Tapatío del 26 de febrero 2017

Page 1

'6/%"%03&4 +FT·T ~MWBSF[ EFM $BTUJMMP 7 +PSHF ~MWBSF[ EFM $BTUJMMP ; '6/

"-'0/40 30%3¶(6&; "-'0 %&416 %&416/5" $0.0 6/" +07&/ +07&/ 130.&4" 1"3" &- '65630 5 5&$/0-»(*$0 %& +" +"-*4$0 (3"$*"4 "- 5"-&/50 26& -0 --&7» " 4*-*$0/ 7"--&: 1ÈHJOB USFT $035&4¶"

-Õ«iÀÛ Ã À\Ê >À Ê >ÃÌ Ê >À °V>ÃÌ J v À >` À°V ° Ý Õ«iÀÛ Ã À\ >À Ê >ÃÌ Ê >À °V>ÃÌ J v À >` À°V ° Ý

&%*503 %*3&$503 $BSMPT ~MWBSF[ EFM $BTUJMMP (

"º0 $ /Á.&30

?Q=@ANJK @A HA?PQN=

(6"%"-"+"3" +"- %0.*/(0 %& '&#3&30 %& &- */'03."%03 t ( ("--0

3FMFDUVSBT %&- "35&

&M BSUJTUB KBMJTDJFOTF &OSJRVF )FSO OEF[ QBSUJDJQB FO "3$0NBESJE DPO VOB TFSJF EF QJF[BT FO MBT RVF DPOWFSHF VOB SFDPOTUSVDDJªO Z EFTDPOUFYUVBMJ[BDJªO EF EJWFSTBT JN HFOFT 1PS +PSHF 1¹SF[

-

B FEJDJÂO EF "3$0 NBESJE MB GFSJB EF BSUF DPOUFNQPS²OFP TF JOBV HVSÂ FM QBTBEP EF GFCSF SP FO MB DBQJUBM FTQBÁPMB &OUSF MPT BSUJTUBT DPO PCSB FO TVT FYQPTJDJPOFT FTU² FM BSUJTUB KBMJTDJFOTF &OSJRVF )FSO²OEF[ SFQSFTFOUBEP QPS MB HBMFS½B 5JSP BM #MBO DP RVJFO UBNCJ¹O MMFWB B +VBO -ÂQF[ &M BSUJTUB OPT SFDJCJÂ FO TV FTUVEJP QBSB IB CMBS EF MBT QJF[BT RVF TF MMFWBSPO B "3$0NBESJE Z TVT QSPDFTPT EF DSFBDJÂO &OUSF MBT QBSUJDVMB SJEBEFT EF TV FTQBDJP EF USBCBKP SFTBMUB BMUFSOBS FOUSF EPT IBCJUBDJPOFT UFÂSJDB Z QS²DUJDB VOB EPOEF DPNJFO[BO MPT QSPZFDUPT DPO VO QBS EF NFTBT EF USBCBKP FO EPOEF DPOWJWFO MJCSPT EF SF GFSFODJB DVBEFSOPT EF CPDFUPT M²QJDFT Z QJODF MFT DPNQVUBEPSB F JNQSFTPSB &M PUSP FTQBDJP FT EPOEF TF DPODSFUBO MBT QJOUVSBT 4V JODMVTJÂO FO MB GFSJB EF BSUF DPOUFNQPS²OFP GVF HSBDJBT B MB HBMFS½B i-PT JOWJUBSPO QPS VO QSP HSBNB DVSBUPSJBM EF HBMFS½BT 4PO HBMFS½BT KÂWFOFT DPO NFOPT EF TJFUF BÁPT FTUBCMFDJEBTw %F MB TFMFDDJÂO EF QJF[BT BHSFHÂ i&T VO QSP ZFDUP NVZ SFDJFOUF 1SFUFOE½B USBCBKBSMP EF BRV½ B GJOBMFT EFM BÁP UJFOF DPNP CBTF MB &ODJDMPQFEJB 4BMWBU 1PS MP SFHVMBS NJ USBCBKP TF CBTB DPO BSDIJ WPT P EPDVNFOUPT RVF ZB FYJTUFO JN²HFOFT UPNB EBT EF EJGFSFOUFT MVHBSFT &T VO QPDP EFTDPOUFY UVBMJ[BSMBT EFTBSNBSMBT &O FTUF DBTP FNQFD¹ B IBDFS VOB FTQFDJF EF DFOTVSB DMBVTVSBT QBSDJBMFT EF MB JNBHFO Z MPT UFYUPT &NQF[Â B UFOFS PUSP DB S²DUFS MB Q²HJOBTw " QBSUJS EF MB JOUFSWFODJÂO EF MBT IPKBT TVSHJÂ UBNCJ¹O MB SFBMJ[BDJÂO EF VOB TFSJF EF QJOUVSBT i'VF DPNP VO FYQFSJNFOUP MMFWBSMBT B FTPT UBNBÁPTw &O "3$0NBESJE TF BQSFDJB VOB TF MFDDJÂO EF OVFWF GSBHNFOUPT EF MB FODJDMPQFEJB Z USFT QJOUVSBT " QSPQÂTJUP EF USBCBKBS DPO JN²HFOFT FYJTUFO UFT &OSJRVF DPNFOUÂ i&T BMUFSOBS FTB JNBHFO EF FTF NFEJP QSFWJP B JOUFSOFU &O .¹YJDP FTUVWP NVZ QSFTFOUF FO MPT TFUFOUB &T BMHP RVF TJFNQSF IBC½B UFOJEP BMM½ EF IFDIP UFOHP EPT KVFHPT &O MBT MJCSF S½BT EF WJFKP MBT FODPOUSBNPTy &M QSPZFDUP FN QF[Â DBTJ DJSDVOTUBODJBM Z GVF DSFDJFOEPw %F BMHVOB NBOFSB SFUPNBS VOB FEJDJÂO JN QSFTB EF MB FODJDMPQFEJB FO VOB ¹QPDB FO EPOEF

ZB TÂMP TF DPOTVMUB FO XFC SFDVFSEB BM 1JFSSF .F OBSE EF +PSHF -VJT #PSHFT RVJFO SFUPNB FM 2VJ KPUF FO PUSP TJHMP IBDJFOEP VO MJCSP EJGFSFOUF BVORVF DPOUFOHB MBT NJTNBT QBMBCSBT &O VOB NFTB EF USBCBKP FO TV UBMMFS &OSJRVF )FSO²OEF[ UJFOF QSFDJTBNFOUF VO MJCSP EF #PSHFT i&T DV SJPTP UFOHP PUSP QSPZFDUP RVF WJFOF VO QPDP EF #PSHFT DPO A)JTUPSJB EF MB FUFSOJEBE .F HVTUB DPMFDDJPOBS GSBTFT RVF IBCMFO EF MB JNBHFO FT BMHP RVF DPOTUBOUFNFOUF MFP "VORVF OP UFOHBO RVF WFS DPO UFPS½B EF MB JNBHFO Z UFPS½B EFM BSUF QFSP RVF IBCMFO EF DÂNP WFNPT 1PS FKFNQMP A*NBHJOB VOPT FDPT WJFOF FO VO MJCSP EF %PO %F -JMMP "NFSJDBOB 0 &M QB½T EF MBT ÈMUJNBT DPTBT EF 1BVM "VTUFS DPO VOB DIBWB RVF WJTJUB VO QB½T FO SVJOBT EFTUSP[BEP DPNP FMMB MP EFTDSJCF IB DF BMVTJPOFT B MP RVF FMMB WF B DÂNP WF FTBT DP TBT -BT GSBTFT MBT EFTDPOUFYUVBMJ[Pw %FM BSHFO UJOP DPNFOUÂ VO NVSBM FO GPSNBUP EF US½QUJDP DPO USFT Q²HJOBT EF #PSHFT iDBODFMP UPEP FM UFY UP Z ÈOJDBNFOUF EFKP BCJFSUP B MB WJTUB MBT JEFBT TPCSF MB JNBHFO &T KVHBS DPO FTB DVFTUJÂO DPO MB JNBHFO QFSP EPOEF OP IBZ OBEB RVF WFS &T VO UFNB EF EJBM¹DUJDB DPO FM FTQFDUBEPS TF IB CMB EF JN²HFOFT QFSP WFNPT VOBT QMBTUBT OFHSBT A-B JNBHFO FT VOB FUFSOJEBE A&O VOB TPMB JNB HFO A*NBHFO EF JN²HFOFT w "VORVF TV USBCBKP TF DFOUSB FO MB QJOUVSB FM BSUJTUB UBNCJ¹O IB USBUBEP EF MMFWBS TVT JOUFSWFO DJPOFT B PUSBT MBUJUVEFT iNFOPT QJDUÂSJDBT Z N²T UBOHJCMFT FO DVFTUJÂO EF PCKFUPTw $PO FM NJTNP JOGMVKP EF MPT MJCSPT DPNP DPO i'BISFOIFJU w EF 3BZ #SBECVSZ Z i&OTBZP TPCSF MB DFHVFSBw EF +PT¹ 4BSBNBHP BNCPT QSPZFDUPT QSFTFOUBEPT FO FM .VTFP EF "SUF EF ;BQPQBO QBSB FM MJCSP EF i'BISFOIFJU w VOB EJTUPQ½B FO EPOEF MPT CPN CFSPT UJFOFO DPNP USBCBKP DPUJEJBOP MB RVFNB EF MJCSPT FM BSUJTUB MF QSFOEJÂ GVFHP BM MJCSP DPOWJS UJ¹OEPMP FO VO QFSTPOBKF Z DSFBOEP VO BSUF PCKF UP $PO MB OPWFMB EF 4BSBNBHP EPOEF PDVSSF VOB QBOEFNJB EF DFHVFSB CMBODB &OSJRVF QJOUÂ MBT EF VO FKFNQMBS EF CMBODP QBSB MVFHP EFTIPKBSMP Z NPOUBSMBT FO VO NVSBM %F FMMPT DPNFOUÂ i&T VO FKFSDJDJP UBVUPMÂHJDP EF DPOUBS MB IJTUPSJB FO FM NJTNP PCKFUP RVF PCWJP QJFSEF TV QFSUJOFODJBy 1MBOUF¹ MBT EPT QJF[BT QFOTBOEP FO FM $VBESBEP OFHSP TPCSF GPOEP CMBODP Z #MBODP TPCSF CMBODP EF .BM¹WJDI VOPT DVBESPT RVF TJFNQSF NF IBO HVTUBEP NVDIPy 1BSB N½ .BM¹WJDI IBC½B MMFHB EP B FTB UBVUPMPH½B EF MB NJTNB QJOUVSB BM OP QSF TFOUBS OBEB N²T RVF MB NJTNB QJOUVSB DPO GPS

#

4&$$* /

$035&4¶"

*/45"-"$*»/ 4V JODMVTJØO

FO "3$0NBESJE GVF HSBDJB

T B 5JSP BM #MBODP HBMFSÓB R VF MP SFQSFTFOUB

NBT NVZ C²TJDBT &T IBCMBS EF QJOUVSB DPO MB NJTNB QJOUVSB NVDIP BOUFT EF +BDLTPO 1PMMPDL UBNCJ¹O DPO MB FTQJSJUVBMJEBE 1FSP FO FM TPMP BD UP EF MB QJOUVSB FT FTB JEFB 'VF TBDBS FTB NBOF SB EF QFOTBS DPO VO QMBOUFBNJFOUP QBSB MMFWBSMP B PCKFUPT DPNP MPT MJCSPTw

%FTEF PUSP OHVMP " QSPQÂTJUP EF FTB BDDJÂO EF SFUPNBS PUSBT PCSBT QBSB USBCBKBSMBT BSU½TUJDBNFOUF EFTEF PUSP QVOUP EF WJTUB &OSJRVF BHSFHÂ i3FHVMBSNFOUF USBCBKP DPO FM QBMJNQTFTUP FODJNBS DBNCJBS MB DVFTUJÂO OBSSBUJWB -P IJDF UBNCJ¹O DPO JN²HFOFT EF MB IJTUPSJB NPEFSOB EF MB BSRVJUFDUVSB DPNP -F $PSCVTJFSw %FM BSRVJUFDUP GSBOD¹T )FSO²OEF[ UJF OF FO TV UBMMFS WBSJBT PCSBT EF HSBO GPSNBUP FO EPO EF TF PCTFSWBO GPUPHSBG½BT JOUFSWFOJEBT i'VF QMBO UFBS MBT SVJOBT TPCSF MB BSRVJUFDUVSBy &T EBSMF VOB MFDUVSB EJGFSFOUF B MB JNBHFO BSRVJUFDUÂOJDB 5PEBT TPO MB 6OJEBE .BSTFMMB &T VOB SFMFDUVSB EF BMHV OB NBOFSB FT QMBOUFBSMF VO QSPCMFNB FODJNB B FTF ½DPOP 4F SFQMBOUFB MB JNBHFO B QBSUJS EF VOB FT QFDJF EF BCTUSBDDJÂO "VORVF OP FT UPUBMNFOUF BCTUSBDDJÂO QPSRVF T½ UJFOF SFGFSFODJB NVZ EJSFD UB DPO BMHP G½TJDPw 4PCSF MB JDÂOJDB VOJEBE IBCJUBDJPOBM TF PC TFSWBO JN²HFOFT EF EFSSVNCFT FTDPNCSPT Z EF

NPMJDJPOFT %F MB QSPQJB iEFDPOTUSVDDJÂOw )FS O²OEF[ UJFOF VOB PCSB BVEJPWJTVBM RVF SFUSBUB MB EFNPMJDJÂO EF VO FEJGJDJP FM WJEFP TF QSFTFOUB QJ YFMFBEP iQFSEJÂ MB DMBSJEBE EF MB JNBHFOw 4PO DJODP NJOVUPT DPO TVCU½UVMPT EF GSBTFT EF 1BVM "VTUFS i&SB KVHBS DPO MBT JN²HFOFT SFQMBOUFBS RV¹ FTU² WJFOEP DVBOEP OP TF WF OBEBy 1BSUF EF MB DBSHB RVF UJFOF FT DVFTUJPOBS VO QPDP RV¹ FT MP RVF OPT EFUFOFNPT B WFS Z RV¹ OP WFNPT B QBS UJS EF MB FDPOPN½B EF MB JNBHFO BDUVBM &T VO NVO EP EF JN²HFOFT QFSP WFNPT QBSDJBMNFOUF &T WPMWFS B SFUPNBS MB JEFBw &O WBSJBT EF MBT PCSBT EF )FSO²OEF[ DSPN² UJDBNFOUF QSFEPNJOB FM OFHSP BVORVF T½ IBZ QSF TFODJB EF PUSPT DPMPSFT &M EFUBMMF BQVOUÂ FM BSUJT UB FT SFMBUJWBNFOUF SFDJFOUF i)BDF EPT BÁPT DPNFOD¹ B USBCBKBS DPO FM OFHSP DPO UJOUB DIJOB NF HVTUÂ NVDIP FTB GVFS[B RVF IBZ FO FTB TJNQMF [B EFM OFHSP Z FM CMBODP .F QBSFDF RVF TPO MPT OP DPMPSFT ÂQUJDBNFOUF FTP JNQMJDB FO MB DPNQVUBEP SB Z FO JNQSFTJÂO &T JOUFSFTBOUF FNVMBS SFDPOT USVJS B QBSUJS EF FTPw -B GPSNBDJÂO EF &OSJRVF )FSO²OEF[ JODMVZF MB GPUPHSBG½B Z DVSTPT TPCSF BSUF DPOUFNQPS²OFP )B FYQVFTUP FO FM .VTFP 5BMMFS +PT¹ $MFNFOUF 0SP[DP &Y $POWFOUP EFM $BSNFO $BTB 7BMMBSUB $FOUSP $VMUVSBM &M 3FGVHJP .63" FOUSF PUSPT


1~(*/" #

&- */'03."%03 &- */'03."%03

%PNJOHP EF GFCSFSP EF

1&3'*- %&+" 6/ (3"/ -&("%0 $035&4¶"

$035&4¶"

1&/4"3 " (3"/ &4$"-" 4BMWBEPS EF "OEB %FMHBEJMMP FO MB GPUP BENJOJTUSØ TV FNQSFTB B UBM HSBEP EF RVF TF DPOWJSUJØ FO VOB NVMUJQMJDBEPSB EF FNQSFO EFEPSFT -P IJ[P KVOUP DPO TV IFSNBOP Z TPDJP QPS NVDIPT B×PT %PO 3BNØO EF "OEB

130104*5*70 &M USBCBKP FO FRVJQP GVF BMHP RVF MP EJTUJOHVJØ BTÓ MP SFDPOPDFO RVJFOFT MBCPSBSPO DPO ÏM B MP MBSHP EF TV WJEB DPNP FNQSFTBSJP Z QPMÓUJDP

4BMWBEPS EF "OEB QSFDVSTPS EF MB BWJDVMUVSB OBDJPOBM Z GPSKBEPS EF JOTUJUVDJPOFT

&41&$*"-

3&$0/0$*.*&/50 &O FM (PCJFSOP 'FEFSBM FOUSFHØ FM 1SFNJP BM .ÏSJUP "WÓ DPMB B 4BMWBEPS EF "OEB FO NBOPT EFM UJUVMBS EF MB 4"("31" +PTÏ $BM[BEB 3PWJSPTB $035&4¶"

