9LYD
FRP DWLWXGH (VWLOR
TXH VH FRQVHJXH
VHQWLU
Ë1',&(
6$&26
02&+,/$6
7 6+,576
32/26
&$0,6$6
6:($76 32/$5(6
%/86¯(6 &2/(7(6
'(632572
&2/(d®2
%21e6
7$3(7(6
$&(66Ð5,26 &203/(0(1726
A+/ - )-
, ( 5! A , 'A
A'
VXD
RP D F U D QDOL] R V U H QWRV UD S H D Y S H O ,GHD RYHU P R U S D RX F U D P
3 , A A -. "-
A&5!
"-A!),
ยฃ
A A
ยฃ ยง
p
ยง
5')*,) /4 &54 ') * ,-)( ')2*),. A5' 5 . (., " . ,' ( ( A* % ) -.
3 , A A -. "-
),A&5!
"-A!
5')*,) /4 ')54 & ( ) * ,')2*),. 5 . 5' A " (., (. ( ' , A* -.) %-
" £
p
-.AA,3
A ,. ), -
"-
, ),A
& )& ) ,A ,
)
A&5!
"-A!),
1( 672& . 3(50$
*2/'
5($/ *5((1
/,0(
5('
25$1*(
$72//
%52:1
6$1'
%/$&.
:+,7(
A )'A ), / &5
)-A A+
)-A- *,) /45'
(1 75(* $ ,0('
52<$/
1$9<
)8&+6,$
-A050 -
ยฃ ยง
p
ยง
17(
,$7$
A /,.
AAA & A A A A A A A < A A A AA 8 v AA9 )AAAAA8
AA
9;A '
A'
- )A
OHJDQWH XHQR H H T H S R F PHiYHO 6D H LPSHU UHV H Y H O R LW 0X DOHJ ULDGDV H &RUHV YD L]iYHO WLO UHX UVRQDOL]DU H S H )iFLO G
50 672& . 3(
DU HUVRQDOL] S D U D S O D ,GH DUFD RX P D X V D RV FRP YHU HYHQW R P R U S D SDU
$1(17(
,0(' ,$7$ (1 75 (* $
V D SUHVHQWH U D S H W Q OH ([FH V V IDUPiFLD OHPEUDQoD HOHPyYHLV EULQGHV H W FHVVyULRV D D ÐWLPR SDU GLPHQV}HV DV Q GH SHTXH
,-V. 5A0 A 50 V /.5&54 - )-A,
A'ย )A )A
<
89 8
9;A '
. A /,
&
x
)' - )A &
v
-
*ROG
JH
2UDQ
LD
)XFKV
%$ R
:KLWH
ยฃ ยง
p
ยง
m 6DFR GH 0 [ FP FP $OoD &XUWD
5HG
1DY\
5R\DO
$WROO
/LPH
6DQG
%URZ
Q
%ODFN
HHQ
ยฟQR
H H OH JD
*U 5HDO
BVHP FRVWX QWH UD
V
-.AA,3 "-
3DFN XQ
1RQ :RYHQ
A&5!
"-A!),
AAA &
; 8? 9:
& AA )'A!)
)AA ' A A - )
,. A /
AA
9;A '
LRQDO R H IXQF YHO LF W i U S R 6DF IRUWi YH H FRQ LVWHQWH 0XLWR OH V iYHO H UH ,PSHUPH GDV H DOHJUHV ULD &RUHV YD L]iYHO WLO X H U ]DU HUVRQDOL S H G LO F )i 50 672& . 3(
(1 75 (* $
$1(17(
,0(' ,$7$
V DUD OLYUDULD HV S R F D V H W ([FHOHQ LDV EULQG V IDUPiF LD U D P IX JHUDO U SH RPSUDV HP F D U D S R ÐWLP
VRQDOL]DU U H S D U D S ,GHDO PDUFD RX FRP D VXD HU HYHQWRV RY SDUD SURP
- )&# A A , ) # & A-/ A'
'A- )-
)& AA
- )A
)'A! A'ย )A
A /,. AA 9;A '
AA & ;
v
8? 9:
)' - )A &
v
5HG
%$ R
)XFKVLD
m 6DFR GH 0 &RP IROH FP [ [ FP $OoD &XUWD
2UDQJH *ROG
UHHQ
* 5HDO /LPH 1DY\ 5R\DO $WROO
:KLWH %ODFN %URZQ 6DQG
3 , A A . "-
3DFN XQ
1RQ :RYHQ
ยฃ ยง
p
ยง
A&5!
"-A!),
AA
:7 = 9 A A A A' )A
- )A
9;A ' . , A /
&
LO mR YHUViW 6DFR GH P PSUDV HP FR ,GHDO SDUD XSHUPHUFDGRV H V PHUFDGRV V H GH FRUH G D 'LYHUVLG O H WLOL]iY 5HX U HUVRQDOL]D )iFLO GH S 50 672& . 3(
(1 75 (* $
DOL]DU Q R V U H S D ,GHDO SDU DUFD RX P D X V D FRP HYHQWRV U H Y R P R U SDUD S
$1(17(
,0(' ,$7$
5! , (
A A' , 'A / A+ ) -
A 'AA
A ; AAA9 . , / A AAAA & A A A 7 A : A A A = x A 9 AAA ย )AAAAA ย
)' - )A &
A'
- )A
ย
JH
2UDQ
*ROG
5HG
%$ mR
LD
)XFKV
6DFR GH 0 [ FP FP $OoD &XUWD
%ODFN UHHQ
* 5HDO
5R\DO
6DQG
%URZ
$WROO
ยฟQ
R H
1DY\
HOH
JDQWHBVHP F R DV
:KLWH
3 , A A . "-
1RQ :RYHQ
A&5!
"-A!),
U WX
3DFN XQ
Q
V
/LPH
ยฃ ยง
p
ยง
76
W 5 & A'
7 AAA9= : & ) ! A )AA )'
v
A)' , A ) -
UViWLO WLFR H YH OHJDQWH i U S R F D 6 H YH Ã&#x20AC;QR H 0XLWR OH O H UHVLVWHQWH YH &RQIRUWi HO H YLVWRVR iY ,PSHUPH GDV H DOHJUHV ULD &RUHV YD L]iYHO WLO X H U ]DU HUVRQDOL S H G LO F i ) 50 672& . 3(
(1 75 (* $
$1(17(
,0(' ,$7$
O R IXQFLRQD HODULDV m P H G R F S 6D UDULDV SD LY O D U D S O D ,GH P JHUDO H V D U S P R H F
A )A'/( ) . , A* A , A.)
)-A*
2*),. '
AA
;6A '
- )A
5 A'X ;6A '
A AAAAAAA & x A A A7A6 7 A : A A A = A AAA AAA9
'A!)&
)A ) A)' ,
)' - )A &
x
%$ H 2PEUR
)XFKVLD 5HG
6DFR G &RP IROH FP [ [ FP $OoD 0pGLD
2UDQJH *ROG
/LPH 5HDO *UHHQ 1DY\ 5R\DO $WROO
:KLWH %ODFN %URZQ 6DQG
3DFN XQ
3 , A A . "-
1RQ :RYHQ
A&5!
"-A!),
ยฃ ยง
p
ยง
76
9= :7 A & ) ! 'A
)&)A )
5,
- )A.
GR H VRÀVWLFD H W Q D J OH H 6DFR [tYHO ÀQR H ÁH 0XLWR OHYH IRUWiYHO RQ 3UiWLFR H F GHVJDVWH R D H W 5HVLVWHQ YHO i H H LPSHUP JUHV G D DV H DOH &RUHV YDUL L]iYHO UHXWLO RQDOL]DU HUV )iFLO GH S 50 672& . 3(
(1 75 (* $
(" A & A&)
x
L]DU UVRQDO H S D U D X ,GHDO S XD PDUFD R WRV V H D Y H Q FRP PRYHU R U S D SDU
$1(17(
,0(' ,$7$
UDLD VDFR GH S H W Q OH H F [ ( R RPEUR D U D V X D U JHUDO P SD H V D U S P D FR ÐWLPR SDU
/ A' 5
*,)
)-A[A /45')-A
A
=;A 'A
AAAAA &)(" A & AAAAA AA A AA7A A7A6 = A A: 9 A A x A A A A!)& ' ) =; ' A &)
.5, )
- )A
)' - )A &
x
2UDQJH
%$ ROR
)XFKVLD
5HG
6DFR 7LUDF &RP IROH FP [ [ D FP $OoD /RQJ
*ROG
$WROO /LPH 5HDO *UHHQ
IROH Q D FRP
V ED
1DY\
HBPDLRU FD
5R\DO
D GH
:KLWH
-.AA,3 "-
1RQ :RYHQ
FLG
3DFN XQ
%URZQ
%ODFN
SD
6DQG
ยฃ ยง
p
ยง
A&5!
"-A!),
& A )'A!) ,)AA
76 :; ::
5 A'W
&
x
A)'
- )A
VR H H Y LVWR G Q D U J R 6DF iYHO WH H GXU 5HVLVWHQ EDPHQWR FD ÐWLPR D GH FRUHV GH D 9DULHG O XWLOL]iYH ]DU H U OL D Q R SHUV )iFLO GH 50 672& . 3(
(1 75 (* $
$1(17(
,0(' ,$7$
URXSDV H ,GHDO SDUD P JHUDO FRPSUDV H RXSDV GH D U ÐWLPR SDU HQV}HV LP JUDQGHV G
OL]iYHO D Q R V U H S 6DFR URPRYHU S D U D S O D ,GH YHQWRV H H D M R O D VXD . A, -5-. ( A . ( " - )-A &
AA
;6A '
X 5 AA ' A AAAA & AA AA7A6A : A : A A x A ' A A ; A : A A A A A & ;6 ) ! A )A )'
A)' , A ) -
)' - )A &
x
ยฃ ยง
p
ยง
)XFKVLD
%$ EUR
5HG
P 6DFR GH 2 &RP IROH FP [ [ FP $OoD 0pGLD
2UDQJH *ROG
/LPH 5HDO *UHHQ
1DY\
5R\DO $WROO
:KLWH %ODFN %URZQ 6DQG
3DFN XQ
3 , A A . "-
1RQ :RYHQ
A&5!
"-A!),
AA
' 5 ;6A W ' A
- )A
AAAA & AAA A A A 6 A 7 A A A A < A A x A9 AAA AA6 AA; & ) ! A )A )'
A)' ,
QWH GH H HOHJD 6DFR JUDQ O RQIRUWiYH 3UiWLFR H F PHiYHO SHU /HYH H LP GH FRUHV 9DULHGDGH iYHO LOL] UHXW U HUVRQDOL]D S H )iFLO G 50 672& . 3(
(
$1(17(
OL]iYHO D Q R V U H S 6DFR RYHU P R U S D U D S ,GHDO FD D VXD PDU
(' ,$7$ 1 75 (* $ ,0
V SDUD ORMD ([FHOHQWH GR mR H FDOoD H GH FRQIHo G D REMHFWRV ÐWLPR SDU V H LPHQV} JUDQGHV G
*,
A- )-A ) /45')
A+/ &5
A
- )A
A X 5 AAA ' A AAAA & x AA A < A A7A6 A A9 A A 6 A ; A A A A ;6A ' )& A ! A ' ) A )' ,)
)' - )A &
x
ยฃ ยง
p
ยง
)XFKVLD 5HG
%$ EUR
2UDQJH
P 6DFR GH 2 &RP IROH FP [ [ FP $OoD 0pGLD
*ROG
/LPH 1DY\
5HDO *UHHQ
5R\DO $WROO
:KLWH %ODFN %URZQ 6DQG
3 , A A . "-
3DFN XQ
1RQ :RYHQ
A&5!
"-A!),
AA
A ' 5 ;6 W ' A
AAAA & AA AA A7A6 A A A A : A A : A A A A AA6 )& AAA< A )'A!
x
)A
, A)' A ) -
VR GH H YLVWR 6DFR JUDQ HiYHO H LPSHUP 5HVLVWHQWH UWiYHO IR /HYH H FRQ FRUHV H G H 9DULHGDG iYHO L] LO UHXW U V U H RQDOL]D )iFLO GH S 50 672& . 3(
(1 75 (* $
$1(17(
,0(' ,$7$
D SUDLD ,GHDO SDUD P JHUDO H V D U S P R H F D URXSDV ÐWLPR SDU LPHQV}HV V G GH JUDQGH
0 5A5'* ,' V A . ( " - )-A &
A
- )A
5 A'X & A A A A AA7A6AA A AA:A x AA: A6A < A A A A & ) ! A ;6A ' )' A ) , )'
P 6DFR GH 2 &RP IROH FP [ [ FP $OoD 0pGLD
2UDQJH
*ROG
1DY\
5R\DO
/LPH
5HDO *UHHQ
6DQG
$WROO
%URZQ
:KLWH
%ODFN
3 , A A . "-
3DFN XQ
1RQ :RYHQ
A&5!
"-A!),
x
%$ EUR
)XFKVLD
5HG
)' - )A &
A'W 5 & A A A AA AA AA7A6 AA AAA? x AA9 A A A ; A A < A 'A!)&
AA
;6A '
)A )
A)' , A )
-
QWH GH H HOHJD Q UD J R F D 6 O RQIRUWiYH 3UiWLFR H F HQWH LVW /HYH H UHV H FRUHV D G 9DVWD JDP iYHO LOL] UHXW U HUVRQDOL]D S H )iFLO G
V D VDSDWDULD U D S H W Q OH ([FH FRQIHomR H H ORMDV GH G D REMHFWRV ÐWLPR SDU LPHQV}HV JUDQGHV G
O RQDOL]iYH 6DFR SHUV URPRYHU S ,GHDO SDUD FD U D VXD PD
, - (
&),A )A. ')-A0
/A( "X 5)
AAA 'X 5 A x 6A 'A ;
A A AAA & 76A
AAAAA 9?
AA;AAAAA AAA< & ) ! 'A
)A )
A)' , )A
-
QtY 'LVSR
HLV S
RU H
HQG QFRP
)' - )A &
ย
D
ยฃ ยง
p
ยง
)XFKVLD 5HG
%$ EUR
2UDQJH *ROG
%URZQ 5HDO *UHHQ 1DY\ 5R\DO $WROO
/LPH :KLWH %ODFN 6DQG D GH XQ FRPHQGD PtQLP HQ E VR GR ]L GX R GH VDFR SUR
0RGHO
3 , A A . "-
3DFN XQ
1RQ :RYHQ
A&5!
"-A!),
P 6DFR GH 2 &RP IROH FP [ [ FP $OoD 0pGLD
$ 0 , 5 3 $ , 5 e 7 $ 0 ( ' 672&.
9; ' . A /, AAA nA &
)&),A 5 A A A A AA AA AA AA:A7A AAA AA= A9 A A A A A A A A ) Â&#x2026; ' A
- )A
DV H GXDV DOo G U OR R LF 6DFR E YHUViWLO 3UiWLFR H VLVWHQWH /HYH H UH WR H GLVFUH ,QRYDGRU HUVDV &RUHV GLY U UVRQDOL]D H S H G LO )iF 50 672& . 3(
(1 75 (* $
x
omR GH &RPELQD HGLGD P D X V j FRUHV V QDOL]DGR R V U H S V 0RGHOR SDUD VL H W Q H P R V
$1(17(
,0(' ,$7$
,' ($/ 3$5
$
(YHQWRV V (PSUHVD
6DFR VHP IROH
)
/( ,. A )A' A* A ) A.
)-A* ,
2*),. '
- )A
A'ย )AA
9= :7
,. A / & A p A ), A 5 )& AAA x9; ' AAA
- ) ,A
5 )&)
*ROG
2UDQJH
5HG
)XFKVLD
/LPH
5HDO *UHHQ
$WROO
5R\DO
1DY\
6DQG
%URZQ
%ODFN
UHG EODFN JROG
UHG U JUHHQ JROG
JROG U JUHHQ
JROG UHG EODFN
RUDQJH UR\DO
3 , A A . "-
3DFN XQ
1RQ :RYHQ
A&5!
"-A!),
ยฃ ยง
p
ยง
%$ mR
6DFR GH 0 [ FP %LFRORU FP $OoD &XUWD
5 A'W & A n ),A A x A 5 )& A A A A A A A 6 A 7 A ;6A ' AAA A < A A 9 A A A A 6 A A AAA & A; A )'A!) ,)AAA
DVBFRPELQ WXU
VHP F RV
$1(17(
,0(' ,$7$
iYHOBPD LR
H
PH
XUDELOLGDG
,P S
HU
omR GH &RPELQD PHGLGD D X V j V H FRU DGRV HUVRQDOL] S V OR H G 0R SDUD VL VRPHQWH
U G
,' ($/ 3$5
GD
GD
(1 75 (* $
FRORUL
WH
D DOo
VRILVWLF mR D Do
50 672& . 3(
H HOHJD LQD Q BI
A)' - )A H ORU JUDQG R LF E R F D 6 OoDV GH GXDV D YHUViWLO 3UiWLFR H iYHO H ,PSHUPH O UHFLFOiYH U UVRQDOL]D H S H G LO )iF
$
(YHQWRV /D]HU 'HVSRUWR
6DFR FRP IROH
*,) /45'
, A)A)-A)A- )A*
/A( "X 5)
AA 'A!)&
)A )
A)' , A )
-
76 ;6 9<
,AA 5 )&) 'X 5 & A x AA' 6A
;
17( 3(50$1 (
672& .
- ) ,
5 )&)
AAA
*ROG
$WROO ' LVS RQ tYH
LV S RU H Q
F
2UDQJH
5HG
)XFKVLD
5R\DO
1DY\
6DQG
/LPH
%URZQ
5HDO *UHHQ
%ODFN
RPHQGD
UHG EODFN JROG
UHG U JUHHQ JROG
JROG U JUHHQ Q
tQLPD GH X
E HQFRPHQGD P
SURGX]LGR VR 0RGHOR GH VDFR
RUDQJH UR\DO
JROG UHG EODFN
3 , A A . "-
3DFN XQ
1RQ :RYHQ
A&5!
"-A!),
ยฃ ยง
p
ยง
%$ PEUR
6DFR GH 2 &RP IROH FP [ [ %LFRORU FP $OoD 0pGLD
6 2 0 , = 8 ' 2 5 3
A
A0 4 " * A A A A AA AAA AA8 AA9 A A A A 9 A A 8 A A A )
A'
- )A
R XHQR ILQ T H S R F D 6 WH H HOHJDQ YHO UHXWLOL]i H H W Q H W 5HVLV H OHYH )OH[tYHO UHV 9iULDV FR DU HUVRQDOL] )iFLO GH S 50 672& . 3(
(1 75 (* $
LH FRP H W Q H V H U 3 U\EDJV 6DFRV 6WR V (OHJDQWH
$1(17(
,0(' ,$7$
,' ($ / 3$5
$
ULDV 3HUIXPD D &RVPpWLF V )DUPiFLD ULDV 2XULYHVD
)LQRV QWHV 3UHVWLJLD
ÐWLFDV %ULQGHV
6DFR VHP IROH
A-/ A' 5
*,) /45')
. A" ' A[ -A/' A0
A
4 " A0 * A A A A A A AA8AAA AA9 8A9 A ย )AAAAA
A'
5HG
LD
)XFKV
HP FRVWXUD V
1DY\
UHHQ
* 5HDO
/LPH
6DQG
$WROO
5R\DO
Q
%URZ
:KLWH
%ODFN
3 , A A . "-
3DFN XQ
1RQ :RYHQ
VFUHWR GL
IROHBILQ HP R
H
V
LWR UHVLV W
2
V
X BP
*ROG
OHJDQWH
UDQJH
HJ
V H DL
S
* ]D D YD GDBP
WH HQ
- )A
A&5!
