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-WR -DFLQWR YHUGDJXHU 3LVR GH KDE $OWR $VFHQVRU ([W D OD FDOOH 3DUD HQWUDU D YLYLU ³,QFUHLEOH RSRUWXQLGDG SRU SUHFLR´
OLQHD GH PDU ³)DQ WDVWLFDV YLVWDV´ 3LVR +DE GREOHV $OWR $PSOLD WHUUD]D 3HUIHFWR HVWDGR =RQD FXP FRQ SLVF 'RV SOD]DV SN LQFO \ WUDVWHUR
3UHFLR D FRQVXOWDU
3UHFLR ½
3UHFLR ½
727 %DGDORQD
%$'$/21$ &(1752 & %$/'20(52 62/
2%5$ 18(9$ & *8,)5e
%'1 &(1752 & -2&6 )/25$/6
´//(*Ð (/ 020(172 '( &2035$5µ
-72 6$/(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
ÒOWLPRV SLVRV HQ YHQWD GH KDE \ KDE FRQ 3DU NLQJ \ WUDVWHUR RSFLRQDOHV $LUH $FRQGLFLRQDGR \ &DOHIDFFLyQ $FDEDGRV GH FDOLGDG 0X\ VROHDGRV ([FHOHQWH XELFDFLyQ MXQWR IXWXUR FHQWUR FRPHUFLDO 0X\ ELHQ FRPXQLFDGR EXV PHWUR \ UHQIH 35(&,26 '(6'( (8526 /OiPHQRV \ OH LQIRUPDUHPRV
$SURYHFKH HVWD H[FHOHQWH RSRUWXQLGDG 3LVRV WRWDO PHQWH DPXHEODGRV \ HTXLSDGRV )LQDQFLDFLRQ GHO JDUDQWL]DGD HQ FRQGLRQHV SUHIHUHQWHV &XRWD PHQVXDO FRPR XQ DOTXLOHU 3LVRV GH \ KDELWDFLR QHV *UDQGHV WHUUD]DV $FDEDGRV GH FDOLGDG //$0(126 < /( ,1)250$5(026 7(/
2%5$ 18(9$ &$1(7 '( 0$5 &(175( &$1(7 '( 0$5 &(1752 )DQWiVWLFRV SLVRV GH QXHYD FRQVWUXFFLyQ 3LVRV GH \ GRUPLWRULRV ÈWLFRV GXSOH[ FRQ WHUUD]D $FDEDGRV GH JUDQ FDOLGDG 7RGRV FRQ SOD]D GH SDUNLQJ \ WUDVWHUR LQFOXLGR HQ SUHFLR 3UHFLRV GHVGH 3LVR KDE ½ 3LVR KDE ½ ÉWLFR G~SOH[ \ WHUUD]D ½ /ODPH \ OH LQIRUPDUHPRV 2%5$ 18(9$ 5 6$17 -25', 2%5$ 18(9$ -72 0*,& %'1
-8172 5(1)( 021*$7 3LVRV GH KDELWDFLRQHV H[WHULRUHV VRODULXP 3ODQWD G~SOH[ KDELWDFLRQHV \ EDxRV DVHR \ JUDQ WHUUD]D $FDEDGRV GH H[FH OHQWH FDOLGDG 9LVWDV PX\ DJUDGDEOHV ([FHOHQWH ]RQD MXQWR DO PDU 3DUNLQJ \ WUDVWHUR RSFLRQDOHV (175(*$ ,10(',$7$ 35(&,26 KDE VRODULXP ½ '~SOH[ KDE \ JUDQ WHUUD]D ½
3LVRV KDE FRQ VRODULXP 3LVRV KDE FRQ VRODULXP 3ODQWDV G~SOH[ \ KDE FRQ WHUUD]D \ HQWUDGD LQGHS $FDEDGRV GH FDOLGDG 0X\ EXHQDV YLVWDV (175(*$ ,10(',$7$ 35(&,26 KDE \ WHUUD]D ½ KDE VRODULXP ½ 3ODQWD EDMD LQGHSHQGLHQWH JUDQ WHUUD]D ½