1JPOFSP FO MB QSPEVDDJØO JOUFOTJWB EF IVFWP FO .ÏYJDP GVODJPOBSJP QÞCMJDP DPNQSPNFUJEP QSPNPUPS EF HSVQPT FNQSFTBSJBMFT Z GJMÈOUSPQP OBUP

6

O IPNCSF RVF WJW½B QBSB DSFBS VO FNQSFTBSJP RVF RVF OP RVFS½BO FTUBS FO FM DPOTFKP QPSRVF A%PO 4BMWB SFHSFTBCB DSF½B FO DPNQBSUJS VO GPSKBEPS EF JOTUJUVDJPOFT Z VO TV TVFMEP Z FTP QSPWPDBCB RVF FMMPT UVWJFSBO RVF IBDFS MP NJTNPw GVODJPOBSJP QÈCMJDP RVF USBCBKÂ QBSB TFSWJS BT½ GVF JOEJDÂ $¹TBS &OUFOE½B FM IPOPS EF TFS Z EF SFQSFTFOUBS TJO JNQPSUBS MB SF 4BMWBEPS EF "OEB %FMHBEJMMP DPOTJEFSBEP VOP EF MPT GVOEBEPSFT EF MB BWJDVMUVSB NPEFSOB FO .¹YJDP NVOFSBDJÂO FDPOÂNJDB $PNQBSUJÂ MP RVF UFO½B IBTUB FM ÈMUJNP RVJFO TJHVJÂ BDUJWP FO TV UBSFB FNQSFTBSJBM IBTUB FM ÈMUJNP E½B EF E½B BQPZBOEP B QFSTPOBT F JOTUJUVDJPOFT DVNQMJFOEP BRVFMMP EF TVT BÁPT 0SJHJOBSJP EF 5FQBUJUM²O +BMJTDP i%PO 4BMWBw UFO½B RVF iOP TFQB UV NBOP EFSFDIB MP RVF IBDF MB NBOP J[RVJFSEBw /J VO FOUSBÁBCMF BNPS B .¹YJDP QPS FTP UPEP MP FNQSFOE½B QFOTBO TVT IJKPT TJRVJFSB TBC½BO UPEP MP RVF %PO 4BMWBEPS BZVEBCB B TVT EP FO DÂNP EFKBS BMHP QBSB TV UJFSSB TV SFHJÂO TV QVFCMP i&TF BNJHPT P MBT PCSBT TPDJBMFT RVF NFSFD½BO N²T TV BUFODJÂO DJWJTNP Z BNPS QPS TV QBUSJB MP NPUJWÂ TJFNQSF &O FTUPT UJFNQPT FTU² SFTVSHJFOEP Z UPNBOEP GVFS[B VO TFOUJNJFOUP EF NFYJDBOJ 'PSKBEPS EF *OTUJUVDJPOFT QBSB FM CJFOFTUBS EBE RVF OPT EFCF QSPWPDBS FM DSFFS RVF T½ QPEFNPT IBDFS HSBO i%PO 4BMWBw DPOTPMJEÂ FM HSVQP QBSB GPSNBS MB "TPDJBDJÂO EF EFT DPTBTw DPOTJEFSÂ $¹TBS EF "OEB $IBSSPT EF 5FQBUJUM²O BDPNQBÁBEP EF BNJHPT DPNP -FPQPMEP 'SBO *OOPWBEPS FO MBT JOTUBMBDJPOFT EF QSPEVDDJÂO BW½DPMB " GJOB DP 'JMPNFOP "MGPOTP Z 4BMWBEPS (PO[²MF[ FOUSF PUSPT "QBSFOUF MFT EF MPT BÁPT USFJOUB 4BMWBEPS EF "OEB %FMHBEJMMP DP NFOUF FSB BMHP TVQFSGJDJBM QFSP OP FSB BT½ ZB RVF IBC½B NFO[Â B DSJBS HBMMJOBT BTPDJBEP DPO TV IFSNBOP 3BNÂO RVF NBOUFOFS PDVQBEPT B MPT KÂWFOFT QBSB RVF OP BOEV Ê QFSP B MB QBS EF FTPT JOJDJPT TVT BWFT TF FOGFSNBCBO Z WJFSBO FO FM DPOTVNP EFTPSEFOBEP EF BMDPIPM P IBDJFOEP MPT KÂWFOFT FNQSFOEFEPSFT QBTBCBO EF VOB DSJTJT B MB Ê«>«?Ê GFDIPS½BT PUSB i&TP TVDFE½B QPSRVF MBT BWFT FTUBCBO FO FM QJTP FY &O FTF QMBO EFQPSUJWP UBNCJ¹O MFT EJFSPO VO SPM JN iÀ>ÊÕ Ê LÀiÊ QVFTUBT B NBZPS DPOUBNJOBDJÂO FOUPODFT QFOTBSPO QP QPSUBOUF B MBT NVKFSFT BM QBSUJDJQBS FO MBT FTDBSBNV[BT OFSMBT FO QFSDIBT DPO CFCFEFSPT EF BHVB QPUBCMF Z DP Ãi V ÊÞÊ>}À>`>L i]Ê DIBSSBT i&M FOGPRVF FSB BUSBFS B MPT KÂWFOFT IPNCSFT NFEFSPT EPOEF FM BMJNFOUP OP TF EFTQFSEJDJBSBw µÕiÊ>«À ÛiV ÊÃÕÃÊ Z NVKFSFT QBSB BENJOJTUSBS NFKPS TV UJFNQP BEFN²T EF SFDPSEÂ Ê> ÃÊ«>À>ÊVÕ Ì Û>ÀÊ EJWFSUJSTF )BDFNPT WPMBS MB JNBHJOBDJÂO Z MB FTUBNQB $POUÂ RVF BM WJTJUBS VOB HSBOKB RVF BENJOJTUSBCBO MPT > } ÃÊÞÊV ViÀÊ RVF WJFOF B MB NFOUF FT DPNP VOB QFM½DVMB EF 1FESP *O IFSNBOPT KFTVJUBT EPOEF MBT BWFT TF BMPKBCBO FO VOB FT GBOUF FTF FSB FM 5FQB EF MPT BÁPT DVBSFOUB Z EF MPT DJO ?ÃÊ`iÊ >ÊÛ `> DVFOUBw TFÁBMÂ $¹TBS QFDJF EF DSVK½BT EF NBEFSB JEFBSPO DÂNP GBCSJDBS KBVMBT EF BMBNCSÂO %F UBM NBOFSB BM DBCP EF WBSJPT BÁPT FMMPT %FTQV¹T EF GVOEBS MB $SV[ 3PKB BDPNQBÁBEP QPS NJTNPT GBCSJDBCBO TVT JOTUBMBDJPOFT QBSB TFHVJS DSFDJFO 3BNÂO $BTJMMBT /BWBSSP FOUSF NVDIPT PUSPT B USBW¹T EP FO FM OÈNFSP EF BWFT FO TVT HSBOKBT %F BI½ OBDJÂ MB JO jÃ>ÀÊ`iÊ `> EFM DMVC EF -PT 3PUBSJPT EPOBSPO MB QSJNFSB BNCVMBO RVJFUVE EF GPSNBS VOB OVFWB FNQSFTB GBCSJDBOUF EF JNQMF DJB 4BMWBEPS EF "OEB QBSUJDJQÂ FO UPEP EFTEF WPMVOUB NFOUPT BW½DPMBT B HSBO FTDBMB QBSB WFOEFS SFHJPOBM Z OBDJPOBMNFOUF SJP IBTUB TPDPSSJTUB $VFOUBO RVF MF UPDÂ EBS FM QSJNFS TFSWJDJP EF %PO 3BNÂO EF "OEB TV IFSNBOP Z TPDJP QPS NVDIPT BÁPT BENJOJT BUFODJÂO B VO BDDJEFOUF ¹M Z VOP EF TVT BNJHPT SFDPHJFSPO BM FO USÂ MB FNQSFTB QBSB DPOWFSUJSMB FO VOB NVMUJQMJDBEPSB EF FNQSFOEF GFSNP MP MMFWBSPO B (VBEBMBKBSB QFSP MBNFOUBCMFNFOUF NVSJÂ EPSFT DPOTUJUVZ¹OEPTF DPNP VO GBDUPS DMBWF EFM DSFDJNJFOUP EF MB BWJDVMUVSB JOEVTUSJBM EF OVFTUSP QB½T $SFDFS FO HSVQP BOUFT RVF FM JOEJWJEVBMJTNP $VBOEP NFOPT MB NJUBE EF MBT FNQSFTBT BW½DPMBT EF .¹YJDP $¹TBS EF "OEB EJKP RVF DPNP MB NBZPS QBSUF EF MBT QFSTPOBT DVFOUBO DPO BMHÈO FRVJQP GBCSJDBEP FO MBT JOTUBMBDJPOFT EF (SVQP RVF FNQSFOEFO VO OFHPDJP TV QBESF UVWP RVF MJEJBS DPO WBJWFOFT *OEVTUSJBM EF "OEB BIPSB MJEFSBEP QPS MPT IJKPT EF %PO 3BNÂO NJT EF MPT QSFDJPT JOGMBDJÂO EFWBMVBDJPOFT JOTFHVSJEBE QFSP DPOTJ NPT RVF MP IBO MMFWBEP JODMVTP B FYQPSUBS FTPT FRVJQPT BM SFTUP EF EFSÂ RVF FM QSJODJQBM PCTU²DVMP RVF FOGSFOUÂ GVF FM RVF TV QSP "N¹SJDB -BUJOB QVFTUB EF USBCBKP FO FRVJQP MMFHÂ B TFS JODPNQSFOEJEB i M QSP %PO 4BMWBEPS EFEJDÂ QBSUF EF TV WJEB B JNQVMTBS MB GPSNBDJÂO QPO½B FM NPEFMP EF MBT DPPQFSBUJWBT FVSPQFBT P BMHVOBT EF HSVQPT FNQSFTBSJBMFT EFTEF MPT BÁPT TFTFOUB Z IBTUB MPT OP OPSUFBNFSJDBOBT EPOEF DPNQBSU½BO FM USBCBKP Z MBT VUJMJEBEFT WFOUB GVF GBDUPS GVOEBNFOUBM QBSB MB DPOTUJUVDJÂO EF FNQSFTBT 7F½B VOB FNQSFTB EPOEF QVTJFSBO UPEPT Z TF MMFWBSB DBEB RVJFO EF QSPWFFEVS½B BM TFDUPS DPNP QMBOUBT EF BMJNFOUPT CBMBODFBEPT TV QBSUF QFSP RVF DSFDJFSBO KVOUPT FO HSVQP FTF DPODFQUP OP GVF MBCPSBUPSJPT EF EJBHOÂTUJDP G²CSJDBT EF QSFNF[DMBT WJUBN½OJDBT FOUFOEJEP "VORVF FTP NJ QBESF OP MP IVCJFSB EJDIP TPNPT JOEJ BT½ DPNP DPPQFSBUJWBT EF DPNFSDJBMJ[BDJÂO WJEVBMJTUBT ZP TPZ UBO BMUFÁP DPNP ¹M Z OP TF OPT EB NVZ G²DJM FM USBCBKP FO FRVJQP &TP FT BMHP RVF MPT NFYJDBOPT EFCFNPT TVQF SBS 4J TF USBCBKBS² N²T FO HSVQP ZP DSFP RVF MB [POB EF -PT "MUPT 4FSWJS BM QVFCMP QPS IPOPS 4BMWBEPS EF "OEB TF DPOWJSUJÂ FO FO BMDBMEF EF 5FQBUJUM²O QPES½B FTUBS BÈO NFKPSw FYQSFTÂ $¹TBS .BVSJDJP PUSP EF TVT IJKPT SFDBMDÂ RVF JODMVTP %PO 4BMWBEPS Z B QFTBS EF RVF UFO½B TV FNQSFTB TF EFEJDÂ FO DVFSQP Z BMNB B DPOT TF TFOU½B NVZ DPOUFOUP QPS FM ¹YJUP EF TVT DPMFHBT N²T RVF QPS USVJS JOGSBFTUSVDUVSB QBSB FM QVFCMP SFDPSEÂ TV IJKP $¹TBS 1SPNPWJÂ MB QBWJNFOUBDJÂO EF DBMMFT QPS QSJNFSB WF[ FO FTB FM QSPQJP QPSRVF TFOU½B RVF ¹M IBC½B QVFTUP VO HSBOJUP EF BSFOB DJVEBE /VFWPT TJTUFNBT EF ESFOBKF BMVNCSBEP Z BHVB QPUBCMF Z i: NVZ TBUJTGFDIP EF MP RVF IBC½BNPT IFDIP TVT IJKPT JOEVTUSJB BMDBOUBSJMMBEP GVFSPO DPOTUSVJEPT %FTQV¹T EF GVOEÂ FM $PO MJ[BS FM IVFWP MMFWBSMP B NFSDBEPT UBO FYJHFOUFT DPNP &VSPQB Z TFKP EF $PMBCPSBDJÂO .VOJDJQBM FO FM DVBM MPT WFDJOPT FM "ZVOUB +BQÂO Z RVF DPOUJOV²CBNPT EFTQV¹T EF BÁPT FYQPSUBOEP FM NJFOUP Z FO BMHVOBT PDBTJPOFT FM HPCJFSOP FTUBUBM TF SFQBSU½BO MB IVFWP EF 5FQB EF 4BO +VBO EF MPT -BHPT B UBMFT EFTUJOPT &TUBCB JOWFSTJÂO QBSB IBDFS PCSB QÈCMJDB &M NPEFMP GVF UPNBEP EF MB JOJ NVZ PSHVMMPTP EF DÂNP TF IBC½B DSFDJEP FO .¹YJDP IBTUB UFOFS N²T EF NJMMPOFT EF HBMMJOBT FO QSPEVDDJÂO TFOU½B RVF IBC½B DJBUJWB EFM $POTFKP EF $PMBCPSBDJÂO .VOJDJQBM EF (VBEBMBKBSB 4FS GVODJPOBSJP QÈCMJDP FO FTF FOUPODFT T½ FSB WFSEBEFSB QVFTUP TV HSBOJUP EF BSFOB QBSB UFOFS VOB BWJDVMUVSB DPNQFUJUJWB NFOUF IPOPS½GJDP i&M TVFMEP RVF SFDJC½B DPNP QSFTJEFOUF NVOJ B OJWFM NVOEJBMw DJQBM DPOUJOVBNFOUF MP SFHSFTBCB QPSRVF OP IBC½B SFDVSTPT FO UF TPSFS½B B WFDFT OJ QBSB QBHBS B MPT QPMJD½BT :B FO MBT UBSFBT EFM " TFHVJS DPO TV MFHBEP $POTFKP EF $PMBCPSBDJÂO TVT DPNQBÁFSPT FOUSF CSPNBT EFD½BO %JDFO RVF FM FKFNQMP EF MPT QBESFT WBMF N²T RVF MBT QBMBCSBT

".03 103 .²9*$0 i%PO 4BMWBw TJFNQSF QFOTØ FO DØNP EFKBS BMHP QPTJUJWP QB SB TV UJFSSB

$30/0-0(¶" -P NÈT EFTUBDBEP YYYZÊ Ê£ ÎxÊV i â>Ê>ÊVÀ >ÀÊ}> >ÃÊ Õ Ì ÊV ÊÃÕÊ iÀ > Ê,> Ê YYYZÊ Ê£ {ÎÊ V >ÊÕ >Êv?LÀ V>Ê`iÊ Ã> V ÃÊ YYYZÊ Ê£ ÈäÊV ÌÀ LÕÞiÊ>Êv À >ÀÊ >Ê Ã V >V Ê`iÊ Û VÕ Ì ÀiÃÊ`iÊ/i«> Ì Ì ? ]ʵÕiÊ«Àià ` Ê« ÀÊ£äÊ> ÃÊ YYYZÊ iÊ£ ÈxÊ>Ê£ ÈÇÊvÕiÊ«Àià `i ÌiÊ Õ V «> Ê`iÊ/i«>Ì Ì ? Ê

YYYZÊ iëÕjÃÊ`iÊÃÕÊ}iÃÌ Êv À >Êi Ê

Ãi Ê`iÊ >L À>V Ê Õ V «> Ê `iÊ/i«>Ì Ì ? Ê YYYZÊ ÊÓä£xÊÀiV LiÊi Ê«Ài Ê> Ê jÀ Ì Ê Û V >ÊÞÊÃiÊ iÊ LÀ>Êi Ê>Û VÕ Ì ÀÊ iÝ V> Ê ?ÃÊ }iÛ Êi Ê>VÌ Û ]Ê Ê Ã Ê`iÊ jÝ V Êà Ê`iÊÌ `>Ê jÀ V>Ê >Ì >]ÊÞÊV ÊÌ `>ÊÃi}ÕÀ `>`Ê`iÊ Õ V >ÃÊ ÌÀ>ÃÊ«>ÀÌiÃÊ`i Ê Õ ` °

