3(*$6 ( 3(*$6 ( vriwvzlwfk 3(*$6 ( `,*,7$/ 3(*$6 ( 95` ,19(5725< 00

,19(5725<00$
3(*$6(
3(*$6(VRIWVZLWFK
3(*$6(',*,7$/
3(*$6(95'
6YDĜRYDFtLQYHUWRUSURVYDĜRYiQt
PHWRGRX00$D7,*
7HFKQRORJLH,*%7
.RPSDNWQtOHKNêSĜHQRVQê
$17,67,&.$5&)25&(+2767$57
-LãWČQêDNRPSDWLELOQtVHOHNWURFHQWUiODPL
5\FKORVSRMN\PPSURSĜLSRMHQtNDEHOĤ
83HJDV(VRIWVZLWFKU\FKORVSRMN\PP
3(*$6(VRIWVZLWFKMHLQYHUWRURYê]GURMVYDĜRYDFtKRSURXGXY\Xåt
YDMtFtWHFKQRORJLLVRIWVZLWFK7D]MHGQRGXãHQČĜHþHQR]DEH]SHþXMHRWHYtUiQt
D]DYtUiQt,*%7SĜLQXORYpPQDSČWtDSURXGX,QYHUWRUPiSRWRPPHQãtVSR
WĜHEXHQHUJLHDPHQãtQiURN\QDFKOD]HQtDO]HYêUD]QČRPH]LWYHOLNRVWFHOp
VYiĜHþN\SĜL]DFKRYiQtYêNRQX
3(*$6(',*,7$/D(95'MVRXY\EDYHQ\]DĜt]HQtPSUR
VQtåHQtQDSČWt3RXNRQþHQtVYDĜRYiQt]DĜt]HQtSURVQtåHQtQDSČWtVQtåtQDSČWt
QDSUi]GQRQD9EČKHPV3(*$6(',*,7$/MHQDYtFMHãWČ
Y\EDYHQĜt]HQtPYHQWLOiWRUX
7\WRIXQNFHSĜLQiãtQČNROLNYêKRG
‡
]YêãHQtNRPIRUWXVYiĜHþH±VYiĜHþQHQtY\VWDYRYiQQHSĜtMHPQpPXUHOD
WLYQČY\VRNpPXQDSČWtQDSUi]GQR
‡
QLåãt]QHþLãWČQtHOHNWURQLN\SURXGHPFKODGtFtKRY]GXFKX
‡
~VSRUXHQHUJLH
‡
QLåãt]DWtåHQtKOXNHP
‡
QLåãtRSRWĜHEHQtYHQWLOiWRUX
,QYHUWHUIRU00$DQG7,*ZHOGLQJ
,*%7WHFKQRORJ\
&RPSDFWOLJKWZHLJKWSRUWDEOH
$17,67,&.$5&)25&(+2767$57
3URWHFWHGDQG32:(5*(1(5$725FRPSDWLEOH
&DEOHFRQQHFWRUVPP
3HJDV(VRIWVZLWFKFDEOHFRQQHFWRUVPP
3(*$6(VRIWVZLWFKLVDQLQYHUWHUZHOGLQJSRZHUVRXUFH
XVLQJVRIWVZLWFKWHFKQRORJ\6RIWVZLWFKWHFKQRORJ\VLPSO\SXWZRUNV
E\PHDQVRIRSHQLQJDQGFORVLQJ,*%7DW]HURYROWDJHDQGFXUUHQW
7KHLQYHUWHUWKHQKDVOHVVSRZHUUHTXLUHPHQWVDQGOHVVFRROLQJ
UHTXLUHPHQWVDQGLWVVL]HFDQEHVLJQL¿FDQWO\UHGXFHGZKLOHPDLQWDL
QLQJKLJKSHUIRUPDQFH
7KH3(*$6(',*,7$/DQG(95'DUHHTXLSSHGE\
YROWDJHUHGXFWLRQGHYLFH:KHQWKHZHOGLQJSURFHVVKDV¿QLVKHGWKH
95'UHGXFHVWKHRSHQFLUFXLWYROWDJHWR9GXULQJV3(*$6
(',*,7$/LVDERYHWKDWHTXLSSHGHFRORJLFDOIDQFRQWURO
7KHUHDUHVHYHUDODGYDQWDJHVRIXVLQJ95'DQGIDQFRQWURO
‡
1RHOHFWULFDOVKRFNVWRWKHZHOGHU±KLJKHUZRUNFRPIRUW
‡
/RZHUDPRXQWRILPSXULWLHVLVGULYHQRQWRWKHHOHFWURQLFVE\WKH
DLUÀRZ
‡
(QHUJ\VDYLQJ
‡
/HVVQRLVH
‡
/RZHUIDQZHDURII
'tN\SRSUXKXDQt]NpKPRWQRVWL
MHVQDGQRSĜHQRVQê
.RQWUROND]DSQXWt]HOHQi/('
3RZHURQLQGLFDWRU*UHHQ/('
(DV\WRFDUU\ZLWKVKRXOGHUVWUDS
.RQWURONDSĜHKĜiWtåOXWi/('
2YHUWHPSHUDWXUHLQGLFDWRU<HOORZ/('
3RWHQFLRPHWUQDVWDYHQtVYDĜSURXGX
&XUUHQWSRWHQWLRPHWHU
3ĜHStQDþ00$HOHNWURGD7,*
3URFHVVVZLWFK67,&.7,*
5\FKORVSRMN\SURNDEHO\KRĜiN
7ZLVWORFNGLQVHRXWSXWWHUPLQDO6XSSO\FDEOH7,*WRUFK
VWUDQD
ZZZDOIDLQHX
REFKRG#DOIDLQHX
00$,19(57(56
)XQNFH)HDWXUHV
I
'&
I
00$
7,*
,19(57(5
/,)7$5&
6723
&
+2767$57
$5&)25&(
29(5+($7 $,5)25&(' 3257$%/(
&22/,1*
3527(&7,21
,QIRUPDFHSURREMHGQiQt2UGHULQJ,QIRUPDWLRQ
.8./$6
.$%(/<
.8./$66
3URGXNW3URGXFW
7,*+2ěÈ.