"-A!),
)' - )A 4 " A0
ยฃ ยง
p
ยง
%$ mR
6DFR GH 0 [ FP GD 3HJD 9D]D
4 A
" A0 * A A A A A A A AA7A6 AA AA9A? AA A< A 9 A A & )'A!) 'Â&#x2026;)AA
A
- )A
WLO GH H H YHUVi U J OH D R F 6D SDFLGDGH PDLRU FD YHO UHXWLOL]i H H W Q H W 5HVLV P XUDV H VH W V R F P H 6 FRODJHQV DU HUVRQDOL] )iFLO GH S 50 672& . 3(
(1 75 (* $
,' ($/ 3$5
$
V %RXWLTXH V ULQTXHGR E H G V D M /R FULDQoDV /RMDV GH /LYUDULDV
$1(17(
,0(' ,$7$
VHXV V R D o H U H 2I P VDFRV H V R W X G R SU LOL]iYHLV W X H U JHP R H W R U S H TX ELHQWH PHLR DP
6DFR FRP IROH
A-/ A' 5
A" ' A[ A/' A0 -.
-
*,) /45')
4 A
)&
*
]D D YD GDBP HJ
)' - )A 4 " A0
V H DL OHJDQWH
S
- )A
)'A! A'ย )A
0 * " A A A A A A 76 A A A ? A AAAA AA A9 AA< AA9
WH HQ
*ROG
LWR UHVLV W
)XFKVLD
2UDQJH
X BP
5HG
FRVWX UD VHP V
DGH
5HDO *UHHQ
LG DF
/LPH
BPDLRU FD S VH
P IROH QD ED FR
1DY\ 5R\DO $WROO :KLWH %ODFN %URZQ 6DQG
3 , A A . "-
3DFN XQ
1RQ :RYHQ
A&5!
"-A!),
ยฃ ยง
p
ยง
%$ mR
6DFR GH 0 &RP IROH FP [ [ GD 3HJD 9D]D
A
4 " A0 * A A A A A AA AA AA8 AA: AA AA: A 9 A A A A ) Â&#x2026;
A'
- )A
OKD OKRU HVFR $ VXD PH HOHJDQWH 3UiWLFR H ULDGDV &RUHV YD QWR DFDEDPH H W Q OH H F ([ HO HO H IOp[LY Y i H P U H ,PS 50 672& . 3(
$1(17(
,0(' ,$7$
(1 75(* $
,' ($ / 3$5
$
/LYUDULDV V 3DSHODULD V %RXWLTXH
6DFR VHP IROH
') &)-
A 'A-.) % , * ' A A-. ( ,
4 A
A'ย )
*
]D D YD GDBP HJ
)' - )A 4 " A0
V H DL
OHJDQWH
S
- )A
0 * " A A A A A A A 8 A A : A AA AAAA AA: AAAAA9
5HDO *UHHQ
1DY\
/LPH
6DQG
5R\DO
%URZQ
$WROO
:KLWH
%ODFN
3 , A A . "-
3DFN XQ
1RQ :RYHQ
LVFUHWR
IROHBILQ HP R
G H
V
WH HQ
)XFKVLD
5HG
LWR UHVLV W
2UDQJH
X BP
*ROG
FRVWX UD VHP V
A&5!
"-A!),
ยฃ ยง
p
ยง
%$ mR
6DFR GH 0 [ FP GD 3HJD 9D]D
A
4 " A0 * A A A A A AA AA8AA A7A6 AA: AA A6 A ; A A & )'A!) A'Â&#x2026;)A
- )A
LVWRVR WLFDGR H Y 6DFR VRILV ULDGDV &RUHV YD WR FDEDPHQ D H W Q OH H ([F GRU H H LQRYD 5HVLVWHQW SRUWH DUD WUDQV 3UiWLFR S 50 672& . 3(
P XPD 6DFRV FR TXLQWDGD H U R m o H O VH GH FRUHV XH DRV T R W P X 'r RV FRP VDF V R J L W U D VHXV RU\%DJV W 6 R [ X O GH
$1(17(
,0(' ,$7$
(1 75(* $
,' ($/ 3$5
$
URXSD /RMDV GH V %RXWLTXH V 6DSDWDULD PDODV H /RMDV GH V DFHVVyULR
6DFR FRP IROH
5) A- /A( "X
*,) /
)A* , A) 45')-A)A-
4 A
WH HQ
*ROG
LWR UHVLV W
)XFKVLD
2UDQJH
FRP IROH QD E
DV D LR HBP U FDS
DF
GH LGD
/LPH 5HDO *UHHQ 1DY\ 5R\DO $WROO
:KLWH %ODFN %URZQ 6DQG
3 , A A . "-
3DFN XQ
1RQ :RYHQ
A&5!
"-A!),
ยฃ ยง
p
ยง
X BP
FRVWX UD VHP V
5HG
*
)' - )A 4 " A0
OHJDQWH
S
-
]D D YD GDBP HJ
V H DL
A'ย ) )A
A0 A* " A A A A 76 A A A A 8 A : ;6 AA AAAA & AAAAA ) ! A ' A )
%$ mR
6DFR GH 0 &RP IROH FP [ [ GD 3HJD 9D]D
$ 7 $ , ' ( 0 , $ * ( (175
- )A
A ,, !
7A"
UDID XPD JDU D U D S R F 6D DUD HUIHLWD S S R m o OX R 6 RIHUWDV GR VRILVWLFD 'LVFUHWR H VLVWHQWH /HYH H UH DU HUVRQDOL] )iFLO GH S 50 672& . 3(
$1(17(
,0(' ,$7$
(1 75(* $
=
7< 9>
,' ($/ 3$5
GR 6RILVWLFD WH H HOHJDQ H ([FHOHQW QWR DFDEDPH
$
(YHQWRV V 3UHVHQWH %ULQGHV
6DFR FRP IROH
. , - (
),A )A ')-A0 &
/A( "X 5)
$1(17(
UH
IRUoDGDBHO
FRP I RO
FLGDGH
FRPHQGD
1DY\
SD
LV S RU H Q
%ODFN
RU
RBPDLRU F D
' LVS RQ tYH
%URZQ
EDVH UHI
6DFR * FP [ [
G oD
QD H
6DQG
%$ DUUDID
LVFUHWR
VH
WH
VWXUDVBI FR LQ
:KLWH
*ROG
5HG
2UDQJH
)XFKVLD
$WROO
5R\DO
5HDO *UHHQ
XQ
HQGD PtQLPD GH
GR VRE HQFRP GH VDFR SURGX]L
0RGHOR
3 , A A . "-
3DFN XQ
1RQ :RYHQ
/LPH
A&5!
"-A!),
ยฃ ยง
p
ยง
H G R
P
H
QWH H UHVLV W JD
50 672 & . 3(
SHJ D
- )
* , - )A ! " ,,
HQ
AAA
, ! A7A" ,
)&
A )'A!
= 7< 9>
, ! -
8A" ,
- )A
=
8? 99
DV DV JDUUDI X G D U D S 6DFR DUD HUIHLWD S 6ROXomR S RIHUWDV LFDGR R H VRILVW G D W LQ X T 5H VLVWHQWH /HYH H UH DU HUVRQDOL] S H G LO F i ) 50 672& . 3(
,' ($/ 3$5
$
(YHQWRV V 3UHVHQWH %ULQGHV
$1(17(
,0(' ,$7$
(1 75(* $
VHXV V R D o H U 2IH P VDFRV H V R W X G SUR HOLFDGRV G V R W Q L W GLV WDGRV H UHTXLQ
6DFR FRP IROH
A' 5
A[A-/ -. A" '
)-A/' A0
*,) /45'
! -A " ,,
=
8? 99
* , - )A ! " ,,
8A
- )A
OoDBHOH
J WH DQ
$1(17(
H UHVLVW
50 672& . 3(
P D FR
H
VR
H QW
QR FH
QW U
P GLYL Vy
FR
ULD
1DY\ SDFLGDG FD H
:KLWH
*ROG
2UDQJH
5HG
)XFKVLD
$WROO
5R\DO
5HDO *UHHQ
XQ
HQGD PtQLPD GH
GR VRE HQFRP GH VDFR SURGX]L
0RGHOR
1RQ :RYHQ
/LPH
3 , A A . "-
3DFN XQ
RU
QGD U H Q F RPH
L
LV S R
%ODFN
OH QD EDVH IR
UoDGRBPD
' LV SRQ tY H
%URZQ
6DFR * FP [ [
IR UH
6DQG
P
%$ DUUDIDV
FR RB
GR OGD
A&5!
"-A!),
ยฃ ยง
p
ยง
,, !
7A" .5" AAA , * - )A
=
7< 99
RV FRP VDF H L H W Q H V 3UH OHJDQWHV H V J D E \ 6WRU LJLDQWHV W V H U S H ILQRV
UUDID D XPD JD U D S R F D 6 QWH 3UHVWLJLD R /HYH H ILQ HUVDV &RUHV GLY DomR IiFLO ] OL D Q R V U 3H 50 672& . 3(
$1(17(
,0(' ,$7$
(1 75(* $
,' ($ / 3$5
$
(YHQWRV V 3UHVHQWH %ULQGHV
6DFR FRP IROH
50 -A 2 &/5 A' ) 5' *,) /4
AA = AA9A9
AAA AAAAA7< ,, !
U SD
UD FRUGmR
BG
R HW
R
H S U
$1(17(
FR H
DW H R SU DGR
50 672& . 3(
RSo} HV G
-
* , - )A ! " ,,
DG XU
A7A" 5" . )A*,
%$ V WLJH
6DFR 3UH *DUUDID FP [ [
WH
EDtQK
D
DG IRUo DBSHJ
V UHVLW P DL HQ D
UH
FRP I RO
1DY\
%ODFN
LV S RU
DFLGDG H
:KLWH
*ROG
2UDQJH
5HG
)XFKVLD
0RG
5R\DO
5HDO *UHHQ
D GH XQ
FRPHQGD PtQLP
GX]LGR VRE HQ HOR GH VDFR SUR
$WROO
1RQ :RYHQ
/LPH
3 , A A . "-
3DFN XQ
DS
' LV SRQ tYH
%URZQ
GD HQFRPHQ
GRBPDLRU F
6DQG
D Uo
EDVH UH QD IR H
A&5!
"-A!),
ยฃ ยง
p
ยง
( 7 1 ( ( 1 7 $ 1 0 5 ( ( 1 3 $ . 2& 50 6 37(
76
#5& ) ' A )
-
AAA9= :7 & ) ! A '
A )
L]DomR 3HUVRQDO XVDQGR DVH WLQWDV j E GH iJXD
O LIXQFLRQD OW X P R F D 6 PmR PRFKLOD YHUViWLO 3UiWLFR H VLVWHQWH /HYH H UH ULDGDV &RUHV YD U UVRQDOL]D H S H G LO )iF 50 672& . 3(
$1(17(
,0(' ,$7$
(1 75(* $
,' ($/ 3$ 5
$
'HVSRUWR (YHQWRV
A' 5
A[A-/ -. A" '
)-A/' A0
*,) /45'
:7 76!)&
= )'A A AAA 9 & ) ! A )' #5& A
A )-A ,.5" 'A 05 "
')
- )A
A& 4
,
2UDQJH
*ROG
5HG
%$ F KLOD
6DFR 0R FP [ [
)XFKVLD
V ED
IROH Q D FRP
HBPDLRU FD
%URZQ
D GH
6DQG
/LPH
5R\DO
$WROO
%ODFN
:KLWH
3 , A A . :KLWH
"-
3DFN XQ
1RQ :RYHQ
FLG
1DY\
SD
5HDO *UHHQ
A&5!
"-A!),
ยฃ ยง
p
ยง
76
&
9< :;
) A )'A! , * A - ) )- * . }HV HV GLPHQV G Q D U J H 6DFR G QFLRQDO 3UiWLFR IX 5HVLVWHQWH DEDPHQWR DF ([FHOHQWH V H GH FRUH 'LYHUVLGDG RQDOL]DU HUV )iFLO GH S 50 672& . 3(
$1(17(
,0(' ,$7$
(1 75 (* $
,GHDO SDUD ]DU SHUVRQDOL UFD FRP D PD DULD SDW GD VXD VD )
A )A'/( . , A* A.) A
)-A* ,
2*),. '
'A!)&
-A ) * .)
, A-
* - )A 50 672& . 3(
76
9< :;
$1(17(
A )-A ,.5" 'A 05 " A& 4
,
:KLWH
' LVS RQ tYH
LV S RU H Q
FRPHQGD
%$ 6DSDWRV
1DY\
%URZQ
6DQG
%ODFN
*ROG
/LPH
2UDQJH
5HDO *UHHQ
5HG
)XFKVLD
5R\DO
$WROO
LPD GH XQ
HQFRPHQGD PtQ
URGX]LGR VRE RGHOR GH VDFR S
0
3 , A A . "-
3DFN XQ
1RQ :RYHQ
ยฃ ยง
p
ยง
A&5!
"-A!),
6DFR 3DUD &RP IROH FP [ [
)A ( )-.
U
D RQDOL] V U H S DUD D ,GHDO S DUFD GD VX P FRP D KLD Q FRPSD
8; 99
QIRUWiYHO UViWLO H FR H Y R R VW R F (Q R H SUiWLF OHYH Ã&#x20AC;Q R LF Q Lp LJ + VR YHO H YLVWR ,PSHUPHi DV H DOHJUHV DG &RUHV YDUL RQDOL]DU HUV S H G LO )iF
50 672& . 3(
$1(17(
,0(' ,$7$
(1 75 (* $
*,) /4
A+/ &5 A S ¦ / 5')-A-)&
8; 99
ILR HP
OLpVWHUBDGH
WH DR YHOF U
R S
A )-A ,.5" 'A 05 " A& 4
JH
2UDQ
LD
)XFKV
5HG
%$ H
(QFRVWR G &DEHoD [ FP
UHHQ
* 5HDO
1DY\
5R\DO
/LPH
6DQG
%URZ
:KLWH
$WROO
Q
%ODFN
3 , A A . "-
3DFN XQ
1RQ :RYHQ
A&5!
"-A!),
ยฃ ยง
p
ยง
*ROG
,
R
(
Q UH
A A x )-.)
A * A A ! ) ' &
9: 96
]DU SHUVRQDOL ,GHDO SDUD GD VXD FD FRP D PDU LD K Q FRPSD
OPRIDGD &DSD GH $ WiYHO IRU 0XLWR FRQ H SUiWLFD 0XLWR OHYH PSHUPHiYHO H , 5HVLVWHQWH UHV GDV H DOHJ &RUHV YDULD QDOL]DU UVR )iFLO GH SH 50 672& . 3(
$1(17(
,0(' ,$7$
(1 75(* $
A* ,. , A.) A
)-A*
2*),. '
)
A )A'/(
* A
! A &')
9: 96
A )-A ,.5" 'A 05 " A& 4
2UDQJH
*ROG
5HG
)XFKVLD
%$ 5HDO *UHHQ
1DY\
/LPH
%URZQ
6DQG
5R\DO
$WROO
%ODFN
:KLWH
3 , A A . "-
3DFN XQ
1RQ :RYHQ
A&5!
"-A!),
ยฃ ยง
p
ยง
,
&DSD GH $OPRIDGD [ FP
/ & 5( 505 - A AA'
:8 96
D 3XEOLFLWH SUHVD D VXD HP HIHLomR U D G D U R QD K
D O GH PHV ,QGLY LGXD ODU UHFWDQJX LH GD VXSHUItF 3URWHJH D UXtGR LQXLQGR R LP G D V H P UHV V H WDOKH GH SUDWR DU HUVRQDOL] )iFLO GH S 50 672& . 3(
$1(17(
,0(' ,$7$ (1 75 (* $
,' ($/ 3$5
$
WHV 5HVWDXUDQ U 6QDFN ED &DIp &DQWLQDV
-
2 &/-50) A ) & 45')-A')
*,) /
A' - A & /
:8 96
A )-A ,.5" 'A 05 "
5( 505
A& 4
*ROG
2UDQJH
5HG
%$ O
)XFKVLD
,QGLYLGXD GH PHVD [ FP
/LPH
5HDO *UHHQ
$WROO 5R\DO
6DQG
%URZQ
1DY\
%ODFN :KLWH
3 , A A . "-
3DFN XQ
1RQ :RYHQ
A&5!
"-A!),
ยฃ ยง
p
ยง
,
02&+,/$6 $ 9,'$ 6(035( &2/25,'$
6$&2 02&+,/$ 08.8$
0. 6DFR PRFKLOD HP SROLpVWHU &DSDFLGDGH OLWURV ([FHOHQWH SDUD WUDQVIHUH GH VHULJUDILD H VHULJUDILD D FRU
&$1726 25,*,1$,6
5('
'LPHQV}HV FP /$5*85$ FP $/785$
*2/'
25$1*(
5('
)8&+6,$
/,0(
.(//< *5((1
$72//
52<$/ %/8(
1$9<
%/$&.
32/,e67(5 '
:+,7( 5('
02&+,/$ %$&.3$&. 6(7$6 6%
E\
0RFKLOD GHVSRUWLYD FRP GXDV DOoDV %RLV EROVRV IURQWDLV FRP IHFKR 'RLV EROVRV ODWHUDLV HP UHGH 7UDVHLUD DOPRIDGDGD
)(&+26 &20 38;$'25(6
5(' %/$&.
'LPHQV}HV [ [ FP
52<$/ %/$&. %/8(
6$&2 '(63257,92 '8))(/ 6(7$6 6%
/,*+7 %/$&. *5(<
5($/ %/$&. *5((1
5('
E\
6DFR GH GHVSRUWR ELFRORU %ROVR LQWHULRU $OoD UHJXOiYHO H DPRYtYHO
3(*$ &20 9(/&52
5($/ *5((1 %/$&.
52<$/ %/$&. %/8(
'LPHQV}HV ; ; FP
)(&+26 =,3
/,*+7 %/$&. *5(<
5(' %/$&.
5($/ %/$&. *5((1
%2/62 (;7(5,25 $/d$ 5(*8/Ã&#x2030;9(/
6$&2 $/*2'®2 6(7$6 6% : E\
6% & 6DFR GH FRPSUDV FRP DOoDV FRPSULGDV
'LPHQV}HV FP /$5*85$ FP $/785$ $OoD [ FP
$/*2'®2
1$785$/
%/$&.
%/8(
5('
25$1*(
%277/( *5((1
&+2&2/$7(
/
85$
1$7
$57,*26 '( (;&(/È1&,$ 3$5$ 6,
©/DEHO \RXª
92&È '(6(1+$ $ 68$ (7,48(7$ 1Ð6 )$=(026 2 5(672
*HULPRV R VHX VWRFN GH HWLTXHWDV 6HP TXDQWLGDGHV PtQLPDV SRU HQYLR HQFRPHQGD (QYLRV ([SUHVV HP K 3URJUDPD YiOLGR DSHQDV SDUD DUWLJRV Wr[WLO PDUFD 08.8$ FRP HWLTXHWD HFR ODEHO
)RWRJUDILDV GH H[HPSOR
7 6+,576
3853/( .+$.,
1$9<
52<$/ %/8(
$72//
%277/( *5((1 .(//< *5((1 %5,*+7 *5((1
6.< %/8(
%/$&.
/,0(
)8&+6,$
'$5. *5(< +($7+(5 *5(<
3,1.
5('
6$1'
:+,7(
25$1*(
*2/'
32/26
&$0,6$6
&$68$/ %/8(
:+,7(
3,1.
%(*(
5('
25$1*(
*2/'
%/$&.
