Tapatío 12 de agosto 2018

Page 1

'6/%"%03&4 +FT·T ~MWBSF[ EFM $BTUJMMP 7 +PSHF ~MWBSF[ EFM $BTUJMMP ;

&%*503 %*3&$503 $BSMPT ~MWBSF[ EFM $BTUJMMP (

"º0 $* /Á.&30

#

4&$$* /

$035&4¶"

Iecqah >]nmqe]naj] oa nack`a] _kj ah Lnaiek J]_ekj]h `a ?qajpk =cqop j U au .,-4 (6"%"-"+"3" +"- %0.*/(0 %& "(0450 %&

?Q=@ANJK @A HA?PQN=

1ÈHJOB EPT

-Õ«iÀÛ Ã À\Ê >À Ê >ÃÌ Ê >À °V>ÃÌ J v À >` À°V ° ÝÉÊ,ÕÌ Ê, iÀ ÊÀÕÌ °À iÀ J v À >` À°V ° Ý &- */'03."%03 t & #"33&3"

1PS 3VUI 3PNFSP

%

FTQV¹T EF QVCMJDBS MB USJMPH½B EF i1BUSJBw 1BDP *HOBDJP 5BJCP ** TF BMFKB EF MB OBSSBUJWB IJT UÂSJDB QBSB BEFOUSBSTF B MB GJDDJÂO Z B MB DSÂOJDB QFSJPE½TUJDB DPO MBT IJTUPSJBT i&M PMPS EF MBT NBHOPMJBTw Z i-B MJ CFSUBE FO CJDJDMFUBw BNCPT QSF TFOUBEPT FO VO TPMP MJCSP SFWFSTJ CMF BVORVF MBT USBNBT OP UJFOFO OJOHÈO QVOUP FO DPNÈO N²T RVF BM BVUPS i5FSNJO¹ BNCBT IJTUPSJBT BM NJTNP UJFNQP FT VO MJCSP RVF TF DPDJOÂ FO MB GBTF GJOBM BVORVF NF UPNÂ NVDIP FTDSJCJS DBEB VOB EF FMMBT QPS TV MBEP MB GBTF GJOBM NF MB BWFOU¹ FOUSF N½UJOFT FO $IJIVBIVB P FO (VBEBMBKBSB Z SFHSFTBCB B $JVEBE EF .¹YJDP FO MBT OPDIFT FTDSJC½Bw DVFOUB FM FTDSJUPS "M MMFHBS DPO BNCPT UFYUPT B MB FEJUPSJBM 1MBOF UB TF FODPOUSBSPO DPO MB FODSVDJKBEB EF DÂNP QV CMJDBSMPT i&TUBCB MB QPTJCJMJEBE EF QPOFSMPT FO VO NJTNP WPMVNFO QFSP NF OFHV¹ QPSRVF TPO EPT MJ CSPT BCTPMVUBNFOUF EJGFSFOUFT FOUSF T½ RVF OP DB CFO FO VO TPMP MJCSP FOUPODFT QSPQVTJFSPO QVCMJ DBSMPT QPS TFQBSBEP TJO FNCBSHP FTUB PQDJÂO FSB NVZ DBSB QVFT TPO MJCSPT DIJRVJUPT FOUPODFT MB FEJUPSJBM EFDJEJÂ IBDFS VO SFWFSTJCMF QPS MP RVF FM MJCSP TPO MPT MJCSPT TPO EJGFSFOUFT UJFOFO QPSUBEB EJGFSFOUF Z TF MFFO EJGFSFOUF BT½ RVF GVF VO NFDB OJTNP QFSGFDUPw

6OB OPWFMB EF BWFOUVSBT

4"#&3 .«4 $POPDFS B USBWÏT EF MB FTDSJUVSB "DUVBMNFOUF 1BDP *H OBDJP 5BJCP ** DVFOUB DPO VO QBS EF MJCSPT FNQF[BEPT TJO FN CBSHP BÞO OP TBCF DV ÈM TFSÈ FM TJHVJFOUF MP RVF TÓ SFDPOPDF FT TV WVFMUB B MB IJTUPSJB i1PTJCMFNFOUF FTDSJCJ SÏ EF IJTUPSJB QFSP EFM MBEP EF SFQPSUBKFT IJT UØSJDPT OP EF IJTUPSJB EF OBSSBUJWB OP OFDF TBSJBNFOUF EF UFNBT NFYJDBOPT TJOP EF IJTUPSJB RVF B MP MBSHP EF NVDIPT B×PT RVF NF IBO DBVUJWBEP Z RVF TJFNQSF RVJTF TB CFS NÈT Z QVFT MB NF KPS NBOFSB EF DPOPDFS NÈT EF BMHP FT FTDSJ CJFOEPw

i&M PMPS EF MBT NBHOPMJBTw QBSUF EF VO IFDIP IJTUÂSJDP EVSBOUF FM QPSGJSJTNP TF JOUFHSBO NJ HSBOUFT FYUSBOKFSPT DPNP DBNQFTJOPT QBSB BQBDJ HVBS MPT DPOGMJDUPT JOE½HFOBT SFMBDJPOBEPT DPO MB UJFSSB i&ODPOUS¹ FTUB IJTUPSJB DVBOEP FTUBCB USB CBKBOEP FO VOB IFNFSPUFDB WJ FM NFOTBKF RVF EF D½B A&O FM DPOTVMBEP EF .JM²O FTU²O TPMJDJUBOEP NJ HSBOUFT Z NF MMBNÂ MB BUFODJÂO WJ RVF BI½ IBC½B VOB IJTUPSJB $VBOEP DPOPD½ /²QPMFT EFDJE½ RVF OP TFS½B FO .JM²O TJOP /²QPMFT QPSRVF ¹TUB FT VOB DJVEBE BCTPMVUBNFOUF MJUFSBSJB Z FOUPODFT UPN¹ OP UBT EF FTUB DJVEBE FO MPT EJGFSFOUFT WJBKFT RVF IJDF DVBOEP TF QVCMJDBSPO NJT MJCSPT FO *UBMJB FOUPODFT GVF TBMJFOEP BT½ FM JOJDJP EF MB USBNB -VFHP UVWF RVF QPOFSMB FO MB 7FSBDSV[ EF QSJODJQJPT EFM TJHMP 99w "T½ 5BJCP ** QSFTFOUB iVOB FTQFDJF EF OPWFMB EF BWFOUVSBT IJTUÂSJDP QPM½UJDB 5JFOF VO TVTUFOUP EF JOGPSNBDJÂO IJTUÂSJDB TPCSF MB RVF ZP MFWBOUP MB IJTUPSJB EF NJHSBOUFT JUBMJBOPT RVF MMFHBO B 7F SBDSV[ FO QMFOP QPSGJSJTNP TVQVFTUBNFOUF QBSB RVF TJSWBO EF DPOUFODJÂO B MPT DPOGMJDUPT JOE½HFOBT QFSP RVF B MB IPSB EF MB WFSEBE FTUPT TVQVFTUPT DBNQFTJOPT QSPWFOJFOUFT EF /²QPMFT OP TPO DBN QFTJOPTw -PT FTQ½BT EFM QPSGJSJTNP DPNJFO[BO B EFOVO DJBS B MPT GBMTPT DBNQFTJOPT OBQPMJUBOPT QVFT ¹T UPT iTF DPN½BO MBT TFNJMMBT TF DPNJFSPO BM CVFZ BO EBCBO FODVFSBEPT MPT EPNJOHPT Z IBTUB FM DVSB RVF WFO½B DPO FMMPT TF EFTOVEBCB QBSB UPNBS FM 4PMw &OUPODFT TVSHF FM FOJHNB EF MB USBNB {RVJ¹OFT TPO FTPT JUBMJBOPT Z RV¹ IBDFO BI½

&- 3&503/0

-B USBNB FTU² DPOUBEB EF EPT NBOFSBT VOB FT iEFTEF FM QVOUP EF WJTUB EF VO BEPMFTDFOUF RVF WJFOF FO FM HSVQP -VDJP BQPEBEP A*M EJBWPMP w FTUF QFSTPOB KF DPNFUF VO EFTMJ[ RVF MP PCMJHBS² B SFHSFTBS B TV OB UBM /²QPMFT i BÁPT EFTQV¹T QBSB NPSJSw "EFN²T BM JOJDJP EF FTUF MJCSP FM BVUPS IBDF VOB EFEJDBUPSJB B TVT BNJHPT JUBMJBOPT EF RVJFOFT UPNÂ OPNCSFT QBSB TVT QFSTPOBKFT &MMPT SFDJCJFSPO DPO FO UVTJBTNP i&M PMPS EF MBT NBHOPMJBTw QVFT JODMVTP MMF HÂ B *UBMJB QSJNFSP RVF B .¹YJDP i.JT BNJHPT JUBMJB OPT FTU²O NVZ DPOUFOUPT FM MJCSP ZB TF QVCMJDÂ FO *UBMJB TBMJÂ QSJNFSP BMM² QPSRVF ZP FTUVWF JOWJUBEP FO MB 'FSJB EF 5VS½O Z FO FM 'FTUJWBM EF -JUFSBUVSB EF 1FSV HJB FOUPODFT UFO½BNPT VO SFUP MB FEJUPSJBM Z ZP QSP EVDJS VO MJCSP Z USBEVDJSMP BM JUBMJBOP FO QPDP UJFNQP QBSB RVF DPJODJEJFSB DPO NJT WJBKFT B *UBMJB Z TF QVEJF SB IBDFS VOB HJSB FTP GVF IBDF VO NFT Z NFOPT 4JO FNCBSHP BI½ TÂMP TBMJÂ A&M PMPS EF MBT NBHOPMJBT w TJO i-B MJCFSUBE FO CJDJDMFUBw

%& 1"$0 *(/"$*0 5"*#0 **

1FSJPEJTNP EF DJDMJTNP

" -" '*$$* /

3&7&34*#-& &M MJCSP SFÞOF EPT PCSBT EF 1BDP *HOBDJP 5BJCP **

&M BVUPS NFYJDBOP QSFTFOUB EPT MJCSPT FO VOP SFWFSTJCMF Â&M PMPS EF MBT NBHOPMJBTÃ USBNB RVF QBSUF EF VO SFDPSUF IJTUªSJDP Z Â-B MJCFSUBE FO CJDJDMFUBÃ DSªOJDB RVF TVSHF EF MB WJEB EF TV QBESF

i-B MJCFSUBE FO CJDJDMFUBw OBSSB PUSB IJTUPSJB Z TVSHF EF MB QSPQJB WJEB EF 1BDP *HOBDJP 5BJCP ** QVFT ¹TUB TF JOTQJSB FO FM QSJNFS 5BJCP RVJFO MF DPO UBHJÂ MB QBTJÂO QPS FM DJDMJTNP iBVORVF OP T¹ NPO UBS FO CJDJDMFUB i'VF MB NBOFSB RVF FODPOUS¹ EF USBFS B NJ QB ESF B MB NFTB Z FTUBS TFOUBEP DPO ¹M EVSBOUF IPSBT &T MB IJTUPSJB EF VO KPWFO QFSJPEJTUB FO &TQBÁB FT VOB IJTUPSJB SFBM FT VOB IJTUPSJB RVF FTU² CBTBEB FO MBT DSÂOJDBT MJCSPT EF SFDPSUFT GPUPT EF NJ QB ESF Z NJT SFDVFSEPT EF MB JOGBODJBw &M FTDSJUPS VUJMJ[Â MPT SFDPSUFT EF QFSJÂEJDPT Z GPUPHSBG½BT RVF TV NBESF MF FOUSFHÂ B MB NVFSUF EF TV QBESF iNF EJKP AUV QBESF RVFS½B RVF UVWJFSBT FT UP w 4JO FNCBSHP FTUPT OP FSBO NBUFSJBMFT TVGJ DJFOUFT GBMUBCBO MBT DSÂOJDBT iRVF TPO VO NPOUÂO TPO DPNP DSÂOJDBT RVF SFBMJ[Â TV QBESF B MP MBSHP EF USFT BÁPT EF EFEJDBDJÂO BM QFSJPEJTNP EF DJDMJTNP Z FOUPODFT FM QSPCMFNB FSB RVF OP FTUB CB FO BSDIJWPT FO SFE UVWF RVF EBSNF MB CFDB 5BJ CP NFUFSNF FO IFNFSPUFDBT FTQBÁPMBT CVTDBOEP MPT BSDIJWPTw %FTQV¹T EFM DMBWBEP FOUSF BSDIJWPT 5BJCP ** TF SFFODPOUSÂ DPO TV QBESF i'VF VOB FYQFSJFODJB NVZ QBESF USBFS B UV QBQ² TFOUBEP B VO MBEP UVZP Z EFDJS A1BDP * IBD½B FTUP QPS FTUP Z QPS FTUP Z UF O½B FM CJHPUF BT½ Z DPOUBS DVBOEP MMFHBCB FO MB OP DIF B MB DJVEBE Z ZP MF QSFHVOUBCB A{RV¹ MJCSPT NF USBKJTUF Z DÂNP GVF OVFTUSB SFMBDJÂO 'VF SFQBTBS VOB FUBQB EF NJ WJEB Z VOB FUBQB EF MB WJEB EF NJ QBESFw &M SFTVMUBEP GVF MB DSÂOJDB OBSSBUJWB iTPCSF VO QFSJPEJTUB FO &TQBÁB RVF BIPHBEP FO FM GSBORVJT NP QPS MB DFOTVSB QPS MB JODBQBDJEBE EF IBDFS QF SJPEJTNP EF WFSEBE FOMPRVFDF Z EFDJEF OJ N²T OJ NFOPT RVF DPOWFSUJSTF FO QFSJPEJTUB EFQPSUJWP RVF OVODB MP IBC½B TJEP Z FTQFD½GJDBNFOUF EF DJDMJTNP RVF OJ TJRVJFSB TF IBC½B TVCJEP B VOB CJDJDMFUB FO TV WJEB Z FOUPODFT USBUB TPCSF FTUB CÈTRVFEB EF MJ CFSUBE QPS MPT DBNJOPT EFM DJDMJTNP EFQPSUJWP RVF FT VOB NFU²GPSB NVZ QPUFOUF RVF NF IB BDPNQB ÁBEP B MP MBSHP EF MPT BÁPTw


