„µ¦˜·—˜´ÊŠ ,QVWDOODWLRQ

6ROLG:RUNV‡º° °³Å¦ "

6ROLG:RUNVíÁž}œŽ°¢˜mª¦r Ž¹ŠÉ šÎµ Ä®o„µ¦°°„Á‡¦º°É Š„¨ ®¦º°Ÿ¨·˜£´–”r Áž}œÅžÅ—o°¥nµŠ

°´˜Ãœ¤´˜·¡¦o°¤š´ÊŠÅ—oœµÎ Á°µ…o°Å—oÁž¦¸¥…°Š 0LFURVRIWí:LQGRZVíĜ­nªœš¸ÁÉ „¸¥É ª„´„µ¦˜·—˜n°„´
Ÿ¼očo „µ¦š¸É6ROLG:RUNVíÁž}œŽ°¢šmª¦ršÁ¸É ¦¸¥œ¦¼Åo —oŠµn ¥ ‹¹ŠšÎµ Ä®oœ„´ °°„Á‡¦ºÉ°Š„¨®¦º°
Ÿ¨·˜£´–”r­µ¤µ¦™™nµ¥š°—‡ªµ¤‡·—­¦oµŠ­¦¦‡r°°„¤µÁž}œäÁ—¨˜oœÂ¤·˜·¡¦o°¤…œµ—™¼„
˜o°Š¨³­¦oµŠGUDZLQJ¡¦o°¤¦µ¥¨³Á°¸¥—˜nµŠÇŗošœ´ š¸

®œ´Š­º° *HWWLQJ6WDUWHGœ¸Ê ‹³Å—o„¨nµª™¹Š®¨´„„µ¦¡ºœÊ “µœµŠ­nªœ ¨³™o°¥‡Îµ š¸™É „¼ čošŠ´Ê ®¤—Äœ

6ROLG:RUNVŽ¹ŠÉ ŗo‹´—®µÂ f„®´—Á¡ºÉ°„µ¦Á¦¸¥œ¦¼Äo œ„µ¦­¦oµŠ·œÊ ­nªœSDUWGUDZLQJV
¨³ „µ¦ž¦³„°·Êœ­nªœDVVHPEOLHV¦ª¤Åž™¹Š„µ¦Âœ³œÎµ IHDWXUHVš¸ÄÉ ož¦³‹Îµ Á¡ºÉ°„µ¦°°„
Á‡¦º°É Š„¨®¦º°Ÿ¨·˜£´–”rŽ¹ÉŠ‹³œÎµ ¤µŽ¹ÉŠ‡ªµ¤­³—ª„¦ª—Á¦Èª

Ĝšœ¸‹Ê ³¤¸®ª´ …o°˜nµŠÇ—´Š˜n°Åžœ¸Ê

‰ ¦³š¸˜ É °o Š„µ¦­Îµ®¦´„µ¦˜·—˜´ŠÊ ¨³„µ¦ÄoŠµœŽ°¢˜mª¦r 6ROLG:RUNV
‰ „µ¦˜·—˜´Š Ê Ž°¢˜mª¦r 6ROLG:RUNV
‰ »—ž¦´ž¦»ŠŽ°¢šmª¦r6ROLG:RUNVVHUYLFHSDFNV

‰ ÁªÈÅŽšr 6ROLG:RUNV


0DVWHULQJWKH%DVLFV

„µ¦Á˜¦¸¥¤­Îµ®¦´„µ¦˜·—˜´ÊŠŽ°¢˜mª¦r 6ROLG:RUNV

…o°¤¼¨š¸É˜o°Šš¦µ„n°œ„µ¦˜·—˜´ÊŠ
„n°œš¸‡É –
» ‹³˜·—˜´ŠÊ 6ROLG:RUNV™oµ‡»–Å—ošµÎ „µ¦Áž¨¸¥É œÂž¨ŠÂ„oŅÁ„¸É¥ª„´ SDOHWWHGUDZLQJ
WHPSODWHV®¦º° PDWHULDOV …°Š 3KRWR:RUNVĜ 6ROLG:RUNV ¦¸¨¸­š¸É¤°¸ ¥¼„n °n œ‡»–‡ª¦‹³šÎµ „µ¦ÁŽ¢
­Îµ Áœµ EDFNXS…°ŠÅ¢¨mÁ®¨nµœ¸Ê ŪoĜâ¨mÁ—°¦rš‹¸É ³Å¤n­¼®µ¥®¦º°™¼„Á…¸¥œš´¦³®ªnµŠšÎµ „µ¦˜·—˜´ŠÊ