6L HV XVWHG 35202725 OOiPHQRV \ KDEODPRV
2%5$ 18(9$ & 0$5,1$
%$'$/21$ &(1752 (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 ILQDQ FLDFLyQ 3UHFLR GHVGH VROR (XURV /ODPH \ OH LQIRUPDUHPRV
$YHQLGD %XIDOi 3ODQWD %DGDORQD
ZZZ P LQWHJUDO FRP
727 %DGDORQD
. *OUFHSBM QBH JOEE
DFWXDOLWDW
SHUVRQHV
$BSMFT 5PSOFSP
i#BSUPNFV .V×P[ WJWJB DPN VO ZVQQJF FHÛMBUSBw
-MVÓT )FSOÈOEF[ FYBMDBMEF EF 4BOUB $PMPNB EF (SBNFOFU 1PDB HFOU IP TBCSË QFSÛ FM SFDUPS EF MB QBSSÛRVJB EF 4BOUB $MBSB EF #BEBMPOB -MVÓT )FSOÈOEF[ WB TFS FM QSJNFS BMDBMEF EFNÛDSBUB EF 4BOUB $PMPNB EF (SBNF OFU %FT EF B )FSOÈOEF[ TPUB MFT TJHMFT EFM 146$ WB HPWFSOBS VOB DJVUBU IFSFWB EFMT FYDFTTPT VSCBOÓTUJDT EFM GSBORVJTNF "SB UPUBMNFOU SFUJSBU EF MB QPMÓUJDB FYQMJDB B MB SFWJTUB A&M 5PU DPN WFV MB USBNB EF DPSSVQDJØ RVF IB BGFDUBU MB TFWB DJVUBU -J TPSQSÒO UPU FM RVF FTUË QBTTBOU " MB NFWB FEBU KB OP FN TPS QSÒT SFT &N QSFPDVQB DPN IBO FTUBU FOHBOZBUT FMT NÏT QPCSFT EF MB DJVUBU QFS FOSJRVJS NÏT FMT RVF KB FSFO SJDT "JYÛ GB RVF MB HFOU QFOTJ RVF UPUT FMT QPMÓUJDT TØO JHVBMT J BJYÛ OP ÏT DFSU 2VBO WPTUÒ FSB BMDBMEF #BSUPNFV .V×P[ WB FOUSBS DPN B SFHJEPS M BOZ 2VÒ FOT QPU EJS E FMM 1PDB GFJOB GFJB 2VBTJ TFNQSF BSSJCBWB UBSE BMT QMFOT NVOJ DJQBMT J FM QPSUBWFV TPDJBMJTUB
1FSTPOFT 1BH JOEE
OPNCSF E IBCJUBOUT 4BOUB $P MPNB ÏT VOB DJVUBU BNC QPDT RVJMÛNFUSFT RVBESBUT J BNC UBOUB EFOTJm DBDJØ IJ IBVSË VO EJB RVF GBMUBSBO FTDPMFT FRVJ QBNFOUT FUD
M IBWJB E FYDVTBS &MM WFOJB RVBO WPMJB J BJYÓ EFNPTUSBWB RVF OP EFQFOJB EFMT JOHSFTTPT EF M "KVOUBNFOU QFS WJVSF " #BS UPNFV .V×P[ MJ BHSBEBWFO MFT DPTFT HSBOT TVNQUVPTFT &MM ÏT VO IPNF TVNQUVØT &MM FT UBMMB FM DBCFMM B MB QFSSVRVFSJB -MPOHVFSBT FT WFTUFJY EF NBS DB HBTUB FM QFSGVN NÏT DBS ÏT NFNCSF E VO DMVC EF HPMG MJ BHSBEFO FMT NJMMPST SFTUBVSBOUT UÏ MB DBTB B VO EFMT DBSSFST PO IJ WJV MB HFOU NÏT AZVQQJF EF #BSDFMPOB BM DBSSFS #FFUIP WFO FUD &M TPV OP MJ QSPDFEJB EF M "KVOUBNFOU EF 4BOUB $P MPNB TJOØ EFM TFV DËSSFD EF WJDFQSFTJEFOU EF MB %JQVUBDJØ EF #BSDFMPOB RVF FSB NÏT BMU "NC BRVFTU TPV WJWJB DPN VO ZVQQJF FHÛMBUSB % PO TVSUFO FMT EJOFST %PODT IBO EF TPSUJS E VOB NBOFSB P VOB BMUSB
