Catálogo Ésika Chile C15 by SomosBelcorp

&+,/( &

KHKN T éK 0=PPKK %JPAJOA

ZZZ HVLND EL]

DKN=O @A EJPAJOK ?KHKN

U =DKN= P=I>EÛJ DQIA?P= PQO H=>EKO

18(9$ )Ä508/$

(= OAJOQ=HE@=@ @A PQO H=>EKO JK PEAJA HßIEPAO EOBNQP= =DKN= =@AIbO @A DKN=O @A ?KHKN EJP=?PK QJ= @AHE?EKO= OAJO=?EäJ @A DQIA?P=?EäJ U OQ=RE@=@ AJ PQO H=>EKO

18(9$ )Ä508/$

3DVR $SOLFD HO FRORU \ GHMD VHFDU PLQXWRV

48e 129('$'(6 75$( (/ 'Ç2 7$7722 ,17(16(" (Q HO FRORU VX UHQRYDGD WHFQRORJtD 0DJQHWLF %LR $FWLYH DKRUD RIUHFH XQD DSOLFDFLyQ PiV VXDYH \ SODFHQWHUD (Q HO EULOOR LQFOX\H &HUDPLGDV TXH KXPHFWD LQWHQVDPHQWH WXV ODELRV

'( '85$&,Ä1

3DVR $SOLFD HO EULOOR TXH DGHPiV KXPHFWD WXV ODELRV \ GHMD XQD DJUDGDEOH VHQVDFLyQ

(YDOXDFLyQ VHQVRULDO GH GXUDFLyQ UHDOL]DGD EDMR FRQGLFLRQHV GH ODERUDWRULR

K V

'( '85$&,Ä1

+25$6 '( '85$&,Ä1 ,17(16$ +80(&7$&,Ä1 ,17(16$ 68$9,'$' /DELDO G~R WDWWRR LQWHQVH SLPLHQWD FDOLHQWH \ TXLQWHWR JODPRXU EODFN

SURPRFLyQ FXDUWHWR GH VRPEUDV SiJ

18(9$ )Ã&#x201E;508/$

%212

'( '(6&8(172

3RU OD FRPSUD GH FXDOTXLHU

/DELDO '~R

,%)%!*0 (%!*0!

7DWWRR ,QWHQVH

&yG

//e9$7( 81

@AIbO *K JA?AOEP= NAPKMQAO *K PN=JOBEANA /DELDO G~R WDWWRR LQWHQVH PO J IO R] R] 9DORUL]DGR HQ

%212 '(

3$5$ &2035$5

81 48,17(72 ' ( 6 2 0 % 5 $ 6 (OLJH WX WRQR HQ OD SiJ

.+/ $%

"1 /% /3!!0

2%*+ !(%//

.+/ .! )

+. ( ) #%

&yG

+. ( 00. 0%+*

$+ +( 0! %*0!*/!

.+/ )%/0!.5

/ ()+* 3+* !.

%.1!( !/%.!

&yG

.+&+ , //%+*

.+&+ $%,*+0%

"^ , //%+*

.+/ (%#$0

"1 /% $+0

&yG

(YDOXDFLyQ VHQVRULDO GH GXUDFLyQ UHDOL]DGD EDMR FRQGLFLRQHV GH ODERUDWRULR

/AJOQ=HE@=@ MQA =?=L=N= IEN=@=O PK@K AH @ß= 4XLQWHWR GH VRPEUDV SURIHVLRQDO 0RFFD IDVKLRQ

4XLQWHWR GH VRPEUDV SURIHVLRQDO *ODPRXU EODFN

9LHQH FRQ LQVWUXFFLRQHV SDUD PDTXLOODUWH *

0i[LPD GXUDFLyQ \ FRORU 3URWHJH WXV SiUSDGRV

0 1

& .! yG ! * $ *

%212

&y 5 G ( / ! * /

& ) yG " +. ! /0

//e9$7( 81

48,17(72 '(

620%5$6

$ 6 2 / 2

325 /$ &2035$ '( 81 /$%,$/ -

&2/25),; 0$;7,0( 'Ã&#x2021;2 7$7722

,17(16( '( /$ 3Â½* 3Ã&#x20AC;'(/2 &21 (/ &Ã&#x201E;',*2 48( (1&8(175(6 (1 (/

6,*8,(17( &8$'52

&y ) G # * ! 0%

& ! , yG . + ( + *#

&y ,! G . ) *! *

'( '85$&,Ã&#x201E;1

4XLQWHWR GH VRPEUDV SURIHVLRQDO J R]

,1.,(! .0%/0%

)+ " /$%+*

(%( .+) *0%

#( )+1. ( '

"!/0%2 ( #+(

61( )5/0!.5

&yG

'UHDP IRUHVW

&yG

5R\DO VHQV

&yG

1DWXUH HQFKDQW

&yG

/LOD URPDQWLF

&yG

0RFFD IDVKLRQ

&yG

5RVH SURORQJ

&yG

$]XO P\VWHU\

&yG

2UR PDJQHWLF

&yG

3XUSOH DUWLVWLF

&yG

*ODPRXU EODFN

&yG

)HVWLYDO JROG

&yG

$TXD SHUPDQHQW

&yG

%RQR YiOLGR VROR SDUD HVWD FDPSDxD %RQR QR DFXPXODEOH 6ROR SXHGHV DSOLFDU XQ ERQR GH SRU FDGD VRPEUD 1R WH OOHJDUi QLQJ~Q PDWHULDO DGLFLRQDO

(YDOXDFLyQ VHQVRULDO GH GXUDFLyQ UHDOL]DGD EDMR FRQGLFLRQHV GH ODERUDWRULRY

'HOLQHDGRU SDUD RMRV GH Pi[LPD GXUDFLyQ 1HJUR

/DELDO GH Pi[LPD GXUDFLyQ &DQGHOLW

0Q LK@AN @A =PN=??EÃ¤J JK PEAJA BEJ 0iVFDUD VHFUHWRV GH VHQVXDOLGDG 1HJUR

0iVFDUD SDUD SHVWDxDV VHFUHWRV GH VHQVXDOLGDG QHJUR ODELDO Pi[LPD GXUDFLyQ FDQGHOLW \ TXLQWHWR GH VRPEUDV SURIHVLRQDO JODPRXU EODFN

SURPRFLyQ FXDUWHWR GH VRPEUDV SiJ

* !(%0

/22. &2/25

&yG

&RORU LQWHQVR SRU KRUDV SURYRFDWLYD VXDYLGDG IiFLO DSOLFDFLyQ

+.+ #( )+1.

0i[LPD H[WHQVLyQ \ FXUYD Â´ MD HO FRORU SRU PXFKR PiV WLHPSR

'( '85$&,Ã&#x201E;1

.+&+ /! 1 0+.

0i[LPD DGKHUHQFLD GH FRORU WH[WXUD H[WUD VHGRVD

&yG

)+. + *%#$0

$ 358(%$ '(

&yG

$*8$

$+ +( 0! / 0Â¤* &yG

.+/ + *1 ! &yG

*!#.+ ^ *+ &yG

'HOLQHDGRU SDUD RMRV GH Pi[LPD GXUDFLyQ J R] 9DORUL]DGR HQ

/DELDO GH Pi[LPD GXUDFLyQ J R] 9DORUL]DGR HQ

%.1!( !* *0+

61( 6 "%.+ &yG

&yG

0iVFDUD SDUD SHVWDxDV VHFUHWRV GH VHQVXDOLGDG J R] 9DORUL]DGR HQ

) ..Â¨* *+# (

01.-1!/ )!0Â¡(% +

&yG

2%*+ $%

$!..5

* !(%0

&yG

*!#.+ ) ..Â¨* %*0!*/+

*!#.+ %*0!*/+

) ..Â¨* %*0!*/+

&yG

,( 0 . % *0!

2!. ! +0+_+

)+. + ,.+"1* +

) ..Â¨* 2% . *0!

&yG

"1 /% ,%*'

.+/ (%#$0

)%!( #( ^

+,+.0+

&yG

(YDOXDFLyQ VHQVRULDO GH GXUDFLyQ UHDOL]DGD EDMR FRQGLFLRQHV GH ODERUDWRULR

z,QA@AO REREN OEJ =CQ= 0QO H=>EKO P=ILK?K $E@NbP=HKO ?KJ AH H=>E=H DE@N=P=JPA ATPNAIK

/DELDO KLGUDWDQWH H[WUHPR URMR LQWULJDQWH FXDUWHWR URVD LOOXVLRQ PiVFDUD WUDWDQWH QHJUR \ GHOLQHDGRU SDUD RMRV HQ OiSL] QHJUR

SURPRFLyQ FXDUWHWR GH VRPEUDV SiJ

* . *& ,.%) 2!. &yG

#. * 0! /! 1 0+. &yG

.+/ !* *0+ &yG

"^ )+

( % ( $% . 0 *0!

/22. &2/25

) ..ยจ* #( )+1. &yG

$E@N=P=?EรคJ EJPAJO= LKN DKN=O UQ@= = MQA PQO H=>EKO NA?QLANAJ AH JERAH @A =CQ= MQA JA?AOEP=J /DELDO KLGUDWDQWH H[WUHPR J R] 9DORUL]DGR HQ

&yG

.+/ !/,(!* +. &yG

.+&+ %*0.%# *0!

!H I=MQEHH=FA PA ?=I>E= AH bJEIK

&yG

"1 /% #( ) &yG

.+&+ !/!+ &yG

.+/ %2 &yG

)$&725 '( 3527(&&,ร 1 62/$5

)36 .+/ .+)ยก*0% &yG

+. ( $% &yG

"1 /% 10%2 *0! &yG

+.#+_ /!45 &yG

!H ?KHKN AO QJ CN=J =HE=@K L=N= D=?ANPA OAJPEN IbO OACQN= IbO DANIKO= IbO BAHEV U ?KJBE=@= L=N= ?KJMQEOP=N =H IQJ@K KILNQร >=HK PK@KO HKO @ร =O Iร N=PA =H AOLAFK ?KJ H= ?=N= H=R=@= U @AOLQร O I=MQEHH=@= !H ?KHKN PA LANIEPA QJ ?=I>EK @A HKKG U @A bJEIK EJIA@E=PKO

AO?Q>NA AH H=>E=H MQA R= ?KJPECK /$%,26 6Ã&#x2021;3(5 '(),1,'26

0Â½;,0$ '85$&,Ã&#x201E;1 '( &2/25

3HUIHFW PDWFK UHG VXSUHPH

/DELDO GH ODUJD GXUDFLyQ IUHVD VZHHW

(=>E=H U @AHEJA=@KN ?KJ AH ?KHKN AT=?PK LHE?=?EÃ¤J LNA?EO= /DELDO

)$&725 '( 3527(&&,Ã&#x201E;1 62/$5

)36

3HUIHFW 0DWFK /DELDO 'HOLQHDGRU J R] 9DORUL]DGR HQ

KHKN MQA OA =@DEANA LKN IbO PEAILK 0ATPQN= OQ=RA /DELDO GH ODUJD GXUDFLyQ J R] 9DORUL]DGR HQ

)$&725 '( 3527(&&,Ã&#x201E;1 62/$5

)36

"1 /% !(%.%+ &yG

!.!6 !!,

.! /1,.!)!

$!..5 ( //

&yG

+""!! /3!!0 &yG

1. 6*+ +. ( #( ) /! 1 0%+* &yG

&yG

"1 /% "!))! &yG

SURPRFLyQ FXDUWHWR GH VRPEUDV SiJ

.+&+ "%!/0

&yG

.+/ !((! &yG

".!/ /3!!0

&yG

2%*+ )% *%#$0

'HOLQHDGRU

"1 /% /1 (%)!

"1 /% !1"+.%

&yG

"1 /% 0!*0 %Â¨*

&yG

2%*+ !/!+

.+/ /! 1 %Â¨*

&yG

2%*+ +1-1!0

.+&+ /!45

&yG

#. * 0! $% &yG

* 01. ( 1*!

.+&+ , /%Â¨*

&yG

/22. &2/25

'( '(6&8(172

.+/ +-1!0 &yG

) (2 %(1/%Â¨* &yG

.+/ + )Â¡#% + &yG

) ..Â¨* +0+_+ &yG

&yG

)$&725 '( 3527(&&,Ã&#x201E;1 62/$5

)36

( 1 */ /! * + 2 % yG &

" * 0 /Â¤ "1 /%

)bTEI= OQ=RE@=@ ?=>=@K HEOK KJ =?AEPAO J=PQN=HAO /DELDO XOWUD VXDYL]DQWH J R] 9DORUL]DGR HQ

)+. + + /!/%Â¨* &yG

) ..Â¨* 0!*0 %Â¨* &yG

.+/ %*0.%# &yG

0A R= = CQOP=N LKNMQA

&yG

.+ Â¨* % 2 + . + , G &+ &y

AF= PQO H=>EKO OQ=RAO A DE@N=P=@KO

0EAJA QJ =NKI= U O=>KN @AHE?EKOKO

*K AO LAC=FKOK

.+&+ 2%2 6

"1 /% /! 1 0+. &yG

/DELDO Pi[LPR FRORU WRQR FKHUU\ PLVWHULR PiVFDUD GH IRUWDOHFLPLHQWR QHJUR GHOLQHDGRU NKRO QHJUR \ FXDUWHWR URVD LOOXVLRQ

KHKNAO EJPAJOKO @AO@A H= LNEIAN= =LHE?=?EÃ¤J 0ATPQN= OQ=RA /DELDO HQ EDUUD Pi[LPR FRORU J R] 9DORUL]DGR HQ

) ..Â¨* Â¡(% + &yG

2%*+ #( )+1.

)+ )%/0!.%+

&yG

0QO H=>EKO OKJ H= AOPNAHH= =HAO I=UKN EJPAJOE@=@ U ?KHKN

U HÃ©?AHKO

.+&+ $!..5

* . *& 2%2 6

&yG

+. ( /$%*!

"1 /% " * 5 &yG

.+&+ )+. &yG

SURPRFLyQ FXDUWHWR GH VRPEUDV SiJ

.+/ %2%*

&yG

) #!*0 0.!2% &yG

.+/ + 0!*0 %Â¨* &yG

$!..5 )%/0!.%+ &yG

)bTEIK >NEHHK !BA?PK @A H=>EKO DÃ©IA@KO

/22. &2/25

$!..5 ) #% &yG

/DELDO OtTXLGR EULOOR XOWUD IDQWiVWLFR PO IO R] 9DORUL]DGR HQ

$!..5 /$%*!

.!* /1*/$%*!

.+/ !!,

.5/0 ( ,.%/)

&yG

.+&+ /$%*!

.+&+ %..!/%/0% (!

.+/ /$%*!

&yG

.+/ + ) #*!0%

)+. + !)+0%+*

&yG

* . *& .! ) .+/ !/0!( .

.+/ + " /$%+*

&yG

/Ã©LAN Bb?EH @A =LHE?=N

) ..Â¨* .+1#!

