&XUUtFXORGR6LVWHPDGH&XUUtFXORV/DWWHV3DXOR5REHUWR/RQJKL 3DXOR5REHUWR/RQJKL (QGHUHoRSDUDDFHVVDUHVWH&9KWWSODWWHVFQSTEU ÒOWLPDDWXDOL]DomRGRFXUUtFXORHP 3RVVXLJUDGXDomRHPDGPLQLVWUDomRGHHPSUHVDVSHOD3RQWLItFLD8QLYHUVLGDGH&DWyOLFDGH6mR3DXOR JUDGXDomR HP (GXFDomR )LVLFD SHOD )DFXOGDGH GH (GXFDomR )LVLFD GH %DUUD %RQLWD H 0HVWUDGR HP 3URJUDPDGH3RV*UDGXDomRHP(QJHQKDULDGH3URGXomRSHOD8QLYHUVLGDGH0HWRGLVWDGH(QVLQRGH3LUDFLFDED 'RXWRUDQGR HP (QJHQKDULD GH 3URGXomR QD 8QLYHUVLGDGH GH 6mR 3DXOR 863 GH 6mR &DUORV 3UHVWD DVVHVVRULD DGPLQLVWUDWLYD H ORJLVWLFD 3URGDEDUUD &RPHUFLR H 6HUYLoRV /WGD DVVHVVRULD DGPLQLVWUDWLYD H ORJLVWLFD&LFORWURQ,QGXVWULD(OHWURQLFD/WGDDVVHVVRULDDGPLQLVWUDWLYDHORJLVWLFD,UPDRV5RVVLPDWHULDLVSDUD FRQVWUXFDROWGD3HULWR-XGLFLDOWULEXQDOGHMXVWLFDGRHVWDGRGHVDRSDXORDVVHVVRULDDGPLQLVWUDWLYDHORJLVWLFD 0RYHLV%RFD5LFDOWGDeSURIHVVRU$VVRFLDGR,GR&HQWUR3DXOD6RX]D)DFXOGDGH7HFQRORJLDGH-DKXDWXDQGR SULQFLSDOPHQWH QRV VHJXLQWHV WHPDV DVVLQDWXUD GLJLWDO DXWRPDFDR HPSUHHQGHGRULVPR QRYDV WHFQRORJLDV SHVTXLVDRSHUDFLRQDOHPHWRGRVTXDQWLWDWLYRV'HVGHMDQHLURGHRFXSDRFDUJRGH3UHVLGHQWHGD'LUHWRULD ([HFXWLYDGD)XQGDomR%DUUD%RQLWDGH(QVLQR)XQEEH$SDUWLUGHMXOKRGHDVVXPLXRFDUJRGH'LUHWRU GD ),3 )DFXOGDGH GR ,QWHULRU 3DXOLVWD &XUVR GH $GPLQLVWUDomR GH (PSUHVDV H GD )$(), )DFXOGDGH GH (GXFDomR)tVLFDGH%DUUD%RQLWD&XUVRGH(GXFDomR)tVLFDH1XWULomR7H[WRLQIRUPDGRSHORDXWRU ,GHQWLILFDomR 1RPH 3DXOR5REHUWR/RQJKL 1RPHHPFLWDo}HVELEOLRJUiILFDV /21*+,35 (QGHUHoR (QGHUHoR3URILVVLRQDO )XQEEH)XQGDomR%DUUD%RQLWDGH(QVLQR)XQEEH)XQGDomR%DUUD%RQLWDGH(QVLQR UXD-RmR*HULQ YLODRSHUiULD %DUUD%RQLWD63%UDVLO 7HOHIRQH 5DPDO )RUPDomRDFDGrPLFDWLWXODomR KWWSEXVFDWH[WXDOFQSTEUEXVFDWH[WXDOYLVXDOL]DFYGR"LG .< &XUUtFXORGR6LVWHPDGH&XUUtFXORV/DWWHV3DXOR5REHUWR/RQJKL 0HVWUDGRHPSURJUDPDGHSRVJUDGXDomRHPHQJHQKDULDGHSURGXom XQLYHUVLGDGHPHWRGLVWDGHHQVLQRGHSLUDFLFDED81,0(3%UDVLO 7tWXOR3523267$'(806,67(0$3$5$5$&,21$/,=$d2'2)/8;2'(75$163257( '$&$1$'($dÒ&$5(080$(035(6$68&52$/&22/(,5$$QRGH2EWHQomR 2ULHQWDGRU)HUQDQGR%HUQDUGLGH6RX]D (VSHFLDOL]DomRHPDQDOLVHGHVLVWHPDV&DUJD+RUiULDK LQVWLWXWRSLUDFLFDEDQRGHHQVLQR81,0(3%UDVLO *UDGXDomRHP('8&$d2),6,&$ )$&8/'$'('(('8&$d2),6,&$'(%$55$%21,7$)$(),%UDVLO *UDGXDomRHPDGPLQLVWUDomRGHHPSUHVDV 3RQWLItFLD8QLYHUVLGDGH&DWyOLFDGH6mR3DXOR38&63%UDVLO )RUPDomR&RPSOHPHQWDU ZRUNVKRSGRFHQWHV&DUJDKRUiULDK &HQWUR3DXOD6RX]D)DFXOGDGH7HFQRORJLDGH-DKX)$7(&%UDVLO HUSGDLQGXVWULDPDGHLUHLUD&DUJDKRUiULDK XQHVSLWDSHYD81(63%UDVLO HUSGDLQGXVWULDPDGHLUHLUDPLFURVLJDGHEDXUX&DUJDKRUiULDK XQHVSLWDSHYD81(63%UDVLO DXGLWRUOHDGHULVR&DUJDKRUiULDK VJVFHUWLILFDGRUDLVR6*6%UDVLO HVFULWXUDFDRILVFDOSRUSURFHVVDPHQWRGHGDGRV&DUJDKRUiULDK SURGHS352'(3%UDVLO KWWSEXVFDWH[WXDOFQSTEUEXVFDWH[WXDOYLVXDOL]DFYGR"LG .< &XUUtFXORGR6LVWHPDGH&XUUtFXORV/DWWHV3DXOR5REHUWR/RQJKL HYLWHSHUGDVQRVHXIOX[RGHFDL[D&DUJDKRUiULDK LQWHUWHFK,17(57(&+%UDVLO VGHROKRQDTXDOLGDGH&DUJDKRUiULDK FRVDQLQGXVWULDGHDOLPHQWRV&26$1%UDVLO QRWDVILVFDLVVLQWHJUD&DUJDKRUiULDK SURGHS352'(3%UDVLO &XUVRGH$XGLWRULD,QWHUQDHP6LVWHPDVGD4XDOLGDG&DUJDKRUiULDK ,QWHU$FWLRQ"5HFXUVRV7HUFHLUL]DGRV6&/WGD,17(5$&7,21%UDVLO )RUPDomRSDUDD%DQFD([DPLQDGRUDGR3UrPLR$173G&DUJDKRUiULDK DVVRFQDFLRQDOWUDQVSRUWHVFROHWLYRV$173%UDVLO $SUHVHQWDomRGRVHPLQiULRLQWLWXODGR8VRGHVLPXO&DUJDKRUiULDK 8QLYHUVLGDGH)HGHUDOGH6mR&DUORV8)6&$5%UDVLO 1RYDIRUPDGHDXGLWRULDGD5HFHLWD)HGHUDO&DUJDKRUiULDK SURGHS352'(3%UDVLO JTOXVHU&DUJDKRUiULDK SHUURWWLLQIRUPDWLFD3(55277,%UDVLO HVSDQKRO&DUJDKRUiULDK FDVDGDFXOWXUDGHEDUUDERQLWD&$6$&8/785$%UDVLO LQJOHV&DUJDKRUiULDK HFS(&3%UDVLO (VFULWXUDomR)LVFDOSRU3URFHVVDPHQWRGH'DGRV&DUJDKRUiULDK SURGHS352'(3%UDVLO KWWSEXVFDWH[WXDOFQSTEUEXVFDWH[WXDOYLVXDOL]DFYGR"LG .< &XUUtFXORGR6LVWHPDGH&XUUtFXORV/DWWHV3DXOR5REHUWR/RQJKL $WXDomR3URILVVLRQDO )XQGDomR%DUUD%RQLWDGH(QVLQR)XQ%%(%UDVLO 9tQFXORLQVWLWXFLRQDO $WXDO 9tQFXOR&HOHWLVWD(QTXDGUDPHQWR)XQFLRQDOGLUHWRULDH[HFXWLYDSUHVLGHrQFLD&DUJD KRUiULD5HJLPH'HGLFDomRH[FOXVLYD WULEXQDOGHMXVWLFDGRHVWDGRGHVDRSDXOR7-%UDVLO 9tQFXORLQVWLWXFLRQDO $WXDO 9tQFXORSHULWRMXGLFLDO(QTXDGUDPHQWR)XQFLRQDOSHULWRMXGLFLDO 2XWUDVLQIRUPDo}HV SHULWRMXGLFLDOGDFRPDUFDGHEDUUDERQLWD LUPDRVURVVLPDWHULDLVSDUDFRQVWUXFDROWGD,50$265266,%UDVLO 9tQFXORLQVWLWXFLRQDO 9tQFXORDVVHVVRULD(QTXDGUDPHQWR)XQFLRQDODVVHVVRULDDGPLQLVWUDWLYDHORJLVWLFD 2XWUDVLQIRUPDo}HV DVVHVRULDDGPLQLVWUDWLYDHORJLVWLFD PRYHLVERFDULFDOWGD0%5%UDVLO 9tQFXORLQVWLWXFLRQDO $WXDO 9tQFXORSUHVWDGRUGHVHUYLFRV(QTXDGUDPHQWR)XQFLRQDODVVHVVRULDDGPLQLVWUDWLYDH KWWSEXVFDWH[WXDOFQSTEUEXVFDWH[WXDOYLVXDOL]DFYGR"LG .