(SBNFQBSL VOB EF MFT FNQSFTFT JOWFTUJHBEFT MB WB GVOEBS WPTUÒ PJ 4Ó ²T VOB FNQSFTB QÞCMJDB RVF ÏT JOUFSNFEJËSJB FOUSF M BENJOJTUSBDJØ J FMT FNQSFTBSJT QSJWBUT -B TFWB m OBMJUBU ÏT FT UBMWJBS EJOFST B M BENJOJTUSBDJØ J BHJMJU[BS DFSUT USËNJUT &T EFEJ DBWB B DPOTUSVJS BQBSDBNFOUT TPUFSSBUT J BSB WFJH RVF UBNCÏ M IBO EFEJDBU B DPOTUSVJS QJTPT EF QSPNPDJØ (BS[ØO EJV RVF FM SFHJEPS E VSCBOJTNF .BOVFM %PCBSDP WB VTBS (SBNF QBSL QFS CFOFm DJBS BMUSFT FNQSFTFT ²T IBCJUVBM +P OP TÏ TJ ÏT IBCJUVBM P OP &M RVF QVD EJS ÏT RVF FO FM NFV UFNQT UBNCÏ IJ IBWJB FTQF DVMBDJØ RVF FSB VOB IFSÒODJB EFM QBTTBU "CBOT RVF KP GPT BMDBMEF RVBO IP FSB FM QBSF EF #BSUPNFV .V×P[ FT WB QFSNFUSF RVF UFSSFOZT GPSFTUBMT FT SFRVBMJm RVFTTJO DPN B [POB VSCBOJU[BCMF QFS CFOFm DJBS VOB FNQSFTB QSJWBEB
.PMUT KB TPTQJUBWFO RVF FM DSFJYFNFOU JNNPCJMJBSJ EF 4BOUB $PMPNB BNBHBWB BMHVOB DPTB BM EBSSFSF +P TPTQJUBWB RVF BJYÛ OP FOT QPSUBSJB SFT EF CP J RVF UBSE P E IPSB MB HFOU TPSUJSJB BM DBSSFS QFS QSPUFTUBS /P QFS MB DPSSVQ DJØ TJOØ QFS UBOUB FEJm DBDJØ 4 IBO USFODBU UPUFT MFT QSFDBV DJPOT RVF IBWÓFN FTUBCMFSU QFSRVÒ MB DJVUBU OP DSFJYÏT FO
727 %DGDORQD
&(175(
È7,&2 P 7(55$=$ P KDE GREOH FRFLQD \ EDxR VDOyQ FRQ VDOLGD D W]D SUHFLVD UHIRUPDV =21$ $/7$ ¼ 376
3 /$ 6$/8'
3LVR FRQ KDE GREOHV EDxR FRQ GXFKD EDOFyQ D OD FDOOH SRFRV YHFLQRV DOWXUD EXHQD GLVWULEXFLyQ 2&$6,Ï1 ¼ 376
672 &5,672
67$ &2/20$
//(),¬
//(),¬
/RFDO P GLYLGLGR HQ VyWDQR P SO EDMD P DOWLOOR P IDFKDGD D OD FDOOH DSWR FXDOTXLHU QHJRFLR -8172 0$57Ë 38-2/ $/4 ¼ ,9$
%8)$/¬ 3,62 FRQ KDE GREOHV 5()25 0$'2 VDOyQ P FDOHI DLUH DFRQG ¿QFD FRQ DVFHQVRU -8172 %,%/,27(&$ ¼ 376
