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&ROFKmR FDVDO 7HFLGR SROLpVWHU SROLSURSLOHQR 1tYHO GH FRQIRUWR PDFLR 3URWHomR DQWL iFDUR PRIR DOpUJLFR

02/$ 32&.(7 $7e .* 325 3(662$

FP

$12 5

WLD *DUDQ 75$

(;

2%-(726 '( '(&25$d®2 9(1','26 6(3$5$'$0(17(

FP

FP

0DWHULDO 0'3 PP $FDEDPHQWR YHUQL] DOWR EULOKR 3LQWXUD UHYHVWLPHQWR 89 'REUDGLoDV SUHVVmR PHWiOLFDV 6LVWHPD GH PRQWDJHP IL[DomR $FRPRGDomR 79 VRP YtGHR 3X[DGRUHV WLSR SROLHWLOHQR 'LVSRQtYHO WDPEpP QD FRU SUHWR URYHUH $12 5

+25É5,26 (67(1','26

)XQFLRQDPRV DRV GRPLQJRV H IHULDGRV SDUD VXD PDLRU FRQYHQLrQFLD

&2035( ( +$%,/,7( 6(8 &(/8/$5

7RGDV DV RSHUDGRUDV QD %HPRO 6HX DSDUHOKR KDELOLWDGR QD KRUD GD FRPSUD

WLD *DUDQ 75$

(;

48$/,'$'( 9$/25,=( 6(8 ',1+(,52 &2035$1'2 48$/,'$'(

606 %(02/

&OLHQWH %HPRO UHFHEH WRUSHGRV VREUH FRPSUDV UHDOL]DGDV HQWUHJDV H OHPEUHWH GH YHQFLPHQWR


&RQMXQWR (VWRIDGR *DUDQWLD GR IDEULFDQWH DQR 6RPRSDU &KDGH 9' 7HFLGR &KHQLOOH 3pV QD FRU DOXPtQLR 3HUFLQWDV UHVLVWHQWHV $ 9LVWD 5 0DGHLUD UHIORUHVWDGD [ [ 5 VHP MXURV $OWXUD FP 2X [ [ 5 3URIXQGLGDGH FP 7RWDO D SUD]R 5

7HFLGR OLVR FRP DVVHQWR OLVWUDGR 'HVPRQWiYHO

FP

$12 5

FP

P F

FP

3257$6

*$9(7$6

FP

3257$6 P

FP

FP

F

2%-(726 '( '(&25$d®2 9(1','26 6(3$5$'$0(17( FP

*DUDQWLD GR IDEULFDQWH DQR .LW 3 * %HUWROLQL 0DWHULDO &KDSDV GH $oR & 9'5 &= 3RUWD FRP YLGUR &ULVWDOHLUD 3UDWHOHLUD UHPRYtYHO $ 9LVWD 5 [ [ 5 VHP MXURV 3X[DGRUHV $%6 PHWDOL]DGR 2X [ [ 5 3LQWXUD (OHWURVWiWLFD D 3y 3pV UHJXOiYHLV 7RWDO D SUD]R 5

3257$6

3(d$6

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

FP

FP

*DUDQWLD GR IDEULFDQWH DQR 0DWHULDO FKDSD GH DoR *DYHWDV LQWHUQDV &ULVWDOHLUD 3UDWHOHLUDV UHPRYtYHLV 3X[DGRUHV WLSR $%6 PHWDOL]DGR 3LQWXUD HOHWURVWiWLFD D Sy 3pV UHJXOiYHLV 'LVSRQtYHO WDPEpP QD FRU YHUGH

3257$6

FP

.LW 3 ,WDWLDLD $QLWD , & %5

*$9(7$6

FP

FP

6,*$ 126 ( ),48( 325 '(1752 '( 126626 /$1d$0(1726 ( 35202d¯(6

FP

&RSD 3 $oR 1REUH /RQ $0 $& %5 3

$ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

FP

FP

*DUDQWLD GR IDEULFDQWH DQR $VVHQWR DFROFKRDGR &RU GR DVVHQWR SUHWR 0DWHULDO WXER $FDEDPHQWR YHUQL] SX 7DPSR WLSR YLGUR VHULJUDIDGR )RUPDWR GR WDPSR UHWDQJXODU

$VVHQWR DFROFKRDGR &RU GR DVVHQWR FLQ]D 0DWHULDO IHUUR $FDEDPHQWR YHUQL] SURWHWRU 7DPSR WLSR YLGUR WHPSHUDGR )RUPDWR GR WDPSR UHGRQGR $12 5