1~(*/" #

&- */'03."%03 &- */'03."%03

%PNJOHP EF BHPTUP EF

&/53&7*45"

.*(6&- #"326*"3&/" &4$3*503

"CTVSEP Z CSFWFEBE FO FM

$035&4¶"

: ­F[

.JHVFM #BSRVJBSFOB PCUVWP FM 1SFNJP /BDJPOBM EF $VFOUP EF FTUF B¨P FM BVUPS OPT IBCMB TPCSF MPT SFUPT EF TV PCSB HBMBSEPOBEB

$3&"%03 4V PCSB IBDF VO FOMBDF FOUSF VO DVFOUP Z PUSP DPO EJÈMPHPT EJSFDUPT

1PS +PSHF 1¹SF[

-

B FEJDJÂO OÈNFSP RVJODF EFM 1SFNJP /BDJPOBM EF $VFOUP "HVTU½O :²ÁF[ GVF QBSB FM WPMVNFO EF DVFOUPT i7B SJBDJPOFT TPCSF VOB NPTDB EFTEF FM JOGJFSOP EFM PUSPw EFM FTDSJUPS NFYJ DBOP .JHVFM #BSRVJBSFOB 'JSNBEP DPO FM TFVEÂOJNP EF ,BTQBS )BVTFS TV MJCSP GVF FMFHJEP QPS VO KVSBEP DPNQVFTUP QPS $FDJMJB .B HBÁB $FDJMJB &VEBWF Z 3BGBFM 7JMMFHBT QPS TV iVOJ WFSTP QFSTPOBM RVF JOUFHSB FMFNFOUPT EJT½NJMFT DPOKVHBOEP WBSJPT SFHJTUSPT MJUFSBSJPT EFTEF MP DVMUP IBTUB MP QPQVMBS HSBDJBT B TV JSSFWFSFODJB Z IVNPS OFHSP QFSNJUF MB QBSUJDJQBDJÂO EFM MFDUPS Z MP MMFWB BM BTPNCSP RVF SFNJUF B MB FTU¹UJDB EF MB CSFWFEBEw TFHÈO FM BDUB RVF BDSFEJUB BM MJCSP DPNP HBOBEPS 4PCSF FTUB DPMFDDJÂO EF DVFOUPT .JHVFM QMBUJ D FO FOUSFWJTUB i&T VO MJCSP EF DVFOUPT DPSUPT 4PO DVFOUPT CSFWFT DPO MB VOJEBE UFN²UJDB EF IBCMBS EF EFGPSNJEBEFT G½TJDBT P QTJDPMÂHJDBT FOGFSNFEBEFT NFOUBMFT P DVFTUJPOFT RVF NBSDBO NVDIP B VO QFS TPOBKF Z RVF MP IBDFO NVZ EJGFSFOUF B MBT EFN²T QFSTPOBT &T MP RVF VOF B UPEPT MPT DVFOUPTw &M BDUB UBNCJ¹O SFTBMUB MB WBSJFEBE FO MPT SF HJTUSPT MJUFSBSJPT BMHP TPCSF MP RVF #BSRVJBSFOB

BHSFHÂ i4F SFGJFSFO B RVF VOPT FTU²O FTDSJUPT FO QSJNFSB QFSTPOB IBZ TFHVOEB Z UFSDFSB 6OPT QPS FKFNQMP OP UJFOFO VOB OBSSBDJÂO DMBSB OP FYQM½DJ UBNFOUF &T VO EJ²MPHP EJSFDUP FM DVFOUP JOJDJB Z UFSNJOB FOUSF EPT P USFT QFSTPOBT DPOWFSTBOEP TJO EFDJS RVJ¹OFT TPO P QPS RV¹ FTU²O BMM½ FO FM EJ²MP HP VOP WB WJFOEP RVJ¹OFT TPO QPS RV¹ FTU²O RV¹ FT MP RVF FTU² QBTBOEP &T VO SFHJTUSP NVZ EJTUJOUP BM OBSSBEPS PNOJQSFTFOUF RVF DVFOUB VOB IJTUPSJB RVF UBNCJ¹O IBZ DVFOUPT BT½ FO FM MJCSPw &O DVBOUP BM IVNPS OFHSP FM FTDSJUPS USB[Â VOB JOGMVFODJB DPO MB MJUFSBUVSB FVSPQFB i&O 3VTJB FT U² FM BCTVSEJTNP MP IBO NBOFKBEP WBSJPT QB½TFT EFM &TUF EF &VSPQB 1BSFDJFSB JSSFWFSFOUF P IVNPS OF HSP -P RVF IJDF FT VTBS FTUB GPSNB MJUFSBSJB QBSB JS B MPT FYDFTPT 7JDJPT FYBHFSBEPT JSSFBMy &TP QVF EF UFOFS DPNQMJDJEBE DPO FM MFDUPS QBSB TBDBS BMHV OB SJTB QFSP OP TPO DIJTUFTw %FOUSP EF TV CJCMJPHSBG½B i7BSJBDJPOFT TPCSF VOB NPTDB EFTEF FM JOGJFSOP EFM PUSPw FODBKB FTUSVD UVSBMNFOUF DPO PUSPT EF TVT MJCSPT EF DVFOUPT BVO RVF FO MB UFN²UJDB IBZ VOB WBSJBDJÂO i(SBO QBSUF EF MBT FTUSVDUVSBT EF MBT GPSNBT ZB MBT IF VTBEP FO PUSPT MJCSPT #VTDP FM DVFOUP DPSUP FM EJ²MPHP TJO OBSSBDJÂO QFSTPOBKFT FYD¹OUSJDPT &O PUSPT MJCSPT

9 ,ÊÊ

"-

>À ÃÊ À }Õi

· Ê`iÃi>ÃÊÃiÀÊi ÌiÀÀ>` ¶ " VO BNJHP MF QSFHVOUBSPO TVT QBSJFOUFT {RVF DÂNP RVFS½B RVF MP FOUFSSBSBO B MP RVF ¹TUF DPOUFTUÂ S²QJEBNFOUF RVF FTQFSBCB RVF MP FOUFSSBSBO DVBOEP ZB FTUVWJFSB NVFSUP BMHP NF EJDF RVF MPT DPOPD½B CJFO Z FT RVF MB NPEFSOJEBE IB IFDIP RVF DBNCJFNPT MPT DPODFQUPT USBEJDJPOBMFT Z OP FT EF EVEBSTF RVF FO FM GVUVSP BMHVJFO EFUFSNJOF MB IPSB EF UV NVFSUF P EF RVF EFKFT EF WJWJS ¬MUJNBNFOUF TF FTUJMB IBCMBS EFM DPO DFQUP NVFSUF EJHOB MP RVF WBS½B TV TFOUJEP TFHÈO RVJFO MP EJDF /P DPJODJEP DPO FMMPT ZB RVF DPOTJEFSP RVF UPEPT MPT RVF IBO NVFSUP OBUVSBMNFOUF MP IJDJFSPO DPO EJHOJEBE WB NPT MP IBS½BO DPO N²T P NFOPT TVGSJNJFO UPT $PO N²T P NFOPT HBOBT EF IBDFSMP QF SP MB NVFSUF QVFT FT VO IFDIP UBO OBUVSBM DPNP SFTQJSBS Z OP DSFP RVF B OBEJF TF MF PDV SSB RVF BMHVJFO SFTQJSF JOEJHOBNFOUF /PTPUSPT IFSFEBNPT EF MPT "[UFDBT Z EFN²T IFSFODJBT HFO¹UJDBT DJFSUP DVMUP B MB NVFSUF UBOUP RVF IBDFNPT SPUPOEBT Z IBZ NVDIPT NBVTPMFPT B NVFSUPT GBNPTPT P SJ DPT BIPSB EFTDPOPDJEPT UBM WF[ FSB VOB NP EB RVF IPZ IB QBTBEP QFSP BI½ FTU²O MPT QBO UFPOFT EF NVFTUSB " NJ NF HVTUBO MPT QBOUFPOFT USBEJDJPOBMFT FTPT RVF UJFOFO NVSDJ¹MBHPT QFSP IBDF NVDIP RVF OP BTJT UP B VO GVOFSBM FO VOP EF FMMPT SFTVMUBCB UF SSJCMF IBTUB EPOEF SFDVFSEP BTJTUJS B VO WF MPSJP EF UPEB MB OPDIF FO FTP NF FODBOUB MB NPEFSOJEBE VO SBUJUP Z BM DSFNBUPSJP EPO EF UBO TPMP VOP TF QBSB VOB GSJFHB NJFOUSBT UF DSFNBO Z BI½ TF BDBCB MB GVODJÂO TBMWP RVF

B BMHVJFO TF MF PDVSSB JS B UJSBS UVT SFTUPT B BM HÈO TJUJP DBT½ TJFNQSF MFKBOP RVF TFHÈO ¹M UF HVTUBCB NVDIP MP RVF BM NVFSUP TJNQMFNFO UF MF WBMF HPSSP /P GVF G²DJM QBSB NJ FTUB BEBQUBDJÂO ZB RVF BM QFSNJUJS TFS DSFNBEP MP RVF TF IBS² QPS GPSUVOB DPO P NJ DPOTFO UJNJFOUP TJ ZP TPZ FM NVFSUP Z OP NF HVT UBCBQPSRVF NF QBSFDF RVF DSFNBSTF FT VO BDUP EF QSPGVOEP FHP½TNP QBSB DPO MPT HVTB OPT RVF B FTUBT BMUVSBT EFCFO UFOFS IBTUB BHSVSBT QFOTBOEP FO MB DBOUJEBE EF HSBTB RVF FTQFSBO SFGJOBSTF QFSP OJ NPEP RVF TF GSJFHVFO &O BMHVOPT QBOUFPOFT USBEJDJPOBMFT BD UVBMNFOUF TF QSFTFOUBO FTQFDU²DVMPT EF BQB SFDJEPT UBNCJ¹O NVZ JOUFSFTBOUFT BVORVF DJFSUBNFOUF QBTBEPT EF VTP Z IBZ VOB DPO TFKB QPQVMBS RVF BGJSNB RVF FO FTUB WJEB OB EJF TF FTDBQB EF NPSJS OJ EF QBHBS JNQVFT UPT 8PPEZ "MMFO FO VOB EF TVT N²T QSPGVO EBT NFEJUBDJPOFT TPCSF FM UFNB RVF FYQSF TB FO TV PCSB EJDF N²T P NFOPT FO MB QFM½ DVMB i CBOBOBTw RVF MB NVFSUF FT VO UFSSJCMF JODPOWFOJFOUF QBSB MB WJEB TFYVBM FO MP RVF QBSFDF UFOFS BMHP EF SB[ÂO BVORVF UBNCJ¹O FT DJFSUP BMHP RVF EJKP .BVSJDF #BSJOH Z RVF SFDVFSP IBCFS MF½EP FO BMHÈO TJUJP RVF i MPT NVFSUPT UJFOFO NVZ QPDBT QPTJCJMJEBEFT DVBOEP IBO EF DPNQFUJS DPO MPT WJWPTw "MHP EFC½BO UFOFS EF SB[ÂO MPT RVF FTUB CMFDJFSPO BRVFMMP EF FM NVFSUP BM QP[P Z FM WJ WP BM HP[P !FOSJHVF@[VMPBHB

