Ghid de utilizare SAMSUNG PS50B650S1W

[. . . ] [. . . ] 7;3;)3 7HOHYL]RU ñQ FXORUL , QVWUXF LXQL GH H[SORDWDUH 1 5RPDQ 3;)3 74%(1 :HOFRPH 6SHU P F Y YH L EXFXUD PXO L DQL GH QRXO GYV WHOHYL]RU 6HF LXQHD *KLG GH 3RUQLUH 5DSLG GH OD ñQFHSXWXO DFHVWXL PDQXDO GH LQVWUXF LXQL Y YD SHUPLWH V IRORVL L WHOHYL]RUXO F W PDL UDSLG 9 UHFRPDQG P V FLWL L DSRL FRPSOHW PDQXDOXO L V O S VWUD L SHQWUX DO FRQVXOWD SH P VXU FH H[SORUD L JDPD GH RS LXQL DYDQVDWH RIHULWH GH DFHVW WHOHYL]RU $FHVW WHOHYL]RU DUH XQ FRQVXP IRDUWH UHGXV FHHD FH ñL IDFH IXQF LRQDUHD VD IRDUWH HILFLHQW 'H DVHPHQHD ñQ PRGXO GH RSHUDUH 6WDQGE] FRQVXPXO QX GHS H WH : $FHVW PDQXDO GH LQVWUXF LXQL D IRVW SURGXV IRORVLQG K UWLH UHFLFODW IDEULFDW GLQ FHOXOR] GLQ GH HXUL UHFLFODWH &XORDUHD HOLPLQDW I U DOELUH 1X FRQ LQH DJHQ L GH DOELUH RSWLF 2%6 !## "( Qvvt hr G rvv qvt qpv H69@ ASPH È S@8`8G@9 Q6Q@S &XSULQV $FFHVRULLOH 3UHYHQLUL L 0 VXUL 'H 3UHFDX LH , QVWUXF LXQL 'H 3RUQLUH 5DSLG $ 7HOHYL]RUXOXL &RPHQ]L GH ED] SDQRXO GLQ ID L WHOHFRPDQGD )RORVLUHD 0HQLXULORU 'H (FUDQ 0DQLXO 'H , PDJLQH 3LFWXUH 0HQX 0HQLXO 'H 6XQHW 6RXQG 0HQX 0HQLXO 'H 5HJO UL 6HWXS 0HQX 0HQLXO 'H $FRUGDUH 7XQLQJ 0HQX 3UH]HQWDUH *HQHUDO 5HGDFWDUHD 3URJUDPXOXL 3URJUDPPH (GLW $FRUGDUHD $XWRPDW $ &DQDOHORU $73 $FRUGDUHD 0DQXDO $ &DQDOHORU 0DQXDO 7XQLQJ &RPHQ]L $VSHFW 0XOWH IHUHVWUH 0XOWL ZLQGRZ & XWDUH FDQDOH &KDQQHO VHDUFK , PDJLQH L WH[W 6WLOO 6WRS FDGUX 4/LQN )XQF LRQDUHD YLGHR UHFRUGHUXOXL 9&5 L D '9'XOXL )XQF LRQDUHD WHOHWH[WXOXL &RQHFW UL DXGLR YLGHR 0XIHOH GLQ ID 0XIHOH GLQ VSDWH 'HSLVWDUHD L ðQO WXUDUHD 'HIHF LXQLORU , QIRUPD LL SULYLQG PXID 6FDUW L 6YLGHR &DUDFWHULVWLFLOH 7HKQLFH $FFHVRULLOH 6H YHULILF GDF ñQ FRPSOHWXO WHOHYL]RUXOXL VXQW LQFOXVH DFFHVRULLOH LQGLFDWH PDL MRV T , QVWUXF LXQLOH GH H[SORDWDUH 3XSLWUXO GH WHOHFRPDQG 37& (85 7;3;)3 *DUDQWLD 3DQ(XURSHDQD %DWHULLOH SHQWUX 37& EXF GLPHQVLXQHD 5 80 VL]H 3UHYHQLUL L 0 VXUL 'H 3UHFDX LH - $OLPHQWDUHD SUH]HQWXOXL WHOHYL]RU VH UHDOL]HD] GH OD UH HDXD GH FXUHQW DOWHUQDWLY GH 9 +] - 1X DUXQFD L EDWHULLOH DPEDODMHOH L LQVWUXPHQWHOH YHFKL GH JHQXO GH HXUL FDVQLFH FL OH VHSDUD L ñQ FRQIRUPLWDWH FX UHJXOD LLOH ñQ YLJRDUH - 3HQWUX D HYLWD HOHFWURFXWDUHD L DSDUL LD LQFHQGLXOXL QX VH DGPLWH S WUXQGHUHD ñQ WHOHYL]RU D VWURSLORU GH SORDLH L D DF LXQLL XPH]HOLL DVXSUD DFHVWXLD $FHVW WHOHYL]RU QX WUHEXLH H[SXV XQRU VFXUJHUL VDX VWURSLUL FX DS LDU RELHFWHOH XPSOXWH FX OLFKLG SUHFXP YD]HOH QX WUHEXLH D H]DWH SH WHOHYL]RU VDX GHDVXSUD DFHVWXLD - $7(1 , ( ð1$/7 7(16, 81( 1X VH YD VFRDWH FDSDFXO GLQ VSDWH DO WHOHYL]RUXOXL GHRDUHFH ñQ DFHVW FD] VH GHVFKLGH DFFHVXO OD S U LOH FRQGXF WRDUHGH FXUHQW ðQ LQWHULRUXO WHOHYL]RUXOXL QX H[LVW SLHVH FDUH QHFHVLW HIHFWXDUHD ñQWUH LQHULL GH F WUH EHQHILFLDU - 7HOHMRFXULOH&RPSXWHULOH FDVQLFH ðQ FDGUXO IRORVLULL WHOHYL]RUXOXL OD WHOHMRFXUL L FRPSXWHUH FDVQLFH SH HFUDQ VH SRW IRUPD kXPEUHl LQGLVSDULELOH $FHVW LUHYHUVLELO GHIHFW DO FLQHVFRSXOXL SRDWH IL UHGXV OD PLQLP SULQ UHVSHFWDUHD XUP WRDUHORU UHJXOL - 6H VWDELOHVF QLYHOH PLQLPH GH OXPLQR]LWDWH L FRQWUDVW ñQ FDGUXO F URUD WHOHYL]RUXO SRDWH IL IRORVLW - /D IXQF LRQDUHD FX WHOHMRFXULOH VDX FRPSXWHUHOH FDVQLFH WHOHYL]RUXO QX VH YD IRORVL YUHPH ñQGHOXQJDW I U SDX]H - 7LSXO LQGLFDW GH GHIHFW DO FLQHVFRSXOXL QX FRQVWLWXLH XQ GHIHFW GH IDEULFD LH L GH DFHHD JDUDQ LD QX HVWH YDODELO ñQDFHVW FD] - $VLJXUD L DFFHV X RU DO FDEOXOXL HOHFWULF OD SUL]D HOHFWULF ðQWUHUXS WRUXO 2Q2II $FWLYDW'H]DFWLYDW DO DFHVWXL PRGHO QX GHFRQHFWHD] WRWDO WHOHYL]RUXO GH OD UH HDXD HOHFWULF GH DOLPHQWDUH 'HFRQHFWD L QXUXO GH UH HD GH OD SUL]D UH HOHL HOHFWULFH ñQDLQWH GH D FRQHFWD VDX GHFRQHFWD XQ FRQGXFWRU GH FDEOX VDX GDF WHOHYL]RUXO QX HVWH XWLOL]DW SHQWUX R SHULRDG GH WLPS ñQGHOXQJDW 1RW - 'DF WHOHYL]RUXO QX VH GHFRQHFWHD] GXS FH SRVWXO GH WHOHYL]LXQH LD WHUPLQDW HPLVLXQLOH WUHFH DXWRPDW OD UHJLPXO GHD WHSWDUH GXS PLQXWH GH OD WHUPLQDUHD IXQF LRQ ULL SRVWXOXL $FHDVW IXQF LH QX HVWH YDODELO F QG WHOHYL]RUXO VH J VH WH ñQ UHJLPXO $9 - ð175( , 1(5($ &2538/8, 7(/(9, =258/8, , $ &, 1(6&238/8, 6H GHFRQHFWHD] WHFKHUXO QXUXOXL GH UH HD GH OD SUL]D UH HOHL HOHFWULFH &RUSXO L FLQHVFRSXO SRW IL FXU DWH FX DMXWRUXO XQHL HV WXUL PRL PXLDWH ñQWUR VROX LH VODE GH DS FX GHWHUJHQW 1X VH YRU IRORVL VROX LL FX FRQ LQXW GH EHQ]RO L EHQ]LQ /D WHOHYL]RU VH SRDWH DFXPXOD ñQF UFDUH HOHFWULF 'H DFHHD FRQWDFWXO FX WHOHYL]RUXO VH YD IDFH FX SUHFDX LH - 3HQWUX SUH QW PSLQDUHD LH LULL GLQ IXQF LXQH D FRPSRQHQWHORU HOHFWULFH HVWH QHFHVDU R YHQWLOD LH QRUPDO ðQ MXUXO VXSUDIH HORU WHOHYL]RUXOXL WUHEXLH V H[LVWH XQ VSD LX OLEHU GH FHO SX