* IF V YE V]
*DUGHQ7UDFWRUV
*DQG*
7(&+1,& $/0$18$ /
1RU WK $P HU LFD Q 9HU VLR Q
/L WK RLQ 8 6$
0DQXDO'HVFULSWLRQ
8 LMW XI GL RMG EPQ E RYEPM W [V MX XIRJS V ER I\ TI V MIR GI H
XI GL RMG ME R ERH GS RXEM RW WI GX MSR W XLEXE VIWT IG MJMG EPP] JSV
XL MW TVSH YG X- XMW ETEV XS JE XS XE PT VSHY GX WY TT SV X T VSKVEQ
8 LI Q ERYE PMW SVKE R M^I HW S XLEXE PP XLIM R JSV Q EX MSR S RE
TE V XMG YPE V W]W XI Q MWOIT X XSKIX LI V 8 LI SVH IVSJ KVSY TMR K MW
EW JS PPS[W
y 8EFPIS J' SR XIRXW
c 7TI GMJ MGEX MSR WE R H- RJS V Q E XMSR
c -H IR XMJM GEX MSR 2 YQFI VW
c 8SS PWE R H1E XIV MEPW
c 'S Q TS RI RX 0S GE XMS R
c 7GL IQEX MGW ER H ,E V R IWW IW
c 8 LI SV ] SJ 3T IVEXMS R
c 3T IVEXMS R ER H (ME KR SW XMGW
c (ME KR SW XMGW
c 8IW XW ER H% HNY WXQ I RXW
c 6I TE MV
c 3X LI V
12 7( ' HSH QGLQ JR QW KHS D UWLF XOD UVH FWLR QR UV\ VWHP
EHL QJF RYH UHG QRW DOOR I W KHD ERY HJU R XSV PD \ EH
XVH G
8 LI FPIIH XE FW JS VXLI TE KI WS J IE GL WI GXMS R [MPP E PMK R[ MXL
XL I WI GXMS RW PMWX IH S RX LMW T EK I 4E KI R YQFI V MR KMW
GS RW IG YXMZIJVS Q XL I FI KMR RMR K SJ XL I 7EJI X] WIG XMSR
XL VSYK L XL IP EWX WI GXMS R
;I ETTV IG ME XI ]S YVM R TY XS R XLMW Q ER YE P- J]SYJMR H ER]
IVVS VW S V[E RX XS GS QQI RX SRXL I PE]SY XS J XL IQE RYEP
TPI E WI GS RX EGX YW
-R XV SH YG XMS R
% PPMRJSV QE XMSR MPPYW XVEXMS RW ER H
WTI GM JMGEXMS RW MRX LMWQ ER YE P EVI FE WIH
SR XL IP EXI WXMRJSV QE XMSR EX XL IX MQI SJ
TY FPMGEX M SR 8 LI V MKLX MW VIW IV ZIH XS
QE OIGL ER KI WEX E R]XM QI [MXLS YX
RS XMGI
'3 4=6-+ ,8
(II VI 'S
.SL R(I IV I;SV PH[M HI 'S QQ IVG MEPER H
'SRW YQ IV )UYM TQ IR X(M ZMWMSR
% PPVMK LXW VI WIV ZIH
4 VIZMSY W) HMXMS R W
'3 4=6-+ ,8
,1752'8&7,21
6SHFLILFDWLRQVDQG,QIRUPDWLRQ
(QJLQH.RKOHU
3RZHU 7UDLQ
6DIHW\
$WWDFKPHQWV
(OHFWULFDO
6WHHULQJ
0LVFHOODQHRXV
-R XV SH YGXM S R
7E JIX]
6$)(7<
7E JIX ]
5HFRJQL]H 6DIHW\, QIRUPDWLRQ
1- *
8 LMW MW XLIW EJI X] EP IV X W]Q F SP ;LI R ]S Y WI IX LMW W] Q FS P
SR ]SYV QEGL MRI S V MRX LMW Q ERYEP F IEP IV XXSXL I TSXI RX MEP
JS VTIV WS RE PMR NYV ]
*SPPS[ VIGS Q QIRH IH T VIGE YXMS R WE RH W EJI WI V Z MGMR K
TVEGX MGIW
8QGHUVWDQG6LJQDO:RUGV
%WMK R EP [S VH (%2+) 6 ;%62 -2 + SV' %9 8-32 M W
YW IH [ MX L XL IW EJI X] EPI V X W]Q F SP (%2 +)6 MHI R XMJMI WXL I
Q SWX WI V MS YW LE ^E VHW
(%2+) 6 S V;%62 - 2+ WEJIX]WMK R WE VIP SG EXIH RIE V
WT IG MJMG LE ^E VHW+I RI VEP TVIG EY XMS RW EVI PMWX IH SR
'%9 8-32 WEJIX]WMK RW' %98 -32 E PWS GE PPWE XX IR XMS RX S
WE JIX ]Q I WWE KI WMR XL MWQ E RY EP
5HSODFH6DIHW\6LJQV
1- *
6I TPE GI Q MWW MRK S VHE QEKI H WE JIX] WM KR W 7I IX LI
Q EG LMR I ST IVEXS VvW Q ERYEP JSVGS VVI GXW EJI X] WMK R
TPE GI Q IR X
+DQGOH)OXLGV6DIH O\$YRLG)LUHV
%H 3U H SD UHG )R U( PHU JHQ F LH V
1- *
c ;L IR ]S Y [S V O EVSY RH JY IP HSRS XW QSOIS V[S V OR IE V
L IE XI VW SVSX LI V JMVI L E^ EVHW
c 7XS VIJPE Q QEFPI JPY MH W E[E] JVSQ J MV I LE^E VHW( SRSX
MR GMRI VEXI SVT YR GXY VIT VIWWY V M^IH GS RX EMR I VW
c 1 EOIWYV I Q EGL MR IM WG PIE R SJ XVEWL KVIE WI ER H
H IF V MW
c (S R SX WXS VIS MP] VEKW XLI]GE RM KR MXI ER H FY V R
WT SR XE RI SY WP]
c &I TVIT E VIHM JE JMV IW XE V XW
c /I IT E JMV WX EMH OM XE RH JMV I I\XMR K YMW LI VLE RH ]
c /I IT I Q IVKI RG ]RYQ FI VW JSVH SG XS VWEQFY PE RG I
WI V ZMGI LSWT MXE P ER HJ MVI H IT EV X QIR XR IE V]SYV XIP IT LS RI
8VH&DUH,Q+DQGOLQJ$QG6HUYLFLQJ%DWWHULHV
1- *
7E JIX]
6$)(7<
3UHYHQW%DWWHU\([SORVLRQV
c /I IT W TE V OWPM KL XIHQ E XGL IW ER HSTI R JPE Q IE[E]
JV SQX LI XS T SJ FE XXI V ]&E XX IV ]K E WG ER I\T PS HI
c 2IZIVG LI GO FE XXI V ]GL EVK IF]TPE GMR K EQI XEP SFN I GX
EG VSWW XL I TS WXW 9WI E ZS PX QIXI VSV L]H VSQ IX IV
c (S R SX GLE V KI E JVS^IR F EX XIV ] MXQ E]I\TPS HI;EV Q
FE XX IV ]X S ”' ”*
3UHYHQW$FLG%XUQV
c 7YP JYVM G E GMH MR FE XXI V ] I PIGX VSP ]XI MW TSM WS RS YW -XMW
WX VSRK I RS YK LX SFYV R W OMR I EX LS PIW MR GPS XL MRK E R H
GE YW I FPMR HR IW WMJ WT PEW LI H MRXS I]I W
$YRLG DFLG EX UQV E\
* MPPM RK F EX XIV MIW MRE [IPP ZI RX MPEX IH EVIE
;IE V MR KI]I TVSX IGX MSR E RH V Y FFIV KPSZI W
%ZSMH MRK F VIEX LMR K JYQI W[ LI R IPI GXV SP] XI MWE H HI H
%ZSMH MRK W TMPPMR K SVHV MTT MRK I PIGX VSP ]XI
9WI T VSTI V NYQ T WX EV X TVS GIH Y VI
,I\ RXV SLOO DFLG RQ \ RXUV HO I
* PY WL ]SYV WOMR [MX L[E XIV
