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08&+$6 326,%,/,'$'(6 ¼ 376

&(175(

'$/7 9,/$

&$1 0(5&$'(5

%8)$/¬

&$6$*(0(6

6RODU P HGL¿FDEOH -72 ,1'(3(1'(1&,$ IDFKDGD PWV [ PWV IRQGR SRVLEOH FRQVWUXLU SO EDMD SLVRV DFWXDOPHQWH JDUDMH \ JUDQ SDWLR P ¼ 376

&$6$*(0(6

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

727 %DGDORQD

QBHJOB JOEE

3LVR 72'2 (;7(5,25 HQ ¿QFD SRFRV DxRV P KDE VXLWWH VDOyQ P F EDOFyQ FDOHIDF DUP HPS DVF -8172 0217,*$/¼ 376

/$ 3/$1$

È7,&2 '83/(; P 7(55$=$ P KDE GREOHV EXKDU GLOOD P EDxRV FRFLQD F HOHFWURGRP VDOyQ F VDOLGD D WHUUD]D DVF FDOHI $08(%/$'2 ),1&$ 6(0, 18(9$ ¼ 376

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

&$6$*(0(6

'$/7 /$ 9,/$

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

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

& 6$17,$*2 586,f2/

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

&DVD GH P HQ SODQWDV KDE GREOHV EDxR \ DVHR FRFLQD GHVSHQVD VDOyQ P SHTXHxR SDWLR FDOHIDFFLyQ ¼ 376

'83/(; P 7(55$=$ P KDE VXLWWH EXKDUGLOOD EDxRV DVHR FRUWHVLD VDOyQ LQGHS P F VDOLGD D EDOFyQ DVFHQVRU /,1($ '( 0$5

¼ 376

&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

%8)$/¬

%8)$/¬

0217*$7

3LVR 6(0,18(92 KDE VXLWWH

EDxRV EDOFyQ WLSR WHUUD]D 9,67$6 $ 0$5 FDOHI ~OWLPR SLVR F DVFHQVRU ]RQD FRPXQLWDULD F SLVFLQD SDUNLQJ RSFLRQDO ¼ 376

7,$1$

0217*$7

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

/$ 025(5$

3LVR P (;7(5,25 KDE EDxRV FRFLQD ODYDGHUR VDOyQ P EDOFyQ FDOHI DOWLOOR HQ SDVLOOR ]RQD FRP F MDUGLQ /,672 3$5$ (175$5 $ 9,9,5 ¼ 376

&(175( $SDUWDPHQWR HVWXGLR P 7(55$=$ P KDE ¿QFD SRFRV ¼ 376

3LVR -8172 5$0%/$ GH P KDE FRFLQD \ EDxR VDOyQ FRQ VDOLGD D EDOFyQ D OD FDOOH SDUNHW SRFRV YHFLQRV ¼ 376

3LVR GH P KDE EDxR \ FRFLQD UHIRUPDGRV VDOyQ P EDOFyQ D OD FDOOH FDOHIDF ¿QFD FRQ DVFHQVRU -8172 $0%8/$725,2 ¼ 376

3,62 &21 3$5.,1* ,1&/8,'2 KDE GREOHV FRFLQD DELHUWD DO VDOyQ P EDOFyQ FDOHIDF D D $6&(1625 7RGR H[WHULRU ,03(&$%/( ¼ 376

YHFLQRV FRQ DVFHQVRU -8172 & 35,0

&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 3LVR 72'2 (;7(5,25 FRQ KDE ¿QFD FRQ DVFHQVRU EDxR \ DVHR VDOyQ P FRQ EDOFRQHUD SDUNHW \ JUHV SRFRV YHFLQRV 6(0, 18(92 ¼ 376

/$ 025(5$

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

7,$1$ &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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3ËEJP 1PNBS JOBVHVSB OPVT FTUVEJT BNC FM SFQUF E PGFSJS NÏT DPOUJOHVUT MPDBMT

