manuals.online logo
Brands
  1. Home
  2. •
  3. Brands
  4. •
  5. Hitachi
  6. •
  7. Air Conditioner
  8. •
  9. Hitachi RWM-2.0FSN3E User manual

Hitachi RWM-2.0FSN3E User manual

This manual suits for next models

12

Other Hitachi Air Conditioner manuals

Hitachi airHome MultiPro RAM-G36N2HAE User manual

Hitachi

Hitachi airHome MultiPro RAM-G36N2HAE User manual

Hitachi RAD-E50YHA User manual

Hitachi

Hitachi RAD-E50YHA User manual

Hitachi RAC-18MH1 User manual

Hitachi

Hitachi RAC-18MH1 User manual

Hitachi RAK-18QH8SW User manual

Hitachi

Hitachi RAK-18QH8SW User manual

Hitachi YUTAKI Series User manual

Hitachi

Hitachi YUTAKI Series User manual

Hitachi RAI-25NH4 User manual

Hitachi

Hitachi RAI-25NH4 User manual

Hitachi RAF-25PXA User manual

Hitachi

Hitachi RAF-25PXA User manual

Hitachi airHome 300 User manual

Hitachi

Hitachi airHome 300 User manual

Hitachi RAS-DX18HDK User manual

Hitachi

Hitachi RAS-DX18HDK User manual

Hitachi RAC-50FPA User manual

Hitachi

Hitachi RAC-50FPA User manual

Hitachi RAD-18QPB User manual

Hitachi

Hitachi RAD-18QPB User manual

Hitachi RAK-AH10PCASM/RAC-AH10PCASM User manual

Hitachi

Hitachi RAK-AH10PCASM/RAC-AH10PCASM User manual

Hitachi RAS-18C9G User manual

Hitachi

Hitachi RAS-18C9G User manual

Hitachi RAK-AJ10PCASM User manual

Hitachi

Hitachi RAK-AJ10PCASM User manual

Hitachi RAS-18YH4 User manual

Hitachi

Hitachi RAS-18YH4 User manual

Hitachi RA-08KF Specification sheet

Hitachi

Hitachi RA-08KF Specification sheet

Hitachi RAS-18SH3 User manual

Hitachi

Hitachi RAS-18SH3 User manual

Hitachi RAS-14G4 User manual

Hitachi

Hitachi RAS-14G4 User manual

Hitachi RAS-13EX9KS2 User manual

Hitachi

Hitachi RAS-13EX9KS2 User manual

Hitachi RAS-10MH1 User manual

Hitachi

Hitachi RAS-10MH1 User manual

Hitachi R32/R410A Series User manual

Hitachi

Hitachi R32/R410A Series User manual

Hitachi RAF25NH4 User manual

Hitachi

Hitachi RAF25NH4 User manual

Hitachi Summit RAS-50FH5 User manual

Hitachi

Hitachi Summit RAS-50FH5 User manual

Hitachi RAC-18WSC User manual

Hitachi

Hitachi RAC-18WSC User manual

Popular Air Conditioner manuals by other brands

Fujitsu ASYG 09 LLCA installation manual

Fujitsu

Fujitsu ASYG 09 LLCA installation manual

York HVHC 07-12DS Installation & owner's manual

York

York HVHC 07-12DS Installation & owner's manual

Carrier Fan Coil 42B Installation, operation and maintenance manual

Carrier

Carrier Fan Coil 42B Installation, operation and maintenance manual

intensity IDUFCI60KC-3 installation manual

intensity

intensity IDUFCI60KC-3 installation manual

Frigidaire FAC064K7A2 Factory parts catalog

Frigidaire

Frigidaire FAC064K7A2 Factory parts catalog

Sanyo KS2432 instruction manual

Sanyo

Sanyo KS2432 instruction manual

LG MultiV Series installation manual

LG

LG MultiV Series installation manual

CLIMAVENETA a-CHD U-2T 606+2209 OPERATING AND INSTALLATION Manual

CLIMAVENETA

CLIMAVENETA a-CHD U-2T 606+2209 OPERATING AND INSTALLATION Manual

Midea EWK06CW5 user manual

Midea

Midea EWK06CW5 user manual

Pioneer FAB Series installation manual

Pioneer

Pioneer FAB Series installation manual

SPT WA-1511S user manual

SPT

SPT WA-1511S user manual

Mitsubishi Electric Mr.Slim MSZ-A24NA operating instructions

Mitsubishi Electric

Mitsubishi Electric Mr.Slim MSZ-A24NA operating instructions

Mitsubishi Electric PUHZ-RP50VHA4 Service manual

Mitsubishi Electric

Mitsubishi Electric PUHZ-RP50VHA4 Service manual

Panasonic CS-S18HKQ Service manual

Panasonic

Panasonic CS-S18HKQ Service manual

Panasonic CS-E15NKE3 operating instructions

Panasonic

Panasonic CS-E15NKE3 operating instructions

Gree GWH18TC-K3DNA1B/I Service manual

Gree

Gree GWH18TC-K3DNA1B/I Service manual

Friedrich ZoneAire Compact P08SA owner's manual

Friedrich

Friedrich ZoneAire Compact P08SA owner's manual

Daikin R32 Split Series installation manual

Daikin

Daikin R32 Split Series installation manual

manuals.online logo
manuals.online logoBrands
  • About & Mission
  • Contact us
  • Privacy Policy
  • Terms and Conditions

Copyright 2025 Manuals.Online. All Rights Reserved.

