Tapatío 16 de octubre 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

#

4&$$* /

0-*7* 0-*7*&3 (3044&5³5& #64$" *.13&4*0/"3 #64$ " -04 " -04 5"1"5¶04 1ÈHJOB DVBUSP

&- */'03."%03 t ( ("--0

Supervisor: Mario Castillo mario.castillo@informador.com.mx

?Q=@ANJK @A HA?PQN=

GUADALAJARA, JAL., DOMINGO 16 DE OCTUBRE DE 2016

" " 04 EF TFS VO ©DPOP

"3$)*70 t &- */'03."%03

1PS +PSHF 1¹SF[

"

MB MFKBO½B TVT EPT UPSSFT TPO MB SFGFSFODJB HFPHS²GJDB JONF EJBUB QBSB JOEJDBS FM $FOUSP EF MB DJVEBE -B DBQJUBM EF +B MJTDP UJFOF FO TV $FOUSP )JTUÂSJDP B TV FNCMFN²UJDP FEJ GJDJP TBDSP MB $BUFESBM EF (VBEBMBKBSB &TUF BÁP TF DVNQMFO BÁPT EF TV DPOTBHSBDJÂO DPNP UBM TVDF EJEB FM EF PDUVCSF EF 4V OPNCSF PGJDJBM DB TJ EFTDPOPDJEP QBSB MB NBZPS½B EF MPT GFMJHSFTFT FT FM EF $BUFESBM EF MB "TVODJÂO EF .BS½B 4BOU½TJNB Z GVOHF DPNP TFEF EF MB "SRVJEJÂDFTJT EF (VB EBMBKBSB 5SJDFOUFOBSJB DPNP DBUFESBM TV QBTBEP TF SFNPOUB VO QPDP N²T BUS²T FO FM UJFNQP DVBOEP BQFOBT IBC½BO QBTBEP VOBT EFDF OBT EF BÁPT EF IBCFSTF JOTUBVSBEP MB $P MPOJB FO FM BIPSB UFSSJUPSJP NFYJDBOP "M JHVBM RVF MB GVOEBDJÂO EF (VBEBMBKBSB TVDFEJÂ WBSJBT WFDFT BOUFT EF BTFOUBS TF FO FTUF WBMMF MB JOTUBVSBDJÂO EF TV DBUFESBM UVWP VOB QSJNFSB TFEF FO FM RVF BIPSB FT FM 5FNQMP EF 4BOUB .BS½B EF (SBDJB &TUB TFEF QSP WJTJPOBM EF MB DBUFESBM TV JOTUBVSÂ B DPNJFO[PT EF MB E¹DBEB EF QFSP WFJOUF BÁPT N²T UBSEF DPNFO[BS½B MB DPOTUSVDDJÂO EF MB TJHVJFOUF NPSBEB &M EFTUJOP FTUBCB NBSDBEP QBSB FTB FG½ NFSB DBUFESBM RVF QBTÂ B MB IJTUPSJB USBT DPOTVNJSTF QPS VO JO DFOEJP {&M NPUJWP &M GVFHP GVF QSPWPDBEP BDDJEFOUBMNFOUF QPS WFDJOPT EFM SFDJOUP QPS VUJMJ[BS QJSPUFDOJB $PSS½B FM BÁP EF &M WBD½P SFMJHJPTP RVF EFKÂ FM JNQSPWJTUP GVF NBZPS EFM RVF TF IVCJFSB QFOTBEP TJ MBT FEJGJDBDJPOFT EF MBT QSJNFSBT DBUFESB MFT TVDFEJFSPO FO QPDP N²T EF BÁPT DBEB VOB MB UFSDFSB Z EFGJOJUJWB UFOES½B RVF FTQFSBS QPDP N²T EFM TJHMP Z NFEJP -B EFNPSB BDBCÂ DVBOEP GJOBMNFOUF TF DPODSFUÂ FM QSPZFDUP B NB OPT EFM BSRVJUFDUP .BSU½O $BTJMMBT EF BMM½ FM OPNCSF EFM UFBUSP RVF IPOSB TV BQPSUF B MB DJVEBE ZB FO MPT BMCPSFT FM TJHMP 97** %FCJEP FO QBSUF B MB EFNPSB Z FO QBSUF B RVF MBT UFOEFO DJBT Z NPEBT BSRVJUFDUÂOJDBT UBSEBCBO FO BSSJCBS Z BTJNJMBSTF IBTUB FTUPT MBSFT BM HSBEP RVF TF NF[DMBCBO TJO UPO OJ TPO MB DB UFESBM PTUFOUB VOB NJYUVSB EF FTUJMPT /FPDM²TJDP VO QPDP EF CB SSPDP NPSJTDP Z FM JOUFSJPS EF FTUJMP HÂUJDPy FTUB EJWFSTJEBE IB TJEP BSHVNFOUP FO TV DPOUSB QPS QBSUF EF MPT EFUSBDUPSFT -B EJT USJCVDJÂO EF TV FTQBDJP JOUFSJPS FT EF USFT OBWFT iCBTJMJDBMw FO MB UFSNJOPMPH½B 6OB DBSBDUFS½TUJDB EF MPT FEJGJDJPT IJTUÂSJDPT FT RVF QFTF B IBCFS TPCSFWJWJEP TVFMFO UFOFS NBSDBT QPS FM QBTP EFM UJFNQP P SFHJTUSPT EF DBNCJPT NFOPSFT QFSP UBNCJ¹O B WFDFT TVTUBO DJBMFT -B DBUFESBM UBQBU½B PTUFOUB VO FTUJMP BSRVJUFDUÂOJDP EF DPOUSBTUF BÈO NBZPS EFCJEP B RVF TVT JDÂOJDBT UPSSFT OP TPO MBT PSJHJOBMFT $VFTUB DSFFSMP QFSP FTB TJMVFUB RVF SFTVMUB FO VO TJ

-B $BUFESBM EF (VBEBMBKBSB IB UFOJEP VO TJHOJGJDBEP NVZ FTQFDJBM QBSB MPT UBQBU¤PT B MP MBSHP EF USFT TJHMPT OÂOJNP EF MB DJVEBE TF PSJHJOÂ DPO MB BEFOEB EF MBT UPSSFT DPOT USVJEBT B NFEJBEPT EFM TJHMP 9*9 -BT UPSSFT QBSFD½BO FTUBS TFMMBEBT QPS FM EFTUJOP BM SFDPOT USVJSTF USFT WFDFT DPNP TVDFEJÂ DPO MB DBUFESBM FO TV UPUBMJ EBE &TUBT UPSSFT RVF DPOPDFNPT GVFSPO DPOTUSVJEBT MVFHP EF VO TJTNP FO DVBOEP TF QFSEJFSPO MBT UPSSFT RVF EFDFOJPT BUS²T TF IBC½BO SFDPOTUSVJEP USBT VO QSJNFS UFSSFNPUP RVF DBV TÂ FTUSBHPT FO MB FTUSVDUVSB PSJHJOBM &M JOUFSJPS EF MB DBUFESBM HVBSEB TFDSFUPT Z FODBOUPT EJH OPT EF TV NBHOJUVE EFTUBDB QPS TV IJTUPSJB FM PCTFRVJP EF $BS MPT 7 MB 7JSHFO EF MB 3PTB BEFN²T EF VO $SJTUP EF NBSGJM Z ÂMFPT Z EFN²T QJOUVSBT RVF IBDFO EF FTUB NPSBEB EF MB GF UBNCJ¹O VOB HBMFS½B EF BSUF TBDSP -B TBDSJTU½B TV DBQJMMB MB TBMB DBQJ UVMBS TPO PUSPT EF MPT TJUJPT EF MB DBUFESBM EPOEF TF HVBSEBO MBT QJF[BT JODMVTP IBZ NVSBMFT Z VOB DPQJB EF 3BGBFM TJFNQSF DPO FM UFNB SFMJHJPTP DPNP NPUJWP DFOUSBM W½SHFOFT MB ÈMUJNB DF OB TBOUPT FUD¹UFSB Z DPO WBSJPT TJHMPT EF BOUJHÊFEBE MP RVF MFT EB VO WBMPS BÈO NBZPS -B FCBOJTUFS½B FTU² QSFTFOUF DPO MBT TJMMBT FO NBEFSB UBMMBEB DFSDBOP BM BMUBS Z SFTFSWBEBT QBSB MPT JOWJUBEPT FTQFDJBMFT 4JO EVEB VO FMFNFOUP RVF DPSPOB FM JOUFSJPS EF MB DBUF ESBM FT TV ÂSHBOP CJDFOUFOBSJP VOP EF MPT N²T HSBOEFT EF .¹ YJDP Z RVF DPO GSFDVFODJB SFTVFOB &M NBHOP JOTUSVNFOUP IB TJEP FM QSFUFYUP JEÂOFP QBSB RVF MB DBUFESBM TFB TFEF EF DPO DJFSUPT Z GFTUJWBMFT EF ÂSHBOP RVF QSPNVFWFO MB NÈTJDB TBDSB 6O UFNB RVF BUFSSB B N²T EF BMHVOP FT FM EF MBT DSJQUBT Z OP FT QBSB NFOPT DPNP UPEP SFDJOUP EF UBMFT DVBMJEBEFT TVT QBSUFT JOGFSJPSFT GVODJPOBO DPNP iDBNQPTBOUPw FT EFDJS DP NP FM EFQÂTJUP EF MPT SFTUPT NPSUBMFT 1FSP FM UFSSFOP EF MB DB UFESBM OP FTUVWP EFTUJOBEP B SFTHVBSEBS MPT DBE²WFSFT EF DVBM RVJFS QFSTPOB -B DSJQUB EF MPT BS[PCJTQPT DPNP TV OPNCSF MP EJDF FTU² EFTUJOBEB B MPT TBDFSEPUFT RVF BMDBO[BO EJDIP SBO HP 4F FODVFOUSB EFCBKP EFM DPSP Z BVORVF TV OPNCSF EJDF iBS [PCJTQPTw OP TF DJÁF TÂMP B FMMPT QVFT UBNCJ¹O IBZ DBSEFOB MFT -B NBKFTUVPTJEBE EF MB DBUFESBM OP TFS½B MB NJTNB TJO TV FOUPSOP RVF UBNCJ¹O TF IB WJTUP OPUBCMFNFOUF NPEJGJDBEP $PNP Q¹SEJEB TF TVFMF NFODJPOBS TV BNQMJP BUSJP RVF UVWP EFTEF TV JOBVHVSBDJÂO IBTUB QPDP EFTQV¹T EFM JOJDJP EF MB SF WPMVDJÂO $PNP HBOBODJB VO HSBO DBNCJP FO TVT BMSFEFEPSFT MB UPNÂ DPNP FM FKF QBSB FM EJTFÁP EF MB DPOPDJEB iDSV[ EF QMB

[BTw RVF UPNB B MB DBUFESBM DPNP FM DFOUSP

&M FOUPSOP JEFBM &O FM NBQB EF MB i(VBEBMBKBSB RVF GVFw MBT NBO[BOBT RVF SPEFBO B MB DBUFESBM HP[BO EF QPQVMBSJEBE QVFT FM BS RVJUFDUP *HOBDJP %½B[ .PSBMFT QMBOJGJDÂ MB EFNPMJDJÂO EF MPT JONVFCMFT DJSDVOEBOUFT QBSB EPUBS B MB DBUFESBM EF MBT QMB[BT RVF MB FTDPMUBO -PT GPUÂHSBGPT Z FM OFHPDJP EF MBT QPTUBMFT BHSBEFDFO FM HFTUP QFSP MB ;POB .FUSPQPMJUBOB EF (VBEBMBKBSB QFSEJÂ WBSJPT FEJGJDJPT BMM² QPS " FTQBM EBT GSFOUF BM 5FBUSP %FHPMMBEP IBC½B EPT NBO[BOBT RVF EFTBQBSFDJFSPO QBSB DSFBS MB 1MB[B -JCFSBDJÂO &O VOB EF FMMBT FTUVWP FM 1BMBDJP $BÁFEP VO IPHBS RVF UBNCJ¹O GVF DPOPDJEP DPO FM NPUF EF MB i$BTB EF MPT )VFTJUPTw DPO VOB DPOTUSVDDJÂO EFM TJHMP 9*9 " VO DPTUBEP EPOEF BIPSB TF VCJDB MB 3PUPOEB EF MPT +BMJTDJFOTFT *MVTUSFT IVCP VO QBS EF Q¹SEJEBT QSJNFSP FM 5FNQMP EF MB 4PMFEBE ZB TBCFNPT RVF BOUBÁP TF DPOTUSV½BO UFNQMPT TJO JNQPSUBS MB DFSDBO½B EF PUSPT BEFN²T EFM FEJGJDJP EF DPSSFPT &O GSFOUF MB DPOT USVDDJÂO RVF TF EFSSJCÂ FSB EF GJOFT DPNFSDJBMFT DPO VO FT UJMP U½QJDP EFM QPSGJSJBUP Z RVF BMCFSHBCB BM $JOF -VY FO UPODFT MB TBMB EF DJOF EF NBZPS QSFTUJHJP FO MB VSCF

"DUJWJEBEFT %FOUSP EFM NBSDP EFM $VSTP EF *OGPSNBDJÂO TPCSF (VBEBMBKBSB B SFBMJ[BSTF FO MB TBMB EF DBCJMEPT EF MB 1SFTJ EFODJB .VOJDJQBM TF QSFTFOUBS²O DPOGFSFODJBT NBHJTUSBMFT DVZB UFN²UJDB TF DFOUSBS² FO MB DBUFESBM -B HFTUJÂO FT EFM %F QBSUBNFOUP EF &TUVEJPT )JTUÂSJDPT EF MB "SRVJEJÂDFTJT EF (VBEBMBKBSB &M MVOFT EF PDUVCSF IPSBT TF QSFTFO UBS² -PT FTUVEJPT JOUFSEJTDJQMJOBSJPT EF MB $BUFESBM EF (VB EBMBKBSB DPO FM EPDUPS "SUVSP $BNBDIP #FDFSSB "M E½B TJ HVJFOUF B MB NJTNB IPSB UFOES² MVHBS MB DIBSMB &M FYQFEJFOUF EF MB G²CSJDB NBUFSJBM EF MB $BQJMMB EF MB 1VS½TJNB EF MB $BUF ESBM UBQBU½B DPO +PT¹ "MGPOTP "ZBMB .VÁP[ 1BSB FM NJ¹SDP MFT %BOJFMB (VUJ¹SSF[ $SV[ DPOUJOVBS² DPO -B PSHBOJ[B DJÂO Z TJTUFNBUJ[BDJÂO EF MBT GVFOUFT QBSB FM FTUVEJP EF MB $BUFESBM EF (VBEBMBKBSB QBSB GJOBMNFOUF UFSNJOBS FM WJFS OFT DPO FM QSFTC½UFSP 5PN²T EF )½KBS 0SOFMBT Z MB QSFTFO UBDJÂO EF 'VFOUFT EPDVNFOUBMFT DPOUSBTUBOUFT MB VCJDBDJÂO EF MBT TFEFT QSPWJTJPOBMFT EF MB $BUFESBM EF (VBEBMBKBSB


1~(*/" #

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

%PNJOHP EF PDUVCSF EF

&/3*26& 50644"*/5 "/"-*45" 10-¶5*$0

"/«-*4*4

-" 16/5"

"3$)*70 t &- */'03."%03 " ("3$¶"

%&- *$&#&3( &M FTD OEBMP EF MPT BVEJPT RVF JOWPMVDSBO BM BDUVBM QSFTJEFOUF EFM 4VQSFNP 5SJCVOBM FT TªMP MB DPOGJSNBDJªO EFM FYUSBW¤P JOTUJUVDJPOBM EFM 1PEFS +VEJDJBM FO +BMJTDP