ZZZ EHPRO FRP EU

/RMDV %HPRO

3(d$6

FP

#EHPRORQOLQH

%DOFmR 3 * %HUWROLQL *DUDQWLD GR IDEULFDQWH DQR & 3LD &= 0DWHULDO FKDSD GH DoR 3LQWXUD HOHWURVWiWLFD D Sy 3UDWHOHLUD UHPRYtYHO $ 9LVWD 5 'REUDGLoDV WLSR SUHVVmR [ [ 5 VHP MXURV [ 3X[DGRUHV WLSR $%6 PHWDOL]DGR 2X [ [ 5 3pV UHJXOiYHLV 7RWDO D SUD]R 5

&RSD 3 NDSSHVEHUJ 7 0 & 9'5 %5 &= $ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

(;

%DOFmR 3 * *DUDQWLD GR IDEULFDQWH DQR ,WDWLDLD 7HF ,*+7 %5 37 0DWHULDO 0'3 3LQWXUD HOHWURVWiWLFD D Sy $ 9LVWD 5 3UDWHOHLUD UHPRYtYHO [ [ 5 VHP MXURV 'REUDGLoDV WLSR SUHVVmR 2X [ [ 5 3X[DGRUHV WLSR $%6 PHWDOL]DGR 3pV UHJXOiYHLV 7RWDO D SUD]R 5

$ %(02/ (67É 1$6 5('(6 62&,$,6

*$9(7$6

WLD *DUDQ 75$

WLD *DUDQ 75$

$12 5

(;

WLD *DUDQ 75$

(;

(&2120,$ 72'26 26 352'8726 '(67( (1&$57( (67®2 &20 35(d26 35202&,21$,6 ( 6,1$/,=$'26 1$6 /2-$6 &20 80$ (7,48(7$ $0$5(/$ 3(d$6

2)(57$6 9É/,'$6 $3(1$6 3$5$ $6 /2-$6 '( 0$1$86 9$/,'$'( $ 28 $17(6 2&255(1'2 2 7e50,12 '2 (67248(

(VWRIDGR &DQWR %RP 3DVWR 6WDU 90 $ 9LVWD 5 [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

)RWRV PHUDPHQWH LOXVWUDWLYDV

0yYHLV

FP FP

FP $12 5

6DOD 3 6RPRSDU 7XULP 37 71 &0 05 7XULP 37 71 &0 05

P

$ 9LVWD 5 [ [ 5 VHP MXURV [ [ 5 VHP MXURV 2X [ [ 5 7RWDO D SUD]R 5

WLD *DUDQ 75$

(;

*DUDQWLD GR IDEULFDQWH DQR $VVHQWR DFROFKRDGR &RU GR DVVHQWR PDUURP 0DWHULDO IHUUR FURPDGR YLGUR $FDEDPHQWR FURPDGR 7DPSR WLSR YLGR ODSLGDGR )RUPDWR GR WDPSR TXDGUDGR

&RSD 3 6KHOGRQ 9'5 ,0% $&( 9'

FP

FP

FP

FP

6DOD 3 $oR 1REUH $12 0XP $1 $1 $ &0 37 5

WLD *DUDQ 75$

(;

FP

FP

3(d$6

$ 9LVWD 5 $VVHQWR DFROFKRDGR [ [ 5 VHP MXURV 0DWHULDO 0') 7XER 2X [ [ 5 $FDEDPHQWR YHUQL] 38 7RWDO D SUD]R 5 7DPSR GH YLGUR OLVR

$12 5

WLD *DUDQ 75$

(;

$ 9LVWD 5 $VVHQWR DFROFKRDGR [ [ 5 VHP MXURV 0DWHULDO 0') 2X [ [ 5 7DPSR YLGUR WHPSHUDGR 7RWDO D SUD]R 5 )RUPDWR GR WDPSR UHGRQGR

FP

FP

6DOD 3 6RPRSDU *DUDQWLD GR IDEULFDQWH DQR %HOL]H 7 &0 05 $VVHQWR DFROFKRDGR &RU GR DVVHQWR &RPSRVH 0DUURP 0DWHULDO 0') WXER $ 9LVWD 5 [ [ 5 VHP MXURV [ $FDEDPHQWR FURPDGR 2X [ [ 5 7DPSR WLSR YLGUR WHPSHUDGR 7RWDO D SUD]R 5 )RUPDWR GR WDPSR TXDGUDGR

