>&)D

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

=4IGOL:Q4IK: }& 7;& R;1OB& $1& d>O& ;0P?101O%>=#& >?"<O>$& 01=;=>$& 1O& ?#$& %2>O$P#2%1$&P/R?;J#$&P>2>&">2>O%;b>2&1?&R;1O1$%>2&=1&?#$&<$<>2;#$B& J#0#&R#%#O1$&=1&PSO;J#B&"<>2=;>$&1O&?>$&1$%>J;#O1$&I&$>OJ;#O1$& 1O&?>$&?1I1$&0<O;J;P>?1$n&?>&$1O$>J;]O&=1&;O$1"<2;=>=&J#O%;O/>D& }&E>&P12J1PJ;]O&=1&$1"<2;=>=&=1&?>$&1O%21C;$%>=>$B&1O&J<>O%#&>&$<& %2>$?>=#&1O&><%#R<$1$&I&>&P;1&$1&C1&>A1J%>=>&P#2&1?&=1$J#O#J;0;1O%#& =1&?>$&$>OJ;#O1$&>&?#$&>"21$#21$&I&?>&P#J>&J#OA;>Ob>&V<1&%;1O1O&1O& ?>$&><%#2;=>=1$&P>2>&%2>%>2&1$%1&%10>D }&5?&J#OJ1P%#&=1&p>J#$#&$1_<>?q&1$%S&J>=>&C1b&0S$&;O%12;#2;b>=#&1O& ?>$&1$%<=;>O%1$&<O;C12$;%>2;>$&"<>I>V<;?1+>$B&$;O&10R>2"#B&=1O%2#& =1&?>&$#J;1=>=&$1&$;"<1O&O#20>?;b>O=#&>?"<O#$&J#0P#2%>0;1O%#$& V<1&1O%2>O&1O&1$%>&J>%1"#2M>D }& E>& >P>2;1OJ;>& AM$;J>B& %>O%#& =1& ?>& >A1J%>=>& J#0#& =1?& >"21$#2B& 21$<?%>& $12& <O& A>J%#2& P#=12#$#& >& ?>& d#2>& =1& P21C12& $;%<>J;#O1$& =1&>J#$#D&5O&1?&P2;012&J>$#B&1??>$&%2>%>O&=1&$>?;2&=1&J>$>&J#O&2#P>& V<1&O#&s??>01&?>&>%1OJ;]OtD&5O&1?&$1"<O=#&J>$#B&d>I&<O&1$%121#%;P#& =1& C1$%;01O%>& 1O& 1?& V<1& 1$& 0S$& P2#R>R?1& V<1& <O& d#0R21& $1>& 1OJ>$;??>=#&J#0#&>J#$>=#2D

K5>'*4.*'#*.#7:(4)*4%*&+'7)$)

,KUKHKIGQ8:

p@1&C>O&>&=1J;2&V<1&O#&12>&$<A;J;1O%1&?#&=1?&R<$B&P#2&1U10P?#B&J#0#&$#?#& 01&C1M>O&Z=<2>O%1&3L&0;O<%#$B&?#&V<1&=<2>&$<&%2>I1J%#&1O&1?&R<$[D&@1&C>O& >&=1J;2Y&s!IB&$MB&%/&V<1&%1&J211$&?>&"2>O&J#$>&V<1&O#&%1&P<1=1O&C12B&1OJ;i22>%1& 1O&<O&R>+#&#&?#&V<1&$1>tqD&5O%21C;$%>=>&'D

5J<>=#2& 21A<12b>& ?<Jd>& J#O%2>& >J#$#& $1_<>?& 1O& %2>O$P#2%1& P/R?;J#D& Z)(& =1& $1P%;10R21& =1& '()^[D& N7$'754 E$%4 L9G'7#$%D& 61J<P12>=#& =1& d%%P$YmmR;%D ?Im'yT=<j2&

p.#$&d>J1O&$1O%;2&V<1&P>2>&1$#&1$%>0#$D&F#2V<1&1O&<O>&Jd;J>&d>I&0<Jd#& 0S$&V<1&?>$&J#$>$&$1_<>?1$&#&?>$&J#$>$&AM$;J>$B&1O%#OJ1${&d>J12&$1O%;2&V<1& 1$#&1$&?#&0S$&;0P#2%>O%1{&O#&1$&0<I&R<1O#qD&5O%21C;$%>=>&HD K5>'*4.'<#-7#$%4)*4%*&+'7)$) p.#&<$#&A>?=>$B&O;&C1$%;=#$B&O;&$d#2%$D&j#&P#2&1$#&O#&C1O"#&>&?>&<O;C12$;=>=& J#O&C1$%;=#$B&O#&P#2V<1&O#&V<;12>B&1$&P#2V<1&?>01O%>R?101O%1&J>$;&$;10P21& <$#&R<$&I&01&=>&0;1=#&O#&??1">2&>&J>$>&P#2&1$#qD&5O%21C;$%>=>&'D pj#&%1O"#&V<1&J#"12&A<12b>$&I&J>0;O>2&?#&0S$&2SP;=#&P#$;R?1&P>2>&$>?;2& I>&=1&1$>&$;%<>J;]O{&P>21J12&%2>OV<;?>&%>0R;iOB&P>2>&O#&=>2?1$&Jd>OJ1& =1&P1O$>2&V<1&%1O"#&0;1=#&#&>$MqD&5O%21C;$%>=>&HD

e<$%#B& 9D& I& 7P>%>2#B& 9D& Z'()L[D& 9;OJ<1O%>& $#0R2>$& =1& ?>& J<?%<2>& 0>$;C>Y& 81$>AM#$&P>2>&?>&J2M%;J>&J<?%<2>?&A10;O;$%>D&C+*1$4K5#7*)$)B&Z'QL[B&))^W )'(D&61J<P12>=#&=1&d%%P$YmmR;%D?Im'K;\2\!& lR$12C>%#2;#&J#O%2>&1?&>J#$#&9d;?1D&Z'()L[D&vx<i&1$&1?&>J#$#&J>??1U12#&Z!79[w& 61J<P12>=#&=1&d%%P$Ymm```D#J>JDJ?mV<1W1$m& l.4&@<U121$D&Z'()\[D&[$#*'42$%4.'59*%$%4'*$27)$)/4E$47&+$2)$)4)*4&G(*'54*(4 E$4L&*()$4_cdc"&61J<P12>=#&=1&&d%%P$YmmR;%D?Im'9JOC?^& F?>O&-O%12O>%;#O>?D&Z\&=1&#J%<R21&=1&'()\[D&5?&>J#$#&J>??1U12#&1$&<O&P2#R?10>& "?#R>?&z5O%2>=>&=1&R?#"|D&61J<P12>=#&=1&d%%P$YmmR;%D?Im'5E:xr@& 61=>JJ;]O&7#J;1=>=D&Z'L&=1&U<O;#&=1&'()^[D&5?&3(~&=1&?#$&>R<$#$&$1_<>?1$& #J<221&1O&1?&%2>O$P#2%1&P/R?;J#D&?24J*2G&'$85D&61J<P12>=#&=1&d%%P$YmmR;%D ?Im'-RA44;&

"*+4)9,5:;/7<=>E=<>7@/A/BC4:D,5:;/87=J=<>7@/0/%-N.+4,S2T*;/F4))C2k/A/F,D42LL2:/oTC)L

&'*%"!&(&!+"

+&


$/)-%"./(!$(-)#$'!"<-8$

()*+,*,-)./0/BI:/(%%%/':7E

+! &'*%"!&(&!+"

F>21JM>&01O%;2>B&P12#&$;10P21&R<$J>R>&2>b#O1$&P>2>&$1O%;2$1&P1#2D&71& ??1O>R>&=1&<O&#2"<??#&1_%2>+#{&E1&"<$%>R>&$>R12&V<1B&P#2&?#&01O#$&J#O& ?>$&P12$#O>$&V<1&$1&2#=1>R>B&O>=;1&?>&d>RM>&%1O;=#&P1#2&V<1&i?D&9?>2#B& %#=#&1O&$<&J>R1b>B&P#2V<1&P21A12M>&0#2;2$1&>O%1$&V<1&d>R?>2&=1&i?&J#O& >?"<;1O&0S$D

#

n o r a p

o r a p o

7;10P21&21P1%M>&1$>$&A2>$1$&%>O&sR>2>%>$tD&p@1&C1#&1O&1?&1$P1U#&I&O#&01& 21J#O#bJ#qB&#&?>&J?S$;J>&%>0R;iOY&px<;$;12>&P#=12&V<121201&?>&0;%>=&=1& ?#&V<1&%/&01&V<;121$&>&0MqD&lRC;#&V<1&J<>O=#&O#&1$%>R>&1O&1$1&955)B& O#$&0#2M>0#$&=1&2;$>&U<O%#$&J#O&?>$&J#$>$&V<1&i?&=1JM>D&7;&>?"#&d>I&V<1& 21J#O#J12&1$&V<1&J>$;&$;10P21&1$%>R>&?;$%#&P>2>&21M2$1&=1&$M&0;$0#D !O%1$&=1&V<1&$1&10#J;#O1O&#&J<>?V<;12&#%2>&J#$>{&O#B&O#&C#I&>&J#O%>2&?>$& %MP;J>$&d;$%#2;>$&R#O;%>$&=1&0;$&21J<12=#$&J#O&i?B&O;&J]0#&O#$&J#O#J;0#$& I&R?>B&R?>D&x<1&$1&0<12>&>?"<;1O&I>&1$&$<A;J;1O%101O%1&0>?#&J#0#&P>2>& V<1& ?>& P12$#O>& V<1& =>& 1?& =;$J<2$#& 01OJ;#O1& J#$>$& %>O{& %2;??>=>$B& v$M& #& V<iw& 4d00B& V<;$;12>& %>0R;iO& =1J;2& V<1& O#& $12M>& ?#& V<1& i?& d<R;1$1& V<12;=#&I{&R<1O#B&?#&P<1=#&=1J;2{&P12#&?>&C12=>=&1$&V<1&O#&01&;0P#2%>& 1O&?#&0S$&0MO;0#&V<i&1$&?#&V<1&e<>O&e#$i&d<R;1$1&V<12;=#D&-"<>?B&J21#& V<1&1$#&O#&1$&%>O&2>2#&=1&=1J;2&1O&1$%1&P<O%#B&vO#wn&p,$%,-$&Y&sF>2#B&O#& P>2#tqB&J#0#&$;10P21&=1JM>&>?&A;O>?&=1&J>>>=>&J####$>D F12#{&?>&C12=>=&1$&V<1&O#&P<1=#&=1J;2&O>=>&=1&1$%#&$;O&21$1O%;0;1O%#& d>J;>&i?D&5$&0S$B&0;1O%2>$&1$J2;RM>&1?&;O;J;#&=1&1$%1&p=;$J<2$#qB&%<C1&V<1& $>?%>201&>?&A;O>?&$#?#&P>2>&>$1"<2>201&V<1&1$%#&$1>&?#&/?%;0#&V<1&=;">& I#&=1&i?D&.#&V<;12#&P120;%;201&21J#2=>2&V<1&O#&?#&C#I&>&>R2>b>2&O<OJ>& 0S$DDDB&#&V<1&i?&O<OJ>&0S$&C>&>&P12=12&0;$&??>C1$&I&=>201&?>$&=1&i?DDDB&#& V<1&?#&0<Jd#&V<1&?#&>0#&1C;%1&V<1&=;">&V<1&O<OJ>&?1&C#I&>&P12=#O>2& 1$%#D&a#I&1$&1?&P2;012&=M>&V<1&=;"#&V<1&?#&#=;#&0S$&=1&?#&V<1&?#&>0#DDD& e<>O&e#$iB&$i&V<1&I>&O#&1$%S$&1$J<Jd>O=#&1$%#B&P12#&%1O"#&V<1&=1J;2?#& 0S$&P#2&0M&V<1&P#2&%;DDD&a#I&1$&1?&P2;012&=M>&=1&0;&C;=>&$;O&%;&I&1$#&1$&?#& P1#2&V<1&01&P<=;$%1&d>R12&d1Jd#D

$:4/$,L/6N+2[44)L/BY,-, 5O& P2#J1$#& =1& %;%<?>J;]O& =1& ?>& J>2212>& 1O& 9#0<O;J>J;]O&!<=;#C;$<>?&I&@<?%;01=;>&=1&?>& N>J<?%>=& =1& 9#0<O;J>J;]O& =1& ?>& 4O;C12$;=>=& 9>$>&:2>O=1&Z49:[D&!J%<>?01O%1&%2>R>U>&J#0#& =;$1+>=#2>&"2SA;J>&1O&1?&:2<P#&lP1OD

"*+4)9,5:;/7J=>E=<>7@/A/BC4:D,5:;/7P=>J=<>7@/0/%-N.+4,S2T*;/F4))C2k/A/F,D42LL2:/oTC)L

& % 0 " $ '


$/)-%"./(!$(-)#$'!"<-8$

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

Estudiantes de Educación cumplieron desafío real con éxito 4O#& =1& ?#$& 0>I#21$& 21%#$& V<1& %;1O1O& ?>$& >?<0O>$& =1& ?>$& J>2212>$& =1& 5=<J>J;]O&-O;J;>?&I&=1&5=<J>J;]O&5$P1J;>?&$#O&?>$&0>%12;>$&=1&E>R#2>%#2;#B& V<1& $#O& =1A;O;=>$& J#0#& 9>$#$& 0S$& 1_%1O$#$& & 1O& ?>$& V<1B& =<2>O%1& J;OJ#& 01$1$B&$1&R<$J>&C;OJ<?>2&?>&%1#2M>&I&?>&P2SJ%;J>&>&%2>Ci$&=1&P2#I1J%#$&R>$>=#$& 1O& J#O%1_%#$& 1=<J>%;C#$& 21>?1$D& 5O& 1$%1& P2#J1$#B& >=10S$B& P<1=1O& =;$1+>2B& >P?;J>2&Im#&1C>?<>2&;OO#C>J;#O1$&#&>=>P%>J;#O1$&J<22;J<?>21$B&A>C#21J;1O=#&>& ?>&J#0<O;=>=&1=<J>%;C>D&

9#0#& P2;012& P>$#B& ?>$& >?<0O>$& d;J;12#O& <O>& ;OC1$%;">J;]O& =1& J>0P#& P>2>& =1%120;O>2& ?>$& O1J1$;=>=1$& RS$;J>$& =1& ?#$& O;+#$& I& 0>1$%2#$B& ?>& =;=SJ%;J>&V<1&?>$&0>1$%2>$&>P?;J>OB&?>&2<%;O>&=;>2;>B&?>&=;$%2;R<J;]O&=1&?#$& 0#R;?;>2;#$&I&?>&#2">O;b>J;]O&=1&?#$&0>%12;>?1$&=1O%2#&=1&?>$&><?>$D&8<2>O%1& 1$%>&A>$1B&$1&?#"2]&1C;=1OJ;>2&J#0#&P2#R?10S%;J>&?>&J>21OJ;>&=1&21J<2$#$& =;=SJ%;J#$B&?>&A>?%>&=1&1$P>J;#B&1?&>$1#&=1?&$>?]OB&?>&=1$#2">O;b>J;]O&=1&?>$& %>21>$&=1&?#$&O;+#$B&?>&>J/$%;J>&=1?&$>?]OB&1O%21&#%2>$D&&

8<2>O%1& 1?& $101$%21& 1O%21& >"#$%#& I& =;J;10R21& =1?& '()\B& ?>$& >?<0O>$& =1& $1"<O=#&>+#&=1&?>$&J>2212>$&=1&5=<J>J;]O&$1&C;OJ<?>2#O&J#O&?>&A<O=>J;]O& j#<O"&E;C;O"&5J<>=#2&I&J#O&$<&<O;=>=&1=<J>%;C>&j#<O"&E;C;O"&!J>=10ID&E>& #2">O;b>J;]O&$#?;J;%]&>&?>$&1$%<=;>O%1$&V<1&21=;$1+1O&?>$&><?>$&=1&?>$&$1JJ;#O1$& =1&-O;J;>?&--&I&F2;012&>+#&=1&5=<J>J;]O&:1O12>?&TS$;J>B&P>2%;1O=#&=1?&0#=1?#& P1=>"]";J#&=1&?>&;O$%;%<J;]O&I&=1&<O&>OS?;$;$&=1&?>$&O1J1$;=>=1$&=1?&>?<0O>=#& I& 0>1$%2>$& =1& ?>$& J?>$1$& ;OC#?<J2>=>$D& 5$%1& P1=;=#& =1RM>& J#O$;=12>2& >& ?#$& O;+#$&J#O&J>P>J;=>=1$&1$P1J;>?1$&P>2>&<O>&>=1J<>=>&;OJ?<$;]OD

!&2>Mb&=1&1$%#$&21$<?%>=#$B&?>$&1$%<=;>O%1$&P2#P<$;12#OY&>=V<;2;2&0>%12;>?& =;=SJ%;J#& P>2>& J>=>& <O#& =1& ?#$& >?<0O#$BB& 21<R;J>2& 1?& 0#R;?;>2;#& P>2>& <O& <$#& 0S$& 1A;J;1O%1& =1?& 1$P>J;#& AM$;J#B& P120;%;1O=#& J21>2& 2;OJ#O1$n& J#O$%2<;2& <O>& P>21=& P>2>& =;C;=;2& ?#$& $>?#O1$& =1& -O;J;>?& I& TS$;J>B& I& >$MB& >&?>&C1bB&01U#2>2&?>&>J/$%;J>&=1&?>&J?>$1n&P;O%>2&?>$&P>21=1$&J#O&J#?#21$& V<1& %2>O$0;%>O& %2>OV<;?;=>=& I& A>C#21bJ>O& ?>& ;?<0;O>J;]O& =1?& $>?]On& 1& ;0P?101O%>2&?>&01%#=#?#"M>&=1&2;OJ#O1$&=#O=1B&01=;>O%1&1?&U<1"#B&$1& A#01O%1&1?&>P21O=;b>U1&J#?>R#2>%;C#D&

"*+4)9,5:;/7J=><=<>7@/A/BC4:D,5:;/<<=>8=<>7@/0/F:+:.;/S:4+).K,/5)/-,/,N+:4,

0&')'32(.4%*("( /.,0#(55'))'

+'


()*+,*,-)./0/BI:/(%%%/':7E

$ / ) - % " . / ( ! $ ( - ) # $ ' ! " < - 8 $ +( ?>&01%#=#?#"M>&=1&?#$&2;OJ#O1$&A<O=>01O%>=>&1O&?>&P1=>"#"M>&=1& N2 1R1?&Z)\H^[&I&?>&%1#2M>&=1&?>$&;O%1?;"1OJ;>$&0/?%;P?1$&=1&:>2=O12& Z)**H[D& 9>R1& 01OJ;#O>2& V<1& ?#$& 1$%<=;>O%1$& =1& ?>& 49:& 1?;";12#O& R>$>2$1& 1O& ?#$& 0i%#=#$& =1& =;Jd#$& ><%#21$& =1R;=#& V<1B& =1& 1$%1& 0#=#B&$1&>I<=>2S&>?&>?<0O>=#&=1&?>&1$J<1?>&1O&1?&=1$>22#??#&=1&$<$& d>R;?;=>=1$B&=1$%21b>$&I&J#0P1%1OJ;>$B&P>2>&V<1&>$M&J#O$%2<I>O&$<$& P2#P;#$&J#O#J;0;1O%#$&ZT1O;%#B&'()Q[D

E>$& >?<0O>$& =1& ?>& 49:& k=1& V<;1O1$& A<;& $<& %<%#2>& >J>=i0;J>& =1& E>R#2>%#2;#& 1O& 1?& P2#J1$#k& P21$1O%>2#O& >& j#<O"& E;C;O"& 5J<>=#2& I& 21P21$1O%>O%1$& =1& $<& <O;=>=& 1=<J>%;C>& ?#$& 21$<?%>=#$& #R%1O;=#$& =<2>O%1&1?&$#O=1#&;O;J;>?&I&?>&P2#P<1$%>&=1&01U#2>$B&V<1&A<1&>P2#R>=>& 1O&$<&%#%>?;=>=D&E>&=;21J%;C>&=1&?>&A<O=>J;]O&I&=1&?>&1$J<1?>&$1&0#$%2]& $#2P21O=;=>&P#2&?>&P2#A<O=;=>=&=1&J#0P21O$;]O&=1&?>&$;%<>J;]O&>J%<>?& V<1&=10#$%2>2#O&?#$&1$%<=;>O%1$&=1&?>&49:&k=1R;=#&>&V<1&1$%>R>O&1O& $<&$1"<O=#&>+#&=1&J>2212>kB&I&P#2&?>$&$#?<J;#O1$&R2;O=>=>$&>O%1&?>$& O1J1$;=>=1$&=1&?#$&1$%<=;>O%1$&I&$<$&0>1$%2#$D 9#O&<O>&P2#P<1$%>&%>O&>0R;J;#$>B&<O#&=1&?#$&=1$>AM#$&0S$&"2>O=1$&12>& J#O$1"<;2&?#$&A#O=#$&O1J1$>2;#$&P>2>&>=1J<>2&?>$&;O$%>?>J;#O1$B&I>&V<1&?>& #2">O;b>J;]O&O#&J#O%>R>&J#O&?#$&21J<2$#$&O1J1$>2;#$&P>2>&21>?;b>2&J>0R;#$& 1O&$<&;OA2>1$%2<J%<2>&#&P>2>&?>&>=V<;$;J;]O&=1&21J<2$#$&=;=SJ%;J#$D& !O%1&1$%1&P2#R?10S%;J>&?>$&>?<0O>$&21>?;b>2#O&C>2;>$&>J%;C;=>=1$&P>2>& ?#"2>2& 1?& A;O>OJ;>0;1O%#B& %>?1$& J#0#& <O>& A12;>& =1& J#0;=>B& C1O%>& =1& =<?J1$&I&R;O"#$D&9#O&?#$&A#O=#$&21J><=>=#$&$1&>=V<;2;12#O&0>%12;>?1$& =;=SJ%;J#$& 1& ;O$%2<01O%#$& =1& >$1#B& $1& 1?>R#2]& O<1C#& 0#R;?;>2;#& I& $1& 21>?;b]& 0>O%1O;0;1O%#& I& 21>=1J<>J;#O1$& >?& V<1& I>& 1$%>R>& 1O& ?#$& $>?#O1$n&I&$1&J#0P2]&<O&P2#I1J%#2&=1&J#0P<%>=#2>&I&#%2#$&0>%12;>?1$& =1&<$#&=;>2;#D 81$P<i$& =1& ?>& ;0P?101O%>J;]O& =1& ?>$& 01U#2>$& 1O& ?#$& $>?#O1$& =1& J?>$1$B&$1&??1C]&>&J>R#&<O>&J>P>J;%>J;]O&>&?>$&0>1$%2>$D&71&1$%>R?1J;]&

E>& 1_P12;1OJ;>& J#OJ?<I]& J#O& <O& >J%#& =1& ;O><"<2>J;]OB& >?& V<1& >$;$%;12#O& ?#$& P>=21$& =1& A>0;?;>B& O;+#$& I& 0>1$%2>$& =1& ?#$& $>?#O1$& ;OC#?<J2>=#$n& >=10S$B& $1& 1_%1O=;]& ?>& ;OC;%>J;]O& >& ?>& J#0<O;=>=& 1O&"1O12>?B&V<;1O1$&>"2>=1J;12#O&>&?>$&>?<0O>$&=1&?>&49:&P#2&1?& %2>R>U#& 21>?;b>=#D& N<1& <O>& 1_P12;1OJ;>& 1O2;V<1J1=#2>& %>O%#& P>2>& O<1$%2#$& 1$%<=;>O%1$& J#0#& P>2>& ?>& J#0<O;=>=& ;OC#?<J2>=>D& E#$& 1$%<=;>O%1$& =1& ?>& 49:& ?#"2>2#O& J#0P21O=12& ?>& ;0P#2%>OJ;>& =1?& =;$1+#&=1&>0R;1O%1$&=1&>P21O=;b>U1&I&$<&21?>J;]O&J#O&1?&>P21O=;b>U1D &)&

4O&9>$#&1O&?>&49:&%;1O1&<O>&=<2>J;]O&=1&0S_;0#&=#$&$10>O>$D&

,KUKHKIGQ8: T1O;%#B&:D&Z'()Q[D&3'5.+*%-$4)*4$#-717)$)*%4.$'$4*24)*%$''52254)*47(-*27&*(#7$%4 9b2-7.2*%4Z%2>R>U#&=1&"2>=#[B&4O;C12$;=>=&=1&E>&6;#U>B&E>&6;#U>B&5$P>+>D&

$:4/G,4K,/6,D42)-,/M,-2@>"M$%12& 1O& :121OJ;>& I& E;=12>b"#& 5=<J>J;#O>?& =1& ?>& 4O;C12$;=>=& ciJO;J>& F>2%;J<?>2& =1& E#U>D& E;J1OJ;>=>& 1O& 9;1OJ;>$& =1& ?>& 5=<J>J;]O& -O;J;>?& =1& ?>& 4O;C12$;=>=& 9>$>& :2>O=1& Z49:[D& 8#J1O%1& =1&?>&N>J<?%>=&=1&5J#?#"M>&a<0>O>B&5=<J>J;]O&I& 81$>22#??#&=1&?>&49:D

0&')'32(.4%*("( /.,0#(55'))'

5O&1$1&$1O%;=#B&$1&1$%>R?1J;12#O&?#$&2;OJ#O1$&=1&J#O$%2<JJ;]OB&?1J%<2>B& >$1#&I&=2>0>%;b>J;]OD&!&$<&C1bB&$1&1V<;P]&J>=>&$>?]O&J#O&1?&0>%12;>?& =;=SJ%;J#&O1J1$>2;#&P>2>&J>=>&O;+#&I&$1&1?>R#2]B&1O&J#OU<O%#&J#O&?>& 0>1$%2>B&?>&=1J#2>J;]O&I&211$%2<J%<2>J;]O&=1&?>$&><?>$D&


" ) ( . " ! "*)

5O& 1?& P12M#=#& =1& $1P%;10R21W=;J;10R21& =1?& '()\B& P>2>& ?>& 0>%12;>& p9>P>J;%>J;]O& I& =1$>22#??#& =1& 61J<2$#$& a<0>O#$qB& =;J%>=>& P#2& ?>& P2#A1$#2>&81O;$$1&Ä?C>21bB&)\&1$%<=;>O%1$&=1&?>&J>2212>&=1&:1$%;]O&=1& 61J<2$#$&a<0>O#$&21>?;b>0#$&J>P>J;%>J;#O1$&>&P1V<1+>$&I&01=;>O>$& 10P21$>$&ZPI01$[&=1&:<>I>V<;?D&.#$&=;C;=;0#$&1O&$1;$&"2<P#$&=1&%21$& 1$%<=;>O%1$&J>=>&<O#D & 5$%1&P2#I1J%#&O>J1&P#2&?>&A>?%>&=1&<O&P?>O&=1&J>P>J;%>J;]O&I&=1$>22#??#& P>2>& ?#$& J#?>R#2>=#21$& P12%1O1J;1O%1$& >& PI01$B& %1O;1O=#& 1O& J<1O%>& V<1&1?&*(BL~&=1&?>$&J#0P>+M>$&1J<>%#2;>O>$&$#O&0;J2#10P21$>$&Z-.59B& '()^[B&1O&?>$&V<1&$1&P21$1O%>&P#2&;"<>?&1$%>&P2#R?10S%;J>D

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

81& 1$%1& 0#=#B& ?#$& 1$%<=;>O%1$& I& ?>& =#J1O%1& O#$& P2#P<$;0#$& R<$J>2& PI01$&>&$12&J>P>J;%>=>$D&E>$&1%>P>$&=1?&P2#I1J%#&=1&A#20>J;]O&A<12#O& 1?>R#2>=>$& R>U#& 1?& 0#=1?#& !88-5B& V<1& P?>O%1>& J;OJ#& A>$1$& P>2>& ?>& J#O$%2<JJ;]O&=1&<O&$;$%10>&=1&=;$1+#&1=<J>J;#O>?B&V<1&$#OY&>O>?;b>2B& =;$1+>2B&=1$>22#??>2B&;0P?101O%>2&I&1C>?<>2D 5O%21& ?>$& 10P21$>$& V<1& 1?1";0#$& 1$%<C;12#OY& 7>O%#& T#J>=#B& 712P2#A10P$>B&E<Jdc;01B&N<O=>J;]O&!JJ;]O&7#?;=>2;>B&:?#R5J<>=#2&I& 9##?& 9#O1_;#OD& E<1"#& =1& V<1& J>=>& "2<P#& 1?;";]& $<& PI01B& d>R?>0#$& J#O& J>=>& =<1+#& #& "121O%1B& J#O& 1?& A;O& =1& J#O#J12& J<S?1$& 12>O& ?>$& P2#R?10S%;J>$&=1&1$%>$&J#0P>+M>$D&9#0#&$;"<;1O%1&P>$#B&J>=>&1V<;P#& =1RM>&J21>2&<O&=;$1+#&=1&J>P>J;%>J;]O&C;>R?1&P>2>&?>&PI01&V<1&?1&d>RM>& %#J>=#D&N;O>?01O%1B&>&A;O>?1$&=1&O#C;10R21&;O;J;>0#$&?>$&J>P>J;%>J;#O1$& J#O&1?&>P#I#&=1&O<1$%2>&P2#A1$#2>D&F>2>&%#=#$B&?>&>J%;C;=>=&A<1&<O>& O<1C>&1_P12;1OJ;>D&5$%SR>0#$&O12C;#$#$B&I>&V<1&$;1O=#&O#C>%#$&O#$& d>RM>O&=>=#&1?&21%#&=1&J>P>J;%>2&>&P2#A1$;#O>?1$D& 5O&=;J;10R21B&%2>$&J<0P?;2&?>&01%>B&J>=>&1V<;P#&P21$1O%]&<O&C;=1#&>O%1& 1?&21$%#&=1&?>&J?>$1&$#R21&?#&V<1&d>RM>&d1Jd#&1O&$<&=M>&=1&A#20>J;]OD& c#=>$&?>$&J>P>J;%>J;#O1$&d>RM>O&21$<?%>=#&1_;%#$>$n&J?>2#B&J#O&%2#P;1b#$& I&122#21$&1O&1?&P2#J1$#B&P12#&%#=#$&?#$&"2<P#$&d>RM>O&$<P12>=#&1?&21%#& V<1&$1&O#$&;0P<$#&1O&#J%<R21&=1&'()\D& :2>J;>$&>&1$%1&P2#I1J%#&J#0P21O=M&V<1B&><OV<1&>?"<;1O&$1>&O#C>%>B& 1$&J>P>b&=1&>$<0;2&<O>&21$P#O$>R;?;=>=&I&<O&"2>O&21%#B&J>P>J;%>O=#&>& P12$#O>$&=1&0>I#2&2>O"#B&RLK:%K:K%RH4UK:Q4I8O%dLK%:K%U4HS8%RLKJK% :KH%JK%S8T4H%IQYKO[%RKH4%I4%O4%:8WK%;4J45&a>I&V<1&1$%>2&1O&J#O$%>O%1& >P21O=;b>U1B& I& 1$& C;%>?& 21>?;b>2& J<2$#$& =1& >P#I#& V<1& A#2%>?1bJ>O& >/O& 0S$&O<1$%2>&J>2212>&1?1";=>D ,KUKHKIGQ8: &

-.59D& Z'()^[D& 5J<>=#2& 21";$%2]& \3HD^3L& 10P21$>$& 1O& '()Q& z5O%2>=>& =1& R?#"|D&& 61J<P12>=#&=1&d%%P$YmmR;%D?Im'-*)*02&

$:4/6,D42)-,/QN]N)/n44,-, 5$%<=;>O%1&=1&%12J12&>+#&=1&?>&J>2212>&=1&:1$%;]O& 1O&61J<2$#$&a<0>O#$&=1&?>&N>J<?%>=&=1&5J#?#"M>& a<0>O>B&:1$%;]O&I&81$>22#??#&=1&?>&4O;C12$;=>=& 9>$>&:2>O=1&Z49:[D

"*+4)9,5:;/<7=>8=<>7@/A/BC4:D,5:;/>8=>E=<>7@/0/F:+:;/S:4+).K,/5)/Q)*2..)/r-3,4)L

& " % $ ! " !"#

%>?>@AB>@ACD(?>E>(FGHA?I(JF(KFDB>L(FD(HD>(JALBEAMHAJIE>(>HBIEAN>J>(JF(2HFDBA($@H>JIE

$/)-%"./(!$(-)#$'!"<-8$

0&')'32(.4%*("( /.,0#(55'))'

$#


3

)

!

$/)-%"./(!$(-)#$'!"<-8$

(

!"#$%&$'("#$')'*+!, 5O&1$%#$&P#J#$&>+#$&=1&J21>=>&?>&0>2J>&:E-!&ZA1R212#&=1?&'()^[B&d10#$&21J#22;=#& 0<Jd#$&d;%#$&;0P#2%>O%1$B&P12#&1O&1$%1&1$P>J;#&J#01O%>210#$&$#R21&O<1$%2>& >?;>Ob>&J#O&?>&5$J<1?>&=1&!=0;O;$%2>J;]O&=1&.1"#J;#$&P>2>&:2>=<>=#$&Z57!.[&D 5O&1?&>+#&'()*&&O#$&P2#P<$;0#$&>R2;2&<O>&=;C;$;]O&1U1J<%;C>&=1O%2#&=1&:E-!B& P#2&?#&V<1&1?&''&=1&1O12#&A<;0#$&>&F12/B&=#O=1B&U<O%#&>?&=#J%#2&e#2"1&c>?>C12>B& 21J%#2&=1&?>&4O;C12$;=>=&57!.B&I&!O>&61S%1"<;B&=;21J%#2>&=1&5_1J<%;C1&5=<J>%;#O& =1&57!.B&;O;J;>0#$&<O>&21?>J;]O&=1&J#?>R#2>J;]O&>J>=i0;J>B&V<1&P>2>&1??#$&d>& $;"O;A;J>=#&$<&1_P>O$;]O&>?&5J<>=#2B&I&P>2>&O#$#%2#$B&;O><"<2>2&O<1$%2>&=;C;$;]O& 1U1J<%;C>B&>=10S$&=1&?>&#P#2%<O;=>=&=1&#A12%>2&>&?>$&10P21$>$&I&1U1J<%;C#$&1O& 1$%1&P>M$&?>&P#$;R;?;=>=&=1&<O&=1$>22#??#&=1&>?%#&O;C1?D

5$%1&J#OC1O;#&O#$&R2;O=>2S&?>&#P#2%<O;=>=&=1&;OJ<2$;#O>2&1O&%10>$&=;A121O%1$& I&1$P1J;>?;b>=#$B&%>?1$&J#0#Y&N*%7&(4J,7(V7(&&P>2>&?>&-OO#C>J;]OB&@;O12M>&=1& 8>%#$&I&@#=1?>0;1O%#&F21=;J%;C#&P>2>&?>&c#0>&=1&81J;$;#O1$B&K+..2=4B,$7(4 @$($&*9*(-4=4A*-$724@$($&*9*(-D & 5?& 'L& =1& >R2;?& =1& '()*& #A21J;0#$& 1O& :<>I>V<;?& <O>& J#OA121OJ;>& $#R21& ;OO#C>J;]OB& =SO=#?1& <O& 1OA#V<1& =1& J21>J;]O& =1& J<?%<2>& 1O& ?>$& J#0P>+M>$D& !J<=;12#O&?>$&P2;OJ;P>?1$&10P21$>$&O>J;#O>?1$&I&0<?%;O>J;#O>?1$&I&P<=;0#$& J#0P>2%;2&J#O&1??>$&1$%#$&J#OJ1P%#$B&I>&V<1&?>&;OO#C>J;]O&$1&d>&J#OC12%;=#&1O& <O&%10>&=1&J#OC12$>J;]O&I&=1&>JJ;#O1$&1O&1?&P>M$D&F21C;>01O%1B&1?&1_>?J>?=1& =1&:<>I>V<;?B&e>;01&.1R#%B&;O%1"2]&<O&J#0;%i&J#O&?#$&%21$&>J%#21$&O1J1$>2;#$& P>2>&V<1&?>&;OO#C>J;]O&A<OJ;#O1Y&5$%>=#B&>J>=10;>&I&10P21$>&P2;C>=>D 5O& <O>& 1OJ<1$%>& 21>?;b>=>& >& )QL& J;<=>=1$& $#R21& ?>& ;OO#C>J;]OB& :<>I>V<;?& V<1=]&1O&1?&P<1$%#&)L(B&P12#&$1&1OJ<1O%2>&%2>R>U>O=#&P>2>&J#OC12%;2$1&1O& <O>&J;<=>=&=1&C>O"<>2=;>B&?#&V<1&O#$&P2#=<J1&"2>O&1_P1J%>%;C>&I&O#$&;0P<?$>& >&J#O%;O<>2&1O&<O&J>0;O#&=1?&P2#"21$#&J#0#&10P21$>B&J;<=>=&I&P>M$D

M!-%@-%nA/A )D&N;20>&=1?&J#OC1O;#&:E-!W57!.D&81&;bV<;12=>&>&=121Jd>Y&@>2M>&!O=21>&7122>O#B& 8;21J%#2>&=1&:E-!n&e#2"1&c>?>R12>B&61J%#2&=1&57!.&:2>=<>%1&7Jd##?&lA&T<$;O1$$n& 9>2;=>=& !2#$101O>B& !$1$#2>& =1& :E-!n& I& !O>& 61>%1"<;B& 8;21J%#2>& 5_1J<%;C1& 5=<J>%;#O&57!.D

)&

57!.&ZE;0>WF12/[&1$&?>&P2;012>&;O$%;%<J;]O&>J>=i0;J>&=1&P#$"2>=#&1O&!=0;O;$%2>J;]O&J21>=>& 1O& a;$P>O#>0i2;J>D& N<1& 1$%>R?1J;=>& 1?& 'L& =1& U<?;#& =1& )*QH& 1O& 1?& 0>2J#& =1& <O& J#OC1O;#& 1O%21&?#$&"#R;12O#$&=1?&F12/&I&?#$&5$%>=#$&4O;=#$&=1&!0i2;J>&I&$<&#2">O;b>J;]On&?>&P<1$%>& 1O& 0>2Jd>& A<1& J#OA;>=>& >& ?>& 5$J<1?>& =1& .1"#J;#$& P>2>& :2>=<>=#$& =1& ?>& 4O;C12$;=>=& =1& 7%>OA#2=B&9>?;A#2O;>D&N<1&%2>O$A#20>=>&1O&<O;C12$;=>=&1?&)'&=1&U<?;#&=1&'((H&ZE1I&.Ã…&'\(')[D& a#I&#A21J1&0>1$%2M>$&1O&!=0;O;$%2>J;]OB&>$M&J#0#&P#$"2>=#$&1$P1J;>?;b>=#$&1O&l2">O;b>J;]O& I& 8;21JJ;]O& =1& F12$#O>$n& K+..2=4B,$7(4@$($&*9*(-64@$'V*-7(&64:121OJ;>& =1& 712C;J;#$& =1& 7>?<=B& :1$%;]O& I& 81$>22#??#& -O0#R;?;>2;#n& 3'5U*#-4 @$($&*9*(-6& 8;21JJ;]O& =1& c1JO#?#"M>$& =1&-OA#20>J;]OB&N;O>Ob>$&I&8121Jd#&9#2P#2>%;C#n&I&N;O>Ob>$n&O<1C1&J>2212>$&=1&P21"2>=#B& >=10S$&=1&P2#"2>0>$&P>2>&1U1J<%;C#$&1O&=;C12$#$&A#20>%#$B&P2#"2>0>$&J#2P#2>%;C#$&I&#%2#$& $12C;J;#$&>J>=i0;J#$&I&P2#A1$;#O>?1$D&57!.&1$&<O>&;O$%;%<J;]O&=1&>?J>OJ1&;O%12O>J;#O>?&I&$;O& A;O1$&=1&?<J2#B&J#O&><%#O#0M>&>J>=i0;J>&I&=1&"1$%;]O&Zd%%P$Ymm```D1$>OD1=<DP1m>J12J>W=1m[D

a>I&0<Jd>$&1$J<1?>$&=1&O1"#J;#$&>&O;C1?&0<O=;>?B&P12#&O<1$%2>&$1?1JJ;]O&$1& R>$>&1O&J<>%2#&2>b#O1$&;0P#2%>O%1$Y& &}& 57!.&:2>=<>%1&7Jd##?&#A&T<$;O1$$&A<1&J21>=>&P#2&7%>O=A#2=&4O;C12$;%I&P>2>& >P#I>2&>&E>%;O#>0i2;J>&1O&$<&=1$>22#??#n&1$%>&/?%;0>&1$&J#O$;=12>=>&<O>&=1& ?>$&J;OJ#&01U#21$&<O;C12$;=>=1$&=1?&0<O=#B&=1P1O=;1O=#&=1&?>&1$P1J;>?;=>=D }&c;1O1&L(&>+#$&1O&1?&S21>&=1&?>&1=<J>J;]O&P>2>&?#$&O1"#J;#$D& }&!J%<>?01O%1&1$&?>&;O$%;%<J;]O&0S$&21V<12;=>&P#2&?#$&1U1J<%;C#$&1O&F12/B& J<I#&P2#"2>0>&=1&@T!&#J<P>&?#$&P2;012#$&?<">21$&1O&E>%;O#>0i2;J>B& $1"/O&1?&x7&:?#R>?&@T!&A$(V7(&4'()\D& }&E>& J12J>OM>& I& $;0;?;%<=& 1O%21& 1$%#$& =#$& P>M$1$& ZF12/& I& 5J<>=#2[& O#$& A>C#21J1&1O&?#$&9>$#$&=1&.1"#J;#$&I&1$%<=;#$&1O&"1O12>?D&

$:4/#,425,5/B4:.)R)*, @>$%12&1O&9#0<O;J>J;]O&=1?&-O$%;%<%#&ciJO;J#&=1&5$%<=;#$&!P?;J>=#$&Z5$P>+>[D& E;J1OJ;>=>& 1O& 9;1OJ;>$& =1& ?>& 5=<J>J;]O& =1& ?>& 4O;C12$;=>=& E>;J>& ,;J1O%1& 6#J>A<12%1D& 8;P?#0>=#& 1O& 61J<2$#$& a<0>O#$& J#O& 1?& >C>?& =1& ?>& 4O;C12$;=>=& 9>%]?;J>& =1& :<>I>V<;?B& 8;P?#0>=#& 1O& 8;21JJ;]O& =1& 50P21$>$& 1O& 1?& c59& =1& @#O%1221ID& F2#A1$;#O>?& =1=;J>=>& >?& =1$>22#??#& d<0>O#& J#0#& 8;21J%#2>& =1& 61J<2$#$& a<0>O#$& 1O& ;O$%;%<J;#O1$& R>OJ>2;>$B& =1& $12C;J;#$& 1& ;O=<$%2;>?1$D& N<O=>=#2>& =1& -85F6lB& J1O%2#& =1& J>P>J;%>J;]O& 10P21$>2;>?& =1& ?>& 9S0>2>& =1& 9#012J;#&=1&:<>I>V<;?D&N<O=>=#2>&=1&:E-!B&91O%2#&=1&5=<J>J;]O&9#2P#2>%;C>&I& F2#I1J%#$B&P12%1O1J;1O%1&>&?>&N<O=>J;]O&-OO#C>J;]O&I&81$>22#??#B&J#O&1?&>C>?&=1& ?>&4O;C12$;=>=&9>$>&:2>O=1D

0,%&(&!+". &'"$2"%(

5O&1?&0>2J#&=1&1$%>&>?;>Ob>B&57!.&$1?1JJ;#O>2S&?#$&=#J1O%1$&I&J#OA121OJ;$%>$& ;O%12O>J;#O>?1$B&>P#2%>2S&J#O&J#O%1O;=#$&;O$%2<JJ;#O>?1$B&>$M&J#0#&1?&=;P?#0>& V<1&21J;R;2SO&?#$&P>2%;J;P>O%1$B&#R%1O;1O=#&?#$&>?<0O#$&=#R?1&J12%;A;J>J;]O&=1& P>2%1&=1&57!.&I&:E-!m4O;C12$;=>=&9>$>&:2>O=1D

$"

"*+4)9,5:;/<P=>E=<>7@/A/BC4:D,5:;/<P=>J=<>7@/0/F:+:;/S:4+).K,/5)/6-2,

()*+,*,-)./0/BI:/(%%%/':7E


$)

$/2*!". 3

)

!

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

(

V H Q R L ÁH[

D O H U VRE

" ' ! & % $

# " !"

5H

0,%&(&!+" &'"$!"%(

"*+4)32.+,/C:4/"*42]N)/!:m,. @>"M$%12&1O&5=<J>J;]O&7<P12;#2&J#O&01OJ;]O&1O&%10>$& J#O%10P#2SO1#$& =1& 1=<J>J;]O& =1& ?>& 4O;C12$;=>=& 9>$>& :2>O=1&Z49:[D&912%;A;J>J;]O&-O%12O>J;#O>?&1O&712C;J;#&>?& 9?;1O%1&=1&712C;J1&x<>?;%I&-O$%;%<%1D&9#A<O=>=#2&=1&F>P12& 5J&I&cd1&9d>O"1&E>RD&9#?<0O;$%>&=1&#P;O;]O&1O&%10>$&=1& J#0<O;J>J;]O&I&1=<J>J;]O&1O&=;>2;#&5?&4O;C12$#D&8#J1O%1& 1O&49:D

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

0I;K%LI%K:GKI8HQ4%:4GQ8O%T%G4SKHGQ8O%QIGQKH;4%KI%R8X:K:%G4S4%KO% ILK:;H4[%O8%QII4Y8GQ\I%KSRHK:8HQ8O%P4T[%iK:%LI8%IKGK:QJ8J%4%LI8% YKI;8b8%G4SRK;Q;QY8j 5$&?>&J#O$1J<1OJ;>&=1&%1O12&<O>&#2">O;b>J;]O&1OA#J>=>&1O&1?&<$<>2;#& V<1&2#0P1&?#$&P>2>=;"0>$&=1&$<&;O=<$%2;>&I&1U1J<%>&$<$&P2#I1J%#$&=1& A#20>&S";?&I&J#?>R#2>%;C>D&E>&;OO#C>J;]O&"1O12>&C1O%>U>$&J#0P1%;%;C>$& J#O& P2#P<1$%>$& =;$2<P%;C>$D& c1O12& <O>& 10P21$>& J#O& <O>& J<?%<2>& =1& ;OO#C>J;]O&;OJ#2P#2>=>&"1O12>&C1O%>U>&A21O%1&>&#%2>$D& iCLZ%;8I%YQ8WOK%K:%;H8I:U4HS8H%KSRHK:8:%dLK%P8I%:QJ4% ;H8JQGQ4I8OSKI;K%G4I:KHY8J4H8:j 5$& P2#P;#& =1?& $12& d<0>O#& %1O12& J>P>J;=>=1$& J21>%;C>$D& E#& V<1& O1J1$;%>0#$&1O&<O>&#2">O;b>J;]O&1$&10P#=12>2&1$>&d>R;?;=>=&J21>%;C>& I& ??1C>2?>& >& 1U1J<J;]OD& F>2>& 1??#B& =1R10#$& ;OJ#2P#2>2& >& %#=#$& ?#$& J#?>R#2>=#21$B&J#O&?>&0#%;C>J;]O&I&?>$&d122>0;1O%>$&O1J1$>2;>$D 1LGP8:%KSRHK:8:%dLQKHKI%QII4Y8H[%:QI%KSW8H94[%I4%;QKIKI%GO8H4% R4H%J\IJK%QIQGQ8H[%idLZ%OK:%HKG4SKIJ8HX8j

"*+4)9,5:;/77=>?=<>7@/A/BC4:D,5:;/7<=>?=<>7@/0/F:+:.;/S:4+).K,/5)/Q,325/',5)4

(QWUHYLVWD D 0JWU )DELiQ %XHQR 0pQGH] (6$1


$/2*!".

()*+,*,-)./0/BI:/(%%%/':7E

5?>R#2>2&<O>&d#U>&=1&2<%>B&V<1&O>J1&=1&?>&C;$;]O& =1&?>&10P21$>B&=1&?#$&P2#R?10>$&P#2&21$#?C12& ZP2#I1J%#$[&I&=1?&=1$>22#??#&=1&?>&J<?%<2>&=1& ;OO#C>J;]OD& 5O& %#=#& 1$%#& $1& O1J1$;%>& V<1& ?>& "121OJ;>& "1O12>?& $1& ;OC#?<J21B& =1$%;O>O=#& 21J<2$#$B& =1$J<R2;1O=#& I& 10P#=12>O=#& >& ?#$&>=#P%>=#21$&%10P2>O#$&=1&?>&;OO#C>J;]O& I& =1A;O;1O=#& 0i%2;J>$& V<1& J#O1J%1O& J#O& ?>& 1$%2>%1";>&=1&;OO#C>J;]OD i28% QII4Y8GQ\I% JKWK% :KH% KI:K38J8% JK:JK% LI%S8HG4%;K\HQG4%dLK%RKHSQ;8%G4SRHKIJKH% T%KbKGL;8H[%4%HKG4SQKIJ8%G4IGKI;H8H:K%KI%O8% 8ROQG8GQ\I[%U8Y4HKGQKIJ4%O8%QSROKSKI;8GQ\I% JK%;ZGIQG8:%T%RH4GK:4:%GHK8;QY4:j E>$& d>R;?;=>=1$& =1& ;OO#C>J;]O& $1& =1$>22#??>O& J#O&dSR;%#$B&I&1$%#$&$1&"1O12>O&J#O&?>&1U1J<J;]OD& E#$& P2#J1$#$& =1& ;OO#C>J;]O& O1J1$;%>O& <O& 1$P>J;#& =1& 1U1J<J;]OB& 1_P12;01O%>J;]O& I& >P21O=;b>U1&J#O%;O<#D&5?&0>2J#&%1]2;J#&P<1=1& P120;%;2& 1O%1O=12& <O& P<O%#& =1& C;$%>& ;O;J;>?& V<1B&$;O&=<=>B&J>0R;>2S&I&$1&>=>P%>2S&$1"/O&?>& J<?%<2>&P2#P;>&=1&J>=>&#2">O;b>J;]OD

5O& ?>$& 10P21$>$& 1_;$%1O& =#$& R>2212>$D& 5O& P2;012&?<">2B&1?&%;10P#&=1&?#$&J#?>R#2>=#21$B& V<1& 1$%S& =1%120;O>=#& P#2& 0i%2;J>$& =1& 1A;J;1OJ;>& =1$J#O1J%>=>$& =1& ?>$& 0i%2;J>$& =1& ;OO#C>J;]OB&?#&J<>?&>A1J%>&?>&1_P12;01O%>J;]O&I& >P21O=;b>U1D&5$%#&$1&21$<1?C1&P120;%;1O=#&V<1& 1?&P>2%;J;P>O%1&=1$J<R2>&V<1&?>&01%#=#?#"M>& $;2C1& P>2>& P2#I1J%#$& =1& ;OO#C>J;]O& I& P>2>& 21$#?C12&J<>?V<;12&%;P#&=1&P2#R?10>D E>& $1"<O=>& R>2212>& $<2"1& ?<1"#& =1& C;C;2& ?>& 1_P12;1OJ;>D& E#$& P>2%;J;P>O%1$& $>?1O& J#O&

}& 28% SKb4H% QJK8% JK% QII4Y8GQ\I% dLK% P8% K:GLGP8J4$&paIP12?##PqY&C;>U>2&=1&E;0>&>& :<>I>V<;?&1O&=#$&d#2>$B&$;O&<$>2&<O&>C;]OD }& & >I8% QJK8% QII4Y8J4H8% R8H8% KYQ;8H% O8% &%*!(/,"-(!"7-Y& pF;O& P2#J>$%;O>=#2qY& <$>& ;O%1?;"1OJ;>& >2%;A;J;>?& P>2>& 1C>?<>2& %<& 0#01O%#& P2#J>$%;O>=#2& I& %1& 1OCM>& >?12%>$&s=1$1$P12>O%1$t&P>2>&V<1&>J%/1$D }& iCLZ%RKH:4I8bK%JK%O8%PQ:;4HQ8[%:Q%YQYQKH8% P4T[% :KHX8% LI% 9H8I% QII4Y8J4H% T% R4H% dLZj$%8>&,;OJ;B&P#2V<1&1U12JM>&P2#A1$;#O1$& J#O%2>=;J%#2;>$&I&J#0P?101O%>2;>$D }& >I% HQ;L8O% R8H8% RHKR8H8H:K% R8H8% O8% QII4Y8GQ\IY&<O&p9>Ai&x<1?#J#qD&c#0>0#$& J>Ai& 0;1O%2>$& U<">0#$& J#O& R?#V<1$& =1& J#O$%2<JJ;]O&I&J#O%>0#$&d;$%#2;>$D }& >I8% RKOXGLO8% QI:RQH8J4H8% R8H8% O4:% QII4Y8J4HK:$& ?#$& 1P;$#=;#$& =1& ?>& $12;1& J5=%4J,$-4@$)*4W%B&1O&.1%A?;_D }& >I% OQWH4% JK% UQGGQ\I% QI:RQH8J4H% R8H8% O4:% QII4Y8J4HK:$& @7#'5%7*'15%& =1& 9#<P?>O=B& V<1B&1O&<O>&1%>P>&%10P2>O>B&O#$&J<1O%>&?>& C;=>&=1&V<;1O1$&$1&>%21C1O&1O&7;?;J#O&,>??1ID }& /HK:%OQWH4:%8G8JZSQG4:%4%JK%U4HS8GQ\I% R8H8%O8%QII4Y8GQ\I$ W& N7%*X$()542$4.'5.+*%-$4)*41$25'B&=1& l$%12`>?=12 W& N*%7&(4 J,7(V7(&4 .$'$4 2$4 7((51$#7:(4 *%-'$-G&7#$B&=1&@##%11 W& E*$(4K-$'-W.B&=1&6;1$ }& >:;KJ% :K% P8% G4IUK:8J4% SKO\S8I4[% R4I9]S4:OK%Se:QG8%8%O8%QII4Y8GQ\I[% :Q% K:;8% ULKH8% LI8% G8IGQ\I[% iGL]O% :KHX8jY&1?&"iO12#&*2*#-'54%!7(&&=1&F>2#C& 7%1?>2D&4O;0#$&0/$;J>&0<I&>O%;"<>&J#O& ?>&0S$&0#=12O>D

"2>O=1$& 1_P1J%>%;C>$B& V<;1O1$& $1& A2<$%2>O& $;& $<$& P2#P<1$%>$& O#& $1& 1U1J<%>OD& F#2& 1$%>& 2>b]OB&1$&O1J1$>2;#&V<1&?>&?MO1>&"121OJ;>?&1$%i& 1O%21O>=>& I& J#0P2#01%;=>B& 1O& $<$& 0i%2;J>$B& J#O&?#$&?;O1>0;1O%#$&=1&;OO#C>J;]OB&A>J;?;%>O=#& V<1&$<$&1V<;P#$&>P?;V<1O&?#&>P21O=;=#D F#2& #%2#& ?>=#B& 1O& 1?& 0<O=#& 1=<J>%;C#B& ?>& P2;OJ;P>?& =1$C1O%>U>& 1$& $<& >?1U>0;1O%#& =1& ?>& 21>?;=>=& 10P21$>2;>?B& P#2& ?#& V<1& R<$J>0#$& $;10P21& ;OJ#2P#2>2& P2#R?10>$& 21>?1$& >& $12& 1U1J<%>=#$& >& %2>Ci$& =1& ?>& 01%#=#?#"M>& R>$>=>&1O&P2#I1J%#$&V<1&R2;O=>&1?&P2#J1$#&=1& N*%7&(4J,7(V7(&D& 5$%#& ;0P?;J>& V<1& ?>& 2/R2;J>& =1?& 0<O=#& >J>=i0;J#& =1R1& 1OA#J>2$1& 1O& 21$<?%>=#$&I&1O&?#$&P2#J1$#$D i=L]O%K:%KO%QSR8G;4%JKO%L:4%JK%bLK94:%T%RH49H8S8:% )(+"5"!(6*/%R8H8%O8%G8R8GQ;8GQ\I%T%;H8I:U4HS8GQ\I%

GLO;LH8O%KI%KO%SLIJ4%KSRHK:8HQ8Oj E#$& P2#"2>0>$& &$9787#$)5%& P120;%1O& ??1C>2& >& ?>& >JJ;]O& >& ?>$& P12$#O>$B& =1& <O>& 0>O12>& 10#J;#O>O%1D& 5$%#$& =1R1O& >=>P%>2$1B& J#0P21O=;1O=#& ?>& P2#A<O=;=>=& =1& ?>& J<?%<2>& #2">O;b>J;#O>?& I& ?#$& P12A;?1$& =1& $<$& J#?>R#2>=#21$B& P>2>& ?#"2>2& <O& "2>O& ;0P>J%#& 1O&?>&%2>O$A#20>J;]O&J<?%<2>?D i-:;8S4:%G4S4%:4GQKJ8J%RHKR8H8J4:%R8H8% O8%QII4Y8GQ\I%T%O8:%8ROQG8GQ4IK:%OeJQG8:%KI% O8%KJLG8GQ\I%T%O8%U4HS8GQ\Ij F21A;12#& P21"<O%>201& $;& 1$%>0#$& J#0#& $#J;1=>=& P21P>2>=#$& P>2>& ?#$& J>0R;#$& =1& ?>& %1JO#?#"M>&I&?>$&O<1C>$&A#20>$&=1&%2>R>U#B&I& $;&O#&1$&>$MB&J]0#&?#"2>210#$&d>J12?#D&

&4O;C12$;=>=&P12<>O>&=1&P#$"2>=#$&1O&>=0;O;$%2>J;]O& =1&O1"#J;#$&=1&F12/B&J#O$;=12>=>&=1&P21$%;";#&1O&%#=#$& ?#$&P>M$1$&=1&d>R?>&d;$P>O>D

)

-I%R4G8:%R8O8WH8: }& 28% RKH:4I8% S]:% QII4Y8J4H8% JKO% SLIJ4$%5?#O&@<$g

0,%&(&!+" &'"$!"%(

"QKIJ4% L:;KJ% LI% K_RKH;4% KI% 0$/")-1 23"-4"-)[% iGL]OK:% :4I% O8:% W8HHKH8:% T% U4H;8OKV8:% R8H8% :L% 8ROQG8GQ\I% G4S4% SK;4J4O49X8%R8H8%O8%QII4Y8GQ\Ij

$+


$$ $ / ) - % " . / ( ! $ ( - ) # $ ' ! " < - 8 $

$:4/'2S:-)/oTC)L

!!!!!"#$%!&'()%

0&01+)%!) 0N'-1'")

15'80#!'"()!:("$0#

')#-'OP")%!) !I;!-&!(0&'" W,m:/ )-/ -)R,/ b#:*/ C:S:/ O,S)./ RNSO:c/ \N)/ S4),5,/ BN-,/ #O2S,Z/ N*,/ ).+,S2T*/ 5)/ S:*:S2R2)*+:/ C4:R:325,/ C:4/ ).+N52,*+)./ 5)/ -,/ 1*25,5/ 5)/ $4:\).2:*,-2L,*+)./ 5)/ -,/ 1*23)4.25,5/ #,.,/ 64,*5)/ `1#6aZ/ -,/ SN,-/ ,D42T/ .N./ CN)4+,./ 5)-/ <J/ ,-/ <P/ 5)/ )*)4:/ 5)/ <>7@/ )*/ $-,L,/6N,Y,4+)H/BN-,/#O2S,/DN.S,/ +4,*.\)424/ .N./ S:*:S2R2)*+:./ \ H[SHULHQFLD SURIHVLRQDO D -:./ ,.2.+)*+)./ 5)/ -,./ SO,4-,.Z/ D42*5,*5:/ ,.).:4K,./ )*/ R,*)m:/ ).S[*2S:Z/ C4:5NSS2T*/ ,N52:32.N,-Z/ S4),S2T*/ 5)/ 9N2:*).Z/ marketing,/ C)42:52.R:/ 5292+,-Z/ 5)C:4+).Z/ \:+:94,\K,Z/,4+)./32.N,-).Z/*)9:S2,S2T*/ S:*/-:./R)52:.Z/)*+4)/:+4:.H o,/,S+2325,5/\N)/C:.2D-)/94,S2,./,-/ FRQWUDWR ½UPDGR SRU OD 8&* FRQ -,/ GN*2S2C,-25,5/ 5)/ 6N,Y,]N2-Z/ 4).C)S+:/ ,-/ N.:/ 5)-/ -:S,-/ ><7/ 5)/ -,/ $-,L,/ 6N,Y,4+)/ 5N4,*+)/ -:./ SUy[LPRV FLQFR DxRV /D 8&* DN.S,/ +4,*.R2+24/ ,4+)Z/ SN-+N4,/ Y/ S:*:S2R2)*+:/)*/N*/R2.R:/-N9,4Z/ 5)/R,*)4,/2*+)94,5,H

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

5"21$>=>& =1& ?>& J>2212>& =1& F12;#=;$0#& J#O& 01OJ;]O&1O&9;1OJ;>$&F#?M%;J>$&=1&?>&N>J<?%>=&=1& 9#0<O;J>J;]O&=1&?>&4O;C12$;=>=&9>$>&:2>O=1D

!<?>& 9d;J>& ;O;J;]& J#O& ?>& K_R4:QGQ\I% U4;49H]UQG8&!"#$%&'%()*+,-*&=1&@><2;J;#& c#221$B&?>&J<>?&0#$%2]&?>&J2;$;$&d<0>O;%>2;>&=1& ?#$&C1O1b#?>O#$&I&?>&J21J;1O%1&#?>&=1&_1O#A#R;>& >O%1&?>&0;"2>J;]OD&c#221$&=;U#&V<1&<O>&;0>"1O& =1R1&%2>O$0;%;2&<O&01O$>U1&=1&21A?1_;]OB&I&1O& $<&J>$#&A<1&=>2?1&C#b&>&?#$&0;?1$&=1&C1O1b#?>O#$& V<1& d>O& >R>O=#O>=#& $<& P>M$& P#2& ?>& J2;$;$& 1J#O]0;J>&I&d<0>O;%>2;>&V<1&>%2>C;1$>OD

E>&$;"<;1O%1&Jd>2?>&A<1&=1?&>2%;$%>&e>C;12&Fi21bB& J#O#J;=#&P#2&$<&J<1O%>&1O&-O$%>"2>0&`=QI;8% "G4;GPa[&1O&?>&V<1&0<1$%2>&#R2>$&V<1&01bJ?>O& ?>& ;?<$%2>J;]O& I& ?#$& #RU1%#$& J#%;=;>O#$D& Fi21b& J#0P>2%;]& $<& %2>I1J%#2;>& P2#A1$;#O>?& I& d>R?]& =1&$<&P2#J1$#&J21>%;C#&I&1_P12;1OJ;>&1O&21=1$& $#J;>?1$D&p7;&>?"<;1O&%;1O1&<O>&;=1>&1O&01O%1B& ?>&J?>C1&1$&$12&J#O$%>O%1&I&=;A121O%1qB&>J#O$1U]D 5?&$1"<O=#&=M>&$1&=;J%>2#O&Jd>2?>$& 1O&%#2O#&>&?>&G4SLIQG8GQ\I%:4GQ8O% T%JQ9Q;8O5&E>&P2;012>&1_P#$;%#2>&A<1& ?>&P21$1O%>=#2>&=1&c1?12>0>B&7;?C;>& F#OJ1&jiP1bD&9#O&0S$&=1&)Q(&0;?& $1"<;=#21$&1O&-O$%>"2>0B&J#01O%>& V<1& 1O& $<& P12A;?& =>& J#O$1U#$& =1& $>?<=& I& $<P12>J;]O& P12$#O>?n& 21J>?J>& V<1& O#& $1& P21#J<P>& P#2& $<R;2&$1"<;=#21$&$;O#&P#2&?>&J>?;=>=& =1&$<$&P<R?;J>J;#O1$D F#$%12;#201O%1B&!b>1?&c#221$&d>R?]&=1& $<$& 10P21O=;0;1O%#$& =1$>22#??>=#$& 1O& 21=1$& $#J;>?1$B& 1?& P2;012#& A<1& J>0;$1%>$& pT>g>O1$qn& >d#2>& 1$& =;21J%#2&"1O12>?&J21>%;C#&=1&9>A1MO>D& pa#I& d>I& V<1& P?>O;A;J>2& J#0#& 9$'V*-*'%6&P1O$>2&J#0#&*(-*'-$7(*'%& I&>J%<>2&J#0#&10P21O=1=#21$qD @><2;J;#& c#221$& P21$1O%]& $<& P2#I1J%#& pE#& =1& >O#Jd1qB& V<1& 21>?;b>&J#R12%<2>$&A#%#"2SA;J>$&=1& R#=>$&I&1C1O%#$D&9#01O%]&V<1&d#I& 1?&i_;%#&=1&<O&O1"#J;#&=1R1&1$%>2&


()*+,*,-)./0/BI:/(%%%/':7E

L

$/)-%"./(!$(-)#$'!"<-8$

?;">=#& >& ?>$& 21=1$& $#J;>?1$& I& 1?& 9$'V*-7(&/& pT<$J>0#$& $#2P21O=12?#$& J#O& J#O%1O;=#& =;A121O%1qB&=;U#D

P>2>&V<1&%1O">&<O&d;?#&J#O=<J%#2qB&>=10S$B& d>I&V<1&J<0P?;2&%21$&1%>P>$Y&P21P2#=<JJ;]OB& P2#=<JJ;]O&I&P#$%P2#=<JJ;]OD

F#2&/?%;0#B&6>0M21b&d>R?]&=1&$<&P2#I1J%#&R>U#& 1?& %M%<?#& p9#012& "2>%;$& "2>J;>$& >& -O$%>"2>0qB& =1R;=#&>?&J21J;0;1O%#&?#"2>=#&P#2&$<&O1"#J;#& pN##=& 61C;1`$& 5Jq& 1O& -O$%>"2>0B& =#O=1& 21$1+>& #A12%>$& J<?;O>2;>$& =1& 21$%><2>O%1$& =1& :<>I>V<;?D& 9#0P>2%;]& J;OJ#& J#O$1U#$& P>2>& J21J12&1O&21=1$Y&J>?;=>=&I&J#O$%>OJ;>B&$12&A;1?& >&%<&(7#,5B&1$%<=;>2&>&%<&><=;1OJ;>B&d>??>2&<O& R>?>OJ1&1O&?>$&P<R?;J>J;#O1$&I&%1O12&P>J;1OJ;>D

@12JI& 61I1$B& P2#=<J%#2>& 1U1J<%;C>& ><=;#C;$<>?B& 01OJ;#O]&V<1&P>2>&1?&=1$>22#??#&=1&<O&P2#"2>0>& d>I& V<1& J<0P?;2& %>21>$& =1& J##2=;O>J;]OB& P?>O;A;J>J;]OB& P><%>$B& P21$<P<1$%#B& "2>R>J;]O& I& P#$%P2#=<JJ;]OD& 7;O& 10R>2"#B& >2"<01O%]Y& p.#& P#=10#$&d>J12&%1?1C;$;]O&$;&O#&%1O10#$&%>?1O%#$qD

N;O>?;b]&!O=2i$&c>J?1B&95l&1O& ?#5'.9$^4 =4 D7V5-4 ?#+$)5'6& V<;1O&J#O%]&V<1&>&%2>Ci$&=1& $<&>"1OJ;>&P<R?;J;%>2;>&?#"2]& R2;O=>2& <O>& >I<=>& 0>$;C>& %2>$&1?&P>$>=#&%12210#%#&1O& 5J<>=#2B& p1$& ;0P21$;#O>O%1& ?>$& =#O>J;#O1$& I& >I<=>& V<1& #R%<C;0#$& 1O& 1$#$& =M>$B& P<=;0#$& "2>R>2& I& =#J<01O%>2&%#=#qB&$1+>?]D 5O&21?>J;]O&>?&`-SRHKIJQSQKI;4%@Q9Q;8Oa[%.<O#& !J#$%>B& =;21J%#2& J21>%;C#& "1O12>?& =1& >"1OJ;>& E>;g>& :21IB& J#01O%]& V<1& $<& ?>R#2& 1O& 21=1$& J#O$;$%1&1O&p1OJ#O%2>2&?>&d;$%#2;>&=1%2S$&=1&J>=>& 0>2J>B&=#O=1&?>&J21>%;C;=>=&?#&21$<1?C1&%#=#&I&?>& J#0<O;J>J;]O&1OJ<1O%2>&?>&0>O12>&=1&d>J12?#qD

:;>&T>?=1]OB&=;21J%#2>&=1&;0>"1O&J#012J;>?B& J#O%]& V<1B& >& P>2%;2& =1& $<& 1_P12;1OJ;>& 1O& =;A121O%1$& 01=;#$& =1& J#0<O;J>J;]O& P#2& '(& >+#$B&J21]&H7$4?^.'*%%B&<O>&21C;$%>&C;2%<>?&=1& 0#=>&V<1&J#012J;>?;b>&%#=#&%;P#&=1&>2%MJ<?#$& =1&R1??1b>D&!O#%]&V<1&?#&1$1OJ;>?&P>2>&??1">2&>?& i_;%#&1$&=;$%2;R<;2&<O&O1"#J;#&J#O&7(82+*(#*'%4 >&%2>Ci$&=1&P?>%>A#20>$&=;";%>?1$D e<>O&9>2?#$&7>?>b>2B&=;21J%#2&=;";%>?&=1&9?>2#B& 1_P?;J]& ?>& A#20>& J#221J%>& =1& 21>?;b>2& <O& 1$%<=;#&=1&012J>=#&>&%2>Ci$&=1&d122>0;1O%>$& =;";%>?1$B&1O%21&?>$&V<1&$<";2;]&>7&4)$-$4`D& c>0R;iO& 01OJ;#O]& H55&2*4 J'*()%6& V<1& 0<1$%2>& ?#$& %i20;O#$& =1& R/$V<1=>& 0S$& P#P<?>21$Y& pE>$& %1O=1OJ;>$& O#$& >I<=>O& >& R<$J>2&J21>%;C;=>=qB&$<";2;]D 7#R21& ?>& GHK8GQ\I% JK% G4IGKR;4:% GHK8;QY4:[% G4SLIQG8GQ\I% :4GQ8O[% RLWOQGQJ8J% T% HKO8GQ4IK:% ReWOQG8:[& ?>& >J%2;b& =1& %1?1C;$;]O& F>#?>& N>2M>$& >A;20]& V<1Y& pc#=#& $1& P<1=1& J#O$1"<;2& $;10P21& I& J<>O=#& <O#& $1& ?#& P2#P#O">qD&E?1"]&>&:<>I>V<;?&>&$<$&)\&>+#$& $;O& 21J<2$#$& 1J#O]0;J#$B& P12#& "2>J;>$& >& $<& P12$;$%1OJ;>&I&P>$;]O&J#O$#?;=]&$<&J>2212>D 8>2M#& 9>$%2#B& 21=>J%#2& J21>%;C#B& =;U#& V<1& <O& P2#I1J%#&1_;%#$#&O>J1&>&P>2%;2&=1&=#$&P>?>R2>$& J?>C1Y& >?0>& I& J#OJ1P%#D& 9#0#& 1U10P?#& 01OJ;#O]& >& :<>I>2%1D& pc#=#& J#0<O;J>B& ?#$& J#OJ1P%#$& =1R1O& $12& J21>=#$& >& P>2%;2& =1& C12=>=1$qB&=;U#D e#$i& 8>C;=& @;2>O=>B& =;21J%#2& =1& P<R?;J;=>=B& J;O1&I&%1?1C;$;]OB&1_P21$]&V<1&?>&J<?%<2>&C;$<>?& 1$& 1$1OJ;>?& 1O& ?>& J#0<O;J>J;]OY& pE>& J<?%<2>& V<1&%1O10#$&=1$=1&J>$>&=1%120;O>&?>&J>?;=>=& =1&J#0<O;J>=#21$&V<1&C>0#$&>&$12qD 7#AM>& @1$%>Ob>B& 21?>J;#O;$%>& P/R?;J>& =1& :>0>C;$;]OB& 1_P?;J]& V<1& p$<& P2#P]$;%#&

15'80#!'"()!:("$0#

c>0R;iO& $1& %2>%]& $#R21& KO% S8IKb4% T% RH4JLGGQ\I% JK% G4I;KIQJ4:% R8H8% SKJQ4:% JK% G4SLIQG8GQ\I% 8LJQ4YQ:L8OK:D& !?A21=#& F;"<>C1B& ?;R21%;$%>& =1& d4 P$9727$%B& J#01O%]& V<1& <O>& P>2%1& 1$1OJ;>?& =1& <O& P2#I1J%#& ><=;#C;$<>?& 1$& J21>2& <O& "<;#OY& pa>I& V<1& d>J12?#& =1& 0>O12>& $1"01O%>=>& I& #2=1O>=>&

F#2& #%2#& ?>=#B& 1?& 1_A<%R#?;$%>& I& >J%<>?& P21$1O%>=#2&=1P#2%;C#&=1&6c7B&!?A>2#&@#21O#B& >$1"<2]& V<1& $<& A#20>J;]O& =1P#2%;C>&?#&>I<=]&>&21>?;b>2& <O& P2#I1J%#& =1P#2%;C#& =1& 1$J<1?>$& =1& A#20>J;]O& 1O& 5J<>=#2& d>J1& 0S$& =1& )(& >+#$D&pF#=10#$&$12&"2>O=1$& P2#A1$;#O>?1$B& P12#& 1?& $12& P12$#O>$& O#R?1$& I& 0#$%2>2& $;10P21& <O>& R<1O>& ;0>"1O& O#$& C>& >R2;2& ?>$& P<12%>$& >& O;C1?&?>R#2>?qD

$%


$& $ / ) - % " . / ( ! $ ( - ) # $ ' ! " < - 8 $

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

1$& ;OJ2101O%>2& 1?& P#$;J;#O>0;1O%#B& A>J;?;%>2& ?>$& J#0<O;J>J;#O1$& I& 1$%>R?1J12& 21?>J;#O1$& 1O%21& ?>& ><=;1OJ;>&I&$<&P2#=<J%#&#&0>2J>qD

Z

Y

=\G;KO%JK%GQKHHK

15'80#!'"()!:("$0#

5?& =#0;O"#& '^& =1& 1O12#B& %2>$& <O& 21A<12b#& =1& ?>$& Jd>2?>$& ;0P>2%;=>$& I& ?>& 21>?;b>J;]O& =1& >J%;C;=>=1$& ?/=;J>$& J#0#& .,5-5>55-,& I& J#OJ<2$#$B& J<?0;O]& 1?& 1C1O%#& >?21=1=#2& =1& ?>$& ')dH(B& ?#"2>O=#& <O& >P2#_;0>=#&=1&'((&>$;$%1O%1$D&8<2>O%1&?>&%>2=1&1?& P/R?;J#&$1&%#0]&A#%#$&J#O&?#$&1_P#$;%#21$

[

X

a122>0;1O%>& =;";%>?& V<1& J#?1JJ;#O>& =>%#$& V<1& $1& C>O& >J<0<?>O=#&P>2>&;=1O%;A;J>2&J#0P#2%>0;1O%#$&I&#R%1O12&;=1>$D

)

n4;4: )D& F>2%1& =1& ?>& 1_P#$;J;]O& =1& @><2;J;#& c#221$B& V<;1O& P#$11& 1$%<=;#$& 1O& @$'V*-7(&B& F<R?;J;=>=& I& 9#0<O;J>J;]O& 1O& 5J<>=#2&I&!2"1O%;O> 'D&lR2>$&=1&e>C;12&Fi21b&Z9;O%>&7J#%Jd[Y&p4%;?;b#&#RU1%#$&%>O& $1OJ;??#$&J#0#&<O&J?;P&#&>?;J>%1&P>2>&J21>2&>2%1&J#OJ1P%<>?q HD& 9#OA121OJ;$%>$Y& !?A>2#& @#21O#B& @12JI& 61I1$B& !?A21=#& F;"<>C1&I&!O=2i$&c>J?1 3D&9#OA121OJ;$%>$Y&!b>1?&c#221$B&@><2;J;#&c#221$B&7;?C;>&F#OJ1& I&a<0R12%#&6>0M21b LD&9#OA121OJ;$%>$Y&e<>O&9>2?#$&7>?>b>2B&:;>&T>?=1]O&I&.<O#&!J#$%> QD&9#OA121OJ;$%>&8>2M#&9>$%2# ^D&9#OA121OJ;$%>&.<O#&!J#$%> \D&9#OA121OJ;$%>&F>#?>&N>2M>$ *D&9#OA121OJ;$%>&!?A>2#&@#21O# )(D&7;?C;>&F#OJ1&I&E<;$&c>0>I#B&A#%]"2>A#&I&J>0>2]"2>A#&=1?&1C1O%#

W

K

V

J\

"*+4)9,5:;/<<=>7=<>7@/A/BC4:D,5:;/>P=>8=<>7@/0/F:+:.;/'2S:-)/oTC)L/Y/S:4+).K,/5)/G,N42S2:/j:44)./Y/M,32)4/$[4)L

c>0R;iO& 1_P<$;12#O& T?>OJ>& 6#J>B& !=2;SO& 9>$%2#B& e#O%d>O&N>R>2>&I&@>2J1?#&F#OJ1D&5$%1&/?%;0#&>O#%]& V<1& p?>& J?>C1& =1& <O& 10P21O=;0;1O%#& 1O& %1?1C;$;]O& 1$%S& 1O& ?>& J#012J;>?;b>J;]OqB& P#2& ?#& V<1& 1?& $<I#& zp5O%21%1O;0;1O%#&%#%>?q|&1$&%2>O$0;%;=#&1O&01=;#$& =;";%>?1$& J#0#& j#<%<R1& I& N>J1R##gB& J#O& 1?& A;O& =1& 1_P>O=;2?#&1&;OJ?<;2&>&?>&O<1C>&"1O12>J;]OD&


CORREDORES

EP


%.##$!.#$/ 0*150",!*!0"$'

Estudiantes de UCG

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

emprenden

.?x-,%nQ;IK::%=O4;PQI9 l2O1??>&ÄC;?>B&>?<0O>&=1&8;$1+#&:2SA;J#&1O&?>&4O;C12$;=>=&9>$>&:2>O=1& Z49:[B&;O><"<2]&1$%1&10P21O=;0;1O%#&1O&1?&'()L&U<O%#&>&$<&d120>O#B& 9i$>2& ÄC;?>D& E>& 1?1JJ;]O& =1?& O#0R21& #J<22;]& p1O& 01=;#& =1& <O>& =;AMJ;?& %2>O$;J;]OB&=1&?>&V<1&?#"2>0#$&$>?;2&1O&01=;#&=1&=;A;J<?%>=1$q&W01OJ;#O>& i?WD&ps,Ib12t&1$&?>&d>R;?;=>=&=1&$#R21P#O12$1&>O%1&J<>?V<;12&21%#qD E>&0>2J>&J#012J;>?;b>&<O>&?MO1>&=1&2#P>&=1P#2%;C>B&1$P1J;>?;b>=>&1O& P21O=>$& J#O& 1$%;?#B& J]0#=>$& I& 21$;$%1O%1$& >& J<>?V<;12& 1_;"1OJ;>D& E>& J#?1JJ;]O& >R>2J>& J>%1"#2M>$& J#0#Y& j#">B& P7-(*%%64 B'5%%87-64 M7+eM7-%+64 KV$-*>5$')6&7<2A&I&1$%;?#&=1&C;=>&1O&"1O12>?D&pE>&J2#0S%;J>&I&$<&A#20>& =1&>P?;J>2?>B&0>O%1O;1O=#&<O>&1$%i%;J>&I&?MO1>&"2SA;J>B&O#$&"1O12]&?>& P12$#O>?;=>=&=1&0>2J>&V<1&R<$JSR>0#$qB&>"21">&9i$>2D

&&&

l2O1??>B& ;O=;J>& V<1& ?>& 01%#=#?#"M>& =1& ?>& <O;C12$;=>=B& pd>J12& P>2>& $12q& k1_P12;01O%>2& ?#& V<1& 1$%S$& 1$%<=;>O=#B& J21>2& J#$>$& V<1& $#R21$>?">Ok&d>&>I<=>=#&R>$%>O%1&1O&$<&O1"#J;#D&:2>J;>$&>&1$#&R<$J>& 0>O12>$&=1&=1$%>J>2&?>&0>2J>&1O&1?&012J>=#D&pE>&P2SJ%;J>&J#O$%>O%1& I&21%2#>?;01O%>J;#O1$&V<1&21J;R;0#$&O#$&>I<=>O&>&J#O$%2<;2&O<1$%2#& P2#P;#&J2;%12;#B&I&>&$;10P21&R<$J>2&01U#2>2&?#&V<1&d>J10#$qn&01OJ;#O>& V<1&?#$&9>$#$&P2SJ%;J#$&d>O&>I<=>=#&>&><01O%>2&$<&J#OA;>Ob>B&>?&J21>2& >?"#&I&C1O=12?#D F>2>& ?#$& A<%<2#$& 10P21O=1=#21$B& l2O1??>& 21J#0;1O=>& 1$A#2b>2$1& I& $12& P12$1C12>O%1Y&p712S&=;AMJ;?B&P12#&C>?1&?>&P1O>&?<Jd>2&I&d>J12&J21J12&>?"#&%>?& J#0#&?#&$<1+>$B&J#O&?>&P#$;R;?;=>=&=1&1_P12;01O%>2&I&>P21O=12&=1?&P2#J1$#qD k,%=4I:LO;QI9%skLS8I%,K:4LHGK:%=4I:LO;QI9t 5O&$1P%;10R21&=1?&'()HB&52;g&F>Jd1J#B&1"21$>=#&=1&?>&J>2212>&61J<2$#$& a<0>O#$&1O&?>&49:B&=;#&;O;J;#&>&<O&10P21O=;0;1O%#B&V<1&;O;J;>?01O%1& $1&=1O#0;O]&a89&Za<0>O&81C1?#P01O%&9#O$<?%;O"[B&<O>&J#O$<?%#2>& 10P21$>2;>?&1OA#J>=>&1O&1?&=1$>22#??#&=1?&%>?1O%#&d<0>O#B&J<I>$&S21>$& =1& %2>R>U#& $#OY& 21J?<%>0;1O%#B& $1?1JJ;]O& I& J>P>J;%>J;]O& =1& P12$#O>?B& >$M&J#0#&?>R#21$&=1&=1$>22#??#&#2">O;b>J;#O>?Y&0>O<>?1$&=1&A<OJ;#O1$B& P12A;?1$&=1&J>2"#$B&1O%21&#%2#$D

35(,%(,'#

5O& 1?& '()^B& >R>O=#O]& %10P#2>?01O%1& a89B& P#2& <O>& P2#P<1$%>& =1& %2>R>U#&V<1&21$<?%]&=1&<O>&J#O$<?%#2M>&J#O&<O>&10P21$>&=#O=1&d>RM>& P21$%>=#&$<$&$12C;J;#$&>O%12;#201O%1Y&p@1&P;=;12#O&V<1&1O%21&>&%2>R>U>2& J#O&1??#$B&J#0#&e1A1&=1&61J<2$#$&a<0>O#$qB&I&?#&d;b#D&

@1=;>O%1&1$%1&10P21O=;0;1O%#B&?#$&d120>O#$&ÄC;?>&R<$J>O&=#$&J#$>$Y& p7<P12>2$1&J>=>&=M>q&I&p$1"<;2&J21J;1O=#B&$;O&0;1=#&>&?#$&21%#$&O;&>&?#$& J>0R;#$B&P#2V<1&%#=#&%2>1&<O>&1_P12;1OJ;>&O<1C>qD&8;$A2<%>O&J>=>&1%>P>& =1& $<& %2>R>U#B& =1$=1& 1?& P2#J1$#& J21>%;C#& d>$%>& ?>& P2#=<JJ;]OB& $;1O%1O& >?1"2M>&I&$>%;$A>JJ;]O&J<>O=#&C1O&>&$<$&J?;1O%1$&<$>O=#&?>$&P21O=>$D

7<&$<1+#&$;10P21&d>&$;=#&$12&$<&P2#P;#&U1A1B&P#2&?#&V<1&>&A;O>?1$&=1?& '()^& =1J;=;]& <O;2$1& J#O& & $<& J#?1">& @;Jd1??1& 6#=2M"<1b& =1& a<0>O1D& 5$& 1O%#OJ1$& J<>O=#& J1$]& a89& I& J#0;1Ob>& 1?& 10P21O=;0;1O%#& a6& 9#O$<?%;O"& Za<0>O& 61$#<2J1$& 9#O$<?%;O"[B& J<I>& >$#J;>J;]O& R<$J>& >%1O=12&I&$>%;$A>J12&=1&<O>&0>O12>&0S$&;O%1"2>?&?>$&O1J1$;=>=1$&=1& ?>$&10P21$>$WJ?;1O%1$D

"*+4)9,5:;/>E=>?=<>7@/A/BC4:D,5:;/>?=>?=<>7@/0/F:+:.;/S:4+).K,/5)/-:./)RC4)*5)5:4).

