˜sÂɔ^

^ɔɴɔʰȲȬ
&203$1< 352),/( _ ,1',$
ȥʁʹʰ ˜sÂɔ^
-9 2ULJLQV 5HJLRQDO 'LYHUVLW\ ([SDQVLYH 3RUWIROLR

62:L/ /LPLWHG IRUPHUO\ 7KH FRPSDQ\ŮV +HDG 2IILFH 7KH &RPSDQ\ KDV ZRUNHG LQ
NQRZQ DV 6LU 2ZHQ :LOOLDPV 'HVLJQ RIILFH DQG :HVW YDULRXV FDSDFLWLHV RQ RYHU
LQQRYHVWPHQW /LPLWHG ZDV 5HJLRQ RIILFH DUH ORFDWHG DW  ODQH NP KLJKZD\V
LQFRUSRUDWHG LQ ,QGLD DV D 1HUXO 1DYL 0XPEDL LWV URDGV  URXWH NP UDLOZD\
1RUWKHUQ 5HJLRQ RIILFH LV OLQH  PDMRU EULGJHV 
-RLQW 9HQWXUH FRPSDQ\ ZLWK
ORFDWHG LQ 12,'$ DQG (DVWHUQ URXWH NP 0576 OLQH 
6LU 2ZHQ :LOOLDPV
UHJLRQ RIILFH LQ .RONDWD 7KH ODQHURXWH NP WXQQHO DQG 
,QWHUQDWLRQDO 8. LQ FRPSDQ\ KDV SURMHFW RIILFHV EXLOGLQJV
6HSWHPEHU  ZLWK LWV LQ YDULRXV SDUWV RI ,QGLD
FRUSRUDWH RIILFH LQ 0XPEDL
,Q  LW EHFDPH D ZKROO\
,QGLDQ FRPSDQ\
¢ɏɔʦ ɔʦ ʁʹʟ gJ˜˜Jsj
¢ɏɔʦ ɔʦ
ʁʹʟ ÁJ˜Jsjे
ʁȉʟȬ ʁɅ $ɔʟȲȦʰʁʟʦ
Èʁʹ ȉʟȲ ˘ʁʹʟ Ȧʁɴʜȉɷ˘ोʦ ʦʹȦȦȲʦʦे

&+$,50$1
0U 0D\DQN .XPPDU

0U 0 5DYLQGUD UHWLUHG &KDLUPDQ 5DLOZD\ %RDUG

0U 0. *XSWD IRUPHU 0HPEHU 3(6% UHWG 0HPEHU (QJLQHHULQJ 5DLOZD\ %RDUG

0V ,VKLUD .XPDU

 ZȲ˘ gȉɷʜʁ˒Ȳʟ
3URMHFW 0DQDJHPHQW &RQVXOWDQW 7HDP /HDGHU 6HQLRU  (OHFWULFDO2+( (QJLQHHUV 
+LJKZD\ (QJLQHHU 6HQLRU 5HVLGHQW (QJLQHHU
3HUPDQHQW :D\ (QJLQHHUV 
+LJKZD\ (QJLQHHU5HVLGHQW (QJLQHHUV 
)RXQGDWLRQ (QJLQHHUV 
%ULGJH 6WUXFWXUDO (QJLQHHUV 
&$'' 6SHFLDOLVWV 
3DYHPHQW0DWHULDOV (QJLQHHUV 
7UDIILF (QJLQHHUV 
4XDOLW\ &RQWURO (QJLQHHU 
(QYLURQPHQWDO  5HVHWWOHPHQW (QJLQHHUV 
*HRWHFK (QJLQHHUV 
7UDQVSRUW (FRQRPLVW 
&RQWUDFW (QJLQHHUV 
7UDQVSRUW 3ODQQHUV 
6XUYH\ (QJLQHHUV 
,7 6RIWZDUH GHYHORSHUV 
6LJQDOLQJ  (OHFWURQLF  &RPPXQLFDWLRQ (QJLQHHUV 
<ɔɷȉɷȦɔȉɫʦ
785129(5 56 ,1 /$.+6
  PRQWKV 
   
   
 
 
 

(%,'7$ %()25( 63(&,$/ 3529,6,216

 
 
 
 
 
 
Âʁʟɦ
ɔɷ
EȉɷȬ

62:L/52$'6
'HVLJQbbbbbbbbbbbbbbb 5V/DNKV
3URRI&KHFNLQJbbbbbbbbbbbbbbbbbb 5V/DNKV
6XSHUYLVLRQbbbbbbbbbbbbbbbbbbbbbbbbb 5V/DNKV

