7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'(6,*1(' '$7($XJ
&+(&.('
3$1$621,&(/(&75,&:25.6/7'
6:,7&+,1*'(9,&(',9,6,21
(1$&7('
1DPH,QIUDUHG$UUD\6HQVRU*ULG(<(
3DUW1R
3DUW1R6\VWHP
3DUW1R/LVW
$0*9'' 9+LJKJDLQW\SH
$0*9'' 9/RZJDLQW\SH
$0*9'' 9+LJKJDLQW\SH
 $0*9'' 9/RZJDLQW\SH
'UDZLQJ$0*3URGXFWGUDZLQJ
&KDUDFWHULVWLFV
,QWHUQDOFLUFXLW
մ,17WHUPLQDOQRUPDOO\KDVVDPHYROWDJHDV9'':KHQLQWHUUXSWLQJVDPHDV*1'9
5HJDUGLQJRIUHFRPPHQGHGH[WHUQDOFLUFXLWSOHDVHUHIHUWRVHFWLRQ
$0*
$PSOLILFDWLRQIDFWRU!
+LJKJDLQ

/RZJDLQ
6XSSO\YROWDJH!
'&9
'&9
+RUL]RQWDOSL[HO!
SL[HOV
9HUWLFDOSL[HO!
SL[HOV
6HQVRUFKLS
9''
*1'
,&,)
7KHUPLVWRU
&DSDFLWRU
ȣ)
,QIUDUHG$UUD\6HQVRU*ULG(<(
'&9RU'&9
*1'
6'$
6&/
,17
$'B6(/(&7
&RQWURO
520
$'&
*DLQ
DPS
6HOHFWRU
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
0DLQ)XQFWLRQV
,WHP 9DOXH
3L[HOQXPEHU 0DWUL[
([WHUQDO,QWHUIDFH ,&IDVWPRGH
)UDPHUDWH 7\SIUDPHVVHFRU7\SIUDPHVHF
2SHUDWLQJ0RGH 1RUPDO
6OHHS
6WDQGE\VHFRUVHFLQWHUPLWWHQFH
2XWSXW0RGH 7HPSHUDWXUH2XWSXW
&DOFXODWH0RGH 1RPRYLQJDYHUDJHRU7ZLFHPRYLQJDYHUDJH
7HPSHUDWXUH2XWSXW5HVROXWLRQ Υ
1XPEHURI6HQVRU$GGUHVVHV ,&6ODYH$GGUHVV
7KHUPLVWRU2XWSXW7HPSHUDWXUH5DQJH Υ㹼Υ
7KHUPLVWRU2XWSXW5HVROXWLRQ Υ
$EVROXWH0D[LPXP5DWLQJV
,WHP 6SHFLILFDWLRQ 7HUPLQDO
$SSOLHGYROWDJH 9 9''933
,QSXW2XWSXWYROWDJH 9GG9 6&/6'$$'B6(/(&7
2XWSXWFXUUHQW P$ ,176'$
(6'+XPDQ%RG\0RGHO N9 $OO7HUPLQDOV
(6'0DFKLQH0RGHO 9 $OO7HUPLQDOV
5DWLQJV
6SHFLILFDWLRQ,WHP
+LJKJDLQ /RZJDLQ
$SSOLHGYROWDJH 9s9RU9s9
7HPSHUDWXUH5DQJHRI0HDVXULQJ2EMHFW
Υ㹼Υ Υ㹼Υ
2SHUDWLQJWHPSHUDWXUH Υ㹼Υ Υ㹼Υ
6WRUDJHWHPSHUDWXUH Υ㹼Υ
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
&KDUDFWHULVWLFV
6SHFLILFDWLRQ,WHP
+LJKJDLQ /RZJDLQ
7HPSHUDWXUH$FFXUDF\ :LWKLQ7\SsΥ :LWKLQ7\SsΥ
5DWHGGHWHFWLRQGLVWDQFH
P0D[
)LHOGRI9LHZ 7\Sr㸦+RUL]RQWDO9HUWLFDO
2SWLFDO$[LV*DS :LWKLQ7\Ssr㸦+RUL]RQWDO9HUWLFDO
&XUUHQW&RQVXPSWLRQ 7\SP$QRUPDOPRGH
7\SP$VOHHSPRGH
7\SP$VWDQGE\PRGH
6HWXS7LPH 7\SPVHF7LPHWRHQDEOH&RPPXQLFDWLRQDIWHU6HWXS
7\SVHF7LPHWRVWDELOL]H2XWSXWDIWHU6HWXS
 7RKDYHPRUHWKDQΥRIWHPSHUDWXUHGLIIHUHQFHIURPEDFNJURXQG
'HWHFWLRQREMHFWVL]HPP$VVXPDEOHKXPDQERG\VL]H
(OHFWULFFKDUDFWHULVWLFV
 &KDUDFWHULVWLFVRIWKH6'$DQG6&/,2VWDJHV
SDUDPHWHU V\PERO 0LQ 0D[ XQLW
/RZOHYHOLQSXWYROWDJH 9,/  9'' 9
+LJKOHYHOLQSXWYROWDJH 9,+ 9'' 9'' 9
+\VWHUHVLV6'$6&/ 9K\V 9'' 9
/RZOHYHORXWSXWYROWDJH
DWP$VLQNFXUUHQW
92/
  9
2XWSXWIDOOWLPHIURP9,+PLQWR9,/PD[ZLWK
DEXVFDSDFLWDQFHIURPS)WRS)
WRI&E  QV
3XOVH ZLGWK RI VSLNHV ZKLFK PXVW EH
VXSSUHVVHGE\WKHLQSXWILOWHU
W63  QV
,QSXWFXUUHQWHDFK,2SLQZLWKDQLQSXW
YROWDJHEHWZHHQ9''9''
,,  ȣ$
&DSDFLWDQFHIRUHDFK,2SLQ &L   S)
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
&KDUDFWHULVWLFVRIWKH6'$DQG6&/EXVOLQHV
SDUDPHWHU V\PERO 0LQ 0D[ XQLW
6&/FORFNIUHTXHQF\ I6&/   N+]
+ROGWLPHUHSHDWHG67$57
FRQGLWLRQ
W+'67$   QV
/RZSHULRGRIWKH6&/FORFN
W/2:  ȣV
+LJK SHULRG RI WKH
6&/
FORFN
7+,*+  ȣV
6HW
XSWLPHIRUDUHSHDWHG
67$57FRQGLWLRQ
W6867$  ȣV
'DWDKROGWLPH W+''$7   QV
'DWDVHWXSWLPH W68'$7  QV
5LVHWLPHRIERWK6'$
DQG
6&/VLJQDOVI6&/!N+]
WU 
&E
 QV
5LVHWLPHRIERWK6'$
DQG
6&/VLJQDOVI6&/ӌN+]
WU  QV
)DOOWLPHRIERWK6'$DQG
6&/VLJQDOV
WI 
&E
 QV
6HW
XS WLPH IRU 6723
FRQGLWLRQ
W68672  QV
%XV IUHH WLPH EHWZHHQ D
6723DQG67$57FRQGLWLRQ
W%8)  QV
&DSDFLWLYHORDGIRUHDFK
EXVOLQH
&E  S)
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
3L[HO$UUD\9LHZLQJ)LHOG
3L[HO$UUD\
  3L[HO$UUD\IURPWRLVVKRZQEHORZ
9LHZLQJ)LHOG
6HQVRU9LHZLQJ)LHOG7\SLFDOLVVKRZQEHORZ
























































      
Horizontal viewing angle 6
Vertical viewing angle 60°
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
7\SLFDOFKDUDFWHULVWLFV(DFKSL[HOVYLHZLQJFHQWUDODQJOH
5HJDUGLQJRI3L[HO$UUD\SOHDVHUHIHUWR
 6HQVRUVRSWLFDOFHQWHUWKHRULJLQRIJUDSKEHORZJDS
ZLWKLQ7\Ssr㸦%RWKRIKRUL]RQWDODQGYHUWLFDOGLUHFWLRQV
-40
-30
-20
-10
0
10
20
30
40
-40 -20 0 20 40
横方向の視野中心角(°)
°
7\SLFDOFKDUDFWHULVWLFV(DFKSL[HOVYLHZLQJDQJOHKDOIDQJOH
&HQWUDOSL[HOV3L[HO1RYLHZLQJDQJOHKDOIDQJOH
KRUL]RQWDOGLUHFWLRQ7\Sr
