TOT Badalona 1362 by TOT Badalona

/ÞNFSP %FM BM EF GFCSFS A

&TQBJ$

*TBCFM (SB×B QSF TFOUB i-B MJUFSBUVSB DBUBMBOB FO MB DSVÕMMB w

%h&OUSBEB

&M 11 UPSOB B BUJBS MB QPMÒNJDB BNC VOB DBNQBOZB DPOUSB VO PSBUPSJ NVTVMNË

"DUVBMJUBU

1PMÓUJDB

- "KVOUBNFOU EF #BEB 1MBUBGPSNB QFS MPOB J FM $PSUF *OHMÏT $BUBMVOZB BUFSSB B BDPSEFO DPOTUSVJS VOT #BEBMPOB HSBOT NBHBU[FNT BM TPMBS EF $BO -MBNBT

%JTCBVYB EF $BSOFTUPMUFT B UPUB MB DPNBSDB

"NC WFV QSÛQJB 0SJPM -MBEØ J -PSFO[P .FSDIÈO #BOEB EF UBNCPST J DPSOFUFT .PTTÒO "OUPO EVSBOU M BOZ 'PUP 7 . 4

1PSUBEB JOEE

1FSTPOFT

+VMJP .PMJOB TFDSFUBSJ EF MB $0/'"7$ i-FT BTTPDJBDJPOT EF WFÕOT IFN QBTTBU EF MB QSPUFTUB B MB QSPQPTUBw

EUF FO MB EFTFOWPMVQBNFOU &MT NJMMPST USBDUBNFOUT OP RVJSÞSHJDT QFS BM UFV DPT

&TQF $PTNÒU #BSDFMPOB .VOUBOFS #BSDFMPOB (SBO EF (SËDJB 7JD 3CMB EFM 1BTTFJH 4BCBEFMM "WEB #BSCFSË #YT .BOSFTB 1BTTFJH 1FSF ** 4UB $PMPNB (SBNFOFU 4BOU 3BNØO #BSDFMPOB (SBO EF 4BOU "OESFV

#BEBMPOB "WEB .BSUÓ 1VKPM .BUBSØ 4BOU +PTFQ #BSDFMPOB #BMNFT QSÛYJNB PCFSUVSB

4UZMBTFS 1 JOEE

B QSJNFSB TFTTJØ MJGUJOH GBDJBM r SFBGJSNBDJØ EF QJU r SFEVDDJØ EhBCEPNFO NFOU NVTDVMBS r GPUP SFKPWFOJNFOU r DFMrMVMJUJT r GPUPEFQJMBDJØ r FUD

&TQFDJBMJTUFT FO 'PUPEFQJMBDJØ USBDUBNFOUT DPSQPSBMT J GBDJBMT TNÒUJDB BWBOÎBEB 4UZMBTFS -B NJMMPS UFDOPMPHJB BM UFV BCBTU

XXX TUZMBTFS DPN

4UZMBTFS 1 JOEE

VXPDUL % FOUSBEB "DUVBMJUBU 1PMÓUJDB &TQPSUT 3FQPSUBUHF 1FSTPOFT 4FUNBOB FO *NBUHFT &TQBJ $ "HFOEB

$JOFNFT /PWFUBUT -B -MBS .FEJDJOB J 4BMVU /FDSPMÛHJRVFT $POTVMUPSJ -FHBM "OJNËMJB /JOT $BSUFT EFMT -FDUPST

'PUP %FOÞODJB *NNPCJMJËSJB (BTUSPOPNJB (VJB EF 4FSWFJT 5PU .PUPS 1BTTBUFNQT )PSÛTDPQT

$MBTTJm DBUT 5FOEÒODJFT 5FDOPMPHJB

)RWR DQWLJD

#BOEB EF UBNCPST J DPSOFUFT .PTTÒO "OUPO EVSBOU M BOZ 'PUP $FEJEB 7 . 4 5PUIPN RVF EFTJUHJ WFVSF QVCMJDBEB EF GPSNB HSBUVÕUB BMHVOB GPUPHSBm B TFWB BOUJHB EF #BEBMPOB .POUHBU J 5JBOB QPU GFS MFT BSSJCBS B MB OPTUSB SFEBDDJØ VCJDBEB B $ -MFØ O B #BEBMPOB

r XXX FMUPUEJHJUBM DPN CBEBMPOB!FMUPUEJHJUBM DPN &%*5" 4VCJSBUT 4VCJSBUT &EJUPST 4 - /*' # %*44&/: (3®'*$ * ."26&5"$*» . 4VCJSBUT - $BUBMÈO . -ØQF[ 4 7JMMÏO 3&%"$$*» . 4VCJSBUT $ $BSWBKBM $ 5PSOFSP (JOB EF 5FSB + (BSDÓB / 3JCØ "%.*/*453"$*» 9 4VCJSBUT " 4PSJBOP / 'FSSFS *.13*.&*9 -JUPHSBm B 3PTÏT %*1¾4*5 -&("- # 0'*$*/&4 $ -MFØ O B #BEBMPOB r CBEBMPOB!FMUPUEJHJUBM DPN r XXX FMUPUEJHJUBM DPN %JTUSJCVDJØ HSBUVÕUB B #BEBMPOB .POUHBU J 5JBOB 'B TBCFS RVF FEJUB MB SFWJTUB BNC QBQFS FDPMÛHJD TFHVJOU MFT OPSNBUJWFT FVSPQFFT WJHFOUT

QBH JOEE

-B SFEBDDJØ EF 3FWJTUFT FM 505 OP FT GB OFDFTTËSJBNFOU SFTQPOTBCMF EFM DPOUJOHVU EFMT BSUJDMFT PQJOJPOT J NJTT BUHFT DPNFSDJBMT DPNQSFTPT FO FM TFUNBOBSJ %hBDPSE BNC MB MFHJTMBDJØ WJHFOU FO NBUÒSJB EF QSPUFDDJØ EF MB DPNQFUÒODJB BRVFTUB FEJUPSJBM DPNVOJDB RVF RVFEB UFSNJOBOUNFOU QSPIJCJEB MB SFQSPEVDDJØ UPUBM P QBSDJBM EFMT BOVODJT BSUJDMFT JNBUHFT P DPMrMBCPSBDJPOT RVF BQBSFJYFO FO BRVFTUB QVCMJDBDJØ m OT J UPU DJUBOU MB TFWB QSPDFEÒODJB -hFNQSFTB FEJUPSB OP BDUVB DPN B NJUKBO DFSB FO MFT USBOTBDDJPOT RVF QVHVJO EFSJWBS TF EhBRVFTUB QVCMJDBDJØ OJ FT SFTQPOTBCJMJU[B EF MB WFSJDJUBU EF MB QSP DFEÒODJB EF MFT EBEFT GBDJMJUBEFT QFMT BOVODJBOUT

727 %DGDORQD

1MBOUJMMB#BTF JOEE

DFWXDOLWDW

G HQWUDGD

t - PSBUPSJ FT USPCB BM DBSSFS 4BOUJBHP EFM CBSSJ E "SUJHVFT / 3JCØ

&M 11 UPSOB B BUJBS MB QPMÒNJDB BNC VOB DBNQBOZB DPOUSB VO PSBUPSJ NVTVMNË "SUJHVFT t #BEBMPOB IB UPSOBU B PDVQBS BRVFTUT EJFT MFT QËHJ OFT DFOUSBMT EFMT EJBSJT EF UJSB EB OBDJPOBM * VOB WFHBEB NÏT IB FTUBU BSSBO E VOB DBNQBOZB EFM 11 DPOUSB M PCFSUVSB E VO PSBUPSJ B MB DJVUBU $PN KB WB QBTTBS BNC FM GBNØT %7% RVF SFMBDJPOBWB JNNJHSBDJØ BNC JOTFHVSFUBU MFT EFDMBSBDJPOT EFM MÓEFS EFM 11 9BWJFS (BSDÓB "MCJPM DPOUSB BRVFTU DFOUSF EF DVMUF IBO UPSOBU B PCSJS VOB GFSJEB RVF KB WB DBVTBS FTUSBMMT BMT EBSSFST DPNJDJT MPDBMT &M 11 BOVODJBWB BRVFTUB TFU NBOB RVF JOJDJBSJB VOB DBN QBOZB DPOUSB M PCFSUVSB E VO PSBUPSJ BM CBSSJ E "SUJHVFT 4F HPOT (BSDÓB "MCJPM BRVFTU DFOUSF EF DVMUF iÞOJDBNFOU DPOUSJCVJSJB B MB EFTWFSUFCSB DJØ E VOB [POB RVF KB FT USPCB NPMU EFHSBEBEBw J JNQMJDBSJB GFS E BRVFTU CBSSJ iVO HVFUP TFOTF TPMVDJØw &M MÓEFS QPQVMBS FODB SB IB BOBU NÏT FOMMË J IB EFDMB SBU RVF OP DSFV iRVF TJHVJ CP RVF B #BEBMPOB IJ IBHJ CBSSJT PO MB MMFOHVB QSFEPNJOBOU TJHVJ

%&OUSBEB JOEE

M ËSBCw 5PU J M BMMBV EF DSÓUJRVFT EFT EFV TFV QSPQJ QBSUJU MB QSFTJEFOUB "MÓDJB 4ÈODIF[ $B NBDIP IB EPOBU TVQPSU B MFT QBSBVMFT EF (BSDÓB "MCJPM J IB BGFHJU RVF iBRVÓ OP IJ DBCFN UPUTw FO SFMBDJØ BM GFOPNFO EF MB JNNJHSBDJØ

*$7 &6J" OP EFTDBSUB QPSUBS (BSDÓB "MCJPM B MB 'JTDBMJB -FT SFBDDJPOT QPMÓUJRVFT OP T IBO GFU FTQFSBS %FT EF M BMUSF QBS UJU B M PQPTJDJØ B #BEBMPOB *$7 &6J" OP FT EFTDBSUB QPSUBS FM DBT B MB 'JTDBMJB TJ FT EFUFSNJOB RVF QPU IBWFS VO EFMJDUF FO MFT EFDMBSBDJPOT EF (BSDÓB "M CJPM &M TFDSFUBSJ EF QPMÓUJDB NVOJDJQBM E *$7 J SFHJEPS EF #BEBMPOB .ËSJVT (BSDJB DSFV RVF FM 11 OPNÏT BDPO TFHVFJY i GPNFOUBS MB JOTF HVSFUBU BM CBSSJw J M IB BDVTBU E wJSSFTQPOTBCMFw QFS CVTDBS iMB GSBDUVSB TPDJBM FO CFOFmDJ QSPQJw -B UFOTJØ FOUSF 11 J *$7 &6J" FT WB EFJYBS OPUBS B MB UFSUÞMJB EF MB SËEJP MPDBM RVBO FM SFHJEPS FDPTPDJBMJTUB ®MFY .B×BT WB BEWPDBS QFS BÕMMBS FM 11 B M "KVOUBNFOU J WB BTTFHVSBS RVF GFS BRVFT U F T E F D M B S B D J P O T D P O U S B M PSBUPSJ ÏT EF iYFOÛGPCTw J EF iNBMOBTDVUTw &M SFHJEPS QPQVMBS .JRVFM +VSBEP WB

&M HPWFSO NVOJDJQBM BTTFHVSB RVF M PSBUPSJ TFSË NPMU QPTJUJV %FT EFM HPWFSO NVOJDJQBM FM SFHJEPS EF $JVUBEBOJB J $PO WJWÒODJB +PTFQ 1FSB $J6 IB DPOUSBSFTUBU MFT EFDMBSB DJPOT EFM 11 BTTFHVSBOU RVF M PSBUPSJ TFSË NPMU QPTJUJV QFS B MB DPIFTJØ TPDJBM KB RVF TFSË UBNCÏ VO DFOUSF DVMUVSBM * IB SFDPSEBU RVF T IB EFDJEJU PCSJS M PSBUPSJ BNC FM DPOTFOT EF UPUT FMT WFÕOT 1FSB JOTUB (BSDÓB "MCJPM B BDPTUBS TF B "SUJHVFT J 4BOU 3PD QFS DPOÒJYFS MB DP NVOJUBU ËSBC BCBOT EF GFS MFT DSÓUJRVFT J IB SFDBMDBU RVF FM OPV DFOUSF RVF T PCSJSË B MB QSJNBWFSB DPNQMFJY UPUT FMT SFRVJTJUT MFHBMT

727 %DGDORQD

DFWXDOLWDW

$BSMFT 5PSOFSP $BSMFT $BSWBKBM

t - FTQBJ UJOESË VOB DBQBDJUBU QFS B QFSTPOFT / 3JCØ

USVDBS FO EJSFDUF QFS UJUMMBS iE JNQSFTFOUBCMFw B .B×BT J MJ WB FU[JCBS RVF iNBMOBTDVU ÏT BDUVBS DPN FTUË BDUVBOUw 'JOBMNFOU .B×BT WB EFNB OBS EJTDVMQFT QFS MFT TFWFT EFDMBSBDJPOT &3$ DSFV RVF iB #BEBMPOB MB JOUPMFSËODJB ÏT TJOÛOJN EF 11w %FT E &3$ #BEBMPOB FM QSF TJEFOU MPDBM +PSEJ "MCBMBEF KP DSFV RVF M BDDJØ QPMÓUJDB EFM 11 ÏT iJOBDDFQUBCMF QFS YFOÛGPCBw J IB BGFHJU RVF i" #BEBMPOB MB JOUPMFSËODJB ÏT TJOÛOJN EF 11w &M QSFTJEFOU JOEFQFOEFOUJTUB IB SFDPSEBU RVF M BDUVBM PSEFOBOÎB EF DJ WJTNF HBSBOUFJY RVF OP QPEFO IBWFS NJTTBUHFT SBDJTUFT OJ YFOÛGPCT B MB WJB QÞCMJDB -B TFDSFUËSJB /BDJPOBM E &3$ EF +VTUÓDJB J *NNJHSBDJØ /ÞSJB $VFODB UBNCÏ WB RVBMJmDBS EF iMBNFOUBCMFw MB DBNQBO ZB EFM 11 QFS WPMFS iUSFODBS MB DPIFTJØ TPDJBM QFS SÒEJUT FMFDUPSBMT w - PSBUPSJ FOGSPOUB WFÕOT J FOUJUBUT CBEBMPOJOFT &O FMT QSÛYJNT EJFT ÏT QSFWJTU 727 %DGDORQD

%&OUSBEB JOEE

DFOUSF JTMËNJD BKVEJ B DBMNBS MB TJUVBDJØ % BMUSB CBOEB M FOUJUBU (FOU EF 4BOU 3PD IB DPNFOÎBU VOB DBNQBOZB EF SFDPMMJEB EF TJHOBUVSFT FO DPOUSB EFM OPV PSBUPSJ - FOUJUBU TFHPOT IBO EJU QÞCMJ DBNFOU UÏ iQPSw RVF T JOTUBMtMJ UBNCÏ VOB BMUSB NFTRVJUB BM CBSSJ EF 4BOU 3PD (FOU EF 4BOU 3PD FTQFSB SFDPMMJS EVSBOU FMT QSPQFST EJFT NÏT EF TJHOBUVSFT

RVF T PCSJ BM DBSSFS 4BOUJBHP EFM CBSSJ E "SUJHVFT FM DFOUSF JTMËNJD RVF EPOJ SFTQPTUB B VO JNQPS UBOU OPNCSF EF NVTVMNBOT QBL JTU BOFTPT RVF WJVFO B MB [POB 4 IB EF EFTUBDBS RVF B NÏT EF GFS MFT GVODJPOT E PSBUPSJ FM OPV MPDBM PGFSJSË DVSTPT EF DBUBMË J DBTUFMMË YFSSBEFT J UBMMFST &O BRVFTU TFOUJU FMT SFTQPO TBCMFT EF $BNÓ EF MB 1BV M FOUJUBU FODBSSFHBEB EF HFT UJPOBS FM DFOUSF SFMJHJØT IBO FYQMJDBU RVF WPMFO USFCBMMBS QFS GBDJMJUBS MB JOUFHSBDJØ EF DPNQBUSJPUFT OPVWJOHVUT &M TFDSFUBSJ HFOFSBM EF $BNÓ EF MB 1BV .VIBNNBE *RCBM BTTFHVSB RVF DBM BDPOTFHVJS RVF UPUT FMT QBLJTUBOFTPT TF TFOUJO UBNCÏ iCBEBMPOJOT DBUBMBOT J FTQBOZPMTw 1FS MB TFWB CBOEB FMT WFÕOT EFM CBSSJ DPOTJEFSFO RVF BNC MB TFWB PCFSUVSB T BDPOTFHVFJY VO CFOFGJDJ QFS B "SUJHVFT 4FHPOT IB FYQMJDBU FM QSFTJ EFOU EF M BTTPDJBDJØ EF WFÕOT ®OHFM 7FOESFMM BDUVBMNFOU MB DPOWJWÒODJB ÏT iDPNQMJDBEBw QFSRVÒ IJ IB VO HSVQ EF WFÕOT RVF TØO iSBDJTUFT QFS EFTDP OFJYFNFOUw 7FOESFMM FTQFSB RVF FM OPV

4PT 3BDJTNF UBNCÏ EFOVODJB M BDUJUVE EFM 1BSUJU 1PQVMBS /P OPNÏT FMT HSVQT NVOJDJ QBMT IBO WBMPSBU MB DBNQBOZB EFM 11 EFT EF 404 3BDJT NF EF $BUBMVOZB DPOTJEFSFO RVF FMT QPQVMBST NPTUSFO VO QPTJDJPOBNFOU SBDJTUB J RVF BUFNQUFO DPOUSB MB DPOWJ WÒODJB 404 3BDJTNF IB GFU VOB DSJEB BMT WFÕOT QPMÓUJDT J B MFT FOUJUBUT CBEBMPOJOFT B HBSBOUJS MB DPIFTJØ TPDJBM B MB DJVUBU -B QPSUBWFV EF M FOUJUBU *TBCFM .BSUÓOF[ IB FYQMJDBU B MB 3FWJTUB &M 5PU RVF iFMT QPQVMBST TFNQSF GBO BQPMPHJB EF MB YFOPGÛCJB BNC M ÞOJD PCKFDUJV EF HVBO ZBS WPUT w

DFWXDOLWDW

$BSMFT $BSWBKBM

- "KVOUBNFOU EF #BEBMPOB J FM $PSUF *OHMÏT BDPSEFO DPOTUSVJS VOT HSBOT NBHBU[FNT BM TPMBS EF $BO -MBNBT M "KVOUBNFOU QSPQ E VO NJMFS EF MMPDT EF USFCBMM FOUSF EJSFDUFT J JOEJSFDUFT &T QSFWFV RVF MB DPODMVTJØ EF UPU FM QSPDÏT RVF BSB T JOJDJB J QFS UBOU M PCFSUVSB EFMT HSBOT NBHBU[FNT USJHVJ RVBUSF P DJOD BOZT FO BSSJCBS /PNÏT MB DPOTUSVDDJØ EF M FEJmDJ SFRVFSJSË HBJSFCÏ USFT BOZT 3FDPSEFN RVF BM TPMBS EF $BO -MBNBT UBNCÏ UJOESË DBCVEB FMT OPVT KVUKBUT EF MB DJVUBU &MT $PNFSDJBOUT EF #BEBMPOB FO DPOUSB E BRVFTUB JNQMBUBODJØ &M QSFTJEFOU EF MB 'FEFSBDJØ EF $PNFSDJBOUT EFM $FOUSF +PB RVJN 4PMEFWJMB IB FYQMJDBU B MB 3FWJTUB &M 5PU RVF KB GB UFNQT RVF TF TBCJB RVF FM $PSUF *OHMÏT T JOTUBMtMBSJB BM TPMBS EF $BO -MBNBT iRVBO FT WB QVCMJDBS M BOZ RVF BRVFTUT HSBOT NBHBU[FNT T JOTUBMtMBSJFO B #BEBMPOB M "KVOUBNFOU IP WB OFHBS QÞCMJDBNFOU BSB T IB EFNPTUSBU RVF WBO EJS MB WFSJUBU w 4PMEFWJMB IB SFDPOFHVU RVF KB OP QPEFO GFS SFT J RVF T IBVSË E FTQFSBS B E BRVÓ B DJOD BOZT QFS WFVSF DPN FMT BGFDUB i&M $PSUF *OHMÏT BSSJCB FO FM NP NFOU NÏT EFMJDBU QFM DPNFSÎ EF MB OPTUSB DJVUBUw &M QSFTJEFOU EFMT DPNFSDJBOUT EFM $FOUSF IB UPSOBU B SFDPSEBS RVF #BEBMPOB KB FTUB TFSWJEB EF HSBOT TVQFS GÓDJFT DPNFSDJBMT

t " M BOUJD TPMBS EF $BO -MBNBT BOJSË FM $PSUF *OHMÏT J FMT OPVT KVUKBUT EF #BEBMPOB "SYJV

#BEBMPOB t 1PDT NFTPT EFT QSÏT E JOBVHVSBS FM DFOUSF DPNFSDJBM .ËHJD #BEBMPOB M "KVOUBNFOU EF MB DJVUBU IB BSSJCBU B VO BDPSE BNC FM $PS UF *OHMÏT QFS B MB DPOTUSVDDJØ E VOT HSBOT NBHBU[FNT &M OPV FRVJQBNFOU DPNFSDJBM TF TJUVB SË DPN KB TF TBCJB BMT BOUJDT UFSSFOZT EF MB GËCSJDB EF $BO -MBNBT B UPDBS EF M BVUPQJTUB RVF KB TØO QSPQJFUBU EFM HFHBOU FNQSFTBSJBM EFT EFM BOZ -B JOWFSTJØ RVF FM $PSUF *OHMÏT GBSË B #BEBMPOB TFHPOT FM DPO TJTUPSJ CBEBMPOÓ TFSË EF NÏT EF DFOU NJMJPOT E FVSPT " NÏT EFMT HSBOT NBHBU[FNT FT GBSBO EJ WFSTFT PCSFT E VSCBOJU[BDJØ QFS GBDJMJUBS MB TFWB DPOOFYJØ BNC FM

CBSSJ EF $PMM J 1VKPM J MB [POB QSP QFSB %VSBOU FMT QSÛYJNT NFTPT FT SFEBDUBSË VO 1MB EF .JMMPSB 6SCBOB EFM TFDUPS RVF DPO UFNQMBSË M FYFDVDJØ E BRVFTUFT PCSFT - BMDBMEF EF #BEBMPOB +PSEJ 4FSSB IB FYQMJDBU B MB 3FWJTUB &M 5PU RVF M BQPTUB RVF GB FM $PSUF *OHMÏT B MB DJVUBU FWJEFODJB MB TFWB QPUÒODJB TP DJPFDPOÛNJDB SFTQFDUF EFM TFV FOUPSO NÏT QSPQFS *HVBM RVF IB TVDDFÕU B BMUSFT QPCMBDJPOT PO T IB JNQMBOUBU MB mSNB FYQMJDB 4FSSB w M PCFSUVSB EFMT HSBOT NBHBU[FNT EPOBSË B #BEBMPOB VO HSBO WBMPS BGFHJU w " CBOEB EF MB JOWFSTJØ RVF FT GBSË B #B EBMPOB MB JNQMBOUBDJØ EFM $PSUF *OHMÏT HFOFSBSË TFHPOT FTUJNB

7DPEÉ ÉV QRWÍFLD -B $SFV 3PKB EFM #BSDFMP OÒT /PSE FTUSFOB XFC

- FOUJUBU WFÕOBM EFM (PSH FTUSFOB VO OPV QPSUBM B - FOUJUBU IB PCFSU M &TQBJ E &OMMBÎ JOUFSOFU

VO MMPD XFC RVF DSFB VO FTQBJ DPNÞ FO FM RVBM M PSHBOJU[BDJØ FT QPU DPNVOJDBS BNC TPDJT WPMVOUBSJT J FMT DJVUBEBOT &O BRVFTU QPSUBM $SFV 3PKB EFM #BSDFMPOÒT /PSE EJGPO MFT BD UJWJUBUT PO QPEFO QBSUJDJQBS FMT WPMVOUBSJT J UBNCÏ JOGPSNBDJØ TPCSF MFT TFWFT DBNQBOZFT < > DSFVSPKBCBSDFMPOFTOPSE PSH

"DUVBMJUBU JOEE

0CFSUFT MFT JOTDSJQDJPOT QFS B MFT /PDFT E 0S EF #BEBMPOB

- BTTPDJBDJØ EF WFÕOT EFM CBSSJ EFM (PSH .BS BDBCB E FTUSFOBS QËHJOB XFC - FOUJUBU IB QPTBU FO NBSYB BRVFTU QPSUBM PO T IJ QPU USPCBS OPUÓDJFT SFQPSUBUHFT TP CSF FM CBSSJ P DPOTVMUBS MFT BDUJWJ UBUT P FMT TFSWFJT EF M BTTPDJBDJØ 4 IB EF EFTUBDBS RVF FM QPSUBM JODMPV VO FTQBJ EFEJDBU B MFT GPUPHSBmFT EFM CBSSJ

-FT QBSFMMFT RVF BRVFTU BOZ DFMFCSJO FMT BOZT P NÏT EF DPOWJWÒODJB KB QPEFO JOTDSJVSF T B MB FEJDJØ EF MFT /PDFT E 0S RVF UJOESBO MMPD FM EJB EF NBJH BM 1BMBV 0MÓNQJD -FT QBSFMMFT RVF KB IBO QBSUJDJQBU FO BOZT BOUFSJPST SFCSBO VOB DBSUB QFS SFDPMMJS MB JOWJUBDJØ B MFT PmDJOFT EFM 7JWFS

727 %DGDORQD

1MBOUJMMB#BTF JOEE

727 %DGDORQD

DFWXDOLWDW

$BSMFT $BSWBKBM

%FNBOFO VOB BNQMJBDJØ E IPSBSJT EF MB CJCMJPUFDB EF $BO $BTBDVCFSUB CJCMJPUFDB DFOUSBM EF #BEBMPOB BNQMJÓ FMT TFVT IPSBSJT 4FHPOT IBO EFOVODJBU FMT EJMMVOT BM NBUJ FMT EJTTBCUF B MB UBSEB J FMT EJVNFOHFT MB CJCMJPUFDB OP PCSF J BM NJHEJB UBODB EV SBOU EVFT IPSFT &MT JNQVMTPST E BRVFTUB JOJDJBUJWB RVF QPSUB QFS UÓUPM i$BO $BTBDPCFSUBw QFOTFO FOHFHBS QSPQFSBNFOU VOB SFDPMMJEB EF TJHOBUVSFT QFS UBM EF EFNBOBS VOB BNQMJBDJØ E IPSBSJT 1FS MB TFWB CBOEB M "KVOUBNFOU EF #BEBMPOB IB FYQMJDBU B MB 3FWJTUB &M 5PU RVF OP UÏ QSFWJTU BNQMJBS FMT IPSBSJT E BRVFTUB CJCMJPUFDB

t 6O HSVQ E VTVBSJT EFNBOFO M BNQMJBDJØ EF $BO $BTBDVCFSUB

$FOUSF t 6O HSVQ EF CBEB MPOJOT FTUB FOHFHBOU VOB

DBNQBOZB B USBWÏT EFM QPSUBM TPDJBM 'BDFCPPL QFSRVÒ MB

$PSSFVT SFIBCJMJUBSË M FEJmDJ DFOUSBM EF $PSSFVT QFSÛ FMT TJOEJDBUT OP WPMFO USBTMMBEBS QBSU EFMT TFVT TFSWFJT BM DBSSFS 4BOU 3BNØO #BEBMPOB t &M TJOEJDBU EF DPSSFVT EF MB 6OJØ 4JOEJDBM 0CSFSB EF $BUBMVOZB IB EF OVODJBU MFT DPOEJDJPOT E VO OPV MPDBM EF $PSSFVT BM DBSSFS 4BOU 3BNPO EF #BEBMPOB KB RVF TFHPOT FYQMJRVFO M FTQBJ OP SFVOFJY MFT NÓOJNFT DPOEJ DJPOT EF TFHVSFUBU J IJHJFOF "RVFTU TJOEJDBU IB EFOVODJBU

RVF M FNQSFTB QÞCMJDB UFOJB QSFWJTU JOBVHVSBS FM QSPQFS EJB EF GFCSFS VOFT OPWFT PmDJOFT FO BRVFTU FTQBJ RVF OP SFVOFJYFO MFT NÓOJNFT DPO EJDJPOT EF TFHVSFUBU J TBMVU QFS BMT USFCBMMBEPST J VTVBSJT 4 IB EF EFTUBDBS RVF M FEJmDJ DFOUSBM EF $PSSFVT B MB QMBÎB "TTFNCMFB EF $BUBMVOZB FT

SFOPWBSË B QBSUJS EFM EF NBSÎ -FT PCSFT PCMJHBSBO B USBTMMB EBS UFNQPSBMNFOU UPUT FMT TFS WFJT B BMUSFT MPDBMT - BUFODJØ BM QÞCMJD FT GBSË EFT EF EPT MPDBMT TJUVBUT BMT DBSSFST %PD UPS 3PCFSU J FM EFOVODJBU QFMT TJOEJDBUT TJUVBU BM DBSSFS 4BOU 3BNPO $PSSFVT QSFWFV RVF MFT PCSFT EVSJO VO BOZ

-B 6OJWFSTJUBU "VUÛOPNB EF #BSDFMPOB QPTB DPN B NPEFM FNQSFTBSJBM #BEBMPOB $PNVOJDBDJØ

3ËEJP $JVUBU SFUSBOTNFU FO EJSFDUF MB HBMB EFMT 0TDBST

- FNQSFTB QÞCMJDB #BEBMPOB $P NVOJDBDJØ IB FTUBU TFMFDDJPOB EB DPN FNQSFTB EF SFGFSÒODJB FO M FTUVEJ i&MT HPWFSOT MPDBMT J MB $PNVOJDBDJØ &TUSBUÒHJDB &YQFSJÒODJFT J NPEFMTw SFBMJU[BU QFM -BCPSBUPSJ EF $PNVOJDBDJØ &TUSBUÒHJDB EF MB 6OJWFSTJUBU "VUÛOPNB EF #BSDFMPOB 6"# &O DPODSFU BQBSFJY FO M BQBSUBU EF UFMFWJTJØ QFS 5FMFWJTJØ #BEB MPOB QFS MB TFWB QSPHSBNBDJØ FTUBCMF J MB QSPGFTTJPOBMJUBU FOUSF BMUSFT BQBSUBUT

- FNJTTPSB EF #BEBMPOB USBOT NFU BRVFTU EJVNFOHF MB FEJDJØ EFMT 1SFNJT 0TDBST - FRVJQ EFM QSPHSBNB EF DJOFNB MB MJUFSOB NBHJDB TFSBO FMT FODB SSFHBUT EF GFS BSSJCBS B USBWÏT EF MFT POFT EF MB SËEJP MB DFSJNÛOJB FO EJSFDUF - FTQBJ DPNFOÎBSË B MFT EF MB OJU EF EJVNFOHF B EJMMVOT J FT QPESË FTDPMUBS B USBWÏT EFM ' . P B XXX SDC DBU - FRVJQ EFM QSPHSBNB IBO QSFQBSBU EJWFSTFT TPSQSFTFT EVSBOU BRVFTUB FNJTTJØ

7DPEÉ ÉV QRWÍFLD %FTBSUJDVMBU B #BEBMPOB J 4BOU "ESJË VO HSVQ RVF SPCBWB NFSDBEFSJFT EF DBNJPOT FO ËSFFT EF TFSWFJ -B 1PMJDJB /BDJPOBM IB EFTBS UJDVMBU B #BEBMPOB J 4BOU "ESJË VO HSVQ EFEJDBU BM SPCBUPSJ EF MFT NFSDBEFSJFT EF DBNJPOT FTUBDJPOBUT FO ËSFFT EF TFSWFJ E BVUPQJTUFT DBUBMBOFT BM RVBM TF MJ WBO JODBVUBS QSPEVDUFT WBMPSBUT FO VOT FVSPT &M HSVQ FTUBWB GPSNBU QFS USFT FTQBOZPMT EPT E FMMT BNC HSBO RVBOUJUBU E BOUFDFEFOUT J QSF TVNQUBNFOU WBO DPNFUSF RVB USF BTTBMUT

"DUVBMJUBU JOEE

727 %DGDORQD

6O CBEBMPOÓ SFDMBNB BKVEB QFS USFVSF #BEBMPOB SFQ EJOFST FM TFV HFSNË E VOB QSFTØ B M &RVBEPS QFS NJMMPSBS MB #BEBMPOB t &M CBEBMPOÓ +PB RVJO $PMMBEB OFDFTTJUB SFVOJS NÏT EF FVSPT QFS USFVSF FM TFV HFSNË EF MB QSFTØ B &RVBEPS PO FTUË SFDMÛT EFT QSÏT RVF MB QPMJDJB MJ USPCÏT LH EF DPDBÕOB B MB TFWB NB MFUB RVBO UPSOBWB B #BEBMPOB $PMMBEB EFGFOTB MB JOOPDÒODJB EFM TFV HFSNË RVF BTTFHVSB RVF WB NBSYBS BM QBÓT TVEBNF SJDË QFS CVTDBS GFJOB 4FHPOT BRVFTU CBEBMPOÓ FM TFV HFSNË IB FTUBU WÓDUJNB E VO FOHBOZ

JOUFHSBDJØ EFMT OPVWJOHVUT

J BMHÞ IB DPMtMPDBU FMT LH EF DPDBÕOB B MB TFWB NBMFUB QFS JODSJNJOBS MP $PMMBEB EFNBOB BNC VSHÒODJB USFVSF FM TFV HFS NË EF MB QSFTØ KB RVF TFHPOT FYQMJDB UBNCÏ FTUË SFCFOU UPSUVSFT QFS QBSU EFMT WJHJMBOUT J EF MB SFTUB EF QSFTPT $PMMBEB JOUFOUB QPTBS TF FO DPOUBDUF BNC FM NJOJTUFSJ E "TTVNQUFT &YUFSJPST &TQBOZPM QFSÛ B M FTQFSB E VO KVEJDJ OFDFTTJUB QBHBS FMT TFSWFJT E VO BEWPDBU RVF EFGFOTJ FM TFV HFSNË

t #BEBMPOB SFCSË BRVFTUB TVCWFODJØ EFEJDBEB B MB JOUFHSBDJØ

-B SFQBSBDJØ EFMT EFTQFSGFDUFT DBVTBUT FO EJWFSTFT JOTUBMtMBDJPOT NVOJDJQBMT QFM UFNQPSBM EF WFOU DPTUBSË HBJSFCÏ FVSPT

t &TDPMB 4BMWBEPS &TQSJV VOB EF MFT BGFDUBEFT QFM UFNQPSBM EF WFOU

#BEBMPOB t &M DPOTJTUPSJ CBEB MPOÓ FTUB SFQBSBOU MFT EJGFSFOUT JOTUBMtMBDJPOT NVOJDJQBMT RVF

DFWXDOLWDW

$POTVMUB UPUB MhBDUVBMJUBU B XXX FMUPUEJHJUBM DPN

#BEBMPOB t -B %JSFDDJØ (F OFSBM E *OUFHSBDJØ EFMT *NNJ HSBOUT EFM .JOJTUFSJ EF 5SFCBMM J *NNJHSBDJØ IB DPODFEJU B MB DJVUBU EF #BEBMPOB BKVEFT QFS WBMPS EF FVSPT QFS B FYFDVUBS QSPHSBNFT JO OPWBEPST B GBWPS EF MB JOUFHSB DJØ EF MB QPCMBDJØ JNNJHSBOU 4 IB EF EFTUBDBS RVF UBNCÏ T IB UJOHVU FO DPNQUF RVF FMT QSPHSBNFT E JOUFSWFODJØ TPDJBM FT EJSJHFJYJO B CBSSJT P [POFT BNC VO BMU ÓOEFY EF QP CMBDJØ JNNJHSBOU J RVF IBHJO FTUBU PSJFOUBUT B MB QSFWFODJØ J FM USBDUBNFOU EF TJUVBDJPOT EF SJTD EF TFHSFHBDJØ VSCBOB 5BNCÏ T IB UJOHVU FO DPNQUF MFT JOJDJBUJWFT RVF QSFWFOFO MB YFOPGÛCJB J FM SBDJTNF

WBO SFTVMUBS BGFDUBEFT QFM UFN QPSBM EF WFOU EF mOBMT EF HF OFS &T USBDUB EF BDUVBDJPOT FM DPTU EF MFT RVBMT TVNFO VO JNQPSU EF HBJSFCÏ FVSPT -FT SFQBSBDJPOT NÏT EFTUBDBEFT TØO MB TVCTUJUVDJØ EF MB UPUBMJUBU EF MB DPCFSUB EF M FTDPMB 4BMWBEPS &TQSJV MB TVCTUJUVDJØ EF MB NËRVJOB E BJSF DPOEJDJPOBU BSSFODBEB QFM WFOU BM QBWFMMØ EF MB 1MBOB P MB SFQBSBDJØ EFM NVS EFM DBNQ EF GVUCPM EF 4BOU 3PD FOUSF E BMUSFT

7DPEÉ ÉV QRWÍFLD .POUHBU FTUSFOBSË VO DFOUSF E BDPMMJEB QFS B HBUT - "TTPDJBDJØ QFM #FOFTUBS EFMT "OJNBMT EF .POUHBU M "#". FTUSFOBSË FO CSFV VO DFOUSF EF SFDPMMJEB EF HBUT BM 1BSD EF MFT #BUFSJFT -B JOTUBMtMBDJØ FTUBSË DPCFSUB J DPOTUBSË EF QSPV FTQBJ QFS BDPMMJS DPN B NÓOJN VOB EFT FOB E FYFNQMBST EJTUSJCVÕUT FO EJGFSFOUT QBSDFMtMFT UBO DBEFT J WJHJMBEFT 727 %DGDORQD

"DUVBMJUBU JOEE

.POUHBU WPM QSFWFOJS M PCFTJUBU JOGBOUJM B USBWÏT EF MFT FTDPMFT

5BMMFS EF DPDB EF MMBSEPOT B MB 4BSHBOUBOB

.POUHBU T IB BEIFSJU BM QSPHSB NB OBDJPOBM EF TBMVU JOGBOUJM 5IBP VOB JOJDJBUJWB EF QSFWFO DJØ JOGBOUJM RVF T IB JNQMBOUBU B NÏT EF DJVUBUT EF M &TUBU -B DBNQBOZB FT DPNFOÎBSË B BQMJDBS FM QSPQFS NFT EF NBSÎ B MFT FTDPMFT .BSJOB J BM $&*1 4BMWBEPS &TQSJV &M QSPHSBNB 5IBP QFSNFUSË TFHVJS M FWPMVDJØ EFMT BMVNOFT E BRVFTUT DFOUSFT J FWJUBS M PCFTJUBU JOGBOUJM

"RVFTU EJTTBCUF E B I UJOESË MMPD FM UBMMFS JOGBO UJM A'FN MB DPDB EF MMBSEPOT 4FHVJOU FM DBMFOEBSJ EF GFTUFT QPQVMBST -B 4BSHBOUBOB TJ UVBEB BM DBSSFS 4BOU 4FCBTUJB WPM BDPTUBS BMT OFOT J OFOFT BMHVOFT EF MFT USBEJDJPOT HBT USPOÛNJRVFT EFM QBÓT &M UBMMFS DPTUB FVSPT FTUË EJSJHJU B OFOT J OFOFT EF B BOZT J DBM SFTFSWB QSÒWJB

RSLQLÓ

DPE YHX SUÒSLD 4JFOUP WFSHàFO[B EF MPT RVF QJTPUFBO FM OPNCSF EF #BEBMPOB HSVQP EF 'BDFCPPL

-MFOHàFT B #BEBMPOB UPSOFN IJ 0SJPM -MBEØ CMPDT NFTWJMBXFC DBU BMCVNEFSFUBMMT PSJPMMMBEP DBU

&O +BORVJN VO EFMT CMPHHFST NÏT JOUFSFTTBOUT EFM QBÓT IB USFODBU BRVFTUB TFUNBOB VO DPTUVN SFHVMBS OPSNB UËDJUB FO FM TFV FTQBJ B MB YBS YB OP QBSMBS EF #BEBMPOB MB DJVUBU PO WJV 6OB GSBTF EF M JODPNCVTUJCMF 9BWJ (BSDJB "MCJPM MÓEFS EFM 1BSUJU 1PQVMBS B MB DJVUBU M IB FNQÒT TFHPOT DPOGFTTB B QVCMJDBS VO FTDSJU BNC FM UÓUPM 2VBO T BUBDB VOB MMFOHVB T BUBRVFO UPUFT KBORVJN CMPHTQPU DPN UPUB VOB EFDMBSBDJØ E JOUFODJPOT $PN ÏT UBNCÏ VOB EFDMBSBDJØ E JOUFODJPOT MB GSBTF EFM SFHJEPS DPOTFSWBEPS i/P DSFP RVF TFB CVFOP RVF FO #BEBMPOB IBZB CBSSJPT EPOEF MB MFOHVB QSFEPNJOBOUF TFB FM ÈSBCFw 6OB J BMUSB GSBTF MB EF +BORVJN J MB EF (BSDJB "MCJPM SFnFD UFJYFO EVFT WJTJPOT EFM NØO NPMU EJGFSFOUT VOB FOT TVCSBUMMB MB MMFOHVB DPN B DBQJUBM MB MMFOHVB DPN VO TJTUFNB EF DPOFJYFNFOU J DPNVOJDBDJØ J RVF ÏT VO WBMPS DPNQBSUJU RVF ÏT VO WBMPS DPNÞ RVBO T BUBDB VOB MMFOHVB T BUBRVFO UPUFT QFS UBOU -B TFHPOB GSBTF SFNBSDB MB MMFOHVB DPN B GSPOUFSB DPN B FYDVTB J DPN BSNB FMFDUPSBM P VOB DPTB QJUKPS TFHVSBNFOU (BSDJB "MCJPM NBOUÏ FO FYDFQDJPOBM CPOB TBMVU FM TFV QFSWFST PQPSUVOJTNF TFNQSF CFO OFU E FTDSÞQPMT * UPSOB B GFS EJBOB QFSRVÒ MFT TFWFT QBSBVMFT ADPOOFD UFO BNC MFT QFSTPOFT QFSTPOFT EF ESFUFT J E FTRVFSSFT DBUBMBOJTUFT J FTQBOZPMJTUFT RVF OP IBO BDBCBU EF GFS TF BNC MB JEFB RVF MFT OPTUSFT DJVUBUT IBO DBOWJBU RVF MFT OPTUSFT DJVUBUT FTUBO DBOWJBOU EF GFU BWVJ NBUFJY J RVF OP ÏT QPTTJCMF UPSOBS BMT FOZPSBUT QBJTBUHFT EFM ARVBMTFWPM UFNQT QBTTBU WB TFS NJMMPS -B MMFOHVB MFT MMFOHàFT TØO M JOTUSVNFOU EFM RVBM FOT QPEFN EPUBS QFS DPOEVJS DÓWJDBNFOU BRVFTU QSPDÏT EF USBOTGPSNBDJØ 2VF OP FOT DPOGPOHVJ FO (BSDJB "MCJPM 1FSÛ DBM FYQMJDBS IP NÏT J NJMMPS 5FOJN NPMUB GFJOB B GFS MB UFOFO FMT QPMÓUJDT J MB UFOJN DPN B QBSU E BRVFTUB JOUBOHJCMF QFSÛ CFO SFBM TPDJFUBU DJWJM &M EFCBU FODFUBU QFS +BORVJN IB UJOHVU VOB JOUFSFTTBOU J OFDFTTËSJB SFTQPTUB FO GPSNB EF DPNFOUBSJ EFM SFHJEPS +PTFQ 1FSB EF MB RVBM VT FO TFMFDDJPOP VO GSBHNFOU i-B QPMÓUJDB BCBOT RVF SFTQPTUFT J QBSBVMFT ÏT BDDJØ * SFTQPOESF B QBSBVMFT BCTVSEFT BNC VO UP JOEJHOBU QPU EPOBS NÏT OPUPSJFUBU BMT EFNBHPHT RVF MFT QSPNPVFO J TFS VO ÒYJU QFS B FMMT -B iCB UBMMBw QPMÓUJDB OP ÏT MB EF MFT OPUÓDJFT EFMT NJUKBOT TJOØ MB EF M BDDJØ RVF BRVFTUB TFHPOB TJ RVF USBOTGPSNB MB SFBMJUBU FO VO TFOUJU P VO BMUSFw "M NFV CMPD CMPDT NFTWJMBXFC DBU BMCVNEFSFUBMMT QPEFV DPOUJOVBS MMFHJOU MFT QBSBVMFT EFM SFHJEPS EF $JVUBEBOJB J $POWJWÒODJB

0QJOJP JOEE

-PSFO[P .FSDIÈO MPSFO[PNFSDIBOHPO[BMF[ CMPHTQPU DPN

9BWJFS (BSDÓB "MCJPM QSFTJEFOUF EFM 1BSUJEP 1PQVMBS EF #BEBMPOB #BSDFMPOB WVFMWF B MB DBSHB BUJ[BOEP MBT MMBNBT EF MB DPOGSPOUBDJØO TPDJBM FO VO OVFWP JOUFOUP EF QSPNPDJPOBSTF QPMÓUJDBNFOUF FO TV QBSUJEP B DPTUB EF VO UFNB UBO TFOTJCMF DPNP MB BQFSUVSB EF VO PSBUPSJP NVTVMNÈO FO FM CBSSJP EF "SUJHVFT 1SJNFSP GVF MB DBNQB×B EF SFDPQJMBDJØO EF mSNBT QBSB JNQFEJS MB BQFSUVSB EF VOB NF[RVJUB FO TVFMP QÞCMJDP 1PTUFSJPSNFOUF QSFTFOUØ FO TPDJFEBE VO WÓEFP SFQPSUBKF TPCSF MPT FGFDUPT EF MB JONJHSBDJØO JMFHBM Z BIPSB FM FUFSOP DBOEJEBUP BVUPSJ[BEP QPS TV QBSUJEP DJFSSB MB USJMPHÓB DPO VOB OVFWB FOUSFHB QBSB FWJUBS MB BQFSUVSB EF VO PSBUP SJP NVTVMNÈO &O VO DPNVOJDBEP (BSDÓB "MCJPM TF PQPOF FO FTUB PDBTJØO B MB DPOTUSVDDJØO EF VOB NF[RVJUB FO FM CBSSJP EF "SUJHVFT BM DPOTJEFSBS RVF FTUP JNQMJDBSÓB IBDFS EF FTB [POB Z EF 4BOU 3PD iVO HVFUP TJO TPMVDJØOw BTFHVSBOEP RVF FTUB NF[RVJUB iÞOJDBNFOUF DPOUSJCVJSÓB B EFTWFSUFCSBS VOB [POB RVF ZB TF FODVFOUSB NVZ EFHSBEBEBw Z B×BEJFOEP RVF NVDIPT WFDJOPT TF FTUÈO NBSDIBOEP EFM CBSSJP Z RVF MPT RVF OP MP IBDFO FT QPSRVF OP QVFEFO QBSB BmSNBS B DPOUJOVBDJØO RVF EF BCSJSTF FTUP DPOUSJCVJSÓB B RVF VOB QBSUF EF #BEBMPOB iRVFEF SPUB Z TFQBSBEB EFM SFTUP EF MB DJVEBE FO GVODJØO EF PSÓHFOFT ÏUOJDPT SFMJHJPTPT P DVMUVSBMFTw BMHP RVF DBMJmDØ EF iJSSFTQPOTBCJMJEBEw 1FSP {RVÏ FOUJFOEF 9BWJFS (BSDÓB "MCJPM QPS SFTQPOTBCJMJEBE $POGVOEJS B MB PQJOJØO QÞCMJDB EJDJFOEP RVF TF PQPOF B VOB NF[RVJUB DVBOEP SFBMNFOUF TF USBUB EF VO PSBUPSJP DPO VOBT FTQFDJmDBDJPOFT MFHBMFT DPNQMFUBNFOUF EJTUJOUBT {FT SFTQPOTBCMF 0DVMUBS RVF EJDIP PSBUPSJP DVNQMF UPEPT MPT SFRVJTJ UPT MFHBMFT QBSB TV BQFSUVSB {FT SFTQPOTBCMF 1POFS UPEBT MBT USBCBT QBSB FKFSDFS FM %FSFDIP BM $VMUP BSHVNFOUBOEP RVF DPO FMMP TF QSPUFHF BM CBSSJP EF TV EFTWFSUFCSBDJØO {FT SFTQPOTBCMF 4JMFODJBS RVF MPT NÈYJNPT SFQSFTFOUBOUFT EF MBT "TPDJBDJPOFT EF 7FDJOPT EF "SUJHVFT Z 4BOU 3PD OP TØMP TPO QBSUJEBSJPT B MB BQFSUVSB EFM PSBUPSJP TJOP RVF BEFNÈT IBO QBSUJDJQBEP BDUJWBNFOUF FO MBT EJGFSFOUFT GBTFT EFM QSPZFDUP {FT SFTQPOTBCMF 1JTPUFBS MPT FTGVFS[PT JOEJWJEVBMFT Z DPMFDUJWPT EF UPEBT MBT QFSTPOBT RVF FO MPT ÞMUJNPT NFTFT IBO DPOUSJCVJEP B RVF MB [POB IBZB BMDBO[BEP VOB OP UBCMF NFKPSÓB TPCSF UPEP FO MP RVF B MB DPOWJWFODJB TF SFmFSF {FT SFTQPOTBCMF 4J DSFFT RVF MB QPMÓUJDB EF 9BWJFS (BSDÓB "MCJPM FO SFQSFTFOUBDJØO EFM 1BSUJEP 1PQVMBS DPOUSJCVZF BM EFTQSFTUJHJP TPDJBM Z FDPOØNJDP EF #BEBMPOB Z GP NFOUB MB YFOPGPCJB Z MB DPOGSPOUBDJØO TPDJBM B USBWÏT EFM FOHB×P Z MB NBOJQVMBDJØO JOGPSNBUJWB DPO FM ÞOJDP PCKFUJWP EF SFOUBCJMJ[BS FM WPUP Z NFESBS FO TV QBSUJEP ÞOFUF B FTUF HSVQP B USBWÏT EF 'BDFCPPL