62:L/75$165$,/
'HVLJQ 5V/DNKV
0HWUR 5V/DNKV

62:L/,1)5$ 5V/DNKV
62:L/7UDFFDVVXUHb 5V/DNKV
&L006 5V/DNKV
b

   
ʁɷʦʹɫʰȉɷȦ˘ ˜ȲʟˑɔȦȲʦ
+LJKZD\V DQG ([SUHVVZD\V DQG 2WKHU 5RDGV
LQFOXGLQJ 5XUDO 5RDGV
5DLOZD\V
0DMRU %ULGJHV IRU +LJKZD\V DQG 5DLOZD\V 52%V
)O\RYHUV DQG *UDGH 6HSDUDWHG ,QWHUFKDQJHV DQG
RWKHU VWUXFWXUHV 7XQQHOOLQJ
8UEDQ ,QIUDVWUXFWXUH
0DVV 5DSLG 7UDQVLW 6\VWHP 0576
%XLOGLQJV $VVHW 0DQDJHPHQW
2SHUDWLRQV 0DLQWHQDQFH 0DQDJHPHQW
,QVWLWXWLRQDO 'HYHORSPHQW
(QYLURQPHQW DQG 6RFLDO ,PSDFW $VVHVVPHQW
333
/HQGHUŮV (QJLQHHU
9DOXH (QJLQHHULQJ
jȉʰʹʟȲ ʁɅ ˜ȲʟˑɔȦȲʦ
3URMHFW ,GHQWLILFDWLRQ 3UHSDUDWLRQ RI %LG 'RFXPHQWV 
3UHIHDVLELOLW\ DQG )HDVLELOLW\ 6WXGLHV &RQFHVVLRQ $JUHHPHQW
3URMHFW $SSUDLVDO 'HWDLOHG 'HVLJQ '35
3URMHFW 3ODQQLQJ DQG 3UHSDUDWLRQ &RQVWUXFWLRQ 6XSHUYLVLRQ 3URMHFW
7UDIILF 6XUYH\V DQG 7UDQVSRUWDWLRQ 0DQDJHPHQW
3ODQQLQJ $VVHW 0DQDJHPHQW
(QJLQHHULQJ 6XUYH\V DQG ,QYHVWLJDWLRQV ,QGHSHQGHQW (QJLQHHU
%ULGJH &RQGLWLRQ 5DWLQJ 5HKDELOLWDWLRQ 4XDOLW\ &RQWURO DQG 4XDOLW\ $VVXUDQFH
DQG 8SJUDGDWLRQ 6DIHW\ $XGLW
7RSRJUDSKLFDO 6XUYH\ 7UDLQLQJ DQG 7HFKQRORJ\ 7UDQVIHU
*HRWHFKQLFDO DQG 0DWHULDO (QJLQHHULQJ ,QYHQWRULVDWLRQ
(QYLURQPHQWDO DQG 6RFLDO ,PSDFW 'HVLJQ 5HYLHZV DQG 9DOXH (QJLQHHULQJ
$VVHVVPHQW 7HFKQLFDO $XGLW
(FRQRPLF $QDO\VLV %27  3ULYDWH 6HFWRU
)LQDQFLDO $QDO\VLV 3DUWLFLSDWLRQ 7ROO
,QVWLWXWLRQDO 'HYHORSPHQW 3OD]DV DQG 7ROOLQJ 6\VWHPV
jȲ˒ ʟȲȉʦ ʁɅ
<s©˜
7UDIILF 7UDQVSRUWDWLRQ /HQGHUŮV (QJLQHHU 6HUYLFHV &RQGLWLRQ $XGLW RI 3DYHPHQWV
VWXGLHV XVLQJ $7&& HTXLSPHQW DQG %ULGJHV+HDOWK PRQLWRULQJ

3DYHPHQW DQG %ULGJH 6DIHW\ $XGLW IRU 5RDGV DQG ,7 EDVHG 'DWD ,QIRUPDWLRQ 6\VWHPV
0HWURV

+\GURSRZHU Ū 6RODU 3RZHU 4XDQWLW\ 6XUYH\ IRU EXLOGLQJV 3XEOLF +HDOWK (QJLQHHULQJ
ZDWHU VXSSO\ GUDLQDJH VHZDJH
˜ʁɅʰ˒ȉʟȲ
62:,/ 35235,(7$5< 62)7:$5(
75$&&$VVXUH
&L006
$3SDYH
7,6