%TT P] FEOM R K WSH E SVP MQ I XS LIP T RI YXVEPM ^I XL IEGM H
* PYW L ]S YVI]I W[ MXL [EXI V JSV QMRYXI W
+ IX QIH MG EP EXX IR XMS R MQQ I HME XI P]
,IDF LGL V VZ DO ORZH G
(V MR OPE VKI EQS YR XW SJ [EX IVSV Q MPO
8 LI RHV MRO QMP OSJQE KR IW ME F I EXIRI KK W SVZIK IX EFPI
SMP
+ IX QIH MG EP EXX IR XMS R MQQ I HME XI P]
:HDU3URWHFWLYH&ORWKLQJ
1- *
;I EVGP S WI JMX XMR KG PSX LMR K ER HW EJI X] IUY MTQ I RX
ET T VSTV ME XI XS XL I NSF
4VS PS RK IH I\ TS WYVIX SPS YH RS MWI GE RG EY WI MQT E MV Q I RXS V
PS WWS J LI EVM R K ;I EVE WYM XEFPIL IE V MRK T VSXI GXMZI H IZM GI
WY GL E WI EV QYJJW S VIEV T PYK W XS TVSXI GX EK EMR WX
S FNI GXMS R EFPISV YRGS Q JSV X EFPI PS YH RSM WI W
3 TI VEXM RK I UY MTQ I RXW EJI P]VIUY MVI WXL IJY PPEX XI RXMS R S JXLI
S TI VEXSV (S R SX [IE V VE H MS SVQY WMG LIE HT LS RI W [LM PI
S TI VEXM RK Q EG LMR I
8VH&DUH$URXQG+LJKSUHVVXUH)OXLG/LQHV
$YRLG + LJK 3UH VVXUH )OX LGV
1- *
)WG ET MRK J PYMH Y RH IVTV IW WY VIGE R TI R IXVEXI XL I WOMR
GE YW MRK WI V MS YW MRNY V ]
%ZSMH MRNY V ] JVSQ I WG ET MRK J PYMH YR HI VT VIWWY VIF]W XS TT MRK
XL I IR KMR I ER HVIPM IZMR K TVIW WY VIM R XL IW ]WX IQF IJS VI
H MWGS RR I GXMR K SVGS RR IG XMRK L]HVE Y PMGS V SX LI V PMRI W
8 MKL XI R EPP GS RR IG XMSR WF IJS V IETT P]MR K TVIW WY VI
7I EVGL JSVP I EO W[ MXL ETM I GI SJ GE VHFS EVH 4V SXIGX LE RH W
E RH F SH ]J VSQ LMK L TVIW WY VIJPY MHW
-J ERE GGMH IR XS GG YVWWI I E HS GXS VM QQI HME XIP]%R] JPY MH
MR NIGX IH MR XS XLIWO MR QYWXF IW YVKMG EPP ]V IQSZI H [MXL MR E
JI[L SY V WS VKE RKVIR I QE]V IW YPX (S GXS VW YRJEQ MPME V [MXL
XL MWX ]T I SJ MRNY V ]WL S YPH V IJI VIRG IEOR S[PI H KI EFPI
Q IH MGE PWS YVGI7Y GLMR JS V Q EX MSR MWEZE MPE FPI JV SQ(II VI
'S Q TE R]1I HMGE P( IT EV X QIRX MR 1SP MR I -PPMR S MW 9 7%
$YRLG + HDWL Q J1H DU3U H VVXUL ]HG) O XLG /LQ HV
1- *
* PEQ Q EFPIW TVE] G ER FIK IR IVEXI H F] L IE XMRK R I EV
T VIWWY V M^IH JPY MHPM RI W VIWY PXMR KMR WIZIVIFY V R WX S]SYVW IPJ
E RH F]W XERH IVW(S RS XLI EX F][IPH MRK WS PHI V MR KS VYW MRK
E XS VG LRIE V TVIW WY V M^I H JPY MHP MRI WS V SXLI VJP EQQ EFPI
Q EX IVM E PW4V IWW YVM ^I HPM RI WG ER FIE GGM HI RXEP P] GY X[ LI R
L IE XK SI WF I]S RH XL I MQ QIH MEXI J PEQ I EVIE
7E JIX]
6$)(7<
3DUNLQJ6DIHO\
7XS T QEGL MRI S R EP IZI PWY VJE GI RS XS R EW PS TI
(MW IR KE KI 483ERH W XSTE XXE GL QIRX W
0S[IV EXX EG LQI RXW XS XL I KVSY RH
0S GOT EVO FVEOI
7XS T IR KMR I
6I Q SZI OI]
;EMX JSVI RK MRI E RH E PPQ SZMR KTEV X WX S WXS T FI JSVI ]S Y
PIEZIXLI S TI VEXSV vWW XEX MSR
'PS WI JYIP W LY X SJJ ZE PZI MJ]SY VQE GL MRI MW IUY MTT IH
6HUYLFH0DFKLQH V6DIHO\
1- *
8 MI PSR K LE MV FI LMR H ]S YVL IE H (S R SX [IE VER IGOXMI
WG EVJPS S WI GPS XL MRK S V RI GOPE GI [L I R]SY[S V OR IE V
Q EGL MR I XSSP WS V QSZM RK TEV X W -J XLIWI MXI Q W[I V IX SKI X
GE YK LX W IZI VIM R NY V ] GS YPH VIWY PX
6I QSZIV MR KW E RH S XL IVNI[I PV ] X STVIZI RX I PIG XV MG EPWL SV X W
ER H IRXE RK PI QIRX MR Q SZMRK T EV XW
8VH3URSHU7RROV
9W I XSSP W ET TVST V ME XI XS XL I [S V O 1 EOIW LMJX XS SPW E RH
TVSG IH Y VIWG ER GV IE XI WE JIX ]L E^ EVHW9 WI TS[IV XSSP W
SR P] XS PS SWI R XL VIEH IH T EV X WE RH JE WXI RI VW*S V PSS WI RMR K
ER H XMK LXIR MRK L EVH[EV IYWI XL I GS VVIG XW M^IX SS PW '2
12 7 Y WI 97 Q IE WY VIQI RX XS SPW S R QIXV MG JE WXI RI VW
%ZSMH FSH MP]MR NY V ] GE YW IH F]W PMTT MR K[ VIRG LI W 9W ISR P]
WI V ZMGI T EV XW Q II XMR K .S LR (I IVIW TI GM JMGE XMS RW
:RUN,Q&OHDQ$UHD
%H IRU H VWDUWL Q JDM RE
'PI ER [S V OE VIE ERH QEGL MRI
1 EOIWY VI]SYL EZI EP PR IGI WW EV ] XSSP WX SHS ]S YVN S F
,EZI XL I V MKL X TE V XW SR LER H
6I EH E PPMRW XV Y GXMS RW XL SVSY K LP] HSR SX EX XI QTX
WL SV X GY XW
6XSSRUW0DFKLQH3URSHUO\DQG8VH3URSHU
/LIWLQJ(TXLSPHQW
1- *
-J ]S Y QYWX[ SVO SRE PMJXI H Q EGL MRI S V EX XEG LQI RX
WI GY VIP ] WYT T SV X XL IQE GLM RI SVE XXE GL Q IR X
(S R SX WY TT SV X XL IQE GL MRI S RG MRH IVFPS GOW LS PPS[X MPIW
S VTVS TW XL EX Q E] GV Y QFPIYR H IVGS RX MRYS YW PS EH ( SRS X
[SV OY RH IVE Q EGL MR IX LE XMW W YT TS V XI HW SPI P] F]EN EGO
*SPPS[ VIGS QQI RH IH T VSGI HY VIW MRX LMW Q ERYEP
0 MJXMR K LI EZ ]G SQT SR IR XW MRGS VVIG XP] GER G EY WI WIZIVI
MR NYV ]S V QEGL MR IHE QEKI *S PPS[ VIGS QQI RH IH