.+* ! .%#$0

&yG

%.1!( %..!/%/0% (!

!.!6 /! 1 %Â¨*

&yG

"1 /% $% &yG

&yG

,.% $+ ! )+.

+. ( /,( /$ &yG

NEHHK ?KJ @AHE?EKOK O=>KN U ATMQEOEPK =NKI= %ULOOR ODELDO VDERU LUUHVLVWLEOH PO IO R] 9DORUL]DGR HQ

!(% % ! ".!/ / +* ".!/ .!) &yG

&yG

/ * Â¤ ) * .%* +-1!0 ,.+2+ %Â¨* &yG

&yG

". ) 1!/ 0!*0 %Â¨* ) *6 * #+(+/ !* *!( ! &yG $+ +( 0! &yG +. ( ! * . *& &yG

) *& . * 01. (

&yG

AHEJA= U @EBQIEJ=

(HAR= PQ IEN=@= = KPNK JERAH

'HOLQHDGRU NRKO FRQ GLIXPLQDGRU J R] 9DORUL]DGR HQ

,!.( '+$(3 &yG

'LIXPLQDGRU

SURPRFLyQ FXDUWHWR GH VRPEUDV SiJ

61( '+$( &yG

01.-1!/ '+$( &yG

*!#.+ '+$( &yG

)+. + '+$( &yG

) ..Â¨* '+$( &yG

'HOLQHDGRU

(63(&,$/

'( '(/,1($'25(6 '(/,1($

',)80,1$ 'LIXPLQDGRU GH FRORU &UHD HIHFWR ªVPRNH\« VLPLODU DO GH ODV VRPEUDV

'( '(6&8(172

'HOLQHDGRU D]XO NKRO \ 0iVFDUD D SUXHED GH DJXD QHJUR

SDUD HQPDUFDU WXV RMRV \ FUHDU XQ HIHFWR LQWHQVR D WX PLUDGD

ABEJA PQ >AHHAV=

'HOLQHDGRU SDUD RMRV YHUGH OX[

%JPAJOEBE?= AH ?KHKN AJ PQO ?AF=O KFKO U H=>EKO L=N= HKCN=N QJ =?=>=@K IbO EIL=?P=JPA

3$5$ 2-26

0KJKO HQT 2!. ! (14

"^ (14

&yG

'HOLQHDGRU HQ OiSL] SDUD FHMDV SDUD RMRV SDUD ODELRV J R] 9DORUL]DGR HQ F X F X

&yG

61( (14

*!#.+ (14

&yG

+. + ,.! %(! 0+ &yG

7DMDOiSL]

61( )! %0!..Â¡*!+

*!#.+ %*0!*/+

&yG

9DORUL]DGR HQ

,( 0! + . 0 &yG

) ..Â¨* "^ &yG

2!. ! /% *!5 &yG $ 358(%$ '(

!(!/0! ,.% !

$*8$

&yG

01.-1!/ ) #% &yG

) ..Â¨* +.#+_ &yG

SURPRFLyQ FXDUWHWR GH VRPEUDV SiJ

(63(&,$/

'HOLQHDGRU SDUD FHMDV QDWXUDO

'( '(/,1($'25(6

'HOLQHDGRU SDUD ODELRV URVD GHOLFDWH

3$5$ /$%,26

3$5$ &(-$6

.+&+ ) *$ 00 * &yG

.+/ !(% 0!

) ..Â¨* ( *+

&yG

) ..Â¨* "^ &yG

* 01. ( &yG

) ..+* . )!( &yG

*!#.+

* . *& $%

2%*+ %* %0 *0!

&yG

#1%* .! ( &yG

"1 /% 2%2 6 &yG

+. ( #( ^ &yG

z-QÛ IEN=@= MQEANAO Pé /KBEOPE?=@= K EIL=?P=JPA @KO @AHEJA=@KNAO ?KJ @EOPEJPK =?=>=@K L=N= HKCN=N H= IEN=@= MQA @AOAAO

&yG

*!#.+ !40.!)+

$&$%$'2 352)(6,21$/

'HOLQHDGRU DFDEDGR SURIHVLRQDO QHJUR H[WUHPR $ 358(%$ '(

$*8$

(ßJA=O @AHE?=@=O ?=>=@K IbO LNA?EOK

,=N= QJ HKKG IbO OKBEOPE?=@K

'HOLQHDGRU OtTXLGR GH DFDEDGR SURIHVLRQDO PO IO R] 9DORUL]DGR HQ

0+*+/ (14

,( 0 /, .'

*!#.+ /, .'

) ..¨* /, .'

61( /, .'

&yG

SURPRFLyQ FXDUWHWR GH VRPEUDV SiJ

2%+(!0 )%/0!.%+ &yG

2!. ! 1 6

)+. + #( )+1.

) ..¨* +0+_+

#.%/ ,( 0

+. + !* *0+

61( /!*/%0%2!

&yG

78 2)(57$ (675(//$

&yG

*!#.+ !40.!)+

)Â½&,/ $3/,&$&,Ã&#x201E;1

'HOLQHDGRU IiFLO DSOLFDFLyQ QHJUR H[WUHPR $ 358(%$ '(

$*8$

,QJP= LHQIÃ¤J L=N= Bb?EH =LHE?=?EÃ¤J !JI=N?= PQ IEN=@= AJ QJ OKHK PN=VK

'HOLQHDGRU OtTXLGR GH IiFLO DSOLFDFLyQ PO IO R] 9DORUL]DGR HQ

0+*+/ (14

2%+(!0 )%/0!.%+

2!. ! 1 6

)+. + #( )+1.

) ..Â¨* +0+_+

#.%/ ,( 0

+. + !* *0+

&yG

61( /!*/%0%2! &yG

,( 0 /, .'

*!#.+ /, .'

) ..Â¨* /, .'

61( /, .'

&yG

,ANBA?P= AJ PK@= K?=OE채J 2ANPA >AHH= AO IbO Bb?EH =DKN= ?KJ OKI>N=O OQLANBb?EHAO @A ?KI>EJ=N

&XDUWHWR D]XO RFHDQ

35202&,Ã&#x201E;1 &XDUWHWR GH VRPEUDV D VROR

#. * 0! + ! &yG

01.-1!/ !/%#* &yG

SRU OD FRPSUD GH XQ SURGXFWR GH OD SiJ D OD

&XDUWHWR GH VRPEUDV J R] 9DORUL]DGR HQ 9LHQH FRQ JXtD GH DSOLFDFLyQ

(%( !)+0%+* &yG

2!. ! &1*#(! &yG

,( 0 .+*6! &yG

) ..Â¨* ( //%

!/)!. ( (14

61( + ! *

61( #+( !*

&yG

.+/ 2%*0 #! &yG

2%*+ /3!!0 &yG

1R LQFOX\H RWUDV SURPRFLRQHV QL PXHVWUDV 3URPRFLyQ YiOLGD KDVWD DJRWDU VWRFN

)+. + , //%+* &yG

.+/ $% &yG

SURPRFLyQ FXDUWHWR GH VRPEUDV SiJ

&yG

#.%/ #( )

&yG

( * + ) ."%(

&yG

(%( )¡#% +

&yG

.+/ /!

&yG

/ ()¨* !/0!(( *0!

&yG

.+/ !*/1!_+

&yG

) #!*0 2% . *0!

&yG

.+/ .+) * !

&yG

.+/ 2% . *0!

&yG

$ ), #*! # (

&yG

+ .! )¤/0% +

&yG

"^ )%!(

&yG

)+. + "%!/0

&yG

61( )¤/0% +

&yG

,«.,1. , /%¨*

&yG

12 !.*!0

&yG

/ *#.! ( 0%*

&yG

& ! +.%!*0 (

&yG

2!. ! /1*01+/+

(VPDOWH SURIHVLRQDO HQ SDUD XxDV URVD HXIRULD

1JK JQJ?= AO OQBE?EAJPAÎ

,=N= ?=@= K?=OEäJ L=N= ?=@= AOP=@K @A bJEIK OEAILNA D=U QJ ?KHKN E@A=H L=N= PQO Qã=O

/22. &2/25

(VPDOWH SURIHVLRQDO HQ SDUD XxDV PO IO R] 9DORUL]DGR HQ

1XWUH IRUWDOHFH ODUJD GXUDFLyQ H[WUD EULOOR VHFDGR UiSLGR DFDEDGR XQLIRUPH

'( '(6&8(172

%DVH IRUWDOHFHGRUD SDUD XxDV PO IO R]

) (2 /+"0

&yG

9DORUL]DGR HQ

.+/ !1"+.% &yG

61( .%/ &yG

3URWHJH \ IRUWDOHFH WXV XxDV GiQGROHV XQD PHMRU DSDULHQFLD

Â½PEDU

.1 Â¤ &yG

Â¡) . &yG

=HA RE@= = PQO IAFEHH=O !HECA AH ?KHKN MQA LNABEAN=O U D=V MQA PQ LEAH HQV?= @AOHQI>N=JPA 5XERU FRPSDFWR HIHFWR JHPDV \ PLQHUDOHV J R] 9DORUL]DGR HQ

)+ &yG

1 .6+ .+/

+. ( &yG

&yG

SURPRFLyQ FXDUWHWR GH VRPEUDV SiJ

#. * 0! .+/! &yG

.!* /'5 &yG

/22. &2/25

2FWHWR GH VRPEUDV J R] 9DORUL]DGR HQ

( //% #+( !* &yG

.+) *0% +(+./

+0+_+ $%

!1"+.% (1!/

&yG

6HW GH DSOLFDGRUHV SDUD VRPEUDV \ ODELDO &yG

9DORUL]DGR HQ

'HOLQHDGRU OtTXLGR HIHFWR PiJLFR SDUD RMRV PO IO R]

&yG

+(+. /5),$+*5

&yG

9DORUL]DGR HQ

'LIXPLQDGRU GH VRPEUDV $SOLFDGRU GH VRPEUDV

$SOLFDGRU GH ODELDO

&yPR XVDUOR &RORFD HO SLQFHO HQ OD VRPEUD GHO FRORU TXH HOLMDV SDUD GHOLQHDUWH (VSHUD D TXH FDUJXH HO FRORU \ Â&#x203A;GHOtQHDWH FRPR VLHPSUH OR KDFHV

AO?Q>NA AH LK@AN @A PQ IEN=@=

0QO LAOP=ã=O D=?AJ IQ?DK L=N= MQA PQO KFKO ?=QPERAJ PESTAÑAS 77% MÁS LARGAS 0iVFDUD SDUD SHVWDxDV HIHFWR H[WHQVLRQHV J R] 9DORUL]DGR HQ

61(

) ..¨*

*!#.+

&yG

*!#.+ ) ..¨* &yG

$ 358(%$ '(

$*8$

0iVFDUD SDUD SHVWDxDV HIHFWR H[WHQVLRQHV QHJUR

PESTAÑAS CON VOLUMEN Y SUPERLIGERAS 0iVFDUD HIHFWR PD\RU YROXPHQ J R] 9DORUL]DGR HQ

61(

) ..¨*

*!#.+

&yG

*!#.+ ) ..¨* &yG

$ 358(%$ '(

$*8$

SURPRFLyQ FXDUWHWR GH VRPEUDV SiJ

0iVFDUD HIHFWR PD\RU YROXPHQ QHJUR

0iVFDUD PLUDGD KHFKL]DQWH J R] 9DORUL]DGR HQ

*!#.+ ) ..Â¨*

*!#.+

) ..Â¨*

&yG

&HSLOOR ' TXH GHÂ´ QH ODV SHVWDxDV

RA?AO IbO RKHQIAJ ,AOP=Ã£=O OAL=N=@=O U @ABEJE@=O

IEN=@= DA?DEV=JPA

$ 358(%$ '(

$*8$

'( '(6&8(172

5L]DGRU SDUD SHVWDxDV &yG

9DORUL]DGR HQ

z Q=H AO PQ IbO?=N= *K PK@=O PAJAIKO H=O IEOI=O LAOP=Ã£=O JE MQANAIKO HKO IEOIKO NAOQHP=@KO

0iVFDUD 0HJD /DVKHV J R] 9DORUL]DGR HQ

PiV YROXPHQ \ PiV ODUJDV 0iVFDUD PHJD ODVKHV QHJUR

$ 358(%$ '(

$*8$

*!#.+ ) ..Â¨* &yG

*!#.+

) ..Â¨*

&yG

0iVFDUD IRUWDOHFLPLHQWR FRQWLQXR J R] 9DORUL]DGR HQ

3HVWDxDV PiV IXHUWHV &RQ DFHLWH GH ULFLQR \ ROLYD 0iVFDUD IRUWDOHFLPLHQWR QHJUR

$ 358(%$ '(

$*8$

*!#.+ ) ..Â¨*

*!#.+

) ..Â¨*

&yG

0iVFDUD SDUD SHVWDxDV H[WUD FXUYDV J R] 9DORUL]DGR HQ

PiV FXUYDV FRQ WDSD UL]DGRUD \ YHFHV PiV YROXPHQ 0iVFDUD H[WUD FXUYDV QHJUR $ 358(%$ '(

$*8$

5HVXOWDGRV REWHQLGRV HQ HYDOXDFLyQ GH HÂ´ FDFLD FRQ HO XVR FRPELQDGR GHO UL]DGRU \ OD PiVFDUD HQ YROXQWDULDV HQWUH \ DxRV

SURPRFLyQ FXDUWHWR GH VRPEUDV SiJ

*!#.+ ) ..Â¨* &yG

*!#.+

) ..Â¨*

&yG

35202&,Ä1 5HORM ,PSUHVVLYH IRU KHU D VROR

3RU OD FRPSUD GH XQ SURGXFWR GH OD SiJ D OD

&yG

5HORM ,PSUHVVLYH IRU KHU 9DORUL]DGR HQ

5HORM SODWHDGR EULOODQWH FRQ ´ QRV DFDEDGRV \ GHWDOOHV HQ HO LQWHULRU FRPR ODV PDQHFLOODV EULOODQWHV \ UHOLHYHV SODWHDGRV HQ HO OXJDU GH ORV Q~PHURV 1R LQOFX\H RWUDV SURPRFLRQHV QL PXHVWUDV 3URPRFLyQ YiOLGD KDVWD DJRWDU VWRFN

%(1)%* +.!/

0+*+/ )! %+/

,.+"1* %6 +.!/

7RQRV LOXPLQDGRUHV

7RQRV PHGLRV GH FRORU

7RQRV SURIXQGL]DGRUHV

(VWRV VRQ VROR DOJXQRV ORRNV TXH SXHGHV FRQVHJXLU FRQ FDGD HVWXFKH &1*#(! "!!(%*#

SURPRFLyQ FXDUWHWR GH VRPEUDV SiJ

) #% .! )/

1. * $%

/22. &2/25

EAJPKO @A ?KI>EJ=?EKJAO { !.+ ANNKNAOÎ 0Q AOPQ?DA @A OKI>N=O PA @= PK@=O H=O B=?EHE@=@AO L=N= MQA I=MQEHH=N PQ KFKO OA= OAJ?EHHßOEIK

+NC=JEV=@K LKN PKJKO EHQIEJ=@KNAO IA@EKO U LNKBQJ@EV=@KNAO

KHKNAO ?KI>EJ=>HAO

I=UKN ?=NC= @A ?KHKN U =@DANAJ?E=

'( '(6&8(172

(VWXFKH GH VRPEUDV J R] 9DORUL]DGR HQ

%DVH GH PDTXLOODMH URVWUR KLGUDWDGR 5RVD

)$&725 '( 3527(&&,Ã&#x201E;1 62/$5

)36

)$&725 '( 3527(&&,Ã&#x201E;1 62/$5

0. */(Â« % +/ &yG

!%#!