TF USBUB EF SFMBDJPOFT BNPSPTBT N²T ½OUJNBT &O FTUF MJCSP FT N²T TPCSF FTPT QFSTPOBKFT DPNP GSFB LTIPXw &O FM NJTNP UFOPS EFM GSFBLTIPX FTU² FM TFV EÂOJNP FMFHJEP QBSB QBSUJDJQBS FO FTUF DFSUBNFO BM FMFHJS VOB GJHVSB IJTUÂSJDB EF MB DVBM +BLPC 8BT TFSNBOO FTDSJCJÂ VOB OPWFMB Z 8FSOFS )FS[PH SFB MJ[Â VOB DJOUB EF GJDDJÂO i,BTQBS )BVTFS "QBSFDJÂ FO VOB WJMMB TJO RVF OBEJF TVQJFSB RVJ¹O FSB TPMP UFO½B VOB DBSUB FO MB NBOP RVF EFD½B TV OPNCSF ,BTQBS )BVTFS " MB GFDIB FSB VO FOJHNB RVJ¹O FSB FTB QFSTPOBw

1BMNBS¦T EFM FTDSJUPS

%FSFDIP QPS MB 6OJWFSTJEBE EF 7BMMF EF #SBWP )B TJEP HBOBEPS EFM 1SJNFS 1SFNJP 3FHJPOBM EF -JUF SBUVSB EFM /PSPFTUF NFODJÂO )POPSJGJDB EFM $PODVSTP /BDJPOBM EF $VFOUP #FBUSJ[ &TQFKP HBOBEPS EFM QSJNFS MVHBS EFM $PODVSTP &T UBUBM EF $VFOUP EFM *OTUJUVUP 5BNBVMJQFDP QBSB MB $VMUVSB Z MBT "SUFT 1SFNJP EF QVCMJDBDJÂO &EJUPSJBM QBSB 0CSB &TDSJUB *5$" $0/"$6-5" 1SFNJP &TUBUBM EF 1PFT½B ;BGSB EF 6UPQ½BT QSJNFS MVHBS EFM 1SFNJP 3FHJPOBM EF $VFO UP 4PCSF 3JFMFT $0/"35& Z $*13*- 1SF NJP +VBO # 5JKFSJOB EF 1PFT½B 1SFNJP /B DJPOBM EF $VFOUP EF 4POPSB +VFHPT 5SJHBMFT EFM 7BMMF EFM :BRVJ (FSBSEP $PSOFKP Z 1SFNJP /BDJPOBM EF 1PFT½B +VFHPT 'MPSBMFT 3BNÂO -ÂQF[ 7FMBSEF EF ;BDBUFDBT FOUSF PUSPT SFDPOP DJNJFOUPT

%F TV GPSNBDJÂO .JHVFM #BSRVJBSFOB BHSFHÂ i&TUVEJ¹ EFSFDIP FO DJFSUP QVOUP NF GVJ GPSNBOEP DPO MBT MFDUVSBT BMHP BVUPEJEBDUB " NFEJEB EF RVF GVJ EFTDVCSJFOEP RVF OP QPE½B FTDBQBS EF FTUP %FT EF NVZ KPWFODJUP FNQFD¹ B HVBSEBS UFYUPT &NQF D¹ FO MB QPFT½B JONFEJBUBNFOUF FNQFD¹ FO FM DVFO UP UPN¹ BMHVOPT UBMMFSFTw %F BDVFSEP DPO MB 4FDSFUBS½B EF $VMUVSB +BMJT DP 4$+ +VBO .JHVFM 1¹SF[ (ÂNF[ /VFWP -BSF EP 5BNBVMJQBT GJSNB DPO FM OPNCSF BSU½TUJ DP EF i.JHVFM #BSRVJBSFOBw &T MJDFODJBEP FO

50." /05"

&M SFDPOPDJNJFOUP -B FOUSFHB EFM QSFNJP TF SFBMJ[BSÈ EFOUSP EF MBT BDUJWJEBEFT EF MB $ÈUFESB EF -JUFSBUVSB Z "SUFT "HVTUÓO :È×F[ FTUF BHPTUP TFHÞO MB 4$+

"-Ê " ", -ÊÊ

Ê/ *"

À > ` Ê â? iâÊ ÃV Ì

·,i } iÃÊ iÝ V> >ö .²T EF BMHÈO NFYJDBOP TFHVJEPS EF FTUPT NPWJNJFO {"MHVOB WF[ TVSHJ FO OVFTUSP QB½T BMHVOB SFMJHJÂO QSPQJB Z PSJHJOBM EF FTUBT UJFSSBT 4PMBNFOUF FO MB FSB QSFIJTQ² UPT OPSUFBNFSJDBOPT BDBC QJSBUFBOEP MB NBSDB QBSB IB OJDB DVBOEP MPT IBCJUBOUFT PSJHJOBSJPT EFM DPOUJOFOUF B DFS TV QSPQJB TFDUB EF TFS TPMP BHFOUF EF MB GSBORVJDJB TF GVFS[B EF QFOTBS Z DVFTUJPOBSTF GVFSPO DSFBOEP VO VOJWFS BEVFÁ EF MB NJTNB IBDJ¹OEPMF VOP RVF PUSP BSSFHMP DPO TP EF EJPTFT Z EJPTBT B MPT RVF SFQSFTFOUBSPO EF EJTUJOUBT MP DVBM UBNCJ¹O MBT KVHPTBT HBOBODJBT RVF QSPEVDF FM QB GPSNBT E²OEPMFT DVMUPT NVZ FMBCPSBEPT P NVZ TJNQMFT B SPYJTNP SFMJHJPTP WJOJFSPO B RVFEBS CBKP TV FYDMVTJWP EP NJOJP Z DMBSP FM EF TV GBNJMJB &O .¹YJDP UFOPS EF TV HSBEP EF FWPMVDJÂO "T½ GVF RVF FYJTUFO QPS TVQVFTUP SFMJHJPOFT RVF TF NB OBDJFSPO EJWJOJEBEFT DPNP 5MBMPD FOUSF MPT OFKBO DPNP FNQSFTBT GBNJMJBSFT BM JHVBM RVF OBIVBT $VSJDBWFSJ FOUSF MPT QVS¹QFDIBT P

Ê >Ê i}>`>Ê`i Ê DJFSUPT QBSUJEPT QPM½UJDPT ,VLVMLBO FOUSF MPT NBZBT /P TF USBUB DMBSP FTU² EF VOB TFDUB iNF $PO MB MMFHBEB EFM DSJTUJBOJTNP MB NBZP VÀ ÃÌ > Ã Ê >Ê >Þ À >Ê YJDBOBw QBSB TFSMP UFOES½B RVF TFS SFBMNFO S½B EF MB QPCMBDJÂO TF QMFH B FTUB OVFWB SF MJHJÂO IBTUB DPOTUJUVJSTF FO MB GF EPNJOBOUF `iÊ >Ê« L >V ÊÃiÊ« i} Ê UF PSJHJOBM Z QPS MP NJTNP UFOFS PUSP %JPT EF MB /VFWB &TQBÁB Z EFM QPTUFSJPS .¹YJDP >ÊiÃÌ>Ê ÕiÛ>ÊÀi } Ê PUSPT MJCSPT PUSBT FTUSVDUVSBT Z GPSNBT Z OP MBT RVF NVFTUSBO DPO GSFDVFODJB OP PUSB DP QFSP B NFEJBEPT EFM TJHMP 9*9 FM QSPQJP HP CJFSOP NFYJDBOP TF EJP B MB UBSFB EF JOUSPEV >ÃÌ>ÊV ÃÌ ÌÕ ÀÃiÊi Ê >Ê TB RVF VOB QJSBUFS½B FWJEFOUF EF MBT GPSNBT Z DJS FO FM QB½T SFMJHJPOFT EF PSJHFO QSPUFTUBO viÊ` > ÌiÊ`iÊ >Ê FTUSVDUVSBT EFM DBUPMJDJTNP 4JO EVEB RVF FM RVF OBDF QBSB QJSBUB BVORVF MP DVFMHVFO UF B MBT RVF FO MB BDUVBMJEBE TF MFT EFOPNJOB ÕiÛ>Ê Ã«> >°°° -P RVF T½ DPOTUB FT MB NBOFSB FO RVF FM DPOGFTJPOFT DSJTUJBOBT $PO TV MMFHBEB TF JN HPCJFSOP QFTF BM FTUBEP MBJDP QSPUFHF Z QSJ QMFNFOUBCB MB DVMUVSB SFMJHJPTB EF PSJHFO BO WJMFHJB EF NVDIBT GPSNBT Z NPEPT B FTUBT HMPTBKÂO QPS N²T RVF DPOTFSWBSB UPEP VO DPOKVOUP EF FTUSVDUVSBT Z QSJODJQJPT EPDUSJOBMFT DBUÂMJDPT BHSVQBDJPOFT CBKP MPT QSFUFYUPT N²T UPSQFT B UBM QVOUP RVF EBEP RVF UPEBT FTUBT DPOGFTJPOFT TF IBC½BO EFTQSFOEJEP TVT GVODJPOBSJPT TF IBDFO QSFTFOUFT FO MPT FWFOUPT EF FT UBT BTPDJBDJPOFT SFMJHJPTBT QBSB PUPSHBS iSFDPOPDJNJFO EFM USPODP DPNÈO EF MB *HMFTJB FO FM TJHMP 97* " QSJODJQJPT EFM TJHMP 99 DPNJFO[BO B FOUSBS BM QB½T UPTw {$ÂNP B RV¹ {BM ¹YJUP FNQSFTBSJBM {B MB QJSBUFS½B {B OVFWBT EFOPNJOBDJPOFT QSPUFTUBOUFT QFSP BIPSB DPO VO MB EFSSBNB FDPOÂNJDB TFB QPS MB SB[ÂO RVF TFB -B NBSBWJMMB EFM FTUBEP MBJDP FO MPT QB½TFT EPOEF T½ GVFSUF DBS²DUFS OPSUFBNFSJDBOP TPCSF UPEP MBT SFMJHJPOFT MMBNBEBT QFOUFDPTUBMJTUBT DVZB DBSBDUFS½TUJDB SBEJDB FO MB GVODJPOB SBEJDB FO MB DBQBDJEBE EFM HPCJFSOP QBSB OP WJO CÈTRVFEB EF MB FYBMUBDJÂO FNPDJPOBM DPNP VO SFDVSTP QB DVMBSTF B GBWPS EF SFMJHJÂO BMHVOB NFOPT BÈO DVBOEP VOB SB MPHSBS VOB GVFSUF FYQFSJFODJB QTJDPMÂHJDB HSJUBS MMPSBS EFUFSNJOBEB TFDUB FTU² FO DPOUSB EF UPEPT MPT EFN²T QVFT DPOWVMTJPOBSTF QBUBMFBS NBOPUFBS EFTBIPHBSTF FYQBO DPNP EJDF FM EJDIP MPT BNJHPT EF NJT FOFNJHPT TPO NJT EJSTF UJSBSTF BM TVFMP EFTNBZBSTF UPEP DPO CBTF B VO SJU FOFNJHPT UBNCJ¹O NP RVF QPDP B QPDP WB MMFWBOEP EF MB DPNQPTUVSB JOJDJBM BSNBOEP HPO!VOJWB NY BM QBSPYJTNP


%PNJOHP EF BHPTUP EF

&- */'03."%03

1~(*/" #

&/3*26& 50644"*/5 "/"-*45" 10-¶5*$0

"/«-*4*4

&MCB &TUIFS &M BVSB RVF SPEFB B MB FY M¤EFS TJOEJDBM Z TVT SFMBDJPOFT FO MBT BMUBT FTG SBT QPM¤UJDBT EF . YJDP

)