< &XUUtFXORGR6LVWHPDGH&XUUtFXORV/DWWHV3DXOR5REHUWR/RQJKL 9tQFXORSUHVWDGRUGHVHUYLFRV(QTXDGUDPHQWR)XQFLRQDODVVHVVRULDDGPLQLVWUDWLYDH ORJLVWLFD 2XWUDVLQIRUPDo}HV DVVHVVRULDDGPLQLVWUDWLYDHORJLVWLFD 8QLYHUVLGDGH(VWDGXDO3DXOLVWD8QLGDGH'LIHUHQFLDGDGH,WDSHYD 6381(63%UDVLO 9tQFXORLQVWLWXFLRQDO 9tQFXOR&HOHWLVWDIRUPDO(QTXDGUDPHQWR)XQFLRQDO3URIHVVRU6XEVWLWXWR&DUJDKRUiULD 2XWUDVLQIRUPDo}HV 0DWpULDVOHFLRQDGDV32"3HVTXLVD2SHUDFLRQDO/RJtVWLFDGDV,QGXVWULDV0DGHLUHLUDV *HUHQFLDGH5HFXUVRV+XPDQRV$GPLQLVWUDomRGD3URGXomR6RFLRORJLD$SOLFDGDD (QJHQKDULD &LFORWURQ,QGXVWULD(OHWURQLFD/WGD&,&/27521%UDVLO 9tQFXORLQVWLWXFLRQDO 9tQFXORDVVHVVRU(QTXDGUDPHQWR)XQFLRQDODVVHVVRULDDGPLQLVWUDWLYDHORJLVWLFD 2XWUDVLQIRUPDo}HV DVVHVVRUDGPLQLVWUDWLYRHORJLVWLFR 9tQFXORLQVWLWXFLRQDO 9tQFXOR&HOHWLVWDIRUPDO(QTXDGUDPHQWR)XQFLRQDO$QDOLVWDGH6LVWHPDV&DUJD KRUiULD5HJLPH'HGLFDomRH[FOXVLYD 3URGDEDUUD&RPHUFLRH6HUYLoRV/WGD352'$%$55$%UDVLO 9tQFXORLQVWLWXFLRQDO KWWSEXVFDWH[WXDOFQSTEUEXVFDWH[WXDOYLVXDOL]DFYGR"LG .< &XUUtFXORGR6LVWHPDGH&XUUtFXORV/DWWHV3DXOR5REHUWR/RQJKL $WXDO 9tQFXORDVVHVVRULDDGPLQLVWUDWLYD(QTXDGUDPHQWR)XQFLRQDODVVHVVRULDDGPLQLVWUDWLYD HORJLVWLFD 9tQFXORLQVWLWXFLRQDO 9tQFXOR&HOHWLVWDIRUPDO(QTXDGUDPHQWR)XQFLRQDO6RFLR*HUHQWH&DUJDKRUiULD 5HJLPH'HGLFDomRH[FOXVLYD )XQGDomR%DUUD%RQLWDGH(QVLQR)81%%(%UDVLO 9tQFXORLQVWLWXFLRQDO 9tQFXOR&HOHWLVWDIRUPDO(QTXDGUDPHQWR)XQFLRQDO3URIHVVRU&DUJDKRUiULD 2XWUDVLQIRUPDo}HV 0DWHULDVOHFLRQDGDV&RQWDELOLGDGHGH&XVWR(VWDWLVWLFD 3UHIHLWXUD0XQLFLSDOGH,JDUDoXGR7LHWH6335()(,785$%UDVLO 9tQFXORLQVWLWXFLRQDO 9tQFXOR&HOHWLVWDIRUPDO(QTXDGUDPHQWR)XQFLRQDO3URIHVVRU&DUJDKRUiULD 2XWUDVLQIRUPDo}HV 0DWHULDVOHFLRQDGDV&RQWDELOLGDGH,QGXVWULDOH$JULFROD&RQWDELOLGDGH&RPHUFLDO (OHPHQWRVGH&XVWR 8VLQDGD%DUUD6$$oXFDUH$OFRRO'$%$55$%UDVLO 9tQFXORLQVWLWXFLRQDO KWWSEXVFDWH[WXDOFQSTEUEXVFDWH[WXDOYLVXDOL]DFYGR"LG .< &XUUtFXORGR6LVWHPDGH&XUUtFXORV/DWWHV3DXOR5REHUWR/RQJKL 9tQFXOR&HOHWLVWDIRUPDO(QTXDGUDPHQWR)XQFLRQDO6XSHUYLVRUGH6LVWHPDVH0HWRGRV &DUJDKRUiULD5HJLPH'HGLFDomRH[FOXVLYD 3LUHOOL3QHXV3,5(//,31(86%UDVLO 9tQFXORLQVWLWXFLRQDO 9tQFXOR&HOHWLVWDIRUPDO(QTXDGUDPHQWR)XQFLRQDO$QDOLVWDGH6LVWHPDV6HQLRU&DUJD KRUiULD5HJLPH'HGLFDomRH[FOXVLYD &LDGH3URFHVVDPHQWRGH'DGRVGR(VWDGRGH6mR3DXOR352'(63 352'(63%UDVLO 9tQFXORLQVWLWXFLRQDO 9tQFXOR&HOHWLVWDIRUPDO(QTXDGUDPHQWR)XQFLRQDO$QDOLVWD6LVWHPDV3OHQR&DUJD KRUiULD5HJLPH'HGLFDomRH[FOXVLYD 6HUPD6HUYLoRVGH3URFHVVDPHQWRGH'DGRVGD8OWUDJD]6(50$ %UDVLO 9tQFXORLQVWLWXFLRQDO 9tQFXOR&HOHWLVWDIRUPDO(QTXDGUDPHQWR)XQFLRQDO$QDOLVWDGH6LVWHPDV&DUJD KRUiULD5HJLPH'HGLFDomRH[FOXVLYD &RPSDQKLD7HOHIRQLFDGD%RUGDGR&DPSR&7%&%UDVLO 9tQFXORLQVWLWXFLRQDO 9tQFXOR&HOHWLVWDIRUPDO(QTXDGUDPHQWR)XQFLRQDO$QDOLVWDGH6LVWHPDV&DUJD KRUiULD5HJLPH'HGLFDomRH[FOXVLYD 2XWUDVLQIRUPDo}HV KWWSEXVFDWH[WXDOFQSTEUEXVFDWH[WXDOYLVXDOL]DFYGR"LG .