27+(5 62)7:$5(
0; 52$'5$,/ 
3/(; ($57+
3/$;,6 ' 7811(/
67$$' 352 
$872&$' ,1)5$68,7( 03 ' &,9,/ ' /7 
=: &$' 
&6, %5,'*(
*ʞʹɔʜɴȲɷʰ
/$37236 &20387(56 
3/277(56 
+($9< '87< 35,17(56 
$7&& 7,57/ 
&L006 169 
.8$% ):'
/(,&$ 727$/ 67$7,216 
$;/( /2$' 3$'6 
5(7525()/(&720(7(5
$135 &$0(5$6 
,5 &$0(5$6 
jȉʰɔʁɷ
ÂɔȬȲ
ŽʟȲʦȲɷȦȲ
352-(&76
81'(57$.(1
%< 86 $&5266
9$5,286 3$576
2) ,1',$
˜sÂɔ^ ‘ʁȉȬʦ
080%$, 381( (;35(66:$< 6(& '
287(5 5,1* 52$' &+(11$,
3$71$ Ū 08=$))$5385
-$/$1'+$5 Ū 3$7+$1.27
/$/,73856$*$5 $'% )81'('
,05$+,  -+$1-+$5385
.(5$/$ %25'(5 Ū 7+5,6685
1$*385 080%$, (;35(66:$< 3.* 
.21.$1 (;35(66:$< .0  065'&
.21.$1 &2$67$/ 52$'  .0  065'&
˜sÂɔ^ ‘ʁȉȬʦ
080%$,381( (;35(66:$<
.5,6+1$*,5, Ū 5$1,3(7
%(/*$80 Ū 0$+$5$6+75$ %25'(5
6$7$5$ Ū .2/+$385
1$*385  $',/$%$'
62/$385 Ū <('6+, )25 &21&(66,21$,5(
*5((1),(/' $/,*10(17  -,1'  *2+$1$ 3.*
*2+$1$  621(3$7 3.*
.+21*6$1* 72 7$0(1*/21* 0$1,385
/$1( 7811(/ $7 .+$0%$7., *+$7 21 1+
%$1,+$/ %<3$66 -$008 .$6+0,5
˜sÂɔ^ ‘ʁȉȬʦ
080%$,  381( (;35(66:$<
%$5:$ $''$ 3$1$*$5+
%(/*$80 Ū 0$+$5$6+75$ %25'(5
6$7$5$ Ū .2/+$385
$*5$  *:$/,25
9,-$<:$'$ Ū *8178*2/$  '(:$1&+(5898
1(//25(  &+,/.$/85,3(7
9(//25( Ū 9$1,<(03$', Ū :$/$-$+3(7  &+(11$,
 ˜sÂɔ^ ‘ʁȉȬʦ
9DOXH HQJLQHHULQJ VHUYLFHV IRU SDYHPHQW GHVLJQ
3DQYHO ,QGDSXU 1+ > NPV@ &OLHQW 6XSUHPH ,QIUDVWUXFWXUH /WG

9DOXH HQJLQHHULQJ VHUYLFHV IRU SDYHPHQW GHVLJQ

$KPHGDEDG 9DGRGUD 1+ > NPV@ &OLHQW 0RGHO 5RDGEXLOGHUV 3YW /WG ,5% JURXS FRV

9DOXH HQJLQHHULQJ VHUYLFHV IRU SDYHPHQW GHVLJQ

-DLSXU 5LQJ 5RDG > NPV@ &OLHQW 6DQMRVH 6XSUHPH 7ROOZD\V 3YW /WG

3URRI FKHFNLQJ RI DLUILHOG DQG ODQGVLGH SDYHPHQW GHVLJQ

.DQQXU ,QWHUQDWLRQDO $LUSRUW _ &OLHQW / 7

3URRI FKHFNLQJ RI SDYHPHQW GHVLJQ

$JUD /XFNQRZ ([SUHVVZD\ > NPV@ &OLHQW / 7

3URRI FKHFNLQJ RI SDYHPHQW GHVLJQ

5RXUNHOD 6DPEKDOSXU 6+  > NPV@ &OLHQW / 7

9DOXH (QJLQHHULQJ VHUYLFHV IRU SDYHPHQW GHVLJQ

7XPNXU +DYHUL > NPV@ &OLHQW $VKRND %XLOGFRQ
˜sÂɔ^ ‘ʁȉȬʦ
080%$,  381( (;35(66:$<
$+0('$%$' 9$'2'5$ 1+
3$19(/ ,1'$385 1+
-$,385 5,1* 52$'
˜sÂɔ^ ‘ʁȉȬʦ
065'& 080%$, 381( (;35(66:$<
065'& 6$7$5$ .2/+$385 1+ 
/ 7 $1'+5$ $3 
&71/ 5$-.27 :(67(51 72//:$<
1,/ .$50$/$ %<(3$66 0$1*, %5,'*(
5(/,$1&( ,1)5$ 381( 6$7$5$
9$/(&+$ /(%$' 0$1385
,5% $+0('$%$' 9$'2'5$
6835(0( ,1)5$ 3$19(/ ,1'$385
6835(0( ,1)5$ $,385 5,1* 52$'
˜sÂɔ^ ‘ʁȉȬʦ
1$7,21$/ /(9(/
0LQLVWU\ RI 5RDG 7UDQVSRUW +LJKZD\V 0R57 +
1DWLRQDO +LJKZD\V $XWKRULW\ RI ,QGLD 1+$,