˜´ª :L]DUG­Îµ ®¦´„µ¦˜·—˜´ŠÊ 6ROLG:RUNV‹µ„ &'520‹³™µ¤™¹Š…o°¤¼¨˜nµŠÇ„´‡»–—´Šœ¸Ê 

‰ 6ROLG:RUNV6HULDO1XPEHU

x ­Îµ ®¦´¨¼„‡oµÄ®¤n…°Š 6ROLG:RUNV®¦º°¨¼„‡oµš¸ÅÉ ¤n¤„¸ µ¦ŽºÊ° VXEVFULSWLRQ ˜´ª VHULDO

QXPEHU‹³°¥¼n œ„¨n°ŠŽ¹ÉŠ¦¦‹»Ž°¢˜mª¦r 6ROLG:RUNV…°Š‡»–
x ­Îµ ®¦´¨¼„‡oµš¸¤É ¸6XEVFULSWLRQ‹³¥´Š‡ŠÄo VHULDOQXPEHUš¸°É ¥¼n œ„¨n°ŠÄ­nŸnœ &' š¸É
ŗo¤µ˜°œŽºÊ°‡¦´ÊŠÂ¦„
‰ 6ROLG:RUNV5HJLVWUDWLRQ&RGH ¦®´­š¸É‹³šÎµ Ä®o­µ¤µ¦™Äo6ROLG:RUNVŗo˜¨°—ÅžŽ¹ÉŠ‹³Å—o®¨´Š‹µ„šÎµ
„µ¦¨Šš³Á¸¥œ¨¼„‡oµÂ¨oª
x ™oµ‡»–Áž}œ¨¼„‡oµš¸ŽÉ ºÊ° VXEVFULSWLRQ …°Š 6ROLG:RUNV˜´ª UHJLVWUDWLRQZL]DUG‹³­¦oµŠ
¦®´­Ĝ¦³®ªnµŠ„µ¦˜·—˜´ŠÊ 6ROLG:RUNV Ä®o°´˜Ãœ¤´˜·
x ™oµ‡»–Áž}œ¨¼„‡oµÄ®¤n…°Š 6ROLG:RUNV‡»–‹³™¼„…°Ä®o„¦°„…o°¤¼¨…°ŠŸ¼očo¨ŠÄœÂ¢°¦r¤
Á¡º°É šÎµ „µ¦¨Šš³Á¸¥œ ¦³®ªnµŠš¸˜É —· ˜´ŠÊ ‡»–­µ¤µ¦™¨Šš³Á¸¥œšµŠ HPDLO®¦º°
¢„ŽrŞ¥´Š¦·¬´š 6ROLG:RUNV ®¨´Š‹µ„œ´ÊœÅ¤n„ª¸É ´œ‡»–‹³Å—o¦´ 5HJLVWUDWLRQ&RGH
­nŠ„¨´¤µš¸É HPDLO®¦º°Â¢„Žr š´ŠÊ œ¸‡Ê – » ‹³¤¸Áª¨µª´œÁ¡ºÉ°ÄoŸ¨·˜£´–”rץŤn¤¸
5HJLVWUDWLRQ&RGH
‰ 6HULDOQXPEHUVIRUDGGLQVRIWZDUH™oµ‡»–ŽºÊ°Ž°¢šmª¦rÁ­¦·¤…°Š6ROLG:RUNV®œ¹ŠÉ °¥nµŠ
®¦º°¤µ„„ªnµ ‡»–‹³Å—oVHULDOQXPEHU­Îµ ®¦´Ž°¢šmª¦rÁ­¦·¤œ´Êœ¤µ—oª¥ Ž¹ÉŠ°¥¼n œ„¨n°ŠÄ­nŸnœ
&'
‰ $OORZRUGLVDOORZPRGHOFKDQJHVIURPGUDZLQJ‡»–‹³¡˜´ªÁ¨º°„œ¸ÊĜ…–³˜·—˜´ŠÊ Ĝ‡ªµ¤
®¤µ¥‡º°Ÿ¼očo­µ¤µ¦™Á¨º°„Å—oªnµ‹³Ä®o¤„¸ µ¦ž¦´ž¦»Š…o°¤¼¨ĜSDUW ®¦º°DVVHPEO\®¦º°Å¤n®µ„
šÎµ „µ¦Áž¨¸É¥œÂž¨Š…œµ—ÄœGUDZLQJ ‡»–‹³˜o°Š¨ŠŽ°¢˜mª¦r 6ROLG:RUNV°¸„‡¦´ŠÊ Á¡ºÉ°Áž¨¸É¥œ
ž¨Š˜´ªÁ¨º°„ œ¸Ê ­Îµ ®¦´‡nµGHIDXOW¨³FRQILJXUDWLRQ š´ªÉ ÇŞ­iªœÄ®n‹³¥°¤Ä®o¤¸„µ¦
Áž¨¸É¥œÂž¨ŠSDUW¨³ DVVHPEO\GLPHQVLRQV‹µ„GUDZLQJ