INSTALLATION AND OPERATION MANUAL
MANUAL DE INSTALACIÓN Y FUNCIONAMIENTO
INSTALLATIONS- UND BETRIEBSHANDBUCH
MANUEL D’INSTALLATION ET DE FONCTIONNEMENT
MANUALE D’INSTALLAZIONE E D’USO
MANUAL DE INSTALAÇÃO E DE FUNCIONAMENTO
INSTALLATIONS- OG BETJENINGSVEJLEDNING
INSTALLATIE- EN BEDIENINGSHANDLEIDING
INSTALLATIONS- OCH DRIFTHANDBOK
ǼīȋǼǿȇǿǻǿȅ ǼīȀǹȉǹȈȉǹȈǾȈ Ȁǹǿ ȁǼǿȉȅȊȇīǿǹȈ
YUTAKI S Series
RAS-(2-6)(HVRN2/H(V)RNME-AF)
RWM-(2.0-6.0)FSN3E
Indoor Unit
English
6SHFL¿FDWLRQVLQWKLVPDQXDODUHVXEMHFWWRFKDQJHZLWKRXWQRWLFHLQRUGHUWKDW+,7$&+,PD\EULQJWKHODWHVWLQQRYDWLRQVWR
WKHLUFXVWRPHUV:KLOVWHYHU\HIIRUWLVPDGHWRHQVXUHWKDWDOOVSHFL¿FDWLRQVDUHFRUUHFWSULQWLQJHUURUVDUHEH\RQG+LWDFKL¶V
FRQWURO+LWDFKLFDQQRWEHKHOGUHVSRQVLEOHIRUWKHVHHUURUV
Español
/DVHVSHFL¿FDFLRQHVGHHVWHPDQXDOHVWiQVXMHWDVDFDPELRVVLQSUHYLRDYLVRD¿QGHTXH+,7$&+,SXHGDRIUHFHUODV
~OWLPDVLQQRYDFLRQHVDVXVFOLHQWHV
$SHVDUGHTXHVHKDFHQWRGRVORVHVIXHU]RVSRVLEOHVSDUDDVHJXUDUVHGHTXHODVHVSHFL¿FDFLRQHVVHDQFRUUHFWDVORV
HUURUHVGHLPSUHVLyQHVWiQIXHUDGHOFRQWUROGH+,7$&+,DTXLHQQRVHKDUiUHVSRQVDEOHGHHOORV
Deutsch
%HLGHQWHFKQLVFKHQ$QJDEHQLQGLHVHP+DQGEXFKVLQGbQGHUXQJHQYRUEHKDOWHQGDPLW+,7$&+,VHLQHQ.XQGHQGLHMHZHLOVQHXHVWHQ
,QQRYDWLRQHQSUlVHQWLHUHQNDQQ
6lPWOLFKH$QVWUHQJXQJHQZXUGHQXQWHUQRPPHQXPVLFKHU]XVWHOOHQGDVVDOOHWHFKQLVFKHQ,QIRUPDWLRQHQRKQH)HKOHUYHU|IIHQWOLFKW
ZRUGHQVLQG)U'UXFNIHKOHUNDQQ+,7$&+,MHGRFKNHLQH9HUDQWZRUWXQJEHUQHKPHQGDVLHDXHUKDOELKUHU.RQWUROOHOLHJHQ
France
/HVFDUDFWpULVWLTXHVSXEOLpHVGDQVFHPDQXHOSHXYHQWrWUHPRGL¿pHVVDQVSUpDYLV+,7$&+,VRXKDLWDQWSRXYRLUWRXMRXUVRIIULUjVHV
FOLHQWVOHVGHUQLqUHVLQQRYDWLRQV
%LHQTXHWRXVOHVHIIRUWVVRQWIDLWVSRXUDVVXUHUO¶H[DFWLWXGHGHVFDUDFWpULVWLTXHVOHVHUUHXUVG¶LPSUHVVLRQVRQWKRUVGXFRQWU{OHGH+,-
7$&+,TXLQHSRXUUDLWHQrWUHWHQXUHVSRQVDEOH
Italiano
/HVSHFL¿FKHGLTXHVWRPDQXDOHVRQRVRJJHWWHDPRGL¿FDVHQ]DSUHDYYLVRDI¿QFKp+,7$&+,SRVVDRIIULUHDLSURSULFOLHQWLOHXOWLPH
QRYLWj
6HEEHQHVLDVWDWDSRVWDODPDVVLPDFXUDQHOJDUDQWLUHODFRUUHWWH]]DGHLGDWL+,7$&+,QRQqUHVSRQVDELOHSHUHYHQWXDOLHUURULGLVWDP-
SDFKHHVXODQRGDOSURSULRFRQWUROOR
Português
$V HVSHFL¿FDo}HV DSUHVHQWDGDV QHVWH PDQXDO HVWmR VXMHLWDV D DOWHUDo}HV VHP DYLVR SUpYLR GH PRGR D TXH
D +,7$&+, SRVVD RIHUHFHU DRV VHXV FOLHQWHV GD IRUPD PDLV H[SHGLWD SRVVtYHO DV LQRYDo}HV PDLV UHFHQWHV
$SHVDUGHVHUHPIHLWRVWRGRVRVHVIRUoRVSDUDDVVHJXUDUTXHWRGDVDVHVSHFL¿FDo}HVDSUHVHQWDGDVVmRFRUUHFWDVTXDLV-
TXHUHUURVGHLPSUHVVmRHVWmRIRUDGRFRQWURORGD+,7$&+,TXHQmRSRGHVHUUHVSRQVDELOL]DGDSRUHVWHVHUURVHYHQWXDLV
Dansk
6SHFL¿NDWLRQHUQHLGHQQHYHMOHGQLQJNDQQGUHVXGHQYDUVHOIRUDW+,7$&+,NDQEULQJHGHQ\HVWHLQQRYDWLRQHUXGWLONXQGHUQH
3nWURGVDIDOOHDQVWUHQJHOVHUIRUDWVLNUHDWDOOHVSHFL¿NDWLRQHUQHHUNRUUHNWHKDU+LWDFKLLNNHNRQWURORYHUWU\NIHMORJ+L-
WDFKLNDQLNNHKROGHVDQVYDUOLJKHUIRU
Nederlands
'HVSHFL¿FDWLHVLQGH]HKDQGOHLGLQJNXQQHQZRUGHQJHZLM]LJG]RQGHUYHUGHUHNHQQLVJHYLQJ]RGDW+,7$&+,]LMQNODQWHQNDQYRRU]LHQ
YDQGHQLHXZVWHLQQRYDWLHV
,HGHUHSRJLQJZRUGWRQGHUQRPHQRPWH]RUJHQGDWDOOHVSHFL¿FDWLHVMXLVW]LMQ9RRUNRPHQGHGUXNIRXWHQNXQQHQHFKWHUQLHWGRRU+LWDFKL
ZRUGHQJHFRQWUROHHUGZDDUGRRU+LWDFKLQLHWDDQVSUDNHOLMNNDQZRUGHQJHVWHOGYRRUGH]HIRXWHQ
Svenska
6SHFL¿NDWLRQHUQDLGHQKlUKDQGERNHQNDQlQGUDVXWDQI|UHJnHQGHPHGGHODQGHI|UDWW+,7$&+,VNDNXQQDOHYHUHUDGHVHQDVWHLQQRYD-
WLRQHUQDWLOONXQGHUQD
9LSn+LWDFKLJ|UDOOWYLNDQI|UDWWVHWLOODWWDOODVSHFL¿NDWLRQHUVWlPPHUPHQYLKDULQJHQNRQWUROO|YHUWU\FNIHORFKNDQGlUI|ULQWHKnOODV
DQVYDULJDI|UGHQW\SHQDYIHO
(ȜȜKQLND
ȅȚʌȡȠįȚĮȖȡĮijȑȢIJȠȣİȖȤİȚȡȚįȓȠȣȝʌȠȡȠȪȞȞĮĮȜȜȐȟȠȣȞȤȦȡȓȢʌȡȠİȚįȠʌȠȓȘıȘʌȡȠțİȚȝȑȞȠȣȘ+,7$&+,ȞĮʌĮȡȑȤİȚIJȚȢIJİȜİȣIJĮȓİȢ
țĮȚȞȠIJȠȝȓİȢıIJȠȣȢʌİȜȐIJİȢIJȘȢ
ǹȞțĮȚȑȤİȚȖȓȞİȚțȐșİʌȡȠıʌȐșİȚĮʌȡȠțİȚȝȑȞȠȣȞĮİȟĮıijĮȜȚıIJİȓȩIJȚȠȚʌȡȠįȚĮȖȡĮijȑȢİȓȞĮȚıȦıIJȑȢȘ+LWDFKLįİȞȝʌȠȡİȓȞĮİȜȑȖȟİȚIJĮ