QFSP QBSB (BCSJFMB TV ÈOJDB IJKB NVKFS TV QSPHFOJUPS FSB VO FY USBPSEJOBSJP DPOTFKFSP -B TVHFSFODJB RVF N²T BUFTPSB FT FM USB UBS JHVBM B UPEP FM NVOEP i M QMBUJDBCB DPO MB NJTNB BDUJUVE F JO UFS¹T DPO FM USBCBKBEPS RVF EB EF DPNFS B MBT BWFT Z BUJFOEF FM HBOBEP RVF DPO FM GVODJPOBSJP EF N²T BMUP SBOHPw %F TV GPSNB EF TFS TVCSBZÂ RVF TBC½B QPOFS MBT DPTBT FO QFST QFDUJWB Z FSB VO HSBO DPOWFSTBEPS i-F QSFHVOUBCBO DÂNP MF IB IFDIP QBSB MMFHBS B MPT BÁPT Z EFD½B AOP MF QPOHP DPOUSB B NJ NVKFS 5SBUBCB EF WFS MP CVFOP QPS FTP MF QSFHVOUBCBO DÂNP MF JCB Z SFTQPOE½B AB UPEP EBS Z EBCB VOB FYQMJDBDJÂO DS½UJDB QFSP SFTBMUBCB MP CVFOPw $¹TBS SFNFNPSÂ RVF B TVT BÁPT TV QBESF TFHV½B BM QFO EJFOUF EFM OFHPDJP QSFHVOUBOEP DÂNP JCBO MBT DPTBT TBMJFOEP DPO TV NVKFS B QBTFBS Z EJTGSVUBOEP TV QBTJÂO EF WFS QFM½DVMBT DPO FMMB i'VF VO KBMJTDJFOTF NVZ DPNQMFUP VO NFYJDBOP RVF EFKÂ IVF MMB RVF BQPSUÂ JEFBT Z USBCBKP B TV QVFCMP BT½ DPNP BNJTUBE DPO BUFODJÂO B TV HFOUF -P SFDPSEBNPT DPO UPEP OVFTUSP DBSJÁP EP MJÂ RVF TF IBZB JEP QFSP OPT EFKÂ VOB GVODJÂO RVF DVNQMJS NVZ EJG½DJM QFSP MF IBSFNPT MB MVDIBw


%PNJOHP EF GFCSFSP EF

1~(*/" #

&- */'03."%03

&- 1&340/"+&

&45"4 36*/"4

"-'0/40 30%3¶(6&; &456%*"/5&

"/50/*0 0356º0 $035&4¶"

-B DPSUF EF MPT -PSFT

$

" '65630 5SBT DPODMVJS TV FYQFSJFODJB FO 4JMJDPO 7BMMFZ FM FTUVEJBOUF EF MB 61 WPMWFSÈ QBSB FNQSFOEFS VO QSPZFDUP RVF JOWPMVDSF BM &TUBEP

&M TVF­P RVF DPNJFO[B

FO 4JMJDPO 7BMMFZ #FDBT VOJWFSTJUBSJBT IBZ NVDIBT QFSP MB RVF EJTGSVUB "MGPOTP 3PES¤HVF[ FT FTQFDJBM BM SFQSFTFOUBS VOB HSBO PQPSUVOJEBE QBSB FM GVUVSP Z EFTBSSPMMP UFDOPMªHJDP EF +BMJTDP Z . YJDP 1PS /PSNB (VUJ¹SSF[

"

MGPOTP 3PES½HVF[ FT FTUVEJBOUF EF *OHFOJFS½B *OEVT USJBM F *OOPWBDJÂO EF /FHPDJPT EF MB 6OJWFSTJEBE 1BO BNFSJDBOB FO (VBEBMBKBSB Z EFTEF IBDF USFT TFNB OBT TF JOTUBM FO 4BO 'SBODJTDP FO VOP EF MPT N²YJNPT EFTBSSPMMPT UFDOPMÂHJDPT EF &TUBEPT 6OJ EPT 4JMJDPO 7BMMFZ DPO MB FONJFOEB EF EFNPTUSBS FM UBMFOUP Z QSP GFTJPOBMJTNP RVF IBZ FO MBT BVMBT VOJWFSTJUBSJBT UBQBU½BT i$PO FTUF UJQP EF QSPHSBNBT TF CVTDB MB VOJÂO FOUSF &TUBEPT 6OJEPT Z .¹YJDP QBSB FODPOUSBS BMVNOPT P SFDJ¹O FHSFTBEPT RVF QVFEBO DVSTBS VO QPTUHSBEP P USBCBKBS FO &TUBEPT 6OJEPT FO VO GVUVSPw FYQMJDB "MGPOTP 3PES½HVF[ BM TFÁBMBS RVF QFTF B ZB UFOFS FYQFSJFODJB DPNP CFDBSJP FO JOTUJUVDJPOFT FYUSBOKFSBT FO "MFNB OJB P 8BMU %JTOFZ FO 0SMBOEP QPS FKFNQMP ¹TUB BQFSUVSB FO 4JMJ DPO 7BMMFZ SFQSFTFOUB MPT DJNJFOUPT MP RVF QVFEF TFS TV GVUVSP QSP ZFDUP QSPGFTJPOBM -B QBSUJDVMBSJEBE EF FTUB CFDB BQPZBEB QPS MB FNCBKBEB EF &TUBEPT 6OJEPT FO .¹YJDP MB "TPDJBDJÂO EF &NQSFTBSJPT .FYJ DBOPT FO &TUBEPT 6OJEPT EFM OPSUF EF $BMJGPSOJB F *NQVMTB "DF MFSBEPSB EF /FHPDJPT FT SFVOJS B MPT NFKPSFT FHSFTBEPT P FTUV EJBOUFT EFM ÈMUJNP BÁP VOJWFSTJUBSJP QBSB JOUFHSBSTF B QSPHSBNBT Z DPNQBÁ½BT FTQFDJBMJ[BEBT FO MBT ²SFBT EF FOFSH½B iGJOUFDIw iTUBSUVQw UFDOPMPH½B Z iNPCJMF BQQTw QPS FKFNQMP QBSB RVF FTUPT GVUVSPT QSPGFTJPOJTUBT DPOP[DBO DÂNP TF HFTUJPOBO Z MMFWBO BM NFS DBEP QSPZFDUPT QPUFODJBMFT DBQBDFT EF USBOTGPSNBSTF FO FNQSF TBT M½EFSFT F JOOPWBEPSBT i&M QSPDFTP QBSB TFS TFMFDDJPOBEP DPNP CFDBSJP FT DPN QMFKP Z MBSHP FNQFD¹ B BQMJDBS FTUB CFDB B GJOBMFT EF TFQUJFN CSF EF 5JFOFT RVF DVNQMJS DPO SFRVJTJUPT DPNP 50&'- DFSUJGJDBEP EFM EPNJOJP EFM JEJPNB JOHM¹T CVFO QSPNFEJP QPS FKFNQMP EFTQV¹T UF IBDFO VOB FOUSFWJTUB QPS WJEFP QBSB DPOP DFS UV FYQFSJFODJB QPS RV¹ UF DPOTJEFSBT CVFO DBOEJEBUP BEF N²T EF VO FOTBZP USBT QBTBS MPT GJMUSPT Z QSFWJBT TFMFDDJPOFT IBDFT MB FOUSFWJTUB FO 4JMJDPO 7BMMFZw -B DPOWPDBUPSJB RVF SFDJCF N²T EF TPMJDJUVEFT EF UPEP .¹ YJDP Z USBT VO EFUBMMBEP QSPDFTP EF TFMFDDJÂO GJOBMNFOUF PQU QPS

"MGPOTP 3PES½HVF[ DPOWJSUJ¹OEPMP BT½ FO FM ÈOJDP CFOFGJDJBEP EF (VBEBMBKBSB EF MPT CFDBSJPT NFYJDBOPT RVF B MP MBSHP EF PDIP TFNBOBT DPMBCPSBS² FO 7FOUVSF $BQJUBM DPNQBÁ½B FOGPDBEB FO MB JOWFTUJHBDJÂO Z QSPDFTPT EF i%VF %JMJHFODFw i-P RVF FTUPZ IBDJFOEP FTU² FOGPDBEP N²T FO MPT OFHPDJPT &T UPZ USBCBKBOEP FO CVTDBS FNQSFTBT RVF DPOTJHVFO EJOFSP EF JOWFS TJPOJTUBT RVF FWBMÈBO TUBSUVQT BQPTUBSMFT DPO MB FTQFSBO[B EF RVF FO VO GVUVSP PCUFOFS HBOBODJBT DVBOEP MBT FNQSFTBT DSF[DBO &O 7FOUVSF $BQJUBM UPEP FM UJFNQP TF FTU² FO DPOUBDUP DPO MPT $&0 EF MBT FNQSFTBT EF 4JMJDPO 7BMMFZ RVF JOJDJBO TJFOEP QFRVFÁBT Z BM QB TP EFM UJFNQP TF WVFMWFO JNQPSUBOUFT DPOPDFT EF RV¹ TF USBUBO TVT OFHPDJPT FTDVDIBOEP JEFBT OPTPUSPT JEFOUJGJDBNPT MBT RVF UJFOFO N²T QPUFODJBMw

-P RVF WJFOF "MGPOTP 3PES½HVF[ TFÁBMB RVF USBT DPODMVJS TV FYQFSJFODJB FO 4JMJDPO 7BMMFZ Z DPODMVJS TVT FTUVEJPT FO JOHFOJFS½B FOUSF TVT QMB OFT EFTUBDB DVSTBS VO i.BTUFS JO #VTJOFTT "ENJOJTUSBUJPOw RVF MP BZVEF B OVUSJS TVT GPSNBDJÂO Z BT½ FNQSFOEFS VO QSPZFDUP FO +B MJTDP BQSPWFDIBOEP FM DSFDJNJFOUP UFDOPMÂHJDP RVF FM &TUBEP UJFOF i6OB EF NJT NFUBT B DPSUP QMB[P FT DVSTBS VO .#" Z MB PUSB FT RVF NF HVTUBS½B UFOFS NJ QSPQJP OFHPDJP 4JFOUP RVF FTU² CFDB NF BZVEB NVDIP B BCTPSCFS MB FYQFSJFODJB EF PUSPT QBSB RVF ZP DVBOEP SFHSFTF QVFEB JOJDJBS NJ OFHPDJP RVJ[² BIPSSBSNF NV DIPT FSSPSFT RVF PUSB HFOUF ZB DPNFUJÂ TBCFS DÂNP TF TPMVDJPOBOw "MGPOTP SFDPOPDF RVF TJ CJFO +BMJTDP Z TV [POB NFUSPQPMJUBOB FT DPOTJEFSBEB DPNP FM 4JMJDPO 7BMMFZ EF .¹YJDP BÈO GBMUB NVDIP DBNJOP QPS SFDPSSFS QBSB DPOTPMJEBS QSPZFDUPT DBQBDFT EF JHVBMBS FM JNQBDUP EF MB NFDB UFDOPMÂHJDB EF &TUBEPT 6OJEPT VOB SFBMJEBE RVF QPES½B TFS GBDUJCMF FO VO QBS EF BÁPT N²T i&O HFOFSBM .¹YJDP BÈO FTU² WFSEF FO FTUF UFNB QFSP (VB EBMBKBSB FTU² DSFDJFOEP NVDIP ZB IBZ QSPZFDUPT TJNJMBSFT RVF TF EFEJDBO B MP RVF FTUPZ IBDJFOEP FO 4JMJDPO 7BMMFZ &O (VBEBMBKBSB IBZ NVDIP DSFDJNJFOUP EF TUBSUVQT UFDOPMPH½B &T VO IFDIP JOUF SFTBOUF FM RVF (VBEBMBKBSB TFB DPOTJEFSBEB MB 4JMJDPO 7BMMFZ EF .¹ YJDP Z ZP DPO MB FYQFSJFODJB RVF FTUPZ BERVJSJFOEP BD² FTQFSP DPO USJCVJS B FTF DSFDJNJFOUPw

8* ", "Ê Ê 1 " Õ iÀ Ê i > >ÀÞ

ÊµÕ iÀ ʵÕiÊ iÊ iÃÌj Ê«Ài}Õ Ì> ` 4J BMHP MF NPMFTUB B VO BEJDUP FT RVF MF QSFHVOUFO DÂNP WB DPO TVT BTVOUPT &T N²T RVF TF NFUBO DPO TV WJEB 4FS PCKFUP EF DIJTNFT JO USJHBT EJNFT Z EJSFUFT Z TPCSF UPEP B MBT FTQBMEBT FT WFSEBEFSBNFOUF JSSJUBOUF QBSB DVBMRVJFS QFSTPOB QFSP QBSFDF RVF FT QFPS QBSB VOB QFSTPOB RVF QBEFDF VOB BEJDDJÂO .F QBSFDF JNQPSUBOUF SFDPOPDFS RVF FO MB WJEB UPEPT UFOFNPT EFSFDIP B MB JOUJNJEBE B MB QSJWBDJEBE F JODMVTP IBTUB B HVBSEBS TFDSFUPT EF OVFTUSB WJEB

: MBT QFSTPOBT NFUJDIFT Z QSF HVOUPOBT OP TPO CJFOWFOJEBT 4PO DVFTUJPOFT B WFDFT JODPNQSFOTJCMFT QFSP NVZ SFB MFT /P MFT HVTUB RVF TF RVJFSBO NFUFS B EPOEF OP MFT MMBNBO 1VFEF TFS RVF UBNCJ¹O FO FM GPOEP FYJTUB BMHP EF QFOB EF WFSHÊFO[B Z IBTUB EF MB OFDF TJEBE EF PDVMUBS MBT DPTBT RVF TB CFNPT RVF FTUBNPT IBDJFOEP NBM QFSP FO QBSUF FT OVFTUSP EF SFDIP EF DPODJFODJB EF SFTFSWBS DJFSUBT UFOEFODJBT Z EFGFDUPT RVF UFOFNPT FO OVFTUSB NBOFSB EF

TFS Z EF WJWJS MB WJEB 4J UF MP RVJFSP DPOUBS MP IBS¹ QFSP OP JOTJTUBT FO BMHP RVF OP FTUPZ EJTQVFTUP B IBDFS DPO HVTUP &TUB FT VOB NBOFSB NVZ U½ QJDB EF QFOTBS EF VOB QFSTPOB RVF DVJEB RVF OP TF TFQB MP RVF MF TVDFEF &O HFOFSBM MP ÈOJDP RVF BDBCB QPS QSPWPDBS FT RVF USBUFO EF FWJUBS MB DFSDBO½B DPO VOB QFS TPOB QSFHVOUPOB Z NFUJDIF : QF PS BÈO DVBOEP B MB CSBWB UF USBUBO EF TBDBS MP RVF USBFT &M UFNB FT MB DPOGJBO[B %F MP RVF TF USBUB FT EF RVF FM BEJD UP TF TJFOUB DÂNPEP Z TFHVSP BM FT UBS B UV MBEP Z OP FTU¹ DPO MB BO TJFEBE P FM UFNPS EF FO RV¹ NPNFOUP MP WBT B JOUFSSPHBS "T½ RVF SFDVFSEB CJFO RVF QSFHVOUBS QVFEF TFS UBNCJ¹O VO NPUJWP EF BMFKBNJFOUP Z QFS EFS MB PQPSUVOJEBE EF BZVEBS Z EF DPOTUSVJS MPT OFDFTBSJPT MB[PT EF DPOGJBO[B 1PS FTP IBZ RVF TBCFS QSFHVOUBS Z IBDFSMP FO FM NPNFO UP BEFDVBEP

JSDVMB FO MBT SFEFT EFTEF IBDF VOPT E½BT VO WJEFP FO FM RVF FM DPOEVDUPS EF VOB DB NJPOFUB BM RVF TF JEFOUJGJDB BEFN²T DPNP GVODJPOB SJP EF VO KV[HBEP MPDBM TF MBO[B B EBS EF FNQFMMPOFT B JODSFQBS Z IBT UB BNFOB[BS B VO IPNCSF BM RVF BQBSFOUFNFOUF BDBCB EF MMFWBS TF FOUSF MBT MMBO UBT i`:B UF QFE½ ·9Êà ÊÕ Ê iÃÊ i}>Ê EJTDVMQBT w MF >Ê`iV ÀÊ> } ]Ê FTQFUB NBHO² OJNP DPNP UPEB >Õ µÕiÊÃi>ÊÕ Ê DPODFTJÂO 1PS Ì ` ʺ"Þi]Ê À>Ê FTP MP FUJRVFUB SPO DPNP >ÊV> i»]ÊV Ê -PSE%JTDVM Ài>VV > ¶Ê Ê >Ê QBT i#JFOWFOJ >Þ À >]ÊV Ê EP B SFEFT TPDJB MFT BNJHPw MF V ÃÊÀ>L Ã Ã°Ê EJDF MB W½DUJNB BM GJOBM EF MB HSBCB DJÂO NJFOUSBT FM PGVTDBEP DPOEVD UPS TF NBSDIB -P ÈMUJNP RVF TF NF PDVSSJS½B FO FM NVOEP FT QPOFSNF EFM MBEP EF -PSE%JTDVMQBT BVORVF MB QSPMJGF SBDJÂO DBOTJOB EF i-PSFTw Z i-BEZTw FO MBT SFEFT IBDF QFOTBS FO TJ EF WFS EBE HBOBNPT BMHP DPO TV DPOUJOVB FYIJCJDJÂO /BEB EF FTP FOUJFOEP NVZ CJFO MB JSB EFM BUSPQFMMBEP RVF QPS GPSUVOB QBSFDF OP IBCFS TJEP HSBWFNFOUF IFSJEP i%FKB EF JS FO FM UFM¹GPOPw FT MP RVF MF SFDMBNB B FTF BHSFTPS RVF DPNP UBOUPT PUSPT NJ MFT EF UBQBU½PT DPOTJEFSB RVF TVT DP NVOJDBDJPOFT TPO UBO VSHFOUFT RVF MF FYJHFO JS DIBUFBOEP UVJUFBOEP P NJSBOEP NFNFT FO WF[ EF DPODFO USBSTF FO FM WPMBOUF {/P WFNPT NJM EF FTPT DBEB WF[ RVF TBMJNPT B MB DBMMF .JM P N²T "CVOEBO {: TJ VOP MFT MMFHB B EFDJS BMHP BVORVF TFB VO U½NJEP i0ZF NJ SB MB DBMMFw DÂNP SFBDDJPOBO &O MB NBZPS½B EF MPT DBTPT DPNP NJDPT SB CJPTPT )BZ QVFT VO -PSE%JTDVM QBT BUSBQBEP FO FM DVFSQP EF DBTJ DB EB TVKFUP IPNCSF NVKFS P RVJNFSB RVF NBOFKF VO BVUP FO FTUB DJVEBE )BDF VOB TFNBOB TF DPSSJ VO NFEJP NBSBUÂO CBTUBOUF WJTUPTP :P RVF DBNJOP QFSP OP DPSSP NF FOUF S¹ TPMBNFOUF QPSRVF VO UJQP WFTUJEP DPO QMBZFSJUB CSJMMBOUF Z DPO VO OÈ NFSP FO FM QFDIP Z PUSP FO MB FTQBM EB UVWP B CJFO JOUFOUBS EBS VO BDF MFSÂO Z DPMBSTF FOUSF FM BVUP FO FM