&

TDVDIBS B MB DBCF[B EFM 1PEFS +VEJDJBM JOUFSDFEFS QPS EPT QSFTVOUPT EFMJODVFOUFT TJNCPMJ[B NVDIB EF MB PQBDJEBE RVF BGFDUB BM ²NCJUP EF MB KVTUJDJB FO +BMJTDP -VJT $BSMPT 7FHB 1²NBOFT OJFHB IBCFS JOUFSDFEJEP EJDF RVF CVTDBCB BTFHVSBS FM EFCJEP QSPDFTP EF EPT QSFTVOUPT EFMJODVFOUFT EFUFOJEPT QPS MB 1PMJD½B EF (VBEBMBKBSB &TP MP SFTPMWFS²O MPT KVFDFT B QBSUJS EF MB FWJEFODJB RVF BSSPKFO MBT JO WFTUJHBDJPOFT EF MB 'JTDBM½B Z EF MB 1(3 4JO FNCBSHP FM FTD²OEBMP OPT SFDVFSEB MB PQBDJEBE Z TJHJMP RVF DBSBDUFSJ[BO BM 1PEFS +VEJDJBM -B USBOTJDJÂO B MB EFNPDSBDJB OP QVEP DPO MPT KVFDFT Z NBHJTUSBEPT RVF TJHVFO PQFSBOEP DPO CBK½TJNPT OJWFMFT EF SFOEJDJÂO EF DVFOUBT DPNP TJ OBEB IVCJFSB DBNCJBEP FO FTUF QB½T "OUF FM DBNCJP QPM½UJ DP FO +BMJTDP FM 1PEFS +VEJDJBM TF BUSJODIFSÂ DPNP NFDBOJTNP EF QSP UFDDJÂO &O TV JOUFSJPS MPT WJDJPT EFM QBTBEP TJHVFO QFSNFBOEP FM QSF TFOUF %FTEF MB DBCF[B FM 1PEFS +VEJDJBM BDBSSFB JOFSDJBT NVZ QSFPDVQBOUFT EJTDSFDJPOBMJEBE OVMB USBOTQBSFODJB DPSSVQDJÂO JO GMVZFOUJTNP QBSUJEJ[BDJÂO &M 1PEFS +VEJDJBM SFTVMUÂ JOUPDBEP DPNP GSVUP EFM QSBHNBUJTNP Z MPT BDVFSEPT QPM½UJDPT FO MB USBOTJDJÂO B MB EFNPDSBDJB 4ÂMP "MCFS UP $²SEFOBT JOUFOUÂ Z OP QVEP DPO MB DPIFTJÂO QPM½UJDB EF MPT NBHJT USBEPT &M SFTUP EF HPCFSOBEPSFT QSFGJSJFSPO FOUSBSMF BM CBJMF 0QUB SPO QPS JOTFSUBSTF FO FM DJDMP EF MB DPPQUBDJÂO EF VOP EF MPT USFT QPEFSFT EFM &TUBEP /J 'SBODJTDP 3BN½SF[ "DVÁB OJ &NJMJP (PO[² MF[ .²SRVF[ Z UBNQPDP "SJTUÂUFMFT 4BOEPWBM TF DPNQSPNFUJFSPO B TBDBS MBT NBOPT EFM 1PEFS +VEJDJBM 1PS FM DPOUSBSJP IJDJFSPO UPEP MP QPTJCMF QBSB NBOUFOFS VOB IFHFNPO½B QPM½UJDB FO MBT TBMBT EFM 4V QSFNP 5SJCVOBM EF +VTUJDJB "I½ FTU² FM NBHJTUSBEP $FMTP 3PES½HVF[ RVF TF FOUSPOJ[Â FO FM DBSHP BM GSFOUF EFM 4VQSFNP Z QBDUÂ DPO (PO [²MF[ .²SRVF[ MB TVKFDJÂO EFM 1PEFS +VEJDJBM B MPT EFTJHOJPT EFM HP CFSOBEPS EF UVSOP "MHP TJNJMBS TVDFEF DPO -VJT $BSMPT 7FHB 1²NB OFT JNQVMTBEP QPS MPT iKBWJFSFTw (BMW²O Z (VJ[BS Z RVF MVFHP IB TFSWJEP DPNP GJFM FTDVEFSP EF MPT JOUFSFTFT EF VOB QBSUF EF MB DMBTF QPM½UJDB FO FM &TUBEP : FT RVF MB TFQBSBDJÂO EF QPEFSFT FO +BMJTDP FT VOB CPOJUB JOUFO DJÂO Z OBEB N²T -PT KFGFT QPM½UJDPT FO +BMJTDP FYUJFOEFO TVT UFOU² DVMPT B MPT USFT QPEFSFT Z WVMOFSBO MB BVUPOPN½B RVF FTU² FO MB CBTF EFM TJTUFNB EF QFTPT Z DPOUSBQFTPT EF MB EFNPDSBDJB &M 1PEFS +VEJ DJBM TF JOUFHSB EF DVPUBT RVF OJ TJRVJFSB SFTQPOEFO FO T½ B VOB EJT USJCVDJÂO QBSUJEJTUB TJOP B VOB TFSJF EF GBNJMJBT Z BQFMMJEPT QPM½UJDPT RVF DPOUSPMBO FM SVNCP EF MB KVTUJDJB -PT $PT½P "SUVSP ;BNPSB 3B ÈM 1BEJMMB "SJTUÂUFMFT 4BOEPWBM 'FSOBOEP (V[N²O +PT¹ .BS½B .BS U½OF[ UPEPT UJFOFO TVT GJDIBT FO FM 1PEFS +VEJDJBM 2VJFO FODBCF[B FM 1PEFS +VEJDJBM OP TF EFDJEF FO FM QMFOP EF NBHJTUSBEPT TJOP FO DPO WFSTBDJPOFT FOUSF QPM½UJDPT &T DJFSUP MB FMFDDJÂO EF NBHJTUSBEPT FO FM $POHSFTP GBDJMJUB RVF MMFHVFO QFSGJMFT BGJOFT B MPT QSJODJQBMFT KFGFT QPM½UJDPT EF MB &OUJEBE TJO FNCBSHP FT VO BTVOUP N²T DPNQMFKP -PT BMDBODFT EF BRVFMMPT RVF DPOUSPMBO MB QPM½UJDB FO +BMJTDP TF IBO FO TBODIBEP EFTEF MB USBOTJDJÂO -PT PSHBOJTNPT DPO DBQBDJEBE EF EF GFOEFS TV BVUPOPN½B TF EJMVZFSPO DPO FM UJFNQP Z IPZ OP FODPOUSB NPT FTQBDJP EF MB BDDJÂO QÈCMJDB RVF OP FTU¹ DPUJ[BEP IBTUB MBT

FOUSBÁBT 7JWJNPT VOB EFNPDSBDJB EF iQBESJOPTw BMDBO[BS VOB NB HJTUSBUVSB P VOB DPOTFKFS½B EFQFOEF EFM BQPZP EF BMHÈO KFGF QPM½UJDP 1BEJMMB 4BOEPWBM "MGBSP ;BNPSB 3PTBMFT &M DPOUSPM QPM½UJDP EFM 1PEFS +VEJDJBM OPT FYQMJDB MB DSJTJT UBO BHV EB EFM TJTUFNB EF KVTUJDJB FO +BMJTDP )FNPT QFSNJUJEP RVF FM 1PEFS +VEJDJBM TF DPOWJFSUB FO FM NBOEBEFSP EF MB DMBTF QPM½UJDB )PZ QPS IPZ FT JNQPTJCMF RVF VO QFSGJM DPO BMUP OJWFM EF JOEFQFOEFODJB BM DBODF MB TJMMB QSFTJEFODJBM FO FM 4VQSFNP 5SJCVOBM EF +VTUJDJB 4JO SV CPSJ[BSTF MPT QBSUJEPT QPM½UJDPT TF SFQBSUFO MPT QVFTUPT Z EFTJHOBO B TVT BNJHPT P BRVFMMPT RVF QSPUFHFS²O FGJDB[NFOUF TVT JOUFSFTFT 4J CJFO TF IBO JOUSPEVDJEP DBOEBEPT Z FOUSFWJTUBT DPNP QBSUF EFM QSP DFTP QBSB FMFHJS NBHJTUSBEPT MB EFDJTJÂO GJOBM TJFNQSF FT VO BDVFS EP QPM½UJDP RVF TF FTUSVDUVSB B USBW¹T EF MBT DVPUBT IPZ NF UPDB B NJ NBÁBOB UF UPDB B UJ &T MB USBHFEJB EFM 1PEFS +VEJDJBM FO +BMJTDP TF FO DVFOUSB BM TFSWJDJP EF VOPT QPDPT Z FO DMBSP BCBOEPOP EF MB NBZPS½B 3FGPSNBS FM 1PEFS +VEJDJBM OP FT TFODJMMP /PT MMFWBS² VOB HFOF SBDJÂO TJ FNQF[BNPT IPZ : BVORVF UPEP QBSF[DB SFEVDJSTF BM EFCB UF TPCSF MB GJHVSB EFM 1SFTJEFOUF FO FTUF DBTP 7FHB 1²NBOFT MB SFB MJEBE FT RVF FM TJTUFNB EF KVTUJDJB SFDMBNB TV EFDPOTUSVDDJÂO DBTJ BCTPMVUB Z MB FSFDDJÂO EF VOB OVFWP NPEFMP RVF TF GJORVF FO MB JOEF QFOEFODJB EF MB KVTUJDJB -PT QB½TFT RVF MPHSBSPO SFGPSNBS FM 1PEFS +VEJDJBM USBT E¹DBEBT EF SFH½NFOFT BVUPSJUBSJPT &TQBÁB FT VOP EF FMMPT MP IJDJFSPO B USBW¹T EF VOB TFSJF EF NPEJGJDBDJPOFT MFHBMFT RVF EPUBSPO BM 1PEFS +VEJDJBM EF BVUPOPN½B QSFTVQVFTUBM Z BVUPOPN½B FO MBT EFTJHOBDJPOFT &O FM DBTP FTQBÁPM MPT KVFDFT MMFHBO MVFHP EF TFS EFTJHOBEPT QPS FM $POTFKP (FOFSBM EFM 1PEFS +VEJDJBM RVF TJ CJFO QVFEF UFOFS VOB JOUFSWFODJÂO JOEJSFDUB EF MPT QBSUJEPT Z MPT JOUFSF TFT QPM½UJDPT FT BM NFOPT VO FTQBDJP N²T EF DPOUSBQFTP BM QPEFS QP M½UJDP %F MB NJTNB GPSNB VOB QBSUF JNQPSUBOUF EFM DPOUSPM RVF IB DFO MPT QPM½UJDPT EFM BQBSBUP EF KVTUJDJB TF NJEF B USBW¹T EF QFTPT Z DFOUBWPT &M 1PEFS +VEJDJBM FTU² TVCPSEJOBEP B MP RVF FM HPCFSOBEPS Z FM $POHSFTP EFDJEBO FOUSFHBSMF FO NBUFSJB QSFTVQVFTUBM /P FT FYB HFSBEP EFDJS RVF FM UJUVMBS EFM 4VQSFNP EFCF HFTUJPOBS SFDVSTPT FO FM &KFDVUJWP Z FO FM -FHJTMBUJWP BM OP UFOFS VO QSFTVQVFTUP DPOTUJUV DJPOBM RVF SFTQBMEF TV BDUVBDJÂO 1FOTFNPT FO RVF MMFHVF VO QFSGJM BVUÂOPNP B FODBCF[BS FM 1PEFS +VEJDJBM {1PES½B BQMJDBS DJFHBNFO UF MB MFZ TJO JNQPSUBS DPMPSFT Z DPOEJDJPOFT TJ FTU² BUBEP EF NBOPT QSFTVQVFTUBMNFOUF 1PS TVQVFTUP RVF OP 2VJFO QBHB NBOEB "VOBEPT B MB QPMJUJ[BDJÂO QPS TVQVFTUP RVF MPT QSPCMFNBT EFM 1PEFS +VEJDJBM TPO NVDIPT N²T -B DPSSVQDJÂO MB JOGJMUSBDJÂO MB FT DBTF[ EF SFDVSTPT MPT TBMBSJPT FYPSCJUBEPT QBSB VOB DBTUB KVEJDJBM Z MPT TVFMEPT CBKPT QBSB FM SFTUP MB GBMUB EF KV[HBEPT MBT EJGJDVMUBEFT QBSB JNQMFNFOUBS FM OVFWP TJTUFNB EF KVTUJDJB QFOBM Z VO MBSHV½TJNP FUD¹UFSB 4JO FNCBSHP QSJNFSP MP QSJNFSP /P IBCS² TPMVDJÂO FTUSVD UVSBM B MPT QSPCMFNBT RVF BRVFKBO BM 1PEFS +VEJDJBM TJ BOUFT OP FO UFOEFNPT RVF MB DPPQUBDJÂO BGFDUB EJSFDUBNFOUF B MB OBUVSBMF[B EF TV FODBSHP -B KVTUJDJB FT DJFHB T½ Z TÂMP T½ FT BQMJDBEB QPS KVFDFT RVF OP UJFOFO VOB DPSSFB EF USBOTNJTJÂO EJSFDUB EFTEF MBT TFEFT EF MPT QBSUJEPT P EFTEF MBT PGJDJOBT EF MPT QSJODJQBMFT KFGFT QPM½UJDPT %F MB NJTNB GPSNB RVF FTDVDIBNPT FO FM BVEJP TPCSF 7FHB 1²NBOFT EFT

, "Ê Ê1 Ê -* / ", Õ> Ê*> >À "UNPTG¹SJDBT )PSBT UFNQSBOBT SFWJTBOEP MBT NB UBT &M KBSEJOFSP NVFWF MB DBCF[B MB BMCBIBDB TF TF DÂ NJTUFSJPTBNFOUF -PT HP[PT Z MBT TPNCSBT MPT QP[PT Z MBT CPNCBT MB JOTUBMBDJÂO EFM SJFHP FT NJ OVDJPTBNFOUF BEJWJOBEB -MBWFT Z DPNQVFSUBT RVF ZB OBEJF TBCF QBSB RV¹ USBCBKBO SBNBMFT JHOPUPT GVHBT FTDBOEBMPTBT S²QJEBNFOUF TPGPDBEBT 5SFT HFOFSBDJPOFT OBEB DFSDBOBT EF CPNCBT IJES²VMJ DBT IBO EFKBEP USBT FMMBT QJTUBT JOTPMVCMFT OPN²T FM BMKJCF JNQBTJCMF TF EFDMBSB BI½UP EF TV FTQFKP PTDVSP SFMBNQBHVFBOUF DVBOEP MP BMDBO[B MB MV[ EF MB UBSEF -BT WFOBT EF BHVB TVSDBO FM OPCMF DVFS QP EF MB DBTB Z VOB EJG½DJM BOBUPN½B FT QPDP B QPDP SFDPOTUSVJEB &M SFDJFOUF HSBOBEP OP BDBCB EF EF DJEJS TJ FT FM MVHBS RVF PDVQB FM RVF PDVQB QBSB NF KPS SFTQJSBS 6OB NJUBE EF TV JODJQJFOUF GSPOEB TPO S½F DPO VO WFSEF EF NJMBHSFS½B NJFOUSBT MB GBTF PTDVSB USJTUFB QPS NPUJWPT RVF TFS² QSFDJTP EFUFS NJOBS 1FSP OBEJF BGPSUVOBEBNFOUF FT EVFÁP EF VO KBSE½O TJ OP TF TBCF FM OPNCSF EF MB ÈMUJNB QMBO UB Z FM BSCVTUP RVF JOTJTUF FO GMPSFBS CBKP FM HVBZB CP TF SFTJTUF B FODPOUSBS EFOPNJOBDJÂO Z PSJHFO M CJFO RVF TF MPT TBCF Z OBEB EJS² N²T RVF TV NBO TB GJEFMJEBE TV HMPSJPTP Z IVNJMEF FNQFÁP QPS EFT QMFHBS MBT CBOEFSBT EF MB NBÁBOB 3PNFS½B 6O SVNPS RVF WJFOF EF TJHMPT BWBO[B DBMMF BSSJCB "M QSJODJQJP FT FM TVBWF SPDF EF NJMFT EF QJFT FO FM QBWJNFOUP PTDVSP MBT WPDFT FYUSBÁBNFO UF RVJFUBT /PN²T FM SFTUBMMBS EF MPT M²UJHPT EF QJFEBE QVOUÈB DPO TVT TFDBT EFUPOBDJPOFT FM TJMFODJP 1FSP ZB TF PZFO MBT BWBO[BEBT EF MPT QSJNFSPT EBO[BOUFT FT VO QVMTP NVZ IPOEP RVF WB NBSDBOEP UPEPT MPT MBUJEPT RVF TF IBO HVBSEBEP QBSB FTUF FYBDUP BNB OFDFS &T DPNP VO DBOUP QFSP FT NVDIP N²T RVF VO DBOUP FT FM NJTNP BMJFOUP EF TVT WJEBT FM DPNQMFUP BMFUFP EF TVT FOUSBÁBT FM RVF WBO EFKBOEP MPT SPNF SPT DPO FM HPMQFUFP EF TVT QMBOUBT NFU²MJDBT TPCSF FM TVFMP : DIJTQBT WPMBCBO .BHO½GJDPT DBSSVBKFT EF ½O UJNB QPCSF[B MMFWBO USFT UBNCPT EF M²NJOB B NBOF SB EF UBNCPSFT EPT SPNFSPT MPT FNQVKBO Z VO PGJ DJBOUF FKFDVUB QPS UVSOPT VO TPMP RVF ZB FOWJEJBS½B EFTEF FM DJFMP ,FJUI .PPO &M SJUNP EJDF BMHÈO DJFO U½GJDP TF BDVFSEB FYBDUBNFOUF DPO MBT QVMTBDJPOFT EF VOB FTUSFMMB FYUJOUB IBDF NJMMPOFT EF BÁPT Z RVF FO FTUB UJFSSB FTUBS² WJWB UPEBW½B QPS PUSP UBOUP UJFN QP DBEB EPDF EF PDUVCSF .²T NVDIFEVNCSF RVF FNQVKB DPDIFDJUPT EF OJÁPT TJMMBT EF SVFEBT NBO EBT QBHBEBT DPO FTUPT QBTPT : MVFHP MPT PUSPT EBO