 šš¸É„µ¦˜·—˜´ŠÊ

ª·›„¸ µ¦˜·—˜´ÊŠ
„µ¦˜·—˜´ŠÊ ­µ¤µ¦™šÎµÅ—o®¨µ¥Â ‡º° LQGLYLGXDOFOLHQW VHUYHU FOLHQWDQGVHUYHU…´œÊ ˜°œ„µ¦
˜·—˜´ŠÊ ­Îµ ®¦´ LQGLYLGXDO®¦º° VHUYHUœ´œÊ ‹³‡¨oµ¥Ç„´œ¤oªµn µŠ‡Îµ ™µ¤š¸É™„¼ ™µ¤¦³®ªnµŠ„µ¦šÎµ „µ¦
˜·—˜´ŠÊ ‹³Â˜„˜nµŠ°°„Åž
‰ ,QGLYLGXDOLQVWDOODWLRQ

„µ¦˜·—˜´ŠÊ œ¸ÁÊ ž}œ„µ¦˜·—˜´ŠÊ ­Îµ ®¦´‡°¤¡·ªÁ˜°¦rŽ¹ÉŠ‹³šÎµ Šµœ 6ROLG:RUNV—oª¥®œnª¥

‡ªµ¤‹Îµ ¨³ KDUGGULYH…°Š˜´ªÁ‡¦ºÉ°ŠÁ°ŠÂ¨³‹³Å¤n­µ¤µ¦™Â¦rÅ¢¨mš¸ÉšµÎ Á­¦È‹Åž¥´Š
‡°¤¡·ªÁ˜°¦rÁ‡¦º°É Š°ºÉœÇŗo Ťnªnµ‹³°¥¼nĜ QHWZRUN®¦º°Å¤n„˜È µ¤
ª·›¸šµÎ Ä­n &'520…°Š6ROLG:RUNVĜn°Š &'GULYH…°Š‡°¤¡·ªÁ˜°¦r¨³šÎµ
˜µ¤…´œÊ ˜°œ‹µ„˜´ª ZL]DUG˜·—˜´ŠÊ
‡»–˜o°Šš¦µ VHULDOQXPEHU¨³ UHJLVWUDWLRQFRGH
‰ „µ¦˜·—˜´ÊŠÂ6HUYHURQO\

„µ¦˜·—˜´ŠÊ œ¸ÁÊ ž}œ„µ¦˜·—˜´ŠÊ ­Îµ ®¦´‡°¤¡·ªÁ˜°¦rŽ¹ÉŠ‹³Å¤nšµÎ Šµœ 6ROLG:RUNVœÁ‡¦ºÉ°Š

