TOT Badalona 1394

/ÞNFSP %FM BM EhPDUVCSF A

&TQBJ$

-B EBOTB SFHOB FM ;PSSJMMB BRVFTU DBQ EF TFUNBOB

"DUVBMJUBU

3PCB VOB QMBOUB EF NBSJIVBOB EF USFT NFUSFT J RVFEB EFUJOHVU RVBO WPMJB NBSYBS BNC BVUPCÞT

3FQPSUBUHF

- "TTPDJBDJØ 4PDJBM "NJDT EFM (PSH .BS EFTCPSEBEB QFS MB EFNBOEB E BMJNFOUT

1PMÓUJDB

&M $' #BEBMPOB T IBVSË E BDPOUFOUBS BNC VO DBNQ NÏT QFUJU

-B 3BNCMB BDVMM BRVFTU DBQ EF TFUNBOB MB 'JSB EF MB 4PMJEBSJUBU

"NC WFV QSÛQJB +PBO 4PMFS J "NJHØ J %PMPST 4BCBUFS

(SBPOT EF M FTHMÏTJB EF 4BOU B NBSJB ESFUT +PBO 4FSSBOP +PTFQ 7JBOB J 'SBODJTDP 4PMF EVSBOU M BOZ 'PUP 'SBODJTDP 4PMF

1PSUBEB JOEE

%h&OUSBEB

+PBO &OSJD 1BTUPS EFM HSVQ E BSRVJUFDUFT EF +PSOFU -MPQ 1BTUPS

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

(SBPOT EF M FTHMÏTJB EF 4BOU B NBSJB ESFUT +PBO 4FSSBOP +PTFQ 7JBOB J 'SBODJTDP 4PMF EVSBOU M BOZ 'PUP $FEJEB 'SBODJTDP 4PMF 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

0$56#3& %& -0$63" 7*4$0&-«45*$0 $"/"1² 10-*1*&-

Ã¥

9 å 9 å

9

Ã¥

30%6 4 1

$504 5

04 0% /

"º04 ("3"/5*"

4530 6&

9 å 9 å

$"/"1² ."%&3"

$&3&;0 0 8&/(6&

Ã¥

-«5&9 "35*$6-"%0

7*4$0&-«45*$0 9 å 7*4$0&-«45*$0 9 å

Ã¥

&-²$53*$04 7*4$0&-«45*$04

Ã¥

$ 3PTFMMØO #"%"-0/"

*7" : 53"/41035&4 */$-6*%04 "35¶$6-04 %& %&4$"/40 3PTTFMMP /PV JOEE

1*&;"4 %& &416." $035"%"4 " .&%*%"

DFWXDOLWDW

G HQWUDGD

i7PMFN RVF M *MMB $FOUSBM OP TJHVJ OPNÏT VO MMPD EF QBT TJOØ VO FTQBJ PO GFS IJ BDUJWJUBUT DJVUBEBOFTw # B E B M P O B t 6 O F M F N F O U UBOU CBEBMPOÓ DPN FM CBEJV o BRVFMMT QBUJT JOUFSJPST UBO UÓQJDT EFMT IBCJUBUHFT EF QMBO UB CBJYB EF MB DJVUBU o TFSË M FJY DFOUSBM EF MB QMBÎB EF M *MMB $FOUSBM 6OB QMBÎB PO B NÏT BSSJCBSË FM NFUSP IJ IBVSË VO QËSRVJOH QFS NÏT EF WFIJDMFT J VO FEJmDJ EF NFUSFT RVBESBUT VOFT USFT WFHBEFT M BDUVBM 7J WFS - BMDBMEF +PSEJ 4FSSB GFJB QÞCMJD RVF FM OPN EF M FTUBDJØ TFSË #BEBMPOB 1PNQFV 'B CSB EPOBOU SFTQPTUB BJYÓ B MFT SFJWJOEJDBDJPOT E VO HSVQ EF DJVUBEBOT &ODBSB RVFEB QFS EFmOJS FM OPN EF MB GVUVSB QMBÎB UPU J

%&OUSBEB JOEE

RVF TFNCMB EFTDBSUBU FM OPN QPQVMBS EF $BO 'SBEFSB &M FODBSB USJHBSFN B TBCFS ÏT M FRVJQBNFOU RVF T IJ VCJDBSË FO BRVFTU HSBO FEJGJDJ &MT BSRVJUFDUFT IBO EJTTFOZBU VO CMPD BNC EPT WPMVNT PO IJ IBVSË VO NJSBEPS QÞCMJD - PQPTJDJØ E *$7 &6J" IB QSP QPTBU JOTUBMtMBS IJ FM .VTFV EF 4PDJFUBU QFSÛ M BMDBMEF NBOUÏ FM NJTUFSJ /PNÏT IB BDMBSJU RVF FT CVTDBSË VO FRVJQBNFOU E JNQPS UËODJB EJOT M ®SFB .FUSPQPMJUBOB P mOT J UPU FO M ËNCJU OBDJPOBM 4FSSB KB IB BWBOÎBU RVF OP IJ IB QSFTTB QFS EFDJEJS IP J RVF MB QMBÎB FT DPOTUSVJSË JOEF QFOEFOUNFOU EF M FEJmDJ 'JOT

J UPU FT QBSMB E BOZT QFS EFT DPCSJS FM GVUVS EF M FEJmDJ &M RVF TÓ IB FYQMJDBU M BSRVJUFDUF CBEBMPOÓ +PBO &OSJD 1BT UPS B MB SFWJTUB &M 5PU ÏT RVF MB QMBÎB RVF DPNFOÎBSË B TFS VOB SFBMJUBU BM OP TFSË OPNÏT VO MMPD EF QBT TJOØ UBNCÏ VO FTQBJ PO GFS IJ BDUJWJUBUT DJVUBEBOFT &MM ÏT M ÞOJD CBEBMPOÓ EF M FRVJQ E BSRVJUFDUFT +PSOFU -MPQ 1BT UPS RVF IB HVBOZBU FM DPODVST EF M *MMB $FOUSBM 2VÒ DSFJFV RVF VT IB GFU HVBOZBEPST 7PMFN DSFVSF RVF ÏT MB WFSEPS BNC VOB WBSJFUBU E FTQÒDJFT QPD WJTUB FO VO QBSD 727 %DGDORQD

DFWXDOLWDW

$BSMFT 5PSOFSP SFEBDDJP!FMUPUEJHJUBM DPN

5SPCB UPUFT MFT OPUÓDJFT B XXX FMUPUEJHJUBM DPN

t &TRVFSSB QSPQPTUB EF +PSOFU -MPQ 1BTUPS RVF IB HVBOZBU FM DPODVST E JEFFT %SFUB +PSOFU -MPQ 1BTUPS FMM ÏT M ÞOJD BSRVJUFDUF CBEBMPOÓ EF M FRVJQ RVF IB HVBOZBU ²T VO QSPKFDUF RVF MJ GB NPMUB JMtMVTJØ

/P QPEJB TFS TJOØ VO CBEBMPOÓ RVJ QFOTÏT FO VO CBEJV QFS B M *MMB $FOUSBM )B FTUBU VOB JNBUHF RVF IFN GFU TFSWJS B M IPSB EF EFm OJS MFT QMBOUBDJPOT EF MB QMBÎB /PTBMUSFT QSPQPTFN VOB RVB SBOUFOB E FTQÒDJFT EJGFSFOUT J CBSSFKBEFT DPN TJ IBHVFTTJO BSSFODBU MFT UBORVFT EFMT BOUJDT CBEJVT RVF IJ IBWJB 4 BKVOUBSBO YJQSFST BNC MMJ NPOFST BNC QBMNFSFT WB KB VOB KBSEJOFSJB NÏT EPNÒT UJDB RVF OP T VTB FO FMT QBSD EF HSBOT FOWFSHBEVSB ²T EPODT VOB BQPTUB DMBSB QFM WFSE 4Ó FSB VOB QSFNJTTB QFSRVÒ TBCFN RVF #BEBMPOB FTUË NBODBEB EF WFSE J BRVFTUT FT QBJT E PNCSB TØO NPMU BHSBÕUT )J IB VO SFQFSUPSJ NPMU BNQMJ E FTQÒDJFT J BJYÛ SFRVFSJSË EF QBDJÒODJB QFSRVÒ FMT KBSEJOT OP FT GBO FO EPT EJFT TJOØ BM MMBSH EFMT BOZT ²T B EJS RVF SFTVMUBU USJHBSË B WFVSF T "SB CÏ B CBOEB EF MB WFSEPS ÏT 727 %DGDORQD

%&OUSBEB JOEE

VOB QMBÎB QBSD J TBCFN RVF UJOESË VO ÞT JOUFOTJV J BJYÛ SFRVFSFJY VOT QBWJNFOUT EVST J USFQJUKBCMFT $PN B NÓOJN FM WPMÓFN RVF GPT UPWB J MB SFTUB TFSË MMBNCPSEB RVF QFSNFU VO ÞT JOUFOTJV EF QFS TPOFT J WFIJDMFT

EJGFSFOUT QBWJNFOUT FO RVÒ FT DPOUFNQMB MB DFMFCSBDJØ EF DPODFSUT BDUVBDJPOT EF HFHBOUT P BDUFT DJVUBEBOT FO HFOFSBM 1BSMFN EF M FEJm DJ 4ØO NFUSFT RVBESBUT "JYÛ ÏT NPMU OP 4Ó )FN QSPQPTBU VO FEJm DJ USFODBU FO EPT WPMVNT RVF QFSNFUJ EJGFSFOUT VTPT QÞ CMJDT J QSJWBUT * T BQSPm UB MB DPOEJDJØ BMUB EF M FEJm DJ DPN B NJSBEPS QFS HBVEJS EF MB DJVUBU

5BNCÏ IJ IBVSË MMPDT QFS EFTDBOTBS 5JOESFN TPSSBMT QFSRVÒ QV HVJO KVHBS MFT DSJBUVSFT J NP CJMJBSJ BEJFOU QFSRVÒ UJOHVJ NPMUFT BDUJWJUBUT EJGFSFOUT BNC FTQBJT QFS FYFNQMF QFS B MB QFUBODB QFS BMT KPDT JOGBOUJMT FUD 7PMFN RVF QV HVJ TFS VUJMJU[BEB OP OPNÏT DPN B MMPD EF QBT TJOØ UBNCÏ QFS GFS IJ BDUFT B M BJSF MMJVSF BDUJWJUBUT DJVUBEBOFT FO HF OFSBM * UBNCÏ IFN QSPQPTBU VO FTQBJ EF HFTQB QFS TFVSF T BM EBNVOU

$PN T JOUFHSB MB QBSBEB EF NFUSP -FT TPS UJEFT KB FOT WÏOFO E P O B E F T J M B T P S U J E B E F M BQBSDBNFOU UBNCÏ /PTBM USFT QSPQPTFN VO USBDUBNFOU E BRVFTUFT TPSUJEFT QFS EJGF SFODJBS MFT E BMUSFT TPSUJEFT NÏT DPOWFODJPOBMT BNC VOT FMFNFOUT EF WJESF J QSPQPTFN RVF RVBO FT GBDJ M FEJm DJ IJ IBHJ DPOOFYJØ EJSFDUB FOUSF BRVFTU J FM NFUSP

"JYÓ FT QPESBO GFS DPODFSUT %JOT MB QMBÎB IJ IB NJDSP QMB DFT BNC EJGFSFOUT NJEFT J

DFWXDOLWDW

DFWXDOLWDW

$BSMFT $BSWBKBM SFEBDDJP!FMUPUEJHJUBM DPN

3PCB VOB QMBOUB EF NBSJIVBOB EF USFT NFUSFT J RVFEB EFUJOHVU RVBO WPMJB NBSYBS BNC BVUPCÞT $BOZFU t $VSJØT SPCBUPSJ B #BEBMPOB -B (VËSEJB 6SCBOB EF MB DJVUBU WB EFUFOJS MB TFU NBOB QBTTBEB VO KPWF RVF BDBCBWB EF SPCBS VOB QMBOUB EF NBSJIVBOB EF USFT NFUSFT E BMUVSB FO VOB DBTB EFM CBSSJ EF $BOZFU -B QPMJDJB CBEBMPOJOB FM WB EFUFOJS RVBO TPSUJB E VOB DBTB J BOBWB B CVTDBS M BVUPCÞT QFS NBSYBS EFTQSÏT E PCTFSWBS RVF TBMUBWB VO NVS J FOUSBWB EJOT E VO KBSEÓ QSJWBU "MT QP MJDJFT SËQJEBNFOU FMT WB DSJEBS M BUFODJØ VOB HSBO QMBOUB EF QSPQ EF USFT NFUSFT E BMUVSB RVF FM QSFTVNQUF MMBESF KB UFOJB QSFQBSBEB BM DBSSFS QFS FOEVS TF BNC FMM -B JOUFO

DJØ EFM QSFTVNQUF MMBESF FSB USBOTQPSUBS MB BNC BVUPCÞT -B (VËSEJB 6SCBOB WB DP NJTTBS MB QMBOUB J WB EFUFOJS BM KPWF RVF IPSFT EFTQSÒT WB RVFEBS FO MMJCFSUBU BNC DËSSFDT 1BSBMtMFMBNFOU FT WB DPNV OJDBS FM SPCBUPSJ BM QSPQJFUBSJ EF MB DBTB PO FT USPCBWB MB QMBOUB RVF TFHPOT GPOUT QP MJDJBMT UÏ VOB BVUPSJU[BDJØ QFS UFOJS NBSJIVBOB QFS RàFTUJPOT EF TBMVU &M KPWF QSFTVNQUF BVUPS EFM SPCBUPSJ WB TFS JNQVUBU QFS VO EFMJDUF EF SPCBUPSJ J FMM NBUFJY WB SFDPOÒJYFS FM EFMJDUF &M DBT IB RVFEBU QFOEFOU EF KVEJDJ

t -B QMBOUB EF NBSJIVBOB WB TFS USBTMMBEB B MB DPNJTTBSJB EF MB (VËSEJB 6SCBOB EF #BEBMPOB

&M TFUNBOBSJ #BEBMPOB DFMFCSB FM TFV WJOUÒ BOJWFSTBSJ #BEBMPOB t &M TFUNBOBSJ JO EFQFOEFOU E JOGPSNBDJØ #B EBMPOB BDBCB EF DFMF CSBS FM TFV WJOUÒ BOJWFSTBSJ -B QVCMJDBDJØ MPDBM EJSJHJEB QFS +PTFQ 'FSOÈOEF[ 5FKF EPS WB QVCMJDBS MB QBTTBEB TFUNBOB VOB FEJDJØ FTQFDJBM QFS DFMFCSBS M BOJWFSTBSJ "D UVBMNFOU FM TFUNBOBSJ &M 5PU

BNC BOZT E IJTUÛSJB J FM #BEBMPOB BNC TØO MFT QVCMJDBDJPOT MPDBMT NÏT WFUFSBOFT %FT EFM 5PU WPMFN GFMJDJUBS BMT OPTUSFT DPNQBOZT EFM TFUNBOBSJ #BEBMPOB J EFTJUKBS MPT NPMUFT QËHJOFT E ÒYJUT

7DPEÉ ÉV QRWÍFLD - "TTPDJBDJØ EF WFÕOT EF %BMU MB 7JMB QSPQPTB DSFBS VOB [POB WFSEB

- FNQSFTB .FOBSJOJ USFV $BO 3VUJ DFMFCSBSË VOB DVSTB QFS EPOBS MB DBSB QFS BM NFSDBU VO OPV GËSNBD MB 4JEB

- FOUJUBU WFÕOBM EFM CBSSJ EF %BMU MB 7JMB IB FODFUBU VOB DBNQBO ZB QFS SFDMBNBS B M BENJOJTUSBDJØ RVF T JOTUBVSJ VOB [POB WFSEB E BQBSDBNFOU B EJWFSTPT DB SSFST EFM CBSSJ 1FS BRVFTU NPUJV EVSBOU FMT EBSSFST EJFT T IBO QFOKBU EJWFSTPT DBSUFMMT BM CBSSJ QFS EFNBOBS BMT WFÕOT MB TFWB PQJOJØ - BTTPDJBDJØ EF WFÕOT QPESJB QSPQPTBS BRVFTUB ËSFB EF QBHBNFOU QFSÛ BNC QSJWJ MFHJT QFS BMT WFÕOT EF MB [POB JHVBM DPN QBTTB FO BMHVOFT [POFT EF #BSDFMPOB

"RVFTU EJVNFOHF E PDUVCSF TF DFMFCSBSË BMT WPMUBOUT EF $BO 3VUJ MB QSJNFSB DVSTB QPQVMBS %POFN MB DBSB QFS MB 4JEB -B DVSTB GPSNB QBSU EF MB DBNQBO ZB PSHBOJU[BEB QFS MB 'VOEBDJØ -MVJUB DPOUSB MB 4JEB J UÏ DPN B PCKFDUJVT BVHNFOUBS MB DPOT DJFODJBDJØ QÞCMJDB FOWFST FM 7*) 4JEB DPNCBUSF M FTUJHNB TPDJBM RVF FODBSB M BDPNQBOZB J DBQUBS GPOT QFS BMT QSPKFDUFT EF SFDFSDB EF MB 'VOEBDJØ -B DVSTB DPOTUBSË EF EJWFSTPT SFDPSSFHVUT

"DUVBMJUBU JOEE

- FNQSFTB CBEBMPOJOB -BCP SBUPSJT .FOBSJOJ IB MMBOÎBU BM NFSDBU VO OPV GËSNBD QFS NJMMPSBS FM USBDUBNFOU EF MB IJQFSUFOTJØ BSUFSJBM "NC FM OPN EF #BM[BL FM OPV NFEJ DBNFOU QPU NJMMPSBS MB WJEB EFM NBMBMU FO UPUT FMT QSPDFTTPT EF MB NBMBMUJB %FT EFMT -BCPSBUPSJT .FOBSJ OJ TJUVBUT BM CBSSJ CBEBMPOÓ EF 4BOU 3PD FT EFEJDB NÏT E VO EF MB TFWB QSPEVDDJØ EF NFEJDBNFOUT B NJMMPSBS FM DPOUSPM EF MFT NBMBMUJFT DBS EJPWBTDVMBST

727 %DGDORQD

ĂĚĂůŽŶĂ ĞŶƚƌŽ jůƟŵŽƐ ϯ ƉŝƐŽƐ Ă ĐŽƐƚΦ

DĠŶĚĞnj EƷŹĞnj

sŝǀŝĞŶĚĂƐ ĚĞ ĐƵĂƚƌŽ ŚĂďŝƚĂĐŝŽŶĞƐ ĚŽƐ ďĂŹŽƐ ĐŽŵƉůĞƚŽƐ ĞdžĐĞůĞŶƚĞƐ ĂĐĂďĂĚŽƐ

͋/ŶĐƌĞŝďůĞ ĐŽŵƉĂƌĂŶĚŽ ƉƌĞĐŝŽͬĐĂůŝĚĂĚͬƵďŝĐĂĐŝſŶ͊

ZĞĂůŝŵĂƌ͘ĞƐ ϲϳϴ ϳϭ ϰϰ ϰϰ ͻ ϵϯ ϰϱϮ ϳϱ ϭϱ 3FBMJNBS JOEE

DFWXDOLWDW

DFWXDOLWDW #BEBMPOB EJTQPTBSË EF OPWFT QMBDFT HFSJËUSJRVFT FO FMT QSPQFST RVBUSF BOZT

t &O BRVFTU TPMBS EFM DBSSFS %JQÛTJU EF MB .PSFSB FT DPOTUSVJSË VOB OPWB SFTJEÒODJB &M 5PU

#BEBMPOB t -B DJVUBU EJTQP TBSË FO NFOZT EF RVBUSF BOZT EF OPWFT QMBDFT EF SFTJEÒODJB QFS B HFOU HSBO - "KVOUBNFOU EF #BEBMPOB BNC DPMtMBCPSBDJØ BNC MB (F OFSBMJUBU EF $BUBMVOZB IB DFEJU RVBUSF UFSSFOZT B EJGFSFOUT CB SSJT PO T IJ DPOTUSVJSBO RVBUSF SFTJEFODJFT OPWFT QFS B HFOU HSBO % BRVFTUFT USFT UBNCÏ EJTQPTBSBO EF QMBDFT EF EJB &MT OPVT FRVJQBNFOUT FTUBSBO TJUVBUT BMT CBSSJT EF MB .PSFSB -B 4BMVU .POUJHBMË J -MFGJË "NC BRVFTUFT OPWFT SFTJEÒO DJFT MB DJVUBU HVBOZBSË HBJSFCÏ

QMBDFT J VO DFOUFOBS QFS B QMBDFT EF EJB &M DPOWFOJ FO USF M "KVOUBNFOU EF #BEBMPOB MB (FOFSBMJUBU EF $BUBMVOZB J FNQSFTFT QSJWBEFT IB QFSNÒT BRVFTU BVHNFOU EF QMBDFT J MB DPOTUSVDDJØ EF OPWFT SFTJEFO DJFT MB TJUVBEB BM 1BSD EF MFT .VOUBOZFUFT FTUBSË DPOTUSVÕEB EVSBOU M BOZ 5SBTMMBU EF MB HFOU HSBO EF MB SFTJEFODJB 1FSF $BOÏ % BMUSB CBOEB FMT SFTJEFOUT RVF BDUVBMNFOU WJVFO B MB SFTJ EÒODJB QÞCMJDB J NVOJDJQBM QFS B HFOU HSBO 1FSF $BOÏ EFM DBSSFS

(FOFSBM 8FZMFS FTUË QSFWJTU RVF FT USBTMMBEJO EVSBOU MB TFHP OB RVJO[FOB EFM NFT E PDUVCSF B MFT OPWFT JOTUBMtMBDJPOT EF MB SFTJEÒODJB RVF FM (SVQ #BMMFTPM IB DPOTUSVÕU B M BWJOHVEB EF /BWBSSB -B EFDJTJØ QFS QBSU EF M "KVOUBNFOU EF #BEBMPOB EF QSPDFEJS B BRVFTU USBTMMBU T IB QSFT UFOJOU FO DPNQUF FM GFU RVF M BDUVBM DPOUSBDUF EF MMPHVFS EF M FEJmDJ RVF PDVQB MB SFTJEÒODJB mOBMJU[B M BOZ RVF WF J RVF FM (SVQ #BMMFTPM IB DPODFSUBU EF MFT QMBDFT EF MB OPWB SFTJEÒODJB BNC MB (FOFSBMJUBU

#BEBMPOB JOBVHVSBSË FM NFT EF OPWFNCSF VO OPV DPNQMFY FTQPSUJV

- "KVOUBNFOU NJMMPSB VOB QMBÎB EF #VGBMË EFTQSÒT EF MFT RVFJYFT WFÕOBMT

/FJY VOB DBNQBOZB B JOUFSOFU FO DPOUSB EFM QFBUHF EF MB #

-FT PCSFT EF MB [POB FTQPSUJWB $BO $BCBOZFT FTUBO DPNQMJOU FM DBMFOEBSJ QSFWJTU EF NBOFSB RVF FM QSPQFS NFT EF OPWFNCSF #BEBMPOB EJTQPTBSË E VO OPV DPNQMFY FTQPSUJV RVF DPOTUBSË E VO DBNQ EF GVUCPM QJTUFT QP MJFTQPSUJWFT QJTUFT EF QFUBODB J VO FEJmDJ RVF BMMPUKBSË FMT WFTUJ EPST VO NBHBU[FN EF NBUFSJBM FTQPSUJV MPDBMT TPDJBMT J VO CBS &M QSPKFDUF TVQPTBSË UBNCÏ MB VSCBOJU[BDJØ EF M FOUPSO EF MB OPWB [POB FTQPSUJWB

&MT WFÕOT EF MB 1MBÎB .BSJB "V SÒMJB $BNQBOZ EF #VGBMË IBO NBOJGFTUBU FM TFV NBMFTUBS B M "KVOUBNFOU QFSRVÒ TPMVDJPOJ FMT QSPCMFNFT EF EFHSBEBDJØ RVF TFHPOT EJVFO QBUFJY MB QMBÎB &MT WFÕOT UBNCÏ IBO QFOKBU QBODBS UFT BMT TFVT CBMDPOT PO IBO EFOVODJBU MB DSFJYFOU JOTFHVSFUBU RVF QBUFJY MB [POB 1FS MB TFWB CBOEB M "KVOUBNFOU IB DPNFOÎBU B SFBMJU[BS NJMMPSFT B MB QMBÎB J TFHPOT IB BOVODJBU BMT WFÕOT

-B QPTTJCJMJUBU RVF MB OPWB DB SSFUFSB # RVF VOFJY #BEB MPOB J .PMMFU TJHVJ EF QFBUHF IB BJYFDBU UPU UJQVT EF SFBDDJPOT UBOU QPMÓUJRVFT DPN TPDJBMT &M CBEBMPOÓ +BVNF -MFBM RVF WB DSFBS MB DBNQBOZB EF M BDDFOU EFM .ËHJD IB DSFBU VOB QËHJOB BM 'BDFCPPL QFS EFNBOBS MB HSBUVÕUBU E BRVFTUB OPWB WJB %F NPNFOU NÏT EF QFSTPOFT T IBO BGFHJU B MB QËHJOB EFM 'BDF CPPL RVF QPSUB QFS OPN i# TFOTF QFBUHFTw

7DPEÉ ÉV QRWÍFLD

"DUVBMJUBU JOEE

727 %DGDORQD

- BOUJD FTDPSYBEPS EF 5JBOB TFSË DPOWFSUJU FO VO DFOUSF DÓWJD J DVMUVSBM 5JBOB t - BOUJD FTDPSYBEPS EF 5JBOB TFSË B QSJODJQJT EF M BOZ VO HSBO DFOUSF DÓWJD J DVM UVSBM - "KVOUBNFOU EF 5JBOB IB JOJDJBU VO QSPKFDUF QFSRVÒ M BOUJD FTDPSYBEPS FT DPOWFSUFJYJ FO VO HSBO FRVJQBNFOU PO UPUIPN IJ UJOHVJ DBCVEB - BKVOUBNFOU UJBOFOD IB QSPQPTBU VO EFCBU TPCSF M BWBOUQSPKFDUF E BRVFTU OPV DFOUSF QFSRVÒ UPUIPN J QV HVJ EJS MB TFWB -B TFWB SFGPSNB J BEFRVBDJØ UJOESË EVFT GBTFT -B QSJNFSB EF SFGPSNB J MB TF HPOB EF OPWB DSFBDJØ - BMDBMEF EF 5JBOB &NJMJ .V×P[ BTTF

DFWXDOLWDW

$BSMFT $BSWBKBM SFEBDDJP!FMUPUEJHJUBM DPN

5SPCB UPUFT MFT OPUÓDJFT B XXX FMUPUEJHJUBM DPN

DFOUSF EF SFGFSÒODJB TPDJBM QFS B UPUT FMT HSVQT E FEBU J QFS B EJGFSFOUT JOUFSFTTPT GPSNBUJVT J TPDJBMT VO FTQBJ HFOFSBEPS E JEFOUJGJDBDJØ EF MFT QFSTP OFT BNC MB DPNVOJUBU MPDBM J E JNQVMT EF MB SFMBDJØ J EF MB DPOWJWÒODJB JOUFSHFOFSBDJPOBM J FO EFmOJUJWB VO SFDVST EF DFOUSBMJUBU QFS B M BSUJDVMBDJØ TP DJBM EF 5JBOBw - BWBOUQSPKFDUF EF M FRVJQBNFOU JEFBU QFS M FTUVEJ "MPOTP #BMBHVFS QFS NFU EFTFOWPMVQBS MP FO EVFT GBTFT BSRVJUFDUÛOJDBNFOU CFO EJGFSFODJBEFT

t *NBUHF WJSUVBM EF DPN TFSË FM OPV DFOUSF DÓWJD

HVSB RVF BRVFTU DFOUSF DÓWJD J DVMUVSBM iUJOESË FO FM QPCMF EF 5JBOB MB GVODJØ E FTEFWFOJS VO

%FOVODJFO FM NBM FTUBU EFM QPMJFTQPSUJV EFM 1VJHGSFE

/FJY VO OPV QPSUBM EF OPUJDJFT EF #BEBMPOB

#BEBMPOB t 7FÕOT EFMT CBSSJT EF .POUJHBMË J 1VJHGSFE IBO NBOJGFTUBU MB TFWB QSFPDVQBDJØ QFM NBM FTUBU EFM QPMJFTQPSUJV TJUVBU B MB 3BNCMB EF 'SBOÎB 4FHPOT FMT WFÕOT FM QPMJFT QPSUJV FEJmDBU BSB GB EPT BOZT QSFTFOUB VOB NBODB EF NBOUF OJNFOU J WJHJMËODJB 6O EFMT BT QFDUFT RVF NÏT QSFPDVQB BMT WFÕOT J VTVBSJT EF MB JOTUBMtMBDJØ FTQPSUJWB ÏT M BVHNFOU EFM WBO EBMJTNF B M JOUFSJPS EFM QPMJFT

QPSUJV "RVFTUB EFHSBEBDJØ TFHPOT FMT WFÕOT IB FTUBU DPNVOJDBEB B M "KVOUBNFOU

"NC MB JEFB E JOGPSNBS EF #BEB MPOB EF NBOFSB QMVSBM J SJHPSPTB VO HSVQ EF KPWFT QFSJPEJTUFT CBEBMPOJOT IBO DSFBU VO OPV NJUKB EF DPNVOJDBDJØ MPDBM &T USBDUB EFM XFC i#BEBOPUJTw RVF OFJY BNC MB JOUFODJØ EF TFS VO FTQBJ JOGPSNBUJV J JOUFSBDUJV BNC FMT MFDUPST &M XFC EJTQPTB EF EJWFSTPT FTQBJT DPN MFT OPUÓ DJFT E PDJ P M FOUSFWJTUB J PGFSFJY MB QPTTJCJMJUBU EF DPNFOUBS MFT OPUÓDJFT < > CBEBOPUJT DPN

"UVSBEFT B M *&4 1PNQFV 'BCSB QFS EFNBOBS NÏT QSPGFTTPST

%FNBOFO MB TFOZBMJU[BDJØ E VOB JMMFUB EFM USËOTJU B $BOZFU

1SPKFDUF QFS DSFBS NÏT PDVQBDJØ J FNQSFTFT TPDJBMT BM #BSDFMPOÒT /PSE

&MT EPDFOUT EF M JOTUJUVU 1PN QFV 'BCSB TJUVBU BM CBSSJ EF #VGBMË IBO SFDMBNBU QÞCMJDB NFOU MB NBODB EF QSPGFTTPSBU EVSBOU BRVFTU DVST FTDPMBS 1FS BRVFTU NPUJV EVSBOU FMT EBSSFST EJFT T IBO SFBMJU[BU iTVTQFOTJPOT UÒDOJRVFTw EF MFT QSËDUJRVFT FTDPMBST FO TFOZBM EF QSPUFTUB QFS MB GBMUB EF TFHVSFUBU FO MFT DMBTTFT B GBMUB EF QFSTPOBM 5PU J BJYÛ TFHPOT MB EJSFDDJØ EFM JOTUJUVU CBEBMPOÓ 1PNQFV 'BCSB FT USBDUB E VO GFU QVOUVBM

7FÕOT EFM CBSSJ EF $BOZFU IBO EFNBOBU B M "KVOUBNFOU MB JOTUBMtMBDJØ E VOB TFOZBMJU [BDJØ B MB JMMFUB TJUVBEB B MB $BSSFUFSB EF $BOZFU % BMUSB CBOEB FM SFHJEPS EFM (SVQ 1PQVMBS B M "KVOUBNFOU EF #BEBMPOB .JHVFM +VSBEP UBN CÏ IB SFDMBNBU B M FRVJQ EF (PWFSO RVF DPOEJDJPOJ BEF RVBEBNFOU M FOUPSO E BRVFTUB JMMFUB SFDFOUNFOU DPOTUSVÕEB B MB $BSSFUFSB EF $BOZFU J RVF QSFTFOUB QSPCMFNFT QFS B MB TFHVSFUBU EFM USËOTJU

-B %JQVUBDJØ mOBOÎBSË VO QSP KFDUF QFS MB DSFBDJØ EF MMPDT EF USFCBMM SFMBDJPOBUT BNC M BUFODJØ TPDJBM BM #BSDFMPOÒT /PSE - PSHBOJTNF JOWFSUJSË NÏT E VO NJMJØ J NJH E FVSPT FO FMBCPSBS VO FTUVEJ RVF QFSNFUJ EFUFDUBS MFT OFDFTTJUBUT EFM TFDUPS B #B EBMPOB 4BOUB $PMPNB J 4BOU "ESJË PO QPTUFSJPSNFOU EFT QMFHBSË FM QSPKFDUF - BDUVBDJØ BOJSË EFTUJOBEB B JNQVMTBS MB JO TFSDJØ MBCPSBM J BGBWPSJS MB DSFBDJØ E PDVQBDJØ FO FM TFDUPS EFMT TFS WFJT E BUFODJØ B MFT QFSTPOFT

7DPEÉ ÉV QRWÍFLD

727 %DGDORQD

"DUVBMJUBU JOEE

RSLQLÓ

DPE YHX SUÒSLD "CBOT EF DBQJUBMJUBU OPSNBMJUBU %PMPST 4BCBUFS IUUQ CMPDT NFTWJMBXFC DBU NJP[[

4J VT EJD RVF UJOD VO TPNOJ QFS B MB #BEBMPOB EF MB DBQJUBMJUBU EF MB DVMUVSB DBUBMBOB QPU TFS QFOTBSFV RVF GBCVMP 1FSÛ QBSMBS EF TPNOJT OP UÏ QFSRVÒ TFS GBOUBTJØT &M %FQBSUBNFOU E FEVDBDJØ QFS QBSMBS E VO FYFNQMF TFSJØT QSPNPV o FO USF E BMUSFT VOB NFUPEPMPHJB EF USFCBMM RVF DPNQSPNFU UPUB MB DPNVOJUBU FEVDBUJWB E VO DFO USF FO M PCKFDUJV E BDPOTFHVJS NÏT ÒYJU QFS B UPUIPN ÏT VOB NFUPEPMPHJB SFDPOFHVEB JOUFS OBDJPOBMNFOU JNQVMTBEB QFS VOJWFSTJUBUT T BOPNFOB $PNV OJUBUT E "QSFOFOUBUHF J T JOJDJB BNC VO 40./* DPNVOJUBSJ FO RVÒ FMT NFNCSFT EFM DFOUSF GBNÓMJFT BMVNOBU QSPGFTTPSBU QFSTPOBM OP EPDFOU FYQSFT TFO RVJOB TFSJB M FTDPMB JEFBM TJ FTUFT B MFT TFWFT NBOT GFS MB QPTTJCMF J DPODSFUFO QSJPSJUBUT J FT QPTFO NBOT B MB GFJOB &O NPMUT DPOUFYUPT QBSMBS EF TPNOJT

BDDFTTJCMFT FO UPUT FMT TFOUJUT DPNFOÎBOU QFMT $FOUSFT $ÓWJDT J BDBCBOU QFS MFT TFVT E FOUJUBUT J BTTPDJBDJPOT DÓWJRVFT QFS PGFSJS QSPEVDUFT RVF BSB OP FYJT UFJYFO QSPHSBNBDJØ FTUBCMF EF DJOFNB FO DBUBMË DFOUSFT EF DSFBDJØ J FYQFSJNFOUBDJØ BMUBWFV QFS BMT NÞTJDT J DSFBEPST MPDBMT FUD QFS PGFSJS VOB QSPHSBNBDJØ E BSUT FTDÒOJRVFT BM UFBUSF NV OJDJQBM OPSNBMJU[BEB NPMU NÏT ËNQMJB OP OPNÏT VOB TFTTJØ E VOB PCSB FO IPSBSJT EJWFSTPT QFS RVÒ OP IJ QPU IBWFS UFBUSF FMT EJVNFOHFT B MB UBSEB RVF BSSJCJ BM QÞCMJD EF UPUB MB DJVUBU J BNC VOB DPNQSB E FOUSBEFT GËDJM QFS B UPUIPN 5BNCÏ QBTTB QFS UFOJS FTUSVDUVSFT QBSUJDJQBUJWFT JOUFSHFOFSBDJPOBMT FM $POTF MM EF $VMUVSB MB $PNJTTJØ EF 'FTUFT MB 5BVMB EF $VMUVSB QFS EJTQPTBS E VOB BHFOEB EF DJV UBU JODMVTJWB QFS GFS VO DFOT E BSUJTUFT CBEBMPOJOT EF UPUFT MFT EJTDJQMJOFT

BMIPSB EF QMBOUFKBS QSPKFDUFT QPU TFNCMBS E VO SPNBOUJDJTNF VOB NJDB JMtMÞT QFSÛ FO BRVFTU DBT TFNCMB TFS RVF FM NÒUPEF GVO DJPOB BNC FmDËDJB * GB CFO QPD QFS QBSMBS E VO BMUSF FYFNQMF TFSJØT 0CBNB WB UPSOBS B QPTBS FO DJSDVMBDJØ FO FM MMFOHVBUHF QPMÓUJD M FYQSFTTJØ UFOJS VO TPNOJ &M NFV TPNOJ ÏT RVF #BEBMPOB BCBOT EF TFS FYDFQDJPOBM QFS QP EFS TF NPTUSBS DPN B $BQJUBM EF MB $VMUVSB $BUBMBOB TJHVJ TPCSFUPU DVMUVSBMNFOU OPSNBM "JYÛ WPM EJS RVF FTTFOU VOB DJVUBU EF NÏT EF IBCJUBOUT HBVEFJYJ E VOB QPMÓUJDB DVMUVSBM DMBSB CBTBEB FO MB QBSUJDJQBDJØ MB QMBOJmDBDJØ MB QSPNPDJØ EF MB DVMUVSB DPN B FJOB CËTJDB EF EFTFOWPMVQBNFOU IVNË PGFSFJYJ EF GPSNB IBCJUVBM J B M BCBTU EF UPUT FMT TFVT DJVUB EBOT VOB QSPHSBNBDJØ DVMUVSBM FTUBCMF BNC VOB PGFSUB EF RVB MJUBU EJWFSTJUBU J RVBOUJUBU BEJFOUT B MB RVBMJUBU EJWFSTJUBU J RVBOUJUBU EF MB TFWB QPCMBDJØ "JYÛ QBTTB QFS UFOJS FRVJQBNFOUT RVF BSB OP IJ TØO BVEJUPSJ TBMFT E BTTBJH QFS B NÞTJDT TBMFT QFS B BSUT QMËTUJRVFT FUD QFS GFS MPT UPUT

)F TPNOJBU RVF DPN RVF TFSFN DBQJUBM BCBOT EF TFS OPSNBMT TFS DBQJUBM FOT BKVEBSË B TFS FO FM GVUVS NÏT OPSNBMT

&TUBDJØ #BEBMPOB 1PNQFV 'BCSB +PBO 4PMFS J "NJHØ

6O CPO OBWFHBOU ÏT FM RVF TBQ HPWFSOBS FM WBJYFMM UFOJOU BUFOFOU FMT WFOUT J FMT DPSSFOUT NBSJOT 6O CPO QPMÓUJD ÏT FM RVF TBQ HPWFSOBS VOB DJVUBU BUFOFOU FMT DPSSFOUT E PQJOJØ DJVUBEBOT - BMDBMEF +PSEJ 4FSSB EFNPTUSB TFS VO CPO OBWFHBOU BMNFOZT FO MB USBWFTTJB EF EPOBS OPN B M FTUBDJØ EF NFUSP EF MB MÓOJB PO BWJBU BSSJCBSË FM GFSSPDBSSJM NFUSPQPMJUË - BMDBMEF BNC UPU M FRVJQ EF HPWFSO IB FTDPMUBU J BUÒT MB QSPQPTUB E VOB DPMMB E JOTUJUVDJPOT FOUJUBUT J DJVUB EBOT DBUBMBOT J CBEBMPOJOT RVF M FTUBDJØ T BOPNFOJ #BEBMP OB 1PNQFV 'BCSB "JYÓ IP IB EFDMBSBU 4FSSB BMT NJUKBOT EF DPNVOJDBDJØ J BJYÓ USBOTNFUSË MB QSPQPTUB B M "VUPSJUBU EFM 5SBOT QPSU .FUSPQPMJUË "5.