3LVR -8172 02/Ë '( /$ 7255( FRQ KDE ]RQD PX\ WUDQTXLOD 5()250$'2 EDOFyQ EXHQD GLVWULEXFLyQ ¼ 376
/$ 6$/8'
6$17 $'5,¬
3LVR HQ *32 9,5*(1 /$ 6$/8' GH KDE 72'2 (;7( 5,25 DOWR \ FRQ DVFHQVRU VDOyQ P FRQ EDOFyQ SUHFLVD UHIRUPDV ¼ 376
//(),¬ 3LVR /,672 3$5$ 9,9,5 FRQ KDE 5()250$'2 VDOyQ P HQ DPELHQWHV FRQ EDOFyQ SXHUWDV KD\D ,03(&$%/( ¼ 376
*UDQ SLVR -8172 3/ 75$)$/*$5 P KDE EDxR \ DVHR VDOyQ P FRQ EDOFyQ D OD FDOOH GLVSRQLELOLGDG LQPHGLDWD ¼ 376
/$ 025(5$
&(175(
3LVR 6(0, 18(92 FRQ KDE WRGR H[WHULRU ¿QFD FRQ DVFHQVRU SDUNHW \ JUHV FDOHIDF DLUH DFRQG -8172 &(1752 ¼ 376
3LVR 72'2 (;7(5,25 MXQWR LJOHVLD KDE 5()250$'2 VDOyQ HQ DPELHQWHV ¿QFD SRFRV YHFLQRV ¼ 376
2&$6,Ï1
3LVR HQ 6$17 &(%5,$ '( 9$//$/7$ 72'2 (;7(5,25 P KDE VXLWWH EDxRV FRF RI¿FH 7(55$=$ P FDOHIDF DVF =21$ &20 & 3,6&,1$ 3. ,1&/ ¼ 376
$/)216 ;,,, 3LVR -8172 /$ 3/$1$ FRQ KDE FRFLQD \ EDxR UHIRUPDGRV VDOyQ P FRQ EDOFyQ ¿QFD FRQ DVFHQVRU %8(1$ =21$ ¼ 376
%8)$/¬
&$1<$'Ï
3LVR HQ F ,1'(3(1'(1&,$ GH KDE FRQ EDOFyQ 5()250$'2 FDOHIDF DLUH DFRQG ¿QFD FRQ DVFHQVRU ,03(&$%/( ¼ 376
7,$1$
QBHJOB JOEE
*UDQ SLVR FRQ KDE VXLWWH DPSOLD FRFLQD RI¿FH VDOyQ P EDOFRQHV FDOHIDF ¿QFD FRQ DVFHQVRU 32&26 $f26 SDUNLQJ RSF ¼ 376
&$6$*(0(6
-8172 0(5&$'21$
3LVR 72'2 (;7(5,25 GH P KDE EDxR \ FRFLQD UHIRUPDGRV VXHOR JUHV FDOHIDF D DFRQG LQVW QXHYDV WUDVWHUR WHUUD]D FRPXQLWDULD ¼ 376
3LVR /,672 3$5$ 9,9,5 P K GREOHV EDxR \ FRFLQD UHI VDOyQ P F VDOLGD D EDOFyQ SDUTXHW \ JUHV FDOHIDF D DFRQG DVFHQVRU ¼ 376
)5217 0$5Ë7,0
&(175( 3LVR 6(0, 18(92 P KDE FRFLQD DELHUWD DO VDOyQ EDOFyQ SDUNHW \ JUHV DLUH \ FDOHIDF DVF 0(-25 48( 18(92 ¼ 376
&(175(
3LVR P 3$7,2 P KDE 72'2 (;7(5,25 FDOHIDF SRFRV YHFLQRV 6(0, 18(92 PiUPRO \ JUHV SDUNLQJ LQFO ¼ 376
&(175( 3LVR -8172 & '(/ 0$5 K GREOHV P 683(5 5()250$'2 DLUH DFRQ \ FDOHI ¿QFD SRFRV YHFLQRV WHUUD]D FRPXQLW =21$ ,10(-25$%/( ¼ 376
3LVR FRQ $6&(1625 GH KDE GREOHV 5()250$'2 EDOFyQ P FDOHI DLUH DFRQG /,672 3$5$ 9,9,5 ¼ 376
%8)$/¬
727 %DGDORQD