BDF BMHVOBT TFNBOBT FOUSFWJTU¹ B +PT¹ 0TDBS 7BM E¹T RVJFO CVTDB TFS GJTDBM HFOFSBM EF MB OBDJÂO /VO DB PDVMUÂ TVT GJMJBT QPS &MCB &TUIFS (PSEJMMP Z NF EJ KP QVFT BMHÈO UBMFOUP UJFOF MB NBFTUSB TJFNQSF FTU² DPO MPT RVF HBOBO MBT FMFDDJPOFT &O QBDUÂ DPO 7JDFOUF 'PY FO TF BM½P DPO 'FMJQF $BMEFSÂO FO OP PDVMUÂ TVT TJNQBU½BT QPS &OSJRVF 1FÁB /JFUP : BIPSB FO BQPZÂ B "O ES¹T .BOVFM -ÂQF[ 0CSBEPS -P RVF NF EJKP FM TFÁPS 7BME¹T NF FT DBOEBMJ[Â QPS QBSUJEB EPCMF QSJNFSP QPS TV D½OJDB CÈTRVFEB EF TFS GJTDBM B QFTBS EF TV FTUSFDIB SFMBDJÂO DPO &MCB &TUIFS Z TFHVOEP QPS RVF UFO½B SB[ÂO MB EFNPDSBDJB NFYJDBOB IBC½B TJEP NVZ HFOFSPTB DPO MB MJEFSFTB TJOEJDBM &MCB &TUIFS (PSEJMMP TJNCPMJ[B NVDIBT DPTBT &T MB SFQSFTFOUB DJÂO N²T GJEFEJHOB EFM BOJNBM QPM½UJDP RVF SFTJTUJÂ FM EFWFOJS EFNP DS²UJDP $PNP MPT CBODPT HMPCBMFT FO FM TJTUFNB DBQJUBMJTUB &MCB &TUIFS TF IJ[P iUPP CJH UP GBJMw EFNBTJBEP HSBOEF DPNP QBSB GSBDB TBS " USBW¹T EF MB DPOEVDDJÂO EF VO TJOEJDBUP PGJDJBMJTUB EJTQVFTUP B QBDUBS DPO RVJFO GVFSF QBSB NBOUFOFS TVT QSJWJMFHJPT &MCB &TUIFS TF DPOWFSU½B FO CJTBHSB %FUS²T EF FMMB DPOUSPMBCB VO FK¹SDJUP EF NBFT USPT RVF QPE½BO DVCSJS FM UFSSJUPSJP QBSB BTFHVSBS WJDUPSJBT FMFDUPSB MFT 6OB NF[DMB FOUSF NPWJMJ[BDJÂO FTUBCJMJEBE Z MFBMUBE MB DPOWFS U½BO FO VOB GJHVSB QPM½UJDB JOFMVEJCMF *NQVOJEBE Z MFBMUBE TF DBOKFBCBO DBEB TFYFOJP -MFHÂ &OSJRVF 1FÁB /JFUP BM QPEFS EF MB NBOP EF MB QPEFSPTB NBFTUSB : FO TFNBOBT MB PUSPSB BMJBEB TF DPOWFSU½B FO FOFNJHB -B 1(3 TF EJP B MB UBSFB EF DPNFO[BS VOB DBVTB DPOUSB FMMB QPS EFMJO DVFODJB PSHBOJ[BEB Z MBWBEP EF EJOFSP -B NPUJWBDJÂO EFUS²T EF MB RVFSFMMB GVF TJFNQSF FNJOFOUFNFOUF QPM½UJDB &M QFÁBOJFUJTNP DSF½B RVF DPO +VBO %½B[ EF MB 5PSSF HBSBOUJ[BCBO BQPZP TJO GJTVSBT B MB SF GPSNB FEVDBUJWB Z VOB MFBMUBE B QSVFCB EF CBMBT &M S¹HJNFO EFDJEJÂ EJOBNJUBS MB SFMBDJÂO DPO &MCB &TUIFS RVJFO FTUVWP FO QSJTJÂO Z FO BSSBJHP EPNJDJMJBSJP EVSBOUF DBTJ UPEP FM TFYFOJP EF 1FÁB /JFUP 4JO FNCBSHP MP RVF MB QPM½UJDB EB UBNCJ¹O MP RVJUB )BC½B RVF FTQFSBS OVFWPT WJFOUPT QPM½UJDPT QBSB RVF MB TJUVBDJÂO QFOBM EF MB NBFTUSB DBNCJBSB &M NJ¹SDPMFT QBTBEP VO KVF[ MB FYPOFSÂ EF UPEPT MPT DBS HPT Z MB MJEFSFTB WJUBMJDJB EFM 4/5& SFDVQFSBCB TV MJCFSUBE TJO DPOEJ DJPOFT &M DBTP &MCB &TUIFS FT FM FTQFKP EF MPT HSBOEFT GSBDBTPT RVF UF OFNPT DPNP QB½T &O VO TPMP FYQFEJFOUF FO VO OPNCSF QSPQJP TF DPOKVHBO UBOUPT WJDJPT RVF JNQJEFO MB DPOTPMJEBDJÂO EF MB EFNPDSB DJB NFYJDBOB &MCB &TUIFS OP FT MB DBVTB EF OBEB N²T CJFO FT FM T½O UPNB EF BMHP N²T QSPGVOEP -B NBFTUSB FYJTUF QPSRVF OP IFNPT TJ EP DBQBDFT DPNP OBDJÂO EF FSSBEJDBS FM BVUPSJUBSJTNP FM VTP QBSUJDVMBSJTUB EF MBT JOTUJUVDJPOFT QÈCMJDBT Z MB DPSSVQDJÂO UPMFSBEB Z BENJOJTUSBEB QPS FM QPEFS "OBMJDFNPT QVOUP QPS QVOUP &M VTP TFMFDUJWP Z QBSUJEJTUB EF MB KVTUJDJB &M FOSJRVFDJNJFOUP EF &MCB &TUIFS FT FTDBOEBMPTP 4V EFSSPDIF FTU² EPDVNFOUBEP : OP TÂ MP FTP UPEPT TVT DPMBCPSBEPSFT DFSDBOPT HP[BO EF VO OJWFM EF WJEB

8* ", "Ê Ê 1 " Õ iÀ Ê i > >ÀÞ i4F IBDF MP RVF EJHP Z QVOUPw OP QVFEFT OJ EFCFT DVFTUJPOBS MB BVUPSJEBE EF MPT RVF TJFOUFO RVF UPEP FM QPEFS SFDBF FO FMMPT 4FB MB FTQPTB P FM FTQPTP MBT DPTBT TF WBO B IBDFS DP NP FMMPT EJDFO : DVJEBEJUP Z OP TF MFT IBHB DBTP QPSRVF BT½ MFT WB &T NVZ G²DJM DPOWFSUJSTF FO VOB QFSTPOB BVUPSJUBSJB Z E¹T QPUB DPO MPT TFSFT RVFSJEPT QVFT FM IFDIP EF TFS FM QBESF P MB NBESF MFT IB IFDIP DSFFS RVF UJFOFO UPEB MB BVUPSJEBE TPCSF FM PUSP Z EFTEF MVFHP TPCSF MPT IJKPT &M QSPCMFNB FT RVF FM BVUPSJUBSJP QPS TFS FHP½TUB QJFOTB RVF TVT SB[POFT Z BSHVNFOUPT TPO MPT DPSSFDUPT Z MPT EFN²T TF UJFOFO RVF TPNFUFS B FMMPT "T½ RVF MB FTQPTB TF UJFOF RVF EPCMFHBS TJO DVFTUJPOBS OJ EFTBGJBS FM NBOEP EFM FTQPTP : FM NBSJEP QBSB BTFHVSBS TV BV UPSJEBE UJFOF FM DPOUSPM EF MB FTQPTB QPS NFEJP EFM NJFEP : DMB SP RVF NVDIBT WFDFT EFTEF MB FMFDDJÂO EF QBSFKB TF FMJKF B VOB NVKFS QSPQFOTB B TFS NJFEPTB F JOTFHVSB 1BSB EF FTUB NBOFSB BTFHVSBS TV BVUPSJUBSJTNP &O FM GPOEP NVDIPT NBUSJNPOJPT GVODJPOBO BT½ M FT EP NJOBOUF Z FMMB TVNJTB P WJDFWFSTB : IBTUB FTP TF MMFWBO CBTUBO

NVZ TVQFSJPS B MP RVF TVT TBMBSJPT QPES½BO QBHBS -B QSPQJB NBFTUSB TJFNQSF TF IB EFGFOEJEP DPNP iHBUP CPDB BCBKPw EJDJFOEP RVF MPT SF DVSTPT EFM TJOEJDBUP TPO QSJWBEPT Z MBT MFZFT EF USBOTQBSFODJB EFCFO NBOUFOFSTF BM NBSHFO &NQFSP TÂMP EVSBOUF FM UJFNQP RVF "VSFMJP /VÁP FODBCF[Â MB 4FDSFUBS½B EF &EVDBDJÂO 1ÈCMJDB FM 4/5& SFDJCJÂ DBTJ NJM NJMMPOFT EF QFTPT EF SFDVSTPT QÈCMJDPT 4JO FNCBSHP FM &T UBEP IB TJEP TV DÂNQMJDF Z IB QSFGFSJEP DFSSBS MPT PKPT GSFOUF B TVT BCVTPT B DBNCJP EF PCFEJFODJB QPM½UJDB &M QFÁBOJFUJTNP CVTDÂ QPOFSMB USBT MBT SFKBT QPS DPOWFOJFODJB QPM½UJDB OVODB QPS VO DPNQSPNJTP DPO MB KVTUJDJB 1PS FMMP MB JOWFT UJHBDJÂO FT UBO QPCSF &M PCKFUJWP FSB BQBSUBSMB VO UJFNQP USBORVJMJ [BSMB Z QBDUBS TV TBMJEB EF QSJTJÂO 1BSB FTF QSPQÂTJUP FM 1SFTJEFOUF OP EVEÂ FO JOTUSVNFOUBMJ[BS B MB 1(3 QBSB UBMFT QSPQÂTJUPT : TF QSF HVOUBO {QPS RV¹ FYJHJNPT B VO GJTDBM BVUÂOPNP -B ÈOJDB GPSNB EF DPNCBUJS FM VTP QBSUJEJTUB EF MB QSPDVSBDJÂO EF KVTUJDJB FT SFNPWJFO EP FM DPSEÂO VNCJMJDBM RVF VOF BM NJOJTUFSJP QÈCMJDP DPO FM KFGF EFM FKFDVUJWP -PT KVFDFT UBNCJ¹O TF DPOWJFSUFO FO DPNQBSTBT EF FT UB USBHJDPNFEJB &T TJOUPN²UJDP RVF FO .¹YJDP OBEJF TF QSFHVOUÂ TJ FM KVF[ BDFSUBCB FO TV GBMMP RVF MF PUPSHBCB MJ CFSUBE B &MCB &TUIFS TJOP RVF UPEP MP JOUFSQSFUBNPT FO DMB WF QPM½UJDB {FT SFTQPOTBCJMJEBE EF 1FÁB /JFUP Z TV VTP QP M½UJDP EF MB 1(3 P TFS² RVF -ÂQF[ 0CSBEPS JOUFSWJOP QBSB BTFHVSBS MB QVFTUB FO MJCFSUBE EF TV BMJBEB QPM½UJDB -PT GJT DBMFT Z MPT KVFDFT B MBT ÂSEFOFT EF MPT JOUFSFTFT EF MB DMBTF QPM½UJDB 5S²HJDP &MCB &TUIFS DPNP FM T½NCPMP EF MB QFSWJWFODJB EFM TJO EJDBMJTNP DIBSSP PGJDJBMJTUB Z MB JOFYJTUFODJB EFM TJOEJDB MJTNP RVF WFMB QPS MPT JOUFSFTFT EF MPT USBCBKBEPSFT &M TJO EJDBMJTNP RVF TF BDPNPEB BM QPEFS Z PMWJEB RVF EFCF TV SB[ÂO EF TFS B MPT USBCBKBEPSFT -PT TBMBSJPT FO .¹YJDP TPO CBKPT QPS NVDIBT EFDJTJPOFT FOUSF FMMBT MBT RVF PCFEFDFO B MB N²T SBODJB PSUPEPYJB OFPMJCFSBM QFSP OBEJF MF QVFEF RVJUBS DVMQB B MPT TJOEJDBUPT TPNFUJEPT BM QSFTJEFOUF EF UVS OP -PT TJOEJDBUPT FYJTUFO QPS MB BTJNFUS½B EF QPEFS FOUSF FM QBESÂO Z FM FNQMFBEP QFSP FO FM DBTP NFYJDBOP FTUPT HSFNJPT BCPOBO B BNQMJBS BÈO N²T MB CSFDIB FOUSF VOPT Z PUSPT &O .¹YJDP EFUS²T EFM GSBDBTP EF MP QÈCMJDP TJFNQSF IBZ VO HSBO JOUFS¹T RVF JNQJEF MB USBOTGPSNBDJÂO %FUS²T EFM Q¹TJNP USBOTQPSUF QÈCMJDP IBZ EVFÁPT JSSFTQPOTBCMFT Z VO &TUBEP RVF OP TBCF SFHVMBS BT½ DPNP EFGFOEFS FM JO UFS¹T EF UPEPT %FUS²T EF VO TJTUFNB EF TBMVE DPMBQTBEP VOB WFMBEB JOUFODJÂO QPS SFEVDJS BM N½OJNP FM EFSFDIP EF UPEPT B MB TBMVE 0 FO FDPOPN½B EFUS²T EF MPT BMU½TJNPT QSF DJPT FO UFMFGPO½B FTU²O MPT NPOPQPMJTUBT P EFUS²T EF MB JO TFHVSJEBE FTU²O MBT QPMJD½BT JOGJMUSBEBT : RV¹ EFDJNPT EF MB FEVDBDJÂO NVDIB SFTQPOTBCJMJEBE UJFOFO MPT TJOEJDBUPT

