Till innehåll på sidan
Sveriges Riksdags logotyp, tillbaka till startsidan

Miljöbalksutbildningen - dokumentation, utvärdering och förslag - del 5

Statens offentliga utredningar 2000:142

%LODJD .RQVXOWUDSSRUW

8WYlUGHULQJ RFK I|UVODJ WLOO IUDPWLGD LQIRUPDWLRQ RFK XWELOGQLQJ

DY *XQQDU )RUqQ RFK &HFLOLD %lFNVWU|P ,QUHJLD $% 'HFHPEHU

%LODJD WLOO EHWlQNDQGH DY .RPPLWWpQ RP XWELOGQLQJ LQI|U

LNUDIWWUlGDQGHW DY PLOM|EDONHQ

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

,QQHKnOO

6DPPDQIDWWQLQJ

)|UXWVlWWQLQJDUQD

'LUHNWLYHQ RFK NRPPLWWpQV PnO

.RQFHSWHW

.XUVHU

2PIDWWQLQJ

8SSOlJJQLQJ

.XUVPDWHULDO

5HJLRQDOD NXUVDQRUGQDUH

/lUDUH

,QIRUPDWLRQ)|UVODJ WLOO I|UElWWULQJDU

)RUWVDWW LQIRUPDWLRQ RFK XWELOGQLQJ

%LODJRU  
%LODJD 6DPPDQIDWWQLQJ DY XWYlUGHULQJVVHPLQDULHUQD
%LODJD 8QGHUODJVUDSSRUW IUnQ HQNlWXQGHUV|NQLQJ
  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

6DPPDQIDWWQLQJ

0LOM|EDONVXWELOGQLQJHQ lU HQ VWDWOLJD NRPPLWWp VRP KDU L XSSGUDJ DWW XWELOGD EHU|UGD RP GHQ Q\D PLOM|ODJVWLIWQLQJHQ PLOM|EDONHQ .RP PLWWpQ VWDUWDGH L GHFHPEHU RFK SODQHUDV DWW DYVOXWDV L RFK PHG XWJnQJHQ DY ,QRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ NRPPHU FD

HOHYHU DWW KD JHQRPJnWW XQGHUYLVQLQJ

8WYlUGHULQJHQ GUDU VOXWVDWVHQ DWW 0LOM|EDONVXWELOGQLQJHQ KDU JHQRPI|UW VLWW DUEHWH Sn HWW P\FNHW I|UWMlQVWIXOOW VlWW JLYHW VLQD I|UXW VlWWQLQJDU 0DQ KDU KDIW NRUW WLG WLOO VLWW I|UIRJDQGH YLONHW KDU SnYHUNDW NYDOLWHWHQ L QnJUD DYVHHQGHQ 'H HNRQRPLVND UHVXUVHUQD KDU YDULW Sn WDJOLJW PLQGUH MlPI|UW PHG HQ OLNQDQGH XWELOGQLQJVVDWVQLQJ RP 3ODQ RFK E\JJODJHQ Sn WDOHW YLONHW KDU OHWW WLOO DWW 0LOM|EDONVXWELOG QLQJHQ KDU SULRULWHUDW QHG XWELOGQLQJ RFK LQIRUPDWLRQ WLOO VPnI|UHWDJ RFK DOOPlQKHW

1nJUD DY GH YLNWLJDVWH IUDPJnQJVIDNWRUHUQD KDU YDULW

œ)|UXWVlWWQLQJDUQD PHG NRUW RP WLG RFK OnJ EXGJHW KDU KDQWHUDWV JHQRP DWW Vn OnQJW VRP P|MOLJW DUEHWD PHG NlQGD PHWRGHU

œ.DQVOLHWV RUJDQLVDWLRQ RFK VWUlYDQ DWW KnOOD EXGJHW KDU YDULW P\FNHW JRG

œ8WELOGQLQJHQV XSSOlJJQLQJ RFK NXUVPDWHULDO KDU L KXYXGVDN YDULW P\FNHW EUD

œ(Q IUDPJnQJVULN VDPYHUNDQ PHG PnQJD DNW|UHU

œ3UREOHP KDU KDQWHUDWV VQDEEW QlU GH EOLYLW NlQGD

œ(QJDJHPDQJHW KDU YDULW VWDUNW

œ%HW\GDQGH LQVDWVHU DY HQVNLOGD SHUVRQHU

)|U IUDPWLGD XWELOGQLQJVVDWVQLQJDU DY OLNQDQGH VODJ JHU XWYlUGHULQJHQ HWW DQWDO I|UVODJ WLOO I|UElWWULQJDU EO D

œ$UEHWHW PHG XWELOGQLQJHQ E|U LQOHGDV nU I|UH ODJHQV LNUDIWWUlGDQGH

œ(Q JHQRPWlQNW SHGDJRJLVN XSSOlJJQLQJ I|U KHOKHWHQ E|U EHVOXWDV WLGLJW RFK JHQRPGULYDV DY NRPPLWWpQ PHG XWWDODG XSSI|OMQLQJ RFK VW\UQLQJ

œ$UEHWVJUXSSHU VRP VNULYHU NXUVPDWHULDO WLOO I|UGMXSQLQJVNXUVHU E|U JHV P|MOLJKHW DWW LQOHGD DUEHWHW I|UVW Gn JUXQGNXUVHQ lU NODU

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

œgYHUVLNWVNXUVHQ DQSDVVDV WLOO QnJUD In PnOJUXSSHU SROLWLNHU I|UH WDJDUH NRPPXQDOD FKHIHU /lUDUNXUVHU KnOOV I|U |YHUVLNWVNXUVHQ PHG IRNXV Sn PnOJUXSSVDQSDVVQLQJ

œ5HJLRQDOD NXUVDQRUGQDUH JHV VW|G I|U UHNU\WHULQJ DY HOHYHU QlU GHW JlOOHU XQGHUODJ I|U PDUNQDGVI|ULQJ RFK DWW SHND XW SHULIHUD PHQ YLN WLJD PnOJUXSSHU

œ,QIRUPDWLRQ RP HUVlWWQLQJ WLOO OlUDUH RFK GHUDV DUEHWVJLYDUH E|U YDUD W\GOLJ RFK NRPPD WLGLJW

œ*|U |YQLQJVH[HPSOHQ PHU JHQRPDUEHWDGH 6NULY JlUQD I|UEHUHGGDVYDU Sn H[HPSOHQ VRP NDQ GHODV XW QlU NXUVHQ lU VOXW 3RlQJWHUD DWWVYDUHQ HQGDVW SHNDU Sn HQ DY IOHUD WlQNEDUD O|VQLQJDU

œ6H WLOO DWW GHW ILQQV W\GOLJD NRSSOLQJDU PHOODQ |YQLQJVH[HPSHO RFK NRPSHQGLHU

œ+D IOHU W\SLVND lUHQGHQ EODQG |YQLQJVH[HPSOHQ RFK IlUUH H[HPSHO VRP VND LOOXVWUHUDU VYnULJKHWHU

1lU 0LOM|EDONVXWELOGQLQJHQ XSSK|U YLG XWJnQJHQ DY WDU DQGUD DNW|UHU |YHU DQVYDUHW I|U IRUWVDWW XWELOGQLQJ RP PLOM|EDONHQ 8WYlUGH ULQJHQ SHNDU Sn DWW EHKRY DY IRUWVDWW XWELOGQLQJ RFK LQIRUPDWLRQ EODQG DQQDW ILQQV DYVHHQGH

œ)RUWVDWW PLOM|EDONVXWELOGQLQJ I|U WUH PnOJUXSSHU .RPPXQDOD PLOM| SROLWLNHU NRPPXQDOD I|UYDOWQLQJVFKHIHU NRPPXQDOD YHUNVDPKHWV XW|YDUH .DQ RUGQDV UHJLRQDOW JHQRP IOHU |YHUVLNWVNXUVHU

œ5HJLRQDOD VHPLQDULHU PHOODQ SROLWLNHU RFK WMlQVWHPlQ 2UGQDV OlPS OLJDVW UHJLRQDOW

œ6SHFLDOLQULNWDGH NXUVHU WLOO PLOM|KDQGOlJJDUH LQRP NRPPXQHUQD

.UlYV DWW FHQWUDO DNW|U WDU IUDP NXUVPDWHULDOHW .RPPXQHUQD |QVNDU GlUHPRW DWW NXUVHUQD DQRUGQDV UHJLRQDOW DY FHQWUDO HOOHU UHJLRQDO DQ RUGQDUH

œ6DPPDQKnOOHQ I|UIDWWQLQJVLQIRUPDWLRQ Sn ,QWHUQHW YLD PLOM|SRUWDO 'lU YLOO PDQ KD ODJ I|URUGQLQJDU I|UHVNULIWHU DOOPlQQD UnG lQGULQJDU RFK UlWWVIDOO

œ)UnJHOnGD Sn ,QWHUQHW GlU EHV|NDUHQ NDQ VWlOOD IUnJRU RFK VQDEEW In VYDU

œ%UDQVFKDQSDVVDG LQIRUPDWLRQ WLOO QlULQJVOLYHW

œ,QIRUPDWLRQ WLOO Q\VWDUWDGH I|UHWDJ YLD 3DWHQW RFK UHJLVWUHULQJVYHUNHW

œ,QIRUPDWLRQ WLOO DOOPlQKHWHQ L IUnJRU VRP KDU VWRU DOOPlQJLOWLJKHW I|U DWW |ND PHGYHWDQGHW RP GHQ Q\D PLOM|ODJVWLIWQLQJHQ

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

)|UXWVlWWQLQJDUQD

1lU Q\ ODJVWLIWQLQJ LQI|UV EHK|YHU PnQJD SDUWHU OlUD VLJ GH Q\D EH VWlPPHOVHUQD 0\QGLJKHWHU VRP VND WLOOlPSD ODJ I|URUGQLQJDU RFK I|UHVNULIWHU PnVWH VMlOYIDOOHW NlQQD WLOO GHVVD 'HWVDPPD JlOOHU SROLV nNODJDUH RFK GRPVWRODU I|U DWW NXQQD KDQWHUD VDQNWLRQHU $OOPlQKHW I|UHWDJ SROLWLNHU RFK RUJDQLVDWLRQHU VRP EHU|UV DY ODJHQ PnVWH NlQQD WLOO EHVWlPPHOVHUQD I|U DWW YHWD YDG GH KDU DWW UlWWD VLJ HIWHU

9LG ULNWLJW VWRUD I|UlQGULQJDU L ODJVWLIWQLQJHQ EOLU EHKRYHW DY XWELOG QLQJ RFK LQIRUPDWLRQ LQI|U ODJHQV LNUDIWWUlGDQGH H[WUD W\GOLJW 0LOM| EDONHQ LQQHElU HQ VnGDQ VWRU I|UlQGULQJ HIWHUVRP GHQ HUVlWWHU ODJDU LQRP PLOM|RPUnGHW 0LOM|EDONHQ LQQHElU GHVVXWRP DWW PLOM|ODJVWLIW QLQJHQ VNlUSV RFK EUHGGDV VDPW DWW ROLND P\QGLJKHWHU InU Q\D DUEHWV XSSJLIWHU

8QGHU DUEHWHW PHG DWW WD IUDP PLOM|EDONHQ SHNDGH EO D ROLND VWDWOLJD P\QGLJKHWHU RFK 6YHQVND .RPPXQI|UEXQGHW Sn GHW VWRUD EHKRYHW DY XWELOGQLQJ 0DQ MlPI|UGH W H[ PHG GHQ XWELOGQLQJ VRP VWDWHQ RUJD QLVHUDGH L VDPEDQG PHG LQI|UDQGHW DY 3ODQ RFK %\JJODJHQ 3%/ Sn

WDOHW 5HJHULQJHQ EHVOXWDGH L VHSWHPEHU DWW WLOOVlWWD HQ NRPPLWWp PHG

XSSJLIWHQ DWW LQLWLHUD RFK VDPRUGQD XWELOGQLQJVLQVDWVHU RP PLOM|EDONHQ

.RPPLWWpQ NRP DWW WD QDPQHW 0LOM|EDONVXWELOGQLQJHQ 8WELOG QLQJVLQVDWVHUQD VNXOOH VNH L VDPEDQG PHG LNUDIWWUlGDQGHW DY PLOM| EDONHQ 'HQ O|SDQGH IRUWELOGQLQJHQ VRP NUlYV GlUHIWHU InU UHVSHNWLYH P\QGLJKHW RUJDQLVDWLRQ RFK I|UHWDJ KDQWHUD Sn HJHQ KDQG .RPPLWWpQ SODQHUDV GlUI|U DWW DYVOXWD VLWW DUEHWH YLG XWJnQJHQ DY

'HW WLGVVFKHPD UHJHULQJHQ EHVOXWDGH RP LQQHEDU DWW 0LOM|EDONVXWELOG QLQJHQ VNXOOH JHQRPI|UD VLWW DUEHWH XQGHU VWDUN WLGVSUHVV 'H WLGVPlVVLJD I|UXWVlWWQLQJDUQD I|U 0LOM|EDONVXWELOGQLQJHQ LOOXVWUHUDV L WLGVVFKHPDW L ILJXU

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

)LJXU 7LGVVFKHPD |YHU I|UIDWWQLQJVDUEHWHW RFK 0LOM|EDONVXWELOG QLQJHQV DUEHWH PHG XWELOGQLQJ RFK LQIRUPDWLRQ

          /DJHQ WUlGGH L NUDIW        
  9nUHQ   +|VWHQ   9nUHQ   +|VWHQ   9nUHQ   +|VWHQ
           
                       
)|UIDWWQLQJV )|UVODJ WLOO   %HKDQGOLQJ L   /DJHQ EH   +XYXGGHOHQ   0\QGLJKHWHU   0\QGLJKHWHU
DUEHWH ODJ   ODJUnGHW   VOXWDV DY   DY I|URUG   JHU XW I|UH   JHU XW DOO
          ULNVGDJHQ L   QLQJDUQD   VNULIWHU   PlQQD UnG
          MXQL   VNULYV        
8WELOGQLQJ     0LOM|EDONV   $UEHWHW   .XUVHU I|U   5HJLRQDOD   5HJLRQDOD
RFK LQIRU     XWELOGQLQJHQ   PHG .XUV   OlUDUH RNW   NXUVHU I|U   NXUVHU I|U
PDWLRQ     LQOHGHU   NRPSHQGLHU   QRY   HOHYHU   HOHYHU
      DUEHWHW L   LQOHGV   5HJLRQDOD   6LVWD NRP   /lUDUNXUV I|U
      GHFHPEHU   5HJLRQDO RU   NXUVHU I|U   SHQGLHW NODUW   VLVWD NXUVHQ
          JDQLVDWLRQ DY   HOHYHU LQOHGV   ,QIRUPDWLRQV   ,QIRUPDWLRQV
          NXUVDUUDQ   L QRY GHF   PDWHULDO   PDWHULDO
          J|UHU VNDSDV   +HPVLGD        
              |SSQDV        

$Y WDEHOOHQ L ILJXU IUDPJnU EO D DWW NXUVNRPSHQGLHUQD GHOYLV VNUHYV LQQDQ ODJHQ YDU WDJHQ DY ULNVGDJHQ )OHUD DY I|URUGQLQJDUQD IDQQV WLOO JlQJOLJD I|UVW L VDPEDQG PHG DWW DUEHWHW PHG NXUVPDWHULDOHW DYVOXWDGHV WURWV DWW WLOOlPSQLQJHQ DY PLOM|EDONHQ lU VWDUNW DYKlQJLJ GH I|URUG QLQJDU VRP UHJHULQJHQ XWIlUGDU (QGDVW HQ EHJUlQVDG GHO DY P\QGLJ KHWHUQDV I|UHVNULIWHU RFK DOOPlQQD UnG KDU lQQX JLYLWV XW QlU GHQQD XW YlUGHULQJ VNULYV RFK 0LOM|EDONVXWELOGQLQJHQ L GHW QlUPDVWH lU DYVOXWDG

(Q DPELWLRQ IUnQ EnGH UHJHULQJHQ RFK 0LOM|EDONVXWELOGQLQJHQ YDU DWW NXUVHUQD nWPLQVWRQH VNXOOH LQOHGDV I|UH ODJHQV LNUDIWWUlGDQGH 'HWWD XSSQnGGHV JHQRP DWW YLVVD NXUVHU NXQGH NRPPD LJnQJ UHGDQ L QRYHPEHU RFK GHFHPEHU +XYXGGHOHQ DY NXUVHUQD KDU GRFN KnOOLWV HIWHU ODJHQV LNUDIWWUlGDQGH

)OHUD SHUVRQHU EnGH L NRPPLWWpQ RFK Sn NDQVOLHW I|U 0LOM|EDONV XWELOGQLQJHQ PHGYHUNDGH L GHQ 3%/ XWELOGQLQJ VRP JHQRPI|UGHV Sn

WDOHW 'HW YDU GlUI|U QDWXUOLJW DWW PDQ NRP DWW WLOOlPSD HWW NRQFHSW I|U 0LOM|EDONVXWELOGQLQJHQ VRP OLNQDU GHW VRP DQYlQGHV L 3%/ XWELOG QLQJHQ )|UXWVlWWQLQJDUQD I|U 0LOM|EDONV XWELOGQLQJHQ VNLOMGH VLJ GRFN Sn QnJUD DYJ|UDQGH SXQNWHU IUnQ 3%/ XWELOGQLQJHQV I|UXWVlWWQLQJDU

9LG JHQRPI|UDQGH DY 3%/ XWELOGQLQJHQ IDQQV ODJHQ DWW WLOOJn WLGLJW YLONHW JDY JRGD P|MOLJKHWHU DWW WD IUDP XWELOGQLQJVPDWHULDO 7LOOlPS QLQJHQ DY 3%/ lU LQWH OLND EHURHQGH DY UHJHULQJHQV I|URUGQLQJDU YLONHW JMRUGH DUEHWHW PHG NXUVNRPSHQGLHUQD PLQGUH WLGVNULWLVNW lYHQ DY GHWWD VNlO 0DQ LQOHGGH DUEHWHW PHG XWELOGQLQJHQ L JRG WLG Vn DWW WYn WUHGMH

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

GHODU DY JUXQGNXUVHUQD NXQGH JHQRPI|UDV I|UH LNUDIWWUlGDQGHW )|U GMXSQLQJVNXUVHUQD K|OOV GRFN HIWHU LNUDIWWUlGDQGHW

(Q DQQDQ EHW\GDQGH VNLOOQDG PHOODQ GH WYn XWELOGQLQJVVDWVQLQJDUQD lU RPIDWWQLQJHQ RFK EXGJHWHQ , 3%/ XWELOGQLQJHQ NRP PDQ DWW KnOOD NXUVHU I|U FD HOHYHU L JUXQGXWELOGQLQJHQ RFK I|U FD L I|U GMXSQLQJVXWELOGQLQJHQ $QWDOHW HOHYHU L 0LOM|EDONVXWELOGQLQJHQV JUXQG XWELOGQLQJ KDU YDULW FD RFK NRPPHU DWW EOL FD L I|UGMXS QLQJV IRUWVlWWQLQJVNXUVHUQD

%XGJHWHQ I|U GHQ QDWLRQHOOD GHOHQ DY 3%/ XWELOGQLQJHQ YDU XQJHIlU

0NU L GDJHQV SHQQLQJYlUGH 'HWWD NDQ MlPI|UDV PHG 0LOM|EDONV XWELOGQLQJHQV 0.U .RVWQDGHUQD lU GRFN LQWH GLUHNW SURSRUWLRQHOOD PRW DQWDOHW NXUVGHOWDJDUH 2P 0LOM|EDONVXWELOGQLQJHQ KDGH KDIW OLND PnQJD HOHYHU VRP 3%/ XWELOGQLQJHQ KDGH NRVWQDGHQ LVWlOOHW EOLYLW FD

0.U

'HQ UHODWLYD NQDSSKHWHQ Sn WLG RFK SHQJDU KDU XWJMRUW SnWDJOLJD UH VWULNWLRQHU L DUEHWHW PHG 0LOM|EDONVXWELOGQLQJHQ , XWYlUGHULQJHQ NRPPHU GlUI|U YlUGHULQJ DY DUEHWVVlWW RFK UHVXOWDW KRV 0LOM|EDONVXW ELOGQLQJHQ DWW VWlOODV L UHODWLRQ WLOO GHVVD I|UXWVlWWQLQJDU

'LUHNWLYHQ RFK NRPPLWWpQV PnO

, UHJHULQJHQV GLUHNWLY WLOO 0LOM|EDONVXWELOGQLQJHQ ILQQV HWW DQWDO SXQNWHU

VRP NRQNUHW EHVNULYHU YDG NRPPLWWpQ VNXOOH J|UD

œ.DUWOlJJ RFK JUXSSHUD YLOND VRP EHK|YHU XWELOGQLQJ

œ$QDO\VHUD EHKRYHW DY XWELOGQLQJ L UHVSHNWLYH PnOJUXSS

œ6WXGHUD ROLND YlJDU DWW JHQRPI|UD XWELOGQLQJHQ

œ3ODQHUD JHQRPI|UDQGHW

œ7D IUDP XWELOGQLQJVPDWHULDO

œ,QLWLHUD UHNU\WHULQJ RFK XWELOGQLQJ DY OlUDUH

œ8WYlUGHUD XWELOGQLQJHQ

5HJHULQJHQ VNUHY L VLQD GLUHNWLY lYHQ QnJUD SXQNWHU RP GHQ DOOPlQQD LQULNWQLQJHQ KRV DUEHWHW PHG XWELOGQLQJHQ

œ6NDSD I|UXWVlWWQLQJDU I|U VDPUnG RFK HUIDUHQKHWVXWE\WH PHOODQ GH VRP JHQRPI|U XWELOGQLQJHQ

œ9HUND I|U DWW NXQVNDSVEDVHU E\JJV XSS

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

œ9HUND I|U DWW QlWYHUN I|U LQIRUPDWLRQ VNDSDV

6OXWOLJHQ ILQQV WYn IUDPnWV\IWDQGH SXQNWHU L UHJHULQJHQ GLUHNWLY

œJH I|UVODJ WLOO I|UElWWULQJDU LQI|U IUDPWLGD XWELOGQLQJDU

œWD IUDP HQ VWUDWHJL I|U KXU PLOM|EDONHQ VND WLOOlPSDV I|U DWW Qn GH DY ULNVGDJHQ L VlUVNLOG RUGQLQJ DQWDJQD PLOM|PnOHQ

$UEHWVVlWWHW L 3%/ XWELOGQLQJHQ VRP JHQRPI|UGHV Sn WDOHW NRP DOGULJ DWW GRNXPHQWHUDV L QnJRQ VW|UUH RPIDWWQLQJ 'HW lU PRW GHQQD EDNJUXQG PDQ VND VH UHJHULQJHQV GLUHNWLY RP XWYlUGHULQJ RFK DWW NRP PLWWpQ ILFN L XSSGUDJ DWW JH I|UVODJ WLOO I|UElWWULQJDU LQI|U IUDPWLGD XWELOGQLQJDU

'HQ VLVWD SXQNWHQ RP VWUDWHJL I|U PLOM|EDONHQV WLOOlPSQLQJ lU DQQRUOXQGD lQ GH |YULJD SXQNWHUQD L GLUHNWLYHQ 'HW lU WYHNVDPW RP GHQQD SXQNW HJHQWOLJHQ KDU PHG XWELOGQLQJ RP PLOM|EDONHQ DWW J|UD 0|MOLJHQ K|U SXQNWHQ LVWlOOHW VDPPDQ PHG PLOM|EDONHQ VRP VnGDQ RFK GHVV NRSSOLQJ WLOO DQGUD ODJDU 8WYlUGHULQJHQ RPIDWWDU GlUI|U LQWH NRPPLWWpQV DUEHWH Sn GHQQD SXQNW

8W|YHU UHJHULQJHQV GLUHNWLY IRUPXOHUDGH NRPPLWWpQ LQOHGQLQJVYLV WYn

KXYXGPnO I|U VLQ XWELOGQLQJVYHUNVDPKHW

œ*H DOOD PLOM|EDONVDNW|UHU HQ JHPHQVDP UDP I|U WLOOlPSQLQJHQ JHQRP HQ VDPPDQKnOOHQ XWELOGQLQJ

œ0LOM|EDONVXWELOGQLQJHQ VND

Qn DOOD EHU|UGD LQRP NRPPXQHU OlQVVW\UHOVHU RFK VWDWOLJD P\QGLJKHWHU

JH I|UXWVlWWQLQJDU I|U XWELOGQLQJ DY EHU|UGD LQRP QlULQJVOLY RFK

LQWUHVVHRUJDQLVDWLRQHU

, XSSOlJJQLQJHQ DY XWELOGQLQJHQ KDU NRPPLWWpQ VWDUNW SULRULWHUDW NRPPXQHU RFK OlQVVW\UHOVHU .XUVPDWHULDOHW KDU GRFN KnOOLWV WLOO JlQJOLJW I|U DOOD LQWUHVVHUDGH XWDQ FRS\ULJKW

.RQFHSWHW

6RP WLGLJDUH IUDPJnWW YDU XWELOGQLQJHQV XSSOlJJQLQJ UHGDQ IUnQ VWDUW I|UKnOODQGHYLV JLYHQ JHQRP DWW IOHUD PHGYHUNDQGH L NRPPLWWpQ RFK GHVV NDQVOL WLGLJDUH KDGH HUIDUHQKHW IUnQ 3%/ XWELOGQLQJHQ 0HG GHQ

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

NQDSSD WLG VRP VWRG WLOO I|UIRJDQGH YDU XWU\PPHW I|U Q\VNDSDQGH RFK

ULVNWDJDQGH LQWH VlUVNLOW VWRUW

.RPPLWWpQV UROO EOHY DWW DQSDVVD NRQFHSWHW HIWHU HWW Q\WW lPQH RFK

HQ PLQGUH EXGJHW 'HVVXWRP VNXOOH DUEHWHW J|UDV Sn EHW\GOLJW NRUWDUH

WLG RFK WURWV GHWWD ELEHKnOOD DUEHWVVlWWHW PHG HWW VWRUW DQWDO LQEODQGDGH

DNW|UHU EnGH Sn QDWLRQHOO RFK UHJLRQDO QLYn

8WELOGQLQJHQ RP PLOM|EDONHQ KDU JHQRPI|UWV Sn GHW VlWW VRP

LOOXVWUHUDV L ILJXU

)LJXU .RQFHSWHW EDNRP 0LOM|EDONVXWELOGQLQJHQ

'HSDUWHPHQW

.XUVPDWHULDO *UN g.

