5LR*UDQGHGR6XOGH6HWHPEURGH ? 'LiULR2ILFLDOGRV0XQLFtSLRVGR(VWDGRGR5LR*UDQGHGR6XO ? $12;,, _1? ZZZGLDULR PXQLFLSDOFRPEUIDPXUV  SURSRVWD GD HPSUHVD SRU QmR HODERUDU VXD SURSRVWD LJXDO DR DQH[R GR HGLWDO $OpP GLVVR R MXOJDPHQWR GR FHUWDPH p JOREDO H D HPS UHVD DSUHVHQWRX R YDORU JOREDO GH IRUPD FRUUHWD HP VXD SURSRVWD 3DUD ILQDOL]DU D &R PLVVmR GHYH EXVFDU VHPSUH D SURSRVWD PDLV YDQWDMRVD SRUWDQWR QmR WHP UD]mR SDUD GHVFODVVLILFDU D SURSRVWD VH FRQVHJXLPRV REWHU WRGRV RV GDGRV QHFHVViULRV SDUD GHFLVmR  DQDOLVDQGR D SURSRVWD H VHXV DQH[RV 1DGD PDLV KDYHQGR D FRQVWDU VHJXH D DWD DVVLQDGD SHORV PHPEURVGD&RPLVVmR -26e3('523,1(,52+2/'(5%$80 3 UHVLGHQWH &/(9(5721*$/$5=5$026 0HPEUR $1'5(66$6$/(77,'266$1726 0HPEUR 3XEOLFDGRSRU -RVp3 HGU R3LQHLUR+ROGHUEDXP &yGLJR,GHQWLILFDGRU & $(& ',9,6?2'($%$67(&,0 (172  &20 35$6( /,&,7$d?(6 ',63(16$1? 3URFHVVR Q?  ? 5DWLILFR D GLVSHQVD GH OLFLWDomR SDUD $TXLVLomR GH WHVWHV UiSLGRV GR WLSR ,J*  , J0 SDUD YHULIL FDomR  GH SDF LHQWHV VXVSHLWRV GHVSHVD VH UHIHUH j 3 RUWDULD *006  &,%  GR FRURQDYtUXV &29,'    FRP EDVH QR LQFLVR ,9 GR DUWGD/HL)HGHUDOFXPXODGDFRP D/HLQ?HQR SDUHFHUMXUtGLFRDQH[RDRSURFHVVR 7DTXDUDGH6HWHP EURGH 7,72/,9,2-$(*(5),/+2 3 UHIHLWR0XQLFLSDO 3XEOLFDGRSRU -RVp3 HGUR3LQHLUR+ROGHUEDXP &yGLJR,GHQWLILFDGRU ')% ',9,6?2'($%$67(&,0 (172  &20 35$6( /,&,7$d?(6 5(680 2'($',7,92 $',7,92 ?7(502 $',7,92 &2175$721?  352& (6621?  0 2'/,&,7$d?2 'LVSHQVDQ? &2175$7$17( 0 81,&?3,2'(7$48$5$56 &2175$7$'$ )$% 5,&,27$9$5(6 ? 0 ( 2% -(72 '2 &2175$72 $TXLVLomR GH OLFHQoDV GH $QWLYtUXV SDUDD$G PLQLVWUDomR0XQLFLSDO 2% -(72 '2 $',7,92 )LFD DOWHUDGD D &Oi XVXOD 7HU FHLUD ? 'RV 3 UD]RV9LJrQFLD ? SURUURJDQGR R SUD]R GD FRQWUDWDomR SRU  YLQWH H TXDWUR PHVHVDFRQWDUGHGH6HWHPEURGH $66,1$785$6 7, 72/,9,2-$( *(5),/+2 )$%5,&,2 7$9$5(6 '$7$'($66,1$785$'2 $',7,92  3XEOLFDGRSRU -RVp 3 HGUR3LQHLUR+ROGHUEDXP &yGLJR,GHQWLILFDGRU )$ (67$'2'25,2*5$1'( '268/ 35()(,785$0 81,&,3$/ '(7(55$'($5(,$ 6(&5(7$5,$0 81'($ '0 ,1,675$d?2( 3/$1(-$0 (172 35(*?235(6(1&,$/1?  ? 5(*,6752'( 35(d26 2 PXQLFtSLR GH 7HUUD GH $UHLD ? 56 WRUQD S~EOLFR TXH IDUi UHDOL]DU D VHJXLQWH OLFLWDomR QD PRGDOLGDGH 3 UHJmR 3UHVHQFLDO Q?  ? 