Notice about Changes to Office Names and Responsibilities due to Office Restructuring

APU is planning to change the office organization during the 2024 academic year.
As a result, the name, responsibilities, and location of each office and the consultation
services provided will change.
The information about office names and responsibilities included in the Course
Registration Guides for each college is accurate as of March 2024.
Please check the latest information about office names and responsibilities from theuniversity’s websites.
All Course Registration Guides are current as of March 12, 2024.

【APS】
College of Asia Pacific Studies
2017 Curriculum
English-basis
Course Registration Guides
Ritsumeikan Asia Pacific University
Academic Office001

INDEX｜Basic Academic Information
Chapters 1 to 7 cover basic academic information that applies to all undergraduate students regardless of which college they
belong to. Please review the PDF on the following page.
https://en.apu.ac.jp/academic/course_registration_guide/｜Curriculum & Graduation Requirements◎Chapter 8: College of Asia Pacific Studies
1. What is a Curriculum?

This page explains curriculums, which differ depending on your year of enrollment.

003

2. About the College of Asia Pacific Studies

Information about APS’s human resource development goals, degree title, and005

curriculum policy

3. Graduation Requirements

Explanation of APS’s graduation requirements by curriculum009

4. Curriculum Outline & Subject List

Check this page for information about course registration restrictions as well as026

which subjects are available to APS students.

5. Common Education Subjects (Language Education Subjects)－5-1. English Language

Japanese-basis students are required to take English language subjects.

029－5-2. Japanese Language

English-basis students are required to take Japanese language subjects.

038－5-3. AP Languages

Check this page if you want to study the languages used in the Asia Pacific region.

044

6. Common Education Subjects (Common Liberal Arts Subjects)－6-1. What are Common Liberal Arts Subjects?

Explanation of Common Liberal Arts Subjects－6-2. SSW & MCW

These subjects provide new students with the basic knowledge and methods needed
to pursue their studies at APU.

7. APS Major Education Subjects－7-1. What are APS Major Education Subjects?

Explanation of APS Major Education Subjects－7-2. Seminar Subjects

Check this page for information about 3rd- and 4th-year seminars.

049

8. Honors ProgramThis program is only available to students who have registered “International055

Relations” as their Area of Study.

◎Endpaper materials⚫

APS 2017 Curriculum Outline・・・・・・・・・・・・・・・・・・・・・・・・ 059⚫

APS 2017 Curriculum Subject List・・・・・・・・・・・・・・・・・・・・・060⚫

APS 2017 Curriculum Credit Transfer Subject List・・・・・・・073

002

Chapter 8: College of Asia Pacific Studies

1. What is a Curriculum?
Your curriculum sets out your graduation requirements and the courses you can take. It is determined by the year you enroll at APU. Your curriculum
will stay the same until graduation. (Excluding cases where there is a change in student status, such as withdrawal, etc.)
Please note that the curriculum for Japanese basis students changes depending on your staring level for English language subjects.
Curriculum

2023
Curriculum

2017
Curriculum

Remarks
1.Students who enrolled as new (1st-semester) students from AY 2023 onwards.
2.Students who enrolled as 2nd-year transfer students from AY 2024 onwards.
3.Students who enrolled as 3rd-year transfer students from AY 2025 onwards.
1.Students who enrolled as new (1st-semester) students between AY 2017 and AY 2022.
2.Students who enrolled as 2nd-year transfer students between AY 2018 and AY 2023.
3.Students who enrolled as 3rd-year transfer students between AY 2019 and AY 2024.
1.Students who enrolled as new (1st-semester) students between AY 2011 and AY 2016.

2011
Curriculum

2.Students who enrolled as 2nd-year transfer students between AY 2011 and AY 2017.
3.Students who enrolled as 3rd-year transfer students between AY 2011 and AY 2018.
4.Students who originally enrolled before AY 2011, but as a result of reinstatement or readmission will be in thesame semester as students in Group 1.

003

17

2017 Curriculum

1. Students who enrolled as new (1st-semester) students between AY 2017 and AY 2022.
2. Students who enrolled as 2nd-year transfer students between AY 2018 and AY 2023.
3. Students who enrolled as 3rd-year transfer students between AY 2019 and AY 2024.

College of Asia Pacific Studies (APS)

CollegeCollege of Asia Pacific Studies（APS）

Enrollment

EnglishStarting
Level

English-Japanese-Basis (J)Language

Elementary

Pre Intermediate

Intermediate

Basis (E)

Upper

Advanced

Advanced

Intermediate

1

2

ExemptEnglishCourseStandard Track (ST)

Advanced Track (AT)APS 17 JST

APS 17 JAT

APS 2017 Curriculum

APS 2017 Curriculum

Japanese-Basis

Japanese-Basis

Standard Track

Advanced Track

Track

Curriculum

Meaning004

APS 17 E
APS 2017
Curriculum
EnglishBasisChapter 8: College of Asia Pacific Studies

2. About the College of Asia Pacific Studies
This section describes the human resource development goals and policies that the College of Asia Pacific Studies pursues.

172017 Curriculum

1. Students who enrolled as new (1st-semester) students between AY 2017 and AY 2022.
2. Students who enrolled as 2nd-year transfer students between AY 2018 and AY 2023.
3. Students who enrolled as 3rd-year transfer students between AY 2019 and AY 2024.

Human Resource Development Goals

The College of Asia Pacific Studies aims to cultivate human resources that, upon comprehensive understanding of the diverse political conditions,
economies, societies, and cultures of the Asia Pacific region, will 1) achieve basic and advanced knowledge in such areas as global society,environment and development, and tourism; 2) develop language, communication, and problem-solving abilities; and 3) through understanding of thediverse problems facing the Asia Pacific, will be able to contribute to sustainable development and coexistence in the region.

DegreeDegree Title: Bachelor of Social Science005

Diploma Policy

To accomplish the educational objectives stipulated in the College of Asia Pacific Studies College Regulations, the College of Asia Pacific Studies
has defined graduation requirements as well as the following three learning outcomes to be achieved by the time of graduation.

(Graduation Requirements)
Students are required to enroll for the designated period and to complete at least 124 credits in accordance with the following course
registration requirements.
Complete at least 40 credits of Common Education Subjects in accordance with the following requirements:
1) Japanese-basis students must complete at least 24 credits of English Language Education Subjects, and English-basis students mustcomplete at least 16 credits of Japanese Language Education Subjects. However, students may apply for an exemption, both in English
and Japanese Language Education Subjects, based on their basis language upon entry.
2) Complete at least 2 credits of required Common Liberal Arts Subjects in either selected Area of Study.
Complete at least 62 credits of APS Major Education Subjects including at least 28 credits of Major Education Subjects in the registered
Area of Study.
Domestic Japanese-basis students must complete at least 20 credits of Common Liberal Arts Subjects or Major Education Subjects
offered in English.
Detailed course registration requirements shall be stipulated in the College of Asia Pacific Studies College Regulations.

(Learning Outcomes)
1. Academic Knowledge and Understanding
1-a. Students have acquired a basic knowledge of the global society with an emphasis on the Asia Pacific region and other related
knowledge.
1-b. Students have progressed toward a comprehensive understanding of the area of study to which the student belongs. (Environmentand Development; Hospitality and Tourism; International Relations and Peace Studies; and Culture, Society and Media)
1-c. Students have developed an interdisciplinary understanding of the ever-changing global society.

2. Abilities and Skills
2-a. Students have improved their logical and critical thinking.
2-b. Students have acquired professional and technical skills.
2-c. Students have enhanced creativity in the thought and expression of their ideas.

3. Social Commitment
3-a. Students have improved their knowledge of at least a second language.
3-b. Students can communicate adequately with others from different cultures and with different values in the global society.
3-c. Students can act with leadership and responsibility from a global perspective.
〔Updated Jan.26, 2021〕

006

Curriculum Policy (Curriculum Design Policy and Curriculum Implementation Policy)(1) Curriculum Design Policy(Subject Placement: General)
The curriculum is divided into Common Education Subjects and Major Education Subjects, and is designed for four years.

(Subject Placement: Common Education Subjects)
Common Education Subjects are divided into Language Education Subjects and Common Liberal Arts Subjects. The Language
Education Subjects consist of English, Japanese, AP languages (Chinese, Korean, Malay / Indonesian, Spanish, Thai or Vietnamese)and Specific Subjects.
Common Liberal Arts Subjects consist of APU Literacy Subjects, Global Citizens Foundation Subjects, Response to Social Needs
Subjects.
APU Literacy Subjects are designed for mastering the skills needed by APU students.
Global Citizens Foundation Subjects are designed for acquiring the knowledge needed by APU students. The Subjects are divided into
Asia Pacific Group, Japanese Studies Group, Basic Study Group, and Introduction to Major Studies Group. Subjects that fall into theIntroduction to Major Studies Group are each positioned as required subjects for the specific Area of Study that the students selectby the end of their study.
Response to Social Needs Subjects are designed for mastering skills for addressing social needs. These are divided into Basic Skills
and ICT.

(Subject Placement: Major Education Subjects)
Major Education Subjects are divided into Core Subjects, Seminar Subjects, APS Common A Subjects, APS Common B Subjects, andSubjects for the Area of Study. Major Education Subjects for the Area of Study are divided into: Environment and Development;
Hospitality and Tourism; International Relations and Peace Studies; and Culture, Society and Media.
Core Subjects are designed for understanding the ideal and objective of APS.
Seminar Subjects are designed for developing the knowledge and skills in their field of interest in a small-group format.
Common Subjects are designed for acquiring valuable knowledge and experiences through courses which include a Special Lecture,
a Field Study and so on, not specific to a particular Area of Study.
Subjects for the Area of Study are designed for developing the knowledge in the four Areas of Study which make up APS education.

(Curriculum Map)
*Curriculum Map (or Curriculum Alignment Matrices)

is available on the APU Website.

007

(2) Curriculum Implementation Policy(Subject Offerings)
Offer subjects listed in the College of Asia Pacific Studies College Regulations in both Japanese and English in principle, to allow
students to enroll, take classes, and graduate in either English or Japanese while also learning the opposite language.
Expand the Off-campus Study Programs offered in accordance with both University and APS policies.
All subjects are offered in the semester, day, and period which allow students to take full advantage of structured learning.

(Subject Operation)
All subjects are operated in compliance with the Standards for Establishment of Universities and the University Regulations. In
addition, based on the methods applied in the subject, factors such as the educational outcomes and necessary studies outside of
the class hours are also taken into account.
Each subject is operated by following the Curriculum Map and the syllabus is designed to guide students in achieving the Learning
Goals and Learning Objectives set for the subject.
All subjects are aimed at achieving Multi-cultural Cooperative Learning by taking full advantage of APU’s multicultural environment
and education, which encourages interactive collaboration between International and Domestic students.
Instructors are required to comply with guidelines related to the subject operation including administration of Class Evaluation
Surveys, response to Grade Inquiries, and holding Make-up Classes.
〔Updated Jan.26, 2021〕

008

Chapter 8: College of Asia Pacific Studies

3. Graduation Requirements & Areas of Study

172017 Curriculum

1. Students who enrolled as new (1st-semester) students between AY 2017 and AY 2022.
2. Students who enrolled as 2nd-year transfer students between AY 2018 and AY 2023.
3. Students who enrolled as 3rd-year transfer students between AY 2019 and AY 2024.

Students to whom the 2017 Curriculum applies:

Students who enrolled in the College of Asia Pacific Studies (APS) as new (1st-semester) students in AY 2017 or later.
Students who enrolled in the College of Asia Pacific Studies (APS) as 2nd-year transfer students between AY 2018 and AY 2023.
Students who enrolled in the College of Asia Pacific Studies (APS) as 3rd-year transfer students between AY 2019 and AY 2024.

009

Graduation Requirements

Your graduation requirements depend on your enrollment language and whether you are a domestic or international student. In order to graduate from the College of
Asia Pacific Studies, you must fulfill all of the requirements marked by 〇 in the table below. Please check the column that corresponds to your language basis andstatus as an international/domestic student.

Language Basis &Domestic / International Student
No.

Graduation Requirements

Japanese-basis

English-basis

Domestic

International

student

student―

1

Enroll for at least four years

〇

〇

〇

2

Complete at least 124 credits in total

〇

〇

〇

〇

〇

〇

〇

〇

〇

〇

―

―

〇

〇

〇

〇

〇

〇

〇

〇

〇

3

4

5

6

7

8

Complete all required language subjects(or be exempted from required language subjects)
Fulfill the credit requirements for each subject field
Complete at least 20 credits of subjects held in English(This requirement only applies to Japanese-basis domestic students)
Select and register for an Area of Study
Complete at least 2 credits of required subjects for your registered Area of
Study (Common Liberal Arts Subjects)
Complete at least 28 credits of Major Education Subjects for your registered
Area of Study

010

Credits Required for Graduation by Curriculum
The following tables show the credit requirements for graduation by curriculum. (How to check your curriculum)

However, each student’s starting level for required language subjects (English or Japanese) differs depending on the results of the placement test taken after
enrollment. For this reason, even though students belong to the same curriculum, the number of required credits for “English Language Subjects” or “Japanese
Language Subjects” may also differ between students. Please see “Graduation Requirement 3” for more information about required language subjects.
How to Check your Individual Credit Requirements

APS 17 JST: Credits Required for Graduation (APS 2017 Curriculum, Japanese-basis, English Standard Track)

Required

Subject Field

Credits

English Language Subjects

24

Area of Study’s Required Common Liberal Arts Subjects

2

Common Liberal Arts Subjects

14

Language Education Subjects and/or Common Liberal Arts Subjects

0Area of Study’s Major Education Subjects

28

APS Major Education Subjects

34

Other College Subject

0

Subjects Not Counted Towards Graduation0

CommonEducation
Subjects

Total

40

At least
124 credits

62

APS Major
Education

Subtotal

Subjects

011

0APS 17 JAT: Credits Required for Graduation (APS 2017 Curriculum, Japanese-basis, English Advanced Track)

Required

Subject Field

Credits

English Language Subjects

12

Area of Study’s Required Common Liberal Arts Subjects

2

Common Liberal Arts Subjects

14

Language Education Subjects and/or Common Liberal Arts Subjects

12

Area of Study’s Major Education Subjects

28

APS Major Education Subjects

34

Other College Subject

0

Subjects Not Counted Towards Graduation0

CommonEducation
Subjects

Total

40

At least
124 credits

62

APS Major
Education

Subtotal

Subjects
0

APS 17 E: Credits Required for Graduation (APS 2017 Curriculum, English-Basis)

Required

Subject Field

Credits

Japanese Language Subjects

16

Area of Study’s Required Common Liberal Arts Subjects

2

Common Liberal Arts Subjects

14

Language Education Subjects and/or Common Liberal Arts Subjects

8

Area of Study’s Major Education Subjects

28

APS Major Education Subjects

34

Other College Subject

0

Subjects Not Counted Towards Graduation0

CommonEducation
Subjects

Total

40

At least
124 credits

62

APS Major
Education

Subtotal

Subjects

012

0Explanation of Each Graduation Requirement

Graduation Requirement 1: Enroll for at least four years
Students must be enrolled at APU for at least four years.

Year Level

1st year student

2nd year student

3rd year student

Semester Level

1st

3rd

5th

EnrollEnroll

2nd

4th

6th

4th year student
7th

8th

9th

Graduate―

Graduation Requirement 2: Complete at least 124 credits in total
Students must earn a total of at least 124 credits to graduate.
However, even if a student has earned 124 credits overall, they cannot graduate if they have not fulfilled any of graduation requirements 3 to 8.

013

Graduation Requirement 3: Complete all required language subjects (or be exempted from required language subjects)
The number of required credits for English or Japanese Language Subjects differs between students based on the results of the placement test taken after
enrollment. APU automatically registers and assigns students to these classes until they earn credits for all their required language subjects.

【English】Required Language Subjects for Japanese-Basis Students
Students can only proceed to the next level after earning credits for both English A and B at a given level. Students who fail either subject A or B cannot
proceed to the next level. (For example, if a student passes English A but fails B, then they will only be registered for English B again in the next semester.)At all levels, English A is worth 4 credits and English B is worth 2 credits.
Please refer to the “English Language Subjects” page for more details.
Advanced Track

Standard Track

Registration Period for

Registration Period for Required English Subjects

Required English Subjects

No. ofTrack

Starting
Level

Credits
Requiredfor

Elementary
A

PreIntermediate

IntermediateA

A

UpperIntermediateA

Advanced

Advanced

1A

2A

Advanced

Advanced

1B

2B(Optional)(Optional)(Optional)(Optional)(Optional)(Optional)(Optional)(Optional)

1stCompleting

Semester

Advanced

Graduation
Elementary
B

Elementary24

1stSemester

PreIntermediate

Intermediate
B

B

After

After
Completing
Elementary

Completing
PreIntermediate
After

PreStandard

Intermediate

18

Exempt1stCompleting

Semester

PreIntermediate

Track

Intermediate

UpperIntermediate

12

6

ExemptExempt

1st

ExemptSemester

ExemptExemptUpperIntermediateB

After
Completing
Intermediate

After
Completing
Intermediate

After
Completing
Intermediate
1stSemester

After
Advanced 1

121
Advanced

Cannot Register

Track
Advanced 2

6ExemptExempt0

Exempt014

1stSemester
Exempt【Japanese】Required Language Subjects for English-Basis Students
Please refer to the “Japanese Language Subjects” page for more details.
Registration Period for Required Japanese Subjects

No. of Credits
Starting Level

Required for
Graduation

Foundation I

Foundation II

Foundation III

Intermediate(4 Credits)(4 Credits)(4 Credits)(4 Credits)
After Completing

Foundation I

16Foundation II

12

ExemptBoth Registered in 1st Semester

Foundation III

8

ExemptExempt

1st Semester

Intermediate

4

ExemptExemptExempt

1st Semester

0

ExemptExemptExemptExemptHigher thanIntermediate

All Registered in 1st Semester

015

Foundation I – III
After Completing
Foundation II & III
After Completing
Foundation III

Graduation Requirement 4: Fulfill the credit requirements for each subject field
Of the 124 credits required for graduation, students need to earn 102 credits in specific subject fields (Graduation Requirements 3 - 8).
Although students are required to complete 102 credits in the set subject fields, they can complete the remaining 22 credits (124 credits – 102 credits) in any
subject field they are interested in.
Depending on each student’s starting level for required language subjects, the number of required credits for “English/Japanese Language Subjects” and“Language Education Subjects and/or Common Liberal Arts Subjects” will change. However, all students are still required to earn a total of 102 credits in therequired subject fields.

【E.g.: English-basis Students (Starting from Foundation Japanese I)
Required

Subject Field

CommonCredits

Japanese Language Subjects

16

Area of Study’s Required Common Liberal Arts Subjects

2

Common Liberal Arts Subjects

14

Language Education Subjects and/or Common Liberal Arts Subjects

8

Area of Study’s Major Education Subjects

28

APS Major Education Subjects

34

Education
Subjects

APS Major

Total

102 Credits

40

Education
Subjects

Subtotal

At least
124 credits

62

Other College Subject

0

Subjects Not Counted Towards Graduation

0

016

0

Graduation Requirement 5: Complete at least 20 credits of subjects held in English (This requirement only applies to Japanese-basis domestic
students)
Japanese-basis domestic students must complete at least 20 credits of Common Liberal Arts or Major Education Subjects (either from their own college oranother college) held in English.
Japanese-basis students must fulfil the following requirements in order to register for subjects held in English.

English Track

Requirements for Taking Subjects Held in English

Standard Track（JST）

Complete credits for or be exempted from “Intermediate English A/B”

Advanced Track（JAT）

No specific requirements. Can register for subjects held in English from their 1st semester.

（NOTE）
Language Education Subjects and subjects held in both English and Japanese (E/J) do not count towards this total.
Japanese-basis international students do not need to complete this requirement for graduation.
Even if your residence status (domestic/international) changes after enrollment, your curriculum and graduation requirements do not change.
The subject “Bridge Program” counts as a subject held in English.

Bridge Program is a Common Liberal Arts Subject where students study a wide variety of liberal arts topics while improving their
Subject

English ability.

OutlineThis subject was established to serve as the first step towards students taking regular classes held in English.
Students cannot register for this subject again if they have already earned credits for it before.

Eligibility

Registration
Restrictions

Only Japanese-basis domestic students on the English Standard Track can register for this subject.
Available after completing “Pre-Intermediate English A & B” and before completing “Upper-Intermediate English A & B”.
The classes are separated by college, so students cannot register for the “Bridge Program” of other colleges.
Students who want to take this subject should register for it themselves during one of the course registration periods.

017

Graduation Requirement 6: Select and register for an Area of Study
The College of Asia Pacific Studies has established four Areas of Study for students to develop specialized knowledge and comprehensive problem-solving
abilities regarding the various issues facing the Asia Pacific region. These studies center around solid language proficiency and a basic understanding of thediverse cultures, histories, societies, natural environments, and historical conditions within the Asia Pacific region. The name of that Area of Study will be
noted on their diploma.

Students can only register for one Area of Study.

APS Areas of Study
Environment‌and ‌Development (ED)
Hospitality‌and ‌Tourism (HT)International‌Relations ‌and P‌ eace‌Studies (IRP)
Culture, S‌ ociety‌and ‌Media (CSM)

Schedule for Area of Study Registration
Eligible Semesters

2nd Semester – 6th Semester

Registration Periods

Course Registration Periods A & B, Correction Periods 1 & 2*After a student has registered for an Area of Study, they can change it an unlimited number of times within the registration periods above.
*Students are not permitted to register or change their Area of Study outside of the periods listed above.
*Some of APU’s systems and programs require applicants to have registered for an Area of Study. Therefore, it is strongly recommended that students register
for an Area of Study as early as possible.

How to Register for an Area of Study
Please refer to this manual and register on Campusmate under “Area of Study Registration”.

APS Area of Study Registration Manual018

Graduation Requirement 7: Complete at least 2 credits of required subjects for your registered Area of Study (Common Liberal Arts Subjects)
In the College of Asia Pacific Studies (APS), there are set required subjects for each Area of Study. These subjects provide students with a general andcomprehensive overview of the academic fields each Area of Study belongs to as well as the issues and objectives within each field. By studying the basic
knowledge and theories needed to understand the target of each discipline, these subjects serve as the first step to broader and deeper study of each Area of
Study.
APS students are required to complete at least 2 credits of the required Common Liberal Arts Subjects for their registered Area of Study to graduate.

Area of Study

Subject
Code021011

Subject Name

Introduction toEnvironmental Studies

No. ofCredits

Semester
Available
From

2

1st Semester2

1st Semester2

1st Semester

Registration
MethodEnvironment‌and‌Development (ED)Introduction to
020036Development
Studies

Hospitality‌and ‌Tourism(HT)020039020023‌Peace‌Studies (IRP)

Culture, Society‌andHospitality

Registered by theStudent

International‌Relations‌andIntroduction to Tourism and

020035Introduction to International
RelationsIntroduction to Culture andSociety2

1st Semester2

1st Semester2

1st Semester‌Media(CSM)

027001Introduction to Media
Studies

Both “Environment and Development” and “Culture, Society and Media” have two required subjects each. However, students are only required to register andearn credits for at least one of the subjects to graduate.
Students can also register for the introductory subjects for other Areas of Study.

019

Graduation Requirement 8: Complete at least 28 credits of Major Education Subjects for your registered Area of Study
Students are required to earn at least 28 credits from the Major Education Subjects for their registered Area of Study.
【Environment and Development (ED)】Students who register for “Environment and Development” as their Area of Study need to earn at least 28 credits from the following subjects.
All subjects are worth 2 credits except for “Graduation Research II”, which is worth 4 credits.

