2013-5ESTADO, VENGANZA Y JUSTICIA EN FRIEDRICH NIETZSCHE

METAPOLÍTICA

8R*"Z[;"9j/5"\Z;"&-%.("=">,9.*"R+(--%G%(="-;0$%&(&+(@"&+#(%-(+-+G+0$"(6+0+%-H6)>"( &+(-%(7;+#1%4(j+0+%-H6)>"(I;)+#+(&+>)#(&)7+#+0>)%-(?(6+0Z$)Q >"4(8%(="-;0$%&(&+(@"&+#(+*(+-(+-+G+0$"(&)7+#+0>)%-(&+(-%*( 7;+#1%*O(+*(&+>)#O(+-(+-+G+0$"(&+(@#"&;>>)H0(&+(-%(&)7+#+0>)%( &+(>%0$)&%&(+0$#+(&"*("(=%#)%*(7;+#1%*(*;@;+*$%*(+0(#+-%>)H04( 8%(="-;0$%&(&+(@"&+#(+*(+-(+-+G+0$"(6+0Z$)>"(&+(-%(7;+#1%O( +*(&+>)#(+-(+-+G+0$"(&+(@#"&;>>)H0(&+(-%(>;%-)&%&(I;+(@+#Q $+0+>+(%(>%&%(7;+#1%(+0(+*$%(#+-%>)H04(8%(="-;0$%&(&+(@"&+#( >"G"(@#)0>)@)"(0"(*;@#)G+(+-(%1%#O(%-(>"0$#%#)"O(-"()G@-)>%O( ?%(I;+(*)0(Z-(0"($+0&#/%(0)(@-%*$)>)&%&O(0)(G+$%G"#7"*)*4(K-( %1%#( @"0+( +0( #+-%>)H0( -%*( 7;+#1%*X( -%( ="-;0$%&( &+( @"&+#( +*( +-( @#)0>)@)"( &+$+#G)0%0$+( &+( +*$%( #+-%>)H04( 8%( ="-;0$%&( &+( @"&+#(*+(*;G%(0+>+*%#)%G+0$+(%(-%*(7;+#1%*O(@+#"(0"(@;+&+( *;G%#*+(G3*(I;+(%(7;+#1%*(@;+*$%*(+0(#+-%>)H0(@"#(+-(%1%#4( 8%(="-;0$%&(&+(@"&+#(>"G@#+0&+(%-(%1%#(+0(*;(>+0$#"O(*H-"( HOODHVFDSD]GHD¿UPDUWRGRHOD]DU'HOHX]H  !#"7+*"#( &+( %*)60%$;#%( +0( +-( 9+@%#$%G+0$"( &+( V"G;0)>%>)H0( ?( +0( +-( S+#=)>)"(&+@%#$%G+0$%-(&+-(9+@%#$%G+0$"(&+(V)+0>)%*(S">)%-+*(?(!"-/$)Q >%*(&+(-%(T0)=+#*)&%&(P:+#"%G+#)>%0%QV);&%&(&+(.ZE)>"4

`

#-)$('+F)&,$(NYX:(Z[8(KEFOJ(;(\LNOD(IG(]^[_

:=

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¿JXUDUXQOD]RSROtWLFR8Q(VWDGR

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aK*$%&"b'(?%(*+(+0$)+0&+(%(I;)Z0(G+( UH¿HURz;0%(R"#&%(>;%-I;)+#%(&+(#;:)"*(%0)G%-+*(&+(@#+*%O( ;0%( #%1%( &+( >"0I;)*$%&"#+*( ?( &+( *+,"#+*O( I;+( "#6%0)1%&"*( @%#%(-%(6;+##%O(?(&"$%&"*(&+(-%(7;+#1%(&+("#6%0)1%#O(>"-">%(*)0( +*>#J@;-"( %-6;0"( *;*( $+##):-+*( 1%#@%*( *":#+( ;0%( @":-%>)H0( $%-(=+1($#+G+0&%G+0$+(*;@+#)"#(+0(0JG+#"O(@+#"($"&%=/%()0Q 7"#G+O($"&%=/%(+##%:;0&%4(M*/(+*(>"G"O(+0(+7+>$"O(*+()0)>)%( +0( -%( $)+##%( +-( aK*$%&"b'( ?"( @)+0*"( I;+( %*/( I;+&%( #+7;$%&%( %I;+--%( 7%0$%*/%( I;+( -+( R%>/%( >"G+01%#( >"0( ;0( a>"0$#%$"b4( g;)+0(@;+&+(G%0&%#O(I;)+0(@"#(0%$;#%-+1%(+*(a*+,"#bO(I;)+0( %@%#+>+(&+*@H$)>"(+0(":#%*(?(6+*$"*(zvI;Z($)+0+(Z-(I;+(=+#( >"0(>"0$#%$"*w(Wo)+$1*>R+O(ABBA'(CCCY4

8%(7;0>)H0(&+-(K*$%&"(+*O(+0$"0>+*O(@#"G"=+#(;0(&+Q ##"$+#"(=)$%-(&"0&+(6#%>)%*(%(-%(#+-%>)H0(&+*)6;%-(+0Q $#+(&"G)0%0$+*(?(&"G)0%&"*(-%(*">)+&%&(@+#G)$%O(?%( >"0$#"-%&%(@"#(;0("#&+0(@"-/$)>"O(+-(&+*%##"--"(&+(;0%( >%*$%(7;+#$+O(=)#$;"*%(?(>#+%&"#%(*+6J0(;0("#&+0()H0(K*$%&"Q*">)+&%&(*;>+&+(+0( -%($+0*)H0(&+($#%0*7"#G%>)H0(@%#%(>"0*+6;)#(+-("#&+0( &+*)6;%-'(a!;+&+(I;+(+-()G@;-*"(&+(-%(*">)%:)-)&%&(+0( -"*()0&)=)&;"*(*+%($%0(7;+#$+(I;+(*H-"(-%($+0%1%(&+-(K*Q $%&"(":-)6;+(%(-%(6#%0(G%*%(%(I;+(%I;+--%(*+@%#%>)H0( I;/G)>%( &+( -%( *">)+&%&O( >"0( *;( 0;+=%( >"0*$#;>>)H0( @)#%G)&%-O( 5*0#$( I;+( #+%-)1%#*+b( Wo)+$1*>R+O( ABB_'( \mQ\\Y4(K*$+(@#">+*"(&+(&)*"-;>)H0(&+-(-%1"(*">)%-("O( @+0*+G"*(%I;/(&)>R"(-%1"(G3*(+0(+-(*+0$)&"(&+(-%1"( >"G;0)$%#)"(*+6J0(+-(%03-)*)*(&+(c":+#$"(K*@"*)$"(+0( Y-33+0,5$.(WABBDYO(%@%#+>+(>"G"(-%(7;0>)H0()0G;Q 0)$%#)%(&+-(K*$%&"(@%#%(+*$%:-+>+#(+-("#&+0(@"-/$)>"(?( -%(#+-%>)H0(>"0(+-(*":+#%0"("(-"*(*":+#%0"*O(+*(&+>)#O( -%(>-%*+(&"G)0%0$+(7#+0$+(%(-%(G%*%(&"G)0%&%(W+*>-%Q =%Y4(SH-"(;0(K*$%&"(%*/(@+#G)$)#3O(&+*&+(-%(@+#*@+>$)Q =%(0)+$1*>R+%0%O(;0(a@#"6#+*"b(=)$%-O(+*(&+>)#O(%>$)="( ?( "#)+0$%&"( %( -%( =)&%O( 0"( %-( 0)R)-)*G"( >"G"( *;>+&+( >"0(+-(-%1"(@"-/$)>"(+0(-%(G"&+#0)&%&4(K0(+*$+(*+0$)Q &"O(o)+$1*>R+O(+0(+-(%7"#)*G"(AeD(&+(D+3$0-M()*3$6 .,$)-(+'(aK-(+*$%&"(+*(;0%(%*$;$%()0*$)$;Q