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1PNBS t - FNJTTPSB CBEB MPOJOB 3ËEJP 1PNBS BDB CB E JOBVHVSBS OPVT FTUVEJT TJUVBUT B M "WJOHVEB 1SJNFS EF .BJH %FTQSÏT EF EVFT VCJDBDJPOT MB QSJNFSB EJOT M FTHMÏTJB EFM CBSSJ J MB TFHPOB EBNVOU EFM $FOUSF $ÓWJD EF 1PNBS M FNJTTPSB MPDBM IB BNQMJBU FMT TFVT FTUVEJT 3ËEJP 1PNBS RVF WB OÏJYFS BSB GB BOZT IB FTUSFOBU UBNCÏ OPVT FRVJQT FMFDUSÛOJDT J UFDOP MÛHJDT EF EBSSFSB HFOFSBDJØ &M EJSFDUPS EF MB SËEJP "MCFSU "SOBV IB EFTUBDBU M FTGPSÎ RVF IB SFBMJU[BU M FNJTTPSB TFOTF FM TVQPSU EF M BENJOJTUSBDJØ QÞCMJDB QFS FTUSFOBS MFT OP WFT JOTUBMtMBDJPOT 1FS "SOBV iBRVFTUT FTUVEJT SFQSFTFOUFO VOB DPOTPMJEBDJØ EFM NJUKB J EFNPTUSB RVF TPN VO QSPKFDUF TÛMJE J DBEB EJB DSFJYw $PJODJ EJOU BNC MB JOBVHVSBDJØ EFMT OPVT FTUVEJT 3ËEJP 1PNBS

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UBNCÏ BDBCB E FTUSFOBS VOB OPWB VOJUBU NÛCJM RVF QFSNFUSË UFOJS NÏT QSFTFODJB BM DBSSFS J SFBMJU[BS QSPHSBNFT FO EJSFD UF EFT EF RVBMTFWPM QVOU EF #BEBMPOB 3ËEJP 1PNBS FTUSFOBSË UFSUÞMJFT B QBSUJS EF TFUFNCSF &M DBOWJ EF MPDBM FT USBEVJSË EVSBOU FMT QSPQFST NFTPT FO VO DBOWJ EF QSPHSBNBDJØ 4F HPOT IB FYQMJDBU "MCFSU "SOBV i7PMFN FTUBS NÏT B QSPQ EF MB OPTUSB BVEJÒODJB J QFS BJYÛ FT USFOBSFN OPVT FTQBJT J GBSFN NÏT DPOUJOHVUT RVF QBSMJO EF #BEBMPOBw 6OB EF MFT HSBOT OPWFUBUT TFSË M FTUSFOB EF UFS UÞMJFT NBUJOBMT EFEJDBEFT B QBSMBS EF M BDUVBMJUBU CBEBMP OJOB i7PMFN GFS UFSUÞMJFT QMV SBMT BNC WFVT SFQSFTFOUBUJWFT EF MB DJVUBUw BQVOUB "SOBV -FT UFSUÞMJFT EF 3ËEJP 1PNBS UBNCÏ UJOESBO MB QBSUJDJQBDJØ

< > 3ËEJP 1PNBS ' .

XXX SBEJPQPNBS DPN

727 %DGDORQD

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9BWJ 1POT UÒDOJD EF MB $SFV 3PKB

RVF ÏT VOB BMUSB WJB RVF FTUË BHBGBOU GPSÎB

$PN DPNFOÎB BRVFTU QSPKFDUF 7B J O J D J B S T F B Q S J O D J Q J T E BRVFTU BOZ B QSPQPTUB EFM $POTPSDJ #BEBMPOB 4VE RVF ÏT RVJ EFUFDUB MFT OFDFTTJUBUT EFM CBSSJ &O VO NPNFOU EF DSJTJ DBEB WFHBEB ÏT NÏT OF DFTTBSJ USFCBMMBS FO MB JOTFSDJØ MBCPSBM $PN IJ DPMtMBCPSB MB $SFV 3PKB )J IB EVFT MÓOJFT 6OB E FMMFT FT EJV *OUFSMBCPSB RVF BNC SFDVSTPT EFM 'POT 4PDJBM &VSP QFV T BKVEB FMT DPMtMFDUJVT NÏT WVMOFSBCMFT BNC OFDFT TJUBU E JOTFSDJØ MBCPSBM J TF MT GB VO SFDPSSFHVU QFSTPOBMJU[BU 1FS BMUSB CBOEB FM UFNB RVF QPSUP KP ÏT FM E BVUPPDVQBDJØ ÏT B EJS USFCBMMBS QFS VO NBUFJY