LQ FP FKLDU L DWXQFL F QG WHOHYL]RUXO VH LQVWDOHD] ñQ GXODS VDX ñQWUH UDIWXUL $ QX VH ñPSLHGLFD DHULVLUHD SULQ DFRSHULUHD RULILFLLORU GH YHQWLOD LH FX RELHFWH FD GH H[HPSOX ]LDUH F USH VDX GUDSHULL - 1X VH YD VXSXQH WHOHYL]RUXO OD DF LXQHD GLUHFW D UD]HORU VRODUH L D DOWRU VXUVH GH F OGXU 3HQWUX D SUHYHQL LQFHQGLLOH QX SR]LWLRQDWL QLFLRGDWD 3HQWUX D SUHYHQL LQFHQGLLOH QX SR]LWLRQDWL QLFLRGDWD OXPDQDUL VDX IODFDUD GHVFKLVD SH VDX LQ DSURSLHUHD DSDUDWXOXL 79 )L[DUHD %DWHULLORU 3HQWUX 7HOHFRPDQG 6FRDWH L FDSDFXO EDWHULLORU , QWURGXFH L EDWHULLOH DWHQ LH OD SRODULWDWHD FRUHFW DQG  3XQH L FDSDFXO OD ORF - 6H YHULILF GDF EDWHULLOH VXQW LQVWDODWH ñQ 37& FRQIRUP LQGLFD LLORU GLQ VFKHP - 1X VH YRU LQVWDOD EDWHULL QRL ñPSUHXQ FX FHOH YHFKL %DWHULLOH YHFKL VH YRU ñQO WXUD LPHGLDW GXS HSXL]DUHD GXUDWHL GH VHUYLFLX - 1X VH YRU LQVWDOD EDWHULL GH GLYHUVH WLSXUL GH H[HPSOX FX ILHUQLFKHO L PDQJDQ L QX VH YRU IRORVL EDWHULL GH DFXPXODWRDUH 1L&G 1L0+ , QVWUXF LXQL 'H 3RUQLUH 5DSLG $ 7HOHYL]RUXOXL 0$*1(72)21 9, '(2 '9' 5(&25'(5 6$8 6H FRQHFWHD] FDEOXO DQWHQHL L VH UDFRUGHD] XWLODMXO DX[LOLDU &219(5725 6(01$/ 79 6$7(/, 7 , QL LDO DVLJXUD LY F GLVSR]LWLYXO GH ñQUHJLVWUDUH VH DIO ñQ PRGXO 6WDQGE\ GH D WHSWDUH 6H UDFRUGHD] WHOHYL]RUXO L VH FRQHFWHD] $OHJH L OLPED 'DF DUD GXPQHDYRDVWU QX HVWH WUHFXW VHOHFWD L ((X 'DF GRUL L V HIHFWXD L UHJOD UHD PDQXDO DS VD L EXWRQXO YHUGH $ VH YHGHD SDJLQD $S VD L EXWRQXO UR X SHQWUX D SRUQL $XWRFRQILJXUDUHD $XWR VHWXS 6H SRUQH WH $XWRFRQILJXUDUHD FDUH DVLJXU GHSLVWDUHD L S VWUDUHD ñQ PHPRULH D SRVWXULORU FDUH IXQF LRQHD] ñQ ORFDOLWDWHD GXPQHDYRDVWU 'DF XQ GLVSR]LWLY GH ñQUHJLVWUDUH FRPSDWLELO HVWH FRQHFWDW OD PXID 6&$57 FRUHVSXQ] WRDUH GDWHOH SURJUDPXOXL YRU IL GHVF UFDWH ñQ GLVSR]LWLY SULQ 4/LQN $ VH YHGHD SDJLQD , QVWUXF LXQL 'H 3RUQLUH 5DSLG $ 7HOHYL]RUXOXL /D WHUPLQDUHD SURFHVXOXL $XWR VHWXS $XWRFRQILJXUDUH GDF LQVWDOD L XQ GLVSR]LWLY QRX GH ñQUHJLVWUDUH 4/LQN FRPSDWLELO SXWH L V O UHJOD L ñQ SR]L LD 2Q $FWLYDW 'DWHOH GH UHJODUH GHVF UFDWH VH YRU SRWULYL FX FHOH DOH WHOHYL]RUXOXL 1X WRDWH DSDUDWHOH VXSRUW DFHDVW GHVF UFDUH D LQIRUPD LLORU GHVSUH SURJUDPH XQHOH WUHEXLH SRUQLWH PDQXDO 3HQWUX GHWDOLL FRQVXOWD L PDQXDOXO FX LQVWUXF LXQL DO GLVSR]LWLYXOXL - 'DF GLVSR]LWLYXO GH ñQUHJLVWUDUH QX SULPH WH GDWH GHVF UFDWH GH OD WHOHYL]RU WUHEXLH V VHOHFWD L RS LXQHD 7UDQVPLWHUH GLQ PHQLXO GLVSR]LWLYXOXL - 'DF 4/LQN QX IXQF LRQHD] FRUHFW YHULILFD L GDF HVWH UDFRUGDW OD PXID 6&$57 FRUHVSXQ] WRDUH D WHOHYL]RUXOXL FRQGXFWRUXO GH FDEOX 6&$57 DUH lIXQFWLL FRPSOHWHl LDU GLVSR]LWLYXO HVWH FRPSDWLELO FX 4/LQN 1(;79, (:/, 1. ) 6(&$0 // $S VD L 675 SHQWUX D PHPRUD QRXD VHWDUH 675 &RSLHUHD LQIRUPD LLORU SURJUDPXOXL SH XQ DSDUDW YLGHR '9' 5HFRUGHU 8UP WRDUHOH RS LXQL VXQW GLVSRQLELOH QXPDL GLQ GLVSR]LWLYXO FRQHFWDW OD PXID 6FDUW VHOHFWDW XWLOL] QG l4/LQNl D VH YHGHD SDJLQD  $YH L SRVLELOLWDWHD GH D FRSLD LQIRUPD LLOH GHVSUH SURJUDPH SH XQ GLVSR]LWLY GH ñQUHJLVWUDUH FRPSDWLELO FRQHFWDW OD PXID $9 VDX $9 D VH YHGHD SDJLQD SHQWUX LQIRUPD LLOH GH FRQHFWDUH $S VD L EXWRQXO DOEDVWUX 'DWHOH GHVSUH SURJUDPH YRU IL DFXP WULPLVH GLVSR]LWLYXOXL GLVSR]LWLYHORU GH ñQUHJLVWUDUH $FHVW OXFUX DU SXWHD GXUD F WHYD VHFXQGH ñQ IXQFWLH GH QXP UXO GH SRVWXUL PHPRUDWH 'DF DSDUH SH HFUDQ PHVDMXO l2S LXQHD QU GLVSRQLELO l DWXQFL ñQVHDPQ F WHOHYL]RUXO QX SRDWH WULPLWH LQIRUPD LL GHVSUH SURJUDPH GLVSR]LWLYXOXL GLVSR]LWLYHORU GH ñQUHJLVWUDUH 3HQWUX PDL PXOWH LQIRUPD LL D VH YHGHD PDQXDOXO FX LQVWUXF LXQL DO GLVSR]LWLYXOXL 0HQLXO 'H $FRUG UL 7XQLQJ 0HQX $FRUGDUHD $XWRPDW $ &DQDOHORU $73 0RGXO $73 $XWRFRQILJXUDUH UHJOHD] DXWRPDW OD ORF WHOHYL]RUXO GYV $FHVW OXFUX HVWH XWLO GH H[HPSOX DWXQFL F QG Y PXWD L L GRUL L V UHJOD L WHOHYL]RUXO GYV SHQWUX D UHFHS LRQD VWD LLOH ORFDOH $S VD L EXWRQXO GH PHQLX 6(783 'HSODVD LY OD RS LXQHD GH PHQLX 7XQLQJ 5HJODUH , QWUD L ñQ PHQLXO 7XQLQJ 'HSODVD LY OD RS LXQHD $73 $XWRFRQILJXUDUH 6H UHDOL]HD] DFFHVXO OD PHQLXO 7XQLQJ PHQX 6H DSDV SHQWUX FRQILUPDUH 6H DOHJH DUD GH RULJLQH 1RW - 'DF WUHFH L OD HWDSD XUP WRDUH WRDWH GDWHOH GH UHJODUH YRU IL WHUVH WRDWH VWD LLOH L SR]L LLOH ORU GH SURJUDP U PDVH ñQ PHPRULD WHOHYL]RUXOXL YRU IL WHUVH DVWIHO ñQF W QRLOH VHW UL V SRDW IL PHPRUDWH 'DF SXQH L FDS W SURFHGXULL GXS DFHVW SXQFW L ñQDLQWH GH WHUPLQDUHD SURFHVXOXL $73 $XWRFRQILJXUDUH QX YD IL PHPRUDW QLFL R LQIRUPD LH OHJDW GH VWD LD GH WUDQVPLVLH ðQFHSH L GLQ QRX L HIHFWXD L SURFHGXUD $73 $XWRFRQILJXUDUH S Q OD FDS W DVWIHO ñQF W WHOHYL]RUXO GYV V ILH UHJODW SHQWUX SRVWXO UHVSHFWLY SHQWUX D $S VD L $XWRFRQILJXUDUH ñQFHSH SURFHVXO $73 