ꢀ
$0(5,&$6
&RUSRUDWHꢃ2IILFH
ꢅꢆꢃꢃ#ꢑHVW#&KDQGOHU#%OYGꢌ
&KDQGOHU<#ꢊ=##ꢇꢃꢅꢅꢉꢁꢈꢄꢍꢍ
7HOꢐ##ꢉꢇꢂꢁꢋꢍꢅꢁꢋꢅꢂꢂ##)D[ꢐ##ꢉꢇꢂꢁꢋꢍꢅꢁꢋꢅꢋꢋ
7HFKQLFDO#6XSSRUWꢐ#ꢉꢇꢂꢁꢋꢍꢅꢁꢋꢈꢅꢋ
ꢑHE#ꢊGGUHVVꢐ#KWWSꢐꢏꢏZZZꢌPLFURFKLSꢌFRP
:25/':,'(ꢀ6$/(6ꢀ$1'ꢀ6(59,&(
-DSDQ
0LFURFKLS#7HFKQRORJ\#-DSDQ#.ꢌ.ꢌ
%HQH[#6ꢁꢄ#ꢈ)
ꢆꢁꢄꢇꢁꢅꢂ<#6KLQ\RNRKDPD
.RKRNXꢁ.X<#ꢒRNRKDPDꢁVKL
.DQDJDZD<#ꢅꢅꢅꢁꢂꢂꢆꢆ<#-DSDQ
7HOꢐ#ꢇꢄꢁꢉꢃꢁꢉꢋꢄꢁ#ꢈꢄꢈꢈ##)D[ꢐ#ꢇꢄꢁꢉꢃꢁꢉꢋꢄꢁꢈꢄꢅꢅ
$6,$ꢄ3$&,),&
$XVWUDOLD
0LFURFKLS#7HFKQRORJ\#ꢊXVWUDOLD#3W\#/WG
6XLWH#ꢅꢅ<#ꢉꢄ#5DZVRQ#6WUHHW
(SSLQJ#ꢅꢄꢅꢄ<#16ꢑ
ꢊXVWUDOLD
7HOꢐ#ꢈꢄꢁꢅꢁꢍꢇꢈꢇꢁꢈꢋꢆꢆ#)D[ꢐ#ꢈꢄꢁꢅꢁꢍꢇꢈꢇꢁꢈꢋꢃꢃ
.RUHD
5RFN\ꢃ0RXQWDLQ
&KLQDꢃꢇꢃ%HLMLQJ
0LFURFKLS#7HFKQRORJ\#.RUHD
ꢄꢈꢇꢁꢄ<#ꢒRXQJER#%OGJꢌ#ꢆ#)ORRU
6DPVXQJꢁ'RQJ<#.DQJQDPꢁ.X
6HRXO<#.RUHD#ꢄꢆꢃꢁꢇꢇꢅ
ꢅꢆꢃꢃ#ꢑHVW#&KDQGOHU#%OYGꢌ
&KDQGOHU<#ꢊ=##ꢇꢃꢅꢅꢉꢁꢈꢄꢍꢍ
7HOꢐ##ꢉꢇꢂꢁꢋꢍꢅꢁꢋꢍꢈꢈ##)D[ꢐ##ꢉꢇꢂꢁꢋꢍꢅꢁꢋꢉꢃꢈ
0LFURFKLS# 7HFKQRORJ\# &RQVXOWLQJ# "6KDQJKDL$
&Rꢌ<#/WGꢌ<#%HLMLQJ#/LDLVRQ#2IILFH
8QLW#ꢍꢄꢃ
1HZ#&KLQD#+RQJ#.RQJ#0DQKDWWDQ#%OGJꢌ
1Rꢌ#ꢈ#&KDR\DQJPHQ#%HLGDMLH#
%HLMLQJ<#ꢄꢂꢂꢂꢅꢋ<#1Rꢌ#&KLQD
$WODQWD