< &XUUtFXORGR6LVWHPDGH&XUUtFXORV/DWWHV3DXOR5REHUWR/RQJKL 2XWUDVLQIRUPDo}HV )XQoDRLQLFLDO$QDOLVWDGH2UJDQL]DomRH0HWRGRV6HQLRU &HQWUR3DXOD6RX]D)DFXOGDGH7HFQRORJLDGH-DKX)$7(&%UDVLO 9tQFXORLQVWLWXFLRQDO $WXDO 9tQFXOR&HOHWLVWDIRUPDO(QTXDGUDPHQWR)XQFLRQDO3URIHVVRU$VVLVWHQWH,&DUJD KRUiULD 2XWUDVLQIRUPDo}HV 0DWHULDVOHFLRQDGDV$GPLQLVWUDFDR,$GPLQLVWUDomRGH0DWHULDLV&RQWUROHGH4XDOLGDGH (VWXGRVGH7HPSRVH0RYLPHQWRV0pWRGRV4XDQWLWDWLYRV$SOLFDGRVj3URGXomR 7HFQRORJLDV$YDQoDGDVHP6LVWHPDVGH3URGXomR$OXQRRULHQWDGR1LOVRQ&pVDU3HUHLUD 3URMHWR4XDOLGDGHQRDWHQGLPHQWRDRXVXiULRGHVHUYLoRVS~EOLFRVHVWDGXDLV"(VWXGR GHFDVR)DWHF"-DKX$OXQRRULHQWDGR0DUFLR-RVHGH$QWRQLR"3URMHWR0XOWL0DVVLYH RQOLQH5ROH3OD\LQJ*DPH"$VSHFWRVSRVLWLYRVHQHJDWLYRVHQWUHVHXVMRJDGRUHV$OXQR RULHQWDGR)HUQDQGR$UULHOR0RODQ"3URMHWR&RPSDUDWLYRGHXVDELOLGDGHHQWUHVLVWHPDV :LQGRZVH*18/,186UHDOL]DGRDWUDYpVGHHQVDLRVGHLQWHUDomR$OXQRRULHQWDGR-RVH 5REHUWR0DQJLOL&DUQHLUR"3URMHWR'HWHUPLQDomRGHXPSDGUmRGHVHUYLoRVDSOLFDGRD HTXLSDPHQWRVGHLQIRUPiWLFD(VWXGRGHFDVRHPXPDHPSUHVDGHLQIRUPiWLFDGDFLGDGH GH-DKX$OXQRRULHQWDGR,XUL5RGULJR5DPSD]]R"3URMHWR$SOLFDomRGDDVVLQDWXUD GLJLWDOFHUWLILFDGDHPGRFXPHQWRVHOHWURQLFRV3DUWLFLSDomRQD%DQFD([DPLQDGRUD $OXQR$QGUH)HOLSHGH&DVWUR3URMHWR$PHOKRULDQRQtYHOGHVHUYLoRGHXPDDXWR PHFDQLFDDWUDYpVGDFXUYDDEF$OXQR'U\HOOH5HJLQD*DOGLQRGD6LOYD3URMHWR23&3DV IHUUDPHQWDVGH7,HDDQDOLVHGDSURGXWLYLGDGH(VWXGRGHFDVRGD1RYR$FDEDPHQWRV *UiILFRV$OXQR/HDQGUR'DQLHO&H]DUH3URMHWR,PSODQWDomRGHXPVLVWHPD(53" (VWXGRGHFDVR$OXQD/XFLD+HOHQD$ELOH3URMHWR$XGLWRULDGHVLVWHPDVGHLQIRUPDomR QRVHWRUVXFURDOFRROHLUR$OXQD(OOHQ+LJDVKLGD6LOYD0DUWLQV3URMHWR,7,/FRPR PHWRGRORJLDSDUDUHGXomRGHFXVWRVHPHOKRULDGRFRQWUROHGHUHFXUVRVGHWHFQRORJLDGD LQIRUPDomR7,$OXQR9LQLFLXVGR&DUPR0DUWLQV3URMHWR(VWXGRGHFXVWRVQD LPSODQWDomRGHXPPpWRGRGHLGHQWLILFDomRELRPpWULFD$OXQR)DELDQR&DPSRV0HLDGR 3URMHWR$QiOLVHGDUDVWUHDELOLGDGHERYLQDQR%UDVLOLPSOLFDo}HVQDLPSODQWDomRGR 6,6%29$OXQR$ODQ3HUHLUDGH6RX]D3URMHWR*('*HUHQFLDPHQWR(OHWU{QLFRGH 'RFXPHQWRV"&RQFHLWR7HFQR &HQWUR(VWDGXDOGH(GXFDomR7HFQROyJLFD3DXOD6RX]D&((7(36 %UDVLO 9tQFXORLQVWLWXFLRQDO 9tQFXOR&HOHWLVWDIRUPDO(QTXDGUDPHQWR)XQFLRQDO3URIHVVRU$VVLVWHQWH&DUJDKRUiULD 2XWUDVLQIRUPDo}HV )DWHF%RWXFDWX630DWHULDVOHFLRQDGDV7HRULD*HUDOGRV6LVWHPDVHGD,QIRUPDomR LPSODQWDomRGDGLVFLSOLQDGHD7HOHSURFHVVDPHQWRH5HGHVGH KWWSEXVFDWH[WXDOFQSTEUEXVFDWH[WXDOYLVXDOL]DFYGR"LG .