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727 %DGDORQD
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{1VFEF BZVEBSUF MB 2VJSPQSÈDUJDB -B 2VJSPQSÈDUJDB FT VOB EF MBT SBNBT NÈT JNQPSUBOUFT EF MB NFEJDJOB OBUVSBM 4F CBTB FO FOUFOEFS TPCSFUPEP RVF UFOFS CVFOB TBMVE EFQFOEF EF UFOFS VO TJTUFNB OFSWJPTP TBOP &M DSÈOFP QSPUFHF FM DFSFCSP Z MB DPMVNOB QSPUFHF MB NÏEVMB FTQJOBM Z MBT SBÓDFT EF MPT OFSWJPT RVF CBKBO B MP MBSHP EF ÏTUB EFTEF MB CBTF EFM DSÈOFP DP OFDUBOEP BTÓ FM DFSFCSP DPO FM SFTUP EF MPT ØSHBOPT EFM DVFSQP &M EFTQMB[BNJFOUP EF MBT WÏSUFCSBT DBVTB JSSJUBDJPOFT FO MPT OFSWJPT RVF QVFEFO QSPEVDJSTF QPS EJGFSFOUFT DBVTBT DPNP QPS FKFNQMP BDDJEFOUFT TPCSFFTGVFS[PT BTÓ DPNP FTUSÏT Z UFOTJPOFT -PT EPDUPSFT FO 2VJSPQSÈDUJDB MMBNBO B FTUF EFTQMB[BNJFOUP TVCMVYBYJØO WFSUFCSBM &TUBT TVCMVYBDJPOFT TPO B NFOVEP MB DBVTB EF NVDIPT QSPCMFNBT Z DBVTBO MB QÏSEJEB EF TBMVE EFM DVFSQP -B 2VJSPQSÈDUJDB FOTF×B RVF SFEVDJS P FMJNJOBS MBT TVCMVYBDJPOFT WFSUFCSBMFT SFTUBVSBOEP BTÓ MB CJPNFDÈOJDB EF MB DPMVNOB QFSNJUF BM DVFSQP TFS NÈT FmDJFOUF MF BZVEB B TBOBS QPS TÓ NJTNP Z B SFDVQFSBS Z NBOUFOFS VO FTUBEP EF TBMVE ØQUJNP
-" 26*3013«$5*$" 5& 16&%& ":6%"3 4* 46'3&4 %& "MFSHJBT -FTJPOFT %FQPSUJWBT %PMPS )PNCSPT #SB[PT 3FOEJNJFOUP BUMÏUJDP "UFODJØO %FmDJUBSJB 1SPCMFNBT BVEJUJWPT 5SBVNB FO FM QBSUP 1BSÈMJTJT GBDJBM %JTGVODJØO $FSFCSBM %JTGVODJØO $BSEJBDB 4ÓOESPNF EFM 5ÞOFM DBSQJBOP 1SPCMFNBT EJHFTUJWPT )FSOJBT EJTDBMFT 1SPCMFNBT EF 1JFM 'JCSPNJBMHJB 'BUJHB DSØ OJDB )JQFSBDUJWJEBE %PMPS EF $BCF[B .JHSB ×BT *ONVOJEBE $PMØO JSSJUBCMF 1SPCMFNBT EF "QSFOEJ[BKF %PMPS EF FTQBMEB
%PMPSFT .FOTUSVBMFT &TDMFSPTJT .ÞMUJQMF %PMPS $FSWJDBM $JÈUJDB -VNCBHP 1SPCMFNBT OFVSPMØHJDPT *OGFDDJPOFT EFM PÓEP 0UJUJT
1SPCMFNBT QVMNPOBSFT /ÈVTFBT &TDPMJPTJT "TNB 5PSUÓDPMJT $ØMJDPT %JTGVODJPOFT HBTUSPJOUFT UJOBMFT "SUSJUJT "SUSPTJT &QJMFQTJB $POWVMTJPOFT ÁMDFSBT 3FnVKP «DJEP 4JOVTJUJT 7ÏSUJHPT .BSFPT 5JSPJEFT )JQP F )JQFS 4ÓOESPNF EF .ÏOJÒSF /FVSBMHJB USJHFNJOBM %JBCFUFT
$ .ÏOEF[ /Þ×F[ #BEBMPOB XXX TVCMVYBDJPO DPN
BOVODJ JOEE
0'&35" &41&$*" %& %&4$6&/50 &/ 46 7*4*5" 1SFDJP OPSNBM &63
*ODMVZF t $JUB *OGPSNBUJWB t &YBNFO 2VJSPQSÈDUJDP DPNQMFUP t *OGPSNF EFUBMMBEP -MBNB BIPSB BM
0GFSUB WÈMJEB IBTUB FM
DFWXDOLWDW