.DQVOL

1DWLRQHOOW 5HJLRQDOW

.RPPXQHU /lQVVW\UHOVHU

5HJLRQDOD NXUVDQRUGQDUH

.RPPLWWp

.XUVPDWHULDO )|UGM NXUVHU

6NULYDUH

/lUDUNXUVHU

/lUDUH

(OHYNXUVHU

(OHYHU

'LUHNWLY

0\QGLJKHWHU ,QWUHVVHRUJ

2UGI|UDQGH ([SHUWHU

)|UHWDJ

.RQVXOWHU

3ULYDWD NXUVDQRUGQDUH

.XUVHU KDU KnOOLWV Sn WYn QLYnHU GHOV I|U HOHYHU GHOV I|U HOHYHUQDV OlUDUH 0DQ KDU GlUI|U YDOW EHQlPQLQJHQ WYnVWHJVXWELOGQLQJ *HQRP DWW

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

RUJDQLVHUD XWELOGQLQJHQ L WYn VWHJ KDU PDQ VQDEEW YHODW VNDSD HQ WLOOIlOOLJ RUJDQLVDWLRQ VRP NDQ JHQRPI|UD HWW VWRUW DQWDO NXUVHU XQGHU HQ EHJUlQVDG WLGVSHULRG

(OHYHUQD XWELOGDV Sn NXUVHU VRP DQRUGQDV UHJLRQDOW DY GH UHJLRQDOD NRPPXQI|UEXQGHQ L VDPYHUNDQ PHG UHVSHNWLYH OlQVVW\UHOVH 'HVVD UHJLRQDOD NXUVDQRUGQDUH KDU KDIW GHW IXOOD DQVYDUHW DWW PDUNQDGVI|UD NXUVHUQD UHNU\WHUD HOHYHU RFK OlUDUH EHVWlOOD NXUVPDWHULDO IUnQ 0LOM|EDONVXWELOGQLQJHQ RFK DWW VN|WD DOOD SUDNWLVND DUUDQJHPDQJ 9LG VLGDQ DY GH UHJLRQDOD XWELOGQLQJVDQRUGQDUQD KDU GHW lYHQ IXQQLWV HWW XWEXG DY SULYDWD NXUVDQRUGQDUH 'HVVD KDU IUlPVW KDIW HOHYHU IUnQ QlULQJV OLYHW

/lUDUQD KRV GH UHJLRQDOD NXUVDQRUGQDUQD KDU IUlPVW UHNU\WHUDWV IUnQ NRPPXQHU RFK OlQVVW\UHOVHU 8WELOGQLQJHQ DY OlUDUQD KDU DQRUG QDWV DY 0LOM|EDONVXWELOGQLQJHQ , GHVVD QDWLRQHOOW DQRUGQDGH OlUDU NXUVHU KDU lYHQ OlUDUH IUnQ SULYDWD NXUVDQRUGQDUH YDULW YlONRPQD L EH JUlQVDG XWVWUlFNQLQJ 3n Vn VlWW KDU NRPPLWWpQ YHODW P|MOLJJ|UD lYHQ I|U NRQVXOWHU RFK SULYDWD I|UHWDJ DWW JHQRPI|UD NXUVHU PHG 0LOM|EDONV XWELOGQLQJHQV NXUVPDWHULDO

(Q DY DYVLNWHUQD PHG DWW UHNU\WHUD OlUDUQD IUnQ NRPPXQHU RFK OlQV VW\UHOVHU KDU YDULW DWW PDQ KDU YHODW In HWW DQWDO KDQGOlJJDUH Sn ORNDOD RFK UHJLRQDOD P\QGLJKHWHU VRP OlU VLJ GHQ Q\D ODJHQ EnGH WLGLJW RFK I|UKnOODQGHYLV XWI|UOLJW 8QGHUYLVQLQJVVLWXDWLRQHQ NUlYHU DWW PDQ VRP OlUDUH VlWWHU VLJ LQ UHODWLYW YlO L PDWHULDOHW 0DQ InU Sn GHWWD VlWW HQ I|U VWlUNW NXQVNDS KRV P\QGLJKHWHUQD MlPI|UW PHG RP PDQ DQOLWDW XWRP VWnHQGH H[SHUWHU VRP OlUDUH

0LOM|EDONVXWELOGQLQJHQ KDU UHNRPPHQGHUDW GH UHJLRQDOD NRPPXQ I|UEXQGHW DWW RUJDQLVHUD OlUDUQD L ODJ VRP WLOOVDPPDQV JHQRPI|U NXUVHUQD 3n Vn VlWW InU OlUDUH IUnQ ROLND NRPPXQHU RFK OlQVVW\UHOVHU QlUPDUH NRQWDNW PHG YDUDQGUD 'HWWD lU NRPPLWWpQV VlWW DWW YHUND I|U UHJHULQJHQV GLUHNWLY RP DWW VNDSD QlWYHUN

/lUDUQD RFK HOHYHUQD KDU KDIW VDPPD NXUVPDWHULDO EHVWnHQGH DY NRPSHQGLHU I|U GH VH[ ROLND NXUVHUQD 7LOO GHWWD KDU lYHQ IXQQLWV ELODJHNRPSHQGLHU PHG W H[ ODJWH[W I|URUGQLQJDU RFK KDQGOlJJQLQJV VFKHPD /lUDUQD KDU GHVVXWRP KDIW WLOOJnQJ WLOO OlUDUKDQGOHGQLQJDU

.XUVPDWHULDO RFK OlUDUKDQGOHGQLQJDU KDU YDULW WLOOJlQJOLJD I|U SULYDWD NXUVDQRUGQDUH WLOO VDPPD SULV VRP I|U GH UHJLRQDOD NXUV DQRUGQDUQD bYHQ GHWWD KDU LQJnWW L 0LOM|EDONVXWELOGQLQJHQV VWUlYDQ DWW VNDSD I|UXWVlWWQLQJDU I|U XWELOGQLQJ LQRP QlULQJVOLY RFK RUJDQLVDWLRQHU

.XUVPDWHULDO WLOO JUXQGNXUV RFK |YHUVLNWVNXUV KDU WDJLWV IUDP DY HQ DUEHWVJUXSS EHVWnHQGH DY NRPPLWWpQV OHGDP|WHU RFK HQ VNULYDUH VRP YDU DQVWlOOG Sn NDQVOLHW .XUVPDWHULDOHW WLOO I|UGMXSQLQJVNXUVHUQD KDU

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

WDJLWV IUDP DY DUEHWVJUXSSHU VDPPDQVDWWD DY RUGI|UDQGH VNULYDUH RFK H[SHUWHU 2UGI|UDQGH RFK H[SHUWHU KDU WLOOKDQGDKnOOWV DY FHQWUDOD VWDW OLJD P\QGLJKHWHU OlQVVW\UHOVHU NRPPXQI|UEXQG NRPPXQHU RFK ,QGXVWULI|UEXQGHW 6NULYDUQD UHNU\WHUDGHV VlUVNLOW DY NRPPLWWpQ

.RPPLWWpQ KDU lYHQ JUDQVNDW NXUVPDWHULDOHW WLOO I|UGMXSQLQJVNXUVHUQD 'HSDUWHPHQWHW KDU VOXWOLJHQ JUDQVNDW DOOD NXUVNRPSHQGLHU

$UEHWVJUXSSHUQDV PHGOHPPDU YDU lYHQ OlUDUH Sn OlUDUNXUVHUQD 3n Vn VlWW NXQGH PDQ XWQ\WWMD DWW GH L VLWW DUEHWH L DUEHWVJUXSSHUQD UHGDQ KDGH VDWW VLJ LQ L PLOM|EDONHQ

*HQRP VDPYHUNDQ PHOODQ PnQJD DNW|UHUQD L DUEHWVJUXSSHUQD YLOOH PDQ In ODJHQ PHU DOOVLGLJW EHO\VW lQ RP HQ HQVWDND DNW|U KDGH InWW L XSSJLIW DWW WD IUDP XWELOGQLQJVPDWHULDOHW 0HGYHUNDQ IUnQ PnQJD DNW|UHU VNXOOH lYHQ PHGI|UD DWW DNW|UHUQD DQVnJ PDWHULDOHW VRP VLWW HJHW RFK GlUPHG VNXOOH YLOMD XWJn IUnQ GHW L XWELOGQLQJHQ DY VLQD HJQD PHGDUEHWDUH 3n Vn VlWW VNXOOH PDQ NXQQD In HQ VW|UUH JUDG DY HQKHWOLJKHW L NXQVNDSV|YHU I|ULQJHQ RFK In HQ VW|UUH WlFNQLQJ EODQG PnOJUXSSHUQD

0DQ KDU lYHQ YHUNDW I|U HQKHWOLJKHW JHQRP DWW WD IUDP OlUDUKDQG OHGQLQJDU SDNHW PHG 2+ ELOGHU RFK IlUGLJD |YQLQJVH[HPSHO *HQRP DWW XQGHUOlWWD OlUDUQDV DUEHWH YLOOH PDQ XQGYLND DWW GHVVD VNXOOH J|UD HJHW PDWHULDO HOOHU HJHQ XSSOlJJQLQJ DY NXUVHUQD

3ULRULWHULQJ

, GHQ XWELOGQLQJVSODQ VRP 0LOM|EDONVXWELOGQLQJHQ |YHUOlPQDGH WLOO PLOM|GHSDUWHPHQWHW L IHEUXDUL IDQQV UHGDQ GH SULRULWHULQJDU JMRUGD VRP VHGDQ VW\UW NRPPLWWpQV DUEHWH 3n JUXQG DY NQDSSD UHVXUVHU YDOGH PDQ LQOHGQLQJVYLV DWW LQWH ULNWD LQIRUPDWLRQ WLOO DOOPlQKHWHQ RFK DWW IUlPVW LQULNWD NXUVPDWHULDOHW PRW EHKRYHW KRV EHU|UGD L NRPPXQHU RFK OlQVVW\UHOVHU

1lULQJVOLYHWV EHKRY DY XWELOGQLQJHQ KDQWHUDGHV Sn ROLND VlWW *HQRP GHOWDJDQGH L OlUDUNXUVHU KDU PHGDUEHWDUH KRV IUlPVW GH VWRUD I|UHWDJHQ NXQQDW XWELOGD VLJ WLOO OlUDUH I|U DWW L VLQ WXU XWELOGD YLGDUH LQRP GHQ HJQD RUJDQLVDWLRQHQ 3n PRWVYDUDQGH VlWW KDU DQVWlOOGD Sn NRQVXOWI|UHWDJ NXQQDW Jn OlUDUNXUVHUQD I|U DWW VHGDQ VlOMD XWELOGQLQJ YLGDUH WLOO DQGUD I|UHWDJ 'HW lU IUDPI|U DOOW VWRUD RFK PHGHOVWRUD I|UHWDJ VRP QnV DY XWELOGQLQJ Sn GHWWD VlWW

)|UHWDJHQ KDU lYHQ KDIW P|MOLJKHW DWW GHOWD L GH UHJLRQDOW DQRUGQDGH HOHYNXUVHUQD 0nOJUXSSHQ lU IUlPVW VPn RFK PHGHOVWRUD I|UHWDJ $QWDOHW SODWVHU KDU GRFN YDULW EHJUlQVDW HIWHUVRP GH UHJLRQDOD NRP

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

PXQI|UEXQGHQ L KXYXGVDN VHU NRPPXQHU RFK OlQVVW\UHOVHU VRP VLQD SULPlUD PnOJUXSSHU .RPPLWWpQV DUEHWVVlWW KDU GlUPHG LQQHEXULW DWW XW ELOGQLQJ RFK LQIRUPDWLRQ WLOO VPnI|UHWDJ KDU SULRULWHUDWV QHG

.RPPLWWpQ KDU lYHQ JMRUW HQ SULRULWHULQJ VRP LQWH IUDPJnU DY XWELOGQLQJVSODQHQ PHQ VRP LVWlOOHW IUDPJnWW L GH LQWHUYMXHU VRP XWYlUGHULQJHQ KDU JHQRPI|UW PHG NRPPLWWpQV OHGDP|WHU RFK NDQVOL 0DQ KDU KDIW PnOHW DWW I|PHGOD KHOKHWHQ L PLOM|EDONHQ 2UVDNHQ lU DWW PLOM|EDONHQ EO D KDU VNDSDWV JHQRP VDPPDQOlJJQLQJ DY ROLND ODJDU 'HW KDU GlUI|U YDULW YLNWLJW I|U NRPPLWWpQ DWW I|UPHGOD GH JHPHQVDPPD QlPQDUQD VRP NQ\WHU VDPPDQ GH ROLND GHODUQD WLOO HQ KHOKHW

9LOMDQ DWW I|UPHGOD KHOKHWHQ L NRPELQDWLRQ PHG GH EHJUlQVDGH HNRQRPLVND UDPDUQD KDU JMRUW DWW PDQ LQWH KDU WDJLW IUDP PHU VSHFLDOLFHUDW PDWHULDO 7LOO H[HPSHO KDU PDQ SULRULWHUDW ERUW DWW WD IUDP NXUVPDWHULDO RP VHSDUDWD lPQHVRPUnGHQ YHUNW\J L EDONHQ HOOHU I|U ROLND EUDQVFKHU LQRP QlULQJVOLYHW

.RVWQDGHU

.RVWQDGHUQD I|U DNWLYLWHWHUQD Sn GHQ QDWLRQHOOD QLYnQ ILQDQVLHUDGHV Sn WYn VlWW .RPPLWWpQV EXGJHW VYDUDGH I|U NRVWQDGHUQD I|U

œNRPPLWWpQ RFK NDQVOLHW

œQnJUD DY VNULYDUQD

œRPNRVWQDGHU L OlUDUXWELOGQLQJHQ

œSURGXNWLRQ RFK GLVWULEXWLRQ DY NXUVPDWHULDO

œLQIRUPDWLRQVPDWHULDO

œKHPVLGD

œXWYlUGHULQJ

0\QGLJKHWHU RFK RUJDQLVDWLRQHU VRP GHOWRJ PHG RUGI|UDQGH L DUEHWV JUXSSHU RFK H[SHUWHU VYDUDGH I|U O|QHNRVWQDGHQ I|U GHQ DYVDWWD WLGHQ I|U

œDUEHWHW PHG IUDPWDJQLQJ DY NXUVPDWHULDOHW

œQnJUD DY VNULYDUQD

œOlUDUH Sn OlUDUNXUVHUQD

3n UHNRPPHQGDWLRQ DY 0LOM|EDONVXWELOGQLQJHQ KDU GH UHJLRQDOD NXUV DQRUGQDUQD L KXYXGVDN SULVVDWW NXUVHUQD HIWHU VMlOYNRVWQDG I|U HOHYHU

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

IUnQ P\QGLJKHWHU (OHYHU IUnQ QlULQJVOLYHW KDU DQWLQJHQ EHWDODW VMlOY NRVWQDGVSULV HOOHU PDUNQDGVSULV

.RVWQDGHQ I|U WU\FN RFK GLVWULEXWLRQ DY NXUVPDWHULDO ILQDQVLHUDGHV JHQRP DWW 0LOM|EDONVXWELOGQLQJHQ WRJ EHWDOW I|U NXUVPDWHULDOHW WLOO VMlOYNRVWQDGVSULV

.XUVHU

.RPPLWWpQ NRP DWW LGHQWLILHUD WYn KXYXGVDNOLJD PnOJUXSSHU I|U XWELOG QLQJDUQD

œ+DQGOlJJDUH L P\QGLJKHWVXW|YDQGH VWlOOQLQJ

œ%HU|UGD FKHIHU L RIIHQWOLJ I|UYDOWQLQJ EHU|UGD SROLWLNHU RFK EHU|UGD LQRP QlULQJVOLYHW

)|U KDQGOlJJDUQD VDWWH PDQ VDPPDQ HQ JUXQGNXUV VRP RPIDWWDGH WUH NXUVGDJDU VDPW I\UD I|UGMXSQLQJVNXUVHU RP WYn WLOO WUH GDJDU )|U PnO JUXSSHQ PHG SROLWLNHU FKHIHU RFK QlULQJVOLY VDWWH PDQ VDPPDQ HQ |YHUVLNWVNXUV VRP RPIDWWDGH HQ NXUVGDJ 7UH DY I|UGMXSQLQJVNXUVHUQD GHODGHV LQ HIWHU KXU DUEHWHW PHG PLOM|IUnJRU RIWD lU RUJDQLVHUDW KRV P\QGLJKHWHUQD

œ0LOM| RFK +lOVD 7\QJGSXQNW KRV NRPPXQHUQDV PLOM| RFK KlOVR VN\GGVKDQGOlJJDUH

œ1DWXU RFK .XOWXU 7\QJGSXQNW KRV /lQVVW\UHOVHUQD

œ0LOM|EDONHQ RFK GHQ I\VLVND SODQHULQJHQ 7\QJGSXQNW KRV PHGDU EHWDUH L NRPPXQHU RFK OlQVVW\UHOVHU VRP DUEHWDU PHG I\VLVN SODQHULQJ

'HQ IMlUGH I|UGMXSQLQJVNXUVHU $WW DQYlQGD PLOM|EDONHQ YlQGHU VLJ WLOO KDQGOlJJDUH VRP NRQNUHW WLOOlPSDU PLOM|EDONHQ RFK EHKDQGODU GHW SUDNWLVND DUEHWHW PHG SU|YQLQJ RFK |YHUNODJDQGH

(OHYHUQDV RFK OlUDUQDV EHG|PQLQJ

)|U DWW In UHGD Sn HOHYHUQDV XSSIDWWQLQJ DY GH JHQRPI|UGD NXUVHUQD KDU XWYlUGHULQJHQ JHQRPI|UW HQ HQNlWXQGHUV|NQLQJ EODQG NRPPXQDOD

(QNlWXQGHUV|NQLQJHQ KDU UHGRYLVDWV L HQ VHSDUDW XQGHUODJVUDSSRUW WLOO XWYlUGHULQJHQ

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

PLOM|FKHIHU FKHIHU Sn OlQVVW\UHOVHU RUGI|UDQGH L NRPPXQHUQDV PLOM|QlPQGHU RFK EODQG PLOM|FKHIHU PLOM|VDPRUGQDUH L I|UHWDJ

, HQNlWXQGHUV|NQLQJ KDU EODQG DQQDW HQ IUnJD VWlOOWV RP GHW KDU IXQQLWV NXUVHU LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ VRP PDQ KDU VDNQDW 7DQNHQ lU DWW JHQRP GHQQD IUnJD InQJD XSS KXU YlO 0LOM|EDONV XWELOGQLQJHQV NXUVXWEXG PRWVYDUDW HOHYHUQDV I|UYlQWQLQJDU 0HOODQ

SURFHQW KDU DQJLYLW QnJRW VYDU 9DQOLJDVW I|UHNRPPHU |QVNHPnO RP QnJRQ IRUP DY I|UGMXSQLQJ L HWW lPQHVRPUnGH L QnJRW DY PLOM|EDONHQV YHUNW\J W H[ 0.% HOOHU L PHU EUDQVFKVSHFLILN XWELOGQLQJ +XU PLOM| EDONHQ SnYHUNDU MRUGEUXNHW QlPQV HWW IOHUWDO JnQJHU VRP H[HPSHO GlU PDQ DQVHU DWW XWELOGQLQJHQ LQWH KDU WlFNW EHKRYHW

6RP IUDPJnWW L WLGLJDUH NDSLWHO KDU NRPPLWWpQ DY HNRQRPLVND VNlO PHGYHWHW SULRULWHUDW ERUW GHQQD W\S DY VPDODUH I|UGMXSQLQJVNXUVHU )UnJDQ RP VnGDQD NXUVHU EHKDQGODV GlUI|U L NDSLWOHW RP )RUWVDWW LQIRU PDWLRQ RFK XWELOGQLQJ 8WYlUGHULQJHQ GUDU GlUI|U VOXWVDWVHQ DWW XWEXGHW KDU PRWVYDUDW HOHYHUQD I|UYlQWQLQJ JLYHW GH DYJUlQVQLQJDU NRPPLWWpQ KDU JMRUW

8QGHU NRPPLWWpQV DUEHWH PHG NXUVPDWHULDOHW ILFN PDQ V\QSXQNWHU Sn DWW WLOOV\QVIUnJRUQD EHK|YGH In VW|UUH XWU\PPH $Y GHWWD VNlO NRP NXUVHQ 0LOM| RFK KlOVD DWW I|UOlQJDV PHG HQ GDJ WLOO VDPPDQODJW WUH GDJDU , GH XWYlUGHULQJVVHPLQDULHU VRP KDU KnOOLWV PHG OlUDUH RFK UHJLRQDOD NXUVDQRUGQDUH KDU GHW IUDPNRPPLW DWW PDQ DQVHU DWW WLOOV\QV IUnJRUQD NRP L VN\PXQGDQ lYHQ Sn NXUVHQ 1DWXU RFK NXOWXU 'HW KDGH P|MOLJHQ YDULW EHIRJDW DWW lYHQ I|UOlQJD GHQQD I|UGMXSQLQJVNXUV PHG HQ GDJ

, XWYlUGHULQJVVHPLQDULHUQD KDU GHW lYHQ IUDPNRPPLW DWW PDQ KDU KDIW VYnUW DWW J|UD |YHUVLNWVNXUVHUQD Vn DWW GH KDU IXQJHUDW EUD I|U SROLWLNHU 0DQ XSSIDWWDU DWW GHQQD PnOJUXSS LQWH L DOOD GHODU lU LQWUHV VHUDG DY GHQ KHOKHW VRP NRPPLWWpQ KDU YHODW I|UPHGOD L VLQD NXUVHU 0DQ HIWHUIUnJDU QnJRQ IRUP DY VSHFLDODQSDVVDG RULHQWHULQJVNXUV PHG HQ LQULNWQLQJ PRW SROLWLNHUV SHUVSHNWLY DY GHQ Q\D ODJHQ 'H NXUVHU VRP WDJLWV IUDP DY NRPPLWWpQ KDU IUlPVW KDIW HWW WMlQVWHPDQQDSHUVSHNWLY

7URWV DWW OlUDUQD KDU XSSOHYW GHQQD VYnULJKHW PHG DWW JHQRPI|UD NXUVHU I|U SROLWLNHU InU PDQ OLND EUD EHW\J DY PLOM|QlPQGHUQDV RUG I|UDQGH VRP PDQ InU DY PLOM|FKHIHUQD L XWYlUGHULQJHQV HQNlW XQGHUV|NQLQJ /lUDUQD YHUNDU PHG DQGUD RUG KD NODUDW XSSJLIWHQ YlO lYHQ RP PDQ XSSOHYW GHQ YDUD VYnU

8WYlUGHULQJVVHPLQDULHUQD KDU UHGRYLVDWV L HQ VHSDUDW XQGHUODJVUDSSRUW WLOO XWYlUGHULQJHQ

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

, XWYlUGHULQJHQV HQNlWXQGHUV|NQLQJ KDU HOHYHUQD InWW YlUGHUD NYDOL WHWHQ L GH NXUVHU PDQ KDU GHOWDJLW L *HQRPJnHQGH JHU PDQ P\FNHW SRVLWLYD RPG|PHQ (QGDVW L WYn IDOO JHU HOHYHUQD HWW LQWH KHOW IXOOJRWW EHW\J 'HW JlOOHU PLOM| SODQFKHIHU Sn OlQVVW\UHOVHUQD VRP LQWH YDU KHOW Q|MGD PHG |YHUVLNWVNXUVHQ 6DQQROLNKHWHQ lU EHW\GDQGH DWW GHWWD EHURU Sn DWW |YHUVLNWVNXUVHQ YDU Sn HQ I|U OnJ QLYn I|U FKHIHU Sn OlQVVW\UHOVHU