>)H0(@%#%(-%(@#"$+>>)H0(&+(-"*()0&)=)&;"*(;0"*(>"0$#%( "$#"*'(*)(*+(+E%6+#%(*;(+00":-+>)G)+0$"O(%>%:%#3(@"#( &+:)-)$%#O(G3*(%J0O(@"#(&)*"-=+#(%-()0&)=)&;"O(+*(&+>)#( SRUIUXVWUDUGHODPDQHUDPiVUDGLFDOHO¿QRULJLQDQ #)"(&+-(K*$%&"b(Wo)+$1*>R+O(ABBF'(CDFY4(K0($Z#G)0"*( &+( -%( $+"#/%( @"-/$)>%( R"::+*)%0%( W2"::+*O( ABBeYO( +-( K*$%&"( *;#6+( @%#%( @#"$+6+#( %-( R"G:#+( &+( -%( "$#+&%&( )0G+&)%$%O( >;%-I;)+#( "$#"( R"G:#+O( *)+G@#+( *;( -":"4( 8%("$#+&%&(K*$%&"($#)%06;-%(-%(#+-%>)H0(+0$#+(-"*(*+#+*( R;G%0"*(@%#%(+=)$%#(*;(&+*$#;>>)H0(G;$;%4(V"0(8">Q n+(WABBDY(-%($#)%06;-%>)H0(+*()0$+#)"#)1%&%(%($#%=Z*(&+( -%(>);&%&%0/%O(@;+*(-%(#+-%>)H0(>"0(-%("$#+&%&(K*$%&"( &+#%>)%O(&"0&+(+-(&+#+>R"(&+( >);&%&%0/%()G@-)>%(-):+#$%&(+()6;%-&%&4 8%($#%0*)>)H0(&+*&+(-%(&+*)6;%-&%&(*">)+&%&QK*$%Q &"O(>"G"(-%1"(@"-/$)>"(?(*">)%-(#+*;-$%&"(&+(#+-%>)"Q 0+*(&+(7;+#1%O(-;>R%(?(>"07#"0$%>)H0(R%>)%(+-(%>;+#&"O( &"G)0%>)H0O( &)*"-;>)H0( ?( +-( @#">+*"( &+( %##%0>%#( +-( &+#+>R"(%(=+06%#*+(>"G"(#+-%>)H0(>"0$#%>$;%-()0)>)%O( @%#%(o)+$1*>R+O(>"0(-%(G;+#$+(&+(-%($#%6+&)%(WABBDYO( +;$%&%(@"#(K;#)@)&+*(?(SH>#%$+*(%-(*+0$%#(-%*(:%*+*( GHOSURFHVRFLYLOL]DWRULRTXHGH¿QHD2FFLGHQWH\OD G"&+#0)&%&(W-"(I;+(R+(--%G%&"(-%(>%&+0%(0)+$1*>R+%Q 0%O(=+#(."#+0"O(ABCBY4(o"(+E)*$+(;0(@%>$"("(%>;+#&"( +0$#+(-"*()0&)=)&;"*O(*)0"(-%()G@"*)>)H0(&+(;0("#&+0(?( -%(@"*$+#)"#(&)7;G)0%>)H0(&+-(+)>)"(&+(@"&+#(&+(-"*( 0":-+*(+0(;0%(#+-%>)H0(@"-/$)>%(+0$#+(>);&%&%0"*(>"0( &+#+>R"*()6;%-+*4(K-(>"0$#%$"(*">)%-(+*(*H-"(;0%(7"#G%( @%#%(&+>)#(+E@#"@)%>)H0(&+(&+#+>R"(%(#+-%>)"0%#*+(&)Q #+>$%G+0$+(>"0(+-("$#"(?(-%(7"#G%>)H0(&+(;0%(G+&)%Q >)H0( $+#>)%#)1%&%( @"#( +-( K*$%&"( I;+( )G@%#$+( )%4( 8%( )%( 0"( +*( a)"0%&%*(I;+(+0-%1%0(&+("$#%(G%0+#%(-%(>%->;-%:)Q -)&%&(&+(-"*(*;)H(+-(*+0$)&"(&+(-%(+I;)&%&( ?(-%()%O($)+0+(I;+(>"0$#%&+>)#*+(%(-"*(*">)%-)*$%*(>;%0&"( R%>+0(&+(-%()%(*;(@#)0>)@)"4(K0(+-(+*$%&"(0%$;#%-(0"(=%-+( -%(@#"@"*)>)H0(a-"(I;+(+*()#>;0*$%0>)%*O(-"(I;+(&+>)&+(+*(+-(@"&+#4( K0( -%( G+&)&%( +0( I;+( -"*( *">)%-)*$%*( I;)+#+0( -%( *;:=+#*)H0( $"$%-( &+( -%( *">)+&%&O( %@+-%0( %-( @"&+#4( SH-"( >;%0&"( -"*( #+Q @#+*+0$%0$+*( &+-( "#&+0( 7;$;#"( *+( +07#+0$%0( +0( -%( -;>R%( >"0( -"*( &+-( "#&+0( %0$)6;"( ?( %G:"*( @"&+#+*( *+( +0>;+0$#%0( >"0( ;0%(7;+#1%()6;%-("(*+G+R"*( R;G%0"*(Wo)+$1*>R+O(ABB_'(C_BQC_CY4

#-)$('+F)&,$(NYX:(Z[8(KEFOJ(;(\LNOD(IG(]^[_

:@

.-0$)-!//. -2+#(0H4%&()#&"$#(-"&$`$'"<

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o)+$1*>R+(+0(8$(#*0*$"-#'$()*("$(3-%$"(*+($+0*%:%(%( $#%=Z*( &+( -"*( >"0$#%$"*( 7#"0$%-+*( +0$#+( -%*( *;:)%(7;+#%O(R%>)%(+-("$#"O(&+"G"(7;+#%(-;6%#4(k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b(uu+-(G3*(%0$)6;"( +()06+0;"(>%0"0(G"#%-(&+(-%(I+.5,/,$O(+-(>"G)+01"(&+($"&%(a:"0Q &%&(&+(30)G"bO(&+($"&%(a+I;)&%&bO(&+($"&%(a:;+0%(="-;0$%&bO( &+( $"&%( a":"0(#+-%>)H0(%(-"*( G+0"*(@"&+#"*"*O(&+(1-%4$%(%(;0(>"G@#"G)*"(%(+*"*(R"G:#+*( *)$;%&"*(@"#(&+:%)H0(/0$)G%(@%#%( IRUMDUHOOD]RSROtWLFRSHURQRGH¿QHQHOOD]RVRFLDO 8%( )&+0$)&%&( +0$#+( -%1"( @"-/$)>"( ?( *">)%-( @#"@)%( &+( -%*( $+"#/%*( >"0$#%>$;%-)*$%*( +*( +>R%&%( @"#( $)+##%( @"#( o)+$1*>R+(0"(@"#(-%(%;*+0>)%(&+(0+>+*)&%&(&+()G@"Q *)>)H0(&+("#&+0O(*)0"O(@#+>)*%G+0$+O(@"#(+*$"O(@"#(-%( )G@"*)>)H0(&+(;0("#&+04(8%(&)=+#6+0>)%(+*$#):%(+0(-%( G%0+#%(>"G"(*+(&+*%##"--"(+-(*+0$)&"(&+(-"*(&+#+>R"*( )6;%-+*(@%#%($"&"*(-"*(@%#$)>)@%0$+*(&+(;0(K*$%&"4(K*Q $"*(&+#+>R"*(*;@"0+0(-%()6;%-&%&(&+(-"*()6;%-+*(?(+-( &+#+>R"(%(G%0&%#4(8"(I;+("7+0&+(%(o)+$1*>R+(0"(+*(+-( K*$%&"(&+G">#3$)>"("(-"*(&+#+>R"*(R;G%0"*O(*)0"(-%( &+*%>$)=%>)H0(&+(-%(="-;0$%&(=)$%-(&+(@"&+#O(-%(&+:)-)Q $%>)H0(&+-(2"G:#+(@"#(*/(G)*G"(G+&)%0$+(+-($#);07"( &+(-%*(=%-"#%>)"0+*(+*>-%=%*Q>#)*$)%0%*Q&+G">#3$)>%*' K-( )0&)=)&;"( 0"( *+( )6;%-%( +0( %:*$#%>$"O( *)0"( I;+( &+./$( $( .+.(,#+$"*.X(*":#+*%-+(+0$#+(-"*("$#"*()0&)=)&;"*4(9+-()0&)Q =)&;%-)*G"(*+(&+#)=%(-%(1-%3$/,?0()*(3,*3&%-.(2(?%#$0-.X( ODV WHQGHQFLDV D¿QHV VH XQHQ \ DFW~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¿UPD:HEHUHOOHJtWLPR DPRGHODYHQJDQ]D\OHGHV¿JXUDHOURVWURSDUDKDFHUOR G3*(R;G%0"(%(G+&)&%(I;+(-%()6;%-&%&(":-)6%(%()6;%-%#( )0>-;*"(%(I;)+0+*(*+(R%0(a&+*=)%&"b("(R%0("7+0&)&"(-%( &+;&%(>"0$#%/&%(+0(+-(-%1"(@"-/$)>"'()H0(&+-("0$#%( -%(=+06%01%(rst(+E)6)#(-%(#+0;0>)%(%(-%(=+06%01%(&+(*%06#+( >"G"(;0%(%;$"*;@#+*)H0(.+:*%,-%O(@"#(+*"(%$#):;?+(-%(,0I+%,$( %(I;)+0(*+(=+06%(rst(K-(K*$%&"(0"(I;)+#+(I;+(;0"(*+(@#"$+R+O(ABB_'(C^BQC^AY4