ÕÌ À Ì>À Ã Ê ÞÊV ÌÀ UF CJFO IF FTDVDIBEP B NVDIBT NVKFSFT KVTUJGJDBS FM BVUPSJUB SJTNP EF TV NBSJEP QPSRVF QSFGJFSFO WJWJS BT½ RVF DPO FM NJFEP B MB TPMFEBE P BM EFTBNQBSP FDPOÂNJDP RVF TVFMF TFS MB BNFOB [B N²T DPNÈO RVF TJFOUF VOB NVKFS RVF OP FT BVUÂOPNB FDPOÂ NJDBNFOUF 7JWJS EFM NJFEP BM NBSJEP EPNJOBOUF Z DPOUSPMBEPS FT NF OPT HSBWF RVF WJWJS DPO MB TPMFEBE FM GSBDBTP Z MBT EJGJDVMUBEFT FDPOÂNJDBT 1PS FTP QSFGJFSFO BHVBOUBSMP "EFN²T IBZ NVDIPT NPNFOUPT CFMMPT Z DJFSUBT WFOUBKBT RVF DPNQFOTBO MB QFTBEB DBSHB EF VOB QBSFKB BVUPSJUBSJB "EFN²T NVDIBT NVKFSFT JOUFMJHFOUFT BDBCBO QPS BQSFOEFS B MMFWBSTF MB GJFTUB FO QB[ DPO TV NBSJEP NBOEÂO : IBTUB BDB CBO UFOJFOEP MPT SFDVSTPT FNPDJPOBMFT QBSB UBNCJ¹O FMMBT EPNJ OBS FO BMHP B TV FTQPTP -BT RVF OP TPO UBO BGPSUVOBEBT TJ BDBCBO WJWJFOEP VO JO GJFSOP EFM DVBM OVODB FODVFOUSBO MB QVFSUB EF TBMJEB : DJFSUB NFOUF TVGSFO NVDIP -MPSBO Z MMPSBO FO MB USJTUF TPMFEBE TJO TFO UJSTF DPNQSFOEJEBT Z BDPNQBÁBEBT )PNCSFT DPOUSPMBEPSFT Z BVUPSJUBSJPT CVTDBO NVKFSFT TV NJTBT Z EFKBEBT "T½ EF TFODJMMP

DIBSSPT DPNP BM 4/5& QBSB FOUFOEFS MPT QSPCMFNBT FEVDBUJWPT EF .¹YJDP /P T¹ TJ -ÂQF[ 0CSBEPS PQFSÂ QBSB SFTDBUBS B TV BMJBEB P TJ 1F ÁB /JFUP OP QVEP P OP RVJTP TPTUFOFS FM DBTP &M IFDIP FT RVF FM QSFTJEFOUF FMFDUP DBNCJÂ FO BÁPT TV WJTJÂO TPCSF MB NBFTUSB &O Z TF OFHÂ B SFVOJSTF DPO FMMB -ÂQF[ 0CSBEPS TF OFHÂ B QBD UBS &M NBOEBUP RVF SFDJCJÂ -ÂQF[ 0CSBEPS FO MBT VSOBT FT DMBSP Z SP UVOEP OBEB EF SFQSPEVDJS FM WJFKP NPEFMP DMJFOUFMBS Z DPSQPSBUJWJT UB RVF EJP MBSHB WJEB B VOB NVKFS DPNP &MCB &TUIFS -B JMVTJÂO EFM DPOTFOTP RVF TVFMFO WFOEFS MPT QPM½UJDPT UPEPT TPO OFDFTBSJPT FO MPT DBNCJPT FT TÂMP FTP VO FTQFKJTNP -PT DBNCJPT FYJHFO TBDV EJS MBT FTUSVDUVSBT EF VO QB½T : FM MJEFSB[HP EF &MCB &TUIFS TÂMP OPT SFNJUF B MP N²T BNBSHP EFM DPOUSPM DPSQPSBUJWP EF MB FEVDBDJÂO FO .¹YJDP -BT BMJBO[BT DVFTUBO Z MB HFTUJÂO EF MB FEVDBDJÂO FT VOB BTJH OBUVSB RVF -ÂQF[ 0CSBEPS OP QPES² FMVEJS


1~(*/" #

&- */'03."%03 &- */'03."%03

%PNJOHP EF BHPTUP EF

&- */'03."%03 t & #"33&3"

$035&4¶"

0."3 .6º0; : .»/*$" (0/;«-&; &NQF[BSPO DPO UBMMFSFT EF DFSÈNJDB EJCVKP Z QBTFPT BM CPTRVF

5"--&3&4 &M DFOUSP FEVDBUJWP JODMVZF UBMMFSFT EF BHSJDVMUVSB $035&4¶"

&M DFOUSP FEVDBUJWP "-"4 "QSFOEJ[BKF FO -JCFSUBE QSPQPOF VOB GPSNBDJªO N T BMM EF DBMJGJDBDJPOFT FY NFOFT QSFNJPT Z DBTUJHPT TJOP FO FM FTUVEJP FYQFSJFODJBM DPMFDUJWP Z EF SFGMFYJªO

&91&3*&/$*" "-"4 DPOUFNQMB VO SBOHP EF FEBE EFTEF MPT IBTUB MPT B×PT

1PS +PSHF 1¹SF[

"

-"4 "QSFOEJ[BKF FO -JCFS UBE FT VO DFOUSP FEVDBUJWP BM UFSOBUJWP RVF QSPQPOF VOB FEVDBDJÂO DPO VO QFSGJM IPSJ [POUBM MFKPT EFM NPEFMP IBCJ UVBM DPO DBMJGJDBDJPOFT GJKBT &TUF QSPZFDUP TVSHJÂ FO DPO VO HSVQP NVZ EJWFSTP EF QSPGFTPSFT DPO JORVJFUVEFT F JOTBUJTGBD DJPOFT GSFOUF B MB FTDVFMB USBEJDJPOBM WBSJPT UBNCJ¹O NBESFT Z QBESFT EF GBNJMJB .ÂOJ DB (PO[²MF[ VOB EF MBT QFSTPOBT RVF DP NFO[BSPO QMBUJDÂ BM SFTQFDUP i SBNPT NB N²T Z QBQ²T RVF OPT QSFHVOU²CBNPT TJ TFHVJS½BNPT MMFWBOEP B MPT IJKPT B FTPT NJT NPT FTRVFNBT EF BQSFOEJ[BKF DBEB WF[ N²T PCTUBDVMJ[BEPT QPS FM TJTUFNB FTDPMBSy -P QSJNFSP RVF IJDJNPT GVF FTUVEJBS EJTDVUJS Z BOBMJ[BSw -VFHP EF VO QFSJPEP EF JOWFTUJHBDJÂO EVSBOUF VO BÁP EFDJEJFSPO FNQF[BS B IBDFS FTUF DFOUSP EF BQSFOEJ[BKF iIBDFSw VOB QB MBCSB DMBWF RVF SFGJFSF BM IJMP DPOEVDUPS EF "-"4 "OUFT EF MBO[BS FM QSPZFDUP SFWJTB SPO FM DPOUFYUP FO MB DJVEBE i7JNPT FTF WB D½P EF QSPQVFTUBT QBSB KÂWFOFT BEPMFTDFO UFT )BZ DPNVOJEBEFT EF BQSFOEJ[BKF EF NBN²T Z QBQ²T DPO HFOUF RVF RVJFSF DPN QBSUJS MP RVF TBCF QFSP EJSJHJEPT B OJÁPT " BEPMFTDFOUFT OP FODPOUSBNPT BMHP RVF OP GVFSB DPO DBMJGJDBDJPOFT FY²NFOFT JNQP TJDJPOFTw "T½ FNQF[BSPO UBMMFSFT EF DFS²NJDB EJ CVKP QBTFPT BM CPTRVF QBSB BQSFOEFS EF MP RVF FODVFOUSBO FO FTF DPOUBDUP DPO MB NB ESF UJFSSB i6OB DBSBDUFS½TUJDB EF MPT DIBWPT BDUVBMFT FT FTF BJTMBNJFOUP DPO MB OBUVSBMF

[B QPEFS DPOWJWJS DPO VO FOUPSOPw &M WJFSOFT ÈMUJ NP EF DBEB NFT DPNFO[BSPO B IBDFS FTUPT SFDPSSJ EPT DPO +FTÈT .PSFOP FYQFSUP FO MB WJEB OBUVSBM 6OP EF MPT QSJNFSPT PCKFUJWPT BM DSFBS FTUB DP NVOJEBE EF BQSFOEJ[BKF GVF SPNQFS DPO WJDJPT EF MB FEVDBDJÂO USBEJDJPOBM i4JO QSFNJPT OJ DBTUJHPT OP IBZ GBMUBT OJ SFQPSUFT TFOUJNPT RVF FTP FT MP RVF FOBKFOB FM DPOPDJNJFOUP TJ OP IBZ QSFNJP OP MP IB DFO MVFHP P TJ OP IBZ DBTUJHP OP JNQPSUBw *HVBM NFOUF FO FTF TFOUJEP MBT NBUFSJBT OP TF JNQBSUFO MB EJO²NJDB FT VO UBMMFS BCJFSUP QBSB JODFOUJWBS DVFTUJPOBNJFOUPT BQSFOEJ[BKFT Z FYQFSJFODJBT i/P RVFSFNPT USBOTNJUJS FM DPOPDJNJFOUP DPNP MBTUSF NVFSUP RVFSFNPT HFOFSBS QSFHVOUBT IB DFSMPT EVEBS RVF CVTRVFO Z FODVFOUSFO RV¹ RVJF SFO TBCFS TVT JOUFSFTFT &T N²T VOB DPOTUSVDDJÂO OP VOB JNQBSUJDJÂO EF DPOPDJNJFOUPw 0USPT UBMMFSFT TPO TPCSF IJTUPSJB QBOBEFS½B JOHM¹T O²IVBUM FOUSF PUSPT UBOUPT EPOEF MB GVO DJÂO EFM QSPGFTPS OP FT MB EF TFS VO iQPTFFEPS EFM TBCFSw i&TB JEFB FTU² EF TBMJEB B VO DMJD EF EJTUBO DJB FTU² FM DPOPDJNJFOUPw $PO MPT UBMMFSFT EF BHSJ DVMUVSB Z QBOBEFS½B MPT DIJDPT IBO BQSFOEJEP UBN CJ¹O TPCSF FNQSFOEJNJFOUP QVFT ZB QPOFO B MB WFOUB MP RVF QSPEVDFO i2VFSFNPT EFUPOBS RVF T½ QVFEFO ZB UJFOFO VO NPOUÂO EF DBQBDJEBE BVO RVF TFBO NFOPSFT EF FEBEw

$VFTUJPOBS F JNQVMTBS TBCFS &M QFSGJM EF MPT BTJTUFOUFT B "-"4 DPOUFNQMB VO SBOHP FOUSF BÁPT DVBOEP EFKBO MB OJÁF[ IBT UB P BÁPT FO FM VNCSBM EF MB FEBE BEVMUB i-PT RVFSFNPT BDPNQBÁBS FO FM QFSJPEP EF USBOTJDJÂOw -B FYQFSJFODJB DPO MPT QSJNFSPT KÂWFOFT RVF BQSFOEFO FO "-"4 FT NPUJWBEPSB i7JNPT RVF IB C½B VOB BWJEF[ QPS FTF UJQP EF BQSFOEJ[BKF FT VOB DBSBDUFS½TUJDB EF "-"4 BQSFOEFS EJSFDUBNFOUF EPOEF FTU²O MBT DPTBT 0USB FT BQSFOEFS FO DPMFD

