Tapatío 13 de noviembre de 2016

Page 1

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

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

"º0 $ /Á.&30

/05*.&9

#

4&$$* /

53"4 -" .6&35& %& -&0/"3% $0)&/ &- i$"#"--&30 %& -" .Á4*$"w 3&$03%".04 46 $0/&9*»/ &/53& ".²3*$" : &41"º" 1ÈHJOB TFJT

?Q=@ANJK @A HA?PQN=

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

(6"%"-"+"3" +"- %0.*/(0 %& /07*&.#3& %&

$035&4¶"

*%&"4 RVF SFWPMVDJPOBO " TVT B¨PT -VJT .BSJP (PO[ MF[ 7FOFHBT FT VO UBQBU¤P DPNQSPNFUJEP FO HFOFSBS QSPZFDUPT RVF DBNCJFO MB IJTUPSJB 1PS +PSHF 1¹SF[

-

B IJTUPSJB FTB B[BSPTB F JOUSJODBEB TVDFTJÂO EF IFDIPT UJFOF B MBT JEFBT DPNP VO NPUPS GVOEB NFOUBM FO MPT QVOUPT EF RVJFCSF F JOGMFYJÂO 'J MÂTPGPT Z DJFOU½GJDPT IBO NBSDBEP MB FWPMVDJÂO EF MBT TPDJFEBEFT B QBSUJS EF QFRVFÁBT JEFBT RVF TF IBO USBOTGPSNBEP FO HSBOEFT SFWPMVDJPOFT &O OVFTUSP TJHMP 99* MB HFSNJOBDJÂO EF FTBT JEFBT FO CVTDB EF NPEJGJDBS MB IJTUPSJB TF EBO FO MBCPSBUPSJPT UBMMFSFT FO MBT QFRVFÁBT FNQSFTBT DVZPT FNQSFOEFEPSFT QSFUFOEFO JNQBDUBS FM NFSDBEP DPO VO OVFWP QSPEVDUP QFSP FTUF QSP DFTP TF EB UBNCJ¹O FO MB UFMFWJTJÂO &M DBOBM )JTUPSZ MP IB IFDIP DPO i6OB *EFB QBSB DBNCJBS MB )JTUPSJBw RVF SFDJCF QSPQVFTUBT EF JEFBT JOOPWBEPSBT B MBT RVF BQPZBS² FDPOÂNJDB NFOUF B MBT NFKPSFT JEFBT QBSB JNQBDUBS FO FM CFOF GJDJP EF MB TPDJFEBE &O FTUB PDBTJÂO TF SFDJCJF SPO DFSDB EF DJODP NJM JEFBT QSPWFOJFOUFT EF UPEP -BUJOPBN¹SJDB &O MB TFMFDDJÂO EF MPT TFNJGJOBMJTUBT MPT KVSBEPT FOGBUJ[BSPO MBT QSP QVFTUBT QBSB BZVEBS B RVJFOFT UJFOFO VO HSBEP EF EJTDBQBDJEBE QSFWFODJÂO EF FOGFSNFEBEFT QSPZFDUPT DFOUSBEPT FO MB QSPUFDDJÂO EFM NFEJP BNCJFOUF Z FOFSH½BT SFOPWBCMFT BEFN²T EF TP MVDJPOFT EF BSRVJUFDUVSB FG½NFSB FO TJUVBDJPOFT EF FNFSHFODJB &OUSF MBT JEFBT TFMFDDJPOBEBT EF MBT RVF TVSHJS²O MPT DJODP GJOBMJTUBT FTU² MB EFM NFYJDB OP -VJT .BSJP (PO[²MF[ 7FOFHBT RVJFO DIBSMÂ TPCSF TV QSPZFDUP -VJT .BSJP FMBCPSÂ VO GJMUSP TPMBS BCTPSCFEPS EF EJÂYJEP EF DBSCPOP DPO FM GJO EF SFUFOFS MBT QBSU½DVMBT DPOUBNJOBOUFT UBO UP FO FTQBDJPT BCJFSUPT DPNP DFSSBEPT UPEP FMMP JNQVMTBEP QPS UFDOPMPH½B DPO MV[ TPMBS $PO BÁPT EF FEBE FM JOUFS¹T QPS FM NF EJP BNCJFOUF FT VOB QBTJÂO RVF OBDJÂ DVBOEP UF O½B EPDF BÁPT i%FTEF FTB FEBE UFO½B BNJHPT HSB

DJBT B VO GPSP EF EJTDVTJÂO DJFOU½GJDBw DPNFOUÂ DPO EJDIP HSVQP BDVEJÂ FO WBSJBT PDBTJPOFT BM DBNQP QBSB BDBNQBS FO MB OBUVSBMF[B Z BQSF DJBS MPT BOJNBMFT TJMWFTUSFT 'VF FO MB QSFQBSBUPSJB EPOEF QVEP EFTBSSP MMBS N²T TVT JEFBT EFOUSP EF VOB NBUFSJB QS²D UJDB FO VO UBMMFS EF QSPEVDUPT EF DJFODJBT "OUF MB QFUJDJÂO EF JOWFTUJHBS VOB QSPCMFN²UJDB FM KP WFO TVQP EF JONFEJBUP RVF ZB MB UFO½B CJFO JEFO UJGJDBEB i:P ZB TBC½B BUBDBS FM QSPCMFNB EF MB DPOUBNJOBDJÂO Z FM NFEJP BNCJFOUF FM DBNCJP DMJN²UJDP MB NVFSUF EF MBT FTQFDJFT Z EF QFSTP OBT QPS MB DPOUBNJOBDJÂO EFM BJSF QPS FM CJÂYJEP EF DBSCPOP &T VO QSPCMFNB NVZ HSBOEFy -B

BGFDUBDJÂO EFM BJSF QSPWPDB VOB EF DBEB PDIP NVFSUFTw &O VOB QSJNFSB JOWFTUJHBDJÂO -VJT .BSJP EFTDVCSJÂ RVF GJMUSPT TJNJMBSFT FSBO NVZ HSBO EFT BEFN²T EF TFS NVZ DPTUPTPT Z FOUSFHBS QP DPT SFTVMUBEPT FO DPOUSBTUF DPO MB NBHOJUVE EFM QSPCMFNB 1FSP FTP OP MP JCB B EFUFOFS i4J FT UBO G²DJM DPOUBNJOBS EFCF TFS G²DJM EFTDPOUBNJOBSw DPNFOUÂ &M DPSB[ÂO EFM TJTUFNB JODMVZF WBSJPT OJWF MFT EF GJMUSBDJÂO NJTNPT RVF JNQJEFO FM QBTP EF QBSU½DVMBT EF NBZPS UBNBÁP QPMWP Z CBTVSB 6O GJMUSP JOUFSNFEJP MJCFSB BM BJSF EF MBT DPODFO USBDJPOFT EF EJÂYJEP EF DBSCPOP RVF QVEJFSB UF

&- $0/$&150 %& 6/ 130(3"." 26& 13070$" $".#*04 -BT WPUBDJPOFT BCSJFSPO FM QSJNFSP EF OPWJFNCSF FM FT MB GFDIB MªNJUF QBSB WPUBS FO FTUB TFNJGJOBM &M EJDUBNFO TF EBS B DPOPDFS FM EF EJDJFNCSF FO MB $JVEBE EF .¦YJDP &M PCKFUJWP FT EBSMF NBZPS WJTJCJMJEBE B FTUPT QSPZFDUPT QF SP UBNCJ¦O FTUJNVMBS TV EFTBSSPMMP FM QSJNFS TJUJP PCUFOES NJM E°MBSFT NJM FM TFHVOEP NJM FM UFSDFSP DVBSUP Z RVJOUP SFDJCJS O NJM E°MBSFT DBEB VOP -PT KVFDFT TPO MB QFSJPEJTUB DJFO UªGJDB /PSB #¡S &NJMJB %ªB[ $&0 EF ,BJ UFL -BCT "MFKBOESP 'SBODP 3FTUSFQP EF 3VUB / EF $PMPNCJB EPDUPS &NJ MJP 4BDSJTU O 3PDL 6". *[UBQBMBQB Z FM EPDUPS #FSOBSEP (PO[ MF[ "S¦DIJHB SFDUPS EF MB 6OJWFSTJEBE EFM 7BMMF EF

.¦YJDP &OUSF MPT EFN T TFNJGJOBMJTUBT IBZ PUSP QSPZFDUP NFYJDBOP VO TJTUF NB QBSB MB NFEJDJ°O EF EB®P BVEJUJWP FO OFPOBUPT EF $PMPNCJB IBZ VOB QSP QVFTUB EF FYPFTRVFMFUP Z VO IPSOP EF GBCSJDBDJ°O BVU°OPNB EF "SHFOUJOB DPNQJUF VO EJTQPTJUJWP EF MFDUVSB BSUJGJ DJBM QBSB E¦CJMFT WJTVBMFT Z VO LJU QBSB MB EFUFDDJ°O EF CBDUFSJBT QBU°HFOBT EF $IJMF VO BQBSBUP OFVSPDPOUSPMBEPS EF VOB TJMMB EF SVFEBT EF &DVBEPS VO QSP ZFDUP EF IPHBSFT FNFSHFOUFT MJHFSPT QMFHBCMFT Z VO SBEBS QBSB QFSTPOBT DPO EJTDBQBDJEBE WJTVBM EF 6SVHVBZ VOB QSPQVFTUB EF OFVSPNPEVMBDJ°O QPS JN HFOFT WJSUVBMFT -B WPUBDJ°O TF SFB MJ[B FO XXX UVIJTUPSZ DPN JEFB

OFS HSBDJBT B MB EFUFODJÂO EF QBSU½DVMBT OP EF TFBEBT FO FM QSPDFTP EF BCTPSDJÂO &MMP OPT QSF WJFOF EF CBDUFSJBT WJSVT QPMFO TNPH FUD¹UFSB 4V QSJNFS QMBO GVF QSPQPOFS FM VTP EF FTUPT GJMUSPT FO MPT FTDBQFT EF MPT BVUPNÂWJMFT QFSP USBT JOWFTUJHBS N²T EFTDVCSJÂ RVF MB NBZPS QBS UF EF MB DPOUBNJOBDJÂO OP QSPWJFOF EFM VTP EF MPT DPDIFT TJOP EF MBT HSBOEFT FNQSFTBT MB RVFNB EF DBSCÂO MB QSPEVDDJÂO EF FOFSH½B FM¹DUSJDB MBT G²CSJDBT BWJPOFT FUD¹UFSB 1FSP {RV¹ TVDFEF DPO FTB DPOUBNJOBDJÂO DPOUSPMBEB B USBW¹T EFM GJMUSP &O MVHBS EF DPNQBDUBSMB Z EFTIBDFSTF EF FMMB FM GJMUSP USBOTGPSNB FTF EJÂYJEP EF DBSCPOP FO DBSCPOBUP EF DBMDJP NJTNP RVF QVFEF TFS WFOEJEP B FNQSFTBT RVF MP VUJMJDFO DPNP NBUF SJB QSJNB 6OP EF TVT GJMUSPT QVFEF QSPDFTBS MB DBOUJEBE EF EJÂYJEP EF DBSCPOP RVF QSPDFTBS½BO ²SCP MFT PUSPT NPEFMPT QPES½BO FMFWBS MB DBQBDJEBE IBTUB BMDBO[BS MBT DBOUJEBEFT EF EJÂYJEP EF DBS CPOP QSPDFTBEBT QPS ²SCPMFT $PO FTUF QSPZFDUP -VJT .BSJP SFTVMUÂ HB OBEPS FO FM DPODVSTP EF RV½NJDB JOUFSDPMFHJBM EF QSFQBSBUPSJBT .BSJTUBT BEFN²T EF BDVEJS B FWFOUPT OBDJPOBMFT DPNP $ÂEJHP $JFODJB F JO UFSOBDJPOBMFT "TVODJÂO 1BSBHVBZ FTUF GVF HBOBEPS UBNCJ¹O EFM 0SP 7FSBOP /BDJPOBM $JFOU½GJDP QBSB &TUVEJBOUFT 4PCSFTBMJFOUFT .²T BMM² EF JS EF GFSJB FO GFSJB Z EF RVF FM QSPZFDUP OP TBMHB EF MPT TUBOET P EF MB BDBEF NJB -VJT .BSJP WJP FO i6OB *EFB QBSB DBNCJBS MB )JTUPSJBw EF )JTUPSZ VOB PQPSUVOJEBE QBSB JNQVMTBS FM GJMUSP TPMBS BCTPSCFEPS EF EJÂYJEP EF DBSCPOP )BCJFOEP UFSNJOBEP FEVDBDJÂO NFEJB TV QFSJPS -VJT .BSJP (PO[²MF[ 7FOFHBT FOSJRVF DF TV GPSNBDJÂO FTUVEJBOEP DVSTPT Z EJQMPNB EPT FO EJWFSTBT ²SFBT DPNP TPGUXBSF BVUPNPUSJ[ TBMVE FOUSF PUSBT DPO VO QFSGJM NVMUJEJTDJQMJOBSJP RVF OP FODPOUSBS½B TJ TF DJ ÁFSB TÂMP FO VOB MJDFODJBUVSB P JOHFOJFS½B