T VSGI HY VIJS VVIQ SZEPE RH MR WXE PPE XMSR S JGS Q TS RI RXW MRXLI
Q ERYE P
8VLQJ+LJK3UHVVXUH:DVKH UV
(MV IG XMR KTV IWW YVM ^IH [EX IVE XI PIG XVSR MG I PIG XV MGE P
GS Q TS RI RX WS V GS RR IGX SVWF IE V MRK WL] HVEYPM GW IE PWJY IP
MR NIG XMSR T YQT WS V SXLI VW IR WMXM ZI TE V XW ER HG SQT SR IR XW
Q E] GE YWI T VSHY GX Q EPJY RG XMS RW 6IH YG ITV IWW YVIE R H
WT VE] E XE X S HI KVII ERKPI
,OOXPLQDWH:RUN$UHD6DIH O\
-PPY Q MRE XI ]S YV[ S V O EVIE EHI UY EX IP] FY XW EJI P] 9WI E
T SV X EFPIWEJIX] PMKL XJS V [SV O MRK MR WMHI S V YR HI V XL I
Q EG LMR I1EOI WY VIXL I FY PF MWI R GPS WIH F] E[ MVI GE KI
8 LI L SX JMPE Q IR XS JE REGG MHI RX EPP] F VSOIR FYP F GER MK RM XI
WT MPPIH JY I PSV S MP
:RUN,Q9HQWLODWHG$UHD
1- *
7E JIX]
6$)(7<
)R KMR I I\L EY WX JYQI WG ER GE YW I WMGO RI WW SVH IE XL -J MXM W
RI GI WW EV ] XS V YR E R IR KMR I MRE R IRGP S WI HEVI E VIQ SZI
XL I I\L EY WX JY QIWJ VSQ XL I EVIE [MX LER I\L EY WX T MTI
I\ XIRWM S R
-J ]S Y HS RSX LEZI E RI\LEY WX TMT I I\XI R WMS R ST IR X LI
HS S VW ER H KI XS YX WMH IEM V MRX S XLIE VIE
:DUQLQJ&DOLIRUQLD3URSRVLWLRQ:DUQLQJ
+E WS PMR IIR KMR I I\L EY WX JVSQ XL MW TVSH YG XGS RX EMR W
GL IQM G EPWO RS[R XS XL I7XE XI SJ 'EPMJS V R ME XSG EY WI GER GI V
FMV XL HI JIG XWS V SXLI VVIT VSH YGX MZI LEV Q
(MI WI PI RK MRI I\LEY WXE RH W SQI SJ MXW GS RW XMXY IR XW EVI
OR S[R XS XL I 7XEX ISJ 'E PMJSV RME XS G EY WI GE RG IVF MV XL
HI JI GXW ER HSXL IVV IT VSHY GX MZI LE V Q
5HPRYH3DLQW%HIRUH:HOGLQJRU+HDWLQJ
%ZSMH T SXIR XME PP]X S\M GJY Q IW ERH HY WX ,E^ EVHS YW JY Q IW
GE R FI K IR IVEXI H[ LI R TE MRX MW LIEX IH F][I PHM RK
WS PHI V MR K SVY WMR K EX SVGL (S EP P[SV OS YXW MHI S V MRE [I PP
ZI RXM PEXI H E VIE( MWT SW I SJ TE MRX ERH WS PZI RX TVST I V P]
6I Q SZI TE MRX F IJS VI[ IP HMR K SVLI EX MRK - J]SYWE R HSV
KVM R H TE MRX EZS MH FVIE XL MRK XL I HY WX ;I EVE RETT VSZIH
VIWT MVE XSV- J]SYY WI WS PZI RX SVT EMR XW XV MT TI V VIQ SZI
WX V MTT IV[ MXL WSE T E RH [EXI V FI JSVI [I PH MRK 6 IQSZI
WS PZIR X SVT EMR XW XV MTT I VG SR XE MR I VW ER H SX LI V JPEQ Q E FPI
Q EXIV ME PJV SQE V IE %PPS[ JYQI WX SHM WT IVWI E XPI EW X
Q MRYX IW FI JS VI[ IPH MR K SVLI EX MRK
$YRLG+DUPIXO$VEHVWRV'XVW
%ZSMH F VIEX LMR KHY WXX LE XQ E] F IKI RI VEXIH [L IR
LE R HPMR K GS QTS RI RXW GS RX EMR MRK E WF IWX SW JMF IVW
-R LE PI HEWF IW XSW JMF IVWQ E] GE Y WI PYR KG ER GI V
'S Q TS RI RX WMR T VSHY GXW XL EX QE]GS RXEM R EW FI WXS W
JMF IVWE VIF VEOI TE HW FVEOI F ER HER HPM RMR K EW WIQFPM I W
GPY XGL T PEX IWERH WS Q I KE WOIXW 8LI EW FI WXS W YWI H MR
XL IW I GSQT SR IR XW MWY WY EPP] JSY RH MR E VIWM R S VW IE PIH MR
WS Q I[E]2 SV QEP L ER HPM RKM W RS XL E^ EVHS YW EW PS RK EW
EMV FS V RI H YWX GS RXEM R MRK E WF IWX SW MW RS X
KI R IVEXI H
%ZSMH GV IE XMR KH YW X2 IZI VYW IG SQTV IW WI HE MVJSVGPI ER MR K
%ZSMH FV YW LMR K SVKV MR HMR K QEXI V MEP GS RX EMR MRK E WF IW XSW
;L IR WI V ZMG MRK [I EVE RETT VSZIH V IWT MVE XSV% WT IG MEP
ZE GY YQG PIE RI V MW VIGSQ Q IR H IH XS GPI ER E WFI WX SW -JR SX
EZE MPE FPIETT P]E Q MWX SJ S MP SV[ EX IVS R XLIQ E XIV MEP
GS RX EMR MRK E WF I WXS W /I IT F]W XERHI VW E[E] JVSQ XL IEV IE
6HUYLFH7LUHV6DIHO\
1- *
)\T PS WMZI W IT EVEXMS RSJ EX MVI E RH V MQ T EV XW GE R GE YW I
WI V MSY W MRNY V ]S V HI EXL
(S R SX EX XIQT XXSQ S YR XE XM VIYR PI WW ]S Y LEZI XL I TVST IV
I UY MTQ I RX ERH I\T IVM I R GI XS T IVJSV Q XLIN S F
%P[ E]WQEM R XEMR XL IGSVVI GX XMVI T VIWWY VI(S RS XMR JPE XIXLI
XMV IW E FSZI X LI V I GS QQI RH IH T V IWW YVI2 IZI V[IPH S V LI E X
E [ LI IPE RH XMV IEW WIQFP]8 L IL IE XGE RGE YW IE RMR GV IE WI
MR EMV T VIWWY VIV IW YPX MRK MR E XMVI I\TPSWM S R ;I PHMR K GE R
WX V YG XYVEPP] [IE OI R SVH IJS V Q XL I [L II P
;L IR MR JPE XMR KX MVI W YW IEG PMT SR GL Y GO ER HI\XIRW MS R
L SWI PS RK I RS YK L XS EPP S[]SYXS W XERH XS SRI WMH I ER H
238 MR JV S RXSJS VSZI VX LI XMV IEWWI QFP] 9W IEWEJI X]GE KI
MJ EZEMPE FPI
'L IGO[ LI IPW JS VP S[T VIWWY VIGY XWFYFFPI W H EQEK I H
V MQ WS V Q MWWMR K PYK F SPX WE RH RYXW
$YRLG,QMXU\)URP5RWDWLQJ%ODGHV$XJHUV
$QG3726KDIWV
1- *
/I I TLER H WE RH JI IX E[E][L MPI Q EGL MR IM WV Y RR MR K 7LY X
S JJTS[IV X SW IV ZMGI PYF V MGE XI S VVI QSZIQ S[I VFPEHI W
E YK IVWS V 483 WL EJX W
