Tapatío 29 de mayo de 2016 by EL INFORMADOR

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

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

"º0 9$*9 50.0 $$$-999* /Á.&30

4&$$* /

$3*"%0 &/ $6/" %& ."(04

+0# (3"/&--

?Q=@ANJK @A HA?PQN=

&4 &- 5"1"5¶0 .«4 1016-"3 &/ -" 3&% 103 464 "$504 &4 $"1"; %& %&+"3 "- 1Á#-*$0 4*/ 1"-"#3"4

1 , ]Ê °]Ê " "Ê Ó Ê Ê 9"Ê ÊÓä£È

1ÈHJOB USFT &- */'03."%03 t 1 '3"/$0

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

1PS *MTF .BSU½OF[

&- %"50 ¼Mq oecqa l]n] ah ]npa `a Bne`]; )JMEB 5SVKJMMP 4PUP TF ×BMB RVF FO MPT QSØYJ NPT NFTFT TFHVJSÈO MBT FYQPTJDJPOFT DPO PCSBT EF MB NFYJDBOB MBT DVBMFT HJSBSÈO FO EJTUJOUPT QBÓTFT i"QP ZBNPT NVDIBT JOWFT UJHBDJPOFT B USBWÏT EF OVFTUSP BSDIJWP TF HVJNPT SFTUBVSBOEP MB $BTB "[VM FT VO USB CBKP DPUJEJBOP RVF IB DFNPT QBSB QSPNPWFS UBOUP MB PCSB EF 'SJEB DPNP MB EF %JFHPw

-B NFYJDBOB DBEB E¤B BVNFOUB TV WBMPS DPNP BSUJTUB Z BIPSB WJWF FO FM PMJNQP EF MBT QJOUPSBT N T DPUJ[BEBT EFM NVOEP

*-6453"$*»/ t + -»1&;

VFHP EFM BDDJEFOUF EF US²OTJUP RVF MF EFKÂ TFDVF MBT EF QPS WJEB 'SJEB ,BIMP FODPOUSÂ FO FM BSUF VOB NBOFSB EF TBDBS FM EPMPS G½TJDP RVF FO FTPT NPNFOUPT MB NBOUFO½B QPTUSBEB FO VOB DBNB 'VF FO FTF QFSJPEP DVBOEP DPNFO[Â B QJOUBS Z EFTDVCSJÂ RVF FTB IBCJMJEBE TF WPMWFS½B TV WPDB DJÂO )PZ TV USBCBKP FT SFWBMPSBEP FO UPEP FM NVOEP Z HSBDJBT B i%PT EFTOVEPT FO FM #PTRVFw -B NJTNB 5JFSSB FOUSÂ BM UPQ UFO EF MBT QJOUPSBT DPO QJF[BT NFKPS WFOEJEBT Z TFS MB BSUJTUB N²T DPUJ[BEB FO -BUJOPBN¹SJDB VO ¹YJUP RVF RVJ[² OJ FMMB JNBHJOÂ BM DSFBS TVT QJF[BT )JMEB 5SVKJMMP 4PUP EJSFDUP SB EF MPT .VTFPT 'SJEB ,BIMP Z %JFHP 3JWFSBo"OBIVBDBMMJ DPO TJEFSB RVF MB GJHVSB Z FM BSUF EF ,BIMP IB TJEP SFWBMPSBEP FO MPT ÈMUJNPT BÁPT EFCJEP B EJTUJOUBT SB[POFT 1PS VOB QBSUF FM USBCBKP MPHSBEP B USBW¹T EF MPT EPT GJEFJ DPNJTPT RVF TF EFEJDBO B QSPNPDJPOBS TV PCSB BM SFDPOPDJNJFOUP TPDJBM EF FYQFSUPT Z BM GFOÂNF OP TPDJBM RVF TV WJEB IB EFTQFSUBEP FO .¹YJDP Z FM NVOEP i'SJEB TJFOEP VOB QJOUPSB RVF TF BUSF WF B IBCMBS EF T½ NJTNB UBNCJ¹O SFQSFTFOUB NV DIBT JORVJFUVEFT TPDJBMFT QPS FTP IBZ UBOUB HFO UF RVF RVJFSF JS B WFS TV PCSB {DV²MFT TPO FTBT JORVJFUVEFT QPS FKFNQMP MB EJTDBQBDJEBE RVF QBEFDJÂ Z DPNP FMMB MP EJKP FO TV EJBSJP A1JFT {QB SB RV¹ MPT RVJFSP TJ UFOHP BMBT QBSB WPMBS w 1BSB 5SVKJMMP 4PUP 'SJEB GVF VOB NVKFS RVF EFTEF TV NBOFSB EF WFTUJS IBTUB BMHVOBT GPS NBT EF QFOTBS FT WJTUB DPNP MB SFQSFTFOUBOUF EF MBT USBEJDJPOFT NFYJDBOBT QFSP TJO BDFQUBS MBT BUBEVSBT TPDJBMFT OJ MPT DPOWFODJPOBMJTNPT i.VDIBT QFSTPOBT RVF WJTJUBO FM NVTFP $BTB "[VM MB WFO DPNP VO FKFNQMP EF VOB NVKFS MJCF SBM RVF TF BUSFWJÂ DPNP BMHVJFO RVF IJ[P VOB T½O UFTJT EF SJRVF[B DVMUVSBM NFYJDBOB WF[ DÂNP FMMB MP IJ[P Z FT VOB T½OUFTJT FM UFNB EF MB QSFPDVQB DJÂO TPDJBMw &TB JNBHFO EF NVKFS EF WBOHVBSEJB Z MJCSF TFÁBMB MB FTQFDJBMJTUB TF DPOWJFSUF FO VO JN²O QB SB DPOPDFS TV PCSB i'SJEB SFTQPOEF B NVDIP WFS DÂNP FMMB USBOTGPSNB FM EPMPS FO CFMMF[B IBZ RVF WFS TV DBTB TV GPSNB EF WJEB DPNP EJDJFOEP FM EPMPS OP NF WB B WFODFS ZP TVQFSP DVBMRVJFS CB SSFSB RVF MB WJEB NF QPOHB &TUF SFDPOPDJNJFOUP NVOEJBM B TV PCSB FT B VOB BSUJTUB GVF VOB NVKFS BCJFSUB RVF TVQP USBOTGPSNBS FM EPMPS FO PCSB EF BSUF RVF OVODB UVWP OJOHÈO UBQVKP RVF OP BDFQUÂ MBT BUBEVSBTw &M FKFNQMP QFSGFDUP EF MP BOUF SJPS FT MB PCSB i%PT EFTOVEPT FO FM #PTRVFw -B NJTNB 5JFSSB MB DVBM GVF WFOEJEB QPS QPDP N²T EF PDIP NJMMPOFT EF EÂMBSFT FO MB TVCBTUB EF BSUF NPEFSOP F JNQSFTJPOJTUB EF MB DBTB $ISJTUJF T EF /VFWB :PSL i&T VO DVBESP NVZ JOUFSFTBOUF NVZ BCJFSUP TPO EPT NVKFSFT EFTOVEBT BDBSJDJBOEP VOB B MB PUSB FMMB TF MP SF HBMÂ FO TV UJFNQP B %PMPSFT EFM 3½P DPO RVJFO TPTUVWP VO BNPS½P FOUPODFT JNB HJOB FM UFNB RVF GVF TF BUSFWJÂ B IBCMBS EF T½ NJTNBw

6OB NVFTUSB EFM QPEFS MBUJOPBNFSJDBOP 5BO TÂMP QPDPT E½BT EFTQV¹T EF RVF MB QJF[B EF 'SJEB TF QPTJDJPOBSB DPNP MB NFKPS WFOEJEB FO HFOFSBM FO FM BSUF MBUJOPBNFSJDB OP GVF VOB PCSB QSFDJTBNFOUF EF TV QBSFKB %JF HP 3JWFSB MB RVF MB EFTQMB[Â EF FTF U½UVMP )JMEB 5SVKJMMP 4PUP EFTUBDB RVF i#BJMF EF 5FIVBOUFQFDw EFM NVSBMJTUB NFYJDBOP GVF TVCBTUBEB FO NJ MMPOFT EF EÂMBSFT MP RVF TJHOJGJDB VOB OVFWB NBS DB FO FM BSUF EF OVFTUSB SFHJÂO i&M DVBESP EF %JF HP FT NVZ JNQPSUBOUF QPSRVF FT VOB USBOTJDJÂO EF MB FTDVFMB NFYJDBOB TPCSF FM DVCJTNP 5F EB VOB JEFB EFM QPUFODJBM FO NBUFSJB DVMUVSBM FTUB NPT IBCMBOEP RVF TF FNQJF[B B SFDPOPDFS RVF FT VO JOTUSVNFOUP EF QPM½UJDB JOUFSOBDJPOBM NVZ JN QPSUBOUF IBZ EPT OPUBT WJPMFODJB Z DVMUVSB IBZ RVF WFS DV²M RVFSFNPT RVF CSJMMF %JFHP UBNCJ¹O WB QBSB BSSJCBw 5BNCJ¹O JOEJDÂ RVF IBZ VO HSBO FTGVFS[P EF MPT EPT GJEFJDPNJTPT EFEJDBEPT B QSPNPWFS MB WJ EB Z PCSB EF 'SJEB Z %JFHP B OJWFM NVOEJBM i&M GF OÂNFOP EFTQJFSUB NVDIP JOUFS¹T 'SJEB FT VO FKFNQMP EF WBMPS JOUFMJHFODJB UPMFSBODJB MJCFS UBE &M BSUF FT MB NFKPS CBOEFSB EF VO QB½T BQSF DJBS MBT BSUFTBO½BT Z UPEPT MPT UFTPSPT RVF NVDIBT WFDFT OP MP TBCFNPT WBMPSBS QFSP 'SJEB T½ TVQPw

" -" #&--&;" %FM EPMPS

-"4 "35*45"4 .«4 $05*;"%"4 (FPSHJB 0 ,FFGGF -B QJOUVSB i+JNTPO 8F FE 8IJUF 'MPXFS /P w TF WFOEJØ FO 4P UIFCZ T QPS FM IJTUØSJDP QSFDJP EF NEE DPOWJS UJÏOEPMB FO FM FO MB QJOUVSB NÈT DBSB DSFBEB QPS VOB NVKFS -PVJTF #PVSHFPJT 4V FTDVMUVSB EF EPT NFUSPT UJUVMBEB i4QJEFSw TF WFOEJØ FO $ISJTUJF T FO QPS NEE Z IBTUB MB GFDIB FT MB NÈT DFS DBOB EF 0 ,FFGGF +PBO .JUDIFMM -B FYQSFTJPOJTUB BCTUSBDUB PDVQB FTUF TJUJP DPO TV QJOUVSB i6OUJUMFEw $VBOEP FM MJFO[P TF WFOEJØ FO $ISJTUJF T QPS NEE GVF DPOTJEFSBEB MB QJOUVSB NÈT DBSB IBTUB RVF TVCBT UBSPO FO FM FM BSUF EF 0 ,FFGGF #FSUIF .PSJTPU -B JNQSFTJPOJTUB FT EF MBT BSUJT UBT DPO MBT QJOUVSBT NÈT DBSBT EFOUSP EF TV DPSSJFO UF i"QSÏT MF EÏKFVOFSw GVF WFOEJEB FO FM

Z IBTUB MB GFDIB FT TV PCSB NÈT DPTUPTB QPS NEE /BUBMJB 4FSHFFWOB (PO DIBSPWB &T VOB EF MBT BSUJTUBT NÈT JNQPSUBOUFT EFM NPWJNJFOUP SVTP BWBOU HBSEF $ISJTUJF T WFOEJØ TV PCSB i-FT 'MFVSTw QPS NEE "HOFT .BSUJO $PO i0SBOHF (SPWFw $ISJTUJF T WFOEJØ MB QJF[B B QSJODJQJPT EF NBZP QPS NEE DPOWJSUJÏOEPMB FO MB PCSB NÈT DBSB EF .BSUJO IBTUB MB GFDIB $BOEZ /PMBOE &T MB ÞOJDB BSUJTUB EF MB MJTUB RVF TJHVF DPO WJEB Z TVT QJOUVSBT DPOUJOÞBO SPNQJFOEP SÏDPSET QSPQJPT i#MVFXBMEw TF WFOEJØ B QSJODJQJPT EF NBZP FO $ISJTUJF T /VFWB :PSL QPS NEE

5BNBSB EF -FNQJDLB 3FUSBUBEB DPNP iMB QSJNFSB BSUJTUB FO TFS VOB FTUSFMMB EFM HMB NPVSw TV MVHBS FO MB MJTUB TF MP EJP MB PCSB i-F SÐWF 3BGBÑMB TVS GPOE WFSU w WFOEJEB QPS NEE FO 4PUIFCZ T EF /VFWB :PSL FO $BNJMMF $MBVEFM 4F VOF B MB MJTUB DPO MB WFOUB EF TV FTDVMUVSB i-B WBMTF QFSNJÒSF WFSTJPOw FO 4PUIFCZ T EF -POESFT FO QPS MB TVNB EF NJ MMPOFT EF CJMMFUFT WFSEFT 'SJEB ,BIMP i%PT EFTOVEPT FO FM CPTRVFw -B UJFSSB NJTNB GPUP B MB J[RVJFSEB FT MB PCSB RVF DPOTBHSØ B ,BIMP DPNP VOB EF MBT BSUJTUBT NÈT DB SBT $PO MB WFOUB EF TV QJOUVSB QPS NEE MB NFYJ DBOB SPNQJØ FM SÏDPSE EF MB DBTB EF TVCBTUB $ISJT UJF T FO /VFWB :PSL FO TV WFOUB EF BSUF NPEFSOP F JNQSFTJPOJTUB 1SFDJPT FO NJMMPOFT EF EØMBSFT NEE

1~(*/" #

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

%PNJOHP EF NBZP EF

+03(& %ยถ"; $6&370 "6503

&/53&7*45" 1PS +PSHF 1ยนSF[

&- %ย " 26&

PSHF %ยฝB[ $VFSWP QVCMJDร FO "SJFM VOB BEBQUBDJร O EF TV UFTJT EPDUPSBM i%SPHBT DBNJOPT IBDJB MB MFHBMJ[B DJร Ow 3FTQBMEBEP QPS VOB BNQMJB CJ CMJPHSBGยฝB DPO EBUPT EVSPT F IJTUPSJB TPCSF FM QSPIJCJDJPOJTNP FM BVUPS FY QPOF MB QSPCMFNยฒUJDB RVF IB BDBSSFB EP MB MFHJTMBDJร O FO DPOUSB EF MBT ESPHBT 4PCSF FTUB OVFWB QVCMJDBDJร O DIBSMBNPT DPO %ยฝB[ $VFSWP WยฝB UFMFGร OJDB RVJFO OPT DPN QBSUF MB BDUVBMJ[BDJร O EFM DPOUFOJEP EF TV UFTJT i&NQFDยน NJ EPDUPSBEP FO MPHSยน FM HSBEP FO "M IBCFS TJEP QSFTFOUBEB FO USBยฝB DJ GSBT EF BM 1BSB MB FEJDJร O TF BDUVBMJ[B SPO BMHVOPT EBUPT 1PS FKFNQMP FM $IBQP OP TF IBCยฝB GVHBEP UBNQPDP MP IBCยฝBO SFDBQUVSBEP &M MJCSP MP RVF PGSFDF FO TV QSJNFSB QBSUF FT VO FKFS DJDJP EF SFWJTJร O Dร NP TF MFWBOUร FM QFTBEP BO EBNJBKF KVSยฝEJDP EFM QSPIJCJDJPOJTNP EFTEF GJOB MFT EFM TJHMP 97*** IBTUB OVFTUSPT EยฝBTw *HVBMNFOUF FO FTUF QFSJPEP IVCP DBNCJPT FO MBT MFHJTMBDJPOFT JOUFSOBDJPOBMFT B MB QBS EF JOWFTUJHBDJPOFT RVF SFWFMBO EBUPT TPCSF FM FGFD UP FO FM DFSFCSP EF TVTUBODJBT DPNP FM -4% ESP HB RVF TF QPESยฝB VUJMJ[BS QBSB GJOFT UFSBQยนVUJDPT i-B SFMBDJร O EF MPT TFSFT IVNBOPT DPO MBT ESPHBT FT NJMFOBSJB QFSP FM QSPIJCJDJPOJTNP FT SFDJFO UF /P TJFNQSF IBO FTUBEP TVKFUBT MBT ESPHBT B FT UB QSPIJCJDJร O &O MB QBSUF DFOUSBM EFM MJCSP BOB MJ[P DPO EBUPT TJ MPT PCKFUJWPT QMBOUFBEPT QPS MBT DPOWFODJPOFT FO NBUFSJB EF ESPHBT TF DVNQMFO P TJ IBZ BMHVOB JEFB EF RVF TF QVFEB MMFHBS B DVN QMJS 6OP FT MPHSBS FM BCBTUP PQPSUVOP Z TVGJDJFO UF EF NFEJDJOBT CBTBEBT FO PQJยฒDFPT FO DPDB Z

MP QSPIJCJEP

'3"$"4ย

&41&$*"-

DBOOBCJT FO UPEP FM QMBOFUB : TJ UBNCJยนO BWBO [BNPT IBDJB MB FSSBEJDBDJร O EF PUSP VTP RVF OP TFB NยนEJDP 1FSP FTUBNPT NVZ MFKPT FO DVNQMJS DVBMRVJFSB EF MPT EPT 1PS FTP IB TJEP VO GSBDBTP PCKFUJWBNFOUF OP TF MMFHBO B MPT PCKFUJWPTw 1BSB BSSPKBS MVDFT TPCSF QPS RVยน OP TF IBO MMF HBEP B FTUBT NFUBT FM BVUPS SFBMJ[B VO BOยฒMJTJT EF QPS RVยน GBMMBO FTUBT OPSNBT i4J FTUยฒO NBM FTDSJUBT NBM QMBOUFBEBT QPS RVยน OP TPO FGJDBDFT BVO DVBO EP QBยฝTFT MBT IBO TVTDSJUP "M GJOBM JEFOUJGJDP QP TJCMFT SVUBT EF USBOTGPSNBDJร O 2Vยน QBยฝT RVยน SFHJP OFT EFM NVOEP TF FTUยฒ DBNJOBOEP &O FGFDUP SFDJFOUFNFOUF TF EB VO QVOUP EF RVJFCSF FO MB QP TJDJร O EFM HPCJFSOP NFYJDBOP EPOEF SFDPOPDF FM QSFTJEFOUF RVF OP IB GVODJPOBEP FTF QBSBEJHNB RVF OP EB SFTVMUBEPT )BZ RVF CVTDBS VO QVOUP OVF WP QBSB QBSUJS "Iยฝ FTUBNPT FO VO QVOUP OVFWP EF JOGMFYJร O FO EPOEF MP RVF QBSFDยฝB EJGยฝDJM TPCSF UPEP VO QSFTJEFOUF RVF QBSFDยฝB DPOUSBSJP B MB MFHBMJ[B DJร O EF MBT ESPHBT IBZB IFDIP FM SFDPOPDJNJFOUP &TUP OPT BCSF VO OVFWP QBOPSBNB EF EFCBUF EF EJยฒ MPHP EF Cร TRVFEB EF WFS RVยน QBTB FO FM NVOEP )BZ RVF UPNBS MP CVFOP Z CVTDBS VO QSPQJP BSSFHMP DPO MBT ESPHBT &O FGFDUP FTUBNPT FO VO NPNFOUP KVO UP DPO FM SFTUP EFM NVOEP EF SFDPOPDJNJFOUPw &M MJCSP QSPQPOF TVCJS BM EJยฒMPHP Qร CMJDP B JOTUBODJBT FNQSFTBSJBMFT RVF Tยฝ UJFOFO SFMBDJร O DPO MBT TVTUBODJBT QFSP DVZBT PQJOJPOFT OP TVF MFO TFS Qร CMJDBT i1PDBT WFDFT USBFNPT BM EJยฒMPHP B MB JOEVTUSJB GBSNBDยนVUJDB $SFP RVF FM MJCSP PGSFDF FTP JOGPSNBDJร O QFSTQFDUJWBT ยฒOHVMPT QBSB FOSJRVFDFS MB EJTDVTJร O /P EFCF FTUBS DFO USBEB FO MB QSPIJCJDJร O FTUยฒ DMBSP RVF OP GVODJP OB MB EJTDVTJร O FT IBDJB Eร OEF DBNJOBSw

LN NMBEBS:<BรงG IH=Kรฃ: =BO>KLB?B<:KL>

53":&$503*" &TUVEJร FDPOPNร B FO MB 6OJWFSTJEBE EF 4PVUIXFTUFSO EF 5FYBT NBFTUSร B FO FM *5". Z EPDUPSBEP FO MB 6/".