)36

&yG

!%#!

0!.. +0

&yG

&yG )$&725 '( 3527(&&,Ã&#x201E;1 62/$5

)36

%DVH GH PDTXLOODMH URVWUR KLGUDWDGR J R] 9DORUL]DGR HQ

%DVH GH PDTXLOODMH SDUD URVWUR HQ SUR J R] 9DORUL]DGR HQ

.+/

!%#!

.+/

&yG

!%#! &yG

.+/

&yG

.+/

!%#!

&yG

3ROYRV VXHOWRV SDUD URVWUR SLHO GH VHGD J R] 9DORUL]DGR HQ

5HVXOWDGRV REWHQLGRV HQ SUXHED GH HÂ´ FDFLD UHDOL]DGD FRQ SDUWLFLSDQWHV GHVSXpV GH KRUDV GH OD DSOLFDFLyQ GHO SURGXFWR

SURPRFLyQ FXDUWHWR GH VRPEUDV SiJ

/22. &2/25

)E OA?NAPK QJ= LEAH LANBA?P=

'LVLPXOD ORV SRURV DELHUWRV \ GHMD HO URVWUR IUHVFR \ PDWH

)+/ 0+ &yG

)!(+*!

(= >=OA AO EJ@EOLAJO=>HA L=N= LNAL=N=N H= LEAH K?QHP=N EILANBA??EKJAO U AIL=NAF=NH=

&yG

/ * (/ &yG

3ROYRV \ EDVH HQ XQ VROR SURGXFWR HPSDUHMD \ PDWLÂ´ FD

$*Ã&#x20AC;7$/2 $17(6 '( 86$5

'( '(6&8(172 (1 %$6( '( 0$48,//$-( 6863(16,Ã&#x201E;1 5(*8/$'25$

&202 %$6(

&202 32/926

%DVH GH PDTXLOODMH VXVSHQVLyQ UHJXODGRUD PO IO R] 9DORUL]DGR HQ

.+/ &yG

3ROYRV FRPSDFWRV GREOH DFDEDGR J R] 9DORUL]DGR HQ

.+/

!%#!

&yG

)5$*$1&,$6

6(168$/(6

!J ?=@= NKO= OEAILNA D=U =HCK @A PE

SURPRFLyQ UHORM PXMHU LPSUHVLYH SiJ

(6(1&,$6 $520$6

526( 526( (DX GH SDUIXP DWRPLVHXU PO IO R] &yG

9DORUL]DGR HQ

)ORUDO 6HQVXDO 'HOLFDGDV URVDV XQ WRTXH GH YDLQLOOD \ PXVN

NKI=O MQA ?KJA?P=J ?KJ PQO OAJPEIEAJPKO !J ?=@= LANBQIA D=U QJ= AOAJ?E= MQA JK OKHK @ABEJA AH ?=Nb?PAN @A AOA =NKI= OEJK P=I>EÃ&#x203A;J H= AIK?EÃ¤J MQA AO ?=L=V @A @AOLANP=N AJ PE 1J= BHKN K QJ= JKP= MQA D=?A FQACK ?KJ PQO OAJPEIEAJPKO IbO LNKBQJ@KO U DANIKOKO

AO?Q>NA AJ HKO =NKI=O @A ^OEG= AO=O JKP=O MQA ATLNAO=J P=J >EAJ HK MQA OEAJPA PQ ?KN=VÃ¤J

z-QÛ =NKI= R= IAFKN ?KJPECK

/ 5$ 2 )/

)/ 25 $/

( /& '8

'8 /& (

/ $ 87 )5

2 ,& 75 &À

&À 75 ,& 2

'2 ,$ (& 3 (6

(6 3( &, $' 2

)5 87 $/

,9$ &7 $

6(168 $/ $ & , 7 1 0½ 52

(/(* $1 7(

AO?é>NAHK AJ AH >=JE?K @A NKI=O @A ^OEG=

)/25$/

'8/&(

)587$/

(63(&,$'2 &À75,&2

&À75,&2 (63(&,$'2 )587$/

'8/&(

)/25$/

«O=HK =Oß 1>E?= QJK @A HKO CNQLKO OACéJ PQ AOPEHK !HAC=JPA .KIbJPE?= /AJOQ=H K ?PER=

(QACK AHECA AH PELK @A =NKI= OACéJ H= B=IEHE= KHB=PER= "HKN=H QH?A "NQP=H !OLA?E=@K K ßPNE?K

!OP=O OAã=HAO PA =UQ@=NbJ = AJ?KJPN=N PQ =NKI= AJ AH ?=PbHKCK )5$*$1&,$6

(/(*$17(6 ,PiJHQHV ,PiJHQHV 'LDPRQGV 6SHFLDO ;LDQD

)5$*$1&,$6

520½17,&$6 *UD]]LD 5RPDQ]L )LRUL 9DQLOOD 6FHQW $wQQDUD

)5$*$1&,$6

6(168$/(6 *UD]]LD ([RWLF *UD]]LD 3DUDGLVH 3DVVLRQ 0XVN 9HKHPHQFH SDUD HOOD 5RVH 5RVH 6H[\ *ROG %HDXW\ 5HG 'DQ]]tD 5HG ,QWHQVH ,QFLWDQW -DGLVV 6HFUHW 0XVN

)5$*$1&,$6

$&7,9$6

([SUHVVLRQ eODQLH *\UD 0RPHQWRV 9LEUDQWHV 0RPHQWRV /LEHUWDG <RX <RX /LYH

/! .!0 )1/'

AF= MQA PQ LANBQIA HK ?KJMQEOPA

)527$ $48Ã&#x20AC; < 6,(17( (/ $520$ 3$66,21 086. (1 78 3,(/

(6(1&,$6 $520$6

)5$*$1&,$6

6(168$/(6

-QA OA NEJ@= = PQO AJ?=JPKO 9(+(0(1&( 3$5$ (//$ (DX GH SDUIXP DWRPLVHXU PO IO R] &yG

9DORUL]DGR HQ

)ORUDO 6HQVXDO 7HQWDGRUDV QRWDV GH URVD GDPDVFHQD \ PXJXHW

SURPRFLyQ UHORM PXMHU LPSUHVLYH SiJ

(6(1&,$6 $520$6

%($87< 5(' (DX GH SDUIXP DWRPLVHXU PO IO R] &yG

9DORUL]DGR HQ

AO?Q>NA AH NKFK MQA D=U AJ PE

)ORUDO 6HQVXDO 8Q DURPD DEVROXWR GH URVDV \ MD]PtQ UHYHOD WRGD OD LQWHQVLGDG GH WX HVHQFLD GH PXMHU

)5$*$1&,$6

6(168$/(6

'XOFH 6HQVXDO ,UUHVLVWLEOH PXVN \ WHQWDGRUDV IUDPEXHVDV

5(' ,17(16( (DX GH SDUIXP DWRPLVHXU PO IO R]

'$1==Ã&#x20AC;$ (DX GH SDUIXP DWRPLVHXU PO IO R]

&yG

9DORUL]DGR HQ

'XOFH 6HQVXDO 3URYRFDWLYR Âµ LUWHR GH RUTXtGHD FDOLSVR \ VRUEHWH GH SHUD

SURPRFLyQ UHORM PXMHU LPSUHVLYH SiJ

(6(1&,$6 $520$6 (VSHFLDGR 6HQVXDO 6HFUHWDV HVSHFLDV \ Âµ RU GH QHUROL DWUDHQ OR TXH PiV GHVHDV

)ORUDO 6HQVXDO 6HQVXDOHV RUTXtGHDV EODQFDV \ Âµ RU GH QDUDQMR

-$',66 (DX GH SDUIXP DWRPLVHXU PO IO R]

6(;< *2/' (DX GH SDUIXP PO IO R]

&yG

9DORUL]DGR HQ

&yG

0Ã© O=>AO ?Ã¤IK OA@Q?ENHK

,1&,7$17 (DX GH SDUIXP DWRPLVHXU PO IO R] &yG

9DORUL]DGR HQ

(6(1&,$6 $520$6

{-QÛ >EAJ PA R=J HKO @E=I=JPAOÎ

)527$ $48À < 6,(17( (/ $520$ ,0$*(1(6 ',$021'6 (1 78 3,(/

)ORUDO (OHJDQWH 'HVOXPEUD FRQ URVDV GH %XOJDULD \ JDUGHQLDV

)5$*$1&,$6

(/(*$17(6

)ORUDO (OHJDQWH /XMRVR HQFXHQWUR GH \ODQJ \ODQJ \ MD]PLQHV

(6(1&,$6 $520$6

!HAC=JPA D=OP= AJ PQ LANBQIA

)5$*$1&,$6

520½17,&$6

ßIAHK ?KJ QJ= BHKN

)527$ $48À < 6,(17( (/ $520$ (1 78 3,(/

35202&,Ä1 ,1683(5$%/( )LRUL D VROR

)5$*$1&,$6

$&7,9$6

1J =NKI= BNAO?K U @EJbIE?K ECQ=H = PE

)UXWDO $FWLYD ,PSXOVD WX GtD FRQ FKLVSHDQWHV JRWDV GH PDQGDULQD \ Âµ RU GH ORWR

*<5$ &RORQLD FRQ DWRPL]DGRU PO IO R] &yG

9DORUL]DGR HQ

SURPRFLyQ UHORM PXMHU LPSUHVLYH SiJ

(6(1&,$6 $520$6

9$1,//$ 6&(17 (DX GH SDUIXP DWRPLVHXU PO IO R] &yG

9DORUL]DGR HQ

'XOFH 5RPiQWLFD /D IHOLFLGDG WLHQH DURPD D YDLQLOOD MD]PLQHV \ OLULRV

)E =NKI= PAOPECK @A JQAOPNK =IKN

DURPDV 0%2+/

)ORUDO $FWLYD ([SUHVD WXV VHQWLPLHQWRV FRQ Âµ RU GH QDUDQMR MD]PtQ \ PLPRVDV

)527$ $48Ã&#x20AC; < 6,(17( (/ $520$ (1 78 3,(/

SURPRFLyQ UHORM PXMHU LPSUHVLYH SiJ

(;35(66,21 (DX GH SDUIXP DWRPLVHXU PO IO R] &yG

9DORUL]DGR HQ

Ã¤ILHE?AO AJ PK@K D=OP= AJ AOA =NKI= MQA JKO AJ?=JP=

)5$*$1&,$6

$&7,9$6

)UXWDO $FWLYD 9LWDOLGDG \ DOHJUtD JUDFLDV D OD IUHVFD Âµ RU GH QDUDQMR

)UXWDO $FWLYD 3ODFHQWHURV DFRUGHV GH PDQGDULQD OLPyQ \ FDVVLV

020(1726 9,%5$17(6 (DX GH WRLOHWWH DWRPLVHXU PO IO R]

020(1726 /,%(57$' (DX GH WRLOHWWH DWRPLVHXU PO IO R]

&yG

9DORUL]DGR HQ

SURPRFLyQ UHORM PXMHU LPSUHVLYH SiJ

(6(1&,$6 $520$6

e/$1,( (DX GH SDUIXP DWRPLVHXU PO IO R] &yG

9DORUL]DGR HQ

)ORUDO $FWLYD $OHJUH IXVLyQ GH JDUGHQLDV \ DPRU SRU OD YLGD

/E H= =HACNß= PQREAN= QJ =NKI= OANß= AH PQUK

0K@= IQFAN MQEANA QJ= LEAH ATMQEOEP= (K?EKJAO LANBQI=@=O MQA @AF=J PQ LEAH OQ=RA U ?KJ AH =NKI= @A PQ BN=C=J?E= B=RKNEP=

&yG

SURPRFLyQ UHORM PXMHU LPSUHVLYH SiJ

&yG

78 2)(57$ (675(//$

&yG

/Q=REV=J H= LEAH (= LANBQI=J ?KJ PQ BN=C=J?E= LNABANE@= /RFLRQHV SHUIXPDGDV PO IO R] 9DORUL]DGRV HQ F X F X

&yG

$KU MQEANK OAJPEN H= J=PQN=HAV= AJ IE LEAH &RORQLDV

.EMQßOEIKO =NKI=O = BHKNAO U BNQP=O «O=H=O R=NE=O RA?AO =H @ß=

)UXWDO ([yWLFDV JRWDV GH O\FKHH \ JUDQDGD

)58,76 )/2:(56 &RORQLD PO IO R] )UHHVLD %RXTXHW &yG 7URSLFDO 0DUDFX\i &yG 0\VWLF &RFNWDLO &yG 9DORUL]DGDV HQ F X F X

)ORUDO 'HOLFDGR DURPD GH DPRURVDV IUHHVLDV HQ WX SLHO

)UXWDO 'LVIUXWD GHO UHYLWDOL]DQWH DURPD D PDUDFX\i HQ WX SLHO

(6(1&,$6 $520$6

&RQ WDSD DEUH IiFLO

-DERQHV OtTXLGRV

(EILE=J U OQ=REV=J PQ LEAH ,ANBA?PKO L=N= AH >=Ã£K @E=NEK

-DEyQ OtTXLGR SDUD HO FXHUSR PO IO R] )UHHVLD %RXTXHW &yG 0\VWLF &RFNWDLO &yG 7URSLFDO 0DUDFX\i &yG 9DORUL]DGRV HQ F X F X