7E JIX]
6$)(7<
6HUY LFH&RROLQJ6\VWHP6DIHO\
1- *
)\T PSW MZI V IPI EW ISJ J PYMH WJVSQ T VIWWY V M^IH GSS PMRK W]WX IQ
GE R GE YWI W IVM S YW FY V RW
7L YXSJJQ E GL MRI 3R P]V IQSZI J MPPIV GE T[LIR GS SPIRS YK L
XS XS YG L [MXL F EVIL ER HW 7PS[P ] PSS WI R GE TX SJ MVW XW XSTXS
VIP MIZITV IWW YVI FI JSVI VIQSZ MRK GS Q TPI XI P]
+DQGOH&KHPLFDO3URGXF WV6DIHO\
1- *
(MV IG XI\T S WYVI X SL E^E V HS YWGL IQM G EPW GER GE YW IWI V MS YW
MR NYV ] 4SXIR XME PP]L E^ EVHS YW GL IQM GE PWY WI H [MXL .S LR
(I IVI IU YMT Q IR XMR GPY HI WY GL MXI Q WE WP YF V MGE RXW
GS SPE R XWTEMR XWERH E HL IW MZIW
%1 E XI VME P7E JI X]( EX E7L II X 17 (7 T VSZMHI WWT I GMJMG
HI XE MPW SR G LI QM GEP TVSH YG XW TL] WMG EP ER HLIE PXL L E^ EVHW
WE JIX ]T VSGI HY VIWE RH I QIV KI RG ]V IWT SR WI XI GL RMU YI W
'L IGOX LI 1 7(7 FI JSVI ]S YW XE V XE R]NS F YW MRK E
L E^E VHSY WG LI QMG EP 8 LE X[E] ]S Y [MPP O RS[ I\E GXP] [L EX
XL I V MWOW E VIE RH LS[ XS HSXL I NSF WE JIP]8L IR JS PPS[
TVSG IH Y VIWE RH V IG SQQ IR HI H IU YMT Q IR X
'LVSRVHRI:DVWH3URSHUO\
-Q TVS TI V P] HMW TS WMR K SJ [E WX IG ER XL VIEX IR XL I
IRZ MVS RQI RX ER HIGS PS K]4SXIRX MEPP ]L EV Q JYP [E WX IYWI H
[MXL . SL R (II VII UY MTQ I RX MRG PYH I WY GL MXI QW EW S MP JY IP
GS SPE R XFVEOI JPY MH JMPXI VWER H FE XXI V MI W 9WI PI EO TVSS J
GS RX EMR IVW [LI R HVEMR MRK JPY MH W (S RSXY WI JS SH S V
FIZI VEKI GS RX EMR IVWX LE XQE] Q MWPI EH WS Q IS RI MR XS
H V MRO MR KJ VSQ XLIQ ( S RS XT SY V [E WXI S RX SX LI KVSY RH
H S[R EHVE MR SVMR XS ER] [E XI V WS YVGI -RUY MVI SRXL I
T VSTI V [E]XSV IG] GPI SVH MWT SW ISJ [E WXI JVS Q ]S YVP S GEP
I RZ MVS RQI RXEP S V VIG]G PMR KG IR XI VSVJ VSQ]S YV.SL R(I IVI
H IE PIV
/LYH:LWK6DIHW\
1- *
&I JSVIVI XY V RMR KQEGL MR IXSGY WXS Q IVQEOIWY VIQE GL MRI
MWJ YR GXMS RMR KTVST IVP ]I WTI GME PP]XL I WE JIX] W]W XI QW- RW XEPP
E PPKY E VHWE RH WL MIP HW
7T IGMJ MGEX MSR W -R JSV QEXM S R 8E FPISJ 'SR XI RX W
63(&,),&$7,216 ,1)250$7,217$%/(2)&217(176
7T IG MJM GE XM SR W -R JSV Q EX MS R
7DEOHRI&RQWHQWV
)DVWHQHU7RUTXHV
1IXVMG*EWXIRIV8SVUYI:EPYIW
-RGL*EWXIRIV 8SVUYI:EPYIW
*HQHUDO,QIRUPD WLRQ
+EWSPMRI
+EWSPMRI7XSVEKI
)RKMRI3MP
)RKMRI&VIEO-R3MP
,]H VSWXEXMG8VERWQMWWMSR3MP
7]RXL IXMG0YFVMGERXW
'LEWWMW+VIEWI
%PXIVREXMZI0YFVMGERXW
0YFVMGERX7XSVEKI
1M\MRKSJ0YFVMGERXW
3MP*MPXIVW
6HULDO1XPEHU/RFDWLRQV
4VSHYGX-HIRXMJMGEXMSR2YQFIV4-2
)RK MRI-HIRXMJMGEX MSR2YQFIV
,]HVSWXEXMG8VERWE\PI-HIRXMJMGEXMSR
2YQFIV
7T IG MJMGE XMS RW - RJS V Q EX MSR *E WX IR IV8SVUY I W
63(&,),&$7,216 ,1)250$7,21)$67(1(572548(6
)DVWHQHU7RUTXHV 0HWULF)DVWHQHU7RUTXH9DOXHV
1- *
(3 238 Y WI XL I WI LERH XS VUY IZEPYIW MJ EHM JJIVIR XXSVU YI
ZE PYI S VXM KL XI RMR K TVSG IH YVIM WK MZIR JS V EW TI GMJ MG
ET T PMGE XMS R 8SVUY I ZEPY I WPMW XIHE VIJS VKIR I VEP YWI S RP]
ER H MR GPYH I E • ZE V MER GI JE GX SV 'L IGOX MKL XR IW WS J
JE WXI RI VW T IVM S HMG EPP ]( 32 38 YW I EMV TS[IVI H [VI RG LI W
7L IE VF S PXWEVIHI WMK RI HXSJEMP YR HI VTVIH IX IV Q MRI HPSE HW
%P[ E]W VITPE GI WL I EVFS PXW [MXL MH IR XMGE PKVEH I
*EW XIRI VW WLS Y PHF I VITP EGI H [MX LX LI WE QIKV EH I1EOI
WY VIJE WXI RI V XL VIEH WE VIGP I E RER HX LE X]SYT VSTI V P] WXE V X
XL VIEH I RK EK IQI RX 8LMW [MPP T VIZI R XXLIQ J VSQ JEMPMR K
[L IR X MKL XIRM R K
;L IR F SPX E RH RYXG SQFMR EX MSR JE WXI R IVWE VIY WI H XSVUY I
ZE PYI W WLS YP HFI ET TPMI H XS XL I 298 MR WXI EH S JXLI FSP X
L IE H
8 MKL XI RX SS XLIHS VW IVVEX IH X] TI PSGOR YXW XSXLI JYP PXSVUY I
ZE PYI
E ³/X EULFD WH G´P HDQV FRDWH G ZLWK D OX EULFD QWVX FK DV
H QJL QHRLO R UIDV WH QHUV ZLWKSKR VS KDWH DQG RLO FRDWLQ JV
³' U\´P H DQVS ODLQ R U]L QF SO DWHG \HOO R ZG LFK URPD WH
6S HFLI LFD WLRQ- '6Z LWK RXWD Q\ OXEULF DWLRQ
6I JIVI RGI .(7 +
'PE WW 'PE WW SV ' PEW W 'PE WW
0 YF V MGE XI H E (V ]E 0Y F V MGE XIHE (V ]E 0Y F V MGEX IH E (V ] E 0Y F V MGEX IH E (V ]E
7-> ) 2c Q PF JX 2cQ PF J X 2cQ PF JX 2cQ PF JX 2cQ PF J X 2cQ PF JX 2cQ PF JX 2 cQ PF J X
1
1
1
1
1
1
1
1
1
1
1
1
1
1
7T IGM JMGE XMS RW -RJS V Q E XMS R *EW XIRIV 8S VUYI W
63(&,),&$7,216 ,1)250$7,21)$67(1(572548(6
,QFK)DVWHQHU7RUTXH9D OXHV
1- *
(3 238 Y WI XL I WI LERH XS VUY IZEPYIW MJ EHM JJIVIR XXSVU YI
ZE PYI S VXM KL XI RMR K TVSG IH YVIM WK MZIR JS V EW TI GMJ MG
