www.medigraphic.org.

mx

4GXKUVC/GZKECPCFG1TVQFQPEKC
8QN0ÕO 'PGTQ/CT\Q
RR %#51%. 0+%1

6TCVCOKGPVQQTVQFÎPEKEQEQORGPUCVQTKQRCTCWPRCEKGPVGCWVKUVC
ENCUG++EQPOQTFKFCCDKGTVCCPVGTKQT%CUQENÈPKEQ
%COQWƀCIGQTVJQFQPVKEVTGCVOGPVKPCPCWVKUVKE
ENCUU++RCVKGPVYKVJCPVGTKQTQRGPDKVG%CUGTGRQTV
5KNXCPPC/CTÈC.KPCTGU6QNGFQ4QDGTVQ4WK\&ÈC\h'KNGGP7TKDG3WGTQN{

4'57/'0 #$564#%6

'NRTGUGPVGECUQENÈPKEQEQTTGURQPFGCNVTCVCOKGPVQQTVQFÎPEKEQEQO
RGPUCVQTKQFGWPRCEKGPVGXCTÎPFGCÌQUEQPCWVKUOQ'NRCEKGPVG
OQUVTCDCENCUG++UQDTGOQTFKFCJQTK\QPVCNCWOGPVCFCETGEKOKGPVQ
XGTVKECN[OQTFKFCCDKGTVCCPVGTKQT6CODKÃPRTGUGPVCDCJ¶DKVQFGNGP
IWC7PVTCVCOKGPVQQTVQFÎPEKEQSWKTÕTIKEQGTCKFGCNRCTCGUVGECUQ
5KPGODCTIQFCFCUWEQPFKEKÎPPGWTQNÎIKECUGTGCNK\ÎWPVTCVCOKGP
VQQTVQFÎPEKEQEQORGPUCVQTKQ'NVTCVCOKGPVQKPENW[ÎFKXGTUQUCRCTC
VQUGPVTGGNNQU*[TCZCTEQGZVTCQTCNFGVTCEEKÎPCNVCFQDNGUDCTTCU
RCNCVKPCUEQPDQVÎPFGCETÈNKEQ[GN¶UVKEQU&GURWÃUFGVTGUCÌQUFG
VTCVCOKGPVQUGEQPUKIWKÎQDVGPGTECTCEVGTÈUVKECUCRTQZKOCFCUCENCUG
+EKGTTGFGNCOQTFKFCCDKGTVC[EQPVTQNFGNETGEKOKGPVQXGTVKECN'NJ¶DK
VQFGNGPIWCHWGEQPVTQNCFQOGFKCPVGWPCTGVGPEKÎPEQPWPCTEQEKTEWP
HGTGPEKCNEQPVTCORCNKPIWCN'NVTCVCOKGPVQQTVQFÎPEKEQFGECOWƀCLG
HWGGZKVQUQITCEKCUCNCFGEWCFQOCPGLQFGVÃEPKECUFGNCEQPFWEVC
RCTCGNEQPVTQNFGNRCEKGPVGCWVKUVC
#PQTVJQFQPVKEECUGTGRQTVKURTGUGPVGF6JGRCVKGPVYCUC[GCT
QNFCWVKUVKEOCNGYKVJENCUU++CWIOGPVGFQXGTLGVXGTVKECNITQYVJCPF
CPVGTKQTQRGPDKVG*GCNUQGZJKDKVGFVQPIWGVJTWUVJCDKV#UWTIKECN
VTGCVOGPVYCUKFGCNHQTVJKUECUGDWVDGECWUGQHJKUPGWTQNQIKECN
RTQDNGOKVYCUFGEKFGFVQWUGCPCNVGTPCVKXGQTVJQFQPVKEVTGCVOGPV
6JGQTVJQFQPVKEVTGCVOGPVKPENWFGF*[TCZJKIJRWNNJGCFIGCT
FQWDNGVTCPURCNCVCNDCTYKVJCET[NKEDWVVQPCPFGNCUVKEU#HVGTCVJTGG
[GCTVTGCVOGPVENCUU+CRRTQZKOCVKQPYCUQDVCKPGFQRGPDKVGYCU
EQTTGEVGFCPFXGTVKECNITQYVJYCUEQPVTQNNGF6JGRCVKGPVŏUVQPIWG
VJTWUVJCDKVYCUEQPVTQNNGFWUKPICYTCRCTQWPFTGVCKPGTYKVJVQPIWG
EQTTGEVQT6JKUTGVCKPGTYCURNCEGFQPVJGOCZKNNCT[CTEJCPFQP
VJGNQYGTCNKPIWCNDQPFGFTGVCKPGTYCUWUGF6JGECOQWHNCIG
QTVJQFQPVKEVTGCVOGPVYCUUWEEGUUHWNDGECWUGIQQFDGJCXKQTCN
VGEJPKSWGUHQTCWVKUORCVKGPVUYGTGWUGF

2CNCDTCUENCXG#TEQGZVTCQTCN*[TCZFQDNGUDCTTCURCNCVKPCUVTCORCNKPIWCNJ¶DKVQFGNGPIWCTGURKTCFQTQTCNETGEKOKGPVQXGTVKECNCWVKUOQ
-G[YQTFU*KIJRWNNJGCFIGCT*[TCZFQWDNGVTCPURCNCVCNDCTVQPIWGVJTWUVJCDKVNKPIWCNVTCRQTCNDTGCVJGTXGTVKECNITQYVJCWVKUO

#DTGXKCVWTCU WPRWPVQFGXKUVCFGPVQGUSWGNGVCNUGENCUKſECPGPUC
   PIWNQSWGOKFGNCKPENKPCEKÎPFGNQUKPEKUKXQURQTNC
IKVCNXGTVKECN[VTCPUXGTUCNFGRGPFKGPFQFGNQURNC
   KPVGTUGEEKÎPFGNQUGLGUNQPIKVWFKPCNGUFGNKPEKUKXQUWRGTKQT
   EQPGNKPEKUKXQKPHGTKQT PQUGURCEKCNGUSWGKPXQNWETGP'PGNRNCPQUCIKVCNUG
 50 PIWNQSWGUGOKFGRQTNCWPKÎPFGNGLGNQPIKVWFKPCNFGN UWDENCUKſECPGPENCUGU+++[+++GPGNRNCPQXGTVKECN
   KPEKUKXQUWRGTKQTEQPNCNÈPGCHQTOCFCRQTNQURWPVQU5KNNC GPOQTFKFCCDKGTVC[OQTFKFCRTQHWPFC[GPGNRNCPQ
   C0CUKQP
 #0$ PIWNQSWGUGOKFGGPNCWPKÎPFGNQURWPVQU#0CUKQP
VTCPUXGTUCNGPOQTFKFCETW\CFC[OQTFKFCVGNGUEÎRKEC
   [RWPVQ$ 'NRTGUGPVGECUQENÈPKEQEQTTGURQPFGCNVTCVCOKGPVQFG
)Q)P50 PIWNQSWGUGOKFGRQTNCWPKÎPFGNQURWPVQU)QPKQPC WPRCEKGPVGCWVKUVCEQPOCNQENWUKÎPENCUG++FKXKUKÎP+
 )PCVKQPEQP5KNNC[0CUKQP EQPOQTFKFCCDKGTVCCPVGTKQT
 +/2# PIWNQSWGUGOKFGFGNCWPKÎPFGNQURWPVQU)QPKQPC
  )PCVKQPEQPGNGLGNQPIKVWFKPCNFGNKPEKUKXQKPHGTKQT