  YHUWLFDOGLUHFWLRQ7\Sr
㻝㻜
㻝㻡
㻞㻜
㻝㻟 㻝㻣 㻞㻡 㻟㻟 㻟㻣 㻠㻡 㻡㻟
㻝㻜
㻝㻡
㻞㻜
㻝㻟 㻝㻣 㻞㻡 㻟㻟 㻟㻣 㻠㻡 㻡㻟
(DFKSL[HOʼV+RUL]RQWDOYLHZLQJDQJOH(DFKSL[HOʼVYHUWLFDOYLHZLQJDQJOH
Horizontal viewing central angle(°)
Vertical viewing
central
angle
(
°
)
E
ach pixel
s Horizontal
viewing angle
(
°
)
E
ach pixel
s
Vertical viewing angle
(
°
)
Pixel Number
Pixel N
umber
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
7HUPLQDOV)XQFWLRQ
3OHDVHUHIHUWRSURGXFWGUDZLQJDERXWSLQDVVLJQPHQW
3OHDVHGRQWFRQQHFWZLUHVLQ1&WHUPLQDOV
7HUPLQDO
1R
1DPH )XQFWLRQ ,2
5HPDUNV
ձ 1& 
ղ 6'$ ,&GDWDOLQH ,2
ճ 6&/ ,&FORFNOLQH ,
մ ,17 ,QWHUUXSWIODJ
7KLVIODJLQGLFDWHVZKHWKHU,QWHUUXSWLVJHQHUDWHG
RUQRWZKHQ,17FRQWUROUHJLVWHULVDFWLYDWHG
+LJK9'',QWHUUXSWLVQRWJHQHUDWHG
/RZ9,QWHUUXSWLVJHQHUDWHG
2 3OHDVHUHIHUWR
VHFWLRQ
յ$'B6(/(&7
6HQVRUDGGUHVVVHWWLQJ
QXPEHUVHWWDEOHZLWKFRQQHFWLQJWR9''RU*1'
, 3OHDVHUHIHUWR
VHFWLRQ
ն *1' 9 ,
շ 1& 
ո 1& 
չ 9'' '&9RU'&9 ,
պ $9''3&
&DSDFLWRUFRQQHFWHG , 3OHDVHUHIHUWR
VHFWLRQ
ջ 1& 
ռ '9''3&
&DSDFLWRUFRQQHFWHG , 3OHDVHUHIHUWR
VHFWLRQ
ս 933 9''FRQQHFWLRQ ,
վ 1& 
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
5HFRPPHQGHG([WHUQDO&LUFXLW
7KLVFLUFXLWLVDQH[DPSOHWRGULYH,QIUDUHG$UUD\6HQVRU*ULG(<(VRWKDW
RXUFRPSDQ\ZLOOQRWWDNHDQ\UHVSRQVLELOLW\RIORVVZKLFKLVGXHWRWKLVFLUFXLW
,QFDVHRIVHWWLQJ,&VODYHDGGUHVVRIWKHVHQVRU
&RQQHFW7HUPLQDOյ㸦$'B6(/(&77HUPLQDOWR*1'
 
,QFDVHRIVHWWLQJ,&VODYHDGGUHVVRIWKHVHQVRU
&RQQHFW7HUPLQDOյ㸦$'B6(/(&77HUPLQDOWR9''

To microcomputer etc.
To microcomputer etc.
To microcomputer etc.
To microcomputer etc.
To microcomputer etc.
To microcomputer etc.
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
'HVFULSWLRQRI)XQFWLRQV
5HJLVWHUVVKRZQEHORZDUHSRVVLEOHWREHVHWRSWLRQDOO\
7DNHFDUHWRDYRLGZULWLQJUHJLVWHUDQGELWZKLFKDUHQRWVSHFLILHGLWPD\
FDXVHRIPDNLQJSURSHURSHUDWLRQLPSRVVLEOHDQGFDXVLQJDGHWHULRUDWLRQLQ
LWVSHUIRUPDQFH
 3RZHU&RQWURO5HJLVWHU
5HJLVWHUIRUVHWWLQJRSHUDWLQJPRGHRIGHYLFH
:LWKVHWWLQJSURYLGHGFRPPDQGFKDQJLQJWRHDFKRSHUDWLQJPRGHLVSRVVLEOH
:ULWLQJRSHUDWLRQLQ6OHHSPRGHLVRQO\DFWLYHLQUHWXUQWR1RUPDOPRGH
&RPPDQG[
5HDGLQJRSHUDWLRQLQ6OHHSPRGHLVLQYDOLG
DGGUHVV UHJLVWHU
5: ELW ELW ELW ELW ELW ELW ELW ELW ,QLWLDO
YDOXH
[ 3&7/ 5: 3&7/>@ [
&RPPDQG
2SHUDWLQJPRGH
[ 1RUPDOPRGH
[ 6OHHSPRGH
[ 6WDQGE\PRGHVHFLQWHUPLWWHQFH
[ 6WDQGE\PRGHVHFLQWHUPLWWHQFH
1RUPDO
PRGH
6OHHS
PRGH
6WDQGE\
PRGH
[ [
[
[ [
[
7UDQGLWLRQ 'LDJUDPRI2SHUDWLQJPRGH
325
1RUPDO
PRGH
6OHHS
PRGH
6WDQGE\
PRGH
[ [
[
[ [
[
7UDQGLWLRQ 'LDJUDPRI2SHUDWLQJPRGH
325
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
 5HVHW5HJLVWHU
5HJLVWHURQO\IRUZULWLQJWRUHVHWVRIWZDUH
:ULWLQJLQVSHFLILFFRGHDQGUHJLVWHUPDNHV6RIWZDUH5HVHWSRVVLEOH
7KHUHDUHWZRNLQGVRI6RIWZDUH5HVHW
ձ )ODJ5HVHWFDQDOOFOHDUWKH6WDWXV5HJLVWHU[,QWHUUXSW)ODJ
DQG,QWHUUXSW7DEOH[[
ղ ,QLWLDO5HVHWEULQJV)ODJUHVHWDQGUHWXUQVWRLQLWLDOVHWWLQJ
DGGUHVV
UHJLVWHU
5: ELW
ELW
ELW
ELW
ELW
ELW
ELW
ELW
,QLWLDO
YDOXH
[ 567 : 567>@ [
FRPPDQG 2SHUDWLQJPRGH
[ )ODJUHVHW
[) ,QLWLDOUHVHW
HOVH 
 )UDPH5DWH5HJLVWHU
5HJLVWHUIRUVHWWLQJ)UDPH5DWH
ELW6HWWLQJ)UDPH0RGH
)36
)36
DGGUHVV
UHJLVWHU
5: ELW
ELW
ELW
ELW
ELW
ELW
ELW
ELW ,QLWLDO
YDOXH
[ )36& 5:        )36 [
 ,QWHUUXSW&RQWURO5HJLVWHU
5HJLVWHUIRUVHWWLQJ,QWHUUXSW)XQFWLRQ
ELW,1702'
$EVROXWH9DOXH,QWHUUXSW0RGH
'LIIHUHQFH,QWHUUXSW0RGH
ELW,17(1
,172XWSXWDFWLYH
,172XWSXWUHDFWLYH+L=
DGGUHVV
UHJLVWHU
5: ELW
ELW
ELW
ELW
ELW
ELW
ELW
ELW ,QLWLDO
YDOXH
[ ,17& 5:       ,1702'
,17(1
[
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
 6WDWXV5HJLVWHU
5HJLVWHUIRURQO\UHDGLQJWRLQGLFDWH2YHUIORZ)ODJDQG,QWHUUXSW)ODJ
ELW29)B7+6
7KHUPLVWRU7HPSHUDWXUH2XWSXW2YHUIORZ
9DOXHRI7KHUPLVWRU[([)[)))
ELW29)B,56
7HPSHUDWXUH2XWSXW2YHUIORZ
9DOXHRI7HPSHUDWXUH5HJLVWHU[[))[)))
ELW,17)
,QWHUUXSW2XWEUHDN
9DOXHRI,QWHUUXSW7DEOH5HJLVWHU[[([FHSWIRU[
DGGUHVV
UHJLVWHU
5: ELW
ELW
ELW
ELW
ELW
ELW
ELW
ELW ,QLWLDO
YDOXH
[ 67$7 5     29)B7+6
29)B,56
,17)
 [
 6WDWXV&OHDU5HJLVWHU
5HJLVWHUIRURQO\ZULWLQJWRFOHDUWKH2YHUIORZ)ODJDQG,QWHUUXSW)ODJ
$IWHUZULWLQJDXWRPDWLFDOO\WXUQV[