0é Oß O=>AO >NEHH=N !HECA AJPNA HKO PNAO @AHE?EKOKO =NKI=O .AOLH=J@AOO MQA @AF=J LNA?EKOKO >NEHHKO AJ PQ LEAH

(6(1&,$6 $520$6

NEHHKO AJ PQ LEAH

5(63/$1'(66 &RORQLD FRQ EULOORV PO IO R] &yG

5(63/$1'(66 ,//86,21 &RORQLD FRQ EULOORV PO IO R] &yG

5(63/$1'(66 )/25(66 &RORQLD FRQ EULOORV PO IO R] &yG

9DORUL]DGDV HQ F X F X

)ORUDO /LPD YHUGH \ JDUGHQLDV WH OOHQDQ GH DOHJUtD \ RSWLPLVPR

)ORUDO )UDJDQWHV OLULRV WH HQYXHOYHQ HQ HQVXHxR

)ORUDO 6HQVXDOHV µ RUHV GHO 2ULHQWH GHVSLHUWDQ WX VHQVXDOLGDG

(HAR= H= OAJOQ=HE@=@ @A H=O BHKNAO &RORQLDV

F X

ÄOHRV FRUSRUDOHV

F X

*K @AF= CN=OKO= H= LEAH

F X

(6(1&,$6 $520$6

/RFLRQHV FRUSRUDOHV

-DEyQ OtTXLGR SDUD FXHUSR

-DEyQ OtTXLGR SDUD PDQRV

/LPSLD DFRQGLFLRQD \ SHUIXPD WRGD WX SLHO FRQ XQ DURPD GH GXUD]QRV IUHVDV \ IUDPEXHVDV

&RQYLHUWH OD UXWLQD GH SXULÂ´ FDU WXV PDQRV HQ XQD H[SHULHQFLD GLVWLQWD \ JUDWLÂ´ FDQWH TXH ODV GHMD OLPSLDV VXDYHV FRPR OD VHGD \ FRQ XQ H[TXLVLWR DURPD

&RORQLD

1J =NKI= @AHE?EKOK OKHK L=N= PE

.AREP=HEV=JPA =NKI= BNQP=H @A @QN=VJKO BNAO=O U BN=I>QAO=O

'DOH XQ QXHYR UHVSLUR D WX GtD \ DQtPDWH FRQ HO UHYLWDOL]DQWH DURPD IUXWDO GH &RQVLpQWHWH (QHUJ\

(6(1&,$6 $520$6

z äIK AO MQA OEAILNA AOPbO HHAJ= @A AJANCß= /ACQNK QO=O KJOEÛJPAPA !JANCUÎÎÎ

&UHPD FRUSRUDO

&UHPD SDUD PDQRV

/D PHMRU PDQHUD GH FRQVHQWLU WX SLHO HQYROYLpQGROD HQ XQD SODFHQWHUD VHQVDFLyQ GH VXDYLGDG \ HQ XQ UHYLWDOL]DQWH DURPD

/DV GHMD VHGRVDV \ SURWHJLGDV GH OD UHVHTXHGDG \ FRQ XQ GHOLFLRVR SHUIXPH HQHUJL]DQWH

&216,e17(7( (1(5*< -DEyQ OtTXLGR SDUD HO FXHUSR PO IO R] &yG

9DORUL]DGR HQ

-DEyQ GH 0DQRV PO IO R] &yG

&RORQLD PO IO R] &yG

9DORUL]DGR HQ

&UHPD FRUSRUDO PO IO R] &yG

9DORUL]DGR HQ

&UHPD SDUD PDQRV PO IO R] &yG

{0äI=PA H= RE@= ?KJ ()=Î KJOEÛJPAPA PN=A QJ JQARK =NKI= L=N= MQA D=C=O QJ= L=QO= EANN= HKO KFKO U OEAJPA AH KHKN @A REKHAP=O U NKO=O AF= U= @A LAJO=N AJ P=JP=O ?KO=O U

OKHK @EOBNQP=

5HODMDQWH DURPD µ RUDO GH YLROHWD \ URVDV FRQ WRTXHV IUXWDOHV

(6(1&,$6 $520$6

18(92 +$67$

'( '(6&8(172

&RORQLD 'HOLFLRVR DURPD Âµ RUDO IUXWDO TXH WH UHFRQHFWD FRQ WX \R PiV SRVLWLYR

-DEyQ OtTXLGR SDUD PDQRV 'HMD WXV PDQRV OLPSLDV VXDYHV \ FRQ XQ H[TXLVLWR DURPD

/RFLyQ FRUSRUDO (QYXHOYH WX SLHO HQ XQD GHOLFLRVD VXDYLGDG \ FRQ XQ UHODMDQWH DURPD

)527$ $48Ã&#x20AC; < 6,(17( (/ $520$ (1 78 3,(/

&216,e17(7( &DOP &RORQLD PO IO R] &yG

9DORUL]DGR HQ

-DEyQ OtTXLGR SDUD PDQRV PO IO R]

/RFLyQ FRUSRUDO PO IO R]

&yG

9DORUL]DGR HQ

&yG

(O FROJDQWH WDPELpQ HV SUHQGHGRU

&2//$5(6 &ROODU 1DFDU &RQ EDxR GH SODWD \ SLH]DV GH QiFDU HQ FRORU FUHPD /DUJR UHJXODEOH D FP &yG

&ROODU 'HOLFDVVLD (Q EDxR SODWHDGR FRQ HVPDOWH WULFRORU \ FULVWDOHV /DUJR UHJXODEOH D FP 0HGLGDV GHO FROJDQWH [ FP

&ROODU 'LDPDQWL (Q EDxR SODWHDGR FRQ ILQRV FULVWDOHV JULVHV /DUJR UHJXODEOH D FP 0HGLGD DSUR[ GHO FROJDQWH [ FP

&ROODU $PD]]RQ (Q EDxR GH RUR FRQ GHWDOOHV GH SODWD SDYp \ FULVWDOHV /DUJR UHJXODEOH D FP

&yG

9DORUL]DGR HQ

18(675$ %,-287(5,( (6

/,%5( '( 3/202

&yG

'( $&&(625,26 +$67$

'( '(6&8(172

??AOKNEKO QJ OEJBßJ @A KL?EKJAO L=N= RANPA B=>QHKO=

3DUD QLxD

&ROODU 3HDUOV *ROG (Q EDxR GH RUR &RQ SHUODV SLH]DV UHGRQGDV EDxDGDV HQ RUR SDYp \ FULVWDOHV WUDQVO~FLGRV /DUJR UHJXODEOH D FP &yG

9DORUL]DGR HQ

&ROODU 0HORG\ SDUD QLxD (Q EDxR GH RUR \ SLHGUD IDFHWDGD WUDQVO~FLGD /DUJR FP &yG

9DORUL]DGR HQ

$&&(625,26 (67,/2

)(67,9$/

z*A?AOEP=O QJ ?KHH=N L=N= AOP= JK?DA z 1JKO HAJPAO L=N= AH BEJ @A OAI=J= -QÛ P=H QJKO =NKO MQA ?KI>EJAJ ?KJ HK MQA PEAJAO LQAOPK

*K >QOMQAO IbO ^OEG= PEAJA L=N= PE PK@KO AOKO =??AOKNEKO MQA P=JPK JA?AOEP=O {0A R=O = OKNLNAJ@AN ?KJ OQO JKRA@KOKO U HEJ@KO @EOAãKOÎ

+DVWD DJRWDU VWRFN

z)A RAO @EBANAJPA (= I=JAN= IbO Bb?EH @A HQ?EN QJ JQARK HKKG AO ?KJ QJ OEILHA ?=I>EK @A =NKO 0A RANbO @EOPEJP= ?=@= @ß= {!O AH =??AOKNEK EJ@EOLAJO=>HA @A PK@= IQFANÎ

$526 $URV ODUJRV &ULVWDOL (Q EDxR GRUDGR FRQ FULVWDOHV HQ WRQRV PRUDGRV /DUJR FP

&yG

9DORUL]DGR HQ

$URV ODUJRV 'HOLFDVVLD (Q EDxR SODWHDGR FRQ HVPDOWH WULFRORU \ FULVWDOHV &yG

9DORUL]DGR HQ

$URV ODUJRV 1DFDU (Q EDxR GH SODWD &yG

9DORUL]DGR HQ

18(675$ %,-287(5,( (6

/,%5( '( 3/202

$URV ODUJRV .DOLOD (Q EDxR SODWHDGR FRQ FULVWDOHV D]XO PRQWDQD &yG

9DORUL]DGR HQ

$URV $PD]]RQ (Q EDxR GH RUR FRQ GHWDOOHV GH SODWD SDYp \ FULVWDOHV

$URV ODUJRV /LEHOOD (Q EDxR SODWHDGR FRQ ILQRV FULVWDOHV PXOWLFRORU /DUJR DSUR[ FP

&yG

9DORUL]DGR HQ

$&&(625,26 (67,/2

)(67,9$/ '( $526

+$67$

'( '(6&8(172

$URV ODUJRV 5R\DO 5RVH (Q EDxR GH RUR FRQ SHUODV FRORU FUHPD &yG

$URV %ODFN 5RVH (Q EDxR GH SODWD FRQ HVPDOWH QHJUR FULVWDOHV WUDQVO~FLGRV \ PHGLD SHUOD

9DORUL]DGR HQ

&yG

+DVWD DJRWDU VWRFN

9DORUL]DGR HQ

{(=O MQEANK PK@=OÎ z(=O LQHOAN=O OKJ PQ @A>EHE@=@ ,NALbN=PA R=O = MQA@=N B=O?EJ=@= ?KJ AOPA BAOPER=H

3DUD pO

(6&/$9$ (VFODYD /DQ]R SDUD pO (Q DFHUR LQR[LGDEOH FRQ SLH]DV HQ EDxR GRUDGR /DUJR FP &yG

9DORUL]DGR HQ

18(675$ %,-287(5,( (6

/,%5( '( 3/202

$&&(625,26 (67,/2

)(67,9$/ '( $&&(625,26 +$67$

'( '(6&8(172

3DUD QLxD

38/6(5$6 3XOVHUD %ORVVRP (Q EDxR SODWHDGR FRQ SHUODV FRORU FUHPD /DUJR UHJXODEOH D FP

&yG

3XOVHUD 0HGHD &DGHQD HQ EDxR GH SODWD \ FXDWUR SLHGUDV GH FRORU D]XO /DUJR UHJXODEOH D FP

9DORUL]DGR HQ

&yG

+DVWD DJRWDU VWRFN

9DORUL]DGR HQ

3XOVHUD 0DWKLV (Q EDxR SODWHDGR FRQ ILQRV ODEUDGRV 'LVHxRV FDODGRV HQ IRUPD GH IORU /DUJR UHJXODEOH D FP

3XOVHUD 0HORG\ SDUD QLxD (Q EDxR GH RUR FRQ SLHGUD IDFHWDGD WUDQVO~FLGD 'H DUR UtJLGR

&yG

9DORUL]DGR HQ

&yG

9DORUL]DGR HQ

(AJPAO U NAHKFAO L=N= AHH= {(KO =??AOKNEKO MQA JK PA LQA@AJ B=HP=NÎ

5HORM /LEHOXV SDUD HOOD 'H FRORU EODQFR V~SHU FRPELQDEOH HQFDQWD SRU ORV GLVHxRV LPDJLQDWLYRV SODWHDGRV EULOODQWHV GHO GLDO /D FRUUHD HV GH FXHUR HVWLOR FRFRGULOR 5HVDOWD VX GLVHxR GH OLEpOXOD SODWHDGD &yG

9DORUL]DGR HQ

$&&(625,26 (67,/2

)(67,9$/ '( $&&(625,26 +$67$

'( '(6&8(172

3527(&&,Ã&#x201E;1 &2175$ /26 5$<26

5HORM =DPLUD SDUD HOOD &DMD PHWiOLFD \ GLDO EODQFR FRQ GLVHxR WLSR PDGUHSHUOD &RUUHD GH FXHUR JULV RVFXUR FRQ WH[WXUD GH VHUSLHQWH

/HQWHV )HOLQH &RQ PDUFR QHJUR \ GHWDOOH GH PHWDO QHJUR \ EODQFR HQ ORV EUD]RV &ULVWDOHV FRORU KXPR HQ GHJUDGp

&yG

9DORUL]DGR HQ

+DVWD DJRWDU VWRFN

7RGRV QXHVWURV OHQWHV YLHQHQ FRQ HVWXFKH

9DORUL]DGR HQ

7RGRV QXHVWURV UHORMHV FXHQWDQ FRQ JDUDQWtD GH PHVHV \ YLHQHQ HQ HVWXFKH

)(67,9$/ '( $&&(62526

1HJUR FRQ FULVWDOHV WUDQVO~FLGRV FRORU QHJUR

$]XO FRQ SLHGUD VXSHULRU FHQWUDO \ FULVWDOHV PiV SHTXHxRV DOUHGHGRU

'( '(6&8(172

$1,//26 $QLOOR 9DQJXDUG\ 7DOOD &yG 7DOOD &yG 7DOOD &yG 7DOOD &yG

9DORUL]DGR HQ

$QLOOR 6W\OLQJ 7DOOD &yG 7DOOD &yG 7DOOD &yG 7DOOD &yG

9DORUL]DGR HQ

$QLOOR 0DJQD 7DOOD &yG 7DOOD &yG 7DOOD &yG 7DOOD &yG

9DORUL]DGR HQ

9HU SUREDGRU HQ OD SiJ

+DVWD DJRWDU VWRFN

(Q EDxR GH SODWD FRQ SHUOD FUHPD

$&&(625,26 (67,/2

,ANBA?P= L=N= AO=O K?=OEKJAO AOLA?E=HAO &2/(&&,Ã&#x201E;1 /8;85< (VWXFKH GH FROODU \ DURV (Q EDxR GH RUR \ EDxR GH SODWD FRQ WH[WXUDV GH DOWD MR\HUtD \ ILQRV FULVWDOHV /DUJR UHJXODEOH GHO FROODU D FP (Q EDxR GH RUR &yG

