6HULHVýçííŒýDQGýçíí7Œý836
325ý3527&7,21ýý
Page
Ëïí
Êïí
Éïí
Èïí
LJXUHýê
LJXUHýì
LJXUHýë
LJXUHýé
LJXUHýèì
LJXUHýéä
LJXUHýèí
LJXUHýèë
03257$17ý6$7ý,16758&7,216 6DYHý7KHVHý,QVWUXFWLRQVï
Ýýýýýýýýýýì
WLRQýDYDLODEOHã
$%287ý7+,6ý0$18$
WKHýVHFWLRQVýDQGýWKHLUýFRQWHQWVýDUHýGHVFULEHGýEHORZï
Ëýýýýýýýýýý
VRXUFHýSRZHUýVDJVýRUýEHFRPHVýGLVWRUWHGï
Ìïì 6\VWHPýHVFULSWLRQ
Ìïí ,17528&7,21
QWURGXFWLRQýýýýýýýýýýê
Éýýýýýýýýýý,QWURGXFWLRQ
LJXUHýë 0XOWLð0RGXOHýêííýWRýéèíýN9$ý836ý
QWURGXFWLRQýýýýýýýýýýè
Ìïë 5HOLDELOLW\
ZKHQýSHUIRUPLQJýWKHýDFWLRQVýGHVFULEHGýE\ýWKDWýWHWï
Ìïê 6DIHW\ý3UHFDXWLRQV
HFHVVýPRLVWXUHñýRUýGHEULVï
QWURGXFWLRQýýýýýýýýýýæ
LJXUHýé 6\VWHPý&RQWUROý&DELQHWVýõ6&&Vôý
Åýýýýýýýýýý,QWURGXFWLRQ
Ìïé 0RGHVý2Iý2SHUDWLRQ
WRUVýWKHý836ýV\VWHPï
Ìïè 2SHUDWRUý&RQWUROV
FRQYHQLHQWýDQGýUHOLDEOHýRSHUDWLRQï
Ìíýýýýýýýýýý,QWURGXFWLRQ
QWURGXFWLRQýýýýýýýýýýìì
Ìïç 2SWLRQV
\VWHPý&RQWUROý&DELQHW
Ëïì *HQHUDOý&RPSRQHQWýHVFULSWLRQV
Ëïí 7+25ý2ý235$7,21
IRUý\RXUýLQVWDOODWLRQï
LJXUHýæ 836ý0RGXOHý%ORFNýLDJUDPý
836ý0RGXOH
DWWHU\ý3ODQW
DQGýRWKHUýDFFHVVRULHVï
PRGXOHôïý7KHýIROORZLQJýLVýDýOLVWýRIýWKHýKDUGZDUHýIHDWXUHVã
Ëïë HWDLOHGý&RPSRQHQWýHVFULSWLRQV
Ëïëïì &RQWUROV
7KHRU\ýRIý2SHUDWLRQýýýýýýýýýýìè
VRODWLRQý7UDQVIRUPHU
Ëïëïë 5HFWLILHUî&KDUJHU
QSXWý&LUFXLWý%UHDNHU
QSXWý&XUUHQWý/LPLW
2SHUDWLRQý$IWHUýQGðRIðLVFKDUJH
Ëïëïê %DWWHU\ý&KDUJLQJý&LUFXLW
2SHUDWLRQý$IWHUýLVFKDUJH
DWWHU\ýLVFRQQHFW
1RQð/LQHDUý/RDGý&KDUDFWHULVWLFV
Ëïëïé ,QYHUWHU
2XWSXWý5HJXODWLRQýDQGý2YHUORDGý3HUIRUPDQFH
8QEDODQFHGý/RDGý&KDUDFWHULVWLFV
6KRUWHGý6&5ý0RQLWRULQJ
Ëïëïè 6WDWLFý%\SDVV
XVHý3URWHFWLRQ
LJXUHýå 6\VWHPý&RQWUROý&DELQHWýõ6&&ôý%ORFNýLDJUDPý