67$7( /(9(/
*RYW RI 8WWDU 3UDGHVK
83 6WDWH %ULGJH &RQVWUXFWLRQ &RUSRUDWLRQ 836%&
12,'$ $XWKRULW\
3:' *RYW RI 1&7 RI 'HOKL
0DGK\D 3UDGHVK 5XUDO 5RDG 'HYHORSPHQW $XWKRULW\ 0355'$
0DGK\D 3UDGHVK 5RDG 'HYHORSPHQW &RUSRUDWLRQ /LPLWHG 035'&
3XEOLF :RUNV 'HSDUWPHQW *RYW RI &KKDWWLVJDUK
.DUQDWDND 6WDWH 5RDG 'HYHORSPHQW &RUSRUDWLRQ .5'&/
7DPLO 1DGX 5RDG 'HYHORSPHQW &RPSDQ\ 715'&
3XEOLF :RUNV 'HSDUWPHQW *RYW RI 7DPLO 1DGX
3:' 5 %  *RYHUQPHQW RI .HUDOD
0DKDUDVKWUD 6WDWH 5RDG 'HYHORSPHQW &RUSRUDWLRQ 065'&
3XEOLF :RUNV 'HSDUWPHQW *RYW RI 0DKDUDVKWUD
3XQMDE ,QIUDVWUXFWXUH 'HYHORSPHQW %RDUG 3,'%
*RYW RI 5DMDVWKDQ
5DMDVWKDQ 6WDWH 5RDG 'HYHORSPHQW DQG &RQVWUXFWLRQ &RUSRUDWLRQ /WG 565'&&
8UEDQ 'HYHORSPHQW 'HSDUWPHQW *RYW RI 5DMDVWKDQ
*XMDUDW 6WDWH 5RDG 'HYHORSPHQW &RUSRUDWLRQ *65'&
*XMDUDW ,QIUDVWUXFWXUH 'HYHORSPHQW %RDUG *,'%
˜sÂɔ^ ¢ʟȉɷʦʟȉɔɫ
3URMHFW 0DQDJHPHQW &RQVXOWDQF\ IRU 6XSSO\ ,QVWDOODWLRQ RI 7UDFN 6LJQDOLQJ RQ
.HRQMKDU Ū 7RPND 6HFWLRQ OHQJWK  NP RI WKH %DQVSDQL Ū 'DLIDUL 1HZ 5DLOZD\ /LQH
&OLHQW 5DLOZD\ 9LNDV 1LJDP /LPLWHG 591/

3URMHFW 0DQDJHPHQW &RQVXOWDQF\ IRU &RQVWUXFWLRQ RI

QG 6WHHO %ULGJH DFURVV 5LYHU 0DKDQDGL  [  P RQ &XWWDFN Ū 1HUJXQGL
6HFWLRQ RI WKH (DVW &RDVW 5DLOZD\V 0DLQ /LQH ZLWK P DSSURDFKHV RQ HLWKHU VLGH
&OLHQW 5DLOZD\ 9LNDV 1LJDP /LPLWHG 591/

3URMHFW 0DQDJHPHQW &RQVXOWDQF\ IRU

,QWURGXFWLRQ RI (08 6HUYLFHV EHWZHHQ 9LUDU 'DKDQX 5RDG RQ :HVWHUQ 5DLOZD\
&OLHQW 0XPEDL 5DLOZD\ 9LNDV &RUSRUDWLRQ

3URMHFW 0DQDJHPHQW &RQVXOWDQF\ IRU

*DXJH &RQYHUVLRQ 6LJQDOOLQJ (OHFWULILFDWLRQ $MPHU 3KXOHUD
&OLHQW 5DLOZD\ 9LNDV 1LJDP /LPLWHG 591/
˜sÂɔ^ ¢ʟȉɷʦʟȉɔɫ
'HVLJQ IRU ,QWURGXFWLRQ RI (08 6HUYLFHV EHWZHHQ 9LUDU 'DKDQX 5RDG RQ :HVWHUQ
5DLOZD\ LQFOXGLQJ FLYLO SZD\ VLJQDOLQJ DQG 2+(
&OLHQW 0XPEDL 5DLOZD\ 9LNDV &RUSRUDWLRQ

'HVLJQ DQG &RQVWUXFWLRQ 0HWKRGRORJ\ IRU QRPLQDWHG 7XQQHOV LQ FRQQHFWLRQ ZLWK

7XQQHOLQJ :RUNV EHWZHHQ /XPGLQJ %DGDUSXU DQG .XPDUJKDW$JDUWDOD VHFWLRQV
&OLHQW 1RUWK (DVW )URQWLHU 5DLOZD\V
˜sÂɔ^ ¢ʟȉɷʦʟȉɔɫ
3HUPDQHQW :D\ 'HVLJQ IRU 8SJUDGDWLRQ RI %ULWLVK 5DLOZD\ 7UDFN EHWZHHQ
/RQGRQ *ODVJRZ XQGHU :HVW &RDVW 5RXWH 0RGHUQL]DWLRQ 3URMHFW RI 5DLOWUDFN 3/& 8.
7R LQFUHDVH VSHHG SRWHQWLDO RI WUDFN IURP  WR  NPSK
&OLHQW  -DUYLV )DFLOLWLHV 5DLOWUDFN 8.

6LJQDOOLQJ 'HVLJQ IRU %ULWLVK 5DLO LQ FRQQHFWLRQ ZLWK :HVW &RDVW 5RXWH 0RGHUQLVDWLRQ 3URMHFW
&OLHQW  -DUYLV )DFLOLWLHV 5DLOWUDFN 8.