En ese sentido, los resultados de investigaciones cientรญficas sobre el LSD han reavivado el debate sobre el uso de la sustancia para fines terapรฉuticos. De ello, Jorge Dรญaz Cuervo agregรณ: โ Me sorprende que la industria farmacรฉutica, siendo un actor fundamental en el tema de los estupefacientes y los psicotrรณpicos, no hable del tema. El cabildeo lo hacen tras bambalinas. Es importante que la gente sepa que la industria farmacรฉutica es muy beneficiada por el prohibicionismo. La amapola, la hoja de coca y la cannabis son materia prima para la producciรณn de cientos, miles de analgรฉsicos. La gente tampoco sabe que sรณlo nueve paรญses tienen autorizaciรณn para sembrar legalmente amapola y vendรฉrsela a los farmacรฉuticos y que produzcanโ ฆ ยฟPor quรฉ

Mรฉxico no puede producir amapola legalmente si tiene dos regiones (el triรกngulo dorado: Sonora, Chihuahua y Durango, y la sierra de Guerrero) muy buenas para su producciรณn? Podrรญamos enfrentar al crimen organizado de una manera mรกs inteligenteโ . Sobre esta ambivalencia de la sustancia al ser รบtil para la industria farmacรฉutica y tener una producciรณn ilegal, el autor seรฑalรณ: โ Es la gran paradoja: estas sustancias han sido etiquetadas como malas, como peligrosas, pero son indispensables para atender enfermedades. Entonces el prohibicionismo le ha dado el monopolio y el acceso a estas sustancias a la industria farmacรฉutica, a la par de la criminalizaciรณn. Tambiรฉn hay que entender que no todo consumo es problemรก-

tico, como no todo consumo de tabaco o alcohol lo es. Se necesita la autorregulaciรณn, las decisiones informadas tomadas por adultos son una mejor vรญa que el prohibicionismo de โ papรก gobiernoโ que decide lo que es bueno y decenteโ . El tema de la percepciรณn social del consumo recae tambiรฉn en las sustancias por uso recreativo o como medicamentos: โ Detrรกs del prohibicionismo estรก una ola moralizante que se dio en Estados Unidos a finales del XIX y comienzos del siglo XX. Incluso llegรณ al alcohol. Se etiquetรณ a las sustancias y las personas. Eso es algo que ha contaminado todo el andamiaje jurรญdico. Hay una pesada carga de prejuicios morales, dogmas, xenofobia y racismo asociada a las sustanciasโ .

&45"4 36*/"4 "/50/*0 0356ยบ0

6TUFE RVยฅ TBCF

Fยฝ IBDF EยฝBT VO EFTQBDIP QFSJPEยฝTUJDP RVF JOGPSNBCB EFM BTFTJOBUP EF VO BGJDJPOBEP BM GVUCPM B NBOPT EF PUSP FOUVTJBTUB EFM FRVJQP SJWBM .F UFNP RVF UPEPT DPOPDFNPT FTBT IJTUPSJBT EF QMFJUPT EFQPSUJWPT "VORVF OP OF DFTBSJBNFOUF BDBSSFFO MB FMJNJOBDJร O GยฝTJDB EF VOP EF MPT DPOUFOEJFOUFT TVFMFO UFSNJOBS FO HPMQJ[BT DBSHBT QPMJDJBDBT Z EFTUSP[PT FO QSPQJFEBEFT EF UFSDFSPT /P OP FT NJ JOUFODJร O FTCP[BS FM FOยนTJ NP JOUFOUP EF BOยฒMJTJT EF MPT SJFTHPT EFM BQBTJPOB NJFOUP GVUCPMFSP TJOP EFTUBDBS FM DBSยฒDUFS JSSBDJP OBM Z WJPMFOUP EF MPT GBOยฒUJDPT FO HFOFSBM 6O UBMBOUF RVF OP FT NPOPQPMJ[BEP EF OJOHVOB NBOF SB QPS FM GVUCPM TJOP RVF BMDBO[B DVBMRVJFS FYUSFNP EF MB BDUJWJEBE IVNBOB 1POHP VO FKFNQMP )BDF VOPT NFTFT VO SF QPSUFSP EF VO QPSUBM XFC FOUSFWJTUร B VO TVKFUP RVF TF EFEJDB B MB MJUFSBUVSB -F QSFHVOUร TBCSยฒ %JPT QPS RVยน TV PQJOJร O TPCSF MPT WPMร NFOFT EF MB TF SJF MMBNBEB i-PT KVFHPT EFM IBNCSFw ย M UJQP SFT QPOEJร RVF Tร MP IBCยฝB MFยฝEP QBSUF EFM QSJNFSP Z TV JNQSFTJร O FSB RVF OP TF USBUBCB QSFDJTBNFOUF EF VOB PCSB NBFTUSB TJOP EF VO QSPEVDUP EF DPOTV NP QPQVMBS DPNP UBOUPT PUSPT QPS FKFNQMP FTB TB HB EF WBNQJSPT Z IPNCSFT MPCP Qร CFSFT MMBNBEB i$SFQร TDVMPw 4F QFSNJUJร QSPGFUJ[BS i/P DSFP RVF MB NBZPSยฝB EF TVT MFDUPSFT WBZBO B QBTBS EF BMMยฝ B 1SPVTUw 6OPT EยฝBT EFTQVยนT DVBOEP MB FOUSFWJT UB TF QVCMJDร TVT SFEFT TPDJBMFT TF MMFOBSPO JOTUBO UยฒOFBNFOUF EF NFOTBKFT EF BEPMFTDFOUFT GVSJPTPT {1PS RVยน 1PSRVF BM iDSยฝUJDPw OP MF HVTUBCBO MPT NJTNPT MJCSPT RVF B FMMPT MPT QPOยฝBO FO ยนYUBTJT "M HVOPT EF MPT SFDBEPT FSBO NPEFSBEPT Z TPMBNFO UF MF EFTFBCBO RVF TF DBZFSB EF MB DJNB EFM NPOUF "SBSBU 0USPT MP BDVTBCBO EF FTOPC EF EFTQSFDJBS B MPT MFDUPSFT B MB MJUFSBUVSB KVWFOJM FO TV DPOKVO UP Z EF QBTP B MB JOGBOUJM B UPEB MB MJUFSBUVSB GBO UยฒTUJDB Z UBNCJยนO GBMUBCB NยฒT EF JOTVMUBSMPT IV NJMMBSMPT Z TPCBKBSMPT FTB QBMBCSB EFCP DPOGFTBS NF EB SJTB QPSRVF VO QSPGFTPS IBDF Bร PT MB VUJMJ [BCB DPNP NVMFUJMMB SFQSPCBUPSJB i/P TPCBKF OVFTUSB JOUFMJHFODJB DPNQBร FSPw MFT EFDยฝB B MPT RVF TF FRVJWPDBCBO BM SFTQPOEFS VO FYBNFO BOUFT EF USPOBSMPT {2Vยน FSB MP RVF PGFOEยฝB UBOUP B MPT JODPOGPSNFT 2VF VO PCKFUP EF TV BGFDUP FM MJCSP FO FTUF DBTP GVFSB QVFTUP FO UFMB EF KVJDJP 7BZB VOP EF MPT GVSJPTPT RVJTP TJOUJFSB FO DBSOF QSPQJB TV EPMPS Z MF FTQFUร i&TF #SVTU TJD QPS 1SPVTU IB EF FTUBS UBO UBSBEP DPNP VTUFEw

{1PS RVยน DSFBNPT FTPT MB[PT EF IJFSSP DPO FRVJQPT MJCSPT HSVQPT NVTJDBMFT P QFJOBEPT {1PS RVยน OPT TFOUJNPT QFSTPOBMNFOUF PGFOEJEPT QPS VO DPNFOUBSJP RVF TJOUBNPT RVF MPT EFOJHSB /P IBZ SFTQVFTUBT UBKBOUFT 5PEP NVOEP UJFOF EFSFDIP B BNBS MP RVF MF QFHVF MB HBOB Z B TFOUJSTF BGFDUBEP TJ MF QMBDF QFSP FT SJEยฝDVMP RVF SFDMBNFNPT VO iSFT QFUPw FYBHFSBEP Z HSBUVJUP QPS UPEBT Z DBEB VOB EF MBT DPTBT RVF OPT HVTUBO %FM NJTNP NPEP RVF DPS UBSMF MB DBCF[B B VO CMBTGFNP QPS iPGFOEFS MPT TFO UJNJFOUPTw EF MPT DSFZFOUFT QBSFDF B FTUBT BMUVSBT EFM QSPHSFTP IVNBOP EFTQSPQPSDJPOBEP QBSFDF BCTVSEP RVF EPT GBOยฒUJDPT BM GVUCPM TF QFHVFO EF UJ SPT P USPNQBEBT QPS MP RVF IBDFO FO VOB DBODIB EPT EPDFOBT EF UJQPT RVF OPT MPT DPOPDFO 0 RVF MPT DIBNBDPT BGJDJPOBEPT B UBM P DVBM CFTU TFMMFS TF UPSOFO FOKBNCSF EF BCFKBT QBSB BHVJKPOFBS B RVJFO PTF PQJOBS RVF FM PCKFUP EF TV EFWPDJร O OP FT QSF DJTBNFOUF MB i%JWJOB $PNFEJBw $MBSP FO FM GPOEP UPEPT TPNPT DPNP FM QSPGF TPS BM RVF NF SFGFSยฝ RVJFO MVFHP EF DPNFUFS VO FSSPS GVF DPSSFHJEP QPS VO BMVNOP DPO TV USBEJDJP OBM BSHVNFOUP FM EF i/P TPCBKF OVFTUSB JOUFMJHFO DJBw Z TF QVTP DPNP VO MPDP i"IPSB Tยฝ FT CSPODBw EJKP : USPOร BM JOTPMFOUF BVORVF UFOยฝB MB SB[ร O

%PNJOHP EF NBZP EF

1~(*/" #

&- */'03."%03

>À Ê6>À}>ÃÊ Ã>

* , Ê Ê/"+1 "DBCB EF IBCFS FMFDDJPOFT HFOFSBMFT FO 'SBODJB Z MB i'SBUFSOJEBE NVTVMNBOBw IB HBOBEP DPO DPNPEJEBE TPDJBMJTUBT Z SFQVCMJDBOPT UFNFSPTPT EF RVF FM 'SPOU /BUJPOBM EF .BSJOF -F 1FO QVEJFSB BDDF EFS BM QPEFS FO FTUPT DPNJDJPT IBO BTFHVSBEP BRVFM USJVOGP -B 'SBO DJB RVF GVF BOUBÁP DSJTUJBOB MVFHP MBJDB UJFOF BIPSB QPS QSJNFSB WF[ VO QSFTJEFOUF NVTVMN²O .PIBNNFE #FO "CCFT $POUSBSJBNFOUF B MP RVF TF UFN½B MPT iHSVQPT JEFOUJUBSJPTw OB DJPOBMJTUBT Z YFOÂGPCPT OP IBO FOUSBEP FO [BGBSSBODIP EF DPNCB UF Z QBSFDFO IBCFSTF SFTJHOBEP B MP PDVSSJEP DPO VOPT DVBOUPT BMCP SPUPT Z BMHÈO DSJNFO BMHP RVF QPS MP EFN²T MPT EJTDSFUPT NFEJPT EF DPNVOJDBDJÂO BQFOBT NFODJPOBO &M QB½T NVFTUSB VOB JOTÂMJUB QBTJ WJEBE BOUF FM QSPDFTP EF JTMBNJ[BDJÂO RVF FNQJF[B NVZ EF QSJTB FO FM ²NCJUP BDBE¹NJDP "SBCJB 4BVEJUB QBUSPDJOB DPO NVOJGJDFODJB B MB 4PSCPOB EPOEF MPT QSPGFTPSFT RVF OP TF DPOWJFSUFO EFCFO KVCJMBS TF FTP T½ FO DPOEJDJPOFT FDPOÂNJDBT ÂQUJNBT %FTBQBSFDFO MBT BV MBT NJYUBT Z MPT BOUJHVPT QBUJPT TF MMFOBO EF KPWFODJUBT WFMBEBT &M OVFWP QSFTJEFOUF EF MB VOJWFSTJEBE 3FEJHFS BVUPS EF VO CFTU TFMMFS RVF IB WFOEJEP USFT NJMMPOFT EF FKFNQMBSFT %JF[ QSFHVOUBT TPCSF FM *TMBN EFGJFOEF MB QPMJHBNJB Z MB QSBDUJDB UJFOF EPT FTQPTBT MFH½UJ NBT VOB WFUFSBOB Z PUSB EF BQFOBT RVJODF BÁPT 2VJFO DVFOUB FTUB IJTUPSJB 'SBO¸PJT FT VO PTDVSP QSPGFTPS EF MJUFSBUVSB RVF TF QBTÂ TJFUF BÁPT FTDSJCJFOEP VOB UFTJT TPCSF +PSJT ,BSM )VZTNBOT Z IB QVCMJDBEP VO TPMP MJCSP 7¹SUJHP EF OFP MPHJTNPT TPCSF FTUF OPWFMJTUB EFDJNPOÂOJDP 4PMUFSÂO BQ²UJDP Z BOPEJOP OVODB MF JOUFSFTÂ MB QPM½UJDB QFSP ¹TUB FOUSB DPNP VO WFO UBSSÂO FO TV WJEB DVBOEP MP FDIBO EF MB VOJWFSTJEBE QPS OP DPO WFSUJSTF Z QJFSEF B TV OPWJB .ZSJBN RVF EFCJEP BM DBNCJP EF S¹ HJNFO EFCF FNJHSBS B *TSBFM DPO UPEB TV GBNJMJB BM JHVBM RVF MB NBZPS½B EF KVE½PT GSBODFTFT 'SBO¸PJT PCTFSWB UPEPT FTUPT FOPSNFT DBNCJPT RVF TVDFEFO B TV BMSFEFEPS QPS FKFNQMP RVF MB QPM½UJDB FYUFSJPS GSBODFTB TF WVFM RVF BIPSB B BDFSDBS B &VSPQB Z FO FTQFDJBM B 'SBODJB B UPEPT MPT QB½ TFT ²SBCFT DPO VO GBUBMJTNP USBORVJMP &TUF QBSFDF TFS FM FTUBEP EF ²OJNP EPNJOBOUF FOUSF TVT DPNQBUSJPUBT VOB TPDJFEBE RVF IB QFS EJEP FM ¹MBO WJUBM SFTJHOBEB BOUF VOB IJTUPSJB RVF MF QBSFDF UBO JSSF NFEJBCMF DPNP VO UFSSFNPUP P VO UTVOBNJ TJO SFGMFKPT OJ SFCFME½B

-B NFEJBMVOB TPCSF FM 4FOB TPNFUJEB EF BOUFNBOP B UPEP MP RVF MF EFQBSB FM EFTUJOP #BTUB MFFS VOBT QPDBT Q²HJOBT EF FTUB OPWFMB EF .JDIFM )PVFMMFCFDR QBSB FO UFOEFS RVF FM U½UVMP MF WJFOF DPNP BOJMMP BM EFEP 4PVNJTTJPO &O FGFD UP FTUB FT MB IJTUPSJB EF VO QVFCMP TPNFUJEP Z WFODJEP RVF FOGFSNP EF NFMBODPM½B Z EF OFVSPTJT TF WB WJFOEP EFTBQBSFDFS B T½ NJTNP Z FT JODBQB[ EF NPWFS VO EFEP QBSB JNQFEJSMP "VORVF MB USBNB FTU² NVZ CJFO NPOUBEB Z TF MFF DPO VO JOUF S¹T RVF OP EFDBF B SBUPT TF UJFOF MB JNQSFTJÂO OP EF FTUBS FOGSBT DBEP FO VOB OPWFMB TJOP FO VO UFTUJNPOJP QTJDPBOBM½UJDP TPCSF MPT GBOUBTNBT NBDBCSPT EF VO JODPOTDJFOUF DPMFDUJWP RVF TF UPSUVSB B T½ NJTNP JOGMJHJ¹OEPTF IVNJMMBDJPOFT GSBDBTPT Z VOB MFOUB EFDB EFODJB RVF MP MMFWBS² B MB FYUJODJÂO $PNP FTUF MJCSP IB TJEP MF½EP DPO BWJEF[ FO 'SBODJB QPS VO FOPSNF QÈCMJDP DBCF TVQPOFS RVF FO ¹M TF FYQSFTBO VOPT TFOUJNJFOUPT NJFEPT Z QSFKVJDJPT EF RVF FT W½D UJNB VO JNQPSUBOUF TFDUPS EF MB TPDJFEBE GSBODFTB &T TJNQMFNFOUF JOWFSPT½NJM RVF BMHVOB WF[ PDVSSB FO 'SBO DJB BRVFMMP RVF QBSFDF QSPGFUJ[BS 4PVNJTTJPO VO SFUSPDFTP UBO SBEJDBM IBDJB MB CBSCBSJF EFM QB½T RVF FOUSPOJ[Â QPS QSJNFSB WF[ -PT %FSFDIPT EFM )PNCSF DVOB EF MBT SFWPMVDJPOFT RVF TFHÈO .BSY TF QSPQPO½BO iBTBMUBS FM DJFMPw Z EF MB MJUFSBUVSB N²T SF GSBDUBSJB BM TUBUVT RVP EF UPEB &VSPQB 1FSP UBM WF[ TFNFKBOUF QF TJNJTNP TF FYQMJRVF SFDPSEBOEP RVF MB NPEFSOJEBE IB HPMQFBEP EF NBOFSB JONJTFSJDPSEF B 'SBODJB RVF OVODB IB TBCJEP BEBQ UBSTF B FMMB QPS FKFNQMP TJHVF BSSBTUSBOEP VO &TUBEP NBDSPDF G²MJDP RVF MB BTGJYJB Z VOBT QSFTUBDJPOFT HFOFSPTBT RVF OP QVFEF GJOBODJBS BM NJTNP UJFNQP RVF FM UFSSPSJTNP TF IB FODBSOJ[B EP FO TV TVFMP JNQSFHOBOEP EF JOTFHVSJEBE Z EFTNPSBMJ[BDJÂO B TVT DJVEBEBOPT 1PS PUSB QBSUF TV DMBTF QPM½UJDB RVF IB JEP EFDB ZFOEP Z QBSFDF IBCFS QFSEJEP QPS DPNQMFUP TV DBQBDJEBE EF SF OPWBSTF OP TBCF DÂNP FOGSFOUBS MPT QSPCMFNBT EF NBOFSB SBEJ DBM Z DSFBUJWB &TUP FYQMJDB FM DSFDJNJFOUP FOMPRVFDJEP EFM 'SPOU /BUJPOBM Z FM SFQMJFHVF USJCBM BM OBDJPOBMJTNP EF PSFKFSBT RVF QSP QPOFO TVT EJSJHFOUFT DPNP SFNFEJP B TVT NBMFT -B OPWFMB EF .JDIFM )PVFMMFCFDR EB GPSNB Z DPOTJTUFODJB B FTPT GBOUBTNBT EF NBOFSB NVZ FGJDB[ Z TFHVSBNFOUF DPOUSJCVZF B EJGVO EJSMPT -P IBDF DPO QFSJDJB MJUFSBSJB Z VOB QSPTB GS½B Z OFVUSBM &T EJ

