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NVOJDJQBM DFMFCSB M ÞMUJN QSP HSBNB BNC MB WJTJUB EF M BMDBMEF EF MB DJVUBU +PSEJ 4FSSB RVJ GB SË CBMBOÎ EF MB GFJOB GFUB EFT EFM HPWFSO NVOJDJQBM DPJODJEJOU BNC M FRVBEPS EFM NBOEBU


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%JTTBCUF WB TFS VO EJB NPMU FNPDJPOBOU 4J NPMU FNPDJPOBOU NPMUB HFOU FO WB WFOJS B EJS RVF HSËDJFT B NJ T IBWJB TBMWBU FM 1POU EFM 1FUSPMJ .PMUT DJVUBEBOT T IBO QSFT BRVFTUB DPOTFSWBDJØ DPN B QSÛQJB &TUJD DPOUFOU UBNCÏ EF DPN IBO EFJYBU FM 1POU BNC CBSBOFT E BDFS JOPYJEBCMF FM UFSSB EF GVTUB MFT MMVNT BSB KB OP FT FM 1POU RVF KP WBJH FTUBS QJOUBOU EF DPMPS CMBV QFSRVÒ BCBOT QPEJB TFNCMBS OPNÏT GFSSBMMB $PN WB DPNFOÎBS BRVFTUB MMVJUB QFS TBMWBS J DPOTFSWBS BRVFTUB FTUSVDUVSB +P EF QFUJU TFNQSF BOBWB B MB [POB EFM 1POU EFM 1FUSPMJ -MB WPST FTUBWB NPMU DPOUBNJOBEB QFOTFV RVF RVBO USFQJUKBWFT MB TPSSB EF MB QMBUKB RVFEBWFT UPU CSVU E BMRVJUSB FSB VO EFTBTUSF $PN IJ IBWJB VOB WJHJMËODJB DPOTUBOU J OP IJ EFJYBWFO QFT

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i%F TFHVJEB WBJH QFOTBS RVF FM 1POU EFM 1FUSPMJ IBWJB EF TFS QFS B MB DJVUBUw

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NBJ FO UJSBS MB UPWBMMPMB +P RVBO QPTP MB CBOZB NBJ MB USFD J BNC BRVFTUB MMVJUB IP UF OJB NPMU DMBS +P RVBO DPNFOÎP VOB DPTB TFNQSF M BDBCP 1FO TB RVF BNC FM UFNB EFM QFBU HF EFM QPSU WBJH SFDPMMJS NÏT EF TJHOBUVSFT QFSRVÒ T FMJNJOÏT J BSB m OBMNFOU T IB QPHVU USFVSF

7PTUÒ FT VOB QFSTPOB NPMU DPNQSPNFTB BNC #BEBMPOB UBOU RVF m OT J UPU WB DSFBS VO QBSUJU QPMÓUJD 4J FM -MFJ %VSBOU MFT EBSSFSFT FMFDDJPOT NVOJDJQBMT NÏT EF CBEBMPOJOT FO WBO WPUBS QFSRVÒ TBCFO RVF TFNQSF IF GFU DPTFT QFS MB DJVUBU 7BJH GFS VOB FTDBMB BM DBSSFS 4BOU "OBT UBTJ RVF FO WB DPTUBS TFU BOZT HSËDJFT B FTDSJUT RVF WBJH QSFTFOUBS B M "KVOUBNFOU J UBNCÏ WBJH QPTBS DJNFOU QFS PCSJS FM DB SSFS EF 4BOU 7JDFOÎ QFSRVÒ FMT DPUYFT IJ QPHVFTTJO QBTTBS

* BSB RVJOB DPTB DBOWJBSJB EF M BDUVBM #BEBMPOB %PODT MB SBNQB EFM DBSSFS 4BOU 7JDFOÎ BM CBSSJ EF MB .PSFSB -B QBSU RVF UPDB BNC .PMJ EF MB 5P SSF FTUB QMFOB EF TPUT J FMT WFÕOT FT GBO NBMCÏ FM DPUYF - BMUSF EJB MJ WBJH DPNVOJDBS B M BMDBMEF RVF M BSSFHMFT 5BNCÏ IF EFNBOBU B UPUT FMT BKVOUBNFOUT EFM .BSFT NF RVF OP USFHVJO FM USBÎBU BD UVBM EF MB WJB EFM USFO EF MB DPTUB 1FS FYFNQMF OP FT QPU QFSESF FM 5ÞOFM EF .POUHBU $SFD RVF FT QBUSJNPOJ EF UPUT BRVFTUB MÓOJB EF #BSDFMPOB B .BUBSØ