3LVR FRQ $6&(1625 HQ F 5$021 //8// KDE H[WHULRUHV DPXHEODGR \ 5()250$'2 ¼ 376
%8)$/¬
3LVR P 6(0, 18(92 FRQ ]RQD FRPXQLWDULD KDE VXLWWH DPSOLR EDOFyQ FDOHIDF DLUH DFRQG -8172 3/$<$ ¼ 376
&DVD 3/$17$ %$-$ 3$7,2 P 7(55$=$6 KDE EDxR \ DVHR VDOyQ P FDOHIDF D D WUDVWHUR SRVLEOH HGL¿FDU SODQWDV PiV 08&+$6 326,%,/,'$'(6 ¼ 376
320$5 3LVR 72'2 (;7(5,25 FRQ KDE GREOHV 5()250$'2 VDOyQ P FDOHIDF DLUH DFRQG SDUNHW \ JUHV SXHUWDV UREOH ,03(&$%/( ¼ 376
-72 3(3 9(1785$
0217,*$/¬ '83/(; P WHUUD]D P ,'($/ 3$5$ )$0,/,$6 KDE DLUH IUtR FDORU SXHUWDV UREOH -8172 $3(1,126 ¼ 376
3LVR /,672 3$5$ 9,9,5 GH P KDE EDxR \ FRFLQD UHIRUPDGRV SUHFLRVR EDOFyQ DLUH IUtR FDORU DVFHQVRU -XQWR +RVSLWDO (VStULWX 6DQWR ¼ 376
3LVR 6(0, 18(92 MXQWR &DQ 62/(, GH KDE EDOFyQ JUDQGH FDOHIDF DLUH DFRQG WRGR H[WHULRU DPXHEODGR 3$5.,1* 23& ¼ 376
&DVD 6(0, 18(9$ -8172 & 0$5 SDWLR P \ WHUUD]DV VDOyQ FRQ OODU GH IRF HVWXGLR P EDUEDFRD ¼ 376
DFWXDOLWDW
OD VHWPDQD HQ LPDWJHV
&M 'FTUJWBM 'JMNFUT DPNFOÎB BNC ÒYJU EF QÞCMJD &M QSJNFS DBQ EF TFUNBOB EF 'JMNFUT IB DPNQUBU BNC MB QBSUJDJQBDJØ EF NÏT EF QFSTPOFT RVF IBO BTTJTUJU B MFT EJWFSTFT QSPKFDDJPOT HSBUVÕUFT BM 5FBUSF ;PSSJMMB J BM $ÓSDPM $BUÛMJD -B (BMB *OBVHVSBM EF EJWFOESFT QBTT BU MB TFTTJØ .BOJGFTU MB TFTTJØ (PMGB EF EJTTBCUF MB TFTTJØ *OGBOUJM J EF $JOFNB J (BTUSPOPNJB (SÒDJB WBO TFS BMHVOFT EF MFT BDUJWJUBUT NÏT EFTUBDBEFT EFMT QSJNFST EJFT EFM GFTUJWBM &M 'FTUJWBM 'JMNFUT DMPVSË BRVFTU EJTTBCUF B MFT I BM 5FBUSF ;PSSJMMB BNC M FOUSFHB EF QSFNJT
*OBVHVSBEB MB SFNPEFMBDJØ EF MB 1MBÎB EFMT .ÞTJDT -B 1MBÎB EFMT .ÞTJDT TJUVBEB BM CBSSJ EF MB 1BV T IB SFPCFSU EFTQSÒT EF NFTPT E PCSFT EF SFNPEFMBDJØ E BRVFTU FTQBJ 1FS DFMFCSBS BRVFTUB SFPCFSUVSB FM QBTTBU EJWFOESFT WB UFOJS MMPD VOB GFTUB QPQVMBS PO IJ WBO QBSUJDJQBS HSBO QBSU EF MFT FOUJUBUT EFM CBSSJ 1SFDJTBNFOU BRVFTU BOZ M "TTPDJBDJØ EF 7FÕOT EF MB 1BV DFMFCSB FMT TFVT QSJNFST BOZT E IJTUÛSJB 'PUP 1FSF +JNÏOF[