 [RWPVQ# YYYOGFKITCRJKEQTIOZ
50# PIWNQSWGUGOKFGGPNCWPKÎPFGNQURWPVQU5KNNC0CUKQP

50$ PIWNQSWGUGOKFGGPNCWPKÎPFGNQURWPVQU5KNNC0CUKQP
   [RWPVQ$
 #NWOPCFGNC'URGEKCNKFCFFG1TVQFQPEKC
h
 2TQHGUQTFG#UKIPCVWTCFGNC'URGEKCNKFCFFG1TVQFQPEKC
+0641&7%%+¦0
{
 2TQHGUQTFG%CTTGTCFG6KGORQ%QORNGVQ0GWTQDKQNQIÈC[
&GUCTTQNNQ

/CNQENWUKÎP &KXKUKÎPFG'UVWFKQUFG2QUVITCFQG+PXGUVKICEKÎP
&'2G+(CEWNVCFFG
1FQPVQNQIÈC
(17PKXGTUKFCF0CEKQPCN#WVÎPQOCFG/ÃZKEQ
70#/

.COCNQENWUKÎPGUWPCCNVGTCEKÎPFGNHWPEKQPCOKGP 'UVGCTVÈEWNQRWGFGUGTEQPUWNVCFQGPXGTUKÎPEQORNGVCGP
VQFGNUKUVGOCOCUVKECVQTKQ.CUOCNQENWUKQPGUFGUFG JVVRYYYOGFKITCRJKEEQOQTVQFQPEKC

© 2015 Universidad Nacional Autónoma de México, Facultad de Odontología. Este es un artículo Open Access bajo la licencia CC BY-NC-ND
(http://creativecommons.org/licenses/by-nc-nd/4.0/).
 .KPCTGU65/[EQNU6TCVCOKGPVQQTVQFÎPEKEQEQORGPUCVQTKQRCTCWPRCEKGPVGCWVKUVCENCUG++EQPOQTFKFCCDKGTVCCPVGTKQT