[BOUFT MPT EF MPT QFOBDIPT FTQMFOEPSPTPT MPT EF MPT DPMPSFT JNQPTJCMFT RVF NBUJ[B MB PTDVSJEBE EF MB NB ESVHBEB -VKP Z EFSSPDIF GJFTUB Z MPPS QBSB MB 4FÁP SB RVF USBKP MB QB[ QFOEJFOUF EFM DVFMMP EF VO GSBJMF JOHFOVP Z WBMJFOU½TJNP 4FHÈO BMHVOBT JOWFTUJHBDJP OFT QPES½B BGJSNBSTF RVF TPCSF MBT CBORVFUBT EF FTB DBMMF QVEJFSBO QPOFSTF DPNP FO MB CBMEPTB EF /PUSF %BNF TPCSF MB RVF 1BVM $MBVEFM FODPOUSÂ MB DPOWFS TJÂO MBT DPONFNPSBDJPOFT EF RVJFOFT BMM½ IBMMBSPO MB MV[ Z FM HP[P EF DSFFS FO UBOUB DBOEPSPTB GF -B 4F ÁPSB ZB OP TF TBCF B RV¹ IPSB QBTBS² IBZ RVJFO EJ DF RVF GVF IBDF SBUP RVJFO BGJSNB RVF BQFOBT WB TB MJFOEP EF DBUFESBM .BS½B EF MB 0 FTU² FO UPEPT MBEPT FO FM HFTUP BTPNCSBEP EF VOPT OJÁPT RVF UPEP MP FO UJFOEFO BM JOTUBOUF FO FM BJSF GVSUJWP EF VO KPWFO USVIBO RVF TF BHSFHB B MB QSPDFTJÂO CVTDBOEP MB PQPSUVOJEBE EF BMHVOB GFDIPS½B FO MB NJSBEB CPSSP TB EF MPT WJFKPT RVF EFTEF NFEJBOPDIF BDFSDBSPO USB CBKPTBNFOUF TVT TJMMBT EF QM²TUJDP QBSB WFS QBTBS B MB NBSBWJMMB &M TVBWF Z ²TQFSP FK¹SDJUP EF MPT RVF DSF FO KVTUJGJDB DPO TV GFSWPS B MB DJVEBE FOUFSB TF MMFWB DPO TV FNQVKF NJMFOBSJP FM BJSF WJDJBEP Z BQFTUPTP EF MB DPEJDJB Z MB VTVSB EF MPT DPOEFTDFOEJFOUFT P FN QPO[PÁBEPT CVSMPOFT Z EF MPT QBHBEPT EF T½ NJTNPT EFKB BUS²T VO JOFYQMJDBCMF PMPS B KBDJOUP Z B NJSSB 6OB NJTFSJDPSEJB QFSEVSBCMF $BODJPOFT TQVUOJL %B QBSB NVDIP BDPSEBSTF EF MB UFDOPMPH½B TPWJ¹UJDB DV²OUPT TBU¹MJUFT QBU¹UJDB NFOUF GBMMJEPT QBHBEPT DPO QFSNBOFOUFT FTUBODJBT FO 4JCFSJB 1FSP FO GJO BMHVOPT MPHSBSPO PSCJUBS Z RVJ¹O TBCF DV²OUPT BOEFO UPEBW½B BMM² BSSJCB $PNP BMHVOBT DBODJPOFT DVZBT JOFTQFSBEBT USBZFDUPSJBT EF WF[ FO DVBOEP Z BMHVOBT ZB OVODB BDFSDBO MB SBEJBDJÂO EF POEBT RVF TF BQSPQJBO EF SFQFOUF PUSB WF[ EFM BMNB $PNP VOB RVF IBCMB EF MPT EJBNBOUFT Z MB IFSSVNCSF 'VF FTDSJUB IBDF DVBSFOUB BÁPT QBSB BKVTUBS DVFOUBT DPO VOB IJTUPSJB EFTEJDIBEB RVF IB C½B TVDFEJEP IBDF DJODVFOUB "IPSB B USBW¹T EF NF EJP TJHMP SFHSFTB QVSF TFSFOEJQJUZ MB WP[ QVS½TJ NB EF MB NBEPOB EF MB DBODJÂO QBSB EBS DVFOUB EF VO SFMBUP RVF QVFEF TFS UPEPT MPT SFMBUPT EF MPT BNPSFT JODBOEFTDFOUFT Z GSBDBTBEPT {Z DV²MFT EF MPT EF B EF WFSBT OP MP TPO #VFOP NF MMFWB FM USFO BRV½ WJFOF UV GBOUBTNB PUSB WF[ QFSP OP FT UBO SBSP FT OPN²T RVF MB MVOB FTU² MMFOB

&/ &- 0+0 %&- )63"$«/ -VJT $BSMPT 7FHB 1ÈNBOFT FM IPNCSF RVF FODBCF[B FM 1PEFS +VEJDJBM FO FM &TUBEP EF +BMJTDP

WFMBEP IBDF BMHVOPT E½BT {$V²OUPT QPM½UJDPT OP JOUFSDFEFO QPS TVT DVBUFT DPO NBHJTUSBEPT Z KVFDFT &T VOB QS²DUJDB DPUJEJBOB : FT RVF FTUBNPT FO FM QFPS EF MPT NVOEPT -B EJWJTJÂO EF QPEF SFT OP PQFSB QBSB FWJUBS RVF TF QPMJUJDF MB KVTUJDJB QFSP T½ TJSWF QBSB QSPUFHFS MPT JOUFSFTFT EF MPT HSVQPT EF QPEFS RVF DPOUSPMBO FM 1PEFS +VEJDJBM &T BT½ MPT NBHJTUSBEPT OP UJFOFO BVUPOPN½B QPS FKFNQMP QBSB FOUSBSMF FO TFSJP B MPT DBTPT EF DPSSVQDJÂO EF MB DMBTF QPM½UJDB QFSP T½ MB UJFOFO QBSB BTJHOBSTF TVFMEPT PGFOTJWPT QBSB MB NBZPS½B EF MPT DJVEBEBOPT Z T½ MB UJFOFO QBSB QPOFS DPOUSPWFSTJBT DPOUSB MB -FZ EF "VTUFSJEBE P DPOUSB SFTPMVDJPOFT EFM $POHSFTP &T VOB BVUPOPN½B DPNP JNQVOJEBE B EJGFSFODJB EF MB BVUPOPN½B DPNP QSPUFDDJÂO EF MB KVTUJDJB RVF EFCFS½BO SFDMBNBS MPT NBHJTUSBEPT 1PS TVQVFTUP RVF VOB VMUFSJPS SFGPSNB EFCFS½B FOTBODIBS MPT OJWFMFT BVUPOPNJTUBT EFM 1PEFS +VEJDJBM TJO FNCBSHP UBNCJ¹O EFCF BGJOBS MPT NFDBOJTNPT EF DPOUSBQFTP RVF EJMVZBO MB EJTDSFDJPOBMJEBE DPO MB RVF MPT NBHJTUSB EPT UPNBO EFDJTJPOFT BDFSDB EFM EJOFSP EF UPEPT MPT DPOUSJCVZFOUFT &T VO EJG½DJM FRVJMJCSJP -PT FGFDUPT EF OVFTUSP EJTGVODJPOBM TJTUFNB EF KVTUJDJB TPO GV OFTUPT &T VO GSFOP QBSB MB DPNQFUJUJWJEBE JOIJCF MBT JOWFSTJPOFT QSPNVFWF MB DPSSVQDJÂO EFTHBTUB B MPT DJVEBEBOPT FO MPT QSPDFTPT Z NBOUJFOF QSJWJMFHJPT JOKVTUJGJDBCMFT -B EFNPDSBDJB FYJHF VO TJTUF NB EF EJWJTJÂO EF QPEFSFT RVF HBSBOUJDF MB WJHJMBODJB FOUSF FMMPT Z MB BVUPOPN½B QBSB FKFSDFS TV NBOEBUP DPOTUJUVDJPOBM &O +BMJTDP FTP OP PDVSSF 5BOUP FM $POHSFTP DPNP FM 1PEFS +VEJDJBM TF FODVFOUSBO TV CPSEJOBEPT B MP RVF EJDFO MPT KFGFT QPM½UJDPT NVDIPT EF FMMPT FTU²O FO QBSUJEPT Z PUSPT OP OFDFTBSJBNFOUF 3FGPSNBS FO MB SVUB DPSSFDUB FM 1PEFS +VEJDJBM FYJHF VO HSBO BDVFSEP QPM½UJDP 4PO VOPT QPRVJUPT MPT RVF NBOEBO FO MB KVTUJDJB MPT QPEFNPT DPOUBS DPO OVFTUSBT EPT NBOPT &M N²T PQBDP EF MPT QPEFSFT OP QVFEF TFHVJS FO FTUB SVUB EF EFTDPNQPTJDJÂO RVF OPT BMFKB EF DPOUBS DPO VO 1PEFS +VEJDJBM RVF SFTQPOEB B MBT EFNBOEBT EF MPT DJVEBEBOPT &M DBTP EF 7FHB 1²NB OFT FT TÂMP MB QVOUB EFM JDFCFSH FT TÂMP MB N²T BQBSFOUF EF MBT NBOJ GFTUBDJPOFT EF MPT QSPCMFNBT RVF BGFDUBO B MB KVTUJDJB FO +BMJTDP &M 1PEFS +VEJDJBM OP BHVBOUB N²T MBT SFGPSNBT TPO JNQPTUFSHBCMFT

Z TF UF PDVSSJÂ MMBNBS Z BRV½ FTUPZ TFOUBEB DPO MB NBOP FO FM UFM¹GPOP PZFOEP VOB WP[ RVF DPOPD½B IBDF EPT BÁPT MV[ DVBOEP JCB EFSFDIP BM QSFDJQJDJP " MP RVF NF BDVFSEP UVT PKPT FSBO N²T B[VMFT RVF MPT IVFWPT EFM QFUJSSPKP NJ QPFT½B FSB Q¹TJNB EJKJTUF {EF EÂOEF MMBNBT VOB DBTFUB FO FM .JEXFTU IBDF EJF[ BÁPT UF DPNQS¹ NBODVFSOJMMBT UÈ NF USBKJTUF BMHP MPT EPT TBCFNPT MP RVF QVFEF USBFS FM SFDVFSEP USBF EJBNBOUFT Z IFSSVNCSF *SSVNQJTUF FO FTDFOB ZB FSBT VOB MFZFOEB FM EFTBMJÁBEP GFOÂNFOP FM PSJHJOBM WBHBCVOEP UF QFSEJTUF FO NJT CSB[PT Z BI½ UF RVFEBTUF UFNQPSBMNFOUF QFSEJEP FO BMUBNBS MB .BEPOB FSB UVZB B DBNCJP EF OBEB T½ MB NVDIBDIB FO MB NFEJB DPODIB UF NBOUFOES½B B TBMWP "IPSB UF NJSP EF QJF DPO IPKBT QBSEBT RVF DBFO BMSFEFEPS Z OJFWF FO FM QFMP BIPSB TPOS½FT QPS MB WFOUBOB EF FTF IPUFM QPMWPSJFOUP TPCSF 8BTIJOHUPO 4RVBSF OVFTUSP BMJFOUP TVCF FO OVCFT CMBODBT RVF TF NF[DMBO Z GMPUBO FO FM BJSF IBCMBOEP UBO TÂMP QBSB N½ QPES½BNPT IBCFS NVFSUP BMM½ Z FOUPODFT "IPSB NF EJDFT RVF OP UJFOFT OPTUBMHJB EBNF FOUPODFT PUSB QBMBCSB QBSB FTUP UÈ RVF UBO CVFOP FSFT DPO MBT QBMBCSBT Z QBSB NBOUFOFS MBT DPTBT WBHBT QPSRVF FTB WBHVFEBE SFDMBNP BIPSB RVF UPEP WVFMWF B N½ UBO DMBSP T½ UF RVJTF DPO FM BMNB Z TJ NF PGSFDFT EJBNBOUFT Z IFSSVNCSF ZB MPT QBHV¹ %JDUBEP i* N OPU UIFSF * N HPOF /VODB FTUBS² BMM½ FO EPOEF MB JMVTJÂO EF MPT TBCJPOEPT Z MPT FOUFOEJEPT

JOUFOUBO TJUVBSMP &MVEF BMVEF QJFOTB UPEP FM UJFN QP FO PUSB DPTB $SV[B FM TJHMP FOWVFMUP EFTEF TJFN QSF FO VO BJSF EF WBHVFEBE EF MFZFOEB RVF TF FT DBQB -P ÈMUJNP RVF TF TVQP GVF RVF UPDÂ QBSB FM 1BQB RVF TF EFD½B TV GFMJHS¹T 0 RVF BMHVJFO MF EJP VO QSFNJP TVFDP N²T P NFOPT FSS²UJDP 0USP JONFO TP QPFUB EFDMBSÂ RVF FSB DPNP RVFSFS QPOFSMF VOB NFEBMMB BM &WFSFTU $PNP EFD½B VOB U½B RVFSJEB IBTUB BIPSB FM CBSEP JODBOEFTDFOUF iOJ NVFTUSB CF OFGJDJP OJ NBOJGJFTUB BHSBWJPw &WFSZCPEZ JT NB LJOH MPWF PS FMTF FYQFDUJOH SBJO QBSB SFTVNJS FM UF NB /P TPCSBS² EFDJS BQVOUB RVF NJMMPOFT EF HFOUFT FO FM QMBOFUB IBO QPEJEP QPOFSMF DJGSB B TV DVJUB P TV DPOUFOUP HSBDJBT B EPT P USFT WFSTPT SF QFOUJOPT OP FTUBS² EF N²T SFDPSEBS RVF FO BMHV OB DBSSFUFSB QFSEJEB EF "MBTLB UPEBT MBT OPDIFT TF WB SFQJUJFOEP FM SJUVBM FOUSF MB FTU²UJDB EFM SBEJP BQBSFDF FM SBZP EF MB JMVNJOBDJÂO NJFOUSBT VOB BS NÂOJDB EB QBTP B BMHVOBT QBMBCSBT RVF KVTUP B UJFNQP FOEFSF[BO FM NPSUBM SVNCP RVF FM DPOEVD UPS CSFWFNFOUF EPSNJEP ZB MMFWBCB 5BM WF[ OP TFB VO EJTQBSBUF BGJSNBS RVF FM DBNJOP EF MB TBMVE QB TÂ UBOUBT WFDFT QPS VOB CSFWF TFSJF EF WFSTPT RVF BM NJTNP UJFNQP RVF NBOUFO½BO WBHBT MBT DPTBT BDMBSBCBO FM SVNCP 2VF MPT QBU¹UJDPT TF SBTHVFO MBT WFTUJEVSBT RVF SF[POHVF MB BNQMJB DMBTF NFEJB NFOUBM EBS² MP NJTNP *HVBM FM CBSEP TFHVJS² FO TVT DPTBT EJDJFOEP MP RVF FO HBOB MF WFOHB P OP TJFO EP JOEJTQFOTBCMF -PT TVFDPT NVZ PSPOEPT FTQF SBS²O FM GSBD Z FM EJTDVSTP Z DPOHSBDJBSTF DPO MB CBOEB " MB NFSB FM QPFUB TF DPOUFOUBS² DPO SBTHBS BMHVOBT OPUBT EF TV DBODJÂO N²T SFDÂOEJUB B MB NF SB TFHVJS² QBSB WFOUVSB Z IPOSB EFM TJHMP FTUBOEP FO PUSB QBSUF $POKVSP TF QVFEF SFQFUJS JOUFSNJOBCMFNFOUF BM BNQBSP EF MB .BEPOB 8JUI ZPVS NFSDVSZ NPVUI JO UIF NJTTJPOBSZ UJNFT "OE ZPVS FZFT MJLF TNPLF BOE ZPVS QSBZFST MJLF SIZNFT "OE ZPVS TJMWFS DSPTT BOE ZPVS WPJDF MJLF DIJNFT 0I EP UIFZ UIJOL DPVME CVSZ ZPV 8JUI ZPVS QPDLFUT XFMM QSPUFDUFE BU MBTU "OE ZPVS TUSFFUDBS WJTJPOT XIJDI ZPV QMBDF PO UIF HSBTT "OE ZPVS GMFTI MJLF TJML BOE ZPVS GBDF MJLF HMBTT 8IP DPVME UIFZ HFU UP DBSSZ ZPV 4BE FZFE MBEZ PG UIF MPXMBOET 8IFSF UIF TBE FZFE QSPQIFU TBZT UIBU OP NBO DPNFT .Z XBSFIPVTF FZFT NZ "SBCJBO ESVNT 4IPVME * MFBWF UIFN CZ ZPVS HBUF 0S TBE FZFE MBEZ TIPVME * XBJU w KQBMPNBS!JOGPSNBEPS DPN NY