RVF ZP JCB EF DPQJMPUP Z MB DPDIFSB FO MB DVBM JCB B TFS FTUBDJPOBEP &T UP FO VOB DBMMF QFRVFÁB EF VOB TP MB DVBESB FO EPNJOHP B NFEJPE½B TJO OBEJF N²T DJSDVMBOEP &M UJQP UVWP RVF EBS VO GSFOÂO DVBOEP WJP RVF OP BMDBO[BCB B NFUFS FM DPGSF EF TV BVUP QFSP OP TF DFK FO TV FNQFÁP EF QBTBS QPS FTF NFUSP EF BT GBMUP BOUFT RVF FM WFI½DVMP RVF FTUBCB EFMBOUF EF ¹M $PNP TJ TV JOUFOUP EF SF CBTBS FTUVWJFSB KVTUJGJDBEP NBOPUFBCB DPO EFTFTQFSBDJÂO QPSRVF OP TF MF DF E½B FM QBTP .FOPT NBM RVF FM DPOEVD UPS JCB BDPNQBÁBEP QPS VOB NVKFS Z VOPT OJÁPT BUFSSBEPT RVF MP NJSBCBO DPO B[PSP QPSRVF TVT HSJUPT Z NBOPUB [PT EFKBCBO DMBSP RVF OP IBC½B NVDIB EJGFSFODJB FOUSF -PSE%JTDVMQBT Z ¹M 5VWP RVF FTQFSBS TV UVSOP QVFT Z MVF HP TF GVF RVFNBOEP MMBOUB 2VFEB DMBSP RVF MPT DPOEVDUP SFT FTU²O FTUSFTBEPT UBOUP RVF OP TVFMUBO FM DFMVMBS QPSRVF TF BDVFS EBO EF JONFEJBUP EF MP NBM RVF FT U² FM NVOEP 2VF MBT PCSBT FUFSOBT FO QVOUPT DMBWF EF MB DJVEBE FM FY DFTP EF BVUPNÂWJMFT MB EFGFDUVPTB TJODSPO½B EF MPT TFN²GPSPT P MBT USJT UF[BT EF MB WJEB EJBSJB MPT QPOFO EF OFSWJPT 2VF BMHVOPT EF FMMPT EFCB KP EF FTB FOPSNF QSFTJÂO EFKBO TB MJS FM MBEP QTJDÂQBUB EF TVT QFSTPOB MJEBEFT Z OP EVEBO FO JOTVMUBS BHSFEJS P NBMEFDJS B RVJFO TF MFT BUSBWJFTF &M QSPCMFNB FT RVF MPT SFTQPOTBCMFT EF FMMP OP TPNPT NBZPSJUBSJB +ÕiÊ> }Õ ÃÊ`iÊ NFOUF MPT QFB i Ã]Ê`iL> Ê`iÊ UPOFT DMBSP RVF BMHVOPT QFBUP iÃ>Êi À iÊ OFT TPNPT UPS «Àià ]Ê`i > Ê QFT P MFOUPT BM DSV[BS MBT DBMMFT Ã> ÀÊi Ê >` Ê QFSP OVODB IF «Ã V «>Ì>Ê`iÊÃÕÃÊ NPT QSPWPDBEP VO FNCPUFMMB «iÀà > `>`iÃÊiÊ NJFOUP /J OPT ÃÕ Ì> DBJHBO DPNP OPT DBJHBO MP TPO UBNQPDP MPT DJDMJTUBT RVF BM NFOPT UJFOFO VOB QSPQVFTUB EF DÂNP DBNCJBS MB NP WJMJEBE MPDBM RVF BMHVOPT TF FYQSF TFO DPNP UBMJCBOFT FT PUSB DPTB MBT CJDJDMFUBT OP QSPWPDBO FM BMVE EF BD DJEFOUFT EJBSJPT .JFOUSBT UBOUPT UBQBU½PT QJFO TFO RVF DPNQPSUBSTF DPNP PSBUFT BM WPMBOUF FT VO EFSFDIP GVOEBNFOUBM OBEB TF SFTPMWFS²


1~(*/" #

&- */'03."%03 &- */'03."%03

"/«-*4*4

%PNJOHP EF GFCSFSP EF

&/3*26& 50644"*/5 "/"-*45" 10-¶5*$0

-B IJTUPSJB EF +BDJOUB "MCFSUB Z 5FSFTB FT VOB DSªOJDB EF NBOJQVMBDJªO Z GBMTJGJDBDJªO EF VO TJTUFNB IFDIP QBSB DSJNJOBMJ[BS BM N T E CJM

-

B EFNPDSBDJB TVQPOF VOB DJVEBEBO½B EFTQJFSUB Z DS½UJDB &M DBTP EF MBT JOE½HFOBT +BDJOUB "MCFSUB Z 5FSFTB TVQPOES½B MB DB½EB EF VO QSPDVSBEPS FO DVBMRVJFS QB½T NFEJBOBNFOUF DJWJMJ[BEP EFM NVOEP 4VQPOES½B VOB JOEJHOBDJÂO OBDJPOBM RVF TBDBS½B B MB DBMMF B NJMMPOFT EF QFSTPOBT .²T JOEJHOBDJÂO RVF MB TVCJEB EF EPT QFTPT FO FM QSFDJP EF MB HBTPMJOB P MB MFHBMJ[BDJÂO EF MPT NBUSJNPOJPT FOUSF QFSTPOBT EFM NJTNP TFYP &T FM VTP EF MB KVTUJDJB QBSB BUFOUBS DPOUSB MPT N²T E¹CJMFT DPOUSB MPT N²T JO EFGFOTPT 5BM WF[ OP OPT EBNPT DVFOUB QFSP VO &TUBEP RVF OP SFTQFUB MPT QSPDFTPT OPT BNFOB[B B UPEPT -B WJPMBDJÂO BM EFCJ EP QSPDFTP FT MB EFTUSVDDJÂO EFM FTUBEP EF EFSFDIP Z TV QSJODJQJP SFDUPS UPEPT TPNPT JOPDFOUFT IBTUB RVF TF EFNVFTUSB MP DPOUSB SJP 5PEPT TPNPT +BDJOUB "MCFSUB Z 5FSFTB )PZ GVFSPO FMMBT NB ÁBOB QPEFNPT TFS VTUFE P ZP /P IBZ GPSNB EF FTDSJCJS TPCSF FTUF DBTP TJO QPOFSUF FO MPT [B QBUPT EF MBT BGFDUBEBT /P IBZ GPSNB EF FTDSJCJS TJO DPOFDUBS FNP DJPOBMNFOUF DPO MB USBHFEJB EF USFT NVKFSFT JOE½HFOBT W½DUJNBT EF VO TJTUFNB DPSSPNQJEP IBTUB MB N¹EVMB 6O TJTUFNB RVF DSJNJOBMJ[B BM JOPDFOUF Z QSPUFHF BM DVMQBCMF 6O QB½T FO EPOEF TFS QPCSF FT VO EFMJUP RVF BNFSJUB D²SDFM Z TFS JO E½HFOB FT TJOÂOJNP EFM BCBOEPOP +BDJOUB "MCFSUB Z 5F SFTB TPO DPOEFOBEBT B BÁPT EF QSJTJÂO NJFOUSBT RVF +BWJFS %VBSUF IVZF CBKP MBT OBSJDFT EF MBT BVUP SJEBEFT 4BRVFPT QÈCMJDPT VO E½B T½ Z FM PUSP UBN CJ¹O F JNQVOJEBE HBSBOUJ[BEB TF FT OVFTUSP HSBO GSBDBTP 6O TJTUFNB KVEJDJBM RVF FT DBQB[ EF BMUFSBS FOHBÁBS GBMTJGJDBS Z IBDFS UPEP MP OFDF TBSJP QBSB QPOFS USBT MBT SFKBT B USFT JOE½HFOBT RVF WFOEFO BHVBT GSFTDBT QFSP RVF DPOTJFOUF Z HBSBOUJ[B MB QPESFEVNCSF EFM TJTUFNB +BDJOUB "MCFSUB Z 5FSFTB TPO USFT NVKFSFT DPOEFOBEBT B BÁPT QPS TFDVFTUSBS B TFJT FMF NFOUPT EF MB "HFODJB 'FEFSBM EF *OWFTUJHBDJÂO "'* -B NFSB RVFSFMMB FT VO BCTVSEP JOEFT DSJQUJCMF 6O BUFOUBEP DPOUSB MB SB[ÂO {$ NP FT QPTJCMF RVF USFT NVKFSFT QSJWFO EF MB MJCFSUBE B TFJT FMFNFOUPT EF MB "'* GVFSUF NFOUF BSNBEPT Z FOUSFOBEPT 5PEP FMMP EF SJWBEP EF VO FOGSFOUBNJFOUP QÈCMJDP DPO DPNFSDJBOUFT JOGPSNBMFT FO BHPTUP EF +BDJOUB "MCFSUB Z 5FSFTB GVFSPO MBT W½DUJNBT G²DJMFT QBSB UPNBS WFOHBO[B %F BI½ FO BEFMBOUF UPEP GVF DPSSVQDJÂO Z TJ NVMBDJÂO 5PEP GVF GBMTJGJDBDJÂO 'VFSPO TFOUFODJBEBT TJO USBEVDUPSFT B TV MFOHVB DPNP MB NBSDB MB MFZ 'VFSPO TFOUFODJB EBT B BÁPT EF QSJTJÂO TJO EFTBIPHP EF QSVFCBT )BTUB MF GBMTJGJDBSPO TV EF DMBSBDJÂO FO QFSGFDUP DBTUFMMBOP -B DPOTJHOB FSB SFGVOEJSMB FO QSJTJÂO BM QSFDJP RVF GVFSB 5SFT BÁPT FO QSJTJÂO B CBTF EF NFOUJSBT Z NBOJQVMBDJPOFT &O TF QSPC TV JOPDFODJB BOUF VO KVJDJP NFEJBUJ[BEP QPS MB JO WBMVBCMF DPNQBÁ½B EFM $FOUSP .JHVFM "HVTU½O 1SP RVF MMFW MB DBVTB IBTUB TVT ÈMUJNBT DPOTF DVFODJBT : IBTUB FM 5SJ CVOBM 'FEFSBM EF +VTUJDJB 'JT DBM Z "ENJOJTUSBUJWB 5'+'" GBMM B GBWPS EF MB EFNBOEB EF SFTBSDJNJFOUP NPSBM Z NBUFSJBM JOUFSQVFTUB QPS FO DPOUSB EF MB 1(3 $BTJ VOB E¹DBEB CBUBMMBOEP DPOUSB MB NFOUJSB DBTJ VOB E¹DBEB MVDIBOEP DPOUSB VO QB½T FO EPOEF MB JOKVTUJDJB FT MB NPOFEB DPSSJFOUF /P EFKB EF TFS JOEJH OBOUF RVF FM .JOJTUFSJP 1ÈCMJDP MB 1(3 RVF EFGJFOEF FM JOUFS¹T QÈCMJDP FO DPOUSB EF MPT BDUPT EF MPT DSJNJOBMFT IBZB EFDJEJEP IBDFS UPEP MP QPTJCMF QBSB JODSJNJOBS Z TPNFUFS B USFT JOE½HFOBT QPCSFT RVF WJWFO EF WFOEFS BHVB GSFTDB FO FM DFOUSP EF 2VFS¹UB SP &T VOB SBEJPHSBG½B EPMPSPTB EF MB QPESFEVNCSF JOTUJUVDJPOBM /P EJHP OBEB OVFWP RVF DVBOEP TFÁBMP RVF MB USBOTJDJÂO B MB EFNPDSBDJB OP UPD B MB KVTUJDJB FO .¹YJDP +BDJOUB "MCFSUB Z 5F SFTB TPO FM FTQFKP EF VO TJTUFNB RVF OP TÂMP OP TF SFGPSN TJOP RVF JODMVTP TF IB EFUFSJPSBEP N²T FO MPT ÈMUJNPT BÁPT $PNP DJVEBEBOPT MP IFNPT QFSNJUJEP )F NPT CMJOEBEP BM 1PEFS +VEJDJBM DPO OVFTUSB JOEJ GFSFODJB Z OVFTUSB JOEPMFODJB -BT JOKVTUJDJBT TF BQJMBO Z OVFTUSB SFTQVFTUB TJFNQSF FT MB NJTNB TFHV SP BOEBCB FO BMHP 4BCFNPT RVF FM 1PEFS +VEJDJBM Z MPT ÂSHBOPT EF QSPDVSBDJÂO EF KVTUJDJB FTU²O DPSSPNQJEPT IBTUB FM GPOEP Z OBEB QBTB &M TJTUFNB KVEJDJBM FT VOB DBKB PTDVSB SFQMFUB EF JOUFSFTFT Z RVF OBEJF TF BUSFWF B UPDBS /P UFOFNPT RVF FDIBS MB NJSBEB EFNBTJBEP QBSB BUS²T QBSB BDPSEBSOPT EF QSFTVOUP DVMQBCMF Z MBT USPQFM½BT EF MPT FYQFEJFOUFT BSNBEPT QBSB DSJNJ OBMJ[BS TFMFDUJWBNFOUF -PT FTD²OEBMPT TVCFO Z CBKBO QFSP UBM WF[ FO OVFTUSB DPODJFODJB FTU² MB USBORVJMJ[BEPSB JEFB EF RVF B OPTPUSPT OP OPT WB B QBTBS /P OPT EBNPT DVFOUB RVF MB IJTUPSJB EF FT UBT USFT JOE½HFOBT FT UBO DPNÈO DPNP JOEJH OBOUF $V²OUPT NFYJDBOPT JOPDFOUFT BHVBSEBO TJMFODJPTBNFOUF FO QSJTJÂO MB JOUFSWFODJÂO EFM EFTUJOP $V²OUPT DBTPT EF NFYJDBOPT JOPDFOUFT OP TF NFEJBUJ[BO OP UJFOFO MB BUFODJÂO EF MB DJV EBEBO½B Z TF EFTWBOFDFO FO FM BOPOJNBUP +ÂWF OFT QPCSFT NBESFT EF GBNJMJB DSJNJOBMJ[BEBT QSPGFTJPOJTUBT KVTUPT RVF TPO DIJWPT FYQJBUP SJPT 6O BCPHBEP DPO SFDVSTPT QBSB DPSSPNQFS VO NJOJTUFSJP QÈCMJDP EJTQVFTUP BM TPCPSOP Z VO KVF[ TFEVDJEP QPS FM EJOFSP QVFEFO NFUFS B VOB QFSTPOB B MB D²SDFM QPS BÁPT Z BDBCBS DPO TV WJEB : TJ FT QPCSF TJO JOGMVFODJBT Z SFMBDJPOFT MB JOKVTUJDJB FTU² BTFHVSBEB /P IBZ QB½T N²T JOKVTUP RVF FM RVF BCBOEPOB B MPT N²T EFTGBWPSFDJEPT -B EJTDVMQB QÈCMJDB EF MB 1(3 FT VO BWBODF QFSP VO BWBODF PCMJHBEP &M QSPDVSBEPS EJP EJTDVMQBT QÈCMJDBT FM QBTBEP EF GF CSFSP QPS VOB PSEFO NBOJGJFTUB EF MB 4VQSFNB $PSUF EF +VTUJDJB EF MB /BDJÂO "M JHVBM RVF MB EJTDVMQB RVF PGSFDJ 1FÁB /JFUP QPS MB JOEJHOBDJÂO OBDJPOBM QPS FM DBTP EF MB $BTB #MBODB MB EJTDVMQB EF MB 1(3 QVFEF TFS VO QFSEÂO QFSP OVODB VOB EJTDVMQB &M WFSEBEF SP BDUP EF DPOTUSJDDJÂO EFM .JOJTUFSJP 1ÈCMJDP TFS½B BENJUJS RVF MB SFBMJEBE EF +BDJOUB "MCFSUB Z 5FSFTB FT MB SFBMJEBE DPNÈO MB EF UPEPT MPT E½BT )BTUB BCSJM EF EF MPT QSFTPT FO .¹YJDP OP UFO½BO TFOUFODJB {$V²OUPT JOPDFOUFT IBZ BI½ {$V²OUPT JOP DFOUFT RVF OJ TJRVJFSB TPO DBQBDFT EF UFOFS VO BCPHBEP RVF MPT EF GJFOEB BEFDVBEBNFOUF {$V²OUPT JOPDFOUFT RVF TVGSFO FO MB PTDV SJEBE MB DPSSVQDJÂO EFM TJTUFNB 4ÂMP IBZ VO QFPS NBM RVF OP DBTUJHBS B VO DVMQBCMF Z FT DSJNJOBMJ[BS B VO JOPDFOUF &M 4JTUFNB 1FOBM "DVTBUPSJP MPT KVJDJPT PSBMFT TPO VOB CVF OB SVUB QBSB SFTQFUBS FM EFCJEP QSPDFTP EF MPT BDVTBEPT 5BM WF[ DPO FM TJTUFNB RVF OBDF +BDJOUB "MCFSUB Z 5FSFTB OP IBCS½BO TJ EP DPOEFOBEBT B BÁPT DPO VO KVJDJP BNBÁBEP Z TJO QPTJCJMJEBE