ET T PMGE XMS R 8SVUY I ZEPY I WPMW XIHE VIJS VKIR I VEP YWI S RP]
ER H MR GPYH I E • ZE V MER GI JE GX SV 'L IGOX MKL XR IW WS J
JE WXI RI VW T IVM S HMG EPP ]( 32 38 YW I EMV TS[IVI H [VI RG LI W
7L IE VF S PXWEVIHI WMK RI HXSJEMP YR HI VTVIH IX IV Q MRI HPSE HW
%P[ E]W VITPE GI WL I EVFS PXW [MXL MH IR XMGE PKVEH I
*EW XIRI VW WLS Y PHF I VITP EGI H [MX LX LI WE QIKV EH I1EOI
WY VIJE WXI RI V XL VIEH WE VIGP I E RER HX LE X]SYT VSTI V P] WXE V X
XL VIEH I RK EK IQI RX 8LMW [MPP T VIZI R XXLIQ J VSQ JEMPMR K
[L IR X MKL XIRM R K
;L IR F SPX E RH RYXGS Q FMR EX MSR JE WXI R IVWE VIY WI H XSVUY I
ZE PYI W WLS YPH F I ET TPM IH XS XL I2 98 MR WXI EH S JX LI F SPX
LI E H
8 MKL XI RX SS XLIHS VW IVVEX IH X] TI PSGOR YXW XSXLI JYP PXSVUY I
ZE PYI
E ³/X EULFD WH G´P HDQV FRDWH G ZLWK D OX EULFD QWVX FK DV
H QJL QHRLO R UIDV WH QHUV ZLWKSKR VS KDWH DQG RLO FRDWLQ JV
³' U\´P H DQVS ODLQ R U]L QF SO DWHG \HOO R ZG LFK URPD WH
6S HFLI LFD WLRQ- '6Z LWK RXWD Q\ OXEULF DWLRQ
F ³*U DGH ´D SSO LHV IRUK H[ FD S VFU HZV 1 RW +H [% ROWVXS
WR P P LQ ORQ J ³*U DGH ´ DSSOL HVIRU K H[ FD S
VF UHZV RYHU P P LQ O R QJD Q GIRU DO ORW KHU W\S HV RI
E ROWV DQGV FUHZ V RIDQ \ OHQ JW K
6I JIVI RGI .(7 +
RU
E
1R0DU NV
1R0DU NV
6$(
*U DGH
DQG1XW
0DUNLQJV
6$(
*U DGH
DQG+HDG
0DUNLQJV
+ VEHI +VEHI F + VEHI SV + VEHI SV
0 YF V MGE XI H E (V ] E 0 YF V MGE XI HE ( V ] E 0 YF V MGE XI HE (V ]E 0 YF V MGE XI HE (V ]E
7-> ) 2c Q PF JX 2cQ PF JX 2c Q PF JX 2cQ PF JX 2c Q PF JX 2c Q PF JX 2c Q PF J X 2cQ PF J X
7T IGMJ MGE XMSR W -RJSV Q EXMS R + IR IVEP-R JS V Q EX MSR
63(&,),&$7,216 ,1)250$7,21* (1(5$/,1)250$7,21
*HQHUDO,QIRUPDWLRQ
*DVROLQH
7RDY RLG HQJ LQH GDP D JH
c (3 238 Q M\ SMP[ MXL KE WS PMRI
c 2 1/<X V HFOH D QIUH VKX QOHD GHG JD VROL QHZ LWK DQ
RFWDQH UDW LQJ DQW LNQ RFN L QGH [R I RU KLJ KHU
c JMPP KE WX ER OE XX LI IRH SJ I EGL H E]W STIV EX MSR XS L IPT
TVIZIR XG SR HI RWE XMS R JVSQ JS V Q MR KMR WM HI E TE V XME PP]J MPPI H
XE RO
c OI IT Y T [MXL W TI GMJMI H WIV ZM GI MRXI V ZEPW
9W I SJ EPXI V RE XMZI S\ ]K IR EX IH K EW SL SP FPI RH I H YR PIE HI H
KE WS PMRI MW EG GIT XE FPI EW PSR K EW
c XL IIXL]PS V KVEMR E PGS LS PFPI RH W( 32 38I\G II H
F]ZSPYQI S V
c Q IXL]PXIV X MEV ] FYX]P IX L IV1 8 &) FPIRHW (3 238
I\ GI IH F] ZSPY Q I
6* + VIJSV QYP EXIH KEWSP MRI MW E GGI TX EFPI JS VE PPQ E GL MRI W
H IWMK R IH JS VYWI S JVIK YPE V YR PI EH IH JY IP 3PH IVQ E GLMR I W
X LE X [I VIH IW MKR IH JS VP IE HI H JY IP Q E]W II W SQI
E GGI PIVEXI H ZEP ZI ER H WI EX [I E V
1- *
*DVROLQH6WRUDJH
/I I TKEW S PMRI WX SVIH MR E WEJIT VSXI GXI H EVIE 7X SVEKI S J
K EWS PMR I MR EGP IE R TVST IVP ] Q EVOI Hw9 20 )% ()(
+ %7 30 -2) x4 30=) 8 ,=0 )2) 40% 78- 'GS R XEMR I V
;- 8, 398 ER] Q IXEP WG VIIR S VJMPX IVM W VIGS Q QIRH IH (3
238 YW IH IM GI VW X SE XXI QTXXS VIQSZI[EXI V J VSQ K E WSP MRI
S VHIT I RH SRJY IP JMPX IVWXS V IQSZI [EX IVJV SQK EW SP MRI
9W IE[ E XIVWI TE VEXSV MR WXE PPI HMR XL I WXS VEKI XE R OS YX PIX
&) 79 6) XS TVST IVP ]H MWGE V HYR WXE FPI S V GSR XE Q MRE XIH
K EWS PMR I;L I RW XSV MRK XL I QEGL MRI S V KE WSP MRI MXMW
VIGS Q QIR HI H XLEX]S YEHH -RK Q'H H UH* DVR OLQH
&R QG LWLRQH UD QG6WD ELOL] HU 7< S V ER I UY MZE PIR XX S
XL I KEWS PMRI &) 796 ) XS JSPPS[H MV IGX MSR WS R GSR XE MRI V
E RH XS T VSTI V P]H MWG EVHI Q TX ]G SR XEMR I V
G & $87 ,2 1 $YRL G,Q MXU \* DVROL QHL V+ ,*+ /<
)/ $0 0$ %/ (K D QGO HLW ZLWK FDU H
'2 12 7U HIX HO PDF KLQ H ZKLO H
‡ ,QGRR UV DOZD \VI LOO JDV WDQN RXWGRR UV
‡ 0DFK L QHL V QHDUD QR SHQ IODP H RU V SD UNV
‡ (QJLQ H LVU XQQ L QJ 6723 HQJ LQH
‡ (Q JLQH LVK RW D OORZ LWWR F RRO V XIIL FLHQ WO\
ILUV W
‡ VPR NL QJ
+H OSS UHY H QWIL UHV
‡ )LOO JDV WD Q NWR ERW WRP RI ILOO HUQ HFN RQO\
‡ %H VXU HILO OFDS L VWLJ KW DIWH UIXHO LQJ
‡ &OH DQX SD Q\J D VVS LO OV,0 0 (',$7( /<
‡ .HH SPD FKLQ H FO HDQ DQG LQJRR GUHSDLU I UHH
RIH [ FHVV JU HDVH RLO GHE UL VDQ GI DXOW \ RU
GDP D JHG SDUWV
$Q \ VWR UDJ H RIPD FKLQ H V ZLWK JDV O HIWL QWDQN
VKR XOG EH LQD QDU H DWK DWLV Z HO OYHQ WLOD WHG WR
SUH Y HQW SRV VL EOH LJQ LWLQ JR IIX PHV E\ DQR SHQ
IODP H RU V SD UN WKLV L QFOX G HVD Q\D SSO LD QFH
Z LWKD SLO RWOL JKW
7RS UHYH QWI LUH RU H[S ORVL R QFD XVHG E\ 67$7,&
(/ (&7 5,& ', 6&+$ 5 *( GXU LQJ IXH OLQJ