˜´ªÁ°Š ˜n‹³Áž}œŸ¼oÄ®o¦·„µ¦„µ¦ÄoŠµœ6ROLG:RUNV „nÁ‡¦º°É Šš¸É˜·—˜´ŠÊ 6ROLG:RUNV
FOLHQW˜´ª®¦º°¤µ„„ªnµ ‡»–‹³˜o°ŠšÎµ „µ¦˜·—˜´ŠÊ °¸„‡¦´ŠÊ ™oµ‡»–˜o°Š„µ¦Áž¨¸É¥œ
VHOHFWLRQœ¸Ê Á„¸¥É ª„´ ˜´ªÁ¨º°„ œ¸Ê ˜´ª VHUYHUŤn‹Îµ Áž}œ˜o°Š¤¸OLFHQVHÁ¡º°É šÎµ „µ¦¦´œÂ°¡¡¨·
Á‡´œ…°Š6ROLG:RUNV˜nFOLHQW˜n¨³Á‡¦ºÉ°Š˜o°Š¤¸ OLFHQVH
„µ¦˜·—˜´ŠÊ œ¸‡Ê ª¦šÎµÃ—¥Ÿ¼—o ¼ ¨¦³Á‡¦º°…nµ¥…°Š°Š‡r„¦ QHWZRUNDGPLQLVWUDWRU ®¦º°Ÿ¼šo ¤¸É ž¸ ¦³­
„µ¦–rĜ„µ¦šÎµ ŠµœÁ„¸¥É ª„´ QHWZRUNVHUYHU

…o°­´ŠÁ„˜­Îµ ®¦´ VHUYHU¨³ FOLHQWV‹³˜o°ŠÁž}œ SODWIRUPÁ—¸¥ª„´œ „µ¦˜·—˜´ŠÊ ŗoŤn­µ¤µ¦™šÎµ

…oµ¤SODWIRUPŗo „n°œ„µ¦Á¦·¤É ˜oœšÎµ „µ¦˜·—˜´ŠÊ ‡°¤¡·ªÁ˜°¦r 6ROLG:RUNV VHUYHU­·ŠÉ š¸É
­Îµ ‡´¤µ„‡º°˜o°ŠÂœnċªnµÅ¤n¤¸ 6ROLG:RUNVFOLHQW„ε ¨´ŠšÎµ Šµœ°¥¼n
ª·›¸šµÎ Ä­n &'520…°Š 6ROLG:RUNVĜ&'GULYH…°Š‡°¤¡·ªÁ˜°¦r¨³šÎµ ˜µ¤…´Êœ
˜°œ‹µ„˜´ª ZL]DUG˜·—˜´ŠÊ
Ťn¤¸ VHULDOQXPEHU®¦º° FRGHĜ„µ¦¨Šš³Á¸¥œ­Îµ ®¦´‡°¤¡·ªÁ˜°¦ršš¸É µÎ ®œoµš¸ÁÉ ž}œ VHUYHU
®¨´Š‹µ„„µ¦˜·—˜´ŠÊ ˜o°ŠšÎµÄ®oœnċªnµÃ¢¨Á—°¦rš¸É ¦¦‹» 6ROLG:RUNVš¸˜É —· ˜´ŠÊ œ´œÊ ™¼„¦r¨³
­µ¤µ¦™™¼„Á…oµ™¹ŠÅ—o×¥‡°¤¡·ªÁ˜°¦ršÁ¸É ž}œ FOLHQWœ QHWZRUN
‰ 6HUYHUDQG&OLHQW,QVWDOODWLRQ„µ¦˜·—˜´Š Ê œ¸­Ê µÎ ®¦´‡°¤¡·ªÁ˜°¦rŽ¹ÉŠ‹³¦´œ6ROLG:RUNV
—oª¥˜´ªÁ°Š¨³‹³šÎµ ®œoµš¸ÁÉ ®¤º°œÁž}œ VHUYHUšÎµ „µ¦Â¦r 6ROLG:RUNVš¸¤É ˜¸ —· ˜´ŠÊ ¨oªÄ®o„´
‡°¤¡·ªÁ˜°¦ršÁ¸É ž}œ FOLHQW˜´ª®¦º°¤µ„„ªnµ
ª·›¸šµÎ Ä­n &'520…°Š6ROLG:RUNVĜ&'GULYH…°Š…°Š‡°¤¡·ªÁ˜°¦r¨³šÎµ
˜µ¤…´œÊ ˜°œ‹µ„˜´ª ZL]DUG˜·—˜´ŠÊ
‡»–˜o°Šš¦µ VHULDOQXPEHU¨³ UHJLVWUDWLRQFRGH
®¨´Š‹µ„„µ¦˜·—˜´ŠÊ ˜o°ŠšÎµÄ®oœnċªnµÃ¢¨Á—°¦rš¸É ¦¦‹» 6ROLG:RUNVš¸˜É —· ˜´ŠÊ œ´œÊ ™¼„¦r¨³
­µ¤µ¦™Á…oµ™¹Š‡°¤¡·ªÁ˜°¦ršÁ¸É ž}œ FOLHQWœ QHWZRUN