2EMþtVOR3DUW1R
5('9(17,/
6$'$
%2;
3RSLV'HVFULSWLRQ
3(*$6(VRIWVZLWFK
LQYHUWRUQDSiMHFtNDEHOSRSUXKQiYRG,QYHUWHUSRZHUFRUGVWUDS
PDQXDO
3HJDV(
LQYHUWRUQDSiMHFtNDEHOSRSUXKQiYRG,QYHUWHUSRZHUFRUGVWUDS
PDQXDO
3(*$6(',*,7$/
LQYHUWRUQDSiMHFtNDEHOSRSUXKQiYRG,QYHUWHUSRZHUFRUGVWUDS
PDQXDO
LQYHUWRUQDSiMHFtNDEHOSRSUXKQiYRG,QYHUWHUSRZHUFRUGVWUDS
PDQXDO
3HJDV(95'
'RSRUXþHQpKRĜiN\YL].DWDORJ$/)$,1³YL]VWUDQD6HHWKHUHFRPPHQGHGWRUFKHVRQSDJH&DWDORJXH$/)$,1³
.DEHO\3HJDVVRIWVZLWFK&DEOHV3HJDV
VRIWVZLWFK
9
.DEHO\$/),1[P$:HOGLQJFDEOHV[PFODPS
VWLFNZRUNOHDG
.DEHO\3HJDV&DEOHV3HJDV
90
6YDĜNDEHO\[P]HPNOHãWČGUåiNHOHNWURG:HOGLQJFDEOHV
[P
%R[
%R[PRGUê%R[EOXH[[FP
%R[þHUQê%R[EODFN[[FP
%R[þHUQê%R[EODFN[[FP
9HQWLOUHG$52;<0$;,3&PDQRPHWU\9DOYH5HG$52;<0$;,3&
PDQRPHWHUV
9HQWLOUHG$50,',&0*:[9DOYH5HG$50,',&0*
:[
5HGXNþQtYHQWLO9DOYHUHG
.XNOD+HOPHW
6DãHGiJUD\
6DFPRGUiEOXH
6DIVWĜtEURVLOYHU
6DJRKHĖÀDPH
6DKDPHULND
DPHULFD
.XNOD+HOPHW
66þHUQiEODFN
66RUDQåRUDQJH
.XNODVDPRVWPtYDFt$/)$,16:HOGLQJ+HOPHW$/)$,16
.XNODVDPRVWPtYDFt$/)$,166:HOGLQJ+HOPHW$/)$,166
7HFKQLFNiGDWD7HFKQLFDOGDWD
ý(6.<
(1*/,6+
0HWRGD
0HWKRG
6tĢRYpQDSČWt
0DLQVYROWDJH
-HGQ
8QLWV
3(*$6(
3(*$6(',*,7$/
00$
9+]
7,*
3(*$6(VRIWVZLWFK
00$
[
7,*
3(*$6(95'
00$
[
-LãWČQt
0DLQVSURWHFWLRQ
$
0D[VtĢRYêSURXG,
0D[LQSXWSRZHU,
$
0D[HIHNWLYQtSURXG,HII
0D[HIIHFWLYHFXUUHQW,HII
$
5R]VDKVYDĜSURXGX
:HOGLQJFXUUHQWUDQJH
$9
1DSČWtQDSUi]GQR8
2SHQFLUFXLWYROWDJH8
9
6YDĜRYDFtSURXG'= ,8 :HOGLQJFXUUHQW'& ,8 $9
SRPDOpVORZ
7,*
[
SRPDOê
SRPDOpVORZ
6YDĜRYDFtSURXG'= ,8
:HOGLQJFXUUHQW'& ,8
$9
6YDĜRYDFtSURXG'= [,8
:HOGLQJFXUUHQW'& [,8
$9
7ĜtGDL]RODFH
,QVXODWLRQFODVV
.U\Wt
3URWHFWLRQ
1RUP\
6WDQGDUGV
5R]PČU\ã[G[Y
'LPHQVLRQVZ[O[K
+PRWQRVW
:HLJKW
WHO
)
)
)
,36
,36
,36
(1
(1
(1
PP
[[
[[
[[
NJ
ID[
VWUDQD