0QJOJP JOEE

BNC FM OPN EFM .FTUSF iPSEFOB EPS EF MB MMFOHVB DBUBMBOBw QFSÛ B DBQ IJ FODBJYB UBO EF QMF DPN B #BEBMPOB /P TPMT FMT CBEB MPOJOT IPOPSFN 1PNQFV 'BCSB TJOØ RVF ÏT 1PNQFV 'BCSB RVJ IPOPSB FMT CBEBMPOJOT &M QBT TFHàFOU TFSË EPOBS OPN B MB QMBÎB "MDBMEF 9JGSÏ TFSË VO OPN BEJFOU M BMDBMEF NËSUJS BGVTFMMBU QFM SÒHJN GSBORVJTUB OPNÏT QFS IBWFS FTUBU BMDBMEF EF MB DJVUBU J SFQVCMJDË * F O D BS B R V F E BS Ë V O Q B T NÏT BRVFTU QFSÛ VSCBOÓTUJD M FJYBNQMBNFOU J MB EJHOJmDBDJØ EFM DBSSFS EF 'SBODFTD -BZSFU BMNFOZT EFT EF MB OPWB QMBÎB mOT B MB QMBÎB EF MB 7JMB 6O DPQ VSCBOJU[BEB KB OP IJ IBVSË SBØ QFS NBOUFOJS MP UBO EFJYBU DPN BSB i$BOUBSËw UBOU RVF TFSË VOB FYJHÒODJB JOFYDVTBCMF 5PU WJOESË % FOUSBEB EPODT FM OPN EF #BEBMPOB 1PNQFV 'BCSB B M FTUBDJØ EF NFUSP ÏT VO CPO DPNFOÎBNFOU

"NC BRVFTUB EFDJTJØ FM HPWFSO NVOJDJQBM IB FYQSFTTBU FM TFV SFDPOFJYFNFOU B MB CBEBMPOJUBU EF 1PNQFV 'BCSB RVF WB WJVSF B MB OPTUSB DJVUBU EFT EF BM HF OFS EF KVTU BCBOT RVF MFT USPQFT GSBORVJTUFT IJ FOUSFTTJO iUSJPNGBMNFOUw 'BCSB WB FMBCPSBS FM %JDDJPOBSJ (FOFSBM EF MB -MFO HVB $BUBMBOB B #BEBMPOB $BQ NÏT DJVUBU OP TF O QPU HMPSJBS 1FS BJYÛ FM OPTUSF "KVOUBNFOU M BOZ WB OPNFOBS MP mMM QSFEJMFD UF J MJ WB DPODFEJS MB .FEBMMB E 0S EF MB $JVUBU 1FS BJYÛ BRVFTU HFTU EF M "MDBMEF 4FSSB KVTU BOZT EFTQSÏT WF B TVCSBUMMBS BRVFTU SFDPOFJYFNFOU JOTUJUVDJPOBM &M OPN EF #BEBMPOB 1PNQFV 'B CSB EFJYBSË DPOTUËODJB E BRVFTU GFU QFSRVÒ UPUIPN OP TPMT FMT EF GPSB RVF CBJYBSBO B BRVFTUB QBSBEB TJOØ FMT CBEBMPOJOT RVF IJ QVKBSFN IP SFDPSEFN .PMUFT WJMFT J DJVUBUT DBUBMBOFT UFOFO DB SSFST J QMBDFT J FTDPMFT J JOTUJUVUT J CJCMJPUFRVFT J DFOUSFT DVMUVSBMT

727 %DGDORQD

1MBOUJMMB#BTF JOEE

727 %DGDORQD

DFWXDOLWDW

3ROÍWLFD &M $' #BEBMPOB T IBVSË E BDPOUFOUBS BNC VO DBNQ NÏT QFUJU #BEBMPOB t &M 11 EF #BEBMP OB OP WB TPSUJS HBJSF DPOUFOU EFM 1MF &YUSBPSEJOBSJ RVF WB GPSÎBS QFS QBSMBS EFM DPOWF OJ TJHOBU M BOZ FOUSF M "KVOUBNFOU J FM $' #BEBMP OB TFHPOT FM RVBM FM HPWFSO FT DPNQSPNFUJB B DPOTUSVJS VO OPV FTUBEJ EF GVUCPM B .PO UJHBMË QBHBSJB BM DMVC EF GVUCPM FVSPT BOVBMT EVSBOU BOZT FO DPODFQUF EF NBOUFOJNFOU EF M FTUBEJ J MJ DFEJB FM DBNQ EF MB .PSFSB 5PU QMFHBU FM HPWFSO IP IB WJB EF GFS TFOTF UPDBS MFT BSRVFT NVOJDJQBMT KB RVF IP mOBOÎBWB BNC MFT QMVTWËMVFT EF M PQFSBDJØ VSCBOÓTUJDB B M "WJOHVEB EF /BWBSSB PO BSB FT USPCB FM DBNQ BDUVBM EFM #BEBMPOB 9BWJFS (BSDÓB "M CJPM QSFTJEFOU EFM 11 B #BEB MPOB WB SFDMBNBS B M BMDBMEF RVF FYQMJRVÏT DPN FT QBHBSË BSB FM OPV DBNQ RVBO RVBTJ MB NFJUBU EFMT UFSSFOZT EF M "WJOHVEB EF /BWBSSB T IB WFOVU B M *.14¾- (BSDÓB "MCJPM WB EFNBOBS RVF T IBWJB iE JOWBMJEBSw FM DPOWF OJ EF RVF TFHPOT FMT QPQVMBST WB JNQPTBS MPT FM

t "RVFTU FSB M BNCJDJØT QSPKFDUF EF %PNJOJRVF 1FSSBVMU QFS BM GVUVS FTUBEJ EFM $' #BEBMPOB

&M 1SJNFS 5JOFOU E "MDBMEF 'FSSBO 'BMDØ $J6 WB DPO GJSNBS RVF iFM QSPKFDUF EF 1FSSBVMU OP FT QPU GFSw %FT EF M BMUSF QBSUJU B M PQPTJDJØ *$7 &6J" $BSMFT 4BHVÏT WB EPOBS QFS iNPSUw M BDUVBM DPOWFOJ J WB NPTUSBS MB TFWB WPMVOUBU EF TVNBS TF B VO OPV BDPSE BNC FM $' #BEBMP OB TJ FT EPOFO MFT DPOEJDJPOT EF EJËMFH J USBOTQBSÒODJB 'JOBMNFOU FM OPV DBNQ EFM #BEBMPOB B M "WJOHVEB EFMT 7FOUT EF .POUJHBMË TFSË QFS B VOT FTQFDUBEPST NÏT QFUJU RVF FM QSPKFDUF PSJ HJOBM EFM QSFTUJHJØT BSRVJUFDUF %PNJOJRVF 1FSSBVMU

QSFTJEFOU EFM DMVC EF GVUCPM 'FSNÓO $BTRVFUF iB DBOWJ EF DPNQSBS MB QBV EJOT EFM 14$w 1FS B (BSDÓB "MCJPM $BTRVF UF iÏT FM WFSJUBCMF QPEFS B M PNCSB EFM 14$w J iRVJ QPTB J USFV SFHJEPST J BMDBMEFT B MFT MMJTUFT TPDJBMJTUFTw %FT EFM HPWFSO UBOU 14$ $J6 DPN &3$ WBO FTUBS E BDPSE FO RVÒ FM DPOWFOJ KB OP UÏ TFOUJU J T IB E BEFRVBS B M BDUVBM TJUVBDJØ FDPOÛNJDB - BMDBMEF FM TPDJBMJTUB +PSEJ 4FSSB WB FYQMJDBS RVF FT GBSË VO FTUBEJ iNÏT CBSBU FM RVF QVHVFN GFS BSB FM RVF QV HVFN QBHBS J KB M BNQMJBSFN EFTQSÏTw

&M QMF EF .POUHBU SFCVUKB EPOBS TVQPSU B MFT DPOTVMUFT E JOEFQFOEÒODJB .POUHBU t &3$ EF .POUHBU WB QSFTFOUBS FO FM QBTTBU QMF VOB NPDJØ EF TVQPS U B MFT DPOTVMUFT QPQVMBST QFS B MB JOEFQFOEÒODJB DPN MB RVF FT WB DFMFCSBS B "SFOZT EF .VOU &M QBSUJU JOEFQFOEFOUJTUB JOTUBWB M "KVOUBNFOU B GFMJDJ UBS BMT SFQSFTFOUBOUT QPMÓUJDT J PSHBOJU[BEPST EF MB DPOTVMUB QPQVMBS E "SFOZT EF .VOU J B DPPQFSBS BNC MFT JOJDJBUJWFT QPQVMBST RVF QPHVFTTJO TPSHJS B .POUHBU &O FM QMF EF EJKPVT QBTTBU QFSÛ UBOU FMT TPDJT EF HPWFSO 14$ J *$7 &6J" DPN FMT QBSUJUT B M PQPTJDJØ $J6 J 11

1PMÓUJDB JOEE

WBO WPUBS FO DPOUSB EF MB NPDJØ E &3$ 4PDJBMJTUFT J QPQVMBST WBO FYQMJDBS RVF MB QSPQPTUB FTUË GPSB EF MFT DPNQFUÒO DJFT MPDBMT J FMT FDPTPDJBMJTUFT WBO BSHVNFOUBS FM TFV WPU FO DPOUSB BEEVJOU RVF FT DSFFO GBMTFT FTQFSBODFT - BMUSF QBSUJU DBUBMBOJTUB $J6 UBNCÏ T IJ WB PQPTBS QFS DPOTJEFSBS RVF &3$ GFJB VOB iBQSPQJBDJØ QBS UJEJTUBw EF MB DPOTVMUB

WB QSFTFOUBS VOB NPDJØ QFS EPOBS TVQPSU B MB DPOTVMUB E "SFOZT iDPN VO TBMVEBCMF FYFSDJDJ EF EFNPDSËDJB PCFSU B MB QBSUJDJQBDJØ EF MB DJVUB EBOJB E BRVFTU NVOJDJQJw J FO DPSBUKBWB B BDUVBS BNC MMJCFS UBU BMT BKVOUBNFOUT E BMUSFT NVOJDJQJT RVF FT QMBOUFHJO MB SFBMJU[BDJØ EF DPOTVMUFT TJNJMBS T (FOU E F 5JBOB J $J6 TPDJT EFM HPWFSO MPDBM WBO WPUBS B GBWPS J TPDJBMJTUFT T IJ WBO BCTUFOJS -B TFTTJØ QMFOËSJB FT WB DFMFCSBS EJFT BCBOT EF MB DPOTVMUB E "SFOZT EF .VOU

5JBOB TÓ WB BQSPWBS VOB NPDJØ 5JBOB t &O FM QMF EFM QBTTBU EF TFUFNCSF &3$ EF 5JBOB

727 %DGDORQD

&3$ FT QSFQBSB QFS B MFT NVOJDJQBMT TFOTF VO DBOEJEBU DMBS #BEBMPOB t -B OPWB &3$ EF #BEBMPOB WPM NJMMPSBS MB DPNVOJDBDJØ BNC MB DJVUBEB OJB J GFS BSSJCBS E VOB NBOFSB NÏT EJSFDUB FM TFV NJTTBUHF B MB NJMJUËODJB "JYÓ IP IB EJU FM OPV QSFTJEFOU EFM QBSUJU .JRVFM &TUSVDI "NC BRVFTUB JEFB FM QBSUJU JOEFQFOEFOUJTUB DPNFOÎB B QSFQBSBS MFT QSP QFSFT FMFDDJPOT NVOJDJQBMT EF 6OFT FMFD D JPOT PO FT KV HVFO NPMU EFTQSÏT EF QFS ESF VO EFMT EPT SFHJEPST B M "KVOUBNFOU EF #BEBMPOB BMT QBTTBUT DPNJDJT MPDBMT 4J QFSEFO NÏT WPUT FMT SF QVCMJDBOT QPESJFO EFTBQB SÒJYFS EFM DPOTJTUPSJ CBEBMPOÓ EFTQSÏT EF UPSOBS IJ M BOZ BNC +BVNF 7JWFT DPN B DBOEJEBU &TUSVDI FTUË DPO WFOÎVU RVF &3$ iUJOESË B MFT NVOJDJQBMT FM NJMMPS SFTVMUBU EFT EF MB EFNPDSËDJBw QFSÛ MB DBSSFSB QFS BSSJCBS BM QBTTB QFS MB USJB E VO DBOEJ EBU "CBOT EF NPSJS FM SFHJEPS +BVNF 7JWFT KB T IBWJFO GFU FWJEFOUT MFT EJTDSFQËODJFT FOUSF FM QBSUJU J FM HSVQ NV OJDJQBM EFM RVBM KB GPSNBWB QBSU .BUFV $IBMNFUB 5SFT OPNT TPOFO QFS PDVQBS FM OÞNFSP EF MB MMJTUB E &3$

DFWXDOLWDW

$BSMFT 5PSOFSP SFEBDDJP!FMUPUEJHJUBM DPN

5SPCB UPUFT MFT OPUÓDJFT B XXX FMUPUEJHJUBM DPN

t .BUFV $IBMNFUB WB KVSBS FM TFV DËSSFD EF SFHJEPS J WB IPNFOBUKBS +BVNF 7JWFT FO VO EJTDVST MMBSHBNFOU PWBDJPOBU

.BUFV $IBMNFUB o RVF KVHBSË BNC M BWBOUBUHF EF EPOBS TF B DPOÒJYFS DPN B OPV SFHJEPS EF $VMUVSB o FM QSPQJ .JRVFM &TUSVDI J 6SJFM #FS USBO TJ QFSE FM TFV MMPD EF EJQVUBU BM 1BSMBNFOU EFTQSÏT EF MFT FMFDDJPOT BVUPOÛNJRVFT

6O FNPDJPOBU $IBMNFUB WB UFOJS QBSBVMFT E BHSBÕNFOU QFS MB EFEJDBDJØ EFM TFV QSF EFDFTTPS iBNC NPEÒTUJB SFTTFHVJSÏ MFT TFWFT QFUKB EFT BNC IVNJMJUBU QFSTFHVJSÏ MB TFWB FTUFMBw - BMD BMEF +PSEJ 4FSSB WB EPOBS MB CFOWJOHVEB BM OPV SFHJEPS J WB RVBMJmDBS MP DPN iVO IPNF EF TFOZ TFOTBU QSËDUJD J CPO HFTUPSw &M EJ QVUBU 6SJFM #FSUSBO J FM OPV QSFTJEFOU E &3$ .JRVFM &T USVDI WBO WPMFS FTUË BM DPTUBU EF $IBMNFUB FO FM EJB EFM TFV OPNFOBNFOU PmDJBM

$IBMNFUB BDDFQUB FM iMMFHBUw EF 7JWFT &M 1MF &YUSBPSEJOBSJ QFS OP NFOBS .BUFV $IBMNFUB DPN B OPV SFHJEPS EF $VMUVSB EF M "KVOUBNFOU FT WB DPOWFSUJS FO VO TFOUJU IPNFOBUHF BM EFTBQBSFHVU +BVNF 7JWFT

-B OPWB EJSFDDJØ E *$7 SFOPWB MB DPOmBOÎB FO $BSMFT 4BHVÏT DPN B DBOEJEBU #BEBMPOB t "RVFTU QBTTBU EJTTBCUF *OJDJBUJWB QFS $B UBMVOZB 7FSET WB DFMFCSBS MB DPOGFSÒODJB MPDBM QFS NBSDBS MFT MÓOJFT FTUSBUÒHJRVFT EF DBSB B MFT FMFDDJPOT MPDBMT EF ®MFY .B×BT WB TFS SFFTDPMMJU DPN B QSFTJEFOU J FT WB SFOPWBS MB EJSFDDJØ GPSNBEB QFS QFSTPOFT -B OPWB EJ SFDDJØ WB SFOPWBS MB DPOmBOÎB FO $BSMFT 4BHVÏT QFSRVÒ UPSOJ B TFS FM DBOEJEBU B MFT FMFD DJPOT DPN KB WB TFS IP BMT QBTTBUT DPNJDJT EF &M 727 %DGDORQD

1PMÓUJDB JOEE

KVHB #BEBMPOB DPN B UFSDFSB DJVUBU EF $BUBMVOZB 1FS QPTBS MB DJVUBU FO FM NBQB DBUBMË *$7 WB UPSOBS B GFS ÒNGBTJ FO MB OFDFTTJUBU RVF FM .VTFV EF 4PDJFUBU o RVF FOHMPCB FMT NVTFVT E )JTUÛSJB EF $B UBMVOZB E "SRVFPMPHJB J FM E &UOPMPHJB o PDVQJ M FEJmDJ EF M *MMB $FOUSBM &M QSFTJEFOU FDP TPDJBMJTUB UBNCÏ IB EFOVODJBU RVF FM HPWFSO EF #BEBMPOB OP FTUË JOWFSUJOU QSPV FO TFS WFJT TPDJBMT J FO QPMÓUJRVFT E IBCJUBUHF

DBQ EF MMJTUB EF MB DPBMJDJØ BNC &TRVFSSB 6OJEB J "MUFSOBUJWB TF TBCSË QFSÛ BCBOT EF m OBMT E BOZ &MT FJYPT EFM QBSUJU E FTRVFSSFT TF DFOUSFO FO MB DPIFTJØ TPDJBM J UFSSJUPSJBM &O BRVFTU TFOUJU FT WB EFTUBDBS FM QBQFS JNQPSUBOU E *$7 FO MB SFJWJOEJDBDJØ DJVUBEBOB EF GFS EF MB $ VOB WJB JOUFSVS CBOB .B×BT IB FYQSFTTBU FM EFTJH RVF FM QSPQFS HPWFSO EF MB (FOFSBMJUBU TJHVJ VOB NBKPSJB E FTRVFSSFT J MB JN QPSUËODJB RVF FO BRVFTU TFOUJU

DFWXDOLWDW

UHSRUWDWJH

$BSMFT $BSWBKBM SFEBDDJP!FMUPUEJHJUBM DPN

t *NBUHF EF MB 'JSB EF MB 4PMJEBSJUBU EF M BOZ QBTTBU "SYJV

"DUJWJUBUT EF MB 97** 'JSB EF MB 4PMJEBSJUBU B MB 3BNCMB

%JTTBCUF E PDUVCSF I *OBVHVSBDJØ EF MB 'JSB J MB NPTUSB E FOUJUBUT I +PDT EFM NØO J FEVDBUJVT I 1SPKFDDJØ EFM WÓEFP QBSUJDJQBUJV EFMT +PWFT 4PMJEBSJT EF #BEBMPOB I 9FSSBEB EFCBU -B SFTQPOTBCJMJUBU EF UPUT FO FMT 0CKFDUJVT EFM .JMtMFOOJ I $FSDBWJMB BNC FM HSVQ EF UBNCPST BGSJDBOT (PSÏ I 4PQBS EF DVJOFT EFM NØO I "DUVBDJØ EF +BSBOB SVNCB GVTJØ J ,VNBS IJQ IPQ BGSPDVCË %JVNFOHF E PDUVCSF I +PDT EFM NØO J FEVDBUJVT I $FSDBWJMB BNC FM HSVQ EF UBNCPST BGSJDBOT (PSÏ I 1FSGPSNBODF QFS MB $BNQBOZB &YJHFJY EJHOJUBU E "NOJTUJB *OUFSOBDJPOBM "DUPST J BDUSJVT EFM $ÓSDPM $BUÛMJD I "DUVBDJØ EF -PT (BMJOEPT FTQFDUBDMF EF DJSD

&M3FQPSUBUHF JOEE

-B 3BNCMB BDVMM BRVFTU DBQ EF TFUNBOB MB 'JSB EF MB 4PMJEBSJUBU #BEBMPOB t "RVFTUB TFUNBOB MB DJVUBU T FTUË PNQMJOU EF TP MJEBSJUBU &OHVBOZ MB 4FUNBOB EF MB 4PMJEBSJUBU EF #BEBMPOB FTUB EFEJDBEB B MFT YBSYFT TPDJBMT J T IB QSPHSBNBU EJWFS TFT BDUJWJUBUT DPN TFTTJPOT EF DJOFNB P YFSSBEFT "RVFTU NBUFJY EJKPVT UJOESË MMPD VOB FYQMJDBDJØ EF DPOUFT EFM NØO B UPUFT MFT CJCMJPUFRVFT EF #BEBMPOB % BMUSB CBOEB FM $FOUSF $ÓWJD EF %BMU MB 7JMB TFSË M FTDFOBSJ BRVFTU EJWFOESFT B MFT I E VO DPODFSU EFM HSVQ "GSJDB -JWF J FM 3FTUBVSBOU -B 4BSHBO UBOB BDPMMJSË EJWFOESFT B MFT I VOB YFSSBEB TPCSF i&YQF SJÒODJFT EF HVFSSB J JOJDJBUJWFT EF 1BV B #BEBMPOBw &M QMBU GPSU EF MB 4FUNBOB BSSJ CBSË QFSÛ EVSBOU FM DBQ EF TFUNBOB BNC MB 'JSB E FOUJUBUT TPMJEËSJFT B MB 3BNCMB $PN DBEB BOZ EVSBOU MB 'JSB FT QPESBO WFVSF FMT QSPKFDUFT RVF MFT 0/(% EF MB DJVUBU QPSUFO B UFSNF BNC FM TVQPSU NVOJDJQBM 5BNCÏ EVSBOU MB 'JSB IJ IBVSË MB QPTTJCJMJUBU EF EFHVTUBS QSP EVDUFT EF DPNFSÎ KVTU J UBTUBS NFOKBST E BSSFV EFM NØO

"QBSBEPS EF MFT FOUJUBUT TPMJEËSJFT CBEBMPOJOFT -B EJTTFUFOB GJSB EF MB 4PMJ EBSJUBU EF #BEBMPOB PGFSJSË MB QPTTJCJMJUBU EF DPOÒJYFS EF QSPQ VOB USFOUFOB E FOUJUBUT J DPMtMFDUJVT RVF USFCBMMBOU B MB OPTUSB DJVUBU QFS MB TPMJEBSJ UBU &M SFHJEPS EF $JVUBEBOJB J $POWJWÒODJB +PTFQ 1FSB WB EFTUBDBS EVSBOU MB QSFTFOUBDJØ EF MB 4FUNBOB RVF UPU J MB DSJTJ BDUVBM iBRVFTU BOZ DPOTPMJEFN BRVFTUB BQPTUB J NJMMPSFN RVB MJUBUJWBNFOU FMT DPOUJOHVUT UPU J MB DPOUFODJØ EF MB EFTQFTBw &M SFHJEPS UBNCÏ WB EFTUB DBS RVF FM UFNB RVF DFOUSB M BUFODJØ EF MB 4FUNBOB EF MB 4PMJEBSJUBU E FOHVBOZ ÏT FM Ò 0CKFDUJV EF %FTFOWPMVQBNFOU EFM .JMtMFOOJ RVF GB FTNFOU EF MB OFDFTTJUBU EF DPMtMBCPSBS J USFCBMMBS FO YBSYB QFS BWBOÎBS FO FM EFTFOWPMVQBNFOU EFMT QBÕTPT QPCSFT $BM EFTUBDBS RVF FO FM NBSD E BRVFTUB mSB UBNCÏ T IBO QSPHSBNBU BMHV OFT BDUJWJUBUT EF DBJSF MÞEJD DPN M BDUVBDJØ EF -PT (BMJO EPT FM EJVNFOHF E PDUVCSF B MFT IPSFT RVF PGFSJSBO VO FTQFDUBDMF EF DJSD

727 %DGDORQD

//(),¬

0217*$7

//(),¬

$SDUWDPHQWR P 727$/ 0(17( $08(%/$'2 FRQ KDE GREOH EDxR \ FRFLQD VDOyQ GH P FDOHIDF /,672 3$5$ 9,9,5 $/48,/(5 ¼

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

320$5

&21*5e6

3LVR -8172 0(5&$'2 GH P HQ ¿QFD FRQ $6&(1625 EDOFyQ D OD FDOOH PXFKD OX] KDE \ WUDVWHUR %LHQ FRPXQLFDGR ¼ 376

-72 3(3 9(1785$

3,62 FRQ KDE GREOHV 5()25 0$'2 VDOyQ P FDOHI DLUH DFRQG ¿QFD FRQ DVFHQVRU -8172 %,%/,27(&$ ¼ 376

3LVR 72'2 (;7(5,25 FRQ KDE 683(5 5()250$'2 DLUH IUtR FDORU DOWXUD UHDO -8172 ,*/(6,$ ¼ 376

%8)$/¬

//25('$

-8172 0$57Ë 38-2/ 3LVR FRQ KDELWDFLRQHV FDOHIDF FLyQ VDOyQ H[WHULRU OLVWR SDUD YLYLU %8(1$ =21$ ¼ 376

/$ 6$/8'

3LVR FRQ $6&(1625 HQ F 5$021 //8// KDE H[WHULRUHV DPXHEODGR \ 5()250$'2 ¼ 376

3LVR HQ *32 9,5*(1 /$ 6$/8' GH KDE 72'2 (;7( 5,25 DOWR \ FRQ DVFHQVRU VDOyQ P FRQ EDOFyQ SUHFLVD UHIRUPDV ¼ 376

672 &5,672

'$/7 /$ 9,/$

3LVR P FRQ KDE 5()250$'2 VDOyQ P FDOH IDF DLUH DFRQG DPXHEODGR ¿QFD FRQ DVFHQVRU ,03(&$%/( ¼ 376

&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(

2&$6,Ï1

3LVR 6(0, 18(92 MXQWR &$1 62/(, KDE 7(55$=$ P SDUNHW SDUNLQJ RSF WRGR H[WHULRU DVFHQVRU ¼ 376

7,$1$

&(175( 3,62 $3$57$0(172 P 7(55$=$ P KDE ¿QFD SRFRV YHFLQRV FRQ DVFHQVRU -8172 & 35,0 ¼ 376

&$1<$'Ï

*25*

& //(),¬

&$6$*(0(6

3LVR 3$5$ (175$5 $ 9,9,5 GH P KDE SDUNHW \ JUHV EDOFyQ PX\ VROHDGR FDOHIDF DLUH DFRQG SDUNLQJ LQFOXLGR ¼ 376

&(175(

7,$1$ 3LVR /,672 3$5$ 9,9,5 GH P K GREOHV EDxR \ FRFLQD UHIRU PDGRV VDOyQ P F VDOLGD D EDOFyQ SDUTXHW \ JUHV FDOHIDF D D DVFHQVRU ¼ 376

QBHJOB JOEE

%8)$/¬

3LVR P 6(0, 18(92 FRQ ]RQD FRPXQLWDULD KDE VXLWWH

DPSOLR EDOFyQ FDOHIDF DLUH DFRQG -8172 3/$<$ ¼ 376

%8)$/¬

È7,&2 FRQ 7(55$=$ P KDE WRWDOPHQWH UHIRUPDGR FDOHIDF SDUNHW \ JUHV $6&(1625 /LVWR SDUD YLYLU ¼ 376 3LVR -8172 6$/(6,$ 126 GH KDE FRFLQD \ EDxR UHIRUP VDOyQ P FRQ EDOFyQ $6&(1625 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

È7,&2 WRGR H[WHULRU WHUUD]DV P \ P KDE FDOHIDF DLUH DFRQG 9,67$6 0$5 0217$f$ WRGR UHIRUPDGR ¼ 376

3LVR 72'2 (;7(5,25 FRQ *5$1'(6 9,67$6 $ 0$5 KDE DQWHV VDOyQ HVWDU P EDOFyQ W]D DOWR \ FRQ DVFHQVRU 376

)5217 0$5Ë7,0

/$ 025(5$

3LVR P KDE FRQ VDOLGD D EDOFyQ FRFLQD \ EDxR VDOyQ P 683(5 =21$ PX\ FHUFD GHO FHQWUR ¼ 376

%8)$/¬

3LVR -8172 &$1 62/(, GH KDE 5()250$'2 EDOFyQ FRQ WROGRV SDUNHW FDOHI \ D DFRQG DVFHQVRU 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

3LVR 72'2 (;7(5,25 MXQWR LJOHVLD KDE 5()250$'2 VDOyQ HQ DPELHQWHV ¿QFD SRFRV YHFLQRV ¼ 376

3LVR P KDE EDxR \ FRFLQD UHIRUPDGRV ODYDGHUR VDOyQ VDOLGD D EDOFyQ DLUH IULR FDORU DVFHQVRU 72'2 (;7(5,25 $08(%/$'2 < &21 (/(&752'20 ¼ 376

%8)$/¬

3LVR P KDE EDxR \ FRFLQD UHIRUPDGRV VDOyQ P F VDOLGD D EDOFyQ VXHOR JUHV FDOHIDF D D DVF /,672 3$5$ (175$5 $ 9,9,5 ¼ 376

727 %DGDORQD

6$17 $'5,¬

&DVD P P SDWLR WHUUD]D KDE GREOHV EDxR \ DVHR VDOyQ P FRQ OODU GH IRF DUP HPSRWUDGRV EXHQD GLVWULEXFLyQ 72'$ (;7(5,25 ¼ 376

6RODU P HGL¿FDEOH -8172 ,1'(3(1'(1&,$ IDFKDGD PWV [ PWV IRQGR SRVLEOH FRQVWUXLU SO EDMD SLVRV DFWXDOPHQWH JDUDMH \ JUDQ SDWLR P ¼ 376

DFWXDOLWDW

UHSRUWDWJH

$BSMFT 5PSOFSP SFEBDDJP!FMUPUEJHJUBM DPN

- "TTPDJBDJØ 4PDJBM "NJDT EFM (PSH .BS EFTCPSEBEB QFS MB EFNBOEB E BMJNFOUT (PSH t $BEB EJWFOESFT BM NBUÓ FM DBSSFS 1POFOU TJUVBU BM CBSSJ EFM (PSH T PNQMF EF EFTFOFT EF QFSTPOFT RVF FTQFSFO SF DPMMJS BMJNFOUT %FT EF GB NÏT EF BOZT M "TTPDJBDJØ 4PDJBM "NJDT EFM (PSH .BS PGFSFJY BRVFTU TFSWFJ TPDJBM J GVODJP OB DPN B CBOD E BMJNFOUT -FT QFSTPOFT RVF BSSJCFO B M FOUJUBU TØO EFSJWBEFT EFMT TFSWFJT TPDJBMT EF MB DJVUBU "NC M BKVEB E BMHVOT NFN CSFT EF 7PMVOUBSJT #BEBMPOB SFQBSUFJYFO DBEB TFUNBOB NÏT EF UPOFT EF NFOKBS "NC MB TJUVBDJØ EF DSJTJ BDUVBM FM OPNCSF EF QFSTPOFT RVF OP UFOFO SFDVSTPT QFS NFOKBS IB BVHNFOUBU DPOTJEFSBCMFNFOU %F GFU FM EJWFOESFT QBTTBU BMHVOFT QFSTPOFT WBO BSSJCBS B MB QPSUB EF M "TTPDJBDJØ B MFT EFM NBUÓ QFS DPNFOÎBS B GFS DVB - FOUJUBU OP PCSF MFT QPSUFT m OT B MFT EFM NBUÓ " M JOUFSJPS EFM MPDBM M BDUJWJUBU EVSBOU FM NBUJ EF EJWFOESFT EJB RVF SFQBSUFJYFO HSBO QBSU EFM NFOKBS B MFT GBNÓMJFT FT GSFOÒUJDB J OP EPOFO M BCBTU QFS SFQBSUJS UPU FM NFOKBS QFSTPOFT BUFTFT FO USFT NFTPT 4FHPOT M FOUJUBU TPDJBM EVSBOU

1FSTPOFT JOEE

FM EBSSFS USJNFTUSF IBO EPOBU EF NFOKBS B HBJSFCÏ QFSTP OFT EF #BEBMPOB -FT GBNÓMJFT RVF TPO BUFTFT B M BTTPDJBDJØ TØO E PSJHFO EJWFST J BSSJCFO EF UPUT FMT CBSSJT EF MB DJVUBU 5PUFT FMMFT QBTTFO QFMT TFS WFJT TPDJBMT BCBOT E PCUFOJS BRVFTUT BMJNFOUT &M QSFTJEFOU EF M FOUJUBU (V[NBO 3PUHFS IB SFDPSEBU RVF UPUFT MFT GBNÓMJFT IBO EF EFNPTUSBS RVF SFBM NFOU OP UFOFO SFDVSTPT QFS QBHBS NFOKBS 3PUHFS IB UPSOBU B GFS VOB DSJEB B MB DJVUBEBOJB EF #BEBMPOB wMFT DPTFT DBEB EJB FTUBO QJUKPS OPTBMUSFT OP WPMFN EJOFST WPMFN NFOKBSw %FT EF M "TTPDJBDJØ CBEBMPOJ OB IBO EFNBOBU CËTJDBNFOU BSSÛT QBTUB MMFHVNT GBSJOB BMJNFOUT TFDT J QSPEVDUFT EF MMBSHB EVSBEB

M &SBEJDBDJØ EF MB QPCSFTB .ÏT EF BOZT BKVEBOU B MFT GBNÓMJFT NÏT OFDFTTJ UBEFT - "TTPDJBDJØ 4PDJBM "NJDT (PSH .BS WB OÏJYFS M BOZ DPN B FTQBJ E BKVEB J TVQPSU B M BTTJTUÒODJB TPDJBM EFM CBSSJ - BOZ FT WB DSFBS M "TTPDJBDJØ EF 7FÕOT RVF FO WB BTTVNJS FM QSPKFDUF UPU J RVF BSB USFCBMMFO QFS TFQBSBU UFOFO BMUSFT JOUFSFTTPT BDMBSFJY 3P HFS QSFTJEFOU EF M FOUJUBU TPDJBM 5PU J UFOJS NÏT EF BOZT J VOB TBMVU EFMJDBEB (V[NBO 3PHFS WJV EJB B EJB J B n PS EF QFMM MFT OFDFTTJUBUT EFMT BMUSFT &M DPO UBDUF EJSFDUF BNC MFT QFSTPOFT RVF NÏT IP OFDFTTJUFO MJ IB QFSNÒT PCUFOJS VO SFUSBU m EFM EF MB QPCSFTB B MB DJVUBU EF #B EBMPOB 3PHFS IB DBMDVMBU RVF FM OPNCSF EF GBNÓMJFT E BRVÓ RVF TPMtMJDJUFO BKVEB T IB JODSF NFOUBU J KB TVQFSB MB GBNÓMJFT EF DJVUBEBOT OPVWJOHVUT 6O DPQ NÏT M FOUJUBU GB VOB DSJEB B MB QBSUJDJQBDJØ QFSRVÒ FM TFV QSPKFDUF QVHVJ GVODJPOBS DPN m OT BSB -FT QFSTPOFT RVF IJ WVMHVJO DPMtMBCPSBS OPNÏT IBO E BQSPQBS T IJ BNC MFT TFWFT BQPSUBDJPOT RVBMTFWPM EJB EF MB TFUNBOB QFM NBUÓ

3FDPMMJEB E BMJNFOUT FO NPUJV EFM %JB *OUFSOBDJPOBM EF M "MJNFOUBDJØ % BMUSB CBOEB M "TTPDJBDJØ 4P DJBM "NJDT EFM (PSH .BS EPOB TVQPSU B MB 'VOEBDJØ #BOD EFMT "MJNFOUT J QFS BRVFTU NPUJV SFBMJU[BSË VOB DBNQBOZB EF SFDPMMJEB E BMJNFOUT EFM BM E PDUVCSF BNC NPUJV EFM %JB .VOEJBM EF M "MJNFOUBDJØ J FM %JB *OUFSOBDJPOBM QFS B

727 %DGDORQD

1MBOUJMMB#BTF JOEE

727 %DGDORQD

DFWXDOLWDW

OD VHWPDQD HQ LPDWJHV

-B 5PSSF $PEJOB BDVMM MB 'FTUB EF MB 7FSFNB EF $BOZFU &M CBSSJ EF $BOZFU IB DFMFCSBU EVSBOU FM QBTTBU DBQ EF TFUNBOB VOB OPWB FEJDJØ EF MB 'FTUB EF MB 7FSFNB &M CBEJV EF MB 5PSSF $PEJOB WB TFS M FTDFOBSJ QFS WFVSF DPN FT GB VOB QSFNTBEB USBEJDJPOBM J GFS VO CPO NPTU -B KPSOBEB WB TFSWJS QFS DFMFCSBS FM WVJUBOUÒ BOJWFSTBSJ EF M BTTPDJBDJØ EF #BTUPOFST EF $BOZFU % BMUSB CBOEB BRVFTU EJVNFOHF E PDUVCSF UJOESË MMPD VOB EFHVTUBDJØ EF DBWB J EF WJ

.ÏT EF DJDMJTUFT QBSUJDJQFO B MB (SBO 1FEBMBEB DPOUSB FM DBOWJ DMJNËUJD %JOT EF MB 4FUNBOB EF MB .PCJMJUBU 4PTUFOJCMF J 4FHVSB RVF WB UFOJS MMPD EVSBOU MB TFUNBOB QBTTBEB EJVNFOHF WB UFOJS MMPD MB (SBO 1FEBMBEB QPQVMBS DPOUSB FM DBOWJ DMJNËUJD .ÏT EF QFSTPOFT WBO QBSUJDJQBS IJ J WBO SFDØSSFS FMT DBSSFST EF #BEBMPOB 4BOU "ESJË EF #FTÛT J 4BOUB $PMPNB EF (SBNFOFU

4 JOTUBMtMFO FMT QSJNFST DPOUFOJEPST TPUFSSBUT B MB QMBUKB CBEBMPOJOB -B QMBUKB EF MB #BSDB .BSJB ÏT MB QSJNFSB EF M &TUBU RVF UÏ DPOUFOJEPST TPUFSSBUT &M QSPKFDUF T IB QPTBU FO NBSYB DPN VOB QSPWB QJMPU QFS BWBMVBS FM GVODJPOBNFOU E BRVFTU OPV TJTUFNB QFOTBU FTQFDJBMNFOU QFS B QMBUHFT BNC VO BMU OJWFMM E PDVQBDJØ &MT DPOUFOJEPST RVF T IBO JOTUBMtMBU TØO SFBMNFOU EVFT HSBOT QBQFSFSFT EF QPMJFUJMÒ DPNQMFUBNFOU IFSNÒUJRVFT

&M KVHBEPS EF CËTRVFU "MMFO *WFSTPO WB QBTTBS QFS #BEBMPOB &M KVHBEPS EF .FNQIJT (SJ[[MJFT "MMFO *WFSTPO WB TFS MB TFUNBOB QBTTBEB B #BEBMPOB QFS BTTJTUJS B MB QSFTFOUBDJØ EF UPUT FMT FRVJQT EFM %,7 +PWFOUVU J WB GFS HBVEJS BNC FM TFV KPD FMT NPMUT BmDJPOBUT RVF FT WBO SFVOJS BM 1BMBV 0MÓNQJD BJYÓ DPN FMT OFOT RVF WBO KVHBS BNC FMM

-B4FUNBOB&O*NBUHFT JOEE

727 %DGDORQD

HVSRUWV &M %,7 +PWFOUVU OP QPU TVQFSBS FM #BSÎB B MB mOBM EF MB -MJHB $BUBMBOB #BEBMPOB t -B 1FOZB OP WB QPEFS TVQFSBS FM 3FHBM ' $ #BS DFMPOB FO FM OÞNFSP EF UÓUPMT EF -MJHB $BUBMBOB EFTQSÏT EF DBVSF B MB mOBM E BRVFTU BOZ BM 1BMBV 4BOU +PSEJ %FTQSÏT E VO CPO QSJNFS RVBSU FMT IPNFT EF 4JUP "MPOTP WBO NPTUSBS VO EFTFODFSU JOTÛMJU EF DBSB B DJTUF MMB UBM DPN NPTUSB FM NBSDBEPS mOBM EF QVOUT 5BNQPD FMT CMBVHSBOB WBO FTUBS NPMU FT QMÒOEJET QFSÛ TÓ RVF NJMMPS RVF

&M .JOJ " EFM +PWFOUVU HVBOZB MB $PQB #BEBMPOB EF .JOJCËTRVFU

MB 1FOZB TVmDJFOU QFS FOEVS TF MB MMJHB DBUBMBOB TFOTF QBUJS "M %,7 MJ WB GBMUBS M BQPSUBDJØ PGFO TJWB EF $MBZ 5VDLFS EFTDPOFHVU FO BRVFTUB PDBTJØ /PNÏT 6SPT 5SJQLPWJD WB SFTQPOESF BDBCBOU BNC DBUPS[F QVOUT $BQ BMUSF KV HBEPS WB TVQFSBS FMT EFV QVOUT % BMUSB CBOEB UPU FM QSJNFS FRVJQ EF MB 1FOZB BM DPNQMFU FTUB SFB MJU[BOU EVSBOU BRVFTUB TFUNBOB MB TFHPOB DPODFOUSBDJØ EF QSF UFNQPSBEB B #BMBHVFS

t &M NJOJ B EFM +PWFOUVU FT QSPDMBNB DPN B HVBOZBEPS EF MB $PQB #BEBMPOB

- FRVJQ .JOJ " EFM $MVC +PWFO UVU #BEBMPOB WB EJTQVUBS FM DBQ EF TFUNBOB QBTTBU VOB OPWB FEJDJØ EF MB $PQB #B EBMPOB VO UPSOFJH RVF BDVMM FMT FRVJQT EF NJOJCËTRVFU EF MB DJVUBU - FRVJQ RVF FOUSFOB 8JMMZ WB TFS NPMU TVQFSJPS J FT WB QSP DMBNBS DBNQJØ FO WÒODFS B MB mOBM B M FRVJQ EFMT .BSJTUFT "EFNBS QFS B

&M #BEBMPOB HVBOZB GPSB EF DBTB EBWBOU FM 4BCBEFMM #BEBMPOB t &M #BEBMPOB WB BDPOTFHVJS EJVNFOHF QBTT BU VOB JNQPSUBOU WJDUÛSJB RVF FM EFJYB GPSB EF MB [POB EF EFTDFOT &MT FTDBQVMBUT TØO M FRVJQ RVF NÏT HPMT IBO FO DBJYBU EF MB DBUFHPSJB QFS BJYÛ .BOPMP (PO[ÈMF[ WB SFGPSÎBS

MB EFGFOTB BNC USFT DFOUSBMT J EPT MBUFSBMT NPMU PGFOTJVT %V SBOU FM QBSUJU BNC FM 4BCBEFMM FMT CBEBMPOJOT WBO FTUBS NPMU CFO QPTJDJPOBUT &M HPM EF MB WJDUÛSJB WB BSSJCBS EVSBOU MB TFHPOB QBSU HSËDJFT B VO YVU EF 7ÓDUPS

5*"/"

7&/5" 1*404 0#3" /07"

5FM 888 -(.4" $0.

727 %DGDORQD

QBH JOEE

ĂĚĂůŽŶĂ :ŽƌĚŝ ^ĞƌƌĂ͗ ͞ Ɛ ƵŶ ĞŶĐĞƌƚ ƋƵĞ ů͛/ůůĂ

KĐƚƵďƌĞ ĚĞ ϮϬϬϵ

ĞŶƚƌĂů ƐŝŐƵŝ ƵŶĂ ƉůĂĕĂ ǀĞƌĚĂ ŝ ŶŽ ĚƵƌĂ͟ ĞƐƉƌĠƐ ĚĞ ů͛ĞƐƚŝƵ͕ ŚĂ ĂƌƌĞŶĐĂƚ ƵŶ ŶŽƵ ĐƵƌƐ ƉŽůşƚŝĐ Ăŵď ďŽŶĞƐ ŶŽơĐŝĞƐ ƉĞƌ Ă ĂĚĂůŽŶĂ͘ >Ă ƉƌŝŶͲ ĐŝƉĂů͕ ĞŶƚƌĞ ĚΖĂůƚƌĞƐ͕ ƋƵĞ ũĂ ƚĞŶŝŵ ƉƌŽũĞĐƚĞ ŐƵĂŶLJĂĚŽƌ Ě͛ĞŶƚƌĞ ĞůƐ ƋƵĞ ĐŽŶĐƵƌƐĂǀĞŶ ƉĞƌ ĚŝƐƐĞŶLJĂƌ ůĂ ƉůĂĕĂ ĚĞ ů͛/ůůĂ ĞŶƚƌĂů͘ Ͳ YƵŝŶĂ ǀĂůŽƌĂĐŝſ ĨĂ ĚĞů ƉƌŽũĞĐƚĞ ŐƵĂŶLJĂĚŽƌ͍ Ͳ ͛ĞŶƚƌĂĚĂ ĐĂů Ěŝƌ ƋƵĞ ůĂ ƚƌŝĂ ǀĂ ƐĞƌ ĚŝİĐŝů ƉĞƌƋƵğ ƚŽƚƐ ĞůƐ ƉƌŽũĞĐƚĞƐ ĞƌĞŶ ĚĞ ŵŽůƚĂ ƋƵĂůŝƚĂƚ͘ ŝƚ Ăŝdžž͕ ǀƵůů ĚĞƐƚĂĐĂƌ ƋƵĞ ƚŽƚƐ ĞůƐ ŵĞŵͲ ďƌĞƐ Ě͛ƵŶ ũƵƌĂƚ ŵŽůƚ ƌĞƉƌĞƐĞŶƚĂͲ ƟƵ ĨŽƌŵĂƚ ƉĞƌ ƌĞƉƌĞƐĞŶƚĂŶƚƐ ĚĞ ů͛ ũƵŶƚĂŵĞŶƚ͕ ĚĞ ůĂ 'ĞŶĞƌĂůŝƚĂƚ͕ ĚĞů ŽůͻůĞŐŝ Ě͛ ƌƋƵŝƚĞĐƚĞƐ ŝ ĚĞ ůĞƐ ĞŶƟƚĂƚƐ ǀĞŢŶĂůƐ ǀĂŶ ĞůĞŐŝƌ Ğů ŐƵĂŶͲ LJĂĚŽƌ ƉĞƌ ƵŶĂŶŝŵŝƚĂƚ͕ ŝ Ăŝdžž Ğŵ ĨĂ ƉĞŶƐĂƌ ƋƵĞ Ɛ͛ŚĂ ƚƌŝĂƚ Ğů ŵŝůůŽƌ ƉĞƌ Ă ĂĚĂůŽŶĂ͘ Ͳ YƵŝŶĂ ĚĞ ůĞƐ ĐĂƌĂĐƚĞƌşƐƟƋƵĞƐ ĚĞů ƉƌŽũĞĐƚĞ ĞŶ ĚĞƐƚĂĐĂƌŝĂ͍ Ͳ Ɛ ƵŶ ƉƌŽũĞĐƚĞ ƋƵĞ ƐŝŶƚŽŶŝƚnjĂ Ăŵď Ğů ƋƵĞ ĐƌĞĐ ƋƵĞ ĞƐƉĞƌĂ ůĂ ŵĂũŽƌŝĂ ĚĞ ĐŝƵƚĂĚĂŶƐ ŝ ĐŝƵƚĂĚĂŶĞƐ ƉĞƌ Ă ƵŶ ĞƐƉĂŝ ƚĂŶ ĞŵďůĞŵăƚŝĐ͕ ƉƵŶƚ Ě͛ĂƌƌŝďĂĚĂ Ě͛ƵŶĂ ŶŽǀĂ ƉĂͲ ƌĂĚĂ ĚĞ DĞƚƌŽ ŝ ŽŶ ƚĂŵďĠ ĂǀŝĂƚ ĞƐƚƌĞŶĂƌĞŵ ƵŶ ŶŽƵ ĂƉĂƌĐĂŵĞŶƚ͘ ^Ğƌă ƵŶ ŐƌĂŶ ĞƐƉĂŝ ĚĞ ǀĞƌĚ Ƶƌďă͕ ŝĚĞĂů ƉĞƌ ƉĂƐƐĞũĂƌ ŝ ƉĞƌ ĞƐƚĂƌͲƐ͛Śŝ͘ ůƐ ĂƌƋƵŝƚĞĐƚĞƐ ĞƐ ǀĂŶ ŝŶƐƉŝƌĂƌ ĞŶ ĞůƐ ďĂĚŝƵƐ ĚĞ ĂĚĂůŽŶĂ ŝ ǀŽůĞŵ ƋƵĞ ĂƋƵĞƐƚ ƐŝŐƵŝ ƵŶ ďĂĚŝƵ ƉĞƌ Ă ƚŽƚƐ͘ ƌĞĐ ƋƵĞ ĠƐ ƵŶ ĞŶĐĞƌƚ ƋƵĞ ů͛/ůůĂ ĞŶƚƌĂů ƐŝŐƵŝ ƵŶĂ ƉůĂĕĂ ǀĞƌĚĂ ŝ ŶŽ ĚƵƌĂ͘

Ͳ ƌĂ ĨĂ ƵŶƐ ĚŝĞƐ ĞƐ ǀĂ ŝŶĂƵŐƵƌĂƌ ůĂ ŶŽǀĂ ƵƌďĂŶŝƚnjĂĐŝſ ŝ ĂƉĂƌĐĂŵĞŶƚ ƐŽƚĞƌƌĂƚ ĚĞ ůĂ ƉůĂĕĂ ĚĞ ů͛ ŶŐŝŶLJĞƌ ĞƵůŽĨĞƵ͍ Ͳ hŶĂ ŽďƌĂ ĚĞ ŐƌĂŶ ƋƵĂůŝƚĂƚ ƌĞĐŽͲ ŶĞŐƵĚĂ ƉĞƌ ƚŽƚŚŽŵ͘ ƋƵĞƐƚĂ ũĂ ůĂ ƚĞŶŝŵ ŝ ůĂ ŐĞŶƚ ũĂ ůĂ ƉŽƚ ŐĂƵĚŝƌ͘ >Ă ĚŝĨĞƌğŶĐŝĂ ĞŶƚƌĞ Ğů ƉĂƐƐĂƚ ŝ Ğů