$'


% . # # $ ! . # $ / $(

()*+,*,-)./0/BI:/(%%%/':7E

P?>%>A#20>&=1&C1O%>&5(27(*D&!J%<>?01O%1B&?#$&>2%MJ<?#$&$1&1OJ<1O%2>O& 1O&?>&%;1O=>&AM$;J>&T>0R##&7%#21D @##O&1$&<O>&?MO1>&=1&J>0;$1%>$B&0#Jd;?>$&I&">A>$&P>2>&d#0R21$D&E>& 2#P>& 1$& 1?>R#2>=>& P#2& >2%1$>O>$& I& 1C;%>O& 21P1%;2& =;$1+#$Y& pa>J10#$& <O>&J>0;$>&P>2>&<O&$#?#&J?;1O%1D&9<>O=#&P<R?;J>0#$&<O>&A#%#B&%#=#$& ?#$&J?;1O%1$&$>R1O&V<1&1$&1?&/O;J#&V<1&1_;$%1n&1$1&1$&1?&C>?#2&>"21">=#& =1&1$%1&10P21O=;0;1O%#B&?>&1_J?<$;C;=>=qD

52;g&I&@;Jd1??1D&N#%#Y&@D&9D&!O=2>=1

4O& 21J<2$#& ;0P#2%>O%1B& $1"/O& F>Jd1J#B& 1$& 1?& 0>O1U#& =1& ?>$& 21=1$& $#J;>?1$B&P#2&?#&01O#$&1O&J#O$<?%#2M>&?#&1$Y&pE>&A;O>?;=>=&>?&J21>2&<O>& J<1O%>&1O&21=1$&$#J;>?1$&1$&J#0P>2%;2&21J#01O=>J;#O1$&V<1&R1O1A;J;1O& >&?#$&<$<>2;#$qB&>"21">D F>Jd1J#& ">2>O%;b>& V<1& ?>& 01%#=#?#"M>& =1& ?>& <O;C12$;=>=& O#& $#?#& 1O$1+>&>&?#$&>?<0O#$&>&V<1&J<0P?>O&]2=1O1$B&p?#$&9>$#$&#&>?"<O#$& %2>R>U#$&=1&;OC1$%;">J;]O&%1&??1C>O&>&$>?;2&=1&%<&b#O>&=1&J#OA#2%q&I&p1$#& %1&1_;"1&R<$J>2&?>&1_J1?1OJ;>qB&>$1"<2>&F>Jd1J#D&!$M&0;$0#B&>A;20>&V<1& 10P21O=12&O#&1$&ASJ;?B&p1?&i_;%#&O#&O>J1&=1&<O&=M>&P>2>&#%2#qB&d>I&V<1& $12&J#O$%>O%1$D 144I

7#?>O#&J#O$;=12>&V<1&1O&?>&49:&1_;$%1O&P12$#O>$&J#O&0<Jd#&%>?1O%#& P>2>& 10P21O=12D& F>2>& V<;1O1$& =1$11O& d>J12?#B& i?& $<";121Y& p81R1O& >$#J;>2$1&J#O&P12$#O>$&V<1&%1O">O&01%>$&J?>2>$B&P#2V<1&$;O&1$#&O#& P<1=1O&J#O$1"<;2&O>=>D&5_;$%1&0;1=#&I&C12"Ç1Ob>B&P12#&?>&1_P12;1OJ;>& 1$& ?;O=>B& I& $;1O%1$& V<1& P#O1$& 1O& P2SJ%;J>& ?#$& J#O#J;0;1O%#$& V<1& >=V<;121$&=1&?>&<O;C12$;=>=qD

J

L

)D&5==I&7#?>O#D 'D&T2I>O&7>0>O;1"#

5O&A1R212#&=1?&'()\B&5==I&;O;J;]&?>&P?>O;A;J>J;]O&=1?&O1"#J;#B&P#O;1O=#& 1O&P2SJ%;J>&?#$&J#O#J;0;1O%#$&>=V<;2;=#$&1O&?>&49:Y&1?&=1$>22#??#&=1& <O&1$%<=;#&=1&012J>=#B&C>2;#$&>OS?;$;$&=1&J#O$<0#B&=1&?>&J#0P1%1OJ;>B& =1&?#$&P21J;#$n&<O>&P2#I1JJ;]O&=1&C1O%>$B&J#$%#$B&1O%21&#%2#$D&5O&>R2;?B& I>& d>RM>& =1A;O;=#& $<$& P2#C11=#21$B& P#2& ?#& V<1& 1O$1"<;=>& ;O;J;]& <O>& J>0P>+>&=1&1_P1J%>%;C>&1O&21=1$&$#J;>?1$D&lA;J;>?01O%1B&1O&U<O;#&?>Ob>& $<&0>2J>B&$;1O=#&-O$%>"2>0B&=<2>O%1&?#$&P2;012#$&%21$&01$1$B&$<&/O;J>&

35(,%(,'#

5==I& 7#?>O#B& 1$%<=;>O%1& =1& .1"#J;#$& -O%12O>J;#O>?1$& 1O& ?>& 49:B& O#$& J#01O%>& $#R21& $<& 10P21O=;0;1O%#& p@##OqB& <O>& ?MO1>& =1& 2#P>& 0>$J<?;O>&V<1&J#01Ob]&P#2V<1&$;10P21&d>&=1$1>=#&%1O12&$<&O1"#J;#& P2#P;#B& O#& =1P1O=12& =1& >?"<;1O& 0S$B& $;O& 10R>2"#B& ?>& J#0P>+M>& A<1& =1$>22#??>=>& U<O%#& >& $<& >0;"#& T2I>O& 7>0>O;1"#B& V<;1O& 1$%<=;>& 61?>J;#O1$&F/R?;J>$&1O&1?&c1JO#?]";J#&5$PM2;%<&7>O%#D

$:4/sN-)+/_25,-9: 5$%<=;>O%1& =1& J<>2%#& >+#& =1& ?>& J>2212>& 1O& F12;#=;$0#& J#O& 01OJ;]O& 1O& F12;#=;$0#& 81P#2%;C#&=1&?>&N>J<?%>=&=1&9#0<O;J>J;]O&=1&?>& 4O;C12$;=>=&9>$>&:2>O=1&Z49:[D


]N)/.:S2,D2-2L,/)-/S2*)/5)52S,5:/,/-,/5,*L,Z/+N32)4:*/-N9,4/)*/ 52S2)RD4)/5)-/<>7UZ/)*/-,/1*23)4.25,5/#,.,/64,*5)/`1#6aZ/-:/ ]N)/C)4R2+2T/2*2S2,4/N*/*N)3:/+4,L,5:/2+2*)4,*+);/.)/C4).)*+T/-,/ )52S2T*/88/)*/WN)*:./B24)./Y/)*/).+)/<>7@/.)/-:94T/.:S2,-2L,4/-,/ C4:CN).+,/)*/-,/%.-,/j42*2+,42,Z/G,*+,/Y/$:4+:32)m:H

&')(;'5(&!+"

E>$& A#20>$& ><=;#C;$<>?1$& d>O& ??1">=#& >& $12& %>O& ;O=;$P1O$>R?1$& P>2>& J#O%2>221$%>2& ?#& 1AM012#& =1& >?"<O>$& 1_P21$;#O1$& >2%M$%;J>$& J#0#& ?>& =>Ob>B& V<1& >& 2>%#$& P>21J12M>O& 1$%>2& >dMB& p1O& 2110P?>b#& =1{qD& & j>& O#& $>?;0#$& =1& J>$>& >& R<$J>2& ?>& 01U#2& ?#J>?;=>=& P>2>& J#0P>2%;2& <O& 1$P1J%SJ<?#&C;C#B&>&C1J1$&O;&$;V<;12>&<O>&P1?MJ<?>B&$;O#&V<1&>=1J<>0#$& J]0#=>01O%1& ?>& R<%>J>& P12$#O>?B& 1O& J>$>B& J#O& O<1$%2>$& P2#P;>$& 1_;"1OJ;>$B& I& >$;$%;0#$B& =1$=1& J<>?V<;12& P?>%>A#20>B& >& <O>& $1?1JJ;]O& =1&J#O%1O;=#$&=>=#$D&& F#=2M>0#$& =1J;2& V<1& 1?& P2#I1J%#& K;O1$& A<OJ;#O>& >$M& %>0R;iOB& $#?#& V<1&?>&1?1JJ;]O&=1&O#&P21$1OJ;>2&?>&1$J1O>&1O&C;C#&1$&J#O$1J<1OJ;>B& 0S$&R;1OB&=1?&d1Jd#&=1&kP#2&1U10P?#k&O#&J#O%>2&J#O&<O>&J>2%1?12>& J#O%;O<>& =1& =>Ob>B& #& =1& O#& %1O12& <O>& "1$%;]O& J#O& ?#$& 21J<2$#$B& I>& $1>& P>2>& %2>12& >& J#21]"2>A#$& p21A121O%1$q& I& $<$& J#0P>+M>$B& #& =1& ?#$& 0MO;0#$&21J<2$#$&=;$P#O;R?1$&V<1&P120;%>O&P2#=<J;2&;OJ1$>O%101O%1& P>2>&?>&1$J1O>&?#J>?D&.#&J>R1&>V<M&>d#O=>2&1O&?>$&2>b#O1$B&1$#&P<1=1& >R#2=>2$1&1O&<O&%1_%#&P#$%12;#2n&=1&0#01O%#&O#$&V<1=>210#$&J#O&1$>& 21A121OJ;>&P>2>&1OA21O%>2&V<1&1?&C;=1#B&1O&0#=>?;=>=&=1&21";$%2#B&O#$& A>J;?;%>&1?&>JJ1$#&>&1$>$&P2#=<JJ;#O1$&>2%M$%;J>$B&U<$%>01O%1&R<2?>O=#& >?&%;10P#W1$P>J;#D&

!& =;A121OJ;>& =1& ?>& 0/$;J>B& J<I#& ?1O"<>U1& 1$J2;%#& 0>O%;1O1& C;"1OJ;>& 0S$&>??S&=1&?>&??1">=>&=1&?>&%1JO#?#"M>&=1&?>$&"2>R>J;#O1$&=1&><=;#B& 1O&1?&J>$#&=1&?>&=>Ob>B&1?&21";$%2#&1$J2;%#&1$&J>$;&0>%12;>?&=1&0<$1#D& 81& d1Jd#B& 21J<12=#& d>R12& C;$;%>=#& 1O& E>& a>R>O>& Z9<R>[& <O& 0<$1#& =1& ?>& =>Ob>B& =#O=1& $1& =>R>& J<1O%>& =1& 0S$& =1& <O& %;P#& =1& O#%>J;]O& P>2>&?>&P21$12C>J;]OB&21P>$#&IB&P#2&$<P<1$%#B&A<%<2>&21P#$;J;]O&=1&?>$& J#21#"2>AM>$D&5$&=1J;2&V<1&?>&?<Jd>&J#O%2>&?>&=1$010#2;>&I&1?&P>$#&=1?& %;10P#&I>&%1OM>B&d>J1&%;10P#B&J#O%2;OJ>O%1D& 7;O& 10R>2"#B& 1?& 10P?1#& 1_P>O=;=#& ??1C>& >?& CM=1#& 0S$& >??S& =1?& <$#& J#0#& "<>2=;SO& I& 21";$%2#& =1?& 0#C;0;1O%#B& I>& $1>& 1$%1& 1O& 1$J1O>& #& P12A#20S%;J#B& P<1$& d#I& 1O& =M>& <O>& P2#=<JJ;]O& ><=;#C;$<>?& $;2C1& %>0R;iO& P>2>& >J#0P>+>2& #& J#0P?101O%>2& 1O& C;C#& ?>& #R2>B& J#0#& 1$J1O#"2>AM>&#&1?101O%#&><=;%;C#B&I&P<1=1&>=10S$B&J#0#&1O&1?&J>$#& =1& ?>& C;=1#=>Ob>& #& 1?& J;O1W=>Ob>B& J21>2& <O& ?1O"<>U1& ;O%12=;$J;P?;O>2& P2#P;#D&j&1O&1$%1&0>%2;0#O;#&1O%21&?>&=>Ob>&I&1?&J;O1B&1O%21&1?&0<O=#& =1?&0#C;0;1O%#&I&1?&><=;#C;$<>?B&%1O10#$&%#=>CM>&#%2#$&%122;%#2;#$&P#2& 1_P?#2>2B&J#0#&?#$&0<$;J>?1$B&?>$&J?>$1$&0>1$%2>$&I&?#$&=#J<01O%>?1$& =1m$#R21mP>2>&?>&=>Ob>&I&$<$&P2#%>"#O;$%>$D h!#-"&1$&<O&P21A;U#&=1"1O&"2;1"#&V<1&d>J1&21A121OJ;>&>?&0#C;0;1O%#B& P#2&1??#&1O?>b>&=;21J%>01O%1&>?&J;O1&J#O&?>&g;Oi%;J>)B&I&1$&1?&O#0R21& P2#P;#&J#O&1?&V<1&R><%;Ji&>&1$%1&1$P>J;#&=1&1_P?#2>J;]O&=1&?>$&>2%1$&=1?& 0#C;0;1O%#B&V<1&=1C;O#&J#O&1?&%;10P#&1O&C;=1#%1J>&I&21A<";#&=1&#R2>$D&& 5?&P2#I1J%#&O>J1&1O&1?&'())&P#2&<O>&;OV<;1%<=&P12$#O>?B&>&P>2%;2&=1& <O#$& =#J<01O%>?1$& A2>OJ1$1$& d>??>=#$& 1O& A#20>%#& ,a7B& ?#$& J<>?1$& 21P#$>R>O& 1O& ?>& R;R?;#%1J>& =1& ?>& !?;>Ob>& N2>OJ1$>& =1& :<>I>V<;?B& ;O$%;%<J;]O&V<1&01&J1=;]&1?&><=;%#2;#&P>2>&#2">O;b>2&>?21=1=#2&=1&?>$& '(&P2;012>$&$1$;#O1$B&V<1&$#?M>O&%1O12&?<">2&J>=>&%12J12&U<1C1$&=1?&01$D&

"*+4)9,5:;/<?=>E=<>7@/A/BC4:D,5:;/7P=>J=<>7@/0/F:+:.;/S:4+).K,/5)/-,/,N+:4,/A/%-N.+4,S2T*;/F4))C2k/A/F,D42LL2:/oTC)L

o,./)52S2:*)./*lR)4:/87/Y/8</5)/).+)/C4:Y)S+:/+2+N-,5:/bt2*).cZ/

$ !"#$%& $"'$()'%$*+,+ -.$-/01/

2

33$4%(%&$560.78$

2

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

$

%# % . # # $ ! . # $ /


()*+,*,-)./0/BI:/(%%%/':7E

%.##$!.#$/

%"

$:4/#,4:-2*,/$)CC)4/A/uo,$)CC)4Q,*L, -O%i2P21%1&I&J#21]"2>A>&=1&=>Ob>&J#O%10P#2SO1>D&5$P1J;>?;b>J;]O& 1O& c1O=1OJ;>$& 9#O%10P#2SO1>$& =1& ?>& 8>Ob>B& =1& ?>& 4O;C12$;=>=& .>J;#O>?&=1&?>$&!2%1$&Z4.!n&!2"1O%;O>[n&J#O&<O>&?;J1OJ;>%<2>&1O& 9#0<O;J>J;]OD&8#J1O%1&<O;C12$;%>2;>&I&J<2>=#2>&=1?&K-.57B&J;O1& A#2#&=1&=>Ob>D&

E>&>J%;C;=>=&%<C#&J#0#&#RU1%;C#B&>?&;O;J;#B&">O>2&O<1C#$&P/R?;J#$&P>2>& ?>& =>Ob>B& I& J#O$;$%M>& k>?& ;"<>?& V<1& d>$%>& d#Ik& 1O& <O>& P2#I1JJ;]O& >R;12%>&I&"2>%<;%>B&=1&O#&0S$&=1&<O>&d#2>&=;1bB&>&?>&J<>?&?1&P2#$1"<M>& <O&J#OC12$>%#2;#&>R;12%#&>&%#=>$&?>$&;=1>$B&$1O$;R;?;=>=1$&I&O;C1?1$&=1& >J12J>0;1O%#&>?&0>%12;>?&J#0P>2%;=#D 5?&F2#I1J%#&h!#-"B&>?&=M>&=1&d#IB&$1&d>&J#OC12%;=#&1O&<O&1$P>J;#& P>2>& ?>& P<1$%>& 1O& J#0/O& =1& 21";$%2#$& =1& #R2>B& C;=1#W=>Ob>$B& =#J<01O%>?1$B&J;O1W=>Ob>B&J#2%#$&I&P;1b>$&=1&C;=1#W.*'85'9$(#*4 #& C;=1#>2%1& 1O& "1O12>?B& ?#J>?& I& 1_%2>OU12#D& 5O%21& ?#$& A;?01$& P2#I1J%>=#$& 1$%SO& ?24,59>'*4O+*4)$(I$643$17225(4C57'64Nb>>7564 F(*4P2$-4J,7(&64Z%52$)$6437*%4*(4*24*%#*($'756&1O%21&#%2#$&%>O%#$B& V<1& $1& J#OC;2%;12#O& 1O& 0>%12;>?& P1=>"]";J#& C>?;#$M$;0#& P>2>& ?>$&J?>$1$&V<1&d1&J#0P>2%;=#&1O&?>$&<O;C12$;=>=1$&1&;O$%;%<%#$& =#O=1&d1&%2>R>U>=#B&I&=>=>&?>&U12>2V<M>&=1&?>&C;$;]O&P#2&$#R21& ?#$&=10S$&$1O%;=#$B&1$%1&A#20>%#&P<1=1&21$<?%>2&0S$&>%2>J%;C#& 1O&$<&?1O"<>U1&>&J;12%#$&P/R?;J#$&01O#$&1_P12;01O%>=#$D&

9;Oi%;J#B&pV<1&0<1C1qD&>=UD&NM$D&F12%1O1J;1O%1&#&21?>%;C#&>?&0#C;0;1O%#D

)&

&')(;'5(&!+"

921#&A;20101O%1&V<1&=<2>O%1&1$%#$&>+#$&=1&JS%1=2>B&><OV<1& 0<I&=1&>&P#V<;%#B&1?&;0>";O>2;#&P#P<?>2&=1&?>&=>Ob>&P>2>& >?"<O>$&I&>?"<O#$&1$%<=;>O%1$B&$M&$1&d>&>R;12%#&>&O<1C#$&I& #%2#$&>2"<01O%#$&J#OJ1P%<>?1$&I&1$%i%;J#$D&&F#2&1$#&=>Ob#D& j&P#2&1$#&?1&P2#P#O"#&>&<$%1=&?1J%#2&V<1B&?>&P2]_;0>&C1b& V<1&$1&%#P1&J#O&<O&J<12P#&V<1&C>&P#2&?#$&P>$;??#$&=1&?>& <O;C12$;=>=& 0>2J>O=#& <O>& 2<%>B& $1& $;1O%>& ;OC;%>=>m#& >& J#0P>2%;2&<O&P#J#&=1&h!#-"B&1?&J;O1&A#2#&=1&=>Ob>D&


%) % . # # $ ! . # $ / & % 0 " $ '

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

El mundo de la

"*+4)9,5:;/<<=>J=<>7@/A/BC4:D,5:;/<P=>J=<>7@/A/%-N.+4,S2T*;/F4))C2k/

&')(;'5(&!+"

FantasĂ­a


()*+,*,-)./0/BI:/(%%%/':7E

a>RM>& <O>& C1b& <O>& O;+>& ??>0>=>& 7#AM>B& J#O& J<>?;=>=1$& 0>2>C;??#$>$B& 1_J1?1O%1&d;U>&I&0<I&$#+>=#2>B&1$&>$M&V<1&<O&=M>&A<1&>&<O&S2R#?&I&C;#& <O>& 0;O;& P<12%>D& 5??>& 1$%>R>& >$#0R2>=>B& V<12M>& 1O%2>2B& P12#& ?1& =>R>& 0;1=#&O#&P#=12&$>?;2D&7#AM>&$1&A<1&>&$<&J>$>&I&>?&??1">2B&?1&J#O%]&>&$<& 0>0S&?#&$<J1=;=#D&E>&0>0S&?1&21$P#O=;]Y&p7#AM>B&d>$&1OJ#O%2>=#&%<& J>0;O#qB&?1&1O%21"]&<O>&??>C1&I&?<1"#&=1$>P>21J;]D 7#AM>&1$%>R>&J#OA<O=;=>&J#O&?#&V<1&d>RM>&P>$>=#&I&O#&$>RM>&=]O=1& d>RM>& ;=#& $<& 0>0SD& 71& P<$#& >& ??#2>2& 1O& <O>& 1$V<;O>& =1& $<& J<>2%#& P#2V<1&$<&0>0S&12>&?#&0S$&;0P#2%>O%1&=1&$<&C;=>D&9<>O=#&?1C>O%]& $<&0;2>=>B&?<1"#&=1&C>2;#$&0;O<%#$B&$1&=;#&J<1O%>&V<1&d>RM>&<O&P>P1?& J12J>&=1&<O>&01$>&V<1&=1JM>Y&p7;&V<;121$&1OJ#O%2>2&>&%<&0>0SB&C>$&>& %1O12&V<1&R<$J>2&%#=>$&?>$&P;$%>$&I&J<>O=#&?>$&d>I>$&#R%1O;=#B&$>R2S$& P>2>&V<i&$;2C1&?>&??>C1&I&%<&0>0S&21"21$>2SqD 81$P<i$& =1& 1$%#B& 7#AM>& $1& V<1=]& 0S$& %2>OV<;?>B& P12#& >O"<$%;>=>& >?& 0;$0#&%;10P#&P#2V<1&=1RM>&1OJ#O%2>2&1$>$&P;$%>$D&7;O&1??#B&O#&C#?C12M>& >&C12?>{&&50P1b]&>&R<$J>2&P#2&%#=>&?>&J>$>&I&1OJ#O%2]&<O&P>P1?&J12J>& =1&$<&J>0>&J#O&<O&01O$>U1Y&p,>$&>&%1O12&<O&%;10P#&=1&%21$&d#2>$&P>2>& 1OJ#O%2>2&J;OJ#&P;$%>$B&I&1?&%;10P#&J#0;1Ob>&>d#2>f&E>%RHQSKH8%RQ:;8% 1$%S& 1O& <O& ?<">2& =#O=1& P<1=1$& ?112qD& 7#AM>& $1& P<$#& $<$& b>P>%#$& =1& J><Jd#B&$<&"#22>&I&">A>$B&P>2>&1_P?#2>2&I&$1&A<1&J#22;1O=#&>&?>&R;R?;#%1J>D& T<$J]&1O%21&?#$&?;R2#$&I&A;O>?01O%1&?>&1OJ#O%2]D&5O&<O>&%>2U1%>&1$%>R>& 1$J2;%#Y&p9211&1O&%;B&O<OJ>&P21%1O=>$&$12&V<;1O&O#&121$qD&&9<>O=#&?1I]& 1$%#B&>/O&O#&1O%1O=M>&?#&V<1&?>&C;=>&V<12M>&d>J12?1&1O%1O=12D&e<O%#&>& 1$%1&01O$>U1&d>RM>&<O&$#R21&=#O=1&1$%>R>&?>&$;"<;1O%1&P;$%>Y&pR<$J>&1O& <O&?<">2&=#O=1&P<1=>$&O>=>2qD&

%.##$!.#$/

%+

I&U<b">R>&>&V<;1O&O#&=1RM>B&P#2V<1&0<I&1O&1?&A#O=#B&O#&$>RM>&?#&V<1& P#=2M>&1$%>2&P>$>O=#D& 81$P<i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d#2>&=1$P<i$&$1&=;#&J<1O%>&V<1&I>&?1&V<1=>R>&0<I&P#J#&%;10P#&P>2>& 21$#?C12&%#=#B&>$M&V<1&$1&??1O]&=1&A<12b>B&=SO=#?1&C<1?%>$&>&?>&%>P>&=1&?>& J>U>B&d>$%>&V<1&?#"2]&P#2&A;O&>R2;2?>D&!??M&1$%>R>&#%2#&01O$>U1Y&pe>0S$& %1& =1$& P#2& C1OJ;=#B& ><O& J<>O=#& P;1O$1$& V<1& O#& 1$& P#$;R?1qD& 7#AM>& ?#& J#0P21O=;]&I&$1&>P<2]&P#2V<1&$#?#&?1&V<1=>R>O&)(&0;O<%#$D 7>?;]&>?&U>2=MO&I&$1&A;U]&V<1&%1OM>&>O%1$&$<$&#U#$&?>%dLQI;8%RQ:;8&1O&<O>& 2#$>&=1&J#?#2&R?>OJ#D&5O&<O#&=1&?#$&Pi%>?#$B&1O&<O>&?1%2>&0<I&J#OA<$>B& $1&?1M>Y&pa>b&?#"2>=#&>R2;2&?>&P<12%>&=1&%<&J#2>b]O&I&=1&%<&>?0>B&>&P>2%;2& =1&>d#2>&P#=2S$&$12&A1?;b&I&C1OJ12&%<$&0;1=#$qD& &&&&& 81&?>&O>=>&$#O]&<O>&>?>20>&=1&<O&=1$P12%>=#2D&7#AM>&$1&=;#&J<1O%>&V<1& d>RM>&%1O;=#&<O&$<1+#&I&V<1&$<&0>0S&1$%>R>&U<O%#&>&1??>B&C1?SO=#?>& 0;1O%2>$&=#20M>B&O<OJ>&$1&d>RM>&;=#D&81$=1&1$1&=M>B&7#AM>&C;C;]&$<&C;=>& =1&=;$%;O%>&A#20>&I&J#0P21O=;]&?>&;0P#2%>OJ;>&=1?&>0#2B&?>&C>?1O%M>&I& ?>&A1?;J;=>=D

7#AM>&$1&$1J]B&$1&C;$%;]B&$1&J#?#J]&$<&0>O=;?B&<O&"#22#&=1&Jd1A&I&A<1& J#22;1O=#&>&?>&J#J;O>D&T<$J]&1O%21&?>$&#??>$B&P?>%#$B&C>$#$&I&O>=>D&F12#& J12J>&=1&<O>&%>R?>&=1&P;J>2B&$1&%#P]&J#O&O8%;KHGKH8%RQ:;8Y&p.#&U<b"<1$& $;O&$>R12&?>&C12=>=qD&&5O&1$1&;O$%>O%1B&P1O$]&V<1&>&C1J1$&1??>&J2;%;J>R>&

$:4/(,-)*+2*,/([-)L/G,*42]N) ,>?1O%;O>& %;1O1& )(& >+#$& I& 1$& d;U>& =1& <O>& 1_>?<0O>&=1&49:D

&')(;'5(&!+"

E<1"#& =1& J#?#J>2$1& $<& %2>U1& =1& R>+#B& 7#AM>& J#";]& $<& %#>??>& I& A<1& J#22;1O=#&>&?>&P;$J;O>D&!?&??1">2B&$1&=1%<C#&I&C;#&?>%:K9LIJ8%RQ:;8&1O&1?& >"<>D&71&?>Ob]&=1&<O&$#?#&Jd>P<b]O&I&$#R21&<O&A?#%>=#2&1OJ#O%2]&#%2#& 01O$>U1Y&pa>b&?#&V<1&%1&d>">&A1?;bB&$;"<1&%<$&$<1+#$qD&&5$>$&P>?>R2>$&?>& d;J;12#O&21A?1_;#O>2&I&$1&P21"<O%]&$;&1??>B&=<2>O%1&$<$&)L&>+#$&=1&C;=>B& d>RM>&d1Jd#&J#$>$&V<1&21>?01O%1&?1&d<R;12>O&"<$%>=#&I&V<1&?>&d>JM>O& A1?;bD&81O%2#&=1&1??>B&$>RM>&V<1&1O&C>2;>$&#J>$;#O1$&O#&?#&d>RM>&d1Jd#D& !?&$>?;2&=1&?>&P;$J;O>B&$1&%#P]&J#O&#%2>&O#%>&1O&1?&P;$#B&V<1&=1JM>Y&pR<$J>& 1O&<O&?<">2&=#O=1&P<1=>$&J#J;O>2qD


%.##$!.#$/

"*/ )-/ .29N2)*+)/ C:)R,Z/ )-/ ,N+:4Z/ B-)m,*54:/ nm)5,Z/ O,S)/ O:*:4/ ,/ N*/ -:D:/ ).+)C,42:Z/ S:*/ )-/ ]N)/ +N3:/ )-/ C4232-)92:/ 5)/ )*S:*+4,4.)/ +2)RC:/ ,+4^.H/ nm)5,/ R)*S2:*,/ ]N)/ b,N*]N)/ .N/ ).S42+N4,/ )./ .)*S2--,Z/ QR SUHWHQGH WHQHU XQ VLJQL½FDGR N*K3:S:Z/5)m^*5:-:/,/-,/.NDm)+2325,5/ 5)-/ -)S+:4cp/ .2*/ )RD,49:/ ,94)9,/ ]N)/ .2/ )./ SN).+2:*,5:/ ,-/ 4).C)S+:Z/ 4).C:*5)4^/ ]N)/ b3)4.,/ .:D4)/ -,/ -2D)4+,5Z/-,/3)45,5)4,/-2D)4+,5cH $:4/B-)m,*54:/nm)5, 5$%<=;>O%1& =1& $1"<O=#& >+#& =1& ?>& J>2212>& =1& 9;1OJ;>$& F#?M%;J>$& =1& ?>& N>J<?%>=& =1& !=0;O;$%2>J;]O& I& 9;1OJ;>$& F#?M%;J>$& =1& ?>& 4O;C12$;=>=& 9>$>&:2>O=1&Z49:[D

1 ' 0 * (

&')(;'5(&!+"

F21$1O%>0#$&>&J#O%;O<>J;]O&<O&P#10>& J21>=#&P#2&?>&><%#2>B&1?&J<>?&21P21$1O%>&<O>& >?1"#2M>&>&?>&49:D

$:4/i,-R,/!:m,./!:54K9N)L 5$%<=;>O%1& =1& $1"<O=#& >+#& =1& ?>& J>2212>& =1& 9#0<O;J>J;]O& =1& ?>& N>J<?%>=& =1& 9#0<O;J>J;]O& =1& ?>& 4O;C12$;=>=& 9>$>& :2>O=1&Z49:[D

!"#$%& &'(&'()*#$%&+ pE?#2>B&$#?#&??#2> .#&d>I&0S$&O>=>&V<1&P12=12 -O=;"O;=>=&I&=1$d#O2> 7#O&J#0P<1$%#$&=1&%<&$12 7<A21B&$#?#&$<A21{ vx<i&%1&V<1=>&P#2&d>J12w& j>&=1&%#=#&d>$&;O%1O%>=# j&1?&A2>J>$#&%1&d>J1&>2=12 ,<1?>B&$#?#&C<1?> E1U#$&=1&%<&J<12P#&%1221O>? F#O&%<$&0>O#$&1O&?>&P<12%> ÄR21?>&=1&P>2&1O&P>2 vE#&C1$wB&v?#&d<1?1$w 5$&1?&S2R#?&=1&J121b#$ v?#&d<1?1$B&?#&$;1O%1$w 7<&P12A<01&%>O&;O%1O$# ,;?1$&=>0>$B&>&?#&?1U#$ 61=<J;iO=#$1&>&<O&21J<12=# 9#O$<0;=>$&P#2&?>&O>=> c<&$12&O<OJ>&%>O&=1$P;12%#

u521$&O;+#f&u521$&O;+#f c<&1$PM2;%<&%2;<OA>O%1 !P<+>?>=#&d>$&>&?>&J#OJ;1OJ;> !?J>Ob>=#&d>$&?>&?;R12%>=B&C12=>=12>&?;R12%>=&;O0>O1O%1 uE#&d>$&?#"2>=#f&u521$&?;R21f a>$&0>%>=#&>?&:2>O&=2>"]O&2#U# 81$P<i$&=1&$12&>$1Jd>=#&I&P<O;=# 9122>=#&d>$&1?&#U#&=1?&P>O]P%;J# 5$%S&?>&O>=>&>&%<&$12C;J;# 81U>$&=1&$12&$<&$1"<;=#2B&P>$>$&>&$12&$<&>0# @>O=>0;1O%#B&0#2>?B&?1I&I&J#OJ;1OJ;>& c#=#&1$&%2;$%1B&J#?i2;J#&21J<12=#&?1U>O# vx<;121$&1$%#&V<1&d1&#A21J;=#w .#&$12&0S2%;2B&01U#2&$12&=;#$ F<1$&?>&P<12%>&1$%S&>V<M&0;$0# 5O&1?&A#O=#&=1?&P>$;??# !?&J2<b>2?>&??1">2S$&>&?#&=;C;O# 9>0;O>&P#2&1?&P>$;??#B&0>O#&1O&1?&R#?$;??# a>J;>&>%2S$&d1Jd>&C;$%>b#B&$;O%;1O=#&$#?#&21Jd>b# 7<1O>&$<&0>O#&>?&>R2;2&?>&P<12%> !?&<OM$#O#&=1?&R>?>b# j>&1$%S$&=1?&#%2#&?>=#{

¿Y tú, de qué lado quieres estar? v,1O%>O>?1$w&7;O&J#2%;O>$B&uP#2&A>C#2f x<;12#&C12?#&%#=#B&V<;12#&V<1&O#$&C1>O&%#=#$D ux<1&$1&1O%121Of&ux<1&O#$&$1P>OB&V<1&?#&$1P>Of x<1&1$%>0#$&J21>O=#B&J21SO=#O#$D F12#&$#R21&%#=#B&>Z2[0SO=#O#$ 5$%1&1$&$#?#&1?&J#0;1Ob#D

"*+4)9,5:;/7?=>E=<>7@/A/BC4:D,5:;/>?=>J=<>7@/A/%-N.+4,S2T*;/F4))C2k//

1 ' 0 * (

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

"*+4)9,5:;/<<=>E=<>7@/A/BC4:D,5:;/7P=>J=<>7@

%$


?@A@ @BCDEF<

$'()*+&%

!"#$!$%&!'"()

% . # # $ ! . # $ / %%

()*+,*,-)./0/BI:/(%%%/':7E

789:

GCHFCF<

}&.<1$%2#&=#J1O%1&d#O#2>2;#B&F1%12&@<$$A1?=%B&A<1&01OJ;#O>=#&Z0#$%2>O=#& %>0R;iO&P;1b>$&=1&$<&><%#2M>[&1O&1?&?;R2#&E$4,7%-5'7$4)*24N7%*X54H'<87#564152"4 _"4`fgc4e4[5=6&=1&e1O$&@Ç??12&I&e<?;<$&y;1=10>OOB&V<;1O1$&1_P?#2>O&>&?#$& =;A121O%1$&=;$1+>=#21$&"2SA;J#$&=1$=1&?#$&Q(&d>$%>&d#I&}&:>?#&61J>?=1B& 1_>?<0O#&=1&49:B&">O]&1?&P210;#&>&p@1U#2&J#01=;>q&1O&E#$&ÄO"1?1$&N;?0& !`>2=$& P#2& ?>& P1?MJ<?>& L9*'7#$($h4}& )'& 1$%<=;>O%1$& =1& 49:& V<1=>2#O& A;O>?;$%>$&1O&1?&J#OJ<2$#&;O%12O>J;#O>?&!f&8;$1+#B&1O&=;$%;O%>$&J>%1"#2M>$D

I@FJ< }&81&?>&0>O#&=1&O<1$%2>&21J%#2>&!<=1?;>&a;"dB&?>&49:&A<1&P>2%1&=1&?>$& A;20>$&V<1&J#O$%>2#O&1O&?>&9>2%>&=1&81J?>2>J;]O&P#2&1?&8M>&-O%12O>J;#O>?&=1& ?>&@<U12B&1C1O%#&#2">O;b>=#&P#2&?>&4O;=>=&P>2>&9#0R>%;2&?>&,;#?1OJ;>&J#O%2>& ?>$&@<U121$&I&1?&1V<;P#&p!0;">B&I>&O#&1$%S$&$#?>q&}&.<1$%2>&C;J1221J%#2>& c;O>& r121">& A<1& <O>& =1& ?>$& P>O1?;$%>$& =1?& J#OC12$>%#2;#& p9>0;O#& >?& 10P21O=;0;1O%#qB& P#2& 1?& 8M>& -O%12O>J;#O>?& =1& ?>& @<U12& }& 71& 21>?;b]& 1?& ?>Ob>0;1O%#& =1?& P2#%#%;P#& =1?& U<1"#& 1=<J>%;C#& plP12>J;]O& :<>I>V<;?qB& 21>?;b>=#&J#OU<O%>01O%1&1O%21&?>&@<O;J;P>?;=>=&=1&:<>I>V<;?&I&?>&49:D

L

@HFKL

}& 5$%<=;>O%1$& =1& ?>& 4O;C12$;=>=& =1& a>2C>2=& C;$;%>2#O& 49:& P>2>& 21>?;b>2& (*-!5'V7(&& J#O& >?<0O#$& I& 1_>?<0O#$& }& 71& ??1C]& >& J>R#& @<1??1& E;0]O& P>2>&21J;R;2&>&?#$&O<1C#$&#$%$&'$()7(5%&}&49:&P210;]&>&H*&J#?1";>?1$&V<1& ">O>2#O&1?&J#OJ<2$#&=1&R1J>$&p4O&0>2&=1&P?S$%;J#q&}&71&P21$1O%]&?>&O<1C>& J>2212>&=1&:1$%;]O&=1&c>?1O%#&a<0>O#&01=;>O%1&<O>&#R2>&=1&0;J2#%1>%2#&1O& 1?&d#%1?&l2#&,12=1&}&71&=;J%]&%>??12&p8;$1+#&=1&F2#I1J%#$&7#J;>?1$qB&=;2;";=#&>& >=0;O;$%2>%;C#$&I&=#J1O%1$&=1&49:&}&!?<0O#$&=1&?>&J?>$1&=1&-OC1$%;">J;]O& 9<>?;%>%;C>&21>?;b>2#O&1_P#$;J;]O&$#R21&?>&;O1V<;=>=&I&C;#?1OJ;>&=1&"iO12#&1O&E>& T#%>&}&71&1O%21"]&21J#O#J;0;1O%#&>?&1$%<=;>O%1&=1&49:B&6#=2;"#&,>21?>B&P#2& d>R12&#R%1O;=#&1?&P2#01=;#&0S$&>?%#&1O&?#$&J<2$#$&=1&0>O1U#&=1&><=;1OJ;>$& =1&?>&10P21$>&K>O%>2&-R#P1&@1=;>&}&49:&1$%>R?1J;]&J#OC1O;#&J#O&9#0P2>$59& }& 49:& #2">O;b]& 1_P#$;J;]O& P#2& ?#$& L(& >+#$& =1& P<R?;J;=>=& 1O& 5J<>=#2& }& :2>J;>$& >?& J#OC1O;#& =1& J##P12>J;]O& 1O%21& ?>& @<O;J;P>?;=>=& =1& :<>I>V<;?& I& 49:B&$1&;O><"<2]&1?&F2#"2>0>&=1&61J21>J;]O&I&5$%;0<?>J;]O&@>%12O#&;OA>O%;?& ZF65@-[&}&E#$&=#J1O%1$&=1&49:B&@>2%d>&@<2">&I&aiJ%#2&T<U>O=>B&21J;R;12#O& 21J#O#J;0;1O%#&=1?&9M2J<?#&=1&F12;#=;$%>$&=1?&:<>I>$&}&E>&1$%<=;>O%1&=1&49:B& @>2M>&F><?>&@12>B&A<1&1?1";=>&P>2>&P>2%;J;P>2&1O&?>&6#"12&a>%Jd<1?&!J>=10I&=1?& N1$%;C>?&=1&9>OO1$&}&@;O;$%2#&=1&5J#O#0M>&I&N;O>Ob>$B&6;Jd>2=&@>2%MO1bB&C;$;%]& 49:&}&5?&=;$1+>=#2&.#2R12%#&9dSC1b&=;J%]&J#OA121OJ;>&1O&49:&}&5$%<=;>O%1$& 1_%2>OU12#$&=1&49:&21>?;b>2#O&P>$>O%M>$&=1&C;OJ<?>J;]O&J#O&?>&J#0<O;=>=&}& 49:&A<1&?>&$1=1&=1&?>&J<>2%>&1=;J;]O&=1?&J#OJ<2$#&p@>$%12&#A&8;";%>?&!2%$q&}& 8#J1O%1&=1&49:B&7>O%;>"#&c#2>?B&P21$1O%]&P#O1OJ;>&1O&F#2%<">?D

&')(;'5(&!+"

J

Y


%.##$!.#$/

I@M< }&E>&J>OJ;??12&=1&49:B&@>2J;>&:;?R12%B&C;$;%]&C>2;>$&<O;C12$;=>=1$&Jd;?1O>$& 1O%21">O=#&?>$&??>C1$&=1&P?>%>&>&-CSO&,;J<+>&I&92;$%;>O&T#2V<1bB&1_=#J1O%1$& =1&?>&5$J<1?>&=1&9#0<O;J>J;]O&@]O;J>&a12212>B&P#2&?#$&'L&>+#$&=1&49:&}&& 5?&J#O$1U12#&=1?&9.5B&E<;$&,12=1$#%#B&P21$1O%]&$<$&P2#P<1$%>$&=1&21A#20>$& >?&J]=;"#&=1&?>&=10#J2>J;>&1O&49:&}&E>&10P21$>&c<1O%;&J#OC#J]&>&>?<0O#$& =1& 49:& >& %2>R>U>2& 1O& J#OJ1P%#$& J21>%;C#$& I& =;$1+#$& & =1& ?>& 0>2J>& }& 71& #2">O;b]& 1_d;R;J;]O& 1_J?<$;C>& J#O& ?>$& ;=1>$& ">O>=#2>$& =1& 9>OO1$& E;#O$& 5=;%B&1O&?>$&J>%1"#2M>$&F2;O%&I&l<%=##2$&}&:<;=#&9d;2;R#">B&=#J1O%1&=1&?>& 49:B&=;J%]&J#OA121OJ;>&1O&?>&l2">O;b>J;]O&=1&5$%>=#$&!012;J>O#$&Zl5![&}& e#$i&9>0P#$>O#B&P21$;=1O%1&=1&?>&9S0>2>&.>J;#O>?&=1&!J<>J<?%<2>B&=;J%]& Jd>2?>&$#R21&1?&$1J%#2&J>0>2#O12#&}&F2#A1$;#O>?;b>O%1$&=1&!=0;O;$%2>J;]O& ;O;J;>2#O&J#O&1?&%>??12&=1&=1$P12%>2&J21>%;C#B&?>&1_P12;1OJ;>&=1&>P21O=;b>U1& 5?&.;=#&F2#B&J#0#&$<&P2#J1$#&=1&%;%<?>J;]O&}&E>&21J%#2>&I&C;J1221J%#2>&=1& 49:B&!<=1?;>&a;"d&I&c;O>&r121">B&21$P1J%;C>01O%1B&P>2%;J;P>2#O&1O&9<0R21& @<O=;>?& =1& @<U121$& }& 7<?11O& 8M>b& P>2%;J;P]& 1O& ?>& )\C>& 9#OA121OJ;>& -O%12O>J;#O>?&1O&9;1OJ;>$&7#J;>?1$&ZF#2%<">?[&P21$1O%>O=#&<O>&P#O1OJ;>D X

W

)D&9#O&1?&P2#P]$;%#&=1&=1$>22#??>2&<O&C#%#&J#O$J;1O%1&1O&?>$&1?1JJ;#O1$&=1?&'3&=1&0>2b#& '()*B&?>&49:&I&?>&9S0>2>&=1&9#012J;#&=1&:<>I>V<;?&#2">O;b>2#O&<O&=1R>%1&1?&'^& =1&A1R212#&J#O&?#$&J>O=;=>%#$&>&?>&F21A1J%<2>&P#2&?>&P2#C;OJ;>&=1?&:<>I>$Y&!?A21=#& !=<0B&91J;?;>&9>?=12]OB&F;12;O>&9#221>B&E1#O>2=#&5$J#R>2&I&F#?I&4">2%1D&@#=12>2#OB& N2>OJ;$J#&a<12%>&I&@;2;>0&5$%2>=>D&@>2J;>&:;?R12%B&9>OJ;??12&=1&?>&49:&U<O%#&>&F>R?#& !2#$101O>B&F21$;=1O%1&=1&?>&9S0>2>&=1&9#012J;#&=1&:<>I>V<;?B&=;12#O&?>&R;1OC1O;=>D& 'D&5$%<=;>O%1$&=1&?>&J>2212>&=1&61J<2$#$&a<0>O#$&#2">O;b>2#O&1?&1C1O%#&=1&;O%1"2>J;]O& pE;%%?1&a12#1$qB&=;2;";=#&>&?#$&d;U#$&1O%21&J;OJ#&>&=#J1&>+#$&=1&=#J1O%1$&I&=1&P12$#O>?& >=0;O;$%2>%;C#&=1&49:D HD&F#2&$<$&21?1C>O%1$&>P#2%1$&>?&R;1O1$%>2&=1&?>&P#R?>J;]O&1J<>%#2;>O>B&?>&49:&1O%21"]&>& T121O;J1&9#2=12#&1?&%M%<?#&=1&p@>"M$%12&a#O#2;$&9><$>&1O&:1$%;]O&7#J;>?&I&81$>22#??#qD& 3D&p81?&1$%;"0>&>&?>&;OJ?<$;]OY&0;&%1$%;0#O;#q&1$&1?&?;R2#&V<1&1?&82D&6#=2;"#&921$P#&c#2>?& P21$1O%]&1O&?>&49:&1?&)Q&=1&0>I#&=1&'()*B&$#R21&?>&=;$J>P>J;=>=D LD&5O%21&A1R212#&I&0>2b#&=1&'()*B&?>&J>2212>&=1&8;$1+#&:2SA;J#&I&9#0<O;J>J;]O&,;$<>?& 21>?;b]&<O>&O<1C>&1=;J;]O&=1&9D6D!DNDcD&=#O=1&?#$&1$%<=;>O%1$&P2>J%;J>2#O&$<$&=1$%21b>$& =1&=;R<U#&J#O&0#=1?#$&1O&C;C#D QD&5$%<=;>O%1$&=1&8;$1+#&:2SA;J#&Ze<>O&,>?1OJ;>B&K>=I>&@1O>JiB&!O=2i$&@1O=#b>B&K12$%;O& 81&61;$1%&I&8#0iO;J>&@>O#$>?C>$[&">O>2#O&1?&J#OJ<2$#&=1&0<2>?1$&#2">O;b>=#&P#2&?>& N<O=>J;]O&61;O>&=1&:<>I>V<;?D&9>=>&<O#&21J;R;]&<O&-F!8&c>R&\&=1&E1O#C#D ^D&5_>?<0O#$&=1&49:&?#"2>2#O&#J<P>2&J>2"#$&P/R?;J#$&1O&?>$&1?1JJ;#O1$&=1&0>I#&'()*Y& 9>2?#$&E<;$&@#2>?1$B&P21A1J%#&=1?&:<>I>$n&e#$<i&7SOJd1bB&C;J1>?J>?=1&=1&:<>I>V<;?n&I& !O=2i$&:<$Jd012B&J#OJ1U>?&=1&:<>I>V<;?D

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

V

NODK< }&E>&J#0<O;=>=&#$%$&'$()7($&2;O=;]&d#01O>U1&>&,MJ%#2&91C>??#$B&V<;1O& ?>R#2]&1O&49:&P#2&'Q&>+#$&}&5$%<=;>O%1$&=1&49:B&e#$i&,;O<1b>B&50;?;#&8>"12B& ,>?1O%;O>&e<1b&I&e#2"1&E<;$&N>U>2=#B&P21$1O%>2#O&$<$&=;$1+#$&=1&J>0;$1%>$& =1&?>&0>2J>&c<1O%;&}&49:&;OC1$%;">&U<O%#&>&:2<P#&N>2#&I&9#2P#C;$;#O>2;#$& ?>&J<?%<2>&<O;C12$;%>2;>&}&-$>R1?>&F#OJ1B&1_>?<0O>&=1&49:&I&J#A<O=>=#2>& =1& :KB& $1& =;2;";]& >& 0>1$%2>O%1$& =1& F12;#=;$0#& $#R21& ?>& 21O%>R;?;=>=& =1& P2#I1J%#$& P12;#=M$%;J#$& }& 9?><=;>& 5$J#2J;>B& 1_P12%>& ;O%12O>J;#O>?& 1O& F2SJ%;J>$&91O%2>=>$&1O&?>&N>0;?;>B&=;J%]&1?&J<2$#&p.<1C#$&P>2>=;"0>$&1O& !%1OJ;]O& c10P2>O>Y& d>J;>& ?>& J#O$%2<JJ;]O& =1& 1O%#2O#$& J#0P1%1O%1$q& }& 71&21>?;b]&P#2&$1"<O=>&1=;J;]O&1?&1C1O%#&p9>U>&F#?M%;J>qB&P>2>&10P#=12>2& >&?#$&U]C1O1$&$#R21&?>&=10#J2>J;>B&P#?M%;J>&I&1?&=1$>22#??#&}&71&#2">O;b]&1?& J#OC12$>%#2;#&pF$;J#?#"M>&=1&?>$&0>$>$B&1_%;0;=>=&I&$;O"<?>2;=>=B&d#Iq&}& ,>?12;>&:>?>2b>B&1$%<=;>O%1&=1&49:B&21P21$1O%]&>&5J<>=#2&1O&1?&J#OJ<2$#& p-O%12O>%;#O>?& 9#0;Jm@>O">& 7Jd##?& 9#O%1$%q& =1& e>P]O& }& !?<0O#$& =1& 9>$#$&,--&&,---&=1&9#0<O;J>J;]O&%2>R>U>2#O&P>2>&?>&?;0P;1b>&=1&?>$&P?>I>$&=1?& :<>I>$&}&71&21>?;b]&F<12%#&.>2>OU>&'()*&}&71&21>?;b]&1?&A#2#&pa>R?10#$&=1& U]C1O1$&I&?>&J<?%<2>&%2>=;J;#O>?q&}&@1?;$$>&4$J#J#C;JdB&!?1_>O=2>&9d>OJ>IB& F>#?>& @>%<%1& I& @>2M>& N12O>O=>& ,;??>J;$B& "2>=<>=>$& =1& ?>& 49:B& A<12#O& 1?1J%>$&P>2>&21J;R;2&1?&">?>2=]O&y#01O&%#&y>%JdD& Z

N#%#& N>I>O1b&@>2%MO1b

N#%#& hU#$<1$>OJd1bJ>0P#$>O#& ZN>J1R##g[

N#%#& @1%2#&5J<>=#2

"*+4)9,5:;/7<=>P=<>7@/A/BC4:D,5:;/7<=>P=<>7@/0/F:+:.;/S:4+).K,/5)/-,/Q24H/5)/#:RN*2S,S2T*

!"#$!$%&!'"()

%&


SALÓN

JP


&'*%"!&(&!+"

%' / - , & '

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

"#.'(/$%"%12# +(.#3&(.!#+%

($."#.()4/#/*0$ " ' j ! " ( % i j B $:4/G,4K,/#42.+2*,/B*54,5)

',+,-K/iSO)m+R,*Z/C)42:52.+,/).C)S2,-2L,5,/ )*/ R)52:./ Y/ SN-+N4,Z/ R^.+)4/ )*/ G)52,/ ,*5/ #:RRN*2S,+2:*./ S:*/ R)*S2T*/ )*/ #:RRN*2S,+2:*/ 6:3)4*,*S)/ Y/ ]N2)*/ ,5)R^./)./$4:5NS+:4,/)m)SN+23,/5)/$4:Y)S+:./ Q292+,-)./ 5)/ #,*,-/ "*SN)*+4:Z/ R)52:/ )5NS,+23:/ Y/ SN-+N4,-/ 5)-/ i2.+)R,/ F)5)4,-/ 5)/ G)52:./ Y/ #:*+)*25:./ $lD-2S:./ 5)/ B49)*+2*,Z/ *:./ O,D-,/ .:D4)/ )5NS,S2T*/ )*/ )*+:4*:./ 324+N,-)./ Y/ .N/ 2RC:4+,*S2,/ )*/ -:./ C4:S).:./ ,/ 52.+,*S2,H/ "*+4)32.+,R:./ ,/ iSO)m+R,*/ )*/ :S,.2T*/ 5)/ .N/ 32.2+,/ ,/ -,/ 1#6/ C,4,/ 52S+,4/ -,/ S:*\)4)*S2,/ b#:*S)C+N,-2L,S2T*/Y/S4),S2T*/5)/).C,S2:./ 324+N,-)./C,4,/-,/)5NS,S2T*/,/52.+,*S2,cZ/)-/ GH HQHUR GH HQ HO (GL½FLR 0D\RU =LZI;KSK%LI%R4G4%:4WHK%=8I8O%-IGLKI;H4p 5$&<O&J>O>?&1=<J>%;C#&=1&%1?1C;$;]O&>2"1O%;O#B&?>Ob>=#&1?&L&=1&0>2b#&=1&'((^B&=1P1O=;1O%1& =1?&@;O;$%12;#&=1&5=<J>J;]OD&9<>O=#&10P1Ji&>&%2>R>U>2&>dM&d>JM>&P2#I1J%#$&;O%12>J%;C#$& ><=;#C;$<>?1$B&P12#&$1&R<$J>R>&V<1&;OO#C>2>OD 4O#$&=1&?#$&1U10P?#$&0S$&;0P#2%>O%1$&A<1&$1?1JJ;#O>2&<O>&P1?MJ<?>&P2#=<J;=>&P#2&1?&J>O>?&I& =;C;=;2?>&1O&P>2%1$B&P>2>&1O%21">2?1&>&?>$&1$J<1?>$D&E#$&1$%<=;>O%1$&=1RM>O&1?1";2&<O>&1$J1O>&


/ - , & ' %(

i=L]OK:% :4I% O8:% ;KIJKIGQ8:% KI% GL8I;4% 8% KJLG8GQ\I%*-'"-$j 5?& P>O#2>0>& 0<1$%2>& V<1& d>I& P?>%>A#20>$& =1&J<2$#$&C;2%<>?1$&V<1&1$%SO&1_P>O=;iO=#$1B& V<1& 1O$1+>O& d>R;?;=>=1$& 0<I& P2SJ%;J>$& I& 1$P1JMA;J>$D& F#2& 1U10P?#B& ;0P>2%1O& <O& J<2$#& =1&J]0#&21>?;b>2&A#%#"2>AM>&P2#A1$;#O>?&=1$=1& <O&%9$'-,.,5(*B&#&>O;0>J;]O&=;";%>?&J#O&<O& P2#"2>0>&1O&P>2%;J<?>2D&7#O&>P%;%<=1$&/%;?1$& P>2>& ?>& ;O$12J;]O& ?>R#2>?& I& P>2>& 1_P?#%>2& 1?& %2>R>U#&;O=1P1O=;1O%1D& E<1"#& 1$%SO& ?>$& P?>%>A#20>$& =1& 1=<J>J;]O& >& =;$%>OJ;>& J#0#& 9#<2$12>B& V<1& 1$& ";">O%1B& I& 1_;$%1O& #%2>$& V<1& C>O& J21J;1O=#D& E>$& <O;C12$;=>=1$&0S$&P21$%;";#$>$&%>0R;iO&1$%SO& #A21J;1O=#& J<2$#$& =1& 1=<J>J;]O& J#O%;O<>& >C>?>=#$& P#2& 1$%>$& ;O$%;%<J;#O1$B& P>2>& 1?& P/R?;J#&1O&"1O12>?n&$#O&J#0#&%<%#2;>?1$&V<1& 1_P?;J>O&1O&)L&0;O<%#$&<O>&;=1>&J#0P?1U>D& ?[% ;KIQKIJ4% KI% GLKI;8% dLK% K:;4:% GLH:4:% :4I%W8:;8I;K%K:RKGXUQG4:[%iK:%G4IYKIQKI;K% QIGOLQH%G8J8%LI4%JK%KOO4:%KI%KO%GLHHXGLOLSj% 81P1O=1B& P#2& 1U10P?#& 1O& E;Og1=;O& 1$%SO& P#O;1O=#& ?#$& J<2$#$& 21>?;b>=#$& >& %2>Ci$& =1& 9#<2$12>B& V<1& d#I& 1$& ?>& J12%;A;J>J;]O& 0S$& P#P<?>2& 1O& 1$%>& 21=& $#J;>?n& 1$& <O>& J<1$%;]O& =1& ><%#& ?1";%;0>J;]OD& F12#B& $M& 1$& <O>& 1$%2>%1";>& =1& ?>$& 10P21$>$& J#O& $<$& 10P?1>=#$&P2#0#C12&V<1&1??#$&d>">O&J<2$#$& I&>=V<;12>O&O<1C>$&d>R;?;=>=1$n&1$&$1OJ;??#&I& 1J#O]0;J#&P>2>&1?&10P?1>=#2D k8T%GLH:4:%dLK%:K%RLKJKI%;4S8H%LI8%YKV% 8% O8% :KS8I8[% iP8:;8% dLZ% RLI;4% K:;4% K:%

U8G;QWOK% :QI% 4G8:Q4I8H% dLK% KO% L:L8HQ4% :K% 4OYQJK%JKO%G4I;KIQJ4%dLK%YQ4j @<Jd>$& C1J1$& ?>$& P?>%>A#20>$& d>J1O& <O& $1"<;0;1O%#B& %1& 0>O=>O& J#221#$& =1& >?12%>& P>2>&V<1&21"21$1$&>&%#0>2&1?&J<2$#D&7;&C>&>&$12& A>J%;R?1&#&O#B&1$#&=1P1O=1&=1&0<Jd>$&J#$>$B& d>I& J<2$#$& V<1& "1O12>O& <O>& J12%;A;J>J;]OB& V<1& >& C1J1$& 1$& #A;J;>?& I& #%2>$& C1J1$& O#D& 7;O& 10R>2"#B&1?&%10>&P2;OJ;P>?&$#R21&?>&A>J%;R;?;=>=& =1&?#$&J<2$#$&C;2%<>?1$&1$&P21"<O%>2$1&$;&<O#& 21>?01O%1&V<;121&>P21O=12&#&O#D& "4WHK%O4:%G8I8OK:%JQHQ9QJ4:%K:RKGXUQG8SKI;K% 8%K:;LJQ8I;K:%JK%K:GLKO8:%4%G4OK9Q4:[%idLZ% K:;H8;K9Q8:% :K% K:;]I% KSROK8IJ4% R8H8% dLK% KOO4:%HK9HK:KI%8%YKH%KO%G4I;KIQJ4j 5$&<O>&R<1O>&P21"<O%>D&a>I&V<1&%1O12&1O&J<1O%>& V<1&1O&J>=>&P2#I1J%#&1?&%;10P#&1$&1$J>$#&I&1?& P21$<P<1$%#& 1$%21Jd#B& I& <O& J>O>?& %;1O1& J#0#& P2;012& #RU1%;C#& P2#=<J;2& P2#"2>0>$D& 5O%#OJ1$B& ?#&V<1&C;1O1&=1$P<i$&=1&1$>&P2#=<JJ;]O&0<Jd>$& C1J1$&O#&1$&$<A;J;1O%101O%1&P#O=12>=#B&P#2&?#& V<1&?>&1$%2>%1";>&=1&>%2>12&>&?#$&Jd;J#$&>&C12&1$1& P2#"2>0>&>&C1J1$&V<1=>&1O&<O&$1"<O=#&P?>O#D E#$& J>O>?1$& 1=<J>%;C#$B& J<>O=#& 12>O& =1?& @;O;$%12;#&=1&5=<J>J;]OB&d>RM>&<O&J;2J<;%#&V<1& ??1C>R>& 1$#$& P2#"2>0>$& >?& ><?>D& 5O%#OJ1$B& ?#$& =#J1O%1$&?#$&<$>R>O&0S$n&1$#&1$&<O>&1$%2>%1";>B& 1$&=1J;2?1$Y&p81&>JS&1$%<=;>$qD& 81$P<i$& d>I& <O>& J<1$%;]O& =1& J#0<O;J>J;]OB& =1&P#O12&%>0R;iO&1?&0>%12;>?&1O&21=1$&$#J;>?1$D& 5$%#& 1$& #%2>& 1$%2>%1";>& P>2>& ?#"2>2& V<1& ?#$& U]C1O1$& J#O$<0>O& 1$#$& J#O%1O;=#$& I& V<1& $1>O& >%2>J%;C#$& P>2>& 1??#$B& ;OJ?<$#B& <%;?;b>O=#& P?>%>A#20>$& `1R& J#O& <O>& 21?>J;]O& 0S$& ?/=;J>& J#O&1?&J#O#J;0;1O%#B&V<1&P2#C#V<1O&V<1=>2$1& 1O&1$#$&$;%;#$D 5_;$%1&<O>&J#0P1%1OJ;>&A12#b&=1&$>J>2&>=1?>O%1& 1$%#$& J#O%1O;=#$B& P<1$& ><OV<1& 1?& 0>%12;>?& 1$&

&'*%"!&(&!+"

I&21d>J12?>B&>&%2>Ci$&=1&<O>&P?>%>A#20>&1O&?>& V<1&d>RM>&%<%#2M>$&$#R21&J]0#&A;?0>2B&%iJO;J>$& =1& >O;0>J;]OB& 1O%21& #%2>$D& N<1& <O& P2#I1J%#& 1_;%#$#&V<1&$1&<$]&0<Jd#&1O&1?&><?>D

21?1C>O%1&I&R<1O#B&O#&%#=#$&?#&$>R1On&d>I&V<1& ;O$;$%;2B& =;A<O=;2& 1& ;=1>2& 1$%2>%1";>$& =;";%>?1$& I&O#&=;";%>?1$D ik8T%4;H8:%K:;H8;K9Q8:%8R8H;K%JK%K:4j F2;012#& I& P2;OJ;P>?B& V<1& 1?& J#O%1O;=#& $1>& R<1O#D& c1OM>0#$B& P#2& 1U10P?#B& ?>& $12;1& =1& A;JJ;]O& 3'*%*(-*%B& V<1& %<C#& =#$& %10P#2>=>$& I& ?#$& Jd;J#$& ?>& P1=M>On& %<C#& 0>I#2& >J#";=>& >A<12>&=1?&><?>B&P<1$&1?&#$%-7(&&=1&>J%#21$&$1& 21?>J;#O>R>&>&?#&V<1&>&1??#$&?1$&"<$%>R>D&4O>& C1b&1$%21O>=>&1O&P>O%>??>B&$1&?>Ob]&1O&j#<%<R1D "4WHK%28;QI48SZHQG8[%iP8GQ8%J\IJK%Y8S4:% KI%GL8I;4%8%KJLG8GQ\I%*-'"-$j 5$>$&P21"<O%>$&01&=>O&0;1=#B&P#2V<1&O#&01& "<$%>&d>J12&A<%<2#?#"M>B&1?&J>0;O#&$1&?#&d>J1& >?&>O=>2D& 9?>2>01O%1B&?>$&<O;C12$;=>=1$&1$%SO&C;1O=#&<O>& P<O%>& =1& O1"#J;#& 1O& 1$%#& I& d>I& P?>%>A#20>$& 1$P1JMA;J>$&J#0#&921d>O>&V<1&1$%S&><01O%>O=#& 0<JdM$;0#B&P#2V<1&%;1O1&<O>&;O%12A>b&??>0>%;C>& I& J<2$#$& >%2>J%;C#$& #2;1O%>=#$& d>J;>& ?>$& >2%1$& I& ?>& J21>%;C;=>=D& 5O%#OJ1$B& O#$& =;2;";0#$& d>J;>& <O& P<O%#& 1O& V<1& V<;bS& $1& A#2%>?1bJ>O& ?>$& J12%;A;J>J;#O1$D&c>?&C1b&O#$&1O$1+>2SO&d>R;?;=>=1$& P1V<1+>$& I& P<O%<>?1$B& I& $1& A#01O%>2SO& 1$%#$& %2>R>U#$&;O=1P1O=;1O%1$D& !$M& 0;$0#B& $1& P<1=1& O#%>2& V<1& 1?& 10P?1#& 1$& <O#& =1& ?#$& A>J%#21$& V<1& 0S$& J>0R;#$& 1$%S& P>=1J;1O=#& =1R;=#& >& ?>& %1JO#?#"M>B& P#2& ?#& %>O%#B& 1?& %2>R>U#& I& ?>& A#20>J;]O& 1$%SO& J#221?>J;#O>=#$D& .#& $i& J?>2>01O%1& d>J;>& =]O=1&C>&?>&1=<J>J;]O&1O&?MO1>B&P12#&$i&V<1& $<& 21=1A;O;J;]O& $12S& P>2%1& =1& <O>& 21A?1_;]O& 0<I&P2#A<O=>&$#R21&?#&V<1&1$%S&P>$>O=#&J#O& 1?&10P?1#&1O&1?&$;"?#&')D

"*+4)9,5:;/<<=>7=<>7@/A/BC4:D,5:;/<>=>8=<>7@/0/F:+:.;/GH#H/B*54,5)

()*+,*,-)./0/BI:/(%%%/':7E


&'*%"!&(&!+"

&#

/-,&'

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

/5%%!#10/6!( ,-./-012342546/6 67.-8794164:;1<579/-67-./-976/004=2

`M8H8%SX[% P8GKH%LI8%KI;HKYQ:;8 K:%P8GKH%LI8%R8L:8[ %P8T%dLK%K:GLGP8Ha

/\QQH :DONHU SHULRGLVWD ½QDOLVWD DO SUHPLR 3XOLW]HU HQ HO IDFLOLWy XQ +,--)4/)*/-,/1*23)4.25,5/#,.,/64,*5)/`1#6aZ/-:./5K,./7E/Y/7J/5)/)*)4:/5)/<>7@Z/ )*/)-/]N)/S:RC,4+2T/S:*/C4:\).2:*,-)./5)/52\)4)*+)./R)52:./5)/S:RN*2S,S2T*Z/ +[S*2S,./Y/O)44,R2)*+,./C,4,/-,/Dl.]N)5,/Y/)-/,SS).:/,/-,./\N)*+).H BS+N,-R)*+)Z/v,-k)4/)./$4).25)*+,/Y/Q24)S+:4,/"m)SN+23,/5)/%*]N24)/F24.+Z/N*/ S)*+4:/5)/S,C,S2+,S2T*/C,4,/C)42:52.+,./S:*/.)5)/)*/i,*/Q2)9:Z/#,-2\:4*2,Z/ ".+,5:./1*25:.H

iCLZ%KIG4I;H\%KI%KO%RKHQ4JQ:S4%dLK%:QI;Q\%I4%QW8%8%P8OO8H%KI%4;H8%RH4UK:Q\Ij c1O"#&<O>&J<2;#$;=>=&;O$>J;>R?1&I&1?&P12;#=;$0#&01&P120;%;]&d>J12&P21"<O%>$&>& %#=#$n&21>?01O%1B&1O&0<Jd>$&P2#A1$;#O1$&1$%#&O#&1$&0<I&>P2#P;>=#&I&>&0M&01& "<$%>B&%1O"#&J<2;#$;=>=B&V<;12#&$>R12&I&01&>"2>=>&d>R?>2&J#O&?>&"1O%1D

"*+4)32.+,/C:4/G)4SY/',4), E;J1OJ;>=>& 1O& F12;#=;$0#& J#O& 01OJ;]O& 1O& 9;1OJ;>$& F#?M%;J>$& =1& ?>& 4O;C12$;=>=& 9>$>& :2>O=1&Z49:[D&!<%#2>&=1?&?;R2#&?25=4C$'*$/4*24 $'-7%-$D&!J%<>?01O%1&?>R#2>&1O&?>&8;21JJ;]O& :1O12>?&=1&9#0<O;J>J;]O&=1&?>&49:D


/ - , & ' &" $>%;$A>JJ;]O& I& 01& 1O$1+]& V<1& $M& P<1=#& d>J12?#B& I& A<1& "2>O=;#$#& P>2>&0MD & .#&;0P>J%]&1O&O;O"<O>&A#20>&0;$&P#$;R;?;=>=1$&=1&%1O12&#%2#$&%2>R>U#$&1O& 01=;#$&0S$&"2>O=1$B&P12#&01&=;#&?>&$>%;$A>JJ;]O&=1&$>R12&V<1&$M&$1&P<1=1D&

i=\S4%KOK9X8%O4:%;KS8:%T%O8:%PQ:;4HQ8:%8%;H8W8b8Hj

i=L]I;4%;QKSR4%:K%JKS4H\%KI%P8GKH%O8%%$&*%,$%8(j

a>I&V<1&1O%1O=12&?>&><=;1OJ;>&=1&J>=>&<O#&I&V<i&;OA#20>J;]O&1$%S& R<$J>O=#D&9<>O=#&1$%>R>&1O&@i_;J#B&1$J2;R;1O=#&P>2>&<O>&><=;1OJ;>& =1& 5$%>=#$& 4O;=#$B& R<$J>R>& >$<O%#$& V<1& 1$%iO& P>$>O=#& 1O& @i_;J#B& P12#&V<1&$1>O&21?1C>O%1$&P>2>&"1O%1&1O&9>?;A#2O;>&I&1O&#%2#$&1$%>=#$D & 7;&01&$;1O%#&1O&0;&#A;J;O>B&1$J<Jd>O=#&?>&2>=;#B&?1I1O=#&1?&P12;]=;J#B&1$#&O#& 01&C>&>&=>2&<O>&;=1>D&.1J1$;%#&1$%>2&A<12>B&=#O=1&?>&"1O%1&1$%S&d>R?>O=#D&5O& 01=;#&=1&<O>&1O%21C;$%>&?>$&P12$#O>$&01&=;J1OY&p7>R1$&?#&V<1&I#&1$J<Jdi& 1?&#%2#&=M>{qB&I&10P;1b>O&>&J#O%>2&>?"#&I&P;1O$#&p1$#&1$&<O>&O#%>qB&I&>$M& J#0;1Ob#&>&P21"<O%>2&=]O=1&P<1=#&J#O$1"<;2&?>&;OA#20>J;]OD

lJd#& 01$1$B& P12#& #Jd#& 01$1$& 1O& ?#$& V<1& 1$%>R>& I1O=#& >& 5$%>=#$& 4O;=#$&I&21"21$>O=#&>&@i_;J#D&j>&1$%>R>&??1">O=#&>?&A;O>?&=1?&>+#&I& %<C1&V<1&%120;O>2B&P#2V<1&d>I&V<1&P<R?;J>2&1O&1?&0;$0#&>+#D&.#$&A<1& 0<I&R;1OB&A<1&<O>&1_P12;1OJ;>&0<I&1$P1J;>?D

iCLZ%K:%O4%dLK%S]:%OK%P8%KI:K38J4%KO%RKHQ4JQ:S4j !&O<OJ>&21O=;201B&O<OJ>D 7;& 01& =;J1O& V<1& O#B& 0S$& 01& >O;0>& 1$>& P>?>R2>B& 0S$& C#I& >& R<$J>2& 1$>&21$P<1$%>D&71&01&d>&V<;%>=#&0<Jd#&1?&%10#2&=1&>J12J>201&>&<O>& P12$#O>B&=1&;2&>&<O&?<">2&=;AMJ;?B&P#2V<1&$;1O%#&V<1&%1O"#&<O>&0;$;]O& I&?#&C#I&>&d>J12D -I%KO%;8OOKH[%K_RL:4%O8%HL;8%dLK%:Q9LQ\%R8H8%OOK98H%8%G8J8%LI8% JK%O8:%ULKI;K:%GKHG8I8:%8%LI%I8HG4;H8UQG8I;K5%i=\S4%YKIGQ\%KO% SQKJ4%8O%G4I;8G;8H:K%G4I%KOO4:j 5O&1?&0#01O%#B&%2>%#&=1&J>?0>201&I&01&P21"<O%#&V<i&1$&21>?01O%1& ?#& V<1& 01& =>& PSO;J#B& $;& d>I& <O>& >01O>b>& #& $;& 1$%#I& J21>O=#& 1$%1& 0;1=#&1O&0;&P2#P;>&01O%1B&1&;O%1O%#&J#O%2#?>2?#D&7;&21>?01O%1&d>I&<O>& >01O>b>B&O#&=#I&O;&<O&P>$#&>=1?>O%1B&%1O"#&V<1&P>2>2n&P12#&0<Jd>$& C1J1$&$1&J21>&1$1&%10#2&1O&O<1$%2>&A#20>&=1&P1O$>2B&?#&V<1&1$&0<I& O>%<2>?B&1O%#OJ1$&R<$J#&%2>OV<;?;b>201&I&21A?1_;#O>2&$#R21&V<i&1$&?#& V<1&01&1$%S&=>O=#&0;1=#D "L%:KHQK%JK%GL8;H4%HKR4H;8bK:%`DK8HJ:;4FI%7%,KUOKb4%JK%LI8% 0SZHQG8%KI%G8SWQ4$%;KI:Q\I%KI%KO%8QHKa[%OK%RKHSQ;Q\%:KH%UQI8OQ:;8% 8O%RHKSQ4%MLOQ;VKH%KI%KO%<))6[%iG\S4%QSR8G;\%KI%:L%YQJ8%T% G8HHKH8%K:;K%O49H4j @1& =;#& <O& 1O#201& #2"<??#& P12$#O>?& I& P2#A1$;#O>?B& P#2V<1& d;J1& ?>& $12;1& $#?>D& 9?>2#& V<1& d>RM>& 1=;%#21$& V<1& d>R?>R>OB& P12#& O#& %1OM>&1?&1O#201&>P#I#&V<1&?#$&"2>O=1$&01=;#$&%;1O1OD&5$%>R>&I#& 1$J<Jd>O=#B&R<$J>O=#&?>&O#%>B&I&?#&?#"2iD&5$%#&01&=;#&<O>&1O#201&

&'*%"!&(&!+"

9<>O=#&=;>?#">R>&J#O&#%2>$&P12$#O>$B&01&=1JM>O&J#$>$&$#2P21O=1O%1$B& 1$&=1J;2B&O#&01&J#O#JM>OB&O#&12>&=1&$<&P>M$B&P12#&10P1b>R>O&>&d>R?>2& =1&$<$&10#J;#O1$B&A2<$%2>J;#O1$B&?#$&=1$1#$&P>2>&$<$&d;U#$B&I&1$&0<I& ;0P>J%>O%1&V<1&<O>&P12$#O>&=1$J#O#J;=>&d>I>&P#=;=#&d>R?>2&J#O0;"#& =1&1$>&A#20>D

i=L]O%ULK%:L%S4;QY8GQ\I%R8H8%QIQGQ8H%!IdLQHK%nQH:;[%LI8%4H98IQV8GQ\I% :QI%UQIK:%JK%OLGH4%dLK%WHQIJ8%U4HS8GQ\I%8%O4:%RKHQ4JQ:;8:j 7;1O%#&V<1&d1&??1">=#&>?&P<O%#&1O&V<1&O#&C#I&>&$>?;2&0S$&>&?>&J>??1& P>2>&d>J12&21P#2%>U1$B&><OV<1&01&"<$%>2M>B&01&1OJ>O%>B&1_%2>+#&%#=#$& ?#$&=M>$&1$J2;R;2&I&21P#2%>2n&P12#&?#&V<1&0S$&V<;12#&d>J12&1$&>P#I>2&>& 0;$&J#?1">$B&>&?>$&P2]_;0>$&"1O12>J;#O1$&V<1&$M&C>O&>&1$%>2&1O&?>&J>??1& 21P#2%>O=#B&I&V<1&1OA21O%>O&>/O&0S$&21%#$B&J#0#&>%>V<1$&1O&J#O%2>& =1& ?>& P21O$>n& I& %>0R;iO& d>I& O<1C>$& d122>0;1O%>$& V<1& O#& %1OM>0#$& J<>O=#&10P1JiB&#&$1>B&1?1J%2]O;J#$B&=;";%>?1$D 5O%#OJ1$B& 01& "<$%>2M>& >I<=>2& >& 0;$& J#?1">$& 1O& !0i2;J>& E>%;O>& I& 1?& 9>2;R1D& 5?& 0#%;C#& A;O>?& 1$& >P#I>2& >?& P<1R?#B& P#2V<1& 1O%21& 0S$& J#O#J;0;1O%#$& $1& %;1O1B& 0S$& ;OA#20>=>& 1$%>2S& ?>& "1O%1& J<>O=#& $1& %#0>O&=1J;$;#O1$&$#R21&$<$&P2#P;#$&"#R;12O#$D& 5$&;0P#2%>O%1&21J>?J>2&V<1&O#$#%2#$B&?#$&P12;#=;$%>$B&O#&C>0#$&>&=1J;2& >&O<1$%2#&P<1R?#&V<i&=1R1O&=1J;=;2B&>&V<;1O&=1R1O&=1&1?1";2B&P12#&$M& C>0#$&>&1O%21">2?1$&?>&;OA#20>J;]O&P>2>&V<1&1??#$&J#O#bJ>O&I&%#01O& ?>&=1J;$;]O&V<1&J#O$;=121O&>P2#P;>=>D&5O%#OJ1$B&1$#&1$&?#&V<1&V<;12#& d>J12B&V<;12#&>P#I>2&>&0;$&J#?1">$B&>&?#$&P12;#=;$%>$&=1&!0i2;J>&E>%;O>D

&&&&&659l@5.8!9-l.57&85E&5e569-9-l&F56-l8É7c-9l W& 5?&<$#&=1?&$;?1OJ;#&1$&;0P#2%>O%1D&.#&d>I&V<1&2#0P12?#&$;O#&1$P12>2&>&V<1&1?& 1O%21C;$%>=#&=;">&>?"#D W& a>I&V<1&$12";O>?1$&1O&?>&1O%21C;$%>B&$;&d>J10#$&?>$&0;$0>$&P21"<O%>$B& =>2SO&?>$&0;$0>$&21$P<1$%>$&=1&$;10P21D W& .#&P21$;#O>2&>&?>&"1O%1D&.1"#J;>2&?#$&%10>$&=1&?>&1O%21C;$%>B&$;&O#&V<;121& d>R?>2&=1&<O&%10>B&P<1=1&$12&=1&#%2#D W& 71&=1R1&d>J12&?>&1O%21C;$%>&P1O$>O=#&1O&V<1&O#&$1&C#?C12S&>&C12&>?&P12$#O>U1D W& T<$J>2&1?&0;J2#J#$0#$&=1&J>=>&d;$%#2;>D W& F21$1O%>2&?#$&P12$#O>U1$&=1&<O#&1O&<O#B&>$M&J><$>2S&0>I#2&;0P>J%#&1O&1?&?1J%#2D

"*+4)9,5:;/7U=>E=<>7@/A/BC4:D,5:;/<@=>J=<>7@/0/F:+:.;/GH#H/B*54,5)

()*+,*,-)./0/BI:/(%%%/':7E


&)

/-,&'

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

F " G H" I

%& O!"& %'% 5?&Q&=1&=;J;10R21&=1&'()\&?>$&1$%<=;>O%1$&=1&J<>2%#&>+#&=1&?>& J>2212>&=1&5=<J>J;]O&-O;J;>?&J#O&01OJ;]O&1O&5=<J>J;]O&5$P1J;>?& 21>?;b>2#O& <O>& Jd>2?>& =;2;";=>& >& =#J1O%1$& <O;C12$;%>2;#$B& P>2>& J#0P>2%;2&J#O&1??#$&<O>&$12;1&=1&P><%>$&$#R21&J]0#&>R#2=>2&?>& =;C12$;=>=&1O&$<$&>?<0O#$D&5?&1C1O%#&A<1&21$<?%>=#&=1?&%2>R>U#& A;O>?& =1& ?>& 0>%12;>& pciJO;J>$& =1& 0#=;A;J>J;]O& =1& J#O=<J%>$qB& =;J%>=>&P#2&?>&P$;J]?#">&=1&?>&4O;C12$;=>=&9>$>&:2>O=1&Z49:[B& @>?J>&:#?=1OR12"D

W&-O%122<0P;2&J#O$%>O%101O%1&1O&J?>$1$B&?1C>O%SO=#$1&#& d>R?>O=#&J#O&?#$&J#0P>+12#$D W&71&=;$%2>1O&J#O&0<Jd>&A>J;?;=>=D W&x<;121O& %120;O>2& %#=#& 2SP;=>01O%1B& ><OV<1& O#& 1$%i& R;1O&d1Jd#B&=1R;=#&>&$<&$1O%;=#&=1&;0P<?$;C;=>=D W&71&A2<$%2>O&J#O&A>J;?;=>=D W&.#&P?>O;A;J>O&R;1O&1?&%;10P#&I&%;1O1O&=;A;J<?%>=1$&=1&#2">O;b>J;]OD 71&21J#0;1O=>Y&

5$%1& P1=;=#& $<2"1& >& P>2%;2& =1?& =1$>AM#& V<1& 21P21$1O%>& P>2>& ?>$& ;O$%;%<J;#O1$& I& =#J1O%1$& 1OJ#O%2>2& CM>$& P>2>& >%1O=12& I& J#0P21O=12& ?>& =;C12$;=>=B& %i20;O#& V<1& 1O& 1$%1& >2%MJ<?#& d>J1& 21A121OJ;>& /O;J>01O%1& >& ?>& =;C12$;=>=& O1<2#?]";J>D& F#2& 1??#B& 1?& #RU1%;C#&=1&1$%>&Jd>2?>&A<1B&>=10S$&=1&%2>O$0;%;2&=;Jd>$&P><%>$B& %>0R;iO& P2#A<O=;b>2& $#R21& ?>$& P2;OJ;P>?1$& P>%#?#"M>$& V<1& P<1=1O& 1OJ#O%2>2$1& 1O& ?>$& ><?>$& =1& J?>$1& k?#& J<>?& J#0P>2%#& >& J#O%;O<>J;]O& =1& 0#=#& 21$<0;=#kB& P<1$& %1O12& <O& >?<0O>=#& d1%12#"iO1#& ;0P?;J>& J#O$%>O%101O%1& 0#=;A;J>2& ?>$& P2SJ%;J>$& 1=<J>%;C>$B&P>2>&>$M&>$1"<2>2O#$&=1?&>P21O=;b>U1&=1&%#=#$D J'$%-5'(54 .5'4 )G87#7-4 )*4 $-*(#7:(4 #5(4 ,7.*'$#-717)$)4 RJNL[S"4 c2>$%#2O#&O1<2#R;#?]";J#&J>2>J%12;b>=#&P#2&A>?%>&=1&>%1OJ;]O&I& J#OJ1O%2>J;]OB& I& P#2& >J%;%<=1$& ;0P<?$;C>$& I& =1& d;P12>J%;C;=>=D& E>$&P12$#O>$&J#O&c8!a&$<1?1OY

W&c1O12& ;OA#20>J;]O& RS$;J>& $#R21& ?>$& =;A;J<?%>=1$& 1$P1JMA;J>$&V<1&P21$1O%>D W&5$%2<J%<2>J;]O&I&P?>O;A;J>J;]O&=1&?>&=#J1OJ;>Y&P21J;$;]O&=1& ?#$&#RU1%;C#$B&1_P#$;J;]O&=1?&MO=;J1&=1&J#O%1O;=#$B&$MO%1$;$&1& ;O%2#=<JJ;]O&1_P?;J>%;C>&P21C;>&>?&;O;J;#&=1&?>$&J?>$1$D W&c<%#2M>$& P21$1OJ;>?1$& 1OJ>0;O>=>$& >?& $1"<;0;1O%#& =1& dSR;%#$& V<1& 0#%;C1O& ?>& #2">O;b>J;]O& >J>=i0;J>& Zd#2>2;#$B&2<%;O>$B&P1O=;1O%1$[D W&5O&J>$#&=1&21>?;b>2&>J%;C;=>=1$&V<1&21V<;12>O&=1&?>2"#$& P12M#=#$&=1&>%1OJ;]OB&P120;%;2&V<1&1?&>?<0O#&%1O">&)L& 0;O&=1&%2>R>U#&I&?<1"#&L&=1&=1$J>O$#D W&9<>?V<;12&=<=>&#&=;A;J<?%>=B&21J<22;2&>?&=1P>2%>01O%#&=1& R;1O1$%>2&1$%<=;>O%;?&=1&?>&;O$%;%<J;]OD

"*+4)9,5:;/7@=><=<>7@/A/BC4:D,5:;/<?=><=<>7@/0/F:+:.;/#:4+).K,/5)/-,/,N+:4,

0&')'32(.4%*("( /.,0#(55'))'

2%/%!%60340/!$%


/ - , & ' &+

()*+,*,-)./0/BI:/(%%%/':7E

K;()'59*4)*4L%.*'&*'"4&9#O=;J;]O&O1<2#R;#?]";J>& V<1& >A1J%>& P2;OJ;P>?01O%1& 1?& A<OJ;#O>0;1O%#& =1?& S21>& $#J;>?B& ?>& J#0<O;J>J;]O& I& 1?& ?1O"<>U1& Z@>O<>?& =;>"O]$%;J#& I& 1$%>=M$%;J#& =1& ?#$& %2>$%#2O#$& 01O%>?1$& z87@WL|B& '()HB& PDL([D& F#2& ?#& "1O12>?B& O#& d>I& >A1J%>J;#O1$& J#"O;%;C>$& 1B& ;OJ?<$#B&$<1?1O&%1O12&<O&J#1A;J;1O%1&;O%1?1J%<>?& P#2& 1OJ;0>& =1& ?>& 01=;>D& E>$& P12$#O>$& J#O& !$P12"12&$<1?1OY

L(%7*)$)/& 71O%;0;1O%#& 1_>J12R>=#& =1& P21#J<P>J;]O& I& %1O$;]O& J#O$%>O%1& V<1& ?1& #J>$;#O>&>?&;O=;C;=<#&O12C;#$;$0#B&;OV<;1%<=B& =;A;J<?%>=& P>2>& J#OJ1O%2>2$1& I& 0;1=#& >& V<1& >?"#&%122;R?1&P<1=>&$<J1=12?1B&J><$>O=#&V<1& 1$%1&P;12=>&$<&J>P>J;=>=&=1&><%#J#O%2#?D 71&21J#0;1O=>Y W& 7;& $1& =1%1J%>O& $MO%#0>$& =1& P2#A<O=>& %2;$%1b>B&>;$?>0;1O%#&I&P#J>&P>2%;J;P>J;]O