&RQGLWLRQ $VVHVVPHQW RI 7UDFNV NP 16 )UHLJKW /LQH

&OLHQW  6$5 /HDG 3DUWQHU 789 5KHLQODQG
˜sÂɔ^ ¢ʟȉɷʦʟȉɔɫ
5DLO 9LNDV 1LJDP /WG
0XPEDL 5DLO 9LNDV &RUSRUDWLRQ
1RUWKHUQ 5DLOZD\V
&HQWUDO 5DLOZD\
:HVWHUQ 5DLOZD\V
1RUWKHDVW )URQWLHU 5DLOZD\V
1RUWK :HVWHUQ 5DLOZD\V
(DVW &RDVW 5DLOZD\V
6RXWKHUQ 5DLOZD\V
.RQNDQ 5DLOZD\ &RUSRUDWLRQ /WG
%ULWLVK 5DLO 8.
,5&21 ,QWHUQDWLRQDO /LPLWHG
0HWURSROLWDQ 7UDQVSRUW
&RUSRUDWLRQ /WG &KHQQDL
5,7(6 /LPWHG
9DOXH (QJLQHHULQJ :RUOL +DML$OL 6HDOLQN ˜sÂɔ^
JɷɅʟȉ
&OLHQW  5HOLDQFH ,QIUD

'HVLJQ RI %HDV &KDNNL %ULGJHV

&OLHQW 1+$,

'HVLJQ RI /XQD 0DKDQDGL %ULGJHV

&OLHQW 591/

'HVLJQ DQG 6XSHUYLVLRQ RI  6WHHO %RZ 6WULQJ *LUGHU 52%ŮV LQ %LKDU

&OLHQW ,5&21

'HVLJQ RI  52%V RQ &HQWUDO :HVWHUQ 5DLOZD\

&OLHQW ')&&

'HVLJQ RI 5DSWL %ULGJH

&OLHQW 0257+

'HVLJQ RI  NP YLDGXFW DQG EULGJHV  10 ([SUHVVZD\

&OLHQW 06'5&

'HVLJQ RI  ORQJ VSDQ P EULGJHV

&OLHQW 005'$

'HVLJQ RI  GRXEOH GHFNHU 0HWUR  5RDG )O\RYHUV

RQH 5RDG )O\HU  7KLUXYDQDQWKDSXUDP
&OLHQW .57&/

'HVLJQ RI  UDLOZD\ EULGJHV RQ $KPHGQDJDU  %HHG 1HZ %URDG *DXJH /LQH

&OLHQW &HQWUDO 5DLOZD\V
%DQGUD  :RUOL 6HDOLQN ˜sÂɔ^
JɷɅʟȉ
&OLHQW  065'&  /HDG 3DUWQHU &RQVWUXPD

0DKDQDGL %ULGJH
&OLHQW ,5&21

 0DMRU 0LQRU %ULGJHV RQ &XWWDFN %DUDQJ OLQH RI (&5

&OLHQW ,5&21

 )O\RYHUV DQG  6N\ZDONV

&OLHQW 065'&

9LDGXFWV DQG 6WDWLRQ EXLOGLQJV +\GHUDEDG 0HWUR

&OLHQW / 7  /HDG 3DUWQHU $(&20 Ū )HHGEDFN

.DQQXU ,QWHUQDWLRQDO $LUSRUW Ū FLYLO VWUXFWXUHV SDYHPHQW 0(3

&OLHQW / 7

'HVLJQ 5HYLHZ RI 5L\DGK 0RQRUDLO

&OLHQW 6$5  /HDG 3DUWQHU 789 5KHLQODQ

 %ULGJHV  6ORSH 3URWHFWLRQ ZRUNV LQ 8WWDUDNKDQG D :RUOG %DQN )XQGHG 3URMHFW

&OLHQW 3,8 8'53$)
 ˜sÂɔ^
JɷɅʟȉ
:RUOL %DQGUD 6HD /LQN
&OLHQW  5623/

-XOXQGDU  3DWKDQNRW 1+ LQFOXGLQJ %HDV &KDNNL %ULGJHV

&OLHQW 1+$,

.KDUSDGD %ULGJH
&OLHQW 6XSUHPH 0DKDYLU 639

$VVHVVPHQW DQG VXSHUYLVLRQ RI UHKDELOLWDWLRQ RI EHDULQJV DQG JLUGHUV RI

$LUSRUW ([SUHVV OLQH
&OLHQW '05&

$VVHVVPHQW RI YLDGXFWV 0XPEDL 0HWUR /LQH 2QH

&OLHQW 0023/

$VVHVVPHQW RI  PDMRU EULGJHV RQ 1+ DFURVV ,QGLD -,&$ VWXG\

&OLHQW 2ULHQWDO &RQVXOWDQWV -DSDQ
 ˜sÂɔ^
JɷɅʟȉ
&RQGLWLRQ DVVHVVPHQW WXQQHOV 'HOKL $LUSRUW ([SUHVV /LQH
&OLHQW 5HOLDQFH ,QIUD  /HDG 3DUWQHU $PEHUJ (QJLQHHULQJ