6(7 83 7HOHYL]RUXO YD F XWD SRVWXULOH ORFDOH L OH YD DPSODVD SH FDQDOH ñQWUR DQXPLW RUGLQH 'DF OD PXID $9$9 HVWH FRQHFWDW XQ GLVSR]LWLY GH ñQUHJLVWUDUH GDWHOH GHVSUH SURJUDPH YRU IL WULPLVH F WUH GLVSR]LWLY SULQ 4/LQN YH]L SDJ  /D WHUPLQDUHD DFHVWHL RSHUD LXQL WHOHYL]RUXO YD DIL D SURJUDPXO SURDVS W PHPRUDW OD SR]L LD GH SURJUDP $S VD L EXWRQXO 79$9 ñQ RULFH PRPHQW SHQWUX D UHYHQL OD SURJUDPXO 79 YL]LRQDW Y UXJ P V FLWL L 1RW GH OD SURFHGXUD GH PDL VXV 79$9 0HQLXO 'H $FRUG UL 7XQLQJ 0HQX $FRUGDUHD 0DQXDO $ &DQDOHORU 0DQXDO 7XQLQJ (VWH SRVLELO V UHJOD L LQGLYLGXDO SR]L LLOH GH SURJUDP $S VD L EXWRQXO GH PHQLX 6(783 'HSODVD LY OD RS LXQHD GH PHQLX 7XQLQJ 5HJODUH , QWUD L ñQ PHQLXO 7XQLQJ 'HSODVD LY PDQXDO  OD RS LXQHD 0DQXDO WXQLQJ 5HJODUH 6(7 83 6H UHDOL]HD] DFFHVXO OD PHQLXO 7XQLQJ PHQX 6H DOHJH FDQDOXO FDUH XUPHD] D IL DFRUGDW 6H ñQFHSH HIHFWXDUHD DFRUG ULL 'XS FH SURJUDPXO QHFHVDU D IRVW DFRUGDW VH DSDV EXWRQXO 675 SHQWUX S VWUDUHD UHJO ULL ñQ PHPRULH 3R]L LD SURJUDPXOXL YD OXPLQD LQWHUPLWHQW $S VD L EXWRQXO 79$9 ñQ RULFH PRPHQW SHQWUX D UHYHQL OD SURJUDPXO 79 YL]LRQDW 675 79$9 5HJODUH PDQXDO FX EXWRDQHOH GH OD WHOHYL]RU 3XWH L GH DVHPHQHD V IRORVL L EXWRDQHOH GH OD WHOHYL]RU SHQWUX D UHJOD LQGLYLGXDO SR]L LLOH GH SURJUDP 6H DSDV EXWRQXO ) SDQRXO DQWHULRU S Q F QG QX DSDUH k7XQLQJ PRGHl k5HJLPXO GH DFRUGDUHl 6H DSDV EXWRQXO VDX SHQWUX UHDOL]DUHD DFFHVXOXL OD 7XQLQJ PRGH &X DMXWRUXO DS V ULL SH EXWRQXO 79$9 VH UHDOL]HD] GHSODVDUHD ñQWUH k6FKLPEDUH SURJUDPl k/DQVDUH F XWDUHl L k6FKLPEDUH VLVWHP 79l 6H DSDV EXWRQXO VDX SHQWUX VFKLPEDUHD FDQDOXOXL FRQHFWDUHD F XW ULL SRVWXOXL VDX VFKLPEDUHD VLVWHPXOXL 79 'XS FH SRVWXO QHFHVDU D IRVW J VLW VH DSDV EXWRQXO 675 SHQWUX S VWUDUHD VFKLPE ULORU 3R]L LD SURJUDPXOXL YD OXPLQD LQWHUPLWHQW 5HSHWD L SURFHGXUD GH PDL VXV SHQWUX D UHJOD L DOWH SR]L LL GH SURJUDP $S VD L EXWRQXO ) ñQ RULFH PRPHQW SHQWUX D UHYHQL OD SURJUDPXO 79 YL]LRQDW ) 79 $9 675 ) $63(&7 &RPHQ]L $VSHFW YD SHUPLWH V Y EXFXUD L GH YL]LRQDUHD LPDJLQLORU DY QG P ULPH LQFOXVLY LPDJLQL GH HFUDQ ODUJ jIRUPDW FLQHPD L DVSHFW RSWLPH 79 FX HFUDQ ODUJ Y $S VD L UHSHWDW EXWRQXO $63(&7 SHQWUX D GHUXOD RS LXQLOH GH DVSHFW DOH HFUDQXOXL 3DQDVRQLF $XWR 3DU LDO =RRP =RRP DQG =RRP 6$8 $S VD L EXWRQXO $63(&7 DSRL IRORVL L EXWRDQHOH 52 8 VDX 9(5'( SHQWUX D Y GHSODVD ñQ RULFH GLUHF LH SULQ FHOH RSW RS LXQL GH DVSHFW /$5* 3DQDVRQLF $XWR 3DQDVRQLF $XWR GHWHUPLQ FHO PDL EXQ UDSRUW DO DVSHFWXOXL SHQWUX D XPSOH HFUDQXO GXPQHDYRDVWU $FHDVWD VH UHDOL]HD] IRORVLQG XQ SURFHV ñQ SDWUX WUHSWH SHQWUX D GHWHUPLQD GDF LPDJLQHD YL]LRQDW HVWH R LPDJLQH GH HFUDQ ODUJ 'DF 3DQDVRQLF $XWR GHWHFWHD] XQ VHPQDO GH HFUDQ ODUJ DWXQFL FRPXW ñQ PRGXO GH HFUDQ ODUJ DGHFXDW GH 'DF 3DQDVRQLF $XWR QX GHWHFWHD] XQ VHPQDO GH HFUDQ ODUJ DWXQFL DFHVW DSDUDW 79 DYDQVDW DPHOLRUHD] LPDJLQHD SHQWUX D RE LQH SO FHUH RSWLP GH YL]LRQDUH 7H[WXO DU WDW SH HFUDQ LQGLF PRGXO ñQ FDUH 3DQDVRQLF $XWR D GHWHUPLQDW FH UDSRUW V IRORVHDVF j/$5* DSDUH ñQ SDUWHD VW QJ VXV D HFUDQXOXL GDF VH J VH WH XQ VHPQDO GH LGHQWLILFDUH GH HFUDQ ODUJ :66 VDX GDF VH J VH WH XQ VHPQDO SULQWUR SUL] 6FDUW j3DQDVRQLF $XWR DSDUH ñQ SDUWHD VW QJ VXV D HFUDQXOXL GDF VH GHWHFWHD] GXQJL QHJUH GHDVXSUD L GHGHVXEWXO LPDJLQLL 3DQDVRQLF $XWR DOHJH UDSRUWXO FHO PDL EXQ L H[SDQGHD] LPDJLQHD SHQWUX D XPSOH HFUDQXO $FHVW SURFHV SRDWH GXUD F WHYD PLQXWH GHSLQ] QG GH ñQWXQHFLPHD LPDJLQLL 3XWH L SUHIHUD VHOHFWDUHD PDQXDO D XQHLD GLQ FHOHODOWH RS LXQL GH DVSHFW GLVSRQLELOH SHQWUX YL]LRQDUHD LPDJLQLL +LQZHLVH - 'DF ñQ PRGXO 3DQDVRQLF $XWR DSDU SUREOHPH FX P ULPHD GLVSOD\XOXL SH HFUDQ F QG VH UHGDX ñQUHJLVWU UL ñQ IRUPDW GH HFUDQ ODUJ GH SH 9&5XO GXPQHDYRDVWU DWXQFL HVWH SRVLELO FD FRQWUROXO SLVWHL OD 9&5 V QHFHVLWH R DMXVWDUH FDUWHD GXPQHDYRDVWU GH LQVWUXF LXQL - 9&5 YD FRQ LQH GHWDOLL SHQWUX DMXVWDUH 5DSRUWXO DVSHFWXOXL GH HFUDQ ODUJ DO GLIHULWHORU ILOPH L SURJUDPH SRDWH IL YDULDW 'DF DFHVWD HVWH PDL PDUH GHF W VWDQGDUGXO GH DVSHFW LPDJLQH GH DWXQFL SRDWH V ILH YL]LELO R EDQG QHDJU ñQ SDUWHD GH MRV L FHD GH VXV D HFUDQXOXL j/$5* DSDUH SH SDUWHD VW QJ VXV D HFUDQXOXL 3DQDVRQLF $XWR FRPXW OD UDSRUWXO GH HFUDQ ODUJ DGHFXDW GH 3DQDVRQLF $XWR j3DQDVRQLF $XWR DSDUH SH SDUWHD VW QJ VXV D HFUDQXOXLFHO PDL EXQ UDSRUW ILLQG DOHV L LPDJLQHD H[SDQGDW SHQWUX D XPSOH HFUDQXO 3DQDVRQLF $XWR $S VD L EXWRQXO $63(&7 DSRL IRORVL L EXWRDQHOH 52 8 L 9(5'( SHQWUX D Y GHSODVD ñQ RULFH GLUHF LH SULQ FHOH RSW RS LXQL GH DVSHFW $63(&7 &RPHQ]L $VSHFW YD DIL D R LPDJLQH YHULGLF DQDPRUILF I U GLVWRUVLXQ L GH DVSHFW 0RGXO YD DIL D ILOPXO LQ IRUPDW VDX IDUD