RDGý7UDQVIHUV
6WDWLFý6ZLWFKý,VRODWLRQ
3XOVHGý3DUDOOHOý2SHUDWLRQ
7UDQVIHUýDQGý5HWUDQVIHUý&RQGLWLRQV
DUHýSUHVHQWï Çï 5HWUDQVIHUý,QKLELWHG
Ëïëïç 5HGXQGDQWý0RGH
Èï 0DQXDOý5HWUDQVIHUV
Ëëýýýýýýýýýý7KHRU\ýRIý2SHUDWLRQ
Êïì LVSOD\ý6FUHHQýDQGý2SHUDWRUý&RQWUROV
Êïí 235$7,21
ÕEHKLQGýGRRUô 7XUQýLWý2ýRQO\ýIRUýPDLQWHQDQFHýSURFHGXUHVï
WHP Hvfulswlrq Xqfwlrq
%ìô
5HIHUýWRýLJXUH ìëýIRUýFRQWUROVýDYDLODEOHýRQýWKLVýSDQHOï
%ìô UHFWLILHUï
QWHUORFNý%XWWRQý 5HIHUýWRýLJXUH ìêï
SXVKHGï
836ý2XWSXWý&LUFXLWý
Uhdnhu
Ëçýýýýýýýýýý2SHUDWLRQ
RZQ
LJXUHýìë 6HULHVýçííý836ýDQGý6&&ý2SHUDWRUý&RQWUROý3DQHOVý
WHP
\SDVV
QWHUIDFHý%RDUGô
QWHUORFNý%XWWRQ
Õ6ìñýRQý6\VWHPý
Õ6ìñýRQý7UDQVIHUý
2SHUDWLRQýýýýýýýýýýëä
LJXUHýìé 0HQXý7UHHý
VRXUFHýLVýDYDLODEOHï
UHWXUQý\RXýWRýWKHý0DVWHUý0HQXï
Êïìïì 0DVWHUý0HQXý6FUHHQ
WKHý836ïý LJXUHýìè 0DVWHUý0HQXý6FUHHQVý
DFFHVVLQJýRWKHUýSDJHVï Ìï 021,725ýîý0,0,&ý,63/$ïý
6HUYLFHýDQGý6XSSRUWïý Çï /2$ý75$165ý352&856ýõ6&&ýRQO\ôï
Êï 67$786ý532576ï
Èï /,0,7ý677,1*6ï
WUDQVIHUýRUýUHWUDQVIHUýSURFHGXUHïý Æï 67$57ð83ý352&856ï
2XWSXWý0HWHULQJýLVSOD\V
Êïìïë 0RQLWRUî0LPLFýLVSOD\ý6FUHHQ
QSXWý0HWHULQJýLVSOD\Vý
RSHUDWLQJýLQýWKHýUHGXQGDQWýRUýQRQUHGXQGDQWýPRGHï
2YHUORDGý7UDQVIHU PHUJHQF\ý2II
6WDWXVî$ODUPý0HVVDJHý$UHDV
WHPýèýðý0RGXOHý6WDWXVý0HVVDJHV 0RGXOHý2Qý/LQH
2SHUDWLRQýýýýýýýýýýêê
Êéýýýýýýýýýý2SHUDWLRQ
$ODUPý0HVVDJHV
2SHUDWLRQýýýýýýýýýýêè
Êçýýýýýýýýýý2SHUDWLRQ
LJXUHýìä 0RQLWRUî0LPLFýLVSOD\ý6FUHHQýDPSOHVãý8WLOLW\ýDLOý
2SHUDWLRQýýýýýýýýýýêæ
Êåýýýýýýýýýý2SHUDWLRQ
2SHUDWLRQýýýýýýýýýýêä
Éíýýýýýýýýýý2SHUDWLRQ
WKHý836ýPRGXOHýUHFWLILHUýEHJLQVýWRýZDONðLQïý
Êïìïê DONð,QýLVSOD\ý6FUHHQ