(Q EDxR GH SODWD &yG

9DORUL]DGR HQ F X F X

$QLOOR (Q EDxR GH RUR 7DOOD &yG 7DOOD &yG 7DOOD &yG 7DOOD &yG

(Q EDxR GH SODWD 7DOOD &yG 7DOOD &yG 7DOOD &yG 7DOOD &yG 9HU SUREDGRU HQ OD SiJ

9DORUL]DGR HQ F X F X

(O FROJDQWH WDPELpQ HV SUHQGHGRU

/D]]R HV 8QD GHOLFDGD FROHFFLyQ HQ EDxR SODWHDGR FRQ KHUPRVRV FULVWDOHV GH FRORUHV \ Â´ QDV WH[WXUDV

0A RANbO AOLA?P=?QH=N *=@= ?KIK QJ= ?KHA??EÃ¤J DA?D= L=N= PE zJK

&2/(&&,Ã&#x201E;1 /$==2 &ROODU /DUJR UHJXODEOH D FP 0HGLGDV GHO FROJDQWH [ FP &yG

9DORUL]DGR HQ

3XOVHUD /DUJR UHJXODEOH D FP &yG

9DORUL]DGR HQ

$UJROODV /DUJR FP &yG

9DORUL]DGR HQ

$URV ODUJRV /DUJR [ FP &yG

9DORUL]DGR HQ

$&&(625,26 (67,/2

(Q EDxR GH SODWD FRQ Â´ QDV SHUODV \ SLHGUDV IDFHWDGDV GH FRORU JULV

&2/(&&,Ã&#x201E;1 0$*(67,& &ROODU /DUJR UHJXODEOH D FP 0HGLGDV GHO GLMH [ FP

$URV ODUJRV 0HGLGDV [ FP

&yG

9DORUL]DGR HQ

$URV /DUJR [ FP

3XOVHUD /DUJR UHJXODEOH D FP

&yG

9DORUL]DGR HQ

18(675$ %,-287(5,( (6

/,%5( '( 3/202

18(9$ &2/(&&,Ã&#x201E;1 '-$1,5$ &ROODU /DUJR UHJXODEOH D FP &yG

9DORUL]DGR HQ

$URV ODUJRV /DUJR [ FP &yG

9DORUL]DGR HQ

3XOVHUD /DUJR UHJXODEOH D FP &yG

9DORUL]DGR HQ

352%$'25 '( $1,//26 &RORFD XQR GH WXV DQLOORV KDVWD TXH YHDV HO FtUFXOR FRPSOHWR GHQWUR GH pO (VD HV WX WDOOD

(Q EDxR SODWHDGR FRQ SLHGUDV \ SHUODV JULVHV

3$5$ e/

'( '(6&8(172

3$5$ (//$

78 2)(57$ (675(//$

18(92 (VWXFKH 2FHDQV ,QFOX\H SDUHV GH DURV &yG

9DORUL]DGR HQ

{(EJ@= PK@= H= OAI=J=Î

L=NAO @A =NKO @ß=O MQA PA RANbO LNA?EKO= ?KJ AH JQARK AOPQ?DA +?A=JO

(Q EDxR GH RUR \ SODWD FRQ SLHGUDV HVPDOWHV \ FULVWDOHV

18(675$ %,-287(5,( (6

/,%5( '( 3/202

'( '(6&8(172 (1 (678&+( '( &2//$5 < $526

(Q EDxR SODWHDGR FRQ SLHGUDV \ HVPDOWH D]XO

(VWXFKH 0DGDP ,QFOX\H SDUHV GH DURV &yG

9DORUL]DGR HQ

&XDWUR DUHWHV HQ EDxR GH SODWD \ RUR

&2/(&&,Ã&#x201E;1 '848(6$

18(92

(VWXFKH GH FROODU \ DURV /DUJR UHJXODEOH GHO FROODU D FP

18(926

&yG

9DORUL]DGR HQ

$URV ODUJRV /DUJR [ FP

3XOVHUD /DUJR UHJXODEOH D FP &yG

9DORUL]DGR HQ

18(675$ %,-287(5,( (6

/,%5( '( 3/202

35202&,Ã&#x201E;1 (VWXFKH =HQVDWLRQ D VROR

&yG

SRU OD FRPSUD GH XQ SURGXFWR GHO FDWiORJR

18(92 (VWXFKH =HQVDWLRQ ,QFOX\H FROODU \ DURV /DUJR UHJXODEOH GHO FROODU D FP 0HGLGDV GHO FROJDQWH [ FP 9DORUL]DGR HQ

(Q EDxR SODWHDGR FRQ HVPDOWH FRORU URMR \ SLHGUD

Â&#x203A;8VD HO FROJDQWH GH IRUPDV GLVWLQWDV

3URPRFLyQ YiOLGD KDVWD DJRWDU VWRFN

48e 7(;785$ (6 /$ 0(-25 3$5$ 7," 'HOLFLRVD \ VHQVRULDO ORFLyQ

'HOLFDGR JHO

%LIiVLFR \ HIHFWLYR

5HVWDEOHFH OD SXUH]D VXDYLGDG \ IUHVFXUD GH WX URVWUR VLQ LUULWDU OD SLHO 6H SXHGH XVDU HQ WRGR WLSR GH FXWLV LQFOXVR HO PiV VHQVLEOH

'HVPDTXtLOOD WX URVWUR VLQ PDOWUDWDU OD EHOOH]D GH WX SLHO FXLGDQGR \ SURWHJLHQGR OD GHOLFDGD ]RQD GH ORV ODELRV \ HO FRQWRUQR GH RMRV

6X IDVH ROHRVD UHWLUD KDVWD HO PDTXLOODMH D SUXHED GH DJXD \ GH ODUJD GXUDFLyQ VX IDVH DFXRVD HOLPLQD ODV LPSXUH]DV GH WX SLHO

&$%(//2 3,(/

/EAJPA H= =??E채J @A HKO IAFKNAO EJCNA@EAJPAO J=PQN=HAO AJ PQ LEAH

+25$6

GH KLGUDWDFLyQ

HKA U >=NNK .E?K AJ IEJAN=HAO AH >=NNK AOPEIQH= H= ?EN?QH=?EÃ¤J U =>OKN>A H=O EILQNAV=O IEAJPN=O MQA AH =HKA ?KJ QJ Ã&#x2019; @A =CQ= PEAJA QJ LK@AN PAN=LÃ&#x203A;QPE?K OKNLNAJ@AJPA

SURPRFLyQ FUHPD WULSOH DFFLyQ MXYHQWXG \ OLPSLDGRUD SiJ

!OP= I=O?=NEHH= @A =HKA U >=NNK Oß MQA AO DE@N=P=?EäJ EJIA@E=P=

78 2)(57$ (675(//$

-QÛ PATPQN= P=J NABNAO?=JPA

AOP= I=O?=NEHH= @AF= IE LEAH OéLAN DE@N=P=@= U IQU OQ=RA {U AJ OKHK IEJQPKOÎ

+XPHFWD \ VXDYL]D OD SLHO GHO URVWUR GH IRUPD LQPHGLDWD FRQ EDUUR RUJiQLFR \ DORH

0DVFDULOOD IDFLDO KLGUDWDFLyQ LQPHGLDWD J R] &yG

9DORUL]DGR HQ

720$ 127$ (Q SRFRV PLQXWRV \ DVt GH IiFLO 3DVR $SOLFD XQD FDSD VREUH HO URVWUR OLPSLR \ GpMDOD VHFDU HQWUH \ PLQXWRV 3DVR (QMXDJD FRQ DJXD WLELD 6LHQWH FyPR WRGD WX SLHO TXHGD V~SHU VXDYH H KLGUDWDGD

HAF= HKO OECJKO @A H= A@=@ .AJ=?AN %JPAJOERK =UQ@= = PQ LEAH

)LUP $FWLRQ &UHPD IDFLDO UHDILUPDQWH J R] &yG

9DORUL]DGR HQ

%ODQF 5DGLDQFH 7UDWDPLHQWR DFODUDGRU IDFLDO HQ FUHPD J R] &yG

9DORUL]DGR HQ

'LVPLQX\H OD DSDULHQFLD GH PDQFKDV \ DFODUD WX SLHO &RQ D]~FDUHV WHQVRUHV GH DYHQD GH HIHFWR LQPHGLDWR

&RQ H[WUDFWR GH Âµ RU GH KLELVFR D\XGD D FRPEDWLU OD Âµ DFLGH]

5HDÂ´ UPD OD SLHO GH WX URVWUR

3UXHED LQ YLWUR UHDOL]DGD VREUH ORV FRPSRQHQWHV GH )LEUDVLO 7HFKQRORJ\ 5HVXOWDGRV REWHQLGRV HQ SUXHEDV FOtQLFDV UHDOL]DGDV FRQ PXMHUHV HQWUH \ DxRV SRU ODERUDWRULRV &ODLP GH $UJHQWLQD 3UXHED LQ YLWUR GH FRPSRQHQWH GHO DFWLYR

SURPRFLyQ FUHPD WULSOH DFFLyQ MXYHQWXG \ OLPSLDGRUD SiJ

&RQ H[WUDFWR GH OLULR HQULTXHFLGR TXH GLVPLQX\H OD SURGXFFLyQ GH PHODQLQD \ SHUPLWH OD UHQRYDFLyQ FHOXODU

&$%(//2 3,(/

!OPK AO IbO MQA QJ= I=O?=NEHH= /KJ =??EKJAO MQA NAJQAR=J H= LEAH @A PQ NKOPNK ?KILHAP=IAJPA

%(1(),&,26 '( 78 0$6&$5,//$ (;)2/,$17(

.A@Q?A H= =L=NEAJ?E= @A LQJPKO JACNKO )EJEIEV= H= =L=NEAJ?E= @A LKNKO =>EANPKO UQ@= = NAIKRAN ?Ã&#x203A;HQH=O IQANP=O .A@Q?A AH >NEHHK $QIA?P= /Q=REV=

75,3/( $&&,Ã&#x201E;1 0$; 0DVFDULOOD H[IROLDQWH IDFLDO PXOWLEHQHILFLRV J R] &yG

9DORUL]DGR HQ

0K@K HK MQA PQ LEAH MQEANA AJ QJ= OKH= ?NAI= KJ OQO >AJABE?EKO 0NELHA ??EÃ¤J )=T AO H= =UQ@= IbO ?KILHAP= L=N= RAJ?AN =H PEAILK

%(1(),&,26 '( 78 &5(0$ 3$5$ &2172512 '( 2-26

EOIEJQUA H= =L=NEAJ?E= @A =NNQC=O EOIEJQUA H= =L=NEAJ?E= @A KFAN=O EOIEJQUA H= =L=NEAJ?E= @A >KHO=O BENI= AH ?KJPKNJK @A HKO KFKO UQ@= = LNKPACAN PQ LEAH @AH IA@EK =I>EAJPA /Q=REV= H= LEAH

%(1(),&,26 '( 78 &5(0$ '( %(//(=$

(EILE= $QIA?P= 0KJEBE?= .ABNAO?= /Q=REV= ,NKPACA

75,3/( $&&,Ã&#x201E;1 0$; &UHPD IDFLDO GH EHOOH]D OLPSLDGRUD J R]

&UHPD SDUD HO FRQWRUQR GH RMRV J R]

&yG

9DORUL]DGR HQ

SURPRFLyQ FUHPD WULSOH DFFLyQ MXYHQWXG \ OLPSLDGRUD SiJ

PAJé= H= =L=NEAJ?E= @A =NNQC=O ?H=N= AH PKJK @A H= LEAH .A=BENI= *QPNA /Q=REV= ,NKPACA

&$%(//2 3,(/

%(1(),&,26 '( 78 &5(0$ -89(178'

DxRV FXLGDQGR WX URVWUR

7ULSOH $FFLyQ IXH ODQ]DGD HQ 3HU~ HQ SRU %HOFRUS

/AN >AHH= AO PQ IAFKN AHA??EäJ

&UHPD IDFLDO GH MXYHQWXG QXWULWLYD J R] &yG

9DORUL]DGR HQ

NAI=O HK?EKJAO OD=ILKKO D=U IQ?DKO O=>AN ?QbH AO AH MQA IAFKN HA D=Nb = PQ LEAH = PQ ?=>AHHK K = PQ B=IEHE= AO PQ @A?EOEäJ MQA @A>A AOP=N >EAJ EJBKNI=@= ^OEG= PA KBNA?A =MQß OQO IAFKNAO ?KJOAFKO U NA?KIAJ@=?EKJAO L=N= MQA PA IQAOPNAO >AHH= L=N= MQA RER=O ?KJ O=PEOB=??EäJ

!J H= >=P=HH= ?KJPN= AH PEAILK D=U AOLAN=JV= 0NELHA ??E채J )=T AO PQ IAFKN =HE=@K MQA PA KBNA?A >AJABE?EKO L=N= AH NKOPNK AJ ?=@= ?NAI=

%(1(),&,26 '( 78 &5(0$ '( %(//(=$

.AOQHP=@KO ?KILNK>=@KO

GH ODV PXMHUHV VLQWLy OD SLHO PiV KXPHFWDGD GH ODV PXMHUHV VLQWLy PHQRV LPSXUH]DV HQ OD SLHO

35202&,Ã&#x201E;1

&UHPD GH %HOOH]D &yG D VROR &UHPD GH -XYHQWXG &yG D VROR 3RU OD FRPSUD GH XQ SURGXFWR GH OD SiJ D OD

%(1(),&,26 '( 78 &5(0$ '( -89(178'

.AOQHP=@KO ?KILNK>=@KO

GH ODV PXMHUHV VLQWLy PHMRUtD HQ OD DSDULHQFLD GH DUUXJDV GH ODV PXMHUHV SHUFLELy VX SLHO PiV FODUD

0Q LEAH PEAJA =JPKFK @A =HCK BNAO?K U J=PQN=H

/,752

AHE?EKO=O HK?EKJAO ?KNLKN=HAO MQA @AF=J PQ LEAH OQ=RA U ?KJ QJ ATMQEOEPK =NKI= BNQP=H

'( '(6&8(172

+LGUDWD \ VXDYL]D OD SLHO &RQ UHIUHVFDQWH DURPD GH Âµ RU GH QDUDQMR \ OLWFKL

1$785$/ &$5( )ORU GH 1DUDQMR /LWFKL /RFLyQ KXPHFWDQWH FRUSRUDO OLWUR IO R] &yG

'XUD]QR $oDt /RFLyQ KXPHFWDQWH FRUSRUDO OLWUR IO R] &yG

9DLQLOOD -D]PtQ /RFLyQ KXPHFWDQWH FRUSRUDO OLWUR IO R] &yG

9DORUL]DGR HQ F X F X

SURPRFLyQ FUHPD WULSOH DFFLyQ MXYHQWXG \ OLPSLDGRUD SiJ

6XDYL]D \ UHYLWDOL]D OD SLHO &RQ GHOLFLRVR DURPD GH GXUD]QR \ DoDt

&$%(//2 3,(/

/,752

6XDYL]D \ KXPHFWD OD SLHO &RQ UHODMDQWH DURPD GH YDLQLOOD \ MD]PtQ

z1J >=ãK @A HA?DA L=N= PQ LEAH /Q=RE@=@ L=N= PE U PQ B=IEHE=

08/7,&5(0 0LON /RFLyQ FRUSRUDO KXPHFWDQWH OLWUR IO R] &yG

9DORUL]DGR HQ

0A R= = CQOP=N LKNMQA $E@N=P= U OQ=REV= PQ LEAH LKN DKN=O !O E@A=H L=N= PK@= H= B=IEHE=

0EAJA LNKPAßJ=O @A HA?DA

(YDOXDFLyQ UHDOL]DGD HQ /DERUDWRULRV %HOFRUS FRQ KRPEUHV \ PXMHUHV HQWUH ORV D DxRV \ D DxRV \ HQ /DERUDWRULRV &ODLP GH $UJHQWLQD FRQ QLxRV HQWUH ORV D DxRV

SURPRFLyQ FUHPD WULSOH DFFLyQ MXYHQWXG \ OLPSLDGRUD SiJ

/,752

0K@K HK MQA JA?AOEP= PQ LEAH AJ QJ= OKH= HK?EÃ¤J ?KNLKN=H

&$%(//2 3,(/

zK H= ?=NE?E= @A LÃ&#x203A;P=HKO @A NKO=

'( '(6&8(172

/,752

%(1(),&,26 3$5$ (/ &8(532

0A R= = CQOP=N LKNMQA $QIA?P= JQPNA U NAREP=HEV= PQ LEAH (A @ARQAHRA H= Â&#x2DC; NIAV= 5 H= LNKPACA @AH IA@EK =I>EAJPA

$QIA?P= *QPNA .AREP=HEV= /Q=REV= ARQAHRA H= BENIAV= UQ@= = LNKPACAN @AH IA@EK =I>EAJPA 75,3/( $&&,Ã&#x201E;1 0$; /RFLyQ GH EHOOH]D SDUD HO FXHUSR OLWUR IO R] &yG