0USB GPSNB EF BQSFOEFS

UJWP "T½ TVSHFO QSFHVOUBTw 6O QFSGJM DPNÈO FOUSF MPT KÂWFOFT FT FM EF TFS SFDIB[BEPT FO BMHVOBT FT DVFMBT QSFDJTBNFOUF QPS TFS QSPQPTJUJWPT Z DVFT UJPOBS QPS UFOFS VO JNQVMTP NBZPS EF TBCFS $PO MB QS²DUJDB IBO DPNQSPCBEP RVF MPT UBMMF SFT TF JOUFSSFMBDJPOBO BT½ TFBO EF EJTDJQMJOBT FO BQBSJFODJB EJTUJOUBT i6OP EF MPT WJDJPT EF MB FTDP MBSJ[BDJÂO FT GSBHNFOUBS MPT TBCFSFT &O MB WJEB FT U²O Z OP USBFO MFUSFSP TJ TPO EF DJWJTNP BSUF P FDP MPH½B 2VFSFNPT JS B MB WJEB EFTEF EJGFSFOUFT FTRVJOBT B USBW¹T EF OVFTUSBT QBTJPOFTw 6OB FY QFSJFODJB EF DPMBCPSBDJÂO FOUSF MPT DIJDPT Z EF W½O DVMPT FOUSF MBT EJGFSFOUFT NBUFSJBT FT VO MJCSP RVF QSPEVKFSPO DPO HSBCBEPT Z UFYUPT 0NBS .VÁP[ RVJFO TF JOUFHSÂ DPNP UBMMFSJTUB IBDF BQSPYJNBEBNFOUF VO BÁP QMBUJDÂ i.F FNQF D¹ B JOUFHSBS QPS $JVE"OEBOUFT DPMFDUJWP MJHBEP B "-"4 &O VO FWFOUP NF JOWJUBSPO B UPDBS MB KBSBOB /PT DPOPDJNPT Z FNQFD¹ B QBSUJDJQBS N²T EF MMF OP 4PZ IJTUPSJBEPS UBNCJ¹O DVBOEP FNQF[Â FM QSPZFDUP .POJ NF IJ[P MB JOWJUBDJÂO EF QBSUJDJQBS N²T %FOUSP EFM DPMFDUJWP NF IF JOUFHSBEP DPOGPS NF NF FOBNPSP EFM QSPZFDUP )BZ JEFBT F JORVJF UVEFT RVF UFO½Bw 0NBS DPMBCPSB FO FM UBMMFS UJUVMBEP i5SBWF T½BTw EPOEF MPT DIJDPT TF BEFOUSBO FO MB IJTUPSJB MPDBM FOUSF PUSBT BDUJWJEBEFT %FTEF FM QVOUP EF WJTUB EPDFOUF FM N¹UPEP EF USBCBKP IB TPSQSFOEJ EP B 0NBS QPS FM WBMPS RVF MPT QSPQJPT KÂWFOFT MF EBO B TVT MBCPSFT i&T NVDIP N²T GVFSUF DVBOEP TF SFHVMBO FOUSF FMMPT FT BMHP RVF JODMVTP IF BQSFO EJEP EF FMMPT &T PUSP UJQP EF BVUPSJEBE QPS MB FEBE 1FSP FOUSF FMMPT TF SFHVMBO QPS FKFNQMP TJ EFCJF SPO JOWFTUJHBS TPCSF VO UFNB Z BMHVJFO T½ MP IJ[P DPNQMFUP BMHVJFO N²T RVF MP DPQJÂ MF EBS² QFOB .FKPS FTQFSBO BM TJHVJFOUF UFNB Z T½ JOWFTUJHBS &T QBESF VOP OP QPOF MB WBSB QBSB NFEJSTF FT N²T BVU¹OUJDP FOUSF FMMPTw

&O PUSP SVCSP FO FM EF MB DPOWJWFODJB 0NBS UBNCJ¹O SFTBMUÂ DÂNP TF EJGFSFODJB MB JOUFSBDDJÂO FOUSF MPT BMVNOPT FO MBT TFDVOEBSJBT Z QSFQBSBUP SJBT IBCJUVBMFT Z FO "-"4 i&T PUSP NVOEP .F QB SFDF NVZ WBMJPTP WFS DÂNP JOUFSBDUÈBOw "VORVF TF QVFEF DPNCJOBS DPO MB iFTDVFMB USB EJDJPOBMw QPS MP NFOPT FO MPT UJFNQPT EF BMHVOPT UBMMFSFT MP JEFBM FT RVF MPT KÂWFOFT RVF BDVEBO B "-"4 MP IBHBO EF UJFNQP DPNQMFUP QFOTBOEP FO FM NPEFMP JOUFHSBM RVF QSPQPOFO i/P FTU² QMBOFB EP QBSB RVF FTU¹O ZFOEP B VOB JOTUJUVDJÂO FTDPMB SJ[BEB Z BEFN²T BRV½ &M UJFNQP OP EB DBEB WF[ N²T VOB JOTUJUVDJÂO SFRVJFSF UPEP FM UJFNQP Z FO BMHVOPT DBTPT MPT B½TMB EF MB WJEB /P UJFOFO UJFN QP EF UPDBS VO JOTUSVNFOUP P WJTJUBS B MPT BCVFMPT FTU²O TVNFSHJEPT FO CVTDBS FTF SFOEJNJFOUP DPO MBT UBSFBT "-"4 FT VOB PGFSUB QBSB MPT QBESFT Z DIJ DPT RVF OP RVJFSFO N²T EF MP NJTNP Z RVF EFTFBO BVUPHFTUJPOBS TV BQSFOEJ[BKFw EJKP .ÂOJDB "-"4 BCPHB QPS QPOEFSBS N²T FM DPOPDJNJFO UP Z OP FM iQBQFMw RVF TVQVFTUBNFOUF MP BWBMB -PT BTJTUFOUFT B TVT UBMMFSFT BM JHVBM RVF MBT QFSTPOBT RVF PQUBO QPS FM iIPNFTDIPPMJOHw QVFEFO QSFTFO UBS MPT FY²NFOFT QBSB WBMJEBS FM BQSFOEJ[BKF i"M DVNQMJS BÁPT MB BMUFSOBUJWB QBSB DFSUJGJDBSTF FT FM */&" B MPT TF QVFEFO QSFTFOUBS MPT EF CBDIJ MMFSBUP /PTPUSPT MPT BQPZBNPT TJ FT MP RVF RVJF SFO 1FSP TJO MB MÂHJDB EFM NBFTUSP QFSTJHVJFOEP BM BMVNOPw

4"#&3 .«4 "-"4 SFBMJ[B TVT UBMMFSFT FO EJGFSFOUFT JOTUBMBDJP OFT EFQFOEJFOEP TJ TPO DFSÈNJDB QBOBEFSÓB DJ DMJTNPy BVORVF TV TFEF QSJODJQBM FT -JCFSUBMJB FO 1SJTDJMJBOP 4ÈODIF[ OÞN &M TJHVJFOUF DJDMP DPNJFO[B FM EF BHPTUP

{4F QVFEF FOTF­BS MB GFMJDJEBE 1*9"#":

*OEJB QPOF FO NBSDIB DMBTFT EF CJFOFTUBS FO MPT DPMFHJPT QBSB SFEVDJS FM FTUS T Z MB EFQSFTJªO 1PS $SJTUJOB (BMJOEP &M 1B½T {2V¹ OPT IBDF TFS GFMJDFT .VDIPT SFTQPOEFS²O RVF HBOBS NJMMPOFT FO MB MPUFS½B 0USPT FODPOUSBS FM USB CBKP TPÁBEP FOBNPSBSTF FTDBMBS FM NPOUF )VOUFS FO "MBTLB P QBTBS MB UBSEF FO MB QMBZB TJO IBDFS OB EB -B GFMJDJEBE FT BMHP TVCKFUJWP MP RVF QBSB VOPT FT NPUJWP EF BMFHS½B QBSB PUSPT QVFEF TFS JOTJHOJGJDBO UF &OUPODFT {TF QVFEF FOTFÁBS FTUF TFOUJNJFOUP &O *OEJB FTU²O DPOWFODJEPT EF RVF T½ &M (PCJFSOP EF /VFWB %FMIJ BDBCB EF QPOFS FO NBSDIB FO MPT DPMFHJPT QÈCMJDPT EF MB DJVEBE VOB DMB TF EJBSJB QBSB RVF MPT BMVNOPT EFTDVCSBO DÂNP QVF EFO TFS GFMJDFT $VJEBS FM CJFOFTUBS FNPDJPOBM TF IB DPOWFSUJEP FO QBSUF EFM QSPHSBNB FEVDBUJWP KVOUP B BTJHOBUVSBT USBEJDJPOBMFT DPNP MBT DJFODJBT MB MFO HVB Z MPT JEJPNBT -PT SFTQPOTBCMFT QPM½UJDPT JOUFO UBO DPO FTUB JOJDJBUJWB SFWFSUJS VOB UFOEFODJB NVZ QSFPDVQBOUF 6OP EF DBEB DVBUSP OJÁPT FOUSF Z BÁPT TVGSF EFQSFTJÂO FO *OEJB TFHÈO EBUPT EF MB 0S HBOJ[BDJÂO .VOEJBM EF MB 4BMVE Z MPT FYQFSUPT BTF HVSBO RVF TF EFCF FO QBSUF B MBT QSFTJPOFT RVF TV GSFO FO FM DPMFHJP Z MBT BMUBT FYQFDUBUJWBT RVF SFDBFO TPCSF MPT FTUVEJBOUFT QBSB DPOTFHVJS QMB[B FO MBT VOJ WFSTJEBEFT N²T QSFTUJHJPTBT &O MBT OVFWBT DMBTFT EF GFMJDJEBE EF NJOVUPT EJBSJPT OP TF VTBO MJCSPT EF UFYUP OJ IBZ FY²NFOFT 4F FOTFÁBO U¹DOJDBT EF NFEJUBDJÂO JOUFMJHFODJB FNPDJPOBM Z BDUJWJEBEFT RVF USBUBO EF SFTPMWFS MBT OFDFTJEBEFT NFOUBMFT EF MPT BMVNOPT i&M QSPGFTPS UJFOF RVF FOUSBS FO DMBTF DPO VOB TPOSJTBw TFHÈO DP NFOUÂ B MB $// 3BKFTI +VNBS VOP EF MPT SFTQPOTB

CMFT EFM QSPHSBNB QBSB FYQMJDBS DÂNP TF QVFEF DPO UBHJBS MB BMFHS½B 1FSP {FTP IBDF EF WFSEBE N²T GF MJDFT B MPT BMVNOPT P FT TPMP GBDIBEB &TUF UJQP EF QSPHSBNBT BEWJFSUFO MPT FYQFS UPT OP HBSBOUJ[BO MB GFMJDJEBE TJOP RVF EBO IFSSB NJFOUBT QBSB BGSPOUBS MPT SFWFTFT EF MB WJEB &T QPS FTP RVF FTUBT BDUJWJEBEFT TPO DBEB WF[ VOB QS²DUJDB N²T FYUFOEJEB FO MPT DPMFHJPT EF UPEP FM NVOEP &M NJOEGVMOFTT TF IB DPMBEP FO MBT BVMBT DPNP VOB QS²DUJDB QBSB BGSPOUBS FM FTUS¹T MB BO TJFEBE Z MB EFQSFTJÂO FOGFSNFEBEFT FO BM[B FO USF MPT KÂWFOFT Z OP TPMP EF *OEJB TJOP FO UPEP FM NVOEP *OWFTUJHBEPSFT EF MB 6OJWFSTJEBE EF 4UBO GPSE &O &TUBEPT 6OJEPT QVTJFSPO FO NBSDIB IB DF DVBUSP BÁPT FO MBT FTDVFMBT QÈCMJDBT EF 4BO 'SBODJTDP VO QSPHSBNB QBSB FOTFÁBS NJOEGVMOFTT C²TJDBNFOUF SFMBKBDJÂO DPNCJOBEB DPO ZPHB B USFT NJM BMVNOPT SFTJEFOUFT FO CBSSJPT DPO GMJDUJWPT &TU²O DPNQBSBOEP FTUPT DPMFHJPT DPO PUSPT RVF OP UJFOFO FTUBT BDUJWJEBEFT -PT QSJNF SPT SFTVMUBEPT BQVOUBO B VOB SFEVDDJÂO EFM BCTFO UJTNP "EFN²T MPT OJÁPT EVFSNFO NFKPS 5PEBW½B FT QSPOUP QBSB WFS TJ JOGMVZF FO FM SFOEJNJFOUP BDB E¹NJDP -PT N²T FTD¹QUJDPT BEWJFSUFO RVF BVORVF FTUPT QSPHSBNBT QBSB BZVEBS B MBT QFSTPOBT B HFTUJPOBS TVT FNPDJPOFT QVFEFO TFS TVNBNFOUF QPTJUJWPT IBZ RVF UFOFS FO DVFOUB RVF B WFDFT TF DPOGVOEFO TVT QSPQÂTJUPT DPO VOB DSFDJFOUF PCTFTJÂO JNQPOFS MB GFMJDJEBE

.05*704 &O *OEJB FTUÈO DPOWFODJEPT EF RVF TÓ TF QVFEF FOTF×BS FM TFOUJNJFOUP EF MB GFMJDJEBE


%PNJOHP EF BHPTUP EF

1~(*/" #

&- */'03."%03

&45"4 40/ -"4 13016&45"4 26& 16&%&/ 53"/4'03."3 &- "13&/%*;"+& &/ -" 3&(*»/ 1*9"#":

1*9"#":

1*9"#":

1*9"#":

&- 10%&3 %&- $&3&#30

$-"4&4 .«4 "--« %&- 4"-»/

%"504 (3"#"%04

6/ 4*45&." &%6$"5*70 %& $"-*%"%

1VFEF RVF EFTQVÏT EF DVNQMJS B×PT BQSFOEFS OVFWPT DPODFQUPT F JEFBT TFB NÈT DPNQMJDBEP 7B SJPT FTUVEJPT EFNVFTUSBO RVF MPT OJ×PT Z KØWFOFT BQSFOEFO EF NBOFSB NÈT SÈQJEB DPNQBSBEP DPO QFSTPOBT EF NBZPS FEBE &TUP TJSWF QBSB FYQMJDBS QPS RVÏ MPT OJ×PT BQSFOEFO JEJPNBT EF NBOFSB NÈT TFO DJMMB P JODPSQPSBO OVFWBT UFDOPMPHÓBT EF NBOFSB NÈT SÈQJEB -PT OVFWPT IBMMB[HPT TPCSF FM DFSFCSP IVNBOP UJFOFO VO MVHBS QSPNJOFOUF FO FM GVUVSP EF MB FEVDBDJØO -PT FYQFSUPT TPTUJFOFO RVF MB NBOFSB FO RVF FM DFSFCSP BQSFOEF Z QSPDFTB MB JOGPSNBDJØO UJFOF RVF TFS FM OVF WP QBSBEJHNB QBSB VOB SFGPSNB FEVDBUJWB FTQFDJBM NFOUF QBSB JNQVMTBS MB BMGBCFUJ[BDJØO Z FM EFTBSSPMMP DPHOJUJWP EF MPT OJ×PT &O MB NBZPSÓB EF MPT QBÓTFT QSÈDUJDBT EF FOTF×BO[B PCTPMFUBT MJNJUBO MB DBQBDJEBE EF BQSFOEJ[BKF BM DFO USBSTF FO DPOUFOJEPT OP WJODVMBOUFT Z EF NFNPSJB FO MVHBS EF FOGPDBSTF FO IBCJMJEBEFT Z DPNQFUFODJBT