(WW LQWH RGHODW SRVLWLYW RPG|PH JHU GHVVXWRP NRPPXQHUQDV PLOM|FKHIHU RP NXUVHQ 0LOM|EDONHQ RFK GHQ I\VLVND SODQHULQJHQ .XU VHQ I|UXWVDWWH NlQQHGRP lYHQ RP DQGUD ODJDU EO D 3%/ YDUI|U GHQ DY PnQJD XSSIDWWDGHV VRP VYnU 'HWWD IUDPJnU DY GH XWYlUGHULQJVVHPL QDULHU VRP KDU KnOOLWV PHG OlUDUH RFK UHJLRQDOD NXUVDQRUGQDUH 'lU KDU lYHQ IUDPJnWW DWW OlUDUQD LQWH lU KHOW Q|MGD PHG NXUVNRPSHQGLHW WLOO GHQQD NXUV 0DQ DQVHU GHVVXWRP DWW NXUVXSSOlJJQLQJHQ LQWH YDU WLOO UlFNOLJW JHQRPDUEHWDG QlU OlUDUNXUVHUQD K|OOV

'H UHJLRQDOD NXUVDQRUGQDUQD KDU DYVOXWDW HOHYNXUVHUQD PHG DWW JHQRPI|UD HQ VNULIWOLJ NXUVXWYlUGHULQJ (OHYHUQDV EHG|PQLQJ DY NXU VHUQD lU I|UKnOODQGHYLV MlPQ PHG HWW XQGDQWDJ .XUVHQ 0LOM|EDONHQ RFK GHQ I\VLVND SODQHULQJHQ InU SnWDJOLJ VSULGQLQJ L WYn DVSHNWHU NXUV XSSOlJJQLQJ RFK OlUDUQD bYHQ GHWWD lU VDQQROLNW HQ HIIHNW DY DWW GHQQD NXUV XSSOHYWV VRP VYnU RFK DWW OlUDUQD LQWH KDU KDIW WLOOUlFNOLJW VW|G L NXUVPDWHULDO RFK OlUDUKDQGOHGQLQJ

-lPI|UHOVH PHG DQGUD NXUVDQRUGQDUH

)|U DWW In P|MOLJKHW DWW MlPI|UD 0LOM|EDONVXWELOGQLQJHQV NXUVHU PHG DQGUD NXUVDQRUGQDUHV NXUVHU KDU lYHQ HWW DQWDO PLOM| FKHIHU PLOM|VDPRUGQDUH KRV I|UHWDJ LQJnWW L XWYlUGHULQJHQV HQNlW XQGHUV|NQLQJ

'HW YLVDU VLJ DWW GH PLOM|FKHIHU PLOM|VDPRUGQDUH VRP KDU JnWW Sn NXUV LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ JHU HWW QnJRW ElWWUH EHW\J lQ GH VRP JnWW Sn NXUV KRV DQGUD XWELOGQLQJVDQRUGQDUH (QGDVW QlU GHW JlOOHU OlUDUQDV MXULGLVND NRPSHWHQV JHU PDQ ElWWUH EHW\J nW XWELOGQLQJV DQRUGQDUH XWDQI|U 0LOM|EDONVXWELOGQLQJHQ

(QNlWHU VNLFNDGHV WLOO I|UHWDJ VRP lU PHGOHPPDU L 1lULQJVOLYHWV PLOM|FKHIHU10&

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

6OXWVDWVHU

œ.RPPLWWpQ KDU XWIRUPDW NXUVHU VRP |YHUHQVVWlPW PHG HOHYHUQDV HIWHUIUnJDQ JLYHW GH |YHUJULSDQGH SULRULWHULQJDU VRP NRPPLWWpQ KDU JMRUW

œ(Q |YHUVLNWVNXUV PHU VNUlGGDUV\GG I|U NRPPXQDOD PLOM|SROLWLNHU HIWHUIUnJDV IUnQ OlUDUQD

œ.XUVHQ 1DWXU RFK NXOWXU KDGH P|MOLJHQ NXQQDW I|UOlQJDV HQ GDJ I|U DWW JH VW|UUH XWU\PPH nW WLOOV\QVIUnJRU

œ(OHYHUQD JHU L KXYXGVDN EUD HOOHU P\FNHW EUD EHW\J nW NYDOLWHWHQ KRV GH UHJLRQDOW DQRUGQDGH NXUVHUQD

œ.XUVHUQD LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ InU QnJRW ElWWUH EHW\J DY PLOM|FKHIHU PLOM|VDPRUGQDUH Sn I|UHWDJ lQ PRWVYDUDQGH NXU VHU KRV DQGUD XWELOGQLQJVDQRUGQDUH

2PIDWWQLQJ

2PIDWWQLQJHQ DY NXUVYHUNVDPKHWHQ SODQHUDGHV JHQRP HQ |YHUVODJV EHUlNQLQJ DY NRPPLWWpQ 0DQ XWJLFN IUnQ HQ JHQRPVQLWWVNRPPXQ RFK HQ XSSVNDWWQLQJ DY DQWDOHW EHU|UGD WMlQVWHPlQ RFK SROLWLNHU RFK PXOWLSOLFHUDGH VHGDQ PHG DQWDOHW NRPPXQHU 7LOO GHWWD DGGHUDGH PDQ HQ XSSVNDWWQLQJ DY DQWDOHW KDQGOlJJDUH Sn OlQVVW\UHOVHU RFK VWDWOLJD P\QGLJKHWHU VDPW DQWDOHW IUnQ QlULQJVOLYHW RFK LQWUHVVHRUJDQLVDWLRQHU

8WIDOO

8WIDOOHW KDU L P\FNHW VWRU XWVWUlFNQLQJ NRPPLW DWW VDPPDQIDOOD PHG NRPPLWWpQV XUVSUXQJOLJD XSSVNDWWQLQJ $QWDOHW HOHYHU Sn |YHUVLNWV NXUVHQ 0LOM| RFK KlOVD VDPW 1DWXU RFK NXOWXU KDU OHJDW LQRP SURFHQW IUnQ EHUlNQLQJHQ

(QGDVW Sn JUXQGNXUVHQ KDU DYYLNHOVHQ YDULW SnWDJOLJ PHG SURFHQW IOHU HOHYHU lQ SODQHUDW 'HW lU GHOWDJDUH IUnQ NRPPXQHUQD VRP KDU EOLYLW IOHU lQ YDG PDQ KDGH UlNQDW PHG 1lU GHW JlOOHU |YHUVLNWVNXUVHQ KDU GHW LVWlOOHW YDULW IlUUH GHOWDJDUH lQ EHUlNQDW IUnQ NRPPXQHUQD 'HWWD KDU NRPSHQVHUDWV DY DWW DQWDOHW GHOWDJDUH IUnQ QlULQJVOLYHW EOLYLW VW|UUH lQ YlQWDW

7RWDOW KDU GHW GHOWDJLW HOHYHU Sn |YHUVLNWVNXUVHUQD Sn JUXQGNXUVHUQD RFK Sn I|UGMXSQLQJVNXUVHUQD $QWDOHW Sn I|UGMXS

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

QLQJVNXUVHUQD NRPPHU VOXWOLJHQ DWW EOL FD IOHU HIWHUVRP NXUVHQ $WW DQYlQGD PLOM|EDONHQ KnOOHU Sn DWW JHQRPI|UDV QlU GHWWD VNULYV

7lFNQLQJ

)|U DWW VWlPPD DY RP XWELOGQLQJHQV RPIDWWQLQJ PRWVYDUDW HIWHUIUnJDQ KDU IUnJRU RP GHWWD VWlOOWV L GHQ HOHYHQNlW VRP JHQRPI|UWV L XWYlU GHULQJHQ 'HW YLVDU VLJ DWW PHOODQ RFK SURFHQW DY NRPPXQHUQDV PLOM|FKHIHU RFK FKHIHUQD Sn OlQVVW\UHOVHUQDV PLOM| RFK SODQHQKHWHU KDU JnWW PLQVW HQ NXUV LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ %ODQG FKHIHUQDV PHGDUEHWDUH KDU PDQ L JHQRPVQLWW JnWW WYn NXUVHU SHU PHG DUEHWDUH 0LOM|EDONVXWELOGQLQJHQ KDU PHG DQGUD RUG KDIW HQ P\FNHW JRG WlFNQLQJVJUDG L GH VWRUD JUXSSHUQD DY WMlQVWHPlQ

%ODQG GH NRPPXQDOD WMlQVWHPlQ VRP DUEHWDU PHG I\VLVN SODQHULQJ KDU WlFNQLQJVJUDGHQ LQWH YDULW IXOOW OLND JRG 'lU VYDUDU PDQ L KlOIWHQ DY NRPPXQHUQD DWW IOHUWDOHW KDQGOlJJDUH KDU JnWW Sn XWELOGQLQJ RP PLOM|EDONHQ PHQ L HQ IMlUGHGHO DY NRPPXQHUQD VYDUDU PDQ DWW HQGDVW HWW InWDO KDU JnWW Sn NXUV

%ODQG SROLWLNHUQD L GH NRPPXQDOD PLOM|QlPQGHUQD KDU GHOWDJDQGHW LQWH YDULW OLND VWRUW VRP EODQG |YULJD PnOJUXSSHU 8QJHIlU KlOIWHQ DY PLOM|QlPQGHUQDV OHGDP|WHU KDU GHOWDJLW L XWELOGQLQJHQ 'HWWD lU HQ DY I|UNODULQJDUQD WLOO DWW DQWDOHW GHOWDJDUH IUnQ NRPPXQHUQD Sn |YHUVLNWV NXUVHQ LQWH EOHY Vn VWRUW VRP PDQ KDGH EHUlNQDW , XWYlUGHULQJV VHPLQDULHUQD KDU OlUDUH RFK UHJLRQDOD NXUVDQRUGQDUH I|UNODUDW GHWWD PHG DWW SROLWLNHUQD LQWH KDU KDIW OLND EUnWWRP PHG DWW OlUD VLJ RP PLOM| EDONHQ VRP WMlQVWHPlQQHQ 6OXWVDWVHQ EOLU GlUI|U DWW GHW NDQ ILQQDV XW U\PPH I|U IRUWVDWW XWELOGQLQJ L |YHUVLNWVNXUVHQ ULNWDW VlUVNLOW WLOO SROL WLNHU L NRPPXQDOD PLOM|QlPQGHU

, XWYlUGHULQJVVHPLQDULHUQD NRQVWDWHUDU OlUDUQD DWW GHW ILQQV \WWHU OLJDUH QnJUD YLNWLJD PnOJUXSSHU VRP LQWH KDU QnWWV DY XWELOGQLQJ L WLOO UlFNOLJ RPIDWWQLQJ 'HW JlOOHU NRPPXQDOD I|UYDOWQLQJVFKHIHU RFK I|UH WUlGDUH IUnQ NRPPXQDOD YHUNVDPKHWVXW|YDUH bYHQ HIWHUIUnJDQ IUnQ GHVVD EnGD JUXSSHU NRPPHU P|MOLJHQ UHODWLYW VHQW RFK VNXOOH NXQQD PRWLYHUD DWW |YHUVLNWVNXUVHU DQRUGQDV IOHU JnQJHU

0DUNQDGVI|ULQJ

/lUDUQD KDU L XWYlUGHULQJVVHPLQDULHUQD EHUlWWDW DWW LQIRUPDWLRQHQ RP GH ROLND NXUVHUQD LQWH DOOWLG KDU YDULW WLOOUlFNOLJW YlJOHGDQGH I|U GH WLOO

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

WlQNWD HOHYHUQD 'HW KDU I|UHNRPPLW HQ GHO HOHYHU VRP KDU KDPQDW Sn IHO NXUVHU EnGH QlU GHW JlOOHU |YHUVLNWVNXUV JUXQGNXUV RFK QlU GHW JlOOHU LQE|UGHV PHOODQ I|UGMXSQLQJVNXUVHUQD 8SSJLIWHQ DWW PDUNQDGV I|UD KDU OHJDW Sn GH UHJLRQDOD NXUVDQRUGQDUQD PHQ PDQ KDU LQWH InWW VW|G IUnQ NRPPLWWpQ PHG JHQRPDUEHWDGH XQGHUODJ I|U PDUNQDGV I|ULQJHQ 0HG WDQNH Sn GH V\QSXQNWHU VRP KDU NRPPLW IUnQ OlUDUQD VNXOOH HWW VnGDQW PDWHULDO VDQQROLNW I|UElWWUDW PDUNQDGVI|ULQJHQ

'HW KDU lYHQ I|UHNRPPLW V\QSXQNWHU Sn GH UHJLRQDOD NXUVDQRUG QDUQDV PHWRG DWW DGUHVVHUD LQIRUPDWLRQVPDWHULDO , IOHUD IDOO KDU PDQ VNLFNDW XW LQIRUPDWLRQ RSHUVRQOLJW DGUHVVHUDG RFK KRSSDWV Sn DWW PDWHULDOHW GHODWV XW LQRP P\QGLJKHWHUQD (Q VW|UUH SUHFLVLRQ L DGUHV VHULQJ VNXOOH P|MOLJHQ KD NXQQDW |ND GHOWDJDQGHW IUnQ GH SHULIHUD PHQ lQGn YLNWLJD PnOJUXSSHUQD VRP .RPPXQDOD I|UYDOWQLQJVFKHIHU RFK NRPPXQDOD YHUNVDPKHWVXW|YDUH

1lULQJVOLYHW

8WELOGQLQJ I|U QlULQJVOLYHW YDU SODQHUDG DWW IUlPVW VNH L SULYDW UHJL +HOD 0LOM|EDONVXWELOGQLQJHQV NXUVPDWHULDO KDU IXQQLWV WLOOJlQJOLJW I|U SULYDWD NXUVDQRUGQDUH RFK I|UHWDJ VRP VMlOYD YHODW DQRUGQD NXUVHU $QWDOHW HOHYHU VRP KDU JnWW Sn SULYDW DQRUGQDGH NXUVHU EDVHUDGH Sn 0LOM|EDONVXWELOGQLQJHQV PDWHULDO lU VYnUW DWW XSSVNDWWD 8WELOGQLQJV PDWHULDOHW VWnU IULWW WLOO DOODV Q\WWMDQGH YLONHW J|U DWW NXUVDQRUGQDUH NDQ VD[D XU PDWHULDOHW HIWHU HJHW EHKRY $QWDOHW VnOGD NXUVNRPSHQGLHU WLOO SULYDWD I|UHWDJ RFK NRQVXOWI|UHWDJ ULVNHUDU GlUI|U DWW XQGHUVNDWWD GHQ YHUNOLJD RPIDWWQLQJHQ Sn DQYlQGDQGHW DY 0LOM|EDONVXWELOGQLQJHQV PDWHULDO 7LOO NRQVXOWI|UHWDJ KDU GHW VnOWV FD NRPSHQGLHU WLOO JUXQGNXUVHQ RFK FD WLOO |YHUVLNWVNXUVHQ 7LOO I|UHWDJ XWRP NRQVXOW I|UHWDJ KDU GHW VnOWV FD NRPSHQGLHU WLOO JUXQGNXUVHQ RFK

WLOO |YHUVLNWVNXUVHQ 6DPPDQODJW KDU GHW DOOWVn VnOWV H[HPSODU DY NRPSHQGLHUQD L |YHUVLNWVNXUV RFK JUXQGNXUV PHGDQ NRPSHQGLHU WLOO I|UGMXSQLQJVNXUVHU KDU VnOWV L VDPPDQODJW FD H[HPSODU

'H UHJLRQDOD NXUVDQRUGQDUQD KDU YLG VLGDQ DY QlULQJVOLYHWV HJQD NXUVHU KDIW FD NXUVGHOWDJDUH IUnQ I|UHWDJ GYV FD SURFHQW DY DOOD GHOWDJDUH , XWYlUGHULQJVVHPLQDULHUQD KDU GHW IUDPJnWW DWW GH UHJLRQDOD NXUVDQRUGQDUQD KDU KDIW P\FNHW ROLND LQVWlOOQLQJ WLOO GHOWDJDQGH IUnQ QlULQJVOLYHW 9LVVD KDU YHUNOLJHQ VDWVDW Sn DWW In GHOWDJDUH IUnQ I|UH WDJHQ PHGDQ DQGUD KDU SULRULWHUDW QHG GHQQD PnOJUXSS 1HGSULRUL WHULQJHQ KDU EO D EHURWW Sn DWW GH UHJLRQDOD NRPPXQI|UEXQG RIWDVW LQWH

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

VHU I|UHWDJHQ VRP VLQ SULPlUD PnOJUXSS XWDQ DWW PDQ IUlPVW DUEHWDU PHG IRUWELOGQLQJ I|U OlQHWV NRPPXQHU

gYHUVLNWVNXUVHQ NDQ WDV VRP H[HPSHO Sn VSULGQLQJHQ PHOODQ GH UHJLRQDOD NXUVDQRUGQDUQD $QGHOHQ HOHYHU IUnQ QlULQJVOLYHW L |YHUVLNWV NXUVHUQD KDU YDULW K|J L +DOODQG SURFHQW 8SSVDOD SURFHQW 'DODUQD SURFHQW RFK 6NnQH SURFHQW , I|OMDQGH OlQ KDU DQGHOHQ LVWlOOHW YDULW XQGHU SURFHQW 6|GHUPDQODQG *RWODQG 9lVWPDQODQG RFK 1RUUERWWHQ

bYHQ GHQ WLG OlUDUQD KDU NXQQDW DYVlWWD I|U DWW GHOWD L XWELOGQLQJHQ KDU YDULW HQ IDNWRU VRP SnYHUNDW KXU P\FNHW PDQ L UHJLRQHUQD KDU YHODW VDWVD Sn NXUVHU I|U QlULQJVOLYHW 'H IOHVWD DY OlUDUQD KDU VLWW YDQOLJ DUEHWH Sn NRPPXQ OlQVVW\UHOH HOOHU DQQDQ P\QGLJKHW RFK KDU RIWD HQ SUHVVDG DUEHWVVLWXDWLRQ UHGDQ XWDQ OlUDUVNDSHW 0nQJD OlUDUH XSSIDWWDU GlUI|U HQ DOOWI|U RPIDWWDQGH NXUVYHUNVDPKHW VRP HWW KLQGHU I|U DWW XW I|UD VLWW RUGLQDULH DUEHWH $QGUD OlUDUH KDU LVWlOOHW UHVRQHUDW WYlUW RP )|UHWDJHQ EHK|YHU XWELOGDV RFK RP PDQ LQWH J|U GHW Sn NXUV NRPPHU PDQ VRP KDQGOlJJDUH DWW EHK|YD XWELOGD GHP HQ RFK HQ L VDPEDQG PHG WLOOV\QVDUEHWHW

$QSDVVQLQJ WLOO PnOJUXSSHU

.XUVHU VRP lU VlUVNLOW DQSDVVDGH WLOO ROLND PnOJUXSSHU KDU GLVNXWHUDWV Sn XWYlUGHULQJVVHPLQDULHUQD VRP HQ YlJ DWW Qn IOHUD GHOWDJDUH 'HWWD KDU IUDPI|U DOOW JlOOW |YHUVLNWVNXUVHUQD HIWHUVRP GHVVD ULNWDU VLJ WLOO Vn VNLOGD PnOJUXSSHU .XUVPDWHULDO VlUVNLOW DQSDVVDW I|U SROLWLNHU RFK QlULQJVOLY NRPPXQDOD YHUNVDPKHWVXW|YDUH UHVSHNWLYH NRPPXQDOD I|U YDOWQLQJVFKHIHU lU QnJRW VRP KDGH XSSVNDWWDWV RP GHW KDGH IXQQLWV

%ODQG GH VNUlGGDUV\GGD |YHUVLNWVNXUVHUQD lU GHW GH I|U QlULQJVOLYHW VRP lU PHVW NUlYDQGH HIWHUVRP GHW RIWD NUlYV HQ EUDQVFKDQSDVVQLQJ I|U DWW LQIRUPDWLRQHQ VND XSSOHYDV WLOOUlFNOLJW YlOSDNHWHUDG DY I|UH WDJDUQD

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

6OXWVDWVHU

œ'H UHJLRQDOD NXUVDQRUGQDUQD KDU O\FNDWV DWW UHNU\WHUD HOHYHU L GHQ PlQJG VRP NRPPLWWpQ SODQHUDW I|U

œ'H KXYXGVDNOLJD WMlQVWHPDQQDJUXSSHUQD KDU QnWWV L VWRU XWVWUlFNQLQJ 7MlQVWHPlQ VRP DUEHWDU PHG I\VLVN SODQHULQJ NXQGH GRFN KD QnWWV L QnJRW VW|UUH XWVWUlFNQLQJ

œ8QJHIlU KlOIWHQ DY GH NRPPXQDOD PLOM|QlPQGHUQDV OHGDP|WHU KDU JnWW Sn NXUV RP PLOM|EDONHQ 'HW NDQ DOOWVn ILQQDV XWU\PPH I|U IRUWVDWW XW ELOGQLQJ L |YHUVLNWVNXUVHQ ULNWDG WLOO SROLWLNHU

œ.RPPXQDOD I|UYDOWQLQJVFKHIHU RFK NRPPXQDOD YHUNVDPKHWVXW|YDUH KDU LQWH QnWWV L WLOOUlFNOLJ XWVWUlFNQLQJ bYHQ EODQG GHVVD JUXSSHU NDQ GHW ILQQDV XWU\PPH I|U IRUWVDWW XWELOGQLQJ L |YHUVLNWVNXUVHU

œ1lULQJVOLYHWV PHGYHUNDQ KDU YDULHUDW VWDUNW PHOODQ UHJLRQHUQD 'HQ IUlPVWD RUVDNHQ lU DWW GH UHJLRQDOD NRPPXQI|UEXQGHQ KDU ROLND SROLF\ QlU GHW JlOOHU DWW KD I|UHWDJHQ VRP PnOJUXSS

œgYHUVLNWVNXUVHQ KDGH EHK|YW DQSDVVDV WLOO QnJUD In Q\FNHOJUXSSHU SROLWLNHU I|UHWDJDUH RFK NRPPXQDOD I|UYDOWQLQJVFKHIHU

8SSOlJJQLQJ

'HQ SHGDJRJLVND LGpQ L 0LOM|EDONVXWELOGQLQJHQ lU DWW JH GHOWDJDUQD HQ KHOKHWVELOG DY PLOM|EDONHQ %nGH JUXQGNXUVHQ RP WUH NXUVGDJDU RFK |YHUVLNWVNXUVHQ RP HQ NXUVGDJ lU GlUI|U XSSE\JJGD I|U DWW I|UPHGOD KHOD PLOM|EDONHQ PHU HOOHU PLQGUH |YHUVLNWOLJW 0HG NDSLWHO RFK

SDUDJUDIHU RPIDWWDU PLOM|EDONHQ HQ P\FNHW VWRU PlQJG LQIRUPDWLRQ 7LOO GHWWD ILQQV LQIRUPDWLRQ IUnQ SURSRVLWLRQHQ RFK I|URUGQLQJDU VRP XQGHUODJ I|U NXUVPDWHULDOHW

*UXQGNXUV RFK |YHUVLNWVNXUV

6RP PHWRG I|U DWW NXQQD JH HQ ELOG DY KHOKHWHQ YDOGH PDQ DWW J|UD JUXQGNXUV RFK |YHUVLNWVNXUV VRP HWW DQWDO VLGRU 9DUMH VLGD EHVNULYHU HQ DVSHNW DY ODJHQ RFK ILQQV EnGH L WU\FNW IRUP RFK VDPPDQIDWWDG VRP 2+ ELOG 9DUMH VLGD LQOHGV PHG KlQYLVQLQJDU WLOO ODJWH[W PRWLYWH[W RFK I|URUGQLQJDU 'HQQD PHWRG DWW I|USDFND LQIRUPDWLRQHQ DQYlQGHV Sn

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

3%/ XWELOGQLQJHQ Sn WDOHW RFK KDGH WLGLJDUH DQYlQWV L XWELOGQLQJ DY DQQDQ ODJVWLIWQLQJ RFK L XWELOGQLQJ LQRP E\JJEUDQVFKHQ

*UXQGNXUVHQ RPIDWWDU FD VLGRU PHGDQ |YHUVLNWVNXUVHQ RPIDWWDU FD VLGRU /lUDUQDV XSSJLIW YDU DWW UHGRYLVD Vn PnQJD DY GHVVD VLGRU VRP P|MOLJW XQGHU NXUVHQV JnQJ 0HG HQ HIIHNWLY NXUVWLG RP VH[ WLP PDU SHU GDJ PRWVYDUDU DQWDOHW VLGRU HQ JHQRPJnQJ DY FD HQ VLGD YDU IHPWH PLQXW

8QGHU DUEHWHWV JnQJ PHG NRPSHQGLHUQD GURJ NRPPLWWpQ VOXWVDWVHQ DWW DOOD VLGRU LQWH VNXOOH KLQQDV PHG XQGHU NXUVHUQD , JUXQGNXUV NRPSHQGLHW lU GlUI|U YLVVD VLGRU PDUNHUDGH VRP PLQGUH YLNWLJD