IJȣʌȠȖȡĮijȚțȐȜȐșȘțĮȚȦȢİțIJȠȪIJȠȣįİȞijȑȡİȚțĮȝȓĮİȣșȪȞȘȖȚĮĮȣIJȐIJĮȜȐșȘ
 & $ 8 7 , 2 1
7KLVSURGXFWVKDOOQRWEHPL[HGZLWKJHQHUDOKRXVHZDVWHDWWKHHQGRILWVOLIHDQGLWVKDOOEHUHWLUHGDFFRUGLQJWRWKHDSSURSULD-
WHGORFDORUQDWLRQDOUHJXODWLRQVLQDHQYLURQPHQWDOO\FRUUHFWZD\
'XHWRWKHUHIULJHUDQWRLODQGRWKHUFRPSRQHQWVFRQWDLQHGLQ$LU&RQGLWLRQHULWVGLVPDQWOLQJPXVWEHGRQHE\DSURIHVVLRQDO
LQVWDOOHUDFFRUGLQJWRWKHDSSOLFDEOHUHJXODWLRQV
&RQWDFWWRWKHFRUUHVSRQGLQJDXWKRULWLHVIRUPRUHLQIRUPDWLRQ
 3 5 ( & $ 8 & , Ï 1
eVWHSURGXFWRQRVHGHEHHOLPLQDUFRQODEDVXUDGRPpVWLFDDO¿QDOGHVXYLGD~WLO\VHGHEHGHVHFKDUGHPDQHUDUHVSHWXRVD
FRQHOPHGLRDPELHQWHGHDFXHUGRFRQORVUHJODPHQWRVORFDOHVRQDFLRQDOHVDSOLFDEOHV
'HELGRDOUHIULJHUDQWHHODFHLWH\RWURVFRPSRQHQWHVFRQWHQLGRVHQHOVLVWHPDGHDLUHDFRQGLFLRQDGRVXGHVPRQWDMHGHEH
UHDOL]DUORXQLQVWDODGRUSURIHVLRQDOGHDFXHUGRFRQODQRUPDWLYDDSOLFDEOH
3DUDREWHQHUPiVLQIRUPDFLyQSyQJDVHHQFRQWDFWRFRQODVDXWRULGDGHVFRPSHWHQWHV
 9 2 5 6 , & + 7
'DVV,KU3URGXNWDP(QGHVHLQHU%HWULHEVGDXHUQLFKWLQGHQDOOJHPHLQHQ+DXVPOOJHZRUIHQZHUGHQGDUIVRQGHUQHQWVSUH-
FKHQGGHQJHOWHQGHQ|UWOLFKHQXQGQDWLRQDOHQ%HVWLPPXQJHQDXIXPZHOWIUHXQGOLFKH:HLVHHQWVRUJWZHUGHQPXVV
$XIJUXQGGHV.lOWHPLWWHOVGHVgOVXQGDQGHUHULQGHU.OLPDDQODJHHQWKDOWHQHU.RPSRQHQWHQPXVVGLH'HPRQWDJHYRQHLQHP
)DFKPDQQHQWVSUHFKHQGGHQJHOWHQGHQ9RUVFKULIWHQGXUFKJHIKUWZHUGHQ
)UZHLWHUH,QIRUPDWLRQHQVHW]HQ6LHVLFKELWWHPLWGHQHQWVSUHFKHQGHQ%HK|UGHQLQ9HUELQGXQJ
$ ' 9 ( 5 7 , 6 6 ( 0 ( 1 7
1HGRLWSDVrWUHPpODQJpDX[RUGXUHVPpQDJqUHVRUGLQDLUHVjOD¿QGHVDYLHXWLOHHWTX¶LOGRLWrWUHpOLPLQpFRQIRUPpPHQWjOD
UpJOHPHQWDWLRQORFDOHRXQDWLRQDOHGDQVOHSOXVVWULFWUHVSHFWGHO¶HQYLURQQHPHQW
(QUDLVRQGXIULJRULJqQHGHO¶KXLOHHWGHVDXWUHVFRPSRVDQWVTXHOHFOLPDWLVHXUFRQWLHQWVRQGpPRQWDJHGRLWrWUHUpDOLVpSDU
XQLQVWDOODWHXUSURIHVVLRQQHOFRQIRUPpPHQWDX[UpJOHPHQWDWLRQVHQYLJXHXU
$9 9 ( 5 7 ( 1 = (
,QGLFD]LRQLSHULOFRUUHWWRVPDOWLPHQWRGHOSURGRWWRDLVHQVLGHOOD'LUHWWLYD(XURSHD(&H'OJVOXJOLRQ
,OVLPERORGHOFDVVRQHWWREDUUDWRULSRUWDWRVXOO¶DSSDUHFFKLDWXUDLQGLFDFKHLOSURGRWWRDOOD¿QHGHOODSURSULDYLWDXWLOHGHYHHV-
VHUHUDFFROWRVHSDUDWDPHQWHGDJOLDOWULUL¿XWL
/¶XWHQWHGRYUjSHUWDQWRFRQIHULUHO¶DSSDUHFFKLDWXUDJLXQWDD¿QHYLWDDJOLLGRQHLFHQWULGLUDFFROWDGLIIHUHQ]LDWDGHLUL¿XWLHOHW-
WURQLFLHGHOHWWURWHFQLFLRSSXUHULFRQVHJQDUODDOULYHQGLWRUHDOPRPHQWRGHOO¶DFTXLVWRGLXQDQXRYDDSSDUHFFKLDWXUDGLWLSR
HTXLYDOHQWH
/¶DGHJXDWDUDFFROWDGLIIHUHQ]LDWDGHOOHDSSDUHFFKLDWXUHGLVPHVVHSHULOORURDYYLRDOULFLFODJJLRDOWUDWWDPHQWRHGDOORVPDOWL-
PHQWRDPELHQWDOPHQWHFRPSDWLELOHFRQWULEXLVFHDGHYLWDUHSRVVLELOLHIIHWWLQHJDWLYLVXOO¶DPELHQWHHVXOODVDOXWHHIDYRULVFHLO
ULFLFORGHLPDWHULDOLGLFXLqFRPSRVWDO¶DSSDUHFFKLDWXUD
1RQWHQWDWHGLVPRQWDUHLOVLVWHPDRO¶XQLWjGDVROLSRLFKqFLzSRWUHEEHFDXVDUHHIIHWWLGDQQRVLVXOODYRVWUDVDOXWHRVXOO¶DP-
ELHQWH
9RJOLDWHFRQWDWWDUHO¶LQVWDOODWRUHLOULYHQGLWRUHROHDXWRULWjORFDOLSHUXOWHULRULLQIRUPD]LRQL
/RVPDOWLPHQWRDEXVLYRGHOSURGRWWRGDSDUWHGHOO¶XWHQWHSXzFRPSRUWDUHO¶DSSOLFD]LRQHGHOOHVDQ]LRQLDPPLQLVWUDWLYHGLFXL
DOO¶DUWLFRORHVHJXHQWLGHO'/JVQ
 & 8 , ' $ ' 2
2VHXSURGXWRQmRGHYHVHUPLVWXUDGRFRPRVGHVSHUGtFLRVGRPpVWLFRVGHFDUiFWHUJHUDOQR¿QDOGDVXDGXUDomRHTXHGHYH
VHUHOLPLQDGRGHDFRUGRFRPRVUHJXODPHQWRVORFDLVRXQDFLRQDLVDGHTXDGRVGHXPDIRUPDFRUUHFWDSDUDRPHLRDPELHQWH
'HYLGRDRUHIULJHUDQWHDRyOHRHDRXWURVFRPSRQHQWHVFRQWLGRVQR$UFRQGLFLRQDGRDGHVPRQWDJHPGHYHVHUUHDOL]DGDSRU
XPLQVWDODGRUSUR¿VVLRQDOGHDFRUGRFRPRVUHJXODPHQWRVDSOLFiYHLV
&RQWDFWHDVDXWRULGDGHVFRUUHVSRQGHQWHVSDUDREWHUPDLVLQIRUPDo}HV
$ ' 9$ 6 ( / 
$WSURGXNWHWLNNHPnVPLGHVXGVDPPHQPHGDOPLQGHOLJWKXVKROGQLQJVDIIDOGPHQVNDOERUWVNDIIHVLRYHUHQVVWHP-
PHOVHPHGGHJOGHQGHORNDOHHOOHUQDWLRQDOHUHJOHUSnHQPLOM¡PVVLJNRUUHNWPnGH