* BNC MB TFWB MMVJUB QFS TBMWBS FM 1POU EFM 1FUSPMJ WB QFOTBS

727 %DGDORQD


3BNCMB 4BOU +PBO " #BEBMPOB

46+&5"%03 $0/ "30 5"--"4 B MB $01"4 13&'03."%"4 %*'&3&/5&4 5"."ยบ04

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t -B JOBVHVSBDJØ WB UFOJS MMPD EJTTBCUF QBTTBU BNC MB QSFTÒODJB E BVUPSJUBUT MPDBMT

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t -B (VËSEJB 6SCBOB KB IB BDUVBU QFS EFTBMMPUKBS QFSTPOFT EFM 1POU EFM 1FUSPMJ

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727 %DGDORQD


3(3 9(1785$

& 5(&725

&21*5(62 3LVR GH P KDE GREOHV EDxR SLH]DV EDOFyQ FDOHI 5($/ $08(%/$'2 $/48,/(5 ¼

3LVR HQ SODQWD EDMD GH P KDELWDFLRQHV EDxR FRQ EDxHUD VDOyQ P SHT SDWLR $/48,/(5 ¼

0217*$7

'~SOH[ P KDE LQG EXKDUGLOOD EDxRV FRFLQD HTXLS VDORQ P F VDOLGD D EDOFyQ JUHV \ SDUNHW FDOHIDF D D $08(%/$'2 $/48,/(5 ¼

025(5$

2&$6,Ï1 3LVR GH KDE H[W EDxR \ FRFLQD UHIRUP VDOyQ GH P EDOFyQ D DFRQG F ERPED GH FDORU $6& $08(%/$'2 < & (/(&752'20(67,&26 ¼ 376

3LVR HQ 3(3 9(1785$ GH P \ KDELWDFLRQHV GREOHV EDxR FRPSOHWR FRQ EDxHUD EDOFyQ ),1&$ &21 $6&(1625 ¼ 376

%8)$/¬

'$/7 /$ 9,/$

3LVR ,'($/ 3$5(-$6 P KDE EDxR FRPSO FRFLQD HTXLS VDOyQ HQ DPELHQWHV V JUHV FDOHIDF SHT SDWLR /,672 3$5$ (175$5 ¼ 376

&(175( 3LVR (;7(5,25 P KDE GREOHV FRFLQD DELHUWD DO VDOyQ JUHV \ SDUNHW FDOHIDF D D S UREOH DVFHQVRU ),1&$ 6(0, 18(9$ 3. ,1&/8,'2 ¼ 376

$SDUWDPHQWR HVWXGLR GH P 7(55$=$ GH P KDE FRFLQD HTXLS )LQFD FRQ DVFHQVRU ¼ 376

0217*$7

2&$6,Ï1

3LVR GH P KDELWD FLRQHV (;7(5,25 EDxR \ DVHR VDOyQ F VDOLGD D EDOFyQ FDOHIDFFLyQ DVFHQVRU %,(1 &216(59$'2 ¼

/$ 3/$1$

3LVR P KDE EDxR \ FRFLQD UHI VDOyQ P F VDOLGD D EDOFyQ V JUHV \ SDUNHW FDOHI D D DVFHQVRU /,672 3$5$ (175$5 $ 9,9,5 ¼ 376

3LVR HQ 6$17 &(%5,$ '( 9$//$/7$ 72'2 (;7(5,25 P KDE VXLWWH EDxRV FRFLQD RI¿FH 7(55$=$ P FDOHIDF DVF =21$ &20 & 3,6&,1$ 3. ,1&/ ¼ 376

7,$1$

&$6$*(0(6

3LVR P KDE VXLWWH EDxR \ DVHR FRFLQD P VDOyQ P F VDOLGD D EDOFyQ FDOHIDF DVF =21$ &20 & 3,6&,1$ 3. 23& ¼ 376

& 6$17,$*2 586,f2/ &DVD GH P HQ SODQWDV KDE GREOHV EDxR \ DVHR FRFLQD GHVSHQVD VDOyQ P SHTXHxR SDWLR FDOHIDFFLyQ ¼ 376

727 %DGDORQD

'03."5 /06 JOEE

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&DVD ,'($/ 3$5(-$6 KDEL WDFLyQ GH P EDxR GH SLH]DV FRQ SODWR GH GXFKD FRFLQD DELHUWD DO VDOyQ SHTXHxR SDWLR -8172 +263,7$/ ¼ 376