ƉƌĞƐĞŶƚ Ě͛ĂƋƵĞůůĂ ƉůĂĕĂ ůĂ ƐĂďĞŶ͕ ŵĠƐ ƋƵĞ ŶŝŶŐƷ͕ ĞůƐ ǀĞŢŶƐ ŝ ǀĞŢŶĞƐ ĚĞ ĂŶ ůĂƌŝƐ Ă ƋƵŝ Ɛ͛ŚĂ Ě͛ĂŐƌĂŝƌ ůĂ ƐĞǀĂ ƉĂƌƚŝĐŝƉĂĐŝſ ŝ ƉĂĐŝğŶĐŝĂ ĚƵƌĂŶƚ ƚŽƚƐ ĂƋƵĞƐƚƐ ŵĞƐŽƐ͘ ZĞƉƌĞƐĞŶƚĂ ƵŶ ŐƌĂŶ ĐĂŶǀŝ͘ WĞƌ Ă ů͛/ůůĂ ĞŶƚƌĂů͕ ĞƐƉĞƌŽ ƵŶ ĐĂŶǀŝ ŝŐƵĂů ĚĞ ƌĂĚŝĐĂů͕ ŝŐƵĂů ĚĞ ƉŽƐŝƟƵ͘

͞ ů ƉƌĞƐƐƵƉŽƐƚ ϮϬϭϬ ĐŽŶŐĞůĂƌă ŝŵƉŽƐƚŽƐ ƉĞƌž ƚŽƌŶĂƌă Ă ĐƌĠŝdžĞƌ ĞŶ ĚĞƐƉĞƐĂ ƐŽĐŝĂů͟ Ͳ Ŷ ĂƋƵĞƐƚĂ ğƉŽĐĂ ĚĞ ů͛ĂŶLJ ĠƐ ƋƵĂŶ ů͛ ũƵŶƚĂŵĞŶƚ ƉƌĞƉĂƌĂ Ğů ƉƌĞƐƐƵƉŽƐƚ ƉĞƌ Ă ů͛ĂŶLJ ƋƵĞ ǀĞ͘ YƵŝŶĞƐ ŶŽǀĞƚĂƚƐ Śŝ ŚĂƵƌă͍ Ͳ ƐƚĞŵ ĞŶ ƵŶĂ ƐŝƚƵĂĐŝſ ĞĐŽŶžͲ ŵŝĐĂ ŐůŽďĂů ĐŽŵƉůŝĐĂĚĂ ŝ ƐĞƌă

ƵŶ ƉƌĞƐƐƵƉŽƐƚ ƋƵĞ ĐŽŶŐĞůĂƌă ĞůƐ ŝŵƉŽƐƚŽƐ ŝ ƚĂdžĞƐ ŵƵŶŝĐŝƉĂůƐ ƉĞƌž ƋƵĞ͕ Ăů ŵĂƚĞŝdž ƚĞŵƉƐ͕ ŝŶͲ ĐƌĞŵĞŶƚĂƌă ůĂ ĚĞƐƉĞƐĂ ƐŽĐŝĂů ĚĞ ůĂ ŵĂƚĞŝdžĂ ŵĂŶĞƌĂ ƋƵĞ ŚĞŵ ĨĞƚ ĞŶŐƵĂŶLJ͘ ,Ž ĨĂƌĞŵ͕ Ăŵď ƵŶĂ

ƉŽůşƟĐĂ ĚĞ ƌŝŐŽƌ ŝ ƌĞƐƉŽŶƐĂďŝůŝƚĂƚ ĞŶ Ğů ĐŽŶƚƌŽů ĚĞ ůĂ ĚĞƐƉĞƐĂ ĞŶ ĂůƚƌĞƐ ăŵďŝƚƐ ĚĞ ů͛ĂĐƟǀŝƚĂƚ ŵƵŶŝͲ ĐŝƉĂů͕ ŐĂƌĂŶƟŶƚ ĞŶ ƚŽƚ ŵŽŵĞŶƚ Ğů ŵĂŶƚĞŶŝŵĞŶƚ ĚĞůƐ ƐĞƌǀĞŝƐ ďăƐŝĐƐ ƋƵĞ ŽĨĞƌŝŵ Ă ůĂ ĐŝƵƚĂĚĂŶŝĂ͘

ƵƚůůĞơ ŝŶĨŽƌŵĂƟƵ ĚĞů W^ ĚĞ ĂĚĂůŽŶĂ ͻ ďĂĚĂůŽŶĂ͘ƐŽĐŝĂůŝƐƚĞƐ͘ĐĂƚ

14$*OGPSNB JOEE

&ĞƚƐ ŝ ĨĞŝŶĂ

͞DĂŝ Ɛ͛ŚĂǀŝĂ ŝŶǀĞƌƟƚ ƚĂŶƚ ŝ ƚĂŶ ĚĞ ĐŽƉ ĞŶ ŵŝůůŽƌĂƌ ƚŽƚĞƐ ůĞƐ ĞƐĐŽůĞƐ ƉƷďůŝƋƵĞƐ͟ Ͳ Ŷ ůĂ ƌĞƉƌĞƐĂ ĚĞ ĐƵƌƐ͕ ƵŶ ĂůƚƌĞ ĨĞƚ ĚĞƐƚĂĐĂƚ ŚĂ ĞƐƚĂƚ ůĂ ŵŝůůŽƌĂ ƋƵĞ Ăŵď Ğů WůĂ ĂƉĂƚĞƌŽ Ɛ͛ŚĂ ĨĞƚ Ă ůĞƐ ĞƐĐŽůĞƐ͘ Ͳ ĨĞĐƟǀĂŵĞŶƚ͕ ŝŶǀĞƌƟƌ ϰ͕ϱ ŵŝͲ ůŝŽŶƐ Ě͛ĞƵƌŽƐ ĚĞů WůĂ ĂƉĂƚĞƌŽ ĞŶ ƌĞĨŽƌŵĞƐ Ă ƚŽƚƐ ĞůƐ ĐĞŶƚƌĞƐ ĞƐĐŽůĂƌƐ ŚĂ ĞƐƚĂƚ ƵŶĂ ďŽŶĂ ĚĞͲ ĐŝƐŝſ͕ Ăŵď ƵŶ ďĞŶĞĨŝĐŝ ƐŽĐŝĂů ŵŽůƚ ŝŵƉŽƌƚĂŶƚ͘ DĂŝ Ɛ͛ŚĂǀŝĂ ŝŶǀĞƌƟƚ ƚĂŶƚ͕ ŝ ƚĂŶ ĚĞ ĐŽƉ͕ ĞŶ ŝŶͲ ĨƌĂĞƐƚƌƵĐƚƵƌĂ Ě͛ĞĚƵĐĂĐŝſ Ă ĐĂƐĂ ŶŽƐƚƌĂ ŝ Ɛ͛ŚĂ ĨĞƚ͕ ƌĞĐŽƌĚĞŵͲŚŽ͕ ƐĞŶƐĞ ƋƵĞ ů͛ĞĚƵĐĂĐŝſ ƐŝŐƵŝ ƵŶĂ

ĐŽŵƉĞƚğŶĐŝĂ ƉůĞŶĂŵĞŶƚ ŵƵͲ ŶŝĐŝƉĂů͘ ƌĞĐ ƋƵĞ ůĂ ĐŽŵƵŶŝƚĂƚ ĞĚƵĐĂƚŝǀĂ ĞƐƚă ĐŽŶƚĞŶƚĂ͘ ůƐ ƉĂƌĞƐ͕ ŵĂƌĞƐ ŝ ƉƌŽĨĞƐƐŝŽŶĂůƐ ĚĞůƐ ĐĞŶƚƌĞƐ Ăŝdžş ŵ͛ŚŽ ŚĂŶ ĞdžͲ ƉƌĞƐƐĂƚ͘ Ͳ >Ă ƌĞƐƚĂ Ě͛ŽďƌĞƐ ĮŶĂŶĕĂĚĞƐ Ăŵď Ğů WůĂ ĂƉĂƚĞƌŽ ƚĂŵďĠ ǀĂŶ Ă ďŽŶ ƌŝƚŵĞ͘ Ͳ ůŐƵŶĞƐ ũĂ ĞƐƚĂŶ ĮŶƐ ŝ ƚŽƚ ĞŶͲ ůůĞƐƟĚĞƐ͘ ůŐƵŶĞƐ ƉůĂĐĞƐ ũĂ ŚĂŶ ĞƐƚĂƚ ƌĞŶŽǀĂĚĞƐ͕ ůĂ ŐĞŶƚ ũĂ ůĞƐ ŐĂƵĚĞŝdž͖ ŝ ůĞƐ ƌĞĨŽƌŵĞƐ ĂůƐ ƉĂͲ

ǀĞůůŽŶƐ ĞƐƉŽƌƟƵƐ ƚĂŵďĠ ĞƐƚĂŶ ĂĐĂďĂĚĞƐ ƉĞƌƋƵğ ŚĞŵ ĂƉƌŽĮƚĂƚ ů͛ĞƐƟƵ͕ ƐĞŶƐĞ ĐŽŵƉĞƟĐŝſ͕ ƉĞƌ Ă ĞŶůůĞƐƟƌͲůĞƐ͘ >ĞƐ ĂůƚƌĞƐ ŽďƌĞƐ ĚĞů & /> ƐĞŐƵĞŝdžĞŶ Ğů ĐĂůĞŶĚĂƌŝ ƉƌĞͲ ǀŝƐƚ ŝ ƐĞƌĂŶ ƵŶĂ ƌĞĂůŝƚĂƚ ĂďĂŶƐ ŶŽ ƐΖĂĐĂďŝ ů͛ĂŶLJ͘ sƵůů ĂƉƌŽĮƚĂƌ ů͛ŽĐĂƐŝſ ƉĞƌ ĂŐƌĂŝƌ ůĂ ƉĂĐŝğŶĐŝĂ ĚĞůƐ ǀĞŢŶƐ ĚŝƌĞĐƚĂŵĞŶƚ ĂĨĞĐƚĂƚƐ ƉĞƌ ůĞƐ ŝŶĞǀŝƚĂďůĞƐ ŵŽůğƐƚŝĞƐ ƋƵĞ ŐĞŶĞƌĞŶ ĂůŐƵŶĞƐ Ě͛ĞůůĞƐ͕ ƉĞƌž ůĂ ŵŝůůŽƌĂ ƋƵĞ ƌĞƉƌĞƐĞŶͲ ƚĂƌĂŶ ƚĂŵďĠ ƐĞƌă ŵŽůƚ ŐƌĂŶ ƵŶ ĐŽƉ ĞŶůůĞƐƟĚĞƐ͘

͞>ĞƐ ŶŽƐƚƌĞƐ ĂƉŽƌƚĂĐŝŽŶƐ ŚĂŶ ŵŝůůŽƌĂƚ Ğů ƉƌŽũĞĐƚĞ ĚĞ ƚƷŶĞů ĚĞ ůĂ ŽŶƌĞƌŝĂ͟ Ͳ hŶ ĂůƚƌĞ ƚĞŵĂ ƋƵĞ ŚĂ ĞƐƚĂƚ Ě͛ĂĐƚƵĂůŝƚĂƚ ĂƋƵĞƐƚ ĚŝĞƐ ĚĞƐƉƌĠƐ ĚĞ ŵŽůƚƐ ĂŶLJƐ ŚĂ ĞƐƚĂƚ Ğů ĚĞů dƷŶĞů ĚĞ ůĂ ŽŶƌĞƌŝĂ͘ Ͳ ,Ă ĞƐƚĂƚ Ě͛ĂĐƚƵĂůŝƚĂƚ͕ ĠƐ ĐĞƌƚ͕ ƉĞƌž ŚŽ ŚĂ ĞƐƚĂƚ ƉĞƌƋƵğ ůĂ 'ĞŶĞͲ ƌĂůŝƚĂƚ ŚĂ ĚĞĐŝĚŝƚ ƟƌĂƌ ĞŶĚĂǀĂŶƚ ƵŶ ƉƌŽũĞĐƚĞ ǀŝƚĂů ŝ ĞƐƚƌĂƚğŐŝĐ ƋƵĞ ĂůƚƌĞƐ 'ŽǀĞƌŶƐ ŶŽ ŚĂǀŝĞŶ ƌĞƐŽůƚ͘ ů ƉƌŽũĞĐƚĞ ƋƵĞ Ğů WƌĞͲ

ƐŝĚĞŶƚ DŽŶƚŝůůĂ ĞƐ ǀĂ ƚƌŽďĂƌ Ă ƐŽďƌĞ ĚĞ ůĂ ƚĂƵůĂ ĞƌĂ ƵŶ ǀŝĂů ĚĞ ŐƌĂŶ ŝŵƉĂĐƚĞ ƋƵĞ ĂƌĂ ĞƐ ƉůĂŶƚĞũĂ ŵŽůƚ ŵŝůůŽƌĂƚ͕ Ăŵď ƵŶ ƚƷŶĞů ŵĠƐ ůůĂƌŐ ŝ Ăŵď ůĞƐ ĂƉŽƌƚĂĐŝŽŶƐ ƋƵĞ ůŝ ŚĞŵ ĨĞƚ ĚĞƐ ĚĞ ĂĚĂůŽŶĂ͕ ĐŽŵ ĂƌĂ ĞůƐ ĂĐĐĞƐƐŽƐ ĚŝƌĞĐƚĞƐ ĚĞƐ ĚĞ ůĂ Ͳϯϭ Ă ƚƌĂǀĠƐ ĚĞů dŽƌƌĞŶƚ ĚĞ sĂůůŵĂũŽƌ͕ ƉĞƌ ĞdžĞŵƉůĞ͘ ƌĞĐ ƋƵĞ͕ ĞŶ ĂƋƵĞƐƚƐ ŵŽŵĞŶƚƐ͕ ĠƐ

ďăƐŝĐ ŐĂƌĂŶƚŝƌ ƋƵĞ Ğů dƷŶĞů ĚĞ ůĂ ŽŶƌĞƌŝĂ ĞƐ ĨĂĐŝ͘ /͕ Ă ŵĠƐ͕ ƋƵĞ ĐŽŶƚĞŵƉůŝ ůĞƐ ďŽŶŝĮĐĂĐŝŽŶƐ ƋƵĞ ƐŝŐƵŝŶ ŶĞĐĞƐƐăƌŝĞƐ ƉĞƌ ĂůƐ ƵƐƵĂƌŝƐ ĚĞ ĂĚĂůŽŶĂ ƋƵĞ Ğů ĨĂĐŝŶ ƐĞƌǀŝƌ ƐŽǀŝŶƚ ƉĞƌ ĂŶĂƌ Ă ƚƌĞďĂůůĂƌ ŝ ƋƵĞ Ɛ͛ŽĨĞƌĞŝdžŝ ƵŶ ƐĞƌǀĞŝ ĚĞ ƚƌĂŶƐƉŽƌƚ ƉƷďůŝĐ ĚĞ ƋƵĂůŝƚĂƚ ĞŶƚƌĞ ĞůƐ ŵƵͲ ŶŝĐŝƉŝƐ ĐŽŶŶĞĐƚĂƚƐ ƉĞů ŶŽƵ Ğŝdž ĚĞ ĐŽŵƵŶŝĐĂĐŝſ͘

ϰϬϬ ƐŝŵƉĂƟƚnjĂŶƚƐ ŶŽƵƐ Ă >Ă ^ĂůƵƚ Ŷ ƵŶ ĚŝƐƐĂďƚĞ ĚĞů ŵĞƐ ĚĞ ũƵŶLJ͕ ƵŶĞƐ ϰϬϬ ƉĞƌƐŽŶĞƐ ĞƐ ǀĂŶ ƐƵŵĂƌ Ă ůĂ ĐĂŵƉĂŶLJĂ ͞/ŵƉůŝĐĂ͛ƚ͕ ƉĂƌƟĐŝƉĂ ŝ ŐƵĂŶLJĂ͕͟ ƋƵĞ ů͛ ŐƌƵƉĂĐŝſ ůŽĐĂů ĚĞů W^ ǀĂ ŽƌŐĂŶŝƚnjĂƌ Ăů ďĂƌƌŝ ĚĞ >Ă ^ĂůƵƚ͘ Ŷ ƚƌĞƐ ƉĂƌĂĚĞƐ ƌĞƉĂƌƟĚĞƐ Ăů ƉĂƐƐĞŝŐ ĚĞ ůĂ ^ĂůƵƚ͕ ƉĂƐƐĂƚŐĞ ĚĞůƐ ŶĐĂŶƚƐ͕ ŝ Ăů ĐĂƌƌĞƌ ĚĞ ^ĂůǀĂĚŽƌ ƐƉƌŝƵ͖ ĚĞƐͲ ĞŶĞƐ ĚĞ ŵŝůŝƚĂŶƚƐ ǀĂŶ ĂƚĞŶĚƌĞ ůĞƐ ƉƌĞŐƵŶƚĞƐ ĚĞ ůĂ ĐŝƵƚĂĚĂŶŝĂ͘ Ɛ ǀĂ ŝŶĨŽƌŵĂƌ ƚŽƚŚŽŵ ĚĞ ů͛ĂĐĐŝſ ƐŽĐŝĂͲ ůŝƐƚĂ Ă ů͛ ũƵŶƚĂŵĞŶƚ͕ Ăů 'ŽǀĞƌŶ ĚĞ ůĂ 'ĞŶĞƌĂůŝƚĂƚ ŝ Ăů ĚĞ ů͛ ƐƚĂƚ͘ sĂŶ ƐĞƌͲŚŝ ƉƌĞƐĞŶƚƐ Ğů ^ĞĐƌĞƚĂƌŝ Ě͛KƌŐĂŶŝƚnjĂĐŝſ ĚĞů W^ ͕ :ŽƐĠ ĂƌĂŐŽnjĂ͕ ŝ Ğů ƉƌŝŵĞƌ ƐĞĐƌĞƚĂƌŝ ĚĞ ů͛ ŐƌƵƉĂĐŝſ ĚĞ ĂĚĂůŽͲ ŶĂ͕ :ŽƌĚŝ ^ĞƌƌĂ͘

& ^d > ZK^ ͘ ů ϮϬ ĚĞ ƐĞƚĞŵďƌĞ ƉĂƐƐĂƚ͕ ƵŶƐ ϭϱϬ ĐŽŵƉĂŶLJƐ ŝ ĐŽŵƉĂŶLJĞƐ ŝ ƐŝŵƉĂƟƚnjĂŶƚƐ ƐŽĐŝĂůŝƐƚĞƐ ǀĂŶ ƉĂƌƟĐŝƉĂƌ Ă ůĂ ƚƌŽďĂĚĂ ĂŶƵĂů ƋƵĞ Ğů ƐŽĐŝĂůŝƐŵĞ ĐĂƚĂůă ĐĞůĞďƌĂ Ă ůĂ WŝŶĞĚĂ ĚĞ 'Ăǀă͘ ůĂ &ĞƐƚĂ ĚĞ ůĂ ZŽƐĂ͕ Ğů ƉƌŝŵĞƌ ƐĞĐƌĞƚĂƌŝ ĚĞů W^ ĚĞ ĂĚĂůŽŶĂ͕ :ŽƌĚŝ ^ĞƌƌĂ͕ ǀĂ ŵĂŶŝĨĞƐƚĂƌ ͞ůĂ ŝŵƉŽƌƚăŶĐŝĂ ĞŶ ĂƋƵĞƐƚ ŵŽŵĞŶƚ ƉĞƌ Ă ĂĚĂůŽŶĂ ŝ ƉĞƌ Ă ĂƚĂůƵŶLJĂ ĚĞ ĨĞƌ ƉŝŶLJĂ͕ ĚĞ ĨĞƌ ǀĂůĞƌ Ğů ƐĞŶLJ ŝ ůĂ ƐĞŶƐĂƚĞƐĂ͕ ƉĞƌ ƉŽĚĞƌ ŝŵƉƵůƐĂƌ ŝ ĚĞƐƉůĞŐĂƌ ů͛ ƐƚĂƚƵƚ ŝ ŵŝůůŽƌĂƌ ůĂ ƐŝƚƵĂĐŝſ ƋƵĞ ƚƌĂǀĞƐƐĞŵ͕ ĚĞƐ ĚĞů ĚŝăůĞŐ ŝ ůĂ ĐŽůͻůĂďŽƌĂĐŝſ ĚĞ ƚŽƚŚŽŵ͘͟ ƐƉĂŝ ĚΖŝŶĨŽƌŵĂĐŝſ ƉŽůşƟĐĂ ĚĞů W^ ͻ ďĂĚĂůŽŶĂ͘ƐŽĐŝĂůŝƐƚĞƐ͘ĐĂƚ

14$*OGPSNB JOEE

HVSDL F

GURCK E

FXOWXUD DJHQGD OOLEUHV PÙVLFD FLQHPHV QRWÍFLHV

-B EBOTB SFHOB FM ;PSSJMMB BRVFTU DBQ EF TFUNBOB #BEBMPOB t 4J GB EFV BOZT RVF FMT BNBOUT EFM UFBUSF QPEFO HBVEJS EF M PCSB E FOUJUBUT B QBSUJS E BRVFTU FM DFOUSF E BSUT FTDÒOJRVFT EFM 5FBUSF ;PSSJMMB FODFUB VOB OPWB QSP QPTUB #BEBMPOB %BOTB "RVFTU DBQ EF TFUNBOB KPWFT CBMMBSJOFT EF MB DJVUBU EF MFT FTDPMFT &NJ 7JWBT -PMB Z 1B WØO .PWJNFOU 3JUNFT 4UJM J 5FNQP PGFSJSBO VO FTQFDUB DMF EF EBOTB EF QSJNFS PSESF $JOD DPSFÛHSBGT IBO USFCBMMBU BNC BRVFTUFT CBMMBSJOFT QFS DSFBS i.FTUÓTw B QBSUJS EF DJOD DPSFPHSBmFT i.FNPSJVNw RVF SFUSBUB M FTGPSÎ QFS SFDPOT

USVJS GSBHNFOUT EF NFNÛSJFT GÓTJRVFT J BMIPSB IP QPSUFN BM OPTUSF UFSSFOZ i-BTU $BSJMMPOw RVF NPTUSB DPN FYQSFTTFN GÓTJDBNFOU BRVFMMFT TFOTBDJP OT JOUFSOFT RVF BMIPSB FOT GBO TFS EÒCJMT i$PSSBM EF EPNJOHPw TFOTVBMJUBU BSU J SBÎB B SJUNF EF CVMFSÓBT i&SJLB T (BSEFOw VOB SFnFYJØ TPCSF MB QMVSBMJUBU J GJOBMNFOU i-B JNQFSGFDDJØ EFMT DJHOFTw RVF HJSB BM WPMUBOU EFM DPODFQUF E JNQFSGFDDJØ J JEFOUJUBU QSÛQJB < > .FTUÓT %JTTBCUF B MFT IPSFT EJVNFOHF B MFT IPSFT

$SFBUJWJUBU QFS B UPUT FMT QÞCMJDT J UPUFT MFT FEBUT #BEBMPOB t 4FOTF EFT NFSÒJYFS FMT BSUJTUFT FO NB KÞTDVMFT IJ IB VOB DPSSFOU JEFPMÛHJDB RVF EJV RVF UPUIPN QPU TFS BSUJTUB RVF UPUIPN UÏ MB DBQBDJUBU E FYQSFTTBS FM TFV JOUFSJPS FO BMHVOB EJTDJQMJ OB BSUÓTUJDB &M NÏT JNQPSUBOU ÏT FM QSPDÏT EF GFS GÓTJDB VOB FNPDJØ E FYQFSJNFOUBS QFS VO NBUFJY FM QSPDÏT EF MB DSFBDJØ +B GB EPT BOZT RVF B #BEBMPOB T IB JOTUBMtMBU M "TTPDJBDJØ EF $SFBEPST &TQJSBM VOB FOUJUBU RVF WFUMMB QFS MB DSFBUJWJUBU B #BEBMPOB J RVF QSPNPV M BSU B UPUT FMT SBDPOT QPTTJCMFT EF MB DJVUBU &MT WBN QPEFS WFVSF B MB 'FTUB EFM #BEJV B MFT 'FTUFT "MUFSOBUJWFT J BMHVOT KB IBO QBSUJDJQBU FO BMHVOT EFMT UBMMFST

QBH JOEE

RVF GBO BM DBSSFS #BUJTUB J 3PDB OÞN "SB KB IBO PCFSU JOT DSJQDJPOT BMT EJGFSFOUT UBMMFST E FYQSFTTJØ BSUÓTUJDB RVF FT GBO B M "TTPDJBDJØ EF 7FÕOT EFM $FOUSF B $BO $BCBOZFT B NÏT E BDUJWJUBUT USJNFTUSBMT EF

DPTUVSB NBSRVFSJB JMtMVTUSBDJØ FYQSFTTJØ J DPNQPTJDJØ QJDUÛSJ DB SFDJDMBUHF J FTDVMUVSB < > FTQJSBMBTTPDJBDJP XPSEQSFTT DPN

(JOB EF 5FSB

727 %DGDORQD

HVSDL F

+PBO "OUPO 4ËODIF[ J MB QPMÓUJDB E "CPOBNFOUT +PBO "OUPO 4ËODIF[ %JSFDUPS EFM 5FBUSF ;PSSJMMB #BEBMPOB t "NC MB QPTB E B FO NBS YB E F MB WFOE B E BCPOBNFOUT FM 5FBUSF ;P SSJMMB IB HVBOZBU BNC BnVÒO DJB EF QÞCMJD &O EBEFT EFM EF TFUFN CSF T IB WFOVU FM EF MFT FOUSBEFT BOUJDJQBEFT B NÏT EF BCPOBNFOUT EF UFN QPSBEB J B MB DBSUB 6OFT YJGSFT NPMU CPOFT RVF GJOT J UPU PCMJHVFO B QSPHSBNBS TFHPOFT GVODJPOT DPN KB WB QBTTBS BNC )BNMFU J UBNCÏ BNC -B .BUFSOJUBU E &MOB

"RVFTUFT EBEFT DPOmSNFO RVF FMT BCPOBNFOUT FSFO OFDFTTBSJT 4Ó TPCSFUPU QFSRVÒ QPEFN NBOUFOJS VO QSFV NPMU FDPOÛ NJD J BMIPSB PGFSJS VOB QSPHSB NBDJØ EF QSJNFS OJWFMM

QFS B VO EJB J VOB IPSB $PN RVF FMT DPNQSBEPST NBSYBWFO TFOTF M FOUSBEB T FOGBEBWFO QFSÛ EFTQSÏT BHSBÕFO OP GFS DVB "M -JDFV P B M "VEJUPSJ FT QPEFO SFOPWBS FMT BCPOBNFOUT QFS UFMÒGPO /PTBMUSFT UBNCÏ WPMFN BDB CBS GVODJPOBOU BJYÓ QFSÛ OP NÏT GB VO BOZ RVF T IB QPTBU FO NBSYB BRVFTUB QPMÓUJDB - BOZ QBTTBU TF O WBO WFOESF BRVFTU BOZ J MB OPT USB mUB ÏT WFOESF O J BJYÓ BDPOTFHVJS GFS EPT GVODJPOT EF DBEB FTQFDUBDMF

5PU J BJYÓ IJ IB IBHVU BMHVOFT RVFJYFT FOUSF FMT DPNQSBEPST &M QSPCMFNB RVF IJ IB ÏT RVF UPUIPN WF FM QSJNFS EJB ÏT DPN TJ BOÏTTJN BM GPSO EF QB UPUT B MB NBUFJYB IPSB FM GPSO FT DPMtMBQTBSJB "M ;PSSJMMB UBNCÏ OP QPEFN BNQMJBS MFT UFSNJOBMT RVF EJTQFOTFO FO USBEFT QFS RVBUSF EJFT B M BOZ 1FS FWJUBS DVFT EPOËWFN DJUB

(JOB EF 5FSB

4J FOT WPMT JOGPSNBS EF RVBMTFWPM OPUÓDJB DVMUVSBM FOWJB OT VO NBJM B FTQBJ$!FMUPUEJHJUBM DPN

$63404 46#7&/$*0/"54 1&3 " 53&#"--"%034 "650/0.4 * "563"54 t 803% t 13&7&/$*» 3*4$04 -"#03"-4 t &9$& 4&$503 $0.&3±

t "$$&44 t 13&7&/$*» 3*4$04 -"#03"-4 t "650$"% " %*45"/$*" )PSBSJT DVSTPT FO HSVQT EF NBUÓ J UBSEB

)PSBSJ E BUFODJØ

#"%"-0/" '03 . "$*»

.BUJOT %JMMVOT %JNFDSFT J %JWFOESFT EF 5BSEFT %JMMVOT EF %JKPVT EF

*HOBTJ *HMFTJBT 4 #BEBMPOB 5FMT $POUFTUBEPS

727 %DGDORQD

QBH JOEE

HVSDL F

DJHQGD %DGDORQD %JKPVT

&TQMBJT

$BMFOEBSJ 'FTUJV

$"-&/%"3* '&45*6 1SFTFO U B D J Ø E F M Q S P H S B N B H F O F S B M i&MT DPMPST EF MB UBSEPSw J EFM NBQB E FOUJUBUT J TFSWFJT BMT EPT UFSSJUPSJT " MFT I "M $$ -B 4BMVU

&YQPTJDJØ

*/5&313&5"$*0/4 &YQPTJDJØ DPMtMFDUJWB E BSUJTUFT CBEBMPOJ OFT " MFT I B MB QM CBJYB EF M BKVOUBNFOU #BEBMPOB &E &M 7J WFS 'JOT EJKPVT E PDUVCSF

4FNJOBSJ

/05*/( )*-- 4FNJOBSJ 7JSHJOJB 8PPMG " MFT I B MB 3FHJ EPSJB EF MB %POB

%JMMVOT

&41-"* %*1-0%0$64 %JT TBCUFT EF B I /FOT FT EF B BOZT & NBJM FTQMBJEJQMPEPDVT!HNBJM DPN P

&YQPTJDJØ

*/4536.&/54 %&- .»/ 'JOT EJWFOESFT E PDUVCSF "M $$ 5PSSF .FOB

&41"* %& +0$ &41-"* %*1-0 %0$64 "M $&*1 -PMB "OHMBEB $BOZBEØ EF B I /FOT FT EF B BOZT å & NBJM FTQMBJEJQMPEPDVT!HNBJM DPN P

%JNBSUT

$&/53& % &41-"* "41*3"/ 5"5 %& 4"/5 +04&1 1FS JO GBOUT J KPWFT EF B BOZT FMT EJTTBCUFT EF B I BMT M P D B M T E F T P U B M B Q B S S Û R V J B EF 4U +PTFQ XXX BTQJSBOUBU DPN BTQJSBOUBU!BTQJSBOUBU DPN

%JNFDSFT

5BMMFS *OGBOUJM

%JKPVT

$MVC -FDUVSB

i&- 7*0-¶ % "64$)8*5;w EF . ®OHFMT "OHMBEB EF B I " MB 3FHJEPSJB EF MB EPOB

5BMMFST

/064 $0/5&4 /07&4 )*4 5¾3*&4 &TDSJQUVSB DSFBUJWB EF DPOUFT J OBSSBDJPOT DVSUFT EF B I " MB 3FHJEPSJB EF MB EPOB

" 1 3 µ / " . # & - 4 $ 0 / 5 & 4 /FOT FT BOZT " MFT I "CBDVT # BEBMPOB 'SBODFTD .BDJË

%JWFOESFT &YQPTJDJØ

"(3"¸.&/5 5ÒDOJRVFT WËSJFT EFM DPMtMFDUJV DBNJOT EF MMVN 'JOT EJNBSUT E PDUVCSF "M $$ %BMU MB 7JMB

$PODFSU

®'3*$" -*7& .ÞTJDB BGSJDBOB FO DPMtMBCPSBDJØ BNC MB 4FU NBOB EF MB 4PMJEBSJUBU " MFT I &OUSBEB MMJVSF "M $$ %BMU MB 7JMB

%JTTBCUF 5FBUSF

&/ +0"/ 4&/4& 103 $PNQBO ZJB &HPT 1FUJUT 5FBUSF NVTJDBM J UJUFMMFT B MFT I BM $ÓSDPM $BUÛMJD

&YQPTJDJØ

0-*4 %& $"3.& 30%» 'JOT EJNBSUT E PDUVCSF BM $$ $BO $BCBOZFT

#BMM

#BMM J NÞTJDB FO WJV " MFT I BM $BTBM 1FQ 7FOUVSB

1SFTFOUBDJØ 0CSB

$0/5&4 * '®#6-&4 %& -0-" 7"/ (6"3%*" E *TBCFM 'SBOD $JDMF DVJOBOU QBSBVMFT " MFT IPSFT " MB 3FHJEPSJB EF MB EPOB

"MUSFT "DUJWJUBUT

530#"%" %& ."-"#"3*4 5&4 .0/0$*-*45&4 * 9"/ 2 6 & 4 % & # " % " - 0 / " ' J O T EJVNFOHF E PDUVCSF "M $$ $BO $BOZBEØ

4PSUJEB

.64&6 *4""$ "-#²/*; " MFT IPSFT 1SFV å "M $BTBM 1FQ7FOUVSB

%JVNFOHF

%VSBOU MB TFUNBOB

4BSEBOFT

$0#-" --6¸404 %& 5"3"%&-- " MFT EF MB UBSEB B MB 3BNCMB

4PSUJEFT

&45"%" %& 53&4 %*&4 " $".

130%0/ %FM EJNBSUT BM EJ KPVT E PDUVCSF *OTDSJQDJPOT %JMMVOT J EJNFDSFT EF B I " M 0SGFØ #BEBMPOÓ

$BNQJPOBU &YDVSTJPOJTNF

41035 $*$-*45" #²56-0 +P WFMMBS FTDBMB MPDBM 6MMBT USFMM LN 4PSUJEB IPSFT " 4UB $PMPNB .POUDBEB 4U $VHBU 3VCÓ -FT 'POUT &MT 0ODF 5 $BTUFMMCJTCBM 3VCÓ 4U $VHBU $FSEBOZPMB .POUDBEB 4UB $PMPNB

.64&6 %& #"%"-0/" 03(" /*5;" 6/ 7*"5(& $6-563"- " ."%3*% %FM EJWFOESFT GJOT EJMMVOT E PDUVCSF .VTFV #BEBMPOB

'FTUFT 5SBEJDJPOBMT

97 '&45*7"- 5033& .&/" '0-, %& 5"3%03 B MB 1M 5SB GBMHBS $$ 5PSSF .FOBÎ

$"/5"#3*" %JMMVOT B EJ WFOESFT E PDUVCSF 1FOTJØ DPNQMFUB 1SFV QFSTPOB å

2VF OP TF UhFTDBQJ %JWFOESFT 4FUNBOB EF MB 4PMJEB SJUBU $PODFSU EFM HSVQ "'3*$" -*7&$ $ %BMU -B 7JMB r $ (FSNË CFSOBCÏ r

%JWFOESFT &YQPTJDJØ Ò 1SFNJ EF 1JOUVSB .F OBSJOJ QFS B +PWFT 1JOUPST .VTFV EF #BEBMPOB r

QBH JOEE

727 %DGDORQD

&YQPTJDJPOT

& 9 1 0 4 * $ * » % & # * $ * $ - & 5 & 4 "/5*(6&4 "M .ËHJD #BEBMPOB B MB QMBOUB CBJYB EFM DFOUSF 'JOT EJTTBCUF E PDUVCSF &4$0-&4 % "-53&4 .»/4 '0 50(3"'*&4 'JOT EJVNFOHF EF TFUFNCSF "M $$ -B 4BMVU &- .*44"5(& %& - "*(6" 'PUP HSBGJFT 'JOT EJKPVT E PDUVCSF "M $$ -B 4BMVU

"DUJWJUBUT "TTPD 7FÕOT $PMM J 1VKPM

5"--&34 (JNOËTUJDB MBCPST NBOVBMJUBUT QJOUVSB UFMB DBUBMË J BOHMÒT QBSMBU UBMMFS NFNÛSJB J EÛNJOP EJCVJY QJOUVSB PMJ

10&4*" O EJNBSUT EF DBEB NFT

"/:4 %&- /"*9&.&/5 %& +0"/05 ."3503&-- 5JSBOU MP #MBOD JOJDJB MB HFTUB %JWFS TPT BSUJTUFT SFGMFYJPOFO EFT EF MB TFWB PCSB QJDUÛSJDB TPCSF M FTDSJQUPS J MB MJUFSBUVSB 'JOT EJTTBCUF E PDUVCSF " M &TQBJ #FUÞMJB

$634 "44&35*7*5"5 4"#&3 %*3 26& /0 BNC &ODBSOB $BNQPZ QTJDÛMPHB

&9104*$*» * --*63".&/5 %&- µ 13&.* %& 1*/563" .&/" 3*/* QFS B KPWFT QJOUPST " MFT I BM .VTFV EF #BEBMPOB 'JOT EJVNFOHF E PDUVCSF

"DUJWJUBUT *OGBOUJMT

$VSTPT

$&/53& % &41-"* "41*3"/5"5 %& 4"/5 +04&1 *OJDJFN FM DVST EJTTBCUF E 0DUVCSF 1FS JOGBOUT J KPWFT EF B BOZT DBEB EJT TBCUF EF B I BMT MPDBMT EF TPUB MB QBSSÛRVJB EF 4U +PTFQ *OGPSNBDJØ XXX BTQJSBOUBU DPN BTQJSBOUBU!BTQJSBOUBU DPN

$634 &4$"-"%" &/ 30$" 'JOT EJKPVT E PDUVCSF 1MBDFT MJNJUBEFT $FOUSF &YDVSTJPOJTUB #BEBMPOB P DFCBEBMPOB!DFCBEBMPOB PSH $63404 16/5&4 %& $0*9¶ " UPUT FMT DFOUSFT DÓWJDT EF #BEBMPOB 5PUT FMT EJFT EF MB TFUNBOB %JGFSFOUT IPSBSJT "TTPD 1VOUBJSFT

$1/- $63404 $"5"-® %JGF SFOUT OJWFMMT XXX DQOM DBU CB EBMPOB P

$$ $"/ $"/:"%»

"$5*7*5"54 5BMMFST DVSTPT BDUJWJUBUT J UBMMFST KPWFT BDUJWJ UBUT JOGBOUJMT

$$ 5033& .&/"

"$5*7*5"54 5BMMFST BDUJWJUBUT JOGBOUJMT DVSTPT FUD

5"--&3 %& $04563" 1BUSP DJOB (FOU (SBO .PSFSB "M $$ .PSFSB

PRQWJDW $PODVST QBFMMFT

µ $0/$634 1"&--&4 " QBSUJS EF MFT I " M "W .FEJUF SSËOJB 1M .BMMPSRVJOFT .POU HBU *OTDSJQDJØ GJOT EJKPVT E P D U V C S F % S P H V F S J B " S B (FSNBOT "W .FEJUFSSËOJB 5FM

#BMMT

&TQMBJ

#"-- %& 4"-» %JTTBCUFT EF B I $BO $BOZBEØ (SVQ SFEVÕU o

&TQMBJ 9JSVTQMBJ SFQSÒO MFT TFWFT BDUJWJUBUT EJTTBCUF E PDUVCSF *OTDSJQDJPOT GJOT EJWFOESFT E PDUVCSF

$03"- */'"/5*- %& - 03'&» #"%"-0/¶ "ESFÎBU B OFOT FT EF B BOZT .ÏT JO G P S N B D J Ø P PSGFPCBEBMPOJ!ZBIPP FT

4PMJEBSJUBU

"TTPD %JTUSJDUF "QBUYF "DUJWJUBUT 0DUVCSF

%FT EF M "TTPDJBDJØ 4PDJBM " N J D T E F M ( P S H . B S #BEBMPOB OFDFTTJUFN BNC VSHÒODJB $PUYFUT EF SPEFT NBOUFT NFOKBS SPCB EF OFO J RVBMTFWPM BMUSF UJQVT E BKVEB

#"--4 %& 4"-» UFBUSF NF EJUBDJØ FUD .ÏT JOGPSNBDJØ EJTUSJUPBQBDIF!IPUNBJM DPN

"DUJWJUBUT $FOUSFT $ÓWJD 0DUVCSF

$ 1POFOU CBJYPT #BEBMPOB 5&-

$"/ $"#"/:&4

"$5*7*5"54 5BMMFST DVSTPT DBGÒT UFSUÞMJB FUD

$$ %"-5 -" 7*-"

"$5*7*5"54 5BMMFST DVSTPT BDUJWJUBUT OFOT J KPWFT USPCBEFT SBEJPBGFDDJPOBUT FUD

'& %& &33"5" &O MB QBTTBEB FEJDJØ EFM FO BRVFTU NBUFJY FTQBJ B MhBOVODJ BDUJWJUBUT EFM DBTBM QFQ WFOUVSB QFS FSSPS FT WB QPTBS MB EJSFDDJØ EFM DBSSFS FRVJWPDBU B MhBOVODJ QPTBWB $ "MGPOT 9*** TFOU FM DPSSFDUF "MGPOT 9** 1FSEPOJO M F T E J T D V M Q F T R V F B J Y Ø I B H J PDBTJPOBU 505 #"%"-0/" .0/5("5 5*"/"

$$ .03&3"

"$5*7*5"54 5BMMFST BDUJWJUBUT OFOT J KPWFT FUD $$ -" $0-*/"

"$5*7*5"54 5BMMFST UFBUSF B M PDUVCSF YFSSBEB FUD

%JVNFOHF $VSTB 1PQVMBS A%POFN MB DBSB QFS MB 4JEB )PTQJUBM EF $BO 3VUJ r r nTJEB PSH DVSTB

%JTTBCUF 'JSB EF MB 4PMJEBSJUBU +PDT EFM NØO J FEVDBUJVT 1H -B 3BNCMB T O r r 727 %DGDORQD

QBH JOEE

HVSDL F

5BMMFST

"M $BTBM 1FQ 7FOUVSB

HVSDL F

FLQHPHV

3&$

7JDLZ FM WJLJOHP

-PT MÓNJUFT EFM DPOUSPM

)BO QBTBEP VOPT NJOVUPT EFTEF RVF MBT BVUPSJEBEFT QFSEJFSPO FM DPOUBDUP DPO MBT QFSTPOBT FODFSSBEBT FO FM FEJm DJP FO DVBSFOUFOB /BEJF TBCF FYBDUBNFOUF RVÏ PDVSSF FO TV JOUFSJPS 'VFSB SFJOB FM DBPT 6OB VOJEBE EF (&04 TF BEFOUSB FO FM JOUFSJPS EF MB DBTB QBSB DPOUSPMBS MB TJUVBDJØO Z EFUFSNJOBS RVÏ FTUÈ PDVSSJFO EP 6OB NJTJØO BQBSFOUFNFOUF SÈQJEB Z GÈDJM %JS +BVNF #BMBHVFSØ Z 1BDP 1MB[B &TQB×B 5FSSPS *OUFS +POBUIBO .FMMPS »TDBS 4ÈODIF[ ;BGSB "SJFM $BTBT

6OB NB×BOB MB QFRVF×B BMEFB WJLJOHB EF 'MBLF FT BTBMUBEB QPS MPT NBMWBEPT HVFSSFSPT EF 4WFO FM 5FSSJCMF RVF TFDVFT USBO B UPEPT MPT OJ×PT &YDFQUP B 7JDLZ VO QBSUJDVMBS OJ×P QF MJSSPKP IJKP EFM KFGF )BMWBS RVF EFTUBDB QPS TVT CSJMMBOUFT JEFBT FO MPT NPNFOUPT NÈT EJGÓDJMFT )BMWBS FM NÈT DBCF[PUB EF MPT HVFSSFSPT WJLJOHPT EFDJEF EBS DB[B B MPT TFDVFTUSBEPSFT Z TBMWBS B MPT OJ×PT EF 'MBLF %JS .JDIBFM #VMMZ "MFNBOJB "WFOUVSBT DPNFEJB *OUFS +POBT )ÊNNFSMF 8BM EFNBS ,PCVT /JD 3PNN

i-PT MÓNJUFT EFM DPOUSPMw DVFOUB MB IJTUPSJB EF VO TPMJUBSJP NJT UFSJPTP FODBSOBEP QPS *TBBDI EF #BOLPMÏ VO FYUSB×P DVZBT BDUJWJEBEFT FTUÈO UPUBMNFOUF GVFSB EF MB MFZ )B WFOJEP B UFSNJOBS VO USBCBKP EFTDPOGÓB EF UPEPT Z OP SFWFMB TV PCKFUJWP B OBEJF 4V WJBKF QBSBEØKJDB NFOUF EFm OJEP Z POÓSJDP B MB WF[ OP TØMP MF MMFWB B DSV[BS UPEB MB QFOÓOTVMB *CÏSJDB TJOP B USBWÏT EF TV DPODJFODJB %JS +JN +BSNVTDI 64" %SBNB UISJMMFS *OUFS *TBBDI EF #BOLPMÏ "MFY %FTDBT -VJT 5PTBS

(JHBOUF

-B GFMJDJEBE QFSGFDUB .ËTDBSFT

+BSB )PSBDJP $BNBOEVMF VO HVBSEJB EF TFHVSJEBE EFM UVSOP EF OPDIF FO VO IJQFSNFSDBEP TF FOBNPSB EF VOB MJNQJBEPSB B MB RVF FTQÓB B USBWÏT EF MBT DÈNBSBT EF WJHJMBODJB 1SPOUP MB WJEB EF +BSB TF DPOWJFSUF FO VOB TFSJF EF SJUVBMFT Z SVUJOBT BMSFEFEPS EF FMMB Z TV EFTFP EF DPOPDPDFSMB %JS "ESJÈO #JOJF[ %SB NB *OUFS )PSBDJP $BNBOEVMF +B SB -FPOPS 4WBSDBT +VMJB

/ÏTUPS (V[[JOJ 5PNÈT 'FEF SJDP (BSDÓB .BUÓBT 'BCJBOB $IBSMP .BSJFMB

&M BUSPQFMMP RVF "JOIPB TV GSF FO VOB DBMMF DÏOUSJDB EF #BSDFMPOB GSVTUSB TV DBSSFSB QJBOÓTUJDB 5BNQPDP TV WJEB TFOUJNFOUBM WJWF TV NFKPS NP NFOUP QPDP BOUFT EFM BDDJ EFOUF DPOPDJØ B *NBOPM QFSP OP GVF DBQB[ EF DPNQBSUJS TV WJEB DPO ÏM QPS MB JODBQBDJEBE EF "JOIPB QBSB FYUFSJPSJ[BS TVT TFOUJNJFOUPT &O FM PSJHFO EF TVT NJFEPT FTUÈ FM BUFOUBEP EF &5" EFM RVF GVF UFTUJHP %JS +BCJ &MPSUFHJ &TQB×B ESBNB *OUFS "OOF *HBSUJCVSV "JO IPB "JB ,SVTF "JB ,SVTF

QBH JOEE

-PT BDUPSFT DPNP MPT NBHPT OP SFWFMBO TVT USVDPT +PTÏ .BSÓB 1PV IB IFDIP VOB FY DFQDJØO BM QFSNJUJS RVF VOB DÈNBSB m MNBSB FM QSPDFTP EF QSFQBSBDJØO EF VOB PCSB FO MB RVF JOUFSQSFUB B 0STPO 8F MMFT -B BDDJØO EF i.ËTDBSFTw USBOTDVSSF FOUSF CBNCBMJOBT VO FTQBDJP PDVMUP B MB NJSBEB EFM QÞCMJDP FO FM RVF FM BDUPS NVEB EF QJFM QBSB JOWPDBS B TV QFSTPOBKF %JS &MJTBCFU $BCF[B Z &TUFWF 3JBNCBV 1BÓT &TQB×B *OUFS +PTÏ .BSÓB 1PV $BMJYUP #JFJUP 3JDIBSE 'SBODFDBT

727 %DGDORQD

"QSPWFDIBOEP RVF FTUB TFNBOB TF FTUSFOB MB TFHVOEB QBSUF IB CMFNPT EF 3&$t MB SFWPMVDJØO DJOFNBUPHSÈm DB FO FM B×P EF TV FTUSFOP QFSP OP TPMP FO &TQB×B TJOP FO FM SFTUP EFM NBQB *ODMV TP FO &6" IJDJFSPO VO iSFNBLFw DBMDBEP B MB PSJHJOBM QFSP TJO FM QVOUP iDBTUJ[Pw EFM m MN FTQB×PM : UPEP FTUP OP GVF DBTVBMJEBE -B QFMÓDVMB DVFOUB MB IJTUPSJB EF VOB SFQPSUFSB RVF BDPNQB×B B

P BM TPGÈ EF DBTB $PNP EFDÓB OBEB GVF VOB DB TVBMJEBE -B QFMÓDVMB GVF HB MBSEPOBEB DPO MPT QSFNJPT EF NFKPS EJSFDDJØO NFKPS *OUFS QSFUBDJØO .BOVFMB 7FMBTDP

QSFNJP EF MB DSÓUJDB Z MB HVJOEB NFKPS QFMÓDVMB FO FM GFTUJWBM EF DJOF GBOUÈTUJDP EF 4JUHFT -B JOUFODJØO EF MPT EJSFDUPSFT FSB FYBDUBNFOUF MB RVF DPOTJ HVJFSPO BUFSSBS B MB HFOUF DPO VOB QFMÓDVMB EF DJFODJB m DDJØO QFSP UPEP FMMP TJO MMFWBSOPT OBEB MFKPT -B IJTUPSJB UJFOF GVFS[B QPSRVF DVBMRVJFSB TF TFOUÓB JEFOUJm DBEP &TF CMPRVF EF QJ TPT FSB FM NÓP FM EF MB CVUBDB EF EFMBOUF Z FM RVF MB WJP VOB TFNBOB EFTQVÏT RVF ZP /PT NFUFO FM NJFEP FO DBTB Z OVODB NFKPS EJDIP -B TFHVOEB QBSUF EF 0DUVCSF

QSPNFUF Z NVDIP

CPNCFSPT EF #BSDFMPOB DVBOEP SFDJCFO VOB MMBNBEB FO MB RVF EFCFO JS B VO CMPRVF EF OVFTUSB DJVEBE WFDJOB QBSB TPDPSSFS B VOB BODJBOB )BTUB BRVÓ CJFO QFSP UPEP TF FNQJF[B B UPSDFS DVBOEP MB QP MJDÓB BÓTMB FM CMPRVF DPO MPT WFDJ OPT MPT CPNCFSPT MB SFQPSUFSB Z TV DÈNBSB Z EPT QPMJDÓBT /P FYQMJDBO OBEB NÈT 4PMP TBCF NPT RVF EFOUSP EFM CMPRVF DPSSF VOB JOGFDDJØO WÓSJDB i4ÈMWFTF RVJÏO QVFEBw 5PEP FMMP DPOUBEP FO QSJNFSB QFSTPOB EFTEF MB DÈNBSB EF MB SFQPSUFSB $PO FTUP MPT EJ SFDUPSFT OPT NFUFO EF MMFOP FO MB QFMÓDVMB Z OPT EFKBO EFOUSP EFM CMPRVF EF QJTPT DPNP B VOP NÈT %FOUSP EFM HÏOFSP EF UFSSPS OP FT MB QFMÓDVMB RVF NÈT NJFEP EB IBZ EPT TVTUPT DPOUBEPT

QFSP EVSBOUF MPT NJOVUPT RVF EVSB FM GJMN FTUBNPT UFOTPT Z BHBSSBEPT B MB CVUBDB EFM DJOF

&RQFXUVR

&, 1([/ $ .