1~(*/" #

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

, -Ê Ê6 6 , , Ã>Ê ÌiÀ

> >ÃÊ >`Àià &M NJUP EF MB NBUFSOJEBE QFSGFDUB FT VOP EF MPT NBZPSFT UBCÈFT RVF BÈO TJHVFO FO QJF &T IPSB EF TBDBS EF MB DMBOEFTUJOJEBE FNPDJPOFT Z NBUJDFT )BDF QPDP FTUVWF FO VO NBSBWJMMPTP FODVFOUSP EF DMVCFT EF MFDUVSB FO 1BN QMPOB "DVEJFSPO QFSTPOBT Z QBSUJDJQ¹ FO VOB GBTDJOBOUF NFTB SFEPOEB DPO DVBUSP NVKFSFT DJFOU½GJDBT EF QSJNFSB DBUFHPS½B JOWFTUJHBEPSBT FO EJ WFSTPT DBNQPT 1BMPNB 7JSTFEB Z #FHPÁB )FSO²OEF[ FO UFDOPMPH½B Z DPMPS EF MPT BMJNFOUPT 4BOESB )FSW²T Z .BSUB "MPOTP FO EPT USBUBNJFOUPT PODP MÂHJDPT QJPOFSPT -BT DVBUSP UJFOF IJKPT Z UPEBT FMMBT IBCMBSPO EF MB EJGJDVM UBE EF DPNQBHJOBS FM IFDIP EF TFS NBESFT DPO VO BMUP OJWFM QSPGFTJPOBM Z EF DÂNP TFOU½BO RVF EF BMHÈO NPEP GBMMBCBO UBOUP FO TV USBCBKP DPNP BOUF TVT OJÁPT 1FSP GVF 4BOESB )FSW²T EPDUPSB FO #JPMPH½B F JOWFTUJHBEPSB EF MB JO NVOPUFSBQJB EFM D²ODFS FO FM $*." EF MB 6OJWFSTJEBE EF /BWBSSB RVJFO IJ [P MB JOUFSWFODJÂO N²T WBMJFOUF Z MVNJOPTB FO FTUF UFNB $POU MBT EJGJDVMUB EFT BÁBEJEBT RVF BGSPOU DVBOEP GVF B IBDFS VOB FTUBODJB QPTEPDUPSBM FO FM *OTUJUVUP 1BTUFVS EF 1BS½T Z UVWP RVF MMFWBS DPO FMMB B TV IJKP QFRVFÁP : DPO VO TFOUJEP EFM IVNPS TBCJP Z MJCFSBEPS EJKP DPTBT DPNP i&M QSJNFS E½B RVF EFK¹ B NJ IJKP FO MB HVBSEFS½B NF NBSDI¹ MMPSBOEP QFSP EF BMFHS½B : FTP UF QSPEVDF VO TFOUJNJFOUP EF DVMQBCJMJEBE USFNFOEPw :P OP UFOHP EFTDFOEFODJB Z ZB IF IBCMBEP FO N²T EF VOB PDBTJÂO EF MB QSFTJÂO RVF TVGSFT BM SFTQFDUP %F DÂNP FO DVBMRVJFS SFVOJÂO TPDJBM Z FO FM USBOTDVSTP EF VOB DPOWFSTBDJÂO CBOBM Z BHSBEBCMF BMHVJFO QVFEF QSF HVOUBSUF i{5JFOFT IJKPT w Z BOUF UV SFTQVFTUB OFHBUJWB UPEBT MBT DPOWFSTB DJPOFT TF EFUJFOFO Z FM HSVQP FOUFSP TF UF RVFEB NJSBOEP B MB FTQFSB EF RVF FYQMJRVFT QPS RV¹ OP 1FSP FTF BQSFNJP QBSB BEBQUBSUF BM QBQFM USBEJDJPOBM FT VOB GJMGB DPNQBSBEP DPO MB BVU¹OUJDB DPBDDJÂO RVF NF QBSFDF RVF TVGSFO MBT NBESFT QBSB TFS FO UPEP NPNFOUP VOBT NBESFT QFSGFDUBT 1BSB SFQSF TFOUBS TJFNQSF Z TJO MB NFOPS TPNCSB EF EVEB MB HMPSJB EF MB NBUFSOJEBE -B TPDJÂMPHB JTSBFM½ 0SOB %POBUI BDBCB EF QVCMJDBS VO NBHO½GJDP MJCSP UJUVMBEP .BESFT BSSFQFOUJEBT 3FTFSWPJS #PPLT FO EPOEF FYQPOF FM DBTP EF NVKFSFT RVF BVO BNBOEP B TVT IJKPT EJDFO RVF TJ QVEJFSBO WPMWFS BUS²T OP MPT IVCJFSBO UFOJEP &M USBCBKP IB MFWBOUBEP BNQPMMBT Z %POBUI IB SFDJCJEP BUBRVFT WJSVMFOUPT BVORVF UBO TÂMP FTU² SFGMFKBOEP VOB QBSUF EF MB SFBMJEBE IBTUB BIPSB TFQVMUBEB QPS FM QFTP NBSNÂSFP EFM EFCFS TFS 1PS VO NBOEBUP TFYJTUB RVF TJHVF IJODBEP FO MP N²T QSPGVOEP EF OVFTUSBT DB CF[BT Z RVF EJDUB RVF MB NBUFSOJEBE FT FM QBQFM FTUFMBS FO MB WJEB EF VOB NVKFS DVBOEP OP FM ÈOJDP 4JO EVEB FM NJUP EF MB NBUFSOJEBE QFSGFDUB FT VOP EF MPT NBZPSFT UBCÈFT RVF BÈO TJHVFO FO QJF FO MBT TPDJFEBEFT EFNP DS²UJDBT 6OB NFOUJSB DBTJ JOUPDBCMF RVF BIPSB BMHVOBT WBMJFOUFT FNQJF[BO B BUSFWFSTF B EFOVODJBS $PNP IJ[P FO 1BNQMPOB MB JOUS¹QJEB 4BOESB )FSW²T : RVF DPOTUF RVF OJ FMMB OJ MBT PUSBT USFT DJFOU½GJDBT EF MB NFTB FOUSBCBO EFOUSP EF MB EFGJOJ DJÂO EF iNBESFT BSSFQFOUJEBTw "M DPOUSBSJP RVF MBT NVKFSFT PCKFUP EF FTUVEJP EF %POBUI FO FM IJQPU¹UJDP DBTP EF QPEFS EBS NBSDIB BUS²T OVFT USBT JOWFTUJHBEPSBT IVCJFSBO TFHVJEP FTDPHJFOEP UFOFS EFTDFOEFODJB 1F SP MP RVF FWJEFODJ MB DIBSMB EF 1BNQMPOB Z TPCSF UPEP MB JOUFSWFODJÂO EF MB EPDUPSB )FSW²T FT MB JONFOTB DPNQMFKJEBE EFM UFNB Z MBT NVDIBT TPN CSBT EF MB NBUFSOJEBE $PNP OP QPE½B TFS NFOPT QPS PUSB QBSUF B QPDP RVF MP BOBMJDF VOP GVFSB EF MB DFHVFSB EFM QSFKVJDJP -BT SFMBDJPOFT IVNBOBT TPO NVZ DPNQMJ DBEBT JODMVTP DPO MB QBSFKB N²T RVFSJEB IBZ JOTUBOUFT FO MPT RVF EFTFB S½BT WPMBUJMJ[BSMB UPEB SFMBDJÂO QSPGVOEB FNPDJPOBM UJFOF TV QSFDJP DPO GMJDUPT EF EFTFPT Z EF QSJPSJEBEFT DFTJPOFT EF MJCFSUBE RVF VOP EFCF IBDFS : TJ FTUP FT BT½ IBTUB DPO MPT BNJHPT {DÂNP OP WB B TVDFEFS FO MB SFMBDJÂO NBESF IJKP UBO JNQPSUBOU½TJNB UBO JOUFSEFQFOEJFOUF UBO EFWPSBEPSB &T FWJEFOUF RVF TFS NBESF OP QVFEF TFS VO DPOUJOVP FNCFMFTP Z RVF RVJ[² IB ZB NPNFOUPT EF EFTFTQFSBDJÂO FO MPT RVF UF HVTUBS½B RVF FTF OJÁP OP FYJT UJFSB BVORVF TFB VO EFTBIPHP NPNFOU²OFP Z FO SFBMJEBE OP UF BSSFQJFO UBT -P NBMP FT RVF FTPT TFOUJNJFOUPT UBO OBUVSBMFT FTU²O BQMBTUBEPT CBKP MB MPTB EFM NJUP NBUFSOBM EF NPEP RVF NVDIBT NVKFSFT TF DSFFO NBMBT NB ESFT QPS QFOTBS BT½ Z MMFHBO B FOGFSNBS EF DVMQBCJMJEBE 4F NF PDVSSF RVF FT MB IPSB EF FNQF[BS B TBDBS EF MB DMBOEFTUJOJEBE UPEBT FTBT FNPDJPOFT Z FTPT NBUJDFT Ï 304" .0/5&30 &%*$*0/&4 &- 1"¡4 4- 5PEPT MPT EFSFDIPT SFTFSWBEPT

/"Ê /",

%PNJOHP EF OPWJFNCSF EF

9"7*&3 7&-"4$0 &4$3*503 i-PT B×PT TBCBOEJKBTw 1MBOFUB

6OB IJTUPSJB Ü503$*%"Ý 1MBOFUB DPNQBSUF VO GSBHNFOUP EFM N T SFDJFOUF MJCSP EF 9BWJFS 7FMBTDP DPO MPT MFDUPSFT EF &- */'03."%03 $035&4¶" t 1-"/&5"

-

B EF -VMÈ FT MB U½QJDB IJT UPSJB RVF DB EB VOP DVFOUB EJGF SFOUF RVJ[² QPSRVF QBSFDF EF NFOUJSBT Z IBDF GBMUB FTNFSBSTF QB SB IBDFSMB DSF½CMF 0 QPS RVF FT EFNBTJBEP TVDVMFO UB QBSB OP JODMVJS FGFDUPT FTQFDJBMFT 0 UBM WF[ QPS FTF ²OJNP QSPUBHÂOJDP BM RVF TVFMF BQFMBS UBOUP EF SFMBUBS DPO QFMPT Z TFÁBMFT MB IJT DBEB DPSSFWFJEJMF DVBOEP WJTUF VO JOGVO UPSJB EF "MNB -VJTB (ÂNF[ -VOB FT QSF EJP EF UFTUJNPOJP 4PCSBO MPT RVF BTFHV DJTP BDMBSBS RVF MP RVF NFEJP NVOEP DSFF SBO RVF FTUVWJFSPO BI½ P RVF DPOPDFO B TV IJTUPSJB OP FT TJOP VO BDDJEFOUF RVF VOP EF MPT UFTUJHPT EFM QFOPTP JODJEFOUF JHVBM TJSWF EF FQ½MPHP P QSFGBDJP &TDBOEB BVORVF MP N²T DPNÈO FT RVF EF UPEPT NP MPTP T½ QFSP OP TVGJDJFOUF QBSB TFHVJS TVT EPT MB BVEJFODJB TF MP USBHVF DPO FOPSNF IVFMMBT UJFSSB BCBKP Z SBTUSFBS TV EFTUJOP FOUVTJBTNP 1PSRVF DMBSP TJ FM DIJTNF FT N²T BMM² EFM CP DIJODIF 1VFT VOB DPTB FT VO DIJTNB[P {RVJ¹O TF WB B JOUFSFTBS FO RVF VOP RVJFSB NPSJSTF Z PUSB RVF ZB QPS FTP WBZB B EBS B MBT NBOPT EFM GPSFOTF WFSJGJDBSMP 5BM DPNP MP TVHJFSF MB DPFYJTUFODJB {2VJ¹O EJKP RVF MBT SVJOBT OP UJFOFO TV NÈMUJQMF EF WFSTJPOFT EJTUJOUBT Z EJTUBO NBÁBOB 1VFT QPS FTP NBN² FT NJ DVN UFT MB IJTUPSJB EF -VMÈ IB TJEP PCKFUP EF JO DPOUBCMFT DPOEJNFOUPT EFTEF FM DBNCJP QMFBÁPT TF EFGFOEJÂ -VMÈ QPS FO¹TJNB EF OPNCSFT Z FTDFOBSJPT IBTUB MB NBMJDJP WF[ UPEBW½B FO MB W½TQFSB EF BRVFM WJFS TB JODMVTJÂO EF UPEB TVFSUF EF EFUBMMFT USV OFT GBU½EJDP {/P UF EJHP RVF UFOHP RVF FTUVEJBS DVMFOUPT Z QBUSBÁBT GMBHSBOUFT DPNP ¹TB {: OP UF EJKF ZP RVF UF MMFWFT UVT MJ EF RVF FM QBESF MB FODFSSÂ FO VO DPOWFOUP MVFHP EF RVF MB NBESF TF QFHBSB VO CBMB CSPT BM SBODIP EF UVT U½PT JOTJTUJÂ MB NBN² ZB FO VO UPOP EF [P 0USPT DVFOUBO RVF FM OPWJP GVF FM TVJ DJEBEP USBT WFSMB USBCBKBOEP FO VO CVSEFM TÈQMJDB WFODJEB {5È DSFFT RVF BMM² NF WPZ B DPODFO : IBZ UBNCJ¹O RVJFOFT KVSBO RVF MB JOGFMJ[ TBMJÂ DPO MPT QJFT QPS EFMBOUF EF VO IPTQJ USBS UPSDJÂ MB CPDB MB IJKB DPO MPT CSB [PT DSV[BEPT Z MB WJTUB FO FM UFDIP -VFHP UBM QTJRVJ²USJDP 1BQBSSVDIBT TFÁPSBT Z TFÁPSFT -B QSPCÂ B QPOFSTF QFEBHÂHJDB /FDFTJUP WFSEBE EF MB IJTUPSJB EF -VMÈ QPS BMHP FT FTUBS TPMB NBNJUB 7FUF DPO NJT IFSNB U² QSFTFOUF FO UPEBT TVT WFSTJPOFT UJFOF OBT PUSP E½B GFTUFKBNPT &TB OPDIF "MNB -VJTB TF GVF B MB DB RVF WFS DPO FM GVHB[ JOTUBOUF VO QBSQBEFP DBTJ RVF MB FDIÂ EF DBCF[B B MB JHOPNJOJB NB DPO MB JMVTJÂO EF VO OJÁP FO /PDIF QSFDJQJUÂ MB SVJOB EF MPT TVZPT Z QFSTVBEJÂ CVFOB QFSP MB QFSTFHV½B VO WBHP TFOUJ B MB UJFSSB EF USBH²STFMB 4J TF USBUB QPS NJFOUP EF DVMQB $JFSUP TVT BSHVNFOUPT

FSBO JSSFCBUJCMFT 5BO UPT BÁPT EF P½S RVF USBCB KP Z FTUVEJP FTU²O TJFN QSF QSJNFSP MF EBCBO MB SB[ÂO QPS LOPDL PVU U¹D OJDP QFSP JHVBM TV DPBS UBEB FTUBCB DPKB {2V¹ UBOUP JCB B FTUVEJBS FO FM NFSP QSJODJQJP EFM TF NFTUSF /VODB MP IBC½B IFDIP OJ UFO½B MB GBNB EF FTUVEJPTB -B QSVFCB FSB RVF WBSJBT EF TVT WJFKBT DPNQBÁFSBT FSBO ZB MJDFODJBEBT Z FMMB FTUBCB FNQF[BO EP PUSB OVFWB DBSSFSB EFTQV¹T EF USFT JO UFOUPT EFTHBOBEPT {-P QBTBCB QPS BMUP MB NBN² B NPEP EF SFHBMP EF DVNQMFBÁPT P MF DPNQSBCB FM DVFOUP EF MB GPSNBMJEBE JOTUBOU²OFB $POUFOUB DPNP FTUBCB QPS MB DJUB TFDSFUB EFM E½B TJHVJFOUF "MNB -VJTB KBN²T JNBHJOÂ RVF EF FTB EJTZVOUJWB DPM HBCB TV EFTUJOP DPNP VO Q¹OEVMP 4F EFTQFSUÂ UFNQSBOP FO MB NBÁBOB Z OP WPMWJÂ B EPSNJSTF QPS FM QVSP QMBDFS EF BOUJDJQBSTF B QBMBEFBS MB MFOHVB EF +JNNZ 1BQBDJUP NJFOUSBT NBN² Z MBT OJ ÁBT MB QBTBS½BO CPNCB DPSSFUFBOEP HBMMJ OBT Z QFTDBOEP BKPMPUFT TJO TV BZVEB 4B CPSFÂ EF VOB WF[ MB FOWJEJB EF UBOU½TJNBT QFOEFKBT RVF EBS½BO DVBMRVJFS DPTB QPS N½OJNP TBMJS DPO +JNNZ $BNQPNBOFT :B QBTBEBT MBT TJFUF MBT PZÂ WFOJS EF QVOUJUBT MBT USFT QPS FM QBTJMMP MMFOBT EF IBQQZCJS UIEBZT DPO TV OPNCSF Z TF IJ[P MB EPSNJ EB QBSB EBSMFT FM HVTUP EF EFTQFSUBSMB {4FHVSP RVF UF RVJFSFT RVFEBS TP MB QVTP DBSB EF OJÁB MB NBN² Z -VMÈ IJ [P VOB KFUB EF GBTUJEJP 'SBHNFOUP EFM MJCSP -PT BÁPT TBCBOEJKBT 1MBOFUB Ï 9BWJFS 7FMBTDP $PSUFT½B PUPSHBEB CBKP FM QFSNJTP EF (SVQP 1MBOFUB .¹YJDP

Ê /1, -Ê6 , >À >Ê*> >À

«ÀiÃ>ÃÊ }iÛ>à /P FT SBSP RVF MBT DPNQBÁ½BT BOVODJFO KVOUP B TV OPNCSF MB GF DIB FO RVF GVFSPO GVOEBEBT TFHVSBNFOUF QPSRVF MB MPOHFWJEBE FT FO T½ VOB QSVFCB EF ¹YJUP -B TVQFSWJWFODJB EF FNQSFTBT BO UJHVBT FT UBNCJ¹O VO JOEJDBEPS BDFSDB EF MB FTUBCJMJEBE FDPO NJDB TPDJBM Z QPM½UJDB EF VO QB½T EF TV BQFHP B MBT USBEJDJPOFT EF MB DBQBDJEBE EF BEBQUBDJÂO Z FWPMVDJÂO EF MBT QSPQJBT JOTUJ UVDJPOFT P DPNQBÁ½BT &O .¹YJDP EPOEF DPO TBÁB DBTJ SJUVBM UPEP TF EFTUSVZF QFSJÂEJDBNFOUF EPOEF MBT DJVEBEFT SFTVMUBO JSSFDPOPDJCMFT EF VOB HFOFSBDJÂO B PUSB EPOEF FM SFDBNCJP EF MBT FMJUFT FT WFSUJ HJOPTP Z MB NFNPSJB DPMFDUJWB FTDBTB OP TPO NVDIBT MBT FNQSF TBT RVF IBDFO IVFTPT WJFKPT BVORVF BMHVOBT IBZ &OUSF MBT N²T BOUJHVBT FTU²O FM UFRVJMB $VFSWP EF GJOBMFT EFM TJHMP 97*** FM $BG¹ EF MB 1BSSPRVJB EF 7FSBDSV[ FM $BMFOEBSJP EF (BM W²O MB .FSDFS½B EFM 3FGVHJP EF .¹YJDP -JWFSQPPM &M *OGPSNBEPS QBTBS² FM BÁP QSÂYJNP B GPSNBS QBSUF EFM TFMFDUP HSVQP EF FNQSFTBT DFOUFOBSJBT 1FSP FO PUSBT MBUJUVEFT FT NVZ GSFDVFOUF UPQBSTF DPO DPNQBÁ½BT P NBSDBT DPO WBSJPT TJHMPT EF FYJTUFODJB QPS QPOFS VO FKFNQMP MB EFM U¹ JOHM¹T 5XJOJOHT EBUB EF FM UBNCJ¹O CSJU²OJDP DBMFOEBSJP 0ME .PPSF T "MNBOBDL DPNFO[ B QVCMJ DBSTF FO &O MB 8JLJQFEJB FO JOHM¹T IBZ VOB MJTUB NVZ EJ WFSUJEB RVF JODMVZF FNQSFTBT GVOEBEBT EFTEF FM BÁP VOB DPOTUSVDUPSB KBQPOFTB Z MMFHB IBTUB FM TJHMP 97** -PT DBNQFP OFT EF MB MPOHFWJEBE TPO MPT KBQPOFTFT BVORVF UBNCJ¹O IBZ DBTPT DPNP MPT EF VOB GVOEJDJÂO EF DBNQBOBT FO *UBMJB Z VO GB CSJDBOUF EF WJOPT GSBOD¹T RVF TF SFNPOUBO BM BÁP "EFN²T EF JOEVTUSJBT EF EJTUJOUPT HJSPT FT OPUBCMF FM OÈNFSP EF IPUF