‡ 21/< XVH D FOHD QD SSU RYH G
32 /<( 7+ </ (1( 3/ $ 67, &I XHO FRQ WD LQHU D QG
IXQ QHO :,7+ 287 D Q\ PHWDOVF UHH QR UIL OWHU
,03 2 57$17$Y RLG GDP D J H&D OLIRUQ LD 3U RS RVLW LRQ
:D UQL QJ *DVR O LQHH QJ LQH H[K DXVW I URP WKLV
SU RGX F WFR QWDL QVF KHP LF D OV NQR ZQW RWK H 6WDWH RI
&D OL IRU QLD WRF DXV HFDQ F HUEL UWK GHI HFWV RU RWK H U
UHS UR GXF WLYH KDU P
,03 2 57$17$Y RLG GDP D J H.H HSD OO GLU WVF DO H
Z DWHU RU RWK HU IRU HLJQ PD WHU LD ORX WRI JDV ROLQ H
7T IGMJ MGE XMSR W -RJSV Q EXMS R + IR IVEP-R JS V Q EX MSR
63(&,),&$7,216 ,1)250$7,21* (1(5$/,1)250$7,21
(QJLQH2LO
9W IX LI E T TVST V MEX ISM PZMW GS WMX] FEWI HSRX LI I\ TI GXI HEM V
XI QTI VEXYV IVER KI H YVM R K XL I TI V MSH F IX[I IR
VIGS Q QIR HI HSM P GL ER KI W 3T IVEXMR K SY XWMH I SJ XL IW I
VIGS Q QIR HI HSM P EMV XI QTIV EXYVI VERK IW Q E] GE YW I
TVIQ E XY VII RK MRI JE MPYV I
8 LI JS PPS[MR K. SL R( II VIS MPWE VI4 6 )*)6 6)(
c 78 5) *$5 'Š 6 $( :
c 3/ 86 Š 6$( :
8 LI JS PPS[MR K .S LR (I IVIS MPW EVI D OV RUH FRP PH QGH G
FE WI H SRXL I MVW TI GMJ MIH XI Q TI VEXYV IVER KI
c 7254 *$ 5'6 835( 0 (Š 6 $( :
c 3/ 86 Š 6$( :
c 7254 *$ 5'6 835( 0 (Š 6 $(
3X LI V SMPW Q E] FI YW IH MJ EFSZI .S LR ( II VISM PWE VIR SX
EZEMPE FPITVSZ MHI HX LI]Q II XS RI S JX LI JS PPS[MRK
WT IG MJMGE XMSR W
c 7% ) ; %4 -7 IV ZMGI 'PE WW MJMGE XMS RW 7+S VLM KL IV
c 7% ) ; %4 - 7I V ZMG I 'PEW WMJM GEX MSR 7+ S VLM KL IV
c 7% ) ; %4 -7 IV ZMGI 'PE WW MJMGE XMS RW 7+S VLM KL IV
c 7% ) %4- 7I V Z MGI 'PE WW MJMGE XMS R 7'S VLM K LI V
1- *
(QJLQH%UHDN,Q2LO
8 LI JS PPS[MR K. SL R (II V ISM PMW 46) * )66 )(
c .S LR (I I VI %5( $. ,1 (1* ,1(2 ,/
.S LR ( II VI& 6)% / -2 )2+ -2) 3- 0MW JSV QYP EX IH [M XL
WT IG MEP EH HMX MZI WJS VEP YQM R YQE RH GE WX MVS RX ]T I IR KMR IW
XS EPPS[ X LI T S[IVG]PMRH IVG SQT SR IR XWTM WX SR WV MRK W E R H
PMR IVWE W [IPP XS w [IE VM Rx[ L MPI TVSXI GX MRK SX LI V IR KMR I
GS Q TS RI R XW ZE PZI XVEMR ERH KI EVWJV SQE F RS V Q EP [IE V
)R KMR IVIFY MPH MRW XV Y GXMS RW WLSYPH FIJS PPS[IH GP SWI P]X S
H IXIV QMR I MJ WTI GME PV IU YMV IQIR XW EVI RI GI WWE V ]
.S LR (II VI& 6)% / -2)2+ -2 )3 -0MWEP WSVIGS Q QIR HI H
JS VRSR .SL R (II VII R KMR IWFSX L EPY QM RYQE RH G EW XMV SR
X] TI W
8 LI JS PPS[MR K. SL R (II V ISM PMW D OV RUH F RPPH QGH GD VD
EU HDN LQH QJL QHR LO
c 7254 *$5 ' 683 5 (0 (Š 6$ ( :
-J XL I EF SZI VIGSQ Q IR H IH .S LR ( II VIS MPW EVIR S X
EZE MPEFPI YWI E FVIE O MR IR KMR I SMP QII XMR KX LI JSP PS[MRK
WT IG MJMG EXM SR HYV MR K XLIJM VWX LS YVW QE\M Q YQ SJ
S TI VEXM SR
c 7% ) ; % 4- 7IV ZMG I 'PE WWMJMG EXMS R 7) S V LMK LI V
c 7% ) ; '' 1' 7TI GMJ MGEX MSR + SVL MKL IV
$ ,57 (03 ( 5$785 (
6 $( :
6 $( :
35( )(5 5('
6 $( :
6$ (
,03 2 57$17$Y RLG GDP D J H2 1/<X VHD TX DOLW\
EU HDN LQR LO LQU H EXLO WRU UHP DQX IDFW XUH GHQ JLQ H V IRU
WKH ILU VW KRX UV PD [L PX PR I RSH UDW LRQ ' 2 127
XVH RLO VZ LWK KHD YLHU YL VFR VL W\ZH LJK WV W KDQ 6$( :
RU RLO VP HHWLQ JV SHF LILFD WLRQ V $3, 6* RU 6+
W KHVH RLO VZLO OQR WDOO RZU HEX LO WRUU H PDQ XID FWXUH G
H QJLQH V WRE UH DNLQ SU RS HUO\
,03 2 57$17 $Y RLG GDP D J H $IWHU WKH EUH D NLQ
SHU LRG XVH WKH - RKQ 'H HUH RLO WKDW L VUH FRP PH QGH G
IRU WK LV HQJ LQH
7T IGMJ MGE XMSR W -RJSV Q EXMS R + IR IVEP-R JS V Q EX MSR
63(&,),&$7,216 ,1)250$7,21* (1(5$/,1)250$7,21
1- *
-RK Q'HHUH 'H DO HUV =S YQE][E RX XS GVSWW VIJI VIR GI XLI
JS PPS[MR K TY FPM GEX MSR W XS VIGSQ Q I RH XL ITVS TI V SMP JSV]SY V
GY WXS Q IVW
c 1 SH YPI (< )23 -0 MR . (7 +
c 7IG XMS R 0Y FVM G ER XW,]H VEYPM GWS JX LI .S LR ( II VI
1 IVGL ER HMW I 7EPI W+ YMH I
c 0Y FV MGE XMSR 7E PIW 1 ERYEP 4-
+\GURVWD WLF7UDQVPLVVLRQ2LO
9W IX LI E TT VSTV M EXIS MPZM WGS WMX] F EW IH SRXL IW I EMV
XI QTI VEXYV IVER KI W3 TI VEXM RK S YXW MH ISJX LI WI
VIGS Q QIR HI HSM P EMV XI QTIV EXYVI VERK IW Q E] GE YW I
TVIQ E XY VIL] HVSW XEX MGXV ER WQ MWWM SR JEM PYV I
8 LI JS PPS[MR KSM PMW 6)' 31 1 )2( )( JSVE GS Q TPI XI SMP
GL ER K ISV XS TT MRK S JJSJJ PYMH
c 7% ) ; 7=2 8 ,)8 -'
-J XL I EF SZI SMP MWR SX EZEMPE FPI
c .S LR (I IVI 0S[ :MWG SW MX], =+ %6( } . '
c 8 96* +%6 (’ ;
c 7% ) ;
9W ISRP ]S MPWX LE XQI IX XLIJS PPS[MR K WTI GMJ MGE XMS RW
c %4 - 7IV ZMG I' PEW WMJMG EX MSR W7+ S VLM K LI V
c '' 1' 7TI GMJ MGE XMSR W + S VLM KL IV