727 %DGDORQD

1MBOUJMMB#BTF JOEE

DFWXDOLWDW

3ROÍWLFD 1MBUBGPSNB QFS $BUBMVOZB BUFSSB B #BEBMPOB IBVSJB QPTBU FO NBSYB VOB DPPSEJOBEPSB FODBSSFHBEB E PSHBOJU[BS BDUFT QFS B MB DBN QBOZB EF MFT FMFDDJPOT BVUPOÛ NJRVFT J NVOJDJQBMT J OP EFT DBSUB NPCJMJU[BDJPOT FO DPOUSB EF M PSBUPSJ EFM CBSSJ E "SUJHBT &M QSFTJEFOU EF MB 1MBUBGPSNB QFS $BUBMVOZB +PTFQ "OHMBEB DSFV RVF iFMT DPOGMJDUFT QFS M BMMBV E JNNJHSBDJØw GBO EF #B EBMPOB VOB DJVUBU RVF FODBJYB QFSGFDUBNFOU BNC FM UBSBOOË EFM QBSUJU "OHMBEB UBNCÏ IB GFU SFGFSÒODJB B MB QPMÓUJDB EFM 11 EF RVJ DPOTJEFSB RVF OP FTUË GFOU SFT UPU J DPNQUBS BNC SFHJEPST B M "KVOUBNFOU EF #BEBMPOB %F NPNFOU MFT ".1&4 OP IBO EVCUBU FO EFOVODJBS MB TJ UVBDJØ J IBO DPOEFNOBU M BDUJUVE iYFOÛGPCBw EFM QBSUJU B RVJ BDV TFO E FOGSPOUBS MB TPDJFUBU DJWJM BNC VO UFNB DPN MB JNNJHSB DJØ QFS USFVSF WPUT &O BRVFTU TFOUJU FM MÓEFS EF MB 1MBUBGPSNB QFS $BUBMVOZB +PTFQ "OHMBEB PQJOB RVF iMFT FTDPMFT FTUBO NBOJQVMBEFT J DPOUSPMBEFT QFS M "KVOUBNFOUw J SFJUFSB RVF IBO SFCVU SFTQPTUB E BMHVOT QBSFT BM DPSSFV RVF WBO FOWJBS

t +PTFQ "OHMBEB BTTFHVSB RVF FM TFV QBSUJU FT QSFTFOUBSË B MFT FMFDDJPOT NVOJDJQBMT EF

-B 1MBUBGPSNB QFS $BUBMVOZB MB GPSNBDJØ QPMÓUJDB E VMUSBESFUB BOVODJB MB TFWB BSSJCBEB B #B EBMPOB TFHPOT IB QVCMJDBU FM EJBSJ &M 1VOU "RVFTUB GPSNB DJØ UÏ SFHJEPST B MPDBMJUBUT DBUBMBOFT J ÏT MB TFHPOB GPSÎB QPMÓUJDB B 7JD &M TFV EJTDVST FT TPTUÏ CËTJDBNFOU FO VO DPOUSPM NÏT SJHPSØT EF MB JNNJHSBDJØ %F GFU MB GPSNBDJØ KB T IB QP TBU FO DPOUBDUF BNC BMHVOFT BTTPDJBDJPOT EF QBSFT J NBSFT E FTDPMFT EF #BEBMPOB QFS FT DPMUBS MFT TFWFT JORVJFUVET EB WBOU iMB JOWBTJØ JNNJHSBOUTw RVF iEFHSBEBw BMHVOT CBSSJT EF #B EBMPOB 4ØO QBSBVMFT EF $BSMFT

'SBODJTPVE BVUPS EFM DPSSFV FMFDUSÛOJD RVF IB GFU BSSJCBS B ".1&4 J FTDPMFT J RVF NJMJUB B 1MBUBGPSNB QFS $BUBMVOZB 'SBODJTPVE WB TFS EFUJOHVU B mOBMT EFMT BOZT WVJUBOUB QFS MB TFWB SFMBDJØ BNC FM HSVQ GFJYJT UB .JMÓDJB $BUBMBOB RVF IBWJB BUFNQUBU FO PDBTJPOT DPOUSB QBSUJUT J BTTPDJBDJPOT JOEFQFO EFOUJTUFT 4FHPOT 'SBODJTPVE IBO SFCVU RVFJYFT EF DJVUBEBOT EF #BEBMPOB J 4BOU "ESJË FO SFGFSÒODJB BMT iQSPCMFNFT DBV TBUT QFS BMVNOFT JNNJHSBOUTw "RVFTU TFSJB VO QSJNFS QBT EF MB GPSNBDJØ QFS BTTFOUBS TF B #BEBMPOB J EF GFU FM QBSUJU KB

+PSEJ 4FSSB TF TVNB BM 1BDUF E "MDBMEFT DPOUSB FM DBOWJ DMJNËUJD - BMDBMEF EF #BEBMPOB FM TP DJBMJTUB +PSEJ 4FSSB IB WJBUKBU BRVFTUB TFUNBOB QBTTBEB B #SVTTFMtMFT QFS TJHOBS FM QBDUF E BMDBMEFT J BMDBMEFTTFT DPOUSB FM DBOWJ DMJNËUJD )P IB GFU KVOUBNFOU BNC NÏT EF BKVOUBNFOUT FVSPQFVT J DPJODJEJOU BNC MB TFUNBOB FVSPQFB EFEJDBEB B M FOFSHJB TPTUFOJCMF -B EFMFHBDJØ IB FTUBU FODBQÎBMBEB QFM EJQVUBU EF .FEJ "NCJFOU EF MB %JQVUB DJØ EF #BSDFMPOB +PBO "OUPOJ #BSPO - PCKFDUJV EFM QBDUF ÏT FM EF SFEVJS VO MFT FNJT TJPOT EF HBTPT BNC FGFDUF IJWFSOBDMF NJUKBOÎBOU VOB NJMMPSB EFM FO M FmDJÒODJB

1PMÓUJDB JOEE

BM 1BSMBNFOU &VSPQFV 3BàM 3PNFWB IB WJTJUBU #BEBMPOB QFS FYQMJDBS MB JNQPSUËODJB EF TFS QSFTFOUT B &VSPQB QFSRVÒ iNPMUFT EF MFT QPMÓ UJRVFT RVF FT NBSRVFO EFT EFM 1BSMBNFOU &VSPQFV UFOFO VOB SFQFSDVTTJØ NPMU EJSFDUB FO M ËNCJU MPDBMw 3PNFWB WB QPTBS DPN B FYFNQMF FM 1BDUF E "MDBMEFT P MB EJSFDUJWB RVF FT WPMJB QSPNPVSF TPCSF MFT IPSFT EF KPSOBEB MBCPSBM &O BRVFTU TFOUJU 3PNFWB WB JOTUBS B USFODBS BNC FM CJQBSUJEJTNF E &VSPQB iQFS RVÒ MB NBKPSJB EF SFTPMVDJPOT BDBCFO BNC VO DPOUJOHVU DFOUSFESFUËw

FOFSHÒUJDT J VO JODSFNFOU EFM FO M ÞT E FOFSHJFT SFOPWBCMFT - BMDBMEF 4FSSB IB BEPQUBU FM DPNQSPNÓT EF SFEVJS MFT FNJTTJPOT EF EJÛYJE EF DBSCPOJ B #BEBMPOB QFS BM UPU J RVF IB FYQMJDBU RVF MB DJVUBU KB USFCBMMB FO MB TPTUFOJCJMJUBU B USBWÏT QFS FYFNQMF EF MB JOTUBMtMBDJØ EF QMBRVFT TPMBST FO FMT FEJmDJT NVOJDJQBMT 3BàM 3PNFWB SFDPSEB B #BEBMPOB MB JNQPSUËODJB EF MFT QPMÓUJRVFT FVSPQFFT "RVFTU EJTTBCUF QBTTBU FM DBOEJEBU E *$7 B MFT FMFDDJPOT

727 %DGDORQD

-B DPNVOJUBU FEVDBUJWB EF #BEBMPOB FT DPODFOUSB DPOUSB FM DPOTFMMFS .BSBHBMM MMJVSBU VOB DBSUB B M BMDBMEF +PSEJ 4FSSB BNC MFT TFWFT SFJWJOEJDBDJPOT &OUSF MFT RVFJYFT FT USPCB MB EFDJTJØ EFM %FQBSUBNFOU E &EVDBDJØ E PGFSJS EF NBOFSB WPMVOUËSJB BMT QSPGFTTPST MB QPTTJCJMJ UBU E JODSFNFOUBS MFT IPSFT MFDUJWFT J FM OPV DBMFOEBSJ FTDPMBS RVF QSPQPTB JOJDJBS FM DVST VOB TFUNBOB BCBOT BM TFUFNCSF )FN EF SFDPSEBS B NÏT FMT QSPCMFNFT BNC MB NBTTJGJDBDJØ E BVMFT RVF WB QBUJS MB DJVUBU B QSJODJQJT E BRVFTU DVST %F NPNFOU T IB DPOWPDBU VOB WBHB EF DB SB BM QSPQFS EF NBSÎ QFS GFS TFOUJS MB TFWB WFV J SFDMBNBS BM DPOTFMMFS &SOFTU .BSBHBMM RVF FTDPMUJ MFT TFWFT QSPQPTUFT B MB GVUVSB MMFJ EF M FEVDBDJØ %FT EF MB (FOFSBMJUBU T IB FYQMJDBU RVF DPOUJOVFO MFT OF HPDJBDJPOT BNC FMT TJOEJDBUT QFS UBM E BSSJCBS B VO BDPSE

t JNBUHF EF MB NBOJGFTUBDJØ EF EJKPVT B MB 1MBÎB EF MB 7JMB EF #BEBMPOB

.ÏT EF NFNCSFT EF MB DP NVOJUBU FEVDBUJWB T IBO DPO DFOUSBU BRVFTU EJKPVT QBTTBU B MB 1MBÎB EF MB 7JMB EF #BEBMP OB QFS GFS TFOUJS FM TFV SFCVJH

DFWXDOLWDW

$BSMFT 5PSOFSP

DPOUSB MB QPMÓUJDB E FEVDBDJØ RVF FTUË GFOU FM DPOTFMMFS &SOFTU .BSBHBMM /P IJ IBO GBMUBU FMT TJOEJDBUT NBKPSJUBSJT EF M FOTFOZBNFOU RVF IBO

*$7 &6J" JOTUB B GFS FM NBUFJY RVF B 4BOU #PJ J BCBJYBS MFT UBYFT NVOJDJQBMT *$7 &6J" IB FOWJBU VOB DBSUB BM SFHJEPS E )JTFOEB 3FDVSTPT *OUFOT J 1SPNPDJØ &DPOÛNJDB 'SBODFTD 4FSSBOP QFS EFNB OBS RVF FT QSFOHVJO NFTVSFT EBWBOU MB DSJTJ FDPOÛNJDB J BCBJYBS MFT UBYFT NVOJDJQBMT BEFRVBOU MFT B M BDUVBM *1$ ²T FM RVF IB GFU M "KVOUBNFOU EF 4BOU #PJ RVF IB SFCBJYBU EFM B M M JODSFNFOU E BRVFTUFT UBYFT 4FHPOT FM

EFMT ESFUT GVOFSBSJT RVF TF TVCWFODJPOJ FM EFM SFCVU EF M *#* B MFT GBNÓMJFT FO BUVS J FM EFM SFCVU EF M *NQPTU EF 7FIJDMFT EF 5SBDDJØ .FDËOJDB EFMT BVUÛOPNT -B GPSNBDJØ FDPTPDJBMJTUB UBNCÏ SFDMBNB BKVEFT B MFT FNQSFTFT QFS GPNFOUBS MB DPOUSBDUBDJØ J RVF MFT UBYFT EF HVBM J SFTFSWB E BQBSDBNFOU T BQVHJO TFHPOT M *1$ BDUVBM

QSFTJEFOU EFM HSVQ NVOJDJQBM E *$7 &6J" B M "KVOUBNFOU EF #BEBMPOB $BSMFT 4BHVÏT MB JOJDJBUJWB EF 4BOU #PJ iEFNPT USB RVF ÏT QPTTJCMF GFS VOB BMUSB BQSPWBDJØ EF MFT PSEFOBODFT GJTDBMT UBM J DPN IBO SFDMB NBU MFT PSHBOJU[BDJPOT WFÕOBMT E BSSFV EF $BUBMVOZBw 4BHVÏT SFDMBNB UBNCÏ RVF T BKPSOJ EF NBOFSB FYUSBPSEJOËSJB FM QBHBNFOU EF MFT DPODFTTJPOT

61Z% FT EFTQMFHB BM #BSDFMPOÒT /PSE &M QBSUJU EF 3PTB %ÓF[ 6OJØO 1SPHSFTP Z %FNPDSBDJB IB DPOTUJUVÕU FM $PNJUÒ -PDBM EFM QBSUJU RVF BDUVBSË B #B EBMPOB 4BOUB $PMPNB EF (SBNFOFU J 4BOU "ESJË -B DPPSEJOBEPSB MPDBM FTUË GPS NBEB QFS 3BNØO $BSS JØO DPN B NËYJN SFQSFTFOUBOU 3PTB .BESJE DPN QPSUBWFV 'SBODJTDP 3VJ[ DPN B SFTQPO 727 %DGDORQD

1PMÓUJDB JOEE

TBCMF E PSHBOJU[BDJØ J .JHVFM «OHFM 1BSEP DPN B TFDSFUBSJ "MHVOT E BRVFTUT NFNCSFT KB UFOFO FYQFSJÒODJB QPMÓUJDB KB RVF IBWJFO GPSNBU QBSU EFM 1BSUJU EFMT $JVUBEBOT BCBOT RVF 61Z% FOUSÏT B M FTDFOB QPMÓUJDB J RVF $ T JOJDJÏT VO QSPDÏT EF EJWJTJØ JOUFSOB -B JOUFODJØ EF MB GPSNBDJØ ÏT PSHBOJU[BS TF JOUFSOBNFOU

QFS QSFTFOUBS TF B MFT FMFD DJPOT MPDBMT EF UPU J RVF FMT QSJNFST BDUFT E BRVFTUB GPSNBDJØ FMT WFVSFN B MB QSF DBNQBOZB EF MFT FMFDDJPOT BM 1BSMBNFOU &VSPQFV 6QZ% ÏT VO QBSUJU RVF OP FT EFmOFJY DPN EF ESFUFT OJ E FTRVFSSFT TJOØ USBOTWFSTBM DPOTUJUVDJP OBMJTUB J FOUFOFO MB QPMÓUJDB FO DMBV FTQBOZPMB

DFWXDOLWDW

UHSRUWDWJH

$BSMFT $BSWBKBM

1SPHSBNBDJØ EFM $BSOFTUPMUFT B #BEBMPOB %JTTBCUF EF GFCSFS 997** 3VB EF $BSOBWBM EF -MFmË " MFT I BM DBSSFS EF 1ÏSF[ (BMEØT 3VB B SJUNF EF DPN QBSTB JOGBOUT J BEVMUT EFTm MBSBO EJTGSFTTBUT QFMT DBSSFST EFM CBSSJ EF -MFmË )J IBVSË MMJVSBNFOU EF QSFNJT BMT NJMMPST WFTUJUT RVF UJOHVJO GPSNFT DSFBUJWFT J FOHJOZPTFT 3FDP SSFHVU DBSSFS EF 1ÏSF[ (BMEØT SPOEB EF 4BOU "OUPOJ EF -MFmË BWJOHVEB EFM %PDUPS #BTTPMT BWJOHVEB EFM .BSRVÒT EF 4BOU .PSJ QMBÎB EF 5SBGBMHBS $FSDBWJMB EF $BSOBWBM QFMT DBSSFST EFM $FOUSF EF #BEBMPOB I B MB QMBÎB EF MB 1MBOB BNC FM HSVQ EF QFSDVTTJØ ,"#6. BDPNQBOZBUT EFMT YBORVFST 5POJUPO 3FDPSSFHVU QMBÎB EF MB 1MBOB DBSSFST EFMT "SCSFT EF MB 1JFUBU EF .BS J QMBÎB EF MB 7JMB

t *NBUHF EFM DBSUFMM $BSOBWBM #BEBMPOB "KVOUBNFOU

%JTCBVYB EF $BSOFTUPMUFT B UPUB MB DPNBSDB #BEBMPOB t -B DPNBSDB WJVSË BRVFTU DBQ EF TFUNBOB MB EJT CBVYB E FM $BS OBWBM " #BEBMPOB UPU ÏT B QVOU QFS MB DFMFCSBDJØ EFM $BSOBWBM RVF FT SFBMJU[BSË FO EJGFSFOUT FTQBJT EF MB DJVUBU -B SVB EF $BSOBWBM EF -MFmË RVF GBSË FM TFV SFDPSSFHVU QFMT DBSSFST QSJODJQBMT EFM CBSSJ QSFNJBSË FMT NJMMPST WFTUJUT RVF UJOHVJO GPSNFT DSFBUJWFT J FOHJOZPTFT " MB QMBÎB EF MB 1MBOB FT QPESË BDPNQBOZBS EJTGSFT TBUT FM HSVQ EF QFSDVTTJØ ,BCVN FMT YBORVFST EF 5P OJUPO RVF BNC MB QBSUJDJQBDJØ EFMT HFHBOUT EF MFT FTDPMFT +VOHGSBV 7FOUØT .JS J MB 'B SËOEVMB EF #BEBMPOB QPSUBSË BMT QBSUJDJQBOUT B MB QMBÎB EF MB 7JMB 6O DPQ B MB QMBÎB FT QPESË EPOBS MB WPMUB BM NØO BNC FM HSVQ E BOJNBDJØ &ODB SB 'BSFN 4BMBU J 4B .BKFTUBU FM 3FJ $BSOFTUPMUFT GBSË FM

&M3FQPSUBUHF JOEE

1SFHØ EF 4B .BKFTUBU FM 3FJ $BSOFTUPMUFT I B MB QMBÎB EF MB 7JMB &M 3FJ GBSË FM TFV EJTDVST QFS DPO WJEBS B UPUIPN B MB EJTCBVYB J B MB HSFTDB BNC JOUÒSQSFU EF MMFOHVB EF TJHOFT QFS B QFSTP OFT BNC EJTDBQBDJUBU BVEJUJWB 5BNCÏ BDUVBDJØ NVTJDBM B DËSSFD E &ODBSB GBSFN TBMBU #BMMT EF $BSOBWBM B #BEBMPOB I BMT QBWFMMPOT EF MB 1MBOB J EF -MFmË "NC MB #BOEB 1VJH B MB 1MBÎB EF MB 1MBOB BNC VO SFQFSUPSJ RVF JODMPV QPQ SPDL SFHHBF J HSBOT ÒYJUT E BRVÓ J EF UPU FM NØO "M QBWFMMØ EF -MFmË BDUVBDJØ EF MB 'VO EBDJØO /P )BZ .BOFSB BNC WFSTJPOT EF SPDL

TFV EJTDVST QFS DPOWJEBS B UPUIPN B MB EJTCBVYB J B MB HSFTDB -B GFTUB DPOUJOVBSË BNC FMT CBMMT EF $BSOBWBM BM 1BWFMMØ .VOJDJQBM EF MB 1MBOB IJ BDUVBSË -B #BOEB 1VJH RVF JOUFSQSFUBSBO ÒYJUT JOUFSOBDJP OBMT J OBDJPOBMT J B -MFmË IJ BDUVBSË 'VOEBDJØO /P )BZ .BOFSB HSVQ EF WFSTJPOT EF QPQ SPDL % BMUSB CBOEB B .POUHBU BRVFTU EJTTBCUF UJOESË MMPD BM 1PMJFTQPSUJV .VOJDJQBM B QBS UJS EF MFT IPSFT VO $BS OBWBM QPQVMBS BNC M BDUVBDJØ EFM HSVQ i4PM EF /JU i )J IBVSË NÞTJDB CBMM EF EJTGSFTTFT J YPDPMBUBEB JOGBOUJM " 5JBOB FM $BSOFTUPMUFT FT DFMFCSBSË EF DBSB B EJVNFO HF BNC VOB SVB QFMT DBSSFST EFM QPCMF J M BDUVBDJØ EFM HSVQ E BOJNBDJØ 1FOUJOB FM (BU BNC FM TFV FTQFDUBDMF 3FWP MVDJØ B QBSUJS EF MFT I B MB 4BMB "MCÏOJ[

$BSOFTUPMUFT BMT NFSDBUT NVOJDJQBMT CBEBMPOJOT &M EJKPVT (SBT DFMFCSBDJØ BMT .FSDBUT .BJHOPO 5PSOFS J 4BOU 3PD J BRVFTU EJWFOESFT BMT NFSDBUT EF 1PNBS .PSFSB -B 4BMVU J -MFmË

727 %DGDORQD

6$172 &5,672

2&$6,Ï1

3LVR FRQ KDE 727$/ 0(17( 5()250$'2 VDOyQ FRQ VDOLGD D EDOFyQ DLUH IUtR FDORU ,'($/ 3$5(-$6 ¼ 376

025(5$

3LVR KDE GREOHV EDxR \ FRFLQD DUUHJODGRV VXHOR GH JUHV FDUSLQWHULD H[WHULRU GH DOXPLQLR /,672 3$5$ (175$5 $ 9,9,5 ¼ 376

6$17 $'5,¬

3(3 9(1785$

/$ 025(5$

&(175( $SDUWDPHQWR HVWXGLR P & 35,0 KDE FRFLQD HTXLSDGD ¿QFD SRFRV YHFLQRV FRQ DVFHQVRU 683(5 =21$ ¼ 376

3LVR FRQ KDE GREOHV /,672 3$5$ 9,9,5 FRFLQD FRQ HOHFWURGRPpVWLFRV SDUNHW DOWXUD UHDO %8(1$ =21$ ¼ 376

2)(57$ 3LVR $ 5()25 0$5 $ 68 *8672 KDELWDFLRQHV \ P SRFRV YHFLQRV %,(1 &2081,&$'2 ¼ 376

3LVR $SDUWDPHQWR HQ 672 &5,672 FRQ KDE \ EDOFyQ DLUH IUtR FDORU OLVWR SDUD YLYLU 3$*8( &202 81 $/48,/(5 ¼ 0(6 ¼ 376

320$5

&$1<$'Ï

3LVR P 72'2 (;7(5,25 KDE EDxR \ FRFLQD UHIRUPDGRV SDUNHW \ JUHV FDOHIDFF D DFRQG $08(%/$'2 /,672 3$5$ (175$5 $ 9,9,5 ¼ 376

&(1752

//(),¬ È7,&2 FRQ 7(55$=$ GH P KDELWDFLRQHV GREOHV JUHV \ SDUNHW FDOHIDF D D $6&(1625 ¼ 376

3LVR -72 $9'$ '5 %$662/6 P KDE VDOyQ P F VDOLGD D EDOFyQ SXHUWDV GH UREOH SUHFLVD DOJXQD UHIRUPD $6&(1625 %8(1$ =21$ ¼ 376

È7,&2 P 7(55$=$ P KDE FRFLQD RI¿FH DLUH IULR FDORU 08< 62/($'2 DVFHQVRU 'LVSRQLEOH -XOLR ¼ 376

6$17 $'5,¬

&$1<$'Ï

&$1<$'Ï 3LVR 72'2 (;7(5,25 KDE FRFLQD \ EDxR VDOyQ FRQ VDOLGD D EDOFyQ 08< 62/($'2 DOWR \ FRQ DVFHQVRU ¼ 376

3LVR -8172 $<72 GH P KDE DQWHV EDOFyQ D OD FDOOH ¿QFD FRQ $6&(1625 ELHQ FRQVHUYDGR ¼ 376

%8)$/¬

3LVR KDE HQ ¿QFD FRQ ]RQD UHFUHDWLYD FRPXQLWDULD EDOFyQ D OD FDOOH EDxR \ FRFLQD UHIRUPDGRV FDOHIDF D DFRQG DVFHQVRU

¼ 376

3LVR GH P \ KDE 72'2 (;7(5,25 EDxR \ FRFLQD UHIRUPDGRV FDOHIDF VDOyQ P HQ DPELHQWHV EDOFyQ DVFHQVRU ¼ 376

%8)$/¬

0217*$7

3LVR P 3$7,2 P KDE GREOHV FRFLQD RI¿FH F HOHFWURGRP VDOyQ P SDUNHW \ JUHV FDOHI D D ),1&$ 6(0, 18(9$ DVF 3. 23& ¼ 376

672 &5,672

%8)$/¬ 3LVR P KDE EDxR \ DVHR VDOyQ P FRQ FKLPHQHD EDOFyQ D OD FDOOH ¿QFD FRQ DVFHQ VRU HQ '2&725 52%(57 SN RSF ¼ 376

&DVD 6(0, 18(9$ 7(55$=$6 KDE GREOHV EDxR FRPSOHWR FRFLQD FRPHGRU VDOyQ HVWDU SDUNHW FDOHIDF \ D D /,67$ 3$5$ 9,9,5 ¼ 376

727 %DGDORQD

'03."5 /06 JOEE

3,62 P FRQ KDE FRFLQD \ EDxR VDOyQ P FRQ EDOFyQ ¿QFD FRQ DVFHQVRU -8172 $0%8/$725,2 ¼ 376

/$ &215(5Ë$

0217,*$/¬ 3LVR P KDE 72'2 (;7(5,25 DPSOLR EDOFyQ FDOHIDF ¿QFD FRQ DVFHQVRU -8172 //25('$ ¼ 376

&(175(

3LVR P KDE 727$/0 5()250$'2 VDOyQ P F VDOLGD D EDOFyQ SDUNHW FDOHIDF D D DVF ,03(&$%/( /,672 3$5$ (175$5 ¼ 376

/$ 025(5$

&DVD D YLHQWRV FRQ SDUFHOD P YLYLHQGD FRQ KDE GREOHV 5()250$'$ SRVLEOH KDFHU SLVFLQD \ DPSOLDU HGL¿FDFLyQ 2&$6,Ï1 ¼ 376

%8)$/¬

&$6$ GH P -$5',1 GH P 7(55$=$ P KDE EDxR DVHRV 72'$ (;7(5,25 08< &216(59$'$ ¼ 376

$SDUWDPHQWRV 18(926 $ (675( 1$5 GH KDE EDxR F SODWR GXFKD FRFLQD HTXLS F HOHFWURGRP JUDQ VDOyQ P DLUH IULR FDORU ,03(&$%/(6 ¼ 376

&(175(

3LVR -8172 /$ 5$0%/$ \ 3/$<$ KDELWDFLRQHV 5()25 0$'2 FDOHIDF \ DLUH DFRQG 683(5 =21$ /LVWR SDUD YLYLU ¼ 376 3LVR ,03(&$%/( FRQ KDE H[WHULRUHV ¿QFD 6(0, 18(9$ SDUNHW EDOFyQ RULHQWDGR D PDU FDOHIDF \ DLUH DFRQG DVFHQVRU SDUNLQJ RSF ¼ 376

3(3 9(1785$

3LVR KDE GREOHV H[W FRFLQD \ EDxR UHIRUP VDOyQ FRQ EDOFyQ %,(1 &2081,&$'2 FDOHI \ D D ,'($/ 3$5(-$6 ¼ 376

%8)$/¬ %DMRV P -$5'Ë1 P KDE VXLWWH FDOHIDF EDUEDFRD ¿QFD 32&26 $f26 WRGR H[WHULRU ¼ 376

È7,&2 'Ò3/(; 6(0, 18(92 P WHUUD]D P KDE GREOHV \ EXKDUGLOOD P FDOHI WHUUD]D FRQ DFFHVR HQ VDOyQ \ FRFLQD DVFHQVRU ¼ 376

DFWXDOLWDW

SHUVRQHV

$BSMFT 5PSOFSP

i-FT BTTPDJBDJPOT EF WFÕOT IFN QBTTBU EF MB QSPUFTUB B MB QSPQPTUBw

+VMJP .PMJOB TFDSFUBSJ EF MB $0/'"7$ &M CBEBMPOÓ +VMJP .PMJOB QPSUB NÏT EF MB NFJUBU EF MB TFWB WJEB EFEJDBU BM NPWJNFOU WFÕOBM "NC OPNÏT BOZT WB JOUFHSBS TF B M "TTPDJBDJØ EF 7FÕOT EF -B 1BV MB TFHPOB FOUJUBU WFÕOBM NÏT BOUJHB EF M &TUBU &TQBOZPM J RVF BSB DPNNFNPSB FMT BOZT E FYJTUÒODJB " NÏT B NÏT WB QSFTJEJS MB 'FEFSBDJØ E "TTPDJBDJPOT EF 7FÕOT EF #BEBMPOB EVSBOU BOZT J BSB FODBSB IJ FTUË WJODVMBU USFCBMMBOU DPN B WPDBM %F GFU WB EFJYBS MB '"7# QFS TFS FM TFDSFUBSJ EF MB $0/'"7$ M FOUJUBU RVF BHMVUJOB MFT FOUJUBUT WFÕOBMT EF $BUBMVOZB %FT E BRVFTU DËSSFD USFCBMMB BSB QFS QBMtMJBS FMT FGFDUFT EF MB DSJTJ FOUSF FMT WFÕOT

1FSTPOFT JOEE

FOEBWBOU FO MB TFWB SFHFOF SBDJØ &O BOZT IFN QBTTBU EF MB QSPUFTUB B MB QSPQPTUB "SB IFN EF DPOWÒODFS BNC MB QBSBVMB " #BEBMPOB MFT FOUJUBUT WFÕOBMT IBO FTUBU NBTTB MMJHBEFT B MB QPMÓUJDB &MT RVF OP IBO TBCVU TFQBSBS FM QBQFS QPMÓUJD EFM QBQFS EF MÓEFS WFÕOBM IBO FTUBU MFT QFSTPOFT OP MFT FOUJUBUT 4ØO MFT QFSTPOFT MFT RVF UFOFO DBSOFU "SB CÏ KP NJMJUP B &6J" QFSÛ OP UJOD DBQ QSPCMFNB FO DSJUJDBS MPT TJ IP GBO NBMBNFOU " MB $0/'"7$ UFOFO GFJOB BNC BJYÛ EF MB DSJTJ " #BEBMPOB BMHVOFT FOUJUBUT WPMFO RVF FT SFCBJYJO FMT QSFVT QÞCMJDT 4FSË QPTTJCMF )FN GFU FMT EFVSFT J FTUJD TFHVS RVF FT EPOBSË FM EJËMFH BNC M "KVOUBNFOU "SB CÏ FO BJYÛ IJ IB NPMUB QJDBSFTDB QFSRVÒ IJ IB QBSUJUT RVF B #BEBMPOB EFGFOTFO VOB DPTB J E BMUSFT QPCMBDJPOT VOB BMUSB )FN EF EJS UBNCÏ RVF BJYÛ OPNÏT ÏT QBSU EFM QSPCMFNB QFSRVÒ IJ IB E BMUSFT DPN MB QVKBEB EFMT QSFVT EFM USBOTQPSU QÞCMJD P EFM SFCVU EF MB MMVN

BOZT EF M "7 EF -B 1BV 4VQPTP RVF FM CBSSJ IB DBOWJBU NPMU FO BRVFTU UFNQT 4Ó QFSÛ RVFEB NPMU QFS GFS &O FM TFV NPNFOU FT WB BQMJDBS FM 1MB 6SCBO BSB UBNCÏ MB -MFJ EF #BSSJT RVF FTUË BSSFHMBOU FMT DBSSFST "SB GB GBMUB VO BMUSF QMB QFS RàFTUJPOT DPN FMT QBUJT JOUFSJPST J TPCSFUPU QFS USFCBMMBS FO MB JOUFHSBDJØ TPDJBM

- "7 EF $BOZFU IB QSPQP TBU RVF MFT FOUJUBUT WFÕOBMT EFTUJOJO EJOFST QFS BKVEBS FMT NÏT BGFDUBUT QFS MB DSJTJ 2VÒ FO QFOTB ²T VOB NPTUSB EF QSFPDVQB DJØ QFSÛ FO M ËNCJU WFÕOBM KB GB BOZT RVF BMHÞ WB QSPQPTBS RVF FT EFTUJOÏT FM EFM QSFTTVQPTU EF MFT BTTPDJBDJPOT EF WFÕOT QFS BKVEBS FMT NÏT OFDFTTJUBUT %F GFU M "7 EFM 'SPOU .BSÓUJN KB WB EFNBOBS MB DSFBDJØ E VOB DPNJTTJØ QFS B MB TPMJEBSJUBU J DSFD RVF BRVFTU ÏT FM NBSD FO RVÒ IFN EF USFCBMMBS %FNBOBS DPN T IB EJU RVF FMT WFÕOT EPOJO VO FVSP OP ÏT MB TPMVDJØ QFSRVÒ OP QPEFN WJVSF EF M BMNPJOB &M RVF IFN EF GFS ÏT FODBQÎBMBS NBOJGFTUBDJPOT TJ GB GBMUB J GFS DPTUBU BMT USFCB MMBEPST

6OB EF MFT NBOFSFT EF DFMFCSBS BRVFTU NJH TFHMF ÏT BNC VO MMJCSF QFS MB 1BV PJ 4Ó - FTUBOU TJHOBOU EJWFSTFT QFSTPOBMJUBUT BNC MB JEFB EF USF CBMMBS QFS MB 1BV DPN B CBSSJ J QFS MB 1BV FO HFOFSBM B UPU FM NØO %FTQSÏT WPMFN QPSUBS M FEJDJØ PSJHJOBM BM .VTFV EF #BEBMPOB J GFS UBNCÏ VOB EJTUSJCVDJØ QFS B UPUIPN RVJ FM WVMHVJ &O BRVFTU UFNQT UBNCÏ IBO DBOWJBU NPMU FM QBQFS EF MFT BTTPDJBDJPOT EF WFÕOT 2VÒ O PQJOB EFMT RVF QFOTFO RVF T IBO EF SFHFOFSBS "RVFTUB QPMÒNJDB TFNQSF IJ TFSË QFSÛ T FTUBO GFOU QBTTPT

727 %DGDORQD

1MBOUJMMB#BTF JOEE

DFWXDOLWDW

OD VHWPDQD HQ LPDWJHV -B GBNÓMJB EF .BSHBSJEB 9JSHV T JOUFSFTTB QFS VO USF

CBMM EFMT OFOT EF 1 EF M &TDPMB -PMB "OHMBEB &MT BMVNOFT EF 1 EF M &TDPMB -PMB "OHMBEB EFM CBSSJ EF $BOZBEØ IBO SFBMJ U[BU VO USFCBMM TPCSF M BDUSJV CBEBMPOJOB .BSHBSJEB 9JSHV "RVFT UB UBTDB IB JOUFSFTTBU B MB GBNÓMJB EF 9JSHV mOT BM QVOU E JODMPVSF BRVFTU NBUFSJBM B MB TFWB QËHJOB XFC )BO WPMHVU DPOÒJYFS QFSTPOBMNFOU FMT USFCBMMT GFUT QFMT OFOT J MFT JORVJFUVET RVF FMT IB EFTQFSUBU MB WJEB EF M BDUSJV "RVFTU QSPKFDUF GPSNB QBSU EF UPU VO USFCBMM RVF BRVFTU DVST M &TDPMB FTUË SFBMJU[BOU TPCSF MB WJEB EF EJGFSFOUT QFSTPOBUHFT CBEBMPOJOT

1SJNFSB FEJDJØ EFM DPODVST EF QVOUT EF MMJCSFT EF MB 3FHJEPSJB EF MB %POB EF #BEBMPOB &M $FOUSF EF %P DVNFOUBDJØ EF MB 3FHJEPSJB EF MB %POB EF M "KVOUBNFOU EF #BEBMPOB IB FTUBU MB TFV EFM MMJVSBNFOU EF QSFNJT EFM QSJNFS DPODVST EF QVOUT EF MFDUVSB 6O UPUBM EF QVOUT EF MMJCSF IBO FTUBU QSFTFOUBUT FO BRVFTUB QSJNFSB FEJDJØ QSJNFS QSFNJ EPUBU EF FVSPT CFTDBOWJBCMFT FO MMJCSFT IB FTUBU QFS "OOB . #MÈ[RVF[ J (ØNF[ J FMT EPT BDDÒT TJUT EF FVSPT CFTDBOWJBCMFT FO MMJCSFT IBO FTUBU QFS "OOB 6UTFU J #PJYBEFSFT J ®HBUB 2VFSBMU J (JNFOP

&M QSJNFS DPODFSU EFM DJDMF .VTJDB U DPNFOÎB BNC VOB CPOB FOUSBEB EF QÞCMJD &M UFBUSF EFM $ÓSDPM $BUÛMJD WB BDPMMJS EJWFOESFT B MB OJU MB QSJNFSB BDUVBDJØ EFM DJDMF EF NÞTJDB FO DBUBMË .VTJDB U &M DBOUBOU EF 3FVT J MÓEFS EFMT 8IJTLZO T +PBO .BTEFV WB PGFSJS VO DPODFSU ÓOUJN J NPMU QFSTPOBM 4 IB EF EFTUBDBS MB CPOB BnVÒODJB EF QÞCMJD E VO DJDMF RVF IB OBTDVU TFO TF DBQ BKVEB EF MFT BENJOJTUSBDJPOT QÞCMJRVFT &M QSPQFS EF GFCSFS B MFT I BDUVBSË FM DBOUBOU +PTFQ 5IJØ 'PUP #FSOBU 1BEJMMB

&M HSVQ 0BTJT NPTUSB MB TFWB GBDFUB NÏT NBEVSB B M 0MÓNQJD 6OB EF MFT HSBOT CBOEFT EFM iCSJU QPQw EFMT FMT 0BTJT WBO BDUVBS EJWFOESFT QBTTBU BM 1BMBV 0MÓNQJD EF #BEBMPOB "RVFTUB WFHBEB FMT HFSNBOT -JBN J /PFM (BMMBHIFS WBO PQUBS QFS NPTUSBS MB TFWB GBDFUB NÏT TFSFOB J NBEVSB "NC MFT FOUSBEFT FTHPUBEFT EFT EF GB TFUNBOFT FMT 0BTJT WBO QVKBS EBMU E VO FTDFOBSJ TPCSJ BNC VOB QBOUBMMB HFHBOU DPN B ÞOJD EFDPSBU QFS JOUFSQSFUBS VOB WJOUFOB EF UFNFT

)PNFOBUHF BM WFUFSË KVHBEPS EF MB 1FOZB

"MGPOTP .BSUÓOF[ &M QBWFMMØ EF MB 1MBOB WB BDPMMJS EJTTBCUF FM QBSUJU EF WFUFSBOT EFM $MVC +PWFOUVU #BEBMPOB DPOUSB FM ' $ #BSDFMPOB %VSBOU FM QBSUJU FT WB UPSOBS B FTDPMUBS FM DSJU i'POTP 'POTP w .BSUÓOF[ WB EPOBS B MB 1FOZB NPMUFT KPSOBEFT EF HMÛSJB

-B4FUNBOB&O*NBUHFT JOEE

727 %DGDORQD

JXLD VHUYHLV

-"4 $04"4 #*&/ )&$)"4

$0-- * 16+0- #"%"-0/"

6'NÇ(105 $#&#.10# r "+6/5".&/5 $FOUSBMFUB r (6®3%*" 63#"/" 6SHÒODJFT .04404 % &426"%3" 6SHÒODJFT #0.#&34 (&/&3"-*5"5 6SHÒODJFT .04404 % &426"%3" $PNJTTBSJB (6®3%*" 63#"/" $PNJTTBSJB 10-*$*" /"$*0/" $PNJTTBSJB )041*5"- .6/*$*1"- )041*5"- $"/ 365* 5"9*4 #²56-0 4&37&* % "5&/$*» $*65"%"/" "5&/$*» 7*0-µ/$*" %0.µ45*$"

0'&35"4 %& 1*404 &/ "-26*-&3 -" 4"-6% +UP BM NFSDBEP 1JTP EF IBCJUBDJPOFT N DPDJOB Z CB×P SFGPSNBEP ``;POB NVZ CJFO DPNVOJDBEB "-26*-&3 å .&4 3&' 4- 4"/50 $3*450 1JTP FO m ODB DPO BTDFOTPS IBCJUBDJPOFT NVZ CJFO EJTUSJCVJEP DPDJOB Z CB×P SFGPSNBEPT DBMFGBDDJØO CBMDØO FYUFSJPS B DBMMF "-26*-&3 å .&4 3&' 4$ $"/:"%0 $FSDB EF MB QMBZB 1JTP EF IBCJUBDJPOFT BOUFT NVZ CJFO DPOTFSWBEP CBMDØO FYUFSJPS B DBMMF m ODB DPO BTDFOTPS DPDJOB FRVJQBEB "-26*-&3 å .&4 3&' $" 4 " / 5 0 $ 3 * 4 5 0 " N Q M J P Q J T P E F N I B C J U B D J P O F T C B M D Ø O F Y U F SJPS B DBMMF DPDJOB Z CB×P NVZ CJFO DPOTFSWBEPT BNVFCMBEP #VFOB DPNVOJDB DJØO "-26*-&3 å .&4 3&' 4$ -" 4"-6% #"+" 1JTP EF IBCJUBDJPOFT N CBMDØO FYUFSJPS B DBMMF m ODB DPO BTDFOTPS BNVFCMBEP "-26*-&3 å .&4 3&' 4- 4"/50 $3*450 "NQMJP ÈUJDP EF N DPO UFSSB[B IBCJUBDJPOFT JNQFDBCMF m ODB DPO BTDFOTPS FYUFSJPS B DBMMF "-26*-&3 å .&4 3&' 4$ ."326&4 %& 4"/ .03* 1JTP FO [POB JONFKPSBCMF EF IBCJUBDJPOFT UPUBMNFOUF SFGPSNBEP OVFWP B FTUSFOBS m ODB DPO BTDFOTPS CBMDØO FYUFSJPS "-26*-&3 å .&4 3&' 4-

/106)#6

$ */%&1&/%&/$*" "NQMJP QJTP EF N IBCJUBDJPOFT CBMDØO FYUFSJPS B DBMMF 3FGPSNBEP Z BNVFCMBEP m ODB DPO BTDFOTPS "-26*-&3 å .&4 3&' #6

"+6/5".&/5 10-*$*" -0$"- $"1 .0/5("5

(03( ``*ONFKPSBCMF [POB 1JTP EF N DPO IBCJUBDJPOFT DPDJOB Z CB×P JNQFDBCMFT BNVFCMBEP m ODB DPO BTDFOTPS "-26*-&3 å .&4 3&' ((

6+#0#

#6'"-" 1JTP FO PCSB TFNJ OVFWB IBCJUBDJPOFT N CBMDPO EF N CB×P Z BTFP BNVFCMBEP BTDFOTPS DFSDB EF $BO 3VUJ "MRVJMFS QPS UFNQPSB EBT "-26*-&3 å .&4 3&' #6

"+6/5".&/5 10-*$*" -0$"- $"1 5*"/" 3®%*0 5*"/"

0'&35"4 %& 1*404 &/ 7&/5" -" 4"-6% #"+" 1JTP EF IBCJUBDJPOFT UPEP OVFWP B FTUSFOBS T HSÏT Q SPCMF WFOU BMVNJ OJP `1SFDJPTP 13&$*0 å $605" %& å .&4 3&' 4-

NC ZCTZC

4"/50 $3*450 $BMMF QSJODJQBM Z DPO DPNFSDJPT IBCJUBDJPOFT N CBMDØO DPDJOB Z CB×P NVZ CJFO DPOTFSWBEPT m ODB DPO BTDFOTPS 13&$*0 å $605" %& å .&4 3&' 4$

r "+6/5 #"%"-0/" XXX CBEBMPOB DBU r "+6/5 .0/5("5 XXX NPOUHBU DBU r "+6/5 5*"/" XXX UJBOB DBU r 3&7*45" &- 505 XXX FMUPUEJHJUBM DPN r 1035"- *..0#*-*"3* XXX IBCJUBMJT OFU r 7*-"8&# XXX WJMBXFC DBU CBEBMPOB #%/ $0.6/*$"$*» XXX CBEBMPOBDPN DBU '¾36. %&#"5 #²56-0 XXX CFUVMP DBU 1035"- #"%"8&# XXX CBEBXFC DPN */' -0$"- #"%"#*5 XXX CBEBCJU PSH #"%"-0/" 01*/" XXX CBEBMPOBPQJOB DPN (6*" %& #"%"-0/" XXX HVJBECO DPN */'03."$*» .0/5("5 XXX NPOUHBU OFU

#6'"-" 1JTP UJQP FTUVEJP DPNQMFUBNFOUF SFGPSNBEP EF EJTF×P T QBSRVFU Q IBZB WFOU BMVNJOJP ``&YDFMFOUF [POB 13&$*0 å $605" %& å .&4 3&' #6 --&'*" +6/50 1&3&; ("-%04 1JTP EF IBCJUBDJPOFT N CBMDØO UPEP SFGPSNBEP OVF WP T HSÏT Q IBZB B B DPO DBMPS 13&$*0 å $605" %& å .&4 3&' -' 4*453&--4 1JTP EF IBCJUBDJPOFT FO DBMMF QSJODJQBM DPDJOB Z CB×P SFGPSNBEPT FYUFSJPS B DBMMF ``0$"4*0/ 103 13&$*0 13&$*0 å $605" %& å .&4 3&' 45 --&'*" +6/50 "- .&3$"%0 (SBO QJTP EF N IBCJUBDJPOFT UPUBMNFOUF SFGPSNBEP CBMDPO FYUFSJPS m ODB DPO BTDFOTPS 13&$*0 å $605" %& å .&4 3&' -'

TÀFKQU

--&'*" #"+" 1JTP FO CVFOB [POB EF IBCJUBDJPOFT N CBMDØO FYUFSJPS B DBMMF QBSRVFU BMVNJOJP m ODB DPO BTDFOTPS 13&$*0 å $605" %& å .&4 3&' -'

3ËEJP $JVUBU #BEBMPOB 3$# '. UBNCÏ FNFU QFS 5 % 5

3ËEJP 5JBOB '. 3ËEJP 1PNBS '. 3ËEJP 4BOU "ESJË '. (SBNB 3ËEJP '. 3ËEJP -B .JOB '. 3ËEJP #ÏUVMP '. 0OB .BS '.