.COCNQENWUKÎPENCUG++FKXKUKÎP+RTGUGPVCCNVGTC
EKQPGUCPKXGNGUSWGNÃVKEQVCNGUEQOQEQNCRUQOCZK
RWGFGPKTFGUFGWPCÌQJCUVC
NCTUWRGTKQTFGDKFQCNGUVTGEJCOKGPVQFGNCTGIKÎPFG
OQNCTGU[RTGOQNCTGUWP¶PIWNQ5KNNC0CUKQPRWPVQ
#
50#CWOGPVCFQQWP¶PIWNQ5KNNC0CUKQPRWPVQ
$
50$FKUOKPWKFQ[WP¶PIWNQ0CUKQPRWPVQ#[
RWPVQ$
#0$CWOGPVCFQRGTſNFGVGLKFQUDNCPFQU
EQPXGZQ¶PIWNQPCUQNCDKCNEGTTCFQRWGFGRTGUGPVCT
QDUVTWEEKÎPFGNCUXÈCUCÃTGCUUWRGTKQTGUETGEKOKGPVQ
JKRGTFKXGTIGPVG[VGTEKQKPHGTKQTCWOGPVCFQ
.COQTFKFCCDKGTVCGUNCCWUGPEKCNQECNK\CFCFGEQP
VCEVQGPVTGWPQQO¶UFKGPVGUFGNCCTECFCUWRGTKQTEQPVTC
WPQQO¶UFKGPVGUFGNCCTECFCKPHGTKQT.COQTFKFCCDKGT
VCRWGFGRTGUGPVCTUGCEWCNSWKGTGFCF[GPEWCNSWKGTTG
IKÎPFGNCDQECUKGPFQNCTGIKÎPCPVGTKQTNCO¶UHTGEWGPVG
.COQTFKFCCDKGTVCUGENCUKſECGPFQUNCOQTFKFCCDKGTVC
FGPVCNGPNCEWCNÕPKECOGPVGGUV¶PCHGEVCFQUNQUFKGPVGU
[NCOQTFKFCCDKGTVCGUSWGNÃVKECGPNCEWCN[CGZKUVGWPC
FGHQTOKFCFGPNCUCRÎſUKUCNXGQNCTGUSWGHTGEWGPVGOGPVG
XCCEQORCÌCFCFGECTCEVGTÈUVKECUFQNKEQHCEKCNGU.CGVKQ
NQIÈCFGNCOQTFKFCCDKGTVCGUOWNVKHCEVQTKCN(CEVQTGUNQEC
NGUEQOQJ¶DKVQUFGUWEEKÎPRGTUKUVGPVGFGINWEKÎPCVÈRKEC
[TGURKTCEKÎPQTCNCUÈEQOQHCEVQTGUIGPGTCNGUEQOQNC
JGTGPEKCFGHGEVQUEQPIÃPKVQU[CNVGTCEKQPGUOWUEWNCTGU
RTQOWGXGPNCOQTFKFCCDKGTVC
'NVTCVCOKGPVQFGNCOQTFKFCCDKGTVCEQORTGPFGVTGU
HCUGU.CRTKOGTCHCUGQRTGXGPVKXCSWGUGNQITCCVTC
XÃUFGCRCTCVQNQIÈCTGOQXKDNGQſLCNCUGIWPFCHCUG
QKPVGTEGRVKXCFQPFGRWGFGPUGTWVKNK\CFQUCRCTCVQU
EQOQGNCTEQGZVTCQTCNFGVTCEEKÎPCNVCCUÈEQOQNQU
OGPEKQPCFQUCPVGTKQTOGPVGGPGNVTCVCOKGPVQRTGXGP
VKXQ[ſPCNOGPVGNCVGTEGTCHCUGQEQTTGEVKXCFQPFGUG
GORNGCCRCTCVQNQIÈCQTVQFÎPEKECſLCWUQFGGN¶UVKEQU
KPVTWUKÎPFGOQNCTGUQKPENWUQWPVTCVCOKGPVQEQODK
PCFQFGQTVQFQPEKCEQPEKTWIÈC
#WVKUOQ
'N CWVKUOQ GU WP VTCUVQTPQ FGN FGUCTTQNNQ SWG
CHGEVCNCKPVGTCEEKÎPUQEKCNGNNGPIWCLGGNEQORQT
VCOKGPVQ[NCUHWPEKQPGUEQIPKVKXCUFGNKPFKXKFWQSWG
(KIWTC
#
YYYOGFKITCRJKEQTIOZ
$ %
#&NC
#[%[NCGZRQUKEKÎPFGN
$
NQRQUGG&CFQSWGGNVKGORQFGWPVTCVCOKGPVQQT
VQFÎPEKEQGUXCTKCDNG
XCTKQUCÌQU[TKIWTQUQUGPGEGUKVCWPVTCVQGURGEKCN
RCTCNQURCEKGPVGUEQPCWVKUOQ#FGO¶UGUKPFKU
RGPUCDNGNCEQNCDQTCEKÎPFGNQURCFTGURCTCSWGGN
VTCVCOKGPVQQTVQFÎPEKEQEQPENW[CHCXQTCDNGOGPVG
.QURCEKGPVGUEQPCWVKUOQUQPRCEKGPVGUEQORNKEC
FQURQTNQSWGUGJCPFGUCTTQNNCFQVÃEPKECUFGNOC
PGLQFGNCEQPFWEVC
'PVTGGNNCUUGGPEWGPVTCNCFGUGPUKDKNK\CEKÎPUKUVG
O¶VKECSWGEQPUKUVGGPGPUGÌCTNGCNRCEKGPVGFGWP
OQFQXKUWCNVQFQUNQURCUQUFGNVTCVCOKGPVQSWGUGNG
TGCNK\CT¶PRGFKTNGSWGGUEWEJGNQUUQPKFQUFGNQUCRC
TCVQUSWGUGWVKNK\CT¶P[RGFKTNGSWGVQSWGUKGURQUK
DNGVQFQGNOCVGTKCNSWGUGNGKPVTQFWEKT¶GPNCDQEC
24'5'06#%+¦0&'.%#51
7PXCTÎPFGCÌQUFGGFCFUGRTGUGPVÎCN&GRCT
VCOGPVQFG1TVQFQPEKCFGNC&KXKUKÎPFG'UVWFKQUFG
2QUVITCFQG+PXGUVKICEKÎPFGNC(CEWNVCFFG1FQPVQ
NQIÈCFGNC70#/.COCO¶TGſTKÎnSWGNQNNGXCRCTC
SWGNGEQNQSWGPHTGPQURCTCCEQOQFCTUWUFKGPVGU
RWGUNQUVKGPGEJWGEQU€.CJKUVQTKCENÈPKECOÃFKECFGN
XCTÎPTGſGTGSWGRCFGEGUÈPFTQOGFG#URGTIGTSWG
GUWPVTCUVQTPQFGNGURGEVTQCWVKUVC#FGO¶UTGſGTG
SWGUGNGUQOGVKÎCKPVGTXGPEKQPGUSWKTÕTIKECUCNC
GFCFFGEKPEQCÌQURCTCGZVKTRCEKÎPFGNCFGPQKFGU[
FGNCUCOÈIFCNCU.CJKUVQTKCENÈPKECFGPVCNFGNXCTÎP
TGſGTGUQNCOGPVGVTCVCOKGPVQUFGTWVKPC
2CTCEQPHQTOCTGNGZRGFKGPVGFGNRCEKGPVGXCTÎPUGNG
UQNKEKVCTQPNQUUKIWKGPVGUGUVWFKQUTCFKQITCHÈCRCPQT¶OK
ECTCFKQITCHÈCNCVGTCNFGET¶PGQ#FGO¶UUGNGVQOCTQP
OQFGNQUFGGUVWFKQ[HQVQITCHÈCUGZVTCQTCNGUGKPVTCQTCNGU
'NCP¶NKUKUHCEKCNKPFKEÎSWGGNRCEKGPVGGUFQNKEQHCEKCN
EQPHQTOCHCEKCNQXCNCFC[RQUGGRGTſNEQPXGZQNCNÈPGC
OGFKCHCEKCNEQKPEKFGEQPNÈPGCOGFKCFGPVCNJKRGTVQPK
EKFCFFGNOÕUEWNQFGNOGPVÎPNCDKQUITWGUQUGKPEQO
RGVGPVGUOQTFKFCCDKGTVCCPVGTKQT¶PIWNQPCUQNCDKCNEG
TTCFQSWGEQORTQOGVGNCGUVÃVKECFGNRGTſN[GZRQUKEKÎP
FGNFGNCUEQTQPCUENÈPKECUCNCUQPTKUC
&
(KIWTC
#P¶NKUKUHCEKCN(QVQITCHÈCUGZVTCQ
TCNGUKPKEKCNGUFQPFGUGCRTGEKC
NCKPEQORGVGPEKCNCDKCN
JKRGTCEVKXKFCF FGN OÕUEWNQ FGN
OGPVÎP
FGNCUEQTQPCUENÈPKECUFG
NQUFKGPVGUCPVGTQUWRGTKQTGU
4GXKUVC/GZKECPCFG1TVQFQPEKC



(KIWTC
# $ %
'ZCOGPENÈPKEQKPVTCQTCN
(QVQITCHÈCU KPVTCQTCNGU
KPKEKCNGU#[%%NCUG+
OQNCTDKNCVGTCNENCUG++EC
PKPCDKNCVGTCN[GURCEKQU
& ' ( ) KPVGTFGPVCNGUOÕNVKRNGU$
OQTFKFCCDKGTVCCPVGTKQT
&['HCNVCFGEQQTFKPC
EKÎPFGNCUCTECFCU5Q
DTGOQTFKFCXGTVKECN
([
JQTK\QPVCN
)

(KIWTC4CFKQITCHÈCRCPQT¶OKECKPKEKCN

'NGZCOGPENÈPKEQKPVTCQTCNKPFKEÎSWGGNRCEKGPVG
RTGUGPVCENCUG+OQNCTDKNCVGTCNENCUG++ECPKPCDKNC
VGTCNGURCEKQUKPVGTFGPVCNGUOÕNVKRNGUGPNCCTECFC $
UWRGTKQTCRKÌCOKGPVQNGXGGPNCCTECFCKPHGTKQTTQ
VCEKQPGUFGPVCNGUNCNÈPGCOGFKCUWRGTKQTGKPHGTKQT %CORQ 0QTOC 2CEKGPVG
EQKPEKFGPHCNVCFGEQQTFKPCEKÎPFGNCUCTECFCUCT
50# Q Q
ECFCUWRGTKQTFGHQTOCVTKCPIWNCT[EQPEQORTGUKÎP
50$ Q Q
CTECFCKPHGTKQTFGHQTOCGNKRUQKFCNUQDTGOQTFKFC #0$ Q Q
JQTK\QPVCNFGOO[UQDTGOQTFKFCXGTVKECNFG %QPXGZKFCF OO OO
OO
(KIWTC 2TQHWPFKFCFHCEKCN Q Q
.CTCFKQITCHÈCRCPQT¶OKECKPKEKCNOWGUVTCFKGP 2TQHWPFKFCFOCZKNCT Q Q
VGURGTOCPGPVGUGTWREKQPCFQU[NQUEWCVTQIÃTOGPGU )Q)P50 Q Q
FGNQUVGTEGTQUOQNCTGUEQPWPCNQPIKVWFTCFKEWNCT #NVWTCHCEKCNKPHGTKQT Q Q
FG#FGO¶UUGQDUGTXCHCNVCFGRCTCNGNKUOQTC 'LGHCEKCN Q Q