*-6453"$*»/ t + -»1&;

+BDJOUB : -" 10%3&%6.#3&

%& -" Ü+645*$*"Ý EF EFGFOTB " QFTBS EF TV EVSP DPNJFO[P FM 4JTUFNB 1FOBM "DV TBUPSJP FT HBSBOUJTUB QSPUFHF MPT EFSFDIPT IVNBOPT Z FM EFCJEP QSPDFTP 6O DBNCJP QBSBEJHN²UJDP RVF OPT UPDBS² CVFO UJFNQP BTJNJMBS 4JO FNCBSHP OP IBZ NPEFMP RVF QVFEB DPOUSB VO TJTUF NB DPSSPNQJEP IBTUB MB NFEVMB /P IBZ TJTUFNB RVF BHVBOUF BCPHBEPT DPSSVQUPT NJOJTUFSJPT RVF OP EFGJFOEFO FM JOUFS¹T QÈ CMJDP Z KVFDFT P NBHJTUSBEPT RVF TPMP QJFOTBO FO GBWPSFDFS TVT OFHPDJPT P JOUFSFTFT QFSTPOBMFT /P IBZ Z OVODB IBCS² TJTUFNB RVF QVFEB DPO MB DPSSVQDJÂO HFOFSBMJ[BEB FTP OPT EFCF RVFEBS NVZ DMBSP &O NBUFSJB EF SFGPSNB KVEJDJBM OP IBZ DBNJOP G²DJM -BT WB SJUBT N²HJDBT TPO DPNVOFT FO FM EJTDVSTP QPM½UJDP QFSP JSSFBMJ[B CMFT FO MB QS²DUJDB &M TJTUFNB FTU² SPUP DPSSPNQJEP Z WJDJBEP -P QSJNFSP FT MJNQJBS Z EPUBS EF BVUPOPN½B BM NJOJTUFSJP QÈCMJDP &O FOUSB FO GVODJPOFT MB 'JTDBM½B (FOFSBM EF MB 3FQÈCMJDB DPO BVUPOPN½B DPOTUJUVDJPOBM *OWFTUJHBDJÂO F JOUFHSBDJÂO EF FY QFEJFOUFT TPO GVOEBNFOUBMFT QBSUJDVMBSNFOUF FO FM OVFWP TJTUF NB &M QSJNFS GJTDBM EFCF TFS VOB GJHVSB JOUBDIBCMF RVF MF JNQSJ NB TV TFMMP B VOB JOTUJUVDJÂO RVF OFDFTJUB VO QBSUP TJO EPMPS -PT QBSUJEPT QPM½UJDPT UJFOFO VOB SFTQPOTBCJMJEBE IJTUÂSJDB Z VO TB

MJFOUF 1FÁB /JFUP UBNCJ¹O -VFHP FM 1PEFS +VEJDJBM -B DPSSVQ DJÂO FT N²T BDFOUVBEB B OJWFM MPDBM RVF B OJWFM GFEFSBM QFSP FT UJFNQP EF RVF BMHVJFO MF FOUSF B GPOEP B MJNQJBS BM 1PEFS +VEJDJBM Z BTFHVSBS KVFDFT JNQBSDJBMFT RVF OP FTU¹O WFOEJEPT OJ BM DSJ NFO OJ B JOUFSFTFT FYUFSOPT B MB KVTUJDJB /FDFTJUBNPT QBSBS EF DBCF[B FM TJTUFNB FM BDUVBM FTU² PCTPMFUP $PNP TJFNQSF EFUS²T EF UPEP FQJTPEJP PCTDVSP Z EPMPSPTP FTU²O UPEPT FTPT I¹SPFT BOÂOJNPT RVF OPT SFDVFSEBO RVF WBMF MB QFOB MVDIBS QPS FTUF QB½T "CPHBEPT DPNQSPNFUJEPT DPO MPT EF SFDIPT IVNBOPT RVF EFKBSPO UJFNQP Z EJOFSP QBSB FWJUBS RVF TF DPOTVNBSB MB USPQFM½B EF FODFSSBS B +BDJOUB "MCFSUB Z 5FSFTB QPS N²T EF EPT E¹DBEBT .BHJTUSBEPT RVF TF OFHBSPO B DPNQSBS VOB NFOUJSB Z RVF BOUF MBT MFHVMFZBEBT QVTJFSPO FM CSB[P GJSNB EF MB KVTUJDJB : NFEJPT EF DPNVOJDBDJÂO RVF OP TPMUBSPO FM QSPCMF NB IBTUB RVF MB JOPDFODJB EF MBT JOE½HFOBT GVF QSPCBEB /P FYB HFSP T½ EJHP RVF IBZ NPUJWPT QBSB QFOTBS RVF NVDIBT DPTBT FT U²O DBNCJBOEP /P PMWJEFNPT MB GSBTF EF #FSIUPME #SFDIU MB DSJTJT DPNJFO[B DVBOEP MP WJFKP OP BDBCB EF NPSJS Z MP OVFWP OP BDBCB EF OBDFS 1PDPT DBTPT JMVTUSBO DPO UBOUB DMBSJEBE MB DSJTJT EF S¹HJNFO RVF WJWF OVFTUSP QB½T


%PNJOHP EF GFCSFSP EF

1~(*/" #

&- */'03."%03

, "Ê Ê1 Ê -* / ", Õ> Ê*> >À "UNPTG¹SJDBT -B UFDOPMPH½B EF MB TFNJMMB -MFHB TJO EVEB EF MFKPT &T VOB QVSB BMB VO EJTQPTJUJWP B¹SFP MJWJBO½TJNP DBTJ JOUBOHJCMF &T UPEB MB QPTJ CJMJEBE FODFSSBEB FO VOB UFMB DVZB JOGJOJUBNFOUF TVUJM GBDUVSB FTDBQB QPS NVDIP B DVBMRVJFS JOUFOUP IVNBOP EF VO TFS WJWJFOUF EF QBTNPTP QPEFS½P &T FM HFSNFO VOP FOUSF DFOUFOBSFT EF NJMFT RVF VO ²SCPM FOWJ FO CVTDB EF VO TVFMP QSPQJDJP EF VO FT QBDJP DMFNFOUF &T MB T½OUFTJT QVOUVBM Z BCTPMVUB EF MB WJEB RVF B USBW¹T EF MBT FSBT JONFNPSJBMFT TF BCSF QBTP "QBSFDJ MB TFNJMMB TJO FYQMJDBDJÂO BMHVOB QPS FM BSUF EF VOB NBHJB IVNJMEF Z TBQJFOU½TJNB TPCSF MB NFTB EF USBCBKP 4V WVFMP GVF VOP EF UBO UPT QSPEJHJPT RVF TVDFEFO TJO RVF OBEJF SFQBSF FO FMMP DPO MB EJTDSFUB DPOUVOEFODJB EFM NJMBHSP "IP SB FTU² BMM½ DPNP VOB QSFHVOUB EF DVZB SFTQVFTUB DPNP DBEB WF[ EFQFOEF MB EVSBDJÂO EFM QMBOFUB :B CBKP FM DPCJKP EFM JOWFSOBEFSP JS² RVJ[²T B GSVD UJGJDBS MB QSPNFTB 1FSP FT OFDFTBSJP EFUFOFSTF BÈO FO NFEJP EFM KBSE½O B DFMFCSBS FTUB TFNJMMB &T VO OBW½P VOB SF GJOBEB FNCBSDBDJÂO RVF USJQVMB VO OÈDMFP EPSBEP FO GPSNB EF DPSB[ÂO RVF PTUFOUB FO TV JOUFSJPS VO USB[P NVZ QVSP RVF SFQJUF MB NJTNB GJHVSB -B UFMB MP FOWVFMWF Z MF QSFTUB TV MJWJBOB QSPQVMTJÂO FO MPT GBWPSBCMFT WJFOUPT EF GFCSFSP "M GSFOUF VOPT EFM HBE½TJNPT GJMBNFOUPT DBTJ TF BTPNBO EFM CPSEF QSFTUPT B DVNQMJS TVT USBCBKPT 7FMFSP EFM GVUVSP OBWF EF UPEP MP RVF TFS² VO JONFOTP NJTUFSJP IB DF DPNP EJKP .FSXJO JODMJOBS MB DBCF[B OP TBCJFO EP B 2VJ¹O %FTQJEJFOEP BM GSFTOP %F QPDPT TFSFT WJWJFO UFT TF UJFOF B FTUBT BMUVSBT MB DPOTUBODJB EF TV DB CBM EVSBDJÂO TPCSF MB UJFSSB -B QFSTFWFSBODJB EF TV DPUJEJBOB DPNQBÁ½B FM DPOTVFMP EF TV BNJTUBE FM HP[P EF TVT SFOVFWPT MB FYQFSJFODJB EF TVT DBN CJBOUFT IVNPSFT &T QBSB FM DBTP BMHP EF MP RVF TF QVFEF EFDJS TPCSF VO HSBO GSFTOP DFOUFOBSJP EFTB QBSFDJEP QPS FTUPT E½BT 4PNCSF IBDF E¹DBEBT MB WFOUBOB EF VOB DBTB QFSFHSJOB Z FOUPODFT SFDJFO UF $PCJK QPS NVDIPT BÁPT MPT USB[PT JODPOUBCMFT RVF TPCSF MBT NFTBT EFM UBMMFS TF GVFSPO TVDFEJFO EP 0GSFDJ B JOOVNFSBCMFT USBOTFÈOUFT MB CPOEBE EF TV FTUBNQB FM BMJWJP EF TV QSFTFODJB BNBCMF &SB FM PSHVMMP EF MB DVBESB MB DBTB EF MPT Q²KBSPT FM TVS UJEPS EF MBT WJTJPOFT EFM SFQPTP MB BNBCMF Z GFSP[ SFTJTUFODJB BOUF MB DJVEBE FSPTJPOBEB "DPTBEP QPS FM WFOEBWBM EF MB EFTWFOUVSB QPS FM JNQMBDBCMF TJUJP EFM BTGBMUP FM HSBO GSFTOP QFSEJ IBDF BMHVOPT UFNQPSBMFT TV QPEFSPTB SBNB HV½B FO NFEJP EF VOB UPSNFOUB $PNP DBCF FO MB WPMVOUBE Z MB MBSHB JOUFMJHFODJB EF FTUPT TFSFT QSPEJHJPTPT FM GSFTOP DBNCJ FOUPODFT TV FTUSBUFHJB .BOE TVT TBWJBT B SFGPS[BS MPT GPMMBKFT TPCSFWJWJFOUFT UFOT TVT FRVJMJCSJPT BGJO TVT SFUPÁPT QSPTJHVJ 1FSP ZB JCB FOUPODFT IFSJEP EF NVFSUF MB MMBHB OP DVSB CB MBT JOGFDDJPOFT BRVFKBCBO TV FEBE %FTEF MB WFOUBOB EFM UBMMFS EFTEF MBT USPOFSBT EFM TVS MB DPN QBÁ½B OVODB MF GBMU Z VOBT GMPSFT DPOTUBOUFT MF SJO EJFSPO QVOUVBM IPNFOBKF -BT PCSBT EFTQJBEBEBT EF MB DBMMF QSFDJQJUBSPO FM BOVODJBEP GJOBM 5SP[B EBT TVT SB½DFT NFOHVBEP TV BMJNFOUP FM GSFTOP FT DPHJ VOB EFTQFEJEB OPCMF UBKBOUF NPSJS EF QJF TBMVEBOEP BUFOUP B RVJFO MP WF½B 4JFSSBT Z N²RVJ OBT EJTQVTJFSPO ZB EF TVT OPCMFT SFTUPT %PT USPO DPT SFTDBUBEPT USBCBKPTBNFOUF TFS²O EFTEF FM QB UJP EF MBT FTQJOBT QFSEVSBCMF WFTUJHJP EF UPEP BRVFM

FTQMFOEPS : EPT USFT OVFWPT GSFTOPT DSFDFS²O FO FM MVHBS BIPSB WBD½P Z DPOUJOVBS²O MPT USBCBKPT EFM BIPSB QFSEJEP MMFOBS²O FM BJSF EF GSPOEBT Z TPN CSBT Q²KBSPT TVBWFT DMBSPTDVSPT QBSB MPT E½BT QPS WFOJS 4F NVSJÂ 8JMMZ "MESFUF VOB EF MBT GJHVSBT N²T FOUSBÁBCMFT EF MB (VBEBMBKBSB EF MBT ÈMUJNBT E¹DB EBT "SRVJUFDUP HSBO JNQVMTPS EFM UFBUSP EJCVKBO UF QJOUPS Z BDVBSFMJTUB EF FYDFQDJÂO : TPCSF UPEP VO QFSTPOBKF BGBCMF QMFOP EF VO CPOEBEPTP TFOUJ EP EFM IVNPS EVFÁP EF VOB SFGJOBEB FEVDBDJÂO %FD½B VO DPNQBÁFSP EF KVFHPT KVWFOJMFT RVF OBEJF DPSS½B UBO SFDJP DPNP ¹M $PO FTB HSBWF MJHFSF[B DSV [Â MB WJEB HBOÂ TJO DFTBS BNJHPT B MP MBSHP EF TV HFOUJM DBSSFSB $BCF BIPSB BOUF VO QBJTBKF EFCJEP B TV NBOP SFOEJS IPNFOBKF BM RVFSJEP 8JMMZ TFO UBEP IBDF NVDIPT BÁPT B MB PSJMMB EF MB QJTUB EF BUF SSJ[BKF EFM BFSPQVFSUP UBQBU½P BM DPCJKP EF VO TPN CSFSP RVF TF JNBHJOB B MB EJTUBODJB FM BSRVJUFDUP DPOTUSVZF DPO TV QJODFM MPT WBTUPT FTQBDJPT RVF BO UF ¹M TF EFTQMFHBCBO -BT MVDFT RVF MJNJUBO MB QJTUB EBO DVFOUB FO QSJNFS QMBOP EF MB BNQMJUVE EFM ²N CJUP EF MB PCSB VOB HSJT FYUFOTJÂO QPS MB RVF EFT QFHBO Z BUFSSJ[BO MPT HSBOEFT Q²KBSPT QMBUFBEPT MB GBDUVSB EF MPT IPNCSFT TV BSSPHBOUF JOWFODJÂO : DPNP PQPTJDJÂO Z FTQMFOEPSPTP DPOUSBTUF 8JMMZ QJOUÂ DPO USB[PT TFHVSPT DPO DPMPSFT KVCJMPTPT UP EP FM WJDUPSJPTP QBJTBKF DJSDVOEBOUF &M DJFMP QPEF SPTP Z DBNCJBOUF CBKP FM RVF QSFTJEF MB DPNQPTJ DJÂO VO DFSSJUP QJDVEP EFM RVF PUSP JOPMWJEBCMF QFSTPOBKF +PSHF EF MB 1FÁB -PNFM½O EFD½B RVF CJFO QPE½B TFS VOB QJS²NJEF SFDVCJFSUB QPS MB UJFSSB EF MPT BÁPT : MVFHP MMBOPT BSCPMFEBT DBNQPT EF MB CSBO[B DBTFS½PT GBOUBTNBMFT QPUSFSPT UPEBW½B JO UPDBEPT 5PUBM RVFEF BRV½ VO SFDVFSEP JNCPSSBCMF EF 8JMMZ "MESFUF -FHBSSFUB VO QFSEVSBCMF BHSBEF DJNJFOUP QPS FM QSJWJMFHJP EF DPOPDFS B VO IPNCSF CVFOP KVTUP QSÂEJHP FO TVT FOTFÁBO[BT Z TV HSBO UBMFOUP )JTUPSJBT EF MPT UBYJTUBT $PO GSFDVFODJB MB DPOWFSTBDJÂO DPO MPT TFÁPSFT EF MPT DPDIFT EF TJ UJP FT VOB UBO HSBUB FYQFSJFODJB MB GVFOUF EF JO WBMVBCMFT WJTMVNCSFT EF MB SJRVF[B IVNBOB RVF QVFEF FODFSSBSTF FO FM B[BS EF VO USBZFDUP MB DB WJMBDJÂO FO MPT JOFTQFSBEPT SFDVFOUPT EF VO IPNCSF IBTUB FOUPODFT BCTPMVUBNFOUF EFTDPOP DJEP {%FTDPOPDJEP EF WFSBT 1PSRVF FM FTQPO U²OFP EFTQMJFHVF RVF FM UBYJTUB B WFDFT IBDF DPO ²OJNP EFTQBSQBKBEP Z BNBCMF EF TV WJEB Z TVT QBSFDFSFT WVFMWF B TFS VO UFTUJNPOJP SFDPOGPS UBOUF EF TPMJEBSJEBEFT WJTJPOFT Z TFOUJNJFOUPT DPNQBSUJEPT RVF TPO MB GJCSB NJTNB EF MB DPNV OJEBE 3FDVFSEB IBDF FM SFMBUP FM UBYJTUB NJFO USBT TPSUFB DPO EFTUSF[B FM EFOTP US²GJDP i'VJ NPT USFDF EF GBNJMJB TFÁPS OBDJEPT FO .BO[BOJMMP .J NBESF OPT WJWF ZB WB QBSB FM TJ HMP Z NJ BCVFMB IBDF QPDP TF NVSJÂ DPO BÁPT 1VSPT IPNCSFT UPEPT EVSBNPT UPEBW½B Z ZP TPZ FM QFOÈMUJNP /PN²T UVWJNPT VOB IFSNB OB RVF TF NVSJÂ EF QJDBEVSB EF BMBDS²O NVZ DIJDB BMM² FO .BO[BOJMMP .J BCVFMB BMDBO[Â B WFS B MPT IJKPT EF TVT UBUBSBOJFUPT ZB WF GVJNPT TFJT HFOFSBDJPOFT VOB USBT PUSB WJWBT w "HSBEF DJEP FM RVF QBTB DVNQMF TV SFDPSSJEP TF EFTQJ EF DPOUFOUP TBCJFOEP BM NVOEP NFKPS &M UBYJT UB DPOPDF TFHVSBNFOUF MB FYQSFTJÂO