HVSDL F

-B $SÓUJDB 3&$ t

{5F BUSFWFSÈT B WPMWFS 3VCÏO 5BNBZP UBNBZP@CEO!IPUNBJM DPN

5$

#BEBMPOB BDJOF .ËHJD H F .

T MP O F P MUJNP FTUSFO ","3" FM Þ Y S F W TPSUFP EF FOUSBE F D UF {5F BQF BT *OGPSNBDJØO TPCSF FM DPODVSTP $BEB KVFWFT TPSUFBNPT FOUSBEBT 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 EFM 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 EFM TPSUFP EF FOUSBEB EF MB SFWJTUB $BSMJUPT 5PSSFOU (BCSFT +PTÏ .BSUÓOF[ EF MPT 0KPT 3PTBMJOB 'FSSFS J $PEJOB

727 %DGDORQD

QBH JOEE

HVSDL F

QRYHWDWV PÙVLFD

1FS (JOB EF 5FSB

OOLEUHV

QBH JOEE

-MJTUB EF DBOÎPOT &TDMBWP EF UVT CFTPT %BWJE #JTCBM * LOPX ZPV XBOU NF 1JUCVMM * HPUUB GFFMJOH #MBDL &ZFE 1FBT -PCB 4IBLJSB 8IFO MPWF UBLFT PWFS % (FUUB , 3PXMBOE

'.5 ,7)#&145 &' 9*+56 8KEGPÁ 2CIÃU '& '/2­4+'5 1BUÒUJD J SJEÓDVM GSBDBTTBU J TFOTF IBWFS DPNQMFSU DBQ EF MFT TFWFT FYQFDUBUJWFT EF KPWFOUVU FO +PSEJ FT HVBOZB MB WJ EB GFOU EF GPUÛHSBG EF DBTBNFOUT "WVJ QFSÛ ÏT VO EJB FTQFDJBM RVJ FT DBTB ÏT MB TFWB m MMB MB .BSUB J BNC VO OPJ RVF FMM OP QPU OJ WFVSF .FOUSF T FOGPOTB FO VOB EFQSFTTJØ FO +PSEJ SFDPSEB MB TFWB WJEB MB TFWB BEPMFTDÒODJB B 'JHVFSFT VOB EFTHSËDJB RVF MJ WB NBSDBS MB WJEB J RVF OP EFT DPCSJSFN m OT BM m OBM

/#4% 2#4416 CP[U FG NC PQXC ECPÁÎ 6 O E J T D E B R V F M M T RVF NPEFS OJU[FO HSBOT DMËTTJDT EF M B D B O Î Ø J B K V E B B MB HFOU KPWF B DPOÒJYFS FM QBTTBU NVTJDBM VO BMUSF SFUPSO NÏT 6O IPNFOBUHF GFU BNC SFTQFDUF QFSÛ RVF OP TPSQSÒO HBJSF QFS OP EJS HFOT ²T .BSD 1BSSPU DBOUBOU B 4JTB .BSJB EFM .BS #POFU 5FSFTB 3FCVMM 2VJDP 1J EF MB 4FSSB -MVÓT -MBDI IP QPSUB BM TFV UFSSFOZ J IP DBOUB B MB TFWB NBOFSB &O EJSFDUF EFV FTUBS CÏ

"OUFT EF RVF DVFOUF EJF[ 'JUP Z m UJQBMEJT 5IF SFTJTUBODF .VTF * MPPL UP ZPV 8JUIOFZ )PVTUPO (FU MVDLZ .BSL ,OPQn FS "WJPOFT 1FSF[B

5 S B O T D P S S F M BOZ FMT NPSJTDPT T FTGPSDFO B TPCSF WJVSF NBMHSBU FMT NPMUT PCTUB DMFT RVF FMT IBO JNQPTBU FMT DSJTUJBOT $POWFSUJUT GPSÎPTB NFOU BM DSJTUJBOJTNF SFMJHJØ RVF NFOZTQSFFO J FO MB RVBM TFNQSF TFSBO BMJFOT BDBCFO QFS SFWPMUBS J FTDMBUB VOB SF WPMUB DSVFM

/+ )'0'4#%+¦0 .1 /',14 &' .# '5%'0# /1& &' .15 +B GB UFNQT R V F I J IB TFHFMMT RVF SFTDBUFO EF M PCMJU FTDF OFT NVTJ DBMT RVF FT WBO WJVSF B M FTUBU FTQBOZPM FOUSF FMT J FMT "SB ÏT FM UPSO EFMT .PET BNC -PT 'MFDIB[PT J #SJHIUPO BM DBQEBWBOU 6OB SFDPQJMBDJØ GJEFEJHOF BNC CBOEFT FOUSF MFT RVBMT IJ IB FMT CBEBMPOJOT 5FMFHSBNB BNC i-B $IJDB EFM .FUSPw 6O EJTD RVF FOT DPOWJEB B WJVSF FO MB FSB QPQ

-MJTUB EhËMCVNT

.# / &' ( 6+/# +NFGHQPU (CNEQPGU 2.#<# ,#0'5

/#4+10# %#56+..1 2CRCNNQPC C NC VGXC O´ . B S J P O B $BTUJMMP ÏT V O B C P O B D B O U B O U B N C V O B CPOB WFV J BDBCB EF USFVSF BM NFSDBU TFV QSJNFS EJTD PO T BDPNQBOZB E *TNBFM %VF×BT 6O EJTD EFMT RVF GBO TPNJBS NPMU TFO[JMM QFSÛ M FYDFMtMFOU JOUFSQSFUBDJØ WPDBM BDPNQBOZBEB QFS MFT NFMPEJFT EF %VF×BT GB RVF OP OFDFTTJUFN SFT NÏT #SBWP &M E PDUVCSF FM QSFTFOUFO BM $$ %BMU MB 7JMB BNC FOUSBEB MMJVSF B

PÙVLFD

1FS 4BMUBNBSUÓ -MJCSFT

-MJTUFT GBDJMJUBEFT QFS 1SPNVTJDBF

OOLEUHV &MT NÏT WFOVUT -hVMUJNB DBSUB EF $PNQBOZ 5POJ 4PMFS &M EJB % "OUPOZ #FFWPS -B NË EF 'ÈUJNB *MEFGPOTP 'BMDPOFT

8'6 #37 .# 4+6# #8'06 /CTVC $CNC IWGT K %TKUVKPC .QUCPVQU .# )#.'4#

-MJTUB GBDJMJUBEB QFS 4BMUBNBSUÓ -MJCSFT

"WFOUVSFSB JOOPDFOU J EJWFS UJEB MB 3JUB ÏT MB NÏT QFUJUB J MB NÏT WBMFOUB EF MB GBNÓMJB EF SBUQFOBUT -J BHSBEB KVHBS J UBGBOFKBS DPOÒJYFS UPU FM RVF M FOWPMUB - BDPNQBOZFO FMT QBSFT J FMT TFVT HFSNBOT 5PU T Q MF H BU T W JVFO FO VO DBTUFMM QMF EF NJTUFSJ J EF TPSQSFTFT

$BOPOHF #BSBOFSB #BEBMPOB

XXX TBMUBNBSUJ DPN TBMUBNBSUJ!TBMUBNBSUÓ DPN

727 %DGDORQD

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

2%5$ 18(9$ & %$/'20(52 62/­

& 0$57Ì 38-2/ %$'$/21$

££$ OOHJDGR HO PRPHQWR GH FRPSUDU

%$'$/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

(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

2%5$ 18(9$ 5,(5$ 6$17 -25', 0217*$7

-8172 5(1)( 021*$7 3LVRV GH KDELWDFLRQHV H[WHULRUHV VRODULXP 3ODQWD G~SOH[ KDELWDFLRQHV \ EDxRV DVHR \ JUDQ WHUUD]D $FDEDGRV GH H[FHOHQWH FDOLGDG 9LVWDV PX\ DJUDGDEOHV ([FHOHQWH ]RQD MXQWR DO PDU 3DUNLQJ \ WUDVWHUR RSFLRQDOHV (175(*$ ,10(',$7$ 35(&,26 KDE VR ODULXP ½ '~SOH[ KDE \ JUDQ WHUUD]D ½ 2%5$ 18(9$ -72 0­*,& %'1

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

2%5$ 18(9$ (1 &$1(7 '( 0$5

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

-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

&$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

6L HV XVWHG 35202725 OOiPHQRV \ KDEODPRV

$YHQLGD %XIDOi 3ODQWD %DGDORQD

ZZZ P LQWHJUDO FRP

727 %DGDORQD

. *OUFHSBM QBH JOEE

HO WHX FDUUHU

$BSSFS EF 3JWFSP $BTBHFNFT J $FOUSF t /JDP MÈT .BSÓB 3JWFSP .PSØO EF MB 'SPOUFSB .BESJE

"EWPDBU NFUHF J QPMÓUJD $PO USJCVÓ BM USJPNG EF MB 3FWPMVDJØ EF 4FUFNCSF EF 'PV FMFHJU MhBOZ BMDBMEF EF

.BESJE J WB TFS QSFTJEFOU EF MFT $PSUT EF B J EF B &M OPN GPV BUPSHBU EVSBOU FM

QFSÓPEF EFM 4FYFOOJ 3FWPMV DJPOBSJ FO IPNF OBUHF B VO EFMT JNQVMTPST EFM MB 3FWPMVDJØ EFM

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

L 1 <L H< < 6

&c P 7

H " TL 1GT&1 H L ¯ĖûØ Øé ¼ØÐgÆ û āÐ

'JORVFT #MBODI 3PJH 4 -

6gû¼g P û āg Hؼ¯ » .Øā é ÆgÐ ¹ Hؼ¯

uL āċûØā gÆðĖ¼Æ ÐĖ

P Æí Ôď ď ďĬ « » Ôď ď Ô Ĭć ­ď ĉí ØÐðĖ āċg áĬ« xg¼ģØā » Ĭ ÔáĔ 1<7

F&L<L 7 1GT&1 H 1"3,*/( ;POB 3*&3" ."5".0304 QMB[B BODIB DPDIF QFRVF×P å NFT 1"3,*/( ;POB ."3*" "69*-*" 3"%03" QMB[B BNQMJB å NFT 1"3,*/( ;0/" .*26&- 4&37&5 QMB[B BNQMJB DPDIF Z NPUP å NFT ;0/" "7 ."35¶ 16+0- «UJDP FTUVEJP N IBC DPD PGJ DPNQMFUB FMFDUSJDP B B U[B 3&'03 ."%0 )"$& "º04 å NFT ;0/" 4*453&--4 "UJDP N IBCT DPD Z C× TFODJMMPT SFBM TJO BTD å NFT ;0/" .03&3" 1JTP EF N IBC DPDJOB BNFSJDBOB CB×P BNQMJP CBMDØO SFBM FYUFSJPS å NFT

;0/" 1&1 7&/563" N IBCT Z FTUVEJP DPN BNQMJP DPD Z CB×P NPEFSOPT B B DBMFG SFBM T BTD å NFT

;0/" 13&4*%&/5 $0.1"/:4 N IBCT DPN N DPD Z C×T .6: #*&/ $0/4&37"%0 å NFT

;0/" $ (6*'3² N IBCT NBUSJ JOEJW DPN N D TBMJEB B CBMDØO DPD OVFWB B FTUSFOBS TJO BTD å NFT

;0/" $ $".&-*" N IBCT C× DPNQM BTFP TBMØO EF N Z DPN U[B N TFNJ BNVFC 50%0 &95&3*03 å NFT

;0/" $ (3"- 8&:-&3 QJTP N IBCT NBUSJNPOJP D WFTUJEPS Z QM BMUJMMP CBMDØO UFDIPT EF NBEFSB DPN BNQMJP DPD Z C× NPEFSOPT B B SFBM T BTD å NFT ;0/" .03&3" QJTP N IBC DPNFEPS BNQMJP DPO CBMDØO " " DBMFGBD FYUFSJPS å NFT ;0/" 1&1 7&/563" QJTP N IBCT DPD Z DPN UJQP PGGJDF C×T B B DBMFG CBMDØO FYU 1"3" &453&/"3 å NFT

;0/" $ 503504" DBTB QMBOUBT N TFNJOVFWB IBCT C×T Z BTFP BTD QSJWBEP QL JODM 4&.* ".6&#-"%0 å NFT

F&L<L 7 ] 7P ;POB $ 10/&/5 QJTP IBCT DPN N DPD Z C× NPEFSOPT CBMDØO TJO BTD å NJMM

;0/" $ 130(3²4 EVQMFY EF N IBCT FTUVEJP DPN NVZ BNQMJP DPD NPEFSOB BMUP TUBOEJOH BTFP C× B B DBMFG U[B '*/$" "º0 å NFT

;POB $&/530 QJTP IBCT CB×P NPEFSOP DPD BSSFHM TJO BTD 3FGPS IBDF B×PT å NJMM

;0/" &45 .0/5("5 N IBCT DPN N DPD Z CB×P NPEFS OPT 50%0 &95 å NFT

;0/" "7 .03&3" QJTP IBCT NBUSJ Z JOEJW DPD BNQMJB C×T NPEFSOPT Z DPNQM DPN N CBMDØO N 50%0 &95 å NFT

;POB ."5"3» QJTP IBCT DPN N DPD Z C× EF PSJHFO BTD $0.1- &95&3*03 " 13*.&3" -*/&" %& ."3 å NJMM

;0/" 1&1 7&/563" N IBC NVZ BNQMJB DPN DPD CB×P DPO Q EVDIB CBMDØO T BTD .6: -6.*/040 å NFT

;0/" -" 4"-6% QJTP N IBCT NBUSJ Z JOEJW DPN Z DPD BNQMJPT C× DPNQM B B DBMFG 50%0 &95 å NFT

;POB #6'"-« ÈUJDP EF IBCT DPNFEPS BNQMJP C×T U[B Z CBMDØO &95 : 1&3'&$ $0/4&37"%0 å NJMM

;0/" 4"/5 "%3*® N IBCT U[B N DPD Z C× QFR B B FYU å NFT

QBH JOEE

1. .')+#6

$PM MFHJBU OVN

$PM MFHJBU O

1< 1 L 7 ] 7P ` 1GT&1 H 1"3,*/( "7 ."35* 16+0- DPDIF HSBOEF å ;POB (3"/ -"/% OBWF EF N UPUBM TFNJ OVFWB NVZ MVNJOPTB å ;POB $ /"7"5" MPDBM EF N QVFSUBT B DBMMF BDDFTP WFIÓDVMPT å NFT ;POB $ $&37"/5&4 MPDBM EJÈGBOP N N EF BMUVSB BTFP å NFT ;POB --03&%" MPDBM N BTFP QBUJP N TBMJEB EF IVNPT " &453&/"3 å NFT ;POB $ "-'0/40 9*** MPDBM EF N FO OJWFMFT DPD B B C× TVFMP QBSRVFU 0'*$*/" "-50 45"/%*/( å NFT ;POB $ 13*. N FN QMBOUB NBT N EF TPUÈOP ;0/" $0.&3$*" å NFT

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*$" '6/&3®3*" #%/

0'&35"4 %& 1*404 &/ "-26*-&3 -" 4"-6% $FSDB EFM .FSDBEP Z GVUVSB MÓOFB EF N 1JTP EF IBCJUBDJPOFT NVZ CJFO DPNVOJ DBEP .VZ MVNJOPTP (BTUPT EF DPNVOJEBE JODMVJEPT "-26*-&3 å .&4 3&' 4- $&3$" %& .0/5*("-" : . 1JTP EF IB BOUFT BNQMJP DPNFEPS DPDJOB Z CB×P SFGPS NBEPT TVFMP QBSRVFU "-26*-&3 å .&4 (BTUPT DPNVOJEBE JODMVJEPT 3&' #" +6/50 " -" $ $0-- * 16+0- 1JTP IBC BNVFCMBEP BNQMJP DPN DPO TBMJEB B CBMDØO FYU NVZ CJFO DPOTFSW *EFBM QBSFKBT P QBSB JOEFQFOEJ[BSTF "-2 å .&4 (BTUPT EF DPN JODM 3&' 4$ 4"/50 $3*450 +VOUP BM QPMJEFQPSUJWP 1JTP NVZ CJFO DPNVOJDBEP IBC BNVFCMBEBT DPNFEPS FYU B DBMMF CB×P DPNQ NVZ MVNJOPTP $BMFG Z B B "-2 å .&4 (BTUPT EF DPN JODM 3&' 4$ $ $0-- * 16+0- &O MB NJTNB DBMMF "NQMJP QJTP IBC NVZ MVNJOPTP Z FO DBMMF QSJODJQBM m ODB DPO BTD 4JO NVFCMFT "-26*-&3 å .&4 (BTUPT EF DPNVOJEBE JODMVJEPT 3&' 4$ +6/50 " $0-- * 16+0- 1JTP IBC UPUBMNFOUF SFGPS BNVFCMBEP DPO NVFCMFT OVFWPT Z FRVJQBEP $PNFEPS DPO TBMJEB B CBMDØO FYU B DBMMF "-2 å .&4 (BTUPT DPN JODM 3&' 4$ $0/(3&40 1JTP EF IBCJUBDJPOFT FO [POB NVZ CJFO DPNVOJDBEB "NVFCMBEP 5PUBMNFOUF FYUFSJPS B DBMMF "-26*-&3 å .&4 (BTUPT EF DPNVOJEBE JODMVJEPT 3&' $0

/106)#6 "+6/5".&/5 10-*$*" -0$"- $"1 .0/5("5

$&/530 $FSDB EFM NVTFP 1JTP EF N Z IBCJUBDJPOFT SFGPSNBEP Z FO m ODB DPO BTDFOTPS #BMDØO FYUFSJPS B $ "-26*-&3 å .&4 (BTUPT DPNVOJEBE JODMVJEPT 3&' $& .0/5*("-" "NQMJP QJTP FO m ODB EF QPDPT B×PT N IBC HSBO DPNFEPS MVNJOPTP "TD 1, */$- &/ &- 13&$*0 "-26*-&3 å NFT (BTUPT EF DPNVOJEBE JODMVJEPT 3&' .0

6+#0#

$&/530 *NQSFTJPOBOUF QJTP EF N DPO CBMDØO UJQP UFSSB[B EF N BTDFOTPS CB×PT UPEP OVFWP ;POB DPNVOJUBSJB DPO QJTDJOB 1, */$-6*%0 &/ &- 13&$*0 (BTUPT EF DPNVOJEBE JODMVJEPT "-26*-&3 å NFT 3&' $&

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

0'&35"4 %& 1*404 &/ 7&/5"

NC ZCTZC #6'"-" ``("/(" $ *OEFQFOEFODJB 1JTP IBC N DPD Z CB×P SFGPS DPD FRVJQ Z BNVF CMBEB *EFBM WJWJFOEB 13&$*0 å $605" %& å .&4 3&' #6

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

10."3 1JTP EF IBC UPUBMNFOUF FYUFSJPS B DBMMF 1BSB SFGPSNBS B TV HVTUP ;POB NVZ USBORVJMB Z CJFO DPNVOJDBEB 13&$*0 å $605" %& å .&4 3&' 10 "5*$0 +6/50 " -" 3".#-" 4"/ +6"/ $PO UFSSB[B EF N FYUFSJPS B DBMMF DPO WJTUBT QBOP SÈNJDBT IBCJUBDJPOFT DPDJOB EF N FYUFSJPS JNQFDBCMF CB×P SFGPSNBEP ``*%&"- 1"3" */%&1&/%*;"34& 103 å $605" %& å .&4 3&' 4$ 10."3 ``0$"4*0/ 1JTP EF N DPO IBCJUBDJPOFT FO [POB NVZ USBORVJMB $PDJOB Z CB×P SFGPSNBEPT QVFSUBT EF IBZB WFOU EF BMVNJOJP "NQMJB DPDJOB $PNQMFUBNFOUF FYUF SJPS B DBMMF 13&$*0 å $605" %& å .&4 3&' 10 -" .03&3" 1JTP N IBC ``*NQFDBCMF MJTUP QBSB FOUSBS B WJWJS .VZ CVFOB VCJDBDJØO Z DFSDB DFOUSP 0DBTJØO [POB QSFDJP 13&$*0 å $605" %& å .&4 3&' .3 #6'"-" +UP B .PMJ EF MB 5PSSF 1JTP EF IBC JEFBM WJWJFOEB $PD Z CB×P NVZ CJFO DPOTFSW #BMDØO FYU B DBMMF EF BMUVSB SFBM 13&$*0 å $605" %& å .&4 3&' #6 --&'*" +50 " %0$503 #"440-4 1JTP DPNQMFU FYU B DBMMF m ODB DPO BTD 4VFMP QBSRVFU DPNFEPS DPO TBMJEB B CBMDØO DPO FYDFM WJTUBT 13&$*0 å å .&4 3&' -'

TÀFKQU

4"/50 $3*450 "NQMJP QJTP FTRVJOFSP EF N IBCJUBDJPOFT BOUFT UPEP SF GPSNBEP BNQMJBT IBCJUBDJPOFT CB×P DPNQMFUP DPNFEPS FYUFSJPS DPO CVFOBT WJTUBT ``1SFDJPTP 13&$*0 å $605" %& å .&4 3&' 4$

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 '.

-" 4"-6% +50 " -" (6"3%*" 63#"/" "NQMJP QJTP EF N DPO IBCJUBDJPOFT BNQMJP DPNFEPS EF N DPO TBMJEB B CBMDØO 5PEP JNQFDBCMF 'JODB DPO BTDFOTPS T QBSRVFU Q SPCMF B B 13&$*0 å $605" %& å .&4 3&' 4- #6'"-" 1309*.0 "- $&/530 1JTP UPUBMNFOUF SFGPSNBEP FO m ODB DPO BTDFOTPS IBCJUBDJP OFT EPCMFT $PNFEPS DPO TBMJEB B CBMDØO FYUFSJPS B DBMMF DPDJOB Z CB×P OVFWPT 0SJFOUBEP B NBS $BMFGBDDJØO Z B B 13&$*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

OD OODU

NC NNCT

GHFRUDFLÓ FRQVHOOV PRELOLDUL 5HIRUPHV MDUGLQHULD

6O BJSF GSFTD B MB EFDPSBDJØ EFM CBOZ -M B S t / P NÏT D BM GFS VOB VMMBEB B BRVFTUFT JODSFÕCMFT SBKPMFT EF WJESF QFS GFS WFOJS HBOFT EF DBOWJBS MB DBNCSB EF CBOZ JNNFEJBUBNFOU *NB HJOFV WPT QSFOFOU VOB EVUYB QSPQ E VOB DBTDBEB USPQJDBM P CBOZBS TF B MB OPTUSB QSÛQJB QMBUKB QSJWBEB "NC (MBTTEFDPS QPEFN DPO WFSUJS FM OPTUSF CBOZ FO VO MMPD WFSJUBCMFNFOU ÞOJD J QFSTPOBM B NÏT TFHVS RVF EFJYBSFN B UPUIPN TFOTF QPEFS QBSMBS FM QSJNFS DPQ RVF FOUSJO J WFHJO BRVFTUT NPTBJDT EF SBKPMFT BM CBOZ " (MBTTEFDPS DPNQUFO BNC VO NVOU E JNBUHFT MB NBKPSJB E FMMFT BNC NPUJVT EF MB OBUVSBMFTB J BMHVOT EFMT EJTTFOZT FO % RVF DSFB VOB TFOTBDJØ FODBSB NÏT GPSUB E VOB EJNFOTJØ FYUFSJPS (SËDJFT B MB HSBO WBSJFUBU E JNBUHFT EJTQPOJCMFT FT QPU USPCBS RVBESFT RVF SFGMFD UFJYFO FM OPTUSF QSPQJ FTUJM J

6(55$//(5

/] PKX \OZK\KMSYX] K NYWSMSVS NO \OSbO] NO PO\\Y ZY\^O] PY\TK ZKXc] O^M MPF VHUUDOOHU#JPDLO FRP

7(/ L

HVTU - BMUB SFTPMVDJØ EF MFT JNBUHFT EF HSBO GPSNBU TPCSF FM NPTBJD NBUFSJBM JEPOJ QFS B MB TFWB BQMJDBDJØ FO FYUF SJPST J [POFT DBTUJHBEFT QFS

7HO

1"-&5"

5HSDUDFLyQ LQVWDODFLyQ \ PRWRUL]DFLyQ QR FREUDPRV GHVSOD]DPLHQWRV

5FM

QBH JOEE

(&21Ð0,&26 \ GH &21),$1=$ $/7$ '(&25$&,Ð1 < 3,1785$ (1 *(1(5$/ 3LVRV HVFDOHUDV ORFDOHV

2)(57$ 3LQWDPRV VX SLVR SRU ½

7HO

7(/

',5(&725, OODU

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

1"-&5" 1*/563" 3&'03."4

-".1*45" $0/ &91&3*&/$*" &/ BHVB MV[ DBMFGBDDJØO HBT GPOUBOFSJB DPMPDB DJØO BOUFOBT SFGPSNBT DPDJOBT CB×PT FUD 4F PGSFDF QBSB FNQSFTBT Z QBSUJDVMBSFT 5&-

)BDFNPT UPEP UJQP EF BSSFHMPT B CVFO QSFDJP 5&-

1"-&5" #0-*7*"/0

&-&$53*$*%"% '0/5"/&3*" Z 3&'03."4 &/ (&/&3"-

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

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

3(56,$1$6 - $

3$/(7$ /$03,67$ 5HDOL]R WRGR WLSR GH UHIRUPDV &RFLQDV %DxRV 6XHORV 7HFKRV GH SODGXU 3LQWXUD 0XHEOHV GH FRFLQD 3XHUWDV GH LQWHULRU $UPDULRV HPSRWUDGRV (WF 3UHVXSXHVWRV VLQ FRPSURPLVR

M BJHVB QFSNFU DSFBS FTQBJT USFNFOEBNFOU EJGFSFODJBUT EF HSBO JNQBDUF WJTVBM &MT TFVT EJTTFOZT TØO NPMU EV SBCMFT J SFTJTUFJYFO FMT DPO

&DØOPNJDP 5&-

4F PGSFDF QBSB UPEP UJQP EF USBCBKPT &DPOØNJDP 5&-

*/45"-"$*»/ %&

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

$BMFGBDDJØO "JSF "DPOEJDJPOBEP $BM EFSBT -V[ "HVB HBT &DPOØNJDP 5&-

1&3 1"3"6-&4 1&3 å ".# .*( 3&$6"%3& 1&3 å

727 %DGDORQD

OD OODU USBUFNQT EF MFT DPOEJDJPOT NFUFPSPMÛHJRVFT FO DBT EF RVÒ M VUJMJU[FN QFS NJMMPSBS M BTQFDUF EF MB EVUYB FYUFSJPS QFS FYFNQMF 5PUFT BRVFTUFT OPWFUBUT WÏOFO EF MB DPNQBO

ZJB (MBTTEFDPS RVF FTUË FT QFDJBMJU[BEB FO MB EFDPSBDJØ EF WJESF (MBTTEFDPS ÏT VOB GJSNB EF HÒOFTJ DMBSBNFOU NFTUJTTB /PNÏT DBM GFS VO DPQ E VMM BM TFV QSPEVDUF QFS B

SFDPOÒJYFS MB OBUVSBMFTB IJCSJ EB -B OPWB m SNB ÏT GSVJU E VO FODSFVBNFOU FOUSF GBCSJDBOU EF NPTBJD J BSUT HSËm RVFT EF HSBO GPSNBU < > HMBTTEFDPS FT

'0($)$* c 1 HKK>=>K: c ;BL:@K:=H c - + M´KFB<H c *L<BEH;:MB>GM> c ":E>K¸:L c E:K:;HR:L c (:FI:K:L /*' *.

NMHF:MBLFHL I:K: c HKK>=>KH F:KBGH MHE=HL R I>KLB:G:L c $GOBLB;E>L c 1>KMB<:E>L c />EHG>L c + -><MH c >G:=HK>L

N:EJNB>K =N=: <HGLÃEM>GHL R E> =:K>FHL E: LHEN<B½G

+ -.$ ) . c +1 c ENFBGBH c .>@NKB=:= c (:EEHKJNBG: c :EE>LM:

F:BE MHE=HLFH;>E!AHMF:BE <HF

PPP MHE=HLFH;>E <HF />E /:EE>K +>K> (:KM>EE ;CHL :=:EHG:

727 %DGDORQD

QBH JOEE

OD OODU

*Om OJUZ J &MJ[BCFUIB

-MBS t *Om OJUZ ÏT MB OPWB QSP QPTUB EF 7JDFOUF 4PUP QFS B WFTUJS FMT NFOKBEPST NÏT NP EFSOT 2VBUSF NPEFMT BNC VOB QFSTPOBMJUBU RVF SFTQJSB TPm T UJDBDJØ B DBEB QFÎB 3FTQBU MMFST BMUT J NBKFTUVPTPT QFS B BDDFOUVBS M FMFHËODJB EFMT FT QBJT P SFTQBUMMFST NÏT CBJYPT JEFBMT QFS B WFTUJS FOUPSOT NÏT PCFSUT J TVHHFSJEPST &M TFV BMU OJWFMM QFSNFU FOUBQJTTBS FO

RVBMTFWPM UFJYJU J MB QPTTJCJMJUBU EF UJOUBS M FTUSVDUVSB NFUËMtMJDB FO CMBOD &MJ[BCFUIB +BJNF #PV[B HMP IB DPODFCVU B &MJ[BCFUIB DPN VOB SFJOB CFMMB TFOTVBM J FMFHBOU 6OB QFÎB QMFOB EF NBHOFUJTNF BSSJCBEB E VO NØO EF TFOUJNFOUT J QPFTJB "JYÓ FO MB TFWB WFSTJØ DBEJ SB &MJ[BCFUIB BNC MFT TFWFT QPUFT UBMMBEFT FO QVOUB FOT

Õ ÃÊ "]Ê-° °

SFDPSEB B VOB CBMMBSJOB OPWF MMB -B WFSTJØ EF EVFT QMBDFT CBUFKBEB -}"NPSFVY FWPDB B EPT BNBOUT BCSBÎBUT QFS MB DJOUVSB RVF FT QSPUFHFJYFO J FT NPTUSFO BGFDUF -B GBNÓMJB FT DPNQMFUB BNC MB CVUBDB RVF FOT BDVMM BNC FMT TFVT CSBÎPT DPSCT J FOT QSPQPSDJPOB VOB TFOTBDJØ EF CFOFTUBS EJHOB E VO DPOUF EF GBEFT 7JTU B JOGVSNB FT

*/ 50 4 6& 4 * 40 1 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

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 727 %DGDORQD

!$!04!-/3 ,! !.4%.! #/,%#4)6! !, .5%6/ 3)34%-!

,/0%:

+"3%*/&3*" .0/²4 (­JNBG:L => <HL>K

OD OODU

(/(&7520$57, 6 /

505 &- 26& /&$&44*5&4 1&- 5&6 +"3%* * 5&33"44"

4 $ 4

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

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

B PW C / F 8

9(17$ < 5(3$5$&,Ï1 5(&2*,'$ $ '20,&,/,2 */45"-"$*»/ : 3&1"3"$*»/ %& "/5&/"4 57 : 1035&304 "650.«5*$04

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

$0#&35&4 * '"±"/&4 4 - -" $"-*%"% %&- 130'&4*0/"-

$ (VJGSÏ #BEBMPOB 5FM Z 'BY

| | | | #NHQPUQ :++ | $#&#.10# 6GN | YGD YYY EQ[HG EQO | G OCKN EQ[HG"EQ[HG EQO |

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

'&33&5&3*" #3*$0*/4" 4 - 'FSSFUFSJB t &MFDUSJDJUBU t #SJDPMBUHF +BSEJOFSJB t &MFDUSPEPNÒTUJDT t .FOBUHF $ 'SBODFTD -BZSFU 5FM #%/ r $ 9JMF 5FM #%/ 727 %DGDORQD

QBH JOEE

OD OODU 3&1"3"$*» t */45"-r-"$*» .0503*5;"$*» "/:4 %& ("3"/5*" /0 $0#3&. %&41-"±".&/5 &- ."3&4.&

#"%"-0/"

(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

SFTTBUT 4J FTUBO JOUFJBOB 5 B TPN

XXX DPNBDBTBUJBOB DPN

5FM

QSFHVOUBS QFS /ÞSJB 1MBDFT MJNJUBEFT

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

Z QÈHV

3&'03."4 &/ (&/&3"#-*/%"%"4 r */5&3*03&4

"W 1SFTJEFOU $PNQBOZT #"%"-0/"

t 4&37&* %0.µ45*$ t 4&37&*4 104"%" " 16/5 t /&5&(&4 %& 90$ t 4&-&$$*» %& 1&340/"-

"-5*--04 r .63"-&4 $0$*/"4 r #"º04 1"326&5 r "-6.*/*0 .6&#-&4 " .&%*%" #BMEPNFS 4PMË #BEBMPOB 5FM 'BY

5HSDUDFLyQ GH ODYDGRUDV IULJRULÀ FRV FDOHQWDGRUHV FRFLQDV KRUQRV HQFLPHUDV HWF ,QVWDODFLRQHV GH $LUH $FRQGLFLRQDGR $YGD 0DUWL 3XMRO %DGDORQD

7HO

(678', ' $57 &856 $'8/76

5BODBNFOUT 'JOTBS %*453*#6*%03 0'*$*"-

t "¸--".&/5 5µ3.*$

$MBTTJD %JCVJY 1JOUVSB .PTBJD (SBWBU

t "¸--".&/5 "$Á45*$ t 4&(63&5"5

)PSBSJ EJNFDSFT J EJWFOESFT UBSEB

t &45"-7*

*OGPSNBDJØ

7HO

QBH JOEE

$ 4BOU #SÞ #"%"-0/" 5FM MBSSBO[!IPUNBJM FT

727 %DGDORQD

OD OODU

*/% #"%"-0/" - ÞT EF QMBOUFT -*.1*&;"4 +0&7564+#.'5 ; 2#46+%7.#4'5 BVUÛDUPOFT &'5#6#5%15 &' 67$'4 #5 21<15 (15#5 5 26+%#5 ' +070&#%+10'5

$FSWBOUFT #"%"-0/"

6SHFODJBT MBT IPSBT JODMVTP 'FTUJWPT 5FM

Ê

Z 'BY /0 5*3& 46 %*/&30 $0/4Á-5&/04

-FT QMBOUFT BVUÛDUPOFT FTUBO BEBQUBEFT BM SÒHJN IÓESJD EF MB [POB B MB UFNQFSBUVSB J BM UJQVT EF UFSSB 4FSWFJYFO E FMFNFOUT JOUFHSBEPST FO USF FM NFEJ VSCË J FM SVSBM P OBUVSBM J TØO MFT NÏT BQSP QJBEFT QFS SFTUBVSBS QBJTBU HFT EFHSBEBUT QFS JNQBDUFT BNCJFOUBMT "RVFTUFT QMBOUFT QFSNFUFO DSFBS WJWFST EF QMBOUFT BVUÛD UPOFT BMT TFVT MMPDT E PSJHFO J CFOFm DJBS M FDPOPNJB EF MFT [POFT SVSBMT 1FSÛ QSFTFOUFO EJGFSFOUT JO DPOWFOJFOUT DPN QFS FYFN QMF RVF NPMUFT E FMMFT FT EFTDPOFJYFO BMHVOFT TØO EF DSFJYFNFOU MFOU P CBJYFT TPCSFUPU FMT BSCSFT J E BMUSFT QPEFO QSFTFOUBS DBSBDUFSÓT UJRVFT RVF OP MFT GBO EFM UPU EFTJUKBCMFT BM KBSEÓ &M DMJNB NFEJUFSSBOJ FODB SB RVF FT EFm OFJY QFS VOFT DBSBDUFSÓTUJRVFT HFOFSBMT DPN QPEFO TFS M FYJTUÒODJB E VO QFSÓPEF TFD J DBMPSØT EF NÏT P NFOZT USFT NFTPT J VO IJWFSO NÏT P NFOZT QMV KØT J UFNQFSBU QSFTFOUB VOB OPUBCMF WBSJBCJMJUBU FO GVODJØ TPCSFUPU EF MB NJUKBOB EF MFT UFNQFSBUVSFT NÓOJNFT EFM NFT NÏT GSFE DPN ÏT FM DBT EF NPMUFT [POFT EF M JOUFSJPS J P NVOUBOZPTFT EF MB 1FOÓO TVMB J EF MFT QSFDJQJUBDJPOT NJUKBOFT "RVFTUT EPT FMFNFOUT VOJUT B MB OBUVSBMFTB EFM UFSSB DBMESË UFOJS MPT CFO FO DPNQUF QFS FTDPMMJS MFT FTQÒDJFT BEFRVB EFT J UFOJS ÒYJU FO MFT QMBOUB DJPOT

QBH JOEE

3&)"#*-*5"$*0/4 5*"/" '"±"/&4 $0#&35&4 "326*5&$563" $0/4536$$*»

5FM

SFIBCJMJUBDJPOTUJBOB!HNBJM DPN

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

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

$BMJG FNQSFTBSJBM OÞN

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

727 %DGDORQD

DFWXDOLWDW µYJU EF M &TDPMB EF 7FOU EFM $MVC /ËVUJD #ÒUVMP B MB USPCBEB UBSPOKB

#BEBMPOB t $PN DBEB BOZ MB 'FEFSBDJØ $BUBMBOB EF 7F M B WB PS H B O J U [ BS B M F T JOTUBMtMBDJPOT EFM 1PSU 0MÓN QJD EF #BSDFMPOB MB 5SPCBEB 5BSPOKB RVF ÏT MB GFTUB m EF DVST EF UPUFT MFT FTDPMFT EF WFMB EFMT DMVCT EF $BUBMVOZB

- FTDPMB EFM $MVC /ËVUJD #ÒUV MP RVF EJSJHFJY FM DBNQJØ EF TVSG 'FSSBO 3FDBTFOT IJ WB TFS QSFTFOU BNC VO HSVQ RVF SFQSFTFOUBWB QBSU EFMT NPMUT BMVNOFT RVF IJ IB QBTTBU BRVFTU FTUJV &SB M FRVJQ NÏT KPWF EF UPUT FMT QSFTFOUT VO

E FMMT BOZT J WBO EFNPTUSBS BNC MB TFWB BDUVBDJØ RVF UBNCÏ FSFO EFMT NÏT CFO QSFQBSBUT UBOU FO FM FOTJOJT USBNFOU DPN BNC MFT TFWFT DPOEJDJPOT EF OBWFHBOUT BNC WFOUT GPSÎB EVST DPN FMT EF MB UBSEB