HVSRUWV 4 BDBCB FM iDVMFCSPU EF M FTUJV J 3VCJP KVHBSË BM #BSÎB #BEBMPOB t 3JDLZ 3VCJP KB T IB EFDJEJU J MB TFWB PQDJØ IB FTUBU MB EF KVHBS BM 3FHBM #BSÎB UPU J M ÞMUJN JOUFOU EFMT 5JNCFSXPMWFT QFS FOEVS TF M B M /#" 'JOBMNFOU BRVFTU EJNBSUT T IB GFU PGJDJBM FM USBTQËT VO DPQ FM DMVC CMBV HSBOB J MB 1FOZB WBO UBODBS FMT ÞMUJNT EFUBMMT &MT .JO OFTPUB 5JNCFSXPMWFT M FRVJQ RVF WB FTDPMMJS FM KVHBEPS FO FM OÞNFSP EFM iESBGU w FT WB SFVOJS EJMMVOT BNC +PSEJ 7JMMBDBNQB QSFTJEFOU EF MB 1FOZB - P C K F D U J V F S B Q S F T F O U B S
GSB QFSÛ FSB JOGFSJPS B MB EFM #BSÎB J FM KVHBEPS KB WB EJS RVF
M PGFSUB RVF GB MB GSBORVÓDJB QFM CBTF EFM .BTOPV -B YJ
7DPEÉ ÉV QRWÍFLD
&M #BEBMPOB JOBVHVSB MB MMJHB HPMFKBOU FM #BSÎB "UIMFUJD
#BEBMPOB t &MT FTDBQVMBUT OP QPEJFO DPNFOÎBS BRVFTU EJVNFOHF EF MB NJMMPS GPSNB QPTTJCMF MB MMJHB EFTQSÏT EF EFSSPUBS QFS HPMT B FM #B SÎB "UMÒUJD 6OB HSBO BSSFODBEB OP OP NÏT QFM SFTVMUBU TJOØ UBNCÏ QFM CPO KPD EFMT IPNFT FOUSF OBUT BRVFTUB UFNQPSBEB QFS .BOPMP (PO[ÈMF[ "M NJOVU *WBO .BUFP QP TBWB M B BM NBSDBEPS *
QBH JOEE
"MBJO ,PGm OPV KVHBEPS WFSE J OFHSF
&M %,7 +PWFOUVU IB mUYBU FM QJWPU GSBODÒT "MBJO ,PGm &M KVHBEPS WB QBTTBS BRVFTU EJNBSUT MFT QSPWFT NÒEJRVFT BM DFOUSF NÒEJD $SFV #MBODB QFSÛ QFS MB UBSEB WB UPSOBS B 1BSJT KB RVF UFOJB DPODFOUSBDJØ BNC MB TFMFDDJØ GSBODFTB
KVTU BCBOT EFM EFTDBOT BM %BWJE 1SBUT GFJB FM TFHPO HPM 'JOBMNFOU .BUFP WB NBS DBS EF OPV BM NJOVU EF MB TFHPOB QBSU &MT CMBVHSBOFT FT WBO WFVSF FO UPU NPNFOU TVQFSBUT QFS VO #BEBMPOB RVF WB FTUBS mDBU EJOT FM QBSUJU EVSBOU FMT NJOVUT J RVF FO DBQ NPNFOU WB QFSNFUSF T FM MVYF EF EFTQJTUBS TF
5SFT QPEJT QFM $MVC 3FN #BEBMPOB FO FM DBNQJPOBU EF $BUBMVOZB EF -MBHVU " mOBMT E BHPTU FT WB DFMFCSBS B MB CBEJB EF 3PTFT FM 97 $BN QJPOBU EF $BUBMVOZB EF -MBHVU DBUBMË &M $MVC EF 3FN #BEBMPOB WB RVFEBS DBNQJØ EF $BUBMVOZB FO MFT DBUFHPSJFT KVWFOJM NBTDVMÓ J WFUFSË GFNFOÓ - FRVJQ TÒOJPS NBTDVMÓ WB RVFEBS UFSDFS J FM WFUFSË NBTDVMÓ VO TJTÒ MMPD
&M #BEBMPOB KVHBSË BRVFTU EJVNFOHF B MFT EF MB UBS
727 %DGDORQD
0217*$7
320$5
%8)$/¬
3LVR HQ &$1 &,85$1$ GH P KDE \ WUDVWHUR P 5()250$'2 EDOFyQ \ JDOHUtD EXHQDV YLVWDV /,672 3$5$ 9,9,5 $/48,/(5 ¼
3LVR HQ 0$57Ë 38-2/ FRQ P KDE FRFLQD \ EDxR UHIRU PDGRV VDOyQ P FRQ EDOFyQ FDOHIDF ILQFD FRQ DVFHQVRU $/48,/(5 ¼
&$1 0(5&$'(5
&$1<$'Ï
3LVR P KDE \ VWXGLR EDxRV FRQ GXFKD VDOyQ D QLYHOHV FRQ WHUUDFLWD 72'2 (;7(5,25 ]RQD DMDUGLQDGD GHSRUWLYD FRPXQLWDULD $/48,/(5 ¼
//25('$
3LVR 72'2 (;7(5,25 FRQ KDE 683(5 5()250$'2 DLUH IUtR FDORU DOWXUD UHDO -8172 ,*/(6,$ ¼ 376