'DNOLPDDQOJJHWLQGHKROGHUN¡OHPLGGHOROLHVDPWDQGUHNRPSRQHQWHUVNDODIPRQWHULQJIRUHWDJHVDIHQIDJPDQGL
RYHUHQVVWHPPHOVHPHGGHJOGHQGHEHVWHPPHOVHU
.RQWDNWGHSnJOGHQGHP\QGLJKHGHUIRUDWIn\GHUOLJHUHRSO\VQLQJHU
 9 2 2 5 = , & + 7 , *
'LWKRXGWLQGDWXZSURGXFWQLHWZRUGWJHPHQJGPHWJHZRRQKXLVYXLOZDQQHHUXKHWZHJGRHWHQGDWKHWZRUGWJHVFKHLGHQRS
HHQPLOLHXYULHQGHOLMNHPDQLHUYROJHQVGHJHOGLJHSODDWVHOLMNHHQODQGHOLMNHUHJXOHULQJHQ
9DQZHJHKHWNRHOPLGGHOGHROLHHQDQGHUHRQGHUGHOHQLQGHDLUFRQGLWLRQHUPRHWKHWDSSDUDDWYROJHQVGHJHOGLJHUHJXOHULQJ
GRRUHHQSURIHVVLRQHOHLQVWDOODWHXUXLWHONDDUJHKDDOGZRUGHQ
1HHPFRQWDFWRSPHWGHEHWUHIIHQGHRYHUKHLGVGLHQVWYRRUPHHULQIRUPDWLH
 ) g 5 6 , . 7 , * + ( 7
'HWLQQHElUDWWSURGXNWHQLQWHVNDVOlQJDVWLOOVDPPDQVPHGYDQOLJWKXVKnOOVDYIDOOXWDQNDVVHUDVSnHWWPLOM|YlQOLJWVlWWLHQ-
OLJKHWPHGJlOODQGHORNDOHOOHUQDWLRQHOOODJVWLIWQLQJ
/XIWNRQGLWLRQHULQJVDJJUHJDWHWLQQHKnOOHUN\OPHGLXPROMDRFKDQGUDNRPSRQHQWHUYLONHWJ|UDWWGHWPnVWHGHPRQWHUDVDYHQ
IDFNPDQLHQOLJKHWPHGWLOOlPSOLJDUHJHOYHUN
7DNRQWDNWPHGDQVYDULJP\QGLJKHWRPGXYLOOKDPHULQIRUPDWLRQ
 Ȇ ȇ ȅ Ȉ ȅ ȋ Ǿ
ȈȘȝĮȓȞİȚȩIJȚIJȠʌȡȠȧȩȞįİȞșĮʌȡȑʌİȚȞĮĮȞĮȝȚȤșİȓȝİIJĮįȚȐijȠȡĮȠȚțȚĮțȐĮʌȠȡȡȓȝȝĮIJĮıIJȠIJȑȜȠȢIJȠȣțȪțȜȠȣȗȦȒȢIJȠȣțĮȚ
șĮʌȡȑʌİȚȞĮĮʌȠıȣȡșİȓıȪȝijȦȞĮȝİIJȠȣȢțĮIJȐȜȜȘȜȠȣȢIJȠʌȚțȠȪȢȒİșȞȚțȠȪȢțĮȞȠȞȚıȝȠȪȢțĮȚȝİIJȡȩʌȠijȚȜȚțȩʌȡȠȢIJȠ
ʌİȡȚȕȐȜȜȠȞ
ȁȩȖȦIJȠȣȥȣțIJȚțȠȪIJȠȣȜĮįȚȠȪțĮȚȐȜȜȦȞıIJȠȚȤİȓȦȞʌȠȣʌİȡȚȑȤȠȞIJĮȚıIJȠțȜȚȝĮIJȚıIJȚțȩȘĮʌȠıȣȞĮȡȝȠȜȩȖȘıȒIJȠȣʌȡȑʌİȚȞĮ
ȖȓȞİȚĮʌȩİʌĮȖȖİȜȝĮIJȓĮIJİȤȞȚțȩțĮȚıȪȝijȦȞĮȝİIJȠȣȢȚıȤȪȠȞIJİȢțĮȞȠȞȚıȝȠȪȢ
īȚĮʌİȡȚııȩIJİȡİȢȜİʌIJȠȝȑȡİȚİȢİʌȚțȠȚȞȦȞȒıIJİȝİIJȚȢĮȞIJȓıIJȠȚȤİȢĮȡȤȑȢ
'$1*(5±+D]DUGVRUXQVDIHSUDFWLFHVZKLFK&28/'UHVXOWLQVHYHUHSHUVRQDOLQMXULHVRUGHDWK
3(/,*52±5LHVJRVRSUiFWLFDVSRFRVHJXUDVTXH32'5Ë$1SURGXFLUOHVLRQHVSHUVRQDOHVHLQFOXVRODPXHUWH
*()$+5±*HIlKUOLFKHRGHUXQVLFKHUH$QZHQGXQJGLH]XVFKZHUHQ.|USHUYHUOHW]XQJHQRGHU]XP7RGIKUHQNDQQ
'$1*(5±8WLOLVDWLRQGDQJHUHXVHRXVDQVJDUDQWLHGHVpFXULWpTXL3(87SURYRTXHUGHVpYqUHVEOHVVXUHVSHUVRQ-
QHOOHVRXODPRUW
3(5,&2/2±3HULFROLRD]LRQLSHULFRORVHFKH3275(%%(52DYHUHFRPHHVLWROHVLRQL¿VLFKHJUDYLRLOGHFHVVR
3(5,*2±5LHVJRVRSUiFWLFDVSRFRVHJXUDVTXH38('(1SURGXFLUOHVLRQHVSHUVRQDOHVHLQFOXVRODPXHUWH
)$5(±)DUHUHOOHUIDUOLJEUXJVRP.$1UHVXOWHUHLDOYRUOLJSHUVRQVNDGHHOOHUG¡GVIDOG
*(9$$5±*HYDUHQRIRQYHLOLJHSUDNWLMNHQGLHHUQVWLJSHUVRRQOLMNOHWVHORIGHGRRGWRWJHYROJ.811(1KHEEHQ
)$5$±5LVNHUHOOHURVlNUDWLOOYlJDJnQJVVlWWVRP.$1OHGDWLOOVYnUDSHUVRQVNDGRUHOOHUG|GVIDOO
.,1$<12 ± ȀȓȞįȣȞȠȚ Ȓ İʌȚțȓȞįȣȞİȢ ʌȡĮțIJȚțȑȢ ȠȚ ȠʌȠȓİȢ ȂȆȅȇǼǿ ȞĮ ȑȤȠȣȞ ȦȢ ĮʌȠIJȑȜİıĮ ıȠȕĮȡȑȢ ıȦĮIJȚțȑȢ
ȕȜȐȕİȢȒșȐȞĮIJȠ
&$87,21±+D]DUGVRUXQVDIHSUDFWLFHVZKLFK&28/'UHVXOWLQPLQRUSHUVRQDOLQMXU\RUSURGXFWRUSURSHUW\GDPDJH
35(&$8&,Ï1±5LHVJRVRSUiFWLFDVSRFRVHJXUDVTXH32'5Ë$1SURYRFDUOHVLRQHVSHUVRQDOHVGHPHQRULPSRUWDQ-
FLDRGDxRVHQHOSURGXFWRXRWURVELHQHV
9256,&+7 ± *HIlKUOLFKH RGHU XQVLFKHUH$QZHQGXQJ GLH JHULQJIJLJHQ 3HUVRQHQ 3URGXNW RGHU 6DFKVFKDGHQ
YHUXUVDFKHQNDQQ
35(&$87,21±8WLOLVDWLRQGDQJHUHXVHRXVDQVJDUDQWLHGHVpFXULWpTXL3(87SURYRTXHUGHVEOHVVXUHVPLQHXUHVRX
GHVGRPPDJHVDXSURGXLWRXDX[ELHQV
$77(1=,21(±3HULFROLRD]LRQLSHULFRORVHFKH3275(%%(52DYHUHFRPHHVLWROHVLRQL¿VLFKHPLQRULRGDQQLDO
SURGRWWRRDGDOWULEHQL
&8,'$'2±3HULJRVHSURFHGLPHQWRVSHULJRVRVTXH32'(5235292&$5GDQRVSHVVRDLVOLJHLURVRXGDQRVHP
SURGXWRVHEHQV
)256,*7,*±)DUHUHOOHUIDUOLJEUXJVRP.$1UHVXOWHUHLPLQGUHVNDGHSnSHUVRQHUSURGXNWHOOHUHMHQGRP
/(723±*HYDUHQRIRQYHLOLJHSUDNWLMNHQGLHOLFKWSHUVRRQOLMNOHWVHORIEHVFKDGLJLQJYDQKHWSURGXFWRIHLJHQGRPPHQ
WRWJHYROJ.811(1KHEEHQ
9$56$0+(7±5LVNHUHOOHUIDUOLJDWLOOYlJDJnQJVVlWWVRP.$1OHGDWLOOPLQGUHSHUVRQVNDGRUHOOHUVNDGRUSnSURGXNWHQ
HOOHUSnHJHQGRP
ȆȇȅȈȅȋǾ±ȀȓȞįȣȞȠȚȒİʌȚțȓȞįȣȞİȢʌȡĮțIJȚțȑȢȠȚȠʌȠȓİȢȂȆȅȇǼǿȞĮȑȤȠȣȞȦȢĮʌȠIJȑȜİıĮIJȘȞʌȡȩțȜȘıȘİȜĮijȡȫȞ
ıȦĮIJȚțȫȞȕȜĮȕȫȞȒțĮIJĮıIJȡȠijȒʌİȡȚȠȣıȓĮȢ