%8)$/¬

3LVR HQ ),1&$ 6(0, 18(9$ GH P KDE VDOyQ P F VDOLGD D EDOFyQ V JUHV FDOHIDF DVFHQVRU 3. 23& ¼ 376 &$6$*(0(6

7,$1$

3LVR 72'2 (;7(5,25 P KDE GREOHV EDxR \ FRFLQD UHIRUPDGRV VDOyQ F VDOLGD D EDOFyQ SDUNHW \ JUHV FDOH IDF DOWLOOR WHUUD]D FRPXQLWDULD DVFHQVRU 727$/0(17( 5()250$'2 ¼ 376

&(1752

&DVD P 3$7,2 P 7(55$=$6 GH P F X KDE EDxR \ DVHR VDOyQ P FDOHI D D WUDVWHUR &$6$ &21 08&+$6 326,%,/,'$'(6 ¼ 376

3LVR P & 35,0 KDE GREOHV EDxR \ DVHR FRFLQD D UHIRU PDU VDOyQ P F VDOLGD D EDOFyQ FDOHI ¿QFD F DVF %8(1$ =21$ ¼ 376

&$1 0(5&$'(5

'$/7 /$ 9,/$

3LVR P (;7 KDE EDxRV FRFLQD ODYDGHUR VDOyQ P EDOFyQ FDOHI DOWLOOR HQ SDVLOOR ]RQD FRP F MDUGLQ 3$5$ (175$5 $ 9,9,5 ¼ 376

0217*$7

&$6$*(0(6

3LVR P 7(55$=$ P KDE VXLWWH EXKDUGLOOD EDxRV DVHR FRUWHVLD VDOyQ LQGHS P F VDOLGD EDOFyQ DVF /,1($ 0$5 ¼ 376

7,$1$

&DVD FRQ 08&+$6 326,%,/,'$ '(6 GH P -$5',1 GH P KDE WUDVWHUR SDUNLQJ ¼ 376

7,$1$

'Ò3/(; P 75=$6 P \ P KDE EXKDUGLOOD EDxRV DVHR VDOyQ P FDOHI D D DVF =21$ &20 & 3,6&,1$ 3/ 3. < 75$67(52 ,1&/ ¼ 376

//(),¬

3LVR P \ KDE GREOHV EDxR \ FRFLQD UHI VDOyQ P VXHOR QXHYR JUHV FDOHIDF DLUH IULR FDORU DVFHQVRU -72 %,%/,27(&$ ¼ 376

%8)$/¬

3LVR P KDE GREOHV EDxRV JUDQ FRFLQD RI¿FH VDOyQ P F VDOLGD D EDOFyQ FDOHIDF DUP HPS DVFHQVRU 72'2 (;7(5,25 ¼ 376

&DVD P EXKDUGLOOD KDE FRFLQD RI¿FH FRQ SDWLR FDOHIDF 683(5 =21$ GLYLGLGD HQ SO EDMD SLVR \ EXKDUGLOOD ¼ 376

2&$6,Ï1 3LVR P \ KDE EDxR F SODWR GH GXFKD SHTXHxR WUDVWHUR DVFHQVRU SUHFLVD UHIRUPDV HQ JHQHUDO 3,62 &21 08&+$6 326,%,/,'$'(6 ¼ 376

3LVR P KDE VXLWWH EDxR \ DVHR VDOyQ P F VDOLGD D EDOFyQ FDOH IDF DVF $08(%/$'2 < & (/(&752' =21$ &20 & 3,6&,1$ 3. ,1&/Ñ6 ¼ 376

&DVD P SDWLR P HQ &(1752 MXQWR $\WR K \ EXKDUGLOOD EDxRV \ DVHR FDOHIDF VDOyQ FRQ FKLP JDUDMH WRGD H[W PX\ VROHDGD ¼ 376


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#BEBMPOB DFMFCSB VOB OPWB FEJDJØ EF

MB 'FTUB EFM .BS -B SFMBDJØ EFM NBS BNC MB DJVUBU WB TFS VO BOZ NÏT FM QSJODJQBM PCKFDUJV EF MB 'FTUB EFM .BS EF #BEBMPOB DFMFCSBEB EVSBOU FM QBTTBU DBQ EF TFUNBOB 4PSUJEFT BNC WBJYFMM FTQFDUBDMFT EF DBSSFS J QBSB EFUFT B MB 3BNCMB WBO PNQMJS FM QSPHSBNB E BDUJWJUBUT