YYYOGFKITCRJKEQTIOZ
FKEWNCTCUKOGVTÈCEQPFKNCT[TCÈEGUEQTVCUFGKPEKUKXQU
[ RTGOQNCTGU 6CODKÃP UG OWGUVTCP NQU UGPQU
&GPVCN
 Q Q
50 u Q
OCZKNCTGUNQUEÎPFKNQUNCUTCOCUOCPFKDWNCTGUFG
+/2# Q Q
HQTOCCUKOÃVTKEC[NCUTCÈEGUFGRTGOQNCTGUGPCRK 2TQVTWUKÎPKPEKUKXQKPHGTKQT vOO OO
EQHQTOCEKÎP0QUGQDUGTXÎNCRTGUGPEKCFGPKPIWPC 2TQVTWUKÎPKPEKUKXQUWRGTKQT vOO OO
RCVQNQIÈC
(KIWTC 6GLKFQUDNCPFQU
.CDKQUWRGTKQT COO OO
&+#)0¦56+%1 .CDKQKPHGTKQT COO OO

'NCP¶NKUKUEGHCNQOÃVTKEQTGXGNÎWPCOCNQENWUKÎP (KIWTC#4CFKQITCHÈCKPKEKCNNCVGTCNFGET¶PGQ$#P¶NKUKU

ENCUG++GUSWGNGVCNRQTOCPFÈDWNC[WPETGEKOKGPVQ EGHCNQOÃVTKEQ
 .KPCTGU65/[EQNU6TCVCOKGPVQQTVQFÎPEKEQEQORGPUCVQTKQRCTCWPRCEKGPVGCWVKUVCENCUG++EQPOQTFKFCCDKGTVCCPVGTKQT


XGTVKECNEQPOQTFKFCCDKGTVC
(KIWTC#.QUXCNQTGU %QPDCUGGPNQUCP¶NKUKUTGCNK\CFQUUGGPEQPVTC
EGHCNQOÃVTKEQUHWGTQPCNVQURCTCGNRNCPQOCPFKDWNCT TQPFKXGTUQURTQDNGOCUCPKXGNGUSWGNGVCNFGPVCN
NCCNVWTCHCEKCNKPHGTKQTNCEQPXGZKFCFHCEKCNNCCNVWTC GUVÃVKEQ[HWPEKQPCN
%WCFTQ+2CTCRQFGTTGUQNXGT
OCZKNCT[NCKPENKPCEKÎPFGNKPEKUKXQUWRGTKQT'PEQP GUVQURTQDNGOCUUGFGEKFKÎEQTTGIKTNCOCNQENWUKÎP
VTCUVGNQUXCNQTGUEGHCNQOÃVTKEQUHWGTQPDCLQURCTC FGNRCEKGPVGRCTCTGEWRGTCTNCHWPEKÎPFGPVQGUSWGNG
GNGLGHCEKCN[GN¶PIWNQKPVGTKPEKUCN
(KIWTC$ VCN
%WCFTQ++

%WCFTQ+2TQDNGOCUCTGUQNXGT

'USWGNGVCN &GPVCN 'UVÃVKEQ (WPEKQPCN

%NCUG++RQTOCPFÈDWNC %NCUG++ECPKPCDKNCVGTCN +PEQORGVGPEKCNCDKCN 4GURKTCEKÎPQTCN

%TGEKOKGPVQXGTVKECN 2TQKPENKPCEKÎP[RTQVTWUKÎP 4GURKTCEKÎPDWECN *¶DKVQFGNGPIWC

UGXGTCFGNKPEKUKXQUWRGTKQT

%QNCRUQFGNOCZKNCTUWRGTKQT 'URCEKQUGPNCCTECFCUWRGTKQT /QTFKFCCDKGTVCCPVGTKQT /QTFKFCCDKGTVCCPVGTKQT

#RKÌCOKGPVQNGXGGPNCCTECFC
KPHGTKQT
4QVCEKQPGUFGPVCNGU
(CNVCFGEQQTFKPCEKÎPFG
CTECFCU

%WCFTQ++/GVCU[VTCVCOKGPVQ

'USWGNGVCN &GPVCN 'UVÃVKEQ (WPEKQPCN

%QPUGIWKT %QPUGTXCT 'NKOKPCTKPEQORGVGPEKCNCDKCNOGFKCPVG 'XKVCTTGURKTCEKÎPQTCN

ENCUG+GUSWGNGVCN ENCUG+OQNCT GNEKGTTGFGNCOQTFKFCCDKGTVCCPVGTKQT
RTQOQXKGPFQKPVTWUKÎPFGOQNCTGU
UWRGTKQTGU[TQVCEKÎPOCPFKDWNCT
'XKVCTGNETGEKOKGPVQ %QPUGIWKTENCUG+ECPKPC 'NKOKPCTOQTFKFCCDKGTVCCPVGTKQT &GXQNXGTNCHWPEKÎP
XGTVKECN DKNCVGTCN OGFKCPVGGNWUQFGFQDNGDCTTCVTCPURCNC OCUVKECVQTKC
VCNCWVQTTQVCEKÎPFGNCOCPFÈDWNCEQPGN
WUQFGJKIJRWNNGKPVTWUKÎPFGOQNCTGU
'NKOKPCTGNEQNCRUQ %QTTGIKTGLGUCZKCNGUFGNQU
FGNOCZKNCTUWRGTKQT FKGPVGU
'NKOKPCTCRKÌCOKGPVQFGFKGPVGU
%GTTCTGURCEKQUKPVGTFGPVCNGU
%QPUGTXCTNÈPGCUOGFKCU
%QQTFKPCTCTECFCU
'NKOKPCTRTQKPENKPCEKÎP[

YYYOGFKITCRJKEQTIOZ
RTQVTWUKÎPUGXGTCFGNQU
KPEKUKXQUUWRGTKQTGU

# $ %
(KIWTC

'ZRCPUKÎP FGN OCZKNCT # (Q

VQITCHÈC SWG OWGUVTC NC EQO
RTGUKÎPFGNOCZKNCTUWRGTKQT$
(QVQITCHÈCFGNOCZKNCTGZRCPFKFQ
EQP*[TCZ%4CFKQITCHÈCSWG
FGPQVCNCGZRCPUKÎPFGNOCZKNCT
4GXKUVC/GZKECPCFG1TVQFQPEKC