PRGLILF UL GH GLPHQVLXQH DOH LPDJLQLL 3DU LDO 3DU LDO )RORVL L DFHVW PRG GDF GRUL L V P UL L R LPDJLQH GLQ PRGXO OD ñQWUHJ HFUDQXO PDL GHJUDE GHF W V Y XLWD L OD XQ SURJUDP FX GXQJL QHJUH ñQ SDUWHD GLQ VW QJD L GUHDSWD MRV D LPDJLQLL , PDJLQHD GLQ PRGXO YD IL DOXQJLW RUL]RQWDO DVWIHO ñQF W HD YD RFXSD WRW HFUDQXO $FHVW OXFUX HVWH UHDOL]DW ñQ D D IHO ñQF W DOXQJLUHD HVWH HYLGHQW GRDU OD PDUJLQLOH GLQ VW QJD L GLQ GUHDSWD DOH HFUDQXOXL 3DU LDO 3DU LDO YD DIL D R LPDJLQH GH P ULPH VWDQGDUG I U GLVWRUVLXQL GH DVSHFW $63(&7 &RPHQ]L $VSHFW =RRP =RRP YD DIL D R FXWLH SR WDO VDX R LPDJLQH I U GLVWRUVLXQL GH DVSHFW =RRP =RRP =RRP =RRP YD DIL D LPDJLQL DQDPRUILFH GH FXWLH SR WDO FX XQ GLVSOD\ FDUH XPSOH FRPSOHW HFUDQXO I U GLVWRUVLXQL GH DVSHFW =RRP =RRP =RRP =RRP YD DIL D LPDJLQL GH FXWLH SR WDO FX XQ GLVSOD\ FDUH XPSOH FRPSOHW HFUDQXO I U GLVWRUVLXQL GH DVSHFW YD DIL D LPDJLQHD OD P ULPHD HL PD[LP GDU FX R X RDU DOXQJLUH =RRP =RRP 08/7, :, 1'2: 0XOWH )HUHVWUH 0XOWL ZLQGRZ 08/7, :, 1'2: $S VD L EXWRQXO 08/7, :, 1'2: ðQ WLPS FH SH HFUDQ VXQW DIL DWH WDVWHOH VHOHFWRUXOXL XWLOL]D L EXWRDQHOH UR X L YHUGH SHQWUX D Y GHSODVD ñQWUH RS LXQHD SLFWXUH LQ SLFWXUH LPDJLQH ñQ LPDJLQH RS LXQHD SLFWXUH RXW RI SLFWXUH LPDJLQH ñQ DIDUD LPDJLQLL L RS LXQHD SLFWXUH DQG SLFWXUH LPDJLQH L LPDJLQH 7DVWHOH VHOHFWRUXOXL DIL DWH SH HFUDQ FRUHVSXQ] WRDUH FHORU SDWUX EXWRDQH FRORUDWH GH SH WHOHFRPDQG  FDUH DSDU SHQWUX DFHVWH RS LXQL GLVSDU GXS F WHYD VHFXQGH 'DF GRUL L V VHOHFWD L R RSHUD LH DWXQFL F QG DFHVWH WDVWH QX VXQW DIL DWH DS VD L EXWRQXO 08/7, :, 1'2: ñQF R GDW L DFHVWHD YRU UHDS UHD $S VD L EXWRQXO 08/7, :, 1'2: ñQ WLPS FH WDVWHOH VHOHFWRUXOXL VXQW DIL DWH SH HFUDQ SHQWUX D Y ñQWRDUFH OD UHJLPXO QRUPDO GH YL]XDOL]DUH 3LFWXUH DQG SLFWXUH , PDJLQH L LPDJLQH 3HUPLWH YL]LRQDUHD VLPXOWDQ D GRX LPDJLQL $S VD L EXWRQXO JDOEHQ SHQWUX D VHOHFWD FRQ LQXWXO IHUHVWUHL GLQ GUHDSWD WUHF QG GH OD DIL DUHD XQXL FDQDO 79 OD DIL DUHD WXWXURU VXUVHORU $9 SH U QG $S VD L EXWRQXO DOEDVWUX SHQWUX D IDFH VFKLPE ñQWUH FRQWLQXWXULOH FHORU GRX IHUHVWUH )RORVL L WHOHFRPDQGD SHQWUX D VHOHFWD XQ FDQDO 79 VDX SHQWUX D DIL D R VXUV $9 ñQ IHUHDVWUD GLQ VW QJD 0RGXO SLFWXUH DQG SLFWXUH LPDJLQH L LPDJLQH 3LFWXUH LQ SLFWXUH , PDJLQH ñQ LPDJLQH 3HUPLWH YL]LRQDUHD VLPXOWDQ D GRX LPDJLQL $S VD L EXWRQXO JDOEHQ SHQWUX D VHOHFWD FRQ LQXWXO IHUHVWUHL PDL PLFL WUHF QG GH OD DIL DUHD XQXL FDQDO 79 OD DIL DUHD WXWXURU VXUVHORU $9 SH U QG $S VD L EXWRQXO DOEDVWUX SHQWUX D IDFH VFKLPE ñQWUH FRQ LQXWXULOH FHORU GRX IHUHVWUH )RORVL L WHOHFRPDQGD SHQWUX D VHOHFWD XQ FDQDO 79 VDX SHQWUX D DIL D R VXUV $9 ñQ IHUHDVWUD SULQFLSDO 0RGXO SLFWXUH LQ SLFWXUH LPDJLQH ñQ LPDJLQH &HOH GRX SURJUDPH DX IRVW VFKLPEDWH ñQWUH HOH SURJUDPXO GLQ IHUHDVWUD PDL PLF GHYHQLQG SURJUDPXO GLQ IHUHDVWUD SULQFLSDO 3LFWXUH RXW RI SLFWXUH , PDJLQH ñQ DIDUD LPDJLQLL $FHDVW RS LXQH SHUPLWH YL]LRQDUHD VLPXOWDQ D GRX SURJUDPH OD IHO FD L RS LXQHD , PDJLQH ñQ LPDJLQH 'LIHUHQ D FRQVW ñQ PRGXO GH DIL DUH D FHORU GRX SURJUDPH ñQ RS LXQHD LPDJLQH ñQ LPDJLQH IHUHDVWUD PDL PLF DSDUH ñQ LQWHULRUXO IHUHVWUHL SULQFLSDOH ñQ RS LXQHD LPDJLQH ñQ DIDUD LPDJLQLL IHUHDVWUD PDL PLF DSDUH ñQ GUHDSWD LPDJLQLL SULQFLSDOH $S VD L EXWRQXO JDOEHQ SHQWUX D VHOHFWD FRQ LQXWXO IHUHVWUHL PDL PLFL WUHF QG GH OD DIL DUHD XQXL FDQDO 79 OD DIL DUHD WXWXURU VXUVHORU $9 SH U QG $S VD L EXWRQXO DOEDVWUX SHQWUX D IDFH VFKLPE ñQWUH FRQ LQXWXULOH FHORU GRX IHUHVWUH )RORVL L WHOHFRPDQGD SHQWUX D VHOHFWD XQ FDQDO 79 VDX SHQWUX D DIL D R VXUV $9 ñQ IHUHDVWUD SULQFLSDO 0RGXO SLFWXUH RXW RI SLFWXUH LPDJLQH ñQ DIDUD LPDJLQLL , 1'(; &+ 6($5&+ & XWDUH FDQDOH &KDQQHO VHDUFK , 1'(; &+ 6($5&+ $S VD L EXWRQXO &+ 6($5&+ & XWDUH FDQDOH SHQWUX D DIL D VHFYHQ HOH VWDWLFH DOH SURJUDPHORU WUDQVPLVH SH WRDWH FDQDOHOH PHPRUDWH $FHVWH LPDJLQL VXQW DIL DWH ñQ VHULH ñQFHS QG FX SDUWHD GLQ VW QJD VXV D HFUDQXOXL $FHDVW RS LXQH VH UHSHW ñQWUXQ FLFOX ñQ F XWDUHD SULQ FDQDOHOH PHPRUDWH S Q F QG VH DSDV ILH SH EXWRQXO 67, // 6WRSFDGUX ILH SH &+ 6($5&+ & XWDUH FDQDOH SHQWUX D LH L GLQ DFHDVW RS LXQH $S VD L EXWRQXO UR X SHQWUX D VHOHFWD SH U QG VHFYHQ HOH VWDWLFH DOH ILHF UXL FDQDO $S VD L EXWRQXO YHUGH SHQWUX D XUP UL FDQDOXO VHOHFWDW LH LQG GLQ DFHDVW RS LXQH $S VD L EXWRQXO DOEDVWUX SHQWUX D XUP UL SURJUDPXO FXUHQW LH LQG GLQ DFHDVW RS LXQH +2/' 67, // , 1'(; &+ 6($5&+ &KDQQHO VHDUFK & XWDUH FDQDOH 797(;7 , PDJLQH L WH[W 797(;7 08/7, :, 1'2: $S VD L EXWRQXO 797(;7 L DSRL SH EXWRQXO 08/7, :, 1'2: SHQWUX D Y GHSODVD ñQWUH YL]LRQDUHD WHOHWH[WXOXL L RS LXQHD LPDJLQH L WH[W 2S LXQHD LPDJLQH L WH[W Y SHUPLWH V XUP UL L SURJUDPXO FXUHQW L R SDJLQ GH WHOHWH[W ñQ DFHOD L WLPS ðQ WLPSXO XWLOL] ULL DFHVWHL RS LXQL WHOHFRPDQGD DIHFWHD] SDJLQD GH WHOHWH[W GDF GRUL L VD HIHFWXD L PRGLILF UL OD SURJUDPXO YL]LRQDW DS VD L EXWRQXO 7(/(7(;7 SHQWUX D UHOXD YL]LRQDUHD SURJUDPXOXL DSRL HIHFWXD L PRGLILF ULOH GRULWH 0RGXO 7(/(7(;7 0RGXO SLFWXUH DQW WH[W LPDJLQH L WH[W +2/' 67, // 6WRS FDGUX 6WLOO +2/' 67, // $S VD L DFHVW EXWRQ SHQWUX D ñQJKH D LPDJLQHD DSRL DS VD L GLQ QRX SHQWUX D UHOXD YL]LRQDUHD SURJUDPXOXL FXUHQW 4/, 1. 