9DORUL]DGR HQ

(= LEAH ATPN= OA?= AO ?KO= @AH L=O=@K )QHPE?NAI *QPNEAJPO >NEJ@= IbTEI= DE@N=P=?EÃ¤J L=N= @AF=N PQ LEAH NA=HIAJPA OQ=RA

/,752

08/7,&5(0 1XWULHQWV /RFLyQ FRUSRUDO QXWULWLYD OLWUR IO R] &yG

9DORUL]DGR HQ

0i[LPD KLGUDWDFLyQ UHYLWDOL]D SURWHJH \ VXDYL]D OD SLHO H[WUD VHFD

0LHO DSRUWD KLGUDWDFLyQ GH PDQHUD QDWXUDO

*HUPHQ GH WULJR QXWUH \ UHYLWDOL]D OD SLHO

$YHQD FRQ QXWULHQWHV HVHQFLDOHV SDUD OD SLHO

SURPRFLyQ FUHPD WULSOH DFFLyQ MXYHQWXG \ OLPSLDGRUD SiJ

EHA =@EÃ¤O = H= LEAH @A J=N=JF=

&$%(//2 3,(/

MQ=HKPEKJ PA =UQ@= = AHEIEJ=N H=O EILANBA?EKJAO @A PQ LEAH

'( '(6&8(172

/,752

$48$/27,21 3LHO /LVD /RFLyQ FRUSRUDO H[WUD KXPHFWDQWH OLWUR IO R] &yG

9DORUL]DGR HQ

0A R= = CQOP=N LKNMQA UQ@= = =HEO=N PQ LEAH

$E@N=P= PQ LEAH

0EAJA ATPN=?PK @A ?KN=H U =HC=O I=NEJ=O

&RQ URGLOORV PDVDMHDGRUHV

)ßN=PA =H AOLAFK U OKJNßAÎ

K@U ,ANBA?PEKJ PA =UQ@= = IK@AH=N PQ BECQN=

/¤ K /¤

%2'< 3(5)(&7,21

1PEHEV= H=O ?NAI= HQACK @AH >=ãK @E=NEK PQO LKNKO =éJ AOP=NbJ =>EANPKO U =>KOKN>ANbJ IAFKN AH PN=P=IEAJPK

/LSR (IIHFW 0DVVDJHU &UHPD JHO FRUSRUDO PDVDMHDGRU PO IO R] &yG

9DORUL]DGR HQ

SURPRFLyQ FUHPD WULSOH DFFLyQ MXYHQWXG \ OLPSLDGRUD SiJ

)K@AH= PQ OEHQAP= UQ@= = NA@Q?EN HKO @ALäOEPKO @A CN=O= @A H= LEAH

&$%(//2 3,(/

(VIHUDV TXH D\XGDQ D PDVDMHDU OD SLHO

*5$7,6 'HSLODFWLYH SRU OD FRPSUD GH XQ SURGXFWR GH OD OtQHD 9DORUL]DGR HQ

EHA =@EäO = HKO RAHHKO U HQ?A QJ=O LEANJ=O HEJ@=O U OQ=RAO

3UiFWLFD HVSiWXOD SDUD XQD PHMRU DSOLFDFLyQ

'XDOLVV *HO DOLVDGRU GH HVWUtDV \ SLHO GH QDUDQMD PO IO R] &yG

9DORUL]DGR HQ

HEO= H= LEAH @A J=N=JF= UQ@= = NA@Q?EN H=O AOPNß=O

'HSLODFWLYH &UHPD GHSLODWRULD J R] 9DORUL]DGR HQ

!HEIEJ= HKO RAHHKO .AP=N@= OQ ?NA?EIEAJPK AF= PQO LEANJ=O OQ=RAO

)bTEI= LNKPA??EÃ¤J ?KJ PQO =NKI=O B=RKNEPKO

AOK@KN=JPAO L=N= PE U L=N= Ã&#x203A;H MQA PA LNKPACAJ @A H= PN=JOLEN=?EÃ¤J U AH I=H KHKN

3DUD HOOD

&yG

8QLVH[

&yG

SURPRFLyQ FUHPD WULSOH DFFLyQ MXYHQWXG \ OLPSLDGRUD SiJ

&yG

&$%(//2 3,(/

'( '(6&8(172

3DUD pO

,NKPACAJ @AH 'HVRGRUDQWHV UROO RQ PO IO R] I=H KHKN 9DORUL]DGR HQ F X %JPAJOEBE?=J F X AH =NKI= @A PQ BN=C=J?E= B=RKNEP= &yG

&yG

&yG &yG

&yG

DKN=O @A BNAO?QN= AJ QJ OKHK POOOO

0KP=H /A? AJ OLN=U L=N= QJ OA?=@K QHPN=NbLE@K

18(92 AOK@KN=JPA JPEPN=JOLEN=JPA @A IbTEI= LNKPA??EäJ

KJ ATPN=?PK @A DKF=O @A >=I>é E@A=H L=N= LEAH OAJOE>HA

/A?= NbLE@=IAJPA U JK I=J?D= H= NKL=

727$/ 6(& 'HVRGRUDQWH VSUD\ SDUD HOOD PO IO R] &yG

9DORUL]DGR HQ

'HVRGRUDQWH VSUD\ XQLVH[ PO IO R] &yG

0XMHU &RQ GHOLFDGR DURPD µ RUDO

9DORUL]DGR HQ

SURPRFLyQ FUHPD WULSOH DFFLyQ MXYHQWXG \ OLPSLDGRUD SiJ

8QLVH[ &RQ IUDJDQFLD QHXWUD

&$%(//2 3,(/

$KU MQEANK IE LEAH BNAO?= U OQ=RA 0=H?KO MQA @AF=J PQ LEAH OQ=RA BNAO?= U ?KJ @AHE?EKOK =NKI=

3DUD HOOD

.ABNAO?=J H= LEAH (= LANBQI=J ?KJ PQ BN=C=J?E= LNABANE@= 7DOFRV SHUIXPDGRV J R] 9DORUL]DGRV HQ F X F X

&yG

3DUD pO

&yG

,EAO DANIKOKO = ?=@= L=OK !J?QAJPN= =MQß PK@K HK MQA JA?AOEP=O L=N= MQA PQO LEAO OA RA=J HEJ@KO U OA OEAJP=J IAFKN

6XDYL]D \ UHIUHVFD &RQ H[WUDFWR GH RUTXtGHD ODYDQGD \ PHQWRO

'( '(6&8(172

(OLPLQD LPSXUH]DV \ FpOXODV PXHUWDV &RQ FiVFDUD GH QXH] SLHGUD SyPH] \ PHQWRO

(OLPLQD FDOORV \ DVSHUH]DV &RQ H[WUDFWR GH DYHQD iFLGR VDOLFtOLFR \ PHQWRO

/À1($ 3$5$ 3,(6 &UHPD H[IROLDQWH SDUD SLHV J R]

&UHPD KXPHFWDQWH J R]

&yG

9DORUL]DGR HQ

SURPRFLyQ FUHPD WULSOH DFFLyQ MXYHQWXG \ OLPSLDGRUD SiJ

&UHPD SDUD SLHV FRQ DVSHUH]DV \ FDOORVLGDGHV J R] &yG

9DORUL]DGR HQ

&$%(//2 3,(/

J 1J= ?EP= ?KJPECK IEOI= QE@= PQO LEAO AILEAV= @bJ@KHAO QJ OQ=RA I=O=FA ?KJ ?NAI= ATBKHE=JPA

!JFQ=C=HKO U OÛ?=HKO OQ=RAIAJPA

KHä?=HAO QJ LK?K @A ?NAI= DQIA?P=JPA U MQA@=NbJ {IbO OQ=RAO MQA JQJ?=Î !H PKMQA J=H =LHß?=HAO P=H?K =Oß HKO OAJPENbO BNAO?KO PK@K AH @ß=

7DOFR SDUD SLHV J R] &yG

9DORUL]DGR HQ

/¤ K /¤

,=N= RAN QJ ?=>AHHK O=JK HK IAFKN AO H=R=NOA H= ?=>AV= ?KJ =CQ= PE>E= U @=NOA QJ AJFQ=CQA BNßK 0A =UQ@=Nb = OAHH=N H=O DA>N=O ?=LEH=NAO

{(= I=CE= AOPb AJ IE ?=>AHHKÎ KJ 2EP=H HEILEK IE ?=>AHHK HK ?QE@K U =DKNNK PEAILK

&$%(//2 3,(/

/LPSLD \ DFRQGLFLRQD D OD YH] HO FDEHOOR GH WRGD OD IDPLOLD

&RPEDWH OD FDVSD SDUD XQD DSDULHQFLD VDOXGDEOH

/,752

9,7$/ 'XDFWLRQ HQ 6KDPSRR DFRQGLFLRQDGRU OLWUR IO R] &yG

9DORUL]DGR HQ

&DVSD &RQWURO HQ 6KDPSRR DFRQGLFLRQDGRU PO IO R] &yG

9DORUL]DGR HQ

81 6+$0322 $&21',&,21$'25 12 62/2 7( $+255$ 7,(032 9,7$/ '8$&7,21

9,7$/ &$63$ &21752/

/LPSLD \ DFRQGLFLRQD D OD YH] GHMDQGR WX FDEHOOR PX\ VXDYH &RQ +LGURVRIW 6\VWHP TXH WH RIUHFH KLGUDWDFLyQ HIHFWLYD \ UiSLGD

&RPEDWH OD FDVSD FRQ 3LULWLRQDWR GH =LQF FXLGD \ SURWHJH OD VDOXG GH WX FDEHOOR FRQ DORH

1RUPDO

HQ 7RGR WLSR GH FDEHOOR $XPHQWD HO EULOOR FRQ DOPHQGUDV \ IRUWDOHFH OD ´ EUD FDSLODU FRQ JHUPHQ GH WULJR

&DEHOOR 1RUPDO )RUWDOHFH OD ´ EUD FDSLODU FRQ DYHQD \ OH GD VXDYLGDG \ YLGD FRQ PLHO

/,752

(= J=PQN=HAV= AO LANBA?P= ,=N= IKOPN=N QJ ?=>AHHK HEJ@K ?KJ HKO IAFKNAO EJCNA@EAJPAO J=PQN=HAO

SURPRFLyQ FUHPD WULSOH DFFLyQ MXYHQWXG \ OLPSLDGRUD SiJ

6HFR

*UDVR

&DEHOOR 6HFR 6XDYL]D \ DFRQGLFLRQD FRQ DFHLWH GH FRFR KXPHFWD \ GHMD GyFLO HO FDEHOOR FRQ DJXDFDWH

&DEHOOR *UDVR &RQWUROD HO QLYHO GH JUDVD FRQ OLPyQ \ UHIUHVFD FRQ ViELOD

/,752

$/9,(172 6KDPSRR DFRQGLFLRQDGRU OLWUR IO R] &yG

9DORUL]DGR HQ

6KDPSRR FDEHOOR QRUPDO OLWUR IO R] &yG

9DORUL]DGR HQ

6KDPSRR FDEHOOR VHFR OLWUR IO R] &yG

9DORUL]DGR HQ

6KDPSRR FDEHOOR JUDVR OLWUR IO R] &yG

9DORUL]DGR HQ

.EVKO RA?AO IbO @AÂ&#x2DC; JE@KO UQ@= = @AÂ&#x2DC; JEN PQO NEVKO U NA@Q?A AH BNEVV ,NKPACA PQ ?=>AHHK U HK I=JPEAJA ?KJ AOA IKREIEAJPK J=PQN=H MQA OEAILNA MQEOEOPA

/22. &$5( 5L]R ([WUHPR &UHPD SDUD SHLQDU PO IO R] &yG

9DORUL]DGR HQ

6KDPSRR HVSHFLDOL]DGR PO IO R] &yG

9DORUL]DGR HQ

$FRQGLFLRQDGRU HVSHFLDOL]DGR PO IO R] &yG

9DORUL]DGR HQ

SURPRFLyQ FUHPD WULSOH DFFLyQ MXYHQWXG \ OLPSLDGRUD SiJ

=HA OQ IAFKN =L=NEAJ?E= OEJ O=HEN @A ?=O=

RA?AO IbO HEOK

&$%(//2 3,(/

0Q ?=>AHHK OA RA IAFKN MQA JQJ?=

HEJA= H=O DA>N=O @A PQ ?=>AHHK L=N= =QIAJP=N OQ HEOK J=PQN=H ,NKPACA AH ?=>AHHK @A HKO @=Ã£KO ?=QO=@KO LKN H=O LH=J?D=O

/LVR $EVROXWR &UHPD SDUD SHLQDU PO IO R] &yG

9DORUL]DGR HQ

6KDPSRR HVSHFLDOL]DGR PO IO R] &yG

9DORUL]DGR HQ

$FRQGLFLRQDGRU HVSHFLDOL]DGR PO IO R] &yG

9DORUL]DGR HQ

5HVXOWDGRV REWHQLGRV HQ ODERUDWRULR VREUH FDEHOOR QDWXUDO DSOLFDQGR OD UXWLQD FRPSOHWD /RRN &DUH YV VKDPSRR VLQ DJHQWHV DFRQGLFLRQDGRUHV

.AL=N=?EäJ ,NKBQJ@= .AL=N= AH ?=>AHHK @=ã=@K LKN AH QOK @A LH=J?D= OA?=@KN= PEJPAO U @A?KHKN=JPAO ,NAREAJA H= ?=ß@= @AH ?=>AHHK LKN MQEA>NA

/22. &$5( 5HSDUDFLyQ ([WUHPD 6KDPSRR HVSHFLDOL]DGR PO IO R] &yG

9DORUL]DGR HQ

$FRQGLFLRQDGRU HVSHFLDOL]DGR PO IO R] &yG

9DORUL]DGR HQ

5HVXOWDGRV REWHQLGRV HQ ODERUDWRULR VREUH FDEHOOR QDWXUDO DSOLFDQGR OD UXWLQD FRPSOHWD /RRN &DUH YV VKDPSRR VLQ DJHQWHV DFRQGLFLRQDGRUHV

SURPRFLyQ FUHPD WULSOH DFFLyQ MXYHQWXG \ OLPSLDGRUD SiJ

&$%(//2 3,(/

-QÃ&#x203A; >QAJK AO HQ?EN QJ ?=>AHHK O=HQ@=>HA .AL=N= PQ ?=>AHHK L=N= MQA AH QOK @A LH=J?D=O OA?=@KN=O U PEJPAO JK @AFAJ DQAHH=