3LVR FRQ KDE EDxR FRQ GXFKD ¿QFD FRQ DVFHQVRU 'LVSRQLELOLGDG LQPHGLDWD 08&+$6 326,%,/,'$'(6 ¼ 376
%8)$/¬
/$ 025(5$
-8172 0$57Ë 38-2/ 3LVR FRQ KDELWDFLRQHV FDOHIDF FLyQ VDOyQ H[WHULRU OLVWR SDUD YLYLU %8(1$ =21$ ¼ 376 3LVR P KDE FRQ VDOLGD D EDOFyQ FRFLQD \ EDxR VDOyQ P 683(5 =21$ PX\ FHUFD GHO FHQWUR ¼ 376
&(175(
2&$6,Ï1
/RFDO HQ OD 5$0%/$ P HQ SO EDMD IDFKDGD D FDOOHV YDGR SDUD YHKtFXORV WHFKRV PWV 3RVLEOH KDFHU FDPELR XVR VH SXHGH KDFHU YLYLHQGD 08&+$6 326,%,/,'$'(6 ¼ 376
3LVR 6$17 &(%5,$ '( 9$//$/7$ 72'2 (;7(5,25 P KDE VXLWWH EDxRV FRFLQD RI¿FH 7(55$=$ P FDOHIDF DVF =21$ &2081,7$5,$ & 3,6&,1$ 3. ,1&/8,'2 ¼ 376
7,$1$
%8)$/¬
&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
&$6$*(0(6
&(175( 3,62 $3$57$0(172 P 7(55$=$ P KDE ¿QFD SRFRV YHFLQRV FRQ DVFHQVRU -8172 & 35,0 ¼ 376
&$6$*(0(6
QBHJOB JOEE
3LVR /,672 3$5$ 9,9,5 GH P K GREOHV EDxR \ FRFLQD UHIRUPDGRV VDOyQ P F VDOLGD D EDOFyQ SDUTXHW \ JUHV FDOHIDF D DFRQG DVFHQVRU ¼ 376
'$/7 9,/$
%8)$/¬
&DVD ,'($/ 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
&(175(
'$/7 /$ 9,/$
3LVR 6(0, 18(92 MXQWR &$1 62/(, KDE 7(55$=$ P SDUNHW SDUNLQJ RSF WRGR H[WHULRU DVFHQVRU ¼ 376
&DVD FRQ 08&+$6 326,%,/,'$ '(6 GH P -$5',1 GH P KDE WUDVWHUR SDUNLQJ ¼ 376
3LVR HQ HO &(1752 GH %DGD ORQD P KDE $ 5()250$5 EDxR \ DVHR EDOFyQ D OD FDOOH FDOHIDF ¿QFD FRQ DVFHQVRU $ 076 '( /$ 3/$<$ ¼ 376
3(3 9(1785$
*UDQ SLVR P HQ $9 $/)216 ;,,, WRGR H[WHULRU $ 5()250$5 727$/0(17( HU SLVR FRQ DVFHQVRU ¼ 376
&(175(
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
È7,&2 FRQ 7(55$=$ P KDE WRWDOPHQWH UHIRUPDGR FDOHI SDUNHW \ JUHV ¿QFD F DVFHQVRU ,03(&$%/( ¼ 376
ÒOWLPR SLVR GH P KDE GREOHV EDxR F GXFKD SUHFLVD UHIRUPDV VDOyQ GH P WHUUD]D FRPXQLWDULD FRQ WUDVWHUR -72 &$121*( %$5$1(5$ ¼ 376
& 35,0
&DVD P EXKDUGLOOD KDE FRFLQD RI¿FH FRQ SDWLR FDOHIDF 683(5 =21$ GLYLGLGD HQ SO EDMD SLVR \ EXKDUGLOOD ¼ 376
//(),¬ 3,62 FRQ KDE GREOHV 5()250$'2 VDOyQ P FDOHI DLUH DFRQG ¿QFD FRQ DVFHQVRU -8172 %,%/,27(&$ 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
%8)$/¬
3LVR P KDE EDxR \ FRFLQD UHIRUPDGRV VDOyQ P F VDOLGD D EDOFyQ VXHOR JUHV FDOHIDF D D DVF 3$5$ (175$5 $ 9,9,5 ¼ 376
3LVR FRQ $6&(1625 HQ F 5$021 //8// KDE H[WHULRUHV DPXHEODGR \ 5()250$'2 ¼ 376
%8)$/¬
/$ 025(5$
3LVR GH P KDE EDxR \ FRFLQD UHIRUPDGRV ODYDGHUR VDOyQ FRQ VDOLGD D EDOFyQ DLUH IULR FDORU DVFHQVRU 72'2 (;7(5,25 $08(%/$'2 < &21 (/(&752'20(67,&26 ¼ 376