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DPNFSDJBM EFMT CBSSJT EF #B EBMPOB 4VE 4F MT GB KPSOBEFT TPCSF UFNFT RVF JOUFSFTTB FMT CPUJHVFST DPN QFS FYFN QMF YFSSBEFT TPCSF MMJDÒODJFT E BDUJWJUBUT TPCSF MFT BTTPDJB DJPOT EF DPNFSDJBOUT NVMUJÒU OJRVFT FUD

2VÒ WPM EJS BVUPPDVQBDJØ 1FSTPOFT RVF UFOFO VOB JEFB EF OFHPDJ J MB WPMFO GFS SFBMJUBU &TUFN QBSMBOU EF DPMtMFDUJVT WVMOFSBCMFT RVF OP UFOFO BD DÏT BM TJTUFNB CBODBSJ PSEJOBSJ J TF MT BKVEB B USBWÏT EFMT NJ DSPDSÒEJUT

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"NC RVJOFT JEFFT EF OFHPDJ VT IFV USPCBU )J IB EF UPU QFSRVÒ MB HFOU ÏT NPMU DSFBUJWB EFT E BRVFMMT RVF WPMFO GFS EF USBOTQPSUJT UFT BMT RVF WPMFO PCSJS VOB GSVJUFSJB P FYQPSUBS QSPEVDUFT DBUBMBOT B /JHÒSJB 1FS BMUSB CBOEB EFT EF MB $SFV 3PKB UBNCÏ IFV GFU VO QSPHSBNB EF EJOBNJ U[BDJØ DPNFSDJBM &O RVÒ DPOTJTUFJY 4 JOUFOUB QPUFODJBS FM UFJYJU

.ÏT JOGPSNBDJØ B 5FMÒGPO $POTPSDJ #BEBMPOB 4VE $ 4BOU +PBO &WBOHFMJTUB T O B QMBOUB

727 %DGDORQD

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

2%5$ 18(9$ & 0$5,1$

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

-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

££$ 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 )DFLOLGDGHV GH ¿QDQFLDFLyQ 3UHFLR GHVGH VROR (XURV /ODPH \ OH LQIRUPDUHPRV

-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

2%5$ 18(9$ (1 &$1(7 '( 0$5 2%5$ 18(9$ & %$/'20(52 62/­

& 0$57Ì 38-2/ %$'$/21$

%$'$/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

)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

&$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$ -72 0­*,& %$'$/21$ 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

DFWXDOLWDW

OD VHWPDQD HQ LPDWJHV

&M HSVQ EF HPTQFM 4FOUJUT PNQMF FM ;PSSJMMB %JOT FM QSPHSBNB EFM #B EBMPOB &TDFOB FM QBTTBU EJVNFOHF WBO BDUVBS BM 5FBUSF ;PSSJMMB FM HSVQ CBEBMPOÓ 4FOUJUT -B GPSNBDJØ BNBUFVS WB QSFTFOUBS FM DPODFSU i&O DMBV EF HPTQFMw &M UFBUSF WB RVFEBS QFUJU QFS WFVSF MB TFWB BDUVBDJØ .JRVFM "SCSBT PNQMF EF NÞTJDB FM 3BGBFM)PUFMFT .ÏT E VOB WVJUBOUFOB EF QFSTPOFT WBO BTTJTUJS FM QBTTBU EJTTBCUF B MB OJU BM DPODFSU EFM DBOUBVUPS DBUBMË .JRVFM "SCSBT BM 3BGBFM)P UFMFT &M DPODFSU PSHBOJU[BU QFS 1SPEVDDJPOT E 0SJHFO WB TFSWJS QFS QSFTFOUBS MB TFWB HJSB i$SJEBw BNC M BKVEB EF MB TFWB HVJUBSSB - BDUVBDJØ EF EJTTBCUF WB TVQPTBS M FTUSFOB EF 3BGBFMIPUFMFT DPN B TBMB EF DPODFSUT 'PUP #FSOBU 1BEJMMB