LJXUHýëê DONð,QýLVSOD\ý6FUHHQýXULQJý6WDUWð8Sý
ORDGïý 127ý
Ëï 3UHVVýWKHý6HOHFWýSDGýWRýYLHZýWKHýGHVLUHGýUHSRUWýSDJHï
Êïìïé 6WDWXVý5HSRUWVý6FUHHQV
7RýORRNýDWýDQ\ýRIýWKHýUHSRUWVñýGRýWKHýIROORZLQJãý
Éëýýýýýýýýýý2SHUDWLRQ
2SHUDWLRQýýýýýýýýýýéê
3UHVHQWý6WDWXV
LJXUHýëè 3UHVHQWý6WDWXVý5HSRUWý6FUHHQý
Ééýýýýýýýýýý2SHUDWLRQ
YHQWý+LVWRU\
LJXUHýëç YHQWý+LVWRU\ý5HSRUWý6FUHHQý
2SHUDWLRQýýýýýýýýýýéè
+LVWRU\ý6WDWXV
LJXUHýëæ +LVWRU\ý6WDWXVý5HSRUWý6FUHHQVý
0RGXOH
EDVLVýDVýQHZýF\FOHVýRFFXUïý
\VWHPý6WDWXV
EDWWHU\ýSHUIRUPDQFHýDQGýHSHFWHGýOLIHïý
LJXUHýëå %DWWHU\ý&\FOHý0RQLWRUý6FUHHQý
Éåýýýýýýýýýý2SHUDWLRQ
LJXUHýëä %DWWHU\ý&\FOHý0RQLWRULQJý6XPPDU\ý6FUHHQý
PRQLWRULQJýDQGýGLVUHJDUGýWKHýRWKHUõVôï
Êïìïè 6\VWHPý&RQILJXUDWLRQý6FUHHQV
2SHUDWLRQýýýýýýýýýýéä
DWH
Èíýýýýýýýýýý2SHUDWLRQ
7LPHý
2SHUDWLRQýýýýýýýýýýèì
$XWRýLDO
WKHýDXWRðGLDOHUýDWýWKHý6&&ï
0RGHPý%DXGý5DWH
2SHUDWLRQýýýýýýýýýýèê
LJXUHýêç 0DLPXPý$XWRð5HWUDQVIHUý$WWHPSWVý6FUHHQý
0DLPXPý$XWRð5HWUDQVIHUý$WWHPSWV
GHWHUPLQHýWKHýFDXVHýRIýDQ\ýRYHUORDGýFRQGLWLRQï
Èéýýýýýýýýýý2SHUDWLRQ
5HPRWHý0RQLWRU
2YHUORDG
Èçýýýýýýýýýý2SHUDWLRQ
Êïìïç $ODUPý/LPLWý6HWWLQJVý6FUHHQ
LJXUHýêæ 0RGXOHý$ODUPý/LPLWý6HWWLQJVý6FUHHQý
XVDJHýGXULQJýWKHýGLVFKDUJHýSHULRGï
2SHUDWLRQýýýýýýýýýýèæ
Êïìïæ /RDGý7UDQVIHUý3URFHGXUHV
Èåýýýýýýýýýý2SHUDWLRQ
Êïìïå 6WDUWð8Sý3URFHGXUHVý6FUHHQ
2SHUDWLRQýýýýýýýýýýèä
Çíýýýýýýýýýý2SHUDWLRQ
2SHUDWLRQýýýýýýýýýýçì
Êïìïä 6KXWGRZQý3URFHGXUHVý6FUHHQ
GRZQï LJXUHýéì 6&&ý6KXWGRZQý3URFHGXUHVý6FUHHQý
VKXWGRZQï LJXUHýéë 0RGXOHý6KXWGRZQý3URFHGXUHVý6FUHHQý
Çëýýýýýýýýýý2SHUDWLRQ
Êïìïìí %DWWHU\ý7LPHý6FUHHQýõ0RGXOHý2QO\ô