G½DJM OP TFOUJS DJFSUB TJNQBU½B QPS 'SBO¸PJT Z UBOUPT JOGFMJDFT DPNP ¹M TPCSF MPT RVF TF BCBUF MB EFTHSBDJB TJO RVF BUJOFO B PGSFDFS MB NFOPS SFTJTUFODJB B VOPT BDPOUFDJNJFOUPT RVF DPNP EJS½B FM CVFOB[P EF .POTJFVS #PWBSZ QBSFDFO iMB GBMUB EF MB GBUBMJEBEw 1FSP UPEP FTUP FT QVSP FTQFKJTNP Z VOB WF[ DPODMVJEB MB NBHJB EF MB MFDUVSB DPOWJFOF DPUFKBS MB GJDDJÂO DPO FM NVOEP SFBM 7FSEBE RVF MB QPCMBDJÂO NVTVMNBOB FO 'SBODJB FT DPNQBSBUJ WBNFOUF MB N²T OVNFSPTB EF &VSPQB QFSP UBNCJ¹O RVF TF USBUB EF MB NFOPT JOUFHSBEB Z RVF MB UFOTJÂO Z WJPMFODJBT RVF B WFDFT FTUBMMBO FOUSF FMMB Z FM SFTUP EF MB TPDJFEBE TF EFCFO FO CVFOB QBSUF BM FTUBEP EF NBSHJOBDJÂO Z EFTBSSBJHP FO RVF TF FODVFOUSB 1PS PUSP MBEP FT JNQPSUBOUF SFDPSEBS RVF FM NBZPS OÈNFSP EF W½DUJNBT EFM UFSSPSJT NP EF MPT JTMBNJTUBT GBO²UJDPT TPO MPT QSPQJPT NVTVMNBOFT Z RVF QPS MP UBOUP QSFTFOUBS B FTUB DPNVOJEBE DPIFTJPOBEB F JOUFHSBEB QPM½UJ DB F JEFPMÂHJDBNFOUF DPNP IBDF MB OPWFMB EF )PVFMMFCFDR FT JSSFBM : UBNCJ¹O TVQPOFS RVF VOB EF MBT TPDJFEBEFT RVF FTU² N²T B MB WBO HVBSEJB FO FM NVOEP FO DVFTUJPOFT TPDJBMFT EF TFYP EF SFMJHJÂO EF H¹OFSP Z EFSFDIPT IVNBOPT FO HFOFSBM QPES½B JOWPMVDJPOBS IBDJB QS²DUJDBT NFEJFWBMFT DPNP MB QPMJHBNJB Z MB EJTDSJNJOBDJÂO EF MB NV KFS DPO MB GBDJMJEBE DPO RVF EFTDSJCF 4PVNJTTJPO 4FNFKBOUF DPOKF UVSB WB N²T BMM² EF DVBMRVJFS MJDFODJB QP¹UJDB : TJO FNCBSHP FOUSF UBOUBT NFOUJSBT IBZ VOBT WFSEBEFT RVF TF JOTJOÈBO Z QSFWBMFDFO FO FM MJCSP EF .JDIFM )PVFMMFCFDR 4PO MPT QSFKVJDJPT MB YFOPGPCJB Z MB QBSBOPJB RVF JOTQJSBO FTB TJOJFT USB GBOUBT½B BRVFMMB TFOTBDJÂO NFOUJSPTB EF RVF FM GVUVSP FTU² EF UFSNJOBEP QPS GVFS[BT DPOUSB MBT DVBMFT FM IPNCSF DPNÈO Z DP SSJFOUF FT JNQPUFOUF Z OP UJFOF PUSB PQDJÂO RVF MB EF BDBUBSMP P TVJDJEBSTF /P FT DJFSUP RVF MB MJCFSUBE OP FYJTUB Z MPT TFSFT IV NBOPT TFBO DJFHPT JOU¹SQSFUFT EF VO HVJÂO QSF FTUBCMFDJEP 4JFN QSF IBZ BMHP RVF TF QVFEF IBDFS QBSB FOGSFOUBSTF B EFSSPUFSPT BE WFSTPT 4J FM GBUBMJTNP RVF QPTUVMB 4PVNJTTJPO GSFOUF B MB IJTUPSJB GVFSB DJFSUP OVODB IBCS½BNPT TBMJEP EF MBT DBWFSOBT (SBDJBT B RVF FT QPTJCMF MB JOTVNJTJÂO IB IBCJEP QSPHSFTP 7JWJS DPO MB TFO TBDJÂO EF MB EFSSPUB FO MB CPDB DPNP WJWFO MPT QFSTPOBKFT EF FT UB OPWFMB EB VOB MBTUJNPTB JNBHFO EFM TFS IVNBOP 'SBO¸PJT BDB UB MP RVF DPOTJEFSB TV TJOP Z TF TPNFUF BM GJOBM EF MJCSP TF UJFOF MB TPTQFDIB EF RVF QFTF B TV TFDSFUB F JOWFODJCMF SFQVHOBODJB DPOUSB UPEP MP RVF PDVSSF UFSNJOBS² QPS DPOWFSUJSTF UBNCJ¹O EF NPEP RVF QVFEB WPMWFS B FOTFÁBS FO MB 4PSCPOB QSFQBSF MB FEJ DJÂO EF MB 1M¹JBEF EF MBT OPWFMBT EF + , )VZTNBOT Z BDBTP DPNP 3FEJHFS IBTUB TF DBTF DPO WBSJBT NVKFSFT .BESJE NBZP EF Ï .BSJP 7BSHBT -MPTB %FSFDIPT NVOEJBMFT EF QSFOTB FO UPEBT MBT MFOHVBT SFTFSWBEPT B &EJDJPOFT &- 1"¡4 4-

1&340/"+& +0# (3"/&-- ."(0

7JWJS EF MB NBHJB 3 1PS /PSNB (VUJ¹SSF[

FWFMBS MPT TFDSFUPT EF MB NBHJB DVBM RVJFSB MP QVFEF IBDFS 1FSP FKFDVUBS B MB QFSGFDDJÂO VO BDUP EF NBHJB BOUF NJMFT EF QFSTPOBT NVZ QPDPT +PC (SBOFMM FT VOP EF FTPT NBHPT Z SFDJFO UFNFOUF IB TJEP SFDPOPDJEP DPNP FM NBHP N²T WJT UP FO SFEFT TPDJBMFT B OJWFM -BUJOPBN¹SJDB QPS MB SF WJTUB FTQFDJBMJ[BEB i.BHJDw +PC (SBOFMM FT UBQBU½P Z TV HVTUP QPS FM NVOEP N²HJDP FT IFSFODJB EF TV QBESF FM .BHP +FSÂOJNP (SBOFMM RVJFO EFTQFSUÂ FO TV IJKP MB QBTJÂO QPS MPT USVDPT MB WPDBDJÂO EF FOUSFUFOFS BM QÈCMJDP EF TPS QSFOEFSMP Z EFKBSMP TJO QBMBCSBT DVBOEP MPT PCKFUPT BQBSFDFO Z EFTBQBSFDFO GSFOUF B TVT PKPT FO DVFT UJÂO EF TFHVOEPT (SBOFMM OP TPMBNFOUF HP[B EF QPQVMBSJEBE QPS TV NBFTUS½B BM NBOJQVMBS MBT DBSUBT Z FTQBEBT B TV BOUPKP FM NBHP UBNCJ¹O TF IB HBOBEP MB DPOGJBO[B EFM FTQFDUBEPS B USBW¹T EF EJWFSTPT QSPZFDUPT FO MPT RVF FKFDVUB TVT BDUPT FO MBT DBMMFT EF MB DJVEBE EF NBOFSB JOFTQFSBEB P B USBW¹T EF QSPHSBNBT EF UF MFWJTJÂO Z FTQFDU²DVMPT FO WJWP FO EÂOEF IBDF VTP EF MB UFDOPMPH½B N²T BWBO[BEB P SFJWJOEJDB MPT USV DPT N²T WJFKPT Z BSUFTBOBMFT 4PO BÁPT EF USBZFDUPSJB MPT RVF SFTQBMEBO FM QSFTUJHJP EF +PC (SBOFMM FM NBHP RVF EFTEF MB JO GBODJB EFGJOJÂ TV EFTUJOP QBSB DPOWFSUJSTF FO VOP EF MPT NFKPSFT NBHPT RVF SPNQJFSBO MBT GSPOUFSBT NFYJDBOBT BVORVF DPOGJFTB MB JORVJFUVE QPS TFS QBZBTP UBNCJ¹O TF WJTVBMJ[Â FO TV NFOUF i$VBOEP FSB OJÁP RVFS½B TFS NBHP EFTQV¹T RVJTF TFS QBZB TP QPS NJ IFSNBOP NBZPS QFSP B MPT BÁPT NF EF GJO½ QPS TFS NBHP &T BMHP RVF NF HVTUB &M QÈCMJDP QVFEF WJWJS TJO VO NBHP QFSP VO NBHP OP QVFEF WJ WJS TJO QÈCMJDP /P UF QVFEFT IBDFS NBHJB B UJ NJT NP QPS FTP TJFNQSF BOEBT CVTDBOEP RVJFO UF IB HB DBTP FTQFDJBMNFOUF DVBOEP WBT FNQF[BOEPw #BKP FTUB JEFB FT DPNP +PC TF IB DPOTBHSBEP FO QMBUBGPSNBT EF QSFTUJHJP EFOUSP EFM NVOEP EF MB NBHJB DPNQJUJFOEP FO MB 'FEFSBDJÂO *OUFSOBDJPOBM EF 4PDJFEBEFT .²HJDBT '*4. DPOTJEFSBEP FM NVOEJBM EF NBHJB Z IBTUB MB 'FEFSBDJÂO -BUJOP BNFSJDBOB EF 4PDJFEBEFT .²HJDBT '-"40." Z EF N²T DPOHSFTPT Z UPSOFPT FO EPOEF IB MMFWBEP PS HVMMP FM FTUBOEBSUF UBQBU½P EFTEF MPT PDIP BÁPT EF FEBE i%FTEF MPT BÁPT FNQFD¹ B USBCBKBS NF NBOEBCBO B GJFTUBT JOGBOUJMFT Z SFDVFSEP DMBSBNFO UF NJ QSJNFS USVDP FM EF DPQB DPOGFUJ FO FM RVF BM EFTUBQBS MB DPQB EFTBQBSFDF FM DPOGFUJ Z DVBOEP TF EFTBQBSFDJÂ NF TPSQSFOE½w 5BOUP MB UFMFWJTJÂO Z MB DBMMF IBO TJEP MPT FTQB

-B QBTJªO QPS MPT USVDPT EF NBHJB DPSSF QPS TVT WFOBT M FT IFSFEFSP EF VO BSUF IFDIP QBSB TPSQSFOEFS 4JO FNCBSHP UBNCJ O EFGJFOEF MB USBEJDJªO EFM PGJDJP &- */'03."%03 t 1 '3"/$0

>E K>MH4 ºBFIK>LBHG:K Aunque ahora la magia también ha evolucionado gracias a la tecnología y permite que los magos puedan ofrecer espectáculos manipulando artefactos como el láser, Job Granell puntualiza la forma en como el mago debe saber cómo presentar su show, cómo asombrar nuevamente al público aunque ya conozcan el truco. “Disfruto el creer que soy un mago muy bueno. Disfruto mi actuación y para ser mago tienes que ser buen actor (...) Lo malo es que aquí en Guadalajara la gente no reacciona tanto, es muy raro encontrar que alguien se sorprenda. Te puedes quitar la cabeza y solo te dicen, ¡ah, bravo! Pero si ves al público gringo, cuando el mago hace cualquier cosa la gente enloquece, se tira al piso, siempre hay esa comparación entre la calidad del mago mexicano y el estadounidense”.

DJPT EF USBCBKP EF +PC (SBOFMM TJO PMWJEBS MPT SJO DPOFT N²T CPIFNJPT DPNP MPT DBG¹T EF MB DJVEBE Z IBTUB MVHBSFT FNCMFN²UJDPT DPNP FM FTDFOBSJP EFM 5FBUSP (BMFS½BT

/P FT ÂDPTB EF OJ®PTÍ +PC TF IB IFDIP EF QSFTUJHJP Z UJFOF TVT SB[P OFT QBSB EFGFOEFS B DBQB Z FTQBEB FTUB QSPGFTJÂO EF MB RVF BTFHVSB FT NPNFOUP EF FOBMUFDFSMB OP TPMP QPS FM NJTUFSJP Z BTPNCSP RVF EFTQJFSUB FO FM QÈCMJDP TJOP QPS UPEP FM USBCBKP DSFBUJWP RVF IBZ EFUS²T EF DBEB BDUP EF NBHJB i"IPSJUB FTU² EF NP

EB FO :PV5VCF FODPOUSBS WJEFPT DPO MPT TFDSFUPT EF MPT BDUPT RVF IBDFO WFS B MB NBHJB DPNP BMHP NVZ G²DJM -B NBHJB FT N²T RVF VO TFDSFUP FT FO TBZP DSFBUJWJEBE PSJHJOBMJEBE Z TBCFSMP QSFTFOUBS BOUF FM QÈCMJDP 1JFOTP RVF B MB HFOUF RVF OP TF MF EB FTUP FT B MB RVF MF HVTUB BOEBS SFWFMBOEP MPT TF DSFUPT BDBCBS DPO MB NBHJBw 4J CJFO +PC OP FTU² FO DPOUSB EF RVF FTUBT iSF WFMBDJPOFTw TFBO VO NPUPS QBSB NPUJWBS FM OBDJ NJFOUP EF N²T NBHPT Z IBDFS B MB NBHJB N²T BDDF TJCMF SFDPOPDF RVF FT EF JNQPSUBODJB MB GPSNB FO MB DÂNP TF DPNQBSUFO FTUPT DPOUFOJEPT QBSB DVJEBS

KVTUBNFOUF FM FODBOUP OBUVSBM EF MB NBHJB QVFT BTFHVSB RVF NVDIPT EF FTUPT WJEFPT TF IBO FODBS HBEP EF IBDFSMF DSFFS BM QÈCMJDP RVF N²T BMM² EF NB HJB Z DSFBUJWJEBE FTUP TF USBUB GS½BNFOUF EF DJFODJB &M NBHP EJDF RVF IBZ TFDSFUPT iQFSP IBZ RVF TBCFS RVF B WFDFT QBSB DSFBS VO FGFDUP UF UBSEBT NF TFT FOTBZBOEP Z UPEP QBSB RVF BMHVJFO SFWFMF RVF FM USVDP TF HFOFSB P FTDPOEF EFTEF MB FTQBMEB P RVF UPEP TF BDUJWB KBMBOEP VO IJMP -B NBHJB FTU² EJTF ÁBEB QBSB FOUSFUFOFS Z RVJFO RVJFSB PUSB DPTB FT DIBOUBKF /P JNQPSUB TJ VO NBHP FT CVFOP P NBMP MP JNQPSUBOUF FT DÂNP UPNF FM BSUF Z MP SFTQFUFw

iÀ > ` Ê->Û>ÌiÀ

-B QBSBEPKB ZBOLJ " GJOBMFT EFM TJHMP QBTBEP EVSBOUF WBSJPT BÁPT QBT¹ QBSUF EFM WF SBOP FO MB 6OJWFSTJEBE EF .JEEMFCVSZ FO 7FSNPOU EBOEP DMBTFT EF DVMUVSB FTQBÁPMB FO VO BNCJFOUF FTQFDJBMNFOUF BNBCMF EF DBNQVT OPSUFBNFSJDBOP $PNP .JEEEMFCVSZ FT VO QVFCMFDJUP NJ OÈTDVMP QSPGFTPSFT Z BMVNOPT B WFDFT MPT TFHVOEPT FSBO NBZP SFT RVF MPT QSJNFSPT WFOUBKBT EF DVSTPT OP MJHBEPT B OJOHVOB DB SSFSB BDBE¹NJDB FO QBSUJDVMBS TPM½BNPT JS MPT T²CBEPT IBTUB #VSMJOHUPO DBQJUBM EFM &TUBEP FO CVTDB EF MVHBSFT EF EJWFSTJÂO N²T DPODVSSJEPT Z NFOPT FOEPH²NJDPT RVF MPT EF OVFTUSB MPDBMJ EBE 3FDVFSEP FO QBSUJDVMBS VOB EJTDPUFDB EF BNCJFOUF HBZ NVZ BOJNBEB EPOEF EF WF[ FO DVBOEP PDVQBCBO MB QJTUB EF CBJMF VO HSVQP EF BHVFSSJEBT MFTCJBOBT RVF TF MBT BSSFHMBCBO B FNQFMMPOFT QBSB MJNQJBSMB EF WBSPOFT JOEFTFBEPT BMHVOPT EF MPT DVBMFT EFT EF MVFHP PQPO½BNPT QPRV½TJNB SFTJTUFODJB #VSMJOHUPO FT VOB DJVEBE DPNP UPEP FM &TUBEP EF 7FSNPOU DPO VOB USBEJDJÂO QSPHSFTJTUB MP RVF FO 64" MMBNBO iMJCFSBMw %F BMM½ TBMJÂ FM WJDFQSFTJEFOUF EFNÂDSBUB )VCFSU )VNQISFZ Z PUSPT QPM½UJDPT EFNÂDSBUBT EF JEFBT N²T BWBO[BEBT &O MPT BÁPT

FO RVF FTUVWF DPNP QSPGFTPS FTUJWBM VOB EF TVT BUSBDDJPOFT DB TJ UVS½TUJDBT BVORVF GVFTF EF UVSJTNP QPM½UJDP FSB TV BMDBMEF #FS OJF 4BOEFST BM RVF OPT QSFTFOUBCBO DPO VOB NF[DMB EF PSHVMMP F JSPO½B MPT OBUJWPT DPNP FM ÈOJDP TPDJBMJTUB DPOWJDUP Z DPOGFTP EFM QB½T &SB VO KVE½P OP QSBDUJDBOUF Z CJFO QSFQBSBEP JOUFMFD UVBMNFOUF QBSUJEBSJP EF UPEBT MBT DBVTBT QSPHSFTJTUBT RVF TF QMBOUFBCBO QPS BRVFMMB ¹QPDB 4V GPUP SFTJTUJ¹OEPTF B MB QPMJD½B FO VOB EF MBT NBOJGFTUBDJPOFT DPOWPDBEBT QPS .BSUJO -VUIFS ,JOH OPT FNPDJPOBCB B RVJFOFT UVWJNPT WFJOUF BÁPT FO FM 4BOEFST GVF SFFMFHJEP USFT WFDFT QBSB BMDBMEF Z EFTQV¹T TF DPO WJSUJÂ FO TFOBEPS QFSQFUVP EF 7FSNPOU "M WFSMF BIPSB DPNP BT QJSBOUF B MBT QSJNBSJBT EFNÂDSBUBT QBSB MBT FMFDDJPOFT QSFTJEFO DJBMFT SFDPOP[DP RVF IF UFOJEP UPEB VOB WFOUPMFSB EF OPTUBMHJB FO MP QFSTPOBM Z FO MP QPM½UJDP &T TVNBNFOUF JNQSPCBCMF RVF #FSOJF 4BOEFST HBOF MB OPNJ OBDJÂO EFNÂDSBUB QFSP UBNCJ¹O FT JOEVEBCMF RVF TV QSFTFODJB IB NBSDBEP FTUPT DPNJDJPT IB QMBOUFBEP UFNBT EF MPT RVF TVFMF IBCMBSTF QPDP Z IB iFNQVKBEPw MB DBOEJEBUVSB EF )JMMBSZ $MJOUPO

RVF FT BNJHB TVZB IBDJB QPTJDJPOFT N²T SBEJDBMFT EF MP RVF TJO TV JOGMVFODJB IVCJFSB QSFGFSJEP MB DBVUB FY QSJNFSB EBNB .²T BMM² EF TVT QPTJDJPOFT FO DVFTUJPOFT TPDJBMFT 4BOEFST SFQSFTFO UB VOB OPWFEBE BÈO N²T TPSQSFOEFOUF FO FM QBOPSBNB QSFTJEFO DJBM 64" FM TFS VO DBOEJEBUP BHOÂTUJDP RVF OP TF DPOTJEFSB OJ SF QSFTFOUBOUF EF %JPT FO MB UJFSSB OJ TF JOTQJSB FO MB #JCMJB DPNP WBEFN¹DVO EF CVFOB HPCFSOBO[B &O DVBMRVJFS DBTP FTUBT QSJ NBSJBT FTU²O TJFOEP BMHP WFSEBEFSBNFOUF JOTÂMJUP FO FM KVFHP QP M½UJDP USBEJDJPOBM EFM QB½T QPS VO MBEP FTU² FM BDJBHP BTDFOTP EF %POBME 5SVNQ RVF SFQSFTFOUB MB QFSNBOFODJB EF MPT SBTHPT N²T GBOGBSSPOFT DIPWJOJTUBT Z BOUJ JMVTUSBEPT B MPT RVF MB DSJTJT FDP OÂNJDB Z FM UFSSPSJTNP ZJIBEJTUB IBO EBEP VO UFNJCMF SFGVFS[P 1FSP QPS PUSP MBEP IFNPT WJTUP FO MJ[B QPS WF[ QSJNFSB B VOB NV KFS VO KVE½P TPDJBMJTUB Z EFDJEJEBNFOUF MBJDP KVOUP B EPT DBOEJ EBUPT EF PSJHFO MBUJOP &TUBEPT 6OJEPT FT VO QB½T DVZBT JOTUJUV DJPOFT BÈO QFSNJUFO TPSQSFTBT TFB QBSB MP NFKPS P MP QFPS 5BM FT MB QBSBEPKB ZBOLJ Ï '&3/"/%0 4"7"5&3 &%*$*0/&4 &- 1"¡4 4-