727 %DGDORQD
-72 3(3 9(1785$
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
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
DFWXDOLWDW
3ROÍWLFD
$BSMFT 5PSOFSP
*$7 &6J" EFOVODJB RVF MFT DBEJSFT BNGÓCJFT OP IBO GVODJPOBU UPU M FTUJV #BEBMPOB t " mOBMT E BHPTU *$7 &6J" EFOVODJBWB RVF MFT DBEJSFT BNGÓCJFT EF MB QMBUKB EFMT 1FTDBEPST J EF MB EFM 1POU E FO #PUJGBSSFUB IBO FTUBU GPSB EF TFSWFJ EVSBOU VO QBSFMM EF TFUNBOFT "RVFT UFT DBEJSFT TFSWFJYFO QFSRVÒ MFT QFSTPOFT BNC NPCJMJUBU SFEVÕEB QVHVJO HBVEJS E VO CBOZ 4FHPOT FM QSFTJEFOU EFM HSVQ NVOJDJQBM FDPTPDJBMJTUB $BSMFT 4BHVÏT FT EFNPTUSB RVF BM 1SJNFS 5JOFOU E "MDBMEF EF M "KVOUBNFOU EF #BEBMPOB 'FSSBO 'BMDØ OPNÏT M JNQPSUB iEPOBS MB HSBO OPUÓDJB J TJ FMT TFSWFJT EFTQSÏT OP GVODJPOFO FM QSPCMFNB KB OP ÏT TFV TJOØ EF MB HFOU RVF FMT OFDFTTJUBw 4BHVÏT FYQMJDB RVF FMT SÒUPMT RVF BOVODJBWFO FM TFSWFJ EF
GFU QFM RVBM FMT FDPTPDJBMJTUFT WBO DPOHSBUVMBS TF EF RVF i#BEBMPOB GVODJPOBw HSËDJFT B FMMT 4FHPOT $BSMFT 4BHVÏT iMB SFHJEPSB EF .FEJ "NCJFOU .FSDÒ 3JVT QPESË EPOBS MFT FYQMJDBDJPOT RVF WVMHVJ QFSÛ FM RVF IB RVFEBU CFO QBMÒT ÏT RVF T IB SFBDDJPOBU B QBSUJS EF MB EFOÞODJB QÞCMJDB OP RVBO IBVSJB DBMHVU GFS IP RVF ÏT RVBO MFT QFSTPOFT T BESFDFO B M "KVOUBNFOU EF MB DJVUBUw 3JVT IB OFHBU RVF MB DBEJSB EF MB QMBUKB EFM 1POU E FO #PUJGBSSFUB IBHJ EFJYBU EF GVODJPOBS J TÓ IB BENÒT RVF MB EF MB EFMT 1FTDBEPST IB FTUBU GPSB EF TFSWFJ QVOUVBMNFOU B DBVTB E VO FTHMBØ EF TPSSB RVF VOB NËRVJOB FYDBWBEPSB WB BSSFHMBS EF TFHVJEB
t $BEJSB BNGÓCJB EF MB QMBUKB EF #BEBMPOB QFS B QFSTPOFT BNC NPCJMJUBU SFEVÕEB
MFT DBEJSFT BNGÓCJFT UFOJB FM OÞNFSP EF UFMÒGPO UBQBU J RVF OP IJ IBWJB SBTUSF EF MFT DBEJSFT - "KVOUBNFOU IP OFHB 5PU J BJYÓ NFOZT E VOB EJB EFTQSÏT TFHPOT *$7 &6J" FM UFMÒGPO WB UPSOBS B BQBSÒJYFS
&M 11 FYJHFJY NÏT TFHVSFUBU J OFUFKB BMT CBSSJT EF #BEBMPOB #BEBMPOB t &M SFHJEPS EFM 11 B M "KVOUBNFOU EF #BEBMPOB 4BMWBEPS -FSNB IB EFNBOBU RVF T BVHNFOUJ MB QSFTÒODJB QPMJDJBM BMT CBSSJT EF 4BOU 3PD "S UJHBT J &M 3FNFJ B DBVTB EF iMB QSPMJGFSBDJØ EF SPCBUPSJT J BDUFT EFMJDUJVT RVF FTUBO TVDDFJOU B QMFOB MMVN EFM EJBw &O DPODSFU -FSNB IB FY QMJDBU RVF FMT SPCBUPSJT FT QSPEVFJYFO B M JOUFSJPS EFMT IBCJUBUHFT J RVF FT USBmDB J FT DPOTVNFJYFO FTUVQFGBFOUT B MB WJB QÞCMJDB TPCSFUPU FO VO TPMBS EFMT OÞNFSPT