$0/(3&40 &YDFMFOUF DPNVOJDBDJØO USBOWÓB BVUPCVTFT NFUSPy 1JTP EF IBCJUBDJPOFT N GJODB DPO BTDFOTPS Z FYUFSJPS B DBMMF ``0$" 4*0/ 13&$*0 å $605" %& å .&4 3&' $0 #6'"-" "NQMJP QJTP EF N UFSSB[B EF N IBCJUBDJPOFT DPNQMFUBNFOUF SFGPSNBEP Q SPCMF WFOU BMVNJOJP &YUFSJPS B DBMMF 13&$*0 å $605" %& å .&4 3&' #6 #6'"-" 1JTP EF N FO DBMMF QSJODJQBM CBMDØO Z QBUJP IBCJUBDJPOFT m ODB DPO BTDFO TPS DPDJOB Z CB×P SFGPSNBEPT TVFMP EF QBSRVFU QVFSUBT EF DFESP WFOUBOBT EF BMVNJ OJP 13&$*0 å $605" %& å .&4 3&' #6

VGNGXKUKÒ

7*4*5& /6&453" 1«(*/" 8&# XXX m ODBTWB[RVF[ DPN 727 %DGDORQD

QBH JOEE

r 5FMFWJTJØ #BEBMPOB 57# $BOBM BOBMÛHJD $BOBM 5%5

HVSDL F

GURCK E

FXOWXUD DJHQGD OOLEUHV PÙVLFD FLQHPHV QRWÍFLHV

*TBCFM (SB×B QSFTFOUB i-B MJUFSBUVSB DBUBMBOB FO MB DSVÕMMB w NFOUT EF MB QSPEVDDJØ MJUFSËSJB &MT DPMtMBCPSBEPST QJOUFO VO QBOPSBNB GPSÎB TFNCMBOU BSSFV EFMT 1BÕTPT $BUBMBOT NBSDBU QFS VOB WJTJØ NÏT P NFOZT EFTFTQFSBOÎBEB .BMHSBU MB EJTQBSJUBU E PQJOJPOT VO EFMT USFUT DPNVOT RVF T IB DPOTUBUBU ÏT FM QBT E VOB MJUFSBUVSB CËTJ DBNFOU TPTUJOHVEB QFMT QPFUFT J MB QPFTJB B VOB BMUSB SFDPM[BEB FO MB OBSSBUJWB J MB QSPTB 6O BMUSF TJHOF EFMT UFNQT ÏT MB JSSVQDJØ EF MFT OPWFT UFDOPMP HJFT J DPN BRVFTUFT IBO GPSKBU MB jMJUFSBUVSB EFM KPx FO GPSNBU EF EJFUBSJ QFSTPOBM CMPD P XFC QFSTPOBMJU[BU "RVFTU OPV HÒ OFSF EJHJUBM PCMJHB B SFQFOTBS MB SFMBDJØ FOUSF BVUPS J MFDUPS J FM QSPDÏT NBUFJY EF DSFBDJØ B DBV TB EF MB TFWB JNNFEJBUFTB -B SFWPMVDJØ UFDOPMÛHJDB EPODT HFOFSB VOB DFSUB EFTDPOm BOÎB J QMBOUFKB JOUFSSPHBOUT OPVT RVF OPNÏT FM UFNQT TBCSË SFTQPO ESF &M WPMVN JODMPV VO EJËMFH &M WJHPS E VO TJTUFNB MJUFSBSJ EFTWFSUFCSBU BNC USFT BVUPST EF SFOPN 1FSF #BMMBSU 7JOZFU 1BOZFMMB J 'SBODFTD 4FSÏT VOB SFn FYJØ B USFT CBOEFT FO RVÒ MB TJUVBDJØ EF MB MMFOHVB QSFO FM QSPUBHPOJTNF

%JKPVT B EPT RVBSUT EF WVJU FT QSFTFOUB i-B -JUFSBUVSB $BUBMBOB FO MB DSVÕMMBw B 4BMUBNBSUÓ -MJCSFT

- FEJUPSJBM &M $FQ J MB /BOTB BDBCB EF USFVSF BM NFSDBU i-B -JUFSBUVSB DBUBMBOB FO MB DSVÕMMBw DPPSEJOBEB QFS MB EJSFDUPSB EF M &TQBJ #FUÞMJB *TBCFM (SB×B J QFS 5FSFTB *SJCBSSFO 6O WPMVN RVF QSFO FM QPMT BMT EBSSFST BOZT EF DSFBDJØ MJUFSËSJB QSFOFOU 'SBOLGVSU DPN B QVOU E JOn FYJØ 0CSFO FM NPOPHSËGJD +BVNF 4VCJSBOB J 'SBODFTD 1BSDFSJ TBT FYEJSFDUPST EF MB *-$ RVF

GBO VOB WBMPSBDJØ HFOFSBM EF M FWPMVDJØ EF MB MJUFSBUVSB BRVFT UFT ÞMUJNFT USFT EÒDBEFT -FT PQJOJPOT T PQPTFO NFOUSF RVF 4VCJSBOB FT NPTUSB NÏT BWJBU PQUJNJTUB 1BSDFSJTBT UÏ VO EJT DVST NÏT FTDÒQUJD RVF FT CBTB FO MB TJUVBDJØ DPNQMJDBEB EF MB MMFOHVB J MB DVMUVSB DBUBMBOFT %FTQSÏT E BRVFTUT EPT BTTBKPT VOB TÒSJF E FTQFDJBMJTUFT FT DPODFOUSFO FO EJGFSFOUT TFH

(JOB EF 5FSB

OOHJXH D VXV FOLHQWHV GH XQD IRUPD UiSLGD \ HÀ FD] )ROOHWRV $ WRGR FRORU [ PP JUP

)ROOHWRV SXEOLFLWDULRV '26 &$5$6 HXURV

81$ &$5$ HXURV

VLQJXODUV HV

QBH JOEE

727 %DGDORQD

-B 9BSYB E &TQFDUBDMFT *OGBOUJMT EF #BEBMPOB IB QSPHSBNBU QFS BRVFTU EJTTBCUF M BDUVBDJØ EFM .BH -BSJ FO TFTTJØ EPCMF BM 5FBUSF ;PSJMMB 6O FTQFDUBDMF RVF T IB JODMÛT EJOT EFM .FNP SJBM -J $IBOH QFSÛ RVF DPNQUB BNC MB HBSBOUJB EF -B 9BSYB M BTTPDJBDJØ RVF BDPOTFHVFJY PNQMJS FM ;PSSJMMB DBEB EJFT EF DBOBMMB BNC FMT NJMMPST FT QFDUBDMFT GBNJMJBST EF M FTDFOB BDUVBM &O .BH -BSJ TFSË FM HSBO QSPUB

HPOJTUB BNC VO FTQFDUBDMF RVF IB SFCVU HSBOT DSÓUJRVFT &M .BH FOT FOEJOTB EJOT EFM NØO EF MB NËHJB BNC VO TFDSFU FM HSBO TFDSFU EFMT NBHT 1FUJUT J HSBOT EFTDPCSJSBO DPN FM HSBO TFDSFU ÏT TBCFS HVBSEBS FM TFDSFU 5SVDT FTQFDUBDVMBST EFMT EF UPUB MB WJEB BNC DBSUFT DPSEFT FTQB TFT J CBSSFUT EF DPQB 6OT USVDT DBSSFHBUT EF TFOUJU EF M IVNPS FO VO FTQFDUBDMF PO FM QÞCMJD QBSUJDJQBSË E BMHVOB NBOFSB P VOB BMUSB

HVSDL F

&MT 4&$3&54 EF .BH -BSJ BRVFTU DBQ EF TFUNBOB B #BEBMPOB

"MVNOFT EF U E &40 EF *&4 &OSJD #PSSËT SFQSFTFOUFO (SFBTF +PWFT E FOUSF J BOZT EF M *OTUJUVU *&4 &OSJD #PSSËT EFM CBSSJ EF MB 4BMVU QVKBSBO B EBMU M FTDFOBSJ QFS SFQSFTFOUBS VO EFMT NVTJDBMT BNC NÏT ÒYJU EFMT EBSSFST BOZT i(SFBTFw .PMUB HPNJOB DVJS J SPDL O SPMM FO VOB BDUJWJUBU FTDPMBS RVF IB QFSNÒT

BMT KPWFT FTUVEJBOUT DPOÒJYFS EF QSJNFSB NË DPN O ÏT EF EVSB MB WJEB E VO NVTJDBM 5BONBUFJY M PCKFDUJV EF M FTQFDUBDMF ÏT SF DPMMJS EJOFST QFS BM WJBUHF EF mOBM EF DVST RVF FMT BMVNOFT EF U E &40 EF M *&4 &OSJD #PSSËT WPMFO GFS B -POESFT %FT EFM

NFT E PDUVCSF FTUBO BTTBKBOU J FO NPUJV EF $BSOFTUPMUFT IBO DSFHVU DPOWFOJFOU BOJNBS B UPUB MB DJVUBU B WFOJS MB B WFVSF (SFBTF %JKPVT J EJWFOESFT BM $FOUSF $ÓWJD -B 4BMVU < > XXX U% KJNEP DPN

,*54$) BDUVBSBO B &MT (FOJT 2VBO BMT OP S B O U B H S B O QBSU EF $BUB MVOZB TBMUBWB J BMtMVDJOBWB DBOUBOU 4P QB EF $BCSB 4BV &MT 1FUT P -BY O #VTUP IJ IBWJB VOB NJOPSJB RVF QSFGFSJFO M FTDFOB BMUFSOBUJWB QSFGFSJFO MFT MMFUSFT EFTDBSBEFT J MB NÞTJDB GFUB QFSRVÒ TÓ OP QFS B M|ÒYJU " MB QBSU GPTDB IJ IBWJB FMT ,JUT

DI FM HSVQ EF #BOZPMFT RVF EJTTBCUF BDUVBSË BMT (FOJT QFS QSFTFOUBS FM EJTD ,JUTDI 6O DPODFSU RVF QSPNFU CPOB NÞTJDB NPMUB DBOZB &M EJTD IBWJB EF TFS FM EF DPNJBU QFSÛ mOBMNFOU TFNCMB RVF OP TFSË BJYÓ . B M H S BU UPU F O T Q S F T F OU B DBOÎPOT DBSSFHBEFT EF SPDL CËTJD J PSHVMMØT TFOTF DPODFT TJPOT B MB QBV JOUFSJPS J VOFT MMFUSFT DBSSFHBEFT EF DJOJTNF WFOKBOÎB J PEJ 5FNFT DPN i%ÏV

J FM HPTw P i0SBDJØw EF CFO TF HVS UBNCÏ SFTTPOBSBO BM MPDBM VOEFSHSPVOE EF MB 3BNCMB 6O DPODFSU JNQSFTDJOEJCMF QFS BMT BNBOUT EFM SPDL J QFS BMT BNBOUT EF MB NÞTJDB IB QBTTBU VO RVBSU EF TFHMF QFSÛ MB DBOZB TFHVFJY FTTFOU MB NBUFJYB 6O DPODFSU RVF FOT PCMJHB B GFMJDJ UBS FMT (FOJT VOB WFHBEB NÏT QFS BQPTUBS GPSU QFS B MB DVMUVSB B #BEBMPOB (JOB EF 5FSB

%&41"5904 -0$"-4 $0.&3$*"-4 FO --0(6&3 1FQ 7FOUVSB %FTQBUY N FYUFSJPS #PO FTUBU å NFT $ 4BOU +PBRVJN -PDBM DPNFSDJBM N å NFT $ 'SBODFTD -BZSFU &EJmDJ DPNFSDJBM Q CBJYB QMBOUFT $ 5FNQMF -PDBM QM CBJYB N å NFT

-0$"-4 &/ 7&/%" $ ."3*/" N "QUF DMÓOJDB EFOUBM DPOTVMUPSJ å $ ."3 1M CBJYB N QMBOUB ÞT DPNFSDJBM 4PM MJDJUBS FOUSFWJTUB

8QD ILUPD GH SUHVWLJL XXX mORVFTCFMMBWJTUB DPN "WJOHVEB .BSUÓ 1VKPM OÞN S B 727 %DGDORQD

QBH JOEE

5FM

HVSDL F

DJHQGD %DGDORQD

%JTTBCUF

%JVNFOHF

%JKPVT

$PPQFSBUJWB -B .PSBM

.ÞTJDB

1FMtMÓDVMB

530#"%" % */5&3$"/7* %& 1-" 26&4 %& $"7" %F B IPSFT B MB TBMB E BDUFT EF M FOUJUBU

" -" 4"-" % "$5&4 %& -" $001&3" 5*7" -" .03"- .Á4*$" &/ 7*6 B MFT IPSFT " MB NJUKB QBSU IJ IBVSË CFSFOBS QFS B UPUIPN

-0/%3&4 o800-' i-BT IFSNBOBT #PMFOBw %JS +VTUJO $IBEXJDL BNC /BUBMJF 1PSUNBO J 4DBSMMFU +PIBOTTPO #BTBEB MB OPWFMtMB EF 1IJMJQQB (SFHPSZ " MFT IPSFT *OTDSJQDJØ 3FHJEPSJB EF MB %POB $3"% #BMEPNFS 4PMË

"DUVBDJØ NËHJDB " $®33&$ %&- ."( *4""$ " MFT IPSFT $$ $BO $BCBOZFT 3CMB 4U +PBO " $®33&$ %&- ."( +0"26*. ."5"4 " M )PTQJUBM 6OJWFSTJUBSJ (FS NBOT 5SJBT J 1VKPM $USB $BOZFU T O

5FBUSF i(3&"4&w &- .64*$"- 1SFTFOUBU QFMT BMVNOFT EF U $ J % EF M *&4 &OSJD #PSSËT "M $$ -B 4BMVU "W .BSRVÒT EF 4BOU .PSJ T O o QMBOUB EFM NFSDBU -B 4BMVU " MFT IPSFT 1SFV å FOUSBEB MMJVSF J å QFMT BMVNOFT

&TQBJ +PWF &910 "3(6.&/54 9 -" 1"6 5" --&3 1&3$644*» $"+»/ 130(3"." %& 3®%*0 $BTBM EF KPWFT EF 5JBOB 5FM

%JWFOESFT 9FSSBEB

#BMM

7*4*5" " -&4 #"5&3*&4 "/5*"µ3*&4 %&- 563» %& -" 307*3" * &- 3& '6(* "/5*&3* 4JUVBU BM CBSSJ EF 1PCMF 4FD QFS DPOÒJYFS DPN WB WJVSF MB QPCMBDJØ CBSDFMPOJOB FMT BUBDT BFSJT $BM JOTDSJQDJØ QSÒWJB BM .VTFV EF #BEBMPOB 1M "TTFNCMFB EF $BUBMVOZB

3VUB .BSJBOB 7*4*5" " -" 7*3(&/ %&- 1*-"3 1FSF HSJOBDJØO BM 4BOUVBSJP 7JSHFO EFM 1JMBS ;BSBHP[B SFDPSSJEP .POUTFSSBU &M 1JMBS 5PSSFDJVEBE -PVSEFT 5FM PSHBOJ[B %FMFHBEPT EFM 1BUSPOBUP EF 5PSSFDJVEBE FO $BUBMV×B

5BMMFS .ËHJB *9 '&45*7"- */5&3/"$*0/"- %& .®(*" -* $)"/( " MFT EF MB UBSEB B MB TBMB UFBUSF EF MB 4PDJFUBU $PSBM MB #BEBMPOFOTF

$BMFOEBSJ 'FTUJV $"3/&450-5&4 "- %*453*$5& )*45¾3*&4 %& 5&3303 %*4'3&44&4 * '&45" " QBSUJS EF MFT IPSFT $$ -B $PMJOB 1M 3BGBFM $BNQBMBOT T O 0SHBOJU[B KPWFT EF PO E &40 EF M *&4 7FOUVSB (BTTPM $"3/&450-5&4 "- $$ .03&3" "W #BD EF 3PEB EBUB B EFUFSNJOBS

$BNQJPOBU &YDVSTJPOJTNF i45 *4$-& %& 7"--"-5"w ,. 4035*. " -&4 )03&4 " .BTOPV .BUBSØ "SFOZT EF .BS 4U 1PM 4U $FCSJË 5 "SFOZT EF .VOU "SFOZT EF .BS .BUBSØ .BTOPV

5FBUSF .ËHJB

$BMÎPUBEB 1PQVMBS

i4&$3&54w %&- ."( -"3* " EF EF MB UBSEB J B MFT EFM WFTQSF "M UFBUSF ;PSSJMMB 1SFV å

i-" 53"/4'03."$*» %& -" '"±"/" ."3¶5*." .0503 % 6/ 130+&$5& %& $*65"5w 1FS 'SBODFTD -ØQF[ (VBSEJPMB &Y SFHJEPS E VSCBOJTNF EF #BEBMPOB -MPD 'ËCSJDB "OÓT EFM NPOP B MFT IPSFT 0SHBOJU[B "TTPD WFÕOT 'SPOU .BSÓUJN EF #BEBMPOB

'FTUB EF $BSOBWBM

5BMMFS .ËHJB " $®33&$ %&- ."( +0"26*. ."5"4 B MFT IPSFT $$ %BMU MB 7JMB (FSNË #FSOBCÏ

" -" 1-"±" 4"/5 +0"/ " 1"35*3 %& -&4 )03&4 %&4'*-"%" %& (&14 * #"-- " -" 1-"±" 0SHBOJU[B $FOUSF 3FDSFBUJV J $VMUVSBM EF .POUHBU J "TTPD EF WFÕOT $BTD "OUJD

$PODFSU

&TQBJ +PWF

i63#"/ 30054w 3&(("& B MFT I FOUSBEB MMJVSF $$ %BMU MB 7JMB (FSNË #FSOBCÏ

4PSUJEB

" -" 4"-" % "$5&4 %& $001&3"5*7" -" .03"- " -&4 )03&4 #"-- %& $"3/&450-5&4 BNC NÞTJDB FO WJV " MB NJUKB QBSU QJDB QJDB FTQFDJBM

$"-±05"%" 1016-"3 " -&4 )03&4 " -" 1-"±" ."--0326*/&4 .0/5("5 1SFV å TPDJ J å OP TPDJ o %SPHVFSJB "SB (FSNBOT "W .FEJUFSSËOJB

"- 10-*&41035*6 .6/*$*1"- " -&4 )03&4 ".# &- (361 40- %& /*5 )J IBVSË YPDPMBUBEB &OUSBEB BEVMUT å FOUSBEB HSBUVÕUB GJOT BMT BOZT 0SHBOJU[B 3FHJEPSJB EF $VMUVSB

5FBUSF i 1 " / 0 3 " . " % & 4 % & - 1 0 / 5 w % "35)63 .*--&3 1SFTFOUB M PCSB FM HSVQ 5PSYB EF #BSDFMPOB "HSP 5FBUSF " EF EF MB UBSEB BM $ÓSDPM $BUÛMJD 4 "OBTUBTJ 5FM

#BMM EF HFQT

%JMMVOT $BTUFMMFST #BEBMPOB 5"--&34 $"45&--&34 "- $"4"- %& +07&4 %& 5*"/" "ESFÎBUT B KPWFT E FOUSF J BOZT &MT UBMMFST UJO ESBO VOB QBSU UFÛSJDB J VOB EF QSËDUJDB " QBSUJS EF EJNBSUT EF GFCSFS UBNCÏ TFSBO FMT EJNBSUT EF B IPSFT B MB

&910 "3(6.&/54 9 -" 1"6 #FSF OBS J GFTUB EF $BSOFTUPMUFT $BTBM EF KPWFT EF 5JBOB 5FM

2VF OP TF UhFTDBQJ %JTTBCUF .ËHJB 4FDSFUT .BH -BSJ Ï NFNPSJBM -J $IBOH %JTTBCUF 5FBUSF ;PSSJMMB

%JWFOESFT 5BMMFS 5BMMFS EF NËHJB $FOUSFT DÓWJDT $ (FSNË #FSOBCÏ

QBH JOEE

727 %DGDORQD

%JNBSUT 7BSJT &/ $"5"-® --&(*. * 1"3-&. /0 &45&. ."* 40-4 $0/µ*9&3 .*26&- ."35¶ * 10- "NC .POUTF (PNJ[ *OTDSJQDJØ 3FHJEPSJB EF MB %POB $3"% #BMEPNFS 4PMË

5BMMFS .ËHJB " $®33&$ %& -" ."(" +0"/" "/ %3&6 B MFT I #JCM -MPSFEB "W $BUBMVOZB CMPD

%JNFDSFT 5BMMFS E &TDSJQUVSB i/07&4 )*45¾3*&4 /064 $0/5&4w *OJDJ EF UBMMFS E FTDSJQUVSB DSFBUJWB J JMtMVTUSBDJØ EF SFMBUT CSFVT *OTDSJQDJØ 3FHJEPSJB EF MB %POB $3"% #BMEPNFS TPMË

&TDPMB 0mDJBM *EJPNFT #BEBMPOB

#&26&4 * &45"%&4 " 1"¸404 "/ (-¾'0/4 " MFT IPSFT $JDMF FTDPMB PGJDJBM JEJPNFT #BEBMPOB "W .BSRVÒT EF .POU 3PJH

5BMMFS .ËHJB " $®33&$ %& -" ."(" +0"/" "/ %3&6 B MFT IPSFT #JCM 4BOU 3PD "W $POHSÏT &VDBSÓTUJD T O

$JOFNB (FOU (SBO

130+&$$*» %& 5*&33" : -*#&35"% EF B I $$ -B 4BMVU "W .BSRVÒT EF 4BOU .PSJ o DBOU $ 2VFWFEP

&TQBJ +PWF 5"--&3 #*+65&3*" $BTBM EF KPWFT EF 5JBOB 5FM

-FDUVSB

MB 6OJWFSTJUBU EF #BSDFMPOB " M FTDPMB EF .BS B MFT IPSFT 3BNCMB

i%0/&4 -&$503&4w /&$&44*5&. 70-6/5®3*&4 1&3 " --&(*3 )J IBVSË DVST EF GPSNBDJØ FO MFDUVSB ESBNBUJU[BEB 1SPKFDUF TPDJBM J DVMUVSBM 3FHJEPSJB EF MB %POB $3"% #BMEPNFS 4PMË

5BMMFS .ËHJB " $®33&$ %& -" ."(" +0"/" "/ %3&6 B MFT IPSFT #JCM $BO $BTB DVCFSUB .PTTÒO "OUPO " $®33&$ %&- ."( 4&3(*0 B MFT I #JCM 1PNBS "W 1SJNFS EF .BJH T O " $®33&$ %&- ."( %"7*% (&-0/$) B MFT I $$ MB $PMJOB 1M 3BGBFM $BNQBMBOT T O *9 '&45*7"- */5&3 /"$*0/"- %& .®(*" -* $)"/( $$ -B $PMJOB 1M 3BGBFM $BNQBMBOT T O

5BMMFS (FOU +PWF */*$*"$*» " - "-&."/: /P DBM UFOJS DPOFJYFNFOUT QSFWJT QFS JOTDSJVSF T 'JOT EJMMVOT EF NBSÎ 5PUT FMT EJMMVOT EF B IPSFT BM $*3&+ D .BSJOB

&YDVSTJPOT

&TQBJ +PWF

1"3$ &¾-*$ %&- 1&3&--» &YDVSTJØ E VO EJB *OTDSJQDJØ %JMM J %ND EF B I 0SGFØ #BEBMPOÓ .BSJOB

5"--&3 1&3$644*» DBKØO 'FN QSP HSBNB SËEJP $BTBM EF KPWFT EF 5JBOB 5FM

WLDQD

%VSBOU MB TFUNBOB

4PSUJEB &426*"%" %*44"#5& %& '&#3&3 $BMESË JOTDSJVSF T IJ BNC EJFT E BOUFMBDJØ QMBDFT MJNJUBEFT $BTBM EF KPWFT EF 5JBOB 5FM

&YQPTJDJPOT &9104*$*» i.*/*"563&4w %& .*26&- 1"%*--&4 'PUPHSBGJFT EFM NØO OBUVSBM $PNQPTJDJPOT DSFBUJWFT FO FM NÏT QFUJU EFUBMM 'JOT EJKPVT EF GFCSFS $$ $BO $BOZBEØ D 1PNQFV 'BCSB T O &9104*$*» 130(3²4 *."5(&4 1&3 " -" .&.¾3*" .ÏT EF USFT DFOUFT GPUPHSBGJFT RVF MFT FOUJUBUT J MFT GBNÓMJFT EFM CBSSJ FOT IBO EFJYBU &T QPESË WJTJUBS EJMM END J EJW EF B IPSFT J END J EJW EF B IPSFT 'JOT EJKPVT EF GFCSFS $PPQFSBUJWB MB .PSBM (àFMM J 'FSSFS

5BMMFST 5"--&34 53*.&453"-4 (3"56¸54

5BSEBT EF B IPSFT $BMESË JOTDSJVSF T IJ BNC EJFT E BOUFMBDJØ 5"--&34 #*+65&3*" ."26*--"5(& 5SBOTGPSNB MB UFWB SPCB 1FSDVTTJØ i$BKØOw $BTBM EF KPWFT EF 5JBOB 5FM

$JOFGÛSVN %*6.&/(&4 " -&4 )03&4 $"4"- %& +07&4 %& 5*"/" 5FM

&9104*$*» i(®.#*" $".*/"w 'P UPHSBGJFT EF EJWFSTPT WJBUHFT B (ËNCJB GFUFT QFS 8VBTV ,BGP (ËNCJB 'JOT EJTTBCUF EF GFCSFS $$ %BMU MB 7JMB (FSNË #FSOBCÏ

9FSSBEFT 26µ .&/(&. 9&33"%" 40#3& "-*.&/5"$*» B DËSSFD EF 9BWJ $PSFMMB *OGFSNFS

$FOUSF EF %PDVNFOUBDJØ

%JKPVT &YQPTJDJØ i-" %*/®.*$" %& -" 4033" %& -&4 1-"5(&4 &- $"4 %& #"%"-0/"w " DËSSFD EF +PSEJ 4FSSB 3BWFOUØT EPDUPS FO HFPMPHJB QSPGFTTPS UJUVMBS EF (FPMPHJB EF

i%& 053" ."/&3"w $"45&--® --&(*5 * &4$3*5 #®4*$ &/ $-"6 %& (µ/&3& 'JOT +VOZ EF B I *OTDSJQDJØ 3FHJEPSJB EF MB %POB $3"% #BMEPNFS 4PMË

²4 7&3*5"5 )0 )& 7*45 1&3 -" 5&-& 9&33"%" 40#3& &-4 ."44 .&%*" B DËSSFD EF 9BWJ 3PESÓHVF[ 4PDJÛMFH .ÏT JOGPSNBDJØ $BTBM EF KPWFT EF 5JBOB 5FM

%JTTBCUF #BMMT #BMMT E F $BS OBWBM B N C 'V O E B D J Ø / P )BZ .BOFSB "W %PDUPS #BTTPMT -MJVSF 727 %DGDORQD

QBH JOEE

HVSDL F

.PCCB D $PMØO #BEBMPOB -B QSJNFSB BDUVBDJØ EF MB UFNQPSBEB TFSË EJVNFOHF EF NBSÎ B MB 'FTUB EF M FTQËSSFD BM CBSSJ EFM 'POEP EF 4UB $PMPNB (SOFU

%JVNFOHF 7JTJUB 7JTJUB "OÓT EFM .POP .BUÓ .VTFV EF #BEBMPOB $ &EVBSE .BSJTUBOZ

HVSDL F

FLQHPHV

$BEJMMBD 3FDPSET

&M MVDIBEPS

+VMJB

#JPQJD EF -FPOBSE $IFTT RVJFO OBDJØ FO FO 1PMPOJB Z DP NFO[Ø TV BOEBEVSB FO BM DPNQSBS FM TFMMP "SJTUPDSBU 3FDPSET RVF HSBCBCB B 4VOO ZMBOE 4MJN Z B VO EFTDPOPDJEP HVJUBSSJTUB EFM %FMUB EFM .JTTJT TJQQJ .VEEZ 8BUFST $IFTT UF OÓB MB QBSUJDVMBSJEBE EF SFDPSSFS DMVCFT Z m SNBS DPOUSBUPT FO FM BTJFOUF USBTFSP EF TV $BEJMMBD

/BSSB MB BHPOÓB QSPGFTJPOBM EF 3BOEZ i5IF 3BNw 3PCJOTPO VO MVDIBEPS RVF FO MPT B×PT IBCÓB FTUBEP FO MB DVNCSF EF MB MVDIB MJCSF QSPGFTJPOBM QFSP B×PT EFTQVÏT TPCSFWJWF DPO FYIJCJDJPOFT FO HJNOBTJPT EF JOTUJUVUPT Z FO DVBESJMÈUFSPT EF UFSDFSB DBUFHPSÓB MMFWB UJFNQP PMWJEBEP QPS TV IJKB Z FT JODBQB[ EF NBOUFOFS OJOHVOB SFMBDJØO

+VMJB UJFOF B×PT Z FT BMDP IØMJDB &T NBOJQVMBEPSB OP TF QVFEF DPOm BS FO FMMB NFOUJSPTB DPNQVMTJWB JOTFHVSB CBKP TV n BNBOUF GBDIBEB &OUSF USBHPT EF WPELB Z DJUBT EF VOB OPDIF +VMJB TPCSFWJWF DPO QFRVF×PT USBCBKPT $BEB WF[ NÈT TPMB MBT ÞOJDBT BUFODJPOFT RVF SFDJCF QSPWJFOFO EF TV BNJHP .JUDI RVF USBUB EF BZVEBSMB

%JS %BSOFMM .BSUJO 64" %SB NB NVTJDBM *OUFS "ESJFO #SPEZ +FGGSFZ 8SJHIU (BCSJFMMF 6OJPO $PMVN CVT 4IPSU #FZPODÏ ,OPXMFT

%JS %BSSFO "SPOPGTLZ 64" %SBNB *OUFS .JDLFZ 3PVSLF .BSJTB 5PNFJ &WBO 3BDIFM 8PPE &SOFTU .JMMFS

%JS &SJDL ;PODB 'SBODJB %SBNB *OUFS 5JMEB 4XJOUPO 4BVM 3V CJOFL ,BUF EFM $BTUJMMP "JEBO (PVME +VEF $JDDPMFMMB

7FOEB EhFOUSBEFT

4BMB

'JMN

1BTF 1BTF 1BTF 1BTF 1BTF 1BTF .BUJOBM (PMGB

7BMLJSJB 5IF 3FBEFS 4JFUF BMNBT

7JFSOFT Z EF EPNJOHP B KVFWFT &M DVSJPTP DBTP EF #FOKBNJO #VUUPO #JFOWFOJEPT BM OPSUF

4MVNEPH NJMMJPOBJSF 1VTI &M DVSJPTP DBTP EF #FOKBNJO #VUUPO &M WBMJFOUF EFTQFSBVY 6O DIJIVBIVB FO #FWFSMZ )JMMT "VTUSBMJB &M MVDIBEPS 7JFSOFT %JFUB NFEJUFSSBOFB -B EVEB

"WJOHVEB 4BMWBEPS &TQSJV *OGPSNBDJØ J SFTFSWFT #VT # # # # # / .FUSP -ÓOJB (PSH 53".CFTÛT 5 5

QBH JOEE

727 %DGDORQD

$VBOEP ZB DSFÓBNPT RVF 3PO )PXBSE QBTBSÓB B MB IJTUPSJB DPNP FM JNCÏDJM RVF BDFQUØ SPEBS &M DØEJHP %B 7JODJ TPSQSFOEF DPO FTUB NBSBWJMMPTB QFMÓDVMB EF QFSTPOBKFT Z SFDPSEBNPT FOUPODFT RVF UBNCJÏO GVF BSUÓGJDF EF QFMÓDVMBT JOPMWJEBCMFT 4QMBTI 8JMMPX `%VMDF IPHBSy B WFDFT "QPMP P $JOEFSFMMB .BO #BTVSB

4F EFKB WFS

%FKBOEP EF MBEP FM QMBOP FNPUJWP EFM SFDVFSEP EF DBSDBKBEBT Z CVFO TBCPS EF CPDB RVF EFKØ QBSB TJFNQSF 4QMBTI 'SPTU /JYPO FT EF MBSHP MB NFKPS QFMÓDVMB EF 3PO )PXBSE -B DVMQB MB UJFOF FM HVJPOJTUB 1FUFS .PSHBO RVF BEBQUB TV QSPQJB PCSB EF UFBUSP Z EFKB B )PXBSE VOB QFSJUB FO EVMDF RVF FM EJSFDUPS FT DBQB[ EF SFTQFUBS TJO NFHBMPNBOÓBT JOOFDFTBSJBT 5SBT FM 8BUFSHBUF BM GPHPTP Z EJWP %BWJE 'SPTU TF MF NFUF FOUSF DFKB Z DFKB IBDFS VOB FOUSFWJTUB BM PEJBEP 3JDIBSE /JYPO RVF SPNQB UPEPT MPT SFHJTUSPT EF BV EJFODJB UFMFWJTJWB &SSØOFBNFOUF TF IB DPNQBSBEP FTUB QFMÓDVMB DPO FM HÏOFSP QPMÓUJDP P DPO FM DJOF EF JOWFTUJHBDJØO QFSJPEÓTUJDB QFSP 'SPTU /JYPO FT VO ESBNB RVF EFTUBQB MBT NJTFSJBT Z EFCJMJEBEFT EFM IPNCSF EF NBOFSB NBKFTUVPTB -PT QFSTPOBKFT 'SPTU Z /JYPO OP TPO FM UÓQJDP FOUSFWJTUBEPS DPO IBNCSF EF HMPSJB Z FM QPMÓUJDP DPO HBOBT EF WPMWFS BM SFEJM TPO EPT TFSFT IVNBOPT HSJ TFT FYUSBPSEJOBSJPT Z DPOUSBEJDUPSJPT 1FRVF×PT Z NFHBMØNBOPT DSFÓCMFT Z GBMTPT NBOJQVMBEPSFT Z NBOJQVMBCMFT BEVMUPT BTFTJOPT DPO FM EPO EF MB QBMB CSB Z OJ×BUPT JOHFOVPT RVF TF RVFEBO

&RQFXUVR

&, 1([/ $ .

5ÓUVMP PSJHJOBM 'SPTU /JYPO /BDJPOBMJEBE &&66 6, 'SBODJB %JSFDUPS 3PO )PXBSE *OUÏSQSFUFT 'SBOL -BOHFMMB .JDIBFM 4IFFO 0MJWFS 1MBUU 7BMPSBDJØO

0CSB NBFTUSB

/P TF MB QJFSEB

#VFOB

TJO WP[ TBOTPOFT DPO BMPQFDJB Z IBTUB HOPNPT EVCJUBUJWPT RVF TF NFSJFOEBO FM NVOEP o MB DPOWFSTBDJØO UFMFGØOJDB FOUSF BNCPT BOUFT EF MB ÞMUJNB FOUSFWJTUB FT NFNPSBCMF Z QBSB DPMNP 'SBOL -BOHFMMB RVF JOUFSQSFUB B /JYPO Z .JDIBFM 4IFFO RVF IBDF MP QSPQJP DPO 'SPTU TF TBMFO FO TVT JOUFSQSFUBDJPOFT DPOUFOJ EBT DFSDBOBT Z UBO JOTPOEBCMFT RVF TVT BMNBT EJTDPSEBOUFT QBSFDFO HFNJS /P IBCMB /JYPO FM QPMÓUJDP FTUBEPVOJ EFOTF IBCMB DVBMRVJFS QPMÓUJDP RVF OPT WFOHB B MB DBCF[B &M SFGMFKP BDVTBEPS TF DPOWJFSUF FO FM NBZPS BUBRVF KBNÈT SFB MJ[BEP DPOUSB FM PGJDJP QPMJUJRVFSPy DPO VO DPSSPTJWP F JSØOJDP HJSP GJOBM SFEFOUPS FM DPSSVQUP EFMJODVFOUF Z NBMWBEP /JYPO BENJUF TV NBMJDJB TV GBMTFEBE TV IJQPDSFTÓB TV NBOJQVMBDJØO EFUBMMF QFSTQJDB[ RVF EJHOJGJDB BM NPOTUSVP Z HFOFSBMJ[B FOUSF MB QPCMBDJØO MB QSFHVOUB EF DVÈOEP OVFTUSPT QPMÓUJDPT EFKBSÈO MBT NÈTDBSBT Z WPMWFSÈO B TFS IVNBOPT $BEB QBÓT OFDFTJUB TV 'SPTU

HVSDL F

2VJFO NBUB B VO MBESØO

'SBO .FODIØO GSBO!BTINFE OFU

#BEBMPOB BDJOF .ËHJD H F . T MP O F P MUJNP FTUSFO ","3" FM Þ Y TPSUFP EF FOUSBE S F W F D UF BT EPCMFT {5F BQF *OGPSNBDJØO TPCSF FM DPODVSTP $BEB KVFWFT TPSUFBNPT FOUSBEBT EPCMFT QBSB BDVEJS B WFS DVBMRVJFS QFMÓDVMB FO MPT DJOFT .FHBDJOF .ËHJD #BEBMPOB 4J SFTVMUBT TFS VOP EF MPT HBOBEPSFT QPESÈT WFS DVBMRVJFS QFMÓDVMB FO DVBMRVJFS TFTJØO EF MVOFT B KVFWFT NFT EFTEF MB GFDIB EF TPSUFP {$ØNP TBCFS TJ IBT SFTVMUBEP HBOBEPS $BEB TFNBOB TBMESÈO MPT HBOBEPSFT EF MBT FOUSBEBT FO FM BQBSUBEP EF DJOFT EF MB TFDDJØO &TQBJ$ EPOEF QVCMJDBSFNPT MPT OPNCSFT EF MPT QSFNJBEPT

CBEBMPOB!FMUPUEJHJUBM

{$ØNP QBSUJDJQBS

DPN

MMB EF NFHBDJOF &ODVFOUSB MB FTUSF T FO VODJPT BQBSFDJEP FO VOP EF MPT BO M OPNCSF EF MB T F OP WÓB &O B JTU FTUB SFW F FM OUF EPOEF BQBSFD FNQSFTB BOVODJB EBUPT EF T Z BUP T E UV UB OÞNFSP EF SFWJT P DPSSFP FMFDUSØOJD DPOUBDUP B OVFTUSP N JHJUBM DP CBEBMPOB!FMUPUE

(BOBEPSFT TPSUFP EF FOUSBEBT EPCMFT EF MB SFWJTUB . $BSNFO :BHàF .PSFOP 9BWJFS -ØQF[ 4JVSBOB J -BVSB 4BNTP 0TNP

727 %DGDORQD

QBH JOEE

HVSDL F

QRYHWDWV PÙVLFD

1FS (JOB EF 5FSB

OOLEUHV

8#0 /144+510 #UVTCN 9GGMU .KXG #V VJG *QNN[YQQF 6O EJTD EF 7BO .PSSJ TPO TFNQSF WBM MB QFOB * NÏT TJ ÏT VO EJSFDUF DPN BRVFTU 'B BOZT RVF FT WB QVCMJDBS "TUSBM 8FFLT VO EFMT TFVT NJMMPST USFCBMMT J QFS DPO NFNPSBS M FGFNÒSJEF .PSSJTPO WB BDUVBS BM )PMMZXXPE #PXM FM OPWJFNCSF QBTTBU 6O EJSFDUF CFO GFU J CFO HSBWBU

PÙVLFD -MJTUB EhËMCVNT

1FS 4BMUBNBSUÓ -MJCSFT

8PSLJOH PO B ESFBN #SVDF 4QSJOHTUFFO &TQFSBOEP WFSUF /J×B 1BTUPSJ B×PT EFTQVÏT 3BQIBFM "NBJB .POUFSP "NBJB .POUFSP .JHVFM #PTÏ 1BQJUP

.# 51%+'6#6 .+6'4#4+# + &' 2#56 5 &' 2'.# &' 2#6#6 &' )7'405'; /CT[ #PP 5JCHHGT #4# ..+$4'5 -POESFT - FTDSJQUPSB J DPMVNOJTUB +VMJFU "TIUPO DFSDB VO UFNB QFS B MB TFWB QSPQFSB OPWFMtMB 1FS NJUKË EF MB DBSUB E VO IBCJUBOU EF M JMMB EF (VFSOTFZ FOUSB FO DPOUBDUF BNC FMT NFNCSFT E VOB DVSJP TB TPDJFUBU MJUFSËSJB OBTDVEB EVSBOU M PDVQBDJØ OB[J

-MJTUB EF DBOÎPOT $PMHBOEP EF UVT NBOPT $ #BVUF . 4ÈODIF[ $BQSJDIP EF NVKFS /J×B 1BTUPSJ 2VJFSP TFS "NBJB .POUFSP 1FUFS 1BO &M DBOUP EFM MPDP *G * XFSF B CPZ #FZPODÏ

&'.'0 5C 4QDC 'UVGUC %JSFDUF EF . F O P S D B FOT BSSJCB FM QSJNFS EJTD E B R V F T U B G P S N B D J Ø BN C 2 VJN 5PSSFT J -FO .FTRVJEB BM DBQEB WBOU $BOÎPOT TFO[JMMFT EPMDFT J BNC BJSFT NFEJUFSSBOJT 6O EJTD DBSSFHBU E JOUFSSPHBDJPOT J EF NFMBOHJB 1PQ JOUJNJTUB RVF FT EJV BSB RVF FU DPOWJEB B FTUJSBS UF B RVBMTFWPM MMPD J FTDPMUBS MPT 6O EJTD DBSSFHBU E FNPDJPOT

/144+5'; ;GCTU QH 4GHWUCN 1FS BNPS JO DPOEJDJPOBM FN WFJH PCMJHBEB B QBSMBS EFM EB SSFS USFCBMM EF .PSJTTFZ NPMU NÏT GMVJY EFM RVF T FTQFSBWB RVF OP WPM EJS RVF TJ HVJ VO EJTD IPSSPSØT TFHVFJY BQPTUBOU QFS VO QPQ FO NBKÞTDVMFT J VOFT MMFUSFT EJHOFT E FMM NBUFJY J EFM TFV OBSDJTJT NF "NC BRVFTU EJTD FM HBMÒT DPOTUBUB RVF FM HFOJBM i:PV SF UIF 2VBSSZw ÏT MB TFWB PCSB NBHOB FM RVF IB WJOHVU EFTQSÏT OP IB FTUBU JHVBM

QBH JOEE

/'0,#4 $ 8+7 /+..14 3WKO /CTSWÃU 0CVCNKC (NQTGU %1.7/0# "RVFTU MMJCSF SFDVMM UPU VO TF HVJU EF DPOTFMMT QFS WJVSF E VOB NBOFSB NÏT TBOB J OBUVSBM J WB BDPNQBOZBU EF MFT SFDFQ UFT EFM SFDPOFHVU DVJOFS 2VJN .BSRVÒT 6OB PCSB DPNQMFUB J BNFOB RVF U BKVEBSË B DVJEBS UF BNC UPU VO TFHVJU EF SFDFQUFT TBOFT J PSJHJOBMT RVF IB DPO DFCVU FM DVJOFS Eh&M TVRVFU EF M "MNJSBMM

-MJTUFT GBDJMJUBEFT QFS 1SPNVTJDBF

OOLEUHV &MT NÏT WFOVUT 1FUPOT EF EJVNFOHF 4ÓMWJB 4PMFS &TQFSBENF FO FM DJFMP .BSVKB 5PSSFT &MT IPNFT RVF OP FTUJNBWFO MFT EPOFT 4UFJH -BSTTPO -MJTUB GBDJMJUBEB QFS 4BMUBNBSUÓ -MJCSFT

%#40#8#. ,CXKGT 5QDTKPQ 4GDGEC .WEKCPK 6TCFWEKÎ FG &CXKF /QPVUGTTCV .# )#.'4# 2VBO BSSJCB FM DBSOBWBM M "OOB TF TFOU JODÛNPEB .BJ OP MJ IBO BHSBEBU OJ MB HFOUBEB OJ FM TPSPMM 1FSÛ BRVFTU DPQ VOB DPTB DBOWJBSË MB TFWB NBOFSB EF WFVSF FM NØO

$BOPOHF #BSBOFSB #BEBMPOB XXX TBMUBNBSUÓ DPN TBMUBNBSUJ!TBMUBNBSUÓ DPN

727 %DGDORQD

HO WHX FDUUHU

1MBÎB EF 1BV $BTBMT %BMU EF MB 7JMB t -B QMBÎB EF 1BV $BTBMT FYJTUFJY EFT EF NPMU BOUJD QFSÛ OP UFOJB OPN QSPQJ TJOØ RVF FSB DPOFHVEB QPQVMBSNFOU DPN B QMBÎB EF 4BOU 4FCBTUJË KB RVF ÏT VOB

QSPMPOHBDJØ EFM DBSSFS RVF QPS UB BRVFTU OPN

J MB 4FHPOB (VFSSB .VOEJBM MJ DBVTBSFO VO HSBO JNQBDUF J NPUJWBSFO RVF VUJMJU[FT MB TFWB GBNB QFS EFGFOTBS MBQBV MB MMJ CFSUBU J MFT NJOPSJFT PQSJNJEFT DPN MB DBUBMBOB

1BV $BTBMT J %FGJMMØ DPNQP TJUPS EJSFDUPS EhPSRVFTUSB J WJPMPODFMrMJTUB -B (VFSSB DJWJM

"#3"4 . $"33&3"4 . /*&50 % &MT DBSSFST EF #BEBMPOB .VTFV EF #BEBMPOB J $POTPSDJ QFS B MB /PSNBMJU[BDJØ -JOHàÓTUJDB

7*7&/%&4 &/ --0(6&3

-0$"-4 &/ --0(6&3

$"/:"%0 1M .BSJOBEB N IBC CBOZT DVJOB NFOKBEPS UFSSBTTB QL å &3/&45 --6$) IBC CBOZT DVJOB NFOKBEPS UFSSBTTFT SFOUBQMBU SFOUBEPSB OFWFSB QL å '30. ."3¶5*. IBC DVJOB CBOZ NFOKBEPS UFSSBTTB QL USBTUFS å 3".#-" IBC DVJOB CBOZ BNQMJ NFOKBEPS å 45" $0-0." .0/5*("-" IBC DVJOB NFOKBEPS CBOZT QBUJ UPU SFGPS J BNPCMBU QL MPDBM å #6'"-" +BDJOU 7FSEBHVFS IBC CBOZ DVJOB NFOKBEPS UFSSBTTFT HSBOT TFNJ OPV QPTTJCJMJUBU QL å 13*. IBC DVJOB CBOZ NFOKBEPS å 1&1 7&/563" #BMEPNFSP 4PMË IBC DVJOB TBGBSFJH CBOZ NFOKBEPS å $"4" 4UB .BSJB IBC DVJOB CBOZ NFOKBEPS QBUJ J UFSSBU å )*10-*50 -";"30 #Y N IBC CBOZT DVJOB NFOKBEPS FTUVEJ UFSSBTTB USBTUFS /06 å )*10-*50 -";"30 QSJNFS N IBC CBOZT DVJOB NFOKBEPS UFSSBTTB USBTUFS /06 å )*10-*50 -";"30 TFHPO N IBC CBOZT DVJOB NFOKBEPS CBMDPOT USBTUFS /06 å #6'"-" 4BSEBOB IBC CBOZ DVJOB NFOKBEPS UPU SFGPSNBU å $"4" $PORVFTUB IBC DVJOB CBOZ NFOKBEPS QBUJ USBTUFS å 4"-65 IBC DVJOB CBOZ NFOKBEPS TBGBSFJH UFSSBTTB å 1-"±" #"%"-0/" IBC DVJOB CBOZ NFOKBEPS SFGPSNBU å (6*'3² %Á1-&9 IBC DVJOB NFOKBEPS CBOZT å 4"#"%&-- IBC DVJOB NFOKBEPS CBOZ UFSSBTTB QL USBTUFS å "1"35".&/5 #&/*%03. IBC QFSTPOFT QL QJTDJOB å

.&3$"5 503/&3 $"4" $"/50/&3" BCBOT CBOD QMBOUFT å 1035 1BUÓ EF 7FMB N N BMÎBEB /06 å #6'"-" 4BSEBOB N PQDJPOBM PGJDJOFT BOFYFT N å "+6/5".&/5 $-05 N B DPOEJDJPOBU CBOZ UPU OPV å -0$"- %& -" 4"-65 . DBOUPOFS å 4"#"%&-- N N QBUJ å 13*. N å 30(&3 %& '-03 N å "-'0/4 9** N å 1307*%&/$*" .FSDBU 5PSOFS N QMBOUB N TPUFSSBOJ BNC NPOUBDBSSFHFT å 4*453&--4 &TUSFMMB N å --03&%" N å #6'"-" #BJMFO N å .0/5*("-" $ .JMË N N BMUFMM HVBM CBOZ å

1 - " $ & 4 % & 1" 3 , * / ( 1-"/" å #"%"-0/" 46% å (6*'3& DPUYF HSBO å

-0$"-4 &/ 7&/%" 0'*$*/" "- $045"5 "+6/5".&/5 #%/ N CBOZ J UFSSBTTB å 7*" +6-*" -0$"- N å "7%" 4"/5 4"-7"%03 N BMUFMM N å

1*404 * $"4&4 &/ 7&/%" 1&1 7&/563" (BMJMFP N IBC TVJUF CBOZT IJESPNBTTBUHF DVJOB PGGJDF UFSSBTTB DBMFGBDDJØ BTDFOTPS WFÕOT å $"4" ."4/06 IBC DVJOB QL DPUYFT USBTUFS CBSCBDPB [POB DFOUSJDB J USBORVJM MB å #6'"-" +BDJOU 7FSEBHVFS IBC CBOZ DVJOB NFOK UFSSBTTFT HSBOT TFNJ OPV QPTTJCJMJUBU QL å %Á1-&9 IBC DVJOB QL DPUYFT USBTUFS CBSCBDPB [POB DÏOUSJDB J USBORVJM MB å 130(3&4 1M &SOFTU -MVDI IBC CBOZT DVJOB NFOKBEPS UFSSBTTB QL HSBO /06 MMPHBU DPOUSBDUF BOZT å 5&*® IBC CBOZT DVJOB TBGBSFJH NFOKBEPS UFSSBTTB QFS SFGPSNBS å ;0/" 130(3&4 /07" $0/4536$$*» IBC DVJOB CBOZ NFOKBEPS UFSSBTTB OPV å ;0/" 130(3µ4 /07" $0/4536$$*» IBC BSNBSJT FODBTUBUT CBOZT DVJOB TBGBSFJH NFOKBEPS N BNQMJFT UFSSBTTFT QL USBTUFS N DMJNBUJU[BU å "64*"4 ."3$) IBC DVJOB TBGBSFJH CBOZ NFOK UPU SFGPS BNC BSNBSJT FODBTUBUT å