MFT CBSFT SFTUBVSBOUFT EFTUJMFS½BT WJOBUFS½BT Z DFSWFDFS½BT FO FTB MJTUB -PT KBQPOFTFT UJFOFO MB GSJPMFSB EF DJODVFOUB NJM DPN QBÁ½BT EF N²T EF DJFO BÁPT MP DVBM QBSFDF JOEJDBS RVF FM EFTQF HVF EFM DBQJUBMJTNP FO FM TJHMP 9*9 QFSNJUJ FTUBCMFDFS FTUSVD UVSBT N²T EVSBEFSBT RVF FO PUSPT QB½TFT 1FSP TJ CJFO MB NBZPS½B EF FTBT FNQSFTBT DFOUFOBSJBT TF GVOEBSPO FO FM QFSJPEP .FJKJ IBZ NVDIBT DFSDB EF RVF UJFOFO N²T EF EPT TJHMPT EF BO UJHÊFEBE &M IPUFM )ÃTIJ FO ,PNBUTV FO MB QSFGFDUVSB EF *TIJLB XB B VOPT LJMÂNFUSPT EF 5PLJP BCSJ TVT QVFSUBT FO FM BÁP BT½ RVF QSPOUP DVNQMJS² BÁPT HFOFSBDJPOFT EF MB GBNJMJB )ÃTIJ IBO FTUBEP BM GSFOUF EFM OFHPDJP &M TBMÂO EF U¹ 5P SBZB DPO TVDVSTBMFT FO EJTUJOUPT QB½TFT DPNFO[ DPNP QSPWFF EPS EFM QBMBDJP JNQFSJBM FO HFOFSBDJPOFT EF MB GBNJMJB ,VSPLBXB IBO EJSJHJEP MB DPNQBÁ½B -B BIPSB NVMUJOBDJPOBM EF JOWFSTJPOFT FO MB JOEVTUSJB EFM BDFSP Z FM USBOTQPSUF NBS½UJNP 0LBZB EF MB DJVEBE EF /BHPZB TF GVOE FO Z TV EJSFDUPS FT FM E¹DJNP UFSDFSP EF MPT 0LBZBT DPUJ[B FO MBT CPMTBT EFM NVO EP Z UJFOF DFSDB EF FNQMFBEPT " NBOFSB EF DPOUSBTUF IBZ RVF QFOTBS QPS FKFNQMP RVF TFHÈO DJGSBT PGJDJBMFT FO MPT &TUBEPT 6OJEPT TÂMP FM EF MBT FNQSFTBT GVOEBEBT FO TFHV½BO FYJTUJFOEP WFJOUF BÁPT EFTQV¹T 4FS½B JOUFSFTBOUF DPOPDFS MB DJGSB QBSB .¹YJDP IUUQT FO XJLJQFEJB PSH XJLJ -JTU@PG@PMEFTU@DPNQBOJFT IUUQ HSBOE BOHMF MFGJHBSP GS KBQPO MFT TFDSFUT EFT QMVT BODJFOOFT FOUSFQSJTFT EV NPOEF


%PNJOHP EF OPWJFNCSF EF

1~(*/" #

&- */'03."%03

* , Ê Ê/"+1 >À ÊÛ>À}>ÃÊ Ã> &M WJBKFSP DIJOP RVF QPS QSJNFSB WF[ EFKÂ VO UFTUJNPOJP FTDSJUP TP CSF FTUB JTMB FO FM TJHMP 9*7 MB MMBNÂ i-B JTMB EF MPT MFPOFTw 4JOHBQV SB QFSP TF FRVJWPDÂ EF BOJNBM QPSRVF BRV½ OVODB IVCP MFPOFT TÂ MP UJHSFT Z FO HSBO DBOUJEBE QVFT IBTUB NVZ BWBO[BEP FM TJHMP 9*9 FTUBT GJFSBT TF DPN½BO B MPT DBNQFTJOPT RVF TF FYUSBWJBCBO FO TVT TFMWBT "RVFM QSJNJUJWJTNP RVFEÂ ZB NVZ BUS²T Z BIPSB 4JOHBQVS FT VOP EF MPT QB½TFT N²T QSÂTQFSPT MJNQJPT BWBO[BEPT Z TFHVSPT EFM NVOEP Z FM QSJNFSP RVF FO VO QMB[P SFMBUJWBNFOUF DPSUP DPOTJHVJÂ BDBCBS DPO EPT EF MPT QFPSFT GMBHFMPT EF MB IVNBOJEBE MB QPCSF[B Z FM EFTFNQMFP &O MPT TFJT E½BT RVF BDBCP EF QBTBS BRV½ B UPEBT MBT QFSTPOBT DPO MBT RVF FTUVWF MFT QFE½ RVF NF MMFWBSBO B WFS FM CBSSJP N²T QPCSF EF FTUB DJVEBE FTUBEP : BRVFMMB NBSBWJMMB RVF IF WJTUP DPO NJT QSPQJPT PKPT FT WFSEBE BRV½ OP IBZ NJTFSJB OJ IBDJOBNJFO UP OJ DIBCPMBT Z T½ FO DBNCJP VO TJTUFNB EF TBMVE VOB FEVDBDJÂO Z PQPSUVOJEBEFT EF USBCBKP BM BMDBODF EF UPEP FM NVOEP BT½ DPNP VOB JONJHSBDJÂO DPOUSPMBEB RVF CFOFGJDJB QPS JHVBM BM QB½T Z B MPT FY USBOKFSPT RVF WJFOFO B USBCBKBS FO ¹M 4JOHBQVS IB EFNPTUSBEP DPOUSB UPEBT MBT UFPS½BT EF TPDJÂ MPHPT Z FDPOPNJTUBT RVF SB[BT SFMJHJPOFT USBEJDJPOFT Z MFOHVBT EJT UJOUBT FO WF[ EF EJGJDVMUBS MB DPFYJTUFODJB TPDJBM Z TFS VO PCTU²DVMP QBSB FM EFTBSSPMMP QVFEFO WJWJS QFSGFDUBNFOUF FO QB[ DPMBCPSBOEP FOUSF FMMBT Z EJTGSVUBOEP QPS JHVBM EFM QSPHSFTP TJO SFOVODJBS B TVT DSFFODJBT Z DPTUVNCSFT "VORVF MB HSBO NBZPS½B EF MB QPCMBDJÂO FT EF PSJHFO DIJOP VO MPT NBMBZPT Z MPT JOEJPT UBNJMFT TPCSF UP EP BT½ DPNP MPT FVSPBTJ²UJDPT DSJTUJBOPT DPOWJWFO TJO QSPCMFNBT DPO BRVFMMPT FO VO DMJNB EF UPMFSBODJB Z DPNQSFOTJÂO SFD½QSPDBT MP RVF TJO EVEB IB DPOUSJCVJEP FO HSBO QBSUF B RVF FTUF QFRVFÁP QB½T IB ZB JEP RVFNBOEP FUBQBT EFTEF TV JOEFQFOEFODJB FO IBTUB DPO WFSUJSTF FO FM HJHBOUF RVF FT BIPSB &TUF FYUSBPSEJOBSJP MPHSP TF EFCF FO HSBO QBSUF B -FF ,VBO :FX RVF GVF 1SJNFS .JOJTUSP USFJOUB Z VO BÁPT EF B Z DVZB NVFSUF FM BÁP QBTBEP DPOWPDÂ B CVFOB QBSUF EF MB JTMB FO VO IPNFOBKF NVMUJUVEJOBSJP -BT JEFBT F JOJDJBUJWBT EF FTUF EJSJHFOUF FEVDBEP FO *OHMBUFSSB FO MB 6OJWFSTJEBE EF $BNCSJEHF TJHVFO PSJFOUBOEP MB WJEB EFM QB½T VO IJKP TVZP FT FM BDUVBM 1SJNFS .J OJTUSP F JODMVTP TVT N²T TFWFSPT DS½UJDPT SFDPOPDFO RVF TV FOFS H½B Z TV JOUFMJHFODJB GVFSPO EFDJTJWBT QBSB MB OPUBCMF NPEFSOJ[B DJÂO EF FTUB TPDJFEBE &M TJTUFNB RVF DSFÂ FSB BVUPSJUBSJP BVORVF

>Ê Ã >Ê`iÊ ÃÊÌ }Àià DPOTFSWBSB MB BQBSJFODJB EF VOB EFNPDSBDJB QFSP B EJGFSFODJB EF PUSBT EJDUBEVSBT OJ FM BVUÂDSBUB OJ TVT DPMBCPSBEPSFT BQSPWFDIB SPO FM QPEFS QBSB FOSJRVFDFSTF Z FM QPEFS KVEJDJBM QBSFDF IBCFS GVODJPOBEP UPEPT FTUPT BÁPT EF NBOFSB JOEFQFOEJFOUF QFOBMJ[BO EP TFWFSBNFOUF MPT DBTPT OBEB GSFDVFOUFT EF DPSSVQDJÂO RVF MMFHBCBO B TVT NBOPT &M QBSUJEP EF -FF ,VBO :FX HBOBCB UPEBT MBT FMFDDJPOFT TJO OFDFTJEBE EF IBDFS USBNQBT Z TJFNQSF QFSNJU½B RVF VOB QFRVFÁB Z EFDPSBUJWB PQPTJDJÂO GJHVSBTF FO FM 1BSMBNFOUP DPT UVNCSF RVF TJHVF WJHFOUF QVFT MPT QBSMBNFOUBSJPT EF PQPTJDJÂO FO MB BDUVBMJEBE TPO TÂMP DJODP -B QSFOTB FT B NFEJBT MJCSF MP RVF TJH OJGJDB RVF QVFEF IBDFS DS½UJDBT B MBT QPM½UJDBT EFM S¹HJNFO QFSP OP EFGFOEFS JEFPMPH½BT SFWPMVDJPOBSBT Z IBZ MFZFT NVZ FTUSJDUBT QSPIJCJFOEP UPEP MP RVF TFB PGFOTJWP QBSB MBT DSFFODJBT DPTUVN CSFT Z USBEJDJPOFT EF MBT DVBUSP DVMUVSBT Z SFMJHJPOFT RVF DPOGPS NBO 4JOHBQVS "M JHVBM RVF FO -POESFT IBZ VO 4QFBLFS T $PSOFS FO VO QBSRVF BEPOEF TF QVFEFO DPOWPDBS N½UJOFT Z QSPOVODJBS EJT DVSTPT DPOUSB FM HPCJFSOP DPO MB ÈOJDB DPOEJDJÂO EF RVF RVJFOFT MP IBHBO TFBO DJVEBEBOPT EFM QB½T &M NJMBHSP TJOHBQVSFOTF OP IVCJFSB TJEP QPTJCMF TJO EPT NFEJEBT FTFODJBMFT RVF -FF ,VBO :FX FO TVT QSJNFSPT BÁPT EF WJ EB QPM½UJDB TF QSPDMBNBCB TPDJBMJTUB BVORVF BEWFSTBSJP EF MPT DP NVOJTUBTB QVTP FO QS²DUJDB EFTEF RVF BTVNJ FM QPEFS VOB FEV DBDJÂO QÈCMJDB EF BMU½TJNP OJWFM B MB RVF EVSBOUF NVDIPT BÁPT TF DPOTBHS MB UFSDFSB QBSUF EFM QSFTVQVFTUP OBDJPOBM Z VOB QPM½UJDB IBCJUBDJPOBM RVF QFSNJUJ B MB JONFOTB NBZPS½B EF MB QPCMBDJÂO TFS QSPQJFUBSJB EF MB DBTB EPOEF WJW½B "TJNJTNP BRVFM TF FNQFÁ FO QBHBS FMFWBEPT TBMBSJPT B MPT GVODJPOBSJPT QÈCMJDPT EF NBOFSB RVF QPS VOB QBSUF TF EFTBMFOUBSB MB DPSSVQDJÂO FO MB BENJOJTUSBDJÂO QÈ CMJDB Z EF PUSB TF BUSBKFSB BM TFSWJDJP EFM &TUBEP Z B MB WJEB QPM½UJDB B MPT KÂWFOFT N²T DBQBDFT Z NFKPS QSFQBSBEPT &T WFSEBE RVF 4JOHBQVS UVWP TJFNQSF VO QVFSUP BCJFSUP BM SFTUP EFM NVOEP RVF FTUJNVM FM DPNFSDJP JOUFSOBDJPOBM QFSP FM HSBO EFTBSSPMMP FDPOÂNJDP RVF IB BMDBO[BEP OP TF EFCJ B TV QSJWJMFHJB EB QPTJDJÂO HFPHS²GJDB TJOP QSJODJQBMNFOUF B MB QPM½UJDB EF BQFSUV SB FDPOÂNJDB Z EF JODFOUJWPT B MB JOWFSTJÂO FYUSBOKFSB .JFOUSBT TJ HVJFOEP MBT OFGBTUBT QPM½UJDBT EF MB $&1"- EF FOUPODFT MPT QB½TFT EFM 5FSDFS .VOEP iEFGFOE½BOw TVT FDPOPN½BT EF MBT USBOTOBDJPOB MFT B MBT RVF NBOUFO½BO B EJTUBODJB Z QSPQJDJBCBO VO EFTBSSPMMP QB SB BEFOUSP 4JOHBQVS TF BCS½B BM NVOEP Z BUSB½B B MBT HSBOEFT FNQSF

TBT PGSFDJ¹OEPMFT VOB FDPOPN½B BCJFSUB EF QBS FO QBS VO TJTUFNB CBODBSJP Z GJOBODJFSP FGJDJFOUF Z NPEFSOP Z VOB BENJOJTUSBDJÂO QÈ CMJDB UFDOJGJDBEB Z TJO DPSSVQUFMBT &TP IB DPOWFSUJEP B MB DJVEBE FT UBEP FO iFM QBSB½TP EFM DBQJUBMJTNPw VO U½UVMP EFM RVF TVT DJVEBEBOPT OP QBSFDFO BWFSHPO[BSTF QBSB OBEB TJOP UPEP MP DPOUSBSJP -B QSJ NFSB WF[ RVF WJOF BRV½ FO FM BÁP NF RVFE¹ NBSBWJMMBEP BM WFS RVF FO FTUF SJODPODJUP EFM "TJB IBC½B VOB BWFOJEB DPNP 0SDIBSE 4USFFU DPO UBOUBT UJFOEBT FMFHBOUFT DPNP MBT EF MB 2VJOUB "WFOJEB EF /VFWB :PSL FM 'BVCPVSH 4BJOU )POPS¹ EF 1BS½T P FM .BZGBJS EF -PO ESFT &M 1SFTJEFOUF EF MB $²NBSB EF $PNFSDJP CSJU²OJDP TJOHBQVSFO TF RVF FTUBCB DPONJHP NF EJKP i$VBOEP ZP FSB OJÁP FTUB BWFOJEB RVF MP TPSQSFOEF UBOUP FTUBCB MMFOB EF DBCBÁBT FSJHJEBT TPCSF QJMP UFT Z MMFOB EF GBOHP Z DPDPESJMPTw /P UPEP FT FOWJEJBCMF FO 4JOHBQVS EFTEF MVFHP BVORVF T½ MP TPO QPS TVQVFTUP TV TJTUFNB EF TBMVE BM BMDBODF EF UPEP FM NVOEP Z TVT DPMFHJPT Z VOJWFSTJEBEFT NPE¹MJDPT B MPT RVF UJFOFO BDDFTP MPT TJOHBQVSFOTFT N²T IVNJMEFT HSBDJBT B VO TJTUFNB EF CFDBT Z EF QS¹T UBNPT NVZ FYUFOEJEP 1FSP FT MBNFOUBCMF RVF FYJTUB UPEBW½B MB QFOB EF NVFSUF Z MB C²SCBSB TFOUFODJB EFM DBOF P MBUJHB[PT QBSB MPT MB ESPOFT $SFZFOEP NJUJHBS FTUB CBSCBSJF BMHVJFO NF FYQMJDÂ RVF iTÂ MP TF JOGMJH½BO WFJOUJDVBUSP MBUJHB[PT DPNP N²YJNPw :P MF DPOUFTU¹ RVF JNQBSUJEPT QPS VO WFSEVHP CJFO FOUSFOBEP WFJOUJDVBUSP MBUJHB [PT CBTUBCBO QBSB NBUBS FO FM IPSSPS EF MB UPSUVSB B VO TFS IVNBOP {4F IVCJFSB QPEJEP DPOTFHVJS MB GPSNJEBCMF USBOTGPSNB DJÂO EF 4JOHBQVS TJO FM BVUPSJUBSJTNP SFTQFUBOEP SJHVSPTBNFOUF MPT VTPT EF MB EFNPDSBDJB :P FTUPZ BCTPMVUBNFOUF DPOWFODJEP RVF T½ B DPOEJDJÂO EF RVF IBZB VOB NBZPS½B EFM FMFDUPSBEP RVF MP DSFB UBN CJ¹O Z E¹ TV SFTQBMEP B VO QMBO EF HPCJFSOP RVF QJEB VO NBOEBUP DMB SP QBSB MBT SFGPSNBT RVF IJ[P FO TV QB½T -FF ,VBO :FX 1PSRVF QSP CBCMFNFOUF QPS QSJNFSB WF[ FO MB IJTUPSJB FO OVFTUSB ¹QPDB MB QSPTQFSJEBE P MB QPCSF[B EF VO QB½T OP FTU²O EFUFSNJOBEBT QPS MB HFPHSBG½B OJ MB GVFS[B TJOP EFQFOEFO FYDMVTJWBNFOUF EF MBT QPM½UJ DBT RVF TJHBO MPT HPCJFSOPT .JFOUSBT UBOUPT QB½TFT EFM NVOEP TVC EFTBSSPMMBEP FOBKFOBEPT QPS FM QPQVMJTNP FMFH½BO MP QFPS FTUB QF RVFÁB JTMJUB EFM "TJB PQUÂ QPS MB PQDJÂO DPOUSBSJB Z IPZ FO FMMB OBEJF TF NVFSF EF IBNCSF OJ FTU² FO FM QBSP GPS[PTP OJ TF WF JNQFEJEP EF SFDJCJS BZVEB N¹EJDB TJ MB OFDFTJUB DBTJ UPEPT TPO EVFÁPT EF MB DB TB EPOEF WJWFO Z OP JNQPSUB B DV²OUP BTDJFOEBO MPT JOHSFTPT EF TV GBNJMJB DVBMRVJFSB RVF TF FTGVFSDF QVFEF SFDJCJS VOB GPSNBDJÂO QSP GFTJPOBM Z U¹DOJDB EFM N²T BMUP OJWFM 7BMF MB QFOB RVF MPT QB½TFT QP CSFT Z BUSBTBEPT UFOHBO FO DVFOUB FTUB MFDDJÂO 4JOHBQVS OPWJFNCSF EF %FSFDIPT NVOEJBMFT EF QSFOTB FO UPEBT MBT MFOHVBT SFTFSWBEPT B &EJDJPOFT &- 1"¡4 4- Ï .BSJP 7BSHBT -MPTB