iÀ > ` Ê->Û>ÌiÀ )BDF NVDIPT BÁPT NJT QBESFT UFO½BO B TV TFSWJDJP VO KPWFO RVF DVN QM½B GVODJPOFT EF DIÂGFS Z NFD²OJDP 6O E½B MF OFDFTJUBSPO GVFSB EF TV IPSBSJP IBCJUVBM Z NJ NBESF MMBNÂ B MB QFOTJÂO FO RVF TF BMPKBCB /P SFDPSEBCB TV BQFMMJEP Z DPO TV IBCJUVBM FTUJMP DBSJÁPTP QFSP BMHP EFT QJTUBEP QSFHVOUÂ i1PS GBWPS {WJWF BI½ VO NVDIBDIP NFD²OJDP w -PT N²T KÂWFOFT EF MB GBNJMJB DPOTFSWBNPT EVSBOUF BÁPT MB FYQSFTJÂO iVO NVDIBDIP NFD²OJDPw DPNP VOP EF OVFTUSPT DIJTUFT QSJWBEPT 1VFT CJFO IPZ MPT NVDIBDIPT NFD²OJDPT IBO EFKBEP EF TFS VOB CSPNB :B IBZ EJTFÁBEPT NVDIPT NPEFMPT DBQBDFT EF BZVEBSOPT FO UBSFBT EF UPEP UJQP EPN¹TUJDBT MBCPSBMFT JODMVTP C¹MJDBT Z UBNCJ¹O EF TVTUJ UVJSOPT MMFHBEP FM DBTP MP RVF SFQSFTFOUB VO DJFSUP QFMJHSP &TBT JNJ UBDJPOFT BSUJGJDJBMFT EF MB WJEB QPTFFO CBTUBOUFT EF OVFTUSBT DBQBDJEB EFT JODMVTP NFKPSBEBT QFSP QBSFDF RVF OP UJFOFO BMHVOPT EF OVFTUSPT QFPSFT EFGFDUPT $MBSP RVF RVJ[² UFOHBO PUSPT EJTUJOUPT JNQSFWJTJCMFT Z RVF MMFHVFO B TFS MFUBMFT QBSB MPT IVNBOPT RVF OPT DSFFNPT TVT

ÕiÃÌÀ ÊÊ Àii « >â BNPT &O DVBMRVJFS DBTP FT QSFDJTP BMHVOB OPSNBUJWB QBSB MB GBCSJDB DJÂO Z DPOWJWFODJB DPO FTUBT OVFWBT DSJBUVSBT &O MB $PNJTJÂO +VS½ EJDB EFM 1BSMBNFOUP &VSPQFP TF IB QSFTFOUBEP VO EFUBMMBEP JOGPSNF RVF DVCSF TVT SFTQPOTBCJMJEBEFT DJWJMFT Z MFHBMFT MB QSJWBDJEBE EF MPT EBUPT RVF HVBSEBO Z IBTUB MB QPTJCJMJEBE EF DPCSBS JNQVFTUPT QPS TV VTP QBSB QBMJBS MBT WBDBOUFT MBCPSBMFT RVF DBVTBS²O FOUSF MPT IVNB OPT -P DVSJPTP EF FTF EPDVNFOUP BM NFOPT QBSB MPT BGJDJPOBEPT B MB MJUFSBUVSB GBOU²TUJDB Z MB DJFODJB GJDDJÂO FT RVF SFDVSSF B FMFNFOUPT EFM JNBHJOBSJP QPQVMBS &O TV QSF²NCVMP IBCMB EFM NJUP DIJQSJPUB EF 1JHNBMJÂO FM SFZ FTDVMUPS FOBNPSBEP EF MB FTUBUVB EF (BMBUFB B MB RVF TV EFTFP TFHÈO 0WJEJP MPHSÂ EBS WJEB &O MB 1SBHB NFEJFWBM Z IFCSFB OBDF MB MFZFOEB EF FM (ÂMFN RVF UJFOF OVNFSPTPT MJOLT MJUF SBSJPT FM N²T GBNPTP EF UPEPT MB OPWFMB EF (VTUBW .FZSJOL B DPNJFO [PT EFM TJHMP 99 1FSP VO TJHMP BOUFT .BSZ 8 4IFMMFZ QVCMJDÂ TV 'SBO

, -Ê Ê6 6 , , Ã>Ê ÌiÀ -B WJEB FT VOB TFMWB TBMWBKF Z QFMJHSPTB Z SF TVMUBO BENJSBCMFT RVJFOFT EFDJEFO QPOFSMF USBCBT B MB EFDBEFODJB Z QSFTFOUBSMF CBUBMMB DBEB E½B )BZ FO NJ CBSSJP VOB NVKFS EF BÁPT RVF WJWF TP MB Z TJFNQSF WB HVBQ½TJNB 7JTUF DPO QSJNPSPTB FMF HBODJB TF QFJOB Z NBRVJMMB B MB QFSGFDDJÂO Z DBNJ OB TBOEVOHVFSB TPCSF VOPT UBDPOB[PT DPO MPT RVF ZP TFS½B JODBQB[ EF EBS NFEJB EPDFOB EF QBTPT TJO EFTDBMBCSBSNF 5JFOF VO QFSSJUP EJNJOVUP BM RVF TBDB B QBTFBS CJFO QSPUFHJEP EF MPT GS½PT DPO BCSJ HPT NPO½TJNPT Z RVF USPUB BMFHSFNFOUF B TV MBEP MPT EPT UBO HBMMBSEPT UBO MJNQJPT UBO SBEJBOUFT 5BO BMFKBEPT EF MB JEFB EF MB WFKF[ NBSDIJUB EFTP SJFOUBEB Z EFWBTUBEPSB &TUB NVKFS FT VO NJMBHSP TV FOFSH½B Z TV GPSUBMF[B TPO JOIVNBOBT %FTEF MVFHP MB MPUFS½B HFO¹UJDB EFCF EF KVHBS VO QBQFM GVOEBNFOUBM FO FTUF USJVOGP QFSP OP DSFP RVF TF USBUF TÂMP EF FTP 1BSB MMFHBS B MPT BÁPT Z TBMJS B MB DBMMF BT½ UPEPT MPT E½BT IBDF GBMUB VOB UFOBDJEBE IFSPJDB $V²OUP WBMPS DV²OUP SFTQFUP B MB JEFB EF

3FUSBUP EF GBNJMJB TJO TFÁPSB 1PES½B TFS &M QBESF FODBCF[B VOB QSPDFTJÂO GPUPHS²GJDB RVF FM BSUJTUB EF MB D²NBSB QFOTÂ MB BEFDVBEB Z RVF JOF MVDUBCMFNFOUF SFDVFSEB FM US²OTJUP WJUBM EF MPT GJHV SBOUFT /P FTU² MB NBESF FO FM EFTGJMF Z QPS FTP WBO EF MVUP /BEJF TBC½B RVF MB ÈMUJNB EF MBT OJÁBT US² HJDBNFOUF IBCS½B EF BEFMBOUBSTF BM DPSUFKP &OUPO DFT UFO½BO QPS EFMBOUF MB WJEB DBEB RVJFO TVT B[B SFT BGBOFT Z EFTUJOPT %F BMHVOB NBOFSB FT FM SFUSBUP EF UPEBT MBT QSPHFOJFT RVF IBO TJEP &M JO WJTJCMF EJCVKP EF MB 1SPWJEFODJB IBCS½B EF HVJBS TVT QBTPT EJTQPOFS TVT TJOPT &M GPUÂHSBGP FOUSFHÂ VOB JNBHFO FWBOFTDFOUF Z QSFDJTB VOB NFU²GPSB EF UP EP MP RVF QBTB Z TF EJTVFMWF DPO VO I²CJM SFDVSTP EFM DVBSUP PTDVSP QSPWPDÂ RVF MB JNQSFTJÂO EJGVNJ OBSB TVT CPSEFT CPSSBSB TVT M½NJUFT "T½ MB QSPDF TJÂO GBNJMJBS MFWJUB FO VO FTQBDJP JOEFUFSNJOBEP BERVJFSF BUFNQPSBMJEBE SFWFMB MB JSSFNFEJBCMF MF WFEBE EF MB EVSBDJÂO IVNBOB 1FSP GVFSB EF DVB ESP FO PUSP UJFNQP PUSBT QSPHFOJFT WFOJEBT EF FTBT HFOUFT IBDFO UBNCJ¹O TVT WJEBT "MHVJFO EF DVBO EP FO WF[ NJSB FM SFUSBUP " MP MBSHP EF RVF MB WJEB WB QBTBOEP MPT MV HBSFT GBNJMJBSFT TF WBO QPCMBOEP EF GBOUBTNBT &M JOFMVDUBCMF US²GBHP EF MPT BÁPT Z MPT E½BT TF WB MMFWBOEP DPO USBJDJPOFSB PCDFDBDJÂO QSFTFO DJBT Z ²OJNPT JSSFQFUJCMFT HFTUPT Z USB[BT RVF EFKBSPO TV UFTUJNPOJP Z TV GVMHPS KJSPOFT EF MB FYJTUFODJB -B NVFSUF USBCBKB JODFTBOUF oEFNB TJBEP TF TBCF Z WB SFDPHJFOEP DPO GBUBM QVOUVB MJEBE MPT BMJFOUPT ÈMUJNPT EF MPT RVF QPS BRV½ QB TBO 5PDB FOUPODFT BM UBMMFS EF MPT EJCVKPT TFS EFTEF BIPSB FM MVHBS FO EPOEF RVFEBS² EFGJOJUJ WB F JNBOUBEB MB QSFTFODJB MB BQMJDBEB QVMDSJ UVE FM UBMFOUP Z FM FODBOUP EF VOB NVDIBDIB RVF

VOP NJTNP IBZ RVF UFOFS QBSB TFHVJS MFWBOU²OEP UF DBEB NBÁBOB EJTDJQMJOBEBNFOUF QBSB MBWBSUF Z NBRVJMMBSUF Z FTDPHFS UVT SPQBT DPO DPRVFUP DVJEB EP Z DBM[BSUF MPT [BQBUPT WFSUJHJOPTPT Z WFTUJS BM QF SSJUP DPO TVT BW½PT : UPEP FTP TPMB OVODB MB IF WJT UP BDPNQBÁBEB Z QBSB OBEB FT EFDJS QBSB UPEP QBSB FMMB NJTNB QBSB QPEFS NBOUFOFS MB EJHOJEBE .J WFDJOB NF SFDVFSEB B MPT FYQMPSBEPSFT CSJ U²OJDPT EFM TJHMP 9*9 BRVFMMPT RVF TF JOUFSOBCBO FO MBT QSPGVOEJEBEFT EF GSJDB FO MB UFSSB JODPH OJUB Z IPTUJM Z RVF FO NJUBE EF VOB TFMWB GFSP[ UP NBCBO FM U¹ B MBT DJODP FO QVOUP UPEBT MBT UBSEFT FO UB[BT EF QPSDFMBOB EF 8FEHXPPE Z DPO NBOUFM EF FODBKF 4F TVFMF DJUBS FTUB BO¹DEPUB DPNP FKFN QMP SJTJCMF EF DJFSUP UFNQFSBNFOUP JOHM¹T DPNP NVFTUSB EF IBTUB EÂOEF QVFEF MMFHBS MB DIJGMBEVSB Z MB JNQFSNFBCJMJEBE BOUF FM FOUPSOP QFSP ZP WFP FO FMMP BMHP HSBOEJPTP WFP FM FNQFÁP EF TFHVJS TJFOEP GJFM B VOP NJTNP QFTF B UPEP &T VO BG²O RVF BOJEB FO MPT IVNBOPT BM NBSHFO EF MB TJUVBDJÂO FO MB RVF OPT IBMMFNPT "ZFS NF DSVD¹ DPO VOB QBSF

B TV BMSFEFEPS EJCVKBCB DPO TV HSBDJB FM BJSF .PSHBOF EF UPJ DBODJPOFT QMBUJDBEBT &T VOB DPNQPTJDJÂO EF VO BVUPS GSBOD¹T 3FOBVE -MFHB BIPSB EFTEF FM DFOUSP EF MPT FODSFTQBEPT BÁPT PDIFOUB $PNCBUJWP UVSCVMFOUP TV DBSSFSB IB FT UBEP NBSDBEB QPS WFSUJHJOPTPT BMUJCBKPT QPS MPT UPSNFOUPT EFM QPUSP EFM BMDPIPM TFQBSBDJPOFT Z SFHSFTPT 6UJMJ[B DPO GSFDVFODJB VO BSHPU FTQFTP Z FYQSFTJWP Z FT EVFÁP EF VOB OPUBCMF BNQMJUVE EF SFHJTUSPT &M U½UVMP EF MB DBODJÂO EFM DBTP N²T P NF OPT QVFEF RVFSFS EFDJS NVZ IJQPU¹UJDBNFOUF 1JSBEP QPS UJ &TU² EFEJDBEB B TV IJKB FOUPODFT EF NVZ DPSUPT BÁPT 3FDVFOUB TVT QSJNFSBT WFDFT FO MB UJFSSB MB QSFWJFOF DPOUSB MBT BNFOB[BT EFM NVO EP MF DPNQBSUF MBT EFTWFOUVSBT EF MB WJEB QFSP UBNCJ¹O TV BNQMJUVE MF SFGSFOEB TVT JOWBSJBCMFT DVJEBEPT Z DBSJÁPT QPS FMMB 4FSHF (BJOTCPVSH HSBO BNJHP Z NBFTUSP EF 3FOBVE IJ[P VOB FOUSB ÁBCMF QFM½DVMB VO WJEFPDMJQ B QBSUJS EF FTUB DBODJÂO 6OB QMBZB FM DBOUBOUF VOB HP[PTB QBS WBEB EF OJÁPT VO DBCBMMP DPO VOB NVDIBDIB VO USBDUPS WBSBEP VOB CBMTB EFTEF MB RVF ZB TPMJUB SJP FM DBOUBOUF TJHVF SFQJUJFOEP FM FTUSJCJMMP -PMB OP TPZ N²T RVF VO GBOUBTNB DVBOEP WBT B EPOEF OP FTUPZ TBCFT NVDIBDIJUB FTUPZ QJSBEP QPS UJ &O GJO EFTEF MPT BÁPT PDIFOUB IBTUB MPT RVF DP SSFO MBT OJÁJUBT EF FTPT E½BT TJHVFO IBDJFOEP EF DJS MP NJTNP .PSHBOF EF UPJ #BVEFMBJSF &T MB /BUVSBMF[B VO UFNQMP EPOEF WJWJFOUFT QJMBSFT %FKBO B WFDFT TBMJS DPOGVTBT QB MBCSBT &M IPNCSF QBTB BMM½ B USBW¹T EF CPTRVFT EF T½NCPMPT 2VF DPO NJSBEBT GBNJMJBSFT MP PCTFSWBO KQBMPNBS!JOGPSNBEPS DPN NY