%PNJOHP EF PDUVCSF EF

&- */'03."%03

* , Ê Ê/"+1 >À ÊÛ>À}>ÃÊ Ã>

>Ê«>âÊ« à L i "MHP NBSFBEPT QPS MPT GBTUPT EF MB FTQFDUBDVMBS NPWJMJ[BDJÂO DPO RVF EP FO QJDBEB Z RVF VOB DMBSB NBZPS½B EFM QVFCMP DPMPNCJBOP OP DSFF TF DFMFCS MB GJSNB EFM "DVFSEP EF 1B[ FOUSF FM (PCJFSOP DPMPNCJBOP Z ZB FO MP RVF IBDFO OJ FO MP RVF EJDFO : RVF TV BTQJSBDJÂO N²YJNB FT MBT '"3$ MPT QBSUJEBSJPT EFM i4½w OPT MMFWBNPT VOB NBZÈTDVMB TPSQSF RVF OP TÂMP TF WBZBO EF MBT NPOUBÁBT Z MB TFMWB TJOP UBNCJ¹O EF MB WJEB TB DVBOEP EFTNJOUJFOEP UPEPT MPT TPOEFPT FM i/Pw TF JNQVTP FO FM QMF QPM½UJDB &TP TJHOJGJDB RVF B MPT BOUJHVPT HVFSSJMMFSPT MFT DPTUBS² NV CJTDJUP -P N²T EFTDPODFSUBOUF EF BRVFMMB DPOTVMUB OP IBO TJEP MPT QP DIPT FTGVFS[PT Z VOB FOUSFHB SFBM BM RVFIBDFS QPM½UJDP QBD½GJDP QBSB SF DPT NJMFT EF WPUPT RVF EFSSPUBSPO B RVJFOFT FTUBCBO B GBWPS TJOP FM DBTJ DVQFSBS VO QBQFM JNQPSUBOUF FO MB $PMPNCJB EFM GVUVSP -PT QBSUJEBSJPT EFM i/Pw HBOBEPSFT EFM QMFCJTDJUP OP EF EF FMFDUPSFT RVF TF BCTUVWJFSPO EF JS B WPUBS $POWJFOF IBDFS VO FTGVFS[P Z KV[HBS BRVFM SFTVMUBEP DPO MB DB CFO EFKBS RVF MPT PCOVCJMF MB WJDUPSJB Z EFNPTUSBS DPO IFDIPT RVF CF[B GS½B &T FWJEFOUF RVF OP IBZ OJ QVFEF IBCFS USFT DVBSUBT QBSUFT EF FGFDUJWBNFOUF RVJFSFO MB QB[ 6OB QB[ NFKPS RVF MB RVF QSPQPO½B $PMPNCJB B GBWPS EF FTB HVFSSB RVF EFTEF IBDF N²T EF NFEJP TJHMP FM "DVFSEP QFSP MB QB[ OP EF OVFWP MB HVFSSB &TP JNQMJDB OFHP DBVTB FTUSBHPT FO FM QB½T DPO MPT NJMMBSFT EF NVFSUPT Z IFSJEPT MPT TF DJBS IBDFS Z DPOTFHVJS DPODFTJPOFT EFM BEWFSTBSJP BMHP QFSGFDUB DVFTUSBEPT Z DIBOUBKFBEPT FM UFSSPSJTNP FM PCTU²DVMP RVF TJHOJGJDB QB NFOUF SFBMJTUB B DPOEJDJÂO EF RVF OP DPOGVOEBO FM USJVOGP EFM i/Pw SB MB WJEB FDPOÂNJDB MBT WBTUBT SFHJPOFT QBSBMJ[BEBT QPS MBT BDDJPOFT DPO VOBT '"3$ EFSSPUBEBT B MBT RVF TF QVFEF IVNJMMBS F JNQPOFS BSNBEBT MB JOTFHVSJEBE SFJOBOUF Z MB MFUBM BMJBO[B EF MB HVFSSJMMB Z FM UPEB DMBTF EF FYJHFODJBT 4FS² EJG½DJM MMFHBS B FTF OVFWP BDVFSEP QFSP OP FT JNQPTJCMF OBSDPUS²GJDP GVFOUF EF DPQJPTB DPSSVQDJÂO JOTUJUVDJPOBM Z TPDJBM &M WP UP OFHBUJWP Z MB BCTUFODJÂO OP JNQMJDBO VO SFDIB[P B MB QB[ NBOJGJFT /P UPEBW½B -P IBO DPOTFHVJEP FO $FOUSPBN¹SJDB Z FO *SMBOEB EFM UBO VO FTDFQUJDJTNP QSPGVOEP GSFOUF B MB OBUVSBMF[B EFM BDVFSEP GJSNB /PSUF EPOEF RVJFOFT TF FOUSFNBUBCBO DPO GFSPDJEBE TJO JHVBM IBDF EP FO FM RVF DPO SB[ÂO P TJO FMMB VOB HSBO NBZPS½B EF DPMPNCJBOPT WF QPDPT BÁPT IPZ DPFYJTUFO Z NBM RVF NBM TF BDMJNBUBO B MB EFNPDSB B MBT '"3$ DPNP MB HSBO USJVOGBEPSB EF MB OFHPDJBDJÂO Z CFOFGJDJBSJB DJB -P JNQPSUBOUF FT TFS DPOTDJFOUFT EF RVF MB WJFKB JEFB GVFS[B RVF EF DPODFTJPOFT RVF MF QBSFDFO EFTNFEJEBT F JOKVTUBT FO MPT BÁPT TFTFOUB Z TFUFOUB NPWJMJ[ B UBOUPT KÂWFOFT /P UJFOF TFOUJEP EJTDVUJS TJ FTUB PQJOJÂO TPCSF FM RVF MB KVTUJDJB TPDJBM FTU² FO MPT GVTJMFT Z MBT QJTUPMBT FT USBUBEP EF QB[ FT KVTUB P JOKVTUB QPSRVF MPT EFGFOTPSFT EF BIPSB MFUSB EFGJOJUJWBNFOUF NVFSUB 2VJFOFT NVSJFSPO ÊÌ i iÊÃi Ì ` Ê` ÃVÕÌ ÀÊ GBTDJOBEPT QPS FTB JMVTJÂO NFTJ²OJDB OP DPOUSJCVZFSPO VOB V PUSB BMUFSOBUJWB KBN²T TF QPOES²O EF BDVFSEP BM SFT QFDUP &O VOB EFNPDSBDJB VOB NBZPS½B QVFEF BDFSUBS P à ÊiÃÌ>Ê « Êà LÀiÊi Ê VO ²QJDF B EJTNJOVJS MB QPCSF[B Z MBT EFTJHVBMEBEFT Z T FRVJWPDBSTF Z FM WFSFEJDUP EF VOB DPOTVMUB FMFDUPSBM TJ FT ÌÀ>Ì>` Ê`iÊ«>âÊiÃÊ ÕÃÌ>Ê Ê MP TJSWJFSPO EF QSFUFYUP QBSB RVF TF FOUSPOJ[BSBO BUSP MFH½UJNP IBZ RVF BDFQUBSMP OPT HVTUF P OPT EJTHVTUF FO DFT EJDUBEVSBT NJMJUBSFT NVSJFSBO NJMMBSFT EF JOPDFO ÕÃÌ>]Ê« ÀµÕiÊ ÃÊ UFT Z TF SFUSBTBSB UPEBW½B N²T MB MVDIB DPOUSB FM FMMP SFTJEF MB FTFODJB NJTNB EF MB DVMUVSB EFNPDS²UJDB {4JHOJGJDB FTUP RVF MB HVFSSB EFCF JOFWJUBCMFNFO `ivi à ÀiÃÊ`iÊÕ >ÊÕÊ ÌÀ>Ê TVCEFTBSSPMMP &O "N¹SJDB -BUJOB IB JEP SFOBDJFOEP FO UF SFHSFTBS B $PMPNCJB &O BCTPMVUP -BT SFBDDJPOFT UBO NFEJP EF FTF BRVFMBSSF EF SFWPMVDJPOFT Z DPOUSBSSFWP UP EFM (PCJFSOP DPNP EF MBT QSPQJBT '"3$ JOEJDBO RVF > ÌiÀ >Ì Û>Ê > ?ÃÊÃiÊ MVDJPOFT MB JEFB EF RVF B GJO EF DVFOUBT MB EFNPDSBDJB OJ VOP OJ PUSP MP DSFFO BT½ 1PS TV QBSUF MPT QSPQJPT M½EF « `À? Ê`iÊ>VÕiÀ` FT FM ÈOJDP TJTUFNB RVF USBF QSPHSFTP EF WFSEBE BUBKB MB SFT EF MPT QBSUJEPT RVF QSPNPWJFSPO FM i/Pw MPT FY 1SF WJPMFODJB Z DSFB VOBT DPOEJDJPOFT EF DPFYJTUFODJB QBD½ TJEFOUFT 6SJCF Z 1BTUSBOB JOTJTUFO FO RVF TV PQPTJDJÂO GJDB RVF QFSNJUFO JS EBOEP TPMVDJÂO B MPT QSPCMFNBT &T BM "DVFSEP OP MP FSB B MB QB[ TJOP B VOB QB[ JOKVTUB QPS NFOPT WJTUPTP Z FTQFDUBDVMBS EF MP RVF RVJTJFSBO MPT JN MP RVF FTUJNBCBO DPODFTJPOFT FYDFTJWBT B MB HVFSSJMMB TPCSF UPEP FO QBDJFOUFT KVTUJDJFSPT QFSP KV[HBOEP DPO MPT QJFT CJFO BTFOUBEPT TP MP DPODFSOJFOUF B MB JNQVOJEBE QBSB MPT BVUPSFT EF EFMJUPT EF TBOHSF CSF MB UJFSSB {DV²MFT TPO MPT NPEFMPT SFWPMVDJPOBSJPT FYJUPTPT {-B Z MPT iDS½NFOFT DPOUSB MB IVNBOJEBEw BT½ DPNP MPT QSJWJMFHJPT RVF US²HJDB Z MFU²SHJDB $VCB EF MB RVF NJMMPOFT EF DVCBOPT TJHVFO USB PCUFO½BO MBT '"3$ FO TV NVUBDJÂO EF NPWJNJFOUP TVCWFSTJWP B GVFS UBOEP EF FTDBQBS DVFTUF MP RVF MFT DVFTUF {-B EFTUSP[BEB 7FOF[VF [B QPM½UJDB MFHBM &TUP TJHOJGJDB RVF RVFEB TJFNQSF VOB PQPSUVOJEBE MB RVF TF NVFSF MJUFSBMNFOUF EF IBNCSF TJO NFEJDJOBT TJO USBCBKP QBSB MB QB[ CBTUB RVF QSFWBMF[DB FO BNCBT QBSUFT DJFSUP FTQ½SJUV TJO MV[ TJO FTQFSBO[BT TFDVFTUSBEB QPS VOB QFRVFÁB QBOEJMMB EF EF QSBHN²UJDP Z VOB QJ[DB EF CVFOB WPMVOUBE NBHPHPT Z OBSDPUSBGJDBOUFT " N½ FO NFEJP EF MB EFTB[ÂO RVF NF QSPEVKP FM SFTVMUBEP EFM -PT QBSUJEBSJPT EFM i/Pw RVF BHJUBCBO FM FTQFDUSP EF VOB QMFCJTDJUP NF MFWBOU BMHP FM ²OJNP N²T UPEBW½B RVF MBT QBMBCSBT $PMPNCJB RVF QPES½B WPMWFSTF iDBTUSPDIBWJTUBw TJ HBOBCB FM i4½w BMFOUBEPSBT DPO MBT RVF 5JNPDIFOLP DPNFOU FM SFTVMUBEP EF MB WPUB TBC½BO NVZ CJFO RVF OP FSB DJFSUP 4J FO BMHÈO NPNFOUP iFM TPDJB DJÂO WFS B MPT KFGFT HVFSSJMMFSPT FO -B )BCBOB DPO TVT JNQFDBCMFT MJTNP EFM TJHMP 99*w FKFSDJ BMHVOB JOGMVFODJB FO "N¹SJDB -BUJOB HVBZBCFSBT TVT QVSPT FOUSF MPT EFEPT Z BDBTP MPT WBTPT EF SPO BM BM BRVFMMP ZB RVFE NVZ BUS²T Z EBEP FM FTUBEP DBMBNJUPTP BEPOEF IB DBODF EF MB NBOP TJHVJFOEP FYQFDUBOUFT FM SFDVFOUP EFM FTDSVUJOJP /P MMFWBEP B 7FOF[VFMB FM DIBWJTNP TF IB DPOWFSUJEP N²T CJFO FO FM FSB FTF FM FTQFDU²DVMP EF DPNCBUJFOUFT OPTU²MHJDPT EF MB EVSB Z TBDSJGJ FKFNQMP MVNJOPTP EF MP RVF OP IBZ RVF IBDFS TJ TF RVJFSF WJWJS DPO DBEB WJEB EFM NPOUF Z MB JOUFNQFSJF TJOP MB EF VO HSVQP EF IPNCSFT QB[ Z MJCFSUBE Z QSPHSFTBS FOWFKFDJEPT Z DBOTBEPT BDBTP DPOTDJFOUFT FO FM GPOEP EF TVT DPSB[P $PMPNCJB IB TFHVJEP TJFOEP VOB EFNPDSBDJB FO FM NFEJP TJHMP OFT BVORVF OVODB MP SFDPOPDFS½BO RVF BRVFMMP RVF SFQSFTFOUBO FTU² Z QJDP RVF IB EVSBEP MB HVFSSJMMB Z FTP FT ZB VO FYUSBPSEJOBSJP N¹SJUP ZB GVFSB EFM UJFNQP Z EF MB IJTUPSJB DPOEFOBEP JSSFNJTJCMFNFOUF B EF 6O FTGVFS[P N²T EF UPEPT QBSB RVF MB QB[ TFB QPTJCMF TBQBSFDFS 4J OP GVFSB BT½ OP IVCJFSB IBCJEP "DVFSEP EF 1B[ : QVFEF WPMWFS B IBCFSMP B DPOEJDJÂO EF RVF MBT QBSUFT TBRVFO MBT DPODMVTJPOFT 0DUVCSF EF BEFDVBEBT EF MB DPOTVMUB EFNPDS²UJDB RVF BDBCB EF PDVSSJS Ï .BSJP 7BSHBT -MPTB -B QSJNFSB EF FMMBT FT RVF MB QPQVMBSJEBE EF MBT '"3$ RVF FO %FSFDIPT NVOEJBMFT EF QSFOTB FO UPEBT MBT MFOHVBT SFTFSWBEPT B BMHVOPT NPNFOUPT EFM NFEJP TJHMP USBOTDVSSJEP MMFH B TFS BMUB IB DB½ &EJDJPOFT &- 1"¡4 4-