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

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

)*10-*50 -";"30 # 4"-65 /07" 130.0$*0 #Y N 1JTPT N IBC CBOZT DVJOB PGG NFOKBEPS FTUVEJ UFSSBTTFT USBTUFST %FT EF B &VSPT N å 3".#-" $&/53& IBC DVJOB CBOZ NFOKBEPS WJTUFT NBS SFGPSNBU å 3".#-" $&/53& 1-"/5" #"*9" IBC DVJOB CBOZ NFOKBEPS QBUJ JOUFSJPS å 4"/5 .*26&- $&/53& IBC DVJOB CBOZ NFOKBEPS TBGSFJH UFSSBTTB N å 3 ."5".0304 $&/53& N IBC CBOZ BTFP UFSSBTTB N NPMU BNQMJ FYUFSJPS å 3&1 10356(6&4" 3"7"- 1-"/5" #"*9" IBC DVJOB CBOZ NFOKBEPS QBUJ USBTUFS å $0-0. 130(3²4 1MBOUB #BJYB IBC DVJOB NFOKBEPS CBOZ QBUJ N å 4"3"(044" 3"7"- IBC DVJOB NFOKBEPS CBOZ TBGBSFJH B DPOEJDJPOBU QBSRVFU å 4"3%"/" #6'"-® IBC CBOZ DVJOB NFOKBEPS UPU SFGPSNBU å 4"-06 45 .03* IBC CBOZ DVJOB TBGBSFJH BTDFOTPS å 1- #"%"-0/" 3"7"- IBC DVJOB CBOZ NFOKBEPS SFGPSNBU å $"-%&30/ 4"#"%&-- IBC DVJOB NFOKBEPS CBOZ UFSSBTTB QL USBTUFS å $&37"/5&4 3"7"- IBC DVJOB TBGBSFJH CBOZ NFOKBEPS OPV å "1"35".&/5 " #&/*%03. IBC QFSTPOFT QL QJTDJOB å

7*" "6(645" '30/5 )041*5"- 0'* 1- Á/*$" MBWBCPT EJWJTJPOT UTTB å 1035 1"5¶ %& 7&-" N N BMÎBEB /06 å #6'"-" 4"3%"/" N QMBOUFT BDD BTFPT PQD PGJD BOFYFT N å 1307*%&/$*" .&3$"5 503/&3 . "EFDVBU QFS PGJ QMBOUFT DBOUPOFS å 503/&3 30(&3 %& '-03 N QMBOUFT J TPUBOP å $"-%&30/ 4"#"%&-- N N QBUJ å $"3.& $"/0/(& # N BTFP å 13*. $&/53& BTFP N B SFGPSNBS å "-'0/4 9** 130(3²4 N NBHBU[FN BMUB TVN å 1307*%&/$*" .&3$"5 503/&3 N TPUFSSBOJ NBHBU[FN BOFYF å &453&--" 4*453&--4 N å 1+ 3*6 --0#3&("5 --03&%" N BEFDVBU PGJDJOFT å #"*-&/ #6'6-® N å .0/5*("-" $ .*-® N N BMUFMM HVBM CBOZ å +0"/ 7"-&3" --&'*" N å 304&--" 53"45&3 N å

1*404 * $"4&4 &/ 7&/%" '30/5 ."3*5*. N IBC CBOZT DVJOB NFOK QL B D N UTTB 1, USBTUFS å 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 %Á1-&9 IBC CBOZT DVJOB TBGBSFJH NFOKBEPS CBMDPOT å 130(3&4 &EVBSE .BSJTUBOZ IBC CBOZT DVJOB NFOKBEPS UFSSBTTB QL HSBO /06 MMPHBU DPOUSBDUF BOZT å 5&*® IBC CBOZT DVJOB TBGBSFJH NFOKBEPS UFSSBTTB QFS SFGPSNBS å ;0/" 130(3µ4 /07" $0/4536$$*» IBC BSNBSJT FODBTUBUT CBOZT DVJOB TBGBSFJH NFOKBEPS N BNQMJFT UFSSBTTFT QL USBTUFS N DMJNBUJU[BU å $&/53& $BSSFS -MFP IBC DVJOB CBOZ NFOKBEPS QBUJ QFS SFGPSNBS å "64*"4 ."3$) IBC DVJOB TBGBSFJH CBOZ NFOK UPU SFGPS BNC BSNBSJT FODBTUBUT å

1 - " $ & 4 % & 1" 3 , * / ( 1-"/" å (6*'3² $059& (3"/ å (&3.® +6-* $059& 1&5*5 &/ 7&/%" å

-0$"-4 &/ 7&/%" 7*" "6(645" 0'*$*/&4 1-"/5" Á/*$" MBWBCPT BNC EJTUSJCVDJPOT UFSSBTTB QPTT EF FEJGJDBS å #"3 * /&(0$* +6-* ("-7&; #3640/ N CBOZ J UFSSBTTB å 0'*$*/" "- $045"5 "+6/5".&/5 #%/ N CBOZ J UFSSBTTB å "-'0/4 9*** 1"-"6 0-*.1*$ FOUSFTPM å

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

727 %DGDORQD

QBH JOEE

XXX TBMWBUBTTFTTPST DPN

WHQGÈQFLHV

VGPFÇPEKGU &RPHUÇ SURSHU HO FRPHUÇ GH FDVD

%FTm MBEB B #BEBMPOB DPOUSB FM DËODFS EF NBNB -B 4BMVU t -B +VOUB -PDBM EF #B EBMPOB EF M "TTPDJBDJØ &TQBO ZPMB $POUSB FM $ËODFS BFDD

KVOUBNFOU BNC FM QFSSVRVFS .BOFM #BEBIPNF J M BHÒODJB EF NPEFMT (P .PEFMPT Z "DUPSFT WBO PSHBOJU[BS EJWFOESFT QBT TBU MB 1BTTBSFMtMB #BFUVMP EF .PEB VOB EFTm MBEB FO CFOFm DJ EF MB MMVJUB DPOUSB FM DËODFS EF NBNB %VSBOU MB WFUMMBEB FT WBO SFDBQUBS HBJSFCÏ FVSPT - BDUF RVF WB UFOJS MMPD B MB $BS QB EF 5JUVT WB DPNQUBS BNC MB QSFTÒODJB EF EJWFSTFT QFSTP OBMJUBUT CBEBMPOJOT EF M ËNCJU TPDJBM J QPMÓUJD DPN FM QSJNFS UJOFOU E BMDBMEF 'FSSBO 'BMDØ 1FS MB $BSQB UBNCÏ WBO EFTm MBS NPEFMT QSPGFTTJPOBMT QSPWJOFOUT EF M BHÒODJB (P .PEFMPT &MT BTTJTUFOUT WBO QPEFS DPMtMBCPSBS GFOU VOB DPOUSJCVDJØ TPMJEËSJB EF FVSPT FO DPODFQUF E FOUSBEB -FT BQPSUBDJPOT RVF T IBO PC UJOHVU IBO BOBU EFTUJOBEFT ÓO UFHSBNFOU B M "TTPDJBDJØ $PO USB FM $ËODFS QFS m OBOÎBS FMT

QSPKFDUFT QFS B MB MMVJUB DPOUSB FM DËODFS EF NBNB RVF UÏ FO NBSYB M FOUJUBU &O FM USBOTDVST EF MB EFTm MBEB FT WB QSPKFDUBS VO WÓEFP EF SFDPM[BNFOU B MB MMVJUB DPOUSB FM DËODFS EF NBNB

NB UÏ DPN B PCKFDUJVT GPNFOUBS FM EJBHOÛTUJD QSFDPÎ EF MB NBMBM UJB B MB QPCMBDJØ HFOFSBM QSPQPS DJPOBS VO NJTTBUHF E FTQFSBOÎB J DVSBDJØ EFM DËODFS EF NBNB J JOGPSNBS EFMT SFDVSTPT QTJDPTP DJBMT FYJTUFOUT B M BFDD QFS B MFT EPOFT BGFDUBEFT

$BNQBOZB "FDD DPOUSB FM DËODFS EF NBNB -B $BNQBOZB EFM DËODFS EF NB

< > XXX BFDD FT

-B EJTDPUFDB EFM .BSFTNF

% JT

TBC 0# UFT / J &3 5 U

1BG> : ;:EE:K :F; E: FÃLB<: 1BG> : ;:EE:K :F; E: FÃLB<: =>EL FBEEHKL :GRL => E: M>O: OB=: =>EL FBEEHKL :GRL => E: M>O: OB=: $PVOUSZ 'VOLZ 4BMTB #MVFT %BODF 4XJOH H *OGPSNBDJØ J SFTFSWFT 5FM $BNJM 'BCSB $SVÕMMB $USB Eh"MFMMB t &- ."4/06 1ËSRVJOH ;POB VSCBOJU[BDJØ #FMM 3FTHVBSE t CFMMSFDP!IPUNBJM DPN

GLVFRWqTXH

ÕÌ iÌ

" Ê / $ +PTFQ . $VZËT J 5PMPTB .POUJHBMË #BEBMPOB

V VV

3

5FM " N EFM $BSSFGPVS EF .POUJHBMË XXX DPDDPMJOP FT

40.04 '"#3*$"/5&4

QBH JOEE

727 %DGDORQD

WHQGÈQFLHV

&M CJFOFTUBS JOUFSJPS JOGMVZF FO MB CFMMF[B FYUFSJPS 3FDVQFSB UV FRVJMJCSJP 3CMB 4BOU +PBO % -MPSFEB

5F M EFTQVÏT EFM WFSBOP %&41*&35" 564 4&/5*%04 $PO OVFTUSBT ÞMUJNBT UFOEFODJBT .FTPUFSBQJB GBDJBM Z DPSQPSBM 1FFMJOH DPSQPSBM $IPDPMBUFSBQJB 'BOHP BOUFT EFTQVÏT /BSBOKB .BOEBSJOB 2VJSPNBTBKF 'PUPEFQJMBDJØO EF HFOFSBDJØO 5SBUBNJFOUPT EF BDOÏ NBODIBT .JDSPQJHNFOUBDJØO %FQJMBDJØO BOUFT EFTQVÏT .BOJDVSB Z 1FEJDVSB

*/'»3."5& %& /6&453"4 130.0$*0/&4

/BUBMJB 5PTDBOP $&/53& %h&45µ5*$" 3PHFS EF 'MPS #"%"-0/" 5FM

&MJNJOB HSBTB DFMVMJUJT Z SFBö SNB DPO -*10."44"(& MB UFDOPMPHÓB FYDMVTJWB EF -1(

/07&%"% 3BEJPGSFDVFODJB

RV VQXWHUHVHV L F L DP

Q Q D L Q V L ) LHQWR WUDWDP

5FDOPMPHÓB BOUJGMBDJEF[ DPSQPSBM Z GBDJBM 7&/5" %& 130%6$ 504

$-"44&4 %& 3&45"63"$*» .0#-& * 1*/563"

3BNCMB 4BOU +PBO B QSPQ EF $BO $BCBOZFT

).)#)!g4 !, 0!4#(7/2+ #REA COSES NOVES AMB TROSSETS DE ROBA

0LA¥A DEL 3OL N s "ADALONA

4g(/ 0!33!2±3 -/,4 "¡

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

DJ VFTU BOVO 1PSUBOU BR " (3"5*4 ."53¶$6

t 5POJm DBDJØ $IJ LJOH 5BOHP $ 1SJN O QJT 5FMÒGPO CBEBMPOB! NJOVUPT OFU XXX NJOVUPT OFU

727 %DGDORQD

QBH JOEE

PHGLFLQD

OGFKEKPC

IDUPÁFLHV GH WRUQ FRQVHOOV PHWJHV VDOXW

-B QBTUJMMB EF M FOEFNË KB FT QPU PCUFOJS TFOTF SFDFQUB B MFT GBSNËDJFT 4BMVU t -B QBTUJMMB EF M FOEFNË KB FT QPU WFOESF TFOTF SFDFQUB B MFT GBSNËDJFT "NC BRVFTUB NFTVSB FT QSFUÏO SFEVJS FM OPN CSF E FNCBSBTTPT OP EFTJUKBUT FOUSF MFT NFOPST EF BOZT YJGSB RVF M BOZ QBTTBU WB TVQFSBS FMT B &TQBOZB %F GFU M BOVMrMBDJØ EF MB OFDFTTJUBU EF QSFTFOUBS VOB QSFTDSJQDJØ NÒEJ DB QFS QPEFS UFOJS BDDÏT B MB QÓOEPMB GB RVF MB TFWB PCUFODJØ B MB GBSNËDJB TJHVJ JOTUBOUËOJB DPTB RVF CFOFGJDJB M VTVËSJB BUÒT RVF FM QSPEVDUF OPNÏT ÏT FGFDUJV TJ ÏT JOHFSJU DPN B NPMU UBSE IPSFT EFTQSÏT E IBWFS TF QSPEVÕU FM DPOUBDUF TFYVBM -B EFTBQBSJDJØ EFM SFRVJTJU EF

MB SFDFQUB QFS QPEFS PCUFOJS MB QÓOEPMB GB RVF &TQBOZB TF TVNJ B QBÕTPT DPN BSB )PMBOEB 4VÒDJB 'SBOÎB J 4VÕTTB FOUSF BMUSFT " $BUBMVOZB MFT EPOFT RVF WVM HVJO MB QBTUJMMB EF M FOEFNË UÒD OJDBNFOU DPOFHVEB DPN B BOUJ DPODFQDJØ IPSNPOBM E VSHÒODJB QPESBO BDVEJS B RVBMTFWPM EF MFT GBSNËDJFT FYJTUFOUT 4FHPOT FM NJOJTUFSJ MB NFTVSB GBDJMJUB M BDDÏT BM GËSNBD BNC M PCKFDUJV EF SFEVJS FM OPNCSF E FNCBSBTTPT OP EFTJUKBUT FO KPWFT J BEPMFTDFOUT .ÏT EF NFOPST FT WBO RVFEBS FO FTUBU FM B &TQBOZB EF MFT RVBMT WBO BWPSUBS

"NC DBEB EJTQFOTBDJØ JOGPSNBDJØ TPCSF BMUSFT BOUJDPODFQUJVT +VOUBNFOU BNC MB QÓOEPMB FT EPOBSË JOGPSNBDJØ TPCSF DPN GFS MB TFSWJS J TPCSF BM USFT NÒUPEFT DPOUSBDFQUJVT NBUFSJBM RVF IB FTUBU DPO TFOTVBU FOUSF FMT NBUFJYPT GBSNBDÒVUJDT NFUHFT J FYQFSUT FO TFYPMPHJB %F GFU FM QBTTBU EJWFOESFT FT WB DPNFOÎBS B EJTUSJCVJS B MFT GBSNËDJFT FMT NBOVBMT RVF EFUBMMFO FMT DSJUFSJT B TFHVJS QFS EPOBS MB QBTUJMMB RVF OP T IB E VUJMJU[BS DPN B NÒUPEF BOUJDPODFQUJV IBCJUVBM TJOØ OPNÏT FO TJUVB DJPOT FYDFQDJPOBMT

%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 #% #% # # #

QBH JOEE

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 &WBMVBDJØO OFVSPQTJDPMØHJDB SFIBCJMJUBDJØO DPHOJUJWB

1TJDPUFSBQJB

'BNJMJBS Z QBSFKB )PSBT DPOWFOJEBT

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

5FM

IDUPÁFLHV

'U 5DPyQ 1RYHOO L $OVLQD 6XVDQQD (VWHED L &DVWLOOR 3VLTXLDWULD 3VLFRORJLD L 1HXURSVLFRORJLD

JXÁUGLD GLÛUQD

J C J

$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

PHGLFLQD

. %0-034 ."4 %&-#-"/$)

&KUUCDVG F QEVWDTG "(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

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

//$5 )$0,/,$5 7,$1$ /ODU SHU JHQW JUDQ DXWzQRPD

&KWOGPIG F QEVWDTG "(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

FHQWUH GH GLD HVWDGHV ¿ [HV HVWDGHV L KRUHV FRQYLQJXGHV JUDQ MDUGt L FDUSD

&GN &KNNWPU F QEVWDG CN FKXGPFTGU F QEVWDTG JUDQ MDUGt L FDUSD

FXLQD SUzSLD

KDELWDFLRQV GREOHV L LQGLYLGXDOV

DFWLYLWDWV

"(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

$YGD 9LOHVD 7LDQD 7HO ZZZ OODUIDPLOLDU FRP LQIR#OODUIDPLOLDU HV

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 F QEWDTG '&33² $-"1&4 "W . 1VKPM 7*":/" "W 1SFTJEFOU $PNQBOZT

&KWOGPIG F QEWDTG

$ 4 B OU # SV #" * 90 4

16+0- -FQBOU 7*":/" "W 1SFTJEFOU $PNQBOZT

&KNNWPU F QEWDTG

%SB . $"3.& 1"3²4 )0.&01"5*"

&416/: +PBRVJN 3VZSB 7*":/" "W 1SFTJEFOU $PNQBOZT

&KOCTVU F QEWDTG

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

"+" "W .PSFSB 7*":/" "W 1SFTJEFOU $PNQBOZT

&KOGETGU F QEWDTG 4"/5&% 2VFWFEP 7*":/" "W 1SFTJEFOU $PNQBOZT

&KLQWU F QEVWDTG $"4".":03 4JNBODBT 7*":/" "W 1SFTJEFOU $PNQBOZT

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

&KXGPFTGU F QEVWDTG

7ÓB "VHVTUB #BEBMPOB

7"-&30 (VJGSÏ 7*":/" "W 1SFTJEFOU $PNQBOZT

727 %DGDORQD

QBH JOEE

PHGLFLQD

*OWFTUJHBEPST EF $BO 3VUJ EFNBOFO QSVEÒODJB EBWBOU FM EFTDPCSJNFOU E VOB WBDVOB RVF SFEVFJY FM DPOUBHJ EF MB TJEB FO VO $BOZFU t -B DBSSFSB QFS B MB SFDFSDB E VOB WBDVOB EF m OJUJWB DPOUSB MB TJEB IB GFU VO HSBO QBT FOEBWBOU 6O HSVQ EF DJFOUÓm DT BNFSJDBOT J UBJMBOEFTPT IB QSFTFOUBU VOB WBDVOB FO QSPWFT RVF SFEVFJY FM DPOUBHJ EF MB NBMBMUJB FO VO GSVJU EF MB DPNCJ OBDJØ EF EVFT WBDVOFT RVF BOUFSJPSNFOU IBWJFO EPOBU SFTVMUBUT OFHBUJVT &T USBDUB EF MB QSJNFSB WBDVOB EF MB TJEB BNC VO FGFDUF QSFWFOUJV 5PU J M BWFOÎ FMT JOWFTUJHBEPST DBUBMBOT EFNBOFO DBVUFMB KB RVF BRVFTUB JOWFTUJHBDJØ

FT USBDUB OPNÏT E VOB iQFÎB E JOGPSNBDJØw NPMU JNQPSUBOU QFS B GVUVSFT SFDFSRVFT 4F HPOT FMT FYQFSUT VO EF SFEVDDJØ EF MFT JOGFDDJPOT ATFNCMB NPMU QFSÛ OP IP ÏT KB RVF DPN B NÓOJN DBM BSSJCBS m OT B VO FO FM DBNQ EF MFT WBDVOFT &M $FOUSF E &TUVEJT &QJEFNJP MÛHJDT TPCSF MFT *OGFDDJPOT EF 5SBOTNJTTJØ 4FYVBM J 4JEB EF $BUBMVOZB BNC TFV B #BEB MPOB $&&*4$"5 IB SFCVU BNC iTPSQSFTBw FM SFTVMUBU EF M FTUVEJ RVF PCSF MFT QPSUFT B

5(6,'Ë1&,$ *(5,­75,&$

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

&.* 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

& $QWRQL *DXGt SREOH

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

7HO

VOB WBDVOB EFm OJUJWB EF MB TJ EB &M EJSFDUPS EFM $&&*4$"5 +PSEJ $BTBCPOB EFTUBDB RVF iFM QSPEVDUF ÏT FM SFTVMUBU EF MB CBSSFKB EF EVFT WBDVOFT RVF QSÒWJBNFOU IBWJFO EPOBU SFTVMUBUT OFHBUJVTw $BTBCPOB IB NBUJTBU QFSÛ RVF BRVFTUB WBDVOB FO QSP WF T Ï T O P N Ï T V O B i Q F Î B E JOGPSNBDJØw QFS B GVUVSFT JOWFTUJHBDJPOT &M EJSFDUPS EFM $&&*4$"5 BGFHFJY RVF M BQMJDBDJØ E BRVFTUB WBDVOB FODBSB iRVFEB NPMU MMVOZw KB RVF VO E Fm DËDJB ÏT VO QFSDFOUBUHF NPMU CBJY +PSEJ

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

-B WBDVOB RVF T IB EFTDPCFSU B 5BJMËOEJB CBUFKBEB DPN B 37 ÏT GSVJU E VOB JOWFT UJHBDJØ BNC QFSTPOFT RVF T BSSPTTFHB EFT EF M BOZ " $BUBMVOZB VO EFMT JOWFTUJHBEPST EFM QSPKFDUF E JOWFTUJHBDJØ J EFTFOWPMVQB NFOU EF MB WBDVOB EF MB TJEB )*7"$"5 $ISJTUJBO #SBO EFS FT NPTUSB FTQFSBOÎBU QFSRVÒ BSB iVOB WBDVOB DPO USB MB TJEB ÏT QPTTJCMFw 5PU J M BWFOÎ #SBOEFS UBNCÏ GB VOB DSJEB B MB QSVEÒODJB i"JYÛ OP ÏT FM m OBM J OP EP

&3

OBSË VOB WBDVOB EFGJOJUJWB BM NFSDBU QFSRVÒ OP UÏ QSPV QPUÒODJBw FYQMJDB "RVFTU JOWFTUJHBEPS EJV RVF DBMFO WBDVOFT NÏT QPUFOUT RVF BTTFHVSJO BMNFOZT VO FO MB SFEVDDJØ E JOGFDDJPOT #SBOEFS BGFHFJY RVF BSB DBM FTUVEJBS NÏT FMT QBDJFOUT RVF IBO QBSUJDJQBU FO MB JOWFTUJHB DJØ B 5BJMBOEJB iQFS FOUFOESF DPN GVODJPOB MB WBDVOBw %FT EFM QSPKFDUF )*7"$"5 UBNCÏ T FTUË FMBCPSBOU VO FTUVEJ TJ NJMBS BM RVF BSB IB DPODMÛT B 5BJMËOEJB UPU J RVF FM OJWFMM EF EFTFOWPMVQBNFOU E BRVFTUB JOWFTUJHBDJØ ÏT FODBSB NPMU CBJY TFHPOT IB FYQMJDBU #SBO EFS i" 5BJMËOEJB IBO USJHBU TJT BOZT B PCUFOJS SFTVMUBUT J BRVÓ FTUFN FO VOB GBTF FODBSB NPMU FNCSJPOËSJBw IB BGFHJU

&(175( 2'2172/Ò*,& 35,9$'2 2GRQWRORJLD JHQHUDO ,PSODQWRORJLD L FLUXUJLD 2UWRGzQFLD 3HULRGzQFLD

PHGLFLQD

$BTBCPOB DPODMPV RVF MB TJEB iDPOUJOVB TFOU NBMBMUJB RVF OP UF DVSB J RVF MB ÞOJDB WBDVOB RVF FYJTUFJY ÏT MB QSFWFODJØ DPN M ÞT EFM QSFTFSWBUJVw

7UHEDOOHP DPE P~WXHV $FFHSWHP SDJDPHQW DPE WDUMHWD )LQDQFLDFLy

&DUUHU /DWULOOD HU D %DGDORQD 7HO )D[

2EHUW GLVVDEWHV

5(6,'Ë1&,$ *(5,­75,&$

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

727 %DGDORQD

QBH JOEE

JDVWURQRPLD

ICUVTQPQOKC

UHFHSWHV UHVWDXUDQWV SL]]HULHV PHQMDUV SUHSDUDWV

-B QFSB VOB GSVJUB BNC BMU DPOUJOHVU FO m CSB (BTUSPOPNJB t &O RVBMTFWPM EFMT OPTUSFT NFSDBUT QPEFN DPNQSP WBS RVF FYJTUFJYFO NPMUFT WBSJFUBUT EF QFSFT -FT EJGFSÒODJFT SFTVMUFO FWJEFOUT TFHPOT FM UBNBOZ FM DPMPS FM TBCPS J MB UFYUVSB -B UFNQPSBEB FO RVÒ NÏT QPEFN HBVEJS EFM DPOTVN EF MB QFSB ÏT MB RVF DPNQSÒO FMT NFTPT E FTUJV J MB UBSEPS UPU J RVF FT QPU USPCBS EVSBOU UPU M BOZ % BRVFTU GSVJU EFTUBDB MB TFWB BQPSUBDJØ EF WJUBNJOFT NJOFSBMT J EF m CSB &O FTQFDJBM MB m CSB ÏT MB RVF BUPSHB B MB QFSB MB QSPQJFUBU E BGBWPSJS MB EJHFTUJØ J UBNCÏ FM CPO GVODJPOBNFOU EF M BQBSFMM EJHFTUJV J EFM USËOTJU JOUFTUJOBM 3FTQFDUF BMT NJOFSBMT B MB QFSB USPCFN OJWFMMT EF TPEJ UPU J RVF CBJY EF QPUBTTJ EF DBMDJ EF GÛTGPS EF

UÏ BMUT DPOUJOHVUT E BJHVB BNC MB RVBM DPTB QPEFN SFTTBMUBS MB TFWB RVBMJUBU SFGSFTDBOU 5BNCÏ ÏT NPMU SFDPNBOBCMF QFS B MFT QFSTPOFT RVF QBUFJYFO EFM SPOZØ J EF HPUB QFM CBJY DPOUJOHVU EF TPEJ 6OB BMUSB EF MFT RVBMJUBUT EF MB QFSB ÏT MB CBJYB BQPSUBDJØ DBMÛSJDB DBMPSJFT QFS DBEB HSBNT -B QFSB ÏT VOB BMJNFOU JOEJDBU QFS B MFT QFSTPOFT EJBCÒUJRVFT KB RVF BKVEB B NBOUFOJS FM DPOUSPM EFM TVDSF FO MB TBOH &M TFV DPOTVN IBCJUVBM BKVEB B NBOUFOJS FT UBCMFT FMT OJWFMMT EFM DPMFTUFSPM 5BNCÏ FT USBDUB E VOB GSVJUB SJDB FO QFDUJOB EF NBOFSB RVF BMMFV HFSB MFT EJHFTUJPOT QFTBEFT J B MB WFHBEB EPOBU FM TFV DPOUJOHVU FO m CSB UÏ FGFDUFT TBDJBOUT J OFUFKB M PSHBOJTNF

1FM RVF GB B MFT WJUBNJOFT MFT NÏT BCVOEBOUT TØO MFT RVF DPSSFTQP OFO BM HSVQ " J $ UPU J RVF UBNCÏ IJ USPCFN RVBOUJUBUT NFOZT JN QPSUBOUT EF WJUBNJOFT EFM HSVQ # -B QFSB UBNCÏ BQPSUB IJESBUT EF DBSCPOJ BQSPYJNBEBNFOU VOT HSBNT QFS DBEB "RVFTUB YJGSB FT QPU WFVSF NPEJm DBEB TFHPOT MB NBEVSFTB EFM GSVJU 2VBOU NÏT NBEVS NÏT IJESBUT EF DBSCPOJ DPOUJOESË &MT IJESBUT EF DBSCPOJ TØO FMT SFTQPOTBCMFT E BQPSUBS FOFSHJB BM OPTUSF PSHBOJTNF -B QFSB ÏT VOB GSVJUB RVF UBNCÏ

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

# ,,EØ "ADALONA

4EL

CALAMERCE

NBHOFTJ J EF GFSSP 3FDPSEFN RVF FMT NJOFSBMT DPNQMFJYFO FO FM OPTUSF DPT VOB GVODJØ JNQPSUBOU J RVF OFDFTTJUFO E VOB SFOPWBDJØ EJËSJB JHVBM RVF MFT WJUBNJOFT

1MBÎB EF MB GPOU r #BEBMPOB 5FM r

TELEFONICA NET

5HVWDXUDQW 7tSLF

&M CBMDØ EFM NBS SFTUBVSBOU

T OJU %JVNFOHF DBU O UB T O MV JM E J

t %JTTBCUFT J EJVNFOHF t 1PMMBTUSFT t $BOFMPOT J FTQFDJBMJUBUT EF MB TFUNBOB t %FHVTUBDJØ EF DBGÒT t 1B BSUFTBOBM J ÞOJD B .POUHBU 1MBÎB "OUPOJ (BVEÓ MPDBM .POUHBU 5FM

QBH JOEE

t .FOÞT EF EJNBSUT B EJVNFOHF t 4PQBST QFS B HSVQT BNC QPTTJCJMJUBU EF TBMB EF GFTUFT

$BSOT B MB #SBTB BNC MMFOZB Eh"M[JOB $BSHPMT FTUJM EF -MFJEB

+B UFOJN QBOBMMFUT

5FSSBTTFT BNC WJTUFT B NBS

EhPDUVCSF 'FTUB $6#"/"

"DUVBDJØ FO EJSFDUF

$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

1BTTFJH .BSÓUJN 4 / $MVC /ËVUJD #ÏUVMP

#BEBMPOB 5FM .CM FMCBMDPEFMNBS!DOCFUVMP DPN

B SB R V F N B J

3FTFSWFT UFMÒGPO

T J O P I J F U T O P F Y J T U FJ Y F T

1

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

727 %DGDORQD

1*;;&3¶" t 1"33*--" "3(&/5*/"

1SVFCB OVFTUSB

3 & 4 5 " 6 3 " / 5

JDVWURQRPLD

&DPEDODFKH 3&45"63"/5&

1"33*--"%" %& $"3/&4 " -" #3"4" OPTPUSPT QBHBNPT MBT 1"5"5"4 Z MB &/4"-"%"

0GFSUB WÈMJEB IBTUB FM

$ $PORVJTUB t #"%"-0/" t 5FM

.&/Á %*"3*0 r 4FSWJDJP B MB DBSUB Z CBORVFUFT r 4BMPOFT JOEJWJEVBMFT EF B QFSTPOBT r &TQFDJBMJTUBT FO SFVOJPOFT GBNJMJBSFT HSVQPT EF FNQSFTB Z EFTQFEJEBT r .FOÞT QBSB HSVQPT EFTEF å

.FOÞT #PEBT

å 5PEP JODMVJEP NFOÞ NÞTJDB Z CBSSB MJCSF

$USB #BEBMPOB .POUDBEB ,N $BOZFU

3FTFSWBT

5FM 727 %DGDORQD

QBH JOEE

9

"

DBSB DBSBT

DBSB DBSBT

å å

å å

å å

Ã¥

å å å å å å

å å å å å å

å å å å å å

å å å å å å

'PSNBUP

" DBSB

DBSBT

DBSBT

Ã¥

'PSNBUP

Y

"

Y

"

Ã¥

Ã¥

Ã¥

Ã¥

å å å

å å å

å å å

å å å

'PSNBUP

Y

"

Y

"

Ã¥

Ã¥

Ã¥

Ã¥

å å å

å å å

å å å

å å å

9

Y

DBSBT

DBSB DBSBT

DBSB DBSBT

DBSB

å å

å å

å å

å å

å å å å å å

å å å å å å

å å å å å å

å å å å å å

'PSNBUP

" DBSB

'PSNBUP

"

"

'PSNBUP

å å å

å å å

Y DBSB

'PMMFUPT JOEE

" DBSB

DBSBT

"

"

"

"

DBSBT

Y

Ã¥

Ã¥

Ã¥

Ã¥

å å å

å å å

å å å

å å å

Y

Y

DBSB DBSBT

DBSB DBSBT

å å

å å

å å

å å å å å å

å å å å å å

å å å å å å

FRQVHOOV DQLPDOV GH FRPSDQ\LD YHWHULQDULV RSLQLÓ

DQLPÁOLD

CPKOÀNKC "EPQUBhM /P FM DPNQSJT

.PMUT BOJNBMT BCBOEPOBUT B #BEBMPOB M BOZ QBTTBU TFSJB QSPV NPUJV QFS B EFNBOBS B MFT GBNÓMJFT RVF WVMHVJO BERVJSJS VO HPT P VO HBU RVF OP FM DPNQSJO TJOØ RVF M BEPQUJO B VO DFOUSF E BDPMMJEB 6OB SPEB EF DPNFSÎ DSVFM JN NPSBM IJQÛDSJUB J JSSFTQPOTBCMF DBEB BOZ QPTB B MB WFOEB NJMFST EF HPTTPT J HBUT FO NPMUT DBTPT TFOTF NJDSPYJQ DPNQSBUT TFOTF FTDSÞQPMT B QSFVT SJEÓDVMT B QBÕ TPT OP DPNVOJUBSJT DBSFOUT EF MMFJT EF QSPUFDDJØ BOJNBM "RVFTUT BOJNBMT BSSJCFO B &T

QBOZB EF NBOFSB JMtMFHBM FO DPOEJDJPOT EF USBOTQPSU EFQMP SBCMFT J TFOTF DPOUSPM IJHJÒOJD OJ TBOJUBSJ QFS B TFS WFOVUT BRVÓ B QSFVT E FTDËOEPM 5PU BJYÛ EBWBOU MB QBTTJWB NJSBEB EF M BENJOJTUSBDJØ MB MFHJTMBDJØ EF MB RVBM ÏT FTDBTTB P JOFYJTUFOU

1FSÛ UBOU ÏT FM RVF DPTUJ BERVJSJS FM HPT P HBU B M IPSB E BTTVNJS MFT SFTQPOTBCJMJUBUT EF MB UJ OFOÎB EF M BOJNBM J BJYÛ FTEFWÏ QPTUFSJPSNFOU FO NPMUT DBTPT FO VO QSPCMFNB TPDJBM QJUKPS - "#"/%0/".&/5 1FS BRVFTU J QFS NJM NPUJVT NÏT BQSPQB U BM DFOUSF E BDPMMJEB NÏT QSPQFS B UV J BEPQUB VO HPT P HBU DBEFMM P BEVMU FO GVODJØ EF MFT UFWFT OFDFTTJUBUT RVF FTQFSFO TFS EF MB UFWB GBNÓMJB QFS UPUB MB TFWB WJEB

-B WJEB E VO E BRVFTUT BOJNBMT OPSNBMNFOU HPTTPT EF NPEB FO EFUFSNJOBUT NPNFOUT FT DPOWFSUFJY FO VO OFHPDJ SPEØ QFMT DPNFSDJBOUT FO RVBOU BMT BMUT CFOFmDJT FDPOÛNJDT RVF FO USFVFO GFU RVF BMJNFOUB BRVFTUB QSËDUJDB

0TDBS .POUPSP 1SFTJEFOU "40"

DGRSWD P "%3*" )FNCSB +PWFO &VSPQFB .VZ DBSJ×P TB SFDPHJEB FO MB DBMMF BIPSB FTUÈ FO VOB DBTB EF BDPHJEB

30/ .BDIP KPWFO +VHVFUØO F JORVJFUP NVDIB WJUBMJEBE HBOBT EF TBMJS EFM SFGVHJP DPO VOB GBNJMJB

"TPDJBDJØO 4FHVOEB 0QPSUVOJEBE "OJNBM "QBSUBEP QPTUBM

%h&/ #04$ (0'&3% $SFV #KT #BEBMPOB

5FM 'BY 727 %DGDORQD

QBH JOEE

BTPB!BTPB OFU

t "%*&453".*&/50 " %0.*$*-*0 t $3*" &9$-64*7" %& 30558&*-&3 "'*+0 %& (0'&3 ' $ * #"%"-0/" 5&- 1®(*/" 8&# %h&/ (0'&3%

/; # XXX BTPB OFU "QU #BEBMPOB

KRU¶VFRSV ®3*&4 BM

$3"/$ BM

#"-"/±" BM $"13*$03/ BM

4FSBO CPOT EJFT QFS WPTBMUSFT TPCSFUPU FO FM UFNB EFMT EJOFST ÏT DPN TJ VT DSJFTTJO MB MMËTUJNB ÏT RVF EF MB NBUFJYB NBOFSB RVF VT WFOFO FMT GFV NBSYBS NJSFV EF OP EFJYBS MPT FTDB QBS UBOU SËQJE 1FS VO BMUSF DPTUBU VT QPEFO GFS BMHVOB QSPQPTUB RVF QPU DBOWJBS VOB NJDB FM WPTUSF UBSBOOË EF WJEB SFMBDJPOBEB BNC MB GFJOB

&TUBSFV NPMU MMJHBUT B MB WPTUSB QBSFMMB TJ FO UFOJV ÏT DMBS %PODT CÏ MB WPTUSB JNQSFTTJØ ÏT RVF MB QBSFMMB VT GBSË NÏT DBT EFM OPSNBM QFS BRVFTU NPUJV QPUTFS RVF UJOHVFV JEFFT VOB NJDB SFCVTDBEFT GFOU RVF FTUBS HFMØT TJHVJ VOB DPTB OPSNBM OP IJ IB SFT E FTUSBOZ OP VT FODB QBSSFV

/PNÏT FTUFV QFOTBOU FO TPSUJS EF DBTB FO GFS DPTFT FO BOBS B WFVSF DPTFT OPWFT FO SFTVN RVF FTUFV DPN NPMU JORVJFUT J OP TBCFV OJ FM QFSRVÒ UBN QPD DBM RVF VT IP QSFHVOUFV HBJSF BM DBQ J B MB m FM NÏT JNQPSUBOU ÏT RVF QFS WPTBMUSFT M JNQPSUBOU ÏT NPVSF VT 4J OP UFOJV QBSFMMB OP UJOESFV QSPCMFNB QFS GFS IP

&TUBSFV VOB NJDB MMVOË UJDT RVBMTFWPM DPTB VT GBSË DBOWJBS E PQJOJØ BNC VOB SBQJEFTB CFTUJBM DBOWJT EF UPU UJQVT TFSBO FMT RVF TF VT QPTBSBO EBWBOU mOT J UPU WPMESFV DBOWJBS E BTQFDUF EF UPUFT NBOFSFT OP VT FTWB MPUFV RVF UBNQPD ÏT UBOU HSFV BM DBQ J B MB m EF UBOU FO UBOU UBNCÏ ÏT CP BOBS SFOPWBOU M BTQFDUF J FM UBSBOOË

5"63& BM

--&» BM

&4$031¶ BM "26"3* BM

+B FSB IPSB RVF FM %F UPUT FMT TJHOFT EF 4ØO VOT EJFT JEFBMT QFS -B QBSU TFYVBM TFSË QPTBS TFOZ RVF KB VT DPOWÏ ÞMUJNBNFOU QPS UBWFV VOB NJDB E FTWFSBNFOU B M IPSB EF GFS MFT DPTFT J MB WFSJUBU ÏT RVF FM GFU EF QFOTBS OP FSB QBT FM RVF NÏT GÒJFV TFSWJS QFS BJYÛ TPM KB VT WB CÏ BHBGBS VOB NJDB EF TFOZ 5BNCÏ IFV EF UFOJS FO DPNQUF RVF MB WPTUSB SFMBDJØ EF QBSFMMB TFSË MB RVF VT GBSË QPTBS MFT QJMFT FO BRVFTU UFNB

QPUTFS MB RVF VT EPOBSË NÏT NBMEFDBQT BM MMBSH E BRVFTUT EJFT QFSÛ OP QBT QFS UFOJS NBM SPUMMP TJ OP RVF UPU BM DPOUSBSJ FTUBSFV BQVOU FO RVBMTFWPM NPNFOU TJ QPEFV OP VT UBMMFV J TJ OP UFOJV OJOHÞ BNC RVJ FTQMBJBS WPT KB IFN TBQ HSFV QFSÛ IBVSFV EF NJSBS E FTQBWJMBS WPT RVF FO BRVFT UB WJEB OP WBM B CBEBS

M IPSÛTDPQ QPUTFS TPV FMT RVF UFOJV VOT EJFT NJMMPST TFHPOT FMT WPTUSFT BTQFDUFT BTUSPMÛHJDT MB QBSU QPTJUJWB WF QFS WËSJFT CBOEFT EJGFSFOUT MB QSJNFSB RVF QPU TFS NÏT GBWPSBCMF ÏT MB QBSU EFMT EJOFST MB TFHPOB ÏT MB QBSU EFMT BNJDT J MB UFSDFSB MB EF MB QBSFMMB RVF TJ OP FO UFOJV mOT J UPU MB QPEFV USPCBS

UFNB NBUFSJBM TF VT TPMVDJPOÏT VOB NJDB QPUTFS OP UBOU DPN WPMESÓFV QFSÛ TJ VOB NJDB BSB B QPD B QPD IFV EF NJSBS DPN IP QPEFV GFS QFS BTTFHVSBS NÏT FM WPTUSF GVUVS J CVTDBS VOB NBOFSB QFS FTUBCJMJU[BS MB WPTUSB WJEB J TPCSFUPU BHBGBS VO SJUNF EF USFCBMM NÏT P NFOZT mYB VT DPOWÏ

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

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

*OUFOUFV NJSBS WPT MFT "RVFTUT EJFT UJOESFV 5PUFT VT QPOFO GPSÎB "M MMBSH E BRVFTUT EJFT QFSÛ MB QBSU BNC MB RVF TF VT WFV NJMMPS ÏT BNC MB SFMBDJØ NBSF mMM MJ QPESFV EFNBOBS FM RVF WVMHVFV RVF TJ FTUË B MB TFWB NË TFHVS RVF IP UJOESFV BSB UBNQPD BCVTFV JHVBM EFTQSÒT T FOGBEB J FODBSB IJ QFSEFV " QBSU E BJYÛ TFSJB NPMU CØ RVF BM MMBSH E BRVFTUT EJFT GÏTTJV BMHVO UJQVT E JOWFSTJØ

DPTFT BNC VO QVOU EF WJTUB NÏT QPTJUJWJTUB QFSRVÒ TJ OP IP QBTTBSFV NB MBNFOU WPTBMUSFT J UBNQPD WBM MB QFOB FTUBS NBMBNFOU QFS VOB QFUJUB DPTB EF SFT FM QSPCMFNB ÏT RVF VT EFJYFV BGFDUBS NBTTB QFS UPU J BJYÛ OP ÏT QBT CP 4J QPEFV SFGVHJBS WPT BNC MB HFOU EF DBTB WPTUSB J EFJYFV RVF M FTUJNBDJØ VT BSSJCJ EF QMF

IBVSFV RVF GFS EF DPO GFTTPST UPU TPWJOU MB HFOU RVF DPOFJYFV J mOT J UPU BRVFMMFT QFSTPOFT RVF OP UFOFO NBTTB UFOEÒODJB B WFOJS J FYQMJDBS WPT DPTFT VT FYQMJDBSBO TJUVBDJPOT NPMU JOUJNFT EF MB TFWB WJEB J FM WPTUSF QBQFS BRVÓ FT FM EF TBCFS FTDPMUBS J FO BMHVO NPNFOU DPOTPMBS B MB QFSTPOB RVF VT PCSF MB TFWB WJEB

NPMU CPO SPUMMP BNC FMT WPTUSFT WFÕOT BNC RVJ QFS OPSNB HFOFSBM OP ÏT QBT RVF IJ UJOHVFV NBTTB SFMBDJØ QFSÛ BRVFTUT EJFT FT WFV RVF MFT DPTFT VT GVODJPOFO NJMMPS 1FS VO BMUSF DPTUBU FM RVF UBNCÏ TF VT NBSDB ÏT VO SFDPM[BNFOU JNQPSUBOU QFS QBSU EF MB GBNÓMJB FO SFMBDJØ B VOB EFDJTJØ RVF IFV EF QSFOESF

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

5"305 "3"/%" {5JFOFT EVEBT FO FM BNPS /FHPDJP Z TBMVE {&SFT TFOTJCMF

``-MÈNBNF

.BZPSFT EF B×PT $PTUF MMBNBEB SFE m KB å .ØWJM å "1 $PSSFPT 4BCBEFMM #$/ /$4

4E0 3D0AC4

;P Þ]XRP eXST]cT `dT ]^ ]TRTbXcP RPacPb ST cPa^c b×[^ cd UTRWP ST ]PRX\XT]c^ 5TRWPb R^]RaTcPb BX] VPQX]TcT % aTS UXYP $ aTS \^eX[

4PMVDJPOT B MB TFDD FDPOÛNJDT

' % #' # '% h ( ! $" # '

