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(KIWTGKNNWUVTCVGUVJGEJCPIGKPFGVGEVQTGNGEVTKECNQWVRWVFWTKPIGNWVKQPQHCEQORQPGPV

(KIWTG&GVGEVQTQWVRWVFWTKPIEQORQPGPVGNWVKQP

 &GVGEVQTDTKFIGDCNCPEGF
 (KTUV EQORQPGPV DGIKPU VQ GNWVG HTQO EQNWOP CPF VQ DG UGPUGF D[ VJG OGCUWTGOGPV
VJGTOKUVQT
 2GCMEQPEGPVTCVKQPQHHKTUVEQORQPGPV
 5GEQPF EQORQPGPV DGIKPU VQ GNWVG HTQO EQNWOP CPF VQ DG UGPUGF D[ VJG OGCUWTGOGPV
VJGTOKUVQT
 2GCMEQPEGPVTCVKQPQHUGEQPFEQORQPGPV

+PCFFKVKQPVQCORNKH[KPIVJGFKHHGTGPVKCNUKIPCNFGXGNQRGFDGVYGGPVJGFGVGEVQT UVYQVJGTOKUVQTU
VJGRTGCORNKHKGTCNUQUWRRNKGUFTKXGEWTTGPVVQVJGFGVGEVQTDTKFIG6JGRTGCORNKHKGTCNUQUWRRNKGU
FTKXGEWTTGPVVQVJGFGVGEVQTDTKFIG6JGXQNVCIGUKIPCNKUEQPXGTVGFVQCVQOKNNKCOR
O#
EWTTGPVNQQRHQTVTCPUOKUUKQPVQVJG)%%QPVTQNNGT6JGUKIPCNKURTQRQTVKQPCNVQVJGEQPEGPVTCVKQP
QHCEQORQPGPVFGVGEVGFKPVJGICUUCORNG6JGRTGCORNKHKGTRTQXKFGUHQWTFKHHGTGPVICKPEJCPPGNU
CUYGNNCUEQORGPUCVKQPHQTDCUGNKPGFTKHV6JGUKIPCNUHTQOVJGRTGCORNKHKGTCTGUGPVVQVJG)%
%QPVTQNNGTHQTEQORWVCVKQPTGEQTFKPIQPCRTKPVGTQTXKGYKPIQPC2%OQPKVQTQT.%&

 &'5%4+26+10
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 &#6##%37+5+6+10

'XGT[UGEQPFGZCEVN[GSWKURCEGFFCVCUCORNGUCTGVCMGPHQTCPCN[UKUD[VJG)%%QPVTQNNGT

KGQPEGGXGT[OKNNKUGEQPFU'CEJFCVCUCORNGCHVGTJCXKPIDGGPRTGEKUKQPCORNKHKGFKU
UWDLGEVGFVQCUKZVGGPDKVCPCNQIVQFKIKVCN
#&EQPXGTUKQP6JGUCORNKPIHTGSWGPE[QH*GTV\

*\YCUEJQUGPVQTGFWEG*\PQTOCNOQFGPQKUG#HVGTGCEJRQKPVQPVJGEJTQOCVQITCRJ
UKIPCNKUUCORNGFVJGTGUWNVKPIPWODGTKUUVQTGFKPCDWHHGTCTGCKPVJG)%%QPVTQNNGTçUOGOQT[
HQTRTQEGUUKPI

#UCRCTVQHVJGFCVCCESWKUKVKQPRTQEGUUITQWRUQHKPEQOKPIFCVCUCORNGUCTGCXGTCIGFVQIGVJGT
DGHQTGVJGTGUWNVKUUVQTGFVQVJG%QPVTQNNGTçUOGOQT[HQTRTQEGUUKPI0QPQXGTNCRRKPIITQWRU
QH0UCORNGUCTGCXGTCIGFCPFUVQTGFCPFVJWUTGFWEGVJGGHHGEVKXGKPEQOKPIFCVCTCVGVQ0
UCORNGUUGEQPF(QTGZCORNGKH0VJGPCVQVCNQHQT
CXGTCIGFFCVCUCORNGUCTG
UVQTGFGXGT[UGEQPF6JGXCNWGHQTVJGXCTKCDNG0KUFGVGTOKPGFD[VJGUGNGEVKQPQHC2GCM9KFVJ
RCTCOGVGT
296JGTGNCVKQPUJKRKU

029UGEQPFU

YJGTG29KUIKXGPKPUGEQPFU#NNVJGXCTKQWUFGVCKNUKPVJGCPCN[UKURTQEGUUCTGKPFGRGPFGPVQH
VJGXCNWGQH0#NNQYCDNGXCNWGUQH0CTGVQYJKEJEQTTGURQPFUVQXCNWGUQH29HTQO
VQUGEQPFU