ꢃꢂꢂ#6XJDU#0LOO#5RDG<#6XLWH#ꢅꢂꢂ%
ꢊWODQWD<#*ꢊ##ꢆꢂꢆꢃꢂ
7HOꢐ#ꢋꢋꢂꢁꢈꢉꢂꢁꢂꢂꢆꢉ##)D[ꢐ#ꢋꢋꢂꢁꢈꢉꢂꢁꢂꢆꢂꢋ
7HOꢐ#ꢇꢅꢁꢅꢁꢃꢃꢉꢁꢋꢅꢂꢂ##)D[ꢐ#ꢇꢅꢁꢅꢁꢃꢃꢇꢁꢃꢍꢆꢉ
6LQJDSRUH
0LFURFKLS#7HFKQRORJ\#6LQJDSRUH#3WH#/WGꢌ
ꢅꢂꢂ#0LGGOH#5RDG
ꢓꢂꢋꢁꢂꢅ#3ULPH#&HQWUH
6LQJDSRUH<#ꢄꢇꢇꢍꢇꢂ
7HOꢐ##ꢈꢃꢁꢆꢆꢉꢁꢇꢇꢋꢂ##)D[ꢐ#ꢈꢃꢁꢆꢆꢉꢁꢇꢇꢃꢂ
7HOꢐ#ꢇꢈꢁꢄꢂꢁꢇꢃꢅꢇꢅꢄꢂꢂ#)D[ꢐ#ꢇꢈꢁꢄꢂꢁꢇꢃꢅꢇꢅꢄꢂꢉ
&KLQDꢃꢇꢃ&KHQJGX
$XVWLQꢃꢇꢃ$QDORJ
0LFURFKLS# 7HFKQRORJ\# &RQVXOWLQJ# "6KDQJKDL$
&Rꢌ<#/WGꢌ<#&KHQJGX#/LDLVRQ#2IILFH
5Pꢌ#ꢅꢉꢂꢄ<#0LQJ#;LQJ#)LQDQFLDO#7RZHU
1Rꢌ#ꢇꢇ#7,'8#6WUHHW
&KHQJGX#ꢈꢄꢂꢂꢄꢈ<#&KLQD
7HOꢐ#ꢇꢈꢁꢅꢇꢁꢈꢋꢈꢈꢅꢂꢂ##)D[ꢐ#ꢇꢈꢁꢅꢇꢁꢈꢋꢈꢈꢃꢍꢍ
ꢇꢆꢂꢆ#0R3DF#([SUHVVZD\#1RUWK
6XLWH#ꢊꢁꢅꢂꢄ
ꢊXVWLQ<#7;##ꢋꢇꢋꢃꢍ
7DLZDQ
0LFURFKLS#7HFKQRORJ\#7DLZDQ
ꢄꢄ)ꢁꢆ<#1Rꢌ#ꢅꢂꢋ
7HOꢐ#ꢃꢄꢅꢁꢆꢉꢃꢁꢅꢂꢆꢂ##)D[ꢐ#ꢃꢄꢅꢁꢆꢉꢃꢁꢈꢂꢇꢃ
%RVWRQ
ꢅ#/DQ#'ULYH<#6XLWH#ꢄꢅꢂ
ꢑHVWIRUG<#0ꢊ##ꢂꢄꢇꢇꢈ
7HOꢐ#ꢍꢋꢇꢁꢈꢍꢅꢁꢆꢇꢉꢇ##)D[ꢐ#ꢍꢋꢇꢁꢈꢍꢅꢁꢆꢇꢅꢄ
7XQJ#+XD#1RUWK#5RDG
7DLSHL<#ꢄꢂꢃ<#7DLZDQ
7HOꢐ#ꢇꢇꢈꢁꢅꢁꢅꢋꢄꢋꢁꢋꢄꢋꢃ##)D[ꢐ#ꢇꢇꢈꢁꢅꢁꢅꢃꢉꢃꢁꢂꢄꢆꢍ
&KLQDꢃꢇꢃ)X]KRX
0LFURFKLS# 7HFKQRORJ\# &RQVXOWLQJ# "6KDQJKDL$
&Rꢌ<#/WGꢌ<#)X]KRX#/LDLVRQ#2IILFH