XXX TBMWBUBTTFTTPST DPN

"7%" 4"/5 *(/"4* %& -0*0-" #"%"-0/"

727 %DGDORQD

QBH JOEE

OD OODU

NC NNCT

GHFRUDFLÓ FRQVHOOV PRELOLDUL 5HIRUPHV MDUGLQHULD

$POTFMMT ÞUJMT QFS BKVEBS B EFDPSBS FOMMË EFMT MÓNJUT BDDFQUBCMFT TFOTF DPOWJEBS B UFOJS HSFVT SFQFSDVTTJPOT "RVFTUT TØO BMHVOT DPOTFMMT

-MBS t 6OB DPTB ÏT USBDUBS EF EFDPSBS MB TFWB OPWB MMBS J VO BMUSF DPNQMFUBNFOU EJGFSFOU ÏT RVBO T FTUË USBDUBOU EF EFDPSBS VO BQBS UBNFOU EF MMPHVFS QFS UBM RVF T BKVTUJ BM UFV FTUJM QFSTPOBM J B MFT UFWFT OFDFTTJUBUT )J IB NPMUFT MJNJUBDJPOT RVF

QBH JOEE

$POTVMUJ BNC FM QSPQJFUBSJ TJ DBOWJBS BMHVOFT DPTFT ÏT BDDFQUBCMF /P DBOWJFV NBJ VOB NJDB NÏT FOMMË EFM QVOU EF OP SFUPSO BRVFTU ÏT FM QSJODJQJ NÏT TJN QMF J MB SFHMB NÏT JNQPSUBOU RVF IBT EF UFOJS FO DPNQUF BCBOT EF DPNFOÎBS BNC MB EFDPSBDJØ EF M BQBSUBNFOU 0CUFOJS FM QFSNÓT EFM QSP Q JFU BS J J QSP D F E JS FO D P O TFRàÒODJB -B NBKPSJB EF MFT WFHBEFT BTTVNJN RVF OP FOT TFSË QFSNÒT GFS GPSBUT BEEJDJPOBMT QJOUBS MB MMBS NÏT FOMMË EFM SFDPOFJYFNFOU EFM QSPQJFUBSJ FUD

EFUFSNJOFO MFT DPOEJDJPOT FO RVÒ QPUT EFDPSBS FM UFV OPV BQBSUBNFOU TPWJOU BRVFTUFT NPEJmDBDJPOT ÏT NPVFO FO VOB mOB MÓOJB RVF TFQBSB FM RVF FT QFSNFU NPEJmDBS J FM RVF SFBMNFOU WPMT NPEJmDBS $ P N Q P E S Ó F N F N Q Ò O Z F S BRVFTUB MÓOJB VOB NJDB NÏT

4JODSPOJU[B BNC MB EFDPSBDJØ BDUVBM 4J OP QPUT DBOWJBS M FTUJM EFT QSÏT E BOBS B QBSMBS BNC FM QSPQJFUBSJ JOUFOUB JODPSQPSBS

727 %DGDORQD

MP BM QSPDÏT EF MB EFDPSBDJØ TJ QPEFV UPSOBS B VUJMJU[BS QJO UVSB P QBQFS UBQÓT QFS DBOWJBS MFT QBSFUT B DPOUJOVBDJØ VT QFSNFUSË TFS NÏT DSFBUJVT 4J OP ÏT BJYÓ JOUFOUB OP QSFPDV QBS UF NBTTB KB RVF MB NBKPSJB EFMT BQBSUBNFOUT ÏT QPU KVHBS BNC MB MMVN J MFT PNCSFT QFS NJMMPSBS M FTUJM EF MB EFDPSBDJØ QFS UBOU MB NBKPSJB EFMT UFVT NPCMFT BOJSBO CÏ BNC FMM "DDFTTPSJT ÞOJDT QFS BGFHJS WJEB /JOHÞ OP QPU PCMJHBS UF B USJBS FMT UFVT BDDFTTPSJT BGFHJS HFSSPT PCSFT E BSU GPUPHSB m FT FUD RVF EPOJO WJEB B MFT

OD OODU

B G F H J S V O O P V B T Q F D U F B M BQBSUBNFOU -B JMtMVNJOBDJØ ÏT VO BTQFDUF GPOBNFOUBM RVF QPU BMUFSBS QFS DPNQMFU M BTQFDUF E VO FTQBJ FYJT U F O U - F T P Q D J P O T R V F M B JMtMVNJOBDJØ BDUVBM FOT PGFSFJY TØO UBO HSBOT RVF TFNQSF QPUT USPCBS RVFMDPN QFM QBUSØ E JMtMVNJOBDJØ USJBU $PMtMPDBDJØ EF NPCMFT J QBSUJDJPOT UFNQPSBMT +B RVF OP QPEFN BMUFSBS FMT BDUVBMT NVST EF MB DBTB TJ QPEFN DSFBS MFT OPTUSFT QSÛ QJFT QBSUJDJPOT NJUKBOÎBOU MB DPMtMPDBDJØ EF QBSFUT EF QBS UJDJØ UFNQPSBM BM QJT "RVFT UFT TØO GËDJMT EF USPCBS GË DJM EF QPTBS J OP GBO NBMCÏ M FTUSVDUVSB EF M IBCJUBUHF % BRVFTUB NBOFSB QPEFN BGFHJS VOB OPWB IBCJUBDJØ J DSFBS MB OPWB JNBUHF RVF EFTJUHFN

QBSFUT 1FS UBOU TPV MMJVSFT E BOBS B MB CPUJHB NÏT QSP QFSB J DPNQSBS FMT BDDFTTPSJT RVF DPOTJEFSFV PQPS UVOT 4FNQSF IJ IB MMPD QFS DJTUF MMFT EF WÓNFU J FTQFMNFT RVF BGFHFJYFO VOB NJSBEB DËMJEB J BNJTUPTB

&NNBHBU[FNBS UPU FM RVF USÒJFN BNC DVSB "JYÛ QPU TFNCMBS YJNQMF QFSÛ TJ PCMJEFN HVBSEBS UPUFT MFT DPTFT RVF USÒJFN QFS QPTBS FMT OPTUSFT BDDFTTPSJT BSSJ CBSË FM EJB RVF FOT NVEFN J BM OP HVBSEBS BRVFTUT PCKFD UFT QPEFO GFS RVF FM QSPQJFUBSJ FOT PCMJHVJ B BCPOBS MPT /P IFN EF MMFOÎBS RVFMDPN RVF SFFNQMBDFN

1BUSPOT E JMtMVNJOBDJØ J BDDFTTPSJT NPWJCMFT "MHVOFT QBSUT EF M IBCJUBUHF MËNQBEFT EF QBOUBMMB QFS FYFNQMF QPEFO TFS SFFN QMBÎBEFT VUJMJU[BOU BDDFTTPSJT EFM UFV HVTU /PTBMUSFT QPEFN DSFBS FM OPT USF QSPQJ QBUSØ E JMtMVNJOBDJØ EF MB TBMB KB RVF BKVEB B

-01&;

(JNBG:L => <HL>K

&GUGODWUUQU $WKFCVIG FG RQWU #PWN NCEKÎ FG HQUUGU K OCNGU QNQTU 4GRCTCEKÎ K OKNNQTC FGN ENCXGIWGTCO

63(µ/$*&4 'PSB EhIPSBSJ -BCPSBM J 'FTUJVT

9(17$ < 5(3$5$&,Ï1 5(&2*,'$ $ '20,&,/,2

$BMJG FNQSFTBSJBM OÞN

$YG -XDQ 9DOHUD % /$ 6$/8' %$'$/21$ 7HO

$ 1SPHSFT /BWF *OEVTUSJBM #"%"-0/" 727 %DGDORQD

QBH JOEE

OD OODU

,JETMPWFEFTJHO EJTTFOZ EF NPCMFT QFS B OBEPOT J OFOT

-MBS t "SB FMT OFOT FT DPO WFSUFJYFO FO BQBTTJPOBUT EFM EJTTFOZ EFT EF NPMU QFUJUT -B UFOEร ODJB BDUVBM NBSDB RVF FMT NP CMFT E FMT Nร T QFUJUT PGFSFJYJO VOB ร NQMJB HBNNB EF EJTTFOZT EJWFS UJUT BNC NPMU DPMPS J RVF FMT Nร T QFUJUT QVHVJO HBVEJS OF TFOTF NBTTB QSFPDVQBDJPOT "RVFTU QSPHSBNB EF MB NBSDB LJETMPWFEFTJHO OP OPNร T QSP QPTB QFMT OFOT SFFEJDJPOT EF EJTTFOZ DMร TTJD TJOร UBNCร NPCJMJBSJ DPOUFNQPSBOJ DSFBU FTQFDJBMNFOU QFS BMT OPTUSFT m MMT

IPZ QSFP EPT QMB[PT N P N `$ O DP FMP F

Z Qร HV

3&'03."4 &/ (&/&3"#-*/%"%"4 r */5&3*03&4 "-5*--04 r .63"-&4 $0$*/"4 r #"ยบ04 1"326&5 r "-6.*/*0 .6&#-&4 " .&%*%" #BMEPNFS 4PMร #BEBMPOB 5FM 'BY

.BUFSJBMT QFS B MB DPOTUSVDDJร

+0"/ $"/"-4 "OUPOJP #PUFZ r # " % " - 0 / " *OTUBMBDJPOFT Z 3FQBSBDJPOFT "HVB HBT Z &MFDUSJDJEBE "RVFTUB WFSTJร FO NJOJBUVSB EF MB DBEJSB $BTBMJOP FODBO UBSร BMT TFVT m MMT BNC FM TFV BDPMPSJU EJTTFOZ

.BUFSJBM &Mร DUSJDP t 'POUBOFSร B t (SJGFSร B t 5VCFSร B 1Mร TUJDP t #SJDPMBKF t "[VMFKPT t 1BWJNFOUPT t $FNFOUPT t 1JOUVSBT t 0CSB FO HFOFSBM

%JTTFOZBUT QFS 2VJO[F J .JMร BRVFTU EJTTFOZ FTUร BNC DPMPST EJGFSFOUT )J IB NPCMFT QFS B UPUT FMT HVTUร T < > ,JETMPWFEFTJHO DPN

QBH JOEE

727 %DGDORQD

-MBS t 4FHÞO MPT FYQFSUPT MBT UFOEFODJBT EF MB QSØYJNB UFNQPSBEB QSJNBWFSB WFSBOP TFHVJSÈO USFT MÓOFBT QBSBMFMBT EFOPNJOBEBT 7FSBOP /BWZ #FMMF EF 1SPWFODF Z 3FWPMVDJØO *OEVTUSJBM TFHÞO TF USBUF P VO DIBMFU FO MB QMBZB VOB DBTB EF DBNQP P EF VO QJTP FO MB DJVEBE

#FMMF EF 1SPWFODF -BT n PSFT JOVOEBO MBT NFTBT SFWJTUFSPT CBOEFKBT DBKBT DP KJOFT &M FTUJMP QSPWFO[BM WVFMWF DPO GPSNBT SFOPWBEBT DPNCJ OBOEP MPT NPUJWPT n PSFBMFT EF MPT NVFCMFT Z PCKFUPT DPO MBT FTDFOBT DBNQFTUSFT EFM TJHMP 97*** EF MPT FTUBNQBEPT 5PJMF EF +PVZ

3FWPMVDJØO JOEVTUSJBM -PT NVFCMFT EFM IPHBS VSCBOP TPO EF USBWJFTBT EF NBEFSB DPNCJOBEBT DPO NFUBM OFHSP -BT NFTBT SFDVFSEBO MPT BTJFO UPT EFM USBOWÓB FM UJFNQP FTUÈ NBSDBEP QPS MPT FOPSNFT SF MPKFT EF MBT FTUBDJPOFT EF USFO EF MPT B×PT WFJOUF &M QBTBEP WVFMWF QFSP DPOKVHBEP DPO MB WBOHVBSEJB FO GPSNBT Z NBUF SJBMFT

OD OODU

#MBODP HSJT Z HSBOBUF TPO MPT DPMPSFT EF VO WFSBOP B SBZBT

7FSBOP /BWZ -BT SBZBT WVFMWFO QBSB EFDPSBS FM WFSBOP FTUB WF[ FO CMBODP HSJT Z HSBOBUF $FTUBT DBCPT NBSJOPT BNBSSFT CPZBT Z SFEFT SFDSFBO DPO TVT GPSNBT Z DPMP SFT FM NBS EFOUSP EFM IPHBS < > XXX FYQPIPHBS DPN 'VFOUF 'PJNQFY

6GTTC\CU [ EWDKGTVCU 4GJCDKNKVCEKÎP FG HCEJCFCU 4GJCDKNKVCEKÎP FG GFKſ EKQU CNWOKPQUQU 6CDKSWGU RNWXKCNCGU 2CVKQU FG NWEGU $CLCPVGU &GUCI×GU

-B QSJNFSB CPUJHB EF #BEBMPOB FTQFDJBMJU[BEB %FUBMMT QFS $BTBNFOUT CBUFKPT DPNVOJPOT BOJWFSTBSJT JOBVHVSBDJPOT EF CPUJHVFT FUD

7&/%&4 "- ."+03 * %&5"- '"#3*$"$*» 13¾1*"

OU FOUB DJ 1SFT TU BOVO O V F BRV UJOESFV UF PC EF E

5".#² %*4104&. %& 505 5*164 &/ 1BSUJDJQBDJPOT EF OPDFT &TUBNQFT EF DPNVOJØ 5BSHFUFSJB

$ 1SPWJEÒODJB 1M 1FQ 7FOUVSB BM DPTUBU .FSDBU 5PSOFS 5FM J 'BY #BEBMPOB

727 %DGDORQD

QBH JOEE

',5(&725, OODU

OD OODU

6UFO 4JMP

3&'03.&4 1*/503 130'&4*0/"- &$0/».*$0 )BDF UPEP UJQP EF QJOUVSBT FTUVDBEPT WFOFDJBOPT 1SFTVQVFTUPT TJO DPNQSPNJTP 5&-

&/ "26&45 %*3&$503* 1&3 /0.²4 å

3,1725(6 352)(6,21$/(6

$POTUSVDDJØO Z 3FGPSNBT 4FHVSJEBE Z DPOGJBO[B

"/6/$*"h5

3BNCMB #BEBM O &OUMP 5FM JOGP!BMVNJOJPTJTZSFGVFS[PT DPN XXX BMVNJOJPTJTZSFGVFS[PT DPN

GH &21),$1=$ \ (&21Ð0,&26 $OWD GHFRUDFLyQ \ SLQWXUD HQ JHQHUDO 3LVRV HVFDOHUDV ORFDOHV

2)(57$ 3LQWDPRV VX SLVR SRU ½

7(/

1"-&5"

$2%6!: 3 , /BRA NUEVA

$PDJOBT CB×PT UFSSB[BT GBDIBEBT QPSUFSÓBT CBKBOUFT UFDIPT IVNFEBEFT FUD 1SFTVQVFTUPT TJO DPNQSPNJTP

2EFORMAS INTEGRALES DEL HOGAR BA×OS COCINAS FACHADAS PLADUR IMPERMEABILIZACIONES

-MBS t 6UJMJU[FV VO EJTTFOZ E FNNBHBU[FNBUHF RVF T IB QSPWBU UBOU QFS MB TFWB GVO DJPOBMJUBU J FM TFV FTUJM EFT EF MB EÒDBEB EF 6UFO 4JMP ÏT VOB JDPOB EF M FEBU EF QMËTUJD PO FT WB EFT DPCSJS BRVFTU NBUFSJBM QFM EJT TFOZ E BSUJDMFT EF NPEB

FAX "ARCELONA JUANVAZQUEZLARA GMAIL COM

5FM 3&1"3"$*0/4

3$/(7$ /$03,67$

3(56,$1$6 - $ 5HSDUDFLyQ LQVWDODFLyQ \ PRWRUL]DFLyQ QR FREUDPRV GHVSOD]DPLHQWRV

5HDOL]R WRGR WLSR GH UHIRUPDV &RFLQDV %DxRV 6XHORV 7HFKRV GH SOD GXU 3LQWXUD 0XHEOHV GH FRFLQD 3XHU WDV GH LQWHULRU $UPDULRV HPSRWUDGRV (WF 3UHVXSXHVWRV VLQ FRPSURPLVR

7HO

7HO ."/:&3*"

//2&6 , (63$,6

6(55$//(5

/] PKX \OZK\KMSYX] K NYWSMSVS NO \OSbO] NO PO\\Y ZY\^O] PY\TK ZKXc] O^M

Â 5HIRUPHV L UHKDELOLWDFLRQV HQ JHQHUDO Â &RQVWUXFFLy REUD QRYD Â 5HJDOHP FpGXOD G KDELWDELOLWDW

MPF VHUUDOOHU#JPDLO FRP

7(/ L

7(/

$0/'&$$*»

18(9$ &216758&&,Ð1 < 5()250$ ,17(*5$/

$UUHJORV GH WRGD SUHQGD GH YHVWLU \ FRQIHFFLRQHV D PHGLGD 5RSD GH ¿ HVWD 3ULPHUD &RPXQLyQ \ 1RYLDV

&RFLQDV EDxRV \HVRV SLQWXUDV HQ JHQHUDO FDUSLQWHUtD GH PDGHUD \ DOXPLQLR SDUTXHW ODPSLVWHUtD 5DPyQ L (VFROj

&M 7JUSB %FTJHO .VTFVN IB USFU BM NFSDBU VOB DÛQJB EF M PSJHJOBM 6UFO 4JMP EFMT BOZT UBOU QFS B MB TFWB DVJOB P QFM TFV CBOZ 6UFO 4JMP NPT USB VOB EPU[FOB EF QFTFT PO DPMtMPDBS UPUT FMT VUFOTJMJT QFS DPCSJS MFT TFWFT OFDFTTJUBUT o EFT EF UJTPSFT B HSBQBEPSFT FJOFT QFS BM DBCFMM DVMMFSFT SBUMMBEPST FUD - 6 U F O T J M P Ï T V O B G P S N B E FNNBHBU[FNBUHF BNC VO FTUJM QSPQJ < > )JWF.PEFSO DPN

QBH JOEE

& *XLIUp Â 7HO %$'$/21$

7HO

('%#4'

$55(*/26 (1 35(1'$6 'H YHVWLU QDSD \ SLHO

% /GTEÂ P Ŗ 6GNH $#&#.10#

727 %DGDORQD

OD OODU

NNC4

(/(&7520$57, 6 /

5SPCB FMT NJMMPST FTQFDJBMJTUFT EF MB MMBS

"%"15".04 -" "/5&/" $0-&$5*7" "- /6&70 4*45&." 5HSDUDFLyQ GH ODYDGRUDV IULJRULÀ FRV FDOHQWDGRUHV FRFLQDV KRUQRV HQFLPHUDV HWF ,QVWDODFLRQHV GH $LUH $FRQGLFLRQDGR $YGD 0DUWL 3XMRO %DGDORQD

7HO

5 % 5

13&4616&450 4*/ $0.130.*40

5FM -JT[U Z $PMM J 1VKPM #"%"-0/"

"MVNJOJPT ("-*-&0 4 -

4*/ 450 16& .* 4 0 6 4 13 & .130 $0

$BSQJOUFSÓB .FUÈMJDP $BSQJOUFSÓB .FUÈMJDB

$ 3PHFS EF 'MPS O #"%"-0/" 1ÈHJOB 8FC XXX CBEBXFC DPN HBMJMFP & NBJM HBMJMFP!CBEEBXFC DPN r 4JTUFNBT &VSPQFPT FO WFOUBOB DPSSFEFSB QSBDUJDBCMF Z QFSJNFUSBM r .BNQBSBT EF CB×P FO UPEPT MPT DPMPSFT

727 %DGDORQD

QBH JOEE

5FM 'BY

r 1FSTJBOBT FO "MVNJOJP UÏSNJDP Z QMÈTUJDP r 7JESJP EF DÈNBSB $MJNBMJU B×PT HSBOUÓB

r 5PEP UJQP EF -BDBEPT DPMPSFT NBEFSBT

`/0 .& 5*3& QVFEP TFSMF ÞUJM

DFWXDOLWDW

HVSRUWV -B 1FOZB BSSJCB B MB $PQB EFM 3FJ BNC HBOFT EF SFQFUJS UÓUPM 2VBSUT EF m OBM %JKPVT J EJWFOESFT EF GFCSFS %JKPVT B MFT I 3FJBM .BESJE 3FHBM ' $ #BSDFMPOB %JKPVT B MFT I 5BV $FSÈNJDB 1BNFTB 7BMÒODJB

B BU

%JWFOESFT B MFT I 6OJDBKB (SBO $BOËSJB I %JWFOESFT B MFT &TUVEJBOUFT %, 7 +07&/565

4FNJm OBMT %JTTBCUF EF GFCSFS I B MFT I J B MFT #BEBMPOB t &M %,7 +PWFOUVU EFGFOTBSË FM USP EF MB $PQB EFM 3FJ BDPOTFHVJEB B 7JUÛSJB BSB GB VO BOZ /P IJ TFSË OJ M .71 3VEZ 'FSOÈOEF[ OJ FM UÒDOJD RVF WB GFS QPTTJCMF FM TPNOJ "ÓUP QFSÛ TJ RVF IJ TFSË MB SFTUB - FRVJQ WFSE J OFHSF FT QSFTFOUB B .BESJE TFOTF QSFTTJØ J BNC MB DPOm BOÎB RVF MJ FTUBO EPOBOU FMT SFTVMUBUT FO VOB UFNQPSBEB BNC NPMUFT EJm DVMUBUT QFS DVMQB EF MFT MF TJPOT 3JDLZ RVBUSF NFTPT J MFT CBJYFT EFMT EPT QSJODJQBMT GJUYBUHFT RVF IBWJFO EF TFS FMT HSBOT SFGFSFOUT FO BUBD 1PQT .FOTBI #POTV J #SBDFZ 8SJHIU &M QSJNFS PCTUBDMF FO M BWFOUVSB EFM %,7 +PWFOUVU B MB DPQB TFSË M &TUVEJBOUFT BRVFTU EJWFOESFT B MFT QFS 57 &MT EPT FRVJQT KB T IBO FOGSPOUBU EVFT WFHB EFT BRVFTUB UFNQPSBEB BNC WJDUÛSJB QFMT WFSE J OFHSFT FO FMT EPT BTTBMUT " MB QSJNFSB WPMUB B #BEBMPOB MB 1FOZB WB HVBOZBS JO FYUSFNJT NFOUSF B MB QJTUB EFM 5FMFGÛOJDB "SFOB FM USJPNG EFMT EF 4JUP

QBH JOEE

"MPOTP WB TFS NPMU DMBS - &TUVEJBOUFT FT WB DMBTTJm DBS QFS MB DPQB EFM SFJ DPN B FRVJQ BNm USJØ *OJDJBMNFOU OPNÏT VO EFMT EPT FRVJQT EF MB DJVUBU .BESJE J &TUVEJBOUFT QPEJFO DMBTTJm DBS TF DPN B BNm USJPOT QFSÛ FM GFU RVF FM DMVC CMBOD FT DMBTTJm RVFT FTQPSUJWBNFOU WB GFS RVF FMT EFM 3BNJSP EF .BF[UV FOUSFTTJO EF GPSNB BV UPNËUJDB &M QSJODJQBM NBMEFDBQ EFM DPOKVOU EF -VJT $BTJNJSP ÏT QFSÛ MB MMJHB "$# - &TUVEJBOUFT BSSJCB B MB DJUB FONJH EF MB QSFT TJØ EF MFT QPTJDJPOT EF EFTDFOT KB RVF FT USPCFO B OPNÏT EVFT EFSSPUFT EF MB QFOÞMUJNB QMBÎB MB RVF PDVQB FM 7JWF.FOPSDB 5FÛSJDBNFOU QFSÛ FM GFU RVF OPNÏT CBJYJ VO FRVJQ GB CBT UBOU JNQSPCBCMF FM EFTDFOT EFMT NBESJMFOZT RVF FO M ÞMUJNB KPSOBEB EF M "$# WBO TVQFSBS DMBSBNFOU FM $"* EF 4BSBHPTTB 6O BMUSF EFMT BUSBDUJVT EF MB DPQB ÏT M IJQPUÒUJD EVFM FOUSF "ÓUP (BSDÓB 3FOFTFT UÒDOJD EF M 6OJDBKB J 4JUP "MPO TP %F NPNFOU FM NFTUSF MJ IB HVBOZBU FMT EPT QBSUJUT RVF IBO

FJ 'JOBM EF MB $PQB EFM 3 %JVNFOHF EF GFCSFS B MFT I

EJTQVUBU B M "$# 1FS QSPEVJS TF BRVFTU EVFM M 6OJDBKB IBVSJB EF TVQFSBS FM (SBO $BOËSJB J MB 1FOZB B M &TUVEJBOUFT &M 5BV EF 7JUÛSJB QBSUFJY B MB NBKPSJB EF USBWFTTFT DPN FM HSBO GBWPSJU QFSÛ FM #BSÎB J FM .BESJE UBNCÏ BSSJCFO FO VO HSBO NPNFOU EF GPSNB 6O BMUSF EFMT BUSBDUJVT EF MB DJUB TFSË 3JDLZ 3VCJP RVF FO DBT EF GFS VOB DPNQFUJDJØ FYDFMtMFOU J FMT SFTVMUBUT QFM +PWFOUVU UBNCÏ BDPNQBOZJO FT QPESJB DPOWFSUJS FO FM QSJNFS KVHBEPS EF MB IJTUÛSJB RVF ÏT M .71 EF MB DPQB HSBO EFTQSÏT EF TFS IP EF MB NJOJ DPQB KB GB DJOD BOZT &M WFSE J OFHSF DFO USBSË CPOB QBSU EF MFT NJSBEFT EFMT NPMUT TDPVUT RVF IJ IBVSË EF M /#" B MFT HSBEFSJFT $PM MBCPSBDJØ FTQFDJBM EF 9BWJ #BMMFTUFSPT

727 %DGDORQD

&M #BEBMPOB USFV VO FNQBU EFM $BNQ EFM 4BOU "OESFV

3JDLZ 3VCJP DPOEVFJY MB 1FOZB B MB WJDUÛSJB B (SBOBEB

DFWXDOLWDW

$BSMFT $BSWBKBM

t *NBUHF EFM QBSUJU FOUSF MB 1FOZB J $# (SBOBEB QFOZB DBU

#BEBMPOB t *NQPSUBOU WJDUÛSJB PCUJOHVEB EJVNFOHF B (SBOBEB PO QFS TJTFOB UFNQPSBEB DPOTF DVUJWB WB BDPOTFHVJS HVBOZBS FO VOB QJTUB NPMU DPNQMJDBEB IP WB GFS QFS B (SBO QMBOUF KBNFOU EFGFOTJV FM RVBM WB JN QPTBS 4JUP "MPOTP TPCSF FM NJMMPS KVHBEPS MPDBM $VSUJT #PSDIBSEU 5BOU .PJTP DPN )EF[ 4POTF DB IP WBO EFGFOTBS EF GPSNB FYDFMtMFOU VOB EFGFOTB RVF WB DPOUBS BNC BKVEFT EFMT KVHBEPST FYUFSJPST &M QJWPU BNFSJDË FT WB RVFEBS FO OPNÏT QVOUT &M %,7 WB KVHBS BNC QBDJÒODJB FO

#BEBMPOB t &MT FTDBQVMBUT WBO UPSOBS B FWJEFODJBS EJTTB CUF QBTTBU BM $BNQ EFM 4BOU "OESFV EF #BSDFMPOB RVF UÏ TFSJPTPT QSPCMFNFT QFS USPCBS MB QPSUFSJB J UFOJS PQPSUVOJUBUT EF GFS HPM - FNQBU B WB TFS FM SFTVMUBU EFmOJUJV E VO QBSUJU FOUSF EPT SJWBMT EJSFDUFT RVF FTUBWB NPMU NBSDBU QFM GFU RVF FM QBSUJU T FNNBSDBWB FO FMT BDUFT EF DFMFCSBDJØ EFM $FOUFOBSJ EF M FRVJQ EFM CBSSJ EF 4BOU "OESFV "NC BRVFTU FNQBU B FM #BEBMPOB TV NB BSB NBUFJY QVOUT J TF TJUVB B MB TFUFOB QPTJDJØ B EFM QMBZ PGG ²T QSFDJTBNFOU FM 4BOU "OESFV M ÞMUJN FRVJQ RVF PDVQB QMBÎB EF QMBZ PGG -B OPUÓDJB QPTJUJWB EFM QBSUJU FT RVÒ M FRVJQ FTDBQVMBU MJ IB HVBOZBU M BWFSBHF QBSUJDVMBS B VO SJWBM EJSFDUF DPN FM 4BOU "OESFV &M #BEBMPOB KVHBSË BRVFTU EJVNFOHF BM $BNQ EFM $FOUFOBSJ B MFT I EBWBOU M "U #BMFBS

BUBD NFOUSF RVF QSBDUJDBWFO FM DPOUSBBUBD QFS B JOUFOUBS DBOTBS BM QJWPU MPDBM -B 1FOZB WB KVHBS BNC VO BMU OJWFMM EAJOUFOTJUBU J WB UFOJS FODFSU FO FM MMBOÎBNFOU FYUFSJPS BOPUBOU VO UPUBM EF USJQMFT 4 IB EF EFTUBDBS FM EPNJOJ UPUBM TPUB FMT DÒSDPMT PO FM %,7 WB DBQUVSBS VO UPUBM EF SFCPUT 3JDLZ 3VCJP WB TFS FM MÓEFS EF MAFRVJQ BOPUBOU QVOUT BNC VOB WBMPSBDJØ EF "RVFTUB WJDUÛSJB QFSNFU RVF MB 1FOZB QSFQBSJ FM QBSUJU EF RVBSUT EF MB $PQB BNC VO CPO FTUBU BOÓNJD

3VEZ GB VO CPO QBQFS BM DPODVST E FTNBJYBEFT #BEBMPOB t 3VEZ 'FSOÈOEF[ OP WB UFOJS TPSU FO MB TFWB QBSUJDJQB DJØ FO FM DPODVST E FTNBJYBEFT EF M "MM 4UBS - FY WFSE J OFHSF IB FTUBU FM QSJNFS FVSPQFV B QBSUJDJQBS IJ QFSÛ OP FT WB QP EFS DMBTTJmDBS QFS B MB mOBM 1FS

DPNFOÎBS 3VEZ WB GFS VOB FT NBJYBEB EFEJDBEB B 'FSOBOEP .BSUÓO FM QSJNFS FTQBOZPM RVF WB KVHBS B M /#" J RVF DPN FMM UBNCÏ IP WB GFS BMT #MB[FST &M HVBOZBEPS WB TFS FM KVHBEPS EFMT ,OJDLT /BUF 3PCJOTPO

ÁOJD (JNOËT B #BEBMPOB FYDMVTJWBNFOU GFNFOÓ 4JTUFNB TFOTF IPSBSJT EF B I 1SPHSBNFT QFSTPOBMJU[BUT %JWFSTJØ J 3FTVMUBUT

HQ W V $ERQDP HV ¼ D O P H G V H G

5POJmDBDJØ $IJ ,VOH 5BOHP 1JMBUFT 727 %DGDORQD

QBH JOEE

$ 1SJN O QJT 5FMÒGPO CBEBMPOB! NJOVUPT OFU XXX NJOVUPT OFU

DFWXDOLWDW

(O FDUUHU GHO PDU

%BWJE 3BNPO

"WVJ B MFT T FTUSFOB i&M $BSSFS EFM .BSw B 5FMFWJTJØ #BEBMPOB

5PU WB DPNFOÎBS BRVFMM FT UJV EF GB BOZT RVBO KVTU QSPQPTËWFN BNC VO FQJTPEJ QJMPU DSFBS MB QSJNFSB UFMFTÒSJF CBEBMPOJOB "NC FMT BOZT MB QSPEVDUPSB WB GFS TF BNC FM OPN EF MB TÒSJF J FM QSPKFDUF RVFEBWB QSFTFOUBU PmDJBMNFOU DPN i&M $BSSFS EFM .BSw )BO QBTTBU BOZT NFTPT EJFT QFSÛ mOBMNFOU BWVJ MB QPESFN WFVSF B MB QFUJUB QBOUBMMB B USBWÏT EF 5FMFWJTJØ #BEBMPOB J HSËDJFT BMT QBUSPDJOBEPST RVF M IBO GFU QPTTJCMF )BO FTUBU NPMUFT MFT FNQSFTFT RVF IBO DPMtMBCPSBU BNC FM QSPKFDUF J NÏT E VOB TFJYBOUFOB EF QFS TPOFT IJ IBO QBSUJDJQBU

i&M $BSSFS EFM .BSw B MB YBSYB

QBH JOEE

+B QFS BDBCBS OPNÏT FTQF SFN RVF BRVFTUB OJU UPUFT MFT CBEBMPOJOFT J CBEBMP OJOT HBVEFJYJO EF MB TÒSJF EF MB TFWB DJVUBU QFOTBEB QFS B FMMT J QFSRVÒ IJ QBT TJO VOB NPMU CPOB FTUPOB WFJFOU MB

-B TÒSJF FTUB QFOTBEB QFS B MB UFMFWJTJØ QFSÛ FMT TFVT DSFBEPST UBNCÏ IBO QFOTBU BQSPGJUBS FMT EJGFSFOUT SF DVSTPT RVF PGFSFJY JOUFSOFU QFS B QPEFS DPOOFDUBS BNC FM QÞCMJD "M XFC XXX FMDB

$63404 (3"56¸54 QFS B USFCBMMBEPST FO BDUJV J BVUÛOPNT B #"%"-0/"

$0.15"#*-*5"5 #®4*$" 1)0504)01 0'*.®5*$" (3"'0-0(*" 1MBDFT MJNJUBEFT

5BNCÏ HSËDJFT B M BDPSE BNC #BEBMPOB $PNVOJDBDJØ J 5F MFWJTJØ #BEBMPOB BRVFTU EJ WFOESFT EF GFCSFS QPESFN WFVSF MB TÒSJF -B QSJNFSB FNJTTJØ TFSË VOB QSF FTUSFOB B MFT IPSFT EFTQSÒT EFM #BEBMPOB /PUÓDJFT J B MFT FO FM TFV IPSBSJ IBCJUVBM "JYÓ DBEB EJWFOESFT EVSBOU TFUNBOFT QPESFN TFHVJS MFT WJWÒODJFT EFMT QSPUBHPOJTUFT EFM TFSJBM UFMFWJTJV NÏT CB EBMPOÓ 727 %DGDORQD

SSFSEFMNBS DPN IJ USPCBSFN J O G P S N B D J Ø B N C M B T Ò S J F TJOPQTJT IJTUÛSJB EFMT EJ GFSFOUT QFSTPOBUHFT GJUYFT UÒDOJRVFT J VO NVOU EF DP TFT NÏT 5B N C Ï D P O U J O V B S Ë P C F S U M FTQBJ CMPD XXX FMDBSSFS EFMNBS CMPHTQPU DPN PO E F G P S N B N Ï T E J O Ë N J D B T BOJSË JOGPSNBOU EF MFT EB SSFSFT OPWFUBUT 1FSÛ BWVJ EJB VO OP ÏT OJOHÞ TJ OP UÏ VO FTQBJ BM 'BDFCP PL 1FS BJYÛ MB TÒSJF UBNCÏ UÏ FM TFV QSPQJ FTQBJ B MB YBS YB T P D J BM T PU B F M O P N E F i &M $BS SFS E F M . BS M B TÒSJFw "MMË J QPESFV EJS IJ MB WPTUSB DPN UBNCÏ SFCSF FM CVUMMFUÓ EF OPUÓDJFT B UPUT BRVFMMT RVF FT GBDJO GBOT EFM HSVQ

.ÏT JOGPSNBDJØ J JOTDSJQDJPOT B 'FEFSBDJØ &NQSFTBSJBM EF #BEBMPOB

5FMÒGPO

&RPHUÇ SURSHU HO FRPHUÇ GH FDVD

WHQGÈQFLHV

VGPFÇPEKGU -PT UPOPT ÈDJEPT BMFHSFT Z MMBNBUJWPT TFSÈO MPT QSPUBHPOJTUBT EF MB QSØYJNB UFNQPSBEB EPT DPO UPEP UJQP EF BCB MPSJPT #BOEPMFSBT P CPMTPT EF NBOP JODPSQPSBO NBUF SJBMFT DPNP UFMB QMÈTUJDP P NJNCSF EF UPOPT ÞOJDPT P FTUBNQBEPT B×PT A < > XXX FYQPIPHBS DPN -PMB $BTBEFNVOU EJTF×P EF NPEB

5FOEÒODJFT t &O MB UFNQPSB EB QSJNBWFSB WFSBOP M B Q F E S FSÓB M P T D S J T U B M F T 4XBSPWTLJ Z MBT MFOUFKVFMBT EFDPSBSÈO QSFOEBT Z DPN Q M F N F O UP T S F B M J[ BE P T F O NBUFSJBMFT WBQPSPTPT Z FO UPOPT BMFHSFT F JOUFOTPT DPO QSFEPNJOJP EF GVDTJB B[VM FMÏDUSJDP Z OBSBOKB -B CJTVUFSÓB FT PWFS TJ[F EF FTUJMP OFP CBSSPDP

'20Ë1(&+

NBMUBEPT P NF[DMBT EF NB UFSJBMFT EF GJCSBT OBUVSBMFT Z BDFSP EPSBEP P QMBUFBEP 6OB HSBO SJRVF[B EF DPM HBOUFT EF EJGFSFOUFT UBMMBT UBNB×PT GPSNBT Z DPMPSFT EFDPSB QJF[BT JNQPSUBOUFT RVF OP RVJFSFO QBTBS EFT BQFSDJCJEBT

-2,(56

-PT DJOUVSPOFT TPO EF FTUJMP OFP IJQQZ Z TF BEBQUBO B MB DBEFSB P B MB DJOUVSB &M DVF &O BOJMMPT DPMMBSFT QVM SP TF DPNCJOB DPO MPT DSJT TFSBT Z QFOEJFOUFT CSJMMBO UBMFT 4XBSPWTLJ Z MB IFCJMMB Q J F E S B T E F D P M P SF T W J WP T NBOUJFOF TV QSPUBHPOJTNP UVSRVFTB MBWBOEB WFSEF FO UPOPT NVZ OBUVSBMFT P FTNFSBMEB P OBSBOKB Z DSJT MJMB B[VM Z GVDTJB JOUFOTPT UBMFT USBOTQBSFOUFT &O MPT EJTF×PT NÈT BUSFWJEPT MBT -PT CPMTPT TJHVFO DPO MB QJF[BT TF D P OWJFS UFO FO UFOEFODJBw99-w EF HSBOEFT NPTBJDPT EF NFUBMFT FT EJNFOTJPOFT Z PSOBNFOUB

3FMPK 'FTUJOB 0SP -FZ EF DBCBMMFSP QPS å B×PT EF HBSBOUÓB 3ODoD 3HS 9HQWXUD 7HO

$0.#"5*.04 -" $&-6-*5*4

3&"'*3.".04 56 $6&310

5& ":6%".04 " 1&3%&3 1&40 $6*%".04 56 304530

& 4 5 " # " 4

'050%&1*-"$*»/ .6+&3 1JFSOBT & *OHMFT

å å å DPOTJTUF FO MB DPN 1JFSOBT & *OHMFT "YJMBT -BCJP 4VQFSJPS "YJMBT å CJOBDJØO EF FKFSDJDJP "YJMBT *OHMFT 1VCJT å "YJMBT *OHMFT å GÓTJDP Z USBUBNJFOUPT

/VFTUSP TJTUFNB 1JFSOBT & *OHMFT 1VCJT

& 4 1 & 3 " / % 0

QBH JOEE

`Á-5*." 1*&;" &/ 450$,

13&1"3" 56 $6&310 1"3" &- #6&/ 5*&.10 $*3$6*50 %& 7&$&4 103 4&."/" 103 å "- .&4

0 2 6 &

727 %DGDORQD

0'&35»/ %&- .&4

DPSQPSBMFT QBSB DPN CBUJS MPT QSPCMFNBT FTUÏUJDPT EF GPSNB SÈ QJEB DØNPEB Z TFHVSB

)0.#3& 1FDIP $PNQMFUP &TQBMEB $PNQM FUB 1FDIP $PNQMFUP #SB[PT 5ØSBY P "CEPNFO -VNCBSFT 1FDIP $PNQM -VNCBSFT

å å å å

/PT FODPOUSBSBT FO

$ $FSWBOUFT -PDBM FTRVJOB $ *OEVTUSJB #"%"-0/" 5FMG

%&1*-"4&3

-" 5&$/0-0(*" .²4 "7"/±"%" " 13&64 */$3&¸#-&4 1"$,4 130.0$*0/"-4 &OHPOBMT BJYFMMFT å .JUHFT DBNFT JOGFSJPST FOHPOBMT å $BNFT TFODFSFT FOHPOBMT BJYFMMFT å .JUHFT DBNFT TVQFSJPST FOHPOBMT å 1JU BCEPNFO å 1JU BJYFMMFT å 1JU FTRVFOB å 1JU BCEPNFO BJYFMMFT å

--6. 10-4"%" -®4&3 "-&+"/%3*5" "QUF QFS B QFMMT GPTRVFT "CEPNFO BCEPNFO å "JYFMMFT BYJMBT å "OVT BOP å "SÒPMB BSFPMB å #BSCB NBTDVMJOB CBSCB NBTDVMJOB å #SBÎPT EPOB CSB[PT NVKFS å #SBÎPT IPNF CSB[PT IPNCSF å $BNFT TFODFSFT QJFSOBT FOUFSBT å $MBUFMM OVDB å $PMM DVFMMP å %JUT EFEPT å &OHPOBMT JOHMFT å &OUSFDFMMB FOUSFDFKP å &TQBUMMB IPNCSPT å &TRVFOB DPNQMFUB FTQBMEB DPNQMFUB å

*OUFHSBM JOUFHSBM å -ÓOJB BMCB MÓOFB BMCB å -ÓOJB CJRVJOJ MÓOFB CJLJOJ å -MBWJ JOGFSJPS MBCJP JOGFSJPS å -MBWJ TVQFSJPS MBCJP TVQFSJPS å .FOUØ NFOUØO å .JUHFT DBNFT JOG NFEJBT QJFSOBT JOG å .JUHFT DBNFT TVQFSJPST TFOTF FOHPOBMT å NFEJBT QJFSOBT TVQ TJO JOHMFT

/BUHFT HMÞUFPT å 0SFMMFT PSFKBT å 1BUJMMFT QBUJMMBT å 1JU QFDIP å 1ÛNVMT QØNVMPT å 3FHJØ MVNCBS MVNCBSFT å

1SFVT QFS TFTTJØ UBSJGFT 1307" (3"56¸5"

EFQJMBTFS CBEBMPOB JOEE

4PN FTQFDJBMJTUFT FO 5SBDUBNFOUT MËTFS 7JOF J DPNQSPWB IP

&/ %&1*-"$*»

4&44*»

'JOT FM

'0505&3®1*" &45µ5*$" 3FKPWFOJNFOU DVUBOJ GBDJBM 3FKVWFOFDJNJFOUP DVUÈOFP GBDJBM

5BTRVFT $FSBUPTJ 4PMBST 3PTËDJFT .BODIBT 2VFSBUPTJT 4PMBSFT 3PTÈDFBT

-FTJPOT WBTDVMBST $BQJMrMBST USFODBUT - F TJP O F T WB T D V M B SF T $B QJM B SF T SP U PT

5FOTBU GBDJBM 5FOTBEP GBDJBM

1PUFT EF HBMM 3JDUVT 1FSJMBCJBMT 'MBDDJEJUBU 1BUBT EF HBMMP 3JDUVT 1FSJMBCJBMFT 'MBDJEF[

*/5&(3"3FKPWFOJNFOU DVUBOJ GBDJBM 5FOTBU GBDJBM 3FKVWFOFDJNJFOUP DVUÈOFP GBDJBM 5FOTBEP GBDJBM

'PUPUFSËQJB BDOF TFTTJPOT

'PUPUFSBJB BDOÏ TFTJPOFT å

%&1*-"4&3 #"%"-0/" $ 4BOU +PBRVJN $BOUPOBEB $ .BS

1®326*/( (3"56¸5

XXX EFQJMBTFS FT

)PSBSJ %JMMVOT h B h I %JNBSUT B %JWFOESFT h B h I %JTTBCUFT h B h I

."5"3» (*30/" (3"/0--&34 #"%"-0/" 3&64 5"33"(0/" --&*%" $FOUSFT %FQJMBTFS EF QSPQFSB PCFS UVSB

EFQJMBTFS CBEBMPOB JOEE

PHGLFLQD

OGFKEKPC

IDUPÁFLHV GH WRUQ FRQVHOOV PHWJHV VDOXW

1SFTFOUFO MB QSJNFSB WBDVOB PSBM DPOUSB M BMrMÒSHJB BM QPMrMFO 4BMVU t -FT QFSTPOFT BMrMÒS HJ RVFT BM QPMrMFO KB UFOFO VO SF NFJ NÏT DÛNPEF QFS B MB TFWB NPMÒTUJB -B QSJNFSB WBDVOB PSBM DPOUSB BRVFTUB BMrMÒSHJB T IB DPNFOÎBU B DPNFSDJBMJU[BS B &TQBOZB TPUB FM OPN EF (SB [BY J T IB QSFTFOUBU FO GPSNB EF DPNQSJNJUT RVF FT EJTTPMFO SËQJEBNFOU B MB CPDB J RVF TØO BQUFT QFS BMT QBDJFOUT BEVMUT RVF UFOFO DPOKVOUJWJUJT BUÛQJDB UJOHVJO P OP BTNB FO FOUSBS FO DPOUBDUF BNC M BMrMFSHPHFO "RVFTUB JNNVOPUFSËQJB TVQPTB VO QBT FOEBWBOU FO MB NBUÒSJB KB RVF DPOUSJCVJSË B iNJMMPSBS FOPSNFNFOUw M BEIFSÒODJB EFMT BMrMÒSHJDT BM USBDUBNFOU RVF m OT

BWVJ FODBSB IBO EF USBTMMBEBS TF BM DFOUSF NÒEJD QFS QPTBS TF JOKFDDJPOT VO EJB SFSF M BMUSF -B WBDVOB DPTUB FVSPT QFSÛ DPN RVF MB 4FHVSFUBU 4PDJBM FO m OBOÎB VO FMT VTVBSJT QPESBO BERVJSJS MB QFS FVSPT B MB GBSNËDJB &MT USFCBMMT SFBMJ U[BUT BNC BRVFTU NFEJDBNFOU JOOPWBEPS IBO DPOGJSNBU RVF MB SFTQPTUB DMÓOJDB BSSJCB NPMU SËQJEBNFOU J RVF VO EFMT QBDJFOUT FT USPCFO NJMMPS P NPMU NJMMPS RVF BCBOT EF DPNFOÎBS FM USBDUBNFOU RVF FMT TÓNQUP NFT NJOPSFO VO J RVF MFT OFDFTTJUBUT EF USBDUBNFOU TJTUF NËUJD EF SFTDBU NJOWFO VO 5PU J RVF OP TF O IB EFUFDUBU

DBQ FGFDUF BEWFST HSFV FM EFMT QBDJFOUT IBO SFMBUBU RVF OPNÏT FO MB QSJNFSB TFUNBOB OPUBWFO VO MMFV QJDPS B MB CPDB PÕEFT J HPMB RVF EFTBQBSFJYJB BCBOT E VOB IPSB &M EPDUPS 1FESP (VBSEJB DBQ EF MB 4FD DJØ EFM 4FSWFJ E *NNVOPMPHJB J "MrMÒSHJB EF M )PTQJUBM 7JSHFO EF MB .BDBSFOB EF 4FWJMMB IB JOEJDBU RVF B &TQBOZB m OT B VO EF MB QPCMBDJØ UFOFO BMHVOB NFOB E BMrMÒSHJB (VBSEJB IB BQVOUBU RVF B DBVTB EF MB EJWFS TJUBU DMJNBUPMÛHJDB E &TQBOZB MFT DPNVOJUBUT EFM DFOUSF EF MB QFOÓOTVMB TØO MFT RVF DPNQUFO BNC NÏT VTVBSJT QPUFODJBMT EF M BOUÓEPU

$MÓOJDB %FOUBM 130 %&/5 $&/53& %h*.1-"/50-0(*" 0%0/50-0(*" "7"/±"%"

1JPOFST B &TQBOZB FO JNQMBOUT EFOUBMT EhVOB TPMB GBTF %S +PSEJ *[RVJFSEP $VTQJOFSB r %PDUPS FO PEPOUPMPHJB DPMrMFHJBU OÞN r .ËTUFS FO *NQMBOUPMPHJB J 3FIBCJMJUBDJØ PSBM QFS &VSPQFBO 4DIPPM PG 0SBM 3FIBCJMJ UBUJPO *NQMBOUPMPHZ BOE #JPNBUFSJBMT /FX :PSL 6OJWFSTJUZ $PMMFHF PG %FOUJTUSZ r .FNCSF GVOEBEPS ,MPDLOFS *NQMBOUT 4ZTUFN

QBH JOEE

$ %hFO 1S JN #BJ YPT #"%"-0/" 5FM

'JOBODJBDJØ B MB QSÛQJB DMÓOJDB

727 %DGDORQD

JXÁUGLD GLÛUQD

J C J

r )PNFPQBUJB QFS BEVMUT J OFOT r #JPFOFSHÒUJDB 5SBDUBNFOU EFM EPMPS BOTJFUBU EFQSFTTJØ r 5FSËQJB QFS EFJYBS EF GVNBS BNC MËTFS BEJDDJPOT r 5SBDUBNFOU EFM TPCSFQFT QFS CJPFTUJNVMBDJØ

PHGLFLQD

IDUPÁFLHV

%SB . $"3.& 1"3²4 )0.&01"5*"

&KUUCDVG FG HGDTGT "(6*-"3 'SBODFTD -BZSFU #0*9 "W $BUBMVOZB $0/%0/ 1UHF 3JV 5FS '&33& $-"1&4 "W .BSUÓ 1VKPM (": "W .BSUJ 1VKPM (0/;"-&; +*. $BOPOHF #BSBOFSB 16$)0- $USB "OUJHB EF 7BMÒODJB 4&3&/5*-- .BS 7*":/" "W 1SFTJEFOU $PNQBOZT 7*7&4 +PBO 7BMFSB $BOU ®GSJDB

7*4*5&4 $0/$&35"%&4

7ÓB "VHVTUB #BEBMPOB

%. 0+%# &'06#.