-BT OVFWBT UFDOPMPHÓBT QVFEFO BZVEBS B FMJNJOBS DVBMRVJFS CB SSFSB RVF FWJUF FM BQSFOEJ[BKF -PT DVSTPT POMJOF NBTJWPT Z BCJFS UPT P .00$ QPS TVT TJHMBT FO JOHMÏT QFSNJUFO BTJTUJS B MBT NÈT TFMFDUBT JOTUJUVDJPOFT FEVDBUJWBT DPO VO TPMP DMJD EF EJTUBODJB :B TFB RVF FTUÏT JOUFSFTBEP FO DJVEBEFT Z EFTBSSPMMP VSCBOP P MB IJTUPSJB EF MB 4FHVOEB (VFSSB .VOEJBM FTUBT IFSSBNJFOUBT EJTQP OJCMFT FO NÞMUJQMFT JEJPNBT QVFEFO BZVEBS B QFSTPOBT DPO BDDF TP MJNJUBEP B MB FEVDBDJØO 6OB GPSNBDJØO JOUFSBDUJWB WJSUVBM Z QSÈDUJDB QSPNVFWF FM BQSFOEJ[BKF DPOUJOVP B MP MBSHP EF MB WJEB SFTQFUBOEP MPT JOUFSFTFT Z OFDFTJEBEFT EF DBEB QFSTPOB -B UFDOPMPHÓB UBNCJÏO QFSNJUF TJNQMJGJDBS MBT EVEBT NÈT DPNV OFT &M VTP EF JOUFMJHFODJB BSUJGJDJBM *" QFSNJUF TPMVDJPOBS MBT EV EBT NÈT DPNVOFT EF MPT FTUVEJBOUFT ZB TFB TPCSF UBSFBT P DPO TVMUBT BENJOJTUSBUJWBT 6UJMJ[BOEP IFSSBNJFOUBT TJNJMBSFT B MPT BTJTUFOUFT WJSUVBMFT QSFTFOUFT FO MB NBZPSÓB EF MPT UFMÏGPOPT DFMV MBSFT EJWFSTPT DFOUSPT FEVDBUJWPT ZB FTUÈO JODPSQPSBOEP TFSWJ DJPT EF BTFTPSBNJFOUP BVUPNÈUJDPT RVF QFSNJUFO VOB NFKPS EF UFDDJØO EF QSPCMFNBT Z DPOTVMUBT GSFDVFOUFT QBSB BTÓ MVFHP NFKPSBS MPT TFSWJDJPT EF UVUPSÓBT Z MPT DVSTPT EJDUBEPT

4J CJFO MPT DFSUJGJDBEPT UÓUVMPT Z EJQMPNBT QVFEFO EFDPSBS DVBMRVJFS QBSFE EPOEF TF DVFMHVFO OP OF DFTBSJBNFOUF FT MB NBOFSB NÈT DPOWFOJFOUF EF BTFHVSBS MB JOUFHSJEBE Z WBMJEF[ EF MPT NÏSJUPT BDB EÏNJDPT DPOTFHVJEPT 5FDOPMPHÓBT EF WBMJEBDJØO EF EBUPT DPNP MB DBEFOB EF CMPRVFT P CMPDLDIBJO FO JOHMÏT DSFBO PQPSUV OJEBEFT QBSB MB EFTDFOUSBMJ[BDJØO BENJOJTUSBUJWB JODSFNFOUBO MB USBOTQBSFODJB Z MB FGFDUJWJEBE B MB WF[ RVF FWJUBO MB CVSPDSBDJB JOOFDFTBSJB Z SFEVDFO DPTUPT i-PT NJHSBOUFT QPS FKFNQMP UJFOFO IBCJMJEBEFT P DSFEFODJBMFT FEVDBUJWBT RVF EFTFBO SFDPOPDFS FO TVT OVFWPT QBÓTFT 1SPUFHFS FTUPT EBUPT EF NBOFSB TFHVSB F JOEFTUSVDUJCMF FT BZVEBS B MBT QFSTPOBT QPCSFT Z WVMOFSBCMFT B QBSUJDJQBS EF NBOFSB NÈT FRVJUBUJWB FO MB FDPOPNÓB HMPCBMw DPNFOUB FO TV CMPH )BSSZ 1BUSJOPT FYQFSUP EFM #BODP .VOEJBM FO &EVDBDJØO

6OB FEVDBDJØO EF DBMJEBE FT VOB EF MBT GPSNBT NÈT FGFDUJWBT QBSB RVF MPT QBÓTFT QVFEBO SFEVDJS MB QPCSF[B Z QPUFODJBS FM DSFDJNJFOUP FDPOØ NJDP %FTBGPSUVOBEBNFOUF EBUPT EFM #BODP .VOEJBM TF×BMBO RVF TPMP FM EF MPT FTUVEJBOUFT MBUJOPBNFSJDBOPT EF FTDVFMB QSJNBSJB BM DBO[BO MPT SFTVMUBEPT FTQFSBEPT QBSB TV FEBE FO NBUFNÈUJDBT -PT EBUPT TPO BÞO NÈT QSFPDVQBOUFT QBSB MPT HSVQPT NÈT WVMOFSB CMFT FO .ÏYJDP QPS FKFNQMP FM EF MPT FTUVEJBOUFT NBUSJDVMBEPT FO MPT QSJNFSPT B×PT FO MBT FTDVFMBT JOEÓHFOBT PCUVWP VOB DBMJGJDBDJØO QPTJUJWB FO MB FWBMVBDJØO FTUVEJBOUJM OBDJPOBM B EJGFSFODJB EFM QB SB MPT NBUSJDVMBEPT FO MBT FTDVFMBT HFOFSBMFT 4FHÞO FM #*% TJ CJFO IB BVNFOUBEP MB UBTB QSPNFEJP EF HSBEVBDJØO EF FEVDBDJØO TFDVOEBSJB FOUSF Z EPT EF DBEB FTUVEJBOUFT QPCSFT EF MB SFHJØO MPHSBSPO DPNQMFUBS FM DJDMP GSFOUF B EF DBEB EF MPT FTUVEJBOUFT EF IPHBSFT DPO NÈT JOHSFTPT &TUBT DVBUSP UFOEFODJBT SFRVJFSFO EF BUFODJØO QPS QBSUF EF MPT HPCJFS OPT GBNJMJBT Z FTUVEJBOUFT OP FT TVGJDJFOUF TPMP DPO BVNFOUBS FM HBT UP TJOP RVF TF EFCFO IBDFS JOWFSTJPOFT JOUFMJHFOUFT FRVJUBUJWBT Z NF EJCMFT RVF QFSNJUBO EFUFDUBS RVÏ QPMÓUJDBT GVODJPOBO Z DPNQBSBSMBT DPO PUSBT QSÈDUJDBT JOUFSOBDJPOBMFT

$VBUSP UFOEFODJBT RVF QVFEFO USBOTGPSNBS MBT BVMBT EF "N¥SJDB -BUJOB

*-6453"$*»/ t 1*9"#":

/VFWBT IFSSBNJFOUBT CVTDBO NFKPSBS MB DBMJEBE Z BMDBODF EF MB FEVDBDJªO QBSB MPT KªWFOFT EF MB SFHJªO

1PS -FBOESP )FSO²OEF[ &M 1B½T {$ÂNP JNBHJOBT RVF TFS²O MBT BVMBT EFM GVUVSP {"QSFOEFS²O UVT IJ KPT Z OJFUPT EF MB NJTNB NBOFSB FO RVF UÈ MP IJDJTUF 1VFEF RVF MBT IFSSBNJFOUBT RVF NPEFMFO MBT FTDVFMBT EFM NBÁBOB ZB IBZBO TJEP JO WFOUBEBT 4JO FNCBSHP QPDP IB DBNCJBEP FO U¹SNJOPT EF MPT EFTBG½PT EFM TJTUFNB FEVDBUJWP TFHÈO EBUPT EF MB 6/&4$0 NJMMPOFT EF OJ ÁPT Z KÂWFOFT OP WBO B MB FTDVFMB Z DJFOUPT EF NJMMPOFT EF KÂWFOFT TPO BOBMGBCFUPT &O "N¹SJDB -BUJOB VOP EF DBEB DJODP KÂWFOFT EF FOUSF Z BÁPT OP FTU² FO FM TJTUFNB FEVDBUJWP Z FM EF FMMPT QSPWJF OF EF MPT TFDUPSFT N²T QPCSFT %F BDVFSEP DPO FM *OGPSNF EF %FTBSSPMMP .VOEJBM EFM #BODP .VO EJBM DPO DBEB BÁP BEJDJPOBM EF FTDPMBSJ[BDJÂO MPT JOHSFTPT EF VOB QFS TPOB BVNFOUBO FOUSF VO Z VO FTQFDJBMNFOUF FO FM DBTP EF MBT NVKFSFT 1FSP OP CBTUB DPO TPMP JS B MB FTDVFMB TF OFDFTJUB VOB FEVDBDJÂO EF DBMJEBE RVF MFT E¹ B MPT KÂWFOFT MBT IFSSBNJFOUBT OFDFTBSJBT QBSB BGSPO UBS VO NFSDBEP MBCPSBM DBEB WF[ N²T DPNQFUJUJWP 'PSNBT JOOPWBEPSBT EF FOTFÁBO[B Z OVFWBT UFDOPMPH½BT QVFEFO BZVEBS B TVQFSBS FTUPT EFTBG½PT Z NFKPSBS FM NBÁBOB &M VTP EF MBT NJTNBT QPUFODJBS½B MB FEVDBDJÂO DPNP NPUPS EF EFTBSSPMMP QBSB DPO USBSSFTUBS MB EFTJHVBMEBE Z SFEVDJS MB QPCSF[B FO "N¹SJDB -BUJOB Z FM $BSJCF