6JGXCTKCDNG0KUMPQYPCUVJGKPVGITCVKQPHCEVQT6JKUVGTOKUWUGFDGECWUG0FGVGTOKPGUJQY
OCP[RQKPVUCTGCXGTCIGFQTKPVGITCVGFVQHQTOCUKPINGXCNWG6JGKPVGITCVKQPQHFCVCWRQPKPRWV
DGHQTGUVQTKPIUGTXGUVYQRWTRQUGU(KTUVVJGUVCVKUVKECNPQKUGQPVJGKPRWVUKIPCNKUTGFWEGFD[
VJG USWCTG TQQV QH 0  +P VJG ECUG QH 0   C PQKUG TGFWEVKQP QH VYQ YQWNF DG TGCNK\GF
5GEQPFN[ VJG KPVGITCVKQP HCEVQT EQPVTQNU VJG DCPFYKFVJ QH VJG EJTQOCVQITCRJ UKIPCN  +V KU
PGEGUUCT[VQOCVEJVJGDCPFYKFVJQHVJGKPRWVUKIPCNVQVJCVQHVJGCPCN[UKUCNIQTKVJOUKPVJG)%
%QPVTQNNGT6JKURTGXGPVUUOCNNUJQTVFWTCVKQPRGTVWTDCVKQPUHTQODGKPITGEQIPK\GFCUVTWGRGCMU
D[VJGRTQITCO+VKUVJGTGHQTGKORQTVCPVVQEJQQUGC2GCM9KFVJEQTTGURQPFKPIVQVJGPCTTQYGUV
RGCMKPCITQWRWPFGTEQPUKFGTCVKQP

5'%6+10 
-81  /1&'.#)#5%*41/#61)4#2*

 2'#-&'6'%6+10

(QTPQTOCNCTGCQTRGCMJGKIJVEQPEGPVTCVKQPGXCNWCVKQPVJGFGVGTOKPCVKQPQHCRGCM UUVCTVRGCM
RQKPVCPFGPFKUCWVQOCVKE6JGOCPWCNFGVGTOKPCVKQPQHUVCTVCPFGPFRQKPVUKUWUGFQPN[HQT
CTGCECNEWNCVKQPUKPVJG(QTEGF+PVGITCVKQPOQFG#WVQOCVKEFGVGTOKPCVKQPQHRGCMQPUGVQTUVCTV
KU KPKVKCVGF YJGPGXGT +PVGITCVG +PJKDKV KU VWTPGF QHH  #PCN[UKU KU UVCTVGF KP C TGIKQP QH UKIPCN
SWKGUEGPEG CPF UVCDKNKV[ UWEJ VJCV VJG UKIPCN NGXGN CPF CEVKXKV[ ECP DG EQPUKFGTGF CU DCUGNKPG
XCNWGU+VKUKORQTVCPVVJCVVJKUDGVJGECUGDGECWUGVJGCUUWORVKQPKUOCFGD[VJG)%%QPVTQNNGT
UQHVYCTG

*CXKPIKPKVKCVGFCRGCMUGCTEJD[VWTPKPI+PJKDKVQHHVJG)%%QPVTQNNGTRGTHQTOUCRQKPVD[RQKPV
GZCOKPCVKQPQHVJGUKIPCNUNQRG6JKUKUCEJKGXGFD[WUKPICFKIKVCNUNQRGFGVGEVKQPHKNVGTYJKEJ
KU C EQODKPCVKQP NQY RCUU HKNVGT CPF FKHHGTGPVKCVQT  6JG QWVRWV QH VJKU FGVGEVQT KU EQPUVCPVN[
EQORCTGFVQCU[UVGOEQPUVCPVGPVGTGFD[VJGQRGTCVQTECNNGF5NQRG5GPUKVKXKV[#FGHCWNVXCNWG
QHKUCUUWOGFKHPQGPVT[KUOCFG.QYGTXCNWGUOCMGRGCMQPUGVFGVGEVKQPOQTGUGPUKVKXGCPF
JKIJGTXCNWGUOCMGFGVGEVKQPNGUUUGPUKVKXG*KIJGTXCNWGU
VQYQWNFDGCRRTQRTKCVGHQT
PQKU[UKIPCNUGIJKIJCORNKHKGTICKP

2GCMVGTOKPCVKQPKUFGVGTOKPGFD[VJGUCOGCRRNKECVKQPQHVJKUFGVGEVQTVQVJGUKIPCNDWVKPVJG
TGXGTUG UGPUG  1PUGV KU FGHKPGF YJGTG VJG FGVGEVQT QWVRWV GZEGGFU VJG DCUGNKPG EQPUVCPV DWV
VGTOKPCVKQPKUFGHKPGFUWDUGSWGPVN[YJGTGVJGFGVGEVQTQWVRWVKUNGUUVJCPVJGUCOGEQPUVCPV

5GSWGPEGUQHHWUGFRGCMUCTGCNUQCWVQOCVKECNN[JCPFNGF6JKUKUFQPGD[VGUVKPIGCEJVGTOKPCVKQP
RQKPVVQUGGKHVJGTGIKQPKOOGFKCVGN[HQNNQYKPIKVUCVKUHKGUVJGETKVGTKCQHCDCUGNKPG#DCUGNKPG
TGIKQPOWUVJCXGCUNQRGFGVGEVQTXCNWGNGUUVJCPVJGOCIPKVWFGQHVJGDCUGNKPGEQPUVCPVHQTC
PWODGT QH UGSWGPVKCN RQKPVU  9JGP C DCUGNKPG TGIKQP KU HQWPF VJKU VGTOKPCVGU C UGSWGPEG QH
RGCMU