'HVLJQ RI  ODQHV WZLQ WXEH  NP 1DJDEDVWL 7XQQHO ZLWK YHQWLODWLRQ V\VWHP
&OLHQW 5,7(6

'HVLJQ RI  ODQHV WZLQ WXEH NP 7XQQHO 1+ 

&OLHQW 1+$,

'HVLJQ RI  NP WXQQHO DQG YHQWLODWLRQ V\VWHP WXQQHO QR RI

/XPGLQJ %DGDUSXU OLQH
&OLHQW 1) 5DLOZD\

'HVLJQ RI  WXQQHOV /XPGLQJ %DGDUSXU .XPDUJKDW $JDUWDOD DQG

%DGDUSXU 6LOFKDU OLQHV LQFOXGLQJ  WXQQHOV NP HDFK DQG  WXQQHOV NP HDFK
&OLHQW 1) 5DLOZD\

'HVLJQ RI  WXQQHOV ORQJHVW  NP WRWDO NP Ū 10 ([SUHVVZD\

&OLHQW 065'&

$(   ODQH WXQQHO DW .KDPEDWNL *KDW RQ 1+

&OLHQW 1+$,
2VKLZDUD 6WDWLRQ GHVLJQ ˜sÂɔ^
JɷɅʟȉ
&OLHQW 059&/

.RWSXWOL 7ROO 3OD]D GHVLJQ

&OLHQW 1+$,

0(3 GHWDLOHG GHVLJQ 6WDWLRQV 1DYL 0XPEDL 0HWUR

&OLHQW 6DQ -RVH  0DKDYLU  /HDG 3DUWQHU .9 &RQVXOWRUHV

8UVH 7ROO 3OD]D DQG .KDODSXU :D\VLGH DPHQLWLHV GHVLJQ

&OLHQW 065'&

4XDQWLW\ (VWLPDWLRQ RI 6N\ 7RZHUV 0XPEDL PLR VT IW

&OLHQW ,QGLD %XOOV

6WUXFWXUDO DQG 0(3 GHVLJQ *67 EXLOGLQJ 0XPEDL  PLR VT IW

&OLHQW 065'&

0DVWHUSODQ IRU 515 .KDQXD 9LOODJH LQFOXGLQJ 0(3 LQIUDVWUXFWXUH SODQQLQJ

&OLHQW 3. 'DV $VVRFLDWHV

7UDIILF 6WXG\ 3ODQQLQJ DQG ,PSURYHPHQW RI $%' 5RDG 1HWZRUN IRU 6DSQD 6PDUW &LW\
&OLHQW 7&(

.DUKD 5LYHUIURQW 'HYHORSPHQW DW %DUDPDWL  NP

&OLHQW 3. 'DV $VVRFLDWHV

30& IRU $HURWURSROLV 7RZQVKLS DW 'XUJDSXU

&OLHQW ,/)6
 ˜sÂɔ^
JɷɅʟȉ
:RUOL +DML $OL 6HD /LQN
&OLHQW  5623/

.RWSXWOL 7ROO 3OD]D GHVLJQ

&OLHQW 1+$,

9DGKNDO %\HSDVV 52%

&OLHQW 6XSUHPH 0DKDYLU 639

8UVH 7ROO 3OD]D DQG .KDODSXU :D\VLGH DPHQLWLHV GHVLJQ

&OLHQW 065'&

4XDQWLW\ (VWLPDWLRQ RI 6N\ 7RZHUV 0XPEDL  PLR VT IW

&OLHQW ,QGLD %XOOV

4XDQWLW\ (VWLPDWLRQ RI ,7,QGXVWULDO 3DUN *XUJDRQ  PLR VT IW

&OLHQW ,QGLD %XOOV

-DLSXU 5LQJ 5RDG  52%V  )O\RYHUV

&OLHQW 6DQ -RVH 6XSUHPH 639
˜sÂɔ^ ¢‘ʦʦʹʟȲ
ȉ Ȭȉʰȉ ʦ˘ʦʰȲɴ ȬȲˑȲɫʁʜȲȬ ȥ˘ ˜sÂɔ^ ^ɔɴɔʰȲȬ

75$&&$VVXUH LV D V\VWHP GHYHORSHG E\ 62:L/ /LPLWHG IRU

FRQGXFWLQJ YDOLGDWDEOH DXWRPDWLF YHKLFOH FRXQW DQG FODVVLILFDWLRQ
VXUYH\V

7KUHH YHUVLRQV RI 75$&&$VVXUH 6RIWZDUH DUH DYDLODEOH WR PHHW

WUDIILF VXUYH\ UHTXLUHPHQWV

)XOO YHUVLRQ LV XVHG DW VLWH IRU YLGHR UHFRUGLQJ DQG IHWFKLQJ WH[WXDO
GDWD WLPH V\QFKURQL]DWLRQ EHWZHHQ $7&& DQG 9LGHR &DPHUD