1~(*/" #

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

%PNJOHP EF NBZP EF

>À >Ê*> >À

Ê /1, -ÊÊ 6 , 5PEP FM BÁP TF IBO WFOJEP DFMFCSBOEP FO MB (SBO #SFUBÁB MPT OPWFO UB BÁPT EF MB SFJOB *TBCFM ** OBDJEB FO BCSJM EF 3FJOBCB FOUPO DFT TV BCVFMP +PSHF 7 Z FMMB PDVQÂ FM UFSDFS QVFTUP FO FM FM PSEFO EF TVDFTJÂO EFTQV¹T EF TV U½P FM QS½ODJQF EF (BMFT Z EF TV QBESF FM EV RVF EF :PSL -VFHP EF MB BGPSUVOBEB BCEJDBDJÂO EF TV U½P EFGJOJUJWB NFOUF TJO QJFSOBT EF KJOFUF QBSB IBDFS FM QBQFM EF NPOBSDB *TBCFM QBTÂ B TFS IFSFEFSB EJSFDUB EFM USPOP BIPSB PDVQBEP QPS TV QBESF +PSHF 7* M NVSJÂ FO NVZ MMPSBEP QPS MPT JOHMFTFT TPCSF UPEP QPS TV BDUVBDJÂO EVSBOUF MB 4FHVOEB (VFSSB NVOEJBM F *TBCFM GVF DPSPOBEB FO KVOJP EF 5BNCJ¹O FO QFSP FO PDUVCSF TF QVCMJDÂ FM QSJNFSP EF MPT MJCSPT EFM PTJUP 8JOOJF UIF 1PPI FTDSJUP QPS "" .JMOF JMVTUSBEP QPS &) 4IFQBSE Z EFEJDBEP B MB SFDJ¹O OBDJEB QSJODFTB *TBCFM 8JO OJF UIF 1PPI FT iVO 0TP EF 1PRVJUP 4FTPw RVF WJWF DPO TV EVFÁP

>À ÃÊ ÀÌjÃÊ6?âµÕiâ

6 - $ ÊÊ 9Ê - $ &T JNQSFTDJOEJCMF FM UFNB FMFDUPSBM DPNQSFOEJEP FO FTUBEPT EF MPT DVBMFT FMFHJS²O HPCFSOBEPS FM QSÂYJNP EPNJOHP EF KVOJP &M DBQJUBM QPM½UJDP FTU² GSBDDJPOBEP FO MPT QBS UJEPT DPO BMJBO[BT EJWFSTBT FO MBT RVF TF NFODJP OB OP TFS BKFOP FM DSJNFO PSHBOJ[BEP Z FM OBSDP US²GJDP DPNP TF IB EFOVODJBEP FYJTUFODJB FO MBT FOUJEBEFT DPO WFSUJFOUF BM (PMGP EF .¹YJDP 5B NBVMJQBT Z 7FSBDSV[ -P EFMJDBEP FT MB JODSFEVMJEBE EF JOGMVZFOUF EFTDPOGJBO[B QPS QBSUF EFM FMFDUPS BM RVF TF JODMJ OB Z DPOWFODF DPO OPNCSFT Z BDUJUVEFT TJO FM GVO EBNFOUP EF QSPQVFTUBT Z QSPZFDUPT DPODSFUPT QB SB BCBUJS GFOÂNFOPT DPNP MB JOTFHVSJEBE GBMUB EF FNQMFP Z DBSFODJBT FDPOÂNJDBT &O FTF FTDFOB SJP MPT QBSUJEPT UJFOFO EFUFSJPSP HFOFSBEP QPS GSFDVFOUFT BUBRVFT Z EFOVODJBT FOUSF MPT NJTNPT DPO FM DMBSP QSPQÂTJUP EF PCUFOFS FM GBWPS EF VOB NJOPS½B SFMBUJWB " TV WF[ FM EFTQSFTUJHJP RVF EB FM FNQMFP EF MB BVUPSJEBE FO DVBMRVJFSB EF TVT GPSNBT FT FNQMFB EP QPS MBT OVFWBT DPSSJFOUFT EF HSVQPT MMBNBEPT iJOEFQFOEJFOUFTw RVF FO DBTPT DPNP /VFWP -FÂO OP IBO MPHSBEP FM DPOWFODJNJFOUP B USBW¹T EF MBT QFSTPOBT FO FM QPEFS FOGSFOUBOEP DMBSB PQPTJDJÂO EF HSVQPT F JOTUJUVDJPOFT -PT BQVOUFT BOUFSJPSFT EFNVFTUSBO MB JNQPS UBOUF GSBHJMJEBE EF MBT FMFDDJPOFT EFM QSJNFS EPNJO HP EF KVOJP DPNP FM UFSNÂNFUSP RVF NVFTUSF MB UFNQFSBUVSB TPDJBM Z DPO FMMB MPT EJTQPTJUJWPT QPS QBSUF EF USJVOGBEPSFT Z EFSSPUBEPT FO MB QSPQPSDJÂO DPSSFTQPOEJFOUF RVF GBWPSF[DB TV QPTJDJÂO FO FM BÁP DPO FMFDDJPOFT EF MPT NJFNCSPT EFM

À > ` Ê â? iâÊ ÃV Ì

"-Ê " ", -ÊÊ

Ê/ *" *OHMBUFSSB GVF TFEF EF VOB DVNCSF BOUJ DPSSVQ DJÂO .¹YJDP FOWJÂ DPNP SFQSFTFOUBOUF B VO GVO DJPOBSJP DVZB QSFTFODJB FSB ZB UPEP VO NFOTBKF BDFSDB EF MP RVF FM HPCJFSOP QJFOTB BM SFTQFDUP *H OPSP DV²M TFB FM HSBEP BDUVBM EF DPSSVQDJÂO FO MB (SBO #SFUBÁB T¹ IBTUB EÂOEF IBO MMFHBEP FO FM QB TBEP QFSP FT FWJEFOUF QPS UFTUJNPOJP EF NVDIPT RVF FMMPT T½ IBO MPHSBEP JS TVQFSBOEP TV QFSTPOBM iDVMUVSB EF MB DPSSVQDJÂOw &M U¹SNJOP TVFOB B MVHBS DPNÈO FT EF FTBT GSBTFT BDVÁBEBT QPS BMHVJFO Z MVFHP SFQFUJEBT QPS NVDIPT TJO TJRVJFSB EFUFOFSTF B QFOTBS FO TV TJH OJGJDBEP &O OVFTUSP QB½T DVBMRVJFS DPTB RVF TF DV CSB DPO FM NBOUP EF MP DVMUVSBM EF JONFEJBUP TF WVFMWF JOWVMOFSBCMF QFSNBOFOUF JOBCBUJCMF Z IBTUB GPMLMÂSJDP QPS MP UBOUP EJHOP EF SFTQFUP N² YJNF TJ BQPSUB EJWJEFOEPT 2VF VOB HSBWF MBDSB TPDJBM QVFEB DPOWFSUJSTF FO iDVMUVSBw TPMP QVFEF FYQMJDBSTF TJ QPS DVMUVSB TF FOUJFOEF VO FTUJMP EF WJEB QFSP VO FTUJMP EF WJ EB CBTBEP FO MB DPSSVQDJÂO QPS NVZ DVMUVSBM RVF TVFOF FT BCFSSBOUF %FTEF RVF MB IVNBOJEBE FYJTUF FM EFMJUP PDVSSF FTP FT VO GFOÂNFOP EF OJO HVOB NBOFSB VOB DVMUVSB 2VF FO UPEPT MPT QB½TFT TF EB MB DPSSVQDJÂO FT UBNCJ¹O VO GFOÂNFOP QFSP TF EB FO EJWFSTP HSBEP B UFOPS EFM HSBEP EF EFTBSSPMMP EF TV TJTUF NB EF HPCJFSOP EF TV TJTUFNB EF KVTUJDJB Z EF MB NJTNB TPDJFEBE FM WFSEBEFSP QSPCMFNB PDVSSF DVBOEP FM QSPQJP HPCJFSOP OP TPMBNFOUF FT QBSUF EF MB DPSSVQDJÂO TJOP RVF MB DPOWJFSUF FO TV NBOF SB IBCJUVBM EF GVODJPOBNJFOUP 2VF VO GVODJPOBSJP EFM N²T BMUP OJWFM BQBSF[ DB FO EJWFSTBT OÂNJOBT DPO MPT FNQMFPT N²T JO

%PT OPOBHFOBSJPT $ISJTUPQIFS 3PCJO KVOUP B VO CPTRVF NVZ HSBOEF Z UJFOF NVDIPT BNJHPT )B TJEP EFTEF IBDF OVFWF E¹DBEBT VO QFSTPOBKF GBWPSJUP EF HFOFSBDJPOFT Z HFOFSBDJPOFT EF OJÁPT EF UPEP FM NVOEP -PT DVBUSP MJCSPT RVF GPSNBO MB TFSJF EF .JMOF Z 4IFQBSE FTU²O USBEVDJEPT B MB NBZPS QBSUF EF MPT JEJPNBT -B WFSTJÂO MBUJOB EF 8JOOJF UIF 1PPI 8JOOJF JMMF 1PPI EF FT FM ÈOJDP MJCSP FO MBU½O RVF IB GJHVSBEP FO MB MJTUB EF CFTU TFMMFST EFM /FX :PSL 5JNFT " QFTBS EF RVF FO MB E¹DBEB EF MPT TFTFOUB MPT FTUVEJPT %JT OFZ MP TFDVFTUSBSPO Z MP USBJDJPOBSPO DPO EJCVKPT IPSSFOEPT Z BDFO UPT HSJOHPT QPS GPSUVOB TF NBOUJFOF MB SFQSPEVDDJÂO EF MPT MJCSPT PSJHJOBMFT Z EF NVDIPT KVHVFUFT Z PCKFUPT RVF DPOTFSWBO MPT FYUSBPS EJOBSJPT EJCVKPT EF 4IFQBSE "IPSB QBSB DFMFCSBS MBT OVFWF E¹DBEBT EF WJEB EF MB 3FJOB Z EF TV DPFU²OFP FM 0TP TF BDBCB EF QSPEVDJS VO OVFWP DVFOUP 8JO

<c gifZ\jf \c\ZkfiXc j`e^lcXi 1PEFS -FHJTMBUJWP DPO QMVSJOPNJOBMFT 1SFTJ EFOUF EF MB 3FQÈCMJDB HPCFSOBEPSFT MFHJTMBEPSFT Z QSFTJEFOUFT NVOJDJQBMFT RVF FO DPOKVOUP EFO GPS NB Z DVSTP BM EFTUJOP EFM TFYFOJP JONFEJBUP Z QS²D UJDB B QBSUJS EFM BÁP -B DPCFSUVSB NFEJ²UJDB DPOWFODJPOBM TF PC TFSWB DPNQMFKB DPO MB QBSUJDJQBDJÂO BDUJWB EF MBT SF EFT TPDJBMFT EPOEF TF EFTFOWVFMWFO MBT OVFWBT HF OFSBDJPOFT BM JNQVMTP EF NPUJWBDJPOFT QSPQJBT Z BKFOBT JOGMVZFOUFT FO EFDJTJPOFT QSPEVDUPSBT EF SFDMBNPT FYQPOFOUFT EF JODPOGPSNJEBE B MPT RVF UBNQPDP SFTVMUBO BKFOPT MPT JOUFSFTFT EF MBT GBDDJP OFT QPM½UJDBT USBEJDJPOBMFT FO BMHVOPT DBTPT UBN CJ¹O GSBDDJPOBEBT Z PUSBT EF OVFWB FTUSVDUVSB DPO FTUSVFOEPTBT FYQSFTJPOFT EF FWFOUVBM DBVTB Z DPO TFDVFODJB NBOJQVMBEBT 6O TFYFOJP BUS²T FM QSPDFTP FMFDUPSBM FO MPT FT UBEPT IBCS½B EF WFSTF DPNP BMHP UBO TFSJP DPNP SFT QFUBCMF "IPSB UJFOF FGFDUP USBTDFOEFOUF IBDJB FM SFTUP EFM QB½T B QBSUJS EF DVBMRVJFS SFTVMUBEP -B QSFWJTJÂO SFDMBNB QSFWFODJÂO JONFEJBUB SFTQFDUP B FTUBT FMFDDJPOFT EFM EPNJOHP WFOJEFSP DVJEBOEP FM EFTUJOP EFM WPUP Z EF TFS QPTJCMF JOGMVJS FO TV FNJTJÂO QSFWJB DPOTJEFSBDJÂO DVJEBEPTB EFM TVGSB HJP FO GBWPS EF RVJFO SFÈOB MBT DPOEJDJPOFT EF SFT QPOTBCJMJEBE IPOFTUJEBE Z DBQBDJEBE QBSB FMFWBS MB OFDFTJEBE EF MB QPCMBDJÂO BM SBOHP JNQFSBUJWP EF SFBMJ[BDJÂO FO FM QMBOP EFM CFOFGJDJP FO MJCFSUBE Z QB[ QBSB MB USBORVJMJEBE %JPT OPT HVBSEF EF MB EJTDPSEJB TJDQN!JOGPSNBEPS DPN NY

-B DPSSVQDJªO DPNP DVMUVSB DPNQBUJCMFT RVF VTF TV QPEFS QBSB SFQBSUJS QSF CFOEBT FOUSF UPEP UJQP EF QFSTPOBT JOFQUBT RVF BCVTF EF TVT TVCBMUFSOPT DPO UPEP UJQP EF BSUJNB ÁBT Z RVF BDUVBS BT½ MFT QBSF[DB EF MP N²T OBUVSBM Z MÂHJDP FTP FT IBCFS MMFHBEP IBTUB FM GPOEP EF MB DPSSVQDJÂO /P IBZ VOB DVMUVSB EF MB DPSSVQDJÂO MB DP SSVQDJÂO OP QVFEF TFS OJ IBDFSTF DVMUVSB QPS NVZ DPNÈO RVF TFB FO UPEP DBTP MP RVF IBZ FT VO TJT UFNB EF CBOEBT EFMJDUJWBT FTDBMPOBEBT RVF TF QSPUFHFO VOBT DPO PUSBT QFSP B FTP OP TF MF MMBNB DVMUVSB TJOP NBGJB 5BNQPDP QPEFNPT BGJSNBS RVF IBZB FO .¹ YJDP VO QBSUJEP QPM½UJDP QBSUJDVMBSNFOUF DPSSVQ UP FO UPEP DBTP IBZ QBSUJEPT RVF QPS UBOUP UJFN QP IBO BIPOEBEP FO MB DPSSVQDJÂO RVF ZB TJO FMMB MFT QBSFDF RVF OP QVFEFO PQFSBS Z FTB SFBMJEBE FT U² B MB WJTUB EF UPEPT UBNCJ¹O EF TVT QSPQJPT DPMB CPSBEPSFT RVF UPEPT MPT E½BT WJWFO MB JNQPUFODJB EF UFOFS RVF TPNFUFSTF BM TJTUFNB QBSUJDVMBSNFO UF DVBOEP DBNCJB FM QBSUJEP FO FM HPCJFSOP Z NF EJP NVOEP FT EFTQFEJEP DPO P TJO N¹SJUPT QPSRVF FM RVF MMFHB USBF FM DPNQSPNJTP EF QBHBS DPO DIBNCBT MPT BQPZPT P MPT BGFDUPT $IJOB MPHSÂ DPOTUJUVJSTF FO VOP EF MPT JNQF SJPT N²T EVSBEFSPT EF MB IJTUPSJB KVTUBNFOUF QPS RVF FTUSVDUVSÂ EFTEF MB BOUJHÊFEBE VO TJTUFNB EF BENJOJTUSBDJÂO BM RVF TPMBNFOUF TF QPE½B JOHSFTBS MVFHP EF QSPMJKPT FY²NFOFT DVBMRVJFS DPSSVQUFMB EFNPTUSBEB FO FM QSPDFTP TF QBHBCB DPO QFOB EF NVFSUF Z BOUF FM SJHPS JOFYPSBCMF EF MB TBODJÂO OP IBC½B iDVMUVSB EF MB DPSSVQDJÂOw RVF TPCSFWJWJFTF BSNBOEP HPO!VOJWB NY

, Ã>Ê ÌiÀ

1BSFDF RVF ZB OP OPT JOUFSFTB FM TJEB QFSP SFTVMUB RVF FO FM NVOEP IBZ NJMMPOFT EF QFSTPOBT JOGFDUBEBT QPS 7*) &TUF QMBOFUB HSBOEF IJQFSQPCMBEP Z DBÂUJDP FO FM RVF WJWJNPT FTU² MMFOP EF QSPCMFNBT BDVDJBOUFT 1FSP QPS PUSP MBEP UBNCJ¹O FYJT UF VO OÈNFSP JODBMDVMBCMF EF QFSTPOBT CVFOBT EF HFOUF RVF EFEJDB TV WJEB B JOUFOUBS NFKPSBS VOB QFRVFÁB QBSDFMB EFM QBEFDJNJFOUP HMP CBM 1PSRVF FTB FT MB ÈOJDB NBOFSB EF QPEFS JODJEJS FO MB IJTUPSJB Z FO FM NVOEP BTVNJFOEP PCKFUJWPT DPODSFUPT FTDPHJFOEP UV NPEFT UP DBNQP EF CBUBMMB &TP FT MP RVF IBDF QPS FKFNQMP MB EPDUPSB GSJDB )PMHV½O FO FM IPTQJUBM 3BNÂO Z $BKBM EF .BESJE GSJDB Z TVT TJFUF DPMBCPSBEPSFT DBTJ UPEPT KPWFOD½TJNPT DPOGPSNBO FM -BCPSBUPSJP EF &QJEFNJPMP H½B .PMFDVMBS EFM 7*) EFM TFSWJDJP EF .JDSPCJPMPH½B EFM *OTUJUVUP 3B NÂO Z $BKBM EF *OWFTUJHBDJÂO 4BOJUBSJB &T VO U½UVMP MBSHV½TJNP ZP EJS½B RVF N²T MBSHP RVF TV DBQBDJEBE EF GJOBODJBDJÂO QPSRVF DPNP TVFMF TVDFEFS DPO MB JOWFTUJHBDJÂO FO &TQBÁB UBOUP MB EJSFDDJÂO EFM IPTQJUBM DPNP MB EPDUPSB )PMHV½O TF MBT WFO Z TF MBT EFTFBO QBSB DPO TFHVJS GPOEPT &TUF BÁP MB GPSNJEBCMF BTPDJBDJÂO #PNCFSPT "ZVEBO IB MPHSBEP SFDBVEBS NJM FVSPT QBSB FMMPT QFSP OP FT CBTUBOUF 1BSFDF RVF ZB OP OPT JOUFSFTB FM TJEB P BM NFOPT BQFOBT OPT JO UFSFTB FO MPT QB½TFT JOEVTUSJBMJ[BEPT QFSP SFTVMUB RVF TFHÈO DJGSBT

OJF UIF 1PPI Z FM DVNQMFBÁPT SFBM FTDSJUP QPS +BOF 3JPSEBO F JMVT USBEP QPS .BSL #VSHFTT 7BMF MB QFOB WFSMP FO JOUFSOFU FTU² DPNQMF UP BT½ DPNP MB FOUSFWJTUB DPO MB FTDSJUPSB FO MB ##$ 3JPSEBO FTDSJ CF DPO UBMFOUP Z QPS DPNQMFUP FO MB WFOB EF .JMOF DPO GJEFMJEBE B MPT QFSTPOBKFT Z TVT QFDVMJBSJEBEFT RVF TPO NVDIBT TPO CSJU²OJDPT MBT JMVTUSBDJPOFT TPO QSFDJPTBT Z NVZ BQFHBEBT BM FTUJMP EF 4IFQBSE "MM² FO FM CPTRVF HSBOEF $ISJTUPQIFS 3PCJO QBSUJDJQB B 1PPI Z TVT BNJHPT RVF TFS² FM DVNQMFBÁPT EF MB 3FJOB Z TVHJFSF RVF IBZ RVF QSFQBSBSMF VO SFHBMP -VFHP EF EBSMF NVDIBT WVFMUBT EFDJ EFO RVF MP NFKPS TFS² VOB DBODJPODJUB EF MBT RVF DPNQPOF FM 0TP Z VO HMPCP SPKP QBSB BMFHSBSMF MPT E½BT HSJTFT &M #ÈIP FTDSJCF MP RVF MF EJDUB 1PPI Z FM NBOVTDSJUP TF FOSPMMB Z TF BEPSOB DPO GMPSFDJUBT $ISJTUPQIFS 3PCJO 1PPI 1JHMFU Z FM QFTJNJTUB CVSSJUP &FZFPSF WJB KBO FO VO USFO IBTUB -POESFT RVF RVFEB MFK½TJNPT Z FT VOB DJVEBE CBTUBOUF BTPNCSPTB &O MB FTUBDJÂO 7JDUPSJB TF TVCFO B MB QBSUF EF BSSJCB EF VO DBNJÂO DPMPSBEP RVF MPT QBTFB $POPDFO 5SBGBMHBS 4RVBSF FM #JH #FO Z GJOBMNFOUF MMFHBO BM QBMBDJP EF #VDLJOHIBN IUUQ B EJMDEO DPN CM XQ DPOUFOU VQMPBET TJUFT 8JOOJF UIF 1PPI BOE UIF 3PZBM #JSUIEBZ QEG IUUQ XXX CCD DPN OFXT FOUFSUBJONFOU BSUT