9%#( -%( *":+#%0/%( %-( K*$%&"( *;@"0+O( @"#( ;0( -%&"O( $#%0*7+#)#( -%( #+-%>)H0( *">)%-( &+( -"*( )6;%-+*( %( ;0%( #+Q -%>)H0(@"-/$)>%(>"0(-"*(&+*)6;%-+*(?(+0(-%(G+&)&%(I;+( +-(K*$%&"(?(-%(*">)+&%&(%;G+0$+0(+0(7;+#1%(?(@"&+#O( HO LQGLYLGXR HV VHSDUDGR GH OD MXVWLFLD FRQ HO ¿Q GH FRQVROLGDU XQ PDUFR OHJDO TXH GH¿QD ODV IRUPDV GH )G@%#$)>)H0(&+(-%()%(>)+6%(+()6;%-%&"#%(&+-("#&+0( @"-/$)>"4(!%#%(I;+(+-(K*$%&"(*+(%*)+0$+O(@#+>)*%(#+*$%#( VREHUDQtD D ORV QREOHV ¿QJLU VREHUDQtD D ORV SOHEHQ ?"*O(+*(&+>)#O(R;G%0)1%#*+4(K-(@#"6#+*"(>)=)-)1%$"#)"( $%G:)Z0(*+(G)&+(>"0(-%*()0$+0*)&%&+*(&+(-%(>#;+-&%&' K*$"(-"(R+G"*(&)>R"(>"G"(;0%(*;@"*)>)H0'(@;+*O(@#+*>)0Q &)+0&"(&+(I;+(#+*;-$%(@+0"*"O(+*(&)7/>)-(--+6%#(%(=+#(+-(7"0&"( &+($%-+*(>"*%*(*;:$+##30+%*X(?(I;)+0(%I;/()0$#"&;>+($"*>%Q G+0$+(+-(>"0>+@$"(&+(a=+06%01%bO(G3*(I;+(7%>)-)$%#*+(-%(=)Q *)H0O(*+(-%(R%(">;-$%&"(?("*>;#+>)&"(Wuu-%(=+06%01%(G)*G%O( +0(+7+>$"O(#+G)$+(>%:%-G+0$+(%-(G)*G"(@#":-+G%'(aq>HG"( @;+&+( *+#( ;0%( *%$)*7%>>)H0( +-( R%>+#( *;7#)#fbY4( c+@;60%O( G+(@%#+>+O(%(-%(&+-)>%&+1%(?(G3*(%J0(%(-%($%#$;7+#/%(&+(-"*( G%0*"*(%0)G%-+*(&"GZ*$)>"*(WI;)+#"(&+>)#O(&+(-"*(R"G:#+*( G"&+#0"*O(I;)+#"(&+>)#O(&+(0"*"$#"*Y(+-(#+@#+*+0$%#*+(>"0( $"&%( +0+#6/%( I;+( -%( /%+*")$)( >"0*$)$;?+( +0( %-$"( 6#%&"( -%( 6#%0(%-+6#/%(7+*$)=%(&+(-%(R;G%0)&%&(G3*(%0$)6;%O(+()0>-;*"( *+(R%--%(%,%&)&%(>"G"()06#+&)+0$+(%(>%*)($"&%*(*;*(%-+6#/%*X( N+#Q*;7#)#( @#"&;>+( :)+0+*$%#X( R%>+#u*;7#)#O( G3*( :)+0+*$%#( $"&%=/%( uuZ*$%( +*( ;0%( $+*)*( &;#%O( @+#"( +*( ;0( %E)"G%( %0Q $)6;"O( @"&+#"*"O( R;G%0"uu( &+G%*)%&"( R;G%0"O( I;+O( @"#( -"(&+G3*O(%>%*"(*;*>#):)#/%0(?%(-"*(G"0"*X(@;+*(*+(>;+0$%( I;+O( +0( -%( )0=+0>)H0( &+( +E$#%,%*( >#;+-&%&+*O( %0;0>)%0( ?%( +0(6#%0(G+&)&%(%-(R"G:#+(?O(@"#(%*/(&+>)#-"O(-"(a@#+-;&)%0b( Wo)+$1*>R+O(ABBA'(mDQm^Y4

N+06%#*+( +*( ":#%( ;0%( &+;&%( "( #+@%#%( ;0%(7%-$%(?(+=)$%(+-(7;$;#"($"#$;"*"(&+-(#+*+0$)G)+0$"4( 3HURXQ(VWDGRSUHFLVDGHIXWXURSUH¿HUHHYLWDUORV 6)#"*($#36)>"*(?(%>+0$%#*+(+0(-%(-/0+%(G%$)>%'(@#"Q 6#+*"O(7;$;#"ÜK*$%&"4(K0(o)+$1*>R+(-%(+07+#G+&%&(&+( ODPRGHUQLGDG HV TXH HVH SURJUHVR HV LQ¿QLWRHQVX -)0+%-)&%&O(*+(&)#)6+(%(-%(0%&%O(0)R)-)*G"(#+%>$)="4 K-("#)6+0(&+(-%()%(+0(o)+$1*>R+($)+0+(I;+(=+#( >"0( -"*( -/G)$+*( &+( -"( R;G%0"( ?( *;( ;G:#%-O( %I;+--"( I;+(-+(R%>+(-+6):-+(+-(-/G)$+(@%#%(*;(>"G@#+0*)H04(K0( +*$+(*+0$)&"O(-%()%O($%-(>"G"(-%(=+(+0(;"(-%,#*0( )*("$(5%$#*),$O(%@%#+>+(%R/(&"0&+(-"(R;G%0"(*+(*%:+( -)G)$%&"O(?%(*+%(R%>)%(*/("(R%>)%(-"(+E$+#0"O(-"(&)=)0"4( 8%("@"*)>)H0(+0$#+(K*I;)-"(?(SH7">-+*(#+*@+>$"(%(-"(

$#36)>"()G@-)>%(+*$%(&":-+(@"*):)-)&%&O(@+#"(*)+G@#+( FRPRXQDVXQWRREMHWLYRLQFOXVRHQORTXHVHUH¿HUH %(-%(>;-@%("(>;-@%:)-)&%&' K0( K*I;)-"( -%( 03;*+%( I;+&%( &)*;+-$%( +0( +-( $+##"#( *;:-)G+( 7#+0$+(%(-%(*%:)&;#/%(&+-("#&+0(&+-(G;0&"O(I;+(#+*;-$%(),1'/,"( &+(>"0">+#(&+:)&"(J0)>%G+0$+(%(-%(&+:)-)&%&(&+-(*+#(R;G%0"4( K0(SH7">-+*(+*+($+##"#(+*($"&%=/%(G3*(6#%0&+O(@;+*(%I;+--%( *%:)&;#/%(+*($"$%-G+0$+()0*"0&%:-+4(K*(+-(+*$%&"(&+(30)G"O( G3*(@;#"O(&+(-%(@)+&%&O(+0(+-(I;+(0"(R%?(-;>R%O(G)+0$#%*(I;+( +-(+*$%&"(&+(30)G"(+*I;)-+"($)+0+(>"0*$%0$+G+0$+(-%($%#+%(&+( MXVWL¿FDUODDGPLQLVWUDFLyQGHODMXVWLFLDSRUORVGLRVHV\SRU +--"( *+( &+$)+0+( *)+G@#+( %0$+( 0;+="*( @#":-+G%*4( K-( a-/G)$+( &+-( *+#( R;G%0"bO( I;+(M@"-"( "#&+0%( )0=+*$)6%#O( +*( >"60"*Q >):-+( @%#%( SH7">-+*O( @+#"( +*( G3*( +*$#+>R"( ?( #+*$#)06)&"( &+( -"(I;+(M@"-"("@)0%:%(+0(-%(Z@">%(@#+&)"0)*/%>%4(8%(7%-$%(&+( >"0">)G)+0$"(I;+(+-(*+#(R;G%0"($)+0+(%>+#>%(&+(*/(G)*G"( +*(+-(@#":-+G%(*"7">-+"O(-%(7%-$%(&+(>"0">)G)+0$"(I;+(+-(*+#( R;G%0"($)+0+(%>+#>%(&+(-"*(&)"*+*(+*(+-(@#":-+G%(+*I;)-+"( Wo)+$1*>R+O(ABBD'(A^eY4

8%()%(+*O(@;+*O(;0%()G@"*)>)H0O(-%(-+?(+*$3(7;+#%( &+-(*;"0(#+-%>)H0(%-(-/G)$+4(S)0(+GQ :%#6"O(?%(*+%(;0(-/G)$+(+*I;)-+"("(*"7">-+"O(-%()%( $)+0+( &;#+1%( ":R+O(ABBD'(\mY4