W& 7;& >P>21J1& <O>& J2;$;$& 10#J;#O>?B& P120;%>&>?&>?<0O#&21>?;b>2&?#$&%2>R>U#$& CM>&@##=?1&I&A>J;?;%1&1?&0>%12;>?&%1]2;J#& <$>=#& 1O& J?>$1$D& 9#O$;=121& >P#I>2?#& J#O&%<%#2M>$D W& 8<2>O%1& ?>& J?>$1& $1& P<1=1O& 21A?1U>2& $MO%#0>$& =1& %2>$%#2O#$& 10#J;#O>?1$D& F2#J<21&1$%>2&>%1O%#&>&1$%>$&$1+>?1$&I& J#OC12$>2&J#O&?>&P12$#O>&;OC#?<J2>=>D& 7;& 1?& >?<0O#& J#OAM>& 1O& >?"<;1OB& 1?& P2#J1$#&P<1=1&$12&0S$&??1C>=12#D W& 9#O$;=121& ?>& P#$;R;?;=>=& =1& P2;#2;b>2& J#O%1O;=#$& I& %>21>$B& J#O& 1?& A;O& =1& 21=<J;2&?>&J>2">&>J>=i0;J>D 5$& ;0P#2%>O%1& =1$%>J>2& V<1& ?>$& P><%>$& #A21J;=>$& $#O& =;21J%2;J1$& "1O12>?1$B& J>=>& >?<0O#&21$P#O=1&>&J>2>J%12M$%;J>$&1$P1JMA;J>$B& I& P>2%1& =1?& 2#?& =1?& =#J1O%1& 1$& ;=1O%;A;J>2?>$& I& <$>2?>$& J#0#& <O& 21J<2$#& P>2>& 1?;0;O>2& ?>$& R>2212>$&V<1&=;A;J<?%>O&1?&>P21O=;b>U1D

71&21J#0;1O=>Y W& F2#J<2>2& 1$%2<J%<2>2& I& $1J<1OJ;>2& ?#$& P>$#$&O1J1$>2;#$&>&$1"<;2D W& 5C;%>2&<%;?;b>2&?>&;2#OM>B&1?&d<0#2&#&1?&=#R?1& $1O%;=#&1O&?>$&1_P?;J>J;#O1$&=1&J?>$1D W& F2#P#2J;#O>2&>?"<O#$&>P<O%1$&A#%#J#P;>=#$& #&1O%21">2?#$&J#O&>O%;J;P>J;]O&>&?>&J?>$1 W& c1O12&J#0#&%<%#2&>&<O&J#0P>+12#&=1&J?>$1D W& !C;$>2&J#O&>O%;J;P>J;]O&$#R21&J>0R;#$& 1O&d#2>2;#$B&><?>$B&$<$P1O$;]O&=1&J?>$1B& 1O%21&#%2#$D W& N>J;?;%>2&<O&1$P>J;#&%2>OV<;?#&1O&1?&V<1& ?>&P12$#O>&P<1=>&1$%>2&$#?>B&1O&J>$#&=1& $#R21J>2">&$1O$#2;>?&I&1$%2i$D

,KUKHKIGQ8:% !012;J>O&F$IJd;>%2;J&!$$#J;>%;#OD&Z'()H[D&@$(+$24 )7$&(:%-7#54 =4 *%-$);%-7#54 )*4 25%4 -'$%-5'(5%4 9*(-$2*%&Z87@WL[D&@>=2;=B&5$P>+>Y&5=;%#2;>?& @i=;J>&F>O>012;J>O>D &

/H8:;4HI4:%KS4GQ4I8OK: N*.'*%7:(/& !?%12>J;]O& =1?& 1$%>=#& =1& SO;0#B& 1O&1?&V<1&$1O%;0;1O%#$&$1C12#$&I&P2#?#O">=#$& =1& %2;$%1b>& =;A;J<?%>O& ?>$& J>P>J;=>=1$& =1& 21?>J;#O>2$1& J#O& #%2#$B& 1$%<=;>2B& %2>R>U>2& #& >A2#O%>2&1?&=M>D Q7.52$'7)$)/49>0R;#$&1O&1?&1$%>=#&>OM0;J#&V<1& P2#C#J>O&V<1&1?&;O=;C;=<#&P>$1&=1&?>&1<A#2;>&

& &&&&1O&J?>$1B&>Ji2V<1$1&>?&>?<0O#&I&210M%>?#& =1&A#20>&21$12C>=>&>?&=1P>2%>01O%#&=1& T;1O1$%>2& 5$%<=;>O%;?& =1& ?>& ;O$%;%<J;]OD& 5O& J>$#& =1& V<1& J#O#bJ>& $#R21& $<& J#O=;J;]O&J#O&>O%1?>J;]OB&0>O%1O">&<O>& #R$12C>J;]O&J#O$%>O%1&=1&$<&J#O=<J%>D

$:4/iN)-2*/':42)9, 5$%<=;>O%1& =1& J<>2%#& >+#& =1& ?>&J>2212>&=1&5=<J>J;]O&-O;J;>?& J#O& 01OJ;]O& 1O& 5=<J>J;]O& 5$P1J;>?& =1& ?>& N>J<?%>=& =1& 5J#?#"M>& a<0>O>& =1& ?>& 4O;C12$;=>=&9>$>&:2>O=1D

0&')'32(.4%*("( /.,0#(55'))'

W& c1O12&=;A;J<?%>=&1O&?>&;O%12>JJ;]O&$#J;>?D W& E1$& J<1$%>& J#0P21O=12& 10#J;#O1$& I& P1O$>0;1O%#$&P2#P;#$&I&=1&?#$&=10S$D W& 71&?1$&J#0P?;J>&1O%1O=12&1?&?1O"<>U1&O#&C12R>?D W& 5$%>R?1J1O&2<%;O>$&0<I&2M";=>$D W& c;1O1O&<O&;O%12i$&;O%1O$#&I&#R$1$;C#&1O& <O&%10>D

0S$&>"<=>&>&?>&=1P21$;]O&0S$&P2#A<O=>D&E>& %2>O$;J;]O&O#&1$&;O01=;>%>B&%;1O1&1$J>?>$&V<1& P<1=1O&C>2;>2&=1&>J<12=#&>?&J>$#D


&$ / - , & '

+ $ % / ( 0 2 6 ' (

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

Q).5)/ -,/ R,).+4K,/ )*/ j)S*:-:9K,/ )/ %**:3,S2T*/ "5NS,+23,Z/ )-/ 7@/ 5)/ \)D4)4:/ 5)/ <>7@/ .)/ --)3T/ ,/ S,D:/ -,/ S:*\)4)*S2,/ b#2D)4C-,92:;/ C4^S+2S,./ \4,N5N-)*+,.Z/ wR)+:5:-:9K,./ 2*,5)SN,5,.xcZ/ ]N)/ S:*+T/ S:*/ -,/ C4).)*S2,/ 5)/ i,*+:./ 14D2*,/ !,RK4)LZ/ 5:S)*+)/ 2*3).+29,5:4/5)/-,/1*23)4.25,5/5)/-,./%.-,./W,-),4)./ `".C,I,aZ/,/]N2)*/)*+4)32.+,R:.H/

F#$;R?101O%1B& 1?& P?>";#& =1?;R12>=#& J#0;1Ob>& 1O& ?#$& /?%;0#$& J<2$#$& =1&?>&F2;0>2;>D&.#&=;$P#O"#&=1&=>%#$&P>2>&=1J;2&$;&1O&<O>&1%>P>&d>I& 0S$&P?>";#&V<1&1O&#%2>B&?#&V<1&$M&1$%S&J?>2#&1$&V<1&1$&A21J<1O%1&1O&?>& 71J<O=>2;>B&J#0#&?#&1$&1O&?>&1%>P>&<O;C12$;%>2;>D&

i=L]OK:%:4I%O8:%G8L:8:%S]:%P8WQ;L8OK:%JK%RO89Q4j 4O>&0>?>&P?>O;A;J>J;]O&P>2>&d>J12&?>$&%>21>$&21V<12;=>$B&V<1&??1C>O&>& <O>&>J<0<?>J;]O&=1&%2>R>U#$&J<>O=#&$1&>P2#_;0>&?>&A1Jd>&=1&1O%21">B& I&?>&A>?%>&=1&%;10P#B&$12SO&=1%120;O>O%1$D iCLZ%8GGQ4IK:%4%SK;4J4O49X8:%HKG4SKIJ8HX8%8%O4:%J4GKI;K:% 8ROQG8H%R8H8%RHKYKIQH%KO%RO89Q4j N<O=>01O%>?01O%1B& $1& %2>%>& =1& A#01O%>2& ?>& P>2%;J;P>J;]O& >J%;C>& =1?& 1$%<=;>O%1B& P2#P#O;1O=#& >J%;C;=>=1$& J21>%;C>$B& d>J;1O=#& <O& $1"<;0;1O%#&J12J>O#&I&P2#P#2J;#O>O=#&8**)>$#V4A21J<1O%1D i0%dLZ%:K38OK:%JKWKHX8I%K:;8H%8;KI;4:%O4:%J4GKI;K:%R8H8%I4;8H% dLK%LI%;H8W8b4%P8%:QJ4%RO89Q8J4j

"*+4)9,5:;/>?=>8=<>7@/A/BC4:D,5:;/>P=>8=<>7@/0/F:+:.;/GH#H/B*54,5)/A/%-N.+4,S2T*/F,D42LL2:/oTC)L

1'#35(,'#

i@K:JK%dLZ%IQYKO%8G8JZSQG4%G4I:QJKH8%L:;KJ%dLK%RLKJK%QIQGQ8H%KO% RO89Q4j%i?%KI%dLZ%K;8R8%KJLG8;QY8%:K%RHK:KI;8%S]:j


()*+,*,-)./0/BI:/(%%%/':7E

a>I&0<Jd#$&;O=;J;#$&V<1&??1C>O&>&?1C>O%>2&$#$P1Jd>Y&?>&J#0R;O>J;]O&=1& =;A121O%1$&1$%;?#$&=1&21=>JJ;]OB&J>0R;#$&1O&?#$&%;10P#$&I&1O&?>&P12$#O>& C12R>?B&d>J12&>?<$;]O&>&>?"#&O#&J#01O%>=#B&1O%21&#%2#$D&5O&%#=#&J>$#B& d#I&1O&=M>&1?&%58-!$'*&=1&=1%1JJ;]O&=1&P?>";#&A>J;?;%>&1O#20101O%1& ?>&%>21>D 15%=5$%iCLZ%K:%KO%RO89Q4j <JJ;]O& "5%>5$&9#O$;$%1&1O&?>&21P2#= O>B&1O& %#%>?&#&P>2J;>?&=1&?>&#R2>&>U1 R;=>& =1 <O& %2>R>U#& P2#P;#B& $;O& ?>& >%2;R<J;]O&=1&><%#2M>D

.#&J21#&V<1&%1O">&V<1&C12&J#O&1$#D&5O&J#OJ21%#B&1$&1?&%58-!$'*&=1&=1%1JJ;]O& 1?& V<1& <$>& 1$%>& %120;O#?#"M>B& I& 1$& P12A1J%>01O%1& J#0P21O$;R?1B& I>& V<1& O#&%#=#&1?&P#2J1O%>U1&;O=;J>=#&$1&P<1=1&J#O$;=12>2&P?>";#B&P<1=1&d>R12& 122#21$D&7;10P21&1$&O1J1$>2;#&V<1&1?&P2#A1$#2&>O>?;J1&J#O&=1%1O;0;1O%#&1$1& ;OA#201&P>2>&=1?;0;%>2&1?&>?J>OJ1&21>?&=1?&P?>";#D D i-O%RO89Q4%R4JHX8%:KH%LI8%GLK:;Q\I%JK%Z;QG8%HKO8GQ4I8J4%G4I%O8% U8O;8%JK%JK:K4%JK%:8WKHj%i=\S4%KO%J4GKI;K%RLKJK%8W4HJ8H%K:;8% JQSKI:Q\Ij & E>$& J><$>$& =1?& P?>";#& P<1=1O& $12& =;C12$>$B& P12#& =1& 0>O12>& "1O12>?B& O#& J21#& V<1& 1$%SO& 21?>J;#O>=>$& J#O& ?>& A>?%>& =1& =1$1#& =1& $>R12D& a>I& V<1& ;O%1O%>2& 1O%1O=12& 1$%1& A1O]01O#& 1O& <O& J#O%1_%#& 1O& 1?& V<1& $1& 1$%S& =10>O=>O=#& >?& >?<0O>=#& 0<Jd#$& %2>R>U#$B& 1O& #J>$;#O1$& =1& J;12%#& O;C1?& =1& J#0P?1U;=>=& %1]2;J>B& IB& %>0R;iOB& O#& P#J>$& C1J1$B& J#O& 1$J>$#&$1"<;0;1O%#&P#2&P>2%1&=1?&=#J1O%1D&!$MB&A>J%#21$&J#0#&?>&A>?%>& =1&%;10P#&I&?>&$1O$>J;]O&=1&;OJ>P>J;=>=&P>2>&21=>J%>2&J#221J%>01O%1& C>2;#$&1O$>I#$B&R>U#&?>&P21$;]O&=1&?>&;O01=;>%1bB&P<1=1&??1C>2&>&>$<0;2& 1?&2;1$"#&=1&P?>";>2n&IB&P#2&$<P<1$%#B&d>I&V<1&J#O%>2&%>0R;iO&J#O&1?& =1$J#O#J;0;1O%#&1C1O%<>?&>J12J>&=1&J]0#&>%2;R<;2&J#221J%>01O%1&?>$& ;=1>$&sP21$%>=>$tD

MH49H8S8:%T74%W8:K:%JK%J8;4:%R8H8%O8%JK;KGGQ\I%JK%RO89Q4 & e4B59*'#7$2*%/&c<2O;%;OB&42g<O=B&4O;Jd1Jg & e4@*U5'*%4&'$-+7-5%Y&71>2Jd&5O";O1&61P#2%$B&70>??&71#&& &&&&&&&&&&&&&&&&c##?$B&8<P?;Jd1g12 yy2Q:;8J4%RH4YKXJ4%R4H%@H5%>HWQI8[%GQ;8J4%R4H%@X8V%0HGK%s<)&^t5

.#&1$&%>21>&ASJ;?&P>2>&?#$&=#J1O%1$B&P12#&$M&d>I&>?"<O>$&1$%2>%1";>$&V<1& P<1=1O&J#O%2;R<;2&>&<O>&21=<JJ;]O&=1?&P?>";#&=1&?#$&1$%<=;>O%1$&Z>P>2%1& =1& ?>$& A#20>%;C>$[Y& ?;0;%>2& 1?& O/012#& =1& %2>R>U#$& P#2& J<2$#& Z01O#$& %>21>$B&0S$&P2#?#O">=>$[n&P2#P#O12?1$&%>21>$&V<1&$<P#O">O&<O>&0>I#2& ;0P?;J>J;]OB&#B&;OJ?<$#B&V<1&21P21$1O%1O&<O&21%#&#&21V<;12>O&=1&J;12%#& "2>=#&=1&J21>%;C;=>=n&IB&P#2&$<P<1$%#B&d>J12&<O&$1"<;0;1O%#&P12;]=;J#& =1?&>C>OJ1&=1&?#$&1$%<=;>O%1$B&P2#P#2J;#O>O=#&1?&8**)>$#V&>=1J<>=#D & ,KUKHKIGQ8: & & 8M>b&!2J1B&8D&Z'()^[D&a122>0;1O%>$&p>O%;P?>";#qY&v$#O&J#OA;>R?1$w&5$%<=;#&=1& J>$#$D&584c59D&A*17%-$4?2*#-':(7#$4)*4J*#(525&;$4?)+#$-71$6&ZQ)[B&>HQLD& d%%P$Ymm=#;D#2"m)(D')LLQm1=<%1JD'()^DQ)D*)*&&

" ' j ! " ( % i j B $:4/G,4K,/#42.+2*,/B*54,5)

1'#35(,'#

"K%P8WO8W8%KI%O8%G4IUKHKIGQ8%dLK%:K%L;QOQV8I%R8O8WH8:%G4S4% `QIU4HSK%JK%G4QIGQJKIGQ8:a%4%`G4QIGQJKIGQ8:a%8O%P8WKH%LI8% R4:QWQOQJ8J%JK%RO89Q4[%R8H8%I4%`PKHQH%:L:GKR;QWQOQJ8JK:a[%iGHKK%dLK% K:;4%;8SWQZI%R4JHX8%:KH%LI%z8HS8%JK%J4WOK%UQO4{%dLK%G4IOOKY8%8% LI8%:4WHKRH4;KGGQ\I%P8GQ8%KO%K:;LJQ8I;Kj

/ - , & ' &%


&&

/-,&'

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

"*/ N*/ ,RD2)*+)/ 5)/ 32*:/ Y/ ]N).:.Z/ Y/ 4:5),5:./ 5)/ 3)*+,*,-)./ S:*/ 32.+,/ O,S2,/ N*/ 6N,Y,]N2-/ *:S+N4*:Z/ .)/ 4),-2LT/ b')+e:4k2*9/ '29O+cZ/ N*/ )3)*+:/ ]N)/ 52:/ ,/ S:*:S)4/ -,./ 2**:3,S2:*)./ 5292+,-)./ 2*SND,5,./ )*/ -:./ C4:94,R,./ 5)/ -,./ R,).+4K,./ 5)/ #:RN*2S,S2T*/ Y/ 5)/ $)42:52.R:/Q292+,-H/ 7>O%;>"#& 5$J#R>2B& 8>O;1?>& :##=0>OB& :>R2;1?>& @#O%1C12=1B& !?;O>& @>O2;V<1&I&,;JgI&9d#1b&$#O&?#$&"2>=<>=#$&V<1&$1&=;12#O&J;%>&1?&'H& =1&1O12#&=1&'()*&1O&1?&1=;A;J;#&@>I#2&=1&?>&4O;C12$;=>=&9>$>&:2>O=1& Z49:[B&P>2>&P21$1O%>2&?#$&P2#I1J%#$&=1$>22#??>=#$&=<2>O%1&$<$&1$%<=;#$& =1&0>1$%2M>B&?#$&J<>?1$&$1&1OA#J>2#O&1O&?>&J#0<O;J>J;]O&=;";%>?D& `.QYK%KO%=8b8:a

1'#35(,'#

.1%`#2g;O"&.;"d%&;O;J;]&J#O&1?&P2#%#%;P#&21>?;b>=#&P#2&1?&@"%2D&7>O%;>"#& 5$J#R>2B&p,;C1&1?&9>U>$qB&V<1&A>J;?;%>&>&?#$&C;$;%>O%1$&=1&;OA#20>J;]O&$#R21&1?& F>2V<1&.>J;#O>?&5?&9>U>$B&>=10S$&=1&R2;O=>2&21J#01O=>J;#O1$&I&?#J>?;b>J;]O& =1?&P>2V<1D&5$J#R>2&d>R?]&$#R21&?>&;0P#2%>OJ;>&=1&J21>2&<O&$;%;#&`1RB&V<1& 1O&$<&J>$#&P120;%1&>&?#$&<$<>2;#$&<O&>JJ1$#&2SP;=#&>&;OA#20>J;]O&J#OJ;$>D& p9#O%>0#$& J#O& "<M>$& J12%;A;J>=#$& P#2& 1?& P>2V<1& I& #P12>=#2>$& %<2M$%;J>$& V<1&#A21J1O&$12C;J;#$&k=;U#kB&P>2>&?#"2>2&V<1&?#$&C;$;%>O%1$&%1O">O&<O>& 1_P12;1OJ;>&>"2>=>R?1&V<1&$<P121&?>$&1_P1J%>%;C>$qD `24%HQG4%JK%MO8T8:a E>&@"%2D&8>O;1?>&:##=0>O&P21$1O%]&$<&>P?;J>J;]O& 0]C;?&pE#&2;J#&=1& F?>I>$qB& V<1& P2#0<1C1& 1?& %<2;$0#& ">$%2#O]0;J#B& =1$=1& <O& SO"<?#& P12;#=M$%;J#B& 1O& :1O12>?& ,;??>0;?& F?>I>$D& 5??>& J#01O%]& V<1& ?>& ;=1>& $<2";]& ?<1"#& =1& 21>?;b>2& <O>& ;OC1$%;">J;]O& 1_d><$%;C>& =1?& ?<">2B& 1O& J<I#&P2#J1$#&$1&=;#&J<1O%>&V<1&O#&1_;$%1&<O>&P?>%>A#20>&#A;J;>?&V<1& ;0P<?$1& 1?& S21>& %<2M$%;J>& I& ">$%2#O]0;J>& =1& ?>& b#O>D& pF#2& 1$#& =1J;=M& J21>2& <O>& >P?;J>J;]O& V<1& =;12>& >& J#O#J12& >& ?#$& %<2;$%>$& 'D(& O#& $#?#& ;OA#20>J;]O& RS$;J>& $;O#& %>0R;iO& d;$%#2;>$& I& %2>=;J;#O1$B& >& %2>Ci$& =1& A#%#P12;#=;$0#&I&C;=1#$qB&>"21"]D & `/L%>HJK:8a

$:4/'2S:-)/oTC)L

4O& P2#I1J%#& V<1& O>J1& =1?& =1$1#& =1& J#OC12%;2& >& 42=1$>& 1O& <O& R>22;#& J<?%<2>?& =1& :<>I>V<;?B& >=10S$& =1& R2;O=>2& >& ?>& b#O>& ?>& P#$;R;?;=>=& =1& J>0;O>2& I& =;$A2<%>2& J#O& %2>OV<;?;=>=D& 7<& J21>=#2>B& ?>& @"%2D& :>R2;1?>& @#O%1C12=1B&01OJ;#O]&V<1&C;C;]&1O&42=1$>&d>J1&%21$&>+#$B&P12#&$1&0<=]& =1R;=#&>&?>&;O$1"<2;=>=D&81$=1&1$>&0#%;C>J;]O&J21]&pc<<2=1$>DJ#0qB&<O>&

"*+4)9,5:;/<<=><=<>7@/A/BC4:D,5:;/<?=><=<>7@/0/F:+:;/'2S:-)/oTC)L/A/%-N.+4,S2T*/F4))C2k

RFLR FLXGDG \ VROXFLRQHV GLJLWDOHV


()*+,*,-)./0/BI:/(%%%/':7E

P?>%>A#20>&V<1&21/O1&=;";%>?01O%1&>&%#=#$&?#$&V<1&>0>O&1$%1&R>22;#B& I>&$1>&V<1&C;C>OB&%2>R>U1OB&1$%<=;1O&#&$;0P?101O%1&=;$A2<%1O&C;$;%>2?#n&I& V<1&R<$J>&J21>2&<O>&>"1O=>&J<?%<2>?&=1$=1&?>&P>2%;J;P>J;]O&J;<=>=>O>D& p5?&$;%;#&`1R&>?R12">&d122>0;1O%>$&=1&J#OC12$>J;]O&1&;OA#20>J;]OB&P>2>& V<1&?>&J#0<O;=>=&J#O#bJ>&?#$&P2#I1J%#$B&$1&$<$J2;R>&>&1??#$&I&P>2%;J;P1& =1&0>O12>&>J%;C>qB&>O#%]D& `2QI8bKa

5?& 1C1O%#& A;O>?;b]& J#O& ?>& ;O%12C1OJ;]O& =1& aiJ%#2& .>C>22#B& P2#A1$#2& 1OJ>2">=#&=1&?>&0>1$%2M>&1O&9#0<O;J>J;]O&8;";%>?B&V<;1O&1_P21$]&$<& ;O%12i$& P#2& %#=#$& ?#$& P2#I1J%#$& 1_P<1$%#$B& I>& V<1& J>=>& <O#& 1$%<C#& C;OJ<?>=#&>&?>&1J#?#"M>&=1&?#$&01=;#$&=1&@JE<d>O&I&$<&P>$#&d>J;>&?>$& =;A121O%1$&P?>%>A#20>$D& .>C>22#& 01OJ;#O]& %21$& >$P1J%#$& 1$1OJ;>?1$& V<1& $1& >P?;J>2#O& 1O& 1?& =1$>22#??#& =1& ?>$& P2#P<1$%>$& 01OJ;#O>=>$Y& )[& E#& ;O%12?#J>?Y& O#& $#?#& $1& J<R2;12#O& P2#R?10>$& "?#R>?1$& $;O#& %>0R;iO& ?#J>?1$n& '[& E>& 21$P#O$>R;?;=>=Y& 1$%1& A>J%#2& 1$%S& 21?>J;#O>=#& >& ?>& P>$;]O& V<1& =1R1& %1O12& J>=>& 10P21O=1=#2B& J#O& 1?& A;O& =1& >R#2=>2& <O>& P2#R?10S%;J>& #& O1J1$;=>=n&H[&E>&=;OS0;J>&J#?>R#2>%;C>Y&>I<=>&>&J>?;R2>2&<O&P2#I1J%#& U<O%#&>&?>$&21=1$&$#J;>?1$D& 9<?0;O]& J#O& <O>& $<"121OJ;>& >?& 0#01O%#& =1& ;O;J;>2& <O& P2#I1J%#Y& pF;1O$1O&=1$=1&?>&;O%<;J;]OB&=1$=1&?#&J#%;=;>O#B&P#2V<1&?#&J12J>O#&O#$& d>2S&??1">2&0<I&?1U#$qD

`#Q3KV%:K9LH8a T>U#&1?&?10>&pu9<;=>2&=1&?#$&O;+#$&1$&21$P#O$>R;?;=>=& =1& %#=#$fq& $1& P21$1O%]& 1?& P2#%#%;P#& p!JJ;#O1$& P>2>& <O>& O;+1b& $1"<2>qB& >& J>2"#& =1& ?>& @"%2D& ,;JgI& 9d#1b& :>01D& E>& ><%#2>& =1$J2;R;]& $<& P2#P<1$%>& J#0#& <O>& J>0P>+>& =1& J#0<O;J>J;]O& 5(27(*058827(*B& >JJ1$;R?1& 01=;>O%1&<O>&PS";O>&=1&N>J1R##gB&I&J<I#&#RU1%;C#&1$& J#OJ;1O%;b>2&>&?>&$#J;1=>=&$#R21&?#$&2;1$"#$&V<1&J#221& %#=#& O;+#& I& O;+>& 1O& $<& 1%>P>& 1$J#?>2B& %#0>O=#& 1O& J#O$;=12>J;]OB&P#2&1U10P?#B&?#$&J>$#$&=1&>R<$#&$1_<>?& 21C1?>=#$& 1O& ?#$& /?%;0#$& >+#$& =1O%2#& =1& 1$P>J;#$& 1=<J>%;C#$&=1&5J<>=#2D&F>2%1&=1&?>&P2#P<1$%>&1$&J21>2& <O>& P?>%>A#20>& V<1& P120;%>& 21J1P%>2& %1$%;0#O;#$B& =<=>$B& J>$#$& 1B& ;OJ?<$#B&J#0P>2%;2&21J#01O=>J;#O1$&P>2>&P2#%1"12&>&?#$&01O#21$D&

81&;bV<;12=>&>&=121Jd>Y&aiJ%#2&.>C>22#B&:>R2;1?>&@#O%1C12=1B&!?;O>& @>O2;V<1B&,;JgI&9d#1bB&8>O;1?>&:##=0>O&I&7>O%;>"#&5$J#R>2D&

1'#35(,'#

p.<1$%2>& C;=>& 1$%S& 0>2J>=>& P#2& #%2>$& C;=>$B& ?>& =1& O<1$%2#$& P>=21$B& >R<1?#$&I&=10S$&>OJ1$%2#$D&7<$&010#2;>$&$<1?1O&$12&d121OJ;>&I&%1$#2#& P>2>&?>$&A>0;?;>$D&7;O&10R>2"#B&d#I&=;$A2<%>0#$&=1&J#0;=>&2SP;=>&I& >P?;J>J;#O1$& P>2>& A>J;?;%>2O#$& ?>& C;=>B& I& 1?& P2#R?10>& 1$& V<1& 1$%>0#$& P12=;1O=#&>J1?12>=>01O%1&O<1$%2#&P>$>=#qD&!$M&P21$1O%]&?>&@"%2D&!?;O>& @>O2;V<1&$<&P2#I1J%#&pE;O>U1B&$<&R;#"2>AM>&A>0;?;>2&=1$%>J>=>&P>2>&1?& 0<O=#qB&V<1B&R>U#&<O&1$%;?#&P12;#=M$%;J#B&J#O$;$%1&1O&<O&>2=<#&%2>R>U#& =1&;OC1$%;">J;]O&$#R21&1?&?;O>U1&=1&<O>&A>0;?;>B&J<I>&d;$%#2;>&?<1"#&1$& 1O%21">=>&>?&J?;1O%1&1O&1U10P?>21$&=1&?;R2#$D & !$M&0;$0#B&=;$P#O1&=1&<O&$;%;#&`1R&P>2>&=>2&>&J#O#J12& $<&$12C;J;#&I&?#$&P>V<1%1$&V<1&#A21J1B&1?&J<>?&;O%1"2>& >&P12;#=;$%>$B&21=>J%#21$B&=;$1+>=#21$&1&;?<$%2>=#21$n& R<$J>& p#A21J12& >& ?>$& A>0;?;>$& ?>& #P#2%<O;=>=& =1& 21C>?#2;b>2& ?>& %2>=;J;]O& #2>?& k1_P?;J]k& I& 21J<P12>2& 1$1&$1O%;=#&=1&P12%1O1JM>&=1?&S2R#?&"1O1>?]";J#qD

/ - , & ' &!


&' / - , & '

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

21

7;&1O&7>P;1O$B&1?&1$J2;%#2&j<C>?&.D&a>2>2;&$1&1OA#J>R>&1O&?>&A#20>&pJ]0#& <O&$;0;#&;O$;"O;A;J>O%1&>J>R]&2;";1O=#&1?&P?>O1%>&c;122>qB&I&1O&a#0#& 81<$&$1&J1O%2>R>&1O&?>&P#$;R;?;=>=&=1&V<1&?#$&d<0>O#$&$1&J#OC;12%>O& 1O&=;#$1$n&1O&$<&O<1C>&P<R?;J>J;]O&_`4E*##75(*%4.$'$4*24%7&254aaZB&1?& ><%#2&>R#2=>&?>$&P2;OJ;P>?1$&A<12b>$&V<1&0#=1?>O&?>$&$#J;1=>=1$&I&$<& ;OA?<1OJ;>&;O%1"2>?&1O&1?&P?>O1%>D&F2#P#O1&J#O1J%>2&?>$&21C#?<J;#O1$&=1& ?>&iP#J>&J#O&?>&C;=>&;O%12;#2&;O=;C;=<>?&I&J#?1J%;C>D&

lecciones para el siglo XXI

50#06(

$:4/62-5,/G,SK,./#,4R29*,*2


/ - , & ' &(

()*+,*,-)./0/BI:/(%%%/':7E

7;&1O&7>P;1O$B&1?&1$J2;%#2&j<C>?&.D&a>2>2;&$1&1OA#J>R>&1O&?>&A#20>&pJ]0#& <O&$;0;#&;O$;"O;A;J>O%1&>J>R]&2;";1O=#&1?&P?>O1%>&c;122>qB&I&1O&a#0#& 81<$&$1&J1O%2>R>&1O&?>&P#$;R;?;=>=&=1&V<1&?#$&d<0>O#$&$1&J#OC;12%>O& 1O&=;#$1$n&1O&$<&O<1C>&P<R?;J>J;]O&')&E1JJ;#O1$&P>2>&1?&$;"?#&XX-B&1?& ><%#2&>R#2=>&?>$&P2;OJ;P>?1$&A<12b>$&V<1&0#=1?>O&?>$&$#J;1=>=1$&I&$<& ;OA?<1OJ;>&;O%1"2>?&1O&1?&P?>O1%>D&F2#P#O1&J#O1J%>2&?>$&21C#?<J;#O1$&=1& ?>&iP#J>&J#O&?>&C;=>&;O%12;#2&;O=;C;=<>?&I&J#?1J%;C>D& M0,/-%!5%-O%JK:8UX4%;KGI4O\9QG4 E>& %1$;$& =1& a>2>2;& 1$& V<1& ?>& d<0>O;=>=& 1$%S& P12=;1O=#& ?>& A1& 1O& 1?& 21?>%#& ?;R12>?& P>2>& 1OA21O%>2& =#$& =1$>AM#$& 0>I#21$Y& ?>& R;#%1JO#?#"M>&

M0,/-%!!5%-O%JK:8UX4%R4OX;QG4 4O&$1"<O=#&P?>O%1>0;1O%#&=1&a>2>2;&1$&V<1&?>&A<$;]O&=1&;OA#%1JO#?#"M>& I& R;#%1JO#?#"M>& $#O& <O>& >01O>b>& P>2>& ?>& ?;R12%>=& 1& ;"<>?=>=D& 7#$%;1O1& V<1B& A21O%1& >& 1$%#$& =1$>AM#$B& ?>$& 21$P<1$%>$& =1R1O& ;0P?;J>2& ?>& J##P12>J;]O& "?#R>?B& >01O>b>=>& P#2& 1?& O>J;#O>?;$0#B& ?>& 21?;";]O& I& >?"<O>$& J<?%<2>$& ?#J>?1$D& 61A?1_;#O>& 1O%#OJ1$& $#R21& 1?& <$#& =1& ?>& ;O%1?;"1OJ;>& >2%;A;J;>?& P>2>& J21>2& <O>& J#0<O;=>=& "?#R>?& P2#%1J%#2>& =1& ?>& ?;R12%>=& 1& ;"<>?=>=& d<0>O>$B& #& ?>& ;OC12$;]O& 1O& 1?& P2#J1$#& =1& "?#R>?;b>J;]O& I& 1?& 10P#=12>0;1O%#& =1?& 1$%>=#& O>J;]OD& l& V<;bSB& 1?& 21"21$#&>&?>&$>R;=<2M>&=1&>O%;"<>$&%2>=;J;#O1$&21?;";#$>${ E>&P2#01$>&=1&;O%1"2>J;]O&J#OC#J>&1?&<$#&=1&?>&;O%1?;"1OJ;>&>2%;A;J;>?& P>2>& ?>& p;O"1O;12M>& $#J;>?& P?>O;A;J>=>& J1O%2>?01O%1& >& 1$J>?>& "?#R>?qB& 1_P21$>&1?&><%#2D&!=1?>O%>&V<1B&$;&1$%1&10P21O=;0;1O%#&1$&1_;%#$#B&$1& 21J#O#J12M>&1?&2#?&=1&?#$&>?"#2;%0#$&J#0#&?M=121$&=1&?>$&21=1$&d<0>O>$D& 7;& A2>J>$>B& 1C;=1OJ;>2M>& $<& ;OJ>P>J;=>=& P>2>& 21$#?C12& P2#R?10>$& $#J;>?1$B&P#2&?#&V<1&>J<=;2M>0#$&O<1C>01O%1&>&P#?M%;J#$&I&$>J12=#%1$D& j&1$&V<1&Ñ$#$%;1O1W&p?>$&J#0<O;=>=1$&AM$;J>$&%;1O1O&<O>&P2#A<O=;=>=& V<1&?>$&J#0<O;=>=1$&C;2%<>?1$&O#&P<1=1O&;"<>?>2qD&

I& ?>& ;OA#%1JO#?#"M>D& !& A;O1$& =1?& $;"?#& XX& P>21JM>& V<1& ?>& ?<Jd>& 1O%21& A>$J;$0#B& J#0<O;$0#& I& ?;R12>?;$0#& 21$<?%>2M>O& 1O& ?>& C;J%#2;>& ?;R12>?& V<1&J#OV<;$%>2M>&1?&0<O=#D&&F1O$>=#21$&Ñ$1+>?>Ñ&&$>?<=>2#O&1?&pA;O& =1&?>&d;$%#2;>q&z>?<=;1O=#&>&N<g<I>0>|Y&?#&P#?M%;J#&I&1J#O]0;J#&I>&$1& d>RM>&b>OU>=#&I&?>&d<0>O;=>=&$12M>&<O>&J#0<O;=>=&"?#R>?&?;R21D& F12#& ?>& d;$%#2;>& O#& %120;O]& I& =;#& <O& ";2#& ;O1$P12>=#n& $#O& 1U10P?#$& c2<0P& #& 1?& T21_;%D& a>2>2;& 21$<01& ?>& $;%<>J;]O& =1& 1$%>& 0>O12>Y& $;& 1O& )*H\&$1&#A21JM>&>&?#$&d<0>O#$&%21$&21?>%#$n&1O&)*Q\&$#?#&A<12#O&=#$n& 1O&)**\B&<O#n&I&1O&'()\B&J12#n&?#&J<>?&"1O12>&;OJ12%;=<0R21B&I>&V<1& J#O%>2&J#O&<O&21?>%#&1$&%2>OV<;?;b>=#2D& E>&A<$;]O&=1&?>&;OA#%1JO#?#"M>&I&R;#%1JO#?#"M>&Ñ>O#%>Ñ&P<1=1&d>J12& V<1& 0;??#O1$& =1& d<0>O#$& V<1=1O& $;O& %2>R>U#D& E#$& >?"#2;%0#$& =1& 9$#'5)$-5%& J21>2M>O& =;J%>=<2>$& =;";%>?1$& J#OJ1O%2>=>$& 1O& <O>& i?;%1& 0;O/$J<?>Y&?>$&21C<1?%>$&O#&$1&#2">O;b>2M>O&J#O%2>&<O>&i?;%1&1J#O]0;J>& V<1&1_P?#%1&>&?>&"1O%1B&$;O#&J#O%2>&<O>&V<1&I>&O#&?>&O1J1$;%1D&j&1$&0S$& =;AMJ;?&?<Jd>2&J#O%2>&?>&;221?1C>OJ;>&V<1&J#O%2>&?>&1_P?#%>J;]OD&

7;O& 10R>2"#B& 0<Jd#$& "#R;12O#$& Ñ;O=;J>Ñ& >=#P%>O& 1$%2<J%<2>$& <O;C12$>?1$&=1&0#=12O;=>=B&$#P#2%SO=#?>$&1O&<O>&21?;";]O&%2>=;J;#O>?& P>2>&P21$12C>2&<O>&;=1O%;=>=&O>J;#O>?&/O;J>&#&J21>O&<O>&O<1C>B&J<>?& 1$P1J;1& =1& p$;2C;1O%>& =1?& O>J;#O>?;$0#qD& E>& R21Jd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d>J12&A21O%1&>?&%122#2;$0#B&a>2>2;&$<";121&V<1Y&)[&?#$&"#R;12O#$&d>O& =1&J1O%2>2$1&1O&>JJ;#O1$&J?>O=1$%;O>$&J#O%2>&?>$&21=1$&%122#2;$%>$n&'[& ?#$&01=;#$&=1&J#0<O;J>J;]O&=1R1O&0>O%1O12&1?&>$<O%#&1O&P12$P1J%;C>& I&1C;%>2&?>&d;$%12;>n&H[&?#$&J;<=>=>O#$&=1R10#$&$12&J#O$J;1O%1$&=1&$<& 21>?&=;01O$;]OD&5O&$<0>B&21>JJ;#O>2&=1&0>O12>&A2M>&I&1V<;?;R2>=>D&

50#06(


!# / - , & '

a>2>2;&=1A;1O=1&?>&;=1>&V<1&?#&0#2>?&$;"O;A;J>&p21=<J;2&1?&$<A2;0;1O%#q& I&O#&1$&0#O#P#?;#&=1&?>&A1&21?;";#$>D&5O&?>&0>I#2M>&=1&d<0>O#$B&$<& A1?;J;=>=&$1&C;OJ<?>&>&21?>J;#O1$&=1&>0#2B&>0;$%>=&I&J#0<O;=>=&J#O& #%2#$D&5?&?>;J;$0#&O#&21J?>0>&1?&0#O#P#?;#&=1&?>&C12=>=&#&$>R;=<2M>& I& V<;1O1$& ?#& P2#A1$>O& =1J?>2>O& <O& J#0P2#0;$#& J#O& ?>& C12=>=B& ?>& J#0P>$;]OB& ?>& ?;R12%>=B& ?>& ;"<>?=>=B& ?>& C>?1O%M>& I& ?>& 21$P#O$>R;?;=>=B& J?>C1$&P>2>&?>&=10#J2>J;>D

?>&12<=;J;]OB&J<I#$&P2;OJ;P>?1$&1_P#O1O%1$&#P%>2#O&P#2&?>&<O;=>=&P#2& 1OJ;0>&=1&?>&C12=>=D& M0,/-%.5%,K:QOQKIGQ8 !A;20>&1?&><%#2&V<1&?>&iP#J>&V<1&C;C;0#$&1$&=1$J#OJ12%>O%1B&?#$&21?>%#$& >O%;"<#$& $1& d>O& =1$P?#0>=#& I& O#& d>I& >?"#& O<1C#& P>2>& $<$%;%<;2?#$D& lP;O>& V<1& ?>& ;O0;O1O%1& J2;$;$& 1J#?]";J>B& ?>& >01O>b>& =1& >20>$& =1& =1$%2<JJ;]O&0>$;C>&I&1?&><"1&=1&%1JO#?#"M>$&=;$2<P%;C>$&O#&P120;%;2SO& V<1&P2#?#O"<10#$&1?&=1R>%1&;O=1A;O;=>01O%1D&E>&;O%1?;"1OJ;>&>2%;A;J;>?& I&?>&R;#%1JO#?#"M>&P#=2M>O&#A21J12O#$&1?&P#=12&=1&210#=1?>2&I&21=;$1+>2& 1?&$1O%;=#&=1&?>&C;=>D 9;%>O=#& 1?& @>O;A;1$%#& 9#0<O;$%>& =1& )\3\& $#R21& 1?& =1$C>O1J;0;1O%#& 1O& 1?& >;21& =1& %#=#& ?#& $]?;=#B& a>2>2;& $1O%1OJ;>& V<1& pa>J;>& '(3\B& ?>$& 1$%2<J%<2>$& AM$;J>$& I& J#"O;%;C>$& %>0R;iO& $1& =1$C>O1J12SO& 1O& 1?& >;21& #&1O&<O>&O<R1&=1&R;%$&=1&=>%#$qD&E#$&O;+#$&=1&d#I&?;=;>2SO&J#O&1$%>& 21>?;=>=B&$<0>=#&>?&1$%2i$&V<1&$<P#O=2S&d>J12&=1&?>&=;$J#O%;O<;=>=&?>& J>2>J%12M$%;J>&0S$&=1$%>J>=>&=1&?>&1$%2<J%<2>&RS$;J>&=1&?>&C;=>D&

81&J>2>&>?&%2>%#&P2]_;0#&J#O&%+.*',+9$(5%B&J;R#2"$&I&#2=1O>=#21$& %+.*'7(-*27&*(-*%B&a>2>2;&J#OAM>&0S$&1O&pV<;1O1$&>=0;%>O&$<&;"O#2>OJ;>& V<1&1O&?#$&V<1&P2#J?>0>O&$<&;OA>?;R;?;=>=qD&&& M0,/-%!.5%.KHJ8J 5?&><%#2&>=C;12%1&V<1&?>&J#0P?1U;=>=&=1&?#$&P2#J1$#$&"?#R>?1$&>A1J%>& $<& J#0P21O$;]O& I& 1$& =;AMJ;?& V<1& >?"<;1O& P<1=>& 1O%1O=12?#$& P#2& $M& $#?#D&71&P21"<O%>&J]0#&P#=2M>0#$&J#O#J12&?#&V<1&1$&C12=>=&C12$<$& ?>& P2#P>">O=>& I& ?>& =1$;OA#20>J;]OD& !R#2=>& >$M& ?>& .5%1*')$)& I& ?>& J#0P21O$;]O& 1O%21& A1Jd#2M>$& I& U<$%;J;>D& v5$& J>P>b& [5954K$.7*(%& =1& =>2&$1O%;=#&>?&0<O=#&V<1&d>&J21>=#wB&v1_;$%1&<O>&A2#O%12>&J?>2>&V<1& $1P>21&21>?;=>=&=1&A;JJ;]Ow&

50#06(

-OC1O%>2& A;JJ;#O1$& I& J#OC1OJ12& >& #%2#$& =1& J2112?>$& 1$& <O>& d>R;?;=>=& d<0>O>& V<1& R<$J>& #R1=;1OJ;>& I& J##P12>J;]O& 1A;J>bD& p5?& P#=12& =1& ?>& J##P12>J;]O&d<0>O>&=1P1O=1&=1&<O&1V<;?;R2;#&=1?;J>=#&1O%21&C12=>=&I& A;JJ;]OqB&$#$%;1O1&a>2>2;D&v5$%>0#$&>?&$12C;J;#&=1?&P#=12&#&=1&?>&C12=>=wB& v=1R12M>0#$&<O;2&>&%#=#$&P>2>&J2112&<O>&0;$0>&d;$%#2;>&#&?#$&=1U>0#$& $>R12&?>&C12=>=B&;OJ?<$#&>?&P21J;#&=1&?>&=1$<O;]Ow&c>?&1$&1?&=;?10>&=1&

v9]0#& P21P>2>0#$& >& ?#$& O;+#$& P>2>& 1OA21O%>2& <O& 0<O=#& J#0P?1U#& I& =1& ;OJ12%;=<0R21& 2>=;J>?w& & E>$& d>R;?;=>=1$& =1& d#I& $12SO& P#J#& 21?1C>O%1$&1O&'(L(&Ñ>P<O%>&a>2>2;Ñ&P#2&?#&V<1&$12M>&$1O$>%#&>I<=>2?#$& >&=>2&$1O%;=#&>&?>&;OA#20>J;]OB&%#0>2&P#$;J;]O&A21O%1&>&?#&V<1&1$&#&O#& ;0P#2%>O%1&I&J#0P21O=12&1?&0<O=#&;O%1"2>?01O%1D&!?"<O>$&=1$%21b>$& $12SO& ;O=;$P1O$>R?1$& P>2>& 1??#Y& P1O$>0;1O%#& J2M%;J#B& J21>%;C;=>=B& J#0<O;J>J;]O& I& J#?>R#2>J;]On& 0>O1U#& =1?& J>0R;#n& >P21O=12& J#$>$& O<1C>$n&A?1_;R;?;=>=&01O%>?n&I&"2>O=1$&21$12C>$&=1&1V<;?;R2;#&10#J;#O>?D & 9#O#J12$1& >& $M& 0;$0#& I& #R$12C>2$1& $1& C<1?C1& ;0P21$J;O=;R?1Y& p5?& $<A2;0;1O%#&O#&1$&<O>&J#O=;J;]O&#RU1%;C>&1O&1?&0<O=#&1_%12;#2D&5$&<O>& 21>JJ;]O&01O%>?&"1O12>=>&P#2&0;&P2#P;>&01O%1qD&E>&01=;%>J;]O&P120;%1& O#&d<;2&=1&?>&21>?;=>=&$;O#&1O%2>2&1O&1??>B&I&>I<=>&>&J#0P21O=12&O<1$%2>& 01O%1&>O%1$&V<1&?#$&>?"#2;%0#$&?#&d>">O&P#2&O#$#%2#$&ÑJ#OJ?<I1ÑD N;O>?01O%1B&$;&R;1O&J<1$%;#O>&?>&=10#J2>J;>&?;R12>?B&a>2>2;&=1A;1O=1&1?& P1O$>2&J]0#&P#=10#$&>=>P%>2&I&01U#2>2&$<$&;O$%;%<J;#O1$&>J%<>?1$D& 5?;"1&?>&=;$J<$;]O&?;R21&A21O%1&>&?>&><%#J1O$<2>B&>2"<01O%>O=#&V<1B&$;O& J2M%;J>$&>?&0#=1?#&?;R12>?B&O#&$1&P<1=1&21P>2>2&$<$&A>??>$D ,KUKHKIGQ8:%WQWOQ49H]UQG8: a>2>2;B& e<C>?& .D& Z'()\[& _`42*##75(*%4.$'$4*24%7&254aaZ"& T#"#%SB& 9#?#0R;>Y& F1O"<;O&6>O=#0&a#<$1D

"*+4)9,5:;/7U=>E=<>7@/A/BC4:D,5:;/<P=>J=<>7@/0/F:+:.;/sN3,-/':,O/_,4,42/`.2+2:/e)Da/A/jO)/M,k,4+,/$:.+/`sN3,-/':,O/_,4,42AF2-)a

5?& ><%#2& =;A121OJ;>& >& 8;#$& J#0#& 0;$%12;#& J]$0;J#& V<1& 1_P?;J>& ?#$& 0>I#21$&1O;"0>$&=1?&<O;C12$#&C12$<$&1?&?1";$?>=#2&$1C12#&I&0<O=>O#B& >& V<;1O& $1& ;OC#J>& P>2>& =1A1O=12& =1J21%#$& I& =121Jd#$Y& p5?& 1$?>R]O& P12=;=#& 1O%21& 1?& 0;$%12;#& J]$0;J#& I& 1?& ?1";$?>=#2& 0<O=>O#& $<1?1& P2#P#2J;#O>2?#&>?"/O&?;R2#&$>"2>=#qD

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)


BIBLIOTECA

P7


()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

,,, &RQIHUHQFLD 5HJLRQDO GH (GXFDFLyQ 6XSHULRU SDUD $PpULFD /DWLQD \ HO &DULEH

3ODQ GH DFFLyQ

5O&U<O;#&=1&'()\&%<C#&?<">2&1O&9]2=#R>B&!2"1O%;O>B&?>&---&9#OA121OJ;>& 61";#O>?& =1& 5=<J>J;]O& 7<P12;#2& Z9657[B& 1O& 1?& 0>2J#& =1?& J1O%1O>2;#& =1& ?>& 61A#20>& 4O;C12$;%>2;>& =1& )*)\B& V<1& 0>2J]& %2>O$A#20>J;#O1$& ;0P#2%>O%1$&P>2>&?>&21";]O&1O&%10>$&J#0#&><%#O#0M>B&=10#J2>%;b>J;]OB& ><%#O#0M>B& ?;R12%>=& =1& JS%1=2>B& "2>%<;=>=& =1& ?>& 1O$1+>Ob>& I& C;$;]O& ?>%;O#>012;J>O>D& !?& %i20;O#& =1& ?>& 21<O;]O& $1& P2#J?>0]& ?>& 81J?>2>J;]O&9657&'()\)B&V<1&J#O$%;%<;2M>&?>&d#U>&=1&2<%>&P>2>&=1A;O;2&1?& J#221$P#O=;1O%1&F?>O&=1&!JJ;]OB&>P2#R>=#&1O&E;0>B&1O&0>2b#&=1&'()*D 5?&F?>O&=1&!JJ;]O&'()\W'('\B&1O0>2J>=#&1O&?#$&lRU1%;C#$&=1&81$>22#??#& 7#$%1O;R?1& '(H(& =1& ?>$& .>J;#O1$& 4O;=>$& I& 1?& @>2J#& =1& !JJ;]O& =1?& l87& 3& Z5=<J>J;]O& '(H([B& J#O%;1O1& ?#$& P2;OJ;P;#$B& S21>$& 1$%2>%i";J>$B& ?;O1>0;1O%#$B& #RU1%;C#$B& 01%>$& I& %SJ%;J>$& ;O=;J>%;C>$& V<1& #2;1O%>2SO& ?>$&>"1O=>$&<O;C12$;%>2;>$&P>2>&?>&P2]_;0>&=iJ>=>B&=1$=1&<O&J#O%1_%#& 0<O=;>?B&21";#O>?&1&;O$%;%<J;#O>?D MHQIGQRQ4:%JKGO8H8;QY4:%:4WHK%O8%KJLG8GQ\I%:LRKHQ4H )D& 5$&<O&R;1O&P/R?;J#&$#J;>?W1$%2>%i";J#B&<O&=1R12&=1?&5$%>=#B&<O&1$P>J;#& =1& J#O#J;0;1O%#B& <O& =121Jd#& d<0>O#& I& <O;C12$>?B& I& $<& 1U12J;J;#& P2#A<O=;b>&?>&=10#J2>J;>&I&P#$;R;?;%>&?>&$<P12>J;]O&=1&?>$&;O1V<;=>=1$D 'D&5$&P12%;O1O%1&I&J#O&">2>O%M>$&P/R?;J>$&=1&P2#J1$#$&=1&>$1"<2>0;1O%#& =1&?>&J>?;=>=D

HD&5$&J#O$%2<J%#2>&=1?&J#O#J;0;1O%#&J#0#&=121Jd#&d<0>O#&<O;C12$>?& I&=121Jd#&J#?1J%;C#&=1&?#$&P<1R?#$B&J#0#&R;1O1$&P/R?;J#$&$#J;>?1$&I& J#0<O1$&P>2>&?>&$#R12>OM>B&R<1O&C;C;2&I&10>OJ;P>J;]O&$#J;>?B&I&P>2>& 1?&J;0;1O%#&=1&?>&;O%1"2>J;]O&?>%;O#>012;J>O>&I&J>2;R1+>D 3D&71&=1A;O1&1O&$<&J#0P2#0;$#&$#J;>?B&R>$>=#&1O&?>&61$P#O$>R;?;=>=& 7#J;>?&4O;C12$;%>2;>&Z674[B&?>&61$P#O$>R;?;=>=&7#J;>?&c122;%#2;>?&Z67c[& I&?>&61$P#O$>R;?;=>=&7#J;>?&c122;%#2;>?&c2>O$A#20>=#2>&Z67c'[D LD&71& A#2%>?1J1& 1O& ?>& =;C12$;=>=& J<?%<2>?& I& ?>& ;O%12J<?%<2>?;=>=B& 1O& J#O=;J;#O1$& 1V<;%>%;C>$& I& 0<%<>01O%1& 21$P1%<#$>$& =1& ?#$&

"*+4)9,5:;/><=>E=<>7@/A/BC4:D,5:;/>8=>E=<>7@/0/%-N.+4,S2T*;/F4))C2k

!"#$!$%&!'"()

!) + " + , " . 2 $ % -


!+

}& 9>?;=>=Y& 1A;J>J;>& I& $#$%1O;R;?;=>=& 1O& 1?& >?J>OJ1& =1& ?#$& #RU1%;C#$B& 0;$;]O& I& C;$;]O& =1& ?>$& ;O$%;%<J;#O1$& =1& 1=<J>J;]O& $<P12;#2& 1O& !0i2;J>&E>%;O>&I&1?&9>2;R1B&1_P21$>=>&1O&?>&=;A121OJ;>J;]OB&21?1C>OJ;>& I&P12%;O1OJ;>D }& N#20>J;]O& =#J1O%1Y& "1O12>J;]O& =1& J#O#J;0;1O%#$& >J%<>?;b>=#$& I& =;"O;A;J>J;]O&=1&?>&P2#A1$;]O&=#J1O%1B&=1$>22#??>O=#&P2#I1J%#$&V<1& J#O=<bJ>O&>&?>&21C>?#2;b>J;]O&$#J;>?&I&>?&01U#2>0;1O%#&=1&?>&J>?;=>=& =1&C;=>&=1&?#$&=#J1O%1$D

P<1R?#$& ;O=M"1O>$B& $8'5)*%#*()7*(-*%& I& "2<P#$& =1& ?>& P#R?>J;]O& A21J<1O%101O%1&=;$J2;0;O>=#$D QD& 5$& ><%]O#0>B& J#0#& <O>& J#O=;J;]O& ;0P21$J;O=;R?1& P>2>& V<1& ?>$& ;O$%;%<J;#O1$&1U12b>O&<O&P>P1?&J2M%;J#&I&P2#P#$;%;C#&=1&J>2>&>&?>&$#J;1=>=D ^D&61$P#O=1& >& ?#$& #RU1%;C#$& =1& =1$>22#??#& $#$%1O;R?1& =1& A#20>& ;O%1"2>=>B& =>=>& ?>& J#0P?1U;=>=& $#J;>?B& 1J#O]0;J>B& P#?M%;J>B& 1=<J>%;C>B&J<?%<2>?B&?;O"ÇM$%;J>B&R;#?]";J>&I&"1#"2SA;J>&=1&?>&21";]O& =1&!0i2;J>&E>%;O>&I&1?&9>2;R1D \D&5$& ;OJ?<$;C>& >?& J#O$;=12>2& 1O& ?#$& $;$%10>$& 1& ;O$%;%<J;#O1$& =1& 1=<J>J;]O&$<P12;#2&1?&"iO12#B&?>&1=>=B&$;%<>J;]O&$#J;#1J#O]0;J>B& #2;1O%>J;]O& $1_<>?B& =;$J>P>J;=>=B& 21?;";]O& I& ?>$& $;%<>J;#O1$& =1& =1$P?>b>0;1O%#&A#2b>=#D wHK8:%K:;H8;Z9QG8: }& 61J#O#J;0;1O%#&>J>=i0;J#Y&=1$>22#??#&=1&P#?M%;J>$&I&P2#"2>0>$& J#O$1O$<>=#$&J#O&0;2>$&>&21=<J;2&?#$&#R$%SJ<?#$&V<1&1OA21O%>O& ?#$&1$%<=;>O%1$B&=#J1O%1$&1&;OC1$%;">=#21$B&<O>&C1b&V<1&$1&21>?;b>O& ?#$&P2#J1$#$&=1&0#C;?;=>=D }& 9#R12%<2>&I&>2%;J<?>J;]OY&P2#P#2J;]O&=1&1$%<=;>O%1$&0>%2;J<?>=#$& I&>$P;2>O%1$&>&;O"21$>2&1O&1?&$;$%10>&=1&1=<J>J;]O&$<P12;#2B&J#O& 0;2>$&>&$<P12>2&?>&%>$>&R2<%>&=1&0>%2;J<?>J;]O&=1?&L(~D }& -O$%;%<J;#O>?;b>J;]O&I&"1$%;]O&=1&?>&;O%12O>J;#O>?;b>J;]OY&=1$>22#??#& 1& ;0P?101O%>J;]O& =1& P#?M%;J>$& I& P2#"2>0>$& P>2>& ;O%1"2>2& ?>& =;01O$;]O& ;O%12O>J;#O>?B& V<1& %2>$J;1O=1& ?>$& A2#O%12>$& =1& ?>$& ;O$%;%<J;#O1$&=1&1=<J>J;]O&$<P12;#2B&A#20>?;b>O=#&?#$&R1O1A;J;#$& =1&?>&J##P12>J;]O&;O%12O>J;#O>?&P>2>&?>&J#0<O;=>=&>J>=i0;J>D

}& 81$>22#??#&$#$%1O;R?1Y&R>$>=#&1O&1?&>JJ1$#B&?>&1V<;=>=B&?>&;OJ?<$;]OB& ?>& J>?;=>=B& 1?& >P21O=;b>U1& I& ?>& 1=<J>J;]O& $<P12;#2B& 1O& $<& P>P1?& 1$%2>%i";J#& P>2>& $<& ?#"2#B& ;O%12P21%>O=#& ?>$& =10>O=>$& =1& ?#$& P<1R?#$&=1&!0i2;J>&E>%;O>&I&1?&9>2;R1D }& :2>O& 9>2;R1Y& >"1O=>& 21";#O>?& V<1& A#01O%1& ?>& J##P12>J;]O& >J>=i0;J>& I& 1?& =1$>22#??#& =1& P2#I1J%#$& ;O%12;O$%;%<J;#O>?1$& J#OU<O%#$B&P>2%;J<?>201O%1&1O&?#$&P>M$1$&=1&d>R?>&;O"?1$>B&A2>OJ1$>B& d#?>O=1$>&I&J2;#??#&d>;%;>O#D& AWbK;QY4: )D&61>A;20>2&1?&P>P1?&A<O=>01O%>?&=1&?>$&;O$%;%<J;#O1$&=1&1=<J>J;]O& $<P12;#2& P>2>& ?>& %2>O$A#20>J;]O& 1J#O]0;J>B& $#J;>?B& P#?M%;J>B& J;1O%MA;J>&I&J<?%<2>?&=1&?>&$#J;1=>=&1O&!0i2;J>&E>%;O>&I&1?&9>2;R1D& 'D&N#2%>?1J12&1?&J#0P2#0;$#&=1&?>$&;O$%;%<J;#O1$&=1&1=<J>J;]O&$<P12;#2& =1&!0i2;J>&I&1?&9>2;R1&J#O&?>&%2>O$A#20>J;]O&I&1?&>C>OJ1&=10#J2S%;J#& =1&O<1$%2>$&$#J;1=>=1$B&21>A;20>O=#&?#$&C>?#21$&21P<R?;J>O#$&I&?#$& =121Jd#$&d<0>O#$D HD&N#2%>?1J12&I&J#O$#?;=>2&?>&><%#O#0M>&<O;C12$;%>2;>&I&1?&J#0P2#0;$#& $#J;>?&=1&?>$&;O$%;%<J;#O1$&=1&1=<J>J;]O&$<P12;#2B&1O&?#$&P>M$1$&=1& !0i2;J>&E>%;O>&I&1?&9>2;R1D 3D&5$%>R?1J12& I& A#2%>?1J12& 21"<?>J;#O1$& >& ?>& 1=<J>J;]O& $<P12;#2& 1O& !0i2;J>& E>%;O>& I& 1?& 9>2;R1& P>2>& >$1"<2>2& V<1& J<0P?>O& J#O& $<& A<OJ;]O&P/R?;J>D LD&-0P<?$>2&?>&P>2%;J;P>J;]O&>J%;C>&=1&?>$&;O$%;%<J;#O1$&=1&1=<J>J;]O& $<P12;#2&1O&1?&A#2%>?1J;0;1O%#&=1&?#$&$;$%10>$&1=<J>%;C#$&O>J;#O>?1$D /K_;4%4HQ9QI8O$&d%%P$YmmR;%D?Im'6),xRR&

$:4/62-5,/G,SK,./#,4R29*,*2

!"#$!$%&!'"()

+"+,".2$%-

()*+,*,-)./0/BI:/(%%%/':7E


+"+,".2$%-

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

&')(;'5(&!+"

9<>O=#&??1"<i&>&@;>0;&1O&1?&>+#&t**B&R<$J>O=#&J>0;O#&1O&1?&0<O=#& P<R?;J;%>2;#B&O#&$>RM>&V<1&1_;$%M>&%>?&J#$>&J#0#&1?&012J>=#&d;$P>O#&O;& V<1& %120;O>2M>& %2>R>U>O=#& P>2>& <O>& >"1OJ;>& 1$P1J;>?;b>=>& 1O& =;Jd#& 012J>=#n&P1#2&>/O&%1OM>&;=1>&V<1&J#0<O;J>2?1&>&"1O%1&V<1&d>R?>&0;& P2#P;#&;=;#0>&$12M>&%>O&=;AMJ;?B&I&d>$%>&=1?;J>=#D E1$&=1$J2;R#&<O&P#J#&1?&P>O#2>0>n&;0>"MO1O$1&?>&%#221&=1&T>R1?B&P12#& J#?0>=>& =1& >J1O%#$& d;$P>O#$& P2#C1O;1O%1$& =1& P>M$1$& J#0#& @i_;J#B& 9<R>B& 5?& 7>?C>=#2B& .;J>2>"<>B& F<12%#& 6;J#B& 61P/R?;J>& 8#0;O;J>O>B& 9#?#0R;>B& 5J<>=#2B& !2"1O%;O>B& ,1O1b<1?>& I& F12/B& P2;OJ;P>?01O%1D& E#& J?>C1&1$&V<1&O#&%#=#$&C;C1O&1O&?>$&0;$0>$&J;<=>=1$B&I&=1&>dM&=12;C>& 1?& P2#R?10>D& 9<>O=#& <O& P<R?;J;$%>& #& J#0<O;J>=#2& V<;121& d>R?>2?1& >& %#=>$& 1$%>$& J<?%<2>$B& I& O#& 1$%S& >?& %>O%#& =1& $<$& ;=;#$;OJ2>$;>$B& 1$& >dM& J<>O=#&10P;1b>&?#&;O%121$>O%1D

"*+4)9,5:;/<<=>E=<>7@/A/BC4:D,5:;/8>=>J=<>7@/0/%-N.+4,S2T*;/F4))C2kAF,D42LL2:/oTC)L

!$


+ " + , " . 2 $ % - !%

()*+,*,-)./0/BI:/(%%%/':7E

E>&0>I#2&A2<$%2>J;]O&$1&?>&??1C>O&<$<>?01O%1&?#$&21=>J%#21$&P2#C1O;1O%1$& =1&P>M$1$&=#O=1&1?&J>$%1??>O#&d>&$;=#&0<I&%2>$%#J>=#&=1$=1&%;10P#$& =1&?>&J#OV<;$%>B&P#2&1U10P?#B&O<1$%2#$&>0;"#$&>2"1O%;O#$B&>?"<O#$&=1& J;12%>$&P>2%1$&=1&9#?#0R;>B&I&O;&$1&=;">&=1&?#$&P<12%#22#$)D&!V<M&d>"#& <O&1$P>J;#&P<R?;J;%>2;#&P>2>&>"2>=1J12&>&0;&P2#"1O;%#2B&P#2&=>201&1?& "1O&=1&=;21J%#2&=1&>2%1&I&O#&1?&=1&?>$&?1%2>$D& E#$& sP#R21$t& 21=>J%#21$& 21J;iO& ??1">=#$& >& ?>& >"1OJ;>& =#O=1& %2>R>Ui& ;R>O& $10R2>O=#&0;O>$&;=;#0S%;J>$B&V<1&1_P?#%>R>O&>P1O>$&?>$&J#0P>2%M>O&J#O& #%2#$&21=>J%#21$D&52>&0<I&J#0/O&1O&?>&>"1OJ;>B&??1O>&=1&J<RMJ<?#$&>&01=;>& >?%<2>B&C12&>&?#$&21=>J%#21$&?1C>O%>2$1&I&>$#0>2&?>&J>R1b>B&J#0#&P122#$&=1& ?>&P2>=12>&Z.'$7'7*4)5&%[B&I&"2;%>2Y&pv9]0#&$1&1$J2;R1&1O&01_;J>O#&%>?&J#$>wqD& 5O%;iO=>$1&p01_;J>O#q&J#0#&1?&;=;#0>&P$1<=#&#A;J;>?&=1&?#$&d;$P>O#$&1O& 5$%>=#$&4O;=#$B&>&O;C1?&P<R?;J;%>2;#B&I&P$1<=#B&P#2V<1&%>0R;iO&$1&;OC1O%>O& <O>$&J<>O%>$&U#I;%>$&?#$&J#0P>+12#$&01$d;J>$'&D c#010#$&=1&1U10P?#&<O>&A2>$1&$;0P?1&V<1&O#&%1O=2M>&O;O"/O&P2#R?10>& 1O&5J<>=#2B&%>?&C1b&O#&">O>2M>&<O&9]O=#2&>&01U#2&#5.=6&P12#&01&$;2C1& P>2>&;?<$%2>2D&pv@1&=>&<O&$#2R1%1&P>2>&?>&J#?>B&P#2&A>C#2wqD&9<>?V<;12& 1J<>%#2;>O#&P#=2M>&=1J;2&1$%>$&P>?>R2>$&I&O#&0>?;O%12P21%>2?>$B&P12#& ?1& =;J1$& 1$#& >& <O& 01_;J>O#& I& $1& J>1& >?& P;$#& =1& ?>& 2;$>B& I& J<>O=#& $1& 21J<P121&%1&P21"<O%>2S&pv<O&V<iwqB&pvI&P>2>&=]O=1wqD&5??#$&=1$J#O#J1O& V<i&$;"O;A;J>&p$#2R1%1qB&I&>$M&J#O&<O&$;OO/012#&=1&P>?>R2>$&0S$D F>2>& V<1& $1& =1O& <O>& ;=1>B& 1$%>$& $#O& ?>$& C>2;>J;#O1$& =1& p$#2R1%1q& 1O& 1?& 0<O=#&d;$P>O#Y&P;%;??#B&P>U;??>B&P>U;%>B&>R$#2R1O%1B&P#P#%1B&J>+;%>B&R#0R;??>B& J>?;01%1B& J>22;b#B& $#2R1%#D& l%2#& 1U10P?#B& pJ>O"<;?qY& J>R2;%>$B& J>OJd;%>$B& P#Jd#J?#B&J#%<A>$B&J2;$P1%>$B&P#P#2#P#B&P>?#0;%>$&=1&0>MbB&1%JD

4O>&>OiJ=#%>&;O%121$>O%1&=1?&A1O]01O#&d;$P>O#&1O&1$%1&P>M$&A<1&J<>O=#& %<C1&=1&J?;1O%1&>&<O&J>O>?&=1&%1?1C;$;]O&O>J;#O>?B&$;O&O#0R2>2&J<S?B&$#?#&?1$& =1U#&<O>&P;$%>B&$<1O>&J#0#&7#_&P12#&J#O&ND&&E#$&V<1&J#O#J1O&=1&01=;#$& $>R1O&V<1&<O&J>O>?&C;C1&I&0<121&=1&0>O#&=1&?#$&'$-7(&%B&P#2&1$%>&2>b]OB&

E#&V<1&>P21O=M&=1&=;Jd#$&1OJ<1O%2#$&1$&?#&1$1OJ;>?&V<1&1$&1?&>J1O%#&1O& <O&P2#"2>0>D&7;&<O>&$12;1&J#0#&p5?&J>P#qB&=1&P2#=<JJ;]O&J#?#0R;>O>B& $1& 0#$%2>R>& 1O& 9>?;A#2O;>B& 1?& '$-7(&& R>U>R>& J#O$;=12>R?101O%1n& 1O& J>0R;#B& 1O& ?>& N?#2;=>& 21C1O%>R>& 1?& %1Jd#D& F12#& $;& ?#$& >J%#21$& 12>O& 01_;J>O#$B& 1O%#OJ1$& 12>& >?& 21Ci$B& N?#2;=>& J>M>& I& 9>?;A#2O;>& 1& -??;O#;$& $<RM>O&>?&%#P1D l%2>&>OiJ=#%>&1$&V<1&0<Jd>$&C1J1$&?#$&J?;1O%1$&O#&12>O&d;$P>O#$B&#&d>RM>& <O>&01bJ?>&1O%21&d;$P>O#$&I&"2;O"#$B&>$M&V<1&%1OM>$&V<1&??1C>2&?#$&%#'7.-%& 1O&%21$&C12$;#O1$Y&1$P>+#?B&V<1&$12M>&?>&C12$;]O&J21>%;C>n&<O>&%2>=<JJ;]O&>?& ;O"?i$&?;%12>?B&I&#%2>&1O&;O"?i$&s>O"?#$>U#O>=>tB&??>0>=>&-'$(%#'*$-75(D&5$%>& /?%;0>&12>&1O&J>$#&=1&V<1&O#&1O%1O=;12>O&O>=>&=1&?>&C12$;]O&?;%12>?B&#&=1& V<1&$1&P12=;12>O&7(%7&,-%&#&Jd;$%1$&IB&P#2&1O=1B&$1&O1J1$;%>R>&211$J2;R;2&1?& "<;#OB&1O&<O&;O"?i$&0S$&A>0;?;>2&P>2>&1??#$B&1_P?;J>O=#&?#&V<1&V<12M>$&=1J;2& 1O&1?&$J2;P%";O>?B&P12#&O#&?;%12>?01O%1D& 5O& A;OB& 1$%1& d>& $;=#& <O& 21J#22;=#& A<">b& P#2& 1?& 0<O=#& P<R?;J;%>2;#& d;$P>O#B&1?&J<>?&d>&1O2;V<1J;=#&0;&C#J>R<?>2;#&J#O&P>?>R2>$&V<1&O<OJ>& <$#B&P12#&>?&01O#$&?>$&1O%;1O=#D&9#O&1?&P>$#&=1&?#$&>+#$&>P<O%#&0S$& J#O&?>&R#J>B&P>2>&O#&=1J;2&>?"<O>&R>22>R>$>=>D&@1&>J<12=#&V<1&>?"<O>& C1b&1$J<Jdi&d>R?>2&>&<O&>0;"#&V<1&21"21$]&=1&5$P>+>B&=1$P<i$&=1&C;C;2& >?"<O#$& >+#$& >??SB& I& %120;O]& >=#P%>O=#& 0<JdM$;0>$& P>?>R2>$& J#0#& pP;$#q&#&pJd>C>?qD&@1&P21"<O%>R>&1O%#OJ1$B&pvJ]0#&P<1=1$&%2>;J;#O>2& >& %<$& 2>MJ1$& >$M& =1& ASJ;?wqD& .#& 1O%1O=M>& J]0#& =1$P<i$& =1& <O& %;10P#& >?"<;1O&P#=M>&#?C;=>2&?>&A#20>&J]0#&d>&d>R?>=#&%#=>&?>&C;=>{&9#2%1& >{&<O#$&J<>O%#$&>+#$&0S$&%>2=1B&>&C1J1$&01&P21"<O%>O&=1&V<i&P>2%1& =1&@i_;J#&$#ID F2#C1O;1O%1$&=1&F<12%#&6;J#D &F2#O<OJ;>J;]O&A#Oi%;J>&=1&?>&?1O"<>&OSd<>%?B&=1?&P<1R?#&01_;J>O#D

)& '

$:4/i,*+2,9:/GN.\)-5+ :2>=<>=#&=1&@>2g1%;O"&=1&?>&5$J<1?>&=1&9#0<O;J>J;]O& @]O;J>& a12212>D& ciJO;J#& 1O& F<R?;J;=>=& I& 8;21JJ;]O& =1& !2%1& =1& @;>0;& !=& 7Jd##?& I& >J%<>?01O%1& 1$& 8;21J%#2& 921>%;C#&1O&?>&>"1OJ;>&Ä2R#?&9#00<O;J>%;#O$&:2#<PD

&')(;'5(&!+"

@<Jd>$&C1J1$&I#&=1JM>&V<1&1?&012J>=#&d;$P>O#&1$&J#0#&J;OJ#&012J>=#$& 1O&<O#B&P#2V<1&O#&$#?#&d>I&V<1&$>R12&>&V<;iO&d>I&V<1&d>R?>2?1B&1O& %i20;O#$&=1&"iO12#&I&1=>=n&%>0R;iO&$;&1$&P2;012>B&$1"<O=>&#&%12J12>& "1O12>J;]OB& P#2V<1& >dM& J>0R;>& ?>& J#$>D& 5$#& O#$& =;J1& $;& d>R?>& #& O#& 1$P>+#?n&#&1O&V<i&P>2%1&=1?&P>M$&$1&P#=2M>&>O<OJ;>2B&P#2V<1&>dM&C>2M>& 1?&%;P#&=1&?1O"<>U1&V<1&$1&<%;?;b>D&F#2&1U10P?#B&1O&9>?;A#2O;>&<O#&=;J1& pJ>0;#O1%>qB&P12#&1O&?>&N?#2;=>&1$&<O>&p74,qD&5O&9>?;A#2O;>B&$;&<$>$&<O& ?#J<%#2&J#O&>J1O%#&>2"1O%;O#B&%1&P>2%1O&1?&%1?1C;$#2n&P12#&1O&?>&N?#2;=>& ?1$&P>21J1&O#20>?D&F#2&1$#B&1O&%#=#$&?#$&>'7*8%4?#$&P2#=<J%#21$&d>J1O& #5.=4=4.$%-*Y&pE#J<%#2&J#O&>J1O%#&O1<%2#qB&I&$1&>d#22>O&1?&P2#R?10>D

%1OM>0#$&21<O;#O1$&C>2;>$&C1J1$&>&?>&$10>O>B&P>2>&>O>?;b>2&?#&V<1&d>RM>& P>$>=#&?#$&=M>$&>O%12;#21$B&I&>$M&>U<$%>2&?#$&01O$>U1$D


$:4/i,*54,/6N)44)4:/G,4+K*)L @>"M$%12& 1O& :121OJ;>& I& E;=12>b"#& 5=<J>J;#O>?& =1& ?>& 4O;C12$;=>=& ciJO;J>& F>2%;J<?>2& =1& E#U>D& 8#J1O%1& =1& ?>& 4O;C12$;=>=&9>$>&:2>O=1&Z49:[&=1&E1O"<>U1B&J#0<O;J>J;]OB& =1$>22#??#&=1&d>R;?;=>=1$&=1?&P1O$>0;1O%#&J2M%;J#&I&J21>%;C#B& 1O&C>2;>$&J>2212>$D

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

"*+4)9,5:;/7J=>E=<>7@/A/BC4:D,5:;/<?=>E=<>7@/0/%-N.+4,S2T*;/F4))C2k

&')(;'5(&!+"

!& + " + , " . 2 $ % -


+"+,".2$%-

()*+,*,-)./0/BI:/(%%%/':7E

lR$12C>J;]OB&J#0P>2>J;]OB&21?>J;]OB&=;$%2;R<J;]O&$;0P?1B&#2=1O>0;1O%#B& J?>$;A;J>J;]O& U12S2V<;J>B& >OS?;$;$B& $MO%1$;$& I& 1C>?<>J;]O& $#O& d>R;?;=>=1$& RS$;J>$& =1?& P1O$>0;1O%#B& >P%;%<=1$& ;OO>%>$& =1?& $12& d<0>O#B& P12#& J<>O=#&1$%>$&$#?#&J#0P#O1O&<O&21J<2$#&10PM2;J#&=1&>P21O=;b>U1B&$;O& ;O%1OJ;]OB&$;O&01%>221A?1_;]OB&=;AMJ;?01O%1&$1&J#O$%;%<;2SO&1O&<O&21J<2$#& P1=>"]";J#&=1&>P21O=;b>U1B&"<;>=#&1O&1?&><?>B&P>2>&?<1"#&$12&><%]O#0#& 1O&?>&C;=>&=;>2;>D & & pE#$& >O>?A>R1%#$& =1?& $;"?#& XX-& O#& $12SO& >V<1??#$& V<1& O#& $1P>O& ?112& I& 1$J2;R;2B& $;O#& >V<1??#$& V<1& O#& P<1=>O& >P21O=12B& =1$>P21O=12& I& 21>P21O=12qB&>_;#0>&=1&!?C;O&c#AA?12B&Z8>2#$B&'()L[D&&!P21O=12&1$&ASJ;?B& =1$>P21O=12&1$&J#0P?;J>=#&I&21>P21O=12&1$&<O&1U12J;J;#&=1&d>R;?;=>=1$& =1?&P1O$>0;1O%#D&E>&#R$12C>J;]OB&?>&P2;012>D !&?>&#R$12C>J;]O&?1&$1"<;2SO&#%2>$&d>R;?;=>=1$&V<1&=1R1O&$12&1$%;0<?>=>$& I& $1>O& P2#=<J%#& =1& 21A?1_;]O& 01%>J#"O;%;C>B& ;O%1OJ;]O& =1& 21P1O$>2& #& =1$>P21O=12&P>2>&>$M&=1=<J;2&<O&O<1C#&J#O$%2<J%#&J#"O;%;C#B&21>P21O=12& ZE<"#&81O;$B&!?#O$#&e;0iO1b&I&8;i"<1bB&'()L[D v9]0#& >P21O=10#$& >& >P21O=12w& 81P1O=12S& =1& ?>$& K:;H8;K9Q8:% SK;8G49IQ;QY8:[& J<I#& #RU1%;C#& $1>& ?>& 01%>221A?1_;]OD& .#& $1"<;2& <O& 0#=1?#& %>I?#2;$%>)& =1& P2#=<J%;C;=>=& J>P;%>?;$%>WR>OJ>2;>B& J#0#& $;& 1?& J#O#J;0;1O%#&A<12>&;=iO%;J#B&;O=;$J<%;R?1&I&%120;O>=#D&&p5$&P#2&1??#&V<1& d>I& A>J;?;%>2& 1?& >P21O=;b>U1& ><%]O#0#B& ><%#221"<?>=#& I& J#O%;O<>=#q& ZT#I12&I&N21I$$1O1%B&'(()[D 9#O$;"O>Y& pAW:KHY8& ?#$& 1O<OJ;>=#$& =1& ?>& =;>P#$;%;C>B& G4SR8H8& V<i& >$P1J%#$& ?#$& C;OJ<?>O& I& G4I;H8:;8& V<i& J>2>J%12M$%;J>$& =;A121OJ;>=#2>$& d>I&1O%21&1??#$qn&1?&1$%<=;>O%1&>$#J;>&1O&J#O%;O1O%1&I&J#O%1O;=#&1O&V<i& $101U>&?#&?1M=#B&?<1"#&=1=<J1&1O&V<i&O#&$#O&;=iO%;J#$D&E>$&J>2>J%12M$%;J>$& =;A121OJ;>=#2>$& I& ?>$& C>2;>R?1$& =1& >$#J;>J;]OB& =1A;O;2SO& <O& J#OJ1P%#& J#O$%2<;=#&$;"O;A;J>%;C#&Z9#%#&9d#%%#&I&8;2Jg;OJgWa#?0A1?=B&'((^[D E>&%>_#O#0M>&=1&T?##0&I&$<&21C;$;]O&=1?&'(()&1$&<O&21A121O%1B&$1+>?>& A>J<?%>=1$&=1&P1O$>0;1O%#&=1&#2=1O&01O#2&J#0#&`HKG4HJ8HaB&1$&=1J;2B& #R$12C>2&=1$=1&?>&010#2;>B&4W:KHY8GQ\I%QIJQHKG;85%

5?&J;J?#&=1&K#?RB&21P#%1OJ;>&?>&P12J1PJ;]O&I&1?&P2#J1$>0;1O%#&J#0#&<O>& =1&?>$&=;01O$;#O1$&=1?&>P21O=;b>U1&1O&J<>%2#&1%>P>$D&E>&P2;012>&1$&?>& K_RKHQKIGQ8% G4IGHK;8B& V<1& 21V<;121& $12& 4W:KHY8J8% T% 8I8OQV8J8& P>2>& A#20<?>2&J#OJ1P%#$&>R$%2>J%#$&V<1&$12SO&C12;A;J>=#$&#&1_P12;01O%>=#$& 1O& $;%<>J;#O1$& 21>?1$& #& $;0<?>=>$B& $;1O=#& i$%1& 1?& P2#J1$#& P>2>& J21>2& O<1C>$& 1_P12;1OJ;>$& J#OJ21%>$& I& >$M& J#01Ob>2& #%2#$& O<1C#$& J;J?#$& =1& >P21O=;b>U1& Z!2;>$& :>??1"#$B& '())[D& E>& >=V<;$;J;]O& =1& J#O#J;0;1O%#$& 1$& J><$>?B& %#=#& ?#& >O%1$& >P21O=;=#& 1$& J><$>& P>2>& >?J>Ob>2& <O& O<1C#& >P21O=;b>U1B&1A1J%#D 5U10P?#& =1& <O>& 1_P12;1OJ;>& 1O& J?>$1& J#O& <O& O;+#& =1& J;OJ#& >+#$Y& $<& 0>0S& ;O=;J>& V<1& O#& d>R?>& %>O%#& J#0#& $<$& J#0P>+12#$B& $1& 21V<;121& 4W:KHY8GQ\I% K% QI;KH8GGQ\I& J#O& i?n& ?<1"#& <O>& HKUOK_Q\I% JK% O8% K_RKHQKIGQ8% I&P#$%12;#201O%1&J#OJ1P%<>?;b>J;]O&>R$%2>J%>&P>2>&??1">2& >& <O>& J#OJ?<$;]On& I& ?#"2>2& ?>& 1_P12;01O%>J;]O& >J%;C>& #& P?>O1>2& <O& P2#%#J#?#&=1&;O%12C1OJ;]OD& E#&>O%1$&1U10P?;A;J>=#&1$&1O&1=<J>J;]O&%12J;>2;>B&I&P<1=1&$12&>=>P%>=#& P>2>&%#=#&O;C1?B&J#O&<O&/O;J#&>"2>C>O%1Y&?#$&0>1$%2#$&<O;C12$;%>2;#$&O#& P#=10#$&1?<=;2&1?&d>J12&=1&O<1$%2>$&><?>$&<O>&$#J;1=>=&=1?&>P21O=;b>U1B& =1?&J#O#J;0;1O%#&Z21J#O$%2<;=#[D ,KUKHKIGQ8: !2;>$& :>??1"#$B& yD& Z'())[D& 5$%;?#$& =1& >P21O=;b>U1& 1O& 1$%<=;>O%1$& <O;C12$;%>2;#$& I& $<$& P>2%;J<?>2;=>=1$& 1O& A<OJ;]O& =1& ?>& J>2212>B& 1?& "iO12#&I&1?&J;J?#&=1&1$%<=;#$D&M5+'($24584E*$'(7(&4K-=2*%6&3Z\[B&))'W )HLD&61J<P12>=#&=1&d%%P$YmmR;%D?Im'y`$l*b& T#I12B&6DB&I&N21I$$1O1%B&@D&Z'(()[D&E5%495)*25%4.'5)+#-715%"&T<1O#$&!;21$B& !2"1O%;O>Y&95-EF-5cc5m9l.-95cB&-!85B&E<01O&a<0>O;%>$D 9>2212>&6<;bB&-D&Z'((*[D&!<%#O#0M>&1O&1?&>P21O=;b>U1Y&=;21JJ;#O1$&P>2>&1?& =1$>22#??#&1O&?>&A#20>J;]O&P2#A1$;#O>?D&L#-+$27)$)*%4Z(1*%-7&$-71$%4 *(4?)+#$#7:(B&*Z'[B&)W''D&61J<P12>=#&=1&d%%P$YmmR;%D?Im'15$H,E& 9#%#& 9d#%%#B& @DB& I& 8;2Jg;OJgWa#?0A1?=B& ED& Z'((^[D& 8;$1+#& P>2>& <O& >P21O=;b>U1& $;"O;A;J>%;C#D& J*5';$4 )*4 2$4 ?)+#$#7:("4 ?)+#$#7:(4 =4 B+2-+'$4*(42$4K5#7*)$)4)*42$4Z(85'9$#7:(6&\ZH[B&)HLW)3\D&61J<P12>=#& =1&d%%P$YmmR;%D?Im'`l8$J"& 8>2#$B&yD&Z'()L[D&N>0;?I&>O=&1=<J>%;#OY&>&C;$;#O&A#2&%d1&A<%<21&A2#0&%d1& P12$P1J%;C1&#A&!?C;O&c#AA?12D&J*%7%43%7#52:&7#$B&)(Z)[B&\QW)((D E<"#&81O;$B&8DB&!?#O$#&e;0iO1bB&8D&I&8;i"<1bB&6D&Z'()L[D&E>&1C>?<>J;]O& P2#A1$;#O>?;b>O%1& =1$=1& $<& J#O$%2<J%#& 1P;$%10#?]";J#D& @+2-7#7*(#7$%B&)*QW'('D

&5O&21A121OJ;>&>&?>&=;C;$;]O&=1&?>$&=;$%;O%>$&%>21>$&=1?&P2#J1$#&=1&P2#=<JJ;]O&1O&?#&V<1&21$P1J%>&>&?>&#2">O;b>J;]O&?>R#2>?B&P2#P<1$%#&P#2&ND&c>I?#2D&N<1&<O&0i%#=#&=1&1$%2<J%<2>&;O=<$%2;>?B&J<I#&A;O&12>& ><01O%>2&?>&P2#=<J%;C;=>=&I&1C;%>2&1?&J#O%2#?&V<1&1?&#R212#&P#=M>&%1O12&1O&?#$&%;10P#$&=1&P2#=<JJ;]OD&71&21?>J;#O>R>&J#O&?>&P2#=<JJ;]O&1O&J>=1O>D

)

&')(;'5(&!+"

-O$%2<JJ;]OY& p,KGLKHJKI& ?#& ?1M=#& $#R21& ?#$& 1$%>=;#$& =1& =1$>22#??#& =1& F;>"1%B&?<1"#&>J<i2=1O$1&=1&?>$&J#O=<J%>$&#R$12C>R?1$&1O&$<$&>?<0O#$& =1& O;C1?& ;O;J;>?& )B& AMU1O$1& J]0#& $1& 1C;=1OJ;>& 1?& =1$>22#??#& =1?& S21>& =1& ?1O"<>U1B& ?<1"#& ;O=;J>2& P#2& V<i& O#& d>I& J#;OJ;=1OJ;>$& >R$#?<%>$& 1O& ?>$& 0;J2#&d>R;?;=>=1$&#2>?1$qD&5?&21J#2=>2B&1$&21%#0>2&<O&J#O$%2<J%#&J#"O;%;C#& J#OJ1P%<>?& $#R21& ?#$& P#$%<?>=#$& =1& F;>"1%& U<O%#& J#O& <O& J#O$%2<J%#& J#"O;%;C#&10PM2;J#D&71&J#0P>2>O&I&J#O%2>$%>OB&d>$%>&??1">2&>&d>J12&<O>& =1A;O;J;]O&I&J#OJ1P%<>?;b>J;]OB&<O&O<1C#&>P21O=;b>U1&Z9>2212>&6<;bB&'((*[D&&

!!


