+HDOWKFRQGLWLRQ GLVRUGHURUGLVHDVH %RG\IXQFWLRQV DQG VWUXFWXUHV $FWLYLW\ 3DUWLFLSDWLRQ (QYLURQPHQWDO IDFWRUV 3HUVRQDOIDFWRUV
&RXQWU\ 1RUWKWR 6RXWK <HDUV 6DPSOH 6L]H WRQHDUHVW 6DPSOH7\SH $JH *URXS *HQGHU &ODVVLIL FDWLRQ &ULWHULD XVHG 3UHYDOHQFH È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
&RXQWU\ 1RUZD\ 6FRWODQG <HDUV 6DPSOH 6L]H WR QHDUHVW 6DPSOH 7\SH $JH JURXS 3RSXODWLRQ 3RSXODWLRQ *HQGHU &ODVVLILFDWLRQ &ULWHULDXVHG 3UHYDOHQFH 0DOHV (8/$5 )HPDOHV 0DOHV )HPDOHV 2WKHU,QFLGHQFH $JH EDQGV \UV 6ZHGHQ 3RSXODWLRQ %RWK (8/$5 'HQPDUN )LQODQG *HUPDQ\ 8. )UDQFH &OLQLF %RWK 5HJLVWU\ %RWK 2WKHU 3RSXODWLRQ 7XUNH\ 0DOHV (8/$5 )HPDOHV 5HJLVWU\ %RWK (8/$5 3UDFWLWLRQHU %RWK (8/$5 VXUYH\ )LHOG 6XUYH\ %RWK 2WKHU
&RXQWU\ /RFDWLRQ )LQODQG )LQODQG 8. 2UYHVL <HDUV 6DPSOHVL]H $JHJURXS *HQGHU &ODVVLILFDWLRQ &ULWHULDXVHG 0)+6 :HQVOH\GDOH DQG/HLJK 0HQ :RPHQ %RWK 0HQ :RPHQ %RWK 0HQ :RPHQ 8. &KLQJIRUG ± :RPHQ &OLQLFDOGHILQHG2$ &OLQLFDOGHILQHG2$ &OLQLFDOGHILQHG2$.É/SDLQ &OLQLFDOGHILQHG2$.É/SDLQ 6SDLQ 9DULRXV %RWK $PHULFDQ&ROOHJHRI5KHXPDWRORJ\,FHODQG 1XUVLQJ+RPH ± 0HQ :RPHQ $PHULFDQ&ROOHJHRI5KHXPDWRORJ\ &R[DUWKURVLV SUHYDOHQFH ± ± ± ± ± *RQDUWKURVLV SUHYDOHQFH ± ± ± ± ± ± 2$RIWKHK SUHYDOHQFH ±
+HDOWKFRQGLWLRQ GLVRUGHURUGLVHDVH %RG\IXQFWLRQV DQG VWUXFWXUHV $FWLYLW\ 3DUWLFLSDWLRQ (QYLURQPHQWDO IDFWRUV 3HUVRQDOIDFWRUV
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
D3DLQODVWZHHN E3DLQODVWHGIRUWKUHHPRQWKVRUPRUH +HDG 1HFN 6KRXOGHUV 8SSHUEDFN (OERZV :ULVWVKDQGV /RZEDFN +LSVWKLJKV.QHHV $QNOHVIRRWIHHW