Documentos de Académico
Documentos de Profesional
Documentos de Cultura
Cabluri de Energie
Cabluri de Energie
$"#-63*%&&/&3(*&
8NN
8N6WoN 68NN
68N6WoN
8NN"; 8N6WoN"; 68NN"; 68N6WoN";
$BCMVSJEFFOFSHJFDVJ[PMBJFJNBOUBEF17$
QFOUSVUFOTJVOFBOPNJOBM66
L7
8NN
8NN";
*URVLPH
*URVLPH
'LDPHWUX
1XPUFRQGXFWRDUH[
QRPLQDO
QRPLQDO
H[WHULRU
VHFLXQHQRPLQDO
PDQWD
L]RODLH
LQI
H[W
PP
$
%
&
'
(
)
&RQVWUXFLH
&RQGXFWRUGHFXSUXVDXDOXPLQLXXQLODUFODVDVDXPXOWLODUFODVD
FRQIRUP65&(,
,]RODLHGH39&
QYHOLFRPXQ
0DQWDLQWHULRDU
$UPWXUGLQEDQGGHRHO
0DQWDH[WHULRDUGH39&
'RPHQLXGHXWLOL]DUH
&DEOXULOHVXQWGHVWLQDWHXWLOL]DUHDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH[H
*
+
,
.
/
0
'DWHWHKQLFH
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
NJNP
NJNP
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
[
UP
[
UP
[
UP
[
UP
[
UP
[
UP
[
UP
[
UP
[
UP
[
UP
[
UP
[
UP
[
UX
[
UP
[
UX
[
UX
[
UX
[
UX
[
UX
6WDQGDUGGHSURGXV
6),352(%
6WDQGDUGGHUHIHULQ
65&(,
7HQVLXQHDQRPLQDO
88 N9
[
UP
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
ODPRQWDM &
[
UX
[
UP
[
UX
[
UX
[
UX
[
UP
[GLDPHWUXOFDEOXOXLFXXQ
FRQGXFWRU
[
UX
UP
[GLDPHWUXOFDEOXOXLFXPDLPXOWH
FRQGXFWRDUH
[
[
UX
[
UP
[
UP
[
UPUP
[
UP
[
UPUP
[
UPUP
[
VP
[
VPUP
[
VPUP
[
VP
[
VPUP
[
VPVP
[
VP
vQH[SORDWDUH&
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
vQFRQGLLLQRUPDOHGHH[SORDWDUH
&
7HQVLXQHDGHvQFHUFDUH
N9+]WLPSGHPLQXWH
5D]DPLQLPGHFXUEXUODSR]DUH
&DEOXULOHFDUHDX)ODVIkULWXOVLPEROXOXLVXQWFXvQWkU]LHUHPULWODSURSDJDUHD
FULLFRQIRUP65(1FDWHJRULD&
UXFRQGXFWRUURWXQGXQLODU
UPFRQGXFWRUURWXQGPXOWLODU
VXFRQGXFWRUVHFWRUXQLODU
VPFRQGXFWRUVHFWRUPXOWLODU
T D * 1 30 & # T B
# JT US JB
T US % S V N V M $F U J J O S
$BCMVSJEFFOFSHJFDVJ[PMBJFJNBOUBEF17$QFOUSVUFOTJVOFB
OPNJOBM66
L7
8NN
8NN";
*URVLPH
*URVLPH
'LDPHWUX
1XPUFRQGXFWRDUH[
QRPLQDO
QRPLQDO
H[WHULRU
VHFLXQHQRPLQDO
PDQWD
L]RODLH
LQI
H[W
PP
8N6WoN
DPOUJOVBSF
PP
PP
PP
0DV
FXSUX
LQI
0DV
FDEOX
LQI
NJNP
NJNP
8N6WoN";
*URVLPH
*URVLPH
'LDPHWUX
1XPUFRQGXFWRDUH[
QRPLQDO
QRPLQDO
H[WHULRU
VHFLXQHQRPLQDO
PDQWD
L]RODLH
LQI
H[W
PP
PP
PP
PP
0DV
FXSUX
LQI
0DV
FDEOX
LQI
NJNP
NJNP
[
VPVP
[
UP
[
VPVP
[
UP
[
VP
[
UP
[
UP
[
UP
VP
[
UP
[
UP
[
UP
[
UP
[
UP
[
UP
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
[
UP
[
UX
[
UX
[
UX
[
UX
[
UP
[
UX
[
UP
[
UX
[
UP
[
UP
[
UPUP
[
UP
[
UPUP
[
VP
[
[
VP
[
VPUP
[
VP
[
VPVP
[
VP
[
UP
[
UX
[
UP
[
UX
[
UP
[
UX
[
UP
[
UX
[
UP
[
UX
[
UP
[
UP
[
UP
[
VP
[
VP
[
VP
[
VP
[
VP
[
VP
[
VP
[
UX
[
UX
[
UX
[
UX
[
UP
[
UX
[
UP
[
UX
[
UP
[
UP
[
UP
VPUP
[
UX
[
UX
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
$
%
&
'
(
)
*
+
,
.
/
0
$BCMVSJEFFOFSHJFDVJ[PMBJFJNBOUBEF17$QFOUSVUFOTJVOFB
OPNJOBM66
L7
8N6WoN
8N6WoN";
*URVLPH
*URVLPH
'LDPHWUX
1XPUFRQGXFWRDUH[
QRPLQDO
QRPLQDO
H[WHULRU
VHFLXQHQRPLQDO
PDQWD
L]RODLH
LQI
H[W
PP
$
%
&
'
(
)
*
+
PP
PP
PP
NJNP
NJNP
*URVLPH
*URVLPH
'LDPHWUX
1XPUFRQGXFWRDUH[
QRPLQDO
QRPLQDO
H[WHULRU
VHFLXQHQRPLQDO
PDQWD
L]RODLH
LQI
H[W
PP
PP
PP
PP
0DV
DOXPLQLX
LQI
0DV
FDEOX
LQI
NJNP
NJNP
UX
[
UX
UP
[
UX
[
UX
[
UX
[
UP
[
UX
[
UX
[
UX
[
UP
[
UX
[
UP
[
UX
[
UP
[
UX
[
VP
[
UXUX
[
VP
[
UX
[
VP
[
UXUX
[
VP
[
VX
[
VP
[
VP
[
VP
[
VXUX
[
VP
[
VPUP
[
UX
[
VX
[
UX
[
VP
[
UX
[
VPUP
[
UX
[
VXUX
[
UP
[
VX
[
UX
[
VP
[
UP
[
VPVP
[
UX
[
VXVX
[
UP
[
VP
[
UP
[
UP
*URVLPH
*URVLPH
'LDPHWUX
1XPUFRQGXFWRDUH[
QRPLQDO
QRPLQDO
H[WHULRU
VHFLXQHQRPLQDO
PDQWD
L]RODLH
LQI
H[W
0DV
FDEOX
LQI
DPOUJOVBSF
[
68NN
0DV
FXSUX
LQI
68NN";
[
68NN
DPOUJOVBSF
68NN";
PP
PP
PP
PP
0DV
DOXPLQLX
LQI
0DV
FDEOX
LQI
NJNP
NJNP
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
[
VP
[
UX
[
VP
[
UP
[
VP
[
UP
[
VP
[
UP
[
VP
[
UP
[
VP
[
UP
[
VP
[
UP
[
UX
[
UP
[
UX
[
UP
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
T D * 1 30 & # T B
# J T US JB
T US % S V N V M $F U J J O S
$BCMVSJEFFOFSHJFDVJ[PMBJFJNBOUBEF17$QFOUSVUFOTJVOFB
OPNJOBM66
L7
68N6WoN
68N6WoN";
68N6WoN
*URVLPH
*URVLPH
'LDPHWUX
1XPUFRQGXFWRDUH[
QRPLQDO
QRPLQDO
H[WHULRU
VHFLXQHQRPLQDO
PDQWD
L]RODLH
LQI
H[W
PP
PP
0DV
DOXPLQLX
LQI
0DV
FDEOX
LQI
PP
PP
NJNP
NJNP
68N6WoN";
DPOUJOVBSF
*URVLPH
*URVLPH
'LDPHWUX
1XPUFRQGXFWRDUH[
QRPLQDO
QRPLQDO
H[WHULRU
VHFLXQHQRPLQDO
PDQWD
L]RODLH
LQI
H[W
PP
PP
PP
PP
0DV
DOXPLQLX
LQI
0DV
FDEOX
LQI
NJNP
NJNP
[
UP
[
VP
[
UP
[
VP
[
UP
[
VP
[
UP
[
VP
[
UP
[
VP
[
UP
[
VP
[
UP
[
UX
[
UP
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
[
UX
[
UXUX
[
UX
[
UXUX
[
VX
[
VP
[
VX
[
VP
[
VX
[
VP
[
VPVP
[
VXVX
[
VP
[
UX
[
UX
[
UX
[
UX
[
UX
[
VP
$
%
&
'
(
)
*
+
,
.
/
0
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
8N6gN
8N6gN";
$BCMVSJEFFOFSHJFDVJ[PMBJFJNBOUBEF
17$BSNBUFDVTSNFEFPFM[JODBU
8N6gN
8N6gN";
$
%
&
'
(
)
*
+
,
.
/
0
&RQVWUXFLH
&RQGXFWRUGHFXSUXFODVDVDXFRQIRUP65&(,
,]RODLHGH39&
QYHOLFRPXQ
$UPWXUGLQVkUPHGHRHO]LQFDWVWDQDW
0DQWDH[WHULRDUGH39&
'RPHQLXGHXWLOL]DUH
&DEOXULOHVXQWGHVWLQDWHSHQWUXXWLOL]DUHDHQHUJLHLHOHFWULFHvQLQVWDODLLOHHOHFWULFH
[HvQORFXULFXSHULFROGHGHWHULRUULPHFDQLFH
'DWHWHKQLFH
6WDQGDUGGHSURGXV
6),352(%
6WDQGDUGGHUHIHULQ
65&(,
7HQVLXQHDQRPLQDO
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
ODPRQWDMR&
vQH[SORDWDUH&
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
vQFRQGLLLQRUPDOHGHH[SORDWDUH
&
7HQVLXQHDGHvQFHUFDUH
N9+]WLPSGHPLQXWH
5D]DPLQLPGHFXUEXUODSR]DUH
[GLDPHWUXOFDEOXOXLFXXQ
FRQGXFWRU
[GLDPHWUXOFDEOXOXLFXPDLPXOWH
FRQGXFWRDUH
&DEOXULOHFDUHDX)ODVIkULWXOVLPEROXOXLVXQWFXvQWkU]LHUHPULWODSURSDJDUHD
FULLFRQIRUP65(1FDWHJRULD&
UXFRQGXFWRUXQLODUFODVD
UPFRQGXFWRUPXOWLODUFODVD
VPFRQGXFWRUVHFWRUPXOWLODU
T D * 1 30 & # T B
# JT US JB
T US % S V N V M $F U J J O S
0DV
FDEOX
LQI
PP
PP
PP
PP
PP
NJNP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UP
[VP
[VP
[VP
[VP
[UPUX
[UPUX
[UPUP
[VPUP
[VPUP
[VPVP
[VPVP
[VPVP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UP
[VP
[VP
[VP
[VP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UX
[UX
8N:N";
8N:6WoN";
$BCMVSJEFFOFSHJFDVJ[PMBJFJNBOUBEF17$
FDSBOBUFDVCBOEEFDVQSV
QFOUSVUFOTJVOFB
OPNJOBM66
L7
8N6gN
8N6gN";
DPOUJOVBSF
0DV
FDEOX
LQI
PP
PP
PP
PP
PP
NJNP
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
$
%
&
&RQVWUXFLH
&RQGXFWRUGHFXSUXFODVDVDXFODVDFRQIRUP65&(,
,]RODLHGH39&
QYHOLFRPXQ
(FUDQGLQEDQGGHFXSUX
6WUDWVHSDUDWRU
0DQWDLQWHULRDUGH39&
$UPWXUGLQEDQGGHRHO
0DQWDH[WHULRDUGH39&
'RPHQLXGHXWLOL]DUH
'HVWLQDWHSHQWUXXWLOL]DUHDHQHUJLHLHOHFWULFHvQVWDLLGHvQDOWWHQVLXQH
'DWHWHKQLFH
6WDQGDUGGHUHIHULQ
65&(,
6WDQGDUGGHSURGXV
6),352(%
7HQVLXQHDQRPLQDO
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
ODPRQWDMR&
vQH[SORDWDUH&
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
vQFRQGLLLQRUPDOHGHH[SORDWDUH
&
7HQVLXQHDGHvQFHUFDUH
N9+]WLPSGHPLQXWH
5D]DPLQLPGHFXUEXUODSR]DUH
[GLDPHWUXOFDEOXOXLFXXQ
FRQGXFWRU
[GLDPHWUXOFDEOXOXLFXPDLPXOWH
FRQGXFWRDUH
&DEOXULOHFDUHDX)ODVIkULWXOVLPEROXOXLVXQWFXvQWkU]LHUHPULWODSURSDJDUHD
FULLFRQIRUP65(1FDWHJRULD&
UXFRQGXFWRUURWXQGXQLODU
UPFRQGXFWRUURWXQGPXOWLODU
VPFRQGXFWRUVHFWRUPXOWLODU
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
'
(
)
*
+
,
.
/
0
$BCMVSJEFFOFSHJFDVJ[PMBJFJNBOUBEF17$
FDSBOBUFDVCBOE
EFDVQSV
QFOUSVUFOTJVOFBOPNJOBM66
L7
8N:N
8N:N";
8N:N
*URVLPH
*URVLPH
'LDPHWUX
1XPUFRQGXFWRDUH[
QRPLQDO
QRPLQDO
H[WHULRU
VHFLXQHQRPLQDO
PDQWD
L]RODLH
LQI
H[W
PP
$
%
&
'
(
)
*
+
,
.
/
0
0DV
FXSUX
LQI
0DV
FDEOX
LQI
NJNP
NJNP
PP
PP
PP
[UX
[UX
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
8N:N";
DPOUJOVBSF
*URVLPH
*URVLPH
'LDPHWUX
1XPUFRQGXFWRDUH[
QRPLQDO
QRPLQDO
H[WHULRU
VHFLXQHQRPLQDO
PDQWD
L]RODLH
LQI
H[W
0DV
FDEOX
LQI
PP
PP
PP
NJNP
NJNP
[UX
[UX
[UX
[UX
[UP
[UP
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UX
[UP
[UX
[UX
8N:6WoN
8N:6WoN";
[UX
[UX
[UP
0DV
FXSUX
LQI
0DV
FDEOX
LQI
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UP
[UP
[UP
[VP
[VPUP
[VP
[VPUP
[VP
[VPVP
[VP
[VPVP
[VP
PP
PP
PP
PP
NJNP
NJNP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UX
[UX
*URVLPH
*URVLPH
'LDPHWUX
1XPUFRQGXFWRDUH[
QRPLQDO
QRPLQDO
H[WHULRU
VHFLXQHQRPLQDO
PDQWD
L]RODLH
LQI
H[W
PP
0DV
FXSUX
LQI
[UX
[UX
[UX
[UX
[UP
[UX
[UX
[UX
[UX
[VP
[UX
[VPVP
[UX
[VP
[UP
[UP
[UX
[UP
[UX
[UP
[VPVP
[VPVP
T D * 1 30 & # T B
# JT US JB
T US % S V N V M $F U J J O S
8N:N
68N:N 68N:6WN
$BCMVSJEFFOFSHJFNPOPGB[BUF
QFOUSVUFOTJVOFBEFL7
DVSFOUDPOUJOVV
8N:6WoN
8N:6WoN";
DPOUJOVBSF
*URVLPH
*URVLPH
'LDPHWUX
1XPUFRQGXFWRDUH[
QRPLQDO
QRPLQDO
H[WHULRU
VHFLXQHQRPLQDO
PDQWD
L]RODLH
LQI
H[W
PP
[VP
[VPUP
[VP
[VPUP
[VP
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
NJNP
NJNP
&RQVWUXFLH
&RQGXFWRUGHFXSUXVDXDOXPLQLXFODVDFRQIRUP65&(,
,]RODLHGH39&
(FUDQGLQEDQGGHFXSUX
QYHOLLQWHUQGH39&
$UPWXUGLQEHQ]LGHRHO
0DQWDH[WHULRDUGH39&
'RPHQLXGHXWLOL]DUH
'HVWLQDWHDOLPHQWULLvQFXUHQWFRQWLQXXDUHHOHLGHFRQWDFWSHQWUXWUDQVSRUWHOHFWULF
XUEDQWUROHLEX]HLWUDPYDLH
'DWHWHKQLFH
6WDQGDUGGHSURGXV
6)1U,352(%
[UX
7HQVLXQHDQRPLQDO
9
[UX
[UX
[UX
[UX
[UX
[UP
[UP
[VP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UP
[VPVP
[VP
[VPVP
[VP
[VPVP
[VP
[VPVP
[VP
[VPVP
7HPSHUDWXUDPLQLPDGPLVLELOSHPDQWD
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
7HQVLXQHDGHvQFHUFDUH
'
(
ODPRQWDMR&
vQH[SORDWDUH&
vQH[SORDWDUHQRUPDOR&
vQVFXUWFLUFXLWPD[VHFR&
N9+]WLPSGHVHFXQGH
[GLDPHWUXOH[WHULRUDOFDEOXOXL
QHDUPDW
5D]DPLQLPGHFXUEXUODSR]DUH
[GLDPHWUXOH[WHULRUDOFDEOXOXL
DUPDW
8N:N
1XPUGH
*URVLPH
FRQGXFWRDUH
QRP
[VHFLXQH
L]RODLH
QRPLQDO
[UP
*URVLPH 'LDPHWUXO
QRP
H[WHULRU
PDQWD
LQI
5H]LVWHQD
0DVD
HOHFWULF
0DV
FDEOXOXL
PD[LP FXSUXLQI
LQI
ODR&
PP
PP
PP
:NP
NJNP
NJNP
68N:N
1XPUGH
*URVLPH
FRQGXFWRDUH
QRP
[VHFLXQH
L]RODLH
QRPLQDO
*URVLPH 'LDPHWUXO
QRP
H[WHULRU
PDQWD
LQI
5H]LVWHQD
0DV
HOHFWULF
DOXPLQLX
PD[LP
LQI
ODR&
0DVD
FDEOXOXL
LQI
PP
PP
PP
:NP
NJNP
NJNP
[UP
[UP
68N:6WN
1XPUGH
*URVLPH
FRQGXFWRDUH
QRP
[VHFLXQH
L]RODLH
QRPLQDO
[UP
*URVLPH 'LDPHWUXO
QRP
H[WHULRU
PDQWD
LQI
&
5H]LVWHQD
0DV
HOHFWULF
DOXPLQLX
PD[LP
LQI
ODR&
0DVD
FDEOXOXL
LQI
PP
PP
PP
:NP
NJNP
NJNP
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
)
*
+
,
.