LJXUHýéé %DWWHU\ý7LPHý6FUHHQýDPSOHýðýéèý0LQXWHýLVFKDUJHý
Çéýýýýýýýýýý2SHUDWLRQ
SHUIRUPýDýFRQWUROOHGýVKXWGRZQýRIýWKHýFULWLFDOýORDGï
2SHUDWLRQýýýýýýýýýýçè
Êïìïìì 0HWHUý&DOLEUDWLRQý6FUHHQ
Ççýýýýýýýýýý2SHUDWLRQ
2SHUDWLRQýýýýýýýýýýçæ
Êïìïìë %DWWHU\ýTXDOLHý6FUHHQ
LJXUHýéæ %DWWHU\ýTXDOLHý6FUHHQý
LJXUHýéå 6&&ý6WDWXVýDQGý$ODUPý0HVVDJHý$UHDVý
Êïìïìê $ODUPýDQGý6WDWXVý0HVVDJHV 0RGXOHý6WDWXVý0HVVDJHV
UHDNHUýLVýFORVHGï
Çåýýýýýýýýýý2SHUDWLRQ
QRWýLQGLFDWLQJï
\VWHPý6WDWXVý0HVVDJHV
RDGý%ORFNý0HVVDJHV
2SHUDWLRQýýýýýýýýýýçä
5HIHU 5HWUDQVIHU 6KXWGQ 6KXWGRZQ
$XWR $XWRPDWLF $YDLO $YDLODEOH DWW DWWHU\ \SDVV
Txls Txlsphqw +DUGZDUH
IHU 7UDQVIHU
Lvfkdujlqj
7DEOHýì $ODUPý0HVVDJHVýðý0HDQLQJýDQGý&RUUHFWLYHý$FWLRQ
$ODUP
Duqlqj
$ODUPý0HVVDJHVýðý0HDQLQJýDQGý&RUUHFWLYHý$FWLRQýõFRQWLQXHGô
Dloxuh
Orzq
Ulhg
7HPSHUDWXUH
7LPHRXW
7DEOHýë $ODUPý0HVVDJHVýðý6XPPDU\
WRPHUýXVH
Êïìïìé &RPPXQLFDWLRQý,QWHUIDFHV
RUOGZLGHý5HSRUWLQJ
$XWRðLDO
6LWHý5HSRUWLQJãý6LWH6FDQýRUý6103
RFDOý5HSRUWLQJýWRýDý7HUPLQDO
RFDOý5HSRUWLQJýWRýDý0RQLWRU
5HPRWHý0RQLWRUý3DQHO
Edfnvsdfh
6HSDUDWHýîý6LPXOWDQHRXVý2XWSXWV
VLPXOWDQHRXVO\ï 7DEOHýê 6HULHVýçííý7HUPLQDOý&RPPDQGV
LJXUHýéä /RDGýRQý%\SDVVýõ836ý1RWý$YDLODEOHôý
Êïë 0RGHVýRIý2SHUDWLRQ
Êïëïì /RDGýRQý%\SDVV
Åíýýýýýýýýýý2SHUDWLRQ
Êïëïë 2.ý7Rý7UDQVIHU
WHPï
LJXUHýèì /RDGýRQý836ýõ%\SDVVý$YDLODEOHôý
2SHUDWLRQýýýýýýýýýýåì
Åëýýýýýýýýýý2SHUDWLRQ
Êïëïê 0RPHQWDU\ý2YHUORDGV
LQJýPRWRULHGýFLUFXLWýEUHDNHUVï
LJXUHýèê ,QSXWý3RZHUýDLOýõ/RDGýRQý%DWWHU\ôý
Êïëïé ,QSXWý3RZHUýDLOXUHýõ/RDGýRQý%DWWHU\ô
ODUJHýHQRXJKýWRýVXSSO\ýDýìííøýUDWHGýORDGýIRUýìèýPLQXWHVï
2SHUDWLRQýýýýýýýýýýåê
Åéýýýýýýýýýý2SHUDWLRQ
Êïëïè 2QHý0RGXOHý2IIð/LQH