4/LQN SHUPLWH WHOHYL]RUXOXL V FRPXQLFH FX XQ 9&5 VDX XQ '9' 5HFRUGHU FRPSDWLELO 3HQWUX IXQF LRQDUHD FRPXQLF ULL 4/LQN WHOHYL]RUXO WUHEXLH FRQHFWDW OD XQ GLVSR]LWLY GH ñQUHJLVWUDUH FX ORJRXO l4/LQNl l1(;79, (:/, 1. l l'$7$ /2*, &l l(DV\ /LQNl l0HJDORJLFl VDX l60$57/, 1. l XWLOL] QG XQ FDEOX 6FDUW lSHUIHFW FRQHFWDWl ñQWUH PXID $9 D WHOHYL]RUXOXL L PXID FRUHVSXQ] WRDUH GH SH 9&5XO GXPQHDYRDVWU VL ñQWUH PXID $9 D WHOHYL]RUXOXL L PXID FRUHVSXQ] WRDUH GH SH '9' 5HFRUGHU 3HQWUX FRQHFWDUH OD PXID 6FDUW FRUHVSXQ] WRDUH GH SH GLVSR]LWLYXO GH ñQUHJLVWUDUH FRQVXOWD L PDQXDOXO FX LQVWUXF LXQL GH IRORVLUH D GLVSR]LWLYXOXL & QG XWLOL]D L XQ GLVSR]LWLY l1(;79, (:/, 1. l SULQFLSDOHOH RS LXQL SRVLELOH VXQW XUP WRDUHOH 'HVF UFDUH SUHVWDELOLW $FHDVW RS LXQH SHUPLWH GHVF UFDUHD RUGLQLL SURJUDPHORU GH OD WHOHYL]RU SH GLVSR]LWLYXO GH ñQUHJLVWUDUH DVLJXU QG HIHFWXDUHD XQRU ñQUHJLVWU UL FRUHFWH H[LVW PDL PXOWH PRG OLWD L GH D HIHFWXD DFHDVW RSHUD LH ðQ WLPSXO LQVWDO ULL D D FXP HVWH H[SOLFDW ñQ l, QVWUXF LXQLOH GH 3RUQLUH UDSLG D WHOHYL]RUXOXLl GH OD ñQFHSXWXO SDJLQLL & QG HVWH SRUQLW $XWRFRQILJXUDUHD GLQ 0HQLXO GH UHJODUH D VH YHGHD SDJLQD 'HVF UFDUH SUHVWDELOLW SRUQLW GLQ GLVSR]LWLYXO GH ñQUHJLVWUDUH FRQVXOWD L PDQXDOXO FX LQVWUXF LXQL GH IRORVLUH D GLVSR]LWLYXOXL 1RW LPSRUWDQW 1X WRDWH GLVSR]LWLYHOH GH ñQUHJLVWUDUH VXSRUW DFHVW WLS GH VLVWHP GH FRPXQLFDUH D GDWHORU &RQVXOWD L PDQXDOXO FX LQVWUXF LXQL GH IRORVLUH D GLVSR]LWLYXOXL GH ñQUHJLVWUDUH 'DF 4/LQN QX IXQF LRQHD] DVLJXUD LY PDL ñQW L F WLSXO GH FDEOX 6FDUW HVWH lFRPSOHW FRQHFWDWl 3HQWUX GHWDOLL VXSOLPHQWDUH DGUH DWLY GLVWULEXLWRUXOXL GXPQHDYRDVWU $FHDVW RS LXQH YD SHUPLWH ñQUHJLVWUDUHD LPHGLDW D SURJUDPXOXL DIL DW FXUHQW OD WHOHYL]RU SULQ GLVSR]LWLYXO GH ñQUHJLVWUDUH FRQHFWDW OD PXID 6FDUW FDUH SRDWH IL DOHDV XWLOL] QG l4/LQNl D VH YHGHD SDJLQD  $S VD L EXWRQXO ', 5(&7 79 5(& GH SH WHOHFRPDQG 'DF GLVSR]LWLYXO GH ñQUHJLVWUDUH VH DIO ñQ PRGXO 6WDQGE\ FX PHGLLOH GH ñQUHJLVWUDUH XWLOL]DELOH LQFRUSRU DWH DFHVWD YD IL DFWLYDW DXWRPDW F QG YH L DS VD SH EXWRQXO ', 5(&7 79 5(& 'DF XQ GLVSR]LWLY l4/LQNl HVWH FRQHFWDW SH HFUDQXO WHOHYL]RUXOXL YD DS UHD XQ PHVDM DIL QG FHHD FH VH ñQUHJLVWUHD] VDX DQXQ QG F ñQUHJLVWUDUHD HVWH LPSRVLELO 8QHOH GLVSR]LWLYH l4/LQNl FRPSDWLELOH YRU DIL D PHVDMXO QXPDL F QG VH DIO ñQ SR]L LD  D SURJUDPXOXL 9&5 VDX ñQ PRGXO $9 &RQVXOWD L PDQXDOXO FX LQVWUXF LXQL GH IRORVLUH D GLVSR]LWLYXOXL :KDW <RX 6HH , V :KDW <RX 5HFRUG ð15(*, 675$5( ', 5(&7 79 ðQUHJLVWUDUH ñQ FXUV 'LVSR]LWLYXO GH ñQUHJLVWUDUH ñQUHJLVWUHD] VHPQDOXO SURJUDPXOXL GH OD SURSULXO V X VHOHFWRU GH FDQDOH 'DF GRUL L SXWH L V GHFRQHFWD L WHOHYL]RUXO L V O VD L GLVSR]LWLYXO V ñQUHJLVWUH]H ñQ PRG QRUPDO 1X ñQUHJLVWUHD] YHULILF GLVF FDVHW %DQGD VDX GLVFXO SRDWH IL SURWHMDW  lOD VFULHUHl SRDWH V OLSVHDVF VDX SRDWH IL GHWHULRUDW  'LVSR]LWLYXO SRDWH IL GHMD ñQ FXUV GH ñQUHJLVWUDUH &RQVXOWD L PDQXDOXO FX LQVWUXF LXQL GH IRORVLUH D GLVSR]LWLYXOXL ðQ SOXV F QG IRORVL L XQ GLVSR]LWLY l4/LQNl SULQFLSDOHOH RS LXQL SRVLELOH VXQW XUP WRDUHOH 8UP WRDUHOH RS LXQL VXQW GLVSRQLELOH QXPDL GLQ GLVSR]LWLYXO FRQHFWDW OD PXID 6FDUW VHOHFWDW XWLOL] QG l4/LQNl D VH YHGHD SDJLQD  'DF LQWURGXFH L PHGLL GH SUHñQUHJLVWUDUH ñQ GLVSR]LWLYXO GH ñQUHJLVWUDUH L DS VD L EXWRQXO 3OD\ ñQ WLPS FH WHOHYL]RUXO VH DIO ñQ PRGXO 6WDQE\ WHOHYL]RUXO VH YD FRQHFWD DXWRPDW L YD VHOHFWD LQWUDUHD $9 FRUHFW SHQWUX D SXWHD YL]XDOL]D FRQWLQXWXO & QG WHOHYL]RUXO VH DIO ñQ PRGXO 6WDQGE\ GLVSR]LWLYXO GH ñQUHJLVWUDUH YD WUHFH L HO ñQ PRGXO 6WDQE\ GDF QX HVWH LQFRUSRUDW QLFL XQ PHGLX VDX GDF PHGLLOH VXQW LQFRUSRUDWH L GLVSR]LWLYXO VH DIO ñQ PRGXO l5HZLQGl 'HUXODUH ñQDSRL VDX l6WRSl 'DF 9&5XO GHUXOHD] R EDQG ñQDSRL HO QX YD WUHFH ñQ PRGXO 6WDQGE\ S Q F QG GHUXODUHD QX D OXDW VI U LW 'DF WHOHYL]RUXO VH DIO ñQ PRGXO 6WDQGE\ LDU GLVSR]LWLYXO GH ñQUHJLVWUDUH WULPLWH XQ PHQLX FDUH XUPHD] D IL DIL DW SH HFUDQXO WHOHYL]RUXOXL H[ 0HQLXO SULQFLSDO WHOHYL]RUXO YD IL DFWLYDW DXWRPDW L PHQLXO YD IL DIL DW L DOWH GLVSR]LWLYH SRW VXSRUWD DFHDVW RS LXQH &RQVXOWD L