>À ÃÊ À }Õi

9 ,ÊÊ

Â%F VOJPOFT EJTDSJNJOBUPSJBTÃ

(SBO BSHÊFOEF TF IB QSPEVDJEP QPSRVF OVFT QPSUF RVF BMHVJFO TF QVFEB DBTBS DPO RVJFO USP BENJSBEP QSJNFS NBOEBUBSJP NBOEÂ VOB RVJFSB P DPO RVJFO QVFEB NJ JORVJFUVE FT QPS JOJDJBUJWB MP RVF OP FT EF FYUSBÁBS TJ KV[HBNPT RV¹ EFNPOJPT FM FTUBEP UJFOF RVF SFHVMBSNF FM QPS MB DBOUJEBE EF JOJDJBUJWBT RVF IB NBOEBEP NBUSJNPOJP WBNPT QPS RV¹ OJOHVOB FOUJEBE OP T¹ TJ IB IBCJEP PUSP QSFTJEFOUF DPO N²T EJB MM²NFTF DPNP TF MMBNF UJFOF RVF EFDJSNF DPNP DPIBCJUF DPO VOB P WBSJBT QFSTPOBT SSFB MFHJTMBUJWB RVF ¹TUF QFSP FOUJFOEP RVF MPT RVF TPNPT QSBDUJ OVFTUSP RVFSJEP Z HVBQP UMBUPBOJ DBOUFT EF VOB SFMJHJÂO Z ¹TUB UFOHB EFCF EF FTUBS DVBOEP NFOPT FO FM /> « V Ê« `À?ÊÊ SJUPT NBUSJNPOJBMFT UF DBTFT CBKP UPQ GJWF 1VFT B MB RVF NF SFGJFSP FT MB RVF PSEFOB DBNCJPT RVF MPT ÕÃÌi`ÊV>Ã>ÀÃiÊÃ ÊÊ FTF SJUP QFSP QPSRVF RVJFSFT OP QPSRVF UJFOFT MFHJTMBEPSFT PCFEFDFS²O TBMWP ÃÕÊV ÞÕ}iÊ RVF FM NVOEP TF BDBCF 6OPT DSF "T½ B NJ NF QBSFDF QSPGVOEB ÊiÃÊV Ã> }Õ i Ê`iÊ NFOUF EJTDSJNJOBUPSJB FM MMBNBEP FO FTUVWP NVZ CJFO PUSPT QFOTB S²O FTUVWP NVZ NBM " MB NBZPS½B ÕÃÌi`]ÊÞÊ Ì>ÀÊ>ÊÊ NBUSJNPOJP JHVBMJUBSJP QPSRVF FO MF WBMES² CPOFUF Z TFHVJS²O WJWJFO T½ NJTNB DPOMMFWB WBSJBT EJTDSJNJ >Ê}i ÌiÊµÕiÊ iÊÊ EP DPNP TJ MB DJUBEB OPSNB OVODB OBDJPOFT QPS FKFNQMP TJ VTUFE FT IVCJFSB FYJTUJEP }ÕÃÌi ÊÃÕÃÊ«>À i ÌiÃÊÊ NFOPS EF FEBE QVFT BVORVF RVJF /P WPZ OJ B PQJOBS EFM UFNB OJ SB DPOUSBFS NBUSJNPOJP OP QPES² iÃÊÕ >Êv À >ÊÊ B GBWPS OJ FO DPOUSB EF TV NPSBMJ EF NBOFSB RVF TF TVQPO½B JCB B MJ EBE /P FT FM UFNB RVF RVJFSP USB CFSBS B MB HFOUF EF QSFKVJDJPT QBSB `iÊ` ÃVÀ >V Ê UBS BVORVF UFOHB BMHVOB SFMBDJÂO DBTBSTF TVCTJTUF DVBOEP NFOPT FO QFSP SFJUFSP OP JOUFSFTP OJ KV[HP FM DBTP EF MPT NFOPSFT EF FEBE FO EJDIBT VOJPOFT Z SFNJUP B BRVFMMP RVF FTDSJ UBNQPDP QPES² DBTBSTF TJ OP IB SFDJCJEP VO CJÂ EPO -VJT ( 6SCJOB FO TV PCSB EF UFBUSP i$B DVSTP QSFNBUSJNPOJBM FO VOB FOUJEBE UBO JOÈ EB RVJFO TV WJEBw RVF TJ OP NBM NF BDVFSEP TF UJM DPNP FT FM %*' OJOHÈO BDUP EFM %*' IB GPS USBUBCB EF VO GJO EF BÁP FO VO DBCBSFU UBMFDJEP B OBEJF 5PEP FNQF[Â VO E½B RVF MB USFNFOEB DPS 5BNQPDP QPES² VTUFE DBTBSTF TJ TV DÂO UF RVF ZB TBCFNPT RVF FT DPNP MB DIJNPMUSVGJB ZVHF FT DPOTBOHV½OFP EF VTUFE Z MJNJUBS B MB RVF FMMPT DPNP EJDFO VOB DPTB EJDFO MB PUSB EJ HFOUF B RVF MF HVTUFO TVT QBSJFOUFT FT VOB GPS KFSPO RVF SFTVMUBCB EJTDSJNJOBUPSJP RVF EPT NB EF EJTDSJNJOBDJÂO &TUBS² QSPIJCJEP UBN QFSTPOBT EFM NJTNP H¹OFSP P N²T CJFO EJDIP B CJ¹O RVF VTUFE TF DBTF TJ UJFOF VO NBUSJNPOJP RVJFO TF MF QFHBSB MB HBOB OP TF QVEJFSB DBTBS TVCTJTUFOUF DPTB RVF MJNJUB UBNQPDP QPES²O DPO PUSP BM RVF MF QFHBSB TV HBOB &TUP IB QSP DBTBSTF FOUSF NVDIPT EVDJEP VOB DBOUJEBE C²SCBSB EF EJTDVTJPOFT EF 1PS FTP TVHJFSP FO MVHBS EF SFHVMBS FM DÂ HFOUF RVF UJFOFO HBOBT EF FOPKBSTF DPO FM PUSP EJHP RVF RVJUFO EF MPT NJTNPT MBT SFHMBT NB Z RVF OVODB MF WBO B DPOWFODFS USJNPOJBMFT Z RVF DBEB RVJFO TF BZVOUF DPNP 1FSP DPNP FYÂUJDP RVF TPZ B NJ FM QSPCMF RVJFSB NB NF EB QPS PUSP MBEP Z B N½ OP FT RVF NF JN !DBSMPTNPSTB

Õ iÀ Ê i > >ÀÞ

8* ", "ÊÊ Ê 1 "

Cfj hl\ ZfdgiXe f]\ikXj .VDIBT QFSTPOBT RVF TVGSFO EFM T½OESPNF EFM UB DBÁP FT EFDJS DVBOEP B QFTBS EF UFOFS TVGJDJFOUF EJOFSP QSFGJFSFO OP HBTUBSMP FO DPTBT CVFOBT Z TF GBTDJOBO QPS DPNQSBS TÂMP PGFSUBT :B WJNPT B MPT DPNQSBEPSFT DPNQVMTJWPT QVFT FM iDPNQSBPGFSUBTw TJ NF QFSNJUFO FTB FY QSFTJÂO FT QBSUF EF VOB DPNQVMTJÂO QPS DPNQSBS TPMP MP RVF DPOTJEFSB CBSBUP P RVF QPS BMHVOB SB [ÂO MB UJFOEB MP QPOF FO EFTDVFOUP -B DVFTUJÂO FT RVF TF GBTDJOB DPO TVT DPN QSBT FO EFTDVFOUP Z MP TJFOUF DPNP VO HSBO USJVOGP QBSB TV FDPOPN½B Z TV NFOUBMJEBE 1PS RVF BEFN²T OP WB B DPNQSBS DBTJ OBEB IBTUB RVF OP MP UFOHBO FO PGFSUB -F FODBOUBO MBT TFDDJPOFT EF QVCMJDJEBE DPO PGFSUBT Z FTU² EJTQVFTUP B DPNQSBS QBRVFUFT EF QSPEVDUPT DPO UBM EF OVUSJS TV GBTDJOBDJÂO QPS FM BIPSSP 4PO GFMJDFT QSFTVNJFOEP RVF BERVJSJÂ BM HP NVZ CVFOP Z GJOP QFSP MF TBMJÂ CBSBUP DPNP TJ GVFSB VO USPGFP )BTUB MMFHBO B QSFHVOUBS {$V²OUP DSFFT RVF NF DPTUP FTUP : MF BMFHSB DVBOEP BMHVJFO EJDF DJGSBT BMUBT QBSB FM EFDJS RVF MF DPTUÂ NVDIP NFOPT $PNP TJ GVFSB VOB NVFT

5V NPEFTUP DBNQP EF CBUBMMB EF FO FM NVOEP IBZ NJMMPOFT EF QFSTPOBT JOGFDUBEBT QPS 7*) Z NJMMPOFT TPO DS½PT NFOPSFT EF BÁPT "M BÁP NVFSFO NJM OJÁPT QPS FTUB DBVTB GVOEBNFOUBMNFOUF FO FM GSJDB TVCTBIB SJBOB $BEB E½B TF JOGFDUBO NJM OJÁPT OVFWPT MB NBZPS½B BM OBDFS EV SBOUF FM QBSUP P MB MBDUBODJB Z TJO USBUBNJFOUP MB NJUBE EF FMMPT GBMMF DFS² BOUFT EF DVNQMJS MPT BÁPT &T VO QBOPSBNB BUFSSBEPS Z TJNQMFNFOUF TF OPT IB CPSSBEP EF MB DBCF[B 1BSB RVF OP NVFSBO FT OFDFTBSJP QPEFS EJBHOPTUJDBSMPT FO MBT QSJNFSBT TFNBOBT EF WJEB MVFHP NFEJDBSMPT MP N²T QSPOUP QPTJCMF Z IBDFS VO TFHVJNJFOUP DM½OJDP N²T BO²MJTJT QBSB WFS TJ MPT G²SNB DPT IBO DPOUSPMBEP FM DSFDJNJFOUP EFM WJSVT QPSRVF FM 7*) OVODB TF DVSB P TJ IBO BQBSFDJEP SFTJTUFODJBT 1FSP FM QSPCMFNB FT RVF FTPT OJÁPT NVDIBT WFDFT OP TPO OJ TJRVJFSB EJBHOPTUJDBEPT QPSRVF MPT BO²MJTJT USBEJDJPOBMFT EFM 7*) TPO DPNQMFKPT Z EJG½DJMFT EF IBDFS FO QB½TFT TJO SFDVSTPT Z QPSRVF B NFOVEP MPT CFC¹T TPO QSFNBUVSPT P FTU²O UBO EFTOVUSJEPT RVF OP TF MFT QVFEF FYUSBFS TVGJDJFOUF TBOHSF 4JO FNCBSHP IBZ VOBT OVFWBT U¹DOJDBT EF EJBHOÂTUJDP NPMFDVMBS FO MBT RVF TÂMP TF OFDFTJUBO EPT HPUBT EF TBOHSF TFDB SFDPHJEBT TPCSF VO QBQFM FTQFDJBM &T VO N¹UPEP CBSBUP OP FYJHF SFGSJHFSBDJÂO Z QPS MP UBOUP FT QFSGFDUP QBSB QB½TFT EF SFDVSTPT MJNJUBEPT : FT FO FTUP FO MP RVF USBCBKBO )PMHV½O Z MPT TVZPT FO BMHP UBO DPODSFUP DPNP FM

USB EF RVF FT VO DPNQSBEPS JOUFMJHFOUF 5BNCJ¹O TPO DBQBDFT EF QPTQPOFS VOB DPNQSB EF BMHP NVZ OFDFTBSJP IBTUB RVF OP MB FODVFOUSF FO PGFSUB 1BSB MPT GBNJMJBSFT FT WFSEBEFSBNFOUF EFTFTQFSBOUF WJWJS DPO VO DPNQSBPGFSUBT : QFPS BVO DVBOEP FM QBESF EF GBNJMJB FT BT½ Z MF JNQPOF TV N¹UPEP B MPT IJKPT 1BQ² ZB OFDFTJUP VOPT UFOJT OVFWPT QVFT IBTUB RVF OP FTU¹O FO PGFSUB MPT RVF RVJFSFT UF MPT DPNQSP "T½ FT FM ESBNB DPO UPEP MP RVF TF OFDFTJUB DPNQSBS 4F FNPDJPOBO DPNQSBOEP MBT GSVUBT Z WFSEV SBT RVF FTU²O FO EFTDVFOUP Z TÂMP TF GJKBO FO MPT QSPEVDUPT DPO EFTDVFOUP FO MPT BOBRVFMFT 4PO FM PQVFTUP EFM DPNQSBEPS DPNQVMTJWP QVFT FTUF TBMF B WFS RVF DPNQSB Z OP JNQPSUB NV DIBT WFDFT TJ MP OFDFTJUB P MP RVF DVFTUF &O DBN CJP FM PUSP FODVFOUSB TV QMBDFS FO OP TBMJS B HBT UBS IBTUB RVF OP FTUF FO PGFSUB DPNQSB TÂMP MP RVF OFDFTJUB Z FM QSFDJP FT MP N²T JNQPSUBOUF "NCPT IBDFO EFM EJOFSP Z EF MBT DPNQSBT VO QSPCMFNB $BEB VOP B TV NBOFSB

EFTBSSPMMP Z FWBMVBDJÂO EF FTBT U¹DOJDBT EJBHOÂTUJDBT Z FO MB FEVDB DJÂO EF U¹DOJDPT Z N¹EJDPT QBSB RVF QVFEBO BQMJDBSMBT :B IBO DPMB CPSBEP FO (VJOFB )POEVSBT Z &M 4BMWBEPS Z BIPSB QSFQBSBO EPT QSPZFDUPT FO $POHP Z &DVBEPS QBSB MPT RVF OFDFTJUBO GJOBODJBDJÂO : BRV½ FT DVBOEP NF QBSFDF FTDVDIBS FM SF[POHP BMUBOFSP EF FTPT UJ QPT NBYJNBMJTUBT B MPT RVF OBEB QBSFDF TVGJDJFOUF {Z QPS RV¹ EFEJ DBSTF BM $POHP DPO UBOUB OFDFTJEBE DPNP IBZ FO &TQBÁB &T MB GBMB DJB EFM OJSWBOB FTB DPOPDJEB USBNQB MÂHJDB RVF DPOTJTUF FO SFDIB[BS VOB BDDJÂO P VOB JEFB DPO [BGJP SFDVSTP EF DPNQBSBSMBT DPO iMP NF KPSw DPO FTP UBO NFKPS RVF FT JNQPTJCMF EF BMDBO[BS 1PS FKFNQMP IBTUB RVF OP IBZB OJ VO TPMP OJÁP DPO IBNCSF FO OVFTUSP QB½T OP TF EFCF BZVEBS B MPT EF GVFSB 6O UJQP EF SB[POBNJFOUP RVF DPOEVDF B MB JOBDDJÂO Z RVF BEFN²T TVFMFO TPTUFOFS MPT RVF UBNQPDP IBDFO OB EB QPS MPT OJÁPT QSPQJPT 1PS GPSUVOB )PMHV½O Z TV FRVJQP RVF QPS DJFSUP UBNCJ¹O USB CBKBO DPO NFOPSFT DPO 7*) EF MB $PNVOJEBE EF .BESJE UJFOFO PUSB JEFB EF MB SFTQPOTBCJMJEBE TPDJBM : UF OFDFTJUBO OPT OFDFTJUBO QB SB QSPTFHVJS DPO TVT JOWFTUJHBDJPOFT RVF TPO QBUSJNPOJP EF UPEPT "DBCBO EF MBO[BS MB DBNQBÁB 2VF DVNQMBO NVDIPT N²T QBSB SFDBV EBS GPOEPT UBOUP EF FNQSFTBT DPNP EF QBSUJDVMBSFT 1PS FKFNQMP QVFEFT EPOBSMFT VO FVSP BM NFT B USBW¹T EF 5FBNJOH QFSP TJ FOUSBT FO MB Q²HJOB XXX RVFDVNQMBONVDIPTNBT DPN TBCS²T NFKPS DÂNP BZVEBS QBSB RVF EFTEF MPT TÂUBOPT EF VO IPTQJUBM EF .BESJE FTUF QVÁBEP EF MVDIBEPSFT DPOTJHB RVF VOPT DVBOUPT OJÁPT TPCSFWJWBO N²T BMM² EF MPT EPT BÁPT FO OVFTUSP NVOEP HSBOEF Ï 304" .0/5&30 &%*$*0/&4 &- 1"¡4 4- 5PEPT MPT EFSFDIPT SFTFSWBEPT

