Tapatío 28 de mayo de 2017

Page 1

'6/%"%03&4 +FTยทT ~MWBSF[ EFM $BTUJMMP 7 +PSHF ~MWBSF[

EFM $BTUJMMP ;

-" %*4&ยบ"%03" 304"3*0 .&/%0;" $0.1"35& 46 ".03 103 -"4 13&/%"4 #03%"%"4 -"#03 26& -" )" )&$)0 ("/"3 %*7&3404 13&.*04 */5&3/"$*0/"-&4 : 26& *.16-4" " .ยซ4 .6+&3&4 %&/530 %& -" .0%" .&9*$"/" 1ร HJOB EPT &- */'03."%03 t . 7"3("4

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

"ยบ0 $ /ร .&30

?Q=@ANJK @A HA?PQN=

#

4&$$*ย /

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

-ร ยซiร ร ย ร ย ร \ร >ร ย ย ร >ร ร ย ย ย ย ร ย >ร ย ย ยฐV>ร ร ย ย ย ย Jย ย vย ร ย >`ย ร ยฐVย ย ยฐย ร $035&4ยถ"

4FS VO BHFOUF EF DBNCJP &M UBQBUยคP %JFHP 7BSHBT B TVT BยจPT QBSUJDJQB FO VO BUSBDUJWP FTRVFNB JNQVMTBEP QPS .57 -" Z MB 0/6 EPOEF MB QSPQVFTUB Nย YJNB FT MB JODMVTJยชO Z CFOFGJDJP QBSB QFSTPOBT SFGVHJBEBT

1PS &OSJRVF &TQBS[B

-

B UFMFWJTJร O OP Tร MP DVNQMF DPO MB GVODJร O EF FOUSFUFOFS UBNCJยนO GPSNB VO WยฝODVMP EJSFDUP DPO MB JONFEJBUF[ QBSB EFTBSSPMMBS JEFBT P QSP HSBNBT B CFOFGJDJP EF MBT TPDJFEBEFT DPOWVM TJPOBEBT QPS EJTUJOUBT QSPCMFNยฒUJDBT DPNP MB WJPMFODJB MB QPCSF[B Z FO MPT ร MUJNPT Bร PT FM EFTQMB[BNJFOUP FT FM DBTP EF MB SFHJร O EF $FO USPBNยนSJDB EPOEF B EJBSJP EFDFOBT EF NJHSBO UFT EFDJEFO JSTF EF TVT QBยฝTFT QBSB CVTDBS VO GVUVSP NFKPS $POTDJFOUFT EF FMMP FT RVF MB DBEFOB .57 -BUJOPBNยนSJDB MBO[ร MB DPOWPDBUPSJB i"HFOUFT EF DBNCJPw FO DPMBCPSBDJร O DPO -B "HFO DJB EF MB 0/6 QBSB MPT 3FGVHJBEPT "$/63 Z FM Nร TJDP + #BMWJO " GJOBMFT EFM Bร P SFBMJ[BSPO VO DPODVSTP FO UPEB "NยนSJDB -BUJ OB EPOEF QBSUJDJQBOUFT EF EJTUJOUPT QVOUPT IJDJFSBO QSPQVFTUBT FO CFOFGJDJP EF MPT SFGVHJBEPT RVF GVFSBO JODMVZFOUFT Z EF GยฒDJM BDDFTP QBSB FMMPT &M HBOBEPS EF FTUB DBNQBร B JOUFSOBDJPOBM SFTVMUร TFS FM UBQBUยฝP %JFHP 7BSHBT EF Bร PT FTUVEJBOUF EF MB DBSSFSB EF /VUSJDJร O ย RVJOUP TFNFTUSFย EF MB 6OJWFSTJEBE EF (VBEBMBKBSB i'VF UPEP VO TIPDL EF FNPDJPOFT EF HBOBT EF TFHVJS IBDJFOEP DPTBT CFOยนGJDBT QBSB MBT QPCMBDJPOFT WVMOFSBCMFTw DPNQBSUF FM KPWFO RVJFO HBOร HSBDJBT B TV JEFB EF QSPQPOFS B MPT SFGVHJBEPT Z TVT GBNJMJBT VOB EJF UB CBMBODFBEB DPO CBKP QSFTVQVFTUP QVFT MB NBZPSยฝB EF MPT JONJHSBO UFT WJWFO BM EยฝB Z DPO NVZ QPDP EJOFSP i:P OP CVTDBCB MB PQPSUVOJEBE EF NFUFSNF B OJOHร O DPODVSTP EF IFDIP FTUBCB WJFOEP FM SFBMJUZ EF A"DBQVMDP 4IPSF Z FO VO BOVO DJP EF + #BMWJO BWJTBOEP EF MB DBNQBร B NF JOUFSFTยน 4JFNQSF NF IB HVTUBEP BZVEBS B MBT QPCMBDJPOFT WVMOFSBCMFT SFBMNFOUF OP TBCFT FO RVยน DPOEJDJPOFT WJWFO QFSP FMMPT TJFNQSF USBUBO EF TBMJS BEFMBO UF $IFRVยน MB DPOWPDBUPSJB UยนSNJOPT Z DPOEJDJPOFT WJ RVF EFDยฝB RVF QPEยฝB IBDFS VO WJEFP EยฝBT BOUFT EF WFS MB DBNQBร B ZP ZB IBCยฝB IF

DIP VOP FO MB FTDVFMB Z MFT HVTUร NVDIP VUJMJDยน MB NJTNB UยฒDUJDB QB SB FOUSBS BM DPODVSTP RVJTF JOWFTUJHBS TPCSF TJ "$/63 DPOUBCB DPO FTQFDJBMJTUBT FO OVUSJDJร O BM QBSFDFS OP Z QVTF NJT DPOPDJNJFOUPT FO QSยฒDUJDBw 1BSB MPT DPODVSTBOUFT UBNCJยนO FTUBCB MB QPTJCJMJEBE EF IBDFS VO FOTBZP P QSFTFOUBS VOB JNBHFO QMBTNBOEP MB JEFB DFOUSBM TJO FN CBSHP %JFHP FODPOUSร MB NFKPS DPNVOJDBDJร O FO WJEFP i1MBTNยน VOB JEFB NยฝB RVF EF BMHVOB NBOFSB QVEJFSB BZVEBS B SFGVHJBEPT EF (VB UFNBMB )POEVSBT Z &M 4BMWBEPS RVF MMFHBO B .ยนYJDP -B QSPQVFTUB FT MB FEVDBDJร O OVUSJDJPOBM NF EJ DVFOUB RVF OP IBCยฝB VOB BUFODJร O TPCSF MB OVUSJDJร O FO MPT SFGVHJPT Z MPT BMCFSHVFTw i"EFNยฒT FMMPT OP DVFOUBO DPO FTF DPOPDJNJFOUP TPCSF MPT BMJ NFOUPT RVF QVFEFO DPOTVNJS QBSB UFOFS VO NFKPS BQSPWFDIBNJFO UP &MMPT UJFOFO IBTUB DJODP P QFTPT Z MPT VUJMJ[BO QBSB USBOTQPSUBS TF P IJESBUBSTF &OUPODFT B WFDFT MF EBO QPDB JNQPSUBODJB BM BMJNFOUP 6O CPUF EF GSJKPMFT DPO UPSUJMMBT QBSB OPTPUSPT QVFEF TFS TJNQMF QFSP SFBMNFOUF IBZ NVDIP BQPSUF RVF FMMPT QVFEFO BQSPWF DIBS Z OP FT DBSPw %JFHP UBNCJยนO CVTDร DPO TV JEFB QSPNPWFS MB BDUJWJEBE GยฝTJDB Z RVF MPT NJTNPT NJFNCSPT EF MB DPNVOJEBE QBSUJDJQBSBO QBSB RVF OP TF TJOUJFSBO FYDMVJEPT iRVF MPT NJTNPT WFDJOPT EF MB [POB MPT IBHBO TFOUJSTF DPNP FO DBTB DPO UPEBT MBT IJTUPSJBT RVF DBSHBO FMMPT OF DFTJUBO ยฒOJNPT QBSB TFHVJS BEFMBOUF DPO TVT WJEBTw )J[P UBNCJยนO VO QFRVFร P SFDFUBSJP QFOTBOEP FO BMJNFOUPT RVF TF QVFEFO BERVJSJS B NVZ CBKP DPTUP Z QFOTBOEP FO MPT OJร PT ย MPT IJKPT EF MPT SFGVHJBEPTย i/P TBCFNPT TJ EF SFQFOUF TF RVFEBO FO .ยนYJDP P WBO FO CVTDB EF PUSPT MVHBSFT MP RVF Tยฝ FT WFSEBE FT RVF MB PCFTJEBE FTUยฒ EPNJOBOEP FM NVOEP KVOUP DPO MB EJBCFUFT Z TJ B MPT OJร PT MF FOTFร BNPT CVFOPT IยฒCJUPT KVHBOEP RVF FT DPNP FMMPT BQSFOEFO QPEFNPT HFOFSBS VO CJFO QBSB UPEP FM QBยฝTw $PNP QBSUF EFM QSFNJP %JFHP ZB WJBKร B 5BCBTDP Z TF SFVOJร DPO FODBSHBEPT EF BMCFSHVFT ย DPNP i&M $PMJCSยฝwย Z SFGVHJBEPT QSJODJ QBMNFOUF EF $FOUSPBNยนSJDB QBSB EBS B DPOPDFS TV QSPZFDUP 5JFOF UPEP FM BQPZP EF .57 Z FTQFSB TFHVJS HFOFSBOEP WยฝODVMPT DPO "$ /63 Z MPT JOWPMVDSBEPT QBSB RVF FTUP OP Tร MP TF RVFEF DPNP QBSUF

4"#&3 .ยซ4 4VNB EF WPMVOUBEFT + #BMWJO FT VOB EF MBT Nร YJNBT FTUSFMMBT EF MB Nร TJDB QFSP UBNCJร O FT VO QSPNPUPS EF DBVTBT TPDJBMFT DVFOUB DPO VOB GVOEBDJร O RVF TF MMBNB i-B 'BNJMJBw EPOEF IBZ EJTUJOUPT QSPHSBNBT EF BQPZP FOGPDBEPT B MPT OJร PT RVF UJFOFO FO GFSNFEBEFT DPNP FM Dร ODFS &O UBOUP "$/63 TJHVF TJFOEP GBDUPS EF DBNCJP QBSB TFOTJCJMJ[BS B MBT TPDJFEBE TPCSF MB QSPCMFNร UJDB EF MPT EFTQMB[BEPT &OUSF Z .ร YJ DP IB UFOJEP VO BVNFOUP EF TPMJDJUVEFT EF BTJMP EF MB NBZPSร B EF &M 4BMWBEPS )POEVSBT Z (VBUFNBMB

EF VO QSPZFDUP UFMFWJTJWP FO QSP EF MPT SFGVHJBEPT i4J NF HVTUBSยฝB RVF TJHVJFSB MB JEFB OP IF UFOJEP UPEBWยฝB MB PQPSUVOJEBE EF QMBUJDBS CJFO DPO FMMPT QFSP EFTEF VO QSJODJQJP RVFEร TV BQPZP DMBSP :P UBN CJยนO IF IBCMBEP BRVยฝ DPO HFOUF EF MB 6OJWFSTJEBE DPO FM SFDUPS EFM $65POBMยฒ Z MPT QSPGFTPSFT FMMPT UBNCJยนO QVFEFO EBSNF BQPZPw

+ยฐWFOFT IBDJFOEP FM DBNCJP %JFHP IB FTUBEP NVZ BQPZBEP QPS TV GBNJMJB FT FM TFHVOEP EF USFT IFSNBOPT Z TJFNQSF IB UFOJEP FM EFTFP EF BZVEBS BM QSร KJNP DSFF RVF MPT Kร WFOFT FO HFOFSBM EFCFSยฝBO QSFPDVQBSTF QPS RVJFOFT FTUยฒO FO TV FOUPSOP i)PZ FO EยฝB MPT Kร WFOFT DPNP RVF TPO DPOGPSNJTUBT RVJFSFO JS B MB FTDVFMB Z PCUFOFS TV UยฝUVMP QFSP OP WFO NยฒT BMMยฒ EF TVT DBQBDJEBEFT FTP FSB MP RVF B Nยฝ NF QBTBCB QFSP SFBMNFOUF TF QVF EF OP TPZ FM NยฒT FTUVEJPTP P FM NยฒT GMPKP QFSP TJ UF MP QSPQPOFT Z RVJFSFT MPHSBS DPTBT MP WBT B MPHSBS OP EF VO EยฝB QBSB PUSP QFSP WB B TVDFEFSw %FTQVยนT EF UFSNJOBS TV DBSSFSB %JFHP RVJFSF WJBKBS B &V SPQB Z FTQFDJBMJ[BSTF FO /VUSJDJร O $PNVOJUBSJB RVF OP MF HVTUBCB EF QSJODJQJP IBTUB BIPSB RVF TF JOWPMVDSร EF MMFOP B SBยฝ[ EF FTUB DPO WPDBUPSJB


1~(*/" #

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

%PNJOHP EF NBZP EF

1PS /PSNB (VUJยนSSF[

'0504 &- */'03."%03 t . 7"3("4

&

M USBCBKP EF 3PTBSJP .FOEP[B OP TPMP IB MMFHBEP B MBT QBTBSFMBT EF NBZPS QSFTUJHJP JOUFSOBDJPOBM " USBWยนT EF TV GJSNB 5BLBTBNJ IB TVNBEP HBMBSEP OFT ร OJDPT FO MB IJTUPSJB EF .ยนYJDP HSBDJBT BM SFTDBUF EF MPT CPSEBEPT USBEJDJPOBMFT Z NBUFSJBMFT DPNP MB NBOUB 3FDJยนO IB TJEP SFDPOPDJEB QPS MB PSHBOJ[BDJร O 8PNFO 5PHFUIFS FO BMJBO[B DPO MB 0SHBOJ[BDJร O EF MBT /BDJPOFT 6OJEBT 0/6 Z MB 6OJDFG QFSP FO TV USBZFDUPSJB QSFNJPT DPNP FM &NNZ ZB IBCยฝBO QVFTUP EF NBOJGJFTUP FM DPNQSPNJTP EF 3PTBSJP .FOEP[B QPS JNQVMTBS B MBT NVKFSFT EFTEF MP MBCP SBM EF QFMFBS QPSRVF FM USBCBKP BSUFTBOBM EF MBT DP NVOJEBEFT JOEยฝHFOBT TFB WBMPSBEP QBUSJร UJDB Z FDP Oร NJDBNFOUF &M SFDPOPDJNJFOUP RVF MB 0/6 IB IFDIP B 3P TBSJP .FOEP[B OP FT DVBMRVJFS HBMBSEร O GJHVSBT DPNP .BMBMB )JMBSZ $MJOUPO 4IBLJSB P "OHFMJOB +PMJF IBO TJEP IPNFOBKFBEBT DPO FTUF EJTUJOUJWP RVF BQMBVEF MB MBCPS IVNBOJUBSJB Z FO FTUF DBTP EFTEF MB USJODIFSB EF MB NPEB MB GJSNB 5BLBTBNJ GJ HVSB DPNP VO FKFNQMP EFM FNQSFOEVSJTNP MBCPSBM FO MBT NVKFSFT RVF DBEB WF[ BERVJFSF NยฒT GVFS[B FO .ยนYJDP Z "NยนSJDB -BUJOB 4J BMHP DBSBDUFSJ[B B 3PTBSJP .FOEP[B DPNP EJTFร BEPSB EF NPEBT FT TV DBSยฒDUFS DPNP WJTJPOB SJB EF BUSFWFSTF B JEFBS Z QPOFS FO NBSDIB QSPZFD UPT RVF FO TV NPNFOUP QBSFDยฝBO JNQPTJCMFT EF DPO TPMJEBS DPNP MB NPEFSOJ[BDJร O EF MBT QSFOEBT JOEยฝHFOBT Z GPMDMร SJDBT B MBT UFOEFODJBT BDUVBMFT Z UPUBMNFOUF VTBCMFT FO MBT BDUJWJEBEFT DPUJEJBOBT i)F SFDPSSJEP EJGFSFOUFT FTUBEPT EFM QBยฝT EPO EF IBZ FUOJBT Z NVKFSFT RVF USBCBKBO DPO TVT NB OPT CPSEBEPT NF IF TFOUJEP BUSBยฝEB Z DPNQSPNF UJEB DPO FMMBT B USBCBKBS KVOUBT WFP FTB HSBO MBCPS RVF IBDFO Z RVF OP FT CJFO SFOVNFSBEB Z SFDPOP DJEB 4JFNQSF IF QFOTBEP FO Dร NP QVFEP JOWPMV DSBSMBT QBSB DSFBS QSFOEBT WFOEJCMFT RVF TV UBMFO UP OP TPMP RVFEF FO VOB TFSWJMMFUB RVF TVT CPSEBEPT SFBMNFOUF FTUยนO FO VOB QSFOEB DPOUFNQPSยฒOFBw