#\GTQTGHGTGPEGNKPGHQTRGCMJGKIJVCPFCTGCFGVGTOKPCVKQPKUGUVCDNKUJGFD[GZVGPFKPICNKPG
HTQOVJGRQKPVQHVJGQPUGVQHVJGRGCMUGSWGPEGVQVJGRQKPVQHVJGVGTOKPCVKQP6JGXCNWGUQH
VJGUGVYQRQKPVUCTGHQWPFD[CXGTCIKPIVJGHQWTKPVGITCVGFRQKPVULWUVRTKQTVQVJGQPUGVRQKPVCPF
LWUV CHVGT VJG VGTOKPCVKQP RQKPVU TGURGEVKXGN[  6JG \GTQ TGHGTGPEG NKPG YKNN KP IGPGTCN DG
PQPJQTK\QPVCNCPFVJWUEQORGPUCVGUHQTCP[NKPGCTFTKHVKPVJGU[UVGOHTQOVJGVKOGVJGRGCM
UGSWGPEGUVCTVUWPVKNKVGPFU

+PCUKPINGRGCMUKVWCVKQPRGCMCTGCKUVJGCTGCQHVJGEQORQPGPVRGCMDGVYGGPVJGEWTXGCPFVJG
\GTQTGHGTGPEGNKPG6JGRGCMJGKIJVKUVJGFKUVCPEGHTQOVJG\GTQTGHGTGPEGNKPGVQVJGOCZKOWO
RQKPVQPVJGEQORQPGPVEWTXG6JGXCNWGCPFNQECVKQPQHVJGOCZKOWORQKPVKUFGVGTOKPGFHTQO
SWCFTCVKEKPVGTRQNCVKQPVJTQWIJVJGVJTGGJKIJGUVRQKPVUCVVJGRGCMQHVJGFKUETGVGXCNWGFEWTXG
UVQTGFKPVJG)%%QPVTQNNGT

 &'5%4+26+10
/1&'.#)#5%*41/#61)4#2* -81 

(QTHWUGFRGCMUGSWGPEGUVJKUKPVGTRQNCVKQPVGEJPKSWGKUWUGFDQVJHQTRGCMUCUYGNNCUXCNNG[U

OKPKOWORQKPVU+PVJGNCVVGTECUGNKPGUCTGFTQRRGFHTQOVJGKPVGTRQNCVGFXCNNG[RQKPVUVQVJG
\GTQTGHGTGPEGNKPGVQRCTVKVKQPVJGHWUGFRGCMCTGCUKPVQKPFKXKFWCNRGCMU6JGWUGQHSWCFTCVKE
KPVGTRQNCVKQP KORTQXGU DQVJ CTGC CPF JGKIJV ECNEWNCVKQP CEEWTCE[ CPF GNKOKPCVGU VJG GHHGEVU QH
XCTKCVKQPUKPVJGKPVGITCVKQPHCEVQTQPVJGUGECNEWNCVKQPU

(QTECNKDTCVKQPVJG)%%QPVTQNNGTOC[CXGTCIGUGXGTCNCPCN[UGUQHVJGECNKDTCVKQPUVTGCO

5'%6+10 
-81  /1&'.#)#5%*41/#61)4#2*

 $#5+%#0#.;5+5%1/276#6+105

6YQDCUKECPCN[UKUCNIQTKVJOUCTGKPENWFGFKPVJG)%%QPVTQNNGT6JGUGCTG

#TGC#PCN[UKU%CNEWNCVGUCTGCWPFGTEQORQPGPVRGCM

2GCM*GKIJV#PCN[UKU/GCUWTGUJGKIJVQHEQORQPGPVRGCM

%QPEGPVTCVKQP#PCN[UKUD[7UKPI4GURQPUG(CEVQT

%QPEGPVTCVKQPECNEWNCVKQPUTGSWKTGCWPKSWGTGURQPUGHCEVQTHQTGCEJEQORQPGPVKPCPCPCN[UKU
6JGUGTGURQPUGHCEVQTUOC[DGOCPWCNN[GPVGTGFD[CPQRGTCVQTQTFGVGTOKPGFCWVQOCVKECNN[D[
VJG U[UVGO VJTQWIJ ECNKDTCVKQP RTQEGFWTGU
YKVJ C ECNKDTCVKQP ICU OKZVWTG VJCV JCU MPQYP
EQPEGPVTCVKQPU