5Pꢌ#ꢃꢆꢄ<#1RUWK#%XLOGLQJ
)XMLDQ#)RUHLJQ#7UDGH#&HQWHU#+RWHO
ꢋꢆ#ꢑXVL#5RDG
)X]KRX#ꢆꢃꢂꢂꢂꢄ<#&KLQD
%RVWRQꢃꢇꢃ$QDORJ
8QLW#ꢊꢁꢇꢁꢄ#0LOOEURRN#7DUU\#&RQGRPLQLXP
ꢍꢋ#/RZHOO#5RDG
&RQFRUG<#0ꢊ##ꢂꢄꢋꢉꢅ
(8523(
'HQPDUN
7HOꢐ#ꢍꢋꢇꢁꢆꢋꢄꢁꢈꢉꢂꢂ##)D[ꢐ#ꢍꢋꢇꢁꢆꢋꢄꢁꢂꢂꢃꢂ
0LFURFKLS#7HFKQRORJ\#'HQPDUN#ꢊS6
5HJXV#%XVLQHVV#&HQWUH
/DXWUXS#KRM#ꢄꢁꢆ
%DOOHUXS#'.ꢁꢅꢋꢃꢂ#'HQPDUN
7HOꢐ#ꢉꢃ#ꢉꢉꢅꢂ#ꢍꢇꢍꢃ#)D[ꢐ#ꢉꢃ#ꢉꢉꢅꢂ#ꢍꢍꢄꢂ
7HOꢐ#ꢇꢈꢁꢃꢍꢄꢁꢋꢃꢃꢋꢃꢈꢆ##)D[ꢐ#ꢇꢈꢁꢃꢍꢄꢁꢋꢃꢃꢋꢃꢋꢅ
&KLFDJR
&KLQDꢃꢇꢃ6KDQJKDL
0LFURFKLS# 7HFKQRORJ\# &RQVXOWLQJ# "6KDQJKDL$
&Rꢌ<#/WGꢌ
5RRP#ꢋꢂꢄ<#%OGJꢌ#%
ꢆꢆꢆ#3LHUFH#5RDG<#6XLWH#ꢄꢇꢂ
,WDVFD<#,/##ꢈꢂꢄꢉꢆ
7HOꢐ#ꢈꢆꢂꢁꢅꢇꢃꢁꢂꢂꢋꢄ#)D[ꢐ#ꢈꢆꢂꢁꢅꢇꢃꢁꢂꢂꢋꢃ
'DOODV
ꢉꢃꢋꢂ#ꢑHVWJURYH#'ULYH<#6XLWH#ꢄꢈꢂ
ꢊGGLVRQ<#7;#ꢋꢃꢂꢂꢄ
7HOꢐ#ꢍꢋꢅꢁꢇꢄꢇꢁꢋꢉꢅꢆ##)D[ꢐ#ꢍꢋꢅꢁꢇꢄꢇꢁꢅꢍꢅꢉ
)UDQFH
)DU#(DVW#,QWHUQDWLRQDO#3OD]D
1Rꢌ#ꢆꢄꢋ#;LDQ#;LD#5RDG
6KDQJKDL<#ꢅꢂꢂꢂꢃꢄ
ꢊUL]RQD#0LFURFKLS#7HFKQRORJ\#6ꢊ5/
3DUF#G¶ꢊFWLYLWH#GX#0RXOLQ#GH#0DVV\
ꢉꢆ#5XH#GX#6DXOH#7UDSX
7HOꢐ#ꢇꢈꢁꢅꢄꢁꢈꢅꢋꢃꢁꢃꢋꢂꢂ##)D[ꢐ#ꢇꢈꢁꢅꢄꢁꢈꢅꢋꢃꢁꢃꢂꢈꢂ
%DWLPHQW#ꢊ#ꢁ#OHU#(WDJH
ꢍꢄꢆꢂꢂ#0DVV\<#)UDQFH