!'

+"+,".2$%-

+%!%4-2)(?3! !"#"$%&'%"()'$#

*"%'+,(-)%).'$

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

68&&(66

)-1-!2/04()6-/0, 40!JK(6-!036/0 $-,!0,6#4(%360,!40!(3<$J,! 40!30<-)(-,!03!$830%! 03!L)#%4-/

&')(;'5(&!+"

5$%1&>2%MJ<?#&=1$J2;R1&<O&P2#I1J%#&=1&;OC1$%;">J;]O&V<1&1_P?#2>&$;&?>&>=#PJ;]O& =1&1$%2>%1";>$&9*-$#5&(7-71$%&1O%21&<O&"2<P#&=1&1$%<=;>O%1$&;O$J2;%#$&1O& %>??121$&1O&?MO1>&=1&O1"#J;#$&1O&;O"?i$B&0>%2;J<?>=#$&1O&<O>&<O;C12$;=>=&1O& 5J<>=#2B&P#=2M>&$12C;2&J#0#&P21=;J%#2&=1&$<&=1$10P1+#&"1O12>?&I&1_;%#$#&=1?& J<2$#D&E>$&J?>$1$B&>=0;O;$%2>=>$&J#0P?1%>01O%1&#O?;O1&<$>O=#&1?&1O%#2O#&=1& >P21O=;b>U1&@##=?1&=1&?>&<O;C12$;=>=&Z5,![B&A<12#O&#A21J;=>$&>&>?<0O#$&V<1& 1$%<=;>R>O&>&%;10P#&P>2J;>?&>&?#&?>2"#&=1&$<$&#J<P>J;#O1$&21"<?>21$D 5?& P2#I1J%#& A<1& P21$1O%>=#& 1O& ?>& 21J;1O%1& J#OA121OJ;>& y#2?=9!EE& $#R21& >P21O=;b>U1& =1& ?1O"<>$& ZO#C;10R21B& '()\[& >$;$%;=#& P#2& J#0P<%>=#2>$B& 21>?;b>=#&1O&?>&4O;C12$;=>=&=1&9#OJ1PJ;]O&1O&9d;?1D&71&R>$]&%>0R;iO&1O& 1?& %2>R>U#& =1& @>2M>& =1?& 9>201O& T#?#+>& =1& ?>& 4O;C12$;=>=& 9>$>& :2>O=1& Z:<>I>V<;?[B&V<;1O&J21]&?#$&1O%#2O#$&C;2%<>?1$&=1&>P21O=;b>U1&I&P2#=<U#&?#$& =>%#$B&V<1&A<12#O&>O>?;b>=#$&J#OU<O%>01O%1&J#O&1?&82D&9d2;$%#Pd12&!??1O&=1& E;OO>1<$&4O;C12$;%I&Z7<1J;>[D&!0R#$&;OC1$%;">=#21$&1$%<C;12#O&P21$1O%1$&1O& ?>&J#OA121OJ;>D

@S$&%>2=1B&1$%1&>OS?;$;$&P2#A<O=;b]&1O&<O&1$%<=;#&V<1&1$P1J;A;J>R>&<O>& $12;1&=1&1$%2>%1";>$&J?>C1&<$>=>$&P#2&>P21O=;J1$&=1&?1O"<>&V<1&d>RM>O& %1O;=#& i_;%#& 1O& 1?& >?J>OJ1& =1& $<$& 01%>$B& J#O=<J;1O=#& >& 0>2J#$& =1& 21A121OJ;>& P2#P<1$%#$& P#2& lt@>??1I& >O=& 9d>0#%& Z)**([& >O=& l_A#2=& Z)**([D& 5O& J#O%2>$%1& >& 1$%#$& 1$%<=;#$& P21C;#$& R>$>=#$& 1O& ;O"?i$& "1O12>?B& 1?& P2#I1J%#& 1O& J<1$%;]O& $1& J1O%2]& 1O& 1?& J#O%1_%#& =1& S21>$& 1$%2>%i";J>$&1$P1JMA;J>$&1O&<$#B&1O&1$%1&J>$#B&1O&J<2$#$&=1&O1"#J;#$&1O& ;O"?i$&%#%>?01O%1&1O&?MO1>B&P>2>&P2#P]$;%#$&1$P1JMA;J#$D 5?& J<2$#& 1O& ?MO1>& $1& R>$]& 1O& =#$& %>??121$& =;2;";=#$& >& 1$%<=;>O%1$& F2#A1$;#O>?;b>O%1$& 1O& ;O"?i$& =1& O1"#J;#$& =1& ?>& 4O;C12$;=>=& 9>$>& :2>O=1D& 5$%#$& J<2$#$& R<$J>2#O& 01U#2>2& ?>$& d>R;?;=>=1$& J#"O;%;C>$& I& >O>?M%;J>$&=1&?#$&F2#A1$;#O>?;b>O%1$&R>$SO=#$1&1O&1?&J>$#&=1&1$%<=;#&=1& <O&P2#R?10>&=1&<O>&J#0P>+M>&?#J>?&I&?>&P21$1O%>J;]O&=1&?>$&P#$;R?1$& $#?<J;#O1$&1O&A#20>%#&1$J2;%#&I&#2>?D

E#$& ;OC1$%;">=#21$& 1?;";12#O& 1OA#J>2$1& 1O& ?>& >=#PJ;]O& =1& J<>%2#& E>&P21$1O%>J;]O&%#0]&J#0#&P<O%#&=1&P>2%;=>&<O>&21C;$;]O&;OC1$%;">%;C>& 1$%2>%1";>$& 1$P1JMA;J>$& 9*-$#5&(7-71$%Y& P?>O1>2& Z0>O1U#& =1& %;10P#B& V<1&J#01Ob]&J#O&?>&;=1O%;A;J>J;]O&=1?&sR<1O&>P21O=;b&=1&?1O"<>t&1O&)*^(D& 1%JD[B&"1$%;#O>2&&1?&>P21O=;b>U1&Z1$%2>%1";>$&9*-$#5&(7-71$%&<$>=>$&1O&


()*+,*,-)./0/BI:/(%%%/':7E

%>21>$&=1&?1J%<2>&I&1$J2;%<2>n&J#221#&1?1J%2]O;J#&I&21P#2%1$&=1&O1"#J;#$B& 1%JD[B&0#O;%#21>2&1?&P2#"21$#&Z1O&%i20;O#$&=1&J#221JJ;]O&"2>0>%;J>?B&<$#& =1&C#J>R<?>2;#&I&01U#2>&1O&?>&1$J2;%<2>&$#R21&O1"#J;#$[&I&A;O>?01O%1B& 1C>?<>2&1?&>P21O=;b>U1&Z21A?1_;#O>2&$#R21&1?&P2#"21$#&1O&21?>J;]O&>&?#$& 21$<?%>=#$&=1&?#$&1_S01O1$&P21C;#$&=1&O;C1?>J;]OB&01%>$&I&#RU1%;C#$& =1?&J<2$#[D& E#$& =>%#$& A<12#O& 21J#";=#$& =1& ?>$& 21$P<1$%>$& =1& <O& J<1$%;#O>2;#& 21?>J;#O>=#&J#O&?>$&J<>%2#&1$%2>%1";>$&9*-$#5&(7-71$%D&E>&<%;?;=>=&A<1& C>?#2>=>&1O&<O>&1$J>?>&=1$=1&<O#&ZO#&0<I&/%;?[&>&$;1%1&Z1_%210>=>01O%1& /%;?[B& 1O& ?>& 1$J>?>& E;g12%D& 5O%21C;$%>$& 1O& P2#A<O=;=>=& A<12#O& %>0R;iO& J#O=<J;=>$&J#O&?#$&1$%<=;>O%1$&F2#A1$;#O>?;b>O%1$&>?&A;O>?&=1?&J<2$#D& !0R#$&J<1$%;#O>2;#$&I&1O%21C;$%>$&A<12#O&1O&1$P>+#?D E#$& 21$<?%>=#$& =1& ?#$& J<1$%;#O>2;#$& $1+>?>2#O& ?>& <%;?;=>=& =1& ?>& ;=1O%;A;J>J;]O& =1& 1$%;?#$& =1& >P21O=;b>U1B& =1& 21J#O#J12& S21>$& =1& 01U#2>0;1O%#B& =1& =1%120;O>2& 01%>$& =1& >P21O=;b>U1& J?>2>$& I& =1& =1$>22#??>2& P2SJ%;J>$& =1& >P21O=;b>U1& ;O=1P1O=;1O%1$& =1& ?>$& =1?& P2#A1$#2D& E#$& =>%#$& 21J#?1J%>=#$& %>0R;iO& 0#$%2>2#O& ?>& ;0P#2%>OJ;>& =1&?>$&1$%2>%1";>$&P>2>&>I<=>2&>&J#0P21O=12&?>&21%2#>?;01O%>J;]O&=1?& =#J1O%1B&?>&J#O$#?;=>J;]O&=1&O<1C>$&d>R;?;=>=1$&I&?>&21A?1_;]O&$#R21&1?& P2#J1$#&=1&>P21O=;b>U1D

+"+,".2$%-

!(

cd;$& >2%;J?1& =1$J2;R1$& >& 21$1>2Jd& P2#U1J%& %d>%& 1_P?#21$& `d1%d12& %d1& >=#P%;#O& #A& 01%>J#"O;%;C1& $%2>%1";1$& >0#O"& >& "2#<P& #A& #O?;O1& R<$;O1$$& 5O"?;$d& $%<=1O%$& 1O2#??1=& >%& >& <O;C12$;%I& ;O& 5J<>=#2& J#<?=& $12C1& >$& P21=;J%#2& ;O& %d1;2& #C12>??& $<JJ1$$A<?& J#0P?1%;#O& #A& %d1& J#<2$1D&cd1&J?>$$1$B&>=0;O;$%121=&`d#??I&#O?;O1&<$;O"&%d1&<O;C12$;%It$& @##=?1&C;2%<>?&?1>2O;O"&1OC;2#O01O%&Zd1OJ1A#2%d&,E5[B&`121&#AA121=& %#&R<$;O1$$&5O"?;$d&$%<=1O%$&%d>%&`121&$%<=I;O"&P>2%W%;01&>?#O"$;=1& %d1;2&21"<?>2&#JJ<P>%;#O$D& cd1&P2#U1J%&`>$&P21$1O%1=&>%&%d1&21J1O%&Z.#C10R12B&'()\[&y#2?=9!EE& J#OA121OJ1& ;O& J#0P<%12W>$$;$%1=& ?>O"<>"1& ?1>2O;O"B& d1?=& >%& 9#OJ1PJ;]O& ;O& 9d;?1D& -%& ;$& >?$#& R>$1=& #O& `#2g& RI& @>2M>& =1?& 9>201O& T#?#+>B&A2#0&9>$1&:2>O=1&4O;C12$;%I&Z:<>I>V<;?[B&`d#&P2#=<J1=&=>%>& >O>?Ib1=& ;O& J#OU<OJ%;#O& `;%d& 82D& 9d2;$%#Pd12& !??1OB& A2#0& E;OO>1<$& 4O;C12$;%I&Z7`1=1O[D&T#%d&21$1>2Jd12$&`121&P21$1O%&>%&%d1&J#OA121OJ1D

E>& A;O>?;b>J;]O& 1_;%#$>& =1?& J<2$#& %>0R;iO& A<1& >$#J;>=>& >& ?>& R<1O>& P?>O;A;J>J;]OB& >?& 0#O;%#21#& I& >& ?>& 1C>?<>J;]O& =1& ?>$& >J%;C;=>=1$& =1& >P21O=;b>U1D& E>$& 21$P<1$%>$& =1& ?>& 1O%21C;$%>& >P<O%>2#O& >& <O>& J#O$;=12>J;]O&"1O12>?01O%1&0<I&A>C#2>R?1&=1&P>2%1&=1&?#$&1$%<=;>O%1$& 1O& J<>O%#& >?& @##=?1B& J#0#& <O& 5O%#2O#& ,;2%<>?& =1& !P21O=;b>U1B& 1O& %i20;O#$& =1& A#01O%>2& 1?& =1$>22#??#& =1& 1$%2>%1";>$& 9*-$#5&(7-71$%"4 ,>2;#$&1OJ<1$%>=#$&=1$%>J>2#O&?>&;0P#2%>OJ;>&=1&?#$&%>??121$&P>2>&1?& 1O%21O>0;1O%#&=1&?#$&1$%<=;>O%1$B&1O&1?&<$#&=1&1$%2>%1";>$&1OA#J>=>$& >&?>&1_;%#$>&J<?0;O>J;]O&=1?&J<2$#D

E#$& ><%#21$& U<O%#& >& 8>C;=& 9>0PR1??B& =1& lR;d;2#& 4O;C12$;%I& #A& !"2;J<?%<21& >O=& ,1%12;O>2I& @1=;J;O1n& 1_P12%#& 1O& @##=?1& I& 1O& %1JO#?#"M>$& =1& ?>& ;OA#20>J;]O& I& J#0<O;J>J;]O&Z-9c&1O&;O"?i$[D

&')(;'5(&!+"

H'0!%4-26(-3!-5! 106%)-<3(6(A0!,6/%60<(0,!%,! 2/04()6-/,!-5!,#))0,,!%1-3<! -3$(30!.#,(30,,!L3<$(,'! ,6#4036,!(3!L)#%4-/:


'#

+"+,".2$%-

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

cd1& #O?;O1& J#<2$1& `>$& R>$1=& >2#<O=& %`#& `#2g$d#P$& >;01=& >%& %d1& 3'58*%75($27I$(-*%&R<$;O1$$&5O"?;$d&$%<=1O%$D&cd1$1&`#2g$d#P$&$#<"d%& %#&;0P2#C1&%d1&3'58*%75($27I$(-*%i&J#"O;%;C1&>O=&>O>?I%;J>?&$g;??$&R>$1=& #O&>&J>$1&$%<=I&#A&>&P2#R?10&>%&>&?#J>?&J#0P>OI&>O=&%d1&P21$1O%>%;#O& #A&%d1&P#$$;R?1&$#?<%;#O$&;O&`2;%%1O&>O=&#2>?&A#20$D& cd1& 21$1>2Jd12$& Jd#$1& %#& A#J<$& #O& %d1& >=#P%;#O& #A& A#<2& $P1J;A;J& 01%>J#"O;%;C1&$%2>%1";1$Y&P?>OO;O"&Z%;01&0>O>"101O%B&1%JD[B&0>O>";O"& ?1>2O;O"& Z01%>J#"O;%;C1& $%2>%1";1$& <$1=& ;O& 21>=;O"& >$$;"O01O%$& >O=& `2;%;O"n& 10>;?& >O=& R<$;O1$$& 21P#2%$B& 1%JD[B& 0#O;%#2;O"& P2#"21$$& Z;O& %120$&#A&"2>00>%;J>?&>JJ<2>JIB&C#J>R<?>2I&<$>"1&>O=&R<$;O1$$&`2;%;O"& ;0P2#C101O%[&>O=&A;O>??IB&1C>?<>%;O"&?1>2O;O"&Z21A?1J%;O"&#O&P2#"21$$& ;O&21?>%;#O&%#&P21WJ#<2$1&P?>J101O%&%1$%$B&J#<2$1&>;0$&>O=&#RU1J%;C1$[D&

&')(;'5(&!+"

8>%>&`>$&J#??1J%1=&A2#0&21$P#O$1$&%#&>&V<1$%;#OO>;21&21?>%;O"&%#&%d1& A#<2&01%>J#"O;%;C1&$%2>%1";1$D&4$1A<?O1$$&`>$&2>%1=&#O&>&$J>?1&A2#0&)& ZO#%&<$1A<?[&%#&^&Z1_%2101?I&<$1A<?[&#O&>&E;g12%&$J>?1D&-OW=1P%d&;O%12C;1`$& `121&>?$#&J#O=<J%1=&`;%d&%d1&3'58*%75($27I$(-*%&$%<=1O%$&>%&%d1&1O=&#A& %d1&J#<2$1D&T#%d&V<1$%;#OO>;21$&>O=&;O%12C;1`$&`121&;O&7P>O;$dD & cd1& 21$<?%$& A2#0& %d1& V<1$%;#OO>;21$& P#;O%1=& %#& %d1& <$1A<?O1$$& ;O& ;=1O%;AI;O"&?1>2O;O"&$%I?1$B&;O&21J#"O;b;O"&>21>$&A#2&;0P2#C101O%B&;O& =1%120;O;O"&J?1>2&?1>2O;O"&"#>?$&>O=&;O&=1C1?#P;O"&?1>2O;O"&P2>J%;J1$&

;O=1P1O=1O%&#A&%d1&%1>Jd12D&cd1&=>%>&J#??1J%1=&>?$#&$d#`1=&%d1&;0P#2%>OJ1& #A&$%2>%1";1$&;O&d1?P;O"&`;%d&%d1&<O=12$%>O=;O"&#A&%1>Jd12&A11=R>JgB&%d1& J#O$#?;=>%;#O&#A&O1`&$g;??$&>O=&21A?1J%;#O&#O&%d1&?1>2O;O"&P2#J1$$D& 7<JJ1$$A<?& J#<2$1& J#0P?1%;#O& `>$& >?$#& ?;Og1=& %#& $%2#O"& P?>OO;O"B& 0#O;%#2;O"& >O=& 1C>?<>%;O"& ?1>2O;O"& >J%;C;%;1$D& -O%12C;1`& 21$P#O$1$& P#;O%1=&%#&>&"1O12>??I&C12I&A>C#2>R?1&J#O$;=12>%;#O&A2#0&%d1&$%<=1O%$& 21">2=;O"&@##=?1B&>$&>&,E5&)&B&;O&%120$&#A&1OJ#<2>";O"&%d1&=1C1?#P01O%& #A& 01%>J#"O;%;C1& $%2>%1";1$D& !& O<0R12& #A& 21$P#O=1O%$& $P1J;A;1=& %d1& C>?<1&#A&`#2g$d#P$&;O&%2>;O;O"&$%<=1O%$&;O&%d1&<$1&#A&$%2>%1";1$&?1>=;O"& %#&$<JJ1$$A<?&J#0P?1%;#O&#A&%d1&J#<2$1D&

&,;2%<>?&E1>2O;O"&5OC;2#01O%D&5O%#2O#&C;2%<>?&=1&>P21O=;b>U1B&1O&1$P>+#?D

)

WY/#42.+:CO)4/B--)*

WY/G,4K,/5)-/#,4R)*/W:-:I,

@D!D& >O=& FdD8D& ;O& !PP?;1=& 5O"?;$d& E;O"<;$%;J$D&71O;#2&E1J%<212&;O&5Ec&ZE;OO>1<$& 4O;C12$;%IB&7`1=1O[D&'L&I1>2$&#A&1_P12;1OJ1& ;O& %1>Jd;O"& 5Ec& >O=& d>$& `#2g1=& `;%d& %1>Jd12&%2>;O;O"&;O&>&O<0R12&#A&J#<O%2;1$D

@>$%12& ;O& 5O"?;$d& >$& >& N#21;"O& E>O"<>"1& Z57FlE[D& ,;2%<>?& c1>Jd;O"& 7P1J;>?;$%& Z,;2%<>?& 5=<J>B&!2"1O%;O>[D&c1>Jd12&;O&49:&A#2&O;O1&I1>2$B& 61$1>2Jd12& >O=& c5NE& c2>;O12D& a>$& `#2g1=& `;%d& 9>0R2;="1&4O;C12$;%I&;O&57lE&5_>0$&5C>?<>%;#OD& c2>;O1=&RI&%d1&T2;%;$d&9#<OJ;?D

"*+4)9,5:;/><=>E=<>7@/A/BC4:D,5:;/<P=>J=<>7@/0/F:+:;/S:4+).K,/5)/G,4K,/5)-/#,4R)*/W:-:I,/0/%-N.+4,S2T*;/F4))C2k

cd1&P21$1O%>%;#O&%##g&>$&;%$&P#;O%&#A&=1P>2%<21&>&21C;1`&#A&21$1>2Jd& R1";OO;O"&`;%d&%d1&;=1O%;A;J>%;#O&#A&%d1&s"##=&?>O"<>"1&?1>2O12t&;O&%d1& )*^($D& cd;$& 21$1>2Jd& ?>%12& $P>`O1=& `#2g& `d;Jd& $P1J;A;1=& >& O<0R12& #A& g1I& $%2>%1";1$& <$1=& RI& $<JJ1$$A<?& ?>O"<>"1& ?1>2O12$& ;O& >Jd;1C;O"& %d1;2&"#>?$B&?1>=;O"&%#&A2>01`#2g$&P2#P#$1=&RI&lt@>??1I&>O=&9d>0#%& Z)**([&>O=&l_A#2=&Z)**([D&-O&J#O%2>$%&%#&%d1$1&P21C;#<$&$%<=;1$&R>$1=& #O&"1O12>?&5O"?;$dB&%d1&P2#U1J%&;O&V<1$%;#O&d121&A#J<$1=&#O&J#O%1_%W $P1J;A;J&>21>$&#A&$%2>%1"I&;O&<$1B&;O&%d;$&J>$1&#O&`d#??I&#O?;O1&T<$;O1$$& 5O"?;$d&57F&J#<2$1$&;OC#?C;O"D&


+"+,".2$%-

()*+,*,-)./0/BI:/(%%%/':7E

'"

'3L9=?5)54A<? ?9)GH5)695=6=L7649?5)?FL7H=6JH5

5?&>J#$#&1O&;O$%;%<J;#O1$&1=<J>%;C>$&1$&<O&$MO%#0>&V<1&$;10P21&1_;$%;]B& $;O& 10R>2"#B&1O&?>&>J%<>?;=>=&$1&1OJ<1O%2>&R>$%>O%1& "1O12>?;b>=#& I& %;1O1&0/?%;P?1$&>2;$%>$D&-0P?;J>&A#20>$&=1&>"21$;]O&I&C;#?1OJ;>&1O%21& 1$%<=;>O%1$B&>$M&J#0#&1O%21&%#=#$&?#$&>J%#21$&=1&?>&1=<J>J;]OD& 9#O%2;R<I1O&>&?>&J#O%;O<;=>=&=1&1$%>&$;%<>J;]O&1?&J?;1O%1?;$0#&P#?M%;J#B& ?>&O1"?;"1OJ;>&R<2#J2S%;J>&I&?#$&1_J1$#$&1$%>=M$%;J#$&I&21"?>01O%>2;#$& =1& J#O%2#?D& 81$=1& ?#$& d#0MO;=#$& O#& d10#$& P2#"21$>=#& 0<Jd#D& !& J#O%;O<>J;]OB&$1&P21$1O%>O&>?"<O>$&O#%>$&>?&21$P1J%#Y

&')(;'5(&!+"

)D& E>&>"21$;]O&I&C;#?1OJ;>&$;10P21&d>O&1$%>=#&C;OJ<?>=>$&>&?>&J<?%<2>& =1&<O>&iP#J>D&F12#&1O&?>&>J%<>?&d;P120#=12O;=>=B&;22<0P1&J#0#& <O&$;O&$1O%;=#D&.#&$1&%#?12>&=1?&#%2#&$<&0#=#&=1&"#J1&Z$>%;$A>JJ;]O[& 1O&?>&C;=>B&V<1&1O&21>?;=>=&;0P?;J>&1?&21Jd>b#&>&>R#2=>2&?#&1_%2>+#& =1&$M&0;$0#&I&>%2;R<;2?#&>&?#$&#%2#$D

'D& E>&1=<J>J;]O&1O&R>$1&>&J#O#J;0;1O%#$&$1&d>&=1C>?<>=#D&7<A;J;1O%1& J#O&:##"?1D&a#I&1?&P2#P]$;%#&J;C;?;b>=#2&=1&?>&1=<J>J;]O&1$&>I<=>2& >&V<1&1?&$<U1%#&$1&21$P#O$>R;?;J1&=1&J#O$%2<;2&$<$&CMOJ<?#$&$#J;>?1$& I&>&$>R12&d>J12&J#O&1?&=1$J#OJ;12%#&>J%<>?D&7#?#&d>$%>&J;12%#&P<O%#& ?>& 1=<J>J;]O& P<1=1& $12& ?/=;J>01O%1& =;C12%;=>B& I>& V<1& 21V<;121& $;10P21B&J#O&R>$1&1O&1?&$>R12B&<O&1$A<12b#&P>2>&J#O$%2<;2&<O&?>b#& $#J;>?&=#O=1&O#&d>IB&I&J#O&1?&J<>?&#R%1O12&P?>J12D HD& F>2%1&=1?&J<>=2#&$#O&?#$&J>$#$&$<R;=#$&1O&%;10P#&21>?&>&?>$&21=1$& $#J;>?1$Y&1$&%#=>&<O>&%2>0>&=1&1$P1J%SJ<?#&=1&%122#2&P>2>&1?&"#J1& P12C12$#&=1&?>&0;2>=>D 3D& 5O& ?>& P2SJ%;J>B& ?#$& C>?#21$& <O;C12$>?1$& $1& d>O& =1%12;#2>=#& I& 1?& U#C1O&R<$J>&;=1O%;A;J>J;#O1$&O<1C>$B&J#OA#20>O=#&"2<P#$&$#R21&?>&


LD&

QD&

^D&

&')(;'5(&!+"

\D&

*D&

+"+,".2$%R>$1&=1&1_J?<;2&>&?#$&#%2#$D&5?&V<1&O#&?#&d>J1&1$&<O&s2>2#tB&<O&#RU1%#&=1& >"21$;]OD&F>2>?1?>01O%1B&?>&d#0#"1O;b>J;]O&A<12b>&>&?#$&1=<J>=#21$&>& 1%;V<1%>2?#$&J#0#&p=1A;J;%>2;#$qB&?#&J<>?&10P1#2>&?>$&J#O=;J;#O1$D E>&"1O12>?;b>J;]O&=1&?>&=1J>=1OJ;>&0#2>?&1O&1?&J>0P#&=1?&P#=12& P#?M%;J#& I& 10P21$>2;>?B& ?#& J<>?& >01O>b>& 1?& 5$%>=#& =1& =121Jd#& =10#J2S%;J#B&%>0R;iO&;OJ;=1&1O&P2#C#J>2&?>&C;#?1OJ;>&10P<U>O=#& >?& =1$1O">+#B& ?>& 122>OJ;>& I& ?>& =1$<R;J>J;]O& 1O& ?>$& J#0<O;=>=1$& 1=<J>%;C>$D&5$&<O&%1221O#&>"21$%1B&P2#J?;C1&>?&21;O>=#&=1?&$<P12I]& Z>V<1??>&?1I&>R$#?<%>&;O$J2;%>&1O&1?&;OJ#O$J;1O%1[&V<1&#2=1O>&"#b>2& $;O&?M0;%1$D E>&$#?>&U<=;J;>?;b>J;]O&I&C;";?>OJ;>&P#?;J;>?&>O%1&1?&>J#$#&1$&=1&<O>& J1"<12>&$<P12I#;J>D&E>&21=<JJ;]O&>&?>&?]";J>&P2;0>2;>&=1&>J#$>=#2W CMJ%;0>& 1$& ;OV<;1%>O%1& I& $#?#& >%;b>& 0S$& 1?& A<1"#D& .#& $#?#& 1_;$%1& ?>& C12=>=& #RU1%;C>& U<=;J;>?& $;O#& ?>$& C12=>=1$& $<RU1%;C>$& =1& ?#$& ;OC#?<J2>=#$B& ?>$& J<>?1$& P<1=1O& $12& 1$J<Jd>=>$& =1& #%2>& 0>O12>B& R#2=1>O=#&?#&%2><0S%;J#&1O&1?&>"21=;=#&I&?>&P<?$;]O&=1&0<12%1&=1?& >"21$#2D&v.#&P#=2S&?>&21$P#O$>R;?;=>=&1O%2>2&1O&?>&1$J1O>&P#2&1$%>& /?%;0>&CM>&=#O=1&O#&d>I&O>=;1&;O;0P<%>R?1w E#$&>J#$>=#21$&0>O;A;1$%>O&$<&#=;#&>O%1&?>$&P1V<1+>$&=;A121OJ;>$& 1O&1?&#2=1O&;0>";O>2;#B&;0P#O;iO=#$1&?>&P12C12$;]O&$S=;J>D&5??#$& O#&d>O&?#"2>=#&<O&$>R12&$<RU1%;C#&P>2>&$#P#2%>2&?>$&=;A121OJ;>$D& 5?& >J#$>=#& $<A21& =1& >O"<$%;>B& =1$>$#$;1"#& #& 1U12J1& ?>& C1O">Ob>& I& %120;O>& P12=;1O=#& 1?& ;O%12i$& =1& >P21O=12D& 71& P21J>2;b>& 1?& >O<=>0;1O%#&1O%21&?#&;0>";O>2;#B&?#&$;0R]?;J#&I&1?&;O1C;%>R?1&21>?& =1&?>&A>?%>&V<1&d>I&1O&1?&CMOJ<?#&$#J;>?D&E>&;O=;A121OJ;>&O#&?#"2>& d<;2B&1$&J]0P?;J1D& E>& >"21$;C;=>=& 1$& P>2%1& =1& ?>& J#O$%;%<J;]O& $<RU1%;C>& =1?& $12& d>R?>O%1& =1$=1& %10P2>O>& 1=>=B& J<>O=#& 1?& ;OA>O%1& 21$P#O=1& =1$=1&$<&A2>"01O%>J;]O&J#2P#2>?&>O%1&?>&;0>"1O&<O;A;J>=>&=1&?#$& 0>I#21$B&I&>?&;=1O%;A;J>2&?>&;0>"1O&=1&$<&J<12P#&1O&1?&1$P1U#B&J#0#& $;&A<12>&#%2>&P12$#O>&V<1&$<P<1$%>01O%1&#J<P>&$<&?<">2&Zp1?&I#&1$& #%2#q[D&5$%>$&P2;012>$&;=1O%;A;J>J;#O1$&O#&$1&P<1=1O&$1P>2>2&=1&?>& >"21$;C;=>=D&9#O&?>&P>?>R2>&=1&?#$&#%2#$&$1&;O%2#=<J1&?>&O#0;O>J;]O& =1&?#&$;0R]?;J#B&?#&J<>?&P120;%1&>?&O;+#&21J#O#J12&V<1&1$&$<&P2#P;>& ;0>"1O& J#2P#2>?& ?>& =1?& 1$P1U#& I& <O;A;J>2?>D& 9#0#& 1?& ?1O"<>U1& O#& J<R21&%#=#B&V<1=>2S&<O&21$%#&=1&>"21$;C;=>=&P120>O1O%1B&J#O&?#& J<>?&d>I&V<1&$>R12$1&0>O1U>2&P>2>&V<1&O#&$1>&;OC>$;C>D 5?&;=1>?&=1?&I#B&=1R;?;%>=#&P#2&?>&=1J?;O>J;]O&=1&?>&><%#2;=>=&P>%12O>& kI&$<$&$<$%;%<%#$k&=12;C>&>&?>&$>%;$A>JJ;]O&O>2J;$;$%>&=1?&$<U1%#B& >J21J;1O%>&$<&P>2>O#;>&I&1_J?<I1&>&?#$&#%2#$D&7;&d>I&<O&J><=;??#B& 1OJ>2O>& 1O& i?& $<$& ;=1O%;A;J>J;#O1$B& 1?& J<>?B& >& $<& C1bB& "#b>& =1?& $#01%;0;1O%#&=1&$<$&$1"<;=#21$B&O#&P>2>&1$%>R?1J12&<O&?>b#&$#J;>?& $;O#&P>2>&=1"2>=>2?#D&

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

)(D& 5O& ?>& 0;$0>& =;21JJ;]OB& ?>& A<OJ;]O& J?S$;J>& =1& ><%#2;=>=& $1& ?;J/>D& @S$& R;1OB& ?>& $+-5#'7-$%& =10#J2S%;J>& P2#=<J1& 1?& 1A1J%#& =1& <O& CMOJ<?#&$#J;>?&1O&1?&%;10P#B&I&1$&21J#O#J;=>&J<>O=#&O#&$1&P21$1O%>& J#0#& %#%>?B& $;O& A>??>& I& $>R;1O=#& d>J12& J#O& 1$>$& ?;0;%>J;#O1$D& E>& ><%#2;=>=& =1?& =#J1O%1& P<1=1& >P<O%>2& >& %2>O$0;%;2& >?& 1$%<=;>O%1& V<1&;OC1O%1&$<&0>O12>&=1&=#01$%;J>2&$<&"#J1&1_J1$;C#B&<$>O=#&1?& $>R12&J>0R;>O%1&=1&?>&J<?%<2>D ))D& E>& C;#?1OJ;>B& 1?& P>$>U1& >?& >J%#& =1& ?>& >"21$;]OB& 1$%S& =1?& ?>=#& =1& ?#& 21>?& O#& $;0R#?;b>=#D& F#2& ?#& =10S$B& ?#& $;0R]?;J#B& 1?& ?1O"<>U1B& %;1O1&$<&=;01O$;]O&C;#?1O%>B&1O&%>O%#&V<1&>?&>A1J%>2&1?&J<12P#&?#& 0#2%;A;J>&I&P>2>$;%>&Z<O>&P>?>R2>&1$&?>&0<12%1&=1&?>&J#$>[B&><OV<1B& P>2>=]U;J>01O%1B&%>0R;iO&P#$;R;?;%>&?>&C;OJ<?>J;]O&J#O&?#$&#%2#$D& )'D&F120;%;2&1?&>J#$#&1O&1?&S0R;%#&1=<J>%;C#&1$&>R>O=#O>2&?>&A<OJ;]O& P>%12O>& V<1& P#O1& ?M0;%1$& >& ?>$& P<?$;#O1$B& 0>O%1O;iO=#$1& ?>& pP12C12$;=>=& P#?;A#201q& ZN21<=[& =1?& O;+#D& v.#& 1$& %>21>& =1& ?#$& 1=<J>=#21$&1O$1+>2&>?&;OA>O%1&I&>?&P/R12&V<1&=1U1O&=1&$12?#w )HD&e>JV<1$& E>J>O& P2#P#OM>& ?>& $>?;=>& =1& <O>& sA2>%12O;=>=& =;$J21%>t& P>2>& ?>& J#OC;C1OJ;>& $#P#2%>R?1D& E>& J#OC12$>J;]O& A21J<1O%1& 1O%21& =#J1O%1$&$#R21&$<$&1_P12;1OJ;>$&P1=>"]";J>$&>I<=>2M>&>&A#20>?;b>2& ?#$&;0P>$1$&V<1&$1&P2#=<J1O&1O&1?&>J%#&1=<J>%;C#B&I&>&$<&C1bB&P#2& V<i& O#B& ?>& 1_%1O$;]O& =1& ?>& J#OC12$>J;]O& Z*^#+'';#+2+9[& J#O& ?#$& 1=<J>O=#$B& 1O& 1$P>J;#$& $)4,5#`& $#R21& ?#$& %10>$& V<1& >& 1??#$& ?1$& ;O%121$1&d>R?>2D DQWOQ49H8UX8 B5()+#-$%4)*4'7*%&54*(4*24<9>7-54*%#52$'"& Z'()H[D& @1=1??MOB& 9#?#0R;>Y& .<1C>&5$J<1?>&E>J>O;>O>&=1&@1=1??MOD :>??#B&aD&Z)***[D&W%5%4=4$>+%5%4)*249$2-'$-5/4+($4.*'%.*#-71$4.%7#5$($2;-7#$D& @1=1??MOB&9#?#0R;>Y&5=;%#2;>?&4O;C12$;%>2;>&=1&!O%;#V<;> :#?=1OR12"B&@D&Z9#0P;?>=#2[D&Z'())[D&T752*(#7$4*(42$%4*%#+*2$%"4T<1O#$& !;21$B&!2"1O%;O>Y&:2>0>&5=;J;#O1$D &)

&E#J<J;]O&?>%;O>&V<1&$;"O;A;J>&pP>2>&1$%#qD

$:4/MN,*/Q)/B-+O,N./6N,45)4,.

"*+4)9,5:;/7U=>?=<>7@/A/BC4:D,5:;/7@=>?=<>7@/0/%-N.+4,S2T*;/F4))C2k

')


ESTUDIO

U8


'$

$/2*!".

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

$ 0 # ! # . < = > ?

Disciplina y cohesión partidaria: evolución del

"*/)-/<>7UZ/N*/94NC:/5)/,-NR*,./5)/#2)*S2,./ $:-K+2S,./Y/!)-,S2:*)./%*+)4*,S2:*,-)./ 5).,44:--T/N*/C4:Y)S+:/5)/2*3).+29,S2T*/ TXH H[DPLQy OD XQLGDG SDUWLGDULD GH ODV ,94NC,S2:*)./C:-K+2S,./)\)S+23,./)*/C4:R)52:Z/ 32*SN-,5,./,/-,./S:O:4+)./-)92.-,+23,./)*/ ).+N52:/`<>>@=<>78Z/<>78=<>7P/Y/<>7P=<>7UaZ/ LGHQWL½FDQGR HO FDPELR GHO FRPSRUWDPLHQWR -)92.-,+23:/5N4,*+)/Y/5).CN[./5)/-,/ C4).25)*S2,/5)/!,\,)-/#:44),H

15035(,'

comportamiento legislativo ecuatoriano en el gobierno de Alianza PAIS, 2009–2018

E>& J#d1$;]O& I& ?>& =;$J;P?;O>& d>O& $;=#& %i20;O#$& <%;?;b>=#$& 1O& 1$%<=;#$& ?1";$?>%;C#$D& E>& J#d1$;]O& $1& C;OJ<?>& >?& J#OU<O%#& =1& C>?#21$B&;=1>$&I&J#O=<J%>$&J#0P>2%;=>$&P#2&<O&P>2%;=#B&?>$&J<>?1$& ?#"2>O& C#%>J;#O1$& <O;A;J>=>$& Za>b>OB& '((H[n& 0;1O%2>$& V<1B& ?>& =;$J;P?;O>&1$&<O&0i%#=#&J#12J;%;C#&1O&1?&V<1&1?&?M=12&=1?&P>2%;=#& P21$;#O>&>&$<&R?#V<1&P>2>&V<1&$1&>?;O11O&>&<O&P>%2]O&=1&C#%>J;]O& Z@#2"1O$%12OB&'((3[D

5?& 1$%<=;#& >=#P%>& ?>& 01%#=#?#"M>& =1& 9>21I& Z'((([B& V<1& 21J#O#J1& >& ?>& =;$J;P?;O>& I& J#d1$;]O& J#0#& <O& $#?#& A>J%#2D& 71& <%;?;b>2#O& =>%#$& =1& )3((& C#%>J;#O1$& 1O& $>?>B& 21P>2%;=>$& 1O& ?#$& P12;#=#$& 01OJ;#O>=#$& I& >O>?;b>=>$&=1&A#20>&J<>O%;%>%;C>&>&%2>Ci$&=1&=#$&MO=;J1$&=1&01=;J;]O& P21C;>01O%1&>P2#R>=#$&P#2&?>&?;%12>%<2>Y&6-95&Z)*'L[B&V<1&J#O%>R;?;b>& $#?#& ?#$& C#%#$& >& A>C#2& I& 1O& J#O%2>n& I& 4.-cj& Z'((^[B& V<1& J#O$;=12>& >=10S$&?>$&><$1OJ;>$&I&>R$%1OJ;#O1$D

E>$&;OC1$%;">J;#O1$&$#R21&P#?M%;J>&?1";$?>%;C>&$#O&21J;1O%1$&I&>/O& 1$J>$>$& 1O& !0i2;J>& E>%;O>D& E>& ?;%12>%<2>& d>& P21$%>=#& 1$P1J;>?& >%1OJ;]O&>&J>$#$&J#0#&!2"1O%;O>B&T2>$;?&I&@i_;J#&Z@#2"1O$%12O& I& .>J;AB& '(('[B& =1$J<;=>O=#& P>M$1$& J#0#& 5J<>=#2B& .;J>2>"<>& #& F>2>"<>I&Z!?10SOB&'()H[D&5O&J;12%#&0#=#B&1$%#&$1&d>&U<$%;A;J>=#& P#2& ?>$& J>2>J%12M$%;J>$& ;O$%;%<J;#O>?1$& =1?& P2;012& J#OU<O%#& =1& P>M$1$D& .#& #R$%>O%1B& 5J<>=#2& 1$& <O& J>$#& ;?<$%2>%;C#B& $#R21& %#=#& P#2& $<& =1$>22#??#& P#?M%;J#& I& $<$& 1?101O%#$& ;O$%;%<J;#O>?1$B& 1$P1JMA;J>01O%1& $<& d;P12>J%;C;=>=& 1O& 0>%12;>& =1& 21A#20>$& 1?1J%#2>?1$&ZN21;=1OR12"&I&8#Ö1gB&'()Q[D&

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

'$#+-'

0+N+-#!

-!"$1#'%+"

#-'K'Q+ 0+R;1!#+

81&?#$&)'3&>$>0R?1M$%>$B&L*&P12%1O1JM>O&>&@F!-7n&I&QL&=1&#P#$;J;]O& 1&;O=1P1O=;1O%1$D C$-$%,$4j2$1$4L'-*$&$ E;J1OJ;>=>&1O&9;1OJ;>$& F#?M%;J>$&I&61?>J;#O1$& -O%12O>J;#O>?1$& =1&?>&4O;C12$;=>=& 9>$>&:2>O=1&Z49:[D

9#d#2%1&?1";$?>%;C> '((*W'()H

9#O& (BQ^& 1O& 6-95& I& (B\H& 1O& 4.-cjB& 1?& P>2%;=#& 0S$& <O;A;J>=#& A<1& @#C;0;1O%#& F>%2;>& !?%;C>& -& 7#R12>O>& Z@F!-7[D& !$;0;$0#B& >0R#$& MO=;J1$& J#;OJ;=1O& V<1& 1?& F>2%;=#& 61O#C>=#2& -O$%;%<J;#O>?& =1& !JJ;]O& .>J;#O>?& ZF6-!.[& A<1& <O#& =1& ?#$& 0S$& A2>"01O%>=#$& ;O%12O>01O%1D& !& $<&C1bB&$1&J#0P2#R]&V<1&?#$&?1";$?>=#21$&#A;J;>?;$%>$&=10#$%2>R>O&<O>& J#O$#?;=>=>&<O;=>=&1O&?>$&C#%>J;#O1$&A21O%1&>&?#$&=1&#P#$;J;]OB&?#&V<1& O#& $#2P21O=1& $;& $1& <R;J>& >& 5J<>=#2& J#0#& <O& J>$#& 10R?10S%;J#& =1& 1U1J<%;C#&=#0;O>O%1&I&?1";$?>%<2>&#R1=;1O%1B&=1$=1&'((^&>&'()^&Z9#_& I&@#2"1O$%12OB&'(('[D

d%%P$YmmR;%D?Im',r<!xR


$/2*!".

()*+,*,-)./0/BI:/(%%%/':7E

0+N+-#!

&

'$#+-'

9#d#2%1&?1";$?>%;C> '()HW'()^

@F!-7kJ#O&(B\*&1O&4.-cj&I&(B^'&1O&6-95kP21$1O%]&0>I#2&<O;=>=B&>& =;A121OJ;>&=1&?>&#P#$;J;]OD&5?&R?#V<1&J#O&01O#2&<O;=>=&A<1&1?&P>2%;=#& 921>O=#&lP#2%<O;=>=1$&Z965l[B&J#O&(BL'&1O&4.-cj&I&(BH'&1O&6-95D&5$%#& =10<1$%2>& V<1& 1?& #A;J;>?;$0#& J#O%;O<]& 0S$& <O;=#& V<1& ?>& #P#$;J;]O& 1O& 1$>& J#d#2%1B& I& #%#2">& <O& 0>I#2& 21$P>?=#& 10PM2;J#& >& ?>& 21?>J;]O& =1$R>?>OJ1>=>&1O%21&1?&5U1J<%;C#&I&1?&E1";$?>%;C#B&1O%21&'((^&I&'()^D

0+N+-#!

-!"$1#'%+"

d%%P$YmmR;%D?Im'a.0xV2

#-'K'Q+ 0+R;1!#+

9#d#2%1&?1";$?>%;C> '()\

5O& 21?>J;]O& >& ?>& J#d#2%1& ?1";$?>%;C>& '()^W'(')B& $1& 1$%<=;]& /O;J>01O%1& d>$%>&1?&'()\B&=>=>&?>&=;$P#O;R;?;=>=&=1&;OA#20>J;]O&P#2&>+#$&J<?0;O>=#$D& 5?&O/012#&%#%>?&=1&1$J>+#$&J#O$1"<;=#$&P#2&@F!-7&$1&=;C;=;]&1O%21&?#$& $1"<;=#21$&=1&9#221>&I&@#21O#B&P21$1O%SO=#$1&P2#R?10>$&1O&$<&<O;=>=& P>2%;=>2;>&>?&;O%12;#2&=1&?>&?1";$?>%<2>D&81&$12&1?&R?#V<1&J#O&0>I#2&<O;=>=B& @F!-7&J>I]&>&?#$&/?%;0#$&1$?>R#O1$B&#R%1O;1O=#&<O&(BL*&1O&6-95&I&(B\(&1O& 4.-cjB&P#2&=1R>U#&=1?&F>2%;=#&7#J;1=>=&F>%2;]%;J>&ZF7F[&I&=1?&@#C;0;1O%#& 7#J;1=>=&4O;=>&@S$&!JJ;]O&Z74@![D

BLX8:%JK%RH4TKG;4 }& 71R>$%;SO&40P;1221b&=1&61"<12# }& 9>2#?&e>2>W!?R> }& E1%;J;>&l2Ji$&F>21U>

15035(,'

81&?#$&)H^&>$>0R?1M$%>$B&^3&=1&?#$&1$J>+#$B&1O&P2;OJ;P;#B&P12%1O1JM>O&>& @F!-7n&I&QH&>&?>&#P#$;J;]O&1&;O=1P1O=;1O%1$D

C$-,$2=4@*'$4N;$I E;J1OJ;>=>&1O& 9;1OJ;>$&F#?M%;J>$&I& 61?>J;#O1$&-O%12O>J;#O>?1$& =1&?>&49:D

#-'K'Q+ 0+R;1!#+

81&?#$&)H^&>$>0R?1M$%>$B&)((&P12%1O1JM>O&>&@F!-7n&I&H^&>&?>&#P#$;J;]O& 1&;O=1P1O=;1O%1$D

C7#52*4j21$'*I4T*27I E;J1OJ;>=>&1O&9;1OJ;>$& F#?M%;J>$&I&61?>J;#O1$& -O%12O>J;#O>?1$& J#O&01OJ;]O 1O&9#0<O;J>J;]O&& &F#?M%;J>&=1&?>&49:D

-!"$1#'%+"

d%%P$YmmR;%D?ImH(!KVx)

Z5=$D[B& E*&7%2$-71*4 3527-7#%4 7(4 E$-7(4 L9*'7#$& ZPPD& 33QW3Q\[D& .<1C>& j#2gY&9>0R2;="1&4O;C12$;%I&F21$$D

,KUKHKIGQ8:

N21;=1OR12"B&ND&I&8#Ö1gB&cD&Z'()Q[D&E>$&21A#20>$&1?1J%#2>?1$&1O&!0i2;J>& E>%;O>D&5O&KD&9>$>$Wr>0#2>B&@D&,;=><22;B&TD&@<+#b&F#"#$$;>O&I&6D& 9d>O%#& Z5=$D[B& A*85'9$%4 .52;-7#$%4 *(4 L9G'7#$4 E$-7($"4 J*()*(#7$%4 =4 #$%5%& ZPPD& 'LÑ*'[D& y>$d;O"%#O& 8D9DY& 71J21%>2M>& :1O12>?& =1& ?>& l2">O;b>J;]O&=1&?#$&5$%>=#$&!012;J>O#$D

!?10SOB&5D&Z'()H[D&E>%;O&!012;J>&?1";$?>%;C1&P#?;%;J$Y&>&$<2C1I&#A&P112W 21C;1`1=&P<R?;J>%;#O$&;O&5O"?;$dD&M5+'($245843527-7#%47(4E$-7(4L9*'7#$D& LZ)[D&)LÑHQD

a>b>OB&6D&jD&Z'((H[D&8#1$&J#d1$;#O&1V<>?&=;$J;P?;O1w&c#`>2=$&>&J#OJ1P%<>?& =1?;O1>%;#OD& J,*4M5+'($24584E*&7%2$-71*4K-+)7*%6& *Z3[B& )Ñ))D& d%%P$Ymm =#;D#2"m)(D)(\(m)HL^'HH(3'(((H(Q''^

9>21IB& eD& Z71P%;10R21B& '((([D& 3$'-=4 +(7-=4 7(4 2*&7%2$-71*4 15-7(&"& c2>R>U#& P21$1O%>=#&1O&?>&J#OA121OJ;>&!012;J>O&F#?;%;J>?&7J;1OJ1&!$$#J;>%;#OB& 1O&y>$d;O"%#O&8D&9DB&5$%>=#$&4O;=#$D

@#2"1O$%12OB&7D&Z'((3[D&3$--*'(%45842*&7%2$-71*4.527-7#%/4A522e#$224T5-7(&47(4 E$-7(4L9*'7#$4$()4-,*4W(7-*)4K-$-*%D&.<1C>&j#2gB&5$%>=#$&4O;=#$Y& 9>0R2;="1&4O;C12$;%I&F21$$D

9#_B& :D& I& @#2"1O$%12OB& 7D& Z'(('[D& 5P;?#"<1Y& E>%;O& !012;J>Ü$& 61>J%;C1& !$$10R?;1$&>O=&F2#>J%;C1&F21$;=1O%$D&5O&7D&@#2"1O$%12O&I&TD&.>J;A&

@#2"1O$%12OB&7D&I&.>J;AB&TD&Z'(('[D&E*&7%2$-71*4.527-7#%47(4E$-7(4L9*'7#$D& .<1C>&j#2gB&5$%>=#$&4O;=#$Y&9>0R2;="1&4O;C12$;%I&F21$$D

"*+4)9,5:;/>U=>E=<>7@/A/BC4:D,5:;/<<=>E=<>7@/0/%-N.+4,S2T*;/F,D42LL2:/oTC)L

'$#+-'

'%


$/2*!". 1 ( 1 . < = > ?

!"#$%&#'(

15035(,'

)&%*+,$%"+./0(#,',#12 34+.,%2$&#54*+2 ,%2.+(.6&'2. ,'75#% G,9K.+)4/ )*/ j):4K,/ Y/ G)+:5:-:9K,/ 5)/ -,./ #2)*S2,./ i:S2,-)./ 5)/ -,/ )/$&62 $UJHQWLQD &XHQWD FRQ DxRV GH H[SHULHQFLD HQ HO FDPSR 5)/ -,/ 2*3).+29,S2T*/ .:S2:SN-+N4,-/ Y/ S:R:/ 5:S)*+)/ )*/ R,+)42,./ 5)/ 2*3).+29,S2T*/Y/[+2S,H/Q:S)*+)Z/2*3).+29,5:4,/Y/Q24)S+:4,/5)/$4:Y)S+:./ 5)/BC-2S,S2T*/5)/-,/1*23)4.25,5/#,.,/64,*5)/`1#6aH

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

5?& p>P21O=12& d>J;1O=#q& =1& ?>& 49:& P120;%1& V<1& ?#$& F2#I1J%#$& =1& !P?;J>J;]O& $1& J#OC;12%>O& 1O& J>%>?;b>=#21$& =1& >P21O=;b>U1$& 21>?1$B& 1012";1O=#&1$P>J;#$&=1&%2>O$A#20>J;]O&I&=1&"2>O&J#0P2#0;$#&P>2>& %#=#$&?#$&;OC#?<J2>=#$D & 9#0#&=;U12>O&@>2">21%&yd1>%?1I&I&81R#2>d&N2;1b1&Z'((Q[&1O&W%$()54*24 .5)*'4)*4254O+*4*9*'&*4.$'$4.5-*(#7$'42$47((51$#7:(4%5#7$2/&p5?&0<O=#& O#&J>0R;>&>&<O>&P12$#O>&>&?>&C1bD&9>0R;>&J<>O=#&$1&A#20>O&21=1$& =1& 21?>J;#O1$& 1O%21& ?>& "1O%1& V<1& J#0P>2%1& <O>& J><$>& I& <O>& C;$;]O& J#0/O&=1&?#&V<1&1$&P#$;R?1D&@S$&V<1&P21#J<P>2$1&P#2&?>&0>$>&J2M%;J>B& O<1$%2#& %2>R>U#& 1$& >?R12">2& J#O1_;#O1$& J2M%;J>$D& .#& O1J1$;%>0#$& J#OC1OJ12&>&<O&"2>O&O/012#&=1&P12$#O>$&P>2>&V<1&J>0R;1On&1O&?<">2& =1&1$#B&O1J1$;%>0#$&J#O1J%>2O#$&J#O&>?0>$&"101?>$D&!&%2>Ci$&=1&1$%>$& 21?>J;#O1$&=1$>22#??>210#$&?#$&O<1C#$&J#O#J;0;1O%#$B&P2SJ%;J>$B&C>?#2& I& J#0P2#0;$#$& V<1& "<M>O& d>J;>& 1?& "2>O& J>0R;#qD& F1O$>0#$& V<1& ?#$& F2#I1J%#$&=1&!P?;J>J;]O&J#O%2;R<I1O&J#O&1?&"2>O&J>0R;#D

28%@QHKGGQ\I%JK%MH4TKG;4:%JK%0ROQG8GQ\I&;O;J;>&$<&"1$%;]O&1O&>R2;?&=1?& '()\B& J#O& ?>& A;O>?;=>=& =1& $1"<;2& =1$>22#??>O=#& ?#$& F!F)& J#0#& P>2%1& =1& ?#$&P2#J1$#$&=1&%;%<?>J;]OB&>=10S$&=1&;OJ#2P#2>2&?>&O<1C>&0#=>?;=>=&=1& P2#I1J%#$&@#=1?#$&=1&.1"#J;#$&Z.;=#&F2#[B&P>2>&?#$&P2#A1$;#O>?;b>O%1$&=1& !=0;O;$%2>J;]O&=1&50P21$>$D&9#O&1$%>$&%;P#?#"M>$B&1O&1?&'()\&$1&1U1J<%>2#O& ''%RH4TKG;4:&I&$1&%;%<?>2#O&>P2#_;0>=>01O%1&&6'%K:;LJQ8I;K:5 E#$& F!F& P2#0<1C1O& ?>& ;OO#C>J;]O& $#J;>?& I& ?>& ;O%12=;$J;P?;O>2;=>=B& P>2>& >R#2=>2B& J#O%2;R<;2& I& 21$#?C12& P2#R?10>$& $#J;>?1$D& 5$%#$& P2#I1J%#$& A#20>O& P>2%1& =1& ?>$& 1$%2>%1";>$& =1& 21$P#O$>R;?;=>=& $#J;>?& =1& ?>& 8;21JJ;]O& :1O12>?& =1& 61$P#O$>R;?;=>=& 7#J;>?& I& ,MOJ<?#& J#O& ?>& 9#0<O;=>=&=1&?>&49:D&F#2&?>&O>%<2>?1b>&=1&?#$&F!FB&1$%#$&$1&>2%;J<?>O& J#O& =;C12$#$& >J%#21$& $#J;>?1$Y& J#0<O;=>=1$B& #2">O;b>J;#O1$& 1& ;O$%;%<J;#O1$&"<R12O>01O%>?1$&Im#&=1&?>&$#J;1=>=&J;C;?B&>$M&J#0#&J#O& =;C12$#$&"2<P#$&$#J;>?1$D F#2& $<& P>2%1B& ?#$& .;=#& F2#& 1$%SO& #2;1O%>=#$& >& "1O12>2& >P21O=;b>U1$& =1$=1& ?>& P2SJ%;J>& 10P21$>2;>?D& @1=;>O%1& 1?& >OS?;$;$& =1?& 1O%#2O#B& ?#$& 1$%<=;>O%1$& P2#P#O1O& $#?<J;#O1$& 1O& 1?& S0R;%#& =1& ?>& >=0;O;$%2>J;]O& =1& 10P21$>$B& ;OJ#2P#2>O=#& 1O& 1?& P2#J1$#& P2SJ%;J>$& =1& ;OC1$%;">J;]O& =1&012J>=#B&P?>O&=1&9$'V*-7(&B&1$%<=;#$&%iJO;J#$B&>=0;O;$%2>%;C#$&I& A;O>OJ;12#$B& =>O=#& ?<">2& >& ;=1>$& =1& O1"#J;#$& ;OO#C>=#2>$& =1$=1& ?>& 21$P#O$>R;?;=>=&$#J;>?&10P21$>2;>?D

5O&#2=1O&=1&;bV<;12=>&>&=121Jd>B&1?&1V<;P#&V<1&J#OA#20>&?>&8;21JJ;]O&=1&F2#I1J%#$&=1& !P?;J>J;]OY&-"O>J;#&:>2>IB&9##2=;O>=#2&=1&F!F7&I&.;=#&F2#&P>2>&P2#A1$;#O>?;b>O%1$&=1& 9#0<O;J>J;]O&I&!=0;O;$%2>J;]O&=1&50P21$>$n&r>I?MO&T2;%#B&8;21J%#2>&Z$1O%>=#$[n&e#$i& @;"<1?&9>0P;&1&-?#O>&,>??>2;O#B&J##2=;O>=#21$&=1&F!F&1O&P21"2>=#&21"<?>2n&I&!=2;>O>& E##2B&!$;$%1O%1&=1&?>&8;21JJ;]O&ZP>2>=#$[D E#$&F!F&O>J1O&1O&1?&'()H&J#0#&<O>&>?%12O>%;C>&=1&%;%<?>J;]O&P>2>&?#$&1$%<=;>O%1$&=1&?>& N>J<?%>=&=1&9#0<O;J>J;]O&@]O;J>&a12212>D&!?&"1O12>2&1O&?#$&1$%<=;>O%1$&1_P12;1OJ;>$& =1&>P21O=;b>U1$&$;"O;A;J>%;C>$B&1_P12;01O%>?1$&I&0#%;C>=#2>$B&?#$&F!F&$1&1_%1O=;12#O& >?&21$%#&=1&?>$&A>J<?%>=1$D&&8<2>O%1&1?&'()L&I&d>$%>&1?&'()^&?#$&F!F&1$%<C;12#O&>&J>2"#& =1?&81P>2%>01O%#&=1&-OO#C>J;]O&p9>$>&=1?&522#2qD

)

$:4/q,Y-K*/W42+: @>"M$%12&1O&c1#2M>&I&@1%#=#?#"M>&=1&?>$&9;1OJ;>$&7#J;>?1$&=1& ?>&NE!97l&Z!2"1O%;O>[D&9<1O%>&J#O&)3&>+#$&=1&1_P12;1OJ;>&1O& 1?& J>0P#& =1& ?>& ;OC1$%;">J;]O& $#J;#J<?%<2>?& I& J#0#& =#J1O%1& 1O&0>%12;>$&=1&;OC1$%;">J;]O&I&i%;J>D&8#J1O%1B&;OC1$%;">=#2>& I&8;21J%#2>&=1&F2#I1J%#$&=1&!P?;J>J;]O&=1&?>&4O;C12$;=>=&9>$>& :2>O=1&Z49:[D

"*+4)9,5:;/7>=>?=<>7@/A/BC4:D,5:;/77=>?=<>7@/0/F:+:;/()4T*2S,/G,-5:*,5:/0/%-N.+4,S2T*;/F4))C2k

'&


()*+,*,-)./0/BI:/(%%%/':7E

$/2*!".

'!

1 ( 1 . < = > ?

)-)(O6PFQAB>LR ?HMSA@C(?EIQF@BI(JF(SAMEI( ?>E>(TFUIE>E(S>( @IDKAKFD@A>( EFL?IDL>MSF(@ID(>DAT>SFL( JF(@IT?>VW>

5$& >?>20>O%1& $>R12& V<1& & LI8% JK% G8J8% GL8;H4& P12$#O>$& 0>?%2>%>& >O;0>?1$& 1O& ?>& <2R1B& $1"/O& 1?& ;OA#201& =1& ?>& lA;J;O>& =1& 5$%<=;#$& 61?>J;#O>=#$&1O%21&!O;0>?1$&I&a<0>O#$&Z56!a[&Z5?&4O;C12$#B&'()\[n& #&V<1&1_;$%1&<O>&P#R?>J;]O&=1&<f%SQO%RKHH4:%Y898WLIJ4:&$;O&=<1+#$B& =1& >J<12=#& >& <O& 1$%<=;#& 1O& 1?& '()^& P#2& 1?& -O$%;%<%#& .>J;#O>?& =1& -OC1$%;">J;]O&1O&7>?<=&F/R?;J>&Z-O$P;[&Z61=>JJ;]O&7#J;1=>=B&'()\[D&F#2& #%2#&?>=#B&.>%>?I&c#?1=#B&=;21J%#2>&=1&T;1O1$%>2&>O;0>?&=1&?>&F21A1J%<2>& =1?& :<>I>$B& >$1"<2>& V<1& 1?& S8T4H% RH4WOKS8% KI% BL8T8dLQO% K:% O8% RHK:KIGQ8% JK% UKOQI4:n& <O#& P#2& J>=>& d>R;%>O%1B& >A;20>& Z61=>JJ;]O& 7#J;1=>=B&'()\[D

1?&V<1&=;$1+>0#$&<O&?;R2#&=1&J<1O%#$&;OA>O%;?1$&P>2>&O;+#$&1O&$;%<>J;]O& =1&C<?O12>R;?;=>=B&=1&L&>&)'&>+#$D 9#0#&P2;012&P>$#B&=1$>22#??>0#$&<O>&1%>P>&=1&;OC1$%;">J;]OB&J#O&1?&A;O& =1&1O%1O=12&01U#2&1?&J#O%1_%#&1O&1?&V<1&$1&;R>&>&1U1J<%>2&1$%>&%12J12>& 1=;J;]OD&71&21>?;b>2#O&1O%21C;$%>$&>&1_P12%#$&ZP$;J]?#"#$B&C1%12;O>2;#$& 1&;?<$%2>=#21$[&I&R/$V<1=>$&V<1&P120;%;12#O&P?>O%1>2&#RU1%;C#$B&J21>2& P2#P<1$%>$&I&A#20>2O#$&1_P1J%>%;C>$D&9#OJ?<;0#$&V<1&12>&O1J1$>2;#& 10P#=12>2& >& ?#$& O;+#$& 1O& $;%<>J;]O& =1& C<?O12>R;?;=>=& I& J#OC12%;2?#$& 1O&>"1O%1$&=1&J>0R;#B&P>2>&01U#2>2&?>&J#OC;C1OJ;>&21$P#O$>R?1&J#O& >O;0>?1$&=1&J#0P>+M>D&F#2&1??#B&$1&;0P>2%;12#O&%>??121$B&1O&?#$&V<1&*(& O;+#$&J21>2#OB&1O&1V<;P#B&1?&J#O%1O;=#&=1?&?;R2#&=1&J<1O%#$D&

9#O& 1$%>& 21>?;=>=& O>J1& p:Ç1I;%>$q& 1O& 1?& '()QB& <O& F!F& =1& ?>& 49:& J<I#&A;O&1$&J21>2&#&01U#2>2&?>&J#OC;C1OJ;>&21$P#O$>R?1&J#O&>O;0>?1$& =1& J#0P>+M>B& >& %2>Ci$& =1& ?>& 1=<J>J;]O& >& O;+#$& "<>I>V<;?1+#$D& F>2>& >?J>Ob>2& 1$%1& #RU1%;C#B& p:Ç1I;%>$q& d>& J21>=#& =;A121O%1$& P2#=<J%#$& =;=SJ%;J#$&1O&J>=>&<O>&=1&$<$&1=;J;#O1$D

9#O& <O>& P2#P<1$%>& $]?;=>B& $1& ;O;J;]& ?>& 1%>P>& =1& C;$;%>& >& J>$>$& =1& >J#";=>B& P>2>& ?#& J<>?& 1?1";0#$& J<>%2#Y& a#">2& -Oi$& 9d>0R12$B& a#">2& F12P1%<#&7#J#22#B&!?=1>$&-OA>O%;?1$&7l7&I&F2#I1J%#&7>?1$;>O#&5J<>=#2B& =#O=1&$1&;0P>2%;12#O&%>??121$&=1&#$(5-*'$.7$B&O>22>%;C>&1&;?<$%2>J;]OD& 71&1O$1+]&?#$&J#O#J;0;1O%#$&RS$;J#$&$#R21&?>&J#OC;C1OJ;>&21$P#O$>R?1& J#O& >O;0>?1$& =1& J#0P>+M>B& J#O& 1?& >P#I#& =1& 9>O#%12>P;>& 5J<>=#2& I& $<$&P122#$&1O%21O>=#$D&F#$%12;#201O%1B&?#$&O;+#$&1$J2;R;12#O&d;$%#2;>$& $#R21&?#&V<1&>P21O=;12#O&I&?>$&J#0P?101O%>2#O&J#O&=;R<U#$&P2#P;#$D

5O&$<&P2;012>&1=;J;]O&$1&21>?;b]&1?&P2;012&C;=1#U<1"#&1=<J>%;C#&$#R21& ?>& J#OC;C1OJ;>& 21$P#O$>R?1& J#O& >O;0>?1$& =1& J#0P>+M>& 1O& 1?& P>M$D& 5?& $;"<;1O%1&>+#&$1&J21]&<O&S?R<0&=1&J2#0#$&0<?%;P?>%>A#20>B&>&%2>Ci$& =1&21=1$&$#J;>?1$D&E<1"#B&1O&1?&'()\B&A<1&1?&%<2O#&=1&0;&1V<;P#B&>+#&1O&

F>2>& d>J12& 0S$& ??>0>%;C#& 1?& ?;R2#B& $1& ;OJ#2P#2>2#O& >2%1$& J21>=>$& P#2& ')& ;?<$%2>=#21$&O>J;#O>?1$&1&;O%12O>J;#O>?1$D&5$%>$&J#?>R#2>J;#O1$&J#O$;$%;12#O&1O& =>2?1&>&J>=>&<O#&<O&J<1O%#B&J#O&$<&21$P1J%;C#&=;R<U#B&I&>&P>2%;2&=1&$<&P12$P1J%;C>& P2#A1$;#O>?B&$1&>=>P%]&1?&=;R<U#&=1?&O;+#&>&$<&1$%;?#&#&%iJO;J>&P12$#O>?D&

15035(,'

:<>I>V<;?B&J#0#&%#=>&J;<=>=B&P#$11&P2#R?10S%;J>$&V<1&>A1J%>O&%>O%#& >&$<$&d>R;%>O%1$&J#0#&>&?#$&$121$&C;C#$&V<1&?>&d>R;%>OD&5O&1$%>&J;<=>=B& ?#$& >O;0>?1$& =1& J#0P>+M>& ZP122#$& I& ">%#$[& P21$1O%>O& =;A;J<?%>=1$& J21J;1O%1$B&P#2&$<&1O#201&P#R?>J;]O&I&1?&1$%>=#&1O&V<1&$1&1OJ<1O%2>OD


''

$/2*!".

F>2>&d>J12&21>?;=>=&1?&P2#I1J%#B&$1&J#O$;"<;12#O&><$P;J;>O%1$D&71&?#"2]& J#OJ21%>2& ?>& ;0P21$;]O& =1& L((& ?;R2#$& J#O& ?>& ;0P21O%>& :2>A;OP21On& I& #R%<C;0#$& 1?& >P#I#& =1& 0>2J>$& J#0#& @J8#O>?=$B& F>2>=>;$& 88TB& 9,;O;?#$B&8<?J1$=1K>$>&I&712C;P2;O%D&5?&?;R2#&J#O%]&J#O&1?&>C>?&=1&c5!& Zc2>%#& i%;J#& >& ?#$& >O;0>?1$[& I& ?>& C1%12;O>2;>& !O;0>?& c#`OB& >0R>$& 1O& A>C#2&=1&?#$&=121Jd#$&=1&?#$&>O;0>?1$D& 71& P2;#2;b]& V<1& 1?& ?;R2#& A<1$1& >0;">R?1B& ?1";R?1& I& >%2>J%;C#& P>2>& ?#$& ;OA>O%1$D&5$%1&?#$&>I<=]&>&01U#2>2&$<&><%#1$%;0>&I&A<1&<$>=#&J#0#& d122>0;1O%>&P>2>&1O$1+>2&>&#%2#$&O;+#$D&9#O&d;$%#2;>$&J#O0#C1=#2>$B& ;0>";O>J;]OB& J#?#21$& C;C#$B& =;R<U#$& 1& ;?<$%2>J;#O1$B& I& HQ& PS";O>$B& 1?& ?;R2#&$1&%;%<?]&B+*(-5%4)*4(7X5%4*^-'$5')7($'75%"&

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

T1O10i2;%>&7#J;1=>=&F2#%1J%#2>&=1&?>&-OA>OJ;>B&J#O&1?&J#0P2#0;$#&=1& 1U1J<%>2&<O>&?>R#2&J#OU<O%>&J#O&A;O1$&1$P1JMA;J#$D ,KUKHKIGQ8: 61=>JJ;]O&7#J;1=>=D&Z'\&=1&0>2b#&=1&'()\[D&5O&x<;%#&I&:<>I>V<;?&d>I& )'LD(((& J>O1$& $;O& J>$>D& ?24 J*2G&'$85D& 61J<P12>=#& =1& d%%P$YmmR;%D ?Im':"6Axd& 9#0<O;=>=D& Z'\& =1& 0>2b#& =1& '()\[D& @S$& =1& )((& $>OJ;#O1$& $1& d>O& 10;%;=#&P#2&0>?%2>%#&>O;0>?&1O&:<>I>V<;?D&?24W(71*'%5D&61J<P12>=#& =1&d%%P$YmmR;%D?Im'0UKd.X & BLX8:%JKO%M0M }& !OI1?;O>&,1?#b }& lJ%>C;#&9]2=#C>&

}& }& }& }&

K>%dI&7>R>O=# e>1?&,1"> K1??I&6;C12> 50;?;#&-O$<>

J F>2>&P2#0#C12&1?&P2#I1J%#B&$1&>$;$%;]&>&?>&N12;>&-O%12O>J;#O>?&=1?&E;R2#& 1O& :<>I>V<;?B& =#O=1& $1& =;#& >& J#O#J12& >?& P/R?;J#& $#R21& p:Ç1I;%>$qD& 71& 21>?;b]& <O>& ";2>& =1& 01=;#$Y& )3& 2>=;#$& I& J;OJ#& 01=;#$& ;0P21$#$B& 1$%>O=#& P21$1O%1$& 1O& 21=1$& $#J;>?1$& I& P12;]=;J#$D& c>0R;iO& $1& P2#0#J;#O]&1?&P2#I1J%#&1O&N>J1R##g&1&-O$%>"2>0B&=#O=1&$1&;OA#20]& $#R21&?>&J#OC;C1OJ;>&21$P#O$>R?1B&?>$&C;$;%>$&>&?#$&d#">21$B&?#$&P?>O1$& =1?&P2#I1J%#&I&=10S$D&!=10S$B&$1&>=>P%]&1?&?;R2#&>&<O&A#20>%#&C12%;J>?& =;";%>?B&V<1&$1&1OJ<1O%2>&=;$P#O;R?1&=1&0#=#&"2>%<;%>&1O&P?>%>A#20>$& J#0#&;T##g$&I&F?>IT##g$D& F>2>&%120;O>2B&$1&21>?;b]&<O&?>Ob>0;1O%#&#A;J;>?&=1?&P2#I1J%#&=1&?;R2#B& 1?&3&=1&#J%<R21&=1?&'()\D&71&;OC;%]&>&?#$&O;+#$&V<1&P>2%;J;P>2#O&1O&?#$& %>??121$B&J#?>R#2>=#21$&=1?&P2#I1J%#B&><%#2;=>=1$B&1O%21&#%2#$D&5?&1C1O%#& $1&J1O%2]&1O&R2;O=>2&<O>&A;1$%>&=1&>"2>=1J;0;1O%#&I&1O%21">2?1$&<O>& J#P;>& =1?& ?;R2#& >& J>=>& O;+#& 1& ;?<$%2>=#2D& !=10S$B& "2>J;>$& >?& %2>R>U#& U<O%#&>?&a#">2&-Oi$&9d>0R12$B&?>&49:&?#"2]&A;20>2&<O&J#OC1O;#&J#O&?>&

L )D&K>%dI&7>R>O=#B&e>1?&,1">&ZP>2>=>$[B&50;?;#&-O$<>&I&K1??I&6;C12>&Z$1O%>=#$[D& 'D& N;20>O=#& J#OC1O;#B& @>2J;>& :;?R12%B& J>OJ;??12& =1& 49:n& 6;J>2=#& K#1O;"B& F21$;=1O%1& =1&?>&T1Oi012;%>&7#J;1=>=&F2#%1J%#2>&=1&?>&-OA>OJ;>n&I&!<=1?;>&a;"dB&21J%#2>&=1&49:D

$:4/"R2-2:/M:.[/%*.N,/6:*L^-)L E;J1OJ;>=#& 1O& 8;$1+#& :2SA;J#& I& 9#0<O;J>J;]O& ,;$<>?& =1& ?>& 4O;C12$;=>=&9>$>&:2>O=1&Z49:[D&8;$1+>=#2&:2SA;J#&N211?>OJ1D

"*+4)9,5:;/<U=>E=<>7@/A/BC4:D,5:;/<>=>J=<>7@/0/F:+:.;/S:4+).K,/5)-/,N+:4

15035(,'

-dLQR4


$ / 2 * ! " . '(

()*+,*,-)./0/BI:/(%%%/':7E

8+-0+&$'2"%.(%-. -+2$#"%-.,%2.

9:%-.-4+;%"+./2#<

%#=#&P>2>&d>J12&>?"#&R;1OD&F<1$&O#&P#2&O>=>B&1?& P2#I1J%#&">O]&1?&P210;#&=1&F!F&0S$&;OO#C>=#2D & 5?& ))& =1& >R2;?& =1& '()\& 10P1b]& <O& C;>U1& >& J;1">$B&J>$;&J#0#&?>&#R2>&V<1&?#$&1$%<=;>O%1$& J21>2#OB&1O&?>&V<1&1?&"2<P#B&U<O%#&>&$<&%<%#2>& I& 0S$& P12$#O>$& ;OC#?<J2>=>$B& %<C;12#O& V<1& ?1C>O%>2&<O&P2#I1J%#&O<1C#B&V<1&1O&$<&O<1C>& 1=;J;]O&=1&'()*&$1&21P?;J>2S&J#O&<O&1OA#V<1& =;$%;O%#B& P12#& J#O& ?>& 0;$0>& 1$1OJ;>B& =1O%2#& =1?&0;$0#&1$P1J%2#Y&$#J;>?;b>2&1?&>2%1&P>2>&?>$& P12$#O>$&J#O&=;$J>P>J;=>=D

vx<i&P>$>2M>&$;&U<O%>0#$&>&%21$&>?<0O>$&=1&?>& J>2212>&=1&5=<J>J;]OB&<O>&=1&@<?%;01=;>&I&<O#& =1&61=>JJ;]O&921>%;C>w&N<1&?#&V<1&$1"<2>01O%1& $1&P21"<O%>2#O&?#$&J##2=;O>=#21$&1O&?>&#A;J;O>& =1&F!F&>?&0#01O%#&=1&>$;"O>2&1$%1&P2#I1J%#& >& <O& "2<P#& =1& P12$#O>$& J>$;& =1$J#O#J;=>$D& 9#O& 0<I& P#J>$& J#$>$& 1O& J#0/OB& ?#$& 0;10R2#$& =1& =;Jd#& 1V<;P#& 1OJ#O%2>2#O& A#20>$& =1& J#0P?101O%>2$1B& I& %120;O>2#O& J21>O=#& <O>& P2#P<1$%>& O<OJ>& >O%1$& C;$%>B& ?;%12>?01O%1D&N<1&<O>&1_P12;1OJ;>&;O#?C;=>R?1& I&1O2;V<1J1=#2>B&%>O%#&V<1&>d#2>&01&>%21C#& >&J#O%>2?>&1O&%12J12>&P12$#O>B&P>2>&=10#$%2>2& V<1&O#&O1J1$>2;>01O%1&%;1O1$&V<1&$>R12&d>J12&

15035(,'

5$%1&/?%;0#&A<1&<O#&=1&?#$&#RU1%;C#$&=1&x<;O%#& !J%#B& P2#=<J%#2>& J21>=>& 1?& #OJ1& =1& >R2;?& =1& '()\B&1?&0;$0#&=M>&V<1&J#01Ob]&1?&$10;O>2;#& =1& %1$;$B& P#2& 1?& 1V<;P#& =1& 1$%<=;>O%1$& =1& 1$%1&P2#I1J%#D&5$%1&O#0R21&$1&;O$P;2]&1O&?#$& J;OJ#& $1O%;=#$& =1& ?#$& d<0>O#$B& I& %#0>O=#& ?>& P>?>R2>& p>J%#qB& P>2%1& J2<J;>?& 1O& 1?& %1>%2#D& j& 1$& V<1& =1& 1$#& $1& %2>%]B& =1& 1OJ#O%2>2?1& <O& $1O%;=#&>&J>=>&$1O%;=#&1O&<O>&#R2>&%1>%2>?D&l& >?&01O#$&1$#&P1O$SR>0#$&1$1&#OJ1&=1&>R2;?D 5?& %;10P#& %2>O$J<22;]& I& ??1">2#O& ?>$& P21#J<P>J;#O1$D& .;O"<O#& $>RM>& 0<Jd#& =1& %1>%2#& J#0#& 1$P1J%>=#2B& I& P1#2& J#0#& P2#=<J%#2D&F12#&1?&P2#I1J%#&>?J>Ob]&>&;2&0S$& >??SD&E#"2]&1OJ#O%2>2&1$1&1$PM2;%<&J21>%;C#&=1&

J>=>& >?<0O#B& P>2>& J#OC12%;2?#& 1O& <O>& P;1b>& J?>C1& 1O& <O& 1O"2>O>U1& /O;J#B& V<1& O#& P<=#& $12&P#$;R?1&$;O&1?&>P#2%1&=1&J>=>&P12$#O>D&E>& J21>J;]O&=1&?>&P;1b>&%1>%2>?&A<1&<O>&1_P12;1OJ;>& ;O%1O$>B&P>$>O=#&P#2&"2<P#$&=1&%1>%2#B&$>?>$& 1_P12;01O%>?1$& I& P#2& 0<Jd#$& 1$P1J;>?;$%>$& P>2>&??1">2&>=#O=1&$1&??1"]D&j&?<1"#B&=1$P<i$& =1?&P21"2>=#B&J>0R;>2?#&%#=#D

F:+:;/r*9)-/Q)m).l.

1 ( 1 . < = > ?


()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

E5%4%+*X5%4)*4L(7&O>J1&>&P>2%;2&=1&<O>&01bJ?>& =1& =;A121O%1$& ;=1>$& J#O%2>2;>$& =1?& "2<P#D& !?& ;O;J;#B&?>&#R2>&;R>&>&$12&J>$;&<O&=2>0>&A>0;?;>2D& E<1"#B& 0<%]& >& %1O12& <O& 1?1OJ#& ";">O%1$J#B& I& %120;O]& 1O& <O>& P;1b>& $1O$#2;>?& J#O& =#J1& A<OJ;#O1$B&1O&<O>&=1&?>$&$>?>$&%1>%2>?1$&0S$& ;0P#2%>O%1$& =1& ?>& J;<=>=D& T>U#& ?>& =;21JJ;]O& =1?&>2%;$%>&X>C;12&T?<0&I&$<&>$;$%1O%1B&9>2?#$& !2>"<O=;B&$1&J21]&<O&2;J#&<O;C12$#&O>22>%;C#B& ??1O#& =1& d;$%#2;>$& I& A>O%>$M>B& =;$1+>=#& P>2>& P12$#O>$&V<1&O#&C12M>O&O>=>D&

5O& ?#$& 1O$>I#$& $1& 0#$%2]& P2#A1$;#O>?;$0#& I& %10P?1B&%>O%#&=1&?#$&P2#=<J%#21$&J#0#&=1&?#$& >J%#21$D& j& =1$P<i$& =1& P?S%;J>$B& J>0R;#$& =1?& "<;#O&I&=;A121O%1$&0i%#=#$&=1&;O%12P21%>J;]OB& 1?&"2<P#&?#"2]&J#O$%2<;2&?>&#R2>D&71&J21]&>?"#& O<1C#B&O>J;=#&=1&?>&;0>";O>J;]O&I&P<1$%#&>& P2<1R>& J#O& 0S$& =1& )3(& P12$#O>$B& V<;1O1$& A<12#O&%>O&1$P1J%>=#21$&J#0#&P>2%1&=1&<O>& #R2>&V<1B&$1"/O&?>&#2">O;b>=#2>&=1&?>&T;1O>?& =1&!2%1&.#&,;$<>?B&d<R;12>&$;=#&?>&">O>=#2>& 1O&J<>?V<;12&J#OJ<2$#&>2%M$%;J#D

F12#&>O%1$&=1&P#O12&?#$&P;1$&$#R21&?>$&%>R?>$B& x<;O%#&!J%#&21>?;b]&<O>&R/$V<1=>&=1&P12$#O>$& J>P>J1$& =1& J21>2& <O& >0R;1O%1& %>O& 21>?& $;O& $12&C;$%#$B&P<1$&d>RM>O&=1J;=;=#B&=1$P<i$&=1& O#Jd1$& =1& =1R>%;2& 1& ;OJ#O%>R?1$& 1O%21C;$%>$& >& 1_P12%#$B& V<1& $<& #R2>& $12M>& P>2>& P12$#O>$& O#& C;=1O%1$D& 5O& 1?& #$%-7(&B& ?#$& >J%#21$& $1& $;O%;12#O&%>O&J#OA<O=;=#$&J<>O=#&1?&=;21J%#2& ?1$&P;=;]&V<1&?1I12>O&?>$&&?MO1>$&pJ#0#&$;&O#& %<C;12>O& J<12P#qn& $1& 21M>O& >?& d>J12?#B& P<1$& O#& 1O%1O=M>OD& 9<>O=#& $1& 1?;";]& >& & ?#$& =#J1& >J%#21$B&1??#$&1O%1O=;12#O&1?&P#2V<iD&

E>$& =#J1& A<OJ;#O1$& A<12#O& <O>& $1$;]O& 0>2>%]O;J>&=1&;0P?101O%>J;]OB&J##2=;O>J;]O& I&J21>J;]O&1O&%;10P#&21>?D&5O&?>&d;$%#2;>B&<O>& O;+>B& !O;B& $#+>R>& J#O& ?>& $1?C>& I& J>$J>=>$D& 5$%#& A<1& 21J21>=#& J#O& d#U>$& $1J>$B& P>?0>$& >?%>$B& >%#0;b>=#21$& J#O& >"<>& I& $#O;=#$& =1& >O;0>?1$& ;O%12P21%>=#$& 1O& C;C#D& E<1"#B& 0;1O%2>$&?>$&P12$#O>$&J>0;O>R>O&$#$%1O;=#$& =1& <O>& J<12=>B& 1O%2>R>O& >& <O& =1$;12%#B& V<1& J#O&>I<=>&=1&<O>&?<b&;OJ>O=1$J1O%1&$1&10<?]& J>?#2n& I& J#O& "?#R#$& 21C1O%SO=#$1B& ?>& ;?<$;]O& =1& =;$P>2#$& $1& C#?CM>& <O& P#V<;%#& 21>?D& j& >?& 1O%2>2&>&?>$&P1$>=;??>$B&0#C;?;bSO=#$1&d>J;>&1?& S21>&0S$&A2M>&=1?&%1>%2#B&$1&;OC>=M>&$<&1$P>J;#& P12$#O>?B& $1& ;OJ#0#=>R>& >& ?>& "1O%1B& $1& ?#$& d>JM>&$1O%;2&C<?O12>R?1$D&c#=#&1O&''&0;O<%#$D & 52>& 1$1& J#0P2#0;$#& J#O& ?>& A>O%>$M>& ?#& V<1& 1OJ#O%2>R>O&?>$&P12$#O>$&1O&1$%>&#R2>&=1&%1>%2#B& J1"SO=#$1&>&P2#P]$;%#&P>2>&1_P12;01O%>2&J#$>$& V<1& $<J1=1O& 1O& 1?& =M>& >& =M>B& P12#& V<1& 1$%SO& 1$J#O=;=>$&R>U#&?>&J#%;=;>O;=>=D& !$M& $1& C;C;]& <O& C;>U1& >& J;1">$B& =#O=1& 1?& J#0P2#0;$#&=1&$1O%;2&$;O&C12&$1&A;20>R>&1O&?>& 1O%2>=>B&J#O&<O&P#J#&=1&0;1=#&I&21J1?#B&P12#& >?&$>?;2B&$1&P#=M>&C12&%#=#&R>U#&#%2>&P12$P1J%;C>D& x<;O%#& !J%#& $1"<;2S& 1O& P;1B& J#0#& F!FB& I& 1$>& 1$& <O>& =1& ?>$& C;J%#2;>$& 0S$& "2>O=1$D& 5?& =1$>AM#&A<1&$<P12>=#&P#2&0<Jd#B&I&>d#2>&1$%S& ?;$%#& P>2>& J#OC12%;2$1& 1O& <O& ?1">=#&>2%M$%;J#& 1& ;OJ?<$;C#D& E>& P2;012>& C1b& A<1& <O& i_;%#D& 81&

$1"<2#B& J21J12S& 1_P#O1OJ;>?01O%1D& F#2V<1& :<>I>V<;?& O#& d>RM>& C;$%#& O>=>& $;0;?>2B& P<1$& O#&$1&%2>%>R>&=1&C12?#B&$;O#&=1&$1O%;2?#D

BLX8:%JKO%M0M }& @>2M>&92;$%;O>&!O=2>=1 }& @>2;O>&7>?C>21bb> -dLQR4 }& }& }& }& }&

@;2;>0&9>O$;O" !O;J>&F>O=b;Jd !O>&T1?iO&r>0R2>O# !?1$$;>&9>$$>O1??# e<>O&71R>$%;SO&6#012#

$:4/MN,*/i)D,.+2^*/!:R)4: E;J1OJ;>=#& 1O& 9#0<O;J>J;]O& 7#J;>?&J#O&01OJ;]O&1O&61=>JJ;]O& I& 921>%;C;=>=& 5$%2>%i";J>& =1& ?>& 4O;C12$;=>=& 9>$>& :2>O=1& Z49:[D& 61=>J%#2& P<R?;J;%>2;#& 1O& @J9>OO& y#2?=`;=1B& ?1J%#2& =1& R<1O>$& I& 0>?>$& d;$%#2;>$B& J21>=#2&=1&0#01O%#$&=;C12%;=#$& 1&;OJ]0#=#$B&1$J2;%#2&;O%2#C12%;=#& I&J>$;&P12;#=;$%>D

"*+4)9,5:;/<E=>E=<>7@/A/BC4:D,5:;/7P=>J=<>7@/0/F:+:.;/S:4+).K,/5)-/)]N2C:/yN2*+:/BS+:

15035(,'

(# $ / 2 * ! " .