127(±7KHWH[WIROORZLQJWKLVV\PEROFRQWDLQVLQIRUPDWLRQRULQVWUXFWLRQVWKDWPD\EHRIXVHRUWKDWUHTXLUHDPRUH
WKRURXJKH[SODQDWLRQ
127$±(OWH[WRTXHVLJXHDHVWHVtPERORFRQWLHQHLQIRUPDFLyQRLQVWUXFFLRQHVTXHSXHGHQVHUGHXWLOLGDGRUHTXHUL-
GDVSDUDDPSOLDUXQDH[SOLFDFLyQ
+,1:(,6±'HUGLHVHP6\PEROIROJHQGH7H[WHQWKlOWNRQNUHWH,QIRUPDWLRQHQXQG$QOHLWXQJHQGLHQW]OLFKVHLQN|Q-
QHQRGHUHLQHWLHIHUJHKHQGH(UNOlUXQJEHQ|WLJHQ
5(0$548(±/HVWH[WHVSUpFpGpVGHFHV\PEROHFRQWLHQQHQWGHVLQIRUPDWLRQVRXGHVLQGLFDWLRQVTXLSHXYHQWrWUH
XWLOHVRXTXLPpULWHQWXQHH[SOLFDWLRQSOXVpWHQGXH
127$±,WHVWLSUHFHGXWLGDTXHVWRVLPERORFRQWHQJRQRLQIRUPD]LRQLRLQGLFD]LRQLFKHSRVVRQRULVXOWDUHXWLOLRFKH
PHULWDQRXQDVSLHJD]LRQHSLHVWHVD
127$ ± 2V WH[WRV SUHFHGLGRV GHVWH VtPEROR FRQWrP LQIRUPDo}HV RX LQGLFDo}HV TXH SRGHP VHU ~WHLV RX TXH
PHUHFHPXPDH[SOLFDomRPDLVGHWDOKDGD
%(05.±'HQWHNVWGHUI¡OJHUHIWHUGHWWHV\PEROLQGHKROGHURSO\VQLQJHUHOOHUDQYLVQLQJHUGHUNDQYUHWLOQ\WWH
HOOHUVRPNUYHUHQPHUHJUXQGLJIRUNODULQJ
230(5.,1*±'HWHNVWHQZDDUGLWV\PERROYRRUVWDDWEHYDWWHQQXWWLJHLQIRUPDWLHHQDDQZLM]LQJHQRILQIRUPDWLHHQ
DDQZLM]LQJHQPHHUXLWOHJEHKRHYHQ
2%6±7H[WHQHIWHUGHQQDV\PEROLQQHKnOOHULQIRUPDWLRQRFKDQYLVQLQJDUVRPNDQYDUDDQYlQGEDUDHOOHUVRPNUlYHU
HQQRJJUDQQDUHI|UNODULQJ
ȈǾȂǼǿȍȈǾ±ȉȠțİȓȝİȞȠʌȠȣĮțȠȜȠȣșİȓĮȣIJȩIJȠıȪȝȕȠȜȠʌİȡȚȑȤİȚʌȜȘȡȠijȠȡȓİȢȒȠįȘȖȓİȢʌȠȣȝʌȠȡİȓȞĮijĮȞȠȪȞ
ȤȡȒıȚȝİȢȒʌȠȣĮʌĮȚIJȠȪȞȝȚĮʌȚȠİȞįİȜİȤȒİȟȒȖȘıȘ
INDEX Ë1',&(
 6$)(7<6800$5<
 ,03257$17127,&(
 6<67(0'(6&5,37,21
 ,167$//$7,21&21),*85$7,21
 1$0(2)3$576
 5()5,*(5$17&<&/(
 ,1'22581,7,167$//$7,21
 5()5,*(5$17$1':$7(53,3(:25.
 :$7(53,3(:25.$1'&211(&7,21
 (/(&75,&$/:,5,1*
 %()25(23(5$7,21
 ,1'22581,723(5$7,21
 &200,66,21,1*
 /&'86(5¶6,17(5)$&(
 6$)(7<6800$5<&21752/'(9,&(6(77,1*
 %$6,&7528%/(6+227,1*
 7528%/(6+227,1*
 5(680(1'(6(*85,'$'
 $9,62,03257$17(
 '(6&5,3&,Ï1'(/6,67(0$
 &21),*85$&,Ï1'(/$,167$/$&,Ï1
 120%5('(/$63,(=$6
 &,&/2'(5()5,*(5$17(
 ,167$/$&,Ï1'(/$81,'$',17(5,25
 ,167$/$&,Ï1'(/$678%(5Ë$6'(5()5,*(5$17(<
'($*8$
 ,167$/$&,Ï1<&21(;,Ï1'(/$78%(5Ë$'($*8$
 &$%/($'2(/e&75,&2
 $17(6'(/)81&,21$0,(172
 )81&,21$0,(172'(/$81,'$',17(5,25
 38(67$(16(59,&,2
 /&''(,17(5)$='(/868$5,2
 5(680(1'(6(*85,'$'<$-867('(/26
',6326,7,926'(&21752/
 5(62/8&,Ï1'(352%/(0$6%È6,&26
 5(62/8&,Ï1'(352%/(0$6
,1+$/769(5=(,&+1,6 INDEX
 6,&+(5+(,76h%(56,&+7
 :,&+7,*(5+,1:(,6
 6<67(0%(6&+5(,%81*
 .21),*85$7,21'(5,167$//$7,21
 %(=(,&+181*'(57(,/(
 .h+/.5(,6/$8)
 ,167$//$7,21'(6,11(1*(5b76
 .b/7(0,77(/81':$66(5/(,781*9(5/(*81*
 :$66(5/(,781*69(5/(*81*81'$16&+/866
 .$%(/$16&+/866
 925'(0%(75,(%
 ,11(1*(5b7(%(75,(%
 ,1%(75,(%1$+0(
 /&'%(187=(56&+1,7767(//(
 6,&+(5+(,76h%(56,&+7
67(8(581*6(,167(//81*(1
 *581'/(*(1'()(+/(5%(+(%81*
 )(+/(5%(+(%81*
 &216,*1(6'(6e&85,7e
 5(0$548(6,03257$17(6
 '(6&5,37,21'86<67Ê0(
 &21),*85$7,21'(/¶,167$//$7,21
 120(1&/$785('(63,Ê&(6
 &<&/()5,*25,),48(
 ,167$//$7,21'(/¶81,7e,17(5,(85(
 &211(;,21'(678<$8;'¶($8(7'()5,*25,*Ê1(
 &211(;,21(7)21&7,211(0(17'(678<$8;
'¶($8
 &Æ%/$*(e/(&75,48(
 $9$17/()21&7,211(0(17
 )21&7,211(0(17'(/¶81,7e,17(5,(85(
 0,6((16(59,&(
 ,17(5)$&(/&''¶87,/,6$7(85
 6200$,5('(6',6326,7,)6'(6e&85,7e(7
5e*/$*('(625*$1(6'(&2175Ð/(
 'e3$11$*('(%$6(
 'e3$11$*(
,1',&( Ë1',&(
 35(&$8=,21,3(5/$6,&85(==$
 $99,62,03257$17(
 '(6&5,=,21('(/6,67(0$
 &21),*85$=,21('(//¶,167$//$=,21(
 120(1&/$785$'(,&20321(17,
 &,&/2',5()5,*(5$=,21(
 ,167$//$=,21('(//¶81,7¬,17(51$
 326$'(/78%2'(/5()5,*(5$17(('(//¶$&48$
 ,167$//$=,21((&2//(*$0(172'(/78%2
'(//¶$&48$
 &2//(*$0(17,(/(775,&,
 35,0$'(/)81=,21$0(172
 )81=,21$0(172'(//¶81,7¬,17(51$
 0(66$,16(59,=,2
 ,17(5)$&&,$87(17(/&'
 35(&$8=,21,3(5/$6,&85(==$(,03267$=,21,
'(/',6326,7,92',&21752//2
 5,62/8=,21('(,352%/(0,0,125,
 5,62/8=,21('(,352%/(0,
 5(6802'$6(*85$1d$
 127$,03257$17(
 '(6&5,d2'26,67(0$
 &21),*85$d2'$,167$/$d2
 120('$63(d$6
 &,&/2'(5()5,*(5$d2
 ,167$/$d2'$81,'$'(,17(5,25
 ,167$/$d2'2678%26'25()5,*(5$17(('$
È*8$
 ,167$/$d2(/,*$d2'$78%$*(0'(È*8$
 /,*$d®(6(/e75,&$6
 $17(6'($55$1&$5$81,'$'(
 )81&,21$0(172'$81,'$'(,17(5,25
 &2/2&$d2(06(59,d2
 ,17(5)$&('287,/,=$'25'2/&'
 5(6802'(6(*85$1d$($-867('2',6326,7,92
'(&21752/2
 5(62/8d2'(352%/(0$6%È6,&26
 5(62/8d2'(352%/(0$6
,1'+2/'6)257(*1(/6( ,1+28'623*$9(
 29(56,*729(56,..(5+('
 9,*7,*$105.1,1*
 6<67(0%(6.5,9(/6(
 ,1'67,//,1*$),167$//$7,21
 1$913c'(/(
 ./(0,''(/&<./86
 ,167$//$7,21$),1'(1'56(1+('
 ./(0,''(/2*9$1'556$5%(-'(
 9$1'556$5%(-'(2*7,/6/871,1*
 (/(.75,6./('1,1*6)5,1*
 )5'5,)7
 )81.7,21$),1'(1'56(1+('
 ,'5,)7677(/6(
 /&'%58*(5,17(5)$&(
 29(56,*729(5,1'67,//,1*(5)256,..(5+('6
2*67<5((1+('(5
 *581'/**(1'()(-/),1',1*
 )(-/),1',1*
 9(,/,*+(,'66$0(19$77,1*
 %(/$1*5,-.(0('('(/,1*
 %(6&+5,-9,1*9$1+(76<67((0
 ,167$//$7,(&21),*85$7,(
 1$0(19$121'(5'(/(1
 .28'(0,''(/&<&/86
 ,167$//$7,(9$1%,11(181,7
 .28'(0,''(/(1:$7(5/(,',1*6:(5.
 :$7(5/(,',1*6:(5.(1$$16/8,7,1*(1
 (/(.75,6&+(%('5$',1*
 9225'$78+(76<67((0,1*(%58,.1((07
 :(5.,1*9$1%,11(181,7
 :(5.,1*9$1%,11(181,7
 /&'%(6785,1*