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b(Wo)+$1*>R+O(ABBA%'(eeY4(K-( q+0( I;Z( +*7+#%( R%( $+0)&"( *;( @%$#)%( R%*$%( %R"#%( +0( -%( $)+##%( @%*"(%(-%()%(*+6J0(-%(G"#%-(+*>-%=%()G@-)>%(-%( $"&"(+-($#%$%G)+0$"(&+-(&+#+>R"O(?($%G:)Z0(-%(%;$Z0$)>%(0+Q )0$+#)"#)&%&(&+-(@#">+*"O(-%(#+*@"0*%:)-)&%&()0*+@%Q >+*)&%&()G@+#)"*%(&+(&+#+>R"f(qM>%*"(+0(-%(+*7+#%(&+-(R"GQ #%:-+(&+-(%>$"O(;0(%>$"(&+7)0)&"(@"#(-%()0$+#)"#)&%&( :#+(#+%>$)="f(9+(0)06J0(G"&"'(%0$+*(:)+0O(+0(-%(+*7+#%(&+( WG%-&%&O(+07+#G+&%&O(@+#=+#*)&%&Y(&+-(*;$)="*O(7;+#$+*O(+*@"0$30+"*O(%6#+*)="*4(2)*$H#)>%G+0$+( +*(-%(>%;*%(&+-(%>$"' K*+(@+0*%G)+0$"(%R"#%($%0(>"##)+0$+(?(%@%#+0$+G+0$+($%0(0%Q $;#%-O($%0()0+=)$%:-+O(I;+(*+(R%($+0)&"(I;+(%&+-%0$%#(@%#%(+EQ @-)>%#(>HG"(--+6H(%(%@%#+>+#(+0(-%($)+##%(+-(*+0$)G)+0$"(&+(-%( )%O(a+-(#+"(G+#+>+(-%(@+0%(:-%7+*(R%:#/%(@"&)&"(%>$;%#( &+("$#"(G"&"bO(+*(&+(R+>R"(;0%(7"#G%(%->%01%&%(G;?($%#Q GtDPHQWHPiVD~QXQDIRUPDUH¿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k;*$)>)%( +*( ;0%( 7"#G%( *">)%-O( @"-/$)>%O( aR;G%0%bO( @%#%( %$+G@+Q #%#(-%(@"*):)-)&%&(&+(-%(=+06%01%O()0>-;*"(+-)G)0%#(+-( *+0$)G)+0$"(&+(@"&+#(=+06%#*+(@%#%()0*$%-%#(+0(+-()0Q $+#)"#(&+-(*;"(W+-(>);&%&%0"Y(-%(*+@%#%>)H0( +0$#+(@+#)"(?(&+:)&"(@#">+*"(@%#%(R%>+#()%4( 8%($#)%06;-%>)H0(R%>)%(+-(*":+#%0"(Wc+?O(@;+:-"O(*"Q >)+&%&("(K*$%&"Y(&+*@+#*"0%-)1%(%-(%$%>%0$+(?(+-)G)0%( -%(>;%-)&%&(&+(=/>$)G%(@%#%(>"0=+#$)#(%(-"*()G@-)>%&"*( +0(+-(@#">+&)G)+0$"(&+(-%()G@%#$)>)H0(&+()%4(8%( #-)$('+F)&,$(NYX:(Z[8(KEFOJ(;(\LNOD(IG(]^[_

?>

>"0*)&+#%&"O(+-(&+#+>R"(#+@#+*+0$%(+0(-%($)+##%(rst(-%(-;>R%( @#+>)*%G+0$+( /-05%$( -"*( *+0$)G)+0$"*( #+%>$)="*O( -%( 6;+##%( >"0$#%( Z*$"*( #+%-)1%&%( @"#( @"&+#+*( %>$)="*( ?( %6#+*)="*O( -"*( >;%-+*(+G@-+%:%0(@%#$+(&+(*;(7"#$%-+1%(+0()G@"0+#(7#+0"(?( G+&)&%(%-(&+*:"#&%G)+0$"(&+-(:$5$)="(?(+0(":-)6%#( @"#(-%(=)"-+0>)%(%(;0(>"G@#"G)*"4(K0($"&"*(-"*(-;6%#+*(&"0Q &+( *+( R%( +)&"( )%O( &"0&+( *+( R%( G%0$+0)&"( )%O( =+G"*( I;+( ;0( @"&+#( G3*( 7;+#$+( :;*>%( G+&)"*( @%#%( @"0+#( ¿QHQWUHJHQWHVPiVGpELOHVVLWXDGDVSRUGHEDMRGHpOELHQ *+($#%$+(&+(6#;@"*O(:)+0(*+($#%$+(&+()0&)=)&;"*YO(%-()0*+0*%$"( 7;#"#(&+-(#+*+0$)G)+0$"O(+0(@%#$+(I;)$30&"-+*(&+(-%*(G%0"*(&+( -%(=+06%01%(+-(":"-">%0&"( @"#( *;( @%#$+O( +0( -;6%#( &+( -%( =+06%01%O( -%( -;>R%( >"0$#%( -"*( +0+G)6"*(&+(-%(@%1(?(&+-("#&+0O(+0(@%#$+()0=+0$%0&"O(@#"@"Q 0)+0&"(?O(%(=+>+*O()G@"0)+0&"(%>;+#&"*O(+0(@%#$+(+-+=%0&"( %(-%(>%$+6"#/%(&+(0"#G%(>)+#$"*(+I;)=%-+0$+*(&+(&%,"*O(%(-"*( >;%-+*(I;+&%(#+G)$)&"(&+*&+(+*+(G"G+0$"O(&+(;0%(=+1(@"#( $"&%*O(+-(#+*+0$)G)+0$"(Wo)+$1*>R+O(ABBA'(\FY4

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kTSUPVPM

8%()%O(%-()6;%-(I;+(-%(&+;&%O(*;@"0+0(+-(>"0$#%$"( W+07#+0$%G)+0$"Y(+0$#+(I;)+0+*($)+0+0(+-(-+6/$)G"(a&+#+Q >R"b(@%#%(@#"G+$+#*+(+-(@%6"(?O(+*$"(+*(7;0&%G+0$%-O(+-( >":#"4(K0(8$(u*0*$"-#'$()*("$(3-%$"O(;"(>,$I*%-(2(.+( .-3&%$(?(!+%-%$O(o)+$1*>R+(&+-%#%(*;(>"0>+@>)H0(&+( )%(0":-+("($#36)>%'(%I;+--%(#+-%>)H0(+*$%:-+>)&%(>"0( ;0(>"G@#"G)*"(+0$#+(I;)+0+*($)+0+0(%@#"E)G%&%G+0$+( +-(G)*G"(@"&+#O(-%()6;%-&%&(+*$%G+0$%-(*;#6)&%(&+(-%*(#+Q -%>)"0+*(&+(7;+#1%(I;+(*+(+I;)-):#%0(+0(*;(+)>)"(@%#%( 7;0&%G+0$%#(-%(-)>)$;&(&+(>"0$#%$"*(?O(@"#($%0$"O(&+($"&"( &+#+>R"4(S)0(&;&%O(-"(I;+(o)+$1*>R+(@#":-+G%$)1%(>"0(

"4*%'#8(5"$+%$+(-%()%(?( -%(-+?f(K0($Z#G)0"*(&+(-%()6;%-&%&(-%(#+*@;+*$%(@;+&+( *+#'(%(0%&)+O(@"#(+0&+O(%($"&"*(?(I;)+0(-%(+;$%(+*(-%( 0%&%(7"#G%&%(@"#(-%*(=)0>;-%>)"0+*(7;0>)"0%-+*(?(*)*$ZQ G)>%*4(K-(%*;0$"(*":#+(-%(=%-"#%>)H0(%>$)=%(&+(-"(:;+0"( W-"(:;+0"(*+(=%-"#%(&+*&+(-"(:;+0"Y(7#+0$+(%(-%(@%*)=%( OREXHQRVHYDORUDGHVGHORPDOR HMHPSOL¿FDODVXEQ )H0(7;0>)"0%-(&+-(*;)%#( %(-%()%(@;#%(?(":+&+>+#(-%()%(-+6%-()G@%#$)&%( @"#(+-(K*$%&"O(+*(&+>)#O(+*$%()0$+#)"#)1%>)H0(&+(-%(=+0Q 6%01%(+0(7"#G%(&+(-"(I;+(o)+$1*>R+(--%G%(*.:'%,5+()*( "$(>*0#$04$O(+*(>+0$#%-(+0(-%()0$+#)"#)1%>)H0(&+-(0)=+-( SROtWLFR TXH KDFH OD]R PHGLDQWH OD ¿JXUD GHO FLXGDQ &%0"( W@+#*"0%( z+*$"( +0( *+0$)&"( -;RG%00)%0"z( I;+( $)+0+( &+#+>R"*( ?( ":-)6%>)"0+*Y4( S+6J0( +*$+( &+##"$+#"O( +-(=;+->"(z-%($#%0*=%-"#%>)H0z(*":#+(-%(G%0+#%(%>Q $)=%(&+(=%-"#%#O(&"0&+(+-(*+0$)&"(&+(:;+0"O(-%(:"0&%&O( -"(:"0&%&"*"O(>"0("#)+0$%>)H0(R%>)%(-%(%>$)=)&%&(W*+#( :;+0"(@%#%O(+*(&+>)#O($Z>0)>"(+0(>;%0$"(%(-%(>"0&)>)H0( 0":-+(?(6;+##+#%Y($%G:)Z0(*;7#+(;0(+7+>$"(+>"0HG)>"( R%>)%( -%( 7;0>)"0%-)&%&O( +*( &+>)#O( -%( )0$+#)"#)1%>)H0( &+( -%(+>"0"G/%(G+&)%0$+(+-(>);&%&%0"($#%:%);&%&%0"O(-%(Z$)>%(&+-($#%:%#3$)>%( Wo)+$1*>R+O( ABB_'( \_QCB_Y4( M*/O( +0( >"0$#%@"*)>)H0O( G%-"( +0( *+0$)&"( $Z>0)>"Q+>"Q 0HG)>"(=%(%($+0&+#(R%>)%(;0%(G%-+="-+0>)%O(*+#(G%-"(