QSPQJFUBSJ MB OFUFKB EF MB [POB EF GPSNB VSHFOU J MB NJMMPSB EF MFT CBSSFSFT QFS JNQFEJS M BDDÏT BM TPMBS &O BRVFTU NBUFJY TFOUJU T IB QSPOVODJBU FM SFHJEPS .JRVFM +VSBEP QFM RVF GB BMT CBSSJT EF -B 4BMVU J -MFmË 6 O E F M T F Y F N Q M F T E F M BCBOEPOBNFOU RVF IBO QP TBU FMT QPQVMBST FT USPCB BM DBSSFS $BMEFSØO EF MB #BSDB +VSBEP FYJHFJY BM HPWFSO NF TVSFT EF TFHVSFUBU DPOUSPM EFMT DBSSFST QFS FWJUBS RVF iFT DPOWFSUFJYFO FO VO BCP DBEPSw
t &M 11 EFOÞODJB MB EFJYBEFTB NVOJDJQBM BM DBSSFS $BMEFSØO EF MB #BSDB
EF M "WJOHVEB .BSRVÒT EF .POUSPJH &MT QPQVMBST SFDMBNFO RVF FM HPWFSO NVOJDJQBM SFRVFJYJ BM
&3$ EF 5JBOB EFOVODJB iUSBÕEPSJB J OPDUVSOJUBUw FO MB UBMB E BSCSFT E VO TPMBS 5JBOB t &M SFHJEPS E &TRVFSSB 3FQVCMJDBOB B M "KVOUBNFOU EF 5JBOB +PSEJ (PTU IB DB SSFHBU DPOUSB FM HPWFSO NVOJ DJQBM QFS BDUVBS BNC iUSBÕEPSB J OPDUVSOJUBUw QFS MB UBMB E VOT BSCSFT FO VO TPMBS RVF T FTUË
1PMÓUJDB JOEE
WP M H V U E F J Y BS D P O T U Ë O D J B E BRVFTU GFU iBMNFOZT QFSRVÒ UPUIPN TËQJHB RVJOB ÏT MB QP MÓUJDB SFBM EF GFUT DPOTVNBUT EF M BDUVBM FRVJQ EF HPWFSOw GPSNBU QFS (FOU QFM 1SPHSÏT J $J6
IBCJMJUBOU QFS B VOB OPWB FT DPMB (PTU DSFV RVF iBRVFTU BMDBMEF UBOU AFDPMPHJTUB T IB DBSSFHBU UPUT FMT BSCSFT RVF IJ IBWJB J IP IB GFU FO QMF NFT E BHPTUw &M SFHJEPS B M PQPTJDJØ IB
727 %DGDORQD
1MBOUJMMB#BTF JOEE
727 %DGDORQD
DFWXDOLWDW
SHUVRQHV
$BSMFT 5PSOFSP
.FSDÒ 3JVT SFHJEPSB EF .FEJ "NCJFOU EF M "KVOUBNFOU EF #BEBMPOB
i&M 1POU EFM 1FUSPMJ DPOUJOVBSË PCSJOU TF MFT IPSFT EFM EJBw
"RVFTU IB FTUBU FM QSJNFS FTUJV FO RVÒ #BEBMPOB IB QPHVU HBVEJS EFM OPV QBTTFJH EFM 1POU EFM 1FUSPMJ TFOTF EVCUF MB HSBO OPWFUBU EFM MJUPSBM CBEBMPOÓ E BRVFTU BOZ $PN B UPUB KPHVJOB OPWB OP IBO FTUBU QPDT FMT RVF IBO USPCBU BMUSFT VTPT BM QBOUBMË FOUSF FMMT VTBS MP DPN B USBNQPMÓ QFS MMFOÎBS TF BM NBS P DPN B QMBUBGPSNB QFS QPEFS QFTDBS NJMMPS -FT EVFT DPTFT FTUBO QSPIJCJEFT J KB T IBO BJYFDBU BMHVOFT BDUFT QFS QBSU EF MB (VËSEJB 6SCBOB DPODSFUBNFOU FO FM DBT E BRVFMMT RVF FT MMFODFO B M BJHVB EFT EFM QPOU " CBOEB E BRVFTUFT BOÒDEPUFT FM OPV SFDMBN EFM MJUPSBM CBEBMPOÓ IB FTUBU UPU VO ÒYJU SBØ QFS MB RVBM J TFHPOT FOT FYQMJDB MB SFHJEPSB .FSDÒ 3JVT T PCSJSË UPU M BOZ
1FSTPOFT JOEE
2VJOB WBMPSBDJØ GB E BRVFTU FTUJV BNC FM 1POU EFM 1FUSPMJ 6OB WBMPSBDJØ NPMU QPTJUJWB -B DJVUBU IB HVBOZBU VO FTQBJ QFS QPEFS WFOJS B QBTTFKBS J RVF IB FTUBU NPMU DPODPSSFHVU BM MMBSH E BRVFTU FTUJV ²T VOB E BRVFMMFT DPTFT RVF MB HFOU IB WBMPSBU J RVF FMT BHSBEB FOTFOZBS B MB HFOU EF GPSB