8* ", "ÊÊ Ê 1 "

Õ iÀ Ê i > >ÀÞ &O MB MVDIB JOUFSOB EFM BEJDUP FTU² MB CBUBMMB FOUSF FM BOUPKP FM HVTUP Z MPT EFTFPT GSFOUF B MB EFUFSNJOBDJÂO EF MB WPMVOUBE EF EFDJEJS DV²OEP DÂNP Z FO EÂOEF 4J HBOB FM BOUPKP FM DVFSQP NBOEB Z MB WPMVOUBE TF RVFEB TPNFUJEB B TVT DBQSJDIPT &O DBNCJP TJ MB WP MVOUBE TF JNQPOF FM DVFSQP UFOES² RVF PCFEFDFS &OUSF FM RVFSFS Z FM QPEFS FTU² FM FTGVFS[P Z MB EJT DJQMJOB 4FS DPOTUBOUF FT JOEJTQFOTBCMF QBSB EPCMFHBS MB QFSTJTUFOUF UFOUBDJÂO EF TBUJTGBDFS MBT FYJHFODJBT EFM DVFSQP -BT HBOBT EF TFHVJS HP[BOEP MP RVF N²T OPT HVTUB FT VO JNQFSBUJWP RVF QVFEF BSSBTUSBS B DVBMRVJFS NFO UF GS²HJM Z E¹CJM TJNQMFNFOUF QPSRVF FM DVFSQP UJFOF VOB HSBO QPEFS EF FYJHJS UPEP UJQP EF QMBDFS Z EF IVJS EF DVBMRVJFS TVGSJNJFOUP Z EPMPS &M HVTUP QPS FTUBS OBEBOEP FO FM NVOEP EF MBT TB UJTGBDDJPOFT Z TJO FM GSFOP EF VOB NFOUF SFTUSJDUJWB SF TVMUB VO FYRVJTJUP UPCPH²O SVNCP B RVF FM DVFSQP WJ WB FO FM USPOP EF MBT QPUFTUBEFT /P IBZ RVJFO MP EFTUJUVZB EF TV NBOEBUP Z QPS FTP TF WB B EFGFOEFS EF DVBMRVJFS JOUFOUP QPS EFSSPDBS TV FOPSNF DPOUSPM 6O ZP GVFSUF Z EFDJEJEP OP BENJUF MPT DIBOUBKFT Z

9 ,ÊÊ

" >À ÃÊ À }Õi &TDSJCP EF QSJTB MB QSFTFOUF DPMBCPSBDJÂO QPSRVF SFDJC½ OPUJDJBT EF RVF MB RVFSJEB U½B .FNF TF FO DVFOUSB FO VO IPTQJUBM SFQPOJFOEP TVT BCVOEBO UFT DBSOFT EF VO UFSSJCMF BDDJEFOUF $VBMRVJFS BUB RVF DPOUSB MB DPSQPSFJEBE EF MB U½B 3FNFEJPT TVFMF TFS EF VOB HSBWFEBE BCTPMVUB MP RVF FO PUSPT FSBO QSPCMFNJUBT FO FMMB TF QSFTFOUBO DPNP QSPCMFNBT JSSFTPMVCMFT )F TBCJEP RVF IBZ NVDIBT HFOUFT RVF IBCJ UBO MB DJVEBE B MBT RVF MFT DIPDBO MBT SBUBT UBQB U½BT 1PS NJ QBSUF TPZ VO WFSEBEFSP GBO EF EJDIPT BOJNBMFT Z FTUPZ DPOWFODJEP EF RVF FO BÁPT N²T BT½ DPNP EFGJFOEFO B MBT CBMMFOBT FTUBS²O EF GFOEJFOEP B MBT SBUBT UBQBU½BT : DÂNP OP RVFSFS MBT DPO QFMBKFT UBO CFMMPT DPNP CFSSFOEBT D²SEF OBT TBSEPT Z PUSBT WBSJFEBEFT RVF MBT IBDFO SFBMNFOUF FODBOUBEPSBT 5½B .FNF OP DPNQBSUF NJ HVTUP QPS FTPT BOJNBMFT RVF FMMB MMBNB TFODJ MMBNFOUF CJDIPT &M PUSP E½B MB U½B TBM½B B DPNVMHBS DPNP UPEB NVKFS EFWPUB BM UFNQMP RVF RVFEB FOGSFOUF EF TV DBTB Z DVBOEP TF EJTQPO½B B CBKBS MPT FTDBMPOFT IB DJB MB CBORVFUB WJP EF QSPOUP VOB SBUB CFSSFOEB Z RVF TJ EBCB FM QBTP BEFMBOUF RVFEBS½B FO DBMJEBE EF QJFM FTUSFMMBEB DPOUSB FM QJTP EFTEF MVFHP MB SB UB OP MB U½B QPS MP RVF .FNF USBUÂ GVOEBNFOUBM NFOUF EF FWBEJS FM TBDSJGJDJP EFM BOJNBM QBSB MP DV BM UVWP RVF CSJODBS EFM UFSDFS FTDBMÂO BM QSJNFSP DBZFOEP BCTPMVUBNFOUF EF QVOUBT &M HSJUP GVF EF NPMFEPS QBSB RVF VTUFE TF JNBHJOF DÂNP DBZÂ MB

·+Õ j Ê > `>¶ FYUPSTJPOFT EF TV QSPQJP DVFSQP FT DBQB[ JODMVTP EF EFUFDUBS MBT CBKBT FTUSBUFHJBT Z FOHBÁPT QBSB RVFSFS JNQPOFS TV DBQSJDIP EF RVF TF SPNQB MB EFUFSNJOB DJÂO EF EFDJS VO UBKBOUF OP Z VO SPUVOEP IBTUB BRV½ QPS QBSUF EF MB WPMVOUBE &M DVFSQP DVFOUB DPO NVDIP SFDMBNPT F JNQVMTPT QBSB CVTDBS SPNQFS DPO MBT QSPQVFTUBT EF EJFUB P EF QSPIJCJDJÂO RVF USBUB EF JNQPOFS MB NFOUF B USBW¹T EF MB WPMVOUBE &M QSJODJQBM SFDVSTP RVF UJFOF FT VO TJN QMF `TF NF BOUPKÂ Z DPNP NF HVTUB UBOUP Z OP MP QVF EP EFKBS QVFT BDDFE½ "VORVF FO MB NFOUF TVSKB MB EF SSPUB DPO FM TFOUJNJFOUP EF DVMQB FM DVFSQP ZB HBOÂ TV CBUBMMB DPOTJHVJFOEP MP RVF RVFS½B UBM Z DPNP MP TVFMFO IBDFS MPT OJÁPT DPOTFOUJEP Z DBQSJDIPTPT $VBOEP VO BEJDUP RVJFSF TBMJS EF TV QSPCMFNB OF DFTJUB DPOTJEFSBS NVZ FO TFSJP RVF TV ZP FT EFDJS MB NFOUF Z MB WPMVOUBE UJFOFO RVF TPNFUFS Z EPNJOBS BM DVFSQP Z TVT NÈMUJQMFT BSUJNBÁBT RVF NBOFKB DPO FT QFDJBM EFTUSF[B QBSB MJCSBSTF EF MB JOUFMJHFODJB DPSQP SBM RVF EPNJOB MB NFOUF 1PS FTP MB QSFHVOUB DMBWF FT {2VJ¹O NBOEB FO UV DVFSQP P WJWFT TPNFUJEP B ¹M

º ÃÊÌÀ>L> ÃÊÊ `iÊÌ >Ê i i» U½B EFCP EFDJSMF RVF FT BMHP QBSFDJEP B MB EFGFOTB EF LBSBUF MMBNBEB i-B HSVMMBw FO MBT QFM½DVMBT EF ,BSBUF ,JE 1PS FWBEJS B MB SBUB MB U½B DBZÂ DPO VO GVFSUF DPTUBMB[P ZB RVF TV GSPOEPTB DPSQPSFJEBE WFODJÂ MB EFMJDBEF[B EF MPT EFEPT EF CBMMFU 5PMJUP RVF PZÂ FM HSJUP TBMJÂ TÂMP QBSB WFS DPSSFS B MB SBUB Z QBSB SFDJCJS VOB BOEBOBEB EF RVFKBT EF QBSUF EF .FNF M QSFUFOEJFOEP BIPSSBS EFDSFUÂ RVF OP MF IBC½B QBTBEP OBEB IBTUB RVF VO FTQFDJBMJTUB EFUFSNJOÂ GSBDUVSB FYQVFTUB EF MPT EFEPT EF MB U½B RVJFO FO MP TVDFTJWP UVWP OFDFTJEBE EF BOEBS FO TJMMB EF SVF EBT EVSBOUF TV DPOWBMFDFODJB %FTEF MVFHP B .FNF ZB OP MF JOUFSFTB FO MP N²T N½OJNP MB TVQFSWJWFODJB EF MBT SBUBT Z DBEB WF[ RVF WF VO FKFNQMBS EF ¹TUBT NBMEJDF FM NP NFOUP FO RVF SFTQFUÂ MB WJEB EFM BOJNBM DPO MP RVF OP OBEB N²T OP EFGFOEFS² B MBT SBUBT UBQBU½BT TJ OP RVF OP FTUBS² EF NPEB QPS MB QBTJÂO RVF EFCF NPT EFNPTUSBS MPT BDUVBMFT TFSFT IVNBOPT FO GB WPS EF MPT BOJNBMFT : QVFEFO IBDFS MP RVF RVJFSBO FO UBOUP MPT BOJNBMFT OP QSPUFTUFO 1FSTPOBMNFO UF NF DIPDB RVF B MPT QFSSPT MPT TBRVFO B QBTFBS BNBSSBEPT B VO TFS RVF FT UV DPNQBÁFSP OP MP TB DBT BNBSSBEP *HVBM FTUPZ FO DPOUSB EF MPT QBSRVFT DBOJOPT FO WJSUVE EF IBD¹STFNF VOB EJTDSJNJOB DJÂO BCTVSEB DPOUSB MPT EFN²T BOJNBMFT QFSP EFT EF MVFHP DBEB RVJFO TVT HVTUPT !DBSMPTNPSTB

1~(*/" #

6 - $ Ê9Ê - $

>À ÃÊ ÀÌjÃÊ6?âµÕiâ

` V iÃÊÊ ÞÊV ÌÀ>` VV ià %FQSJNF Z BOHVTUJB MB JOUSBORVJMJEBE FYQVFTUB FO EJWFSTBT SF HJPOFT EFM QB½T -B UFDOPMPH½B Z TVT BQMJDBDJPOFT B MB NPEFSOJ EBE FO MB WJEB BDUVBM UJFOEFO VO FTQBDJP DPOUSBEJDUPSJP EF BHSF TJWJEBE Z EFTDPOGJBO[B FO DVBOEP B QB[ QSPQPSDJPOBM FO DPNVOJEBEFT SVSBMFT Z VSCBOBT -FHJTMBDJÂO Z KVTUJDJB JOUFHSBO FM CJOPNJP EFM FTGVFS[P QÈ CMJDP EFQFOEJFOUF EF MB WPMVOUBE QSPQJB EF DBEB IBCJUBOUF FO FM QSPDFTP EF TPMJEBSJEBE DPO MB BQPSUBDJÂO Z MB SFD½QSPDB FYJHFO DJB DPSSFTQPOEJFOUF TFHVSJEBE JOUFHSBEPSB EF USBCBKP Z SFNV OFSBDJÂO FO HSBEP QSPQPSDJPOBM EF SFOEJNJFOUP Z FTU½NVMP &O FTUF DPOUFYUP UJFOF FTQBDJP MB NVKFS BQPSUBOEP TV DBQB DJEBE FO MBT UBSFBT EFM IPHBS OP FYFOUBT EFM USBUP EFTDPOTJEFSB EP WJPMFOUP Z DPNQBSUJEP DPO FM IPNCSF 4V DPOTJEFSBDJÂO EF TF YP E¹CJM RVFEB FO FM SFDVFSEP SPN²OUJDP BIPSB DPO TJNVMU²OFP DVNQMJNJFOUP B MBCPSFT BOUFSJPSNFOUF QSPQJBT EFM NBTDVMJOP &M IPNCSF DBSBDUFSJ[BEP QPS MB GVFS[B G½TJDB FYQVFTUB FO FM USBCBKP JOUFHSB VO EFTFNQFÁP DPO IFSSBNJFOUBT JOEVDUPSBT EF UFDOPMPH½B DPO EFCFSFT EF QFOTBNJFOUP DSFBUJWP JNQVMTPSB EF MB QSPEVDUJWJEBE Z NFEJEB EF TV DPNQPSUBNJFOUP 1SPEVDUJWJ EBE FT FM GBDUPS EFUFSNJOBOUF FO FM DPNQPSUBNJFOUP JOGMVJEP QPS MB DPOUSBEJDDJÂO EF MB JOEJGFSFODJB P FM EFTFNQFÁP SFTQPOTBCMF &O MBT DJVEBEFT MB NPWJMJEBE FTU² FO QFSNBOFOUF MVDIB DPO USB FM UJFNQP TJO TPTMBZBS FM DPTUP RVF HSBWJUB FO FM CPMTJMMP EFM VTVBSJP EFM USBOTQPSUF DPMFDUJWP BQPSUBEP QPS MPT PSHBOJTNPT QÈ CMJDPT Z QSJWBEPT FO QFSNBOFOUF FOGSFOUBNJFOUP QPS UBSJGBT Z DB MJEBE EF TFSWJDJP &M QSPQÂTJUP EF TPMVDJÂO FO (VBEBMBKBSB TF FEJ GJDB MB -½OFB RVF TJO SFTUBSMF FTGVFS[P F JNQPSUBODJB IB DBVTBEP USBTUPSOPT WJBMFT Z FDPOÂNJDPT B MPT FTUBCMFDJNJFOUPT BGFDUBEPT QPS MB WFDJOEBE EF MBT PCSBT Z TV NBHOJUVE -B JOUSBORVJMJEBE EFTBMJFOUB QPS FM BVNFOUP EF IFDIPT EF MJDUJWPT NVDIPT EF FMMPT TJO EFOVODJB QPS MB QSPQJB JOVUJMJEBE RVF SFQSFTFOUB MB BQPSUBDJÂO EF UJFNQP TJO BMDBO[BS SFTQBMEP B MB EFOVODJB DPO FGJDBDJB Z B DBNCJP MB QPTJCJMJEBE EF SFQSF TBMJBT QPS QBSUF EF MPT DBVTBOUFT EFM BDUP EFMJDUJWP 4ÂMP DBCF SF TJHOBDJÂO Z QPTUFSJPS JOEJGFSFODJB DPO SFTJHOBEB BDFQUBDJÂO B MB DBSFODJB EF KVTUJDJB -B DPNQMJDJEBE BCSJHB FM TPCPSOP Z FT WJWFODJB BDFQUBEB DPNP QBSUF EF MB DVMUVSB QPS MB RVF BÈO OP TF EFGJOF SFTQPOTB CJMJEBE Z FYJHFODJB DPSSFTQPOEJFOUF B MBT BVUPSJEBEFT -PT IF DIPT FYQVFTUPT Z EJWVMHBEPT QPS MPT NFEJPT EF DPNVOJDBDJÂO EF DPCFSUVSB NBTJWB Z B MPT RVF BDDFTP EJSFDUP MB UFDOPMPH½B EFM DJCFSFTQBDJP TPO NFSPT EFTBIPHPT EF GSVTUSBDJÂO TJO BMDBO[BS MB FYJHFODJB EFM EFCFS B MBT BVUPSJEBEFT DPSSFTQPOEJFOUFT Z RVF TÂMP EBO BCSJHP B FODVFTUBT EF UFOEFODJB DVFTUJPOBCMF EPOEF MB NBOJQVMBDJÂO FT BKFOB B MB WFSEBE -P FOVODJBEP FT JODPNQMFUP BQVOUBOEP EFM FOPSNF DBU² MPHP EF DPOEJDJPOFT Z DPOUSBEJDDJPOFT DPOUFOJFOEP TÂMP BMHV OPT FKFNQMPT BEWFSUJEPT FO MB TPDJFEBE TJO FODPOUSBS FO MB EF OVODJB MB SFTQVFTUB SFTQPOTBCMF EF IPOFTUJEBE QFSP TPCSF UPEP DPO MB QBSUJDJQBDJÂO EF DBEB QPCMBEPS FO GBWPS EF TV BDUJ UVE WFSEBEFSBNFOUF D½WJDB %JPT OPT HVBSEF EF MB EJTDPSEJB TJDQN!JOGPSNBEPS DPN NY