4GURQPUGHCEVQTECNEWNCVKQP
WUKPIVJGGZVGTPCNUVCPFCTF

$UHDQ +WQ
$5)Q
QT +5)Q

&DOQ &DOQ

9JGTG
#4( P
 #TGCTGURQPUGHCEVQTHQTEQORQPGPVéPêKPCTGCRGTOQNGRGTEGPV

*4( P
 *GKIJVTGURQPUGHCEVQTHQTEQORQPGPVéPê
#TGC P
 #TGCCUUQEKCVGFYKVJEQORQPGPVéPêKPECNKDTCVKQPICU
*VP
 *GKIJVCUUQEKCVGFYKVJEQORQPGPVéPêKPOQNGKPECNKDTCVKQPICU
%CN P
 #OQWPVQHEQORQPGPVéPêKPOQNGKPECNKDTCVKQPICU

%CNEWNCVGF TGURQPUG HCEVQTU CTG UVQTGF D[ VJG )% %QPVTQNNGT HQT WUG KP VJG EQPEGPVTCVKQP
ECNEWNCVKQPUCPFCTGRTKPVGFQWVKPVJGEQPHKIWTCVKQPCPFECNKDTCVKQPTGRQTVU

 &'5%4+26+10
/1&'.#)#5%*41/#61)4#2* -81 

#XGTCIGTGURQPUGHCEVQTKUECNEWNCVGFCUHQNNQYU
k

M RF i
i
1
RFAVG n

k
9JGTG
4(#8) P
 #TGCQTJGKIJVCXGTCIGTGURQPUGHCEVQTHQTEQORQPGPVéPê
4H K
 #TGCQTJGKIJVTGURQPUGHCEVQTHQTEQORQPGPVéPêHTQOVJG
ECNKDTCVKQPTWP
M  0WODGTQHECNKDTCVKQPTWPUCEVWCNN[WUGFVQECNEWNCVGVJGTGURQPUG
HCEVQTU

6JGRGTEGPVFGXKCVKQPQHPGY4(CXGTCIGUHTQOQNF4(CXGTCIGKUECNEWNCVGFKPVJGHQNNQYKPI
OCPPGT
RFnew RFold
% deviation
[ x 100]
RFold
9JGTGVJGCDUQNWVGXCNWGQHFGXKCVKQPHQTCNCTOJCUDGGPRTGXKQWUN[GPVGTGFD[VJG
QRGTCVQT

%QPEGPVTCVKQP%CNEWNCVKQPUKP/QNGYKVJQWV0QTOCNK\CVKQP

1PEGTGURQPUGHCEVQTUJCXGDGGPFGVGTOKPGFD[VJG)%%QPVTQNNGTQTGPVGTGFD[VJGQRGTCVQT
EQORQPGPVEQPEGPVTCVKQPUCTGFGVGTOKPGFHQTGCEJCPCN[UKUD[WUKPIVJGHQNNQYKPIGSWCVKQPU
Area n Ht n
CONC n
QT CONC n

ARF n HRF n

9JGTG
%10% P
 %QPEGPVTCVKQPQHEQORQPGPVéPêKPOQNG
#TGC P
 #TGCQHEQORQPGPVéPêKPWPMPQYPUCORNG
#4( P
 4GURQPUGHCEVQTQHEQORQPGPVéPêECNEWNCVGFHTQOCTGCQH
ECNKDTCVKQPUCORNG7PKVUCTGCTGCRGTOQNG
*V P
 2GCMJGKIJVQHEQORQPGPVéPêKPWPMPQYPUCORNG
*4( P
 4GURQPUGHCEVQTQHEQORQPGPVéPêECNEWNCVGFHTQORGCMJGKIJVQH
ECNKDTCVKQPUCORNG7PKVUCTGJGKIJVRGTOQNG

5'%6+10 
-81  /1&'.#)#5%*41/#61)4#2*

0QVGVJCVVJGCXGTCIGEQPEGPVTCVKQPQHGCEJEQORQPGPVYKNNCNUQDGECNEWNCVGFYJGPFCVC
CXGTCIKPIKUTGSWGUVGF

%QORQPGPVEQPEGPVTCVKQPUOC[DGKPRWVVJTQWIJCPCNQIKPRWVUQTOC[DGHKZGF+HC
HKZGFXCNWGKUWUGFVJGECNKDTCVKQPHQTVJCVEQORQPGPVKUVJGOQNGVJCVYKNNDGWUGFHQTCNN
CPCN[UGU

%QPEGPVTCVKQP%CNEWNCVKQPUYKVJ0QTOCNK\CVKQP

CONC n
CONCN n
x 100
k

M CONC i
i
1

9JGTG
%10%0 P
 0QTOCNK\GFEQPEGPVTCVKQPQHEQORQPGPVéPêKPRGTEGPVQHVQVCN
ICUEQPEGPVTCVKQP
%10% P
 0QPPQTOCNK\GFEQPEGPVTCVKQPQHEQORQPGPVéPêKPOQNG
%10% K
 0QPPQTOCNK\GFEQPEGPVTCVKQP
KPOQNGHTQOGCEJQHVJGéMê
EQORQPGPVUVQDGITQWRGFKPVQVJKUPQTOCNK\CVKQP
M  0WODGTQHEQORQPGPVUVQDGKPENWFGFKPVJGPQTOCNK\CVKQP