QBTTFHFO &MT QFTDBEPST KB EJTQPTFO EF UPUB MB QMBUKB EVSBOU MB OJU QFS GFS IP "SB RVF QBSMBWB EF M PSEFOBOÎB EF QMBUKB RVF IB FOUSBU FO WJHPS BRVFTU BOZ T IB BDUVBU DPOUSB FMT WFOFEPST BNCVMBOUT P FMT RVF GBO NBTTBUHFT -FT EVFT DPTFT FTUBO QSP IJCJEFT QFSÛ OP UJOD DPOTUËO DJB RVF T IBHJO BJYFDBU BDUFT J UBNQPD IF SFCVU FYDFTTJWFT RVFJYFT - PSEFOBOÎB TÓ IB BDUVBU BNC BRVFMMFT QFSTP OFT EF MB QMBUKB RVF QFTRVFO GPSB EF M IPSBSJ BVUPSJU[BU
)J IBHVU HBJSFT NVMUFT QFS GFS OF VO NBM ÞT )J IBO IBHVU BDUVBDJPOT QP MJDJBMT E VOB CBOEB QFS MB HFOU RVF FT MMFOÎB EFT EFM QPOU J EF M BMUSB QFS MB HFOU RVF IJ QFTDB -FT EVFT DPTFT FTUBO QSP IJCJEFT QFS M PSEFOBOÎB EF DJWJTNF J MB EF QMBUKB )FN EF UFOJS FO DPNQUF RVF MMFOÎBS TF ÏT VO SJTD UBOU QFS MFT QFS TPOFT RVF FT UJSFO DPN QFS MB HFOU RVF QPU FTUBS OFEBOU TPUB FM QPOU 1FM RVF GB B MB QFTDB ÏT J O D P N QBU J C M F R V F I J I BH J QFTDBEPST RVF UJSJO MB DBOZB BNC BRVFMMFT QFSTPOFT RVF
'JOT BSB M PCFSUVSB EFM QPOU FSB VOB QSPWB QJMPU 4 PCSJSË m OBMNFOU UPU M BOZ 7BN DPNFOÎBS PCSJOU MP IPSFT QFS WFVSF DPN GVODJP OBWB $PN OP IJ IBHVU NBTTB BDUFT WBOEËMJDT EF NPNFOU MB JEFB ÏT DPOUJOVBS PCSJOU MP MFT IPSFT UBODBOU MP OPNÏT FO DBTPT EF SJTD QFS UFNQPSBM
727 %DGDORQD
JXLD VHUYHLV
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1*40 &/ 7&/5" &/ --03&%" EF NUST IBCJUBDJPOFT VOB EF FMMBT TVJUF $PDJOB BNQMJB CB ×PT UPEP OVFWP 1BSRVFU DBMFGBD DJØO Z BJSF BDPOEJDJPOBEP "TDFO TPS 13&$*0 7&/5" å 5&- 1"53* 1*40 &/ 7&/5" ;0/" $0-- * 16+0- .¤ GJODB DPO BT DFOTPS IBCJUBDJPOFT EPCMF CB×P EF PSJHFO DPDJOB SFGPSNB EB CBMDØO FYUFSJPS DFSSBEP DPO DBSQJOUFSÓB EF BMVNJOJP 1VFSUBT EF PSJHFO " " DPO CPNCB EF DBMPS DBSQJOUFSÓB EF BMVNJOJP Z TVFMP HSFT (BT DJVEBE 13&$*0 7&/5" å 5&- 1"53* 1-";" 1"3,*/( &/ 7&/5" &/ -" $"--& 4"/ +6"/ %& -" $36; EF #BEBMPOB .FEJEBT 9 NUST 13&$*0 7&/ 5" å 5&- 1"53*
FDPOPNJDT OPVT JOEE
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$"4" &/ 7&/5" 0 "-26* -&3 FO 4BOU $FCSJË EF 7BMMBM UB EF B×PT EF BOUJHàFEBE EF NUST DPOTUSVJEPT NÈT NUST EF KBSEÓO Z NUST EF UFSSFOP IBCJUBDJPOFT CB×PT UFSSB[B QBMB[B HBSB KF USBTUFSP DBMFGBDDJØO CVFO FTUBEP 13&$*0 "-26*-&3 å .&4 13&$*0 7&/ 5" å 5&- 1"53*