5HJLVWUR GH 3 UHoRV 2EMHWR $TXLVLomR GH PHGLFDPHQWRV D ILP GH DWHQGHU D )DUPiFLD %iVLFD GR 0XQLFtSLR GH 7HUUD GH $UHLD56 'DWD DEHUWXUD  K RUiULR jV KPLQ 0DLRUHV LQIRUPDo}HV SRGHUmR VHU REWLGDV QR VHWRU GH /LFLWDo}HV GD 3 UHIHLWXUD QR KRUiULR GH H[SHGLHQWH SHOR WHOHIRQH      H  PDLO OLFLWDFRHV#WHUUDGHDUHLDUVJRYEU $/8?6,2&857,129(7(,;(,5$ 3 UHIHLWR0XQLFLSDO 3XEOLFDGRS RU 7KDtV0DFKDGR &yGLJR,GHQWLILFDGRU %$ 6(&5(7$5,$0 81'($ '0 ,1,675$d?2( 3/$1(-$0 (172 (;75$727(50 2$',7,9 21?5()(5(17($2 &2175$72'(35(67$d? 2'(6(59,d26  &RQW UDW DQW H 3 UHIHLWXUD 0XQLFLSDO GH 7HUUD GH $UHLD &RQWUDW DGD 'XPHU H /HDO /WGD 0( 2EM HWR &RQVWLWXL REMHWR GR SUHVHQWH WHUPR  DGLWLYR R DFUpVFLPR GH YDORU SRU DXPHQWR TXDQWLWDWLYR GR FRQWUDWR HP HStJUDIH )LFD DFUHVFLGR R YDORU GH 5  RLWR PLO GX]HQWRV H TXDUHQWD H QRYH UHDLV H RLWHQWD H VHWH FHQWDYRV  DR SUHVHQWH FRQWUDWR FRQIRUPH SODQLOKDV DQH[DGDV FRP UHVSHFWLYR DFUpVFL PR GH VHX YDORU FRP IXQGDPHQWR QR DUW LQFLVR , FF DUW  LQFLVR , DOtQHDE ?? H ?GD/HL)HGHUDOQ? 9LJrQFLD GHVHWHPEURGH $/8?6,2&857,129(7(,;(,5$ 3 UHIHLWR0X QLFLSDO 3XEOLFDGRSRU /XDQD3 DXOD0LTXHORWR &yGLJR,GHQWLILFDGRU ((( 6(&5(7$5,$0 81'($ '0 ,1,675$d?2( 3/$1(-$0 (172 (;75$727(50 2$',7,9 21?5()(5(17($2 &2175$72'(35(67$d? 2'(6(59,d26  &RQW UDW DQW H 3 UHIHLWXUD 0XQLFLSDO GH 7HUUD GH $UHLD &RQWUDWDGR  -HIHUVRQ /XL] 5RGULJXHV  0( 2EM HWR 2 SUD]R GH YLJrQFLD GR SUHVHQWH FRQWUDWR ILFD SURUURJDGR DWp  GH DJRVWR GH  9LJrQFLD   $/8?6,2&857,129(7(,;(,5$ 3 UHIHLWR0XQLFLSDO 3XEOLFDGRSRU /XDQD3 DXOD0LTXHORWR &yGLJR,GHQ WLILFDGRU ' 6(&5(7$5,$0 81'($ '0 ,1,675$d?2( 3/$1(-$0 (172 (;75$727(50 2$',7,9 21?5()(5(17($2 &2175$72'(35(67$d? 2'(6(59,d26  &RQW UDW DQW H 3 UHIHLWXUD 0XQLFLSDO GH 7HUUD GH $UHLD &RQWUDW DGR  3 URDWLYD 6D~GH ? &RRSHUDWLYD GH7UDED OKR GH3 URILVVLRQDLV GD ?UHD GD 6D~GH 2EMHWR 2 SUD]R GH YL JrQFLD GR FRQWUDWR VXSUDFLWDGR ILFD SURUURJDGR SRU PDLV  GR]H  PHVHV LQLFLDQGR HP  GH DJRVWR GH  HQFHUUDQGR  VH HP  GH DJRVWR GH  2 YDORU FRQWUDWDGRILFD DWXDOL]DGRFRQIRUPHWDEHO DDEDL[R ,WHP 4XDQWLGDGH 'HVF ULomR6H UYLoR 9DOR U8QLWiULR  KR UDV PrV 0pG LFR  & OtQ LFR  *HUD O DW HQG LPH QW R  SOD QW mR   KR UDV 5  KR UDV PrV 0pG LFR 3VLTX LDW UD 5  KR UDV PrV 0pG LFR *LQH FR OR JLVW D 5  KR UDV PrV 0pG L FR &DUGLR OR J LVW D 5  KR UDV PrV 0pG LFR 3HGLDW UD 5  KR UDV PrV 0pG LFR 7UDX PDW R OR JLVW D 5  KR UDV PrV 0pG LFR 8UR OR J LVW D 5  KR UDV PrV 3VLFR OR J LD 5  KR UDV PrV )LVLR W HUDS LD 5  KR UD V PrV $X [LOLDUGH+ LJ LH QL]Do mR 5  KR UDV PrV 0pG LFR (FR JUDILVW D 5