5HQRYiYHLV$/(5UHFRQKHFH&DER9HUGHFRPRXPGRVSDtVHVOXVyIRQRVPDLVDYDQoDGR 5(129È9(,6$/(55(&21+(&(&$%29(5'(&20280'263$Ë6(6/86Ï)2126 0$,6$9$1d$'2 'HWDLOV :ULWWHQE\2,QVWDODGRU &DWHJRU\1RWtFLDV 3XEOLVKHG2FWREHU $ $VVRFLDomR /XVyIRQD GH (QHUJLDV 5HQRYiYHLV $/(5 UHFRQKHFHX HVWD TXDUWDIHLUD TXH &DER 9HUGH p XP GRV SDtVHV GH OtQJXD SRUWXJXHVD PDLV DYDQoDGR HP WHUPRV GH HQHUJLDV UHQRYiYHLV H FRP DPELomR GH VHU DLQGD PDLV GHVHQYROYLGRQRVHFWRU 2,167$/$'25_4XLQWD)HLUDGH2XWXEURGH 4XHPRGL]pDDGPLQLVWUDGRUDH[HFXWLYDGD$/(5,VDEHOGH$EUHXGXUDQWHR³ZRUNVKRS´VREUH³2HQYROYLPHQWRGR VHFWRU SULYDGR GDV HQHUJLDV UHQRYiYHLV HP &DER 9HUGH RSRUWXQLGDGHV H GHVDILRV´ SURPRYLGR SHOD DVVRFLDomR SRUWXJXHVDHPSDUFHULDFRPD&kPDUDGH&RPpUFLR,QG~VWULDH6HUYLoRVGH6RWDYHQWR&&,66$LQLFLDWLYDGHFRUUHX QD&LGDGHGD3UDLD ©&DER9HUGHpPDLVGHVHQYROYLGRHPWHUPRVGHHQHUJLDVUHQRYiYHLVWHPDPELomRGHFKHJDUPDLVORQJHHWHPXP SODQRHSURJUDPDSDUDLPSOHPHQWDUHDOFDQoDURVVHXVREMHFWLYRVªDILUPRXDDGPLQLVWUDGRUDH[HFXWLYDGDDVVRFLDomR FULDGDHP'H]HPEURGHHTXHTXHUVHDJRUDLQVWDODUVHQRDUTXLSpODJR 6HJXQGR,VDEHOGH$EUHXFLWDGDSHOD,QIRUSUHVVD$/(5TXHULQVWDODUVHHP&DER9HUGHSRUTXHDPHVPDWHPFRPR PLVVmR D SURPRomR GDV HQHUJLDV UHQRYiYHLV QRV SDtVHV OXVyIRQRV H TXH FRPR WDO SUHWHQGH WHU XPD IXQomR GH ©IDFLOLWDGRUDª GH RSRUWXQLGDGHV GH QHJyFLR DWUDYpV GR DSRLR DR VHFWRU SULYDGR H DWUDFomR GH LQYHVWLPHQWR H ILQDQFLDPHQWR 'HVHPSHQKDU R SDSHO GH LQWHUORFXWRUD MXQWR GDV DXWRULGDGHV QDFLRQDLV H LQWHUQDFLRQDLV SDUD FULDU XP HQTXDGUDPHQWR UHJXODWyULRIDYRUiYHOSDUDRVHFWRUDVVLPFRPRFULDUXPDSODWDIRUPDGHFRRSHUDomRHFRQVWLWXLUXPDYR]FRPXPGDV HQHUJLDVUHQRYiYHLVQDOXVRIRQLDVmRRXWURVREMHFWLYRVGDRUJDQL]DomR GDWDWH[WKWPOFKDUVHW XWI&GLYFODVV'SDJHKHDGHUVW\OH'SDGGLQJERWWRP$S[%PDUJLQ$S[« 5HQRYiYHLV$/(5UHFRQKHFH&DER9HUGHFRPRXPGRVSDtVHVOXVyIRQRVPDLVDYDQoDGR (P &DER 9HUGH FRQIRUPH D UHVSRQViYHO D $/(5 LUi FDSDFLWDU DV HQWLGDGHV S~EOLFDV H SULYDGDV SDUWLOKDQGR LQIRUPDomR H H[SHULrQFLDV H SURFXUDQGR DWUDLU ILQDQFLDPHQWR H LQYHVWLPHQWR HP SURMHFWRV GH HQHUJLDV UHQRYiYHLV VHQGRTXHRVSUy[LPRVPHUFDGRVTXHTXHUFRQTXLVWDUVmRGH0RoDPELTXHH6mR7RPpH3UtQFLSHSDUDGHSRLVFKHJDU D$QJROD*XLQp%LVVDX*XLQp(TXDWRULDOH7LPRU/HVWH GDWDWH[WKWPOFKDUVHW XWI&GLYFODVV'SDJHKHDGHUVW\OH'SDGGLQJERWWRP$S[%PDUJLQ$S[«