8650$18$ 37$
3OHDVHNHHSWKLVXVHUPDQXDOIRUIXWXUHUHIHUHQFH
217176
03257$176$7,16758&7,216
3OD\HU67%6HOHFWLRQ
17528&7,21
$ERXW7KLV0DQXDO
7UDGH DUN&UHGLWV
$ERXW6RIWZDUH
$735&$87,216
$ERXWWKH6\ Erov
$735&$87,216FRQWLQXHG
RQRWSODFHDQ\REMHFWVRQWRSRIWKHXQLW
$87,21
35&$87,216
OHDQLQJDQG0DLQWHQDQFH
$%2873/$60$,63/$3$1
DJH5HWHQWLRQRI3ODV DLVSOD\
RQ&KDUDFWHULVWLFVRI3ODV DLVSOD\3DQHOV
KDUDFWHULVWLFVRI, DJH5HWHQWLRQ
$7856
6833/,$&&6625,6
237,21
20321171$06
URQW3DQHO
5HDU3DQHO
RWH&RQWURO
353$5$7,21
DXWLRQ KHQ0RYLQJWKH0DLQ8QLW
HQWFRYHU
Sduw
353$5$7,21FRQWLQXHG
6DIHW\3UHFDXWLRQRQ0DLQ8QLW,QVWDOODWLRQ
$QWL7X EOH0HDVXUHV
6HFXULQJWRDZDOORUSLOODU
211&7,21
7HU
5HDU
Urqw
211&7,21FRQWLQXHG
RQQHFWLQJ3URFHGXUHFRQWLQXHG
&RQQHFWLQJWRWHUQDOTXLS HQW 7HU LQDOVRQ5HDU
DPSOH@
,QIRUPDWLRQ
+0,WHUPLQDOXVLQJWKH+0,9,FDEOH
+0,WHUPLQDOXVLQJWKH+0,9,FDEOH
7HU LQDOVRQURQW
EDVLVDIWHUFRPSOHWLQJWKHFRQQHFWLRQVRQWKHUHDUSDQHO
287!!
&RQQHFWLQJWKHSOXJLQWRWKHZDOOVRFNHW
,QIRUPDWLRQ +RZWRVHFXUHWKHFDEOHV
+RZWRFOD S
7RXQIDVWHQ
$6,&235$7,21
3RZHU2Q2II
7RWXUQ2QWKHSRZHURIWKHXQLW
7RWXUQ2IIWKHSRZHURIWKHXQLW
$6,&235$7,21FRQWLQXHG
LUVW7L H6HWXS
9ROX H832
0XWH
QSXW6LJQDO6FUHHQLVSOD\
2IIWLPHU
796783235$7,21
+RZWRXVHWKH2Q6FUHHQLVSOD\26V\VWH
%DVLF2SHUDWLRQ
796783235$7,21FRQWLQXHG 6HWXS0HQX79 RGH
6HWXSKLQW
$XWR7XQLQJ
0DQXDO7XQLQJ
796783235$7,21FRQWLQXHG
6HWXS0HQX79 RGHFRQWLQXHG
796783235$7,21FRQWLQXHG 6HWXS0HQX$9 RGH
\VWHP
RORU
\VWHP
796783235$7,21FRQWLQXHG 6HWXS0HQX5*% RGH
XQFWLRQ0HQX
XQFWLRQ0HQXFRQWLQXHG
6HOHFWHG,WH 6HWXSKLQW
3LFWXUH6LH
796783235$7,21FRQWLQXHG 3LFWXUH0HQX79$9 RGH
3LFWXUH0HQX79$9 RGHFRQWLQXHG
&RORU0DQDJHPHQW
ODFNQKDQFHPHQW
LOP0RGH
RORU7HPS $GMXVW
3LFWXUH0HQX5*% RGH
EXWWRQ
FRORU RRO