ELW297B&/5
7KHUPLVWRU7HPSHUDWXUH2XWSXW2YHUIORZ)ODJ&OHDU
ELW296B&/5
7HPSHUDWXUH2XWSXW2YHUIORZ)ODJ&OHDU
ELW,17&/5
,QWHUUXSW)ODJ&OHDU
DGGUHVV
UHJLVWHU
5: ELW
ELW
ELW
ELW
ELW
ELW
ELW
ELW ,QLWLDO
YDOXH
[ 6&/5 :     297B&/5
296B&/5
,17&/5
 [
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
 $YHUDJH5HJLVWHU
5HJLVWHUIRUVHWWLQJPRYLQJDYHUDJH2XWSXW0RGH
ELW0$02'
7ZLFHPRYLQJDYHUDJH2XWSXW0RGH
DGGUHVV
UHJLVWHU
5: ELW
ELW
ELW
ELW
ELW
ELW
ELW
ELW ,QLWLDO
YDOXH
[ $9( 5:   0$02'
     [
 ,QWHUUXSW/HYHO5HJLVWHU
5HJLVWHUIRUVHWWLQJXSSHUORZHUOLPLW+\VWHUHVLVRQ,QWHUUXSW/HYHO
9DOLGELWLVELW,QWHUUXSW/HYHOVHWWLQJLVWZRVFRPSOHPHQWVHWWLQJ
DGGUHVV
UHJLVWHU 5: ELW ELW
ELW ELW ELW ELW ELW ELW ,QLWLDO
YDOXH
[ ,17+/ ,17B/9/B+>@
[ ,17++  ,17B/9/B+>@
[$ ,17// ,17B/9/B/>@
[% ,17/+  ,17B/9/B/>@
[& ,+<6/ ,17B+<6>@
[' ,+<6+
5:
 ,17B+<6>@
[
,17B/9/B+>@
,QWHUUXSW/HYHOXSSHUOLPLWVHWWLQJ
:KHQWKHYDOXHLVXSSHUWKDQWKHVHWYDOXH
,QWHUUXSW2XWSXWDQG,QWHUUXSW3L[HO7DEOHDUHVHW
,17B/9/B/>@
,QWHUUXSW/HYHOORZHUOLPLWVHWWLQJ
:KHQWKHYDOXHLVORZHUWKDQWKHVHWYDOXH
,QWHUUXSW2XWSXWDQG,QWHUUXSW3L[HO7DEOHDUHVHW
,17B+<6>@
6HWWLQJRI,QWHUUXSW+\VWHUHVLV/HYHO
:KHQ,QWHUUXSWLVJHQHUDWHGVHW+\VWHUHVLV/HYHODSSOLHGWR
,QWHUUXSW/HYHOXSSHUORZHUYDOXH
:KHQWKHYDOXHLVVHWRYHU,QWHUUXSW/HYHO
,QWHUUXSW2XWSXWFDQQRWEHFRUUHFW
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
 7KHUPLVWRU5HJLVWHU
7KHUPLVWRU7HPSHUDWXUH5HJLVWHULVDUHDGRQO\UHJLVWHUZKLFKLQGLFDWH
7KHUPLVWRU7HPSHUDWXUH'DWD
7HPSHUDWXUH'DWDLVELWGDWDDQGE\WHGDWD
/6%KDVELWUHVROXWLRQZKLFKLVHTXLYDOHQWWRΥDQG
LWLVLQGLFDWHGDVFRGHDEVROXWHYDOXH
0DLQWHPSHUDWXUHGDWDDUHVKRZQEHORZ
DGGUHVV
UHJLVWHU
5: ELW ELW ELW ELW ELW ELW ELW ELW ,QLWLDO
YDOXH
[( 77+/ 5 7 7 7 7 7 7 7 7 [
[) 77++ 5      7 7 7 [
WHPSHUDWXUH %LQDU\QXPEHU +(;QXPEHU
Υ BB ['
Υ BB [
Υ BB [
Υ BB [
Υ BB [
Υ BB [
,QWHUUXSW7DEOH5HJLVWHU
5HJLVWHUIRUUHDGLQJRQO\WRLQGLFDWHSL[HOV
ZKLFKWHPSHUDWXUHRXWSXWVDUHRYHUWKHWKUHVKROG
DGGUHVV
UHJLVWHU
5: ELW ELW ELW ELW ELW ELW ELW ELW ,QLWLDO
YDOXH
[ ,17 5 3,;
3,;
3,;
3,;
3,;
3,;
3,;
3,;
[
[ ,17 5 3,;
3,;
3,;
3,;
3,;
3,;
3,;
3,;
[
[ ,17 5 3,;
3,;
3,;
3,;
3,;
3,;
3,;
3,;
[
[ ,17 5 3,;
3,;
3,;
3,;
3,;
3,;
3,;
3,;
[
[ ,17 5 3,;
3,;
3,;
3,;
3,;
3,;
3,;
3,;
[
[ ,17 5 3,;
3,;
3,;
3,;
3,;
3,;
3,;
3,;
[
[ ,17 5 3,;
3,;
3,;
3,;
3,;
3,;
3,;
3,;
[
[ ,17 5 3,;
3,;
3,;
3,;
3,;
3,;
3,;
3,;
[
3,;Q
6HWWLQJSL[HOVRYHUWKHWKUHVKROG
3L[HOLQWHUUXSWLVJHQHUDWHG
3L[HOLQWHUUXSWLVQRWJHQHUDWHG
,QWHUUXSW7DEOHLVUHQHZHGLQWLPLQJZLWKZKHQRXWSXWGDWDLVUHQHZHG
,QWHUUXSW7DEOHLVSRVVLEOHWREHFOHDUHGE\UHVHWUHVLVWHU
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
7HPSHUDWXUH5HJLVWHU
5HJLVWHUIRUUHDGLQJRQO\WRLQGLFDWHWHPSHUDWXUHGDWDSHUSL[HO
7HPSHUDWXUH'DWDRIHDFKSL[HOLVELWGDWDDQGE\WHGDWD
/6%KDVELWUHVROXWLRQELWVLJQZKLFKLVHTXLYDOHQWWRΥ
DQGLWLVLQGLFDWHGDVWZRVFRPSOHPHQWIRUP
0DLQWHPSHUDWXUHGDWDDUHVKRZQEHORZ
DGGUHVV
UHJLVWHU
5:
ELW ELW ELW ELW ELW ELW ELW ELW ,QLWLDO
YDOXH
[ 7/ 5 7 7 7 7 7 7 7 7 [
[ 7+ 5      7 7 7 [
WHPSHUDWXUH %LQDU\QXPEHU +(;QXPEHU
Υ BB [)
Υ BB [
Υ BB [
Υ BB [
Υ BB [)))
Υ BB [)&
Υ BB [)
6XSSOHPHQW
7HPSHUDWXUH'DWDRI3L[HO[[))DUHUHQHZHGLQDOXPS
LQWLPLQJZLWKQRLQVWUXFWLRQIURPH[WHUQDO0DVWHU
5HQHZDOWLPHGHSHQGVRQWKHVHWWLQJIUDPHUDWH
%HFDXVHRIUHDGLQJ[[))DWRQFH
ROGDQGQHZWHPSHUDWXUHGDWDQHYHUEHPLQJOHGLQSL[HOVGDWD
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
5HJLVWHU0DS
5HDG:ULWHFROXPQ 5:ERWKRI5HDG:ULWH55HDGRQO\::ULWHRQO\
$GGUHVV
5HJLVWHU1DPH 5HDG:ULWH
'HVFULSWLRQ ,QLWLDOYDOXH
[ 3&7/ 5: 6HWRSHUDWLQJPRGH1RUPDO6OHHSHWF
[
[ 567 : 6RIWZDUH5HVHW [
[ )36& 5: )UDPHUDWH [
[ ,17& 5: ,QWHUUXSW)XQFWLRQ [
[ 67$7 5 ,QWHUUXSW)ODJORZYROWDJH )ODJ [
[ 6&/5 : ,QWHUUXSW)ODJ&OHDU [
[ 5HVHUYHG
[ $9( 5 0RYLQJ$YHUDJH2XWSXW0RGH [
[ ,17+/ 5: ,QWHUUXSWXSSHUYDOXH8SSHUOHYHO[
[ ,17++ 5: ,QWHUUXSWXSSHUYDOXH8SSHUOHYHO [
[$ ,17// 5: ,QWHUUXSWORZHUYDOXH/RZHUOHYHO [
[% ,17/+ 5: ,QWHUUXSWORZHUYDOXHXSSHUOHYHO [
[& ,+<6/ 5: ,QWHUUXSWK\VWHUHVLVYDOXH/RZHUOHYHO
[
[' ,+<6+ 5: ,QWHUUXSWK\VWHUHVLVYDOXH8SSHUOHYHO