)JMP QPS IJMP -B GJSNB 5BLBTBNJ TF IB DPOWFSUJEP FO TJOร OJ NP EF MB NPEB NยฒT USBEJDJPOBMJTUB Z WBOHVBSEJTUB EF .ยนYJDP EF DPNP VOB FNQSFTB OBDJEB FO +BMJT DP IB JOWPMVDSBEP BM BSUF QMยฒTUJDP FO MPT UFYUJMFT EF FMFHBOUFT WFTUJEPT QBSB SFGMFKBS MPT FEJGJDJPT QBJTB KFT Z QFSTPOBKFT NยฒT JDร OJDPT EFM QBยฝT .ยฒT BMMยฒ EF QSFTVNJS TV FTUBUVJMMB EFM &NNZ HBOBEB FO 3PTBSJP QSFGJFSF IBCMBS EFM JNQBDUP RVF TVT DSFB DJPOFT IBO UFOJEP FO FM NVOEP EF Dร NP VO QBS EF WFTUJEPT IBO TJEP DBQBDFT EF QBSBS FM USยฒGJDP FO MBT DBMMFT EF 4IBOHIยฒJ 1FSP BOUFT EF RVF MPT SFDPOPDJNJFOUPT NVO EJBMFT MMFHBSBO 3PTBSJP .FOEP[B ย PSJHJOBSJB EF .JDIPBDยฒO Z SBEJDBEB FO (VBEBMBKBSB EFTEF ย TF FOGSFOUร B EJWFSTPT PCTUยฒDVMPT DPNP MB DSJTJT FDPOร NJDB EF "OUFT EFM OBDJNJFOUP EF 5BLBTBNJ MB EJTFร BEPSB WJP Dร NP TV QSJNFSB UJFO EB FOGPDBEB B MPT BDDFTPSJPT Z TPNCSFSPT EFTBQB SFDJร QPS DPNQMFUP BOUF MB MMFHBEB EF QSPEVDUPT BTJยฒUJDPT QFTF B EJTUSJCVJS FO BMNBDFOFT EF QSFTUJ HJP DPNP &M 1BMBDJP EF )JFSSP -JWFSQPPM Z 'ยฒCSJ DBT EF 'SBODJB i'VF VOP EF MPT HPMQFT NยฒT UFSSJCMFT RVF UVWF :P GBCSJDBCB BDDFTPSJPT QBSB EBNB Z MF WFOEยฝB B MBT HSBOEFT UJFOEBT EFQBSUBNFOUBMFT UFOยฝB VO FTQBDJP EPOEF CSJOEBCB DMBTFT EF BSUF NBOVBM -MFHVยน B UF OFS NยฒT EF NVKFSFT RVF USBCBKBO FO FM UBMMFS Z PUSBT RVF TF MMFWBCBO USBCBKP QBSB BQPZBS B PUSBT $PO MB FOUSBEB EF QSPEVDUPT EF PSJHFO BTJยฒUJDP OP QVEF TFS DPNQFUJUJWB DPO FM QSFDJP MBT UJFOEBT NF EFKBSPO EF DPNQSBS 5VWF RVF MJRVJEBS B UPEBT MBT USBCBKBEPSBT TPMP NF RVFEยน DPO VOB QFSTPOBw 7JFOEP FTF FQJTPEJP B MB EJTUBODJB 3PTBSJP .FOEP[B DPOTJEFSB GVF FM DBNCJP RVF EFGJOJSยฝB QPS DPNQMFUP TV SFMBDJร O DPO MB NPEB Z FNQSFO EFS VO OJDIP EF OFHPDJP RVF TJFNQSF IBCยฝB FTUB EP GSFOUF B TVT PKPT TV BNPS QPS MBT QSFOEBT CPS EBEBT QPS MB NBOUB i1FOTBCB RVF FTUBCB EFSSPUBEB RVF OP UFOยฝB OBEB NยฒT RVF IBDFS "Iยฝ DBNCJยน B MB SPQB UFOยฝB RVF CVTDBS BMHP RVF OP FYJTUJFSB FO FM NFSDBEP RVF QV EJFSB IBDFS Z FTUVWJFSB FO NJT QPTJCJMJEBEFT FDPOร NJDBT :P IBDยฝB NVDIB EF NJ SPQB DPO NBOUB QFO Tยน RVF FSB VO OJDIP B NVDIBT QFSTPOBT MFT HVTUBO NJT QSFOEBT TF JOUFSFTBCBOw 3PTBSJP SFDVFSEB RVF MB JEFB RVF BOUFT TF UF OยฝB EF MB SPQB DPO iFTUJMP NFYJDBOPw TF MJNJUBCB TPMP B MB GPMDMร SJDB B MPT FYDFTPT EF WPMBOUFT FT DBSPMBT Z UFYUJMFT QFTBEPT QSFOEBT DPO MBT RVF MBT NVKFSFT TF TFOUยฝBO EJTGSB[BEBT QBSB DFMFCSBS MPT EยฝBT QBUSJPT i7JTVBMJDยน SPQB RVF GVFSB NยฒT VTBCMF DPO VO UPOP OFVUSP DPNP FT MB NBOUBw EFTUBDB MB EJTFร B EPSB BM NFNPSBS RVF EF MPT DVBUSP UJQPT EF NBOUB RVF FYJTUยฝBO OJOHVOB TF BEBQUBCB B MBT OFDFTJEB EFT RVF FMMB CVTDBCB QBSB IBDFS EF MB NBOUB Z FM CPSEBEP BMHP SFBMNFOUF DPNFSDJBM Z BUSBDUJWP QBSB MBT HFOFSBDJPOFT KVWFOJMFT i5VWF RVF DSFBS NJT QSPQJBT UFMBT $VBOEP MPT FTUVEJBOUFT EF EJTFร P NF EJDFO RVF OP FODVFOUSBO MPT NBUFSJBMFT ZP EJHP RVF EFCFO CVTDBS MB GPSNB EF JOWFOUBSMPT OP UPEP FTUยฒ IFDIP TJFNQSF IBZ BM HP RVF NFKPSBS $SFBS NJT UFMBT GVF QBSUF EFM ยนYJ UP EF 5BLBTBNJ FSBO NBOUBT DPO EJTFร PT NVZ WBOHVBSEJTUBT MMFHBNPT B UFKFS NBOUB HSVFTB DPO MJDSB QBSB VOB CPVUJRVF FO &VSPQB DPO UFMB BSUF TBOBM VOJNPT MB SVTUJDJEBE EF MB NBOUB DPO MP OP WFEPTP EF MB MJDSBw

304"3*0 .&/%0;" 4F QPTJDJPOB DPNP VOB GJHVSB RVF EFTUBDB EFTEF .ร YJDP QBSB UPEP FM NVOEP HSBDJBT B TV QBSUJDJQBDJร O FO MB JOEVTUSJB EF MB NPEB

5SBEJDJยฏO " -" 7"/(6"3%*"

-BT BEWFSTJEBEFT TF DPNCBUFO USBCBKBOEP &TUF IB TJEP FM NBOUSB EF 3PTBSJP .FOEP[B MB EJTFยจBEPSB EF NPEBT RVF TF IB DPOTPMJEBEP DPNP VOB EF MBT NVKFSFT DMBWF FO FM EFTBSSPMMP EF MB JOEVTUSJB EF MB NPEB NFYJDBOB B OJWFM NVOEJBM

3&$0/0$*.*&/50 3FDJFOUFNFOUF GVF HBMBSEPOBEB QPS MB PSHBOJ[BDJร O 8PNFO 5PHFUIFS FO BMJBO[B DPO MB 0/6 "EFNร T QPTFF FM ร OJDP &NNZ FO .ร YJDP

$POTPMJEBDJยฐO 4FHVSB EF MBT PQPSUVOJEBEFT DSFBUJWBT Z DP NFSDJBMFT RVF (VBEBMBKBSB UFOยฝB FO MB JOEVTUSJB EF MB NPEB OBDJPOBM BQPZยฒOEPTF EF MPT UBMFOUPT FNFS HFOUFT JOEFQFOEJFOUFT Z EF MBT FTDVFMBT EF EJTFร P 3PTBSJP DPNFO[ร BEFOUSBSTF NยฒT B MPT NPWJNJFO UPT EFM QBOPSBNB NPEJTUP BM JOUFHSBTF B MB $ยฒNB SB EFM 7FTUJEP EF +BMJTDP PSHBOJTNP FO FM RVF GVF QSFTJEFOUB BQPTUBOEP QPS VO EJTDVSTP RVF EFGFO EJFSB B MPT QSPEVDUPT MPDBMFT GSFOBS MB WFOUB JMFHBM EF QSFOEBT Z PGSFDFS QMBUBGPSNBT EF QSPZFDDJร O B MPT OVFWPT EJTFร BEPSFT i'VF VO HSBO DPNQSPNJTP FM QPEFS BQPSUBS B NJ TFDUPS JEFBT EF Dร NP FM EJTFร P FSB QBSUF JNQPS UBOUF FO MB DPOGFDDJร O .F FOGPRVยน NVDIP FO MBT VOJWFSTJEBEFT Z MPT Kร WFOFT QBSB EBSMF FTF WBMPS BM EJTFร P RVF UBNCJยนO TF IBCMBSB EFM EJTFร P DPNP VOB QBSUF GVOEBNFOUBM EF MB FDPOPNยฝB Z HFOFSB DJร O EF UFOEFODJBTw 1PTUFSJPS B FTUF FKFSDJDJP FO MB $BOBJWF 3PTB

iร ย >ย `ย ร ->ร >ร iร )BDF QPDBT GFDIBT GVF FM %ยฝB .VOEJBM EF *OUFSOFU VOB GFTUJWJEBE RVF QPS SB[POFT PCWJBT EFCF TFS NVZ SFDJFOUF FO OVFTUSP TBOUPSBM MBJDP &O FM OPUJDJFSP EF UFMFWJTJร O EJFSPO TV PQJOJร O TPCSF MB GFDIB BMHV OPT DJVEBEBOPT BQBSFOUFNFOUF FMFHJEPT BM B[BS 4F MFT QSFHVOUBCB Dร NP TFSยฝB FM NVOEP BDUVBM TJ EF QSPOUP OPT WJยนTFNPT QSJWBEPT EF JOUFSOFU &M QSJNFSP EF MPT FOUSFWJTUBEPT VO IPNCSF EF VOPT USFJOUB Bร PT EF FEBE CJFO USBKFBEP Z DPO BTQFDUP TFSJP SFQVTP TJO WBDJMBS i4JO JOUFSOFU NJ WJEB OP UFOESยฝB TFOUJEPw .F JNQSFTJPOร RVF OP EJ KFSB RVF TFSยฝB NVDIP NยฒT JODร NPEB P RVF EFKBSยฝBO EF FTUBS B TV BM DBODF BDUJWJEBEFT Z DPOPDJNJFOUPT B MPT RVF ZB OPT IFNPT BDPTUVN CSBEP 1FSP FM TFOUJEP EF MB WJEB {)BCSยฝB DPOUFTUBEP MP NJTNP TJ MF IVCJFTFO QSFHVOUBEP QPS MB EFTBQBSJDJร O EF MB FMFDUSJDJEBE P EFM BHVB DPSSJFOUF 4VQPOHP RVF OP QPSRVF IPZ FTPT VUJMยฝTJNPT TFSWJDJPT TPO WJTUPT DPNP JOTUSVNFOUPT DBTJ JOEJTQFOTBCMFT EF VOB CVFOB WJEB QF SP OP DPNP MP RVF QSPQPSDJPOB TJHOJGJDBEP B MB WJEB NJTNB 4PO NF

53"#"+0 "35&4"/"- (SBDJBT B TV USBCBKP Z USBZFDUPSJB FT VO FKFNQMP EF FNQSFOEJNJFO UP QBSB NVDIBT NVKFSFT

SJP .FOEP[B EJP PUSP HSBO BWBODF FO MB DPOTPMJEB DJร O EF MB JOEVTUSJB NPEJTUB EF +BMJTDP DSFBS Z DP PSEJOBS FM QSJNFS $POTFKP EF MB .PEB RVF QPS QSJ NFSB WF[ VOยฝB JOJDJBUJWBT Z UBMFOUPT EF MBT $ยฒNBSBT EF +PZFSยฝB $BM[BEP 5FYUJM Z 7FTUJEP

1SPZFDDJยฐO ยทOJDB &O MB IJTUPSJB EF 5BLBTBNJ GJHVSBO EPT NP NFOUPT DSVDJBMFT RVF OP TPMP QVTJFSPO B 3PTBSJP .FOEP[B DPNP VOB EJTFร BEPSB JOUFSOBDJPOBM TJ OP B MB NPEB NFYJDBOB DPNP VO FTUJMP F JOEVTUSJB DBQB[ EF SFGMFKBS FO MBT QSFOEBT UPEB VOB JEFOUJ EBE DVMUVSBM "Tยฝ FT DPNP MMFHร 4IBOHIยฒJ FO Bร P FO FM RVF .ยนYJDP GVF JOWJUBEP EF IPOPS FO TV 'FSJB 6OJ WFSTBM FWFOUP FO FM RVF 5BLBTBNJ NPTUSร BMHVOPT EF TVT WFTUJEPT NยฒT JDร OJDPT DPNP FM EFEJDBEP B +PTยน $MFNFOUF 0SP[DP FO FM GBMEร O SFDPSEBOEP MB PCSB i&M IPNCSF EF GVFHPw &M BUVFOEP MMBNร UBO UP MB BUFODJร O RVF NFTFT EFTQVยนT 3PTBSJP .FOEP