PDQXDOXO FX LQVWUXF LXQL GH IRORVLUH D GLVSR]LWLYXOXL $FHVW WHOHYL]RU YD FRPXQLFD GH DVHPHQHD FX DOWH GLVSR]LWLYH GH ñQUHJLVWUDUH FDUH DX XUP WRDUHOH ORJR XUL k'$7$ /2*, &l R PDUF ñQUHJLVWUDW D 0HW] &RUSRUDWLRQ - k(DV\ /LQNl R PDUF ñQUHJLVWUDW D 3KLOLSV &RUSRUDWLRQ k0HJDORJLFl R PDUF ñQUHJLVWUDW D *UXQGLJ &RUSRUDWLRQ - k60$57/, 1. l R PDUF ñQUHJLVWUDW D 6RQ\ &RUSRUDWLRQ 1RW LPSRUWDQW $FHVWH GLVSR]LWLYH GH ñQUHJLVWUDUH SRW DYHD XQHOH VDX WRDWH IXQF LLOH GH PDL VXV &RQVXOWD L PDQXDOXO FX LQVWUXF LXQL GH IRORVLUH D GLVSR]LWLYXOXL 1X WRDWH GLVSR]LWLYHOH GH ñQUHJLVWUDUH VXSRUW DFHVW WLS GH VLVWHP GH FRPXQLFDUH D GDWHORU 8QHOH SRW VXSRUWD DQXPLWH RS LXQL GDU QX L DOWHOH &RQVXOWD L PDQXDOXO FX LQVWUXF LXQL GH IRORVLUH D GLVSR]LWLYXOXL 8QHOH RS LXQL VXQW GLVSRQLELOH QXPDL GLQ GLVSR]LWLYXO FRQHFWDW OD R PXI 6FDUW VHOHFWDW XWLOL] QG l4/LQNl D VH YHGHD SDJLQD  'DF 4/LQN QX IXQF LRQHD] DVLJXUD LY PDL ñQW L F WLSXO GH FDEOX 6FDUW HVWH lFRPSOHW FRQHFWDWl 3HQWUX GHWDOLL VXSOLPHQWDUH DGUHVD LY GLVWULEXLWRUXOXL GXPQHDYRDVWU 'LVSR]LWLY GH ñQUHJLVWUDUH 79 $XWR 3RZHU 2Q 'LVSR]LWLY GH ñQUHJLVWUDUH $XWR 3RZHU 6WDQGE\ 'LVSR]LWLY GH ñQUHJLVWUDUH , PDJH 9LHZ 2Q 9L]LRQDUH , PDJLQH 2Q )XQF LRQDUHD YLGHR UHFRUGHUXOXL 9&5 L D '9'XOXL 3XSLWUXO GH WHOHFRPDQG 37& SRDWH IL IRORVLW SHQWUX FRPDQGD GH IXQF LRQDUH D PDJQHWRIRQXOXL YLGHRSLFDSXOXL GH GLVFXUL XQLYHUVDOH DXGLRYLGHR ñQ YHGHUHD ñQUHJLVWU ULL VXQHWXOXL L LPDJLQLL '9' 'LYHUVH PDJQHWRIRDQH YLGHR L SLFDSXUL GH GLVFXUL XQLYHUVDOH DXGLRYLGHR GLVSXQ GH GLYHUVH IXQF LL VL GH DFHHD SHQWUX DVLJXUDUHD FRPSDWLELOLW LL VH DGUHVHD] LQVWUXF LXQLORU GH H[SORDWDUH D DFHVWXL XWLODM VDX FH FHUH FRQVXOWD LL GH OD RUJDQL]D LD FRPHUFLDO DSURSULDW '9' 9&5 6WDQGE\ $ WHSWDUH $S VD L SH DFHVW EXWRQ SHQWUX D FRPXWD 9&5XO '9'XO GLVFXO YLGHR YHUVDWLO VDX '9' 5HFRUGHU ñQ PRGXO 6WDQGE\ 3HQWUX FRQHFWDUHD DSDUDWXOXL DS VD L ñQF R GDW SH DFHVW EXWRQ &RPXWDWRUXO 9&5'9' 0DJQHWRIRQ YLGHR'LVF XQLYHUVDO $FHVW FRPXWDWRU VH IRORVH WH SHQWUX DOHJHUHD FRPHQ]LL SLFDSXOXL GH GLVFXUL XQLYHUVDOH DXGLRYLGHR VDX D PDJQHWRIRQXOXL YLGHR 3OD\ 5HSURGXFHUH 3HQWUX UHSURGXFHUHD EHQ]LL VDX GLVFXOXL VH DSDV DFHVW EXWRQ 6WRS 2SULUH 6H DSDV SHQWUX RSULUHD EHQ]LL VDX GLVFXOXL 6NLS 7UHFHUH OD DOW SLVW 5HZLQG 5HERELQDUH ñQDSRL5HYLHZ 9L]LRQDUH 0DJQHWRIRQXO YLGHR 6H DSDV SHQWUX HIHFWXDUHD UHERELQ ULL EHQ]LL ñQDSRL /D DS VDUHD DFHVWXL EXWRQ ñQ UHJLPXO GH UHSURGXFHUH VH HIHFWXHD] UHSURGXFHUHD DFFHOHUDW D EHQ]LL ñQ VHQV LQYHUV 3LFDSXO GLVFXULORU XQLYHUVDOH 6H DSDV R VLQJXU GDW SHQWUX WUHFHUHD OD SLVWD DQWHULRU D GLVFXOXL /D DS VDUHD DFHVWXL EXWRQ ñQ UHJLPXO GH UHSURGXFHUH VH HIHFWXHD] UHSURGXFHUHD DFFHOHUDW D LPDJLQLL ñQ VHQV LQYHUV 6NLS 7UHFHUH OD DOW SLVW 5HZLQG 5HERELQDUH ñQDSRL5HYLHZ 9L]LRQDUH 0DJQHWRIRQXO YLGHR 6H DSDV SHQWUX HIHFWXDUHD UHERELQ ULL EHQ]LL ñQDSRL /D DS VDUHD DFHVWXL EXWRQ ñQ UHJLPXO GH UHSURGXFHUH VH HIHFWXHD] UHSURGXFHUHD DFFHOHUDW D EHQ]LL ñQ VHQV LQYHUV 3LFDSXO GLVFXULORU XQLYHUVDOH 6H DSDV R VLQJXU GDW SHQWUX WUHFHUHD OD SLVWD DQWHULRU D GLVFXOXL 3DXVH 3DX] 6WLOO 2SULUHD LPDJLQLL 6H DSDV ñQ UHJLPXO GH UHSURGXFHUH ñQ UHSURGXFHUHD LPDJLQLL VH LQWURGXFH SDX]D 3HQWUX FRQWLQXDUHD XQHL UHSURGXFHUL QRUPDOH VH DSDV DFHVW EXWRQ ñQF RGDW 3URJUDPPH 8S'RZQ 3URJUDPXO 6XV-RV 6H DSDV DFHVW EXWRQ SHQWUX P ULUHD VDX PLF RUDUHD QXP UXOXL FDQDOXOXL FX R XQLWDWH 5(& 5HFRUG ðQUHJLVWUDUH 6H DSDV DFHVW EXWRQ SHQWUX FRQHFWDUHD ñQUHJLVWU ULL )XQF LRQDUHD WHOHWH[WXOXL - )XQF LLOH WHOHWH[WXOXL VH VFKLPE ñQ IXQF LH GH FRPSDQLD GH GLIX]LXQH L VH HIHFWXHD] QXPDL ñQ FD]XO F QG SH FDQDOXO DOHV VH WUDQVPLWH WHOHWH[W - $S V QG EXWRQXO 3LFWXUH ñQ WLPSXO YL]LRQ ULL ñQ PRG 7HOHWH[W VH YD DIL D IXQF LD GH &RQWUDVWXOXL FX R YHUGH DOE DS VD L * SHQWUX D PRGLILFD UHJODMXO GXS GRULQ - 'XS DS VDUHD EXWRQXOXL 6HWXS OD IXQF LRQDUHD WHOHYL]RUXOXL ñQ UHJLP GH WHOHWH[W ñQ SDUWHD GH MRV D HFUDQXOXL WHOHYL]RUXOXL VH UHSURGXF YDULDQWHOH GH DOHJHUH D IXQF LLORU VSHFLDOH - 3ULQ DS VDUHD EXWRQXOXL 6RXQG ñQ WLPSXO IRORVLULL VHUYLFLXOXL 7HOHWH[W VH YD DIL D IXQF LD 9ROXPH ñQWUR EDU YHUGH DS VD L * SHQWUX V VFKLPED VHWDUHD GXS FXP HVWH QHFHVDU &H SUH]LQW UHJLPXO /, 67" ðQ UHJLPXO GH WHOHWH[W /, 67 ñQ SDUWHD GH MRV D HFUDQXOXL VH UHSURGXF SDWUX QXPHUH GLIHULWH GH SDJLQ )LHFDUH GLQWUH DFHVWH QXPHUH SRDWH IL VFKLPEDW L SRDWH IL ñQUHJLVWUDW ñQ PHPRULD WHOHYL]RUXOXL &H SUH]LQW WHOHWH[WXO )/2)" ðQ UHJLPXO )/2) ñQ SDUWHD GH MRV D HFUDQXOXL VH UHSURGXF SDWUX WHPDWLFL GLIHULWH DY QG FRG FRORUDW 3HQWUX RE LQHUHD XQHL LQIRUPD LL VXSOLPHQWDUH FX SULYLUH OD XQD GLQ DFHVWH WHPDWLFL VH DSDV EXWRQXO FXORULL