3(d$6

$ YHQGD GD *DUDQWLD ([WUD %HPRO p H[FOXVLYD SDUD SHVVRD ItVLFD

3(d$6

$*25$ 92&È 32'( $*(1'$5 $ 68$ (175(*$ 3$5$ ',$ ( +25É5,2 '( 68$ &219(1,È1&,$ $6 7$;$6 9$5,$0 '( $ 5($,6


)RWRV PHUDPHQWH LOXVWUDWLYDV

& HOXODUHV

&2035$ 3527(*,'$

5

&+,36 /,95(

/,95(

/,95( $12 5

&2035$ 3527(*,'$

WLD *DUDQ 75$

(;

$126 5

$12 5

5 $12 5

6KDUS 7RXFK 79 6( '79 90 $$7

$ 9LVWD 5 [ [ 5 VHP MXURV 2)(57$6 9É/,'$6 $3(1$6 3$5$ $6 /2-$6 '( 0$1$86 9$/,'$'( $ 28 $17(6 2&255(1'2 2 7e50,12 '2 (67248(

*DU 75$

(;

$126 5

&2035$ 3527(*,'$

0RWRUROD ;7 6SLFH 37 $$7

&kPHUD 0S[ %OXHWRRWK 03 SOD\HU 5iGLR )0 )RQH RXYLGR FDER 86%

$ YHQGD GD *DUDQWLD ([WUD %HPRO p H[FOXVLYD SDUD SHVVRD ItVLFD

DQWLD

5

$ 9LVWD 5 [ [ 5 VHP MXURV &kPHUD 0S[

03 SOD\HU 5iGLR )0 %OXHWRRWK :L )L *36 )XQomR PRGHP * 6LVW 2SHU $QGURLG PLQ )RQH RXYLGR &DER 86%

WLD *DUDQ 75$

(;

$126 5

&kPHUD 0S[ 03 SOD\HU 5iGLR )0 %OXHWRRWK )RQH RXYLGR &DER 86%

0RWRUROD (; 'XDO &KLS &= $$7

$ 9LVWD 5 [ [ 5 VHP MXURV

(&2120,$ 72'26 26 352'8726 '(67( (1&$57( (67®2 &20 35(d26 35202&,21$,6 ( 6,1$/,=$'26 1$6 /2-$6 &20 80$ (7,48(7$ $0$5(/$

'(6%/248($'2 3$5$ &/$52 2, ( 7,0

'(6%/248($'2 3$5$ 7,0 2, ( &/$52

5

5 $12 5

$

(;75

$126 5

1RNLD ; 37

03 SOD\HU 5iGLR )0 (QWUDGD SDUD FDUWmR $ 9LVWD 5 DWp *% [ [ 5 VHP MXURV )RQH RXYLGR

*

&2035$ 3527(*,'$

&2035$ 3527(*,'$

WLD *DUDQ

$12 5

1RNLD ; 37

WLD *DUDQ 75$

(;

$126 5

6XSRUWH SDUD GRLV FKLSV 03 SOD\HU H UiGLR )0 $ 9LVWD 5 (QWUDGD SDUD FDUWmR DWp *% [ [ 5 VHP MXURV /DQWHUQD

'(6%/248($'2

1RNLD ; &= 37

WLD *DUDQ 75$

(;

&kPHUD 9*$ 03 SOD\HU 5iGLR )0 %OXHWRRWK $ 9LVWD 5 [ [ 5 VHP MXURV )RQH RXYLGR

$12 5

1RNLD & *)

(;

5

$126 5

$12 5

WLD *DUDQ 75$

(;

$126 5

1RNLD ( %5 35

$ 9LVWD 5 [ [ 5 VHP MXURV &kPHUD 0S[

WLD *DUDQ 75$

(;

$12 5

WLD *DUDQ

$

(;75

$126 5

1RNLD & 37

&kPHUD 9*$ 03 SOD\HU H UiGLR )0 (QWUDGD SDUD FDUWmR DWp *% $ 9LVWD 5 %OXHWRRWK [ [ 5 VHP MXURV )RQH RXYLGR

'(6%/248($'2

'(6%/248($'2

&kPHUD 0S[ %OXHWRRWK :L IL 03 SOD\HU UiGLR )0 $ 9LVWD 5 [ [ 5 VHP MXURV )RQH RXYLGR

*DU 75$

5

$126 5

DQWLD

&kPHUD 0S[ 03 3OD\HU 5iGLR )0 $ 9LVWD 5 %OXHWRRWK [ [ 5 VHP MXURV )RQH RXYLGR

&2035$ 3527(*,'$

&2035$ 3527(*,'$

5

1RNLD & 37

&2035$ 3527(*,'$

$12 5

&2035$ 3527(*,'$

$12 5

'(6%/248($'2

5

'(6%/248($'2 3$5$ 7,0 2, ( &/$52

'(6%/248($'2

$126 5

03 SOD\HU 5iGLR )0 %OXHWRRWK :L )L *36 )XQomR PRGHP * 6LVW 2SHU 6\PELDQ 6 )RQH RXYLGR FDER 86%

$12 5

WLD *DUDQ 75$

(;