ย ร ร ย ย ย ย ร ร `iร ย >ร ร i` EJPT OP GJOFT NJFOUSBT RVF JOUFSOFU QBSFDF IBCFSTF DPOWFSUJEP BM NFOPT QBSB BMHVOPT EF TVT VTVBSJPT FO QSPQJBNFOUF VO GJO &YBHF SBOEP VO QPDP QFSP DSFP RVF TJO NBMJOUFSQSFUBS GVOEBNFOUBMNFOUF MP RVF JNQMJDBCB MB TPMFNOF EFDMBSBDJร O EF BRVFM DJVEBEBOP JOUFS OFU OP FTUยฒ BM TFSWJDJP EF TV WJEB TJOP RVF IBO QVFTUP TV WJEB BM TFS WJDJP EF JOUFSOFU :B MPT BOUJHVPT FTUPJDPT BEWJSUJFSPO RVF UPEP MP RVF BNBNPT QSP GVOEBNFOUF TF DPOWJFSUF JOFWJUBCMFNFOUF FO FM QVOUP WVMOFSBCMF QPS FM RVF QVFEF BUBDBSOPT MB EFTEJDIB 4PNPT FTDMBWPT EF OVFTUSPT DB SJร PT Z BGJDJPOFT &O FM DBTP EF JOUFSOFU BRVFMMP RVF MP BNFOB[B ย WJSVT IBDLFST JOUFSGFSFODJBT CMPRVFBEPSBT EF DVBMRVJFS UJQP ย OP Tร MP QFSUVSCB OVFTUSP USBCBKP P JOUFSGJFSF FO OVFTUSB JOUJNJEBE TJOP RVF BHSFEF EJSFDUBNFOUF FM TBOUVBSJP EPOEF IPZ HVBSEBNPT MPT TBO UPT ร MFPT DPO RVF NBOUFOFNPT FOHSBTBEP FM TJHOJGJDBEP EF MB WJEB {2Vยน SFTDBUF OP FTUBSFNPT EJTQVFTUPT B QBHBS QPS SFDVQFSBSMP -PT

[B GVF MB SFTQPOTBCMF EF DMBVTVSBS FM 'BTIJPO 8FFL EF 4IBOHIยฒJ KVOUP BM EJTFร BEPS EF KPZFSยฝB 4FSHJP #VTUBNFOUF 6O Bร P EFTQVยนT (VBEBMBKBSB GJHVSBCB DPNP TFEF EF MPT +VFHPT 1BOBNFSJDBOPT EF Z 5BLB TBNJ GVF MB NBSDB FODBSHBEB EF DSFBS NยฒT EF USFT NJM WFTUVBSJPT DPO DBSBDUFSยฝTUJDBT NFYJDBOBT QBSB FM BDUP JOBVHVSBM 4PSQSFTJWBNFOUF MB "DBEFNJB EF $JFODJBT Z "SUFT EF MB 5FMFWJTJร O &TUBEPVOJEFOTF DPOTJEFSร RVF MB DPOGFDDJร O Z DPMPSJEP EF MBT QSFOEBT NFSF DยฝBO TFS SFDPOPDJEPT DPO FM &NNZ FM ร OJDP RVF .ยนYJDP UJFOF EFTEF MB USJODIFSB EF NPEB i&M QSPZFDUP OP NF BTVTUร QBSB Nยฝ GVF VO DPNQSPNJTP 4J OP MP IBHP ZP FO FTUF NPNFOUP TF QFSEFSยฝB VOB HSBO PQPSUVOJEBE EF NPTUSBS BM NVO EP RVJFOFT TPNPT EF RVF TPNPT DBQBDFT +BNยฒT QFOTยน RVF NF GVFSBO B QSFNJBS QPS BMHP RVF NF HVTUB IBDFS RVF NF QBHBSPO QPS IBDFSMP &T FM ร OJ DP &NNZ RVF IBZ FO .ยนYJDPw

OVFWPT HยฒOHTUFST RVF QVFEFO FTUBS B NJMFT EF LJMร NFUSPT QFSP BQB SFDFO QBSB BNFOB[BSOPT QPS MB QBOUBMMB RVF UFOFNPT GSFOUF B MPT PKPT FT EFDJS B USBWยนT EF MB WFOUBOB QPS MB RVF DPOUFNQMBNPT FM NVO EP DPOTFHVJSยฒO EF OPTPUSPT OP Tร MP EJOFSP RVF QBHBSFNPT SFTJHOB EPT DPO UBM EF SFDVQFSBS MP RVF OPT IBDF WJWJS TJOP TVNJTJร O OPT WFOEFSยฒO TV QSPUFDDJร O DPOUSB FMMPT NJTNPT P DPOUSB PUSPT EF TV NJTNB DBMBร B Z B DBNCJP CFTBSFNPT MPT EFEPT DPO MBT RVF PQSJNFO MBT UFDMBT RVF B WFDFT OPT BHBSSPUBO Z PUSBT OPT MJCFSBO )BTUB IB DF NVZ QPDP Bร O TFHVยฝBNPT DSFZFOEP ย TPCSF UPEP MPT NยฒT Kร WF OFT QSPQFOTPT B JNBHJOBS RVF MB GBMUB EF DPOUSPMFT FRVJWBMF B MB MJ CFSUBEย RVF JOUFSOFU FSB MB VUPQยฝB TJO USBCBT OJ DPSUBQJTBT Z TF FTDVDIBCBO QSPUFTUBT JSBDVOEBT DBEB WF[ RVF TF JOWPDBCBO MFZFT FO FTF OVFWP NVOEP GFMJ[ 1FSP ZB WBNPT FTUBOEP BMHP NยฒT FTDBS NFOUBEPT 4J GJOBMNFOUF JOUFSOFU WB B TFS MB TFEF OP Tร MP EF MBT NF KPSFT IFSSBNJFOUBT TJOP UBNCJยนO EF OVFTUSBT NยฒT QSFDJPTBT BWFO UVSBT OFDFTJUBSFNPT BMMยฝ NJTNP MP RVF QSPUFHF OVFTUSB DPOWJWFODJB DJWJMJ[BEB EFTEF IBDF TJHMPT OPSNBT Z HVBSEJBOFT RVF QPOHBO DP UP B MPT EFQSFEBEPSFT : QPS OVFTUSB QBSUF MBT WJSUVEFT FTFODJBMFT EFM DPSBKF Z MB QSVEFODJB 'FSOBOEP 4BWBUFS ร '&3/"/%0 4"7"5&3 &%*$*0/&4 &- 1"ยก4 4 -


%PNJOHP EF NBZP EF

Ê /1, -ÊÊ 6 , >À >Ê*> >À

&M FTDSJUPS 1SPTQFS .¹SJN¹F FT HFOFSBMNFOUF SFDPSEB EP DPNP BVUPS EF $BSNFO OBSSBDJÂO RVF TF IBS½B GBNPTB HSBDJBT B MB ÂQFSB EF #J[FU FTUSFOBEB FO DVBOEP .¹SJN¹F ZB IBC½B NVFS UP 4V MFHBEP BVORVF QPDP MF½EP FO MB BDUVBMJEBE FT NVZ HSBOEF OB SSBUJWB UFBUSP FOTBZP DPSSFTQPOEFODJB DSÂOJDBT EF WJBKFT USBEVD DJPOFT EF 5VSHVFOJFW Z 1VTILJO 5½QJDP FTDSJUPS EF MB QSJNFSB NJUBE EFM TJHMP 9*9 MF BUSB½B FM NJTUFSJP Z FM FYPUJTNP RVF BIPSB TF DBMJGJ DBS½B EF iPSJFOUBMJTNPw EF QB½TFT DPNP &TQBÁB Z 3VTJB Z MF HVTUB CBO MBT OPWFMBT IJTUÂSJDBT EF 8BMUFS 4DPUU &O GVF FMFHJEP NJFN CSP EF MB "DBEFNJB 'SBODFTB 1FSP IBZ PUSBT GBDFUBT EF .¹SJN¹F NFOPT DPOPDJEBT &SB CVFO QJOUPS FYDFMFOUF QJBOJTUB BCPHBEP QFSP FTU² TPCSF UPEP TV JN QPSUBOUF BDUJWJEBE DPNP JOTQFDUPS HFOFSBM EF MPT NPOVNFOUPT IJT UÂSJDPT QVFTUP RVF BTVNJÂ FO Z EFTEF FM DVBM CVTDÂ QSPUFHFS FM QBUSJNPOJP EF 'SBODJB RVF IBC½B MPHSBEP TPCSFWJWJS USBT FM EFTBTUSF

1~(*/" #

&- */'03."%03

jÀ jiÊ Ã«iVÌ À SFWPMVDJPOBSJP 7JBK QPS UPEP FM QB½T NBOUVWP DPSSFTQPOEFODJB DPO MPT FSVEJUPT Z DSPOJTUBT EF JOGJOJEBE EF MPDBMJEBEFT QVCMJD FOUSF Z MPT SFTVMUBEPT EF TVT FYQFEJDJPOFT Z QFTRVJTBT .¹SJN¹F JOWFOU FO VOB ¹QPDB FO MB RVF BQFOBT TF WJTMVNCSB CB MB OPDJÂO EF DPOTFSWBDJÂO EFM QBUSJNPOJP MP RVF MVFHP TF MMBNBS½B iMB BSRVFPMPH½B EF MP DPOTUSVJEPw Z GVF ¹M RVJFO JOWJU B TV BNJHP FM BSRVJ UFDUP 7JPMMFU MF %VD B MMFWBS B DBCP VOB EF TVT QSJNFSBT SFTUBVSBDJPOFT EF FEJGJDJPT "EFN²T EF JOUFOUBS SFWFSUJS MPT FGFDUPT EFM WBOEBMJTNP SF WPMVDJPOBSJP Z EF MB JODVSJB .¹SJN¹F UVWP RVF DPNCBUJS MB JHOPSBODJB EFTUSVDUJWB EF NVDIPT EVFÁPT EF FEJGJDJPT QBUSJNPOJBMFT FO QBSUJDVMBS FM DMFSP FM FK¹SDJUP Z MPT BZVOUBNJFOUPT RVF TJO OJOHÈO DSJUFSJP OJ PQJ OJÂO DBMJGJDBEB TPM½BO NPEJGJDBS DFSDFOBS P EF QMBOP EFNPMFS MPT JONVF CMFT IJTUÂSJDPT EF MPT RVF FTUBCBO B DBSHP &O TF DSFB VOB $PNJTJÂO EF .POVNFOUPT )JTUÂSJDPT GPSNBEB QPS BSRVJUFDUPT BSRVFÂMPHPT Z QPM½UJDPT RVF FWBMÈB MB JN

6 - $ Ê9Ê - $

>À ÃÊ ÀÌjÃÊ6?âµÕiâ

>Ê` v V Êv>V `>`Ê`iÊ Ã « i i ÌiÊ Ì>À 1BSBEÂKJDBNFOUF MB DJFODJB OP EPNJOB WJS (PCFSOBOUFT NPUJWBEPT QPS TBOB BENJSBDJÂO IBDJB BDDJPOFT USJVOGBMFT FO PUSBT MBUJUVEFT UVEFT UBO TJNQMFT DPNP FOJHN²UJDBT "MHVOBT QSPDVSBO TV JNQPSUBDJÂO TVQFSGJDJBM Z OP FT EF FMMBT TBMVE GFMJDJEBE DPOGJBO[B Z WFSEBE BC USVDUVSBM TJO MB QSFWJB DPOTJEFSBDJÂO RVF JNQMJ TPMVUB QBSB HBSBOUJ[BS QB[ FRVJEBE Z MJCFSUBE DB MB BEPQDJÂO QPS QBSUF EF MB QPCMBDJÂO EF EJ 1PS BIPSB TF WJWF VO DMJNB EF EFTDPOGJBO[B QSP QJDJBEB QPS BNCJDJPTP EFTFRVJMJCSJP 4PO NÈM GFSFOUF JEJPTJODSBTJB -B GBMUB EF PSJHJOBMJEBE BDPSEF B MBT DPOEJ UJQMFT MPT FKFNQMPT EF PSHBOJTNPT JOÈUJMFT P BM DJPOFT OBUVSBMFT JOUFHSBOUFT EF DBS²DUFS JNQJ NFOPT BKFOPT BM DVNQMJNJFOUP EF VOB SFTQPO EF MB BTJNJMBDJÂO DPO MB TPMB DSFBDJÂO EF FTQB TBCJMJEBE QSBHN²UJDB FO FM DPOUFYUP OBDJPOBM .¹YJDP IBDF RVJOJFOUPT BÁPT DJPT CVSPDS²UJDPT FWFOUVBMNFOUF JOJDJ TV QFSFHSJOBS BOHVTUJBEP QPS DPTUPTPT TJO PCKFUJWP QSBHN²UJDP Z EFTFRVJMJCSJPT JNQVFTUPT QPS MB U¹D B DBNCJP QPTUFSJPS SFQVEJP DJVEB EBOP &O SFTVNFO DJNJFOUPT TJO >Ê ÃÌ À >Ê`i Ê«>Ã>` ÊiÃÊ OJDB CFMJDPTB 4F TVDFEJFSPO USFT FEJGJDBDJÂO Z MBNFOUBCMF GSBDBTP iVV Ê`iÊÛ `>Ê«>À>Êi Ê DJFOUPT BÁPT DPO MPT PKPT IBDJB BM TVFMP Z MB QBMNB EF MB NBOP BM DJF QBSB FM SFQSPDIF QPS QBSUF EF MPT «ÀiÃi ÌiÊV `ÕVÌ ÀÊ>Ê >Ê MP FO SVFHP Z FTQFSB EF MB WPMVOUBE QPTUFSJPSFT QFSTPOBKFT EFM ²NCJUP QPM½UJDP 'SBODJB *OHMBUFSSB 4VJ ÃÕ«iÀÛ Ûi V >Êi Ê >Ê EJWJOB RVF TF EBCB DPO BCSJHP TVT [B 4VFDJB &TUBEPT 6OJEPT 3VTJB } L> `>`]Ê>«Ài >`>Ê UFOUP Z GMBHFMP FO VO FOUPSOP BKFOP EF PUSPT TBUJTGBDUPSFT {4FS² RVF MB $IJOB +BQÂOy TPCSFTBMFO FO NB « ÀÊ >ÊÌiV } >Ê JHOPSBODJB FT FM C²MTBNP EF MB GFMJ EVSF[ OP BT½ 4JSJB Z FO -BUJOPBN¹ DJEBE SJDB 7FOF[VFMB "SHFOUJOB #SBTJM V LiÀië>V > °°° &O FM 0DDJEFOUF EFM UFSSJUPSJP TPO BMHVOPT QBSBEJHNBT EF EJGF OBDJPOBM UJFOF BTJFOUP Z TVTUFOUP SFOUF ½OEPMF QFSP EF DBSBDUFS½TUJ (VBEBMBKBSB B QBSUJS EF TV GVOEB DBT EJG½DJMFT Z G²DJMFT EF QPUFODJBM JNJUBDJÂO &M SFDMBNP BERVJFSF QSPQPSDJPOFT DJÂO USBT VO QFSFHSJOBKF EF TFTFOUB GBNJMJBT BM NBZÈTDVMBT FO DPOEJDJPOFT FDPOÂNJDBT QSFDB DPNBOEP EF /VÁP #FMUS²O EF (V[N²O Z MB EF SJBT DPO G²DJM JODMJOBDJÂO EFNBHÂHJDB Z EF BN UFSNJOBDJÂO EF VOB NVKFS #FBUSJ[ )FSO²OEF[ CJDJÂO QPM½UJDB DPO GBMUB EF TVTUFOUP DSFBUJWP FO FM EF GFCSFSP EF BM HSJUP `&TUF FT NJ HB MPT TFOUJNJFOUPT Z SFTQBMEP EF MB QPCMBDJÂO DPO MMP B MB WFSB EFM QPCSF S½P DPO QPDBT BHVBT FWJEFOUFT EJGFSFODJBT Z EFGJDJFODJBT C²TJDBT OPNCSBEP 4BO +VBO EF %JPT 0SHVMMP Z EFTBG½P B MP JOIÂTQJUP EJFSPO GPS -B IJTUPSJB EFM QBTBEP FT MFDDJÂO EF WJEB QB SB FM QSFTFOUF DPOEVDUPS B MB TVQFSWJWFODJB FO NB Z DBS²DUFS B (VBEBMBKBSB BUSJCVUPT NBOUF MB HMPCBMJEBE BQSFNJBEB QPS MB UFDOPMPH½B DJCF OJEPT QPS TVT IBCJUBOUFT QPS OBDJNJFOUP P SFTQBDJBM HFOFSBEPSB EF DPNQMJDBEB GVTJÂO HF BEPQDJÂO &KFNQMP EJTUJOUJWP FT FM EF 'SBZ "O OFSBDJPOBM DPO SFDMBNP EF DPODJFODJB QÈCMJDB UPOJP "MDBMEF oFM GSBJMF EF MB $BMBWFSB DSFBEPS SFTQPOTBCMF EF EFCFSFT Z EFSFDIPT -B DPNQV EFM )PTQJUBM $JWJM DPO VOB WJTJÂO UBO DMBSB RVF UBEPSB PSEFOB OVFTUSB WJEB EF BDVFSEP B TPGJT QBTBEPT EPT TJHMPT EF GVODJÂO BM BVYJMJP EF MB UJDBEPT TJTUFNBT EBOEP SFTQVFTUB JONFEJBUB EF )VNBOJEBE %PMJFOUF BÈO PUPSHB TVT WBMJPTPT BDVFSEP B WFSEBEFT QSFWJBNFOUF FTUBCMFDJEBT TFSWJDJPT B MPT IBCJUBOUFT EF MB $JVEBE Z QBSUF 4V WFSEBE FT BCTPMVUB BVORVF BÈO JSSBDJPOBM EFM 0DDJEFOUF EFM QB½T 4JO EVEB VOB HSBO FKFN {$V²OUP GBMUB FO UJFNQP Z SFDVSTPT QBSB RVF MB QMP %JPT OPT HVBSEF EF MB EJTDPSEJB DJFODJB UFDOPMÂHJDB TVQMB BM DFSFCSP EF NBOFSB JOUFHSBM /P IBZ SFTQVFTUB Z MB FTQFDVMBDJÂO BO TJDQN!JOGPSNBEPS DPN NY HVTUJB N²T EF MP RVF QPES½B TFS FM EFTFOHBÁP