LJXUHýèé 2QHý0RGXOHý2IIð/LQHýõ/RDGýRQý836ôý
2SHUDWLRQýýýýýýýýýýåè
Êïëïç 2IIý%DWWHU\
LJXUHýèè /RDGýRQý836ýõ%DWWHU\ýQRWý$YDLODEOHôý
Êïëïæ PHUJHQF\ý0RGXOHVý2II
Åçýýýýýýýýýý2SHUDWLRQ
2SHUDWLRQýýýýýýýýýýåæ
Êïëïå PHUJHQF\ý3RZHUý2II
ORDGï
Ååýýýýýýýýýý2SHUDWLRQ
Êïëïä 6\VWHPý6KXWGRZQ
LJXUHýèå 6\VWHPý6KXWGRZQý
Êïëïìí 0DLQWHQDQFHý%\SDVV
LJXUHýçí /RDGýRQý0DLQWHQDQFHý%\SDVVýõ7KUHHý%UHDNHUVôý
Äíýýýýýýýýýý2SHUDWLRQ
Êïê 0DQXDOý3URFHGXUHV
3RZHUýLVýDYDLODEOHï
Êïêïì 6WDUWð8Sý3URFHGXUHV Ý6WDUWð8S
DQýHPHUJHQF\ýVKXWGRZQï 127
GUDZLQJýRIýWKHý6&&ýFDELQHWýVHOHFWHGýIRUý\RXUý836ýV\VWHPï
GUDZLQJýRIýWKHý6&&ýFDELQHWýVHOHFWHGýIRUý\RXUý836ýV\VWHP¨
2SHUDWLRQýýýýýýýýýýäê
VXSSO\LQJýSRZHUýWRýWKHýFULWLFDOýORDGýHTXLSPHQWï
Eèï 6HWýWKHý6WDWLFý6ZLWFKýLVFRQQHFWVýWRý21ýõFORVHGôï
Fêï 2SHQýWKHý0DLQWHQDQFHý%\SDVVý%UHDNHUýõ0%%ôï
LJXUHýçì 6&&ý6WDUWð8Sý3URFHGXUHVý6FUHHQý
PRGXOHVýDUHýRQðOLQHï
836ý0RGXOHý6WDUWð8S
DQýHPHUJHQF\ýVKXWGRZQï
PDLQWHQDQFHýVKXWGRZQï
ÄíøýOHYHOïý%RWKýEDUVýVKRXOGýVHWWOHýQHDUýWKHýìííøýOLQHï
Äçýýýýýýýýýý2SHUDWLRQ
VWDUWðXSï
2SHUDWLRQýýýýýýýýýýäæ
Êïêïë /RDGý7UDQVIHUý3URFHGXUHV
Äåýýýýýýýýýý2SHUDWLRQ
IýWKHýORDGýLVýRQý0DLQWHQDQFHý%\SDVVã
0DLQWHQDQFHý%\SDVVý/RDGý7UDQVIHUV
\SDVVýOLQHýLVýDYDLODEOHï
2SHUDWLRQýýýýýýýýýýää
GUDZLQJýRIýWKHý6&&ýFDELQHWýVHOHFWHGýIRUý\RXUý836ýV\VWHPïï
Êïêïê 6KXWGRZQý3URFHGXUHV \VWHPý6KXWGRZQý3URFHGXUH
PDLQWHQDQFHýRQýDý836ýPRGXOHýLQýDýQRQðUHGXQGDQWýV\VWHPï
Dï &ORVHýWKHý0DLQWHQDQFHý%\SDVVý%UHDNHUýõ0%%ôï
2SHUDWLRQýýýýýýýýýýìíì
SDJHýVFUHHQï LJXUHýçè 0RGXOHý6KXWGRZQý3URFHGXUHVý6FUHHQý
0RGXOHý6KXWGRZQý3URFHGXUH
ZKHQýUHTXLUHGýIRUýPDLQWHQDQFHï
Ìíëýýýýýýýýýý2SHUDWLRQ