1~(*/" #

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

%PNJOHP EF PDUVCSF EF '0504 &- */'03."%03 t ( ("--0

130$&40 7PMVOUBSJPT USBOTGPSNBOEP MB NBUFSJB QSJNB

1-"/04 %F DBTJ NFUSPT EF BMUVSB DBEB UPSSF QFTBSÈ VOB UPOFMBEB

6/" $"5&%3"&M GSBOD T 0MJWJFS (SPTTFU¡UF JOJDJB IPZ MB DPOTUSVDDJªO FO DBSUªO EF MBT EPT UPSSFT EF MB $BUFESBM .FUSPQPMJUBOB &TQFSB RVF MPT UBQBU¤PT TF TVNFO BM QSPZFDUP FO MB 1MB[B EF MB -JCFSBDJªO 1PS (FSBSEP &TQBS[B

FG©NFSB

(

VBEBMBKBSB EFTEF TV DVBSUB GVOEB DJÂO FSJHJÂ FO FM DFOUSP NJTNP EF TV DVBESJDVMB TVT FTQBDJPT EF QPEFS &EJGJDBDJPOFT RVF SFTHVBSEBO B MPT IPNCSFT RVF UPNBO MBT EFDJTJPOFT RVF JNQBDUBO B NJMMPOFT EF IPNCSFT Z NVKFSFT RVF WJWFO BMSFEFEPS EF FTF DFOUSP &TQBDJPT JDÂOJDPT QBSFEFT RVF PDVMUBO RVF OP NVFTUSBO Z RVF TJO FN CBSHP TPO FM SFGFSFOUF PCMJHBEP DVBOEP TF IBCMB EF MB DJVEBE 1BMBDJP EF (PCJFSOP 1BMBDJP -FHJTMBUJWP FM 4VQSFNP 5SJCVOBM EF +VTUJDJB Z MB $BUFESBM TPO MPT FEJGJDJPT EPOEF TF FKFSDF FM QPEFS EF FTQBMEBT B MPT DJVEBEBOPT Z MB EFNPDSBDJB TF PMWJEB QPS NV DIPT NPNFOUPT -B DFOUFOBSJB $BUFESBM FT BDBTP FM T½NCPMP EF NBZPS JOGMVKP Z QPEFS FO UPEB MB NFUSÂQPMJ TVT UP SSFT SFQSFTFOUBO B +BMJTDP FO UPEP FM NVOEP Z FTUF EPNJOHP WPMWFS²O B TFS FEJGJDBEBT CMPRVF B CMP RVF QPS MPT DJVEBEBOPT RVF TF JOUFSFTFO FO IBDFS MP UPEP DPNP QBSUF EFM 'FTUJWBM $VMUVSBM 4VDFEF (VBEBMBKBSB 4ÂMP RVF FTUB WF[ TFS² FG½NFSB Z EF DBSUÂO HSBDJBT BM GSBOD¹T 0MJWJFS (SPTTFUºUF &M FKFS DJDJP FO BQBSJFODJB TFODJMMP DPNFO[BS² IPZ B MBT EF MB NBÁBOB DVBOEP MPT WPMVOUBSJPT P RVJF OFT EFDJEBO JODMVJSTF GPSNFO VOB WBMMB IVNBOB QBSB USBTMBEBS MPT CMPRVFT EF DBSUÂO B MB 1MB[B EF MB -JCFSBDJÂO 6OB WF[ BI½ DPNFO[BS²O B FEJGJDBS BSSJCB IBDJB MB CBTF MBT EPT UPSSFT RVF QFTBS²O DB TJ EPT UPOFMBEBT i&TQFSP RVF MB HFOUF BDPKB CJFO FTUB DPOTUSVD DJÂO QFSP QBSUF EF FTP EF RVF MB BSRVJUFDUVSB FO HFOFSBM UF IBDF DSFFS RVF DPO VO FEJGJDJP RVF B MB WJTUB IBDJB BGVFSB FT CFMMP RVF FT JNQPOFOUF UÈ DSF FT RVF IBDJB BEFOUSP EFCF IBCFS BMHP NVZ JNQPS UBOUF QPS FTP MB QSPQVFTUB EF IBDFS FEJGJDBDJPOFT NPOVNFOUBMFT FO DBSUÂO QPSRVF DPO FTP TF NVFT USB RVF FM QPEFS OP FT N²T RVF VOB GBDIBEB OP IBZ OBEB BEFOUSPw FT MP QSJNFSP RVF DPNFOUB 0MJWJFS NJFOUSBT DBNJOB IBDJB FM DFOUSP EF MB DJVEBE &M BSUJTUB GSBOD¹T IB SFDSFBEP TJFNQSF DPO MB QBSUJDJQBDJÂO EF MB HFOUF FEJGJDJPT BMSFEFEPS EFM NVOEP 5PEP DPO MB JOUFODJÂO EF NPTUSBS RVF FM QP EFS QFSUFOFDF B MPT IPNCSFT Z NVKFSFT EF B QJF MPT RVF OP IBCJUBO FTPT FTQBDJPT i4JFNQSF IBZ EPT MFDUVSBT QPTJCMFT QBSB MB HFOUF QJFOTP RVF FTUBT DPOTUSVDDJPOFT TPO VO KVFHP BM GJOBM QBSB MB HFOUF BM QBSUJDJQBS FTUP FT VO KVFHP FOUPODFT UÈ UJFOFT EPT QPTJCJMJEBEFT EF MFDUVSB MFFSMB DPNP VOB DS½UJ DB BM QPEFS P TJNQMFNFOUF EJTGSVUBSMBw Z IBDF IJO DBQJ¹ FO MP FG½NFSP EF MB DPOTUSVDDJÂO i&T FG½NF SP QFSP FT VOB JOWJUBDJÂO B TBCFS RVF KVOUPT QPEFNPT DPOTUSVJS UPEP FTUP Z ZB EFTQV¹T EFQFO EF EF MBT QFSTPOBT TJ MP UPNBO N²T BMM² QPSRVF TJ QPEFNPT DPOTUSVJS IBTUB EÂOEF RVFSFNPT MMFHBS DPO FTUBT BDDJPOFTw

"35*45" &M SFTQPOTBCMF EFM QSPZFDUP EF MBT UPSSFT RVF TF FEJGJDBSÈO IPZ

UBM FO FM FRVJQP EF 0MJWJFS (SPTTFUºUF QMBUJDB RVF FTQFSBO QFSTPOBT iEFTEF MPT DVBUSP BÁPT IBTUB MPT BÁPT QVFEFO IBDFS EFTEF VOB DBKB P FTUBS EV SBOUF UPEP FM QSPDFTP )PZ FNQF[BNPT EFTEF MB NBÁBOB TFS²O N²T P NFOPT TJFUF IPSBT EF DPOT USVDDJÂO &NQF[BNPT EFTEF BSSJCB Z OP VTBNPT OJOHVOB N²RVJOB FT DBSUÂO DJOUB Z HFOUF &TQF SBNPT RVF MMFHVF NVDIB HFOUF QPSRVF FM USBCBKP FT EF FMMPTw 4PO DBTJ EPT NJM DBSUPOFT Z QJF[BT RVF GVF SPO BSNBEBT FO FM FEJGJDJP EFM $FOUSP 6OJWFSTJUB SJP EF "SUF "SRVJUFDUVSB Z %JTFÁP EF MB 6OJWFSTJ EBE EF (VBEBMBKBSB "RV½ MFHBSPO MPT WPMVOUBSJPT QBSB USBCBKBS DPO DVDIJMMPT DJOUB Z DBSUÂO UPEP CB KP MBT EJSFDDJPOFT EF 1VEEV Z &TUFMB 2VJOUFSP &MMPT EJFSPO GPSNB BM QBQFM MP NPMEFBSPO Z MP EFKBSPO MJTUP QBSB RVF EFKF EF TFS VOB TJNQMF DBKB Z TF USBOT GPSNF FO VOB SFDSFBDJÂO 6OB WF[ DPODMVJEBT MBT EPT UPSSFT FTU²T RVF EBS²O FYQVFTUBT EVSBOUF EPT E½BT Z FM NBSUFT TF S²O EFSSJCBEBT DPNP NFU²GPSB EF MP FG½NFSP EFM QPEFS Z TVT SFQSFTFOUBDJPOFT &M NJTNP 1VEEV DP NFOUB TPCSF FMMP i-BT WBNPT B UJSBS MF WBNPT B QF EJS B MB HFOUF RVF MP IBHB FM NBSUFT DPO DVFSEBT EF &M QSPDFTP QSFWJP -JPOFM 1VEEV RVJFO DPPSEJOÂ FM UBMMFS EF FMB TFHVSJEBE WBNPT B UJSBS QBSB RVF TF DBJHBO MVFHP CPSBDJÂO EF BSNBEP EF DBSUPOFT Z QJF[B GVOEBNFO QPESFNPT CSJODBS TPCSF FM DBSUÂO Z KVHBS &TUP FT

"-Ê " ", -Ê Ê/ *" À > ` Ê â? iâÊ ÃV Ì %VSBOUF UPEB MB OPDIF FM $FOUSP EF MB DJVEBE TF IB NBOUFOJEP FO NPWJNJFOUP QBSFDJFSB RVF EF QSPOUP FT BI½ EPOEF IBZ RVF FTUBS QPSRVF BMHP FTU² QBTBOEP FO PUSBT QBSUFT 4PO DBTJ MBT DJODP EF MB NBÁBOB DBEB WF[ MMFHB N²T HFOUF -BT FTDBMFSBT EFM USFO MJHFSP FO 1MB[B 6OJWFSTJEBE Z FO MB FTUBDJÂO 3FWPMVDJÂO OP TF EBO BCBTUP QFSP TÂMP EF TVCJEB -PT BVUP CVTFT VSCBOPT ZB OP UJFOFO SVUB FOUSBO Z TBMFO QPS DVBMRVJFS DBMMF "VUPT Z DBNJPOFUBT TF WBO FTUBDJPOBOEP QPS MBT DBMMFT USBOTWFSTBMFT B 7B MMBSUB Z "N¹SJDBT /VNFSPTBT GBNJMJBT IBO EPSNJEP CBKP MPT QPSUBMFT UPEPT MPT QPSUBMFT EFM $FOUSP )JTUÂSJ DP P BQFOBT EPSNJUBEP BMHVOBT IBO MMFWBEP UJFOEBT EF DBNQBÁB EF FTBT RVF TF JOTUBMBO FO DJODP NJOVUPT PUSBT TF BDVSSVDBSPO DPNP DB QVMMPT IVNBOPT FO MBT CBODBT EF MPT KBSEJOFT

-PT DPNFSDJBOUFT IBO WFMBEP Z WFOEJEP Z OP EFKBO EF WFOEFS TPCSF UPEP MPT RVF PGSFDFO DBG¹ DBOFMB BMJNFOUPT B NFEJB BWFOJEB "MDBM EF EF QSPOUP MPT IJMPT EF GPDPT QBSQBEFBO DP NP GBUJHBEPT QPS MB KPSOBEB RVF BHVBOUFO VO QPDP N²T BOUFT EF RVF UPEB MB HFOUF TF WBZB DP NP WJSVUBT EF NFUBM BUSB½EBT QPS VO QPEFSPTP JN²O : TF WB FO QFRVFÁBT PMFBEBT BMFSUBEB QPS FM SVNPS EF MBT CBOEBT EF HVFSSB RVF BOUFT EFM BMCB IBO DPNFO[BEP B UPDBS FTDPMFUBT QPS MB BWFOJEB +V²SF[ EF $PSPOB B 'FEFSBMJTNP .JMFT EF QFSTPOBT DBNJOBO QPS MB BWFOJEB IBDJB FM QPOJFOUF FO MBT FOUSFDBMMFT BHVBSEBO TFÁPSBT EF BCPMFOHP UBQBU½P BSSPQBEBT QPS TVT GBNJMJB SFT TFOUBEBT FO TJMMBT DPO TBDPT Z DIBMJOBT %F QSPOUP JSSVNQF VOB EBO[B NJMFT EF DBT DBCFMFT TBMUBO TPCSF FM QBWJNFOUP N²T EF DJFO

VO QSPZFDUP QPS Z QBSB MB HFOUF &M QBQFM FT FG½NF SP QPSRVF QVFEF MMPWFS P RVF IBHB WJFOUP QFSP MP RVF MF JOUFSFTB B 0MJWJFS FT NPTUSBSMF B MB HFOUF RVF KVOUPT QPEFNPT IBDFS DPTBT HSBOEJPTBT FTF FT FM NFOTBKF RVF MB HFOUF RVF DPOTUSVZF JHMFTJBT DBUF ESBMFT DBTUJMMPT Z QBMBDJPT TPO MB HFOUF EFM QPEFS QFSP B 0MJWJFS MF HVTUB EFDJS RVF TJ OPT KVOUBNPT OPTPUSPT UBNCJ¹O QPEFNPT IBDFSMPw .JFOUSBT TF EFUJFOF B NJSBS MB 1MB[B EF MB -J CFSBDJÂO 0MJWJFS (SPTTFUºUF SFGMFYJPOB VO QPDP NJSB MB FYQMBOBEB Z WPMUFB IBDJB FM FEJGJDJP RVF DVNQMF BÁPT DPNP $BUFESBM .FUSPQPMJUBOB .FODJPOB RVF T½ RVF FT VO NFOTBKF QPM½UJDP FM EF SSJCBS FM USBCBKP DPOTUSVJEP FO DPNVOJEBE QFSP RVF BOUFT RVF OBEB TF USBUB EF DPNQBSUJS EF IBDFS BMHP KVOUPT i$BEB VOB EF MBT UPSSFT EF DBSUÂO WB B QFTBS N²T EF VOB UPOFMBEB FOUPODFT MB ÈOJDB NB OFSB EF MFWBOUBSMBT FT IBDFSMP KVOUPT 4F USBUB EFM QMBDFS EF DPOTUSVJS KVOUPT Z UBNCJ¹O IBDFS VOB DP TB RVF MPT EFK¹ JNQSFTJPOBEPT $MBSP RVF TF USBUB EF IBDFS BMHP RVF JNQSFTJPOF QBSB RVF MB HFOUF TF BQSPQJF EF FMMB QPSRVF FT TV DPOTUSVDDJÂOw &M NBSUFT VOB WF[ EFSSJCBEB MB JOTUBMBDJÂO RVFEBS²O BUS²T MPT PDIP NFTFT EF QMBOFBDJÂO Z USB CBKP 2VFEBS² TÂMP FM TJMFODJP Z FM SVNPS EF RVF MB TPDJFEBE QVEP FEJGJDBS TV QSPQJB DBUFESBM

&26*10 &TUFMB 2VJOUFSP Z -JPOFM 1VEEV EFUSÈT EF MPT QJDPT RVF DPSPOBSÈO MB PCSB

"ÌÀ>ÃÊ À>`>Ã UPDBEPT EF DPMPSJEPT QMVNBKFT TF BHJUBO BM WJFO UP QFSP TV NPWJNJFOUP FT QFDVMJBS Z OVODB WJT UP FO FTUB DJVEBE IBO GPSNBEP DVBUSP HSBOEFT D½SDVMPT RVF HJSBO Z B MB WF[ BWBO[BO DFSS²O EPTF Z BCSJ¹OEPTF JODMJO²OEPTF Z MFWBOU²OEP TF DPO VO EJOBNJTNP TPSQSFOEFOUF FONBSDB EPT QPS GJMBT MBUFSBMFT DVZPT EBO[BOUFT MMFWBO PUSP QBTP WJFOFO EF MB DJVEBE EF .¹YJDP NPT USBOEP VO FTUBOEBSUF EFM BQÂTUPM 4BOUJBHP Z VOB DPSFPHSBG½B JODPNQBSBCMF " MB EJTUBODJB TÂMP TF NJSB VO NBS EF HFO UF CPSEFBOEP VOB DSFTUB JOUFSNJOBCMF EF CBO EFSBT Z FTUBOEBSUFT FO NPWJNJFOUP MPT TPOJEPT TF DPOGVOEFO IBTUB RVF TF JNQPOF B NJUBE EFM DPOUJOHFOUF MB NÈTJDB EF WJFOUP EF VOB CBOEB NPOVNFOUBM FO MB DVBM UPEPT MPT JOTUSVNFOUPT TF IBO NVMUJQMJDBEP QPS DBUPSDF Z N²T 1PS VO MBEP QFSTPOBT NVFTUSBO P SFQBSUFO

