$MXVWHRVERW}HVGHFRQWURORGDYHORFLGDGHFRPDPmR
HVTXHUGD
3UHVVLRQHRERWmRGHFRQWURORGDYHORFLGDGHQD
GLUHomRGRVtPERORGR&RHOKRSDUDDXPHQWDUD
YHORFLGDGH
3X[HRERWmRGHFRQWURORGDYHORFLGDGHQDGLUHomRGR
VtPERORGD7DUWDUXJDSDUDGLPLQXLUDYHORFLGDGH
/LEHUWHDDODYDQFDLPSXOVLRQDGDDXWRPDWLFDPHQWHSDUD
SDUDURVLVWHPDGHLPSXOVmRDXWRPiWLFD
(69$=,$526$&2'(5(&2/+$
'$5(/9$
,PDJHP
3DUHDPiTXLQD
5HWLUHDFKDYHGHVHJXUDQoD
5HWLUHDEDWHULD
$EUDDSRUWDGHGHVFDUJDWUDVHLUDHVHJXUHD
6HJXUHRVDFRGHUHFROKDGDUHOYDSHODSHJDHOLEHUWHRGD
KDVWHGDSRUWD
)HFKHDSRUWDGHGHVFDUJDWUDVHLUD
(VYD]LHRVDFRGHUHFROKDGDUHOYD
87,/,=$d2(0(1&267$6
$9,62
1mRFRUWHDUHOYDHPHQFRVWDVFRPXPDLQFOLQDomRVXSHULRU
D6HQmRVHVHQWLUFRQIRUWiYHOQmRFRUWHDUHOYDHP
HQFRVWDV
$9,62
0DQWHQKDXPDYHORFLGDGHLPSXOVLRQDGDDXWRPDWLFDPHQWH
EDL[DTXDQGRFRUWDUDUHOYDHPHQFRVWDV
1mRVXEDHGHVoDQXPDHQFRVWDTXDQGRFRUWDUDIUHQWHGD
HQFRVWD7HQKDFXLGDGRTXDQGRPXGDUGHGLUHomRQXPD
HQFRVWD
3URFXUHSRUEXUDFRVUDt]HVURFKDVHRXWURVREMHWRV
HVFRQGLGRVTXHRSRVVDPID]HUFDLU5HWLUHWRGRVRV
REVWiFXORVFRPRURFKDVHUDPRVGHiUYRUHV
&HUWLILTXHVHGHTXHPDQWpPXPDSRVWXUDHTXLOLEUDGD6H
ILFDUGHVHTXLOLEUDGROLEHUWHLPHGLDWDPHQWHRLQWHUUXSWRU
GHDVD
1mRFRUWHDUHOYDSHUWRGHIRVVRVYDODVRXDWHUURV
',&$6'()81&,21$0(172
1mRWHQWHDQXODURIXQFLRQDPHQWRGRERWmRGHLQLFLDU
QHPGRLQWHUUXSWRUGHDVD
1mRLQFOLQHDPiTXLQDTXDQGRDOLJDU
1mRFRORTXHDVPmRVRXSpVSHUWRRXGHEDL[RGDVSHoDV
URWDWLYDV
0DQWHQKDDVDtGDGHGHVFDUJDOLPSD
1mRFRUWHHUYDPROKDGD
eQHFHVViULDXPDDOWXUDVXSHULRUGDOkPLQDSDUDUHOYD
QRYDRXJURVVD
/LPSHRIXQGRGDPiTXLQDGHFRUWDUUHOYDDSyVFDGD
XWLOL]DomR5HWLUHDUHOYDFRUWDGDIROKDVVXMLGDGHHRXWURV
UHVtGXRV
0$187(1d2
&8,'$'2
1mRSHUPLWDTXHIOXLGRGRVWUDY}HVJDVROLQDPDWHULDLVj
EDVHGHSHWUyOHRWRTXHPQDVSHoDVGHSOiVWLFR2VTXtPLFRV
SRGHPFDXVDUGDQRVQRSOiVWLFRHWRUQiORLUUHSDUiYHO
&8,'$'2
1mRXWLOL]HVROYHQWHVIRUWHVRXGHWHUJHQWHVQDHVWUXWXUDGH
SOiVWLFRRXFRPSRQHQWHV
$9,62
5HWLUHDEDWHULDGDPiTXLQDDQWHVGHSURFHGHUj
PDQXWHQomR
0$187(1d2*(5$/
$QWHVGHFDGDXWLOL]DomRLQVSHFLRQHDPiTXLQDTXDQWRD
SHoDVGDQLILFDGDVHPIDOWDRXVROWDVFRPRSDUDIXVRV
SRUFDVWDPSDVHWF
$SHUWHFRUUHWDPHQWHWRGRVRVIL[DGRUHVHWDPSDV
/LPSHDPiTXLQDFRPXPSDQRVHFR1mRXVHiJXD
68%67,78,d2'$/Æ0,1$
,PDJHP
$9,62
8VHDSHQDVOkPLQDVVREUHVVHOHQWHVDSURYDGDV
$9,62
8VHOXYDVUHVLVWHQWHVTXDQGRWRFDUQDOkPLQD
3DUHDPiTXLQD
&HUWLILTXHVHGHTXHDOkPLQDSiUDSRUFRPSOHWR
5HWLUHDFKDYHGHVHJXUDQoDHDEDWHULD
9LUHDPiTXLQDGHFRUWDUUHOYDGHODGR
&RORTXHXPSHGDoRGHPDGHLUDQDEDVHSDUDHYLWDUR
PRYLPHQWRGDOkPLQD
5HWLUHRSDUDIXVRGHIL[DomRHRVHVSDoDGRUHVFRPXPD
FKDYH
5HWLUHDOkPLQD
,QVWDOHXPDQRYDOkPLQD&HUWLILTXHVHGHTXHDVVHWDV
HQFDL[DPQRVRULItFLRVGDOkPLQD
,QVLUDRSDUDIXVRGHIL[DomRHDSHUWH%LQiULRGHDSHUWR
UHFRPHQGDGR10
3RUWXJXrV
37