$/2*!".

()*+,*,-)./0/BI:/(%%%/':7E

("

1 ( 1 . < = > ?

D ] L W Q H L F Q R F 3UR\HFWR QFLD VREUH UHOHYDTXHWDV GH GRQDU SODFRQ D SDFLHQWHV FiQFHU

9<>O=#&1O&1?&'()L&$1&1U1J<%]&1?&F!F&pF1?>Jd;%#$qB& P2#I1J%#& V<1& %>0R;iO& R<$J>R>& R1O1A;J;>2& >& P>J;1O%1$& J#O& JSOJ12& =1& 7lE9!& :<>I>V<;?B& ?>$& ;OC1$%;">J;#O1$& 21>?;b>=>$& 1C;=1OJ;>2#O& ?>& R>U>& =#O>J;]O& =1& P?>V<1%>$& I& 1?& =1$J#O#J;0;1O%#& $#R21&?>&;0P#2%>OJ;>&=1&1$%>$&1O&?#$&P>J;1O%1$D& !$M& O>J1& pF><$>& P>2>& <O>& R<1O>& J><$>q& =1$=1& 1?& '()QB& J#0#& F!F& =1& ?>& 4O;C12$;=>=& 9>$>& :2>O=1&Z49:[B&1?&J<>?&R<$J>&J#OJ;1O%;b>2&>&?#$& "<>I>V<;?1+#$&$#R21&?>&P2#R?10S%;J>&=1&?>&A>?%>& =1&=#O>J;]O&=1&P?>V<1%>$D& !J%<>?01O%1B&d>I&<O&J?<R&=1&)3&C#?<O%>2;#$& V<1& =#O>O& P?>V<1%>$& 1O& 7lE9!& :<>I>V<;?B& J#O#J;=#$&J#0#&p$<P12di2#1$qD&7;O&10R>2"#B& 1$>&J>O%;=>=&=1&=#O>O%1$&O#&1$&$<A;J;1O%1&P>2>& >?J>Ob>2&?>$&)L(&>&')(&P?>V<1%>$&01O$<>?1$&

V<1& $1& 21V<;121OB& $1"/O& ?>& =#J%#2>& T1??>& @>?=#O>=#B&U1A>&=1&%2>$P?>O%1&=1&0i=<?>&=1& 7lE9!D&5$%1&J#0P#O1O%1&1$&1$1OJ;>?B&P#2V<1& >I<=>& >& ?>& J#>"<?>J;]O& $>O"<MO1>B& %>P>O=#& ?>& d12;=>& P>2>& 1C;%>2& V<1& $1& P2#=<bJ>& <O>& d10#22>";>&ZT<;%2]OB&'()\[D 9<>O=#& 7lE9!& O#& J#O$;"<1& 1$>& J>O%;=>=B& $#?;J;%>&>&?>&92<b&6#U>&<O>&=#O>J;]On&I&=1&O#& ?#"2>2?#B& P<1=1& J#0P2>2& <O& J#OJ1O%2>=#& =1& P?>V<1%>$&>&P12$#O>$&s=#O>O%1$tB&P#2&<O&C>?#2& 1O%21&47รก\(&I&47รก)L(&ZF2;1%#B&'()\[D&5?&J#$%#& C>2M>&=1P1O=;1O=#&$;&1$&A12;>=#B&1O%21&$10>O>& #& A;O& =1& $10>O>& ZT<;%2]OB& '()\[D& !& P1$>2& =1& 1$#B& $1& R<$J>& V<1& ?>$& P12$#O>$& >I<=1O& P#2& $#?;=>2;=>=D& 5O& 1?& '()\B& ?>& 49:B& 7lE9!B& N<O=>J;]O& N?##PI& I& N<O=>J;]O& 9>$>& 6#O>?=&

15035(,'

4S)4,/ ),-2LT/ -,/ +) C:4/ 4 / ) . / U 7 > "*/ )-/ < $,N.,/ -/ $B$/ b ) 5 +:/ / * 2T 2S )5 cZ/ C4:Y)S , . N , S / , / * N*,/ DN) L,4/ ,/ -, +2 * 2) S * : S ,/ 4)/ -,/ ]N)/ DN.S N2-)I,/ .:D 5)/ ] , Y , N 9 / 5 / .:S2)5, / 5:*,S2T* -, / ) 5 / 2, S *S)4H 2RC:4+,* +)./S:*/S^ * 2) S , /C /, C-,]N)+,.

@J8#O>?=& $1& ;OC#?<J2>2#O& 1O& 1?& P2#I1J%#B& A;20>O=#& J#OC1O;#$& I& =>O=#& >P#I#& P>2>& 21>?;b>2&I&=;A<O=;2&?>$&J>0P>+>$&>?&21$P1J%#D& 7;0<?%SO1>01O%1B& ?#$& ><%#21$& =1& 1$%1& F!F& R<$J>2#O& J#OJ;1O%;b>2& >& ?>& $#J;1=>=& "<>I>V<;?1+>&$#R21&V<i&1$&<O>&P?>V<1%>&I&J]0#& >I<=>2& >& ?>$& P12$#O>$& J#O& JSOJ12B& 21$P1J%#& >& ?>& A>?%>& =1& =#O>J;]O& =1& 1$%>$B& I& P2#0#C;12#O& ?>&=#O>J;]O&C#?<O%>2;>&I&>?%2<;$%>&=1&P?>V<1%>$& P>2>&O;+#$&J#O&JSOJ12D& E>&01%>&A<1&J21>2&<O>&R>$1&=1&=>%#$&=1&=#O>O%1$& >P%#$&I&=;$P<1$%#$&>&>I<=>2&>&J<R2;2&?>&=10>O=>& 1O& 7lE9!D& F>2>& ?#"2>2?#B& p21>?;b>2#O& J<>%2#& >JJ;#O1$B& 01=;>O%1& 1$%2>%1";>$& =1& 0>2g1%;O"B& J#0<O;J>J;]OB& =;01O$;#O1$& P1=>"]";J>$& I&


$/2*!".

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

=;01O$;#O1$&#P12>%;C>$&I&?#"M$%;J>$q&ZT<;%2]OB& '()\B&PD)\[D

J#O$;=12>O&V<1&21>?;b>2&1$%1&%;P#&=1&1C1O%#$& >I<=>2M>&>&V<1&1O&7lE9!&:<>I>V<;?&d>I>&0S$& =#O>O%1$&C#?<O%>2;#$D

15035(,'

71& 1U1J<%]& <O>& J>0P>+>& 1O& 21=1$& $#J;>?1$& P>2>& %1O12& <O& 0>I#2& >?J>OJ1& =1& P12$#O>$B& I& >$M& ;OA#20>2B& J#OJ;1O%;b>2& I& 0#%;C>2?>$& >& $12& =#O>O%1$& Z7">2>C>%%;B& '()\[D& E>& J#0<O;J>J;]O& A<1& 10#%;C>& I& $1& 0#$%2]& <O& J#O%1O;=#& ;OA#20>%;C#& V<1& 1$P1J;A;J>R>& ?#$& 21V<;$;%#$& P>2>& $12& =#O>O%1& I& $<& P2#J1$#B& I& 1?&J#0P2#0;$#&>=V<;2;=#&V<1&J#O??1C>&$12&<O& =#O>O%1&C#?<O%>2;#&ZF2;1%#B&'()\[D& !=10S$B& $1& =1$>22#??]& <O>& U#2O>=>& >2%M$%;J>& =1& =#$& =M>$B& 1O& ?>& V<1& ?#$& P>2%;J;P>O%1$& >P21O=;12#O& %iJO;J>$& =1& >2%1& I& 21J;R;12#O& %1$%;0#O;#$& =1& A>0;?;>21$& J#O& JSOJ12B& P>2>& ?<1"#&J21>2&<O>&#R2>&J#O&1?&%10>&p5?&JSOJ12& ;OA>O%;?& I& ?>& ;0P#2%>OJ;>& =1& ?>& =#O>J;]O& =1& P?>V<1%>$qD& 9>=>& P;1b>& 21P21$1O%]& <O& J#OJ1P%#& =;$%;O%#n& P#2& 1U10P?#B& J]0#& ?#$& O;+#$& P<1=1O& J<0P?;2& $<$& $<1+#$& J#O& ?>& =#O>J;]O&=1&P?>V<1%>$B&1?&$;"O;A;J>=#&=1&1??>$& 1O&?>&C;=>&=1&?#$&O;+#$&I&?>&A1?;J;=>=&=1?&O;+#& I& $<& A>0;?;>& J<>O=#& 21J;R1O& <O>& =#O>J;]O& ZT<;%2]OB&'()\[D

,KUKHKIGQ8: T<;%2]OB& @D& Z'()\[D& K7%-*9$-7I$#7:(4 )*4 2$4 *^.*'7*(#7$4 )*4 )7%*X54 =4 )*%$''52254 )*4 2$4 #'*$#7:(4 )*4 2$%4 5>'$%4 $'-;%-7#$%4 )*4 3$+%$4 .5'4 +($4 >+*($4 #$+%$4 )*%)*4 2$4 97'$)$4 .*)$&:&7#$4 *(4 *24 _c`k4 Z%1$;$& =1& "2>=#[D& 4O;C12$;=>=&9>$>&:2>O=1B&:<>I>V<;?B&5J<>=#2

9#0#&21$<?%>=#&$1&?#"2]&21J#"12&H*&#R2>$&1O& %#%>?&V<1&J#OA#20>2#O&?>&J#?1JJ;]O&pF><$>qB& P12#B&=1R;=#&>&V<1&?>$&P;1b>$&A<12#O&21>?;b>=>$& P#2& >2%;$%>$& 1012"1O%1$& #& >A;J;#O>=#$B& $1& =;A;J<?%]&?>&%>21>&=1&C>?#2;b>2?>$&ZF2;1%#B&'()\[D& !&P1$>2&=1&1$#B&?>&#R2>&pF<O%#&2#U#qB&C>?#2>=>& 1O& 47รกQ((B& A<1& =#O>=>& P#2& <O& >2%;$%>& =1& ?>2">& %2>I1J%#2;>D& 8<2>O%1& <O>& $10>O>& $1& 1_P<$;12#O& ?>$& P;1b>$& 1O& 1?& 0<$1#& .>dM0& -$>M>$B& V<1& R2;O=]& >P#I#& >?& "2<P#& =1$=1& 1?& ;O;J;#B& ?#"2>O=#& <O>& 0>I#2& J#OJ;1O%;b>J;]O& $#R21&?>&P2#R?10S%;J>D& E>$& =#$& >JJ;#O1$& 21$%>O%1$& =1?& P2#I1J%#& A<12#O& ?>& pJ#?#J>J;]O& =1& 1$%>O=$& 1O& ?<">21$& 1$%2>%i";J#$& P>2>& ?>& J>P%>J;]O& =1& =#O>O%1$q& I&?>&p1O%21">&=1&P<?$12>$&I&21J<12=#$&d1Jd#$& P#2& O;+#$& =1& ?>& 9>$>& 6#O>?=& @J8#O>?=$& >& =#O>O%1$q&ZT<;%2]OB&'()\B&PDH[D 81& >"#$%#& >& #J%<R21& =1?& '()\& $1& #R%<C#& 3)& =#O>J;#O1$n& 1?& Q)~& =1& ?>$& P12$#O>$& =#O]& 0S$&=1&<O>&C1b&ZT<;%2]OB&'()\[D&@1=;>O%1&?>$& Jd>2?>$& I& %1$%;0#O;#$& #R%1O;=#$B& 1?& 1V<;P#& ?#"2]& V<1& ?#$& P>2%;J;P>O%1$& =1& ?>& U#2O>=>& %1O">O& 0S$& J#OJ;1OJ;>& $#R21& ?>& =#O>J;]O& =1& P?>V<1%>$& I& $<& A<OJ;]O& 1O& 1?& J<12P#n&

F2;1%#B& 9D& Z'()\[D& K7%-*9$-7I$#7:(4 )*4 2$4 *^.*'7*(#7$4)*42$4&*%-7:(4)*4'*#+'%5%4.$'$4 2$4 $+-587($(#7$#7:(4 )*4 2$%4 $#-717)$)*%4 )*24.'5=*#-543$+%$435'4+($4Q+*($4B$+%$4 *(4*24$X54_c`k&Z%1$;$&=1&"2>=#[D&4O;C12$;=>=& 9>$>&:2>O=1B&:<>I>V<;?B&5J<>=#2 7">2>C>%%;B& 5D& Z'()\[D& K7%-*9$-7I$#7:(4 )*4 2$4 *^.*'7*(#7$4 )*4 #5(#*.-+$27I$#7:(4 *4 79.2*9*(-$#7:(4 )*4 2$4 *%-'$-*&7$4 )*4 #59+(7#$#7:(4 *(4 '*)*%4 %5#7$2*%4 .$'$4 *24 .'5=*#-543$+%$435'4W($4Q+*($4B$+%$4)+'$(-*4 *24$X54_c`k&Z%1$;$&=1&"2>=#[D4O;C12$;=>=&9>$>& :2>O=1B&:<>I>V<;?B&5J<>=#2 BLX8:%JKO%M0M }& E<;$&9>P1??#& }& 9>2#?>&:>2JM> -dLQR4 }& }& }& }&

@>2M>&!O%#O1??>&T<;%2]O&7122>O# 5Ob#&7">2>C>%%;&7>R#21=# 9?><=;>&F2;1%#&.#">?1$ 7>2>&@>2M>&-O%2;>"#&

$:4/MN-2..,/#:4:*)-

"*+4)9,5:;/<?=>J=<>7@/A/BC4:D,5:;/<P=>J=<>7@/0/F:+:.;/S:4+).K,/5)/"*L:/i9,4,3,++2/0/o:9:/S:4+).K,/5)/Q24H/$4:Y)S+:./5)/BC-2S,S2T*/5)/1#6

()


$/2*!".

()*+,*,-)./0/BI:/(%%%/':7E

(+

15'/0&$'#.,0.!""'9(&!+"

ESTERO 7;& d>I& >?"#& 1O& :<>I>V<;?& AM$;J>01O%1& #0O;P21$1O%1& 1$& 1?& 1$%12#& 7>?>=#D& 81$=1& $<& ;O"21$#&P#2&1?&$<2B&21J#221&1_%1O$>$&b#O>$&<2R>O#& 0>2";O>?1$&J#0#&?#$&:<>$0#$B&-$?>&c2;O;%>2;>&#&1?& T>%>??]O& =1?& 7<R<2R;#n& JiO%2;J>$& J#0#& 1?& T>22;#& :>2>IB& 7>O& 5=<>2=#B& T1??>C;$%>B& N122#C;>2;>& #& T>22;#& =1?& 7>?>=#n& I& =1?& O#2%1B& J#0#& 42=1$>B& @;2>A?#21$&#&K1OO1=ID&5$&=;AMJ;?&%2>$?>=>2$1&=1& <O& 1_%210#& >& #%2#& =1& ?>& J;<=>=& $;O& J2<b>2$1& J#O&i?D F12#B&>&?>&C1bB&$;&>?"#&d>I&1O&:<>I>V<;?&;O=1R;=>&I& P1?;"2#$>01O%1&;"O#2>=#&P#2&$<$&d>R;%>O%1$&$#O& ?#$&0/?%;P?1$&P2#R?10>$&V<1&$<A21&1$%1&R2>b#& =1&0>2D&5O%21&1??#$B&J#O%>0;O>J;]O&=1&=;C12$#& %;P#& I& A<1O%1n& 21??1O#& I& 1$%2>O"<?>0;1O%#& =1& $<$&J><J1$&I&2>0>?1$n&;OC>$;]O&=1&$<$&2;R12>$& P#2& >$1O%>0;1O%#$& A#20>?1$& 1& ;OA#20>?1$n& 1_%;OJ;]O& #& 21=<JJ;]O& =1& $<& A><O>& I& A?#2>& #2;";O>?n&<$#&=1&$<$&>"<>$&J#0#&C12%1=12#B&1%JD&

salvar al Salado

con Periodismo 81$=1& O<1$%2>& ?>R#2& 1O& =;>2;#& 5_P21$#& =1& :<>I>V<;?B&P2;012#&J#0#&P12;#=;$%>B&I&?<1"#& J#0#&1=;%#2&=1&?>&$1JJ;]O&J#0<O;%>2;>B&1$%#& d>& $;=#& <O>& P21#J<P>J;]O& 21J<221O%1D& .#& $#?#&P#2V<1&$1&%2>%>&=1&<O&21J<2$#&O>%<2>?&>?& V<1&$1&=1R1&J<;=>2&I&J#O$12C>2B&$;O#B&I&$#R21& %#=#B& P#2V<1& $<& 1C1O%<>?& J#?>P$#& ;0P?;J>2M>& 1A1J%#$& >0R;1O%>?1$B& 1J#O]0;J#$& I& $#J;>?1$& ;O;0>";O>R?1$&P>2>&?>&J;<=>=D&&& &&&& 81& >??M& O>J;]& ?>& ;=1>& I& 1?& =#R?1& #RU1%;C#& =1& 1$%1&P2#I1J%#Y&d>J12&>?"#&P#2&1?&1$%12#&7>?>=#& =1$=1& O<1$%2#& #A;J;#B& I& P#O12& 1O& P2SJ%;J>& ?#& >P21O=;=#&=<2>O%1&1?&=1$>22#??#&=1&?>&0>1$%2M>& 1O&F12;#=;$0#&V<1&1$%>R>&J<2$>O=#&1O&?>&49:D&

1'#35(,'#

VIVO

H*4/(&U(35)L:*$(&".&#3&)(:(,&".,&.4/.)5&M(,("5I& .3&4#&U(45&U5)&.,&4#)5.4/.&".&,(&$*#"("%

j&1?&%12J12#B&J?>2#B&J<0P?;2&J#O&1?&%2>R>U#&=1& %;%<?>J;]O&V<1&1_;"M>&=;Jd#&P#$"2>=#D E>& R/$V<1=>& I& 21C;$;]O& =1& ?#& V<1& $1& d>RM>& d1Jd#&>O%1$&1O&1$%1&J>0P#&O#$&??1C]&>&<O>& P2;012>&J#OJ?<$;]OD&4$<>?01O%1B&?#$&%2>R>U#$& >J>=i0;J#$&?#J>?1$&$#R21&1?&%10>&P12%1O1J1O& >& ?>$& =;$J;P?;O>$& =1& x<M0;J>& #& T;#?#"M>D& .#& 1OJ#O%2>0#$& <O>& ;OC1$%;">J;]O& #& >2%MJ<?#& J;1O%MA;J#&=1$=1&>?"/O&#%2#&J>0P#&=1&?>$&J;1OJ;>$D&& F12#B& P>2>& :<>I>V<;?B& 1?& 7>?>=#& 1$& 0S$& V<1& <O&J<12P#&=1&>"<>Y&1$&A<1O%1&=1&%2>R>U#B&=1& >?;01O%>J;]OB&CM>&=1&J#0<O;J>J;]OB&>%2>J%;C#& %<2M$%;J#B& %1$%;"#& I& P>2%1& =1& ?>& d;$%#2;>& =1& ?>& J;<=>=B& 01">$;$%10>& O>%<2>?& =1& =21O>U1B& 1?101O%#&J?>C1&=1&$<&1J#$;$%10>D 81&>??M&V<1B&>&O<1$%2#&J2;%12;#B&$<&21J<P12>J;]O& I& P21$12C>J;]O& =1R1& $12& %>21>& =1& %#=#$& ?#$& "<>I>V<;?1+#$B&=1$=1&$<$&21$P1J%;C#$&S0R;%#$D&


$/2*!".

5O& O<1$%2#& J>$#B& =1$=1& 1?& P12;#=;$0#D& @S$& >/OB& $;& 21J#2=>0#$& V<1B& 1$1OJ;>?01O%1B&1?&O#2%1&=1&1$%1&#A;J;#&1$&?>&R/$V<1=>&=1?&R;1O&J#0/OD&

1'#35(,'#

vF12#B&P<1=1&1?&P12;#=;$0#&$>?C>2&>?&1$%12#&7>?>=#w&92110#$&V<1&P<1=1& >P#2%>2&>&1??#&I&=1&0<Jd>$&0>O12>$D&F#2&1U10P?#B&=;A<O=;1O=#&?#&V<1& 1$#$& %2>R>U#$& =1& T;#?#"M>B& x<M0;J>& I& 0S$& 21C1?>O& I& 21J#0;1O=>OB& P2#J<2>O=#& <O>& '*.5'-*';$& P120>O1O%1& $#R21& $<& $;%<>J;]OB& ;OA#20>O=#& ?#& V<1& ?>$& ;O$%>OJ;>$& "<R12O>01O%>?1$& =1J;=1O& I& d>J1O& Z#&O#[&>?&21$P1J%#B&"1O12>O=#&<O&=1R>%1&1$P1J;>?;b>=#&$#R21&1?&%10>B& ;0P<?$>O=#&?>&%#0>&=1&J#OJ;1OJ;>&J;<=>=>O>B&I&>2%;J<?>O=#&%#=#&1$%#& 1O&<O&P#2%>?&=;";%>?&=1=;J>=#&>&1$1&A;OD& F#2& J#;OJ;=1OJ;>B& 1_;$%1& <O>& %1O=1OJ;>& "?#R>?& =1& J#O$12C>J;]OD& 4O>& %1O=1OJ;>&V<1&%>0R;iO&$1&21P?;J>&1O&O<1$%2>&J;<=>=B&J#0#&=10<1$%2>O& ?#$& 21$<?%>=#$& =1& <O>& 1OJ<1$%>& V<1& 1A1J%<>0#$& >& %2>Ci$& =1& 21=1$& $#J;>?1$B&J#O&1?&A;O&=1&J#O#J12&I&01=;2&?>&1C1O%<>?&>J1P%>J;]O&=1&1$%1& P2#I1J%#D&j&J#O&1??#B&=1%120;O>2&%>0R;iO&$<$&P#$;R?1$&=1$%;O>%>2;#$&#& ;O%121$>=#$&1O&$<&J#O%1O;=#D

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

N;O>?01O%1B&P?>O%1>0#$&V<1&1$%1&P#2%>?&1$%i&;O;J;>?01O%1&;OJ?<;=#&J#0#& P>2%1&=1&?>&`1R&=1&=;>2;#&5_P21$#B&><OV<1&J#O&$<$&P2#P;>$&J<1O%>$&1O& 21=1$&$#J;>?1$B&P>2>&P2#0#J;#O>2&I&=;A<O=;2&$<$&J#O%1O;=#$D&5$%#&%1O=2M>& =#$&"2>O=1$&C1O%>U>$Y&1O&?#&1J#O]0;J#B&1?&>d#22#&=1&?#$&J#$%#$&1O&21J<2$#$& d<0>O#$&I&0>%12;>?1$&V<1&;0P?;J>&J21>2&<O>&`1R&;O=1P1O=;1O%1n&I&P#2& #%2#B& >P2#C1Jd>2& ?>& J21=;R;?;=>=& I& 1?& >?J>OJ1& 1O& ;O%12O1%& =1& <O& 01=;#& J#O$#?;=>=#&J#0#&5_P21$#B&>$M&J#0#&$<&J#0<O;=>=D& 5O& A;OB& <O>& `1R& V<1& P120;%>& I& A#01O%1& ?>& ;O%12>JJ;]O& I& 1?& =1R>%1n& V<1&"1O121&J#OJ;1OJ;>&I&0#C;?;b>J;]O&J;<=>=>O>D&4O&P#2%>?&C;C#B&J#0#& >A#2%<O>=>01O%1B&>/O&1$%S&O<1$%2#&1$%12#D& MH4TKG;4%G4SROK;4$&d%%P$YmmR;%D?Im'yy3`7"&& BLX8%JKO%RH4TKG;4 }& :<;??120#&:<22<%_>">B&FdD&8D

!$MB&?#$&P>2%;J;P>O%1$&1O&?>&1OJ<1$%>&J#O$;=12>2#O&p0<I&;0P#2%>O%1q& Z*)B*~[&1?&%10>&=1&?>&21J<P12>J;]O&I&P21$12C>J;]O&=1?&1$%12#&7>?>=#n&I& 1?&^*B*~&1$%;0]&p0<I&;0P#2%>O%1q&V<1&1_;$%>&;OA#20>J;]O&>J%<>?;b>=>& 1O& ?>& `1R& $#R21& $<& J#O%>0;O>J;]O& I& J#O$12C>J;]OD& !$;0;$0#B& 1?& ^3BL~&21$P#O=;]&V<1&12>&p0<I&;0P#2%>O%1q&J#O#J12&?>$&P2#P<1$%>$&=1& >J>=i0;J#$&I&=1&1O%;=>=1$&P/R?;J>$&I&P2;C>=>$&P>2>&$<&21J<P12>J;]O& I&P21$12C>J;]On&I&#%2#&'(B)&~&;O=;J]&V<1&?#&>O%12;#2&12>&p;0P#2%>O%1qD& E>&P2#P#2J;]O&P#2&"iO12#&A<1&P>21U>Y&A101O;O#B&L)&~n&0>$J<?;O#B&3*& ~D&F#2&2>O"#$&=1&1=>=B&?>&0>I#2M>&$1&<R;J]&1O%21&?#$&'(&I&HL&>+#$D&F#2& #J<P>J;]OB&P21=#0;O>2#O&<O;C12$;%>2;#$&I&P2#A1$;#O>?1$&O>J;=#$&#&V<1& C;C1O&1O&:<>I>V<;?D&c#=#$&1$%#$&=>%#$&O#$&P120;%;12#O&J#OA#20>2B&>& ?>&C1bB&1?&P12A;?&=1?&P/R?;J#&P2;OJ;P>?&>?&V<1&;2M>&=;2;";=#&1?&P#2%>?D&7<$& l*$'2=4$)5.-*'%mD&&&& !P?;J>O=#&<O#&=1&?#$&0i%#=#$&>P21O=;=#$&1O&?>&0>1$%2M>B&21>?;b>0#$& <O& 1U12J;J;#& J#O& <O& "2<P#& =1& 1_P12%#$& 1O& 1?& %10>B& J#O& 1?& A;O& =1& J#OJ1R;2&<O&P2#I1J%#&A>J%;R?1&I&J#O&C>?#2&>"21">=#&#&=;A121OJ;>?D&81& 1O%21& ?>$& 0/?%;P?1$& ;=1>$& P2#P<1$%>$B& 1?1";0#$& =#$Y& ?>& P>2%;J;P>J;]O& =1& >J>=i0;J#$& V<1& 21>?;b>O& ?>$& ;OC1$%;">J;#O1$& $#R21& 1?& 1$%12#& 1O& ?>& 21C;$;]O& =1& ?#$& J#O%1O;=#$& #& P2#=<J%#$& ;OA#20>%;C#$n& I& 1?& <$#& =1& 21J<2$#$& 0<?%;01=;>& P>2>& ?>& P21$1O%>J;]O& =1& 1$%#$D& E>& P2;012>B& J#O& 1?&A;O&=1&">2>O%;b>2&?>&1_>J%;%<=&I&2;"#2&=1&?>&;OA#20>J;]On&?>&$1"<O=>B& P>2>&1O%21">2?>&=1&0>O12>&?/=;J>&I&A>J;?;%>2&$<&J#0P21O$;]OD

0GGKJ8% 8% LI8% QIU49H8UX8% QI;KH8G;QY8% GHK8J8% JKO% -:;KH4% "8O8J4[% KI% KO% :Q9LQKI;K% KIO8GK$%P;;R:$77WQ;5OT7<?F',HJ%

$:4/')-.:*/jND,Y @>"M$%12& 1O& F12;#=;$0#& J#O& 01OJ;]O& 1O& F12;#=;$0#& 8;";%>?& I& :1$%;]O& =1& F2#I1J%#$& @<?%;01=;>& =1& ?>& 4O;C12$;=>=&9>$>&:2>O=1&Z49:[D&5$&P12;#=;$%>&I&1=;%#2&=1& =;>2;#&5_P21$#D

(QWUHJDGR $SUREDGR ‡ )RWR $OH[ /LPD

($


()*+,*,-)./0/BI:/(%%%/':7E

$/2*!".

(%

15'/0&$'#.,0.!""'9(&!+"

1'#35(,'#

!"#$%&'$(")*+

:<>I>V<;?&1$&<O>&J;<=>=&P#2%<>2;>&J#O&<R;J>J;]O&P2;C;?1";>=>&U<O%#&>?& 2M#&:<>I>$B&2#=1>=>&=1&0>O"?>21$B&R#$V<1$&I&0<I&J12J>&=1&?>&P?>I>D& 7;O&10R>2"#B&O#&1$&?>&J;<=>=&0S$&C;$;%>=>&Zc#221$B&'()\B&PD)[D&

#:R:/ C,4+)/ 5)/ .N/ +4,D,m:/ 5)/ +2+N-,S2T*/ 5)/ -,/ R,).+4K,/ )*/ #:RN*2S,S2T*/ S:*/ R)*S2T*/ )*/ #:RN*2S,S2T*/ Q292+,-/ 5)/ -,/ 1#6Z/ )*/ )-/ <>7U/ ',O2,4,/ G:4^*/ Y/ #)S2-2,/ j:44)./ S4),4:*/ N*/ C4:+:+2C:/5)/+N42.R:/C,4,/6N,Y,]N2-H/".+)/DN.S,/ C4:C:*)4/.2+2:./,-+)4*,+23:./N4D,*:./C,4,/32.2+,4Z/ ,5)R^./ 5)/ -:./ -N9,4)./ ]N)/ +4,52S2:*,-R)*+)/ .)/ C4:R:S2:*,*Z/ 4)S:R)*5,5:./ C:4/ -:./ R2.R:./ 9N,Y,]N2-)I:./ ]N)/ S:*:S)*/ )-/ ^RD2+:/ -:S,-/ Y/ ,4+K.+2S:/5)/-,/S2N5,5H/_)/,]NK/N*/4).NR)*/5)/.N/ 2*3).+29,S2T*/Y/C4:CN).+,H

E>$& ><%#2>$& =1?& P21$1O%1& P2#I1J%#& =1& %;%<?>J;]O& 1_P?;J>2#O& 1O& <O>& 1O%21C;$%>& V<1& ?>& ;OC1$%;">J;]O& 21>?;b>=>& ?>$& ??1C]& >& O#%>2& V<1& ?>& P2#0#J;]O&=1&:<>I>V<;?&$1&J1O%2>&1O&P>2V<1$B&;"?1$;>$&I&1?&@>?1J]O& '(((D&.#&$1&1C;=1OJ;>&1?&1$%;?#&=1&C;=>&=1&?#$&"<>I>J#$B&V<1&$<1?1&$12& ?#&0S$&>%2>J%;C#&=1&?>&J;<=>=D&5O&J>0R;#B&1O&P?>%>A#20>$&=;";%>?1$&=1& #%2>$&J;<=>=1$&=1?&0<O=#&$M&0<1$%2>O&$;%;#$&0S$&?#J>?1$D&!$M&0;$0#B& >0R>$&J#OJ<12=>O&V<1&1$&0S$&ASJ;?&P2#0#J;#O>2&?#&0;$0#&=1&$;10P21D& 5O&1?&%<2;$0#&O>J;#O>?&$1&J#01%1&0<Jd>$&C1J1$&1?&122#2&=1&V<1=>2O#$& 1O& ?#& s$1"<2#t& Z9D& c#221$& I& .D& @#2SOB& J#0<O;J>J;]O& P12$#O>?B& ''& =1& 0>2b#&=1&'()*[D

,-&-&.+%$+#&/($(+ #"0"+/1+%"#$%2

!&P1$>2&=1&1$%#B&1_;$%1O&"<M>$&%<2M$%;J>$&P>2>&1?&1_%2>OU12#&V<1&$M&=1J;=1& C;$;%>2&?>&J;<=>=B&J#0#&$#O&?>$&>P?;J>J;#O1$&0]C;?1$&=1&p:<>I>V<;?&1$& 0;&=1$%;O#q&#&p:<>I>V<;?&1O&%<&0>O#qB&P12#&kc#221$&>$1"<2>&Z'()\[k& O;O"<O>&J<1O%>&J#O&pd122>0;1O%>$&V<1&J#O$%2<I>O&<O>&J#0<O;=>=&#& 21=&$#J;>?qB&P>2>&V<1&?#$&<$<>2;#$&;O%12>J%/1O&#&J#0P>2%>O&$<$&P2#P;#$& J#O%1O;=#$&ZPD'[D


$/2*!".

5O& ?>& ;OC1$%;">J;]O& %>0R;iO& $1& 1OJ#O%2>2#O& >2%MJ<?#$& V<1& $<"12M>O& V<1&1?&$1J%#2&%<2M$%;J#&=1R12M>&=;2;";2&$<$&1$%2>%1";>$&d>J;>&1?&0<O=#& =;";%>?B& V<1& d#I& 1$& P>2%1& =1?& =;>2;#& C;C;2B& J#0P?101O%>O=#& 1$%#& J#O& <O&1OA#V<1&d>J;>&?>&"1O12>J;]O&=1&?#$&9722*((7$2%6&V<;1O1$&$1"/O&y;??& a1;?P12O& Z'()Q[B& p1$%SO& =1$1$P12>=#$& P#2& 21J;R;2& J#01O%>2;#$& 1O& ?>$& A#%#$&=1&$<$&C>J>J;#O1$)qD

1'#35(,'#

5O& C;$%>& =1& ?#$& >$P1J%#$& A>?%>O%1$& 1O& ?>$& A<1O%1$& ;OC1$%;">=>$& I& ?>$& =10>O=>$&1OJ#O%2>=>$&=1O%2#&=1?&$1J%#2&%<2M$%;J#B&$1&J21]&1?&P2#%#%;P#& pE#J>?;b>=#$qB&<O&$;%;#&`1R&J#O&C12$;]O&0]C;?&J<I#&"2<P#&#RU1%;C#&$#O& ?#$&%<2;$%>$&O>J;#O>?1$&1&;O%12O>J;#O>?1$&V<1&O#&C;C1O&1O&:<>I>V<;?D& 5?& P2#P]$;%#& =1?& 10P21O=;0;1O%#& 1$& $12& <O>& "<M>& %<2M$%;J>& <2R>O>& I& =;";%>?& V<1& O#& $#?#& C;$;R;?;J1& ?>& #A12%>& =1& J#O$<0#$& J<?%<2>?1$& =1& ?>& V<1&=;$P#O1&:<>I>V<;?&$;O#&%>0R;iO&J211&<O>&J#0<O;=>=&=1&<$<>2;#$& O>J;#O>?1$&I&1_%2>OU12#$&Zc#221$B&'()\B&PD'[D&

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

,KUKHKIGQ8: a1;?P12OB&yD&Z'()Q[D&@;??1OO;>?$&>21&Jd>O";O"&%d1&A<%<21&#A&%2>C1?&k&d121t$& d#`&%2>C1?&J#0P>O;1$&>21&>=>P%;O"&z5O%2>=>&=1&R?#"|D&61J<P12>=#& =1&d%%P$YmmR;%D?Im'@8lOxF& @#2SOB& .D& Z'()\[D& ?%-'$-*&7$4 )*4 9$'V*-7(&4 )7&7-$24 =4 #59+(7#$#7:(4 -'$(%9*)7$4.$'$42$45.*'$)5'$4-+';%-7#$4)7&7-$24lE5#$27I$)5%m& Z%1$;$& =1&0>1$%2M>[D&4O;C12$;=>=&9>$>&:2>O=1B&:<>I>V<;?B&5J<>=#2D& c#221$B& 9D& Z'()\[D& E5#$27I$)5%64 -+'7%954 +'>$(54 $2-*'($-715& Z%1$;$& =1& 0>1$%2M>[D&4O;C12$;=>=&9>$>&:2>O=1B&:<>I>V<;?B&5J<>=#2D&

E>& #A12%>& 1$%>2M>& =;C;=;=>& $1"/O& 1?& %;P#& =1& 21J#22;=#& V<1& $1& =1$1>& 21>?;b>2Y& 1J#%<2;$0#& <2R>O#B& -5+'& ">$%2#O]0;J#& I& 1$J1O>& 0<$;J>?B& >2%1&I&J<?%<2>&;O=1P1O=;1O%1D&5?&J#O%1O;=#&=1&J>=>&<O>&=1&1$%>$&2<%>$& 1$&J21>=#&P#2&"<M>$&?#J>?1$&1$P1J;>?;b>=#$&1O&1$>$&2>0>$B&I&1?1";=#$& P21C;>01O%1& P#2& ?>$& ><%#2>$Y& p92110#$& V<1& ?#$& J#O#J1=#21$& =1& ?>& J;<=>=& $#O& ?#$& 0;$0#$& "<>I>V<;?1+#$& V<1& O>J;12#O& 1O& z1??>|& I& V<1& z?>|&d>O&1_P?#2>=#&=<2>O%1&%#=>&$<&C;=>q&Zc#221$B&'()\B&PDH[D&F#2&1??#B&?>& P2#P<1$%>&=1&C>?#2&=1&pE#J>?;b>=#$q&1$&C;C;2&?>&J;<=>=&J#0#&<O&?#J>?B& ?#"2>O=#&V<1&1?&%<2;$%>&1_P12;01O%1&?>&J#%;=;>O;=>=&"<>I>V<;?1+>&=1& ?>&0>O#&=1&$<$&P2#P;#$&P12$#O>U1$&Z@#2SOB&'()\B&PDQ([D

6HW>(JFS(?EIQF@BI }&a<"#&F>2=#

$GHA?I

}&91J;?;>&c#221$ }&.>d;>2>&@#2SO

. 2$/2"1

'"./

$J>2& 2& ;=1>$B& R< D& > ;b 22 %1 > 2& & =1$1>=# &A<1&?#"2> P21O=;b>U1 ?& 21$<?%>=# >$& ?>$& > 1 & ;& I & $ &0 1 > = = > ?& $& >=1J< 2?>$& %#= E#&J1O%2> %>$& =;";%>?1 O%>$& =1R12M>O& %1O1 O ;1 0 > 22 1 d ?>$& #221$D 122>0;1 1& 1$%>$& d &Ñ&9 1 J ;? ;> &c 2> 1 22 > &J < F;1O$#& V< $ 2& >$& ;O&;0P#2%> O#?#"M>&I&? J 1 P12$#O>$B&$ &% > &? # 0 1$;=>=1$& %1O=12& J] >U1&A<1&1O #&$#?#&$>%;$A>J12&O1J ;b = O 21 P > ;%>O=#& @;& 0>I#2& $&P<1=1O&O ?C12&P2#R?10>$&A>J;? ?1 > ;% ;" &= $ > = #& 1 $# & J # 0 P ?; J ;OO#C>J;#O I<=>2&>&21 M> 2 &> $ 1 S $ & 0 1 > 2 = 1 #&> >O $#J;>?1$B&$;O & V < 1 & = 1 & # % 2 > & 0 $ > % O ;1 2SO d122>0 > d ;> 2 > &@ # &. &Ñ 2 1 O 1 % #R

9#0#& P>2%1& =1& ?>$& 1$%2>%1";>$& =1& 9$'V*-7(&& I& P2#0#J;]O& =1& ?#$& $12C;J;#$& =1& pE#J>?;b>=#$q& $1& P2#P#O1Y& )[& 61>?;b>2& 1?& ?>Ob>0;1O%#& =1& <O>& 21C;$%>& ;0P21$>& J#O& 1=;J;]O& >O<>?B& ?>& J<>?& P#=2M>& $12& >=V<;2;=>& 1O& $;%;#$& 1$%2>%i";J#$& =1& >?;>=#$& Z>12#P<12%#B& d#$%>?1$B& 1O%21& #%2#$[n& '[& !?;>Ob>$& 1$%2>%i";J>$& V<1& P120;%>O& ?>& C;$;R;?;=>=& =1& ?>& 0>2J>& I& V<1& =>2M>O& R1O1A;J;#$& =1& =1$J<1O%#$& I& P2#0#J;#O1$& 1$P1J;>?1$n& H[& 9#OC1O;#& J#O& <O& 01=;#& ;0P21$#& P>2>& P<R?;J>J;]O& =1& <O>& J#?<0O>& $10>O>?&$#R21&%<2;$0#&=1&:<>I>V<;?n&I&3[&!?;>Ob>&J#O&<O>&#P12>=#2>& =1&%<2;$0#&?#J>?B&P>2>&%1O12&>JJ1$#&>&C;$;%>O%1$&1_%2>OU12#$D 5O& ?>& 1O%21C;$%>& 21>?;b>=>& >& >0R>$& Z''& =1& 0>2b#& =1& '()*[B& ?>$& ><%#2>$& >$1"<2>O&V<1&1$%SO&=1$>22#??>O=#&<O&P?>O&1$%2>%i";J#&P>2>&V<1&1?&P2#I1J%#& $;">&>=1?>O%1&I&P12=<21D&p.#&V<;$;i2>0#$&V<1&$1>&>?"#&%10P#2>?qD

9;%>&%2>=<J;=>&>?&1$P>+#?D&N<1O%1&R;R?;#"2SA;J>&1_%2>M=>&=1&%2>R>U#&=1&%;%<?>J;]O&=1& 91J;?;>&c#221$&Z'()\[D )&

"*+4)9,5:;/<<=>7=<>7@/A/BC4:D,5:;/<J=>8=<>7@/0/F:+:;/S:4+).K,/5)/#)S2-2,/j:44)./Y/',O2,4,/G:4^*

(&


$ / 2 * ! " . (!

()*+,*,-)./0/BI:/(%%%/':7E

*',0)'.,0."03'&!'#.<=>?

,$*!/%-,/

&'+%)6*P$6.').,* 34+!5+67!!5+89 1,$*-'/*,&"'.6/%')6

15'80#!'"()!:("$0#

*D( FGHA?I(JF(XE>JH>JIL(JFS(1IJFSI(JF('FXI@AIL( ?>E>( ?EIYFLAID>SAN>DBFL( JF( S>( *DAKFELAJ>J( %>L>( 6E>DJF( Z*%6[(?EFLFDBC(FD(FS(\]^_(HD>(FLBEH@BHE>(FT?EFL>EA>S( LCSAJ>`(S>(AT?SFTFDB>@ACD(JF(O%>LADI(5SIB>DBF(1ASS>(^aR3( ?EIQF@BI(GHF(XFDFE>EW>(_b(FT?SFIL3(@IDKAEBAcDJILF(FD( HD>(?EI?HFLB>(ADDIK>JIE>(?>E>(FS(BHEALTI(F@H>BIEA>DI3( BE>KcL(JF(SIL(AT?HFLBIL(GHF(XFDFE>E>(FLBF(DFXI@AId(

5O&1?&'()\B&?#$&;O%1"2>O%1$&=1&1$%1&P2#I1J%#&21>?;b>2#O&<O>&;OC1$%;">J;]O& P>2>& P2#P#O12& ?>& J21>J;]O& =1& <O& J>$;O#& A?#%>O%1& >& %21J1& 0;??>$& d>J;>& >A<12>& =1?& P12A;?& J#$%>O12#& 1J<>%#2;>O#D& !& %2>Ci$& =1& 1OJ<1$%>$& >& ?#$& J;<=>=>O#$&"<>I>V<;?1+#$B&$1&J#O#J;]&V<1&1?&^LD'~&=1&?>&0<1$%2>&1$%S& ;O%121$>=#&1O&=;$A2<%>2&=1&U<1"#$&=1&>b>2&1O&1$%>&10R>2J>J;]OD & 8<2>O%1& ?>& ;OC1$%;">J;]OB& 1?& P2#J1$#& =1& N*%7&(4 J,7(V7(&& ?1$& P120;%;]& 1O%1O=12& ?>$& O1J1$;=>=1$& =1?& P/R?;J#& V<1& 1$%>2M>& ;O%121$>=#& 1O& ?>& 1_;$%1OJ;>&=1&<O&J>$;O#&1O&1?&P>M$D&F>2>&;O;J;>2&1$%1&P2#J1$#&$1&%2>R>U]& 1O& <O& 0>P>& =1& 10P>%M>B& 1O& 1?& V<1& $1& ?#"2]& J#O#J12& ?#& V<1& P1O$>R>B& d>JM>B&$1O%M>&I&=1JM>&1?&P>2%;J;P>O%1&=1&?>&0<1$%2>D&71&=1$J<R2;]&V<1&?#$& >$;$%1O%1$&A21J<1O%1$&>&$>?>$&=1&U<1"#&?>$&C;$;%>O&P#2&?<=#P>%M>B&P#2&?>& O1J1$;=>=&=1&>=21O>?;O>&#&P>2>&$#J;>?;b>2&J#O&#%2#$&U<">=#21$B&$;1O=#&?>& 01%>&P2;OJ;P>?&">O>2?1&>&?>&J>$>D&


$/2*!".

F>2>& J#O#J12& 0S$& $#R21& ?>$& J>2>J%12M$%;J>$& =1& ?#$& "<>I>V<;?1+#$B& $1& 21>?;b]&<O>&;OC1$%;">J;]O&0;_%>B&J#O&1OA#V<1&J<>?;%>%;C#&I&J<>O%;%>%;C#B& <%;?;b>O=#& d122>0;1O%>$& P>2>& ?>& 21J#?1JJ;]O& =1& =>%#$& J#0#Y& #R$12C>J;]OB&1O%21C;$%>$&>&P2#A<O=;=>=&I&1OJ<1$%>$&ZT#2U>B&'()\B&PDQ[D&& 5O&1?&P2#J1$#&=1&#R$12C>J;]O&$1&21>?;b]&<O>&P>2%;J;P>J;]O&0#=12>=>D& 9#0#& 21$<?%>=#B& $1& #R%<C#& V<1& ?>$& P12$#O>$& >J<=1O& >?& P<O%#& =1& C1O%>&=1&?>&E#%12M>&.>J;#O>?B&1O&=#O=1&?>$&P12$#O>$&J#0P2>O&-7#V*-%4 =1&U<1"#$&I&$1&1O%21%;1O1O&J#O&?>$&0SV<;O>$&1?1J%2]O;J>$D&5?&<$<>2;#& P120>O1J1&1O&1$%1&?<">2&1O%21&H(&0;O<%#$&>&<O>&d#2>D&&

15'80#!'"()!:("$0#

!P2#_;0>=>01O%1&0S$&=1?&L(~&=1&?>$&P12$#O>$&1OJ<1$%>=>$&J#O$;=12>& V<1& 1?& 0#=1?#& =1& O1"#J;#& =1& 9>$>& N?#%>O%1& @;??>& )H& 1$& >%2>J%;C#& I& O#C1=#$#B& >J1P%>O& 1?& P2#I1J%#& I& J211O& V<1& 1$%>& P2#P<1$%>& 1$& <O>& A#20>&;OO#C>=#2>B&J21>%;C>&I&=;A121O%1&=1&%<2;$0#D& 7;O&10R>2"#B&?#$&;O%1"2>O%1$&=1?&1V<;P#&>A;20>O&1O&$<$&=#J<01O%#$& =1&%;%<?>J;]O&V<1&1?&#R$%SJ<?#&P2;OJ;P>?&P>2>&1$%>R?1J12&<O&J>$;O#&A<1&1?& 0>2J#&?1">?&=1?&P>M$D&5O&5J<>=#2&%122;%#2;>?&1$%SO&P2#d;R;=#$&?#$&U<1"#$& =1&>b>2&I&?>&1_%1O$;]O&2;"1&d>$%>&?>&0;??>&)'&=1?&0>2&1J<>%#2;>O#D&F#2& 1$%>&2>b]OB&1?&P2#I1J%#&1$%>2S&$;%<>=#&1O&?>&0;??>&)HB&V<1&$1&J#O$;=12>& >"<>$&;O%12O>J;#O>?1$&J<$%#=;>=>$&P#2&5J<>=#2D&9#O&1$%>&<R;J>J;]OB&$1& P#=2S&=;$A2<%>2&?1">?01O%1&=1&1$%>$&>J%;C;=>=1$D&!=10S$B&$1&#R$12C>2SO& $d#`$& 1O& C;C#& I& ?#$& <$<>2;#$& 21J;R;2SO& <O& 1_J1?1O%1& $12C;J;#& 1O& <O& >0R;1O%1&$1"<2#D& 5?& J>$;O#& A<OJ;#O>2M>& 1O& <O& R>2J#& 0#=1?#& @7& 6;C12& 821>0B& J#O& J>P>J;=>=& P>2>& 3((& P12$#O>$B& =1& %21$& P;$#$D& 5O& 1?& P2;012& P;$#& $1& #A21J12M>& <O& S21>& =1& =1$J>O$#& P>2>& ?#$& <$<>2;#$B& 1O& 1?& $1"<O=#B& 1?& $12C;J;#&=1&J>$;O#B&J#O&01$>$&=1&P]g12B&T?>JgU>Jg&I&%2>">0#O1=>$n&I&1O& 1?&%12J12#B&1?&R>2B&21$%><2>O%1&I&1?&S21>&=1$;"O>=>&P>2>4%,5!%4Z9>$%2#B& '()\B&PD)^[D& E>& #A;J;O>& >=0;O;$%2>%;C>& 1$%>2M>& <R;J>=>& 1O& 1?& 1=;A;J;#& cd1& F#;O%B& ?#J>?;b>=#&1O&1?&F<12%#&7>O%>&!O>B&1O&:<>I>V<;?D&E>&R#?1%12M>&=1?&J>$;O#& A<OJ;#O>2M>&1O&1?&@>?1J]O&'(((B&=1$=1&=#O=1&?>$&P12$#O>$&P#=2M>O&??1">2& d>$%>&1?&R>2J#&P#2&01=;#&=1&?>OJd>$&2SP;=>$D&81&1$%1&0#=#B&1?&1$?#">O& =1?&1$%>R?1J;0;1O%#&$12M>&p5?&U<1"#&d>&21"21$>=#q&ZT#2U>B&'()\B&PD))[D& 5?&=;$1+#&V<1&$1&1$%>R?1J12M>&$1&R>$>2M>&1O&?#$&O<1C#$&J#OJ1P%#$&1O& 21?>J;]O&>&?#$&J>$;O#$D&!&P>2%;2&=1?&'()(B&pJ>0R;]&1?&J#OJ1P%#&=1&$>?>& U<1"#B&0S$&>0;">R?1B&%1Jd#$&>?%#$B&1$P>J;#$&0S$&>0P?;#$&1O%21&01$>$&I& 0SV<;O>$B&?<">21$&??1O#$&=1&?<U#$&I&0>U1$%<#$;=>=B&J#O&?<b&O>%<2>?B&<O& ?<">2&>20]O;J#&I&21?>U>=#B&?>$&0SV<;O>$&I>&O#&1$%SO&<R;J>=>$&1O&?MO1>&

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

<O>&>&?>=#&=1&#%2>B&>d#2>&$1&<R;J>O&1O&A#20>&=1&;$?>&P>2>&V<1&J>=>& <$<>2;#&P<1=>&=;$A2<%>2&<O&P#J#&=1&P2;C>J;=>=q&ZT#2U>B&'()\B&PD'\[D F>2>& ??1C>2& >& J>R#& 1?& O1"#J;#B& $1& P?>O;A;J>2M>O& >?;>Ob>$& 1$%2>%i";J>$& J#O&d#%1?1$B&#P12>=#21$&=1&%<2;$0#B&;O$%;%<J;#O1$&A;O>OJ;12>$&I&$#J;#$& =1?&j>Jd%&9?<RB&P>2>&V<1&?>$&J#0P>+M>$&01OJ;#O>=>$&P<1=>O&#A21J12& ?#$&$12C;J;#$&=1&9>$;O#&N?#%>O%1&@;??>&)H&>&$<$&J?;1O%1$D&71&=;$P#O=2M>& =1&J<>%2#&P>V<1%1$&J#O&P21J;#$&=;A121OJ;>=#$&I&C>2;#$&$12C;J;#$&P>2>& >JJ1=12&>?&J>$;O#D&E>&C;=>&/%;?&=1?&P2#I1J%#&$12M>&=1&)(&>+#$B&P#2V<1&>& P>2%;2&=1&>dM&$1&=1R12M>&J>0R;>2&1?&R>2J#&I&?>$&0SV<;O>$&%2>">0#O1=>$D& 7#O& 0/?%;P?1$& ?>$& #P#2%<O;=>=1$& V<1& #A21J12M>& ?>& 21>?;b>J;]O& =1?& P2#I1J%#&9>$;O#&N?#%>O%1&@;??>&)HB&I>&V<1&1_;$%1&<O&012J>=#&?>%1O%1& =1& U<">=#21$& $;O& #PJ;#O1$& >J%<>?1$D& E>& 1_P12;1OJ;>& V<1& $1& C;C;2M>& $12M>& 0S$& >??S& =1& ?#$& J>$;O#$& %2>=;J;#O>?1$& >O%1$& J#O#J;=#$B& P#2V<1& $1&J#0R;O>2M>&1?&1O%#2O#&=1O%2#&=1&<O>&10R>2J>J;]O&J#O&?#$&U<1"#$& =1&>b>2&IB&>=10S$B&?>&<R;J>J;]O&?1">?&R2;O=>&0>I#2&$1"<2;=>=&P>2>&1?& J?;1O%1&I&1?&O1"#J;#D ,KUKHKIGQ8: T#2U>&9]2=#C>B&8D&Z'()\[D&?%-+)754)*4.2$(4)*45.*'$#75(*%4)*2495)*254)*4 (*&5#75%4lB$%7(54P25-$(-*4@722$4`dm&Zc2>R>U#&=1&"2>=#[D&4O;C12$;=>=& 9>$>&:2>O=1B&:<>I>V<;?B&5J<>=#2 9>$%2#&!O%1B&FD&@D&Z'()\[D4?%-+)754)*4.2$(4)*45.*'$#75(*%4)*2495)*254)*4 (*&5#75%4lB$%7(54P25-$(-*4@722$4`dm4Zc2>R>U#&=1&"2>=#[D&4O;C12$;=>=& 9>$>&:2>O=1B&:<>I>V<;?B&5J<>=#2

6HW>(JFS(?EIQF@BI }&7<?11O&8M>b&9d2;$%;>O$1O&

$GHA?I }&8;>O>&T#2U>& }&-C#OO1&=1&E#<2=1$&421%> }&F>01?>&9>$%2#& }&l$J>2&a;??

$:4/MN-2..,/#:4:*)-

"*+4)9,5:;/7P=>E=<>7@/A/BC4:D,5:;/<8=>J=<>7@/0/o:9:;/$,R)-,/#,.+4:/0/%-N.+4,S2T*;/F4))C2k

('


()*+,*,-)./0/BI:/(%%%/':7E

$ / 2 * ! " . ((

*',0)'.,0."03'&!'#.<=>?

!/%-,/'*.%,)1'

!"#$%&%'$()*&+ CD*LQDC@

E?1">2&>&?>&;=1>&O#&A<1&%>O&=;AMJ;?B&P<1$&%21$&=1&?#$&J<>%2#&;O%1"2>O%1$& =1?&1V<;P#&J#O#JM>O&$#R21&1?&012J>=#&=120>%#?]";J#&Im#&J#$0i%;J#& 1O&"2>O&01=;=>B&P#2&$12&<$<>2;#$&=1&P2#=<J%#$&=1&1$%1&%;P#&IB&1O&1?& J>$#&=1&e#2"1&6#U>$B&P#2&=1$10P1+>2$1&?>R#2>?01O%1&1O&1$%1&J>0P#D& 5?&1V<;P#&=1$J<R2;]&V<1B&>&P1$>2&=1&?>&1_;$%1OJ;>&=1&C>2;>$&0>2J>$&1O&1?& 012J>=#B&O<OJ>&1OJ<1O%2>$&$<$&>2%MJ<?#$&1O&<O&0;$0#&$;%;#D

)EFLFDB>TIL( HD( EFLHTFD( JF( S>( ?EI?HFLB>( JF( ?EIBIBA?I( @EF>JI( ?IE( HD( FGHA?I( JF( XE>JH>JIL( JFS( 1IJFSI( JF( 'FXI@AIL( ?>E>( ?EIYFLAID>SAN>DBFL( JF( S>( *DAKFELAJ>J( %>L>( 6E>DJF( Z*%6[( FD( FS( \]^_d( /H( BE>M>UI( JF( BABHS>@ACD( @IDLALBAC( FD( FS( JALFVI( JF( HD>( BAFDJ>( ./01/)( GHF( IYFEB>EW>( HD>( K>EAFJ>J( JF( ?EIJH@BIL( Fe@SHLAKIL( ?>E>( FS( @HAJ>JI( JF( S>( ?AFS3( >( BE>KcL( JF( HD>( ?S>B>YIET>( JAXAB>S3( @ID( HD( LFEKA@AI( ?FELID>SAN>JI(Q(FDBEFX>L(>(JITA@ASAId

8<2>O%1&?#$&$;"<;1O%1$&%21$&01$1$&;OC1$%;">2#O&J]0#&d>J12?#D&8<2>O%1& ?>& 1%>P>& =1& ;OC1$%;">J;]O& $1& >P?;J]& 1?& P2#J1$#& =1& N*%7&(4 J,7(V7(&64 10P?1>O=#& %i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d#& %;P#& =1& P2#=<J%#$B& >& %2>Ci$& =1& <O>& P?>%>A#20>& =;";%>?& 1O& C12$;]O& =1& >P?;J>J;]O&0]C;?&I&$;%;#&`1RD&E<1"#B&$1&21>?;b]&<O>&P2;012>&P2#P<1$%>& =1?& P2#%#%;P#& ZP?>%>A#20>[& I& $1& P2#J1=;]& >& 1C>?<>2& $<& >J1P%>J;]O& I& A>J;?;=>=&=1&O>C1">J;]OB&>&%2>Ci$&=1&<O&"2<P#&A#J>?&;O%1"2>=#&P#2&$;1%1& 0<U121$B&V<;1O1$&21J#01O=>2#O&J;12%#$&J>0R;#$&1&;0P?101O%>J;#O1$D !$M& 0;$0#B& 01=;>O%1& 1?& 0;$0#& "2<P#& A#J>?& %>0R;iO& $1& 21>?;b]& <O>& ;OC1$%;">J;]O& =1& 012J>=#B& J#O& %iJO;J>$& J<>?;%>%;C>$& I& J<>O%;%>%;C>$B&

15'80#!'"()!:("$0#

5O%#OJ1$B& J#OJ#2=>2#O& V<1& =1R12M>& d>R12& <O& 0;$0#& ?<">2& =#O=1& P<=;12>O&J#OJ1O%2>2$1&%#=#$&1$#$&P2#=<J%#$&J<%SO1#$B&><OV<1&d>I>& V<1&P>">2&<O&C>?#2&>=;J;#O>?&P#2&1?&$12C;J;#D


"##

$/2*!".

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

P>2>& ;=1O%;A;J>2& ?#$& %;P#$& =1& P2#=<J%#$& V<1& 1??>$& <%;?;b>OB& =]O=1& J#0P2>OB& >& %2>Ci$& =1& V<i& P12$#O>$& #& P2#A1$;#O>?1$& 1O& ?>& 0>%12;>& =1$1>2M>O&21J;R;2&21J#01O=>J;#O1$&P>2>&1?&J<;=>=#&=1&$<&P;1?&I&P#2& V<i&CM>$&=1&J#0<O;J>J;]O&%2>=;J;#O>?1$&I&O#&%2>=;J;#O>?1$&=1$1>2M>O& ;OA#20>2$1&>?&21$P1J%#D&

P?>%>A#20>&$;&?>$&21J#01O=>J;#O1$&=1&?#$&>2%MJ<?#$&P2#C;O;12>O& =1&<O>&P12$#O>&;OA?<I1O%1&1O&1?&012J>=#&Z6#U>$B&'()\B&PD'3[D MH4RLK:;8

81&1$%1&0#=#B&$1&J#OJ21%>&1?&P2#%#%;P#B&V<1&$1&=1$%>J>2M>&P#2& $12&<O>&%;1O=>&5(27(*&V<1&=;$P#O=2M>&=1&0>2J>$&1_J?<$;C>$&P>2>& 1?& J<;=>=#& =1& ?>& P;1?B& J#O& $<$& ?MO1>$& J#0P?1%>$& =1& P2#=<J%#$B& P>2>&V<1&1O&<O>&$#?>&C;$;%>&$1&1OJ<1O%21&?#$&>2%MJ<?#$&=1$1>=#$B& =1&A#20>&2SP;=>&I&1A1J%;C>B&J#O&1O%21">$&>&=#0;J;?;#&P<O%<>?1$D& l%2#& P<O%#& =1& ;OO#C>J;]O& $12M>& ?>& 1_P12;1OJ;>& =1?& $12C;J;#Y& c2>$&1$%>&;OC1$%;">J;]OB&1?&1V<;P#&1OJ#O%2]&V<1B&$1"/O&5<2#0#O;%#2& J#O%1O;=#& >U<$%>=#& >?& J>$#& J<%SO1#& 1$P1JMA;J#& =1& ?>& <$<>2;>B& -O%12O>%;#O>?& ZJ#0#& $1& J;%]& 1O& :>2JM>B& '()\[& p1O& ?>& ;OA#20>J;]O& %2;01$%2>?& P>2>& J#0P2>& =1& P2#=<J%#$& >J%<>?;=>=B& 1?& 012J>=#& =1& J<;=>=#& =1& ?>& P;1?& J>=>& =1& <$#& A21J<1O%1B& O#%;A;J>J;]O& P>2>& 21O#C>J;]OB& C1b& %;1O1& 0S$& A<12b>B& 1_;$%1& <O& J21J;0;1O%#& >O<>?& $12C;J;#&P#$%&J#0P2>B&>$1$#2M>$&1O&?MO1>&I&$12C;J;#& p5?&@#=1?#&=1&.1"#J;#$& =1&)BQ~B&I&$1&P2#O#$%;J>&1?&0;$0#&J21J;0;1O%#&d>$%>& =1&J#O$<?%>$&=120>%#?]";J>$D 01&>I<=]&>&C12&V<1&?#$& 1?& '(''q& ZPD)\[D& F#2& #%2#& ?>=#B& =1& ?>& 0<1$%2>& =1?& P>$#$&1$%2>%i";J#$&P>2>& 1$%<=;#& V<1& 21>?;b>2#OB& J#OA#20>=>& 1O& $<& 0>I#2M>& ,KUKHKIGQ8: <O>&;0P?101O%>J;]O& P#2&0<U121$&=1&d>$%>&L(&>+#$B&$#R21$>?1&V<1&p1?&\L~& C>O&1O"2>O>O=#&I& =1& 1??>$& 01OJ;#O>& V<1& 1$%>& P2SJ%;J>& z1?& J<;=>=#& =1& =>O=#&21$P<1$%>$&>&?>$& :>2JM>& 9#O%212>$B& eD& 9D& Z'()\[D& L(<27%7%4 =4 *%-'$-*&7$4 ?>&P;1?|&1$&=1&$<0>&;0P#2%>OJ;>&=1O%2#&=1&$<&2<%;O>q& ;O%122#">O%1$&;O;J;>?1$n& )*4 9$'V*-7(&4 )*24 95)*254 )*4 (*&5#75%4 >=10S$&P120;%1O&21>?;b>2& Z6#U>$B& '()\B& PD'3[D& 5$%#& ?1$& P120;%;]& J#OA;20>2& 1?& lN*'95>5+-7O+*m4Zc2>R>U#&=1&"2>=#[D&4O;C12$;=>=& ?#$&J>0R;#$&O1J1$>2;#$& P#%1OJ;>?&=1&$<&P2#P<1$%>D 9>$>&:2>O=1B&:<>I>V<;?B&5J<>=#2 $1"/O&?>$&01%>$&V<1&C>I>$& ?#"2>O=#q&Ñ&!?1_>O=2>& !?C>2>=#D

5O%21& #%2#$& 21$<?%>=#$& 21?1C>O%1$& =1$%>J>0#$& V<1& ?>$& 0<U121$& 21J;R1O& 21J#01O=>J;#O1$& $#R21& 1?& J<;=>=#&=1&$<&P;1?&P2;OJ;P>?01O%1&=1&<O&1$P1J;>?;$%>& IB& 1O& $1"<O=#& ?<">2B& =1& P>2%1& =1& $<$& 0>=21$& =1$=1& %10P2>O>&1=>=D&!=10S$B&$1&;OA#20>O&$#R21&J<S?1$&$#O&?#$&P2#=<J%#$& >=1J<>=#$&P>2>&<$>2&01=;>O%1&<O&P2#A1$;#O>?&=1&?>&$>?<=B&>&%2>Ci$& =1& <O>& J#O$<?%>& =120>%#?]";J>& #& C;$;%>& >& J#$0;>%2>& Z6#U>$B& '()\B& PD'H[D&-O%12O1%&1$&%>0R;iO&<O#&=1&?#$&01=;#$&0S$&<%;?;b>=#$&P>2>& ;OA#20>2$1B&I>&$1>&>&%2>Ci$&=1&7(82+*(#*'%&1O&-O$%>"2>0B&CM=1#$&1O& j#<c<R1&#&P<R?;J;=>=1$&1O&N>J1R##gD 9#O& 21$P1J%#& >& >?"<O#$& dSR;%#$& =1& J#0P2>B& $1& 1OJ#O%2]& V<1& ?#$& P2#=<J%#$&$1&>=V<;121O&0>I#201O%1&>&%2>Ci$&=1&A>20>J;>$&I&%;1O=>$& J#$0i%;J>$D&E#$&J#O$<0#$&$1&21>?;b>O&%2;01$%2>?01O%1B&I&$1&">$%>O& 47áH((&#&01O#$&1O&?>&J#0P2>D& 9>R1&01OJ;#O>2&V<1&?>$&0<U121$&P>2%;J;P>O%1$&1O&?>&;OC1$%;">J;]O& 0#$%2>2#O&<O>&"2>O&>J1P%>J;]O&P#2&?>&P?>%>A#20>B&=1R;=#&>?&>d#22#& =1&%;10P#D&!J#%>2#O&V<1&$1&"1O12>2M>&<O>&0>I#2&J#OA;>Ob>&1O&?>&

6#U>$&E##2B&eD&Z'()\[D&?%-+)754)*4.2$(4)*45.*'$#75(*%4 )*24 95)*254 )*4 (*&5#75%4 lN*'95>5+-7O+*m4 Zc2>R>U#& =1& "2>=#[D& 4O;C12$;=>=& 9>$>& :2>O=1B& :<>I>V<;?B&5J<>=#2

6HW>(JFS(?EIQF@BI }&!OO>R1??1&N;"<12#>

$GHA?I }&e#2"1&6#U>$ }&ei$$;J>&:>2JM> }&@>D&c121$>&,;=>? }&!?1_>O=2>&!?C>2>=# }&F>#?#&c#221$ }&l$J>2&a;??

(QWUHJDGR $SUREDGR /RJR FRUWHVtD GH $OH[DQGUD $OYDUDGR

F#2& #%2#& ?>=#B& %>0R;iO& $1& =1A;O;]& ?>& ;0P#2%>OJ;>& =1?& J<;=>=#& =1& ?>& P;1?&P>2>&<O>&0<U12B&P2#=<J%#$&=1&P21A121OJ;>&I&$<&A21J<1OJ;>&=1&<$#n& $;& 21>?;b>O& #& O#& J#0P2>$& 5(27(*& I& ?>& J#O%;O<;=>=& =1& J#O$<0#& 1O& ?>$& P?>%>A#20>$&P21=;?1J%>$n&1?&P21$<P<1$%#&V<1&=1$;"O>O&P>2>&1$%#$&">$%#$B& $1"/O&?>&1=>=&=1?&J?;1O%1n&I&$1&??1C]&>&J>R#&<O&>OS?;$;$&=1&?>&J#0P1%1OJ;>D


$ / 2 * ! " . "#"

()*+,*,-)./0/BI:/(%%%/':7E

1 ( 1 . < = > ?

$4(5#+ (+'&#'(1*#+ !#&#.("(5#& (".!"#$%&.)( !'(!"%)$%&.)(.#!&($)#6%+ 5?& ;0P<?$#& =1& ?>& 0>2J>& !P21O=>0#$B& >& %2>Ci$& =1& <O& O<1C#& =;$1+#B& R<$J>& ;0P>J%>2& P#$;%;C>01O%1& 1O& ?>& $#J;1=>=& 1J<>%#2;>O>& I& >$M& =1$P12%>2& 1?& ;O%12i$B& P>2>& 1?1C>2& 1?& '$-7(&4 =1?& P2#"2>0>B& V<1& $1& J21]& 1O& 1?& '((H& I& $1& J#OC;2%;]&1O&<O>&;=1>&1_;%#$>&V<1&?#"2]&>?%#$& P;J#$&=1&'$-7(&&1O&5J<>C;$>&I&c9D 7;O& 10R>2"#B& 1O& 1?& '()HB& ?>& O<1C>& E1I& =1& 9#0<O;J>J;]O&1$%>R?1J;]&1O&1?&>2%MJ<?#&^3&V<1& ?#$& 01=;#$& =1RM>O& >$;"O>2& #R?;">%#2;>01O%1& <O>& d#2>& =;>2;>& >& P2#"2>0>$& =1& 1=<J>J;]OB& J<?%<2>&I&$>?<=D&!$M&O>J1&p5=<J>qB&V<1&%1OM>&1$>$& J>2>J%12M$%;J>$&I&1?&>C>?&=1&?>$&;O$%;%<J;#O1$&=1& "#R;12O#D& !<OV<1& !P21O=>0#$& 0>O1U>& <O>& $D( FS( \]^_3( JIL( FGHA?IL( JF( FLBHJA>DBFL( JF( S>( *DAJ>J( JF( )EIYFLAID>SAN>DBFL( JF( S>( *DAKFELAJ>J(%>L>(6E>DJF(Z*%6[( ?EFLFDB>EID( ?EI?HFLB>L( ?>E>( TFUIE>E(FS%2341/5(JFS(?EIXE>T>( FJH@>BAKI( -?EFDJ>TILd( $S( ?EATFEI( EF>SANC( HD( BE>M>UI( JF( 2)623/(1/5( Q( FS( LFXHDJI( @EFC( HD>(XHW>(BABHS>J>(7162.%603/8.9

=;OS0;J>&=;$%;O%>B&$1&C;#&>A1J%>=#&I&$<&d#2>2;#& J>0R;]D& !d#2>& 1$& %2>O$0;%;=#& ?#$& $SR>=#$& I& =#0;O"#$&>&?>$&(^d((B&I&=1&?<O1$&>&C;12O1$&1$& '*.'7%$)5&1O&?>&0>=2<">=>D F#2& 1??#B& ?#$& P2#A1$;#O>?;b>O%1$& =1& ?>& 49:& <$>2#O&21J<2$#$&J#0#&1O%21C;$%>$B&"2<P#&A#J>?& I&1OJ<1$%>$B&P>2>&pJ#O#J12&?>&21>?;=>=&>J%<>?& J#O&21?>J;]O&>?&21J#O#J;0;1O%#q&P#2&P>2%1&=1& ?#$& "<>I>V<;?1+#$& d>J;>& !P21O=>0#$& Z@>%>B& '()\B&PD3[D&!=10S$B&$1&>O>?;b]&1?&J#O%1O;=#&=1?& P2#"2>0>&=<2>O%1&?#$&)L&>+#$&=1&$<&10;$;]OB& P>2>& J21>2& <O>& 1$%2>%1";>& =1& >'$()7(&"& 5$%#& ;0P?;J>R>& <O>& "1$%;]O& ;O%1?;"1O%1& I& J21>%;C>B& J<I#$& 1?101O%#$& P2#01%;12>O& <O>& 0>2J>& =;$%;O%;C>B&21?1C>O%1B&J#0P?1%>&I&$#$%1O;R?1&1O& 1?&%;10P#D 71& ?#"2]& ;=1O%;A;J>2& V<1& >?& P>$>2& ?#$& >+#$& 1?& P2#"2>0>& O#& d>RM>& >=>P%>=#& $<& ?#"#& >?& A#20>%#& >J%<>?& =1& ?#$& %9$'-.,5(*%& I& $<& %;P#"2>AM>&O#&12>&?1";R?1&Z@>%>B&'()\B&PD\[D&F#2& 1$#B&1?&"2<P#&P2#P<$#&?>&21J#OJ1P%<>?;b>J;]O& =1?& ?#"#%;P#B& >J%<>?;b>J;]O& =1& %;P#"2>AM>$B& J2#0S%;J>& I& 1$?#">OD& c>0R;iO& ;OJ?<I12#O& p>O;0>J;#O1$&P>2>&>'$()7(&&=1&P>O%>??>&z{|qB& P>2>& A>J;?;%>2& p?>& ;=1O%;=>=& =1& ?>& 0>2J>& 1O& A<%<2#$&P2#"2>0>$q&Z!J#$%>B&'()\B&PD))[D

5?&1V<;P#&1OJ#O%2]&V<1&?>&1$%21??>&=1?&?#"#&=1& !P21O=>0#$& %1OM>& 21?>J;]O& J#O& :<>I>V<;?B& I&>&P>2%;2&=1&>??M&$1&21P1O$]&1?&O<1C#&=;$1+#D& 71& R<$J]& p=>2?1& <O& O<1C#& $;"O;A;J>=#& >& ?>& 1$%21??>& I& J#OC12%;2?>& 1O& <O& 0#?;O1%1& =1& C;1O%#&V<1&A#20>&?>&1$%21??>&1O&1?&J1O%2#&=1&$<& ;0>"1Oq&Z!J#$%>B&'()\B&PD)^[D&921>2&<O&O<1C#& 1$?#">O&A<1&#%2#&21%#B&P12#&A;O>?01O%1&$<2";]& p5=<J>J;]O& P>2>& $<P12>2O#$qB& V<1& ;OJ?<I1& ?>& ;=1>& 0S$& ;0P#2%>O%1& =1& !P21O=>0#$B& 1?& >JJ1$#&>&?>&1=<J>J;]OD 5=`;O&9>$%2#B&<O#&=1&?#$&><%#21$&=1?&P2#I1J%#B& J#01O%]&V<1&$<&"2<P#&V<1=]&0<I&$>%;$A1Jd#B&I>& V<1&?>&P2#P<1$%>&A<1&>J1P%>=>&P#2&?#$&P2;OJ;P>?1$& 0;10R2#$&=1&?>&0>2J>&I&1$&0<I&P2#R>R?1&V<1&?>& 10P?11O&1O&?>&O<1C>&%10P#2>=>D BLX8:%JKO%M0M }& @"%2D&5O2;V<1&6#U>$&7SOJd1b }& EJ=>D&-?#O>&,>??>2;O# -dLQR4 }& }& }& }& }&

T1%%I&@>%> 5=0<O=#&!J#$%>&& 5?;b>R1%d&e1%]O 5=`;O&9>$%2# e#2"1&F>21=1$


$/2*!".