@%#%(*+#()0&)60"O(">)"*"O(R"-6%1304(K0(+*$%($#%0*=%-"Q #%>)H0O( +0( @#)0>)@)"( "G"(G)+&"(%(-%(=+06%01%(@%$+#0%O(%-(7%0$%*G%(&+-(@%Q &#+( WK*@"*)$"O( ABBF'( FDQmAY( I;+( +-)G)0%( -%( =+06%01%( >"G"()%O(>"G"(%>>)H0(":%( #+%>>)H0O(-%(#+%>>)H0(&+(-%(%>>)H0O(?(I;+(*+(&+*I;)$%0( J0)>%G+0$+(>"0(;0%(=+06%01%()G%6)0%#)%b(Wo)+$1*>R+O( ABBA'(DBY4(K*(-%(=%-"#%>)H0(#+%>$)=%Q@%*)=%O(I;+(&)>+( 0"4(8%(=%-"#%>)H0(%>$)=%(&)>+(*/4(K-(#+*+0$)G)+0$"O(-%( =+06%01%(*)0(%>>)H0O(>"G"(#+%>>)H0O(>"G"(=+06%0Q 1%()G%6)0%#)%(W@+0*%#(+0(+-(&)*>;#*"(&+(-%(R)*$Z#)>%( *+6J0(8%>%0Y(&)>+(0"(?(%*/(>#+%(=%-"#+*(G"#%-+*(W&+Q #+>R"*( ?( ":-)6%>)"0+*Y4( 2"G:#+( &+-( #+*+0$)G)+0$"( >"0("&)"(=+0+0"*"(%-(0"(=+06%#*+(WR%>+#*+()%Y( *)0"(&++(#+*+0$)G)+0$"'(a+-(G)*G"(#+*+0$)G)+0$"( &+-(R"G:#+(0":-+O(>;%0&"(+0(Z-(%@%#+>+O(*+(>"0*;Q G%(?(%6"$%O(+0(+7+>$"O(+0(;0%(#+%>>)H0()0G+&)%$%(?O( @"#(+--"O(0"(*0>*0*0$b(Wo)+$1*>R+O(ABBA'(DAQDe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qg;Z(I;)+#+0(@#"@)%G+0$+f(W*:%*.*05$%(%-(G+0"*(-%()%O( >#%$+*(?(K;#/@)&+*(Wo)+$1*>R+O(ABBDYO(R%*$%(-%(G;+#$+( +-(%G"#O(-%(*%:)&;#/%O(-%(*;@+#)"#)&%&(uuv$%-(+*(-%(%G:)>)H0(&+( &+(9)"*(Wo)+$1*>R+O(ABBA:'(%7"#)*G"*(CBm(?(CADYO($"&"( HVRV³tQ¿PRV´GHHVRVHQIHUPRV£"0(+-(a@#"?+>$"b(W?(%I;/()H0w(rst(a*H-"(0"*"$#"*(*"G"*(-"*(:;+0"*O(-"*("0*$%0$+G+0$+(--+=%0( +0(*;(:">%(-%(@%-%:#%(a)%b(>"G"(;0%(:%:%(=+0+0"*%O(I;+( &%&(R%*$%(+-(+0&;#+>)G)+0$"(&+(;0%(R"#)1"0$%-)&%&(I;+( $)+0+0(*)+G@#+(-"*(-%:)"*(7#;0>)&"*(?(+*$30(*)+G@#+(&)*@;+*$"*( %$#%=)+*%(%-(*;+(>"0(:;+0(30)G"(@"#(*;(>%G)0"(rst(>;%0&"(-"Q 6#%*+0(,05%-)+/,%(*0("$(/-0/,*0/,$(&+(-"*(%7"#$;0%&"*(*;(@#"Q @)%(G)*+#)%O($"&%(G)*+#)%(+0(6+0+#%-'(&+($%-(G%0+#%(I;+(Z*$"*( +G@+1%*+0(;0(&/%(%(%=+#6"01%#*+(&+(*;(7+-)>)&%&(?(*+(&)$)=%Q@%*)=%G+0$+f(o"(@"&+#(=+06%#*+Q 0"(I;+#+#(=+06%#*+O($#%*-%&%#(-%()%(%(;0($+#>+#"( 9)"*QK*$%&"Q!%&#+( z+-( 0)R)-)*G"( +*( -%( :J*I;+&%( &+($#%*>+0&+0>)%O(+*(&+>)#O(>"0)H0(&+(-%(=)&%O( HQODFXOSDLQ¿QLWDODYLGDHWHUQD¢SRGUiLQYROXFUDU +-(@%6"(&+(-%(>;-@%("O(@"#(+-(>"0$#%#)"O(-%(>"0=)+#$+( +0(%-6"(+$+#0"f qLUcMS(STikKUPNP9M9KSf

8%(":*+#=%>)H0(0)+$1*>R+%0%(*":#+(-%(G"&+#0)&%&($#%$%( &+(-"*(G"=)G)+0$"*(I;+(#"G@)+#"0(+-(-%1"(*">)%-(?(@"Q -/$)>"($#36)>"Q%#)*$">#3$)>"(W*)+0&"(+-(K*$%&"(6#)+6"(;0%( &+*>#)@>)H0(>"0>+0$#%&%(*":#+(-%(7;0>)H0(&+(-%(@"-/$)>%( ?(+-(K*$%&"(@%#%(-%(*">)+&%&(*+6J0(o)+$1*>R+(rABB_t(?( 7"#"G+01%#"0(%(7"#)+&%&(G"&+#0%Y4(S;(6+0+%-"6/%(=%( #-)$('+F)&,$(NYX:(Z[8(KEFOJ(;(\LNOD(IG(]^[_

?:

9+*&+(+0$"0>+*O(-%(7;+#1%(#+%>$)=%(+*'(C4(7;+#1%(;$)-)$%#)%O( &+(%&%@$%>)H0(?(&+(-)G)$%>)H0(@%#>)%-X(A4(7;+#1%(I;+(*+@%#%( -%(7;+#1%(%>$)=%(&+(-"(I;+(Z*$%(@;+&+O(I;+(0)+6%(-%(7;+#1%( %>$)=%( W$#);07"( &+( -"*( &Z:)-+*( "( &+( -"*( +*>-%="*YX( e4( 7;+#Q 1%( *+@%#%&%( &+( -"( I;+( @;+&+O( I;+( *+( 0)+6%( %( */( G)*G%( "( *+( =;+-=+( >"0$#%( */( G)*G%( W#+)0"( &+( -"*( &Z:)-+*( "( &+( -"*( +*>-%="*Y4([O( @%#%-+-%G+0$+O( -%( 7;+#1%( %>$)=%( +*'( -4( 7;+#1%( @-3*$)>%O(&"G)0%#$+(?(*;:?;6%0$+X(A4(7;+#1%(I;+(=%(R%*$%(+-( ¿QDOGHORTXHSXHGHIXHU]DTXHD¿UPDVXGLIHUHQFLD TXH KDFH GH VX GLIHUHQFLD XQ REMHWR GH SODFHU \ GH D¿UQ G%>)H04(8%*(7;+#1%*(*H-"(+*$%#30(&+$+#G)0%&%*(>"0>#+$%(?( >"G@-+$%G+0$+(*)(*+($)+0+0(+0(>;+0$%(+*$%*($#+*(@%#+%#%>$+#+*(%(-%(=+1(W9+-+;1+O(ABBA'(m\Y4