/
0
CNN"D
CNN"?
$BCMVSJEFFOFSHJFDVJ[PMBJFJNBOUBEF17$
CNN"D
CNN"?
*URVLPH *URVLPH
1XPUFRQGXFWRDUH[
QRPLQDO QRPLQDO
VHFLXQHQRPLQDO
L]RODLH
PDQWD
PP
$
%
&
'
(
)
&RQVWUXFLH
&RQGXFWRUGHFXSUXURWXQGXQLODUFODVDVDXPXOWLODUFODVDFRQIRUP9'(
,]RODLHGH39&WLS',9FRQIRUP9'(
QYHOLLQWHUQ
0DQWDH[WHULRDUGH39&WLS'09FRQIRUP9'(
'RPHQLXGHXWLOL]DUH
'HVWLQDWHSHQWUXXWLOL]DUHDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH[H
*
+
,
.
/
0
'DWHWHKQLFH
'LDPHWUX
H[WHULRU
LQI
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
NJNP
NJNP
[5(
[5(
[5(
[5(
[5(
[5(
[50
[50
[50
[50
[50
[50
[50
[50
[50
[50
[50
[50
[5(
[5(
[5(
[5(
[5(
[5(
6WDQGDUGGHSURGXV
9'(
7HQVLXQHDQRPLQDO
[50
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
ODPRQWDM &
[5(
[5(
[5(
[5(
[5(
[5(
[GLDPHWUXOFDEOXOXLFXXQ
FRQGXFWRU
[50
[GLDPHWUXOFDEOXOXLFXPDLPXOWH
FRQGXFWRDUH
[50
[60
[60
[60
[60
[505(
[505(
[6050
[6050
[6060
[6060
[6060
[6060
[5(
[5(
[5(
[5(
GXSSR]DUH&
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
vQFRQGLLLQRUPDOHGHH[SORDWDUH
&
7HQVLXQHDGHvQFHUFDUH
N9+]PLQXWH
5D]DPLQLPGHFXUEXUODSR]DUH
QVLPERO
2IUFRQGXFWRUYHUGHLJDOEHQ
-FXFRQGXFWRUYHUGHLJDOEHQ
5(FRQGXFWRUURWXQGXQLODU
50FRQGXFWRUURWXQGPXOWLODU
60FRQGXFWRUVHFWRUPXOWLODU
T D * 1 30 & # T B
# JT US JB
T US % S V N V M $F U J J O S
CN8N
$BCMVSJEFFOFSHJFDVJ[PMBJFJNBOUBEF
17$
DVDPOEVDUPSDPODFOUSJD
CNN"D
CNN"?
DPOUJOVBSF
*URVLPH *URVLPH
1XPUFRQGXFWRDUH[
QRPLQDO QRPLQDO
VHFLXQHQRPLQDO
PDQWD
L]RODLH
PP
'LDPHWUX
H[WHULRU
LQI
0DV
FXSUX
LQI
0DV
FDEOX
LQI
NJNP
PP
PP
PP
NJNP
[5(
[5(
[50
[50
[60
[60
[60
[60
[60
[5(
[5(
[5(
[5(
[5(
[5(
[50
[50
[50
[50
[50
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
$
%
&
'
&RQVWUXFLH
&RQGXFWRUGHFXSUXFODVDVDXFODVDFRQIRUP9'(65&(,
,]RODLHGH39&WLS',9FRQIRUP9'(
QYHOLLQWHUQ
&RQGXFWRUFRQFHQWULFGLQVkUPHGHFXSUX
6WUDWVHSDUDWRU
0DQWDH[WHULRDUGH39&WLS'09FRQIRUP9'(
'RPHQLXGHXWLOL]DUH
6XQWGHVWLQDWHSHQWUXXWLOL]DUHDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH[H&RQGXFWRUXO
FRQFHQWULFVHSRDWHXWLOL]DFDLFRQGXFWRUGHQXO1FRQGXFWRUGHSURWHFLH3(
FRQGXFWRUQHXWUXOHJDWODSPkQW3(1VDXFDHFUDQ
'DWHWHKQLFH
6WDQGDUGGHSURGXV
9'(
7HQVLXQHDQRPLQDO
ODPRQWDMR&
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
vQH[SORDWDUH&
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
vQFRQGLLLQRUPDOHGHH[SORDWDUH
&
7HQVLXQHDGHvQFHUFDUH
N9+]PLQXWH
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
5D]DPLQLPGHFXUEXUODSR]DUH
[GLDPHWUXOFDEOXOXLFXXQ
FRQGXFWRU
[GLDPHWUXOFDEOXOXLFXPDLPXOWH
FRQGXFWRDUH
QVLPERO
5(FRQGXFWRUURWXQGXQLODUFODVD
50FRQGXFWRUURWXQGPXOWLODUFODVD
60FRQGXFWRUVHFWRUPXOWLODUFODVD
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
(
)
*
+
,
.
/
0
$BCMVSJEFFOFSHJFDVJ[PMBJFJNBOUBEF17$
DVDPOEVDUPSDPODFOUSJD
CN8N
CN8N
DPOUJOVBSF
*URVLPH
QRPLQDO
PDQWD
'LDPHWUX
H[WHULRU
LQI
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
NJNP
NJNP
[50
[50
[50
[60
[60
[60
[50
[60
[50
[60
[5(
[60
[5(
[60
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[50
[5(
[5(
[5(
[5(
[50
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[50
[5(
[50
[5(
[60
[5(
[60
[5(
[60
[5(
[60
[5(
[60
[5(
[50
[5(
[50
[5(
[60
[5(
[60
[5(
[60
[5(
[60
[5(
[60
[5(
[60
[5(
[60
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[50
[50
[60
[60
[60
[50
*URVLPH
1XPUFRQGXFWRDUH[
QRPLQDO
VHFLXQHQRPLQDO
L]RODLH
*URVLPH
QRPLQDO
PDQWD
'LDPHWUX
H[WHULRU
LQI
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
NJNP
NJNP
[5(
[5(
[50
[50
[50
[50
PP
$
%
&
'
(
)
,
.
/
0
T D * 1 30 & # T B
# J T US JB
T US % S V N V M $F U J J O S
*URVLPH
1XPUFRQGXFWRDUH
QRPLQDO
[VHFLXQHQRPLQDO
L]RODLH
PP
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
C6NN"D
C6NN"?
$BCMVSJEFFOFSHJFDVJ[PMBJFJNBOUBEF17$
C6NN"D
C6NN"?
*URVLPH *URVLPH
1XPUFRQGXFWRDUH[
QRPLQDO QRPLQDO
VHFLXQHQRPLQDO
PDQWD
L]RODLH
PP
&RQVWUXFLH
&RQGXFWRUGHDOXPLQLXFODVDVDXFODVDFRQIRUP9'(
,]RODLHGH39&WLS',9FRQIRUP9'(
QYHOLLQWHUQ
0DQWDH[WHULRDUGH39&WLS'09FRQIRUP9'(
'RPHQLXGHXWLOL]DUH
6XQWGHVWLQDWHSHQWUXXWLOL]DUHDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH[H
'DWHWHKQLFH
6WDQGDUGGHSURGXV
9'(
7HQVLXQHDQRPLQDO
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
ODPRQWDMR&
GXSSR]DUH&
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
vQFRQGLLLQRUPDOHGHH[SORDWDUH
&
7HQVLXQHDGHvQFHUFDUH
N9+]PLQXWH
5D]DPLQLPGHFXUEXUODSR]DUH
[GLDPHWUXOFDEOXOXLFXXQ
FRQGXFWRU
[GLDPHWUXOFDEOXOXLFXPDLPXOWH
FRQGXFWRDUH
QVLPERO
2FDEOXIUFRQGXFWRUPDUFDWYHUGHLJDOEHQ
-FDEOXFXFRQGXFWRUPDUFDWYHUGHLJDOEHQ
5(FRQGXFWRUURWXQGXQLODUFODVD
50FRQGXFWRUURWXQGPXOWLODUFODVD
6(FRQGXFWRUVHFWRUXQLODUFODVD
60FRQGXFWRUVHFWRUPXOWLODUFODVD
'LDPHWUX
H[WHULRU
LQI
0DV
DOXPLQLX
LQI
0DV
FDEOX
LQI
PP
NJNP
NJNP
PP
PP
[5(
[5(
[5(
[5(
[50
[50
[50
[50
[50
[50
[50
[50
[50
[50
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[5(
[6(
[60
[6(
[60
[60
[60
[60
[60
[60
[5(5(
[5(5(
[6(5(
[605(
[6(5(
[605(
[6060
[6060
[6060
[6060
[6060
[5(
[5(
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
$
%
&
'
(
)
*
+
,
.
/
0
C6N8N
$BCMVSJEFFOFSHJFDVJ[PMBJFJNBOUBEF17$
C6NN"D
C6NN"?
DPOUJOVBSF
$
%
&
'
(
$BCMVSJEFFOFSHJFDVJ[PMBJFJNBOUBEF
17$
DVDPOEVDUPSDPODFOUSJD
0DV
DOXPLQLX
LQI
0DV
FDEOX
LQI
NJNP
NJNP
PP
PP
PP
[5(
[5(
[5(
[5(
[6(
[60
[6(
[60
[60
[60
[60
[60
[60
[5(
[5(
[5(
[5(
[5(
&RQVWUXFLH
&RQGXFWRUGHDOXPLQLXFODVDVDXFODVDFRQIRUP9'(65&(,
,]RODLHGH39&WLS',9FRQIRUP9'(
QYHOLLQWHUQ
&RQGXFWRUFRQFHQWULFGLQVkUPHGHFXSUX
6WUDWVHSDUDWRU
0DQWDH[WHULRDUGH39&WLS'09FRQIRUP9'(
'RPHQLXGHXWLOL]DUH
6XQWGHVWLQDWHSHQWUXXWLOL]DUHDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH[H
&RQGXFWRUXOFRQFHQWULFVHSRDWHXWLOL]DFDLFRQGXFWRUGHQXO1FRQGXFWRUGH
SURWHFLH3(FRQGXFWRUQHXWUXOHJDWODSPkQW3(1VDXFDHFUDQ
'DWHWHKQLFH
+
,
-
6WDQGDUGGHSURGXV
9'(
7HQVLXQHDQRPLQDO
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
ODPRQWDMR&
GXSSR]DUH&
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
vQFRQGLLLQRUPDOHGHH[SORDWDUH
&
7HQVLXQHDGHvQFHUFDUH
N9+]PLQXWH
5D]DPLQLPGHFXUEXU
QVLPERO
5(FRQGXFWRUURWXQGXQLODUFODVD
50FRQGXFWRUURWXQGPXOWLODUFODVD
6(FRQGXFWRUVHFWRUXQLODUFODVD
60FRQGXFWRUVHFWRUPXOWLODUFODVD
T D * 1 30 & # T B
# J T US JB
T US % S V N V M $F U J J O S
[GLDPHWUXOFDEOXOXLFXXQ
FRQGXFWRU
[GLDPHWUXOFDEOXOXLFXPDLPXOWH
FRQGXFWRDUH
$BCMVSJEFFOFSHJFDVJ[PMBJFJNBOUBEF17$ DVDPOEVDUPSDPODFOUSJD
C6N8N
1XPUFRQGXFWRDUH[
VHFLXQHQRPLQDO
C6N8N
*URVLPH *URVLPH 'LDPHWUX
QRPLQDO QRPLQDO H[WHULRU
L]RODLH
PDQWD
LQI
DPOUJOVBSF
0DV
DOXPLQLX
LQI
0DV
FDEOX
LQI
1XPUFRQGXFWRDUH[
VHFLXQHQRPLQDO
PP
NJNP
NJNP
PP
PP
PP
0DV
DOXPLQLX
LQI
0DV
FDEOX
LQI
PP
NJNP
NJNP
PP
PP
PP
[5(
[6060
[5(
[5(
[5(
[50
[6060
[60
60
[5(
[50
[5(
[50
[5(
[50
[5(
[50
[5(
[5(
[5(
[5(
[6(
[5(
[60
[5(
[6(
[5(
[60
[5(
[60
[5(
[60
[5(
[60
[5(
[60
[5(
[60
[5(
[5(
[5(
[6(
[6(
[60
[60
[6(
[6(
[60
[60
[60
[60
[60
[60
[60
[60
[60
[60
[60
[60
[5(5(
[5(5(
[6(5(
[605(
[6(5(
[605(
[6060
[6060
$
%
&
'
(
)
*
+
,
.
/
0
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
8'MN
8'MN";
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFOSFUJDVMBUJ
NBOUBEF17$ TJNJMBSF/9:
DPOGPSN7%&
8'MN
8'MN";
*URVLPH *URVLPH
1XPUFRQGXFWRDUH[
QRPLQDO QRPLQDO
VHFLXQHQRPLQDO
L]RODLH
PDQWD
PP
$
%
&
'
(
)
*
+
,
.
/
0
&RQVWUXFLH
&RQGXFWRUGHFXSUXFODVDVDXFODVDFRQIRUP65&(,
,]RODLHGHSROLHWLOHQUHWLFXODW;/3(
QYHOLLQWHUQ
0DQWDH[WHULRDUGH39&WLS67FRQIRUP65&(,
'RPHQLXGHXWLOL]DUH
&DEOXULOHVXQWGHVWLQDWHSHQWUXXWLOL]DUHDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH[H
'DWHWHKQLFH
'LDPHWUX
H[WHULRU
QRPLQDO
LQI
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
NJNP
NJNP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UX
[UX
[UX
6WDQGDUGGHUHIHULQ
65&(,
6WDQGDUGGHSURGXV
6),352(%
7HQVLXQHDQRPLQDO
[UX
ODPRQWDMR&
[UX
[UX
[UP
[UX
[UX
[UX
N9+]WLPSGHPLQXWH
[UX
[GLDPHWUXOFDEOXOXLFXXQ
FRQGXFWRU
[UX
[UX
[UP
[UP
[VP
[VP
[VP
[VP
[VP
[VP
[UPUX
[UPUX
[UPUP
[VPUP
[VPUP
[VPVP
[VPVP
[VPVP
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
7HQVLXQHDGHvQFHUFDUH
5D]DPLQLPGHFXUEXU
vQH[SORDWDUH&
vQFRQGLLLQRUPDOH
GHH[SORDWDUHR&
ODVFXUWFLUFXLWPD[VR&
[GLDPHWUXOFDEOXOXLFXPDLPXOWH
FRQGXFWRDUH
&;<)FDEOXFXvQWkU]LHUHPULWODSURSDJDUHDFULLFRUHVSXQGHOD
vQFHUFDUHDODIRFFRQIRUP65(1FDWHJRULD&
6HPQLFDLHVLPEROXULFRQGXFWRU
UXFRQGXFWRUURWXQGXQLODUFODVD
UPFRQGXFWRUURWXQGPXOWLODUFODVD
VPFRQGXFWRUVHFWRUPXOWLODUFODVD
T D * 1 30 & # T B
# JT US JB
T US % S V N V M $F U J J O S
8'MN 8'MN";
$BCMVSJEFFOFSHJFDVJ[PMBJFEF
QPMJFUJMFOSFUJDVMBUJNBOUBEF17$
DV
DPOEVDUPBSFGMFYJCJMF
8'MN
8'MN";
DPOUJOVBSF
*URVLPH *URVLPH
1XPUFRQGXFWRDUH[
QRPLQDO QRPLQDO
VHFLXQHQRPLQDO
L]RODLH
PDQWD
'LDPHWUX
H[WHULRU
QRPLQDO
LQI
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
PP
NJNP
NJNP
[VPVP
[VPVP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UP
[VP
[VP
[VP
[VP
[VP
[VP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
'DWHWHKQLFH
[UP
6WDQGDUGGHUHIHULQ
65&(,
[UX
[UX
6WDQGDUGGHSURGXV
6),352(%
[UX
7HQVLXQHDQRPLQDO
[UX
ODPRQWDMR&
[UX
[UX
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
$
%
&
&RQVWUXFLH
&RQGXFWRUGHFXSUXFODVDFRQIRUP65&(,
,]RODLHGHSROLHWLOHQUHWLFXODW;/3(
QYHOLLQWHUQ
0DQWDH[WHULRDUGH39&WLS67FRQIRUP65&(,
&DEOXULOHVXQWGHVWLQDWHSHQWUXXWLOL]DUHDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH[H
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
5D]DPLQLPGHFXUEXU
vQH[SORDWDUH&
vQFRQGLLLQRUPDOH
GHH[SORDWDUHR&
ODVFXUWFLUFXLWPD[VR&
*
+
,
.