LFOTUFJO RVF B USBW¹T EFM DJOF EPUÂ EF TV SPTUSP N²T SFDPOPDJCMF BM IPNCSF BSUJGJDJB &M OPNCSF SPCPU MP BDVÁP PUSP DIFDP ,BSFM $BQFL FO TV QJF[B UFBUSBM 3 6 3 VOB T²UJSB GVUVSJTUB &OUSF MPT BVUPSFT NP EFSOPT EF DJFODJB GJDDJÂO EFTUBDB FM HSBO *TBBD "TJNPW RVF FO VOP EF TVT DVFOUPT QSPNVMHÂ MBT USFT MFZFT EF MB SPCÂUJDB i 6O SPCPU OVODB DBVTBS² EBÁP B VO TFS IVNBOP OJ QFSNJUJS² DPO TV JOBDDJÂO RVF MP TVGSB 6O SPCPU TJFNQSF DVNQMJS² MBT ÂSEFOFT EF VO TFS IVNBOP TBMWP RVF FOUSFO FO DPOUSBEJDDJÂO DPO MB QSJNFSB MFZ 6O SPCPU IBS² DVBOUP QVFEB QBSB QSFTFSWBS TV WJEB TBMWP RVF FO USF FO DPOUSBEJDDJÂO DPO MBT EPT MFZFT BOUFSJPSFTw &M JOGPSNF FV SPQFP SFDPHF FTUBT MFZFT QFSP MPT EFTDPOGJBEPT QBSMBNFOUBSJPT JO TJTUJFSPO FO RVF DBEB SPCPU UVWJFTF QPS TJ BDBTP VO iCPUÂO EF MB NVFSUFw QBSB EFTBDUJWBSMP EFGJOJUJWBNFOUF &O DVBMRVJFS DBTP OP EFKB EF TFS DVSJPTP Z TJNQ²UJDP RVF FO FM EFNBTJBEP GPSNBM ²NCJ UP EF MB &VSPD²NBSB IBZBO TPOBEP MPT OPNCSFT EF 'SBOLFOTUFJO P "TJNPW 6OB QFRVFÁB SFWBODIB EF VO H¹OFSP MJUFSBSJP DPOTJEFSB EP iNFOPSw QFSP DVZBT NFKPSFT PCSBT IBO UFOJEP VO JNQBDUP DVM UVSBM NBZPS RVF NVDIPT QSFNJPT /PCFM 'FSOBOEP 4BWBUFS Ï '&3/"/%0 4"7"5&3 &%*$*0/&4 &- 1"¡4 4-

1 >ÊÌ>â>Ê`iÊÌjÊÊ «>À>ÊÃ> Û>À Ã KB EF BODJBOPT MB NVKFS JCB FO TJMMB EF SVFEBT Z NPT USBCB FTB NJSBEB JODJFSUB EF RVJFO FTU² TPMUBOEP BNBSSBT EF FTUF NVOEP M TJO EVEB TV NBSJEP UF O½B VOB FEBE QBSFDJEB QFSP TF MF WF½B NVZ DBQB[ Z EF IFDIP FNQVKBCB MB TJMMB DPO TPMUVSB &MMB JCB DP NP VOB SFJOB BMHP BUÂOJUB QFSP NBKFTUVPTB FO WVFMUB FO VO BCSJHP EF QJFMFT Z BGFSSBEB B TV CPMTP OFHSP EF DIBSPM FM U½QJDP CPMTP EF MBT BCVFMBT .F FOUFSOFDJÂ FM DVJEBEP DPO FM RVF BMHVJFO MB IBC½B BSSFHMBEP UBO CJFO FM QFJOBEP MB CVGBOEB *NBHJ O¹ B TV NBSJEP E²OEPMF BOUFT EF TBMJS MB DBSUFSB EF DIBSPM FTF PCKFUP UPUBMNFOUF JOÈUJM QBSB FMMB B FT UBT BMUVSBT QFSP BM RVF MB NVKFS TF BHBSSBCB DPNP VO O²VGSBHP BM ÈOJDP NBEFSP DPNP VO FYQMPSBEPS B TV UB[B EF DIJOB DPNP VO OJÁP B TV NFKPS KVHVF UF 4FHVSP RVF MB BODJBOB DPOTFSWBCB FO BMHÈO SJO DÂO EF TV DBCF[B FM FDP EF MP RVF MF HVTUÂ FTF CPM TP FT EFDJS FM WBHP SFDVFSEP EF MP RVF FMMB GVF NJFOUSBT MP VTBCB -B WJEB QPSG½B QPS TFHVJS WJWJFO EP JODMVTP FO BRVFMMPT RVF ZB GVFSPO EFSSPUBEPT

)BZ VO QSFDJPTP EPDVNFOUBM RVF OPT IBCMB EFM BOJNBM UFOB[ RVF OPT IBCJUB 4F UJUVMB &UFSOPT EVSB NJOVUPT Z MP SPEÂ (PO[BMP (VSSFB IBDF VO QBS EF BÁPT BVORVF BIPSB MP BDBCB EF DPMHBS FO *OUFSOFU FT U² FO WJNFP DPN 5SBUB EFM HFOJBM FTUVEJP RVF IJ[P +PT¹ "OUPOJP 4FSSB KFGF EF HFSJBUS½B EFM (SF HPSJP .BSBÁÂO KVOUP DPO "MFKBOESP -VD½B DBUFES²UJ DP EF 'JTJPMPH½B EFM &KFSDJDJP EF MB 6OJWFSTJEBE &VSP QFB Z RVF DPOTJTUJÂ FO DPHFS B BODJBOPT FOUSF MPT Z MPT BÁPT Z QPOFSMPT B IBDFS FKFSDJDJP FO VO HJN OBTJP USFT WFDFT B MB TFNBOB EVSBOUF EPT NFTFT QF TBT BQBSBUPT CJDJDMFUB 1BSFDF VO EJTQBSBUF QFSP GVF VO ¹YJUP /P TF MFTJPOÂ OJOHVOP Z UPEPT NFKPSBSPO TV DBQBDJEBE NPUPSB Z TV DBMJEBE EF WJEB &M EPDVNFO UBM NVFTUSB TV FOUVTJBTNP MB BWJEF[ DPO MB RVF TF BGF SSBO B VOB PQDJÂO RVF MPT SFTDBUB EF MB NFMBODPM½B OP OBHFOBSJB FM FTGVFS[P DPO FM RVF JOUFOUBO SFDVQFSBS BMHP EF MP RVF VO E½B GVFSPO : MP NFKPS FT RVF MB JO WFTUJHBDJÂO EFNVFTUSB RVF VOP QVFEF QPOFSMF DJFSUBT USBCBT B MB EFDBEFODJB BVORVF QBSB FTP IBZB RVF QSF TFOUBSMF CBUBMMB DBEB E½B -B WJEB FT VOB TFMWB TBMWBKF Z QFMJHSPTB VO UFSSJUPSJP EFTDPOPDJEP DBEB WF[ N²T BTGJYJBOUF Z FO OVFTUSB USBWFT½B DPOWJFOF QSFQBSBSTF FM U¹ UPEBT MBT UBSEFT &TQFSP TFS DBQB[ EF IBDFSMP DP NP MP IBDF NJ BENJSBCMF WFDJOB Ï 304" .0/5&30 &%*$*0/&4 &- 1"¡4 4- 5PEPT MPT EFSFDIPT SFTFSWBEPT


1~(*/" #

&- */'03."%03 &- */'03."%03

Ê /1, -ÊÊ 6 , >À >Ê*> >À

.BS½B .PMJOFS &M EF NBS[P NJ¹SDPMFT EF DFOJ[B TF DVNQMFO DJODVFOUB BÁPT EF MB QVCMJDBDJÂO EFM %JDDJPOBSJP EF VTP EFM FTQBÁPM EF .BS½B .PMJ OFS -B #JCMJPUFDB /BDJPOBM EF &TQBÁB DFMFCSBS² MB NF NPSJB EF MB GJMÂMPHB Z MFYJDÂHSBGB DPO VO BDUP TPMFNOF Z MB QBSUJDJ QBDJÂO EF NJFNCSPT EF MB 3"& NÈTJDPT Z BDUPSFT 4FOUBEB GSFOUF B MB NFTB EFM DPNFEPS Z TJO OJOHVOB DMBTF EF CF DB P TVCTJEJP .BS½B .PMJOFS BDPNFUJÂ B QSJODJQJPT EF MB E¹DBEB EF MB FNQSFTB EF SFEBDUBS TV EJDDJPOBSJP DVZP QSJNFS WPMVNFO TBMJÂ FO Z FM TFHVOEP VO BÁP EFTQV¹T QPS MB FEJUPSJBM (SFEPT Z HSBDJBT BM SFTQBMEP EF %²NBTP "MPOTP &M NJTNP TFMMP QVCMJDB BIP SB MB DVBSUB FEJDJÂO EF MB PCSB BNQMJBEB DPO N²T EF FOUSBEBT OVFWBT RVF EBO VO UPUBM EF (BSD½B .²SRVF[ FTDSJCJÂ RVF i.B S½B .PMJOFS IJ[P VOB QSPF[B DPO NVZ QPDPT QSFDFEFOUFT FTDSJCJÂ TPMB FO TV DBTB DPO TV QSPQJB NBOP FM EJDDJPOBSJP N²T DPNQMFUP

9 ,ÊÊ

"-

>À ÃÊ À }Õi

$VBOEP WPMWJÂ FO SB[ÂO Z QVEP BTVOUBS TF FODPOUSB CB FO TV DBNJPOFUB MB DVBM NBOFKBCB VO TVKFUP RVF FM SBUÂO OP DPOPD½B Z RVF UBNCJ¹O BOEBCB BMDPIPMJ [BEP VO QPDP TPSQSFOEJEP MF QSFHVOUP {" EÂOEF WBNPT /P T¹ EJKP FM RVF NBOFKBCB Z BHSFHÂ QF SP MMFWBNPT NVZ CVFO UJFNQP "M SBUP MMFHBSPO B MB 1SFTB EF $BUPSDF EPOEF FODPOUSBSPO VO EFT WFODJKBEP NBSJBDIJ RVF MFT PGSFDJÂ UPDBS B DJODP QFTPT MB QJF[B )BZ RVF EFDJS RVF FM SBUÂO RVFS½B JSTF B TV DBTB FO UBOUP RVF FM SFDJ¹O BERVJSJEP DIPGFS RVFS½B TF HVJSMB Z TF QSFQBSBCB B QFEJS DBODJPOFT Z DPOUJOVBS MB GBSSB FM SBUÂO DBOTBEP UPNP MBT MMBWFT EF MB DBNJP OFUB TFÁBMBOEP TV DMBSB JOUFODJÂO EF QBSUJS Z E²O EPMF BM KFGF EF MPT GJMBSNÂOJDPT VO CJMMFUF EF DJFO QF TPT NJFOUSBT MF EFD½B 5PRVF BVORVF OP FTUFNPT /P RVJTJFSB DPOUBSMFT MB MMFHBEB B TV DBTB B EPO EF BSSJCÂ UPEBW½B FO FTUBEP EF FCSJFEBE Z UPDBEP DPO FM TPNCSFSP EF VOP EF UBO FDPOÂNJDPT NBSJBDIJT RVF VTUFEFT JNBHJOBS²O FM FTUBEP HFOFSBM $BZÂ DP NP CVMUP FO TV DBNB RVFEBOEP FM TPNCSFSP FO FM TVFMP /P OFDFTJUBNPT EF DPOPDJNJFOUPT FTQFDJBMFT QBSB FOUFOEFS RVF MB TFÁPSB FTUBCB N²T RVF JOEJH OBEB BCTPMVUBNFOUF GVSJPTB FTQFSBCB B TV FTQPTP KVSBEP Z TPCSJP Z MP SFDJCJÂ CSJBHP Z FO GBDIBT BOUF MB JNQPUFODJB OP TF MF PDVSSJÂ OBEB N²T RVF QBUFBS FO TPNCSFSP Z DVBOEP UPNBCB WVFMP QBSB QBUFBSMP NJFOUSBT FM SBUÂO UBSBSFBCB FM KBSBCF UBQBU½P &M TJHVJFOUF E½B MB SFHBÁBEB GVF NFNPSBCMF OB EJF QPES½B FTQFSBS NFOPT MB TFÁPSB FTUBCB DPO UP EB SB[ÂO FO FM OJWFM N²YJNP EF GVSJB Z IBZ RVF EF DJSMP FM SBUÂO FTUBCB BQFOBEP ZB RVF OP MF HVTUBCB NPMFTUBS 'VFSPO JOÈUJMFT UPEBT MBT QSPNFTBT EF DBN CJP EF OVFWPT KVSBNFOUPT Z EF OVFWBT DPOEVDUBT

%PNJOHP EF GFCSFSP EF

/ÀiÃÊ`iÊiÃVÀ ÌÕÀ> N²T ÈUJM N²T BDVDJPTP Z N²T EJWFSUJEP EF MB MFOHVB DBTUFMMBOBw "OUIPOZ #VSHFTT &M EF GFCSFSP TF DVNQMJFSPO DJFO BÁPT EFM OBDJNJFOUP EF VOP EF MPT N²T HSBOEFT FTDSJUPSFT JOHMFTFT EFM TJHMP 99 "OUIPOZ #VS HFTT RVF NVSJÂ FO )BTUB RVJFOFT OP MFFO IBCS²O P½EP IBCMBS EF TV OPWFMB -B OBSBOKB NFD²OJDB " $MPDLXPSL 0SBOHF HSB DJBT B MB QFM½DVMB EFM NJTNP OPNCSF EJSJHJEB FO QPS 4UBOMFZ ,V CSJDL /BDJEP FO .BODIFTUFS FO VOB GBNJMJB DBUÂMJDB EF DMBTF USBCB KBEPSB #VSHFTT EFTDPMMÂ QPS TVT UBMFOUPT QBSB MB NÈTJDB Z MB QBMBCSB FTDSJCJÂ N²T EF WFJOUF OPWFMBT Z NVDIBT DPNQPTJDJPOFT NVTJDBMFT QFSP UBNCJ¹O FOTBZP TPCSF UFNBT MJUFSBSJPT 1SPCBCMFNFOUF TV NF KPS OPWFMB TFB 1PEFSFT UFSSFOBMFT &BSUIMZ 1PXFST USBEVDDJÂO BM FTQBÁPM FO &M "MFQI #VSHFTT WJWJÂ FO FM TVSFTUF EF "TJB IBCMBCB NBMBZP Z SVTP JOWFOUÂ VO JEJPNB QSPQJP QBSB -B OBSBOKB NFD²OJDB

Ê V> `iÊÊ ÓÊ`iÊÓ FSB VO TVKFUP TJO MB NFOPS DSFEJCJMJEBE "M E½B TJHVJFOUF FM FOPKP DPOUJOVBCB Z MB QBSF KB SFDJCJÂ VOB JOWJUBDJÂO B VOB SFVOJÂO EF VOPT WF DJOPT EFTEF MVFHP MB TFÁPSB EFDJEJÂ OP BTJTUJS Z MF NBOJGFTUÂ BM SBUÂO RVF OP QPE½B BDFQUBS EBEP RVF ¹M OP FSB VO TVKFUP FO RVF QVEJFSB DPOGJBSTF QPS TV BM DPIPMJTNP FM SBUÂO TVQMJDÂ TF IVNJMMÂ IBTUB RVF DPO WFODJÂ B TV NVKFS EF RVF MF EJFSB VOB ÈMUJNB PQPSUV OJEBE Z MB DPOWFODJÂ EF NPEP RVF DPOGJSNBSPO TV BTJTUFODJB B MB SFVOJÂO &M FTDFOBSJP EF FTUB FSB VOB DBTB USBEJDJPOBM MB HVFOTF DPO WFOUBOBT WFSUJDBMFT EF EPT IPKBT DPO GSFOUF B MB DBMMF FM SBUÂO TÈQFS BEWFSUJEP OP SFTQJ SBCB OJ GVFSUF Z EF CFCFS OJ IBCMBS TPMP BHVB GSFTDB EFDJEJÂ TFOUBSTF FO FM RVJDJP EF MB WFOUBOB Z TFS BNB CMF MP RVF OP MFT DPTUBCB USBCBKP "TJTU½B B MB SFVOJÂO VO TVKFUP BM RVF MF EJFSPO HBOBT EF FDIBSTF VO QFEP QBSB MP DVBM TF BDFSDÂ B MB WFOUBOB Z FNJUJÂ VO HBT &M SBUÂO MP PMJÂ MP FTDVDIÂ Z OP EJKP OBEB 1PDP UJFNQP EFTQV¹T FM TVKFUP SFGFSJEP WPMWJÂ B TFOUJS MB OFDFTJEBE Z EF OVFWP TF EJSJHJÂ BM WFOUBOBM QFOTBOEP RVF FO FTF MVHBS TFS½B NFOPS FM FGFDUP EF TV BDUP EF NPEP RVF WPMWJÂ B BDFSDBSTF Z EF OVFWP Z EF OVFWP TF QFZÂ &M SBUÂO EF OVFWP MP PZÂ MP PMJÂ Z OP EJKP OBEB &M QFEPSSP TF TJOUJÂ FO DPOGJBO[B Z QFOTÂ SFQF UJS MB TVFSUF QPS MP RVF EF OVFWP TF BDFSDÂ B MB ÈOJ DB WFOUBOB QFSP FTUB WF[ TF TJOUJÂ FO MB PCMJHBDJÂO EF EFDJS BMHP Z BTPN²OEPTF DPNP TJ WJFTF FM DJFMP BOUFT EF QFFSTF DPNFOUP 1BSFDF RVF WB B MMPWFS B MP RVF FM SBUÂO ZB OP SFTJTUJÂ DPNFOUBS : QPS MPT BJSFT RVF DPSSFO WB B MMPWFS NJFSEB !DBSMPTNPSTB