HSBOEFT FTUBNQBT DVBM HBMMBSEFUFT JOWPDBOEP HSBDJB FO GBWPS EF OJÁPT Z GBNJMJBT QPS PUSP KÂ WFOFT EJTUSJCVZFO WPMBOUFT TVQMJDBOEP MB TPMJ EBSJEBE EF UPEPT FO GBWPS EF VOB KPWFO EFTBQB SFDJEBy Z OP TBCFNPT EF DVBOUBT N²T 0USB EBO[B MMBNB MB BUFODJÂO TVT UPDBEPT TPO TPNCSFSPT DPO NJMFT EF MJTUPOFT RVF DBTJ DVCSFO MBT FTQBMEBT Z TV CBJMF MP BDPNQBÁB MB NÈTJDB TVBWF S½UNJDB Z TPTFHBEB EF VOB QF RVFÁB PSRVFTUB EF DVFSEBT TV DPOUJOHFOUF FT OVNFSPTP WJFOFO EF .JDIPBD²O " MBT PDIP EF MB NBÁBOB FM $FOUSP DJUBEJ OP RVF OP IB EPSNJEP TF IBMMB TPMJUBSJP Z TJMFO DJPTP DPNP QPDBT WFDFT FO FM BÁP UPEB MB WJUB MJEBE FM CVMMJDJP FM EJOBNJTNP Z MB FOFSH½B EF MB DJVEBE IB TJEP BUSB½EP Z FODBVTBEP IBDJB FTF QPMP EFM FTQ½SJUV UBQBU½P RVF TF MMBNB ;BQPQBO BSNBOEP HPO!VOJWB NY


%PNJOHP EF PDUVCSF EF

1~(*/" #

&- */'03."%03 &41&$*"-

3FGMFYJPOFT 40#3& -"

$POTUJUVDJ¯O &O FM *5&40 MPT BDBE NJDPT SFQFOTBS O FM QSªYJNP DFOUFOBSJP EF MB $BSUB .BHOB 130.6-("$*»/ &O MB JNBHFO 7FOVTUJBOP $BSSBO[B MVFHP EF DPOWPDBS FO EJDJFNCSF EF BM $POHSFTP QBSB QSFTFOUBS VO QSPZFDUP EF SFGPSNBT B MB $POTUJUVDJØO EF

1PS &OSJRVF &TQBS[B

"

QBSUJS EF FTUF MVOFT EF PDUVCSF Z IBT UB FM E½B EFM NJTNP NFT TF SFBMJ[BS² FM 7 &ODVFOUSP &M )VNBOJTNP Z MBT )V NBOJEBEFT FO FM *5&40 FO FM "VEJUPSJP % B MBT IPSBT " MP MBSHP EF MBT KPSOBEBT EF EJDIP FWFOUP TF BCPSEBS² FM UFNB i)B DJB FM $FOUFOBSJP EF MB $POTUJUVDJÂO 3FGMFYJPOFT IJT UÂSJDBT KVS½EJDBT TPDJBMFT Z ¹UJDBTw : FO DBEB VOB EF MBT DPOGFSFODJBT B TV U¹SNJOP TFS² DPNFOUBEB QPS BDBE¹NJDPT EF MB VOJWFSTJEBE UBM DPNP MP DVFOUB "S UVSP 3FZOPTP EJSFDUPS EFM %FQBSUBNFOUP EF 'JMPTP G½B Z )VNBOJEBEFT &M EF GFCSFSP EF TF DVNQMFO MPT BÁPT EF -B $POTUJUVDJÂO Z IBTUB MB GFDIB IB UFOJ EP N²T EF SFGPSNBT i4F USBUB RVF EFTEF FM FT QBDJP VOJWFSTJUBSJP Z EFTEF WBSJBT QFSTQFDUJWBT QPEBNPT SFGMFYJPOBS TPCSF FTUF QBDUP QPM½UJDP EF OVFTUSP QB½T Z TPCSF OVFTUSB TJUVBDJÂO IJTUÂSJDB

Ê /1, -Ê 6 , >À >Ê*> >À

ÃÊ >À` iÃÊ`iÊ >V >Ì>V Ê`iÊ +Õ «iÀ -B QFRVFÁB DJVEBE CSFUPOB EF 2VJNQFS FT MB DBCFDF SB EFM EFQBSUBNFOUP EFM 'JOJTUFSSF GSBOD¹T UJFSSB EF NBSJOPT Z FYQMPSBEPSFT EFTEF UJFNQP JONFNPSJBM $PNP FTU² B RVJODF LJMÂNFUSPT EFM NBS MPT UFNQPSB MFT B[PUBO 2VJNQFS DPO GVFS[B Z BVORVF FO JOWJFSOP SBSB WF[ FM UFSNÂNFUSP CBKB EF MPT FO WFSBOP MB NFEJB GMVDUÈB FOUSF Z UFNQFSBUVSBT SFMBUJWB NFOUF CFOJHOBT QBSB FTBT MBUJUVEFT %FTEF FM TJHMP 97* MPT WJBKFSPT EF 2VJN QFS HSBDJBT BM EFTBSSPMMP EF MB OBWFHBDJÂO PD¹BOJ DB DPOPDJFSPO FM NVOEP FOUFSP %F TVT FYQFEJDJP OFT MMFWBSPO BM UFSSVÁP BEFN²T EF NFSDBOD½BT QBSB WFOEFS Z QFSJQFDJBT RVF DPOUBS NVDIBT QMBOUBT FYÂUJDBT RVF DPO DVSJPTJEBE Z DBSJÁP MPHSBSPO RVF TPCSFWJWJFSBO TVT MBSHBT USBWFT½BT $MBSP RVF EFTEF UJFNQPT SPNBOPT Z MVF HP FO MB FEBE NFEJB TPMEBEPT NPOKFT Z DSV[BEPT IBC½BO USB½EP QPS UJFSSB EFTEF FM -FWBOUF EJTUJOUPT WFHFUBMFT MBT B[VDFOBT MPT DMBWFMFT IBTUB FM USJHP TBSSBDFOP UBNCJ¹O TF MMBNB BMGPSGÂO 1PMZHPOVN GBHPQZSVN JOEJTQFOTBCMF QBSB IBDFS MBT USBEJDJP OBMFT HBMFUUFT CSFUPOBT &TF USJHP RVF FO SFBMJEBE OP FT VO DFSFBM MMFHÂ IBDF NVDIPT TJHMPT EF $IJOB W½B FM "TJB .FOPS 1FSP FM HSBO BVHF EF MB JNQPSUB DJÂO EF QMBOUBT FNQF[Â DPO MPT OBWFHBOUFT SFOB DFOUJTUBT Z QSPOUP #SFUBÁB TF DPOWJSUJÂ DPO FM 1B ½T 7BTDP Z MB $PTUB "[VM FO VOB EF MBT USFT HSBOEFT SFHJPOFT GSBODFTBT EPOEF TF BDMJNBUBSPO FTQFDJFT MMFHBEBT EF UPEB MB SPTB EF MPT WJFOUPT &O MB BDUVBMJEBE MB QFRVFÁB 2VJNQFS RVF UJFOF DFSDB EF PDIFOUB NJM IBCJUBOUFT EJTQPOF EF VOB FOWJEJBCMF EPUBDJÂO EF IFDU²SFBT EF KBSEJOFT BCJFSUPT BM QÈCMJDP DVZP EJSFDUPS FT +FBO )VCFSU (JM TPO %FTEF MBT NVSBMMBT EF MB DJVEBE BOUJHVB TF EJWJ TBO QBMNFSBT Z NVDIBT QMBOUBT TVCUSPQJDBMFT DPNP FO VO PBTJT USBTQMBOUBEP .²T BMM² IBZ VO QFEB[P EF EFTJFSUP NFYJDBOP DPO ZVDBT BHBWFT Z T²CJMBT FOUSF MPT NVSPT EFM KBSE½O EF MB 3FUSBJUF VOP EF MPT USFT HSBO EFT QBSRVFT EF MB DJVEBE )BZ UBNCJ¹O QMBOUBT USB½EBT EF $IJMF EF "VTUSBMJB &O FM TVFMP ²DJEP EF #SFUBÁB MBT IPSUFOTJBT MPT SPEPEFOESPT Z MBT DBNFMJBT TPO ZB B UBM HSBEP QBSUF EFM QBJTBKF RVF B WFDFT TF PMWJEB RVF MMFHBSPO EF $IJOB Z EF +BQÂO (JMTPO DVFOUB MB IJTUPSJB EF "N¹E¹F 'SBO¸PJT 'S¹[JFS RVF WPMWJÂ B TV UJFSSB EFTEF 4VEB N¹SJDB B QSJODJQJPT EFM TJHMP 97*** DPO VOBT QMBO UBT EF $IJMF RVF EBCBO GSFTBT CMBODBT HSBOEFT BVORVF JOT½QJEBT Z MBT QMBOUÂ FO TV QSPQJFEBE EF 1MPVHBTUFM DFSDBOB B 2VJNQFS (SBDJBT B MB DSV[B FTQPOU²OFB EF FTBT QMBOUBT DPO MBT GSFTBT TJMWFTUSFT EFM MVHBS FYJTUFO UPEBT MBT WBSJFEBEFT EF GSFTBT RVF TF DPOPDFO IPZ FO E½B &O FM 1SJPSBUP EF -PDNBSJB RVF DVJEB EFTEF IBDF WFJOUF BÁPT Z RVF FTU² FO QMFOP DFOUSP EF MB DJV EBE +FBO )VCFSU (JMTPO SFDSFÂ VO KBSE½O NFEJFWBM EPOEF DVMUJWB VOB DPMFDDJÂO EF FTQFDJFT EF QMBO UBT DVMJOBSJBT UFYUJMFT Z NFEJDJOBMFT &M KBSEJOFSP SF DVFSEB DÂNP UPEP KBSE½O FT VOB FWPDBDJÂO EFM QBSB½ TP EJDF RVF FM IPNCSF FT FM ÈOJDP TFS WJWJFOUF RVF OP TF DPOUFOUB DPO MB OBUVSBMF[B UBM DVBM Z RVF UJFOF MB DBQBDJEBE Z MB MJCFSUBE EF SFDSFBS TV QSPQJP NVOEP TV KBSE½O RVF FT UBNCJ¹O SFGMFKP EF TV TFS QSPGVOEP IUUQ XXX MFGJHBSP GS KBSEJO "35'*( CBMBEF FODIBOUFF EBOT MFT KBSEJOT E FEFO EF RVJNQFS QIQ

OP TPMBNFOUF MB QBTBEB UBNCJ¹O MB BDUVBMw DPN QBSUF 3FZOPTP &M MVOFT TF UFOES² VOB DPOGFSFODJB DPO MB EPDUPSB (VBEBMVQF +JN¹OF[ RVJFO IBCMBS² EFM TF MMP EF MB JOGMVFODJB EF MPT DPOUFYUPT IJTUÂSJDPT FO MBT DPOTUJUVDJPOFT EF .¹YJDP EF Z EF BT½ EF FTB SFGMFYJÂO QPEFS QMBOUFBS MB SFBMJEBE BD UVBM DPO FM QBDUP QPM½UJDP EF IPZ &M DPNFOUBSJP EF FTUB DIBSMB TFS² QPS QBSUF EFM EPDUPS "MGPOTP "M GBSP &O MB UBSEF B MBT IPSBT TF UFOES² PUSP EJ²MPHP DPO (VBEBMVQF Z DPO BDBE¹NJDPT VOJWFS TJUBSJPT EF JOTUJUVDJPOFT QÈCMJDBT Z QSJWBEBT -VFHP FM NBSUFT MB TJHVJFOUF DPOGFSFODJB TFS² DPO 3BGBFM &TUSBEB EFM *OTUJUVUP /BDJPOBM EF $JFO DJBT 1FOBMFT M BDBCB EF DPODMVJS TV HFTUJÂO DPNP EJSFDUPS EF FTUF JOTUJUVUP Z IBCMBS² TPCSF MPT GVOEB NFOUPT IJTUÂSJDPT Z KVS½EJDPT EF MB $POTUJUVDJÂO .F YJDBOB &M DPNFOUBSJTUB TFS² "MGPOTP )FSO²OEF[ EJ SFDUPS EFM EFQBSUBNFOUP EF &TUVEJPT 4PDJPQPM½UJDPT Z +VS½EJDPT EFM *5&40 5BNCJ¹O B MBT IPSBT TF

EJBMPHBS² DPO BDBE¹NJDPT &M NJ¹SDPMFT FTUBS² MB WJTJUB EFM EPDUPS .BUUIFX & $BSOFT EJSFDUPS EFM $FOUSP EF &TUV EJPT -BUJOPBNFSJDBOPT EF MB 6OJWFSTJEBE EF (FPSHFUPXO FO 8BTIJOHUPO M FYQPOES² FM UFNB EF MBT QPM½UJDBT EF CJFOFTUBS EF TFDUPSFT WVMOFSB CMFT Z MBT DPOTUJUVDJPOFT QPM½UJDBT TV DPNFOUBSJT UB TFS² +PSHF /BSSP EFM %FQBSUBNFOUP EF 'PSNB DJÂO )VNBOB EFM *5&40 &M KVFWFT FTUBS² MB WJTJÂO FVSPQFB B USBW¹T EF 'SBODJB DPO MB QBSUJDJQBDJÂO EF 'SBO¸PJT #P»EFD QSFTJEFOUF EFM $FOUSP 4¼WSFT 'BDVMUBEFT +FTVJ UBT EF 1BS½T )BCMBS² TPCSF VOB DPOTUJUVDJÂO QP M½UJDB BM TFSWJDJP EF VO DPOUSBUP TPDJBM UPNBOEP DPNP FKF MB TJUVBDJÂO GSBODFTB Z IBDJFOEP SFGF SFODJB B MB TJUVBDJÂO NFYJDBOB &M DPNFOUBSJTUB TFS² )¹DUPS (BS[B EFM EFQBSUBNFOUP EF 'JMPTPG½B Z )VNBOJEBEFT EFM *5&40 'JOBMNFOUF FM WJFSOFT FTUBS² &EVBSEP 3P ES½HVF[ 7FMU[¹ FYQSFTJEFOUF Z FNCBKBEPS QMFOJ QPUFODJBSJP EFM &TUBEP 1MVSJOBDJPOBM EF #PMJWJB FO )PMBOEB M IBCMBS² EF MB FYQFSJFODJB EF VOB