3853/(
%5,*+7 *5((1
/,0(
1$9<
+($7+(5 *5(<
52<$/ %/8(
6$1'
:+,7(
$72//
6.< %/8(
6:($76+,576 1$9<
52<$/ %/8(
$72//
5('
25$1*(
)8&+6,$
%5,*+7 *5((1
%/$&.
:+,7(
+($7+(5 *5(<
02&+,/$
.(//< *5((1
/,0(
)8&+6,$
5('
25$1*(
*2/'
$72//
52<$/ %/8(
%52:1
%/$&.
6$1'
25$1*(
:,1(
:+,7(
&25(6 ,1',&$7,9$6 $3(1$6 3$5$ 26 $57,*26 0$5&$ 08.8$ 32'( +$9(5 ',)(5(1d$6 '( 721$/,'$'(6 (175( $57,*26 &25 +($7+(5 *5(< e 0(6&$/'2
%/$&.
&2/(7(6
$9(17$,6
1$9<
%(*(
1$9<
'$5. *5(<
%/$&.
3$5.$6
%/$&.
&$57$ '( &25(6 08.8$ 08.8$ &2/25 &$5'
:+,7(
1$9<
7 6+,576 ƵƌŝŽƐŝĚĂĚĞƐ
ƉĞĕĂ ĚĞ ǀĞƐƚƵĄƌŝŽ ŶĂƐĐĞƵ ĚƵƌĂŶƚĞ Ă ƌĞǀŽůƵĕĆŽ ŝŶĚƵƐƚƌŝĂů ŶŽ ƐĠĐƵůŽ ys///͘ ƉĂůĂǀƌĂ ͞ƚͲƐŚŝƌƚ͟ ŶĂƐĐĞƵ ŶĂ ĚĠĐĂĚĂ ĚĞ ϭϵϮϬ͕ ƚĞŶĚŽ ŶĞƐƐĂ ĂůƚƵƌĂ ŝŶƚĞŐƌĂĚŽ Ž ĚŝĐŝŽŶĄƌŝŽ /ŶŐůġƐ͘ ŵ ϭϵϰϮ͕ Ƶŵ ŐƌƵƉŽ ĚĞ ĂůƵŶŽƐ ĚĞ ƵŵĂ ĞƐĐŽůĂ ŵŝůŝƚĂƌ ĂƉĂƌĞĐĞƵ ŶĂ ĐĂƉĂ ĚĂ ƌĞǀŝƐƚĂ ͞>ŝĨĞ͟ ǀĞƐƟŶĚŽ dͲƐŚŝƌƚƐ ŝŵƉƌĞƐƐĂƐ ĚĂŶĚŽ ĂƐƐŝŵ ŝŶŝĐŝŽ Ă ĞƐƚĂ ƚĞŶĚġŶĐŝĂ ĚƵƌĂĚŽƵƌĂ͘
(VSDOKDU 6RUULVRV
FRP XPD
EĂ ĚĠĐĂĚĂ ĚĞ ϭϵϲϬ ĐŽŵĞĕĂŵ Ă ŐĂŶŚĂƌ ŝŵĞŶƐĂ ƉŽƉƵůĂƌŝĚĂĚĞ ĂƐ ƚͲƐŚŝƌƚƐ ŝŵƉƌĞƐƐĂƐ ĐŽŵ ŽƐ ŵĂŝƐ ƚĞŵĂƐ͗ ƉƵďůŝĐŝƚĄƌŝŽƐ͕ ƚƵƌşƐƟĐŽƐ͕ ƉŽůşƟĐŽƐ͕ ĂƌơƐƟĐŽƐ͕ ŝĚĞŶƟĮĐĂĕĆŽ͕ ĚĞƐƉŽƌƚŽ͕ ĞƚĐ͘ džŝƐƚĞŵ ŝŶƷŵĞƌĂƐ ƚͲƐŚŝƌƚƐ ĐŽŵ ĚĞƐĞŶŚŽƐ ŝĐſŶŝĐŽƐ ĐŽŶƐŝĚĞƌĂĚĂƐ ĐŽŵŽ ĞdžĞŵƉůŽƐ ĚĞ ĐƵůƚƵƌĂ ƉŽƉ͘ ,ŽũĞ Ă ƚͲƐŚŝƌƚ Ġ Ƶŵ ĞůĞŵĞŶƚŽ ĚĞ ǀĞƐƚƵĄƌŝŽ ĐŽŶƚĞŵƉŽƌąŶĞŽ ƐĞŶĚŽ ƵƟůŝnjĂĚŽ ƉĞůŽƐ ŵĂŝƐ ĞdžŝŐĞŶƚĞƐ Ğŵ ƚĞƌŵŽƐ ĚĞ ŵŽĚĂ͊
7 6+,57 7 6+,576 '( (;&(/È1&,$
7 6+,576
7 6+,576 08.8$ $ 3(16$5 (0 6,
7 6+,57 08.8$ 0,5$%,/,6
0. : 0. & 7 VKLUW XQLVH[R GH PDQJD FXUWD HP PDOKD MHUVH\ &RUWH WXEXODU FRP GHFRWH PRGHUQR 'XSOR ULE FRP SHVSRQWR ~QLFR H HOHJDQWH 7DSD FRVWXUDV GH RPEUR D RPEUR
$
6
0
%
/
;/
;;/
$ % 5('
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
&25 + *5(<
$/*2'®2 32/,(67(5
:+,7(
7RS
GS '(6,*1(' 32578*$/
,1
6.< %/8(
$72//
52<$/ %/8(
$/*2'®2
129,'$'(
1$9<
+($7+(5 *5(<
%/$&.
:+,7(
*2/'
25$1*(
5('
/,0(
5('
7 6+,57 08.8$
0. : 7 VKLUW XQLVH[R GH PDQJD FXUWD HP PDOKD MHUVH\ VXSHU PDFLD &RUWH WXEXODU FRP GHFRWH PRGHUQR 'XSOR ULE FRP OLFUD FRP SHVSRQWR ~QLFR H HOHJDQWH 7DSD FRVWXUDV GH RPEUR D RPEUR
WDSD FRVWXUDV RPEUR D RPEUR
SHUIHFW VWLWFK
$
0
6
:+,7(
%
/
;/
;;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
7RS $/*2'®2
:+,7(
:+,7(
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
GS '(6,*1(' 32578*$/ ,1
7 6+,57 08.8$
0. & 7 VKLUW XQLVH[R GH PDQJD FXUWD HP PDOKD MHUVH\ VXSHU PDFLD &RUWH WXEXODU FRP GHFRWH PRGHUQR 'XSOR ULE FRP OLFUD FRP SHVSRQWR ~QLFR H HOHJDQWH 7DSD FRVWXUDV GH RPEUR D RPEUR
08.8$ 72*(7+(5
0. 0. 0. 3iJ
3iJ
$
%
0
6
/
;/
;;/
$ % 7$0$1+26 &0
.(//< *5((1
WDPDQKRV SRGHP YDULDU
GS '(6,*1(' 32578*$/ ,1
*2/'
25$1*(
3853/(
7RS
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
6.< %/8(
$72//
52<$/ %/8(
1$9<
3,1.
)8&+6,$
5('
/,0(
$/*2'®2
6$1'
%5,*+7 *5((1
$/*2'®2 32/,(67(5 0(6&/$'2
+($7+(5 *5(<
'$5. *5(<
.(//< *5((1
%277/( *5((1
%/$&. .+$.,
/,0(
7 6+,57 % & (;$&7 78 & 7 VKLUW XQLVH[R GH PDQJD FXUWD HP PDOKD MHUVH\ &RUWH DPSOR H WXEXODU 'XSOR ULE FRP SHVSRQWR D DJXOKDV 3HVSRQWR GXSOR QDV PDQJDV H EDLQKD
78 7:
3iJ
7.
3iJ
6
0
/
;/
;;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
5('
&RU OLPLWDGD DR VWRFN H[LVWHQWH DOJRGmR SROLHVWHU PHVFODGR
DOJRGmR SROLHVWHU PHVFODGR
3,67$&+,2
86(' 9,2/(7
.(//< *5((1 %277/( *5((1
86(' :$6$%, %85*81'<
.+$.,
%($5 %52:1
6$1'
3853/(
)8&+6,$
'((3 5('
',9$ %/8(
5($/ 785482,6(
785482,6(
$6+
5('
$/*2'®2
63257 *5(< '$5. *5(<
%/$&.
25$1*(
$35,&27
*2/'
$72//
52<$/ %/8(
1$9<
$72// 6.< %/8(
7 6+,57 08.8$ '(/8;(
0. : 7 VKLUW XQLVH[R GH PDQJD FXUWD HP PDOKD MHUVH\ &RUWH WXEXODU FRP GHFRWH PRGHUQR 'XSOR ULE FRP OLFUD FRP SHVSRQWR ~QLFR H HOHJDQWH 7DSD FRVWXUDV GH RPEUR D RPEUR $OWD JUDPDJHP H TXDOLGDGH VXSHULRU
6
0
/
;/
;;/
$ % d D E,K^ D
:+,7(
$/*2'®2
:+,7(
:+,7(
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
GS '(6,*1(' 32578*$/ ,1
7 6+,57 08.8$ &25(6 '(/8;(
0. & 7 VKLUW XQLVH[R GH PDQJD FXUWD HP PDOKD MHUVH\ &RUWH WXEXODU FRP GHFRWH PRGHUQR 'XSOR ULE FRP OLFUD FRP SHVSRQWR ~QLFR H HOHJDQWH 7DSD FRVWXUDV GH RPEUR D RPEUR $OWD JUDPDJHP H TXDOLGDGH VXSHULRU
WDSD FRVWXUDV RPEUR D RPEUR
SHUIHFW VWLWFK
6
0
/
;;/
;/
$ %
25$1*(
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
(6&2/+$ ( (;&(/Ã&#x2021;1&,$ 0(/+25 $57,*2 ' $/*2'®2 32/,(67(5
GS '(6,*1(' 32578*$/ ,1
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
+,*+7 48$/,7< 48$/,'$'(
$/7$ *5$0$*(0 683(5,25 $/*2'®2 $57,*2 '( (;&(/Ã&#x2021;1&,$ 0(/+25 (6&2/+$
/,0(
%5,*+7 *5((1
$72//
52<$/ %/8(
1$9<
25$1*(
5('
)8&+6,$
*2/'
6$1'
+($7+(5 *5(<
.+$.,
%/$&.
'$5. *5(<
/,0(
7 6+,57 % & (;$&7 78 :
78 & 7 VKLUW XQLVH[R GH PDQJD FXUWD HP PDOKD MHUVH\ &RUWH DPSOR H WXEXODU 'XSOR ULE FRP SHVSRQWR D DJXOKDV 3HVSRQWR GXSOR QDV PDQJDV H EDLQKD 0DOKD GH JUDPDJHP VXSHULRU
78 7:
3iJ
7. 3iJ
6
52<$/ %/8(
0
/
;;/
;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
:+,7(
$/*2'®2
$OJRGmR 3ROLHVWHU
:+,7(
625%(7
%/$&.
63257 *5(< 6$1'
%277/( *5((1
1$9<
52<$/ %/8(
6.< %/8(
5('
25$1*(
*2/'
625%(7
3853/(
7 6+,57 % & %$6(%$//
78 7 VKLUW GH PDQJD FXUWD HP PDOKD MHUVH\ 0DQJDV UDJODQ HP FRQWUDVWH &RUWH DPSOR FRP FRVWXUDV ODWHUDLV 5LE FRP HODVWDQR
7.
3iJ
6
0
/
;/
:+,7( 5('
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
$/*2'®2
:+,7( 5('
:+,7( 1$9<
:+,7( 5('
7 6+,57 % & $7+/(7,& 029(
70 : 70 & 7 VKLUW GH FDYDV PDVFXOLQD HP PDOKD MHUVH\ &RUWH DPSOR H WXEXODU 3RQWR VLPSOHV QR GHFRWH H FDYDV FRP DFDEDPHQWR HP FORUHWH 3HVSRQWR GXSOR QD EDLQKD
$
0
/
%
;/
$ %
%/$&.
7$0$1+26 &0 WDPDQKRV SRGHP YDULDU
$/*2'®2
:+,7(
%/$&.
%/$&.
1$9<
5('
7 6+,57 % & 0,&. &/$66,& 0(1
70 7 VKLUW PDVFXOLQD PDQJD FXUWD HP PDOKD MHUVH\ 'HFRWH HP 9 &RUWH PpGLR FRP FRVWXUDV ODWHUDLV 70 7:
3iJ
%52:1
$
6
0
%
/
;/
$ %
7$0$1+26 &0 WDPDQKRV SRGHP YDULDU
%52:1
5('
52<$/ %/8(
$/*2'®2
%/$&.
:+,7(
%/$&.
7 6+,57 % & ,**< &/$66,& 0(1
70 7 VKLUW PDVFXOLQD PDQJD FRPSULGD HP PDOKD MHUVH\ 'HFRWH HP 9 &RUWH PpGLR FRP FRVWXUDV ODWHUDLV
70 7: 3iJ
$
6
0
%
/
;/
$ %
7$0$1+26 &0 52<$/ %/8(
$/*2'®2
:+,7(
%/$&.
WDPDQKRV SRGHP YDULDU
1$9<
52<$/ %/8(
52<$/ %/8(
%52:1
5('
7 6+,57 % & (;$&7 0$1*$ &2035,'$
78 : 78 & 7 VKLUW XQLVH[R PDQJD FRPSULGD HP PDOKD MHUVH\ 'HFRWH UHGRQGR &RUWH DPSOR H WXEXODU 'XSOR ULE FRP SHVSRQWR D DJXOKDV 3HVSRQWR GXSOR QDV PDQJDV H EDLQKD
78 7: 3iJ
%
$
6
0
/
;/
;;/
%277/( *5((1
$ %
Ê Ê
7$0$1+26 &0 WDPDQKRV SRGHP YDULDU
:+,7(
$OJRGmR SROLHVWHU PHVFODGR
$/*2'®2
:+,7(
5('
%277/( *5((1
$72//
52<$/ %/8(
1$9<
63257 *5(< '$5. *5(<
%/$&. %277/( *5((1
7 6+,57 % & (;$&7 , 0$1*$ &2035,'$
78 : 78 & 7 VKLUW XQLVH[R PDQJD FRPSULGD HP PDOKD MHUVH\ &RUWH DPSOR H WXEXODU 'XSOR ULE FRP SHVSRQWR D DJXOKDV 3HVSRQWR GXSOR QDV PDQJDV H EDLQKD 0DOKD GH JUDPDJHP VXSHULRU
$
%
'((3 5('
6
0
/
;/
$ %
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
:+,7(
$/*2'®2
:+,7(
52<$/ %/8(
%/$&.
1$9<
52<$/ %/8(
'((3 5('
7 6+,576 6(1+25$
$ 48$/,'$'( 181&$ (67Ã&#x2030; )25$ '( 02'$
7 6+,57 08.8$ 6(1+25$
0. : 7 VKLUW GH VHQKRUD HP PDOKD MHUVH\ VXSHU PDFLD &RVWXUDV ODWHUDLV H FRUWH HOHJDQWH *ROD ILQD H PRGHUQD 7DSD FRVWXUDV GH RPEUR D RPEUR
3(5)(,7$
6
0
/
;/
$ % 7$0$1+26 &0
:+,7(
$/*2'®2
WDPDQKRV SRGHP YDULDU
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
:+,7(
:+,7(
7 6+,57 08.8$ 6(1+25$
0. & 7 VKLUW GH VHQKRUD HP PDOKD MHUVH\ VXSHU PDFLD &RUWH DMXVWDGR *ROD ILQD H PRGHUQD 7DSD FRVWXUDV GH RPEUR D RPEUR
08.8$ 72*(7+(5
0. 0. 0. 3iJ
6
3iJ
0
/
;/
$ %
52<$/ %/8(
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
GS '(6,*1(' 32578*$/ ,1
*2/'
25$1*(
5('
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
)8&+6,$
/,0(
%5,*+7 *5((1
$72//
08.8$ 72*(7+(5
$/*2'®2
52<$/ %/8(
1$9<
%/$&.
%5,*+7 *5((1
7 6+,57 % & :20(1 21/<
7: : 7 VKLUW GH VHQKRUD HP PDOKD MHUVH\ &RUWH DMXVWDGR *ROD ILQD H PRGHUQD
78 7: 3iJ
;6
:+,7(
6
0
/
;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
$/*2'®2
:+,7(
:+,7(
7 6+,57 % & :20(1 21/<
7: & 7 VKLUW GH VHQKRUD HP PDOKD MHUVH\ &RUWH HOHJDQWH H DMXVWDGR *ROD ILQD H PRGHUQD 7: 78 3iJ
7.
3iJ
;6
6
0
/
;/
$72//
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
$OJRGmR 3ROLHVWHU
3,67$&+,2
5($/ *5((1
%277/( *5((1
86(' <(//2:
3853/(
3803.,1 25$1*(
520$17,& 3,1.
86(' 5$63%(55<
)8&+6,$
'((3 5('
5('
,1',*2
86(' 9,2/(7
1$9<
52<$/ %/8(
$72//
',9$ %/8(
$/*2'®2
63257 *5(<
%/$&.
5($/ 785482,6( 785482,6(
$72//
7 6+,57 % & (;$&7 :20(1
7: : 7: & 7 VKLUW VHQKRUD GH PDQJD FXUWD HP PDOKD MHUVH\ &RUWH DMXVWDGR FRP FRVWXUDV ODWHUDLV 'XSOR ULE FRP SHVSRQWR D DJXOKDV 0DOKD GH JUDPDJHP VXSHULRU
78 7: 3iJ
7.
3iJ
3853/(
6
$ %
0
/
;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
:+,7(
$/*2'®2
$/*2'®2 32/,(67(5
:+,7(
63257 *5(<
%/$&.
1$9<
52<$/ %/8(
3853/(
$72//
3853/(
)8&+6,$
625%(7
5('
25$1*(
7 6+,57 08.8$ $1*(/
0. : 0. & 7 VKLUW GH FDYDV GH VHQKRUD &RUWH DMXVWDGR FRP FRVWXUDV ODWHUDLV 0DOKD MHUVH\ &RVWDV WLSR UDFHUEDFN
&267$6 )(0,1,1$6
6
0
/
;/
$ %
5('
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
:+,7(
GS '(6,*1(' 32578*$/ ,1
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
$/*2'®2
(;&(/(17(
:+,7(
%5,*+7 *5((1
$72//
1$9<
25$1*(
5('
)8&+6,$
%/$&.
5('
7 6+,57 % & 3$77, &/$66,& :20(1
7: 7 VKLUW IHPLQLQD HP PDOKD MHUVH\ &RUWH PpGLR FRP FRVWXUDV ODWHUDLV &RVWDV WLSR UDFHUEDFN
;6
6
0
/
$ % 52<$/ %/8(
$/*2'®2
:+,7(
%/$&.
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
52<$/ %/8(
)8&+6,$
52<$/ %/8(
5('
7 6+,57 % & %/21',(
7: 7 6KLUW VHQKRUD HP PDOKD MHUVH\ &RUWH PpGLR FRP FRVWXUDV ODWHUDLV 'HFRWH HP 9
70 7: 3iJ
;6
6
0
)8&+6,$
/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
Ã&#x201C;x
52<$/ %/8(
)8&+6,$
£ä
5('
$/*2'®2
%/$&.
:+,7(
)8&+6,$
7 6+,57 % & 3,1. &/$66,& :20(1
7: 7 VKLUW VHQKRUD PDQJD FRPSULGD HP PDOKD MHUVH\ &RUWH PpGLR FRP FRVWXUDV ODWHUDLV 70 7: 3iJ
;6
52<$/ %/8(
6
0
/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
$/*2'®2
:+,7(
%/$&.