▼List of Major Education Subjects for Environment and Development (ED)*Check the “APS 2017 Curriculum Subject List

Subject” for more details.
Subject

Subject Name

Code

Subject Name

Code

030104

International Organizations

032060Major Seminar I

030182

Politics of Development

032070Major Seminar II

030184

Conflict and Development032080Development Economics

032081

International Economics

030261Development Sociology andAnthropology

030262

Biodiversity

037104

Environmental Communication

030263Global Environmental Issues

037110Field Study for Environment and Development

030266

Environment and Society

037115

Community Based Tourism

030267

Environmental Economics

037130030268Industrial Ecology

037131

Urban Environment and Development

030269Project Management in Development

037132

Special Lecture in Environment and Development

030273

GIS and Remote Sensing

037133Resource Management

030274

Environmental Modeling and Analysis

037147

NPO/NGO Studies

030275Development Policy

037148

Area Studies

030276

Community Development

037149Introduction to Research Methods

030300

Environmental Policy

037151

Field Research Project

030400Ecotourism

037155

Graduation Research I

032019International Cooperation

037156

Graduation Research II

020

Preliminary Seminar for Environment andDevelopment

【Hospitality and Tourism (HT)】Students who register for “Hospitality and Tourism” as their Area of Study need to earn at least 28 credits from the following subjects.
All subjects are worth 2 credits except for “Graduation Research II”, which is worth 4 credits.

▼List of Major Education Subjects for Hospitality and Tourism (HT)*Check the “APS 2017 Curriculum Subject List

Subject” for more details.
Subject

Subject Name

Code

Subject Name

Code

030013Cultural Anthropology

037135

Tourism and Hospitality Law

030269Project Management in Development

037136

Tourism Development and Planning030340

Hospitality Management037137

Health and Wellness Tourism

030346

Hospitality Marketing

037138

Resort Development

030350Sociology of Tourism

037139Heritage Tourism

030400Ecotourism

037140Travel Industry

030740Operations Research037141

Destination Marketing and Management

032060Major Seminar I

037142032070Major Seminar II

037143

MICE Tourism Industry

037105

Culture and History of Tourism

037148

Area Studies

037106

Tourism and Social Media

037149Introduction to Research Methods

037107Agri-heritage and Tourism

037151

Field Research Project037111

Field Study for Tourism and Hospitality

037155

Graduation Research I

037112

Event and Festival Management037156

Graduation Research II

037115

Community Based Tourism

037301

Advanced Organizational Behavior

037116

Tourism Economics

037303037134

Preliminary Seminar for Tourism and
Hospitality

021

Special Lecture in Tourism and
Hospitality

Advanced Human Resource
Management

【International Relations and Peace Studies (IRP)】
Students who register for “International Relations and Peace Studies” as their Area of Study need to earn at least 28 credits from the following subjects.
All subjects are worth 2 credits except for “Graduation Research II”, which is worth 4 credits.

▼List of Major Education Subjects for International Relations and Peace Studies (IRP)*Check the “APS 2017 Curriculum Subject List

Subject” for more details.
Subject

Subject Name

Code

Subject Name

Code

030102

International Law

032082

International Political Economy

030104

International Organizations

037101

History of Japanese Foreign Relations

030150Globalization and Law

037102

International Relations Theory

030181

Political Theory

037103Foreign Policy of Japan

030182

Politics of Development

037109030184

Conflict and Development

037124030186030187Comparative Political Economy of the
Asia PacificInternational Relations in the Asia
Pacific

Field Study for International Relations and Peace
Studies
Preliminary Seminar for International Relations
and Peace Studies

037125

Peace Studies

037126Strategic Decision Making

030188

Regional Systems in the Asia Pacific037127

Geo-Politics and Post Cold War Conflicts

030191

Globalization and Regionalism

037128Human Rights

030192Global Issues and Policies

037129030193

International Conflict Resolution

037144

Media and Politics

030195

Identity and Politics

037145Global Media and Conflict

030197

Violence and Terrorism

037146Ethnicity and the Nation State030275Development Policy

037148

Area Studies

032015

History of International Politics

037149Introduction to Research Methods

032019International Cooperation

037151

Field Research Project

032060Major Seminar I

037155

Graduation Research I

032070Major Seminar II

037156

Graduation Research II

022

Special Lecture in International Relations andPeace Studies

【Culture, Society and Media (CSM)】
Students who register for “Culture, Society and Media” as their Area of Study need to earn at least 28 credits from the following subjects.
All subjects are worth 2 credits except for “Graduation Research II”, which is worth 4 credits.

▼List of Major Education Subjects for Culture, Society and Media (CSM)*Check the “APS 2017 Curriculum Subject List

Subject” for more details.
Subject

Subject Name

Code

Subject Name

Code

030011Social Theory

037108Field Study for Culture, Society and Media

030013Cultural Anthropology

037114

Media and History

030021

Religion and Belief

037117030022

Gender Studies

037118Media and Culture

030025

Cultural Studies

037119Global History

030032

Language and Society

037120

The Humanities and Modernity

030034Sociology of Organizations

037121

New Media and Society

030035Social Stratification

037122

Media and Law

030100Transnational Sociology

037123Special Lecture in Culture, Society and Media

030110Multiculturalism and Society

037144

Media and Politics

030150Globalization and Law

037145Global Media and Conflict

030191

Globalization and Regionalism

037146Ethnicity and the Nation State

030195

Identity and Politics

037147

NPO/NGO Studies

032005Social Psychology

037148

Area Studies

032006

Education and Society

037149Introduction to Research Methods

032060Major Seminar I

037151

Field Research Project

032070Major Seminar II

037155

Graduation Research I

037156

Graduation Research II

037101

History of Japanese Foreign
Relations023

Preliminary Seminar for Culture, Society andMediaCore Subjects *Not a graduation requirement

The social sciences are made up of two aspects: (1) society as the subject of research and (2) approaches for examining society and the theoretical framework of
those approaches. Following this understanding, the subject of research in APS is the “Asia Pacific region”, and the four Areas of Study make up the approaches andtheoretical frameworks for observing the Asia Pacific region. As the study of these two aspects is the foundation of APS, the following two subjects have been
positioned as core subjects, and students can learn about the principles and goals of APS through taking these subjects. Neither subject is required for graduation,
however, students are strongly encouraged to take these subjects in order to understand the college of APS. Credits acquired through these courses will count towards“APS Major Education Subjects”.

024SubjectSubject Name（Subject

Code

Field）

Course Objectives & Overview

Registration Method【Objective】
Students learn the approaches and theoretical frameworks ofeach Area of Study to gain an understanding of what it will belike topursue major studies in the Areas of Study.
【Overview】
In this subject, new students learn the information they needtoIntroduction to APS
037113(APS Major Education
subject)

Registered by the University(Cannot Drop)

study in the College of Asia Pacific Studies.

【Registration Period Set by

Structured as a lecture series, faculty from the four Areas of

APU】

Study take turns providing students with insight into three

Japanese-basis students:

topics:Spring Semester (1st year)

What is a university and what should I do there?
What kind of college is the College of Asia Pacific Studies,

English-basis students:
1st semester

what can I study there, and what is ‘Asia Pacific Studies’?
What can I study and research in the four different areas?
By taking this course, students will have an opportunity to
thinkabout what they want to study over the next four years
and gain a clearer idea of their end goal.
【Objective】
Students learn the methods for studying the Asia Pacificregion,the subject of research in APS.
【Overview】
In this subject, students will learn the fundamentals they needtoIntroduction to Area
037152

understand the Asia Pacific region.

Studies

The aim is to provide insights from multiple angles covering(APS Major Education

the characteristics and diversity of the Asia Pacific region.

subject)

Registered by the Student

At the same time, students will tackle the question of‘What is area studies as it pertains to the Asia Pacific region?’and receive a general and comprehensive overview of theobjectives in the field.
By providing students with the basic knowledge they need tounderstand the Asia Pacific region,
this subject serves as the first step to broader and deeper
learning about the region.

Number of Credits Earned from Distance Learning Courses

Number of Credits from “Distance Learning Courses” Included in Credits Counted Toward Graduation
A maximum of 60 credits earned from Distance Learning Courses may be counted toward graduation.
Under the Standards for the Establishment of Universities and APU’s University Regulations, the maximum number of credits from Distance Learning Courses that canbe counted towards graduation for undergraduate students is 60 credits. Please note that if a student earns more than 60 credits, the additional credits will not counttoward the number of credits needed for graduation. In addition, please note that even if a student earns more than 60 credits for applicable courses, this will not be
indicated under “Subjects Not Counted Towards Graduation” on the “Grade Report [Credit Completion]” page of Campusmate.
As such, students must check and manage the number of credits earned through Distance Learning courses themselves and make sure they do not exceed 60 credits.
Please check this page for the list of Distance Learning Courses and other information.

025

Chapter 8: College of Asia Pacific Studies

4. Curriculum Outline & Subject List
Courses that can be taken differ depending on the curriculum.
Please select your own curriculum and confirm which courses you can take and the conditions for taking them.

172017 Curriculum

1. Students who enrolled as new (1st-semester) students between AY 2017 and AY 2022.
2. Students who enrolled as 2nd-year transfer students between AY 2018 and AY 2023.
3. Students who enrolled as 3rd-year transfer students between AY 2019 and AY 2024.

Changes to the Curriculum Outline and Subject List

Some changes have been made to the Curriculum Outline and Subject List.
Please check the following Excel file to see the subjects that have been changed.
Details of Changes

Curriculum Outline

APS 2017 Curriculum Outline

Subject List

The subject list contains information about the subject codes for each subject, what subject field the credits will count towards, and more.
The subjects listed are not necessarily offered every semester.
For more details about which subjects will be offered, please refer to the syllabi and course timetable published each semester.
APS 2017 Curriculum Subject List
APS 2017 Curriculum Credit Transfer Subject List

026

How to Read the Subject List
The headings on the Subject List are explained below.

【Field】
This column shows which subject field the credits for each subject will count towards. The table below shows how each subject field is listedon the Subject List.
Item on the Subject List

Subject Field Counted Towards

言語/Language

English, Japanese, Language Education Subjects

教養/Liberal Arts

Common Liberal Arts Subjects

専門/Major

APS Major Education Subjects

他学部/Other College

Other College Subjects (APM Major Education Subjects)【Subject Name】
All subjects offered as part of the APS 2017 curriculum are listed. The subjects listed are not necessarily offered every semester.
For more details about which subjects will be offered, please refer to the syllabi

and course timetable published each semester.

【Credits】
The number of credits that can be earned by completing each course and receiving a passing grade.

【Semester】
The semester from which you can register for each course is determined in advance. You are able to register for the course from the semester
indicated in this column.
Example: ”3rd Semester” is listed in the “Semester” column
Students in their 3rd semester and above can register for this course.
Students in their 1st or 2nd semester are not eligible to take this course.

【Course Number】
This number indicates the position of the subject within the curriculum and the curriculum’s overall organization.
Course Numbering027

【Prerequisite Subjects for JST Students / JAT Students / E Students】
These are courses you have to earn credits for before you can register for the given subject.
Students who have not completed the prerequisite courses will not be able to register for the subject even if they are eligible to register for itthat semester.
Please refer to the column for your own curriculum as the prerequisites vary depending on your enrollment language and English track.
Item on the Subject List

Meaning

Prerequisite Subjects for JST Students

Prerequisite Subjects for Japanese-basis Standard Track Students

Prerequisite Subjects for JAT Students

Prerequisite Subjects for Japanese-basis Advanced Track Students

Prerequisite Subjects for E Students

Prerequisite Subjects for English-basis Students【Re-registration Possible】
Normally, subjects cannot be retaken if you have already earned credits for that subject, but students can re-register for some subjects thatcan be taken more than once if the lecture content is different. Courses marked with a "〇" in this column may be taken more than once.

【P/F Evaluation】
Courses are usually graded on a 5-point scale of A+ / A / B / C / F, but some courses are graded on a P (Pass) and F (Fail) scale. Courses
evaluated by P (Pass) and F (Fail) are called "P/F evaluation courses" and are labeled as "P/F".

【Course Registration Restrictions】
Some courses have specific requirements for registration.
If you do not meet the course requirements, it will not appear on Campusmate. These courses will only appear on Campusmate whenregistration is possible.

【Area of Study】
You can see which Area of Study the credits for each subject is counted towards. Credits will be counted toward the Areas of Study marked
with a "〇".
Item on the Subject List

MeaningED

Environment and Development

HT

Hospitality and Tourism

IRP

International Relations

CSM

Culture, Society & Media028

Chapter 8: APS / Chapter 9: APM / Chapter 10: ST
5. Common Education Subjects (Language Education Subjects)

5-1. English Language
Students who enter APU on a Japanese basis focus on English language studies in order to improve English ability. With individuals from around theworld gathering at APU, the campus is an ideal environment for students to strengthen their English language skills.

172017 Curriculum

1. Students who enrolled as new (1st-semester) students between AY 2017 and AY 2022.
2. Students who enrolled as 2nd-year transfer students between AY 2018 and AY 2023.
3. Students who enrolled as 3rd-year transfer students between AY 2019 and AY 2024.

English Language

For Japanese-basis students, the appropriate curriculum and starting level of required English language subjects will be based on the results of theplacement test taken at the time of enrollment. The curriculum types include the English Standard Track (24 credits) and the English Advanced Track(12 credits). Note that once curriculum types are set, no changes can be made.

029

Course Registration

Required English language subjects are divided into A (4 credit) and B (2 credit) subjects, each graded according to its own evaluation criteria.
Only once credits for both subjects have been completed can a student proceed to the next level.
The university automatically assigns classes for required English language subjects in each track. Although there may be different timetables andteachers for courses at the same level, all classes are assigned by the university and cannot be changed or cancelled.
The grade level restriction will not apply if a student meets the other requirements to enroll in a language education subject (English).

English Standard Track
Required /Subject Name (credits)

Elective

Elementary English A (4)Elementary English B (2)Pre-Intermediate English A (4)Pre-Intermediate English B (2)RequiredIntermediate English A (4)Intermediate English B (2)Upper-Intermediate English A (4)Upper-Intermediate English B (2)Registration

Registeredby University

English for Business Writing (2)English for Business Presentations (2)Language forSpecificEnglish Project 1 (2)Elective

Purposes

Registered by
student

English for Discussion and Debate (2)English for Journalism (2)Students who wish to take "Language for Specific Purposes" in the Standard Track may do so by completing "Upper- Intermediate English A andB."
Students who wish to take Advanced Track courses may do so by completing "Upper- Intermediate English A and B." Studying in the Advanced
Track begins with "Advanced English 1A and 1B." Students can register for these courses during Course Registration Period B only if there areseats available.

030

English Advanced Track
Required /Subject Name (credits)

Advanced English 1A (4)Registration
Advanced English 1B (2)Required

Advanced English 2A (4)Advanced English 2B (2)Registration

Registered by
University

English for Business 1 (2)English for Business 2 (2)Language forSpecific

Extensive Reading in English (2)Elective

Purposes

Registered by
student

English Project 2 (2)English of the Media (2)Students who wish to take Language for Specific Purposes in the English Advanced Track may do so after completing "Advanced English 1A and
1B."

Specific Subject

Subject Name (credits)

Required / Elective

Registration

Elective

Registered bystudent

TESOL (2)English Proficiency Test Preparation Course I (2)English Proficiency Test Preparation Course Ⅱ (2)English Proficiency Test Preparation Course Ⅲ (2)The subject area of the Specific Subject is a language education subject. Please check the syllabus for course content.

031

Registration of Required English Language Subjects by English-basis Students

English-basis students may register English language courses in the Advanced Track.

Registration of "Advanced English 1A・1B"
Only students with scores LOWER than those in the table below may apply.

IELTS

6.5

TOEIC® Test*

TOEFL ITP®
Test

524

PTE

L

R

S

W

410

395

164

156

Academic

58

Students who wish to register must apply in advance in the semester prior to the semester in which they wish to register for courses. Students may
register for these courses by themselves during Course Registration Period B only if there are seats available.
* Applications are open to students in their second semester or above at the time of enrolment.
* Advance application information will be posted on Campus Terminal each semester.

Registration of "Advanced English 2A・2B" or Language for Specific Purposes in Advanced Track
Students may register for these courses by themselves during Course Registration Period B only if there are seats available.

Requirement to Take the Benchmark Test for Required English Language Subjects

To evaluate the English learning level and progress, Japanese-basis students taking the required English language subjects in the Standard Track arerequired to undergo several Benchmark Tests at each registered level. The result of the Benchmark Test will make up a portion of student’s grade
evaluation for the individual level or course.

Benchmark Test
The Benchmark Test is a computer-based test of English language proficiency that is designed to show learner progress in the language over a
period of time. It is an integrated-skills test, including Reading, Writing, Speaking, Listening. As well as giving detailed feedback to students on all ofthese language skills, the Benchmark Test provides students with a Global Scale of English (GSE) score.

032

Language Study Outside the Classroom

To further improve your language skills, APU offers a wide range of short-term programs during summer and winter holidays, as well as six-monthand one-year overseas language training and study abroad programs. Students are also strongly encouraged to take the TOEFL ITP®, TOEIC®
Listening and Reading Test and IELTS, which are conducted on campus, as an opportunity to objectively assess their English language skills. We lookforward to your active participation and taking these tests!

Off-Campus Language Study
Please refer to Off-campus Programs

SALC (Self-Access Learning Center)
SALC has a wide range of English and Japanese materials at different levels and also offers self-study guidance to help you develop the skills you
want to improve efficiently. Please feel free to drop in.
SALC (Self-Access Learning Center)

Language Proficiency Test
Please check "Language Proficiency Tests".

Website for Self-Study(made by APU English Faculty)
The APU English Learning Strategy Database

Timetable for AY 2024 Spring Semester Required English Courses

Current Students / Reinstatement Students
It is announced on March 15, 2024, on "Action Required" in the Campus Terminal.
New and Readmission students
To be announced in April 3, 2024

033

English Language Subject Exemption

For students at APU it is a graduation requirement to take mandatory language subjects in one's non-basis language. The starting level of thesemandatory language courses is determined by the placement test taken at the time of enrollment. In the following instances, however, it is possible
for AY 2017 Curriculum students to apply for exemption for English language subjects.

While in APU【Application Criteria】
1 The student must not apply for a subject which they are currently taking in the semester of application.
2 The student must have a valid score on the TOEFL iBT® Test, IELTS, PTE Academic or TOEIC® Test, which fulfills the exemption criteria.

【Exemption criteria】
A pass grade for all registered English subjects in the semester of application.

While studying abroad or taking a leave of absence【Application criteria】
1 A pass grade for all registered English subjects in the semester immediately before leaving for study abroad or taking leave of absence.
2 The student must have a valid score on the TOEFL iBT® Test, IELTS, PTE Academic or TOEIC® Test, which fulfills the exemption criteria.
3 Students must apply for an exemption during the semester immediately preceding their return to APU.

034

Exemption Criteria<Available Scores>
TOEFL iBT®: TOEFL iBT® (on-site version, 2/3 hour version), TOEFL iBT Home Edition* TOEFL ITP, TOEFL®PBT, TOEFL®︎Essentials™️tests are NOT accepted
TOEIC®: TOEIC®, TOEIC IP (on-site/online)* TOEIC Bridge® Tests are NOT accepted
IELTS: IELTS Academic, IELTS General Training, IELTS for UKVI, IELTS OnlinePearson
GSE (PTE Academic): PTE Academic, PTE Academic Online* Benchmark test in class is NOT accepted.

TrackStandard Track

Subject Name

TOEFL iBT® Test

IELTS

GSE

Pre-Intermediate English A & B

48

5

39

Intermediate English A & B

55

5.5

44

Upper-Intermediate A & B

61

6

50

Advanced English 1A & 1B

70

6.5

58

Advanced English 2A & 2B

80

7

65

TOEIC ® Tests
L230/R230
S110/W106
L285/R285
S122/W122
L330/R325
S138/W134
L410/R395
S164/W156

Advanced Track

Application Schedule
Details will be announced through Campus Terminal.
SemesterApplication Period

Interview Date

Announcement of the Result

Spring Semester

Around July

Late July – Early August

Grade Announcement Date

Fall Semester

Around January

Early February

Grade Announcement Date035

L430/R410
S174/W168

Application Method
Application method will be announced through Campus Terminal. The screening will be judged comprehensively based on the application and theinterview.
Score sheets (within the validity period) are required for the application. Please keep the original at hand.

Score Sheet
An "original score sheet (The score within the validated period.)" is a certificate or report from a testing organization which shows an evaluation of
language ability. This must be printed by the testing organization itself. Please note that the testing organizations may require several days in orderto reissue score sheets, therefore we ask that you apply well in advance when an additional certificate is needed.If you do not have the printed
documents and only have access to the score result page online, a screenshot of the score inquiry screen may be accepted. However, please notethat we may request the printed(original) documents later.

Interview
In the event you are unable to attend the interview, your application will be invalidated. Please be sure to arrange your schedule to allow yourattendance.

Important Notes
In principle, students cannot cancel the application after taking the exemption test.
Also, please note that the exemption application will be invalid or will not be considered in the following cases.
The application is incomplete or incorrect.
Application documents are not submitted or do not arrive by the deadline.
If the online submitted certificate, such as a qualification exam score sheet, is unclear, or if the original document cannot be submitted whenrequested by the office.
The test score is not one of the specified qualifications for exemption.
Score was not received while on “leave of absence” or during “period of exchange” (Only for exchange students or students on leave of absence)
Does not attend interview on the designated day (for any reason)036

Language Class Attendance Rules

Starting from 2010 Spring Semester, the following rules concerning class attendance will apply to all language education subjects (English,
Japanese, AP languages).
In addition, each class may have special rules concerning attendance. Please be sure to confirm these in each course syllabus.

Attendance
Please attend all classes. If circumstances require your absence, you will still be required to attend at least 3/4 of the classes (including regular classdays and final exam). If you do not attend this number of classes, you will automatically receive a failing (F) grade for the course.

AbsenceIf you are not present at the time class attendance is taken, you will not be counted present. However, absences may be excused in the following
cases:【Contraction of an infectious disease (as recognized by Japanese School Health Law)】
Students must apply to the APU Academic Office with the required documentation in order to have their absences from class excused for thisreason.

【University-authorized leave of absence】
The relevant APU office (i.e. Academic Office, Student Office, Career Office) will send the documents directly to the class teacher. The student
does not need to submit the documents to the teacher.

037

Chapter 8: APS / Chapter 9: APM / Chapter 10: ST
5. Common Education Subjects (Language Education Subjects)

5-2. Japanese Language
Many of the international students who enroll at APU have never spoken a word of Japanese before arriving at an airport in Japan. The Japanese
language education program at APU assists students through the phases of their studies, from basic hiragana characters to complex sentence
structures and beyond.

17

2017 Curriculum

1. Students who enrolled as new (1st-semester) students between AY 2017 and AY 2022.
2. Students who enrolled as 2nd-year transfer students between AY 2018 and AY 2023.
3. Students who enrolled as 3rd-year transfer students between AY 2019 and AY 2024.

Japanese Language Subjects・Language for Specific Purposes

For English-basis students, the starting level of required Japanese language subjects will be based on the results of the placement test taken at thetime of enrollment.
Language for Specific Purposes is offered to students who have completed the required Japanese language subjects and wish to develop theirlanguage ability further. As each course has its own prerequisites and recommended language level, please refer to the syllabus for details.
→Required Language Subjects・Language for Specific Purposes (PDF)

Specific Subject

Subject name (Number of credits)

Required / Elective

Registration

Japanese Linguistics for Japanese Language Education (2)Elective

Registered by student

Japanese Language Teaching (2)Elective

Registered by student

Subject field of Specific Subject is Language Education Subject. Please refer to the syllabus for class content.

038

Japanese learning materials - Language Proficiency Exams

In the following, you will find some information on useful apps, the SALC (Self-Access Learning Center) and other resources to help you learn thelanguage.

Japanese language learning app [TOBIRA]* This service is not available on tablet devices.
* Recommended environment: iOS (iOS 11.0 and above), Android (Android 8.0 and above).

Japanese language teaching materials [TOBIRA]
The contents of the teaching materials published in the Tobira are available in video and audio formats.
→ https://cleacapu.wixsite.com/tobira

Language Proficiency Exams
APU encourages students to take the following tests to objectively measure their Japanese language skills.
→ Japanese-Language Proficiency Test

(JLPT)→ BJT Business Japanese Proficiency Test

SALC (Self-Access Learning Center)
SALC has a wide range of English and Japanese materials at different levels and also offers self-study guidance to help you develop the skills you
want to improve efficiently. Please feel free to drop in.
→ SALC (Self-Access Learning Center)

Japanese subject Timetable for 2024 Spring semester students

Current Students / Exchange & fee-based study abroad students→It is announced on Campus Terminal “Action Required” on 15th March, 2024.
New and Returning students→It is announced on Campus Terminal “Action Required” on 3rd April, 2024.