# $
(KIWTC
(KIWTC(QVQITCHÈCUFGNRCEKGPVGWVKNK\CPFQGNCTEQGZVTCQ
(KIWTC&GURWÃUFGGUVGVKGORQUGEQNQEC
TCNFGVTCEEKÎPCNVCXKUVCHTQPVCN
#[XKUVCUCIKVCN
$ TQPNQUDTCEMGVUGPNCUEQTQPCUFGECFCFKGPVG
# $
' (
(KIWTC%QNQECEKÎPFGDTCEMGVU#&(CUGFGPKXGNCEKÎP'*(CUGFGTGVTCEEKÎPFGECPKPQU[HQTOCEKÎPFGNDNQSWGCPVGTKQT
# $
#
YYYOGFKITCRJKEQTIOZ
$ %
' (
(VWHGRFXPHQWRHVHODERUDGRSRU0HGLJUDSKLF
(KIWTC#&(CUGFGTGVTCEEKÎPFGUGIOGPVQUKPVGTFGPVCNGUEQPDWNNNQQR'*(CUGſPCNFGNVTCVCOKGPVQEQPGN¶UVKEQUKPVGTOCZKNCTGU

64#6#/+'061&'1461&10%+#
'NVTCVCOKGPVQKFGCNFGGUVGECUQENÈPKEQGTCQTVQFÎP
EKEQSWKTÕTIKEQRGTQFGDKFQCNCWVKUOQSWGRTGUGPVCDC
GNRCEKGPVGUGRTQRWUQCNQURCFTGUQRVCTRQTWPVTCVC
OKGPVQEQORGPUCVQTKQGZENWUKXCOGPVGQTVQFÎPEKEQ
2CTCNCEQTTGEEKÎPFGNCOCNQENWUKÎPENCUG++WP
*[TCZUGEQNQEÎGPGNRCNCFCTRCTCGZRCPFKTGNOCZKNCT
OO[CUÈNKDGTCTNCEQORTGUKÎPFGNOCZKNCT
2QUVGTKQTOGPVGUGEQNQEÎWPCTEQGZVTCQTCNFGVTCE
EKÎPCNVCEQPWPWUQFKCTKQFGCJQTCU'NCTEQ
GZVTCQTCNCRNKEÎWPCHWGT\CKPKEKCNFGQP\CU[WPC
HWGT\CFGOCPVGPKOKGPVQFGQP\CUFWTCPVGQEJQ
OGUGU
% &
) *
(KIWTC
#(QVQITCHÈCFGNRCNCFCTEQPCRC
TCVQNQIÈCFGFQDNGUDCTTCURCNC
VKPCUDCLCUEQPDQVÎPFGCETÈNKEQ
$(QVQITCHÈCFGNCCTECFCKPHGTKQT
VGTOKPCFCNCHCUGFGCNKPGCEKÎP[
PKXGNCEKÎP
&
) *
 .KPCTGU65/[EQNU6TCVCOKGPVQQTVQFÎPEKEQEQORGPUCVQTKQRCTCWPRCEKGPVGCWVKUVCENCUG++EQPOQTFKFCCDKGTVCCPVGTKQT


2CTCNCPKXGNCEKÎPUGWVKNK\ÎCRCTCVQNQIÈCQTVQFÎPEKEC FGCETÈNKEQRCTCGNEQPVTQNXGTVKECNFGNRCEKGPVG[RTQ
EQPNCſNQUQHÈC#NGZCPFGTŒEQPCTEQUFGŒ OQXGTNCKPVTWUKÎPFGNQUOQNCTGUEQPCTEQUFGCEGTQ
0K6K
(KIWTCU#&&GURWÃUFGNCPKXGNCEKÎPSWGFWTÎ FGŒZŒ[CPUCUFGEKGTTGGPUWRGTKQT
(K
VTGUOGUGUUGEQNQEÎWPCTEQFGCEGTQFGŒ[WP IWTC.CHCUGFGTGVTCEEKÎPFGUGIOGPVQUKPVGTFGP
CTEQGZVTCQTCNFGVTCEEKÎPCNVC
(KIWTCU'* VCNGUUGTGCNK\ÎEQPDWNNNQQR
(KIWTCU#&2CTCNC
7PCXG\TGVKTCFQGNCTEQGZVTCQTCNUGRTQEGFKÎCNC HCUGſPCNFGNVTCVCOKGPVQHWGPGEGUCTKQGNWUQFGGN¶U
EQNQECEKÎPFGFQDNGUDCTTCURCNCVKPCUDCLCUEQPDQVÎP VKEQUFGCUGPVCOKGPVQ
(KIWTCU'*

# $ % (KIWTC

#[%(QVQITCHÈCUFGNTGVGPGFQT
EKTEWPHGTGPEKCNEQPVTCORCNKPIWCN
$(QVQITCHÈCFGNTGVGPGFQTſLQKP
HGTKQTFGECPKPQCECPKPQ

%CORQ 0QTOC +PKEKQ (KPCN

50# Q Q Q

50$ Q Q Q
#0$ Q Q Q
%QPXGZKFCF OO OO OO
2TQHWPFKFCFHCEKCN Q Q Q
2TQHWPFKFCFOCZKNCT Q Q Q
)Q)P50 Q Q Q
#NVWTCHCEKCNKPHGTKQT Q Q Q
'LGHCEKCN Q Q Q
&GPVCN
 Q Q Q
50 Q Q Q
+/2# Q Q Q
2TQVTWUKÎP vOO OO OO
KPEKUKXQKPHGTKQT
2TQVTWUKÎPKPEKUKXQ vOO OO OO
# UWRGTKQT
6GLKFQUDNCPFQU
.CDKQUWRGTKQT COO OO OO
.CDKQKPHGTKQT COO OO OO

(KIWTC#4CFKQITCHÈCſPCNNCVGTCNFGET¶PGQ$#P¶NKUKUEGHCNQOÃVTKEQ

# $ %

YYYOGFKITCRJKEQTIOZ (KIWTC

(QVQITCHÈCUKPVTCQTCNGUſPC
NGU # [ % %NCUG + ECPKPC
[OQNCT$%QKPEKFGPEKCFG
& ' ( ) NCNÈPGCOGFKC[DWGPCUQ
DTGOQTFKFCXGTVKECN&['
%QQTFKPCEKÎPFGCTECFCU(
[)$WGPCTGNCEKÎPFGUQ
DTGOQTFKFCJQTK\QPVCN[XGT
VKECN
4GXKUVC/GZKECPCFG1TVQFQPEKC