-" 13*.&3" ." "/" %& -"

". 3*$"

%& 536.1 &'&

Â4J M DVNQMF TV QSPNFTB TF BDBCª NJ TVF¨P BNFSJDBOP : MP QFPS FT RVF ZB GPSNP QBSUF EF FTUP /P TBCS¤B RV IBDFS FO . YJDPÃ EJDF .BHEJFM 3¤PT FO TV DBTB EF .JBNJ "1

i/0 4&3« '«$*-w &T MP RVF QJFOTB VO IPNCSF iTJO QBQFMFTw TPCSF MB QPTJCJMJEBE EF RVF 5SVNQ iFYQVMTFw B NJMMPOFT EF JOEPDVNFOUBEPT EF &TUBEPT 6OJEPT

1PS 1BCMP EF -MBOP &M 1B½T

$

JODP IPSBT EFTQV¹T EF RVF %POBME 5SVNQ EJFSB TV EJTDVSTP EF WFODFEPS FO /VFWB :PSL FM NFYJDBOP 1FESP .VÁP[ IBD½B TV DPMBEB FO VOB MBWBOEFS½B EF .JBNJ /P UJFOF QBQFMFT QFSP UJFOF SPQB RVF MB WBS Z MB WJEB TJHVF DPNP TJFNQSF EFTEF RVF MMFHÂ IBDF BÁPT i:P OP UFOHP NJFEP 4PNPT N²T EF EJF[ NJMMPOFT EF JOEP DVNFOUBEPT Z OP MF WB B TFS UBO G²DJM BM TFÁPS 5SVNQ TBDBSOPT EF &TUBEPT 6OJEPTw EJDF .VÁP[ DPDJOFSP EF BÁPT i{: RV¹ WBO B IBDFS TJ CPUBO B MPT IJTQBOPT w TF QSFHVOUB B TV MBEP MB FODBSHBEB EF MB MBWBOEFS½B i4F MFT WBO B RVFEBS MPT SFTUBVSBOUFT TJO NFTFSPT Z DPO MPT HFSFOUFT NJSBOEP QBSB MPT DMJFOUFT TJO TBCFS RV¹ IBDFSw .VÁP[ SFMBUJWJ[B MB OPUJDJB RVF IB JNQBDUBEP BM NVOEP FOUFSP i7FSFNPT RV¹ QBTB $PNP EJDFO %JPT QPOF Z FM EJBCMP EFTDPNQPOFw &OUSB +PT¹ -VJT (VBUFNBMUFDP MMFHÂ IBDF TFJT BÁPT QPS 5F YBT FTDBQBOEP EF MB WJPMFODJB EF TV QB½T /P UJFOF QBQFMFT OJ NV DIP RVF EFDJS $PDJOB FO VO SFTUBVSBOUF JUBMJBOP -F HVTUB &TUB EPT 6OJEPT i&T CPOJUP BD²w : MB QMBZB i0I T½ MB QMBZBw 1PS MB WFOUBOB TF WF MB BWFOJEB "MUPO 3PBE &M US²GJDP OPS NBM MPT DPDIFT EFQPSUJWPT OPSNBMFT EF MB HFOUF DPO EJOFSP MBT QBMNFSBT .JBNJ #FBDI DPNP DVBMRVJFS PUSP E½B .VÁP[ TBDB TV SPQB EF MB TFDBEPSB MB NFUF FO EPT CPMTBT Z TBMF EF WVFMUB B DBTB 1BOUBMPOFT DPSUPT VO DSVDJGJKP DPMHBOEP EFM DVFMMP &O MB MBWBOEFS½B TF RVFEBO PUSPT DMJFOUFT MBUJOPT Z MB UFMFWJ TJÂO FODFOEJEB $PO QFSJPEJTUBT Z BOBMJTUBT QSFHVOU²OEPTF DÂ NP HBOÂ 5SVNQ -BT MBWBEPSBT HJSBOEP $BNJOB .VÁP[ TJO SFHVMBSJ[BS QFSP DPO EPDVNFOUPT GBMTPT RVF TF DPNQSBO FO FM NFSDBEP OFHSP Z TJSWFO QBSB FODPOUSBS USB CBKP iOP UF MPT DIFDBOw DPO VOB CBODBSSPUB B TVT FTQBMEBT RVF MPHSÂ TVQFSBS IBDF VOPT BÁPT i"IPSB UFOHP PUSB WF[ DJODP UBSKFUBT EF DS¹EJUP Z DS¹EJUP FO UJFOEBT .BDZ T FO 8BMNBSU FO "NB[PO /P NF FTU² ZFOEP NBMw

)B JOUFOUBEP MFHBMJ[BSTF i1FSP MPT USFT BCPHBEPT B MPT RVF MFT DPOTVMU¹ NF IBO EJDIP MP NJTNP OP IBZ QPTJCJMJEBE QBSB UJ MB ÈOJDB GPSNB FT RVF UF DBTFTw {: QPS RV¹ OP TF DBTB 1PSRVF UF QJEFO NVDIP EJOFSP QBSB DBTBSTF :P OP UFOHP NJM EÂMBSFT &M NFYJDBOP 1FESP .VÁP[ DBNJOB USBORVJMP QPS MB "N¹SJ DB EFM E½B EFTQV¹T QPS MB "N¹SJDB EFM E½B QSJNFSP EFM IPNCSF RVF MMBNÂ iWJPMBEPSFTw B MPT NFYJDBOPT -MFHB B DBTB Z EFTQJFSUB B TV DPNQBÁFSP EF BQBSUBNFOUP .BHEJFM 3½PT BÁPT UBNCJ¹O NFYJDBOP UBNCJ¹O DPDJOFSP UBNCJ¹O JOEPDVNFOUBEP 3½PT TF EFTQFHB MBT T²CBOBT TF WJTUF TF QPOF B DIBSMBS i" N½ "N¹SJDB NF FODBOUB 4J QVEJFSB NF RVFEBS½B UPEB MB WJEB 1FSP TJ 5SVNQ DVNQMF TV QSPNFTB TF BDBCÂ NJ TVFÁP BNFSJDBOP : MP QFPS FT RVF ZB GPSNP QBSUF EF FTUP /P TBCS½B RV¹ JS B IBDFS B .¹YJDPw i"RV½ UPEP FT CPOJUP FO SFBMJEBEw BÁBEF .VÁP[ {: UJFOF NJFEP B TFS EFQPSUBEP .BHEJFM 4½ DÂNP OP $SFFO RVF DVBOEP 5SVNQ BTVNB MB QSFTJEFODJB MPT DPOUSP MFT EF EPDVNFOUPT TFS²O N²T TFWFSPT i&O DVBMRVJFS MVHBS EPO EF VOP WBZB B QFEJS USBCBKP UFOES² RVF QBTBS FM TJTUFNB EF WFSJ GJDBDJÂO Z MB HFOUF ZB OP DPOTFHVJS² FNQMFPTw JNBHJOB 3½PT i6OPT TF JS²O QPS TV QSPQJB DVFOUB " PUSPT MPT EFQPSUBS²O FM E½B FO RVF MPT BHBSSFO DPOEVDJFOEP TJO MJDFODJBw %PT HBUPT NJSBO QPS MB WFOUBOB 6O QFSSP NJDSPTDÂQJDP DJS DVMB QPS MB TBMB $PNQBSUFO DPO VO HVBUFNBMUFDP TJO QBQFMFT FM QFRVFÁP BQBSUBNFOUP QPS FM RVF QBHBO NJM EÂMBSFT BM NFT i6OP OP FTU² BRV½ EF HSBUJTw TF RVFKB 3½PT i6OP QBHB UBTBT QB HB SFOUB DPOTVNF FO MBT UJFOEBT 4J OPT FYQVMTBO WBO B QFSEFS NVDIP EJOFSPw i1FSP TF UJFOFO RVF JSw EJKP 5SVNQ FO DVBOEP BSSBO DBCB TV DBNQBÁB QBSB TFS QSFTJEFOUF EF &TUBEPT 6OJEPT i/P QP EFNPT EFKBS RVF TJHBO BQSPWFDI²OEPTF EF OPTPUSPTw

{#"+"3« &- 50/0 &YJTUF DJFSUB FTQFSBO[B EF RVF %POBME 5SVNQ TFB NÈT DPODJMJBEPS


1~(*/" #

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

%PNJOHP EF OPWJFNCSF EF

&/3*26& 50644"*/5 "/"-*45" 10-¶5*$0

"/«-*4*4

{1PS RV¥ WPUBSPO

103 536.1 &M NBHOBUF MPHSª DPOWFSUJSTF FO FM EFQPTJUBSJP EFM WPUP EFM IBTU¤P Z FM EFTDPOUFOUP BOUF VO TJTUFNB RVF FT WJTUP DPNP DPSSVQUP

Ü1

SFGJFSP WPUBS QPS VO MPDP RVF QPS VO DPSSVQ UPw TF MFF FO VOB QBODBSUB EF VO TJNQBUJ[BO UF EF %POBME 5SVNQ &O QPDBT QBMBCSBT TJN CPMJ[B MB EJTZVOUJWB RVF FOGSFOUBSPO NVDIPT FMFDUPSFT BNFSJDBOPT &T DJFSUP FO &TUBEPT 6OJEPT QFSWJWF VO WPUP SBDJTUB RVF S²QJEBNFOUF DPOFDUÂ DPO FM NBH OBUF &T DJFSUP UBNCJ¹O IBZ TFHNFOUPT EFNPHS²GJDPT FO &TUBEPT 6OJEPT NJTÂHJOPT RVF OP DPODFC½BO B VOB NVKFS FO MB $BTB #MBODB : FT DJFSUP RVF 0CBNB IFSFEB CVFOBT DVFOUBT QFSP RVF IBZ NJMMP OFT EF BNFSJDBOPT RVF TF TJFOUFO PMWJEBEPT QPS TV 1SFTJEFOUF 4JO FNCBSHP MP RVF FYQMJDB FM USJVOGP EF 5SVNQ OP TF SFEVDF B MPT WP UBOUFT SBDJTUBT RVF TJFNQSF IBO FYJTUJEP QFSP RVF OVODB IBO TJEP VOB NBZPS½B FO MB 6OJÂO "NFSJDBOB 4J OP BOBMJ[BNPT B GPOEP MPT SFTVMUBEPT EF MB DPOUJFOEB EFM QBTBEP NBSUFT DPSSFNPT FM SJFTHP EF QFOTBS RVF MPT FTUBEPVOJEFOTFT TPO VOB CPMB EF SBDJTUBT YFOÂGPCPT OBUJWJTUBT Z N²T BEKFUJWPT RVF TJ CJFO BQMJDBO QBSB BMHVOPT OVODB IBO TJEP FM GJFM EF MB CBMBO[B FO VOB FMFDDJÂO 5SVNQ HBOB NFOPT QPS MP RVF IJ[P Z N²T QPS MP RVF )JMMBSZ $MJO UPO OP QVEP IBDFS -PT EBUPT TPO B QSVFCB EF CBMBT -PT EFNÂDSBUBT OP WPUBSPO -PT TJNQBUJ[BOUFT EF MB BHFOEB MJCFSBM TF RVFEBSPO FO TV DBTB -B FY TFDSFUBSJB EF FTUBEP DPOTJHVJÂ NJMMPOFT EF WPUPT RVF TPO OVFWF NJMMPOFT NFOPT RVF MPT RVF PCUVWP 0CBNB FO &T EFDJS EF DBEB DJFO WPUBOUFT RVF TF NPWJMJ[BSPO QPS 0CBNB EJ KFSPO iOPw B $MJOUPO -B TBOHS½B EF WPUPT FT QBSUJDVMBSNFOUF EPMPSP TB FO iFTUBEPT DPMVNQJPw BRVFMMPT RVF DBNCJBO EF VO QBSUJEP B PUSP DPNP 'MPSJEB V 0IJP 1PEFNPT EJTDVUJS TJ TF EFCF B MB OPSNBMJ[BDJÂO EF MBT SFMBDJPOFT DPO $VCB FO FM DBTP EFM QSJNFSP P B MB BQVFTUB QPS FOFSH½BT SFOPWBCMFT EF MB BENJOJTUSBDJÂO 0CBNB FO FM TFHVOEP QF SP MP JOEFCBUJCMF FT RVF $MJOUPO OP DPOFDUÂ OJ DPO MPT TVZPT 1PS FMMP 5SVNQ TF DPOWJFSUF FO FM 1SFTJEFOUF OÈNFSP EF MB IJTUPSJB EF &T UBEPT 6OJEPT DPO NFOPT WPUPT RVF .JUU 3PNOFZ P +PIO .D $BJO 5SVNQ TVQP NPWJMJ[BS BM WPUBOUF CMBODP USBCBKBEPS GVF FM EF TVT WPUBOUFT QFSP OP IBZ RVF QFSEFS EF WJTUB RVF MPT WPUPT PCUFOJEPT QPS 5SVNQ EJTUBO NVDIP EF TFS IJTUÂSJDPT -B DBOEJEBUB EFNÂDSBUB OP MPHSÂ RVJUBSTF MB FTUBNQB EF TFS VO U½UFSF EFM FTUBCMJTINFOU BNFSJDBOP Z HMPCBM &O VO DPOUFYUP FMFDUP SBM QPMBSJ[BEP EF FOPKP DPO MBT ¹MJUFT RVF HPCJFSOBO &TUBEPT 6OJEPT )JMMBSZ OVODB TVQVTP VOB BMUFSOBUJWB BM PSEFO QPM½UJDP WJHFOUF 4V SF MBUP OP FNPDJPOBCB OJ B TVT OJDIPT N²T QSÂYJNPT 1BSFD½B RVF MPT FMFDUPSFT EFNÂDSBUBT WPUBCBO DPO MB OBSJ[ UBQBEB N²T QPS FWJUBS RVF MMFHBSB VO FOFSHÈNFOP B MB $BTB #MBODB RVF QPS MPT BUSJCVUPT QBSUJ DVMBSFT EF )JMMBSZ &M WPUP EF MBT NVKFSFT FT VO DBTP NVZ QBSUJDVMBS EF MBT NVKFSFT CMBODBT FO &TUBEPT 6OJEPT WPUBSPO QPS 5SVNQ QVOUPT N²T RVF QPS MB DBOEJEBUB EFNÂDSBUB : TÂMP TVQFSP QPS DJODP QVOUPT B 5SVNQ FO FM WPUP GFNFOJOP DPO FTUVEJPT VOJWFSTJUB SJPT " QFTBS EF MPT FTD²OEBMPT RVF EFNPTUSBCBO MB NJTPHJOJB EF 5SVNQ )JMMBSZ OP MPHSÂ DPOFDUBS DPO MBT NVKFSFT FMFDUPS DMBWF QB SB FOUFOEFS MPT USJVOGPT EF 0CBNB FO Z -PT BGSPBNFSJDBOPT UBNQPDP TF FOUVTJBTNBSPO DPO )JMMBSZ &T DJFSUP WPUBSPO NBTJWBNFOUF QPS FMMB QFSP OJ DFSDB EFM BQPZP B 0CBNB : N²T BMM² EF FTP VOP EF DBEB TJFUF BGSPBNFSJDB OPT RVF T½ TBMJFSPO B WPUBS FO FO FTUB PDBTJÂO QBTBSPO B FOHSP TBS MBT GJMBT EFM BCTUFODJPOJTNP -PT D²MDVMPT QSFWJPT B MB FMFDDJÂO TFÁBMBCBO RVF FO BMHVOPT FTUBEPT DMBWF )JMMBSZ OFDFTJUBCB TVQFSBS FM EFM WPUP BGSP QBSB PCUFOFS MPT EFMFHBEPT "M GJOBM OJ FM NJFEP B 5SVNQ TVQVTP VO JODFOUJWP QBSB WPUBS QPS MB DBOEJEBUB EFNÂDSB UB $PO MPT MBUJOPT NJMMPOFT EF FMFDUPSFT SFHJTUSBEPT QBTÂ BMHP TJ NJMBS EF DBEB FMFDUPSFT TPO EF PSJHFO MBUJOP )JMMBSZ B QFTBS EFM GBOUBTNB 5SVNQ QBSB MPT FMFDUPSFT MBUJOPT UVWP NFOPT BQPZP RVF