0DVWHULQJWKH%DVLFV

‰ &OLHQWLQVWDOODWLRQ‡°¤¡·ªÁ˜°¦rš‹¸É ³¦´œŽ°¢˜mª¦r 6ROLG:RUNV‹µ„ VHUYHU

‹³Å¤n¤¸Å¢¨mš¸É¦œ´ 6ROLG:RUNVH[HFXWDEOH H[HŗoœÁ‡¦ºÉ°ŠÂFOLHQW

„µ¦˜·—˜´ÊŠ 6ROLG:RUNVFOLHQW
 ˜o°ŠÂœnċªnµÅ—o˜—· ˜´ÊŠÂ VHUYHU¨Šœ‡°¤¡·ªÁ˜°¦r š¸‹É ³Áž}œVHUYHUÁ¦¸¥¦o°¥Â¨oª
¨³˜o°Š¤´ÉœÄ‹ªnµÃ¢¨Á—°¦rš¸É¦¦‹»„µ¦˜·—˜´ŠÊ 6ROLG:RUNVœ´œÊ ŗo™„¼ ¦r¨³­µ¤µ¦™Á…oµ™¹ŠÅ—o×¥
‡°¤¡·ªÁ˜°¦ršÁ¸É ž}œ FOLHQW Ĝ QHWZRUN
 œ‡°¤¡·ªÁ˜°¦ršÁ¸É ž}œ FOLHQW šÎµ „µ¦EURZVHĜ QHWZRUNŞ¥´ŠÃ¢¨Á—°¦r VHWXS?L £µ¥Ä˜o
â¨Á—°¦rš˜¸É —· ˜´ŠÊ 6ROLG:RUNV­Îµ ®¦´œ VHUYHU
 —´Á·¨‡¨·„š¸É VHWXSH[H
 ˜´ª˜·—˜´ŠÊ ZL]DUG‹³Âœ³œÎµ‡»–×¥‹³¤¸…´Êœ˜°œy…´œÊ ˜°œÁ¡ºÉ°šÎµ Ä®o„µ¦˜·—˜´ŠÊ FOLHQW ­¤¼¦–r

127(
®¨´Š‹µ„„µ¦˜·—˜´ŠÊ Á¡º°É Á¦¸¥œ¦¼Áo „¸É¥ª„´¢{Š„r´œÄ®¤nÇĜ 6ROLG:RUNV‡¨·„š¸É +HOS 
6ROLG:RUNV2QOLQH8VHUuV*XLGHœš¼¨µ¦r®¨´„