5"305 %&

1"26*5" ."35¶/&; 5BSPU FWPMVUJWP 5JFOFT EVEBT "NPS USBCBKP EFQSFTJØO #VTDBT SFTQVFTUBT

"UJFOEP QFSTPOBMNFOUF

1FS 1BV 7JEBM

)03*5;0/5"-4 /P QPU WFVSF MB DPSCBUB OJ QFS KVHBS B CJMMBS 1MBOUB DFSWFTFSB - &NQBS EFTQSÏT EF MB EFTDË SSFHB FMÒDUSJDB $PN VO TBOU (BTPM 4J FO UFOT NÏT E VO OP FU EFJYFO USBORVJM &KBDVMBDJØ EF QSFDPÎ 6O RVBSU EF WVJU / ÏT FM SFTQPOTBCMF EFT EFM DPNFOÎB NFOU 5SPCBEB QVCMJDJUBEB B QMF DBNQ -B %PSJUB CFO NJSBEB QBTTBSJB QFS VO NBNÓGFS BRVËUJD 3FEVFJYJ B M FTTÒODJB %POFT "CBOT RVF &TQPTFT 3FUSP HVTU EF QPOJPM &MT WB GVOEBS FM QBÓT J FMT WFOFÎPMBOT FODBSB MJ GBO QBHBS 1VOUB EF TVQÒSCJB /PSNB QFS JOJDJBS VO SJUVBM / FTUË FM UBVMFMM PO OP IJ DBQ OJ VOB UBQB NÏT 4 IB FTDBQBU DBQ B M PFTU BNC M &WB GFOU BVUPTUPQ 1SJNFS PCKFDUJV DPNVOJTUB % BRVFTU QSPEVDUF FODBSB RVF TJHVJ CSVU UPUIPN FO WPM NÏT -B UPT MJ GBDJ EPOBS DPQT EF DBQ $FOUSF EF (JSPOB &T SFUPDB QFS UFOJS DVSB EF MFT PRVFT %JUFT NBM EJUFT BNC m OBMT GÒUJET " M FTU EF M &EÒO $BNQT RVF UÏ MB WFV QFS DØSSFS 1ÞSSJB RVF MB 5YVT BHBGB EF MB NË &T GB MMPD B MB QMBUKB BNC GBDJMJUBU

WDURW

1SFDJP GJKP &VS .ØWJM &VS .BZPSFT EF B×PT 1PS BMUB 4 - $ 0SFOTF .BESJE

7$527 0$5,1$ /$6 + 5(638(67$6 48( %86&$6 /$6 (1&2175$5É6

££//É0$0(

9,6(6 (&21Ó0,48(6

606 HQYLD PDU \ WX SUHJXQWD DO

0$(675$ '( 5(,., 5HLNL KRUDV FRQYHQLGDV

7(/

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

7*4"

XXX FMUPUEJHJUBM DPN CBEBMPOB!FMUPUEJHJUBM DPN

QBH JOEE

)PSBSJP I B I

&-&/" 5"305

BOVODJB U FO BRVFTUB TFDDJØ

727 %DGDORQD

5FSBQFVUB FTQJSJUVBM .ÈYJNB TFSJFEBE

7&35*$"-4 'B QPTTJCMF RVF EFTQSÏT BMHÞ SFCMJ FM DMBV #FHVEB RVF FT QSFO BNC QPOYP 5PSOB BNC FM UBMM 1BSMBOU EF MB QFMJUB FM QPMÓUJD IP UÏ QFMVU .PS B QBMBV - FSSB QPTBOU MB EBWBOU EFMT ÞUJMT O PCUJOESË ÛYJET EF UJUBOJ 0SHVMMPTPT EF MB TFWB SJHJEFTB $BQT RVF OP DPOFJYFO MÓNJUT 7BO FO BTDFOT QFSÛ OP IP UFOFO DMBS 5Ï QPS EF QMBOUFKBS FM UFNB 6OB BNPOFTUBDJØ BJYÓ ÏT QFS HJSBS T IJ B USFUT &TUBO QFS FMMB 4ÏD E BMMÛ CMFHBU "MFTIPSFT FT QMBOUFO &NQSFNUB EF DBOVU 3PRVFT WPMDËOJRVFT USPCBEFT BM SJV %FTHSBDJBEBNFOU TPSUJN 4J WPMT RVF UF M BQMJRVJO U IBT EF NVMMBS FM DVM 1PTJDJØ E FO (JCFSOBV FODBSB RVF BCBOEPOJ "NJEJ NBMBNFOU BRVFTUB TVCTUËODJB PSHËOJDB 2VBMJUBU RVF TF MJ FYJHFJY BM RVF WBM 7BO B MB TPSUJEB EF $BTQ 7PMFO RVF MFT DPNQMJN QFSRVÒ OP SFHOJ FM DBPT 4ØO M FTTÒODJB EFM WJSVT .PMUFT WFHBEFT OP FT QPU QPTBS FO QSËDUJDB 3JBEFT RVF RVBO UPSOFO B NBSF OP BSSJCFO B GFS VO NFUSF &M NÏT FTQJOØT EFM #BSÎB 'B NBMCÏ FM CPUØ RVBO FM EFTDPSEB

&YQFSJFODJB Z SFTQVFTUBT DMBSBT "UJFOEP QFSTPOBMNFOUF 5G UN "QEP B

1MBOUJMMB#BTF JOEE

727 %DGDORQD

=ÁSLQJ %JKPVT EhPDUVCSF

%JWFOESFT EhPDUVCSF

I %PDVNFOUBM

%JTTBCUF EhPDUVCSF

I %JWVMHBUJV

4FYFT FO HVFSSB

%JVNFOHF EhPDUVCSF

I 1FMrMÓDVMB

2VÒRVJDPN

%JMMVOT EhPDUVCSF I (BTUSPOPNÓB

I $JÒODJB

3PCPDPQ

$VBSUP .JMFOJP

$VJOFT

%FUSPJU FO VO GVUVS QSÛYJN FTUË EPNJOBEB QFM DSJN J HPWFS OBEB QFS VOB HSBO FNQSFTB RVF IB DSFBU VO JNNFOT SPCPU

*LFS (JNÏOF[ QSFTFOUB UPUT FMT NJTUFSJT EF M BSRVFPMPHJB MB JOWFTUJHBDJØ DSJNJOBM J MB DJÒODJB

&TQBJ EJBSJ PO FMT SFTUBVSB EPST DBUBMBOT PGFSFJYFO MFT TFWFT SFDFQUFT EF DVJOB

&M QSPHSBNB QSFUÏO EFTQFS UBS MB DVSJPTJUBU DBQ B MB DJÒODJB $PMtMBCPSB FM CBEBMPOÓ 1FSF 3FOPN I 4ÒSJF

i4FYFT FO HVFSSBw ÏT VOB TÒSJF EPDVNFO UBM EF EJWVMHBDJØ DJFOUÓmDB TPCSF FMT PSÓHFOT CJPMÛHJDT EF MB DPOEVDUB EFMT IPNFT J EPOFT

727 %DGDORQD

QBH JOEE

$BTP BCJFSUP 4ÒSJF EF EF UFDUJVT CBTBEB BNC MB UBTDB E VOB JOWFTUJ HBEPSB

727 PRWRU

616 OQVQT

YHK,FOHV FLUFXODFLÓ QRYHWDWV FRQFHVVLRQDULV

1PSTDIF 1BOBNFSB

.PUPS t &M 1PSTDIF 1BOBNFSB ÏT VO WFIJDMF UJQVT CFSMJOB FTQPSUJWB EF RVBUSF QMBDFT J EF HBJSFCÏ DJOD NFUSFT EF MPOHJUVE RVF EFV FM TFV OPN B MB A$BSSFSB QBOBNFSJDBOB ²T QSFWJTU RVF FT DPNFO DJ B DPNFSDJBMJU[BS QBTTBU M FTUJV BNC USFT WFSTJPOT 4 4 J 5VSCP UPUFT FMMFT BNC VO DPNQMFUÓTTJN FRVJQBNFOU EF TÒSJF J BNC UPUFT MFT DPNPEJ UBUT J EFUBMMT

OBNFOU FTUSBUÒHJD J B MB DPO GJHVSBDJØ EFM NBUFJY WPMBOU EF USFT SBEJT FO DVJS $PN OP QPU TFS E BMUSB NBOFSB FM TJTUFNB E JOGPSNBDJØ EFM WFIJ DMF EFM RVBESF E JOTUSVNFOUT PGFSFJY UPU MVYF EF EFUBMMT BNC VOT EJTTFOZT NBSDBEB NFOU FTQPSUJVT 1FM RVF GB B MB EFDPSBDJØ JOUFSJPS M BDBCBU FT GB FO OFHSF CSJMMBOU BNC TFJFOUT QBSDJBMNFOU FO DVJS " M FYUFSJPS T FRVJQB VO BMFSØ

-FT RVBUSF QMBDFT EFM 1BOB NFSB DPSSFTQPOFO B RVBUSF TFJFOUT JOEJWJEVBMT FMT QPT UFSJPST EF EJNFOTJPOT NPMU TFNCMBOUT BMT EBWBOUFST ²T QFS BRVFTU NPUJV RVF BRVFTU 1PSTDIF ÏT VO WFIJDMF NPMU DPOGPSUBCMF FO FM TFV JOUFSJPS J FO UPUFT MFT TFWFT QPTJDJPOT &M DPOEVDUPS E BRVFTU WFIJ DMF HBVEFJY E VOB DPOEVDDJØ FTQPSUJWB HSËDJFT BM QPTJDJP

%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

1HF 3PEØ J 3BNCMB 4BO +VBO #"%"-0/"

727 %DGDORQD

RVF WBSJB MB TFWB EJTQPTJDJØ QPTJDJPOT FO GVODJØ EF MB WFMPDJUBU 1FM RVF GB BM NBMFUFS MB DB QBDJUBU ÏT E VOT EFTUBDBCMFT MJUSFT RVF FT QPU BNQMJBS FO DBT EF OFDFTTJUBU QMFHBOU FMT TFJFOUT QPTUFSJPST DBQ FO EBWBOU EF NBOFSB RVF RVFEB VOB TVQFSGÓDJF QMBOB FO MÓOJB BNC FM NBMFUFS

727 PRWRU

"RVFTUT TØO FMT QSPQVMTPST EJTQPOJCMFT 1BOBNFSB 4 LN I TFHPOT E BDDFMFSBDJØ EF B MJUSFT EF DPOTVN NJYU DBWBMMT 1BOBNFSB 4 1%, LN I TFHPOT E BDDFMFSBDJØ MJUSFT EF DPOTVN NJYU DB WBMMT EF QPUÒODJB 5VSCP 1%, LN I BDDFMFSB DJØ EF B FO TFH DPO TVN MJUSFT J DBWBMMT 4 1%, LN I BDDFMFSBDJØ EF B FO TFHPOT DPOTVN NJYU E MJUSFT J QPUÒODJB EF DBWBMMT 4FHVSFUBU &M 1BOBNFSB JODMPV EFV DPJYJOT EF TFHVSFUBU EF TÒSJF DJOUVSPOT BNC QSFUFOTPST J MJNJUBEPST EF GPSÎB FMT EBWBOUFST DPOUSPM E FTUBCJMJUBU J BOUJCMPRVFKBNFOU EF GSFOT DPOUSPM EF QSFTTJØ EF OFVNËUJDT J EF WFMPDJUBU TFS WPGSF E FNFSHÒODJB TVTQFOTJØ BDUJWB MMVNT EF GSF BEBQUBUJVT J DBSSPTTFSJB BNC SFGPSÎBNFOUT J [POFT EF EFGPSNBDJØ QSPHSB NBEB

.PUPS &MT J FMT DBWBMMT EF QPUÒODJB EFM 1PSTDIF 1BOB NFSB TØO UPUB VOB BUSBDDJØ QFS BMT DPOEVDUPST BNBOUT EF MFT BMUFT WFMPDJUBUT BNC DPOUSPM EFM WFIJDMF 4 PGFSFJY EPT UJQVT EF DBJYB EF DBOWJ VOB NBOVBM J VOB BMUSB E BVUPNËUJDB EF EPCMF FNCSBHBUHF RVF PGFSFJYFO VOB SFTQPTUB SËQJEB J Fm DJFOU

"-26*-&3 %& '63(0/&5"4 : 563*4.04

0'*$*/" &/ #"%"-0/" $ &-&$53»/*$" O 1PM *OE -FT (VJYFSFT 5&- XXX HSVQPNBSUIF DPN 727 %DGDORQD

QBH JOEE

/HFWRUV

NGEVQTU

FDUWHV IRWR GHQÙQFLD SURWDJRQLVWD FRO ODERUDFLRQV

*ODPNQMJNFOU EF MB TFHVSFUBU B MFT HBTPMJOFSFT &O MMPDT DPN B MFT HBTPMJOF SFT RVF TPO UBO DPODPSSF HVEFT J BM NBUFJY NPNFOU UBO QPUFODJBMNFOU QFSJMMØT T IBVSJB EF DPNQMJS P GFS DPN QMJS MB OPSNBUJWB EF TFHVSF UBU 'B KB VO UFNQT WB TPSUJS MB OPSNBUJWB RVF QSPIJCJB UFS NJOBOUNFOU M ÞT EF UFMÒGPOT NÛCJMT J GVNBS B MFT HBTPMJOF SFT mOT J UPU IJ IB DBSUFMMT BE WFSUJOU E BRVFTUB OPSNBUJWB * TJ ÏT BJYÓ QFSRVÒ TFHVFJYP

OJ MFT BVUPSJUBUT GBO SFT QFS BUVSBS BRVFTUT JOEJWJEVT

USPCBOU DFS UT QFSTPOBUHFT RVF OP FMT JNQPSUB BRVFTUB OPSNBUJWB J TFHVFJYFO QBSMBOU USBORVJMtMBNFOU BNC FM UF MÒGPO NFOUSF QPTFO HBTPMJOB J BMUSFT RVF UBMMFO QFS EJOT MB HBTPMJOFSB QFS FWJUBS DBNJOBS NÏT QFSÛ RVF OP BQBHVFO OJ UJSFO MB DJHBSSFUB NFOUSF DBNJOFO QFS EJOT M FTUBDJØ * FM RVF FN TFNCMB QJUKPS ÏT RVF FMT USFCBMMBEPST EF MFT NBUFJYFT FTUBDJPOT EF TFSWFJ

)FN E FTQFSBS RVF VO EJB VO OPJ NBMDBSBU QSFOHVJ GPD TFOTF WPMFS B VOB FTUBDJØ DBNJOBOU BNC VOB DJHBSSFUB FODFTB NFOUSF UBMMB FM DBNÓ B USBWÏT EF MB HBTPMJOFSB DBVTJ BMHVO BDDJEFOU HSFV QFSRVÒ ÏT QSFOHVJO NFTVSFT /ÞSJB $BOZBEØ

4PDJFUBU WFSEB QFSÛ FDPOÛNJDBNFOU KVTUB &O CSFV MFT CPTTFT EF QMËTUJD EFTBQBSFJYFSBO EF UPUT FMT TVQFSNFSDBUT RVF UJOESBO NFOZT EFTQFTB FODBSB RVF OP TBCFN TJ BJYÛ GBSË CBJYBS FM QSFV EFM QFUSPMJ J TJ OP TBMUSFT IP BDBCBSFN OPUBOU E BMHVOB GPSNB +P QSPQPTBSJB RVF BRVFTUB EFTQFTB RVF FMT TVQFSNFSDBUT T FTUBMWJBSBO SFQFSDVUFJYJ EJSFDUBNFOU FO

CFOFmDJ EFM DPOTVNJEPS J RVF FMT QSFVT EFMT BMJNFOUT CBJYJO OJ RVF TJHVJ VOT DÒOUJNT 1FS DFSU TJ MFT CPTTFT EF QMËTUJD USJHVFO BOZT FO EFTBQB SÒJYFS RVF GBSFN BNC UPUFT MFT RVF IFN VUJMJU[BU EVSBOU UPUT BRVFTUT BOZT B MFT QPT USFT DPNQSFT 4J DPOFJYFN MB SFTQPTUB MÛHJDB RVF OP T FTUBO BDVNVMBOU BOZT

mOT B MB TFWB EFHSBEBDJØ UPUBM TJ OP RVF KB IBO FTUBU FMJNJ OBEFT P FTUBO FO FM QSPDÏT OP ÏT VOB NJDB FYBHFSBEB MB QVCMJDJUBU +P FODBSB UJOD FM DBSSP EF MB DPNQSB FM DBCËT EF SËmB J CPTTFT EF UFMB QFS BM QB J WJTU RVF FM QBTTBU ÏT FM GVUVS FMT WBJH B EFTFN QPMTBS

MBT DBMMFT UJFOFO TVmDJFOUFT QBQFMFSBT QVFTUP RVF BRVÓ CSJMMBO QPS TV BVTFODJB -PT CBSSFOEFSPT TJ CBSSFO QFSP TF EFKBO B TV QBTP MPT FYDSFNFOUPT EF QFSSP MBT DBMMFT IVFMFO B PSJOFT MBT QBQFMFSBT FTDBTFBO : QBSB SFNBUBS OPT QMBOUBO VOPT ÈSCPMFT TJ UFOÓBNPT QPDP DPO MPT QMBUBOFSPT RVF OPT QSPEVDFO BMFSHJB B MB NJUBE EF MPT DJVEBEBOPT UF OFNPT MBT DBMMFT RVF QBSFDFO PUP×P QFSQFUVP OPT QMBOUBO FM ÞMUJNP HSJUP FO ÈSCPMFT RVF IBDFO DVBUSP GMPSFT Z B MPT EPT EÓBT DBFO QBSB UFSNJOBS

EF BSSFHMBS MB TJUVBDJØO Z QPS EFTHSBDJB QBSB FMMPT TPMP BMHVOPT BSCPMFT UJFOFO MB TVFSUF EF UFOFS BMHÞO WF DJOP RVF MPT SJFHB QPS RVF TJ GVFSB QPS FM "ZVOUBNJFOUP ZB FTUBSÓBO TFDPT DPNP BM HVOPT RVF FTUÈO DPSSJFOEP FTB TVFSUF .J QSFHVOUB FT {/P QBHB NPT MP TVGJDJFOUF P FT RVF OP NFSFDF OVFTUSP CBSSJP MB QFOB .F HVTUBSÓB UFOFS VOB DJVEBE EF MB DVBM NF QVEJFSB TFOUJS PSHVMMPTB

.BOFM $FOUSF

-BT EJGFSFODJBT 4PZ VOB WFDJOB #BEBMPOB NÈT DPODSFUBNFOUF EFM #B SSJP EF 4BOUP $SJTUP Z NF HVTUBSÓB TBCFS MP RVF EJGF SFODJB NJ CBSSJP EFM DFOUSP EF #BEBMPOB {1PS RVÏ MPT JNQVFTUPT MPT QBHBNPT JHVBM OP 1PSRVÏ FO FM DFOUSP IBZ VO TFSWJDJP EF MJNQJF[B RVF MJNQJB MBT DBMMFT DPO BHVB B QSFTJØO QBSB RVJUBS MPT PSJOFT Z BTÓ QPEFS TVBWJ[BS VO QPDP FTB EFTBHSBEBCMF PMPS Z RVF MPT CBSSFOEFSPT BMMÓ TJ QVFEBO SFDPHFS FYDSFNFOUPT EF QF SSPT 4VT ÈSCPMFT Z NBDFUFSPT FTUÈO DVJEBEPT Z SFHBEPT

4JMWJB #

5PUFT MFT DBSUFT EFMT MFDUPST BM OPTUSF XFC XXX FMUPUEJHJUBM DPN DBSUFT EFMT MFDUPST

-FDUPST 1BH 1BH JOEE

727 %DGDORQD

IRWR GHQÙQFLD

CBEBMPOB!FMUPUEJHJUBM DPN

/HFWRUV

&OWJBOhT MFT UFWFT DBSUFT &OWJBOhT MFT DBSUFT P GPUPT EFOÞODJB 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 CBEBMPOB!FMUPUEJHJUBM DPN

727 %DGDORQD

-FDUPST 1BH 1BH JOEE

{" FTUP MMBNBO VOB OVFWB [POB JOGBOUJM &O FM QBSRVF 5PSSFOUT J -MBEØ EF #VGBMË TJUVBEP FOUSF .BSUÓ 1VKPM Z +PIO -FOOPO TF EFOVODJB RVF MP RVF IBCÓB TJEP DPOTUSVJEP QBSB QFSSPT TFB BQSPCBEP QBSB OJ×PT $PO FM QFMJHSP RVF UJFOF FO TV FOUPSOP (SBOEFT FTDB MPOFT FO TVT USFT MBEPT Z VOB UBSJNB EF NBEFSB QPESJEB DPO DMBWPT TVFMUPT 1SPYJNJEBE EF

DPDIFT QPS EPT EF MPT MBEPT DPO FM DPOTJHVJFOUF QFMJHSP EF BDDJEFOUFT 1BWJNFOUP DPO CMP RVFT EF DFNFOUP SFTJEVPT EF MB BOUJHVB QJTUB EF QFUBODB UPEP FTUP TVNBOEP B RVF FO FTUF QBSRVF IBCÓBO [POBT JOGBOUJMFT BMHVOBT EF MBT DVBMFT IBO TJEP FMJNJOBEBT V FO TV MVHBS IBO QVFTUP MB [POB EF QFSSPT DPO MB GVFOUF Z MPT CBODPT EFOUSP 3PTBSJP .V×P[

1(&52/¶*,48(6

*OGPSNBDJË QSPQPSDJPOBEB QFS 10.1"4 'Á/&#3&4 %& #"%"-0/" 4 " XXX GVOFSBSJBCBEBMPOB DPN

+6"/ .0/503/²4 * $6("5 -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

'3"/$*4$0 '*%"-(0 %¶"; -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

#&/&%*$50 7"-%&0-*7"4 %6&º"4 -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

*4"#&- 3".4 3&7&35& -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

"63&" ("3$¶" #"3$&-0/" -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

.*-"(304 #&-53«/ * "(6"%0 -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

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

(3&(03*0 (65*²33&; 30#-&4 -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

&-*4" 30%3¶(6&; 1²3&; -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

+6"/ #&/&%*$50 .#*" .#*%" -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

'3"/$*4$0 5&+&%" * 3&:&4 -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

."3¶" 1"33" ."35¶/&; -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

1*-"3 7&3%&+0 (0.*$*" -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

'&-*1 36*; #"--&45&3 -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

%0.*/(0 $0--"%0 ;"/$"%" -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

+6"/ 5033&4 .*/(0 -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

+04² -6*4 %*0/¶4 1*26&30 -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

*4"#&- "3#6²4 "(6"4 -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

."3¶" $36; (3"+&3" 4"/504 -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

5&3&4" "336'"5 1&3&--» -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

+Á-*" 4"/4 * 030.¶ -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

'*-0.&/" $"-%&3»/ 40-¶4 -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

."3*" 4"/5*(04" * 0-*7&3"4 -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B 4UB .BSJB #EO

"/50/*" $"33"4$04" 36*; -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

*4"#&- "(6*-&3" 30.&30 -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

."3*" %0-03&4 .6º0; "-$64" -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

"/" ."3¶" $"#3&3" 30%3¶(6&; -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B M 0SBUPSJ 1'#

"(6&%" $)*$0 -»1&; -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

'3"/$*4$0 1"4503 ."5" -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'#

+0"/ 1&3& 1*6-"$)4 * ("-¶ -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B M 0SBUPSJ 1'#

+6"/" ."35¶/&; 50.«4 -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'# .&3$&%&4 1"3&%&4 )&3/«/%&; -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'# 3"'"&- 36*; ("--"3%0 -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'# '3"/$*4$0 '6&/5&4 1²3&; -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'# 7*$5¾3*" 30%3¶(6&; 536--&/26& -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'# 1&%30 36*; -»1&; -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B Mh0SBUPSJ 1'# "/50/*0 1-"5&30 10%"%&3" -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B M 0SBUPSJ 1'# #&/+".¶ 4":"4 )&3/«/%&; -FT FYÒRVJFT WBO TFS FM EF TFUFNCSF B M 0SBUPSJ 1'#

"HSBÕNFOUT J BOJWFSTBSJT &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

OFDSPT QBH JOEE

727 %DGDORQD

FRQVXOWRUL FRPXQLWDWV ODERUDO ILVFDO DVVHVVRULD

FRQVXOWRUL

EQPUWVQTK NGICN "DDJEFOUFT EF USBCBKP *O *UJOFSF

(BCJOFUF +VSÓEJDP )FSOÈOEF[ 7JDFOUF IW!HBCJOFUF OFU

&TUB TFNBOB BOBMJ[BSFNPT MPT BDDJEFOUFT EF USBCBKP FT EFDJS UPEB MFTJØO DPSQPSBM RVF TVGSF FM USBCBKBEPS DPNP DPOTFDVFODJB EFM USBCBKP RVF SFBMJ[B QPS DVFO UB BKFOB &O DPODSFUP BOBMJ[BSFNPT FM BDDJEFOUF EF USBCBKP JO JUJOFSF 5JFOFO MB DPOTJEFSBDJØO EF BDDJEFOUFT EF USBCBKP JO JUJOFSF BRVFMMPT BDDJEFOUFT RVF TVGSF FM USBCBKBEPS BM JS P BM WPMWFS EFM MVHBS EF USBCBKP 4F DPOTJEFSB RVF TJ FM BDDJ EFOUBEP OP IVCJFSB UFOJEP RVF JS BM USBCBKP EFTEF TV DBTB P BM SFWÏT OP TF IVCJFSB QSPEVDJEP FM BDDJEFOUF 1BSB RVF VO BDDJEFOUF TFB DVB MJm DBEP DPNP JO JUJOFSF TF IBO EF IBCFS QSPEVDJEP MFTJPOFT TÞCJUBT Z WJPMFOUBT QPS BHFOUFT FYUFSOPT

-PT BDDJEFOUFT EF USBCBKP JO JUJOFSF TPO BRVFMMPT RVF TVGSF FM USBCBKBEPS BM JS P WPMWFS EFM MVHBS EF USBCBKP

QBSB JS EFM EPNJDJMJP BM USBCBKP Z BM SFWÏT t &M NFEJP EF USBOTQPSUF VUJMJ [BEP QPS FM BDDJEFOUBEP IB EF TFS BEFDVBEP Z SBDJPOBM

DPOTVMUPSJ

)BO EF DPODVSSJS VOB TFSJF EF SFRVJTJUPT QBSB DPOTJEFSBS FM BDDJEFOUF JO JUJOFSF DPNP VO BDDJEFOUF EF USBCBKP TPO MPT TJHVJFOUFT

{1BSB UFOFS EFSFDIP B MBT QSFTUBDJPOFT QPS EFTFN QMFP DVBOUP UJFNQP IB EF IBCFS DPUJ[BEP VOB QFS TPOB

t &M NPUJWP EFM EFTQMB[BNJFO UP IB EF TFS FM DPNFO[BS P BDBCBS FM TFSWJDJP EFTFNQF ×BEP FO FM QVFTUP EF USBCBKP Z WPMWFS BM EPNJDJMJP TJO RVF FO OJOHÞO DBTP TF QSPEV[DB VOB JOUFSSVQDJØO QPS NPUJWPT QFSTPOBMFT t &M BDDJEFOUF EFCF QSPEVDJS TF FO VO UJFNQP QSØYJNP B MB IPSB EF FOUSBEB P EF TBMJEB EFM USBCBKP t &M BDDJEFOUBEP IB EF VUJMJ[BS FM USBZFDUP BEFDVBEP Z IBCJ UVBM &T EFDJS FM BDDJEFOUF IB EF QSPEVDJSTF FO FM DBNJOP RVF IBCJUVBMNFOUF TF SFDPSSF

&M QFSÓPEP NÓOJNP EF DPUJ[B DJØO FT EF EÓBT EFOUSP EF MPT B×PT BOUFSJPSFT B MB TJUVBDJØO EF EFTFNQMFP P BM NPNFOUP FO RVF DFTØ MB PCMJHBDJØO EF DPUJ[BS )B EF UFOFSTF FO DVFOUB RVF OP FT OFDFTBSJP RVF ÏTUPT EÓBT TF IBZBO DP UJ[BEP EF GPSNB DPOUJOVBEB FO FM UJFNQP &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

727 %DGDORQD

QBH JOEE

HPSUHVD

GORTGUC

VHUYHLV HPSUHVD HFRQRPLD LQGXVWULD JHVWLÓ

1SFTFOUBU 'FJOB "DUJWB FM QSJNFS QPSUBM QÞCMJD E &TQBOZB RVF GBDJMJUB USPCBS VO MMPD EF USFCBMM &NQSFTB t &M QPSUBM 'FJOB "DUJWB GFJOBBDUJWB HFODBU DBU ÏT VOB OPWB FJOB RVF FM %FQBSUBNFOU EF 5SFCBMM NJU KBOÎBOU FM 4FSWFJ E 0DVQBDJØ EF $BUBMVOZB IB QPTBU B EJT QPTJDJØ EF QFSTPOFT BUVSBEFT J PDVQBEFT J UBNCÏ EF MFT FN QSFTFT QFS SFMBDJPOBS TF FO FM NFSDBU MBCPSBM EF NBOFSB UPUBMNFOU HSBUVÕUB 'FJOB "DUJWB RVF KB QSFTFOUB NÏT EF PGFSUFT EF GFJ OB OFJY QFS GBDJMJUBS BMT DJV UBEBOT MB SFDFSDB J BDDÏT BM NØO MBCPSBM J B MFT FNQSFTFT MB SFDFSDB J TFMFDDJØ EF MFT QFSTPOFT USFCBMMBEPSFT 1FS FYFNQMF B USBWÏT EFM QPSUBM MFT QFSTPOFT USPCBSBO PGFS UFT EF GFJOB J MFT FNQSFTFT SFCSBO DVSSÓDVMVNT P QPESBO DFSDBS FMT NJMMPST DBOEJEBUT QFS B MFT QMBDFT WBDBOUT -B DPOTFMMFSJB KB IB DPNFOÎBU B JOGPSNBS OF BMT BUVSBUT JOT DSJUT B MFT PmDJOFT EF USFCBMM B USBWÏT EFM DPSSFV FMFDUSÛOJD J EVSBOU FMT QSPQFST EJFT FMT FOWJBSBO GVMMFUPOT BNC UPUB MB JOGPSNBDJØ -FT CPOFT QFSTQFDUJWFT RVF M BENJOJTUSBDJØ WFV FO FM OPV QPS UBM RVFEFO JMrMVTUSBEFT BNC FM OPNCSF E PGFSUFT DP OFHVEFT BRVFTU EJWFOESFT EJB EF QSFTFOUBDJØ EFM TFSWFJ KB RVF iRVBESJQMJRVFO MFT RVF mOT BSB HFTUJPOBWB EJSFDUB NFOU FM 4FSWFJ E 0DVQBDJØ EF $BUBMVOZBw IB SFWFMBU +PBO +PTFQ #FSCFM QSFDJTBNFOU EJSFDUPS E BRVFTU PSHBOJTNF %F NPNFOU OPNÏT IJ IB PGFSUFT E FNQSFTFT BDUJWFT BM UFSSJUPSJ DBUBMË "DPSET BNC FNQSFTFT EF USFCBMM UFNQPSBM -B OPWB FJOB DPNQUB BNC FM

QBH JOEE

P SFHJTUSBOU TF BNC OPN J DPOUSBTFOZB 6O DPQ B 'FJ OB "DUJWB FMT JOTDSJUT QPEFO EPOBS E BMUB UBOUT DVSSÓDVMVNT WJUBF DPN EFTJUHJO MB RVBM DPTB FMT QFSNFUSË FOWJBS MB JOGPSNBDJØ NÏT BDVSBEB TF HPOT M PDVQBDJØ B RVÒ PQUJO FO DBEB NPNFOU

TVQPSU E FOUJUBUT QÞCMJRVFT J QSJWBEFT BNC MFT RVBMT FM 4FSWFJ E 0DVQBDJØ IB TJHOBU DPOWFOJT EF DPMrMBCPSBDJØ RVF IB QFSNÒT QFS FYFNQMF RVF MB %JQVUBDJØ EF #BSDFMPOB IJ IBHJ JODPSQPSBU MB TFWB PGFS UB QÞCMJDB E PDVQBDJØ "JYÓ NBUFJY T IBO TJHOBU BDPSET BNC EJWFSTFT E FNQSFTFT EF USFCBMM UFNQPSBM QFS JODMPVSF MFT TFWFT PGFSUFT MBCPSBMT BM QPSUBM -B DPMrMBCPSBDJØ BNC FOUJUBUT QÞCMJRVFT J QSJWBEFT QFSNFU B 'FJOB "DUJWB PGFSJS MB QPTTJCJMJUBU EF USPCBS FO VO NBUFJY FTQBJ MFT PGFSUFT EF GFJOB QSPWJOFOUT UBOU EF MFT FNQSFTFT QSJWBEFT DPN EFM TFDUPS QÞCMJD

"DDÏT B MFT APGFSUFT FYQSÏT &M QPS UBM UBNCÏ PGFSFJY MB QPTTJCJMJUBU E BDDFEJS B MFT BOPNFOBEFT APGFSUFT FYQSÏT RVF TØO BRVFMMFT RVF MFT FNQSFTFT OFDFTTJUFO DPCSJS EF GPSNB VSHFOU FO P IPSFT 2VBO VOB FNQSFTB QVCMJRVJ VOB E BRVFTUFT PGFS UFT FMT DBOEJEBUT RVF IBHJO NBOJGFTUBU MB TFWB EJTQPOJCJMJ UBU SFCSBO BVUPNËUJDBNFOU VO DPSSFV FMFDUSÛOJD BWJTBOU MPT EF MB TFWB FYJTUÒODJB

-FT QFTPOFT JOUFSFTTBEFT B USPCBS VO MMPD EF USFCBMM QPEFO BDDFEJS BM QPSUBM BNC FM DPEJ EF SFOPWBDJØ EF EFNBOEB EF GFJOB BUPSHBU QFS M 0mDJOB EF USFCBMM TJ T FTUË B M BUVS

< > GFJOBBDUJWB HFODBU DBU

$63404 (3"56¸54 QFS B "563"54 J USFCBMMBEPST FO BDUJV B #"%"-0/" */530%6$$*» " -" $0.15"#*-*5"5 "650$"% % % &9$&-

ÁMUJNFT 1MBDFT .ÏT JOGPSNBDJØ J JOTDSJQDJPOT B 'FEFSBDJØ &NQSFTBSJBM EF #BEBMPOB

5FMÒGPO

727 %DGDORQD

HPSUHVD

/ŶĐŝĚĞŶĐŝĂ ĚĞů WůĂ dĞƌƌŝƚŽƌŝĂů Ă ĂĚĂůŽŶĂ >Ă 'ĞŶĞƌĂůŝƚĂƚ ŚĂ ĂƉƌŽǀĂƚ ŝŶŝͲ ĐŝĂůŵĞŶƚ Ğů WůĂ ŝƌĞĐƚŽƌ dĞƌƌŝͲ ƚŽƌŝĂů ĚĞů ƌĞĂ DĞƚƌŽƉŽůŝƚĂŶĂ͕ ĞŶ Ğů ƋƵĞ ŝŶĐůŽƵ Ğů ŵƵŶŝĐŝƉŝ ĚĞ ĂĚĂůŽŶĂ͘ ů WůĂ dĞƌƌŝƚŽƌŝĂů ĐŽŶƐƚŝƚƵĞŝdž Ğů ŵĂƌĐ ĚĞ ĐŽŚĞƌğŶĐŝĂ ĚĞ ƚŽͲ ƚĞƐ ůĞƐ Į ŐƵƌĞƐ ĚĞ ƉůĂŶĞũĂŵĞŶƚ Ăŵď ŝŶĐŝĚğŶĐŝĂ ĞŶ Ğů ƚĞƌƌŝƚŽƌŝ͕ Ăŝdžž ĞƐ ů͛ ŝŶƐƚƌƵŵĞŶƚ ƋƵĞ Į džĂ ůĞƐ ĚŝƌĞĐƚƌŝƵƐ ƉĞƌ ů͛ŽƌĚĞŶĂĐŝſ ĚĞůƐ ŵƵŶŝĐŝƉŝƐ ĚĞů ƐĞƵ ăŵďŝƚ͕ ĞƐƚĂďůŝŶƚ ůĂ ůŽĐĂůŝƚnjĂĐŝſ ĚĞ ůĞƐ ĞƐƚƌƵĐƚƵƌĞƐ ďăƐŝƋƵĞƐ ƌĞͲ ĨĞƌĞŶƚƐ Ă ůĞƐ ĐŽŵƵŶŝĐĂĐŝŽŶƐ ƚĞƌƌĞƐƚƌĞƐ͕ ŵĂƌşƟ ŵĞƐ͕ ĂğƌŝĞƐ͕ Ě͛ĂďĂƐƚĂŵĞŶƚ Ě͛ĂŝŐƵĂ͕ ƐĂŶĞũĂͲ ŵĞŶƚ͕ ƐƵďŵŝŶŝƐƚƌĞƐ Ě͛ĞŶĞƌŐŝĂ͕ ƌĞŶŽǀĂĐŝſ ĚĞů ŵĞĚŝ ĂŵďŝĞŶƚ ŝ ƐŝŵŝůĂƌƐ͕ ĐŽŶƐƟ ƚƵŝŶƚ Ğů ŵĂƌĐ ĚĞ ĐŽŽƌĚŝŶĂĐŝſ ŶĞĐĞƐƐĂƌŝ ƉĞƌ ů͛ĂĐƚƵĂĐŝſ ĚĞ ůĞƐ ĚŝĨĞƌĞŶƚƐ ĂĚͲ ŵŝŶŝƐƚƌĂĐŝŽŶƐ ƉƷďůŝƋƵĞƐ ƋƵĞ ŝŶĐŝĚĞŝdžĞŶ ĞŶ Ğů ƚĞƌƌŝƚŽƌŝ͘ ŽŶĂƚ Ğů ƐĞƵ ĐĂƌăĐƚĞƌ ŶŽƌŵĂƟ Ƶ ŝ ƐƵƉƌĂŵƵŶŝĐŝƉĂůƐ ŝ Ě͛ŝŶƚĞƌğƐ ŐĞŶĞƌĂů ͕ ůĞƐ ƐĞǀĞƐ ĨŝŶĂůŝƚĂƚƐ ŵĠƐ ĐĂƌĂĐƚĞƌşƐƚŝƋƵĞƐ ĐŽŶƐŝƐͲ ƚĞŝdžĞŶ ĞŶ ůĂ ƵƚŝůŝƚnjĂĐŝſ ƌĂĐŝŽͲ ŶĂů ĚĞů ƚĞƌƌŝƚŽƌŝ͕ ůĂ ƉƌŽƚĞĐĐŝſ ĂŵďŝĞŶƚĂů͕ůĂ ƉƌĞƐĞƌǀĂĐŝſ ĚĞ ů͛ĞƐƉĂŝ ƉĂŝƐĂƚŐşƐƚŝĐ͕ ƉƌŽƚĞĐĐŝſ ĚĞů Ɛžů ŶŽ ƵƌďĂŶŝƚnjĂďůĞ͕ ĐŽŶͲ ĐƌĞĐŝſ ĚĞ ŐƌĂŶƐ ŝŶĨƌĂĞƐƚƌƵĐƚƵͲ

ƌĞƐ͕ ƉƌŽŐƌĂŵĂĐŝſ ĚĞ ůĞƐ ƉŽůşƟ Ͳ ƋƵĞƐ ƐƵƉƌĂŵƵŶŝĐŝƉĂůƐ ĚĞ Ɛžů ŝ ŚĂďŝƚĂƚŐĞ ĐŽŶĐĞƌƚĂƚ Ăŵď ůĞƐ ĂĚŵŝŶŝƐƚƌĂĐŝŽŶƐ ƉƷďůŝƋƵĞƐ͕ ŝ ŵĂƚğƌŝĞƐ ƐŝŵŝůĂƌƐ Ă ĂƋƵĞƐƚĞƐ͘ >ĞƐ ƐĞǀĞƐ ĚĞƚĞƌŵŝŶĂĐŝŽŶƐ ƐŽŶ ƉƌĞǀĂůĞŶƚ ĞŶ ůĞƐ ăƌĞĞƐ ƋƵĞ ĐŽŵͲ ƉƌĞŶĞŶ ŝ ǀŝŶĐƵůĞŶ ů͛ ŽƌĚĞŶĂĐŝſ ĚĞů ƚĞƌƌŝƚŽƌŝ ŵƵŶŝĐŝƉĂů͕ ƉĞƌ ƚĂŶƚ ƐĞŶƐĞ ƋƵĞ͕ ƚĞžƌŝĐĂŵĞŶƚ͕ ĞůŝͲ ŵŝŶŝŶ ů͛ĂƵƚŽŶŽŵŝĂ ŵƵŶŝĐŝƉĂů͕ ŶŽ Śŝ ŚĂ ĐĂƉ ĚƵďƚĞ ƋƵĞ ĐŽŶĚŝͲ ĐŝŽŶĞŶ Ğů ŵŽĚĞů ĚĞ ĐŝƵƚĂƚ͘ Ɛ ĞǀŝĚĞŶƚ ƋƵĞ ŶŽ ĞƐ Ğů ŵĂƚĞŝdž ƋƵĞ ĞƐ ƉƌĞǀĞŐŝ ůĂ ĐŽŶƐƚƌƵĐĐŝſ Ě͛ƵŶĂ ĂƵƚŽǀŝĂ ƐŽƚĞƌƌĂĚĂ Ž ĠƌĞĂ͕ ƋƵĞ ĞƐ ĨĂĐŝůŝƟ ůĂ ĐŽŵƵŶŝĐĂĐŝſ ĞŶƚƌĞ ƉŽďůĂĐŝŽŶƐ Ž ŶŽ͕ Ž ƋƵĞ ĞƐ ƉƌĞͲ ǀĞŐŝ ŐƌĂŶƐ njŽŶĞƐ ĚĞ ĐƌĞŝdžĞŵĞŶƚ ŝŶĚƵƐƚƌŝĂů Ž ŶŽ͕ Ž ƋƵĞ ĞƐ ůŝŵŝͲ Ɵ Ŷ ůĞƐ njŽŶĞƐ ƌĞƐŝĚĞŶĐŝĂůƐ͕ ĞƚĐ͘ ͛ĂƋƵş ůĂ ƐĞǀĂ ŝŵƉŽƌƚăŶĐŝĂ͘ ĂĚĂůŽŶĂ ĞůƐ ĂŶLJƐ ƐĞŝdžĂŶƚĂ ĞƌĂ ĐŽŶĞŐƵĚĂ ĐŽŵ ůĂ ĐŝƵƚĂƚ ŵĞƐ ŝŵƉŽƌƚĂŶƚ Ě͛ŝŶĚƷƐƚƌŝĂ ǀĂƌŝĂͲ ĚĂ Ě͛ ƐƉĂŶLJĂ͕ ĐŽŶĚŝĐŝſ ƋƵĞ ĨĂ ƚĞŵƉƐ ǀĂ ƉĞƌĚƌĞ ŝ ũĂ ĞŶ ů͛ĂŶLJ ϭϵϳϲ ŵŝƚũĂŶĕĂŶƚ Ğů WůĂ 'ĞŶĞƌĂů DĞƚƌŽƉŽůŝƚă͕ ǀĂ ůŝŵŝƚĂ ůĞƐ njŽŶĞƐ ŝŶĚƵƐƚƌŝĂůƐ͕ ŝ ĞŶ ŵŽĚŝĮ ĐĂĐŝŽŶƐ ƉŽƐƚĞƌŝŽƌƐ ƐĞ͛Ŷ ǀĂŶ ƐƵƉƌŝŵŝƌ ;njŽͲ ŶĂ ĐŽƐƚĂŶĞƌĂ͕ DŽŶƟ ŐĂůăͿ͕ Ăůůž ƋƵĞ ǀĂ ƐƵƉŽƐĂƌ ů͛ĞŶĐĂƌŝŵĞŶƚ ĚĞů ƚĞƌƌĞŶLJ Į ŶƐ Ă ƉƌĞƵƐ ŝŶĂĐĐĞͲ