3LFWXUH HQX5*% RGHFRQWLQXHG
RORU7HPS $GMXVW
EULJKWHUSDUWVa
SDUWVa
$XGLR0RGH
7UHEOH
DVV
Dodqfh
7L HU0HQX
2II7LPHU
2Q7LPHU
EOLQNLQJ
$QDORJ7HOHWHW
+RZWRRSHUDWHWKH7HOHWHW
$/755675,$/7/9,6,2177235$7,21
770DLQ0HQX/LVW
0HQX Xqfwlrq 3DJH
$/755675,$/7/9,6,2177235$7,21FRQWLQXHG
QVWDOOLQJ&KDQQHOV
5HVWRULQJ&KDQQHOV
FRQWLQXH´
KDQQHO6HOHFWLRQV
6WHSSLQJWKURXJKWKH&KDQQHO
6HOHFWLQJIUR WKH3URJUD DYRULWH/LVW 3URJUD /LVW
DYRULWH/LVW
0DNLQJDYRULWH/LVW
FDQFHOWKHVHWWLQJ
8VH
&!!% ! ˳
8WLOLLQJWKH,QIRU DWLRQ7RRO
Qiru DWLRQ%DQQHU
6HWXSWKHGLVSOD\WL H
LJLWDO7HOHWHW
OHFWURQLF3URJUD *XLGH3*
6XEWLWOH
3UHVV EXWWRQWRGLVSOD\3*VFUHHQ
2QFHWXULQJ79RII³$XWRVXEWLWOH´UHWXUQVWR³LVDEOH´
RQÀJXULQJ6HWWLQJ
GLJLWVSLQFRGH
7KHDYDLODEOH$XGLRODQJXDJHFDQEHVHOHFWHG
3UHVV EXWWRQRQWKHUHPRWHFRQWURO
KHFNLQJ776\VWH ,QIRU Dwlrq
796HWXS0HQX
7KLVFDQGLVSOD\FXUUHQW77V\VWHPLQIRUPDWLRQ
³796HWXS´PHQXFDQEHDFFHVVHGIURPWKH77PDLQPHQX
81&7,21
6LH6ZLWFKLQJ
79$9VLJQDOLQSXW
6FUHHQ
81&7,21FRQWLQXHG
6LH6ZLWFKLQJFRQWLQXHG
79$9VLJQDOLQSXWFRQWLQXHG 3RVLWLRQ$GMXVW HQW
8VLQJDZLGHVFUHHQWHOHYLVLRQ
%VLJQDOLQSXW
RXFDQVHOHFWVXLWDEOHVLHGHSHQGLQJRQWKHUHVROXWLRQ
5HVROXWLRQ QSXWVLJQDO
LVSOD\
3LFWXUHUHHLQJ
6LQJOH
6SOLW
$XGLR6ZLWFKLQJ
LOLQJXDOXDO6RXQGEURDGFDVW
6WHUHREURDGFDVW
3UHVV EXWWRQWRVZLWFKEHWZHHQVWHUHRDQGPRQRVRXQG
3RZHU6DYH0RGH
KHQ$9LQSXWLVVHOHFWHG
KHQWKH5*%LQSXWLVVHOHFWHG
5HWXUQLQJWRRSHUDWLQJVWDWXV
81&7,21FRQWLQXHG 3OD\HU67%6HOHFWLRQ
6HWXS
7528%/6+227,1
SWR
7528%/6+227,1*FRQWLQXHG
\ SWR DQG&KHFN/LVWFRQWLQXHG
DQG&KHFN/LVWFRQWLQXHG
5HG@
3528&763&,,&$7,216
63&,,&$7,21
3528&763&,,&$7,216FRQWLQXHG
6LJQDO,QSXW
LQSXWFRQQHFWRUSLQVSHFLÀFDWLRQV
+0,FRQQHFWRUSLQVSHFLÀFDWLRQV
5HFR
LWK+0,LQSXW
LWK5*%LQSXW
LQWHUSRODWLRQRIVWULSHV