-B4FUNBOB&O*NBUHFT JOEE

727 %DGDORQD


2%5$ 18(9$ & 0$5,1$ %$'$/21$ &(1752

££$ OOHJDGR HO PRPHQWR GH FRPSUDU (Q OD PHMRU ]RQD GH %DGDORQD MXQWR OD HVWDFLyQ GH 5(1)( $WLFRV GH WUHV GRUPLWRULRV GRV EDxRV \ JUDQ WHUUD]D $FDEDGRV GH FDOLGDG )DFLOLGD GHV GH ILQDQFLDFLyQ 3UHFLR GHVGH VROR (XURV /ODPH \ OH LQIRUPDUHPRV & 0$57Ì 38-2/ %$'$/21$ 2%5$ 18(9$ & %$/'20(52 62/­ 2%5$ 18(9$ (1 &$1(7 '( 0$5

)DQWiVWLFRV SLVRV GH HQWUHJD LQPHGLDWD $PSOLRV VDORQHV GRUPLWRULRV DPSOLRV EDxRV &RFLQDV RI¿FH \ HTXLSDGDV 6XHOR GH PiUPRO &OLPDOLW $LUH DFRQGLFLRQDGR \ FDOHIDFFLyQ LQG D JDV 7RGRV H[WHULRUHV *UDQGHV WHUUD]DV \ VRODULXP 3DUNLQJ RSFLRQDO (175(*$ ,10(',$7$ 35(&,26 ½

%$'$/21$ &(1752 3LVRV GH \ KDE JUDQGHV WHUUD]DV )LQFD REUD YLVWD $FDEDGRV GH FDOLGDG $ $ ERPED GH FDORU 3OD]DV GH SDUNLQJ RSFLRQDO HQ OD PLVPD ILQFD 9,6,7( 3,62 '( 08(675$ 35(&,26 'HVGH ½ KDE ½ KDE ½ KDE \ JUDQ WHUUUD]D

&$1(7 '( 0$5 &(1752 )DQWiVWLFRV SLVRV GH QXHYD FRQVWUXFFLyQ 3LVRV GH \ GRUPLWRULRV ÈWLFRV GXSOH[ FRQ WHUUD]D $FDEDGRV GH JUDQ FDOLGDG 7RGRV FRQ SOD]D GH SDUNLQJ \ WUDVWHUR LQFOXLGR HQ SUHFLR 3UHFLRV GHVGH 3LVR KDE ½ 3LVR KDE ½ ÉWLFR G~SOH[ \ WHUUD]D ½ /ODPH \ OH LQIRUPDUHPRV

2%5$ 18(9$ 5 6$17 -25',

2%5$ 18(9$ & *8,)5e

2%5$ 18(9$ -72 0­*,& %'1

-72 5(1)( 021*$7 3LVRV KDE H[WHULRUHV VRODULXP 3ODQWD G~SOH[ KDE \ EDxRV DVHR \ JUDQ WHUUD]D $FDEDGRV GH H[FHOHQWH FDOLGDG 9LVWDV PX\ DJUDGDEOHV ([FHOHQWH ]RQD MXQWR DO PDU 3DUNLQJ \ WUDVWHUR RSFL (175(*$ ,10( ',$7$ 35(&,26 KDE VRODULXP ½ '~SOH[ KDE \ JUDQ WHUUD]D ½

-72 6$/(6,$126 %$'$/21$ &(1752 3LVRV GH \ KDE $FDEDGRV FDOLGDG ([W D FDOOH 0X\ VROHDGRV &OLPDOLW $ $ ERPED GH FDORU 3OD]DV SDUNLQJ RSF (175(*$ ,10(',$7$ 35(&,26 /RIW KDE ½ 3LVR KDE ½ 3LVR KDE \ JUDQ WHUUD]D SOD]D SDUNLQJ ½

3LVRV KDE FRQ VRODULXP 3LVRV KDE FRQ VRODULXP 3ODQWDV G~SOH[ \ KDE FRQ WHUUD]D \ HQWUDGD LQGHS $FDEDGRV GH FDOLGDG 0X\ EXHQDV YLVWDV (175(*$ ,10(',$7$ 35(&,26 KDE \ WHUUD]D ½ KDE VRODULXP ½ 3ODQWD EDMD LQGHSHQGLHQWH JUDQ WHUUD]D ½

6L HV XVWHG 35202725 OOiPHQRV \ KDEODPRV

$YHQLGD %XIDOi 3ODQWD %DGDORQD

ZZZ P LQWHJUDO FRP

727 %DGDORQD

. *OUFHSBM QBH JOEE


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