039

Japanese Language Subject Exemption

For students at APU it is a graduation requirement to take required language subjects in their non-basis language. The starting level of these required
language subjects is determined by the placement test taken at the time of enrollment. In the following instances, however, it is possible to apply for
exemption for Japanese language subjects.

While in APU【Application criteria】
1 The student must not apply for a subject which they are taking in the semester of application.
2 The student has obtained a valid score on either JLPT or EJU which fulfills the exemption criteria.
3 If a student does not possess a valid score, a recommendation signature of the Japanese language class instructor (signatures from past
instructors are also acceptable) must be included in the application form.

【Exemption criteria】
1 A pass grade (A＋/A/B/C) for registered Japanese subjects [If a student is taking Japanese subjects in the semester of application].
2 The student must pass the interview which will be conducted after the application. [If a student is not taking Japanese subjects in thesemester of application]

While studying abroad or taking a leave of absence【Application criteria】
1 A valid JLPT or EJU score that was attained while studying abroad or taking a leave of absence which fulfills the exemption criteria.
2 The student must apply for an exemption during the semester immediately preceding their return to APU.

Exemption Criteria
Subject Name

Exemption Criteria

Japanese Foundation I
JLPT 4th level (old) or JLPT (new) N5
Japanese Foundation II
Japanese Foundation III

JLPT 3rd level (old) or JLPT (new) N4

Japanese Intermediate

EJU, Japanese 200 points or JLPT (new) N3

Pre-Advanced Japanese

EJU, Japanese 220 points or JLPT (new) N3

Advanced Japanese

EJU, Japanese 240 points or JLPT (new) N2040

Application Schedule
Details of application schedule will be announced through Campus Terminal.
SemesterApplication Period

Interview dateAnnouncement of the result

Spring Semester

Around July

Late July – Early August

Grade Announcement date

Fall Semester

Around January

Early February

Grade Announcement date

Application Method
The application method will be announced through Campus Terminal. The screening will be judged comprehensively based on the application andthe interview.
The score sheet (within the expiration/validated date) is required to apply. Please keep the original document at hand.

Score Sheet
An "original score sheet" is a certificate or report from a testing organization which shows an evaluation of language ability. This must be printed by
the testing organization itself, and downloaded documents will not be accepted. Please note that the testing organizations may require several daysin order to reissue score sheets, therefore we ask that you apply well in advance when an additional certificate is needed.

Interview
If you are unable to attend the interview, your application will be considered invalid. Be sure to have your time available for the interview appointment.

Important Notes
In principle, students cannot cancel the application after taking the exemption test.
Also, please note that the exemption application will be invalid or will not be considered in the following cases.
The application is incomplete or incorrect.
Application documents are not submitted or do not arrive by the deadline.
If the online submitted certificate, such as a qualification exam score sheet, is unclear, or if the original document cannot be submitted whenrequested by the office.
The test score is not one of the specified qualifications for exemption.

【Only for students who are applying for exemption while they are studying abroad or are taking a leave of absence】
The score was not attained during "study abroad" or while taking a "leave of absence"
The student does not attend the interview on the specified day (regardless of the reason).

041

Language Class Attendance Rules

The following rules concerning class attendance will apply to all language education subjects (English, Japanese, AP languages).
In addition, each class may have special rules concerning attendance. Please be sure to confirm these in each course syllabus.

Attendance
Please attend all classes. If circumstances require your absence, you will still be required to attend at least 3/4 of the classes (including regular classdays and final exam). If you do not attend this number of classes, you will automatically receive a failing (F) grade for the course.

AbsenceIf you are not present at the time class attendance is taken, you will not be counted present. However, absences may be excused in the following
cases:【Contraction of an infectious disease (as recognized by Japanese School Health Law)】
Students must apply to the APU Academic Office with the required documentation in order to have their absences from class excused for thisreason.

【University-authorized leave of absence】
The relevant APU office (i.e. Academic Office, Student Office, Career Office) will send the documents directly to the class teacher. The student
does not need to submit the documents to the teacher.

042

5HTXLUHG/DQJXDJH6XEMHFWVʀ/DQJXDJHIRU6SHFLILF3XUSRVHV
6XEMHFW1DPH FUHGLWV

5HTXLUHG(OHFWLYH

5HJLVWUDWLRQ-DSDQHVH)RXQGDWLRQ&RXUVH,  ʀ,,  ʀ,,, 

5HTXLUHG

5HJLVWHUHGE\8QLYHUVLW\

5HTXLUHG

5HJLVWHUHGE\8QLYHUVLW\(OHFWLYH

5HJLVWHUHGE\VWXGHQW

˥3DVVRU([HPSWHG-DSDQHVH,QWHUPHGLDWH&RXUVH ˥3DVVRU([HPSWHG

˥3DVVRU([HPSWHG

3UH$GYDQFHG-DSDQHVH /DQJXDJHIRU6SHFLILF3XUSRVHV-DSDQHVH3URMHFW& 

˥3DVVRU([HPSWHG

ˠ-DSDQHVH,QWHUPHGLDWH&RXUVH$GYDQFHG-DSDQHVH 

FRPSOHWHGDQG3UH$GYDQFHG

˥3DVVRU([HPSWHG-DSDQHVH3URHMFW$ /DQJXDJHIRU6SHFLILF3XUSRVHVˠ-DSDQHVH,QWHUPHGLDWH&RXUVH&DUHHU-DSDQHVHʤʥ-DSDQHVH3URMHFW' %XVLQHVV&RPPXQLFDWLRQLQ-DSDQHVH$ -DSDQHVH3URMHFW( -DSDQHVH3URHMFW% %XVLQHVV&RPPXQLFDWLRQLQ-DSDQHVH% -DSDQHVH3URMHFW) 

ˠ-DSDQHVH,QWHUPHGLDWH&RXUVH/DQJXDJHDQG&XOWXUHLQ-DSDQ -DSDQHVHIRU/HFWXUHV 

FRPSOHWHGDQG$GYDQFHG-DSDQHVHFRPSOHWHGDQG$GYDQFHG-DSDQHVH

LQFRPSOHWH/DQJXDJHDQG6RFLDO7RSLFVLQ-DSDQ 

6XEMHFW1DPH

3UHUHTXLVLWH6XEMHFWV

3UHFRQGLWLRQIRUWDNLQJWKHVXEMHFW

7DUJHW6WXGHQWV-DSDQHVH,QWHUPHGLDWH&RXUVH
FRPSOHWHGDQG3UH$GYDQFHG-DSDQHVH-DSDQHVH3URMHFW&,QFRPSOHWH-DSDQHVH,QWHUPHGLDWH&RXUVH-DSDQHVH,QWHUPHGLDWH&RXUVH(QJOLVKEDVLVVWXGHQWVVWXGHQWVZKRVHQDWLYHODQJXDJHLVQRW-DSDQHVHFRPSOHWHGDQG$GYDQFHG-DSDQHVH-DSDQHVH3URMHFW$%,QFRPSOHWH-DSDQHVH3URMHFW'()-DSDQHVHIRU/HFWXUHV/DQJXDJHDQG&XOWXUHLQ-DSDQ/DQJXDJHDQG6RFLDO7RSLFVLQ-DSDQ&DUHHU-DSDQHVH

$GYDQFHG-DSDQHVH&RPSOHWHG$GYDQFHG-DSDQHVHZLWKD
VFRUHRIDSSUR[SRLQWVRQWKH(-8%XVLQHVV&RPPXQLFDWLRQLQ-DSDQHVH$%XVLQHVV&RPPXQLFDWLRQLQ-DSDQHVH%$YDLODEOHIURPWKVHPHVWHU

043(QJOLVKEDVLVVWXGHQWV-DSDQHVHEDVLVLQWHUQDWLRQDO
VWXGHQWVVWXGHQWVZKRVHQDWLYHODQJXDJHLVQRW-DSDQHVH

Chapter 8: APS / Chapter 9: APM / Chapter 10: ST
5. Common Education Subjects (Language Education Subjects)

5-3. Asia Pacific Languages (AP Languages)
APU offers “Asia Pacific Language” courses in six languages: Chinese, Korean, Malay-Indonesian, Spanish, Thai, and Vietnamese.
AP languages are heard on campus on a daily basis as APU has a large number of students who are native speakers of AP languages.

172017 Curriculum

1. Students who enrolled as new (1st-semester) students between AY 2017 and AY 2022.
2. Students who enrolled as 2nd-year transfer students between AY 2018 and AY 2023.
3. Students who enrolled as 3rd-year transfer students between AY 2019 and AY 2024.

AP Languages

AP Languages Offered
Language

Level (credit)

ChineseI (4) II (4) III (4) IV (4)KoreanI (4) II (4) III (4) IV (4)Malay / IndonesianI (4) II (4) III (4) IV (2)SpanishI (4) II (4) III (4) IV (2)Thai

I (4) II (4) III (4) IV (2)Vietnamese

I (4) II (4) III (4) IV (2)044Specific Subject
Subject field of Specific Subject is Language Education Subject. Please refer to the syllabus for class content.
Subject Name (credits)

Required / Elective

Registration

Introduction to Official Languages of the United Nations Ⅰ (2)Elective

Registered by student

Introduction to Official Languages of the United Nations Ⅱ (2)Elective

Registered by student

Introduction to Official Languages of the United Nations Ⅲ (2)Elective

Registered by student

Course Registration Conditions
The language in which the student wishes to register must not be his/her native language.
Japanese-basis students must have completed or exempted from taking “Elementary English A・B” and English-basis students must havecompleted or exempted from taking “Japanese Foundation Course I・II・III”.
Common Education Subjects (AP languages) can be taken regardless of grade number, provided that the requirements for enrollment have been
fulfilled.
Please check the syllabus for the languages offered.

Language Learning

AP Language Immersion Program
AP languages are not only studied in the classroom by experienced teachers, but also outside the classroom by interacting with students fromdifferent countries and regions.
→ AP Language Immersion Program

SALC (Self-Access Learning Center)
SALC has a wide range of English and Japanese materials at different levels and also offers self-study guidance to help you develop the skills you
want to improve efficiently. Please feel free to drop in.
→ SALC (Self-Access Learning Center)

AP Language Instagram

The AP Languages Instagram account posts a variety of language-related information.
→ https://www.instagram.com/p/CjsKNp7uUnh/?utm_source=ig_web_copy_link045

Asia Pacific Language Subject Exemption

Students who acquire higher level than foundation level of the language may change their starting level by taking the exemption exam.

Exemption Criteria (Approximate standard)
LevelsChineseⅠ

ChineseⅡ

ChineseⅢ

Exemption Criteria
Nihon Chugokugo Kenteishiken level pre-4, Jitsuyo Chugokugo Gino Kenteishiken level pre-4,
New Hanyu Shuiping Kaoshi (HSK) level 2
Nihon Chugokugo Kenteishiken level 4, Jitsuyo Chugokugo Gino Kenteishiken level 4,
New Hanyu Shuiping Kaoshi (HSK) level 2
Nihon Chugokugo Kenteishiken level 3, Jitsuyo Chugokugo Gino Kenteishiken level 3,
New Hanyu Shuiping Kaoshi (HSK) level 3

KoreanⅠ

Kankokugo Noryokushiken level 1, "Hangul" Noryoku Kenteishiken level 5

KoreanⅡ

Kankokugo Noryokushiken level 2, "Hangul" Noryoku Kenteishiken level 4

KoreanⅢ

Kankokugo Noryokushiken level 3, "Hangul" Noryoku Kenteishiken level 3

Malay / Indonesian I

Equivalent CEFR A1

Malay / Indonesian II

Equivalent CEFR A2

Malay / Indonesian Ⅲ

Equivalent CEFR B1

Spanish I

Evaluacion Oficial del Conocimiento de la Lengua Espanola level 5

SpanishⅡ

Evaluacion Oficial del Conocimiento de la Lengua Espanola level 4

SpanishⅢ

Evaluacion Oficial del Conocimiento de la Lengua Espanola level 3

ThaiⅠ

Equivalent CEFR A1

ThaiⅡ

Equivalent CEFR A2

ThaiⅢ

Equivalent CEFR B1

VietnameseⅠ
Equivalent CEFR A1
VietnameseⅡ
Vietnamese Ⅲ

Equivalent CEFR A2046

* Please refer to the syllabus for details on each level and check the level of the exemption examination you are taking.
Even though a student has been approved for AP language subject exemption, they may not register for the next class until the following required
language subject credit has been completed or exempted.
Student Language Basis

Prerequisite Subject

EnglishJapanese Foundation Course Ⅱ

Japanese Foundation CourseⅠ
Japanese Foundation Course Ⅲ
Elementary English A

Japanese

Elementary English B

Application Schedule
Details of the application schedule will be announced through Campus terminal.
SemesterApplication Period

Interview Date

Announcement of the Result

Spring Semester

Around July

Late July – Early August

Grade Announcement Date

Fall Semester

Around January

Early February

Grade Announcement Date

Application Method
The application method will be announced through Campus Terminal. The screening will be judged comprehensively based on the application andthe interview.
The score sheet (within the expiration/validated date) is required to apply. Please keep the original document at hand.

Score Sheet"Score Sheet" is a certificate or report from a testing organization which clearly shows your pass/fail exam results.

Interview
If you are unable to attend the interview, your application will be considered invalid. Be sure to have your time available for the interview appointment.

047

Important Notes
In principle, students cannot cancel the application after taking the exemption test.
Also, please note that the exemption application will be invalid or will not be considered in the following cases.
The application is incomplete or incorrect.
Application documents are not submitted or do not arrive by the deadline.
If the online submitted certificate, such as a qualification exam score sheet, is unclear, or if the original document cannot be submitted whenrequested by the office.
The test score is not one of the specified qualifications for exemption.

【Only for students who are applying for exemption while they are studying abroad or are taking a leave of absence】
The score was not attained during "study abroad" or while taking a "leave of absence"
The student does not attend the interview on the specified day (regardless of the reason).

Language Class Attendance Rules

The following rules concerning class attendance will apply to all language education subjects (English, Japanese, AP languages).
In addition, each class may have special rules concerning attendance. Please be sure to confirm these in each course syllabus.

Attendance
Please attend all classes. If circumstances require your absence, you will still be required to attend at least 3/4 of the classes (including regular classdays and final exam). If you do not attend this number of classes, you will automatically receive a failing (F) grade for the course.

AbsenceIf you are not present at the time class attendance is taken, you will not be counted present. However, absences may be excused in the following
cases:【Contraction of an infectious disease (as recognized by Japanese School Health Law)】
Students must apply to the APU Academic Office with the required documentation in order to have their absences from class excused for thisreason.

【University-authorized leave of absence】
The relevant APU office (i.e. Academic Office, Student Office, Career Office) will send the documents directly to the class teacher. The student
does not need to submit the documents to the teacher.

048

Chapter 8: College of Asia Pacific Studies

7. APS Major Education Subjects

7-2. Seminar Subjects
APS offers 2nd Year Seminars, 3rd Year Seminars, and 4th Year Seminars as Major Seminar courses.
Under the 2023 Curriculum, 3rd and 4th year seminars are required, and students aim to write a graduation thesis as a culmination of their 4 years ofstudy.
In 3rd and 4th year seminars, students study under the same faculty supervisor for 2 years from their 5th to 8th semester, based on the results of theapplication made in their 4th semester.
An overview of the system is shown below, but details of the seminar application method, application period, etc. will be updated soon.

17

2017 Curriculum

Students who enrolled as new (1st year) students in AY 2017 or later.
Students who enrolled as 2nd year transfer students in AY 2018 or later.
Students who enrolled as 3rd year transfer students in AY 2019 or later.

2nd Year Seminars

APS offers "Introduction to Research Methods" and "Preliminary Seminar (Research Methods)" as 2nd year seminar subjects.
In "Introduction to Research Methods," together with studying research methods for the social sciences, students conduct basic surveys andanalyses, write reports, and give presentations. "Preliminary Seminar (Research Methods)" further develops the skills students cultivated in"Introduction to Research Methods" for their particular fields of expertise and serves as the link between "Introduction to Research Methods" and the
3rd year seminars students will be taking.
This is why taking this subject during the 4th semester is preferred and why "Introduction to Research Methods" is desirable as a prerequisite.
"Preliminary Seminar (Research Methods)" courses for each of the four Areas of Study have been established, with classes offered in Japanese
during the Fall Semester and classes offered in English during the Spring Semester. Please check the syllabus for detailed information because thearea of training emphasized differs depending on the Area of Study (e.g., focus on reading documents, focus on field work, focus on hands-on
practice, etc.).
* Subject titles enclosed in parenthesis refer to subjects from the AY 2011 Curriculum.

3rd Year Seminars

Any students interested in advancing to graduate study or finding employment in Japan are strongly encouraged to register for a small-group 3rdyear seminar.
Although the contents of each individual seminar vary greatly, the main aim of all 3rd year seminars is the same: deepen understanding of a specificfield through case studies, journal articles and debate, and master the specialized knowledge and skills necessary for writing an undergraduate
thesis.

【Grade Evaluation】
Major Seminar I/II: Regular grading (A+, A, B, C, or F)

049

APS "Major SeminarⅠ&Ⅱ"
The main aim of the APS Major Seminar is to deepen students’ academic understanding of specific economic social issues, including thebackground and the structure of those issues, affecting the Asia Pacific region through research and discussion. Students also write academic
reports on a chosen topic, which is essential training for further studies. The main fields are ″Environment & Development,″ ″Hospitality & Tourism,″″International Relations & Peace Studies″ and ″Culture, Society & Media.″ During their studies, students will further develop the fundamental researchmethods they acquired during their first two years and deepen their knowledge through analyzing a range of information. Some students may also
take part in surveys, interviews or fieldwork in Japan or overseas.

4th Year Seminars

4th year seminars form the culmination of students’ four years of study at APU. This highly specialized subject allows students to select a topic ofinterest and conduct focused research over a one-year period.
Students take Research Seminar (2 credits) in the first half of their 4th year. Students who successfully pass this subject are then able to take
Undergraduate Thesis (4 credits) the following semester. Only students who pass Research Seminar are able to register for Undergraduate Thesis.

【Grade Evaluation】
Research Seminar:Pass (P) / Fail (F)Undergraduate Thesis:Regular grading (A+, A, B, C, or F)

AY 2024 Spring Semester =Overview= of Seminar System and New Application”AY 2024 Spring Seminar System and New Application”

050

Seminar System and New Application =Detail=Recruitment information

3rd Year Seminar
4th Year Seminar

Regular Pattern & for Students Returning from AOL/Exchange Program
APS Seminar Course List
For Students who are Re-enrolling, Transferring to APU, & Exchange Students (from RU,
domestic or international universities)
Class・Syllabus list

APS Seminar Course List (Re-enrolling, Transferring, RU)* To view the syllabus, click on the symbol beside the instructor name
* The class schedule for 3rd-year seminar ('Major Seminar I/II') on the Syllabus System is
set to ‘3rd period Saturday’ by default.
Please be informed that this is a “dummy” schedule.
(Click here

Undergraduate Seminar Booklet

for details.)

Undergraduate Seminar Booklet（Major Seminar）
Undergraduate Seminar Booklet（ Graduation Research・Undergraduate）

Regular Pattern & for Students Returning from AOL/Exchange Program
Consultation Period:Wed, 15th Nov. 2023– Wed, 13th Dec. 2023
Application Period:Wed, 29th Nov. 2023 – 16:30:00 (JST) Wed, 13th Dec. 2023
Announcement of Screening Result:Wed, 24th Jan. 2024
For Students who are Re-enrolling, Transferring to APU, & Exchange Students (from RU,
Application Schedule

domestic or international universities)
Consultation Period:~Wed, 7th Feb. 2024
Application Period:Wed, 24th Jan. 2024– 16:30:00 (JST) Wed, 7th Feb. 2024
Announcement of Screening Result:
Late Feb. *Announced by email from the Academic Office*This refers only to students who will be in APU from 2024 Spring; students who came to
APU in 2023 Fall or before will be treated as regular students

How to Apply

Apply via RISING FDC

1 3rd Year Main Seminar Application(1st Choice)2 3rd Year Main Seminar Application(2nd Choice)
Seminar Application Form

3 3rd Year Main Seminar Application (Sub-seminar)
4 4th Year Main Seminar Application(1st Choice)
5 4th Year Main Seminar Application(2nd Choice)

Cancelling/Changing Seminars

How to Cancel/Change Seminars

051

For students enrolled in the Accelerated Graduation Program
For Students about to go on an Exchange Program
For students currently participating in an exchange program
For students scheduled for exchange in the 7th semester (Consent Form)
To 2024 Spring Semester Returning Students

For Irregular Patterns etc.

To Students Planning to Take a Leave of Absence
For students considering a college transfer
New Application for Transfer and Inbound Exchange Students
To 2024 Spring Semester Reenrolling Students→Download Application

Application to Re-take Graduation Research II Undergraduate Thesis→Download Application

FAQ

Frequently Asked Questions (FAQ)

Screening Result for AY 2024 Spring Semester

3rd Year Seminar -APS
4th Year Seminar

Related Information

Students Enrolled in the Accelerated Graduation Program
Seminar for Exchange Students

Undergraduate Thesis

2023 Fall Semester
10:00(Japan Standard Time), Tue, 9th Jan, 2024 16:30:00(Japan Standard Time) Mon, 22th Jan, 2024
Undergraduate Thesis schedule* Theses are to be submitted to the Academic Office via Moodle.
* Theses submitted to other office or by post etc. will not be accepted.

Thesis should be submitted online via Moodle.
Thesis Requirements

It is expected that accessing Moodle just before the deadline will be difficult so
all students are strongly advised to submit their thesis well in advance.

Instruction Manualfor submitting the thesis

How to Submit your Thesis

Undergraduate Thesis Graduation Research II

Undergraduate Thesis Graduation Research II Final Research Output

Final Research Output Format

Format052

List of Outstanding Theses in the AY 2023 Spring Semester

CollegeYear

Semester

APS

2023

SpringAPS

2023

Spring

Title
Zhejiang Province Residents’ Attitudes and Behavioral Changes after the Plastic

Restrictions Issued in China in 2020
The Socio-Emotional Behavior and Development of Siblings of Children with Autism
Spectrum Disorder: A Case Study of Siblings of Children with ASD in Indonesia & thePhilippines
Escaping Your Reality Through an Alternate Universe:

APS

2023

SpringAPS

2023

SpringAPS

2023

SpringAPS

2023

SpringAPS

2023

Spring大分県全域の均衡ある観光の発展

APS

2023

Spring

愛知県における若年層方言

APS

2023

SpringAPS

2023

SpringThe Socio-Psychological Effectof Isekai (異世界) on Indonesian Teenage Readers
Mapping Out the Success of Democracy in Indonesia: Fukuyama’s Theory of Liberal
Democracy
The Tale of Princess Kaguya (2013) as a Form of Resistance to Gender Norms
The horrors of teen monsters and rage: Investigating the patriarchal nature of women
representation in Jennifer’s Body (2009)〜おおいた遺産を活用した方策〜-尾張方言と三河方言との比較研究を中心に-

Identifying environmental consciousness and environmentally responsible behavior
among young people visiting wetland parks: A case study of the Xixi wetland in China
Indonesia through the Lens of Deaf and Hard-of-hearing Children with Hearing Parents:
An Empirical

Study to Identify the Influence of Language Acquisition in Forming a

Deaf Cultural Identity
Education and Social Development of Elementary Students With Autism:
APS

2023

SpringInclusive

School Promotes Better Social Skills Than Segregated School in the Case of Medan,

Indonesia

APS

2023

SpringAPS

2023

SpringAPS

2023

Spring

The Role of K-POP as a Soft Power in Diplomatic Relations between Korea and Japan:
How could Korean Popular Culture affect the Current Young Generation of Japan?
ダチョウは気候変動削減貢献の鍵となる存在であるか～畜産の面から、牛肉の代替になるのか～
FLOOD RESPONSE OF UNIVERSITY STUDENTS IN HO CHI MINH CITY:AN

EXPLORATORY RESEARCH REGARDING THE COMMUTE PROCESS AND ON-CAMPUS
LEARNING EXPERIENCE
多和田作品における越境経験を通した言語観について―二作品に見られる言語創造に

APS

2023

SpringAPS

2023

SpringFraming Police Brutality:

APS

2023

SpringHow did the Japanese refugee assistance system work from 2011 to 2021?