< &XUUtFXORGR6LVWHPDGH&XUUtFXORV/DWWHV3DXOR5REHUWR/RQJKL LPSODQWDomRGDGLVFLSOLQDGHD7HOHSURFHVVDPHQWRH5HGHVGH &RPSXWDGRUHVLPSODQWDomRGDGLVFLSOLQDGHD$QiOLVHH3URMHWRGH 6LVWHPDVGH,QIRUPDomRLPSODQWDomRGDGLVFLSOLQDGHD$OXQR RULHQWDGR)HUQDQGR1XQHVGD6LOYD3URMHWR(VWXGRVREUHRSURMHWRGHLPSOHPHQWDomR GHVLVWHPDGHJHVWmR(533DUWLFLSDomRQD%DQFD([DPLQDGRUD$OXQR)HUQDQGR1XQHV GD6LOYD3URMHWR(VWXGRVREUHRSURMHWRGHLPSOHPHQWDomRGHVLVWHPDGHJHVWmR(53 $OXQR$QGHUVRQ5RJpULR%0DUTXHV3URMHWR$QiOLVHGRQtYHOGDWHFQRORJLDQDV HPSUHVDVGRUDPRLQGXVWULDOGH%RWXFDWX(VWDGRGH6mR3DXOR$OXQR,YDQ5REHUWR )RQWHV3URMHWR$SULPRUDQGRDJHVWmRODERUDWRULDOSRUPHLRGDDXWRPDWL]DomRGR VLVWHPDGHFROHWDGHGDGRV$OXQR)DELDQR%DVVROL'RQLGD3URMHWR6LVWHPDGHDSRLRj WRPDGDGHGHFLVmRDSOLFDGDDRDJURQHJyFLR$OXQR5RGULJR)UDQFRGH/LPD3URMHWR 6LPXODomRHSUHYLVmRQRFHQiULRHFRQ{PLFRILQDQFHLURXWLOL]DQGRVLVWHPDVGHDSRLRj GHFLVmR$OXQD9DQHVVDGH2OLYHLUD-RUJHWWR3URMHWR'HILQLo}HVHDSOLFDo}HVGR FRPHUFLRHOHWU{QLFR$OXQR)HUQDQGR$SDUHFLGR1RJXHLUD3URMHWR3ULQFLSDLVVLVWHPDVGH DXWRPDomRFRPHUFLDOXWLOL]DGRVHPVXSHUPHUFDGRV ,GLRPDV (VSDQKRO &RPSUHHQGH5D]RDYHOPHQWH)DOD5D]RDYHOPHQWH/r5D]RDYHOPHQWH(VFUHYH 5D]RDYHOPHQWH ,QJOrV &RPSUHHQGH5D]RDYHOPHQWH)DOD5D]RDYHOPHQWH/r5D]RDYHOPHQWH(VFUHYH 5D]RDYHOPHQWH 3URGXo}HV 3URGXomRELEOLRJUiILFD 2XWUDVSURGXo}HVELEOLRJUiILFDV /21*+,35HVWXGRGHFDVRGRSURFHVVRGHH[WUDFDRGHROHRGDPDGHLUDGH FDQGHLDQRVXOGHPLQDVJHUDLVFXULWLEDSUUHYLVWDIORUHVWDHQJHQKDULDLQGXVWULDO PDGHLUHLUD /21*+,356,67(0$63$5$0$18)$785$(',0(16,21$0(172'((67248(6 3$5$9(1&(5(0800(5&$'2*/2%$/,=$'2(&203(7,7,92VDRSDXORVSUHYLVWD IDWHFQRORJLFDDGPLQLVWUDFDRGHHPSUHVDV 'HPDLVWLSRVGHSURGXomRWpFQLFD /21*+,35(PSUHHQGHGRULVPR&XUVRGHFXUWDGXUDomR PLQLVWUDGR(VSHFLDOL]DomR KWWSEXVFDWH[WXDOFQSTEUEXVFDWH[WXDOYLVXDOL]DFYGR"LG .