&KWOGPIG FG HGDTGT

%S +PSEJ 5PSU $PM MFHJBU O

"(6*-"3 'SBODFTD -BZSFU #0*9 "W $BUBMVOZB $0/%0/ 1UHF 3JV 5FS '&33& $-"1&4 "W .BSUÓ 1VKPM 16$)0- $USB "OUJHB EF 7BMÒODJB 7*":/" "W 1SFTJEFOU $PNQBOZT

2'2172/2*,$ *(1(5$/ , (63(&,$/,7$76 9,6,7$ GLDJQzVWLF HVWXGL SUHVVXSRVW

3UHYHQWLYD KLJLHQH VHOODW IRVVHV L ¿ VXUHV

&RQVHUYDGRUD HQGRGzQFLD HPSDVWDPHQWV HVWqWLFV

3UzWHVLV IXQGHV SRQWV FRPSOHWHV (VTXHOqWLFV SDUFLDOV

(VWqWLFD EODQTXHMDPHQW FDULOODV

,PSODQWRORJLD JDB P 'JOBODJBDJØ B MB QSÛQJB DMÓO 2UWRGzQFLD NFOU BNC 7JTB

&GN &KNNWPU FG HGDTGT CN &KXGPFTGU FG HGDTGT

QBHB

"(6*-"3 'SBODFTD -BZSFU #0*9 "W $BUBMVOZB $0/%0/ 1UHF 3JV 5FS '&33& $-"1&4 "W .BSUÓ 1VKPM (": "W .BSUJ 1VKPM (0/;"-&; +*. $BOPOHF #BSBOFSB 16$)0- $USB "OUJHB EF 7BMÒODJB 4&3&/5*-- .BS 7*":/" "W 1SFTJEFOU $PNQBOZT 7*7&4 +PBO 7BMFSB $BOU ®GSJDB

F ,QGHSHQGqQFLD %XIDOj %DGDORQD 7HO

40-r-6$*» %&'*/*5*7" 1&3 " -&4 1"50-0(*&4 $3¾/*26&4 ".#

0/&4 %& 90$

JXÁUGLD QRFWXUQD

5FOEJOJUJT IPNCSP DBMDJGJDBDJPOT CVSTJUJT FQJDPOEJMJUJT USPDBOUFSJUJT 'BTDJUJT QMBOUBS FTQPMPOT DBMDBOJT &WJUB JOGJMUSBDJPOT J JOUFSWFODJPOT RVJSÞSHJRVFT .ÒUPEF FGFDUJV FO TFTTJPOT &GFDUJV FO FM EFMT DBTPT

J C J FGN FKC UGI×GPV

&KUUCDVG FG HGDTGT #"5--&3*® "W .BSUÓ 1VKPM 7*":/" "W 1SFTJEFOU $PNQBOZT

&KWOGPIG FG HGDTGT

$ 4 B OU # SV #" * 90 4

%& -" 1&º" "W EFMT 7FOUT 7*":/" "W 1SFTJEFOU $PNQBOZT

&KNNWPU FG HGDTGT 4&(6¶ *TBBD "MCÏOJ[ 7*":/" "W 1SFTJEFOU $PNQBOZT

&KOCTVU FG HGDTGT (0/;«-&; +*.²/&; $ #BSBOFSB 7*":/" "W 1SFTJEFOU $PNQBOZT

(V XQ VHUYHL GLULJLW D SHUVRQHV JUDQV DXWzQRPHV DPE XQ WUDFWH DFROOLGRU L IDPLOLDU 64 0'&3*. (VWDGHV SHUPDQHQWV (VWDGHV WHPSRUDOV &DSV GH VHWPDQD 'LHV L KRUHV FRQYLQJXGHV 727 %DGDORQD

QBH JOEE

&KOGETGU FG HGDTGT 4&("33" "W "MGPOT 9*** 7*":/" "W 1SFTJEFOU $PNQBOZT

FTTBUT O JOUFS 4J FTUB B 5JBOB TP N

&KLQWU FG HGDTGT 4&3&/5*-- .BS 7*":/" "W 1SFTJEFOU $PNQBOZT

5FM

&KXGPFTGU FG HGDTGT

QSFHVOUBS QFS /ÞSJB

4"--" 4BMWBEPS 4FHVÓ 7*":/" "W 1SFTJEFOU $PNQBOZT

1MBDFT MJNJUBEFT

PHGLFLQD

6O EF OFOT J OFOFT DBUBMBOT UÏ VO CPO FTUBU EF TBMVU TFHPOT VOB FORVFTUB 4BMVU t 6O EF MB QPCMBDJØ JOGBOUJM NBOJGFTUB RVF UÏ VO CPO FTUBU EF TBMVU J FM EFMT OFOT J OFOFT RVF UFOFO FOUSF J BOZT UFOFO VO QFT OPSNBM "RVFTUFT TØO OPNÏT BMHVOFT EF MFT EBEFT RVF FT EFTQSFOFO EFMT SFTVMUBUT EF M &ORVFTUB EF 4BMVU EF $BUB MVOZB &4$" EFM RVF BRVFTU EJNFDSFT IB QSFTFOUBU MB DPOTFMMFSB EF 4BMVU .BSJOB (FMJ &O M FORVFTUB RVF QFS QSJNFSB WFHBEB JODMPV EBEFT TPCSF DPN QFSDFCFO FMT QBSFT MB TBMVU EFMT TFVT m MMT UBNCÏ FT QPTB EF NBOJGFTU RVF FM EF MB QPCMBDJØ EF B BOZT QSBDUJDB KPDT E FTGPSÎ GÓTJD P FTQPSU BNC SFHVMBSJUBU " NÏT E BDPSE BNC FMT SFTVMUBUT EF M JOGPSNF FMT OFOT DBUBMBOT NFOPST EF BOZT FTUBO NBT TB NFEJDBUT 4FHPOT IB FYQMJDBU (FMJ NÏT EFM EF MB QPCMBDJØ JOGBOUJM NBOJGFTUB RVF UÏ VO CPO FTUBU EF TBMVU YJGSB RVF TVQPTB VO BVHNFOU SFTQFDUF B MFT EBEFT EF M BOZ FO RVÒ FSB E VO &M EFMT OFOT J MFT OFOFT FOUSF J BOZT UFOFO VO QFT OPSNBM FM UFOFO TPCSFQÒT J FM TØO

PCFTPT 3FTQFDUF B M FTUJM EF WJEB FM EF MB QPCMBDJØ EF B BOZT QSBDUJDB KPDT E FTGPSÎ GÓTJD P FTQPSU BNC SFHVMBSJUBU EBWBOU VO RVF OP GB SFT &O FM UFNQT MMJVSF M BDUJWJUBU E PDJ NÏT GSFRàFOU FOUSF FMT J FMT BOZT ÏT WFVSF MB UF MFWJTJØ NFOUSF RVF KVHBS BNC WJEFPKPDT J BNC M PSEJOBEPS ÏT MB TFHPOB BDUJWJUBU NÏT GSF RàFOU FOUSF FMT J FMT BOZT &M EFMT NFOPST EF B BOZT IBO QSFT FO MB EBSSFSB TFUNBOB DBEB EJB P BMNFOZT VO DPQ BM EJB NFOKBS SËQJE CF HVEFT FOTVDSBEFT QSPEVDUFT BNC TVDSF P NFOKBST TBMBUT

MB TBMVU OP TJHVJ CPOB QFSRVÒ MB NBKPSJB EFMT GËSNBDT TØO DPOUSB TÓNQUPNFTw 1FM RVF GB B M ÞT EFMT TFSWFJT TBOJUBSJT HBJSFCÏ UPUT FMT OFOT IBO BOBU BM NFUHF DPN B NÓ OJN VO DPQ M BOZ FM B MB YBSYB QÞCMJDB J FM B VO NFUHF QBSUJDVMBS * RVBUSF EF DBEB EFV OFOT IBO BOBU B VSHÒODJFT J FO FM EFMT DBTPT B VO IPTQJUBM &M EFMT OFOT RVF WJVFO B $BUB MVOZB UFOFO VO QFEJBUSF VO NFUHF EF DBQÎBMFSB P VO DFO USF EF SFGFSÒODJB RVF FMT BUÏO IBCJUVBMNFOU DPTB RVF QFS B %F MB 1VFOUF FWJEFODJB MB HSBO BDDFTTJCJMJUBU BM TJTUFNB " USBWÏT EF M FORVFTUB T IB PCTFSWBU RVF IJ IB EJGFSÒO DJFT EF TBMVU TFHPOT MB DMBTTF TPDJBM J FM OJWFMM DVMUVSBM EF MB NBSF J RVF FMT OFOT EF GBNÓ MJFT EF DMBTTFT EFTGBWPSJEFT J BNC NBSFT BNC VO CBJY OJWFMM E FTUVEJT QFSDFCFO RVF UFOFO NFOZT TBMVU FT WFVFO FYQP TBUT BNC NÏT GSFRàÒODJB B BNCJFOUT NFOZT TBMVEBCMFT J UFOFO QJUKPST IËCJUT BMJNFOUBSJT J NÏT TPCSFQÒT J PCFTJUBU

.FEJDBNFOUT J TFSWFJT TBOJUBSJT 4FHPOT M FORVFTUB FM EFMT NFOPST VO EF DBEB USFT QSFOJB BMHVO NFEJDBNFOU EPT EJFT BCBOT RVF FMT TFVT QBSFT GPTTJO QSFHVOUBUT NÏT FMT OFOT RVF MFT OFOFT J CËTJDB NFOU BOUJQJSÒUJDT BOBMHÒTJDT QSPEVDUFT DPOUSB MB UPT BOUJ CJÛUJDT J WJUBNJOFT P NJOFSBMT FOUSF E BMUSFT QSPEVDUFT 4F HPOT .BSJOB (FMJ iBRVFTUB TJUVBDJØ OP ÏT VO JOEJDJ RVF

MBNBMMB DBU

5(6,'Ë1&,$ *(5,75,&$

)/25,'$'25$'$ 5FM 'BY $"-%&5&4 $BMEFT Eh&TUSBD

5(6,'Ë1&,$ *(5,75,&$

*$8', $FOUSF DPM MBCPSBEPS EF MB (FOFSBMJUBU

& $QWRQL *DXGt SREOH

6$17 )267 '( &$036(17(//(6

7HO

&.* 304"

5HVLGHQFLD 7HUFHUD (GDG $ +VBO 99*** 5FM 4BOU 'PTU EF $BNQTFOUFMMFT #BSDFMPOB

QBH JOEE

$PELHQW IDPLOLDU L WUDQTXLO HQ PLJ GH OD QDWXUD &DVD DPE MDUGt L WHUUDVVHV &XLQD SURSLD

t 1&/4*»/ $0.1-&5" .&%*" 1&/4*»/ : )03"4 $0/7&/*%"4 t 4&37*$*0 .²%*$0 : ."4"+*45" t 5&33";" : (3"/ +"3%¶/ t 1-";"4 -*.*5"%"4

727 %DGDORQD

14*$»-0(" /J×PT Z BEPMFTDFOUFT 5SBOTUPSOPT EFM BQSFOEJ[BKF Z P DPOEVDUB 5%") 5SBOTUPSOPT BGFDUJWPT EF QFSTPOBMJEBE Z BMJNFOUBSJPT "EVMUPT 5SBOTUPSOPT EF BOTJFEBE FTUSÏT EFQSFTJØO GPCJBT -VEPQBUÓBT Z BEJDDJPOFT TPDJBMFT 1TJDPTJT /FVSPQTJDPMPHÓB %FNFODJBT USBOTUPSOPT EFM TVF×P &WB MVBDJØO OFVSPQTJDPMØHJDB SFIBCJMJUBDJØO DPHOJUJWB

)PSBT DPOWFOJEBT

5FM

53"5".*&/50 %&- %0-03 $3»/*$0 : '*#30.*"-(*" &/'&3.&%"%&4 %&(&/&3"5*7"4 3&6.«5*$"4 : "-&3(*"4

630-0(¶" & 0DULQD %DGDORQD

1TJDPUFSBQJB 'BNJMJBS Z QBSFKB

F EPMPST NBT!HNBJM DPN $ $PMM J 1VKPM S B r #BEBMPOB

DFOUSF NÒEJD

%S 4BOUJBHP #VDBS 5FSSBEFT

PHGLFLQD

. %0-03&4 ."4 %&-#-"/$)

7JTJUBT DPODFSUBEBT

5FM

0HGLFLQD L VDOXW

'U 5DPyQ 1RYHOO L $OVLQD 6XVDQQD (VWHED L &DVWLOOR 3VLTXLDWULD 3VLFRORJLD L 1HXURSVLFRORJLD $QVLHWDW GHSUHVVLy HVTXL ]RIUqQLD WUDVWRUQV GHO VRQ WUDVWRUQV GH OD SHUVRQDOLWDW L GH OD FRQGXFWD $YDOXDFLy 3VLFROzJLFD L 3VLFRWHUDSLD 'HPqQFLHV L WUDVWRUQV PHQWDOV HQ OHV SHUVRQHV G HGDW 5HKD ELOLWDFLy FRJQLWLYD (VWLPXODFLy L 7DOOHUV GH PHPzULD 'LVFDSD FLWDW ,QWHO OHFWXDO

BOVODJB U FO BRVFTUB TFDDJØ

& )UDQFHVF 3ODQDV L &DVDOV 7HO +RUHV FRQYLQJXGHV

CBEBMPOB!FMUPUEJHJUBM DPN

%3" 304&3 .&-Á4 * .03&/0 14*26*"53" *OGBOUT +PWFT "EVMUT $ .BSJOB #BEBMPOB 5FM

$&/53& %& .&%*$*/" 53"%*$*0/"- 9*/&4"

& * &37 * 4 6 /0 . *$ * " %0

"$616/563" %*&505&3®1*" '*4*05&3®1*" ."44"5(&4

.ÏT EF BOZT E FYQFSJÒODJB FO USBDUBNFOUT EF 5SBTUPSOT NFOTUSVBMT 5SBTUPSOT FNPDJPOBMT 5SBTUPSOT SFTQJSBUPSJT

0CFTJUBU 4PCSFQÒT 1SPDFTTPT EPMPSPTPT -FTJPOT FTQPSUJWFT

$POTVMUB JOGPSNBUJWB HSBUVÕUB XXX DBSG DBU $ #BMEPNFS 4PMË #BJYPT #BEBMPOB

%BWBOU MB QBSBEB EF M BVUPCÞT EFM #% #% # # #

727 %DGDORQD

QBH JOEE

JDVWURQRPLD

ICUVTQPQOKC

UHFHSWHV UHVWDXUDQWV SL]]HULHV PHQMDUV SUHSDUDWV

4J TPV TFSWJUT /PWFT FTDPMFT EF DVJOB 'SBODFTD .VSHBEBT J #BSEJ $BUFESËUJD EF CJPMPHJB QSPGFTTPS EF HBTUSPOPNJB J BVUPS EF EJWFSTPT MMJCSFT EF DVJOB J CJPMPHJB

(BTUSPOPNJB t "SSJCFO EF MB NB E *OUFSOFU * UBNCÏ EF MB EFMT OPVT BQBSFMMT EF DVJ OB RVF EJVFO GBDJMJUBS OPT MB WJEB 1FSRVÒ BRVFTUFT PMMFT B QSFT TJØ FMÒDUSJRVFT FO FM GPOT OP TPO NÏT RVF BJYÛ RVF FOT WÏ OFO DPN TJ GPTTJO WBSFUFT NË HJRVFT J RVF TPMFO JODPSQPSBS FO VO NPNFOU P BMUSF MB QB SBVMB i$IFGw UFOFO VO QSPCMF NB &M NBOVBM E JOTUSVDDJPOT &M NBOVBM E JOTUSVDDJPOT J FM

SFDFQUBSJ BEKVOU EJHVFN IP UPU 4J FMT EF MB UFMF J M FRVJQ EF NÞ TJDB FOT BUBCBMFO BNC GSBTFT RVF OJ 1FSF (JNGFSSFS FOUFO ESJB RVF OP QBTTBSË BNC FM E BRVFTUT BQBSFMMT EF DVJOBS RVF QFS QPTUSFT FOT DBOWJFO FM QPD P NPMU RVF TBCÓFN EF GFS NFOKBS &M DBT ÏT RVF MB HFOU EFTQSÒT EFM RVF QBHB QFS UFOJS MPT RVBO VOB SFDFQUB OP MJ TVSU FT WPM EFTGPHBS * *OUFSOFU ÏT JEFBM 4FNQSF EJTQPOJCMF J PO BRVÓ FTUË MB HSËDJB TFNQSF IJ IB BMHÞ RVF FU MMFHFJY J DPN QBSUFJY MB QFOB 0 FU EPOB MB TPMVDJØ RVF ÏT FM RVF SFBM NFOU JOUFSFTTB

1FSRVÒ FM DVJOFS P DVJOFSB RVF EFTFTQFSBU MMFOÎB FM TFV QMBOZ B MB YBSYB EFTQSÒT EF CBSBMMBS TF BNC FM NBOVBM FT DPOTDJFOU RVF BMHÞ UBSE P E IPSB MJ EJSË RVF IB GFU NBMB NFOU P MB GPSNB EF NJMMPSBS IP * BJYÓ MFOUBNFOU FM GFMJÎ QSP QJFUBSJ EFM OPV BQBSFMM TVQP TBEBNFOU NËHJD QPESË BOBS GFOU MP TFV J EPNJOBOU MP 1FS UBOU KP VT FODPSBUKP B FOUSBS FO CMPHT GÛSVNT GB DFCPPLT J EFNÒT IJTUPSJFT JOGPSNËUJRVFT B QBSMBS EF DVJ OB " DPNQBSUJS MFT WPTUSFT FYQFSJÒODJFT EBWBOU E BRVFTUT BQBSFMMT * B RVF GFV TFSWJS FM MMJCSF E JOTUSVDDJPOT J FM SFDFQ UBSJ BNC NFTVSB 4FOTF EJQP

',5(&725, *$6752120,$

3HS 9HQWXUD %$'$/21$

"/6/$*"h5

7HO

&/ "26&45 %*3&$503* 1&3 /0.²4 å 3045*44&3*"

*(1(5 , )(%5(5

(67(0 '( 5(%$,;(6 0LJGLD PHQ~ GLDUL GH GLOOXQV D GLVVDEWH 'H GLOOXQV D GLMRXV ½ 'LYHQGUHV 0HQ~ GH FULVLV ½ 'LVVDEWHV ½

# ,,EØ "ADALONA

4EL

CALAMERCE

TELEFONICA NET

."3*426&3*"

623$5 6 3(5 $ *5836 (W IHP HO PHQ~ D OD WHYD PLGD O DGDSWHP DO WHX SUHVVXSRVW .BSJTDP EFM CBSDP B MB .FTB

6(59(, '( &$57$ $0% '( '(6&2037(

$PDQLGHV )XPDWV 3DWqV

)RUPDWJHV (PERWLWV LEqULFV

&DUQV D OD EUDVD 7RUUDGHV

5 $ 4BOUB 7JDUPSJB .POUHBU #$/

62&,6 ' (17,7$76 (63257,9(6 , &8/785 $/6 '( %$'$/21$ '( '(6&2037( HQ HOV WHXV VRSDUV GH 'LOOXQV D 'LMRXV

"/6/$*"h5 &/ "26&45 &41"* 1&3

2EHUW GH GLOOXQV D GLVVDEWHV 7DQFDW GLXPHQJHV L IHVWLXV

/0.²4

3UHXV DPE O ,9$ LQFOzV

QBH JOEE

727 %DGDORQD

JDVWURQRPLD

3 & 4 5 " 6 3 " / 5

4ÈCBEP ."3;0 %¶" %& -" .6+&3 53"#"+"%03" DFOB CBJMF å

TJUBS IJ NÏT FTQFSBODFT RVF MFT KVTUFT 1FSRVÒ TJ GFV DBT EFM RVF FMT GBCSJDBOUT EJVFO FO FMT GPMMFUPOT QVCMJDJUBSJT MFT TBNGBJOFT J FMT TPGSFHJUT FT GBO E VOB TFOUBEB 1PTBOU IP UPU FO GSFE * B NJ MB NFWB NBSF FN WB FOTFOZBS RVF FM QFCSPU UBSEB NÏT FO DPVSF

RVF M BMCFSHÓOJB &N QPESBO EJTDVUJS TJ MB NFWB NBSF UFOJB P OP SBØ 1FSÛ FM RVF OP FN QPESBO EJTDVUJS ÏT RVF FM NFV QBMBEBS FTUË BDPT UVNBU BM RVF TVSU EF GFS IP QFS FUBQFT 1FS NÏT RVF BSB B CB TF EF CPUPOT J QSPHSBNBEPST N IP WVMHVJO DBOWJBS

$"-±05"%&4

å .&/Á %*"3*0

5HVWDXUDQW 7tSLF

r 4FSWJDJP B MB DBSUB Z CBORVFUFT r 4BMPOFT JOEJWJEVBMFT EF B QFSTPOBT r &TQFDJBMJTUBT FO SFVOJP OFT GBNJMJBSFT HSVQPT EF FNQSFTB Z EFTQFEJEBT r .FOÞT QBSB HSVQPT EFTEF å

T OJU %JVNFOHF DBU O UB T O MV J EJM

54 "3 5 . * % /$" 5"

$BSOT B MB #SBTB BNC MMFOZB Eh"M[JOB $BSHPMT FTUJM EF -MFJEB $BSYPGFT B MB CSBTB &TQËSSFDT CMBEFST B MB CSBTB &TQBUMMB EF YBJ BM 'PSO 1FVT EF 1PSD B MB CSBTB 'JMFUT EhFTUSVÎ B MB CSBTB 'BWFUFT CBCZ TBMUFKBEFT BNC QFSOJM

$BSSFUFSB EF .FOB #"%"-0/" #BSDFMPOB

3FTFSWFT BM 5FM

.FOÞT #PEBT

å 5PEP JODMVJEP

3FTFSWFT UFMÒGPO

NFOÞ NÞTJDB Z CBSSB MJCSF

$ 'SBODFTD 1MBOBT J $BTBMT $-*&/54 #BEBMPOB

r $PNVOJPOFT EFTEF å DPO BOJNBDJØO $USB #BEBMPOB .POUDBEB ,N $BOZFU

BNBOJEFT r CPUJGBSSFT r QB EF DPDB r WJOT r YBUPOBEB r QBUÏT GPSNBUHFT r DBSOT B MB CSBTB r UBQFT r YBNQBOZFU r FNCPUJUT JCÒSJDT

3FTFSWBT

5FM

1MBÎB EF MB GPOU r #BEBMPOB 5FM r 727 %DGDORQD

QBH JOEE

FRQVXOWRUL

EQPUWVQTK NGICN

FRQVXOWRUL FRPXQLWDWV ODERUDO ILVFDO DVVHVVRULD

-B SFHVMBDJØO FO NBUFSJB EF PCSBT FO WJWJFOEBT BSSFOEBEBT &O MPT DPOUSBUPT EF BSSFOEB NJFOUPT VSCBOPT FYJTUFO VOB TFSJF EF EFSFDIPT Z PCMJHBDJP OFT EF MBT QBSUFT SFTQFDUP EF MB DPOTFSWBDJØO EF MB WJWJFOEB %FCF EJTUJOHVJSTF BM SFTQFDUP FOUSF EPT UJQPT EF PCSBT MBT OFDFTBSJBT P EF DPOTFSWBDJØO Z MBT EF NFKPSBT &O DVBOUP B MBT 0#3"4 /& $&4"3*"4 FM BSSFOEBEPS FTUÈ PCMJHBEP B SFBMJ[BS TJO EFSFDIP B FMFWBS QPS FMMP MB SFOUB UPEBT MBT SFQBSBDJPOFT RVF TFBO OFDFTBSJBT QBSB DPOTFSWBS MB WJWJFOEB FO MBT DPOEJDJPOFT EF IBCJUBCJMJEBE QBSB TFSWJS BM VTP DPOWFOJEP FYDFQUP FO BRVF MMPT DBTPT FO RVF FM EFUFSJPSP EF DVZB SFQBSBDJØO TF USBUF TFB JNQVUBCMF BM BSSFOEBUBSJP $VBOEP MB FKFDVDJØO EF VOB PCSB EF DPOTFSWBDJØO OP QVF EB SB[POBCMFNFOUF FTQFSBS IBTUB MB DPODMVTJØO EFM BSSFO EBNJFOUP FM BSSFOEBUBSJP FT UBSÈ PCMJHBEP B TPQPSUBSMB BVORVF MF TFB NVZ NPMFTUB P EVSBOUF FMMB TF WFB QSJWBEP EF VOB QBSUF EF MB WJWJFOEB 4J MB PCSB EVSBTF NÈT EF WFJOUF EÓBT FM BSSFOEBEPS EFCF DPN QFOTBS DPO MB EJTNJOVDJØO EF MB SFOUB EF NPEP RVF IBCSÈ EF EJTNJOVJS ÏTUB FO QSPQPSDJØO B MB QBSUF EF MB WJWJFOEB EF MB RVF FM BSSFOEBUBSJP TF WFB QSJWBEP $VBOEP MBT PCSBT EFCBO SFB MJ[BSTF EF GPSNB VSHFOUF QBSB FWJUBS EB×PT HSBWFT F JONF EJBUPT QPESÈ FGFDUVBSMBT FM JORVJMJOP TJFNQSF RVF TF MP

DPNVOJRVF BM QSPQJFUBSJP Z UFOESÈ EFSFDIP B RVF ÏTUF MF SFTUJUVZB TV JNQPSUF &M JORVJMJOP EFCFSÈ QPOFS FO DPOPDJNJFOUP EFM BSSFOEBEPS FO FM QMB[P NÈT CSFWF QPTJCMF MB OFDFTJEBE EF MBT SFQBSBDJP OFT Z QBSB FMMP EFCFSÈ GBDJMJUBS BM BSSFOEBEPS MB WFSJm DBDJØO EFM FTUBEP EF MB WJWJFOEB &O DVBOUP B MBT 0#3"4 %& .&+03" OP TPO OFDFTBSJBT QBSB IBCJUBS VOB WJWJFOEB QFSP NFKPSBO MB IBCJUBCJMJEBE EF MB NJTNB 4FHÞO FM BSUÓDVMP EF MB -FZ EF "SSFOEBNJFOUPT 6SCBOPT WJHFOUF MBT PCSBT EF NFKPSB DVZB FKFDVDJØO OP QVFEB SB [POBCMFNFOUF FTQFSBS IBTUB MB DPODMVTJØO EFM BSSFOEBNJFOUP FM BSSFOEBEPS RVF TF QSPQPOHB SFBMJ[BS VOB EF FTUBT PCSBT EFCFSÈ OPUJGJDBS QPS FTDSJUP BM BSSFOEBUBSJP BM NFOPT DPO USFT NFTFT EF BOUFMBDJØO MB OBUVSBMF[B FM DPNJFO[P MB EVSBDJØO Z FM DPTUF BQSPYJ NBEP %VSBOUF FM QMB[P EF VO NFT EFTEF EJDIB OPUJm DBDJØO FM BSSFOEBUBSJP QPESÈ EFTJT UJS EFM DPOUSBUP TBMWP RVF MBT PCSBT OP BGFDUFO P BGFDUFO EF NPEP JSSFMFWBOUF B MB WJWJFOEB BSSFOEBEB &M BSSFOEBNJFOUP TF FYUJOHVJSÈ FO FM QMB[P EF EPT NFTFT B DPOUBS EFTEF FM EFTJTUJNJFO UP EVSBOUF MPT DVÈMFT OP QP ESÈO DPNFO[BS MBT PCSBT &M BSSFOEBNJFOUP RVF TPQPSUF MBT PCSBT UFOESÈ EFSFDIP B VOB SFEVDDJØO EF MB SFOUB FO

QSPQPSDJØO B MB QBSUF EF MB WJWJFOEB EF MB RVF TF WFB QSJ WBEP QPS DBVTB EF BRVÏMMBT BTÓ DPNP MB JOEFNOJ[BDJØO EF MPT HBTUPT RVF MBT PCSBT MF PCMJHVFO B FGFDUVBS 1PS ÞMUJNP FM BSSFOEBUBSJP QSFWJB OPUJm DBDJØO QPS FTDSJUP BM QSPQJFUBSJP QPESÈ SFBMJ[BS FO MB WJWJFOEB BRVFMMBT PCSBT RVF TFBO OFDFTBSJBT QBSB BEFDVBS MB NJTNB B TV QSPQJB DPOEJDJØO EF NJOVTWÈMJEP P B MB EF TV DØOZVHF QBSFKB EF IFDIP P GBNJMJBSFT RVF DPOWJWBO DPO ÏM $VBOEP m OBMJDF FM DPOUSBUP TJ MP FYJHF FM BSSFOEBEPS EFCFSÈ SFQPOFS MB WJWJFOEB B TV FTUBEP JOJDJBM (BCJOFUF +VSÓEJDP )FSOÈOEF[ 7JDFOUF

DPOTVMUPSJ {2VÏ FT FM $FSUJGJDBEP EF "OUFDFEFOUFT QFOBMFT {FT OFDFTBSJP QBSB MB PCUFODJØO EFM QBTBQPSUF &T FM EPDVNFOUP RVF TJSWF QB SB EFNPTUSBS TJ B VOB QFSTPOB TF MF IB JNQVFTUP VOB EFUFSNJ OBEB QFOB QPS MB DPNJTJØO EF VO EFMJUP &O QSJODJQJP FTUF EP DVNFOUP OP TFSÈ QSFDJTP QBSB MB PCUFODJØO EFM QBTBQPSUF OJ QPS SFHMB HFOFSBM QBSB VOB TPMJDJUVE EF USBCBKP BVORVF FO EFUFSNJOBEPT TVQVFTUPT TÓ QVFEF TFS OFDFTBSJP &OWÓFOPT TVT QSFHVOUBT TPCSF %FSFDIP "ENJOJTUSBDJØO EF $PNVOJEBEFT P "TFTPSÓB IW!HBCJOFUF OFU

$ERJDGRV $FFLGHQWHV 7Ui¿ FR /DERUDOHV $GPLQLVWUDFLyQ &RPXQLGDGHV $XWyQRPRV /DERUDO )LVFDO $VHVRUHV

%FMFHBDJØO #BEBMPOB r D $PMM J 1VKPM #BEBMPOB

%FMFHBDJØO 1SFNJË r (SBO 7JB 1SFNJË

QBH JOEE

727 %DGDORQD

1MBOUJMMB#BTF JOEE

DQLPÁOLD

CPKOÀNKC

FRQVHOOV DQLPDOV GH FRPSDQ\LD YHWHULQDULV RSLQLÓ

(WNGT DGRSWD P

,630 .BDIP KPWFO DBSJ×PTP Z KVHVFUØO "TPDJBDJØO 4FHVOEB 0QPSUVOJEBE "OJNBM "QBSUBEP QPTUBM

$QLPÁOLD BOVODJB U FO BRVFTUB TFDDJØ r CBEBMPOB!FMUPUEJHJUBM DPN "RVFTU FT '6-&3 VO FOPSNF NFTUÓT KPWF 3FDPSEP QFSGFD UBNFOU FM EJB RVF FM WBO QPSUBS WFOJB NPMU FTQBOUBU J OP TF O SFmBWB EF OJOHÞ BSB BNC FM UFNQT T IB UPSOBU NPMU NÏT TPDJBCMF BNC MFT QFSTPOFT 1FM TFV BTQFDUF HSBO MB HFOU OP BDPTUVNB B mYBS TF FO FMM KB RVF OPSNBMNFOU WFOFO B WFVSF HPTTPT QFUJUT QFS QJ TPT &MM UBNQPD EFNBOB NBTTB TJ RVF ÏT WFSJUBU RVF OFDFTTJUBSJB VOB NJDB E FTQBJ QFSÛ UÏ UBO UFT HBOFT EF TPSUJS EFMT QPDT NFUSFT EF MB TFWB HËCJB RVF T BEBQUBSJB JODMÛT B VO QJT -J BHSBEB DØSSFS TPSUJS B QBT TFKBS QFMT WPMUBOUT EFM DFO USF TF M WFV NPMU GFMJÎ GPSB EF MB HËCJB 1FS MB TFWB NJEB

QBH JOEE

RVF UÏ ÏT VO HPT NPMU USBORVJM J BGFDUVØT $ P N R V B M T FWP M B M U S F H P T T IBVSË BDPTUVNBS B UV EPOBS MJ DPOmBOÎB QFS RVF FT EFJYJ WFVSF DPN ÏT FMM J FT DPNQPSUJ BNC TFHVSFUBU

',5(&725, $1,0$/,$ 1305&$503"

/; # XXX BTPB OFU "QU #BEBMPOB

"SB GB VO BOZ BQSPYJNBEBNFOU RVF WB BSSJCBS J OP QFSE MB JMrMVTJØ EF QPEFS USPCBS VOB MMBS PO MJ EPOJO FTUJNBDJØ J QV HVJ UPSOBS B SFnFDUJS VOB BMUSB WFHBEB BMT TFVT VMMT MB GFMJDJUBU EF UPSOBS TF B TFOUJS FTUJNBU /P IP QFOTFV NÏT FMM FT UË FTQFSBOU B RVF WJOHVFV B CVTDBS MP

BTPB!BTPB OFU 7&5&3*/"3* )041*5"7&5&3*/"3* - "3$"

$SFV #KT #BEBMPOB

5FM 'BY

&/$"3" )0 &45&6 1&/4"/5 "/6/$*"h5 7FSØOJDB &TRVÓT 7PMVOUBSJB "40" J $$""$

&/ "26&45 %*3&$503* 1&3 /0.²4 å

727 %DGDORQD

#"%"-0/" "-'0/40 9*** " 4&(07*"

1*404 " 1"35*3 %&

å 1 5" 4

13&$*0 1*40 $0/ 1-";" %& "1"3$".*&/50

'"$*-*%"%&4 %& '*/"/$*"$*»/ QSFDJP UPUBM IBTUB B×PT

``$VPUB NFOTVBM FRVJWBMFOUF BM DPTUF EF VO BMRVJMFS

1*404 %& )"#*5"$*0/&4 : %Á1-&9 ".1-*04 #*&/ %*4&º"%04 ;0/" 7&3%& ."(/¶'*$"4 $0.6/*$"$*0/&4 .&530 53"/7¶" : "650#64&4 "6501*45"4 .&3$"%0 461&3.&3$"%0 $&/530 4"/*5"3*0 : $0-&(*04 " .&/04 %& .*/

("3"+&4 : 53"45&304 %& 7&/5" -*#3& å : å 3&41&$5*7".&/5&

*/'»3.&4& &/ -" .*4." 0#3" -"#03"#-&4 %& ."35&4 " 4«#"%0 %& " ) : %& " ) '&45*704 %& h " )

#BSSFSB JOEE

727 PRWRU

616 OQVQT

YHK,FOHV FLUFXODFLÓ QRYHWDWV FRQFHVVLRQDULV

$*530´/ $ 1JDBTTP

.PUPS t $BSBDUFSÓTUJRVFT &M $ 1JDBTTP ÏT MB OPWB WB SJBOU EFM $ QFSÛ FO WFSTJØ NÏT QFUJUB .FEFJY NF USFT EF MMBSH N E BNQMF J NFUSFT E BMU J B M JOUFSJPS IJ IB FTQBJ TVm DJFOU QFS B DJOD QMBDFT " NÏT B NÏT FM NBMFUFS ÏT QSPV BNQMJ BNC DBQBDJUBU E FOUSF J MJUSFT EFQF OFOU EF MB QPTJDJØ EFMT TFJFOUT QPTUFSJPST

FODBSB NÏT ËHJM % FOUSF M FRVJQBNFOU EF DPO GPSU EFM WFIJDMF QPEFN QBSMBS EF MB EJSFDDJØ BTTJTUJEB WB SJBCMF M PSEJOBEPS EF WJBUHF WPMBOU BNC BKVTUBNFOU IPSJ U[POUBM J WFSUJDBM TFJFOU EFM DPOEVDUPS BNC BKVTUBNFOU FO BMUVSB TJFU QPTUFSJPS SFHVMBCMF FO JODMJOBDJØ J MMJTDBOU QFS TFD DJPOT UBODBNFOU DFOUSBMJU[BU BMÎBWJESFT FMÒDUSJDT EBWBOUFST J BJSF DPOEJDJPOBU

-B JNBUHF E BRVFTU $JUSPÑO ÏT MB EF NPOPWPMVN J QFS UBOU FM TFJFOU EFM DPOEVDUPS FTUË VCJDBU FO VOB TJUVBDJØ VO UBOU NÏT BMÎBEB %FTUBDB EF M IBCJUBDMF FM UBV MFS EF DPOUSPM VCJDBU FO FM DFOUSF BJYÓ DPN MB DBJYB EF DBOWJT RVF UBNCÏ FTUË FO VOB QPTJDJØ BMÎBEB J RVF RVF EB NPMU QSPQFSB BM WPMBOU EF NBOFSB RVF M BDDJPOBNFOU ÏT

$&/530 %& 3&$&1$*»/ 7 ' 6

%FTHVBDFT &TUBMWJB GJOT B VO FO FMT UFVT SFDBOWJT 7FOEB EF SFDBOWJT J QOFVNËUJDT OPVT J EhPDBTJØ $PNQSB EF WFIJDMFT QFS EFTCBMMBTUBNFOU 4FSWFJ EF HSVB J USBNJUBDJØ EF CBJYB (3"56*5 5FM 'BY XXX FMSFDBOWJ DPN

QBH JOEE

3&5*3".04 50%" $-"4& %& 7&)¶$6-04 53".*5".04 #"+" 53«'*$0

1HF 3PEØ J 3BNCMB 4BO +VBO #"%"-0/"

5FMÏGPOPT

727 %DGDORQD

727 PRWRU 4FHVSFUBU "MHVOT EFMT FMFNFOUT EF MB TFHVSFUBU EFM $ 1JDBTTP TØO DPJYJOT EF TFHVSFUBU GSPO UBMT QFS BM DPOEVDUPS J QFS BM QBTTBUHFS BOUJCMPRVFKB NFOU EF GSFOT "#4 BTTJTUFOU B MB GSFOBEB E FNFSHÒODJB UBODBNFOU EF TFHVSFUBU QFS BMT OFOT FO MFT QPS UFT EFM EBSSFSF mYBEPST *TPmY FO FMT TFJFOUT MBUFSBMT QPTUFSJPST EJTUSJCVDJØ FMFDUSÛOJDB EF MB GPSÎB EF GSFOBEB

LN I BDDFMFSB EF B FO TFHPOT J FM DPOTVN NJH ÏT EF MJUSFT

EPT EJÒTFM &MT CMPDT B CFO[JOB TØO M 75J EF DBWBMMT J M 75J EF DBWBMMT BNC JOKFDDJØ EJSFDUB FO UPUT EPT DBTPT &MT EJÒTFM TØO M )%J BNC QPUÒODJFT EF J DBWBMMT

%JFTFM - )%J EF DBWBMMT UÏ VOB WFMPDJUBU NËYJNB EF LN I BNC VOB BDDFMFSBDJØ EF B FO HBJSFCÏ TFHPOT J NJH &M DPOTVN WPSFKB FMT MJUSFT

#FO[JOB - EF DBWBMMT BDPOTF HVFJY VOB WFMPDJUBU QVOUB EF LN I BNC VOB BDDFMF SBDJØ EF B FO QPD NÏT EF TFHPOT J VO QSPNJH EF DPOTVN EF MJUSFT BMT RVJMÛNFUSFT - EF DBWBMMT BSSJCB B VOB WFMPDJUBU NËYJNB EF

.PUPS -B HBNNB EF QSPQVMTPST JO DMPV EPT NPUPST B CFO[JOB J

- )%J EF DBWBMMT BNC VOB WFMPDJUBU QVOUB EF LN I M BDDFMFSBDJØ EF B FO TFHPOT J FM QSPNJH EF DPOTVN EF MJUSFT BMT RVJMÛNFUSFT

"650 #6&/"7*45" 3&1"3"$*»/ (&/&3"- %&- "650.»7*-

1MBODIB t 1JOUVSB t 4FDBEP BM IPSOP .FDÈOJDB t &MFDUSJDJEBE *OEÞTUSJB #"%"-0/" 727 %DGDORQD

QBH JOEE

/HFWRUV

NGEVQTU

FDUWHV IRWR GHQÙQFLD SURWDJRQLVWD FRO ODERUDFLRQV

/HV &DUWHV GHOV OHFWRUV .FB DVMQB 4Ó DSFD RVF FM QSJNFS RVF IFN E FOUPOBS ÏT FM iNFB DVMQBw QFS OP IBWFS TBCVU USBOTNFUSF B MB SFTUB EF MB DJVUBEBOJB EF #BEB MPOB J BMT TFVT EJSJHFOUT QPMÓUJDT FO DPODSFU UPU BMMÛ QFM RVF FT WB DSFBS MB "TTPDJBDJØ EF 7FÕOT EFM 'SPOU .BSÓUJN EF #BEBMPOB -B OPTUSB BTTPDJBDJØ UÏ FM QSJWJ MFHJ EF DPNQBSUJS BNC FMT BMUSFT IBCJUBOUT EF #BEBMPOB VO USBN EF HBJSFCÏ LN EFMT BNC FMT RVBMT DPNQUB FM OPTUSF MJ UPSBM "JYÛ ÏT QFM RVF EFT EF MB TFWB DSFBDJØ WB SFQSFTFOUBS VO DPNQSPNÓT FOWFST FMT BMUSFT FM QSFPDVQBS TF J DPNQSPNFUSF T EF MB TFWB DVSB J NBOUFOJNFOU TFOU VOB EF MFT BTTPDJBDJPOT RVF FTUËWFN NÏT EJSFDUBNFOU FO DPOUBDUF BNC FM NJUKË J VO EFMT TFVT SFQUFT NÏT QSJODJQBMT #Ï DFSU ÏT RVF B NÏT DPN CBSSJ EF OPWB DSFBDJØ UFOJN VOFT OFDFTTJUBUT J QBUJN HSBOT iPCMJUTw RVF FMT SFTQPOTBCMFT EF M BENJOJTUSBDJØ FT OFHVFO FO PDBTJPOT B SFDPOÒJYFS P QSFUFO ESF EJMBUBS MB TFWB SFTPMVDJØ FO FM UFNQT EFMT RVBMT M BTTPDJBDJØ UBNCÏ T IB GFU FDP J EFGFOTB EB WBOU EFMT PSHBOJTNFT JOWPMVDSBUT FO MB TFWB QPTTJCMF SFTPMVDJØ 1FS UPU BJYÛ J DPN B DPOTFRàÒO DJB E BRVFMMB GBNPTB GSBTF EFM iEJWJEF Z WFODFSÈTw T IB GPNFOUBU M PQJOJØ RVF TPN VOT QSJWJMFHJBUT RVF TPMBNFOU GFN RVF EFNBOBS J EFNBOBS RVF FM RVF UFOJN OP TBMUSFT OP IP UFOFO FMT BMUSFT FO m RVF NÏT WBMESJB RVF DBMMÏTTJN J OP TF OT FTDPMUÏT UBOU %PODT OP TFOZPSFT J TFOZPST OP FOT RVFEBSFN USBORVJMT mOT RVF OP T FOUFOHVJ FM NPUJV J FMT SBPOB NFOUT EF MFT QFUJDJPOT t 2VBO FT EFNBOB RVF FM QBT TFJH NBSÓUJN FT SFBMJU[J FT EF NBOB QFS B UPUT FMT IBCJUBOUT EF #BEBMPOB QFSRVÒ UPUT QVHVFN HBVEJS EF QBTTFKBS BM DPTUBU EFM NBS /PTBMUSFT OP UFOJN OJ WPMFN DPMtMPDBS DBQ CBSSFSB QFS B DPCSBS QFS M BDDÏT BM RVF BMHVOT DSJEFO OPTUSF QBTTFJH NBSÓUJN