$ $51,1 +$/ý92/7$*6ý$5ý35617ý,7+,1ý7+,6ý81,7ý91ý
RFDOýPHUJHQF\ý0RGXOHVý2IIýõ/02ô
5HPRWHýPHUJHQF\ý3RZHUý2IIýõ532ô
2SHUDWLRQýýýýýýýýýýìíê
Ìíéýýýýýýýýýý2SHUDWLRQ
Êïé $XWRPDWLFý2SHUDWLRQV
Êïéïì 2YHUORDGVýõLWKRXWý7UDQVIHUô
EUHDNHUVýDUHýRSHQï 127
Êïéïë $XWRPDWLFý7UDQVIHUVýWRý%\SDVV
Êïéïê $XWRPDWLFý5HWUDQVIHUVýWRý836
FULWLFDOýORDGýIURPýWKHýE\SDVVýVRXUFHýWRýWKHý836ýV\VWHPã
Ìíçýýýýýýýýýý2SHUDWLRQ
Êïéïé $XWRPDWLFý0RGXOHý2IIð/LQH
Êïéïè $XWRPDWLFýPHUJHQF\ý0RGXOHVý2II
WLRQýDYDLODEOHãý
Éïì 6DIHW\ý3UHFDXWLRQV
Éïí 0$,171$1
0DLQWHQDQFHýýýýýýýýýýìíæ
Ìíåýýýýýýýýýý0DLQWHQDQFH
0DLQWHQDQFHý$JUHHPHQWV
Éïë /LHEHUWý&XVWRPHUý6HUYLFHýDQGý6XSSRUW
3URIHVVLRQDOý6WDUWð8S
Éïêïë $LUýLOWHUV
Éïê 5RXWLQHý0DLQWHQDQFH
Éïêïì 5HFRUGý/RJ
SRUWýDWýìðåííðèéêðëêæåýIRUýIXUWKHUýLQVWUXFWLRQVïý
Éïêïê %DWWHU\ý0DLQWHQDQFH
DWWHU\ý6DIHW\ý3UHFDXWLRQV
3527&7,21ý85$17ý&6ý352&856ýö1757,1ïý81ý
$957,66017
6ý3,&6ý6286ý$/,017$7,21ý65217ý/$,666ý6$16ý
356211/ý48$/,,ý67ý548,6ý3285ý&785ý&6ý
0DLQWHQDQFHýýýýýýýýýýììê
Bbbbbbbbbbb
EHýPDGHï
DWH
Ììéýýýýýýýýýý0DLQWHQDQFH
UHTXLUHGýWRUTXHýYDOXHïý
0DWFKLQJý%DWWHU\ý&DELQHWVýõ2SWLRQDOýIRUýìèíýWRýéèíýN9$ôý
5DFNð0RXQWHGý%DWWHULHV
PDQXDOïý
WHPVýWRýFKHFNýLQFOXGHãý
Éïé HWHFWLRQýRIý7URXEOHý
Éïêïé 7RUTXHý5HTXLUHPHQWV
ROW
Éïæ 5HFRPPHQGHGý7HVWýTXLSPHQW
Éïè 5HSRUWLQJýDý3UREOHP
Éïç &RUUHFWLYHý$FWLRQV
LJXUHýçæ 2XWSXWý3RZHUýQYHORSHýIRUýíïåýSIý5DWHGý8QLWVý
Èïì 5DWLQJ
Èïí 63&,,&$7,216ý$1ý5$7,1*6
Ììåýýýýýýýýýý6SHFLILFDWLRQVýDQGý5DWLQJV
Èïë
DQGýFRQWDPLQDQWVï
Èïê $GMXVWPHQWV
Èïé %DWWHU\ý2SHUDWLRQ
Èïè OHFWULFDOý6SHFLILFDWLRQVý
UHTXHQF\
5HYLVHGãý-XO\ýìääç
SDFNDJHï
XVWRPHUý5HVSRQVHý&HQWHUï