52<$/ %/8(
1$9<
3853/(
5('
3853/(
7 6+,57 % & :20(1 21/<
7: : 7: & 7 VKLUW GH VHQKRUD PDQJD FRPSULGD HP PDOKD MHUVH\ &RUWH DMXVWDGR FRP FRVWXUDV ODWHUDLV
78 7: 3iJ
;6
6
0
/
$ % 7$0$1+26 &0
63257 *5(<
WDPDQKRV SRGHP YDULDU
$/*2'®2 32/,(67(5
:+,7(
$/*2'®2
:+,7(
'((3 5('
52<$/ %/8(
1$9<
63257 *5(<
%/$&. 63257 *5(<
$OJRGmR FRP KLVWyULDV
(UD XPD YH]
)LEUD Wr[WLO
2 DOJRGmR p XPD Ã&#x20AC;EUD PDFLD TXH FUHVFH HP WRUQR GDV VHPHQWHV GD SODQWD GR DOJRGmR e REWLGR D SDUWLU GH XP YHJHWDO FLHQWLÃ&#x20AC;FDPHQWH FRQKHFLGR FRPR *RVV\SLXP
XP ILR GH DOJRGmR
TXH TXHULD VHU XPD W VKLUW
2 WHFLGR GH DOJRGmR p FRQKHFLGR SHOD VXD IRUPD QDWXUDO YHUVDWLOLGDGH H FRQIRUWR 7HP VLGR XWLOL]DGR GHVGH RV WHPSRV SULPLWLYRV 2 WHFLGR IHLWR GH DOJRGmR p VHPSUH PXLWR FRQIRUWiYHO GXUiYHO H DSWR D UHVLVWLU D WRGRV RV WLSRV GH FOLPD 2 WHFLGR GR DOJRGmR SRVVXL DOWD FDSDFLGDGH GH DEVRUomR H WLQJLPHQWR VHP FRQWDU TXH SRGH VHU ODYDGR H SDVVDGR VHP PXLWD SUHRFXSDomR
7 6+,576 &5,$1d$
3(48(126 *(6726 )$=(0 80 )87852 6867(17É9(/
7 6+,57 )813$&. 0. : 0. & .,7 SDUD SLQWDU j PmR W VKLUWV 08.8$ ,QFOXL W VKLUW GH FULDQoD 0XNXD %UDQFD RX FRUHV
SDOHWH GH FRUHV GH WLQWD G iJXD SLQFHO (PEDODJHP SOiVWLFD FRP FDELGH ,PDJHP DSHODWLYD HP FDUWmR ([FHOHQWH DUWLJR SDUD )(67$6 (6&2/$6 H (9(1726
$/*2'®2
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
7 6+,57 08.8$ &5,$1d$
0. : 0. & 7 VKLUW GH FULDQoD GH PDQJD FXUWD HP PDOKD MHUVH\ VXSHU PDFLD 3HVSRQWR GXSOR QDV PDQJDV H EDLQKD 'XSOR ULE FRP OLFUD FRP SHVSRQWR ~QLFR H HOHJDQWH 7DSD FRVWXUDV GH RPEUR D RPEUR
08.8$ 72*(7+(5
0. 0. 0. 3iJ
3iJ
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
:+,7(
GS '(6,*1(' 32578*$/ ,1
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
7RS
$/*2'®2
:+,7( /,0(
%5,*+7 *5((1
.(//< *5((1
6.< %/8(
$72//
52<$/ %/8(
1$9<
%/$&.
*2/'
25$1*(
3,1.
5('
)8&+6,$
%5,*+7 *5((1
7 6+,57 % & (;$&7 .,'6 7. :
7. & 7 VKLUW GH FULDQoD PDQJD FXUWD HP PDOKD MHUVH\ &RUWH WXEXODU 'XSOR ULE FRP SHVSRQWR D DJXOKDV 3HVSRQWR GXSOR QDV PDQJDV H EDLQKD
7: 78 3iJ
3iJ
$ %
.(//< *5((1
d D E,K^ D
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
:+,7(
$/*2'®2
*5
:+,7(
*2/'
%/$&.
1$9< 52<$/ %/8( 6.< %/8(
&RUHV SDUD WDPDQKR
:+,7(
%/$&.
$72//
52<$/ %/8(
%85*81'<
1$9<
5('
6.< %/8(
25$1*(
5('
)8&+6,$
25$1*(
$35,&27
*2/'
*2/'
%277/( *5((1
.(//< *5((1
5($/ *5((1
7 6+,57 % & (;$&7 .,'6 7. :
7. & 7 VKLUW FULDQoD PDQJD FXUWD HP PDOKD MHUVH\ &RUWH WXEXODU 'XSOR ULE FRP SHVSRQWR D DJXOKDV 3HVSRQWR GXSOR QDV PDQJDV H EDLQKD 0DOKD GH JUDPDJHP VXSHULRU
78 7: 3iJ
3iJ
$ %
52<$/ %/8(
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
:+,7(
$/*2'®2
:+,7(
1$9<
6.< %/8( 52<$/ %/8(
,1',*2
625%(7 3,1. 6,;7,(6
5('
25$1*(
*2/'
$6+
%/$&.
625%(7
7 6+,57 % & %$6(%$// .,'6 7. & 7 VKLUW FULDQoD PDQJD FXUWD HP PDOKD MHUVH\ 0DQJDV UDJODQ HP FRQWUDVWH &RUWH DPSOR FRP FRVWXUDV ODWHUDLV 'XSOR ULE FRP HODVWDQR
78 3iJ
$ % d D E,K^ D
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
$/*2'®2
:+,7(
5('
:+,7(
1$9<
32/26
6(-$ (;,*(17( ( 86( 26 0(/+25(6 32/26 '2 081'2
7,9
32/2 % & ,'
38, : 38, & 3ROR GH PDQJD FXUWD HP PDOKD SLTXr *ROD H FDUFHOD UHIRUoDGD ERW}HV DR WRP &RVWXUDV UHIRUoDGDV GH RPEUR D RPEUR FRP ILWD LQWHULRU 3HVSRQWR GXSOR QDV PDQJDV H EDLQKD
/ Â&#x2021; 0 /+ /+ 25 2 Â&#x2021; 35 25 2 ) 5 d2 ,0 ) 5 7$ Â&#x2021; 3 7$ Â&#x2021; 3 %$7, 5 d 9 / 5 d 2 Â&#x2021; 48 Â&#x2021; 0 2 Â&#x2021; 4 $17, /+25 8$1 '$' 2) 7,'$ Â&#x2021; 3 57$ Â&#x2021; ' Â&#x2021; 5 35 Â&#x2021; 35 35 d2 Â&#x2021; d2 ,0 d2 ,0% d2 ,0 48$ $7,9 % %$7, $ 17,' 7 / Â&#x2021; , 9 9 / 0 / Â&#x2021; Â&#x2021; 0 0 /+25 /+25 /+25 2) 2) 57 57$ Â&#x2021; 35 d2 Â&#x2021; 48$ 17
/ Â&#x2021; 0
$
6
:+,7(
0
%
/
;/
;;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
:+,7(
$/*2'®2
$/*2'®2 32/,(67(5
*5
:+,7(
%/$&.
$17+5$&,7(
%52:1
&+,/, *2/'
+ *5(<
5('
:,1(
5('
25$1*( %277/( *5((1
1$9<
52<$/ %/8( /,*+7 %/8(
32/2 08.8$ 0$1*$ &857$
0. : 0. & 3ROR GH PDQJD FXUWD HP PDOKD SLTXr *ROD H FRVWXUDV GH RPEUR D RPEUR UHIRUoDGDV &DUFHOD HOHJDQWH FRP ERW}HV DR WRP 5LE QD PDQJD 3HVSRQWR GXSOR QD EDLQKD
08.8$ 72*(7+(5
0. 0. 0. 3iJ 3iJ
$
6
0
/
%
;/
;;/
/,0$
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
:+,7(
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
GS '(6,*1(' 32578*$/ ,1
7RS
:+,7(
*2/'
25$1*(
5('
%5,*+7 *5((1
6.< %/8(
$72//
52<$/ %/8(
1$9<
3853/(
3,1.
+($7+(5 *5(< %/$&.
/,0$
6$1'
*2/'
32/2 % & 6$)5$1
38 : 38 & 3ROR GH PDQJD FXUWD HP PDOKD SLTXr *ROD H FDUFHOD UHIRUoDGD ERW}HV DR WRP &RVWXUDV UHIRUoDGDV GH RPEUR D RPEUR FRP ILWD LQWHULRU 3HVSRQWR GXSOR QDV PDQJDV H EDLQKD
38 3:
3iJ
3. 3iJ
$
6
52<$/ %/8(
0
/
%
;/
;;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
:+,7(
$/*2'®2
6$1'
%85*81'<
3$&,),& *5(< + *5(<
3853/(
$72// 6.< %/8(
*5
$72//
5('
$/*2'®2 32/,(67(5
%/$&.
:+,7(
3 25$1*(
*2/'
5 785482,6( ',9$ %/8( 52<$/ %/8(
3,67$&+,2
1$9<
5($/ *5((1 .(//< *5((1
,1',*2
% *5((1
.+$.,
%52:1
32/2 08.8$ 0$1*$ &2035,'$
0. : 0$/+$ 3,48È
0. & 3yOR GH PDQJD FRPSULGD HP PDOKD SLTXr *ROD H FRVWXUDV GH RPEUR D RPEUR UHIRUoDGDV &DUFHOD HOHJDQWH FRP ERW}HV DR WRP 5LE QD PDQJD 3HVSRQWR GXSOR QD EDLQKD
0DLV TXDOLGDGH DR PHOKRU SUHoR 0DOKD 3LTXr $OWD UHVLVWrQFLD ,GHDO SDUD IDUGDPHQWR
$
6
0
/
%
;/
;;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
,1
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
*5
V WH
GS '(6,*1(' 32578*$/
ODYDJHQ
:+,7( UH T X H Q V I
7RS
:+,7(
25$1*(
5('
52<$/ %/8(
1$9<
+($7+(5 *5(<
%/$&.
1$9<
32/2 % & 6$)5$1 0$1*$ &2035,'$ 38 :
38 & 3ROR GH PDQJD FRPSULGD HP PDOKD SLTXH 5LE [ QD JROD H PDQJDV &DUFHOD FRP ERW}HV DR WRP &RVWXUDV UHIRUoDGDV GH RPEUR D RPEUR FRP ILWD LQIHULRU 3HVSRQWR GXSOR QDV PDQJDV H EDLQKD
38 3: 3iJ
%
$
5('
6
0
/
;/
;;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
:+,7(
$/*2'®2
*5
:+,7(
%277/( *5((1
%/$&.
+($7+(5 *5(<
5('
3803.,1 25$1*(
%277/( *5((1
1$9<
52<$/ %/8(
$/*2'®2 32/,(67(5
32/26
6(1+25$
$ QRVVD
FROHomR WHP WXGR R TXH SUHFLVD SDUD
ÀFDU
IHOL]
32/2 08.8$ 6(1+25$
0. : 0. & 3ROR GH VHQKRUD GH PDQJD FXUWD HP PDOKD SLTXr &RUWH FLQWDGR *ROD H FRVWXUDV UHIRUoDGDV GH RPEUR D RPEUR FRP ILWD LQWHULRU &DUFHOD FRP ERW}HV DR WRP
08.8$ 72*(7+(5
0. 0. 0.
3iJ 3iJ
0DLV TXDOLGDGH DR PHOKRU SUHoR 0DOKD 3LTXr FRP JU P $OWD UHVLVWrQFLD ,GHDO SDUD IDUGDPHQWR
$ %
6
0
/
;/
$ %
,1
:+,7(
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
*5
7RS
UHTXHQ V I
V WH
GS '(6,*1(' 32578*$/
3,1.
ODYDJHQ
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
:+,7(
*2/'
25$1*(
3,1.
5('
%5,*+7 *5((1
6.< %/8(
52<$/ %/8(
1$9<
%/$&.
25$1*(
32/2 % & 6$)5$1 385( :20(1
3: : 3: & 3ROR GH VHQKRUD GH PDQJD FXUWD HP PDOKD SLTXr 5LE [ QD JROD H PDQJDV &DUFHOD FRP ERW}HV DR WRP &RVWXUDV UHIRUoDGDV GH RPEUR D RPEUR FRP ILWD LQWHULRU 3HVSRQWR GXSOR QDV PDQJDV H EDLQKD
38 3: 3iJ
3.
3iJ
$ %
6
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
:+,7( :+,7(
*5
;/
/
$ %
52<$/ %/8(
$/*2'®2
0
,1',*2
:+,7(
%/$&.
3$&,),& *5(<
1$9<
5('
3803.,1 25$1*(
*2/'
3,1. 6,;7,(6
3853/(
52<$/ %/8(
',9$ %/8(
5($/ 785482,6(
$72//
6.< %/8(
,1',*2
5($/ *5((1
3,67$&+,2
%52:1
32/2 % & 6$)5$1 385( 0$1*$ &2035,'$
3: : 3: & 3ROR GH VHQKRUD GH PDQJD FRPSULGD HP PDOKD SLTXr 5LE [ QD JROD H PDQJDV &DUFHOD FRP ERW}HV DR WRP &RVWXUDV UHIRUoDGDV GH RPEUR D RPEUR FRP ILWD LQWHULRU
3: 38 3iJ
%
$
6
0
/
;/
$ % 7$0$1+26 &0
:+,7(
WDPDQKRV SRGHP YDULDU
*5
$/*2'®2
:+,7(
1$9<
5('
%/$&.
1$9<
2 PHOKRU GR
081'2 VmR DV
FULDQoDV
32/26 &5,$1d$
32/2 % & 6$)5$1 .,'6
3. : 3. & 3ROR GH FULDQoD GH PDQJD FXUWD HP PDOKD SLTXr 5LE [ QD JROD H PDQJDV &DUFHOD FRP ERW}HV DR WRP
38 3: 3iJ
3iJ
%
$
)8&+6,$
$ %
7$0$1+26 &0
:+,7(
WDPDQKRV SRGHP YDULDU
$/*2'®2 JU P
:+,7(
3803.,1 25$1*(
1$9<
52<$/ %/8(
6.< %/8(
5($/ *5((1
5('
)8&+6,$
3803.,1 25$1*(
*2/'
32/2 08.8$ &5,$1d$
0. : 0. & 3ROR GH FULDQoD GH PDQJD FXUWD HP PDOKD SLTXr *ROD UHIRUoDGD &DUFHOD FRP ERW}HV DR WRP 5LE QD PDQJD 3HVSRQWR GXSOR QD EDLQKD
08.8$ 72*(7+(5
0. 0. 0. 3iJ
3iJ
$
%
$ %
5('
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
*5
ODYDJHQ
,1
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
V
V WH
GS '(6,*1(' 32578*$/
:+,7( IUHTXHQ
7RS
:+,7(
*2/'
25$1*(
3,1.
5('
%5,*+7 *5((1
6.< %/8(
52<$/ %/8(
1$9<
25$1*(
$ FRPELQDomR
LGHDO
HQWUH UHILQDGDV ILEUDV H R DOJRGmR FRQIHUHP D UHVLVWrQFLD
H R FRQIRUWR
SHUIHLWR DR WHFLGR GD FDPLVD
02'(/26 25,*,1$,6 )(,726 68$ 0(','$
2),&,$/ 0.
/$=(5 0.
&21)2572 0. 2 6(8 &2/$5,1+2 6(035( ',5(,72
6,67(0$ ©67$< 67,&.ª
5(7,5( 2 92/7( &2/2&$5 2 ©67$< 67,&.ª '2 ©67$< 67,&.ª 12 &2/$5,1+2 3$5$ /$9$5 &2/$5,1+2
6,67(0$ ©67$< 67,&.ª
&2/$5,1+2 3(5)(,72 &20 2 6,67(0$ ©67$< 67,&.ª
1Ð '( *5$9$7$ &202 )$=(5
&$0,6$ 08.8$ 2),&,$/
$ 68$ &$0,6$ 3$5$ 72'$6 $6 2&$6,¯(6
0.
6,67(0$ ©67$< 67,&.ª
&DPLVD GH PDQJD FXUWD FRP DEHUWXUD QD SDOD GR EROVR SDUD FRORFDU FDQHWD ERW}HV VXSOHQWHV &RODULQKR SHUIHLWR FRP VLVWHPD ©VWD\ VWLFNª 3UHVLOKDV FRP ERWmR QRV RPEURV SDUD FRORFDU GLYLVDV
5()25d26 /$7(5$,6
,GHDO SDUD 0RWRULVWDV 3ROtFLDV 6HJXUDQoDV 0LOLWDUHV 3(1 32&.(7 35(6,/+$6 &20 %27®2 $%(5785$ (63(&,$/ 126 20%526 3$5$ 1$ 3$/$ '2 %2/62 3$5$ &2/2&$5 ',9,6$6 &2/2&$5 &$1(7$
&
%
6
0
/
;/
&2/$5,1+2 $ 3(5,0(752 3(,72 % $/785$ &
7$0$1+26 &0
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
/$9É9(/ $ &
_
_
$ FRPELQDomR LGHDO HQWUH UHÀQDGDV ÀEUDV H R DOJRGmR FRQIHUHP D UHVLVWrQFLD H R FRQIRUWR SHUIHLWR DR WHFLGR GD FDPLVD
%(*(
&$68$/ %/8(
6H YRFr p XP KRPHP TXH VH VHQWH j YRQWDGH HP TXDOTXHU VLWXDomR TXH GLWD VXDV SUySULDV UHJUDV H JRVWD GH HVWDU VHPSUH HOHJDQWH HP TXDOTXHU PRPHQWR HVWDV FDPLVDV VHUmR XPD DGLomR HVVHQFLDO DR VHX DUPiULR
:+,7(
&$0,6$ 08.8$ &21)2572
&$0,6$ '(6(192/9,'$ &20 80 &257( 0$,6 /$5*2 3$5$ 6( $-867$5 É6 68$6 0(','$6
0. &DPLVD GHVHQYROYLGD FRP XP FRUWH PDLV ODUJR SDUD VH DMXVWDU jV VXDV PHGLGDV &DVD H[WUD SDUD ERWmR GH SXQKR %ROVR VROWR SDUD DSOLFDomR ERW}HV VXSOHQWHV &RODULQKR SHUIHLWR FRP VLVWHPD ©VWD\ VWLFNª
6,67(0$ ©67$< 67,&.ª
35(*$6 1$6 &267$6
D
08. 8 RULJLQ $ D '(6,* O 1
&$6$ (;75$ 3$5$ %27®2 '( 381+2 $
&
%
6$
0$
/$
;/$
&2/$5,1+2 $ 3(5,0(752 3(,72 % $/785$ & 7$0$1+26 &0
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
_
_
$ FRPELQDomR LGHDO HQWUH UHÀQDGDV ÀEUDV H R DOJRGmR FRQIHUHP D UHVLVWrQFLD H R FRQIRUWR SHUIHLWR DR WHFLGR GD FDPLVD
/$9É9(/ $ &
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
7$0$1+26 $ 3(16$5 (0 6, 2 6(8 7$0$1+2 2 6(8 02'(/2 :+,7(
&$68$/ %/8(
0$
6$
/$
;/$
GS '(6,*1(' 32578*$/ ,1
&$0,6$ 08.8$ /$=(5
&$0,6$ '(6(192/9,'$ &20 80 &257( 0$,6 /$5*2 126 20%526 ( -8672 1$ &,1785$ 3$5$ 5($/d$5 $ 68$ 6,/+8(7$
0. $ VXD FDPLVD SHUIHLWD FRQIRUWiYHO H HOHJDQWH SDUD DPELHQWHV GH WUDEDOKR H OD]HU IRUPDO RX LQIRUPDO LQGLVSHQViYHO QR VHX JXDUGD URXSD
6,67(0$ ©67$< 67,&.ª
%2/62 62/72
&$6$ (;75$ 3$5$ %27®2 '( 381+2
$ FDPLVD p VHPSUH VLQyQLPR GH HOHJkQFLD &DPLVD GHVHQYROYLGD FRP XP FRUWH PDLV MXVWR SDUD UHDOoDU D VXD VLOKXHWD 5HIRUoRV ODWHUDLV &DVD H[WUD SDUD ERWmR GH SXQKR %ROVR VROWR SDUD DSOLFDomR ERW}HV VXSOHQWHV &RODULQKR SHUIHLWR FRP VLVWHPD ©VWD\ VWLFNª
67$< 67,&. (;75$ $
'
%
&
6%
&2/$5,1+2 $ 3(5,0(752 3(,72 % 3(5,0(752 &,1785$ & $/785$ '
0%
/%
;/%
7$0$1+26 &0
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
_
_
$ FRPELQDomR LGHDO HQWUH UHÀQDGDV ÀEUDV H R DOJRGmR FRQIHUHP D UHVLVWrQFLD H R FRQIRUWR SHUIHLWR DR WHFLGR GD FDPLVD
/$9É9(/ $ &
7$0$1+26 $ 3(16$5 (0 6, 2 6(8 7$0$1+2 2 6(8 02'(/2 &$68$/ %/8(
GS '(6,*1(' 32578*$/
6%
0%
/%
;/%
,1
:+,7(
&$0,6$ % & 2;)25' 0$1*$ &2035,'$
602 &DPLVD GH PDQJD FRPSULGD GH KRPHP HP WHFLGR 2[IRUG $OWD TXDOLGDGH FRP DFDEDPHQWR (DV\ &DUH %RW}HV DR WRP HIHLWR PDGUHSpUROD H[FHWR 2[IRUG %OXH 3XQKR DMXVWiYHO FRP ERW}HV %ROVR QR SHLWR HVTXHUGR 3UHVLOKD SDUD À[DU JUDYDWD %RW}HV QR FRODULQKR ERW}HV H[WUD
6
$ %
0
/
;/
;;/
d D E,K^ D
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
32/,(67(5 $/*2'®2
:+,7(
*5
%/$&.