-B QMBHB EF M FTDBSBCBU NPSSVU KB BGFDUB
EJWFSTFT QBMNFSFT EF #BEBMPOB - ®SFB EF .FEJ "NCJFOU J .PCJMJUBU EF M "KVOUBNFOU EF #BEBMPOB IB EFUFDUBU OPVT DBTPT EF QBMNFSFT JOGFDUBEFT BNC FM NPSSVU TPCSFUPU B MFT [POFT NÏT QSPQFSFT B MB NVOUBOZB DPODSFUBNFOU BM .BT 3BN J B $BOZFU &O UPUB MB DJVUBU T IBWJFO EFUFDUBU mOT BSB BUBDT TP CSF DJOD QBMNFSFT VCJDBEFT UPUFT FMMFT FO mORVFT QSJWBEFT J EBSSFSBNFOU T IBO BGFHJU EFV DBTPT NÏT VCJDBUT BMT CBSSJT EFM .BT 3BN J EF $BOZFU -MVOB
+PSHF +BWJFS 7È[RVF[ SFQ M 0OEBT EVSBOU MB (BMB DFMFCSBEB BM -JDFV i&TUJD NPMU DPOUFOU RVF FM NFV QSJNFS QSFNJ TJHVJ B #BS DFMPOB QFSRVÒ TØD EF #BEBMPOBw "NC BRVFTUB GSBTF FM CBEBMPOÓ +PSHF +BWJFS 7È[RVF[ WB DBOUBS J QBSMBS FO DBUBMË BM NPNFOU EF SFDPMMJS M 0OEBT BM NJMMPS QSFTFOUBEPS EF M BOZ % BMUSB CBOEB FM 'BDFCPPL RVF EFNBOB RVF +PSHF +BWJFS TJHVJ FM QSPQFS QSFHPOFS EF MFT 'FTUFT EF .BJH KB BQMFHB B NÏT EF QFSTPOFT
&M DBSSFS EF #BMEPNFS 4PMË FT SFPCSF BM
USËOTJU EFTQSÒT EFM TFV BTGBMUBU &MT WFIJDMFT EFMT SFTJEFOUT BVUPCVTPT J EF TFSWFJT UPSOFO B DJSDVMBS EFT E BRVFTU EJVNFOHF QFS #BMEPNFS 4PMË EFTQSÏT RVF BRVFTU DBSSFS GPT UBMMBU BM USËOTJU EVSBOU EJFT QFS UBM EF QPSUBS B UFSNF MFT UBTRVFT EF QBWJNFOUBDJØ J TFOZBMJU[BDJØ $BM EFTUBDBS RVF FM UJQVT E BTGBMUBU RVF T IB DPMrMPDBU SFEVJSË FM OJWFMM EF TPSPMM QSPDFEFOU EF MB DBMÎBEB
-B4FUNBOB&O*NBUHFT 1BH JOEE
727 %DGDORQD
JXLD VHUYHLV
-"4 $04"4 #*&/ )&$)"4
$0-- * 16+0- #"%"-0/"
6'NÇ(105 $#&#.10# r "+6/5".&/5 $FOUSBMFUB r (6®3%*" 63#"/" 6SHÒODJFT .04404 % &426"%3" 6SHÒODJFT #0.#&34 (&/&3"-*5"5 6SHÒODJFT .04404 % &426"%3" $PNJTTBSJB (6®3%*" 63#"/" $PNJTTBSJB 10-*$*" /"$*0/" $PNJTTBSJB )041*5"- .6/*$*1"- )041*5"- $"/ 365* 5"9*4 #²56-0 4&37&* % "5&/$*» $*65"%"/" "5&/$*» 7*0-µ/$*" %0.µ45*$" '6/&3®3*" #%/