"-Ê " ", -Ê Ê/ *" À > ` Ê â? iâÊ ÃV Ì

ÊV à Ê`i Ê«iÀÀ "M IBCMBS EFM DJOJTNP NF SFGJFSP B MB BDFQDJÂO CVSSP DSJUJDBS B MPT PSFKPOFT Z FO TFHVOEP MVHBS DPMPRVJBM RVF QPS UBM FOUJFOEF VOB EFTQSFPDV OP IBDFO TJOP NPTUSBS FM CBKP DPODFQUP RVF UJF QBEB EFTWFSHÊFO[B P GBMUB EF QVEPS : FT RVF MPT OFO EF TV GVODJÂO &O FGFDUP MB FTDFOB QPM½UJDB QFSSPT WJWFO FTUB BDUJUVE IBDJFOEP EF OVFTUSPT UJFNQPT FT EFQSJNFO MP RVF OBEJF TVFMF IBDFS FO QÈCMJDP UF MPT QBSUJEPT QPM½UJDPT TPMBNFO Z B MB WJTUB EF RVJ¹O TFB TJO MB NFOPS EJTDSFDJÂO /P MFT JNQPSUB FO MP N²T Û V> ` Ê>Ê->ÀÌÀiʵÕiÊ UF FTU²O TJSWJFOEP QBSB BSSVJOBS MB N½OJNP RVF MB HFOUF MPT WFB P MP RVF >v À ʵÕiÊi ʺ ÌÀ »ÊiÃÊ WJEB QÈCMJDB Z QSJWBEB EF MB DJVEB EBO½B QVFT EFEJDBEPT DPNP FTU²O MB HFOUF QJFOTF P EJHB EF FMMPT TPO à i «ÀiÊ Êi i } ]ÊÞÊ B CMPRVFBSTF VOPT DPO PUSPT B FY QFSSPT Z DPNP UBMFT D½OJDPT 7JFOF B MB NFNPSJB QPS MB TFSJF µÕiÊ >ÊÖ V>Ê« à L `>`Ê QFOTBT EF MB BENJOJTUSBDJÂO MPT SFTVMUBEPT OP QVFEFO TFS TJOP Q¹ EF TJUVBDJPOFT RVF FTUBNPT WJFOEP Z PZFOEP B USBW¹T EF MPT NFEJPT EF `iʵÕiÊ` ÃÊÃiÊ« }> Ê`iÊ TJNPT %F FTUB QPTUVSB JOGBOUJM Z DPNVOJDBDJÂO OP PUSB DPTB RVF FM >VÕiÀ` ÊiÃÊVÕ> ` Ê Ê DPSSVQUB OBEJF TF FTDBQB OJOHÈO SVCSP NVOJDJQBM P FTUBUBM MP NJT QFSJÂEJDP FODBSOJ[BNJFOUP EF MPT >Vi Ê«>À>Ê ÀÊi ÊV ÌÀ> NP TJ TF USBUB EF MB DVMUVSB RVF EF QBSUJEPT QPM½UJDPT B DVZPT FYQPOFO MB SFDPMFDDJÂO EF CBTVSB EF MPT FT UFT ZB OP MFT JNQPSUB IBDFS FM SJE½DV UBDJPOÂNFUSPT P EFM BMVNCSBEP MP Z MP IBDFO DPO FM NBZPS EF MPT DJ QÈCMJDP Z FO MB NFEJEB RVF DSFDF OJTNPT /P FT RVF TF USBUF EF FM UFNPS EF QFSEFS MBT QSÂYJNBT QFSTPOBT QSJWBEBT EF JOUFMJHFODJB TJ MVFHP B QFTBS EF TFS QFOTBOUFT ÊiviVÌ ]Ê >ÊiÃVi >Ê FMFDDJPOFT BVNFOUB QBSBOPJDB BTVNFO QBQFMFT UBO MBNFOUBCMFT MP « Ì V>Ê`iÊ ÕiÃÌÀ ÃÊ NFOUF MB TFSJF EF TVDJPT SFDVSTPT QBSB HBOBSMBT DPNP WFNPT UPEPT ÈOJDP RVF VOP QVFEF QFOTBS FT RVF UJFOFO P NVDIB OFDFTJEBE P TPCSB Ì i « ÃÊiÃÊ`i«À i Ìi]Ê MPT E½BT RVF TVDFEF FO FM FTUBEP EF EB BWJEF[ QBSB IBDFS Z EFDMBSBS MP ÃÊ«>ÀÌ ` ÃÊ« Ì V ÃÊ .¹YJDP EPOEF FM HPCJFSOP SFJOBO UF IB UJSBEP MB DBTB QPS MB WFOUBOB RVF MFT NBOEFO BOUF VO QÈCMJDP RVF à > i ÌiÊiÃÌ? Ê EFTEF FM QBTBEP NFT EF FOFSP B QPS TJ EF WFSBT OP MP TBCFO ZB OP MFT DSFF EFTEF IBDF NVDIP UJFNQP à ÀÛ i ` Ê«>À>Ê>ÀÀÕ >ÀÊ GJO EF BTFHVSBSTF FM WPUP SFDVSTP RVF NVZ CJFO QPES½B FTUBS TBMJFO &WPDBOEP B 4BSUSF RVF BGJSN >ÊÛ `>Ê«ÖL V>ÊÞÊ«À Û>`> EP EFM ZB PMWJEBEP iHBTPMJOB[Pw RVF FM iPUSPw FT TJFNQSF NJ FOFNJ -B EFOVODJB QPS HBTUPT FYDF HP Z RVF MB ÈOJDB QPTJCJMJEBE EF RVF TJWPT FO FM UFNB RVF TFB BEKVEJDB EPT TF QPOHBO EF BDVFSEP FT DVBO EP MP IBDFO QBSB JS FO DPOUSB EF VO UFSDFSP SF DJPOFT EJSFDUBT BCVTPT EF BVUPSJEBE DSFDJ TVMUB QPS EFN²T FWJEFOUF RVF FTP FT KVTUP MP RVF NJFOUP EFTNFEJEP EF OÂNJOBT OFQPUJTNP IBDFO FM 13* Z FM 1"/ DVBOEP DPJODJEFO FO TV BWJBEPSFT QPS UPEBT QBSUFT JOFQUJUVE CVSPDS² BUBRVF B .03&/" 2VF SFQSFTFOUBOUFT EFM 13* UJDB FUD EFCFS½B TFS QSFDFEJEB QPS VOB EFDMB MPDBM HBTUFO TV QSFDJPTP UJFNQP IBDJFOEP EFDMB SBDJÂO EF DVMQB QVFT FTP RVF DSJUJDBO FT QSFDJ SBDJPOFT EFOVODJBT QSPUFTUBT Z SFDMBNPT QPS TBNFOUF MP RVF FOTFÁBSPO B IBDFS DVBOEP MFT MBT GBMMBT BEWFSUJEBT FO MB BENJOJTUSBDJÂO QÈCMJ UPDBCB BENJOJTUSBS {DÂNP FT RVF BIPSB UBO D½ DB EF MPT NVOJDJQJPT EF MB [POB NFUSPQPMJUBOB OJDBNFOUF TF BENJSBO BSNBOEP HPO!VOJWB NY FO QSJNFS MVHBS OP MFT RVFEB QVFT OP MF UPDB BM

QPSUBODJB EF MPT FEJGJDJPT BTJHOB MPT QSPZFDUPT EF SFTUBVSBDJÂO Z EF UFSNJOB MBT QSJPSJEBEFT Z MPT SFDVSTPT &M JOTQFDUPS .¹SJN¹F IJ[P RVF TF MFWBOUBSB VO JOWFOUBSJP OBDJPOBM EF MPT DPOKVOUPT BSRVJUFDUÂOJDPT OPUBCMFT MB MMBNBEB i-JTUB EF w RVF JODMV½B FEJGJDBDJPOFT EF UP EBT MBT ¹QPDBT EFTEF FM /FPM½UJDP IBTUB MB &EBE .PEFSOB &TF USBCB KP TFOUÂ MBT CBTFT EF MP RVF VO TJHMP EFTQV¹T TFS½B FM HSBO *OWFOUBSJP (FOFSBM EF .POVNFOUPT RVF TF DPNQJMÂ EVSBOUF MB ¹QPDB EF "OES¹ .BMSBVY FO FM .JOJTUFSJP EF $VMUVSB 1PS FTP TF MMBNB #BTF .¹SJN¹F MB CBTF EF EBUPT EF UPEPT MPT NPOVNFOUPT IJTUÂSJDPT EF 'SBODJB RVF FYJTUF EFTEF &O 1SPTQFS .¹SJN¹F QBTÂ RVJODF E½BT FO MB D²SDFM Z QBHÂ NJM GSBODPT EF NVMUB QPS IBCFS UPNBEP QBSUJEP QPS TV BNJHP FM DPOEF -JCSJ QJOUPSFTDP QFSTPOBKF GMPSFOUJOP RVF BEFN²T EF TFS VO NBUFN²UJDP OPUBCMF GVF VO CSJCÂO RVF SPCÂ HSBO DBOUJEBE EF EPDV NFOUPT JNQPSUBOUFT EF NVDIBT CJCMJPUFDBT GSBODFTBT %VSBOUF FM 4FHVOEP *NQFSJP .¹SJN¹F GVF NVZ DFSDBOP B MB FNQFSBUSJ[ &VHFOJB B RVJFO IBC½B DPOPDJEP EFTEF OJÁB FO VO WJBKF B &TQBÁB FO 'VF OPNCSBEP TFOBEPS Z BVORVF OP RVJ TP TFS EJSFDUPS EF MPT "SDIJWPT EFM *NQFSJP T½ BDFQUÂ QSFTJEJS MB DPNJTJÂO FODBSHBEB EF SFPSHBOJ[BS DPO DSJUFSJPT NPEFSOPT MB #J CMJPUFDB /BDJPOBM

9 ,ÊÊ

"-

>À ÃÊ À }Õi

&TUB TFNBOB BM FTDVDIBS NVDIBT NVDI½TJNBT EFDMBSBDJPOFT EF OVFTUSPT BNBEPT HPCFSOBO UFT IF DB½EP FO DVFOUB EF RVF DPO FTB CBTF UP EPT ZB RVF OP IF FTDVDIBEP B OJOHVOP FO DPO USBSJP FTU²O NVZ QFSP NVZ DPOUFOUPT DPO TV BDUVBDJÂO Z FT CFO¹GJDP RVF MB HFOUF FTU¹ GFMJ[ QPSRVF TF JODSFNFOUBO MBT D¹MVMBT OFVSPWFHFUB UJWBT BNÂSGJDBT EFM QFSJUPOFP MBUFSBM DBVTBOUFT EF MB SJTB EFTFOGSFOBEB : NF EB HVTUP QPSRVF ZP FO FTUBT UFNQPSBEBT EPOEF TF EFTQBSSBNB FYDSFNFOUP FO DPOUSB EF SJ WBMFT FOFNJHPT Z DPNQFUJEPSFT USBUP EF OP IBDFS DBTP EF OJOHÈO TFÁBMBNJFOUP IFDIP QPS OVFTUSPT QSPIPNCSFT FO SFMBDJÂO DPO MPT PUSPT Z EFTEF MVF HP UBNCJ¹O EF MBT PQJOJPOFT EF TV QSPQJP BDUVBS EJHP QB OP FSSBS "T½ FO MBT SFEFT QVFEFO VTUFEFT DPOTVMUBS VOB TVQVFTUB FOUSFWJTUB IFDIB TVQVFTUBNFOUF QPS "EFMB .JDIB BM TVQVFTUBNFOUF FYHPCFSOB EPS OPSUFÁP )VNCFSUP .PSFJSB FO MB RVF ¹M TF BVUPDBMJGJDB N²T QVSP RVF FM BSD²OHFM TBO (B CSJFM MP RVF NF IBDF QFOTBS FO RVF UPEPT MPT RVF MP DSJUJDBNPT OP EFKBNPT EF TFS TJOP VOB NBOB EB EF DSJUJDPOFT WPDJGFSBNFOUBUJWPT F IJKPT EFM EPT EF CBTUPT EF OP TFS BT½ DPO BCTPMVUB DFSUF [B BMHVOB EF MBT NJMFT EF GJTDBM½BT ZB UVWJFSB BCJFSUB BMHVOB DBSQFUB EF JOWFTUJHBDJÂO ZB WF VTUFE MP FGJDBDFT RVF TPO OVFTUSPT DFMPTPT HVBS EJBOFT EF MB KVTUJDJB 5BNCJ¹O OVFTUSP BENJSBEP TFÁPS HPCFSOB EPS NVZ DPOUFOUJUP DPO TVT MPHSPT OPT IB BOVO DJBEP RVF BT½ MP EJHB FM */& P TV TVDVSTBM MPDBM FM PCJTQP FM QSFTJEFOUF EF MPT PCTFSWBEPSFT EF MPT TF SFT UFSSFTUSFT Z EFN²T PSHBOJ[BDJPOFT DJVEBEBOBT