N9+]WLPSGHPLQXWH
[GLDPHWUXOFDEOXOXLFXXQ
FRQGXFWRU
[GLDPHWUXOFDEOXOXLFXPDLPXOWH
FRQGXFWRDUH
&;<)FDEOXFXvQWkU]LHUHPULWODSURSDJDUHDFULLFRUHVSXQGHOD
vQFHUFDUHDODIRFFRQIRUP65(1FDWHJRULD&
6HPQLFDLHVLPEROFRQGXFWRU
UPIFRQGXFWRUURWXQGPXOWLODUH[LELOFODVD
(
)
'RPHQLXGHXWLOL]DUH
7HQVLXQHDGHvQFHUFDUH
'
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
/
0
8'M8N 8'M8N";
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFOSFUJDVMBU
JNBOUBEF17$ DVDPOEVDUPBSFGMFYJCJMF
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFO
SFUJDVMBUJNBOUBEF17$
DVDPOEVDUPSDPODFOUSJD
TJNJMBSF/9$:
DPOGPSN7%&
8'MN
8'MN";
*URVLPH
1XPUFRQGXFWRDUH
QRPLQDO
[VHFLXQHQRPLQDO
L]RODLH
$
%
&
'
(
)
*
+
,
.
/
0
*URVLPH
QRPLQDO
PDQWD
'LDPHWUX
H[WHULRU
QRPLQDO
LQI
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
PP
NJNP
NJNP
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
&DEOXULOHVXQWGHVWLQDWHSHQWUXXWLOL]DUHDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH[H
&RQGXFWRUXOFRQFHQWULFSRDWHXWLOL]DWFDLFRQGXFWRUQHXWUX1FRQGXFWRUGH
SURWHFLH3(FDLFRQGXFWRUQHXWUXSXVODSPkQW3(1VDXFDHFUDQ
[UPI
'DWHWHKQLFH
[UPI
6WDQGDUGGHUHIHULQ
65&(,
[UPI
[UPI
6WDQGDUGGHSURGXV
6),352(%
[UPI
7HQVLXQHDQRPLQDO
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
[UPI
T D * 1 30 & # T B
# J T US JB
T US % S V N V M $F U J J O S
&RQVWUXFLH
&RQGXFWRUGHFXSUXFODVDVDXFODVDFRQIRUP65&(,
,]RODLHGHSROLHWLOHQUHWLFXODW;/3(
QYHOLLQWHUQ
&RQGXFWRUFRQFHQWULFGLQVkUPHGHFXSUX
6WUDWVHSDUDWRU
0DQWDH[WHULRDUGH39&WLS67FRQIRUP65&(,
'RPHQLXGHXWLOL]DUH
7HPSHUDWXUDPLQLPPVXUDWSHPDQWD
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
7HQVLXQHDGHvQFHUFDUH
5D]DPLQLPGHFXUEXUODSR]DUH
ODPRQWDMR&
vQH[SORDWDUH&
vQH[SORDWDUHQRUPDOR&
ODVFXUWFLUFXLWPD[VHFR&
N9+]WLPSGHPLQXWH
[GLDPHWUXOH[WHULRUSHQWUXFDEOXUL
FXXQFRQGXFWRU
[GLDPHWUXOH[WHULRUSHQWUXFDEOXUL
FXPDLPXOWHFRQGXFWRDUH
&;&<FDEOXFXvQWkU]LHUHODSURSDJDUHDFULLFRUHVSXQGHODvQFHUFDUHDODIRF
FRQIRUP65(1
&;&<)FDEOXFXvQWkU]LHUHPULWODSURSDJDUHDFULLFRUHVSXQGHOD
vQFHUFDUHDODIRFFRQIRUP65(1FDWHJRULD&
6HPQLFDLHVLPEROXULFRQGXFWRU
UXFRQGXFWRUURWXQGXQLODUFODVD
UPFRQGXFWRUURWXQGPXOWLODUFODVD
VPFRQGXFWRUVHFWRUPXOWLODUFODVD
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFOSFUJDVMBU
JNBOUBEF17$
DVDPOEVDUPSDPODFOUSJD
8'M8N
8'M8N";
1XPUFRQGXFWRDUH[
VHFLXQHQRPLQDO
PP
8'M8N
8'M8N";
0DV
FXSUX
LQI
0DV
FDEOX
LQI
1XPUFRQGXFWRDUH[
VHFLXQHQRPLQDO
NJNP
NJNP
PP
PP
PP
PP
[UX
[UX
[UP
[UP
[UP
[UP
[UP
[UP
DPOUJOVBSF
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
NJNP
NJNP
[VPVP
[VPVP
[VPVP
[VPVP
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UX
[UP
[UX
[VP
[UX
[VP
[UP
[VP
[UX
[VP
[UX
[VP
[UX
[VP
[UX
[VP
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UX
[UP
[UX
[UP
[UP
[UP
[UP
[VP
[UX
[VP
[UX
[VP
[UX
[VP
[UX
[VP
[UX
[VP
[UX
[VP
[UX
[VP
[UX
[VP
[UX
[VP
[UX
[VP
[UX
[VP
[UX
[VP
[UX
[UPUX
[UX
[UPUX
[UX
[UPUP
[UX
[VPUP
[UX
[VPUP
[UX
[VPVP
[UX
[VPVP
[UX
[VPVP
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
$
%
&
'
(
)
*
+
,
.
/
0
8'M:N
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFOSFUJDVMBU
JNBOUBEF17$
DVDPOEVDUPSDPODFOUSJD
8'M8N
8'M8N";
1XPUFRQGXFWRDUH[
VHFLXQHQRPLQDO
$
%
&
'
(
8'M:N";
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFO
SFUJDVMBUJNBOUBEF17$
DVFDSBOEJO
CBOEEFDVQSV
DPOUJOVBSF
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
PP
NJNP
NJNP
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
&RQVWUXFLH
&RQGXFWRUGHFXSUXFODVDVDXFODVDFRQIRUP65&(,
,]RODLHGHSROLHWLOHQUHWLFXODW;/3(
QYHOLLQWHUQ
(FUDQGHEDQGGHFXSUX
0DQWDH[WHULRDUGH39&WLS67FRQIRUP65&(,
'RPHQLXGHXWLOL]DUH
&DEOXULOHVXQWGHVWLQDWHSHQWUXXWLOL]DUHDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH
[H
'DWHWHKQLFH
+
,
6WDQGDUGGHSURGXV
6),352(%
6WDQGDUGGHUHIHULQ
65&(,
7HQVLXQHDQRPLQDO
7HPSHUDWXUDPLQLPPVXUDWSHPDQWD
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
7HQVLXQHDGHvQFHUFDUH
5D]DPLQLPGHFXUEXU
ODPRQWDMR&
vQH[SORDWDUH&
vQH[SORDWDUHQRUPDOR&
ODVFXUWFLUFXLWPD[VHFR&
N9+]WLPSGHPLQXWH
[GLDPHWUXOH[WHULRUSHQWUX
FDEOXULFXXQFRQGXFWRU
[GLDPHWUXOH[WHULRUSHQWUX
FDEOXULFXPDLPXOWHFRQGXFWRDUH
&;(<)FDEOXFXvQWkU]LHUHPULWODSURSDJDUHDFULLFRUHVSXQGHOD
vQFHUFDUHDODIRFFRQIRUP65(1FDWHJRULD&
6HPQLFDLHVLPEROXULFRQGXFWRU
UXFRQGXFWRUURWXQGXQLODUFODVD
UPFRQGXFWRUURWXQGPXOWLODUFODVD
VPFRQGXFWRUVHFWRUPXOWLODUFODVD
T D * 1 30 & # T B
# J T US JB
T US % S V N V M $F U J J O S
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFOSFUJDVMBU
JNBOUBEF17$
DVFDSBOEJOCBOEEFDVQSV
8'M:N
8'M:N
8'M:N";
*URVLPH *URVLPH
1XPUFRQGXFWRDUH[
QRPLQDO QRPLQDO
VHFLXQHQRPLQDO
L]RODLH
PDQWD
PP
'LDPHWUX
H[WHULRU
QRPPD[
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
NJNP
NJNP
PP
PP
[UX
[UX
[UP
[UP
[UP
[UP
[UP
[UP
8'M:N";
DPOUJOVBSF
*URVLPH *URVLPH
1XPUFRQGXFWRDUH[
QRPLQDO QRPLQDO
VHFLXQHQRPLQDO
L]RODLH
PDQWD
0DV
FXSUX
LQI
0DV
FDEOX
LQI
NJNP
NJNP
PP
PP
PP
[UX
[UX
[UX
[UP
[UP
[VP
[VP
[VP
[UP
[VP
[UP
[VP
[UP
[UX
[UP
[UX
[UP
[UX
[UP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UX
[UX
[UX
[UX
[UX
[UX
[P
[UX
[UP
[UX
[UP
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UX
[UP
[UX
[VP
[UX
[VP
[VP
[VP
[UPUX
[UPUX
[UPUP
[VPUP
[VPUP
[VPVP
[VPVP
[VPVP
[VPVP
[VPVP
[UX
[UX
[UX
PP
'LDPHWUX
H[WHULRU
QRPPD[
$
%
&
'
(
)
*
+
,
.
/
0
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
8'M6WoN 8'M6WoN";
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFOSFUJDVMBU
JNBOUBEF17$
DVBSNUVSEFCFO[JEFPFM
TJNJMBSF/9#:DPOGPSN7%&
8'M6WoN
8'M6WoN";
$
%
&
'
(
)
*
+
,
.
/
0
&RQVWUXFLH
&RQGXFWRUGHFXSUXFODVDVDXFODVDFRQIRUP65&(,
,]RODLHGHSROLHWLOHQUHWLFXODW;/3(
QYHOLLQWHUQ
0DQWDLQWHULRDUGH39&
$UPWXUPHWDOLFGHEHQ]LGHRHO]LQFDWH$E]VDXQH]LQFDWH$E
0DQWDH[WHULRDUGH39&
'RPHQLXGHXWLOL]DUH
&DEOXULOHVXQWGHVWLQDWHSHQWUXXWLOL]DUHDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH
[H
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
NJNP
NJNP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UP
[VP
[VP
[VP
[VP
[VP
'DWHWHKQLFH
[UPUX
6WDQGDUGGHSURGXV
6),352(%
[UPUX
6WDQGDUGGHUHIHULQ
65&(,
[UPUP
[VPUP
[VPUP
[VPVP
[VPVP
[VPVP
[VPVP
[VPVP
7HQVLXQHDQRPLQDO
[VP
7HPSHUDWXUDPLQLPDGPLVLELOSHPDQWD
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
7HQVLXQHDGHvQFHUFDUH
5D]DPLQLPGHFXUEXU
vQH[SORDWDUH&
vQH[SORDWDUHQRUPDOR&
[UX
[UX
[GLDPHWUXOH[WHULRUSHQWUX
FDEOXULFXXQFRQGXFWRU
[UX
[GLDPHWUXOH[WHULRUSHQWUX
FDEOXULPXOWLFRQGXFWRDUH
[UX
[UX
[UX
[UP
[UP
[VP
[VP
[VP
[VP
[VP
[VP
[UX
[UX
[UX
T D * 1 30 & # T B
# JT US JB
T US % S V N V M $F U J J O S
8'M:6WoN
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFOSFUJDVMBU
JNBOUBEF17$
DVBSNUVSEFCFO[JEFPFM
8'M6WoN
8'M6WoN";
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFOSFUJDVMBU
JNBOUBEF17$
DVFDSBOEFCBOEEFDVQSV
JBSNUVSEFCFO[JEFPFM
DPOUJOVBSF
8'M:6WoN";
0DV
FXSUX
LQI
0DV
FDEOX
LQI
NJNP
PP
PP
PP
NJNP
[UX
[UX
[UX
[UP
[UP
[UP
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
$
%
&
&RQVWUXFLH
&RQGXFWRUGHFXSUXFODVDVDXFODVDFRQIRUP65&(,
,]RODLHGHSROLHWLOHQUHWLFXODW;/3(
QYHOLLQWHUQ
(FUDQGLQEDQGGHFXSUX
0DQWDLQWHULRDUGH39&
$UPWXUPHWDOLFGHEHQ]LGHRHO]LQFDWH$E]VDXQH]LQFDWH$E
0DQWDH[WHULRDUGH39&WLS67FRQIRUP65&(,
'RPHQLXGHXWLOL]DUH
&DEOXULOHVXQWGHVWLQDWHSHQWUXXWLOL]DUHDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH[H
&DEOXULOHFXXQFRQGXFWRUQXVXQWGHVWLQDWHSHQWUXXWLOL]DUHvQFXUHQWDOWHUQDWLY
'DWHWHKQLFH
6WDQGDUGGHUHIHULQ
65&(,
6WDQGDUGGHSURGXV
6),352(%
7HQVLXQHDQRPLQDO
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
ODPRQWDMR&
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
7HQVLXQHDGHvQFHUFDUH
5D]DPLQLPGHFXUEXU
vQH[SORDWDUH&
vQH[SORDWDUHQRUPDOR&
ODVFXUWFLUFXLWPD[VHFR&
N9+]WLPSGHPLQXWH
[GLDPHWUXOH[WHULRUSHQWUX
FDEOXULFXXQFRQGXFWRU
[GLDPHWUXOH[WHULRUSHQWUX
FDEOXULPXOWLFRQGXFWRDUH
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
'
(
)
*
+
,
.
/
0
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFOSFUJDVMBU
JNBOUBEF17$
DVFDSBOEJOCBOEEFDVQSV
JBSNUVSEFCFO[JEFPFM
8'M:6WoN
8'M:6WoN";
8'M:6WoN
$
%
&
'
(
)
*
+
,
.