0'&35"4 %& 1*404 &/ "-26*-&3 4"/50 $3*450 1JTP FO m ODB DPO BTDFOTPS EF IBCJUBDJPOFT DPNFEPS FYUFSJPS B DBMMF NVZ MVNJOPTP #JFO DPNVOJDBEP "-26*-&3 å .&4 (BTUPT EF DPNVOJEBE JODMVJEPT 3&' 4$ +50 10-*%&1035*70 %& $0-- * 16+0- 1JTP EF IBCJUBDJPOFT DPO DPDJOB Z CB×PT SFDJÏO SFGPSNBEPT B FTUSFOBS EF BMUVSB SFBM "-26*-&3 å .&4 (BTUPT EF DPNVOJEBE JODMVJEPT 3&' 4$ $&3$" 1*4$*/" 4*453&--4 "NQMJP QJTP EF N DPO IBCJUBDJPOFT BNQMJBT $PDJOB Z CB×P NVZ CJFO DPOTFSWBEPT m ODB DPO BTDFOTPS .VZ CJFO DPNVOJDBEP "-26*-&3 å .&4 (BTUPT EF DPNVOJEBE JODMVJEPT 3&' 45 $ $0-- * 16+0- &O MB NJTNB DBMMF "NQMJP QJTP EF IBCJUBDJPOFT NVZ MVNJOPTP Z FO DBMMF QSJODJQBM m ODB DPO BTDFOTPS 4JO NVFCMFT "-26*-&3 å .&4 (BTUPT EF DPNVOJEBE JODMVJEPT 3&' 4$ $ "/(&- (6*.&3" 450 $3*450 1JTP NVZ BDPHFEPS EF IBCJUBDJPOFT FO m ODB DPO BTDFOTPS #BMDØO FYUFSJPS B DBMMF BNQMJBT IBCJUBDJPOFT 4FNJ BNVFCMBEP "-26*-&3 å .&4 (BTUPT EF DPNVOJEBE JODMVJEPT 3&' 4$ i5".#*&/ %*410/*#-& &/ 7&/5"w 13&$*0 å 4"/50 $3*450 1JTP EF IBCJUBDJPOFT BNVFCMBEP Z FRVJQBEP EF BMUVSB SFBM $PDJOB Z CB×P NVZ CJFO DPOTFSWBEPT .VZ QSØYJNP B MB 3CMB 4BO +VBO "-26*-&3 å .&4 (BTUPT EF DPNVOJEBE JODMVJEPT 3&' 4$
/106)#6
--&'*" +6/50 " %0$503 #"440-4 1JTP BMUP DPO BTDFOTPS IBCJUBDJPOFT BNVFCMBEP $PNFEPS DPO TBMJEB B CBMDØO FYUFSJPS B $ DPO WJTUBT QBOPSÈNJDBT "-26*-&3 å .&4 3&' -' i5".#*&/ %*410/*#-& &/ 7&/5"w 13&$*0 å
"+6/5".&/5 10-*$*" -0$"- $"1 .0/5("5
$&/530 $FSDB EFM NVTFP 1JTP EF N DPO IBCJUBDJPOFT EPCMFT NVZ BDPHFEPS Z FO FYDFMFOUF [POB 'JODB DPO BTDFOTPS #BMDØO FYUFSJPS B $ "-26*-&3 å .&4 (BTUPT DPNVOJEBE JODMVJEPT 3&' $&
6+#0#
.0/5*("-" "NQMJP QJTP FO m ODB EF QPDPT B×PT N IBCJUBDJPOFT HSBO DPNFEPS MVNJOPTP "TDFOTPS 1, */$-6*%0 &/ &- 13&$*0 "-26*-&3 å NFT (BTUPT EF DPNVOJEBE JODMVJEPT 3&' .0
"+6/5".&/5 10-*$*" -0$"- $"1 5*"/" 3®%*0 5*"/"
-" .03&3" "NQMJP QJTP EF N IBCJUBDJPOFT DPNFEPS EF N DPO TBMJEB B CBMDØO FYUFSJPS B $ .VZ CVFOB m ODB DPO BTDFOTPS ``*ONFKPSBCMF [POB "-26*-&3 å .&4 (BTUPT EF DPNVOJEBE JODMVJEPT 3&' .3
NC ZCTZC
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