º Ìi Ì Ì Ã» Z BOUJDJVEBEBOBT IBCJEBT Z QPS IBCFS BEFN²T EF UPEB MB DPSUF DFMFTUJBM Z BT½ MP QJEB UPEB MB QPCMB DJÂO MB W½B DJDMJTUB WB QPSRVF iMPT EFSFDIPT OP TF WPUBOw GSBTF RVF EFTEF BIPSB QSPQPOHP TF JOTDSJ CB FO 1BMBDJP EF (PCJFSOP KVTUP EFCBKP EF MB EF 1SJFUP EF iMPT WBMJFOUFT OP BTFTJOBOw 4PTUJFOF RVF BVORVF FTUPSCF TF IBS² QPSRVF FT QBSUF EFM QSP HSBNB EF EFTBSSPMMP OP NPUPSJ[BEP EF MB DJVEBE DVFTUJÂO RVF NF BMFHSB QFOTBS RVF QSPOUP NVZ QSPOUP QPESFNPT DJSDVMBS FO W½BT UBNCJ¹O OP NP UPSJ[BEBT QBSB FRVJOPT 1FSP RV¹ RVJFSF VTUFE ZP TPZ VO HPSEP NBM QFOTBEP BM RVF MF EB NVDIP QFSP NVDIP USBCB KP SFGMFYJPOBS DPO UBOUB BMUJUVE EF NJSBT Z N²T CJFO DSFP RVF MBT GBNPTBT DJDMPQJTUBT TPO VOP EF MPT NFKPSFT OFHPDJPT EFM HPCJFSOP RVF QVEJFSBO QFOTBSTF JEFBM QBSB ¹QPDB EF FMFDDJPOFT Z E½HB NF TJ OP {2VJ¹O QPES½B EFUFSNJOBS TJ TF HBTUB SPO VO NJMMÂO EF MJUSPT EF QJOUVSB WFSEF P DJFO NJMMPOFT EF MJUSPT {2VJ¹O QPES½B DIFDBS MB DBMJ EBE EF MBT NJTNBT {2VJ¹O QPES² TBCFS DVBOUPT CPMBSEPT CSPDIFT Z TFÁBMFT TF QVTJFSPO FO UP EBT MBT DJDMPQJTUBT 4J OP GVFSB OFHPDJP IVCJFSBO TJNQMFNFOUF FT UBCMFDJEP SFEFT EF DBMMFT QBSB DJSDVMBDJÂO FYDMVTJ WB EF DJDMJTUBT N²T BNQMJBT TFHVSBT Z FDPMÂHJDBT Z NVDIP QFSP NVDIP N²T G²DJMFT EF TFÁBMJ[BS RVF MBT UPSUVPTBT DJDMPW½BT TJ OP NF DSFF TJNQMFNFOUF EFTF VOB WVFMUB QPS MB BWFOJEB -B 1B[ EPOEF MB ÈOJ DB QSFHVOUB TFOTBUB RVF QPEFNPT IBDFSOPT FT QPS RV¹ OP FTU² FO MB D²SDFM FM EJTFÁBEPS EF FTF EFTBT USF Z OPT DPOUFTUBS²O QPS MB HMPSJPTB JNQVOJEBE !DBSMPTNPSTB


1~(*/" #

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

%PNJOHP EF NBZP EF

&/53&7*45" 1PS +PSHF 1¹SF[

&

M FTDSJUPS FTQBÁPM +BWJFS $FSDBT QV CMJDÂ FTUF EFOUSP EFM TFMMP FEJ UPSJBM -JUFSBUVSB )PVTF .POEBEP SJ TV OPWFMB i&M NPOBSDB EF MBT TPNCSBTw EPOEF TF SFNPOUB EF OVFWP B MB HVFSSB DJWJM FTQBÁPMB QB SB DPOUBS MB IJTUPSJB GBNJMJBS %VSBOUF MB OPWFMB FM OBSSBEPS FO QSJNFSB QFSTPOB SFBMJ[B MB JOWFTUJHB DJÂO BMSFEFEPS EF .BOVFM .FOB GBNJMJBS EF $FS DBT RVF NVSJÂ FO FM DPOGMJDUP DJWJM FOUSF SFQVCMJDB OPT Z GSBORVJTUBT i&TUF MJCSP IB FTUBEP FO NJ DBCF[B TJFNQSF TÂMP BIPSB IF QPEJEP FTDSJCJSMPw DPNFOUÂ +BWJFS FO FOUSFWJTUB "ETDSJUP B MB DBVTB RVF SFTVMUÂ HBOBEPSB F JNQVTP MB EJDUBEVSB EF 'SBODP DPO FM QSFUFYUP EF TV QBSJFOUF BOBMJ[B FM QB QFM EFM QVFCMP FO MBT EJTQVUBT QPM½UJDBT OP FO VOB SFBMJEBE EF CMBODPT Z OFHSPT TJOP DPO NBUJDFT {$ÎNP EFDJEJÎ SFTDBUBS MB IJTUPSJB GBNJMJBS /P T¹ TJ TFB iEFDJTJÂOw .F QFSTJHVF FTUB IJT UPSJB EFTEF RVF UFOHP VTP EF SB[ÂO &T MB IJTUPSJB GBNJMJBS RVF TJFNQSF FTDVDI¹ 1FOT¹ RVF DPOUFO½B VO MJCSP QFSP IBDFSMP FSB DPNQMJDBEP &O QBSUF NF SFTJTU½B B FTDSJCJSMP OP TBC½B DÂNP NF EBCB NJF EP )BC½B VO QSPCMFNB GVOEBNFOUBM DÂNP DPOWFS UJS FO MJUFSBUVSB BMHP UBO QFSTPOBMy &M DIJDP FM QSP UBHPOJTUB EFM MJCSP TJNCPMJ[B VO QPDP MB QFPS IFSFODJB EF MB GBNJMJB MB EF WJPMFODJB -PT FTQBÁP MFT MPT NFYJDBOPT UPEPT DBSHBNPT VOB IFSFODJB EF WJPMFODJB &SB UBNCJ¹O VO FSSPS QPM½UJDP NJ GB NJMJB IBC½B TJEP GSBORVJTUB 4JNCPMJ[BCB MB BEIF TJÂO B VOB DBVTB FRVJWPDBEB 5FO½B DJFSUP SFDIB[P B DPOUBS FTP OP TBC½B RV¹ IBC½BO IFDIP EVSBOUF MB HVFSSB 1FSP FM MJCSP OP IBCMB EF MB HVFSSB DJWJM TJ OP EF FTB IFSFODJB RVF OP TJFNQSF DPOPDFNPT QPS RVF MPT BOUFQBTBEPT OP IBCMBO EF FMMB 5JFOFO EF SFDIP B DBMMBSTF QFSP UFOFNPT MB PCMJHBDJÂO EF TBCFS TJ DPOPDFNPT Z FOUFOEFNPT MB IFSFODJB QP EFNPT NBOFKBSMB TJ OP FMMB OPT NBOFKBy "M IBCMBS EFM QFPS QBTBEP FM N²T EVSP EF WJPMFODJB Z HVFSSB MBT QFSTPOBT UFOEFNPT B FEVMDPSBSMP FONBTDBSBS MP &TP IBD½B FM IPNCSF FO NJ OPWFMB BOUFSJPS TF JO WFOUB VOB IJTUPSJB EF I¹SPF W½DUJNB EF MPT OB[JT QBSB PDVMUBS VOB WJEB NFEJPDSF P TÂMP NJTFSBCMF &O MB OPWFMB QMBUJDB DÎNP FSB MB WJEB DPUJ EJBOB FO MPT QVFCMPT QFRVFÍPT EF &TQBÍB EFTDP OFDUBEPT EF MB QPMÅUJDB VOB EF MBT SB[POFT QPS MBT RVF TF TVNBCBO BM CBOEP FSSÎOFP

+"7*&3 $&3$"4 &4$3*503 $PO FTP JOUFOUP FOUFOEFS QPS RV¹ MB GBNJMJB TF FRVJWPDÂ &T MB PCMJHBDJÂO EFM FTDSJUPS FOUFO EFS OP KVTUJGJDBS 4PZ VO QPDP BOUJDVBEP QJFOTP RVF MB MJUFSBUVSB FT ÈUJM TJFNQSF Z DVBOEP OP TF QSP QPOHB TFS ÈUJM 4IBLFTQFBSF %PTUPZFWTLJ OPT QFS NJUFO FOUFOEFS NVDIBT DPTBT 1FSP TJO RVF TF DPO WJFSUB FO QFEBHPH½B Z QSPQBHBOEB DVBOEP TVDFEF TF BDBCÂ ZB OP FT MJUFSBUVSB 5SBUP EF DPNQSFOEFS B USBW¹T EF MB IJTUPSJB NJOÈTDVMB EF VO QVFCMP Z DPO FTP DPOUBS MB IJTUPSJB EFM QB½T FOUFSP Z FYQMJDBS QPS RV¹ DJFSUB HFOUF UPNÂ EFDJTJPOFT FRVJWPDBEBT "MHVOPT DPO CVFOBT JOUFODJPOFT DSFP RVF NJ GB NJMJB 1PS EFCBKP EFM MJCSP IBZ VOB EJTUJODJÂO GVO EBNFOUBM MB SB[ÂO QPM½UJDB Z MB SB[ÂO NPSBM 7BMF QBSB UPEPT MPT DPOGMJDUPT .BOVFM .FOB OP UFO½B MB SB[ÂO QPM½UJDB FTB MB UFO½BO MPT SFQVCMJDBOPT QBSB N½ OP IBZ EVEB FO FTUBMMB VO HPMQF EF &TUB EP DPOUSB VOB SFQÈCMJDB EFNPDS²UJDB 2VJFOFT OP UFO½BO MB SB[ÂO QPM½UJDB FSBO MPT GSBORVJTUBT &TP OP TJHOJGJDB RVF UPEPT MPT SFQVCMJDBOPT FSBO FYDF MFOUFT QFSTPOBT IBC½B DBOBMMBT -FT MMBNP iDBOB MMBT EF MBT CVFOBT DBVTBTw BTFTJOBSPO B N²T EF TJF UF NJM DVSBT Z NPOKBT B TBOHSF GS½B 1PM½UJDBNFOUF FTUBCBO EFM MBEP DPSSFDUP QFSP NPSBMNFOUF FSBO VOPT DBOBMMBT /P FSBO QFSTPOBT EFDFOUFT " MB JO WFSTB PDVSSJÂ UBNCJ¹O HFOUF RVF TF FRVJWPDÂ QP M½UJDBNFOUF QFSP RVF MP IJ[P EF CVFOB GF RVF BQPT UÂ QPS VOB DBVTB FRVJWPDBEB FO FTB FODSVDJKBEB FO MB RVF TF FODPOUSÂ FM QB½T $PO MBT NFKPSFT JOUFO DJPOFT WJSUVEFT B CBTF EF JEFBMJTNP EF DPSBKF Z EF HFOFSPTJEBE TF QVFEFO DPOTUSVJS JOGJFSOPT &OUSF RVJFOFT DPOTUSVZFSPO FM JOGJFSOP EFM FTUBMJOJTNP IVCP RVJFOFT MP IJDJFSPO QPS JEFBMJTNP DSFZFOEP RVF JCBO B FNBODJQBS BM NVOEP DSFZFOEP RVF DPOTUSV½BO FM QBSB½TP IJDJFSPO VO JOGJFSOP &M NVO EP FTU² MMFOP EF DIJDPT DPNP .BOVFM .FOB DIB NBRVJUPT TPO VOPT OJÁPT DVBOEP WBO B MB HVFSSB BÁPT TPO MPT OJÁPT MPT RVF IBDFO MBT HVFSSBT QPS FTP MB QPSUBEB 4JFNQSF IB TJEP BT½ MPT BEVMUPT TPO MPT RVF MPT NBOEBNPT .BOVFM .FOB FT VOP N²T EF NJMMPOFT RVF WBO B MB HVFSSB FOHBÁBEPT QPS MPT BEVMUPT JEFBMJ[BNPT MB HVFSSB QFOTBOEP RVF TPO ÈUJMFT RVF BMM½ MPT IPNCSFT EBO MP NFKPS EF T½ NJTNPT RVF TPO OPCMFT 1FSP EFTDVCSFO RVF MB HVFSSB FT MP RVF FT WJPMFODJB TJO TFOUJEP BGMJDDJÂO UPUBM " MP MBSHP EFM MJCSP SFJUFSB RVF OP FT VO MJ UFSBUP RVF OP IBZ GJDDJÎO OJ GBCVMBDJÎO 4PO EPT DPTBT QPS VO MBEP FM NFDBOJTNP C² TJDP EF MB OPWFMB DPOTJTUF FO DSFBS VO KVFHP DPO TVT SFHMBT EFUFSNJOBEBT /P IBZ EPT OPWFMBT DPO MBT

NJTNBT SFHMBT TJ MBT IBZ TPO NBMBT 6OB EF MBT SF HMBT EFM MJCSP TPO MPT EPT OBSSBEPSFT VOP FT IJTUP SJBEPS RVF SFDPOTUSVZF DPO MB NBZPS FYBDUJUVE TJO JOWFOUBS MB IJTUPSJB EF .BOVFM .FOB EFM QVFCMP Z MB GBNJMJB &T DPNP VO OPUBSJP RVF SFDVSSF B EPDV NFOUPT RVF IBCMB EF N½ FO UFSDFSB QFSTPOB &T VO OBSSBEPS PCKFUJWP EJTUBODJBEP BT¹QUJDP &M PUSP OBSSBEPS MMBNBEP +BWJFS $FSDBT OBSSB FM QSPQJP QSPDFTP EF IBDFS MB OPWFMB 4JFNQSF IF EJDIP RVF FTDSJCP OPWFMBT EF BWFOUVSBT TPCSF MB BWFOUVSB EF FTDSJCJS VOB OPWFMB "EFN²T EF VOB IJTUPSJB DVFO UP FM QSPQJP QSPDFTP EF OBSSBSMB B WFDFT UBO P N²T JNQPSUBOUF RVF MB PUSB IJTUPSJB {2VÀ PQJOB EF MB FUJRVFUB iBVUPGJDDJÎOw TF TJFOUF MJHBEP BM HÀOFSP /P OP NF TJFOUP MJHBEP .F BTPDJBO B FMMB QFSP UPEB GJDDJÂO FT BVUPGJDDJÂO TF QBSUF EF MB QSP QJB FYQFSJFODJB &M 2VJKPUF MP FT UPEBT MBT OPWFMBT MP TPO UPEPT MPT FTDSJUPSFT QBSUFO EF TV WJEB MP RVF DPOPDFO TVFÁBO &OUJFOEP RVF NF BTPDJFO FNQF D¹ B JODMVJSNF FO MPT MJCSPT FO BMHVOPT QFSP MMFHV¹ QPS NJ DVFOUB EF NBOFSB JOTUJOUJWB /P FT BMHP RVF NF JOUFSFTF OJ RVF TJSWB QBSB FOUFO EFS NJT MJCSPT OJ MB MFDUVSB FO HFOFSBM FT VOB FUJRVFUB VO QPDP JOÈUJM :P NF TJFOUP WJODVMBEP B MB OPWFMB DPNP H¹OFSP FT VO H¹OFSP JONFO TBNFOUF SJDP FT VO JOTUSVNFOUP EF DPOPDJNJFO UP DBCF UPEP $PNP EFD½B ,VOEFSB TÂMP SFTQPO EP BOUF $FSWBOUFT FT FM ÈOJDP RVF QPES½B QFEJSOPT DVFOUBT $VBOEP MMFHVFNPT BM DJFMP EF MPT OPWFMJTUBT OPT EJS² i{5È IBT VTBEP FTUP MJCSF NFOUF P OP {$V²OUBT MJCFSUBEFT UF IBT UPNBEP w "TQJSP B JS BM DJFMP FTUBS DPO $FSWBOUFT Z %PTUP ZFWTLJ 1FSP FO TFSJP MB BVUPGJDDJÂO OP NF TJSWF QBSB FOUFOEFS OBEB "DUVBMNFOUF TF FTUµ BEBQUBOEP BM DJOF PUSB OPWFMB TVZB i&M NÎWJMw 4F UJUVMBS² i&M BVUPSwy NF QJEJFSPO QFSNJ TP QBSB DBNCJBS FM U½UVMP OVODB IBC½B WJTUP VO DBN CJP UBO KVTUJGJDBEP "IPSB iFM NÂWJMw TJHOJGJDB FM UF M¹GPOP 5FOHP MBT NFKPSFT QFSTQFDUJWBT &T VO EJSFDUPS OP NVZ DPOPDJEP .BOVFM .BSU½O $VFO DB FO &TQBÁB TF MF DPOPDF FO D½SDVMPT SFTUSJOHJ EPT QFSP IB IFDIP QFM½DVMBT NVZ CVFOBT NF HVT UB NVDIP "TJTU½ B VO E½B EF SPEBKF NF QBSFDJÂ JODSF½CMF $PNP EJKP VO FTDSJUPS JSMBOE¹T DVBOEP BMHVJFO TF JOUFSFTB QPS NJT MJCSPT QBSB IBDFS VOB QFM½DVMB QJFSEP FM TFOUJEP DS½UJDP .F QBTB MP NJT NP )BDFS VOB QFM½DVMB FT IBDFS VOB MFDUVSB IBZ JOUFMJHFODJB VO JOUFS¹T SFBM