016' (QT CFFKVKQPCN KPHQTOCVKQP CDQWV QVJGT ECNEWNCVKQPU VJCV CTG

RGTHQTOGFD[VJG)%%QPVTQNNGTCPFUQHVYCTGUGGVJG&CPKGN/10
5QHVYCTGHQT)CU%JTQOCVQITCRJ7UGT/CPWCN
&CPKGN20


 &'5%4+26+10
/1&'.#)#5%*41/#61)4#2* -81 

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#WVQ<GTQ#WVQOCVKE\GTQKPIQHVJGRTGCORNKHKGT/C[DGGPVGTGFKPVQVJG%QPVTQNNGTVQVCMG
RNCEG CV CP[ VKOG FWTKPI VJG CPCN[UKU YJGP GKVJGT VJG EQORQPGPV KU PQV GNWVKPI QT VJG
DCUGNKPGKUUVGCF[

%JTQOCVQITCO#RGTOCPGPVTGEQTFQHVJGFGVGEVQTQWVRWV#EJTQOCVQITCRJKUQDVCKPGFHTQO
C 2% KPVGTHCEGF YKVJ VJG FGVGEVQT QWVRWV VJTQWIJ VJG )% %QPVTQNNGT  # V[RKECN
EJTQOCVQITCOFKURNC[UCNNEQORQPGPVRGCMUCPFICKPEJCPIGU+VOC[DGXKGYGFKPEQNQT
CUKVKURTQEGUUGFQPC2%8)#FKURNC[6KEMOCTMUTGEQTFGFQPVJGEJTQOCVQITCOD[
VJG)%%QPVTQNNGTKPFKECVGYJGTGVKOGFGXGPVUVCMGRNCEG

%QORQPGPV  #P[ QPG QH UGXGTCN FKHHGTGPV ICUGU VJCV OC[ CRRGCT KP C UCORNG OKZVWTG  (QT
GZCORNGPCVWTCNICUWUWCNN[EQPVCKPUVJGHQNNQYKPIEQORQPGPVUPKVTQIGPECTDQPFKQZKFG
OGVJCPG GVJCPG RTQRCPG KUQDWVCPG PQTOCN DWVCPG KUQRGPVCPG PQTOCN RGPVCPG CPF
JGZCPGURNWU

%QPFWNGV (KVVKPI TGUGODNKPI C RKRG QT C DQZ YKVJ C TGOQXCDNG EQXGT HQT CEEGUU VQ GNGEVTKE
EQPFWKVU6JGXCTKQWUGZRNQUKQPRTQQHEJCODGTUQHVJG)%U[UVGOGORNQ[TGOQXCDNG
VJTGCFGF%QPFWNGVEQXGTU

%65%NGCTVQUGPF
CUGTKCNRQTVRKPCUUKIPOGPV

&%&&CVCECTTKGTFGVGEVUGGCNUQ4.5&
CUGTKCNRQTVRKPCUUKIPOGPV

&54&CVCUGVTGCF[
CUGTKCNRQTVRKPCUUKIPOGPV

&64&CVCVGTOKPCNTGCF[
CUGTKCNRQTVRKPCUUKIPOGPV

5'%6+10 
-81  /1&'.#)#5%*41/#61)4#2*

4GURQPUG(CEVQT%QTTGEVKQPHCEVQTHQTGCEJEQORQPGPVCUFGVGTOKPGFD[VJGECNKDTCVKQP+VKU
FGHKPGFD[VJGGSWCVKQP
Area n Ht n
ARF n
QT HRF n

Cal n Cal n

9JGTG
#4( P
 #TGCTGURQPUGHCEVQTHQTEQORQPGPVéPêKPCTGCRGTOQNGRGTEGPV

*4( P
 *GKIJVTGURQPUGHCEVQTHQTEQORQPGPVéPê
#TGC P
 #TGCCUUQEKCVGFYKVJEQORQPGPVéPêKPECNKDTCVKQPICU
*VP
 *GKIJVCUUQEKCVGFYKVJEQORQPGPVéPêKPOQNGKPECNKDTCVKQPICU
%CN P
 #OQWPVQHEQORQPGPVéPêKPOQNGKPECNKDTCVKQPICU

4GVGPVKQP6KOG6JGVKOG
KPUGEQPFUVJCVGNCRUGUDGVYGGPUVCTVQHCPCN[UKU
UGEQPFUCPFVJG
UGPUKPIQHVJGOCZKOWOEQPEGPVTCVKQPQHGCEJEQORQPGPVD[VJG#PCN[\GTFGVGEVQT