, -Ê Ê6 6 , , Ã>Ê ÌiÀ %F VO TPMP QSJODJQJP RV½NJDP EFOUSP EFM FOPSNF QVDIFSP EF JOHSF EJFOUFT RVF TPNPT MPT NBN½GFSPT QVFEF EFSJWBS FO BMUFSBDJPOFT G½TJDBT Z QT½RVJDBT SBEJDBMFT &M QFOTBNJFOUP UBNCJ¹O FTU² TVKFUP B NPEBT QPS TVQVFTUP %F QSPOUP JNQFSB VOB NBOFSB EF FOUFOEFS FM NVOEP Z QPDP EFTQV¹T USJVOGB PUSB NJSBEB 1PS FKFNQMP FO NJ KVWFOUVE MPT JOUFMFDUVBMFT EF QSP EFGFOE½BO WJHPSPTBNFOUF MB JOGMVFODJB EF MB TPDJFEBE TPCSF FM JOEJWJEVP &O MB WJF KB QPM¹NJDB TPCSF RV¹ JNQPSUB N²T MB IFSFODJB HFO¹UJDB P FM BNCJFO UF FM ÈMUJNP HBOBCB QPS HPMFBEB DSF½BNPT TFS MP RVF OVFTUSBT DPOEJ DJPOFT TPDJBMFT OPT IBD½BO VOB WJTJÂO NBSDBEB QPS FM NBSYJTNP Z QPS FM QTJDPBO²MJTJT :P DSFD½ DPO FTB DPOWJDDJÂO Z MB SFQFU½B UPOUBNFOUF DP NP VO MPSJUP QPSRVF MBT QFSTPOBT RVF QPS FOUPODFT NF QBSFD½BO TBCJBT QFOTBCBO UPEBT BT½ &O VOBT DVBOUBT E¹DBEBT FO DBNCJP OPT IFNPT JEP UPEPT BM FYUSF NP DPOUSBSJP "IPSB JNQFSB FM CJPMPHJTNP N²T SBEJDBM DPNP TJ UPEP MP RVF TPNPT QVEJFSB TFS SFEVDJEP B VOB EFUFSNJOBEB EPUBDJÂO HFO¹UJDB Z B VOB TPQB EF IPSNPOBT Z OFVSPUSBOTNJTPSFT )B TJEP VO DPSSJNJFO UP NFOUBM CBTUBOUF DPNQSFOTJCMF QPS PUSB QBSUF QPSRVF MPT ÈMUJNPT BÁPT IFNPT WJWJEP VOB FYQMPTJÂO EF NBSBWJMMBT UFDOPMÂHJDBT RVF OPT IB QSFEJTQVFTUP B JEPMBUSBS MB DJFODJB 4VDFEJÂ MP NJTNP DPO MB SFWPMV DJÂO JOEVTUSJBM EFM TJHMP 9*9 MPT BWBODFT GVFSPO UBOUPT Z UBO S²QJEPT RVF MB HFOUF TF TJOUJÂ QPDP NFOPT RVF EJWJOB )VCP DJFOU½GJDPT RVF QSP OPTUJDBSPO RVF FO NFEJP TJHMP IBCS½BNPT EFTDVCJFSUP UPEPT MPT TFDSF UPT EFM VOJWFSTP Z PUSPT TF QVTJFSPO B HBMWBOJ[BS GJEFPT DPO DPSSJFOUFT FM¹DUSJDBT TFHVSPT EF RVF QPES½BO DSFBS WJEB &M NJUP EFM NPOTUSVP EF 'SBOLFOTUFJO OP OBDJÂ QPS DBTVBMJEBE FO BRVFMMB ¹QPDB 1VFT CJFO BIP SB USBT MB SFWPMVDJÂO NJDSPFMFDUSÂOJDB FTUBNPT FYQFSJNFOUBOEP PUSB PMB EF FOUVTJBTNP TFNFKBOUF :P NF EJHP DPO DJFSUP FTDFQUJDJTNP BOUF MPT WBJWFOFT EFM NVOEP RVF QSPCBCMFNFOUF MB WFSEBE TF FODVFOUSF FOUSF BNCPT FYUSFNPT 2VF IFSFODJB Z BNCJFOUF JOGMVZFO QPS JHVBM &T VOB EFDJTJÂO TBMPNÂOJDB RVF TVFOB TFOTBUB QFSP MP DJFSUP FT RVF DBEB E½B TF EFTDVCSFO OVFWBT DP TBT RVF BCPOBO MB GJFCSF CJPMPHJTUB 1PS FKFNQMP NF IB EFKBEP QBUJEJ GVTB MB OPUJDJB EF RVF FO MB SFTFSWB EF .PSFNJ #PUTVBOB IBO BQBSFDJ EP DJODP MFPOBT B MBT RVF MFT IB DSFDJEP VOB IFSNPTB NFMFOB Z RVF IBO FNQF[BEP B DPNQPSUBSTF DPNP MFPOFT )F WJTUP MBT GPUPT TPO JHVBMFT B MPT NBDIPT 6O HSVQP EF DJFOU½GJDPT EF MB 6OJWFSTJEBE EF 4VTTFY 3FJ OP 6OJEP BDBCB EF TBDBS VO FTUVEJP TPCSF FMMBT /BSDPUJ[BSPO DPO EBS EPT B VO FKFNQMBS Z DPNQSPCBSPO RVF HFOJUBMNFOUF FSB VOB IFNCSB OPSNBM : TJO FNCBSHP JOUFOUBCB NPOUBS B PUSBT IFNCSBT NBSDBCB FM UFSSJUPSJP Z SVH½B DPNP VO MFÂO $PODMVZFSPO RVF FSB VOB BOPNBM½B HF O¹UJDB Z RVF MPT DBNCJPT TF EFC½BO QSPCBCMFNFOUF B VO BVNFOUP JOV TVBM EF MB UFTUPTUFSPOB 0 TFB RVF VOB EPTJT BMHP NBZPS EF VOB NBMEJ UB IPSNPOB FTUP FT EF VO TPMP QSJODJQJP RV½NJDP EFOUSP EFM FOPSNF QVDIFSP EF JOHSFEJFOUFT RVF TPNPT MPT NBN½GFSPT QVFEF EFSJWBS FO BMUFSBDJPOFT G½TJDBT Z QT½RVJDBT SBEJDBMFT &TUF BTVOUP EF MBT MFPOBT MMVFWF FO N½ TPCSF NPKBEP )BDF BMHVOBT TFNBOBT WJ FO *OUFSOFU VO W½EFP EF OVFWF NJOVUPT EF VO KPWFO USBOTF YVBM "ZEJBO %PXMJOH DPO JN²HFOFT UPNBEBT B MP MBSHP EF DVBUSP BÁPT &M DIJDP OBDJEP NVKFS RVJTP BDSFEJUBS BT½ TV FWPMVDJÂO G½TJDB EFTEF FM

DPOTUJUVZFOUF DPOUFNQPS²OFB FO OVFTUSP DPOUJ OFOUF &M DPNFOUBSJTUB TFS² +FTÈT *CBSSB EFM EF QBSUBNFOUP EF &TUVEJPT 4PDJPQPM½UJDPT Z +VS½EJ DPT EF MB 6OJWFSTJEBE i&T VOB NVZ CVFOB PQPSUVOJEBE QBSB MBT DP NVOJEBEFT BDBE¹NJDBT EF PUSBT JOTUJUVDJPOFT EF FEVDBDJÂO TVQFSJPS FM QPEFS SFGMFYJPOBS TPCSF FT UF QBDUP RVF ZB DVNQMF BÁPT Z RVF IB TJEP NVZ SFGPSNBEP Z DBNCJBEPw DPNQBSUF 3FZOPTP RVJFO UBNCJ¹O IBCMB TPCSF TV WJTJÂO BDFSDB EF MB $POTUJUVDJÂO i'VF QSJNFSP VO QBDUP RVF FO FM NPNFOUP FO FM RVF TF FTUBCMFDF FO JOUFOUB SFDPODJMJBS QPTJ DJPOFT BQBSFOUFNFOUF JSSFDPODJMJBCMFT FT DPNP FM HSBO N¹SJUP EF FTF QBDUP QFSP OP IBZ QBDUPT QFSGFD UPT OJ UPUBMNFOUF TBUJTGBDUPSJPT QBSB UPEBT MBT DP SSJFOUFT EF QFOTBNJFOUP FO VOB OBDJÂO $PO FM QB TP EF MPT BÁPT TF IBO UFOJEP FONJFOEBT Z BSSFHMPT MB DVFTUJÂO FT IPZ RVF B TVT BÁPT DV²M FT MB SFB MJEBE EF .¹YJDP FO FM NVEPw -B FOUSBEB QBSB UPEBT MBT DPOGFSFODJBT FT UP UBMNFOUF HSBUVJUB

i iÃÊÞÊ i >Ã NPNFOUP FO RVF FNQF[Â B IPSNPOBSTF DPO UFTUPTUFSPOB -B USBOTGPSNB DJÂO FT BMVDJOBOUF OP TÂMP MF FOHSPTBO MBT DFKBT Z FNQJF[B B BQBSFDFSMF CBSCB TJOP RVF TF EJS½B RVF IBTUB NVEB MB GPSNB EF MB DBSB 1BSFDF RVF TF MF SPCVTUFDF MB NBOE½CVMB QPS FKFNQMP 4V SPTUSP QJFSEF TVBWJEBE Z TF IB DF N²T BOHVMPTP 1PS OP IBCMBS EF MB WP[ EFM DVFMMP EF MPT IPNCSPT : UP EP FTP TVDFEF FO UBO TÂMP VOPT QPDPT BÁPT Z FTU² DBVTBEP QPS VO MJHFS½TJ NP DBNCJP FO MB DPNQPTJDJÂO RV½NJDB EF TV PSHBOJTNP 5BM WF[ FTUFNPT N²T DFSDB EF MB IFSFODJB RVF EFM BNCJFOUF EFTQV¹T EF UPEP Z FTP FT JORVJFUBOUF QPSRVF DVBOUP N²T OPT BQSPYJNBNPT B MB CJPMPH½B NFOPT EFTUJOP JOEJWJEVBM QBSFDF FYJTUJS NFOPT MJCSF BMCFES½P 1FSP FTUP UBNCJ¹O UJFOF TV QBSUF CVFOB 1FOTFNPT FO UPEBT FTBT MFZFT SF MJHJPOFT Z GJMPTPG½BT RVF IBO OBDJEP Z FOHPSEBEP EF MB EJWJTJÂO EJTDSJNJ OBUPSJB EFM NVOEP FOUSF NVKFSFT Z IPNCSFT /P NF EJHBO RVF OP TFS½B HF OJBM QPOFSMF VO GSBTDP EF UFTUPTUFSPOB FO MB NBOP B VO UBMJC²O Z EFDJSMF RVF UPEB TV TVQVFTUB TVQFSJPSJEBE OP FT N²T RVF FTP Ï 304" .0/5&30 &%*$*0/&4 &- 1"¡4 4- 5PEPT MPT EFSFDIPT SFTFSWBEPT


1~(*/" #

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

%PNJOHP EF PDUVCSF EF

&45"4 36*/"4 "/50/*0 0356ยบ0

ย YPEP "3$)*70 t &- */'03."%03

103 05304 "*3&4 $VBOEP MB [POB DFSDBOB B DBTB TF IB USBOTGPSNBEP FO VO CVMMJDJP FT UJFNQP EF CVTDBS MB USBORVJMJEBE

&

TUPZ QPS NVEBSNF EF EPNJDJMJP 4JHP DPNP VO QBUP BOUFT EFM JOWJFSOP VOB DPSSJFOUF NJHSBUPSJB RVF JOJDJร IBDF VOBT TFNBOBT NJ BNJHP "OESยนT RVJFO GVF FM QSJNFSP FO MFWBOUBS FM WVFMP EFM DยนOUSJDP CBSSJP FO FM RVF WB SJPT DVBUFT IFNPT DPJODJEJEP EVSBOUF MPT Bร PT SF DJFOUFT ย EHBS TF GVF BOUFT QFSP QPS NPUJWPT EF USB CBKP Z B VO MVHBS UBO DPNQMJDBEP DPNP FM FY %' QPS MP RVF TV TJUVBDJร O FT PUSB 4ยน RVF PUSPT TFHVJSยฒO OVFTUSP FKFNQMP FO FM DPSUP QMB[P "Tยฝ MP RVF GVF VOB DPNVOJEBE SFVOJEB FO VO SBEJP EF EJF[ DBMMFT QBTBSยฒ B TFS VOB DPO FTUBDJPOFT DPNP MBT EFM 5SFO -JHFSP B LJMร NFUSPT EF EJTUBODJB VOBT EF PUSBT -MF HP BIPSB B MP GVOEBNFOUBM {1PS RVยน OPT WBNPT 1VFT QPSRVF MB HFOUSJGJDBDJร O OP FT TPMBNFOUF MB QBMBCSB NยฒT GFB EFM JEJPNB QFSJPEยฝTUJDP Z BDBEยน NJDP BDUVBM TJOP VOB SFBMJEBE CBTUBOUF NPMFTUB 5FOFS FM EPNJDJMJP SPEFBEP EF CBSFT UBQBT NJDIF MBEBT QVFSUPT DJDMJTUBT PGJDJOBT DSFBUJWBT Z CVF OBPOEB DPODJFSUPT HSBUVJUPT BM BJSF MJCSF EFTGJMFT EF UPEB DMBTF FUDยนUFSB TVFOB DFMFTUJBM Z Tร QFS IBT UB RVF UF TVDFEF B UJ i.F FODBOUB UV CBSSJP QPSRVF IBZ UBOUB DPTB RVF TF TJFOUF VOP FO /VFWB :PSLw NF EJKP IBDF QPDP VO DPOPDJEP RVF OP UJFOF VO HSBO TFOUJEP EF MB QSPQPSDJร O -P RVF PMWJEBCB FT RVF MPT CBSFT MBT UBQBT Z MBT NJDIFMBEBT JHOPSBO MPT SFHMB NFOUPT TPCSF EFDJCFMFT EF SVJEP Z RVF TVT DMJFOUFT QJFOTBO RVF DBEB NFUSP DVBESBEP EF DBMMF MFT QFS UFOFDF QPS EFSFDIP DPNP FTUBDJPOBNJFOUP BTยฝ CMPRVFFO DPDIFSBT P TF MMFWFO QPS EFMBOUF FM BSCP MJUP BM RVF VOP OFDJBNFOUF TF FNQFร B FO DPOTFS WBS 6O DBTP TJNJMBS FT FM EF MBT PGJDJOBT DSFBUJWBT Z CVFOBPOEB EF MBT RVF TJFNQSF IBZ VO QFSSP JO NFOTP DPNP DBCBMMP Z TJO DPSSFB QPSRVF TV BMNB FT MJCSF RVF TBMUB DPNP MPCP IBNCSJFOUP EF TBOHSF

QBSB QFSTFHVJSMP B VOP RVF PTB QBTBS QPS BMMยฝ DPO TV QFSSJUP CJFO FOKBF[BEP MVFHP DMBSP FTBT BMNBT MJCSFT BOEBO FO DBSUFMFT i&TUPZ QFSEJEP BZร EBNF B WPMWFS B DBTBw 4F MF PMWJEB RVF MPT GFTUJWBMFT BM BJSF MJCSF TPO VOB NBSBWJMMB FO DVBOUP B QPMยฝUJDB DVM UVSBM Z TPDJBM QFSP UBNCJยนO TPO VO GBSP EF BUSBD DJร O QBSB UPEPT BRVFMMPT RVF RVJFSFO CFCFS FO MB DBMMF TJO DPSUBQJTBT Z RVF DPNP TPO MJCSFT Z GFMJDFT IBO EFDJEJEP RVF FM NVOEP FOUFSP FT TV NJOHJUPSJP FTP JODMVZF DMBSP FM NVSP EF MB DBTB EF VOP Z FM QJF EF MPT OFVNยฒUJDPT EF TV BVUPNร WJM -PT QVFS UPT DJDMJTUBT BM NFOPT UPEBWยฝB OP IBO EBEP OJOHV OB DMBTF EF QSPCMFNB 6O BNJHP RVF DPOWFOJFOUFNFOUF WJWF FO &V SPQB NF SFHBร B DBEB WF[ RVF FYQPOHP FTUBT RVF KBT RVF ยนM MMBNB iEF DPMPOPw Z Bร O OP Tยน TJ FO FM GPOEP FTP RVJFSF EFDJS iEF DPMPOJ[BEPw $MBSP FO TV RVFSJEB Z NBSBWJMMPTB #FSMยฝO IBZ VOPT QPMJDยฝBT BSNBEPT DPNP 3PCPDPQT RVF DBFO FODJNB EF RVJFO EFDJEF RVF VO CBS TF DPOWJFSUB FO VOB CPDJ OB BUSPOBEPSB FO MB NBESVHBEB Z MF RVJUBO MB FMFD USJDJEBE "RVยฝ MBT BVUPSJEBEFT TVFMFO SFยฝSTF EF RVJFO TF RVFKB EF DPTBT BTยฝ i/P WF Dร NP FTUBNPT Z VTUFE TF RVFKB EFM SVJEPw NF EJKP VO QPMJDยฝB IBDF UJFNQP : MB TPMVDJร O RVF PGSFDFO MPT BQPMPHJTUBT EFM DBPT DPNP NJ BNJHP CFSMJOยนT FT TJNQMF Z DSVFM i4J OP UF HVTUB Nร EBUFw 1VFT FTP .VEBSTF 2VJ[ยฒ TFB MB WFKF[ RVF MP BNBSHB B VOP 2VJ[ยฒ MPT Bร PT MP DPOWJFSUFO FO FTF WFDJOP RVF QPODIBCB MB QFMPUB EF MPT FTDVJODMFT RVF MB QBUFBCBO B TV DBTB Z SPNQยฝBO VO WJESJP *STF B VO CBSSJP USBORVJMP DPO QMBOFT QBSDJBMFT RVF OP QFS NJUFO NยฒT RVF FM VTP IBCJUBDJPOBM FT VO QPDP DP NP KVCJMBSTF -P FOUJFOEP 1FSP DVBOEP EVFSNB BM GJO TJO BSSBODPOFT EF BVUP OJ MB .FHB #BOEB %JOP QMBUยฝWPMP B UPEP WPMVNFO NF JNQPSUBSยฒ NVZ QPDP


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.