%PNJOHP EF NBZP EF

&/3*26& 50644"*/5 "/"-*45" 10-¶5*$0

"/«-*4*4

VODB MP FTDPOEJÂ -B GVOEBDJÂO EFM .PWJNJFOUP EF 3FHFOFSBDJÂO /B DJPOBM .PSFOB UFO½B VO QSJNFS PCKFUJWP QPM½UJDP GBHPDJUBSTF BM PUSPSB QPEFSPTP 1BSUJEP EF MB 3F WPMVDJÂO %FNPDS²UJDB 13% "OES¹T .BOVFM -ÂQF[ 0CSBEPS FO TVT EFDMBSBDJPOFT QPTUFSJPSFT B MB PCUFO DJÂO EF SFHJTUSP EF .PSFOB MP DPOGJSNÂ OVFTUSP QSJODJQBM BEWFSTBSJP FO FTUPT NPNFOUPT FT FM 13% EF MPT i$IVDIPTw &M 1BDUP QPS .¹YJDP TJHOJGJDÂ VO EVMDF FOWFOFOBEP QBSB FM 4PM "[UFDB &T DJFSUP VOB QBSUF EF MB BHFOEB EF MPT BNBSJMMPT USBOTJUÂ QPS FM BDVFSEP DPOWPDBEP B JOJDJPT EF TFYFOJP QPS &OSJRVF 1FÁB /JFUP 4JO FNCBSHP TJHOJGJDÂ UBNCJ¹O FM EFTBS NF EF MB PQPTJDJÂO MB SVQUVSB EFM QBSUJEP IFHFNÂOJ DP EF MB J[RVJFSEB Z VOB DPOGVTJÂO JOUFSOB RVF FM 13% TJHVF QBHBOEP -VFHP MMFHÂ "ZPU[JOBQB Z MPT DBTPT EF DPSSVQDJÂO &M USJFOJP SFQSFTFOUÂ MB iUPSNFOUB QFSGFDUBw QBSB FM QFSSFEJTNP RVF OP TÂMP EB TFÁBMFT EF NVFSUF FO FM EFM UFSSJUPSJP OBDJP OBM FO EPOEF OP BMDBO[B OJ MPT EJF[ QVOUPT EF QSF GFSFODJB FMFDUPSBM TJOP RVF UBNCJ¹O DPNJFO[B VO EFDMJWF EF TV QPEFS FO MB DBQJUBM EF MB 3FQÈCMJDB -B FMFDDJÂO JOUFSNFEJB EF UBNCJ¹O TJHOJGJ DÂ FYQM½DJUBNFOUF VO QMFCJTDJUP TPCSF FM GVUVSP EF MB J[RVJFSEB .²T RVF DPNQFUJS DPO FM 13* P DPO FM 1"/ .PSFOB Z FM 13% TF FOGSBTDBSPO FO VOB QVHOB FMFDUPSBM RVF QSPWPDÂ MB GSBHNFOUBDJÂO EFM WPUP EF J[RVJFSEB FO FM QB½T &T DJFSUP .PSFOB OP MPHSÂ FM QV CMJDJUBEP TPSQBTTP FT EFDJS TVQFSBS FO WPUPT BM 13% &M 4PM "[UFDB MF TBDÂ VO NJMMÂO EF WPUPT EF EJGFSFO DJB B .PSFOB B NJMMPOFT 4JO FNCBSHP .P SFOB DPORVJTUÂ MB NBZPS½B EF MBT EFMFHBDJPOFT FO MB $JVEBE EF .¹YJDP Z TF IJ[P DPO MB NBZPS½B QBSMBNFO UBSJB FO MB "TBNCMFB -FHJTMBUJWB -PT WPUPT HMPCBMFT GBWPSFD½BO BM 13% MP RVF DPOUSBTUBCB DPO VOB QFS DFQDJÂO HFOFSBMJ[BEB .PSFOB DPNP VOB NBSDB QP M½UJDB FO BTDFOTP Z BM 13% DPNP FTF JOWJUBEP B MB NF TB EFM USJQBSUJEJTNP FO EFDMJWF -P RVF EFMJOFÂ UPEP QBSFDF JOEJDBS RVF MP IBS² SFBMJEBE -BT FODVFTUBT TFÁBMBO RVF .P SFOB TJO OJOHVOB BMJBO[B QPES² SP[BS MPT QVOUPT QPSDFOUVBMFT JODMVZFOEP MBT HVCFSOBUVSBT FO KVF HP : OP TÂMP FTP IB MPHSBEP RVF TVT DBOEJEBUPT TF BO DPNQFUJUJWPT JODMVTP QBSB HBOBS FO FTUBEPT DPNP 7FSBDSV[ ;BDBUFDBT Z UJFOF VOB BNQMJB WFOUBKB EF BDVFSEP B &M 'JOBODJFSP FO MBT FMFDDJPOFT DPOTUJUV ZFOUFT EF MB $JVEBE EF .¹YJDP 1PS TV QBSUF FM 13% QPS T½ NJTNP TPMBNFOUF FT DPNQFUJUJWP FO 5MBYDBMB BVORVF MBT ÈMUJNBT FODVFTUBT DPMPDBO BM 4PM "[UFDB MFKPT EF IBDFSTF DPO MB TJMMB EF (PCJFSOP 4JO FNCBS HP MBT CVFOBT OPUJDJBT QBSB FM 13% TFS½BO DPORVJTUBS 7FSBDSV[ FO BMJBO[B DPO FM 1"/ Z DPO VO FY QSJJTUB DPNP .JHVFM OHFM :VOFT Z DFSSBS MB DPOUJFOEB FO 0BYBDB Z FO 2VJOUBOB 3PP 4JO FNCBSHP MB NBSDB JO EFQFOEJFOUF EFKBOEP EF MBEP TV DPBMJDJÂO FMFDUPSBM DPO FM 1"/ FTCP[B VOB EFCJMJEBE JOOFHBCMF 5PEP QB SFDF JOEJDBS RVF USBT MPT DPNJDJPT EF .PSFOB QVFEF DPMPDBSTF DPNP MB GVFS[B IFHFNÂOJDB EF MB J[ RVJFSEB B OJWFM OBDJPOBM MB CBTF QBSUJEJTUB QBSB QPT UVMBS B -ÂQF[ 0CSBEPS DPNP TV DBOEJEBUP B 1FSP N²T BMM² EF MB QVHOB FOUSF FM 13% Z .PSF OB QPS FM OJDIP EF WPUBOUFT EF J[RVJFSEB FO FTUF QB ½T {2V¹ TJHOJGJDB QBSB MB EFNPDSBDJB Z FM TJTUFNB QP M½UJDP FO .¹YJDP FTUF TPSQBTTP {%FTQBSFDFS² FM 13% {4F MP DPNFS² FM USFO EF .PSFOB -B IJTUPSJB EF MB J[RVJFSEB NFYJDBOB FT MB DSÂOJ DB EF MB GSBHNFOUBDJÂO "DUVBMNFOUF TJ SFWJTBNPT MPT SFTVMUBEPT EF MB FMFDDJÂO EF QPEFNPT EFEV DJS RVF DPNP OVODB BOUFT FM WPUP EF J[RVJFSEB HP[B EF DBCBM TBMVE 13% .PSFOB .$ 15 &T EFDJS TJ UPEPT TF IVCJFSBO KVOUBEP FO VO NJT NP JOTUJUVUP QPM½UJDP IVCJFSBO FNQBUBEP MB WPUBDJÂO RVF PCUVWP FM 13* 4JO FNCBSHP FM TJTUFNB FMFDUPSBM NFYJDBOP Z MB QSPQJB EJO²NJDB EF MBT J[ RVJFSEBT MP RVF QSFNJB OP FT MB VOJEBE OJ MBT DPBMJ DJPOFT TJOP MB EJTQFSTJÂO Z MB GSBHNFOUBDJÂO EF MBT PQDJPOFT QPM½UJDBT 1PS MP UBOUP BTVNJFOEP RVF MPT QBSUJEPT EF J[RVJFSEB TJFNQSF IBO UFOJEP VO UFDIP

&- 4031"440

OBMJTNP Z VO EJTDVSTP BOUJ ¹MJUFT /P IBZ VOB BQSP YJNBDJÂO B MB TPDJBMEFNPDSBDJB QPS FM DPOUSBSJP FT VOB J[RVJFSEB TVTUFOUBEB FO UFNBT DPNP MB QPTFTJÂO OBDJPOBM EF MPT IJESPDBSCVSPT FM EJTDVSTP NPSBM FO FM DPNCBUF B MB DPSSVQDJÂO Z MB DPOTUSVDDJÂO EF VO iQVFCMPw BT½ MP EJDF -ÂQF[ 0CSBEPS FO TVT TQPUT OP VUJMJ[B MB QBMBCSB DJVEBEBOPT FYQMPUBEP QPS MBT ¹MJUFT FDPOÂNJDBT Z QPM½UJDBT RVF TF VOFO QBSB TJN CPMJ[BS B iMB NBGJB EFM QPEFSw &T N²T VO QSPZFDUP RVF SFUPNB BTQFDUPT QPM½UJDPT EFM QBTBEP NFYJDBOP FO DPOUSBQPTJDJÂO DPO FYQFDUBUJWBT EF GVUVSP P SF QMBOUFBNJFOUP EF MPT BTVOUPT RVF EFCF EFGFOEFS MB J[RVJFSEB &T VO QMBOUFBNJFOUP EF J[RVJFSEB T½ QBS UJDVMBSNFOUF QPS FM QBQFM EFM &TUBEP FO MB FDPOPN½B Z TV TFÁBMBNJFOUP EF MBT ¹MJUFT QFSP FT DPOTFSWBEPS FO FM TFOUJEP N²T DM²TJDP EF MB QBMBCSB OP TF NFUF

DPO OJOHÈO UFNB QPM¹NJDP TFB FM BCPSUP P FM NBUSJ NPOJP FOUSF QFSTPOBT EFM NJTNP TFYP &O TFHVOEP MVHBS FM TPSQBTTP EF .PSFOB JNQMJ DB UBNCJ¹O RVF TPCSF FTUF QBSUJEP HSBWJUBS² VOB GV UVSB DPBMJDJÂO EF J[RVJFSEB "M E½B EF IPZ PCTFSWBO EP BM 15 DPNP VO OVFWP TBU¹MJUF EFM 13* JODMVTP DPBMJHBEP FO $IJIVBIVB B .$ MFKPT EFM QFKJTNP QBSUJDVMBSNFOUF QPSRVF B &OSJRVF "MGBSP OP MF DPO WJFOF BTPDJBDJÂO BMHVOB DPO FM UBCBTRVFÁP Z BM 13% NFUJFOEP EFNBOEBT DPOUSB -ÂQF[ 0CSBEPS VOB DPB MJDJÂO EF J[RVJFSEB QBSFDF VO TVFÁP SFNPUP 4JO FN CBSHP MP RVF NBSDBO MBT FODVFTUBT Z BMHVOPT QSFWJ TJCMFT SFTVMUBEPT EF MPT DPNJDJPT EFM QSÂYJNP EF KVOJP FT RVF FM 13% EFKBS² EF TFS FM QJWPUF EF VOB QP TJCMF BMJBO[B EF J[RVJFSEB Z TFS² TVTUJUVJEP QPS .P SFOB RVF MMFWBS² MB JOJDJBUJWB 4FS² JOUFSFTBOUF WFS MB SFBDDJÂO EF -ÂQF[ 0CSBEPS USBT MPT SFTVMUBEPT EF MB QSÂYJNB TFNBOB QBSUJDVMBSNFOUF TJ NBOUJFOF TV EJTDVSTP EF JODMVJS BM 13% FO MB iNBGJB EFM QPEFSw P TJ QPS FM DPOUSBSJP DPNJFO[B B UFOEFS QVFOUFT TB CJFOEP RVF MB GSBHNFOUBDJÂO MF QVFEF QBTBS GBDUVSB &O UFSDFS MVHBS OPT TJUÈB FO VO FTDFOBSJP EF NB ZPS QPMBSJ[BDJÂO QBSB MPT QSÂYJNPT EPT BÁPT &M 1SF TJEFOUF 1FÁB /JFUP ZB DPNFO[Â B BSSFNFUFS FO FM EJT DVSTP DPOUSB FM i1FKFw /P MP MMBNB QPS TV OPNCSF BM JHVBM RVF FM FY QSFTJEFOUF 'FMJQF $BMEFSÂO QFSP MP BQFMB DBEB RVF IBCMB EF MPT QFMJHSPT EFM QPQVMJTNP -B QPMBSJ[BDJÂO FOUSF FM 13* Z -ÂQF[ 0CSBEPS OPT QP ES½B MMFWBS B UFOFS VO FNCBSSBEP EF MPEP DPO BDVTBDJPOFT B EJFTUSB Z TJOJFTUSB HVFSSB TVDJB QPS EP RVJFS Z VO EFCBUF QPM½UJDP FOSBSFDJEP IBTUB FM UV¹UB OP /P WFSFNPT B .PSFOB QBSUJDJQBS EF OJOHÈO BDVFSEP QPM½UJDP Z EJS½B RVF MB DPMBCPSBDJÂO QPM½UJDB TF FODPOUSBS½B TVTQFOEJEB IBTUB RVF UPRVF WPUBS FO MBT QSFTJEFODJBMFT EF : QPS ÈMUJNP FM 13% UFOES½B RVF SFQMBOUBSTF EF iQJFT B DBCF[Bw &M QBSUJEP EF #BTBWF UJFOF USFT PQDJP OFT BQPTUBS QPS VO DBOEJEBUP QSPQJP QPES½B TFS FM KF GF EF (PCJFSOP .JHVFM OHFM .BODFSB F JS B MBT VSOBT QPS VO EFM FMFDUPSBEP -P RVF TFHVSBNFOUF TJH OJGJDBS½B QFSEFS MB $JVEBE EF .¹YJDP Z SFGVHJBSTF FO MPT IVFTJUPT 1VFEF UBNCJ¹O BQPTUBS QPS VO JOEFQFO EJFOUF Z MMFHBS B BDVFSEPT DPO FM 1"/ QBSB JNQVMTBS MP FO DPOKVOUP DPNP +VBO 3BNÂO EF MB 'VFOUF %JGJ DJMNFOUF .BSHBSJUB ;BWBMB QPES½B FOUSBS FO VOB PQFSBDJÂO EF FTUBT DBSBDUFS½TUJDBT : QPS ÈMUJNP BVO RVF OP QPS FTP NFOPT QSPCBCMF BCSB[BS FM QSPZFDUP EF -ÂQF[ 0CSBEPS TBCJFOEP EF FOUSBEB RVF FM UBCBT RVFÁP MFT PGSFDFS² MP N½OJNP JOEJTQFOTBCMF "TJNJT NP Z BVORVF OP IBO UFOJEP DPOUSPM UPUBM EFM $PNJU¹ &KFDVUJWP /BDJPOBM RVFEB DMBSP RVF FM UJFNQP TF IB BHPUBEP QBSB MPT i$IVDIPTw QPS MP RVF JODMVTP "HVT U½O #BTBWF QPES½B QSFTFOUBS TV SFOVODJB Z DPNFO[BS VOB DVBSUB QSFTJEFODJB USBT MPT DPNJDJPT EF &T SFOPWBSTF P NPSJS &M TJTUFNB EF QBSUJEPT FO .¹YJDP TF SFDPOGJHV SB DBTJ FO UPEBT MBT PDBTJPOFT DPNP VOB DPOTFDVFO DJB EF SVQUVSBT Z FTDJTJPOFT EF MPT QBSUJEPT FYJTUFO UFT 4VDFEJÂ FO DVBOEP MB DPSSJFOUF EFNPDS²UJDB EF $VBVIU¹NPD $²SEFOBT SPNQF DPO FM 13* Z FOHFOESB MP RVF EFTQV¹T TFS½B FM 13% RVF TJN CPMJ[Â FM FKF WFSUFCSBEPS EF MB J[RVJFSEB NFYJDBOB EV SBOUF BÁPT "IPSB MB SVQUVSB EF -ÂQF[ 0CSBEPS DPO FM 13% UBNCJ¹O TJHOJGJDB MB SFDPOGJHVSBDJÂO EFM NBQB QPM½UJDP NFYJDBOP &M TPSQBTTP ZB OP QBSFDF TFS VOB FYQFDUBUJWB MFKBOB TJOP VOB SFBMJEBE QBMQBCMF RVF IBCS² EF DPOGJSNBS FM EF KVOJP MP RVF ZB EJDFO MBT FODVFTUBT &M 13% OP EFTBQBSFDFS² QFSP MPT FSSP SFT EF MPT ÈMUJNPT BÁPT MP DPOEFOBS²O B TFS VO BDUPS EF SFQBSUP FO FTB QVFTUB FO FTDFOB MMBNBEB FMFDDJÂO QSFTJEFODJBM EF

&TU² GFDIBEB BMSFEFEPS EF &M #VDJOUPSP FSB MB TVOUVPTBHBMFSB PGJDJBM EFM FTUBEP EFM %PHP FO MB DVBM TF FNCBSDBCB VOB WF[ BM BÁP FM E½B EF MB "T DFOTJÂO QBSB DFMFCSBS MB GJFTUB EF VOJÂO EF 7FOF DJB DPO FM NBS &M %PHP BSSPKBCB TV BOJMMP BM "ESJ² UJDP DPNP QSVFCB EF TVT FTQPOTBMFT DPO ¹M &O MB PCSB FM QJOUPS PSHBOJ[B VOB DPNQPTJDJÂO RVF SF DVFSEB MB NBOFSB GMBNFODB %FTUBDB BM GPOEP VOB QSPEJHJPTB BSRVJUFDUVSB FU¹SFB Z FYUSBWBHBOUF RVF QSPDFEF EF MB JOGMVFODJB EF VO QSFEJMFDUP EF -VJT #BSSBH²O +BO 7SFEFNBO EF 7SJFT &O QSJNFS QMBOP VOB NVMUJUVE PSEFOBEB FO GJMBT DBNJOB BMFS UB DPNQBSTB EF MB WBTUB SFQSFTFOUBDJÂO RVF TF EF TBSSPMMB &M #VDJOUPSP TVSDB MBT BHVBT Z QSFTJEF MB WJTUB UPEP SFNPT BDPNQBTBEPT Z HSBO CBOEFSB BM WJFOUP DVTUPEJBEP QPS OBW½PT NFOPSFT "US²T FM UFMÂO EF MB 1JB[[FUB DPO TV MFÂO EF 4BO .BSDPT FM QBMBDJP EF MPT %PHPT MB CBT½MJDB MBT HBMFS½BT Z FM DBNQBOJM JODSF½CMF BM RVF VOB TPNCSB JOTÂMJUB PT DVSFDF FO TV SFNBUF &T RVJ[² FTUF BDFOUP PNJOP TP Z TVSSFBM FM RVF WVFMWF JOPMWJEBCMF B MB DPOUFN QMBDJÂO $PNP TJ FTF BOVODJP RVF JOWJFSUF QPS T½ TPMP MB TJHOJGJDBDJÂO EF FTUB QJOUVSB BMUFSBSB MB DPODJFODJB Z QSFTBHJBSB MB GBUBM EFDBEFODJB EF MB 4FSFO½TJNB EF UPEB UFSSFOB HMPSJB 7FS FTUB BSRVJ UFDUVSB GBOUBTNBM Z QPSUFOUPTB FTUB QSPDFTJÂO QMF OB EF NBKFTUBE WJFOF B TFS NBM RVF MF QFTF B MB QSP HSFT½B UBO BGFDUB B EFOPTUBS MB DPMFDDJÂO Z FM HFTUP EF FWJEFOUF MBSHVF[B EFM NBHOBUF N²YJNP VO NVZ BHSBEFDJCMF QSJWJMFHJP DBQB[ EF BOJNBS BM WJTJUBO UF B JS B CVTDBSMP FOUSF MB WBSJPQJOUB Z NVZ EJWFSUJ EB BMFDDJPOBEPSB SFVOJÂO EF QSFGFSFODJBT Z B[B SFT RVF FT FTUF NVTFP &M FODBSHP EFM TFÁPS RVF ZB OP FTU² &T EF FO USBEB VO PSP TÂMJEP VO CSJMMP FOUSBÁBCMF Z QPEFSP TP FO TV EJTDSFDJÂO -VFHP FT VO E¹DJNP KVTUP VOB M²NJOB DPO TV EFDFOB EF DBUBEVSBT Z HFTUPT 6OB JOTDSJQDJÂO JOWJTJCMF HPCJFSOB FM DPSUF USBOTWFSTBM EF BRVFM JOTUBOUF DPO TVT QBTBKFSPT USB[BEB DPO NBOP S²QJEB DFSUFSB BM SFWFSTP EF MB JNBHFO EF MB DBTB EF MPT Q²KBSPT iyEF MPT DJNJFOUPT B MB DSV[ w -PT Q²KBSPT WPMBSPO CBOEBEB QFSFHSJOB P USBTIV NBOUF QPS MPT MVHBSFT Z QPS MPT ²OJNPT $BEB VOP EJTUJOUP UPEPT QBSFKPT FO VO DJFSUP BJSF EFTQBSQB KBEP NFEJP EJTUSB½EP FO VOB EFTFOWPMUVSB B WFDFT EFTEFÁPTB PUSBT BUFOUB 1BSWBEB RVF GVF BDPHJEB BM BMFSP EFM SFDJP DBSJÁP EFM IVNPS EF MPT JOGJOJUPT DVJEBEPT EF MB BQSFIFOTJÂO Z FM BOTJB EF MB IJTUP SJB MBSHB EF CBUBMMBT HBOBEBT Z QFSEJEBT EFM CSB W½P DFMP EF MB OBOB EF MPT NVSPT EF MJCSPT Z UJMJDIFT

