*$5$17,(%(',1*81*(1
'HU+HUVWHOOHUEHUQLPPWNHLQH9HUDQWZRUWXQJIUYRP.lXIHUYHUXUVDFKWH7UDQVSRUWVFKlGHQ
'LHVHV*HUlWZXUGHQDFKPRGHUQVWHQ0HWKRGHQKHUJHVWHOOWXQGJHSUIW'HU+HUVWHOOHUOHLVWHWXQDEKlQJLJYRQ
GHU*HVHW]OLFKHQ*HZlKUOHLVWXQJVSIOLFKWGHV9HUNlXIHUV+lQGOHUVIUGLH'DXHUYRQ0RQDWHQJHUHFKQHWYRP
7DJGHV.DXIHVEHLJHZHUEOLFKHU1XW]XQJ0RQDWH*DUDQWLHIUHLQZDQGIUHLHV0DWHULDOXQG)HKOHUIUHLH
)HUWLJXQJ
'HU*DUDQWLHDQVSUXFKHUOLVFKWEHL(LQJULIIHQGXUFKGHQ.lXIHURGHUGXUFK'ULWWH
6FKlGHQGLHGXUFKXQVDFKJHPlVVH%HKDQGOXQJRGHU%HGLHQXQJGXUFKIDOVFKHV$XIVWHOOHQRGHU$XIEHZDKUHQ
GXUFKXQVDFKJHPlVVHQ$QVFKOXVVXQVDFKJHPlVVH,QVWDOODWLRQVRZLHGXUFKK|KHUH*HZDOWRGHUVRQVWLJH
lXVVHUH(LQIOVVHHQWVWHKHQIDOOHQQLFKWXQWHUGLH*DUDQWLHOHLVWXQJ
:LUEHKDOWHQXQVYRUEHL5HNODPDWLRQHQGLHGHIHNWHQ7HLOHDXV]XEHVVHUQRGHU]XHUVHW]HQRGHUGDV*HUlW
XP]XWDXVFKHQ
1XUZHQQ1DFKEHVVHUXQJHQRGHU8PWDXVFKGHV*HUlWHVGLHKHUVWHOOHUVHLWLJYRUJHVHKHQH1XW]XQJHQGJOWLJ
QLFKW]XHUUHLFKHQVHLQVROOWH.DQQGHU.lXIHUDXV*HZlKUOHLVWXQJLQQHUKDOEYRQVHFKV0RQDWHQJHUHFKQHWYRP
7DJGHV.DXIHV+HUDEVHW]XQJGHV.DXISUHLVHVRGHU$XIKHEXQJGHV.DXIYHUWUDJHVYHUODQJHQ
6FKDGHQHUVDW]DQVSUFKHDXFKKLQVLFKWOLFK)ROJHVFKlGHQVRZHLWVLHQLFKWDXV9RUVDW]RGHUJUREHU
)DKUOlVVLJNHLWEHUXKHQDXVJHVFKORVVHQ
%HLXQQ|WLJHURGHUXQEHUHFKWLJWHU%HDQVSUXFKXQJGHV.XQGHQGLHQVWHVEHUHFKQHQZLUGDVIUXQVHUH
'LHQVWOHLVWXQJEOLFKHQ=HLWXQG:HJHQWJHOW
5HNODPDWLRQHQVLQGXQPLWWHOEDUQDFK)HVWVWHOOXQJHLQHV)HKOHUV]XPHOGHQ
'DVDOOIlOOLJH$XVZHFKVHOQYRQ*OKELUQHQGXUFKXQVHUHQ.XQGHQGLHQVWPRQWHXUXQWHUOLHJWQLFKWGHQ
*DUDQWLHULFKWOLQLHQXQGZLUGGHVKDOENRVWHQSIOLFKWLJGXUFKJHIKUW)U/HXFKWPLWWHOZLUGLQNHLQHP)DOO*DUDQWLH
JHZlKUW