£
2;)25' %/8(
£ä
6,/9(5 0221
/$9É9(/ $ &
%/8( &+,3
&$0,6$ % & 2;)25' 6(1+25$
6:2 &DPLVD GH PDQJD FRPSULGD GH VHQKRUD HP WHFLGR 2[IRUG $OWD TXDOLGDGH FRP DFDEDPHQWR (DV\ &DUH %RW}HV DR WRP HIHLWR PDGUHSpUROD H[FHWR 2[IRUG %OXH 3XQKR DMXVWiYHO FRP ERW}HV &RODULQKR PDFLR H IHPLQLQR 3LQoDV QR SHLWR H FRVWDV F FRUWH IHPLQLQR ERWmR H[WUD
6
$ %
0
/
;/
;;/
d D E,K^ D
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
32/,(67(5 $/*2'®2
:+,7(
*5
%/$&.
£
2;)25' %/8(
£ä
6,/9(5 0221
/$9É9(/ $ &
%/8( &+,3
&$0,6$ % & 2;)25' 0$1*$ &857$
602
0
6
$ %
/
;/
2;)25' %/8(
;;/
d D E,K^ D
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
6 6 ÊÈä¨
6,/9(5 0221
*5
&DPLVD GH PDQJD FXUWD GH KRPHP HP WHFLGR 2[IRUG $OWD TXDOLGDGH FRP DFDEDPHQWR (DV\ &DUH %RW}HV DR WRP HIHLWR PDGUHSpUROD H[FHWR 2[IRUG %OXH 3XQKR DMXVWiYHO FRP ERW}HV %ROVR QR SHLWR HVTXHUGR 3UHVLOKD SDUD À[DU JUDYDWD %RW}HV QR FRODULQKR ERW}HV H[WUD
32/,(67(5 $/*2'®2
%/8( 2;)25' :+,7( %/$&. &+,3 %/8(
&$0,6$ % & 2;)25' 6(1+25$
6:2
$ %
6 0 ;/ ;;/ /
2;)25' %/8(
d D E,K^ D
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
6 6 ÊÈä¨
6,/9(5 0221
*5
32/,(67(5 $/*2'®2
%/8( 2;)25' :+,7( %/$&. &+,3 %/8(
&DPLVD GH PDQJD FXUWD GH VHQKRUD HP WHFLGR 2[IRUG $OWD TXDOLGDGH FRP DFDEDPHQWR (DV\ &DUH %RW}HV DR WRP HIHLWR PDGUHSpUROD H[FHWR 2[IRUG %OXH 3XQKR DMXVWiYHO FRP ERW}HV &RODULQKR PDFLR H IHPLQLQR 3LQoDV QR SHLWR H FRVWDV F FRUWH IHPLQLQR ERWmR H[WUD
&$0,6$ % & +(5,7$*( 0$1*$ &2035,'$
603 &DPLVD GH PDQJD FRPSULGD GH KRPHP HP WHFLGR SRSHOLQH $OJRGmR SXUR H PDFLR FRP DFDEDPHQWR (DV\ &DUH %RW}HV DR WRP HIHLWR PDGUHSpUROD %ROVR QR SHLWR HVTXHUGR 3UHVLOKD SDUD À[DU JUDYDWD 3XQKR FRP RSo}HV GH DSHUWR ERW}HV H[WUD
6
%/8( &+,3
$ %
0
/
;/
;;/
d D E,K^ D
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
$/*2'®2
:+,7(
*5
%/$&.
'((3 5('
/$9É9(/ $ &
%/8( &+,3
&$0,6$ % & +(5,7$*( 6(1+25$
6:3 &DPLVD GH PDQJD FRPSULGD GH VHQKRUD HP WHFLGR SRSHOLQH $OJRGmR SXUR H PDFLR FRP DFDEDPHQWR (DV\ &DUH %RW}HV DR WRP HIHLWR PDGUHSpUROD &RODULQKR PDFLR H IHPLQLQR 3LQoDV QR SHLWR H FRVWDV F FRUWH IHPLQLQR 3XQKR FRP ERWmR GXSOR ERWmR H[WUD
%/8( &+,3
-
$ %
8
88
d D E,K^ D
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
$/*2'®2
:+,7(
*5
%/$&.
'((3 5('
/$9É9(/ $ &
%/8( &+,3
&$0,6$ % & +(5,7$*( 0$1*$ &857$
603
0
6
/
;/
&DPLVD GH PDQJD FXUWD GH KRPHP HP WHFLGR SRSHOLQH $OJRGmR SXUR H PDFLR FRP DFDEDPHQWR (DV\ &DUH 0DQJDV FRP EDLQKD GREUDGD %RW}HV DR WRP HIHLWR PDGUHSpUROD %ROVR QR SHLWR HVTXHUGR 3UHVLOKD SDUD À[DU JUDYDWD ERWmR H[WUD
;;/
$ %
d D E,K^ D
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
/$9É9(/ $ &
'((3 5('
*5
%/8( &+,3
$/*2'®2
:+,7(
%/$&.
&$0,6$ % & +(5,7$*( 6(1+25$
6:3
$ %
&DPLVD GH PDQJD FXUWD GH VHQKRUD HP WHFLGR SRSHOLQH $OJRGmR SXUR H PDFLR FRP DFDEDPHQWR (DV\ &DUH 0DQJDV FRP EDLQKD GREUDGD %RW}HV DR WRP HIHLWR PDGUHSpUROD &RODULQKR PDFLR H IHPLQLQR 3LQoDV QR SHLWR H FRVWDV & FRUWH IHPLQLQR ERWmR H[WUD
6 0 ;/ ;;/ /
d D E,K^ D
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
/$9É9(/ $ &
'((3 5('
*5
%/8( &+,3
$/*2'®2
:+,7(
%/$&.
&$0,6$ % & 60$57 0$1*$ &2035,'$
603 &DPLVD GH PDQJD FRPSULGD GH KRPHP HP WHFLGR SRSHOLQH 3ROLpVWHU DOJRGmR FRP DFDEDPHQWR (DV\ &DUH 7HFLGR PLVWR SHUPLWH PDLRU FRQIRUWR H GXUDELOLGDGH 3XQKR DMXVWiYHO FRP ERW}HV %RW}HV DR WRP HIHLWR PDGUHSpUROD %ROVR QR SHLWR HVTXHUGR ERW}HV H[WUD
'((3 5('
6
$ %
0
/
;/
;;/
d D E,K^ D
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
32/,(67(5 $/*2'®2
:+,7(
*5
%/$&. %86,1(66 1$9< %/8(
/$9É9(/ $ &
'((3 5('
&$0,6$ % & 60$57 6(1+25$
6:3 &DPLVD GH PDQJD FRPSULGD GH VHQKRUD HP WHFLGR SRSHOLQH 3ROLpVWHU DOJRGmR FRP DFDEDPHQWR (DV\ &DUH 7HFLGR PLVWR SHUPLWH PDLRU FRQIRUWR H GXUDELOLGDGH 3XQKR DMXVWiYHO FRP ERW}HV %RW}HV DR WRP HIHLWR PDGUHSpUROD &RODULQKR PDFLR H IHPLQLQR 3LQoDV QR SHLWR H FRVWDV & FRUWH IHPLQLQR
'((3 5('
6
$ %
0
/
;;/
;/
d D E,K^ D
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
32/,(67(5 $/*2'®2
:+,7(
*5
%/$&. %86,1(66 1$9< %/8(
'((3 5('
/$9É9(/ $ &
&$0,6$ % & 60$57 0$1*$ &857$
603
6
$ %
0
/
;/
&DPLVD GH PDQJD FXUWD GH KRPHP HP SRSHOLQH 3ROLpVWHU DOJRGmR FRP DFDEDPHQWR (DV\ &DUH 7HFLGR PLVWR SHUPLWH PDLRU FRQIRUWR H GXUDELOLGDGH %RW}HV DR WRP HIHLWR PDGUHSpUROD %ROVR QR SHLWR HVTXHUGR ERW}HV H[WUD
;;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
/$9É9(/ $ &
'((3 5('
1$9<
%86,1(66 %/8(
*5
32/,(67(5 $/*2'®2
%/$&.
:+,7(
&$0,6$ % & 60$57 6(1+25$
6:3
$ %
&DPLVD GH PDQJD FXUWD GH VHQKRUD HP SRSHOLQH 3ROLpVWHU DOJRGmR FRP DFDEDPHQWR (DV\ &DUH 7HFLGR PLVWR SHUPLWH PDLRU FRQIRUWR H GXUDELOLGDGH %RW}HV DR WRP HIHLWR PDGUHSpUROD &RODULQKR PDFLR H IHPLQLQR 3LQoDV QR SHLWR H FRVWDV & FRUWH IHPLQLQR
6 0 ;/ ;;/ / 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
/$9É9(/ $ &
%86,1(66 %/8(
1$9<
*5
'((3 5('
32/,(67(5 $/*2'®2
%/$&.
:+,7(
&$0,6$ % & %/$&. 7,( 0$1*$ &2035,'$
603 &DPLVD GH PDQJD FRPSULGD GH KRPHP HP SRSHOLQH VWUHWFK %RW}HV DR WRP HIHLWR PDGUHSpUROD 3LQoDV QDV FRVWDV H FRUWH FRQWHPSRUkQHR &RODULQKR DSHUWD FRP ERWmR GXSOR ERW}HV H[WUDV
7(&,'2 (/È67,&2
$
6
$ %
0
%
/
;/
;;/
7$0$1+26 &0
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
(/$67$12 $/*2'®2 *5
:+,7(
%/$&.
/$9É9(/ $ &
&2))(( /8;85,286 %($1 5('
&$0,6$ % & %/$&. 7,( 6(1+25$
6:3 &DPLVD GH PDQJD FRPSULGD GH VHQKRUD HP SRSHOLQH VWUHWFK %RW}HV DR WRP HIHLWR PDGUHSpUROD &RODULQKR PDFLR H IHPLQLQR 3LQoDV QR SHLWR H FRVWDV & FRUWH IHPLQLQR ERWmR H[WUD
7(&,'2 (/È67,&2
$
6
$ %
0
%
/
;/
;;/
7$0$1+26 &0
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
(/$67$12 $/*2'®2 *5
:+,7(
%/$&.
&2))(( /8;85,286 %($1 5('
/$9É9(/ $ &
&$0,6$ % & %/$&. 7,( 0$1*$ &857$
603 &DPLVD GH PDQJD FXUWD GH KRPHP HP SRSHOLQH VWUHWFK 0DQJD FRP EDLQKD GREUDGD %RW}HV DR WRP HIHLWR PDGUHSpUROD 3LQoDV QDV FRVWDV H FRUWH FRQWHPSRUkQHR ERWmR H[WUD
7(&,'2 (/È67,&2
&2))(( %($1 $
6
0
%
/
;/
;;/
$ %
d D E,K^ D
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ /$9É9(/ $ &
:+,7(
%/$&.
*5
(/$67$12 $/*2'®2
&2))(( /8;85,286 %($1 5('
&$0,6$ % & %/$&. 7,( 6(1+25$
6:3 7(&,'2 (/È67,&2
$
6
$ %
&DPLVD GH PDQJD FXUWD GH VHQKRUD HP SRSHOLQH VWUHWFK 0DQJD FRP EDLQKD GREUDGD %RW}HV DR WRP HIHLWR PDGUHSpUROD &RODULQKR PDFLR H IHPLQLQR 3LQoDV QR SHLWR H FRVWDV & FRUWH IHPLQLQR ERWmR H[WUD
&2))(( %($1
%
0 ;/ ;;/ / 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
/$9É9(/ $ &
:+,7(
%/$&.
*5
(/$67$12 $/*2'®2
&2))(( /8;85,286 %($1 5('
&$0,6$ % & 6+$53 0$1*$ &2035,'$
607 &DPLVD GH PDQJD FRPSULGD GH KRPHP HP VDUMD 7HFLGR PDFLR H DYHOXGDGR FRP DFDEDPHQWR (DV\ &DUH 3XQKR DMXVWiYHO FRP ERW}HV %RW}HV DR WRP HIHLWR PDGUHSpUROD %ROVR QR SHLWR HVTXHUGR 3UHVLOKD SDUD À[DU JUDYDWD ERW}HV H[WUD
1$9< $
6
$ %
0
%
/
;/
;;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
$/*2'®2
:+,7(
*5
%/$&.
'$5. *5(<
/$9É9(/ $ &
'((3 5('
1$9<
&$0,6$ % & 6+$53 6(1+25$
6:7 &DPLVD GH PDQJD FRPSULGD GH VHQKRUD HP VDUMD 7HFLGR PDFLR H DYHOXGDGR FRP DFDEDPHQWR (DV\ &DUH 3XQKR DMXVWiYHO FRP ERW}HV %RW}HV DR WRP HIHLWR PDGUHSpUROD &RODULQKR PDFLR H IHPLQLQR ERWmR H[WUD 3LQoDV QR SHLWR H FRVWDV & FRUWH IHPLQLQR
1$9< $
6
$ %
0
%
/
;/
;;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
$/*2'®2
:+,7(
*5
%/$&.
'$5. *5(<
'((3 5('
1$9<
/$9É9(/ $ &
&$0,6$ % & 6+$53 0$1*$ &857$
607
$
&DPLVD GH PDQJD FXUWD GH KRPHP HP VDUMD 7HFLGR PDFLR H DYHOXGDGR FRP DFDEDPHQWR (DV\ &DUH 0DQJDV FRP EDLQKD GREUDGD ERWmR H[WUD %RW}HV DR WRP HIHLWR PDGUHSpUROD %ROVR QR SHLWR HVTXHUGR 3UHVLOKD SDUD À[DU JUDYDWD
%
0 6 ;/ ;;/ /
$ %
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
/$9É9(/ $ &
1$9<
'((3 5('
'$5. *5(<
*5 $/*2'®2
%/$&.
:+,7(
&$0,6$ % & 6+$53 6(1+25$
6:7
$
6
$ %
0
&DPLVD GH PDQJD FXUWD GH VHQKRUD HP VDUMD 7HFLGR PDFLR H DYHOXGDGR FRP DFDEDPHQWR (DV\ &DUH 0DQJDV FRP EDLQKD GREUDGD ERWmR H[WUD %RW}HV DR WRP HIHLWR PDGUHSpUROD &RODULQKR PDFLR H IHPLQLQR 3LQoDV QR SHLWR H FRVWDV & FRUWH IHPLQLQR
%
/
;/
;;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
/$9É9(/ $ &
1$9<
'((3 5('
'$5. *5(<
*5 $/*2'®2
%/$&.
:+,7(
32/,(67(5 $/*2'®2
32/,(67(5 $/*2'®2
$/*2'®2
&$0,6$ % & 2;)25'
&$0,6$ % & +(5,7$*(
_ (6&2/+$ 2 7(&,'2 ,'($/ _
$/*2'®2
32/,(67(5 $/*2'®2
(/$67$12 $/*2'®2
32/,(67(5 $/*2'®2
&$0,6$ % & 60$57
(/$67$12 $/*2'®2
_ (6&2/+$ 2 7(&,'2 ,'($/ _
$/*2'®2
&$0,6$ % & %/$&. 7,(
&$0,6$ % & 6+$53
&$0,6$ 6(7$6 0$1*$ &857$
6:
E\
&DPLVD GH KRPHP GH PDQJD FXUWD HP SRSHOLQH %ROVR QR SHLWR HVTXHUGR 7HFLGR OHYH H UHVLVWHQWH
E\ $
$ %
%
0 6 ;/ / 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
*5
32/,(67(5 $/*2'®2
%/$&.
:+,7(
&$0,6$ 6(7$6 6(1+25$ 0$1*$ &857$
6: E\
&DPLVD GH VHQKRUD GH PDQJD FXUWD HP SRSHOLQH %ROVR QR SHLWR HVTXHUGR 7HFLGR OHYH H UHVLVWHQWH $
$ %
6
0
%
/
;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
*5
32/,(67(5 $/*2'®2
%/$&.
:+,7(
&$0,6$ 6(7$6 0$1*$ &2035,'$
6:
E\
&DPLVD GH KRPHP GH PDQJD FRPSULGD HP SRSHOLQH %ROVR QR SHLWR HVTXHUGR 7HFLGR OHYH H UHVLVWHQWH
E\
$
%
0
6
;/
/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
32/,(67(5 $/*2'®2
:+,7(
*5
%/$&.
&$0,6$ 6(7$6 6(1+25$ 0$1*$ &2035,'$
6:
E\
&DPLVD GH VHQKRUD GH PDQJD FRPSULGD HP SRSHOLQH %ROVR QR SHLWR HVTXHUGR 7HFLGR OHYH H UHVLVWHQWH
%/$&. %
$
-
$ %
8
d D E,K^ D
; ΎƚĂŵĂŶŚŽƐ ƉŽĚĞŵ ǀĂƌŝĂƌ нͬͲ ϱй Ϳ
32/,(67(5 $/*2'®2 *5
:+,7(
%/$&.