1 -FDUPST 1BH 1BH 1BH JOEE

MÓOJB E BVUPCVTPT RVF USBWFTTB FM OPTUSF CBSSJ FT QFSMMPOHVJ FO FM TFV SFDPSSFHVU J GSFRàÒODJB EF QBTTBEB QFS B QPEFS BSSJCBS EFT EF M JOUFSJPS EF #BEBMPOB GJOT BM 'ÛSVN OP FT EFNBOB TPMBNFOU QFS BMT OPTUSFT WFÕOT TJOØ QFSRVÒ RVBMTFWPM IBCJUBOU EF #BEBMPOB QVHVJ VUJMJU[BS MB J EFTQMBÎBS TF QPUTFS MMBWPST FT WFVSJB JODSFNFOUBU FM TFV ÞT J SFOEJCJMJUBU OP BUSJCVJOU BRVFTU TFSWFJ OPNÏT BMT WFÕOT EFM OPTUSF CBSSJ DPN VOB QSFCFOEB BUPSHB EB QFS B GFS DBMMBS MFT PCMJHBDJPOT RVF DPN BENJOJTUSBDJØ EFVSJFO IBWFS TF UJOHVU FO DPNQUF EFT EF M JOJDJ EFM QSPKFDUF DPN B CBSSJ 4FNCMB RVF RVBO IFN BDPOTF HVJU RVF T FTDPMUJO MFT OPTUSFT QFUJDJPOT SFGFSFOUT B BMHVOB EF MFT SFJWJOEJDBDJPOT RVF IFN SFB MJU[BU FT QSFOFO DPN NJMMPSFT RVF TPMBNFOU BGFDUFO BM CBSSJ J TF OT GB WFVSF RVF TPN BGPS UVOBUT DPN BTTPDJBDJØ QFSRVÒ FOT IBO iEPOBUw BJYÛ P BMMÛ 4J TF OT EFNBOB MB DPMtMBCPSBDJØ FO DPOTFMMT GÛSVNT J SFVOJPOT EF EFCBU DJVUBEBOT BMT RVBMT BTTJTUJN DPNQSPNFTPT QFMT OPT USFT QSJODJQJT DPN BTTPDJBDJØ OP TF OT QPU FTUBS RàFTUJPOBOU RVF BMMÛ QFM RVF FTUFN MMVJUBOU OP TJHVJ QFS BM CFOFmDJ EF UPUT OP UFOJN MB iWBSFUB NËHJDBw QFS B QPEFS EFTWJODVMBS OPT DPN B CBSSJ EFM CFOFmDJ RVF FT HFOFSB B UPUB MB QPCMBDJØ EF #BEBMPOB FO FM TFV DPOKVOU /P TF TJ EFTQSÏT E BRVFTUB MFD UVSB QPEFO IBWFS RVFEBU DMBSFT MFT OPTUSFT JOUFODJPOT &TQFSP RVF TÓ QFSÛ FM RVF TÓ UFOJN DMBS DPN B BTTPDJBDJØ TØO FMT OPTUSFT QSJODJQJT J MFT OPTUSFT HBOFT EF TFHVJS EFGFOTBOU J MMVJUBOU QFS UPU FM RVF DPOTJEFSFN OFDFTTBSJ QFS B #BEBMPOB FMT TFVT IBCJUBOUT J FM OPTUSF CBSSJ

t 2 V B O F T E F N B O F O N Ï T JOTUBMtMBDJPOT MÞEJRVFT FO MFT QMBUHFT OP ÏT QFS B HBVEJS MFT OPTBMUSFT TPMT TJOØ UPUFT MFT QFS TPOFT RVF BDVEFJYJO B MB QMBUKB P ÏT RVF FT WB B EFNBOBS BMHVOB BDSFEJUBDJØ EF WFÕOBUHF QFS B BDDFEJS B MB NBUFJYB (FOT UFOFO B WFVSF FO BRVFTU BQBS UBU MFT JOTUBMtMBDJPOT JOFYJTUFOUT FO MFT QMBDFT QÞCMJRVFT EF MFT RVBMT DPN CBSSJ NBORVFN mOT BM NPNFOU J CFO OFDFTTËSJFT RVF TØO t 2 V B O F T E F N B O F O N Ï T JOTUBMtMBDJPOT DPN EVU YFT QBTTBSFMtMFT FTDBMFT MÓOJFT EF WJEB WËUFST QPSUËUJMT BDDFTTPT QFS B QFSTPOFT EF NPCJMJUBU SF EVÕEB FUD OP TØO TPM QFS BMT WFÕOT EF 'SPOU .BSÓUJN TJOØ QFS B UPUT FMT WFÕOT EF #BEBMPOB RVF WVMHVJO BDDFEJS B MB [POB EF QMBUKB RVF UFOJN FOGSPOU EF OPTBMUSFT RVF KP TËQJHB OP FOT WFVSFN CFOFmDJBUT QFS DBQ UJQVT EF DËOPO FTQFDJBM RVF SFWFSUFJYJ FO FMT WFÕOT EF 'SPOU .BSÓUJN "GPSUVOBEBNFOU DPN WFÕOT J QFS MB QSPYJNJUBU B MB QMBUKB QPUTFS TJHVFN FMT RVF NFOZT MFT VUJMJU [FN P OFDFTTJUFN FODBSB RVF EFGFOTBSFN MB TFWB OFDFTTJUBU QFS B MB SFTUB t 2VBO FOT IFN JOUFSFTTBU QFS BMHVOB EF MFT BDUVBDJPOT VS CBOÓTUJRVFT RVF BGFDUB B MFT JOGSBFTUSVDUVSFT KB TJHVJO EF USBOTQPSU NFEJ BNCJFOUBMT P EF RVBMTFWPM NFOB FM OPTUSF JOUFSÒT ÏT FM DPNÞ EF UPUT OP IP WBN DJSDVNTDSJVSF TPMBNFOU BM OPTUSF CBSSJ t 2VBO T IB EFNBOBU RVF MFT EVFT GPOUT E BJHVB QPUBCMF FYJT UFOUT FO UPU FM CBSSJ J MFT RVF DSFJFN OFDFTTBSJ RVF T JOTUBMtMJO FO FM QBTTFJH QFS NBODBS E FMMFT UPSOJO B GVODJPOBS OP FT EFNBOB QFS B CFVSF BJHVB TPMBNFOU FMT WFÕOT EF 'SPOU .BSÓUJN FT EF NBOB QFSRVÒ RVBMTFWPM QVHVJ GFS ÞT EF MFT NBUFJYFT OP TPMBNFOU OPTBMUSFT t 2VBO T IB EFNBOBU RVF MB

&ODB .BSÏT 1SFTJEFOUB "TTPDJBDJØ EF 7FÕOT EFM 'SPOU .BSÓUJN EF #BEBMPOB

727 %DGDORQD

4J BMHÞ EF WPTBMUSFT UÏ BMHVO BNJD DPOFHVU P WFÓ P QPUTFS FT EFEJDB B MB QBTUPSBM EF MB TBMVU J WB B WJTJUBS NBMBMUT P QFSTPOFT HSBOT B MFT SFTJEÒODJFT BOFV BNC DPNQUF OP UJOHVFV VO GSBDËT FO BOBS B WJTJUBS BMHÞ B MB 3FTJEÒODJB 1SJWBEB -MFHBU 3PDB J 1J DBO (VTJ QFS BMT EF #BEBMPOB 6T QSFHVOUBSFV QFS RVÒ EJD BJYÛ EF 3PDB J 1J VOB GVOEBDJØ UBO TÒSJB RVF mOT J UPU IB DFEJU VOB DBTB QFS B $ËSJUFT BNC MB DPMtMBCPSBDJØ EFM HSVQ 'PMSF HSVQ RVF UÏ DVSB EF EPOBS EF NFOKBS BMT RVJ FMT FO GB GBMUB J PGFSJOU TPTUSF BMT RVJ OP FO UFOFO UBM DPN FM WFOFSBCMF TFOZPS 7JDFOÎ EF 3PDB J 1J WB EFJYBS EJU RVF FT GFT QFS BMT CB EBMPOJOT QPCSFT P JOEJHFOUT &O SFTVN RVF IB DFEJU BRVFTUB DBTB RVF IBO CBUFKBU BNC FM OPN EFM CJTCF +PBO $BSSFSBT & $ 4 TFHPOT FOT FYQMJDB FM GVMM EPNJOJDBM 1FS RVÒ GBJH M BOUFSJPS DPNFO UBSJ EPODT #Ï UPU WF E BRVÓ 1FS DPNFOÎBS VT EJSÏ RVF TØD VOB BOUJHB USFCBMMBEPSB EF M FTNFOUBEB SFTJEÒODJB 7BJH DPNFOÎBS M BOZ M BNC NPMUB JMtMVTJØ +VOU BNC USFT QFSTPOFT NFT WËSFN JOJDJBS FM QSPKFDUF E BOJNBDJØ FTUJNV MBUJWB DPHOJUJWB J TPDJPDVMUVSBM %FTQSÏT EF NPMUT FOUSFCBODT MMVJUFT J QMFOB EFEJDBDJØ BDPO TFHVÓSFN VO HSBO QSPHSBNB QMF EF NJMMPSFT J BDUJWJUBUT QFS BMT SFTJEFOUT "OBWFO QBTTBOU FMT BOZT J FOT IJ BOËWFN TV QFSBOU

QSPIJCJEB &O EFNBOBS QFM EJSFDUPS FN EJHVFSFO RVF OP IJ FSB RVF FTUSBOZ TJ FMM IJ ÏT TFNQSF "MFTIPSFT WBJH EFNBOBS QFS MB TFDSFUËSJB EFM 1BUSPOBU MB RVBM FN WB JOGPSNBS RVF MB SFTJEÒODJB EF DBO (VTJ iÏT VO DFOUSF QSJWBU J UÏ SFTFSWBU FM ESFU E BENJTTJØ J FM TFOZPS EJSFDUPS NF M IB BQMJDBU B NJ ÏT B EJS OP WBJH QPEFS FOUSBS B EPOBS VOB BMFHSJB B VOFT RVBOUFT QFSTPOFT HSBOT RVF WJVFO BMMË ²T QFS BJYÛ RVF VT EFJB FO DP NFOÎBS RVF OP VT FOEVHVÏTTJV VO GSBDËT * KP FN QSFHVOUP VT QSFHVOUP DBO (VTJ 3PDB J 1J P DPN MJ WVMHVFV EJS FM MMFHBU RVF WB EFJYBS FM NPMU WFOFSBCMF TFOZPS 7JDFOÎ EF 3PDB J 1J QFS BMT CBEBMPOJOT QPU UFOJS SFTFSWBU FM ESFU E BENJTTJØ J OFHBS MB WJTJUB BMT SFTJEFOUT 2VF QPUTFS ÏT VOB QSFTØ 6O DFOUSF RVF UÏ VOB QMBDB B MB QPSUB DPN B $FOUSF 1SP WFÕEPS EFM *OTUJUVU $BUBMË EF MB 4BMVU QPU UFOJS SFTFSWBU FM ESFU E BENJTTJØ J OFHBS M FOUSBEB B BMHÞ &O m RVF DBEBTDÞ FO QFOTJ J GBDJ FM RVF WVMHVJ 1FSÛ BCBOT E BOBS B 3PDB J 1J DBO (VTJ USVRVFV J QSFHVOUFV TJ VT EFJYB SBO FOUSBS +P UFOJB FM EFVSF NPSBM EF GFS IP TBCFS BMT CBEBMPOJOT KB RVF MB 3FTJEÒODJB 1SJWBEB -MFHBU 3PDB J 1J DBO (VTJ GPSNB QBSU EF #BEBMPOB ÏT #BEBMPOB J QFS " 5054 &-4 #"%"-0/*/4 TPCSFUPU FMT NÏT EFTWBMHVUT

1FSÛ EF DPQ J WPMUB IJ IB VO DBOWJ FO MB EJSFDDJØ EF MB SFTJ EÒODJB J UPU TF O WB FO PSSJT -FT SFMBDJPOT MBCPSBMT QFS B UPUIPN DBEB DPQ FTUBO NÏT UFOTFT J FO QJUKPST DPOEJDJPOT QSFTTJPOT BTTFUKBNFOUT FYJHÒODJFT J DPN ÏT E FTQFSBS EF SFUSVD QFSKVEJDJT QFMT SFTJEFOUT )J IB VO HSBO DBOWJ EF QFSTPOBM VOT NBSYFO GPSÎBUT E BMUSFT MB NBKPSJB FMT BDPNJBEFO UPUT FMMT VOT HSBOT QSPGFTTJP OBMT BNC BOZT E FYQFSJÒODJB UBNCÏ UBORVFO FM DFOUSF EF EJB TFOTF HBJSFCÏ QSFBWÓT QFS B MFT GBNÓMJFT 5PU QMFHBU TFOTF DBQ NFOB EF TFOUJU 1FS DBQSJUY EFM EJSFDUPS QPUTFS 7PMFO QPSUBS VOB SFTJ EÒODJB DPN VOB FNQSFTB DPN QPU TFS MB 4FBU /P QFOTFO RVF FTUBO USBDUBOU BNC QFSTPOFT J OP BNC NËRVJOFT 1FS BMT SFTJ EFOUT IB FTUBU VO HSBO USBTCBMT UBOUT EF DBOWJT J QFS BMT CPOT QSPGFTTJPOBMT RVF IBO NBSYBU VO HSBO EJTHVTU * QFS BDBCBS VO CPO EJB EF mOBMT EF EFTFNCSF QBTTBU WBJH BOBS B 3PDB J 1J QFS GFMJDJUBS MFT GFTUFT BMT SFTJEFOUT RVF DPOFD RVF FO TØO VOT RVBOUT J NPMUT E FMMT mOT J UPU N IBO WJTU OÏJYFS P DPOFJYFO MB NFWB GBNÓMJB EF UPUB MB WJEB #Ï DPN BOBWB EJFOU WBJH BOBS B EPOBS VOB BCSBÎBEB B UPUT FMT NFVT FTUJNBUT BNJDT J RVJOB OP GPV MB NFWB TPSQSFTB RVBO FO BSSJCBS BMMË BSB QFS QPEFS FOUSBS VT EFNBOFO HBJSFCÏ FM %/* FO EJS FM NFV OPN FM HVBS EB EF TFHVSFUBU RVF IBO QPTBU B MB QPSUB FN WB EJS RVF OP QPEJB FOUSBS RVF UFOJB M FOUSBEB

/HFWRUV

2VÒ FTUË QBTTBOU B MB 3FTJEFODJB EF 3PDB J 1J $BO (VTJ QFS B NPMUT EF OPTBMUSFT

" & #

$PN FOWJBS OPT MFT DBSUFT P MB GPUP EFOÞODJB &OWJBhOT MFT DBSUFT P GPUPT EFOÞODJB BNC FM OPN EBEFT J %/* t ²T PCMJHBUPSJ FM OPN EBEFT %/* P QBTTBQPSU EF M BVUPS t $BQ EPDVNFOU RVF FOT TJHVJ FOWJBU TFSË SFUPSOBU t &M 505 FT SFTFSWB FM ESFU B SFEVJS J FEJUBS MFT DBSUFT RVF IP SFRVFSFJYJO J QVCMJDBS BRVFMMFT RVF DPOTJEFSJ PQPSUÞ t /P FT NBOUJOESË DPSSFTQPOEÒODJB OJ T BUFOESBO WJTJUFT P USVDBEFT SFTQFDUF FMT PSJHJOBMT FOWJBUT P QVCMJDBUT $ -MFØ O B #BEBMPOB t CBEBMPOB!FMUPUEJHJUBM DPN 727 %DGDORQD

1 -FDUPST 1BH 1BH 1BH JOEE

/HFWRUV

$PN FN QVD JOGPSNBS 'B USFT BOZT RVF WBJH WFOJS B WJVSF BNC MB NFWB QBSFMMB B #BEBMPOB . BHSBEB MB DJVUBU J BSB KB QVD EJS RVF FN TFOUP QBSU EF MB TFWB BDUJWJUBU FODBSB RVF GBDJ QPD RVF IJ WJTRVJ J QFS BJYÛ FN DPNFOÎP B FOGBEBS BNC TFHPOT RVJOFT DPTFT )F FTUBU PCTFSWBOU RVF QFS TBCFS FM RVF FT GB B #BEBMPOB ÏT NJMMPS NJSBS FMT DBSUFMMT RVF T FOHBOYFO BM DBSSFS RVF OP QBT NJSBOU FM XFC EF M BKVOUBNFOU "SSFV FU QPTFO NÏT JOGPSNBDJØ

UPU FM RVF FT GB B #BEBMPOB J OP ÏT BJYÓ $PN QPU TFS RVF OP IJ IBHJ VOB BHFOEB BNC UPUFT MFT BDUJWJUBUT 5PUFT UPUFT MFT QÞCMJRVFT J MFT QSJWBEFT QFSRVÒ MB HFOU RVF WPM GFS BDUJWJUBUT B #BEBMPOB MJ ÏT JHVBM RVJ MFT GB MB RàFTUJØ ÏT RVF O IJ IBHJ 4PSU EFM 5PU RVF DBEB TFUNBOB GB SFDPNBOBDJPOT QFSRVÒ TJ OP EJSJB RVF B #BEBMPOB OP FT GB NBJ SFT J OP ÏT BJYÓ

B XXX CBEBMPOB DBU J RVBO FOUSFT OP USPCFT SFT $PN QPU TFS RVF M &TQBJ #FUÞMJB OP UJOHVJ VOB XFC 2VF MFT CJCMJPUFRVFT OP UJOHVJO VOB XFC BNC MFT OPWFT FOUSBEFT J BDUJWJUBUT 2VF MB TBMB &M 3FGVHJ TVSUJO BOVODJBEFT MFT FYQPTJDJPOT EF GB BOZT FOMMPD E BWBOÎBS UF MFT RVF WJOESBO &OUSP B M FTQBJ RVF QPTB BHFOEB J FN USPCP VO EJTTFOZ BOUJRVBU MFOU J QPD BUSBDUJV UBO QPD BUSBDUJV RVF QFOTP RVF EFV TFS IPSSPSØT

-BVSB (SËDJB -B 1MBOB

#BMM EF EJTGSFTTFT %JOT E VOB IPSB DPNFOÎB MB GFTUB EF $BSOFTUPMUFT J FODBSB OP IF QSFQBSBU MB SPCB "NC CPO IVNPS FN QJOUP MB DBSB EF OFHSF J NBSSØ EFTQSÏT FN WFTUFJYP 4VSUP WBMFOU J EFDJEJU DBQ B MB GFTUB EF EJTGSFTTFT RVF PSHBOJU[B FM $FOUSF $ÓWJD EF $BO $BCBOZFT EF #BEBMP OB BWVJ EF GFCSFS B MFT EF MB OJU "M DBSSFS UPUIPN FN NJSB EJWFSUJU ²T MB QSJNFSB GFTUB B MB RVF BTTJTUFJYP EJTGSFTTBU BMUSFT WF HBEFT OPNÏT IF FTUBU DPN FT QFDUBEPS J TFNQSF N IB SFTVM UBU FOHSFTDBEPS M FOUVTJBTNF BNC FM RVF FTDPMUP QBSMBS B MB

"CBOT EF MFT EPU[F EF MB OJU BSSJCB VO WFOFEPS BNCVMBOU EF SPTFT WFSNFMMFT TØO MFT RVF NÏT N BHSBEFO %FDJEFJYP DPNQSBS OF VOB QFS SFHBMBS MJ B VOB WFOUBGPDT FODJTBEPSB EF MMBWJT WFSNFMMT BCBOT RVF EFTBQBSFHVJ OPNÏT RVBO WBJH B QBHBS MB SPTB NF O BEPOP RVF MB NFWB SFDFSDB ÏT JOÞUJM EPODT MB NFWB EJTGSFTTB EF TBD EF DBGÒ OP QPSUB OJ VOB CVUYBDB OJ EPT - BOZ WJOFOU BNC CVUYBDB P TFOTF CVUYBDB QPSUBSÏ VOB GMPS B MB TPMBQB EFM WFTUJU

HFOU SFTQFDUF BRVFTUB GFTUB EF USBOTHSFTTJØ J EJTCBVYB 4PNSJFOU FOUSP BM $FOUSF $ÓWJD J TØD SFCVU QFS TB NB KFTUBU FM 3FJ EF $BSOFTUPMUFT &N DPOWJEB B VOB CFHVEB J N BDPNQBOZB mOT FM MMPD EF MB GFTUB -B TBMB FTUË QMFOB EF HPN B HPN 6O QBMMBTTP J VOB CSVJYB CBMMFO QMFHBUT BM SJUNF EF MB NÞTJDB 6O QJSBUB BNC VO HBSm QFS NË FN USFV B CBMMBS %JOT NFV DPNFODFO B FNBOBS UPU VO TFHVJU E FNPDJPOT QPTJ UJWFT BMFHSJB GFMJDJUBU JMrMVTJØ HPJH TPNSJVSFT BJYÛ RVF BM HVOT QPTUNPEFSOT BOPNFOFO VO DFSU iTFOUJNFOUBMJTNFw

.BSJ $BSNFO -P[BOP

IRWR GHQÙQFLD

&THMBØ B MB TPSUJEB EF M FTUBDJØ EF USFO " BSSFM EF MB SFGPSNB EF MB QMBÎB 3PDB J 1J FT WB DSFBS BRVFTU FTHMBØ JNQSPWJTBU B MB TPSUJEB QSJODJQBM EF M FTUBDJØ EFM USFO BSB KB GB NÏT EF RVB USF BOZT &O UPU BRVFTU UFNQT OP UBO TPMT OP T IB FMJNJOBU TJOØ RVF T IB QFSNÒT RVF FT EFHSBEJ +PTFQ .BSJB 2VJOUBOB

1 -FDUPST 1BH 1BH 1BH JOEE

727 %DGDORQD

1(&52/¶*,48(6 &/$"3/"$*»/ "-$"-« 7*--"-#" -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

163*'*$"$*»/ 30.&30 30.&30 -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

-6$*/%" ."$¶"4 30%3¶(6&; -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

#*&/7&/*%" $03"$)«/ * ("3$¶" -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

-063%&4 «-7"3&; 46«3&; -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

."3*"/" 0-.&%0 30%" -FT FYÒRVJFT WBO TFS FM EF GFCSFS B 4U $FCSJË 5JBOB

."/6&-" )&37«4 +645*$*" -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

1"/$3"$*0 $6$63&--" --01"35 -FT FYÒRVJFT WBO TFS FM EF GFCSFS B 4U 'FMJV "MFMMB

$&4«3&0 1"; 53&/"%0 -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

&/3*26&5" -»1&; )&3/«/%&; -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

$"30-*/" ("3$¶" $"33&5&30 -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

."3$&-*/" 1²3&; .&.#3*7&4 -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

/Á3*" .&%*"7*--" ."3$&3 -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

+0"/ ."35¶/&; .6-" -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

'3"/$*4$0 «-7"3&; ."35¶/&; -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

"/50/*0 .0/5&0-*7" #"3#&30 -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

/"3$*40 -»1&; 304" -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

."3*/" #"&/" 3".¶3&; -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

"//" .03² * 4"34"/"$) -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

&6(&/*" ."3$0 4"/; -FT FYÒRVJFT WBO TFS FM EF GFCSFS B .BTFHPTB $VFODB

50.«4 (0/;«-&; (0/;«-&; -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

+0"26*/ # 035&(" $"4"/07"4 -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

1*-"3 .«326&; .0-*/" -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

4*-7*" -»1&; -0/"$0 -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

3".»/ $"#05 7&-" -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

1"26*5" ."50/4 7*%"-FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

."3¶" +04&'" .03&/0 %63«/ -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

"/50/*0 $"-$&33"%" #6*53"(0 -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

"4$&/4*»/ 304"-&4 ."35¶/ -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

4&37"/%0 3".¶3&; 30%3¶(6&; -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

$3*45»#"- $"/0 ."35¶/&; -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

+0"/ 40-&3 * 033*0-4 -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

$"3.&/ 4".1&%30 $)&$" -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

.*(6&- $*4/&304 &41"º" -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

+04² ."3¶" $"-" '-03&4 -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

"."-*" "#&--«/ ."35¶/&; -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

+04² "/50/*0 %"6/²4 $"1*--" -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

+04² $"-" ("3$¶" -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

&45&#"/ 4«/$)&; ."35¶/&; -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

+04&'" .0-*/" 4«/$)&; -FT FYÒRVJFT WBO TFS FM EF GFCSFS B 4U 4FCBTUJË #EO

+Á-*" '6&/5&4 07&+"4 -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

$"3.&/ 4«/$)&; 30%3¶(6&; -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

'3"/$*4$" 3&$)& (0.*; -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

7*4*5"$*»/ -0;"/0 (*.²/&; -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

+04&1 "/50/* (».&; ."35¶/&; -FT FYÒRVJFT WBO TFS FM EF GFCSFS B Mh0SBUPSJ 1'#

"HSBÕNFOUT J BOJWFSTBSJT r &TRVFMFT B MB SFWJTUB FM 505 4J WPM QVCMJDBS VOB FTRVFMB B MB SFWJTUB FM 505 USVRVJhOT P QBTTJ QFS MB OPTUSB PmDJOB $ -MFØ PO FS #BEBMPOB r 5FM r 727 %DGDORQD

OFDSPT QBH JOEE

KRU¶VFRSV ®3*&4 BM

$3"/$ BM

#"-"/±" BM $"13*$03/ BM

&TUB TFNBOB IBSÈ HSBOEFT NPOUB×BT B QBSUJS EF DPTBT TJO JNQPSUBODJB OP UJFOF UBOUPT QSPCMFNBT SFBMFT DPNP VTUFE DSFF GBDJMJUF MPT BTVOUPT RVF MF SPEFBO &O FM UFNB BNP SPTP QSFTUF NÈT BUFODJØO B TV QBSFKB Z UFOHB UBNCJÏO FO DVFOUB MB PQJOJØO EF FMMB Z EF TVT IJKPT TV QFSTQFDUJWB OP FT MB ÞOJDB NBOFSB EF WFS FM NVOEP

"TFHÞSFTF CJFO EF MBT DPOEJDJPOFT FO TV BNCJFOUF EF USBCBKP ZB RVF MPT BTUSPT MF NBSDBO QFRVF×PT QFSP NPMFTUPT BDDJEFOUFT 7BZB DPO DVJEB EP DPO MPT JOTUSVNFOUPT EF DPDJOB &O DVBOUP BM ÈNCJUP MBCPSBM TF QSFWÏO JNQPSUBO UFT HBTUPT FDPOØNJDPT RVF UFOESÈ RVF BGSPOUBS DPO MB NBZPS USBORVJMJEBE QPTJCMF -MFHBSÈO UJFNQPT NFKPSFT

6OB TFNBOB FO CMBO DP TJO BKFUSPT TJO EJTDVTJPOFT DBMNB EB Z DPO EJOFSP GSFTDP RVF DVCSJSÈ UPEPT TVT HBTUPT TJ TF BENJOJTUSB DPSSFDUBNFOUF -F FTQFSB VO CVFO EFTDBOTP 1JFOTF FO EBS VO DBQSJDIP B BMHVJFO NVZ DFSDBOP B VTUFE QVFT BHSBEFDFSÈ RVF QJFOTF FO FM "VORVF UBNQPDP EFTQJMGBSSF HVBSEF QBSB MBT WBDBT nBDBT

&TUB TFNBOB BDVTBSÈ VO FYDFTP EF USBCBKP BVORVF BNQMJBNFOUF SFDPNQFOTBEP FDPOØNJDB NFOUF &TP TJ OP QBHVF MBT UFOTJPOFT MBCPSBMFT DPO GB NJMJBSFT Z BNJHPT Z WFSÈ RVF MB TFNBOB RVF TF QSFTFOUB SFTVMUBSÈ SFEPOEB 4PMP IBZ VOB DPTB RVF QPESÓB BNBS HBSMF MB TFNBOB DVJEBEP DPO MPT IVFDPT FO MBT BDFSBT Z MBT UPSDFEVSBT EF UPCJMMP

5"63& BM

--&» BM

&4$031¶ BM "26"3* BM

0SHBOÓDFTF VO QPDP 4J UJFOF OFHPDJPT RVF 4VGSJSÈ EF JOTFHVSJEBE 'FMJDFT NPNFOUPT DPO FO FM ÈNCJUP MBCPSBM ZB RVF MBT DPOEJDJPOFT UFØSJDBT OP TF DVNQMJSÈO FO MB QSÈDUJDB &TUPT UFNPSFT BGFDUBSÈO B TV SFMBDJØO EF QBSFKB DPO DPOTUBOUFT EJTDV TJPOFT /P MP QBHVF DPO FMMB QVFT OP UJFOF DVMQB 4VBWJDF MB TJUVBDJØO P TF MF WPMWFSÈ FO DPOUSB

MB QBSFKB Z DPO MB GBNJ MJB FO HFOFSBM %JTGSVUF EF FMMPT UPEP DVBOUP QVFEB &M EJOFSP MF TFSÈ BCVOEBOUF JOWJFSUB FO QMBOFT EF GVUVSP Z TBMESÈ HBOBOEP &O MB TBMVE OP UPEP TPO SPTBT TPO BMUB NFOUF QSPCBCMFT MB GPSNBDJØO EF DÈMDVMPT SFOBMFT $VÓEFTF MPT SJ×POFT

JNQMJRVFO UBOUP DPN QSBT DPNP WFOUBT BOEF DPO NVDIP DVJEBEP QVFT FT NVZ QSPCBCMF RVF VOB GBDUVSB GBMTFBEB QVFEB BDBSSFBSMF BMHVOB SFTQPOTB CJMJEBE MFHBM &TUB TFNBOB DVÓEFTF EF SFTGSJBEPT Z BMFS HJBT RVF QPESJBO BNBSHBSMF BMHVOBT TBMJEBT OPDUVSOBT

NFKPS Z MB NBZPSÓB EF TVT QSPCMFNBT Z QSFPDVQBDJPOFT P EFTBQB SFDFSÈ P TF WPMWFSÈO NVDIP NÈT QFRVF×PT &O MB TBMVE BDVTBSÈ QFRVF×BT NPMFTUJBT HBTUSPJOUFTUJOBMFT OBEB RVF OP TF BSSFHMF DPO VO QPDP EF BSSP[ IFSWJEP NVDIP MÓRVJEP Z BMHP EF SFQPTP

#&440/4 BM 7&3(& BM

4"(*5"3* BM 1&*904 BM

4J OP IBCÓB DPCSBEP " WFDFT OP EFCFSÓB 4J TF IB QMBOUFBEP VO /P EFCFSÓB FNCBSDBS DBNCJP EF USBCBKP VOB WFOUB EF TV WJWJFOEB P JODMVTP MB DPNQSB P BMRVJMFS EF VOB BQSPWFDIF QVFTUP RVF FM NPNFOUP FT JONFKPSBCMF %JTDVTJPOFT DPOTUBOUFT DPO TV GBNJMJB Z BMSFEFEPSFT &T FM NPNFOUP QSPQJDJP QBSB IBDF VOB FTDBQBEJUB DPO MB QBSFKB 3FMÈKFTF Z EJTGSVUF EFM BJSF QVSP

BMHVOPT BUSBTPT MBCP SBMFT FT FM NPNFOUP QSPQJDJP QBSB SFDMBNBSMPT QBSFDF RVF TV QFUJDJØO TFSÈ BUFOEJEB TJO OJOHVOB EJm DVMUBE 4JO FNCBSHP FTUPT QBHPT DSFBSÈO BMHVOBT FOWJ EJBT FOUSF TVT DPNQB×FSPT OP WBZB QSFEJDBOEP B MPT DVBUSP WJFOUPT MP RVF IB DPOTFHVJEP

TF FO HSBOEFT BWFO UVSBT FTUB TFNBOB TJOØ RVF EFCFSÓB SFMBKBSTF Z EFKBSMB DPNP VOB TFNBOB EF USBOTJDJØO -FB QBTFF P IBHB BMHVOB BDUJWJEBE SJDB QBSB FM FTQÓSJUV &O FM DBNQP EF MB TBMVE OP UFOESÈ HSBOEFT QSPCMFNBT BQBSUF EF BMHVOB NPMFTUJB FO MBT BSUJDVMBDJPOFT B DBVTB EFM GSÓP

TFS UBO QVTJMÈOJNF Z TÓ NÈT EFDJEJEP TV SFDPOPDJNJFOUP B OJWFM QSP GFTJPOBM SFTVMUBSÓB BMUBNFOUF CFOFmDJBEP &O DVBOUP B MBT SFMBDJPOFT BGFDUJWBT MB TFNB OB TF QSFTFOUB BMHP BCVSSJEB BTÓ RVF FTQBCJMF FYJTUFO NVTFPT FYQPTJDJPOFT FY DVSTJPOFT Z BDUJWJEBEFT WBSJBT QBSB DPNQBSUJS FO QBSFKB

SDVVDWHPSV

/JWFMM EJGÓDJM

/JWFMM GËDJM

0NQMJV MFT DBTFMMFT CVJEFT EFM SFRVBESF EF Y RVBESBUT BNC YJGSFT EF Mh BM /P ThIB EF SFQFUJS DBQ OÞNFSP FO VOB NBUFJYB mMB IPSJU[POUBM P WFSUJDBM OJ TVCRVBESJDVMB EF Y 1FS 4VEPLVT8FC DPN

QBH JOEE

727 %DGDORQD

SDVVDWHPSV

4PMVDJPOT B MB TFDD FDPOÛNJDT

1FS 1BV 7JEBM

)03*5;0/5"-4 5Ï UBOUFT DBSFT RVF QPESJB GFS EF EBV J UPU 4ÛMJE DSJTUBMtMÓ EF DPMPS CMBV EF SBKPMB "JYFDBU EF UBVMB BNC MB GFJOB GFUB $BQEFWJMB &OUÒT FO TPO JOUFOU E BOPTUSBS FM YÛQJOH 4FHPOB NFJUBU EFM DVST "RVÓ B /BSCPOB RVF IJ IB GPSÎB WJDJ 5ËDUJDB EF EFGFOTB CBTRVFUCPMÓTUJDB BQMJDBEB B $VCB 'SFOBU QFM SFTQPOTBCMF EFM EFCBU 5BMM EF M FTRVFOB " GJOBMT EF GFCSFS %JHVJ RVF OP J RVF OP DËTVN SFEÏV /ÏUT FOUSF FMT RVBMT OP FU DPNQUFT 1ÒTTJN DPN VO DÛDUFM EF 'BOUFT -B /ÞSJB EJTGSFTTBEB E FMFNFOU QFSJMMØT &MT CFOQFOTBOUT USPCFO RVF OP IP ÏT NBJ 5FÛSJD EF MB SFQSPEVDDJØ QFS DPMMPOT /JOBEFT YJDPUBEFT (SBO 5VSJTNF 1VOZFUFS 5BO HBSS FQB RVF OPNÏT QSFO WJ WFMM "WBOÎB BNC GFMJOB NBMEFTUSFTB "DBCBSË BNC UV 4ÒSJF EF CPYBEPST RVF FT EFJYFO HVBOZBS 1FS BMVNJOJ WBM 4JHVJ B MB NBOFSB DMËTTJDB "SUJMMFSJB QFTBEB DPOUSB FMT RVF FTQFSFO FM NFUSP 6OB QJMB EF WÒSUFCSFT GFUFT EF NBSCSF " M IPSB EF DBSEBS ÏT GPOBNFOUBM

7&35*$"-4 1BSMBOU EF SBKPMFT DPMtMFDUJV RVF MFT BHSVQB B MB GFJOB $FOUSF EF QSPEVDDJØ EF NFM 3BDØ EF /FP[F MBOEB PO FT SFGVHJB FM NËHJD 1FS FMMB ÏT CËTJD EJTUJOHJS FM OPSE EFM TVE "UPN B MB DVB EF M BWJØ " M IPSB EF SVNJBS IJ WFV DMBS 1BSU EFM DBMBJY TPUNFTB B YPDT ²T JEFBM FO VO NVMM &MJNJOP EF TPDB SFM &O -MVMM BCBOEPOBU QFMT EPT DFOUT %POFT DPN KB OP TF O USPCFO ²T B MFT FJOFT DPN B MFT HBMMJOFT M BWJSBN -B HPUB RVF WFTTB EFM HPU 4FNCMB VO KBSEJOFS QFSÛ UÏ NPMU CPO BTQFDUF (VBOJOB TFOTF DPNQPOFOUT WPDËMJDT 1SPWJUBNJOB BNC HVTU EF QBTUBOBHVÒ 7FU BRVÓ RVF VOB WB DPNFOÎBS VO DPOUF 'SBHNFOU RVÓNJD RVF T FOGJMB QFS MB DBMDFUFSJB 4PUNFTB B NBOJQVMBDJPOT EF GPHPOT *OTFDUFT BMT RVBMT MB UJTBOB IB GFU NÏT EVST %PTJ EF DFSWFTB NPMU BHSFTTJWB *OEFY EF 1SFVT J HSËDJFT 4FMFDDJØ EF DPOTFRàÒODJFT SFTJEVBMT $POUJOVB WBMFOU .FTVSB EF WJ CËSCB SBNFOU QFTBEB 1MBOUPGBEB B MB HBMUB RVF OP FT WFV "DPQMBNFOU QFDBNJOØT J WB QVKBOU 3FTJEÒODJB QFS HFOU BNC UFOEÒODJB B QMFHBS MFT NBOT

&.#36+"%" 5*&/%" &405²3*$"

1SPEVDUPT &TPUÏSJDPT Z "SUÓDVMPT EF 3FHMP

5F BUJFOEP QFSTPOBMNFOUF

$63404 %&

5BSPU /VNFSPMPHÓB Z WFMBT 4FNJOBSJP EF 3FJLJ

5FM $ (àFMM J 'FSSFS +UP .FUSP 1FQ 7FOUVSB

7$527

0$5,1$ +

',5(&725, 7DURW * (/

8$ 5 ' ,

É1 '( /26 $5& $

9LVD HFRQyPLFD PLQ ½

727 %DGDORQD

QBH JOEE

££//É0$0(

,"*."

5"305 03*&/5"$*»/ )6."/"

1 26

7DURWLVWDV SURIHVLRQDOHV \ VHULRV

/$6 5(638(67$6 48( %86&$6 /$6 (1&2175$5É6

9,6$ (&21Ð0,&$

606 HQYLD PDU \ WX SUHJXQWD DO

"ZVEB &TQJSJUVBM 7*4"

5&-

3UHFLR )LMR ½ 3UHFLR PyELO ½ 0D\RUHV DxRV

727 %DGDORQD

1MBOUJMMB#BTF JOEE

=ÁSLQJ %JKPVT EF GFCSFS

%JWFOESFT EF GFCSFS I 3FQPSUBUHF

I 4ÒSJF 1SJTJPO #SFBL

+PWFT GPSB EF TÒSJF

%JTTBCUF EF GFCSFS

%JVNFOHF EF GFCSFS

%JMMVOT EF GFCSFS

&OUSFUFOJNFOU

&TQPSUT

&M )PSNJHVFSP

-B WVFMUB BM NVOEP FO EJSFDUP

&TQBJ RVF PGFSFJY MB mHVSB EhVO KPWF RVF UÏ BMHVOB DPTB JOUFSFTTBOU B FYQMJDBS

-hFTQPSU

I #ËTRVFU 1SJTJPO #SFBL ÏT VOB TÒSJF EF UF MFWJTJØ ESBNËUJDB OPSE BNFSJDBOB RVF WB FTUSFOBS MB DBEFOB OPSE BNFSJDBOB 'PY FM EhBHPTU EF

727 %DGDORQD

QBH JOEE

2VBSUT EF mOBM EF MB $PQB EFM 3FJ 5SBOTNJTTJØ EFM QBSUJU FOUSF Mh&TUVEJBOUFT J FM %,7 +PWFOUVU EF #BEBMPOB

&TQBJ RVF SFQBTB FMT NJMMPST NP NFOUT EF MB TFU NBOB QSFTFOUBU QFS 1BCMP .PUPT

7JBUKBS QFS UPU FM NØO B USBWÏT EhVO DPODVST EF UFMFWJTJØ

3FTVN EFM NÏT EFTUBDBU EF MB $PQB EFM 3FJ DF MFCSBEB B .BESJE EVSBOU FM DBQ EF TFUNBOB

LPPRELOLÁULD

KOOQDKNKÀTKC

/D PLOORU VHOHFFLÓ LPPRELOLÁULD GHO %DUFHORQÈV 1RUG

- FYDÏT E IBCJUBUHFT T BCTPSCJSË BCBOT EF TFHPOT VO JOGPSNF EFM .JOJTUFSJ E *OEÞTUSJB *NNPCJMJBSJB t - FYDFEFOU E IBCJUBUHFT B &TQBOZB RVF TPCSFQBTTB BNC FTDSFJY FM NJMJØ EF QJTPT QPESJB BCTPSCJS TF BCBOT EF NJUKBOT EFM TFHPOT VO JOGPSNF TPCSF FM TFDUPS JNNPCJMJBSJ QVCMJDBU BM CVUMMFUÓ *OGPSNBDJØ $PNFSDJBM &TQBOZPMB *$& EFM .JOJTUFSJ E *OEÞTUSJB -B QSFWJTJØ FT CBTB FO FM QJUKPS EFMT FTDFOBSJT QPT TJCMFT NFOUSF RVF M BCTPSDJØ EFMT QJTPT TFOTF WFOESF QP ESJB BWBOÎBS TF BM QSJNFS P UFSDFS USJNFTUSF EF TF HPOT EBEFT EFM $PMrMFHJ EF 3FHJTUSBEPST J EFM .JOJTUFSJ EF M )BCJUBUHF SFTQFDUJWBNFOU TJ FM NFSDBU JNNPCJMJBSJ BKVTUÏT

MB TFWB PGFSUB BM SJUNF EF MB EFNBOEB EFMT ÞMUJNT BOZT - BOZ IJ IBWJB B &TQBOZB FOUSF J EF DBTFT BNC FM DBSUFMM EF iFT WFOw B MFT RVBMT FT WBO BGFHJS VOFT NÏT RVF FT WBO DPOTUSVJS BRVFTU BOZ J RVF FT WBO JODPSQPSBS BM NFSDBU FO USF J 5PU QMFHBU VO FYDÏT E BMNFOZT IBCJUBUHFT RVF OP USPCFO DPN QSBEPS - FTUVEJ SFBMJU[BU QFM .JOJTUFSJ E *OEÞTUSJB BTTFHVSB RVF TJ DPOUJOVB FM EFTDFOT EF DPN QSBWFOEB FYQFSJNFOUBU M BOZ QBTTBU NFOZT FO FM UFSDFS USJNFTUSF M BKVTU FT QSP

MPOHBSË mOT B NJUKBOT EF P QSJODJQJT EF QFSÛ RVF TJ OP FT MJNJUB M PGFSUB J iT BQVOUBMB EF NBOFSB BSUJGJDJBMw T FTUSJB BHSFVKBOU FM QSPCMFNB J QPTUFS HBOU FM iOFDFTTBSJ BKVTUBNFOU EFM TFDUPSw 6OB EF MFT DBVTFT EF M FYDFEFOU E IBCJUBUHFT RVF EFTUBD B M JOGPSNF ÏT FM SFGVHJ RVF IBWJB TVQPTBU QFS JOWFSTPST J FTQF DVMBEPST FM NFSDBU JNNPCJMJBSJ HSËDJFT B JODFOUJVT mTDBMT B MB DPNQSB DPN FM DPNQUF IB CJUBUHF P MFT EFTHSBWBDJPOT mTDBMT RVF T IBO VUJMJU[BU iEF NBOFSB QFSWFSTBw MBNBMMB DBU

+BVNF .POUTFSSBU J 7JWFT (FTUPS "ENJOJTUSBUJV $PM MFHJBU "TTFTTPS 'JTDBM "HFOU EF MB 1SPQJFUBU *NNPCJMJËSJB "ENJOJTUSBEPS EF 'JORVFT

"44&4403&. -&4 01&3"$*0/4 *..0#*-*®3*&4 &/ 5054 &-4 "41&$5&4 '*4$"- -&(" '*/"/$&3 "%.*/*453"5*6

( $0.13" ( 7&/%" ( --0(6&3 ( 53"41"4404

( "%.*/*453"$*0/4 ( "44&4403".&/5 ( J (&45*« *..0#*-*®3*"

-0$"-4 &/ --0(6&3 $ 4"-7"%03 &413*6 -MPSFEB N F $ */%&1&/%&/$*" N QBUJ EF N F ;0/" -" 1-"/" N TFNJTÛUBO WFOU B MhFYUFSJPS "DDÏT GVSHPOFUFT F -0$"- --0(6&3 N "WEB #VGBMB QMBOUB PGJDJOB P TJNJMBS FO QFSGFDUF FTUBU F $ '3"/$&4$ %& 1"6-" KUP $ .BS QMBOUB N N N .PMUB MMVNJOPTJUBU -0$"- --0(6&3 $ "3/Á4 40-&%"% FOUSFTPM DPNFSDJBM N NPMUB MMVNJOPTJUBU FO QFSGFDUF FTUBU F -0$"- --0(6&3 $ 1307*%µ/$*" N QMBOUB CBJYB N TÛUBO F 1"3,*/( --0(6&3 "WEB .PSFSB $PUYF .JUKË F -0$"- --0(6&3 ;0/" .&3$"5 503/&3 N FO QMBOUB CBJYB N EF TÛUBO F -0$"- --0(6&3 $ 1"6 1*'&33&3 1 #"+" N QMBOUB N N EF UFSSBTTB &O QFSGFDUFP FTUBU ;POB NPMU DPNFSDJBM F 0'*$*/" --0(6&3 N QMBOUB BTDFOTPS BM DPTUBU BVUPQJTUB " NJO EFM DFOUSF FO QFSGFDUF FTUBU 1SFDJP UPUBM F -0$"- --0(6&3 $ ®/(&- (6*.&3® N FOUSFTPM F -0$"- --0(6&3 N BM DPTUBU BKVOUBNFOU QMBOUB BNC BTDFOTPS FEJGJDJ EhPGJDJOFT .PMUB MMVNJOPTJUBU F -0$"- --0(6&3 3".#-" 4"/5 +0"/ CBJYPT N EF QBUJ QJT N *EFBM BCBJY NBHBU[FN P UBMMFS J B EBMU PGJDJOFT 'JODB TFOTF WFÕOT F -0$"- --0(6&3 $ 1037&/*3 N QBUJ HVBM F -0$"- --0(6&3 3#-" 45 +0"/ (6*9&3&4 N [POB EF QBT F -0$"- --0(6&3 Y Y N $ $BTUJMMFKPT 4FOTF WFÕOT .BHBU[FN UBMMFS 'ËDJM $BSHB %FTDBSHB F -0$"- --0(6&3 $ 4&-7" 4BOU $SJTU UJFOEB N F

-0$"- --0(6&3 $ 53".6/5"/" #6'"-® N JNQFDBCMF F

1*404 * $"4&4 &/ --0(6&3 1*4 --0(6&3 $ '&-*1 ** 1JT EF IBCJUBDJPOT EPCMFT TFNJNPCMBU FO QFSGFDUF FTUBU F UPU JODMÛT

5*"/" UPSSF BÕMMBEB FO MMPHVFS IBC EPCMFT CBOZT YFNFOFJB UFSSBTTFT KBSEÓ HBSBUHF BNPCMBEB FO QFSGFDUF FTUBU B EPT NJOVUT EhBVUPQJTUB F «5*$0 &/ "-26*-&3 $ "/(&- (6*.&3® N IBCJUBDJPOT DVJOB HSBO CBOZ USBTUFS TBGBSFJH UFSSBTTB EF N BNC WJTUFT B NBS DBMFGBDDJØ DPOUBEPST NPCMFT J FMFDUSPEPNÏTUJDT F 1*4 --0(6&3 $ "-'0/40 9** $ $0/26&45" FS TFOTF BTDFOTPS IBCJ UBDJPOT CBOZ CBMDØ UFSSBTTB F 1*4 --0(6&3 4&/4& "4$ #"33* #0/"7*45" IBC EPCMFT TBMØ NFOK CBOZ DVJOB QBUJ USBTU DBMFG BMUB EF TVNJOJTUSFT $POTVMUBS 1"3,*/(4 : 53"45&34 &/ --0(6&3 1-"±" -" 1-"/"

/"64 &/ --0(6&3 /"64 &/ --0(6&3 */%6453*"-4 $0.&3$*"-4 10-¶(»/ #0/"7*45" B QBSUJS EF N FO EVFT QMBOUFT F

7&/%" 5033& &/ 7&/%" 0#3" /07" $0." '04$" "-&--" "MU TUBOEJOH 1BSDFMrMB N $POTUSVJU N QJTDJOB FYUFSJPS QJTDJOB JOUFSJPS DMJNBUJU[BEB TBMØ N WBSJT CBOZT TBVOB FUD WFOUBOBMT FOPSNFT WJTUFT BM NBS NBUFSJBMT EhBMUB RVBMJUBU */'03."h5 -0$"- 7*7&/%" $ */%Á453*" O N TBMJEB EF IVNPT 3FGPSNBT F

*14#4+1 C *14#5 C *14#5 2NCÁC $CTÎ FG /CNF´ P 6GNU | #RCTVCV $#&#.10# $CTEGNQPC (#: | IGUVQTKC"IGUVQTKCOQPVUGTTCV EQO

QBH JOEE

727 %DGDORQD

LPPRELOLÁULD

"ENJOJTUSBEPST "TTPDJBUT "HFOU EF MB 1SPQJFUBU *NNPCJMJËSJB "1* 6OL LLOGAR EL SEU PIS FACI HO SENSE POR ,I GARANTIM EL COBRAMENT DEL LLOGUER CADA MES -ÌXIMA El CACIA I SERIETAT 4ENIM UNA AMPLIA BORSA DE LLOGATERS 0ROFESSIONALS DES DE

7&/%"

."4/06 $&/53& 1JT B SFGPSNBS N¤ å -" .03&3" $"4" *EFBM EPT GBNJMJBT TPMBS EF N¤ 1PTTJCJMJUBU E FEJGJDBS VO QJT ;0/" .0-5 53"/26*-" å -" .03&3" 1*4 N¤ NFOKBEPS N¤ IBC FYUFSJPST CBOZT DVJOB HBMFSJB J SFCFEPS 1PT QBSRVJOH NBUFJY FEJGJDJ å 13*. %VQMFY NFKBEPS N¤ BTFP IBC CBOZ DPNQMFU UFSSBTTB å %61-&9 ;POB 1SJN N QM NFOKBEPS N DVJOB N USBTUFS CBOZ UFSSBTTB N BDDFT B QBUJ EF N QM TVJUF N IBC %PCMF IBC *OE 5PUFT FYUFSJPST (PMGFT EF N TPSUJEB TPMBSJVN N 1PTJCJMJUBU EF QBSLJOH å 1-"/5" #"*9" N D 5PSUPTB QPTJCJMJUBE E BJYFDBS VO QJT å %61-&9 %"-5 7*-" N UFSSBTTB N IBC 4VJUF CBOZT QBSRVFU " " $BMFGBDDJØ NFOKBEPS TBMB DVJOB FRVJQBEB 1BSRVJOH 1FS FOUSBS B WJVSF å $"4" $&/53& 1# 1*4 . SFCFEPS NFOKBEPS TBMB DVJOB SFGPSNBEB QBUJ QFUJU MBWBCP IBC CBOZ DPNQMFU OPV UFSSBTTB CBMDØ J BMUFMM å 5&33&/: 1&3 &%*'*$"3 7"3*4 o 63# ."4 3". N å 1*4 $&/53& N IBC CBOZT DVJOB J NFOKBEPS HSBOT UFSSBTTB N å ."4 3". o ."(/*'*$" 5033& 7*45&4 &9$&-t-&/54 1 # NFOKBEPS B EPT OJWFMMT BNC TBMB E FTUBS DVJOB N EFTQBUY MBWBCP HSBO UFSSBTTB 1JT IBC CBOZT DPNQMFUT UFSSBTTB (BSBUHF J CPEFHB å

>KE ͬ ƚƌĂ͘ ŶƟ ŐƵĂ sĂůĞŶĐŝĂ Ͳ ŶĚƌĞƐ

-" .03&3" N¤ IBC EPCMFT CBOZT DBMFG UFSSBTTB N¤ J CBMDPOT 1JTDJOB DPNO 1PTTJCJMJUBU QL BM FEJGJDJ EFTQ JODM å $&/53& D 3JFSB .BUBNPSPT N IBCJUBDJPOT UPU DPNQMFSU DVJOB "NFSJDBOB OPV B FTUSFOBS å EFTQFTFT E FTDBMB å %"-5 %& -" 7*-" %61-&9 N CBOZT IBC N UFSSBTTB B D DBMFGBDDJØ UPU FRVJQBU EFTQ JODM å 1*4 $&/53& D "TTBNCMFB $BUBMVOZB N IBC CBOZ OPVT B FTUSFOBS .FOKBEPS BNC YFNFOFJB å $&/53& D 4 #SV EVQMFY N¤ IBC .FOKBEPS N¤ QBUJ N å &%*'*$* 0'*$*/&4 #BEBMPOB DFOUSF QMBOUFT $POTVMUBS 1*4 MB CBMTB N IBC CBOZ DPNQMFU å

-0$"$&/53& %&41"59 N å $&/53& MPDBM USBTQBT 1MBOUB N¤ 4PUBOP N¤ *EFBM PGJDJOB å -0$"-4 EF N D V $FOUSJDT *EFBM PGJDJOFT DFOUSF NÏEJD å D V -0$"- ;POB (PSH N¤ 'BÎBOB B EPT DBSSFST å -0$"- "SUJHVFT D #BMNFT N¤ 3&'03."%0 QVFSUBT å -0$"- .BSHBSJEB YJSHV BM DPTUBU 4FHVSFUBU 4PDJBM " $0/7&/*3

1"3,*/( 1-"±" ("3"5(& $ 3JFSB .BUBNPSPT å 1-"±" ("3"5(& $ 3JFSB .BUBNPSPT å 1-"±" ("3"5(& $ 4UB #ÈSCBSB .BSBHBMM $PUYF HSBO å 1-"±" ("3"5(& -" .03&3" $ 7BMFODJB QMBÎB BNC USBTUFS å 1-"±" ("3"5(& 'SBODFTD -BZSFU PO4PUBOP QMBDFT HSBOT å 1-"±" ("3"5(& D $BSJUBU å

7JB "VHVTUB -MFUSB # S (BMFSJFT 7JDUÛSJB 5FM 'BY t #BEBMPOB

5FM (&45*0/4 *..0#*-*®3*&4 "326*5&$563" 5µ$/*$" 3&' 1&1 7&/563" N IBC B FYUSFOBS SFG EF EJTF×P CB×PT ``VOJDP FO MB [POB Ƚ .*--ʥ 3&' $"--& #0/"7*45" ʤ--03&%"ʥ N IBCJUBDJPOFT B SFGPSNBS Ƚ .*--ʥ

^ĞŐŽǀŝĂ

3FG "-26*-&3 -MPSFEB $B MMF 3JV $POHPT U QBSB FOUSBS B WJ WJS Ƚ

."326&4 %& .0/530*( #"%"-0/" IBCJUBDJPOFT N Ƚ

1*40 &453&--" %VQMFY FO 5JBOB N IBC UFSSB[B EF N CB×PT [POB DPNVOJUBSJB DPO QJTDJOB QMB[B EF QBSLJOH ``PCSB TFNJOVFWB Ƚ NJMM

"MRVJMFS PCSB OVFWB IBCJUBDJPOFT N CB×PT N EF UFSSB[B `` QSFDJPTP Ƚ

"W -MPSFEB N QBSB FOUSBS B WJWJS `` VOJDP FO MB [POB Ƚ

hZ' s E Z

"-26*-&3 0#3" /6&7" IBCJUBDJPOFT N QBUJP EF N QBSLJOH QSJWBEP `` FT UJMP DBTJUB Ƚ %*410/&.04 %& 6/" $"35&3" %& $-*&/5&4 %& $0/'*"/;" 1"3" 46 1*40 %& "-26*-&3 -& "4&(63".04 464 1"(04 /6&45304 "º04 %& &91&3*&/$*" -0 "7"-"/ --«.&/04 4*/ $0.130.*40

5SBNJUBNPT $ÏEVMBT EF IBCJUBCJMJEBE Z QSPZFDUPT EF "SRVJUFDUVSB 5ÏDOJDB

727 %DGDORQD

QBH JOEE

&ĂŶƚĄƐƟ ĐŽ ƉŝƐŽ ĚĞ ϰ ŚĂďŝƚĂĐŝŽŶĞƐ͕ ĐŽĐŝŶĂ ĞƋƵŝƉĂĚĂ͕ ďĂŹŽ ĐŽŵƉůĞƚŽ͕ ďĂůĐſŶ Ă ůĂ ĐĂůůĞ͕ ƚŽĚŽ ƌĞĨŽƌŵĂĚŽ͘ WĂƌĂ ĞŶƚƌĂƌ Ă ǀŝǀŝƌ͘ &ƌĞŶƚĞ ĨƵƚƵƌĂ ƉůĂǌĂ͘ DƵǇ ďŝĞŶ ĐŽŵƵŶŝĐĂĚŽ͘ KĐĂƐŝſŶ͊͊ ŶƚĞƐ Ϯϳϱ͘ϬϬϬ Φ ,KZ ϮϬϵ͘ϬϬϬ Φ Ͳ hKd ϴϰϬ Φ ^ƌ͘ ŶƚŽŶŝŽ ϲϲϬ͘ϴϭϵ͘ϰϭϯ

--0(6&3

1*404

LPPRELOLÁULD

"!$!'%34)%- 3#0 '%34) . ).-/"),)!2)!