5#+0$+( %( -%( +E@#"@)%>)H0( &+( -%( =+06%01%( ?( *;( >"0*+Q >;+0$+( )0$+#)"#)1%>)H0( W+*@/#)$;( &+( =+06%01%O( *)+G@#+( )0$+#)"#( ?( *)+G@#+( >"0$#%( */( G)*G"YO( *+( "@"0+( ;0%( #+*)*$+0>)%( @#"&;>$)=%Q>#+%$)=%Q%>$)=%( )0G"#%-O( ;0%( ;*;#@%>)H0(&+(-%(-+?(?(-%()%(G+&)%0$+(-%()0)%4(8%(#+*)*$+0>)%(>#+%$)=%(@;+&+O(+0$"0>+*O(@#+7+#)#(+-( &)3-"6"O(-%(>"0+E)H0("(R%>+#*+(G3*(>#+%$)=%'()0=+0$%#( YLROHQFLDVPiVWHUULEOHVKDFHUGHOFRQWUDÀXMRDOJRPiV +E@-"*)="O(+E@-"*)"0+*(+0(-%*(;0)"0+*(&+(-%*(-/0+%*(&+( -%(#+&O(-%(G;+#$+(*+(>"0=)+#$+(+0(+-(+-+G+0$"(>#+%$)="( @"#(%0$"0"G%*)%4(S;#6+(%R/(;0(@#">+*"(&+()0*;##+>>)H0( WI;+(0"(#+="-;>)H0Y4(8%(#+*)*$+0>)%(>#+%$)=%(+*(%>$)=%4( K*$%($%;$"-"6/%(W>#+%$)=%Q%>$)=%Y(*+(&+*&":-%(+0(-%()0Q *;##+>>)H04(K0(#+*@"0&+#(-"*(6#)$"*(%R"6%&"*(&+($+##"#( KLSyFULWDFRQJULWRVYHQJDWLYRV9LVLELOLGDG&RQWUDÀXQ )+0>)%Y( 0"( +*( ;0( %>$"( )+#"( "( 0"( :;*>%( -%( )%O( *)0"( -%( =+0Q 6%01%4(K0($%-(*+0$)&"(+*(%0$)*">)%-4(8"(+*(+0(-%(G+&)&%( I;+(-%(*">)+&%&O(*)6;)+0&"(+-(G"&+-"()0G;0)1%&"#(&+( -%(>"0*$)$;>)H0(&+-("#&+0(*">)%-O(+E@#"@)%(-%(=+06%01%( &+(-"*(*;#+%#(+-( *)*$+G%(&+(&+#+>R"O(-"(I;+(@+#G)$+(+-("#&+0O(-%*(#+-%Q FLRQHV VRFLDOHV SDFt¿FDV 6LJXLHQGR D 1LHW]VFKH ³OD

"4*%'#8(5"$+%$)%X(Z*$%(>"0$)0J%(*)+0&"O(>"G"( ?%(*+(+0$)+0&+(&+(*;?"O(+-(@#)=)-+6)"(&+-(G3*(@"&+#"*"O( G+R+X(ABBA'( \_Q\DYO(+-(&+*@#+>)"(@"#(;0%()%()0*$)$;>)"0%-O(*"Q EUHFRGL¿FDGDKDFHGHODYHQJDQ]DMXVWLFLDDUFDtVPR &+( -%( =+06%01%O( ;0( &+*@#+0&)G)+0$"( &+( -%( *">)+&%&( @%#%(%>>+&+#(%(#+-%>)"0+*(&+(@"&+#(>"G;0)$%#)%*O(*;:Q )"0+*(>R">%0$+*O(+0-%1%&%*O(+07#+0$%&%*4 S":#+(-%(%;$"Q*;@#+*)H0(&+(-%()%(&+:)&"(%-(%>#+Q >+0$%G)+0$"(&+-(@"&+#(&+(;0%(*">)+&%&O(-%(%#$)>;-%>)H0( &+(;0%(&)7+#+0>)%(+>"0HG)>%(I;+(#+@+#>;$+(+0(;0%("#Q 6%0)1%>)H0(@"-/$)>%(&"0&+(+-(@#+>)"(&+(+;$%#(-%(=+0Q 6%01%($"#0%(%0/G)>%G+0$+(&+G%*)%&"(:%"0( >-%#)&%&( -%( >#+%>)H0( &+( ;0( -%1"( @"-/$)>"~ *">)%-(&+(;0%(>"G;0)&%&("(*">)+&%&(>"0*$)$;)&%(@"#()0Q GLYLGXRVPDVL¿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¿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a%>#++&"#b(*+(R%(=;+-$"(*)+G@#+(G3*(R;G%0"(+0(-%(G+&)&%( HQ TXH PiV VH KD HQULTXHFLGR DO ¿QDO LQFOXVR OD PHGLGD &+(*;(#)I;+1%(=)+0+(&%&%(@"#(-%(>%0$)&%&(&+(@+#)"*(I;+( @;+&+( *"@"#$%#( *)0( @%&+>+#( @"#( +--"4( o"( *+#/%( )G@+0*%:-+( ;0%(/-0/,*0/,$()*(:-)*%(&+(-%(*">)+&%&(+0(-%(I;+(%(Z*$%(-+(

7;+*+(-/>)$"(@+#G)$)#*+(+-(-;+*O( I;+(=)=%0(?(I;+(@#"*@+#+0'(v*"?($"&%=/%(:%*$%0$+(7;+#$+(@%#%( +--"w444b(Wo)+$1*>R+O(ABBA'(\_Y4

M=+#6"01%#*+( &+( -"*( @#"@)"*( )0*$)0$"*( ?( >;-@%#*+( @"#( *+0$)#-"*()0=">%(%-("G"(=+0Q 6%01%(?(6;+##%O(+-(@#"@)"(?"(=+#&%&+#%G+0$+(@#"@)+$%#)"( &+-(>;+#@"(*+0*):-+(I;+(*+(&+*&):;>)H0(*">)%-( ?( @"-/$)>%( @%#%( )0&)=)&;%-)1%#*+( +0( ;0%( G%*%( #+%>$)=%( &"0&+(>%&%(*;-;*"(*+(@;+&+(@+0*%#(+*$"( >"G"( -%( @+#*"0%( &+( 8;RG%004( K*$+( $Z#G)0"( *+( >+0$#%( +0(+-(*+0$)&"("#)6)0%#)"(&+(aG3*>%#%b(>"0(+7+>$"*(@;#%Q G+0$+(>"G;0)>%$)="*O(@+#*"0%Q>"G;0)>%0$+(>"G"(@#"Q >+*"(&+(-%(>"G;0)>%>)H0O(+0$)&%&+*(+*$%:-+*(W8;RG%00O( C\\mY4(8%(+E@#"@)%>)H0(&+(-%(=+06%01%(6+0+#%(+-(+*@/#)$;( &+(=+06%01%O(+-(+0*%,%G)+0$"(&+-(*;)@%#(+0(;0%(*">)+&%&4 MR"#%(:)+0O(+0(-%(#+-%>)H0(>"0$#%>$;%-(*+(&%(+-(@#)Q G+#(+07#+0$%G)+0$"(+0$#+(-%(@+#*"0%(?(-%(@+#*"0%(&"0Q &+(*+(aG)&)+#"0(+0$#+(*/b(Wo)+$1*>R+O(ABBA'(\CY(?(+-( >"0$#%$"($%G:)Z0(*+(+*$%:-+>+(>"0(;0%(>"G;0)&%&(?( *+(>":#%()6;%-4(!+#"(>;%0&"(Z*$%(%;G+0$%(+0(@"&+#O(+-( @#)0>)@)"(&+(I;+($"&"(+*(@%6%:-+(*+(=%(%$+G@+#%0&"( Wo)+$1*>R+O(ABBA'(\_Q\DO(\mQ\\Y4(K0$"0>+*O(-%(@+0%O(+-( &+#+>R"O(-%()%(?(-%(-+?(*+(>"0*$#;?+0(+0(+-(G%#>"( &+(-%(G+G"#)%O(-%(>%@%>)&%&(&+(@#"G+$+#(?(+-(>"0$#%$"( &+(;0%(&+;&%(I;+(@;+&+O(?(+*+(+*(+-(@;0$"O(@;+&+(*+#( @%6%&%4( K-( &+#+>R"( 0"( +*( *":+#%0"( 0)( 6+0+#%-( W%:*Q $#%>$"O(&+*>+0$#%&"O(*)0(@#+*+0>)%Y(@;+*(>;%0&"(+*(%*/( 0"(+*$3(@+0*%&"(>"G"(;0(G+&)"(+0(-%(-;>R%(&+(>"GQ @-+%Q &+0%( @+0%Q&+#+>R"Q)%Q-+?~G+G"#)%Q>%@%>)&%&( &+(@#"G+$+#Q>"0$#%$"(&+(;0%(&+;&%QI;+(@;+&+(*+#(@%Q 6%&%4(o"(*+(R%>/%(;0(>;-@%:-+O(0"(*+(>%*$)6%:%(%(;0(>;-Q @%:-+O(*+(@+0%:%(%(;0(%;$"#(&+(&%,"*(Wo)+$1*>R+O(ABBA'( CBFY4(8%(@+0%(&"G+*$)>%(%-(R"G:#+4(8"(R%>+(>%->;-%Q :-+(%(@%#$)#(&+(-%(>"0$#%$%>)H0(&+(;0%(&+;&%O(+-(+0-%1%Q G)+0$"(%(@%#$)#(&+(-%(&+;&%4(K0(>"0$#%*$+O(>"G"()0&)>%( 5";>%;-$(WABBCYO(-%(*%0>)H0(0"#G%-)1%O(G"=)G)+0$"(&+( )0$+#)"#)1%>)H0(&+(-%(@+0%'("#)6+0(&+(-%(G%-%(>"0>)+0Q >)%( Wo)+$1*>R+O( ABBA'( CBmQCCBYO( -%( %@%#)>)H0( &+( ;0%( "#6%0)1%>)H0(+*$%$%-C((@%#%(7;0&%#(-%(*">)+&%&(?(-%(@%1( C

M(-%(G%0+#%(&+(V-%*$#+*(WC\FmY4

#-)$('+F)&,$(NYX:(Z[8(KEFOJ(;(\LNOD(IG(]^[_

??