1lU XQGHUYLVQLQJVPHWRGHQ UHGRYLVDGHV I|U GH EOLYDQGH UHJLRQDOD NXUVDQRUGQDUQD YDU GHW IOHUD VRP EOHY WYHNVDPPD 0DQ KDGH EODQG DQQDW LQYlQGQLQJDU PRW DWW JUXQGNXUV RFK |YHUVLNWVNXUV VNXOOH EDVHUDV Sn NRUYVWRSSQLQJ RFK PDQ |QVNDGH VLJ PRGHUQDUH SHGDJRJLN

, GH XWYlUGHULQJVVHPLQDULHU VRP KnOOLWV PHG OlUDUH RFK NXUVDQRUG QDUH NDQ PDQ LGDJ NRQVWDWHUD DWW IDUKnJRUQD RP XWELOGQLQJVPHWRGHQ YDU |YHUGULYQD /lUDUQD KnOOHU PHG RP DWW NRUYVWRSSQLQJ VRP PHWRG YDU Q|GYlQGLJ I|U DWW JH HQ KHOKHWVELOG DY PLOM|EDONHQ 0DQ PHQDU lYHQ DWW GHW WURWV DOOW YLVDGH VLJ ILQQDV HWW YLVVW XWU\PPH I|U GLVNXV VLRQHU lYHQ Sn JUXQGNXUVHQ RFK |YHUVLNWVNXUVHQ %XGVNDSHW IUnQ OlUDUQD NDQ VQDUDVW VDPPDQIDWWDV Vn DWW PDQ L VWRUW VHWW KDU SRVLWLYD HU IDUHQKHWHU DY XSSOlJJQLQJHQ

'HQ VWRUD PlQJGHQ LQIRUPDWLRQ VRP VNXOOH I|UPHGODV L JUXQGNXUVHQ KDU JMRUW DWW UHJLRQDOD NXUVDQRUGQDUH KDU H[SHULPHQWHUDW PHG ROLND SUDNWLVND DUUDQJHPDQJ *HQRP DWW GHOD XSS WUHGDJDUVNXUVHQ L WYn NXUV GDJDU I|OMW DY HQ NXUVGDJ YLG VHQDUH WLOOIlOOH KDU HOHYHUQD Sn JUXQG NXUVHQ KDIW GHW OlWWDUH DWW WD WLOO VLJ GHW VWRUD PDWHULDOHW 9LVVD NXUV DQRUGQDUH KDU lYHQ SU|YDW DWW GHOD XSS NXUVHQ L WUH VHSDUDWD NXUVGDJDU RFK PDQ DQVHU DWW HOHYHUQD Gn KDU KDIW \WWHUOLJDUH QnJRW ElWWUH I|UXWVlWW QLQJDU DWW WD WLOO VLJ JUXQGNXUVHQ

)|UGMXSQLQJVNXUVHU

, I|UGMXSQLQJVNXUVHUQD KDU PDQ DQYlQW HQ KHOW DQQDQ XSSOlJJQLQJ 0DQ KDU XWJnWW IUnQ DWW HOHYHUQD KDU JnWW JUXQGNXUVHQ RFK KDU HQ ELOG DY KHO KHWHQ 0HG GHQ NXQVNDSHQ VRP JUXQG KDU PDQ NXQQDW JHQRPI|UD I|U GMXSQLQJVNXUVHUQD Sn I|OMDQGH VlWW

œ.RUW I|UHOlVQLQJ I|U DWW UHSHWHUD HWW DYVQLWW DY JUXQGNXUVHQ

œ'LVNXVVLRQ L PLQGUH JUXSSHU RP SUDNWLVND H[HPSHO

œ5HGRYLVQLQJ DY GLVNXVVLRQHU

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

0HWRGHQ XSSUHSDV HWW DQWDO JnQJHU SHU NXUV 3n Vn VlWW DUEHWDU PDQ VLJ LJHQRP GH lPQHVRPUnGHQ VRP I|UGMXSQLQJVNXUVHQ VND EHKDQGOD

8SSOlJJQLQJHQ DY I|UGMXSQLQJVNXUVHUQD NDQ VlJDV YDUD UDND PRW VDWVHQ PRW XSSOlJJQLQJHQ DY JUXQGNXUVHQ 0DQ KDU GlUPHG NXQQDW NRPELQHUD JUXQGNXUVHQV NRUYVWRSSQLQJ L K|JW WHPSR PHG I|UGMXS QLQJVNXUVHUQDV UHSHWLWLRQ RFK GLVNXVVLRQHU PHOODQ NXUVGHOWDJDUQD ED VHUDW Sn I|UXWEHVWlPGD H[HPSHO PHQ RFNVn Sn GHOWDJDUQDV HJHQ HU IDUHQKHW

6RP WLGLJDUH IUDPJnWW InU IOHUWDOHW I|UGMXSQLQJVNXUVHU EUD EHW\J DY HOHYHUQD L GHQ HQNlWXQGHUV|NQLQJ VRP KDU JHQRPI|UWV 'lU IUDPJnU GRFN DWW GHW IUDPI|U DOOW lU PLOM|FKHIHUQD L NRPPXQHUQD VRP VlUVNLOW KDU XSSIDWWDW |YQLQJVH[HPSOHQ VRP EUD 'HW KDGH VDQQROLNW YDULW YlUGH IXOOW RP GHW IXQQLWV |YQLQJVH[HPSHO VRP W\GOLJDUH XWJLFN IUnQ OlQV VW\UHOVHUQDV RFK FHQWUDOD VWDWOLJD P\QGLJKHWHUV SHUVSHNWLY

bYHQ OlUDUQD JHU L XWYlUGHULQJVVHPLQDULHUQD EUD EHW\J nW XSSOlJJ QLQJHQ DY I|UGMXSQLQJVNXUVHUQD 0DQ PHQDU GRFN DWW GH H[HPSHO VRP ILQQV L OlUDUKDQGOHGQLQJDUQD VNXOOH NXQQD YDULW ElWWUH JHQRPDUEHWDGH 0DQ KDU InWW OlJJD QHG HQ KHO GHO HJHW DUEHWH I|U DWW NXQQD DQYlQGD H[HPSOHQ L NXUVHUQD

(QKHWOLJKHW RFK VDPV\Q

(WW DY NRPPLWWpQV PnO I|U XWELOGQLQJHQ KDU YDULW DWW JH EHU|UGD DNW|UHU HQ JHPHQVDP UDP I|U WLOOlPSQLQJHQ DY PLOM|EDONHQ JHQRP DWW DQRUGQD HQ VDPPDQKnOOHQ XWELOGQLQJ )UnJDQ RP NXUVHUQD KDU JHQRPI|UWV OLN IRUPLJW |YHU ODQGHW KDU GLVNXWHUDWV Sn XWYlUGHULQJVVHPLQDULHUQD PHG OlUDUH RFK NXUVDQRUGQDUH 0DQ lU L K|J JUDG |YHUHQV RP DWW EXGVNDSHW L JUXQGNXUVHQ KDU I|UPHGODWV Sn HWW HQKHWOLJW VlWW 2UVDNHQ WLOO GHWWD lU IUlPVW DWW OlUDUQD KDU YDULW Vn VW\UGD DY NXUVHQV XSSOlJJQLQJ $WW NXUV NRPSHQGLHU RFK 2+ ELOGHU GHVVXWRP XSSIDWWDV VRP P\FNHW EUD KDU JMRUW DWW PDQ KDIW EHJUlQVDW EHKRY DWW NRPSOHWWHUD PHG HJHW PDWHULDO /lUDUQD KDU GlUHPRW JMRUW XUYDO DY YLOND VLGRU PDQ JnWW LJHQRP Sn JUXQGNXUVHQ I|U DWW KLQQD PHG PDWHULDOHW Sn WUH GDJDU 6OXWVDWVHQ IUnQ XWYlUGHULQJVVHPLQDULHUQD lU GRFN DWW PDQ KDU YDOW ERUW VLGRU L I|UKnO ODQGHYLV EHJUlQVDG RPIDWWQLQJ

, I|UGMXSQLQJVNXUVHUQD KDU GHW IXQQLWV VW|UUH XWU\PPH I|U YDULD WLRQHU PHOODQ KXU OlUDUODJHQ EHKDQGODW PDWHULDOHW 'HW VWRUD XWU\PPHW I|U GLVNXVVLRQHU PHGI|U lYHQ DWW GHOWDJDUQDV HJQD HUIDUHQKHWHU SnYHUNDU NXUVHUQDV LQQHKnOO bYHQ RP OlUDUQD DQVHWW DWW H[HPSOHQ KDGH NXQQDW

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

YDUD ElWWUH JHQRPDUEHWDGH DQVHU PDQ DWW GH KDU YDULW UHOHYDQWD RFK LQWUHVVDQWD 0DQ KDU GlUI|U L VWRU XWVWUlFNQLQJ XWJnWW IUnQ GHP

(Q DQQDQ DVSHNW DY NRPPLWWpQV PnO RP HQ VDPPDQKnOOHQ XWELOG QLQJ lU RP XWELOGQLQJHQ KDU ELGUDJLW WLOO HQ JHPHQVDP V\Q Sn PLOM| EDONHQ RFK GHVV WLOOlPSQLQJ , HQNlWXQGHUV|NQLQJHQ ULNWDG WLOO HOHYHU KDU GHWWD LQJnWW VRP HQ IUnJD /lQVVW\UHOVHUQD FKHIHU lU PHVW WLOOIUHGV JHQRP DWW SURFHQW DQVHU DWW JHQRPJnQJQD NXUVHU RP PLOM|EDONHQ KDU XQGHUOlWWDW I|U GHQ HJQD HQKHW DWW XWYHFNOD HQ VDPV\Q %ODQG PLOM| FKHIHU L NRPPXQHUQD HUK|OOV GHWWD VYDU IUnQ SURFHQW %ODQG PLOM| QlPQGHUQDV RUGI|UDQGH JlOOGH IUnJDQ RP XWELOGQLQJHQ KDGH ELGUDJLW WLOO DWW VNDSD HQ VDPV\Q KRV PLOM|QlPQGHQV OHGDP|WHU +lOIWHQ DY PLOM| QlPQGHUQDV RUGI|UDQGH VYDUDGH DWW NXUVHUQD RP PLOM|EDONHQ KDGH ELGUDJLW

$QSDVVQLQJ DY RULHQWHULQJVNXUVHQ

2ULHQWHULQJVNXUVHQ lU GHQ NXUV VRP KDU XSSYLVDW VW|UVW YDULDWLRQHU L XWI|UDQGHW 'HWWD lU VDPWLGLJW GHQ NXUV VRP KDU ORFNDW IOHVW GHOWDJDUH 2UVDNHQ WLOO YDULDWLRQHQ lU DWW HOHYHUQD KDU KDIW Vn ROLND XWJnQJVSXQNWHU /lUDUQD KDU GlUI|U I|UV|NW DQSDVVD XSSOlJJQLQJHQ HIWHU YLOND HOHYHU VRP NRPPLW Sn GHQ DNWXHOOD NXUVHQ )UDPI|U DOOW KDU OlUDUQD XSSOHYW VYnULJKHWHU L DWW DQSDVVD NXUVHUQD HIWHU SROLWLNHUQDV I|UXWVlWWQLQJDU 'HW KDGH YDULW HWW VW|G I|U OlUDUQD RP GHW IXQQLWV ROLND OlUDUKDQGOHGQLQJDU I|U GH WUH VWRUD PnOJUXSSHUQD SROLWLNHU WMlQVWHPlQ RFK I|UHWDJDUH

7XURUGQLQJ

, XSSOlJJQLQJHQ DY 0LOM|EDONVXWELOGQLQJHQ KDU PDQ lYHQ WDJLW VWlOOQLQJ WLOO L YLONHQ WXURUGQLQJ GH ROLND NXUVHUQD VND JHQRPI|UDV /lUDUH RFK NXUVDQRUGQDUH KDU DQVHWW DWW WXURUGQLQJHQ L KXYXGVDN KDU YDULW GHQ UlWWD , HWW DYVHHQGH KDU PDQ GRFN KDIW SUREOHP +RV IOHUD UHJLRQDOD NXUV DQRUGQDUH KDU PDQ KnOOLW JUXQGNXUVHUQD I|UH RULHQWHULQJVNXUVHUQD 'HWWD KDU LQWH LQQHEXULW QnJRW SUREOHP I|U GHQ PDMRULWHW HOHYHU VRP KDU YDOW UlWW NXUV )|U GH HOHYHU VRP XQGHU RULHQWHULQJVNXUVHQ LQVnJ DWW GH KDGH EHK|YW Jn JUXQGNXUVHQ EOHY GHW GlUHPRW HWW SUREOHP HIWHUVRP GHW LQWH IDQQV QnJUD JUXQGNXUVHU NYDU DWW Jn , HIWHUKDQG NDQ NRQVWDWHUDV DWW OlPSOLJ WXURUGQLQJ KDGH YDULW DWW LQOHGD PHG HQ JUXQGNXUV I|U DWW OlUDUQD VND NlQQD Sn KHOD PDWHULDOHW 'lUHIWHU YRUH GHW OlPSOLJW DWW YDUYD PHG JUXQG RFK |YHUVLNWVNXUVHU

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

.XUVNRPSHQGLHW I|U |YHUVLNWVNXUVHQ NRP IUnQ WU\FNHW VHQDUH lQ NRPSHQGLHW I|U JUXQGNXUVHQ YLONHW NDQ KD ELGUDJLW WLOO WXURUGQLQJHQ KRV YLVVD UHJLRQDOD NXUVDQRUGQDUH .RPPLWWpQ KDGH JLYLW |YHUVLNWV NXUVHQ OlJUH SULRULWHW lYHQ JHQRP DWW GHW LQWH IDQQV QnJRQ OlUDUNXUV VSHFLILNW I|U |YHUVLNWVNXUVHQ )UnJDQ RP WXURUGQLQJHQ PHOODQ JUXQG NXUV RFK RULQWHULQJVNXUV KDU LQWH NRPPXQLFHUDWV PHOODQ NRPPLWWpQ RFK GH UHJLRQDOD NXUVDQRUGQDUQD 8WYlUGHULQJHQV VOXWVDWVHQ EOLU DWW |YHU VLNWVNXUVHQ NRP QnJRW Sn PHOODQKDQG KRV NRPPLWWpQ RFK DWW GHWWD NDQ KD ELGUDJLW WLOO DWW PDQ LQWH XWWU\FNOLJHQ LQIRUPHUDGH RP OlPSOLJ WXURUGQLQJ WLOO GH UHJLRQDOD NXUVDQRUGQDUQD

6OXWVDWVHU

œ.RPELQDWLRQHQ DY NRUYVWRSSQLQJ L JUXQGNXUVHQ RFK H[HPSHO PHG GLVNXVVLRQHU L I|UGMXSQLQJVNXUVHUQD KDU WLOOVDPPDQV ELOGDW HQ YlO IXQJHUDQGH SHGDJRJLVN XSSOlJJQLQJ I|U DWW I|UPHGOD HWW P\FNHW VWRUW PDWHULDO

œgYQLQJVH[HPSOHQ L I|UGMXSQLQJVNXUVHUQD KDGH EHK|YW YDUD PHU JHQRPDUEHWDGH

œ(Q XSSGHOQLQJ DY JUXQGNXUVHQV L NXUVGDJDU Sn HOOHU

PHGI|U VW|UUH P|MOLJKHWHU I|U HOHYHUQD DWW WD WLOO VLJ PDWHULDOHW

œ.YDOLWHWHQ L NXUVPDWHULDO 2+ ELOGHU |YQLQJVH[HPSHO RFK OlUDUKDQG OHGQLQJDU KDU JMRUW DWW OlUDUQD KDU I|OMW XSSOlJJQLQJHQ L EHW\GDQGH JUDG 0nOHW RP HQKHWOLJKHW L NXQVNDSVI|UPHGOLQJHQ KDU GlUPHG XSS QnWWV L VWRU XWVWUlFNQLQJ

œ8WELOGQLQJHQ KDU SnWDJOLJW ELGUDJLW WLOO DWW PHGDUEHWDUQD Sn NRPPXQHU RFK OlQVVW\UHOHU NXQQDW XWYHFNOD HQ JHPHQVDP V\Q Sn PLOM|EDONHQ RFK GHVV WLOOlPSQLQJ

œgYHUVLNWVNXUVHUQD KDGH NXQQDW DQSDVVDV WLOO ROLND PnOJUXSSHU JHQRP DWW NRPPLWWpQ WDJLW IUDP OlUDUKDQGOHGQLQJDU I|U ROLND PnOJUXSSHU

œ.RPPLWWpQ KDGH EHK|YW SRlQJWHUD I|U GH UHJLRQDOD NXUVDQRUGQDUQD DWW |YHUVLNWVNXUVHU RFK JUXQGNXUVHU OlPSOLJHQ YDUYDV RFK DWW PDQ LQOHGHU PHG HQ JUXQGNXUV

.XUVPDWHULDO

(Q DY NRPPLWWpQV KXYXGXSSJLIWHU KDU YDULW DWW VH WLOO DWW NXUVPDWHULDOHW WRJV IUDP (IWHU I|UHELOG IUnQ 3%/ XWELOGQLQJHQ VNDSDGH PDQ DUEHWV JUXSSHU I|U NXUVNRPSHQGLHUQD $UEHWVJUXSSHUQD EHVWRG DY HQ RUG

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

I|UDQGH HQ VNULYDUH VRP XWI|UGH GHW KXYXGVDNOLJD VNULYDUEHWHW VDPW HQ H[SHUWJUXSS .RPPLWWpQ DJHUDGH H[SHUWJUXSS I|U JUXQGNXUVHQ RFK |YHUVLNWVNXUVHQ

5HNU\WHULQJ

5HNU\WHULQJHQ WLOO DUEHWVJUXSSHUQD JMRUGHV Sn ROLND VlWW I|U DWW WLOOIUHGV VWlOOD WYn V\IWHQ 6NULYDUQD KDQGSORFNDGHV DY NRPPLWWpQ 7DQNHQ YDU DWW KLWWD SHUVRQHU VRP NXQGH VNDSD HIIHNWLYLWHW L VNULYDUEHWHW 2UGI|U DQGHQD RFK H[SHUWHUQD L DUEHWVJUXSSHUQD UHNU\WHUDGHV LVWlOOHW I|U DWW JH VWDWOLJD P\QGLJKHWHU RFK LQWUHVVHRUJDQLVDWLRQHU P|MOLJKHW DWW EOL UHSUH VHQWHUDGH L DUEHWHW PHG NXUVPDWHULDOHW I|U DWW SnYHUND LQULNWQLQJ RFK IRUPXOHULQJDU .RPPLWWpQ JDY EHU|UGD P\QGLJKHWHU RFK LQWUHVVH RUJDQLVDWLRQHU IULKHW DWW VMlOYD XWVH SHUVRQHU

([SHUWHU NRP DWW GHOWD IUnQ I|OMDQGH YHUNVDPKHWHU

œ0LOM|GHSDUWHPHQWHW

œ1DWXUYnUGVYHUNHW

œ.HPLNDOLHLQVSHNWLRQHQ

œ6RFLDOVW\UHOVHQ

œ%RYHUNHW

œ5LNVDQWLNYDULHlPEHWHW

œ-RUGEUXNVYHUNHW

œ/DQPlWHULYHUNHW

œ9lJYHUNHW

œ'RPVWROVYHUNHW

œ5LNVnNODJDUHQ

œ3ROLVK|JVNRODQ

œ/lQVVW\UHOVHUQD L +DOODQGV .URQREHUJV RFK *lYOHERUJV OlQ

œ0LOM|GRPVWRODUQD L 6WRFNKROP 9lQHUVERUJ RFK 9l[M|

œ6YHQVND .RPPXQI|UEXQGHW

œ+XGGLQJH NRPPXQ RFK *lYOH NRPPXQ

œ,QGXVWULI|UEXQGHW

0LOM|RUJDQLVDWLRQHUQD YLVDGH LQWH QnJRW LQWUHVVH DWW GHOWD L H[SHUW

JUXSSHUQD

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

$UEHWVJnQJ

$Y QDWXUOLJD VNlO SUlJODV DUEHWHW PHG NRPSHQGLHU RP HQ Q\ ODJ DY DWW In DY GH PHGYHUNDQGH EHKlUVNDU ODJHQ ,QJHQ DY GH SHUVRQHU VRP KDGH GHOWDJLW L ODJVWLIWQLQJVDUEHWHW NRP DWW PHGYHUND L DUEHWHW PHG NXUV PDWHULDOHW $UEHWVJUXSSHUQD ILFN OlUD VLJ ODJHQ VDPWLGLJW VRP GH WRJ IUDP PDWHULDOHW

$YVDNQDGHQ DY I|UNXQVNDSHU RP ODJHQ ILFN VW|UVW NRQVHNYHQVHU I|U GH WUH I|UGMXSQLQJVNXUVHUQD 0LOM| RFK KlOVD 1DWXU RFK NXOWXU RFK 0LOM|EDONHQ RFK GHQ I\VLVND SODQHULQJHQ 2UVDNHQ YDU DWW PDQ VNXOOH IUDPVWlOOD HWW NXUVPDWHULDO RP HQ EHJUlQVDG GHO RP PLOM|EDONHQ GlU PDQ lQQX LQWH EHKlUVNDGH KHOKHWHQ

$UEHWHW PHG JUXQGNXUVHQ SnE|UMDGHV L PDUV RFK WH[WHQ JRG NlQGHV DY NRPPLWWpQ L PLWWHQ DY DXJXVWL 7U\FNQLQJHQ VNHGGH L VHS WHPEHU YDUYLG GHQ I|UVWD OlUDUXWELOGQLQJHQ JHQRPI|UGHV 1lU JUXQG NXUVHQ IDQQV I|U OlVQLQJ LQVnJ |YULJD DUEHWVJUXSSHU DWW I|UGMXSQLQJV NXUVHUQD L DOOW I|U VWRUD GHODU KDGH OLNQDQGH PDWHULDO VRP L JUXQGNXUVHQ )|UGMXSQLQJVNXUVHUQD ULVNHUDGH DOOWVn DWW LQWH EOL WLOOUlFNOLJW I|UGMXSDQGH 6DPWLGLJW NXQGH NRPPLWWpQ NRQVWDWHUD DWW DUEHWV JUXSSHUQD I|U I|UGMXSQLQJVNXUVHUQD KDGH WDJLW IUDP NRPSHQGLHWH[WHU VRP LQWH I|OMGH GHQ XSSOlJJQLQJ PHG VLGRU VRP YDULW DYVLNWHQ $UEHWVJUXSSHUQD KDGH LVWlOOHW WDJLW IUDP WH[WHU VRP PHU OLNQDGH HQ EODQGQLQJ DY WUDGLWLRQHOO NXUVOLWWHUDWXU RFK XSSVODJVE|FNHU

.RPPLWWpQ JDY QX DUEHWVJUXSSHUQD L XSSJLIW DWW NRPPD IUDP WLOO KXU XSSOlJJQLQJHQ Sn I|UGMXSQLQJVNXUVHUQD VNXOOH J|UDV RFK KXU NXUVNRP SHQGLHUQD VNXOOH NXQQD DQYlQGDV 0DQ EHVWlPGH VLJ VOXWOLJHQ I|U DWW J|UD I|UGMXSQLQJVNXUVHUQD XWJnHQGH IUnQ SUDNWLVND H[HPSHO 6RP JUXQG I|U GHWWD VNDSDGH PDQ HQ ILNWLY NRPPXQ PHG HWW DQWDO YDQOLJW I|UHNRPPDQGH YHUNVDPKHWVXW|YDUH VRP PDQ NXQGH XWJn IUnQ L H[HPSOHQ )|UVW L QRYHP EHU MDQXDUL NRUW WLG LQQDQ PDWHULDOHW VNXOOH Jn L WU\FN KDGH JUXSSHUQD KXQQLW UHDOLVHUD GHQQD Q\D LQULNWQLQJ JHQRP DWW WD IUDP OlUDUKDQGOHGQLQJDU GlU EO D GH ROLND H[HPSOHQ EHVNUHYV

)|U I|UGMXSQLQJVNXUVHQ 0LOM|EDONHQ RFK GHQ I\VLVND SODQHULQJHQ EOHY DUEHWHW PHG NXUVPDWHULDOHW VlUVNLOW NUlYDQGH 1lU DYVDWWD UHVXUVHU YDU I|UEUXNDGH YDU NXUVNRPSHQGLHW LQWH IlUGLJVNULYHW 'HSDUWHPHQWHW nWRJ VLJ DWW DWW VOXWI|UD DUEHWHW (Q VLVWD NUDIWLJ RPUHGLJHULQJ JMRUGHV VOXWOLJHQ DY GHQ EOLYDQGH NXUVOHGDUHQ Sn OlUDUNXUVHQ NRUW WLG I|UH WU\FN