XXX CBEBHFTUJFN DPN JOGP!CBEBHFTUJFN DPN &%*'*$*0 %& 0'*$*/"4 0#3" /6&7" &/ &- $&/530 #"%"-0/" " .*/ %&- ":6/5".*&/50 %&41"$)04 " 1"35*3 %& å

#NGNNC Ō QVTCU RQDNCEKQPGU

+POQDKNCTKC KPHQ"I FQU EQO

/¶U +PHQ

8GPVC #NGNNC 5PSSF B WJFOUPT EF N FO VOB TPMB QMBOUB IBC TVJUF CB×PT BTFP TBMØO DPNFEPS EF N DPO DIJNFOFB DPDJOB PGGJDF EF N QPSDIF USBTUFSP CPEFHB QJTDJOB 1BSDFMB EF N $FSDB EF ."4 $0- FVSPT QUT

3FG DBT

$CFCNQPC 2GR 8GPVWTC 8GPVC $CFCNQPC 1SPHSÏT 1FQ 7FOUVSB $"4" $0/ 1"5*0 .6 $)"4 104*#*-*%"%&4 $BTB EF QVFCMP DPO QBUJP EF N QPTJCJMJEBEE EF IBDFS +POQDKNCTKC 1# QJTPT $FSDB EF /GVTQU %WCFTCFQU .FSDBEP 5PSOFS FVSPT /¶U +PHQ QUT

3FG DBT

6QTFGTC QVTCU RQDNCEKQPGU

+POQDKNCTKC &QP 2KUQ

/¶U +PHQ

8GPVC 6QTFGTC 4"/5 %"/*&- &TUVEJP TFNJOVFWP NVZ TPMFB EP FOUSF NBS Z NPOUB×B QJTDJOB USBORVJMJEBE JEFBM SFTJEFODJB FVSPT QUT

3FG QJT

8GPVC $CFCNQPC 1JTP FO QFSGFDUBT DPOEJDJP OFT UPUBMNFOUF FYU TPM UPEP FM EÓB TVFMP EF QBSRVFU [POB DPNVOJUBSJB DPO QJTDJOB [POB NVZ USBORVJMB FEJGJDJP EF PCSB WJTUB B EJF[ NJO EFM DFOUSP 1BSLJOH PQDJPOBM 2CTVKEWNCT å $FSDB EF BWEB /GVTQU %WCFTCFQU EFMT 7FOUT BWEB .BSUJ 1VKPM FVSPT /¶U +PHQ QUT

SFG QJT

4J FSFT VO RCTVKEWNCT RWDNKEC UV BOVODJP GP YYY JCDKVCNKU PGV /PSNBM ŝ OGU %FTUBDBEP JNÈHFOFT

ŝ OGU

YYY JCDKVCNKU PGV

QBH JOEE

$&/530 $PMM J 1VKPM 0GJDJOB FO FEJGJDJP EF EFTQBDIPT N å 1&1 7&/563" N QBUJP N *EFBM UPEP UJQP JOEVTUSJB #JFO DPNVOJDBEP DFSDB EFM NFUSP å 450 $3*450 .0/5*("-® N DPO TBMJEB EF IVNPT å 1"3,*/( " NJOVUPT EFM NFUSP 1FQ 7FOUVSB $PDIF HSBOEF å 1"3,*/( $FOUSP #BEBMPOB "M MBEP BNCVMBUPSJP å "7 ."35¶ 16+0- 0GJDJOB N &EJGJDJP DPNFSDJBM å

/ "7&4 o "-26*-&3 (3"/%&4 0103 56/*%"%&4 1&1 7&/563" 1PMÓHPOP .POUJHBMË /BWF FTRVJOFSB N FO QMBOUB DPNFSDJBM å $&/530 #"%"-0/" " NJO FTUBDJPO .VDIP QBTP EF HFOUF N &OUSF $ .BS Z .BSUÓ 1VKPM å ;0/" .0/5*("-® /BWF QMBOUBT N å

1*404 : 1"3,*/(4 &/ 7 &/5" --03&%" N IBC CB×PT CBMDØO 4FNJOVFWP 4VJUUF &YUFSJPS å 5*"/" $FSDB BZVOUBNJFOUP %ÞQMFY PCSB OVFWB N IBC CB×PT 5FSSB[B CVIBSEJMMB Z QMB[B QBSLJOH Z USBTUFSP PQDJPOBM å 1"3,*/( ;POB DFOUSP (SBO PQPSUVOJEBE *OWFSTJØO å 1"3,*/( 1FQ 7FOUVSB å 1"3,*/( ;POB 1SFNJË EF .BS DFOUSP QVFCMP " QBSUJS EF å

1"3,*/(4 &/ "-26*-&3 1"3,*/( 1FQ 7FOUVSB å

$ $PMM J 1VKPM #EO DFOUSP 5FM

(VJGSÏ #"%"-0/"

XXX QSPNPDBU FT

5F M Ø

$CFCNQPC $WHCN¶

#"%"-0/" 1*404 : $"4"4 &/ "-26*-&3 --03&%" .VZ DFSDB EFM $ $ .ËHJD #BEBMPOB N IBC CB×PT #BMDØO FYU å $&/530 $ 1SJN NJO QMBZB N IBC CB×PT (BTUPT DPNVOJEBE JODMVJEPT å $&/530 0CSB OVFWB N IBC CBMDØO #B×P D IJESPNBTBKF #JFO DPNVOJDBEP USBOT QVCMJDP å å $0/ 1"3,*/(

$&/530 $ EFM .BS «UJDP N IBC UFSSB[B N å 1&1 7&/563" "NVFCMBEP N IBC CBMDØO $PO BTDFOTPS å #0/"7*45" $"/:&5 0CSB OVFWB N IBC 4VFMP QBSRVFU " FTUSFOBS å 5*"/" 0CSB OVFWB EJTF×P %ÞQMFY IBC CB×PT CVIBSEJMMB UFSSB[B 1MB[B QBSLJOH PQDJPOBM å "7 ."35¶ 16+0- $BTB QMBOUBT [POB DPO QJTDJOB NÈT QBUJP 4FNJOVFWB å "-26*-&3 0'*$*/"4 -0$"-&4 53"41"404 : 1"3,*/(4

$"4" 1&1 7&/563" " 1301 .&530 3FG # $BTB EF N FO 1# 1BUJ N HBSBUHF 1PTTJCJMJUBU GFS EVFT WJWFOEFT JOEFQFOEFOUT QUT å

1*4 "- $&/53& 50$"/5 "-$"-%& 9*'3² 3FG # 1JT BNC IBC BCBOT USBTUFS CBOZ DPOTFSWBU DVJOB PGm DF DPOTFSWBEB NFOKBEPS FYU B CBMDØ B D DBMFGBDDJØ BTDFOTPS QUFT å

®5*$ " 1&1 7&/563" 130(3²4 3FG # ®UJD EF IBC DVJOB PGm DF HSBO DPOTFWBU DBMFGBDDJØ NFOKBEPS FYU B UFSSBT TB EF N¤ USBTUFS BTD JEFBM QBSFMMFT QUFT å

i0'&35"i 1&1 7&/563" 3FG # 1JT BNC IBCJUBDJPOT DVJOB SFGPSNBEB DBMFGBDDJØ J B D JEFBM QFS QBSFMMFT QUFT å

-0'5 % 0#3" 4&.*/07" " 1&1 7&/563" 3FG # 1JT UPU OPV BNC IBC EPCMF CBOZ DPNQMFSU

BTFP DVJOB BNFSJ DBOB NFOKBEPS FYU B UFSSBTTB EF N¤ B D BNC CPNCB DBMPS BTDFOTPS QUFT å

1&1 7&/563" 1" 7&--¾ 0-*.1*$ 3FG # 1JT EF N¤ EF UFSSBT TB IBC NFOKBEPS FYU BNC TPSUJEB B UFSSBTTB DVJOB J CBOZ QFS SFGPSNBS *EFBM QBSFMMFT QUFT å

®5*$ % 0#3" 4&.*/07" " 1&1 7&/563" 3FG # ®UJD BNC UFSSBTTB EF N¤ IBC NFOKBEPS FYU B HSBO CBMDØ CBOZ DPNQMFU DVJOB PGm DF UPU SFGPSNBU J FYUFSJPS DBMFGBDDJØ J B D BTDFOTPS 5PU OPV QUFT å

#6'"-® %$ 30#&35 3FG # 1JT BNQMJ EF IBC NFO KBEPS FYU CBOZ J DVJOB SFGPSNBUT QJT FYUFSJPS J BNC NPMUB MMVN QUFT å

727 %DGDORQD

BENJOJTUSFN MB TFWB FTDBMB

"%.*/*453"%03&4 %& '*/$"4

EFT Eh å

4S 1SPQJFUBSJP BMRVJMBNPT TV JONVFCMF TJO HBTUPT QBSB VTUFE

1FS QJT DBEB NFT

1SFV TFOTF * 7 " QFS B VOB FTDBMB EF NÏT EF WFÕOT J TFOTF DPODFQUFT EhBENJOJTUSBDJØ GBDUVSBCMFT $POTVMUJ TFOTF DPNQSPNÓT FM QSFTTVQPTU QFS B MB TFWB FTDBMB

(BSBOUJ[BNPT FM DPCSP NFOTVBM

$FOUFMMBT /PU "TTPDJBUT

5FOFNPT QJTPT FO BMRVJMFS EFTEF å NFT FO UPEB MB [POB EF #BEBMPOB

$PMrMFHJBU #$/

LPPRELOLÁULD

$0.6/*5"54 %& 1301*&5"3*4

'SBODFTD -BZSFU #BEBMPOB

6U 3URSLHWDULR 3UHFLVDPRV SLVRV GH DOTXLOHU SDUD GDU VDOLGD D OD JUDQ GHPDQGD GH FOLHQWHV TXH WHQHPRV HQ FDUWHUD VHOHFFLRQDGRV \ VROYHQWHV

7HO 1. .')+#6

'PJY $BSCØ BTTPDJBUT

5*"/"

(àFMM J 'FSSFS CBJYPT #"%"-0/" r XXX GPJYDBSCP FT

$ .BS OÞN

- - 0 ( 6 & 3

%*3&$5& $0/4536$503

# " % " - 0 / "

1*4 " 1( ."3¶5*. IBC UFSSBTTB 1L WJTUFT B NBS F 1*4 " 1- ."3*/"%" IBC UFSSBTTB FYUFSJPS F 1*4 " $ (3"/"%" MPGU N F 53"45&3 " $ (6*9&3&4 N F -0$"- " $ *4""$ 1&3"- N F -0$"- $ *(/"4* -0*0-" -" 1-"/" N F -0$"- " $ (Ã&-- * '&33&3 N TPUFSSBOJ N F -0$"- " $ 130%*7µ/$*" N TPUFSSBOJ N F -0$"- " $ .*26&- 4&37&5 N F -0$"- " $ "-'0/4 9** N TPUFSSBOJ N F %&41"59 $ (Ã&-- * '&33&3 QMBOUB N F %&41"59 $ *(/"4* -0*0-" -" 1-"/" N F 1-"±" 1, .050 " $ (6*9&3&4 F 1-"±" 1, $059& " $ "3/Á4 F

1JTPT IBCJUBDJPOT CBOZT CBMDØ QMBDFT EF QËSRVJOH J USBTUFS ®UJD IBCJUBDJPOT CBOZT UFSSBTTB N QMBDFT EF QËSRVJOH J USBTUFS

7 & / % "

# " % " - 0 / "

#BJYPT IBCJUBDJPOT CBOZT BTFP KBSEÓ N QMBDFT EF QËSRVJOH J USBTUFS $BMFGBDDJØ J BJSF DPOEJDJPOBU

$"4" $ $0/$)" &41*/" N QMBOUB CBJYB TFNJOPWB IBC CBOZT UFSSBTTB QBSRVJOH F $"4" " $ $&37"/5&4 N TFNJOPWB TPUFSSBOJ N QC N QJT N IBC CBOZT UFSSBTTB QBUJ F $"4" " $ 6/*» N QBSRVJOH F 1*4 " $ $0/26&45" N IBC CBOZT KBSEÓ 1L F 1*4 " $ ."35¶ 16+0- N IBC SFGPSNBU UFSSBTTB F 1*4 " $ .&453& /*$0-"6 N IBC QL F 1*4 " 1-"±" 7*-" N F 1*4 " $"-%&30/ %& -" #"3$" N IBC QBUJ F 1-"±" 1, 45" #"3#"3" $ ."3"("-- F 1-"±" 1, 45" #"3#"3" $ ."3"("-- F

5FM

+//1$+.+À4+# 5SPCB FM UFV JNNPCMF

5 * " / " 1-"±" 1, $ 1"44&*( 7*-&4" F

5FM 727 %DGDORQD

QBH JOEE

LPPRELOLร ULD

$0/46-5*/( Z (&45*ยป/ */5&(3"- 4 - 1SFTJEFOU $PNQBOZT ย ย #BEBMPOB 'BY +PSHF 'JMFMMB .BT

'N /CUPQW QVTCU RQDNCEKQPGU 8GPVC 'N /CUPQW 1JTP DPO WJTUBT FTQFDUBDV MBSFT EF N DPO IBC CBร P BTFP DPDJOB DPO HBMFSร B TBMร O DPNFEPS EF N DPO TBMJEB B CBMDร O "TDFOTPS 7JTUBT FTQFDUB DVMBSFT *NQFDBCMF +POQDKNCTKC KPHQ"I FQU EQO $FSDB EF ;0/" "-5" FVSPT /ยถU +PHQ QUT

3FG QJT

8GPVC $CFCNQPC

/ยถU +PHQ

-0$"-&4 : /"7&4 &/ 7&/5" : "-26*-&3 /"7& &/ 7&/5" -"4 '3"/26&4"4 %&- 7"--ยต4 . &/ %04 1-"/5"4 %& . $"%" 6/0 1"5*0 %& . &6304

&/ 7&/5" -0$"- &/ 4 "%3*"/ . &/53"%" %& $0$)&4 รฅ

$ "OHFM (VJNFSB #"%"-0/" "/(&- (6*.&3" 1JTP DPO BTDFOTPS IBC DPD Z CBร P SFG CBMD TVFMP HSFT (3"/ 0$"4*0/ FVSPT QUT

3FG QJT

$CFCNQPC $WHCNยด

+POQDKNCTKC )TWRCUUC

"5&/$*ยป/ 1301*&5"3*04 $0.13".04 46 1*40 %& )"45" &6304 1"(0 "- $0/5"%0

/"7& &/ 7&/5" #"%"-0/" $ $03%&34 . 1-"/5" #"+" "-5*--0 50%04 -04 46.*/*45304 &6304

$CFCNQPC

+POQDKNCTKC &QP 2KUQ

8GPVC $CFCNQPC #VGBMB BUJDP #VGBMB %S 3PCFSU BUJDP EF IBC CBร P DPNQMFUP UPUBMN SFGPSNBEP UFSSB[B EF N TPM UPEP FM Eร B DFSDB EF NBSUJ|QVKPM JOEFQFOEFDJB FVSPT QUT

SFG QJT CE

&/ 7&/5" #"%"-0/" 3*&3" ."5".0304 -0$"- 0 7*7*&/%" 16&35" .54 "-."$ยฒ/ .54 : -"7"#0 .&4 &/ "-26*-&3 /"7& */%6453*"- -&4 '3"/26&4&4 %&- 7"--ยต4 . &/ 1-"/ 5" #"+" . &/ 1-"/5" 461&3*03 (3"/ 1"5*0 %& . & .&4 &/ "-26*-&3 -0$"- &/ #"%"-0/" $ 4"/ 4"-7"%03 %&45*/"%0 " 0'*$*/"4 $0/46-503*0 .ยฒ%*$0 %&41"$)04 %& &--04 . รฅ .&4 &/ "-26*-&3 -0$"- &/ #"%"-0/" $ 4"/ 4"-7"%03 %&45*/"%0 " 0'*$*/"4 $0/46-503*0 .ยฒ%*$0 %&41"$)04 . รฅ .&4 &/ "-26*-&3 -0$"- &/ #"%"-0/" $ +)0/ -&/0/ . #"ยบ0 &95&3*03 รฅ .&4 &/ "-26*-&3 -0$"- ."3("3*5" 9*3(6 '3&/5& 4 4 . .ยซ4 . %& 1"5*0 16&35"4 รฅ .&4

1*404 &/ 7&/5" : "-26*-&3 &/ "-26*-&3 -" 4"-65 )"#*5"$*0/&4 #"ยบ0 1"3" &/53"3 " 7*7*3 "- 26*-&3 &6304 "- .&4 &/ "-26*-&3 45" $0-0." )"#*5"$*0/&4 6/ #"ยบ0 $0$*/" &6304 "- .&4 &/ "-26*-&3 1*40 1&1 7&/563" )"# #"ยบ0 $0$*/" &6304 "- .&4

.NQTGV FG /CT QVTCU RQDNCEKQPGU

&/ "-26*-&3 1*40 45" $0-0." )"# #"ยบ0 $0$*/" &6304 "- .&4

8GPVC .NQTGV FG /CT '"/"-4 "QUP IBC SFG UPEP FRVJQBEP NVZ TPMFBEP QJTDJOB U[B Nยค DFSDB QMBZB `0QPSUVOJEBE ร OJDB FVSPT QUT

3FG QJT

&/ 7&/5" 1*40 &/ $ 4"/ #36 #"%"-0/" )"# #"ยบ04 50%0 3&' $"-&' 1"3,&5 5&33";" %& .54 7&/5"/"4 %& "-6.*/*0 -"7"%&30 ;0/" $0 .6/ "+"3%*/"%" 53"45&304 1-";" %& 1"3,*/( 01$ &6304

4J FSFT VO RCTVKEWNCT RWDNKEC UV BOVODJP GP YYY JCDKVCNKU PGV

&/ 7&/5" 1&1 7&/563" )"#*5"$*0/&4 #"ยบ0 $"-&'"$$*ยป/ . &6304

/PSNBM ล OGU

1*40 &/ 7&/5" -" 4"-65 $ .*(6&- 13"54 . )"#*5"$*0/&4 : 6/ #"ยบ0 $0$*/" $0/ ("-&3*" #0.#" %& "*3& '3ยถ0 : $"-03 /0 5*&/& "4$&/403 13&$*0 &6304

2CTVKEWNCT &QP 2KUQ

/ยถU +PHQ

%FTUBDBEP JNร HFOFT

&/ 7&/5" 1*40 &/ #"%"-0/" $ 4"/5" ."3*" )"#*5"$*0/&4 . /0 5*& /& "4$&/403 ย 1*40 &6304 &/ 7&/5" 1*40 #6'"-" )"#*5"$*0/&4 #"ยบ0 $0$*/" /6&7" . &6304 &/ 7&/5" $"4" 4"/50 $3*450 )"# #"ยบ0 . &6304 &/ 7&/5" 4"-6% )"#*5"$*0/&4 #"ยบ0 . &6304

&/ 7&/5" 1*40 &/ #"3$&-0/" $ #"-.&4 )"#*5"$*0/&4 #"ยบ0 $0$*/" ("-&3*" $6#*&35" . &6304

ล OGU

&/ 7&/5" $"4" $ .63*--0 #"%"-0/" 1-"/5"4 #"ยบ0 $0.1-&504 4" -ยป/ $0.&%03 $0$*/" )"# 4ยป5"/0 $0/ 1"5*0 +"10/ยฒ4 : %*ยซ'"/0 5&33";" 1&/%*&/5& 5&3.*/"3 &6304

YYY JCDKVCNKU PGV

$0/46-5"3 13&$*04

QBH JOEE

727 %DGDORQD

5FM

7&/%&4

1M EFM 4PM #EO 5FM 'BY /PWB 0GJDJOB $ *OEÞTUSJB #EO 5FM 'BY

LPPRELOLÁULD

4&37&*4 *..0#*-*®3*4 '*/"/$*"$*»

0#3" /07" 3&'03.&4 */5&(3"-4 13&446104504 4&/4& $0.130.¶4

1JTPT FO -MPHVFS BNC PQDJØ EF DPNQSB

1*404 % 0#3" /07"

#BEBMPOB $FOUSF $BTBHFNFT 1JT EÞQMFY Y QMBOPMT N ÞUJMT EPSN EPCMFT CBOZT DVJOB PCFSUB TBMØ NFOKBEPS N 0QD UFSSBTTB å #BEBMPOB $FOUSF *OEÞTU ' .BSÓUJN ®UJD TPUBDPCFSUB J UFSSBTTB N CBOZT IBCJU & TPMBS QBSRVFU QPSUFT FO GBJY DMJNBUJ BTD å #BEBMPOB $FOUSF *OEÞTU ' .BSÓUJN #BJYB EVQMFY N EPSN CBOZT UFSSBTTFT & TPMBS QBSRVFU QPSUFT GBJY DMJNBU N FYUFS å #BEBMPOB $FOUSF *OEÞTU ' .BSÓUJN 1JT B 1MUB UFSSBTTB N CBOZT )BCJU & 4PMBS 1BSRVFU QPSUFT FO GBJY $MJNBUJU[BDJØ å #BEBMPOB $FOUSF *OEÞTU ' .BSÓUJN ®UJD TPUBDPCFSUB J UFSSBTTB N CBOZT IBCJU & TPMBS QBSRVFU QPSUFT FO GBJY DMJNBU BTD å #BEBMPOB $FOUSF *OEÞTU ' .BSÓUJN 1JT O N UFSSBTTB J CBMDØ CBOZ IBCJU & TPMBS 1BSRVFU QPSUFT FO GBJY $MJNB "TD å #BEBMPOB %S 3PCFSU #VGBMË 1JTPT N QBUJ UFSSBU IBCJU TVJUF CBOZT BTD 1BSRVFU 1PSUFT SPVSF & 4PMBS $VJOB FRVJQ $MJNB EFT EF å #BEBMPOB $FOUSF *OEÞTU ' .BSÓUJN 1JTPT BDBCBUT B RVBMJUBU J IBCJU TVJUFT HSBOT UFSSBTTFT QBSRVFU +BUPCB DVJOB 4BOUPT FRVJQBEB UPUBMNFOU CBOZT BNC NPCMFT J NBNQBSFT DMJNBUJU[BDJØ TBGBSFJH SFOUBEPSB BTTFDBEPSB "MBSNB "M MVNJOJ "VUP "TD ;POB $PNVO 1JTDJOB PQD QMBDFT E BQBSDBNFOU J USBTUFST EFT EF å

1*404 4&.* /064

EJOPV

#BEBMPOB $FOUSF 4U +BVNF 3BNCMB 1JT N QFS FOUSBS B WJVSF UPUBMNFOU SFGPSNBU IBCJU TBGBSFJH $VJOB FRVJQ CBOZ QPSUFT SPVSF DBMFG (BT " " å #BEBMPOB 4BHVOU 1JT UPUBMNFOU SFGPSNBU N IBCJU TVJUF CBOZT CBMDPOT UFSSBTTB DBMFG BTD GJOT M JOUFSJPS QJT QPSUFT GVTUB å #BEBMPOB &MT 7FOUT #VGBMË 1JT BOZT QFSGFDUBNFOU EFDPSBU N IBCJU 4VJUF CBOZT ;POB $PNVO 1JTDJOB 0QD USBTUFS J HBSBUHF å 5JBOB .BUBT 1JT USJQMFY UFSSBTTFT N IBCJU CBOZT TBMB TPUBDPCFSUB QPSUFT DJSFSÏ " "D $BMFG %F (BT 1BSRVFU å 5JBOB 7 .FSDÒ 1JT B 1MUB N BNC UFSSBTTB HBSBUHF )BCJU CBOZT $BMFG "TDFOTPS ;POB DPNVOJUËSJB BNC QJTDJOB å -0$"- $0.&3$*"- #6'"-® -PDBM $PNFSDJBM $ *OEFQFOEÒODJB #VGBMË 4VQFSG N 1PTTJCJMJUBU EF DPOWFSTJØ FO -0'5 å

1-"$&4 % "1"3$".&/5 #BEBMPOB 4BHVOU 1SJODFQ #FSHBSB 1MBÎB OÞN 4VQFSG N #BEBMPOB 4BHVOU 1SJODFQ #FSHBSB 1MBÎB OÞN 4VQFSG N #BEBMPOB . "VYJMJBEPSB 1POFOU 1MBDFT OÞN J #BEBMPOB . "VYJMJBEPSB 1POFOU 1MBÎB OÞN J #BEBMPOB (VJGSÏ 1MBÎB OÞN

å å å å å

%JOP V 0 C S F T J $ P O T U S VD DJP O T 4 - r X X X EJOP VD TM D PN r F NBJM EJOP V @ D P O T U S VD ! U FS S B F T

+//1$+.À4+# BOVODJB U FO BRVFTUB TFDDJØ r CBEBMPOB!FMUPUEJHJUBM DPN

$)"-&54 %& $"5"-6/:" 4 - 5MG ZZZ FKDOHWVGHFDWDOXQ\D FRP

££&$6$6 2%5$ 18(9$ D .P &DPSR *ROI 6DQW (VWHYH GH 6HVURYLUHV

&$6$6 $ 9,(1726 2%5$ 9,67$ P 3$5&(/$ +$% VXLWWH %$f26 3$5.,1* 35,9$'2 )5(17( ) ) & & $ 0,1 %&1 ,QIyUPHVH VLQ FRPSURPLVR

727 %DGDORQD

QBH JOEE

3,6$=2 (1 %$'$/21$

2%5$ 18(9$ $ PLQ 3(3 9(1785$

),1&$ (648,1(5$ 2%5$ 9,67$ &21 $6&(1625 72'2 (;7(5,25 0 %$/&Ï1 +$% '2%/(6 3$5.,1* ,1&/8,'2

'Ò3/(; (;7(5,25(6 2%5$ 9,67$ +$% %$f26 3$5.,1* 35,9$'2 3$7,2 0ð 7=$6 25,(17 0$5 62/2 9(&,126

``*%&"- 103 13&$*0 35(*817( 6,1 &203520,62

Ò1,&2 (1 /$ =21$

7 * 7 * & / %" 4 % & 0 # 3 " / 6 & 7" % & $ " - * %" % " 1 3 & $ * 0 % & $ 0 4 5 & $ 0 / 4 Á -5 & / 0 4 &O #BEBMPOB Z PUSBT QPCMBDJPOFT

FODVVLILFDWV

&ODVVLILFDWV

$PN JOTFSUBS VO BOVODJ DMBTTJmDBU r " MFT OPTUSFT PmDJOFT $ -MFØ FS B #BEBMPOB r 5FM r

4& 7&/%& 1*40 &/ --03&%" /6&7" %F QBSUJDVMBS B QBSUJDVMBS N QMBOUB EPSNJUPSJPT CB×P OVFWP DPNQMFUP "TDFOTPS /VFWP CVFOB WJTUB 5PEP FYUFSJPS #BMDØO å 1UBT 1MB[B QBSLJOH PQDJPOBM BQBSUF 5&- .»7*-

+OOQDKNKCTKU %QORTC 8GPFC 4"/50 $3*450 3&' 1JTP IBCJUBDJPOFT N SFGPSNBEP CBMDØO BTDFOTPS å 5&- --03&%" 3&' 1JTP IBC 0CSB CB×PT DBMFGBDDJØO HBT OBUVSBM BTDFOTPS CBMDØO BNVFCMBEP D P O F M F D U S P E P N Ï T U J D P T 1BSLJOH PQDJPOBM å 5&-

1*4 . $"4"(&.&4 &OUSF QSJNFSB J TFHPOB MÓOJB EF .BS &OUSBEB JOEFQFOEFOU CBJYPT QFS DBSSFS QFBUPOBM IBCJUBDJPOT 0CSB EF BOZT å 5&-

-0$"- . DPO WBEP 3BNCMB 4BO +VBO 3FGPSNBEP OVFWP 1UBT 0QDJØO BMRVJMFS 5&-

5 3 "45 & 30 & / 7 & / 5" QSJWBEP Z EF GÈDJM BDDFTP QSFDJP å *OGPSNBDJØO TJO DPNQSPNJTP 5&-

0#3" /6&7" CBKP QMBOPT [POB 4JTUSFMMT FTUVEJP å %ÞQMFY VOP CBKP Z FM PUSP ÈUJDP B QBSUJS EF å 4PMP WFDJOPT QMBDBT TPMBSFT UFSSB[BT ÁOJDPT 5&-4

7&/%0 1*40 &/ 10."3 N IBCJUBDJPOFT EPCMFT 7JTUBT B QBSRVF JOGBOUJM CPNCB EF DBMPS 1SFDJP QUBT /FHPDJBCMF 5&- 010356/*5"5 $"4" " 1&1 7&/563" 3&' # $BTB BNC UFSSFOZ N¤ J GBÎBOB N QBUJ N¤ J UFSSBTTTB N¤ PSJFOUBDJØ NBS J NVOUBOZB TPM UPU FM EJB &T QPU FEJGJDBS QC

HPMGFT QUFT å 5&-

$"4" &/ 7&/%" $&/53& 1 0 # - & $ " 3 % & % & 6 " SFGPSNBS N HBSBUHF WJWFOEB TÛUBO 5PU FO QMBOUB CBJYB KBSEÓ B WFOUT " N "KVOUBNFOU å 5&- 7&/%0 1*40 &/ #"%"-0/" " N V F C M B E P F R V J Q B E P QBSB WJWJS IBCJUBDJPOFT TBMØO UFSSB[BT DBMFGBDDJØO BTDFOTPS +VOUP NFUSP 1FQ 7FOUVSB 5&-

1 - " ± " 1 & 1 7 & / 5 6 3 " '3"/$&4$ ."$*® 3&' # QJT JEFBM QBSFMMFT N¤ IBCJUBDJPOT NFOKBEPS FYUFSJPS B D BTDFOTPS QUFT å 5&-

&4 7&/&/ 1-"±&4 %& 1" 3 , * / ( " - * / & " % & 4 1SFTJEFOU DPNQBOZT 5&-

&$0/0.*$4 /PVT JOEE

727 %DGDORQD

5SFCBMM

.PUPS

7BSJT

"NJTUBUT

$MBTTFT

FODVVLILFDWV

*NNPCJMJBSJT

$PN JOTFSUBS VO BOVODJ DMBTTJmDBU r " USBWÏT E *OUFSOFU *OTFSFJYJ FM TFVT BOVODJT B USBWÏT EF MB OPTUSB XFC XXX FMUPUEJHJUBM DPN

1-";" 1"3,*/( &/ 7&/5" 5033&/5 %& #"5--03*" 5JFOF BTDFOTPS 1MB[BT P .FEJEBT Y 1SFDJP å 5&- 1"53* 1-";" 1"3,*/( &/ 7&/5" 0 "-26*-&3 5033&/5 %& #"5--03*" 5JFOF BTDFOTPS 1MB[BT QMBOUB QSJNFSB .FEJEBT Y 1SFDJP WFOUB å 1SFDJP BMRVJMFS å 5&- 1"53* 4& 7&/%&/ 1-";"4 %& 1"3,*/( */%&1&/%*&/5&4 5033&/5 %& #"5--03*" " QJF EF DBMMF 'ÈDJM BDDFTP 5JFOF BTDFOTPS .FEJEBT Y 1SFDJP å 5&- 1"53* `0$"4*»/ 1*40 50%0 3&'03."%0 &/ 7&/5" &/ $ -*4;5 N BMUVSB SFBM IBCJUBDJPOFT DPDJOB Z CB×P SFGPSNBEPT DBSQJOUFSÓB EF BMVNJOJP DPO NPTRVJUFSBT SFKBT UFSSB[B Z HBMFSÓB QVFSUBT Z TVFMP DPOTFSWBEPT 1SFDJP å 5&- 1"53* «5*$0 &/ 7&/5" &/ $ .*-" * '0/5"/"-4 45" $ 0 -0 . " ( 3 " . & / & 5 N IBCJUBDJPOFT TBMØO DPNFEPS N¤ DPDJOB Z CB×P DPNQMFUP SFGPSNBEPT UFSSB[B N¤ $BSQJOUFSÓB BMVNJOJP QVFSUBT SPCMF TVFMP EF HSFT "JSF BDPOEJDJPOBEP GSÓP Z DBMPS 4PMFBEP 1SFDJP å 5&- 1"53*

1*40 &/ 7&/5" $ +0$4 ' -0 3 " - 4 # " %" -0 / " N¤ 'JODB DPO BTDFOTPS IBCJUBDJPOFT TBMØO TPMFBEP DPO CBMDØO DPDJOB Z CB×P QJF[BT SFGPSNBEPT TVFMP EF QBSLFU DBMFGBDDJØO Z BJSF BDPOEJDJPOBEP 1SFDJP WFOUB å 5&- 1"53* 1*40 &/ "-26*-&3 $ 4"/ +6"/ %& -" $36; N TJO BTDFOTPS IBCJUBDJPOFT DPNFEPS DPO CBMDØO B MB DBMMF $PDJOB MBWBCP HBT OBUVSB MV[ BHVB 1SFDJP å 5&- 1"53* ``0$"4*»/ 1-"/5" #"+" &/ 7&/5" ;0/" 4"/50 $3*450 N IBCJUBDJPOFT E P C M F T D P D J O B Z C B × P SFGPSNBEPT XD Z EVDIB JOEFQFOEJFOUF BEFNÈT EF HBMFSÓB $BSQJOUFSÓB EF BMVNJOJP QVFSUBT TBQFMZ TVFMP EF HSFT 4PMFBEP -JTUB QBSB FOUSBS B WJWJS 1SFDJP å 5&- 1"53* /FHPDJBCMFT 1*40 &/ 7&/5" #"3$&-0/" 3*&3" "-5" JEØOFP QBSB FTUVEJP N CBMDPOFT B MB DBMMF IBCJUBDJPOFT EPCMFT DPDJOB DPO MBWBEFSP USBTUFSP Z VO QBUJP " SFGPSNBS 1SFDJP å 5&- 1"53* 4& 7&/%& 1-";" %& $0$)& FO FM QBSLJOH -B 1MBOB 5&-

%Á1-&9 &/ 7&/5" ;0/" "-$".10 45 "%3*® N¤ GJODB OVFWB TPMP WFDJOPT IBCJUBDJPOFT CB×P DPNQMFUP Z BTFP CBMDPOFT Z HSBO UFSSB[B DBMFGBDDJØO 1SFDJP å 5&- 1"53* 1"3,*/( &/ 7&/5" $ 4BHVOUP 1BSB DPDIF HSBOEF å 5&- 727 %DGDORQD

&$0/0.*$4 /PVT JOEE

FODVVLILFDWV

0 $ " 4 * » / 1 * 4 0 50 % 0 3&'03."%0 &/ 7&/5" 450 $3*450 N¤ BTDFOTPS TPMFBEP Z UPEP SFGPSNBEP IBCJUBDJPOFT QBSRVFU Z QVFSUBT IBZB DBSQJOUFSJB EF BMVNJOJP CMBODB HBT OBUVSBM Z CBMDPO "MUJMMP FO QBTJMMP GBDIBEB SFGPSNBEB 1SFDJP å 5&- 1"53* 1*40 &/ 7&/5" ;0/" 1"#&--»/ +07&/565 N¤ GJODB DPO BTDFOTPS Z NVZ MVNJOPTP UPEP FYUFSJPS IBC EPCMF BTFP Z CB×P DPO DVBUSP QJF[BT DPDJOB SFGPSNBEB DPO HBMFSÓB CBMDØO FYUFSJPS BSNBSJPT FNQPUSBEPT FO QBTJMMP DBMFGBDDJØO DBSQJOUFSÓB EF BMVNJOJP DPO DSJTUBM EPCMF Z TVFMP UFSSB[P ;POB DPNVOJUBSJB Z GJODB UPUBMNFOUF SFIBCJMJUBEB 1SFDJP WFOUB å 5&- 1"53* /FHPDJBCMFT 7&/5" 1*40 %& 1"35*$6-"3 &/ ;0/" 4"/50 $3*450 JOUFS I DPD C× Z HBMFSÓB "QSPY N å 5&-

0#3" /07" $ */%6453*" "- $045"5 %& - */45*565 i-" --"6/"w CBJYPT EF N

UFSSBTTB EF N IBC USBTUFS B D DBMPS QBSRVFU BMVNJOJ 1SFV å 5&-

1*40 &/ 7&/5" ;0/" $0-- * 16+0- N¤ GJODB DPO BTDFOTPS IBCJUBDJPOFT EPCMF CB×P EF PSJHFO DPDJOB SFGPSNBEB CBMDØO FYUFSJPS DFSSBEP DPO DBSQJOUFSÓB EF BMVNJOJP QVFSUBT EF PSJHFO " " DPO CPNCB EF DBMPS DBSQJOUFSÓB EF BMVNJOJP Z TVFMP HSFT (BT DJVEBE 1SFDJP WFOUB å 5&- 1"53*

;0/" $&/530 1"3,*/( &/ 7&/5" 1SFDJP å 5&- Á -5 * . " 4 50 3 3 & 4 & / 7&/5" &/ 10/50/4 %FTEF å */'0 XXX DBVSGJMGFSSP DPN 5&-

$"4" 7&/5" 0 "-26*-&3 4"/5 $&#3*® %& 7"--"-5" B×PT EF BOUJHàFEBE NUST DPOTUSVJEPT NÈT NUST EF KBSEÓO Z NUST EF UFSSFOP IBCJUBDJPOFT CB×PT UFSSB[B QBMB[B HBSBKF USBTUFSP DBMFGBDDJØO CVFO FTUBEP 1SFDJP BMRVJMFS å NFT 1SFDJP WFOUB å 5&- 1"53*

4& 7&/%& 0 "-26*-" -0$"- $0.&3$*"- N N EF BMNBDFO *EFBM QBSB PGJDJOBT P UJFOEB BSUJDVMPT SFHBMP */'0 4& 7&/%& $"4" %& . &/ (*30/&--" *EFBM JOWFSTPSFT å */'0

1*40 &/ 7&/5" --03&%" N IBC EF FMMBT TVJUF $PDJOB BNQMJB CB×PT UPEP OVFWP 1BSRVFU DBMFGBDDJØO Z BJSF BDPOEJDJPOBEP "TDFOTPS 1SFDJP WFOUB å 5&- 1"53*

& 4 7 & / 0 # 3 " / 07" & / $ 0 / 45 3 6 $ $ * » $ 4"/5*"(0 364*º0- N FO QMBOUB CBJYB QMBOUB QMBOUB J HPMGFT HBSBUHF NFOKBEPS DVJOB BTFP CBOZ IBCJUBDJPOT QBSLFU BJSF DPOEJDJPOBU UFSSBTTB å 15"4 5&-

%626& "#0("%04 "4&403*" $0/5"#-& -"#03"- : '*4$"1*404 &/ "-26*-&3

$ 5&.1-& N IBC EPT CB×PT DPDJOB UPEP FYUFSJPS FVSPT 1-;" ."3*/"%" IBC UPEP FYUFSJPS CB×P BTFP DBMFG B B UPEP FYUFSJPS WJTUBT BM NBS FVSPT 3".#-" 4"/ +6"/ ÈUJDP IC UFSSB[B EF N FVSPT #6'"-« $BTB VOJGBNJMJBS BNVFCMBEB HBSBKF USFT QMBOUBT QBUJP FVSPT "7%" ".&3*$" IBC FYUFSJPS BTDFOTPS FVSPT --03&%" 14+ 3*6 $0/(045 IBC DPNFEPS DPDJOB FYUFSJPS CBMDØO FVSPT 14+ ."3$0/* )BC DPNFEPS DPDJOB HBMFSÓB NVDIB DMBSJEBE FVSPT $ ."%0; IBC DPNFEPS DPDJOB CB×P DPO QMBUP EF EVDIB FVSPT $ .0/54&33"5 N IBC DPNFEPS DPDJOB CBMDØO JOUFSJPS DPO DMBSJEBE FVSPT $ .054&33"5 N IBC DPNFEPS DPDJOB CBMDØO FYUFSJPS FVSPT

&4 7&/ -0'5 %& %*44&/: "- $&/53& %& #"%"-0/" N CBOZ J DVJOB QBSLFU BJSF DPOEJDJPOBU å QUFT 5&-

1*404 : $"4"4 &/ 7&/5" 5*"/" $ ."5"4 N IBC DPNFEPS CBMDØO DPDJOB DBMFG B B [POB DPNVOJUBSJB DPO QJTDJOB FYQMFOEJEBT WJTUBT UPEP FYUFSJPS CJFO DPNVOJDBEP QMB[B EF QBSLJOH FVSPT $ 6/*0 $BTB EF N FO USFT QMBOUBT QBUJP OVFWB EF EJTF×P FVSPT "7%" ."326&4 %& .0/530*( IBC CB×P BTFP FVSPT &- 130(3&4 $BTB 3PHFS EF 'MPS FO WFOUB EPT QMBOUBT Z TØUBOP PQDJØO EF IBDFS CPIBSEJMMB QBUJP FVSPT $ /06 $"4"4 DBTB EF USFT QMBOUBT DPO HBSBKF TØUBOP UFSSBEP EF N DBMFGBDDJØO UPEB FYUFSJPS QBUJP FVSPT #6'"-" 1JTP IC QBSLJOH PQDJPOBM FVSPT "7% 4 4"-7"%03 QJTP EF IBC BSSFHMBEP FVSPT --&'*" 1JTP BTDFOTPS FYUFSJPS FVSPT 5&.1-0 . TPMP EPT WFDJOPT OFDFTJUB BSSFHMPT FVSPT "7% ".&3*$" IC NVDIB DMBSJEBE BTDFOTPS FVSPT $ ."%0; IBC DPNFEPS CBMDØO CB×P QMBUP EF EVDIB FVSPT $ (&/&3"- 8&:-&3 N I DPNFEPS DPDJOB DBMFG B B SFG CBMDØO FYU NVDIB DMBSJEBE QBSLJOH FVSPT

&4 7&/ 7*7&/%" $&/53& #"%"-0/" N QMBOUB CBJYB NÏT QMBOUFT J UFSSBTTB BNC WJTUFT BM NBS BTDFOTPS Q S J W B U * / 5 & 3 & 4 4 "5 4 536$"3 "-