$126 5

6LVW 2SHU 6\PELDQ 6 WK 03 SOD\HU 5iGLR )0 $ 9LVWD 5 %OXHWRRWK ZL IL [ [ 5 VHP MXURV *36 79 )XQomR PRGHP * &kPHUD 0S[ )RQH RXYLGR FDER 86% 1RNLD & &= 35

&/,(17( %(02/ 5(&(%( 7253('26 62%5( &2035$6 5($/,=$'$6 (175(*$6 /(0%5(7( '( 9(1&,0(172 $*5$'(&,0(172 3(/$6 &2035$6 ( 48,7$d®2 '2 &$51È


2)(57$6 9É/,'$6 $3(1$6 3$5$ $6 /2-$6 '( 0$1$86 9$/,'$'( $ 28 $17(6 2&255(1'2 2 7e50,12 '2 (67248( 1mR MRJXH HVWH HQFDUWH HP YLD S~EOLFD

(035(6$ 5(63216É9(/

621(*$5 e &5,0( 2 FLGDGmR FRQVFLHQWH H[LJH 1RWD )LVFDO QDV VXDV FRPSUDV SRLV VDEH TXH R (VWDGR GHSHQGH GD DUUHFDGDomR SDUD PHOKRUDU D VD~GH D HGXFDomR H D VHJXUDQoD (P D %HPRO IRL SHOR Û DQR FRQVHFXWLYR D HPSUHVD FRPHUFLDO TXH PDLV ,&06 DUUHFDGRX SDUD R (VWDGR GR $PD]RQDV

&(57,),&$d®2 ,62

$WHQGLPHQWR H VHUYLoRV FRP D FHUWL¿ FDomR GH TXDOLGDGH ,62

9$5,('$'( '( 352'8726

0DLV GH PLO LWHQV *DUDQWLD GH TXDOLGDGH H YDULHGDGH GHQWUR GR VHX RUoDPHQWR

%(02/ $0$=21$6 6+233,1* %(02/ $9(1,'$ %(02/ %$55262 %(02/ &$0$38­ %(02/ &,'$'( 129$ %(02/ ('8&$1'26 %(02/ *5$1'( &,5&8/$5 %(02/ ,7$&2$7,$5$ %(02/ 0$1$8$5$ 6+233,1* %(02/ 0$1$&$3858 %(02/ 0$75,= %(02/ 0,//(11,80 %(02/ 3217$ 1(*5$ %(02/ 32572 9(/+2 &(1752 %(02/ 0$75,= %(02/ 32572 9(/+2 6+233,1* %(02/ 5,2 %5$1&2 %(02/ 678',2 %(02/ 72548$72 /2-$ &20

'LVTXH JUiWLV )DOH FRQRVFR H HVFODUHoD VXDV G~YLGDV

ZZZ EHPRO FRP EU

/2-$ &20 &$,;$ (/(75Ñ1,&2 %5$'(6&2

/2-$ &20 *8,&+È '$ &$,;$

/LPLWH PtQLPR SDUD YHQGD D FUpGLWR 5 &DUWmR %HPRO (P FRPSUDV DWp 5 FOLHQWH FRP R &DUWmR %HPRO SRGHUi FRPSUDU VHP HQWUDGD H VHP MXURV H SDUFHODU HP DWp YH]HV SDUD GLDV GHVGH TXH HVWHMD FRP VHX OLPLWH GLVSRQtYHO -XURV 'HVSHVDV 2SHUDomR GH &UpGLWR 3DUD 3DUFHODV ,JXDLV $ 0 $ $ HP DWp [ $ 0 $ $ HP DWp [ $ 0 $ $ HP DWp [ $ 0 $ $ HP DWp [ $ 0 $ $ HP DWp [ $ 0 $ $ HP DWp [ $ 0 $ $ HP DWp [ -XURV GH 0RUD DR PrV D SDUWLU GR GLD 0XOWD GH 0RUD D SDUWLU GR GLD 26 3/$126 '( 3$*$0(172 $35(6(17$'26 (67­2 68-(,726 $ $3529$d­2 '( &5e',72 &21)250( &5,7e5,26 87,/,=$'26 3(/$ %(02/

$ 68$ 0(/+25 (6&2/+$


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