ƐƐŝďůĞƐ ƉĞƌ ŝŶƐƚĂůͻůĂƌ ŝŶĚƵƐƚƌŝĞƐ ŐƌĂŶƐ Ž ŵŝƚũĂŶĞƐ͘ ƋƵĞƐƚ ĨĞƚ ŚĂ ƉƌŽĚƵŢƚ ƋƵĞ Ă ůĞƐ ƉŽƋƵĞƐ njŽŶĞƐ ƋƵĂůŝĨŝĐĂĚĞƐ Ě͛ ŝŶĚƵƐƚƌŝĂ͕ Ŷŝ Śŝ ŚĂ ĚĞ ƉĞƟ ƚĞƐ͕ ŵĂŐĂƚnjĞŵƐ ŝ ŝŶĚƵƐƚƌŝĞƐ ĂƉĂƌĂĚŽƌ͘ ů WůĂ ƚĞƌƌŝƚŽƌŝĂů͕ ĞŶ ƋƵĂŶƚ Ă ůĂ ŶŽƐƚƌĂ ĐŝƵƚĂƚ͕ ŶŽ ƉƌĞǀĞƵ ƉĂƐ ŵĠƐ njŽŶĞƐ ŝŶĚƵƐƚƌŝĂůƐ ŝ ůŝŵŝƚĂ ŵŽůƚ Ğů ĐƌĞŝdžĞŵĞŶƚ ƌĞƐŝĚĞŶͲ ĐŝĂů͖ ĚŝŶƐ ĚĞ ůĞƐ ŐƌĂŶƐ ŝŶĨƌĂĞƐͲ ƚƌƵĐƚƵƌĞƐ ƉƌĞǀĞƵ ůĂ ƵŶŝſ ĚĞ ĂĚĂůŽŶĂ Ăŵď Ğů sĂůůğƐ ƉĞƌ ůĂ ĐŽŶƌĞƌŝĂ͕ ů͛ĂŶŽŵĞŶĂĚĂ Ͳ ϱϬϬ͕ ƌĞĐŽůůŝŶƚ Ăŝdžş ƵŶĂ ĐŽŶƐͲ ƚĂŶƚ ƐŽůͻůŝĐŝƚƵĚ ƋƵĞ ĚĞƐ ĚĞ ůĂ &ĞĚĞƌĂĐŝſ Ě͛ ŵƉƌĞƐĂƌŝƐ ǀĞŶŝŵ ĚĞĨĞŶƐĂŶƚ Ă ƚŽƚƐ ŶŝǀĞůůƐ ŝ ĂĚŵŝͲ ŶŝƐƚƌĂĐŝŽŶƐ͘ >Ă & ͕ ĐŽŶƐĐŝĞŶƚ ĚĞ ůĂ ƚƌĂŶƐĐĞŶĚğŶĐŝĂ ƉĞů ĨƵƚƵƌ ĚĞ ĂĚĂůŽŶĂ ĚĞů WůĂ dĞƌƌŝƚŽƌŝĂů͕ ŚĂ ƉƌĞƐĞŶƚĂƚ ƵŶĂ ĂůͻůĞŐĂĐŝſ͕ ĚĞ ŵĂŶĞƌĂ ƋƵĞ ůĂ ͲϱϬϬ͕ ƐŝŐƵŝ ƐŽƚĞƌƌĂĚĂ ŝ ůůŝƵƌĞ ĚĞ ƉĞĂƚŐĞ ŝ Ɛ͛ĂŵƉůŝŢ Ğů ƚĞƌƌŝƚŽƌŝ ĚĞƐƟ ŶĂƚ Ă njŽŶĞƐ ŝŶĚƵƐƚƌŝĂůƐ ĚĞ ŵĂŶĞƌĂ ƋƵĞ ŵĂŶƟ ŶŐƵĞŵ ůĂ ƉŽƐƐŝďŝůŝƚĂƚ ĚĞ ĐƌĞŝdžĞŵĞŶƚ Ă ƉƌĞƵƐ ĐŽŵͲ ƉĞƚŝƚŝƵƐ͕ ƐĞŶLJĂůĂŶƚ ƉŽƐƐŝďůĞƐ ƵďŝĐĂĐŝŽŶƐ ƋƵĞ ƉŽĚƌŝĞŶ ƐĞƌ ĚĞƐƟ ŶĂĚĞƐ Ă ƷƐ ŝŶĚƵƐƚƌŝĂů͘ :ŽƌĚŝ ďĞů &ĂďƌĞ

WăŐŝŶĂ ĚΖŝŶĨŽƌŵĂĐŝſ ĞŵƉƌĞƐĂƌŝĂů ĚĞ ůĂ &ĞĚĞƌĂĐŝſ ŵƉƌĞƐĂƌŝĂů ĚĞ ĂĚĂůŽŶĂ ."26&5" JOEE

LPPRELOLÁULD

KOOQDKNKÀTKC

/D PLOORU VHOHFFLÓ LPPRELOLÁULD GHO %DUFHORQÈV 1RUG

2VÒ ÏT FM 5"& EF MB IJQPUFDB JNNPCJMJBSJB t &M 5"& UBYB BOVBM E FRVJWBMÒODJB ÏT VO JOEJDBEPS NÏT DPNQMFU RVF M JOUFSÒT OPNJOBM EF MB IJQP UFDB PO T IBO JODPSQPSBU MFT DPNJTTJPOT E PCFSUVSB J EF DBODFMrMBDJØ BOUJDJQBEB EFM QSÏTUFD IJQPUFDBSJ -FT DPNJTTJPOT E PCFS UVSB E VO QSÏTUFD TØO MFT EFTQF TFT JOUFSOFT EF USBNJUBDJØ RVF FM CBOD P FOUJUBU GJOBO DFSB DPCSBSË B M VTVBSJ &M CBOD QPESË DPCSBS BRVFTUFT EFTQFTFT E VOB TPMB WFHBEB P CÏ SFQBSUJS FMT DPCSBNFOUT FO EJWFSTPT QFSÓPEFT -FT DPNJTTJPOT EF DBODFMrMBDJØ BOUJDJQBEB TØO MFT RVBOUJUBUT

SSFTQPOFOU B UPUFT MFT RVPUFT E BNPSUJU[BDJØ ÏT B EJS UPUFT MFT NFOTVBMJUBUT RVF OP FT MJRVJEBSBO 1FS BJYÛ ÏT GSFRàFOU RVF FMT CBODT B M IPSB EF DPODFSUBS MFT DPOEJDJPOT EFM QSÏTUFD IJQPUFDBSJ QBDUJO VOFT DP NJTTJPOT E BNPSUJU[BDJØ BO UJDJQBEB "DPTUVNFO B FYJTUJS VOB BMUSB TÒSJF EF EFTQFTFT DPN TØO RVF FM CBOD DPCSBSË TJ M VTVBSJ MB DBODFMrMBDJØ EF MB IJQPUFDB SFUPSOB FM DBQJUBM QFOEFOU FM QBHBNFOU EF EFUFSNJOBUT BCBOT EFM WFODJNFOU mOBM EF JNQPTUPT FMT EF OPUBSJB JOT M PQFSBDJØ &O BRVFTUT DBTPT DSJQDJPOT J BOPUBDJPOT FO FM FM CBOD EFJYBSË EF HVBOZBS 3FHJTUSF EF MB 1SPQJFUBU RVF VOB RVBOUJUBU FRVJWBMFOU B RVFEFO GPSB EFM DËMDVM RVF FT M JOUFSÒT EF MB IJQPUFDB DP DPOFJY DPN B 5"& +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

1*404 * $"4&4 &/ --0(6&3

;0/" .&3$"5 503/&3 N QMBOUB CBJYB N EF TØUBO 1SFV B $POTVMUBS $ 4"-7"%03 &413*6 -MPSFEB N F ;0/" -" 1-"/" N TFNJTÛUBO WFOU B MhFYUFSJPS "DDÏT GVSHPOFUFT F $ '3"/$&4$ %& 1"6-" KUP $ .BS QMBOUB N N N .PMUB MMVNJOPTJUBU $ "3/Á4 40-&%"% FOUSFTPM DPNFSDJBM N NPMUB MMVNJOPTJUBU FO QFSG FTUBU F $ 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 N QMBOUB BTDFOTPS BM DPTUBU BVUPQJTUB " NJO EFM DFOUSF FO QFSGFDUF FTUBU 1SFDJP UPUBM F 0'*$*/&4 --0(6&3 "WEB #VGBMË FOUSFTPM N WBSJT EFTQBUYPT " " BTD F $ ®/(&- (6*.&3® N FOUSFTPM F 3".#-" 4"/5 +0"/ CBJYPT N EF QBUJ QJT N *EFBM BCBJY NBHBU[FN P UBMMFS J B EBMU PGJDJOFT 'JODB TFOTF WFÕOT F 3#-" 45 +0"/ (6*9&3&4 N [POB EF QBT F 4*453&--4 N F $ (*30/" #6'"-® N NBHBU[FN UBMMFS F $ (*30/" N PGJDJOB NBHBU[FN [POB DBSSFHB EFTDBSSFHB F $ 4"/5 .*26&- $&/53& N 4PSUJEB GVNT F %&41"59 ;0/" --03&%" N " " QFSGFDUF FTUBUBU F $ (0/(03" 4"/5 $3*45 N UBMMFS NBHBU[FN FUD F

$ 1037&/*3 IBC CBMDØ HBMFSÓB NPMUB DMBSFUBU TFOTF BTDFOTPS F 1- -" 1-"/" IBC CBMDØ UPU FYUFSJPS SU TFOTF BTD F $ 13*. IBC TFOTF BTDFOTPS F 1*40 "-26*-&3 $ 4FMWB IBC CBMDØ BTDFOTPS F 1*40 "-26*-&3 $ "OUPOJ #PUFZ IBC CBMDØ FS TFOTF BTDFOTPS F 1*40 &456%*0 $ 5PSUPTB IBC NPCMBU 1SFDJØT OPV F 1*4 &/ --0(6&3 1MBÎB MB 1MBOB IBC CBOZ UTTB T BTD SFGPSNBU F 1*4 &/ --0(6&3 ;POB #VGBMB IBCJUBDJPOT DBMFGBDDJØ UPU JODMØT F

1"3,*/(4 * 53"45&34 &/ --0(6&3 1"3,*/(4 * 53"45&34 &/ --0(6&3 1-"±" -" 1-"/" 1®326*/( 53"45&3 01$*0/"- F

/"64 &/ --0(6&3 /"64 */%6453*"-4 $0.&3$*"-4 10-¶(»/ #0/"7*45" B QBSUJS EF N FO EVFT QMBOUFT F /"6 #BSDFMPOB [POB ! $ #BEBKP[ N F /"6 1PM -FT (VJYFSFT N FRVJQBEB BNC JOTUBMBDJPOT F

7&/%" -0$"- 7*7&/%" $ */%Á453*" O N TPSUJEB GVNT 3FG F

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

QBH JOEE

727 %DGDORQD

5SPCB FM UFV JNNPCMF

LPPRELOLÁULD

+//1$+.+À4+#

1*404 0#3" /07" ".# 5&33"$&4 3*&3" ."5".0304 N IBC CBOZ BTFP CBMDØ 5FSSBTTB N å NFT 4"/5 #36 N IBC CBOZT [ BKBSEJOBEB BNC QJTDJOB CBMDØ N 1L å NFT 1- &3/&45 --6$) EÞQMFY N IBC CBOZT UFSSBTTB N CBMDØ å NFT 13&4*%&/5 $0.1"/:4 N IBC CBOZT UFSSBTTB N CBMDØ å NFT

'*/26&4 &/ 7&/%" "1"35".&/54 %Á1-&9 N IBC C [POB DFOUSF OPVT B FTUSFOBS "QUF JOWFSTJPOJTUFT $"4" .BSUÓ 1VKPM .BSJOB N 1M CBJYB QMBOUFT KBSEÓ N 1FS SFGPSNBS 0QPSUVOJUBU -0$"- FO 7&/%" BNC --0("5&3 EF N $PTUBU "KVOUBNFOU 'BÎBOB DUSB #POB SFOEB -0$"- $0.&3$*"- 0#3" /07" &/ 7&/%" (6*'3& N N BMUFMM "QUF IPTUFMFSJB

8QD ILUPD GH SUHVWLJL XXX m ORVFTCFMMBWJTUB DPN "WJOHVEB .BSUÓ 1VKPM OÞN S B

5FM

$ (VJGSÏ #BEBMPOB 5FM

XXX QSPNPDBU FT --03&%" 3FG # 1JT EF IBC FYU NFOKBEPS FYU B HSBO CBMDØ CBOZ J DVJOB SFGPSNBUT DBMF GBDDJØ J B D QJT BMU BNC NPMUB MMVN J BTDFOTPS

.QUFT å

0#3" 4&.*/07" .&3$"5 503/&3 1&1 7&/563" $&/53& 3FG "/:4 '30/5 ." " 1301 3*5*. 3FG # # 1JT IBC (6*9&3&4 CBOZ SFGPSNBU DVJOB 1JT IBC NFOKBEPS 3FG # 1JT EF PGm DF FYU B UFSSBTTB IBC NFOKBEPS FYU BNQMJ CBOZ DPNQMFU N¤ NFOKBEPS FYU DVJOB BNFSJDBOB B CBMDØ DVJOB PGm DF QBSRVFU BMVNJOJ QBSRVFU BMVNJOJ SFGPSNBEB CBOZ DBMFGBDDJØ UPU FYUF GBJH UPU SFGPSNBU QFS BSSFHMBU BTDFOTPS FOUSBS B WJVSF *EFBM SJPS "TDFOTPS 1, J 1FS FOUSBS B WJVSF QBSFMMFT USBTUFS PQDJPOBM .QUFT 1UFT 1UFT å

å

å

1*404 &/ --0(6&3 1035 %& #"%"-0/" 0#3" /07" ®UJD EF N¤ BNC IBC CBOZT BTFP UFSSBTTFT EF J N¤ [POB DPNVOJUËSJB å JODMPV QJT QL USBTUFS

4*453&--4 -PGU EF VO TPM BNCJFOU SFGPSNBU å 1&1 7&/563" 0#3" 4&.*/07" IBC UFSSBTTB EF N¤ DBMFG J B D BNPCMBU å QL PQDJPOBM #6'"-® 1JT EF IBC SFGPSNBU QFS FOUSBS B WJVSF å #6'"-® IBC EPCMFT SFGPSNBU DBMFG å 1&1 7&/563" 1JT E FTUJM BOUJD BNC IBC UFSSBTTB EF N¤ å $&/53& "7 ."35¹ 16+0- 1JT IBC CBMDØ DBMFG BTD 1FS FOUSBS B WJVSF å 1-± 1&1 7&/563" 1JT EF IBC CBMDØ CBOZ J DVJOB BSSFHMBUT BTDFOTPS å 10."3 IBC QJT DPOTFSWBU QFS FOUSBS B WJVSF å --&'*® IBC NFOKBEPS FYU SFGPSNBU BTDFOTPS 1SFV å

5FOJN NÏT QJTPT EF MMPHVFS USVDB OT

727 %DGDORQD

QBH JOEE

#6'"-® %$ 30#&35 3FG # 1JT EF IBCJUBDJPOT CBOZ J DVJOB SFGPSNBUT NFO KBEPS FYUFSJPS CBMDPOBEB *EFBM QBSFMMFT 1UFT å

1&1 7&/563" 130(3²4 3FG # #BJYPT BNC FOUSBEB JOEF QFOEFOU IBC EPCMFT NFOKBEPS FYU DVJOB J CBOZ DPOTFSWBUT QJT E FTUJM BOUJD BNC TPTUSFT BMUT *EFBM QBSFMMFT 1UFT å

0#3" 4&.*/07" "/:4 1&1 7&/563" 3FG # -PGU N¤

N¤ UFSSBTTB IBC NFOKBEPS BNC DVJOB BNFSJDBOB CBOZ DPNQMFSU J BTFP UPU OPV BTDFOTPS 1FS FOUSBS B WJVSF *EFBM QBSFMMFT QUFT å

$"4" " 1&1 7&/56

10."3 1"35 3" 4"-&4*"/4 3FG "-5" 3FG # # $BTB N 1JT DPNQMFUBNFOU FO 1# 1BUJ N SFGPSNBU BNC IB HBSBUHF 1PTTJCJMJUBU EF GFS EVFT WJWFOEFT CJUBDJPOT NFOKBEPS JOEFQFOEFOUT FYU DBMFGBDDJØ QFS 010356/*5"5 6/*$" 4 "$$&15" &- FOUSBS B WJVSF 4&6 1*4 &/53"%" QUFT QUT å

å

#6'"-® 3FG # 1JT EF IBC B B BNC CPNCB DBMPS DPOTFSWBU FO CPO FTUBU

.QUFT å

1&1 7&/563" $"4" " 1&1 7&/ 563" 3FG # 1-± #"%"-0/" $BTB BNC UFSSFOZ 3FG # 1JT N¤ J GBÎBOB EF IBC CBOZ J N QBUJ N¤ J DVJOB SFGPSNBUT UFSSBTTTB N¤ PSJFO UBDJØ NBS UÏ TPM UPU B D BNC CPNCB EF FM EJB &T QPU FEJm DBS DBMPS "TDFOTPS 1#

(0-'&4 .QUFT 1UFT å

å

LPPRELOLÁULD

025(5$ $3$57$0(172 'Ô3/(;

#(

XXX CBEBHFTUJFN DPN JOGP!CBEBHFTUJFN DPN

KDELWDFLRQHV GREOH VDOD SROLYDOHQW FXLQD FRPSOHWDPHQW HTXLSDGD 35(8 ¼

#"%"-0/" &%*'*$*0 &/ #6'"-® "7 ."35¶ 16+0- $&3$" %&- $&/530 1*404 : %Á1-&9 &/ "-26*-&3 : 01$*»/ $0.13" " 1"35*3 %& å &41&$5"$6-"3 '*/$" %& %*4&º0

7HO

"5&/$*»/ 1301*&5"3*04 5&/&.04 (3"/ $"35&3" %& $-*&/5&4 1"3" "-26*-"3 464 1*404 : -0$"-&4 130'&4*0/"-*%"% "#40-65"

3$57,&8/$5

1 * 4 0 4 & / " - 2 6 * - & 3

&RPSUDPRV VX SLVR DO FRQWDGR YDORU GH PHUFDGR 7DVDFLyQ JUDWXLWD

7HO 3,62 (1 9(17$

$9'$ $/)2162 ;,,, $1'5e6 6(*29,$

'H KDELWDFLRQHV 7RGR UHIRUPDGR ([WHULRU D OD FDOOH %DOFyQ DVFHQVRU &HUFD 0HWUR 2SRUWXQLGDG ~QLFD 3UHFLR ¼ 3$57,&8/$5

7HO

85*( 9(1'(5 &DVD D &DOGHV GH 0DODYHOOD *LURQD KDELWDFLRQV D UHIRU PDU 3DUFHOD GH P L FDVD GH P ¼

7HO

DPMrMFHJBU O

-" 4"-65 .

IBC CB×P $FSDB NFSDBEP MB TBMVU å $&/530 "QBSU BNVFCMBEP N IBC $PDJOB BNFSJDBOB CB×P EF EJTF×P SFGPS "M MBEP BZVOU : QMBZB å $&/530 0CSB OVFWB -B QMBOB 1JTP N IBC CBMDPO $FSDB SFOGF Z BZVOU å $&/530 .

IBC CB×PT CBMDPO 'JODB TF×PSJBM DPO BTDFOTPS BSNBSJPT FNQPUSBEPT å #6'"-" "W .BSUJ QVKPM $FSDB DFOUSP .

IBC CBMDPO "SNBSJPT FNQPUSBEPT DBMFG %F EJTF×P å (03( .

IBC CB×PT CBMDPO #VFO FTUBEP $FSDB NFUSP HPSH ;POBT BKBSEJOBEBT å --03&%" ;POB QSJWBEB .

IBC CB×PT UFSSB[B $PDJOB PGGJDF BSNBSJPT FNQPUSBEPT å #6'"-" 0CSB OVFWB DFSDB DFOUSP %VQMFY 'BOUBTUJDBT WJTUBT .

IBC FTUVEJP U[B EF N $BMFG å 16&350 #"%"-0/" MJOFB NBS ;POB QSJWBEB DPO QJTDJOB QBSLJOH N IBC CB×PT å $&/530 %VQMFY &TQFDU . IBC

CB×PT HBSBKF JOD FO WJWJFOEB /P EFKF EF WFSMP $FSDB EF USFO Z NFUSP å $&/530 ;POB QSJW $PO QJTDJOB B NJO 1MBZB BNVFCMBEP N IBC QBSLJOH %F EJTF×P å #6'"-" $FSDB DFOUSP %VQMFY EF EJTF×P N U[B EF N KBSEJO EF N (BSBKF EFOUSP EF MB WJWJFOEB å

1 * 4 0 4 & / 7 & / 5" ;0/" 16&350 MJOFB EF NBS &TQFDU WJTUBT ;POB QSJW $PO QJTD QL .

N EF U[B IBC CB×PT å $&/530 $FSDB QSJN 3FGPS B FTUSFOBS .

IBC CB×P $FSDB QMBZB [POBT DPNFS 'JODB DPO QPDPT WFDJOPT å 5*"/" %VQMFY EJTF×P P OVFWB ; DFOUSP MBEP BZVOU 4JO WFDJOPT .

N U[B IBC C×T ; SFTJEFODJBM å

- 0 $" - & 4 : 0 ' * $ * / " 4 & / " - 2 6 * - & 3 $&/530 $PMM J QVKPM 0GJDJOBT N BTFP B B å #6'"-" 0GJDJOB DFSDB DFOUSP 0CSB OVFWB . B NJOU $FOUSP %FTQBDIPT TBMB å $&/530 0GJDJOB N FO QMBOUBT BQUP QBSB PGJDJOBT P DPOTVMUBT " NJO "ZVOU : SFOGF å $&/530 -PDBM DPNFSDJBM N B NJO 3FOGF Z NFUSP "QUP QBSB EFTQBDIPT HBCJOFUFT FTUÏUJDBT QFMVRVFSJBT å (03( -PDBM N B NJO DFOUSP DPNFSDJBM NBHJD CEO .VZ DPNFSDJBM *EFBM QBSB UPEP UJQP DPNFSDJPT å .0/5*("-" -PDBM DPNFSDJBM N FO QMBOUB 1SFQBSBEP QBSB UJFOEB Z BMNBDFO &O MB NFKPS [POB EF NBZPSJTUBT å $&/530 0GJDJOB BMUP TUBOEJOH N FO FEJGJDJP DPNFSDJBM UPUBMNFOUF FYUFSJPS B NJO .FUSP Z USFO å $&/530 " NJOVUP SFOGF CBEBMPOB -PDBM N FO QMBOUB N FO BMUJMMP (SBOEFT DSJTUBMFSBT å

1" 3 , * / ( 4 & / " - 2 6 * - & 3 : 7 & / 5" 1&1 7&/563" $ ;BSBHP[B $FSDB EF NFUSP 1MB[B QBSB DPDIF HSBOEF å $&/530 $FSDB EF MB QMBOB $ HVJGSF 1MB[BT å

$ $PMM J 1VKPM #EO DFOUSP 5FM

#&--"7*45" 4&37&*4 *..0#*-*"3*4

1*404 * $"4&4 &/ --0(6&3 $BOZBEØ IBC CBOZ UPU FYUFSJPS CBMDØ NBHOÓGJRVFT WJTUFT BM NBS å $FOUSF IBC CBOZ PO TFOTF BTDFOTPS å $ 4BOU 1BV N IBCJUBDJPOT CBOZT å 1SFTJEFOU $PNQBOZT N IBC CBOZT 1BSLJOH EPCMF PQD å $ EFM .BS ®5*$ .0#-"5 IBC CBOZT UFSSBTTB å

-0$"-4 &/ --0(6&3 $FOUSF $ 4BOU 3BGFM N TFOTF DPMVNOFT "QUF .BHBU[FN HBSBUHF å 0GJDJOB DPTUBU "KVOUBNFOU N CBOZ *EFBM DPOTVMUPSJ FTUVEJ å -PDBM NBHBU[FN ;POB ' .BDJË N NÏT N BMUFMM J N QBUJ å $PTUBU "KVOUBNFOU N .PMU DPNFSDJBM RVBMTFWPM BDUJWJUBU $POTVMUBS 1MBDFT EF 1ËSRVJOH $FOUSF $ 4BOU 3BGBFM J $ 'SBODFTD -BZSFU 1MBDFT HSBOT

010356/*5"54 7&/%&4 $FOUSF 0GJDJOB &O 7FOEB N CBOZ *EFBM DPOTVMUPSJ FTUVEJ å -PDBM 1M "MDBMEF 9JGSÏ N QFS PGJDJOFT BNC UPUT FMT TFSWFJT å -PDBM ;POB $FOUSF 3FOGF N DBOUPOFS å $BTB B %BMU -B 7JMB IBC *EFBM QBSFMMFT )JQPUFDB DPODFEJEB å $BTB "OUJHB $FOUSF QBSDFMrMB N FEJGJDBUT N NÏT N EF KBSEÓ $POTVMUBS $FOUSF %VQMFY 0CSB /PWB IBC C DBM J BD QMBRVFT TPMBST 0DBTJØ 1JT $ .FTUSF /JDPMBV N IBC CBOZT UFSSBTTB N å 5PSSF FO 7FOEB .BT 3BN QBSDFM MB N IBC QJTD Á/*$" $POTVMUBS

$ 4BOU "OBTUBTJ O 5FM

QBH JOEE

727 %DGDORQD

'PJY $BSCØ BTTPDJBUT

LPPRELOLÁULD

1. .')+#6

(àFMM J 'FSSFS CBJYPT #"%"-0/" r XXX GPJYDBSCP FT - - 0 ( 6 & 3 # " % " - 0 / " 1*4 " 1- ."3*/"%" IBC UFSSBTTB FYUFSJPS å 1*4 " $ $0-- * 16+0- N IBC å 1*4 " $ "-'0/4 9** N IBC UFSSBTTB å 1*4 " $ 5&.1-& IBC å 1*4 " $ $0-- * 16+0- IBC å 1*4 " $ (Ã&-- * '&33&3 IBC å 1*4 " $ "-'0/4 9** IBC å 1*4 " $ 1307*%&/$*" IBC å 1*4 " $ (3"/"%" MPGU N å $"4" " $ (3"$*" IBC NPCMBEB QBUJ å 53"45&3 " $ (6*9&3&4 N å -0$"- " $ *4""$ 1&3"- N å -0$"- " $ *(/"4* -0*0-" -" 1-"/" N å -0$"- " $ (Ã&-- * '&33&3 N TPUFSSBOJ N å -0$"- " $ 1307*%&/$*" N TPUFSSBOJ N å -0$"- " $ .*26&- 4&37&5 N å -0$"- " $ "-'0/4 9** N TPUFSSBOJ N å -0$"- " $ "-'0/4 9** N å -0$"- " $ 0-*7&3"4 N å %&41"59 " $ (Ã&-- * '&33&3 QMBOUB N å %&41"59 $ *(/"4* -0*0-" -" 1-"/" N å 1-"±" 1, .050 " $ (6*9&3&4 å 1-"±" 1, $059& " $ "3/Á4 å 1-"±" 1, .050 " $ -"*&5"/*" å

4"/5 "%3*® %&- #&4¾4

7 & / % "

45 *4$-& %& 7"--"-5" 1"3$&-" N F

5FM "ENJOJTUSBEPST "TTPDJBUT "HFOU EF MB 1SPQJFUBU *NNPCJMJËSJB "1* 6OL LLOGAR EL SEU PIS &ACI 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" $&/53& 1# 1*4 . SFCFEPS NFOKBEPS TBMB DVJOB SFGPS QBUJ QFUJU MBWBCP IBC #BOZ DPNQMFU OPV UTTB CBMDØ J BMUFMM å 5&33&/: 1&3 &%*'*$"3 7"3*4 o 63# ."4 3". 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 IBCJUBDJPOT CBOZT DPNQMFUT UFSSBTTB (BSBUHF J CPEFHB å -0$"- PGJDJOFT N $ +PBO 1FJSØ JEFBM QFS B RVBMTFWPM OFHP DJ å OFHPDJBCMFT

--0(6&3

1*404

1*4 "- $&/53& QJT EF N NFOKBEPS DVJOB SFGPSNBEB CBOZT IBCJUBDJPOT BNC UFSSTTB OP FT QFSSNFU BOJNBMT å %&41"59 1SFTJEFOU $PNQBOZT UPU SFGPS N BQSPY $0/46-5"3 %&41"59 $µ/53*$ "- $045"5 %& - "+6/5".&/5 &45"5 &9$&-r-&/5 *%&"- 1&3 26"-4&70- 5*164 %& /&(0$* .

"1309 $0/46-5"3 -0$"-

-0$"- $ 4BOU (POÎBM N JEFBM NBHBU[FN å -0$"- "35*(6&4 $ #"-.&4 N¤ SFGPSNBU QPSUFT å -0$"- * 0'*$*/&4 +PBO 1FJSØ EJTQPTB EF HVBM " $0/7&/*3 -0$"- $ "MGPOT 9*** N SFGPSNBU CBOZT JEFBM QFS B CBOD P DPO TVMUPSJT å 1®326*/(4

1-"±" ("3"5(& $ 3JFSB .BUBNPSPT å 7JB "VHVTUB -MFUSB # S (BMFSJFT 7JDUÛSJB 5FM 'BY t #BEBMPOB

727 %DGDORQD

QBH JOEE

,KZ ϮϬϵ͘ϬϬϬ Φ Ͳ hKd ϴϰϬ Φ ^ƌ͘ ŶƚŽŶŝŽ ϲϲϬ͘ϴϭϵ͘ϰϭϯ

>KE ͬ ƚƌĂ͘ ŶƟ ŐƵĂ sĂůĞŶĐŝĂ Ͳ ŶĚƌĞƐ ^ĞŐŽǀŝĂ

5 * " / "

1-"±" 1, $ 1"44&*( 7*-&4" F

&ĂŶƚĄƐƟ ĐŽ ƉŝƐŽ ĚĞ ϰ ŚĂďŝƚĂĐŝŽŶĞƐ͕ ĐŽĐŝŶĂ ĞƋƵŝƉĂĚĂ͕ ďĂŹŽ ĐŽŵƉůĞͲ ƚŽ͕ ďĂůĐſŶ Ă ůĂ ĐĂůůĞ͕ ƚŽĚŽ ƌĞĨŽƌŵĂĚŽ͘ WĂƌĂ ĞŶƚƌĂƌ Ă ǀŝǀŝƌ͘ &ƌĞŶƚĞ ĨƵƚƵƌĂ ƉůĂnjĂ͘ DƵLJ ďŝĞŶ ĐŽŵƵŶŝĐĂĚŽ͘ KĐĂƐŝſŶ͊​͊ ŶƚĞƐ Ϯϳϱ͘ϬϬϬ Φ

# " % " - 0 / " $"4" $ $0/$)" &41*/" N QM CBJYB TFNJOPWB IBC CBOZT USTB QL F $"4" $ $&37"/5&4 N TFNJOPWB TPUFSSBOJ N QC N QJT N IBC CBOZT USTB QBUJ F $"4" " $ (3"$*" N IBC UFSSBTTB QBUJ F $"4" " $ *4*%3& IBC CBOZT CBEJV F 1*4 " $ $0-- * 16+0- N IBC UFSSBTTFT F 1*4 " $ ®(6&%" .0.1&- N IBC SFGPSNBU F 1*4 " $ ."%0; N IBC 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 -0$"- " $ "-'0/4 9** N F -0$"- " ."3*" "69*-*"%03" N F

hZ' s E Z

1*4 " "7%" -" 1-"5+" N IBC F 1*4 " $ "/%3&4 7*%"- N IBC F

LPPRELOLร ULD

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

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

-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& &/ 7&/5" #"%"-0/" $ $03%&34 . . 1-"/5" #"+" "-5*--0 50%04 -04 46.*/*45304 &6304 &/ 7&/5" -0$"- &/ 4 "%3*ยซ/ . &/53"%" %& $0$)&4 รฅ &/ 7&/5" -0$"- &/ #"%"-0/" $ ("-*-&6 -0$"- %*ยซ'"/0 %& . "150 1"3" $6"- 26*&3 /&(0$*0 01$*ยป/ " $0/4536*3 7*7*&/%" 0 %ร 1-&9 &/$*." %& . รฅ &/ 7&/5" #"%"-0/" 3*&3" ."5".0304 -0$"- 0 7*7*&/%" 16&35" .54 "-."$ยฒ/ .54 : -"7"#0 &6304 &/ "-26*-&3 /"7& */%6453*"- -&4 '3"/26&4&4 %&- 7"--ยต4 . &/ 1-"/5" #"+" . &/ 1-"/5" 461&3*03 (3"/ 1"5*0 %& . รฅ .&4 &/ "-26*-&3 -0$"- &/ #"%"-0/" $ 4"/ 4"-7"%03 %&45*/"%0 " 0'*$*/"4 $0/46-50 3*0 .ยฒ%*$0 %&41"$)04 %& &--04 . รฅ .&4 &/ "-26*-&3 -0$"- &/ #"%"-0/" $ 4"-7"%03 %&45*/"%0 " 0'*$*/"4 $0/46-503*0 .ยฒ%*$0 %&41"$)04 . รฅ .&4 &/ "-26*-&3 -0$"- #"%"-0/" #6'"-ยฎ $ +0)/ -&//0/ . #"ยบ0 &95&3*03 รฅ .&4 &/ "-26*-&3 -0$"- #"%"-0/" $ */%&1&/%&/*$" . %*ยซ'"/0 /0 4"-*%" %& )6.04 -"7"#0 -0$"- &/ 1&3'&$50 &45"%0 "- .&4

1*404 &/ 7&/5" : "-26*-&3 &/ "-26*-&3 -" 4"-65 )"# #"ยบ0 1"3" &/53"3 " 7*7*3 "-26*-&3 รฅ .&4 1*40 "-26*-&3 4"/50 $3*450 #"%"-0/" )"#*5"$*0/&4 #"ยบ0 $0$*/" "4$&/403 ".6&#-"%0 1"3" &/53"3 " 7*7*3 &6304 "- .&4 &/ "-26*-&3 1*40 45" $0-0." )"# #"ยบ0 $0$*/" &6304 "- .&4 1*40 &/ "-26*-&3 &/ #"%"-0/" $&/530 $ 4"/5 +04&1 %& 304&4 )"#*5"$*0/&4 #"ยบ04 )"# $0/ #"ยบ0 4"-ยป/ $0$*/" $0.1-&5" 5&33";" #"-$ยป/ "4$&/403 1"3,*/( 1"3" &/53"3 " 7*7*3 รฅ &6304 1"3,*/( &6304 &/ 7&/5" 1*40 $ +07&--"3 #"%"-0/" )"#*5"$*0/&4 $0.&%03 %& . $0/ 1"3 26&5 $0$*/" #"ยบ0 : 5&33";" 1"3" &/53"3 " 7*7*3 &6304 &/ 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 &/ 7&/5" 1*40 &/ #"%"-0/" $ 4"/5" ."3*" )"#*5"$*0/&4 . /0 5*&/& "4$&/ 403 ย 1*40 &6304 7&/5" 1*40 #6'"-" )"# #"ยบ0 $0$*/" /6&7" . &6304 &/ 7&/5" 1*40 4"/50 $3*450 )"# #"ยบ0 . &6304 &/ 7&/5" 1*40 &/ #"3$&-0/" $ #"-.&4 )"#*5"$*0/&4 #"ยบ0 $0$*/" ("-&3*" $6#*&35" . &6304 &/ 7&/5" 1*40 #"%"-0/" -" 4"-65 $ .*(6&- 13"54 . )"#*5"$*0/&4 : #"ยบ0 $0$*/" $0/ ("-&3*" #0.#" %& "*3& : $"-03 /0 5*&/& "4$&/403 13&$*0 รฅ &/ 7&/5" 1*40 &/ $ ยซ/(&- (6*.&3ยซ #"%"-0/" 4"/50 $3*450 )"# #"ยบ0 $0$*/" "4$&/403 ".6&#-"%0 1"3" &/53"3 " 7*7*3 &6304 "- .&4 &/ 7&/5" 7*7*&/%" &/ #"%"-0/" $ .63*--0 1-"/5" #"+" . %*ยซ'"/0 $0/ 4"-ยป/ $0.&%03 -"7"#0 "4&0 $0$*/" )"# $-"3"#0:"4 53"45&30 5&33";" 4ยป5"/0 . 1"5*0 +"10/ยฒ4 %*ยซ'"/0 0#3" 1&/%*&/5& 5&3.*/"3 รฅ 5&3.*/"%" รฅ $"4" &/ 7&/5" $".ยถ %h"-&--" 1-"/5"4 . )"#*5"#-&4 : . 4*/ )"#*5"3 ย 1-"/5" $6"3504 %& #"ยบ0 $0.1- 4"-ยป/ $0.&%03 $0$*/"4 )"# (0-'"4 ("3"+& 1"3" $0$)&4 &426*/&3" +"3%ยถ/ . : 0530 %& . 5&33";"4 %& . &6304

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

QBH JOEE

727 %DGDORQD

W/^K^ ϰ , /d /KE ^ ϯϰϮ Ͳ ϭϭϴ ŵϸ͕ ϰŚĂď͕ ƐĂůſŶ Ϯϯ ŵϸ͕ ďŹнĂƐĞŽ͕ ĐŽŵŽ ŶƵĞǀŽͲ ĞdžƚĞƌŝŽƌ ďĂůĐſŶ Ϯϭŵϸ͕ ĂͲŐͲů͘ ϴϯϬ ΦͬŵĞƐ

LPPRELOLÁULD

W/^K^ E >Yh/> Z ͼ 'KZ' ʹ D '/ E W/^K^ Ϯ , /d /KE ^ ͳ /^WKE/ > ϮϬ ^ Wd/ D Z ϭϯϮ Ͳ ϳϱ ŵϸ͕ Ϯ ŚĂď͕ ƐĂůſŶ ϮϮ ŵϸ͕ ďŹ͕ ďƵĞŶ ĞƐƚĂĚŽ͕ ĞdžƚĞƌŝŽƌ͕ ƚĞƌƌĂnjĂ ϵ͕ϱŵϸ͕ ĂͲŐͲů ϲϬϬ ΦͬŵĞƐ

Ͳ DƵĐŚĂ ůƵnj͘ 'ƌĂŶĚĞƐ ƚĞƌƌĂnjĂƐ LJ ďĂůĐŽŶĞƐ͘ Ͳ ĂůĚĞƌĂ Ͳ ĐĂůĞĨĂĐĐŝſŶ Ă ŐĂƐ͘ Ͳ ĂŹŽƐ ĐŽŵƉůĞƚĂŵĞŶƚĞ ĞƋƵŝƉĂĚŽƐ͘ Ͳ WƵĞƌƚĂ ĞŶƚƌĂĚĂ ďůŝŶĚĂĚĂ͘ Ͳ ƌŵĂƌŝŽƐ ĞŵƉŽƚƌĂĚŽƐ͘ Ͳ /ŶƐƚĂůĂĐŝſŶ ĐŽůĞĐƟ ǀĂ ĚĞ ĂŶƚĞŶĂ ƌĂĚŝŽ LJ d͘s͘ Ͳ WŽƌƚĞƌŽ ĂƵƚŽŵĄƟ ĐŽ͘ ƐĐĞŶƐŽƌ͘ Ͳ WĂƌƋƵŝŶŐ ŽƉĐŝŽŶĂů ĂĐĐĞƐŝďůĞ ĚŝƌĞĐƚĂŵĞŶƚĞ Ăů ƉŝƐŽ ƉŽƌ ĂƐĐĞŶƐŽƌ͘ Ͳ ŵƉůŝĂƐ ĐŽĐŝŶĂƐ ĐŽŶ ĞŶĐŝŵĞƌĂ͕ ŚŽƌŶŽ͕ ĐĂŵƉĂŶĂ ĞdžƚƌĂĐƚŽƌĂ͕ ĂƌŵĂƌŝŽƐ͘​͘​͘​͘ ;'ĂƌĂŶơ ĂƐ͗ ƐĞ ǀĂůŽƌĂƌĄŶ ŝŶĨŽƌŵĞƐ LJ ƌĞĨĞƌĞŶĐŝĂƐͿ

ϲϰϱ ϴϰ ϰϱ ϮϬ ͮ ǁǁǁ͘ŐƉǀ͘ĞƐ "%.*/*453"%03&4 %& '*/$"4

6U 3URSLHWDULR

4S 1SPQJFUBSJP BMRVJMBNPT TV JONVFCMF TJO HBTUPT QBSB VTUFE

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

(BSBOUJ[BNPT FM DPCSP NFOTVBM 5FOFNPT QJTPT FO BMRVJMFS .6: &$0/».*$04 FO UPEB MB [POB EF #BEBMPOB

7HO ££ ,1)Ð50(6(

$)"-&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

+OOQDKNKCTKU %QORTC 8GPFC $&/530 %& #"%"-0/" 7&/5" %& $"4" -0$"- */$-6*%0 "DUVBMNFOUF QF MVRVFSJB N UPUBM QSFDJP å 5&- 4& 7&/%& 0 4& "-26*-" 1*40 FO MB TBMVE EF N IBC EPCMF DPNFEPS DPDJ OB CB×P UFSSB[B EF . å å NFT 5&-

7&/%0 «5*$0 N IBCJUBDJPOFT UFSSB[B QFSGFD UP +VOUP B 3CMB 4BO +VBO å 5&- 1"3,*/( &/ 7&/%" B MB 1MB OB %PT EF NBJH DBOUPOBEB &OSJD #PSSËT å 5&-

&4 7&/ 1*4 TJUVBU BM DBSSFS +BVNF 4PMË 3FGPSNBU BNC FMFDUSPEPNÒTUJDT JODPSQP SBUT #BOZ NFOKBEPS DVJOB HSBO SFCFEPS SFCPTU J IB CJUBDJPOT DBMFGBDDJØ .

1SFV å 5&- "-#&35

& / 7 & / % " 1 - " ± " %}"1"3$".&/5 BM DBSSFS (VJGSÏ 1SFV å 5&-

53"45&30 1"35*$6-"3 &/ 7&/5" å 5SBTUFSP EF N BQSPY #BEBMPOB DFOUSP GSFOUF BVUPQJTUB QSJWBEP Z GÈDJM BDDFTP 5&-

$"4" " 1&1 7&/563" 3&' # DBTB BNC UFSSFOZ EF N¤ J GBÎBOB EF N QBUJ EF N¤ J UFSSBTTTB EF N¤ PSJFOUBDJØ NBS UÏ TPM UPU FM EJB &T QPU FEJGJDBS QC

HPMG FT .QUFT å 5&-

&DPOPNJDT JOEE

$0.130 1"3,*/( QBSB DP DIF FO FM CBSSJP #VFOBWJTUB 5&- .":

010356/*5"5 $"4" " 1&1 7&/563" " 1301 $ (6* '3² 3&' # (SBO DBTB FO QC

QBUJ N J HBSBU HF 1PTTJCJMJUBU EF GFS EVFT WJWFOEFT JOEFQFOEFOUT 1SFV NQUT å 4 BDDFQUB FM TFV QJT E FOUSBEB 5&-

4& 7&/%& 1*40 &/ "7%" .0/54&33"5 EF #BEBMPOB N BQSPY *OUFSJPS TJO BTDFOTPS IBC Z TF FO USFHB SFGPSNBEP B TV HVTUP å */'0 5&-

1*4 *%&"- 1"3&--&4 " #6 '"-® %$ 30#&35 3&' # QJT BNQMJ EF IBC NFOKBEPS FYU CBOZ J DVJOB SFGPSNBUT QJT FYUFSJPS J BNC NPMUB MMVN .QUFT å 7JOB B WFVSF M 5&-

4& 7&/%& &41&$5"$6-"3 $"4" &/ -" .03&3" B WJFOUPT EF N QBUJPT UFSSB[BT Z TPMBSJVN IBCJ UBDJPOFT CB×PT BTFP HBSBKF QJTDJOB CPEFHB $BMF GBDDJØO BJSF BDPOEJDJPOBEP FUD å *7" "CUÏO HBOTF DVSJPTPT */'0 5&-

4& 7&/%& 0 "-26*-" 1*40 &/ 10/50/4 OVFWP BNVF CMBEP "MRVJMFS å 7FOUB å */'0 5&-

1&1 7&/563" 3&' # QJT EF N¤ BNC IBC CBM DØ UPU SFGPSNBU QFS FOUSBS B WJVSF BTDFOTPS .

QUFT å 7JTUFT FTQFD UBDVMBST 5&-

4& 7&/%& 1-";" %& 1"3 ,*/( $BOZBEØ å 5&-

1&1 7&/563" 3FG QJTP IBCJUBDJPOFT BOUFT SFGPS NBEP BTDFOTPS BBDD BM MBEP NFUSP BNVFCMBEP å 5&-

--03&%" 3&' # QJT EF IBC NFOKBEPS EF N¤ FYU B CBMDØ UPU SFGPSNBU QJT BMU BNC BTDFOTPS J NPMUB MMVN .QUFT å 5&-

'30/5 ."3*5*. 3FG QJTP IBC %PCMFT CB×PT CBMDPO BTDFOTPS MJOFB EF NBS [POB DPNVOJUBSJB DPO QJTDJOB PCSB DBMF GBDD (BT OBUVSBM å 1UT 5&-

4& 7&/%& $"4" %& N FO (JSPOFMMB #FSHB " QJF TBMJEB EF BVUPQJTUB 0$" 4*»/ å */'0

1-";" %& 1"3,*/( &/ 7&/ 5" 5033&/5 %& #"5--0 3*" 5JFOF BTDFOTPS 1MB[BT P .FEJEBT Y 13&$*0 å 5&- 1"53*

4& 7&/%& 1*40 N FO .PSFSB IBC CB×PT CBMDPOFT " " DBMFGBDDJØO ;POB DPNVOJUBSJB DPO KBSEÓO QJTDJOB Z QJTUB EF CÈTRVFU 1ËSRVJOH Z USBTUFSP JODMVJ EPT å */'0 5&-

1-";" %& 1"3,*/( &/ 7&/ 5" 0 "-26*-&3 5033&/5 %& #"5--03*" 5JFOF BT DFOTPS 1MB[BT 1MBOUB 1SJNFSB .FEJEBT Y 13&$*0 7&/5" å 13& $*0 "-26*-&3 å 5&- 1"53*

-0$"- &/ 7&/5" &/ $ 26&7&%0 CBSSJP -B 4BMVE

EF N EJÈGBOP DPO WBEP å 5&-

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

4& 7&/%&/ 1-";"4 %& 1"3,*/( */%&1&/%*&/5&4 5033&/5 %& #"5--03*" " QJF EF DBMMF 'ÈDJM BDDFTP 5JFOF BTDFOTPS .FEJEBT Y 13&$*0 å 5&- 1"53* 0$"4*»/ 1*40 50%0 3& '03."%0 1*40 &/ 7&/5" &/ $ -*4;5 1JTP EF N BMUVSB SFBM IBCJUBDJPOFT DPDJOB Z CB×P SFGPSNBEPT DBSQJOUFSÓB EF BMVNJOJP DPO NPTRVJUFSBT SFKBT UFSSB[B Z HBMFSÓB 1VFSUBT Z TVFMP DPO TFSWBEPT 13&$*0 å 5&- 1"53* "5*$0 &/ 7&/5" &/ $ .*-" * '0/5"/"-4 45" $0-0."