0CBNB FO FTUF TFHNFOUP -BT FODVFT UBT EF TBMJEB NVFTUSBO RVF EF DBEB MBUJOPT SFTQBMEBSPO B MB EFNÂDSB UB TFJT QVOUPT NFOPT RVF FO : QBSBEÂKJDBNFOUF 5SVNQ MPHSÂ N²T BQPZP EF MPT MBUJOPT RVF 3PNOFZ 6OP EF DBEB DVBUSP FMFDUPSFT FT BGSP P MBUJOP Z )JMMBSZ OP MPHSÂ DPOFDUBS DPO FMMPT DPNP MP IJ[P 0CBNB /PT QPEFNPT JS TFHNFOUP QPS TFHNFOUP EF MB QPCMBDJÂO BNFSJDBOB Z OPT QFSDBUBSFNPT RVF )JMMBSZ QFSEJÂ WPUPT FO UPEBT QBSUFT )BTUB FO FM WPUP CMBODP 0CBNB PCUVWP N²T BQPZP RVF TV FY TFDSFUBSJB EF &TUBEP %FUS²T EF FT UBT DJGSBT IBZ VOB SFBMJEBE JOOFHBCMF MB QPM½UJDB FTU² DBNCJBOEP EF NPEP WFSUJHJOP TP -BT DPPSEFOBEBT QPM½UJDBT TF NVFWFO Z BIP SB MBT JEFOUJEBEFT TF DPOGJHVSBO EF GPSNB EJTUJOUB RVF BOUFT -BT FYQFSJFODJBT EFM #SFYJU FM SFGFS¹OEVN FO $PMPNCJB EFNVFTUSBO RVF MPT QVFCMPT FTU²O BQPTUBO EP QPS BRVFMMBT PQDJPOFT QPM½UJDBT RVF SFQSFTFOUBO FM EFTBG½P BM TJTUFNB FTUBCMFDJEP -B JODPSSFDDJÂO QPM½UJDB NBSHJOBM QPS E¹DBEBT IPZ TF DPOWJFSUF FO VOB PQDJÂO QPTJCMF BOUF FM EFTDS¹EJUP EF MPT QP M½UJDPT Z MPT QBSUJEPT USBEJDJPOBMFT )BDF BMHVOPT E½BT FO VOB FOUSF WJTUB UFMFWJTJWB /BPNJ ,MFJO MB BVUPSB EF MJCSPT DPNP iMB EPDUSJOB EFM TIPDLw P iOP MPHPw RVF TF WFOEFO DPNP QBO DBMJFOUF FO UPEP FM NVOEP EFD½B i$BEB WF[ N²T TF DPOGJHVSB VOB NBZPS½B BOUJTJTUFNB FO FM NVOEP DBEB WF[ FT N²T FT VOB PQDJÂO NBZPSJUBSJBw -B SFBDDJÂO BOUF VOB ¹MJUF RVF FT QFSDJCJEB DPNP DPSSVQUB Z QB SBTJUBSJB UJFOF FTQFDJBM GVFS[B FO MB FMFDDJÂO RVF BDBCBNPT EF WJWJS FO &TUBEPT 6OJEPT -PT FMFDUPSFT EF MB HSBO NBTB DFOUSBM EF MPT &T UBEPT 6OJEPT TF SFCFMBSPO DPOUSB MP FTUBCMFDJEP MB JONJOFOUF WJDUP SJB EF )JMMBSZ /P TÂMP EF MPT FMFDUPSFT EF .POUBOB P .JTTJTTJQQJ TJ OP UBNCJ¹O EF MBT FOUSBÁBT EFM MMBNBEP iNVSP B[VMw FTUBEPT RVF USBEJDJPOBMNFOUF WPUBCBO FO NBTB QPS MPT EFNÂDSBUBT DPNP 8JT DPOTJO P 1FOTJMWBOJB 6OB DVSJPTB BSUJDVMBDJÂO FOUSF FMFDUPSFT SJDPT GBWPSBCMFT B 5SVNQ Z USBCBKBEPSFT QPCSFT SVSBMFT MF QFSNJUJFSPO BM NBHOBUF DPOGJHVSBS TV SFBDDJÂO BM TJTUFNB 5SVNQ FNPDJPOÂ B VOB QBSUF EF MPT iPMWJEBEPTw USBCBKBEPSFT BNFSJDBOPT RVF TF TJFOUFO EFT QSPUFHJEPT BOUF MB HMPCBMJ[BDJÂO FYDMVJEPT EF MBT PQPSUVOJEBEFT FDP OÂNJDBT Z OJOHVOFBEPT BENJOJTUSBDJÂO USBT BENJOJTUSBDJÂO /P OJF HP FM QFTP EFM WPUP SBDJTUB BI½ FTU² FM BQPZP EFM ,V LMVY LM²O Z MB GJFTUB RVF PSHBOJ[BSPO BOUF MB WJDUPSJB EF 5SVNQ QFSP RVJFO IJ[P MB EJGF SFODJB GVF FTF USBCBKBEPS SVSBM RVF BCPSSFDF FM MJCSF DPNFSDJP Z RVF TJFOUF B TVT ¹MJUFT DPNP FOUSFHVJTUBT EF MB TPCFSBO½B EF TV QB½T 5SVNQ HBOÂ QPSRVF FOGSFOUF UFO½B B VOB DBOEJEBUB TJO BMUFSOB UJWBT /P T¹ TJ #FSOJF 4BOEFST SJWBM EF )JMMBSZ FO MBT QSJNBSJBT EFNÂ DSBUBT IVCJFSB UFOJEP VO NFKPS SFTVMUBEP 1PTJCMFNFOUF T½ UBNCJ¹O FT VO BOUJTJTUFNB QFSP QPS MB J[RVJFSEB $PNQBSUFO VOB QBSUF EFM EJBHOÂTUJDP 5SVNQ Z 4BOEFST QFSP MBT TPMVDJPOFT B MPT QSPCMFNBT EF &TUBEPT 6OJEPT TPO EJBNFUSBMNFOUF PQVFTUBT /P PCTUBOUF FT JMVT USBUJWP RVF BOUF MB BNFOB[B EF MPT DBOEJEBUPT BOUJTJTUFNB FM FTUB CMJTINFOU FO UPEP FM NVOEP TF WB RVFEBOEP DPO VOB TPMB BSNB FM NJFEP -B QPM½UJDB EFM NJFEP /P EJHP RVF 5SVNQ OP OPT EFCB EF EBS NJFEP %FTEF TV WJDUPSJB FM SBDJTNP Z MB YFOPGPCJB QBSFDFO BERVJSJS DBSUB EF OBUVSBMJ[BDJÂO FO &TUBEPT 6OJEPT /P EJHP RVF OP EFCBNPT UFOFS NJFEP B VO MPDP DPO BSNBT OVDMFBSFT B TV EJTQPTJDJÂO : OP EJ HP RVF OP UFOHBNPT RVF UFOFS NJFEP B VO SBDJTUB RVF RVJFSF QPOFS

, "Ê Ê1 Ê -* / ", Õ> Ê*> >À "UNPTG¹SJDBT %FTQFEJEBT RVF OVODB TPO UBSE½BT SFDVFSEPT JOEFMFCMFT EF VO CVFO E½B FO FM RVF B MB TPNCSB EF VO KBSE½O UBQBU½P BQBSFDJÂ QBSB UPEB MB WJEB MB FO¹SHJDB QSFTFODJB EF VO NBFTUSP RVF CJFO DPOPD½B MPT ²SCPMFT CJFO QSPDVSBCB TV BNJTUBE JO RVFCSBOUBCMF DPNP MB RVF TVQP TVTDJUBS FO MPT RVF TJO TBCFSMP UPEBW½B BERVJSJFSPO CBKP FTB Q¹SHPMB FODFOEJEB MB DPOEJDJÂO EF TFS TVT EJTD½QVMPT QFS EVSBCMFT "MHP EJKP TPCSF MPT MJNPOFT BMHP TPCSF MPT MJRVJE²NCBSFT DPO MPT RVF USBOTGJHVSÂ FOUFSB MB DVBESB EF TV DBTB %F MBT CVHBOWJMJBT Z MPT BSSBZB OFT TBC½B NVDIBT DPTBT Z EF MPT B[VMFKPT RVF QSFT UBCBO TV TVOUVPTB IVNJMEBE B MPT QBUJPT FO VOP EF MPT RVF IBC½B USFT TJMMBT EF QBMP EPT USFO[BT EF OJ ÁBy #JFO RVF MPT BSRVJUFDUPT EFM WJBEVDUP TFHVJS²O BDPSE²OEPTF UFRVJMB USBT UFRVJMB -FPOBSE $PIFO OP TF NVSJÂ -FPOBSE $PIFO BDBCB EF NPSJSTF 7JBKBOEP MJHFSP EJDF DVBOEP MB DBODJÂO DPNJFO[B -PT QPFUBT N²T BMUPT OP DPOP DFO MB NVFSUF Z MB DPOPDFO NFKPS RVF OBEJF 4V WP[ EFKB BTUJMMBT MVNJOPTBT DMBWBEBT QPS TJFNQSF FO FM DPSB[ÂO EF MPT RVF MPT PZFO "TUJMMBT EF GVFHP BTUJ MMBT EF IJFMP 'SBHNFOUPT JNBOUBEPT RVF TFÁBMBS²O QPS TJFNQSF FM SVNCP MBT WFSFEBT MBT QMBOJDJFT ²SJ EBT EFM FYUSBW½P MBT MBEFSBT EF MB BNBSHVSB MPT QSB EPT EF MB EJG½DJM EJDIB -PT DBOUBOUFT EJTQBSBO CB MBT EF USBZFDUPT JOFTQFSBEPT B WFDFT JOGJOJUPT "MHVOBT DBFO TPCSF FM UFKBEP EJTUSBZFOEP CSFWF NFOUF MB IJQOPTJT EFM OBJQF EFTUJOBEP B QFSEFS PUSBT EFSSVNCBO TJO SVJEP B BMHÈO USBOTFÈOUF TÈ CJUBNFOUF FODFOEJEP : VOBT CBMBT N²T FOWVFMUBT FO CSPODBT UPOBEBT FO WFSTPT FODSFTQBEPT EBS²O TJFNQSF FO MB EJBOB EF MB GSFOUF EJDUBS²O EF QPS WJ EB MBT EFSSPUBT EF MPT RVF BT½ GVFSPO IFSJEPT .FEMFZ QBSB FM DPOTPMBNJFOUP 'SBHNFOUPT MJ CSFNFOUF USBEVDJEPT Z NF[DMBEPT EF MB EFTQFEJEB EFM QPFUB FTRVJSMBT EF DBODJPOFT EF TV FOUSFHB ÈM UJNB .²T PTDVSP MP RVJFSFT " MP RVF TF FOUJFOEF

UPEP FT VOB DPOUJOVBEB JODSFQBDJÂO VO QMJFHP QF UJUPSJP VOB SFOEJDJÂO VOB BMBCBO[B 6OB QPTUSFSB NJSBEB FM SFQBTP EF MPT BÁPT Z MPT PEJPT Z MPT BNP SFT MPT TPOJEPT Z MBT QBMBCSBT MMFWBEPT DPNP VO I² CJUP EF MVNCSF : GJOBMNFOUF EFQPTJUBEPT BM GJMP EFM WVFMP BM CPSEF EF MB WJEB WFOJEFSB 4J 5È EBT MBT DBSUBT &TUPZ GVFSB EF KVFHP 4J FSFT FM RVF DVSB 3PUP TPZ Z CBMEBEP 4J UVZB FT MB HMPSJB &T N½B FOUPODFT MB QFOB .²T PTDVSP MP RVJFSFT .BUBSFNPT MB GMBNB )JO¹OJ )JO¹OJ &TUPZ QSFTUP 4FÁPS 5F IF WJTUP UPSOBS FM BHVB FO WJOP : UBNCJ¹O UF IF WJTUP WPMWFSMP BHVB PUSB WF[ " UV NFTB NF TJFOUP DBEB OPDIF -P JOUFOUP QFSP OPN²T OP NF QSFOEP DPOUJHP #BJMBO FO MBT DBMMFT FT FM +VCJMFP 1PS BNPS OPT WFOEJNPT QFSP BIPSB TPNPT MJCSFT -BNFOUP QPS FM FTQ½SJUV FO RVF UF DPOWFSU½ /PN²T VOP EF OPTPUSPT FSB SFBM oZ ¹TF GVJ ZP 2VJTJFSB RVF VO USBUBEP IVCJFSB RVF GJSNBS /P NF JNQPSUB RVJFO UPNB MB DPMJOB EF TBOHSF *SBDVOEP FTUPZ Z TJFNQSF DBOTBEP 2VJTJFSB RVF VO USBUBEP IVCJFSB 2VJTJFSB RVF VO USBUBEP IVCJFSB &OUSF UV BNPS Z FM N½P 5V EFNFOUF GSBHBODJB OPT SPEFBCB 5VT TFDSFUPT UPEPT B MB WJTUB .J Q¹SEJEB NJ Q¹SEJEB DMBNBCB FODVFOUSP .J OP MP IBHBT JCB EJDJFOEP IB[ )BC½BO EF EBS B NJ DPSB[ÂO VOB NFEBMMB 1PS IBCFSUF EFKBEP JS $VBOEP WPMW½ MB FTQBMEB BM EFNPOJP -B WPMW½ BM ²OHFM UBNCJ¹O 1FMFBCB DPO MB UFOUBDJÂO 1FSP OP RVFS½B HBOBS 6O IPNCSF DPNP ZP OP RVJFSF WFS

*-6453"$*»/ t + -»1&;

NVSPT QPS EPRVJFS &NQFSP MB BNFOB[B OP TÂMP TF DPNCBUF DPO NJF EP " MPT JOUPMFSBOUFT OP TÂMP TF MFT DPNCBUF B USBW¹T EF BUFSSPSJ[BS B MBT TPDJFEBEFT 5BNCJ¹O MB FTQFSBO[B FT VO CVFO BOU½EPUP "I½ SFTJEF FM HSBO GSBDBTP EF )JMMBSZ OP TVQP N²T RVF BHJUBS FM NJFEP &M SFMBUP EF MB EFNÂDSBUB OVODB TVQVTP VOB BMUFSOBUJWB QBSB FM FMFDUPS &O MPT EFCBUFT )JMMBSZ IBCMÂ N²T EF MB JODBQBDJEBE NFO UBM EF 5SVNQ QBSB MMFWBS MBT SJFOEBT EF &TUBEPT 6OJEPT RVF EF MPT QSPCMFNBT SFBMFT EF MPT BNFSJDBOPT /VODB GVF WJTUB DPNP VO SFNF EJP B MB EFTJHVBMEBE DPNP VOB NFEJDJOB BOUF FM EFTFODBOUP P DPNP MB DBOEJEBUB JEFBM QBSB SFHFOFSBS B VO FTUBCMJTINFOU WJTUP DPNP DP SSVQUP )JMMBSZ EFD½B WBNPT B DBNCJBS UBM DPTB Z MP RVF QFOTBCBO NV DIPT WPUBOUFT FT UÈ FSFT 8BMM 4USFFU MPT CBODPT Z MB DBSB N²T TJNCÂ MJDB EFM TJTUFNB $VBOEP UV ÈOJDP BSHVNFOUP FT BHJUBS FM NJFEP BMHP TFSJP QBTB DPO UV QSPZFDUP QPM½UJDP &O QPM½UJDB FTU² QBTBOEP MP JNQPTJCMF -PT M½NJUFT EF MP JNBHJOB CMF TF IBO FOTBODIBEP &O EJDJFNCSF MPT JUBMJBOPT WPUBO QPS VOB SF GPSNB QPM½UJDB QSPQVFTUB QPS FM 1SJNFS .JOJTUSP .BUUFP 3FO[J Z TV SFDIB[P QPES½B IBDFS DBFS BM (PCJFSOP Z BCSJS TFSJBT QPTJCJMJEBEFT EF RVF FM .PWJNJFOUP $JODP &TUSFMMBT TF GPSUBMF[DB EF DBSB B VOB DJ UB FMFDUPSBM {: RV¹ EFDJNPT EF 'SBODJB 7PUBO FO BCSJM QSJNFSB WVFM UB Z FO NBZP TFHVOEB WVFMUB DPO MB YFOÂGPCB .BSJOF -F 1FO FO DBCF[BOEP UPEPT MPT TPOEFPT EF JOUFODJÂO EF WPUPT Z MPT TPDJBMJTUBT EF )PMMBOEF QPS MB DBMMF EF MB BNBSHVSB &M NVOEP TF NVFWF IBDJB FM GPSUBMFDJNJFOUP EF MBT PQDJPOFT QPM½UJDBT RVF EFTBG½BO BM TJTUFNB Z TVT DPOTFOTPT "MHVOBT EF FTBT PQDJPOFT EFTBG½BO BM TJTUFNB QBSB CVTDBS NFKPS USBUP B MPT NJHSBOUFT VOB FDPOPN½B N²T KVTUB BNQMJB DJÂO EF MJCFSUBEFT Z N²T QB[ 4JO FNCBSHP IBZ PUSBT PQDJPOFT BOUJ TJTUFNB DPNP 5SVNQ P -F 1FO RVF EFTBG½BO BM TJTUFNB DPNP GPSNB EF WVFMUB BM QBTBEP BM NVOEP EF MPT NVSPT BM SBDJTNP Z B MB DFSSB [ÂO DVMUVSBM 5JFOF SB[ÂO ,MFJO MPT BOUJTJTUFNB TF FTU²O WPMWJFOEP NBZPS½B Z NJFOUSBT OP TVSKBO PQDJPOFT QPM½UJDBT UPMFSBOUFT DPO MB EJ WFSTJEBE Z DPNQSPNFUJEBT DPO VO NVOEP FO QB[ RVF UBNCJ¹O DVFT UJPOFO FM TJTUFNB MPT 5SVNQ TFHVJS²O HBOBOEP FMFDDJPOFT : DPOWJS UJFOEP OVFTUSP NVOEP FO VO FTQBDJP BÈO N²T QFMJHSPTP