0HWRGHQ PHG VLGRU KDU EHVNULYLWV L XWYlUGHULQJHQV NDSLWOHO RP 8SSOlJJQLQJ

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

QLQJHQ 6OXWYHUVLRQHQ DY OlUDUKDQGOHGQLQJHQ EOHY NODU I|UVW HIWHU OlUDU NXUVHUQD GYV L VHSWHPEHU

'HQ IMlUGH I|UGMXSQLQJVNXUVHQ $WW DQYlQGD PLOM|EDONHQ WRJV IUDP EHW\GOLJW VHQDUH lQ GH |YULJD $UEHWHW JMRUGHV L KXYXGVDN XQGHU

6RP VNULYDUH KDGH PDQ VDPPD SHUVRQ VRP YDULW VNULYDUH Sn JUXQGNXUVHQ GYV NXQVNDSHQ RP PLOM|EDONHQ IDQQV UHGDQ IUnQ E|UMDQ L DUEHWHW PHG GHWWD NRPSHQGLXP 0DQ YDOGH DWW LQWH DUEHWD PHG |YQLQJV H[HPSHO VRP L |YULJD I|UGMXSQLQJVNXUVHU XWDQ LVWlOOHW DWW KD GLVNXVVLRQHU PHG KHOD HOHYJUXSSHQ 7DQNHQ lU DWW KLQQD PHG PHU PDWHULDO Sn NXUVHQ

8W|YHU JUXQGNXUV RFK I|UGMXSQLQJVNXUVHU KDU NRPPLWWpQ lYHQ WDJLW IUDP HWW NXUVNRPSHQGLXP I|U |YHUVLNWVNXUVHQ 'HW VNXOOH LQWH LQQHKnOOD QnJRW DQQDW lQ YDG VRP IDQQV L JUXQGNXUVHQ YDUI|U VNULYDUHQ I|U JUXQGNXUVHQ GlUI|U L XSSGUDJ DWW UHGLJHUD JUXQGNXUVNRPSHQGLHW IUnQ HQ WUHGDJDUVNXUV WLOO HQ HQGDJDUVNXUV

(OHYHUQDV EHG|PQLQJ

, XWYlUGHULQJHQ lU GHW LQWUHVVDQW DWW MlPI|UD GHVVD GHOYLV SOnJVDPPD I|GVORYnQGRU PHG KXU HOHYHUQD RFK OlUDUQD KDU XSSIDWWDW GHW VOXWOLJD NXUVPDWHULDOHW , XWYlUGHULQJHQV HQNlW WLOO HOHYHUQD JHU PDQ JHQHUHOOW P\FNHW JRWW RPG|PH nW NRPSHQGLHUQD 6lUVNLOW LQWUHVVDQW lU GHW DWW MlPI|UD PHG VWXGLHPDWHULDO IUnQ DQGUD NXUVDQRUGQDUH NRQVXOWHU P P 'H PLOM|FKHIHU PLOM|VDPRUGQDUH Sn I|UHWDJ VRP JnWW Sn NXUV LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ VYDUDU L GXEEHOW Vn K|J RPIDWWQLQJ DWW NRPSHQGLHUQD YDULW EUD MlPI|UW PHG GH VRP JnWW Sn NXUV KRV DQGUD NXUVDQRUGQDUH

$QYlQGQLQJHQ DY NRPSHQGLHUQD HIWHU NXUVHUQD VlJHU GHVVXWRP HQ GHO RP NRPSHQGLHUQDV NYDOLWHW )|U JUXQGNXUVHQ VYDUDU GU\JW KlOIWHQ DY NRPPXQHUQDV PLOM|FKHIHU RFK EHU|UGD FKHIHU Sn OlQVVW\UHOVHUQD DWW GH DQYlQGHU NRPSHQGLHW YDUMH GDJ HOOHU YDUMH YHFND L GHW O|SDQGH DUEHWHW /LND K|J lU DQYlQGQLQJHQ DY NRPSHQGLHW RP 0LOM| RFK KlOVD EODQG NRPPXQHUQDV PLOM|FKHIHU %ODQG EHU|UGD FKHIHU Sn OlQVVW\UHOVHUQD lU GHW HQ WUHGMHGHO VRP YDUMH GDJ HOOHU YDUMH YHFND DQYlQGHU NRPSHQ GLHUQD WLOO NXUVHUQD 0LOM| RFK KlOVD 1DWXU RFK NXOWXU UHVSHNWLYH 0LOM| EDONHQ RFK GHQ I\VLVND SODQHULQJHQ

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

)|UVlOMQLQJ

(WW DQQDW VlWW DWW LOOXVWUHUD IUDPJnQJHQ PHG NRPSHQGLHUQD lU YLD I|U VlOMQLQJVVLIIURUQD *URYW UlNQDW NDQ PDQ VlJD DWW GHW KDU VnOWV GXEEHOW Vn PnQJD NXUVNRPSHQGLHU VRP GHW KDU IXQQLWV HOHYHU Sn GH UHJLRQDOW DQRUGQDGH NXUVHUQD 1lU GHW JlOOHU NRPSHQGLHUQD I|U |YHUVLNWVNXUVHQ lU GHW EO D HIWHUIUnJDQ IUnQ I|UHWDJ RFK NRQVXOWHU VRP YDULW RPIDWWDQGH

.RPSHQGLHW I|U JUXQGNXUVHQ KDU N|SWV VHSDUDW L I|UKnOODQGHYLV VWRU XWVWUlFNQLQJ DY NRPPXQHU RFK VWDWOLJD P\QGLJKHWHU , |YULJW KDU GH UHJLRQDOD XWELOGQLQJVDQRUGQDUQD VYDUDW I|U HQ EHW\GDQGH GHO DY GHQ RYlQWDW VWRUD HIWHUIUnJDQ Sn NRPSHQGLHUQD

9LG VLGDQ DY NXUVNRPSHQGLHUQD KDU NRPPLWWpQ lYHQ WDJLW IUDP EL ODJRU WLOO NXUVNRPSHQGLHUQD 'HW JlOOHU ODJWH[WHQ I|URUGQLQJDUQD KDQGOlJJQLQJVVFKHPDQ RFK P\QGLJKHWHUQDV DQVYDU /DJWH[WHQ KDU VnOWV L XQJHIlU OLND PnQJD H[HPSODU VRP GHW KDU IXQQLWV NXUVGHOWDJDUH

.RPSHQGLHUQD YDU SULVVDWWD Vn DWW I|UVlOMQLQJVLQWlNWHUQD VNXOOH PRW VYDUD NRVWQDGHUQD I|U WU\FN RFK GLVWULEXWLRQ 'HQ RYlQWDW RPIDWWDQGH I|UVlOMQLQJHQ KDU JMRUW DWW NRPPLWWpQ InWW LQWlNWHU Sn FD 0NU YLONHW JHQHUHUDW HWW QHWWR|YHUVNRWW IUnQ I|UVlOMQLQJHQ Sn FD 0NU

(QKHWOLJKHW

bYHQ L XWYlUGHULQJVVHPLQDULHUQD PHG OlUDUH RFK NXUVDQRUGQDUH JHV

NXUVNRPSHQGLHUQD HWW P\FNHW EUD EHW\J 7DFN YDUH GHWWD KDU NRPPLWWpQ

O\FNDWV XSSQn VLWW PnO PHG VDPPDQKnOOHQ XWELOGQLQJ |YHU KHOD ODQGHW

HIWHUVRP OlUDUQD JlUQD DUEHWDW PHG NXUVPDWHULDOHW (QGD XQGDQWDJHW

XWJ|U NRPSHQGLHW RFK OlUDUKDQGOHGQLQJHQ L 0LOM|EDONHQ RFK GHQ

I\VLVND SODQHULQJHQ VRP HQOLJW OlUDUQD LQWH KDU JLYLW GHP WLOOUlFNOLJW

VW|G L XQGHUYLVQLQJHQ /lUDUQD lU lYHQ Q|MGD PHG XSSOlJJQLQJHQ L I|U

GMXSQLQJVNXUVHUQD GlU PDQ DUEHWDU PHG H[HPSHO 0DQ |QVNDU VLJ GRFN

PHU JHQRPDUEHWDGH H[HPSHO

7LGVEULVW RFK VW\UQLQJ

/lUDUQDV RFK HOHYHUQDV HUIDUHQKHWHU DY NXUVNRPSHQGLHUQD NDQ VDP PDQIDWWDV PHG DWW GH L KXYXGVDN lU P\FNHW SRVLWLYD 'H GHODU DY NXUV NRPSHQGLHUQD RFK OlUDUKDQGOHGQLQJDUQD VRP OlUDUQD LQWH lU KHOW Q|MGD PHG YLVDU VLJ YDUD MXVW GH GHODU GlU NRPPLWWpQV DUEHWVJUXSSHU KDU KDIW VW|UVW SUREOHP PHG DWW WD IUDP PDWHULDOHW 3UREOHPHQ KDU L EHW\GDQGH JUDG VLWW XUVSUXQJ L GHQ EHJUlQVDGH WLG NRPPLWWpQ KDU KDIW WLOO VLWW I|U

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

IRJDQGH 7LOO H[HPSHO JlOOHU GHWWD VYnULJKHWHUQD DWW In DUEHWHW PHG GH WUH I|UVWD I|UGMXSQLQJVNXUVHUQD DWW IXQJHUD HIIHNWLYW 'HW KDGH VDQQROLNW YDULW ElWWUH RP GHW DUEHWHW SnE|UMDWV I|UVW QlU JUXQGNXUVNRPSHQGLHW YDU NODUW RFK DUEHWVJUXSSHUQD I|U I|UGMXSQLQJVNXUVHUQD VMlOYD KDGH NXQQDW GHOWD L HQ JUXQGNXUV 7LGVEULVWHQ L SURMHNWHW JDY GRFN LQWH XWU\PPH I|U HQ VnGDQ SODQHULQJ

7LGVEULVWHQ OLJJHU VDQQROLNW lYHQ EDNRP DWW |YHUVLNWVNXUVHQ KDU EH KDQGODWV QnJRW VW\YPRGHUOLJW 6RP IUDPJnWW L WLGLJDUH NDSLWHO L XWYlUGH ULQJHQ KDU OlUDUH RFK NXUVDQRUGQDUH HIWHUIUnJDW |YHUVLNWVNXUVHU VRP lU VlUVNLOW LQULNWDGH Sn SROLWLNHU RFK I|UHWDJDUH 'HWWD KDGH P|MOLJHQ NXQ QDW O|VDV PHG HQ OlUDUKDQGOHGQLQJ VRP EHVNUHY OlPSOLJD XUYDO DYVLGRU XU |YHUVLNWVNRPSHQGLHW HOOHU DQGUD NRPSHQGLHU 1nJRQ VlUVNLOG OlUDUNXUV L DWW KnOOD |YHUVLNWVNXUVHU KDU KHOOHU LQWH KnOOLWV 3n VnGDQD OlUDUNXUVHU KDGH PDQ WLOOVDPPDQV PHG OlUDUQD NXQQDW DUEHWD VLJ IUDP WLOO KXU DQSDVVDGH NXUVHU I|U ROLND PnOJUXSSHU VNXOOH NXQQDW XWIRUPDV

6OXWUHVXOWDWHW DY NRPPLWWpQV DUEHWH EOHY LQWH HQEDUW NRPSHQGLHU VRP L KXYXGVDN InWW P\FNHW EUD EHW\J 8WDQ DWW GHW HJHQWOLJHQ YDU DY VLNWHQ NRP PDQ DWW XWYHFNOD HQ PHWRG I|U KXU I|UGMXSQLQJVNXUVHU NDQ OlJJDV XSS L RPIDWWDQGH XWELOGQLQJVVDWVQLQJDU .RPELQDWLRQHQ DYNURYVWRSSQLQJ L JUXQGNXUVHQ RFK H[HPSHO PHG GLVNXVVLRQHU L I|U GMXSQLQJVNXUVHUQD JHU VDPPDQWDJHW LQWU\FNHW DY HQ EDODQVHUDG O|VQLQJ Sn GHW VYnUD SHGDJRJLVND SUREOHPHW DWW VQDEEW XWELOGD RP HWW P\FNHW RPIDWWDQGH PDWHULDO

8W|YHU WLGVEULVWHQ VRP RUVDN WLOO SUREOHPHQ NDQ PDQ NRQVWDWHUD DWW NRPPLWWpQ L HQGDVW EHJUlQVDG RPIDWWQLQJ VW\UGH HOOHU JDY VW|G WLOO I|U GMXSQLQJVNXUVHUQDV DUEHWVJUXSSHU $YVLNWHQ PHG GHWWD I|UKnOOQLQJVVlWW YDU DWW JH DUEHWVJUXSSHUQD IULKHW Vn DWW GH ROLND P\QGLJKHWHU VRP GHOWRJ PHG H[SHUWHU YHUNOLJHQ VNXOOH EOL GHODNWLJD L DUEHWHW RFK L VOXWUHVXOWDWHW

(Q SRVLWLY HIIHNW DY GHWWD I|UKnOOQLQJVVlWW EOHY DWW PDQ NRP DWW XW YHFNOD HQ Q\ PHWRG I|U XSSOlJJQLQJ DY I|UGMXSQLQJVNXUVHUQD lYHQ RP PDWHULDOHW LQWH KDQQ EOL KHOW JHQRPDUEHWDW (Q QHJDWLY HIIHNW EOHY DWW DUEHWHW PHG GHQ NXUV VRP XWJLFN IUnQ GHW PHVW NRPSOH[D PDWHULDOHW 0LOM|EDONHQ RFK GHQ I\VLVND SODQHULQJHQ LQWH ILFN WLOOUlFNOLJW PHG VW\UQLQJ L WLG 6OXWVDWVHQ EOLU DWW NRPPLWWpQ WUROLJHQ WLGLJDUH KDGH NXQ QDW OlJJD RP XSSOlJJQLQJHQ DY I|UGMXSQLQJVNXUVHUQD RFK WLGLJDUH VW\UW DUEHWHW PHG 0LOM|EDONHQ RFK GHQ I\VLVND SODQHULQJHQ RP PDQ KDGH VWlOOW W\GOLJDUH NUDY Sn DYUDSSRUWHULQJ DY DUEHWVJUXSSHUQDV LQULNWQLQJ RFK UHVXOWDW

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

6OXWVDWVHU

œ.XUVNRPSHQGLHUQD InU JHQHUHOOW P\FNHW JRWW RPG|PH DY OlUDUH RFK HOHYHU

œ0LOM|FKHIHU L I|UHWDJ JHU 0LOM|EDONVXWELOGQLQJHQV NXUVPDWHULDO EHW\G OLJW ElWWUH EHW\J lQ NXUVPDWHULDO KRV DQGUD NXUVDUUDQJ|UHU

œ)UDPJnQJHQ PHG NXUVNRPSHQGLHUQD IUDPJnU DY DWW GH KDU VnOWV L XQJHIlU GXEEHOW Vn PnQJD H[HPSODU VRP GHW KDU IXQQLWV NXUVGHOWDJDUH

œ.XUVPDWHULDOHW WLOO NXUVHQ 0LOM|EDONHQ RFK GHQ I\VLVND SODQHULQJHQ KDU LQWH InWW KHOW IXOOJRWW RPG|PH 'HW NRPSOH[D PDWHULDOHW WLGVEULVW RFK RWLOOUlFNOLJ VW\UQLQJ IUnQ NRPPLWWpQ lU KXYXGI|UNODULQJDUQD WLOO GHWWD

œgYQLQJVH[HPSOHQ KDU InWW EUD EHW\J PHQ OlUDUQD KDGH |QVNDW DWW GH YRUH PHU JHQRPDUEHWDGH 7LGVEULVW RFK RWLOOUlFNOLJ VW\UQLQJ IUnQ NRPPLWWpQ KDU YDULW KXYXGI|UNODULQJDUQD WLOO GHWWD

œ, DYVDNQDG DY VW\UQLQJ IUnQ NRPPLWWpQ WRJ LQWH GH UHSUHVHQWDWLYW VDPPDQVDWWD DUEHWVJUXSSHUQD GHW IXOOD DQVYDUHW I|U WLGKnOOQLQJ LQULNW QLQJ RFK NYDOLWHW

œ$UEHWVJUXSSHU VRP VNULYHU NXUVPDWHULDO WLOO I|UGMXSQLQJVNXUVHU E|U KHOVW KD WLG DWW I|UVW IRUWELOGD VLJ RP KHOKHWHQ L ODJHQ

œgYHUVLNWVNXUVHQ KDU LQWH lJQDWV QnJRQ VlUVNLOG XSSPlUNVDPKHW DY NRPPLWWpQ WURWV DWW GHQ VNXOOH DQYlQGDV I|U GHW VW|UVWD DQWDOHW HOHYHU

5HJLRQDOD NXUVDQRUGQDUH

)|U GHW SUDNWLVND JHQRPI|UDQGHW DY NXUVHUQD YDOGH NRPPLWWpQ VDPPD YlJ VRP WLGLJDUH DQYlQWV L 3%/ XWELOGQLQJHQ Sn WDOHW 'H VWRUD PnOJUXSSHUQD HOHYHU VNXOOH NRPPD IUnQ NRPPXQHUQD JHQRP DWW EnGH NRPPXQDOD WMlQVWHPlQ RFK SROLWLNHU VNXOOH XWELOGDV 'HW YDU GlUI|U QDWXUOLJW I|U NRPPLWWpQ DWW VDPDUEHWD PHG GH UHJLRQDOD NRPPXQI|U EXQGHQ VRP L GH IOHVWD OlQ QRUPDOW DQRUGQDU XWELOGQLQJ I|U GHVVD PnO JUXSSHU (IWHUVRP lYHQ WMlQVWHPlQ Sn OlQVVW\UHOVHUQD YDU HQ VWRU PnO JUXSS YDU GHW lYHQ YLNWLJW DWW OlQVW\UHOVHU RFK UHJLRQDOD NRPPXQ I|UEXQG VDPDUEHWDGH RP DWW DQRUGQD NXUVHUQD

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

6DPRUGQLQJ

5HGDQ L MDQXDUL VNLFNDGH NRPPLWWpQ EUHY WLOO VDPWOLJD UHJLRQDOD NRPPXQI|UEXQG RFK OlQVVW\UHOVHU GlU PDQ LQIRUPHUDGH RP GHQ NRPPDQGH XWELOGQLQJHQ NRPPXQI|UEXQGHQV RFK OlQVVW\UHOHUQDV UROO VDPW EDG RP QDPQ Sn HQ NRQWDNWSHUVRQ

, PDUV K|OO PDQ HQ NRQIHUHQV I|U XWVHGGD NRQWDNWSHUVRQHU I|U DWW LQIRUPHUD RP GH NRQNUHWD GHWDOMHUQD YLONHW EO D RPIDWWDGH

œ.XUVHU RFK EHUlNQDG RPIDWWQLQJ

œ3HGDJRJLVN XSSOlJJQLQJ

œ%HKRY DY DQWDO OlUDUODJ L YDUMH OlQ

œ/lUDUODJHQV VDPPDQVlWWQLQJ

œ2UW RFK GDWXP I|U OlUDUNXUVHU

œ5HNU\WHULQJ DY OlUDUH

œ/lUDUQDV nWDJDQGH

œ5HGRYLVQLQJ WLOOEDND WLOO NRPPLWWpQ VHQDVW L DSULO RP

œ%LOGDGH OlUDUODJ

œ%HUlNQDG NXUVDYJLIW

œ(UVlWWQLQJ WLOO OlUDUQD

œ%HUlNQDW DQWDO GHOWDJDUH

'LVNXVVLRQHUQD Sn NRQIHUHQVHQ YDU ELWYLV JDQVND OLYOLJD 'HQ SHGD JRJLVND XSSOlJJQLQJ PHG NRUYVWRSSQLQJ LIUnJDVDWWHV 'HWWD UHVXO WHUDGH EO D L DWW NRPPLWWpQ DQOLWDGH HQ DY GH VWDUNDVWH NULWLNHUQD I|U GLVNXVVLRQHU RP GHQ SHGDJRJLVND XSSOlJJQLQJHQ

'HQ UROO VRP GH UHJLRQDOD NXUVDQRUGQDUQD ILFN VLJ WLOOGHODG NDQ VDPPDQ

IDWWDV Sn I|OMDQGH VlWW

œ5HNU\WHUD HOHYHU

œ5HNU\WHUD OlUDUH RFK VNDSD OlUDUODJ

œ2UGQD GH SUDNWLVND DUUDQJHPDQJHQ NULQJ NXUVHUQD

œ+DQWHUD HNRQRPLQ NULQJ GH UHJLRQDOD NXUVHUQD

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

5HNU\WHULQJ DY HOHYHU

7RWDOW VHWW NRP GH UHJLRQDOD NXUVDQRUGQDUQD DWW UHNU\WHUD HOHYHU L GHQ

RPIDWWQLQJ VRP NRPPLWWpQ KDGH EHUlNQDW 6RP IUDPJnWW DY WLGLJDUH

NDSLWHO NXQGH LQIRUPDWLRQHQ RP NXUVHUQD VDQQROLNW KD YDULW ElWWUH YlJ

OHGDQGH I|U HOHYHUQD QlU GHW JlOOHU YDO DY NXUV (IWHUVRP DOOD UHJLRQDOD

NXUVDQRUGQDUH KDGH OLNDQGH EHKRY DY DWW LQIRUPHUD KDGH GHW PHVW

UDWLRQHOOD WUROLJHQ YDULW RP NRPPLWWpQ OnWLW WD IUDP XQGHUODJ I|U

NXUVDQRUGQDUQDV PDUNQDGVI|ULQJ

5HNU\WHULQJ DY OlUDUH

5HNU\WHULQJHQ DY OlUDUH VW\UGHV DY NRPPLWWpQ JHQRP DWW PDQ EHWRQDGH YLNWHQ DY OlUDUODJ 0DQ YLOOH DWW GHW Sn YDUMH NXUV VNXOOH ILQQDV OlUDUH PHG ROLND EDNJUXQG RFK NRPSHWHQV /lUDUQD VNXOOH GlUI|U UHNU\WHUDV EnGH IUnQ NRPPXQHU RFK OlQVVW\UHOVHU VDPW IUnQ DQGUD EHU|UGD UHJLR QDOD RUJDQ 'HW YDU lYHQ YLNWLJW DWW GHW IDQQV NRPSHWHQV LQRP PLOM| RFK KlOVRYnUG QDWXU RFK NXOWXUYnUG RFK I\VLVN SODQHULQJ L Vn PnQJD OlUDUODJ VRP P|MOLJW 'HVVXWRP YDU GHW YLNWLJW PHG MXULGLVN NRPSHWHQV 7DQNHQ EDNRP OlUDUODJHQ YDU RFNVn DWW IOHUD L UHVSHNWLYH ODJ VNXOOH YDUD PHG VDPWLGLJW XQGHU NXUVHQ 3n Vn VlWW VNXOOH OlUDUH VRP I|U WLOOIlOOHW LQWH XQGHUYLVDGH NXQQD GHOWD L GLVNXVVLRQHU RFK OHWD UHGD Sn VYDU Sn IUnJRU XWDQ DWW XQGHUYLVQLQJHQ I|UGU|MGHV

, XWYlUGHULQJVVHPLQDULHUQD KDU OlUDUH RFK NXUVDQRUGQDUH YLWWQDW RP GHQ P\FNHW VWRUD YDULDWLRQHQ PHOODQ OlQHQ QlU GHW JlOOHU OlUDUODJHQ , PnQJD OlQ KDU PDQ InWW IUDP IXQJHUDQGH OlUDUODJ PHGDQ DQGUD OlQ VQDUDUH KDIW SRROHU DY OlUDUH VRP PDQ KDU XWJnWW IUnQ Gn PDQ PHU WLOO IlOOLJW YDOW OlUDUH WLOO NXUVHUQD %ODQGQLQJHQ DY NRPSHWHQVHU KDU L KXYXGVDN YDULW P|MOLJ DWW nVWDGNRPPD PHQ GHW KDU L HQ KHO GHO OlQ YDULW EULVW Sn MXULVWHU SODQHUDUH RFK NXOWXUYnUGDUH

, XWYlUGHULQJHQV HQNlW WLOO HOHYHUQD YLVDU GHW VLJ DWW EHU|UGD FKHIHU Sn OlQVVW\UHOVHUQD KDU KDPQDW L HQ VlUVNLOG VLWV 'HW KDU YDULW GXEEHOW Vn YDQOLJW DWW HQ EHU|UG FKHI Sn OlQVV\UHOVHQ KDU GHOWDJLW VRP OlUDUH MlP I|UW PHG PLOM|FKHIHUQD L NRPPXQHUQD 6DPWLGLJW KDU HQGDVW KlOIWHQ DY EHU|UGD FKHIHU Sn OlQVVW\UHOVHUQD GHOWDJLW L QnJRQ NXUV I|U DWW EOL OlUDUH %ODQG NRPPXQHUQDV PLOM|FKHIHU KDU GH IOHVWD VRP DJHUDW VRP OlUDUH lYHQ JnWW Sn NXUV I|U DWW EOL OlUDUH (IWHUIUnJDQ Sn DWW OlQVVW\UHOVHUQDV FKHIHU VNXOOH DJHUD VRP OlUDUH YHUNDU PHG DQGUD RUG KD EOLYLW EHW\GOLJW VW|UUH lQ YDG PDQ LQOHGQLQJVYLV SODQHUDGH I|U