6ROLG:RUNV6HUYLFH3DFNV
6ROLG:RUNV6HUYLFH3DFNV ‡º°­nªœ…°ŠŽ°¢šmª¦r6ROLG:RUNVš¸¤É „¸ µ¦ž¦´ž¦»ŠÂ„oŅÁ¡·É¤Á˜·¤
Ĝ¦³®ªnµŠ„µ¦°°„¦¸¨¸­®¨´„Ánœ 6ROLG:RUNV636HUYLFHSDFN
‡»–­µ¤µ¦™—µªœr6ROLG:RUNV VHUYLFHSDFNV ŗo‹µ„ÁªÈÅŽšr…°Š 6ROLG:RUNV
ZZZVROLGZRUNVFRP š´ŠÊ œ¸‹Ê ³˜o°Š°¥¼nĜÁŠºÉ°œÅ…š¸Éªnµ‡»–˜o°ŠÁž}œ¨¼„‡oµš¸ŽÉ ºÊ°VXEVFULSWLRQVHUYLFH
¨¼„‡oµš¸¤É ¸VXEVFULSWLRQVHUYLFH‡º°¨¼„‡oµš¸ŽÉ ºÊ°6ROLG:RUNV»—Ä®¤n‹³¤¸VXEVFULSWLRQVHUYLFH že
Ž¹ŠÉ ‹³Å—o¦´ ºÉ°´¸Â¨³¦®´­ŸnµœÁ¡ºÉ°Á…oµ­¼nÁªÅŽ˜rVROLGZRUNVŗoÁ¡º°É —µªœr…o°¤¼¨˜nµŠÇŗo¤µ„
¤µ¥¦ª¤™¹Š6HUYLFH3DFNV

Á¡º°É ˜¦ª‹­°­Îµ®¦´VHUYLFHSDFNÄ®¤n
 ‡¨·„ +HOS6HUYLFH3DFNV‹³ž¦µ„’GLDORJER[ …°Š6HUYLFH3DFNV …¹Êœ¤µ
 ‡¨·„ &KHFN Ž°¢˜mª¦r‹³˜¦ª‹­°š¸ÉÁªÈÅŽšr…°Š 6ROLG:RUNV:HEVLWHÁ¡º°É šÎµ„µ¦—¼™µo ‡»–¤¸
VHUYLFHSDFN¨nµ­»—‹³™¼„šÎµ „µ¦˜·—˜´ŠÊ
 Á¡º°É ¦´„µ¦˜¦ª‹­°Ž°¢˜mª¦r°´˜Ãœ¤´˜‹· µ„ÁªÈÅŽšr 6ROLG:RUNV‡¦´ŠÊ ®œ¹ŠÉ Ĝ­´ž—µ®r­Îµ ®¦´
VHUYLFHSDFNÄ®¤nšÎµ „µ¦‡¨·„š¸É FKHFNER[ …°Š…o°‡ªµ¤ &KHFNIRUDQHZVHUYLFHSDFN
RQFHDZHHN
 ‡¨·„ 2.Á¡ºÉ°žd— GLDORJER[…°Š 6HUYLFH3DFNV


 šš¸É„µ¦˜·—˜´ŠÊ

„µ¦Á¥¸É¥¤¤ÁªÈÅŽšr 6ROLG:RUNV
™oµ‡°¤¡·ªÁ˜°¦r…°Š‡»–­µ¤µ¦™Á…oµ™¹Š°·œÁ˜°¦rÁœÈ˜Å—o‡»–­µ¤µ¦™Á¥¸¥É ¤¤ÁªÈÅŽšr…°Š 6ROLG:RUNV
ŗo®¨´Š‹µ„š¸É‡–
» šÎµ „µ¦˜·—˜´ŠÊ ‡¦­¤¼¦–r ‡»–­µ¤µ¦™Á¦¸¥œ¦¼¤o µ„…¹ÊœÁ„¸¥É ª„´¦·¬´š 6ROLG:RUNV¨³
Ÿ¨·˜£´–”r×¥šÎµ „µ¦‡¨·„š¸ÉÁ¤œ¼ +HOSœ®œoµ˜nµŠ®¨´„…°Š 6ROLG:RUNV

„µ¦Á…oµÅž¥´ŠÁªÈÅŽšr 6ROLG:RUNV
 ‡¨·„ +HOS$ERXW6ROLG:RUNV
 ‡¨·„ &RQQHFWÁ¡º°É Á¥¸É¥¤¤ÁªÈÅŽšr 6ROLG:RUNV
µŠ®´ª…o°š¸É‡–
» ‹³­µ¤µ¦™¡Å—oĜÁªÈÅŽšr
x1HZVDQG(YHQWV
x7HFKQLFDO6XSSRUW
x9$5VDQG'LVWULEXWRUV
x7KH6ROLG:RUNV'HVLJQ*DOOHU\