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$"4" &/ 7&/5" 0 "-26* -&3 &/ $"--& .*(+03/ #"%"-0/" EF NUST USFT IBCJUBDJPOFT Z VOB CVIBSEJMMB TBMØO DPNFEPS EPT CB×PT NÈT VO BTFP DPDJOB KBSEÓO HBSB KF QBSB EPT DPDIFT USBTUFSP EPT UFSSB[BT QBSB FOUSBS B WJ WJS 13&$*0 7&/5" å 13&$*0 "-26*-&3 å 5&- 1"53*
4& 7&/%& &41&$5"$6-"3 $"4" &/ -" .03&3" B WJFOUPT EF N QBUJPT UFSSB[BT Z TPMBSJVN IBCJUBDJP OFT CB×PT BTFP HBSBKF QJTDJOB CPEFHB $BMFGBDDJØO BJ SF BDPOEJDJPOBEP FUD å *7" "CUÏOHBOTF DVSJPTPT */'0 5&-
727 %DGDORQD
10."3 1JT EF IBC NFOKBEPS FYU B CBMDØ CBOZ J DVJOB FO CPO FTUBU å NFT UPU JODMÛT 5FMT
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FDPOPNJDT OPVT JOEE
"-26*-&3 -0$"- $0.&3 $*"- SFG $FOUSP KVOUP B MB CJCMJPUFDB Z DPMFHJP BQUP UJFOEB EFTQBDIP QSPGFTJPOBM DPOTVMUBT N BOUFT QPEPMPHP 1SFDJP å NFOTVBMFT XXX NFUSPT DVBESBEPT OFU 5&- &4 --0(" 1*4 "- $"33&3 13*. N IBC CBOZT *NQFDBCMF FTUBU å NFT 5&- 1"35*$6-"3 "-26*-" 1-" ;" %& 1"3,*/( &/ 5033&/5 %& #"5--03*" 5JFOF BTDFO TPS .FEJEBT Y 13&$*0 å 5&- 1"53*
$"4"(&.&4 1JT EF N¤ IBC NFOKBEPS EF N¤ FYU B CBMDØ HSBO DBMFGBDDJØ J B D QFS FOUSBS B WJVSF å NFT UPU JO DMÛT 5FMT
1"35*$6-"3 "-26*-" 1-" ;" %& 1"3,*/( &/ 5033&/5 %& #"5--03*" .FEJEBT Y N FO 1MBOUB 13&$*0 å 5&- 1"53*
.03&3" -0$"- %04 1-"/ 5"4 N N D 4 "HVTUÓ DPRVFUPO NVMUQMFT QPTJCMJEBEFT WBEP å NFT 5&-4 QBSUJDVMBS
1"35*$6-"3 "-26*-" 1-" ;" %& 1"3,*/( &/ 5033&/5 %& #"5--03*" &O QSJNFSB QMBOUB .FEJEBT Y 13&$*0 å 5&- 1"53*
4& "-26*-" 1-";" %& 1"3 ,*/( FO $BO $BCB×FT 5&- &4 --0(" 1-"±" %& 1"3 ,*/( B N EFM NFUSP QFQ WFOUVSB QSFV å NFT 5&-
"-26*-&3 1-";" %& 1"3 ,*/( .0504 FO DBMMF UPSSFOU EF CBUMMPSJB 1SFDJP å NPUPT 5&- 1"53*
"-26*-0 )"#*5"$*»/ " 1&3 40/" DPO EFSFDIP B DPDJOB Z CB×P QSJWBEP $FOUSP #BEBMPOB 1SFDJP å NFT BHVB Z MV[ JODMVJEP 5&-
1*40 &/ "-26*-&3 $ 4"/ +6"/ %& -" $36; NUST TJO BTDFOTPS IBCJUBDJPOFT DPNFEPS DPO CBMDØO B MB DBMMF $PDJOB MBWBCP HBT OBUVSB MV[ BHVB 13&$*0 å 5&- 1"53*
"-26*-0 -0$"- &/ "7 16* ('3&% $ EF N . %& 1"5*0 UPEP SFGPSNBEP 5&-
1"35*$6-"3 "-26*-" 1-" ;" %& 1"3,*/( $ --&'*" .FEJEBT Y N JEFBM DPDIF QFRVF×P 13&$*0 å "- .&4 5&- 1"53*
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1-";" %& 1"3,*/( &/ "- 26*-&3 ;0/" $&/530 1MB[B EF QBSLJOH FO BMRVJMFS FO "W 1SFTJEFOU $PNQBOZT 13&$*0 "-26*-&3 å .&4 5&- 1"53*
&4 #64$" -0(01&%" P 14*$¾-0(" QFS DPNQBS UJS EFTQBUY BNC QTJDPMPHVFT E PSJFOUBDJP EJOËNJDB TJUVBU B #BEBMPOB DFOUSF 5&- 1SFHVOUBS QFS "OOB .