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

3UDNWLVND DUUDQJHPDQJ

'H SUDNWLVND DUUDQJHPDQJHQ GYV DWW DGPLQLQVWUHUD NXUVHUQD RFK DWW

RUGQD ORNDOHU RFK PDW KDU VN|WWV KHOW XWDQ LQEODQGQLQJ DY NRPPLWWpQ ,

HOHYHQNlWHQ JHU HOHYHUQD L JHQRPVQLWW HWW I|UKnOODQGHYLV SRVLWLYW EHW\J

nU DUUDQJHPDQJHQ 'HW KDU GRFN IUDPI|UWV |QVNHPnO XQGHU XWYlUGH

ULQJVVHPLQDULHUQD DWW NXUVPDWHULDOHW NXQGH KD VNLFNDWV XW WLOO HOHYHUQD

UHGDQ HQ YHFND I|UH NXUVVWDUW 'HW IDQQV PnQJD HQJDJHUDGH HOHYHU VRP

JlUQD KDGH YHODW OlVD Sn I|UH NXUVHQ

.XUVHUQDV HNRQRPL

.RPPLWWpQ JDY GH UHJLRQDOD NXUVDQRUGQDUQD I|UKnOODQGHYLV IULD W\JODU DYVHHQGH NXUVHUQDV HNRQRPL *UXQGI|UXWVlWWQLQJHQ YDU GRFN DWW NXUVHUQD VNXOOH JHV WLOO VMlOYNRVWQDGVSULV HIWHUVRP PDQ XWJLFN IUnQ DWW NRPPXQHU OlQVVW\UHOVHU RFK DQGUD UHJLRQDOD RUJDQ VNXOOH WLOOKDQGD KnOOD OlUDUH XWDQ VW|UUH NUDY Sn HUVlWWQLQJ , XWYlUGHULQJVVHPLQDULHUQD KDU GHW IUDPJnWW DWW HUVlWWQLQJHQ KDU KDQWHUDWV Sn P\FNHW ROLND VlWW PHOODQ UHJLRQHUQD 0DQ KDU EHWDODW XW HUVlWWQLQJ WLOO DUEHWVJLYDUQD I|U GHQ O|QHNRVWQDG VRP PRWVYDUDU GHQ WLG VRP OlUDUQD XQGHUYLVDW 0DQ KDU lYHQ JLYLW HUVlWWQLQJ WLOO OlUDUH L IRUP DY DUYRGH HOOHU L IRUP DY UHVRU HOOHU DQGUD JUXSSVWlUNDQGH DNWLYLWHWHU , PnQJD UHJLRQHU KDU PDQ WLOOO OlPSDW HQ EODQGQLQJ DY GH ROLND HUVlWWQLQJVIRUPHUQD

.RPPLWWpQ YDOGH PHGYHWHW DWW LQWH VW\UD HOOHU JH UHNRPPHQGDWLRQHU RP KXU HUVlWWQLQJHQ NXQGH KDQWHUDV 'HW PHVW VOnHQGH L OlUDUQDV HU IDUHQKHW RP HUVlWWQLQJHQ lU DWW PnQJD UHJLRQHU KDU YDULW RW\GOLJD RP KXU HUVlWWQLQJHQ VNXOOH KDQWHUDV , QnJUD IDOO VYlYDGH OlUDUQD L RNXQQLJ KHW RP I|UXWVlWWQLQJDUQD Vn VHQW VRP YLG XWYlUGHULQJVVHPLQDULHUQD L RNWREHU 6DQQROLNW KDGH GHQQD RW\GOLJKHW NXQQDW PLQVNDV RP NRPPLWWpQ KDGH IRUPXOHUDW I|UVODJ WLOO HQ HOOHU InWDO HUVlWWQLQJV PRGHOOHU RFK DWW PDQ WLGLJW EHJlUW EHVNHG IUnQ GH UHJLRQDOD NXUVDQRUG QDUQD YLONHQ PRGHOO PDQ YDOW

gYULJW

'H UHJLRQDOD NXUVDQRUGQDUQD KDU WLOOVDPPDQV PHG NRPPLWWpQ RFK NDQVOLHW ELOGDW HQ WLOOIlOOLJ RUJDQLVDWLRQ I|U DWW VQDEEW JHQRPI|UD HQ RP IDWWDQGH XWELOGQLQJ .RPPLWWpQ KDU XWJnWW IUnQ DWW GH UHJLRQDOD NRP PXQI|UEXQGHQ KDU NDSDFLWHW DWW JHQRPI|UD XWELOGQLQJDUQD PHG I|UKnO ODQGHYLV OLWH VW|G IUnQ NRPPLWWpQ 3n XWYlUGHULQJVVHPLQDULHUQD PHG

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

OlUDUH RFK NXUVDUUDQJ|UHU KDU GHW IUDPJnWW DWW DUEHWHW LQWH DOOWLG KDU IOXWLW VPlUWIULWW Sn UHJLRQDO QLYn 6W|UVW IUDPVWnU SUREOHPHQ KD YDULW L GH WYn Q\OLJHQ VDPPDQVODJQD OlQHQ 9lVWUD *|WDODQG RFK 6NnQH 6DPPDQ VODJQLQJHQ YHUNDU KD KDIW HQ SnWDJOLJ SnYHUNDQ lYHQ Sn NRPPXQI|U EXQGHQ 6YnULJKHWHU KDU lYHQ XSSVWnWW L W H[ 6WRFNKROP VRP NRP DWW WD JRG WLG Sn VLJ DWW NRPPD LJnQJ , 8SSVDOD OlQ NRP OlQVVW\UHOVHQ DWW DJHUD VRP NXUVDUUDQJ|U L VWlOOHW I|U GHW UHJLRQDOD NRPPXQI|UEXQGHW (UIDUHQKHWHQ YLVDU PHG DQGUD RUG DWW NRPPXQI|UEXQGHQ DY ROLND VNlO NDQ KD SnWDJOLJW ROLND I|UXWVlWWQLQJDU DWW NODUD GHQ SnIUHVWQLQJ VRP HQ VWRU XWELOGQLQJVVDWVQLQJ LQQHElU 'HW lU GlUI|U YLNWLJW DWW NRPPLWWpQ RFK NDQVOLHW VQDEEW InQJDU XSS YDU VYnULJKHWHUQD ILQQV RFK JHU VW|G GlU Vn lU P|MOLJW

6OXWVDWVHU

œ'H UHJLRQDOD NXUVDQRUGQDUQDV UHNU\WHULQJ DY HOHYHU KDGH VDQQROLNW XQGHUOlWWDWV DY RP NRPPLWWpQ WDJLW IUDP JHQRPDUEHWDGH H[HPSHO Sn LQIRUPDWLRQVPDWHULDO RP NXUVHUQD

œ, PnQJD OlQ KDU PDQ InWW IUDP IXQJHUDQGH OlUDUODJ HQOLJW NRPPLWWpQV LQWHQWLRQHU 'HW KDU YDULW YLVV EULVW Sn MXULVWHU SODQHUDUH RFK NXOWXU YnUGDUH

œ&KHIHU Sn OlQVVW\UHOVHU KDU HIWHUIUnJDWV VRP OlUDUH L VW|UUH XWVWUlFNQLQJ lQ YDG PDQ SODQHUDW I|U

œ'H UHJLRQDOD NXUVDQRUGQDUQD KDU L PnQJD IDOO YDULW RW\GOLJD RP KXU HUVlWWQLQJHQ WLOO OlUDUH RFK DUEHWVJLYDUH VNXOOH KDQWHUDV .RPPLWWpQ KDGH NXQQDW JH NXUVDQRUGQDUQD QnJUD H[HPSHO Sn KXU HUVlWWQLQJHQ NXQGH KDQWHUDV RFK EHJlUW DWW PDQ UHGRYLVDGH GHWWD RFK LQIRUPDGH OlUDUQD

œ'H UHJLRQDOD NRPPXQI|UEXQGHQ KDU DY ROLND VNlO SnWDJOLJW ROLND I|UXWVlWWQLQJDU DWW PHGYHUND L VWRUD XWELOGQLQJVVDWVQLQJDU 'HW lU GlU I|U YLNWLJW DWW NRPPLWWpQ RFK NDQVOLHW VQDEEW InQJDU XSS YDU VYnULJ KHWHUQD ILQQV RFK JHU VW|G GlU Vn lU P|MOLJW

/lUDUH

, VLQD WLGLJD NDON\OHU JMRUGH NRPPLWWpQ EHUlNQLQJDU |YHU KXU PnQJD OlUDUH VRP VNXOOH EHK|YDV Sn GH UHJLRQDOD NXUVHUQD 0DQ GLYLGHUDGH VLQ XSSVNDWWQLQJ |YHU WRWDOD DQWDOHW NXUVGHOWDJDUH PHG PHOODQ RFK

3n Vn VlWW ILFN PDQ IUDP DWW GHW VNXOOH EHK|YD KnOODV FD NXUVWLOO

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

IlOOHQ 2PUlNQDW L DQWDO NXUVGDJDU EOHY GHW GU\JW NXUVGDJDU 0HG

WYn OlUDUH SHU NXUVGDJ NXQGH NRPPLWWpQ NRPPD IUDP WLOO DWW GHW VNXOOH

EHK|YDV FD OlUDUGDJDU

.RPPLWWpQ WlQNWH VLJ OlUDUODJ RP I\UD SHUVRQHU I|U DWW In WLOOUlFNOLJ

NRPSHWHQVPlVVLJ EUHGG )|U DWW EHUlNQD EHKRYHW DY DQWDOHW OlUDUODJ

XWJLFN PDQ IUnQ DWW YDUMH OlUDUH L JHQRPVQLWW VNXOOH PHGYHUND L VH[

NXUVGDJDU

/lUDUNXUVHU

.RPPLWWpQV XSSJLIW YDU DWW JH XWELOGQLQJ WLOO GH OlUDUH VRP GH UHJLRQDOD NXUVDQRUGQDUQD UHNU\WHUDGH 0DQ LQOHGGH PHG HQ LQWURGXNWLRQVGDJ L DXJXVWL VHSWHPEHU VRP EHVWRG DY I\UD GHODU

œ%DNJUXQG RP XWELOGQLQJHQ RFK RP DWW YDUD OlUDUH

œgYHUVLNW |YHU PLOM|EDONHQ

œ8QGHUYLVQLQJ L SHGDJRJLN

œ3ODQHULQJ PHG GH UHJLRQDOD NXUVDQRUGQDUQD

,QWURGXNWLRQVGDJHQ JnU SRSXOlUW XQGHU QDPQHW SHGDJRJLVND GDJHQ

EHURHQGH Sn DWW XQGHUYLVQLQJHQ L SHGDJRJLN WRJ XSS XQJHIlU KDOYD

GDJHQ , XWYlUGHULQJVVHPLQDULHUQD KDU GHQ SHGDJRJLVND GHOHQ InWW Sn

WDJOLJW QHJDWLYD RPG|PHQ ,QQHKnOOHW PRWVYDUDGH LQWH I|UYlQWQLQJDUQD

VDPWLGLJW VRP PDQ LGDJ NDQ VH DWW XWU\PPHW I|U SHGDJRJLVND XWYLN

QLQJDU YLG VLGDQ DY NXUVHUQD XSSOlJJQLQJ KDU YDULW VWDUNW EHJUlQVDW

%HKRYHW DY HQ LQWURGXNWLRQVNXUV lU PDQ GlUHPRW |YHUHQV RP (Q

VW|UUH GHO DY LQWURGXNWLRQVNXUVHQ KDGH LVWlOOHW NXQQDW lJQDV nW DWW JH HQ

GMXSDUH LQEOLFN L PLOM|EDONHQ

8WELOGQLQJHQ DY OlUDUQD IRUWVDWWH HQ RFK HQ KDOY PnQDG HIWHU LQWUR

GXNWLRQVGDJHQ PHG NXUVHU L JUXQGNXUVHQ .XUVHU K|OOV Sn VDPPD VlWW

VRP GHW YDU PHQLQJHQ DWW OlUDUQD VMlOYD VNXOOH KnOOD NXUVHUQD , XWYlUGH

ULQJVVHPLQDULHUQD KDU GHWWD GLVNXWHUDWV HQ KHO GHO 0nQJD OlUDUH DQVHU

DWW GHW LQWH lU WLOOUlFNOLJW DWW EDUD NXQQD SUHFLV GHW VRP PDQ VMlOY VND

OlUD XW 3n JUXQGNXUVHQV OlUDUNXUV IDQQV HWW NYlOOVPRPHQW GlU OlUDUQD

NXQGH WUlIIDV I|U DWW GLVNXWHUD XSSOlJJQLQJHQ DY NXUVHQ , NXUVXWYlUGH

ULQJDUQD KDU PnQJD OlUDUH VNULYLW DWW GH KDU XSSVNDWWDW GHQQD P|MOLJKHW

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

)|U DWW ElWWUH DQSDVVD OlUDUXWELOGQLQJHQV LQOHGQLQJ WLOO OlUDUQDV |QVNHPnO KDU I|OMDQGH I|UVODJ IUDPI|UWV Sn XWYlUGHULQJVVHPLQDULHUQD

œ,QOHG PHG HQ LQWURGXNWLRQVGDJ GlU W\QJGSXQNWHQ OLJJHU L HQ |YHUVLNW RP GHQ Q\D ODJVWLIWQLQJHQ

œ*HQRPI|U JUXQGNXUVHQ Vn VRP GHQ lU WlQNW DWW KnOODV I|U HOHYHUQD

œ+nOO HQ XSSI|OMQLQJVGDJ Vn DWW OlUDUQD NDQ P|WDV RFK GLVNXWHUD KXU PDQ NDQ KDQWHUD XWELOGQLQJVVLWXDWLRQHQ RFK I|U DWW GLVNXWHUD IUnJRU RP WLOOlPSQLQJHQ DY ODJHQ

0nQJD OlUDUH YLWWQDGH GHVVXWRP RP DWW GHW KDGH YDULW VYnUW DWW RPVlWWD OlUGRPDUQD Sn OlUDUNXUVHQ WLOO KXU PDQ VMlOY VNXOOH DJHUD VRP OlUDUH 8WYlUGHULQJHQV VOXWVDWV Sn GHQQD SXQNW EOLU GlUI|U DWW NRPPLWWpQ VDQQROLNW KDGH NXQQDW VW|WWD OlUDUQD PHU JHQRP DWW KnOOD HQ MRXU KDYDQGH OlUDUH WLOOJlQJOLJ SHU WHOHIRQ RFK HSRVW

6RP WLGLJDUH KDU NRQVWDWHUDWV L XWYlUGHULQJHQ NRP LQWH NRPPLWWpQ DWW JHQRPI|UD QnJUD VlUVNLOGD OlUDUNXUVHU I|U |YHUVLNWVNXUVHQ 8WYlUGH ULQJHQV VOXWVDWV Sn GHQ SXQNWHQ lU DWW GHW VDQQROLNW KDGH YDULW YlUGHIXOOW DWW DQRUGQD HQGDJDUV OlUDUNXUVHU GlU W\QJGSXQNWHQ VNXOOH YDUD KXU PDQ VRP OlUDUH SDNHWHUDU VWRIIHW DWW SDVVD Vn ROLND PnOJUXSSHU VRP SROLWLNHU I|UHWDJDUH RFK FKHIHU Sn P\QGLJKHWHU

/lUDUNXUVHQD L I|UGMXSQLQJVNXUVHUQD KDU KnOOLWV XQGHU YnUHQ RFK K|VWHQ /lUDUQD KDU KDIW IlUUH V\QSXQNWHU Sn GHVVD NXUVHU lQ Sn LQWURGXNWLRQVGDJHQ RFK JUXQGNXUVHQ 'HW NDQ YDUD Vn DWW XSSOlJJ QLQJHQ PHG H[HPSHO RFK GLVNXVVLRQHU KDU JLYLW XWU\PPH lYHQ I|U OlUDUQD DWW Sn HWW ElWWUH VlWW KDQWHUD VLQ HJQD IUnJRU LQI|U OlUDUVNDSHW 6RP WLGLJDUH IUDPJnWW XWJ|U NXUVHQ 0LOM|EDONHQ RFK GHQ I\VLVND SODQH ULQJHQ HWW XQGDQWDJ YLONHW IUlPVW KDU EHURWW Sn HWW LQWH KHOW IlUGLJ DUEHWDW NXUVNRPSHQGLXP RFK OlUDUKDQGOHGQLQJ

.RPPLWWpQ KDGH XUVSUXQJOLJHQ SODQHUDW I|U OlUDUNXUVHU I|U

OlUDUH ,QWUHVVHW YLVDGH VLJ YDUD EHW\GOLJW VW|UUH lQ Vn 'HQ IUlPVWD RUVDNHQ WLOO GHWWD YDU DWW OlUDUNXUVHUQD YDU GH I|UVWD PLOM|EDONVNXUVHUQD VRP DQRUGQDGHV 0nQJD VRP YDU PHVW DQJHOlJQD RP DWW IRUWELOGD VLJ L WLG I|UH ODJHQV LNUDIWWUlGDQGH DQYlQGH OlUDUNXUVHUQD I|U VLQ HJHQ IRUW ELOGQLQJ 6DPPDQODJW SHUVRQHU GHOWRJ L OlUDUNXUVHUQD 9LG XWYlUGH ULQJVVHPLQDULHUQD XSSVNDWWDGH OlUDUH RFK NXUVDQRUGQDUH DWW XQJHIlU KlOIWHQ DY GHVVD KDGH NRPPLW DWW DUEHWD VRP OlUDUH

6RP OlUDUH Sn OlUDUNXUVHUQD KDU NRPPLWWpQ DQOLWDW GH VRP LQJLFN L DUEHWVJUXSSHUQD I|U DWW WD IUDP NRPSHQGLHUQD (OHYHUQD Sn OlUDUNXU VHUQD KDU KDIW P\FNHW EODQGDG XSSIDWWQLQJ RP OlUDUNXUVHUQDV ROLND OlUDUH 2PG|PHQ VSlQQHU |YHU KHOD VNDODQ IUnQ P\FNHW EUD WLOO P\FNHW

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

GnOLJD .RPPLWWpQ KDGH WLOOIUnJDW DUEHWVJUXSSHUQD RP YLOND VRP NXQGH WlQND VLJ DWW PHGYHUND VRP OlUDUH Sn OlUDUNXUVHUQD PHQ PDQ KDGH LQWH JMRUW QnJRW PHGYHWHW XUYDO EODQG GH VRP DQPlOW VLJ /lUDUQD KDGH |QVNDW VLJ DWW NRPPLWWpQV YDO DY OlUDUH Sn OlUDUNXUVHUQD KDGH JMRUWV PHG VW|UUH RPVRUJ

(OHYHUQDV V\Q Sn OlUDUQD

0RW GHQ EDNJUXQG VRP KDU JLYLWV KlU lU GHW LQWUHVVDQW DWW VH KXU HOHYHUQD KDU XSSIDWWDW OlUDUQD , XWYlUGHULQJHQV HQNlW WLOO HOHYHUQD KDU LQJnWW HQ IUnJD RP YDG PDQ KDU XSSIDWWDW VRP VlUVNLOW EUD UHVSHNWLYH GnOLJW %lVW EHW\J JHU HOHYHUQD WLOO NRPSHQGLHUQD RFK NXUVHUQDV UHOHYDQV 'lUHIWHU NRPPHU OlUDUQDV lPQHVNRPSHWHQV RFK KXU PDQ YlU GHUDU NXUVHUQDV XSSOlJJQLQJ 0LQVW SRVLWLYW KDU HOHYHUQD XSSIDWWDW OlUDUQDV MXULGLVND NRPSHWHQV RFK GH SUDNWLVND DUUDQJHPDQJHQ UXQW NXU VHQ $QGHOHQ QHJDWLYD RPG|PHQ RP OlUDUQD lU P\FNHW OLWHQ

8WYlUGHULQJHQ GUDU VOXWVDWVHQ DWW OlUDUQD JHQRPI|UW XWELOGQLQJHQ Sn HWW P\FNHW EUD VlWW PHG WDQNH Sn GHQ NRUWD WLG PDQ KDU KDIW WLOO I|U IRJDQGH DWW VlWWD VLJ LQ L PDWHULDOHW RFK DWW RPIRUPD GHW WLOO HQ XQGHU YLVQLQJVVLWXDWLRQ 8SSIDWWQLQJHQ DWW OlUDUQDV MXULGLVND NRPSHWHQV LQWH JHV OLND K|JW EHW\J VRP lPQHVNXQQDQGHW DYVSHJODU HQ DY K|UQVWHQDUQD L 0LOM|EDONVXWELOGQLQJHQ $YVLNWHQ KDU YDULW DWW OlUDUQD IUlPVW VND KD VDNNXQVNDS LQRP PLOM|IUnJRU RFK LQWH IUlPVW YDUD MXULVWHU

(UIDUHQKHWVXWE\WH RFK QlWYHUN

, UHJHULQJHQV GLUHNWLY WLOO NRPPLWWpQ ILQQV WYn SXQNWHU VRP EHKDQGODU

GHQ DOOPlQQD LQULNWQLQJHQ KRV DUEHWHW PHG XWELOGQLQJHQ

œ6NDSD I|UXWVlWWQLQJDU I|U VDPUnG RFK HUIDUHQKHWVXWE\WH PHOODQ GH VRP JHQRPI|U XWELOGQLQJHQ

œ9HUND I|U DWW QlWYHUN I|U LQIRUPDWLRQ VNDSDV

.RPPLWWpQ KDU DUEHWDW I|U HUIDUHQKHWVXWE\WH IUDPI|U DOOW JHQRP DWW EH WRQD YLNWHQ DY DWW OlUDUQD DUEHWDU L OlUDUODJ 3n Vn VlWW KDU PDQ KRSSDWV DWW OlUDUQD VND NlQQD VLJ PLQGUH XWOlPQDGH RFK GHVVXWRP NXQQD VWLPXOHUD YDUDQGUD 6RP IUDPJnWW WLGLJDUH L XWYlUGHULQJHQ VNXOOH NRP PLWWpQ WUROLJHQ KD NXQQDW ELGUD PHU WLOO HUIDUHQKHWVXWE\WHW (WW H[HPSHO Sn GHWWD lU GHQ XSSI|OMQLQJVGDJ HIWHU JUXQGNXUVHQ I|U OlUDUQD VRP KDU I|UHVODJLWV Sn XWYlUGHULQJVVHPLQDULHUQD (Q DQQDQ P|MOLJKHW KDGH YDULW

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

DWW KnOOD HQ MRXUKDYDQGH OlUDUH WLOOJlQJOLJ I|U OlUDUQD (Q WUHGMH P|M

OLJKHW KDGH YDULW DWW LQUlWWD HQ FKDWIXQNWLRQ Sn 0LOM|EDONVXWELOGQLQJHQV

KHPVLGD VRP KnOOV WLOOJlQJOLJ HQEDUW I|U OlUDUH YLD O|VHQRUG 3n Vn VlWW

KDGH OlUDUQD VMlOYD NXQQDW I|UD HQ GLDORJ PHG YDUDQGUD

'HQ DQGUD SXQNWHQ IUnQ GLUHNWLYHQ LQQHElU DWW NRPPLWWpQ VNXOOH

YHUND I|U DWW GHW VNDSDV QlWYHUN bYHQ KlU lU GHW OlUDUODJHQ VRP lU NlU

QDQ L NRPPLWWpQV LQVDWVHU *HQRP VDPPDQVlWWQLQJHQ DY OlUDUH IUnQ

NRPPXQHU OlQVVW\UHOVHU RFK DQGUD RUJDQ XSSVWnU GHW P|MOLJKHWHU I|U

OlUDUQD DWW QlUPDUH OlUD NlQQD YDUDQGUD , XWYlUGHULQJVVHPLQDULHUQD

YLWWQDGH PnQJD OlUDUH RP GHQ SRVLWLYD HUIDUHQKHWHQ DY DWW In NRQWDNW

PHG WMlQVWHPlQ PHG OLNDUWDGH DUEHWVXSSJLIWHU L DQGUD NRPPXQHU RFK

OlQVVW\UHOVHU

6OXWVDWVHU

œ/lUDUQD YDU L VWRUW Q|MGD PHG OlUDUNXUVHUQD PHQ PDQ KDGH |QVNDW VLJ HQ VW|UUH RPVRUJ YLG YDO DY H[SHUWHU VRP YDU OlUDUH Sn OlUDUNXUVHUQD

œ8SSOlJJQLQJHQ DY OlUDUNXUVHQ L 0LOM|EDONHQ RFK GHQ I\VLVND SODQH ULQJHQ XSSIDWWDGHV LQWH YDUD WLOOUlFNOLJW JHQRPDUEHWDG

œ6lUVNLOG XWELOGQLQJ L SHGDJRJLN I|U OlUDUQD YDU LQWH KHOW Q|GYlQGLJ HIWHUVRP NXUVPDWHULDOHW JDY OLWHW XWU\PPH I|U HJQD SHGDJRJLVND JUHSS IUnQ OlUDUQD