7HOꢐ#ꢆꢆꢁꢄꢁꢈꢍꢁꢃꢆꢁꢈꢆꢁꢅꢂ##)D[ꢐ#ꢆꢆꢁꢄꢁꢈꢍꢁꢆꢂꢁꢍꢂꢁꢋꢍ
'D\WRQ
&KLQDꢃꢇꢃ6KHQ]KHQ
7ZR#3UHVWLJH#3ODFH<#6XLWH#ꢄꢆꢂ
0LDPLVEXUJ<#2+#ꢉꢃꢆꢉꢅ
7HOꢐ#ꢍꢆꢋꢁꢅꢍꢄꢁꢄꢈꢃꢉ##)D[ꢐ#ꢍꢆꢋꢁꢅꢍꢄꢁꢍꢄꢋꢃ
0LFURFKLS# 7HFKQRORJ\# &RQVXOWLQJ# "6KDQJKDL$
&Rꢌ<#/WGꢌ<#6KHQ]KHQ#/LDLVRQ#2IILFH
5Pꢌ#ꢄꢆꢄꢃ<#ꢄꢆꢏ)<#6KHQ]KHQ#.HUU\#&HQWUH<
5HQPLQQDQ#/X
6KHQ]KHQ#ꢃꢄꢇꢂꢂꢄ<#&KLQD
7HOꢐ#ꢇꢈꢁꢋꢃꢃꢁꢅꢆꢃꢂꢆꢈꢄ##)D[ꢐ#ꢇꢈꢁꢋꢃꢃꢁꢅꢆꢈꢈꢂꢇꢈ
*HUPDQ\
ꢊUL]RQD#0LFURFKLS#7HFKQRORJ\#*PE+
*XVWDYꢁ+HLQHPDQQ#5LQJ#ꢄꢅꢃ
'ꢁꢇꢄꢋꢆꢍ#0XQLFK<#*HUPDQ\
'HWURLW
7ULꢁꢊWULD#2IILFH#%XLOGLQJ#
ꢆꢅꢅꢃꢃ#1RUWKZHVWHUQ#+LJKZD\<#6XLWH#ꢄꢍꢂ
)DUPLQJWRQ#+LOOV<#0,##ꢉꢇꢆꢆꢉ
7HOꢐ#ꢅꢉꢇꢁꢃꢆꢇꢁꢅꢅꢃꢂ#)D[ꢐ#ꢅꢉꢇꢁꢃꢆꢇꢁꢅꢅꢈꢂ
7HOꢐ#ꢉꢍꢁꢇꢍꢁꢈꢅꢋꢁꢄꢉꢉ#ꢂ##)D[ꢐ#ꢉꢍꢁꢇꢍꢁꢈꢅꢋꢁꢄꢉꢉꢁꢉꢉ
+RQJꢀ.RQJ
*HUPDQ\ꢃꢇꢃ$QDORJ
/RFKKDPHU#6WUDVVH#ꢄꢆ
'ꢁꢇꢅꢄꢃꢅ#0DUWLQVULHG<#*HUPDQ\
7HOꢐ#ꢉꢍꢁꢇꢍꢁꢇꢍꢃꢈꢃꢂꢁꢂ##)D[ꢐ#ꢉꢍꢁꢇꢍꢁꢇꢍꢃꢈꢃꢂꢁꢅꢅ
0LFURFKLS#7HFKQRORJ\#+RQJNRQJ#/WGꢌ
8QLW#ꢍꢂꢄ<#7RZHU#ꢅ<#0HWURSOD]D
ꢅꢅꢆ#+LQJ#)RQJ#5RDG
.ZDL#)RQJ<#1ꢌ7ꢌ<#+RQJ#.RQJ
7HOꢐ#ꢇꢃꢅꢁꢅꢉꢂꢄꢁꢄꢅꢂꢂ##)D[ꢐ#ꢇꢃꢅꢁꢅꢉꢂꢄꢁꢆꢉꢆꢄ
/RVꢃ$QJHOHV
ꢄꢇꢅꢂꢄ#9RQ#.DUPDQ<#6XLWH#ꢄꢂꢍꢂ
,UYLQH<#&ꢊ##ꢍꢅꢈꢄꢅ