1- *
- RKQ 'H HUH 'H DO HUV =S YQE][ER XX SGVSWW VIJI VIRG IXLI
JS PPS[MR K TY FPM GEX MSR WX S VIGS QQI RH XL ITVS TI V SMP JS V]SYV
GY WXS Q IVW
c 1 SH YPI (< )23- 0 MR . (7+
c 7IG XMS R 0 YF V MG ER XW,]H VEYPM G WS JXLI.SLR ( II VI
1 IVGL ER HMW I7 EPI W+ YMH I
c 0Y FV MGEX MSR 7E PIW 1 ERYE P4-
6\QWKHWLF/XEULFDQWV
7]R XL IX MGPY FV MGER XW QE]F IY WI HMR .S LR (I IVII UY MT QIR X
MJ XLI]QI I XXL I ETTPM GE FPI T IVJSV Q ER GI VIUY MVI Q IR XW
MRH YW XV ] GPE WWM JMGE XMS RERH SVQMP MXEV ] WT IGM JMGE XMS REW
WL S[R MR XLMW Q ER YE P
8 LI V IGS Q Q IR HI HEM V XI QTI VEXYVI PM QMX WE RH WI V ZMG ISV
PY FVM G ER XG LE RK IM RXIV ZEP WWL SY PH FIQ EM RXEM R IH E WWL S[R
MR XL I ST IVEXS VvW QERY EP
%ZSMH Q M\MR K HMJ JIVIR XF VERHW KVEHI W SVX] TI WS J SMP 3MP
Q ERYJE GXY VIVW FPIRH EH HMX MZI WMR XL IMV S MPW XS Q II XGI V XE MR
WT IG MJMG EXMS RW E RH TIVJS V QER GI VIUY MVI Q IR XW1M \M RK
H MJJI VIRX SMPW GE R MRX IVJIV I[ MXL XL I TVST IVJY RG XMS RMR K SJ
XL IW I EH HMX MZIW E RH HIKVE HI PY FV MGE RX TI VJS V Q E RGI
,03 2 57$17$Y RLG GDP D J H21 /<X VHD TX DOLW\
6$( : 6< 17 +(7 ,& H Q JLQ H RLOL QWK LV
WUD QVP LV V LRQ 0L[ LQJ RI WZ RYL VFR VLW\ JUD GHR LO V LV
12 75( &2 0 0( 1'(' '2 12 7X VH%, 2+ < *$5 'Š
LQW KLV WUD QVP LV VL RQ
%5 ($ .,1 2,/
$,5 7 (03 ( 5$785 (
35( )( 5 5('
6 $( :
6 $( :
$,5 7 (03 ( 5$785 (
6$ ( :
7T IGMJ MGE XMSR W -RJSV Q EXMS R + IR IVEP-R JS V Q EX MSR
63(&,),&$7,216 ,1)250$7,21* (1(5$/,1)250$7,21
&KDVVLV*UHDVH
9W IX LI JS PPS[MR K KVIE WI FE WI H SR XL IEM V XI QTI VEXYVI
VERK I3TI VEXM RK S YX WMH I SJ XL IVIG SQQ I RH IH KVIE WI EMV
XI QTI VEXYV IVER KI Q E] GE YW I TVIQ EX YVI JEMPY VIW
8 LI JS PPS[MR K .SL R (II VIKV IE WI MW 46) * )6 6)(
c +, *+ 7( 0 3( 5$78 5 ((3 *5($ 6( Š -' 0- (
1/ *, * UDG H
c * 5($6 ( *$ 5'Œ - '0 -( 1/* ,* UDG H
3X LI V KVIEW IW Q E]F I YW IH MJ EF SZI T VIJIV VIH .S LR (I IVI
KVIE WI MW RS XEZE MPE FPI TVSZMH IH XL I]QI IXXLI JS PPS[ MRK
WT IG MJMGE XMSR
c .S LR (I IVI 7XE RH E VH.( 1 . ) 2 0+ -+ VEHI
1- *
-RK Q'HHUH 'H DO HUV =S YQE][E RX XS GVSWW VIJI VIR GI XLI
JS PPS[MR K TY FP MGE XMS RW XS VIGS QQI RH XL I TVST IVKV IE WI JSV
]S YVG YWX SQI VW
c 1 SH YPI (< +6 )% MR .(7 +
c 7IG XMS R 0Y FVM G ER XW,]H VEYPM GWS JX LI .S LR ( II VI
1 IVGL ER HMW I 7EPI W+ YMH I
c 0Y FV MGE XMSR 7E PIW 1 ERYEP 4
$OWHUQDWLYH/XEULFDQWV
'S RH MXMS RW MR G IV XE MR KI SK VETLMG EPEVIE WSY XWMH IXL I9R MXIH
7XE XI WE R H' ER EH E QE]VIU Y MVI H MJJIVIR XP YF V MGER X
VIGS Q QIR HE XMS RW XL ER XL ISR IW TVM R XI H MR XLM WXI GL RMG EP
Q ERYE PSV X LI STIV EXSV W Q ER YE P'S RW YP X[MX L]SYV .S LR
(I IVI (I EPI V SV7 E PIW &VE RG L XS SF XEM RX LI E PXIV R EXM ZI
PY FVM G ER XVIG SQQ IR H EXMS RW
-J EPX IV RE XMZI PY FV MGE RXW E VIXS FIY WI H MXMW VIGS Q Q IR HI H
XL EX XL IJE GX SV ] JMPPF I XLSVS Y KL P]V IQSZIH FIJSVI W[MX GLMR K
XS E R]EP XI V R EXM ZI PYF V MGE RX
/XEULFDQW6WRUDJH
%PP Q E GL MRI WS TI VEXI EX XSTI JJMG MIR G] SR P] [LI R GPI ER
PY FVM G ER XW EVI YW IH 9 WI GPI ER WX SVEKI GS RX EMR IVWX S
L ER HPI E PPPY FVM G ER XW7X SVIX LI Q MR ER E VIE TVSXI GX IH JV SQ
H YWX QS MWXY VIE RH SX LI V GSR XE Q MRE XMS R 7XS VIH V YQW SR
XL I MV W MHI W 1 EOIWYV I EPP GSR XE MRI VW EVI TVST IV P]Q EV OI H
E WXS XLIM V GS RX IR XW(M WTS WI SJ EPPS PH YW IH GS RX EMR IVWERH
XL IMV GS R XIRXW TVST I V P]
0L[LQJRI/XEULFDQWV
-R K IR IVEP EZSMH Q M\MR KHM JJI V IR XF VERHW S VX]T IW SJ
PY FVM G ER XW1ERY JEG XYVIV WFPIRHEH HMX MZI WMRXLIMV PY FV MGER XW
XS Q I IX GIV XEMR WT I GMJMGE XMS RW ERH TIVJS V Q E RG I
VIU YMV IQI RXW1M\ MRK H MJJIVI RX PYF V MGE R XWG ER MR XI VJI VI[ M XL
XL I TVST IVJY RG XMS RMR K SJ XL IW IEHH MXMZIW ERH PYF V MGE RX
T VSTI V XMI W[ LMG L [MPP H S[RK VEHI XL IMV MR XIRHI H WT IGMJ MIH
T IVJSV Q ER GI
2LO)LOWHUV
8 LI JS PPS[MR K. SL R (II VIS MPJMPX IVWE VI4 6 )*)6 6)(
c %YX SQS XMZI %R H0M K LX 8V YGO)R KMR I 3MP * MPX IVW
1 SW X.S LR ( II VIJMP XIVWG SR XE MRT VIWW YVI VIP MIJ ERH E RXM
H VEMRFE GO ZE PZI WJSVFI XXI V IR KMR I TVSX IG XMSR
3 XLIV SMP JMPXI VW Q E]F I YW IH MJ EF SZI VIGS Q Q IR HI H. SL R
(I IVI SMP JMPXI VW E VIRS XEZE MPEFPITVSZMH IH X LI]QI IX XL I
JS PPS[MRK WT IG MJMGE XMS R
c %7 8 &8IW XI H -R %GGSV HE RGI ; MXL 7% ).