5HVWDXUD WX FDEHOOR GHO GDxR SURYRFDGRV SRU TXtPLFRV VHFDGRUD SODQFKD \ WLQWHV

3DUD WRGR WLSR GH FDEHOOR 5HVWDXUD ODV SXQWDV SDUWLGDV \ ODV VHOOD 3URWHJH WX FDEHOOR GH ORV HIHFWRV GHO VRO

0DVFDULOOD GREOH UHSDUDFLyQ QRFWXUQD PO IO R] &yG

9DORUL]DGR HQ

/RFLyQ UHVWDXUDGRUD GH SXQWDV PO IO R] &yG

9DORUL]DGR HQ

0A R= = CQOP=N LKNMQA /KJ AH ?KILHAIAJPK LANBA?PK L=N= I=JPAJAN PQ ?=>AHHK ?KJ QJ= =L=NEAJ?E= O=HQ@=>HA

(KO LQA@AO =LHE?=N AJ PK@K PELK @A ?=>AHHK

/KJ IQU Bb?EHAO @A QO=N

Qß@=HK ?KJ HK IAFKN Cé ,KNMQA PEAJA PNAO HßJA=O AOLA?E=HEV=@=O ?KJ PK@K HK MQA PQ >A>Û JA?AOEP= @AO@A OQ J=?EIEAJPK z5= O=>AO ?QbH AO H= IbO =@A?Q=@= L=N= ?=@= A@=@ U ?=@= JA?AOE@=@ @A PQ >A>Û MQß PA HK ATLHE?=IKO

Cé )bTEIK QE@=@K .A?EÛJ J=?E@KO (K ?QE@= @AO@A MQA J=?A D=OP= HKO IAOAO ?KJ EJCNA@EAJPAO J=PQN=HAO OEJ =H?KDKH {U OEJ ENNEP=N OQO HEJ@KO KFEPKOÎ GH D PHVHV

Cé =>U KIBKNP .AH=F= = PQ >A>Û /QO @AHE?=@=O JKP=O @A F=VIßJ I=JV=JEHH= U ?=JAH= HA @=J QJ= OAJO=?EäJ @A ?KJBKNP U >EAJAOP=N *K PEAJA =H?KDKH JE ?KHKN=JPAO =NPEBE?E=HAO

GH D PHVHV

Cé ,=N= AH ?QE@=@K @E=NEK /KJ LNK@Q?PKO ?KJ EJCNA@EAJPAO OQ=RAO U @AHE?EKOKO =NKI=O L=N= IEI=NHK U ?NA=N AOA H=VK P=J AOLA?E=H AJPNA I=Ib A DEFK { AO?é>NAHKOÎ GH D PHVHV

SURPRFLyQ 2UJDQL]DGRU /LWWOH EDE\ SiJ

%DE\ &RPIRUW &RORQLD OLWUR IO R]

6KDPSRR FDEHOOR \ FXHUSR OLWUR IO R]

&yG

9DORUL]DGR HQ

7DOFR J R]

'H PO IO R]

&yG

9DORUL]DGR HQ

&RORQLD 7LHUQR DURPD Âµ RUDO FRQ QRWDV GH MD]PtQ \ YDLQLOOD TXH OR UHIUHVFD \ OR UHODMD

/RFLyQ KLGUDWDQWH SDUD PDVDMHV PO IO R] &yG

9DORUL]DGR HQ

&yG

7DOFR 3URWHJH VX SLHO FRQ IpFXODV GH PDt] DORH PDQ]DQLOOD Âµ RUHV GH D]DKDU \ FDQHOD

/,752

6KDPSRR 8Q VROR SURGXFWR TXH FXLGD VX FDEHOOR \ SLHO LGHDO SDUD HO EDxR DQWHV GH GRUPLU

/,752

/RFLyQ 'HOLFDGD FDULFLD TXH VXDYL]D VX SLHO \ OR D\XGD D GRUPLU SURIXQGDPHQWH

1,f26 %(%e6

$*Ã&#x2021;

)II I=JV=JEHH=

,=N= MQA OQ ?=>AHHK ?H=NK >NEHHA ?KJ HEJ@KO NABHAFKO U ÛH DQAH= @AHE?EKOK PK@K AH @ß=

SURPRFLyQ 2UJDQL]DGRU /LWWOH EDE\ SiJ

6KDPSRR FRQ PDQ]DQLOOD \ DFHLWHV GH DOJRGyQ OLWUR IO R]

'H PO IO R]

&yG

9DORUL]DGR HQ

&yG

9DORUL]DGR HQ

&RORQLD FRQ IORUHV GH PDQ]DQLOOD OLWUR IO R]

'H PO IO R]

&yG

9DORUL]DGR HQ

1,f26 %(%e6

$*Ã&#x2021; &yG

9DORUL]DGR HQ

&RORQLD 7LHUQR DURPD FRQ Âµ RUHV GH PDQ]DQLOOD TXH OR GHMDUi IUHVFR \ UHODMDGR

6KDPSRR /H GDUi D VX FDEHOOR FODUR EULOOR \ VXDYLGDG

/,752

/D PDQ]DQLOOD OR UHODMD \ OH GD EULOOR D VX FDEHOOR FODUR

/Â¤ K /Â¤

GH D PHVHV

(= I=JV=JEHH= =UQ@= = LNARAJEN H= ENNEP=?EÃ¤J @A OQ ?QANK ?=>AHHQ@K IEAJPN=O MQA AH =?AEPA @A =HCK@Ã¤J =UQ@= = DQIA?P=N OQ ?=>AHHK U @=NHA OQ=RE@=@

$*Ã&#x2021; &RORQLD IUHVFD OLWUR IO R]

&RORQLD IUHVFD PO IO R]

6KDPSRR FRQ PLHO \ WULJR OLWUR IO R]

6KDPSRR FRQ PLHO \ WULJR PO IO R]

&yG

9DORUL]DGR HQ

/,752

/,752 /D PLHO GH DEHMD \ HO WULJR OLPSLDQ \ FXLGDQ VX SLHO

6KDPSRR &RQ HVHQFLDV GH PLHO \ WULJR SDUD TXH WHQJD HO FDEHOOR PiV IXHUWH \ VDQR

&RORQLD 6XDYH DURPD FtWULFR TXH OR UHIUHVFD D WRGD KRUD

GH D PHVHV

SURPRFLyQ 2UJDQL]DGRU /LWWOH EDE\ SiJ

1,f26 %(%e6

"NAOMQEPK U ?KJPAJPK Oß OA OEAJPA PQ >A>Û ?Q=J@K HK ?QE@=O ?KJ H= PANJQN= @A Cé

/¤ K /¤ (= IEAH @A =>AF= AO E@A=H L=N= DQIA?P=N AH ?=>AHHK @AHE?=@K @A PQ >A>Û IEAJPN=O MQA AH PNECK =UQ@= = @=NHA OQ=RE@=@ U BQANV=

*=?A PQ >A>Û *=?A AH IAFKN ?QE@=@K QE@= OQ LEAH ?KJ H= HßJA= AOLA?E=HEV=@= Cé )bTEIK QE@=@K

6KDPSRR )yUPXOD H[WUD VXDYH 8Q VROR SURGXFWR TXH QXWUH VXDYL]D \ SURWHJH VX SLHO \ FDEHOOR

/,752

&UHPD &RQ DYHQD \ SURWHtQDV GH OHFKH 'HMD VX SLHO VXDYH \ SURWHJLGD WRGR HO GtD

$*Ç

&RORQLD 7LHUQR DURPD QDWXUDO FRQ IyUPXOD VXDYH \ YLWDPLQD ( SDUD HO UHFLpQ QDFLGR

0i[LPR &XLGDGR &UHPD FRUSRUDO KXPHFWDFLyQ KRUDV 'H J R] &yG

9DORUL]DGR HQ

'H J R] &yG

9DORUL]DGR HQ

6KDPSRR SDUD FDEHOOR \ FXHUSR OLWUR IO R] &yG

9DORUL]DGR HQ

&RORQLD VLQ DOFRKRO OLWUR IO R] &yG

9DORUL]DGR HQ

2UJDQL]DGRU /LWWOH %DE\ D VROR

&yG

3RU OD FRPSUD GH XQ SURGXFWR $J~ GH OD SiJ D OD

2UJDQL]DGRU /LWWOH %DE\

,GHDO SDUD SDxDOHV WDOFR \ EDEHURV

2UJDQL]DGRU XQLVH[ SDUD ODV FRVDV GHO EHEp 0HGLGDV FP GH ODUJR FP GH DQFKR \ FP GH DOWR 9DORUL]DGR HQ

7LHUQR GLVHxR GH RYHMLWDV

1R LQOFX\H RWUDV SURPRFLRQHV 3URPRFLyQ YiOLGD KDVWD DJRWDU VWRFN

(= BQANV= AOPb ?KJPECK KI=J@K "KN?A PA =UQ@= = I=JPAJAN HEILEK U CQ=LK = PQ OQLANDÃ&#x203A;NKA

8Q KXUDFiQ GH IUHVFXUD FRQ DURPD D GHOLFLRVDV IUXWDV 3HUPLWH KDFHU ORV SHLQDGRV PiV GLYHUWLGRV \ PRGHUQRV

5HIUHVFDQWH DURPD SDUD VXSHUKpURHV TXH GHVLQWHJUD D ORV 0XJU\[

0i[LPD HVSXPD TXH HOLPLQD WRGR UDVWUR GH VXFLHGDG HQ HO FDEHOOR

&20$1'2 )25&( 3DUDJHOL[ *HO J R]

6SXPDWDN 6KDPSRR HQ PO IO R]

;SODVK &RORQLD PO IO R]

$URPD[ &RORQLD PO IO R]

&yG

9DORUL]DGR HQ

35202&,Ã&#x201E;1 (VWXFKH +DOORZHHQ D VROR

(Q EDxRV GH RUR \ SODWD FRQ HVPDOWHV GH FRORUHV SLQWDGRV D PDQR FRQ FULVWDO \ SHUOD

&yG

&DGHQD D VROR

&yG

SRU OD FRPSUD GH XQ SURGXFWR GH OD SiJ D OD

&DGHQD )RUFH &RGH SDUD QLxR (O GLMH WLHQH OD LPDJHQ GH &RPDQGR )RUFH \ VX ERUGH EULOOD HQ OD RVFXULGDG 0HGLGDV DSUR[ [ FP 9DORUL]DGR HQ

&DGHQD HQ EDxR SODWHDGR \ GLMH FRQ HVPDOWH SLQWDGR D PDQR Â&#x203A;%ULOOD HQ OD RVFXULGDG

18(9$ (VWXFKH GH DUHWHV +DOORZHHQ

%ULOOD HQ OD RVFXULGDG

,QFOX\H VLHWH SDUHV GH DUHWHV FRQ GLIHUHQWHV GLVHxRV \ XQ IROOHWR TXH FXHQWD XQD KLVWRULD GH +DOORZHHQ 9DORUL]DGR HQ

3URPRFLyQ YiOLGD KDVWD DJRWDU VWRFN

)=IE MQEANK OAN ?KIK PéÎ )QU IQU HEJ@= U ?KJ )EJE DE?O IA OEAJPK =Oß PK@KO HKO @ß=O

8Q DURPD GH GHOLFLRVDV µ RUHV \ IUXWDV SDUD ODV FKLFDV PiV IDVKLRQ

0,1, &+,&6 5XEL 'LYLQH &RORQLD FRQ FKLVSHDQWHV HVWUHOODV PO IO R] &yG

9DORUL]DGR HQ

SURPRFLyQ HVWXFKH KDOORZHHQ \ FDGHQD FRGH IRUFH SiJ

3DUD TXH HOOD SXHGD OXFLU HO SHLQDGR PiV GLYHUWLGR \ FRQ EULOORV PX\ PRGHUQRV 0RGHUQR DURPD Âµ RUDO IUXWDO VROR SDUD FKLFDV FRRO

'HVHQUHGD HO FDEHOOR OH GD XQ EULOOR IDEXORVR \ OR GHMD OLVWR SDUD ORV SHLQDGRV PiV OLQGRV

7LQD \ /LVD *HO FRQ FKLVSLWDV SDUD HO FDEHOOR PO IO R]

.HOO\ 7HFK 7LQD 'DQFH &RORQLD FRQ FKLVSHDQWHV 'HVHQUHGDQWH PiJLFR HVWUHOODV PO IO R] PO IO R]

&yG

9DORUL]DGR HQ

'HMD VX SLHO PX\ VXDYH FRQ XQ RORU ULTXtVLPR \ FRQ SUHFLRVRV EULOORV

&DQG\ 6ZHHW /RFLyQ SDUD HO FXHUSR FRQ FKLVSLWDV PO IO R] &yG

9DORUL]DGR HQ

&ROODU 3HTXHxD IH

(Q EDxR GRUDGR \ SODWHDGR FRQ HVPDOWHV OLQGDV SLHGUDV \ FULVWDO WUDVO~FLGR

,QFOX\H FROJDQWH FRQ IRUPD GH DQJHOLWR 0HGLGDV DSUR[ [ FP &yG

9DORUL]DGR HQ

(VWXFKH GH DQLOORV 3ULQFHVV 7UHV SDUHV GH DQLOORV FRQ IRUPDV GH SULQFHVD HVWUHOOD \ FRURQD 7DOOD UHJXODEOH &yG

9DORUL]DGR HQ

&ROODU HQ EDxR GH RUR \ FROJDQWH FRQ XQ FULVWDO WUDVO~FLGR

'( '(6&8(172 (1 (/ (678&+( '( $1,//26 35,1&(66

(VWXFKH 7RUWXJXLWD ,QFOX\H FROODU \ DURV HQ XQ OLQGR HVWXFKH GH PDWHULDO WLSR WHUFLRSHOR /DUJR DSUR[ FP 0HGLGDV GHO FROJDQWH [ FP

(Q EDxR SODWHDGR FRQ HVPDOWHV SLQWDGRV D PDQR \ OLQGRV FULVWDOHV URVDGRV

&yG

9DORUL]DGR HQ

SURPRFLyQ HVWXFKH KDOORZHHQ \ FDGHQD FRGH IRUFH SiJ

18(675$ %,-287(5,( (6

/,%5( '( 3/202

1,f26 %(%e6

+$67$

'( '(6&8(172 (1 (/ &2//$5 67$5(//$

(Q EDxR GH RUR FRQ FULVWDOHV \ HVPDOWHV SLQWDGRV D PDQR GH FRORU PRUDGR \ WXUTXHVD

&2/(&&,Ã&#x201E;1 67$5(//$ &ROODU ,QFOX\H FROJDQWH FRQ IRUPD GH PDULSRVD \ FULVWDO FHOHVWH 0HGLGDV DSUR[ GHO FROJDQWH FP [ FP &yG