9(,/,*+(,'66$0(19$77,1*%(6785,1*6,15,&+7,1*
 (/(0(17$,5(352%/(0(123/266(1
 352%/(0(123/266(1
,11(+c//6)g57(&.1,1* ǼȊȇǼȉǾȇǿȅ
 6b.(5+(766$00$1)$771,1*
 9,.7,*$10b5.1,1*
 6<67(0g9(56,.7
 ,167$//$7,216.21),*85$7,21
 '(/$51$61$01
 .</0(',(76&<.(/
 ,167$//$7,21$9,120+86(1+(7
 ,167$//$7,21$9.</2&+9$77(15g5
 ,167$//$7,212&+$16/871,1*$99$77(15g5
 (/(.75,6.$.$%/$5
 )g5('5,)7
 '5,)7$9,120+86(1+(7
 ,'5,)76b771,1*
 /&'$19b1'$5*5b1661,77
 6b.(5+(766$00$1)$771,1*2&+
6b.(5+(76,167b//1,1*$5
 *581'/b**$1'()(/6g.1,1*
 )(/6g.1,1*
 ȈȊȃȅȆȉǿȀǼȈȆȇȅĭȊȁǹȄǼǿȈǹȈĭǹȁǼǿǹȈ
 ȈǾȂǹȃȉǿȀǾȆǹȇǹȉǾȇǾȈǾ
 ȆǼȇǿīȇǹĭǾȉȅȊȈȊȈȉǾȂǹȉȅȈ
 ȇȊĬȂǿȈǾǼīȀǹȉǹȈȉǹȈǾȈ
 ȅȃȅȂǹȉǹǼȄǹȇȉǾȂǹȉȍȃ
 ȀȊȀȁȅȈȌȊȄǾȈ
 ǼīȀǹȉǹȈȉǹȈǾǼȈȍȉǼȇǿȀǾȈȂȅȃǹǻǹȈ
 ǼȇīǹȈǿǹȈǼȈȍȁǾȃǹȌȊȀȉǿȀȅȊȀǹǿȃǼȇȅȊ
 ǼȇīǹȈǿǹȈȍȁǾȃȍȈǼȍȃȃǼȇȅȊȀǹǿȈȊȃǻǼȈǾ
 ǾȁǼȀȉȇǿȀǾȀǹȁȍǻǿȍȈǾ
 ȆȇǿȃȉǾȁǼǿȉȅȊȇīǿǹ
 ȁǼǿȉȅȊȇīǿǹǼȈȍȉǼȇǿȀǾȈȂȅȃǹǻǹȈ
 ǼȃǹȇȄǾȁǼǿȉȅȊȇīǿǹȈ
 /&'ȉȅȊȆǼȇǿǺǹȁȁȅȃȉȅȈȋȇǾȈȉǾ
 ȈȊȃȅȆȉǿȀǼȈȆȇȅĭȊȁǹȄǼǿȈǹȈĭǹȁǼǿǹȈȀǹǿ
ȇȊĬȂǿȈǼǿȈȈȊȈȀǼȊȍȃǼȁǼīȋȅȊ
 ǹȃȉǿȂǼȉȍȆǿȈǾǺǹȈǿȀȍȃȆȇȅǺȁǾȂǹȉȍȃ
 ǹȃȉǿȂǼȉȍȆǿȈǾȆȇȅǺȁǾȂǹȉȍȃ
EN English 2ULJLQDOYHUVLRQ
(6 (VSDxRO 9HUVLyQWUDGXFLGD
'( 'HXWVFK hEHUVHW]WH9HUVLRQ
)5 )UDQoDLV 9HUVLRQWUDGXLWH
,7 ,WDOLDQR 9HUVLRQHWUDGRWWD
37 3RUWXJXrV 9HUVmRWUDGX]LGDO
'$ 'DQVN 2YHUVDWYHUVLRQ
NL 1HGHUODQGV 9HUWDDOGHYHUVLH
69 6YHQVND gYHUVDWWYHUVLRQ
(/ ǼȁȁǾȃǿȀǹ ȂİIJĮijȡĮıȝȑȞȘȑțįȠıȘ
02'(/6&2',),&$7,21 ,PSRUWDQWQRWH3OHDVHFKHFNDFFRUGLQJWRWKHPRGHOQDPHZKLFKLV\RXUDLU
FRQGLWLRQHUW\SHKRZLWLVDEEUHYLDWHGDQGUHIHUUHGWRLQWKLVLQVWUXFWLRQPDQXDO
7KLV,QVWDOODWLRQDQG2SHUDWLRQ0DQXDOLVRQO\UHODWHGWR,QGRRU8QLWV5:0FRP-
ELQHGZLWK2XWGRRU8QLWV+951+9510($)
&2',),&$&,Ï1'(/2602'(/26 1RWDLPSRUWDQWH&RPSUXHEHGHDFXHUGRFRQHOQRPEUHGHOPRGHORHOWLSRGH
VLVWHPDGHDLUHDFRQGLFLRQDGRGHOTXHGLVSRQHVXDEUHYLDWXUD\VXUHIHUHQFLD
HQHOSUHVHQWHPDQXDOGHLQVWUXFFLRQHV(VWH0DQXDOGHLQVWDODFLyQ\IXQFLRQ-
DPLHQWRVyORHVWiUHODFLRQDGRFRQXQLGDGHVLQWHULRUHV5:0FRPELQDGDVFRQ
XQLGDGHVH[WHULRUHV+951+9510($)
02'(//&2'(6 :LFKWLJHU+LQZHLV%LWWHVWHOOHQ6LHDQKDQGGHU0RGHOOEH]HLFKQXQJGHQ.OLPDDQ-
ODJHQW\SXQGGDVHQWVSUHFKHQGHLQGLHVHP7HFKQLVFKHQ+DQGEXFKYHUZHQGHWH
.U]HO IHVW 'LHVHV ,QVWDOODWLRQV XQG %HWULHEVKDQGEXFK EH]LHKW VLFK QXU DXI
5:0,QQHQJHUlWHLQ.RPELQDWLRQPLW+951+9510($)$XHQJHUlWHQ
&2',),&$7,21'(602'Ê/(6 5HPDUTXH LPSRUWDQWH  9HXLOOH] GpWHUPLQHU G¶DSUqV OH QRP GX PRGqOH TXHO
HVWYRWUHW\SHGHFOLPDWLVHXUHWTXHOOHHVWVRQDEUpYLDWLRQHWUpIpUHQFHGDQVFH
PDQXHOG¶LQVWUXFWLRQ&HVPDQXHOVG¶LQVWDOODWLRQHWGHIRQFWLRQQHPHQWQHFRQ-
FHUQHQWTXHOHVXQLWpVLQWpULHXUHV5:0FRPELQpHVjGHVJURXSHVH[WpULHXUV
+951+9510($)
&2',&,'(,02'(//, 1RWDLPSRUWDQWHLQEDVHDOQRPHGHOPRGHOOR YHUL¿FDUHLOWLSRGLFRQGL]LRQD-
WRUH G¶DULD LQ SRVVHVVR QRQFKp LO WLSR GL DEEUHYLD]LRQH H GL ULIHULPHQWR XWLOL]-
]DWL LQ TXHVWR PDQXDOH GL LVWUX]LRQL 4XHVWR PDQXDOH GL LQVWDOOD]LRQH H G¶XVR
ID ULIHULPHQWR DOOD VROD FRPELQD]LRQH GL XQLWj LQWHUQH 5:0 H XQLWj HVWHUQH
+951+9510($)
&2',),&$d2'(02'(/26 1RWDLPSRUWDQWH3RUIDYRUYHUL¿TXHGHDFRUGRFRPRQRPHGRPRGHORTXDO
pRVHXWLSRGHDUFRQGLFLRQDGRHFRPRHVWHpDEUHYLDGRHPHQFLRQDGRQHVWH