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

-dLQR4

*$(!+,(*"%-+

}& }& }& }& }&

15'80#!'"()!:("$0#

5$%>& ;=1>& $<2";]& J#O& 1?& A;O& =1& V<1& ?>& 0>2J>& %1O">& <O& $;$%10>& $]?;=#& =1& J#0<O;J>J;]O& 1A;J>b&I&V<1&;OJ2101O%1&1?&'$-7(&&=1?&P2#"2>0>D& E7>'54 >2$(#5& 1$& <O& 0>O<>?& V<1& >I<=>& >& ?>& %#0>&=1&=1J;$;#O1$D&E>$&S21>$&V<1&$1&R<$J>2#O& P#%1OJ;>2&A<12#OY&J#0<O;J>J;]OB&9$'V*-7(&&I& 21?>J;#O1$&P/R?;J>$D 8<2>O%1& ?>& ;OC1$%;">J;]O& $1& 21>?;b>2#O& 1O%21C;$%>$& >& ?#$& P2;OJ;P>?1$& >J%#21$& =1& N<O=>J;]O& 5J<>=#2)B& >& ?>& U1A>& =1& 9$'V*-7(&4 =1&?>&8;21JJ;]O&=1&!JJ;]O&7#J;>?&I&5=<J>J;]OB& >& =;21J%;C#$& =1& 01=;#$& =1& J#0<O;J>J;]O& I& =1& P2#=<J%#2>$& ZjiP1bB& '()\B& PD')[B& J#O& 1?& A;O&=1&J#O#J12&?>$&S21>$&I&P2#J1$#$&;O%12O#$& 1O& ?>& =;A<$;]O& I& P2#0#J;]O& =1?& P2#I1J%#& !P21O=>0#$& ZPD'3[D& 5O& 1$%1& %;10P#& $1& ;=1O%;A;J]& V<1& O#& 1_;$%M>& <O& $1"<;0;1O%#& P>2>& $>R12& $;& ?#$& J>O>?1$& 21J;RM>O& ?#$& %.5-%4 P2#0#J;#O>?1$B& I& $1& 1C;=1OJ;]& ?>& A>?%>& =1& J#0<O;J>J;]O&=1&?>&0>2J>D 71& =1$J<R2;]& V<1& 1?& '$-7(&& =1& c9& c1?1C;$;]O& 12>&=1&(D\&d>$%>&)D3&ZK>?;?B&'()\B&PD3[D&:21J;>& 7>?"<12#B& 7<R"121O%1& =1& F2#"2>0>J;]O& =1& c9B&;O=;J]&V<1&=1R;=#&>&V<1&!P21O=>0#$&O#& %;1O1&'$-7(&6&?#&J>0R;>O&=1&d#2>2;#B&P>2>&O#& >A1J%>2&1?&'$-7(&&"1O12>?&ZPD3[D E7>'54 >2$(#5& $1& R>$]& 1O& ?>& ;OA#20>J;]O& 21J#P;?>=>& 1O& 1O%21C;$%>$& I& R;R?;#"2>AM>B& ?#& V<1& ?1$& P120;%;]& 1O%21">2& $<"121OJ;>$& V<1& 01U#2>2SO& ?#$& P2#J1$#$& ;O%12O#$& =1& ?>& 0>2J>D&E>&A;O>?;=>=&1$&V<1&1?&01O$>U1&??1"<1& >=1J<>=>01O%1&>?&<$<>2;#&>J%<>?&I&P#%1OJ;>?B& 1O&1?&0#01O%#&J#221J%#B&J#0#&21$<?%>=#&=1& <O>&1$%2>%1";>&P?>O;A;J>=>&I&#2=1O>=>B&A2<%#& =1?& %2>R>U#& ;O%12O#& =1& V<;1O1$& J#OA#20>O& !P21O=>0#$&ZjiP1bB&'()\B&PD)L[D

e<?;1&y#d? 9d2;$%;>0&K>?;? 8;1"#&F>b0;+# Ä?C>2#&N21;21 F>%2;J;#&jiP1b

,KUKHKIGQ8: !J#$%>B& 5D& Z'()\[D& K7%-*9$-7I$#7:(4 )*4 2$4 *^.*'7*(#7$4 )*4 2$4 #5(#*.-+$27I$#7:(4 *4 79.2*9*(-$#7:(4 )*4 2$4 7)*(-7)$)4 &'<87#$4 )*24 .'5&'$9$4 L.'*()$95%4 *(4 *24 _c`k& Zc2>R>U#& =1& "2>=#[D& 4O;C12$;=>=& 9>$>& :2>O=1B&:<>I>V<;?B&5J<>=#2 81O%2#&=1?&0>O<>?&$1&P?>O%1>2#O&>J%;C;=>=1$B& J#0#& >JJ;#O1$& V<1& J#O%2>221$%>2M>O& ?#$& P2#R?10>$&>J%<>?1$&=1&?>&0>2J>&!P21O=>0#$D& E>& "<M>& P2#P#O1& V<1& 1$& 1$1OJ;>?& C12;A;J>2& V<1& ?#$& C;=1#$& =1& P2#0#J;]O& =1?& P2#"2>0>& $1>O& 21J;R;=#$& I& 10;%;=#$& 1O& %1?1C;$;]On& %>0R;iO&?>&21>?;b>J;]O&=1&U<O%>$&V<;OJ1O>?1$B& J#O& 1?& A;O& =1& >O>?;b>2& O<1C>$& P2#P<1$%>$& I& $#?<J;#O>2& ;O%122#">O%1$D& 71& $<";121& V<1& 1?& 81P>2%>01O%#& =1& 9#0<O;J>J;]O& 1$%i& J#OA#20>=#& P#2& <O& =;21J%#2B& J##2=;O>=#2& I& >$;$%1O%1B&P>2>&J##2=;O>2&%#=#&R>U#&?>&0;$0>& 1$%2<J%<2>&ZK>?;?B&'()\B&PD)'[D 5?&1V<;P#&21$>?%>&V<1B&P>2>&1?1C>2&?#$&O;C1?1$& =1&><=;1OJ;>B&1$&O1J1$>2;#&21>?;b>2&J>0P>+>$& =1&P2#0#J;]O&=1?&P2#"2>0>&I&J#O%2>%>2&<O>& >"1OJ;>&=1&P<R?;J;=>=D&71&=1R1&21J#2=>2&V<1& !P21O=>0#$&>I<=>&>&P12$#O>$&V<1&O#&%;1O1O& 21J<2$#$& P>2>& 21J;R;2& 1=<J>J;]O& I& 1$& <O& $12C;J;#&=;21J%#&>&?>&J#0<O;=>=D

@>%>B& TD& Z'()\[D& N7$&(:%-7#54 )*24 3'5&'$9$4 L.'*()$95%4 >$%$)54 *(4 *24 A$-7(&4 357(-4 .$'$4#5(%7)*'$'4*(4*24A*>'$()7(&&Zc2>R>U#& =1&"2>=#[D&4O;C12$;=>=&9>$>&:2>O=1B& :<>I>V<;?B&5J<>=#2 K>?;?B& 9D& Z'()\[D& K7%-*9$-7I$#7:(4 )*24 .'5#*%54 )*4 .'5)+##7:(4 )*24 E7>'54 Q2$(#54 #5954 &+;$4 )*4 #59+(7#$#7:(4 .$'$4 .'*(%$4 )*24 .'5=*#-54lL.'*()$95%m4Zc2>R>U#&=1&"2>=#[D 4O;C12$;=>=&9>$>&:2>O=1B&:<>I>V<;?B&5J<>=#2 jiP1bB& 6D& Z'()\[D& K7%-*9$-7I$#7:(4 )*4 2$4 *^.*'7*(#7$4 )*4 #5(#*.-+$27I$#7:(4 )*4 2$4 *%-'$-*&7$4 )*4 %5#7$27I$#7:(4 )*24 .'5=*#-54 )*24 E7>'54 Q2$(#54 .$'$4 L.'*()$95%4 #5(4 25%4)7%-7(-5%4$#-5'*%4O+*47(-*'17*(*(4*(4*24 .'5&'$9$4Zc2>R>U#&=1&"2>=#[D&4O;C12$;=>=& 9>$>&:2>O=1B&:<>I>V<;?B&5J<>=#2 &-O$%;%<J;]O&$;O&A;O1$&=1&?<J2#&V<1&1U1J<%>&1?&P2#"2>0>& !P21O=>0#$D

)

BLX8:%JKO%M0M }& @"%2D&e;01O>&T>R2>&:;?R12% }& @"%2D&!OI1?;O>&,1?#b&a12212>

$:4/MN-2..,/#:4:*)-

"*+4)9,5:;/<<=>7=<>7@/A/BC4:D,5:;/<<=>J=<>7@/0/%R^9)*).;/S:4+).K,/5)/"5e2*/#,.+4:/Y/Q2)9:/$,LR2I:

"#)


Carrera de Periodismo

SALA DE MEDIOS

(7898:;.<= 1>?@8:;.>78@AB8CDE. 6F@BG./CBDA?.1CD>98A /AAB78;C7AB.7>.DC.9CBB>BC.7>. !>B8A78?HA.>;.DC.4/1G

7>8


/-,-(!$(1$!"./ 0 , ! $ ' 5 ! ( )

) $ " & ( ' & # !"#$% ( " . , %$#*+$

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

-O%122#">=#&J#0#&%1$%;"#&=1&?>&N;$J>?M>&=<2>O%1&1?&P2#J1$#B&<O#&=1&?#$& P#?;JM>$&J#OA1$]&d>R12&1O%21">=#&?#$&=#J<01O%#$&P>2>&;OJ<?P>2?#$D !?&0#01O%#&=1&$<&>221$%#B&y>&E#O1&I&KI>`&7#1&l#&=#J<01O%>R>O& <O>& 0>%>Ob>& =1& )(& d#0R21$& 2#d;O"I>B& $<J1=;=>& 1O& ?>& >?=1>& =1& -OO& 8;OB&1O&P?1O>&J>0P>+>&=1&P12$1J<J;]O&=1?&1Ui2J;%#&J#O%2>&?>&0;O#2M>& 0<$<?0>O>D& 4O>& #A1O$;C>& $;O& P21J1=1O%1B& J>?;A;J>=>& =1& ;O%1O%#& =1& "1O#J;=;#&P#2&?>&l.4D F1$1&>&?>$&>01O>b>$B&%#=>&1$%>&d;$%#2;>&A<1&P<R?;J>=>B&P2#P;J;>O=#&=1& A#20>&;Oi=;%>&V<1&<O&%2;R<O>?&R;20>O#&J#O=1O>2>&>&)(&>+#$&=1&JS2J1?& >&$;1%1&$#?=>=#$&P#2&?>&0>$>J21D !O%1& 1$%#B& 1?& J#0;%i& =1?& F210;#& F<?;%b12B& 1?& Ã $J>2& =1?& F12;#=;$0#B& 21J#O#J;]& J#O& 1?& ">?>2=]O& >& ?#$& P12;#=;$%>$B& =10#$%2>O=#& >$M& >& ?>& $#J;1=>=&k<O>&C1b&0S$k&V<1&1?&%2>R>U#&=1&?>&P21O$>&$;"<1&0S$&C;"1O%1& V<1&O<OJ>B&J#O&1?&A;O&=1&>P#2%>2&>?&1$J?>21J;0;1O%#&=1&?#$&d1Jd#$&P>2>& ?>&J#O$%2<JJ;]O&=1&U<$%;J;>D

5$& 0<I& P2#R>R?1& V<1& >?& 01OJ;#O>2& >& y>& E#O1& I& KI>`& 7#1& l#B& ?>& 0>I#2M>& =1& ?1J%#21$& =1& 1$%1& >2%MJ<?#& O#& ;=1O%;A;V<1O& >& V<;iO1$& 01& 21A;12#D&!<OV<1&$<$&O#0R21$&P>$1O&=1$>P12J;R;=#$&P>2>&0<Jd#$B&O#& $12S& >$M& P>2>& ?>& J#0<O;=>=& P12;#=M$%;J>D& F21J;$>01O%1B& $1& %2>%>& =1& ?#$& J#0<O;J>=#21$& =1& ?>& >"1OJ;>& =1& O#%;J;>$& 61<%12$B& V<1B& 1O& 0>I#& P>$>=#B&A<12#O&?;R12>=#$&%2>$&L((&=M>$&1O&P2;$;]OD E#$& J#0<O;J>=#21$& 21>?;b>2#O& <O>& ;OC1$%;">J;]O& $#R21& ?>$& 0>%>Ob>$& >&?>&0;O#2M>&0<$<?0>O>&2#d;O"I>B&1O&@I>O0>2D&F#2&1$#B&1$%1&P>M$&?#$& >J<$]& =1& C<?O12>2& ?>& E1I& =1& 71J21%#$& lA;J;>?1$B& I& ?<1"#& ?#$& J#O=1O]& >& $;1%1& >+#$& =1& JS2J1?D& a>RM>O& P12=;=#& %#=#$& ?#$& 21J<2$#$& ?1">?1$B& ;OJ?<I1O=#&1?&/?%;0#&P21$1O%>=#&>O%1&1?&c2;R<O>?&7<P210#B&V<1&%>0R;iO& A>??]&1O&$<&J#O%2>D&4O&;O=<?%#&P21$;=1OJ;>?&12>&$<&/?%;0>&#PJ;]O&I&P#2& 1$>&CM>&J#O$;"<;12#O&?>&>Od1?>=>&?;R12%>=D 71"/O&01=;#$&=1&P21O$>B&y>&E#O1B&=1&HH&>+#$B&I&KI>`&7#1&l#B&=1&'\B& #2;<O=#$&=1&@I>O0>2B&A<12#O&=1%1O;=#$&?>&O#Jd1&=1?&)'&=1&=;J;10R21& =1&'()^B&%2>$&21<O;2$1&1O&<O&21$%><2>O%1&=1&6>O"/OB&?>&0>I#2&J;<=>=& =1&@I>O0>2B&J#O&=#$&P#?;JM>$&R;20>O#$B&V<;1O1$B&$1"/O&?#$&P12;#=;$%>$B& ?1$&1O%21">2#O&=#J<01O%#$&$<P<1$%>01O%1&$1J21%#$D 81$P<i$& =1& =;Jd#& 1OJ<1O%2#B& J#O$;=12>=#& <O>& %2>0P>& P#2& $<$& >R#">=#$B&V<1=>2#O&=1%1O;=#$&R>U#&1?&P21%1_%#&=1&V<1&?>&;OA#20>J;]O& V<1& =;$P#OM>O& 12>& J#OA;=1OJ;>?& I& C;#?>R>& ?>& 01OJ;#O>=>& ?1IB& V<1& $1& 210#O%>&>&?>&iP#J>&J#?#O;>?&R2;%SO;J>D

E#$& P12;#=;$%>$& y>& E#O1& I& KI>`& 7#1& l#B& & >221$%>=#$& P#2& $<& ;OC1$%;">J;]O& $#R21& ?>& 0>$>J21&=1&-OO&8;OD&

$:4/#,4-:./6,-)S2:/i,R,*2)9: F12;#=;$%>& I& J#0<O;J>=#2& J#O& )*& >+#$& =1& %2>I1J%#2;>D& @>"M$%12& 1O& 8;21JJ;]O& =1& 50P21$>$& =1& 712C;J;#$& =1& ?>& 4O;C12$;=>=& 5$PM2;%<& 7>O%#D& 8;21J%#2& =1& ?>& !"1OJ;>& =1& 9#0<O;J>J;]O& !Ec-47& I& 9##2=;O>=#2& =1& ?>& J>2212>& =1& F12;#=;$0#&=1&?>&4O;C12$;=>=&9>$>&:2>O=1&Z49:[D

"*+4)9,5:;/87=>J=<>7@/A/BC4:D,5:;/>P=>?=<>7@/0/F:+:;/F4:*+2)4/GY,*R,4/0/%-N.+4,S2T*;/F,D42LL2:/oTC)L

"#$


()*+,*,-)./0/BI:/(%%%/':7E

/ - , - ( ! $ ( 1 $ ! " . / "#%

!FCACDE@?KRD*BCL*LKHF<*!"#"$"%& '()*& +,-& "."/,01*)$& 1& 2)%& 3"*4)54%01%&5"&62&7)8"*/4)9

:;<4=3;5+

)6/.,S* *L@*EKCFF@

BCA?<D<?KB@ *********

$:4/M,32)4/M^S:R)/_,L $S(TAcE@ISFL(\f(JF(>MEAS(JFS(\]^g3(-EBHEI(2IEEFL3(?FEAIJALB>( F@H>BIEA>DI( ADBFXE>DBF( JFS( %IDLIE@AI( "DBFED>@AID>S( JF( )FEAIJALB>L( JF( "DKFLBAX>@ACD( Q( @IYHDJ>JIE( JFS( ?IEB>S( JF( ADKFLBAX>@ACD( O%CJAXI( KAJEAIR3( IYEF@AC( HD>( @IDYFEFD@A>( FD( S>(*DAKFELAJ>J(%>L>(6E>DJF(Z*%6[(UHDBI(>(LH(FL?IL>3(1>EW>( +FScD(-EEIQI3(?FEAIJALB>(F@H>BIEA>D>(B>TMAcD(@IYHDJ>JIE>( JFS(TALTI(LABAI(hFM3(Q(FJABIE>(?ISWBA@>(JF(S>(EFKALB>(9ALB>NIi( JIDJF(EF>SAN>EID(S>(?EFLFDB>@ACD(JF(LH(SAMEI(#FjFDFL(k)IE( GHc(FUF@HB>EID(>(SIL(?FEAIJALB>L(JF($S(%ITFE@AIl 8;Jd#& J#OC12$>%#2;#& %>0R;iO& J#O%]& J#O& ?>& P>2%;J;P>J;]O& =1& T;??I& .>C>221%1B&$1J21%>2;#&=1?&9#0;%i&F120>O1O%1&=1&8121Jd#$&a<0>O#$B& I&@;2;>0&5$%2>=>B&>$1$#2>&=1&?>&l.4&1O&%10>$&=1&$1"<2;=>=&I&=#J1O%1& =1& ?>& 49:B& V<;1O1$& >P#2%>2#O& $<$& P12$P1J%;C>$& $#R21& 1?& J#O%1_%#& $#J;#P#?M%;J#&V<1&$1&=1$>22#??>&1O&?>&A2#O%12>&O#2%1D F>2>& J#0P21O=12& <O& P#J#& 0S$& $#R21& ?#$& %10>$& V<1& >R>2J]& 1$%>& J#OA121OJ;>B&1$&;0P#2%>O%1&21J#2=>2&1?&d1Jd#&A>%M=;J#&V<1&>J#O%1J;]&1O&

?>&b#O>&=1&@>%>U1B&P>22#V<;>&=1&5$012>?=>$&I&A2#O%12>&J#O&9#?#0R;>B& =#O=1& 1?& 'Q& =1& 0>2b#& =1?& '()\& #J<22;]& 1?& $1J<1$%2#& =1?& P12;#=;$%>& e>C;12&l2%1">B&=1&HQ&>+#$n&1?&A#%]"2>A#&F>/?&6;C>$B&=1&3Ln&I&1?&J#O=<J%#2& 5A2>MO&71">22>B&=1&Q(n&?#$&%21$&J#221$P#O$>?1$&=1?&=;>2;#&5?&9#012J;#D& F#$%12;#201O%1B&1?&^&=1&>R2;?&=1?&0;$0#&>+#&A<12#O&C;?01O%1&>$1$;O>=#$& P#2&]2=1O1$&=1&y>?%12&F>%2;J;#&!2Mb>?>&,12O>b>B&>?;>$&p:<>Jd#qB&V<;1OB& $;&?1&J2110#$&>&9#?#0R;>B&A<1&I>&1U1J<%>=#D 9>R1& 21J>?J>2& V<1& %#=#& 1$%#& #J<22;]& 1O& <O& J#O%1_%#& J#OA?;J%;C#B& 21?>J;#O>=#&J#O&<O&#?C;=#&$;$%10S%;J#&=1&?>$&A2#O%12>$B&=#O=1&?>$&N!69& I& ?>$& =;$;=1OJ;>$& $1& P#$1$;#O>O& J>=>& C1b& 0S$& =1& ?>$& 0;$0>$B& $1"/O& P>?>R2>$&=1?&P12;#=;$%>&!2%<2#&c#221$D jB&P21J;$>01O%1B&<O#&=1&?#$&%10>$&V<1&>R>2J>&1?&?;R2#&A*,*(*%&1$&$#R21& ?#&V<1&#J<221&1O&?>&A2#O%12>&O#2%1&I&?#&V<1&O#&$>R10#$&=1&1??>B&I&V<1B& $;&A<12>&P#2&O<1$%2>$&><%#2;=>=1$B&J#O#J12M>0#$&>/O&01O#$D&a>I&)\& "2<P#$&>20>=#$&1O&?>&b#O>&A2#O%12;b>B&IB&>=10S$B&0<Jd>$&=1&?>$&>20>$& ??1">O&=1$=1&6<$;>B&F12/&I&9#?#0R;>B&P12#&>R$#?<%>01O%1&%#=>$&P>$>O& P#2&5J<>=#2D


"#&

/-,-(!$(1$!"./

5O& 1O12#& =1?& '()\B& <O& J>22#& R#0R>& 1$%>??>& A21O%1& >& <O& J<>2%1?& =1& P#?;JM>&1O&7>O&E#21Ob#B&5$012>?=>$B&I&J;OJ#&=M>$&>O%1$&=1?&$1J<1$%2#& >& ?#$& P12;#=;$%>$& <O>& =1%#O>J;]O& J#R2]& ?>& C;=>& =1& %21$& ;OA>O%1$& =1& 0>2;O>B&1O&<O>&10R#$J>=>&1O&@>%>U1D&5O&1$%1&J#O%1_%#&J#OA?;J%;C#&$1& =>&1?&C;>U1&=1&?#$&P12;#=;$%>$&>&?>&A2#O%12>D&5$&>dM&J<>O=#&$1&P2#=<J1&?>& 2<P%<2>&=1&P>b&=<2>O%1&=;1b&>+#$&1O%21&O>2J#%122#2;$%>$&I&1?&5$%>=#B&I& >?&2#0P12$1&1?&P>J%#&1$%>??>&?>&"<122>D

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

5$%SO& =1$>0P>2>=#$& I& d>I& <O>& #2A>O=>=& J#0P?1%>& =1& 1$>$& P#R?>J;#O1$B&%>O%#&>$M&V<1&O#&$1&=1O<OJ;>B&P#2V<1&$1&%;1O1&%10#2&>&?>$& 21%>?;>J;#O1$D&x<;1O1$&J#O%2#?>O&?>&A2#O%12>&$#O&?#$&"2<P#$&=;$;=1O%1$& I&?#$&O>2J#%2>A;J>O%1$D&.#&d>I&V<1&1$%;"0>%;b>2&>&?>$&P#R?>J;#O1$&=1& ?>&A2#O%12>B&1$&01U#2&%2>%>2&=1&1O%1O=12&1?&P2#R?10>B&I&P#2&V<i&1$%SO& P12C12$>01O%1& =1P1O=;1O=#& =1?& J2;01O& #2">O;b>=#& P>2>& $#R21C;C;2B& $1O%1OJ;>&c#221$D&

!=10S$B&1??>&J<1$%;#O>Y&vx<i&01=;=>$&1$%S&%#0>O=#&1?&"#R;12O#&=1&O<1$%2#& P>M$&P>2>&>J>R>2&J#O&1$%#&I&">2>O%;b>2&?>&P2#%1JJ;]O&=1&$<$&J;<=>=>O#$w& 4O>&;O%122#">O%1&V<1&V<1=>&>&U<;J;#&I&J2;%12;#&=1&J>=>&1J<>%#2;>O#D 71"/O& P>?>R2>$& =1& ?>& P12;#=;$%>& @>2M>& T1?iO& !22#I#B& <O& 0>I#2& =1& ?>& P#?;JM>& %1OM>& J#O#J;0;1O%#& =1& >01O>b>$& =;21J%>$& =1& p:<>Jd#q& >& ?>& P#R?>J;]O& J;C;?D& 5$%1& O>2J#%122#2;$%>& d>RM>& P2#01%;=#& V<1& ;R>& >& sP1?>2t&>&J<>?V<;12&1_%2>+#&V<1&$1&>J12V<1&>&?>&A2#O%12>&O#2%1B&I>&$1>O& C1O=1=#21$&;OA#20>?1$B&A#%]"2>A#$B&P12;#=;$%>$B&1%JD 81& d1Jd#B& d>I& J#OC12$>J;#O1$& =1& yd>%$!PP& 1O& 1?& ?;R2#& V<1& 0<1$%2>O&J#0#&p:<>Jd#q&1$%>R>&$1"<2#&=1&V<1&1$1&12>&$<&%122;%#2;#B& P2SJ%;J>01O%1&=>R>&]2=1O1$&I&$1&0#?1$%>R>&J#O&?>$&><%#2;=>=1$&=1?& $1J%#2&=;J;iO=#?1$Y&p7#O&<$%1=1$&?#$&V<1&10P;1b>O&>&U#=12O#$B&I&J#0#& O#$&1$%SO&U#=;1O=#B&?1$&C>0#$&>&01%12&R>?>qD&5$#&=10<1$%2>&J]0#&1?& 5$%>=#&J1=;]&$<&P#%1$%>=&1O&<O&%122;%#2;#&J>=>&C1b&0S$&>0P?;#D .#&$#?#&?#$&P12;#=;$%>$&=1&5?&9#012J;#&V<1&A>??1J;12#O&%2S";J>01O%1&$#O& CMJ%;0>$&=1&<O&J#OA?;J%#&=1?&J<>?&J#O#J10#$&%>O&P#J#B&$;O#&V<1&>=10S$& d>I&0<Jd#$&0S$&=>0O;A;J>=#$&1O&<O>&b#O>&J>=>&C1b&0S$&>0P?;>D 5$>&21>?;=>=&P#2#$>B&V<1&%;1O1&%1O%SJ<?#$B&V<1&J>=>&C1b&C>&J21J;1O=#B& I&V<1&"1#"2SA;J>01O%1&">O>&0S$&%122;%#2;#B&%;1O1&<O#$&P12U<=;J>=#$&>& ?#$&J<>?1$&!2%<2#&I&@>2M>&T1?iO&?#$&??>0>2#O&p?>$&CMJ%;0>$&$;?1OJ;#$>$&=1& J#OA?;J%#qD&71"/O&J#01O%>&c#221$B&1O&5$012>?=>$&$1&1$%S&d>J;1O=#&<O& 21J?<%>0;1O%#&=1&O;+#$&I&>=#?1$J1O%1$&=1R;=#&>&V<1&1O&1$1&%122;%#2;#& O#&d>I&;O$%;%<J;#O>?;=>=D&

T;??I&.>C>221%1&>P<O%>&V<1Y& }& )^&0;?&P12$#O>$&P2#J1=1O%1$&=1&,1O1b<1?>&$1&21";$%2>2#O& 1?&>+#&P>$>=#&1O&5J<>=#2B&1O&J#O=;J;]O&=1&21A<";>=#$D }& ''& 0;?& P12$#O>$& ??1">2#O& =1& 9#?#0R;>& P#2& P12$1J<J;]OB& 21$<?%>=#&=1&?>&C;#?1OJ;>D

"*+4)9,5:;/<U=>E=<>7@/A/BC4:D,5:;/<<=>J=<>7@/0/F:+:.;/M,32)4/M^S:R)/Y/S:4+).K,/5)/FH/5)/#:RN*2S,S2T*

.<OJ>&5J<>=#2&d>RM>&C;$%#&?>&J>O%;=>=&=1&1U1J<J;#O1$&V<1&$1&=>O&>& =;>2;#&1O&1?&P>M$B&O<OJ>&$1&d>RM>&C;$%#&1O&1?&P>M$&?>$&?1I1$&P120;$;C>$& P>2>&1?&<$#&I&1?&0>O1U#&=1&?>$&=2#">$B&O<OJ>&1?&P>M$&$1&V<1=]&J#0#&V<1& $;&O>=>&J<>O=#&=1$=1&1?&@;O;$%12;#&=1&61?>J;#O1$&5_%12;#21$&$1&1_P#2%]& =2#">&1O&<O>&C>?;U>&=;P?#0S%;J>&$;O&J#O$1J<1OJ;>$D&v81&V<i&0>O12>& 1$%S&-O%12P#?&%2>R>U>O=#&1O&1?&P>M$w&vc1O10#$&;O%1?;"1OJ;>&#2">O;b>=>w& .#&?>&%1O10#$B&>"21">&@;2;>0&5$%2>=>D


()*+,*,-)./0/BI:/(%%%/':7E

/ - , - ( ! $ ( 1 $ ! " . / "#!

=+.&+'(#>'.0&#7+&.$'((+&.-%5&+.

('.?#%(+2,#'."+.

6@2+&%.+2.0&+2-'

%ID(FS(YAD(JF(@IDLBEHAE(DHFK>L(I(TFUIEFL(D>EE>BAK>L( Q( >?IEB>E( >( HD>( AXH>SJ>J( GHF( EIT?>( FLBFEFIBA?IL3( JFS( \]( >S( \^( JF( T>ENI( JF( \]^g3( FD( FS( $JAYA@AI( 1>QIE( JF(S>(*%63(LF(EF>SANC(FS(B>SSFE(O$JA@ACD(9AISFB>3(B>SSFE( ?FEAIJWLBA@I(@ID(FDYIGHF(JF(XcDFEIR3(IEX>DAN>JI(?IE( )S>D( ADBFED>@AID>S3( 6AESL( AD( 2F@j( Q( S>( *DAKFELAJ>J( %>L>(6E>DJF(Z*%6[d !& 0>O12>& ;O%2#=<J%#2;>B& e#$i& @;"<1?& 9>0P;B& =#J1O%1& I& J##2=;O>=#2& =1&F!F&1O&?>&49:B&1_P?;J]&V<1&p"iO12#q&$1&=1A;O1&J#0#&?#$&>%2;R<%#$& >$;"O>=#$& >& 0<U121$& I& d#0R21$& P>2>& 21A12;2$1& >& J>2>J%12M$%;J>$& #& 2#?1$& V<1& $#J;>?& I& J<?%<2>?01O%1& $#O& =1%120;O>=#$& J#0#& A101O;O#& I& 0>$J<?;O#& ZJ#0#& $1& J;%]& 1O& 1?& 9#O$1U#& .>J;#O>?& P>2>& F21C1O;2& ?>& 8;$J2;0;O>J;]OB&'()Q[D&!$;0;$0#B&21$>?%]&V<1B&$;&1$%#$&2#?1$&J>0R;>O& 1O&%;10P#&I&1$P>J;#B&$1&%2>%>&=1&<O>&J#O$%2<JJ;]O&$#J;>?B&1$&=1J;2B&O#& 21$P#O=1O&>&<O>&J#O=;J;]O&O>%<2>?&1$P1JMA;J>&=1&d#0R21&I&0<U12D& c>0R;iO&01OJ;#O]&V<1&?>&C;#?1OJ;>&J#0/O01O%1&$1&21?>J;#O>&J#O&?>& =1&%;P#&AM$;J#B&P12#&?>&:QSW\OQG8%4%QIJQHKG;8&%>0R;iO&1O%2>O&1O&U<1"#B& %i20;O#& J21>=#& P#2& F;1221& T#<2=;1<& V<1& ?#& 10P?1>& P>2>& =1$J2;R;2& ?>&

p21?>J;]O& $#J;>?& =#O=1& 1?& s=#0;O>=#2t& 1U12J1& <O& 0#=#& =1& C;#?1OJ;>& ;O=;21J%>&z{|q&ZJ#0#&$1&J;%]&1O&!A2#Ai0;O>$B&'()Q[D& 5O&?>&P21O$>B&%#=#&?#&V<1&21A<12J1&1$%121#%;P#$&>2R;%2>2;#$B&1O%21&#%2>$& C;$;#O1$& =1?& 0<O=#B& J#O& 1?& A;O& =1& $;%<>2& >& J>=>& P12$#O>& $1"/O& ?#& 1$%>R?1J;=#B&1$&C;#?1OJ;>&$<%;?&#&;OC;$;R?1D&!=10S$B&$1&J<1$%;#O]&?>&A#20>& 1O&V<1&$1&P21$1O%>O&kJ#O&$;0;?;%<=k&?#$&d1Jd#$&1O&=;C12$#$&%;%<?>21$Y& p7>?;]&>&R>;?>2&J#O&>0;"#$B&$1&10R#22>Jd]&I&?>&C;#?>2#OqD&E>$&O#%;J;>$& V<1&$1&21A;121O&>&<O&=1?;%#&Z>R<$#&$1_<>?[&%;1O1O&<O>&O#%>R?1&%1O=1OJ;>& >&O#&1$J2;R;2$1&J#221J%>01O%1B&J#?#J>O=#&>&?>&0<U12&J#0#&J><$>O%1&I& O#&CMJ%;0>&=1&C;#?1OJ;>&=1&"iO12#D&& F#2& /?%;0#B& 9>0P;& $1+>?]& ?>$& =;A121OJ;>$& =1& 21P21$1O%>J;]O& P?<2>?& 1O& ?>& P21O$>B& ?>$& J<>?1$& A>C#21J1O& >& ?#$& d#0R21$B& $;1O=#& %#%>?01O%1& #P<1$%#&1O&1?&J>$#&=1&?>$&0<U121$B&V<;1O1$&$1&0<1$%2>O&1O&$;%<>J;#O1$& =1&%+>$2-*'($(#7$6&$1_;$0#&#&C;#?1OJ;>D&pE#$&01=;#$&k>2"<01O%]k&$#O& <O&K:RKb4&=;$%#2$;#O>=#&=1&?>&$#J;1=>=qB&;OA?<1OJ;>=#$&P#2&1?&P21U<;J;#& 01=;>=#&=1&?>$&J#O$%2<JJ;#O1$&$#J;>?1$D E>& P2;012>& U#2O>=>& J#OJ?<I]& J#O& ?>& 1_P12;1OJ;>& =1& 6#JM#& 8<OOB& P2#=<J%#2>& =1& %1?1C;$;]O& V<1& d>& %2>R>U>=#& P#2& 'L& >+#$& 1O& =;$%;O%#$&


"#'

/-,-(!$(1$!"./

J>O>?1$&O>J;#O>?1$D&!?1"]&V<1&<O#&=1&?#$&21%#$&J#O$%>O%1$&1$&J>0R;>2& ?>& 01O%>?;=>=& =1$=1& ?#$& 01=;#$B& =#O=1& $1& J211& O1J1$>2;#& p0#$%2>2& J>2O1& P>2>& C1O=12qD& 81O%2#& =1& ?#$& >$P1J%#$& P#$;%;C#$B& 21J#2=]& V<1& d#I& 1_;$%1& 0>I#2& =;C12$;=>=& =1& 21P21$1O%>J;]OB& I& >=10S$& =1$%>J]& ?>& 21$P#O$>R;?;=>=&V<1&%;1O1O&?#$&J#0<O;J>=#21$m>$&1O&?>&P2#=<JJ;]O&=1& J#O%1O;=#$B&1O&p%1O12&J?>2#&J]0#&21$P1%>2&>&?#$&=10S$&$;O&$12&#A1O$;C#$qD 5?& $1"<O=#& =M>B& E><2>& 9#%>21?#B& !$1$#2>& .>J;#O>?& =1& :iO12#& =1& F?>O& -O%12O>J;#O>?B& >R#2=]& ?>& C;#?1OJ;>& =1$=1& ?#$& 01=;#$& 1O& =;$%;O%#$& S0R;%#$D&F?>O%1]&1?&1$P>J;#&;O$%;%<J;#O>?&>&%2>Ci$&=1&<O&%;%<?>2Y&p,;??>JM$B& ?>& J>O=;=>%>& 0S$& >%2>J%;C>D& 9>201O>& O#& >P>21J1& 1O& 1?& '$(V7(&qn& $1& d>JM>& 21A121OJ;>& >& =#$& J>O=;=>%>$& >& ?>& >?J>?=M>& =1& @>=2;=B& 21$>?%>O=#& ?>& R1??1b>& J#0#& <O>& J#O=;J;]O& O1J1$>2;>B& 21$%SO=#?1& ;0P#2%>OJ;>& >& ?>& %2>I1J%#2;>&P2#A1$;#O>?&P>2>&>?J>Ob>2&<O&J>2"#&P/R?;J#D&5$%1&1$&<O#&=1& ?#$&=;C12$#$&1U10P?#$&V<1&C>?;=>O&?>&$<R21P21$1O%>J;]O&=1&?>$&0<U121$&1O& ?>&P21O$>B&V<1&21A?1U>&?>&21>?;=>=&=1?&5J<>=#2B&=#O=1&%>0P#J#&A;"<2>&$<& P>2%;J;P>J;]O&1O&J<1$%;#O1$&P2#A1$;#O>?1$B&P#?M%;J>$&#&=1&1$P>J;#&P/R?;J#D&

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

5$&;O=;$P1O$>R?1&1C;%>2&1?&$1O$>J;#O>?;$0#&I&21Jd>b>2&%i20;O#$&J#0#& pC;#?1OJ;>& =#0i$%;J>qB& pA>0;?;>2qB& pJ2;01O& P>$;#O>?qn& I& 2110P?>b>2?#$&& J#O& 1_P21$;#O1$& J#0#& pC;#?1OJ;>& 0>Jd;$%>qB& p=1& "iO12#qB& p$1_;$%>qB& pA10;O;J;=;#qB& pA10;J;=;#qB& V<1& 21$P#O=>O& >& ?>& 21>?;=>=D& p.<1$%2>& P2#A1$;]O& P<1=1& "1O12>2& <O& ;0P>J%#B& <O& 5J<>=#2& 0S$& ;"<>?;%>2;#& =#O=1&$1&J>0R;1O&?#$&1$%121#%;P#$B&2#?1$n&<O&P>M$&0S$&U<$%#&P>2>&%#=#$& I&%#=>$qB&J#OJ?<I]D N;O>?01O%1B&$1&21>?;b]&<O&1U12J;J;#B&J#O&1?&A;O&=1&>P?;J>2&?#$&J#O#J;0;1O%#$& >=V<;2;=#$n&$1&>O>?;b]&J>=>&<O>&=1&?>$&P<R?;J>J;#O1$&=1&C>2;#$&=;>2;#$B& $#R21&?>$&V<1&$1&J<1$%;#O]Y&va>I&0<U121$&<&#%2#$&"2<P#$&0;O#2;%>2;#$& 1O&1?&01=;#wB&vJ<SO%#m>$&d>IwB&vJ]0#&$1&C1O&21P21$1O%>=#m>$wB&vd>I& >?"<O>&2>b]O&?1"M%;0>&P>2>&1$>&21P21$1O%>J;]Ow&9#O&1?&P2#P]$;%#&=1& P?>O%1>2O#$B&vV<i&P#=10#$&d>J12&=1&A#20>&=;A121O%1w ,KUKHKIGQ8: 9#O$1U#&.>J;#O>?&P>2>&F21C1O;2&?>&8;$J2;0;O>J;]OD&Z'()Q[D&H25%$'754)*42$4 )71*'%7)$)4%*^+$264)*4&G(*'54=4#$'$#-*';%-7#$%4%*^+$2*%"&61J<P12>=#& =1&d%%P$YmmR;%D?Im'#!l,j6&

9#OU<O%>01O%1B& P?>O%1]& <O#& =1& ?#$& #RU1%;C#$& A<O=>01O%>?1$B& 1$%>R?1J;=#$&1O&?>&81J?>2>J;]O&I&F?>%>A#20>&=1&!JJ;]O&=1&T1;U;O"&1O& )**LB& 1?& J<>?& P2;#2;b>& ?>& P12$P1J%;C>& =1& "iO12#& 1O& 1?& P12;#=;$0#& I& R<$J>&P2#0#C12&?>&=;C12$;=>=&I&V<1&$1&21>?;J1O&;0S"1O1$&1V<;?;R2>=>$B& P?<2>?1$& I& O#& 1$%121#%;P>=>$& $#R21& ?>$& 0<U121$D& !=10S$B& 9#%>21?#& 1OA>%;b]&V<1&1?&?1"<>U1&;OJ?<$;C#&1$&<O&21J<2$#&1$1OJ;>?&P>2>&J#0R>%;2& 1?&=;$J<2$#&V<1&P12P1%/>&?>&=;$J2;0;O>J;]O&d>J;>&?>$&0<U121$&Z1?&<$#& $1_;$%>&I&>O=2#JiO%2;J#&=1?&?1O"<>U1[B&>?&$12&<O&#R$%SJ<?#&P>2>&=>2?1$& C;$;R;?;=>=&=1&<O>&0>O12>&U<$%>&I&>=1J<>=>&1O&?>&P21O$>D& F>2>&J<?0;O>2B&9#%>21?#&>+>=;]Y&pE>&/O;J>&J><$>&=1&?#$&>$1$;O>%#$&=1& C;#?1OJ;>&=1&"iO12#&1$&1?&0>Jd;$0#&=1&?#$&>"21$#21$qB&I&210>2J]&V<1& O#&$1&=1R1&R<$J>2&?>&U<$%;A;J>J;]O&V<1&>?1"<1&<O&d#0;J;=>&#&$<&=1A1O$>D&

$:4/Q,*2)--,/6,-,4L,/_)NC)5"21$>=>&=1&?>&J>2212>&=1&9;1OJ;>$&F#?M%;J>$&I&61?>J;#O1$& -O%12O>J;#O>?1$& =1& ?>& N>J<?%>=& =1& !=0;O;$%2>J;]O& I& 9;1OJ;>$&F#?M%;J>$&=1&?>&4O;C12$;=>=&9>$>&:2>O=1&Z49:[D

"*+4)9,5:;/7?=>E=<>7@/A/BC4:D,5:;/7P=>J=<>7@/0/F:+:.;()4T*2S,/G,-5:*,5:

l?;$>B& @D& Z'L& =1& >"#$%#& =1& '()Q[D& L& 1U10P?#$& =1& C;#?1OJ;>& $;0R]?;J>& z5O%2>=>&=1&R?#"|D&61J<P12>=#&=1&d%%P$YmmR;%D?Im';85edR&


/-,-(!$(1$!"./

()*+,*,-)./0/BI:/(%%%/':7E

"#(

%.'2-1"'-%"&'(-1+"$'2-,`(

2m3(

k%*;'2-()#.9.%-/2$l

5?&Q&=1&$1P%;10R21&=1?&'()\&A<1&>P2#R>=>&1O&:<>I>V<;?&?>&#2=1O>Ob>& J#O%2>&?#$&P?S$%;J#$&=1&<O&$#?#&<$#D&71"/O&1?&-O$%;%<%#&=1&5$%>=M$%;J>& I&91O$#$&Z-.59[B&^&=1&J>=>&)((&d#">21$&10P?1>O&R#?$>$&=1&%1?>&#&=1& 0>%12;>?& 21<%;?;b>R?1& >?& 0#01O%#& =1& 21>?;b>2& $<$& J#0P2>$B& 0;1O%2>$& V<1&1?&*)B*3~&=1&?#$&"<>I>V<;?1+#$&$1&C>?1&=1&A<O=>$&P?S$%;J>$&Z'()^[D& 8M>&>&=M>&$1&P2#=<J1O&P?>%#$B&C>$#$B&%>P>$B&R#%1??>$B&$#2R1%1$&I&A<O=>$& =1& P?S$%;J#n& 1$& =1J;2B& ?>& A>R2;J>J;]O& =1& 1$%1& 0>%12;>?& $1& 0>O%;1O1& 1O& J#O$%>O%1&><01O%#B&J#O&1?&A;O&=1&$>%;$A>J12&?>$&O1J1$;=>=1$&#&>P<2#$& =1?& $12& d<0>O#D& p5O& ?#$& /?%;0#$& =;1b& >+#$& d10#$& P2#=<J;=#& 0S$& P?S$%;J#&V<1&1O&%#=>&?>&d;$%#2;>&=1&?>&d<0>O;=>=D&Z{[&$1&1$%;0>&V<1& 1O&'('(&$1&$<P12>2SO&?#$&L((&0;??#O1$&=1&%#O1?>=>$&>O<>?1$B&?#&V<1& $<P#O=2M>&<O&*((~&0S$&V<1&?#$&O;C1?1$&=1&)*\(q&Z:211OP1>J1B&$D&AD[D& @<Jd#$&=1&1$%#$&P2#=<J%#$&%120;O>O&1O&?#$&#Ji>O#$B&I&>&J><$>&=1&?>& 2>=;>J;]O&4,&?#$&P2#J1$#$&=1&=1"2>=>J;]O&$1&>J1?12>OD&81&1$%>&A#20>B& $1&=1$J#0P#O1O&1O&P1V<1+#$&A2>"01O%#$&??>0>=#$&p0;J2#P?S$%;J#$qB& V<1&%120;O>O&P#2&P2#P>">2$1&I&??1">O&>&J#O%>0;O>2&<O&S21>&>/O&0>I#2B& #J>$;#O>O=#& V<1& ?#$& >O;0>?1$& 0>2;O#$& J#OA<O=>O& 1$%#$& P1V<1+#$& P1=>b#$&J#O&J#0;=>&Zx<1OV<>B&'()\[D&vx<i&P1O$>2M>$&$;&=1$J<R2;12>$& V<1&1O&%<&P?>%#&=1&J#0;=>&%>0R;iO&1$%>$&;O";2;1O=#&0;J2#P?S$%;J#$w c2>$& ?>& >P2#R>J;]O& =1?& 0>O=>%#B& C>2;>$& 1O%;=>=1$& =1& ?#$& $1J%#21$& J#012J;>?1$& I& P/R?;J#$& $1& d>O& C;OJ<?>=#& >& ?>& J><$>B& 1O%21& 1??>$B& ?>&

4O;C12$;=>=& 9>$>& :2>O=1D& F>2>& ?#"2>2?#B& P2;012#& ;0P?101O%]B& =1$=1& =;J;10R21&=1?&'()\B&?#$&R>$<212#$&1J#?]";J#$n&I&?<1"#&$1&$<$%;%<I]&?#$&C>$#$& P?S$%;J#$&P#2&?#$&=1&P>P1?&I&?#$&$#2R1%1$&P#2&210#C1=#21$&=1&0>=12>D& :>R2;1?>&9>22;1?B&=;21J%#2>&=1&712C;J;#$&:1O12>?1$&=1&?>&49:B&J#01O%>& V<1&1$%>&=1J;$;]O&A<1&%#0>=>&R>$SO=#$1&1O&?>&0;$;]O&=1&?>&;O$%;%<J;]OB&?>& J<>?&P?>O%1>&V<1&$#0#$&$#J;>?01O%1&21$P#O$>R?1$D&!=10S$B&O#$&J<1O%>& V<1&?>&>$<01O&J#0#&<O&;OJ1O%;C#&P>2>&?#$&1$%<=;>O%1$&I&=#J1O%1$B&P>2>& V<1&%#01O&J#OJ;1OJ;>&$#R21&1?&<$#&=1?&P?S$%;J#&I&$<$&J#O$1J<1OJ;>$D& & !&P1$>2&=1&V<1&A>?%>O&0<Jd#$&>2%MJ<?#$&P?S$%;J#$&P#2&$<$%;%<;2B&1$%1&1$& <O&;O;J;#&P>2>&J#O%2;R<;2&J#O&1?&P?>O1%>&I&1=<J>2&>&%#=>&?>&J#0<O;=>=& #$%$&'$()7($& >& d>J12& ?#& 0;$0#D& 81$=1& ?>& ;O$%><2>J;]O& =1& 1$%>$& P2SJ%;J>$&$1&d>&O#%>=#&<O&J>0R;#&1O&J>=>&<O#&=1&?#$&V<1&J#OA#20>O& ?>&<O;C12$;=>=B&>?&<$>2&$<$&P2#P;#$&%120#$B&=1P#$;%>2&?>$&R#%1??>$&1O&<O& 1OC>$1&21J;J?>=#2B&$1P>2>2&?>$&%>P>$&=1&?>$&R#%1??>$&I&%#0>2$1&1?&%;10P#& =1&J?>$;A;J>2&?#$&%;P#$&=1&=1$1Jd#$D && E>& $;%<>J;]O& >0R;1O%>?& P<1=1& 01U#2>2& $;& J>0R;>0#$& O<1$%2#$& dSR;%#$D& @<Jd#$&=1&O#$#%2#$&P1O$>0#$&V<1&21>?;b>0#$&<O>&$;0P?1&>JJ;]OY&1$&<O>& $#?>&1OC#?%<2>&#&<O&$#?#&$#2R1%1D&7;O&10R>2"#B&=1$J#O#J10#$&#&O#&$1&O#$& #J<221&V<1&?>&=1J;$;]O&V<1&%#0>0#$&1O&1$1&0#01O%#B&%>0R;iO&1$&?>&=1& 0;??#O1$&=1&P12$#O>$&=1$=1&=;A121O%1$&P>2%1$&=1?&0<O=#n&I&1$#&21P12J<%1& 1O&J#O$;=12>R?1$&R1O1A;J;#$&P#$;%;C#$&P>2>&%#=#$&?#$&$121$&C;C#$D&


""#

/-,-(!$(1$!"./

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

F:+:;/$-^.+2S:./)*/-:./R,*9-,4)./5)/6N,Y,]N2-H/FN)*+)H/"-/j)-[94,\:

,KUKHKIGQ8: :211OP1>J1D&Z$D&AD[D&nB:95422*&$4*24.2<%-7#54$425%45#G$(5%4=4O+G4%+#*)*4*(-5(#*%o& @>=2;=B&57DY&:211OP1>J1D&61J<P12>=#&=1&d%%P$YmmR;%D?Im'Frgx7'& :211OP1>J1B&lD&Z$D&AD[D&N$-5%4%5>'*42$4.'5)+##7:(4)*4.2<%-7#5%"&@>=2;=B& 57DY&:211OP1>J1D&61J<P12>=#&=1&d%%P$YmmR;%D?Im'@'UF9.&& -O$%;%<%#&.>J;#O>?&=1&5$%>=M$%;J>$&I&91O$#$D&Z\&=1&#J%<R21&=1&'()^[D&:<>I>V<;?& 1O&J;A2>$&z5O%2>=>&=1&R?#"|D&61J<P12>=#&=1&d%%P$YmmR;%D?Im'_*%Lce& E]P1bB&!D&Z''&=1&>R2;?&=1&'()*&[D&8M>&=1&?>&c;122>Y&P2#%1U>0#$&?>$&1$P1J;1$B&J<;=10#$& O<1$%2>&J>$>&J#0/OD&?243$;%D&61J<P12>=#&=1&d%%P$YmmR;%D?Im'F#j0>?& E>& l.4& ?<Jd>& P#2& 0>O%1O12& ?#$& #Ji>O#$& ?;0P;#$& =1& P?S$%;J#$D& Z)'& =1& 0>I#&=1&'()^[D&C5-7#7$%4FCWD&61J<P12>=#&=1&d%%P$YmmR;%D?Im'aLd-`I&

QI8I%KI%KO% O]:;QG4%;KHS %R K J :% 8 J O8 K K:%JK%;4I pa[%<)&^t }& E%SQOO4I J8%834%s`28%A#>%OLGP8 I8% JK:8R8HKGKI% U8L 4GZ8I4%G8 JK% UO4H8% T% :% K GQ K :R K % ) %:K% |% &f)*<) 4H8:%s2\RKV[%<)&(%t5 O%S8H%T%8eI %K I %K J 8 QJ J G8J8%<6%P ULI 5t K;H4:%JK%RH4 KIRK8GK[%:5%U |% &)%)))%S %KIG4I;H8H%RO]:;QG4%%sBHK LK% RKGK:% KI% KO% QG4% d P8%R4JQJ4 H]% S]:% RO]:; ;Q Q: _ K % ) f ) |% -I% KO% < #>%OLGP8pa[%<)&^t5 S8H%s`28%A

x<1OV<>B&8D&Z''&=1&#J%<R21&=1&'()\[D&@;J2#P?>$%;J$&N;O=&cd1;2&y>I&-O%#& j#<2&:<%B&>&F;?#%&7%<=I&N;O=$D&J,*4C*!4]5'V4J79*%D&61J<P12>=#&=1& d%%P$YmmOI%;D0$m'!Oj03e& y#2?=& .#& c#R>JJ#& 8>I& '()^Y& T1>%;O"& %#R>JJ#& A#2& d1>?%dB& P2#$P12;%IB& %d1&1OC;2#O01O%&>O=&O>%;#O>?&=1C1?#P01O%D&ZH(&=1&0>I#&=1&'()^[D& D5'2)4[*$2-,4F'&$(7I$-75("&61J<P12>=#&=1&d%%P$YmmR;%D?Im'-LNC'3&

$:4/(,-)42,/%.,D)-/zI29N)L/B9N2-,4 5$%<=;>O%1&=1&$1"<O=#&>+#&=1&?>&J>2212>&=1&F12;#=;$0#& =1& ?>& N>J<?%>=& =1& 9#0<O;J>J;]O& @]O;J>& a12212>& =1& ?>& 4O;C12$;=>=&9>$>&:2>O=1&Z49:[D

"*+4)9,5:;/<U=>E=<>7@/A/BC4:D,5:;/<P=>J=<>7@/0/%-N.+4,S2T*/F4))C2k/A/F,D42LL2:/oTC)L

.<1$%2>$&>JJ;#O1$&J#%;=;>O>$&P<1=1O&>A1J%>2&1?&01=;#&>0R;1O%1B&J#0#& 1?&d1Jd#&=1&A<0>2&<O&J;">22;??#&I&O#&R#%>2&?>&J#?;??>&=1O%2#&=1&<O&R#%1& =1&R>$<2>n&d>J12?#&P2#C#J>2M>&?>&0<12%1&=1&0;?1$&=1&>O;0>?1$D&9>=>& >+#&$1&P2#=<J1O&>?21=1=#2&=1&LBQ&R;??#O1$&=1&J;">22#$&I&$#?#&1O%21&1?& H(~& I& 3(~& $#O& 21J#";=#$n& $<$& A;?%2#$& #& J#?;??>$& $#O& A>R2;J>=#$& J#O& >J1%>%#& =1& J1?<?#$>B& <O& P?S$%;J#& V<1& P<1=1& ??1">2& >& %>2=>2& d>$%>& )(& >+#$&1O&=1"2>=>2$1&Zpy#2?=&.#&c#R>JJ#&8>I&'()^qB&'()^[D&5O%#OJ1$B& v1$%S$&$1"<2#&V<1&%<$&>JJ;#O1$&O#&0>2J>O&?>&=;A121OJ;>w&


()*+,*,-)./0/BI:/(%%%/':7E

/ - , - ( ! $ ( 1 $ ! " . / """

!"#$%& !'(')*)%

*)*1*%3,/'&

+,)*-'&,(.)/*+& 0,'),'1.+/%2 !O%1$&=1&?#$&>+#$&^(B&J<>O=#&$1&=1JM>&?>&P>?>R2>&pA/%R#?qB&P#P<?>201O%1& $1&P1O$>R>&V<1&12>&<O&=1P#2%1&P2>J%;J>=#&$#?#&P#2&d#0R21$B&P12#&1$%#& O#&$;"O;A;J>R>&V<1&?>$&0<U121$&O#&U<">2>O&>?&R>?#0P;iB&$;0P?101O%1B& 1$%>&>J%;C;=>=&O#&%1OM>&=;A<$;]O&01=;S%;J>B&P#2&?#&V<1&12>&;OC;$;R;?;b>=>& 1O&?>&$#J;1=>=D 7<& >P>2;J;]OB& $1"/O& ?>& N-N!& Z'()L[& k#2">O;$0#& 21J%#2& =1?& A/%R#?& ;O%12O>J;#O>?k& $1& 210#O%>& >& 0S$& =1& )((& >+#$Y& p5?& A/%R#?& A101O;O#& %;1O1& <O>$& 2>MJ1$& %>O& P2#A<O=>$& J#0#& ?>$& =1?& 0>$J<?;O#Y& $<& P2;012& P>2%;=#&#A;J;>?&$1&=;$P<%]&1?&'H&=1&0>2b#&=1&)\*Lq&ZPS22D&)[D&& 5?& =;>2;#& ;O"?i$& cd1& :<>2=;>O& P<R?;J]& 1O& 0>2b#& =1& )\*L& <O>& =1& ?>$& P2;012>$& J2]O;J>$& $#R21& A/%R#?& A101O;O#& kV<1& 1O& 1$>& iP#J>& $1& ?#& =1O#0;O>R>&pA/%R#?&=1&0<U121$q&#&l%5##*'4!59*(i%mB&1O&?>&%2>=<JJ;]O& >&?1O"<>&;O"?1$>k&1O%21&?>$&Jd;J>$&=1&.#2%d&I&1?&7#<%dB&1O&E#O=21$B&1?& 'H&=1&0>2b#&=1&)\*L&ZJ#O&C;J%#2;>&=1&^W)&P>2>&.#2%dB&J>P;%>O1>=#&P#2& .1%%;1&a#O1IR>??B&A<O=>=#2>&=1?&T2;%;$d&E>=;1$&N##%R>??&9?<R[Y

81R#&=1J;2&V<1&?>&;0P21$;]O&V<1&01&d>&=1U>=#&1?&P>2%;=#&=1&1$%>& %>2=1&d>&$;=#&?>&=1&<O&1$P1J%SJ<?#&R#O;%#B&J#01O%>R>&?>&P12;#=;$%>& =1& cd1& :<>2=;>OB& ;=1O%;A;J>=>& /O;J>01O%1& J#O& ?>& A;20>& =1& p<O>& 0<U12&21P#2%12>qB&<O&1U10P?#&0S$&=1&?>&J#O$;=12>J;]O&V<1&21J;RM>O& ?>$&0<U121$&P2#A1$;#O>?1$&d>J1&0S$&=1&<O&$;"?#D&E>&;0>"1O&=1&<O>& Jd;J>& P>%1>O=#& <O& R>?]O& P<1=1& $12& 0<I& "2SJ;?B& $;10P21& V<1& O#& C;$%>&1$>$&A>?=>$&V<1&21$%>O&%#=>&?>&1$%i%;J>&>?&U<1"#&ZPS22D&\[D F12#& d>I& <O& d1Jd#& d;$%]2;J#& >& O;C1?& 0<O=;>?& V<1& P2#P;J;>& <O& 0>I#2& ;O%12i$&P#2&?>&P2SJ%;J>B&1?&J<>?&21$1+>&!O=2i$&@#d#2%1&Z'()3[Y E>& ??1">=>& =1& ?>& F2;012>& :<122>& @<O=;>?& P2#C#J]& V<1& 0;??#O1$& =1& d#0R21$& 0>2Jd>2>O& >?& A21O%1D& 5O& P>M$1$& ;O=<$%2;>?;b>=#$& J#0#& -O"?>%122>B&?>&0>O#&=1&#R2>&V<1&>R>O=#O>R>&?>&ASR2;J>&P>2>&>">22>2&1?& A<$;?&%<C#&V<1&$12&$<$%;%<;=>&P#2&0<U121$D&N<1&1O%#OJ1$&J<>O=#B&>?&;"<>?& V<1&?#$&d#0R21$B&1??>$&1O%2>2#O&1O&J#O%>J%#&J#O&1?&A/%R#?&ZPS22D&3[D


/-,-(!$(1$!"./

F1$1&>&1$%1&;0P<?$#B&?>&1C#?<J;]O&=1?&R>?#0P;i&A101O;O#&O#&0>2Jd]& >& ?>& P>2& =1?& 0>$J<?;O#D& p5O& )*')B& >P1O>$& %21$& >+#$& =1$P<i$& =1?& A;O& =1&?>&F2;012>&:<122>&@<O=;>?B&?>&N##%R>??&!$$#J;>%;#O&ZN!B&A1=12>J;]O& =1&A/%R#?&;O"?1$>[&=1J;=;]&P2#d;R;2&?#$&P>2%;=#$&1O%21&0<U121$qB&>"21">& @#d#2%1&Z'()3B&PS22D&Q[D&5$%1&1$%>OJ>0;1O%#&$1&=1R;]&>&V<1&?>&$#J;1=>=& P>%2;>2J>?& ;O"?1$>& J#O$;=12>R>& V<1& 1$%1& =1P#2%1& 12>& s;O>P2#P;>=#t& P>2>& $<& $1_#D& 5$%1& A21O#& =<2]& J>$;& L(& >+#$B& J<>O=#& ?>& N!& P120;%;]& O<1C>01O%1&?#$&P>2%;=#$&1O%21&=>0>$&1O&)*^)D& -O%Ue;W4O%UKSKIQI4%KI%-GL8J4H 7;&>&O;C1?&0<O=;>?&1?&$<2";0;1O%#&=1?&A/%R#?&A101O;O#&$1&=1%<C#&P#2& P21U<;J;#$&J<?%<2>?1$B&1O&5J<>=#2&?>$&0;$0>$&J;2J<O$%>OJ;>$B&$<0>=>$& >&#%2>$&J#0P?;J>J;#O1$&J#0#&?>&A>?%>&=1&#2">O;b>J;]O&I&P21$<P<1$%#B& d>O&>A1J%>=#&1?&J21J;0;1O%#&=1&?>&>J%;C;=>=B&P2#C#J>O=#&V<1&1?&A/%R#?& A101O;O#&1J<>%#2;>O#&%1O">&>P1O>$&3(&>+#$&=1&=1$>22#??#&I&$#?#&$;1%1& =1& #2">O;b>J;]O& =1?& J>0P1#O>%#& #A;J;>?& =1& ?>& 712;1& !B& J<I>& P2;012>& 1=;J;]O&A<1&1O&'()HD& :>2I$& 5$%<P;+SOB& J#O$;=12>=#& 1?& sP>=21t& =1?& A/%R#?& A101O;O#& 1O& 5J<>=#2B&P<1$&i?&A#20]&>&=1J1O>$&=1&U<">=#2>$B&J<1O%>Y& 5O%21&)*\3&I&)**(&$1&U<">R>&1?&M()5'&A/%R#?B&>$M&$1&;O;J;]&1?&A/%R#?& A101O;O#D&j#&;R>&=1&P<1R?;%#&1O&P<1R?;%#&>&C12&U<">=#2>$B&P#2V<1& ;()5'&$1&U<">R>&0S$&1O&1?&J>0P#B&?>&"1O%1&P;1O$>&V<1&1$&0S$&1O&?>& J;<=>=B&P12#&O#D&E>$&0<U121$&U<">R>O&J#O&?#$&C>2#O1$&1O&J>0P#$& =1&%;122>D& 5?&3&=1&1O12#&=1&)**LB&5?&4O;C12$#&P<R?;J]&?>&?;$%>&=1&U<">=#2>$&J;%>=>$& P#2&5$%<P;+SO&>&?>&P2;012>&$1?1JJ;]O&A101O;O>B&;O%1"2>=>&P#2Y&:?#2;>& E]P1b&I&@>2M>&c#221$B&>2V<12>$n&8;>O>&E>$%2>B&@12J1=1$&-P;>?1$B&e1OOI& !J#$%>B& 9>201O& l?;C#B& E><2>& @#21;2>B& :1#C>O>& c>0>I#& I& e>b0MO& @12J>=#B& b>"<12>$n& @>I2>& 6>0M21bB& 6#$>& l?;C#B& 81OO;$& @<2;??#B& @>2;%b>&,>??1B&N>OOI&7;0>22>&I&@>2M>&c1U>=>B&C#?>O%1$n&E;?;>O>&,;??>#B& !O>&,12>B&-20>&!?01;=>B&@12J1=1$&@1O>&I&!?;J;>&!?01;=>B&=1?>O%12>$D& E>&0>I#2M>&12>O&=1&:<>I>$&I&F;Jd;OJd>&ZT>2b#?>B&)**L[D&

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

5$& >$M& J#0#& 5J<>=#2& P>2%;J;P]& P#2& P2;012>& C1b& J#O& $<& $1?1JJ;]O& A101O;O>&1O&1?&7<=>012;J>O#&=1&T2>$;?&)**LB&I&><OV<1&V<1=]&J<>2%#& I&J?>$;A;J]&>&?>$&l?;0P;>=>$&=1&!%?>O%>&*QB&P#2&=1J;$;]O&=;2;"1OJ;>?B&?>& 5J<>A/%R#?&O#&1OC;]&>&?>$&21P21$1O%>O%1$&1J<>%#2;>O>$D p!O%1$& O#& d>RM>& 1?& >P#I#& V<1& >d#2>& $1& 1$%S& =1$P12%>O=#D& 5?& A/%R#?& A101O;O#&O#&12>&R;1O&C;$%#&1O&1$1&1O%#OJ1$qB&21?>%>&@>I2>&6>0M21bB& 1_$1?1JJ;#O>=>& =1& ?>& c2;J#?#2& I& V<;1O& J#01Ob]& >& U<">2& ;()5'& J#O& C>2#O1$&1O&?>$&J>??1$&H'&I&9#?#0R;>B&1O&?#$&\(D 6>0M21b&21$>?%>&?>&1C#?<J;]O&=1?&A/%R#?&A101O;O#&O>J;#O>?B&P<1$&5J<>=#2& I>& P>2%;J;P]& 1O& $<& P2;012& @<O=;>?& 9>O>=S& '()LB& =#O=1& ,>O1$$>& !2>/bB& A<1& 21J#O#J;=>& 1O& '()L& P#2& :<;OO1$$& y#2?=& 61J#2=$& J#0#& ?>& 1O%21O>=#2>&0S$&U#C1O&=1&?>&J#0P1%;J;]O&=1&N-N!B&J#O&'Q&>+#$D& !&P1$>2&=1&$<$&>C>OJ1$B&1?&A/%R#?&#OJ1&=1&0<U121$&>/O&O#&>?J>Ob>&1?& $%>%<$& =1& sP2#A1$;#O>?t& 1O& 5J<>=#2B& O;& $;V<;12>& J#O& ?>& J21>J;]O& =1& ?>& 7<P12&E;">&A101O;O>&&'()*B&1O&?>&V<1&P>2%;J;P>O&U<">=#2>$&>0>%1<2D ,KUKHKIGQ8: T>2b#?>B& @D& Z3& =1& 1O12#& =1& )**L[D& 71?1JJ;]O& A101O;O>B& ?;$%>& P>2>& 7<=>012;J>O#D&?24W(71*'%5D N-N!DJ#0D& Z'()L[D& E#$& #2M"1O1$& =1?& A/%R#?& A101O;O#D& 61J<P12>=#& =1& d%%P$YmmR;%D?Im'-$$20b& @#d#2%1B& !D& Z'()3[D& 5?& A/%R#?& A101O;O#& ??1"]& P>2>& V<1=>2$1Y& V<i& d>& P>$>=#& 1O& 1$%#$& /?%;0#$& )(& >+#$D& 61J<P12>=#& =1& d%%P$YmmR;%D ?Im'2V#0VX&

$:4/MN-2,/G,4+O,/GN49,/j)*)RC,9N,Y/ $:4/o292,/"-)*,/G:4)24,/WN49:. E;J1OJ;>=>& 1O& 9#0<O;J>J;]O& 7#J;>?& =1& ?>& 4O;C12$;=>=& 9>%]?;J>& =1& :<>I>V<;?D& e<">=#2>& P2#A1$;#O>?& =1& A/%R#?& A101O;O#D&9#O%2>%>=>&P#2&1?&J?<R&7>O&e#$i&=1&T2>$;?D

@>"M$%12&1O&9#0<O;J>J;]O&-O$%;%<J;#O>?&I&50P21$>2;>?&=1& ?>& 4O;C12$;=>=& =1& E>$& !0i2;J>$D& 8#J1O%1& =1& F12;#=;$0#& 81P#2%;C#&1O&4O;C12$;=>=&9>$>&:2>O=1&Z49:[D&F12;#=;$%>& =1P#2%;C>&=1&=;>2;#&5?&4O;C12$#D

"*+4)9,5:;/>J=>?=<>7@/A/BC4:D,5:;/>P=>?=<>7@/0/%-N.+4,S2T*/F4))C2k

"")


Facultad de Administración y Ciencias Políticas

EL ALTILLO

(7898:;.<I 1>?@8:;.>78@AB8CDE 6F@BG.JKD8>@C.L>BB>BMC )A9>;@>.*;N>?@8FC7ABC

778


$,(-,2",,.

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

d e a d id o s i r ic c ive ej r d E

0 , ! $ ' 5 ! ( )

/

* N,

+

B-

/ Q)

.

N O,

/M

4 $:

9#O& 1$%>& 1=;J;]O& GH& =1& -O% 0O;QOO4& d10#$& ?#"2>=#& 1$%2<J%<2>2& <O>& P2#=<JJ;]O& 1$J2;%>& J#O%;O<>& =1& ?#$& 1$%<=;>O%1$&=1&?>&N>J<?%>=&=1&!=0;O;$%2>J;]O&I&9;1OJ;>$& F#?M%;J>$D& E1$& P21$1O%>0#$& 1O& 1$%>& #P#2%<O;=>=& =;C12$>$& J#O%2;R<J;#O1$& =1& ?#$& >?<0O#$B& ?;">=>$& >& 9>$#$B&%2>R>U#$&=1&0>%12;>$&#&;O;J;>%;C>$&;O=;C;=<>?1$D ,;C;>O& 9>2%>"1O>B& 5C1?IO& @#OJ>=>& I& !?1_>& ,;??>& O#$& 1O%21">O& <O& P2#I1J%#& J#0<O;%>2;#& P>2>& ?>& J>$>& =1& >J#";=>& p4O& %1Jd#& P>2>& 1?& J>0;O#qB& =1& ?>& N<O=>J;]O&

a#">2&=1&92;$%#B&1$P>J;#&=1&21A<";#&=1&;O0;"2>O%1$&C1O1b#?>O#$&I&=1& #%2#$&P>M$1$B&=#O=1B&J#O&R>$1&1O&<O>&;OC1$%;">J;]O&P21C;>B&21=>J%>2#O& =#$& 0>O<>?1$& =1& J#OC;C1OJ;>& =1& "iO12#& I& 21J21>J;]O& ;OA>O%;?B& >& $12& >P?;J>=#$&1O&=;Jd>&;O$%;%<J;]OB&?#$&J<>?1$&#R%<C;12#O&R<1O#$&21$<?%>=#$& =1&$#J;>?;b>J;]OD 8>I>O>&r>0R2>O#&O#$&%2>1&<O>&O>22>J;]OB&p24(54*%4.*'8*#-564.*'5q64V<1& 1_P#O1&J;OJ#&%1$%;0#O;#$&=1&CMJ%;0>$&=1&>R<$#&$1_<>?&1O&J#O%1_%#$& A>0;?;>21$B& 0#$%2>O=#& ?>& ;0P<O;=>=& V<1& "#b>O& ?#$& >%>J>O%1$& >?& %2>$"21=;2&?#$&=121Jd#$&d<0>O#$&=1&?>$&CMJ%;0>$D e<?;#&-O%2;>"#B&1O&$<&%1_%#&N7%*X$()54*24#$9>754$4-'$1G%4)*4?)+#<()5(5%64 O#$&>?12%>&$#R21&?>&$;%<>J;]O&>?>20>O%1&=1?&$;$%10>&1=<J>%;C#B&P#2&?>& A>?%>&=1&J#O%;O<;=>=&1$J#?>2&I&$<&=;$%>OJ;>0;1O%#&=1&?>$&1J#O#0M>$&=1?& $;"?#&XX-D&-OA#20>&=1?&P2#"2>0>&J21>%;C#&p5=<JSO=#O#$qB&>P?;J>=#&1O& ?>&49:&=1$=1&1?&'()^B&$1"/O&?>&01%#=#?#"M>&N*%7&(4P5'4B,$(&*B&P>2>& $#$?>I>2&1$%>$&=1A;J;1OJ;>$D E>&1$%<=;>O%1&T2;>O>&,;??>#&O#$&21?>%>&1O&?2417$U*47)*$2642$4.52;-7#$4'*$24 $<& >?1JJ;#O>=#2>& 1_P12;1OJ;>& =1& P>2%;J;P>J;]O& 1O& ?>& $;0<?>J;]O& =1?& @#=1?#&.>J;#O>?&=1&?>$&.>J;#O1$&4O;=>$&Z.@4.[B&21>?;b>=#&1O&.<1C>& j#2g&1O&0>2b#&=1&'()*D&5?&1V<;P#&V<1&21P21$1O%]&>&?>&49:&">O]&1?& P210;#&=1&p81?1">J;]O&=;$%;O"<;=>qD E$4 9+U*'4 *(-'*4 )5%4 .'7%75(*%6& 1$J2;%#& P#2& !?1U>O=2#& lU1=>B& =;$J<%1& ?>& P#$;J;]O& =1& ?>$& 0<U121$& 1O& 1?& =;$J<2$#& J<?%<2>?B& ?>$& J#O=;J;#O1$& 0>%12;>?1$&=1&?>&$#J;1=>=&I&1?&J>P;%>?;$0#D&7#$%;1O1&V<1&1?&>JJ1$#&>?& $>R12&1$&P#=12&I&V<1&J#0P#2%>&<O>&C12=>=&V<1&?>&A10;O;=>=&J#O$%2<I1B& d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e#2"1& ,>?=1b& I& !O>& FD& !2"<1??#& 21>?;b>2#O& <O>& ;OC1$%;">J;]OB& ?#"2>O=#& C>2;>$& J#OJ?<$;#O1$& =1& ;O%12i$D& 8;$J<%1O& ?>& ;OJ#O$%;%<J;#O>?;=>=& =1?& 21%;2#& =1?& >$;?#B& ?>& =;$#?<J;]O& =1?& $#J;>?;$0#& =1?& $D& XX-& I& $<";121O& V<1& $1& =1R;]& R<$J>2& #%2>& CM>& P>2>& ?>& $>?;=>& =1& !$$>O"1&V<1&O#&C;#?>2>&$<$&=121Jd#$&d<0>O#$D

"*+4)9,5:;/7@=>?=<>7@/A/BC4:D,5:;/<>=>?=<>7@/0/%-N.+4,S2T*/F4))C2k

""$


$ , ( - , 2 " , , . ""%

()*+,*,-)./0/BI:/(%%%/':7E

& ( # ' # . < = > @

>?.#?@#&A1+#&/($($1$+ )"B.?+?%+$0B&?1C?+ (?+%")+4?D"#&")+ 71C?.1$#&"1$%?) 81&;bV<;12=>&>&=121Jd>Y&.;J#?1&@>22;#%%B&9>2#?>IO&,12>B&6>A>1?&9dSC1bB&E#<;$&8<1+>$B&8#0iO;J>&jS+1b&I&.;J#?S$&c2#OJ#$#D

$LBHJA>DBFL( JFS( %>LI( a( EF>SAN>EID( HD( FLBHJAI( LIMEF( S>( LABH>@ACD( F@IDCTA@>( JF( $@H>JIE( FD( SIL( nSBATIL( >VIL3( @CTI( FLB>( j>( >YF@B>JI( S>( AT>XFD( JFS( XIMAFEDI( ADBFED>@AID>STFDBF(Q(GHc(>@@AIDFL(?IJEW>D(BIT>ELF(?>E>( TFUIE>E(F(AT?HSL>E(FS(@SAT>(JF(DFXI@AIL(FD(FS(FeBFEAIEd

-O;J;>0#$&1?&9>$#&J#O&?>&Jd>2?>&=1?&@;O;$%2#&=1&5J#O#0M>&I&N;O>Ob>$B& 6;Jd>2=& @>2%MO1bB& V<;1O& J#O%1_%<>?;b]& ?>& P#$;J;]O& >J%<>?& =1?& 5$%>=#& 1J<>%#2;>O#&1O&1?&$1J%#2&1J#O]0;J#B&J#O&1?&A;O&=1&0#$%2>2&?>&1C#?<J;]O& =1& C>2;>R?1$& J#0#Y& P21$<P<1$%#& A;$J>?B& P2#=<J%#& ;O%12O#& R2<%#& ZF-T[B& 2;1$"#&P>M$B&P?>O&=1&P2#$P12;=>=&I&21?>J;#O1$&;O%12O>J;#O>?1$D&5$%#&O#$& P120;%;]&>P21O=12&%i20;O#$&V<1&;OA?<I1O&1O&1?&=1$>22#??#&=1&<O&P>M$D & E<1"#&C;$;%>0#$&1?&%120;O>?&P#2%<>2;#&=1&:<>I>V<;?&Z-.!6F-[B&=#O=1& >P21O=;0#$& $#R21& 1?& A<OJ;#O>0;1O%#& =1& ?>$& ;O$%>?>J;#O1$& I& J]0#& #P12>O& ?#$& P<12%#$& J#O& ?>$& 012J>=12M>$D& 7;O& 10R>2"#B& 1?& %2>$A#O=#& =1& ?>& C;$;%>& %1OM>& J#0#& #RU1%;C#& J#0P21O=12& ?>$& ;0P#2%>J;#O1$& I&

1_P#2%>J;#O1$&=1&?>&J;<=>=B&I&J]0#&1$%#&>?%12>&?>&R>?>Ob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i$&=1&1OJ<1$%>$&A<1&J#0P?;J>=>B&I>&V<1&?>$& P12$#O>$&%1OM>O&V<1&1OJ>U>2&1O&<O&P12A;?&1$P1JMA;J#B&P>2>&>$M&=1$J<R2;2&?>$& P12J1PJ;#O1$&$#R21&J]0#&d>&J>0R;>=#&1?&J?;0>&J#012J;>?&=1&:<>I>V<;?D& !$;0;$0#B& $1& 21>?;b>2#O& 1O%21C;$%>$& >& 10P21$>2;#$& =1& =;$%;O%#$& $1J%#21$& 1J#O]0;J#$B& J#O& 1?& A;O& =1& ;=1O%;A;J>2& J<S?1$& $#O& ?>$& A>J;?;=>=1$& #& =;A;J<?%>=1$&V<1&d>O&;0P?101O%>=#&?>$&1O%;=>=1$&"<R12O>01O%>?1$&P>2>&?>& P#%1OJ;>?;b>J;]O&I&=;O>0;b>J;]O&=1&$<&;O=<$%2;>D


$,(-,2",,.

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

=4IGOL:Q4IK: c>O%#& ?#$& 10P21O=1=#21$& J#0#& ?#$& J;<=>=>O#$& =1& :<>I>V<;?& O#& J#O$;=12>O& V<1& d>& d>R;=#& <O& J>0R;#& %>O& 21?1C>O%1& 1O& ?>& 1J#O#0M>& =1?&P>M$B&>&P1$>2&=1&$<&>P12%<2>&>&O<1C#$&012J>=#$&I&A;O>OJ;>0;1O%#& 1_%12O#D&5$%#&$1&=1R1&>&V<1&O#&d>O&P12J;R;=#&<O>&C>2;>J;]O&$;"O;A;J>%;C>& 1O& $<$& ;O"21$#$B& P21J;#$& I& =1$>22#??#& =1& O1"#J;#$D& 5?& "#R;12O#& =1R1& ;0P?101O%>2& J?S<$<?>$& V<1& ??1C1O& >& V<1& ?>& J;<=>=>OM>& J>0R;1& $<& P12J1PJ;]O&$#R21&?>&$;%<>J;]OD A/,A"%0MA,/-"

}&81$J<R2;0#$& Z$#R21& -.!6F-[& V<1& $<$& A;O>Ob>$& ?>$& 0>O1U>O& P#2& ;O%<;J;]OD& 81$J#O#J1O& $#R21& A;O>OJ;>0;1O%#& 1_%12O#B& ?#& J<>?& 21$<?%>& >?>20>O%1D& E>& ;O%12C1OJ;]O& =1& 1$%#$& 10P21$>2;#$& 1$& 1$1OJ;>?&P>2>&V<1&?>&1J#O#0M>&=1?&P>M$&J;2J<?1&=1&0>O12>&A>J%;R?1& Z8;>O>& a12212>B& 9>0;?>& 7>R>O=#B& e#$i& 61I1$B& T2I>O& .>21>& I& 7>O%;>"#&T>;=>?[D }&lR$12C>0#$& V<1& 1_;$%1O& C>JM#$& J<?%<2>?1$& V<1& O#& P120;%1O& <O& R<1O& =1$>22#??#& =1?& J?;0>& =1& O1"#J;#$& 1O& 5J<>=#2D& .<1$%2#$& 1OJ<1$%>=#$& J#O$;=12>O& V<1& 1?& "#R;12O#& =1R1& $#?<J;#O>2?1$& I& =>2?1$&%#=#D&ZK>21?I$&F1+>&T<2"#$B&e#d>O&7#%#&F;Ob]OB&@>2M>&F><?>& ,12">2>&,;12>&I&E1$?;1&!$>Ob>&91C>??#$[D

}& 9#0P21O=;0#$& J#O& 0>I#2& =1$%21b>& $#R21& 1?& J#012J;#& ;O%12O>J;#O>?D& 61A#2b>0#$& d>R;?;=>=1$& J]0#Y& %2>R>U>2& 1O& "2<P#B& P?>O%1>2& 1$%2>%1";>$& J#012J;>?1$B& 21$P1%>2& ?>$& #P;O;#O1$& =;C12$>$& $#R21& <O& %10>B& %#0>2& =1J;$;#O1$B& "1$%;#O>2& :62&13*"$54;1."&"%& 1?& %;10P#& I& P?>O%1>2& $#?<J;#O1$& >O%1& <O& 8<%&"="/04>)& P2#R?10>&Zcd>?;>&E]P1bB&@;"<1?&E]P1bB&:>R2;1?>& /,1$5)&%"& @>%>0#2#$B&@>2J#&l2%;b&I&E<;$&6#=2M"<1b[D }& 5O&1?&2>Og;O"&=1&P<12%#$B&:<>I>V<;?&#J<P>&1?& %12J12&?<">2B&1O&%i20;O#$&=1&C#?<01OD&F12#&?>$& 10P21$>$& 1J<>%#2;>O>$& O#& ?#"2>O& $<& 0S_;0#& P#%1OJ;>?B&=1R;=#&>&?#$&#R$%SJ<?#$&V<1&;0P#O1& 1?& 5$%>=#B& ?#& V<1& >& $<& C1b& >d<I1O%>& >& ?#$& 10P21$>2;#$& 1_%2>OU12#$& Z9>0;?>& 6#J>B& E;$1%d& 9>2<>U<?J>B&@1?;$$>&,1?>$J#B&T2I>O&@#O%>?C>OB& e#$i&9>2?#$&@>JM>$&I&e#$i&5O2;V<1&.;0R2;#%;$[D

4$>"%04?1@ 3)*+,"&2)&+,"& /)$)/"8)%& /18A41&2)&+,"& >"8)%BC

}& !P21O=;0#$& J]0#& I& 1O& V<i& >A1J%>& >& ?#$& O1"#J;#$& J#OJ1P%#$& J#0#& 2;1$"#& P>M$B& ;OA?>J;]OB& J?;0>& =1& O1"#J;#$& 1O%21& #%2#$D& 9#O#J;0#$& 1?& 1$%>=#& >J%<>?& =1& ?>& 1J#O#0M>& 1J<>%#2;>O>B& I& ?>$& 1$%2>%1";>$& "<R12O>01O%>?1$& P>2>& ;0P<?$>2& 1?& J>0P#& ?>R#2>?B& "1O12>2&J#OA;>Ob>&>&P>M$1$&d120>O#$&I&>%2>12&P#$;R?1$&;OC12$#21$& 1_%12O#$&ZF>01?>&7#$>B&8>C;=&T<2"#$&r>0#2>B&@;?1O&c>J#&a12212>B& e#2"1&:#ObS?1b&a;=>?"#B&ÄO"1?>&6<$d;O"&91O%1O#[D }& a#I&1_;$%1&1O&5J<>=#2&<O>&21=<JJ;]O&;0P#2%>O%1&=1?&2;1$"#&P>M$& =1&L*3&P<O%#$D&81&=;J;10R21&=1?&'()\&>&0>I#&=1?&'()*&d10#$& =;$0;O<;=#&'H'&<O;=>=1$D&5$%#&O#&$;"O;A;J>&V<1&1?&O;C1?&=1&2;1$"#& $1>&]P%;0#&Z!?1U>O=2>&7<>21b[D

}&E>&P2;OJ;P>?&>P%;%<=&V<1&>=V<;2;0#$&A<1&?>&10P>%M>B& P<1$& O#$& ;O$12%>0#$& 1O& 1?& P1O$>0;1O%#& =1& ?#$& 1OJ<1$%>=#$&I&1O%21C;$%>=#$B&P>2>&;O%12J>0R;>2& ;=1>$& $#R21& ?>& >J%<>?;=>=& =1?& P>M$D& c>0R;iO& #R%<C;0#$& d>R;?;=>=1$& J#0#& ;O%1?;"1OJ;>& 10#J;#O>?B& J>P>J;=>=& =1& 1$J<Jd>& I& O1"#J;>J;]O& ZK;>OOI&a;=>?"#B&!O=21>&e>2>B&e<>O&9>2?#$&j%<22>?=1B& .;J#?S$&T>22]O&I&,>?12I&:#Ob>">[D }& !P21O=M& >& >=0;O;$%2>2& 01U#2& 1?& %;10P#B& J#O#JM& >&A#O=#&0;&"2<P#B&$<$&A#2%>?1b>$&I&=1R;?;=>=1$B& P>2>& %2>R>U>2& R;1O& 1O& 1V<;P#D& 5?1"M& ?;=12>2& 1?& "2<P#B& ?#& V<1& A<1& =;AMJ;?B& P12#& 01U#2]& 0;$& d>R;?;=>=1$& J#0#& ?M=12& I& 0;10R2#& =1?& 1V<;P#& Z7>O%;>"#&E>O=;C>2[D

& & & & & }& @<Jd#$& 1J<>%#2;>O#$& =1$J#O#J1O& #& ;"O#2>O& 1?& 1$%>=#& 1J#O]0;J#& >J%<>?& =1& $<& P>M$B& ?#& V<1& P<1=1& $12& 0<I& P12U<=;J;>?&P>2>&5J<>=#2B&P<1$%#&V<1&O<1$%2#&A<%<2#&1J#O]0;J#& O#&=1R1&=1P1O=12&$#?#&=1&<O>&P12$#O>&#&<O>&>=0;O;$%2>J;]OB&$;O#& =1&%#=#$&?#$&V<1&J#OA#20>0#$&1$%1&P>M$&Z!2;>O>&!2>"<O=;B&-O"2;=& l2=#+1b&1&-CSO&61I1$[D

$:4/o:N2./QN)I,.Z/Q:R[*2S,/s^I)LZ/'2S:-^./j4:*S:.:Z/ #,4:-,Y*/()4,Z/'2S:-)/G,442:++/Y/!,\,)-/#O^3)L 5$%<=;>O%1$&=1&$1"<O=#&>+#&=1&?>&J>2212>&=1&.1"#J;#$&-O%12O>J;#O>?1$&=1&?>&N>J<?%>=& =1&!=0;O;$%2>J;]O&I&9;1OJ;>$&F#?M%;J>$&=1&?>&4O;C12$;=>=&9>$>&:2>O=1&Z49:[D

"*+4)9,5:;/<>=>J=<>7@/A/BC4:D,5:;/7>=>?=<>7@/0/F:+:;/S:4+).K,/5)/-:./).+N52,*+).

""&


& ( # ' # . < = > @

$ , ( - , 2 " , , . ""! F:+:;/i:-/@7HJ

()*+,*,-)./0/BI:/(%%%/':7E

$LBHJA>DBFL( JF( %>LI( "( JF( *%63( @ID( LISI( JIL( LFT>D>L( JF( ?S>NI3( @HT?SAFEID( @ID( FS( ?FJAJI( JF( JFL>EEISS>E( HD>( ADKFLBAX>@ACD( LIMEF( 8HSA>D( -LL>DXF3( GHF( JFMW>( J>E( @ITI( EFLHSB>JI( S>( FL@EABHE>( JF( HD( >EBW@HSI( ?>E>( 9FDB>D>SFL( LIMEF( FS( BFT>d( -( @IDBADH>@ACD3( ?EFLFDB>TIL( S>( LFSF@@ACD( JF(S>(TFUIE(?EI?HFLB>d(

!$$>O"1&12>&<O#&=1&?#$&J>$#$&V<1&9#221>&d>RM>&=1U>=#&;OJ#OJ?<$#&1O&$<& "#R;12O#&I&V<1&@#21O#&=1RM>&21$#?C12D&71&J#O#J1&V<1&1$%1&/?%;0#&%#0]& ?>& =1J;$;]O& 1O& J#O%2>& =1& !$$>O"1B& I>& V<1B& =1R;=#& >& =;Jd>& ;O1$%>R;?;=>=& 1J#O]0;J>B&R<$J>R>&<O&P2i$%>0#&=1?&N#O=#&@#O1%>2;#&-O%12O>J;#O>?&ZN@-[B& J<I>&1_;"1OJ;>&>&J>0R;#&12>&;OA?<;2&1O&?>$&P#?M%;J>$&=1&?#$&1$%>=#$&21J1P%#21$& =1&J2i=;%#$B&I&1$%1&A<1&1?&J>$#&=1&?>&=1$C;OJ<?>J;]O&=1&!$$>O"1D&

5O&U<O;#&=1?&'()'B&e<?;>O&!$$>O"1B&A<O=>=#2&=1&y;g;?1>g$B&;O"21$]&J#0#& 21A<";>=#& >& ?>& 10R>U>=>& 1J<>%#2;>O>& 1O& E#O=21$B& =1R;=#& >& V<1& 12>& R<$J>=#&P#2&?>$&><%#2;=>=1$&$<1J>$&P#2&>J<$>J;#O1$&=1&>R<$#&$1_<>?D& 5$%>=#$& 4O;=#$& ;OA?<M>& 1O& ?>& $#R12>OM>& =1& 7<1J;>B& P#=2M>& R2;O=>2?1& >P#I#& 0;?;%>2D& 55D44D& R<$J>R>& $<& 1_%2>=;J;]OB& P#2& d>R12& P<R?;J>=#& !$$>O"1&>2Jd;C#$&J#OA;=1OJ;>?1$&>J12J>&=1&$<&"#R;12O#D

!$M& 0;$0#B& #%2>$& 2>b#O1$& P#=2M>O& 21J>12& 1O& ;221"<?>2;=>=1$& 1O& 1?& P2#J1$#&=1&$<&O>J;#O>?;b>J;]On&?>&;O%12A121OJ;>&1O&?>&P#?M%;J>&=1&#%2#$& 1$%>=#$B& V<1& >22;1$">R>& ?>& 21?>J;]O& =1& 5J<>=#2& J#O& #%2>$& O>J;#O1$n& I& 1?& 0>?& J#0P#2%>0;1O%#& I& A>?%>& =1& 21$P1%#& >?& P12$#O>?& =1& ?>& 10R>U>=>& 1J<>%#2;>O>D& !=10S$B& $1"/O& <O& ;OA#201& 0i=;J#B& ?>& $>?<=& =1&!$$>O"1&1$%>R>&1O&<O&J#O%;O<#&=1%12;#2#&P#2&?>&A>?%>&=1&1U12J;J;#& I&>;$?>0;1O%#D&c>0P#J#&1?&61;O#&4O;=#&1$%>R>&=;$P<1$%#&>&J#OJ1=12?1& <O&$>?C#J#O=<J%#D&

@1$1$&=1$P<i$B&1?&P21$;=1O%1&1O%#OJ1$B&6>A>1?&9#221>B&?1&R2;O=]&>$;?#& P#?M%;J#&>&!$$>O"1B&J#O&1?&A;O&=1&J#0<O;J>2&$<&>P#I#&>&?>&?;R12%>=&=1& 1_P21$;]OB&>&P1$>2&=1&V<1&d>RM>&0<Jd>$&?;0;%>J;#O1$&I&21P21$>?;>$&>&?>& ?;R12%>=&=1&P21O$>&1O&5J<>=#2D&7;O&10R>2"#B&E1OMO&@#21O#B&P21$;=1O%1& >&?>&A1Jd>B&21%;2>&?>&O>J;#O>?;=>=&1J<>%#2;>O>&>&!$$>O"1&1O&>R2;?&'()*B& ?>& J<>?& $<& 0;$0#& "#R;12O#& ?1& #%#2">=#& >& A;O1$& =1& '()\D& @#21O#& >2"<01O%]&V<1&12>&O1J1$>2;#&P>2>&1?&P>M$&=10#$%2>2&V<1&$<&"#R;12O#& O#&%1OM>&21?>J;]O&J#O&1?&#5''*;%95" 81R10#$& 21J#2=>2& V<1& J<>O=#& @#21O#& %#0>& 1?& P#=12B& d121=>& <O& 5J<>=#2&V<1R2>=#&1J#O]0;J>01O%1&I&J#O&<O&"#R;12O#&1O&%2>O$;J;]OD&

9>R1&01OJ;#O>2&V<1B&5J<>=#2&J#O%>R>&J#O&%21$&=#J<01O%#$&1OC;>=#$& P#2&1?&"#R;12O#&=1&61;O#&4O;=#&>&@#21O#B&?#$&J<>?1$&J12%;A;J>R>O&V<1& $;&$1&P2#J1=M>&1O&J#O%2>&=1&!$$>O"1B&1$%1&O#&$12M>&1_%2>=;%>=#&>&<O&P>M$& =#O=1&P<=;1$1&$<A2;2&P1O>&=1&0<12%1B&0>?%2>%#$&#&%#2%<2>$D&5$%#&$;2C;]& J#0#&21$P>?=#&P>2>&A;O>?;b>2&1?&>$;?#&P#?M%;J#D& F#2&$<&P>2%1B&6;J>2=#&F>%;+#B&1_J>OJ;??12&=1?&5J<>=#2B&01OJ;#O]&1O&<O>& 1O%21C;$%>& >?& P#2%>?& =1& O#%;J;>$& 2<$#B& 7P<%O;g& Zp5_J>OJ;??12& $#$%;1O1qB& '()*[B& V<1& 1?& 1$%>=#& 1J<>%#2;>O#& d>R2M>& C;#?>=#& 1?& >2%MJ<?#& 3)& =1& ?>&


""'

$,(-,2",,.