Ê /1, -ÊÊ 6 , -

, "Ê Ê1 Ê -* / ", Õ> Ê*> >À "UNPTG¹SJDBT &M KBSE½O OVODB WJTUP QPS OBEJF /P FTU² FO OJO HVOB QBSUF OP UJFOF QFTP OJ NBUFSJB 7VFMB TF FTGVNB BQBSF DF EF SFQFOUF QFSP OPN²T QBSB MPT PKPT EF MPT OJÁPT .JEF USFT QBTPT QPS DVBUSP FO FEJGJDJPT MBTUJNPTPT EF MB [POB WJFKB EF .F EFMM½O OVFWF NFUSPT DVBESBEPT FO VO DIBMFU SJE½DVMP EF MB QF PS CBOMJFV EF 1BS½T EPT WBSBT FO VO CBMDÂO EF $BMDVUB VO DVB ESP N½OJNP FO VOB B[PUFB EF 4BOUB 5FSFTJUB VOB KBSEJOFSB SFEPOEB FO MB FTRVJOB EF +VBO $BOP Z &TUVEJBOUFT FO .¹YJDPy -PT DBNQPT EF HPMG QPS FKFNQMP OP TPO KBSEJOFT TPO MVHBSFT EF QFEFTUSFT OFHPDJPT Z BSEVBT Z QFDVMJBSFT DPNQFUFODJBT NV DIBT WFDFT QPS EJOFSP -BT QSJODFTBT EF MPT DPVOUSJFT TF BQSF TVSBO B DPNQSBS EFQBSUBNFOUPT N²T P NFOPT BQFÁVTDBEPT FO UPSSFT N²T CJFO QSFUFOTJPTBT QFSP DPO iCFMM½TJNB WJTUBw BM HPMG 4F FOHBÁBO 6O DBTP IBZ EF VOB DBTB RVF FTU² FOUSF VOP EF FT UPT DBNQPT EF HPMG Z VO N½OJNP QBSRVFDJUP USJBOHVMBS Z HSBDJP TP {B EÂOEF TBDB MB QSJODFTB EFM DBTP B IBDFS QJQJ B TVT QFSSPT {%ÂOEF KVFHBO MPT OJÁPT Z TF CFTBO EFTBGPSBEBNFOUF MPT FOB NPSBEPT &O FM QBSRVFDJUP QPS TVQVFTUP &M DBNQP EF HPMG FT VOB CFO¹GJDB FYUFOTJÂO EF [BDBUF Z ²SCPMFT QVOUP &M E½B FO RVF FTPT SFDJOUPT QBSB HFOFSBMNFOUF OVFWPT SJDPT UFOHBO VO TFO UJEP TPDJBM Z TF BCSBO B MB HFOUF DPNFO[BS²O B TFS KBSEJOFTy B MP NFKPS QBTB FTUP DPO MPT OVFWPT UJFNQPT QPM½UJDPT EF MPT RVF WBHBNFOUF MMFHBO OPUJDJBT IBTUB MB Q¹SHPMB 1FSP FTU²CBNPT FO MP EFM KBSE½O OVODB WJTUP +VSB FM WJFKP NBFTUSP KBSEJOFSP RVF FO TV KBSE½O TF BQBSFDJÂ VOP 6O KBSE½O EFOUSP EF VO KBSE½O 1FSP MVFHP MP CVTDÂ Z ZB OP MP IBMMÂ %JDF RVF PM½B B NBESFTFMWB Z MBNB RVF TV QBWJNFOUP FSB EF CBSSP Z UFO½B VOBT DVSJPTBT CBODBT EF MBESJMMPT VO NVSNVMMP BQFOBT BVEJCMF EF BHVB %JDF BEFN²T RVF FO VO NVSP UFO½B SBSBT JOT DSJQDJPOFT JOEFTDJGSBCMFT TPCSF QJFESBT FNQPUSBEBT "[PSB EPT NBFTUSP Z BQSFOEJ[ MP CVTDBSPO PUSB WF[ OBEB 4F TFHVJ S² JOGPSNBOEP 'PUP EF +PTF %²WJMB -P RVF GBMUB QPS WFS 1PNQFZB 4BO .JDIFMMF $BTB .BMB QBSUF FM QBMBDJP EFM (BUPQBSEP FO 1BMFSNP Z FM EF %POBGVHB UByMB JTMB EF *TDIJB "NBMGJ Z TV DPTUB WFSUJHJOPTB 5BOUB DPTB RVF VO QJF QBSUJEP DBODFMB 1FSP PUSPT EPOFT USBF FM DJFMP B DBN CJP USFT P DVBUSP E½BT CBKP VOB Q¹SHPMB FO VOB B[PUFB OBQPMJ UBOB VOB NVDIBDIB SPKB Z CFMM½TJNB RVF MMFHBCB BM BUBSEFDFS B QSFQBSBS MPT TQSJU[ B DPOUBS TVT NBSBWJMMBT "T½ TFS² QPS TJFN

>À >Ê*> >À

$035&4¶" t +04& %«7*-"

QSF MB 1SPWJEFODJB TBCF TVT DBNJOPT FM HVBSEBHVKBT TF HVBS EB TVT EFTJHOJPT Z MPT USFOFT DPSSFO QPS MB OPDIF TJO NVZ CJFO TBCFS B EÂOEF WBO -P RVF FT UFO½B RVF TFS UPEP MP QBTBEP GVF OFDFTBSJP Z FM GVUVSP TFS² MP RVF IBCS² EF TVDFEFS JOFMVDUBCMF NFOUF EJDF FO BMHVOB QBSUF -BP 5TF /P TF HPCJFSOB BQFOBT OBEB FO DVBMRVJFS JOTUBOUF VO JHOPSBEP BOFVSJTNB QVFEF EF UFOFS QBSB TJFNQSF FTUPT QSFDJTPT SFOHMPOFT "I QFSP /²QPMFT UBO UBQBU½B Z (VBEBMBKBSB UBO OBQPMJUB OB : RVJFO OP MP DSFB RVF TF BOJNF Z WBZB -BT NVKFSFT N²T FT QMFOEPSPTBT FTU²O FO BNCBT QVOUBT EFM DBNJOP $POUJOVBDJÂO FO XXX JOGPSNBEPS DPN NY

·"ÌÀ>Ê}À> ÊiÃv }iÊi Ê } «Ì ¶ &O MPT E½BT SFDJFOUFT MB QSFOTB JOUFSOBDJPOBM QVCMJDB RVF MPT PCSFSPT RVF USBCBKBO FO VO QSPZFDUP WJBM DPNFO[BEP EFTEF EFTDVCSJFSPO VOB FTGJOHF FO MB DBM[B EB RVF VOF MPT UFNQMPT EF -VYPS Z ,BSOBL DPOTUSVJEPT BMSFEFEPS EF BÁPT "$ FO FM "MUP &HJQUP B VOPT EJF[ LJMÂNFUSPT EFM 7BMMF EF MPT 3FZFT EPOEF TF FO UFSSBCB B MPT GBSBPOFT 1FSP UBM QBSFDF RVF FTUB FTGJOHF QPES½B TFS NVDIP N²T WJF KB RVF MPT UFNQMPT Z SFNPOUBSTF RVJ[²T IBTUB FM BÁP "$ EVSBOUF FM SFJOP EFM GBSBÂO ,FGS¹O FT EFDJS RVF UFOES½B N²T EF DVBUSP NJM BÁPT -PT BSU½DVMPT OP JOGPSNBO HSBO DPTB TÂMP RVF TF UVWP RVF TVTQFOEFS MB PCSB EF SFNPEFMBDJÂO EF MB DBM[BEB BM UPQBSTF FO FM TVCTVFMP DPO iVOB HSBO FTDVM UVSBw DPO DVFSQP EF MFÂO Z DBCF[B EF NVKFS -BT QPDBT GPUPT RVF TF IBO QVCMJDBEP OP SFWFMBO NVDIP QPSRVF OBEB N²T TF WF VO GSBHNFOUP FOUFSSFHBEP RVF TBMF B MB TVQFSGJDJF 1BSB MPT BOUJHVPT FHJQDJPT MB FTGJOHF FTUBCB SFMBDJPOBEB DPO MPT SFZFT QVFT FM DVFSQP EFOPUBCB MB GVFS[B Z MB GFSPDJEBE EFM MFÂO NJFOUSBT RVF FM SPTUSP IVNBOP SFQSFTFOUBCB MB JOUFMJHFODJB MB QSVEFODJB Z MB SFGMFYJÂO 5BM QBSFDF RVF UFO½B RVF WFS DPO 4FLINFU VOB EFJEBE TPMBS RVF TF SFQSFTFOUBCB DPNP MFPOB 5BNCJ¹O TF MF BTPDJBCB DPO MB WJEB EFTQV¹T EF MB NVFSUF QPS MP RVF TF IBMMB QJO UBEB FO NVDIBT UVNCBT )BZ FTGJOHFT EF UPEPT UBNBÁPT BMHVOBT DPO DBCF[B EF IPNCSF P NVKFS PUSBT EF IBMDÂO IJFSBDPFTGJOHFT P DBSOFSP DSJPD¹GBMBT B WF DFT FDIBEBT PUSBT WFDFT TFOUBEBT &O MB NJUPMPH½B HSJFHB UBNCJ¹O IBZ FTGJOHFT DPNP MB RVF &EJQP WFODJÂ BM SFTPMWFS FM BDFSUJKP {RV¹ BOJNBM BOEB B HBUBT QPS MB NBÁBOB FO EPT QJFT B NFEJP E½B Z FO USFT QPS MB UBSEF 1BSB MPT HSJFHPT MBT FTGJOHFT FSBO FTQ½SJUVT NBMJHOPT DPNP MBT TJSFOBT FO FM NBS RVF DBOUBCBO QBSB QFSEFS B MPT IVNBOPT &O MBT QJO UVSBT HSJFHBT TVFMFO UFOFS BMBT Z HBSSBT EF BWFT EF SBQJÁB 1PS TVQVFTUP RVF MB FTGJOHF N²T DPOPDJEB Z MB N²T FOPSNF NFUSPT EF MPOHJUVE Z EF BMUVSB FT MB RVF UPEP NVOEP IB WJTUP MB RVF FTU² FOUSF MBT HSBO EFT QJS²NJEFT EF MB NFTFUB EF (VJ[B FO MB SJCFSB PDDJEFOUBM EFM /JMP Z OP MFKPT EF &M $BJSP ¹TUB TF IJ[P FO FM TJHMP 997* "$ 3FTVMUB EJG½DJM DSFFS RVF MB SFDJ¹O EFTDVCJFSUB FTGJOHF EF -VYPS QVFEB TFS N²T HSBOEF RVF MB EF (VJ[B QFSP IBCS² RVF FTQFSBS B RVF MPT BSRVFÂMPHPT EFTUB QFO VO QPDP N²T EF MB FTDVMUVSB 1PS MP QSPOUP MB PCSB EF MB DBM[BEB RVFEÂ JOUF SSVNQJEB RVJ¹O TBCF IBTUB DV²OEP &M %JSFDUPS (FOFSBM EF "OUJHÊFEBEFT EFM HP CJFSOP FHJQDJP .PIBNFE "CFM "[J[ EJKP RVF MB FTUSVDUVSB TF UFOES² RVF JS MJCFSBOEP QPDP B QPDP EF UPEB MB UJFSSB Z MBT QJFESBT FO RVF TF GVF TVNJFOEP B MP MBSHP EF MPT TJHMPT QFSP EF DVBMRVJFS NPEP DPNP FT VOB PCSB B DJFMP BCJFSUP Z B NFEJB DJVEBE EF -VYPS MB HFOUF QVFEF BTPNBSTF Z WFS MP QPDP RVF IBZ RVF WFS UP EBW½B


1~(*/" #

&- */'03."%03 &- */'03."%03

%PNJOHP EF BHPTUP EF

*$0/0 -B OBSJ[ SPKB KVOUP B MPT [BQBUPT FOPSNFT EJTUJOHVF FO DVBMRVJFS QBSUF EFM NVOEP B MPT QBZBTPT

)6.03 FOUSF FM DBPT

40313&/%&/ 6OB QBMBCSB VO HFTUP VOB NJSBEB FMMPT UJFOFO TJFNQSF MB SFTQVFTUB QBSB BMFHSBS FM EÓB

63#"/0 '0504 &- */'03."%03 t " ("3$¶"

*."(&/ 4V WFTUJNFOUB FT TV UBSKFUB EF QSFTFOUBDJØO QPS FMMP FT RVF FT UBO JNQPSUBOUF NBOUFOFSTF QVMDSPT EFTEF MPT [BQBUPT IBTUB MB OBSJ[

1FSTPOBKFT RVF QJOUBO MB DJVEBE DPO TV BMFHS¤B 1PS "MGSFEP (BSD½B "OESBEF

."-"#"3&4 /P TØMP DVFOUBO DIJTUFT MPT QBZBTPT VSCBOPT CVTDBO HBOBSTF VOB NPOFEB DPO USVDPT EF UPEP UJQP

-

&41&3" $VBOEP FM TFNÈGPSP TF QPOF FO SPKP FT NPNFOUP EF RVF MPT QBZBTPT VSCBOPT SPN QBO MB SVUJOB Z SFBMJDFO TV MBCPS

3045304 /P JNQPSUB MB FEBE MBT HBOBT EF TBMJS BEF MBOUF FNQVKBO B NVDIPT B DPOWFSUJSTF FO QBZBTPT

B NFUSÂQPMJ TJFNQSF PMWJEB TVT DB MMFT 1PDP TF EFTW½B MB NJSBEB BOUF MBT QSJTBT Z MB VSHFODJB QPS MMFHBS EF VO QVOUP B PUSP "I½ TVTQFOEJEPT FO FM UJFNQP IBCJUBO MPT QBZBTPT RVF TF HBOBO MB WJEB FOUSF DSVDF SPT IBDFO TVFSUFT DJSDFOTFT DVFOUBO IJTUPSJBT HSBDJPTBT P TJNVMBO TFS NJNPT QBSB QSPWPDBS VOB TPOSJTB Z HBOBSTF MB WJEB 3PNQFO MB SVUJOB DPO TVT SPQBT NVMUJDPMP SFT MP FYBHFSBEP EF TV NBRVJMMBKF Z TV BOEBS QBV TBEP 7JWFO DPO VOB OBSJ[ SPKB Z MB TPOSJTB UBUVB EB FO FM SPTUSP &TU²O BI½ KVTUP BM MBEP EF MB WFOUBOJMMB EFM DPDIF B MB FTQFSB EF VO HFTUP EF VOB NVFDB Z EF VOB NPOFEB QBSB DPOUJOVBS TV MBCPS IBDFS N²T GFMJ[ FM E½B B E½B EF UPEPT

'&-*; -P JNQPSUBOUF FT OVODB QFSEFS MB TPOSJTB

$0-03&4 &M USBKF FT WJUBM FO MB MBCPS OP DVBMRVJFSB MP QVFEF QPSUBS DPO MB EJHOJ EBE EF RVJFO FTUÈ EJTQVFTUP B IBDFS SFÓS B MPT PUSPT


Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.