6:($76 6,17$ $ ',)(5(1d$
6:($76 08.8$
3DUWLOKDPRV FRQVLJR D SDL[mR SHOD TXDOLGDGH $OHJUH VH FRP R TXH YHVWH 4XDOLGDGH H HVWLOR j VXD YROWD 6ZHDWV TXH GmR VKRZ
&25'¯(6 25,*,1$,6 3(5621$/,=É9(,6
6(&5(7 32&.(7
381+26 %8e '( &22/
&25'¯(6 25,*,1$,6 3(5621$/,=É9(,6
%2/62 +, 7(&+
381+26 %8e '( &22/
6(&5(7 32&.(7
6:($76+,57 08.8$
0. 6ZHDWVKLUW 8QLVH[R FRP FDSX] ,QWHULRU FDUGDGR %ROVR FDQJXUX FRP FRVWXUDV UHIRUoDGDV %ROVR +L 7HFK &RUGmR DMXVWiYHO FRP SRVVLELOLGDGH GH SHUVRQDOL]DomR 3XQKR VSRUW ©EXp GH FRROª
08.8$ )(/,=
$
6
0
%
/
;/
52<$/ %/8(
;;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
;;/ ',6321,9(/ 1$6 &25(6 %/$&. + *5(< 1$9<
$72//
52<$/ %/8(
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
GS '(6,*1(' 32578*$/ ,1
1$9<
%5,*+7 *5((1
25$1*(
5('
)8&+6,$
32/,(67(5 $/*2'®2
+($7+(5 *5(<
$%(5785$ 3$5$ ),2 '( $86&8/7$'25(6
%/$&.
:+,7(
6:($76+,57 % & ,'
:8, : :8, & 6ZHDWVKLUW XQLVH[R &RUWH WXEXODU 5,% [ FRP HODVWDQR
$
%
:+,7( 6
0
/
;/
;;/
$ % 7$0$1+26 &0
:+,7(
WDPDQKRV SRGHP YDULDU
32/,(67(5 $/*2'®2
:+,7(
JU P
%/$&.
+($7+(5 *5(<
1$9<
/,*+7 %/8(
5('
25$1*(
52<$/ %/8(
/,*+7 %/8(
)25(67 *5((1
0(/+25 2)(57$ 6:($7
6:($76+,57 % & 6(7 ,1 :8 :
:8 & 6ZHDWVKLUW XQLVH[R 7HFQRORJLD 367 3HUIHFW 6ZHDW 7HFKQRORJ\ ([WUD VXDYH H H[FHOHQWH SDUD VHULJUDILD
:. 3iJ
48&"5
$
6
0
%
/
52<$/
;;/
;/
$ % 7$0$1+26 &0
:+,7(
WDPDQKRV SRGHP YDULDU
Ê
%277/( *5((1
52<$/ %/8(
1$9<
6$1'
*2/'
Ê
3803.,1 25$1*(
*5
32/,(67(5 $/*2'®2
5('
+($7+(5 *5(<
67((/ *5(<
%/$&.
:+,7(
%277/( *5((1
6:($76+,57 % & ,'
:8, 6ZHDWVKLUW XQLVH[R FRP FDSX] GXSOR %ROVR FDQJXUX ,QWHULRU FDUGDGR &RUWH WXEXODU 5LE [ FRP HODVWDQR
%
$
:+,7(
6
0
/
;/
;;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
:+,7(
32/,(67(5 $/*2'®2
:+,7(
)8&+6,$
%52:1
%/$&.
)8&+6,$
+($7+(5 *5(<
3853/(
JU P
1$9<
$72//
Ã&#x201C;ä
x
5('
25$1*(
.(//< *5((1 $17+5$&,7(
52<$/ %/8(
&+,/, *2/'
/,*+7 %/8(
)25(67 *5((1
0(/+25 2)(57$ 6:($7
6:($76+,57 % & +22'(' :8 6ZHDWVKLUW XQLVH[R FRP FDSX] GXSOR ,QWHULRU FDUGDGR %ROVR FDQJXUX FRP FRVWXUDV UHIRUoDGDV 7HFQRORJLD 367 3HUIHFW 6ZHDW 7HFKQRORJ\ ([WUD VXDYH H H[FHOHQWH SDUD VHULJUDILD
:. 3iJ
48&"5
$
%
.+$.,
6
0
/
;/
$ % 7$0$1+26 &0
:+,7(
WDPDQKRV SRGHP YDULDU
5($/ *5((1
.+$.,
%52:1
625%(7
Ê 86(' *2/'
3853/(
Ê 3803.,1 25$1*(
5('
Ê
Ê
6.< %/8(
*5
+($7+(5 *5(<
67((/ *5(<
9(5< ',9$ %/8( 785482,6(
52<$/ %/8(
32/,(67(5 $/*2'®2
%/$&.
:+,7(
,1',*2
1$9<
+($7+(5 *5(<
6:($76+,57 % & ,'
:8, 6ZHDWVKLUW XQLVH[R GH IHFKR 3XQKRV JROD H EDLQKD HP ULE [ FRP HODVWDQR 0DQJDV VHW LQ &RUWH WXEXODU
0(/+25 2)(57$ 6:($7
%
$
6
0
/
;/
;;/
$ % :+,7(
:+,7(
32/,(67(5 $/*2'®2
:+,7(
JU P
%/$&.
+($7+(5 *5(<
1$9<
+($7+(5 *5(<
5('
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
6:($76+,57 % & +22'(' )8// =,3 :0 6ZHDWVKLUW GH KRPHP FRP FDSX] GXSOR )HFKR FRPSOHWR DR WRP ,QWHULRU FDUGDGR EROVRV FDQJXUX FRP FRVWXUDV UHIRUoDGDV 7HFQRORJLD 367 3HUIHFW 6ZHDW 7HFKQRORJ\
:0 ::
3iJ
48&"5 :. 3iJ
%
$
6
0
/
5('
;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
5('
*5
32/,(67(5 $/*2'®2
Ê 52<$/ %/8(
Ê 1$9<
5('
+($7+(5 *5(<
%/$&.
52<$/
6:($76+,57 % & +22'(' )8// =,3 :20(1
:: 6ZHDWVKLUW GH VHQKRUD FRP FDSX] )HFKR FRPSOHWR DR WRP EROVRV FDQJXUX FRP FRVWXUDV UHIRUoDGDV ,QWHULRU HP )UHQFK 7HUU\ 8QEUXVKHG QmR FDUGDGR 7HFQRORJLD 367 3HUIHFW 6ZHDW 7HFKQRORJ\
:0 :: 3iJ
:. 3iJ
$
6
5(' :+,7(
0
%
/
;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
32/,(67(5 $/*2'®2
JU P
:+,7(
%/$&.
+($7+(5 *5(<
52<$/ %/8(
52<$/
5('
6:($76+,57 % & 6(7 ,1 .,'6
:. : :. & 6ZHDWVKLUW GH FULDQoD GH DOWD TXDOLGDGH 5LE SXQKRV H FyV FRP HODVWDQR 7HFQRORJLD 367 3HUIHFW 6ZHDW 7HFKQRORJ\ ,QWHULRU FDUGDGR ([WUD VXDYH H H[FHOHQWH SDUD VHULJUDILD
:8
3iJ
0(/+25 2)(57$ 6:($7
$
$ %
%
52<$/ %/8(
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
:+,7(
JU P
32/,(67(5 $/*2'®2
:+,7(
1$9<
5('
52<$/ %/8(
+($7+(5 *5(<
%/$&.
1$9<
6:($76+,57 % & +22'(' .,'6 :. 6ZHDWVKLUW GH FULDQoD FRP FDSX] GXSOR %ROVR FDQJXUX FRP FRVWXUDV UHIRUoDGDV 7HFQRORJLD 367 3HUIHFW 6ZHDW 7HFKQRORJ\ ,QWHULRU FDUGDGR ([WUD VXDYH H H[FHOHQWH SDUD VHULJUDILD
:8
3iJ
48&"5
%
$
,1',*2
$ %
7$0$1+26 &0
:+,7(
WDPDQKRV SRGHP YDULDU
32/,(67(5 $/*2'®2
:+,7(
*5
%/$&.
5('
625%(7
9(5< 785482,6(
3803.,1 25$1*(
,1',*2
1$9<
9(5< 785482,6(
52<$/ %/8(
5($/ *5((1
6:($76+,57 % & +22'(' )8// =,3 .,'6
:. 6ZHDWVKLUW GH FULDQoD FRP FDSX] GXSOR )HFKR FRPSOHWR DR WRP ,QWHULRU FDUGDGR EROVRV FDQJXUX FRP FRVWXUDV UHIRUoDGDV 7HFQRORJLD 367 3HUIHFW 6ZHDW 7HFKQRORJ\
:0 ::
3iJ
3iJ
%
$
$ %
.(//< *5((1
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
JU P
32/,(67(5 $/*2'®2
.(//< *5((1
5('
52<$/ %/8(
1$9<
%/$&.
32/$5 % & ,'
)8, 2 PHOKRU SRODU XQLVH[R GH IHFKR LQWHLUR DR WRP 7DSD FRVWXUDV 7UDWDPHQWR DQWL ERUERWR EROVRV ODWHUDLV FRP IHFKR (VVHQFLDO SDUD XP HVWLOR FRQWHPSRUkQHR
$
%
5('
6
0
/
;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
:+,7(
7RS 32/,(67(5
JU P
129,'$'(
:+,7(
%/$&.
'$5. *5(<
1$9<
'$5. *5(<
52<$/ %/8(
5('
32/$5 6(7$6 021&$<2 0(,2 )(&+2
63 E\
$
6
0
3RODU GH PHLR IHFKR DR WRP 7UDWDPHQWR DQWL ERUERWR
%
/
;/
;;/
$ %
52<$/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
5('
'$5. 1$9<
*5
52<$/
32/,(67(5
%/$&.
32/$5 6(7$6 $,7$1$ )(&+2 ,17(,52
63 3RODU XQLVH[R IHFKR FRPSOHWR 5HVLVWHQWH DR ERUERWR )HFKRV GD PHVPD FRU
E\
%2/626 &20 )(&+2
&26785$6 126 20%526 &20 32172 '83/2
$
%
%/$&.
6
$ %
0
/
;/
;;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
32/,(67(5
%/$&.
JU
3853/(
5('
5($/ *5((1 '$5. 1$9<
52<$/
32/$5 6(7$6 )(&+2 ,17(,52
63 E\
3RODU XQLVH[R GH IHFKR LQWHLUR DR WRP 7UDWDPHQWR DQWL ERUERWR 3XQKRV HOiVWLFRV EROVRV ODWHUDLV FRP IHFKR &LQWXUD FRP FRUGmR HOiVWLFR DMXVWiYHO
%2/626 &20 3$/$ ( )(&+2
38;$'25(6 126 )(&+26
$
;6
$ %
6
%
0
7$0$1+26 &0
/
;/
3853/(
WDPDQKRV SRGHP YDULDU
5('
3853/(
$72//
52<$/ %/8(
'$5. 1$9<
:+,7(
JU
'$5. *5(<
32/,(67(5
%/$&.
32/$5 % & ,' :20(1
):, 3RODU GH IHFKR LQWHLUR DR WRP 7DSD FRVWXUDV 7UDWDPHQWR DQWL ERUERWR EROVRV ODWHUDLV FRP IHFKR (VVHQFLDO SDUD XP HVWLOR FRQWHPSRUkQHR &RUWH IHPLQLQR
$
%
5('
6
0
/
;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
:+,7(
7RS 32/,(67(5
JU P
129,'$'(
:+,7(
%/$&.
'$5. *5(<
1$9<
)25(67 *5((1
52<$/ %/8(
)25(67 *5((1
5('
32/$5 6(7$6 )(&+2 ,17(,52 6(1+25$
63 E\
3RODU VHQKRUD GH IHFKR LQWHLUR DR WRP 7UDWDPHQWR DQWL ERUERWR 0DQJDV UDJODQ EROVRV ODWHUDLV
%2/626 &20 3$/$ ( )(&+2
38;$'25(6 126 )(&+26
$
6
0
%
/
;/
5('
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
*5
3853/(
32/,(67(5
5('
1$9<
%/$&.
32/$5 6(7$6 $,7$1$ )(&+2 ,17(,52 .,'6
63 E\
3RODU GH FULDQoD GH IHFKR LQWHLUR DR WRP 5HVLVWHQWH DR ERUERWR EROVRV ODWHUDLV FRP IHFKR
*2/$ &20 3527(725 '2 )(&+2
$
52<$/
$ %
%
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
32/,(67(5
%/$&.
JU
5('
5($/ *5((1
'$5. 1$9<
52<$/
383/(
32/$5 6(7$6 )(&+2 ,17(,52 .,'6
63 E\
3RODU FULDQoD GH IHFKR LQWHLUR DR WRP 7UDWDPHQWR DQWL ERUERWR EROVRV ODWHUDLV
%2/626 &20 3$/$ ( )(&+2
38;$'25(6 126 )(&+26
%
$
$ %
5('
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
3853/(
*5
5('
32/,(67(5
$72//
52<$/
1$9<
([FHOHQWH
TXDOLGDGH H
DFDEDPHQWRV ([SORUH D QRVVD FROHomR &RQIRUWR FRP HVWLOR 5HVLVWrQFLD DR IULR
%/86¯(6 3$5.$6
&21)2572 ( )81&,21$/,'$'(
&257$ 9(172 % & 6,52&&2
-8 -8 < &RUWD YHQWR LPSHUPHiYHO &DSX] LQFRUSRUDGR QD JROD EROVR ODWHUDO 7UDQVIRUPD VH HP EROVD VLVWHPD . :D\
-8 -:
&$38= 12 ,17(5,25 '$ *2/$
-.
75$16)250$ 6( (0 %2/6$
&257$ 9(172 ,03(50(Ã&#x2030;9(/
%
$
5(6,67(17( Â &+89$ $72//
6
0
$ %
/
;/
;;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
1</21
8/75$ <(//2:
:+,7(
%/$&.
1$9<
8/75$ <(//2:
-8 <
52<$/
$72//
5($/ *5((1
%27/( *5((1
5('
25$1*(
*2/'
&257$ 9(172 % & $,5 -8 &RUWD YHQWR LPSHUPHiYHO &DSX] LQFRUSRUDGR QD JROD )RUUR HP UHGH GH SROLpVWHU EROVRV ODWHUDLV 7UDQVIRUPD VH HP EROVD VLVWHPD . :D\
&$38= 12 ,17(5,25 '$ *2/$
75$16)250$ 6( (0 %2/6$
&257$ 9(172 ,03(50(É9(/ %
$
5(6,67(17( É &+89$ $%(5785$ 3$5$ )É&,/ 3(5621$/,=$d®2 38;$'25
6
0
$ %
/
;/
52<$/
;;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
52<$/ %/8(
Ê
1$9<
5('
5('
%/86®2 % & $7/$17,& 6+25(
-8 %OXVmR LPSHUPHiYHO &DSX] LQFRUSRUDGR QD JROD )RUUR HP PDOKD SROLpVWHU 3XQKRV DMXVWiYHLV FRP YHOFUR 'RLV EROVRV IURQWDLV EROVR LQWHULRU
&$38= 12 ,17(5,25 '$ *2/$ &257$ 9(172 ,03(50(É9(/
5(6,67(17( É &+89$ 5(6,67(17( $2 )5,2 $%(5785$ 3$5$ )É&,/ 3(5621$/,=$d®2 381+26 $-867É9(,6 &20 9(/&52 38;$'25
$
6
0
%
/
;/
;;/
$ %
:+,7(
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
1</21
:+,7(
%/$&.
'$5. *5(<
1$9<
5('
5('
25$1*(
%/86®2 % & ,' 0$1 -8, %OXVmR XQLVH[R LPSHUPHiYHO &DSX] LQFRUSRUDGR QD JROD &RP IRUUR EROVRV ODWHUDLV -8, -:,
3iJ
&257$ 9(172 &$38= 12 ,17(5,25 '$ *2/$
,03(50(É9(/
5(6,67(17( É &+89$ $%(5785$ 3$5$ )É&,/ 3(5621$/,=$d®2 38;$'25
%
$
6
0
$ %
/
;/
;;/
5('
7$0$1+26 &0
:+,7(
WDPDQKRV SRGHP YDULDU
7RS
32/,(67(5
25$1*(
5('
129,'$'(
1$9<
'$5. *5(<
%/$&.
:+,7(
'$5. *5(<
%/86®2 % & 2&($1 6+25( -8 %OXVmR LPSHUPHiYHO &DSX] LQFRUSRUDGR QD JROD )RUUR HP PLFURILEUD SROLpVWHU PDOKD SRODU 3XQKRV DMXVWiYHLV FRP YHOFUR 'RLV EROVRV IURQWDLV EROVR LQWHULRU
-. 3iJ
&257$ 9(172 5(6,67(17( $2 )5,2
,03(50(É9(/
5(6,67(17( É &+89$ 38;$'25
$%(5785$ 3$5$ )É&,/ 3(5621$/,=$d®2
%2/62 ,17(5,25
381+26 $-867É9(,6 &20 9(/&52
%
$
6
0
$ %
5('
/
;/
;;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
1</21
%/$&.
'$5. *5(<
1$9<
5('
5('
%/86®2 % & ,1 -8
&$38= $-867É9(/ '(1752 '$ *2/$
,17(5,25 32/$5 32/,(67(5
38;$'25
&257$ 9(172
%OXVmR HP ([WHULRU LPSHUPHiYHO &DSX] LQFRUSRUDGR QD JROD EROVRV IURQWDLV FRP DFHVVR GXSOR ,QWHULRU SRODU GH IHFKR LQWHLUR EROVRV IURQWDLV 3DUD XVR HP VHSDUDGR RX HP FRQMXQWR
5(6,67(17( É &+89$
%2/62 ,17(5,25
,03(50(É9(/
5(6,67(17( $2 )5,2
$%(5785$ 3$5$ )É&,/ 3(5621$/,=$d®2 381+26 $-867É9(,6 &20 9(/&52
%
$
1$9<
6
0
$ %
/
;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
1</21
5('
%/$&. *5(<
%/$&.
1$9<
5('
%/86®2 % & 5($/ 0(1
-0 %OXVmR SDUND LPSHUPHiYHO &DSX] LQFRUSRUDGR QD JROD )RUUR HP SRODU ,QWHULRU DFROFKRDGR ,QWHULRU DR WRP EROVRV IURQWDLV FRP IHFKR EROVR LQWHULRU
-0 -:
3iJ
&257$ 9(172 ,03(50(É9(/
5(6,67(17( &+89$ 5(6,67(17( $2 )5,2 $%(5785$ 3$5$ )É&,/ 3(5621$/,=$d®2 381+26 $-867É9(,6 &20 9(/&52 38;$'25
%
$
%/$&.
6
0
/
;/
;;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
32/,(67(5
:+,7(
%/$&.
52<$/
1$9<
%/$&.
'((3 5('
25$1*(
%/86®2 08.8$ +20(0 (0 0. %OXVmR GH KRPHP GH PDQJDV DPRYtYHLV 7UDQVIRUPD VH HP FROHWH &DSX] LQWHJUDGR QD JROD 9iULRV EROVRV LQWHULRUHV H H[WHULRUHV )UHQWH FRP IHFKR H PRODV ([FHOHQWH TXDOLGDGH GH FRQIHomR H DFDEDPHQWRV
0$1*$6 $029,9(,6
&257$ 9(172
5(6,67(17( É &+89$ ,03(50(É9(/ 5(6,67(17( $2 )5,2 $%(5785$ 3$5$ )É&,/ 3(5621$/,=$d®2
%
$
6
0
$ %
/
;/
;;/
1$9<
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
GS '(6,*1(' 32578*$/
,1
«iÀ i?Ûi
ÀÌ>Ê6i Ì /iÀ Ã >`
0$1*$6
Ê
$029Ì9(,6
75$16)250$ 6(
(0 &2/(7(
Ê
32/,(67(5
1$9<
%/$&.