LH;K> >E :NMHK +BWJFS $FSDBT OBDJ° FO FO *CBIFSOBOEP FO &YUSFNBEVSB &TQB®B $PNFO[° B QVCMJDBS FO TV OPWFMB Â4PMEBEPT EF 4BMBNJOBÍ GVF BEBQ UBEB BM DJOF QPS %BWJE 5SVFCB )B FTDSJUP OVFWF OPWF MBT EPT MJCSPT EF FOTBZP Z TFJT MJCSPT EF EJWFSTPT H¦OFSPT FO USFWJTUBT DVFOUP DS°OJDB DP SSFTQPOEFODJB

$035&4¶"

SB FO UPSOP B JOWFTUJHBDJØO HJ -B " &/ . - 6& DPOGMJDUP DJWJM FO $0.0 ."/ S RVF NVSJØ FO FM JUP DS FT FM S E JMJB FTUF GBN SFQVCMJDBOPT USF GSBORVJTUBT Z

-B 3FQ¶CMJDB EF MB NFNPSJB

53"/4'03."$*»/ &M FTDSJUPS MPHSB DPO TV OP WFMB DPOWFSUJS MB MJUFSBUV SB FO BMHP NVZ QFSTPOBM

8* ", "Ê Ê 1 " Õ iÀ Ê i > >ÀÞ %FTEF MVFHP RVF OP " QFTBS EF RVF iIJKP EF UJHSF UJHSJMMPw P EF iUBM QBMP UBM BTUJMMBw OP QPEFNPT DBFS FO VO EFUFSNJOJTNP SFEVD DJPOJTUB Z DPOEFOBS B MPT IJKPT QPS MP RVF MPT QBESFT IFNPT IF DIP DPO OVFTUSBT WJEBT 4J CJFO FT DJFSUP RVF WBNPT B JOGMVJS DPO OVFTUSPT HFOFT Z OVFT USP FTUJMP Z DBMJEBE EF WJEB FO TV DSFDJNJFOUP Z EFTFNQFÁP /P EFCF NPT EF DPODMVJS RVF TPNPT MB DBVTB ÈOJDB EF MP RVF FMMPT RVJFSBO IBDFS DPO TV WJEB &T NVZ JNQPSUBOUF UPNBS DPODJFODJB EF RVF OVFTUSPT I²CJUPT CVFOPT P NBMPT T½ JOGMVZFO FO FMMPT 1FSP OP OFDFTBSJBNFOUF TPO EFUFS

·*>`ÀiÊ>` VÌ ]Ê Ê >` VÌ ¶ NJOBOUFT QBSB RVF FMMPT TF DPNQPSUFO EF MB NBOFSB FO RVF OPTPUSPT OP RVFSFNPT 1POHBNPT FO DMBSP BMHP FEVDBS FT BZVEBS B DSFDFS OP NBOJQV MBS OJ DPOUSPMBS B MPT IJKPT &T QSPQPSDJPOBSMFT UPEP MP OFDFTBSJP QBSB RVF UFOHBO VO DSFDJNJFOUP BEFDVBEP Z TBOP &T IBDFSMFT UPEP FM CJFO QPTJCMF Z NPTUSBSMFT FM NBM RVF FYJTUF Z FOTFÁBSMFT DÂNP BMFKBSTF EF ¹M Z FO TV DBTP TVQFSBSMP $JFSUBNFOUF IBZ N²T QPTJCJMJEBEFT EF RVF VO IJKP TFB BEJDUP TJ BMHVOP EF MPT EPT QBESFT MP FT QVFT BMM½ FTU² QSFTFOUF FO FM BNCJFOUF MB QSPQFOTJÂO B SFQFUJS MPT NJTNPT QBUSPOFT 6OB GBNJMJB EF GVNBEPSFT P

&- */'03."%03

EF CFCFEPSFT FT N²T G²DJM RVF QSPWPRVF FM I²CJUP EF CFCFS Z GVNBS QVFT UPEP QBSFDF NVZ GBNJMJBS QPSRVF BT½ MP IBO WJWJEP EFTEF QFRVFÁPT &T BT½ RVF B MPT BEVMUPT OPT DPSSFTQPOEF USBUBS EF USBTNJUJSMFT B FMMPT MP RVF OPTPUSPT IFNPT MPHSBEP SFBMJ[BS EF MP RVF IFNPT TVQF SBEP Z DPOTUSVJEP EF OVFTUSPT BDJFSUPT Z DBQBDJEBE EF MVDIB EF MPT BWBO DFT RVF IFNPT BMDBO[BEP B MP MBSHP EF OVFTUSBT WJEBT : QPS OJOHÈO NPUJWP USBUBS EF DBTUJHBS P EF SFHBÁBS B MPT IJKPT QPS BMHP RVF OP IFNPT QPEJEP OPTPUSPT TVQFSBS &T EFDJS OP USBUFT EF JNQFEJS RVF VO IJKP TFB CFCFEPS TJ OP FSFT DBQB[ EF FWJUBSMP 1BESF CF CFEPS DBTJ EF TFHVSP IBCS² VO IJKP CFCFEPS "VORVF FT NVZ DJFSUP RVF IBZ NVDIBT Z IPOSPTBT FYDFQDJPOFT %F MP RVF TF USBUB FT EF BTVNJS MB SFTQPOTBCJMJEBE EF FOTF ÁBS MP NFKPS EF UJ Z EF BZVEBS B RVF BQSFOEBO B TVQFSBS Z B DPSSF HJS MP QFPS EF UJ "OUFT EF DPSSFHJSMP P FWJUBSMP FO FMMPT DPNJFO[B QPS IB DFSMP DPOUJHP


%PNJOHP EF NBZP EF

1~(*/" #

&- */'03."%03

"/«-*4*4

&/3*26& 50644"*/5 "/"-*45" 10-¶5*$0 *-6453"$*»/ t + -»1&;

*OWPMVDJ¯O

-B EFNPDSBDJB NFYJDBOB BHPOJ[B GSFOUF FM DMJFOUFMJTNP MB DPSSVQDJªO TJTU NJDB Z MB WJPMFODJB

-

B NPEFSOJEBE TF GJODÂ TPCSF MB GF FO FM QSPHSFTP -B NJSBEB MJOFBM EF MB IJTUPSJB &M GVUVSP TFS² NFKPS RVF FM QSFTFOUF TF FONBSDÂ DPNP MB SFHMB EF PSP -B IJT UPSJB DBCBMHB JOFYPSBCMFNFOUF IBDJB FM QSPHSFTP Z OP TF BENJUFO SFHSFTJPOFT P JOWPMVDJPOFT &M DBQJUBMJT NP Z MBT GVFS[BT EFM NFSDBEP MVFHP EF EFSSPUBS B TV FOFNJHP DPNV OJTUB OPT BTFHVSBO VO GVUVSP EF QSPTQFSJEBE DPOTVNP Z QB[ -B EF NPDSBDJB FM TJTUFNB RVF QFSNJUF RVF MPT DJVEBEBOPT FMJKBO Z DPOUSPMFO B TV (PCJFSOP TF FTQBSDJS² QPS UPEP FM NVOEP /BEB QVFEF TBMJS NBM $PO MB NJTNB NJSBEB FO .¹YJDP MF DPOGJBNPT B MB EFNPDSBDJB SF TPMWFS UPEPT OVFTUSPT QSPCMFNBT $PO MB EFNPDSBDJB MJCFSBM TFS½BNPT N²T HVBQPT BMUPT Z BUSBDUJWPT %F VO QMVNB[P Z TJO MB N²T N½OJNB EV EB MPT NFYJDBOPT FOUSBS½BNPT FO FM QSJNFS NVOEP DPNP USJQVMBOUFT FOUVTJBTUBT EF MB HMPCBMJ[BDJÂO Z EF VO OVFWP QB½T GJODBEP FO MBT MJCFS UBEFT Z MB QSPTQFSJEBE /VFTUSP QBTBEP RVFEBS½B FOUFSSBEP &M DMJFOUF MJTNP EFTBQBSFDFS½B BOUF MB SFGPSNB JOFWJUBCMF EFM TJTUFNB QPM½UJDP &M DPSQPSBUJWJTNP DPOWFSUJEP FO VO TJNQMF SFEVDUP EFM QBTBEP -PT QBSUJ EPT QPM½UJDPT TFS½BO WFI½DVMPT JEFBMFT QBSB QPUFODJBS MB QBSUJDJQBDJÂO EF MPT DJVEBEBOPT Z MB DPSSVQDJÂO TFS½B EFSSPUBEB QPS MB USBTQBSFODJB Z MB SFOEJDJÂO EF DVFOUBT -B EFNPDSBDJB DPNP GJO UFMFPMÂHJDP EF VO MBSHP DBNJOP RVF DPNFO[Â DPO MB SFGPSNB QPM½UJDB EF /BEJF TF QSFHVOUÂ QBSBGSBTFBOEP B 3PCFSU %BIM : EFTQV¹T EF MB SFWPMVDJÂO {RV¹ : BQMJDBEP BM DBTP NFYJDBOP Z DVBOEP TFBNPT

VOB EFNPDSBDJB {RV¹ {2V¹ EFCFNPT IBDFS FM E½B TJHVJFOUF -B JODJQJFOUF EFNPDSBDJB NFYJDBOB WJWF VOB JOWPMVDJÂO JOOFHB CMF -BT EFGPSNBDJPOFT DPO MBT RVF OBDJÂ Z MBT FTQJOJMMBT RVF EFTB SSPMMÂ FO TV QVCFSUBE IPZ TPO DJDBUSJDFT -PT WJDJPT RVF IFSFEÂ EFM WJFKP S¹HJNFO EFWJOJFSPO FO QS²DUJDBT OPSNBMJ[BEBT &T DPNP TJ MP RVF OPT FTDBOEBMJ[BCB TPDJBMNFOUF FO FM FO MB BDUVBMJEBE TFB QBSUF EFM QBJTBKF DPNÈO EFM TJTUFNB QPM½UJDP NFYJDBOP -B EFNPDSB DJB NFYJDBOB FT VO TJTUFNB RVF BQFTUB B PCTPMFUP Z WFUVTUP DVBOEP BQFOBT BMDBO[B MB NBZPS½B EF FEBE &M DPODFQUP NJTNP EF EFNPDSB DJB RVF FO FM QBTBEP EFTFODBEFOBCB QBTJPOFT IPZ MVDF WBD½P F JO TJHOJGJDBOUF 'VF MB TPMVDJÂO EF UPEP EVSBOUF MB USBOTJDJÂO Z IPZ QB SFDF RVF FT MB TPMVDJÂO EF OBEB &M &TUBEP EF .¹YJDP FT FM MBCPSBUPSJP RVF TJNCPMJ[B MB DSJTJT DPO NBZPS OJUJEF[ 7FNPT FO FM FDPTJTUFNB NFYJRVFOTF UPEBT MBT QS²D UJDBT RVF DPOTJEFS²CBNPT DPOEFOBCMFT Z FTDBOEBMPTBT IBTUB IBDF BM HVOPT BÁPT -PT QSPHSBNBT TPDJBMFT TPO VUJMJ[BEPT QBSB DPPQUBS MB WPMVOUBE QPM½UJDB EF MPT NFYJRVFOTFT N²T QPCSFT -PT TFDSFUBSJPT EF &TUBEP JOUFHSBOUFT EFM (PCJFSOP 'FEFSBM TF MB WJWFO IBDJFOEP DBN QBÁB -B DPNQSB EF WPUPT IB MMFHBEP BM DPMNP EF DPOEJDJPOBS BQPZPT FDPOÂNJDPT B MB WJDUPSJB EF VOP EF MPT DBOEJEBUPT "MGSFEP EFM .B[P &M DMJFOUFMJTNP FWPMVDJPOB UF EPZ QFSP T½ HBOÂ MB FMFDDJÂO UF WBNPT B EFQPTJUBS VO CPOP FO UV UBSKFUB SPTB $MJFOUFMJTNP DPO QBHBS¹T &M DPSQPSBUJWJTNP TF NVFWF B TVT BODIBT DPNP FM TJOEJDBUP NBHJTUF