$ÂNP MB UFOUBDJÂO TF SJOEF "CBOEPOP MB NFTB &TUPZ GVFSB EF KVFHP /P DPOP[DP B MB HFOUF %F UV QPSUBSSFUSBUPT 4J BMHVOB WF[ UF RVJTF &T VO HSBWF EFTBTUSF 4J BMHVOB WF[ UF RVJTF 4J TVQJFSB UV OPNCSF /P PDVQP VOB SB[ÂO 1BSB WPMWFSNF MP RVF TPZ 5FOHP FTUBT FYDVTBT 4PO WJFKBT Z USVODBT /P PDVQP VO QFSEÂO /P RVFEB OBEJF B DVMQBS %FKP MB CBUBMMB &TUPZ GVFSB EF KVFHP 4J UV BNPS ZP OP UVWJFSB 1BSB UPEP WPMWFSMP SFBM 4J UPEBT MBT FTUSFMMBT GVFSBO EFTQSFOEJEBT : VO BNBSHP Z IFMBEP WJFOUP 4F USBHBSB BM NVOEP 4JO EFKBS MB NFOPS USB[B 4J OJOHVOB IPKB UVWJFSB FM ²SCPM /JOHVOB BHVB FO FM NBS : FM BNBOFDFS OBEB QVEJFSB SFWFMBS &T BT½ EPOEF FTUBS½B -P RVF NJ WJEB QBSFDJFSB FOUPODFT 4J OP QVEJFSB MFWBOUBS FM WFMP : WFS UV DBSB 7JBKP MJWJBOP &T IBTUB MB WJTUB .J BMHVOB WF[ UBO CSJMMBOUF .J DB½EB FTUSFMMB 4F NF IBDF UBSEF 7BO B DFSSBS FM CBS %POEF TPM½B UPDBS 6OB CSBW½B HVJUBSSB 4VQPOHP TÂMP TFS "MHVJFO RVF 4F IB SFOEJEP %F UJ Z EF N½ : OP FTUPZ TPMP &ODPOUS¹ VOPT DVBOUPT 7JBKBOEP MJWJBOPT DPNP -P IBD½BNPT UÈ Z ZP 1FSP TJ FM DBNJOP -MFWB EF WVFMUB B UJ

%FCFS¹ PMWJEBS -BT DPTBT EF MBT RVF TVQF $VBOEP UVWF MB BNJTUBE %F VOB P EPT 2VF WJBKBCBO MJWJBOBT DPNP -P IBD½BNPT UÈ Z ZP 1BSFDJÂ FM N²T BMUP DBNJOP $VBOEP QSJNFSP MP P½ IBCMBS 1FSP BIPSB FT N²T RVF UBSEF 1BSB WPMUFBS MB PUSB NFKJMMB .F QSFHVOUP MP RVF FSB .F QSFHVOUP RV¹ TJHOJGJDBCB 1SJNFSP M UPDBCB DPO FM BNPS 1FSP MVFHP UPDBCB DPO MB NVFSUF .FKPS EFUFOES¹ NJ MFOHVB .FKPS UPNBS¹ NJ MVHBS -FWBOUBS¹ FTUB DPQB EF TBOHSF 5SBUBS¹ EF EBS HSBDJBT (PCJFSOB UV DBNJOP FOUSF MBT SVJOBT %FM "MUBS Z FM "USJP (PCJFSOB UV DBNJOP FOUSF MBT G²CVMBT %F MB $SFBDJÂO Z MB $B½EB (PCJFSOB UV DBNJOP QPS MPT QBMBDJPT 2VF TF BM[BO TPCSF MB QPESF "ÁP DPO BÁP .FT B NFT %½B QPS E½B 1FOTBNJFOUP B QFOTBNJFOUP 5PEBW½B NVSNVSBO MBT IFSJEBT QJFESBT -BT NFMMBEBT NPOUBÁBT TPMMP[BO "T½ DPNP M NVSJÂ QBSB TBOUJGJDBS B MPT IPNCSFT .VSBNPT BIPSB QBSB WPMWFS MBT DPTBT USJWJBMFT : EJHBNPT FM .FB $VMQB RVF 5È QSPCBCMFNFOUF IBT PMWJEBEP "ÁP DPO BÁP .FT B NFT %½B QPS E½B 1FOTBNJFOUP B QFOTBNJFOUP 2VJTJFSB RVF VO USBUBEP IVCJFSB RVF QVEJ¹SB NPT GJSNBS 4F BDBCÂ BIPSB FM BHVB Z FM WJOP &TU²CBNPT SPUPT FOUPODFT QFSP BIPSB MMFHB NPT BM CPSEF : RVJTJFSB RVF VO USBUBEP IVCJFSB 2VJTJFSB RVF VO USBUBEP IVCJFSB &OUSF 5V BNPS Z FM N½P KQBMPNBS!JOGPSNBEPS DPN NY


%PNJOHP EF OPWJFNCSF EF

8* ", "Ê Ê 1 " Õ iÀ Ê i > >ÀÞ &TP EF RVF MF SFQJUBO VOB Z PUSB WF[ BM BEJDUP RVF EF CF EF EFKBS TV WJDJP FT FO SFBMJEBE JOÈUJM Z BDBCB QPS TFS VO FOGBEP "EFN²T EF RVF OP TJSWF EF OBEB &TU² NVZ FYUFOEJEB MB JEFB EF RVF TJ UF UFOHP DPOGJBO[B NF IF EF BDFSDBS BM BEJDUP QBSB EFDJSMF RVF ZB MF QBSF RVF FTU² IBDJFOEP NBM 2VF IBHB VO FTGVFS[P $PNP TJ FM RVF TF MP EJKFSBO GVF SB B IBDFS VOB TFÁBM QBSB RVF FOUPODFT TJ DPNJFO DF B UPNBSTF FO TFSJP FM UFNB EF MB SFIBCJMJUBDJÂO 4JO FNCBSHP QBSB NVDIPT BGFDUBEPT EF BMHVOB EF MBT JOOVNFSBCMFT BEJDDJPOFT FM RVF VO

1~(*/" #

&- */'03."%03

QBSJFOUF P BNJHP TF BDFSRVF DPO FTF GJO SFTVMUB VO WFSEBEFSP NBMFTUBS 1PSRVF BEFN²T FT BMHP RVF OP TF MP QJEJÂ FM BEJDUP 3FHVMBSNFOUF FT JOJDJBUJWB OP TPMJDJUBEB : TVFMF DBFS CBTUBOUF NBM $PNP TVDF EF UBNCJ¹O DPO MPT DPOTFKPT Z PQJOJPOFT RVF TF EBO TJO TFS QFEJEPT "M RVF MF HVTUB CFCFS MF JODPNPEB RVF MF FTU¹O SFDPSEBOEP TV GPSNB EF JOHFSJS Z RVF BEFN²T BQSPWFDIFO QBSB FDIBSMF VOP RVF PUSP TFSNÂO -P ÈOJDP RVF HFOFSB FT RVF FM UPNBEPS CVTRVF MB NB OFSB EF EBSMF MB WVFMUB Z USBUBS EF EFTIBDFSTF EF UP

Õ µÕiÊ iÊ Ã ÃÌ> EPT FTPT NPMFTUPT QSFEJDBEPSFT EFM CJFO )F DPOPDJEP BEJDUPT RVF FOUSF N²T MFT EJ DFO RVF EFKF BMHP N²T MP IBDFO $PNP RVF MFT OB DF VO PSHVMMP KVOUP B MBT HBOBT EF DPOUSBEFDJS B UP EPT MPT RVF TF TJFOUFO DPO MB BVUPSJEBE EF FTUBS SFQSPDIBOEP 1PS FTP OP FT VOB NFEJEB BEFDVBEB FM FT UBS JOTJTUJFOEP RVF TF EFKF VOB BEJDDJÂO 4JO MB WPMVOUBE Z MB FYQM½DJUB EFDJTJÂO EF MB QFSTPOB BEJDUB OP IBCS² NBOFSB EF RVF MP EFKF : FT NVDIP N²T QSPCBCMF RVF TF JODSFNFOUF TV OF

DFEBE TJ MB HFOUF EF TV BMSFEFEPS TF QSPDMBNB FO VOB FTQFDJF EF TBMWBEPS 1PS MP RVF IBZ RVF FWJUBS FTF TFOUJNJFOUP EF FOGBEP Z NPMFTUJB RVF QPEFNPT PDBTJPOBS MPT GBNJ MJBSFT B WFDFT NPUJWBEPT QPS MB DVMQB FM EFCFS NP SBM P MB SFTQPOTBCJMJEBE QBUFSOB EF FTUBS FODJNB EFM BEJDUP DPO QSPDMBNBT Z DS½UJDBT B TVT I²CJUPT 1VFEF UFOFS NFKPS FGFDUP FM USBUBSMP DPO SFTQFUP DBSJÁP Z PCTFRVJBOEP DPOGJBO[B Z DFSDB O½B 2VF DPOWFSUJSTF FO FM NBMFTUBS DPUJEJBOP EFM RVF IBZ RVF IVJS

9 ,Ê "-

6 - $ Ê9Ê - $

>À ÃÊ À }Õi

>À ÃÊ ÀÌjÃÊ6?âµÕiâ

º >Ê> i >â>ÊÀÕL >»Ê

>Ê À>Ê`iÊ >ÊÛiÀ`>`

4F TPMUBSPO MPT EFNPOJPT FO FM JNQFSJP Z FO WF[ NFOUF DPSSFDUPT FSB TVGJDJFOUF EFTDBMJGJDBDJÂO Z EF HBOBS %PÁB )JMBSJB FM WFODFEPS GVF %POBME NPUJWP EF SFTUBSMF QSPCBCJMJEBEFT BOUF MB TFÁPSB QFSP OP FM TJNQ²UJDP QBUP TJOP FM RVF QBSFD½B FM $MJOUPO B RVJFO DPOTJEFSBCBO VOB HFOUF QPM½UJDB N²T NBMP EF MPT NBMPT FO NJMMPOFUB %POBME NFOUF QSFQBSBEB UPEB TV WJEB QBSB MMFHBS BM QVFT 5SVNQ QFSTPOB RVF FODBSOB UPEPT MPT DBMJGJDBUJ UP BM RVF BTQJSBCB 1VFT RVF RVJFSF VTUFE RVF MPT HBCBDIPT DP WPT EF NBMEBE RVF FM DBTUFMMBOP QVFEF DPODFCJS TJ CJFO EF OJOHVOP TF QPE½B FTQFSBS OBEB CVFOP OPDJFOEP MPT OFGBTUPT BOUFDFEFOUFT EFM DBOEJEB UP Z MB CSJMMBOUF DBSSFSB EF MB DBOEJEBUB PQUBSPO 1FSP ¹M HBO Z WJWB FM SFZ $PNP ZB FT VOB USBEJDJÂO UPEBT MBT QSJODJQB QPS FM QSJNFSP FTUP FT RVF QSFGJSJFSPO B VO JN QSFTFOUBCMF RVF B VO QPM½UJDP MP DVBM MFT FODVFTUBT GBMMBSPO EFD½BO RVF TJHOJGJDB RVF FO UPEP FM NVOEP FM JO QPS QPRVJUP QFSP RVF MB NVKFS HBOB GFMJ[BKF FTU² IBSUP EF MPT TFHVOEPT MP S½B OP DSFP FO MBT FODVFTUBT OJ MBT DPOTJEFSP W²MJEBT QBSB NJT DPOTJEF Ê}> >` ÀÊÌi >ÊV Ê RVF FT TBCJEP QPS UPEPT DPO FYDFQ SBDJPOFT QFSP NF MBT FYQMJDP QPSRVF }À> ÊVÕ> `>`Êi ʵÕiÊ DJÂO EFTEF MVFHP EF MPT QPM½UJDPT RVF TJFNQSF TF TJFOUFO FYDFQUVBEPT EFM TJO FMMBT OP TFS½B DPODFCJCMF MB WJEB Õ V>Ê >L >Êà ` Ê Ê`iÊ TFÁBMBNJFOUP EF MPT DPNFOUBSJTUBT EF MPT NFEJPT ZB &M IFDIP FT RVF BNFOB[ EVSBO RVF FO UPEP FM UJFNQP RVF QSFDFEF B i ÃÊvÕ V >À Ê«ÖL V ]Ê UF MB DBNQBÁB B NFEJB IVNBOJEBE B MBT FMFDDJPOFT OP UFOES½BO OBEB EF ÊLÕÀ VÀ>Ì>]Ê Ê MPT DIJOPT B MPT NVTVMNBOFT B MPT RVF QMBUJDBS BEFN²T EF RVF EFCFO EF TFS VO CVFO OFHPDJP OP EJHP RVF GB V > L ÃÌ>Ê v V > ÊÞÊiÃ Ê PSJFOUBMFT Z B OPTPUSPT FO QMFOJUVE Z MMBSPO UPEBT QPSRVF IBZ UBOUBT RVF iÃÊà Ê`Õ`>ÊÕ Ê jÀ Ì BVORVF TBCFNPT RVF IBCJUVBMNFOUF MBT QSPNFTBT EF DBNQBÁB OP TF DVN N²T EF BMHVOB MF IBCS² BUJOBEP QFSP QMFO OJ BRV½ OJ BMM² QVFT BMHP MFT UJF MBT EF MVKP Z EF HSBOEFT NFEJPT MF GB OF RVF EBS B TVT FMFDUPSFT Z MBNFOUP MMBSPO %FCP FYDFQUVBS B BMHVOPT DP NFOUBSJTUBT V PQJOBEPSFT EF PSJHFO VOJWFSTJUB EFDJSMP OPTPUSPT TPNPT MB QBSUF N²T E¹CJM EF MB SJP B RVJFOFT FTDVDI¹ RVF UFO½BO EVEBT BM SFMBDJÂO Z TJ CJFO OP QVFEF DVNQMJS OJ MP EFM NV SP OJ MB EFQPSUBDJÂO TJ UJFOF FM QPEFS QPS UFOFS FM SFTQFDUP Z RVF BM GJOBM UVWJFSPO SB[ÂO &M HBOBEPS UFO½B DPNP HSBO DVBMJEBE FM RVF DPOUSPM EFM DPOHSFTP MB DBQBDJEBE BVORVF DPN OVODB IBC½B TJEP OJ EF MFKPT GVODJPOBSJP QÈCMJDP QMJDBEB EF DSFBS JNQVFTUPT UBMFT DPNP HSBWBS MBT OJ CVSÂDSBUB OJ DIBNCJTUB PGJDJBM Z FTP FT TJO EV SFNFTBT -B WFOUBKB FT RVF QPS TV FEBE OP DSFP EB VO N¹SJUP Z FO DPOUSB FM EF RVF FM TVKFUP FT VO BTQJSF B VOB GVUVSB SFFMFDDJÂO Z FTP KVTUJGJDBSB OP WFSEBEFSP CBSCBK²O BMFKBEP QPS DPNQMFUP EF MP DVNQMJS DPO MBT QSPNFTBT 1PS MP RVF UFOESFNPT RVF FTQFSBS QBSB WFS QPM½UJDBNFOUF DPSSFDUP BTJ MP BDVTBO EF SBDJTUB NJTÂHJOP HSPTFSP DPO MBT G¹NJOBT BOUJ NFYJDB RV¹ TVDFEF ZB RVF UPEP MP EFN²T TFS² FTQFDVMBS OP Z FO HFOFSBM DBTJ OB[J Z BQPZBEPS EFM DIBVWJ !DBSMPTNPSTB OJTNP FYUSFNP -P BOUFSJPS WJTUP QPS MPT QPM½UJDB