3$5.$ 08.8$ +20(0
0. 3DUND GH KRPHP LPSHUPHiYHO &DSX] LQFRUSRUDGR QD JROD )UHQWH FRP IHFKR GH FXUVRU GXSOR H PRODV ,QWHULRU DFROFKRDGR ([FHOHQWH TXDOLGDGH GH FRQIHomR H DFDEDPHQWRV
38;$'25(6
381+26 $-867É9(,6 %2/626 &20 )(&+2
&257$ 9(172 ,03(50(É9(/
5(6,67(17( É &+89$ 5(6,67(17( $2 )5,2
%2/62 ,17(5,25 ,17(5,25 $&2/&+2$'2 )2552 3$'521,=$'2
$%(5785$ 3$5$ )É&,/ 3(5621$/,=$d®2 381+26 $-867É9(,6 &20 9(/&52 38;$'25
%
$
;6 1$9<
6
0
/
;/
;;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
32/,(67(5
GS '(6,*1(' 32578*$/
,1
,PSHUPHiYHO &RUWD 9HQWR 7HUPR LVRODGR
%/$&.
1$9<
1$9<
%/86®2 % & ; /,7( 62)76+(// 0(1
-0 %OXVmR KRPHP LPSHUPHiYHO &RVWXUDV LPSHUPHDELOL]DGDV ,QWHULRU SROLHVWHU
-0 -:
3iJ
&257$ 9(172
,03(50(Ã&#x2030;9(/
5(6,67(17( Ã&#x2030; &+89$
7(502 ,62/$'2
5(63,5Ã&#x2030;9(/ *5 0 +
38;$'25
3527(&725 '( )(&+2
381+26 $-867Ã&#x2030;9(,6 &20 9(/&52
&267$6 0$,6 &2035,'$6
%2/62 (;7(5,25 &20 )(&+2
$%(5785$6 3$5$ ),2 '( $86&8/7$'25(6
%
$
'(5 3(('
6
0
/
;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
32/,(67(5 (/$67$12
9(172 &+89$ &$0$'$ (;7(5,25 7(&,'2 62)76+(// 32/,(67(5 (/$67$12
&$0$'$ ,17(5,25 &257$ 9(172 ( 0(0%5$1$ ,03(50(Ã&#x2C6;9(/ 5(3(/(17( ¬ Ã&#x2C6;*8$ '( $/72 1Ã&#x2039;9(/
*5((1 0266
'((3 5('
1$9<
%/$&.
:+,7(
&$0$'$ ,17(5,25 32/,(67(5
75$163,5Ã&#x2C6;9(/
*5((1 0266
%/86®2 % & +22'(' 62)76+(// +20(0
-0 %OXVmR VRIWVKHOO GH DOWD SHUIRUPDQFH &DSX] DPRYtYHO 3XQKRV DMXVWDYHLV EROVRV H[WHULRUHV
-0 -:
3iJ
&$38= 5(029,9(/
&257$ 9(172 ,03(50(Ã&#x2030;9(/
5(6,67(17( Â &+89$ 5(6,67(17( $2 )5,2 381+26 $-867Ã&#x2030;9(,6 &20 9(/&52 38;$'25
%
$
6
:+,7(
0
/
;/
;;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
32/,(67(5
:+,7(
%/$&.
52<$/
1$9<
5('
'$5. *5(<
%/86®2 % & +22'(' 62)76+(// :20(1 -: %OXVmR VRIWVKHOO GH DOWD SHUIRUPDQFH &RUWH FLQWDGR 0HPEUDQD UHVSLUiYHO PLFUR SHUIXUDGD &DSX] DPRYtYHO ,QWHULRU HP PLFUR SRODU
-0 -: 3iJ
&$38= 5(029,9(/
&257$ 9(172 ,03(50(Ã&#x2030;9(/
5(6,67(17( Â &+89$
5(6,67(17( $2 )5,2 381+26 $-867Ã&#x2030;9(,6 &20 9(/&52 38;$'25
%
$
;6
6
0
$ %
/
:+,7(
;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
32/,(67(5
:+,7(
%/$&.
52<$/
1$9<
5('
'$5. *5(<
&257$ 9(172 % & 6,52&&2 :20(1 -:
-: < &RUWD YHQWR GH VHQKRUD LPSHUPHiYHO &DSX] LQFRUSRUDGR QD JROD EROVRV ODWHUDLV 7UDQVIRUPD VH HP EROVD VLVWHPD . :D\
-.
3iJ
-8 -:
3iJ
&$38= 12 ,17(5,25 '$ *2/$ 75$16)250$ 6( (0 %2/6$
&257$ 9(172 ,03(50(Ã&#x2030;9(/ 5(6,67(17( Ã&#x2030; &+89$ 38;$'25
%
$
;6
$72//
6
0
$ %
/
;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
1</21
8/75$ <(//2:
8/75$ <(//2:
:+,7(
%/$&.
1$9<
52<$/
$72//
5($/ *5((1
5('
25$1*(
%/86®2 % & ,' :20(1 -:, %OXVmR GH VHQKRUD LPSHUPHiYHO &DSX] LQFRUSRUDGR QD JROD EROVRV ODWHUDLV &RUWH IHPLQLQR -8, -:,
3iJ
&$38= 12 ,17(5,25 '$ *2/$ &257$ 9(172
,03(50(É9(/
5(6,67(17( É &+89$ 38;$'25 $%(5785$ 3$5$ )É&,/ 3(5621$/,=$d®2
%
$
;6
6
0
$ %
/
5('
;/
7$0$1+26 &0
:+,7(
WDPDQKRV SRGHP YDULDU
7RS
32/,(67(5
129,'$'( 25$1*(
5('
1$9<
'$5. *5(<
%/$&.
:+,7(
8/75$ <(//2:
1$9<
%/86®2 % & 5($/ :20(1
-: 3DUND GH VHQKRUD HP SROLpVWHU FRP FDSX] QR LQWHULRU GD JROD 3XQKRV DMXVWiYHLV FRP YHOFUR EROVRV FRP IHFKR
'0330 "$0-$)0"%0 1"%30/*;"%0
-0 -: 3iJ
&257$ 9(172
,03(50(É9(/
5(6,67(17( É &+89$
7(502 ,62/$'2
381+26 $-867É9(,6 &20 9(/&52
3527(&725 '( )(&+2
%2/626 (;7(5,25(6 &20 )(&+2
&257( $-867$'2
&$38= 12 ,17(5,25 '$ *2/$
&$38= $-867É9(/
$%(5785$ ,17(5,25 3$5$ )É&,/ 3(5621$/,=$d®2
%
$
6 %/$&.
0
/
;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
32/,(67(5
:+,7(
%/$&.
ˎ ƻNJrəÝǢ ŷ ^r rŗǻNJrµ ^r ǻ ō ŗËŷǢ ɭǢ r ɭɭĵ v ^r ˤ ^Ý Ǣ șǻrÝǢʳ
1$9<
52<$/ %/8(
25$1*(
'((3 5('
25$1*(
3$5.$ 08.8$ 6(1+25$ 0. 3DUND GH VHQKRUD LPSHUPHiYHO &DSX] LQFRUSRUDGR QD JROD )UHQWH FRP IHFKR GH FXUVRU GXSOR H PRODV ,QWHULRU DFROFKRDGR ([FHOHQWH TXDOLGDGH GH FRQIHFomR H DFDEDPHQWRV
&257$ 9(172
5(6,67(17( É &+89$ $%(5785$ 3$5$ )É&,/ 3(5621$/,=$d®2 ,03(50(É9(/ 5(6,67(17( $2 )5,2
%
$
6
0
$ %
/
;/
;;/
1$9<
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
GS '(6,*1(' 32578*$/ ,1
32/,(67(5
,PSHUPHiYHO &RUWD 9HQWR 7HUPR LVRODGR Ê
1$9<
%/$&.
%/86®2 % & ; /,7( 62)76+(//
-: %OXVmR VHQKRUD LPSHUPHiYHO &RVWXUDV LPSHUPHDELOL]DGDV ,QWHULRU SROLHVWHU
-0 -: 3iJ
&257$ 9(172
,03(50(Ã&#x2030;9(/
5(6,67(17( Ã&#x2030; &+89$
5(63,5Ã&#x2030;9(/ *5 0 +
7(502 ,62/$'2 3527(&725 '( )(&+2
381+26 $-867Ã&#x2030;9(,6 &20 9(/&52
&267$6 0$,6 &2035,'$6
%2/62 (;7(5,25 &20 )(&+2
$%(5785$6 3$5$ ),2 '( $86&8/7$'25(6
%
$
'((3 5('
6
0
;/
/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
32/,(67(5 (/$67$12
9(172 &+89$
:+,7(
%/$&.
1$9<
'((3 5('
*5((1 0266
&$0$'$ (;7(5,25 7(&,'2 62)76+(// 32/,(67(5 (/$67$12
&$0$'$ ,17(5,25 &257$ 9(172 ( 0(0%5$1$ ,03(50(Ã&#x2C6;9(/
5(3(/(17( ¬ Ã&#x2C6;*8$ '( $/72 1Ã&#x2039;9(/
&$0$'$ ,17(5,25 32/,(67(5 75$163,5Ã&#x2C6;9(/
*5((1 0266
&257$ 9(172 % & 6,52&&2 .,'6
-. -. < &RUWD YHQWR GH FULDQoD LPSHUPHiYHO &DSX] LQFRUSRUDGR QD JROD %ROVR ODWHUDO 7UDQVIRUPD VH HP EROVD VLVWHPD . :D\
-8 -: 3iJ
3iJ
75$16)250$ 6( (0 %2/6$
&$38= 12 ,17(5,25 '$ *2/$
&257$ 9(172 %
$
,03(50(Ã&#x2030;9(/ 5(6,67(17( Ã&#x2030; &+89$
$ %
$72//
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
8/75$ <(//2:
1</21
8/75$ <(//2:
*2/'
25$1*(
5('
5($/ *5((1
$72//
52<$/
1$9<
%/$&.
:+,7(
5($/ *5((1
%/86®2 % & 2&($1 6+25( .,'6 -. %OXVmR LPSHUPHiYHO GH FULDQoD &DSX] LQFRUSRUDGR QD JROD )RUUR HP PLFURILEUD SROLpVWHU 3XQKRV DMXVWiYHLV FRP YHOFUR 'RLV EROVRV IURQWDLV
-8
3iJ
&257$ 9(172
,03(50(É9(/
,03(50(É9(/
5(6,67(17( $2 )5,2
5(6,67(17( É &+89$
38;$'25
$%(5785$ 3$5$ )É&,/ 3(5621$/,=$d®2
%2/62 ,17(5,25 &$38= $-867É9(/
381+26 $-867É9(,6 &20 9(/&52
%
$
5('
$ %
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
1$9<
32/,(67(5
5('
1$9<
%/$&.
5('
&2/(7(6 HVWLOR GLD D GLD
&2/(7( % & %2'<:$50(5 0(1
&257$ 9(172 ,03(50(É9(/
-0
&ROHWH GH KRPHP LPSHUPHiYHO DFROFKRDGR )HFKR DR WRP %ROVRV ODWHUDLV FRP IHFKRV
5(6,67(17( É &+89$ 7(502 ,62/$'2
$%(5785$ 3$5$ )É&,/ 3(5621$/,=$d®2 3$,1(/ &267$6 6(0 &26785$6 %2/62 ,17(5,25 &267$6 0$,25(6 48( )5(17(
$
6
0
$ %
5('
%
;/
/
;;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
1</21
:+,7(
1$9<
%/$&.
5('
&2/(7( % & =(1 :20(1
&257$ 9(172 ,03(50(É9(/ 5(6,67(17( É &+89$ 7(502 ,62/$'2
-:
$%(5785$ 3$5$ )É&,/ 3(5621$/,=$d®2 3$,1(/ &267$6 6(0 &26785$6 %2/62 ,17(5,25
&ROHWH GH VHQKRUD LPSHUPHiYHO DFROFKRDGR )HFKR DR WRP EROVRV IURQWDLV
&267$6 0$,25(6 48( )5(17(
$
;6
6
%
0
/
;/
$ %
5('
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
1</21
:+,7(
%/$&.
1$9<
5('
&2/(7( 08.8$ 08/7,%2/626 0. &ROHWH 0XOWLEROVRV ,QWHULRU IRUUDGR FRP PDOKD UHVSLUiYHO EROVRV j IUHQWH EROVRV DWUiV %2/626 1$6 &267$6
%2/626 3(5)(,726
%
$
0 /
;/
$ %
6
%(*(
7$0$1+26 &0
$6 &2
5(6
12 9
WDPDQKRV SRGHP YDULDU
32/,(67(5 $/*2'®2
Ê
'$5. *5(<
%/$&.
Ê %(*(
Ê Ê 1$9<
&2/(7( % & (;3/25(5 -8 &ROHWH DFROFKRDGR PXOWLEROVRV )UHQWH FRP IHFKR H PRODV 5HSHOHQWH H UHVLVWHQWH j iJXD
&267$6 0$,25(6 48( $ )5(17(
&$9$ $-867Ã&#x2030;9(/
&257$ 9(172
,03(50(Ã&#x2030;9(/
5(6,67(17( Â &+89$
7(502 ,62/$'2
%2/626 '( 87,/,'$'(
%2/62 ,17(5,25
% $
2/,9(
6
0
/
;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
32/,(67(5 $/*2'®2
%/$&.
5('
1$9<
2/,9(
%(,*(
2/,9(
'(632572 $ &203(7,5 &20 (67,/2
E\
7 6+,57 6(7$6 7(&+1,&$/ 77 7 VKLUW GH GHVSRUWR XQLVH[R ELFRORU 7HFLGR OHYH H UHVSLUiYHO /DYDJHP IiFLO H VHFDJHP UiSLGD
E\
&267$6
$72// :+,7(
6
0
/
;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
32/,(67(5
%/$&. :+,7(
5(' :+,7(
:+,7( *5(< ,'($/ 3$5$ 68%/,0$d®2
$72// :+,7(
/,0( :+,7(
$72// :+,7(
:+,7( *5(<
7 6+,57 6(7$6 :20$1 ),77(' 7(&+ 7 : 7 VKLUW GH GHVSRUWR SDUD VHQKRUD 7HFLGR OHYH H UHVSLUiYHO /DYDJHP IiFLO H VHFDJHP UiSLGD &RUWH FLQWDGR
E\
%/$&.
6
0
/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
3853/(
32/,(67(5
5('
%/$&.
7 6+,57 6(7$6 ),77(' 7(&+ 7 8 7 VKLUW GH GHVSRUWR XQLVH[R 7HFLGR OHYH H UHVSLUiYHO /DYDJHP IiFLO H VHFDJHP UiSLGD
E\
&$/d¯(6 6(7$6 7(&+ 6+257 7 8
6
0
/
;/
;;/
$ %
&DOomR GH GHVSRUWR XQLVH[R 7HFLGR OHYH H UHVSLUiYHO /DYDJHP IiFLO H VHFDJHP UiSLGD EROVRV H FRUGmR DMXVWiYHO
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
)/825 <(//2:
6
0
/
;/
;;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
7 8 7 6+,57 6(7$6 ),77(' 7(&+
:+,7(
%/$&.
5('
32/,(67(5
:+,7( ,'($/ 3$5$ 68%/,0$d®2
52<$/ %/8( )/825 <(//2:
7 8 &$/d¯(6 6(7$6 7(&+ 6+257
%/$&.
32/,(67(5
7 6+,57 6(7$6 .,' ),77(' 7(&+ 7 . 7 VKLUW GH GHVSRUWR SDUD FULDQoD 7HFLGR OHYH H UHVSLUiYHO /DYDJHP IiFLO H VHFDJHP UiSLGD
E\
$ %
&$/d¯(6 6(7$6 .,' 7(&+ 6+257 7 .
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
&DOomR GH GHVSRUWR SDUD FULDQoD 7HFLGR OHYH H UHVSLUiYHO /DYDJHP IiFLO H VHFDJHP UiSLGD EROVRV H FRUGmR DMXVWiYHO
52<$/ %/8(
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
32/,(67(5
7 . 7 6+,57 6(7$6 .,' ),77(' 7(&+
:+,7( ,'($/ 3$5$ 68%/,0$d®2
32/,(67(5
52<$/ %/8(
5('
%/$&.
:+,7(
7 . &$/d¯(6 6(7$6 .,' 7(&+ 6+257
%/$&.
9(1'$ (0 3$&.6 3UD]R GH HQWUHJD
DSUR[LPDGR GH GLDV ~WHLV
&2/(d速2 '(1,0 ( 3$5$',6(
7 6+,57 '10 3/8* ,1 0(1 70' 7 VKLUW GH PDQJD FXUWD HP PDOKD MHUVH\ 'XSOR ULE FRP FRVWXUD HP FRQWUDVWH UHIRUoDQGR R HIHLWR GHVERWDGR %DLQKD FRP SRQWR LQYLVtYHO (IHLWR GHVERWDGR DFHQWXDGR QDV FRVWXUDV JROD RPEURV FDYDV H EDLQKD
6
5867< &/$6+
$/*2'®2
%/8( &/$6+
*5
*5((1 &/$6+
0
/
;/
;;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
-$==%(55< 5867< &/$6+ &/$6+
9(1'$ (0 3$&.6 81,'$'(6 325 &25 ( 7$0$1+2
*5(< &/$6+
3UD]R GH HQWUHJD DSUR[LPDGR GH GLDV ~WHLV
7 6+,57 '10 3/8* ,1 :20$1 7:' 7 VKLUW VHQKRUD GH PDQJD FXUWD HP PDOKD MHUVH\ 'XSOR ULE FRP FRVWXUD HP FRQWUDVWH UHIRUoDQGR R HIHLWR GHVERWDGR %DLQKD FRP SRQWR LQYLVtYHO (IHLWR GHVERWDGR DFHQWXDGR QDV FRVWXUDV JROD RPEURV FDYDV H EDLQKD
-$==%(55< &/$6+
;6
6
0
/
;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
$/*2'®2
%/8( &/$6+
*5
*5((1 &/$6+
-$==%(55< 5867< &/$6+ &/$6+
*5(< &/$6+
9(1'$ (0 3$&.6 81,'$'(6 325 &25 ( 7$0$1+2 3UD]R GH HQWUHJD DSUR[LPDGR GH GLDV ~WHLV
7 6+,57 '10 (',7,1* 0(1 70'
6
0
/
;/
7 VKLUW GH PDQJD FXUWD HP PDOKD MHUVH\ 'XSOR ULE FRP FRVWXUD HP FRQWUDVWH DFHQWXDQGR R HIHLWR GHVERWDGR %DLQKD FRP SRQWR LQYLVtYHO (IHLWR GHVERWDGR DFHQWXDGR QDV FRVWXUDV JROD RPEURV FDYDV H EDLQKD &RVWXUDV ODWHUDLV WRUFLGDV
;;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
9(1'$ (0 3$&.6 81,'$'(6 325 &25 ( 7$0$1+2
*5 $/*2'®2
5$: %/8(
3UD]R GH HQWUHJD DSUR[LPDGR GH GLDV ~WHLV
7 6+,57 '10 (',7,1* :20$1 7:'
;6
6
0
/
7 VKLUW VHQKRUD GH PDQJD FXUWD HP PDOKD MHUVH\ 'XSOR ULE FRP FRVWXUD HP FRQWUDVWH DFHQWXDGR R HIHLWR GHVERWDGR &RUWH FLQWDGR %DLQKD FRP SRQWR LQYLVtYHO (IHLWR GHVERWDGR DFHQWXDGR QDV FRVWXUDV JROD RPEURV FDYDV H EDLQKD &RVWXUDV ODWHUDLV WRUFLGDV
;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
9(1'$ (0 3$&.6 81,'$'(6 325 &25 ( 7$0$1+2 3UD]R GH HQWUHJD DSUR[LPDGR GH GLDV ~WHLV
*5 $/*2'®2
5$: %/8(
6:($76+,57 '10 ,19,1&,%/( 0(1 :0' 6ZHDWVKLUW FRP PDQJD UDJODQ FRPSULGD 'HFRWH UHGRQGR 0DQJDV 5DJODQ PDOKD )UHQFK 7HUU\ %RUGD FUXD VHP FRVWXUD QD JROD SXQKRV H EDLQKD 5LE [ QD JROD SXQKRV H EDLQKD
6
86(' *2/'
32/,(67(5 $/*2'®2
86(' *2/'
*5
'((3 ,1',*2
/
;/
;;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
0
$ %
9(1'$ (0 3$&.6 81,'$'(6 325 &25 ( 7$0$1+2
3853/( 602.(
3UD]R GH HQWUHJD DSUR[LPDGR GH GLDV ~WHLV
6:($76+,57 '10 ,19,1&,%/( :20$1 ::' 3853/( 602.(
6ZHDWVKLUW FRP PDQJD UDJODQ FRPSULGD 'HFRWH UHGRQGR ODUJR 0DQJDV 5DJODQ 0DOKD )UHQFK 7HUU\ %RUGD FUXD VHP FRVWXUD QD JROD SXQKRV H EDLQKD 5LE [ QD JROD SXQKRV H EDLQKD
;6
6
0
/
;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
32/,(67(5 $/*2'®2
86(' *2/'
*5
'((3 ,1',*2
3853/( 602.(
9(1'$ (0 3$&.6 81,'$'(6 325 &25 ( 7$0$1+2 3UD]R GH HQWUHJD DSUR[LPDGR GH GLDV ~WHLV
6:($76+,57 '10 67$5/,*+7 0(1 :0' &+,& '(1,0
6
0
/
;/
;;/
$ %
6ZHDWVKLUW FRP PDQJD UDJODQ FRPSULGD $VSHWR YLQWDJH 6OXE \DUQ 0DOKD )UHQFK 7HUU\ 'HFRWH UHGRQGR 5LE [ QD JROD SXQKRV H EDLQKD &RUWH PRGHUQR &RVWXUDV ODWHUDLV
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
9(1'$ (0 3$&.6 81,'$'(6 325 &25 ( 7$0$1+2 3UD]R GH HQWUHJD DSUR[LPDGR GH GLDV ~WHLV
&+,& 2/,9(
&+,& '(1,0
*5
&+,& 5('
32/,(67(5 $/*2'®2
&+,& %/$&.