SJBM RVF FO FTUB PDBTJÂO FMJHF BQPZBS B .PSFOB &M EFSSPDIF EF SF DVSTPT QÈCMJDP FT JOJNBHJOBCMF -BT BVUPSJEBEFT FMFDUPSBMFT FTUBUB MFT P OBDJPOBMFT OP NVFWFO OJ VO EFEP QBSB TBODJPOBS P DPOEFOBS VOB FMFDDJÂO B UPEBT MVDFT QPDP EFNPDS²UJDB .¹YJDP EJP QBTPT HJHBOUFTDPT QBSB UFOFS FMFDDJPOFT DPO VO KVF[ JNQBSDJBM )PZ FM */& FTU² N²T EFTHBTUBEP RVF VO ²SCJUSP EF GÈUCPM {: RV¹ EFDJS EF MB EFNPDSBDJB JOUFSOB EF MPT QBSUJEPT QPM½UJDPT )PZ MPT QBSUJEPT FMJHFO B TVT DBOEJEBUPT DPO FM iEFEP EJWJOPw EFM DBDJRVF EF UVSOP Z OP WFNPT RVF OBEJF TF FTDBOEBMJDF &O .¹YJDP QBSFD½B RVF FOUFOE½BNPT RVF FSB DPOEFOBCMF WFOEFS UV WPMVOUBE QPM½UJDB QPS VO CJMMFUF EF EPTDJFOUPT Z IPZ ZB OBEJF TF SVCPSJ[B BM WFS MB DPNQSB EF WPUP QPS EPRVJFS -B DBMJEBE EF OVFTUSB EFNPDSBDJB SFUSPDFEF GSFO UF B MB JOEJGFSFODJB QPQVMBS $PSSFNPT VO HSBWF SJFTHP FO FTUF QB½T MMBNBSMF EFNPDSBDJB B BMHP RVF OP FT -MBNBSMF EFNPDSBDJB B MB DPNQSB NBTJWB EF WPUPT -MBNBSMF EFNPDSBDJB B MB FMFDDJÂO EF FTUBEP -MBNBSMF EFNPDSBDJB B MB JOGJMUSBDJÂO EF EJOFSP JM½DJUP FO MBT FMFDDJPOFT -MBNBSMF EFNPDSB DJB BM SFQBSUP EF UBSKFUBT EF E¹CJUP DPNP JOTUSVNFOUP EF DPNQSB EF WPUP -MBNBSMF EFNPDSBDJB B MB JOUFSWFODJÂO FTQVSJB EF MPT TJOEJDB UPT B GBWPS EF MPT JOUFSFTFT EF TV DÈQVMB HSFNJBM -MBNBSMF EFNPDSB DJB B MB DPNQSB NBTJWB EF NFEJPT EF DPNVOJDBDJÂO -MBNBSMF EFNP DSBDJB B VO TJTUFNB BUSBWFTBEP QPS MB WJPMFODJB Z FM BTFTJOBUP EF QFSJPEJTUBT .¹YJDP OFDFTJUB SFTDBUBS TV EFNPDSBDJB

, -Ê Ê6 6 ,

ÕÞÊ >ÀÌ>Ã

, Ã>Ê ÌiÀ .BS½B 3PESJHP GVF MB QSJNFSB DPNQPTJUPSB FTQBÁP MB &TUF BÁP TF DVNQMFO EF TV NVFSUF 4V PMWJEP DPJODJEF DPO FM EF UBOUBT PUSBT NVKFSFT CSJMMBOUFT &M QSÂYJNP EF EJDJFNCSF TF DVNQMJS²O BÁPT EF MB NVFSUF EF .BS½B 3PESJHP FO FM FYJMJP 1VFS UP 3JDP Z FO FM N²T DPNQMFUP PMWJEP $PNP EJDF MB FTDSJUPSB JUBMJBOB %BDJB .BSBJOJ MBT NVKFSFT DVBO EP NVFSFO MP IBDFO QBSB TJFNQSF 4J ZB MB OJOHV OFBSPO FO WJEB USBT TV GBMMFDJNJFOUP MB TFTHBEB EFTNFNPSJB QBUSJBSDBM BDBCÂ QPS TFQVMUBSMB &M EJSFDUPS EF PSRVFTUB +PT¹ -VJT 5FNFT MMFWB BÁPT DMBNBOEP FO FM WBD½P F JOUFOUBOEP SFDVQFSBS FM QBUSJNPOJP NVTJDBM FTQBÁPM PMWJEBEP Z FO FTQF DJBM FM EF .BS½B 3PESJHP )BDF VO QBS EF NFTFT EJP VO DPODJFSUP NBSBWJMMPTP FO FM UFBUSP .POVNFOUBM EF .BESJE FO EPOEF QVEJNPT FTDVDIBS MBT 3JNBT JOGBOUJMFT EF .BS½B VOBT DBODJPOFT CFMM½TJNBT EF MJDBEBT Z FTUSFNFDFEPSBT Z BIPSB FTU² IBDJFOEP VO QFRVFÁP EPDVNFOUBM TPCSF FMMB .BS½B 3PESJ HP UFO½B VO UBMFOUP FYDFQDJPOBM $PN QVTP TJOGPO½BT NÈTJDB FTD¹OJDB QJF[BT QBSB QJB OP FSB UBNCJ¹O QJBOJTUB ÂQFSBTy EF IFDIP GVF MB QSJNFSB NVKFS FO FTUSFOBS VOB ÂQFSB FO &TQB ÁB #FDRVFSJBOB Z UBNCJ¹O MB QSJNFSB DPN QPTJUPSB SFDPOPDJEB DPNP UBM RVF BEFN²T WJWJÂ EF

TV USBCBKP 1SBDUJDÂ MB EPDFODJB Z WPMDÂ TVT NBZP SFT FTGVFS[PT FO EJGVOEJS MB NÈTJDB DM²TJDB FOUSF MBT DMBTFT IVNJMEFT 'VF HSBOEF Z GVF HFOJBM Z MB UF OFNPT BSSVNCBEB /P FT MB ÈOJDB %F IFDIP FT MB UÂOJDB IBCJUVBM DPO MBT NVKFSFT :B NFODJPO¹ B MB JOWFTUJHBEPSB EF MB 6OJWFSTJEBE EF 7BMFODJB "OB -ÂQF[ /BWBKBT RVF IB EFNPTUSBEP RVF EF UPEPT MPT OPNCSFT RVF TF FTUVEJBO FO MB &40 TÂMP IBZ VO EF NVKF SFT Z RVF BEFN²T MMFWB PDIP BÁPT QSFQBSBOEP VO BSDIJWP IJTUÂSJDP EF GJMÂTPGBT BSUJTUBT DJFOU½GJDBT P M½EFSFT TPDJBMFT RVF IJDJFSPO DPTBT FYUSBPSEJOB SJBT QFSP B MBT RVF FM NBDIJTNP TF BQSFTVSÂ B CP SSBS EF MPT BOBMFT 4JO JS N²T MFKPT .BS½B 3PESJHP QFSUFOFDJÂ B VOB BTPDJBDJÂO NBSBWJMMPTB Z UBNCJ¹O NVZ QPDP DPOPDJEB FM -ZDFVN $MVC 'FNFOJOP DSFBEP QPS .BS½B EF .BF[UV FO FO .BESJE %VSÂ IBTUB Z BHSVQÂ B VOBT NVKFSFT GPSNJEBCMFT MP NFKPS EF OVFTUSB TPDJFEBE FTDSJUPSBT KVSJTUBT BS UJTUBT QFOTBEPSBT DPNP $MBSB $BNQPBNPS .B S½B -FK²SSBHB 3PTB $IBDFM .BS½B ;BNCSBOP 7JD UPSJB ,FOU .BSVKB .BMMPy 5PEBT FMMBT UBO DPNQFUFOUFT P N²T RVF MPT IPNCSFT EF MB ¹QPDB Z MVDIBOEP QPS VO QSPZFDUP EF NPEFSOJ[BDJÂO TP DJBM RVF USVODÂ MB HVFSSB ¬MUJNBNFOUF IBO FNQF

[BEP B FOHMPCBSMBT EFOUSP EF MB HFOFSBDJÂO EFM FO VO U½NJEP JOUFOUP EF PUPSHBSMFT FM QSPUBHPOJT NP RVF NFSFDFO 1FSP MB FTDSJUPSB -BVSB 'SFJYBT EF MB BTPDJBDJÂO GFNJOJTUB $M²TJDBT Z .PEFSOBT QSFGJFSF DPO CVFO DSJUFSJP EFGJOJSMBT DPNP MB HFOF SBDJÂO EFM FM BÁP EF GVOEBDJÂO EFM -ZDFVN ZB RVF FO FM BDUP RVF EB OPNCSF B MB HFOFSBDJÂO EFM FM IPNFOBKF B (ÂOHPSB FO 4FWJMMB FO EJDJFN CSF EF TÂMP QBSUJDJQBSPO WBSPOFT EFOUSP EF MB UÂOJDB TFYJTUB IBCJUVBM : FT RVF UFOHP MB TFOTBDJÂO EF RVF MBT NVKF SFT EFM NVOEP FNQF[BNPT B FTUBS IBSUBT UFSSJCMF NFOUF IBSUBT EFM QBUFSOBMJTNP DPO FM RVF B SFHB ÁBEJFOUFT MB TPDJFEBE OPT WB BDFQUBOEP 4F IBCMB EF DVPUBT Z EF MB GBMUB EF NVKFSFT DPNP TJ BDDFEJ¹ SBNPT B MPT QVFTUPT Z B MB WJEB QMFOB DBTJ QPS DBSJ EBE QPSRVF iMBT QPCSFT UBNCJ¹O UJFOFO RVF FTUBSw Z OP QPSRVF OPT MP NFSFDFNPT UBOUP P QSPCBCMF NFOUF N²T RVF NVDIPT &M QSFKVJDJP TFYJTUB FO FM RVF OPT FEVDBO B UPEPT IBDF RVF UFOEBNPT B WB MPSBS N²T B MPT WBSPOFT %JWFSTPT FTUVEJPT EF NVFTUSBO FTB DFHVFSB TFMFDUJWB DPNP FM RVF IJ[P MB 6OJWFSTJEBE EF :BMF FO DVBOEP DPHJÂ MPT QSPZFDUPT EF VO DIJDP Z VOB DIJDB RVF BTQJSBCBO B VO QVFTUP EF MBCPSBUPSJP Z MPT FOWJÂ QBSB TV DBMJGJ DBDJÂO B DBUFES²UJDPT IPNCSFT Z NVKFSFT &M

WBSÂO RV¹ DBTVBMJEBE TBDÂ FO UPEP NFKPS OPUB QF SP SFTVMUB RVF MPT EPT QSPZFDUPT FSBO FYBDUBNFOUF JHVBMFT TBMWP RVF VOP MP GJSNBCB +PIO Z PUSP +FO OJGFS MB NJUBE EF MPT DBUFES²UJDPT MFZÂ FM EF ¹M Z MB PUSB NJUBE FM EF FMMB %F NBOFSB RVF OP OP QFEJNPT RVF OPT EFKFO QBTBS QPSRVF FTUBNPT EJTDSJNJOBEBT Z UJFOFO RVF BZVEBSOPT 1FEJNPT UBO TÂMP RVF TF OPT KV[HVF FYBDUBNFOUF JHVBM RVF TF KV[HB B MPT IPNCSFT MP DVBM IBTUB BIPSB OP IB TVDFEJEP : QBSB FMMP QSJNF SP UFOFNPT RVF DPOWFODFSOPT B OPTPUSBT NJTNBT EF RVF WBMFNPT UBOUP P N²T RVF FMMPT ZB EJHP RVF FM NBDIJTNP UBNCJ¹O JOUPYJDB B MBT NVKFSFT Z MVF HP BM[BS EF VOB WF[ MB WP[ Z FNQF[BS B QBUFBS NF UBGÂSJDBNFOUF UPEBT MBT QVFSUBT Ï 304" .0/5&30 &%*$*0/&4 &- 1"¡4 4 - 5PEPT MPT EFSFDIPT SFTFSWBEPT


1~(*/" #

/"Ê /",

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

%PNJOHP EF NBZP EF

1"6-" )"8,*/4 &4$3*503" i&TDSJUP FO FM BHVBw 1MBOFUB

6O UISJMMFS QFSUVSCBEPS 1MBOFUB DPNQBSUF VO GSBHNFOUP EFM N T SFDJFOUF MJCSP EF 1BVMB )BXLJOT DPO MPT MFDUPSFT EF &- */'03."%03

5" $035&4¶" t 1-"/&

+VMFT i2VFS½BT EFDJSNF BMHP {OP {2V¹ FSB 5FOHP MB TFOTBDJÂO EF RVF NF EFTDPOFD U¹ EF FTUB DPOWFSTBDJÂO IBDF NVDIP UJFNQP 1FSE½ MB DPODFOUSBDJÂO FTUBCB QFOTBOEP FO PUSBT DPTBT QSFPDVQ²OEP NF EF NJT BTVOUPT EFK¹ EF FTDVDIBSUF Z QFSE½ FM IJMP #VFOP BIPSB ZB UJFOFT NJ BUFODJÂO 1FSP OP QVFEP EFKBS EF QFOTBS RVF NF IF QFSEJEP BMHVOBT EF MBT DVFT UJPOFT N²T TJHOJGJDBUJWBT $VBOEP IBO WFOJEP B EFD½SNFMP NF IF FOPKBEP "M QSJODJQJP NF IF TFOUJEP BMJWJBEB QVFT DVBOEP EPT BHFOUFT EF QP MJD½B BQBSFDFO FO MB QVFSUB EF UV DBTB KVT UP DVBOEP UÈ FTU²T CVTDBOEP FM CPMFUP EFM USFO QBSB TBMJS F JS B USBCBKBS UFNFT MP QF PS )F UFNJEP RVF MF IVCJFSB TVDFEJEP BM HP B BMHVJFO RVF NF JNQPSUBSB NJT BNJ HPT NJ FY MB HFOUF DPO MB RVF USBCBKP 1FSP OP UFO½B OBEB RVF WFS DPO FMMPT NF IBO EJDIP TJOP DPOUJHP %F NPEP RVF QPS VO NPNFOUP NF IF TFOUJEP BMJWJBEB Z MVFHP NF IBO DPOUBEP MP RVF IBC½B QB TBEP MP RVF IBC½BT IFDIP RVF UF IBC½BT BSSPKBEP BM BHVB Z NF IF TFOUJEP GVSJP TB 'VSJPTB Z BTVTUBEB )F DPNFO[BEP B QFOTBS FO MP RVF UF EJS½B DVBOEP MMFHBSB QVFT TBC½B RVF MP IBC½BT IFDIP QBSB GBTUJEJBSNF QBSB NP MFTUBSNF QBSB BTVTUBSNF QBSB EFTFTUB CJMJ[BS NJ WJEB 1BSB MMBNBS NJ BUFODJÂO Z MMFWBSNF EF WVFMUB BMM½ BEPOEF RVFS½BT RVF FTUVWJFSB 1VFT BRV½ MP UJFOFT /FM ZB MP IBT DPOTFHVJEP FTUPZ FO FM MVHBS BM RVF OVODB RVJTF SFHSFTBS QBSB PDVQBS NF EF UV IJKB Z QBSB USBUBS EF QPOFS PS EFO FO FM NBMEJUP M½P RVF IBT PSHBOJ[B EP -6/&4 %& "(0450 +PTI "MHP NF IB EFTQFSUBEP $VBOEP NF IF MFWBOUBEP EF MB DBNB QBSB JS BM DVBS UP EF CBÁP IF WJTUP RVF MB QVFSUB EFM EPS NJUPSJP EF NBN² Z QBQ² FTUBCB BCJFSUB Z BM NJSBS EFOUSP NF IF EBEP DVFOUB EF RVF NBN² OP FTUBCB FO MB DBNB 1BQ² FT UBCB SPODBOEP DPNP TJFNQSF &M EFTQFS UBEPS JOEJDBCB RVF FSBO MBT )F TV QVFTUP RVF NBN² EFC½B EF IBCFS JEP B MB QMBOUB CBKB -F DVFTUB EPSNJS ¬MUJNB NFOUF MFT DVFTUB B BNCPT QFSP ¹M UPNB VOBT QBTUJMMBT UBO GVFSUFT RVF VOP QPES½B BDFSDBSTF B TV DBNB Z HSJUBSMF BM P½EP Z OP DPOTFHVJS½B EFTQFSUBSMP )F JEP B MB QMBOUB CBKB QSPDVSBOEP OP IBDFS SVJEP QPSRVF QPSMP HFOFSBM FO DJFOEF MB UFMFWJTJÂO Z TF RVFEB EPSNJEB WJFOEP FTPT BOVODJPT SFBMNFOUF BCVSSJ EPT TPCSF N²RVJOBT RVF MP BZVEBO B VOP B QFSEFS QFTP P B MJNQJBS FM TVFMP P B DPS UBS MPT WFHFUBMFT EF NVDIBT GPSNBT EJT UJOUBT 1FSP MB UFMFWJTJÂO OP FTUBCB FO DFOEJEB Z FMMB OP TF FODPOUSBCB FO FM TPG² EF NPEP RVF EFC½B EF IBCFS TBMJEP EF DBTB -P IB IFDIP BMHVOBT WFDFT 1PDBT RVF ZP TFQB BVORVF UBNQPDP QVFEP FT UBS BM UBOUP EF EÂOEF TF FODVFOUSB UPEP FM NVOEP B DBEB NPNFOUP -B QSJNFSB WF[ NF EJKP RVF TÂMP IBC½B JEP B EBS VO QBTFP QBSB BDMBSBSTF MB DBCF[B QFSP IV CP PUSB NBÁBOB FO MB RVF NF EFTQFSU¹ Z BM NJSBS QPS MB WFOUBOB WJ RVF FM DPDIF