/
0
0DV
FXSUX
LQI
0DV
FDEOX
LQI
NJNP
NJNP
PP
PP
PP
[UX
[UX
[UP
[UP
[UP
[UP
[UP
[UP
8'M:6WoN";
DPOUJOVBSF
0DV
FDEOX
LQI
NJNP
NJNP
PP
PP
PP
[UX
[UX
[UX
[UX
[UP
[UP
[VP
[VP
[UP
[VP
[UP
[VP
[UP
[VP
[UP
[UX
[UP
[UX
[UP
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UX
[UX
[UX
[UX
[UP
[UX
[UP
[UX
[UP
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UX
[UP
[UX
[VP
[UX
[VP
[UX
[VP
[VP
[UPUX
[UPUX
[UPUP
[VPUP
[VPUP
[VPVP
[VPVP
[VPVP
[VPVP
[VPVP
[UX
[UX
T D * 1 30 & # T B
# J T US JB
T US % S V N V M $F U J J O S
PP
0DV
FXSUX
LQI
8'M6gN
8'M6gN";
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFOSFUJDVMBU
JNBOUBEF17$
DVBSNUVSEFTSNFEFPFM[JODBU
TJNJMBSF/93:DPOGPSN7%&
8'M6gN
8'M6gN";
*URVLPH *URVLPH
'LDPHWUX
1XPUFRQGXFWRDUH[
QRPLQDO QRPLQDO
H[WHULRU
VHFLXQHQRPLQDO
L]RODLH
PDQWD
QRPPD[
PP
&RQVWUXFLH
&RQGXFWRUGHFXSUXFODVDVDXFODVDFRQIRUP65&(,
,]RODLHGHSROLHWLOHQUHWLFXODW;/3(
QYHOLLQWHUQ
$UPWXUGHVkUPHGHRHO]LQFDW$U
0DQWDH[WHULRDUGH39&WLS67FRQIRUP65&(,
'RPHQLXGHXWLOL]DUH
NJNP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UP
[VP
[VP
[VP
[UPUX
[UPUX
[UPUP
[VPUP
[VPUP
[VPVP
[VPVP
[VPVP
[VPVP
[VPVP
[UX
[UX
N9+]WLPSGHPLQXWH
[UX
[GLDPHWUXOH[WHULRUSHQWUX
FDEOXULFXXQFRQGXFWRU
[UX
[UX
[GLDPHWUXOH[WHULRUSHQWUX
FDEOXULPXOWLFRQGXFWRDUH
[UX
[UP
[UP
[VP
[VP
[VP
[VP
[VP
[VP
[UX
[UX
[UX
[UX
[UX
65&(,
6),352(%
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
ODPRQWDMR&
5D]DPLQLPGHFXUEXU
NJNP
7HQVLXQHDGHvQFHUFDUH
PP
7HQVLXQHDQRPLQDO
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
PP
'DWHWHKQLFH
6WDQGDUGGHSURGXV
0DV
FDEOX
LQI
PP
[VP
&DEOXULOHVXQWGHVWLQDWHSHQWUXXWLOL]DUHDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH[H
6WDQGDUGGHUHIHULQ
0DV
FXSUX
LQI
vQH[SORDWDUH&
vQH[SORDWDUHQRUPDOR&
ODVFXUWFLUFXLWPD[VHFR&
&;$U<FDEOXFXvQWkU]LHUHODSURSDJDUHDFULLFRUHVSXQGHODLQFHUFDUHDODIRF
FRQIRUP65(1
&;$U<)FDEOXFXvQWkU]LHUHPULWODSURSDJDUHDFULLFRUHVSXQGHOD
vQFHUFDUHDODIRFFRQIRUP65(1FDWHJRULD&
6HPQLFDLHVLPEROXULFRQGXFWRU
UXFRQGXFWRUURWXQGXQLODUFODVD
UPFRQGXFWRUURWXQGPXOWLODUFODVD
VPFRQGXFWRUVHFWRUPXOWLODUFODVD
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
$
%
&
'
(
)
*
+
,
.
/
0
8'M'N
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFOSFUJDVMBU
JNBOUBEF17$
DVBSNUVSEFTSNFEFPFM[JODBU
TJNJMBSF/93:DPOGPSN7%&
8'M6gN
8'M6gN";
DPOUJOVBSF
*URVLPH *URVLPH
'LDPHWUX
1XPUFRQGXFWRDUH[
QRPLQDO QRPLQDO
H[WHULRU
VHFLXQHQRPLQDO
L]RODLH
PDQWD
QRPPD[
PP
$
%
&
'
(
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFO
SFUJDVMBUJNBOUBEFQPMJFUJMFO
UFSNPQMBTUJD
0DV
FXSUX
LQI
0DV
FDEOX
LQI
NJNP
PP
PP
PP
NJNP
[UX
[UP
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
&RQVWUXFLH
&RQGXFWRUGHFXSUXFODVDVDXFODVDFRQIRUP65&(,
,]RODLHGHSROLHWLOHQUHWLFXODW;/3(
QYHOLLQWHUQ
0DQWDH[WHULRDUGHSROLHWLOHQWHUPRSODVWLF
'RPHQLXGHXWLOL]DUH
&DEOXULOHVXQWGHVWLQDWHSHQWUXXWLOL]DUHDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH[H
'DWHWHKQLFH
6WDQGDUGGHSURGXV
6),352(%
6WDQGDUGGHUHIHULQ
65&(,
7HQVLXQHDQRPLQDO
7HPSHUDWXUDPLQLPDGPLVLELOSHPDQWD
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
7HQVLXQHDGHvQFHUFDUH
5D]DPLQLPGHFXUEXU
UXFRQGXFWRUURWXQGXQLODUFODVD
UPFRQGXFWRUURWXQGPXOWLODUFODVD
VPFRQGXFWRUVHFWRUPXOWLODUFODVD
T D * 1 30 & # T B
# J T US JB
T US % S V N V M $F U J J O S
ODPRQWDMR&
vQH[SORDWDUH&
vQH[SORDWDUHQRUPDOR&
ODVFXUWFLUFXLWPD[VHFR&
N9+]WLPSGHPLQXWH
[GLDPHWUXOH[WHULRUSHQWUXFDEOXUL
FXXQFRQGXFWRU
[GLDPHWUXOH[WHULRUSHQWUXFDEOXUL
PXOWLFRQGXFWRDUH
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFOSFUJDVMBU
JNBOUBEFQPMJFUJMFOUFSNPQMBTUJD
8'M'N
8'M'N
*URVLPH
QRPLQDO
PDQWD
'LDPHWUX
H[WHULRU
QRPLQDO
LQI
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
NJNP
NJNP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UX
[UX
DPOUJOVBSF
*URVLPH
QRPLQDO
PDQWD
'LDPHWUX
H[WHULRU
QRPLQDO
LQI
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
NJNP
NJNP
[UX
[UX
[UX
[UP
[UP
[VP
[VP
[VP
[VP
[VP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UP
[VP
[VP
[VP
*URVLPH
1XPUFRQGXFWRDUH
QRPLQDO
[VHFLXQHQRPLQDO
L]RODLH
PP
[UPUX
[UPUX
[UPUX
[VPUP
[VPUP
[VPVP
[VPVP
[VPVP
[VPVP
[UX
[UX
[UX
[VP
*URVLPH
1XPUFRQGXFWRDUH
QRPLQDO
[VHFLXQHQRPLQDO
L]RODLH
PP
$
%
&
'
(
)
*
+
,
.
/
0
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
C'M'N
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFO
SFUJDVMBUJNBOUBEFQPMJFUJMFOUFSNPQMBTUJD
C'M'N
$
%
&
'
(
)
*
+
,
.
/
0
&RQVWUXFLH
&RQGXFWRUGHFXSUXFODVDVDXFODVDFRQIRUP65&(,
,]RODLHGHSROLHWLOHQUHWLFXODW;/3(
QYHOLLQWHUQ
0DQWDH[WHULRDUGHSROLHWLOHQWHUPRSODVWLF
'RPHQLXGHXWLOL]DUH
&DEOXULOHVXQWGHVWLQDWHSHQWUXXWLOL]DUHDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH[H
'DWHWHKQLFH
6WDQGDUGGHSURGXV
9'(
7HQVLXQHDQRPLQDO
7HPSHUDWXUDPLQLPDGPLVLELOSHPDQWD
ODPRQWDMR&
vQH[SORDWDUH&
vQFRQGLLLQRUPDOH
R
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU GHH[SORDWDUH &
ODVFXUWFLUFXLWPD[VHFR&
7HQVLXQHDGHvQFHUFDUH
5D]DPLQLPGHFXUEXUODSR]DUH
N9+]WLPSGHPLQXWH
[GLDPHWUXOH[WHULRUSHQWUXFDEOXUL
FXXQFRQGXFWRU
[GLDPHWUXOH[WHULRUSHQWUXFDEOXUL
PXOWLFRQGXFWRDUH
5(FRQGXFWRUURWXQGXQLODUFODVD
50FRQGXFWRUURWXQGPXOWLODUFODVD
60FRQGXFWRUVHFWRUPXOWLODUFODVD
*URVLPH
QRPLQDO
L]RODLH
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
PP
NJNP
NJNP
[5(
[5(
[5(
[5(
[5(
[5(
[50
[50
[50
[50
[50
[50
[50
[50
[50
[50
[50
[50
[5(
[5(
[5(
[5(
[5(
[5(
[50
[5(
[5(
[5(
[5(
[5(
[5(
[50
[50
[60
[60
[60
[60
[505(
[505(
[5050
[6050
[6050
[6060
[6060
[6060
[6060
[6060
[5(
T D * 1 30 & # T B
# JT US JB
T US % S V N V M $F U J J O S
'LDPHWUX
*URVLPH
H[WHULRU
QRPLQDO
QRPLQDO
PDQWD
LQI
1XPUFRQGXFWRDUH[
VHFLXQHQRPLQDO
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFOSFUJDVMBU
JNBOUBEFQPMJFUJMFOUFSNPQMBTUJD
C'M'N
J"&%%%G%'K
J"&%%%G&'K
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFO
SFUJDVMBUJNBOUBEF17$
DPOUJOVBSF
'LDPHWUX
*URVLPH
H[WHULRU
QRPLQDO
QRPLQDO
PDQWD
LQI
1XPUFRQGXFWRDUH[
VHFLXQHQRPLQDO
*URVLPH
QRPLQDO
L]RODLH
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
PP
NJNP
NJNP
[5(
[5(
[5(
[5(
[5(
[50
[50
[60
[60
[60
[60
[60
[5(
[5(
&RQVWUXFLH
[5(
[5(
[5(
[5(
&RQGXFWRUGHFXSUXFODVDVDXFODVDFRQIRUP65&(,
,]RODLHGHSROLHWLOHQUHWLFXODW;/3(
QYHOLLQWHUQGLQEHQ]LVDXH[WUXGDW
0DQWDH[WHULRDUGH39&
[50
'RPHQLXGHXWLOL]DUH
$
%
&
'
(
)
&DEOXULOHVXQWGHVWLQDWHSHQWUXXWLOL]DUHDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH[H
'DWHWHKQLFH
6WDQGDUGGHSURGXV
1)&
7HQVLXQHDQRPLQDO
88 N9
ODPRQWDM &
7HPSHUDWXUDPLQLPPVXUDWSHPDQWD
vQH[SORDWDUH&
vQFRQGLLLQRUPDOHGHH[SORDWDUH
R&
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
vQH[SORDWDUHQRUPDOR&
ODVFXUWFLUFXLWPD[VHFR&
7HQVLXQHDGHvQFHUFDUH
N9+]PLQXWH
859FDEOXFXVDXIUvQYHOLLQWHUQGLVWLQFW
859FDEOXvQFDUHPDQWDXDH[WHULRDUIRUPHD]vQYHOLXOLQWHUQ
&DEOXULOHVXQWFXvQWkU]LHUHODSURSDJDUHDFULL
/DFHUHUHVHSRWSURGXFHLvQYDULDQWDFXvQWkU]LHUHPULWODSURSDJDUHDFULL
FRUHVSXQGODvQFHUFDUHDODIRFFRQIRUP65(1FDWHJRULD&
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
,
.
/
0
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFOSFUJDVMBUJNBOUBEF17$
J"&%%%G%'K
$
%
&
'
(
)
*
+
,
.
/
0
J"&%%%G&'K
J"&%%%G%'K
J"&%%%G&'K
DPOUJOVBSF
1XPU
FRQGXFWRDUH[
VHFLXQHQRPLQDO
*URVLPH
QRPLQDO
L]RODLH
*URVLPH
QRPLQDO
PDQWD
'LDPHWUX
H[WHULRU
QRPLQDO
LQI
0DV
FXSUX
LQI
0DV
FDEOX
LQI
1XPU
FRQGXFWRDUH[
VHFLXQHQRPLQDO
*URVLPH
QRPLQDO
L]RODLH
*URVLPH
QRPLQDO
PDQWD
'LDPHWUX
H[WHULRU
QRPLQDO
LQI
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
PP
NJNP
NJNP
PP
PP
PP
PP
NJNP
NJNP
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
[
T D * 1 30 & # T B
# J T US JB
T US % S V N V M $F U J J O S
68'MN
68'MN";
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFO
SFUJDVMBUJNBOUBEF17$
68'MN
&RQGXFWRUGHDOXPLQLXFODVDVDXFODVDFRQIRUP65&(,
,]RODLHGHSROLHWLOHQUHWLFXODW;/3(
QYHOLLQWHUQ
0DQWDH[WHULRDUGH39&WLS67FRQIRUP65&(,
'RPHQLXGHXWLOL]DUH
&DEOXULOHVXQWGHVWLQDWHSHQWUXXWLOL]DUHDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH[H
'DWHWHKQLFH
6WDQGDUGGHSURGXV
1)&
7HQVLXQHDQRPLQDO
88 N9
7HPSHUDWXUDPLQLPDGPLVLELOSHPDQWD
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
7HQVLXQHDGHvQFHUFDUH
ODPRQWDMR&
vQH[SORDWDUH&
vQH[SORDWDUHQRUPDOR&
ODVFXUWFLUFXLWPD[VHFR&
N9+]PLQXWH
859FDEOXFXVDXIUvQYHOLLQWHUQGLVWLQFW
859FDEOXvQFDUHPDQWDXDH[WHULRDUIRUPHD]vQYHOLXOLQWHUQ
&DEOXULOHVXQWFXvQWkU]LHUHODSURSDJDUHDFULL
/DFHUHUHVHSRWSURGXFHLvQYDULDQWDFXvQWkU]LHUHPULWODSURSDJDUHDFULL
FRUHVSXQGODvQFHUFDUHDODIRFFRQIRUP65(1FDWHJRULD&
68'MN
68'MN";
1XPU
FRQGXFWRDUH[
VHFLXQHQRPLQDO
*URVLPH
QRPLQDO
L]RODLH
*URVLPH
QRPLQDO
PDQWD
PP
PP
PP
'LDPHWUX
H[WHULRU
QRPLQDO
LQI
PP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UX
0DV
DOXPLQLX
LQI
0DV
FDEOX
LQI
NJNP
NJNP
DPOUJOVBSF
PP
PP
PP
'LDPHWUX
H[WHULRU
QRPLQDO
LQI
PP
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[VX
[VP
[VX
[VP
[VP
[VP
[VP
[VP
[VP
[UXUX
[UXUX
[UXUX
[VXUX
[VPUX
[VXUX
[VPUX
[VPVP
[VPVP
[VPVP
[VPVP
[VPVP
[UX
[UX
[UX
[UX
[UX
[UX
[VX
[VP
[VX
[VP
[VP
[VP
[VP
[VP
[VP
[UX
[UX
[UX
[UX
[UX
1XPU
FRQGXFWRDUH[
VHFLXQHQRPLQDO
&RQVWUXFLH
68'MN";
*URVLPH
QRPLQDO
L]RODLH
*URVLPH
QRPLQDO
PDQWD
0DV
DOXPLQLX
LQI
0DV
FDEOX
LQI
NJNP
NJNP
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
$
%
&
'
(
)
*
+
,
.
/
0
8'MH;'N
8'M:;'N
$BCMVSJEFFOFSHJFNPOPDPOEVDUPBSFDVJ[PMBJF
EFQPMJFUJMFOSFUJDVMBU
DVFDSBOEFTSNFEF
DVQSVJNBOUBEFQPMJFUJMFOUFSNPQMBTUJD
DVQSPUFDJFMPOHJUVEJOBMMBQUSVOEFSFBBQFJ
QFOUSVUFOTJVOFBEF7DVSFOUDPOUJOVV
$BCMVSJEFFOFSHJFNPOPDPOEVDUPBSFDVJ[PMBJF
EFQPMJFUJMFOSFUJDVMBU
DVFDSBOEFCBOEEF
DVQSVJNBOUBEFQPMJFUJMFOUFSNPQMBTUJD
DV
QSPUFDJFMPOHJUVEJOBMMBQUSVOEFSFBBQFJ
QFOUSVUFOTJVOFBEF7DVSFOUDPOUJOVV
$
%
&
'
(
)
*
+
,
.