œ/lUDUQD KDGH XSSVNDWWDW DWW KD HQ XSSI|OMQLQJVGDJ HIWHU OlUDUJUXQG NXUVHQ I|U DWW NXQQD GLVNXWHUD ROLND VlWW DWW OlJJD XSS XWELOGQLQJHQ RFK ROLND VDNIUnJRU RP WLOOlPSQLQJHQ DY EDONHQ

œ.RPPLWWpQ KDGH NXQQDW VW|WWD OlUDUQD \WWHUOLJDUH W H[ JHQRP HQ MRXUKDYDQGH OlUDUH WLOOJlQJOLJ SHU WHOHIRQ RFK H SRVW RFK JHQRP HQ FKDW IXQNWLRQ WLOOJlQJOLJ HQEDUW I|U OlUDUH Sn NRPPLWWpQV KHPVLGD

œ(Q VlUVNLOG OlUDUNXUV I|U |YHUVLNWVNXUVHQ KDGH VDQQROLNW YDULW YlUGH IXOO 'HQ NXQGH KD EHKDQGODW KXU OlUDUQD NXQGD DQSDVVD VWRIIHW WLOO ROLND PnOJUXSSHU

œ/lUDUQD KDU JHQRPI|UW XWELOGQLQJHQ Sn HWW P\FNHW EUD VlWW PHG WDQNH Sn GHQ NRUWD WLG PDQ KDU KDIW WLOO VLWW I|UIRJDQGH

œ/lUDUODJHQ KDU YDULW YLNWLJD EnGH I|U DWW OlUDUQD VND NXQQD XWE\WD HUIDUHQKHWHU PHG YDUDQGUD RFK I|U DWW VNDSD NRQWDNWHU PHOODQ P\QGLJ KHWHU Sn ORNDO RFK UHJLRQDO QLYn

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

,QIRUPDWLRQ

, GHQ XUVSUXQJOLJD XWELOGQLQJVSODQ VRP NRPPLWWpQ SUHVHQWHUDGH L PDUV

KDGH NRPPLWWpQ DYJUlQVDW VLQ XSSJLIW I|UKnOODQGHYLV W\GOLJW ,Q IRUPDWLRQ VlUVNLOW ULNWDG WLOO DOOPlQKHWHQ HOOHU I|UHWDJHQ VNXOOH LQWH LQJn L DUEHWHW 1lULQJVOLYHW VNXOOH LVWlOOHW EHUHGDV WLOOIlOOH DWW DQYlQGD NRP PLWWpQV NXUVPDWHULDO RFK DWW GHOWD Sn OlUDUNXUVHU 'HQ HQGD VW|UUH LQ IRUPDWLRQVVDWVQLQJHQ YLG VLGDQ DY NXUVYHUNVDPKHWHQ VNXOOH YDUD HQ KHPVLGD Sn ,QWHUQHW

.RPPLWWpQ NRP GRFN DWW lJQD VLJ nW HWW DQWDO DNWLYLWHWHU I|U LQIRU PDWLRQ RFK XWELOGQLQJ lYHQ YLG VLGDQ RP GHQ XUVSUXQJOLJD SODQHQ 'HWWD NXQGH EO D I|UYHUNOLJDV JHQRP WLOOlJJVDQVODJ IUnQ UHJHULQJ RFK RYlQWDW VWRUD LQWlNWHU IUnQ NRPSHQGLHI|UVlOMQLQJHQ

+HPVLGD

3n NRPPLWWpQV KHPVLGD Sn ,QWHUQHW ILQQV VLGRU PHG KHOD XWELOGQLQJV PDWHULDOHW RFK VLGRU PHG DOOD ODJDU RFK I|URUGQLQJDU VRP EHU|U PLOM| EDONHQ 'lUWLOO ILQQV HQ IUnJHOnGD GlU EHV|NDUH NDQ VWlOOD IUnJRU RFK In VYDU I|UKnOODQGHYLV VQDEEW )UnJRU RFK VYDU SXEOLFHUDV HIWHU KDQG Sn KHPVLGDQ Vn DWW PnQJD NDQ WD GHO DY VYDUHQ Sn LQNRPQD IUnJRU +HP VLGDQ |SSQDGH L VHSWHPEHU 8QGHU KDU KHPVLGDQ L JHQRP VQLWW KDIW FD EHV|NDUH SHU GDJ UlNQDW Sn UHTXHVWV EHV|N

)|U DWW Sn ElVWD VlWW In EnGH VQDEED RFK NRUUHNWD VYDU Sn IUnJRUQD WLOO IUnJHOnGDQ KDU NRPPLWWpQ I|UV|NW PHG ROLND DUEHWVPHWRGHU ,QOHGQLQJV YLV VDPPDQVWlOOGH NRPPLWWpQV NDQVOL LQNRPQD IUnJRU RFK WRJ IUDP I|U VODJ WLOO VYDU )|UVODJHQ VNLFNDGHV WLOO 1DWXUYnUGVYHUNHW I|U JUDQVNQLQJ 2P VYDU LQWH HUK|OOV IUnQ 1DWXUYnUGVYHUNHW LQRP WUH DUEHWVGDJDU SXEOL FHUDGHV NDQVOLHW VYDUHW L IUnJHOnGDQ , PDUV NRQVWDWHUDGH NRP PLWWpQ DWW 1DWXUYnUGVYHUNHW LQWH OlQJUH JDY QnJUD XWOnWDQGHQ RP VYDUHQ YDUI|U PDQ EHVO|W DWW NDQVOLHWV VYDU VNXOOH SXEOLFHUDV XWDQ I|UHJnHQGH JUDQVNQLQJ

, XWYlUGHULQJHQV HOHYHQNlW YLVDU GHW VLJ DWW KHPVLGDQ EHV|NV UHODWLYW RIWD 'HQ PHVW IUHNYHQWD PnOJUXSSHQ lU KDQGOlJJDUQD Sn OlQV VW\UHOHUQD 'U\JW KlOIWHQ DY OlQVVW\UHOVHUQD EHV|NHU KHPVLGDQ PLQVW YDUMH YHFND 3RSXOlUDVW lU VLGRUQD PHG ODJWH[WHQ I|URUGQLQJDUQD RFK lQGULQJDU L ODJ RFK I|URUGQLQJDU

%ODQG PLOM|I|UYDOWQLQJDUQD L NRPPXQHUQD JnU HQ WUHGMHGHO LQ Sn KHPVLGDQ PLQVW YDUMH YHFND 3RSXOlUDVW lU IUnJHOnGDQ (WW VWDUNW LQ

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

WUHVVH I|U IUnJHOnGDQ KDU lYHQ YLVDWV Sn XWYlUGHULQJVVHPLQDULHUQD PHG

OlUDUH RFK UHJLRQDOD NXUVDQRUGQDUH 0DQ PHQDU DWW P|MOLJKHWHQ DWW

VWlOOD IUnJRU RFK VQDEEW In VYDU KDU YDULW P\FNHW YlUGHIXOO

, UHJHULQJHQV GLUHNWLY IDQQV HQ SXQNW VRP LQQHEDU DWW NRPPLWWpQ

VNXOOH YHUND I|U DWW NXQVNDSVEDVHU E\JJV XSS .RPPLWWpQ KDU DYJUlQVDW

XSSJLIWHQ Vn DWW KHPVLGDQ RFK NXUVPDWHULDOHW KDU EOLYLW GH NXQVNDSV

EDVHU VRP NRPPLWWpQ PDQ KDU HQJDJHUDW VLJ L .XQVNDSVEDVHU DY PHU

EHVWnHQGH VODJ KDU PDQ |YHUOnWLW nW PDUNQDGHQ RFK nW EHU|UGD VHNWRUV

P\QGLJKHWHU DWW WLOOKDQGDKnOOD

0LOM|EDONVWUlGHW

6RP VW|G I|U XQGHUYLVQLQJHQ L |YHUVLNWVNXUVHU RFK JUXQGNXUVHU KDU

NRPPLWWpQ WDJLW IUDP HQ JUDILVN IUDPVWlOOQLQJ DY PLOM|EDONHQ L IRUP DY

HWW WUlG PLOM|EDONVWUlGHW 3n HWW |YHUVNnGOLJW VlWW LOOXVWUHUDV PLOM|ODJ

VWLIWQLQJHQV VWUXNWXU DY WUlGHWV U|WWHU VWDP RFK JUHQDU Sn HQ LOOXVWUHUDG

SODQVFK 7UlGHW VWUlYDU Sn SODQVFKHQ XSS PRW VROHQ VRP PRWVYDUDU

PLOM|EDONHQV PnO

3n XWYlUGHULQJVVHPLQDULHUQD KDU OlUDUQD JLYLW P\FNHW JRGD YLWVRUG

RP EnGH WUlGHW VRP LGp RFK RP VlWWHW DWW LOOXVWUHUD GHW 7UlGHW KDU YDULW

WLOO VWRU KMlOS I|U DWW JH HOHYHUQD HQ |YHUEOLFN |YHU PLOM|EDONHQ RFK I|U

RUGQLQJDUQD

)|UHWDJVEURVFK\U

, VOXWHW DY EOHY NRPPLWWpQ NRQWDNWDW DY PLOM|GHSDUWHPHQWHW PHG DQOHGQLQJ DY DWW NRPPLWWpQ XWWDODW SULRULWHUDW ERUW LQIRUPDWLRQ ULNWDG PRW I|UHWDJ 'HSDUWHPHQWHW YDU DQJHOlJHW RP DWW VPnI|UHWDJ VlUVNLOW VNXOOH QnV PHG LQIRUPDWLRQ RFK JDY GlUI|U NRPPLWWpQ L WLOOlJJVXSSGUDJ DWW WD IUDP HQ NRUWIDWWDG EURVFK\U DQSDVVDG WLOO VPnI|UHWDJDUH %URVFK\UHQ WU\FNWHV L H[HPSODU RFK GLVWULEXHUDGHV WLOO EUDQVFKRUJDQ I|UHWDJ NRPPXQHU RFK OlQVVW\UHOVHU

0LOM|PnOHQ

1lU NRPPLWWpQ L E|UMDQ Sn VnJ DWW I|UVlOMQLQJHQ DY NRPSHQGLHU |YHUWUlIIDGH I|UYlQWQLQJDUQD YDOGH PDQ DWW DQYlQGD HQ GHO DY |YHU VNRWWHW WLOO DWW WD IUDP HQ DIILVFK RFK HQ EURVFK\U RP ULNVGDJHQV IHPWRQ

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

PLOM|PnO .DQVOLHW KDU JMRUW HWW XWVNLFN WLOO NRPPXQHUQD RFK HUEMXGLW GHP DWW UHNYLUHUD DIILVFKHU RFK EURVFK\UHU WLOO HQ OnJ NRVWQDG

.RPPXQEURVFK\U

, XWYlUGHULQJVVHPLQDULHUQD KDU GHW P\FNHW W\GOLJW IUDPJnWW DWW SROLWL NHUQD L PnQJD NRPPXQHU KDU KDIW VYnUW DWW DQSDVVD VLJ WLOO GHQ I|U VWlUNWD UROO VRP PLOM|EDONHQ JLYLW PLOM|WMlQVWHPlQQHQ L WLOOV\QVDUEHWHW , QnJUD IDOO KDU GHW EOLYLW Vn XWWDODGH NRQIOLNWHU DWW GHW KDU NRPPLW DWW UDSSRUWHUDV L PHGLD .RPPLWWpQ KDU DQYlQW HQ GHO DY VLWW |YHUVNRWW IUnQ NRPSHQGLHI|UVlOMQLQJHQ WLOO DWW IUDPVWlOOD HQ EURVFK\U I|U DWW \WWHUOLJDUH LQIRUPHUD NRPPXQSROLWLNHU RP NRQVHNYHQVHQ DY PLOM|EDONHQ

gYULJW

1nJRQ LQIRUPDWLRQ RP YDG PLOM|EDONHQ LQQHElU I|U PlQQLVNRU L DOO PlQKHW KDU NRPPLWWpQ lQQX LQWH WDJLW IUDP 2UVDNHQ lU DWW GHW lU I|UKnOODQGHYLV NRVWVDPW RFK DWW PDQ LQWH KDU KLWWDW IRUPHQ I|U GHW 3n XWYlUGHULQJVVHPLQDULHUQD PHG OlUDUH RFK NXUVDQRUGQDUH YDU PnQJD |YHUW\JDGH RP DWW VnGDQ LQIRUPDWLRQ YDU YLNWLJ DWW VSULGD

9LG VLGDQ DY GHW HJHQWOLJD NXUVXWEXGHW RFK LQIRUPDWLRQHQ KDU NRP PLWWpQ lYHQ JHQRPI|UW HOOHU PHGYHUNDW L QnJUD PLQGUH NXUVHU 'RP VWROVYHUNHW EHVOXWDGH WLGLJW XQGHU NRPPLWWpQV DUEHWH DWW PDQ VNXOOH XW ELOGD VLQ SHUVRQDO Sn HJHQ KDQG , GLVNXVVLRQHU PHG I|UHWUlGDUH I|U NRPPLWWpQ NRP PDQ IUDP WLOO DWW NRPPLWWpQ LVWlOOHW VNXOOH RUGQD HQ NXUV L DOOPlQ PLOM|NXQVNDS I|U GRPVWROVYHUNHWV SHUVRQDO .XUVHQ NRP DWW XWI|UDV DY 1DWXUYnUGVYHUNHW

0LOM|EDONVXWELOGQLQJHQ KDU lYHQ JHQRPI|UW NXUVHU RP PLOM|EDONHQ I|U PLOM|GHSDUWHPHQWHW RFK |YULJD LQRP UHJHULQJVNDQVOLHW VRP KDU KDIW EHKRY DY XWELOGQLQJ

)|U DWW JH QlULQJVOLYHW |NDG P|MOLJKHW DWW XWELOGDV RP PLOM|EDONHQ KDU NRPPLWWpQ lYHQ DQRUGQDW HQGDJVNXUVHU I|U I|UHWDJDUH ,QWUHVVHW IUnQ I|UHWDJHQ YDU EHJUlQVDW RFK UHVXOWHUDGH L WYn NXUVHU

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

6OXWVDWVHU

œ0LOM|EDONVXWELOGQLQJHQV KHPVLGD EHV|NV UHODWLYW RIWD DY GH SULPlUD PnOJUXSSHUQD

œ)UnJHOnGDQ Sn KHPVLGDQ KDU IUlPVW XSSVNDWWDWV DY NRPPXQHUQDV KDQGOlJJDUH

œ7DFN YDUH WLOOlJJVDQVODJ RFK RYlQWDW VWRU I|UVlOMQLQJ DY NRPSHQGLHU KDU NRPPLWWpQ NXQQDW VSULGD LQIRUPDWLRQ lYHQ WLOO DOOPlQKHW RFK I|UHWDJ L YLVV XWVWUlFNQLQJ

)|UVODJ WLOO I|UElWWULQJDU

'HW ILQQV ULVN I|U DWW HWW NDSLWHO VRP KDQGODU RP I|UVODJ WLOO I|U

ElWWULQJDU XQGHUI|UVWnWW NDQ XSSIDWWDV VRP RQ|GLJW QHJDWLYW %DNRP

YDUMH I|UVODJ L GHWWD NDSLWHO ILQQV WURWV DOOW HQ HOOHU IOHUD LDNWWDJHOVHU RP

I|UKnOODQGHQ VRP XWYlUGHUDUHQ L HIWHUKDQG EHG|PHU KDGH NXQQDW J|UDV

Sn DQQDW VlWW

)|U DWW JH NDSLWOHW HWW PHU EDODQVHUDW LQQHKnOO lU GHW GlUI|U YLNWLJW DWW I|UVW QlPQD QnJUD DY GH RPUnGHQ GlU 0LOM|EDONVXWELOGQLQJHQ KDU O\FNDWV VlUVNLOW EUD

œ)|UXWVlWWQLQJDUQD PHG NRUW RP WLG RFK OnJ EXGJHW KDU KDQWHUDWV JHQRP DWW Vn OnQJW VRP P|MOLJW DUEHWD PHG NlQGD PHWRGHU

œ.DQVOLHWV RUJDQLVDWLRQ RFK VWUlYDQ DWW KnOOD EXGJHW KDU YDULW P\FNHW JRG

œ8WELOGQLQJHQV XSSOlJJQLQJ RFK NXUVPDWHULDO KDU L KXYXGVDN YDULW P\FNHW EUD

œ(Q IUDPJnQJVULN VDPYHUNDQ PHG PnQJD DNW|UHU

œ3UREOHP KDU KDQWHUDWV VQDEEW QlU GH EOLYLW NlQGD

œ(QJDJHPDQJHW KDU YDULW VWDUNW

œ%HW\GDQGH LQVDWVHU DY HQVNLOGD SHUVRQHU

7LG

'HQ VW|UVWD XWPDQLQJHQ I|U NRPPLWWpQ YDU DWW XWELOGQLQJHQ VNXOOH JHQRPI|UDV Sn NRUW WLG ,QI|U IUDPWLGD XWELOGQLQJVVDWVQLQJDU DY OLN

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

QDQGH VODJ YRUH GHW DQJHOlJHW DWW L I|UYlJ NXQQD DYJ|UD QlU DUEHWHW

KHOVW VNXOOH EHK|YD SnE|UMDV (Q WLGSODQ VRP WlFNHU LQ GH I|UVODJ VRP

SUHVHQWHUDV L GHWWD NDSLWHO YLVDV L ILJXU

)LJXU )|UVODJ WLOO WLGSODQ I|U 0LOM|EDONVXWELOGQLQJHQ VRP KDGH

JLYLW NRPPLWWpQ ElWWUH I|UXWVlWWQLQJDU I|U VLWW DUEHWH

)|UH LNUDIWWUlGDQGH (IWHU LNUDIWWUlGDQGHW  
+DOYnU   +DOYnU +DOYnU (WW nU  
.RPPLWWp RFK PHG   *UXQGNXUVHQ KnOOV /lUDUQD WLOO JUXQG /lUDUQD WLOO I|UGMXS  
DUEHWDUH UHNU\WHUDV   I|U I|UGMXSQLQJVNXU RFK |YHUVLNWV QLQJVNXUVHUQD XWELOGDV  
    VHUQDV DUEHWVJUXSSHU NXUVHUQD XWELOGDV    
8WELOGQLQJHQ   gYHUVLNWVNXUVHQ *UXQG RFK |YHU )|UGMXSQLQJVNXUVHUQD  
I|UEHUHGV   VDPPDQVWlOOV VLNWVNXUVHUQD JHQRPI|UV  
      JHQRPI|UV    
           
.XUVPDWHULDOHW WLOO   /lUDUKDQGOHGQLQJHQ .XUVPDWHULDOHW WLOO    
JUXQGNXUVHQ VNULYV   I|U DQSDVVDGH I|UGMXSQLQJV    
    YDULDQWHU DY |YHU NXUVHUQD VNULYV    
    VLNWVNXUVHQ      

6DPPDQWDJHW LQQHElU WLGSODQHQ DWW NRPPLWWpQ KDGH EHK|YW VWDUWD VLWW DUEHWH HWW KDOYnU WLGLJDUH lQ YDG VRP EOHY IDOOHW 'HW H[WUD KDOYnUHW KDGH NXQQDW lJQDV nW UHNU\WHULQJ RFK I|UEHUHGHOVHU PHQ IUDPI|U DOOW nW DWW WD IUDP NRPSHQGLHW WLOO JUXQGNXUVHQ

*UXQGNXUVNRPSHQGLHW KDGH XQGHU DQGUD KDOYnUHW NXQQDW DQYlQGDV WLOO DWW IRUWELOGD GH DUEHWVJUXSSHU VRP VNXOOH WD IUDP NRPSHQGLHUQD WLOO I|UGMXSQLQJVNXUVHUQD 3n Vn VlWW KDGH PDQ InWW HQ WLGLJ nWHUNRSSOLQJ Sn JUXQGNXUVPDWHULDOHW JLYLW DUEHWVJUXSSHUQD HQ KHOKHWVELOG DY ODJVWLIW QLQJHQ RFK lYHQ JLYLW GHP XQGHUODJ I|U DWW DYJ|UD KXU I|UGMXSQLQJV NXUVHUQD VNXOOH I|UGMXSD JUXQGNXUVHQ

8QGHU DQGUD KDOYnUHW VNXOOH lYHQ HQ VDPPDQVWlOOQLQJ DY |YHUVLNWV NXUVHQ XWLIUnQ JUXQGNXUVPDWHULDOHW NXQQDW J|UDV /lUDUKDQGOHGQLQJDU WLOO |YHUVLNWVNXUVHQ I|U ROLND PnOJUXSSHU KDGH NXQQDW WDV IUDP

, E|UMDQ Sn KDOYnUHW LQQDQ ODJHQ WUlGHU L NUDIW NXQGH OlUDUXW ELOGQLQJDUQD I|U JUXQGNXUV RFK |YHUVLNWVNXUV JHQRPI|UWV .RUW GlUHIWHU NXQGH GH UHJLRQDOD JUXQG RFK |YHUVLNWVNXUVHUQD KnOOLWV Vn DWW PHU SDUWHQ DY HOHYHUQD KDU InWW GHQ JUXQGOlJJDQGH NXQVNDSHQ LQQDQ ODJHQ WUlGGH L NUDIW

cUHW HIWHU ODJHQV LNUDIWWUlGDQGH NXQGH KHOW KD lJQDWV nW I|UGMXS QLQJVNXUVHUQD I|U OlUDUH RFK HOHYHU

(Q JUXQGOlJJDQGH I|UXWVlWWQLQJ I|U DWW WLGSODQHQ L ILJXU VND YDUD P|MOLJ lU DWW UHJHULQJHQ IDWWDU EHVOXW RP XWELOGQLQJHQ L WLOOUlFNOLJW JRG WLG 6n EOHY LQWH IDOOHW GHQQD JnQJ (Q DQQDQ I|UXWVlWWQLQJ lU DWW

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

ODJWH[WHQ ILQQV WLOOJlQJOLJ 5LNVGDJHQ IDWWDGH EHVOXW RP PLOM|EDONHQ L MXQL GYV VHQW XQGHU GHW DQGUD NYDUWDOHW L ILJXU $UEHWHW PHG JUXQGNXUVHQ L 0LOM|EDONVXWELOGQLQJHQ EDVHUDGHV GlUI|U IUlPVW Sn ODJ I|UVODJHW RFK SURSRVLWLRQHQ 1\D ODJDU GlU PDQ KDU DPELWLRQHQ DWW XW ELOGD WXVHQWDOV WMlQVWHPlQ RFK SROLWLNHU I|UH LNUDIWWUlGDQGHW E|U GlUI|U KHOVW KD EHVOXWDWV DY ULNVGDJHQ PLQVW HWW nU RFK KHOVW HWW RFK HWW KDOYW nU I|UH LNUDIWWUlGDQGHW

(NRQRPL

'HQ DQGUD VWDUND EHJUlQVQLQJHQ I|U NRPPLWWpQ YDU DWW EXGJHWHQ YDU SnWDJOLJW PLQGUH lQ YLG 3%/ XWELOGQLQJHQ 0DQ O|VWH GHWWD JHQRP DWW DYJUlQVD VLWW XSSGUDJ Vn DWW LQIRUPDWLRQ RFK XWELOGQLQJ WLOO VPnI|UHWDJ RFK DOOPlQKHW SULRULWHUDGHV ERUW , LQWHUYMXHU PHG GH VRP YDULW PHG RP EnGH 3%/ RFK 0LOM|EDONVXWELOGQLQJDUQD IUDPNRPPHU GHW lYHQ DWW RP NRVWQDGHUQD OnJ Sn HQ JHQHUHOOW K|JUH QLYn L 3%/ XWELOGQLQJHQ

(WW DQQDW VlWW DWW KDQWHUD GH EHJUlQVDGH HNRQRPLVND UHVXUVHUQD YDU JHQRP DWW P\QGLJKHWHUQD ILFN ORY DWW EHWDOD O|Q I|U GH PHGDUEHWDUH VRP GHOWRJ L DUEHWHW PHG NXUVPDWHULDO (QGDVW L QnJRW IDOO IUnQJLFN PDQ GHQQD SULQFLS 6OXWOLJHQ KDU NRVWQDGHUQD I|U GH UHJLRQDOD NXUVHUQD KHOW EHNRVWDWV DY NXUVDYJLIWHU RFK DY DWW OlUDUQD RFK OlUDUQDV DUEHWVJLYDUH HUKnOOLW HQ UHODWLYW EO\JVDP HUVlWWQLQJ

.RPPLWWpQV HNRQRPL KDU WYn JnQJHU NRPPLW DWW I|UlQGUDV L SRVLWLY ULNWQLQJ XQGHU DUEHWHWV JnQJ , GHQ XUVSUXQJOLJD EXGJHWHQ KDGH PDQ LQWH KDQWHUDW PRPVHQ NRUUHNW 1lU GHWWD XSSWlFNWHV ILFN PDQ QnJRW VW|UUH UHVXUVHU DWW U|UD VLJ PHG RFK YDOGH DWW XW|ND DQWDOHW SODWVHU Sn OlUDUXWELOGQLQJDUQD