-0$"-&4 &/ 7&/5" : "-26*-&3

1" 3 , * / ( & / 7 & / % " .0/5("5 ;POB 7JMBSFT N å 5&-

'3"/$&4$ -":3&5 PGJDJOB FO QJTP EF N DPO TFQBSBDJPOFT FVSPT $ 4"/5" ."3*" N EJTUSJCVJEP FO WBSJBT FTUBODJBT FVSPT "%" $"5"-6/:" N FYUFSJPS IBDF FTRVJOB FVSPT ;"3"(0;" N BTFP FYUFSJPS FVSPT .0/54&33"5 N OFDFTJUB SFGPSNBT 7&/5" FVSPT .0/54&33"5 N FVSPT "7%" "-'0/40 9*** N EJÈGBOP FYUFSJPS FVSPT "7% ."35* 16+0- N FO QMBOUB Z N FO TØUBOP FVSPT

" VO DMJDL EF UV OVFWP IPHBS

7"3*04 -0$"-&4 : 1"3,*/( &/ 7&/5" : "-26*-&3 i43&4 1301*&5"3*04 /&$&4*5".04 1*404 &/ "-26*-&3 $0/ 0 4*/ .6&#-&4 .«9*." 4&3*&%"% w '3"/$*4$" %626& )&3/«/%&; "#0("%"

6OB OVFWB GPSNB EF CVTDBS QJTP DBTB P MPDBM FO FM #BSDFMPOÏT

5&- '3"/$&4$ -":3&5 &3 1*4 #"%"-0/"

&$0/0.*$4 /PVT JOEE

XXX IBCJUBMJT OFU

727 %DGDORQD

.NQIWGT --03&%" 3&' 1JTP IBCJUBDJPOFT N PCSB EFM CB×PT BTDFOTPS DBMFGBDDJØO HBT OBUVSBM "NVFCMBEP DPO FMFDUSPEPNÏTUJDPT QBSLJOH PQDJPOBM å BMRVJMFS DPO PQDJPO EF DPNQSB NFT 5&- .03&3" 3&' 0' 1JTP EF IBCJUBDJPOFT N SFGPSNBEP DBMFGBDDJØO Z B B CBMDØO (BTUPT JODMVJEPT å NFT 5&- 450 $3*450 3&' $BTB N IBCJUBDJPOFT DBMFGBDDJØO SFGPSNBEP UFSSB[B N FYUFSJPS DPO FMFDUSPEPNFTUJDPT å NFT 5&- 1&1 7&/563" 3&' 1JTP EF IBC N PCSB OVFWB CB×PT QBUJP UPEP FYUFSJPS KVOUP NFUSP å NFT 5&- --&'*" 3&' 1JTP EF IBCJUBDJPOFT N SFGPSNBEP CBMDØO BTDFOTPS UPEP FYUFSJPS BNQMJP TBMØO QBSLJOH PQDJPOBM å NFT 5&- &- (03( 3&' 1 J T P I B C J U B D J P O F T N CB×PT BTDFOTPS SFGPSNBEP DBMFGBDDJØO HBT OBUVSBM "NVFCMBEP DPO FMFDUSPEPNÏTUJDPT +VOUP NFUSP å NFT 5&- . 0 / ( "5 3 & ' $BTB EF QMBOUBT IBC CB×PT UFSSB[BT UPEP FYUFSJPS BNVFCMBEP DPO FMFDUSPEPNÏTUJDPT 7JTUBT BM NBS DBMFGBDDJØO 0CSB KVOUP 3FOGF å NFT 5&- $&/530 3&' -PDBM EF N FO QMBOUB Z FO BMUJMMP CB×P ;POB DPNFSDJBM BM MBEP FTUBDJØO 3FOGF å TJO USBTQBTP 5&- 5"--&3 %h"35 4F DPNQBSUF UBMMFS FO FM DFOUSP EF #BEBMPOB 5&- 727 %DGDORQD

&$0/0.*$4 /PVT JOEE

FODVVLILFDWV

4& "-26*-" -0$"- N [POB -MPSFEB 5&-

+OOQDKNKCTKU

4& "-26*-" )"#*5"$*»/ B DIJDP B FO #VGBMÈ QPS å UPEP JODMVJEP DPO EFSFDIP B UPEP 5&- 1*4 &/ --0(6&3 $ 13*. N å NFT 5&- %Á1-&9 1-"/5" #"*9" MPDBM N Z QMBOUB BMUB FTUVEJ MPGU N $ 4BOU "HVTUÓ KVOUP FTUVEJPT 57 #BEBMPOB $PO WBEP å 5&-4 1"35*$6-"3

-0$"- &/ "-26*-&3 EF N FO $ 'FMJQF ** O DPO UPEPT MPT TFSWJDJPT å NFT 5&- 4& "-26*-"/ 1"3,*/(4 [POB DSV[ SPKB Z å NFT 5&- --0(6&3 %& %&41"5904 WËSJFT NJEFT EFT EF å NFT +VOU PCSB NFUSP 5&- 1"3,*/( " #6'"-® $ /PV $BTFT USVDBS B QBSUJS EF MFT I 5&- "-26*-0 )"#*5"$*»/ " $)*$"4 &/ 4"/5 30$ DFSDB EF "WFOJEB "MGPOT 9** å HBTUPT JODMVJEPT 5&- $0.1"350 &456%*0 QBSB QJOUBS FO #BEBMPOB 4BOU "ESJË P .POUHBU 5&- 4& "-26*-" -0$"- TJUJP FO 5JBOB N 5&- " 1" 35" . & / 50 3 0 4 & 4 "-26*-&3 N CBMDØO N BDDFTP FNCBSDBEFSP [POB USBORVJMB TPMFBEP TVFMP HSFT DPDJOB NVFCMFT SPCMF CB×P DPNQMFUP DBSQJOU "MVN BTDFOTPS å NFT 5&- 13&.*® %& ."3 "-26*-&3 N QJTDJOB DPO DÏTQFE QJTUB UFOJT CBMDPOFT DPNFEPS BNCJFOUFT IBC MBWBCPT DPNQMFUPT TFNJBNVFCMBEP DBMFGBDDJØO WJTUBT BM NBS B N NBS å NFT 5&-

FODVVLILFDWV

"7 % " " - ' 0 / 4 0 9 * * * "-26*-&3 N QBUJP N IBC MBWBCPT TPMFBEP B B Z DBMFGBDDJÃ&#x2DC;O TVFMP UFSSB[P BNVFCMBEP BTDFOTPS Ã¥ NFT 5&- # " 3 3 * 0 4 * 4 5 3 & - - 4 "-26*-&3 N BTDFOTPS IBC MBWBCPT DBMFGBDDJÃ&#x2DC;O CBMDPOFT UFSSB[B FYUFSJPS TVFMP HSFT BNVFCMBEP Ã¥ NFT 5&-

4*453&--4 -PGU SFGPSNBU UPU FO VO BNCJFOU FOUSBEB JOEFQFOEFOU *EFBM QBSFMMFT P QFS VOB QFSTPOB Ã¥ NFT UPU JODMÃ&#x203A;T 5&-

4"/5 $3*45 1JT NÂ¤ IBC NFOKBEPS HSBO FYU B UFSSBTTB EF NÂ¤ UPU SFGPSNBU Ã¥ NFT UPU JODMÃ&#x203A;T 5&- 1"35*$6-"3 "-26*-&3 1-";" %& 1"3,*/( &/ 5033&/5 %& #"5--03*" 5JFOF BTDFOTPS .FEJEBT Y 1SFDJP Ã¥ 5&- 1"53*

1&1 7&/563" 1JT EF NÂ¤

NÂ¤ IBC CBOZ DPNQMFU NFOKBEPS NÂ¤ BNC DVJOB BNFSJDBOB DBMFGBDDJÃ&#x2DC; J B D Ã¥ NFT UPU JODMÃ&#x203A;T 5&-

"1"35".&/50 1*/&%" %& ."3 "-26*-&3 N EF PSJHFO CJFO DPOTFSWBEP C B M D Ã&#x2DC; O T P M F B E P K V O U P FTUBDJÃ&#x2DC;O EF 3FOGF OFWFSB Z MBWBEPSB Ã¥ NFT 5&-

1 & 1 7 & / 5 6 3 " 0 # 3 " 4&.*/07" IBC CBOZT DVJOB PGGJDF NFOKBEPS FYU B UFSSBTTB EF NÂ¤ DBMFGBDDJÃ&#x2DC; [P O B D P N V O J U Ã&#x2039; S J B B N C QJTDJOB Ã¥ NFT QJT J QL UPU JODMÃ&#x203A;T 5&-

1&1 7&/563" 1JT EF NÂ¤ IBC DVJOB J CBOZ B D BNC CPNCB EF DBMPS NFKBEPS FYU B CBMDÃ&#x2DC; Ã¥ NFT UPU JODMÃ&#x203A;T 5&-

1&1 7&/563" 1JT EF IBC UPU SFGPSNBU HSFT BMVNJOJ TBQFMJ Ã¥ NFT UPU JODMÃ&#x203A;T 5&-

#6'"-Â® 1JT IBC CBOZ DVJOB NFOKBEPS FYU B CBMDÃ&#x2DC; B D BNC CPNCB DBMPS Ã¥ NFT UPU JODMÃ&#x203A;T 5&-

-" 1-"/" 1JT HSBO IBC CBOZT DVJOB PGGJDF BTDFOTPS FYUFSJPS DPOTFSWBU Ã¥ NFT UPU JODMÃ&#x203A;T 5&-

1"35*$6-"3 "-26*-&3 1-";" %& 1"3,*/( &/ 5033&/5 %& #"5--03*" .FEJEBT 9 N FO Â&#x2039; QMBOUB 1SFDJP Ã¥ 5&- 1"53* 1"35*$6-"3 "-26*-" 1-";" %& 1"3,*/( &/ 5033&/5 %& #"5--03*" &O QSJNFSB QMBOUB .FEJEBT Y 1SFDJP Ã¥ 5&- 1"53* " - 2 6 * - & 3 1 - " ; " % & 1"3,*/( &/ $"--& 5033&/5 %& #"5--03*" 1SFDJP Ã¥ NPUPT 5&- 1"53* "-26*-&3 $"4" 4"/5 $ & # 3 * Â® % & 7" - - " -5" $BTB WJFOUPT QMBOUBT IBCJUBDJPOFT HSBO TBMÃ&#x2DC;O TPMFBEP CBÃ&#x2014;PT DPDJOB Z CBÃ&#x2014;P SFGPSNBEPT QVFSUBT FNCFSP Z TVFMP EF UFSSB[P BMVNJOJP 1SFDJP OFHPDJBCMF 1SFDJP Ã¥ 5&- 1"53* 1"35*$6-"3 "-26*-&3 1-";" %& 1"3,*/( $"--& --&'*Â® .FEJEBT Y N JEFBM DPDIF QFRVFÃ&#x2014;P 1SFDJP Ã¥ BM NFT 5&- 1"53* 1*40 &/ "-26*-&3 ;0/" $&/530 "W 1SFTJEFOU $PNQBOZT IBC BTDFOTPS CBÃ&#x2014;P Z BTFP DBMFGBDDJÃ&#x2DC;O 1SFDJP BMRVJMFS Ã¥ 5&- 1"53* 1-";" %& 1"3,*/( &/ "-26*-&3 [POB DFOUSP "W 1SFTJEFOU $PNQBOZT 1SFDJP BMRVJMFS Ã¥ NFT 5&- 1"53* 1*40 &/ "-26*-&3 $ +0$4 '-03"-4 #"%"-0/" N IBC WFTUJEPS CBÃ&#x2014;P DPDJOB SFGPSNBEB QBSRVFU DBMFGBDDJÃ&#x2DC;O BJSF BDPOEJDJPOBEP WFOUBOBT EF BMVNJOJP "TDFOTPS 1SFDJP BMRVJMFS Ã¥ NFT 5&- 1"53*

&$0/0.*$4 /PVT JOEE

727 %DGDORQD

1*40 &/ "-26*-&3 &/ $ $&37"/5&4 IBCJUBDJPOFT DPNFEPS DPDJOB FRVJQBEB 3FGPSNBEP QFSGFDUP FTUBEP "NVFCMBEP 1SFDJP BMRVJMFS å 5&- 1"53* 4& "-26*-" -0$"- &/ #"%"-0/" $ $FSWBOUFT N TVQFSGJDJF JODMVZF VO QFRVF×P BMNBDÏO BQUP QBSB DVBMRVJFS OFHPDJP 1SFDJP BMRVJMFS å 5&- 1"53* "-26*-&3 .0/5*("-® 3&' 1JTP TFNJOVFWP IBCJUBDJPOFT CB×PT D B M F G B D D J Ø O B T D F O T P S UFSSB[B N å NFT 1BSLJOH PQDJPOBM XXX NFUSPTDVBESBEPT OFU 5&- " - 2 6 * - & 3 + 6 / 50 $ " 1 $ " 3 3 & 3 & 5" " / 5 * ( 6 " 7"-&/$*" 3&' IBC CB×P DPDJOB MBWBEFSP DPNFEPS BTDFOTPS EJTQPOF EF UPEPT MPT NVFCMFT Z FOTFSFT QBSB FOUSBS B WJWJS BM JOTUBOUF FYUFSJPS FO DPOEJDJPOFT FYDFMFOUFT 1SFDJP å NFT XXX NFUSPTDVBESBEPT OFU 5&- "-26*-&3 1*40 +6/50 4"-&4*"/04 3&' 1JTP IBCJUBDJPOFT CB×P DPDJOB DPNFEPS CBMDØO BNVFCMBEP TJO WFDJOPT 1SFDJP å NFT XXX NFUSPTDVBESBEPT OFU 5&-

"-26*-&3 1*40 1"3"%" .&530 4"/ 30$ 3&' 1JTP FYUFSJPS BNVFCMBEP IBC CB×P MBWBEFSP DPDJOB CBMDØO BTDFOTPS FRVJQBEP QBSB FOUSBS B WJWJS FO QFSGFDUBT DPOEJDJPOFT å NFT XXX NFUSPTDVBESBEPT OFU 5&- "-26*-&3 %& 1*404 $"/ $-"3*4 3&' 1JTP N FYUFSJPS IBCJUBDJPOFT SFGPSNBEP UFSSB[BT Z NFUSPT UPUBMNFOUF BNVFCMBEP B B DBMFGBDDJØO BTDFOTPS QBSB FOUSBS B WJWJS 1SFDJP å NFT XXX NFUSPTDVBESBEPT OFU 5&-

& 4 - -0 ( " -0 $ " - & / 1-"/5" "- $"33&3 $"/0/(& #"3"/&3" %& #"%"-0/" N N JEFBM QFS B EFTQBUY P OFHPDJ TJNJMBS å BM NFT 5&- & 4 - - 0 ( " - 0 $ " - $"/50/&3 " -" ;0/" %& 1&1 7&/563" N QMBOUB CBJYB TPUFSSBOJ

B M U F M M * / 5 & 3 & 4 4 "5 4 536$"3 "-

&4 --0(" $"4" #"%"-0/" $&/53& $BSSFS 4BOUB .BSJB IBC CBOZT DVJOB J NFOKBEPS &VSPT NFT 5&-

-0$"- &/ --0(6&3 "- 10-¶(0/ */%6453*"- -&4 (6*9&3&4 TPSUJEB BVUPQJTUB #BEBMPOB /PSE N /PV 4VNJOJTUSFT EPOBUT EhBMUB 7JTUFT FTQFDUBDVMBST &VSPT NFT 5&-

&$0/0.*$4 /PVT JOEE

& 4 - -0 ( " -0 $ " - " - $"33&3 4"/5 .*26&- %& #"%"-0/" N JEFBM QFS B RVBMTFWPM UJQVT EF OFHPDJ å BM NFT 5&-

& / " - 2 6 * - & 3 ; 0 / " .0/5("5 «UJDP BNVFCMBEP N UFSSB[B N DVBSUP USBTUFSP DBMFG SFGPSNBEP (SBO PQPSUVOJEBE å NFT 5&-

# " % " - 0 / " $ & / 5 3 & 1&"50/"- -MPHVFN QJT EÞQMFY N CPO FTUBU 5SFT IBCJUBDJPOT EPCMFT EPT CBOZT BSNBSJT FNQPUSBUT DBMFGBDDJØ å 5&-

&4 --0(" 1*4 "- $"33&3 13*. %& #"%"-0/" N NFOKBEPS DVJOB HBMFSJB CBOZT IBCJUBDJPOT CBMDØ FYUFSJPS BTDFOTPS å BM NFT 5&-

"-26*-0 1-"/5" #"+" %F PCSB OVFWB B FTUSFOBS FO DBTP BOUJHVP EF 4U #PJ IBCJUBDJPOFT QBUJP EF N CB×P Z DPDJOB FRVJQBEPT å NFT Z å EF GJBO[B 5&-

& 4 - -0 ( " 1 * 4 / 0 6 #"%"-0/" $&/53& IBC CBOZT DVJOB NFOKBEPS J UFSSBTTB 5PU OPV $MJNBUJU[BU &VSPT NFT 5&-

&4 --0(" 1*4 #"%"-0/" 1&1 7&/563" IBC CBOZ DVJOB J NFOKBEPS QFS FOUSBS B WJVSF &VSPT NFT 5&-

"-26*-&3 13*.&3 1*40 $0.&3$*"- &/ 1 %& -" 4"-6% -PDBM N DPO EFTQBDIPT CB×P CJFO DPOTFSWBEP BQUP DVBMRVJFS OFHPDJP 1SFDJP å NFT XXX NFUSPTDVBESBEPT OFU 5&-

" - 2 6 * - & 3 -0 ' 5 0 # 3 " /6&7" 3&' 1FQ 7FOUVSB D ;BSBHP[B B FTUSFOBS B B $BMFGBDDJØO 1BUJP N 1SFDJP å NFT XXX NFUSPTDVBESBEPT OFU 5&-

727 %DGDORQD

FODVVLILFDWV

1*40 &/ "-26*-&3 &/ $ (6*'3² PQDJPOBM PGJDJOBT Z UBNCJÏO WJWJFOEB N IBC CB×P DPDJOB UFSSB[B EF N 7FOUBOBT BMVNJOJP #VFO FTUBEP EF DPOTFSWBDJØO $POTVMUBS QSFDJP 5&- 1"53*

"-26*-0 1*40 $&/530 #"%"-0/" " NJOVUPT EF QMBZB Z USFO BNVFCMBEP FRVJQBEP å NFT 5&- 4& "-26*-" )"#*5"$*»/ & / # " % " - 0 / " # J F O BNVFCMBEB 1SFDJP å JODMVJEPT HBTUPT 5&- &4 --0(" 6/" 1-"±" %& 1"3,*/( %& .050 BM DFOUSF EF #BEBMPOB 5SVDB BM

FODVVLILFDWV

4&ยบ03" 3&410/4"#-& %& "ยบ04 #64$" 53"#"+0 EF JOUFSOB QPS IPSBT P GJOFT EF TFNBOB DPNQMFUPT QBSB DVJEBEP QFSTPOBT NBZPSFT 5&-

6TGDCNN

+OOQDKNKCTKU 6TCURCUUQU

4&ยบ03" #64$" 53"#"+0 QBSB DVJEBEP EF QFSTPOBT NBZPSFT MJNQJF[B DBOHVSP % J T Q P O J C J M J E B E U P E B M B TFNBOB NBร BOBT UBSEFT $PO SFGFSFODJBT 5&-

#0%&(" &/ 53"41"40 63(&/5& &/ #"%"-0/" 1P S D B N C J P E P N J D J M J P 7F O U B W J O P T B H S B O F M FNCPUFMMBEP Z QSPEVDUPT #6&/ 13&$*0 5&- 4&ยบ03" #64$" 53"#"+0 Q B S B D V J E B S Q F S T P O B T 4& 53"41"4" #"3 5&- NBZPSFT MJNQJF[B DBOHVSP )PSBSJP NBร BOBT UBSEFT OPDIFT GJOFT EF TFNBOB P JOUFSOB $PO SFGFSFODJBT 5&-

$)*$" #64$" 53"#"+0 EF DBOHVSP QPS MBT UBSEFT -JNQJF[B %JTQPOJCJMJEBE EF MVOFT B EPNJOHP 5&- 4&ยบ03" 4& 0'3&$& DPNP GJKB 5&- 4 & 0 ' 3 & $ & 4 & ยบ 0 3 " CPMJWJBOB QBSB MJNQJF[B DBOHVSP DVJEBEP EF QFSTPOBT NBZPSFT *OUFSJOB QPS IPSBT $PO QBQFMFT FO SFHMB 5&-

&4 #64$" -0(01&%" 0 14*$ยพ-0(" 1&3 $0.1"35*3 %&41"59 BNC QTJDร MPHVFT EhPSJFOUBDJP EJOร NJDB TJUVBU B #BEBMPOB DFOUSF 1SFHVOUBS QFS "OOB .ย 5&-

4&ยบ03*5" #64$" 53"#"+0 DVJEBOEP QFSTPOBT NBZPSFT DBOHVSP MJNQJF[B JOUFSJOB GJKB NFEJB KPSOBEB 5&-

4 & ยบ 0 3 " & 4 1 " ยบ 0 - " 3&410/4"#-& : 53"#"+"%03" 4& 0'3&$& QBSB UBSFBT EFM IPHBS QPS IPSBT QSFHVOUBS QPS -JEJB BM 5&-

4&ยบ03*5" #64$" 53"#"+0 Q B S B D V J E B S Q F S T P O B T NBZPSFT DBOHVSP MJNQJF[B GJKB P JOUFSJOB %JTQPOJCJMJEBE *ONFEJBUB 5&-

$)*$" #64$" 53"#"+0 EF MJNQJF[B EF DBTBT PGJDJOBT FTDBMFSBT QPS IPSBT 5&-

$)*$" 4& 0'3&$& 1"3" 53"#"+"3 QPS IPSBT P NFEJB KPSOBEB DPO SFGFSFODJBT Z FYQFSJFODJB 5&-

&41"ยบ0-" $0/ $0$)& 4& 0'3&$& DPNP FNQMFBEB EF IPHBS EPT EJBT B MB TFNBOB 5&-

4&ยบ03" #64$" 53"#"+0 QPS MBT NBร BOBT QPS IPSBT EF MVOFT B WJFSOFT Z GJOFT EF TFNBOB QBSB MJNQJF[B 5&-

4&ยบ03" 4& 0'3&$& QBSB DVJEBS OJร PT QFS TPOBT NBZPSFT P MJNQJF[B 5&-

4&ยบ03" #64$" 53"#"+0 MJNQJF[B P QMBODIB QPS MBT NBร BOBT QPS IPSBT P GJOFT EF TFNBOB 5&-

4&ยบ03 4& 0'3&$& DPNP QJOUPS KBSEJOFSP DBNBSFSP MJNQJF[B FO HFOFSBM $PO FYQFSJFODJB 5&-

4& 0'3&$& ":6%"/5& %& $0$*/" DBNBSFSB Z QBSB USBCBKBS FO IPUFMFT MJNQJBOEP IBCJUBDJPOFT BZVEBOUF EF MJNQJF[B DPO FYQFSJFODJB 5&-

4&ยบ03" 3&410/4"#-& : $0/ &91&3*&/$*" 4& 0 ' 3 & $ & Q B S B D V J E B S B QFSTPOBT NBZPSFT 5&-

&QOKPIQ VHULH

5ร DCFQ 8KGTPGU VHULH

,WGXGU /Kร TEQNGU /CTVGU .WPGU

.FT 'FCSFSP h

/ร .&304 13&.*"%04

&$0/0.*$4 /PVT JOEE

727 %DGDORQD

4&ยบ03" 3&410/4"#-& $0/ #6&/"4 3&'&3&/$*"4 CVTDB USBCBKP EF MVOFT B WJFSOFT B QBSUJS EF MBT IPSBT FO BEFMBOUF Z MPT Tร CBEPT UPEP FM Eร B 5&- 4& 0'3&$& 4&ยบ03" 1"3" 5 3 " # " +" 3 B K P S O B E B DPNQMFUB P GJKB 4FSWJDJP EPNร TUJDP DVJEBS QFSTPOBT NBZPSFT 5&- $0$*/&3" %& "ยบ04 TF PGSFDF QBSB NFOร T UBQBT FUD 5&- "/"

4 & ยบ 0 3 " $ 0 / . 6 $ ) " &91&3*&/$*" Z CVFOBT SFGFSFODJBT TF PGSFDF QBSB DVJEBS QFSTPOBT NBZPSFT DBOHVSP MJNQJF[B QPS IPSBT Z GJOFT EF TFNBOB 5&- 4& 0'3&$& 4&ยบ03" 1"3" 53"#"+"3 QPS IPSBT KPSOBEB DPNQMFUB 5&- 4 & / & $ & 4 * 5 " / 08&3-026*45"4 QBSB UBMMFS EF DPOGFDDJร O FO -MFGJร *OUFSFTBEBT MMBNBS EF B IPSBT BM 5&- $)*$" 4& 0'3&$& QBSB DVJEBS B QFSTPOBT NBZPSFT Eร B P OPDIF DBOHVSP $PO UJUVMBDJร O BVYJMJBS HFSJBUSร B Z EJFUร UJDB $PO CVFOBT SFGFSFODJBT 5&-

6 3 ( & / ( 6 " 3 % " 4 '03&45"-&4 : #0.#&304 1"3" #"3$&-0/" TVFMEP B Q S P Y รฅ 4 ร M P O B D J P O B M J E B E & T Q B ร P M B *OGร SNBUF 5&-

FODVVLILFDWV

$ ) * $ " 3 & 4 1 0 / 4 " # - & #64$" 53"#"+0 EF MJNQJF[B QPS IPSBT DBOHVSP 5&-

4&ยบ03" 3&410/4"#-& 4& 0'3&$& QBSB DVJEBS B QFSTPOBT NBZPSFT DPNP GJKB 5&- 3 & $ & 1 $ * 0 / * 4 5 " 4 : " 6 9 * - * " 3 & 4 " % . * / * 4 5 3 " 5 * 7 0 4 QSFDJTBO BZVOUBNJFOUPT Z VOJWFSTJEBEFT 1SFQร SBUF QBSB BDDFEFS 5&- 4& 0'3&$& 4&ยบ03" $0.0 $"/(630 DVJEBS QFSTPOBT NBZPSFT NFEJB KPSOBEB P QPS IPSBT FO MJNQJF[B KPSOBEB DPNQMFUB 5&- $)*$" #64$" 53"#"+0 QBSB MJNQJF[B 5&- "&3016&3504 /6&7" 5&3.*/"- QSFDJTB QFSTPOBM DPO JOHMร T QBSB TVQFSWJTPSFT EF WVFMP BHFOUFT EF QBTBKFSPT Z B[BGBUBT EF UJFSSB 4VFMEP IBTUB รฅ 1SFQร SBUF QBSB BDDFEFS 5&- "( 505" &%"5 /&$&44*5" '*9&4 */5&3*/&4 QFS IPSFT QFSTPOFT EF DPNQBOZJB QFS OFOT J BWJT 5&-

$ ) * $ " 3 & 4 1 0 / 4 " # - & 53"#"+"%03" EF &DVBEPS EF Bร PT TF PGSFDF DPNP EFQFOEJFOUB 5&- 4& 0'3&$& 4&ยบ03" +07&/ QBSB MJNQJF[B DBOHVSP DVJEBEP EF QFSTPOBT NBZPSFT QPS IPSBT KPSOBEB JOUFSJOB P CJFO OPDIFT $PO SFGFSFODJBT Z FYQFSJFODJB 5&- { 5 * & / & 4 $ " 3 / & 5 % & $0/%6$*3 6SHFO QSPGFTPSFT EF BVUPFTDVFMB QBSB QSร DUJDBT $PNQBUJCMF DPO PUSB BDUJWJEBE (BOB IBTUB รฅ NFT 1SFQร SBUF QBSB JODPSQPSBSUF 5&- 727 %DGDORQD

&$0/0.*$4 /PVT JOEE

FODVVLILFDWV

'"-5" %&1&/%&/5" 1&3 '03/ %& 1" OP FT OFDFTBSJB FYQFSJFODJB GPSNBDJร B Dร SSFD EF M FNQSFTB 1PSUBS DVSSJDVMVN B $ $0/26*45"

4& /&$&4*5" 1&340/" DPO FTUVEJPT EF DJFODJBT FNQSFTBSJBMFT P HSBEVBEP TPDJBM QBSB BZVEBS B UFSNJOBS MJCSPT EF DPOUBCJMJEBE EFM 5&-

"( 505" &%"5 /&$&44*5" */'&3.&3&4 QVFSJDVMUPSFT GJTJPUFSBQFVUBT BVY EF DMร OJDB B EPNJDJMJ J IPTQJUBM I FUD 5&-

4 & 0 ' 3 & $ & 4 & ยบ 0 3 " &$6"503*"/" QBSB DVJEBS B QFSTPOBT NBZPSFT P MJNQJF[B FO HFOFSBM DPO FYQFSJFODJB Z SFGFFODJBT DPO QBQBFMFT FO SFHMB 5&-

4 & 37 * $ * 0 5 ยฒ $ / * $ 0 & / # " % " - 0 / " 1 3 & $ * 4 " 5 ยฒ $ / * $ 0 E F ) B S E XB S F QBSB UBMMFS JOGPSNร UJDP 4F PGSFDF DPOUSBUP IPSBT TFNBOBMFT BMUB FO 4 4 JODPSQPSBDJร O JONFEJBUB &OWJBS $7 B JOGP!MFLLFSOFU FT

4& /&$&4*5"/ 4&ยบ03" & 4 1" ยบ 0 - " 4 $ 0 / &91&3*&/$*" QBSB UBMMFS EF QMBODIB 5&- 1SFHVOUBS QPS "OUPOJB $)*$0 #64$" 53"#"+0 QBSB DVJEBEP EF QFSTPOBT NBZPSFT P DVBMRVJFS PUSP UJQP EF USBCBKP DPO SFGFSFODJBT 5&-

4& /&$&4*5" ":6%"/5" %& 1&-626&3ยถ" : 0'*$*"-" $ 0 / & 9 1 & 3 * & / $ * " JOUFSFTBEBT FOWJBS DVSSJDVMVN P EFKBS EBUPT QFSTPOBMFT FO YUVQFMP!IPUNBJM DPN

8CTKU

4& /&$&4*5" &45&5*$*&/ 1"3" #"%"-0/" DPO PQDJร O EF BMRVJMFS EF DBCJOB P USBCBKBS B VO DPNJTJร O QBSB FMMB *OUFSFTBEBT FOWJBS EBUPT B YUVQFMP!IPUNBJM DPN

.&/4"+&304 '63(0/&5" 1"3" 3&1"3504 Z QFRVFร B QBRVFUFSร B FO #BSDFMPOB Z DJOUVSร O 1SFTFOUBSTF MVOFT Z NBSUFT UBSEFT EF B FO $ 10/*&/5& #+4 #"%"-0/"

4&ยบ03" #64$" 53"#"+0 EF NFEJB KPSOBEB P KPSOBEB DPNQMFUB QPS IPSBT GJOFT EF TFNBOB DBOHVSP MJNQJF[B Z UFSDFSB FEBE $PO CVFOBT SFGFSFODJBT 1BQFMFT FO SFHMB 5&- #6426&. (3"%6"5 40$*"- 0 %*1-0."5 3&-"$*0/4 -"#03"-4 QFS B DPNQBSUJS EFTQBUY EF DPNQUBCMFT 0GFSJN QFUJUB DBSUFSB EF DMJFOUT "M DPTUBU FTUBDJร USFO #BEBMPOB 5&-

/165 '0%4'7#65

57&1-75

&$0/0.*$4 /PVT JOEE

&41*3*56 4"/50 Uร RVF NF BDMBSBT UPEP RVF JMVNJOBT MPT DBNJOPT QBSB RVF ZP BMDBODF NJ JEFBM 5V RVF NF EBT FM EPO EJWJOP EF QFSEPOBS Z PMWJEBS FM NBM RVF TF IBDF DPOUSB NJ Z FO UPEPT MPT JOTUBOUFT EF NJ WJEB FTUร T DPONJHP ZP RVJFSP FO FTUF DPSUP EJร MPHP BHSBEFDFSUF QPS UPEP Z DPOGJSNBS VOB WF[ Nร T RVF OP RVJFSP TFQBSBSNF EF UJ QPS NBZPS RVF TFB MB JMVTJร O NBUFSJBM %FTFP FTUBS DPOUJHP Z UPEPT NJT TFSFT RVFSJEPT FO MB HMPSJB FUFSOB (SBDJBT QPS UV NJTFSJDPSEJB QBSB DPONJHP Z MPT NJPT "(3"%&$& -" (3"$*" "-$"/;"%" $ # &

FKHร EKN

51.7%+105 2#55#6'/25

4& "-26*-" )"#*5"$*ยป/ " $"#"--&30 [POB #VGBMร UPEPT MPT TFSWJDJPT TBMร O EVDIB DPDJOB 5&-

1 & 3 3 6 2 6 & 3 * " # 6 4 $ " 0'*$*"- %& " BNC CPOB QSFTร ODJB JOUFSFTTBUT BEFT FOWJBS DVSSJDVMVN WJUBF $ "WJHVEB 3PNB OVN -B .PSFSB #BEBMPOB 5&-

Hร EKN

. & / 4 " + & 3 0 4 . 0 5 0 F M F W B E P T J O H S F T P T 1SFTFOUBSTF MVOFT Z NBSUFT UBSEFT EF B FO $ 10/*&/5& #+4 #"%"-0/"

4& "-26*-" )"#*5"$*ยป/ $)*$" 5&-

727 %DGDORQD

4& 7&/%& &4$3*503*0 EF NØEVMPT Z NFTB MBSHP MBSHPY BODIP NØEVMPT BMUP Y BODIP Z NØEVMP BMUP Y BODIP 5&- 7&/$ $059&5 %& 30%&4 FO NPMU CPO FTUBU SFHBMP CPNCPMMFUB EF QMËTUJD 1SFV å 5&- "-26*-0 )"#*5"$*»/ " $)*$0 3&410/4"#-& ;POB 1FQ 7FOUVSB 5&- $)"3-&:4 0 $ " 4 * » / 7 & / % 0 $&/53"-*5" %*(*5"- /&3*4 OVFWB TPMP NFTFT EF VTP å 5&- 4& "-26*-" )"#*5"$*»/ (3"/%& DPO EFSFDIP B UPEP FM QJTP UPEPT MPT HBTUPT JODMVJEPT 1SFDJP å NFT 5&- /"5"-*"

$-"4&4 1"35* $ 6-" 3 &4 NBUFNÈUDJBT GÓTJDB QBSB FTUVEJBOUFT CBDIJMMFSBUP VOJWFSTJEBE Z $"% $". $/$ QBSB KPZFSPT Z NPEFMJTUBT 5&- 4"-7"%03

FODVVLILFDWV

7 & / % 0 $ " + " 3&(*453"%03" i&-$0 %"5" 49 ',w TFNJOVFWB TØMP TF IB VTBEP VOPT NFTFT 1PS DJFSSF EF OFHPDJP å 5&- 43" "/50/*"

130'&4403 %»/" $-"44&4 EF NBUFNËUJRVFT GÓTJDB RVÓNJDB 5&-

/QVQT ("/(" '03% '*&45" Z QBSLJOH QPS TØMP å $ $JSDVOWBMBDJØO -MFGJÈ BMUP 5&-4

',5(&725, (PSUHVHV

4 & 7 & / % & 3 & . 0 - 2 6 & $&33"%0 EF Y Y N DPO FKF EF ,H DPO GSFOP Z SBNQB å */'0

"/6/$*"h5 &/ "26&45 %*3&$503* 1&3 /0.²4 å

4& 7&/%& .050 */'"/5*- EF B B×PT EF U Z DD TFNJBVUPNBUJDB FO QFSGFDUP FTUBEP å */'0

'"#3*$"/5&4 %& ."26*/"3*" 1SPNPDJPOBNPT TVT QSPEVDUPT 4PQPSUF DPNFSDJBM FYUFSOP D F JOGP!BSHVUT OFU

4& 7&/%& #.8 . GVMM FRVJQFE FO QFSGFDUP FTUBEP å */'0

5&-

4& "-26*-" )"#*5"$*»/ FO QJTP DPNQBSUJEP CVFO BNCJFOUF FO FM CBSSJP EF #VGBMB å HBTUPT JODMVJEPT 1SFHVOUBS QPS .BSJ 5&- 4"-7"%03 : 3&.&%*04 QBSB DPNQBSUJS VOB IBCJUBDJØO 5&-

%NCUUGU

&M 505 #"%"-0/" OFDFTTJUB $0.&3$*"-4 BVUÛOPNT B 5&.14 1"3$*"-

" / ( - µ 4 $ - " 4 4 & 4 1"35*$6-"34 JOEJWJEVBMT QFUJUT HSVQT IPSBSJ GMFYJCMF DPOWFSTB CVTJOFTT .ÒUPEFT QFSTPOBMJU[BUT 5&- 130'&403" 5*56-"%" %" $-"4&4 1"35*$6-"3&4 Z HSVQP QSJNBSJB TFDVOEBSJB CBDIJMMFSBUP NØEVMPT GSBODÏT TFMFDUJWJEBE GPSNBDJØO IBCJUØT EF FTUVEJP 5&- --*$&/$*"5 %»/" $-"44&4 E FTP CBUYJMMFSBU 4FMFDUJWJUBU N Û E V M T F U D N B U F T GÓTJDB RVÓNJDB 3BNPO $ *OEÞTUSJB 5&- 727 %DGDORQD

&$0/0.*$4 /PVT JOEE

$0.&3$*"-4 " 5&.14 1"3$*"-

4J KB USFCBMMFT J WPMT HVBOZBS VO TPCSFTPV CVTRVFN QFS TPOFT DPN UÞ RVF WVMHVJO USFCBMMBS B IPSFT MMJVSFT EF DP NFSDJBMT EF QVCMJDJUBU QFS B MB SFWJTUB &M 505 #BEBMPOB 3&26&3*. t #POB QSFTÒODJB t (BOFT EF USFCBMMBS 0'&3*. t $PNJTTJØ EF MB WFOEB EF QVCMJDJUBU t -MJTUBUT EF DMJFOUT J DBSUFSB 1FS B NÏT JOGPSNBDJØ 5FM P P FOWJBS DVSSÓDVMVN BNC GPUP B YFTDB!FMUPUEJHJUBM DPN

WHFQRORJLD

VGEPQNQIKC

QRYHWDWV JDGJHWV WHOHIRQLD VRIWZDUH LQWHUQHW

.PCJMF 8PSME $POHSFTT

#BSDFMPOB IB BDPMMJU EF OPV FM .PCJMF 8PSME $POHSFTT MB GJSB NÏT JNQPSUBOU EFM NØO EF MB UFMFGPOJB NÛCJM "RVFTU QBTTBU EJMMVOT 'JSB EF #BSDF MPOB WB PCSJS MFT TFWFT QPSUFT B QSPGFTTJPOBMT RVF IBO QPHVU WFVSF MFT OPWFUBUT EF FYQPTJUPST &M TFDUPS EF MFT UFMFDPNVOJDBDJPOT RVF UBNCÏ IB BOVODJBU BDP NJBEBNFOUT FO FMT EBSSFST NFTPT OP IB WPMHVU RVF MB DSJTJ FOGPTRVFJYJ MFT QPTTJCJMJ UBUT EF OFHPDJ EF M FEJDJØ EFMT NÛCJMT EF RVBSUB HFOFSBDJØ 6O EFMT QSJODJQBMT BCTFOUT EF MB m SBB FTUBU "QQMF RVF EF OPV OP IB WJOHVU B NPTUSBS MB TFWB HBNNB E J1IPOFT 5PU J

BJYÓ MFT QSJODJQBMT NBSRVFT EFM TFDUPS IBO QSFTFOUBU MFT TFWFT OPWFUBUT FO VOB GJSB PO FT WB QBSMBS EF TJTUFNFT PQFSBUJVT QFS B NÛCJMT MFT BQMJDBDJPOT NVMUJNÒEJB MB DPOOFDUJWJUBU J FMT DPOUJOHVUT QFS B UFMFWJTJØ NÛCJM 6OB EF MFT WJTJUFT NÏT FT QFSBEFT MB EFM $&0 EF .J DSPTPGU 4UFWF #BMMNFS RVF WB QSFTFOUBSBS VOB OPWB WFSTJØ EFM TFV 8JOEPXT .PCJMF J RVF BQSPm UBOU MB TFWB WJTJUB B #BSDFMPOB WB TJHOBS VO BDPSE BNC MB (FOFSBMJUBU FO NBUÒSJB FEVDBUJWB &MT GBCSJDBOUT EF UFMÒGPOT WBO QSFTFOUBS BM NØO J B MFT NÏT EF PQFSBEPSFT EF

8FCT B NJEB

*OUFSOFU J 1ËHJOFT %POJT B DPOÒJYFS UBNCÏ B

8F C *OUFSOFU

QBÕTPT RVF QSFTFOUT B MB m SB FMT TFVT OPVT UFSNJOBMT DBEB WFHBEB NÏT TFNCMBOU B QFUJUT PSEJOBEPST &MT BOP NFOBUT TNBSUQIPOFT TPO FMT QSPUBHPOJTUFT EF MFT EJGFSFOUT QSFTFOUBDJPOT 6OT UFSNJOBMT PO USVDBS QFS UFMÒGPO DBEB WF HBEB ÏT NÏT TFDVOEBSJ J MFT TFWFT BQMJDBDJPOT J TFSWFJT NVMUJNÒEJB QSFOFO QSPUBHP OJTNF 5FMÒGPOT QSFPDVQBUT QFS MB TPTUFOJCJMJUBU RVF EJT QPTFO EF DËSSFHB TPMBS DPN FM EF M FNQSFTB 4BNTVOH FNQSFTFT EF QPSUËUJMT DPN %FMM 5PTIJCB P "DFS RVF UBN CÏ WBO QSFTFOUBS MFT TFWFT QSPQPTUFT FO FM NØO EFMT UFMÒGPOT &MT RVF KB FT WBO

(FTUJØ EF $PSSFVT EPNJOJT FMFDUSÛOJDT

%FNBOJhOT VOB EFNPTUSBDJØ HSBUVÕUB TFOTF DBQ DPNQSPNÓT

XXX DMJDEJTTFOZ DPN JOGP!DMJDEJTTFOZ DPN

5FM

QBH JOEE

727 %DGDORQD

&MT TJTUFNFT PQFSBUJVT QSPUBHPOJTUFT &MT TJTUFNFT PQFSBUJVT RVF DPOWFSUFJYFO BRVFTU UFMÒGPOT FO QFUJUT PSEJOBEPST QSPUBHP OJU[FO VOB EF MFT QSJODJQBMT MMVJUFT .JDSPTPGU BNC FM TFV 8JOEPXT .PCJMF /PLJB BNC FM TFV 4ZNCJBO (PPHMF BNC FM TFV QSJNFS NPEFM EFM TJTUFNB "OESPJE BMT NÛCJMT )5$ P 1BMN RVF FT UPSOB B

QSFTFOUBS BNC TJTUFNB PQF SBUJV QSPQJ WBO NPTUSBS MFT TFWFT RVBMJUBUT .ÛCJMT QSF QBSBUT QFS MB RVBSUB HFOFSB DJØ RVF TVCTUJUVFJY M 6.54 -5& TØO MFT OPWFT TJHMFT RVF BOVODJFO WFMPDJUBUT EF m OT B NFHBCJUT TFHPO -FT TPS QSFTFT MFT WBO QSPUBHPOJU[BS BQMJDBDJPOT BNC UFDOPMPHJFT CMVFUPPUI NBSLFUJOH BNC FM TJTUFNB EF DPEJT EF CBSSFT EFMT 5BHT BQMJDBDJPOT EF M BOPNFOBU .PCJMF FM DP GVOEBEPS EF .Z4QBDF UBNCÏ WB FTUBS QSFTFOU BM .8$ &O USF MFT PQFSBEPSFT QSFTFOUT WBO QBS UJDJQBS 5FMFGØOJDB J 7PEBGPOF RVF FT CBSBMMFO QFS QSFTFOUBS EJGFSFOUT NP EFMT EF UFMÒGPO BNC TJTUFNFT PQFSBUJVT "OESPJE 5FMFGÛOJDB WB QSFTFOUBS FM TFV )5$ J 7P

EBGPOF WB BOVODJBS MB QSPQFSB HFOFSBDJØ BNC "OESPJE :PJHP WB QSFTFOUBS VO DPNQUF EF SFTVMUBUT FYDFMtMFOU RVF MB DPMtMPDB DPN VOB GPSUB DPN QFUJEPSB B MFT PQFSBEPSFT NBKPSJUËSJFT BM OPTUSF QBÓT

WHFQRORJLD

BWBOÎBS B QSFTFOUBS MFT TF WFT OPWFUBUT IBO FTUBU 4POZ &SJDTTPO *EPV ÏT MB TFWB HSBO BQPTUB VO UFSNJOBM BNC VOB DËNFSB EF NFHB QÓYFMT J VOB QBOUBMMB UËDUJM QBOPSËNJDB EF QPM[BEFT QFS QPEFS HBVEJS EF TFSJFT P EF QSPEVDDJPOT EF UFMFWJTJØ QFS B NÛCJM

8FC 3FDPNFOBEB

< > DPOWFSUQEGUPXPSE OFU 4J OFDFTTJUFT DPOWFSUJS VO BSYJV FO GPSNBU QEG B VO BSYJV FO GPSNBU XPSE BRVFTUB ÏT FM UFV XFC

',5(&725, LQIRUPÁWLFD */'03.®5*$"

7e&1,&2 ,1)250É7,&2 /$6 +25$6 6 , $ '

5HSDUDFLRQHV SXQWXDOHV \ WRWDOHV D GRPLFLOLR 7DPELpQ SURJUDPDGRU :HE HOHFWUyQLFR DQDOLVWD 'HVSOD]DPLHQWRV \ SUHVXSXHVWRV JUDWLV SDUD VLHPSUH 5DIDHO 0DUWtQH]

7HO

"$"%µ.*&4 $VSTPT EF JOGPSNËUJDB $POUBCJMJEBE GBDUVSBDJØO Z OØNJOBT QPS PSEFOBEPS $VSTPT FTQFDJBMFT QBSB FNQSFTBT 0GJNÈUJDB 1SPHSBNBDJØO Z .VMUJNFEJB

")033& IBTUB VO

EF UJOUBT Z UPOFS

/55 EJTQPOF EF FYDMVTJWB UFDOPMPHÓB Z EF MBT NÈRVJOBT NÈT BWBO[BEBT BWBMBEBT QPS VOB QBUFOUF EF &&66 FNQMFBOEP QBSB FMMP NBUFSJBMFT Z QSPEVDUPT TFMFDDJPOBEPT QBSB VOB FYDFMFOUF DBMJEBE EF USBCBKP -FT PGSFDFNPT ")0330 $"-,%"% &$0-0(Ë" 4&37,$,0 : #6&/04 13&$,04 )1 NPE å )1 NPE å $"356$)04 &140/ EFTEF å #305)&3 EFTEF å $"/0/ EFTEF å

" %0.*$*-*0 103 40-0 å 5ÏDOJDP EF 3FQBSBDJØO B EPNJDJMJP TØMP TF DPCSB å QPS BWFSÓB EVSF MP RVF EVSF MB SFQBSBDJØO

--«.&/04 ,167,787 &$7$/ '( &20(5d

3FMMFOBNPT UBNCJÏO 4".46/( -&9."3, %&-- 0-,7&55, 1),-,14 3,$0) 3FMMFOBNPT DBSUVDIPT EF UPOFS EF UPEBT MBT NBSDBT

0,,

" å " å " å " å " å 2 å

å å

&XUVRV LQJOpV WRGRV ORV QLYHOHV *UXSRV HVSHFLDOHV SDUD QLxRV D SDUWLU GH DxRV /DV DXODV FXHQWDQ FRQ 79 FRQHFWDGR YtD VDWpOLWH SDUD KDFHU PiV GLYHUWLGRV \ HIHFWLYRV ORV HMHUFLFLRV GH DGLHVWUDPLHQWR GHO RtGR D OD GLFFLyQ GHO LGLRPD

#305)&3

5/ å 5/ å 5/ å 5/ å

7HO

/VFWBT 5ÏDOJDBT EFM 5POFS /55 $ #BMEPNFSP 4PMË O

"/6/$*"h5

5FM '"9

&/ "26&45 %*3&$503* 1&3 /0.²4 å

3FMMFOBNPT DBSUVDIPT BM NPNFOUP 727 %DGDORQD

QBH JOEE

727 %DGDORQD

1MBOUJMMB#BTF JOEE