[
[( 77+/ 5 7KHUPLVWRU2XWSXW9DOXH/RZHUOHYHO
[
[) 77++ 5 7KHUPLVWRU2XWSXW9DOXH8SSHUOHYHO
[
[ ,17 5 3L[HO,QWHUUXSW5HVXOW [
[ ,17 5 3L[HO,QWHUUXSW5HVXOW [
[ ,17 5 3L[HO,QWHUUXSW5HVXOW [
[ ,17 5 3L[HO,QWHUUXSW5HVXOW [
[ ,17 5 3L[HO,QWHUUXSW5HVXOW [
[ ,17 5 3L[HO,QWHUUXSW5HVXOW [
[ ,17 5 3L[HO,QWHUUXSW5HVXOW [
[ ,17 5 3L[HO,QWHUUXSW5HVXOW [
[ 5HVHUYHG
[ 5HVHUYHG
[$ 5HVHUYHG
[% 5HVHUYHG
[& 5HVHUYHG
[' 5HVHUYHG
[( 5HVHUYHG
[) 5HVHUYHG
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
$GGUHVV
5HJLVWHU1DPH 5HDG:ULWH
'HVFULSWLRQ ,QLWLDOYDOXH
[ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[ 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[ 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[ 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[ 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[ 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[$ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[% 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[& 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[' 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[( 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[) 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[ 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[ 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[ 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[ 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[ 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[$ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[% 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[& 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[' 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[( 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[) 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
$GGUHVV
5HJLVWHU1DPH
5HDG:ULWH
'HVFULSWLRQ ,QLWLDOYDOXH
[$ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[$ 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[$ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[$ 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[$ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[$ 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[$ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[$ 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[$ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[$ 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[$$ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[$% 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[$& 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[$' 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[$( 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[$) 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[% 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[% 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[% 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[% 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[% 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[% 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[% 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[% 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[% 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[% 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[%$ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[%% 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[%& 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[%' 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[%( 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[%) 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
$GGUHVV
5HJLVWHU1DPH
5HDG:ULWH
'HVFULSWLRQ ,QLWLDOYDOXH