9DORUL]DGR HQ

$URV

$URV ODUJRV

&yG

9DORUL]DGR HQ

3XOVHUD ,QFOX\H FROJDQWH GH PDULSRVD \ FULVWDO FHOHVWH 0HGLGDV GHO FROJDQWH FP [ FP &yG

9DORUL]DGR HQ

)5$*$1&,$6

6('8&725$6

&$87,9$ 6('8&( &2148,67$ KJ "KCKO AH =NKI= MQA AJ?EAJ@A AH BQACK @A H= L=OEÃ¤J

&yG

9DORUL]DGR HQ

'( '(6&8(172

)527$ $48Ã&#x20AC; < 6,(17( (/ $520$ (1 78 3,(/

e/ e/

)2*26 (DX GH WRLOHWWH DWRPLVHXU PO IO R]

(/(*,5 81$ )5$*$1&,$ $/ $=$5" -$0½6

2 $' &, ( 3 (6

62 2 (5 $' 0

62 2 (5 ' $ 0

+( 5% $/ &À 75 ,& 2

(63(&,$'2

0$'(5262

+(5%$/

&À75,&2

2 ,& 75 &À

$/ 5% +(

,9 &7 $

6('8 &72 5 2 1 5 ( ' 2 0 2 $' &, 3( (6

(/( *$ 17 (

!J AH >=JE?K @A NKI=O @A ^OEG= AJ?QAJPN= OQ BN=C=J?E= E@A=H

+(5%$/

0$'(5262

(63(&,$'2

«O=HK =Oß 1>E?= QJK @A HKO CNQLKO OACéJ OQ AOPEHK !HAC=JPA )K@ANJK /A@Q?PKN K ?PERK

(QACK AHECA AH =NKI= OACéJ H= B=IEHE= KHB=PER= !OLA?E=@K )=@ANKOK $AN>=H K ßPNE?K

!OP=O OAã=HAO PA CQE=NbJ = AJ?KJPN=N AH =NKI= MQA >QO?=O AJ AH ?=PbHKCK )5$*$1&,$6

(/(*$17(6 ,PSHULXP $]DEDN 'RUVD\ 'RUVD\ &ODVV

)5$*$1&,$6

02'(51$6 .DORV %ODFN +LJKZD\ &DUGLJDQ

)5$*$1&,$6

6('8&725$6 6WURQJ 0XVN 9DQLOOD +RPEUH .DORV 7RQLJKW 9HKHPHQFH SDUD pO ,PiQHP %UDYtR 0D[ (URV 3XOVR 6DOYDMH )RJRV

)5$*$1&,$6

$&7,9$6

$YHQWRXU )RU]H .DORV 6SRUW $OWKHXV <RX <RX /LYH

e/ e/

0DGHURVR 0RGHUQR $XGDFHV QRWDV GH PXVN WRQND \ YHWLYHU LQYLWDQ D YLYLU LQWHQVDPHQWH

)5$*$1&,$6

02'(51$6

+HUEDO 0RGHUQR 2ULJLQDOHV QRWDV GH KRMDV GH PHQWD IUHVFD ODYDQGD FLSUpV \ YHWLYHU

)527$ $48Ã&#x20AC; < 6,(17( (/ $520$ (1 78 3,(/

78 2)(57$ (675(//$

&$5',*$1 &RORJQH DWRPLVHXU PO IO R] &yG

9DORUL]DGR HQ

6(5 812 0,602 6,1 3(16$5/2 '26 9(&(6 !OK AO OAN AOLKJPbJAK !OK AO =N@EC=J

)5$*$1&,$6

$&7,9$6

(67$5 (1 /$ &,0$ 7,(1( 686 5(&203(16$6

78 2)(57$ (675(//$

)5$*$1&,$6

6('8&725$6

9,5,/ )8(57( 6('8&725 !NKO AOAJ?E= @A DKI>NA

+HUEDO 6HGXFWRU 9LULOHV QRWDV GH FXHUR ODYDQGD \ HVHQFLDV FtWULFDV

e/ e/

(/ 25,*(1 '( /$ 3$6,Ã&#x201E;1 !H LK@AN @A H= OA@Q??EÃ¤J

67521* 086. &RORJQH PO IO R] &yG

9DORUL]DGR HQ

)5$*$1&,$6

6('8&725$6

'26 )250$6 '( &2148,67$5

&yG

9DORUL]DGR HQ

&25$=Ã&#x201E;1 $75(9,'2 (63Ã&#x20AC;5,78 ,1'20$%/(

e/ e/

%5$9Ã&#x20AC;2 &+5,67,$1 0(,(5 &RORJQH DWRPLVHXU PO IO R]

)5$$1&,$6

6('8&725$6

(/ '(6(2 (6 ,1&217(1,%/(

(VSHFLDGR 6HGXFWRU 1RWDV GH QXHFHV FDUGDPRPR \ PDGHUDV HQFLHQGHQ OD SDVLyQ

e/ e/ 6$/9$-( &RORJQH DWRPLVHXU PO IO R] &yG

9DORUL]DGR HQ

1$&,'2 3$5$ 6('8&,5

)5$*$1&,$6

$&7,9$6

)527$ $48À < 6,(17( (/ $520$ (1 78 3,(/

/$ &2035$

e/ e/

723 $9(17285 &RORJQH DWRPLVHXU PO IO R] &yG

9DORUL]DGR HQ

(63Ã&#x20AC;5,78 /,%5( RAJPKQN !H RAN@=@ANK RE=FA AOPb LKN ?KIAJV=N

)5$*$1&,$6

$&7,9$6

0½6 $'5(1$/,1$ 3$5$ (/ +20%5( '( $&&,Ä1

&yG

9DORUL]DGR HQ

e/ e/

.$/26 63257 &RORJQH DWRPLVHXU PO IO R]

)5$*$1&,$6

$&7,9$6

&217,*2 &$'$ ,167$17( 6( 98(/9( Ã&#x2021;1,&2 <28 /,9( )UDJDQFLD XQLVH[ (DX GH WRLOHWWH DWRPLVHXU PO IO R] &yG

9DORUL]DGR HQ

e/ e/ PO

6,03/(0(17( 7Ã&#x2021; <28 )UDJDQFLD XQLVH[ (DX GH WRLOHWWH DWRPLVHXU PO IO R] &yG

9DORUL]DGR HQ

(DX GH WRLOHWWH DWRPLVHXU PO IO R] &yG

9DORUL]DGR HQ

&202 5(&,e1 6$/,'2 '( /$ '8&+$ ^OEG= )AJ "NAOD )bTEI= BNAO?QN= ?Q=J@K IbO HK JA?AOEP=

;

; 3URGXFWR

[

&RORQLD eVLND 0HQ

&yG

e6,.$ 0(1 %RG\ VSODVK UHIUHVFDQWH PO IO R] 9DORUL]DGR HQ

&RORQLD )UHVFDV QRWDV GH EHUJDPRWD PHQWD WRURQMD \ ODYDQGD TXH UHIUHVFDQ \ UHFDUJDQ GH HQHUJtD

(A R= = CQOP=N LKNMQA 0EAJA QJ IK@ANJK U NAOEOPAJPA AJR=OA @A CN=J ?=L=?E@=@

!O E@A=H L=N= HHAR=NH= AJ AH I=HAPßJ @ALKNPERK K =H PN=>=FK

0EAJA QJ NABNAO?=JPA =NKI= NAREP=HEV=JPA

&$%(//2 3,(/

325 +25$6 /$ 75$163,5$&,Ã&#x201E;1 (67$5Â½ /(-26 '( e/ ^OEG= )AJ KJPNKH "NAOD @AOK@KN=JPA OLN=U L=N= DKI>NAO ?KJ $+. / @A LNKPA??EÃ¤J ?KJPEJQ=

;

; [ 3URGXFWR 'HVRGRUDQWH &yG HQ VSUD\

[ &yG

&21 727$/ 3527(&7,21 &203/(; 6X IyUPXOD FRQ PLFURFiSVXODV DVHJXUD KDVWD KRUDV GH SURWHFFLyQ FRQWUD OD VXGRUDFLyQ \ HO PDO RORU &RQ SRWHQWH DJHQWH DQWLWUDQVSLUDQWH OLEUH GH DOFRKRO \ TXH QR PDQFKD OD URSD

$URPD IUHVFR \ YDURQLO D PHQWD \ PDGHUD

'HVRGRUDQWH HQ VSUD\ $VHJXUD KDVWD KRUDV GH SURWHFFLyQ FRQWUD OD VXGRUDFLyQ \ HO PDO RORU &RQ DURPD D PHQWD \ PDGHUDV

e6,.$ 0(1 'HVRGRUDQWH VSUD\ PO IO R] 9DORUL]DGR HQ

!OPEHK MQA R= ?KJ ÛH

3527(&&,Ä1 &2175$ /26 5$<26

/HQWHV *ROGHU 0DUFR \ EUD]RV GH PHWDO FRORU GRUDGR FRQ DFDEDGR PDWH \ FULVWDOHV FRORU PDUUyQ 7RGRV QXHVWURV OHQWHV YLHQHQ FRQ HVWXFKH

&yG

9DORUL]DGR HQ

/HQWHV %ODFNHVW SDUD pO 0DUFR \ EUD]RV GH FRORU QHJUR PDWH &ULVWDOHV FRORU KXPR &yG

9DORUL]DGR HQ

e/ e/

)(67,9$/ '( $&&(625,26 +$67$

'( '(6&8(172

5HORM ([SUHVV &RUUHD FRORU JULV SLH]D FHQWUDO \ GLDO QHJUR \ VLVWHPD GH YLVLyQ QRFWXUQD

5HORM 0RQWHJR (OHJDQWH UHORM GH PHWDO SODWHDGR 'LDO D]XO FRQ HIHFWR WRUQDVRODGR

&yG

9DORUL]DGR HQ

7RGRV QXHVWURV UHORMHV FXHQWDQ FRQ JDUDQWtD GH PHVHV \ YLHQHQ HQ HVWXFKH

+DVWD DJRWDU VWRFN

&DGHQD (GpQ (Q EDxR GH SODWD FRQ GLMH HQ IRUPD GH FUX] FRQ HVPDOWH QHJUR /DUJR FP 0HGLGDV GHO FROJDQWH [ PP

&DGHQD 3LUHR &RQ EDxR GH SODWD \ HVPDOWH GH FRORU QHJUR FRQ GLVHxR GH FXDGUDGRV /DUJR FP &ROJDQWH [ FP

(VFODYD ([FHOOHQFH (Q EDxR GH RUR \ FRQ FROJDQWH UHFWDQJXODU WH[WXUDGR

&yG

9DORUL]DGR HQ

18(675$ %,-287(5,( (6

/,%5( '( 3/202

&yG

9DORUL]DGR HQ

(VFODYD 0DQWKUD (Q EDxR GH SODWD \ FROJDQWH UHFWDQJXODU HQ EDxR GH RUR FRQ FULVWDO QHJUR HQ IRUPD GH Âª8Â« &ROJDQWH [ FP &yG

9DORUL]DGR HQ

e/ e/

)(67,9$/ '( $&&(625,26 +$67$

'( '(6&8(172

(VFODYD 6LULXV (Q EDxR GH SODWD \ FROJDQWH UHFWDQJXODU FRQ GHWDOOH GH FULVWDO QHJUR /DUJR FP &ROJDQWH [ FP

(VFODYD +HOLRV &RQ EDxR GH SODWD \ FROJDQWH UHFWDQJXODU FRQ GLVHxR GH IORU GH OLV 0HGLGDV GHO FROJDQWH

&yG

9DORUL]DGR HQ

+DVWD DJRWDU VWRFN

[ FP

{!J?QÛJPN=PA ?KJ PQ =??AOKNEK B=RKNEPK =MQßÎ

'( $&&(625,26

+$67$

'( '(6&8(172

$&&(625,26 (67,/2

)(67,9$/

5 OE BQAN=O QJ= BHKN z?QbH OANß=O .KO= @A QHC=NE= BHKN @A 0E=NÛ Q KNMQß@A= ATäPE?=

)ORUDO 5RPiQWLFD 'HOLFDGDV URVDV GH %XOJDULD UHYHODQ WX HVHQFLD IHPHQLQD

)527$ $48À < 6,(17( (/ $520$ *5$==,$ (1 78 3,(/

35202&,Ã&#x201E;1 *UD]]LD *UD]]LD 3DUDGLVH R *UD]]LD ([RWLF D VROR

F X

SRU OD FRPSUD GH XQ SURGXFWR GHO FDWiORJR

)ORUDO 6HQVXDO $WUDFWLYD \ QDWXUDO FRPR OD SDUDGLVtDFD Âµ RU GH 7LDUp

*5$==,$ (DX GH SDUIXP DWRPLVHXU PO IO R] &yG

*5$==,$ 3$5$',6( (DX GH SDUIXP DWRPLVHXU PO IO R] &yG

*5$==,$ (;27,& (DX GH SDUIXP DWRPLVHXU PO IO R] &yG

9DORUL]DGR HQ F X

)ORUDO 6HQVXDO 0LVWHULR \ VHQVXDOLGDG HQ XQD IXVLyQ GH RUTXtGHDV \ H[yWLFDV IUXWDV

1R LQOFX\H RWUDV SURPRFLRQHV QL PXHVWUDV 3URPRFLyQ YiOLGD KDVWD DJRWDU VWRFN

35(&,2 7(17$&,Ä1

'LIXPLQDGRU

',)80,1$ 'HOLQHDGRU NRKO FRQ GLIXPLQDGRU J R] 9DORUL]DGR HQ

D VROR

'LIXPLQDGRU GH FRORU &UHD HIHFWR ªVPRNH\« VLPLODU DO GH ODV VRPEUDV

) ..¨* '+$( &yG

01.-1!/ '+$(

&yG

,!.( '+$(

)+. + '+$(

&yG

*!#.+ '+$( &yG

'(/,1($

&+,/( & +$= 78 3(','2 $ 75$9e6 '( 78 &2168/725$ 2 //½0$126 *5$7,6 $/ 7(/e)212 &$7½/2*2 9,*(17( &RQVXOWH IDFKD GH YLJHQFLD GHO FDWiORJR VHJ~Q VX ]RQD GH YHQWD

eVLND FRPXQLFD D VXV FOLHQWHV TXH DPERV ORJRV GH OD PDUFD HVWiQ YLJHQWHV \ SRGUi UHFLELU SURGXFWRV FRQ FXDOTXLHUD GH HOORV PDQWHQLHQGR HO PLVPR QLYHO GH FDOLGDG 6tJXHQRV HQ ZZZ HVLND EL]

ZZZ IDFHERRN FRP HVLND EHOFRUS

ZZZ \RXWXEH FRP (VLND9LGHRV

#(VLND%HOFRUS

,035(6,Ð1 0(752&2/25 6 $

SDUD HQPDUFDU WXV RMRV \ FUHDU XQ HIHFWR LQWHQVR D WX PLUDGD

'HOLQHDGRU