&RQVWUXFLH
&RQVWUXFLH
&RQGXFWRUGHFXSUXPXOWLODUFODVDGHH[LELOLWDWHFRQIRUP65&(,
,]RODLHGHSROLHWLOHQUHWLFXODW;/3(FRQIRUP65&(,
6WUDWVHSDUDWRUGHEDQGVHPLFRQGXFWRDUHFXEDULHUODSURSDJDUHDDSHL
(FUDQGHVkUPHGHFXSUXFXFRQWUDVSLUGLQEDQGGHFXSUX
6WUDWVHSDUDWRUGHEDQGFXEDULHUODSURSDJDUHDDSHL
0DQWDGHSROLHWLOHQWHUPRSODVWLFGHPHGLHGHQVLWDWH0'3(WLS67FRQIRUP
65&(,GHFXORDUHQHDJU
&RQGXFWRUGHFXSUXPXOWLODUFODVDGHH[LELOLWDWHFRQIRUP65&(,
,]RODLHGHSROLHWLOHQUHWLFXODW;/3(FRQIRUP65&(,
6WUDWVHSDUDWRUGHEDQGVHPLFRQGXFWRDUHFXEDULHUODSURSDJDUHDDSHL
(FUDQGLQEDQGGHFXSUX
6WUDWVHSDUDWRUGHEDQGFXEDULHUODSURSDJDUHDDSHL
0DQWDGHSROLHWLOHQWHUPRSODVWLFGHPHGLHGHQVLWDWH0'3(WLS67FRQIRUP
65&(,GHFXORDUHQHDJU
'RPHQLXGHXWLOL]DUH
'RPHQLXGHXWLOL]DUH
&DEOXULOHVXQWGHVWLQDWHSHQWUXXWLOL]DUHvQGRPHQLXOWUDFLXQLLHOHFWULFHODDOLPHQWDUHD
vQ FXUHQW FRQWLQXX D OLQLLORU GH WUROHLEXV WUDPYDL VDX PHWURX vQ LQVWDODLL HOHFWULFH
[H&DEOXULOHVXQWvQH[HFXLHSHQWUXWHQVLXQHDGHN9SHQWUXDPDLVLJXUH
vQ H[SORDWDUH /D FHUHUH SHVWH PDQWDXD GH SROLHWLOHQ VH SRDWH DSOLFD XQ VWUDW
VHPLFRQGXFWRUSHQWUXDVHIDFLOLWDYHULFDUHDUH]LVWHQHLGHL]RODLHDPDQWDOHLGXS
PRQWDUHDFDEOXOXL
&DEOXULOHVXQWGHVWLQDWHSHQWUXXWLOL]DUHvQGRPHQLXOWUDFLXQLLHOHFWULFHODDOLPHQWDUHD
vQ FXUHQW FRQWLQXX D OLQLLORU GH WUROHLEXV WUDPYDL VDX PHWURX vQ LQVWDODLL HOHFWULFH
[H&DEOXULOHVXQWvQH[HFXLHSHQWUXWHQVLXQHDGHN9SHQWUXDPDLVLJXUH
vQ H[SORDWDUH /D FHUHUH SHVWH PDQWDXD GH SROLHWLOHQ VH SRDWH DSOLFD XQ VWUDW
VHPLFRQGXFWRUSHQWUXDVHIDFLOLWDYHULFDUHDUH]LVWHQHLGHL]RODLHDPDQWDOHLGXS
PRQWDUHDFDEOXOXL
'DWHWHKQLFH
'DWHWHKQLFH
6WDQGDUGGHSURGXV
6),352(%
6WDQGDUGGHSURGXV
6WDQGDUGGHUHIHULQ
65&(,
6WDQGDUGGHUHIHULQ
65&(,
7HQVLXQHDQRPLQDO
7HQVLXQHDQRPLQDO
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
ODPRQWDMR&
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
ODPRQWDMR&
vQH[SORDWDUH&
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
vQH[SORDWDUHQRUPDO &
R
6),352(%
vQH[SORDWDUH&
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
vQH[SORDWDUHQRUPDOR&
ODVFXUWFLUFXLWPD[VHFR&
7HQVLXQHDGHvQFHUFDUH
N9+]VDXN9FFWLPSGH
PLQXWH
7HQVLXQHDGHvQFHUFDUH
N9+]VDXN9FFWLPSGH
PLQXWH
5D]DPLQLPGHFXUEXU
[GLDPHWUXOH[WHULRU
5D]DPLQLPGHFXUEXU
[GLDPHWUXOH[WHULRU
/
0
5H]LVWHQD
1XPU
5H]LVWHQD
*URVLPH *URVLPH 'LDPHWUXH[WHULRU
HOHFWULFD 0DV
FRQGXFWRDUH
GHL]RODLH
QRP QRP
HFUDQXOXL FDEOX
R
[VHFLXQH
OD &
L]RODLH PDQWD
ODR& LQI
QRPLQDO
PLQ
QRP
PD[
PD[
5H]LVWHQD
1XPU
5H]LVWHQD
*URVLPH *URVLPH 'LDPHWUXH[WHULRU
HOHFWULFD 0DV
FRQGXFWRDUH
GHL]RODLH
QRP QRP
HFUDQXOXL FDEOX
R
[VHFLXQH
OD &
L]RODLH PDQWD
ODR& LQI
QRPLQDO
PLQ
QRP
PD[
PD[
PP
PP
PP
PP
PP
0:NP
:NP
NJNP
PP
PP
PP
PP
PP
0:NP
:NP
NJNP
[
[
[
[
[
[
[
[
[
[
[
[
T D * 1 30 & # T B
# J T US JB
T US % S V N V M $F U J J O S
8==
$BCMVSJEFFOFSHJFDVJ[PMBJFJNBOUBEF
QPMJFUJMFOUFSNPQMBTUJD
GSIBMPHFOJ
DV
FNJTJFSFEVTEFGVN -4')
8==
*URVLPH
*URVLPH
'LDPHWUX
1XPUFRQGXFWRDUH[
QRPLQDO
QRPLQDO
H[WHULRU
VHFLXQHQRPLQDO
PDQWD
L]RODLH
LQI
H[WHULRDU
PP
&RQVWUXFLH
&RQGXFWRUGHFXSUXFODVDVDXFODVDFRQIRUP65&(,
,]RODLHGHSROLHWLOHQWHUPRSODVWLFFXHPLVLHUHGXVGHIXPLGHJD]HFRURVLYH
/6)+
QYHOLLQWHUQ
0DQWDH[WHULRDUGHSROLHWLOHQWHUPRSODVWLFFXHPLVLHUHGXVGHIXPLGHJD]H
FRURVLYH/6)+WLS+0FRQIRUP+'
'RPHQLXGHXWLOL]DUH
&DEOXULOHVXQWGHVWLQDWHSHQWUXLQVWDODLLHOHFWULFH[HvQFOGLULSXEOLFHXQGHSRDWH
SXVvQSHULFROYLDDVDXYDORULPDWHULDOHLPSRUWDQWH
/DDUGHUHFDEOXULOHQXGHJDMJD]HWR[LFHLFRURVLYHLDXHPLVLHUHGXVGHIXP
&DEOXULOHSRWPRQWDWHvQVSDLLvQFKLVHvQDHUOLEHU1XHVWHSHUPLVPRQWDUHDORU
GLUHFWvQSPkQWVDXvQDS
'DWHWHKQLFH
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
NJNP
NJNP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UX
[UX
[UX
6),352(%
[UX
7HQVLXQHDQRPLQDO
[UX
ODPRQWDMR&
[UX
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
[UP
6WDQGDUGGHSURGXV
vQH[SORDWDUH&
[UPUP
[UP
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
R&
vQFRQGLLLQRUPDOHGHH[SORDWDUH
7HQVLXQHDGHvQFHUFDUH
[UPUP
[VP
N9+]WLPSGHPLQXWH
[VPUP
&RPSRUWDPHQWXOODDUGHUH
&DEOXULOHVXQWFXvQWkU]LHUHPULWODSURSDJDUHDFULLFRQIRUP65(1
FDWHJRULD&
&RURVLYLWDWHDJD]HORUGHJDMDWHODDUGHUHFRQIRUP65(1
S+t
FRQGXFWLYLWDWHDdP6FP
'HQVLWDWHDIXPXOXLFRQIRUP65(1
SHUPHDELOLWDWHDOXPLQLLt
5D]DPLQLPGHFXUEXU
[VP
[VPUP
[VP
[VPVP
[VP
[VPUP
[VP
[GLDPHWUXOH[WHULRUSHQWUXFDEOXUL
FXXQFRQGXFWRU
[GLDPHWUXOH[WHULRUSHQWUXFDEOXUL
PXOWLFRQGXFWRDUH
UXFRQGXFWRUURWXQGXQLODUFODVD
UPFRQGXFWRUURWXQGPXOWLODUFODVD
VPFRQGXFWRUVHFWRUPXOWLODUFODVD
[VPVP
[VP
[VPVP
[VP
[VPVP
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
$
%
&
'
(
)
*
+
,
.
/
0
8'M=
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFO
SFUJDVMBU
JNBOUBEFQPMJFUJMFO
UFSNPQMBTUJD
GSIBMPHFOJDVFNJTJF
SFEVTEFGVN -4')
$BCMVSJEFFOFSHJFDVJ[PMBJFJNBOUBEFQPMJFUJMFOUFSNPQMBTUJD
GSIBMPHFOJ
DVFNJTJFSFEVTEFGVN -4')
8==
DPOUJOVBSF
*URVLPH
*URVLPH
'LDPHWUX
1XPUFRQGXFWRDUH[
QRPLQDO
QRPLQDO
H[WHULRU
VHFLXQHQRPLQDO
PDQWD
L]RODLH
LQI
H[WHULRDU
PP
$
%
&
'
(
)
*
+
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
NJNP
NJNP
PP
PP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UP
[VP
[VP
[VP
[VP
[VP
[VP
[VP
[UX
'RPHQLXGHXWLOL]DUH
[UX
[UX
[UX
[UX
&DEOXULOHVXQWGHVWLQDWHSHQWUXLQVWDODLLHOHFWULFH[HLQFHQWUDOHHOHFWULFHvQFOGLUL
SXEOLFHJULDHURJDULVWDLLGHPHWURXVXSHUPDUNHWXULVOLGHVSHFWDFROHVSLWDOH
HWF/DDUGHUHFDEOXULOHQXGHJDMJD]HWR[LFHLFRURVLYHLDXHPLVLHUHGXVGH
IXP&DEOXULOHVHSRWLQVWDODvQORFXULXPHGHGDUQXGLUHFWvQDSVDXvQSPkQW
[UX
[UP
6WDQGDUGGHUHIHULQ
[UP
6WDQGDUGGHSURGXV
6),352(%
7HQVLXQHDQRPLQDO
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
ODPRQWDMR&
&RQVWUXFLH
&RQGXFWRUGHFXSUXFODVDVDXFODVDFRQIRUP65&(,
,]RODLHGHSROLHWLOHQUHWLFXODWWLS;,FRQIRUP+'
QYHOLLQWHUQ
0DQWDH[WHULRDUGHSROLHWLOHQWHUPRSODVWLFFXHPLVLHUHGXVDGHIXPLJD]H
FRURVLYH/6)+WLS+0FRQIRUP+'
'DWHWHKQLFH
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
7HQVLXQHDGHvQFHUFDUH
9'(FDEOXULWLS1;+
vQH[SORDWDUH&
vQFRQGLLLQRUPDOH
GHH[SORDWDUHR&
ODVFXUWFLUFXLW
PD[VHFXQGHR&
N9+]WLPSGHPLQXWH
&RPSRUWDPHQWXOODDUGHUH
&DEOXULOHVXQWFXvQWkU]LHUHPULWODSURSDJDUHDFULLFRQIRUP65(1
FDWHJRULD&
&RURVLYLWDWHDJD]HORUGHJDMDWHODDUGHUHFRQIRUP65(1
S+t
FRQGXFWLYLWDWHDdP6FP
'HQVLWDWHDIXPXOXLFRQIRUP65(1
SHUPHDELOLWDWHDOXPLQLLt
[GLDPHWUXOH[WHULRUSHQWUXFDEOXUL
FXXQFRQGXFWRU
5D]DPLQLPGHFXUEXUODSR]DUH
[GLDPHWUXOH[WHULRUSHQWUXFDEOXUL
PXOWLFRQGXFWRDUH
/
0
6HPQLFDLHVLPEROXULFRQGXFWRU
UXFRQGXFWRUURWXQGXQLODUFODVD
UPFRQGXFWRUURWXQGPXOWLODUFODVD
VPFRQGXFWRUVHFWRUPXOWLODUFODVD
/DFHUHUHVHSRWH[HFXWDFDEOXULFXFRQGXFWRDUHH[LELOHFODVD
T D * 1 30 & # T B
# J T US JB
T US % S V N V M $F U J J O S
$BCMVSJEFFOFSHJFDVJ[PMBJFEFQPMJFUJMFOSFUJDVMBU
JNBOUBEF
QPMJFUJMFOUFSNPQMBTUJD
GSIBMPHFOJDVFNJTJFSFEVTEFGVN
-4')
8'M=
8'M=
*URVLPH 'LDPHWUX
*URVLPH
1XPUFRQGXFWRDUH[
QRPLQDO H[WHULRU
QRPLQDO
VHFLXQHQRPLQDO
PDQWD
QRPLQDO
L]RODLH
H[WHULRDU
LQI
PP
0DV
FXSUX
LQI
0DV
FDEOX
LQI
NJNP
PP
PP
PP
NJNP
[UX
[UX
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
DPOUJOVBSF
*URVLPH 'LDPHWUX
*URVLPH
1XPUFRQGXFWRDUH[
QRPLQDO H[WHULRU
QRPLQDO
VHFLXQHQRPLQDO
PDQWD
QRPLQDO
L]RODLH
H[WHULRDU
LQI
0DV
FDEOX
LQI
PP
PP
PP
NJNP
NJNP
[UX
[UX
[UX
[UX
[UP
[UP
[VP
[VP
[VP
[VP
[VP
[VP
[UP
[VP
[UP
[UX
[UP
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UX
[UP
[UP
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UX
[UP
[UX
[VP
[UX
[VP
[UX
[VP
[UX
[VP
[UX
[VP
[UX
[VP
[UX
[UPUX
[UX
[UPUX
[UX
[UPUP
[UX
[VPUP
[UX
[VPUP
[UX
[VPVP
[UX
[VPVP
[VPVP
[VPVP
[UX
[UX
PP
0DV
FXSUX
LQI
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
$
%
&
'
(
)
*
+
,
.
/
0
8=M=";:&-%
$BCMVSJEFTFDVSJUBUFDVJ[PMBJFEFQPMJFUJMFOSFUJDVMBU
JNBOUBEFQPMJFUJMFOUFSNPQMBTUJD
GSIBMPHFOJJDV
FNJTJFSFEVTEFGVN -4')
8=M=";:&-%
*URVLPH
QRPLQDO
PDQWD
H[WHULRDU
'LDPHWUX
H[WHULRU
LQI
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
NJNP
NJNP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
*URVLPH
1XPUFRQGXFWRDUH
QRPLQDO
[VHFLXQHQRPLQDO
L]RODLH
PP
[UPUP
[UP
[UPUP
&
'
(
)
*
+
,
.
/
0
[UP
&RQVWUXFLH
[UPUP
[UP
&RQGXFWRUGHFXSUXFODVDVDXFODVDFRQIRUP65&(,
%DQGGHPLF
,]RODLHGHSROLHWLOHQUHWLFXODWFXHPLVLHUHGXVGHIXPLGHJD]HFRURVLYH/6)+
%DQGGLQHVWXUGHEUGHVWLFOUH]LVWHQWODDFUDSOLFDWSHHFDUH
FRQGXFWRUL]RODW
%DQGGLQHVWXUGHEUGHVWLFOUH]LVWHQWODDFUDSOLFDWSHVWH
FRQGXFWRDUHOHvQIXQLDWH
QYHOLFRPXQ/6)+
0DQWDH[WHULRDUGHSROLHWLOHQWHUPRSODVWLFFXHPLVLHUHGXVGHIXPLGHJD]H
FRURVLYH/6)+WLS+0FRQIRUP+'
[UPUP
[UP
[UPUP
[UP
[UPUP
[UP
[UPUP
[UP
'RPHQLXGHXWLOL]DUH
&DEOXULOHVXQWGHVWLQDWHSHQWUXLQVWDODLLHOHFWULFH[HvQFOGLULSXEOLFHXQGHSRDWH
SXVvQSHULFROYLDDVDXYDORULPDWHULDOHLPSRUWDQWH
/DDUGHUHFDEOXULOHQXGHJDMJD]HWR[LFHLFRURVLYHLDXHPLVLHUHGXVGHIXP
&DEOXULOHSRWPRQWDWHvQVSDLLvQFKLVHvQDHUOLEHUvQ]RQHXPHGHVDXXVFDWH
1XHVWHSHUPLVPRQWDUHDORUGLUHFWvQSPkQWVDXvQDS
[UPUP
'DWHWHKQLFH
6WDQGDUGGHSURGXV
6),352(%
6WDQGDUGGHUHIHULQ
',19'(
7HQVLXQHDQRPLQDO
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
ODPRQWDMR&
7HPSHUDWXUDPD[LPDGPLVSHFRQGXFWRU
[UP
vQH[SORDWDUHQRUPDOR&
ODVFXUWFLUFXLWPD[VHFR&
7HQVLXQHDGHvQFHUFDUH
N9+]WLPSGHPLQXWH
5D]DPLQLPGHFXUEXUODSR]DUH
[GLDPHWUXOH[WHULRU
&RPSRUWDPHQWXOODDUGHUH
&DEOXULOHVXQWFXvQWkU]LHUHPULWODSURSDJDUHDFULL
FRQIRUP65(1FDWHJRULD&
&RURVLYLWDWHDJD]HORUGHJDMDWHODDUGHUHFRQIRUP65(1
S+t
FRQGXFWLYLWDWHDdP6FP
'HQVLWDWHDIXPXOXLFRQIRUP65(1SHUPHDELOLWDWHDOXPLQLLt
,QWHJULWDWHDL]RODLHLVXEDFLXQHDGLUHFWDFULLPLQLPPLQXWH)(
FRQIRUP9'(
6HPQLFDLHVLPEROXULFRQGXFWRU
UXFRQGXFWRUURWXQGXQLODUFODVD
UPFRQGXFWRUURWXQGPXOWLODUFODVD
T D * 1 30 & # T B
# JT US JB
T US % S V N V M $F U J J O S
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UX
[UX
[UX
[UX
[UX
[UX
[UP
[UP
[UP
[UX
[UX
[UPUP
vQH[SORDWDUH&
8N:N
8N:6WoN
8N:N";
8N:6WoN";
$BCMVSJEFFOFSHJFDVJ[PMBJFJNBOUBEF17$
FDSBOBUFDVCBOEEFDVQSV
QFOUSV
UFOTJVOFBOPNJOBM66
L7
8N:N
8N:N";
*URVLPH
1XPUFRQGXFWRDUH
QRPLQDO
[VHFLXQHQRPLQDO
L]RODLH
PP
*URVLPH
'LDPHWUX
QRPLQDO
H[WHULRU
PDQWD
LQI
H[WHULRDU
0DV
FDEOX
LQI
NJNP
NJNP
PP
PP
[UX
[UX
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UP
[UX
[UX
[UP
[UP
[VP
[VP
[VP
'RPHQLXGHXWLOL]DUH
[VP
&DEOXULOHVXQWXWLOL]DWHSHQWUXGLVWULEXLDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH[H
[VP
[VP
[VP
8N:6WoN
8N:6WoN";
0DV
FXSUX
LQI
0DV
FDEOX
LQI
&RQVWUXFLH
&RQGXFWRUGHFXSUXFODVDVDXFODVDFRQIRUP65&(,
,]RODLHGH39&
,QYHOLFRPXQ
(FUDQGLQEDQGGHFXSUX
6WUDWVHSDUDWRU
0DQWDLQWHULRDUGH39&
$UPDWXUGLQEDQGGHRHO
0DQWDH[WHULRDUGH39&
'DWHWHKQLFH
6WDQGDUGGHSURGXV
65&(,
7HQVLXQHDQRPLQDO
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
ODPRQWDM &
R
vQH[SORDWDUH&
7HPSHUDWXUDPD[LPDFRQGXFWRUXOXL
vQFRQGLLLQRUPDOHGHH[SORDWDUH
R&
7HQVLXQHDGHvQFHUFDUH
N9+]WLPSGHPLQXWH
5D]DPLQLPGHFXUEXUODSR]DUH
*URVLPH
1XPUFRQGXFWRDUH
QRPLQDO
[VHFLXQHQRPLQDO
L]RODLH
PP
PP
0DV
FXSUX
LQI
*URVLPH
'LDPHWUX
QRPLQDO
H[WHULRU
PDQWD
LQI
H[WHULRDU
PP
PP
PP
NJNP
NJNP
[UX
[GLDPHWUXOFDEOXOXLFXXQ
FRQGXFWRU
[UX
[UP
[GLDPHWUXOFDEOXOXLFXPDLPXOWH
FRQGXFWRDUH
[UP
[VP
[VP
[VP
[VP
[VP
[VP
[VP
QVLPERO
UXFRQGXFWRUURWXQGXQLODU
UPFRQGXFWRUURWXQGPXOWLODU
VPFRQGXFWRUVHFWRUPXOWLODU
&DEOXULOHFDUHDX)ODVIkULWXOVLPEROXOXLVXQWFXvQWkU]LHUHPULWODSURSDJDUHD
FULLFRQIRUP65(1FDWHJRULD&
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
$
%
&
'
(
)
*
+
,
.