[& 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[& 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[& 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[& 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[& 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[& 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[& 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[& 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[& 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[& 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[&$ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[&% 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[&& 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[&' 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[&( 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[&) 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[' 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[' 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[' 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[' 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[' 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[' 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[' 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[' 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[' 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[' 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
['$ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
['% 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
['& 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
['' 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
['( 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[') 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
$GGUHVV
5HJLVWHU1DPH
5HDG:ULWH
'HVFULSWLRQ ,QLWLDOYDOXH
[( 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[( 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[( 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[( 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[( 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[( 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[( 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[( 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[( 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[( 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[($ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[(% 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[(& 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[(' 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[(( 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[() 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[) 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[) 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[) 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[) 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[) 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[) 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[) 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[) 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[) 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[) 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[)$ 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[)% 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[)& 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[)' 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
[)( 7/ 5 3L[HO2XWSXW9DOXH/RZHU/HYHO [
[)) 7+ 5 3L[HO2XWSXW9DOXH8SSHU/HYHO [
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
 /RW1RRIPDQXIDFWXUHG
ڧڧڧڧڧڧ
'DWDRIPDQXIDFWXUHG([SUHVVHGLQWZRGLJLWV
ILUVW
0RQWKRIPDQXIDFWXUHG([SUHVVHGLQWZRGLJLWV
-DQXDU\
<HDURIPDQXIDFWXUHG([SUHVVHGLQODVWWZRGLJLWV
RIWKH\HDU


㸴㸬6DIHW\3UHFDXWLRQV
6DIHW\3UHFDXWLRQV
+HDGWKHIROORZLQJSUHFDXWLRQVWRSUHYHQWLQMXU\RUDFFLGHQWV