1*40 &/ "-26*-&3 &/ -" $"--& +0$4 '-03"-4 %& #"%"-0/" EF NUST IBC NÈT VO WFTUJEPS CB×P DPDJOB SFGPSNBEB QBSRVFU DBMFGBDDJØO BJSF BDPOEJDJPOBEP WFOUBOBT EF BMVNJOJP "TDFOTPS 13&$*0 "-26*-&3 å .&4 5&- 1"53*
1*40 &/ "-26*-&3 USJQMFY D 4FMWB O #BEBMPOB IBC 5&-
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1*40 "-26*-&3 &/ -" $"--& $&37"/5&4 %& #"%"-0/" DFSDB NFUSP 1FQ 7FOUVSB NUST BQSPYJNBEBNFOUF IBCJUB DJPOFT DPDJOB Z CB×P FO QFSGFDUBT DPOEJDJPOFT 4BMPO DPNFEPS CBM DØO B MB DBMMF $FSWBOUFT 13&$*0 "-26*-&3 å 5&- 1"53*
1*40 &/ "-26*-&3 &/ $"--& $&37"/5&4 EF IBCJUBDJPOFT DPNFEPS DPDJOB FRVJQBEB 3FGPS NBEP QFSGFDUP FTUBEP "NVFCMBEP 13&$*0 "-26*-&3 å 5&- 1"53*
1*40 &/ "-26*-&3 $"--& --& '*® %& #"%"-0/" NUST IBCJUBDJPOFT DPNFEPS DPDJOB MBWBEFSP CBMDØO SFGPSNBEP "T DFOTPS 13&$*0 "-26*-&3 å 5&- 1"53*
-0$"- "-26*-&3 &/ #"%"-0 /" DBMMF $FSWBOUFT EF NUST EF TVQFSmDJF Z BEFNÈT JODMVZF VO QF RVF×P BMNBDÏO BQUP QBSB DVBMRVJFS OFHPDJP 13&$*0 "-26*-&3 å 5&- 1"53* -0$"- &/ "-26*-&3 &/ #"%" -0/" DBMMF 4BOUB #ÈSCBSB EF NUST NUST EF OBWF UPUBMNFOUF EJÈGBOB DPO BMUJMMP Z SFTUP PmDJOBT &OUSBEB QBSB WFIÓDVMPT BMUVSB IBTUB NUST 1VFSUB JOEFQFOEJFOUF FOUSB EB B PmDJOBT $POTUB EF VO MBWBCP Z VO QBUJP "QUP BMNBDÏO 13&$*0 "-26*-&3 å 5&- 1"53*
1*40 &/ "-26*-&3 &/ $".* 4"/5 +&30/* %& -" .6353" FO #BEBMPOB EF NUST IBCJUB DJPOFT CB×P DPDJOB MBWBEFSP BJSF BDPOEJDJPOBEP DBMFGBDDJØO NVZ MVNJOPTP #JFO DPOTFSWBEP "T DFOTPS 13&$*0 "-26*-&3 å 5&- 1"53* --03&%" 3FG QJTP IBC %PCMFT SFGPSNBEP BTDFOTPS CBMDPO BNQMJP TBMPO CB×PT BNVFCMBEP DPO FMFDUSPEPNFTUJDPT å 5&- --03&%" 3FG QJTP IBC . SFGPSNB BDUVBM TVFMPT QBSLFU BTDFOTPS DBMFG (BT OBUVSBM BNVF CMBEP DPO FMFDUSPEPNFTUJDPT å NFT 5&-
1*40 &/ "-26*-&3 &/ -" $"--& +04$ '-03"-4 &OUMP EF NUST UJFOF IBCJUBDJPOFT HSBO TBMØO DPNFEPS DPDJOB MBWBCP 13&$*0 "-26*-&3 å 5&- 1"53*
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1*40 "-26*-&3 &/ "7 "-'0/ 40 9*** DFSDB NFUSP +VBO 99*** 1JTP EF NUST BQSPYJNBEBNFOUF EPT IBCJUBDJPOFT Z VOB QFRVF×B $PDJOB Z CB×P SFGPSNBEPT BJSF BDPOEJDJP OBEP BTDFOTPS 5JFOF UPEPT MPT TFS WJDJPT 13&$*0 "-26*-&3 å 5&- 1"53* 4"/50 $3*450 3FG QJTP IBCJUBDJPOFT BTDFOTPS SFGPSNBEP N DBMFGBDDJPO HBT OBUVSBM Z BBDD å 5&-
4*453&--4 3FG o QJTP IB CJUBDJPOFT N SFGPSNBEP QMBOUB CBKB å å 5&- #"$ %& 30%" 3FG o QJTP N IBCJUBDJPOFT BTDFOTPS CBMDØO BNVFCMBEP DPO FMFDUSPEP NFTUJDPT BM MBEP NFUSP å 5&-
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727 %DGDORQD
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