/
0
8N:N
8N:N";
8N:6WN
8N:6WoN";
68N:N
68N:N";
68N:6WoN
68N:6WoN";
$BCMVSJEFFOFSHJFEFNFEJFUFOTJVOFDVJ[PMBJFJNBOUBEF17$
FDSBOBUFDVCBOEEF
DVQSV
QFOUSVUFOTJVOFBOPNJOBM66
L7
8N:N
8N:N";
*URVLPH
1XPUFRQGXFWRDUH
QRPLQDO
[VHFLXQHQRPLQDO
L]RODLH
$
%
&
'
(
)
*
+
,
.
/
0
&RQVWUXFLH
&RQGXFWRUGHFXSUXVDXDOXPLQLXFODVDFODVDFRQIRUP65&(,
,]RODLHGH39&
,QYHOLFRPXQ
%DQGVHPLFRQGXFWDRUH
(FUDQGLQEDQGGHFXSUX
0DQWDLQWHULRDUGH39&
$UPDWXUGLQEDQGGHRHO
0DQWDH[WHULRDUGH39&
'RPHQLXGHXWLOL]DUH
&DEOXULOHVXQWXWLOL]DWHSHQWUXGLVWULEXLDHQHUJLHLHOHFWULFHvQLQVWDODLLHOHFWULFH[H
'DWHWHKQLFH
6WDQGDUGGHUHIHULQ
65&(,
6WDQGDUGGHSURGXV
1U,352(%
7HQVLXQHDQRPLQDO
88 N9
7HQVLXQHDPD[LP
N9
5H]LVWHQDHOHFWULFDHFUDQXOXLODR&
PD[LP:NP
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
ODPRQWDMR&
7HPSHUDWXUDPD[LPDFRQGXFWRUXOXL
vQH[SORDWDUHQRUPDO
*URVLPH
'LDPHWUX
QRPLQDO
H[WHULRU
PDQWD
LQI
H[WHULRDU
0DV
FXSUX
LQI
0DV
FDEOX
LQI
PP
PP
PP
PP
NJNP
NJNP
[UP
[UP
[VP
[VP
[VP
[VP
[VP
[VP
[VP
8N:6WoN
8N:6WoN";
[UP
[UP
[VP
[VP
[VP
[VP
[VP
[VP
[VP
68N:N
68N:N";
0DV
DOXPLQLX
LQI
0DV
FDEOX
LQI
*URVLPH
1XPUFRQGXFWRDUH
QRPLQDO
[VHFLXQHQRPLQDO
L]RODLH
*URVLPH
'LDPHWUX
QRPLQDO
H[WHULRU
PDQWD
LQI
H[WHULRDU
PP
PP
PP
PP
NJNP
NJNP
[UP
[UP
[VP
[VP
vQH[SORDWDUH&
[VP
R&
[VP
[VP
[VP
[VP
68N:6WoN
68N:6WoN";
[UP
[UX
[UP
[VP
[VP
[VP
[VP
[VP
[VP
[VP
7HPSHUDWXUDPD[LPDFRQGXFWRUXOXL
vQUHJLPGHVFXUWFLUFXLW
R&PD[LPVHFXQGH
7HQVLXQHDGHvQFHUFDUH
N9+]WLPSGHPLQXWH
QVLPERO
UXFRQGXFWRUURWXQGXQLODU
UPFRQGXFWRUURWXQGPXOWLODU
VPFRQGXFWRUVHFWRUPXOWLODU
&DEOXULOHFDUHDX)ODVIkULWXOVLPEROXOXLVXQWFXvQWkU]LHUHPULWODSURSDJDUHD
FULL
T D * 1 30 & # T B
# J T US JB
T US % S V N V M $F U J J O S
'MH:N
6'MH:N
'MH:N6WN
6'MH:N6WN
$BCMVSJEFFOFSHJFEFNFEJFUFOTJVOF
DVUSFJDPOEVDUPBSFJ[PMBUFDVQPMJFUJMFO
SFUJDVMBUJDVNBOUBEF17$
QFOUSVUFOTJVOFBOPNJOBM66
L7
'MH:N
1XPU
FRQGXFWRDUH[
VHFLXQH
QRPLQDO
PP
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
*URVLPH
QRPLQDO
L]RODLH
PP
*URVLPH
'LDPHWUX
QRPLQDO H[WHULRU
PDQWD
LQIRUPDWLY
PP
PP
0DV
FXSUX
0DV
FDEOX
LQIRUPDWLY
NJNP
NJNP
'MH:N6WN
1XPU
FRQGXFWRDUH[
VHFLXQH
QRPLQDO
PP
&RQVWUXFLH
&RQGXFWRUGHFXSUXVDXDOXPLQLXFRPSDFWL]DWFODVDFRQIRUP65&(,
6WUDWVHPLFRQGXFWRULQWHULRU
,]RODLH;/3(
6WUDWVHPLFRQGXFWRUH[WHULRU
%DQGVHPLFRQGXFWRDUHRSLRQDO
%DQGGHFXSUX
QYHOLLQWHUQ
0DQWDLQWHULRDUGH39&
$UPWXUGLQEHQ]LGHRHO
0DQWDGH39&
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
'RPHQLXGHXWLOL]DUH
&DEOXULOHVXQWGHVWLQDWHSHQWUXGLVWULEXLDHQHUJLHLHOHFWULFHvQLQVWDODLL[HSHQWUX
WHQVLXQHDQRPLQDO88 N9L8P N9OD+]
&DEOXULOHVXQWGHVWLQDWHSR]ULLvQSPkQWFDQDOHWXEXULvQDHUOLEHU
6WDQGDUGGHUHIHULQ
6),352(%
6WDQGDUGGHSURGXV
65&(,
7HQVLXQHDQRPLQDO
88 N9
7HQVLXQHDPD[LP
8P N9
1XPU
FRQGXFWRDUH[
VHFLXQH
QRPLQDO
PP
7HPSHUDWXUDPD[LPSHFRQGXFWRU R&RUHFRQVHFXWLYGDUQXPDLPXOWGH
vQFRQGLLLGHVXSUDVDUFLQ
RUHDQ
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
7HQVLXQHDGHvQFHUFDUH
FD+]WLPSGHPLQXWHN9
6'MH:N6WN
1LYHOXOGHVFUFULORUSDULDOH
PD[S&
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
7HPSHUDWXUDFRQGXFWRUXOXL
*URVLPH
QRPLQDO
L]RODLH
*URVLPH
'LDPHWUX
QRPLQDO H[WHULRU
PDQWD
LQIRUPDWLY
0DV
FXSUX
0DV
FDEOX
LQIRUPDWLY
PP
PP
PP
NJNP
NJNP
ODPRQWDMR&
vQFRQGLLLGHWUDQVSRUWLGHSR]LWDUH&
vQIXQFLRQDUHDGHGXUDWPD[&
vQUHJLPGHVFXUWFLUFXLWPD[&VHF
1XPU
FRQGXFWRDUH[
VHFLXQH
QRPLQDO
PP
5D]DPLQLPGHFXUEXUODPRQWDM [GLDPHWUXOFDEOXOXL
PVLPEROUPFURWXQGPXOWLODUFRPSDFWL]DW
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
&
'
(
)
*
6'MH:N
'DWHWHKQLFH
*URVLPH
QRPLQDO
L]RODLH
PP
*URVLPH
QRPLQDO
L]RODLH
'LDPHWUX
*URVLPH
QRPLQDO H[WHULRU
LQIRUPDWLY
PDQWD
PP
0DV
FDEOX
LQIRUPDWLY
NJNP
NJNP
*URVLPH
'LDPHWUX
QRPLQDO H[WHULRU
PDQWD
LQIRUPDWLY
0DV
DOXPLQLX
0DV
FDEOX
LQIRUPDWLY
PP
0DV
DOXPLQLX
PP
PP
PP
NJNP
NJNP
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
+
,
.
/
0
'MH:N
6'MH:N
'MH:N6WN
6'MH:N6WN
$BCMVSJEFFOFSHJFEFNFEJFUFOTJVOF
DVUSFJDPOEVDUPBSFJ[PMBUFDVQPMJFUJMFOSFUJDVMBU
JDVNBOUBEF17$
QFOUSVUFOTJVOFBOPNJOBM66L7
'MH:N
1XPU
FRQGXFWRDUH[
VHFLXQH
QRPLQDO
PP
$
%
&
'
(
)
*
+
,
.
/
0
*URVLPH
QRPLQDO
L]RODLH
*URVLPH
'LDPHWUX
QRPLQDO H[WHULRU
PDQWD
LQIRUPDWLY
0DV
FXSUX
0DV
FDEOX
LQIRUPDWLY
PP
PP
PP
NJNP
NJNP
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
0DV
FXSUX
0DV
FDEOX
LQIRUPDWLY
'MH:N6WN
1XPU
FRQGXFWRDUH[
VHFLXQH
QRPLQDO
PP
&RQVWUXFLH
&RQGXFWRUGHFXSUXVDXDOXPLQLXFRPSDFWL]DWFODVDFRQIRUP65&(,
6WUDWVHPLFRQGXFWRULQWHULRU
,]RODLH;/3(
6WUDWVHPLFRQGXFWRUH[WHULRU
%DQGVHPLFRQGXFWRDUHRSLRQDO
%DQGGHFXSUX
QYHOLLQWHUQ
0DQWDLQWHULRDUGH39&
$UPWXUGLQEHQ]LGHRHO
0DQWDGH39&
*URVLPH
QRPLQDO
L]RODLH
PP
*URVLPH
'LDPHWUX
QRPLQDO H[WHULRU
PDQWD
LQIRUPDWLY
PP
PP
NJNP
NJNP
[UPF
[UPF
[UPF
[UPF
[UPF
'RPHQLXGHXWLOL]DUH
[UPF
&DEOXULOHVXQWGHVWLQDWHSHQWUXGLVWULEXLDHQHUJLHLHOHFWULFHvQLQVWDODLL[HSHQWUX
WHQVLXQHDQRPLQDO88 N9L8P N9OD+]
&DEOXULOHVXQWGHVWLQDWHSR]ULLvQSPkQWFDQDOHWXEXULvQDHUOLEHU
[UPF
6'MH:N
0DV
DOXPLQLX
0DV
FDEOX
LQIRUPDWLY
1XPU
FRQGXFWRDUH[
VHFLXQH
QRPLQDO
PP
'DWHWHKQLFH
*URVLPH
QRPLQDO
L]RODLH
*URVLPH
'LDPHWUX
QRPLQDO H[WHULRU
PDQWD
LQIRUPDWLY
6WDQGDUGGHSURGXV
6),352(%
6WDQGDUGGHUHIHULQ
65&(,
PP
PP
PP
NJNP
NJNP
7HQVLXQHDQRPLQDO
88 N9
[UPF
8P N9
[UPF
[UPF
7HQVLXQHDPD[LP
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
7HPSHUDWXUDFRQGXFWRUXOXL
ODPRQWDMR&
[UPF
vQFRQGLLLGHWUDQVSRUWLGHSR]LWDUH&
[UPF
vQIXQFLRQDUHDGHGXUDWPD[&
[UPF
[UPF
[UPF
0DV
DOXPLQLX
0DV
FDEOX
LQIRUPDWLY
vQUHJLPGHVFXUWFLUFXLWPD[&VHF
7HPSHUDWXUDPD[LPSHFRQGXFWRU R&RUHFRQVHFXWLYGDUQXPDLPXOWGH
vQFRQGLLLGHVXSUDVDUFLQ
RUHDQ
7HQVLXQHDGHvQFHUFDUH
FD+]WLPSGHPLQXWHN9
1LYHOXOGHVFUFULORUSDULDOH
PD[S&
6'MH:N6WN
1XPU
FRQGXFWRDUH[
VHFLXQH
QRPLQDO
PP
5D]DPLQLPGHFXUEXUODPRQWDM [GLDPHWUXOFDEOXOXL
T D * 1 30 & # T B
# J T US JB
T US % S V N V M $F U J J O S
*URVLPH
QRPLQDO
L]RODLH
*URVLPH
'LDPHWUX
QRPLQDO H[WHULRU
PDQWD
LQIRUPDWLY
PP
PP
PP
NJNP
NJNP
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
C6'MHN
$BCMVSJEFFOFSHJFEFNFEJFUFOTJVOF
DVJ[PMBJFEJOQPMJFUJMFOSFUJDVMBUJNBOUBEF
17$
QFOUSVUFOTJVOJOPNJOBMF66L7
1XPU
FRQGXFWRDUH
[VHFLXQH
QRPLQDO
PP
*URVLPH *URVLPH
QRPLQDO QRPLQDO
L]RODLH PDQWD
PP
'LDPHWUX
H[WHULRU
PP
PLQ PD[
PP
0DV
DOXPLQLX
0DV
HFUDQ
FXSUX
0DV
FDEOX
LQI
NJNP
NJNP
NJNP
C6'MHN+$&%`K
&RQVWUXFLH
&RQGXFWRUGHDOXPLQLXFRPSDFWL]DWFODVDFRQIRUP65&(,
6WUDWVHPLFRQGXFWRULQWHULRU
,]RODLHGLQSROLHWLOHQUHWLFXODW
6WUDWVHPLFRQGXFWRUH[WHULRU
%DQGVHPLFRQGXFWRDUHRSLRQDO
(FUDQGLQVkUPGHFXSUX
%DQGGHFXSUX
6WUDWVHSDUDWRU
0DQWDGH39&
&DEOXULOHVXQWGHVWLQDWHSHQWUXGLVWULEXLDHQHUJLHLHOHFWULFHvQLQVWDODLL[H
vQLQWHULRUH[WHULRULvQJURSDW
'DWHWHKQLFH
65&(,
6),352(%SHQWUXN9
6WDQGDUGGHSURGXV
6),352(%SHQWUXN9
6),352(%SHQWUXN9
7HPSHUDWXUDFRQGXFWRUXOXL
vQIXQFLRQDUHDGHGXUDW
7HPSHUDWXUDFRQGXFWRUXOXL
vQUHJLPGHVFXUWFLUFXLW
7HQVLXQHDQRPLQDO
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
C6'MHN&-$(%`K
PD[&
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
88 N9
[UPF
[UPF
88 N9
[UPF
PD[R&VHFXQGH
7HPSHUDWXUDPD[LPSHFRQGXFWRU R&RUHFRQVHFXWLYGDUQXPDLPXOW
vQFRQGLLLGHVXSUDVDUFLQ
GHRUHDQ
7HPSHUDWXUDPLQLPDFDEOXOXL
ODPRQWDM
C6'MHN&'$'%`K
'RPHQLXGHXWLOL]DUH
6WDQGDUGGHUHIHULQ
[UPF
88 N9
N9SHQWUXWHQVLXQHDQRPLQDON9
7HQVLXQHDPD[LP
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
7HQVLXQHDGHvQFHUFDUH
FD+]WLPSGHPLQXWH
1LYHOXOGHVFUFULORUSDULDOH
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
PD[S&
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
$
%
&
'
(
)
*
+
,
.