ձ'RQRWXVHWKHVHVHQVRUVXQGHUDQ\FLUFXPVWDQFHLQZKLFKWKHUDQJHRIWKHLUUDWLQJV
HQYLURQPHQWFRQGLWLRQVRURWKHUVSHFLILFDWLRQVDUHH[FHHGHG
8VLQJWKHVHQVRUVLQDQ\ZD\ZKLFKFDXVHVWKHLUVSHFLILFDWLRQVWREHH[FHHGHGPD\
JHQHUDWHDEQRUPDOO\KLJKOHYHOVRIKHDWHPLWVPRNHHWFUHVXOWLQJLQGDPDJHWR
WKHFLUFXLWU\DQGSRVVLEO\FDXVLQJDQDFFLGHQW
ղ%HIRUHFRQQHFWLQJDFRQQHFWRUFKHFNWKHSLQOD\RXWE\UHIHUULQJWRWKHFRQQHFWRU
ZLULQJGLDJUDPVSHFLILFDWLRQVGLDJUDPHWFDQGPDNHVXUHWKDWWKHFRQQHFWRULV
FRQQHFWHGSURSHUO\
7DNHQRWHWKDWPLVWDNHVPDGHLQFRQQHFWLRQPD\FDXVHXQIRUHVHHQSUREOHPVLQRSHUDWLRQ
JHQHUDWHDEQRUPDOO\KLJKOHYHOVRIKHDWHPLWVPRNHHWFUHVXOWLQJLQGDPDJHWR
WKHFLUFXLWU\
ճ'RQRWXVHDQ\,QIUDUHG$UUD\6HQVRUZKLFKKDVEHHQGLVDVVHPEOHGRUUHPRGHOHG
մ)DLOXUHPRGHVRIVHQVRUVLQFOXGHVKRUWFLUFXLWLQJRSHQFLUFXLWLQJDQGWHPSHUDWXUH
ULVHV
,IWKLVVHQVRULVWREHXVHGLQHTXLSPHQWZKHUHVDIHW\LVDSULPHFRQVLGHUDWLRQH[DPLQH
WKHSRVVLEOHHIIHFWVRIWKHVHIDLOXUHVRQWKHHTXLSPHQWFRQFHUQHGDQGHQVXUHVDIHW\
E\SURYLGLQJSURWHFWLRQFLUFXLWVRUSURWHFWLRQGHYLFHV
([DPSOH 6DIHW\HTXLSPHQWVDQGGHYLFHV
7UDIILFVLJQDOV
%XUJODUDQGGLVDVWHUSUHYHQWLRQGHYLFHV
&RQWURODQGVDIHW\GHYLFHIRUWUDLQVDQGPRWRUYHKLFOHV
7HPSHUDWXUHFRQWUROGHYLFHXVLQJVHQVRURXWSXWGDWD(WF
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
㸵㸬127(6
&KHFNSRLQWVUHODWLQJWRSULQFLSOHRIRSHUDWLRQ
7KH,QIUDUHG$UUD\6HQVRULVDWKHUPRSLOHW\SHGLQIUDUHGVHQVRUZKLFKGHWHFWV
TXDQWLW\RILQIUDUHGUD\
*HQHUDOO\WHPSHUDWXUHDFFXUDF\ZLOOEHGHJUDGHGLQWKHIROORZLQJVLWXDWLRQV
%HVXUHWRYHULI\SHUIRUPDQFHDQGUHOLDELOLW\XQGHUDFWXDOFRQGLWLRQVRIXVHDQG
PDNHDQ\QHFHVVDU\WHPSHUDWXUHFRUUHFWLRQV
7KHUHLVDKHDWHPLWWLQJERG\ORFDWHGFORVHWRZKHUHWKHVHQVRULVPRXQWHG
$IORZRIZDUPRUFROGDLULVKLWWLQJWKHVHQVRU
7KHWHPSHUDWXUHRIWKHVHQVRULVVXEMHFWWRVXGGHQFKDQJH
:KHQDQREMHFWPDGHRIJODVVDFU\OLFRURWKHUVXEMHFWZKLFKIDULQIUDUHGUD\V
KDYHGLIILFXOWSDVVLQJWKURXJKLVORFDWHGEHWZHHQWKHVHQVRUDQGZKDWLVWREH
GHWHFWHG
$VXEVWDQFHGLUWRUZDWHUGURSOHWVWKDWPDNHVLWGLIILFXOWIRUIDULQIUDUHGUD\V
WRSDVVWKURXJKLVDWWDFKHGWRWKHVHQVRUOHQV
$PELHQWRSHUDWLQJFRQGLWLRQV
7HPSHUDWXUH 3OHDVHUHIHUWR5DWLQJV
+XPLGLW\WR5+1RIUHH]LQJQRUFRQGHQVDWLRQDWORZWHPSHUDWXUH
$WPRVSKHULFSUHVVXUHWRN3D
3URWHFWWKHVHQVRUIURPLPSDFWDQGYLEUDWLRQEHFDXVHWKHUHFDQFDXVHGDPDJHWKDW
OHDGVWRPDOIXQFWLRQDQGGHJUDGHGSHUIRUPDQFH
$QGDYRLGDSSO\LQJDORDGRULPSDFWVLQFHWKLVZLOOGHIRUPRUVFUDWFKWKHOHQV
PDNLQJSURSHURSHUDWLRQLPSRVVLEOHDQGFDXVLQJDGHWHULRUDWLRQLQLWVSHUIRUPDQFH
7KHVHQVRUVGRQRWKDYHDZDWHUSURRIRUGXVWSURRIFRQVWUXFWLRQ
'HSHQGLQJRQWKHDPELHQWRSHUDWLQJFRQGLWLRQVVRPHPHDQVRISURYLGLQJSURWHFWLRQ
IURPZDWHUDQGGXVWDQGSUHYHQWLQJWKHIRUPDWLRQRILFHDQGFRQGHQVDWLRQPXVWEH
SURYLGHGSULRUWRXVLQJWKHVHQVRU
,IFRQGHQVDWLRQRFFXUVKHDWVRXUFHGHWHFWLRQUHVSRQVHPD\EHFRPHGHOD\HGE\
VHYHUDOVHFRQGV
3OHDVHDYRLGXVLQJRUVWRULQJWKHSUHVVXUH VHQVRUFKLSLQDSODFHH[SRVHGWR
FRUURVLYHJDVHVVXFKDVWKHJDVHVJLYHQRIIE\RUJDQLFVROYHQWVVXOIXURXVDFLGJDV
K\GURJHQVXOILGHVHWFZKLFKZLOODGYHUVHO\DIIHFWWKHSHUIRUPDQFHRI
WKHLQIUDUHGDUUD\VHQVRU
6LQFHWKHLQWHUQDOFLUFXLWU\PD\EHGHVWUR\HGLIDQH[WHUQDOVXUJHYROWDJHVLVVXSSOLHG
SURYLGHDQHOHPHQWZKLFKZLOODEVRUEWKHVXUJHV
0DOIXQFWLRQLQJPD\RFFXULIWKHSURGXFWLVLQWKHYLFLQLW\RIHOHFWULFDOQRLVHVXFK
DVWKDWIURPVWDWLFHOHFWULFLW\OLJKWQLQJDPRELOHSKRQHDQDPDWHXUUDGLR
EURDGFDVWLQJVWDWLRQ
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
$OWKRXJKWKHDPELHQWWHPSHUDWXUHKXPLGLW\UDQJHLVDWHPSHUDWXUHKXPLGLW\UDQJH
ZKLFKFDQRSHUDWHDVHQVRUFRQWLQXRXVO\WKHKXPLGLW\UDQJHFKDQJHVZLWKWHPSHUDWXUH
6RSOHDVHXVHLWLQWKHKXPLGLW\UDQJHVKRZQEHORZ
$QGSOHDVHDYRLGFRQWLQXDWLRQXVHQHDUDOLPLW
*HQHUDOO\XQGHUKLJKWHPSHUDWXUHRUKLJKKXPLGLW\GHWHULRUDWLRQRIHOHFWURQLF
SDUWVDFFHOHUDWHV
7RHQVXUHUHOLDELOLW\SOHDVHYHULI\TXDOLW\XQGHUFRQGLWLRQVRIDFWXDOXVH
7KLVKXPLGLW\UDQJHGRHVQRWJXDUDQWHHGXUDELOLW\DELOLW\
0RXQWLQJ
8VHODQGVRQWKHSULQWHGFLUFXLWERDUGVWRZKLFKWKHVHQVRUFDQEHVHFXUHO\IL[HG
5HFRPPHQGHGSULQWHGFLUFXLWERDUGLV)5WKLFNQHVVPP
$VIRUPRXQWLQJXQUHFRPPHQGHGSULQWHGFLUFXLWERDUG3OHDVHYHULI\TXDOLW\LQDGYDQFH
0DOIXQFWLRQLQJPD\RFFXULIPXFKQRLVHLVSUHVHQWLQWKHSRZHUVXSSO\XVHGIRU
WKLVVHQVRU,QRUGHUWRSUHYHQWLQSDUWLFXODUVXSHULPSRVHGQRLVHSOHDVH