.CCRCTCVQNQIÈCHWGTGVKTCFCCNQUOGUGUFGKPK
EKCFQGNVTCVCOKGPVQ[UGEQNQECTQPTGVGPGFQTEKTEWPHG
(KIWTC
TGPEKCNUWRGTKQTEQPVTCORCNKPIWCN[TGVGPGFQTſLQGP
KPHGTKQTFGECPKPQCECPKPQ
(KIWTC UGNQITÎEQPUGIWKTENCUG+ECPKPCDKNCVGTCNOGFKCPVG
4'57.6#&15
%QTTGEEKÎPGUSWGNGVCN5GEQPUKIWKÎCRTQZKOCTUG
CNCENCUG+GUSWGNGVCNOGFKCPVGNCTGVTCEEKÎPFGNUGI
OGPVQCPVGTKQTFGNOCZKNCTUWRGTKQT'PNCTCFKQITCHÈC
ſPCNNCVGTCNFGET¶PGQUGCRTGEKCGNEKGTTGFGNCOQT
(KIWTCU[6CODKÃPUGQDUGTXCGNRCTC
FKFCCDKGTVC[WPCDWGPCUQDTGOQTFKFCXGTVKECN[JQ
TK\QPVCN
(KIWTC'UVCQDUGTXCEKÎPUGXGTKſECEQP NCTEQPNCSWGGNRCEKGPVGKPKEKÎGNVTCVCOKGPVQ
NQUXCNQTGUEGHCNQOÃVTKEQUFQPFGUGQDUGTXÎWP¶P
IWNQFG#0$[EQPXGZKFCFSWGPQUKPFKECSWGNQUXC
NQTGUUQPRTÎZKOQUCWPCENCUG+GUSWGNGVCNGNRCVTÎP
(KIWTC
FGETGEKOKGPVQUGOCPVWXQXGTVKECNRGTQPQCWOGPVÎ
CNKIWCNSWGNCCNVWTCHCEKCNKPHGTKQT'N¶PIWNQKPVGTKP
EKUCNKPFKECSWGUGEQPUKIWKÎWPCOGLQTTGNCEKÎPGP
KPEKUKXQUUWRGTKQTUGQDUGTXCSWGUGGNKOKPÎVCPVQNC
RTQKPENKPCEKÎPEQOQNCRTQVTWUKÎPSWGRTGUGPVCDC
'NETGEKOKGPVQXGTVKECNUGEQPVTQNÎOGFKCPVGGN
WUQFGFQDNGUDCTTCURCNCVKPCU[FGNCTEQGZVTCQ
TCNNQSWGPQRGTOKVKÎSWGUGUKIWKGTCGZRTGUCPFQ
GNOQXKOKGPVQFGGZVTWUKÎPPQTOCNFGOQNCTGUNQ
EWCNCUWXG\RGTOKVKÎNCEQTTGEEKÎPFGNCENCUG++
[GNEKGTTGFGNCOQTFKFCCDKGTVCRTQOQXKGPFQVCO
DKÃPEKGTVCTQVCEKÎPOCPFKDWNCTCRGUCTSWGGNETG
(KIWTC
(KIWTC4CFKQITCHÈCRCPQT¶OKECſPCN
YYYOGFKITCRJKEQTIOZ
# $ % &

EKOKGPVQXGTVKECNFGNRCEKGPVGUGUKIWKÎGZRTGUCPFQ
%QTTGEEKÎPFGPVCN5GEQPUGTXÎNCENCUG+OQNCT
NCTGVTCEEKÎPFGNUGIOGPVQCPVGTKQTUWRGTKQT[GNWUQ
FGNKICUFGENCUG++5GEQPUKIWKÎGNEKGTTGFGNCOQT
FKFCCDKGTVCCPVGTKQTUGEQTTKIKGTQPNQUGLGUCZKCNGU
FGNQUFKGPVGUUGEGTTCTQPNQUGURCEKQUKPVGTFGPVCNGU
UGEGPVTCTQPNÈPGCUOGFKCUFGPVCNGU[UGEQTTKIKÎNC
RTQKPENKPCEKÎPGZEGUKXCSWGRTGUGPVCDCGNKPEKUKXQUW
RGTKQT
NGNKUOQſPCN[GNOCPVGPKOKGPVQFGNCNQPIKVWFTCFKEW
%QTTGEEKÎPGUVÃVKEC5GEQPUKIWKÎWPOGLQTUGNNC
FQNCDKCN[GNEKGTTGFGNCOQTFKFCCDKGTVCSWGRTGUGP
VCDCGNRCEKGPVG
%QTTGEEKÎPHWPEKQPCN#NGNKOKPCTNCOQTFKFCCDKGT
VCCPVGTKQTUGOGLQTÎNCTGURKTCEKÎPQTCNSWGRTGUGPVCDC
GNRCEKGPVG[UGNGFKQWPCOGLQTHWPEKÎPOCUVKECVQTKC
#NJCEGTNCUQDTGRQUKEKÎPFGNCUTCFKQITCHÈCUKPKEKCN
[ſPCN5GUKIWKÎGZRTGUCPFQGNETGEKOKGPVQXGTVKECN
FGNRCEKGPVGCUÈEQOQWPCNGXGTQVCEKÎPJCEKCCFGNCPVG
[CTTKDC5GQDUGTXCGNNGXGECODKQFGNRWPVQ#JCEKC
CFGNCPVGRQTGNTGOCPGPVGFGETGEKOKGPVQ5GQD
UGTXCNCTGVTQKPENKPCEKÎPSWGJWDQFGNKPEKUKXQUWRGTKQT
UGQDUGTXCVCODKÃPSWGGNOQNCTUWRGTKQTUGOCPVWXQ
GPRQUKEKÎP5GQDUGTXCNCNGXGTGVTQKPENKPCEKÎPSWG
JWDQFGNKPEKUKXQKPHGTKQT5GQDUGTXCNCTGVTCEEKÎP
FGNNCDKQUWRGTKQT[SWGGNNCDKQKPHGTKQTUGOCPVWXQGP
RQUKEKÎP5GQDUGTXCNCRTQVTWUKÎPSWGUKIWGJCDKGP
FQFGNQUNCDKQUCWPSWGPQGUOW[EQPſCDNGRQTSWGGN
RCEKGPVGCNCVQOCFGNCTCFKQITCHÈCRTGUGPVCDCJKRGT
VQPKEKFCFFGNQUOÕUEWNQUFGNOGPVÎP5GQDUGTXCNC
TGVTCEEKÎPFGNNCDKQUWRGTKQT
&+5%75+¦0
6TCVCOKGPVQFGQTVQFQPEKC
7PCFGNCUOC[QTGUFKſEWNVCFGUCNVTCVCTRCEKGPVGUJK
RGTFKXGTIGPVGUGUGXKVCTCWOGPVCTGNRNCPQOCPFKDWNCT
*CPUKFQWVKNK\CFQUFKHGTGPVGUOÃVQFQURCTCGNVTCVCOKGP
(KIWTC
(QVQITCHÈCUſPCNGUGZVTCQTCNGU#%[
&/GLQTEKGTTGNCDKCN$5QPTKUCEQP
OGLQTGUVÃVKEC
 .KPCTGU65/[EQNU6TCVCOKGPVQQTVQFÎPEKEQEQORGPUCVQTKQRCTCWPRCEKGPVGCWVKUVCENCUG++EQPOQTFKFCCDKGTVCCPVGTKQT

