5 5&/%&/$*"4]@5H9F79F5]4»CBEPEFPDUVCSFEF $SBDPWJBMBBOUJHVBDJVEBEQPMBDB NVFTUSBTVDBSBN»TKPWFO 6OBDJVEBEDPOBËPTEFIJTUPSJBRVFWJWJÍNPNFOUPTEFFTQMFOEPSZPUSPTEF EFTPMBDJÍO1FSPBEFN»TTFIBDPOWFSUJEPFOVOOVFWPMVHBSEFFOUSFUFODJÍOQBSBMPT KÍWFOFTHSBDJBTBMBNPWJEBBSUÇTUJDBZOPDUVSOBEFTVCBSSJPKVEÇP5&950:'0504$BSPMJOB3FZNÔOEF[ 4 5"3&.*"450BTÇTFEJDF DBTDPBOUJHVPFOQPMBDP" EJGFSFODJBEFMDFOUSPWJFKPEF 7BSTPWJBRVFGVFEFTUSVJEP EVSBOUFMB4FHVOEB(VFSSB .VOEJBMZSFDPOTUSVJEPQVO UJMMPTBNFOUFFMEF$SBDPWJBFTHÍUJDPSF OBDFOUJTUBCBSSPDPZPSJHJOBM"NCPTTPO 1BUSJNPOJP.VOEJBM -BNBZPSÇBEFMPTFEJGJDJPTFTU»QSPUFHJ EB)BZUFNQMPTBDUJWPTWBSJPTNV TFPTrJODMVJEPFMEFMPTQSÇODJQFT$[BS UPSZTLJRVFHVBSEB-BEBNBEFMBSNJËP FMGBNPTPDVBESPQJOUBEPQPS-FPOBSEP EB7JODJFOrUFBUSPTDBGÃTSFTUBV SBOUFTFTUSJDUBTSFHMBTQBSBDPOTUSVJSTB MBTEFDPODJFSUPZTÍUBOPTRVFRVFEBSPO EFMBÃQPDBNFEJFWBM4FVTBCBOQBSB HVBSFDFSTFEFMGSÇP"MHVOPTTFIBODPO WFSUJEPFOSFTUBVSBOUFTEPOEFTFDPNFB MBMV[EFMBTWFMBT %FMNJMMÍOEFIBCJUBOUFTRVFUJFOFMB DJVEBErFTMBTFHVOEBEFTQVÃTEF7BSTP WJBrQPDPTWJWFOQPSBRVÇ&TVOB[POB DBSB-PTSFTJEFOUFTFTU»OVCJDBEPTEFM PUSPMBEPEFM1MBOUZVOBOJMMPEFDVBUSP LJMÍNFUSPTEFQBSRVFTRVFSPEFBFMDBTDP WJFKPEFTEFZPDVQBFMMVHBSEFMB NVSBMMB 1PSN»TRVFVTFFMNBQBNFQJFSEPZ NFWVFMWPBQFSEFS$BTJTJFNQSFUFSNJOP FO(SPE[LB:BBQSFOEÇRVFFTUBDBMMFNF MMFWBB3ZOFL(MPXOZMBQMB[BNFEJFWBM N»THSBOEFEF&VSPQB #BKPFMSFJOBEPEFMSFZ$BTJNJSP&M (SBOEF$SBDPWJBTFDPOWJSUJÍFODBQJUBM EF1PMPOJBrIBTUBFMTJHMP97*rZFOMPT BËPTTJHVJFOUFTGMPSFDJFSPOMBTBSUFTZMBT DJFODJBT4FDSFÍMB6OJWFSTJEBE+BHFMMÍ OJDBRVFIBTUBIPZFTMBN»TJNQPSUBOUF EFMQBÇTTFDPOTUSVZÍFM.FSDBEPEF1B ËPTMB5PSSFEFM"ZVOUBNJFOUPrEFTEF BSSJCBBNQMJBTWJTUBTEFMBDJVEBErMB JHMFTJBEF4BOUB.BSÇBDPOVONBSBWJMMP TPBMUBSHÍUJDPZVOBUPSSFEPOEFBDBEB IPSBEFTEFIBDFBËPTTFUPDBFM IJNOPDPOUSPNQFUB &OEFTQVÃTEFMBUFOUBEPDPOUSB +VBO1BCMP**N»TEFQFSTPOBT MMFOBSPOMBQMB[BFOVOBNBSDIBEFMTJ MFODJP&OMBBDUVBMJEBEBEFN»TEFTFS NVZDBUÍMJDBHSBOQBSUFEFMBTPDJFEBE EF$SBDPWJBFTKVBOQBCMJTUB,BSPM8PKUZ MBQBTÍBËPTFOMBDJVEBEGVFFTUV EJBOUFDVSBPCJTQPZDBSEFOBMBOUFTEF QBSUJSBM7BUJDBOPFO%FKÍVOBFTUF MBEFDBSJËPZDBEBWF[RVFWPMWJÍMPSFDJ CJFSPODPOFNPDJÍO5BOUPBTÇRVFFYJTUF VOBSVUBRVFTJHVFTVTQBTPTEÍOEFUSB CBKÍDPNPPCSFSPEÍOEFFTUVEJÍZWJWJÍ DVBOEPFSBTFNJOBSJTUBRVJÃOMPDVJEÍ EFTQVÃTEFMBDDJEFOUFDVBOEPMPBUSPQF MMÍVODBNJÍOBMFN»OFOEÍOEFEJP TVQSJNFSBNJTBZEÍOEFBDUVÍ-BMJTUB EFMVHBSFTQPESÇBMMFOBSMBBHFOEBEFVOB WJTJUBB$SBDPWJB &MDBTUJMMPEF8BXFM 1PS,BOPOJD[BIBDJB8BXFMDV»OUPTIB CS»OIFDIPFTUFDBNJOPEFTEFFM 4POQPDBTDVBESBTDPOWBSJPTFEJGJDJPT FDMFTJ»TUJDPTQPSUBMFTCBSSPDPTZMBJHMF TJBSPN»OJDBEF4BO"OESÃTVOBEFMBT N»TBOUJHVBTEFMBDJVEBE/VFWBNFOUF NFDSV[PDPODVSBTZNPOKBTDPOUÔOJDB B[VMHSJTDBGÃOFHSPZCMBODP.»TUBS EFNFFOUFSPEFRVFFOMBDJVEBEIBZ N»TEFWFJOUFNPOBTUFSJPTNBTDVMJOPTZ EJF[GFNFOJOPT %FTQVÃTEFUSFQBSVOBDPMJOBFNQJOB EBFMDBTUJMMP5JFOFVOBIJTUPSJBJOUFO TBMJHBEBBMEFWFOJSEFMQBÇT.JFOUSBT $SBDPWJBGVFMBDBQJUBMFMDBTUJMMPFSBMB TFEFEFMHPCJFSOPOBDJPOBM&O1P MPOJBQFSEJÍUFSSJUPSJPZFMQBÇTGVFEJ WJEJEPFOUSF"VTUSJB1SVTJBZ3VTJB %VSBOUFBËPT1PMPOJBEFTBQBSFDJÍ EFMNBQB4PMPSFDVQFSÍTVJOEFQFO EFODJBFO-BMJCFSUBEOPEVSÍNV DIPMBPDVQBSPOMPTOB[JTZEFTQVÃTMB EPNJOBSPOMPTSVTPT$VBOEPUFSNJOÍ MBHVFSSBFMDBTUJMMPGVFUSBOTGPSNBEP FONVTFP "GVFSBEFMBNVSBMMBFTU»FMSÇP7ÇTUVMB 8JTMBFOQPMBDP CVMFWBSFTBPSJMMBTEFM SÇPIPUFMFTEFDBEFOBJOUFSOBDJPOBMFM USBOWÇBQMB[BTVOTIPQQJOHMBFTUBDJÍO EFUSFOFTN»TJHMFTJBTNFOPTFTQMFOEP SPTBTMJCSFSÇBTEPOEFBNFOPTRVFTFQBT QPMBDPOPFOUFOEFS»TOBEBKVCJMBEPTRVF WFOEFOQSFU[FMTFOMBTFTRVJOBTSFTUBV SBOUFTDPONFOÔFTUVEJBOUJMZBMNBDFOFT EPOEFTFDPOTJHVF[VCSPXLBVOWPELB EFEFHSBEVBDJÍOBMDPIÍMJDBBSPNB UJ[BEPDPOVOBIJFSCBRVFDPNFOMPTCJ TPOUFTTPOMPRVFFODPOUSBS»BRVÇ ,B[JNJFS[FMCBSSJPKVEÇP YY&M$BTDP"OUJHVPEF7BSTPWJBQVFEFSFDPSSFSTFFODBSSVBKFTUJSBEPTQPSDBCBMMPT YY&O7BSTPWJBFMUBOHPFTUBOQPQVMBS DPNPMBNÔTJDBLMF[NFSKVEÇB &MCBSSJPKVEÇPMMFWBFMOPNCSFEFMSFZ $BTJNJSP&TU»BEJF[DVBESBTEFMDBTDP BOUJHVPZEFTEFIBDFBMHVOPTBËPTFTFM MVHBSEFNPEB%POEFFTU»OMPTNFKPSFT QVCTSFTUBVSBOUFTZNPWJEBOPDUVSOB &MDFOUSPEF,B[JNJFS[FTMB1MB[B/VF WBRVFFOPUSPTUJFNQPTGVFVONBUBEFSP EFDBSOFLPTIFS -BUBSEFFTU»OVCMBEBNFDSV[PDPO VOBTUVSJTUBTEF7BSTPWJBRVFWJFOFOQPS QSJNFSBWF[B$SBDPWJB&OVOBDBMMFFO DVFOUSPVODBGÃEPOEFCBJMBOUBOHPZNF FOUFSPEFMGBOBUJTNPEFNVDIPTQPMBDPT QPSMBEBO[BPSJHJOBEBFOFM3ÇPEFMB1MB UB)BZQPSMPNFOPTUSFTNJMPOHBTZVO GFTUJWBMBOVBMEFUBOHP 4JHPDBNJOBOEPQPSFTUBTDBMMFTNFEJF WBMFTRVFMFTJSWJFSPOB4QJFMCFSHEFFT DFOBSJPQBSB-BMJTUBEF4DIJOEMFS0TLB SB4DIJOEMFSBFMOPNCSFEFMFNQSFTBSJP FOQPMBDPUFOÇBTVG»CSJDBFOFMEJTUSJUP EF1PEHPS[FEFMPUSPMBEPEFMSÇP7ÇTUVMB )PZFTFMNVTFPN»TOVFWPEFMBDJVEBE &OVOBFTRVJOBWFPVOBQVCMJDJEBEEFM 'FTUJWBMEFMB$VMUVSB+VEÇBFO$SBDPWJB RVFTFDFMFCSBFODBEBKVOJP-BUBSEFTF BQBHB:BIBZNPWJNJFOUPFOMBDPDJOBEF MPTSFTUBVSBOUFT&OVOBWFOUBOBMFPVO BGJDIFFONJOVUPTDPNJFO[BVODPO DJFSUPEFNÔTJDBLMF[NFS7PZQBSBBMM»