LQVWDOOWKHUHFRPPHQGHGFDSDFLWRUEHWZHHQWKHVHQVRULQSXWWHUPLQDOVEHWZHHQ9''
DQG*1'FORVHVWWRWKHVHQVRUDSRVLWLRQZLWKLQPPRIWKHSDWWHUQFLUFXLWOHQJWK
+RZHYHUSOHDVHUHVHOHFWDQLGHDOFDSDFLWRUDIWHUSHUIRUPLQJWHVWVRQWKHDFWXDO
HTXLSPHQW
6LQFHWKHWRSVXUIDFHZKHUHWKHSDUWQXPEHULVYLVLEOHRIWKHVHQVRULV*1'
SOHDVHPDNHVXUHWKDWWKHPHWDOOLFSDUWVRIRWKHUFRPSRQHQWVGRQRWFRPHLQWRFRQWDFW
6ROGHULQJ
'XHWRWKHWKHUPDOFDSDFLW\RIWKHLQIUDUHGDUUD\VHQVRULVORZWKHUHIRUHWDNHVWHSV
WRPLQLPL]HWKHHIIHFWVRIH[WHUQDOKHDW'DPDJHDQGFKDQJHVWRFKDUDFWHULVWLFVPD\
RFFXUGXHWRKHDWGHIRUPDWLRQ
8VHDQRQFRUURVLYHUHVLQW\SHRIIOX[
 0DQXDOVROGHULQJ
6HWWKHVROGHULQJWLSIURPWRΥ:DQGVROGHUZLWKLQVHFRQGVRUOHVV
3OHDVHQRWHWKDWRXWSXWPD\EHFKDQJHGLIWKHORDGLVDSSOLHGWRWKHWHUPLQDOV
ZKHQWKHVROGHULQJ
&DUHIXOO\FOHDQWKHWLSRIVROGHULQJLURQ



+LJKJDLQW\SH
$0*$0*
/RZJDLQW\SH
$0*$0*
$PELHQWWH
PSHUDWXUH
Υ

+XPLGLW\
5+
$YRLG
IUHH]LQJ
ZKHQXVHGDW
WHPSHUDWXUHV
ORZHU WKDQ
7ROHUDQFHUDQJH


+XPLGLW\
5+
7ROHUDQFHUDQJH
$PELHQWWHPSHUDWXUH
Υ
$YRLG
FRQGHQVDWLRQ
ZKHQXVHGDW
WHPSHUDWXUHV
$YRLG
FRQGHQVDWLRQ
ZKHQXVHGDW
WHPSHUDWXUHV
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
 5HIORZVROGHULQJ
7KHUHFRPPHQGHGUHIORZWHPSHUDWXUHSURILOHFRQGLWLRQVDUHJLYHQEHORZ
:HUHFRPPHQGWKHVFUHHQVROGHUSULQWLQJPHWKRGDVWKHPHWKRGRIFUHDP
3OHDVHUHIHUWRWKHUHFRPPHQGHG3&ERDUGVSHFLILFDWLRQGLDJUDPIRUWKH3&
ERDUGIRRWSDWWHUQ
6HOIDOLJQPHQWPD\QRWDOZD\VZRUNDVH[SHFWHGWKHUHIRUHSOHDVHFDUHIXOO\
WKHSRVLWLRQRIWKHWHUPLQDOVDQGSDWWHUQ
7KHWHPSHUDWXUHRIWKHSURILOHLVDVVXPHGWREHDYDOXHPHDVXUHGZLWKWKH
SULQWHGZLULQJERDUGRIWKHWHUPLQDOQHLJKERUKRRG
:KHQ\RXGRWKHUHIORZVROGHUWRWKHEDFNRIWKH3&ERDUGDIWHUWKHUHIORZRI
WKHVHQVRUSOHDVHH[HFXWHIL[HGSURFHVVLQJIRULQVWDQFHZLWKWKHDGKHVLYHHWF
 6ROGHUUHZRUNLQJ
)LQLVKUHZRUNLQJLQRQHRSHUDWLRQ
)RUUHZRUNLQJRIWKHVROGHUEULGJHXVHDVROGHULQJLURQZLWKDIODWWLS
3OHDVHGRQRWDGGPRUHIOX[ZKHQUHZRUNLQJ
7KHWHPSHUDWXUHRIWKHVROGHULQJWLSPXVWEHXQGHUWKHDERYHPHQWLRQHGWHPSHUDWXUH
 :KHQ\RXFXWRUIROGWKH3&ERDUGDIWHUPRXQWLQJWKHVHQVRUEHFDUHIXOQRWWR
VWUHVVWRWKHVROGHUHGSDUWV
 7KHVHQVRUWHUPLQDOVDUHGHVLJQHGWREHH[SRVHGVRFRQWDFWRIWKHWHUPLQDOVZLWK
PHWDOVKDUGVDQGWKHOLNHZLOOFDXVHRXWSXWHUURUV7KHUHIRUHSOHDVHEHFDUHIXO
QRWWRWRXFKWKHWHUPLQDOVZLWKWKHPHWDOSLHFHRUWKHKDQG
 7RSUHYHQWWKHLQVXODWLRQRIWKH3&ERDUGDIWHUVROGHULQJSOHDVHEHFDUHIXO
QRWWRSODFHWKHFKHPLFDOVRQWKHVHQVRUZKHQFRDWLQJ

7
7
7
7LPH
7Υ
7Υ
7:LWKLQΥ
WVHFRQGV
W:LWKLQVHFRQGV
3HDNWHPSHUDWXUH
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
&RQQHFWLRQV
3OHDVHSHUIRUPFRQQHFWLRQVFRUUHFWO\LQDFFRUGDQFHZLWKWKHWHUPLQDOFRQQHFWLRQ
GLDJUDP,QSDUWLFXODUEHFDUHIXOQRWWRUHYHUVHZLUHWKHSRZHUVXSSO\DVWKLV
ZLOOFDXVHGDPDJHRUGHJUDGHWRWKHVHQVRU
3OHDVHGRQRWFRQQHFWZLUHVLQDQHPSW\WHUPLQDO,WFDXVHVWKHVHQVRUEUHDNGRZQ
:KHQXVLQJWKHVHQVRUVZLWKFDEOHVLWLVUHFRPPHQGHGWKDWFDEOHVZKLFKDUHVKLHOGHG
DQGDVVKRUWDVSRVVLEOHEHXVHGLQRUGHUWRVDIHJXDUGDJDLQVWWKHHIIHFWVRIQRLVH
&OHDQLQJ
$YRLGXOWUDVRQLFFOHDQLQJVLQFHWKLVPD\FDXVHEUHDNVRUGLVFRQQHFWLRQVLQWKH
ZLULQJ
7UDQVSRUWDWLRQDQGVWRUDJH
([WUHPHYLEUDWLRQDQGVKRFNGXULQJWUDQVSRUWZLOOGDPDJHWKHVHQVRU
+DQGOHWKHRXWHUER[DQGUHHOZLWKFDUH
6WRUDJHXQGHUH[WUHPHFRQGLWLRQVZLOOFDXVHVROGHULQJGHJUDGDWLRQH[WHUQDODSSHDUDQFH
GHIHFWVDQGGHWHULRUDWLRQRIWKHFKDUDFWHULVWLFV
7KHIROORZLQJVWRUDJHFRQGLWLRQVDUHUHFRPPHQGHG
7HPSHUDWXUHWRΥ
+XPLGLW\OHVVWKDQ5+
$WPRVSKHUH1RKDUPIXOJDVVHVVXFKDVVXOIXURXVDFLGJDVPLQLPDOGXVW
7KHVHQVRUVDUHVHQVLWLYHWRPRLVWXUHDQGFRPHLQPRLVWXUHSURRISDFNDJHV
2EVHUYHWKHIROORZLQJFDXWLRQVZKHQVWRULQJ
$IWHUWKHPRLVWXUHSURRISDFNDJHLVXQVHDOHGWDNHWKHVHQVRUVRXWRIVWRUDJH
DVVRRQDVSRVVLEOHZLWKLQZHHNӌΥ5+
,IWKHVHQVRUVDUHWREHOHIWLQVWRUDJHIRUDFRQVLGHUDEOHSHULRGDIWHUWKH
PRLVWXUHSURRISDFNDJHKDVEHHQXQVHDOHGLWLVUHFRPPHQGHGWRNHHSWKHPLQ
DQRWKHUPRLVWXUHSURRIEDJFRQWDLQLQJVLOLFDJHOZLWKLQPRQWKVDWWKHPRVW
:KHQPRXQWLQJZLWKVROGHULIWKHUPDOVWUHVVLVDSSOLHGWRVHQVRUVWKDWKDYH
DEVRUEHGPRLVWXUHWKHPRLVWXUHZLOOYDSRUL]HVZHOOLQJZLOORFFXUDQGWKHLQVLGH
RIWKHSDFNDJHZLOOEHFRPHVWUHVVHG7KLVPD\FDXVHWKHSDFNDJHVXUIDFHWREOLVWHU
RUFUDFN7KHUHIRUHSOHDVHWDNHFDXWLRQDQGREVHUYHWKHVROGHULQJFRQGLWLRQV