4+4KPIKPFKECVQT
CUGTKCNRQTVRKPCUUKIPOGPV

4.5&4GEGKXGFNKPGUKIPCNFGVGEV
CFKIKVCNUKOWNCVKQPQHECTTKGTFGVGEVUGGCNUQ&%&
CUGTKCN
RQTVRKPCUUKIPOGPV

4654GSWGUVVQUGPF
CUGTKCNRQTVRKPCUUKIPOGPV

4Z&4&QT5+04GEGKXGFCVCQTUKIPCNKP
CUGTKCNRQTVRKPCUUKIPOGPV

6Z&6&QT51766TCPUOKVFCVCQTUKIPCNQWV
CUGTKCNRQTVRKPCUUKIPOGPV

 &'5%4+26+10
/1&'.#)#5%*41/#61)4#2* -81 

5'%6+10

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6JKUUGEVKQPRTQXKFGUFGUETKRVKQPUQHVJGXCTKQWUUWDU[UVGOUCPFEQORQPGPVUVJCVOCMGWRVJG
/QFGN#)CU%JTQOCVQITCRJ5[UVGO6JKUUGEVKQPKUQTICPK\GFCUHQNNQYU

5CORNKPI5[UVGO                                        5GGUGEVKQP
5CORNKPI2QKPV.QECVKQP                                      
5CORNG8QNWOGCPF(NQY4CVG                                  
5CORNG%QPFKVKQPKPI                                         
%QPVCOKPCVKQP2TGECWVKQPU                                     
8CNXKPI                                                 
%CNKDTCVKQP)CU                                            

#PCN[\GT                                            5GGUGEVKQP
2J[UKECN&GUETKRVKQP                                         
%JTQOCVQITCRJ8CNXGU                                       
2TKOCT[2NCVG                                        
#EVWCVKPI5WDCUUGODNKGU                                 
1RGTCVKQP                                           
&GVGEVQT5WDU[UVGO                                         
#PCN[\GT2TGCORNKHKGT7PKV                                     
#PCN[\GT5RGEKHKECVKQPU                                       
7VKNKV[)CU4GSWKTGOGPVU                                      

%QPVTQNNGT                                            5GGUGEVKQP
%QPVTQNNGT*CTFYCTG%QPHKIWTCVKQPU                               
#PCNQI+PRWVUCPF1WVRWVU                                
&KIKVCN+PRWVUCPF1WVRWVU                                
%QOOWPKECVKQPU                                       
&TKXGT1WVRWVU                                        
)GPGTCN%QPVTQNNGT5RGEKHKECVKQPU                            
'NGEVTKECN/GEJCPKECN5CHGV[CPF+PVGITKV[
%GTVKHKECVKQPUCPF%NCUUKHKECVKQPU                            
)%%QPVTQNNGT%KTEWKV$QCTF.KUV                            
1RVKQPCN-G[DQCTFCPF&KURNC[                                  
-G[DQCTF                                           
&KURNC[                                            

5'%6+10 
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#NCTO5RGEKHKECVKQPU                                         
5VCVWU+PFKECVQTU                                       

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#YGNNFGUKIPGFRTQRGTN[CFLWUVGFUCORNKPIU[UVGOKUGUUGPVKCNVQQRVKOWORGTHQTOCPEGQHCP[
ICUEJTQOCVQITCRJ+HCIQQFUCORNGKUPQVQDVCKPGFHQTCPCN[UKUVJGYJQNGRWTRQUGQHVJGU[UVGO
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2TGECWVKQPUCPF9CTPKPIU                                  5GGUGEVKQP
*C\CTFQWU'PXKTQPOGPVU                                      
2QYGT5QWTEG9KTKPI                                        
5KIPCN9KTKPI                                             
'NGEVTKECNCPF5KIPCN)TQWPF                                    
'NGEVTKECN%QPFWKV                                           
5CORNG5[UVGOU4GSWKTGOGPVU                                   

2TGRCTCVKQP                                            5GGUGEVKQP
+PVTQFWEVKQP                                              
5KVG5GNGEVKQP                                              
7PRCEMKPIVJG7PKV                                          
0GEGUUCT[6QQNUCPF%QORQPGPVU                                
1RVKQPCN6QQNUCPF%QORQPGPVU                                 

+PUVCNNKPIVJG#PCN[\GT                                    5GGUGEVKQP
2QKPVVQ2QKPV9KTKPI)WKFG#PCN[\GT%QPVTQNNGT                      
#PCN[\GT#%2QYGT9KTKPI                                    
5CORNGCPF)CU.KPGU                                        

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/QFDWU5NCXG#FFTGUU
%QOO+&5GVWR                           
%QPVTQNNGT#PCN[\GT9KTKPI                                    
%QPVTQNNGT2%9KTKPI
5GTKCN%QPPGEVKQPU                          
$GHQTG%QPPGEVKPI                                     
2%VQ)%(TQPV2CPGN3WKEMCPF'CU[45                  
2%VQ)%2GTOCPGPV%CDNG%QPPGEVKQPHQT5JQTV&KUVCPEG45     
2%VQ)%.QPI&KUVCPEGYKVJ45QT45                 
%27CPF%1/#5GTKCN%QOOWPKECVKQPU5GVWRU                      
%27454545%QPHKIWTCVKQP                    
%2745%QPHKIWTCVKQP                               
%2745%QPHKIWTCVKQP                               
%2745%QPHKIWTCVKQP                               
%27%1/%1/-G[DQCTFCPF2TKPVGT1WVRWV*GCFGT           
%27%1/%1/1WVRWV*GCFGT                          
%1/#454545%QPHKIWTCVKQP                  
%1/#45%QPHKIWTCVKQP                             
%1/#45%QPHKIWTCVKQP                             
%1/#45%QPHKIWTCVKQP                            
2CTCNNGN2TKPVGT+PVGTHCEG                                
2%$WU+PVGTHCEG                                  
5KNKEQP&KUM%QPHKIWTCVKQP                               
/WNVK+1%QPPGEVQT                                   
2CTCNNGN+1%QPHKIWTCVKQP                                
%QPVTQNNGT2TKPVGT9KTKPI                                      
&KUETGVG
&KIKVCN+19KTKPI                                   
#PCNQI+19KTKPI                                          
%QPVTQNNGT#%2QYGT9KTKPI                                   