PDQXDOGHLQVWUXo}HV(VWHPDQXDOGHLQVWDODomRHGHIXQFLRQDPHQWRVyHVWi
UHODFLRQDGR FRP DV XQLGDGHV LQWHULRUHV 5:0 FRPELQDGDV FRP DV XQLGDGHV
H[WHULRUHV+951+9510($)
02'(/.2',),&(5,1* 9LJWLJLQIRUPDWLRQ&KHFNYHQOLJVWGLQOXIWNRQGLWLRQHULQJVW\SHLKHQKROGWLOPRGHO-
QDYQHWKYRUGDQGHQHUIRUNRUWHWRJKYLONHQUHIHUHQFHGHQKDULGHQQHYHMOHGQ-
LQJ'HQQHPRQWHULQJVRJGULIWVPDQXDOYHGU¡UHUNXQ5:0LQGHQG¡UVHQKHGHUQH
LIRUELQGHOVHPHG+951+9510($)XGHQG¡UVHQKHGHUQH
&2'(5,1*9$1'(02'(//(1 %HODQJULMNHRSPHUNLQJ&RQWUROHHUDDQGHKDQGYDQGHPRGHOQDDPZHONW\SH
DLUFRQGLWLRQHUXKHHIW KRH GH QDDP ZRUGWDIJHNRUWHQ KRH HUQDDU ZRUGW YHU-
ZH]HQLQGH]HLQVWUXFWLHKDQGOHLGLQJ'H]H,QVWDOODWLHHQEHGLHQLQJVKDQGOHLGLQJ
KHHIW DOOHHQ EHWUHNNLQJ RS ELQQHQXQLWV 5:0 JHFRPELQHHUG PHW EXLWHQXQLWV
+951+9510($)
02'(//(5 9LNWLJW.RQWUROOHUDPHGPRGHOOQDPQHWYLONHQW\SDYOXIWNRQGLWLRQHULQJGXKDUKXU
GHQI|UNRUWDVRFKKXUGHQDQJHVLGHQKlUKDQGERNHQ'HQQDKDQGERNI|ULQVWDO-
ODWLRQRFKDQYlQGQLQJJlOOHUHQGDVWI|ULQRPKXVHQKHWHUQD5:1NRPELQHUDGH
PHGXWRPKXVHQKHWHUQD+951+9510($)
Ȁ¨ǿȀȅȆȅǿǾȈǾȂȅȃȉǼȁȃ ȈȘĮȞIJȚțȒıȘİȓȦıȘǼȜȑȖȟIJİıȪijȦȞĮİIJȠȩȞȠĮȠȞIJȑȜȠȣIJȠȞIJȪʌȠIJȠȣ
įȚțȠȪıĮȢțȜȚĮIJȚıIJȚțȠȪțĮȚİʌȠȚĮıȪȞIJȘıȘįȘȜȫȞİIJĮȚțĮȚĮȞĮijȑȡİIJĮȚıİĮȣIJȩ
IJȠİȖȤİȚȡȓįȚȠ
ǹȣIJȩ IJȠ İȖȤİȚȡȓįȚȠ İȖțĮIJȐıIJĮıȘȢ țĮȚ ȜİȚIJȠȣȡȖȓĮȢ ĮijȠȡȐ ȝȩȞȠ IJȚȢ İıȦIJİȡȚțȑȢ
ȝȠȞȐįİȢ5:0ȝİİȟȦIJİȡȚțȑȢȝȠȞȐįİȢ+951+9510($)
,1'22581,781,'$',17(5,25,11(1*(5b781,7e,17e5,(85(81,7¬,17(51$
81,'$'(,17(5,25,1'(1'56(1+('%,11(181,7,120+86(1+(7ǼȈȉǼȇǿȀǾȂȅȃǹ¨ǹ
<87$.,6%DVLF0RGHOVZLWKKHDWHU
<87$.,60RGHORVEiVLFRVFRQFDOHQWDGRU
<87$.,6*UXQGPRGHOOHPLW+HL]PRGXO
<87$.,60RGqOHV%DVLFDYHFFKDXIIDJH
<87$.,60RGHOOLGLEDVHFRQULVFDOGDWRUH
<87$.,60RGHORVEiVLFRVFRPDTXHFHGRU
<87$.,6EDVLVPRGHOOHUPHGYDUPHHQKHG
<87$.,6EDVLVPRGHOOHQPHWYHUZDUPLQJ
<87$.,6EDVPRGHOOHUPHGYlUPDUH
<87$.,6ǺĮıȚțȐȠȞIJȑȜĮİșİȡĮȞIJȒȡĮ
8QLW &RGH 8QLW &RGH
5:0)61( (
5:0)61( (
5:0)61( ( 5:0)61( (
5:0)61( ( 5:0)61( (
5:0)61( ( 5:0)61( (
    1~     a
5:0
0HDQLQJRIPRGHOFRGL¿FDWLRQ6LJQL¿FDGRGHODFRGL¿FDFLyQGHORVPRGHORV%HGHXWXQJGHV0RGHOOFRGHV
6LJQL¿FDWLRQGHODFRGL¿FDWLRQ6LJQL¿FDWRGHOODFRGL¿FD]LRQHGHLPRGHOOL6LJQL¿FDGRGDFRGL¿FDomRGHPRGHORV
0RGHONRGL¿FHULQJHQVEHW\GQLQJ%HWHNHQLVYDQGHPRGHOFRGHULQJHQ0RGHOOHUQDVEHW\GHOVH
ǼʌİȟȒȖȘıȘțȦįȚțȠʌȠȓȘıȘȢȝȠȞIJȑȜȠȣ
5:0  X FS N E
8QLW7\SHLQGRRUXQLWZDWHUPRGXOHPHGLXPWHPSHUDWXUH
7LSRGHXQLGDG0yGXORGHDJXDGHODXQLGDGLQWHULRUWHPSHUDWXUDPHGLD
*HUlWHW\S,QQHQJHUlWH:DVVHUPRGXO0LWWHOWWHPSHUDWXU
7\SHG¶XQLWpPRGXOHK\GUDXOLTXHGHO¶XQLWpLQWpULHXUH0R\HQQHWHPSpUDWXUH
7LSRGLXQLWjPRGXORLGUDXOLFRGHOO¶XQLWjLQWHUQD0HGLDWHPSHUDWXUD
7LSRGHXQLGDGHPyGXORGHiJXDGDXQLGDGHLQWHULRU0pGLDWHPSHUDWXUD
(QKHGVW\SHLQGHQG¡UVHQKHGYDQGPRGXO0LGGHOWHPSHUDWXU
7\SHXQLWZDWHUPRGXOHELQQHQXQLW0HGLXPWHPSHUDWXXU
(QKHWVW\S9DWWHQPRGXOWLOOLQRPKXVHQKHW0HGHOK|JWHPSHUDWXU
ȉȪʌȠȢȝȠȞȐįĮȢȈIJȠȚȤİȓȠȞİȡȠȪİıȦIJİȡȚțȒȢȝȠȞȐįĮȢȂȑıȘĬİȡȝȠțȡĮıȓĮ
&RPSUHVVRUSRZHU+3
3RWHQFLDGHOFRPSUHVRU&9
.RPSUHVVRUOHLVWXQJ36
3XLVVDQFHGXFRPSUHVVHXU&9
3RWHQ]DFRPSUHVVRUH+3
3RWrQFLDGRFRPSUHVVRU+3
.RPSUHVVRUVW\UNH+3
&RPSUHVVRUYHUPRJHQ+3
.RPSUHVVRUNDSDFLWHW+3
ǿıȤȪȢıȣȝʌȚİıIJȒ+3
6\VWHP)UHH