FRUHVSXQ] WRDUH $FHDVW IXQF LH DVLJXU DFFHVXO UDSLG OD LQIRUPD LD GLQ WHPDWLFD QHFHVDU 797(;7 5HJLPXO WHOHYL]RU7HOHWH[W $S VD L EXWRQXO 7(/(7(;7 SHQWUX D Y GHSODVD ñQWUH SURJUDPXO FXUHQW YL]LRQDW WHOHWH[W L RS LXQHD SLFWXUH DQW WH[W LPDJLQH L WH[W Y SHUPLWH V YL]LRQD L ñQ DFHOD L WLPS SURJUDPXO FXUHQW L R SDJLQ GH WHOHWH[W YH]L SDJ  3DJLQLOH WHOHWH[WXOXL SRW IL DOHVH SULQ GRX SURFHGHXUL D 6H DSDV EXWRDQHOH 6XV-RV SHQWUX P ULUHD VDX PLF RUDUHD QXP UXOXL SDJLQLL FX R XQLWDWH E 6H LQWURGXFH QXP UXO SDJLQLL WHOHWH[WXOXL FX DMXWRUXO EXWRDQHORU FX FLIUH DPSODVDWH SH 37& 6(7 83 $OHJHUHD SDJLQLL WHOHWH[WXOXL3DJH 6HOHFWLRQ 3DJLQD ñQWUHDJ -XP WDWHD GH VXV-XP WDWHD GH MRV 6H DSDV EXWRQXO 6(7 83 SHQWUX UHSURGXFHUHD IXQF LLORU VSHFLDOH GXS FDUH VH DSDV EXWRQXO 9HUGH 6H DSDV EXWRQXO 9HUGH SHQWUX U VWXUQDUHD -80 7 , , '( -26 D SDJLQLL SH WRW HFUDQXO 3HQWUX UHYHQLUHD ñQ UHJLPXO QRUPDO GH UHSURGXFHUH 3$*, 1$ ð175($*  VH DSDV DFHVW EXWRQ ñQF RGDW 6(7 83 'HVFKLGHUHD FXYLQWHORU 6H DSDV EXWRQXO 6(7 83 SHQWUX UHSURGXFHUHD IXQF LLORU VSHFLDOH GXS FDUH VH DSDV EXWRQXO 5R X SHQWUX GHVFKLGHUHDFXYLQWHORU DVFXQVH GH H[HPSOX U VSXQVXUL OD ñQWUHE UL DSODVDWH SH SDJLQD WHOHYLFWRULQHL 3HQWUX ñQFKLGHUHD U VSXQVXULORU VH DSDV DFHVW EXWRQ ñQF RGDW %XWRDQHOH 5R X9HUGH*DOEHQ$OEDVWUX ðQ UHJLPXO GH WHOHWH[W )/2) DFHVWH EXWRDQH FRUHVSXQG FRGXOXL FRORU DO WHPHL ðQ UHJLPXO GH WHOHWH[W /, 67 DFHVWH EXWRDQH FRUHVSXQG FRGXOXL FRORU DO QXP UXOXL SDJLQLL WHOHWH[WXOXL 3 VWUDUHD ñQ PHPRULH SHQWUX UHJLPXO /, 67 675 ðQ UHJLPXO GH WHOHWH[W /, 67 SDWUX QXPHUH GH SDJLQL SRW IL VFKLPEDWH QXPDL SHQWUX FDQDOHOH GH OD S Q OD LQFOXVLY 3HQWUX HIHFWXDUHD DFHVWHL RSHUD LL VH DSDV XQXO GLQ EXWRDQHOH FRORUDWH L VH LQWURGXFH QRXO QXP U DO SDJLQLL 6H DSDV L VH PHQ LQH ñQ SR]L LD DS VDW EXWRQXO 675 QXP UXO SDJLQLL ñ L YD VFKLPED FXORDUHD +2/' 3HQWUX FLWLUHD SDJLQLL WHOHWH[WXOXL 3HQWUX FLWLUHD SDJLQLL WHOHWH[WXOXL DWXQFL F QG VH YL]LRQHD] LQIRUPD LD FDUH FRQ LQH F WHYD SDJLQL 6H DSDV ñQF R GDW SHQWUX UHYHQLUHD ñQ UHJLPXO GH ñQQRLUH DXWRPDW D SDJLQLL )XQF LRQDUHD WHOHWH[WXOXL 1X HVWH SRVLELO VFKLPEDUHD FDQDOXOXL SHQWUX SDJLQD 1HZV IODVK 1RXW L S OS LWRDUH 8SGDWH ðQQRLUH VDX 6XE &RGHG 3DJH $FFHVV $FFHVV OD SDJLQD FX VXEFRG 675 )3 3DJLQD SUHIHUHW )3  &X DMXWRUXO DFHVWXL EXWRQ VH HIHFWXHD] S VWUDUHD ñQ PHPRULH D SDJLQLL QHFHVDUH ñQ VFRSXO FLWLULL LPHGLDWH XOWHULRDUH 3HQWUX PHPRUL]DUHD DFHVWHL SDJLQL WHOHYL]RUXO WUHEXLH V VH J VHDVF ñQ UHJLPXO /, 67 LDU FDQDOXO WUHEXLH V DLE QXP UXO GH OD S Q OD LQFOXVLY 6H DSDV EXWRQXO $OEDVWUX VH DOHJHQXP UXO SDJLQLL L VH UH LQH EXWRQXO 675 1XP UXO SDJLQLL VH YD PHQ LQH ñQ PHPRULH 3HQWUX UHSURGXFHUHD SDJLQLL VH DSDV EXWRQXO )3 5H QQRLUHD GLVSOHLXOXL 6(7 83 $S VD L EXWRQXO 6(7 83 &RQILJXUDUH SHQWUX D DIL D IXQF LLOH VSHFLDOH DSRL EXWRQXO <HOORZ *DOEHQ SHQWUX D YL]LRQD LPDJLQHD GH OD WHOHYL]RU ñQ WLPS FH SDJLQD 7HOHWH[W HVWH F XWDW DFHVW OXFUX QX HVWH QHFHVDU ñQ PRGXO SLFWXUH DQG WH[W LPDJLQH L WH[W GHRDUHFH LPDJLQHD HVWH DIL DW ñQ SDUWHD VW QJ D HFUDQXOXL & QG SDJLQD D IRVW J VLW ñQ FRO XO VXSHULRU GLQ VW QJD DO HFUDQXOXL DSDUH QXP UXO SDJLQLL 3HQWUX YL]LRQDUHD SDJLQLL WHOHWH[WXOXL VH DSDV EXWRQXO *DOEHQ 3HQWUX UHYHQLUHD OD UHJLPXO QRUPDO GH IXQF LRQDUH D WHOHYL]RUXOXL VH DSDV EXWRQXO 797(;7 ñ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ñQ XQJKLXO VXSHULRU GLQ VW QJD DO HFUDQXOXL WHOHYL]RUXOXL DSDUH QXP UXO SDJLQLL 6H DSDV EXWRQXO *DOEHQ GH YL]LRQDUH D SDJLQLL 3HQWUX UHYHQLUHD OD UHJLPXO QRUPDO GH OXFUX DO WHOHYL]RUXOXL VH DSDV EXWRQXO 797(;7 6(7 83 & QG LQIRUPD LLOH 7HOHWH[W GHS HVF R SDJLQ SRDWH GXUD F WYD WLPS S Q FD VXESDJLQD VROLFLWDW V ILH DIL DW ñQ XUPD VFKLPE ULL DXWRPDWH D VXESDJLQLORU 3H P VXU FH VXESDJLQLOH VXQW J VLWH QXP UXO ORU HVWH DIL DW ñQ SDUWHD GH VXV D SDJLQLL DVWIHO ñQF W V O SXWH L VHOHFWD GDF VXQW VHOHFWDWH PDL PXOWH VXESDJLQL DIL DMXO GLQ SDUWHD GH VXV D SDJLQLL VH VFKLPE ñQ D D IHO ñQF W YL VH RIHU R VHOHF LH D SDJLQLORU WUDQVPLVH FHO PDL UHFHQW ðQ PRGXULOH kLPDJLQHl L kWH[Wl IRORVL L EXWRDQHOH FXUVRU GLQ VW QJD L GLQ GUHDSWD SHQWUX D VHOHFWD R VXESDJLQ GLQ JDPD DIL DW ñQ SDUWHD GH VXV D IHUHVWUHL 7HOHWH[W & QG IRORVL L VHUYLFLXO 7HOHWH[W XWLOL]D L XUP WRDUHD SURFHGXU GH DFFHVDUH D SDJLQLORU 'DF SDJLQD SH FDUH GRUL L V R FLWL L QX HVWH ñQF GLVSRQLELO DS VD L EXWRQXO 6(783 SHQWUX DIL DUHD IXQF LLORU VSHFLDOH L DSRL EXWRQXO *DOEHQ SHQWUX D FRPXWD OD LPDJLQHD 79 ñQ WLPS FH D WHSWD L V ILH J VLWH PDL PXOWH VXESDJLQL 6XESDJLQLOH J VLWH YRU IL DIL DWH ñQ SDUWHD GH VXV D HFUDQXOXL & QG VXESDJLQD GH WHOHWH[W HVWH GLVSRQLELO DS VD L EXWRQXO