VQGPRCEKGPVGUEQPGUVCUECTCEVGTÈUVKECURGTQNCOC[Q
TÈCFGGNNQUEQOQGNCTEQGZVTCQTCNCRCTCVQUQTVQRÃFKEQU
EQOQGN(TCPMGN#%%1NKICUFGENCUG++FGRGPFGPGP
ITCPRCTVGFGNCEQQRGTCEKÎPFGNRCEKGPVG0CPFCTGRQT
VCSWGGNVKRQFGCRNKECEKÎPFGHWGT\CVKGPGWPGHGEVQUKI
PKſECVKXQUQDTGNQUECODKQUGPNCCNVWTCHCEKCNCPVGTKQT[
NCCNVWTCHCEKCNRQUVGTKQT'PGUVGECUQCFGO¶UFGNWUQ
FGNCTEQGZVTCQTCNHWGTQPGORNGCFCUFQDNGDCTTCURCNCVK
PCUDCLCURCTCGNEQPVTQNXGTVKECNFGNRCEKGPVG[EQOQUG
RWGFGEQORTQDCTGPNQU¶PIWNQU)Q)P50SWGFGKPKEKQ
HWGQ[GNſPCNFGQJWDQWPCTQVCEKÎPOCPFKDWNCTNQ
SWGRTQOQXKÎGNEKGTTGFGNCOQTFKFCCDKGTVCVCODKÃPNC
OGFKFCFGNCCNVWTCHCEKCNKPHGTKQTSWGFGKPKEKQHWGFGQ
[VGTOKPCOQUEQPWPFCVQſPCNFGQEQOQNQOGPEKQ
PCP5RGPC[)TCEEQPQUKPFKECSWGPQUGCWOGPVÎGP
OC[QTOGFKFCRQTNQSWGUGRWGFGEQPUKFGTCTSWGJWDQ
WPDWGPEQPVTQNXGTVKECN
YYYOGFKITCRJKEQTIOZ
-WJPEQPUKFGTÎGNEQPVTQNFGNCGTWREKÎPFGNQU
FKGPVGURQUVGTKQTGUEQOQWPHCEVQTRCTCOQFKſECTQ
OCPVGPGTNCCNVWTCHCEKCNKPHGTKQT.QUFCVQUEGHCNQ
OÃVTKEQUOQUVTCTQPSWGUGKPETGOGPVCTQPNQUXCNQTGU
XGTVKECNGUFGNRCEKGPVGEQOQNCCNVWTCFGNVGTEKQKPHGTKQT
SWGKPKEKÎEQPWPXCNQTFGQ[CNſPCNQGNGLGHCEKCN
KPKEKÎEQPQ[CNſPCNQNCTC\ÎPRQTNCSWGGNRNCPQ
OCPFKDWNCTPQUGGZRTGUCCRGUCTFGNCWOGPVQFGGU
VQUXCNQTGUGURQTGNRCVTÎPFGETGEKOKGPVQTQVCEKQPCN
SWGRTGUGPVÎGNRCEKGPVG[NCOCPFÈDWNCUGGZRTGUÎ
JCEKCCFGNCPVG
(KIWTC5QDTGKORQUKEKÎPFG
NCUTCFKQITCHÈCUFGKPKEKQ[ſPCN
FQPFGUGEQTTQDQTCNQSWGUGGP
EQPVTÎCNEQORCTCTNQUFCVQUFG
KPKEKQ[ſPCNFGNCUEGHCNQOGVTÈCU
/CPGLQFGNRCEKGPVGCWVKUVC
%QOQUGOGPEKQPÎCPVGTKQTOGPVGNQURCEKGPVGUCWVKU
VCUPQRQUGGPWPCDWGPCKPVGTCEEKÎPUQEKCNVKGPGPRTQDNG
OCUFGNGPIWCLG[FGEQORQTVCOKGPVQ'NÃZKVQFGNVTCVC
OKGPVQQTVQFÎPEKEQFGNRTGUGPVGECUQENÈPKEQUGFGDKÎGP
ITCPOGFKFCCNCCRNKECEKÎPFGXCTKCUGUVTCVGIKCUFGEQO
RQTVCOKGPVQ.QRTKOGTQHWGKFGPVKſECTNQURWPVQUETÈVKEQU
GPGNEQORQTVCOKGPVQFGNRCEKGPVG'UVQGUSWÃVKRQFG
CEVKXKFCFGUECWUCDCPCPUKGFCFCNRCEKGPVG2CTCKFGP
VKſECTNQURWPVQUETÈVKEQUQDUGTXCOQUSWGCRTQZKOCTUG
EQPTCRKFG\PQJCDNCTNG[PQFGEKTNGSWGUGNGKDCCVQECT
NGECWUCDCCPUKGFCF%QPDCUGGPGUVCUQDUGTXCEKQPGUGN
QTVQFQPEKUVCCRTGPFKÎCCEGTECTUGCNRCEKGPVGEQPNGPVKVWF
[GPWPRTKPEKRKQCEQORCÌCFQFGCNIWPQFGNQURCFTGU
RQUVGTKQTOGPVGGNOKUOQRCEKGPVGRKFKÎGPVTCTUQNQEQP
GNQTVQFQPEKUVC.CHQTOCFGCEGTECTUGCNRCEKGPVGHWG
UKGORTGJCDN¶PFQNG[NWGIQFKEKÃPFQNGVQFQNQSWGUGXC
CTGCNK\CT'UVCGUVTCVGIKCRGTOKVKÎGUVCDNGEGTWPXÈPEWNQ
GUVTGEJQGPVTGGNRCEKGPVG[GNQTVQFQPEKUVC'NVTCVCOKGPVQ
QTVQFÎPEKEQFGNRCEKGPVGHWGTGCNK\CFQUÎNQRQTWPQTVQ
FQPEKUVCTGUVTKPIKGPFQNCUQEKCNK\CEKÎP
#FKEKQPCNOGPVGUGFKGTQPKPUVTWEEKQPGUCNQURC
FTGURCTCGPUGÌCTCNRCEKGPVGJCDKNKFCFGUTGNCEKQPC
FCUEQPUWEKVCCNFGPVKUVC%QOGPVCTNGSWGNCUXKUK
VCUUGTÈCPTGIWNCTGU[SWGPQFGDÈCVGPGTOKGFQ'UVQ
EQPUQNKFÎNCTGNCEKÎPEQPGNQTVQFQPEKUVC[RGTOKVKÎCN
RCEKGPVGUGPVKTUGUGIWTQ
4GXKUVC/GZKECPCFG1TVQFQPEKC

'N RCEKGPVG GTC TGURKTCFQT QTCN EQP J¶DKVQ FG
NGPIWC'NVTCVCOKGPVQQTVQFÎPEKEQRGTOKVKÎCNRC
EKGPVGRQFGTEGTTCTNQUNCDKQURGTQVGPÈCGNJ¶DKVQ