/
0
C6'MH'N
$BCMVSJEFFOFSHJFEFNFEJFUFOTJVOF
DVJ[PMBJFEJOQPMJFUJMFOSFUJDVMBUJNBOUBEF
QPMJFUJMFOUFSNPQMBTUJD
QFOUSVUFOTJVOJOPNJOBMF66L7
1XPU
FRQGXFWRDUH
[VHFLXQH
QRPLQDO
PP
'
(
)
*
+
,
.
/
0
PP
PP
'LDPHWUX
H[WHULRU
PLQ
0DV
DOXPLQLX
0DV
HFUDQ
FXSUX
0DV
FDEOX
LQI
NJNP
NJNP
NJNP
PD[
PP
C6'MH'N+$&%`K
&
*URVLPH *URVLPH
QRP
QRP
L]RODLH PDQWD
&RQVWUXFLH
&RQGXFWRUGHDOXPLQLXFRPSDFWL]DWFODVDFRQIRUP65&(,
6WUDWVHPLFRQGXFWRULQWHULRU
,]RODLHGLQSROLHWLOHQUHWLFXODW
6WUDWVHPLFRQGXFWRUH[WHULRU
%DQGVHPLFRQGXFWRDUHRSLRQDO
(FUDQGLQVkUPGHFXSUX
%DQGGHFXSUX
6WUDWVHSDUDWRU
0DQWDGH3(
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
C6'MH'N&'$'%`K
[UPF
'RPHQLXGHXWLOL]DUH
[UPF
&DEOXULOHVXQWGHVWLQDWHSHQWUXGLVWULEXLDHQHUJLHLHOHFWULFHvQLQVWDODLL[H
vQLQWHULRUH[WHULRULvQJURSDW&DEOXULOHFXPDQWDGHSROLHWLOHQVXQWIUvQWkU]LHUH
ODSURSDJDUHDFULL
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
'DWHWHKQLFH
6WDQGDUGGHUHIHULQ
65&(,
6),352(%SHQWUXN9
6WDQGDUGGHSURGXV
6),352(%SHQWUXN9
6),352(%SHQWUXN9
7HQVLXQHDQRPLQDO
C6'MH'N&-$(%`K
88 N9
88 N9
88 N9
N9SHQWUXWHQVLXQHDQRPLQDON9
7HQVLXQHDPD[LP
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
7HPSHUDWXUDPLQLPDFDEOXOXL
ODPRQWDM
7HPSHUDWXUDFRQGXFWRUXOXL
vQIXQFLRQDUHDGHGXUDW
PD[&
7HPSHUDWXUDFRQGXFWRUXOXL
vQUHJLPGHVFXUWFLUFXLW
PD[R&VHFXQGH
7HPSHUDWXUDPD[LPSHFRQGXFWRU R&RUHFRQVHFXWLYGDUQXPDLPXOWGH
vQFRQGLLLGHVXSUDVDUFLQ
RUHDQ
7HQVLXQHDGHvQFHUFDUH
FD+]WLPSGHPLQXWH
1LYHOXOGHVFUFULORUSDULDOH
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
PD[S&
T D * 1 30 & # T B
# J T US JB
T US % S V N V M $F U J J O S
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
C6'MH;N
$BCMVSJEFFOFSHJFEFNFEJFUFOTJVOF
DVJ[PMBJFEJOQPMJFUJMFOSFUJDVMBUJNBOUBEF
17$
DVQSPUFDJFMPOHJUVEJOBMNQPUSJWBQUSVOEFSJJBQFJ
QFOUSVUFOTJVOJOPNJOBMF66
L7
1XPU
FRQGXFWRDUH
[VHFLXQH
QRPLQDO
PP
*URVLPH *URVLPH
QRPLQDO QRPLQDO
L]RODLH PDQWD
PP
PP
'LDPHWUX
H[WHULRU
PLQ
PD[
PP
0DV
0DV
HFUDQ
DOXPLQLX
FXSUX
0DV
FDEOX
LQI
NJNP
NJNP
NJNP
C6'MH;N+$&%`K
&RQVWUXFLH
&RQGXFWRUGHDOXPLQLXFRPSDFWL]DWFODVDFRQIRUP65&(,
6WUDWVHPLFRQGXFWRULQWHULRU
,]RODLHGLQSROLHWLOHQUHWLFXODW
6WUDWVHPLFRQGXFWRUH[WHULRU
%DQGVHPLFRQGXFWRDUHJRQDELO
(FUDQGLQVkUPGHFXSUX
%DQGGHFXSUX
%DQGJRQDELO
0DQWDGH39&
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
$
%
&
'
(
C6'MH;N&'$'%`K
[UPF
[UPF
'RPHQLXGHXWLOL]DUH
[UPF
&DEOXULOHVXQWGHVWLQDWHSHQWUXGLVWULEXLDHQHUJLHLHOHFWULFHvQLQVWDODLL[H
vQLQWHULRUH[WHULRULvQJURSDW
[UPF
[UPF
'DWHWHKQLFH
[UPF
[UPF
[UPF
[UPF
[UPF
,
-
6WDQGDUGGHUHIHULQ
65&(,
6),352(%SHQWUXN9
6WDQGDUGGHSURGXV
6),352(%SHQWUXN9
6),352(%SHQWUXN9
7HQVLXQHDQRPLQDO
C6'MH;N&-$(%`K
88 N9
88 N9
88 N9
N9SHQWUXWHQVLXQHDQRPLQDON9
7HQVLXQHDPD[LP
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
7HPSHUDWXUDPLQLPDFDEOXOXL
ODPRQWDM
R&PVXUDWSHPDQWD
7HPSHUDWXUDFRQGXFWRUXOXL
vQIXQFLRQDUHDGHGXUDW
PD[&
7HPSHUDWXUDFRQGXFWRUXOXL
vQUHJLPGHVFXUWFLUFXLW
PD[R&VHFXQGH
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
7HPSHUDWXUDPD[LPSHFRQGXFWRU R&RUHFRQVHFXWLYGDUQXPDLPXOWGH
vQFRQGLLLGHVXSUDVDUFLQ
RUHDQ
7HQVLXQHDGHvQFHUFDUH
FD+]WLPSGHPLQXWH
1LYHOXOGHVFUFULORUSDULDOH
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
PD[S&
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
)
*
+
.
/
0
C6'MH;'N
$BCMVSJEFFOFSHJFEFNFEJFUFOTJVOF
DVJ[PMBJFEJOQPMJFUJMFOSFUJDVMBUJNBOUBEF
QPMJFUJMFOUFSNPQMBTUJD
DVQSPUFDJFMPOHJUVEJOBMNQPUSJWBQUSVOEFSJJBQFJ
QFOUSV
UFOTJVOJOPNJOBMF66L7
1XPU
FRQGXFWRDUH
[VHFLXQH
QRPLQDO
PP
'
(
)
*
+
,
.
/
0
PP
PP
'LDPHWUX
H[WHULRU
PLQ
PD[
PP
0DV
0DV
HFUDQ
DOXPLQLX
FXSUX
0DV
FDEOX
LQI
NJNP
NJNP
NJNP
C6'MH;'N+$&%`K
&
*URVLPH *URVLPH
QRP
QRP
L]RODLH PDQWD
&RQVWUXFLH
&RQGXFWRUGHDOXPLQLXFRPSDFWL]DWFODVDFRQIRUP65&(,
6WUDWVHPLFRQGXFWRULQWHULRU
,]RODLHGLQSROLHWLOHQUHWLFXODW
6WUDWVHPLFRQGXFWRUH[WHULRU
%DQGVHPLFRQGXFWRDUHJRQDELO
(FUDQGLQVkUPGHFXSUX
%DQGGLQFXSUX
%DQGJRQDELO
0DQWDGH3(
&DEOXULOHVXQWGHVWLQDWHSHQWUXGLVWULEXLDHQHUJLHLHOHFWULFHvQLQVWDODLL[HvQ
LQWHULRUH[WHULRULvQJURSDW&DEOXULOHFXPDQWDGLQSROLHWLOHQVXQWIUvQWkU]LHUHOD
SURSDJDUHDFULL
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
6),352(%SHQWUXN9
[UPF
6),352(%SHQWUXN9
[UPF
[UPF
65&(,
C6'MH;'N&-$(%`K
88 N9
88 N9
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
7HPSHUDWXUDPLQLPDFDEOXOXL
ODPRQWDM
7HPSHUDWXUDFRQGXFWRUXOXL
vQIXQFLRQDUHDGHGXUDW
PD[&
7HPSHUDWXUDFRQGXFWRUXOXL
vQUHJLPGHVFXUWFLUFXLW
PD[R&VHFXQGH
7HPSHUDWXUDPD[LPSHFRQGXFWRU R&RUHFRQVHFXWLYGDUQXPDLPXOWGH
vQFRQGLLLGHVXSUDVDUFLQ
RUHDQ
1LYHOXOGHVFUFULORUSDULDOH
N9SHQWUXWHQVLXQHDQRPLQDON9
7HQVLXQHDGHvQFHUFDUH
FD+]WLPSGHPLQXWH
88 N9
7HQVLXQHDPD[LP
[UPF
6),352(%SHQWUXN9
7HQVLXQHDQRPLQDO
[UPF
'DWHWHKQLFH
6WDQGDUGGHSURGXV
[UPF
C6'MH;'N&'$'%`K
'RPHQLXGHXWLOL]DUH
6WDQGDUGGHUHIHULQ
[UPF
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
PD[S&
T D * 1 30 & # T B
# J T US JB
T US % S V N V M $F U J J O S
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
C6'MH;A'N
$BCMVSJEFFOFSHJFEFNFEJFUFOTJVOF
DVJ[PMBJFEJOQPMJFUJMFOSFUJDVMBUJNBOUBEF
QPMJFUJMFOUFSNPQMBTUJD
DVQSPUFDJFMPOHJUVEJOBMJUSBOTWFSTBMNQPUSJWBQUSVOEFSJJ
BQFJ
QFOUSVUFOTJVOJOPNJOBMF66L7
1XPU
FRQGXFWRDUH
[VHFLXQH
QRPLQDO
PP
*URVLPH *URVLPH
QRP
QRP
L]RODLH PDQWD
PP
PP
'LDPHWUX
H[WHULRU
PLQ
PD[
PP
0DV
0DV
HFUDQ
DOXPLQLX
FXSUX
0DV
FDEOX
LQI
NJNP
NJNP
NJNP
C6'MH;A'N+$&%`K
&RQVWUXFLH
&RQGXFWRUGHDOXPLQLXFRPSDFWL]DWFODVDFRQIRUP65&(,
6WUDWVHPLFRQGXFWRULQWHULRU
,]RODLHGLQSROLHWLOHQUHWLFXODW
6WUDWVHPLFRQGXFWRUH[WHULRU
%DQGVHPLFRQGXFWRDUHJRQDELO
(FUDQGLQVkUPGHFXSUX
%DQGGLQFXSUX
%DQGVHPLFRQGXFWRDUHJRQDELO
)ROLHGLQDOXPLQLXFXFRSROLPHU
0DQWDGH3(
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
%
&
'
(
C6'MH;A'N&'$'%`K
'RPHQLXGHXWLOL]DUH
[UPF
[UPF
[UPF
&DEOXULOHVXQWGHVWLQDWHSHQWUXGLVWULEXLDHQHUJLHLHOHFWULFHvQLQVWDODLL[HvQ
LQWHULRUH[WHULRULvQJURSDW&DEOXULOHFXPDQWDGLQSROLHWLOHQVXQWIUvQWkU]LHUHOD
SURSDJDUHDFULL
[UPF
[UPF
'DWHWHKQLFH
[UPF
[UPF
[UPF
[UPF
[UPF
,
-
6WDQGDUGGHUHIHULQ
65&(,
6),352(%SHQWUXN9
6WDQGDUGGHSURGXV
6),352(%SHQWUXN9
6),352(%SHQWUXN9
7HQVLXQHDQRPLQDO
C6'MH;A'N&-$(%`K
88 N9
88 N9
88 N9
N9SHQWUXWHQVLXQHDQRPLQDON9
7HQVLXQHDPD[LP
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
7HPSHUDWXUDPLQLPDFDEOXOXL
ODPRQWDM
R&PVXUDWSHPDQWD
7HPSHUDWXUDFRQGXFWRUXOXL
vQIXQFLRQDUHDGHGXUDW
PD[&
7HPSHUDWXUDFRQGXFWRUXOXL
vQUHJLPGHVFXUWFLUFXLW
PD[R&VHFXQGH
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
7HPSHUDWXUDPD[LPSHFRQGXFWRU R&RUHFRQVHFXWLYGDUQXPDLPXOWGH
vQFRQGLLLGHVXSUDVDUFLQ
RUHDQ
7HQVLXQHDGHvQFHUFDUH
FD+]WLPSGHPLQXWH
1LYHOXOGHVFUFULORUSDULDOH
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
PD[S&
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
*
+
.
/
0
C'MHN
$BCMVSJEFFOFSHJFEFNFEJFUFOTJVOF
DVJ[PMBJFEJOQPMJFUJMFOSFUJDVMBUJNBOUBEF
17$
QFOUSVUFOTJVOJOPNJOBMF66L7
'
(
)
*
+
,
.