着目して―

053

CNN vs. Fox News on African Americans in the USA

CollegeYear

Semester

APS

2023

SpringAPS

2023

SpringAPS

2023

SpringAPS

2023

SpringAPS

2023

SpringAPS

2023

Spring

Title
Pyeonghwa: Finding peace on a belligerent peninsula
Legitimacy of Global Private Sustainable Certification Scheme:

An Assessment of theRoundtable on Sustainable Palm Oil
WTO Appellate Body Crisis: analysis of alleged causes, the role of shaken legitimacy

and MPIA’s contribution in this crisis
The Barriers for Chinese Citizens to Reduce the Use of Disposable Plastic Bags: A Case
Study of Nangang District, Harbin City
日本仏教界はインドネシア仏教をどう描いたか―戦前、戦中の仏教関係雑誌、書籍の分析を通して―Soil to Stomach: A comparative analysis on organic agriculture in Oita and Tamil

Nadu

List of Outstanding Theses before the AY 2022 Fall Semester
APS Outstanding Theses before AY 2022

054

Chapter 8: College of Asia Pacific Studies

8. Honors Program
The Honors Program in International Relations and Peace Studies (The IR Honors Program)Students who register the International Relations and Peace Studies Field (IRPS) as their areas of study and meet the program requirements receive
an Honors Certificate in International Relations and Peace Studies (Honors Certificate). The program recognizes students who utilize individualized
faculty supervision and APU’s enhanced international and intercultural programs.

172017 Curriculum

1. Students who enrolled as new (1st-semester) students between AY 2017 and AY 2022.
2. Students who enrolled as 2nd-year transfer students between AY 2018 and AY 2023.
3. Students who enrolled as 3rd-year transfer students between AY 2019 and AY 2024.

Eligible students
1. Students who enter the College of Asia Pacific Studies from Spring 2017 to Fall 2022.
2. Students who register IRPS for their areas of study, and also register to the program

Registration for certification
1. APS students in the 2nd or 3rd semester who have registered "International Relations and Peace Studies (IRP)" as their Area of Study by the endof each Course Registration Correction Period 2 will receive guidelines on how to register for the IR Honors Program at the Campus Terminal.
Students who wish to register for the program must remember to register for their Area of Study.
Students cannot register in their 1st, 4th semester, or after.
2. Students must confirm or withdraw from the IR Honors Program in the 6th semester Course Registration Correction Period 2 when Field
registration is finalized.

Conditions for certification
After registering for the IR Honors Program at the specified time, students who satisfy the following conditions can gain the certification.
1. Complete at least 30 credits of IRPS Field subjects.
2. Write an undergraduate thesis under the supervision of an IRPS Field faculty member and successfully pass the screening with a grade of A or A+(i.e., earned a grade of A or A+ in Research Seminar II)
3. Participate in and earn credits for at least one APU Off-campus Programs. (A list of eligible Off-campus Programs is in the appendix. Domestic
students may only participate in overseas programs, but international students can also participate in domestic programs.)
4. Have a cumulative GPA of at least 3.00 at the time of graduation.
5. Have a cumulative GPA of at least 3.25 in IRPS Field subjects at the time of graduation.

055

Support from the IRPS Field Faculty
After students provisionally register for the IRPS Field in the 2nd semester, the IRPS Field faculty will provide them with supervision andencouragement to complete the Honors Program and receive the certification. Seminar instructors provide primary guidance and support once
students begin taking seminars in the 5th semester.

Honors Certification
Students who complete the Honors Program receive an Honors Certificate in International Relations and Peace Studies at the time of graduate thatis signed by the Dean of the College of Asia Pacific Studies and conferred by the IRPS Field Leader. As a general rule, this certificate cannot bereissued.

For more information about the program, contact:
HIRANO Miharu (IR Field Leader)E-mail: m-hirano@apu.ac.jp056

Appendix: Eligible Off-Campus Programs
Domestic

Programstudents

International students✕〇(i) FIRST Program (Overseas)(Only available for Japanese-basis
students)(ii) FIRST Program (Domestic)✕〇(iii) SECOND Program〇〇(iv) English immersion programs〇(Only available for Japanese-basis✕
students)〇〇(v) AP Language immersion programs(Only available for non-native
speakers)✕〇(vi) SEND Program(Only available for native Japanese
speakers)△〇(vii) Service learning programs(Priority will be given to Japanesebasis students)(viii) Internships(Contract-basis; with overseas companies or organizations)(xi) Internships(Contract-basis; with Japanese companies or organizations)

〇

〇

✕

〇

〇

(Only available for Japanese-basis✕(x) Global Communication Program (GCP)

students)(xi) Field Study (Overseas)〇〇(xii) Field Study (Domestic)✕〇(xiii) Field Research Project (Overseas)〇〇(xiv) Field Research Project (Domestic)

✕

〇

〇

〇

〇

(In countries other than their home(xv) Overseas summer programs(*Only programs designated by APU and offered at our partner
schools)〇(xvi) Exchange programs (at foreign partner universities)

country)057

Domestic

Programstudents

International students〇〇(xvii) Dual degree programs(In countries other than their homecountry)* Domestic exchange (i.e., credit transfer) programs with Ritsumeikan University (RU) or other Japanese universities are not eligible.
* This list is subject to change (i.e., addition or deletion) depending on the development of new programs or review of existing ones.

058

APS 2017カリキュラム図(追加) 海外集中言語研修● 各学修分野の必修科目※１この表に記載されている科目は、毎セメスター開講されるとは限りません。開講される科目の詳細は、シラバスか時間割を確認してください。
※２「コア科目」または「APS共通」に配置された科目を履修して修得した単位はいずれの学修分野にも集計されません。
※３「APS共通B」または「演習」に配置された科目を履修して修得した単位は、全ての学修分野に集計されます。

4(追加)
インターンシップ

059

4

4

$36崓嵒崕嵍嵑嵈ఐ৯঳༮$36&XUULFXOXP6XEMHFW/LVW
ఐ৯崛嵤崱

ী৙

ఐ৯੡

౐ਜ਼ਯ

ଦਊ
崣嵉崡崧嵤

ఐ৯崲嵛崸嵤

৐઀ఐ৯-67৐઀ఐ৯-$7

৐઀ఐ৯(

ളਯ৚ਭ൥

6XEMHFW&RGH)LHOG

6XEMHFW1DPH&UHGLWV

6HPHVWHU&RXUVH
1XPEHU

3UHUHTXLVLWH6XEMHFWVIRU-676WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU-$76WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU(6WXGHQWV

5HUHJLVWUDWLRQ
3RVVLEOH3)௬੼

၎ఊ਑଒‫ق‬-67-$7(‫ك‬3)&RXUVH5HJLVWUDWLRQ5HVWULFWLRQV(YDOXDWLRQ‫ق‬-67-$7(‫ك‬&DPSXVPDWH౐ਜ਼ૐੑী৙
&UHGLW5HTXLUHPHQW$UHDRQ&DPSXVPDWH൷൥ফ২/DVW<HDU
2IIHUHG$36-67$36-$7$36(

੉ୁ঩মୁੂ௻⋛
/DQJXDJH -DSDQHVH)RXQGDWLRQ&RXUVH,





>@
>/$1@
>-31@(峘峩(RQO\঩মୁ-DSDQHVH



੉ୁ঩মୁੂ௻⋜
/DQJXDJH -DSDQHVH)RXQGDWLRQ&RXUVH,,





>@
>/$1@
>-31@(峘峩(RQO\঩মୁ-DSDQHVH(峘峩(RQO\঩মୁ-DSDQHVH



੉ୁ঩মୁੂ௻⋝
/DQJXDJH -DSDQHVH)RXQGDWLRQ&RXUVH,,,





>@
>/$1@
>-31@



੉ୁ঩মୁর௻/DQJXDJH -DSDQHVH,QWHUPHGLDWH&RXUVH





>@
>/$1@
>-31@

嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,(峘峩(RQO\঩মୁ-DSDQHVH



੉ୁ঩মୁর঱௻
/DQJXDJH 3UH$GYDQFHG-DSDQHVH





>@
>/$1@
>-31@

嵣঩মୁর௻-DSDQHVH,QWHUPHGLDWH&RXUVH(峘峩(RQO\

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ঩মୁ঱௻/DQJXDJH $GYDQFHG-DSDQHVH





>@
>/$1@
>-31@

嵣঩মୁর঱௻3UH$GYDQFHG-DSDQHVH(峘峩(RQO\

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁরবୁ⋛/DQJXDJH &KLQHVH,





>@
>/$1@
>&+,@

嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁরবୁ⋜/DQJXDJH &KLQHVH,,





>@
>/$1@
>&+,@

嵣রবୁ⋛&KLQHVH,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣রবୁ⋛&KLQHVH,嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣রবୁ⋛&KLQHVH,੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁরবୁ⋝/DQJXDJH &KLQHVH,,,





>@
>/$1@
>&+,@

嵣রবୁ⋜&KLQHVH,,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣রবୁ⋜&KLQHVH,,嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣রবୁ⋜&KLQHVH,,ফ২峼ਈ৏峕൷൥/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁরবୁ⋞/DQJXDJH &KLQHVH,9





>@
>/$1@
>&+,@

嵣রবୁ⋝&KLQHVH,,,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣রবୁ⋝&KLQHVH,,,嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣রবୁ⋝&KLQHVH,,,ফ২峼ਈ৏峕൷൥/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ஻বୁ⋛/DQJXDJH .RUHDQ,





>@
>/$1@
>.25@

嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ஻বୁ⋜/DQJXDJH .RUHDQ,,





>@
>/$1@
>.25@

嵣஻বୁ⋛.RUHDQ,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣஻বୁ⋛.RUHDQ,嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣஻বୁ⋛.RUHDQ,੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ஻বୁ⋝/DQJXDJH .RUHDQ,,,





>@
>/$1@
>.25@

嵣஻বୁ⋜.RUHDQ,,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣஻বୁ⋜.RUHDQ,,嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣஻বୁ⋜.RUHDQ,,ফ২峼ਈ৏峕൷൥/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ஻বୁ⋞/DQJXDJH .RUHDQ,9





>@
>/$1@
>.25@

嵣஻বୁ⋝.RUHDQ,,,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣஻বୁ⋝.RUHDQ,,,嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣஻বୁ⋝.RUHDQ,,,ফ২峼ਈ৏峕൷൥/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ嵆嵔嵤ୁҩ崌嵛崱崵崟崊ୁ⋛
/DQJXDJH 0DOD\,QGRQHVLDQ,





>@
>/$1@
>0$,@

嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,ফ২峼ਈ৏峕൷൥/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ嵆嵔嵤ୁҩ崌嵛崱崵崟崊ୁ⋜
/DQJXDJH 0DOD\,QGRQHVLDQ,,





>@
>/$1@
>0$,@

嵣嵆嵔嵤ୁҩ崌嵛崱崵崟崊ୁ⋛
0DOD\,QGRQHVLDQ,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣嵆嵔嵤ୁҩ崌嵛崱崵崟崊ୁ⋛
0DOD\,QGRQHVLDQ,嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣嵆嵔嵤ୁҩ崌嵛崱崵崟崊ୁ⋛
0DOD\,QGRQHVLDQ,ফ২峼ਈ৏峕൷൥/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ嵆嵔嵤ୁҩ崌嵛崱崵崟崊ୁ⋝
/DQJXDJH 0DOD\,QGRQHVLDQ,,,





>@
>/$1@
>0$,@

嵣嵆嵔嵤ୁҩ崌嵛崱崵崟崊ୁ⋜
0DOD\,QGRQHVLDQ,,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣嵆嵔嵤ୁҩ崌嵛崱崵崟崊ୁ⋜
0DOD\,QGRQHVLDQ,,嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣嵆嵔嵤ୁҩ崌嵛崱崵崟崊ୁ⋜
0DOD\,QGRQHVLDQ,,ফ২峼ਈ৏峕൷൥/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ嵆嵔嵤ୁҩ崌嵛崱崵崟崊ୁ⋞
/DQJXDJH 0DOD\,QGRQHVLDQ,9





>@
>/$1@
>0$,@

嵣嵆嵔嵤ୁҩ崌嵛崱崵崟崊ୁ⋝
0DOD\,QGRQHVLDQ,,,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣嵆嵔嵤ୁҩ崌嵛崱崵崟崊ୁ⋝
0DOD\,QGRQHVLDQ,,,嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣嵆嵔嵤ୁҩ崌嵛崱崵崟崊ୁ⋝
0DOD\,QGRQHVLDQ,,,ফ২峼ਈ৏峕൷൥/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ崡嵂崌嵛ୁ⋛
/DQJXDJH 6SDQLVK,





>@
>/$1@
>63$@

嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ崡嵂崌嵛ୁ⋜
/DQJXDJH 6SDQLVK,,





>@
>/$1@
>63$@

嵣崡嵂崌嵛ୁ⋛6SDQLVK,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣崡嵂崌嵛ୁ⋛6SDQLVK,੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV嵣崡嵂崌嵛ୁ⋛6SDQLVK,060

$36崓嵒崕嵍嵑嵈ఐ৯঳༮$36&XUULFXOXP6XEMHFW/LVW
ఐ৯崛嵤崱

ী৙

ఐ৯੡

౐ਜ਼ਯ

ଦਊ
崣嵉崡崧嵤

ఐ৯崲嵛崸嵤

৐઀ఐ৯-67৐઀ఐ৯-$7

৐઀ఐ৯(

ളਯ৚ਭ൥

6XEMHFW&RGH)LHOG

6XEMHFW1DPH&UHGLWV

6HPHVWHU&RXUVH
1XPEHU

3UHUHTXLVLWH6XEMHFWVIRU-676WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU-$76WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU(6WXGHQWV

5HUHJLVWUDWLRQ
3RVVLEOH3)௬੼

၎ఊ਑଒‫ق‬-67-$7(‫ك‬3)&RXUVH5HJLVWUDWLRQ5HVWULFWLRQV(YDOXDWLRQ‫ق‬-67-$7(‫ك‬&DPSXVPDWH౐ਜ਼ૐੑী৙
&UHGLW5HTXLUHPHQW$UHDRQ&DPSXVPDWH൷൥ফ২/DVW<HDU
2IIHUHG$36-67$36-$7$36(ফ২峼ਈ৏峕൷൥/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWVফ২峼ਈ৏峕൷൥/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ崡嵂崌嵛ୁ⋝
/DQJXDJH 6SDQLVK,,,





>@
>/$1@
>63$@

嵣崡嵂崌嵛ୁ⋜6SDQLVK,,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣崡嵂崌嵛ୁ⋜6SDQLVK,,嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣崡嵂崌嵛ୁ⋜6SDQLVK,,

੉ୁ崡嵂崌嵛ୁ⋞
/DQJXDJH 6SDQLVK,9





>@
>/$1@
>63$@

嵣崡嵂崌嵛ୁ⋝6SDQLVK,,,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣崡嵂崌嵛ୁ⋝6SDQLVK,,,嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣崡嵂崌嵛ୁ⋝6SDQLVK,,,

੉ୁ崧崌ୁ⋛/DQJXDJH 7KDL,





>@
>/$1@
>7+$@

嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%

੉ୁ崧崌ୁ⋜/DQJXDJH 7KDL,,





>@
>/$1@
>7+$@

嵣崧崌ୁ⋛7KDL,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣崧崌ୁ⋛7KDL,嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣崧崌ୁ⋛7KDL,

੉ୁ崧崌ୁ⋝/DQJXDJH 7KDL,,,





>@
>/$1@
>7+$@

嵣崧崌ୁ⋜7KDL,,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣崧崌ୁ⋜7KDL,,嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣崧崌ୁ⋜7KDL,,ফ২峼ਈ৏峕൷൥/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ崧崌ୁ⋞/DQJXDJH 7KDL,9





>@
>/$1@
>7+$@

嵣崧崌ୁ⋝7KDL,,,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣崧崌ୁ⋝7KDL,,,嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣崧崌ୁ⋝7KDL,,,ফ২峼ਈ৏峕൷൥/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ嵁崰崲嵈ୁ⋛
/DQJXDJH 9LHWQDPHVH,





>@
>/$1@
>9,(@

嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ嵁崰崲嵈ୁ⋜
/DQJXDJH 9LHWQDPHVH,,





>@
>/$1@
>9,(@

嵣嵁崰崲嵈ୁ⋛9LHWQDPHVH,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣嵁崰崲嵈ୁ⋛9LHWQDPHVH,嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣嵁崰崲嵈ୁ⋛9LHWQDPHVH,੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ嵁崰崲嵈ୁ⋝
/DQJXDJH 9LHWQDPHVH,,,





>@
>/$1@
>9,(@

嵣嵁崰崲嵈ୁ⋜9LHWQDPHVH,,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣嵁崰崲嵈ୁ⋜9LHWQDPHVH,,嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣嵁崰崲嵈ୁ⋜9LHWQDPHVH,,ফ২峼ਈ৏峕൷൥/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ嵁崰崲嵈ୁ⋞
/DQJXDJH 9LHWQDPHVH,9





>@
>/$1@
>9,(@

嵣嵁崰崲嵈ୁ⋝9LHWQDPHVH,,,嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%嵣嵁崰崲嵈ୁ⋝9LHWQDPHVH,,,嵣঩মୁੂ௻⋛-DSDQHVH)RXQGDWLRQ&RXUVH,嵣঩মୁੂ௻⋜-DSDQHVH)RXQGDWLRQ&RXUVH,,嵣঩মୁੂ௻⋝-DSDQHVH)RXQGDWLRQ&RXUVH,,,嵣嵁崰崲嵈ୁ⋝9LHWQDPHVH,,,ফ২峼ਈ৏峕൷൥/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁஶୁੂ௻$/DQJXDJH (OHPHQWDU\(QJOLVK$





>@
>/$1@
>(1*@

-67峘峩
প৾岶ఃஈ
-67RQO\
5HJLVWHUHGE\XQLYHUVLW\ஶୁ(QJOLVK

੉ୁஶୁੂ௻%/DQJXDJH (OHPHQWDU\(QJOLVK%





>@
>/$1@
>(1*@

-67峘峩
প৾岶ఃஈ
-67RQO\
5HJLVWHUHGE\XQLYHUVLW\ஶୁ(QJOLVK

੉ୁஶୁ૆র௻$
/DQJXDJH 3UH,QWHUPHGLDWH(QJOLVK$





>@
>/$1@
>(1*@

嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%

-67峘峩
প৾岶ఃஈ
-67RQO\
5HJLVWHUHGE\XQLYHUVLW\ஶୁ(QJOLVK

੉ୁஶୁ૆র௻%
/DQJXDJH 3UH,QWHUPHGLDWH(QJOLVK%





>@
>/$1@
>(1*@

嵣ஶୁੂ௻$(OHPHQWDU\(QJOLVK$嵣ஶୁੂ௻%(OHPHQWDU\(QJOLVK%

-67峘峩
প৾岶ఃஈ
-67RQO\
5HJLVWHUHGE\XQLYHUVLW\ஶୁ(QJOLVK

੉ୁஶୁর௻$/DQJXDJH ,QWHUPHGLDWH(QJOLVK$





>@
>/$1@
>(1*@

嵣ஶୁ૆র௻$3UH,QWHUPHGLDWH(QJOLVK$嵣ஶୁ૆র௻%3UH,QWHUPHGLDWH(QJOLVK%

-67峘峩
প৾岶ఃஈ
-67RQO\
5HJLVWHUHGE\XQLYHUVLW\ஶୁ(QJOLVK

੉ୁஶୁর௻%/DQJXDJH ,QWHUPHGLDWH(QJOLVK%





>@
>/$1@
>(1*@

嵣ஶୁ૆র௻$3UH,QWHUPHGLDWH(QJOLVK$嵣ஶୁ૆র௻%3UH,QWHUPHGLDWH(QJOLVK%

-67峘峩
প৾岶ఃஈ
-67RQO\
5HJLVWHUHGE\XQLYHUVLW\ஶୁ(QJOLVK

੉ୁஶୁ૆঱௻$
/DQJXDJH 8SSHU,QWHUPHGLDWH(QJOLVK$





>@
>/$1@
>(1*@

嵣ஶୁর௻$,QWHUPHGLDWH(QJOLVK$嵣ஶୁর௻%,QWHUPHGLDWH(QJOLVK%

-67峘峩
প৾岶ఃஈ
-67RQO\
5HJLVWHUHGE\XQLYHUVLW\ஶୁ(QJOLVK

੉ୁஶୁ૆঱௻%
/DQJXDJH 8SSHU,QWHUPHGLDWH(QJOLVK%





>@
>/$1@
>(1*@

嵣ஶୁর௻$,QWHUPHGLDWH(QJOLVK$嵣ஶୁর௻%,QWHUPHGLDWH(QJOLVK%

-67峘峩
প৾岶ఃஈ
-67RQO\
5HJLVWHUHGE\XQLYHUVLW\ஶୁ(QJOLVK

੉ୁஶୁ঱௻$
/DQJXDJH $GYDQFHG(QJOLVK$



>@
>/$1@
>(1*@

嵣ஶୁ૆঱௻$8SSHU,QWHUPHGLDWH(QJOLVK$嵣ஶୁ૆঱௻%8SSHU,QWHUPHGLDWH(QJOLVK%-$7‫؟‬প৾岶ఃஈ
-67‫؟‬%਋৑岵峳(‫؟‬হ৐ணட岶૑ਏ岞ୁ৾ਏ੯થ岞%਋৑
岵峳-$75HJLVWHUHGE\XQLYHUVLW\-67‫؟‬$YDLODEOHIURP3HULRG%(3ULRUDSSOLFDWLRQUHTXLUHG7KHUH
LVDODQJXDJHUHTXLUHPHQW$YDLODEOHIURP3HULRG%੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWVஶୁ(QJOLVK੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁஶୁ঱௻%
/DQJXDJH $GYDQFHG(QJOLVK%





>@
>/$1@
>(1*@

嵣ஶୁ૆঱௻$8SSHU,QWHUPHGLDWH(QJOLVK$嵣ஶୁ૆঱௻%8SSHU,QWHUPHGLDWH(QJOLVK%-$7‫؟‬প৾岶ఃஈ
-67‫؟‬%਋৑岵峳(‫؟‬হ৐ணட岶૑ਏ岞ୁ৾ਏ੯થ岞%਋৑
岵峳-$75HJLVWHUHGE\XQLYHUVLW\-67‫؟‬$YDLODEOHIURP3HULRG%(3ULRUDSSOLFDWLRQUHTXLUHG7KHUH
LVDODQJXDJHUHTXLUHPHQW$YDLODEOHIURP3HULRG%੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWVஶୁ(QJOLVK੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁஶୁ঱௻$
/DQJXDJH $GYDQFHG(QJOLVK$





>@
>/$1@
>(1*@

嵣ஶୁ঱௻$$GYDQFHG(QJOLVK$嵣ஶୁ঱௻%$GYDQFHG(QJOLVK%嵣ஶୁ঱௻$$GYDQFHG(QJOLVK$嵣ஶୁ঱௻%$GYDQFHG(QJOLVK%-$7‫؟‬প৾岶ఃஈ
-67(‫؟‬%਋৑岵峳-$75HJLVWHUHGE\XQLYHUVLW\-67($YDLODEOHIURP3HULRG%੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWVஶୁ(QJOLVK੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁஶୁ঱௻%
/DQJXDJH $GYDQFHG(QJOLVK%