5$5HIULJHUDQW
5HIULJHUDQWH5$
.lOWHPLWWHO5$
)OXLGHIULJRULJqQH5$
5HIULJHUDQWH5$
5HIULJHUDQWH5$
5$N¡OHPLGGHO
5$.RHOPLGGHO
.\OPHGLXP5$
ȌȣțIJȚțȩȝȑıȠ
5$
6HULHV6HULH6HULH6pULH6HULH6pULH6HULHQ5HHNV6HULHUȈİȚȡȐ
0DGHLQ(XURSH
)DEULFDGDHQ(XURSD
+HUJHVWHOOWLQ(XURSD
)DEULTXpHQ(XURSH
3URGRWWRLQ(XURSD
)DEULFDQD(XURSD
3URGXFHUHWL(XURSD
9HUYDDUGLJGLQ(XURSD
7LOOYHUNDGL(XURSD
ȀĮIJĮıțİȣȐȗİIJĮȚȈIJȘȞǼȣȡȫʌȘ
287'22581,781,'$'(;7(5,25$866(1*(5b7*5283((;7(5,(8581,7¬(67(51$
81,'$'((;7(5,258'(1'56(1+('%8,7(181,78720+86(1+(7(5ǼȄȉǼȇǿȀǾȂȅȃǹ¨ǹ
+($7380302'(/602'(/26&21%20%$'(&$/25
:b50(3803(102'(//(02'Ê/(63203(¬&+$/(85
02'(//,3203$',&$/25(02'(/26%20%$'(&$/25
9$50(3803(02'(//(502'(//(10(7:$507(3203
02'(//(5(1'$67)g5.</1,1*6)81.7,21ȂȅȃȉǼȁǹȂǼǹȃȉȁǿǹĬǼȇȂȅȉǾȉǹȈ
6LQJOH3KDVH
0RQRIiVLFD
(LQSKDVHQJHUlW
0RQRSKDVp
0RQRIDVH
0RQRIiVLFD
(QIDVHW
(pQIDVH
(QIDV
ȂȠȞȒȢijȐıȘȢ
7KUHH3KDVH
7ULIiVLFD
'UHKVWURPJHUlW
7ULSKDVp
7ULIDVH
7ULIiVLFD
7UHIDVHW
'ULHIDVHQ
7UHIDV
ȉȡȚȫȞijȐıİȦȞ
5$6+951
5$6+9510($)
5$6+9510($) 5$6+510($)
5$6+9510($) 5$6+510($)
5$6+9510($) 5$6+510($)
a 1a
5$6
0HDQLQJRIPRGHOFRGL¿FDWLRQ6LJQL¿FDGRGHODFRGL¿FDFLyQGHORVPRGHORV%HGHXWXQJGHV0RGHOOFRGHV
6LJQL¿FDWLRQGHODFRGL¿FDWLRQ6LJQL¿FDWRGHOODFRGL¿FD]LRQHGHLPRGHOOL6LJQL¿FDGRGDFRGL¿FDomRGHPRGHORV
0RGHONRGL¿FHULQJHQVEHW\GQLQJ%HWHNHQLVYDQGHPRGHOFRGHULQJHQ0RGHOOHUQDVEHW\GHOVH
ǼʌİȟȒȖȘıȘțȦįȚțȠʌȠȓȘıȘȢȝȠȞIJȑȜȠȣ
5$6  X+ 9 5 N06 E $)
8QLWW\SHRXWGRRUXQLW
7LSRGHXQLGDGXQLGDGH[WHULRU
*HUlWHW\S$XHQJHUlW
7\SHG¶XQLWpJURXSHH[WpULHXU
7LSRGLXQLWjXQLWjHVWHUQD
7LSRGHXQLGDGHXQLGDGHH[WHULRU
(QKHGVW\SHXGHQG¡UVHQKHG
7\SHXQLWEXLWHQXQLW
(QKHWVW\SXWRPKXVHQKHW
ȉȪʌȠȢȝȠȞȐįĮȢİȟȦIJİȡȚțȒȝȠȞȐįĮ
&RPSUHVVRUSRZHU+3
3RWHQFLDGHOFRPSUHVRU&9
.RPSUHVVRUOHLVWXQJ36
3XLVVDQFHGXFRPSUHVVHXU&9
3RWHQ]DFRPSUHVVRUH+3
3RWrQFLDGRFRPSUHVVRU+3
.RPSUHVVRUVW\UNH+3
&RPSUHVVRUYHUPRJHQ+3
.RPSUHVVRUNDSDFLWHW+3
ǿıȤȪȢıȣȝʌȚİıIJȒ+3
+HDWSXPS
%RPEDGHFDORU
:lUPHSXPSH
3RPSHjFKDOHXU
3RPSDGLFDORUH
%RPEDGHFDORU
9DUPHSXPSH
9HUZDUPLQJVSRPS
9lUPHSXPS
ǹȞIJȜȓĮȢșİȡȝȩIJȘIJĮȢ
96LQJOHSKDVHXQLWa9+]
7KUHHSKDVHXQLW1a9+]
98QLGDGPRQRIiVLFDa9+]
8QLGDGWULIiVLFD1a9+]
9(LQSKDVHQJHUlWa9+]
'UHLSKDVHQJHUlW1a9+]
98QLWpPRQRSKDVpHa9+]
8QLWpWULSKDVpH1a9+]
98QLWjPRQRIDVHa9+]
8QLWjWULIDVH1a9+]
98QLGDGHPRQRIiVLFDa9+]
8QLGDGHWULIiVLFD1a9+]
9(QIDVHWHQKHGa9+]
7UHIDVHWHQKHG1a9+]
9(pQIDVHXQLWa9+]
'ULHIDVHXQLW1a9+]
9(QIDVHQKHWa9+]
7UHIDVHQKHW1a9+]
9ȂȠȞȠijĮıȚțȒȝȠȞȐįĮa9+]
ȉȡȚijĮıȚțȒȝȠȞȐįĮ1a9+]
,QYHUWHUV\VWHP
6LVWHPDLQYHUWHU
,QYHUWHUV\VWHP
6\VWqPH,QYHUWHU
6LVWHPDLQYHUWHU
6LVWHPDGHLQYHUVRU
,QYHUWHUV\VWHP
2PYRUPHUV\VWHHP
9l[HOULNWDUHV\VWHHP
ȈȪıIJȘȝĮȝİIJĮIJȡȠʌȑĮȢ
5$5HIULJHUDQW
5HIULJHUDQWH5$
.lOWHPLWWHO5$
)OXLGHIULJRULJqQH5$
5HIULJHUDQWH5$
5HIULJHUDQWH5$
5$N¡OHPLGGHO
5$.RHOPLGGHO
.\OPHGLXP5$
ȌȣțIJȚțȩȝȑıȠ5$
6HULHV6HULH6HULH6pULH6HULH6pULH6HULHQ5HHNV6HULHUȈİȚȡȐ
0,9;
6(6
0DGHLQ(XURSH
)DEULFDGDHQ(XURSD
+HUJHVWHOOWLQ(XURSD
)DEULTXpHQ(XURSH
3URGRWWRLQ(XURSD
)DEULFDQD(XURSD
3URGXFHUHWL(XURSD
9HUYDDUGLJGLQ(XURSD
7LOOYHUNDGL(XURSD
ȀĮIJĮıțİȣȐȗİIJĮȚȈIJȘȞǼȣȡȫʌȘ
<87$.,6