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

=4IGOL:Q4IK: 5OJ#O%2>0#$& V<1& 1_;$%1& ;OA#20>J;]O& #J<?%>& >?& P/R?;J#B& ?#& J<>?& O#$& P120;%1&%1O12&#%2>&C;$;]O&$#R21&1?&%10>D&9#OJ?<;0#$&V<1&d#I&5J<>=#2& I>&O#&0>O%;1O1&?>&0;$0>&J21=;R;?;=>=&=;P?#0S%;J>B&I&V<1&!$$>O"1&A<1& <O>&P;1b>&=1?&U<1"#&1O&?>&P<"O>&9#221>W@#21O#D

e<?;>O&!$$>O"1&1O&?>&10R>U>=>&=1&5J<>=#2&1O&61;O#&4O;=#D

9#O$%;%<J;]O&=1&5J<>=#2B&1O&21?>J;]O&>&?>&21C#J>J;]O&=1?&>$;?#&P#?M%;J#& >&!$$>O"1Y& 5?&>2%MJ<?#&3)&=1&O<1$%2>&9#O$%;%<J;]O&1$%>R?1J1&1?&P2;OJ;P;#&=1& O#&=1C#?<J;]OB&1$%#&$;"O;A;J>&V<1&=1$P<i$&=1&V<1&?1&d10#$&=>=#& >$;?#&>&<O>&P12$#O>B&O#&$1&?#&P#=10#$&V<;%>2D&.#&P#=M>0#$&P#O12& >& !$$>O"1& 1O& ?>$& P<12%>$& =1& ?>& 10R>U>=>& I& 1O%21"S2$1?#& >& ?#$& C12=<"#$&V<1&?#&1$%>R>O&1$P12>O=#&ZPS22D&'[D 5?&#%#2">0;1O%#&=1&?>&O>J;#O>?;=>=&1J<>%#2;>O>&>&e<?;>O&!$$>O"1&1$& 1C>?<>=#& >J%<>?01O%1& P#2& P>2%1& =1& ?>& 9#O%2>?#2M>& 1J<>%#2;>O>B& P>2>& =1J21%>2& ?>& ?1">?;=>=B& C12>J;=>=& I& 1?& J<0P?;0;1O%#& =1& ?#$& 0>O=>%#$& ?1">?1$& I& =1& ?#$& =;$%;O%#$& P2#J1=;0;1O%#$& P21C;$%#$& P#2& ?>& ?1I& P>2>& #%#2">2& <O>& O>J;#O>?;=>=D& !?& 0#01O%#& $1& d>O& 1OJ#O%2>=#& C>2;>$& A>?1OJ;>$B& <O>& =1& 1??>$& 1$& $<& P2<1R>& =1& O;C1?& =1& 1$P>+#?B& 1O& ?>& V<1& #R%<C#&)((m)((B&J<>O=#&$<&C12=>=12#&=#0;O;#&1$&p;O$<A;J;1O%1qD&

92110#$&V<1&$1&=1R;]&R<$J>2&#%2>$&01=;=>$&$#R21&?>&$>?;=>&=1&!$$>O"1B& >&%2>Ci$&=1&<O>&CM>&V<1&O#&C;#?>2>&$<$&=121Jd#$&d<0>O#$B&P12#B&>&?>&C1bB& P120;%;12>&1?&>J<12=#&J#O&1?&N@-D&4O>&=1&1$>$&>JJ;#O1$&d<R;1$1&$;=#& U<b">2& 1?& P2#J1=;0;1O%#& A2><=<?1O%#& =1& O>J;#O>?;b>J;]O& =1& !$$>O"1B& P>2>&=1%120;O>2&V<1&1$%1&12>&;OCS?;=#&I&O#&J<0P?M>&J#O&?#$&P2#J1$#$&O;& 0>O=>%#$&P21C;$%#$&P#2&?>&?1I&1J<>%#2;>O>D 5?& J>$#& =1& !$$>O"1& d>& $;=#& <O& >J#O%1J;0;1O%#& /O;J#& 1O& ?>& P#?M%;J>& 1J<>%#2;>O>D&a>&>%2>M=#&?>&>%1OJ;]O&=1&?#$&01=;#$&"?#R>?1$&I&d>&=1$>A;>=#& ?#$&P?>O1$&=1&=#$&$<P12P#%1OJ;>$&Z5$%>=#$& 4O;=#$& I& :2>O& T21%>+>[D& .#$& d>&1O$1+>=#&0<Jd>$&J#$>$&>&O;C1?&P#?M%;J#B&1O%21&1??>$B&?#&J#0P?;J>=#&V<1& 1$&>J%<>2&1O&J#O%2>&=1&?>$&P#%1OJ;>$&=1?&0<O=#&I&21C1?>2&?>$&C12=>=12>$& ;O%1OJ;#O1$&=1&J;12%#$&P#?M%;J#$D&5$%1&1$&<O&%10>&V<1&>/O&=>&0<Jd#&P#2& =;$J<%;2&IB&$#R21%#=#B&0<Jd#&=1&=#O=1&>P21O=12D ,KUKHKIGQ8: 5_J>OJ;??12&$#$%;1O1&V<1&=1C#?<J;]O&=1&!$$>O"1&>&61;O#&4O;=#&C;#?>&?>& 9#O$%;%<J;]O&=1&5J<>=#2D&Z'3&=1&>R2;?&=1&'()*[D&K.+-(7VD&61J<P12>=#& =1&d%%P$Ymm$P%OgO1D`$m0VC%& 61;O#&4O;=#&=1%;1O1&>&!$$>O"1&%2>$&21J;R;2&#2=1O&=1&1_%2>=;J;]O&=1&55D&44D& Z$DAD[D&?#+$)5'JTD&61J<P12>=#&=1&d%%P$YmmR;%D?Im'x9$Ec#

$:4/62,**,/BC:-2*,42:Z/i)D,.+2^*/F4,*S:Z/M:49)/ (,-5)L/Y/B*,/$,N-,/B49N)--:/ 5$%<=;>O%1$&=1&?>&J>2212>&=1&9;1OJ;>$&F#?M%;J>$&=1&?>&N>J<?%>=&=1&!=0;O;$%2>J;]O& I&9;1OJ;>$&F#?M%;J>$&=1&?>&4O;C12$;=>=&9>$>&:2>O=1&Z49:[D&

"*+4)9,5:;/<>=>J=<>7@/A/BC4:D,5:;/7>=>?=<>7@

F:+:;/"-52,42:H)S

5?& >221$%#& =1& !$$>O"1& A<1& <O>& 0<1$%2>& 0S$& =1& J]0#& 1?& $#J;>?;$0#& =1?&$;"?#&XX-&1$%S&=;$#?C;iO=#$1B&I&V<1&5J<>=#2&%1O=2M>&?>&#P#2%<O;=>=& =1& 21P>2>2& $<$& 122#21$& I& 01U#2>2& $<& 21?>J;]O& J#O& ?>& J#0<O;=>=& ;O%12O>J;#O>?&J#O&P>M$1$&J#0#&5$%>=#$&4O;=#$&I&:2>O&T21%>+>D&


$ , ( - , 2 " , , . ""(

()*+,*,-)./0/BI:/(%%%/':7E

!"#$%&'(#)"*+)',&-'(* .+/0)1#/*1/2$(&#'+&/* .'+'*1'"'*%)*'1/3&%' $DBEF( FS( b( Q( \^( JF( T>ENI( JF( \]^g3( \\( FLBHJA>DBFL( JF( S>( @>EEFE>( JF( %AFD@A>L( )ISWBA@>L( Q( #FS>@AIDFL( "DBFED>@AID>SFL3(JF(BFE@FE(Q(@H>EBI(>VI3(?FEBFDF@AFDBFL( >(S>(@S>LF(O6FLBACD(LI@A>S(JFS(JFL>EEISSI(SI@>S(Q(F@IDITW>( LI@A>SR3(XHA>J>(?IE(8HSAFB>(oFEEFEW>(FD(S>(*%63(EF>SAN>EID( HD(?EIQF@BI(FD(S>(@ITHDAJ>J3(@HQI(?EIJH@BI(YAD>S(YHF(S>( FDBEFX>(JF(JIL(T>DH>SFLd( 5?& P2;012& 0>O<>?& %2>%>& $#R21& ?>& J#OC;C1OJ;>& 1O%21& 0;"2>O%1$& ?>%;O#>012;J>O#$& ZC1O1b#?>O#$B& J#?#0R;>O#$B& 1O%21& #%2#$[B& V<;1O1$& ;O%12>J%/>O& 1O& ?>& J>$>& =1& >J#";=>& p4O& %1Jd#& P>2>& 1?& J>0;O#qB& >=0;O;$%2>=>&P#2&6#O>?=&T#2"1$&I&?;=12>=>&P#2&?>&A<O=>J;]O&a#">2&=1& 92;$%#B&J#O&1?&A;O&=1&P21C1O;2&I&122>=;J>2&?>&C;#?1OJ;>&=1&"iO12#&1O%21&

1??#$D&5?&$1"<O=#&0>O<>?&P21$1O%>&1$%2>%1";>$&P>2>&1?&<$#&>=1J<>=#& =1&?>$&S21>$&=1&21J21>J;]O&1&;0P?101O%>J;]O&=1&>J%;C;=>=1$&?/=;J>$B& P>2>&O;+#$m>$&>J#";=#$&1O&=;Jd#&d#">2&%10P#2>?D& 5?& %2>R>U#& $1& 21>?;b]& 1O& =#$& 1%>P>$D& -O;J;>?01O%1& $1& d;b#& <O>& ;OC1$%;">J;]O&I&1O%21">&=1&>C>OJ1$B&J#O&C>2;#$&21C;$#21$&>J#0P>+>=#$& =1&?>&=#J1O%1&>&J>2"#&=1&?>&0>%12;>D&E<1"#B&$1&1O%21">2#O&I&>P?;J>2#O& ?#$&0>O<>?1$&01OJ;#O>=#$B&=1O%2#&=1&?>&0;$0>&J>$>D& 5O&1?&J>$#&=1&?#$&O;+#$&I&O;+>$B&$1&1C;=1OJ;]&$<&1$%>=#&=1&C<?O12>R;?;=>=D& @<Jd#$&=1&1??#$&P>$>O&$<$&%>2=1$&1O&1$%1&d#">2&%10P#2>?B&0;1O%2>$& <O#&=1&$<$&P>=21$&$>?1&>&%2>R>U>2&P>2>&21<O;2&1?&=;O12#&$<A;J;1O%1&I& J#O%;O<>2&?>&%2>C1$M>&d>J;>&$<$&P>M$1$&=1&=1$%;O#n&$;O&10R>2"#B&1_;$%1O& #%2#$&V<1B&=1R;=#&>&V<1&1$&d;U#m>&=1&<O&P>=21&#&0>=21&$#?%12#m>B&$1&


$,(-,2",,.

C1O&#R?;">=#$&>&>J#0P>+>2&>&$<&P>PS&#&0>0S&1O&$<$&?>R#21$B&P#2V<1&?#$m >$&O;+#$m>$&O#&=1R1O&V<1=>2&$#?#$&1O&?>&J>$>&$;O&<O#&=1&$<$&P>=21$D&5$%#& /?%;0#&J#O??1C>&V<1&J;12%#$&O;+#$m>$&$#J;>?;J1O&01O#$&=1O%2#&=1&?>&J>$>D F>2>&J21>2&?>$&>J%;C;=>=1$&?/=;J>$B&O#$&R>$>0#$&1O&0>O<>?1$&$;0;?>21$& =1&4.-95NB&>=>P%SO=#O#$&>&?>$&1_;"1OJ;>$&=1&?#$&O;+#$m>$&0;"2>O%1$D& 5?& 0>O<>?& J#221$P#O=;1O%1& >& 1$%1& %10>& R<$J>& >%1O=12& O1J1$;=>=1$& 1OJ#O%2>=>$B& I>& $1>O& P$;J#$#J;>?1$B& P$;J#>A1J%;C>$B& =1& 21J21>J;]OB& 10#J;#O>?1$&I&P>2>&?>&1=<J>J;]O&1O&C>?#21$&I&=121Jd#$n&1$%S&=;$1+>=#& P>2>&>P?;J>2$1&1O&<O>&$10>O>B&%#0>O=#&1O&J<1O%>&1?&J#2%#&%;10P#&=1& 1$%>OJ;>&=1&?#$&O;+#$&I&O;+>$&1O&?>&J>$>&=1&>J#";=>D 5O&1?&%10>&=1&C;#?1OJ;>&=1&"iO12#B&1?&"2<P#&1OJ>2">=#&0>O%<C#&C>2;#$& >J12J>0;1O%#$&J#O&1?&$1+#2&T#2"1$B&V<;1O&1_P<$#&?#$&J>$#$&V<1&$1&d>O& $<$J;%>=#& >?& 21$P1J%#D& 5O%21& ?#$& 0S$& 21J<221O%1$& 1$%S& 1?& >J#$#& I& ?>$& >01O>b>$&P#2&P>2%1&=1&d#0R21$&d>J;>&0<U121$&$#?%12>$&V<1&P21$1O%>O& P2#R?10>$&1J#O]0;J#$&P>2>&$<$%1O%>2$1&I&P>">2&<O&P2;012&>?V<;?12&>& ?>&$>?;=>&=1&?>&J>$>D&5O&C;$%>&=1&1$%>&C<?O12>R;?;=>=B&0<Jd>$&d>O&$<A2;=#& >J#$#& $1_<>?& 1B& ;OJ?<$#B& #A12%>$& =1& =;O12#& >& J>0R;#& =1& 21?>J;#O1$& $1_<>?1$&J#O&1$>&P12$#O>D& 9>R1& =1$%>J>2& V<1& 1O& 1$%#$& J>$#$B& 0<Jd>$& C1J1$& ?>$& 0<U121$& O#& $1& ><%#;=1O%;A;J>O& J#0#& CMJ%;0>$& =1& C;#?1OJ;>& =1& "iO12#B& =1R;=#& >&

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

?>& "2>O& %2>C1$M>& P#2& ?>& V<1& d>O& P>$>=#B& ?>& J<>?& d>& =1U>=#& $1J<1?>$& P$;J#$#J;>?1$& 1O& ?>& 0>I#2M>& =1& 1??>$D& 5O& 1$%1& $1O%;=#B& P#2& 1U10P?#B& 1_;$%1O& 0/?%;P?1$& J>$#$& =1& 0<U121$& 10R>2>b>=>$& V<1B& >?& ??1">2& >& 5J<>=#2B& $#O& >R>O=#O>=>$& P#2& $<$& P>21U>$D& 5$%#& 1$& C;$%#& P#2& 1??>$& J#0#& >?"#& O#20>?n& =1$J#O#J1O& V<1& 1$%#& P<1=1& P2#=<J;2& %2><0>$& #& 1A1J%#$& P$;J#$#J;>?1$& >& ?>2"#& P?>b#D& 5?& 0>O<>?& $#R21& C;#?1OJ;>& =1& "iO12#&1$%S&=;$1+>=#&P>2>&R2;O=>2&<O&J#O#J;0;1O%#&"1O12>?&$#R21&1?& %10>B&%>O%#&>&C#?<O%>2;#$&J#0#&>&0;"2>O%1$D& N;O>?01O%1B& ?>& >P?;J>J;]O& =1& 1$%>$& "<M>$& ;O;J;]& J#O& <O>& P21C;>& $#J;>?;b>J;]O&=1&%21$&$10>O>$&U<O%#&>?&>=0;O;$%2>=#2&=1&?>&J>$>B&6#O>?=& T#2"1$B&U<O%#&J#O&V<;1OB&P#$%12;#201O%1B&$1&=;12#O&;O$%2<JJ;#O1$&=1& <$#& >& ?#$& C#?<O%>2;#$& V<1& J#?>R#2>O& 1O& ?#$& V<1d>J121$& =1& ?>& J>$>D& F>2>& 1?& 0>O<>?& =1& >J%;C;=>=1$& ?/=;J>$& 21>?;b>0#$& <O& 1O$>I#& P;?#%#& =1?&P2#"2>0>B&1$J#";1O=#&=1%120;O>=#$&U<1"#$&1&;OC;%>O=#&>&%#=#$& ?#$& O;+#$& >& P>2%;J;P>2D& !=;J;#O>?01O%1B& $1& 21>?;b]& ?>& =#O>J;]O& =1& 01=;J;O>$&P>2>&?>&1OA12012M>&=1&a#">2&=1&92;$%#D

3RU (YHO\Q 0RQFDGD $OH[D 9LOODR \ 9LYtDQ &DUWDJHQD 5$%<=;>O%1$& =1& J<>2%#& >+#& =1& ?>& J>2212>& =1& 9;1OJ;>$& F#?M%;J>$& I& 61?>J;#O1$& -O%12O>J;#O>?1$& =1& ?>& N>J<?%>=& =1& !=0;O;$%2>J;]O& I& 9;1OJ;>$& F#?M%;J>$& =1& ?>& 4O;C12$;=>=&9>$>&:2>O=1&Z49:[D

kKHH8SQKI;8:%R8H8%O8%HK:4OLGQ\I%8O;KHI8;QY8%JK%G4IUOQG;4:5%9#O&?>&>I<=>&=1&<O&01=;>=#2&;0P>2J;>?&ZC#?<O%>2;#&#&P12$#O>?&>=0;O;$%2>%;C#[&V<1&$12S& 1?&S2R;%2#&21"<?>=#2B&$1&"<;>2S&d>J;>&?>&J#O$%2<JJ;]O&J#?1J%;C>&=1&?>$&$#?<J;#O1$&>&?#$&J#OA?;J%#$D kKHH8SQKI;8:%R8H8%O8%JK;KGGQ\I%JK%G8:4:%JK%YQ4OKIGQ8D&E>&=1%1JJ;]O&1$&1$1OJ;>?D&F>2>&?#"2>2?#B&$1&=1R1O&%#0>2&1O&J<1O%>&=#$&%;P#$&=1&;O=;J>=#21$Y Z()7#$)5'*%4*%.*#;87#5% )[& NM$;J#$Y&"#?P1$B&?1$;#O1$B&0>?#$&%2>%#$n&$1&1O0>2J>&1O&1?&1$%>=#&=1&$>?<=&"1O12>?&=1&?>$&CMJ%;0>$&=1&C;#?1OJ;> '[& 5$A12>&$1_<>?Y&!J#$#B&>R<$#&I&C;#?>J;]O&$1_<>? F>2>&;=1O%;A;J>2?#$&1O&P#$;R?1$&CMJ%;0>$B&<O>&>J%;%<=&P2#A1$;#O>?&1$&;O=;$P1O$>R?1D&5O&1$1&$1O%;=#B&$1&=1R1&1$J<Jd>2&>J%;C>01O%1&>&?>&CMJ%;0>B&0#$%2>O=#& ;O%12i$&P#2&?#&V<1&21?>%>&I&$;O&;O%122<0P;2D&.#&$1&=1R1&A#2b>2&?>$&=1J?>2>J;#O1$B&O;&;OA?<;2&1O&1$%>$n&J<;=>2&?>&21>JJ;]O&10#J;#O>?&%>O%#&C12R>?&J#0#&O#& C12R>?B&I&=1$J<?P>R;?;b>2&>&?>&CMJ%;0>B&0>O%1O;1O=#&1O&>O#O;0>%#&?>&$;%<>J;]OD Z()7#$)5'*%47(*%.*#;87#5% )[& 9#0P#2%>0;1O%#$&>%MP;J#$Y&P#J>&#&O<?>&J#O1_;]O&J#O&1?&1O%#2O#B&J#O=<J%>&21%2>M=>&#&0<I&C;#?1O%>D&5$%>$&$#O&$1+>?1$&=1&%2><0>$&=1&>?"/O& %;P#&=1&>R<$#&#&C;#?1OJ;>D& F>2>& ?>& ;=1O%;A;J>J;]O& =1& 1$%#$& ;O=;J>=#21$B& $1& =1R1& >J%<>2& R>U#& ?>$& 0;$0>$& P><%>$& V<1& $1& $;"<1O& P>2>& 1$J<Jd>2& ?>& 21C1?>J;]OB& P2;OJ;P>?01O%1& %2>O$0;%;1O=#&?>&0>I#2&J>?0>B&>J%<>O=#&$;O&21>JJ;#O1$&>?>20>O%1$&I&$;O&J<?P>R;?;b>2D

"*+4)9,5:;/<?=>E=<>7@/A/BC4:D,5:;/7P=>J=<>7@/0/F:+:;/S:4+).K,/5)/-,./,N+:4,.

")#

*


$,(-,2",,.

()*+,*,-)./0/BI:/(%%%/':7E

")"

$S( LAXHAFDBF( BFeBI( FL( HD>( D>EE>@ACD( GHF( EFKAL>( >( BE>KcL( JF( @AD@I( BFLBATIDAIL( JF( THUFEFL( LHL( Fe?FEAFD@A>L( @ITI( KW@BAT>L( JF( >MHLI( LFeH>S( FD( S>( ADY>D@A>d( ,>( EFKALACD( JF( FLBIL(@>LIL3(ADTFELIL(FD(HD(@IDBFeBI(Y>TASA>E3(?EFBFDJFD( FUFT?SAYA@>E( S>( AT?HDAJ>J( JF( S>( @H>S( JALYEHB>D( SIL( KA@BAT>EAIL3( Q( S>L( @IDLF@HFD@A>L( GHF( JF( ?IE( KAJ>( ?HFJFD( Fe?FEATFDB>E(S>L(KW@BAT>Ld(/F(@ID@SHQF(@ID(HD>(EFYSFeACD( GHF( ADKAB>( >S( SF@BIE( >( IMLFEK>E( FLB>( ?EIMSFTpBA@>( JF( @>Ep@BFE(FLBEH@BHE>S(JFLJF(SI(GHF(FL`(HD>(KHSDFE>@ACD(JF( SIL(JFEF@jIL(jHT>DILd

* 7 / # 1 ) 6 + ** .) +/89

" ) * / *45,*(

) . * * * * * * * * * * * ****

** * * * *


"))

$,(-,2",,.

pâ?&O#&12>&sP12A1J%#tB&P12#DDDqn&>$M&;O;J;>R>&1?&=;$J<2$#&=1&>V<1?&A<O12>?&1O& 1?&V<1&O#$&1$%SR>0#$&=1$P;=;1O=#&=1&<O&P>%2;>2J>D&pâ?&O#&12>&sP12A1J%#tB& P12#&12>&<O&R<1O&d#0R21qD&!V<1??>&A2>$1&01&>J#0P>+]&=<2>O%1&%#=>& ?>& J1210#O;>D& 9<>O=#& 21%#0>R>& 1?& $1O=12#& >& J>$>B& J>0;O>O=#& P#2& ?>$& J>??1$& d/01=>$& =1& 1$1& P1V<1+#& I& 21J?<;=#& P<1R?#& =1& ?>& J#$%>& 1J<>%#2;>O>B&01&>$>?%>2#O&?>$&=<=>$&I&?#$&21J<12=#$D

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

!V<1?&C12>O#&=1&'())B&1$%>??>O=#&1O&??>O%#B&01&J#OA1$]&V<1&d>RM>&$;=#& C;#?>=>&P#2&$<&P2;0#&J<>O=#&%1OM>&=#J1&>+#$D&@1&J#O%]&J#O&0S$&21J1?#& %#=>CM>&V<1&$<&P>=21&%>0R;iO&;O%1O%>R>&%#J>2?>B&=1$=1&V<1&12>&0<I& P1V<1+>D&.>=;1&%#0]&1O&J<1O%>&$<$&;O%1O%#$&=1&$<;J;=;#&I&$<$&J#2%1$& 1O& ?>$& 0<+1J>$D& 9<>O=#& ?>& C12=>=& O#& P<=#& $12& 21%1O;=>B& $<& A>0;?;>& ?#&O1"]n&I&>?&=M>&=1&d#I&?#&$;"<1O&d>J;1O=#D&7<&P>=21&12>&<O&d#0R21& 21J#O#J;=#B&%2>R>U>=#2B&V<1&P#2&$<P<1$%#&O#&12>&P12A1J%#D

@;&01O%1&O#&P<=#&1C;%>2&21J21>2&?#$&%1$%;0#O;#$D

61J#2=i&%>0R;iO&>&!=1?>;=>B&?>&R1??>&Jd;J>&=1&=;1J;$;1%1& >+#$B& V<;1O& J#OC;CM>&J#O&J;OJ#&d120>O#$&I&<O>&0>=21&=#"0S%;J>n&1??>&=1J;=;]&d<;2& =1&$<&d#">2&P>2>&1C;%>2&V<1&$<&P>=21&?>&C;#?>2>D&5O&P?1O#&=1$1$P12#& >J1P%]&J>$>2$1&2SP;=>01O%1B&2#">O=#&V<1&=1&1$%1&0#=#&?>&P1$>=;??>& J1$>2>D&F12#&$1&1V<;C#J>R>B&=1&O>=>&?1&$;2C;]D&7<&P>=21&J#O%2>%]&>&<O& >$1$;O#&>&$<1?=#&P>2>&0>%>2&>&$<&21J;iO&1$%21O>=#&0>2;=#D&j&1??>B&$;O& =;O12#B&J#O&P#J>&1=<J>J;]O&I&1$J>$>$&1$P12>Ob>$B&=1J;=;]&d<;2&=1&?>& P2#C;OJ;>D&9#OJ;R;]&>&=#$&d;U>$&0<U121$&V<1&O<OJ>&P<=#&=1U>2&>&$#?>$& J#O&O>=;1B&$;O&V<1&?>&>O$;1=>=&I&?>&>O"<$%;>&?>&P12$;"<;12>OD&5??>&O<OJ>& P<=#&J#OA1$>2&V<1&>V<1?&d#0R21&;O%>Jd>R?1&12>&<O&J12=#&=1P2>C>=#D& !=1?>;=>&%;1O1&L(&>+#$B&P12#&>V<1??>&%>2=1&J<>O=#&01&?#&J#O%]B&??#2]& %#=#&?#&V<1&$<$&=;1J;$;1%1&O#&?1&P120;%;12#OD @;&P2;0>&!O%#O1??>&C;O#&>&0;&010#2;>D&7;10P21&d>&%1O;=#&A>0>&=1& s?#J>tD& @;?1$& =1& C1J1$& 01& ;0P;=;12#O& %2>%>2?>B& P#2V<1& 12>& <O>& 0>?>& ;OA?<1OJ;>D& .>=;1& >%;O]& >& J#O%>201& V<1& =1$=1& ?#$& =#J1& $<A2M>& ?#$& >R<$#$&=1&$<&R;$>R<1?#&I&=1?&1$P#$#&=1&$<&%M>D&.>=;1&%<C#&1?&C>?#2&=1& 21J#O#J12& V<1& J<>O=#& 1??>& $1& ?#& J#O%]& >& $<& 0>=21B& 1$%>& ?>& %2>%]& =1& 01O%;2#$>D&@;&P2;0>&J#OJ;R;]&>&$<&P2;012>&d;U>&>&?#$&V<;OJ1&>+#$B&R>U#& 1?&1A1J%#&=1&?>$&=2#">$D&F>$]&P#2&%21$&J1O%2#$&=1&21d>R;?;%>J;]O&I&d#IB& >&$<$&'^B&$1&1OJ<1O%2>&1$%>OJ>=>&1O&<O>&21?>J;]O&1O&?>&V<1&1$&CMJ%;0>& =1&C;#?1OJ;>&=1&"iO12#D c>0R;iO&21J#2=i&J#O&1$P1J;>?&=#?#2&1?&%1$%;0#O;#&=1&<O>&>0;">&0M>&0<I& J12J>O>&J#O&?>&V<1&J21JMB&I&>&V<;1O&>P21O=M&>&V<1212&P2#A<O=>01O%1D&

F#2&#%2#&?>=#B&1?&%1$%;0#O;#&=1&!2;>=O>&A<1&=<2M$;0#&=1&>$;0;?>2B&V<;bS& 1?&0S$&1$%2101J1=#2&=1&%#=#$D&p5?&$>P#qB&12>&>$M&J#0#&?1&O#0R2>R>O& >& >V<1?& d#0R21& =1& J>0P#& V<1& %1OM>& )H& d;U#$B& #Jd#& 12>O& %#=>$& 0<U121$B& 1O%21& 1??>$B& !2;>=O>D& E>& "1O%1& 1O& 1?& P<1R?#& $1& P21"<O%>R>& P#2V<1&?>$&d;U>$&=1?&$<$#=;Jd#&$1&1O>0#2>R>O&I&J>$>R>O&U#C1OJ;%>$D& !2;>=O>& %>0R;iO& $1& ?#& J<1$%;#O>R>B& d>$%>& V<1& J#0P21O=;]& ?>& 2>b]O& 1O&1?&;OC;12O#&=1&$<$&)H&>+#$D&5?&>R<$#&$1_<>?&12>&J#O$1O%;=#&P#2&$<& 0>=21&I&=10S$&d120>O#$B&V<;1O1$&>2"<01O%>R>O&V<1&$;&?#&=1%1OM>OB& P#$;R?101O%1&?#$&0>%>R>D&!2;>=O>&A<1&21$J>%>=>&P#2&<O&%122>%1O;1O%1&>& ?#$&=;1J;#Jd#&>+#$B&J<>O=#&>/O&O#&$>RM>&?112B&O;&1$J2;R;2B&I&O<OJ>&d>RM>& P;$>=#&<O>&1$J<1?>D&5?&=M>&V<1&1OJ#O%2>2#O&1?&J>=SC12&=1&$<&P>=21&>& #2;??>$&=1?&2M#B&??#2]&=1&>?;C;#D !V<1??>&%>2=1&J#0P21O=M&V<1&R>U#&1$>&A>Jd>=>&=1&pO#&12>&1?&d#0R21& P12A1J%#B& P12#& 12>& R<1O#q& $1& 1$J#O=1& 01bV<;O=>=B& ;O=;A121OJ;>B& ;0P<O;=>=D&!V<1??#$&P>%2;>2J>$&$12SO&1O%122>=#$&$;10P21&J#O&d#O#21$B& 0;1O%2>$& $<& CMJ%;0>& I& $<P12C;C;1O%1$& >P21O=1O& >& U<O%>2& ?>$& P;1b>$& 2#%>$&V<1&?1$&V<1=>OB&P>2>&?#"2>2&$#R21C;C;2&1O&<O&0<O=#&V<1&O#&?>$& 1O%;1O=1B&O;&V<;121&d>J12?#D&j&1$1&J;J?#&0>?=;%#B&1O&1?&J<>?&?>$&CMJ%;0>$& =1& >R<$#& $1_<>?& $#O& #R?;">=>$& >& J>??>2B& >& $12& $<0;$>$B& O#& =1U>2S& =1& >0P>2>2$1& O<OJ>& R>U#& 1?& J#O$1O%;0;1O%#& =1& $<$& >??1">=#$B& =1& ?>$& ;O$%;%<J;#O1$B&=1?&0;$0M$;0#&5$%>=#D 5?&>R<$#&$1_<>?&O#&1$&<O&=1A1J%#B&O#&1$&<O>&0>OJd>&V<1&P<1=1&$12& ;"O#2>=>&1O&1?&d;$%#2;>?&=1&V<;1O1$&?#&J#01%1OD&5$&<O>&%2>O$"21$;]O& >& ?#$& =121Jd#$& A<O=>01O%>?1$& =1& ?>& CMJ%;0>D& .#& ;0P#2%>& V<;1O& ?#& J#OJ;R>&J#0#&P12A1J%#&#&O#B&<O&>R<$>=#2&1$&<O&%2>O$"21$#2&1O&%#=#$& ?#$&O;C1?1$n&=>&;"<>?&$;&1$&A>0;?;>2B&>??1">=#&#&>0;"#D&5?&0#O$%2<#&$;"<1& $;1O=#&1?&0;$0#B&%;1O1&2#$%2#&d<0>O#&I&$#O2;$>&JMO;J>D

$:4/Q,Y,*,/q,RD4,*: 5$%<=;>O%1& =1& J<>2%#& >+#& =1& ?>& J>2212>& =1& 9;1OJ;>$& F#?M%;J>$& I& 61?>J;#O1$& -O%12O>J;#O>?1$& =1& ?>& N>J<?%>=& =1& !=0;O;$%2>J;]O&=1&?>&4O;C12$;=>=&9>$>&:2>O=1&Z49:[D

"*+4)9,5:;/<E=>E=<>7@/A/BC4:D,5:;/7P=>J=<>7@/0/%-N.+4,S2T*/F4))C2k

4O>& O;+>& P1V<1+>& =1& =#J1& >+#$B& $1O%>=>& 1O& ?>$& 2#=;??>$& =1& $<& >R<1?#D& 7;1O=#& %#J>=>& =1& >22;R>& >R>U#B& $;O%;1O=#& 0;1=#& I& >$J#n& P21"<O%SO=#?1ä& >& ?#$& =;#$1$& k>?& 0;$0#& %;10P#B& 1O& $<& 01O%1kV<i& $>?;=>$&P#=M>O&V<1=>2?1B&P<1$&$<&P>=21&12>&>?J#d]?;J#&I&$<&0>=21&?>& d>RM>&>R>O=#O>=#D&5$>&0<Jd>Jd>&J#01Ob>R>&>&J21J12B&I&$<$&J>21OJ;>$& >A1J%;C>$&J#01Ob>R>O&>&J>2J#012?1&1?&$12D&!&?#$&=;1J;$i;$&>+#$&V<1=]& 10R>2>b>=>D& !& ?#$& C1;O%1& $1& J#OC;2%;]& 1O& P2#$%;%<%>B& >& ?#$& '3& I>& 12>& >=;J%>&>?&>?J#d#?&I&?>&J#J>MO>D&5$>&O;+>&P1V<1+>&$1&??>0>&@>2M>&I&1$& 0;&%M>D


$ , ( - , 2 " , , . ")+

()*+,*,-)./0/BI:/(%%%/':7E

1KACT@DB<*CL*?@IHK<* @*EF@UVA*BC

3(/#E1("1")

,>( T>QIEW>( JF( LFEFL( jHT>DIL( BE>M>U>TIL( @IDLB>DBFTFDBF( ?IE( DHFLBE>( LH?FE>@ACD3( LAFDJI( S>( FJH@>@ACD( S>( jFEE>TAFDB>( ?IE( Fe@FSFD@A>( ?>E>( >S@>DN>ES>d(/AD(FTM>EXI3(FS(LALBFT>(FJH@>BAKI(F@H>BIEA>DI(>BE>KAFL>(HD>( LABH>@ACD( >S>ET>DBF3( >LFDB>J>( FD( JIL( ?EIMSFT>L( FL?F@WYA@IL`( FeALBF( HD>( Y>SB>(JF(@IDBADHAJ>J(FL@IS>E(?FE?FBH>J>(?IE(HD>(@EALAL(JF(>?EFDJAN>UF3(Q(LF( FKAJFD@A>(HD>(DF@FLAJ>J(AT?FE>DBF(JF(>J>?B>E(S>(FJH@>@ACD(>(S>(LI@AFJ>J( JFS(@IDI@ATAFDBId !<O&J<>O=#&1?&>JJ1$#&>&$12C;J;#$&1=<J>%;C#$&d>&01U#2>=#&1O&?>&/?%;0>&=iJ>=>B&O#&1_;$%1& $1"<2;=>=&=1&V<1&$<$&P>2%;J;P>O%1$&1$%iO&>P21O=;1O=#D&F#2&1$#B&>&P1$>2&=1&V<1&?>&0>I#2M>&


$,(-,2",,.

=1&O;+#$&I&U]C1O1$&1J<>%#2;>O#$&1$%SO&1$J#?>2;b>=#$B&$#?#&1?&'*~&=1& 1??#$& >?J>Ob]& <O& O;C1?& =1& =1$10P1+#& RS$;J#& 1O& @>%10S%;J>B& 1O& ?>$& P2<1R>$&F-7!W8&Z-O1C>?B&'()\[D&4O&$;OO/012#&=1&A>J%#21$&;OJ;=1&1O&?#$& 21$<?%>=#$B&I&J#0P>2>2O#$&J#O&1?&21$%#&=1&21>?;=>=1$&?>%;O#>012;J>O>$& $12M>&J#O%2>P2#=<J1O%1D&.#&#R$%>O%1B&1?&P2#R?10>&=1&2>Mb&1$&#%2#D E>&#A12%>&=1&?#$&$;$%10>$&1=<J>%;C#$&%2>=;J;#O>?1$&O#&C>&>&?>&P>2&J#O&?#& V<1&?>$&1J#O#0M>$&=1?&$;"?#&XX-&=10>O=>OD&5$%1&=1$A>$1&$;"O;A;J>&V<1& ?#$&>?<0O#$&O#&$#?#&O#&1$%SO&>P21O=;1O=#B&$;O#&V<1&?#$&J#O%1O;=#$& ;0P>2%;=#$& O#& $1& 21?>J;#O>O& J#O& ?>$& d>R;?;=>=1$& 21V<12;=>$& P>2>& 1?& 012J>=#& ?>R#2>?& >J%<>?B& R>$>=#& 1O& 1?& J#O#J;0;1O%#& I& ?>& ;OO#C>J;]OD& 5?& 0#=1?#& %2>=;J;#O>?& =1& 1=<J>J;]O& A<1& 1$%2<J%<2>=#& P>2>& $12C;2& ?>$& O1J1$;=>=1$& =1& ?>& ;O=<$%2;>?;b>J;]OD& F#2& 1$#& 1$%>O=>2;b>& %#=#$& $<$& P2#J1$#$& I& P2;#2;b>& ?>& ;O%1?;"1OJ;>& ?]";J#W0>%10S%;J>B& 0;1O%2>$& >O;V<;?>&?>&J21>%;C;=>=&I&=1$C>?#2;b>&?>&>P2#_;0>J;]O&>&#%2#$&%;P#$&=1& ;O%1?;"1OJ;>&Z7%1Pd1O$#OB&'()([D E>$&21"?>$&=1?&U<1"#&d>O&J>0R;>=#D&E>$&O<1C>$&%1JO#?#"M>$&O#$&P120;%1O& >JJ1=12& >?& J#O#J;0;1O%#& J#O& ;O01=;>%1bD& 5$%#& d>& 21J#OA;"<2>=#& ?>$& =;OS0;J>$& 1O& ?>$& ><?>$B& I& d>& ;O%1O$;A;J>=#& ?>& J#0P1%;%;C;=>=& =1& ?#$& P2#A1$;#O>?1$&>?&;O$12%>2$1&1O&<O&P<1$%#&=1&%2>R>U#D&!&=;A121OJ;>&=1?& $;"?#&P>$>=#B&%1O12&<O&%M%<?#&d#I&O#&>$1"<2>&O>=>D&9>R1&P21"<O%>2O#$B& vJ]0#&P#=10#$&P21%1O=12&P21P>2>2O#$&P>2>&1?&A<%<2#&J#O&d122>0;1O%>$& =1?&P>$>=#w&7;0P?101O%1B&1$&;OC;>R?1D& !& P>2%;2& =1& 1$%>& 21>?;=>=& O>J1& p5=<JSO=#O#$qB& J21>=>& J#0#& <O>& 21=& >?%12O>%;C>& =1& >P21O=;b>U1B& V<1& =1$>22#??>& d>R;?;=>=1$& V<1& 1?& $;$%10>&1=<J>%;C#&1J<>%#2;>O#&O#&#A21J1D&lP12>&1O&?#$&1$P>J;#$&V<1& d;$%]2;J>01O%1& d>O& %1O;=#& 1?& =1R12& =1& 21=1A;O;2& >& ?>& $#J;1=>=B& ?>$& <O;C12$;=>=1$B&J#O&1?&A;O&=1&1V<;P>2&>&?>$&P12$#O>$&J#O&d122>0;1O%>$& V<1& ?1$& P120;%>& $<P12>2$1D& F>2>& 1$%#B& C;OJ<?>0#$& >& =#$& >J%#21$& 1$1OJ;>?1$&1O&J<>?V<;12&<O;C12$;=>=Y&?#$&1$%<=;>O%1$&I&1?&P12$#O>?&=1& 712C;J;#$&:1O12>?1$D&7#O&>J%#21$&J#O&21>?;=>=1$&0<I&=;$%;O%>$B&V<1&$1& =1$1OC<1?C1O&1O&<O&0;$0#&J#O%1_%#&I&V<1&%2>R>U>O&P#2&$<&J21J;0;1O%#& I&1?&=1&$<$&A>0;?;>$D& 5$P1JMA;J>01O%1B& 21J?<%>0#$& I& J>P>J;%>0#$& >& ?#$& 01U#21$& P12A;?1$& <O;C12$;%>2;#$&I&?#$&10P>21U>0#$&J#O&?#$&d;U#$&=1?&P12$#O>?&=1&$12C;J;#$D& 71&R<$J>&V<1&1?&<O;C12$;%>2;#&10P#=121&>?&O;+#&J#O&<O>&01O%>?;=>=&=1& pj#&P<1=#qB&I&V<1&U<O%#$&;=1O%;A;V<1O&P2#R?10>$&V<1&?1$&>A1J%>&1O&$<& J#%;=;>O;=>=B&P2#P#O">O&$#?<J;#O1$&J21>%;C>$&I&?>$&P#O">O&1O&>JJ;]OD& 9#O&1$%#&">2>O%;b>0#$&V<1&>0R#$&P#%1OJ;1O&$<&10P>%M>B&J#?>R#2>J;]OB& P1O$>0;1O%#&J2M%;J#B&J21>%;C;=>=&I&J#0<O;J>J;]OB&0;1O%2>$&21$<1?C1O& P2#R?10>$&J#0P?1U#$&<%;?;b>O=#&)*%7&(4-,7(V7(&B&V<1B&$1"/O&1?&y#2?=&

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

5J#O#0;J&N#2<0&Z'()^[B&J#O$%;%<I1&?>$&d>R;?;=>=1$&=1&0>I#2&=10>O=>& 1O&?#$&P2]_;0#$&>+#$D&c#=#&1$%#&$1&?#"2>&>&%2>Ci$&=1&?>&01%#=#?#"M>& P2#P<1$%>& P#2& 81$;"O& N#2& 9d>O"1B& =1& ?>& V<1& 5=<JSO=#O#$& 1$& 21P21$1O%>O%1&1O&5J<>=#2D & !&?>2"#&P?>b#B&J#O$1"<;0#$&P2#0#C12&1O&O;+#$&<O>&J;<=>=>OM>&>J%;C>B& 0;1O%2>$& 0>P1>0#$& I& =1$>22#??>0#$& ?>$& J>P>J;=>=1$& =1& =;$%;O%#$& R>22;#$&=1&:<>I>V<;?D&5$%#&P120;%;2S&21<O;2&1C;=1OJ;>&C>?;#$>&P>2>&?>& A#20<?>J;]O&=1&P#?M%;J>$&P/R?;J>$&=1$=1&?>&P>2%;J;P>J;]O&=1&J;<=>=>O#$D& !&?>&C1bB&?#$&<O;C12$;%>2;#$&P#O1O&$<$&%>?1O%#$&>?&$12C;J;#&=1&#%2#$&I& A#2%>?1J1O& $<$& d>R;?;=>=1$& P2#A1$;#O>?1$B& 01=;>O%1& <O& >P21O=;b>U1& J#O%;O<#&I&1_P12;1OJ;>?D&81&0#=#&"1O12>?B&21=<J;0#$&R21Jd>$&$#J;>?1$& 0;1O%2>$&O#$&>J12J>0#$&>&?#$&0;10R2#$&=1&?>&J#0<O;=>=&<O;C12$;%>2;>D 5?&P2#"2>0>&$1&d>&>P?;J>=#&1O&?>&49:&=1$=1&1?&'()^B&"2>J;>$&>?&%2>R>U#& J#?>R#2>%;C#&=1&P12$#O>$&P21#J<P>=>$&P#2&>$1"<2>2&V<1&%#=#&1?&V<1& V<;12>B& $1& $<P121D& a10#$& 21J#P;?>=#& d;$%#2;>$& V<1& 1C;=1OJ;>O& V<1& 5=<JSO=#O#$&A<OJ;#O>&I&1$%S&?;$%#&P>2>&$12&J#0P>2%;=#D& 8>I2>B& d;U>& =1& e>;01& 9d;?>B& 21<O;]& >& $<$& C1J;O#$& P>2>& 01U#2>2& ?>& >P>2;1OJ;>& =1& $<& R>22;#B& J21>O=#& U>2=;O1$& J#O& 0>J1%12#$& 21J;J?>=#$D& E#21O>B&d;U>&=1&F1=2#&:<12212#B&P2#P<$#&A<O=>2&<O>&1$J<1?>&J#0<O;%>2;>& =1&=>Ob>&P>2>&?#$&U]C1O1$&=1&9d#O"]OD&@>I%1B&O;1%>&=1&,MJ%#2&91C>??#$B& %<C#&$<&P2;012>&P2SJ%;J>&P21P2#A1$;#O>?&>O%1$&=1&$>?;2&=1?&J#?1";#D&c#=#& 1$%#B&I&0S$B&d>&$;=#&P#$;R?1&"2>J;>$&>&?>&J#O$#?;=>J;]O&=1&CMOJ<?#$&V<1& P2<1R>O&V<1&1?&J>0R;#&J#0;1Ob>&1O&<O#&I&$1&J#0P>2%1&<O#&>&<O#D ,KUKHKIGQ8:% -O1C>?D&Z'()\[D&-O1C>?&P21$1O%]&21$<?%>=#$&=1&F-7!W8&z5O%2>=>&=1&R?#"|D& 61J<P12>=#&=1&d%%P$YmmR;%D?Im'K>5!'l& 7%1Pd1O$#OB& !D& ZF2#=<J%#2>[D& & Z'()([D& B,$(&7(&4 *)+#$-75(4 .$'$)7&9%4 zc58|D&81&d%%P$YmmR;%D?Im)0bF"#x& y#2?=&5J#O#0;J&N#2<0D&Z'()Q[D&J,*4P+-+'*4584M5>%/4?9.25=9*(-64KV722%4 $()4 D5'V85'#*4 K-'$-*&=4 85'4 -,*4 P5+'-,4 Z()+%-'7$24 A*152+-75("4 61J<P12>=#&=1&d%%P$YmmR;%D?Im)OAQ?j-

$:4/MN-2:/%*+42,9:/%L]N2)45: 5$%<=;>O%1&=1&J<>2%#&>+#&=1&9;1OJ;>$&F#?M%;J>$&I&61?>J;#O1$& -O%12O>J;#O>?1$& =1& ?>& N>J<?%>=& =1& !=0;O;$%2>J;]O& I& 9;1OJ;>$& F#?M%;J>$& =1& ?>& 4O;C12$;=>=& 9>$>& :2>O=1& Z49:[D& 9##2=;O>=#2& !=0;O;$%2>%;C#& =1& 5=<JSO=#O#$D& 9>P>J;%>=#2&1O&N<O=>J;]O&5=/J>%1D

"*+4)9,5:;/>@=>J=<>7@/A/BC4:D,5:;/<8=>J=<>7@/0/F:+:.;/$,N-)++)/i^*SO)L/Y/"3)-Y*/'2)+:

")$


()*+,*,-)./0/BI:/(%%%/':7E

$ , ( - , 2 " , , . ")%

,L*UK@NC*KBC@LW+ %$+@"%FC&#$+.?$% 8 $D( T>ENI( JF( \]^g( BHKF( S>( I?IEBHDAJ>J( JF( ?>EBA@A?>E( FD( FS( 1IJFSI('>@AID>S(JF(S>L('>@AIDFL(*DAJ>L(Z'1*'3(?IE(LHL(LAXS>L( FD(ADXScL[3(HD>(LATHS>@ACD(>@>JcTA@>(?>E>(HDAKFELAB>EAIL(JF( JAYFEFDBFL(?>WLFL3(S>(@H>S(LF(EF>SAN>(@>J>(>VI(FD(K>EA>L(@AHJ>JFLd( $D(FLB>(I@>LACD3(YHATIL(>('HFK>(4IEq3($LB>JIL(*DAJILd 81$P<i$&=1&21J#2212&?>&J;<=>=B&J#O&1?&P2#P]$;%#&=1&21A#2b>2&O<1$%2>$& J>P>J;=>=1$& I& >0P?;>2& O<1$%2>& 21=& =1& J#O%>J%#$B& >$;$%M& U<O%#& >& 0;$& J#0P>+12#$& >& ?>$& >J%;C;=>=1$& =;P?#0S%;J>$& #A21J;=>$& P#2& 1?& .@4.n& 1O%21& 1$%>$B& <O>& U#2O>=>& 0>%<%;O>& P>2>& =1$>22#??>2& 1$%2>%1";>$& =1& %2>R>U#&=1&25>>=B&>O%1$&=1&?>&P2;012>&$1$;]OD& 9<>O=#&>$;$%M&P#2&P2;012>&C1b&>?&@#=1?#&1O&1?&'()\B&1$%>R>&1$%21$>=>& P#2& %1O12& V<1& d>R?>2& J#O& =1$J#O#J;=#$& I& 1O& <O& ;=;#0>& =;A121O%1D& 81R#&>=0;%;2&V<1&1O&1$>&#J>$;]OB&1?&>0R;1O%1&A<1&J#2=;>?&I&>0;$%#$#B& $;O& 10R>2"#B& J#0#& #J<221& J#O& J<>?V<;12& $12& d<0>O#B& ?#$& O12C;#$& $1&>P#=12>2#O&=1&0MD&5O&J>0R;#B&1O&1?&'()*&k0;&$1"<O=#&.@4.k& A<1& %#%>?01O%1& =;$%;O%#n& O#$& =1$1OC#?C;0#$& P12A1J%>01O%1& I& $;O& =;A;J<?%>=1$B& I& 1$%#& $1& C;#& P?>$0>=#& $;0R]?;J>01O%1& 1O& 1?& P210;#& p81?1">J;]O&=;$%;O"<;=>q&V<1&">O>0#$&J#0#&1V<;P#D N<1& <O& "2>O& d#O#2& 21P21$1O%>2& O<1C>01O%1& >& ?>& 4O;C12$;=>=& 9>$>& :2>O=1&Z49:[&I&>?&5J<>=#2&1O&<O>&J#OA121OJ;>&;O%12O>J;#O>?&=1&%>O%>& 0>"O;%<=& 1& ;0P#2%>OJ;>D& @;& 1_P12;1OJ;>& A<1& 0<I& 1O2;V<1J1=#2>D&

!=10S$& =1& P#=12& P2>J%;J>2& 1?& ;O"?i$B& ?>& =;OS0;J>& =1?& 1OJ<1O%2#& 01& P120;%;]&21?>J;#O>201&J#O&<O&"2<P#&=;C12$#&=1&P12$#O>$B&J#O&%>?1O%#B& 1O%<$;>$%>$&IB&$#R21&%#=#B&0#%;C>=>$&P#2&1?&;O%12i$&=1&J21>2&I&=1$>22#??>2& $#?<J;#O1$&A?1_;R?1$&1&;OO#C>=#2>$&P>2>&?#$&P2#R?10>$&21>?1$&V<1&%2>%>& ?>& l.4D& E>& =;P?#0>J;>B& 1O& 0;& #P;O;]OB& 1$& <O>& J;1OJ;>& V<1& P<1=1& $12& P2>J%;J>=>&1O&J<>?V<;12&$;%<>J;]OD 5O&1?&.@4.B&P#2&1U10P?#B&=#$&>$P1J%#$&V<1&d1&P#=;=#&21$J>%>2&P>2>& >P?;J>2?#$&1O&1?&J>0P#&?>R#2>?&$#O&?#$&$;"<;1O%1$Y&P2#%1"12&?#$&P2#P;#$& ;O%121$1$&IB&>?&0;$0#&%;10P#B&1O%>R?>2&<O>&21?>J;]O&P2#=<J%;C>&J#O&0;$& J#0P>+12#$D&5O&1?&%2>O$J<2$#&=1&0;&C;=>&P2#A1$;#O>?&01&d1&=1$10P1+>=#& 1O&C>2;#$&%2>R>U#$B&1O&?#$&V<1&d1&P#=;=#&<%;?;b>2&=;Jd#$&A>J%#21$&P>2>& J21>2& <O>& J##P12>J;]O& =;OS0;J>D& E>& #J<P>J;]O& 0S$& ;O%121$>O%1& V<1& 21>?;Ji&A<1&J#0#&J#?>R#2>=#2>&1O&1?&S21>&=1&J#0<O;J>J;]O&I&>OS?;$;$& P#?M%;J#&1O&<O>&J>0P>+>&P>2>&?>$&1?1JJ;#O1$&$1JJ;#O>?1$&=1&5J<>=#2B&1O& J<I#&P12;#=#&">Oi&0<Jd#&J#O#J;0;1O%#&I&J#OA;>Ob>&1O&0MD 5?& 1U12J;J;#& P#?M%;J#& 21$<?%>& ;0P12;#$#n& 1$& ;0P#2%>O%1& $12& 2>J;#O>?B& P2SJ%;J#&IB&$#R21&%#=#B&21>?;$%>D&5O&?>&>J%<>?;=>=B&?>&$#J;1=>=&=10>O=>& A2>OV<1b>B&J>P>J;=>=&I&J#0P2#0;$#&P>2>&>C>Ob>2&1O&?>&R/$V<1=>&=1& $#?<J;#O1$&A21O%1&>&?#$&=1$>AM#$&J#0<O1$&V<1&21V<;121O&=1&<O&1$A<12b#& J#?1J%;C#D&E>&iP#J>&1?1J%#2>?&A<1&<O>&R>%>??>&J#0<O;J>J;#O>?B&%1OM>0#$& V<1&J#O%>2&<O>&d;$%#2;>&J#O&<O&$;"O;A;J>=#&V<1&J#O1J%1&=;21J%>01O%1& J#O&1?&P/R?;J#&#RU1%;C#D&


")&

$,(-,2",,.

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

G

nA/A"

"*+4)9,5:;/<8=>J=<>7@/A/BC4:D,5:;/<@=>J=<>7@/0/F:+:.;/S:4+).K,/5)/-,/,N+:4,

)D& E>&><%#2>&I&$<$&J#0P>+12#$&U<O%#&>&$<&P2#A1$#2>&!O=21>& T>?=>B&?<1"#&=1&">O>2&1?&P210;#&=1&=1?1">J;]O&=;$%;O"<;=> E>$& P2#P<1$%>$& =1RM>O& $12& 21>?1$B& =>2& 21$<?%>=#$& =1& J>?;=>=& I& ">2>O%;b>2& ?>& "#R12O>R;?;=>=& =10#J2S%;J>& 1O& 1?& A<%<2#D& 7;& >?"#& d1& >P21O=;=#B& 1$& V<1& 1?& ;=1>?;$0#&=1?&.@4.&O#&%;1O1&J>R;=>&1O&1?&0<O=#&21>?D&5?&J#O$1O$#&O#&$1&?#"2>& 2SP;=>01O%1B&J#0#&#J<221&1O&1?&@#=1?#n&d>I&V<1&>U<$%>2&P12;]=;J>01O%1&?>$& =1J;$;#O1$&>&?>$&J;2J<O$%>OJ;>$&J>0R;>O%1$&I&?>$&>0;$%>=1$&O#&$#O&=<2>=12>$D& F1$1&>&>V<1??#B&d>I&>$P1J%#$&=1$%>J>R?1$&V<1&J#O%;O/>O&$;1O=#&>P?;J>R?1$&1O& ?>&P#?M%;J>D&

'D& 81& ;bV<;12=>& >& =121Jd>Y& E;b& ,i?1bB& @>2M>& F><?>& 7>?0#OB& F>#?>&6#=2M"<1b&I&?>&><%#2>D HD& T2;>O>&1O&?>&!$>0R?1>&:1O12>?&=1&?>&l2">O;b>J;]O&=1&?>$& .>J;#O1$&4O;=>$

5O&?#$&=#$&.@4.&V<1&d1&P>2%;J;P>=#B&1O%1O=M&?>&;0P#2%>OJ;>&=1&21J#O#J12&1?& P1$#&=1&<O>&#P;O;]O&=;A121O%1B&$12&21$P#O$>R?1&J#O&?>&;0>"1O&=1&?>&;O$%;%<J;]O& V<1&21P21$1O%>$&I&>&21$#?C12&J#OA?;J%#$&>&%2>Ci$&=1&?>&O1"#J;>J;]O&I&?>&01=;>J;]OD E#$&C;>U1$&>J>=i0;J#$B&$;O&=<=>B&%1&1O$1+>O&J]0#&1OA21O%>2&%<&C;=>&P2#A1$;#O>?& I& P12$#O>?D& 7#O& ;OJ21MR?1$& 1_P12;1OJ;>$& ;O%12O>J;#O>?1$& V<1& %1& P120;%1O& ;O%12>J%<>2&J#O&P12$#O>$&=1&=;A121O%1$&#2M"1O1$&I&=1&%#=>$&P>2%1$&=1?&0<O=#D& 7;&%;1O1O&?>&#P#2%<O;=>=B&?#$&;OC;%#&>&1O2;V<1J12&$<&1=<J>J;]OB&1$%#I&$1"<2>&=1& V<1&?#$&R1O1A;J;>2S&1O#20101O%1D

$:4/W42,*,/(2--,: 5$%<=;>O%1& =1& J<>2%#& >+#& =1& ?>& J>2212>& =1& 9;1OJ;>$& F#?M%;J>$& I& 61?>J;#O1$& -O%12O>J;#O>?1$& =1& ?>& N>J<?%>=& =1& !=0;O;$%2>J;]O& I& 9;1OJ;>$& F#?M%;J>$& =1& ?>& 4O;C12$;=>=& 9>$>&:2>O=1&Z49:[D

9


()*+,*,-)./0/BI:/(%%%/':7E

61"21$>2& =1& x<;%#& >& :<>I>V<;?& 1$& 21%#2O>2& >& ?>& J;<=>=& =1& ?>$& J#O%2>=;JJ;#O1$B& =1& 01bJ?>$& =1$P2#P#2J;#O>=>$& I& >=#V<;O1$& S<21#$D& 7;"O;A;J>&1OJ#O%2>2$1&J#O&?>&=;C12$;=>=&d<0>O>&V<1&b;"b>"<1>&P#2&?>$& J>??1$B&#?C;=>O=#&?>&1_;$%1OJ;>&=1?&#%2#&P#2&;O$%>O%1$B&1O&<O&=M>&1O&1?& V<1&J>=>&<O#&$1&$;1O%1&J21>=#2&<O;C12$>?&=1?&A<%<2#D& !V<M&=1$J<R2#&O<1C>01O%1&V<1B&><OV<1&0;&<R;J>J;]O&"1#"2SA;J>&$1>& J>0R;>O%1B&0;&J#2>b]O&$;10P21&$12S&=1?&$<2D&!V<1?&$1J%#2&;221J#O#J;R?1& 1O&?>$&P#$%>?1$&%<2M$%;J>$B&%10;=#&P#2&$12&A21J<1O%>=#&1O&?#$&O#%;J;12#$B& 1?"1O&=1&?#$&P>2%;=#$&P#?M%;J#$&I&$<&/?%;0#&R>$%;]O&>&21J#2=>2D&!??M& =#O=1& ?>$& %2>R>U>=#2>$& $1_<>?1$& ?>R#2>OB& ?>& $>?$>& 1$& $<& 01?#=M>& I& 1?& >?J#d#?&$<&0#O1=>&=1&J>0R;#D& 9#0P21O=#& 1$1& 0;1=#& >Ji22;0#& =1& >?"<O#$& >& ?>& ;O$1"<2;=>=& =1& 0;& J;<=>=B&?>&R<2?>&>&?>&;"O#2>OJ;>&=1&?>&0>I#2M>&I&>&O<1$%2>&A#20>&=1& d>R?>2B&?>&$#O2;$>&;2]O;J>&J<>O=#&.1R#%&01OJ;#O>R>&pO<1$%2#&0#=1?#& 1_;%#$#qD& @1& J#OA;1$#& J<?P>R?1B& >J1P%#& 1?& =1$P21J;#& P#2& O<1$%2>& O1J1$;=>=& =1& "2;%>2& C;%<P12;#$& 1O& ?>$& J>??1$& I& O<1$%2#& ;221$P1%#B& J>$;& P>%#?]";J#B&>&?>$&A;"<2>$&=1&><%#2;=>=D

$ , ( - , 2 " , , . ")!

c#0#&J#0#&>_;#0>&1?&=1$#2=1O&=1&O<1$%2#&J21J;0;1O%#&I&?>&P12$1J<J;]O& >O;0>?&=1&O<1$%2#$&=1$1#$&RS$;J#$n&O#B&O#&O1J1$;=>=1$B&P#2V<1&d10#$& >P21O=;=#& >& P<O%>& =1& ">22#%1$& I& >$A;_;>$& ?>& =;A121OJ;>& 1O%21& P#=12B& =1R12&I&=1$1>2D&.#$&d>O&>=#J%2;O>=#B&>J#0P>+>O=#&=1&1?1J%2#Jd#V<1$& 1?& ?1%212#& =1& pP2#d;R;=#q& V<1& ??1C>O& 1?& P#=12& I& =1R12B& I& A21O%1& >& 1$#& d10#$&1OJ#O%2>=#&21A<";#&1O&1?&=1$1#D&61"21$>2&1$&1OJ#O%2>201&J#O& V<1& ?>& P#?M%;J>& 1$& ?>& 0;$0>& A>Jd>=>& =1?& 2#R#& ><$%12#& =1& >+#$& >%2S$B& >d#2>&>J%<>?;b>=>&I&P?>O;A;J>=>&=1%>??>=>01O%1B&=1&>JJ1$#&P/R?;J#D 921JM& J21I1O=#& V<1& 12>& <O& 2>$"#& O>J;#O>?& 1$1& $<A2;0;1O%#& P#2& ?>& 21;C;O=;J>J;]O& I& 1?& J>#$& V<1& %2>O$P;2>& <O>& P12$#O>& =1& ?#$& 0S2"1O1$D& 5O&0;&01O%1&=1$C>2;>O%1B&1?&$#?&I&1?&0>2&J#OU<">R>O&01U#2&?>&>"#OM>B& ;O%1O$;A;J>R>O& O<1$%2>& P12J1PJ;]OB& R<2?>R>O& O<1$%2>& A2S";?& ?]";J>& ;O%12O>D&!d#2>B&$i&V<1&O#D& 4O& &+$=$#5& =1?& $<2& O#& %;1O1& J#0P>2>J;]O& 1O& $<& 2>R;>B& P<1=1& 1_P12;01O%>2& 10P>%M>B& P12#& U>0S$& $12S& 1O%1O=;=#& 1O& $<& %#%>?;=>=B& O;&J#0P21O=12S&=1&;"<>?&0#=#&>&#%2#$D&.#$#%2#$&d10#$&J21J;=#&J#O& ?#$& R>22;#$& 2;J#$& 1O& O<1$%2>& J>2>B& J#O& $<& J101O%#& %>P>O=#& O<1$%2>$&


$,(-,2",,.

J>$>$&=1&J>+>B&#R$12C>O=#&>?&?>=#&=1&O<1$%2>&0;$12;>&?>&P2#$P12;=>=& =1&"1O%1&J#O&>P1??;=#$&;O%12J#O%;O1O%>?1$D&.<1$%2>$&d<1J>$&d>O&1$%>=#& >& 01%2#$& =1& ?#$& J?<R1$& =1& i?;%1B& O<1$%2>$& J>??1$& $;O& P>C;01O%>2& $#O& P>2>?1?>$&>&$<$&J>??1$&>=#V<;O>=>$D 7#0#$&=;A121O%1$B&P#2V<1&%2>R>U>0#$&P>2>&$#R21C;C;2&J#O&P12$#O>$&V<1& $1&=>O&1?&?<U#&=1&C;C;2&1O&?>&>P>%M>B&$;O&?>&J>P>J;=>=&=1&1O%1O=12&V<1&?>& 0>$>&P#P<?>2&>&?>&V<1&21d/I1O&=1R1&$12&21$P1%>=>D&l?C;=>O=#&?>$&J2<J1$& U<O%#&>?&:<>I>$&2#U#)B&&O1">O=#&V<1&O<1$%2#&??>O%#&1$&1?&V<1&1=;A;J>&$<$& 0>O$;#O1$&I&O<1$%2>$&0<12%1$&?>$&V<1&0120>O&$<$&1$R;22#$&$12C;?1$D& 61J#2=>0#$& J>=>& 2#$%2#& V<1& d10#$& C;$%#& 1O& ?>$& J>??1$& P;=;1O=#& J>2;=>=B& I& J>=>& <O>& =1& ?>$& d;$%#2;>$& =1& %2>R>U#& ;OA>O%;?B& =2#">$B& C;#?>J;]OB&1$%>A>&I&=1$%;%<J;]O&V<1&d10#$&$;=#&#R?;">=#$&>&1$J<Jd>2& 1O& ?#$& R<$1$B& =1$>I<O>O=#& =1$1$P12>J;]OB& >O"<$%;>& 1& ;O=;"1OJ;>D& 4O&"<>I>V<;?1+#&=1?&$<2&O#&;O$<?%>B&2#R>B&%#0>&I&J#01%1&=1?;%#$&=1& 0#=#&J#0P?1%>01O%1&0>?;J;#$#&I&J#O$J;1O%1D&!&1??#$&?1$&P2#d;R;12#O& $#+>2&J#O&>?"#&0S$&V<1&?>&#P#2%<O;=>=&=1&%2>R>U>2&J#0#&10P?1>=#$B& 1O">+SO=#?#$& J>=>& C1b& V<1& O1J1$;%>R>O& $<& C#%#B& J#OA<O=;iO=#?1$& J#O&<O>&J#J;O>&1O%21&%>R?#O1$&=1&0>=12>B&J>OU1SO=#?1$&=S=;C>$&P#2& =121Jd#$D&.#&?#$&P<1=1O&U<b">2&J#0#&>?&21$%#D c#=#&U#C1O&1$&<O&21C#?<J;#O>2;#B&=1JM>&1?&9d1D&E#$&O<1$%2#$&d>O&$;=#&?>& A<1O%1&0S$&21O%>R?1&=1&P2#$1?;%;$0#&P#?M%;J#B&I&J#O%;O<>210#$&$;iO=#?#D& 7#0#$&1?&sd>b01&21M2t&=1?&21$%#&=1?&5J<>=#2B&;OJ>P>b&=1&J#0P21O=12&V<1& ?1$&d10#$&=>=#&?#$&?#"2#$&V<1&d>O&=1J;=;=#&O#%>2B&I&J<>O=#&d>O&$;=#& A2>J>$#$B&P21A;121O&#?C;=>2&V<1&1??#$&%>0R;iO&?#$&1$J#";12#OD& 7MB& %1O"#& 0<Jd#& J#2>U1& >?& 21"21$>2& I& C12& V<1& >V<M& $#?#& 1OC1U1J1& ?>& 1$P12>Ob>&=1&?>&"1O%1D&5O#U#&=1&#R$12C>2&V<1&O#&d>I&01U#2M>$D&c1O"#&1?& J#2>U1&=1&C12&O;+#$B&0<U121$B&P12$#O>$&J#O&=;$J>P>J;=>=&I&>OJ;>O#$&1O&

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

O<1$%2>$&J>??1$&$<R$;$%;1O=#&1O&J#O=;J;#O1$&P21J>2;>$B&J<>O=#&1?&21$%#& =1?&P>M$&O#&$>R1&1OA21O%>2$1&>&?>&0;$12;>&=1&?>$&J;OJ#&=1&?>&0>+>O>&J#O& $<& 1$%]0>"#& C>JM#n& $#?#& J#0#& >J#O%1J;0;1O%#D& 9#2>U1B& 0S$& >/OB& =1& V<1&d>I>O&O#20>?;b>=#&?#&C;$%#&=1$=1&0;&;OA>OJ;>B&=1J;=;1O=#&J#O&<O>& $;OJ2#OM>&#2V<1$%>?&0;2>2&>?&#%2#&?>=#&>?&<OM$#O#D& F#2& 1$#B& J<>O=#& 01& P21"<O%>O& P#2& V<i& 1O& :<>I>V<;?& >/O& ">O>& e>;01&.1R#%B&O#&$i&$;&%#0>2?#&J#0#&R<2?>&#&J#0#&1_P21$;]O&"1O<;O>& =1& ;O%12i$D& F#2V<1& ?>& 21$P<1$%>& >& ?#& P2;012#& 1$& J#2%#& I& =1O;"2>O%1n& 0;1O%2>$&V<1&?#&$1"<O=#B&$<&?#O";%<=&J12J>2M>&1?&;O%12i$&=1?&21J1P%#2D& .#& #R$%>O%1B& 1?& ;O%1O%#& =1& .1R#%& P#2& =>2?1& <O>& ;=1O%;=>=B& ><OV<1& $1>& >O>J2]O;J>& >?& "<>I>V<;?1+#B& 210<1C1& <O& C>JM#& P2#A<O=#& =1& J<?%<2>$&1J?iJ%;J>$D&81%2S$&=1&$<$&;O$<?%#$&I&>01O>b>$&J#?#2;=>$B&=1&$<& C1$%;01O%>B&1$%SO&0;?1$&;O%1O%>O=#&1OJ#O%2>2&>?"#&=1&1??#$&21A?1U>=#& 1O&1$1&1$P1U#&=1$A>$>=#&I&%2;b>=#D E?<1C1& >?& $<2& =1& ?>& J;<=>=D& 5?& J>?#2& J1=1B& ?>$& "#%>$& ;O;J;>O& $<& =>Ob>& >OJ1$%2>?& 1O& 1?& b;OJB& ?>$& P12$#O>$& =1$P1U>O& ?#$& J>??1U#O1$B& I& >d#2>& #R$12C>O& =1$=1& $<$& C1O%>O>$& ?#$& >22#I#$& V<1& $1& A#20>O& 1O%21& ?>& C121=>&I&1?&0<$"#B&P>2>&J<?0;O>2&1O&210#?;O#$&$#R21&?>&>?J>O%>2;??>D&5O& ?>$&J>$>$&;O;J;>O&?>$&1$P1J<?>J;#O1$&=1&<O&A<%<2#&;OJ;12%#D&j#&1$%#I&1O& 1?&R>?J]O&A>0;?;>2B&1$J<Jd>O=#&%;0R>?1$&=1&>?"<O>&>%0]$A12>&J>2;R1+>& >J12J>2$1&=1$=1&?>&?1U>OM>B&;O%1O%>O=#&=;$1JJ;#O>2&?#$&]2">O#$&=1&0;& ;0P#%1OJ;>B&21J21>O=#&?>$&C1J1$&V<1&d1&%1O;=#&V<1&??1">2&>&J>$>&J#O&1?& >"<>&d>$%>&?>&J;O%<2>D& 7;&1?&J;1?#&1$&<O&A>J%#2&<O;C12$>?&=1&?>$&21?;";#O1$B&I&1O&i?&?>$&P?1">2;>$&$1& 1$J<Jd>OB&P2#%1"1&8;#$&>&1$%>&0;&"1O%1B&V<1&1O&#J>$;#O1$&C>">&%#=>&$<& C;=>&1O&R<$J>&=1&J#O$<1?#B&I&%#0>&%<&;0>"1O&J#0#&"<M>&>&?>&21=1OJ;]O& P2#01%;=>n&$<&/O;J#&J>0;O#&=1&21"21$#&>&<O&P>2>M$#&;OC;$;R?1&=1?&J<>?& >&C1J1$&P21A12;2M>O&O#&d>R12&$>?;=#D

)& 5?& =1?& )L& =1& O#C;10R21& =1& )*''B& =<2>O%1& 1?& "#R;12O#& =1& e#$i& E<;$& c>0>I#B& 1$& 21J#2=>=#&J#0#&1?&R><%;b#&=1&$>O"21&=1&?>&J?>$1&#R212>&1J<>%#2;>O>B&=1R;=#&>&<O>& d<1?">&0>$;C>&#R212>&V<1&J<?0;O]&J#O&?>&0>$>J21&I&21P21$;]O&P#2&P>2%1&=1?&1Ui2J;%#&>& 0S$&=1&0;?&P12$#O>$B&J<I#$&J<12P#$&A<12#O&R#%>=#$&>?&2M#&:<>I>$D

$:4/Q,-).kO,/#,*5)-/ 5$%<=;>O%1&=1&%12J12&>+#&=1&?>&J>2212>&=1&9;1OJ;>$&F#?M%;J>$& =1&?>&N>J<?%>=&=1&!=0;O;$%2>J;]O&I&9;1OJ;>$&F#?M%;J>$&=1&?>& 4O;C12$;=>=&9>$>&:2>O=1&Z49:[D&

"*+4)9,5:;/7J=>E=<>7@/A/BC4:D,5:;/<U=>J=<>7@/0/%-N.+4,S2T*/F4))C2k

")'


()*+,*,-)./0/BI:/(%%%/':7E

$ , ( - , 2 " , , . ")(

La mujer: i2R:*)/5)/W),N3:24/0/F:+:;/6,+:C,45:

entre dos prisiones

O'I( LF( D>@F( THUFE`( LF( SSFX>( >( LFESIR( Z?d^]g[d( +EASS>DBF( @ID@SHLACD( >( S>( GHF( SSFXC( /ATIDF( JF( +F>HKIAE( Z\]]r[( j>@F(Q>(@>LA(LFBFDB>(Q(HD(>VILd(/H(TFDL>UF`(DI(FeALBF(S>( THUFE(?FE(LF3(@ITI(LHMLB>D@A>(TFB>YWLA@>3(ADT>DFDBF(>( @AFEBI(LFXTFDBI(JF(S>(?IMS>@ACD(jHT>D>3(T>E@>JI(?IE( HD(JFBFETADALTI(MAISCXA@Ii(S>(THUFE(D>@F(JF(HD(JAL@HELI3( JF( HD( @IDLBEH@BI( LI@A>S3( @HQ>( FeALBFD@A>( EFLAJF( FD( HD( YSH@BH>DBF(FLB>JAI(JF(sJFMFE(LFEt3(LAD(SSFX>E(>(@IDLBABHAELF( @ITI(HD(sLFE(FD(LWtd 9?>2#& V<1{& 1?& P2#J1$#& O#& $1& =>& ;O01=;>%>01O%1B& 1$& <O>& $<0>& =1& $<J1$#$&I&>JJ;#O1$&V<1&J#0P#2%>O&=#$&A>$1$Y&<O>&=1&;O%12;#2;b>J;]O&I& #%2>&=1&1_%12;#2;b>J;]OD&5O&?>&P2;012>B&>?&$12&>=$J2;%#&1?&$<U1%#&=1&0#=#& >2R;%2>2;#&>&<O>&$#J;1=>=B&=1R12S&>J#P?>2$1&>&?>&O#20>%;C>&1$%>R?1J;=>& P#2&1?&sl%2#t&kO#&$#?#&>&?>$&?1I1$&I&O#20>$&0#2>?1$&=1%120;O>=>$&P#2&?>& $#J;1=>=B&$;O#&%>0R;iO&>&?#$&?;0;%>O%1$&1O&$<&J#O=<J%>B&;0P<1$%#$&P#2& $<&J<;=>=#2&P2;0>2;#k&ZT<%?12B&'(()[D&5$%#&;0P?;J>B&>&$<&C1bB&>J#P?>2$1& >&?#$&1$%SO=>21$&=1&O#20>?;=>=&1$%>R?1J;=#$&P#2&1?&P#=12B&A#20>O=#& >$M&<O&s$12&P>2>&#%2#tB&1O&$<&O1J1$;=>=&=1&J#OC;C1OJ;>B&1$%>R?1J;1O=#& <O>&;=1O%;=>=B&=SO=#?1&<O&$1O%;=#&>&$<&C;=>&1O&%i20;O#$&$>2%21>O#$D

50P12#B& 1$%>& ;=1O%;=>=& O#& >O%1J1=1& >& ?>& 1_P21$;]O& kJ#O%2>=;J;1O=#& ?>& ;=1>&=1&V<1&?>&1$1OJ;>&P21J1=1&>&?>&1_;$%1OJ;>k&$;O#&V<1&$<2"1&>&P>2%;2& =1& $<& 0;$0>& 0>O;A1$%>J;]O& =1& 0#=#& .*'85'9$-715n& J#O=<J;1O=#& >& ?>& $1"<O=>& A>$1B& 1O& ?>& V<1& 1?& $<U1%#B& P#$%12;#2& >& d>R12& ;O%12;#2;b>=#& 1?& =;$J<2$#B&?#&1_%12;#2;b>&1O&>J%;%<=1$&I&J#0P#2%>0;1O%#$&>J#2=1$&>?&0;$0#B& ;O$%;%<J;#O>?;bSO=#?#B&P#2&01=;#&=1?&dSR;%#B&1O&1?&;OJ#O$J;1O%1&Z'(()[D 52"#B&$1&J<0P?1&V<1&1?&$<U1%#&$1&1OJ<1O%2>&$<U1%>=#D&!<OV<1&1?&d;OJ>P;i& Z1O&1?&P$;J#>OS?;$;$[&$1&=>&1O&1?&>$P1J%#&?;O"ÇM$%;J#&=1&?>&$<U1J;]O&k1$%>O=#& $<& ;O%12P21%>J;]O& $#R21& J;12%#& 1C1O%#& >& $<& >?21=1=#2B& =>=>& >& %2>Ci$& =1?& ?1O"<>U1B& J#0#& ;O%1201=;>2;#B& ?;0;%>O=#& $<& 2>J;#J;O;#kB& 1$%1& O#& 1$& $;O#& <O& P21A>J;#& P>2>& 1O%1O=12& V<1B& 0S$& V<1& <O& s;O=;C;=<#tB& ?>& P12$#O>& $1& 1OJ<1O%2>&kP>2J;>?01O%1k&=1%120;O>=>&P#2&<O&s#%2#tB&V<;1O&>R>2J>&%#=#& P2#J1$#&;OJ#O$J;1O%1&=1&$<&01O%1D& 7;&$1&P;1O$>B&J?>2#&1$%S&V<1&1?&=;$J<2$#&Ñ1O&%>O%#&1$%2<J%<2>&I&CMOJ<?#& $#J;>?Ñ& 1$& P2;0#2=;>?& 1O& $<& $<RU1%;C>J;]OB& P12#B& v1$%S& %#%>?01O%1& 21%1O;=#& P#2& 1?& ?1O"<>U1& 1?& $<U1%#w& !<O& >J1P%>O=#& V<1& 1$%1& 1$& <O& >O;0>?&$;0R]?;J#B&1$%>O=#&$<&$12&J<>$;&=1A;O;=#&>O%1$&=1&$<&1_;$%1OJ;>B& >&%2>Ci$&=1?&=;$J<2$#&=1?&sl%2#tB&I&$<&J#OC;C1OJ;>&1O&$#J;1=>=&=1P1O=1& =1& $<& J>P>J;=>=& =1& J#0<O;J>2$1& J#O& 1$%1n& 1$B& $;O& 10R>2"#B& 0<I&


$,(-,2",,.