EF MB QFOVNCSB JOEFMFCMF EPOEF HPCFSOBCB FM DBS QJOUFSP EF MPT QSPEJHJPT Z MPT 'BSPT GBSP ¹M FOUSF MPT DJNJFOUPT $BEB RVJFO B TV BJSF CBOEBEB BIP SB MJCSBEB B MB JOFMVDUBCMF Z EFTQJBEBEB NFSDFE EF MB 1SPWJEFODJB EF MB WJEB RVF TF WB : VOBT QBMB CSBT ÈMUJNBT RVF SFTPOBS²O JOWBSJBCMFT BJ UF FO DBSHP WJFKPy3PEBSPO MPT BÁPT OVCFT JOOVNFSB CMFT QBTBO QBJTBKFT Z BGBOFT TF TVDFEFO FYUSBW½PT TJOHMBEVSBT Z EFSSPUBT Q²KBSPT OVFWPT WBO MMFHBO EP USJOPT EJTUJOUPT DJFMPT WBSJBEPT Z WFOUVSPTPT %F UPEP FTUP EFM FODBSHP MB M²NJOB EPSBEB EB BM HVOB DVFOUB &YUSBÁBNFOUF VO SFGMFKP BQFOBT FO USFWJTUP TJ TF QPOF DVJEBEP EPNJOB TV WJTJÂO MB IBDF JOPMWJEBCMF FM EFM TPM Z FM EF MB NJSBEB RVF BRVFM E½B EF MMFOP CFOEFD½BO MB DSV[ $VMJBD²O MB DBO½DVMB SFDPSSF FM S½P #BKBOEP EFM BWJÂO MB CSBW½B MBUJUVE SFDJCF BM RVF QBTB DPO VO FGVTJWP BCSB[P EF TVEPS Z TPGPDP -B BNBCJMJEBE EF MB HFOUF TF FODBSHB EF BUFNQFSBS FM FYDFTP &M +BS E½O #PU²OJDP EFTQV¹T IBDF VOB WF[ N²T QPS T½ TP MP WBMFS FM WJBKF " VO DPTUBEP MBT QBMNBT WJDUPSJP TBT MFWBOUBO ZB MB JO¹EJUB QSPDFTJÂO RVF WFOES² MBT RVJFUBT BHVBT NFDFO EFTEF BIPSB MPT NBOTPT PDJPT EF RVJFO BMM½ MMFHVF WFSFEBT TPNCSBT RVF TF CF CFO DPNP VO BHVB EFM NJMBHSP QVFOUFT JTMBT EF MB TFSFOJEBE &M KBSE½O TF BUJFOF BM QPEFS½P EF TV TBM W½GJDB NJTJÂO BDFSDBS B MBT HFOUFT B T½ NJTNBT BM FTQMFOEPS EFM NVOEP &M S½P QBSFDF IBCFSTF EFUF OJEP QPS DPNQMFUP &M QVFOUF OFHSP B[PSBEP NJ SB DPNP FM USBOTDVSTP GMVWJBM TF WVFMWF VOB QVSB JO NJOFODJB -VFHP FM TPM EFDMJOB IBDF BJSF FM S½P SFDVQFSB TV DVSTP FT IPSB EF WPMWFS 5JQPOUBUF MMBNBOEP B MBT BHVBT -BT DJHBSSBT BM[BO TV DMBNPS VO²OJNF Z VSHFOUF &M DJFMP QFS NBOFDF JOUFSQFSSJUP &M SFGVHJP QBSB MPT OBW½PT QSPHSFTB MB DFJCB TF BHVBSEB FM NVSNVMMP EF MBT QJMBT MMFWB MB OPDIF BEFMBOUF FM UFOTP KFSPHM½GJDP EFM BMBDS²O EJCVKB TV USB[P UFSSJCMF TPCSF FM NVSP MB DBQJMMB EFM QVFCMP SFTJTUF MPT BUBRVFT EF MB DIB CBDBOFS½B Z MB QSFUFOTJÂO FM CBNCÈ UBNCJ¹O SF TJTUF Z FTQFSB 1FSP B MB PSJMMB EF MB MBHVOB MB EBO [B EF MPT UVMFT FM DFSSP RVF MFWJUB MPT Q²KBSPT RVF MMFHBO EFTEF PUSPT DJFMPT MB TJMVFUB EF MB CPNCB EFM )VBTPZP MPT WJFKPT NVSPT IFDIPT QBSB FOGSFOUBS FM BSUFSP BUBRVF EF MBT NBSFBT MB HSBDJB FM HP[P EF FTUBS TPCSF MB UJFSSB KQBMPNBS!JOGPSNBEPS DPN NY

%FTEF TV GVOEBDJªO .PSFOB UVWP DPNP PCKFUJWP EFWPSBSTF BM 13% DPNP QSJODJQBM QBSUJEP EF MB J[RVJFSEB NFYJDBOB MB FMFDDJªO EF QPES¤B EFKBS FTF SFTVMUBEP

EF WPUP N²T SFEVDJEP RVF FM 13* Z FM 1"/ QBSFDF NVZ DPNQMJDBEP RVF VO DBOEJEBUP RVF QSPWFOHB EF FTUPT QBSUJEPT QPM½UJDPT MPHSF VOB NBZPS½B TVGJDJFO UF QBSB HPCFSOBS FM QB½T FO /P FT JNQPTJCMF QFSP OJ MB VOJEBE NBUFSJBMJ[BEB FO UPSOP B -ÂQF[ 0CSBEPS FO Z MFT QFSNJUJÂ B MB J[RVJFSEB IBDFSTF DPO -PT 1JOPT RV¹ QPES½BNPT FTQFSBS EF VO FOUPSOP UBO GSBHNFOUBEP &M TPSQBTTP EF .PSFOB TJHOJGJDBS½B BM NFOPT DVBUSP EJO²NJDBT RVF TPO EJHOBT EF BOBMJ[BS MB QSJ NFSB MB JNQPTJCJMJEBE IJTUÂSJDB EF CVFOB QBSUF EF MB J[RVJFSEB NFYJDBOB EF TFQBSBSTF EFM DSFEP OBDJP OBM SFWPMVDJPOBSJP -B J[RVJFSEB EF .PSFOB RVF OP TF BTVNF DPNP UBM FO OJOHVOP EF MPT BSU½DVMPT EF TVT FTUBUVUPT JNQMJDB MB DPOUJOVBDJÂO EF VOB JEFPMPH½B QPM½UJDB OP MJCFSBM RVF DPOKVHB FTUBUJTNP DPO OBDJP

Õ> Ê*> >À

, "Ê Ê1 Ê -* / ", "UNPTG¹SJDBT "NBOFDFSFT Q²KBSPT Z CBKPT 6O JO GJOJUBNFOUF TVUJM KVFHP EF HSJTFT Z QMBUFBEPT WB BOVODJBOEP BM E½B RVF BQVOUB $VSJPTP DÂNP QPDB HFOUF QBSFDF SFQBSBS FO FTUF EJBSJP NJMBHSP DBQB[ EF FODFOEFS MB MMBNB RVF HVJBS² MPT QBTPT EF MB KPS OBEB " MPT Q²KBSPT OP MFT JNQPSUB F JHVBM MFWBO UBO TVT DBOUPT EF QSPEJHJP Z HP[P QBSB TBMVEBS B MB NBÁBOB RVF FOUSB B MB FTQBÁPMB QJTBOEP GVFSUF )PSBT TJO DVFOUP RVFSJFOEP JEFOUJGJDBS DBEB USJOP NJSBOEP IBDJB FM PSJFOUF QPS TJ BMHVOP EF MPT DBO UPSFT BQBSFDF /BEB OPN²T TV UPOBEB KVHVFUPOB JSÂOJDB Q²KBSPT JOWJTJCMFT Z DMFNFOUFT $POUSB TVT BSNPO½BT FOUSFMB[BEBT Z BHVEBT FM TPOJEP EFM US² GJDP FO MB DBMMF DFSDBOB EFTQMJFHB VO B[BSPTP Z QSF DJTP DPOUSBQVOUP EF CBKPT Z PTUJOBUPT &T MB ½OUJNB Z DMBNPSPTB NÈTJDB EF MP RVF QBTB GVHB[ JSSFQF UJCMF FTFODJBM QBSB MB DPUJEJBOB DPOTUSVDDJÂO EFM NVOEP "OEBNJPT RVF QSFQBSBO QBSB MB CBUBMMB RVF TF BDFSDBy : MVFHP ZB UBSEF FO MB OPDIF FM CBMDÂO EFM KBSE½O DVFOUB MPT QBTPT SFDVQFSBEPT *S Z WFOJS UPEP B MP MBSHP EFM QVFTUP EFM WJH½B &M O½T QFSP BM RVF MPT DBMPSFT TJFOUBO UBO CJFO BDPNQB ÁB MB WFMBEB DPO JOGJOJUB TVBWJEBE : VOB DPOTPMB EPSB DPNQSPCBDJÂO FM HSBO NPOVNFOUBM ²SCPM EFM IVMF EF MB PUSB DVBESB MPHSÂ ZB DPO TV QSPEJHJP TB FTUBUVSB FO QBDJFOUF FYQBOTJÂO UBQBS MB IPSSFO EB UPSSF RVF IBDF BÁPT MB DPNQBÁ½B EF UFM¹GPOPT QVTP DPNP VOB USJTUF WFSSVHB FO MB DBSB EF MB DJV EBE FO MB DBSB EF VOB BNJHB RVFSJEB *OTUBOU²OFBT OPUJDJBT GBWPSBCMFT TF MJNQJB BT½ FM DJFMP Z 0SJÂO TBMVEB DPO MBT MVDFT RVF NBOEÂ B FTUF QSFDJTP CBM DÂO EFTEF FM GPOEP EF NJMMPOFT EF BÁPT 4BO +VBO EF %JPT 1BOUPSSJMMB NPSB EF MB DJV EBE ²SBCF MF EJKP :²ÁF[ 4JFNQSF BMM½ MB EFDBOUB DJÂO FM NFSP SFHVTUP GJOBM EF UPEP MP RVF UBQBU½P IB TJEP " USBW¹T EF MPT TJHMPT FM S½P QFSEJEP TJHVF GMVZFOEP Z NBSDB DPO QSFDJTJÂO FM DFOUSP NBHO¹ UJDP EF MBT HFOFSBDJPOFT FO US²OTJUP &T FM BTJFOUP EF UBIÈSFT Z CVTDPOBT TJUJP EF USVIBOFT Z BWFOUV SFSPT MVHBS EF MB BVHVTUB DPSUF EF MPT NJMBHSPT RVF B MB DJVEBE FOOPCMFDF 5JQPT IVNBOPT EJSFDUB NFOUF TBMJEPT EF MBT Q²HJOBT EF 7BMMF *ODM²O FT

1~(*/" #

&- */'03."%03

QFSQFOUPT JOTÂMJUBT JN²HFOFT EFM DSFQÈTDVMP Z MB QFTBEJMMB -B TFE EFM E½B QVFEF TFS DPNQSBEB B VOB CSBW½B NVKFS EF FEBE JOEFGJOJEB Z FRVJMJCSJP QSF DBSJP iQPS EJF[ WBSPT QBSB VO BMDPIPMJUPw 0USP TF SFOP QPTFTP EFM QPUSP EFM BMDPIPM QJEF DPO MPT NP EPT EF VO TFÁPS iVOB MBOBw QBSB TJNQMFNFOUF iJSMB QBTBOEPw 1PDP TBCFO MPT BUVSVMMBEPT USBOTFÈOUFT RVF FTUPT QFSTPOBKFT BCPSEBO EFM QSJWJMFHJP RVF BT½ TF MFT FYUJFOEF TFS BVORVF TFB VOB N½OJNB QBSUF EF FTB WJEB DFOUFOBSJB EF FTB IPOEB SB½[ RVF QFSNJUF B (VBEBMBKBSB TV BMJFOUP )FMQ UIF QPPS EJ DF FM CMVFT RVF BIPSB DBOUBO &SJD $MBQUPO Z # # ,JOHyFT DVFTUJÂO EF TBCFS RVJ¹O FT FM QPCSF &M ÂSHBOP EF MB WFOFSBCMF JHMFTJB EF 4BO +VBO EF %JPT UJFOF VOB QBTNPTB QPUFODJB /PN²T FM EF $BUFESBM QBSFDF TPCSFQBTBSMP &M NBFTUSP )FSO²O EF[ USJQVMB FM IVSBD²O EF TVT OPUBT MB TVUJMF[B EF TVT NBUJDFT TÂOJDPT &M EFMJDBEP TPOJEP EFM USVFOP EJDF 1JOL 'MPZE #BDI QPS TVQVFTUP JOJDJB MB TF TJÂO &M SFNBUF QJSBNJEBM EF MB UPSSF UPEBW½B FNJ UF TVT EFTUFMMPT EF QSPEJHJP DVBOEP MB DPODVSSFO DJB EFTFNCBSDB EF MB USBWFT½B "MM½ EPOEF DPNP DPO MPT CFEVJOPT RVF TJHVFO MMFHBOEP FO TVT DBSB WBOBT TF UJFOF MB NFSDFE EF DPNQSBS MB TFE QPS VOBT NPOFEBT &TB QSFDJPTB TFE RVF OPT IBDF TFS .POTÈ %FTJEFSJP FO MB DPMFDDJÂO 4PVNBZB 4F FOUFSB FTUF FTQFDUBEPS EF PUSB HSBDJB RVF FM QÈCMJ DP FO HFOFSBM PCUJFOF DPOTJEFSBS EF CVMUP Z B TVT BODIBT VOB SBS½TJNB PCSB EF FTUF FOJHN²UJDP QJO UPS RVJFO FSB FO SFBMJEBE EPT 'SBO¸PJT EF /PN¹ Z %JEJFS #BSSB 1BTB RVF DPNP FSBO NVZ BNJHPT Z TFHVJEP QJOUBCBO KVOUPT MPT BDBE¹NJDPT QFOTBSPO QPS NVDIP UJFNQP RVF FSBO FM NJTNP BSUJTUB -PT EPT OBDJFSPO FO .FU[ 'SBODJB IBDJB FM GJO EFM TJ HMP 97* -VFHP QBTBS½BO B *UBMJB &M DBTP FT RVF BMM½ QSPEVKFSPO VOB PCSB JOUSJODBEB FO TVT NJTUFSJPT NBSBWJMMPTB QPS TV PGJDJP FODBOUBEPSB QPS BMHVOPT UPRVFT EF TBCJB OB¿WFU¹ -B RVF BIPSB TF QVFEF WFS FO .¹YJDP TF MMBNB &M E½B EF MB "TDFOTJÂO FO FM NVFMMF WFOFDJBOP EFTEF MB DVFODB EF 4BO .BSDPT DPO MB TBMJEB EFM #VDJOUPSP IBDJB MB JTMB EFM -JEP

1~(*/" #

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

%PNJOHP EF NBZP EF

O=HQ@

Cq ] `a o]hq` t _]he`]` `a Ǘe`] -Õ«iÀÛ Ã À\Ê iÀ>À` Ê Ã«>Àâ>Ê}iÀ>À` °iÃ«>Àâ>J v À >` À°V ° Ý

"MJNFOUBDJØO

JOUFMJHFOUF UFOEFODJB TBMVEBCMF -P JNQPSUBOUF OP FT MP RVF DPNFNPT TJOP MBT QPSDJPOFT RVF JOHFSJNPT Z MB NBOFSB FO RVF MP IBDFNPT

V²MFT BMJNFOUPT TPO CVFOPT Z DV²MFT NBMPT 1BSB MB OV USJÂMPHB .BSZCFM :BÁF[ FTUB JEFB FT FSSÂOFB QVFT UPEPT MPT BMJNFOUPT CSJOEBO BMHÈO CFOFGJDJP QBSB QBSB TBMVE Z FM DPSSFDUP GVODJPOBNJFOUP EFM PSHBOJTNP MB DVFTUJÂO FT TBCFS EF RV¹ NBOFSB Z QSPQPS DJÂO DPOTVNJSMPT DBEB E½B i&O .¹YJDP DSFFNPT RVF CBMBODFBS VOB DPNJEB FT BÁBEJSMF FOTBMBEBT P WFSEVSBT B MB DPNJEB DSFFS RVF QPS FTP MB HSBTB EF VO BMJNFOUP WB EJTNJOVJS P ZB OP TF TVCJ S² EF QFTP FT VO FSSPS -PT OVUSJÂMPHPT SFDPNFO EBNPT USFT NBDSPOVUSJNFOUPT DBSCPIJESBUPT QSPUF½ OBT WJUBNJOBT Z

NJOFSBMFT 4J UPEB DPNJEB QSJODJQBM UJFOF FTUPT USFT FMF NFOUPT FO VOB NJTNB DBOUJEBE FTP FT CBMBODFBS QFSP TJ NF QBTP EF DBSCPIJESBUPT P QSPUF½OBT FTP TF DPOWFSUJS² FO HSBTBw 6OP EF MPT QSJODJQBMFT PCTU²DVMPT QBSB MPHSBS VOB BMJNFOUBDJÂO TBOB Z CBMBODFBEB FT RVF OP TF UJFOF FM UJFNQP OFDFTBSJP P MB PSHBOJ[BDJÂO QBSB QSFQBSBS BMJ NFOUPT EFTEF DBTB RVF OPT BMFKFO EF MBT DPNJEBT DBMMF KFSBT QPS MP RVF MB FYQFSUB SFDPNJFOEB BMHVOPT UJQT QB SB RVF FTUF UJQP EF EJFUB OP QFSKVEJRVF i)BZ RVF CVTDBS VO MVHBS EPOEF QVFEBT FMFHJS MBT DPNCJOBDJPOFT CBMBODFBEBT OP RVF UF FTUBCMF[DBO VO QMBUJMMP Z RVF OP UFOHBT GPSNB EF RVJUBSMF P QPOFSMF 5BN CJ¹O EFCFT WFS MB QPSDJÂO RVF UF FTU²O QPOJFOEP Z TPCSF UPEP DIFDBS RVF OP UFOHB HSBTB BVORVF TFB VO GBTU GPPE RVF FT DPNJEB S²QJEB QFSP RVF UF PGSF[DB QPSDJPOFT Z BMJ NFOUPT TBOPTw #BKP FTUF DPODFQUP FT DÂNP .BSZCFM :BÁF[ USBCBKB EF MB NBOP EF SFTUBVSBOUFT DPNP 4VCXBZ FO MB RVF FM DP NFOTBM QVFEF FMFHJS MPT BMJNFOUPT Z QPSDJPOFT RVF N²T TF BEBQUBO B TVT OFDFTJEBE QBSB RVF EF FTUB GPSNB UFOHB VOB BMJNFOUBDJÂO DPSSFDUB VO FTUBOEP MFKPT EF DBTB -B OVUSJÂMPHB BÁBEF RVF TBMUBSTF FM EFTBZVOP FT PUSP EF MPT QSJODJQBMFT FSSPSFT RVF TF DPNFOUFO BOUF MB DSFFO DJB RVF EFKBS EF DPNFS BDFMFSB MB Q¹SEJEB EF QFTP QFSP BEWJFSUF RVF PNJUJFOEP MB DPNJEB N²T JNQPSUBOUF EFM E½B FM DFSFCSP OP GVODJPOB DPSSFDUBNFOUF BM JHVBM RVF FM NF UBCPMJTNP i5PEP FM E½B FTUBS²T BDVNVMBOEP MB DPNJEB FO GPS NB EF HSBTB -B PSHBOJ[BDJÂO FT JNQPSUBOUF EFTEF MB OP DIF BOUFSJPS QBSB QPEFS JOJDJBS FM TJHVJFOUF E½B DPNJFO EP DPSSFDUBNFOUF QPEFNPT EFKBS UPEP MJTUP FO MB MJDVBEPSB IBDFS DPTBT QS²DUJDBT DPNP MBT NBMUFBEBT QSFQBSBS MB MPODIFSB DPO FM EFTBZVOPw -B FYQFSUB UBNCJ¹O TVCSBZB RVF PUSP QVOUP B

DPOTJEFSBS QBSB NFKPSBS BMJ NFOUBDJÂO FT MB DBOUJEBE EF RV½NJDPT RVF TF FODVFO USBO FO MPT QSPEVDUPT RVF TF DPNQSBO QSJODJQBM NFOUF FO TÈQFS "RVF MMPT RVF SFRVJFSFO EF NBZPS UJFNQP QBSB DB EVDBS TPO MPT RVF HF OFSBMNFOUF DVFOUBO DPO BEJUBNFOUPT RVF EBÁBO P QFSKVEJDBO BM PSHBOJTNP Z TV NFUBCP MJTNP DPNP UBNCJ¹O MP TPO MPT DPMPSBOUFT P TVTUJUV UPT EF B[ÈDBS i&M FYDFTP EF UPEP FTUP FT MP RVF OPT FTU² MMFWBOEP B RVF MB HSBTB OP TBMHB EF OVFTUSP DVFSQP B NBOFKBS BOTJFEBE Z FTUFNPT DBZFOEP N²T FO FOGFSNFEBEFT DPNP D²ODFS P EJBCFUFT FOGFSNFEBEFT DSÂOJDP EFHF OFSBUJWBTw .BSZCFM :BÁF[ FYQSFTB RVF UBNQPDP IBZ RVF EFKBSTF MMFWBS QPS MB QVCMJDJEBE FOHB ÁPTB EF BMHVOPT BMJNFOUPT RVF TF PGFSUBO MJCSFT EF HMVUFO B[ÈDBS P HSBTB QPS FKFNQMP QPSRVF MFKPT EF SFBMNFOUF PUPSHBS FTUPT CFOFGJDJPT TÂMP WFOEFO GBMTBT FYQFDUBUJWBT i&OUSF N²T MJHIU TFB N²T RV½NJDPT UJFOF QPS FTP RVF DPO FTUB UFOEFODJB EF DPNFS N²T OBUVSBM FOUSF DP NJMMBT MB HFOUF TF FTU² DPOGVOEJFOEP FOUSF MP PSH²OJDP WFHFUBSJBOP WFHBOP DVBOEP FO SFBMJEBE MP ÈOJDP RVF MPT OVUSJÂMPHPT RVFSFNPT FT RVF SFHSFTFO B MP OBUVSBM DPTBT RVF FTU¹O CBMBODFBEBT Z DVJEBEBT FO MBT QPSDJPOFTw