/LWH YHUVLRQ LV XVHG IRU YDOLGDWLQJ FODVVLILHG YHKLFOH FRXQW GDWD

DJDLQVW UHVSHFWLYH YLGHR 8VHU FDQ DGG HGLW DQG GHOHWH UHFRUGV

3OD\HU YHUVLRQ LV IRU YLHZLQJ FODVVLILHG YHKLFOH FRXQW GDWD DORQJ

ZLWK UHVSHFWLYH YLGHR 1R HGLWLQJ IDFLOLW\ LV DYDLODEOH LQ WKLV
YHUVLRQ
˜sÂɔ^ ¢‘ʦʦʹʟȲ
Z*È <*¢©‘*˜

(DV\ VHW XS DQG FRQILJXUDWLRQ

+LJK OHYHO FRPSUHVVLRQ RI YLGHR ILOHV
6\QFKURQL]HV WLPH EHWZHHQ $7&& DQG 9LGHR
&DPHUD
5HGXFHV VXEVWDQWLDO WLPH LQ YDOLGDWLRQ RI YHKLFOH
FRXQWV DQG FODVVLILFDWLRQV
5REXVW DQG HDV\ FXVWRPL]DWLRQV
8VHU IULHQGO\ LQWHUIDFH
(DV\ LPSOHPHQWDWLRQ DQG ORZ LQIUDVWUXFWXUH FRVW
 ˜sÂɔ^ ਩
¢‘ʦʦʹʟȲ
&RQGXFWLQJ WUDIILF VXUYH\V RQ 1DWLRQDO +LJKZD\V LQ =RQH 
6WDWHV :HVW %HQJDO 2GLVKD DQG RWKHU 1RUWK(DVWHUQ 6WDWHV
8VLQJ 3RUWDEOH $XWRPDWLF 7UDIILF &RXQWHU &ODVVLILHU $7&& 6\VWHPV

&OLHQW ,QGLDQ +LJKZD\V 0DQDJHPHQW &RUSRUDWLRQ /LPLWHG ,+0&/ D FRPSDQ\ IRUPHG E\

1DWLRQDO +LJKZD\V $XWKRULW\ RI ,QGLD 1+$, DQG 0LQLVWU\ RI 5RDG DQG 7UDQVSRUW 0R57+
'XUDWLRQ RI $VVLJQPHQW  <HDUV
)UHTXHQF\ RI 7UDIILF 6XUYH\V 7ZLFH LQ D \HDU
7RWDO 1XPEHU RI 6XUYH\ 3RLQWV 
9DOXH Ū 5V  ODNKV
7HFKQRORJ\ XVHG 75$&&$VVXUH
˜sÂɔ^ ɔgg˜
ȉ Ȭȉʰȉ ʦ˘ʦʰȲɴ ȬȲˑȲɫʁʜȲȬ ȥ˘ ˜sÂɔ^ ^ɔɴɔʰȲȬ

&L006 LV D V\VWHP GHYHORSHG E\ 62:L/ /LPLWHG

IRU FRQGXFWLQJ YDOLGDWDEOH LQYHQWRU\ VXUYH\ RI KLJKZD\V

7ZR YHUVLRQV RI &L006 6RIWZDUH DUH DYDLODEOH WR PHHW

LQYHQWRU\ VXUYH\ UHTXLUHPHQWV

)XOO 9HUVLRQ LV XVHG DW VLWH IRU YLGHR UHFRUGLQJ DQG

V\QFKURQLVHG GDWD HQWU\ RI DOO IHDWXUHV

3OD\HU 9HUVLRQ LV IRU YLHZLQJ LQYHQWRU\ GDWD DORQJ ZLWK

UHVSHFWLYH YLGHR 1R HGLWLQJ IDFLOLW\ LV DYDLODEOH LQ WKLV
YHUVLRQ
˜sÂɔ^ ɔgg˜
*ɷȬ ʰʁ *ɷȬ ʁɷʦʹɫʰɔɷɆ
˜ȲʟˑɔȦȲʦ Žˑʰ ^ʰȬू Zʁɫɦȉʰȉ
)RUPHG LQ 0D\  HH LV D VXEVLGLDU\ RI 62:L// ZLWK LWV +4 DW .RONDWD
0U 6DPLUDQ 6HQ H[ (' RI &(6 LV WKH 0DQDJLQJ 'LUHFWRU DQG PLQRULW\ VKDUHKROGHU