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

=1R>%;R?1&V<i&=1%120;O>&P2;012#&>?&$<U1%#B&$;&?#&$#O&$<$&J#O=;J;#O1$& 0>%12;>?1$&#&1?&=;$J<2$#B&%10>&V<1&V<1=>2S&P1O=;1O%1D 61%#0>O=#B& >& O;C1?& 0>J2#B& 1?& $<U1%#& $1& 1OJ<1O%2>& ?;0;%>=#& P#2& ?>$& J#O=;J;#O1$& 0>%12;>?1$& =1& $<& $#J;1=>=B& 1$%>O=#& ?;">=#& $<& =1$>22#??#& P12$#O>?& >& ?>$& $<$#=;Jd>$& k1$P1JMA;J>01O%1& ?>& ;OA2>1$%2<J%<2>& 1J#O]0;J>B& J#OA#20>=>& P#2& ?#$& R;1O1$& =1& J>P;%>?B& >V<1??#$& V<1& ?#$& #P12>O& I& V<;1O1$& =;2;"1O& >& 1$%#$kD& 71>& =;Jd#B& 1?& J>2SJ%12& $#J;>?& =1?& $12&d<0>O#&O#&P120;%1&;"O#2>2&1O&1?&>OS?;$;$&V<1&$<&C;=>&P12$#O>?&$1& 1OJ<1O%2>& $<P1=;%>=>& >& $<& 21?>J;]O& J#O& $<& 1O%#2O#B& $<& J#OC;C1OJ;>& J#O&?>&$#J;1=>=D F#2&J#O$;"<;1O%1B&1$&P21J;$#&21J>?J>2&V<1&1?&?<">2&#J<P>=#&P#2&<O&$<U1%#& 1O&?>&1$%2<J%<2>&P2#=<J%;C>&k?>&;OA2>1$%2<J%<2>&A#20>=>&P#2&?#$&R;1O1$& =1&J>P;%>?&P21=#0;O>O%1$&1O&<O&?<">2&J#OJ21%#k&=1%120;O>&$<&P#$;J;]O& s=1&d1Jd#t&1O&?>&$#J;1=>=B&$;2C;1O=#&?>&A#20>&1O&?>&V<1&$1&P2#=<J1O&?#$& R;1O1$& 1O& ?>& >O%1=;Jd>B& P>2>& 1O%1O=12& ?>& J#OA;"<2>J;]O& =1& 1$%>& I& $<& $<P121$%2<J%<2>&Z?#$&=;$J<2$#$&=1?&P#=12B&;=1#?#"M>$B&21?;";]OB&1%JD[D 9#O$1J<1O%101O%1B& P>2>& J#0P21O=12& ?>& ;OJ;=1OJ;>& =1?& J>P;%>?;$0#& 1O& =;Jd>& J#OA;"<2>J;]OB& d>I& V<1& J#O$;=12>2& ?>& P#$;J;]O& V<1& d>& C1O;=#& %1O;1O=#& ?>& 0<U12& 1O& ?>& $#J;1=>=D& 81$=1& <O>& P12$P1J%;C>& 10;O1O%101O%1&$#J;#?]";J>B&?>&=;C;$;]O&=1&2#?1$&=1&"iO12#&=>%>&=1&?>& P2;012>&61C#?<J;]O&-O=<$%2;>?)B&1O&?>&V<1B&>&=;A121OJ;>&=1&?>&J#$%<0R21& V<1&d>RM>&>O%1$&=1&1$%>&21C#?<J;]O&Zd#0R21&I&0<U12&%2>R>U>R>O&P#2& ;"<>?&1O&1?&J>0P#[B&$1&=>&<O>&=;C;$;]OY&0;1O%2>$&?>&0<U12&%1OM>&1?&2#?& =1& J<;=>=#2>B& 1?& d#0R21& %2>R>U>R>& 1O& <O>& ASR2;J>B& $;1O=#& 1?& /O;J#&

V<1& R2;O=>R>& 1?& $<$%1O%#& >?& d#">2B& #J<P>O=#& ?>& 21?>J;]O& =1& P#=12& P21=#0;O>O%1& 1O& ?>& A>0;?;>& Z71R>"B& )*Q*[D& 5$%#& 12>& 1_J?<$;C#B& P#2& $<P<1$%#B&=1&?>$&J?>$1$&P<=;1O%1$D !$MB&P<1=1&#R$12C>2$1&J]0#&<O&$1"01O%#&=1&?>&P#R?>J;]O&$1&1OJ#O%2]& 1O&<O>&=#R?1&=;A;J<?%>=D&F#2&<O&?>=#B&0>O%1O;iO=#$1&$<RI<">=>&P#2&$<& ;OJ>P>J;=>=&P>2>&><%#$<$%1O%>2$1B&I&P#2&#%2#B&=1R;=#&>&V<1&O#&1_;$%M>& <O>&A<12b>&0>I#2&0>O%1O;iO=#?>&>?1%>2">=>B&$;O&1O%1O=;0;1O%#&=1&$<& P#%1OJ;>?&O;&>?%12O>%;C>&>&$<&P2#J1=12D&E>&J#$%<0R21B&?#$&21J<2$#$&I&?#& J#OC1O;1O%1&V<1&21$<?%>R>&?>&?;0;%>J;]O&>?&>JJ1$#&=1?&J#O#J;0;1O%#&>& ?>& 0>I#2M>B& P12P1%<>R>O& ?>& $;%<>J;]On& $>R12& V<1& J#O$%;%<I1& <O& "2>O& P#=12&I&J#0P#2%>&<O>&C12=>=D E>&;O%2#=<JJ;]O&=1&?>&A10;O;=>=&1O&?>&J#O$%2<JJ;]O&=1&1$>&C12=>=&1$&?#& V<1&=;J%>0;O>&?>&=;A121OJ;>&1O%21&#P21$;]O&I&?;R12%>=n&?>&1_;$%1OJ;>&=1& ?>&?<Jd>&P#2&?>&21;C;O=;J>J;]O&=1&?>&0<U12&$1&C1&A<12%101O%1&0#%;C>=>& P#2&1?&8$25&5#*(-'7%95_B&I&$<&P12=<2>J;]O&1$&=>=>&$1"/O&1?&P2;C;?1";#& $;">&C;"1O%1D&E>&$#?<J;]O&P#=2M>&$12&1?&C>J;>0;1O%#&=1?&$;"O;A;J>O%1&=1& p"iO12#qB&P120;%;1O=#&V<1&1?&$;"O;A;J>=#&$1&210;%>&>&?>&C#?<O%>=&=1?& $<U1%#&0;$0#&I&O#&>?&s#%2#tD ,KUKHKIGQ8: T1><C#;2B&7D&Z'((^[D&5?&71"<O=#&71_#D&@i_;J#&8D&NDB&@i_;J#Y&81R#?$;??# T<%?12B&eD&Z'(()[D&?24&G(*'54*(4)7%.+-$"&@i_;J#&8D&NDB&@i_;J#Y&F>;=]$ 71R>"B&ED&Z)*Q*[D&@$'^7%954=4?%-'+#-+'$27%95"&@>=2;=B&5$P>+>Y&7;"?#&XX-

) &5$%#&$1"/O&?>&?1J%<2>&=1?&><%#2&J;%>=#D&l%2>$&;O%12P21%>J;#O1$&?;">O&=;Jd>&=;C;$;]O&>&<O& A>J%#2&R;#?]";J#W&1C#?<%;C#D&,i>$1Y&6#012#B&ND&Z'()^[D&F2#R?10>%;b>J;#O1$&1O&%#2O#&>&?>& c1#2M>&=1&:iO12#&I&$<&P2SJ%;J>&=;$J<2$;C>D ' &F2;C;?1";#&=1&?#&0>$J<?;O#&1O&?>&J#O$%2<JJ;]O&=1?&$;"O;A;J>=#D

$:4/B-)m,*54:/nm)5,

"*+4)9,5:;/7J|>E|<>7@/A/BC4:D,5:;/<U=>J=<>7U

F:+:;/#)*+4)/5)/#N-+N4,/#:*+)RC:4{*2,/5)/W,4S)-:*,

MN52+O/WN+-)4

"+#


EXTERIORES

787


$u2$#".#$/

03(!%&07)"# 89:;8<=#>?;9@# 9@A;8#=:8<>BC<# :?;D9:B>=

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

$S( v( JF( >MEAS( JF( \]^g( LF( BE>DLTABAC( ?IE( ?EATFE>( KFN( FS( DHFKI( @HELI( JFS( ?EIXE>T>( -?EFDJ>TIL3( O6H>Q>GHAS( ME>NIL( >MAFEBIL`( @HELI( JF( >BFD@ACD( >S( BHEALB>R3( GHF( MHL@C( MEADJ>E( @IDI@ATAFDBIL( JF( HBASAJ>J( ?>E>( SIL( FT?EFDJFJIEFL( BHEWLBA@IL( Q( ?>E>( @H>SGHAFE( DFXI@AI(GHF(MHL@>E>(JFLB>@>ELF(FD(FS(pEF>(JF( LFEKA@AI(>S(@SAFDBFd

:<>I>V<;?B& J;<=>=& V<1& O>J;]& R>U#& 1?& J122;%#& C12=1B& >J<O>=>&P#2&1?&2M#&:<>I>$&I&1?&1$%12#&7>?>=#B&??1O>&=1& "1O%1&#P%;0;$%>&I&?<Jd>=#2>B&d#">2&=1&?#$&V<1&$#O&I& O#& $#O& "<>I>V<;?1+#$B& V<1& >P21O=;12#O& >& >0>2?>B& I& V<1&<O;=#$&d>O&%2>R>U>=#&P#2&$>J>2?>&>=1?>O%1&d>$%>& J#OC12%;2?>&1O&?>&<2R1&;0P#2%>O%1&V<1&1$&d#ID&F2;OJ;P>?& P<12%#&J#012J;>?&=1?&P>M$&I&P2;012&P<O%#&=1&1O%2>=>&>?& 5J<>=#2D&F2]_;0>&>&$<&R;J1O%1O>2;#&=1&;O=1P1O=1OJ;>B& 1C#?<J;#O>& J#O$%>O%101O%1& $;O& P12=12& $<& 1$1OJ;>B& I& C>& J21J;1O=#& =1& ?>& 0>O#& J#O& ?>& %1JO#?#"M>B& 1U10P?#& =1&=1$>22#??#B&=#O=1&%#=#$&V<;1O1$&?>&d>R;%>0#$&O#$& $1O%;0#$&#2"<??#$#$&=1&C;C;2&>V<MD

&')(;'5(&!+"

p:<>I>V<;?& R2>b#$& >R;12%#$Y& J<2$#& =1& >%1OJ;]O& >?& %<2;$%>qB&A<1&<O&%>??12&J21>=#&P#2&?>&8;21JJ;]O&=1&!JJ;]O& 7#J;>?&=1?&5J<>=#2&Z8!75[B&=1&?>&!?J>?=M>&=1&:<>I>V<;?B& >& %2>Ci$& =1& $<& P2#"2>0>& p!P21O=>0#$Y& 1=<J>J;]O& P>2>& $<P12>2O#$qB& V<1& $1& 1OA#J]& 1O& 1O$1+>2& >& $<$& %1?1C;=1O%1$&V<1&%#=#$&A#20>0#$&P>2%1&=1?&=1$>22#??#& %<2M$%;J#&=1&?>&J;<=>=B&I&V<1&J>=>&%>21>&V<1&21>?;b>0#$& >=1J<>=>01O%1&J#O%2;R<I1&>&J#O$#?;=>2&1?&P21$%;";#&=1& $12&?>&J>P;%>?&1J#O]0;J>&=1?&5J<>=#2D 5$%1& J<2$#& %<C#& J#0#& #RU1%;C#& =>2& >& J#O#J12& >& :<>I>V<;?B& =1$=1& $<& d;$%#2;>B& ?#$& C>?#21$& V<1& $1& =1$%>J>O& 1O& $<$& d>R;%>O%1$B& 21$>?%>O=#& 1$>& >J%;%<=& C>?12#$>&I&=1&$12C;J;#&V<1&??1C>0#$&1O&?>$&C1O>$B&I&V<1& O#$&J#OC;12%1O&1O&01U#21$&J;<=>=>O#$n&R<$J]&%>0R;iO& ;OA#20>2& $#R21& ?#$& ?<">21$& =1& ;O%12i$& V<1& #A21J1& ?>& J;<=>=&I&=>2&>&J#O#J12&J]0#&?>&>J%;C;=>=&%<2M$%;J>&$1&

"*+4)9,5:;/<E=>E=<>7@/A/BC4:D,5:;/78=>J=<>7@/0/F:+:;/S:4+).K,/5)/FN*5,S2T*/"SN,5:4

"+)


()*+,*,-)./0/BI:/(%%%/':7E

$ u 2 $ # " . # $ / "++

d>& ;OJ2101O%>=#& P><?>%;O>01O%1& 1O& ?#$& /?%;0#$& '(& >+#$D& !=10S$B& %<C#& J#0#& A;O& J>P>J;%>2& >& ?>& J;<=>=>OM>& 1O& 1?& S21>& =1& $12C;J;#$B& 01=;>O%1&1?&=1$>22#??#&=1&J#OJ1P%#$&I&1U10P?#$B&>P#2%>O=#&<O>&"<M>& 1O& 1?& <$#& >=1J<>=#& =1& ?>& %1JO#?#"M>B& 1O$1+>O=#& d122>0;1O%>$& V<1& O#$&J#OC;12%1O&1O&C12=>=12#$&>OA;%2;#O1$&=1&?>&J;<=>=B&I&>P<O%>O=#& $;10P21&>&#A21J12&<O&$12C;J;#&=1&J>?;=>=D 5?&?;R2#&V<1&>J#0P>+]&1?&J<2$#&O#$&1O$1+]&J#OJ1P%#$&$1OJ;??#$&$#R21& %<2;$0#& I& $12C;J;#& >?& J?;1O%1B& I& O#$& ;OA#20]& $#R21& J]0#& O<1$%2>& J;<=>=& C>& =1$>22#??SO=#$1& 1O& 1$%1& J>0P#D& E>& P<R?;J>J;]O& ;OJ?<I1& "<M>$& =1& R<1O>$& P2SJ%;J>$& 1O& =;A121O%1$& #A;J;#$& I& 1?& <$#& >=1J<>=#& =1& ?>& %1JO#?#"M>B& R2;O=>O=#& d122>0;1O%>$& P>2>& V<1& ?#$& J<2$;??;$%>$& P>2%;J;P1O& =1& A#20>& >J%;C>& 1O& ?#$& $12C;J;#$& V<1& #A21J1& ?>& J;<=>=n& $1& "2>A;J>2#O&0>P>$&P>2>&;OA#20>2&$#R21&?#$& $;%;#$& =1& ;O%12i$& %<2M$%;J#B& ?>$&>J%;C;=>=1$&I&$12C;J;#$&V<1&$1&P<1=1O&21>?;b>2&I&=#O=1&$1&1OJ<1O%2>& <R;J>=#&J>=>&?<">2D F#2&#%2#&?>=#B&1?&?;R2#&%>0R;iO&J#O%;1O1&<O&J>PM%<?#&$#R21&%1JO#?#"M>B& 1O&1?&J<>?&$1&1_P?;J>&J]0#&1?&@<O;J;P;#&=1&:<>I>V<;?&$1&d>&P21#J<P>=#& P#2& J#OC12%;2& >& :<>I>V<;?& 1O& <O>& J;<=>=& %1JO#?]";J>n& O#$& 1O$1+>& $#R21&?#$&O<1C#$&J#OJ1P%#$&I&d122>0;1O%>$&V<1&$1&1$%SO&0>O1U>O=#& 1O&1$%>&S21>&I&O#$&#A21J1&21J#01O=>J;#O1$&P>2>&01U#2>2&$<&<$#&=1O%2#& =1?&$1J%#2&%<2M$%;J#D E#$& P>2%;J;P>O%1$& %1OM>O& ?>& #P#2%<O;=>=& =1& C;$<>?;b>2& #& >JJ1=12& >& ?>& ;OA#20>J;]O&=1?&J<2$#&=1$=1&=;$%;O%>$&CM>$Y&J>O>?1$&=1&%1?1C;$;]OB&J>O>?& =1&p!P21O=>0#$q&1O&j#<c<R1B&?;R2#&1O&AM$;J#&I&01=;>O%1&%<%#2M>$D 9#O&1?&9<2$#&p:<>I>V<;?&T2>b#$&!R;12%#$&W&9<2$#&=1&!%1OJ;]O&>?&c<2;$%>qB& P<=;0#$&21A#2b>2&?#$&J#O#J;0;1O%#$&V<1&O#$&P120;%1O&$12&P2#0#%#21$& =1& 1_P12;1OJ;>$& ;O#?C;=>R?1$& P>2>& ?#$& C;$;%>O%1$B& 21J#2=10#$& V<1& 1?& $12C;J;#& =1& J>?;=>=& 1$& <O>& d122>0;1O%>& P#=12#$>& =1& 1_;$%1OJ;>& >& ?>2"#& P?>b#& I& V<1& ?>& R<1O>& >%1OJ;]O& %;1O1& V<1& $12& <O& $1??#& V<1& O#$& =;$%;O">&1O&1?&J#O%;O1O%1D&.#&#?C;=10#$&V<1&%#=#$&$#0#$&>OA;%2;#O1$&I& 21$P#O$>R?1$&=1&V<1&1?&R<1O&$12C;J;#&??1"<1&>?&J?;1O%1D&e<O%#$&P#=10#$& J#O%2;R<;2&P>2>&J#OC12%;2&?>&1_P12;1OJ;>&=1&21J#2212&:<>I>V<;?&1O&<O& 21J<12=#&010#2>R?1D

E;J1OJ;>=>&1O&c<2;$0#&=1&?>&5$J<1?>&7<P12;#2&F#?;%iJO;J>& =1?&E;%#2>?D

/-#-$+.'7'5(+7+2$+.'(.,(#+2$+. +2.$%"%.(%.34+.2+,+-#$' =46#+&+.7B-.#2C%&7',#12.-#.+-$%. RWGFG DGPGÆ’EKCT CN ENKGPVG D%.#2,%7%"+-.'(.,(#+2$+ ,%2.+E,+-%."+.'$+2,#12 F&'$'.'(.,(#+2$+.,%2.G%2+-$#"'" *.,470(+.$4-.%C&+,#7#+2$%F&'$'."+.+2,%2$&'&.-%(4,#%2+-. 0'&'.%5$+2+&.,(#+2$+-.-'$#-C+,G%/,+0$'.('-.&+,%7+2"',#%2+-. "+.$4-.,(#+2$+H+-0%2"+.'7'5(+7+2$+.-#.42. ,(#+2$+.2%.$#+2+.54+2'.',$#$4"

I'0',A$'$+.,%2-$'2$+7+2$+

/0&+2"+."+.(%-.+&&%&++.#2,%2?+2#+2$+-.,%$#"#'2%0'&'.7+J%&'&

&')(;'5(&!+"

$:4/G242,R/#)2-)R,/'2*,D,*5,

=#+70&+.-'(4"'.,%2.,%&$+-A'. *.54+2.B2#7%


"+$

$u2$#".#$/

I12-4(.K+2+&'(."+.IG#(+

()*+,*,-)./0/1*23)4.25,5/#,.,/64,*5)

8

I'&$'."+."+-0+"#"'. '.7#-.,%70'$&#%$'-.*. '7#6%-.+,4'$%&#'2%81$P<i$&=1&J<0P?;2&0;&P12M#=#&=1&=1$%;O>J;]O&=1&J;OJ#&>+#$&Z'()3W '()*[&J#0#&9]O$<?&:1O12>?&=1&9d;?1&1O&:<>I>V<;?B&V<;12#&=1J;2?1$&V<1& A<1& P>2>& 0M& <O& "2>O& d#O#2& I& <O& C12=>=12#& P?>J12& =1$10P1+>2& 1$%1& J>2"#&1O&21P21$1O%>J;]O&=1&9d;?1D& E>& 1$1OJ;>& =1& ?>& A<OJ;]O& J#O$<?>2& 1$& ?>& P21$%>J;]O& =1& <O& $12C;J;#& P/R?;J#&=1&J>?;=>=&>&O<1$%2#$&J#0P>%2;#%>$&I&J;<=>=>O#$&1_%2>OU12#$& V<1&?#&21V<;12>OD&8<2>O%1&0;&P12M#=#&$1&21>?;b>2#O&<O&P#J#&0S$&=1& H(D(((&>%1OJ;#O1$&J#O$<?>21$B&1O%21&#%2>$B&?>&P2#%1JJ;]O&I&>$;$%1OJ;>& >&P12$#O>$&J#O&>?%>&C<?O12>R;?;=>=&$#J;>?&J#0#&>OJ;>O#$n&P2#%1JJ;]O& =1& O;+#$B& O;+>$& I& >=#?1$J1O%1$B& 21P>%2;>J;#O1$& =1& J#OO>J;#O>?1$B& ?#J>?;b>J;#O1$& =1& J#0P>%2;#%>$B& P#=121$& "1O12>?1$B& P#=121$& 1$P1J;>?1$B&J>2%>$&P#=121$B&21O#C>J;#O1$&=1&P120>O1OJ;>$&=1A;O;%;C>$B& ;O$J2;PJ;#O1$&=1&O>J;0;1O%#$B&0>%2;0#O;#$&I&=1A<OJ;#O1$B&P>$>P#2%1$B& Ji=<?>$& =1& ;=1O%;=>=B& $>?C#J#O=<J%#$B& C;$>$& =1& 1$%<=;>O%1$B& C;$>$& $<U1%>$&>&J#O%2>%#&I&C;$>$&=1&21$;=1O%1&%10P#2>2;#D 9>R1&%>0R;iO&=1$%>J>2&1?&21$P>?=#&V<1&d10#$&P21$%>=#&>&?>&=;A<$;]O&=1& ?>$&0>O;A1$%>J;#O1$&J<?%<2>?1$&=1&O<1$%2#&P>M$B&>?&21J;R;2&I&=;A<O=;2&?>$& P21$1O%>J;#O1$&=1&"2<P#$&A#?J?]2;J#$&I&>2%;$%>$&Jd;?1O#$&V<1&C;$;%>2#O& 5J<>=#2B& J#O%2;R<I1O=#& >& ;OJ2101O%>2& ?>& <O;=>=& =1& ?#$& Jd;?1O#$& 21$;=1O%1$&1O&1$%1&d120#$#&P>M$B&1?&;O%12J>0R;#&J<?%<2>?&I&?#$&?>b#$&=1& >0;$%>=&1O%21&>0R#$&P>M$1$D 81R#&=1U>2&J#O$%>OJ;>&=1&<O&21J#O#J;0;1O%#&1$P1J;>?&>&?#$&A<OJ;#O>2;#$Z>$[& =1& 1$%1& 9#O$<?>=#& :1O12>?B& V<;1O1$& J#O& $<& P2#A1$;#O>?;$0#B& 1$A<12b#& I&=1=;J>J;]O&P120>O1O%1&d>O&>P#I>=#&1O&A#20>&C>?;#$>&?>&"1$%;]O&=1& 1$%>&21P21$1O%>J;]O&J#O$<?>2&P>2>&P#=12&P21$%>2&<O&$12C;J;#&=1&J>?;=>=&I& 1A;J;1O%1&>&0<Jd#$&J#OO>J;#O>?1$&I&1_%2>OU12#$D c>0R;iO& =1O%2#& =1& 0;& "1$%;]OB& >& 2>Mb& =1?& %12210#%#& V<1& >b#%]& >& ?>& P2#C;OJ;>&=1&@>O>RM&1O&1?&'()QB&J><$>O=#&"2>C1$&Pi2=;=>$&d<0>O>$&

I& 0>%12;>?1$B& %<C1& 1?& "2>%#& P?>J12& =1& P>2%;J;P>2& 1O& ?>& J>0P>+>& =1& $#?;=>2;=>=&p9>$>&P>2>&5J<>=#2qB&>&A;O&=1&21J><=>2&A#O=#$&1O&>I<=>& =1& ?>& 21J#O$%2<JJ;]O& =1& ?>& b#O>& >A1J%>=>D& 61;%12#& 0;& P2#A<O=#& >"2>=1J;0;1O%#& >& ?>$& JS0>2>$& =1& 9#012J;#& 5J<>%#2;>O>W9d;?1O>B& 5J<>%#2;>O>WT2;%SO;J>B& 5J<>%#2;>O>W!012;J>O>B& =1& 9#012J;#& =1& :<>I>V<;?B&1?&9#?1";#&!?10SO&=1&:<>I>V<;?&I&?>&e<O%>&=1&T1O1A;J1OJ;>& =1& :<>I>V<;?B& V<1& J#O& $<& 1$A<12b#& ?#"2>2#O& <O& 1_;%#$#& 21$<?%>=#B& >?& 21J><=>2& 21J<2$#$& P>2>& =#O>2& )((& J>$>$B& =1& ?>$& V<1& \(& A<12#O& 1O%21">=>$&>&@>O%>&I&'(&>&T>dM>&=1&9>2SV<1bD l%2#&d;%#&;0P#2%>O%1&=<2>O%1&0;&"1$%;]O&A<1&1?&d#O#2&=1&#2">O;b>2&I& =;2;";2&1?&P2#J1$#&=1&C#%>J;]O&1O&?>$&1?1JJ;#O1$&P2;0>2;>$&P21$;=1OJ;>?1$&I& P21$;=1OJ;>?1$&1O&1?&'()^B&#J>$;]O&1O&?>&V<1&P#2&P2;012>&C1b&?#$&Jd;?1O#$& 21$;=1O%1$& 1O& 5J<>=#2& P<=;0#$& 1U12J12& O<1$%2#& =121Jd#& >?& $<A2>";#B& ?#"2SO=#$1&=1$P<i$&=1&0<Jd#$&>+#$&<O>&>O$;>=>&21;C;O=;J>J;]O&=1&?>$& J#0<O;=>=1$&=1&Jd;?1O#$&21$;=1O%1$&1O&1?&1_%12;#2B&?#&V<1&d>&J#O%2;R<;=#& >?&A#2%>?1J;0;1O%#&=1&O<1$%2#&$;$%10>&=10#J2S%;J#D&

"*+4)9,5:;/<<=>E=<>7@/A/BC4:D,5:;/<8=>E=<>7@/0/F:+:.;/QH/5)/#:RN*2S,S2T*/5)/-,/1#6/0/%-N.+4,S2T*/F4))C2k

:<>I>V<;?B&)\&=1&>R2;?&=1&'()*


$u2$#".#$/

()*+,*,-)./0/BI:/(%%%/':7E

@<Jd>$&"2>J;>$&>&%#=#$&?#$&Jd;?1O#$&V<1&P>2%;J;P>2#O&1O&1$>$&d;$%]2;J>$& U#2O>=>$& =1& C#%>J;]O& 1A1J%<>=>$& 1O& ?>& 4O;C12$;=>=& =1& 9>$>& :2>O=1& =1&:<>I>V<;?D&5$P12>0#$&V<1&0S$&Jd;?1O#$&P<1=>O&P>2%;J;P>2&1O&1$#$& P2#J1$#$& 1?1J%#2>?1$B& P>2>& ?#& J<>?& 1$& ;0P#2%>O%1& V<1& 21>?;J1O& 1O& 1?& J#O$<?>=#&1?&%2S0;%1&"2>%<;%#&=1&J>0R;#&=1&$<&=#0;J;?;#&1?1J%#2>?D& !P2#C1Jd#&?>&#P#2%<O;=>=&=1&21;%12>2&0;&"2>%;%<=&P#2&?>$&O<012#$>$& 0<1$%2>$&=1&J>2;+#&V<1&d1&21J;R;=#&1O&1$%#$&/?%;0#$&=M>$&1O&=;C12$>$& =1$P1=;=>$&V<1&01&d>O&21>?;b>=#D&5$%#&J#O$%;%<I1&<O&>?;1O%#&P#=12#$#& P>2>&J#O%;O<>2&%2>R>U>O=#&P#2&1?&R;1O&=1&9d;?1&I&=1&?#$&Jd;?1O#$&1O&0;$& O<1C>$&A<OJ;#O1$&1O&?>&9>OJ;??12M>&1O&7>O%;>"#D& 81$1#&>"2>=1J12&%>0R;iO&>&%#=>$&?>$&P12$#O>$&V<1&01&>P#I>2#O&1O& 0;$&A<OJ;#O1$&J#O$<?>21$B&I&>&%>O%#$&>0;"#$&Jd;?1O#$&I&1J<>%#2;>O#$& J<I>&?;$%>&1$&0<I&?>2">&P>2>&01OJ;#O>2&1O&=1%>??1D&!&%#=#$&1??#$&d1& >P21O=;=#&>&V<1212?#$B&C>?#2>2?#$&I&$;10P21&?1$&21J#2=>2iD&!$;0;$0#B& =1R#&P1=;2&=;$J<?P>$&$;&>&>?"<;1O&1O&>?"<O>&#J>$;]O&I&$;O&V<1212&O#& >%1O=M&J#0#&=1R1&$12D

"+%

?>&P>J;1OJ;>&I&1?&J>2;+#&P>2>&>J#0P>+>201&J#0P21O=1201&I&>P#I>201& 1O&J>=>&0#01O%#&=1&0;&"1$%;]OD !& @>O<1?& :>2JM>W61I& 9#??B& V<;1O& >$<0;]& 1$%>& $10>O>& J#0#& O<1C#& 9]O$<?& :1O12>?& =1& 9d;?1& 1O& :<>I>V<;?B& ?1& =1$1#& 0<Jd#& i_;%#& 1O& $<$& A<OJ;#O1$D& 5$%#I& $1"<2#& V<1& P#2& $<$& J#O=;J;#O1$& d<0>O>$& I& P2#A1$;#O>?1$&21>?;b>2S&<O>&1_J1?1O%1&?>R#2&J#O$<?>2D 9<>O=#&C>I>O&P>2>&7>O%;>"#&=1&9d;?1&P#=2SO&C;$;%>2&>&1$%1&>0;"#&V<1& >d#2>& 21"21$>& >& $<& P>%2;>D& @<Jd>$& "2>J;>$B& <O& $>?<=#& 1$P1J;>?& I& <O& A<12%1&>R2>b#&P>2>&%#=#$&0;$&>0;"#$&I&>0;">$&I&$<$&A>0;?;>$D&E?1C>2i& $;10P21&1O&?#&0S$&P2#A<O=#&=1&0;&J#2>b]O&<O&21J<12=#&;0R#22>R?1&=1& %#=#$&<$%1=1$D G

81R#&%>0R;iO&=1$%>J>2&I&>"2>=1J12&?>&;0P#2%>O%1&?>R#2&V<1&??1C>O&>& J>R#&?>$&#2">O;b>J;#O1$&=1&Jd;?1O#$&21$;=1O%1$&1O&:<>I>V<;?B&V<1&J#O& $<&1$A<12b#&J#O%2;R<I1O&>?&#RU1%;C#&=1&R<$J>2&?>&<O;=>=&=1&%#=#$&?#$& Jd;?1O#$&I&=1U>O&0<I&R;1O&P<1$%#&1?&O#0R21&=1&9d;?1&1O&5J<>=#2B&>?& P2#0#C12&O<1$%2>&J<?%<2>&I&C>?#21$&P>%2;#$D 61"21$#&>&9d;?1&=1U>O=#&>&5J<>=#2B&<O&P>M$&J#O&<O>&"1#"2>AM>&d120#$>& I&J#O&"1O%1&0<I&JS?;=>B&>J#"1=#2>&I&>0>R?1D&81$=1&V<1&??1"<i&>&?>& %;122>&1J<>%#2;>O>&>&J#0;1Ob#$&=1&0>I#&=1&'()3B&I&=<2>O%1&1$%#$&J;OJ#& >+#$&%2>$J<22;=#$B&01&d1&$1O%;=#&J#0#&1O&J>$>D&F#2&1$#&0;$&P>?>R2>$& 21P21$1O%>O& >d#2>& 0<Jd>& %2;$%1b>B& P#2& =1U>2& %>O%#$& >0;"#$& V<1& 1_%2>+>2iD&5$%#&$1&01bJ?>&J#O&?>&>?1"2M>&=1&C#?C12&>&0;&9d;?1&V<12;=#B&?>& P>%2;>&V<1&O<OJ>&#?C;=#B&P<1$&1$%S&1O&?#&0S$&P2#A<O=#&=1&0;&J#2>b]OD& 7#I&>?&;"<>?&V<1&<$%1=1$B&<O&Jd;?1O#&V<1&$;10P21&21J<12=>&>&$<&P>%2;>B& >&P1$>2&=1&?>&?1U>OM>&I&1?&%;10P#&%2>O$J<22;=#D&j&1$%#&P#2&?>&2>b]O&$;0P?1& I&P2#A<O=>&V<1&1$J2;R;]&1?&P#1%>&0>I#2&=1&9d;?1Y&p{0;&P>%2;>&J;2J<?>& 1O&0;&$>O"21&$;O&V<1&O<OJ>&$1&>P>"<1&$<&J>2212>qD 5O&7>O%;>"#B&>$<0;2i&A<OJ;#O1$&1O&?>&8;21JJ;]O&=1&712C;J;#$&9#O$<?>21$& =1?&@;O;$%12;#&=1&61?>J;#O1$&5_%12;#21$&P#2&<O#$&=#$&>+#$B&I&J#O%;O<>2i& C;OJ<?>=#&>&%10>$&J#O$<?>21$B&P12#&>d#2>&=1$=1&9d;?1D&@1&C#I&J#O&?>& $>%;$A>JJ;]O&=1&d>R12&d1Jd#&<O&"2>O&1$A<12b#&P#2&21>?;b>2&0;&%2>R>U#& =1&?>&01U#2&0>O12>&P#$;R?1D&@1&??1C#&?#&01U#2&V<1&P#=M>&=1?&5J<>=#2B& <O>&R1??>&1&;O%1?;"1O%1&=>0>&"<>I>V<;?1+>B&0;&1$P#$>B&V<1&d>&%1O;=#&

nA/A" )& I& 'D& @1$>& 21J1P%#2>& =1?& C#%#& 1O& ?>& 4O;C12$;=>=& 9>$>& :2>O=1& P>2>& Jd;?1O#$& 21$;=1O%1$&1O&5J<>=#2B&=<2>O%1&?>$&P>$>=>$&1?1JJ;#O1$&P21$;=1OJ;>?1$&=1&9d;?1&Z)^& =1&=;J;10R21&=1&'()^[D

$:4/!:5429:/_NR)/F29N)4:, 5_J]O$<?&:1O12>?&=1&9d;?1&1O&:<>I>V<;?&


"+&

% & . $ , ( # + !"'(%)*%* &

L(

>EB> ( JF( @ L I B @ > a FeBE HDIL( DB>D>SFL(w^ X S > ( L (JF(9F DB>TI ?EFLF ID(FS(FDKWI ( 3 D C A BADH>@ JF@AFE -( @ID L(GHF(>XE> J> EFTABA

-"I ,*$(& /A%D,!A# " > B &,(&P.UZ. %0 &" # w *( $ . 3 %! . o 4& *" 1B5%NA" ".&,(&>).4 /54&4*3$.)5 ,& 3 )( *. . 3 *: . $ . &+ " & .&(8)( .4/)(,& $)./()*5 "("&".&M. &(&-*.3&:(3*Q.4/(), )& ".&,(&).7*4/(&4.: 45& .3&:*&$(,* 5 $( 8 U,( $*53.4&".,& 5& )& CpD& &/.3 &".,& .?.: ( 5 5 " */ A ( $ $ ,* # ( $ . U ! &Q 4 4 . ,& ( &, &" 3/ ". *Y3&(&.4/. (4E&$5:5&.`U).4(),. 5,,5& ".,& $535$*:*. *4 : . &) ,( U5)& ).$.I& ".4()) 4&3Z:.)5&/ (& 5-)(& (,& H.3/(3(,. & ).(,*O("5& $53& .4/ )/. U5)& .,& (U5 (E4% ,&U . 3% $#,/#)(,&" 34*".)($*Y 5 &$ ( *" # 8 *4/*3 *.3/54&".&" B53&4.3/*: 3/.I

@/.3/(:. '

!=0 .4 0%,-M}D2 3 5 %2 )* %@ &0 5 !0 / 4 = 3&@8# -"!@-# 8%&954=&W7L %@-%20%M, ,02

,!A%B-#-

"-=,-/0

P.$*-(&#3 &$5)"*(,&4( ,#" ".,& .?.:U ,()& ".&,(&) 5%&K.385&(&-*.3&A($ .), .7*4/(&4.: $#(,&).:*/ .4/)(,& H.3 .&$535$.)&,(&).$.U$ .&U5)&,(&$ *Y3& /( 5 3: 3( ".,&U)5S.$ /5&."#$(/* .:5)($*Y3&".&,54&b ,.4&3Z:.)5&/).$.I& 75&".&,(&R ,(& 3*7.)4*"(" f&([54&".&,(&Q#3"( $ &B *Y ( 3 4(&+)(3". @8)(".O$5 & % &,( ".&,(&*34/* &).:*4*Y3&".&,(&).7*4 /#$ /(I& ,(& 0*-,*5/. *Y3&".&4#&"*).$$*Y3 T#.&)./)(/(&,(&A*4/Y )*$(&$).($ d&,(&$#(,&U $(& +.3.)( *Y3& (4( ,& "5$.3/.4I& .4/#"*(3/. ".& .4/(& *34/*/#$*Y3 )L&(&Q5):()&U()/.&" & U()(& $53 4&S&UZ-,*$ . 5&.3&8.3. 5$*:*.3/5 & )(,% & ".& P.*/.)5& : *& (8)(".$ *:*.3/5& $534*".)( S& 4#4$)*$*Y3&S&.4/* 5& $53& 4 :(% .3/*:*.3/5 4& ".& @/.3/(:. 3/. @H5%,4WKH; I 4%M P.$/5)o>). 8::8QO8Q9LK%D8dLK HQ 4*".3/.&B W2WoR3*7.)4 V4 *"("&".&+ #(S(T#*,


"+! & .,& .37E5& (8)(".$.),. & & /5 ?. 5 & :5 /).$.I& T#. & /*.3.& $5 4& 3Z:.)5& /. 3 ,. ( & 4. 3 /5 ). /( $ U . 3 & S . H ;( U)5 ,& /(& 4.:.4/)( ".& ,(& Q#3"($*Y3& ".,& *4 7 ). & ,( & . " 54& & ,54& bf& ([ $53:.:5)( &RB+% .&,( ."#$(/*75&" .3/(3(,.4& &,(&).7*4/(&H )( ( &U 5 */ ` &= 4&". ?5).4&".4.5 )*-5% B53&,54&:. .3I&:.&4#4$ *8 *) &" ,( 4& . 3 *. # S&U()(&T :.3/.I

'#S&(/.3/(

V%0OY8H8J4

%kKHI]IJK @H5%N48dLXI M P.$/5)&R!!

1.4.(:54&.`U).4(),.4&3#.4 /)5&:L4&4*3$.)5&(8)(".$*:* .3/5& U5)& ,(& "53($*Y3& ".,& .?.:U ,()& ".& ,(& ).7*4/(& 4.:.4/)(, & qH.3/(3(,.4r& 3Z:.)5& /). $.%& !4/.& .?.:U,()& Q5):( )L& U()/.& ".& ,(& 0*-,*5/.$(& ".& ,(& R3*7.)4*"("& ".& ,(4& @)/ .4I& 4*.3"5&".&8)(3&(U5)/.&*3Q5) :(/*75&(&3#.4/)(&$5:#3*" ("& #3*7.)4*/()*(&S&(&,(&$*#"("(3E (&.3&8.3.)(,% B53&4.3/*:*.3/54&".&"*4/*3 8#*"(&$534*".)($*Y3% @/.3/(:.3/.I ,8SQH4%#4HQK98%nKHI]IJKV >).4*".3/.&".&,(&B5:*4*Y3&+. 4/5)(oP.$/5) R3*7.)4*"("&".&,(4&@)/.4

>5)&:."*5&".&,(&U).4.3/.I&$53Q*):5& ,(&).$.U$*Y3&".& ,(&).7*4/(&4.:.4/)(,&H.3/(3(,.4&3Z:.)5&/).$.I&,(&$#(,& :.& U().$.& #3(& U#-,*$($*Y3& *3/.).4(3/.& S& ".& 8)(3& 7(,5)&U."(8Y8*$5%&2.,*$*/5&/(:-*=3&U5)&,54&bf&([54&".& Q#3"($*Y3&".,&U)5S.$/5&."#$(/*75&".&,(&RB+% & @8)(".O$5&(&#4/.".4&U5)&.,&.37E5&".&.4/.&*:U5)/(3/.& :(/.)*(,&S&,.4&".4.5&=`*/5&.3&/5"(4&,(4&($/*7*"(".4&".& ,(&#3*7.)4*"("% & M(,#"54&$5)"*(,.4I & ,4:8OX8%0H;K898%"KHH8I4 >).4*".3/(&!?.$#/*7( 2#3"($*Y3&2W1@;

#(,.4& I&.3&,54&$ (3"5& 3 *Y $ ( ). .&$ ): f&([54&" % 3&7(,E(I&Q5 &U5)&4#4&b)5Q.45).4&".&8)( .).3/.4&$()).)(4 + B &R ( &, *Q &U &( 4 &" 4 4 5 ,( ( # &, : ( 3 2.,*$*/ 4*/("5&U5)&4#4&( &U)5:*45)*54&. & .7*4/(4&( A(3&/)(3 (,.4&$53&Q#/#)54 3/.4&.3/) */(&(&#3(& ( 4 3 ). *5 /. 4 *3 7 I& 3 U)5Q. ).4& Q*$5&T#.&* :U.$(-,. &."*$*Y3&*$53&#3&"*4.[5&8)L #)(,& ".& 4#4& ,.$/54&".& . " )& ,( U ,/ !4/.&.?.: "54&U.)453(?.4I&.)L& .,& ($.)75& $# *5&".&@)T#*/.$/54/L&(& ).35:-)( $/#)(I& .3)*T#.$ ,*5/.$(&".,& B5,.8g%ggg&/5:54&S&. (:.3(& ,.)& U()/.&".&,(&0*- 3&(,)."."5)&".&a &8.3.)(,% (,& Q5):( (I&T#.&$#.3/(&$5 $/54&S&UZ-,*$5&.3 *.3/54& >*$A*3$A 3&".&,54&()T#*/. S& 4.3/*: & /5 3 *. *Y *: $ "*4U54*$ 5& (8)(". .4& 3#.4/) ( " /. 4 # & ( & /*: 54 P.*/.)(:534*".)($*Y3&S&.4 ".&(,/(&$ .3/. A*3$A(& @/.3/(: "5)&S&>*$ ( # $ ! ,& HQ . K 8%.Q; /54&" &@)T#*/.$ O4%14HKQH 0Hd5%M8W/.&".,&B5,.8*5&". >).4*".3 !o>D CB@!sB@




LLLMI/=/KH/D8!M!8NM!I KN/O/PNQ:.R.!IN/8SH /KS=FS.TUVW Q==DXVYWURZYVY


!""!#$%&'(

Congreso Internacional de Investigaciรณn y Ciencias Sociales Primera Cumbre Mundial de Mujeres 2019


0

! " # $ % & # ' (

!"#$%&'()%*+#& !"#$%&$'#$()$*"$+",-."/01"$*"$()%&$+"$1"'#.23$"4$#'$54.6"1+.*'*$ 7'+'$81'4*"$9578:$"#$;;$7<4=1"+<$;4-"14'>.<4'#$*"$;46"+-.='>.34$ "4$7."4>.'+$?<>.'#"+$97;;7?:@$><4$"#$4</01"$ABC"6<+$>'/.4<+$ ",.+-"/<#3=.><+$ D$ /"-<*<#3=.><+$ "4$ 7."4>.'+$ ?<>.'#"+EF$ G<+$ "H"+$*"$-1'0'H<$+"$*.+-1.0CD"1<4$"4$#<+$>'/,<+$*"$#'$"*C>'>.34@$ +<>."*'*@$></C4.>'>.34$D$>C#-C1'$"4$#'$><46"1="4>.'$/"*.I-.>'J$ *"+'11<##<$+<+-"4.0#"$D$'/0."4-'#J$*"+'11<##<$+<>.'#$D$KC/'4<J$ "><4</L'$D$"/,1"+'F

W#$ /.+/<$ -."/,<@$ "#$ "4>C"4-1<$ ,"1/.-.3$ 'K<4*'1$ "4$ #'+$ ,1<,C"+-'+$ .4-"1$ D$ !"#$%&'%(')*'$#"'#%$ +<01"$ #<+$ ,1<0#"/'+$ *"$ #'$ +<>."*'*@$ '4'#.2'*<+$ ,<1$ #'+$ .46"+-.='>.<4"+$ "4$ 7."4>.'+$ ?<>.'#"+F$ G'$ -34.>'$ *"#$ -1'0'H<$ /<+-13$ TC"$ K'0.-'/<+$ "4$ '/0."4-"+@$ ><4-"S-<+$ D$ 1"#'>.<4"+$ *.6"1+'+@$ *<4*"$ +"$ ,1<*C>"$ C4'$-"4+.34$>'+.$,"1/'4"4-"$"4-1"$#'+$,1"/.+'+@$'>>.<4"+$D$#<+$ 1"+C#-'*<+$*"$#'+$7."4>.'+$?<>.'#"+@$#'$"R">-.6.*'*$*"$#'$'>>.34$ +<>.'#$D$#'+$,<#L-.>'+$,U0#.>'+F

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

G<$TC"$/'1>3$C4'$*.R"1"4>.'$./,<1-'4-"$"4$"#$7;;7?$()%&$RC"$"#$ ,1"*</.4.<$*"$#'$,"1+,">-.6'$&+,(,*,$'#*$"4$"#$'0<1*'H"$*"$#'+$ .46"+-.='>.<4"+@$#<$>C'#$0C+>'$1"+>'-'1$#<+$1"+-<+$*"$#'+$>C#-C1'+$ '4>"+-1'#"+$ '/"1.>'4'+$ ,'1'$ +"1$ ><4+.*"1'*<+$ "4$ #'+$ >."4>.'+$ +<>.'#"+$D$+C+$,1<,C"+-'+$'#-"14'-.6'+F

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

7<4$"#$R.4$*"$*'1$>C"4-'$*"#$-1'0'H<$1"'#.2'*<$"4$"#$><4=1"+<@$ -+$!#$#*+%$K'$.4>#C.*<$"4$+C$.,%%'+"/&+/01#2#31'*$C4$><4HC4-<$ *"$ "4-1"6.+-'+$ 1"'#.2'*'+$ '$ #<+$ ><4R"1"4>.+-'+$ .4-"14'>.<4'#"+$ TC"$4<+$6.+.-'1<4@$+<01"$#<+$-"/'+$*"$+C$.4-"1Q+F

!"#$%K:8#'8+ $%'G:L'('8+ 4)$+ M>'"+ (%+ 3G#I'>8N+ 9:$%?#)$+(%+D>5G:?'?:)"%8+(%+G'+A<B;

!"#$%&'()*+,-.,/.0,-1+2+34$)5'()*+,0.,/.0,-1+6+7)&)8*+9:$;+(%+<)=>":?'?:@"+(%+A<B+C+D$)#'&)":8=)+E"F'"#:G+H<I:G%J;

!"##$%&'!%'()*+*,)$-

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%#%&"'()(*+,(!---(./01


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

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

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

!"#$%#%&"'()(*+,(!---(./01

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

!"##$%&'!%'()*+*,)$-

Retos para las Ciencias Sociales desde la investigación y las políticas sociales en Latinoamérica

W


<

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

!"#$%&'()*+,-./,.,/01+2+34$)5'()*+00./6.,/01+7+8)#)*+9:;:+3"($'(%

!"##$%&'!%'()*+*,)$-

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%#%&"'()(*+,(!---(./01


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

!"##$%&'!%'()*+*,)$-

!"#$%&"$' (%)*%+,)-$ .'*-#/-#(0,$ -#'1+2-#*0#,

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

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%#%&"'()(*+,(!---(./01

R


=

!"# $%&'("# )*# %$# (# "(+# +("(+# )*# ,%-*# .(+%/(.*-&*# +*# 0(# 1*$)%)23# 4*-)2#+2"2#("#,%-*5#%6'("#+*#,2.1($&7(#,2-#2&$2+#"(#+("(5#8#*+2#+*# 0(#)*9%"%&()23#:2-#.%-2$7(+#"(+#;'*#/(-#(#'-#,%,"2#)*#,%-*#($&*#2# (#'-#,%-*#,"'93# !"#$%&'$#%$#($)$*&#$#+'$,$-$'#./#&+'&#0$1(&2

<)*.>+5#(02$(#'-2#1'*)*#%$#(#'-(#,"(+*#1($(#(1$*-)*$#(#9(%"($# ("62# -'*/25# ,2.2# '-(# .(-*$(# )*# *-,'*-&$2# +2,%("# &(.9%G-3# ?(8# '-# &*.(# )*# +2"*)()# *-# "(+# 6$(-)*+# ,%')()*+5# '-# ,%*$&2# )*9%"%&(.%*-&2#)*"#"(J2#+2,%("5#12$#"2#;'*#,$*2#;'*#*"#9(%"*#*+#'-(# .(-*$(#)*#(,*$,($+*#(#.',0(#6*-&*3#Q$*-&*#(#*+2#.*#1($*,*#;'*# +'$6*-#"2+#"'6($*+#1($(#%$#(#&2.($#'-(#,"(+*#)*#9(%"*3

<02$(#*+&28#%-/*+&%6(-)2#*"#&*.(#)*#"(#.=+%,(5#;'*#)*#"(+#%-)'+&$%(+# ,'"&'$("*+#*+#"(#;'*#.>+#.*#%-&*$*+(3#?%,%.2+#'-(#*-,'*+&(#(#"2+# ()2"*+,*-&*+# +29$*# *"# '+2# )*# "(+# -'*/(+# 1"(&(@2$.(+# )%6%&("*+# )*# .=+%,(#A42'B'9*5#:12&%@8C5#,'*+&%2-(-)2#"(+#/%*D(+#&*2$7(+#(,*$,(#)*# "(#,"(+*#+2,%("#8#*"#6'+&2#.'+%,("3#!-#*+&*#+*-&%)2#1($*,*#&*-*$#'-# 1*+2#.'8#@'*$&*#"(#"E6%,(#)*"#("62$%&.2#8#"(+#1"(&(@2$.(+#)%6%&("*+3

!B:C;/#0&1./+$'5&#$*505&/$:2

3&4#/&#%$4#+$/+$#5*./+5650$057/#1$)58$#(&'#9/$#)&:$#1;)50$# 4#$9+&'<#4#0$1,5$/#'=(5*&#*.#($'.0.'>#

!+#,2.2#'-#1(+*25#*-#*"#;'*#"(#6*-&*#/(#(#.%$($3#B(.9%G-#+*#1'*)*# /*$#'-#!"#$%#&'()"#&*(&$("5#(#/*,*+#0(,*-#@%*+&(+#*-#"2+#.'+*2+3# ?28#8(#-2#*+#'-#*+1(,%2#,2.2#(-&*+5#("#;'*#+2"2#%9(#"(#,"(+*#("&(5# (02$(#&%*-*#2&$2#)%-(.%+.25#,2.2#'-#,*-&$2#,'"&'$("3

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

?28# &(.9%G-# 0(8# '-# %-&*$G+# 12$# "2+# .'+*2+5# ,'82# 1=9"%,2# 0(# ,$*,%)25#-2#+2"(.*-&*#*+&*#(K2#RSTUVW3#X2+#.'+*2+#(02$(#-2#+2-# +2"(.*-&*#"'6($*+#)*#,2-&*.1"(,%E-5#&(.9%G-5#(#/*,*+5#0(8#,%,"2+# )*#,%-*#8#.=+%,(3

!-#H'*-2+#<%$*+#0(8#.',0(+#(,&%/%)()*+#6$(&'%&(+#(#"(+#;'*#(+%+&*# "(#6*-&*3#Y(-#(#*+(+#@*$%(+#*-#"(#,(""*3#?(8#@*+&%/("*+#*-#1"(J(+3#?(8# .',0(#1$*+*-,%(#)*#"(#,'"&'$(#*-#*"#*+1(,%2#1=9"%,23 !D)&#.)#/9.8&2 :75# +*# 0(# %)2# %-,$*.*-&(-)23# B*-%*-)2# *-# ,'*-&(# ;'*# H'*-2+# <%$*+#+%*.1$*#0(#+%)2#'-(#,%')()#)*#.%6$(,%E-5#*+2#&(.9%G-#0(# .2)%@%,()2#"(#2@*$&(#,'"&'$("3

!"#$%&'()*+,-./,.,/01+2+34$)5'()*+,6./7.,/01+8+9)#)*+:;<;+3"($'(%

!"##$%&'!%'()*+*,)$-

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%#%&"'()(*+,(!---(./01


"#$!%&'()*! %$)'+,)%*! -*!./!0-! 12*($.'&! -&,02&$! /)-*! %0$,02&$3

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

N

!"#$%&'()(%*#+(,-./%',%&#*#%+0$%$#1/(%2.%3,45(/$4).)%67/./4.8 !"#$%&'#()(* +,&)&#)* -#%"%* $)&#)'* '%(%'* .* %'-/* '#-0)()* %"* 12,2-/3* 425267#)8* 90'* :0"()(2&%'* :0%&2"* 6#%67&2'* (%* 5)* ;)<)* +,&)&#)3* =0%*'%*(%'62"->*%"*52'*?@A'BC@A'*D2&*5)*)D%&-0&)*%;2">6#;)*=0%* )D5#;)7)*5)*5>,#;)*(%5*6%&;)(28

!"##$%&'!%'()*+*,)$-

Claudia Patricia Toro: !

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%#%&"'()(*+,(!---(./01

!9:+#%$(%.'-#)(,#+4,.%2.%3,45(/$4).)%67/./4.8

K'-/"* '0:&#%"(28* L2* =0%* %'-/* D)')"(2* %'* =0%* %5* ;)6D2* '%* %'-/* =0%()"(2* '#"* :2&6)'3* %'-/* %"$%<%;#(28* M%;E)* %"* 0"* )&-E;052* 0"* %;2"26#'-)N* OP2'* %'-)62'* =0%()"(2* '#"* )5,0#%"* =0%* ;05-#$%* 5)* -#%&&)3*'#"*0")*D%&'2")*=0%*"2'*(H*)5#6%"-23*.*"2*"2'*#6D2&-)8*L2* 6/'*#6D2&-)"-%*-#%"%*=0%*$%&*;2"*%5*-%6)*)67#%"-)53*5)*'%,0&#()(* )5#6%"-)&#)*.*%5*),0)8*

!"#$%&'#()(* +,&)&#)* '%* (%"26#")* )* 'E* 6#'6)* ;262* 5)* F%7* (%* 425267#)3* .* G)* $%"#(2* G);#%"(2* H":)'#'* %"* 5)* &0&)5#()(3* 6%(#2* )67#%"-%*.*'%,0&#()(*)5#6%"-)&#)8*9262'*60.*70%"2'*%"*#",%"#%&E)'3* ;2"* I?* 5)72&)-2&#2'* =0%* %'-/"* )* (#'D2'#;#>"* (%* 5)'* ;260"#()(%'* D2&=0%*");#62'*(%*5)*%J-%"'#>"*&0&)58

1)<2*%')*D%&'D%;-#$)3*G);%*0"2'*;#";2*)Q2'*%6D%R)62'*)*-&)7)<)&*%"* 0"*D&2.%;-2*=0%*55)6)62'*O)()D-);#>"*(%*;)67#2*;5#6/-#;2*7)')(2* %"*;260"#()(%'S3*%5*;0)5*%6D5%)*0")*6%-2(252,E)*(%"26#")()!"#$%&! $2;)752*"2&0%,2*=0%*'#,"#:#;)*O7)&;2S*.*'%*)'#%"-)*%"*5)*6%-/:2&)* (%5*-&)7)<2*%"*%=0#D2*%"*0"*7)&;23*=0%3*(%*"2*G);%&52*'%*G0"(%"8

!;'<%$'*()(%*#,%2#$%&.=$($%)(%6+</4*.%>.-4,.%?'(%,#%@.,% -(,4)#% &#2=-4*.$% &A124*.$% ($-.12(*4).$% (,% /(2.*4:,% *#,% 2#$% -(//4-#/4#$%/'/.2($8

9#,% /(2.*4:,% .2% *.+14#% *24+0-4*#% B% $'$% *#,$(*'(,*4.$C% !*#,$4)(/.%?'(%2.%@'+.,4).)%($-0%-/.1.D.,)#%(,%(22#8%!;'<% )4*(,%2#$%($-')4#$%*4(,-=E4*#$%B%2.$%($-.)=$-4*.$8


=

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

,&-(1()"&-()A$U01$(440=$?"'0)$"$01<"&,F"1$4"$M('"&"$*(4$G4,'"$(&$ `0<0-5=$").$+0'0$)($6"+($(&$R%(?"$a01b=$01,<,&"4'(&-(A N)-"'0)$ /01'"&*0$ ;10/()01()=$ ()-%*,"&-()$ #$ (';1()"1,0)$ (&$ 4"$ ,';4('(&-"+,7&$ *($ ,*(040<.")$ ;"1"$ "*";-"1&0)$ "4$ +"'2,0$ +4,'5-,+0=$2")5&*0&0)$(&$+0'%&,*"*()$#$(&$*,)-,&-0)$-(11,-01,0)A$B")$ %&,?(1),*"*()$01<"&,F"*01")$;1,&+,;"4()$)0&c$S&,?(1),*"*$R"+,0&"4=$ S&,?(1),*"*$*(4$d0)"1,0$#$S&,?(1),*"*$D<1"1,"A "%'('%('*(/3%$6$3-)1$'-&3(;'(*)()66$>-(;'(*)(%36$';);(6$?$*@( "%( ,-)( /3%&,0)( A,'( ;,0)( 15%( B( '%( 15%( '='6&$?)8( /30A,'( '-&3-6'%(*3%(/3*C&$63%(B('1/0'%)0$3%(%'(?)-()(?'0(34*$+);3%( )()%,1$0*3(&)14$9-@

G1(0$8%($4")$%&,?(1),*"*()$-(&('0)$%&"$1();0&)"2,4,*"*$"2)04%-"$ (&$ 40$ 8%($ H"&%(4$ I%F'5&J$ 44"'"1."$ 94"$ <(&(1"+,7&$ *(4$ +"'2,0$ +4,'5-,+0@$K40)$()-%*,"&-()L=$4"$+%"4$-,(&($(&$)%)$'"&0)$4"$;0),2,4,*"*$ *($ +"'2,"1$ 4"$ ),-%"+,7&A$ M,$ (&$ 40)$ ;17>,'0)$ *,(F$ ":0)$ &0$ &0)$ '0?,4,F"'0)=$ ()-"'0)$ -0'"&*0$ '"4")$ *(+,),0&()$ 8%($ ;%(*(&$ 0+"),0&"1$+0&)(+%(&+,")$&(<"-,?")A

N)$%&$'0?,',(&-0$8%($)($*"$+"*"$?(F$'5)A$B")$1(*()$)0+,"4()=$3%&-0$ "$40)$37?(&()=$-,(&(&$60#$%&$;";(4$()(&+,"4A$S&"$;%24,+,*"*$(117&("$ )021($()-($-('"$;%(*($44(?"1$"$%&"$(';1()"$"$4"$8%,(21"A

"-('%&'(1$%13(63-&'#&38(6319-&'-3%(%340'('*(:$5*3+3(;'(<)*)-3)

M($+"1"+-(1,F"&$;01$)(1$,&-(&+,0&"*")=$;%(*(&$'(*,1)(=$()+"4"1=$)($ ;%(*(&$1(;4,+"1A$N)$*(+,1=$"41(*(*01$*($()-0$;0*('0)$,1$+0&)-1%#(&*0$ 6,-0)$*($)0)-(&,2,4,*"*$8%($-,(&($8%($?(1$+0&$(4$+";,-"4=$"$40$+%"4$ 6('0)$ 44"'"*0$ 9,&*,+"*01()$ *($ +";,-"4$ )0)-(&,24(@=$ 8%($ 2%)+"&$ 1(+%;(1"1$40)$,&*,+"*01()$*(4$+";,-"4$6%'"&0=$)0+,"4$#$"'2,(&-"4A

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

!D,5*'%( %3-( *)%( 6)0)6&'0C%&$6)%( ;'( )A,'**3( A,'( *)( +'-&'( ;'-31$-)(E)66$3-'%(6*$15&$6)%F7

B"$'"#01."$*($4")$,&?()-,<"+,0&()$"4$1();(+-0$<,1"&$)021($4")$+,(&+,")$ &"-%1"4()=$ ;(10$ 40$ 8%($ ()-5&$ *('0)-1"&*0$ &%()-10)$ +,(&-./,+0)$ )0+,"4()$4"-,&0"'(1,+"&0)$()$8%($(4$;1024('"$&0$()$*($-,;0$&"-%1"4$ ),&0$+%4-%1"4=$8%($()$(4$'0*(40$+,?,4,F"-01,0$(4$8%($()-5$(&$+1,),)A J

O,1(+-01$ *($ 4"$ d(*$ B"-,&0"'(1,+"&"$ )021($ G"'2,0$ G4,'5-,+0$ e4,'"/01%'$ B"-,&0"'C1,+"$R(-f01b$TeBR]A

!"#$%&'()*+,-./0.,/12+3+45$)6'()*+7./-.,/12+8+9)#)*+:;<;+4"($'(%

!"##$%&'!%'()*+*,)$-

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%#%&"'()(*+,(!---(./01


!"#$%#%&"'()(*+,(!---(./01

0'1%2"23%#

D*2*$%*2# $"+"8*2# 0+&# :*%8&# )"# 4%*)0-.%# -*+*-.8."+$*1# =0"# "2# 8E2# )",# *%)"+# )"# ,&# 2.80,$&+".)&)# )"# ,/;.-&2F# +*# "2# 0+&# ,/;.-&# &+&,5$.-&1# "C4,.-&$.9&1# )"# -*%$"# "0%*4"*6# 7+# "2"# 2"+$.)*1# 9.+-0,&8*2# &:"-$*1# 2"+$.8."+$*# *# 4"+2&8."+$*# -*+# 0+&# -*+-."+-.&# )"# 9&%.&2# ).8"+2.*+"21# ,*# -0&,# "2# %"2-&$&)*# B*3# 4*%#,&#$"*%5&#)"#,&#-*84,"(.)&)6#?+$"21#2*,*#2"#$"+5&#=0"#4"+2&%# -&%$"2.&+&8"+$"#G,.+"&,8"+$"H6

-$,%#$).'/%#$

!&# -&8'.&)*# ,&# 8.%&)&# ).2$>-+.-&6# ?,;0+*2# "4.2$"8/,*;*2# -*+$"84*%E+"*2# 9&,.)&+# ,&# 2.80,$&+".)&)# *# I,&# 0'.-0.)&)J1# *# $&8'.>+# I4"+2&8."+$*2# 80,$.# 2.$0&)*2J1# =0"# 2"# %":."%"# &# B&-"%# 9&%.&2# -*2&2# &# ,&# 9"K6# @*# =0"# B&-"8*2# "2# 0+&# %",&-./+# )"#9&%.&2#).8"+2.*+"21#.+-,03"+)*#",#4"+2&8."+$*#4"%-"4$.9*#*# I4"+2&8."+$*#.+$0.$.9*J6# !7(08&,1*%,./&9#'&('&/.'+./&1$(&/&#-&*'-(/1,'-08&'(0,%8&*8:0,.86

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

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

%)*'#+(%,'#$

!"#$%&'&(&)*#"+#,&#%",&-./+#"+$%"#")0-&-./+1#2*-.")&)#3#4*,5$.-&6# 72$&2#$%"2#).8"+2.*+"2#9&+#)"#,&#8&+*1#-*+#",#:.+#)"#"+$"+)"%# ",# -&84*# )"# ,&# 4")&;*;5&# 3# ")0-&-./+6# <."+"# =0"# 9"%# -*+# ,&# %"24*+2&'.,.)&)# >$.-&# 3# 4*,5$.-&# "+# ?8>%.-&# @&$.+&6# A"# -"+$%*# "+# 9&,*%&%# 80-B*# ",# -*+$"C$*1# -*8*# ;"+"%&)*%# )"# 2&'"%# 4")&;/;.-*#3#")0-&$.9*6

!"##$%&'!%'()*+*,)$-

!"#$#%&'('#$

!"#$%&'(&(#&')*'+,'-.,/&'-&0'1/(&2'&,-3'(0,4/.,5-6

N


1,

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

!G(1#$;&@$'&-*-52:$4&-+&@-'H4&-:&:()$'(#$'/$&,-&"/-5)'(&-G/"#7(&-+& -:&I(::-&E(8'(,$&,-:&9.F1$;&A+,78-+("&,-&9$:$5)/(4&2$'&-*-52:$4& "()7(+& ?/?/'& ,-& :(& +(#.'(:-F(& "/+& ,-2'-,(':(;& @-'$4& (0$'(& -+& 9$:$5)/(& 0(& (.5-+#(,$& -:& 1.:#/?$& ,-& 1$1(4& :$& =.-& 0('6& =.-& >.5/8.-+&56"&1$+&8:/>$"(#$4&=.-&-"&1(+1-'78-+$;&!"#(&2$"#.'(& +$"& "-'?/'7(& C#/1(4& 2$:7#/1(& %& 1$+#-G#.(:5-+#-& 2('(& 1$+?/?/'& 5-*$'&"/+&#(+#(&?/$:-+1/(&%&1$+&"(#/">(11/$+-"&1$:-1#/?(";

U"7&-";&!"&=.-&-"&"(8'(,$4&"-&1$+"-'?(;&

;#&*+'-.+0%)$&3"&%.,"-"%&.&3",./0-6&*.-.&*-$3'10-&%.+03.%&30<"-"#/"%& /.),0=#4&>#&+.&1070+0?.102#&.#30#.@1$%/"A.@$-0"#/.+6&+.%&30<"-"#/"%& 1'+/'-.%&%"&70#1'+.,.#&1$#&+.&-"10*-$103.34&B"-$&+.%&10"#10.%&8').#.%& "%/9#&%"*.-.3.%&"#&+$%&*.C%"%&.#30#$%D

>%.&*-":'#/.&8.,-C.&I'"&-"%*$#3"-+.&1$#&"+&/0")*$D

9'-$&=.-&,-)-5$"&(2'$2/('+$"&,-&-"#$"&,-"#/+$"&%&1'-('&.+(& '-"/"#-+1/(&2$:7#/1(4&2-'$&-+&-:&"-+#/,$&,-&)."1('&.+&5$,$&-+& =.-&"-&2.-,(&1$+"#'./'&1/-'#("&1.:#.'("&(5)/-+#(:-"&)("(,("& -+& :$"& 1$+$1/5/-+#$"& =.-& #'(7(5$"& /+1$'2$'(,$"& ,-& -"-& ?7+1.:$&#(+&"/5)/3#/1$4&0$5)'-J+(#.'(:-F(4&+$&-:&#-$1-+#'/"5$&

J5+:$&)9%&I'"&1$)"#/.-K E74& 1'-$& =.-& (& +.-"#'(& -,.1(1/3+& #(5)/C+& :-& 0(1-& >(:#(& :(& -"#C#/1(4&1$5$&-"(&1(2(1/,(,&"-+"/):-;&<(8$&:(&2'-8.+#(L&V935$& ::-?(5$"&-"#$&(&:(&-"1.-:(&%&:(&.+/?-'"/,(,W

!"#$%&'()*+,-.,/.0,12+3+45$)6'()*+1,.,/.0,12+7+8)#)*+9:;:+4"($'(%

!"##$%&'!%'()*+*,)$-

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%#%&"'()(*+,(!---(./01


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

95'* ,<#%('* 8%* .#$%'/.E(+.O#* '"#Q* '"+.","E<(* 8%* ,(* +.%#+.(*:*'"+.%8(8*8%,*+"#"+.).%#/"6*'.'/%)('*'"+.(,%'6* /%"&<('*8%*,(*+")5#.+(+.O#6*(#R,.'.'*8%*&%8%'*'"+.(,%'* :* +.%#+.")%/&<(C* H'/R* 8%'(&&",,(#8"* F&":%+/"'* 8%* %'/58."* '"1&%* )"8%,"'* 8%* )%8.+.O#* 8%* ,(* $.#+5,(+.O#* 5#.$%&'.8(8S%#/"&#"*:*)(F('*T.'/O&.+"'*:*(+/5(,%'*8%* ,(*%$",5+.O#*8%*,(*+.%#+.(C

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%&'()"'* +"#* %,* +"#-%&%#+.'/(* 0(1&.%,* 23,%4* !5(&/('6* 75.%#* %'* 8"+/"&* %#* !.%#+.('* 9"+.(,%'* :* ;",</.+('* 8%* ,(* =#.$%&'.8(8* >1%&"()%&.+(#(* ?@3A.+"BC* D+/5(,)%#/%6* %'* 8"+%#/%* %#* ,(* =#.$%&'.8(8* 8%* D#/."75.(6*.#/%E&(*%,*E&5F"*G%8%'*:*D+/"&%'*9"+.(,%'*:*,(* GHI>!JKJ9L*:*%'*+"#'%M%&"*8%,*;&"E&()(*K(+."#(,*8%* !.%#+.(6*N%+#","E<(*%*>##"$(+.O#*8%*!.%#+.('*9"+.(,%'6* P5)(#.8(8%'*:*H85+(+.O#*8%*!",+.%#+.('C*

!"##$%&'!%'()*+*,)$-

!"#$%& '()"*!(%& +)()&%&#!&*, $)#"-!.)

!"#$%#%&"'()(*+,(!---(./01

UU


10

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

$V)1./."'/-)$1#4#=+).#$+$*+$N#)#1'7.$#)$C'"+5(&9 $Q#5/5+$5#$<(1/'/-)$!"#$%&$'($5#$")+$&#%/1.+$/)5#>+5+$#)$&#*+'/-)$'()$.(5+1$ *+1$5#$1"$2&#+9 I J

!"#$%&'()*+,-.,/.0,12+3+45$)6'()*+,7.,/.0,12+8+9)#)*+:;<;+4"($'(%

!"##$%&'!%'()*+*,)$-

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%#%&"'()(*+,(!---(./01


!"#$%&'()*%&&#+,-.//$)#$)0"12#$1"()('3.45() #4)&()6(7.&5(')'#)8%'975%7()#4):%";%4%()*#7<) =>$5('1$) ?4%'1$@A) '14'#) 5(B/%C4) 1/5.D1) .4) '1751"('1) #4) >'.7(7%E4) F.&5%7.&5."(&G) >&&() 41$) 71B0("5#) $.$) %4D#$5%;(7%14#$) $1/"#) &() (.51#541;"(2H() 7"H5%7() +) 7EB1) $#) '#/#).$(")#$5#)BC51'1)#4)&($)%4$5%5.7%14#$) '#)#'.7(7%E4)$.0#"%1"G

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

!"##$%&'!%'()*+*,)$-

!"#$%&'()"*+$"# ,-!#,$.!'/'#-*#!"# "0)'-)*'/("12"#+(2)$+"

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%#%&"'()(*+,(!---(./01

IJ


1-

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

N4&'5'*,-+2$-'+-';#=4#/'),0;%':.-'%$,3,/#"+-/(-'-"'#2-"",)%'-$#' U-""-*&' :.-' ;#=4#' #"3K/' +#$,/-$%' -*2#C%"' :.-' /#.9$#3<' -/' "#' 0%*(#')-'S$"#/)#&'-/'VWXX&'5':.-'/%'2.)%'$-3$-*#$'#'D*2#C#&'#*4' :.-'*-':.-)<'5'*.'/%+=$-'-$#'U-""-*&'0%/A,$(,B/)%*-'".-3%'-/'-"' #/3",0,*+%'FU,""-5I>'Y%'*B'*,'*-#'A-$)#)>'M'O.==*'-*')-'+,'-*2%*%&' :.,-/'-*'#"-+8/>' G/$.':#)/$%#(*5'#1$51$%9#2$#$%$#$%)(H'*:#)'17/$#/%&$2#*'# C(-*(#</;#-+$. R$#0,#*&'0$-%':.-'-*(8'-/'"#'*#/3$->

!"#$%&'()*+,-.,/.0,12+3+45$)6'()*+,7.,/.0,12+8+9)#)*+:;<;+4"($'(%

!"##$%&'!%'()*+*,)$-

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%#%&"'()(*+,(!---(./01


!"#$%#%&"'()(*+,(!---(./01

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

:*.#&*)4"0*)1'/#':*3#-."+)4"5*'8,)1".)."3)'#*' 8()$%)"+*;'7-.)/0-'F*"/0-6'G,-40'?0$#*.)&' #-)'$#.0/010+2)'#*'/"?#&#*.#-'%)2-#-6

!"##$%&'!%'()*+*,)$-

!"#$%&'()'*'+,%-./01020(3,&% +#,2'/,/'4,&%,2/.5),/'4,&6

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%&'()*'+",-./&'*) *.0.,0$&.1.2.(3) 1$,'"#$%&'()*'+",)2&$4")&'#)

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

JK !"#$% &'(#)'% *+,-.('-/% )+'01% 2+(+34#1,+/%2+,5'6$7%2+,%8',01,1('$% $+46'%(1%#3)+601,2#1%9'%#3)('3',016%',% !10#,+13:6#21%",1%,"'51%3'0+9+(+;<1% 1(0'6,10#51%9',+3#,191%=#,5'$0#;12#7,% )+:0#21>?%@(%'$%31;<$0'6%',%!#0'610"61% GH OD 3RQWL½FLD 8QLYHUVLGDG -DYHULDQD A% 0#','% 'B)'6#',2#1% ',% '(% 1,.(#$#$% 9'(% 9#$2"6$+% (#0'616#+% A% '$0"9#+$% $+2#1('$% A% 2"(0"61('$/% 1$<% 2+3+% ',% '(% 06141C+% 2+(14+610#5+% ',% 3'9#+$% 1"9#+5#$"1('$% A% 0'2,+(+;<1$% 9'% (1% #,D+6312#7,% A% (1% 2+3",#212#7,?% E20"1(3',0'% '$% )$#27(+;+% ',% (1% F,#5'6$#919% G1,0+% H+3.$/%I+(+34#1?


,<

!"#$%&'()(*#'+,'-.*,'/%-%

0<':)=".*#$':#$#')(':>=".*%'(%',+:,*.#".+/#6

!"#$ %&'$ ()$ (*+(,(-+./-$ 01($ (*2,.3.,$ /-(*"&$ (*$ /&,&$ /(,*-4&*$ 5(*+&2&5&*$ '$ 3-%(6.&*7$ 8$ (*+-*$ 9:;(4(*$ )(*$ 5(2"&$ 01($ 4-$ (;&)1&6-*$*.$(,&4$-$4-$/-(+&*#$*.4-$01($(*2,.3.(,&4$5(*5($*1$ *(4+.5-7$!1,<.(,-4$6(+=>-,&*$6&,&;.))-*&*7

!"#$ /-,01($ (*-*$ 9:;(4(*$ 4-$ ;&4$ &$ )((,$ ,(;.*+&*7$ B&'$ 01($ 2,(&,$ &*/(2+-*$ 5()$ 2-4-2.6.(4+-#$ /&,&$ 01($ ())-*$ *($ *.(4+&4$ (6/-5(,&5-*7$E))-*$+.(4(4$5(,(2%-$&$*&3(,$01($*($%&2(4$2-*&*$ (4$)&$.4;(*+.<&2.:4$2-4$-+,-$+./-$5($)(4<1&9(7$S-,$(9(6/)-#$%&'$ 14$/,-'(2+-$5($+(D+-*$5($>.22.:4$*-2.-):<.2&$01($*($/13).2&$(4$ ()$3)-<$!-2.-)-<.2&)$T.2+.-4$?&<&I.4(7

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`7$!-4$(9(,2.2.-*$01($,(>)(9&4$()$6145-$(4$01($;.;.6-*7

!"#$%&'()*+,-.-/.0-,1+2+34$)5'()*+,,.-/.0-,1+6+7)#)8*+9:;:+3"($'(%

!"##$%&'!%'()*+*,)$-

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%#%&"'()(*+,(!---(./01


!"#$%&'(#)&*$+,$'#%-#%&*. !"#$"%&'$()(')*('+&,-('$").",/0(1")2()0&)334)526&%)3"%-')2()378-#") 9) ,&6:+$(%) (') !(+&%%"00") (2;#&$-<") 9) +"#-&0) 2() .=>!5) ?) @'-<(%+-2&2) *(2&6A6-#&) >&#-"'&0) 2() ."0",B-&C) D-"0($$&) D(6&) E;() ;'&) 2() 0&+) #"'E(%('#-+$&+) -'$(%'&#-"'&0(+) 2(0) .==.F) GHIJK) L&) ('$%(<-+$&,"+) /&%&) #"'"#(%) ,M+) +"B%() +;+) (+$;2-"+) +"B%() 0&) /(2&6"6:&) (') 0&+) .-('#-&+) F"#-&0(+)9)N;,&'-2&2(+K !"#$%&'(&(#&$)'*&+'&,-.'(/,0*1,2-3

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

!"##$%&'!%'()*+*,)$-

!"#$%&&'(!%)'*

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%#%&"'()(*+,(!---(./01

IO


1<

!"#$#%&'('%)'*'+,#%#-%&.#+*'/%*#+'%#-%"$&'$)&"#$,#%$'%#)% #-%'+01$")('2%

3$%-'%4.#%#),1(')%516-1$7'

D$%65&043/5#/$%,"),"%3&%43&'$%,"%A0)'5%4"?$#5'0A$%?%&"75'0A$*% 4"#$%);%)"#%($&)(0"&'")%,"%<3"%)$6$)%6.)%(3"#4$%<3"%45/5=#59% :"#% ($&)(0"&'")% ")% )"#/$% "&% &3")'#$)% 4#$(")$)% 6"&'5/")*% ,"% &3")'#5%)"&)0=0/0,5,*%6$A060"&'$*%-#75&$)*%4$#<3"%&$%>5?%3&5% 65&"#5%5=)'#5('5%,"%)"#%($&)(0"&'")9%@$%#5(0$&5/%")%($#4$#5/*%&$% >5?%$'#$%/375#%,"%/5%#5C-&%<3"%"/%(3"#4$%>365&$9

2)%3&%'04$%,"%#"/5(0$&560"&'$*%4"#$%)0%"/%0&($&)(0"&'"%&$%'0"&"% 3&%/375#*%"&'$&(")%&$%"80)'"9%%

3$,'$&#)/% 8&+##% 4.#% #-% 516-1% ?% -'% +1&"'$1-% #),<$% B.$7"71)% *-#$1(#$,#%&'$%#-%'+01$")(':%

3)%.$%).*.#),' :;*% 4"#$% ")% 3&% )343")'$% <3"% )$/$% '0"&"% "84#")0-&% $% /375#% ("#"=#5/6"&'"*%")%<3"%&$%&$)%73)'5%4"&)5#%"&%"/%5=)'#5('$9

E#"$%<3"%)"%43","%A"#0F0(5#9%G30"&")%")'56$)%>5=/5&,$%H"&%"/% EIIE:J*%/$%>5("6$)%($#4$#5/6"&'"*%")%3&5%#"/5(0-&%*!+"$&%$,%$)-./ @5)%45/5=#5)%)$&%$&,5)%<3"%)5/"&%,"%&3")'#$)%(3"#4$)*%4"#$%/$% <3"%")'.%)3(",0"&,$%")%5%'#5AK)%,"%3&5%#"/5(0-&%*!+"$&%$,%$)-./

3$,'$&#)/% 8-')% 1$"(1-#)% ,1(6"9$% ,'(1$% 7#&")"'$#)% "0.1-% 4.#%-')%5.(1$'):

3$%&'$&-.)"C$/%8&C('%)#%'+"#$,1+D1%#),1%$.#E1%*#710'0D1:%8F.<-%#)% ).%#),+1,#0"1:%8G.9%#)%-'%4.#%*-1$,#1%)'6+#%&C('%"(*-#(#$,1+-1:%

:;*% ,"% >"(>$*% "/% 4#$(")$% ")% 63?% )060/5#% ?% 7#5&% 45#'"% ,"% /5% "84"#06"&'5(0-&% ,"% /5% !"#$%"&%!%'()% >5% )0,$% ($&% 5&065/")9% @$)%4#$(")$)%)$&%63?%)060/5#")*%5%&$)$'#$)%&$)%73)'5%4"&)5#&$)% ($6$% )"#")% #5(0$&5/")*% 4"#$% &$% /$% )$6$)% '5&'$*% 5/% 6"&$)% ")$% 63")'#5%/5%0&A")'075(0-&9

2)'$% &$)% //"A5% 5% #"A5/$#5#% 4",57$7;5)% <3"% ?5% "#5&% 064$#'5&'")% "&% @5'0&$56K#0(5*% ($6$% /5)% L!",57$7;5)% ,"% /5% '0"##5MN% /$)% 7#34$)% 0&,;7"&5)%?%$'#$%'04$%,"%($63&0,5,")%#"(34"#5&%63(>$%)3)%)5="#")% 5&(")'#5/")%?%5'0"&,"&%6.)%5%/5%"84"#0"&(05%A0'5/%<3"%5%/$)%/0=#$)9

!"#$%"&'$&(")*%+,-&,"%")'.%"/%0&($&)(0"&'"1

8;'% )#% 51% *+#0.$,17'% )"% (<)% 4.#% )#+#)% +1&"'$1-#)% )'(')% )#+#)%7#%-#$0.1=#: !"#$%")%<3"%"/%/"&735B"%")%3&5%#5(0$&5/0C5(0-&*%")%3&5%65&"#5% ,"%"84#")5#%&3")'#5%"84"#0"&(05%A0'5/*%4"#$%&$%)$&%/5)%45/5=#5)% /5)%<3"%($64$&"&%$%,"'"#60&5&%"/%"B"#(0(0$%,"%/$%#5(0$&5/*%)$&% 6.)%/$)%4#$(")$)%6"&'5/")%<3"%")'.&%064/0(5,$)9% 3$,'$&#)/% )#0>$% #)1% *'),.+1/% -'% 4.#% 51?% 4.#% 51&#+% #)% (1$"*.-1+%#-%'+01$")('%5.(1$'%*1+1%4.#%-1%0#$,#%1*+#$71% (#='+/%8.$%&1(6"'%0#$9,"&': 2)%/$%<3"%>"6$)%>"(>$%,3#5&'"%'$,5%/5%>0)'$#059 8@1?%4.#%#$)#A1+-#)%(<)%6"#$%1%(1$"*.-1+%#-%&.#+*'%?%$'% ,1$,'%"7#1):%

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

!"#$%&'()*+,-./0.,/12+3+45$)6'()*+,0./0.,/12+7+8)#)*+9:;:+4"($'(%

!"##$%&'!%'()*+*,)$-

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%#%&"'()(*+,(!---(./01


!"#$%"&'(')%"&*#'+( ,#-*#.")$#'

!"#$%#%&"'()(*+,(!---(./01

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

!"##$%&'!%'()*+*,)$-

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½FLD 8QLYHUVLGDG -DYHULDQD GH %RJRWi

T$1"7.(%.'$1%&$,":(:8"1%65$%'"1.'$"U%R-"9%7"1%>&$,":(:8"1%,$%7"% .*$''"B9%65$%1(-%5.*7*/","1%&('%7"1%#(+5-*,",$1%"<'(%,$7%V"#8<*#(9% 65$% &"1"-% &('% 7"% .*$''"% ;% 15% '$7"#*=-% #(-% $7% '8(G% W.'"9% ,$% 7(1% "*+"'"19%#5;"%#(-1.'5##*=-%,$7%1"3$'%$1%#(7$#.*N"G%X%7"%.$'#$'"9% 65$% 1(-% ,$7% A"'*3$% ,$% A(7(+3*"9% V5$'.(% T*#(% ;% T$&Y37*#"% D(+*-*#"-"9%,(-,$%$7%"&'$-,*/"4$%*+&7*#"%"%.(,"1%7"1%+54$'$1% ,$%7"%<"+*7*"%$).$-,*,"G%

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

/(&0),1#'(2#'2#(3$&(4"'"5$(2#%)*)$"&*

4Y


,/

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

T

U"-634$48-&0+%4$*40$C404)&'$5$7&3+*+-,*+40&'M#$&0$&'(,F431

!"#$%&'()*+,-./,.,/01+2+34$)5'()*+00./6.,/01+7+8)#)9*+:;<;+3"($'(%

!"##$%&'!%'()*+*,)$-

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%#%&"'()(*+,(!---(./01


!"#$%&'(%))*%++*%,#%-.%/#010#%23,3$%',.% 4'53$%3,%6.%"$37103,81.%03%6.%93/:;618.<

!"##$%&'!%'()*+*,)$-

.,++-$:&4+,>#2>&:&J2>-+)&K$(;6&L&H2#2M&J2>N*:.2#*:&OH+,1N$P

?$,;*$-&4(;@$*&!(>),-+&)*&!(A*$*B

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%#%&"'()(*+,(!---(./01

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

!"#$%&'()%*"# !"#$ %&.&'+"#$ -,$ 6"2+.+"#$ "'5.&J=")."'(,#$ ,'$ K&)(,"2E)+%"$ D*#%"D"'$ ."$ .+D,)("-$ -,$ ),.+5+:'4$ =,)&$ #*#$ %),,'%+"#$ 6*,)&'$ ,.$ 6"%(&)$ -,(,)2+'"'(,$ ,'$ %&'#()*+)$ ,.$ ="=,.$ -,$ ."$ 2*L,)$ ,'$ ."$

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

89


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

5%)&Z*# $%"# "#$%&'! (#')# ')2'"-[%# 6-%# %"# &)"# +)'1*"# $%# "*# ,-.%&# '),)#*,*#$%#'*+*#"*#12$-'%#*#-2#'),E)&5*,1%25)#+-,1+)7#L1# %+5*# +%# +*"%# $%"# E*E%"# *+102*$)D# %+# $%+E&%'1*$*# <R)&&1205)2# [# _%F"D#@C=>A7#

!2#'-*25)#*#"*#5%)&Z*#LYRD#")+#,%$1)+#+)'1*"%+#&%')2)'%2#$)+# %+5%&%)51E)+a#'*"1$%H#[#'),E%5%2'1*7##B#_R#"%#')+5*F*#(*F"*&#%2# EcF"1')#E)&#"*+#'&Z51'*+#$%#2)#'*"H*&#%2#%"#&)"#$%#"*#,-.%&'15*#$%# -2#(),F&%#/-%&5%#[#"*#'*"1/1'*&)2#$%#/&Z*7#L-#'),E%5%2'1*#/-%# '-%+51)2*$*#E)&#*'-+*'1)2%+#$%#')&&-E'132#%2#%"#0)F1%&2)#$%# R"125)2D#%2#B&N*2+*+D#[#")+#/*,)+)+#dC#,1"#')&&%)+#%"1,12*$)+7##

J*# 5%)&Z*# $%# "01/)2!341/%5%$&/%#.# 2)+# $1'%# 6-%# %"# )1/&/41!74#! %+# "%0151,*$)D# *-26-%# %"")# *,%2*'%# %"# F1%2%+5*&# $%"# 0&-E)7# R)&&1205)2#[#_%F"#<@C=>A#&%')2)'%2# !+5)# E)$&Z*# %^E"1'*&# %"# 4)5)# $%"# (),F&%# F"*2')# [# $%# "*# '"*+%# 6-%# (-F)# 4)5)# *251# _1""*&[# [# 4)5)# )F&%&*D#$%+*/1*$)+#E)&#"*#0")F*"1H*'132#[#$%#E%&$%&#+-#,*[)&Z*# C:D#)$:'+E))(FG99 E&)# 9&-,E# E)&# %"# 2*'1)2*"1+,)# E)F"*'1)2*"7#:)#*$,15%2#'*,F1)+7# F"*2')D#%"#*5&*'514)#$%#&%5)&2*&#*# ")+#*Q)+#`C#[#-2*#:)&5%*,P&1'*#E&%$),12*25%#%2#%"#,-2$)7#\%&)# J*+#+-0%&%2'1*+#$%#"*+#*-5)&*+#eR)&&1205)2#[#_%F"#<@C=>Ae#E*&*# %"# +%+0)# $%# 0P2%&)# /-%# %"# /*'5)&# $%5%&,12*25%7# J*+# 5%)&Z*+# 6-%# ,%.)&*&# "*+# E)+1F1"1$*$%+# $%# 5%2%&# -2*# E&%+1$%25*# %2# !!7# 887# 12'"-[%&)2#%2#+-#*2G"1+1+#+)2a#%"#+%^1+,)#*F1%&5)#[#%2'-F1%&5)b!"#$%&'! %+#5%2%&#+%,1""%&)+D#,*[)&#2c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fD#[#")+#&%+-"5*$)+#12$1'*2#6-%#")+#

!"#$%&'()*+,-./0.,/1-+2+34$)5'()*+16./7.,/1-+

,,

!"# $%&%'()# $%# "*+# ,-.%&%+# *"# +-/&*01)# +%# &%')2)'13# %2# 4*&1*+# 2*'1)2%+#*25%+#6-%#%2#!!7#887#9*25)#%2#:-%4*#;%"*2$1*#<=>?@A# '),)# B-+5&*"1*# <=?C@AD# E)F"*$)+# E)&# ,10&*25%+# F&15G21')+# 2)# E-&15*2)+D#")+#(),F&%+#5&*F*.*&)2#"*#51%&&*#F&*H)#*#F&*H)#')2#+-+# ,-.%&%+7# I-%&)2# ")+# E&1,%&)+# %2# *E&)F*&# %"# +-/&*01)# /%,%212)# $%+$%#+-#/-2$*'132#&%E-F"1'*2*7

8%$'9(:"%+;%$$'$)+<+;)#)+=>?+@%AB

!"##$%&'!%'()*+*,)$-

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%#%&"'()(*+,(!---(./01


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

"0%!'%)!.'R$#!)2!.)%+05!42!?)#1,+0!+$./"#)1)!()!-,+0!-,$.?#$! $2!?)#1,+0!^.).7!")#,_0-)`:!+$!#$-?)2+0!)!2)-!.,%0#S)-:!.,$%1#)-! $2!#$?'32,")%0!()!-,+0!$2!?)#1,+0!^?)?75Ì€!a$#$.0-5 7#3#5#'$%82 Q)#,)%:!45!b!Y0301c):!Q5!JCDEFN5!W2)*,%;!1($!T#'.?!Q)#+V!\)-"'2,%,1*! T(#$)1!)%+!1($!65Y5!CDEM!W#$-,+$%1,)2!42$"1,0%5!,-.&#':!/:!E=M5! (11?-Vdd+0,50#;dED5EEGGeCBCHGFDCHEEGGIDM]] Q0##,%;10%:!f5!b!P$32:!\5!JCDEFN!f.$#,")!"2$)#2*!,-!%01!#$)+*!80#!)! 8$.)2$!?#$-,+$%1V!L(*g!01#(2&!3456&78"'&!35()95:).2#'&-);5<)5 :)!8")(!&-)(25=-#")(2:! >?JEN:! HE=IH5! (11?-Vdd+0,50#;dED5EEDFd 4[h=DF=CDEG=DEGi K,-L00+:! K5! JEi! +$! %0>,$.3#$! +$! CDEMN5! A(*! +,+%`1! 1($! 6%,1$+! Y1)1$-! $2$"1! )! 8$.)2$! ?#$-,+$%1g! @-"295 0.-)-$&.5 A-"#$B! j$"'?$#)+0!+$!(11?-Vdd3,152*dChBTO]A \022$#! h%-1,1'1$5! JG! +$! .)#90! +$! CDEFN5! T($! f.$#,")%! W'992$! k! A(*! ()-! 1($! 6%,1$+! Y1)1$-! %$>$#! ()+! )! 8$.)2$! ?#$-,+$%1g! j$"'?$#)+0!+$!(11?-Vdd3,152*dHE0'[GF W02,1,"0!\);)9,%$5!J%0>,$.3#$d+,",$.3#$:!CDEGN5!A,22!f.$#,")!4>$#! P)>$!)!A0.)%!W#$-,+$%1g!C-2&!&.-5D(+(E&)85!j$"'?$#)+0!+$! (11?-Vdd?02,1,5"0dC(Fl>cm! n55 !o@TfV!K)-!1#)+'"",0%$-!)2!$-?)_02!+$!",1)-!0!1S1'20-!-0%!#$-?0%-)3,2,+)+!+$! 2)!)'10#)5

W#,.$#)!.'R$#!$-1)+0'%,+$%-$!$%!-$#!")%+,+)1)!)!2)!a,"$?#$-,+$%",)!+$!20-!445!665 W#$-,+$%1$!+$!20-!4-1)+0-!6%,+0-:!?0#!-'!)"#/%,.0!$%!,%;2<-5

E

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

C

!"#$%&'()*+$,*-. \);S-1$#! $%! 4+'")",/%! Y'?$#,0#:! h%>$-1,;)",/%!$!h%%0>)",0%$-!W$+);/;,")-! +$! 2)! 6%,>$#-,+)+! Q)-)! p#)%+$! J6QpN5! [0"$%1$! 8'%+)+0#)! +$! 2)! 4-"'$2)! +$! Q0.'%,")",/%! \/%,")! P$##$#)! JQ(,2$N! $%! p')*)&',25![0"$%1$!8'%+)+0#)!+$!2)!6Qp:! +0%+$! +$-$.?$_/! $2! ")#;0! +$! +$")%)! +$! 2)! B)"'21)+! +$! Q0.'%,")",/%! *! $-! )"1')2.$%1$!-'!j$"10#)5

!"##$%&'!%'()*+*,)$-

!"#$%&'!('! "#$$%! &'$! ()*! +,-"#,.,%)",/%! "0%1#)! $2! (0.3#$! *! &'$! 445665! $-17! +$.)-,)+0! 8$.,%,9)+0:! &'$#,$%+0! #$10#%)#! )! '%)!-0",$+)+!;<%$#0="0%>$%",0%)25!42!?)1#,)#")+0!).$%)9)+0! #$"'##$!)!2)!(0.0803,)!*!2)!3$2,"0-,+)+5

!"#$%#%&"'()(*#+,"-'+.%.(/%'%(0-%#."

!"#$%#%&"'()(*+,(!---(./01

/0



Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.