< &XUUtFXORGR6LVWHPDGH&XUUtFXORV/DWWHV3DXOR5REHUWR/RQJKL 3DWHQWHVHUHJLVWURV 3DWHQWH $&RQILUPDomRGRVWDWXVGHXPSHGLGRGHSDWHQWHVSRGHUiVHUVROLFLWDGDj'LUHWRULDGH 3DWHQWHV',53$SRUPHLRGHXPD&HUWLGmRGHDWRVUHODWLYRVDRVSURFHVVRV /21*+,353DXOR5REHUWR/RQJKLSDLQHLVPRGXODUHVSDUDHGLILFDomRGHSDUHGHV %UDVLO 3DWHQWH3ULYLOpJLRGH,QRYDomR1~PHURGRUHJLVWUR%5GDWDGH GHSyVLWRWtWXORSDLQHLVPRGXODUHVSDUDHGLILFDomRGHSDUHGHV,QVWLWXLomR GHUHJLVWUR,13,,QVWLWXWR1DFLRQDOGD3URSULHGDGH,QGXVWULDO,QVWLWXLomR}HV ILQDQFLDGRUDVSDUWLFXODU %DQFDV 3DUWLFLSDomRHPEDQFDVGHWUDEDOKRVGHFRQFOXVmR 0RQRJUDILDVGHFXUVRVGHDSHUIHLoRDPHQWRHVSHFLDOL]DomR /21*+,353DUWLFLSDomRHPEDQFDGHDGULDQRFHVDUYROSDWWRDLQWHOLJHQFLDGH QHJRFLRVDSOLFDGDDIXVRHVHDTXLVLFRHVHQWUHPDUFDV0RQRJUDILD $SHUIHLoRDPHQWR(VSHFLDOL]DomRHP&XUVRGH(VSHFLDOL]DomRHP,QWHOLJHQFLDGH 1HJRFLR&HQWUR3DXOD6RX]D)DFXOGDGH7HFQRORJLDGH-DKX 7UDEDOKRVGHFRQFOXVmRGHFXUVRGHJUDGXDomR *21&$/9(6*,/8&$60-/21*+,353DUWLFLSDomRHPEDQFDGHHGHUYDOMRVp GHDOPHLGDGLPHQVLRQDPHQWRGHIURWDGHFDPLQK}HVSDUDWUDQVSRUWHGHFDQDHPXPD XVLQDGHDo~FDUHiOFRRO7UDEDOKRGH&RQFOXVmRGH&XUVR*UDGXDomRHPFXUVR VXSHULRUGHWHFQRORJLDHPORJLVWLFD&HQWUR3DXOD6RX]D)DFXOGDGH7HFQRORJLDGH-DKX *21&$/9(6*,%(572/8&,($/21*+,353DUWLFLSDomRHPEDQFDGHMXOLDQD FRHOKRJLDQD]LHOXFLDQDFULVWLQDFRHOKRRHQGHUHoDPHQWRGHHVWRTXHHPXPDIDUPiFLDGH PDQLSXODomRQDFLGDGHGHEDUUDERQLWD7UDEDOKRGH&RQFOXVmRGH&XUVR *UDGXDomRHPFXUVRVXSHULRUGHWHFQRORJLDHPORJLVWLFD&HQWUR3DXOD6RX]D)DFXOGDGH 7HFQRORJLDGH-DKX )$/&$2$&5$PVFPDJDO\QSYURPDR/21*+,353DUWLFLSDomRHPEDQFDGH GLHJRWXULQLDLPSRUWkQFLDGRVLQGLFDGRUHVGHGHVHPSHQKRQDHILFLrQFLDGRVSURFHVVRV KWWSEXVFDWH[WXDOFQSTEUEXVFDWH[WXDOYLVXDOL]DFYGR"LG .< &XUUtFXORGR6LVWHPDGH&XUUtFXORV/DWWHV3DXOR5REHUWR/RQJKL (VWXGRGHFDVRXVLQDGHDo~FDUHiOFRRO7UDEDOKRGH&RQFOXVmRGH&XUVR *UDGXDomRHPFXUVRVXSHULRUGHWHFQRORJLDHPORJLVWLFD&HQWUR3DXOD6RX]D)DFXOGDGH 7HFQRORJLDGH-DKX 2&7$9,$12$/%/27$)'/21*+,353DUWLFLSDomRHPEDQFDGHDQDOXFLD RFWDYLDQRWUDQVSRUWHDHUHRQREUDVLOHVXDFUHVFHQWHGHPDQGD7UDEDOKRGH &RQFOXVmRGH&XUVR*UDGXDomRHPFXUVRVXSHULRUGHWHFQRORJLDHPORJLVWLFD&HQWUR 3DXOD6RX]D)DFXOGDGH7HFQRORJLDGH-DKX SUDGRUDIDHOVLOYD/21*+,353DUWLFLSDomRHPEDQFDGHUDIDHOVLOYDSUDGRORJtVWLFD UHYHUVDQDPDQXWHQomRDXWRPRWLYD7UDEDOKRGH&RQFOXVmRGH&XUVR*UDGXDomR HPFXUVRVXSHULRUGHWHFQRORJLDHPORJLVWLFD&HQWUR3DXOD6RX]D)DFXOGDGH7HFQRORJLD GH-DKX /21*+,353DUWLFLSDomRHPEDQFDGHGLHJRFKDFRQXWLOL]DomRGRVLVWHPDGRJRYHUQR SDUDFRPSUDQRSRGHUSXEOLFR7UDEDOKRGH&RQFOXVmRGH&XUVR*UDGXDomRHP &XUVR6XSHULRUGH7HFQRORJLDHP,QIRUPDWLFD&HQWUR3DXOD6RX]D)DFXOGDGH7HFQRORJLD GH-DKX /21*+,353DUWLFLSDomRHPEDQFDGHDQGUHIHOLSHGHFDVWURDPHOKRULDQRQLYHOGH VHUYLFRGHXPDDXWRPHFDQLFDDWUDYHVGDFXUYDDEF7UDEDOKRGH&RQFOXVmRGH &XUVR*UDGXDomRHPLQIRUPDWLFD&HQWUR(VWDGXDOGH(GXFDomR7HFQROyJLFD3DXOD 6RX]D /21*+,353DUWLFLSDomRHPEDQFDGH3DPHOD&ULVWLQD/LPDDXWRPDFDRLQGXVWULDOQD LQGXVWULDGHUHIULJHUDQWHV7UDEDOKRGH&RQFOXVmRGH&XUVR*UDGXDomRHP&XUVR 6XSHULRUGH7HFQRORJLDHP,QIRUPDWLFD&HQWUR3DXOD6RX]D)DFXOGDGH7HFQRORJLDGH -DKX /21*+,353DUWLFLSDomRHPEDQFDGHHYHUWRQOHDQGURVLOYHULRRVHUURVTXHSRGHP RFRUUHUQXPDH[SORVDRGHPDWHULDLVGHXP053HVXDVVROXFRHV&HQWUR(VWDGXDO GH(GXFDomR7HFQROyJLFD3DXOD6RX]D /21*+,353DUWLFLSDomRHPEDQFDGHGU\HOOHUHJLQDJDOGLQRGDVLOYDR3&3DV IHUUDPHQWDVGH7,HDDQDOLVHGDSURGXWLYLGDGH(VWXGRGHFDRGD1RYR$FDEDPHQWRV *UDILFRV7UDEDOKRGH&RQFOXVmRGH&XUVR*UDGXDomRHPLQIRUPDWLFD&HQWUR (VWDGXDOGH(GXFDomR7HFQROyJLFD3DXOD6RX]D /21*+,353DUWLFLSDomRHPEDQFDGHJOHGVRQGXDUWHSRVVDWLFULPHVYLUWXDLVWHFQLFDV GHDWDTXHHSURWHFDR7UDEDOKRGH&RQFOXVmRGH&XUVR*UDGXDomRHPLQIRUPDWLFD &HQWUR(VWDGXDOGH(GXFDomR7HFQROyJLFD3DXOD6RX]D KWWSEXVFDWH[WXDOFQSTEUEXVFDWH[WXDOYLVXDOL]DFYGR"LG .< &XUUtFXORGR6LVWHPDGH&XUUtFXORV/DWWHV3DXOR5REHUWR/RQJKL /21*+,353DUWLFLSDomRHPEDQFDGH1HOVRQ6LP}HV)LOKR6HJXUDQoD9LUWXDO"2XVR GHKRQH\SRWVFRPRSURWHomRGH7UDEDOKRGH&RQFOXVmRGH&XUVR*UDGXDomRHP LQIRUPDWLFD&HQWUR(VWDGXDOGH(GXFDomR7HFQROyJLFD3DXOD6RX]D (YHQWRV KWWSEXVFDWH[WXDOFQSTEUEXVFDWH[WXDOYLVXDOL]DFYGR"LG .< &XUUtFXORGR6LVWHPDGH&XUUtFXORV/DWWHV3DXOR5REHUWR/RQJKL 3DUWLFLSDomRHPHYHQWRVFRQJUHVVRVH[SRVLo}HVHIHLUDV ,,(QFRQWURGH(GXFDomRSDUD'LYHUVLGDGH,,(QFRQWURGH(GXFDomRSDUD'LYHUVLGDGH 6HPLQiULR ,(QFRQWURGH(GXFDomR$PELHQWDO,(QFRQWURGH(GXFDomR$PELHQWDO(QFRQWUR R&RQJUHVVRGH7HFQRORJLDGD)$7(&VS(GLILFDomRGHSDUHGHV)RUPDVPHWiOLFDV 6LPSyVLR ,(QFRQWURGD(GXFDomRSDUD'LYHUVLGDGH,(QFRQWURGD(GXFDomRSDUD'LYHUVLGDGH 2ILFLQD ,QWURGXomRDR'DWD0LQLQJ(VWDWtVWLFD'DWD0LQHU(QFRQWUR ZRUNVKRSGHGRFHQWHVSODQHMDPHQWRGHHQVLQR2ILFLQD &XUVRGH)HUUDPHQWDVGH4XDOLGDGHH66HPLQiULR ,,,(QFRQWURGH3ODQHMDPHQWR2UJDQL]DFLRQDOGD)$7(&-$+8(QFRQWURGH3ODQHMDPHQWR 2UJDQL]DFLRQDO6HPLQiULR FXUVRGHIRUPDFDRGHJHVWRUHVGH)DWHFWXUPD2ILFLQD ORJLVWLFDGHPDWHULDLVORJLVWLFDGHPDWHULDLV2ILFLQD ($'HQVLQRDGLVWDQFLD6HPLQiULR KWWSEXVFDWH[WXDOFQSTEUEXVFDWH[WXDOYLVXDOL]DFYGR"LG .