>@
>/$1@
>(1*@

嵣ஶୁ঱௻$$GYDQFHG(QJOLVK$嵣ஶୁ঱௻%$GYDQFHG(QJOLVK%嵣ஶୁ঱௻$$GYDQFHG(QJOLVK$嵣ஶୁ঱௻%$GYDQFHG(QJOLVK%-$7‫؟‬প৾岶ఃஈ
-67(‫؟‬%਋৑岵峳-$75HJLVWHUHGE\XQLYHUVLW\-67($YDLODEOHIURP3HULRG%੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWVஶୁ(QJOLVK੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

061

$36崓嵒崕嵍嵑嵈ఐ৯঳༮$36&XUULFXOXP6XEMHFW/LVW
ఐ৯崛嵤崱

ী৙

ఐ৯੡

౐ਜ਼ਯ

ଦਊ
崣嵉崡崧嵤

ఐ৯崲嵛崸嵤

৐઀ఐ৯-67৐઀ఐ৯-$7

৐઀ఐ৯(

ളਯ৚ਭ൥

6XEMHFW&RGH)LHOG

6XEMHFW1DPH&UHGLWV

6HPHVWHU&RXUVH
1XPEHU

3UHUHTXLVLWH6XEMHFWVIRU-676WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU-$76WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU(6WXGHQWV

5HUHJLVWUDWLRQ
3RVVLEOH3)௬੼

၎ఊ਑଒‫ق‬-67-$7(‫ك‬3)&RXUVH5HJLVWUDWLRQ5HVWULFWLRQV(YDOXDWLRQ‫ق‬-67-$7(‫ك‬&DPSXVPDWH౐ਜ਼ૐੑী৙
&UHGLW5HTXLUHPHQW$UHDRQ&DPSXVPDWH൷൥ফ২/DVW<HDU
2IIHUHG$36-67$36-$7$36(੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ൥ଝ峘঩মୁ
/DQJXDJH -DSDQHVHIRU/HFWXUHV





>@
>/$1@
>-31@

嵣঩মୁ঱௻$GYDQFHG-DSDQHVH঩মୁ੦૆ব৔৾ে岴峲峝঩মୁಟୁਵ
ফ২峼ਈ৏峕঻峙ਭ൥ਂ૭൷൥-DSDQHVHEDVLVGRPHVWLFVWXGHQWV/DVWRIIHUHGLQ
DQGQDWLYH-DSDQHVHVSHDNHUVFDQ$<QRWUHJLVWHU

੉ୁ঩মୁ崿嵕崠崏崗崰$
/DQJXDJH -DSDQHVH3URMHFW$





>@
>/$1@
>-31@

嵣঩মୁর௻-DSDQHVH,QWHUPHGLDWH&RXUVH(峘峩‫ق‬঩মୁಟୁਵ঻峼௾岹‫ك‬঩মୁর௻ఊവ岵峎঩মୁ঱௻౞ఊവ
(RQO\‫[(ق‬FOXGLQJQDWLYH-DSDQHVHVSHDNHUV‫ك‬-DSDQHVH,QWHUPHGLDWH&RXUVH
FRPSOHWHGDQG$GYDQFHG-DSDQHVH,QFRPSOHWH

ফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ঩মୁ崿嵕崠崏崗崰%
/DQJXDJH -DSDQHVH3URMHFW%





>@
>/$1@
>-31@

嵣঩মୁর௻-DSDQHVH,QWHUPHGLDWH&RXUVH(峘峩‫ق‬঩মୁಟୁਵ঻峼௾岹‫ك‬঩মୁর௻ఊവ岵峎঩মୁ঱௻౞ఊവ
ফ২峼ਈ৏峕(RQO\‫[(ق‬FOXGLQJQDWLYH-DSDQHVH൷൥VSHDNHUV‫ك‬/DVWRIIHUHGLQ-DSDQHVH,QWHUPHGLDWH&RXUVH$<FRPSOHWHGDQG$GYDQFHG-DSDQHVH,QFRPSOHWH੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ঩মୁ崿嵕崠崏崗崰&
/DQJXDJH -DSDQHVH3URMHFW&





>@
>/$1@
>-31@

嵣঩মୁর௻-DSDQHVH,QWHUPHGLDWH&RXUVH(峘峩‫ق‬঩মୁಟୁਵ঻峼௾岹‫ك‬঩মୁর௻ఊവ岵峎঩মୁর঱௻౞ఊവ(RQO\‫[(ق‬FOXGLQJQDWLYH-DSDQHVHVSHDNHUV‫ك‬-DSDQHVH,QWHUPHGLDWH&RXUVH
FRPSOHWHGDQG3UH$GYDQFHG-DSDQHVH,QFRPSOHWH੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ঩মୁ崿嵕崠崏崗崰'
/DQJXDJH -DSDQHVH3URMHFW'





>@
>/$1@
>-31@

嵣঩মୁ঱௻$GYDQFHG-DSDQHVH঩মୁ੦૆ব৔৾ে岴峲峝঩মୁಟୁਵ
ফ২峼ਈ৏峕঻峙ਭ൥ਂ૭൷൥-DSDQHVHEDVLVGRPHVWLFVWXGHQWV/DVWRIIHUHGLQ
DQGQDWLYH-DSDQHVHVSHDNHUVFDQ$<QRWUHJLVWHU੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ঩মୁ崿嵕崠崏崗崰(
/DQJXDJH -DSDQHVH3URMHFW(





>@
>/$1@
>-31@

嵣঩মୁ঱௻$GYDQFHG-DSDQHVH঩মୁ੦૆ব৔৾ে岴峲峝঩মୁಟୁਵ
ফ২峼ਈ৏峕঻峙ਭ൥ਂ૭൷൥-DSDQHVHEDVLVGRPHVWLFVWXGHQWV/DVWRIIHUHGLQ
DQGQDWLYH-DSDQHVHVSHDNHUVFDQ$<QRWUHJLVWHU੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ঩মୁ崿嵕崠崏崗崰)
/DQJXDJH -DSDQHVH3URMHFW)





>@
>/$1@
>-31@

嵣঩মୁ঱௻$GYDQFHG-DSDQHVH঩মୁ੦૆ব৔৾ে岴峲峝঩মୁಟୁਵ
ফ২峼ਈ৏峕঻峙ਭ൥ਂ૭൷൥-DSDQHVHEDVLVGRPHVWLFVWXGHQWV/DVWRIIHUHGLQ
DQGQDWLYH-DSDQHVHVSHDNHUVFDQ$<QRWUHJLVWHU੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁஶୁ崻崠崵崡嵣嵑崌崮崋嵛崘
/DQJXDJH (QJOLVKIRU%XVLQHVV:ULWLQJ





>@
>/$1@
>(1*@

嵣ஶୁ૆঱௻$8SSHU,QWHUPHGLDWH(QJOLVK$嵣ஶୁ૆঱௻%8SSHU,QWHUPHGLDWH(QJOLVK%-67峘峩
-67RQO\

ফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁஶୁ崻崠崵崡嵣崿嵔崤嵛崮嵤崟嵏嵛
/DQJXDJH (QJOLVKIRU%XVLQHVV3UHVHQWDWLRQV





>@
>/$1@
>(1*@

嵣ஶୁ૆঱௻$8SSHU,QWHUPHGLDWH(QJOLVK$嵣ஶୁ૆঱௻%8SSHU,QWHUPHGLDWH(QJOLVK%-67峘峩
-67RQO\

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁஶୁ崯崋崡崓崫崟嵏嵛峒崯崋嵁嵤崰
/DQJXDJH (QJOLVKIRU'LVFXVVLRQDQG'HEDWH





>@
>/$1@
>(1*@

嵣ஶୁ૆঱௻$8SSHU,QWHUPHGLDWH(QJOLVK$嵣ஶୁ૆঱௻%8SSHU,QWHUPHGLDWH(QJOLVK%-67峘峩
-67RQO\

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁஶୁ崿嵕崠崏崗崰
/DQJXDJH (QJOLVK3URMHFW





>@
>/$1@
>(1*@

嵣ஶୁ૆঱௻$8SSHU,QWHUPHGLDWH(QJOLVK$嵣ஶୁ૆঱௻%8SSHU,QWHUPHGLDWH(QJOLVK%-67峘峩
-67RQO\

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ崻崠崵崡ஶୁ
/DQJXDJH (QJOLVKIRU%XVLQHVV





>@
>/$1@
>(1*@

嵣ஶୁ঱௻$$GYDQFHG(QJOLVK$嵣ஶୁ঱௻%$GYDQFHG(QJOLVK%嵣ஶୁ঱௻$$GYDQFHG(QJOLVK$嵣ஶୁ঱௻%$GYDQFHG(QJOLVK%-$7‫؟‬$਋৑岵峳-67(‫؟‬%਋৑岵峳-$7$YDLODEOHIURP3HULRG$-67($YDLODEOHIURP3HULRG%੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ崻崠崵崡ஶୁ
/DQJXDJH (QJOLVKIRU%XVLQHVV





>@
>/$1@
>(1*@

嵣ஶୁ঱௻$$GYDQFHG(QJOLVK$嵣ஶୁ঱௻%$GYDQFHG(QJOLVK%嵣ஶୁ঱௻$$GYDQFHG(QJOLVK$嵣ஶୁ঱௻%$GYDQFHG(QJOLVK%-$7‫؟‬$਋৑岵峳-67(‫؟‬%਋৑岵峳-$7$YDLODEOHIURP3HULRG$-67($YDLODEOHIURP3HULRG%੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁஶୁ੗ഭ/DQJXDJH ([WHQVLYH5HDGLQJLQ(QJOLVK





>@
>/$1@
>(1*@

嵣ஶୁ঱௻$$GYDQFHG(QJOLVK$嵣ஶୁ঱௻%$GYDQFHG(QJOLVK%嵣ஶୁ঱௻$$GYDQFHG(QJOLVK$嵣ஶୁ঱௻%$GYDQFHG(QJOLVK%-$7‫؟‬$਋৑岵峳-67(‫؟‬%਋৑岵峳-$7$YDLODEOHIURP3HULRG$-67($YDLODEOHIURP3HULRG%੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁஶୁ崿嵕崠崏崗崰
/DQJXDJH (QJOLVK3URMHFW





>@
>/$1@
>(1*@

嵣ஶୁ঱௻$$GYDQFHG(QJOLVK$嵣ஶୁ঱௻%$GYDQFHG(QJOLVK%嵣ஶୁ঱௻$$GYDQFHG(QJOLVK$嵣ஶୁ঱௻%$GYDQFHG(QJOLVK%-$7‫؟‬$਋৑岵峳-67(‫؟‬%਋৑岵峳-$7$YDLODEOHIURP3HULRG$-67($YDLODEOHIURP3HULRG%ফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ঩মୁ$/DQJXDJH -DSDQHVH$







‫س‬

(峘峩
(RQO\

൷൥
1RWRIIHUHG
DQ\PRUH੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ঩মୁ%/DQJXDJH -DSDQHVH%







‫س‬

(峘峩
(RQO\

൷൥
1RWRIIHUHG
DQ\PRUH੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ঩মୁ&/DQJXDJH -DSDQHVH&







‫س‬

(峘峩
(RQO\

൷൥
1RWRIIHUHG
DQ\PRUH੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁਲਗૐর੉ୁଢ଼ఊ
/DQJXDJH ,QWHQVLYH/DQJXDJH/HDUQLQJ2YHUVHDV





>@
>/$1@
>66@

‫س‬੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁਲਗૐর੉ୁଢ଼ఊ
/DQJXDJH ,QWHQVLYH/DQJXDJH/HDUQLQJ2YHUVHDV





>@
>/$1@
>66@

‫س‬হ৐ணட峕੦峏岷প৾岶ఃஈ岞崿嵕崘嵑嵈峕峲峴૖੯岶౮峔峵
5HJLVWHUHGE\XQLYHUVLW\EDVHGRQ
SULRUDSSOLFDWLRQE\VWXGHQW&RQGLWLRQVGLIIHUEHWZHHQSURJUDPV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ崕嵋嵒崊঩মୁ
/DQJXDJH &DUHHU-DSDQHVH





>@
>/$1@
>-31@

঩মୁ੦૆ব৔৾ে岴峲峝঩মୁಟୁਵ
঻峙ਭ൥ਂ૭-DSDQHVHEDVLVGRPHVWLFVWXGHQWV
DQGQDWLYH-DSDQHVHVSHDNHUVFDQ
QRWUHJLVWHU੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV嵣঩মୁ঱௻$GYDQFHG-DSDQHVH

062ফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

ফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

$36崓嵒崕嵍嵑嵈ఐ৯঳༮$36&XUULFXOXP6XEMHFW/LVW
ఐ৯崛嵤崱

ী৙

ఐ৯੡

౐ਜ਼ਯ

ଦਊ
崣嵉崡崧嵤

ఐ৯崲嵛崸嵤

৐઀ఐ৯-67৐઀ఐ৯-$7

৐઀ఐ৯(

ളਯ৚ਭ൥

6XEMHFW&RGH)LHOG

6XEMHFW1DPH&UHGLWV

6HPHVWHU&RXUVH
1XPEHU

3UHUHTXLVLWH6XEMHFWVIRU-676WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU-$76WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU(6WXGHQWV

5HUHJLVWUDWLRQ
3RVVLEOH3)௬੼

၎ఊ਑଒‫ق‬-67-$7(‫ك‬3)&RXUVH5HJLVWUDWLRQ5HVWULFWLRQV(YDOXDWLRQ‫ق‬-67-$7(‫ك‬&DPSXVPDWH౐ਜ਼ૐੑী৙
&UHGLW5HTXLUHPHQW$UHDRQ&DPSXVPDWH൷൥ফ২/DVW<HDU
2IIHUHG$36-67$36-$7$36(

੉ୁ঩মୁ崻崠崵崡崛嵇嵍崳崙嵤崟嵏嵛$
/DQJXDJH %XVLQHVV&RPPXQLFDWLRQLQ-DSDQHVH$





>@
>/$1@
>-31@

嵣঩মୁ঱௻$GYDQFHG-DSDQHVH঩মୁ੦૆ব৔৾ে岴峲峝঩মୁಟୁਵ
ফ২峼ਈ৏峕঻峙ਭ൥ਂ૭൷൥-DSDQHVHEDVLVGRPHVWLFVWXGHQWV/DVWRIIHUHGLQ
DQGQDWLYH-DSDQHVHVSHDNHUVFDQ$<QRWUHJLVWHU੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ঩মୁ崻崠崵崡崛嵇嵍崳崙嵤崟嵏嵛%
/DQJXDJH %XVLQHVV&RPPXQLFDWLRQLQ-DSDQHVH%





>@
>/$1@
>-31@

嵣঩মୁ঱௻$GYDQFHG-DSDQHVH঩মୁ੦૆ব৔৾ে岴峲峝঩মୁಟୁਵ
ফ২峼ਈ৏峕঻峙ਭ൥ਂ૭൷൥-DSDQHVHEDVLVGRPHVWLFVWXGHQWV/DVWRIIHUHGLQ
DQGQDWLYH-DSDQHVHVSHDNHUVFDQ$<QRWUHJLVWHU੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ঩মୁ嵣঩মધ৲
/DQJXDJH /DQJXDJHDQG&XOWXUHLQ-DSDQ





>@
>/$1@
>-31@

嵣঩মୁ঱௻$GYDQFHG-DSDQHVH঩মୁ੦૆ব৔৾ে岴峲峝঩মୁಟୁਵ
঻峙ਭ൥ਂ૭-DSDQHVHEDVLVGRPHVWLFVWXGHQWV
DQGQDWLYH-DSDQHVHVSHDNHUVFDQ
QRWUHJLVWHU੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ঩মୁ嵣঩ম঺ভ
/DQJXDJH /DQJXDJHDQG6RFLDO7RSLFVLQ-DSDQ





>@
>/$1@
>-31@

嵣঩মୁ঱௻$GYDQFHG-DSDQHVH঩মୁ੦૆ব৔৾ে岴峲峝঩মୁಟୁਵ
঻峙ਭ൥ਂ૭-DSDQHVHEDVLVGRPHVWLFVWXGHQWV
DQGQDWLYH-DSDQHVHVSHDNHUVFDQ
QRWUHJLVWHU੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁஶୁਫ਼৒૥ୡৌੁ൥ౠ⋛/DQJXDJH (QJOLVK3URILFLHQF\7HVW3UHSDUDWLRQ&RXUVH,





>@
>/$1@
>(1*@

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁஶୁਫ਼৒૥ୡৌੁ൥ౠ⋜/DQJXDJH (QJOLVK3URILFLHQF\7HVW3UHSDUDWLRQ&RXUVH,,





>@
>/$1@
>(1*@

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁஶୁਫ਼৒૥ୡৌੁ൥ౠ⋝/DQJXDJH (QJOLVK3URILFLHQF\7HVW3UHSDUDWLRQ&RXUVH,,,





>@
>/$1@
>(1*@

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ嵉崯崋崊峘峔岵峘ஶୁ
/DQJXDJH (QJOLVKRIWKH0HGLD





>@
>/$1@
>(1*@

嵣ஶୁ঱௻$$GYDQFHG(QJOLVK$嵣ஶୁ঱௻%$GYDQFHG(QJOLVK%-$7‫؟‬$਋৑岵峳-67(‫؟‬%਋৑岵峳-$7$YDLODEOHIURP3HULRG$-67($YDLODEOHIURP3HULRG%੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ崠嵋嵤崲嵒崢嵈峘峉峫峘ஶୁ
/DQJXDJH (QJOLVKIRU-RXUQDOLVP





>@
>/$1@
>(1*@

嵣ஶୁ૆঱௻$8SSHU,QWHUPHGLDWH(QJOLVK$嵣ஶୁ૆঱௻%8SSHU,QWHUPHGLDWH(QJOLVK%-67峘峩
-67RQO\

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ
7(62//DQJXDJH 7(62/





>@
>/$1@
>66@

嵣ஶୁ঱௻$$GYDQFHG(QJOLVK$嵣ஶୁ঱௻%$GYDQFHG(QJOLVK%੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁ
-DSDQHVH/LQJXLVWLFVIRU-DSDQHVH/DQJXDJH
/DQJXDJH





>@
>/$1@
>66@

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ崊崠崊୬਴ஞ੉ୁো୅
/DQJXDJH ,QWURGXFWLRQWR$VLD3DFLILF/DQJXDJHV





>@
>/$1@
>66@

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ
,QWURGXFWLRQWR2IILFLDO/DQJXDJHVRIWKH8QLWHG
/DQJXDJH





>@
>/$1@
>66@

ফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV





>@
>/$1@
>66@

ফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁ,QWURGXFWLRQWR2IILFLDO/DQJXDJHVRIWKH8QLWHG
/DQJXDJH





>@
>/$1@
>66@

ফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ঩মୁઇ౸১
/DQJXDJH -DSDQHVH/DQJXDJH7HDFKLQJ





>@
>/$1@
>66@

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

੉ୁ્໰൥ଝ‫ୁ੉ق‬ઇ୘ఐ৯‫ك‬/DQJXDJH 6SHFLDO/HFWXUH /DQJXDJH(GXFDWLRQ6XEMHFW





>@
>/$1@
>66@

੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWV
DQG&RPPRQ/LEHUDO$UWV
6XEMHFWV

ઇു/LEHUDO ৆੘৾ো୅$UWV,QWURGXFWLRQWR3ROLWLFDO6FLHQFH





>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO ব੠ঢ়બ૛ো୅$UWV,QWURGXFWLRQWR,QWHUQDWLRQDO5HODWLRQV





>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU,53૑ఊુৢઇുఐ৯ ,535HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU,53૑ఊુৢઇുఐ৯ ,535HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU,53૑ఊુৢઇുఐ৯ ,535HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW 

ઇു/LEHUDO ৽ੋ৾ো୅$UWV,QWURGXFWLRQWR(FRQRPLFV





>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO ધ৲嵣঺ভ৾ো୅$UWV,QWURGXFWLRQWR&XOWXUHDQG6RFLHW\





>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU&60૑ఊુৢઇുఐ৯ &605HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU&60૑ఊુৢઇുఐ৯ &605HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU&60૑ఊુৢઇുఐ৯ &605HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW 

ઇു/LEHUDO ৫৅৾ো୅$UWV,QWURGXFWLRQWR'HYHORSPHQW6WXGLHV





>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU('૑ఊુৢઇുఐ৯ ('5HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU('૑ఊુৢઇുఐ৯ ('5HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU('૑ఊુৢઇുఐ৯ ('5HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW 

ઇു/LEHUDO *,6ো୅$UWV,QWURGXFWLRQWR*,6





>@
>/,%@
>561@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO ௴୾৾ো୅$UWV,QWURGXFWLRQWR7RXULVPDQG+RVSLWDOLW\





>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU+7૑ఊુৢઇുఐ৯ +75HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU+7૑ఊુৢઇുఐ৯ +75HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU+7૑ఊુৢઇുఐ৯ +75HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW 

ઇു/LEHUDO 崌嵛崧嵤崵崫崰ো୅$UWV,QWURGXFWLRQWRWKH,QWHUQHW





>@
>/,%@
>561@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 崎崏嵓崵崡$UWV+HDOWK6FLHQFH





>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO ে୵຃৶$UWV
%LRHWKLFV>@>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV঩মୁઇ୘峘峉峫峘঩মୁ৾(GXFDWLRQব৴ਁ৷ୁ໪૛⋛1DWLRQV,ব৴ਁ৷ୁ໪૛⋜

੉ୁ
,QWURGXFWLRQWR2IILFLDO/DQJXDJHVRIWKH8QLWHG
/DQJXDJH

1DWLRQV,,ব৴ਁ৷ୁ໪૛⋝

1DWLRQV,,,嵣ஶୁ঱௻$$GYDQFHG(QJOLVK$嵣ஶୁ঱௻%$GYDQFHG(QJOLVK%嵣ஶୁ঱௻$$GYDQFHG(QJOLVK$嵣ஶୁ঱௻%$GYDQFHG(QJOLVK%嵣঩মୁ঱௻$GYDQFHG-DSDQHVH嵣঩মୁ঱௻$GYDQFHG-DSDQHVH‫س‬崗嵑崡峕峲峍峐૖੯岶౮峔峵&RQGLWLRQVGLIIHUEHWZHHQFODVVHV%਋৑岵峳$YDLODEOHIURP3HULRG%ফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

063

$36崓嵒崕嵍嵑嵈ఐ৯঳༮$36&XUULFXOXP6XEMHFW/LVW
ఐ৯崛嵤崱

ী৙

ఐ৯੡

౐ਜ਼ਯ

ଦਊ
崣嵉崡崧嵤

ఐ৯崲嵛崸嵤

৐઀ఐ৯-67৐઀ఐ৯-$7

৐઀ఐ৯(

ളਯ৚ਭ൥

6XEMHFW&RGH)LHOG

6XEMHFW1DPH&UHGLWV

6HPHVWHU&RXUVH
1XPEHU

3UHUHTXLVLWH6XEMHFWVIRU-676WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU-$76WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU(6WXGHQWV

5HUHJLVWUDWLRQ
3RVVLEOH3)௬੼

၎ఊ਑଒‫ق‬-67-$7(‫ك‬3)&RXUVH5HJLVWUDWLRQ5HVWULFWLRQV(YDOXDWLRQ‫ق‬-67-$7(‫ك‬&DPSXVPDWH౐ਜ਼ૐੑী৙
&UHGLW5HTXLUHPHQW$UHDRQ&DPSXVPDWH൷൥ফ২/DVW<HDU
2IIHUHG$36-$7$36(

ઇു/LEHUDO 崛嵛崼嵍嵤崧嵤嵒崮嵑崟嵤$UWV&RPSXWHU/LWHUDF\





>@
>/,%@
>561@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 崌嵛崧嵤崵崫崰ૼ୒ଁ়$UWV,QWHUQHW7HFKQRORJ\,QWHJUDWLRQ





>@
>/,%@
>561@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 崯嵤崧嵁嵤崡崟崡崮嵈$UWV'DWDEDVH6\VWHPV



