3DUDOLPSLDUODVXSHUILFLHGHODFDPSDQDXVHXQSDxRKXPHGHFLGRFRQDJXDFDOLHQWH\GHWHUJHQWHVXDYHDGHFXDGRSDUDVXSHUILFLHVSLQWDGDV8VHXQSDxROLPSLRKXPHGHFLGRFRQDJXDFDOLHQWHSDUDUHWLUDUHOMDEyQ6HTXHFRQXQSDxROLPSLR\VHFR1RXVHHVSRQMLOODVXRWURVOLPSLDGRUHVDEUDVLYRV\DTXHSXHGHQUD\DUODVXSHUILFLH/LPSLHFRQXQSDxROLPSLRKXPHGHFLGRFRQDJXDFDOLHQWHGHVSXpVGHXVDUOLPSLDGRUHV6XSHUILFLHVSLQWDGDV HQDOJXQRVPRGHORV&XLGDGR\OLPSLH]DGHODFDPSDQDGHYHQWLODFLyQ$'9(57(1&,$Hg /DOiPSDUDFRQWLHQHPHUFXULR0DQHMHGHDFXHUGRFRQODVOH\HVGHHOLPLQDFLyQ9HUZZZODPSUHF\FOHRUJR3DUDSUHFDXFLRQHVVREUHLQVWDODFLyQPDQLSXODFLyQ\HOLPLQDFLyQFRQVXOWHODLQIRUPDFLyQGHHPSDTXHGHODOiPSDUDIOXRUHVFHQWH$'9(57(1&,$3DUDUHGXFLUHOULHVJRGHXQDGHVFDUJDHOpFWULFDQRFRQHFWHODHQHUJtDHOpFWULFDKDFLDODFDPSDQDVLQDPEDVOiPSDUDVHQVXOXJDU35(&$8&,Ï11RWRTXHODVOiPSDUDVGHODFDPSDQDFXDQGRVHHQFXHQWUHQHQFHQGLGDV3XHGHQHVWDUORVXILFLHQWHPHQWHFDOLHQWHVFRPRSDUDSURYRFDUOHVLRQHV3DUDHYLWDUOHVLRQHVSURYRFDGDVSRUOiPSDUDVURWDVPDQLS~OHODVFRQFXLGDGR\QRRSHUHODFDPSDQDVLQODVFXELHUWDVGHODVOiPSDUDVHQVXOXJDU(VWDFDPSDQDUHTXLHUHGRVOiPSDUDVIOXRUHVFHQWHVFRPSDFWDV &)/ FRQXQDEDVH*8 LQFOXLGD GHYDWLRVFRPRPi[LPR3DUDFDPELDUODVOiPSDUDV&XDQGRLQVWDOHRUHHPSODFHXQDOiPSDUDDVHJ~UHVHGHTXHODHQHUJtDGLULJLGDKDFLDODOX]VHKD\DDSDJDGR1XQFDSHUPLWDTXHXQDOiPSDUDHQWUHHQFRQWDFWRFRQDJXD 4XLWHODFXELHUWDGHODOiPSDUDGHVOL]iQGRODXQVHQWLGRKRUL]RQWDO\MDOiQGRODKDFLDDEDMR\HQVHQWLGRFRQWUDULRGHODFDPSDQD 7RPHODOiPSDUDGHODSRUFLyQSOiVWLFDGHODEDVHGHODOiPSDUD\GHVHQUyVTXHOD &RORTXHXQDOiPSDUDIOXRUHVFHQWHFRPSDFWD*(:GHEDMRFRQVXPRFRQODSLH]DGHVHUYLFLR*(SDUDEDVH*8:%;/XFHVGHODFDPSDQD127$/RVILOWURVGHFDUEyQQRHVWiQLQFOXLGRVFRQODFDPSDQD'HEHQVHURUGHQDGRVGHVXVXSOLGRU*(6LHOPRGHORQRWLHQHYHQWLODFLyQKDFLDHOH[WHULRUHODLUHVHUHFLUFXODDWUDYpVGHORVILOWURVGHFDUEyQGHVHFKDEOHVTXHD\XGDQDHYLWDUHOKXPR\ORVRORUHV/RVILOWURVGHFDUEyQVHGHEHQUHHPSOD]DUFXDQGRHVWpQREYLDPHQWHVXFLRVRGHVFRORULGRV SRUORJHQHUDOGHVSXpVGHDPHVHVGHSHQGLHQGRGHOXVRGHODFDPSDQD 127$12HQMXDJXHRODYHORVILOWURVGHFDUEyQHQXQODYDSODWRVDXWRPiWLFR1RWD6LODFDPSDQDVHLQVWDODHQPRGRGHUHFLUFXODFLyQQRVHHQFXHQWUDFHUWLILFDGDSRU(1(5*< 67$5)LOWURVGHFDUEyQ HQDOJXQRVPRGHORV/RVILOWURVGHFDUEyQQRVHSXHGHQOLPSLDUVLQRTXHVHGHEHQUHHPSOD]DU2UGHQHHONLW1R:%;(VWRVNLWVVHSXHGHQRUGHQDUDWUDYpVGHVXSURYHHGRU*(/RVILOWURVGHFDUEyQHVWiQXQLGRVDOLQWHULRUGHFDGDILOWURPHWiOLFRSDUDODJUDVD6XSHUILFLHVGHDFHURLQR[LGDEOH HQDOJXQRVPRGHORV1RXWLOLFHDOPRKDGLOODVGHODQDGHDFHUR\DTXHUD\DUiODVXSHUILFLH3DUDOLPSLDUODVXSHUILFLHGHDFHURLQR[LGDEOHXWLOLFHDJXDMDERQRVDRXOLPSLDGRURSRPDGDSDUDDFHURLQR[LGDEOH6LHPSUHOLPSLHODVXSHUILFLHHQODGLUHFFLyQGHOJUDQR6LJDODVLQVWUXFFLRQHVGHOSURGXFWROLPSLDGRUDOOLPSLDUODVXSHUILFLHGHDFHURLQR[LGDEOH6LWLHQHSUHJXQWDVVREUHODFRPSUDGHXQOLPSLDGRURSRPDGDOLPSLDGRUDGHHOHFWURGRPpVWLFRVGHDFHURLQR[LGDEOHRSDUDDYHULJXDUODGLUHFFLyQGHOGLVWULEXLGRUPiVFHUFDQRSRUIDYRUOODPHDOVLJXLHQWHQ~PHURWHOHIyQLFRJUDWXLWR&HQWURQDFLRQDOGHSLH]DV *($SSOLDQFHVFRP