/
0
*URVLPH
QRP
L]RODLH
*URVLPH
QRP
PDQWD
PP
PP
PP
[UPF
[UPF
[UPF
'LDPHWUX
H[WHULRU
0DV
FXSUX
0DV
FDEOX
LQI
PP
NJNP
NJNP
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
PLQ PD[
C'MHN+$&%`K
&
1XPU
FRQGXFWRDUH
[VHFLXQH
QRPLQDO
&RQVWUXFLH
&RQGXFWRUGHFXSUXFRPSDFWL]DWFODVDFRQIRUP65&(,
6WUDWVHPLFRQGXFWRULQWHULRU
,]RODLHGLQSROLHWLOHQUHWLFXODW
6WUDWVHPLFRQGXFWRUH[WHULRU
%DQGVHPLFRQGXFWRDUHRSLRQDO
(FUDQGLQVkUPGHFXSUX
%DQGGLQFXSUX
6WUDWVHSDUDWRU
0DQWDGH39&
C'MHN&'$'%`K
'RPHQLXGHXWLOL]DUH
&DEOXULOHVXQWGHVWLQDWHSHQWUXGLVWULEXLDHQHUJLHLHOHFWULFHvQLQVWDODLL[HvQ
LQWHULRUH[WHULRULvQJURSDW
'DWHWHKQLFH
6WDQGDUGGHUHIHULQ
65&(,
C'MHN&-$(%`K
6),352(%SHQWUXN9
6WDQGDUGGHSURGXV
6),352(%SHQWUXN9
6),352(%SHQWUXN9
7HQVLXQHDQRPLQDO
88 N9
88 N9
88 N9
N9SHQWUXWHQVLXQHDQRPLQDON9
7HQVLXQHDPD[LP
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
7HPSHUDWXUDPLQLPDFDEOXOXL
ODPRQWDM
R&PVXUDWSHPDQWD
7HPSHUDWXUDFRQGXFWRUXOXL
vQIXQFLRQDUHDGHGXUDW
PD[&
7HPSHUDWXUDFRQGXFWRUXOXL
vQUHJLPGHVFXUWFLUFXLW
PD[R&VHFXQGH
7HPSHUDWXUDPD[LPSHFRQGXFWRU R&RUHFRQVHFXWLYGDUQXPDLPXOWGH
vQFRQGLLLGHVXSUDVDUFLQ
RUHDQ
7HQVLXQHDGHvQFHUFDUH
FD+]WLPSGHPLQXWH
1LYHOXOGHVFUFULORUSDULDOH
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
PD[S&
T D * 1 30 & # T B
# J T US JB
T US % S V N V M $F U J J O S
C'MH'N
$BCMVSJEFFOFSHJFEFNFEJFUFOTJVOF
DVJ[PMBJFEJOQPMJFUJMFOSFUJDVMBUJNBOUBEF
QPMJFUJMFOUFSNPQMBTUJD
QFOUSVUFOTJVOJOPNJOBMF66L7
1XPU
FRQGXFWRDUH
[VHFLXQH
QRPLQDO
*URVLPH
QRP
L]RODLH
*URVLPH
QRP
PDQWD
PP
PP
PP
'LDPHWUX
H[WHULRU
PLQ PD[
PP
0DV
&XSUX
0DV
FDEOX
LQI
NJNP
NJNP
C'MH'N+$&%`K
&RQVWUXFLH
&RQGXFWRUGHFXSUXFRPSDFWL]DWFODVDFRQIRUP65&(,
6WUDWVHPLFRQGXFWRULQWHULRU
,]RODLHGHSROLHWLOHQUHWLFXODW
6WUDWVHPLFRQGXFWRUH[WHULRU
%DQGVHPLFRQGXFWRDUHRSLRQDO
(FUDQGLQVkUPGHFXSUX
%DQGGHFXSUX
6WUDWVHSDUDWRU
0DQWDGH3(
&DEOXULOHVXQWGHVWLQDWHSHQWUXGLVWULEXLDHQHUJLHLHOHFWULFHvQLQVWDODLL[HvQ
LQWHULRUH[WHULRULvQJURSDW&DEOXULOHFXPDQWDGLQSROLHWLOHQVXQWIUvQWkU]LHUHOD
SURSDJDUHDFULL
'DWHWHKQLFH
6WDQGDUGGHSURGXV
7HQVLXQHDPD[LP
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
65&(,
C'MH'N&-$(%`K
6),352(%SHQWUXN9
[UPF
6),352(%SHQWUXN9
[UPF
[UPF
88 N9
88 N9
6),352(%SHQWUXN9
7HQVLXQHDQRPLQDO
[UPF
C'MH'N&'$'%`K
'RPHQLXGHXWLOL]DUH
6WDQGDUGGHUHIHULQ
[UPF
[UPF
88 N9
[UPF
[UPF
N9SHQWUXWHQVLXQHDQRPLQDON9
[UPF
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
7HPSHUDWXUDPLQLPDFDEOXOXL
ODPRQWDM
R&PVXUDWSHPDQWD
7HPSHUDWXUDFRQGXFWRUXOXL
vQIXQFLRQDUHDGHGXUDW
PD[&
7HPSHUDWXUDFRQGXFWRUXOXL
vQUHJLPGHVFXUWFLUFXLW
PD[R&VHFXQGH
1LYHOXOGHVFUFULORUSDULDOH
%
&
'
(
)
*
+
,
.
/
0
7HPSHUDWXUDPD[LPSHFRQGXFWRU R&RUHFRQVHFXWLYGDUQXPDLPXOWGH
vQFRQGLLLGHVXSUDVDUFLQ
RUHDQ
7HQVLXQHDGHvQFHUFDUH
FD+]WLPSGHPLQXWH
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
PD[S&
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
C'MH;N
$BCMVSJEFFOFSHJFEFNFEJFUFOTJVOF
DVJ[PMBJFEJOQPMJFUJMFOSFUJDVMBUJNBOUBEF
17$
DVQSPUFDJFMPOHJUVEJOBMNQPUSJWBQUSVOEFSJJBQFJ
QFOUSVUFOTJVOJOPNJOBMF66
L7
'
(
)
*
+
,
.
/
0
*URVLPH
QRP
L]RODLH
*URVLPH
QRP
PDQWD
PP
PP
PP
'LDPHWUX
H[WHULRU
0DV
FXSUX
0DV
FDEOX
LQI
PP
NJNP
NJNP
PLQ PD[
C'MH;N+$&%`K
&
1XPU
FRQGXFWRDUH
[VHFLXQH
QRPLQDO
&RQVWUXFLH
&RQGXFWRUGHFXSUXFRPSDFWL]DWFODVDFRQIRUP65&(,
6WUDWVHPLFRQGXFWRULQWHULRU
,]RODLHGLQSROLHWLOHQUHWLFXODW
6WUDWVHPLFRQGXFWRUH[WHULRU
%DQGVHPLFRQGXFWRDUHJRQDELO
(FUDQGLQVkUPGHFXSUX
%DQGGLQFXSUX
%DQGJRQDELO
0DQWDGH39&
&DEOXULOHVXQWGHVWLQDWHSHQWUXGLVWULEXLDHQHUJLHLHOHFWULFHvQLQVWDODLL[HvQLQWHULRU
H[WHULRULvQJURSDW
'DWHWHKQLFH
65&(,
6),352(%SHQWUXN9
6),352(%SHQWUXN9
7HQVLXQHDQRPLQDO
88 N9
88 N9
88 N9
N9SHQWUXWHQVLXQHDQRPLQDON9
7HQVLXQHDPD[LP
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
7HPSHUDWXUDPLQLPDFDEOXOXL
ODPRQWDM
R&PVXUDWSHPDQWD
7HPSHUDWXUDFRQGXFWRUXOXL
vQIXQFLRQDUHDGHGXUDW
PD[&
7HPSHUDWXUDFRQGXFWRUXOXL
vQUHJLPGHVFXUWFLUFXLW
PD[R&VHFXQGH
7HPSHUDWXUDPD[LPSHFRQGXFWRU R&RUHFRQVHFXWLYGDUQXPDLPXOWGH
vQFRQGLLLGHVXSUDVDUFLQ
RUHDQ
7HQVLXQHDGHvQFHUFDUH
FD+]WLPSGHPLQXWH
1LYHOXOGHVFUFULORUSDULDOH
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
PD[S&
T D * 1 30 & # T B
# J T US JB
T US % S V N V M $F U J J O S
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
C'MH;N&-$(%`K
6),352(%SHQWUXN9
6WDQGDUGGHSURGXV
[UPF
C'MH;N&'$'%`K
'RPHQLXGHXWLOL]DUH
6WDQGDUGGHUHIHULQ
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
C'MH;'N
$BCMVSJEFFOFSHJFEFNFEJFUFOTJVOF
DVJ[PMBJFEJOQPMJFUJMFOSFUJDVMBUJNBOUBEF
QPMJFUJMFOUFSNPQMBTUJD
DVQSPUFDJFMPOHJUVEJOBMNQPUSJWBQUSVOEFSJJBQFJ
QFOUSV
UFOTJVOJOPNJOBMF66L7
1XPU
FRQGXFWRDUH
[VHFLXQH
QRPLQDO
*URVLPH
QRP
L]RODLH
*URVLPH
QRP
PDQWD
PP
PP
PP
'LDPHWUX
H[WHULRU
0DV
&XSUX
0DV
FDEOX
LQI
PP
NJNP
NJNP
PLQ PD[
C'MH;'N+$&%`K
&RQVWUXFLH
&RQGXFWRUGHFXSUXFRPSDFWL]DWFODVDFRQIRUP65&(,
6WUDWVHPLFRQGXFWRULQWHULRU
,]RODLHGLQSROLHWLOHQUHWLFXODW
6WUDWVHPLFRQGXFWRUH[WHULRU
%DQGVHPLFRQGXFWRDUHJRQDELO
(FUDQGLQVkUPGHFXSUX
%DQGGLQFXSUX
%DQGJRQDELO
0DQWDGH3(
&DEOXULOHVXQWGHVWLQDWHSHQWUXGLVWULEXLDHQHUJLHLHOHFWULFHvQLQVWDODLL[HvQ
LQWHULRUH[WHULRULvQJURSDW&DEOXULOHFXPDQWDGLQSROLHWLOHQVXQWIUvQWkU]LHUHOD
SURSDJDUHDFULL
'DWHWHKQLFH
65&(,
6),352(%SHQWUXN9
6),352(%SHQWUXN9
7HQVLXQHDQRPLQDO
88 N9
88 N9
88 N9
N9SHQWUXWHQVLXQHDQRPLQDON9
7HQVLXQHDPD[LP
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
C'MH;'N&-$(%`K
6),352(%SHQWUXN9
6WDQGDUGGHSURGXV
[UPF
C'MH;'N&'$'%`K
'RPHQLXGHXWLOL]DUH
6WDQGDUGGHUHIHULQ
[UPF
N9SHQWUXWHQVLXQHDQRPLQDON9
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
N9SHQWUXWHQVLXQHDQRPLQDON9
7HPSHUDWXUDPLQLPDFDEOXOXL
ODPRQWDM
R&PVXUDWSHPDQWD
7HPSHUDWXUDFRQGXFWRUXOXL
vQIXQFLRQDUHDGHGXUDW
PD[&
7HPSHUDWXUDFRQGXFWRUXOXL
vQUHJLPGHVFXUWFLUFXLW
PD[R&VHFXQGH
1LYHOXOGHVFUFULORUSDULDOH
%
&
'
(
)
*
+
,
.
/
0
7HPSHUDWXUDPD[LPSHFRQGXFWRU R&RUHFRQVHFXWLYGDUQXPDLPXOWGH
vQFRQGLLLGHVXSUDVDUFLQ
RUHDQ
7HQVLXQHDGHvQFHUFDUH
FD+]WLPSGHPLQXWH
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
PD[S&
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS
C'MH;A'N
$BCMVSJEFFOFSHJFEFNFEJFUFOTJVOF
DVJ[PMBJFEJOQPMJFUJMFOSFUJDVMBUJNBOUBEF
QPMJFUJMFOUFSNPQMBTUJD
DVQSPUFDJFMPOHJUVEJOBMJUSBOTWFSTBMNQPUSJWBQUSVOEFSJJ
BQFJ
QFOUSVUFOTJVOJOPNJOBMF66L7
'
(
)
*
+
,
.
/
0
*URVLPH
QRP
L]RODLH
*URVLPH
QRP
PDQWD
PP
PP
PP
'LDPHWUX
H[WHULRU
0DV
FXSUX
0DV
FDEOX
LQI
PP
NJNP
NJNP
PLQ PD[
C'MH;A'N+$&%`K
&
1XPU
FRQGXFWRDUH
[VHFLXQH
QRPLQDO
&RQVWUXFLH
&RQGXFWRUGHFXSUXFRPSDFWL]DWFODVDFRQIRUP65&(,
6WUDWVHPLFRQGXFWRULQWHULRU
,]RODLHGLQSROLHWLOHQUHWLFXODW
6WUDWVHPLFRQGXFWRUH[WHULRU
%DQGVHPLFRQGXFWRDUHJRQDELO
(FUDQGLQVkUPGHFXSUX
%DQGGLQFXSUX
%DQGVHPLFRQGXFWRDUHJRQDELO
)ROLHGLQDOXPLQLXFXFRSROLPHU
0DQWDGH3(
&DEOXULOHVXQWGHVWLQDWHSHQWUXGLVWULEXLDHQHUJLHLHOHFWULFHvQLQVWDODLL[HvQ
LQWHULRUH[WHULRULvQJURSDW&DEOXULOHFXPDQWDGLQSROLHWLOHQVXQWIUvQWkU]LHUHOD
SURSDJDUHDFULL
'DWHWHKQLFH
65&(,
6),352(%SHQWUXN9
6),352(%SHQWUXN9
7HQVLXQHDQRPLQDO
88 N9
88 N9
88 N9
N9SHQWUXWHQVLXQHDQRPLQDON9
7HQVLXQHDPD[LP
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
7HPSHUDWXUDPLQLPDFDEOXOXL
ODPRQWDM
R&PVXUDWSHPDQWD
7HPSHUDWXUDFRQGXFWRUXOXL
vQIXQFLRQDUHDGHGXUDW
PD[&
7HPSHUDWXUDFRQGXFWRUXOXL
vQUHJLPGHVFXUWFLUFXLW
PD[R&VHFXQGH
7HPSHUDWXUDPD[LPSHFRQGXFWRU R&RUHFRQVHFXWLYGDUQXPDLPXOWGH
vQFRQGLLLGHVXSUDVDUFLQ
RUHDQ
7HQVLXQHDGHvQFHUFDUH
FD+]WLPSGHPLQXWH
1LYHOXOGHVFUFULORUSDULDOH
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
N9SHQWUXWHQVLXQHDQRPLQDON9
PD[S&
T D * 1 30 & # T B
# J T US JB
T US % S V N V M $F U J J O S
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
C'MH;A'N&-$(%`K
6),352(%SHQWUXN9
6WDQGDUGGHSURGXV
[UPF
C'MH;A'N&'$'%`K
'RPHQLXGHXWLOL]DUH
6WDQGDUGGHUHIHULQ
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
C'MH= C6'MH=
$BCMVSJEFFOFSHJFEFNFEJFUFOTJVOF
DVJ[PMBJFEJOQPMJFUJMFOSFUJDVMBUJNBOUBEF
QPMJFUJMFOUFSNPQMBTUJDGSIBMPHFOJ
DVFNJTJFSFEVTEFGVNJHB[FDPSP[JWF -4')
QFOUSVUFOTJVOJOPNJOBMF66L7
C'MH=
&RQVWUXFLH
&RQGXFWRUGHFXSUXVDXDOXPLQLXFRPSDFWL]DWFODVDFRQIRUP65&(,
(FUDQLQWHULRUVHPLFRQGXFWRU
,]RODLH;/3(
(FUDQH[WHULRUVHPLFRQGXFWRU
%DQGVHPLFRQGXFWRDUHRSLRQDO
(FUDQGLQVkUPGHFXSUX
%DQGGHFXSUX
0DQWDGHSROLHWLOHQWHUPRSODVWLFFXHPLVLHUHGXVGHIXP
LJD]HFRURVLYHWLS+0
6),352(%
7HQVLXQHDQRPLQDO
N9SHQWUXWHQVLXQHDQRPLQDON9
7HPSHUDWXUDPLQLPDFDEOXOXL
PVXUDWSHPDQWD
ODPRQWDMR&
7HPSHUDWXUDFRQGXFWRUXOXL
vQIXQFLRQDUHDGHGXUDW
7HPSHUDWXUDFRQGXFWRUXOXL
vQUHJLPGHVFXUWFLUFXLW
7HPSHUDWXUDPD[LPSHFRQGXFWRU
vQFRQGLLLGHVXSUDVDUFLQ
7HQVLXQHDGHvQFHUFDUH
FD+]WLPSGHPLQXWH
5D]DPLQLPGHFXUEXUODPRQWDM
1LYHOXOGHVFUFULORUSDULDOH
PP
PP
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
PP
88 N9
7HQVLXQHDPD[LP
PP
1XPU
FRQGXFWRDUH
[VHFLXQH
QRPLQDO
'DWHWHKQLFH
6WDQGDUGGHSURGXV
*URVLPH
QRPLQDO
PDQWD
'LDPHWUX
H[WHULRU
0DV
FXSUX
0DV
FDEOX
LQI
NJNP
NJNP
PLQ PD[
PP
C6'MH=
&DEOXULOHVXQWGHVWLQDWHSHQWUXGLVWULEXLDHQHUJLHLHOHFWULFHvQLQVWDODLL[H
&DEOXULOHVXQWGHVWLQDWHSR]ULLvQWXEXULLFRQGXFWHSHUDVWHOHGHFDEOXULLQXSRW
PRQWDWHGLUHFWvQSPkQWVDXvQDS
/DDUGHUHFDEOXULOHQXGHJDMJD]HWR[LFHLFRURVLYHLDXHPLVLHUHGXVGHIXP
&DEOXULOHQXVXQWGHVWLQDWHVIXQFLRQH]HvQPHGLLVSHFLDOHH[SOR]LYVDXvQ&1(
SDUWHDUHDFWRUXOXL
65+'
*URVLPH
QRPLQDO
L]RODLH
$
%
&
'
'RPHQLXGHXWLOL]DUH
6WDQGDUGGHUHIHULQ
1XPU
FRQGXFWRDUH
[VHFLXQH
QRPLQDO
vQFRQGLLLGHWUDQVSRUWLGHSR]LWDUHR&
PD[&
0DV
FDEOX
LQI
PP
PP
NJNP
NJNP
NJNP
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
[UPF
PP
0DV
HFUDQ
FXSUX
PD[R&VHFXQGH
(
)
*
+
,
.
R&RUHFRQVHFXWLYGDUQXPDLPXOWGH
RUHDQ
N9
[GLDPHWUXOFDEOXOXL
PD[S&
&RPSRUWDPHQWXOODDUGHUH&DEOXULOHVXQWFXvQWkU]LHUHPULWODSURSDJDUHD
FULLFRQIRUP65(1FDWHJRULD&
&RURVLYLWDWHDJD]HORUGHJDMDWHODDUGHUHFRQIRUP65(1
S+t
FRQGXFWLYLWDWHDdP6FP
'HQVLWDWHDIXPXOXLFRQIRUP65(1
SHUPHDELOLWDWHDOXPLQLLt
T D * 1 30 & # T B
# JT U S J B
T U S % S VN VM $F UJJ OS