'HU*DUDQWLHDQVSUXFKLVWYRP.lXIHUGXUFK9RUODJHGHU.DXITXLWWXQJQDFK]XZHLVHQ'LH*DUDQWLH]XVDJHLVW
JOWLJLQQHUKDOEGHU%XQGHVUHSXEOLN'HXWVFKODQG
:$55$17<&21',7,216
7KHPDQXIDFWXUHUGRHVQRWWDNHDQ\UHVSRQVLELOLW\IRUGDPDJHFDXVHGE\WKHEX\HU
7KLVGHYLFHKDVEHHQPDQXIDFWXUHGDQGWHVWHGDFFRUGLQJWRWKHODWHVWPHWKRGV,UUHVSHFWLYHRIWKHVHOOHUV
GHDOHUVVWDWXWRU\ZDUUDQW\REOLJDWLRQWKHPDQXIDFWXUHUSURYLGHVDPRQWKZDUUDQW\IRUIDXOWOHVVPDWHULDODQG
IDXOWOHVVSURGXFWLRQIRUDSHULRGRIPRQWKVIURPWKHGDWHRISXUFKDVH
7KHZDUUDQW\H[SLUHVLQFDVHRILQWHUYHQWLRQE\WKHEX\HURUE\WKLUGSDUWLHV
'DPDJHFDXVHGE\LPSURSHUKDQGOLQJRURSHUDWLRQE\LQFRUUHFWLQVWDOODWLRQRUVWRUDJHE\LPSURSHUFRQQHFWLRQ
LPSURSHULQVWDOODWLRQDVZHOODVE\IRUFHPDMHXUHRURWKHUH[WHUQDOLQIOXHQFHVDUHQRWFRYHUHGE\WKHJXDUDQWHH
:HUHVHUYHWKHULJKWWRUHSDLURUUHSODFHGHIHFWLYHSDUWVRUWRH[FKDQJHWKHGHYLFHLQFDVHRIFRPSODLQWV
2QO\LIUHSDLUVRUUHSODFHPHQWRIWKHGHYLFHWKHLQWHQGHGXVHE\WKHPDQXIDFWXUHUVKRXOGQRWEHILQDOO\
DFKLHYHGWKHEX\HUFDQGHPDQGZDUUDQW\ZLWKLQVL[PRQWKVFDOFXODWHGIURPWKHGDWHRISXUFKDVHUHGXFWLRQRI
WKHSXUFKDVHSULFHRUFDQFHOODWLRQRIWKHSXUFKDVHFRQWUDFW
&ODLPVIRUGDPDJHVLQFOXGLQJFRQVHTXHQWLDOGDPDJHVXQOHVVWKH\DUHEDVHGRQLQWHQWRUJURVVQHJOLJHQFH
H[FOXGHG
,QWKHFDVHRIXQQHFHVVDU\RUXQMXVWLILHGXVHRIWKHFXVWRPHUVHUYLFHZHFKDUJHWKHXVXDOWLPHDQGWUDFNFKDUJH
IRURXUVHUYLFH
&RPSODLQWVPXVWEHUHSRUWHGLPPHGLDWHO\DIWHUWKHGHWHFWLRQRIDQHUURU
7KHUHSODFHPHQWRIOLJKWEXOEVE\RXUFXVWRPHUVHUYLFHWHFKQLFLDQLVQRWVXEMHFWWRWKHJXDUDQWHHJXLGHOLQHVDQG
LVWKHUHIRUHVXEMHFWWRDFKDUJH7KHUHLVQRJXDUDQWHHIRUEXOEV
7KHZDUUDQW\FODLPKDVWREHSURYHQE\WKHEX\HUE\SUHVHQWLQJWKHSXUFKDVHUHFHLSW7KHJXDUDQWHHLVYDOLG
ZLWKLQWKH)HGHUDO5HSXEOLFRI*HUPDQ\
'
*%