&+,& :+,7(
6:($76+,57 '10 67$5/,*+7 :20$1 ::'
;6
6
0
/
6ZHDWVKLUW FRP GHFRWH UHGRQGR JUDQGH 9LQWDJH ORRN 6OXE <DUQ 0DOKD )UHQFK 7HUU\ 0DQJDV 5DJODQV 5LE [ QD JROD SXQKRV H EDLQKD &RUWH DMXVWDGR &RVWXUDV ODWHUDLV
;/
$ % 7$0$1+26 &0
&+,& 5('
WDPDQKRV SRGHP YDULDU
9(1'$ (0 3$&.6 81,'$'(6 325 &25 ( 7$0$1+2 3UD]R GH HQWUHJD DSUR[LPDGR GH GLDV ~WHLV
&+,& 2/,9(
&+,& '(1,0
*5
&+,& 5('
32/,(67(5 $/*2'®2
&+,& %/$&.
&+,& :+,7(
6:($76+,57 '10 81,9(56( 0(1 :0' 6ZHDWVKLUW FRP FDSX] H EROVRV ODWHUDLV &DSX] FRP FRUGmR GH DMXVWH IHLWR GH Ã&#x20AC;WD PDLV HVFXUD H LOKyV PHWiOLFRV %ROVRV ODWHUDLV PRGHUQRV FRP SHVSRQWR GXSOR 5LE [ QRV SXQKRV H EDLQKD &RVWXUDV ODWHUDLV
$
6
86(' *2/'
32/,(67(5 $/*2'®2
*5
0
%
/
;/
;;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
9(1'$ (0 3$&.6 81,'$'(6 325 &25 ( 7$0$1+2
'$5. +($7+(5 '$5. +($7+(5 '$5. +($7+(5 %/8( 5(' 0266
3UD]R GH HQWUHJD DSUR[LPDGR GH GLDV ~WHLV
6:($76+,57 '10 81,9(56( :20$1 ::' 6ZHDWVKLUW FRP FDSX] H EROVRV ODWHUDLV &DSX] FRP FRUGmR GH DMXVWH IHLWR GH Ã&#x20AC;WD PDLV HVFXUD H LOKyV PHWiOLFRV %ROVRV ODWHUDLV PRGHUQRV FRP SHVSRQWR GXSOR 2PEURV H FDYDV FRP SHVSRQWR OLVR &RVWXUDV ODWHUDLV
$
;6
3853/( 602.(
6
%
0
/
;/
$ % 7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
32/,(67(5 $/*2'®2
*5
'$5. +($7+(5 '$5. +($7+(5 '$5. +($7+(5 %/8( 5(' 0266
9(1'$ (0 3$&.6 81,'$'(6 325 &25 ( 7$0$1+2 3UD]R GH HQWUHJD DSUR[LPDGR GH GLDV ~WHLV
$/3(5&$7$6 (63$'5,//( 0(1 $06 $OSHUFDWDV HP WHFLGR GHQLP /RQD GH DOJRGmR UHVLVWHQWH 5HIRUoDGR QD IUHQWH 5DVWR DQWLGHUUDSDQWH
7$0$1+26
&+,& '(1,0
WDPDQKRV SRGHP YDULDU
7(&,'2 $/*2'®2 62/$ -87( ( %255$&+$
%/$&.
3$&,),& '((3 %/8( '((3 %/8( '(1,0
3$&,),& *5((1
)/82 3,1.
3$&,),& 3,1.
:+,7(
$/3(5&$7$6 (63$'5,//( :20$1 $:6 $OSHUFDWDV HP WHFLGR GHQLP /RQD GH DOJRGmR UHVLVWHQWH 5HIRUoDGR QD IUHQWH 5DVWR DQWLGHUUDSDQWH
7$0$1+26
3$&,),& *5((1
WDPDQKRV SRGHP YDULDU
7(&,'2 $/*2'®2 62/$ -87( ( %255$&+$
%/$&.
3$&,),& '((3 %/8( '((3 %/8( '(1,0
3$&,),& *5((1
)/82 3,1.
3$&,),& 3,1.
:+,7(
7 6+,57 )/$0,1*2 0(1 706 7 VKLUW PDQJD FXUWD 6LQJOH -HUVH\ H[WUD VXDYH 'HFRWH UHGRQGR 5LE [ QD JROD SXQKR H EDLQKD &RVWXUDV ODWHUDLV
%
$
0
6
3$&,),& '((3 %/8(
$/*2'®2 *5
:+,7(
3$&,),& *5(<
3$&,),& 3,1.
;;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
;/
/
$ %
3$&,),& *5((1
3$&,),& '((3 %/8(
9(1'$ (0 3$&.6 81,'$'(6 325 &25 ( 7$0$1+2
%/$&.
3UD]R GH HQWUHJD DSUR[LPDGR GH GLDV ~WHLV
7 6+,57 25&+,' :20$1 7:6 7 VKLUW GH PDQJD FXUWD OLVD 6LQJOH MHUVH\ H[WUD VXDYH %RUGD VHP FRVWXUD QD PDQJD 'HFRWH UHGRQGR ODUJR 3DUWH GH WUiV GUDSHDGD *ROD QR PHVPR WHFLGR %DVH DUUHGRQGDGD OLJHLUDPHQWH PDLV FRPSULGD QD SDUWH GH WUiV %DLQKD QR PHVPR WHFLGR &RVWXUDV ODWHUDLV
%
$
;6
$ % 3$&,),& 3,1.
$/*2'®2
:+,7(
*5
3$&,),& *5(<
3$&,),& 3,1.
3,1. */2:
6
0
/
;/ ;;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
3$&,),& *5((1
3$&,),& '((3 %/8(
%/$&.
9(1'$ (0 3$&.6 81,'$'(6 325 &25 ( 7$0$1+2 3UD]R GH HQWUHJD DSUR[LPDGR GH GLDV ~WHLV
7 6+,57 7523,&$/ :20(1 7:6
$
6
7 VKLUW VHQVXDO RPEURV GHVFREHUWRV 6LQJOH MHUVH\ 4XDOLGDGH VXSHULRU H[WUD VXDYH 'XSOR SHVSRQWR QD EDVH GD PDQJD 'HFRWH UHGRQGR SURIXQGR &RVWXUDV ODWHUDLV
%
0
;/
/
$ %
3$&,),& *5((1
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
9(1'$ (0 3$&.6 81,'$'(6 325 &25 ( 0(602 7$0$1+2
%/$&.
3$&,),& '((3 %/8(
3$&,),& *5((1
3$&,),& 3,1.
3,1. */2:
*5 $/*2'®2
3$&,),& *5(<
:+,7(
3UD]R GH HQWUHJD DSUR[LPDGD GH GLDV ~WHLV
7 6+,57 6800(5 )(9(5 :20$1 7:6
%
$
;6
$ %
6
7RS OHYH HP VLQJOH MHUVH\ FRP FDYDV SURIXQGDV 4XDOLGDGH VXSHULRU H[WUD VXDYH 'HFRWH HP 9 FRP HVWLOR VLPpWULFR IUHQWH YHUVR &RVWXUDV ODWHUDLV
0
/
;/ ;;/
3$&,),& '((3 %/8(
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
9(1'$ (0 3$&.6 81,'$'(6 325 &25 ( 0(602 7$0$1+2
%/$&.
3$&,),& '((3 %/8(
3UD]R GH HQWUHJD DSUR[LPDGD GH GLDV ~WHLV
3$&,),& *5((1
3,1. */2:
3$&,),& 3,1.
*5
$/*2'®2
3$&,),& *5(<
:+,7(
9(67,'2 6,5(1 621* 7:6 9HVWLGR YHUmR FRPSULGR 6LQJOH MHUVH\ 4XDOLGDGH VXSHULRU H[WUD VXDYH *ROD H FDYDV QR SUySULR WHFLGR 0DUFDo}HV QDV FRVWXUDV ODWHUDLV SHUPLWH FRUWDU R YHVWLGR H HVFROKHU WDPDQKR PDLV FXUWR %DLQKD FRP SRQWR LQYLVtYHO &RVWXUDV ODWHUDLV
&25(6 25,*,1$,6
%$,1+$ &20 &26785$ ,19,6Ì9(/
3$&,),& 3,1. $
%
%/$&.
;6
$ %
6
0
/
;/ ;;/
7$0$1+26 &0
WDPDQKRV SRGHP YDULDU
$/*2'®2
:+,7(
*5
3$&,),& 3,1.
3,1. */2:
3$&,),& 3$&,),& %/$&. *5((1 '((3 %/8(
9(1'$ (0 3$&.6 81,'$'(6 325 &25 ( 7$0$1+2 3UD]R GH HQWUHJD DSUR[LPDGR GH GLDV ~WHLV
%21e6 (67,/2 (0 029,0(172
&$36 21 7,0( '( 3$,1e,6 &7 E\ 08.8$
%RQp GH SDLQpLV RULItFLRV ERUGDGRV 3DOD SUp FXUYD $MXVWH HP YHOFUR )iFLO SHUVRQDOL]DomR
)(&+2 (0 9(/&52
6(0 &26785$ )5217$/
3853/(
/070 6.< %/8(
:+,7(
5('
6$1'
3,1.
%/$&.
25$1*(
%5,*+7 *5((1
*2/'
/,0(
1$9<
3853/(
52<$/
$72//
6.< %/8(
&$36 21 7,0( 3$,1e,6 6$1':,&+ &7 E\ 08.8$
%RQp GH SDLQpLV RULItFLRV ERUGDGRV 3DOD VDQGZLFK SUp FXUYD $MXVWH HP YHOFUR )iFLO SHUVRQDOL]DomR
&25 &2175$67( 1$ 3$/$ 6$1':,&+
52<$/ :+,7(
3853/( :+,7(
$72// :+,7(
6.< %/8( :+,7(
52<$/ :+,7(
/,0( :+,7(
1$9< :+,7(
/070
%5,*+7 *5((1 :+,7(
%/$&. :+,7(
6$1' :+,7(
:+,7( 1$9<
*2/' :+,7(
25$1*( :+,7(
5(' :+,7(
3,1. :+,7(
25$1*( :+,7(
&$36 21 7,0( 5$3 &7 %RQp GH SDLQpLV RULItFLRV ERUGDGRV 3DOD SODQD HVWLOR 5$3 $MXVWH HP SOiVWLFR $-867( 25,*,1$/
5(' %/$&.
),7$ ,17(5,25 &$36 21 7,0(
/070
3853/( %/$&.
5(' %/$&.
%/$&. /(23$5'
5('
%/$&. /(23$5'
%/$&.
52<$/
&$36 21 7,0( 3$,1e,6 &7 E\ 08.8$
(;75$ 68$9(
%RQp GH SDLQpLV RULItFLRV ERUGDGRV 3DOD SUp FXUYD $MXVWH PHWiOLFR 7RTXH DYHOXGDGR
$-867( 0(7É/,&2 &$36 21 7,0(
6.< %/8(
7(&,'2 $9(/8'$'2
),7$ ,17(5,25 &$36 21 7,0(
/070
:+,7(
6.< %/8(
52<$/
25$1*(
/,0(
*2/'
5('
6$1'
%/$&.
/,0(
&$36 21 7,0( %,&2/25 &7 %RQp %, &2/25 GH SDLQpLV FRP SDOD SUp FXUYD 6XSHU VXDYH H OLVR $MXVWH HP YHOFUR )iFLO SHUVRQDOL]DomR $-867( &20 9(/&52 6$1' %52:1
:+,7( 5('
:+,7( 25$1*(
$72// :+,7(
(63(&,$/ 3$5$ 3(5621$/,=$5
5(' :+,7(
25$1*( 1$9<
:+,7( %5,*+7 *5((1
6$1' %52:1
:+,7( 52<$/
6.< :+,7(
/,0( :+,7(
3,1. :+,7(
$72// :+,7(
&$36 21 7,0( 3$,1e,6 /,*+7 &7 %RQp GH SDLQpLV RULItFLRV ERUGDGRV 3DOD SUp FXUYD FRP OX]HV OHG LQFRUSRUDGDV $MXVWH FRP IHFKR PHWiOLFR 5('
M
/8=(6 /('
$-867( 0(7É/,&2 &$36 21 7,0(
),7$ ,17(5,25 &$36 21 7,0( ',6321Ì9(,6 $ 3$57,5 '( -8/+2
&$08)/$'2
5('
1292
%/$&. &$08)/$'2
%RQp GH SDLQpLV RULItFLRV ERUGDGRV 3DOD SUp FXUYD $MXVWH HP YHOFUR
),$ Â&#x2021; Â&#x2021; Â&#x2021;
%21e 6(7$6 &5,$1d$ 3$,1e,6 $ %
(63(&,$/
5$
E\
* Â&#x2021; Â&#x2021; Â&#x2021; 6(5,
/,0(
$/*2'®2
:+,7(
%/$&.
6.< %/8(
52<$/
.(//< *5((1
25$1*(
1$9<
1$9<
<(//2:
/,0(
5('
)8&+6,$
&+$3e8 6(7$6 7e1,6 + &KDSpX GH WpQLV 6DUMD GH DOJRGmR
E\
5('
5('
1$9<
%(,*(
$/*2'®2
6.< %/8(
&0
:+,7( 5('
$FHVVyULRV GH FRPXQLFDomR
3XEOLFLGDGH H XWLOLGDGH
$&(66Ð5,26 7$3(7(6 &$&+(&2/ &$1(&$6 )813$&.
25/$ $%255$&+$'$ ! 'HFRUDomR SHUVRQDOL]DGD GR HVSDoR D XWLOL]DU
7$3(7(6 3(5621$/,=$9e,6 0 1RPDG 12%5(
3(5621$/,=$d®2 $75$9e6 '( 7(502 6(/$*(0
3$662 $ 3$662 &257(
9(562 '2 7$3(7(
38==/(
9(562 7(502 6(/$*(0
7$3(7( 3(5621$/,=$'2 7$3(7( 38%/,&,7É5,2
7$3(7( 0 120$'
9(56¯(6 02'(/26
7$3120$'
7$3(7( /,62
0HLR SXEOLFLWiULR H SURWHomR GR DPELHQWH DWUDYpV GR ELQyPLR FRPXQLFDomR XWLOLGDGH
/2*2 /(75$6
! 'HFRUDomR SHUVRQDOL]DGD GR HVSDoR D XWLOL]DU ! *UDQGH GXUDELOLGDGH ! 5HGXomR GRV JDVWRV FRP D PDQXWHQomR H OLPSH]D ! 0DLRU VHJXUDQoD QR FDPLQKDU SRU VHU DQWL GHUUDSDQWH ! /LPSH]D H SURWHFomR FRQWtQXD GRV SLVRV ! 1mR SURSDJDP FKDPDV H LQLEHP R DSDUHFLPHQWR GH IXQJRV
/,62
&20 25/$ '( %255$&+$
/2*2 /(75$6
&20 25/$ '( %255$&+$
! 'HFRUDomR SHUVRQDOL]DGD GR HVSDoR D XWLOL]DU
7$3(7(6 3(5621$/,=$9e,6 0 1RPDG 12%5(
3(5621$/,=$d®2 $75$9e6 '( 7(502 6(/$*(0
39&
35(72
*5$),7(
&,1=$ &/$52
35$7$
$=8/ 0$5,1+2
$=8/
$=8/ &/$52
9(5'( &$d$
9(5'(
9,1+2
9(50(/+2
/$5$1-$
$0$5(/2
&$67$1+2
2852
&$5$0(/2
%(*(
%5$1&2
*2552 6(7$6 +($9< .1,77(' + *RUUR PDOKD
E\
'$5. 1$9<
%/$&.
$/*2'速2
'$5. 1$9<
%/$&.
&$&+(&2/ 32/$5 08.8$
0. &DFKHFRO SRODU FRP DFDEDPHQWR GXSOR HP WRGD D YROWD
5('
32/,(67(5
*5
(WLTXHWD HFR ODEHO 3URJUDPD ODEHO \RX
0(','$6 FP ; FP
%/$&. %/$&.
&5($0
1$9<
5('
25$1*(
&$1(&$6
0HLR GH
FRPXQLFDomR (;(03/26 '( 3(5621$/,=$d¯(6 FHOHEUDU GDWDV LPSRUWDQWHV IRWRV SDUD UHFRUGDU WUDQVPLWLU PHQVDJHQV PHUFKDQGLVLQJ FROHo}HV
&$1(&$ '( 325&(/$1$
0. &DQHFD GH SRUFHODQD SHUVRQDOL]DGD FRP D VXD LPDJHP (VSHFLÀFDo}HV GD LPDJHP D DSOLFDU /DUJXUD FPV $OWXUD FPV ,QGLFDGR SDUD XWLOL]DomR HP PLFURRQGDV 4XDQWLGDGH PtQLPD SRU GHVHQKR XQLGDGHV
% $
$ FP % FP
'HVHQKRV PHUDPHQWH H[HPSOLILFDWLYRV
325&(/$1$
& 75$7$0(172 68%/,0$d®2
:+,7(
7 6+,57 )813$&.
0. : 0. & .,7 SDUD HODERUDomR GH W VKLUW SLQWDGD j PmR ,QFOXL W VKLUW GH FULDQoD 0XNXD SDOHWH GH FRUHV GH WLQWD G iJXD SLQFHO (PEDODJHP SOiVWLFD FRP FDELGH ,PDJHP DSHODWLYD HP FDUWmR ([FHOHQWH DUWLJR SDUD )(67$6 (6&2/$6 H (9(1726