-B HSBO DBNQBÁB NFEJ²UJDB DVMNJOÂ DPO MB EF DJTJÂO FMFDUPSBM EBOEP DVSTP BM DVNQMJNJFOUP EF QSPNFTBT Z BNFOB[BT BM BNQBSP EF MB $BTB #MBODB -PT QSFDFEFOUFT TPO JOTÂMJUPT EFKBS²O PDIP BÁPT EF HPCJFSOP FODBCF[BEP QPS VO IPN CSF EF PSJHFO BGSPBNFSJDBOP MB BQFSUVSB B MB QPTUVMBDJÂO EFNÂDSBUB EF VOB NVKFS FO DPOUSB QPTJDJÂO SFQVCMJDBOB EF VO BHVFSSJEP FNQSFTB SJP USJVOGBEPS %POBME 5SVNQ 4J FO DVBMRVJFS QBSUF EFM NVOEP IBCS½B TP CSBEPT NPUJWPT EF FYQFDUBDJÂO FM PDVSSJS UBO JOTÂMJUPT GFOÂNFOPT FO FM QB½T EPOEF SFTJEFO QP EFSPTPT JOUFSFTFT FT QSPWPDBEPS EF DVJEBEPTB PCTFSWBDJÂO IBDJB MPT DVBUSP QVOUPT DBSEJOBMFT Z FO QBSUJDVMBS B MPT FTUBEPT MJN½USPGFT IBDJB FM /PSUF $BOBE² Z IBDJB FM 4VS FM OVFTUSP .¹YJDP &M EFTBG½P DPOTJTUF FO FNQMFBS EJHOBNFOUF MBT PQPSUVOJEBEFT Z DPO FM NJTNP TFOUJEP FMVEJS MPT SJFTHPT BNCPT TPCSFTBMJFOUFT QBSB MPT WFOJ EFSPT NFTFT Z BÁPT RVF FO OVFTUSP DBTP BUSBF S²O TVGSBHJPT QSPDFEFOUFT EF QPCMBDJÂO NFYJDB OB JORVJFUB QPS MPT PCTU²DVMPT JOUFSOPT FYQVFTUPT FO JOTFHVSJEBE Z QBSUJEPT QPM½UJDPT GSBDUVSBEPT QPS BDPOUFDJNJFOUPT EJWJTPSFT Z DB SFOUFT EF DMBSP MJEFSB[HP -B NFEJBDJÂO DPNVOJDBEPSB JODFOUJWB GÂS NVMBT EFGJOJEPSBT EF DBNCJPT SBEJDBMFT DPO USBOTQBSFOUF BHJMJEBE FOUSF MPT 1PEFSFT FNBOB EPT EF MB $POTUJUVDJÂO DVZP $FOUFOBSJP TF DVN QMJS² FM DPO TPCSFTBMJFOUF FYJHFODJB QPS MB SFTQPOTBCJMJEBE EF HPCFSOBOUFT Z HPCFSOBEPT FTUP FT BVUPSJEBEFT Z QPCMBDJÂO EPOEF SFTJEB MB DPSSFTQPOEJFOUF FYJHFODJB Z QPTUFSJPS DPOGJBO [B QSPQJDJBUPSJB EF EJ²MPHP DPOTUSVDUJWP -BT DPOEJDJPOFT FDPOÂNJDBT QSFWBMFDFO FO UPEPT MPT OJWFMFT VOPT DPO MB BOHVTUJB QPS GBMUB

"-Ê " ", -Ê Ê/ *" À > ` Ê â? iâÊ ÃV Ì

·1 Ê ÕiÛ Ê> > iViÀ¶ &O .¹YJDP FM TJTUFNB QPM½UJDP IB USJVOGBEP UPEP FM NVDIP RVF QPS PUSP MBEP MFT IVCJFTF CFOFGJDJB UJFNQP QPSRVF TJFNQSF IB MPHSBEP UPEBT MBT NFUBT EP EJDIP JNQFSJP RVF TF IB QSPQVFTUP MBNFOUBCMFNFOUF FOUSF FTBT 2VF IBZ RVF SFWJTBS FM 5-$ {Z QPS RV¹ OP NFUBT KBN²T IB GJHVSBEP MB QSPTQFSJEBE EF MB OB EFTDPOPDFSMP QPS DPNQMFUP 2VF BIPSB T½ EFCF DJÂO B OP TFS FO FM EJTDVSTP EF MBT JODPOUBCMFT DBN NPT TFOUJSOPT DPO BCTPMVUB MJCFSUBE QBSB OFHP QBÁBT Z MPT JOUFSNJOBCMFT TFYFOJPT DJBS Z SFOFHPDJBS DPO $IJOB B GJO EF &O DPOTFDVFODJB DJFOUPT EF NJ BTFHVSBS OVFTUSP QSPQJP KVFHP EF MFT EF NFYJDBOPT IBO NJHSBEP Z MP FRVJMJCSJPT EFTEF MVFHP TJO FTD²O TFHVJS²O IBDJFOEP FO CVTDB EF TJT ÕiÃÌÀ>Ê « ÀÌÕ `>`Ê ÃÊ EBMPT EF iDBTBT CMBODBTw GSBHVBEPT UFNBT FDPOÂNJDPT Z TPDJBMFT EPOEF Û i iÊ`i ÊiÃVi >À Ê FO &TUBEPT 6OJEPT QBSB MJNJUBS MBT FM FTGVFS[P MBCPSBM T½ USBJHB DPNP QPTJCJMJEBEFT EF .¹YJDP DPO FM HJ Õ ` > Ê` `iÊ >Ê DPOTFDVFODJB VO HFOVJOP QSPHSFTP HBOUF BTJ²UJDP 2VF IBZ RVF IBDFS } L> â>V Ê >Ê "IPSB FM QB½T UJFOF VOB OVFWB VO NVSPy ZB FYJTUF Z TF QBH DPO PQPSUVOJEBE DVZP QSJODJQJP FT SF ÃÕ«iÀ>` Êi Ê ÌiʵÕiÊ MPT JOUFSFTFT RVF .¹YJDP BQPSUB QPS DPOPDFS RVF EFTEF FM TJHMP 9*9 MB MB DSFDJEB EFVEB RVF UJFOF N²T CJFO « ÀÊÌ> Ì ÃÊ> ÃÊ NBZPS½B EF MPT HPCJFSOPT EF OVFTUSB IBCS½B RVF GPSUBMFDFSMP QBSB JNQF OBDJÂO TF TPNFUJFSPO WFSHPO[PTB ÃÕ«Õà iÀ Ê >ÃÊvÀ ÌiÀ>à EJS RVF FM QB½T WFDJOP TJHB QSFTU²O NFOUF B &TUBEPT 6OJEPT B DBNCJP EPMF EJOFSP BM HPCJFSOP FO UVSOP B EF SFDPOPDJNJFOUP EJQMPN²UJDP EF DBNCJP EF TVNJTJÂO Z WFKBDJPOFT BSNBT QBSB MBT UBOUBT HVFSSBT DJWJ "MHVOPT EJS²O QPS PUSP MBEP RVF MFT Z EF QS¹TUBNPT BM JOGJOJUP RVF FTUB QPTUVSB QPS GJO FM TFÁPS 1FÁB /JFUP MF BUJO B BMHP Z T½ BIP EF TVNJTJÂO IB UFOJEP FM BMUP DPTUP EF QFSQFUVBS SB QPES½B USBCBKBS DPNP QJUPOJTP EF MBT NBMBT OVF OVFTUSB EFQFOEFODJB IBDJ¹OEPMB DBEB WF[ N²T WBT P DPNP FKFNQMP EF TFSWJMJTNP BOUJDJQBEP IVNJMMBOUF Z EFQSFEBEPSB /VFTUSB PQPSUVOJEBE OPT WJFOF EFM FTDFOB BSNBOEP HPO!VOJWB NY SJP NVOEJBM EPOEF MB HMPCBMJ[BDJÂO IB TVQFSBEP FM M½NJUF RVF QPS UBOUPT BÁPT TVQVTJFSPO MBT GSPO UFSBT Z MBT DFSDBO½BT SFHJPOBMFT &M QSJNFS BDUP RVF .¹YJDP EFCFS½B DVNQMJS BIPSB NJTNP FT TP MJDJUBS TV JOHSFTP FO FM #3*$4 Z EF PCUFOFSMP QP OFS DPNP DPOEJDJÂO JOEJTQFOTBCMF RVF OJOHVOP EF TVT JOUFHSBOUFT QSFTUBSB VO TPMP DFOUBWP B OVFTUSP HPCJFSOP NJSBS BM #3*$4 FT BQSFOEFS B NJSBS IBDJB PUSPT IPSJ[POUFT KVTUP FO FM NPNFO UP FO RVF MBT JEFPMPH½BT IBO QBTBEP B TFHVOEP U¹SNJOP Z MP RVF QSFWBMFDF OP FT TÂMP FM JOUFS¹T NBUFSJBM TJOP MB QFSTQFDUJWB EF QSPHSFTP JHVBMJ UBSJP RVF ¹TUF HBSBOUJ[B USBFS $MBSP RVF QBSB SFQSPHSBNBS FM TJTUFNB TF SF RVJFSF NVDIP N²T RVF JEFBMJTNP TF SFRVJFSF BOUF UPEP GPSNBS OVFWPT MJEFSB[HPT EFKBS DPNP DPTB EF OVFTUSP QBTBEP US²HJDP FM TJTUFNB EF QBSUJEPT QPM½ UJDPT Z UPEP FM USFNFOEP EFTCBSBKVTUF RVF HPCJFS OPT QSPUFHJEPT Z DPCJKBEPT QPS &TUBEPT 6OJEPT IBO QSPWPDBEP FO .¹YJDP 3FDVQFSBS MB EJHOJEBE OP FT BTVOUP NFOPS ZB IFNPT WJTUP IBTUB RV¹ QVOUP MB IFNPT QFSEJ EP EFTEF FM NPNFOUP FO RVF FM QBTBEP QSPDFTP FMFDUPSBM OPSUFBNFSJDBOP DVCSJ QS²DUJDBNFOUF UPEBT MBT BHFOEBT JOGPSN²UJDBT NFYJDBOBT BT½ DPNP MPT EJTDVSTPT QPM½UJDPT Z FNQSFTBSJBMFT QPS TFNBOBT MPT BDUPSFT QÈCMJDPT IJDJFSPO BDUVBS BM QB½T DPNP QFSSP EF DBSOJDFS½B UFNJFOEP FM QB MP P QBS²OEPTF EF NBOPT QBSB BMDBO[BS FM IVFTP /FDFTJUBS½BNPT QSPEVDJS QFSTPOBKFT B MB BM UVSB EF .BIBUNB (BOEIJ RVJFO MPHS VOJS B VO QVFCMP QPCSF Z FOWJMFDJEP QBSB TBDVEJSTF OBEB NFOPT RVF MB PQSFTJÂO EFM JNQFSJP CSJU²OJDP QPS

EF SFDVSTPT BQMJDBCMFT B MP C²TJDP Z PUSPT QPS MB TFHVSJEBE EF JOWFSTJÂO QSPQJDJBUPSJB EF EFTB SSPMMP DPO MB DPSSFTQPOEJFOUF BQPSUBDJÂO BM FSB SJP FOGPDBEP BM EFTBSSPMMP EF JOGSBFTUSVDUVSB -PT BDPOUFDJNJFOUPT TFÁBMBO EFSSPUFSPT DPO SFDMBNP EF FGJDJFODJB Z FGFDUJWJEBE JOTDSJUB FO FM EJTDVSTP CJFO JOUFODJPOBEP Z MB BDDJÂO JN QVMTPSB EF PCKFUJWJEBE DSFBUJWB TVTUFOUBEB TJO FM NFOPS SFHBUFP FO MB DBQBDJEBE JOUFMFDUVBM TVT UFOUBEB FO FM IPHBS Z DVMUJWBEB FO FM BVMB DPO MBT SFGPSNBT Z QSPQVFTUBT N²T BRVFMMBT QSPWFOJFO UFT EF DPODJFSUP NVOEJBM EPOEF MPT DBNCJPT EJB SJPT TFÁBMBO OVFWPT EFSSPUFSPT Z DPO FMMPT MPT DBNCJPT B TFHVJS &YUSBÁPT OP EFCJFSBO TFS MPT BDPOUFDJNJFO UPT QSPQBMBEPT QPS MB DPNVOJDBDJÂO B USBW¹T EF NJMFT EF NFOTBKFT NBTJWPT Z EJSFDUPT B NJMMP OFT EF SFDFQUPSFT EJBSJPT FO RVJFOFT TF FTUJNV MBO DBNCJPT EF QFOTBNJFOUP Z BDUJUVE DPO NB ZPS SFGMFYJÂO DPNP OP IBC½B PDVSSJEP BOUFSJPSNFOUF DPO UBO BMUB NBHOJUVE -PT BOUF DFEFOUFT TPO SFGFSFODJBT MJO¹BMFT RVF EJFSPO DVSTP B MPT BDPOUFDJNJFOUPT EF TJHMPT Z NJMFOJPT QBTBEPT BVORVF TJO MB NBHOJUVE BDUVBM Z NFOPT BÈO DPO FM DPOPDJNJFOUP Z FNQMFP EF IFSSB NJFOUBT B EJTQPTJDJÂO EF MB IVNBOJEBE DPO TV SFTQFDUJWB EPTJT EF CFOFGJDJP QSPEVDUJWP P FWFO UVBM QFSKVJDJP QPS MB TVTUJUVDJÂO EF NBOP EF PCSB DBSFOUF EF DBQBDJEBE BDUVBMJ[BEB &O DVBMRVJFSB EF TVT FYQSFTJPOFT FM SF TVMUBEP FMFDUPSBM EFM WFDJOP EFM /PSUF PGSFDF NÈMUJQMFT FYQFDUBUJWBT FYJHFOUFT EF DVJEBEP TB BUFODJÂO %JPT OPT HVBSEF EF MB EJTDPSEJB TJDQN!JOGPSNBEPS DPN NY