,03 2 57$17$Y RLG GDP D J H21 /<X V HDT XDO LW\
JU HDVH LQW KLV DSS OLFDW LRQ ' 21 27P L [ DQ\ RWK HU
JUH D VHV LQW KLVD SSO LF DWLR Q '2 12 7X VHDQ \ %, 2
* 5($6 ( LQW KLVD SSO LF DWLR Q
-'0 - (
$,5 7 (03 ( 5$785 (
1/* ,*UDG H
,03 2 57$1 7 $Y RLG GD PDJ H 8 VHR IDOW HUQ DWLY H
OXE ULF DQWV F R XOG FDX VHU HGX FHG OL IHR I WKH
F RPSR QHQ W
,03 2 57$17$Y RLG GDP D J H) LOWUD WLRQ RI RLO VLV
F ULWLF DO WR SUR SHU O XEULF DWLR QS HUIRU PD QFH $O ZD \ V
F KDQ JHI LOWHU V UHJ XOD UO\
7TI GM JMGE XMS RW - RJS V Q E XMS R 7I V MEP 2YQ F IV0 SG EXMS RW
63(&,),&$7,216 ,1)250$7,216(5,$/180%(5/2&$7,216
6HULDO1XPEHU/RFDWLRQV
3URGXFW,GHQWLILFDWLRQ1XPEH U3,1
;L IR S VHIV MR K TE V XW SVW YF QMX XMR KE[ EVVER X] GPE MQ MX MW
-1 43 68%28 XL E X]S Y MRG PYH I XLIT VSHY GX MHI RX MJMGE XMS R
RY QFIV E RH X LI GS Q TS RI RX TVSH YG XMH I RX MJMGE XMS R RYQF IVW
8 LI PS GE XMS RSJMH IR XMJ MGE XMS RRYQ FI VW E RH GS Q TS RI RX
TVSH Y GX MHI RX MJMGE XMS RRYQ FI VW E VIWL S[R
1
1R WH * 6 KRZ Q
+ 8 LI TVSH YG XM HI RXMJ MGEX MSR RYQ FI V % MW PSG EX IH S R
XL I VIEV S JXLI Q EG LMR IJ VEQI
+ 8 LI TVSH YG XM HI RXMJ MGEX MSR RYQ FI V & MW PSG EX IH S R
XL I WMH ISJ XLIQ E GLM RI LMX GL TPE XI
(QJLQH,GHQWLILFDWLRQ1XPEHU
1
)R KMR I WI V MEP RYQF IV% MW PSG EX IH SRXL I IR K MRI WL VSYH
+\GURVWDWLF7UDQVD[OH,GHQWLILFDWLRQ1XPEHU
1
,] HVSW XEX MG8VERW E\ PIW IVM E PRY Q FI V% MW PSG EXIH SR XL I
VIE VSJX LI V MK LX E\ PIG EW I
$% $ $
Thank you very much for
your reading. Please Click
Here. Then Get COMPLETE
MANUAL. NO WAITING
NOTE:
If there is no response to
click on the link above,
please download the PDF
document first and then
click on it.
)RK MR I +EW 7TI GMJMG EX MSR W
(1*,1(*$6 63(&,),&$7, 216
6SHFLILFDWLRQV
*HQHUDO6SHFLILFDWLRQV
* (QJL QH
0 DNH .R KOHU
0 RGHO 1XP EHU & 96
+R UVHSR Z HU N: KS
'LV SODF HPH QW F F F XLQ
%R UH P P LQ
6W URN H PP LQ
* ( QJ LQH
0 DNH .R KOHU
0 RGHO 1XP EHU & 9
+R UVHSR ZH U N: KS
'LV SODF HPH QW F F F XLQ
%R UH P P LQ
6W URN H PP LQ
$O O(Q JLQ H V
&\ OLQGH UV
6W URN H &\F OH
9DO YHV 2 YHUKH DG9DO YHV
&R PS UHVV LRQ 5D WLR *
&R PS UHVV LRQ 5D WLR *
&R PSUH VVLR Q5 HO HDVH $X W RP D WLF&H QWU LIX JDO
&UDQ NVK DIW 7\ SH 9H UWL FDO
/XE ULFD WLRQ )XO O\3 UHVVXU L]H G N3D SV L
2L O)LO WHU 6LQ JOH(OH PHQ W )X OO )OR Z6S LQ2 Q)L OWHU
&UD QNFD V H2LO &D SD F LW\ *
Z R2L O)LO WHU / TW
Z 2 LO )LOWH U / TW
&UD QNFD V H2LO &D SD F LW\ *
Z R2L O)LO WHU / TW
Z 2 LO )LOWH U / TW
&R ROLQ J6 \VWHP $LU&R ROH G
$LU& OHDQ HU 'X D O6WDJH
0 XIIO HU + RUL] RQWDO'L VFKD UJ H% HORZ )UD PH
)XH O &DSDF LW\ / J DO
)XH O)L OWHU 5HSOD F HDEO H,Q /LQ H 7\SH
)XH O 6KXW 2 II 6RO HQRL G 5HSO DFHDE OH % HO RZ& DUE XU HWR U)O RDW %RZO
6SDUN 3OX J7\SH &K DPS LRQ Š5& < &RU (T XLY DO HQW
)RK MR I +EW 7TI GMJMG EX MSR W
(1*,1(*$6 63(&,),&$7, 216
7HVWVDQG$GMXVWPHQWV6SHFLILFDWLRQV
9DO YH$G MXVW PHQ W 1R QH +\G UDX OLF/ LIW HUV
$X W RPD WLF &R PSUH VVLR Q5 H OH DVH 0LQ LPX P/ LIW( QJL QH& ROG P P L Q
2L O3UH VVX UH 0 LQLP XP DW USP N 3D SV L
&UD QNFD V H9D FXX P 0LQ LPX P$ W2S HUD WLQJ 7H PS FP LQ
,JQ LWLR Q0R GX OH $LU* DS PP LQ
0 D[LP XP & RP SUH VVLR Q3 UHV VXU H 9D ULDW LRQ %H WZHH Q& \O LQGH UV N3D SVL
&\ OLQG HU& RPS UHV VL RQ3U H VVXUH P LQLP XP N 3D SVL
2L O3UH VVXUH 6HQ VRU $F WLYD WHV N 3D SV L
&D UEXU HWR U6 ORZ ,GOH 0L[ WXU H6F UHZ ,QLW LDO6 H WWL QJ /LJ KWO \6H DW7 KHQ 7XUQ2 XW
)XH O 3UH VVXUH PL QLP XP N 3D SVL
)XH O )ORZ P LQLP XP / KU JSK
6OR Z ,GOH 6SHH G “ U SP
)DV W,GO H6SHHG “ U SP
6SDUN 3OX J* DS P P LQ
5HSDLU6SHFLILFDWLRQV
&\ OLQG HU +HD G
&\ OLQG HU +HD G)O DWQ HVV 0 D[LP XP :DUS P P LQ
3X VK5 RG
0 D[LP XP %HQG PP LQ
9DO YHVD QG 9DO YH/ LIWH UV
+\ GUD XOLF /LIWHU WR& UDQ NFDV H 5X QQL QJ &OH DUD QFH P P L Q
,QWD NH9DO YHWR *XLG H &OH DUDQF H PP L Q
,QWD NH9DO YH6WHP 2 ' PP L Q
2Y HUVL ]H P P L Q
,QWD NH9DO YH* XLG H ,'
1H Z PP LQ
0 D[LP XP P P LQ
2Y HUVL ]H P P L Q
([K D XVW 9DOYH WR *XLG H &OH DUD QFH P P LQ
([K D XVW9D OY H 6WHP 2' PP LQ
2Y HUVL ]H P P L Q
([ KDX VW9DO YH* XLG H,'
1H Z PP LQ
0 D[LP XP P P LQ
2Y HUVL ]H P P L Q
9DO YH*X L GH5 HDP HU
6WDQGDU G PP LQ
2Y HUV L]H PP PP LQ
,QWD NH9DO YH/ LIW 0LQ L PXP ( QJL QH& ROG P P L Q
([ KDXV W9DOYH /LIW 0L QLP X P(Q JLQ H &R OG PP LQ
9DO YH)D FH$Q JOH ƒ
9DO YH6 HDW$ QJOH ƒ
9DO YH0 DUJ LQ0 LQLP XP PP LQ