>@
>/,%@
>561@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV$36-67

ઇു/LEHUDO ঩ম峘৽ੋ$UWV-DSDQHVH(FRQRP\





>@
>/,%@
>*&)@



ઇു/LEHUDO ঩ম峘ધ৲峒঺ভ$UWV-DSDQHVH&XOWXUHDQG6RFLHW\





>@
>/,%@
>*&)@



ઇു/LEHUDO ્໰൥ଝ‫ৢુق‬ઇുఐ৯‫ك‬$UWV
6SHFLDO/HFWXUH /LEHUDO$UWV6XEMHFW





>@
>/,%@
>561@

‫س‬崗嵑崡峕峲峍峐૖੯岶౮峔峵&RQGLWLRQVGLIIHUEHWZHHQFODVVHVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 崌嵛崧嵤嵛崟崫崿$UWV,QWHUQVKLS





>@
>/,%@
>561@

‫س‬হ৐ணட峕੦峏岷প৾岶ఃஈ岞崿嵕崘嵑嵈峕峲峴૖੯岶౮峔峵
5HJLVWHUHGE\XQLYHUVLW\EDVHGRQ
SULRUDSSOLFDWLRQE\VWXGHQW&RQGLWLRQVGLIIHUEHWZHHQSURJUDPVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO ્໰൥ଝ‫ৢુق‬ઇുఐ৯‫ك‬$UWV
6SHFLDO/HFWXUH /LEHUDO$UWV6XEMHFW





>@
>/,%@
>561@

‫س‬崗嵑崡峕峲峍峐૖੯岶౮峔峵&RQGLWLRQVGLIIHUEHWZHHQFODVVHVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO ౮ધ৲৑崛嵇嵍崳崙嵤崟嵏嵛ো୅$UWV,QWURGXFWLRQWR,QWHUFXOWXUDO&RPPXQLFDWLRQ





>@
>/,%@
>$38@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV



>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU('૑ఊુৢઇുఐ৯ ('5HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU('૑ఊુৢઇുఐ৯ ('5HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU('૑ఊુৢઇുఐ৯ ('5HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW 

ઇു/LEHUDO ঩ম峘ഄఴ$UWV-DSDQHVH+LVWRU\‫س‬ফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<



ઇു/LEHUDO ୭୆৾ো୅$UWV,QWURGXFWLRQWR(QYLURQPHQWDO6WXGLHV





>@
>/,%@
>*&)@



ઇു/LEHUDO 崊崠崊୬਴ஞ峘৉৶$UWV*HRJUDSK\RIWKH$VLD3DFLILF





>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV



>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 崊崠崊୬਴ஞ峘੉ୁ$UWV/DQJXDJHVRIWKH$VLD3DFLILF



ઇു/LEHUDO 崊崠崊୬਴ஞ峘෕ઇ$UWV
5HOLJLRQVRIWKH$VLD3DFLILF





>@
>/,%@
>*&)@



ઇു/LEHUDO 崊崠崊୬਴ஞ峘ધ৲峒঺ভ$UWV&XOWXUHDQG6RFLHW\RIWKH$VLD3DFLILF





>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 崊崠崊୬਴ஞ峘ഄఴ$UWV+LVWRU\RIWKH$VLD3DFLILF





>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO ঩মব೦১$UWV&RQVWLWXWLRQRI-DSDQ





>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV



>@
>/,%@
>561@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 崕嵋嵒崊嵣崯崞崌嵛⋛$UWV&DUHHU'HVLJQ,

ઇു/LEHUDO 崕嵋嵒崊嵣崯崞崌嵛⋜$UWV&DUHHU'HVLJQ,,





>@
>/,%@
>561@



ઇു/LEHUDO 崼崊嵒嵤崨嵤崰嵔嵤崳嵛崘⋛$UWV
3HHU/HDGHU7UDLQLQJ,





>@
>/,%@
>$38@



ઇു/LEHUDO 崼崊嵒嵤崨嵤崰嵔嵤崳嵛崘⋜$$UWV
3HHU/HDGHU7UDLQLQJ,,$





>@
>/,%@
>$38@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 崼崊嵒嵤崨嵤崰嵔嵤崳嵛崘⋜%$UWV
3HHU/HDGHU7UDLQLQJ,,%





>@
>/,%@
>$38@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 嵄嵑嵛崮崋崊ଢ଼஢$UWV
9ROXQWHHU$FWLYLWLHV





>@
>/,%@
>561@

‫س‬হ৐ணட峕੦峏岷প৾岶ఃஈ
5HJLVWHUHGE\XQLYHUVLW\EDVHGRQ
SULRUDSSOLFDWLRQE\VWXGHQWુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 崌嵛崧嵤嵛崟崫崿$UWV,QWHUQVKLS





>@
>/,%@
>561@

‫س‬‫س‬হ৐ணட峕੦峏岷প৾岶ఃஈ岞崿嵕崘嵑嵈峕峲峴૖੯岶౮峔峵
5HJLVWHUHGE\XQLYHUVLW\EDVHGRQ
SULRUDSSOLFDWLRQE\VWXGHQW&RQGLWLRQVGLIIHUEHWZHHQSURJUDPVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 崌嵛崧嵤嵛崟崫崿$UWV,QWHUQVKLS





>@
>/,%@
>561@

‫س‬‫س‬হ৐ணட峕੦峏岷প৾岶ఃஈ岞崿嵕崘嵑嵈峕峲峴૖੯岶౮峔峵
5HJLVWHUHGE\XQLYHUVLW\EDVHGRQ
SULRUDSSOLFDWLRQE\VWXGHQW&RQGLWLRQVGLIIHUEHWZHHQSURJUDPVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 嵉崯崋崊ো୅$UWV,QWURGXFWLRQWR0HGLD6WXGLHV





>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU&60૑ఊુৢઇുఐ৯ &605HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU&60૑ఊુৢઇുఐ৯ &605HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFW
RU&60૑ఊુৢઇുఐ৯ &605HTXLUHG&RPPRQ/LEHUDO$UWV6XEMHFW 

ઇു/LEHUDO ଁੑ৾$UWV
6WDWLVWLFV





>@
>/,%@
>561@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO ਴ਮ嵣崺嵍嵤嵆崳崮崋嵣ড়਌਌ଝ$UWV
3HDFH+XPDQLW\DQG'HPRFUDF\





>@
>/,%@
>$38@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO ੗ધ৲ૻຎ૛$UWV
6WXGLHVRI0XOWLFXOWXUDO&RPSDULVRQ





>@
>/,%@
>$38@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO ਲਗ৾ಆ崯崞崌嵛$UWV
2YHUVHDV/HDUQLQJ'HVLJQ





>@
>/,%@
>$38@



ઇു/LEHUDO ঩ম峘৉৶$UWV-DSDQHVH*HRJUDSK\





>@
>/,%@
>*&)@



ઇു/LEHUDO ્໰൥ଝ‫ق‬঩ম৾‫ك‬$UWV
6SHFLDO/HFWXUH -DSDQHVH6WXGLHV





>@
>/,%@
>*&)@



ઇു/LEHUDO 嵕崠崓嵓崟嵛崕嵛崘峒崽嵔嵤嵈嵗嵤崗$UWV/RJLFDO7KLQNLQJDQG)UDPHZRUN





>@
>/,%@
>561@



ઇു/LEHUDO 崕嵋嵒崊嵣崯崞崌嵛⋞$UWV&DUHHU'HVLJQ,9





>@
>/,%@
>561@

ফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<%਋৑岵峳
$YDLODEOHIURP3HULRG%ফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

崗嵑崡峕峲峍峐૖੯岶౮峔峵&RQGLWLRQVGLIIHUEHWZHHQFODVVHV

‫س‬

‫س‬

064

ফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

$36崓嵒崕嵍嵑嵈ఐ৯঳༮$36&XUULFXOXP6XEMHFW/LVW
ఐ৯崛嵤崱

ী৙

ఐ৯੡

౐ਜ਼ਯ

ଦਊ
崣嵉崡崧嵤

ఐ৯崲嵛崸嵤

৐઀ఐ৯-67৐઀ఐ৯-$7

৐઀ఐ৯(

ളਯ৚ਭ൥

6XEMHFW&RGH)LHOG

6XEMHFW1DPH&UHGLWV

6HPHVWHU&RXUVH
1XPEHU

3UHUHTXLVLWH6XEMHFWVIRU-676WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU-$76WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU(6WXGHQWV

5HUHJLVWUDWLRQ
3RVVLEOH3)௬੼

၎ఊ਑଒‫ق‬-67-$7(‫ك‬3)&RXUVH5HJLVWUDWLRQ5HVWULFWLRQV(YDOXDWLRQ‫ق‬-67-$7(‫ك‬&DPSXVPDWH౐ਜ਼ૐੑী৙
&UHGLW5HTXLUHPHQW$UHDRQ&DPSXVPDWH൷൥ফ২/DVW<HDU
2IIHUHG$36-67$36-$7$36(ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVপ৾岶ఃஈ‫ق‬ஐো৾‫؟‬崣嵉岝௘ো৾‫؟‬崣嵉‫ك‬
5HJLVWHUHGE\XQLYHUVLW\ QG
VHPHVWHUIRU6SULQJHQUROOHHVVW
VHPHVWHUIRU)DOOHQUROOHHVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVহ৐ணட峕੦峏岷প৾岶ఃஈ岞崿嵕崘嵑嵈峕峲峴૖੯岶౮峔峵
5HJLVWHUHGE\XQLYHUVLW\EDVHGRQ
SULRUDSSOLFDWLRQE\VWXGHQW&RQGLWLRQVGLIIHUEHWZHHQ
SURJUDPVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV঩মୁ੦૆ব৔৾ে崡崧嵛崨嵤崱崰嵑崫崗峘峩၎ఊ૭ચ岞ஶୁ૆র௻$%ఊ੭৏岵峳
૆঱௻$%ఊ੭峃峵峨峑峘৑峑၎ఊ૭ચ
2QO\DYDLODEOHWR6WDQGDUG7UDFN-DSDQHVHEDVLVGRPHVWLFVWXGHQWV$YDLODEOHDIWHUFRPSOHWLQJ3UH
,QWHUPHGLDWH(QJOLVK$%DQG
EHIRUHFRPSOHWLQJ8SSHU,QWHUPHGLDWH(QJOLVK(%ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

%਋৑岵峳
崣嵉峨峑
ো৾੦૆੉ୁ峘৫൥崗嵑崡峘峩၎ఊ૭$YDLODEOHIURP3HULRG%8QWLOQGVHPHVWHU
2QO\DYDLODEOHLQ\RXUHQUROOPHQWEDVLVODQJXDJH

ઇു/LEHUDO 崼崊嵒嵤崨嵤崰嵔嵤崳嵛崘ো୅$UWV,QWURGXFWLRQWR3HHU/HDGHU7UDLQLQJ





>@
>/,%@
>$38@



ઇു/LEHUDO 崡崧崯崋崡崕嵓嵣崊崓崯嵇崫崗嵑崌崮崋嵛崘$UWV
6WXG\6NLOOVDQG$FDGHPLF:ULWLQJ





>@
>/,%@
>$38@



ઇു/LEHUDO ੗ધ৲ੈ௮嵗嵤崗崟嵏崫崿$UWV
0XOWLFXOWXUDO&RRSHUDWLYH:RUNVKRS





>@
>/,%@
>$38@



ઇു/LEHUDO ౮ધ৲崽崋嵤嵓崱嵗嵤崗⋛$UWV,QWHUFXOWXUDO)LHOGZRUN,





>@
>/,%@
>$38@



ઇു/LEHUDO $36崾嵒崫崠崿嵕崘嵑嵈$UWV$36%ULGJH3URJUDP





>@
>/,%@
>$38@



ઇു/LEHUDO 崊崠崊୬਴ஞ峘৽ੋ$UWV(FRQRP\RIWKH$VLD3DFLILF





>@
>/,%@
>*&)@



ઇു/LEHUDO ১৾$UWV/HJDO6WXGLHV





>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO ੱ৶৾$UWV
3V\FKRORJ\





>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 崵崜崟崐嵤崟嵏嵛崡崕嵓$UWV
1HJRWLDWLRQ6NLOOV





>@
>/,%@
>561@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 崿嵕崘嵑嵇嵛崘$UWV
3URJUDPPLQJ





>@
>/,%@
>561@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

‫س‬

‫س‬

嵣ஶୁ૆র௻$3UH,QWHUPHGLDWH(QJOLVK$嵣ஶୁ૆র௻%3UH,QWHUPHGLDWH(QJOLVK%ফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<



ઇു/LEHUDO ภ੊$UWV-DSDQHVH$UWRI7HD&HUHPRQ\





>@
>/,%@
>*&)@



ઇു/LEHUDO ෾੊$UWV-DSDQHVH$UWRI)ORZHU$UUDQJHPHQW





>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO ঩ম峘஫ଁ഼ચ$UWV
7UDGLWLRQDO-DSDQHVH$UWV





>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO ୭୆ఐ৾$UWV
(QYLURQPHQWDO6FLHQFH





>@
>/,%@
>*&)@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 嵉崯崋崊਑੿嵑嵄$UWV
0HGLD3URGXFWLRQ/DE





>@
>/,%@
>561@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 崯嵤崧嵆崌崳嵛崘$UWV'DWD0LQLQJ





>@
>/,%@
>561@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO ્໰൥ଝ‫ق‬,&7‫ك‬$UWV
6SHFLDO/HFWXUH ,&7





>@
>/,%@
>561@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV‫س‬ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV‫س‬崗嵑崡峕峲峍峐૖੯岶౮峔峵&RQGLWLRQVGLIIHUEHWZHHQFODVVHV‫س‬

ઇു/LEHUDO ภ੊$UWV-DSDQHVH$UWRI7HD&HUHPRQ\





>@
>/,%@
>*&)@



ઇു/LEHUDO ෾੊$UWV-DSDQHVH$UWRI)ORZHU$UUDQJHPHQW





>@
>/,%@
>*&)@

‫س‬ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO ঩ম峘஫ଁ഼ચ$UWV
7UDGLWLRQDO-DSDQHVH$UWV





>@
>/,%@
>*&)@

‫س‬ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 崕嵋嵒崊嵣崯崞崌嵛⋝$UWV&DUHHU'HVLJQ,,,





>@
>/,%@
>561@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO ౮ધ৲崽崋嵤嵓崱嵗嵤崗⋜$UWV,QWHUFXOWXUDO)LHOGZRUN,,





>@
>/,%@
>$38@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 崕嵋嵒崊嵣崯崞崌嵛⋞$UWV&DUHHU'HVLJQ,9





>@
>/,%@
>561@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 崼崊嵒嵤崨嵤崰嵔嵤崳嵛崘ো୅$UWV,QWURGXFWLRQWR3HHU/HDGHU7UDLQLQJ





>@
>/,%@
>$38@

ુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO 崊崓崯嵇崫崗嵣崊崱崸崌崠嵛崘$UWV$FDGHPLF$GYLVLQJ





>@
>/,%@
>&20@

ਏ෮ૐੑਗఐ৯
6XEMHFWV1RW&RXQWHG7RZDUGV*UDGXDWLRQਏ෮ૐੑਗఐ৯
6XEMHFWV1RW&RXQWHG7RZDUGV*UDGXDWLRQਏ෮ૐੑਗఐ৯
6XEMHFWV1RW&RXQWHG7RZDUGV*UDGXDWLRQ

௧୅0DMRU>@>6@
>&60@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV঺ভ৶૛
6RFLDO7KHRU\

হ৐ணட峕੦峏岷প৾岶ఃஈ岞崿嵕崘嵑嵈峕峲峴૖੯岶౮峔峵
5HJLVWHUHGE\XQLYHUVLW\EDVHGRQ
SULRUDSSOLFDWLRQE\VWXGHQW&RQGLWLRQVGLIIHUEHWZHHQ
SURJUDPVফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<%਋৑岵峳崣嵉峨峑ো৾੦૆੉ୁ峘৫൥崗嵑崡峘峩၎ఊ૭$YDLODEOHIURP3HULRG%8QWLOQGVHPHVWHU
2QO\DYDLODEOHLQ\RXUHQUROOPHQWEDVLVODQJXDJH‫س‬

௧୅0DMRUધ৲যథ৾&XOWXUDO$QWKURSRORJ\>@>6@
>&60+7@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU෕ઇ峒ਦྛ
5HOLJLRQDQG%HOLHI>@>6@
>&60@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

065

$36崓嵒崕嵍嵑嵈ఐ৯঳༮$36&XUULFXOXP6XEMHFW/LVW
ఐ৯崛嵤崱

ী৙

ఐ৯੡

౐ਜ਼ਯ

ଦਊ
崣嵉崡崧嵤

ఐ৯崲嵛崸嵤

৐઀ఐ৯-67৐઀ఐ৯-$7

৐઀ఐ৯(

ളਯ৚ਭ൥

6XEMHFW&RGH)LHOG

6XEMHFW1DPH&UHGLWV

6HPHVWHU&RXUVH
1XPEHU

3UHUHTXLVLWH6XEMHFWVIRU-676WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU-$76WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU(6WXGHQWV

5HUHJLVWUDWLRQ
3RVVLEOH3)௬੼

၎ఊ਑଒‫ق‬-67-$7(‫ك‬3)&RXUVH5HJLVWUDWLRQ5HVWULFWLRQV(YDOXDWLRQ‫ق‬-67-$7(‫ك‬&DPSXVPDWH౐ਜ਼ૐੑী৙
&UHGLW5HTXLUHPHQW$UHDRQ&DPSXVPDWH൷൥ফ২/DVW<HDU
2IIHUHG$36-67$36-$7$36($36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU崠崏嵛崨嵤ଢ଼஢
*HQGHU6WXGLHV>@>6@
>&60@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU崓嵓崩嵍嵑嵓崡崧崯崋嵤崢&XOWXUDO6WXGLHV>@>6@
>&60@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU੉ୁ峒঺ভ/DQJXDJHDQG6RFLHW\>@>6@
>&60@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRUੌ௶঺ভ৾
6RFLRORJ\RI2UJDQL]DWLRQV>@>6@
>&60@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU঺ভమಽ૛
6RFLDO6WUDWLILFDWLRQ>@>6@
>&60@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRUব੠঺ভ৾
7UDQVQDWLRQDO6RFLRORJ\>@>6@
>&60@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRUব੠১,QWHUQDWLRQDO/DZ>@>6@
>,5@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV

ব੠ਃଡ૛
௧୅0DMRU,QWHUQDWLRQDO2UJDQL]DWLRQV>@>6@>,5('@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ
6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ
6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ
6XEMHFWV 

௧୅0DMRU੗ધ৲঺ভ૛
0XOWLFXOWXUDOLVPDQG6RFLHW\>@>6@
>&60@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU崘嵕嵤崸嵒崤嵤崟嵏嵛峒ૠ෇*OREDOL]DWLRQDQG/DZ>@>6@
>&60,5@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU৆੘৶૛
3ROLWLFDO7KHRU\>@>6@
>,5@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV>@>6@>,5('@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ
6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ
6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ
6XEMHFWV >@>6@>,5('@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ
6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ
6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ
6XEMHFWV ৫৅৆੘૛
3ROLWLFVRI'HYHORSPHQW

௧୅0DMRU

෺ଥ峒৫৅
௧୅0DMRU&RQIOLFWDQG'HYHORSPHQW

௧୅0DMRU崊崠崊୬਴ஞ峘ૻຎ৆੘৽ੋ&RPSDUDWLYH3ROLWLFDO(FRQRP\RIWKH$VLD3DFLILF>@>6@
>,5@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU崊崠崊୬਴ஞ峕岴岻峵ব੠ঢ়બ,QWHUQDWLRQDO5HODWLRQVLQWKH$VLD3DFLILF>@>6@
>,5@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU崊崠崊୬਴ஞ৉ୠ崟崡崮嵈૛
5HJLRQDO6\VWHPVLQWKH$VLD3DFLILF>@>6@
>,5@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWVফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<



௧୅0DMRU崘嵕嵤崸嵓৲峒৉ୠ਌ଝ*OREDOL]DWLRQDQG5HJLRQDOLVP

>@>6@
>&60,5@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRUব੠ਖ਻峒৆ੁ
*OREDO,VVXHVDQG3ROLFLHV>@>6@
>,5@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRUব੠෺ଥੰৠ,QWHUQDWLRQDO&RQIOLFW5HVROXWLRQ>@>6@
>,5@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV>@>6@
>&60,5@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU崊崌崯嵛崮崋崮崋峒৆੘,GHQWLW\DQG3ROLWLFV066

$36崓嵒崕嵍嵑嵈ఐ৯঳༮$36&XUULFXOXP6XEMHFW/LVW
ఐ৯崛嵤崱

ী৙

ఐ৯੡

౐ਜ਼ਯ

ଦਊ
崣嵉崡崧嵤

ఐ৯崲嵛崸嵤

৐઀ఐ৯-67৐઀ఐ৯-$7

৐઀ఐ৯(

ളਯ৚ਭ൥

6XEMHFW&RGH)LHOG

6XEMHFW1DPH&UHGLWV

6HPHVWHU&RXUVH
1XPEHU

3UHUHTXLVLWH6XEMHFWVIRU-676WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU-$76WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU(6WXGHQWV

5HUHJLVWUDWLRQ
3RVVLEOH3)௬੼

၎ఊ਑଒‫ق‬-67-$7(‫ك‬3)&RXUVH5HJLVWUDWLRQ5HVWULFWLRQV(YDOXDWLRQ‫ق‬-67-$7(‫ك‬&DPSXVPDWH౐ਜ਼ૐੑী৙
&UHGLW5HTXLUHPHQW$UHDRQ&DPSXVPDWH൷൥ফ২/DVW<HDU
2IIHUHG$36-67$36-$7$36($36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRUചৡ峒崮嵕嵒崢嵈
9LROHQFHDQG7HUURULVP>@>6@
>,5@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU৫৅঺ভ৾嵣যథ৾'HYHORSPHQW6RFLRORJ\DQG$QWKURSRORJ\>@>6@>('@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRUে੟੗஘ਙ%LRGLYHUVLW\>@>6@>('@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRU৉ૉ୭୆ਖ਻
*OREDO(QYLURQPHQWDO,VVXHV>@>6@>('@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRU୭୆峒঺ভ(QYLURQPHQWDQG6RFLHW\>@>6@>('@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRU୭୆৽ੋ৾(QYLURQPHQWDO(FRQRPLFV>@>6@>('@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRUਓ঵েଙ৾,QGXVWULDO(FRORJ\>@>6@>('@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU৫৅峘崿嵕崠崏崗崰嵣嵆崵崠嵉嵛崰
3URMHFW0DQDJHPHQWLQ'HYHORSPHQW>@>6@>('+7@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU*,6峒嵒嵊嵤崰崣嵛崟嵛崘*,6DQG5HPRWH6HQVLQJ>@>6@>('@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRU୭୆嵊崯嵒嵛崘
(QYLURQPHQWDO0RGHOLQJDQG$QDO\VLV>@>6@>('@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ
6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ
6XEMHFWV 

௧୅0DMRU৫৅৆ੁ'HYHORSPHQW3ROLF\>@>6@>,5('@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ
6XEMHFWV 

௧୅0DMRU崛嵇嵍崳崮崋嵤৫৅૛&RPPXQLW\'HYHORSPHQW>@>6@>('@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRU୭୆৆ੁ(QYLURQPHQWDO3ROLF\>@>6@>('@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRU嵃崡崼崧嵒崮崋嵣嵆崵崠嵉嵛崰+RVSLWDOLW\0DQDJHPHQW>@>6@
>+7@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU嵃崡崼崧嵒崮崋嵣嵆嵤崙崮崋嵛崘+RVSLWDOLW\0DUNHWLQJ>@>6@
>+7@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU௴୾঺ভ৾
6RFLRORJ\RI7RXULVP>@>6@
>+7@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

崐崛嵣崬嵤嵒崢嵈૛
௧୅0DMRU(FRWRXULVP>@>6@>+7('@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU્໰൥ଝ‫ق‬௧୅ઇ୘ఐ৯‫ك‬
6SHFLDO/HFWXUH $VLD3DFLILF6WXGLHV>@>6@
>&20@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU崒嵂嵔嵤崟嵏嵛崢嵣嵒崝嵤崩
2SHUDWLRQV5HVHDUFK