(3"."/&5 N IBCJUB DJPOFT TBMØO DPNFEPS EF N¤ DPDJOB Z CB×P DPNQMFUP SFGPSNBEPT BEFNÈT EF UF SSB[B EF N¤ $BSQJOUFSÓB EF BMVNJOJP QVFSUBT SPCMF TVFMP EF HSFT "JSF "DPOEJDJPOBEP 'SÓP Z $BMPS 4PMFBEP 13& $*0 å 5&- 1"53* %61-&9 &/ 7&/5" ;0/" "-$".10 45 "%3*" .¤ 'JODB OVFWB EF UBO TPMP WFDJOPT IBCJUBDJPOFT CB×P DPNQMFUP Z BTFP EPT CBMDPOFT Z HSBO UFSSB[B DBMF GBDDJPO 1SFDJP &VSPT 5&- 1"53* 1*40 &/ 7&/5"o+0$4 '-0 3"-4 #"%"-0/" .¤ 'JODB DPO BTDFOTPS IBCJ UBDJPOFT TBMØO TPMFBEP DPO CBMDØO DPDJOB Z CB×P EF DVBUSP QJF[BT SFGPSNBEPT TVFMP EF QBSLFU DBMFGBDDJØO Z BJSF BDPOEJDJPOBEP 13&$*0 7&/5" å 5&- 1"53* 1*40 &/ 7&/5" &/ --03& %" EF NUST IBCJUBDJP OFT VOB EF FMMBT TVJUF $PDJOB BNQMJB CB×PT UPEP OVFWP 1BSRVFU DBMFGBDDJØO Z BJSF BDPOEJDJPOBEP "TDFOTPS 13&$*0 7&/5" å 5&- 1"53* 727 %DGDORQD

&DPOPNJDT JOEE

FODVVLILFDWV

1 * 4 0 & / 7 & / 5" o ; 0 / " $0-- * 16+0- .¤ GJODB D P O B T D F O T P S I B C JU B DJPOFT EPCMF CBÃ&#x2014;P EF PSJHFO DPDJOB SFGPSNBEB CBMDÃ&#x2DC;O FYUFSJPS DFSSBEP DPO DBSQJOUFSÃ&#x201C;B EF BMVNJOJP 1VFSUBT EF PSJHFO " " DPO CPNCB EF DBMPS DBSQJOUFSÃ&#x201C;B EF BMVNJOJP Z TVFMP HSFT (BT DJVEBE 13& $*0 7&/5" Ã¥ 5&- 1"53*

+OOQDKNKCTKU .NQIWGT -0$"- 0'*$*/" $0.&3 $*"- FO [POB QFBUPOBM DP NFSDJBM $ 3PTFMMÃ&#x2DC; #BEBMP OB N 1SFDJP Ã¥ NFT "DPOEJDJPOBEP 5&-

- -0 ( 6 & 3 -0 $ " - $ $ " / 0 / ( & # " 3 " / & 3 " $"4" &/ 7&/5" 0 "-26* N ;POB $FOUSF .PMU DP -&3 &/ 4"/5 $&#3*® %& NFSDJBM 1PTTJCJMJUBU WFOEB 7"--"-5" EF BÃ&#x2014;PT EF Ã¥ .FT 5&- BOUJHà FEBE EF NUST DPOTUSVJEPT NÃ&#x2C6;T NUST EF KBSEÃ&#x201C;O Z NUST EF --0(0 1*4 */%&1&/%&/5 EF N N E}BMUFMM UFSSFOP IBCJUBDJPOFT IBC UPU FYUFSJPS B NJ CBÃ&#x2014;PT UFSSB[B QBMB[B HB OVUT .FSDBEPOB 5&- SBKF USBTUFSP DBMFGBDDJÃ&#x2DC;O CVFO FTUBEP 13&$*0 "- 26*-&3 Ã¥ .&4 1-";" %& 1"326*/( FO 13&$*0 7&/5" Ã¥ BMRVJMFS Ã¥ EJB ;POB DFOUSP 5&- 5&- 1"53* %"-5 %& -" 7*-" &T MMPHB MPDBM DPNFSDJBM BM DBSSFS EF #BSDFMPOB DBOUPOBEB BNC 2VJOUBOB "MUB EF N

BMUFMM *OUFSFTTBUT USVDBS BM 5&-

$"4" &/ 7&/5" 0 "-26* -&3 &/ $"--& .*(+03/ # B E B M P O B E F N U S T USFT IBCJUBDJPOFT Z VOB CVIBSEJMMB TBMÃ&#x2DC;O DPNFEPS EPT CBÃ&#x2014;PT NÃ&#x2C6;T VO BTFP DPDJOB KBSEÃ&#x201C;O HBSBKF QBSB EPT DPDIFT USBTUFSP EPT UFSSB[BT QBSB FOUSBS B WJWJS 13&$*0 7&/5" Ã¥ 13&$*0 "-26*-&3 Ã¥ 5&- 1"53*

0 $ " 4 * » / 1 - " / 5" #"+" &/ 7&/5"Â&#x2030;;0/" 450 $3*450 N IB CJUBDJPOFT EPCMFT DPDJOB Z CBÃ&#x2014;P SFGPSNBEPT 8$ 1-"±" #"30 %& ."-%" Z EVDIB JOEFQFOEJFOUF

QJTPT E PCSB OPWB EF IBC BEFNÃ&#x2C6;T EF HBMFSÃ&#x201C;B $BS NFOKBEPST BNQMJT UFSSBT QJOUFSÃ&#x201C;B EF BMVNJOJP QVFS TFT EF N¤ DVJOBT PGGJDF CBOZT "TDFOTPS Ã¥ 1L UBT TBQFMZ TVFMP EF HSFT PQDJPOBM Ã¥ JWB 5&- 4PMFBEP -JTUB QBSB FOUSBS

B WJWJS 13&$*0 å /&(0$*"#-&4 5&- 1-";" 1"3,*/( &/ 7&/5" 1"53* FO MB DBMMF 4BO +VBO EF -B 1 & 1 7 & / 5 6 3 " Q JT U JQ V T DBTB BNC IBC NFOKBEPS $SV[ EF #BEBMPOB .FEJ 1 * 4 0 & / 7 & / 5" o ; 0 / " EBT 9 NUST 13&$*0 EF N¤ FYU B UFSSBTTB EF 1"#&--0/ %& +07&/565 7&/5" å 5&- N¤ CBOZ SFGPSNBU DVJOB BNFSJDBOB B D BNC CPNCB .¤ GJODB DPO BTDFOTPS 1"53* DBMPS 1SFV å 5&- Z N V Z M V N J O P T P 5P E P

FYUFSJPS IBCJUBDJPOFT 0$"4*»/ 1*40 50%0 3& EPCMF BTFP Z CBÃ&#x2014;P '03."%0 1*40 &/ 7&/ #6'"-® " 1301 $ 4"3 DPO DVBUSP QJF[BT DPDJOB % " / " I B C E P C M F T

S F G P S N B E B D P O HB M F S Ã&#x201C; B 5" 450 $3*450 1JTP EF SFGPSNBU DBMFG 1SFV Ã¥

N¤ BTDFOTPS

TPMFBEP CBMDÃ&#x2DC;O FYUFSJPS BSNBSJPT 5&- F N Q P U S B E P T F O Q B T J M M P Z UPEP SFGPSNBEP IBCJ UBDJPOFT QBSLFU Z QVFSUBT DBMFGBDDJÃ&#x2DC;O DBSQJOUFSÃ&#x201C;B EF BMVNJOJP DPO DSJTUBM EPCMF Z EF IBZB DBSQJOUFSJB EF BMV 1-± 1&1 7&/563" QJT EF TVFMP UFSSB[P ;POB $PNV NJOJP CMBODB HBT OBUVSBM N¤ BNC IBC NFOKBEPS OJUBSJB Z 'JODB UPUBMNFOUF Z CBMDPO "MUJMMP FO QBTJMMP FYU B CBMDÃ&#x2DC; CBOZ J DVJOB SFIBCJMJUBEB 13&$*0 7&/ 'BDIBEB SFGPSNBEB 1SFDJP BSSFHMBUT BTDFOTPS 1FS FO 5" Ã¥ /&(0$*"#-&4 Ã¥ 5&- USBS B WJVSF Ã¥ 5&- 1"53* 5&- 1"53*

&DPOPNJDT JOEE

727 %DGDORQD

$&/53& "7 ."35¹ 16+0- QJT EF IBC FYU CBMDÃ&#x2DC; DB MFG BTDFOTPS 1FS FOUSBS B WJVSF Ã¥ 5&-

1&1 7&/563" 0#3" 4&.* /07" QJT EF N¤ IBC CBOZ DPNQMFSU DVJOB PGGJDF NFOKBEPS EF N¤ UFSSBTTB E F N ¤ D B M F G J B D BNPCMBU å1L PQDJPOBM 5&-

4*453&--4 MPGU EF VO TPM BNCJFOU SFGPSNBU å 5&-

# 6 '" - ® Q J T E F I B C SFGPSNBU QFS FOUSBS B WJV SF å 5&-

1&1 7&/563" QJT EF IBC BNC NPCMFT BTDFOTPS QFS FOUSBS B WJVSF å .FT 5&-

"7 "'3*$" QJT EF N¤ IBC SFGPSNBU BTDFO TPS Ã¥ .FT UPU JODMÃ&#x203A;T

5&-

10."3 IBC QJT DPOTFSWBU QFS FOUSBS B WJVSF å 5&-

1&1 7&/563" QJT E FTUJM BOUJD BNC IBC UFSSBTTB EF N¤ å 5&-

&4 --0(" 6/" 1-"±" %& 1"3,*/( EF NPUP BM DFOUSF EF #BEBMPOB 5SVDB BM

%61-&9 &/ "-26*-&3 +50 .&530 : 1;" 1&1 7&/56 3" 0CSB OVFWB B FTUSFOBS UPUBMNFOUF FYUFSJPS Z NVZ TPMFBEP IBC CBÃ&#x2014;PT BNQMJP DPNFEPS TBMÃ&#x2DC;O DPO DPDJOB BNFSJDBOB 5&33" ;"4 40-"3*6. `7FBMP Ã¥ 5&- %*3&$50 130.0503

FODVVLILFDWV

1035 %& #"%"-0/" 0#3" /07" Ã&#x2039;UJD EF N¤ BNC IBC CBOZT BTFP NFO KBEPS EF N¤ UFSSBTTFT EF J N¤ [POB DPNVOJUÃ&#x2039;SJB /PV B FTUSFOBS Ã¥ *ODMPV QJT QL USBTUFS 5&-

"-26*-0 1-"/5" #"+" %F PCSB OVFWB B FTUSFOBS FO DBTDP BOUJHVP EF 4U #PJ IBCJUBDJPOFT QBUJP EF N CBÃ&#x2014;P Z DPDJOB FRVJQBEPT Ã¥ NFT Z Ã¥ EF GJBO[B 5&- 1*404 "-26*-&3 $ "OUPOJP #PSJ 1JTPT EF B N IBC TVJUUF DPO CBÃ&#x2014;P Z BSNBSJP EPCMFT CBÃ&#x2014;P HFOFSBM DPO CBÃ&#x2014;FSB DPDJOB N DPNFEPS Z CBMDÃ&#x2DC;O "MRVJMFS Ã¥ NFT *OGÃ&#x2DC;SNFTF "-26*-0 -0$"- &/ "7 16* ('3&% EF N Y N EF 1BUJP UPEP SFGPSNBEP 5&-

.0/5("5 QJT N IB CJUBDJPOT UFSSBTTB WJTUFT NBS 3FGPSNBU BNC FMFDUSP EPNÃ&#x2019;TUJDT Ã¥ 5PU JODMÃ&#x203A;T

5&- --03&%" 3FG QJTP IBC 3FGPSNBEP BTDFOTPS CBMDPO BNQMJP TBMPO NVZ MVNJOPTP BNVFCMBEP DPO FMFDUSPEPNFTUJDPT Ã¥ 5&- (03( 3FG QJTP IBCJ UBDJPOFT BTDFOTPS SFGPSNB EP DBMFGBDDJPO HBT OBUVSBM BBDD CBÃ&#x2014;P Z BTFP CBMDPO WJTUBT BM NBS BOVFCMBEP DPO FMFDUSPEPNFTUJDPT Ã¥ 5&-

4"/50 $3*450 3FG QJTP IBCJUBDJPOFT BTDFO TPS SFGPSNBEP N DBMF %61-&9 &/ "-26*-&3 "- GBDDJPO HBT OBUVSBM Z BBDD '0/40 9** +50 16&350 Ã¥ 5&- 0#3" /6&7" " FTUSFOBS IBC CBÃ&#x2014;PT DPNFEPS DPO #6'"-" 3FG QJTP DPDJOB BNFSJDBOB Z TBMJEB B IBCJUBDJPOFT DPOTFSWBEP UFSSB[B N (BSBKF #POJ BBDD BNVFCMBEP DPO FMFD UPT "DBCBEPT 'JODB TÃ&#x2DC;MP USPEPNFTUJDPT UPEP FYUFSJPS WFDJOPT Ã¥ 5&- CBMDPO Ã¥ 5&- %*3&$50 130.0503

727 %DGDORQD

&DPOPNJDT JOEE

FODVVLILFDWV

1" 3 5 * $ 6 - " 3 " - 2 6 * - " 1 - " ; " % & 1" 3 , */ ( & / 5033&/5 %& #"5--03*" 5JFOF BTDFOTPS .FEJEBT Y 13&$*0 å 5&- 1"53*

%$'$/21$ 1$9(6 ,1'8675,$/(6

1" 3 5 * $ 6 - " 3 " - 2 6 * - " 1 - " ; " % & 1" 3 , */ ( & / 5033&/5 %& #"5--03*" .FEJEBT Y N FO 1MBOUB 13&$*0 å 5&- 1"53* 1"35*$6-"3 "-26*-" 1-" ;" %& 1"3,*/( &/ 50 33&/5 %& #"5--03*" &O QSJNFSB QMBOUB .FEJEBT Y 13&$*0 å 5&- 1"53* 1"35*$6-"3 "-26*-" 1-" ;" %& 1"3,*/( $ --&'*" .FEJEBT Y N JEFBM DPDIF QFRVF×P 13&$*0 å "- .&4 5&- 1"53*

1*40 &/ "-26*-&3 &/ -" $"--& +0$4 '-03"-4 %& #"%"-0/" EF NUST IBC NÈT VO WFTUJEPS --&'*" #"+" 3FG QJTP CB×P DPDJOB SFGPSNBEB IBCJUBDJPOFT BNQMJP TBMPO QBSRVFU DBMFGBDDJØO BJSF SFGPSNBEP CBMDPO BTDFOTPS BDPOEJDJPOBEP WFOUBOBT EF UPEP FYUFSJPS BNVFCMBEP BMVNJOJP "TDFOTPS 13&$*0 DPO FMFDUSPEPNFTUJDPT "-26*-&3 å .&4 å 5&- 5&- 1"53* #"3/" #"$ %& 30%" 3FG QJTP N IBCJ UBDJPOFT BTDFOTPS CBMDPO BNVFCMBEP DPO FMFDUSPEP NFTUJDPT BM MBEP NFUSP å 5&-

7HO

1*40 &/ "-26*-&3 &/ -" $"--& (6*'3² PQDJPOBM PGJDJOBT Z UBNCJÏO WJWJFOEB NUST IBCJUBDJPOFT CB×P DPDJOB UFSSB[B EF NUST WFOUBOBT BMVNJOJP #VFO FTUBEP EF DPOTFSWB DJØO $0/46-5"3 13&$*0 5&- 1"53*

1&1 7&/563" 3FG QJTP IBCJUBDJPOFT SFGPSNB EP TVFMPT QBSLFU BTDFOTPS CBMDPO BMHVOPT NVFCMFT BM MBEP NFUSP å 5&-

1*40 &/ "-26*-&3 &/ $" --& $&37"/5&4 EF IBCJ UBDJPOFT DPNFEPS DPDJOB FRVJQBEB 3FGPSNBEP QFS GFDUP FTUBEP "NVFCMBEP 13&$*0 "-26*-&3 å 5&- 1"53*

"-26*-&3 1-";" %& 1"3 ,*/( .0504 FO DBMMF UP SSFOU EF CBUMMPSJB 1SFDJP å NPUPT 5&- 1"53*

&KNNWPU &KOCTVU &KOGETGU &KLQWU &KXGPFTGU VÈULH

&KUUCDVG &KWOGPIG 6ÈULH

.FT TFUFNCSF h

/Á.&304 13&.*"54

&DPOPNJDT JOEE

727 %DGDORQD

4& 0'3&$& $)*$" QBSB HVBZB QBSB DVJEBS QFSTP OBT NBZPSFT DBOHVSP $PO CVFOBT SFGFSFODJBT 5&-

4& 53"41"4" 1&-626&3ยถ" : $&/530 %& #&--&;" FO #BEBMPOB DFOUSP N UPDBEPSFT MBWBDBCF[BT MB CPSBUPSJP WFTUVBSJP DMJFOUFT UPDBEPS NBRVJMMBKF DBCJOBT FTUร UJDB TBMB VWB IPSJ[POUBM VMUSB Sร QJEP EVDIB BMNBDร O CBร P WFTUVBSJP QFSTPOBM BM RVJMFS JOUFSFTBOUF `5SBTQBTP PQPSUVOJEBE 5&-

4 & ยบ 0 3 " & 4 1" ยบ 0 - " 4 & 0'3&$& QBSB MJNQJF[B EF DBTBT MPDBMFT FUD 1PS IP SBT $PO SFGFSFODJBT 5&-

4&ยบ03" 3&410/4"#-& DPO CVFOBT SFGFSFODJBT CVT DB USBCBKP QPS IPSBT P NFEJB KPSOBEB MJNQJF[B DVJEBEP EF QFS TPOBT NBZPSFT P DBOHVSP *ODPSQPSBDJร O JO NFEJBUB 5&- 53"/41035*45" ".# '63 (0/&5" QSร QJB PQFM $PNCP T PGFSFJY QFS USFCBMMBS FO FNQSFTFT QFS GFS USBOTQPS UT BMT NBUJOT QFS IPSFT B #BSDFMPOB J SPEBMJFT 5&-

1*40 &/ "-26*-&3 &/ -" $"--& +04$ '-03"-4 &O UMP EF NUST UJFOF IBCJ UBDJPOFT HSBO TBMร O DPNF EPS DPDJOB MBWBCP 13&$*0 "-26*-&3 รฅ 5&- 1"53* 1*40 &/ "-26*-&3 $"--& --&'*ยฎ %& #"%"-0/" NUST IBCJUBDJPOFT DPNF EPS DPDJOB MBWBEFSP CBM Dร O SFGPSNBEP "TDFOTPS 13&$*0 "-26*-&3 รฅ 5&- 1"53*

1 * 4 0 & / " - 2 6 * - & 3 & / $".* 4"/5 +&30/* %& -" .6353" FO #BEBMPOB EF NUST IBCJUBDJPOFT CBร P DPDJOB MBWBEFSP BJSF BDPOEJDJPOBEP DBMFGBDDJร O NVZ MVNJOPTP #JFO DPO TFSWBEP "TDFOTPS 13&$*0 "-26*-&3 รฅ 5&- 1"53*

+OOQDKNKCTKU

4& 0'3&$& $6*%"3 NBZP SFT P MJNQJF[B SFGFSFODJBT MVOFT EPNJOHPT OPDIFT 5&-

6TGDCNN

4&ยบ03" 4& 0'3&$& QBSB USBCBKBS FO MJNQJF[B DBOHV SP DVJEBS QFSTPOBT NBZP SFT 1PS IPSBT P NBร BOBT 5&-

4& 0'3&$& $)*$" KPWFO QBSB MJNQJF[B DBOHVSP DVJEBEP QFSTPOBT NBZPSFT 5&- 4& 0'3&$& 4&ยบ03" QBSB MJNQJF[B QPS IPSBT 5&-

/165 '0%4'7#65

57&1-75

&DPOPNJDT JOEE

1*/503 4& 0'3&$& QBSB USBCBKBS FO FNQSFTBT Z QBS UJDVMBSFT $PO NVDIB FYQF SJFODJB 5&-

FKHร EKN

Hร EKN

53"41"40 1"/"%&3*" 1"4 5&-&3*" DFOUSP #BEBMPOB 'SFOUF DPMFHJP 5PUBMNFOUF FRVJQBEB 0DBTJร O QPS OP QPEFS BUFOEFS *OUFSFTBEPT MMBNBS 5&-

4& 0'3&$& 4&ยบ03" DPNP DBOHVSP QPS IPSBT P MJN QJF[B FO HFOFSBM DPO FYQF SJFODJB Z SFGFSFODJBT 5&-

+07&/ #0-*7*"/0 DPO FY QFSJFODJB CVTDB USBCBKP QBSB DVJEBS QFSTPOBT NBZPSFT P NJOVTWร MJEPT $PO QBQFMFT 5&-

6TCURCUUQU

727 %DGDORQD

4& 0'3&$& $)*$" FO MJN QJF[B DBOHVSP DVJEBEP QFS TPOBT NBZPSFT $PO FYQFSJFODJB Z SFGFSFODJBT 5&-

#64$0 53"#"+0 EF MJNQJF [B P DVJEBOEP QFSTPOBT NB ZPSFT QPS IPSBT P JOUFSOB EF MVOFT B WJFSOFT 5&-

&4 /&$&44*5" ."26*/*4 5" EF DPOGFDDJร EF DPSUJOFT J UBQJTTFSJB &T WBMPSBSร FYQF SJร ODJB 5&-

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

FODVVLILFDWV

-0$"- &/ "-26*-&3 &/ #"%"-0/" DBMMF 4BOUB #ร S CBSB EF NUST NUST EF OBWF UPUBMNFOUF EJร GBOB DPO BMUJMMP Z SFTUP PGJDJOBT &OUSBEB QBSB WFIร DVMPT BMUVSB IBTUB NUST 1VFSUB JOEFQFOEJFOUF FOUSBEB B PGJ DJOBT $POTUB EF VO MBWBCP Z VO QBUJP "QUP BMNBDร O 13&$*0 "-26*-&3 รฅ 5&- 1"53*

1*40 &/ "-26*-&3 &/ $" --& .*26&- 4&37&3 NUST BQSPYJNBEPT IB CJUBDJPOFT DPDJOB Z CBร P CJFO DPOTFSWBEPT 13&$*0 "-26*-&3 รฅ 5&- 1"53*

FODVVLILFDWV

4&ยบ03" 3&410/4"#-& 4& 0'3&$& QBSB MJNQJF[B QMBODIB DBOHVSP QPS IPSBT 5&- 4& 0'3&$& $)*$" QBSB DVJEBS QFSTPOBT NBZPSFT P MJNQJF[B FO HFOFSBM EVSBOUF FM EJB Z QPS MBT OPDIFT 5&-

$)*$" #0-*7*"/" #64$" USBCBKP QPS MBT UBSEFT $PO FYQFSJFODJB FO MJNQJF[B EF DBTBT Z FTDBMFSBT 5&-

4& 0'3&$& $)*$" KPWFO QBSB USBCBKBS FO MJNQJF[B DVJEBEP EF OJร PT P QFSTPOBT NBZPSFT 1PS IPSBT NBร B OBT GJOFT EF TFNBOB 5&-

'"-5" %&1&/%*&/5" 1"3" .&/"+& FO GFSSFUFSJB EF #BEBMPOB JOUFSFTBEBT FO WJBS DVSSร DVMVN DPO GPUP B '&33&5&3*" # $) $ '3"/ $&4$ -":3&5 #"%"-0/" 'BMUB EFQFOJFOUF QBSB GF SSFUFSJB FO #BEBMPOB JOUF SFTBEPT &OWJBS DVSSร DVMVN DPO GPUP B '&33&5&3*" # $) $ '3"/ $&4$ -":3&5 #"%"-0/"

4&ยบ03" 4& 0'3&$& QBSB BDPNQBร BS B QFSTPOBT NB ZPSFT EJB OPDIF QPS IPSBT 5&- $)*$" 4& 0'3&$& QBSB DVJEBS QFSTPOBT NBZPSFT EF JOUFSOB $PO SFGFSFODJBT 5&-

4&ยบ03" 4& 0'3&$& QBSB USBCBKBS NBร BOBT UBSEFT KPSOBEB DPNQMFUB $VJEBS QFSTPOBT NBZPSFT DBOHVSP $PO SFGFSFODJBT Z FYQFSJFO DJB 1BQFMFT FO SFHMB 5&-

4&ยบ03" 3&410/4"#-& CVTDB USBCBKP QPS IPSBT P KPSOBEB DPNQMFUB 5&-

4 & / & $ & 4 *5" 0 ' *$ *" - " EF ย EF QFMVRVFSJB [POB .POUJHBMร NFEJB KPSOBEB 1SFHVOUBS QPS (MPSJB 5&-

4& 0'3&$& 4&ยบ03 DPNP BMCBร JM DPOTFSKF MJNQJF[B P TJNJMBS %JQPOJCMJEBE JONF EJBUB 5&-

$)*$" 3&410/4"#-& TF PGSFDF QBSB DVJEBEP EF QFS TPOBT NBZPSFT Z USBCBKP QPS IPSBT 5&-

4&ยบ03" #0-*7*"/" EF Bร PT DPO QBQFMFT FO SFHMB TF PGSFDF QBSB USBCBKBS GJ OFT EF TFNBOB EF DBOHVSP MJNQJF[B QPS MBT NBร BOBT $VJEBEP QFSTPOBT NBZPSFT OPDIFT $PO SFGFSFODJBT 5&-

4&ยบ03" 4& 0'3&$& DPNP GJKB DVJEBS QFSTPOBT NBZP SFT UBSFBT EPNร TUJDBT 5&-

/&$&4*50 1-"/*45" PWFS MPLJTUB $PO FYQFSJFODJB 5&- -6$ยถ"

&DPOPNJDT JOEE

4&ยบ03" #64$" 53"#"+0 EF MJNQJF[B QPS IPSBT 5&-

727 %DGDORQD

"( 505" &%"5 /&$&44*5" GJYFT JOUFSJOFT QFS IPSFT QFS TPOFT EF DPNQBOZJB QFS OFOT J BWJT 5&-

"( 505" &%"5 /&$&44*5" JOGFSNFSFT QVFSJDVMUPSFT GJ TJPUFSBQFVUFT BVY EF DMร OJ DB B EPNJDJMJ J IPTQJUBM I FUD 5&-

4& 0'3&$& 4&ยบ03" QBSB USBCBKBS DPO QFSTPOBT NBZP SFT DPO FYQFSJFODJB $POP DJNJFOUP BVYJMJBS HFSJBUSร B Z UBSFBT EFM IPHBS 1PS IPSBT P JOUFSJOB 5&-

FODVVLILFDWV

$)*$" 4& 0'3&$& QBSB USB CBKBS FO MJNQJF[B QPS IPSBT $PO FYQFSJFODJB 5&-

$)0'&3 %& #"%"-0/" DPO QFSNJTPT $ & %JTQPOJCJMJ EBE IPSBSJB Z FYQFSJFODJB 5&- 4& 0'3&$& 40-%"%03 DPO FYQFSJFODJB QBSB DVBMRVJFS UJQP EF USBCBKP 5&-

.&/4"+&304 '63(0/&5" QBSB SFQBSUPT Z QFRVFร B QBRVFUFSร B FO #BSDFMPOB Z DJOUVSร O 1SFTFOUBSTF MVOFT Z NBSUFT UBSEFT EF B FO $ 10/*&/5& #+4 #"%"-0/" .&/4"+&304 .050 FMF WBEPT JOHSFTPT 1SFTFOUBSTF MVOFT Z NBSUFT UBSEFT EF B FO $ 10/*&/ 5& #+4 #"%"-0/" '"-5" %&1&/%&/5" 1&3 '03/ %& 1" OP FT OFDFT Tร SJB FYQFSJร ODJB GPSNBDJร B Dร SSFD EF M FNQSFTB 1PSUBS DVSSร DVMVN B $ $0/26&4 5" 4&37*$*0 5ยฒ$/*$0 &/ #" %"-0/" 13&$*4" 5ร DOJDP EF )BSEXBSF QBSB UBMMFS JOGPSNร UJDP 4F PGSFDF DPO USBUP IPSBT TFNBOB MFT BMUB FO 4 4 JODPSQPSB DJร O JONFEJBUB &OWJBS $7 B JOGP!MFLLFSOFU FT

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

4& 13&$*4" $)*$" %& "$" %&.*" QBSB QSร DUJDBT FO QFMVRVFSJB 3".#-" 4"/ +6"/ % --03&%"

4J KB USFCBMMFT J WPMT HVBOZBS VO TPCSF TPV CVT RVFN QFSTPOFT DPN Uร RVF WVMHVJO USFCBMMBS B IPSFT MMJVSFT EF DPNFSDJBMT EF QVCMJDJUBU QFS MB SFWJTUB &M 505 #BEBMPOB

3&26&3*. t #POB QSFTFODJB t (BOFT EF USFCBMMBS

4& /&$&4*5" 0'*$*"-" %& 1&-626&3*" FO #BEBMPOB 5&- o

0'&3*. t $PNJTTJร EF MB WFOEB EF QVCMJDJUBU t -MJTUBUT EF DMJFOUT J DBSUFSB

$)*$" #64$" 53"#"+0 QPS IPSBT NFEJB KPSOBEB GJKB P EF DBOHVSP $PO FYQFSJFODJB Z SFGFSFODJBT 5&-

1FS B Nร T JOGPSNBDJร

5FM P P FOWJBS DVSSร DVMVN BNC GPUP B

YFTDB!FMUPUEJHJUBM DPN

$)*$" #64$" 53"#"+0 EJTQPOJCJMJEBE Eร BT TF NBOB JOUFSJOB 5&-

727 %DGDORQD

&DPOPNJDT JOEE

FODVVLILFDWV

1"35*$6-"3 7&/%& 3" %*04 "/5*(6"4 B×P 5&-

4& 7&/%& .050 */'"/5*- EF B B×PT EF U Z DD TFNJBVUPNÈUJDB FO QFSGFDUP FTUBEP å ,BXBTBLJ "/(-µ4 $-"44&4 1"35* DD EF DPNQFUJDJØO DBSCPOP $6-"34 JOEJWJEVBMT QFUJUT FO CVFO FTUBEP å

HSVQT IPSBSJ GMFYJCMF DPO */'0 WFSTB CVTJOFTT .ÒUPEFT QFSTPOBMJU[BUT 5&- 4& 7&/%& $0$)& $$ SPKP DPO FRVJQP )*'* *EFBM HFOUF

TJO DBSOFU å */'0 --*$&/$*"5 %»/" 3&'03± 5&- &4$0-"3 EF NBUFNËUJRVFT GÓTJDB J RVÓNJDB &TP J CBUYJ MMFSBU #BEBMPOB -B 1MBOB 8CTKU 5&-

%NCUUGU

-*$&/$*"5 %»/" $-"44&4 E FTP CBUYJMMFSBU TFMFDUJ WJUBU NÛEVMT FUD NBUFT GÓTJDB RVÓNJDB $ *OEÞT USJB 5&-4 3".0/

$"%*3" %& 30%&4 &-µ$ 53*$" &/ 7&/%" 0QPS UVOJUBU QFSGFDUF FTUBU NFTPT E}VT #BUFSJB NPMU QPUFOU QSFV å 5&-

130'&403" 5*56-"%" %" $-"4&4 QBSUJDVMBSFT Z HSV QP QSJNBSJB TFDVOEBSJB CBDIJMMFSBUP NØEVMPT GSBO DÏT TFMFDUJWJEBE GPSNBDJØO IÈCJUPT EF FTUVEJP 5&-

0 $ "4 * » / 7 & / % 0 $ & / 53"-*5" %*(*5"- /&3*4 OVFWB TPMP NFTFT EF VTP å 5&-

$-"4&4 1"35*$6-"3&4 %& */(-²4 UPEPT MPT OJWFMFT Z UPEBT MBT FEBEFT BQSFOEJ[B KF SÈQJEP 5&-

"-26*-0 %04 )"#*5"$*0 /&4 EF NBUSJNPOJP Z MB PUSB JOEJWJEVBM QFSTPOB

$PO EFSFDIP B UPEP B QFSTP OB SFTQPOTBCMF 1SFDJP IB CJUBDJØO NBUSJNPOJP å )BCJUBDJØO JOEJWJEVBM å 5&-

7&/%0 4*--" %& 36&%"4 FO CVFO FTUBEP å 5&-

#OKUVCVU +04& %& "º04 CVTDB NVKFS DPO GJOFT TFSJPT EF B B×PT EF #BEBMPOB QSFGFSFOUFNFOUF #BSSJP 4UP $SJTUP P DFSDBOJBT 5&-

4& "-26*-" )"#*5"$*»/ FO #BEBMPOB B DIJDB DPO EF SFDIP B UPEP FM QJTP (BTUPT $-"44&4 %& (6*5"33" JODMVJEPT $FSDB .FUSP -

$-®44*$" 1016-"3 5PUT å NFT -MBNBS B QBSUJS FMT OJWFMMT #BEBMPOB +PBO EF MBT I "OB 5&-

.B 5&-

--*$&/$*"%" &/ 26¶.* 26&4 EØOB DMBTTFT QBSUJ DVMBST NBUFNËUJRVFT RVÓ NJDB GÓTJDB JEJPNFT &YQF SJÒODJB FO *OTUJUVUT 5&- 0$"4*»/ $0.&%03 8&/ (6² #POJUP Z NPEFSOP

DPNFEPS XFOHVÏ EF UBO TPMP B×PT EF BOUJHàF EBE FO QFSGFDUP FTUBEP &M /QVQT DPOKVOUP JODMVZF FM NVFCMF DPNFEPS VOB NFTB EF DSJT UBM EFTQMFHBCMF TJMMBT EF 1"35*$6-"3 7&/%0 %04 DVFSP B KVFHP VOB NFTJUB .0504 "/5*(6"4 NBS QFRVF×B BVYJMJBS Z VO TPGÈ DB .POUFTB NPEFMP #SJP 6O DPMPS XFOHVÏ DPO DPKJOFT TPMP BTJFOUP EF NVFMMFT DP UBNCJÏO B KVFHP 4F PGSFDF MPS OFHSB B×P NPUP MB QPTJCJMJEBE EF DPNQSBS .PTRVJUP B×P 4S +PTÏ DVBMRVJFSB EF TVT QJF[BT 5&- QPS TFQBSBEP QSFDJP B DPO WFOJS *OUFSFTBEPT MMBNBS 7&/%0 .050 (033*0/ QSFGFSFOUFNFOU EF B $-6" QPS å 5&- 1SFHVOUBS QPS .BSJCFM 5&-

&DPOPNJDT JOEE

727 %DGDORQD

FODVVLILFDWV

$5$ 0e6 48( 0$, 1(&(66,7(0 /$ 7(9$ $-8'$ /¶$VVRFLDFLy 6RFLDO $PLFV GHO *RUJ %DGDORQD GRQD VXSRUW D )XQGDFLy %DQF GHOV $OLPHQWV GH OD VHYD FDPSDQ\D ³*UDQ 5HFDSWH G¶$OLPHQWV D &DWDOXQ\D´ TXH HV FHOHEUDUj GHO DO G¶RFWXEUH GH D K DPE PRWLX GHO 'LD 0XQGLDO GH O¶$OLPHQWDFLy L HO 'LD ,QWHUQDFLRQDO SHU D O¶(UDGLFDFLy GH OD 3R EUHVD /¶HQWLWDW EDGDORQLQD VHUj XQ GHOV SXQWV GH UHFROOLGD GHOV DOLPHQWV RQ HOV FLXWDGDQV R FRPHUoRV TXH KR GHVLWJLQ SRGUDQ IHU OD GRQDFLy %jVLFDPHQW QHFHVVLWHP DUUzV SDVWD OOHJXPV IDULQD VXFUH pV D GLU DOLPHQWV VHFV GH OODUJD GXUDGD &DGD WULPHVWUH JDLUHEp EDGDORQLQV QHFHVVLWHQ GH OD WHYD DMXGD SHU PHQMDU 3HU SRF TXH SXJXLV IHV OD WHYD DSRUWDFLy

$VVRFLDFLy 6RFLDO $PLFV GHO *RUJ 0DU %DGDORQD &DUUHU 3RQHQW %DGDORQD

2VJFSFT DPMBCPSBS 7PMT DPMrMBCPSBS *OGÃ&#x2DC;SNBUF BRVÃ&#x201C; P FO *OGPSNBhU BRVÃ&#x201C; P B DPMrMBCPSB

XXX BGSJDBOPTNJSB DPN 727 %DGDORQD

&DPOPNJDT JOEE

WHFQRORJLD

VGEPQNQIKC

QRYHWDWV JDGJHWV WHOHIRQLD VRIWZDUH LQWHUQHW

-MJCSFT FMFDUSÛOJDT AMPX DPTU 5FDOPMPHJB t &MT GBCSJDBOUT EF UFDOPMPHJB TFHVFJYFO BQPT UBOU QFM MMJCSF FMFDUSÛOJD VO GPSNBU RVF FOTPQFHB B DBTB OPTUSB BNC EPT HSBOT FTDVMMT MB NBODB EF DPOUJOHVUT FO GPSNBU EJHJUBM B DBVTB EF MB EFTDPOm BOÎB EF MFT FEJUPSJBMT J FM QSFV EFMT EJTQPTJUJVT FMFD USÛOJDT RVF FT NPV FOUSF FMT J FMT FVSPT FO GVODJØ EF MFT NPEBMJUBUT -B DBNQB OBEB M IB EPOBU MB DPNQBOZJB "TVT RVF FTUË USFCBMMBOU FO VO MFDUPS EJHJUBM EF CBJY DPTU RVF T BOPNFOBSË &FF #PPL &MT EJQPTJUJVT QPESJFO FTUBO BMT BQBSBEPST EF MFT UFOEFT BM NBSÎ EFM - PCKFDUJV EF MB DPNQBOZJB ÏT BKVTUBS NPMU FM QSFV J SFQFUJS M ÒYJU BDPOTF HVJU BNC FMT TFV PSEJBOEPS NJOJQPSUËUJM &FF 1$ &M MMJCSF BQMJDBSË BMHVOT DPODFQUFT OPVT UJOESË EPCMF QBOUBMMB RVF SFDPSEBSË MFT DPCFSUFT E VO MMJCSF J DVJEBSË NPMU MB SFTPMVDJØ J MB CBUFSJB )J IBVSË EJWFSTPT NPEFMT VO EF NÏT CËTJD B VO QSFV NPMU SFEVÕU J VO BMUSF EF HBNB BMUB RVF JO DPSQPSBSË DPOOFDUJWJUBU ( QFS EFTDBSSFHBS TF FMT DPOUJOHVUT E *OUFSOFU DËNFSB XFCDBN J NJDSÛGPO QFS QPEFS DPNVOJDBS TF BNC UFMFGPOJB *1

,PSUHVLyQ GLJLWDO %RGDV FRPXQLRQHV EDXWL]RV *UDQ IRUPDWR (VWDPSDFLyQ WH[WLO 5HJDORV SHUVRQDOL]DGRV 6FUDSERRNLQJ

'RQ 3HOD\R

7HO

QBH JOEE

% BMUSB CBOEB B &TQBOZB KB FYJTUFJYFO BMUFSOBUJWFT EF CBJY DPTU BMT NPEFMT EF MFDUPST USB EJDJPOBMT CËTJDBNFOU EF 4POZ - FNQSFTB FTQBOZPMB (SBNNB UB EJTUSJCVFJY FM MFDUPS 1BQZSF QFS FVSPT -B QBOUBMMB UÏ QPM[BEFT J DPNQUB BNC .# EF NFNÛSJB JOUFSOB BN QMJBCMFT " NÏT BNC MB DPNQSB T BERVJSFJYFO UBNCÏ MMJCSFT QSFDBSSFHBUT J VOB TVCTDSJQDJØ B MB UFOEB (SBNNBUB

6OJUT J RVF ÏT NÏT MMFVHFS J NÏT CBSBU RVF MB NBKPSJB EFMT MFDUPST EFM NFSDBU 1FTB OPNÏT HSBNT J UÏ VOB QBOUBMMB EF QPM[BEFT J (# EF NFNÛSJB JOUFSOB $PTUBSË FVSPT BMT RVF T IBVSË EF SFTUBS VO QFS DFOU EF EFTDPNQUF TJ FT DPNQSB B USBWÏT EF MB QËHJOB XFC EF M FEJUPSJBM

&EJUPSJBMT DBQEBWBOUFSFT "MHVOFT FEJUPSJBMT DPOm FO FO FM OPV GPSNBU EJHJUBM ²T FM DBT EF M FEJUPSJBM -VBSOB EFEJDBEB B MB WFOEB EF MMJCSFT FMFDUSÛ OJDT RVF BDBCB E BOVODJBS MB DPNFSDJBMJU[BDJØ EFM MFDUPS EJHJUBM $00- &3 VO EJTQPTJUJV RVF KB T FTUË WFOFO BMT &TUBUT

(SVQ /0 "- 1&"5(& " -" # .FNCSFT .FNCSFT *OUFSFTTPT (SVQ DSFBU QFS EFNBOBS RVF MB GVUVSB DBSSFUFSB # OP UJOHVJ QFBUHF

7e&1,&2 ,1)250É7,&2 /$6 +25$6 6 , $ '

,167,787 &$7$/­ '( &20(5d

(SVQT #BEBMPOJOT BM

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

&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

7HO

7HO

8FCT B NJEB

"$"%µ.*&4

FC 8 *OU FS OF U

$VSTPT EF JOGPSNËUJDB $POUBCJMJEBE GBDUVSBDJØO Z OØNJOBT QPS PSEFOBEPS $VSTPT FTQFDJBMFT QBSB FNQSFTBT 0GJNÈUJDB 1SPHSBNBDJØO Z .VMUJNFEJB

(FTUJØ EF $PSSFVT EPNJOJT FMFDUSÛOJDT XXX DMJDEJTTFOZ DPN %FNBOJhOT VOB EFNPTUSBDJØ HSBUVÕUB TFOTF DBQ DPNQSPNÓT JOGP!DMJDEJTTFOZ DPN 5FM

727 %DGDORQD

SFKJMMB QMBOB JOEE

&41&$*"-*45"4 &/ *.1-"/50-0(¶" 0350%0/$*" : 0%0/50-0(¶" (&/&3"-

%S 3PCFSUP ,PFOJH O DPMFHJBEP

%SB 'ÈUJNB %PNJOJDJ O DPMFHJBEP

.ÈTUFS FO *NQMBOUPMPHÓB Z 3FIBCJMJUBDJØO PSBM QPS &VSPQFBO 4DIPPM PG 0SBM 3FIBCJMJUBUJPO *NQMBOUPMPHZ BOE #JPNBUFSJBMT /FX :PSL 6OJWFSTJUZ $PMMFHF PG %FOUJTUSZ 5ÓUVMP OJWFM &VSPQFP FO *NQMBOUPMPHÓB

.ÈTUFS FO 0EPOUPMPHÓB DPOTFSWBEPSB Z SFTUBVSBEPSB QPS MB 6OJWFSTJEBE EF #BSDFMPOB .ÈTUFS FO *NQMBOUPMPHÓB #UJ .ÈTUFS FO *NQMBOUPMPHÓB .JDSPEFOU t .JFNCSPT EF MB "TPDJBDJØO &TQB×PMB EF *NQMBOUFT 4&*

t .JFNCSPT EF MB "TPDJBDJØO &TQB×PMB &OEPEPODJB

*.1-"/5&4

103 å 1SPUFTJT "QBSUF

$0/46-5" : 3"%*0(3"'¶"

i(3"56*5"w

1BHVF TV USBUBNJFOUP IBTUB FO NFTFT TJO JOUFSFTFT $ "MGPOTP 9*** #BEBMPOB

&TR 1[B .BOVFM $BSSBTDP J 'PSNJHVFSB 'SFOUF BOUJHVP 1BCFMMØO +PWFOUVU

5&-

6OJ%FOUBM JOEE