FGPQJCEGTNQ'PGUVGECUQNCC[WFCFGNQURCFTGU
HWG HWPFCOGPVCN RCTC SWG TGCRTGPFKGTC C EGTTCT

UWUNCDKQU(KPCNOGPVGGNJ¶DKVQFGNGPIWCPQHWG
RQUKDNGGNKOKPCTNQRGTQUGWVKNK\ÎWPUKUVGOCRCTC
EQPVTQNCTNQ

%10%.75+10'5

Ŗ 5GNQITÎWPDWGPEQPVTQNXGTVKECNOGFKCPVGGNWUQFG

NCUFQDNGUDCTTCURCNCVKPCU[GNCTEQGZVTCQTCN
Ŗ .CTQVCEKÎPOCPFKDWNCTSWGUGFKQHCXQTGEKFCRQT

GNEQPVTQNXGTVKECNRGTOKVKÎGNEKGTTGFGNCOQTFKFC
CDKGTVCCPVGTKQT
Ŗ .CEQQRGTCEKÎPFGNQURCFTGUFGNRCEKGPVGHWGWP

HCEVQTHWPFCOGPVCNGPGNÃZKVQFGNVTCVCOKGPVQFGDK
FQCNCUECTCEVGTÈUVKECUGURGEKCNGUSWGRTGUGPVCDC

GNRCEKGPVGRQTGNCWVKUOQSWGRCFGEG

Ŗ .CCRNKECEKÎPFGVÃEPKECUFGNOCPGLQFGNCEQPFWE
VCEQOQNCFGUGPUKDKNK\CEKÎPUKUVGO¶VKECRGTOKVKG
TQPWPCDWGPCEQQRGTCEKÎPRQTRCTVGFGNRCEKGPVG

FWTCPVGUWVTCVCOKGPVQ
Ŗ 'NOCPGLQFGNRCEKGPVGCWVKUVCTGSWKGTGFGEQPQEK

OKGPVQFGVÃEPKECUFGEQORQTVCOKGPVQ[FGNCEQQ
RGTCEKÎPFGNQURCFTGU

4'('4'0%+#5

 8GNNKPK(GTTGKTC(1TVQFQPEKC&KCIPÎUVKEQ[RNCPKſECEKÎPENÈPKEC
5CQ2CWNQ$TC\KN'FKVQTKCN#TVGU/ÃFKECU.CVKPQCOGTKECPCU
/4&&RGTUQPU5RGE%CTG&GPVKUV


 (KTQW\/<GTPKM,0CPFC4&GPVCNCPFQTVJQRGFKEGHHGEVUQH
JKIJRWNNJGCFIGCTKPVTGCVOGPVQHENCUU++FKXKUKQPOCNQEENW
UKQP#O,1TVJQF&GPVQHCEKCN1TVJQR

 )TCDGT6)TCDGT6/1TVQFQPEKCVGQTÈC[RT¶EVKECCGF/ÃZK
EQ'FKVQTKCN+PVGTCOGTKECPC
 4QFTÈIWG\'9.#TCWLQ44KXCU<)ÎOG\#1TVQFQPEKCEQP
VGORQT¶PGC&KCIPÎUVKEQ[VTCVCOKGPVQCGF8GPG\WGNC
'FKVQTKCN#/1.%#
 $LÑTM#2TGFKEVKQPQHOCPFKDWNCTITQYVJTQVCVKQP#O,1TVJQF


YYYOGFKITCRJKEQTIOZ

 +UECP*05CTKUQ[.%QORCTKUQPQHVJGGHHGEVUQHRCUUKXGRQU
VGTKQTDKVGDNQEMUYKVJFKHHGTGPVEQPUVTWEVKQPDKVGUQPVJGETCPKQ
HCEKCNCPFFGPVQCNXGQNCTUVTWEVWTGU#O,1TVJQF&GPVQHCEKCN1T
VJQR
 *QVQMG\CMC*/CVUWQ60CMCICYC//K\WPQ#-QDC[CUJK
-5GXGTGFGPVCNQRGPDKVGOCNQEENWUKQPYKVJVQPIWGTGFWE
VKQPCHVGTQTVJQFQPVKEVTGCVOGPV#PING1TVJQF

 0KGNUGP+.8GTVKECNOCNQEENWUKQPUGVKQNQI[FGXGNQROGPVFKCI
PQUKUCPFUQOGCURGEVUQHVTGCVOGPV#PING1TVJQF
 4KEJCTFUQP#5MGNGVCNHCEVQTUKPCPVGTKQTQRGPDKVGCPFFGGR
QXGTDKVG#O,1TVJQF
5CPFNGT2,/CFCJCT#-/WTTC[##PVGTKQTQRGPDKVGCGVKQNQ
I[CPFOCPCIGOGPV&GPV7RFCVG

-WJP4,%QPVTQNQHCPVGTKQTXGTVKECNFKOGPUKQPCPFRTQRGTUGNGE
VKQPQHGZVTCQTCNCPEJQTCIG#PING1TVJQF
5OKVJRGVGT,%QXGNN&4GNCRUGQHCPVGTKQTQRGPDKVGUVTGCVGF
YKVJQTVJQFQPVKECRRNKCPEGUYKVJCPFYKVJQWVQTQHCEKCNO[Q
HWPEVKQPCNVJGTCR[#O,1TVJQF&GPVQHCEKCN1TVJQR
1NUGP%$#PVGTKQTETQUUDKVGEQTTGEVKQPKPWPEQQRGTCVKXGQTFKUC
DNGFEJKNFTGP%CUGTGRQTVU#WUV&GPV,
/QTTKUQP,$QQMTGXKGYQRGPDKVGOCNQEENWUKQPVTGCVOGPVCPF
UVCDKNKV[$T&GPV,
5RGPC4)TCEEQ#8GTVKECNEQPVTQNKPPQPGZVTCEVKQPVTGCVOGPV
QHITQYKPIRCVKGPVUYKVJCPVGTKQTUMGNGVCNQRGPDKVG,%NKP1T
VJQF
(CJNXKM2NCPGHGNFV%*GTTUVTÑO2&GPVCNECTGQHCWVKUVKEEJKN
FTGPYKVJKPVJGPQPURGEKCNK\GF2WDNKEFGPVCNUGTXKEG5YGF
&GPV,
#[GTU-//GNFTWO#/*CTFKPI9,3WKEM#0/CPCIGOGPVQH
CUKORNGCPVGTKQTETQUUDKVGKPCEJKNFYKVJCWVKUOCTGXKGYCPF
ECUGTGRQTV0<&GPV,
9W+/-KPI0/4CDKG#$5WTIKECNQTVJQFQPVKEOCPCIGOGPVQH
CEJKNFYKVJCWVKUO,%NKP1TVJQF
8KVVGM,9KPKM59KPKM#5KQTKU%6CTCPIGNQ#/%JQW/
#PCN[UKUQHQTVJQFQPVKECPQOCNKGUKPOGPVCNN[TGVCTFGFFGXGNQR
OGPVCNN[FKUCDNGF
&KTGEEKÎPRCTCEQTTGURQPFGPEKC
4QDGTVQ4WK\&ÈC\
'OCKNFTTWK\F"[CJQQEQOOZ
'KNGGP7TKDG3WGTQN
'OCKNGWSWGTQN"EQOWPKFCFWPCOOZ