JDOEHQ SHQWUX D UHYHQL OD SDJLQLOH 7HOHWH[W GXS FDUH IRORVL L EXWRDQHOH FXUVRU GLQ VW QJD L GLQ GUHDSWD SHQWUX D VHOHFWD VXESDJLQD GRULW 1RWH - GDF QX GRUL L FD FHOH SDWUX WDVWH FRORUDWH FX IXQF LL VSHFLDOH V ILH DIL DWH SH LPDJLQHD 79 ñQ WLPS FH D WHSWD L V ILH J VLW R VXESDJLQ DS VD L RULFDUH GLQWUH EXWRDQHOH 3, &785( , PDJLQH 6281' 6XQHW VDX 6(783 &RQILJXUD LH SHQWUX D WHUJH WDVWHOH GH SH HFUDQ $S VD L GLQ QRXV WDVWD 6(783 SHQWUX D UHDIL D WDVWHOH - 'DF D L WHUV WDVWHOH FX IXQF LL VSHFLDOH GH SH HFUDQ L DSRL D L XWLOL]DW EXWRDQHOH FXUVRU GLQ VW QJD L GLQ GUHDSWD SHQWUX D VHOHFWD R VXESDJLQ ñQ WLPS FH SH HFUDQ HVWH DIL DW ñQ FRQWLQXDUH LPDJLQHD 79 WUHEXLH V DS VD L EXWRQXO 6(783 L DSRL EXWRQXO *DOEHQ SHQWUX D DIL D GLQ QRX SDJLQD 7HOHWH[W - 'DF ñQ SDUWHD GH VXV D SDJLQLL VH LQGLF IDSWXO F VXESDJLQLOH VXQW WUDQVPLVH GDU SDJLQD DIL DW QX VH VFKLPE DWXQFL kQXP UXO VXESDJLQLLl LQGLF IDSWXO F VD UHDFWXDOL]DW FRQ LQXWXO SDJLQLL L F QX VXQW VXESDJLQL $S VD L EXWRQXO 797(;7 SHQWUX D UHYHQL OD PRGXO GH XWLOL]DUH 79 $OWHUQDWLY GDF WL L FH VXESDJLQ VROLFLWD L DS VD L EXWRQXO 6(783 SHQWUX D DIL D IXQF LL VSHFLDOH DSRL SH EXWRQXO DOEDVWUX 7 YD IL DIL DW DFROR XQGH VH DIO ñQ PRG QRUPDO QXP UXO SDJLQLL 7UHFH L QXP UXO GRULW GH VXESDJLQ ñQDLQWH FD 7 V GLVSDU 'H H[HPSOX SHQWUX D VHOHFWD SDJLQD WUHFH L VL $S VD L EXWRQXO JDOEHQ SHQWUX D YL]LRQD LPDJLQHD 79 ñQ WLPS FH D WHSWD L J VLUHD D PDL PXOWRU VXESDJLQL 6XESDJLQLOH J VLWH YRU IL DIL DWH ñQ SDUWHD VXSHULRDU D HFUDQXOXL & QG SDJLQD HVWH GLVSRQLELO DS VD L EXWRQXO JDOEHQ SHQWUX D YL]XDOL]D SDJLQD , QGLIHUHQW GH F W GH PXOWH SDJLQL VXQW J VLWH DS V QG EXWRQXO JDOEHQ YH L DFFHVD VXESDJLQD SH FDUH D L VROLFLWDWR $FFHVDUHD VXESDJLQLORU , 1'(; , QGH[ $WXQFL F QG IXQF LRQHD] ñQ UHJLP )/2) 6H DSDV EXWRQXO , 1'(; SHQWUX UHYHQLUHD OD SDJLQD SULQFLSDO D LQGH[XOXL ðQ IXQF LH GH SURFHGHXO GH WUDQVPLWHUH D LQIRUPD LHL SHQWUX UHYHQLUHD OD SDJLQD SULQFLSDO D LQGH[XOXL SRW IL QHFHVDUH F WHYD DS V UL DOH EXWRQXOXL &RQHFW UL DXGLR YLGHR 3XWH L FRQHFWD R VHULH GH DOWH HFKLSDPHQWH OD DFHVW WHOHYL]RU ðQ SDJLQLOH XUP WRDUH HVWH GHVFULV PRGXO GH FRQHFWDUH D HFKLSDPHQWHORU H[WHUQH OD WHOHYL]RU DW W ñQ SDUWHD GLQ ID F W L ñQ FHD GLQ VSDWH D DFHVWXLD 2GDW FH HFKLSDPHQWXO HVWH FRQHFWDW SURFHGD L GXS FXP XUPHD] SHQWUX D FRQHFWD DOWH HFKLSDPHQWH OD WHOHYL]RU $S VD L EXWRQXO GH PHQLX 79$9 $S VD L EXWRQXO FRUHVSXQ] WRU GH VHOHFWDUH GH SH HFUDQ SHQWUX D DOHJH VXUVD $9 (FKLSDPHQW DXGLR YLGHR SH FDUH GRUL L V R YL]XDOL]D L GH H[HPSOX DS VD L EXWRQXO YHUGH SHQWUX D VHOHFWD $9 GDF D L FRQHFWDW XQ DSDUDW YLGHR OD PXID 6&$57 $9 %XWRDQHOH GH VHOHFWDUH GH SH HFUDQ GLVSDU GXS F WHYD VHFXQGH 'DF YUH L V VHOHFWD L R RS LXQH F QG EXWRDQHOH QX VXQW DU WDWH DS VD L ñQF R GDW EXWRQXO 79$9 L EXWRDQHOH YRU DS UHD GLQ QRX 1RW - 'H DVHPHQHD SXWH L VHOHFWD R VXUV $9 DXGLRYLGHR IRORVLQG EXWRQXO 79$9 GH SH SDQRXO GH RPDQG GH SH SDUWHD GLQ ID D WHOHYL]RUXOXL GXPQHDYRDVWU $S VD L EXWRQXO 79$9 ñQ PRG UHSHWDW S Q F QG DMXQJH L OD VXUVD $9 SH FDUH GRUL L V R YL]LRQD L - ðQ PRGXO $9 VXQW GLVSRQLELOH SX LQH RS LXQL GLQ PHQLXULOH 6281' 6XQHW L 6(783 &RQILJXUDUH GH H[HPSOX ñQ PHQLXO 6HWXS QX H[LVW RS LXQHD 7XQLQJ PHQX 0HQLX UHJODUH 79$9 79$9 0XIHOH GLQ ID 6H SRW FRQHFWD HFKLSDPHQWH VXSOLPHQWDUH ñQ SDUWHD GLQ ID DXGLR YLGHR 5&$ $9 L R PXI SHQWUX F WL D WHOHYL]RUXOXL SULQ LQWHUPHGLXO PXIHL YLGHR FX SLQL 6 $9 PXIHOH 6HPQDO GH LH LUH GLQ MDFXO +HDGSKRQH & WL 69 , QWUDUH YLGHR ñQ PXID 69LGHR 6HPQDOXO YLGHR GH LQWUDUH OD MDFXO 9 &DEOXO VHPQDOXOXL YLGHR FX IL 5&$ , QWUDUH $XGLR ñQ PXIHOH / 5 6W QJD 'UHDSWD &DEOXO VHPQDOXOXL DXGLR FX GRX IL H 5&$ WHFKHU VWHUHRIRQLF PP & 7, 67(5(2)21, &( &8 7(&+(5 00 &$0(5 9, '(2 1RW - $SDUDWXUD VXSOLPHQWDU L FDEOXULOH LQGLFDWH ñQ ILJXU QX LQWU ñQ FRPSOHWXO WHOHYL]RUXOXL - 3HQWUX LQIRUPD LL SULYLQG FRQHFWDUHD PXIHL 6 9LGHR YH]L SDJLQD &RQHFW UL DXGLR YLGHR 0XIHOH GLQ VSDWH (FKLSDPHQWXO VXSOLPHQWDU SRDWH IL FRQHFWDW OD SDUWHD GLQ VSDWH D WHOHYL]RUXOXL SULQ LQWHUPHGLXO D WUHL PXIH 6FDUW FX SLQL $9 $96 $9 6& $9 , QWUDUH $9& &RPSRQHQW [ 5&$ 9LGHR &DEOHV , H LUH DXGLR /5 VW QJDGUHDSWD 1RW $FHVW WHUPLQDO DFFHSW IRUPDW QRUPDO LQWHUFDODW SUHFXP L IRUPDW SURJUHVLY &DEOX FX IL 6&$57 &DEOX FX IL 6&$57 &DEOX FX IL 6&$57 &DEOX FX IL 6&$57 , QWUDUH, H LUH GLQ MDFXO 6&$57 $9 , QWUDUH, H LUH GLQ MDFXO 6&$57 $9 , QWUDUH, H LUH GLQ IL D 6&$57 $9 GDWH 4OLQLH , QWUDUH, H LUH GLQ IL D 6&$57 $9 GDWH 4OLQLH 0$*1(72)21 9, '(2 0$*1(72)21 9, '(2 0$*1(72)21 9, '(2 '9' 5HFRUGHU FRPSDWLELO 4/LQN 0$*1(72)21 9, '(2 69, '(2 '9' 3/$<(5 4/, 1. [. . . ] [. . . ]