.-0$)-!//. -2+#(0H4%&()#&"$#(-"&$`$'"<

W>;-$;#%Q>)=)-)1%>)H0YO(-%(*":+#%0/%(+0(7H#G;-%(2"::+*4( 9"G)0%>)H0( &+( -"*( )0*$)0$"*4( U"&"*( -"*( )0*$)0$"*( I;+( 0"(*+(&+*%R"6%0(R%>)%(7;+#%(*+(=;+-=+0(R%>)%(&+0$#"'(-%( )0$+#)"#)1%>)H0(&+-(R"G:#+'(+-(%-G%4(K-(*;7#)G)+0$"(&+-( R"G:#+O( @"#( */( G)*G"4( 9+-( -%1"Q&+Q&+;&%( >"G"( 7"#Q G%>)H0(&+(*;)H0(&+(-"(*">)%-(%(@%#$)#( &+(&+*=)0>;-%>)"0+*4(8%(>"0)H0()0G;0)$%#)%(&+(-%( >"G;0)&%&(WK*@"*)$"O(ABBDY'( rst( +*$%*( 0">)"0+*( &+( 0%$;#%-+1%( R;G%0%O( &+( )%O( &+( #+%-)1%>)H0( &+( -%( +*+0>)%( R;G%0%O( *"0( 0">)"0+*( ?( >"0>+@Q $"*( I;+( *+( 7"#G%#"0( +0( +-( )0$+#)"#( &+( 0;+*$#%( >)=)-)1%>)H0O( +0(+-()0$+#)"#(&+(0;+*$#"($)@"(&+(*%:+#(?(&+(0;+*$#"(G"&"(&+( ¿ORVRIDU \ TXH HQ FRQVHFXHQFLD IRUPDQ SDUWH GH QXHVWUR *)*$+G%( &+( >-%*+*O( ?( I;+( 0"( @"&+G"*O( @"#( $%0$"O( @"#( G;?( -%G+0$%:-+(I;+(+*$"(#+*;-$+O(*+#=)#0"*(&+(+*$%*(0">)"0+*(@%#%( GHVFULELURMXVWL¿FDUXQFRPEDWHTXHGHEHUtDzI;+(&+:+(+0( @#)0>)@)"z(&%#(-%(=;+-$%(>"G@-+$%G+0$+(%(-"*(7;0&%G+0$"*( G)*G"*(&+(0;+*$#%(*">)+&%&(W5";>%;-$O(C\\\'(\^Y4

!"#("$#"(-%&"(?(&%&"(I;+(+0(a0;+*$#%(>)=)-)1%>)H0b(>%Q @)$%-)*$%(W0%&%(+*$%#/%(7;+#%O(0"(R%?(+*@%>)"(*)0(G%#>%#YO( G3*(I;+(&%#(-%(=;+-$%(%(-"*(7;0&%G+0$"*(&+(0;+*$#%(*"Q FLHGDGODVLWXDFLyQVHUtDLUDODFRQWUDDFRQWUDÀXMR%*6 >-"/$0)-(-"*(7;0&%G+0$"*(>"0>+@$;%-+*(&+(-%()%(%-( %@#"@)%#*+(&+(-%(=+06%01%4(.+(@%#+>+(J$)-(@+0*%#(+*$"(&+( -%(G%0"(&+(o)+$1*>R+O(>;%0&"(@"0+(*":#+(-%(G+*%(I;+( -%(=+06%01%(%->%01%(#%06"(=)#$;"*"(>;%0&"(*+(-+(&%(a+-( 0"G:#+(&+()%(z>"G"(*)(-%()%(7;+#%(*H-"O(+0( +-(7"0&"O(;0(&+*%##"--"(;-$+#)"#(&+-(*+0$)G)+0$"(&+(+*$%#( "7+0&)&"y(?(&+(#+R%:)-)$%#(*;@-+G+0$%#)%G+0$+O(>"0(-%( =+06%01%O(%(-"*(%7+>$"*(#+%>$)="*(+0(6+0+#%-(?(+0(*;($"Q $%-)&%&b( Wo)+$1*>R+O( ABBA'( \DY4( 9)7+#)#( -%( =+06%01%O( +-( %>$"(>)=)-)1%$"#)"(@"#(%0$"0"G%*)%O(-%(+E@#"@)%>)H0(&+(-%( =+06%01%(%($#%=Z*(&+(-%(-+?(I;+(R%>+()%4(S+(%##%0>%( %-(*;+#*+()%( >;%0&"(;0(-%1"Q&+Q>;-@%(&+*=)0>;-%(@%#%("#&+0%#(+-(+*Q @%>)"( +*$#)%&"( &+( -%( *">)+&%&( G"&+#0%4( 8%( =+06%01%O( >"G"()%(%0$)6;%O(+*(@#+##"6%$)=%(&+-(aR"G:#+(%>Q $)="O(+-(R"G:#+(%6#+*)="O(%*%-$%&"#O(r@;+*t(+*$3(*)+G@#+( >)+0(@%*"*(G3*(>+#>%(&+(-%()%(I;+(+-(R"G:#+(#+%>Q $)="X(>%:%-G+0$+(Z-(0"(0+>+*)$%(+0(G"&"(%-6;0"($%*%#(*;( ":$)="b( Wo)+$1*>R+O( ABBA'( \^YO( *+(%##"6%(-%()%O(-%(=+06%01%O(0"(-%($#)%06;-%(@"#(+-( &+#+>R"O(0"(*+(+0=+0+0%O(0"()0$+#)"#)1%(-%(=+06%01%(+0( 7"#G%(&+(-+?O(0"(+*(>;-@%:-+O(*+(+0-%1%(+E$+#)"#)130&"*+( %-(++#(-%()%O(.+(I+.5,/,$4(8%(R)*$"#)%(&+(o)+$1*>R+O( -%( >%&+0%( SH>#%$+*Q#+%0&"( %-( *;;-%&"(&+(-"*("$#"*(&+)"(&+-(@"&+#(*":+#%0"Y(#+%-)1%#(-%()%O( #;G)%0&"(-%()0)%(&+(-%(+E@#"@)%>)H0(@%#%(>"0=+0Q >+#*+(&+(;0(@+>%&"("#)6)0%-(I;+(-"(R%>+(>;-@%:-+(&+*&+( *)+G@#+(?(@%#%(*)+G@#+O(%:*"-;$%G+0$+(>;-@%:-+4 2)*$H#)>%G+0$+(>"0*)&+#%&"O(+-(&+#+>R"(#+@#+*+0$%(+0(-%($)+##%( rst(-%(-;>R%(@#+>)*%G+0$+(>"0$#%(-"*(*+0$)G)+0$"*(#+%>$)="*O(-%( 6;+##%(>"0$#%(+*$"*(#+%-)1%&%(@"#(@"&+#+*(%>$)="*(?(%6#+*)="*O( -"*(>;%-+*(+G@-+%:%0(@%#$+(&+(*;(7"#$%-+1%(+0()G@"0+#(7#+0"(?( G+&)&%(%-(&+*:"#&%G)+0$"(&+-(@%$R"*(#+%>$)="(?(+0(":-)6%#(@"#( -%(=)"-+0>)%(%(;0(>"G@#"G)*"4(K0($"&"*(-"*(-;6%#+*(&"0&+(*+(R%( +)&"()%O(&"0&+(*+(R%(G%0$+0)&"()%O(=+G"*(I;+(;0( SRGHUPiVIXHUWHEXVFDPHGLRVSDUDSRQHU¿QHQWUHJHQWHVPiV &Z:)-+*O(*)$;%&%*(@"#(&+:%;%-+*(I;+&%(#+G)$)&"(&+*&+(+*+(G"G+0Q $"O(&+(;0%(=+1(@"#($"&%*O(+-(#+*+0$)G)+0$"4(!+#"(-"(&+>)*)="O(-"( I;+(-%(@"$+*$%&(*;@#+G%(R%>+(+()G@"0+(>"0$#%(-%(@#+@"$+0>)%( &+(-"*(*+0$)G)+0$"*(>"0$#%#)"*(+()G)$%$)="*(z-"(R%>+(*)+G@#+O( WDQSURQWRFRPRWLHQHGHDOJXQDPDQHUDIXHU]DVX¿FLHQWHSDUD +--"z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z'(%(@%#$)#(&+(%R"#%(+-(";##+O(>"G"( ?%( R+G"*( ":*+#=%&"YO( *+( +)$%( +0( --+6%#( %( ;0%( %@#+>)%>)H0( >%&%(=+1(G3*()G@+#*"0%-(&+(-%(%>>)H04(z9+(%>;+#&"(>"0(+*$"O( *H-"(%(@%#$)#(&+-(+*$%:-+>)G)+0$"(&+(-%(-+?(+E)*$+0(-"(a)H0( &+( -%( =+06%01%4( K-( K*$%Q &"O(+*%(G3I;)0%()0G;0)$%#)%(>"0$#%(-%(>"G;0)&%&O(*+( %&%(-%(@"*):)-)&%&(&+(=+06%#(+-)G)0%0&"(-%(=+0Q 6%01%O(>#+%0&"(;0(a&+#+>R"b(%(-%()%(I;+(&+*&)Q :;)"0+*(&+(@"&+#(@%#%(+*$#)%#(+-(+*@%>)"( *">)%-O(@%#%(+-)G)0%#(-%(@"-/$)>%(?(+*$%:-+>+#(-"*(&)*Q @"*)$)="*(&+(6":)+#0"O(@%#%()0*$%;#%#(-%(@"-)>/%(>"G"( 7"#G%(&+("#&+0O(@#"*>#)@>)H0(&+(-%()%(+E@+&)$%O( a@;#%bO(*)(+*(I;+(-%(=)&%(0)+$1*>R+%0%(@;+&+(G"#%-)Q 1%#(-%(%>>)H0(>"0(-%(@%-%:#%(a)%b(W+0(+-(+0$+0&)Q