* > v V>V ]Ê >ÊL>Ãi *>À>Ê LÌi iÀÊÀiÃÕ Ì>` ÊÞÊ>«À Ûi V >ÀÊ> Ê ?Ý Êi Ê«À V « ÊìÊ >Ê > i Ì>V Ê Ìi }i Ìi]ÊiÃÊ iVi Ã>À Ê« > v V>À°Ê Ã ÊµÕiÊÃ }ÕiÊiÃ Ì ÃÊ«>Ã Ã\Ê Ê YYYZÊ ÊÌiÊV « µÕiÃ]Ê i ÀÊÃ « v V>°Ê Ê Õ}>ÀÊìÊiÃÌ>ÀÊì >Ã >` Ê «Ài VÕ«>` Ê« ÀÊV Ì>ÀÊV> À >ÃÊ Ê i` ÀÊÌ> > ÊìÊ >ÃÊ« ÀV iÃ]Ê « i Ã>Êi ÊÌÕÊ` iÌ>Êi ÊÌjÀ ÃÊìÊ V À]Ê Û>À i`>`Ê ÞÊ vÀiÃVÕÀ>°Ê Vj ÌÀ>ÌiÊ i Ê i V ÌÀ>ÀÊ > i Ì ÃÊ µÕiÊÌiÊ}ÕÃÌ> ÊÞÊÀiViÌ>ÃÊÃi V >ÃÊ µÕiÊ V À« À> Ê > }Õ ÃÊ }Ài ` i ÌiÃÊvÀiÃV Ã°ÊÊ Ê YYYZÊ > â>ÊÞÊVj ÌÀ>ÌiÊi ÊV ÊÌiÊ Ã i ÌiÃÊ ìÃ«ÕjÃÊ ìÊ V iÀ°Ê ÃÌ Ê >ÞÕ`>À?Ê>Êv i Ì>ÀÊ ÕiÛ ÃÊ ?L

Ì ÃÊÞÊ}ÕÃÌ ÃÊÃ> Ã°Ê Ê YYYZÊ *ÀiÃÌ>Ê >Ìi V Ê >Ê >Ê ìÀ> V °Ê >Ê}i ÌiÊÃÕi iÊ«i Ã>ÀÊìÊÕ >Ê > i Ì>V ÊÃ> Õ`>L iÊV ÊÕ >Ê «À « Ã V ÊìÊÌ ` Ê Ê >`>]ÊÃ Ê Õ ÊvÕ `> i Ì ÊV >ÛiÊ«>À>ÊVÕ> µÕ iÀÊ` iÌ>ÊÃ> Õ`>L iÊiÃÊ >Ê ì À>V °Ê*iÀ ]Ê·µÕjÊiÃÊ >Ê ìÀ> V ¶Ê Ê iÃi V >]Ê iÃÌ Ê Ã } v V>Ê V iÀÊÃ Ê >ÊV> Ì `>`ÊìÊV `>Ê µÕiÊ ÌÕÊ VÕiÀ« Ê iViÃ Ì>°Ê iLiÃÊ Ãi Ì ÀÌiÊÃ>Ì ÃviV Ê> Êv > ÊìÊÕ >Ê V `>°Ê >Ê ìÀ>V ÊiÃÊÌ> L j ÊVÕiÃÌ ÊìÊiµÕ LÀ °Ê Ê«i Ã>ÀÊìÊ ÊµÕiÊ> }Õ >ÃÊ` iÌ>ÃÊìÊ `>Ê Ê >Vi ÊVÀiiÀ°Ê/ ` ÃÊ iVi Ã Ì> ÃÊÕ ÊiµÕ LÀ ÊìÊV>ÀL `À>Ì Ã]Ê«À Ìi >Ã]Ê}À>Ã>Ã]Êv LÀ>]ÊÛ Ì> >ÃÊ ÞÊ iÀ> iÃÊ «>À>Ê

> Ìi iÀÊÕ ÊVÕiÀ« ÊÃ> °Ê Ê YYZÊ / >ÌiÊ i Ê Ì i « Ê «>À>Ê >ÃÌ V>ÀÊ >Ê V `>°Ê Ã vÀÕÌ>Ê ìÊ >ÃÊ V `>Ã°Ê >ÃÌ V>Ê ÃÊ > i Ì ÃÊ i Ì> i Ìi]ÊÃ>L Ài> ` Ê V>`>Ê L V>` °Ê /i i ÃÊ >ÊÌi ì V >Ê >Ê «ÀiV « Ì>À ÃÊ > Ê V iÀÊÞÊ Û `> ÃÊ ` ÃvÀÕÌ>ÀÊìÊ ÃÊÃ> L ÀiÃÊ ÞÊ Ãi Ì ÀÊ >ÃÊ ÌiÝÌÕÀ>ÃÊìÊ ÃÊ> i Ì Ã°Ê6Õi ÛiÊ>Ê V iVÌ>ÀÌiÊV Ê >Ê > i}À >Ê ìÊ V iÀ]Ê ÌiÊ Ãi Ì À?ÃÊ ?ÃÊvi â°

'0504 &41&$*"-

%PNJOHP EF NBZP EF

&- */'03."%03

1~(*/" #

053" "-5&3/"5*7" 01$*»/ 1"3" &/'&3.04 3&/"-&4

-PT USBTQMBOUFT CVTDBO PUPSHBS NBZPS DBMJEBE EF WJEB B FOGFSNPT SFOBMFT Z TFHÞO FTUVEJPT PUPSHB IBTUB EF TPCSFWJWFODJB

-*()5$)"4&3 1)050(3"1):

$6*%"%04 .²%*$04 &TUB BMUFSOBUJWB BQSPWF DIB MPT ØSHBOPT EF EPOB EPSFT WJWPT

5SBTQMBOUF TFDVFODJBM

DPNP BMUFSOBUJWB &

M USBTQMBOUF TFDVFODJBM P EF DBEF OB EF SJÁÂO FT VOB BMUFSOBUJWB EF WJEB QBSB MPT QBDJFOUFT DPO FOGFS NFEBEFT SFOBMFT RVF SFRVJFSFO VO ÂSHBOP EF VO EPOBEPS GBMMFDJEP Z TF FODVFOUSBO FO MB MJTUB EF FTQFSB QBSB SFDJCJS VOP &M KFGF EFM %FQBSUBNFOUP EF 5SBTQMBOUFT EFM *OTUJUVUP /BDJPOBM EF $JFODJBT .¹EJDBT Z /VUSJ DJÂO 4BMWBEPS ;VCJS²O .BSJP 7JMBUPC² $IBQB JOGPSNÂ RVF FO FTF MVHBS TF MMFWBSPO B DBCP DPO ¹YJUP MPT QSJNFSPT DVBUSP USBTQMBOUFT EF SJÁÂO IBDF VOPT NFTFT &YQMJDÂ RVF MP JNQPSUBOUF EF FTUF GPSNB EF USBTQMBOUF FT RVF iTF BQSPWFDIBO MPT EPOBEPSFT WJ WPT QVFT TF USBUB EF RVF VO EPOBEPS RVF OP GVF DPNQBUJCMF DPO RVJFO JCB B TFS USBTQMBOUBEP TF CVT RVF B PUSP QBDJFOUF SFDFQUPS RVF T½ MP TFB Z BT½ TV DFTJWBNFOUF IBTUB DSFBS MB DBEFOB TFDVFODJBMw %F FTUB GPSNB TF MPHSB BVNFOUBS FM QPUFODJBM EF EPOBDJÂO IBTUB FO QVFT FO .¹YJDP FM OÈ NFSP EF USBTQMBOUF SFOBM EF EPOBEPS GBMMFDJEP QPS NJMMÂO EF IBCJUBOUFT FT EF USFT USBTQMBOUFT RVF SF QSFTFOUB MB SFMBDJÂO N²T CBKB EF "N¹SJDB -BUJOB &M FTUVEJP QBSB BOBMJ[BS MB DPNQBUJCJMJEBE FO USF MPT EPOBOUFT Z MPT SFDFQUPSFT TF SFBMJ[Â HSBDJBT B RVF TF QVEP SFVOJS B DVBUSP QBSFKBT QBSB QPEFS IBDFS FM USBTQMBOUF TFDVFODJBM i%PT USBTQMBOUFT TF SFBMJ[BSPO FO VO E½B Z PUSPT EPT BM TJHVJFOUF E½B Z QBSB FMMP TF SFRVJSJÂ EF DVB USP FRVJQPT RVJSÈSHJDPT FO DBEB VOP EF MPT E½BTw FYQMJDÂ FM N¹EJDP 4FÁBMÂ RVF BOUF MB FTDBTF[ EF ÂSHBOPT TF IBO JOUFOUBEP EJGFSFOUFT NPEBMJEBEFT QBSB BVNFOUBS FM OÈNFSP EF JOKFSUPT EFOUSP EF MPT RVF FTU²O FM EP OBEPS WJWP FM EPOBEPS GBMMFDJEP FM EPOBEPS TJO MB UJEP DBSEJBDP EPOBEPS NBSHJOBM Z SFDJFOUFNFOUF FM USBTQMBOUF TFDVFODJBM P FO DBEFOB 3FDPSEÂ RVF FM USBTQMBOUF SFOBM FT FM NFKPS USB UBNJFOUP QBSB MB FOGFSNFEBE DSÂOJDB UFSNJOBM Z FT N²T FDPOÂNJDB RVF FM USBUBNJFOUP EF EJ²MJTJT RVF BEFN²T TÂMP PGSFDF VOB TPCSFWJEB BM QBDJFOUF EF NFTFT NJFOUSBT RVF FM USBTQMBOUF MF EB VOB WJEB OVFWB Z IBTUB EF TPCSFWJWFODJB 7JMBUPC² $IBQB JOGPSNÂ RVF MPT BOUFDFEFOUFT RVF IBZ FO .¹YJDP DJSVH½BT EF FTUF UJQP TPO DBTPT EF USBTQMBOUF DSV[BEPT Z VO USBTQMBOUF FO DBEFOB FO EPT QBDJFOUFT QFSP MB QSPF[B BIPSB GVF RVF TF FGFDUÈP FO DVBUSP QBDJFOUFT %FUBMMÂ RVF EF BDVFSEP DPO FM $FOUSP /BDJP OBM EF 5SBTQMBOUFT FO MB BDUVBMJEBE IBZ NJM QBDJFOUFT FO MJTUB EF FTQFSB B OJWFM OBDJPOBM Z TÂMP TF SFBMJ[BSPO EPT NJM DJSVH½BT EF MPT DVBMFT NJM GVFSPO EF EPOBS WJWP Z EF GBMMFDJEP "CVOEÂ RVF FO DVBOUP B DPTUP FM USBTQMBOUF SFQSFTFOUB VO BIPSSP BVORVF EF NPNFOUP TF SFBMJDF VO HBTUP GVFSUF QVFT MB EJ²MJTJT Z MPT USB UBNJFOUPT QBSB FOGFSNPT SFOBMFT UFSNJOBMFT TPO NVZ DPTUPTPT " OJWFM QSJWBEP FM DPTUP EF VOB DJSVH½B EF USBT QMBOUF FT FOUSF NJM B NJM QFTPT EFQFOEJFO EP EFM IPTQJUBM Z EFM FRVJQP RVF PDVQFO BHSFHÂ 7J MBUPC² $IBQB /PUJNFY &41&$*"-

#&/&'*$*"34& %&- 3*º»/ &M QPUFODJBM EF EPOBDJØO SF OBM QVFEF MMFHBS B JODSFNFOUBSTF IBTUB FO .ÏYJDP

1~(*/" #

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

%PNJOHP EF NBZP EF

13&7&/$*»/ 6/ &/&.*(0 1"3" -" 4"-6%

"VNFOUB

+»7&/&4 -PT NFOPSFT EF DVBSFOUB B×PT TPO MPT RVF QB EFDFO MPT TÓOUPNBT

FM TÓOESPNF EF BHPUBNJFOUP

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

Ê«>ìV i Ì ÊÃiÊ >Ê VÀi i Ì>` Ê i Ê ÃÊÖ Ì ÃÊ> ÃÊìÊ > iÀ>Ê iÝ« i V > °Ê ÃÊ À >`>ÃÊiÝViÃ Û>ÃÊ ìÊÌÀ>L> ÊÃ Ê >ÃÊÀiÃ« Ã>L iÃ

M BDUVBM SJUNP EF WJEB FO .¹YJDP IBDF RVF MBT QFSTPOBT FOUSF Z BÁPT QBEF[DBO DPO N²T GSF DVFODJB FM T½OESPNF EF CVSOPVU P EF RVFNBSTF QPS FM USBCBKP MVFHP EF FYQFSJNFOUBS BMUPT OJ WFMFT EF FTUS¹T EFOUSP EF TV FO

UPSOP MBCPSBM %F BDVFSEP DPO FM FTUVEJP EF MB &TDBMB .F YJDBOB EF %FTHBTUF 0DVQBDJPOBM &NFEP FGFD UVBEP QPS MB 6OJWFSTJEBE /BDJPOBM "VUÂOPNB EF .¹YJDP 6/". FO N²T EF QSPGFTJPOJTUBT FM QPS DJFOUP QSFTFOUÂ BMHÈO HSBEP EF FTUS¹T NJFOUSBT RVF TBMJÂ DPO BMUPT ½OEJDFT EF FT UF BEFN²T EF EBÁPT G½TJDPT &M T½OESPNF TF QSFTFOUB QPS FM USBCBKP EFT HBTUF QSPGFTJPOBM P BHPUBNJFOUP PDVQBDJPOBM Z TF EFUFDUB QPS FTUS¹T DBOTBODJP G½TJDP Z NFOUBM DSÂOJDP BDUJUVE GS½B Z EFTQFSTPOBMJ[BEB EFTIV NBOJ[BDJÂO DJOJTNP Z TFOUJNJFOUPT EF JOBEF DVBDJÂO B MBT UBSFBT B EFTBSSPMMBS " QFTBS EF RVF QSFTFOUB UPEBT MBT DBSBDUF S½TUJDBT EF VO T½OESPNF OP TF SFDPOPDF BÈO EFO USP EF MBT DMBTJGJDBDJPOFT QTJDPQBUPMÂHJDBT JOUFS OBDJPOBMFT EFM NBOVBM EJBHOÂTUJDP Z FTUBE½TUJDP EF MPT USBTUPSOPT NFOUBMFT %4. *7 EF MB "TP DJBDJÂO "NFSJDBOB EF 1TJRVJBUS½B /VNFSPTPT FTUVEJPT JEFOUJGJDBO MPT T½OUP NBT FO USFT UFSSFOPT FM QSJNFSP FO G½TJDP DPO BM UFSBDJPOFT DBSEJPWBTDVMBSFT DPNP IJQFSUFOTJÂO P FOGFSNFEBE DPSPOBSJB GBUJHB DSÂOJDB DFGB MFBT BMUFSBDJPOFT HBTUSPJOUFTUJOBMFT DPNP ÈMDF SB EVPEFOBM P DPMPO JSSJUBCMF NJBMHJBT BTNB JO TPNOJP EJTGVODJPOFT TFYVBMFT EJTNFOPSSFB FOUSF PUSBT &M TFHVOEP TPO MBT BMUFSBDJPOFT DPOEVDUVB MFT RVF TF QVFEFO FYUFSJPSJ[BS B USBW¹T EF EFTÂS EFOFT BMJNFOUJDJPT BCVTP EF ESPHBT G²SNBDPT Z BMDPIPM DPOEVDDJÂO UFNFSBSJB Z UBCBRVJTNP : FO UFSDFS QMBOP MBT BMUFSBDJPOFT FNPDJP OBMFT TF FYIJCFO DPO JSSJUBCJMJEBE BOTJFEBE EF QSFTJÂO CBKB BVUPFTUJNB EFTNPUJWBDJÂO EJGJ DVMUBEFT EF DPODFOUSBDJÂO EJTUBODJBNJFOUP FNPDJPOBM Z GSVTUSBDJÂO -B 0SHBOJ[BDJÂO QBSB MB $PPQFSBDJÂO Z %F TBSSPMMP &DPOÂNJDPT 0$%& JOEJDB RVF .¹YJ DP PDVQB FM QSJNFS MVHBS B OJWFM NVOEJBM FO FT US¹T MBCPSBM DPO KPSOBEBT EF USBCBKP FYDFTJWBT BEFN²T EF NFOPT E½BT EF WBDBDJPOFT BM BÁP RVF PUSPT QB½TFT &O VOB FOUSFWJTUB DPO MB "HFODJB *OGPSNB UJWB EFM $POTFKP /BDJPOBM EF $JFODJB Z 5FDOPMP H½B $POBDZU FM EPDUPS FO DJFODJBT BENJOJTUSB UJWBT EF MB 6OJWFSTJEBE "VUÂOPNB EF 5MBYDBMB 6"5 *HOBDJP "MFKBOESP .FOEP[B .BSU½OF[ EJ KP RVF FT JNQPSUBOUF DPODJFOUJ[BS B MBT FNQSF TBT EF RVF FTUF T½OESPNF BGFDUB UBOUP BM USBCBKB EPS DPNP B MB DPNQBÁ½B i&T VOB DBEFOB DPO VO FOGPRVF BENJOJTUSB UJWP Z QTJDPMÂHJDP TPDJPFNPDJPOBM VOB QFSTPOB RVF FNQJF[B QPS EFTHBTUF DBOTBODJP MVFHP EFT QFSTPOBMJ[BDJÂO Z CBKB SFBMJ[BDJÂO QFSTPOBM WB B FOGFSNBS B PUSBTw JOEJDÂ .FOEP[B .BSU½OF[ i&M NFYJDBOP FT NVZ DPNQSPNFUJEP DVBO EP TBCFNPT MMFHBS B ¹M DVBOEP OP JOUFHSBNPT VO FRVJQP OJ TPNPT CVFOPT EJSFDUJWPT WBT B UFOFS UPEP FO DPOUSB NFOPT DPNQSPNJTP Z NVDIPT QSPCMFNBT NVDIP SFODPS &T JNQPSUBOUF DPOP DFS MB QBSUF TPDJPFNPDJPOBM EF UV QFSTPOBM TVT FNPDJPOFT SFTQFUBSMP USBUBSMP CJFOw BHSFHÂ &M JOWFTUJHBEPS NFODJPOÂ RVF FO MB BDUVBMJ EBE IBZ UFPS½BT PCTPMFUBT QBSB FOUFOEFS MPT EF UPOBOUFT EFM T½OESPNF EF CVSOPVU FO MPT NFYJ DBOPT QPS FMMP FT DPOWFOJFOUF DPOPDFS P DSFBS OVFWBT UFPS½BT DPO CBTF FO MBT DBSBDUFS½TUJDBT EFM NFYJDBOP ZB RVF UBNCJ¹O TF USBUB EF VO QSP CMFNB DVMUVSBM i-B SJRVF[B EF OVFTUSB DVMUVSB QVFEF TFS NVZ CVFOB QBSB TBDBS BEFMBOUF MBT PSHBOJ[BDJP OFT 5FOFNPT NVDIB SJRVF[B FO MB DVMUVSB QFSP UBNCJ¹O NVDIPT QSPCMFNBT QPS FTP UFOFNPT RVF USBCBKBS EF NBOFSB NVMUJEJTDJQMJOBSJBw NB OJGFTUÂ "OUF FTUPT QSPCMFNBT FM FTQFDJBMJTUB EJKP RVF FT OFDFTBSJP RVF MPT JOWFTUJHBEPSFT FO .¹ YJDP DSFFO NFKPSFT JOTUSVNFOUPT BEFN²T EF NPEFMPT QBSB NFEJS FM T½OESPNF BT½ DPNP EFTB SSPMMBS VOB UFPS½B RVF WFB FM QSPCMFNB FNPDJP OBM TPDJBM Z DVMUVSBM 1BSB DPOUSBSSFTUBS FTUF T½OESPNF .FOEP [B .BSU½OF[ SFDPNFOEÂ VO FTUJMP EF WJEB TBMV EBCMF DPO FKFSDJDJP BMJNFOUBDJÂO CBMBODFBEB EFTDBOTP BTFTPS½B EF VO UFSBQFVUB QTJDPMÂHJDP P FO TV EFGFDUP NFEJUBDJÂO V PUSBT U¹DOJDBT EF SFMBKBDJÂO /PUJNFY