Z GVF BTJEVP DPMBCPSBEPS DPNP DS½UJDP MJUFSBSJP Z NVTJDBM EF MB ##$ Z EJTUJOUPT QFSJÂEJDPT EFM 3FJOP 6OJEP 4BOUJBHP EF .PSB 'JHVFSPB " QSJODJQJPT EF GFCSFSP EPO 4BOUJBHP EF .PSB 'JHVFSPB BOVO DJÂ FO TV CMPH RVF EFTQV¹T EF OVFWF BÁPT EF BMJNFOUBSMP DPO TV QSPTB DVJEBEB Z TVT NVDIPT DPOPDJNJFOUPT IBS² VOB QBVTB QBSB EFEJDBSTF B UFSNJOBS VO MJCSP RVF UJFOF ZB FNQF[BEP " TVT BÁPT FTUF WJFKP EJQMPN²UJDP RVF SFQSFTFOUÂ B &TQBÁB FO .BVSJUBOJB 'SBODJB %JOBNBSDB Z MB (SBO #SFUBÁB Z GVF EJSFDUPS EFM *OTUJUVUP $FSWBOUFT BDBCB EF SFOVODJBS FO FOFSP B TV ÈMUJNB FODPNJFOEB DPNP &NCBKBEPS EF &TQBÁB QBSB MB %JQMPNBDJB $VMUVSBM &TDSJCF RVF OP FT RVF GVFSB VO USBCBKP BHPCJBOUF QFSP RVF iT½ NF TJFOUP BIPSB N²T MJCSF QBSB EFDJS MP RVF QJFOTP F JODMVTP QFOTBS MP RVF EJ HPw 0KBM² OP TFB EFNBTJBEP QSPMPOHBEB MB BVTFODJB EF TV CMPH Z MBSHB Z QSPEVDUJWB WJEB B VO FTDSJUPS QVMDSP Z BNFOP ZB DPO VOB CVFOB EFDFOB EF MJCSPT FO TV IBCFS 5BNCJ¹O FT VO HSBO EFGFOTPS EFM NFEJP BNCJFOUF Z MJCSB BÁP DPO BÁP VOB MVDIB FODBSOJ[BEB DPO USB MPT JODFOEJPT GPSFTUBMFT IUUQ NBSRVFTEFUBNBSPO CMPHTQPU NY IBTUB QSPOUP IUNM DPNNFOU GPSN

6 - $ ÊÊ 9Ê - $

>À ÃÊ ÀÌjÃÊ6?âµÕiâ

* >Ì>Ê Ê« &T FM KVFHP DVMUVSBM EF I¹SPFT Z WJMMBOPT BM RVF FO FM FYUSFNP BMFEBÁP EFM DSJNFO FO TV FYUFO B UPEPT FYQPOF FO FM EJBSJP BDPOUFDFS EFTEF TB PSHBOJ[BDJÂO -B DBSFODJB EF SFDVSTPT QSFTVQVFTUBMFT TV VOB JOGSBDDJÂO EF BQBSJFODJB TJNQMF FO FM USBT MBEP DPNP QFBUÂO P DPOEVDUPS 2VFEB FO TFSJP GJDJFOUFT OP BMDBO[BCMFT SFQSFTFOUB FM QSJNFS DVFTUJPOBNJFOUP MB DPOWJDDJÂO Z FM PSHVMMP BT½ PCTU²DVMP QBSB MB FEJGJDBDJÂO EF VO DVFSQP QP DPNP MB EJHOJEBE QSPQJB P DPMFDUJWB -B EJDPUP MJDJBM FGJDJFOUF FO FM ²NCJUP SVSBM Z VSCBOP &M N½B SFTJEF FOUSF FM TFS Z TV RVFIBDFS DPO EFT QPMJD½B SFDJCF DBQBDJUBDJÂO JOTVGJDJFOUF Z FO QSFDJP B MB BEWFSUFODJB EFM DPOPDJNJFOUP Z MB NVDIPT DBTPT UBNCJ¹O FO MP FDPOÂNJDP QBSB MB EPUBDJÂO EF MPT NFEJPT EF TVCTJT IPOFTUJEBE SFQSPCBS FO EVEB UF UFODJB EJHOB B TV GBNJMJB &M USJTUF NPS QBEFDJNJFOUP NBSHJOBOEP BDUJUVE DPOTUSVDUJWB DPO FM DPSSFT >ÊV>Ài V >Ê`iÊÀiVÕÀà ÃÊ Z BNQMJP QBOPSBNB DPNQSFOEF MB FEVDBDJÂO Z TFOUJEP EF QFSUFOFO QPOEJFOUF BQSFDJP B MPT %FSFDIPT «ÀiÃÕ«ÕiÃÌ> iÃÊ DJB JOEJWJEVBM USBOTNJUJEP B MPT JO 4PDJBMFT Z QPTUFSJPS SFQBSBDJÂO GBOUFT {BDBTP MPT OJÁPT QVFEFO BM EFM EBÁP QPS FM EFTDPOPDJNJFOUP ÃÕv V i ÌiÃ]Ê Ê CFSHBS PSHVMMP EF UFOFS VO QBESF DPOFDUJWP &T FWJEFOUF FO FM EJBSJP USBT > V> â>L iÃ]ÊÀi«ÀiÃi Ì>Ê NJFNCSP EF MB QPMJD½B TV QFOVSJB MBEP QFSTPOBM MB EJTDJQMJOB DPOTJT i Ê«À iÀÊ LÃÌ?VÕ Ê«>À>Ê FT JOUFHSBEPSB EF VO FOUPSOP DPO QPUFODJBM JHOPSBODJB Z SFDIB[P B UFOUF DPO QFSNBOFOUF BQPSUBDJÂO >Êi` v V>V Ê`iÊÕ Ê OPSNBT Z QSPDFEJNJFOUPT KVS½EJDPT EF DPOGJBO[B B MB QSVEFODJB Z IBT UB MB QSPQJB UPMFSBODJB BM DPOTJEF VÕiÀ« Ê« V > Êiv V i Ìi GPSNVMBEPSFT EF NFKPS½B JOUFHSBM EF MB TPDJFEBE SBS EVEB UFNPS Z EPMPS QSPEVDJEP &T BT½ DPNP EFTEF FM US²OTJUP QPS BMHÈO TJOJFTUSP "IPSB NJTP BM TBMJS EF DBTB P SFDJOUP MBCPSBM FT DPNQSPCBCMF EJBSJP NVFTUSB MB DBSFODJB EF DJWJTNP DPO FY MB JOEJTDJQMJOB Z EFTQSFDJP B MPT TFÁBMBNJFOUPT UFOTJÂO B MBT BDUJWJEBEFT EPN¹TUJDBT FO FM IP HBS Z ²SFB MBCPSBM EPOEF IBZ EFTQSFDJP BM WB QSFDVSTPSFT TFHVSJEBE %FTEF PUSP ²OHVMP FT DVFTUJÂO EF JNBHFO MPS RVF SFQSFTFOUB MB QBSUJDJQBDJÂO DPOEVDFOUF FM OP DBFS FO MB JNQSVEFODJB RVF EJBSJBNFOUF B WJEB QBD½GJDB Z USBORVJMB BMFEBÁBT B JOTFHV DPOTJHOBO MPT NFEJPT EF DPNVOJDBDJÂO NBTJWB SJEBE QSPQJDJBOEP EFTEF FM BTBMUP DBMMFKFSP SF DPO SFQPSUF EF W½DUJNBT NVDIBT GBUBMFT QBSB TJEFODJBM P MBCPSBM TJO DPOUBS DPO FM SFTQBMEP MBT RVF SFTVMUB JOÈUJM MB FYQSFTJÂO EF DVMQBCJMJ DVBMJUBUJWP EF QPMJD½B DPOGJBCMF DBQBDJUBEB Z EBE Z MB BDVNVMBDJÂO EF DJGSBT &O FTF DPOUFY EJHOBNFOUF SFUSJCVJEB BUSJCVUPT RVF MF PUPS UP TF BEWJFSUF MB QSFTFODJB EFM EJDIP iQMBUB P HVFO PSHVMMP EF QFSUFOFODJB DPO FOUSFHB BM DP QMPNPw RVF BCSF FTQBDJP B MB DPNQMJDJEBE EF MB NFUJEP PUPSHBEP QPS MB TPDJFEBE 3FTVNFO UP BVUPSJEBE FO DVZP QSJNFS QMBOP TF FODVFOUSB EPT DPOGPSNBNPT MB SVUB IBDJB VOB TPDJFEBE FM WJHJMBOUF QPMJD½B DPO SFNVOFSBDJÂO Z DBQB EJHOB %JPT OPT HVBSEF EF MB EJTDPSEJB DJEBE EF FWJEFOUF NFEJPDSJEBE FO FM PSEFO WJBM Z N²T RVF FYQPOF TV JOUFHSJEBE G½TJDB DPO SF TJDQN!JOGPSNBEPS DPN NY DVSSFODJB B MB TJNQMF HSBUJGJDBDJÂO NPSEJEB P

"-Ê " ", -ÊÊ

Ê/ *"

À > ` Ê â? iâÊ ÃV Ì

iÌi iÀÊ >Ê }À>V &M TFS IVNBOP OBDJÂ NJHSBOUF Z MP GVF QPS NJ TFHVOEB NJUBE EFM TJHMP 99 DVBOEP MBT DPOEJ MFT EF BÁPT EFTEF MPT SFNPUPT UJFNQPT FO RVF DJPOFT FDPOÂNJDBT EFM QB½T GVFSPO NPTUSBOEP MBT GSPOUFSBT TF MMFWBCBO B DVFTUBT IBTUB RVF MB MP EJG½DJM RVF FSB BVO USBCBKBOEP FO TFSJP QP JOWFODJÂO EF MB BHSJDVMUVSB GJODÂ MPT M½NJUFT FO EFS QSPHSFTBS SFBMNFOUF $JFOUPT EF NJMFT EF UPSOP B MBT UJFSSBT DVMUJWBEBT "HSJDVMUVSB BSUF NFYJDBOPT IVZFSPO QS²DUJDBNFOUF EF VO GVUV TBO½B FYDFEFOUFT Z QPS FOEF DPNFSDJP GPSUBMF SP NJTFSBCMF IVZFSPO EF VO QB½T EÂOEF TPMB DJFSPO GBNJMJBT USJCVT Z DMBOFT IBDJFOEP TVSHJS NFOUF MB DBTUB QPM½UJDB EF QSJNFS OJWFM TF IBD½B FTUBEPT QSJNJHFOJPT RVF BTFHVSBTFO MPT CJFOFT NJMMPOBSJB DBEB USFT P TFJT BÁPT {: RV¹ MMFWB Z MBT WJEBT MBT SVUBT EF MB WFOEJNJB Z MB UFOUB CBO BM FYUSBOKFSP 4PMBNFOUF TVT JMVTJPOFT TVT DJÂO EF MB DPORVJTUB BG²O DPODPNJUBOUF B MB QSJ HBOBT EF USBCBKBS QPSRVF B WFDFT OP MMFWBCBO EF FTUB OBDJÂO OJ TJRVJFSB VO BEF WBUJ[BDJÂO EF MB UJFSSB DVBEP CBHBKF FEVDBUJWP RVF MFT 1FSP UBNCJ¹O EFTEF FM QSJODJ QFSNJUJFSB BQSPWFDIBS MBT PQPSUV QJP IVCP PUSB NJHSBDJÂO MB EF MPT ÃÊ iÝ V> ÃÊ > Ê OJEBEFT RVF VO QB½T EFTBSSPMMBEP IPNCSFT BWFOUVSFSPT Z PTBEPT JO RVJFUPT BOUF MPT IPSJ[POUFT EFTDP }À>` Ê>Ê ÃÌ>` ÃÊ QPE½B CSJOEBSMFT EF BI½ RVF NV DIPT MVFHP EF BÁPT EF WJWJS BMM² OP OPDJEPT Z EFDJEJEPT B GSBORVFBSMPT DPO FM BOIFMP EF DPOPDFS DJFMPT 1 ` ÃÊ`iÃ`iÊi ÊÃ } Ê8 8Ê IBC½BO UPEBW½B BQSFOEJEP FM JEJP OVFWPT Z UJFSSBT OVFWBT PUSBT HFO « ÀÊ` ÛiÀÃ>ÃÊV>ÕÃ>Ã\Ê NB P BDBCBSBO EJMBQJEBOEP FM GSV UP EF TV FTGVFS[P 0USPT NVDIP UFT Z PUSBT DVMUVSBT OP OFDFTBSJB ÕÞi ` ÊV Ê >ÃÊ>ÀV>ÃÊ NFKPS EPUBEPT MPHSBSBO VO WFSEB NFOUF JOUFSFTFT EF TPCSFWJWFODJB P EF QSPHSFTP `iÊ >Ê >V ]ÊLÕÃV> ` Ê EFSP EFTBSSPMMP FO UPEPT MPT ²NCJ UPT EF DVBMRVJFS NPEP UPEPT IBO -PT NFYJDBOPT IBO NJHSBEP B «À ÌiVV °°° DPOUSJCVJEP MP NJTNP BM QSPHSFTP &TUBEPT 6OJEPT EFTEF FM TJHMP 9*9 EF &TUBEPT 6OJEPT RVF EFTEF MVF QPS EJWFSTBT DBVTBT IVZFOEP DPO HP Z TPCSF UPEP B MB TPCSFWJWFODJB MBT BSDBT EF MB OBDJÂO CVTDBOEP QSPUFDDJÂO Z QBHBOEP QPS FMMB QBSB WFOEFS P EJHOB EF TVT GBNJMJBSFT RVF TF RVFEBSPO FO .¹ DPNQSBS NFSDBOD½B P QPS FM TJNQMF HVTUP EF DP YJDP FTQFSBO[BEPT FO MBT SFNFTBT "M HPCJFSOP NFYJDBOP MB TPMVDJÂO iCSBTF OPDFS iFM PUSP MBEPw .VZ QPTUFSJPSNFOUF MP IBO IFDIP FO CVTDB EF MBT MFH½UJNBT PQPSUVOJEBEFT SPTw MF WJOP NVZ CJFO MPT MJCFSBCB EF UFOTJPOFT EF QSPHSFTBS RVF FO TV QSPQJP QB½T OP IBO FO TPDJBMFT EF GVFS[BT Z NPWJNJFOUPT RVF QVEJF DPOUSBEP GFOÂNFOP FTQFDJBMNFOUF BDFOUVBEP B SBO PSJMMBSMPT Z FOGSFOUBSMPT DPO TV GBMUB EF DB MP MBSHP EFM TJHMP 99 B WFDFT B DPOWFOJFODJB EF QBDJEBE Z SFTQPOTBCJMJEBE QBSB PGSFDFS FO FTUF &TUBEPT 6OJEPT DPNP GVF EVSBOUF MBT HVFSSBT QB½T MBT PQPSUVOJEBEFT RVF EFC½B MB HFOUF CVT NVOEJBMFT B WFDFT B DPOWFOJFODJB EF .¹YJDP DBS FO PUSP 'VFSPO NVDIPT BÁPT EF BUFOFSTF B &WFOUVBMNFOUF JSTF QBSB BMM² TF DPOWJSUJÂ FO VOB FTB GÂSNVMB Z IBTUB EF TBDBS QSPWFDIP EF FMMB FTQFDJF EF DVMUVSB SVSBM IVCJFTF P OP IVCJFTF QFSP OBEB RVF FGFDUJWBNFOUF IJDJFSBO QBSB NF OFDFTJEBE FDPOÂNJDB QBSB IBDFSMP QPSRVF TF UF KPSBS OVFTUSBT DPOEJDJPOFT QPS FTP BIPSB FTU²O O½BO QBSJFOUFT iQPDIPTw IPZ MMBNBEPT iDIJDB BUFSSBEPT QPSRVF OPT FTU²O BMFKBOEP EF MB iHB MMJOB EF MPT IVFWPT EF PSPw Z UBM WF[ QPS BD² OP OPTw P QPS FM HVTUP EF JSTF F JSTF KVTUP BMM² $POGPSNF FM iNJMBHSP NFYJDBOPw DPNFO[Â TJHB IBCJFOEP N²T RVF iHVBKPMPUFTw B EFCJMJUBSTF FM TVFÁP BNFSJDBOP TF GVF GPSUB BSNBOEP HPO!VOJWB NY MFDJFOEP DBEB WF[ N²T QBSUJDVMBSNFOUF FO MB


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.