>@
>60@
>+7,(@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU঺ভੱ৶৾
6RFLDO3V\FKRORJ\>@>6@
>&60@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRUઇ୘峒঺ভ(GXFDWLRQDQG6RFLHW\>@>6@
>&60@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV


‫س‬

067

崗嵑崡峕峲峍峐૖੯岶౮峔峵&RQGLWLRQVGLIIHUEHWZHHQFODVVHV

$36崓嵒崕嵍嵑嵈ఐ৯঳༮$36&XUULFXOXP6XEMHFW/LVW
ఐ৯崛嵤崱

ী৙

ఐ৯੡

౐ਜ਼ਯ

ଦਊ
崣嵉崡崧嵤

ఐ৯崲嵛崸嵤

৐઀ఐ৯-67৐઀ఐ৯-$7

৐઀ఐ৯(

ളਯ৚ਭ൥

6XEMHFW&RGH)LHOG

6XEMHFW1DPH&UHGLWV

6HPHVWHU&RXUVH
1XPEHU

3UHUHTXLVLWH6XEMHFWVIRU-676WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU-$76WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU(6WXGHQWV

5HUHJLVWUDWLRQ
3RVVLEOH







௧୅0DMRU

௧୅0DMRU

௧୅0DMRUব੠৆੘ఴ+LVWRU\RI,QWHUQDWLRQDO3ROLWLFVব੠ੈৡ૛,QWHUQDWLRQDO&RRSHUDWLRQ௧୅౰ಆ⋛0DMRU6HPLQDU,













3)௬੼

၎ఊ਑଒‫ق‬-67-$7(‫ك‬3)&RXUVH5HJLVWUDWLRQ5HVWULFWLRQV(YDOXDWLRQ‫ق‬-67-$7(‫ك‬&DPSXVPDWH౐ਜ਼ૐੑী৙
&UHGLW5HTXLUHPHQW$UHDRQ&DPSXVPDWH൷൥ফ২/DVW<HDU
2IIHUHG$36-67$36-$7$36(>@>6@
>,5@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV>@>6@>,5('@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV>@>6@
>6(0@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU௧୅౰ಆ⋜
0DMRU6HPLQDU,,>@>6@
>6(0@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU৫৅৽ੋ৾'HYHORSPHQW(FRQRPLFV





>@
>60@
>(',(@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRUব੠৽ੋ৾,QWHUQDWLRQDO(FRQRPLFV





>@
>60@
>(',(@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRUব੠৆੘৽ੋ৾,QWHUQDWLRQDO3ROLWLFDO(FRQRP\





>@
>60@
>,5,(@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU঩ম峘ৌਗঢ়બఴ+LVWRU\RI-DSDQHVH)RUHLJQ5HODWLRQV>@>6@
>&60,5@

௧୅0DMRUব੠ঢ়બ৶૛,QWHUQDWLRQDO5HODWLRQV7KHRU\>@>6@
>,5@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU঩ম峘ਗઐ৆ੁ
)RUHLJQ3ROLF\RI-DSDQ>@>6@
>,5@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU୭୆崛嵇嵍崳崙嵤崟嵏嵛(QYLURQPHQWDO&RPPXQLFDWLRQ>@>6@>('@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRU௴୾ધ৲૛峒௴୾ఴ&XOWXUHDQG+LVWRU\RI7RXULVP>@>6@
>+7@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU௴୾峒崥嵤崟嵋嵓嵉崯崋崊
7RXULVPDQG6RFLDO0HGLD>@>6@
>+7@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU஗঵఩ਓ峒崬嵤嵒崢嵈$JULKHULWDJHDQG7RXULVP>@>6@
>+7@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRUધ৲嵣঺ভ嵣嵉崯崋崊岜崽崋嵤嵓崱嵣崡崧崯崋)LHOG6WXG\IRU&XOWXUH6RFLHW\DQG0HGLD>@>6@
>&60@

‫س‬হ৐ணட峕੦峏岷প৾岶ఃஈ岞崿嵕崘嵑嵈峕峲峴૖੯岶౮峔峵
5HJLVWHUHGE\XQLYHUVLW\EDVHGRQ
SULRUDSSOLFDWLRQE\VWXGHQW&RQGLWLRQVGLIIHUEHWZHHQSURJUDPV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU )LHOG6WXG\IRU,QWHUQDWLRQDO5HODWLRQVDQG3HDFH>@>6@
>,5@

‫س‬হ৐ணட峕੦峏岷প৾岶ఃஈ岞崿嵕崘嵑嵈峕峲峴૖੯岶౮峔峵
5HJLVWHUHGE\XQLYHUVLW\EDVHGRQ
SULRUDSSOLFDWLRQE\VWXGHQW&RQGLWLRQVGLIIHUEHWZHHQSURJUDPV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWVব੠ঢ়બ岜崽崋嵤嵓崱嵣崡崧崯崋
6WXGLHV068

$36崓嵒崕嵍嵑嵈ఐ৯঳༮$36&XUULFXOXP6XEMHFW/LVW
ఐ৯崛嵤崱

ী৙

ఐ৯੡

౐ਜ਼ਯ

ଦਊ
崣嵉崡崧嵤

ఐ৯崲嵛崸嵤

৐઀ఐ৯-67৐઀ఐ৯-$7

৐઀ఐ৯(

ളਯ৚ਭ൥

6XEMHFW&RGH)LHOG

6XEMHFW1DPH&UHGLWV

6HPHVWHU&RXUVH
1XPEHU

3UHUHTXLVLWH6XEMHFWVIRU-676WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU-$76WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU(6WXGHQWV

5HUHJLVWUDWLRQ
3RVVLEOH3)௬੼

၎ఊ਑଒‫ق‬-67-$7(‫ك‬3)&RXUVH5HJLVWUDWLRQ5HVWULFWLRQV(YDOXDWLRQ‫ق‬-67-$7(‫ك‬&DPSXVPDWH౐ਜ਼ૐੑী৙
&UHGLW5HTXLUHPHQW$UHDRQ&DPSXVPDWH൷൥ফ২/DVW<HDU
2IIHUHG$36-67$36-$7$36(

௧୅0DMRU୭୆嵣৫৅岜崽崋嵤嵓崱嵣崡崧崯崋)LHOG6WXG\IRU(QYLURQPHQWDQG'HYHORSPHQW>@>6@>('@

‫س‬হ৐ணட峕੦峏岷প৾岶ఃஈ岞崿嵕崘嵑嵈峕峲峴૖੯岶౮峔峵
5HJLVWHUHGE\XQLYHUVLW\EDVHGRQ
SULRUDSSOLFDWLRQE\VWXGHQW&RQGLWLRQVGLIIHUEHWZHHQSURJUDPV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRU௴୾৾岜崽崋嵤嵓崱嵣崡崧崯崋)LHOG6WXG\IRU7RXULVPDQG+RVSLWDOLW\>@>6@
>+7@

‫س‬হ৐ணட峕੦峏岷প৾岶ఃஈ岞崿嵕崘嵑嵈峕峲峴૖੯岶౮峔峵
5HJLVWHUHGE\XQLYHUVLW\EDVHGRQ
SULRUDSSOLFDWLRQE\VWXGHQW&RQGLWLRQVGLIIHUEHWZHHQSURJUDPV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU崌嵁嵛崰嵆崵崠嵉嵛崰(YHQWDQG)HVWLYDO0DQDJHPHQW>@>6@
>+7@

ফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWVপ৾岶ఃஈ岞ਰৣ峘૖੯峕ਊ峐峙峨峵৾ে峼ৌ଴峒峁峉ఐ৯峑峃岞峇島ਰਗ峘৾ে峙၎ఊ峃峵岽峒岶峑岷峨峅峽岞঩মୁ੦૆৾ে‫؟‬ஐো৾峘崣嵉ে岝௘ো৾峘崣嵉ে岝嵣ౣૡো峘岝崣嵉ে
5HJLVWHUHGE\XQLYHUVLW\7KLVফ২峼ਈ৏峕
VXEMHFWLVIRUWKHIROORZLQJVWXGHQWV ൷൥
RQO\VWXGHQWVZKRPHHWRQHWKH /DVWRIIHUHGLQ
IROORZLQJFULWHULDFDQUHJLVWHUIRU$<
WKLVVXEMHFW 嵣(QJOLVKEDVHGVWVHPHVWHU$36
VWXGHQWV嵣(QJOLVKEDVHGUGVHPHVWHU$36
WUDQVIHU VWXGHQWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU$36ো୅
,QWURGXFWLRQWR$36>@>6@
>&25(@

௧୅0DMRU嵉崯崋崊峒ഄఴ
0HGLDDQG+LVWRU\>@>6@
>&60@



௧୅0DMRU崛嵇嵍崳崮崋嵣嵁嵤崡嵣崬嵤嵒崢嵈&RPPXQLW\%DVHG7RXULVP>@>6@>('+7@

௧୅0DMRU

௴୾৽ੋ৾7RXULVP(FRQRPLFV>@>6@
>+7@



௧୅0DMRU 3UHOLPLQDU\6HPLQDUIRU&XOWXUH6RFLHW\DQG>@>6@
>&60@

੦ຊ౰ಆ‫ق‬ધ৲嵣঺ভ嵣嵉崯崋崊‫ك‬
0HGLDফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

嵣崣嵉‫؟‬$਋৑岵峳ఃஈ૭崣嵉ਰ঱‫؟‬%਋৑岵峳ఃஈ૭
UG WKVHPHVWHU$YDLODEOHIURP
3HULRG$WKVHPHVWHUDQGDERYH$YDLODEOH
IURP3HULRG%

௧୅0DMRU嵉崯崋崊峒ધ৲
0HGLDDQG&XOWXUH>@>6@
>&60@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU崘嵕嵤崸嵓嵣崺崡崰嵒嵤*OREDO+LVWRU\>@>6@
>&60@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRUযધ৾峒੺৻
7KH+XPDQLWLHVDQG0RGHUQLW\>@>6@
>&60@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU崳嵍嵤嵉崯崋崊峒঺ভ
1HZ0HGLDDQG6RFLHW\>@>6@
>&60@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU嵉崯崋崊峒১
0HGLDDQG/DZ>@>6@
>&60@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRUધ৲嵣঺ভ嵣嵉崯崋崊岜્໰൥ଝ
6SHFLDO/HFWXUHLQ&XOWXUH6RFLHW\DQG0HGLD>@>6@
>&60@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU 3UHOLPLQDU\6HPLQDUIRU,QWHUQDWLRQDO5HODWLRQV>@>6@
>,5@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV੦ຊ౰ಆ‫ق‬ব੠ঢ়બ‫ك‬
DQG3HDFH6WXGLHV‫س‬崗嵑崡峕峲峍峐૖੯岶౮峔峵&RQGLWLRQVGLIIHUEHWZHHQFODVVHVফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

嵣崣嵉‫؟‬$਋৑岵峳ఃஈ૭崣嵉ਰ঱‫؟‬%਋৑岵峳ఃஈ૭
UG WKVHPHVWHU$YDLODEOHIURP
3HULRG$WKVHPHVWHUDQGDERYH$YDLODEOH
IURP3HULRG%

௧୅0DMRU

਴ਮ৾3HDFH6WXGLHV>@>6@
>,5@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRUਅറীෲ峒ਔઓৠ৒
6WUDWHJLF'HFLVLRQ0DNLQJ>@>6@
>,5@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRUഐਅ৏峘෺ଥ峒৉৆৾
*HR3ROLWLFVDQG3RVW&ROG:DU&RQIOLFWV>@>6@
>,5@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRUযਥ૛+XPDQ5LJKWV>@>6@
>,5@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU 6SHFLDO/HFWXUHLQ,QWHUQDWLRQDO5HODWLRQVDQG>@>6@
>,5@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWVব੠ঢ়બ岜્໰൥ଝ
3HDFH6WXGLHV

‫س‬

069

崗嵑崡峕峲峍峐૖੯岶౮峔峵&RQGLWLRQVGLIIHUEHWZHHQFODVVHVফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

$36崓嵒崕嵍嵑嵈ఐ৯঳༮$36&XUULFXOXP6XEMHFW/LVW
ఐ৯崛嵤崱

ী৙

ఐ৯੡

౐ਜ਼ਯ

ଦਊ
崣嵉崡崧嵤

ఐ৯崲嵛崸嵤

৐઀ఐ৯-67৐઀ఐ৯-$7

৐઀ఐ৯(

ളਯ৚ਭ൥

6XEMHFW&RGH)LHOG

6XEMHFW1DPH&UHGLWV

6HPHVWHU&RXUVH
1XPEHU

3UHUHTXLVLWH6XEMHFWVIRU-676WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU-$76WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU(6WXGHQWV

5HUHJLVWUDWLRQ
3RVVLEOH

௧୅0DMRU 3UHOLPLQDU\6HPLQDUIRU(QYLURQPHQWDQG

၎ఊ਑଒‫ق‬-67-$7(‫ك‬3)&RXUVH5HJLVWUDWLRQ5HVWULFWLRQV(YDOXDWLRQ‫ق‬-67-$7(‫ك‬&DPSXVPDWH౐ਜ਼ૐੑী৙
&UHGLW5HTXLUHPHQW$UHDRQ&DPSXVPDWH൷൥ফ২/DVW<HDU
2IIHUHG$36-67$36-$7$36($36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV >@>6@>('@

嵣崣嵉‫؟‬$਋৑岵峳ఃஈ૭$36௧୅ઇ୘ఐ৯
崣嵉ਰ঱‫؟‬%਋৑岵峳ఃஈ૭ফ২峼ਈ৏峕
$360DMRU(GXFDWLRQ6XEMHFWVUG WKVHPHVWHU$YDLODEOHIURP ൷൥
RU
3HULRG$/DVWRIIHUHGLQ('௧୅ઇ୘ఐ৯WKVHPHVWHUDQGDERYH$YDLODEOH $<('0DMRU(GXFDWLRQ6XEMHFWV 
IURP3HULRG%$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV੦ຊ౰ಆ‫ق‬୭୆嵣৫৅‫ك‬3)௬੼

'HYHORSPHQW

௧୅0DMRU੃৘୭୆峒৫৅
8UEDQ(QYLURQPHQWDQG'HYHORSPHQW>@>6@>('@



௧୅0DMRU୭୆嵣৫৅岜્໰൥ଝ
6SHFLDO/HFWXUHLQ(QYLURQPHQWDQG'HYHORSPHQW>@>6@>('@



௧୅0DMRUৱ౺嵆崵崠嵉嵛崰
5HVRXUFH0DQDJHPHQW>@>6@>('@



௧୅0DMRU੦ຊ౰ಆ‫ك৾୾௴ق‬3UHOLPLQDU\6HPLQDUIRU7RXULVPDQG+RVSLWDOLW\>@>6@
>+7@



௧୅0DMRU௴୾嵣嵃崡崼崧嵒崮崋峒১
7RXULVPDQG+RVSLWDOLW\/DZ>@>6@
>+7@



௧୅0DMRU௴୾৫৅峒ੑ઺
7RXULVP'HYHORSPHQWDQG3ODQQLQJ>@>6@
>+7@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU௏೨峒崎崏嵓崵崡崬嵤嵒崢嵈+HDOWKDQG:HOOQHVV7RXULVP>@>6@
>+7@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU嵒崦嵤崰৫৅
5HVRUW'HYHORSPHQW>@>6@
>+7@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU఩ਓ௴୾૛+HULWDJH7RXULVP>@>6@
>+7@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU

൒ষਓ঵૛
7UDYHO,QGXVWU\>@>6@
>+7@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU௴୾৉嵆嵤崙崮崋嵛崘峒嵆崵崠嵉嵛崰'HVWLQDWLRQ0DUNHWLQJDQG0DQDJHPHQW>@>6@
>+7@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU௴୾৾岜્໰൥ଝ
6SHFLDO/HFWXUHLQ7RXULVPDQG+RVSLWDOLW\>@>6@
>+7@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU

0,&(ਓ঵૛
0,&(7RXULVP,QGXVWU\>@>6@
>+7@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV>@>6@
>&60,5@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV>@>6@
>&60,5@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV>@>6@
>&60,5@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,35௧୅ઇ୘ఐ৯ ,350DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV>@>6@
>&60('@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ
6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ
6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ
6XEMHFWV 



௧୅0DMRU

௧୅0DMRU嵉崯崋崊峒৆੘
0HGLDDQG3ROLWLFV崘嵕嵤崸嵓嵉崯崋崊峒෺ଥ*OREDO0HGLDDQG&RQIOLFW崐崡崳崟崮崋峒বড়বੇ(WKQLFLW\DQGWKH1DWLRQ6WDWH



௧୅0DMRU

1321*2ଢ଼஢
௧୅0DMRU
1321*26WXGLHV









‫س‬

崗嵑崡峕峲峍峐૖੯岶౮峔峵&RQGLWLRQVGLIIHUEHWZHHQFODVVHVফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

嵣崣嵉‫؟‬$਋৑岵峳ఃஈ૭崣嵉ਰ঱‫؟‬%਋৑岵峳ఃஈ૭
UG WKVHPHVWHU$YDLODEOHIURP
3HULRG$WKVHPHVWHUDQGDERYH$YDLODEOH
IURP3HULRG%ফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

‫س‬070

崗嵑崡峕峲峍峐૖੯岶౮峔峵&RQGLWLRQVGLIIHUEHWZHHQFODVVHVফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

$36崓嵒崕嵍嵑嵈ఐ৯঳༮$36&XUULFXOXP6XEMHFW/LVW
ఐ৯崛嵤崱

ী৙

ఐ৯੡

౐ਜ਼ਯ

ଦਊ
崣嵉崡崧嵤

ఐ৯崲嵛崸嵤

৐઀ఐ৯-67৐઀ఐ৯-$7

৐઀ఐ৯(

ളਯ৚ਭ൥

6XEMHFW&RGH)LHOG

6XEMHFW1DPH&UHGLWV

6HPHVWHU&RXUVH
1XPEHU

3UHUHTXLVLWH6XEMHFWVIRU-676WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU-$76WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU(6WXGHQWV

5HUHJLVWUDWLRQ
3RVVLEOH



௧୅0DMRU৉ୠଢ଼஢$UHD6WXGLHV>@>6@
>&20@3)௬੼

၎ఊ਑଒‫ق‬-67-$7(‫ك‬3)&RXUVH5HJLVWUDWLRQ5HVWULFWLRQV(YDOXDWLRQ‫ق‬-67-$7(‫ك‬&DPSXVPDWH౐ਜ਼ૐੑী৙
&UHGLW5HTXLUHPHQW$UHDRQ&DPSXVPDWH൷൥ফ২/DVW<HDU
2IIHUHG$36-67$36-$7$36($36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV嵣崣嵉峘峩$YDLODEOHWRUGWKVHPHVWHUVWXGHQWVRQO\$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWVহ৐ணட峕੦峏岷প৾岶ఃஈ岞崿嵕崘嵑嵈峕峲峴૖੯岶౮峔峵
5HJLVWHUHGE\XQLYHUVLW\EDVHGRQ
SULRUDSSOLFDWLRQE\VWXGHQW&RQGLWLRQVGLIIHUEHWZHHQSURJUDPV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV‫س‬

௧୅0DMRU৹ਪଢ଼஢ো୅
,QWURGXFWLRQWR5HVHDUFK0HWKRGV>@>6@
>6(0@



௧୅0DMRU$36崽崋嵤嵓崱嵣崡崧崯崋$36)LHOG6WXG\>@>6@
>&20@



௧୅0DMRU৉ୠଢ଼஢ো୅
,QWURGXFWLRQWR$UHD6WXGLHV>@>6@
>&25(@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV>@>6@
>6(0@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV>@>6@
>6(0@

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV



௧୅0DMRU

௧୅0DMRU෮঵ଢ଼஢⋛*UDGXDWLRQ5HVHDUFK,෮঵ଢ଼஢⋜*UDGXDWLRQ5HVHDUFK,,









‫س‬

‫س‬

হ৐ணட峕੦峏岷প৾岶ఃஈ岞崿嵕崘嵑嵈峕峲峴૖੯岶౮峔峵
5HJLVWHUHGE\XQLYHUVLW\EDVHGRQ
SULRUDSSOLFDWLRQE\VWXGHQW&RQGLWLRQVGLIIHUEHWZHHQSURJUDPV

௧୅0DMRU崿嵕崠崏崗崰ଢ଼஢)LHOG5HVHDUFK3URMHFW





>@
>60@
>&20@



௧୅0DMRUੌ௶ষ৿૛‫ق‬঱௻‫ك‬$GYDQFHG2UJDQL]DWLRQDO%HKDYLRU





>@
>60@
>+7602@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRUয౫嵆崵崠嵉嵛崰‫ق‬঱௻‫ك‬$GYDQFHG+XPDQ5HVRXUFH0DQDJHPHQW





>@
>60@
>+7602@$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV

౎৾৖
2WKHU&ROOHJH੦ຊਯ৾)XQGDPHQWDO0DWKHPDWLFV>@>0@
>5(4@

%਋৑岵峳ো৾੦૆੉ୁ峘৫൥崗嵑崡峘峩၎ఊ૭$YDLODEOHIURP3HULRG%2QO\DYDLODEOHLQ\RXUHQUROOPHQWEDVLVODQJXDJH౎৾৖ఐ৯2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH৽੾৾ো୅,QWURGXFWLRQWR0DQDJHPHQW>@>0@
>5(4@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJHভੑ৾⋛$FFRXQWLQJ,>@>0@
>5(4@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJHভੑ৾⋜$FFRXQWLQJ,,>@>0@>$)@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH

স੆૛)LQDQFH>@>0@
>5(4@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH

崛嵤嵅嵔嵤崰嵣崽崉崌崲嵛崡&RUSRUDWH)LQDQFH>@>0@>$)@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJHਉ੼ভੑ&RVW$FFRXQWLQJ>@>0@>$)@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH

েਓଵ৶૛
3URGXFWLRQ0DQDJHPHQW>@>0@
>5(4@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH

嵇崗嵕৽ੋ৾
0LFURHFRQRPLFV>@>0@>,(@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH

嵆崗嵕৽ੋ৾
0DFURHFRQRPLFV>@>0@>,(@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH

崊崠崊৽ੋ૛$VLDQ(FRQRP\>@>0@>,(@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJHଃਜভੑ૛⋛)LQDQFLDO$FFRXQWLQJ,>@>0@>$)@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJHଃਜভੑ૛⋜)LQDQFLDO$FFRXQWLQJ,,>@>0@>$)@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH

ଵ৶ভੑ૛
0DQDJHPHQW$FFRXQWLQJ>@>0@>$)@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV‫س‬嵣ভੑ৾⋛$FFRXQWLQJ,嵣ভੑ৾⋛$FFRXQWLQJ,嵣ভੑ৾⋛$FFRXQWLQJ,071

$36崓嵒崕嵍嵑嵈ఐ৯঳༮$36&XUULFXOXP6XEMHFW/LVW
ఐ৯崛嵤崱

ী৙

ఐ৯੡

౐ਜ਼ਯ

ଦਊ
崣嵉崡崧嵤

ఐ৯崲嵛崸嵤

৐઀ఐ৯-67৐઀ఐ৯-$7

৐઀ఐ৯(

ളਯ৚ਭ൥

6XEMHFW&RGH)LHOG

6XEMHFW1DPH&UHGLWV

6HPHVWHU&RXUVH
1XPEHU

3UHUHTXLVLWH6XEMHFWVIRU-676WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU-$76WXGHQWV