#PCN[\GT.GCM%JGEMUCPF2WTIKPIHQT(KTUV%CNKDTCVKQP             5GGUGEVKQP
#PCN[\GT.GCM%JGEMU                                        
2WTIKPI%CTTKGT)CU.KPGU                                     
2WTIKPI%CNKDTCVKQP)CU.KPGU                                   

5[UVGO5VCTVWR                                         5GGUGEVKQP

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'FKVKPI2TQEGFWTGU                                          
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%QPHKI4RV/CKPV.QI/GPW                                  

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GXGPVU CPCN[UKU CPF E[ENG VKOGU HQT UCORNG
UVTGCOUFGUKIPCVGU[UVGOPCOGUCPFFGHKPGVJG ECNEWNCVKQPUFGUKTGF0COGUQTNCDGNUECPDG
URGEKHKGFHQTFCVCVJCVOC[DGFGUKTGFHQTVJGXCTKQWUTGRQTVU6JGUGUWDOGPWUCNNQYVJGQRGTCVQT
VQTGHKPGCPFEWUVQOK\GVJGCRRNKECVKQPUHQTVJGFGUKTGFWUCIG

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VJG 12'4#614 +02765 OGPW  'PVGTKPI
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5612 019 QTFGTU VJG #PCN[\GT VQ UVQR
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YJGP C RTQDNGO QEEWTU KP QPG QT OQTG QH VJG
UVTGCOU  # XKGY QH VJG 4CY &CVC QT #PCN[UKU
4GRQTVU ECP JGNR KP KUQNCVKPI QT KPFKECVKPI CTGCU
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JKUVQTKECNOCKPVGPCPEGCEVKQPUCFFCP[RGTVKPGPV
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GPVTKGUCUPGEGUUCT[6JG%QPHKI4GRQTVTGSWGUVU
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YKNNDGRTKPVGFQPVJG%QPVTQNNGTçURTKPVGT

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6TQWDNGUJQQVKPICPF4GRCKT%QPEGRV                           5GGUGEVKQP

4QWVKPG/CKPVGPCPEG                                     5GGUGEVKQP
)%5[UVGO/CKPVGPCPEG%JGEMNKUV                                
4QWVKPG/CKPVGPCPEG2TQEGFWTGU                                 
%QPVTCEV5GTXKEG                                           

.QECVKPICPF)CKPKPI#EEGUUVQ'SWKROGPV'NGOGPVU                5GGUGEVKQP
#PCN[\GT'NGEVTKECN'NGEVTQPKE7PKVU                              
&GVGEVQT'NGOGPVU*GCVGT'NGOGPVU8CNXGUCPF%QNWOPU                

2TGECWVKQPUHQT*CPFNKPI2TKPVGF%KTEWKV#UUGODNKGU                5GGUGEVKQP

5GTXKEG6TQWDNGUJQQVKPICPF4GRCKT+PUVTWEVKQPU                  5GGUGEVKQP
2TGCORNKHKGT                                              
6GORGTCVWTG%QPVTQN                                         
&GEQFGT                                                 
(WUG4GRNCEGOGPV                                      
+PUVTWEVKQPUHQT4GOQXKPIVJG&GEQFGT$QCTF                    
+PUVTWEVKQPUHQT4GKPUVCNNKPIVJG&GEQFGT$QCTF                   
#PCN[\GT6TQWDNGUJQQVKPI)WKFG                                 
(NQY$CNCPEG%JGEM                                    
6GORGTCVWTG                                         
$CUGNKPG&TKHV                                        
.GCM%JGEMKPIVJG#PCN[\GT                               
2NWIIGF.KPGU%QNWOPUQT8CNXGU                          
%JTQOCVQITCRJ8CNXGU                                       
8CNXG%NGCPKPI                                       
8CNXG1XGTJCWN                                       
8CNXG1XGTJCWN+PUVTWEVKQPU                               
&GVGEVQT$TKFIG$CNCPEG                                      

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6GORGTCVWTG/GCUWTGOGPVU                                    
/GCUWTG8GPV(NQY
/8                                     
#PCNQI+PRWVU                                             