"4*%'#8(5"$+%$"G"( G+&)"(+0(-%(-;>R%(&+(>"G@-+"0$#%($"&%(-;>R%(+0(6+0+#%-O(&+(%>;+#&"O(@"#( +"G;0)*$%(&+(9;R#)06O(*+#/%( ;0(@#)0>)@)"(R"*$)-(%(-%(=)&%O(;0("#&+0(&+*$#;>$"#(?( &)*6#+6%&"#(&+-(R"G:#+O(;0(%$+0$%&"(%-(@"#=+0)#(&+-( R"G:#+O(;0(*)60"(&+(>%0*%0>)"O(;0(>%G)0"($"#$;"*"( R%>)%(-%(0%&%b(Wo)+$1*>R+O(ABBA'(\mQ\\Y4 N+06%01%(=+#*;*(*+0$)G)+0$"(&+(=+06%01%O(-%(=+0Q 6%01%(&)7+#)&%O(-%(=+06%01%(G+&)%$)1%&%(@"#(-%(-+?(>"0Q =+#$)&%(+0(-%()%(>"G"()G@%#$)>)H0O(R+>R%()%( %-( R%>+#( &+( -%( =+06%01%( ;0%( G%-+="-+0>)%( %0$)*">)%-'( +-( =/0>;-"( G+&)%$)1%&"( "@+#%&"( @"#( -%( )%( >"G"( =+06%01%(&)7+#)&%($)+0+(I;+(=+#(>"0(-%($#%0*=%-"#%>)H0( &+($"&"*(-"*(=%-"#+*O(+-($#);07"(&+(-%(G"#%-(+*>-%=%O(@"#( +0&+(&+-(*)*$+G%(@"-/$)>"(+*>-%="O(+-(K*$%&"()6;%-)$%#)"' uuV"G@#+0&"O( =;+-="( %( %:#)#( -"*( "/&"*( Wv%?wO( v%?wO( v%?wO( ?( >)+##"(-%(0%#)1Y4(SH-"(%R"#%(")6"(-"(I;+(?%(%0$+*(&+>/%0(>"0( $%0$%(7#+>;+0>)%'(a0"*"$#"*(-"*(:;+0"*((uu0-.-5%-.(.-3-.("-.( I+.5-.buu( %( -"( I;+( +--"*( @)&+0( 0"( -"( --%G%0( &+*I;)$+O( *)0"( a+-( $#);07"( &+( -%( )%bX( %( -"( I;+( +--"*( "&)%0( 0"( +*( %( *;( +0+G)6"O(v0"wO(+--"*("&)%0(-%(a,0I+.5,/,$b(O(+-(a%$+/*G"bX(-"( I;+(+--"*(>#++0(?(+*@+#%0(0"(+*(-%(+*@+#%01%(&+(-%(=+06%01%O( -%( +G:#)%6;+1( &+( -%( &;->+( =+06%01%( WuuaG3*( &;->+( I;+( -%( G)+-bO(-%(--%G%:%(?%(2"G+#"YO(*)0"(-%(=)>$"#)%(&+(9)"*O(&+-( 9)"*(I+.5-(*":#+(-"*(%$+"*X(-"(I;+(%(+--"*(-+*(I;+&%(@%#%(%G%#( +0(-%($)+##%(0"(*"0(*;*(R+#G%0"*(+0(+-("&)"O(*)0"(*;*(aR+#G%Q 0"*(+0(+-(%G"#bO(>"G"(+--"*(&)>+0O($"&"*(-"*(:;+0"*(?()%-)1%>)H0(W&)*"-;>)H0(&+-(-%1"(>"GJ0Y(I;+( @+#G)$+( -%( %@%#)>)H0( &+-( )0&)=)&;"( G"&+#0"O( +0( -%*( %0$/@"&%*(&+-()0&)=)&;"(0)+$1*>R+%0"("O(@%#%(;*%#(-%( $+#G)0"-"6/%( &+( 2"#nR+)G+#O( +-( )0&)=)&;"( %;$Z0$)>"( +0-%1%&"(@"#(-%(&)7+#+0>)%(%O(7"#G%&"(@"#($%-( GLIHUHQFLDTXHHYLWDODPDVL¿FDFLyQODLGHQWLGDGOD LQGLYLGXDOLGDG PDVL¿FDGD OD LJXDOGDG GHPRFUiWLFD *">)%-)*$%(I;+($%0$"(%:"##+>/%(o)+$1*>R+4(MI;/(+-(>;+*Q

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cK5KcKoVPMS

V-%*$#+*O( !4( WC\FmYO( 8$( .-/,*)$)( /-05%$( *"( ;.5$)-O( i%#>+-"0%O(."0$+(á=)-%4 9+-+;1+O(j4(WABBAYO(1LHW]VFKH\OD¿ORVRItDO(i%#>+-"Q 0%O(M0%6#%G%4 9;#nR+)GO(Å4(WABBAYO(8$(),>,.,?0(.-/,$"()*"(5%$&$I-O( .ZE)>"O(V"-"7H04 K*@"*)$"O( c4( WABBDYO( J33+0,5$.U( V%-5*//,?0( 2( 0*#$6 /,?0()*("$(>,)$O(i;+0"*(M)#+*O(MG"##"#$;4 K*@"*)$"O( c4( WABBFYO( Y-33+0,5$.U( ^%,#*0( 2( )*.5,0-( )*("$(/-3+0,)$)O(i;+0"*(M)#+*O(MG"##"#$;4( 5";>%;-$O(.4(WC\\\YO(F*("$(0$5+%$"*4$(-"U( JJd(;.5%$5*#,$.()*(:-)*%O(i;+0"*(M)#+*O(!%)&H*4 5";>%;-$O( .4( WABBCYO( L,#,"$%( 2( /$.5,#$%U( A$/,3,*05-( )*("$(:%,.,?0O(.ZE)>"O(S)6-"(]]P(K&)$"#+*4 5#+;&O(S4(WABBDYO( =?5*3(2(5$&@O(+0(S4(5#+;&O( ^&%$.( Y-3:"*5$.O($"G"(PPO(i;+0"*(M)#+*O(K-(M$+0+"4 2"::+*O(U4(WABBeYO(;"(8*>,$5E0U(^("$(3$5*%,$M(1-%3$(2(:-6 )*%()*(+0$(%*:@&",/$(*/"*.,E.5,/$(2(/,>,"O(.ZE)>"O(5VK4 8">n+O(k4(WABBeYO(;0.$2-(.-&%*(*"(#-&,*%0-(/,>,"O(.ZQ E)>"O(j+#0)n%4 8;RG%00O( o4( WC\\mYO( Y-3:"*I,)$)( 2( 3-)*%0,)$)O( .%&#)&O(U#"$$%4 ."#+0"(2+#030&+1O(24(V4(WABCBYO(8$(N$%$(/-3-(*I*%/,/,-( )*(/-05%$:-)*%O(.ZE)>"O(U+*)*(&+(9">$"#%&"(+0(V)+0Q >)%*(S">)%-+*(?(!"-/$)>%*O(T0)=+#*)&%&(P:+#"%G+#)>%0%4 o)+$1*>R+O( 54( WABBAYO( j*0*$"-#'$( )*( "$( 3-%$"O( .%Q &#)&O(M-)%01%4 o)+$1*>R+O(54(WABBA%YO(;//*(R+O(54(WABBA:YO(8$(#$2$(/,*0/,$O(.%&#)&O(K9M54 o)+$1*>R+O(54(WABB_YO(H%$#3*05-.(:?.5+3-.(.-&%*(:-6 "'5,/$O(.%&#)&O(U#"$$%4 o)+$1*>R+O( 54( WABBDYO( ;"( 0$/,3,*05-( )*( "$( 5%$#*),$O( .%&#)&O(M-)%01%4 o)+$1*>R+O( 5( WABBFYO( D+3$0-M( )*3$.,$)-(