LBGHILBL =>E EB;KH 5SBT DBVUJWBS B WFJOUF NJMMPOFT EF MFDUPSFT FO UPEP FM NVOEP DPO Â-B DIJDB EFM USFOÍ 1BVMB )BXLJOT WVFMWF DPO VOB BQBTJPOBOUF OPWF MB TPCSF MBT IJTUP SJBT RVF OPT DPOUB NPT BM SFDPSEBS OVFTUSP QBTBEP Z TV QPEFS QBSB EFT USVJSOPT 1PDPT EªBT BOUFT EF NPSJS /FM "CCPUU FTUVWP MMB NBOEP B TV IFS NBOB QFSP +VMFT OP UPN° FM UFM¦GP OP JHOPS° TVT T· QMJDBT EF BZVEB "IPSB /FM FTU NVFSUB %JDFO

RVF TBMU° BM SªP : +VMFT TF WF BSSBT USBEB BM QFRVF®P QVFCMP EF MPT WF SBOPT EF TV JOGBO DJB VO MVHBS EFM RVF DSFªB IBCFS FTDBQBEP QBSB DVJEBS EF MB BEP MFTDFOUF RVF TV IFSNBOB EFKB BUS T 1FSP +VMFT UJFOF NJFEP .V DIP NJFEP .JFEP BM BHVB NJFEP EF TVT SFDVFSEPT FO UFSSBEPT MBSHP UJFNQP BUS T Z NJFEP TPCSF UP EP EF TV DFSUF[B EF RVF /FM OVODB IBCSªB TBMUBEPÎ 1MBOFUB

OP FTUBCB FTUBDJPOBEP EPOEF TPM½B 4FHVSBNFOUF WB B EBS QBTFPT B MB PSJMMB EFM S½P P B WJTJUBS MB UVNCB EF ,B UJF :P MP IBHP EF WF[ FO DVBOEP BVORVF OP FO NJUBE EF MB OPDIF .F EBS½B NJF EP IBDFSMP FO MB PTDVSJEBE Z BEFN²T NF TFOUJS½B SBSP QVFT FTP FT MP RVF IJ[P MB QSPQJB ,BUJF TF MFWBOUÂ FO NJUBE EF MB OPDIF Z GVF BM S½P Z ZB OP WPMWJÂ "VO BT½ DPNQSFOEP QPS RV¹ MP IBDF NBN² FT MP N²T DFSDB EF FMMB RVF QVFEF FTUBS FO MB BDUVBMJEBE BQBSUF EF UBM WF[ TFOUBSTF FO TV EPSNJUPSJP PUSB DPTB RVF T¹ RVF FO PDBTJPOFT IBDF &M EPSNJUPSJP EF ,BUJF FTU² BM MBEP EFM N½P Z B WFDFT QVFEP P½S MMPSBS B NBN² .F IF TFOUBEP FO FM TPG² QBSB FTQF SBSMB QFSP EFCP EF IBCFSNF RVFEBEP EPSNJEP QPSRVF DVBOEP IF P½EP MB QVFS UB ZB IBC½B MV[ GVFSB Z BM NJSBS FM SFMPK EF MB SFQJTB EF MB DIJNFOFB IF WJTUP RVF FSBO MBT TJFUF Z DVBSUP )F P½EP DÂNP NB N² DFSSBCB MB QVFSUB USBT EF T½ Z MVFHP TVC½B DPSSJFOEP MB FTDBMFSB -B IF TFHVJEP BM QJTP EF BSSJCB Z NF IF QBSBEP EFMBOUF EF TV EPSNJUPSJP NJ SBOEP B USBW¹T EF MB QVFSUB FOUSFBCJFSUB &MMB FTUBCB EF SPEJMMBT KVOUP B MB DBNB FO FM MBEP EF QBQ² Z UFO½B FM SPTUSP FOSP KFDJEP DPNP TJ IVCJFSB FTUBEP DPSSJFOEP $PO MB SFTQJSBDJÂO KBEFBOUF Z TJO EFKBS EF TBDVEJSMF FM IPNCSP IB EJDIP "MFD EFTQJFSUB %FTQJFSUB ZB /FM "CCPUU FTU² NVFSUB -B IBO FODPOUSBEP FO FM BHVB 4F IB BSSPKBEP /P SFDVFSEP IBCFS EJDIP OBEB QF SP EFCP EF IBCFS IFDIP BMHÈO SVJEP QPS RVF FMMB TF IB WPMUFBEP IBDJB N½ Z TF IB QVFTUP EF QJF `0I +PTI IB FYDMBNBEP BDFS D²OEPTF B N½ 0I +PTI -BT M²HSJNBT IBO DPNFO[BEP B DBFS QPS TV SPTUSP Z NF IB BCSB[BEP DPO GVFS[B $VBOEP NF IF BQBSUBEP EF FMMB UPEBW½B FTUBCB MMPSBOEP QFSP UBNCJ¹O

F VOB TVQFSGJDJF FO DBMNB

BEB OJ EF OBEJF OJ TJRVJFSB E

YUP JOWJUB B OP GJBSTF EF O "(6" &M SFDPSSJEP QPS FTUF UF

TPOSF½B 0I RVFSJEP IB EJDIP 1BQ² TF IB JODPSQPSBEP FO MB DBNB GSPU²OEPTF MPT PKPT -F DVFTUB IPSSPSFT EFTQFSUBSTF EFM UPEP /P MP FOUJFOEP {$V²OEP {2VJFSFT EFDJS BOPDIF {$ÂNP MP TBCFT )F TBMJEP B DPNQSBS MFDIF IB SFT QPOEJEP FMMB 5PEP FM NVOEP FTUBCB DP NFOU²OEPMP FO MB UJFOEB -B IBO FODPO USBEP FTUB NBÁBOB 4F IB TFOUBEP FO MB

DBNB Z IB FNQF[BEP B MMPSBS PUSB WF[ 1BQ² MF IB EBEP VO BCSB[P QFSP FMMB FTUBCB NJS²OEPNF B N½ Z ¹M UFO½B VOB FYUSBÁB FYQSFTJÂO FO FM SPTUSP {"EÂOEF IBT JEP MF IF QSFHVO UBEP ZP {%ÂOEF IBT FTUBEP " DPNQSBS +PTI "DBCP EF EF DJSMP j&TU²T NJOUJFOEP IF RVFSJEP DPO UFTUBSMF )BT FTUBEP GVFSB WBSJBT IPSBT

/P IBT JEP B DPNQSBS MFDIF x )F RVFSJEP EFDJSMF FTP QFSP OP IF QPEJEP QPSRVF NJT QBESFT FTUBCBO TFOUBEPT FO MB DBNB NJ S²OEPTF FOUSF T½ Z QBSFD½BO GFMJDFT 'SBHNFOUP EFM MJCSP i&TDSJUP FO FM BHVBw EF 1BVMB )BXLJOT 1MBOFUB Ï $PSUFT½B PUPSHBEB CBKP FM QFSNJTP EF (SVQP 1MBOFUB .¹YJDP

&45"4 36*/"4 "/50/*0 0356º0

1SFTFSWBDJ¯O Z GFBMEBE

1

BSB GJOFT EF T½OUFTJT QPEFNPT EFDJS RVF FO (VBEB MBKBSB FYJTUFO USFT UJQPT EF QFSTPOBT MBT RVF WFOF SBO B MB HMPSJFUB .JOFSWB Z MB WFO DPNP T½NCPMP MP DBM JOFMVEJCMF MBT RVF DPOTJEFSBO DPOTJEFSBNPT RVF MB .JOFSWB FT VOB EF MBT FTDVMUVSBT N²T GFBT TPCSF MB GB[ EF MB UJFSSB Z FTUBS½BNPT FODBOUBEPT TJ TV QFEFTUBM BNBOFDJFSB VO E½B EFDPSBEP QPS VOB DBCF[B PMNF DB BVORVF GVFSB EF VOJDFM Z GJOBMNFOUF BRVFMMBT B MBT RVF UP EP MP RVF TVDFEF FO MB DJVEBE MFT EB MP NJTNP ZB TFB QPSRVF TV WJEB FT VOB ESBN²UJDB MVDIB QPS MB TVQFSWJWFODJB P QFPS QPSRVF UJFOFO MB DBCF[B MMFOB EF IVNP Z OPN²T QJFOTBO FO JSTF B -BT 7F HBT FTBT TF QFSDBUBS½BO EF VOB IJQPU¹UJDB EFTBQBSJDJÂO EF MB NFOUBEB HMPSJFUB BQFOBT VO BÁP EFTQV¹T EF DPOTVNBEB i{"D² RVF IBC½B PZFT {6O MBWBDPDIFT w /P OPT EFUFOESFNPT QPS NPUJWPT PCWJPT FO MB ÈMUJNB DBUFHPS½B -B QSJNFSB DBMBÁB MB EF MPT FOUVTJBTUBT FTU² DPNQVFTUB QPS HFOUF NVZ SFTQFUBCMF (FOUF RVF RVJFSF B TV DJVEBE Z BQP ZB MBT NFEJEBT EFTUJOBEBT B TBMWBHVBSEBS TV QBUSJNPOJP (FO UF RVF EJDF RVF CVFOP FT WFSEBE RVF MB .JOFSWB OP FT QSFDJ TBNFOUF VOB 7FOVT EF .JMP Z RVF BDFQUB RVF MB %JBOB $B[BEPSB EFM FY %' FT NVZ TVQFSJPS QFSP TPTUJFOF UBNCJ¹O RVF FTP OP TJHOJGJDB RVF MP OVFTUSP TFB VOB DPDIJOBEB "MHV OPT EF FMMPT BHSFHBO RVF QPS FKFNQMP FM %BWJE NBDSPDFG²MJDP EF .POUFSSFZ FOUSBO B (PPHMF Z CÈTRVFOMP SFTVMUB JOPMWJEB CMF FTU² NVDIP QFPS 7J¹OEPMP CJFO NF BUSFWFS½B B EJTUJOHVJS ZB FOUSBEPT FO NBUJDFT EPT FTDVFMBT EFOUSP EFM CBOEP EF MPT EFGFOTPSFT 6OB MB NPEFSBEB RVF SFDPOPDF MBT MJNJUBDJPOFT EF MB FTUBUVB VSCBOB QPS FYDFMFODJB FO FTUB DJVEBE Z DVZP MF NB QPES½B TFS i&T GFB T½ QVFT QFSP FT OVFTUSBw : PUSB MB EF MPT JSSFEJNJCMFT RVF QSPDMBNB DPNP WFSEBE BVUPFWJEFOUF RVF

MB .JOFSWB OP FT VO NPOTUSVP TJOP RVF OVFTUSBT QVQJMBT MB WFO BT½ QPS DVMQB EFM OFPDPMPOJBMJTNP Z RVF DÂNP JCB B TFS GFB TJ MB FTDVMQJFSPO QBSB RVF RVFEBSB QBSFDJEB B MB NBESF EF EPO "HVTU½O :²ÁF[ NF BDMBSB VO FYQFSUP RVF FTUP FT VO NJUP MP JNQPSUBOUF OP FT FTP TJOP RVF NVDIB HFOUF MP DSFF 5BNCJ¹O IBZ NPEFSBEPT Z SBEJDBMFT FO MB FTRVJOB EF MPT NJ OFSWBGÂCJDPT -PT TFSFOPT RVF TPO MB NBZPS½B RVF TPNPT FKFN OPT MJNJUBNPT B HSVÁJS FOUSF EJFOUFT Z B FOTPÁBS DPO RVF BMHP NBSBWJMMPTP TVDFEB Z SFTVFMWB MB TJUVBDJÂO EF UBKP RVF VO ESPO WVFMF MB FTUBUVB QPS BDDJEFOUF QFSP TJO DBVTBS EBÁP B OB EJF QPS FKFNQMP UBNQPDP TPNPT VOPT TBOHVJOBSJPT 0 RVF BM GFTUFKBS VO U½UVMP MB BGJDJÂO EF MBT $IJWBT DPOWJFSUB MB .JOFSWB FO VO NPOUPODJUP EF QJOPMF OP EJHP OBEB EF MB EFM "UMBT QPSRVF TF TBCF RVF FMMPT GFTUFKBS²O FM E½B RVF TV FRVJQP HBOF BMHP FO MPT /JÁPT )¹SPFT -PT FYUSFNJTUBT RVF MP TPO TPMBNFOUF EF QB MBCSB IBZ RVF BDMBSBS QPSRVF DPOUSB MB .JOFSWB TPMBNFOUF IBO BUFOUBEP TVT DPOTUSVDUPSFT QPS IBDFSMB UBO GS²HJM EJDFO DPTBT DPNP i&O WF[ EF MB .JOFSWB EFCFS½BO QPOFS BM 5SJCJM½O RVF FT UBCB FO MB -JCSFS½B EF $SJTUBM EF 7BMMBSUBw 0 i4JFNQSF RVF NF WPZ EF MB DJVEBE MMPSP EF BMFHS½B QPS EFKBS EF WFS MB .JOFSWB VOB UFNQPSBEB : MMPSP BM SFHSFTBS QPSRVF T¹ RVF WPZ B UPQ²SNFMB EF OVFWPw .VDIB HFOUF TF TJOUJ QFSUVSCBEB BM WFS MB FTUBUVB FO WVFMUB QPS VO SFDVCSJNJFOUP RVF QBSFDF VO TVEBSJP &TUP GPS NB QBSUF EF MPT USBCBKPT EF SFTUBVSBDJÂO RVF BDUVBMNFOUF TF SFBMJ[BO FO FM NPOVNFOUP QBSB FWJUBS RVF TF EFTNPSPOF DP NP VO NB[BQ²O (VBEBMBKBSB IB QFSEJEP UBOUP EF TV QBUSJ NPOJP RVF FT EF BHSBEFDFS FM JOUFOUP EF QSFTFSWBSMP 1FSP BM HVOPT OP QPEFNPT FWJUBS VO EFTFP RVF EF FTF TVEBSJP FNFSKB BMHP NFOPT GFP "VORVF TFB VO QPDP

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

3&45"63"%" &T EF BHSBEFDFS FM JOUFOUP RVF TF IJ[P QPS QSFTFSWBS MB .JOFSWB


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.