/QFGN#)%%QPVTQNNGT/CKPVGPCPEG                       5GGUGEVKQP
)%%QPVTQNNGT#EEGUU                                        

%QOOWPKECVKQPU                                         5GGUGEVKQP
)%%QPVTQNNGT#FFTGUU%JCPIG                                  

#PCNQI+PRWVUCPF1WVRWVU                                 5GGUGEVKQP
#PCNQI1WVRWV&KCNQI&GUETKRVKQP                                
%JCPIKPIC8CTKCDNG                                         
%JCPIKPIVJG$CTITCRJ                                       
2GTHQTOKPIC#/CPWCN%CNKDTCVKQP                            
2GTHQTOKPIC##WVQOCVGF%CNKDTCVKQP                          
#PCNQI.QQRDCEM6GUV%KTEWKVU                                  
7RITCFKPI#PCNQI1WVRWVU                                     

&KUETGVG&KIKVCN+PRWVUCPF1WVRWVU                            5GGUGEVKQP
&KIKVCN.QQRDCEM6GUV%KTEWKV                                   

(WUG2TQVGEVKQP                                         5GGUGEVKQP

#PCN[\GT%QPVTQNNGT+PVGTEQPPGEV                             5GGUGEVKQP
(WPEVKQP%QFGU                                           

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RQUUKDNG5QWTEGUQHVTQWDNGUWEJCURTKPVGFEKTEWKVCUUGODNKGUXCNXGUGVECTGKFGPVKHKGFFWTKPI
VTQWDNGUJQQVKPIVGUVRTQEGFWTGUCPFCTGTGRNCEGFCVVJGNQYGUVNGXGNRTCEVKECNYKVJWPKVUKPMPQYP
YQTMKPIQTFGT6JGFGHGEVKXGGNGOGPVUCTGVJGPGKVJGTTGRCKTGFKPVJGHKGNFD[TGHGTGPEGVQVJG
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5GGPGZVRCIG6JKUIKXGU[QWCJKUVQTKECNTGEQTFQHVJGQRGTCVKQPQH[QWT#PCN[\GTGPCDNGUC
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SWKEMVTQWDNGUJQQVKPICPFTGRCKTYJGPKVDGEQOGUPGEGUUCT[#EJTQOCVQITCOCEQPHKIWTCVKQP
TGRQTV CPF C TCY FCVC TGRQTV UJQWNF CNUQ DG OCFG CPF HKNGF YKVJ VJG EJGEMNKUV HWTPKUJKPI C
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&CPKGN %WUVQOGT 5GTXKEG YKVJ C RTQDNGO  #NUQ JCXG VJG 5CNGU 1TFGT PWODGT YJGP ECNNKPI
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#PCN[\GTNGHVVJGHCEVQT[CTGHKNGFD[VJKUPWODGT
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.KUV

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&GRCTVOGPVCVVJGCFFTGUUQTVGNGRJQPGPWODGTQPVJG%WUVQOGT2TQDNGO4GRQTVCVVJGDCEMQH
VJKU OCPWCN 6JGTG CTG CNUQ EQPVCEV PWODGTU CPF KPHQTOCVKQP CXCKNCDNG XKC
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NQECVGFKPVJGWRRGTCPFNQYGTGZRNQUKQPRTQQHJQWUKPIUQHVJG#PCN[\GTCPFCTGHWNN[CEEGUUKDNG
HTQO VJG HTQPV QH VJG WPKV  2TKPVGF EKTEWKV CUUGODNKGU CTG EQPVCKPGF KPUKFG CP GZRNQUKQPRTQQH
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9#40+0) 6JGGZRNQUKQPRTQQHJQWUKPIUJQWNFPQVDGQRGPGF
YJGPVJGWPKVKUGZRQUGFVQCPGZRNQUKXGGPXKTQPOGPV+HCEEGUUVQ
VJGGZRNQUKQPRTQQHJQWUKPIKUTGSWKTGFRTGECWVKQPUOWUVDGVCMGP
VQGPUWTGVJCVCPGZRNQUKXGGPXKTQPOGPVKUPQVRTGUGPV

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#PCN[\GT4GOQXGVJGDNCEMKPUWNCVGFEQXGTJGNFD[VYQP[NQPUVTCRUVQICKPCEEGUUVQVJGUG
EQORQPGPVU

 6JGFGVGEVQTGNGOGPVUCTGNQECVGFKPVJGWRRGTGZRNQUKQPRTQQHJQWUKPIKPHTQPVQH
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EQXGTRNCVG

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2TKPVGF EKTEWKV CUUGODNKGU EQPVCKP %/15 KPVGITCVGF EKTEWKVU YJKEJ ECP DG FCOCIGF KH VJG
CUUGODNKGUCTGPQVRTQRGTN[JCPFNGF6JGHQNNQYKPIRTGECWVKQPUOWUVDGQDUGTXGFYJGPYQTMKPI
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 4(&GXKCVKQP %CNKDTCVKQPICUNQYQTQWVXCNXGVKOKPIGTTQT
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 8CNXG6KOKPI(CKNWTG 5COGCUPWODGT

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6JGRTGCORNKHKGTJCUPQRCTVUVJCVOC[DGUGTXKEGFKPVJGHKGNF+HVJGWPKVHCKNUTGVWTPKVVQ&CPKGN
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