%JB EF M 0SHVMM (BJ B #BEBMPOB $PJODJEJOU

BNC FM %JB EF M 0SHVMM (BJ DFMFCSBU FM QBTTBU EJVNFOHF M "KVOUBNFOU EF #BEBMPOB WB QFOKBS MB CBOEFSB BNC M "SD EF 4BOU .BSUÓ QFS DPNNFNP SBS BRVFTU EJB -B GBÎBOB EFM DPOTJTUPSJ CBEBMPOÓ WB MMVJS MB CBOEFSB EVSBOU UPU FM EJB 'PUP 3JDBSE &TQBS[B

.BSD 1PODF EFM $ / #BEBMPOB DBNQJØ EF $BUBMVOZB -B QJTDJOB 4BOU +PSEJ WB BDPMMJS FM QBTTBU DBQ EF TFUNBOB MB 'JOBM 5FSSJUPSJBM #FOKBNÓ EFM $BNQJPOBU EF $BUBMVOZB EF OBUBDJØ .BSD 1PODF OFEBEPS EFM $MVC /BUBDJØ #BEBMPOB FT WB QSPDMBNBS DBNQJØ EF $BUBMVOZB FO MB QSPWB EF NFUSFT QBQBMMPOB DBUFHPSJB #FOKBNÓ BOZT J TVCDBNQJØ FO MB EF NFUSFT FTUJMT

%POFT EF #BEBMPOB QBSUJDJQFO B

M &TDPMB E &TUJV "RVFTUB TFUNBOB IB UJOHVU MMPD MB RVBSUB FEJDJØ EF M &TDPMB E &TUJV EF MFT %POFT PSHBOJU[BEB QFS MB 3FHJEPSJB E "DDJØ 4PDJBM EF M "KVOUBNFOU EF #BEBMPOB B M JOTUJUVU #BEBMPOB - FTDPMB E FTUJV T IB DPOTPMJEBU DPN VO SFGFSFOU EF MFT BDDJPOT GPSNBUJWFT EF MB DJVUBU

-B4FUNBOB&O*NBUHFT JOEE

727 %DGDORQD

1MBOJm DBEB MB QSFUFNQPSBEB EFM %,7 +PWFOUVU

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#BEBMPOB t - "KVOUBNFOU EF #BEBMPOB IB TJHOBU VO DPOWFOJ BNC M PSHBOJU[BDJØ EF MB WJOUFOB FEJDJØ EFM $BNQJPOBU E "UMFUJTNF E &VSPQB "RVFTU BDPSE QFSNF USË RVF MB DJVUBU EF #BEBMPOB QBSUJDJQJ EF NBOFSB BDUJWB FO MB SFBMJU[BDJØ EFM DBNQJPOBU &M $BNQJPOBU E &VSPQB E "UMFUJTNF UJOESË MMPD B #BSDFMPOB EFM EF KVMJPM B M E BHPTU EF M BOZ WJOFOU

FNCSF M FRVJQ FT EFTQMBÎBSË DPN KB ÏT IBCJUVBM B MB MPDB MJUBU BOEPSSBOB E 0SEJOP PO SFBMJU[BSË MB DPSSFTQPOFOU FTUBEB -B -MJHB $BUBMBOB FT KVHBSË FM J EF TFUFNCSF TFO TF TBCFS FODBSB FM MMPD PO FT GBSË -B DPNQFUJDJØ "$# EPOBSË JOJDJ FM DBQ EF TFUNBOB EFM J E PDUVCSF

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