7HOꢐ#ꢍꢉꢍꢁꢅꢈꢆꢁꢄꢇꢇꢇ##)D[ꢐ#ꢍꢉꢍꢁꢅꢈꢆꢁꢄꢆꢆꢇ
,WDO\
ꢊUL]RQD#0LFURFKLS#7HFKQRORJ\#65/
&HQWUR#'LUH]LRQDOH#&ROOHRQL#
3DOD]]R#7DXUXV#ꢄ#9ꢌ#/H#&ROOHRQL#ꢄ
ꢅꢂꢂꢉꢄ#ꢊJUDWH#%ULDQ]D
,QGLD
0LFURFKLS#7HFKQRORJ\#,QFꢌ
,QGLD#/LDLVRQ#2IILFH
'LY\DVUHH#&KDPEHUV
1HZꢃ<RUN
ꢄꢃꢂ#0RWRU#3DUNZD\<#6XLWH#ꢅꢂꢅ
+DXSSDXJH<#1ꢒ##ꢄꢄꢋꢇꢇ
7HOꢐ#ꢈꢆꢄꢁꢅꢋꢆꢁꢃꢆꢂꢃ##)D[ꢐ#ꢈꢆꢄꢁꢅꢋꢆꢁꢃꢆꢆꢃ
0LODQ<#,WDO\#
7HOꢐ#ꢆꢍꢁꢂꢆꢍꢁꢈꢃꢋꢍꢄꢁꢄ##)D[ꢐ#ꢆꢍꢁꢂꢆꢍꢁꢈꢇꢍꢍꢇꢇꢆ
ꢄ#)ORRU<#ꢑLQJ#ꢊ#"ꢊꢆꢏꢊꢉ$
1Rꢌ#ꢄꢄ<#2¶6KDXJQHVVH\#5RDG
%DQJDORUH<#ꢃꢈꢂ#ꢂꢅꢃ<#,QGLD
7HOꢐ#ꢍꢄꢁꢇꢂꢁꢅꢅꢍꢂꢂꢈꢄ#)D[ꢐ#ꢍꢄꢁꢇꢂꢁꢅꢅꢍꢂꢂꢈꢅ
6DQꢃ-RVH
0LFURFKLS#7HFKQRORJ\#,QFꢌ
ꢅꢄꢂꢋ#1RUWK#)LUVW#6WUHHW<#6XLWH#ꢃꢍꢂ
6DQ#-RVH<#&ꢊ##ꢍꢃꢄꢆꢄ
8QLWHGꢃ.LQJGRP
ꢊUL]RQD#0LFURFKLS#7HFKQRORJ\#/WGꢌ
ꢃꢂꢃ#(VNGDOH#5RDG
ꢑLQQHUVK#7ULDQJOH
ꢑRNLQJKDP#
%HUNVKLUH<#(QJODQG#5*ꢉꢄ#ꢃ78
7HOꢐ#ꢉꢉ#ꢄꢄꢇ#ꢍꢅꢄ#ꢃꢇꢈꢍ )D[ꢐ#ꢉꢉꢁꢄꢄꢇ#ꢍꢅꢄꢁꢃꢇꢅꢂ
7HOꢐ#ꢉꢂꢇꢁꢉꢆꢈꢁꢋꢍꢃꢂ##)D[ꢐ#ꢉꢂꢇꢁꢉꢆꢈꢁꢋꢍꢃꢃ
7RURQWR
ꢈꢅꢇꢃ#1RUWKDP#'ULYH<#6XLWH#ꢄꢂꢇ
0LVVLVVDXJD<#2QWDULR#/ꢉ9#ꢄ;ꢃ<#&DQDGD
7HOꢐ#ꢍꢂꢃꢁꢈꢋꢆꢁꢂꢈꢍꢍ##)D[ꢐ##ꢍꢂꢃꢁꢈꢋꢆꢁꢈꢃꢂꢍ
ꢀꢁꢂꢀꢃꢂꢀꢃ
'6ꢃꢃꢃꢅꢆ&ꢇSDJHꢀꢃꢆ
ꢀꢁꢂꢂꢃꢀ0LFURFKLSꢀ7HFKQRORJ\ꢀ,QFꢄ