< &XUUtFXORGR6LVWHPDGH&XUUtFXORV/DWWHV3DXOR5REHUWR/RQJKL 2ULHQWDo}HV 2ULHQWDo}HVHVXSHUYLV}HVFRQFOXtGDV 0RQRJUDILDGHFRQFOXVmRGHFXUVRGH DSHUIHLoRDPHQWRHVSHFLDOL]DomR )HUQDQGR$UULHOR0RODQ&RPDSDUDWLYRGHXVDELOLGDGHHQWUHVLVWHPDV:LQGRZVH *18/,186UHDOL]DGRDWUDYpVGHHQVDLRVGHLQWHUDomR0RQRJUDILD $SHUIHLoRDPHQWR(VSHFLDOL]DomRHPLQIRUPDWLFD&HQWUR(VWDGXDOGH(GXFDomR 7HFQROyJLFD3DXOD6RX]D2ULHQWDGRU3DXOR5REHUWR/RQJKL -RVH5REHUWR0DQJLOL&DUQHLUR'HWHUPLQDomRGHXPSDGUmRGHVHUYLoRVDSOLFDGRD HTXLSDPHQWRVGHLQIRUPiWLFD(VWXGRGHFDVRHPXPDHPSUHVDGHLQIRUPiWLFDGDFLGDGH GH-DKX0RQRJUDILD$SHUIHLoRDPHQWR(VSHFLDOL]DomRHPLQIRUPDWLFD&HQWUR (VWDGXDOGH(GXFDomR7HFQROyJLFD3DXOD6RX]D2ULHQWDGRU3DXOR5REHUWR/RQJKL 5RJHULR&DYHUVDQDXWRPDFDRGHSURFHVVRVDQDOLVHHFRQWUROHGHSKGRHIOXHQWH LQGXVWULDO0RQRJUDILD$SHUIHLoRDPHQWR(VSHFLDOL]DomRHP&XUVR6XSHULRUGH 7HFQRORJLDHP,QIRUPDWLFD&HQWUR3DXOD6RX]D)DFXOGDGH7HFQRORJLDGH-DKX 2ULHQWDGRU3DXOR5REHUWR/RQJKL MXOLDQHEHUQDUGRROLYDUGHVNWRSVYLUWXDLVFRPRUHGXWRUHVGHFXVWR0RQRJUDILD $SHUIHLoRDPHQWR(VSHFLDOL]DomRHP&XUVR6XSHULRUGH7HFQRORJLDHP,QIRUPDWLFD &HQWUR3DXOD6RX]D)DFXOGDGH7HFQRORJLDGH-DKX2ULHQWDGRU3DXOR5REHUWR/RQJKL UDIDHOJHULQVFDYDVVDFHUWLILFDFDRGLJLWDOFRPDVVLQDWXUDGLJLWDOQREUDVLO 0RQRJUDILD$SHUIHLoRDPHQWR(VSHFLDOL]DomRHP&XUVR6XSHULRUGH7HFQRORJLDHP ,QIRUPDWLFD&HQWUR3DXOD6RX]D)DFXOGDGH7HFQRORJLDGH-DKX2ULHQWDGRU3DXOR 5REHUWR/RQJKL 0DUFLR-RVHGH$QWRQLR0XOWL0DVVLYHRQOLQH5ROH3OD\LQJ*DPH"$VSHFWRVSRVLWLYRVH QHJDWLYRVHQWUHVHXVMRJDGRUHV0RQRJUDILD$SHUIHLoRDPHQWR(VSHFLDOL]DomRHP LQIRUPDWLFD&HQWUR(VWDGXDOGH(GXFDomR7HFQROyJLFD3DXOD6RX]D2ULHQWDGRU3DXOR 5REHUWR/RQJKL 1LOVRQ&pVDU3HUHLUD4XDOLGDGHQRDWHQGLPHQWRDRXVXiULRGHVHUYLoRVS~EOLFRVHVWDGXDLV "0RQRJUDILD$SHUIHLoRDPHQWR(VSHFLDOL]DomRHPLQIRUPDWLFD&HQWUR(VWDGXDO GH(GXFDomR7HFQROyJLFD3DXOD6RX]D2ULHQWDGRU3DXOR5REHUWR/RQJKL 7UDEDOKRGHFRQFOXVmRGHFXUVRGHJUDGXDomR KWWSEXVFDWH[WXDOFQSTEUEXVFDWH[WXDOYLVXDOL]DFYGR"LG .< &XUUtFXORGR6LVWHPDGH&XUUtFXORV/DWWHV3DXOR5REHUWR/RQJKL 7UDEDOKRGHFRQFOXVmRGHFXUVRGHJUDGXDomR MXOLDQDFRQWDGRUXWLOL]DomRGHIHUUDPHQWDVGHFRQWUROHGHSURGXomRHPXPDFRQIHFomR 7UDEDOKRGH&RQFOXVmRGH&XUVR*UDGXDomRHPFXUVRVXSHULRUGHWHFQRORJLDHP ORJLVWLFD&HQWUR3DXOD6RX]D)DFXOGDGH7HFQRORJLDGH-DKX2ULHQWDGRU3DXOR5REHUWR /RQJKL LXULURGULJRUDPSD]]R$SOLFDomRGDDVVLQDWXUDGLJLWDOFHUWLILFDGDHPGRFXPHQWRV HOHWURQLFRV7UDEDOKRGH&RQFOXVmRGH&XUVR*UDGXDomRHP&XUVR6XSHULRUGH 7HFQRORJLDHP,QIRUPDWLFD&HQWUR3DXOD6RX]D)DFXOGDGH7HFQRORJLDGH-DKX 2ULHQWDGRU3DXOR5REHUWR/RQJKL 3iJLQDJHUDGDSHOR6LVWHPD&XUUtFXOR/DWWHVHPjV KWWSEXVFDWH[WXDOFQSTEUEXVFDWH[WXDOYLVXDOL]DFYGR"LG .<