1~(*/" #

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

%PNJOHP EF OPWJFNCSF EF

-&0/"3% $0)&/ VO WBMT FUFSOP 4JFNQSF TFS SFDPSEBEP DPNP FM ÂDBCBMMFSP EF MB N°TJDB Z VO HFOJP FO WJEBÃ

&'&

&

M QPFUB Z DBOUBVUPS DBOBEJFOTF -FP OBSE $PIFO FUFSOJ[Â TV WJODVMBDJÂO DPO (SBOBEB &TQBÁB DPO TV WFSTJÂO EFM i1FRVFÁP WBMT WJFO¹Tw EF (BSD½B -PSDB FO DVZB DBTB OBUBM IJ[P ZPHB Z GPSKÂ TV QBTJÂO QPS FM GMBNFODP DPO &OSJRVF .P SFOUF DVZB WJVEB IB EJDIP RVF iKVOUPT DPNQPO ES²O UFNBT BSSJCBw i4F WBO MPT HFOJPT Z OPT EFKBO IV¹SGBOPT EF BS UFw EFD½B MB WJVEB EF &OSJRVF .PSFOUF "VSPSB $BS CPOFMM USBT DPOPDFS FM GBMMFDJNJFOUP EFM DBOUBOUF $BSCPOFMM FYQMJDÂ RVF TV GBNJMJB SFGFSFOUF EFM GMBNFODP SFDVQFSB FM MVUP FNPDJPOBM USBT MB NVFS UF EF $PIFO BM RVF EFTDSJCJÂ DPNP iVO DBCBMMFSP FO MB NÈTJDB Z FO MB WJEB VO HFOJPw -B WJVEB EF &OSJRVF .PSFOUF SFDPSEÂ RVF DVBOEP MPT EPT BSUJTUBT TF DPOPDJFSPO iGVF N²HJ DP QPSRVF FSBO EPT QFSTPOBMJEBEFT NVZ GVFSUFT NVZ TFOTJCMFT Z EF VOB FMFHBODJB FTQFDJBMw Z DPOGJÂ FO RVF iKVOUPT DPNQPOES²O TV NÈTJDB Z OVFWPT UFNBT BMM½ BSSJCBw $PIFO MMFHÂ B (SBOBEB FO QBSB QSPNP DJPOBS TV QBSUJDJQBDJÂO FO FM EJTDP i1PFUBT FO /VFWB :PSLw EFEJDBEP B IPNFOBKFBS B (BSD½B -PSDB FM ²MCVN FO FM RVF TPOÂ QPS QSJNFSB WF[ TV i5BLF UIJT XBMU[w MB BEBQUBDJÂO EFM i1FRVFÁP WBMT WJFO¹Tw RVF MF DPTUÂ TFHÈO SFDPOPDJÂ FM BS UJTUB N²T EF VO DFOUFOBS EF GPMJPT UJSBEPT B MB CB TVSB Z VOB EFQSFTJÂO 1PDBT TFNBOBT BOUFT EF BRVFMMB WJTJUB BCS½B MBT QVFSUBT FM NVTFP $BTB /BUBM EFM BVUPS EF :FS NB EF 'VFOUF 7BRVFSPT (SBOBEB FM QSJNFSP EFT UJOBEP B FOTBM[BS MB GJHVSB EFM QPFUB Z ESBNBUVSHP 4V QSJNFS EJSFDUPS FM QPFUB Z QFSJPEJTUB HSB OBEJOP +VBO EF -PYB TVQP FOUPODFT RVF $PIFO FT UBCB FO MB DJVEBE EF MB "MIBNCSB Z MF QSPQVTP WJTJ UBS FM OVFWP NVTFP VOB iKPSOBEB NVZ FNPDJPOBOUFw RVF WJODVMÂ BÈO N²T BM DBOBEJFOTF DPO (SBOBEB -PSDB Z TV BSUF %F -PYB SFDPSEÂ BRVFM EF PDUVCSF EF DVBOEP VO $PIFO iBQBSFOUFNFOUF UBO TFSJP FMF HBOUF DPO TV USBKF PTDVSP DPNP VO MPSEw TF BEFO USÂ FO MBT NJTNBT FTUBODJBT FO MBT RVF DSFDJÂ 'FEF SJDP QBSB iCSJOEBSw DPO BHVB EFM QP[P Z QMBTNBS FO FM MJCSP EF GJSNBT FM EJCVKP EF VOB HVJUBSSB DPO TVT JOJDJBMFT Z MBT EFM BVUPS EF :FSNB BUSBWFTBEBT QPS VOB ÈOJDB GMFDIB i(SBDJBT QPS NBOUFOFS TV DBTB BCJFSUBw QVTP FO JOHM¹T $PIFO BOUFT EF EFKBSTF GPUPHSBGJBS KVOUP BM QJBOP EF MB $BTB .VTFP P DPOUFNQMBOEP MB QF RVFÁB DVOB EFM QPFUB i-F EFK¹ TPMP Z NF RVFE¹ TPSQSFOEJEP DVBOEP MP WJ FO FM HSBOFSP GSFOUF B VOB JNBHFO EF -PSDB IBDJFOEP ZPHB IBDJFOEP FM QJOP FO VOB JNBHFO RVF EFTQV¹T NF TPSQSFOEJÂ FO VO FTDBQBSBUF VO E½B RVF QBTFBCB QPS MB 2VJOUB "WFOJEB EF /VFWB :PSLw SFNFNPSÂ %F -PYB &M FOUPODFT EJSFDUPS EFM NVTFP MPSRVJBOP MF SF HBMÂ VO EJTDP EF .PSFOUF DPO QPFNBT EF .JHVFM )FSO²OEF[ Z TFNCSÂ MB TFNJMMB EF MP RVF MMFHÂ EFT QV¹T VOB BMJBO[B FUFSOB FOUSF iTFSFT JSSFQFUJCMFT RVF OP NVFSFOw i-F QPO½B B .PSFOUF DBODJPOFT EF $PIFO Z MF EFD½B RVF DVBOEP UVWJFSB MB WP[ N²T SPODB QPES½B DBOUBS DPNP ¹M Z TF SF½B B DBSDBKBEBT DPO FTB SJTB BMCBJDJOFSBw SFDPSEÂ %F -PYB &M EJSFDUPS EFM 1BUSPOBUP RVF HFTUJPOB FM .V TFP $BTB /BUBM Z FM $FOUSP EF &TUVEJPT -PSRVJBOPT "MGPOTP "MDBM² EFUBMMÂ RVF FM DBOBEJFOTF TFHVJS²

DPO .PSFOUF Z (BSD©B -PSDB /05*.&9

13&.*0 13¶/$*1& %& "4563*"4 )PZ DPOPDJEP DPNP FM 1SFNJP 1SJODFTB EF "TUVSJBT GVF FOUSFHBEP B $PIFO FO

QSFTFOUF FO TVT BDUJWJEBEFT DPNP VO NPUPS N²T EF MPT DFOUSPT QBSB FKFNQMJGJDBS FTF USJ²OHVMP iN² HJDPw FOUSF -PSDB .PSFOUF Z $PIFO

-F SJOEFO IPNFOBKF FO .POUSFBM $FOUFOBSFT EF QFSTPOBT IBO EFTGJMBEP FO MBT ÈMUJNBT IPSBT QPS MB DBTB EF -FPOBSE $PIFO FO .POUSFBM TV DJVEBE OBUBM QBSB DPONFNPSBS BM QPFUB Z DBOUBVUPS DBOBEJFOTF RVF NVSJÂ FTUF KVF WFT FO -PT OHFMFT B MPT BÁPT EF FEBE -B NPEFTUB DBTB RVF $PIFO DPNQSÂ FO MB E¹ DBEB EF MPT BÁPT TFUFOUB FO FM CBSSJP QPSUVHV¹T EF .POUSFBM TF IB DPOWFSUJEP FO FM MVHBS EF QFSFHSJ OBKF EF NVDIPT DBOBEJFOTFT RVF RVJFSFO SFOEJS USJCVUP B VOP EF MPT N²T USBOTDFOEFOUBMFT QPFUBT Z DBOUBOUFT EFM QB½T %FTEF RVF B QSJNFSBT IPSBT EF MB OPDIF EFM KVFWFT TF DPOPDJÂ MB NVFSUF EF $PIFO EFDFOBT EF QFSTPOBT IBO EFQPTJUBEP FO MBT FTDBMFSBT RVF EB BDDFTP B MB DBTB WFMBT GMPSFT Z GPUPHSBG½BT FO

TV IPOPS $PIFO RVF OBDJÂ FO FM N²T BGMVFOUF CBSSJP EF 0VUSFNPOU FO FM PFTUF EF .POUSFBM DPNQSÂ MB DB TB FO MB DBMMF .BSJF "OOF GSFOUF BM 1BSD EF 1PSUV HBM QPDP EFTQV¹T EF RVF QVCMJDBSB TV QSJNFS ²M CVN NVTJDBM i4POHT PG -FPOBSE $PIFOw 6OB EF MBT DBODJPOFT N²T DPOPDJEBT EF FTF ²M CVN Z EF MB USBZFDUPSJB EF $PIFO FSB i4P -POH .BSJBOOFw JOTQJSBEB FO TV NVTB .BSJBOOF *IMFO DPO RVJFO FM DBOUBVUPS WJWJÂ EVSBOUF BMHÈO UJFNQP FO .POUSFBM DFSDB EFM 1BSD EF 1PSUVHBM .JFOUSBT MPT USJCVUPT TJHVFO MMFHBOEP MB DJV EBE EF .POUSFBM IB FNQF[BEP B QMBOUFBSTF MB NF KPS GPSNB EF IPOSBS MB NFNPSJB EF $PIFO RVJFO OBDJÂ FO FM TFOP EF VOB GBNJMJB KVE½B PSJHJOBSJB EFM FTUF EF &VSPQB "MHVOPT IBO QSPQVFTUP RVF FM 1BSD EF 1PSUV HBM TFB SFOPNCSBEP FO TV IPOPS NJFOUSBT RVF PUSPT RVJFSFO RVF FM CBSSJP EF MB DJVEBE RVF DPO DFOUSB MPT FWFOUPT NVTJDBMFT BEPQUF TV OPNCSF

&M BMDBMEF EF .POUSFBM %FOJT $PEFSSF RVJFO DBTVBMNFOUF TF FODVFOUSB FO +FSVTBM¹O TFÁBMÂ FO 5XJUUFS RVF MPT FEJGJDJPT NVOJDJQBMFT POEFBS²O TVT CBOEFSBT B NFEJB BTUB Z RVF iOPT BTFHVSBSFNPT RVF SFOEJSFNPT USJCVUP DPNP EFCF TFS B VOP EF MPT N²T HSBOEFT DJVEBEBOPT EF .POUSFBMw 5BNCJ¹O IPZ FM $FOUSP /BDJPOBM EF "SUFT EF 0UUBXB POEFÂ TVT CBOEFSBT B NFEJB BTUB iQBSB SFOEJS USJCVUP B MB FYUSBPSEJOBSJB WJEB DBSSFSB Z MP HSPT BSU½TUJDPTw EF $PIFO 1PS TV QBSUF FM QSJNFS NJOJTUSP EF $BOBE² +VTUJO 5SVEFBV EJKP FO VO DPNVOJDBEP RVF i-FP OBSE $PIFO FT UBO SFMFWBOUF IPZ DPNP MP GVF FO MB E¹DBEB EF MPT TFTFOUB 4V DBQBDJEBE QBSB FWPDBS MB BNQMJB WBSJFEBE EF FNPDJPOFT IVNBOBT MF IJ[P VOP EF MPT NÈTJDPT N²T JOGMVZFOUFT Z EVSBEFSPT EF MB IJTUPSJBw i-FPOBSE MB QPFT½B Z NÈTJDB EF OJOHÈO PUSP BSUJTUB TF TJOUJÂ P TPOÂ DPNP MB UVZB 5F FDIBSFNPT EF NFOPTw BÁBEJÂ 5SVEFBV

&45"4 36*/"4 "/50/*0 0356º0 "1

6OPT WJFKPT EFTDPOPDJEPT

/

*/$0.13&/4*»/ 5SBT MBT FMFDDJPOFT FO &TUBEPT 6OJEPT QPDPT BOBMJTUBT QVEJFSPO BUJOBS Z FYQMJDBS TV SFTVMUBEP

VFTUSP DPOPDJNJFOUP EFM TJTUFNB FMFD UPSBM FTUBEPVOJEFOTF FT SBRV½UJDP 1PS QSJNFSP EF DVFOUBT QPSRVF FM EJDIPTP TJTUFNB FO FM RVF OP DVFOUB FM WPUP EJ SFDUP TJOP FM EF VO iDPMFHJP FMFDUPSBMw RVF TF DPOTUJUVZF TFHÈO VOB BTJHOB DJÂO NFEJP BCVTJWB EF MPT WPUPT FTUBUBMFT FTU² QFOTB EP DPNP QBSB MB *OHMBUFSSB PMJH²SRVJDB FO RVF TF JO WFOUÂ Z QPDP UJFOF RVF WFS DPO OVFTUSP QSPQJP TJTUFNB QPM½UJDP 1PS TFHVOEP EF DVFOUBT QPSRVF TJ VOB SFCB OBEB CBTUBOUF SPCVTUB EF MB QPCMBDJÂO NFYJDBOB TJ HVF TJO FOUFOEFS FM TJTUFNB FO RVF WPUB P FO FM RVF MP IBS½B TJ TF MF MMFHBSB B RVJUBS FM FTDFQUJDJTNP P MB GMPKFSB MVFHP EF BÁPT NVDIP NFOPT WB B FOUFOEFS FM EFM WFDJOP 4FHVSBNFOUF QPS FMMP FT RVF MB DBMJEBE EFM BO²MJTJT QPM½UJDP OBDJPOBM RVFEÂ FO FWJEFODJB MB OP DIF EF MBT FMFDDJPOFT QSFTJEFODJBMFT HSJOHBT OP IV CP VO NPOP FOUSF MBT EFDFOBT EF BOBMJTUBT EF QFSJÂ EJDPT QPSUBMFT P NFEJPT FMFDUSÂOJDPT RVF MF BUJOBSB BM SFTVMUBEP P RVF BM NFOPT DVBOEP TF EJP QVEJFSB FYQMJDBSMP EF NBOFSB DPOWJODFOUF 4VQPOHP RVF FTUP OP FT OVFWP $VBOEP FSB BMVN OP EF TFHVOEP EF QSJNBSJB MB NBFTUSB 3PTJUB MF QSP NFUJÂ VO QSFNJP BM BMVNOP RVF QVEJFSB SFTQPOEFS RVJ¹O FSB FM DBOEJEBUP EFNÂDSBUB RVF FOGSFOUBS½B B 3POBME 3FBHBO FO MBT FMFDDJPOFT EF -BT SFT QVFTUBT EF NJT QPDPT DPNQBÁFSPT RVF OP TF FODPHJF SPO EF IPNCSPT OP NF JNQPSUB EBSMFT FTUF RVFNÂO QPSRVF ZB OP DSV[P QBMBCSB DPO DBTJ OJOHVOP GVFSPO TPSQSFOEFOUFT BMHVOPT BQPTUBSPO QPS 4ZMWFTUFS 4UB MMPOF Z PUSPT QPS .JTUFS 5 EPT GPS[VEPT NVZ EF NP EB FO FM DJOF EF MB ¹QPDB :P GVJ FM ÈOJDP FO FM TBMÂO RVF SFTQPOEJÂ DPSSFDUBNFOUF FM DBOEJEBUP ZB PMWJ EBE½TJNP FSB FM FY TFOBEPS 8BMUFS .POEBMF B RVJFO QPS DJFSUP MF EJFSPO VOB QBMJ[B FO MBT VSOBT : OP OP GVF QPSRVF UVWJFSB QSPGVOEPT DPOPDJNJFOUPT EF MB

QPM½UJDB EF &6 OP DSFP RVF OBEJF MPT UFOHB B MPT TJF UF BÁPT TJOP QPSRVF NJ NBESF OP TF QFSE½B FM OPUJ DJFSP EF MBT NBÁBOBT Z BMM½ SFQFU½BO DBEB E½B FM OPN CSF EFM TVKFUP -P TPSQSFOEFOUF FO UPEP DBTP OP GVF NJ NFNPSJB TJOP RVF BMHVJFO QFOTBSB RVF FM BTQJ SBOUF FSB FM NJTN½TJNP 3BNCPy FM QSFNJP QPS DJFS UP OP GVF HSBO DPTB VOB CPMTB EF QBTUFMJUPT EF DSF NB QSPWFOJFOUF EF MPT FTUBOUFT EF MB iDPPQFSBUJWBw EF MB FTDVFMB &M EFTDPOPDJNJFOUP FTP T½ FT NVUVP -B NBZPS QBSUF EF MPT HSJOHPT RVF WJTJUBO FM QB½T TJFOUFO RVF FT U²O UFOJFOEP WJTJPOFT "VORVF FO HFOFSBM FTPT WJTJ UBOUFT OP UJFOFO MPT NJTNPT QSPCMFNBT QTJDPMÂHJDPT BM SFTQFDUP EF .¹YJDP Z TVT IBCJUBOUFT RVF NBOJGJFTUBO BMHVOPT EF TVT DPNQBUSJPUBT QPS BMHP FT RVF WJFOFO B MB QMBZJUB P TF RVFEBO JODMVTP B WJWJS FO MVHBSFT DPNP "KJKJD P 4BO .JHVFM EF "MMFOEF MP DJFSUP FT RVF FO MB DBCF[B MP RVF UJFOFO FT VO SFWPMUJKP FO RVF TF DPOGVO EFO FM TFÁPS RVF MFT BSSFHMB FM KBSE½O FO 8JDIJUB 'BMMT DPO MBT TPNCSBT EF 1BODIP 7JMMB 'SJEB ,BIMP $IBCF MB 7BSHBT 4BMNB )BZFL Z (BFM -BT JODPNQSFOTJPOFT TPO EF JEB Z WVFMUB QVFT 3F DVFSEP RVF VOB OJÁB RVF MMFHÂ B MB FTDVFMB FO RVJOUP EF QSJNBSJB SFDJ¹O EFTFNQBDBEB EF 'MPSJEB OPT QSFTVN½B RVF FO MB UFMFWJTJÂO MBUJOB EF BMM² IBC½B QSPHSBNBT EF UFMFWJTJÂO CVFO½TJNPT JODPNQBSBCMFT $VBOEP 4²CBEP (JHBOUF DPNFO[Â B TFS USBOTNJUJEP FO .¹YJDP OP QP E½BNPT DSFFS RVF BRVFMMB QPSRVFS½B TPQPS½GFSB GVFSB FM EJDIPTP TIPX RVF UBOUP NFOUÂy "VORVF BMHVOB TPTQF DIB EFCJÂ IBCFS MFWBOUBEP FM IFDIP EF RVF TV QSPHSB NB QSFGFSJEP EF MB UFMFWJTJÂO NFYJDBOB GVFSB BZ TV DPO USBQBSUF MPDBM 4JFNQSF FO %PNJOHPy .F UFNP RVF QPS FTF UJQP EF BOUFDFEFOUFT FT QPS MP RVF GVJ JODBQB[ EF DSFFSMF B OJOHVOP EF MPT BOBMJT UBT MPDBMFT RVF UPDÂ FM UFNB 5SVNQ : DPNP BM GJOBM UP EPT GBMMBSPO TFHVJS¹ JOTUBMBEP FO FM FTDFQUJDJTNP


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.