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
2WKHUKDQGOLQJFDXWLRQV
7RDVVXUHUHOLDELOLW\FKHFNWKHVHQVRUXQGHUDFWXDOORDGLQJFRQGLWLRQV
$YRLGDQ\VLWXDWLRQWKDWPD\DGYHUVHO\DIIHFWLWVSHUIRUPDQFH
7KLVSURGXFWPD\PDOIXQFWLRQLIGURSSHGRQLWVRZQEHIRUHLWLVLQVWDOOHG
'RQRWXVHLIWKLVKDSSHQV
&DXWLRQLVUHTXLUHGEHFDXVHZULWLQJH[FHSWIRUUHJLVWHUDQGELWVSHFLILHGLQ
FDQEHFDXVHRIPDOIXQFWLRQDQGSHUIRUPDQFHGHJUDGDWLRQ
&DXWLRQLVUHTXLUHGEHFDXVHGLIIHUHQFHVLQWKHWHPSHUDWXUHUDQJHDQGWKHPHWKRG
RIFRQQHFWLRQFDQOHDGWREUHDNGRZQ
,IWKHVHQVRUJHWKLJKIUHTXHQF\YLEUDWLRQLWFDQEHFDXVHRIEUHDNGRZQ
:KHQWKHSURGXFWJHWLPSXOVHOLNHEHORZGRQRWXVHLW
ձWRXFKWRDREMHFWPDGHRIPHWDO
ղWRXFKRIPXWXDOVHQVRUV
6LQFHVWDWLFFKDUJHFDQGDPDJHWKHVHQVRUEHDULQPLQGWKHIROORZLQJKDQGOLQJ
SUHFDXWLRQV
ձ3ODVWLFFRQWDLQHUVVKRXOGQRWEHXVHGWRVWRUHRUWUDQVSRUWWKHVHQVRUV
VLQFHWKH\UHDGLO\EHFRPHFKDUJHG
ղ3OHDVHVWRUHRUWUDQVSRUWWKHSURGXFWLQDQHQYLURQPHQWWKDWKLQGHUVWKH
RFFXUUHQFHRIVWDWLFHOHFWULFLW\IRUH[DPSOHSODFHVZLWKWRKXPLGLW\
DQGSURWHFWWKHSURGXFWXVLQJHOHFWULFDOO\FRQGXFWLYHSDFNDJLQJ
ճ,PSOHPHQWVWDWLFHOHFWULFLW\SUHYHQWLRQPHDVXUHVRQFHWKHSURGXFWSDFNDJLQJ
KDVEHHQRSHQHG
$Q\SHUVRQQHOKDQGOLQJWKHVHQVRUVKRXOGZHDUHOHFWURVWDWLFFORWKLQJDQGEH
ERG\JURXQGHG
3ODFHDQHOHFWULFDOO\FRQGXFWLQJERDUGRQWKHZRUNVXUIDFHDQGJURXQGDQ\GHYLFHV
XVHGVXFKDVPHDVXULQJLQVWUXPHQWVDQGMLJV
8VHDVROGHULQJLURQZLWKDORZOHDNFXUUHQWRUHOVHJURXQGWKHWLS
0DNHVXUHWKDWFXVWRPHUHTXLSPHQWXVHGIRUGHYLFHDVVHPEO\LVJURXQGHG
մ6LQFHWKHLQWHUQDOFLUFXLWU\PD\EHGHVWUR\HGLIDQH[WHUQDOVXUJHYROWDJHLV
VXSSOLHGSURYLGHDQHOHPHQWZKLFKZLOODEVRUEWKHVXUJHV
REFERENCE ONLY
7,7/( 63(&,),&$7,216)25,QIUDUHG$UUD\6HQVRU 3$*(
1$0( ,QIUDUHG$UUD\6HQVRU*ULG(<( $0*
'$7($XJ
3$1$621,&(/(&75,&:25.6/7' 6:,7&+,1*'(9,&(',9,6,21
6SHFLDOUHPDUNV
$OWKRXJKWKHEHVWDWWHQWLRQZLOOEHSDLGIRUWKHTXDOLW\FRQWUROVRIWKHSURGXFWV
SOHDVHFRQVLGHUWKHIROORZLQJV
7RSUHYHQWXQH[SHFWHGIDLOXUHVDVPXFKDVSRVVLEOHXQGHUWKHFRQGLWLRQVQRWVKRZQ
LQ WKLV VSHFLILFDWLRQV SOHDVH OHW XV NQRZ WKH GHWDLOHG LQIRUPDWLRQ RQ WKH
DSSOLFDWLRQVXFKDVWKHHQYLURQPHQWDORSHUDWLRQDODQGPRXQWLQJFRQGLWLRQ
%\DQ\FKDQFHLIWKHIDLOXUHRIWKHSURGXFWLVFRQVLGHUHGWRFDXVHDSHUVRQDOLQMXU\
RUGHDWKRUSURSHUW\GDPDJHWKHVDIHW\UDWHVKRXOGEHDGGHGWRWKHVSHFLILHGYDOXHV
VKRZQLQWKLVVSHFLILFDWLRQVDQGWKHGXDOVDIHW\VWUXFWXUHRUFLUFXLWLVUHFRPPHQGHG
WREHWDNHQIURPWKHVWDQGSRLQWRIWKH3URGXFW/LDELOLW\,QGHPQLW\
:HZLOOHLWKHUUHSDLURUUHSODFHDQ\SURGXFWVRUSDUWVWKHUHRIZKLFKSURYHWREH
GHIHFWLYHDJDLQVWRQO\WKHLWHPVZULWWHQLQWKLVVSHFLILFDWLRQVZLWKLQ\HDUIURP
WKHGDWHRISURGXFWVDFFHSWDQFHDWWKHVLWHRIGHOLYHU\
)ROORZLQJFDVHVDUHQRWFRYHUHGE\WKLVJXDUDQWHH
ձ7KHFDVHRIRWKHUGDPDJHFDXVHGE\WKHIDLOXUHRUGHIHFWRIWKHSURGXFW
ղ7KH FDVH WKDW WKH SURGXFW FRQGLWLRQ FKDQJHG E\ KDQGOLQJ VWRUDJH DQGRU
WUDQVSRUWDWLRQDIWHUGHOLYHU\
ճ7KHFDVHFDXVHGE\WKHSKHQRPHQRQZKLFKKDVQHYHUEHHQGLVFRYHUHGDQGLVLPSRVVLEOH
WREHIRUHNQRZQZLWKWKHH[LVWLQJWHFKQRORJLHV
մ7KHFDVHRIIRUFHPDMHXUHVXFKDVDFWVRI*RGSXEOLFHQHP\RUZDUILUHVIORRGV
DQGDQ\RWKHUFDXVHVEH\RQGWKHFRQWURORIWKHSHRSOHFRQFHUQHG
([SRUWFRQWURO
7R&XVWRPHUVLQ-DSDQ
7KLVSURGXFWLVUHVWULFWHGXQGHU-DSDQʼV)RUHLJQ([FKDQJHDQG)RUHLJQ7UDGH/DZ
$QH[SRUWSHUPLWIURPWKH-DSDQHVHJRYHUQPHQWLVUHTXLUHGZKHQ\RXH[SRUWRUWDNHWKLV
SURGXFWRXWVLGH-DSDQ$VRI$SU
7KLVSURGXFWPD\QRWEHXVHGIRUDQ\SXUSRVHRWKHUWKDQWKRVHVSHFLILHG
5HVHOOLQJWKHSURGXFWWRWKLUGSDUWLHVLVSURKLELWHG
:KHQGLVSRVLQJRIWKHSURGXFWLWPXVWILUVWEHFRQYHUWHGLQWRQRQUHXVDEOHDQG
QRQFRQWUROOHGIRUP
7R&XVWRPHUV2XWVLGH-DSDQ
7KLVSURGXFWLVUHVWULFWHGXQGHU-DSDQʼVODZVDQGUHJXODWLRQVUHODWLQJWRVHFXULW\H[SRUW
FRQWURO)RUHLJQ([FKDQJHDQG)RUHLJQ7UDGH/DZ
:HKDYHREWDLQHGDQH[SRUWSHUPLWIURPWKH-DSDQHVHJRYHUQPHQWWRVHOORUSURYLGHWKLVSURGXFW
WR\RXUFRPSDQ\VXEMHFWWRWKHIROORZLQJ
7KLVSURGXFWPD\QRWEHXVHGIRUDQ\SXUSRVHRWKHUWKDQWKRVHVSHFLILHG
7KLVSURGXFWPD\EHVXEMHFWWRIXUWKHUH[SRUWUHVWULFWLRQVXQGHUWKHODZVDQGUHJXODWLRQV
RIRWKHUFRXQWULHVLQFOXGLQJ\RXURZQ
5HVHOOLQJWKHSURGXFWWRWKLUGSDUWLHVLVSURKLELWHG
:KHQ GLVSRVLQJ RI WKH SURGXFW LW PXVW ILUVW EH FRQYHUWHG LQWR QRQUHXVDEOH DQG
QRQFRQWUROOHGIRUP
REFERENCE ONLY