3UHUHTXLVLWH6XEMHFWVIRU(6WXGHQWV

5HUHJLVWUDWLRQ
3RVVLEOH



౎৾৖
2WKHU&ROOHJH঱௻ভੑ$GYDQFHG$FFRXQWLQJ>@>0@>$)@



౎৾৖
2WKHU&ROOHJH૰ਪ$XGLWLQJ

౎৾৖
2WKHU&ROOHJH

স੆৘ৃ峒স੆਑২
)LQDQFLDO0DUNHWDQG,QVWLWXWLRQV

౎৾৖
2WKHU&ROOHJH਺ৱ嵣઒ଊীෲ
,QYHVWPHQWDQG6HFXULWLHV$QDO\VLV

౎৾৖
2WKHU&ROOHJH਺ৱਅറ,QYHVWPHQW6WUDWHJ\



౎৾৖
2WKHU&ROOHJHૼ୒৽੾7HFKQRORJ\0DQDJHPHQW



౎৾৖
2WKHU&ROOHJH

౎৾৖
2WKHU&ROOHJH

౎৾৖
2WKHU&ROOHJH

౎৾৖
2WKHU&ROOHJHব੠ভੑ,QWHUQDWLRQDO$FFRXQWLQJ

౎৾৖
2WKHU&ROOHJH

౎৾৖
2WKHU&ROOHJH

౎৾৖
2WKHU&ROOHJH

્໰൥ଝ‫ق‬௧୅ઇ୘ఐ৯‫ك‬
6SHFLDO/HFWXUH 0DQDJHPHQW



౎৾৖
2WKHU&ROOHJH

౎৾৖
2WKHU&ROOHJH

౎৾৖
2WKHU&ROOHJH

崊嵛崰嵔崿嵔崲嵤崟崫崿(QWUHSUHQHXUVKLS

౎৾৖
2WKHU&ROOHJH

崾嵑嵛崱嵆崵崠嵉嵛崰%UDQG0DQDJHPHQW



౎৾৖
2WKHU&ROOHJH

౎৾৖
2WKHU&ROOHJH

౎৾৖
2WKHU&ROOHJHব੠੟૴૛,QWHUQDWLRQDO/RJLVWLFV

౎৾৖
2WKHU&ROOHJH

౎৾৖
2WKHU&ROOHJH

౎৾৖
2WKHU&ROOHJH

౎৾৖
2WKHU&ROOHJH

崻崠崵崡崐崟崫崗崡%XVLQHVV(WKLFV


౎৾৖
2WKHU&ROOHJH
౎৾৖2WKHU&ROOHJH3)௬੼

၎ఊ਑଒‫ق‬-67-$7(‫ك‬3)&RXUVH5HJLVWUDWLRQ5HVWULFWLRQV(YDOXDWLRQ‫ق‬-67-$7(‫ك‬&DPSXVPDWH౐ਜ਼ૐੑী৙
&UHGLW5HTXLUHPHQW$UHDRQ&DPSXVPDWH൷൥ফ২/DVW<HDU
2IIHUHG$36-67$36-$7

$36(

%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV>@>0@>$)@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV>@>0@>$)@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV>@>0@>$)@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV>@>0@>$)@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV>@>0@>,(@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV嵆嵤崙崮崋嵛崘嵣嵒崝嵤崩
0DUNHWLQJ5HVHDUFK>@>0@
>0@

%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV଎ા঻ষ৿૛
&RQVXPHU%HKDYLRU>@>0@
>0@

%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWVব੠স੆૛,QWHUQDWLRQDO)LQDQFH>@>0@>$)@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV>@>0@>$)@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWVব੠嵆嵤崙崮崋嵛崘૛,QWHUQDWLRQDO0DUNHWLQJ>@>0@
>0@

%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWVব੠਄ਬ,QWHUQDWLRQDO7UDQVDFWLRQV>@>0@
>602@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV>@>0@
>&20@

崗嵑崡峕峲峍峐૖੯岶౮峔峵&RQGLWLRQVGLIIHUEHWZHHQFODVVHV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV崻崠崵崡১ਜਅറ
/HJDO6WUDWHJ\LQ%XVLQHVV>@>0@
>5(4@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV崝崿嵑崌嵣崩崏嵤嵛嵣嵆崵崠嵉嵛崰
6XSSO\&KDLQ0DQDJHPHQW>@>0@>0602@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV>@>0@>602,(@%਋৑岵峳$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV>@>0@>0602@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV୿ਲ਼嵣崿嵕嵊嵤崟嵏嵛嵆崵崠嵉嵛崰
3URPRWLRQDQG6DOHV0DQDJHPHQW>@>0@
>0@

%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV(崛嵆嵤崡(&RPPHUFH>@>0@
>0@

%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV>@>0@>0602@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV崝嵤崻崡嵆崵崠嵉嵛崰
6HUYLFH0DQDJHPHQW>@>0@>0602@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV崽崉嵇嵒嵤崻崠崵崡)DPLO\%XVLQHVV0DQDJHPHQW>@>0@
>602@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV৽੾ਅറ૛
6WUDWHJLF0DQDJHPHQW>@>0@
>602@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV>@>0@
>5(4@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV%਋৑岵峳$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV





௧୅౰ಆ⋛
0DMRU6HPLQDU,>@>0@
>6(0@௧୅౰ಆ⋜
0DMRU6HPLQDU,,>@>0@
>6(0@

‫س‬

౎৾৖
2WKHU&ROOHJH

崥嵤崟嵋嵓崊嵛崰嵔崿嵔崲嵤崟崫崿
6RFLDO(QWUHSUHQHXUVKLS>@>0@
>&20@



౎৾৖
2WKHU&ROOHJHভੑ岜્໰൥ଝ
6SHFLDO/HFWXUHLQ$FFRXQWLQJ>@>0@>$)@

‫س‬崗嵑崡峕峲峍峐૖੯岶౮峔峵&RQGLWLRQVGLIIHUEHWZHHQFODVVHV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH

崽崉崌崲嵛崡岜્໰൥ଝ
6SHFLDO/HFWXUHLQ)LQDQFH>@>0@>$)@

‫س‬崗嵑崡峕峲峍峐૖੯岶౮峔峵&RQGLWLRQVGLIIHUEHWZHHQFODVVHV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH

嵆嵤崙崮崋嵛崘岜્໰൥ଝ
6SHFLDO/HFWXUHLQ0DUNHWLQJ>@>0@
>0@

‫س‬

崗嵑崡峕峲峍峐૖੯岶౮峔峵&RQGLWLRQVGLIIHUEHWZHHQFODVVHV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH

৽੾ਅറ峒ੌ௶岜્໰൥ଝ
6SHFLDO/HFWXUHLQ6WUDWHJLF0DQDJHPHQW
2UJDQL]DWLRQ>@>0@
>602@

‫س‬崗嵑崡峕峲峍峐૖੯岶౮峔峵&RQGLWLRQVGLIIHUEHWZHHQFODVVHV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH

崌崶嵁嵤崟嵏嵛岜્໰൥ଝ
6SHFLDO/HFWXUHLQ,QQRYDWLRQ>@>0@>,(@

‫س‬崗嵑崡峕峲峍峐૖੯岶౮峔峵&RQGLWLRQVGLIIHUEHWZHHQFODVVHV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH৽ੋ৾岜્໰൥ଝ
6SHFLDO/HFWXUHLQ(FRQRPLFV>@>0@>,(@

‫س‬崗嵑崡峕峲峍峐૖੯岶౮峔峵&RQGLWLRQVGLIIHUEHWZHHQFODVVHV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH

崻崠崵崡崙嵤崡ীෲ嵣崛嵇嵍崳崙嵤崟嵏嵛%XVLQHVV&DVH$QDO\VLV &RPPXQLFDWLRQ>@>0@
>&20@‫س‬%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH

崻崠崵崡崯嵤崧ীෲ%XVLQHVV'DWD$QDO\VLV>@>0@
>&20@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH

ଲષ৫৅૛
3URGXFW'HYHORSPHQW>@>0@>0,(@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH

嵆嵤崙崮崋嵛崘ো୅,QWURGXFWLRQWR0DUNHWLQJ>@>0@
>5(4@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJHয౫峒ੌ௶ষ৿峘嵆崵崠嵉嵛崰
0DQDJHPHQWRI+XPDQ5HVRXUFHVDQG
2UJDQL]DWLRQDO%HKDYLRU>@>0@
>5(4@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH঱௻ਯ৾$GYDQFHG0DWKHPDWLFV>@>0@
>5(4@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH

৽੾ੲਾ崟崡崮嵈
0DQDJHPHQW,QIRUPDWLRQ6\VWHPV>@>0@
>&20@%਋৑岵峳
$YDLODEOHIURP3HULRG%౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH

崿嵕崠崏崗崰ଢ଼஢)LHOG5HVHDUFK3URMHFW>@>0@
>&20@

‫س‬হ৐ணட峕੦峏岷প৾岶ఃஈ岞崿嵕崘嵑嵈峕ফ২峼ਈ৏峕峲峴૖੯岶౮峔峵൷൥
5HJLVWHUHGE\XQLYHUVLW\EDVHGRQ/DVWRIIHUHGLQ
SULRUDSSOLFDWLRQE\VWXGHQW$<
&RQGLWLRQVGLIIHUEHWZHHQSURJUDPV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖
2WKHU&ROOHJH$30崽崋嵤嵓崱嵣崡崧崯崋$30)LHOG6WXG\>@>0@
>&20@

‫س‬হ৐ணட峕੦峏岷প৾岶ఃஈ岞崿嵕崘嵑嵈峕峲峴૖੯岶౮峔峵
5HJLVWHUHGE\XQLYHUVLW\EDVHGRQ
SULRUDSSOLFDWLRQE\VWXGHQW&RQGLWLRQVGLIIHUEHWZHHQSURJUDPV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

072ফ২峼ਈ৏峕൷൥
/DVWRIIHUHGLQ$<

$36崓嵒崕嵍嵑嵈岜౐ਜ਼ੳ৒৷ఐ৯঳༮$36&XUULFXOXP&UHGLW7UDQVIHU6XEMHFW/LVW
ఐ৯崛嵤崱
6XEMHFW&RGH

ী৙
)LHOG

ఐ৯੡
6XEMHFW1DPH

౐ਜ਼ਯ&UHGLWV&DPSXVPDWH౐ਜ਼ૐੑী৙
&UHGLW5HTXLUHPHQW$UHDRQ&DPSXVPDWH૟અ‫ق‬-67-$7(‫ك‬$36-67$36-$7$36(੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV

੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙/DQJXDJH(GXFDWLRQ6XEMHFW੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV

੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙/DQJXDJH(GXFDWLRQ6XEMHFW੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV

੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙/DQJXDJH(GXFDWLRQ6XEMHFW੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV

੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙/DQJXDJH(GXFDWLRQ6XEMHFW੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV

੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙‫ق‬ஶୁ‫ك‬/DQJXDJH(GXFDWLRQ6XEMHFW (QJOLVK-67-$7峘峩

ஶୁ(QJOLVKஶୁ(QJOLVK

੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙‫ق‬ஶୁ‫ك‬/DQJXDJH(GXFDWLRQ6XEMHFW (QJOLVK-67-$7峘峩

ஶୁ(QJOLVKஶୁ(QJOLVK

੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙‫ق‬ஶୁ‫ك‬/DQJXDJH(GXFDWLRQ6XEMHFW (QJOLVK-67-$7峘峩

ஶୁ(QJOLVKஶୁ(QJOLVK

੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙‫ق‬ஶୁ‫ك‬/DQJXDJH(GXFDWLRQ6XEMHFW (QJOLVK-67-$7峘峩

ஶୁ(QJOLVKஶୁ(QJOLVK

੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙‫ق‬঩মୁ‫ك‬/DQJXDJH(GXFDWLRQ6XEMHFW -DSDQHVH



(峘峩





঩মୁ
-DSDQHVH



੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙‫ق‬঩মୁ‫ك‬/DQJXDJH(GXFDWLRQ6XEMHFW -DSDQHVH



(峘峩





঩মୁ
-DSDQHVH



੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙‫ق‬঩মୁ‫ك‬/DQJXDJH(GXFDWLRQ6XEMHFW -DSDQHVH



(峘峩





঩মୁ
-DSDQHVH



੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙‫ق‬঩মୁ‫ك‬/DQJXDJH(GXFDWLRQ6XEMHFW -DSDQHVH



(峘峩





঩মୁ
-DSDQHVH



੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬/DQJXDJH(GXFDWLRQ6XEMHFW 'LVWDQFH/HDUQLQJ੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV

੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬/DQJXDJH(GXFDWLRQ6XEMHFW 'LVWDQFH/HDUQLQJ੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV

੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬/DQJXDJH(GXFDWLRQ6XEMHFW 'LVWDQFH/HDUQLQJ੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV

੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬/DQJXDJH(GXFDWLRQ6XEMHFW 'LVWDQFH/HDUQLQJ੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV

੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬/DQJXDJH(GXFDWLRQ6XEMHFW 'LVWDQFH/HDUQLQJ੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV

੉ୁ/DQJXDJH੉ୁઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬/DQJXDJH(GXFDWLRQ6XEMHFW 'LVWDQFH/HDUQLQJ੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV

੉ୁ/DQJXDJH્໰൥ଝ‫ୁ੉ق‬ઇ୘ఐ৯‫ك‬
6SHFLDO/HFWXUH /DQJXDJH(GXFDWLRQ6XEMHFW੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV੉ୁઇ୘ఐ৯岴峲峝ુৢઇുఐ৯/DQJXDJH(GXFDWLRQ6XEMHFWVDQG&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO$UWVુৢઇുఐ৯ী৙
&RPPRQ/LEHUDO$UWV6XEMHFWુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO$UWVુৢઇുఐ৯ী৙
&RPPRQ/LEHUDO$UWV6XEMHFWુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO$UWVુৢઇുఐ৯ী৙
&RPPRQ/LEHUDO$UWV6XEMHFWુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO$UWVુৢઇുఐ৯ী৙
&RPPRQ/LEHUDO$UWV6XEMHFWુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO$UWVુৢઇുఐ৯ী৙
&RPPRQ/LEHUDO$UWV6XEMHFWુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO$UWVુৢઇുఐ৯ী৙
&RPPRQ/LEHUDO$UWV6XEMHFWુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

073

$36崓嵒崕嵍嵑嵈岜౐ਜ਼ੳ৒৷ఐ৯঳༮$36&XUULFXOXP&UHGLW7UDQVIHU6XEMHFW/LVW
ఐ৯崛嵤崱
6XEMHFW&RGH

ী৙
)LHOG

ఐ৯੡
6XEMHFW1DPH

౐ਜ਼ਯ&UHGLWV&DPSXVPDWH౐ਜ਼ૐੑী৙
&UHGLW5HTXLUHPHQW$UHDRQ&DPSXVPDWH૟અ‫ق‬-67-$7(‫ك‬$36-67$36-$7$36(

ઇു/LEHUDO$UWVુৢઇുఐ৯ী৙‫ق‬೫࿒‫ك‬&RPPRQ/LEHUDO$UWV6XEMHFW 'LVWDQFH/HDUQLQJુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO$UWVુৢઇുఐ৯ী৙‫ق‬೫࿒‫ك‬&RPPRQ/LEHUDO$UWV6XEMHFW 'LVWDQFH/HDUQLQJુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO$UWVુৢઇുఐ৯ী৙‫ق‬೫࿒‫ك‬&RPPRQ/LEHUDO$UWV6XEMHFW 'LVWDQFH/HDUQLQJુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO$UWVુৢઇുఐ৯ী৙‫ق‬೫࿒‫ك‬&RPPRQ/LEHUDO$UWV6XEMHFW 'LVWDQFH/HDUQLQJુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO$UWVુৢઇുఐ৯ী৙‫ق‬೫࿒‫ك‬&RPPRQ/LEHUDO$UWV6XEMHFW 'LVWDQFH/HDUQLQJુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

ઇു/LEHUDO$UWVુৢઇുఐ৯ী৙‫ق‬೫࿒‫ك‬&RPPRQ/LEHUDO$UWV6XEMHFW 'LVWDQFH/HDUQLQJુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWVુৢઇുఐ৯
&RPPRQ/LEHUDO$UWV6XEMHFWV

௧୅0DMRU௧୅ઇ୘ఐ৯ী৙
0DMRU6XEMHFW$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU௧୅ઇ୘ఐ৯ী৙
0DMRU6XEMHFW$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU௧୅ઇ୘ఐ৯ী৙
0DMRU6XEMHFW$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU௧୅ઇ୘ఐ৯ী৙
0DMRU6XEMHFW$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU௧୅ઇ୘ఐ৯ী৙
0DMRU6XEMHFW$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU௧୅ઇ୘ఐ৯ী৙
0DMRU6XEMHFW$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU௧୅ઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬
0DMRU6XEMHFW 'LVWDQFH/HDUQLQJ$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU௧୅ઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬
0DMRU6XEMHFW 'LVWDQFH/HDUQLQJ$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU௧୅ઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬
0DMRU6XEMHFW 'LVWDQFH/HDUQLQJ$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU௧୅ઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬
0DMRU6XEMHFW 'LVWDQFH/HDUQLQJ$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU௧୅ઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬
0DMRU6XEMHFW 'LVWDQFH/HDUQLQJ$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRU௧୅ઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬
0DMRU6XEMHFW 'LVWDQFH/HDUQLQJ$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV

௧୅0DMRUધ৲嵣঺ভ嵣嵉崯崋崊્ఊఐ৯⋛0DMRU6XEMHFW &XOWXUH6RFLHW\DQG0HGLD ,$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRUધ৲嵣঺ভ嵣嵉崯崋崊્ఊఐ৯⋜0DMRU6XEMHFW &XOWXUH6RFLHW\DQG0HGLD ,,$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRUધ৲嵣঺ভ嵣嵉崯崋崊્ఊఐ৯⋝0DMRU6XEMHFW &XOWXUH6RFLHW\DQG0HGLD ,,,

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU&60௧୅ઇ୘ఐ৯ &600DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRUব੠ঢ়બ્ఊఐ৯⋛0DMRU6XEMHFW ,QWHUQDWLRQDO5HODWLRQVDQG3HDFH6WXGLHV ,$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRUব੠ঢ়બ્ఊఐ৯⋜0DMRU6XEMHFW ,QWHUQDWLRQDO5HODWLRQVDQG3HDFH6WXGLHV ,,$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRUব੠ঢ়બ્ఊఐ৯⋝0DMRU6XEMHFW ,QWHUQDWLRQDO5HODWLRQVDQG3HDFH6WXGLHV ,,,

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU,53௧୅ઇ୘ఐ৯ ,530DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRU୭୆嵣৫৅્ఊఐ৯⋛0DMRU6XEMHFW (QYLURQPHQWDQG'HYHORSPHQW ,$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV 074$36崓嵒崕嵍嵑嵈岜౐ਜ਼ੳ৒৷ఐ৯঳༮$36&XUULFXOXP&UHGLW7UDQVIHU6XEMHFW/LVW
ఐ৯崛嵤崱
6XEMHFW&RGH

ী৙
)LHOG

ఐ৯੡
6XEMHFW1DPH

౐ਜ਼ਯ&UHGLWV&DPSXVPDWH౐ਜ਼ૐੑী৙
&UHGLW5HTXLUHPHQW$UHDRQ&DPSXVPDWH૟અ‫ق‬-67-$7(‫ك‬$36-67$36-$7$36($36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRU୭୆嵣৫৅્ఊఐ৯⋜0DMRU6XEMHFW (QYLURQPHQWDQG'HYHORSPHQW ,,$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRU୭୆嵣৫৅્ఊఐ৯⋝0DMRU6XEMHFW (QYLURQPHQWDQG'HYHORSPHQW ,,,

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWVRU('௧୅ઇ୘ఐ৯ ('0DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRU௴୾્৾ఊఐ৯⋛0DMRU6XEMHFW +RVSLWDOLW\DQG7RXULVP ,$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRU௴୾્৾ఊఐ৯⋜0DMRU6XEMHFW +RVSLWDOLW\DQG7RXULVP ,,$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV 

௧୅0DMRU௴୾્৾ఊఐ৯⋝0DMRU6XEMHFW +RVSLWDOLW\DQG7RXULVP ,,,

$36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV $36௧୅ઇ୘ఐ৯
$360DMRU(GXFDWLRQ6XEMHFWV
RU+7௧୅ઇ୘ఐ৯ +70DMRU(GXFDWLRQ6XEMHFWV 

౎৾৖2WKHU&ROOHJH௧୅ઇ୘ఐ৯ী৙
0DMRU6XEMHFW



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH௧୅ઇ୘ఐ৯ী৙
0DMRU6XEMHFW



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH௧୅ઇ୘ఐ৯ী৙
0DMRU6XEMHFW



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH௧୅ઇ୘ఐ৯ী৙
0DMRU6XEMHFW



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH௧୅ઇ୘ఐ৯ী৙
0DMRU6XEMHFW



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH௧୅ઇ୘ఐ৯ী৙
0DMRU6XEMHFW



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH௧୅ઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬
0DMRU6XEMHFW 'LVWDQFH/HDUQLQJ



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH௧୅ઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬
0DMRU6XEMHFW 'LVWDQFH/HDUQLQJ



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH௧୅ઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬
0DMRU6XEMHFW 'LVWDQFH/HDUQLQJ



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH௧୅ઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬
0DMRU6XEMHFW 'LVWDQFH/HDUQLQJ



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH௧୅ઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬
0DMRU6XEMHFW 'LVWDQFH/HDUQLQJ



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH௧୅ઇ୘ఐ৯ী৙‫ق‬೫࿒‫ك‬
0DMRU6XEMHFW 'LVWDQFH/HDUQLQJ



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH

ভੑ嵣崽崉崌崲嵛崡્ఊఐ৯⋛0DMRU6XEMHFW $FFRXQWLQJDQG)LQDQFH ,



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH

ভੑ嵣崽崉崌崲嵛崡્ఊఐ৯⋜0DMRU6XEMHFW $FFRXQWLQJDQG)LQDQFH ,,



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH

ভੑ嵣崽崉崌崲嵛崡્ఊఐ৯⋝0DMRU6XEMHFW $FFRXQWLQJDQG)LQDQFH ,,,



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH

嵆嵤崙崮崋嵛崘્ఊఐ৯⋛0DMRU6XEMHFW 0DUNHWLQJ ,



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH

嵆嵤崙崮崋嵛崘્ఊఐ৯⋜0DMRU6XEMHFW 0DUNHWLQJ ,,



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH

嵆嵤崙崮崋嵛崘્ఊఐ৯⋝0DMRU6XEMHFW 0DUNHWLQJ ,,,



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH

৽੾ਅറ峒ੌ௶્ఊఐ৯⋛0DMRU6XEMHFW 6WUDWHJLF0DQDJHPHQWDQG2UJDQL]DWLRQ ,



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH

৽੾ਅറ峒ੌ௶્ఊఐ৯⋜0DMRU6XEMHFW 6WUDWHJLF0DQDJHPHQWDQG2UJDQL]DWLRQ ,,



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

075

$36崓嵒崕嵍嵑嵈岜౐ਜ਼ੳ৒৷ఐ৯঳༮$36&XUULFXOXP&UHGLW7UDQVIHU6XEMHFW/LVW
ఐ৯崛嵤崱
6XEMHFW&RGH

ী৙
)LHOG

ఐ৯੡
6XEMHFW1DPH

౐ਜ਼ਯ&UHGLWV&DPSXVPDWH౐ਜ਼ૐੑী৙
&UHGLW5HTXLUHPHQW$UHDRQ&DPSXVPDWH૟અ‫ق‬-67-$7(‫ك‬$36-67$36-$7$36(

౎৾৖2WKHU&ROOHJH

৽੾ਅറ峒ੌ௶્ఊఐ৯⋝0DMRU6XEMHFW 6WUDWHJLF0DQDJHPHQWDQG2UJDQL]DWLRQ ,,,



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH

崌崶嵁嵤崟嵏嵛嵣৽ੋ્৾ఊఐ৯⋛0DMRU6XEMHFW ,QQRYDWLRQDQG(FRQRPLFV ,



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH

崌崶嵁嵤崟嵏嵛嵣৽ੋ્৾ఊఐ৯⋜0DMRU6XEMHFW ,QQRYDWLRQDQG(FRQRPLFV ,,



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

౎৾৖2WKHU&ROOHJH

崌崶嵁嵤崟嵏嵛嵣৽ੋ્৾ఊఐ৯⋝0DMRU6XEMHFW ,QQRYDWLRQDQG(FRQRPLFV ,,,



౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV౎৾৖ఐ৯
2WKHU&ROOHJH6XEMHFWV

076