3UHIHDVLELOLW\ 6WXG\ IRU %LFKDOLJDW 7XQQHO  .P XQGHUJURXQG FRUULGRU

EHWZHHQ %LFKDOLJKDW WR 'DLJKDW LQ .RONDWD
&OLHQW ,/ )6 /WG

'HWDLOHG GHVLJQ RI -DGDYSXU IO\RYHU LQ .RONDWD IRU .0'$

&OLHQW 6783 /WG

'HWDLOHG GHVLJQ RI &KRZEKDJKD IO\RYHU LQ .RONDWD IRU .0'$

&OLHQW 6783 /WG

6XSHUYLVLRQ RI WRZQVKLS LQIUDVWUXFWXUH DW 'XUJDSXU DLUSRUW IRU %$3/

&OLHQW ,/ )6 /WG

'HVLJQ RI  WRQ &ROG 6WRUDJH LQ %XUGZDQ

&OLHQW +5%&

%XV 5RXWH RSWLPLVDWLRQ VWXG\ IRU VWDWH WUDQVSRUW XQLWV LQ .RONDWD

&OLHQW :HVW %HQJDO 7UDQVSRUW ,QIUDVWUXFWXUH &RUSRUDWLRQ

6WXG\ IRU QHZ EXV URXWHV LQ 1HZ 7RZQ+,'&2 DUHD .RONDWD

&OLHQW :HVW %HQJDO 7UDQVSRUW ,QIUDVWUXFWXUH &RUSRUDWLRQ
ʜʜɫɔȲȬ ŽȉˑȲɴȲɷʰ *ɷɆɔɷȲȲʟɔɷɆ
ʁɷʦʹɫʰȉɷʰʦ Žˑʰ ^ʰȬ
)RUPHG LQ $XJXVW  $3(&6 LV D  MRLQW YHQWXUH ZLWK $SSOLHG 3DYHPHQW
7HFKQRORJ\ ,QF ,OOLQRLV 86$ 7KH REMHFWLYH RI WKH -9 LV WR SURYLGH FXWWLQJ HGJH
SDYHPHQW GHVLJQ SDYHPHQW FRQGLWLRQ DVVHVVPHQW DQG UHKDELOLWDWLRQ DQG SDYHPHQW
PDQDJHPHQW V\VWHPV VHUYLFHV LQ ,QGLD XVLQJ WKH SURSULHWDU\ WHFKQRORJ\
RI $37(&+

9DOXH HQJLQHHULQJ VHUYLFHV IRU SDYHPHQW GHVLJQ 3DQYHO ,QGDSXU 1+  NPV
&OLHQW 6XSUHPH ,QIUDVWUXFWXUH /WG

9DOXH HQJLQHHULQJ VHUYLFHV IRU SDYHPHQW GHVLJQ $KPHGDEDG 9DGRGUD 1+  NPV
&OLHQW 0RGHO 5RDGEXLOGHUV 3YW /WG ,5% JURXS FRV

9DOXH HQJLQHHULQJ VHUYLFHV IRU SDYHPHQW GHVLJQ -DLSXU 5LQJ 5RDG  NP

&OLHQW 6DQMRVH 6XSUHPH 7ROOZD\V 3YW /WG

3URRI FKHFNLQJ RI DLUILHOG DQG ODQGVLGH SDYHPHQW GHVLJQ RI

.DQQXU ,QWHUQDWLRQDO $LUSRUW
&OLHQW / 7

3URRI FKHFNLQJ RI SDYHPHQW GHVLJQ $JUD /XFNQRZ ([SUHVVZD\  NP

&OLHQW / 7

3URRI FKHFNLQJ RI SDYHPHQW GHVLJQ IRU 5RXUNHOD 6DPEKDOSXU 6+   NP

&OLHQW / 7
¢ˑȉʦʰʟ *ɷɆɔɷȲȲʟɔɷɆ
ʁɷʦʹɫʰȉɷʰʦ Žˑʰ ^ʰȬ
)RUPHG LQ  79$675 LV D VXEVLGLDU\ RI 62:L// IRFXVHG LQ SURYLGLQJ 0(3 )LUH
)LJKWLQJ DQG +9$& VHUYLFHV ZLWK LWV +4 DW 1DYL 0XPEDL

0(3 GHVLJQ VHUYLFHV IRU RQH VWDWLRQ RI 1DYL 0XPEDL 0HWUR 0XPEDL
&OLHQW .9 &RQVXOWRUHV 6SDLQ

9DOXH (QJLQHHULQJ VHUYLFHV IRU 0(3 )LUH ILJKWLQJ DQG +9$& IRU  VWDWLRQV RI
1DYL 0XPEDL 0HWUR
&OLHQW 6DQ -RVH 6XSUHPH 0DKDYLU &RQVRUWLXP

3URRI FKHFNLQJ RI 0(3 DLUILHOG DQG ODQGVLGH OLJKWLQJ RI .DQQXU ,QWHUQDWLRQDO $LUSRUW
&OLHQW / 7

0(3 GHVLJQ RI  WRQ &ROG 6WRUDJH DW %XUGZDQ

&OLHQW +5%&
˜sJ^ ‘*˜Žsj˜JJ^J¢È
)281'(5 0(0%(5 )281'(5 0(0%(5

,QWHUQDWLRQDO )RFXV *URXS 1DWLRQDO )RFXV *URXS RQ

RQ 5XUDO 5RDG (QJLQHHULQJ 5XUDO 5RDG (QJLQHHULQJ

ZZZLIJZRUOGRUJ
sj¢¢ ©˜
+($' 2)),&( 1257+ 2)),&( &25325$7( 2)),&(

$  $ :LQJ ' 6HFWRU  )ODW 1R

VW )ORRU *RRGZLOO $YHQXH 1RLGD  (VKD (NWD $SDUWPHQWV
3ORW 1R 6HFWRU  1HUXO :HVW 7HO &DPSD &ROD &RPSRXQG
1DYL 0XPEDL      %* .KHU 5RDG
7HO     :RUOL
        0XPEDL 
    (PDLO 7HO    
(PDLO DGQRUWK#VRZLOOLPLWHGFRP (PDLO
FHR#VRZLOOLPLWHGFRP EGQRUWK#VRZLOOLPLWHGFRP FRUSRUDWH#VRZLOOLPLWHGFRP
DGPLQ#VRZLOOLPLWHGFRP :HE :HE
:HE ZZZVRZLOOLPLWHGFRP ZZZVRZLOOLPLWHGFRP
ZZZVRZLOOLPLWHGFRP
 .((3
60Ζ/Ζ1*