'HQ ULNWLJW VWRUD EXGJHWI|UElWWULQJ I|U NRPPLWWpQ NXQGH NRQVWDWHUDV XQGHU YnUHQ QlU IUDPJnQJHQ L I|UVlOMQLQJHQ DY NXUVNRPSHQGLHUQD VWRG NODU 7DFN YDUH HQ QHWWRLQWlNW Sn 0NU KDU NRPPLWWpQ NXQQDW JHQRPI|UD QnJUD LQIRUPDWLRQVVDWVQLQJDU LQRP RPUnGHQ VRP PDQ XU VSUXQJOLJHQ KDGH SULRULWHUDW ERUW

'HW lU VDQQROLNW DOOWI|U ULVNDEHOW DWW EXGJHWHUD PHG VWRUD I|UVlOM QLQJVLQWlNWHU (UIDUHQKHWHUQD IUnQ 0LOM|EDONVXWELOGQLQJHQ LOOXVWHUDU LVWlOOHW DWW HYHQWXHOOD |YHUVNRWW L I|UVlOMQLQJVLQWlNWHUQD P\FNHW YlO NDQ DQYlQGDV I|U VlUVNLOGD LQIRUPDWLRQVVDWVQLQJDU (WW I|UVODJ WLOO I|UElWW ULQJ VNXOOH GlUI|U YDUD DWW NRPPLWWpQ WLGLJDUH KDGH I|UEHUHWW VLJ Sn YLOND LQIRUPDWLRQVLQVDWVHU VRP VNXOOH NXQQD J|UDV L KlQGHOVH DY VWRUD I|UVlOMQLQJVLQWlNWHU .RPPLWWpQ KDGH L Vn IDOO VDQQROLNW NRPPLW OlQJUH L

,QUHJLD

.RQVXOWUDSSRUW WLOO 628

DUEHWHW PHG DWW LQIRUPHUD DOOPlQKHW RFK VPnI|UHWDJ lQ YDG PDQ KDU KXQQLW PHG KLWWLOOV

'HW ILQQV lYHQ HQ HNRQRPLVN DVSHNW DY GHQ I|UHVODJQD WLGSODQHQ L ILJXU *HQRP DWW JUXQGNXUVHUQD I|U HOHYHUQD KLQQHU DWW KnOODV I|UH ODJHQV LNUDIWWUlGDQGH EHK|YHU |YHULQWDJHW DY NXUVGHOWDJDUH WLOO OlUDU NXUVHUQD RFK VRP LQWH DYVnJ DWW EOL OlUDUH LQWH EOL OLND VWRU VRP EOHY IDOOHW L 0LOM|EDONVXWELOGQLQJHQ 'lUPHG NDQ GHQ |NQLQJ L WRWDONRVW QDGHQ VRP XSSVWnU DY HQ WLGLJDUH VWDUW I|U XWELOGQLQJHQ WLOO YLVV GHO NRPSHQVHUDV DY OlJUH NRVWQDGHU I|U OlUDUNXUVHUQD

0nOJUXSSHU PDUNQDGVI|ULQJ RFK LQIRUPDWLRQ

.RPPLWWpQV XSSGHOQLQJ DY GH WLOOWlQNWD HOHYHUQD NRP DWW J|UDV L WYn PnOJUXSSHU (Q PnOJUXSS YDU I|UKnOODQGHYLV KRPRJHQ GYV WMlQVWHPlQ L NRPPXQHU RFK OlQVVW\UHOVHU VRP DUEHWDU PHG KDQGOlJJQLQJ VRP KDU DQNQ\WQLQJ WLOO PLOM|IUnJRU 'HQ DQGUD YDU GHVWR KHWHURJHQDUH RFK EH VWRG DY SROLWLNHU I|UHWDJDUH RFK FKHIHU L RIIHQWOLJ I|UYDOWQLQJ 8WLIUnQ GHQQD XSSGHOQLQJ VNDSDGH NRPPLWWpQ WYn ROLND NXUVYlJDU

'HQ KHWHURJHQD PnOJUXSSHQ YDU WlQNW DWW Jn HQ JHPHQVDP HQGDJV NXUV /lUDUQDV HUIDUHQKHW KDU YLVDW DWW GHWWD KDU YDULW HQ VYnU NXUV DWW KnOOD HIWHUVRP HOHYHUQD KDU KDIW Vn ROLND I|UXWVlWWQLQJDU (OHYHUQD KDU VDPWLGLJW KDIW HQ JHPHQVDP QlPQDUH L DWW PnQJD LQWH KDU YDULW LQWUHVVH UDGH DY GHQ KHOKHW NULQJ PLOM|EDONHQ VRP NRPPLWWpQ YHODW I|UPHGOD , HIWHUKDQG NDQ PDQ DOOWVn NRQVWDWHUD DWW |YHUVLNWVNXUVHQ ERUGH KD IXQQLWV L QnJUD In YDULDQWHU DQSDVVDGH HIWHU I|OMDQGH KXYXGVDNOLJD PnOJUXSSHU

œ3ROLWLNHU

œ)|UHWDJDUH LQNOXVLYH NRPPXQDOD YHUNVDPKHWVXW|YDUH

œ&KHIHU LQRP RIIHQWOLJD P\QGLJKHWHU LQNOXVLYH NRPPXQDOD I|UYDOW QLQJVFKHIHU

9DULDQWHUQD NXQGH KD EHVWnWW DY OlPSOLJD XUYDO DY VLGRU XU |YHUVLNWV NXUV RFK JUXQGNXUV NRPSOHWWHUDW PHG HQ OlUDUKDQGOHGQLQJ VRP OHGHU LQ OlUDUQD Sn GH IUnJRU VRP lU PHVW LQWUHVVDQWD I|U GH WUH PnOJUXSSHUQD

, NXUVXWYlUGHULQJDU KDU GHW lYHQ YLVDW VLJ DWW HOHYHU IUnQ FHQWUDOD VWDWOLJD P\QGLJKHWHU KDU XSSIDWWDW DWW NXUVHQV XSSOlJJQLQJ IUlPVW KDU DQSDVVDWV WLOO NRPPXQHU RFK OlQVVW\UHOVHU , OLNKHW PHG PnQJD DQGUD GHOWDJDUH L |YHUVLNWVNXUVHQ KDU PDQ IUlPVW YDULW LQWUHVVHUDGH DY HQ NXUV RP KXU PLOM|EDONHQ EHU|U GHQ HJQD YHUNVDPKHWHQ $WW DQSDVVD PDWH ULDOHW WLOO YDU RFK HQ DY GH EHU|UGD P\QGLJKHWHUQD YRUH VDQQROLNW QnJRW

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

|YHUDPELW|VW (WW I|UVODJ WLOO I|UElWWULQJ VNXOOH GlUI|U YDUD DWW NRP PLWWpQ KDGH HUEMXGLW EHU|UGD FHQWUDOD P\QGLJKHWHU HWW HQGDJV VHPLQDULXP GlU PDQ WLOOVDPPDQV PHG H[SHUWHU RFK OlUDUH IUnQ 0LOM| EDONVXWELOGQLQJHQ DUEHWDGH VLJ IUDP WLOO KXU HQ HQGDJVNXUV I|U P\QGLJ KHWHQV SHUVRQDO NXQGH XWIRUPDV 'lUHIWHU NXQGH P\QGLJKHWHQ JHQRP I|UD XWELOGQLQJHQ LQWHUQW

6lUVNLOW VPDOW LQWUHVVH DY LQIRUPDWLRQ RP PLOM|EDONHQ YHUNDU I|UH WDJHQ KD KDIW 8W|YHU DWW J|UD HWW XUYDO XU NRPSHQGLHUQD KDGH GHW VDQQROLNW lYHQ YDULW EHIRJDW PHG EUDQVFKYLV LQIRUPDWLRQ VlUVNLOW XW IRUPDG I|U GH VPnI|UHWDJDUWlWD EUDQVFKHUQD VRP nNHULHU PnODUH NHPWYlWWDU IULV|UHU VRODULHU P P 3n Vn VlWW KDGH NRPPLWWpQ NXQQDW Qn XW lYHQ WLOO VPnI|UHWDJHQ L VW|UUH XWVWUlFNQLQJ

)|U DWW lYHQ JH Q\VWDUWDQGH I|UHWDJ LQIRUPDWLRQ KDGH NRPPLWWpQ NXQQDW WD NRQWDNW PHG 3DWHQW RFK UHJLVWUHULQJVYHUNHW I|U XWGHOQLQJ DY LQIRUPDWLRQVEODG 6DQQROLNW lU Q\VWDUWDGH I|UHWDJ GHQ PnOJUXSS L QlULQJVOLYHW VRP lU PHVW NlQVOLJD I|U VW|UQLQJDU Sn JUXQG DY Q\ ODJVWLIWQLQJ 1\I|UHWDJDUHQ KDU RIWD PHU lQ IXOOW XSS PHG DWW VWDUWD I|UHWDJHW 'HW NDQ GHVVXWRP YDUD HNRQRPLVNW RFK SV\NRORJLVNW NlQQ EDUW DWW W H[ In HQ PLOM|VDQNWLRQVDYJLIW VRP SnI|UV DY DGPLQLVWUDWLYW VNlO L E|UMDQ DY HQ Q\I|UHWDJDUHV YHUNVDPKHW

7Yn YLNWLJD PnOJUXSSHU LQRP NRPPXQHUQD KDU QnWWV HQGDVW L EH JUlQVDG RPIDWWQLQJ DY 0LOM|EDONVXWELOGQLQJHQ NRPPXQDOD I|UYDOW QLQJVFKHIHU RFK GH NRPPXQDOD YHUNVDPKHWVXW|YDUQD , HIWHUKDQG NDQ PDQ NRQVWDWHUD DWW NRPPLWWpQ W\GOLJDUH KDGH NXQQDW LQIRUPHUD GH UHJLRQDOD NXUVDQRUGQDUQD RP YLOND SHULIHUD PHQ lQGn YLNWLJD PnO JUXSSHU VRP VlUVNLOW NXQGH EHK|YD EHDUEHWDV PHG ULNWDG PDUNQDGV I|ULQJ

, XWYlUGHULQJHQ KDU GHW IUDPNRPPLW V\QSXQNWHU Sn DWW GH UHJLRQDOD NXUVDQRUGQDUQDV LQIRUPDWLRQVPDWHULDO LQWH DOOWLG KDU YDULW WLOOUlFNOLJW YlJOHGDQGH I|U HOHYHUQDV YDO DY NXUV $OOD UHJLRQDOD NXUVDQRUGQDUH KDU KDIW L XSSJLIW DWW PDUNQDGVI|UD NXUVHUQD WLOO UlWW PnOJUXSSHU 'HW KDGH GlUI|U VDQQROLNW YDULW HIIHNWLYDUH RP NRPPLWWpQ KDGH WDJLW IUDP HWW I|U VODJ WLOO LQIRUPDWLRQVPDWHULDO VRP GH UHJLRQDOD NXUVDQRUGQDUH NXQGH XWJn IUnQ (WW VnGDQW PDWHULDO VNXOOH L Vn IDOO XWIRUPDWV I|U DWW W\GOLJJ|UD YLOND PnOJUXSSHU VRP VNXOOH Jn Sn YLOND NXUVHU

7XURUGQLQJHQ KRV JUXQGNXUV RFK |YHUVLNWVNXUV KDU LQWH IXQJHUDW WLOO IUHGVVWlOODQGH L DOOD UHJLRQHU (Q I|UElWWULQJ KDGH VDQQROLNW NXQQDW XSSQnV RP NRPPLWWpQ LQIRUPHUDW GH UHJLRQDOD NXUVDQRUGQDUQD RP DWW JUXQGNXUVHU RFK |YHUVLNWVNXUVHU VND KnOODV SDUDOOHOOW 3n Vn VlWW KDU HOHYHU VRP XSSWlFNHU DWW |YHUVLNWVNXUVHQ lU I|U |YHUVLNWOLJ P|MOLJKHW DWW lYHQ Jn JUXQGNXUVHQ

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

8SSOlJJQLQJ

'HQ SHGDJRJLVND XSSOlJJQLQJHQ L 0LOM|EDONVXWELOGQLQJHQ KDU VDP PDQWDJHW IXQJHUDW P\FNHW EUD .RUYVWRSSQLQJHQ L JUXQGNXUVHQ NRPEL QHUDG PHG I|UGMXSQLQJVNXUVHUQDV UHSHWLWLRQHU JUXSSDUEHWHQ RP H[HP SHO RFK UHGRYLVDQGH GLVNXVVLRQHU KDU ELOGDW HQ EUD KHOKHW , HIWHUKDQG NDQ PDQ GRFN NRQVWDWHUD DWW NRPPLWWpQ RFK DUEHWVJUXSSHUQD NRP IUDP WLOO GHQQD XSSOlJJQLQJ QnJRW VHQW .YDOLWHWHQ L QnJUD I|UGMXSQLQJVNRP SHQGLHU RFK L |YQLQJVH[HPSOHQ NRP L YLVV XWVWUlFNQLQJ DWW EOL OLGDQGH DY WLGVEULVWHQ 6OXWVDWVHQ EOLU DWW HQ DY NRPPLWWpQV YLNWLJDVWH XSSJLIWHU lU DWW VQDEEW KLWWD HQ SHGDJRJLVNW IXQJHUDQGH KHOKHW I|U GH ROLND PnO JUXSSHUQD

'HW HQVNLOW YLNWLJDVWH I|UVODJHW WLOO I|UElWWULQJ EHVWnU DY DWW JH NRP PLWWpQ ElWWUH I|UXWVlWWQLQJDU 7LGVEULVWHQ KDU PHGI|UW DWW NRPPLWWpQ RFK DUEHWVJUXSSHUQD KDU DUEHWDW XQGHU VWRU SUHVV )|OMDQGH I|UElWWULQJDU IUDPVWnU VRP YLNWLJD

œ,QOHG DUEHWHW HWW KDOYnU WLGLJDUH

œ*|U JUXQGNXUVNRPSHQGLHW I|UVW RFK XWELOGD |YULJD DUEHWVJUXSSHU LQQDQ GHVVD E|UMDU PHG I|UGMXSQLQJVNXUVHUQD

œ7D IUDP OlUDUKDQGOHGQLQJDU I|U RULHQWHULQJVNXUVHQ L QnJUD In YDULDQWHU I|U DWW JH OlUDUQD VW|G L DWW PnOJUXSSVDQSDVVD NXUVHQ

œ+nOO VlUVNLOGD OlUDUNXUVHU I|U RULHQWHULQJVNXUVHUQD GlU IRNXV OLJJHU Sn PnOJUXSSVDQSDVVQLQJ

.XUVPDWHULDO

bYHQ RP 0LOM|EDONVXWELOGQLQJHQ KDGH JLYLWV HWW KDOYW nUV OlQJUH I|U EHUHGHOVHWLG Vn KDGH XWU\PPHW I|U PLVVWDJ IRUWIDUDQGH YDULW OLWHW

.RPPLWWpQV XSSI|OMQLQJ RFK VW\UQLQJ DY DUEHWVJUXSSHUQDV DUEHWH PHG NXUVPDWHULDOHW lU GlUI|U P\FNHW YLNWLJ , 0LOM|EDONVXWELOGQLQJHQ EHVO|W NRPPLWWpQ DWW WD VWlOOQLQJ WLOO PDWHULDOHW IUnQ DUEHWVJUXSSHUQD I|UVW QlU GH IDQQV VRP IXOOVWlQGLJD XWNDVW 6RP HQ HIIHNW DY GHWWD NRP I|UGMXS QLQJVNRPSHQGLHUQD DWW EOL SnWDJOLJW ROLND L VLQ XWIRUPQLQJ DYVHHQGH VWUXNWXU RFK OD\RXW 'H SUREOHP VRP IDQQV L DUEHWHW PHG HQ DY I|UGMXS QLQJVNXUVHUQD InQJDGHV LQWH KHOOHU XSS WLOOUlFNOLJW WLGLJW (WW I|UVODJ WLOO I|UElWWULQJ VNXOOH YDUD DWW NRPPLWWpQ WLGLJDUH KDGH EHJlUW UHGRYLVQLQJ DY UHVXOWDWHW L DUEHWVJUXSSHUQD

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

(UIDUHQKHWHUQD IUnQ 0LOM|EDONVXWELOGQLQJHQ YLVDU GHVVXWRP DWW GHW

XSSVWnU VlUVNLOGD VYnULJKHWHU L GH GHODU DY PDWHULDOHW VRP KDU NQ\W

QLQJDU WLOO DQGUD ODJDU 'HW YDU VDQQROLNW LQWH HQ WLOOIlOOLJKHW DWW DUEHWV

JUXSSHQ I|U NRPSHQGLHW WLOO NXUVHQ 0LOM|EDONHQ RFK GHQ I\VLVND SOD

QHULQJHQ NRP DWW In VW|UVW SUREOHP 'HQ UHGDQ VWRUD NRPSOH[LWHWHQ L

PLOM|EDONHQ EOHY KlU lQQX VW|UUH JHQRP VDPU|UHW PHG SODQ RFK E\JJ

ODJHQ YlJODJHQ RFK MlUQYlJVODJHQ )|UGMXSQLQJVNXUVHU DY GHQQD W\S

EHK|YHU VDQQROLNW I|UKnOODQGHYLV VWRU XSSPlUNVDPKHW IUnQ NRPPLWWpQ

DYVHHQGH XSSI|OMQLQJ RFK VW\UQLQJ

3n WYn DY I|UGMXSQLQJVNXUVHUQD KDU GHW NRPPLW OLNDUWDGH V\QSXQNWHU

IUnQ OlUDUQD 'HW JlOOHU $WW DQYlQGD PLOM|EDONHQ RFK 0LOM|EDONHQ RFK

GHQ I\VLVND SODQHULQJHQ /lUDUQD PHQDU DWW LQQHKnOO RFK H[HPSHO LQWH

ULNWLJW KDU KDPQDW Sn GHQ NRPPXQDOD KDQGOlJJDUHQV QLYn ,VWlOOHW KDU

NXUVHUQD YDULW PHU DQSDVVDGH WLOO PHU MXULGLVNW EHYDQGUDGH HOHYHU 0|M

OLJHQ VNXOOH GHWWD NXQQDW KD SnYHUNDWV JHQRP DWW DUEHWVJUXSSHUQD L

VW|UUH XWVWUlFNQLQJ lYHQ KDGH KDIW NRPPXQDOD KDQGOlJJDUH VRP H[SHU

WHU

(OHYHU RFK OlUDUH KDU lYHQ I|UW IUDP I|UVODJ WLOO I|UElWWULQJDU L ROLND GHWDOM IUnJRU

œ*|U |YQLQJVH[HPSOHQ PHU JHQRPDUEHWDGH 6NULY JlUQD I|UEHUHGGDVYDU Sn H[HPSOHQ VRP NDQ GHODV XW QlU NXUVHQ lU VOXW 3RlQJWHUD DWWVYDUHQ HQGDVW SHNDU Sn HQ DY IOHUD WlQNEDUD O|VQLQJDU

œ6H WLOO DWW GHW ILQQV W\GOLJD NRSSOLQJDU PHOODQ |YQLQJVH[HPSHO RFK NRPSHQGLHU

œ+D IOHU W\SLVND lUHQGHQ EODQG |YQLQJVH[HPSOHQ RFK IlUUH H[HPSHO VRP VND LOOXVWUHUD VYnULJKHWHU

œ*|U VDNUHJLVWHU lYHQ L I|UGMXSQLQJVNRPSHQGLHUQD

œ6NLFND XW XWELOGQLQJVPDWHULDOHW WLOO HOHYHUQD HQ YHFND I|UH NXUVHQ 'HW ILQQV PnQJD DPELWL|VD HOHYHU VRP JlUQD OlVHU Sn I|UH 6lUVNLOW JlOOHU GHWWD OlUDUXWELOGQLQJHQ

œ%nGH ODJ RFK I|URUGQLQJDU EHK|YHU ILQQDV Sn NXUVHUQD 8WJn LQWH IUnQ DWW HOHYHUQD KDU GHW PHG VLJ

/lUDUH

5HNU\WHULQJHQ DY OlUDUH KDU KDQWHUDWV DY GH UHJLRQDOD NXUVDQRUGQDUQD 'HWWD KDU L KXYXGVDN IXQJHUDW EUD , HOHYHQNlWHQ KDU GRFN NXQQDW

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

NRQVWDWHUDV DWW KlOIWHQ DY GH FKHIHU Sn OlQVVW\UHOVHUQD VRP YDULW OlUDUH DOGULJ NRP DWW Jn QnJRQ OlUDUNXUV 8WYlUGHULQJHQV VOXWVDWV lU DWW GHW KDU IXQQLWV EHW\GOLJW VW|UUH EHKRY DY DWW KD OlQVVW\UHOHUQDV FKHIHU PHG VRP OlUDUH lQ YDG GH UHJLRQDOD NXUVDQRUGQDUQD XUVSUXQJOLJHQ SODQHUDGH I|U (Q OlUGRP LQI|U IUDPWLGHQ lU GlUPHG DWW NRPPLWWpQ I|UXWVHU YLOND EH IDWWQLQJVKDYDUH VRP VlUVNLOW NDQ NRPPD DWW EHK|YDV VRP OlUDUH RFK DWW PDQ WLGLJW LQIRUPHUDU GH UHJLRQDOD NXUVDQRUGQDUQD RP GHWWD

, XWYlUGHULQJVVHPLQDULHUQD KDU GHW IUDPNRPPLW DWW IUnJDQ RP HUVlWW QLQJ I|U OlUDUQDV PHGYHUNDQ KDU YDULW RNODU L PnQJD UHJLRQHU (WW I|U VODJ WLOO I|UElWWULQJ lU DWW NRPPLWWpQ JHU GH UHJLRQDOD NXUVDQRUGQDUQD HWW InWDO H[HPSHO Sn KXU HUVlWWQLQJHQ NDQ KDQWHUDV RFK WLGLJW EHJlU LQ EHVNHG RP KXU PDQ WlQNHU J|UD .RPPLWWpQ NDQ VHGDQ EH GH UHJLRQDOD NXUVDQRUGQDUH DWW W\GOLJW IUDPI|UD GHWWD WLOO OlUDUQD RFK WLOO DUEHWV JLYDUQD

)UnQ OlUDUQD KDU lYHQ NRPPLW V\QSXQNWHU Sn KXU OlUDUXWELOGQLQJHQ KDU JHQRPI|UWV )|U DWW ElWWUH DQSDVVD OlUDUXWELOGQLQJHQV LQOHGQLQJ WLOO OlUDUQDV |QVNHPnO KDU I|OMDQGH I|UVODJ IUDPI|UWV Sn XWYlUGHULQJV VHPLQDULHUQD

œ,QOHG PHG HQ LQWURGXNWLRQVGDJ GlU W\QJGSXQNWHQ OLJJHU L HQ |YHUVLNW RP GHQ Q\D ODJVWLIWQLQJHQ

œ*HQRPI|U JUXQGNXUVHQ Vn VRP GHQ lU WlQNW DWW KnOODV I|U HOHYHUQD

œ+nOO HQ XSSI|OMQLQJVGDJ Vn DWW OlUDUQD NDQ P|WDV RFK GLVNXWHUD KXU PDQ NDQ KDQWHUD XWELOGQLQJVVLWXDWLRQHQ RFK I|U DWW GLVNXWHUD IUnJRU RP WLOOlPSQLQJHQ DY ODJHQ

0nQJD OlUDUH YLWWQDGH GHVVXWRP RP DWW GHW KDGH YDULW VYnUW DWW RPVlWWD OlUGRPDUQD Sn OlUDUNXUVHQ WLOO KXU PDQ VMlOY VNXOOH DJHUD VRP OlUDUH (WW I|UVODJ VNXOOH GlUI|U YDUD DWW NRPPLWWpQ NXQGH VW|WWD OlUDUQD PHU JHQRP DWW KnOOD HQ MRXUKDYDQGH OlUDUH WLOOJlQJOLJ SHU WHOHIRQ RFK HSRVW (WW DQQDW I|UVODJ VNXOOH YDUD DWW RUGQD HQ P|MOLJKHW DWW FKDWWD Sn 0LOM|EDONVXWELOGQLQJHQ KHPVLGD 3n Vn VlWW NXQGH OlUDUQD VW|WWD YDU DQGUD

%nGH L XWYlUGHULQJVVHPLQDULHUQD RFK NXUVXWYlUGHULQJDUQD IUnQ OlUDUNXUVHUQD KDU GHW IUDPNRPPLW DWW OlUDUQD Sn OlUDUNXUVHUQD KDU KDIW EODQGDG SHGDJRJLVN I|UPnJD (WW I|UVODJ WLOO I|UElWWULQJ lU DWW NRP PLWWpQ lJQDU VW|UUH RPVRUJ nW XUYDOHW DY OlUDUH Sn OlUDUNXUVHUQD

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

6OXWVDWVHU

œ.RPPLWWpQV DUEHWH ERUGH KD LQOHWWV HWW KDOYnU WLGLJDUH $OWHUQDWLYW ERUGH ODJHQV LNUDIWWUlGDQGH KD VNMXWLWV IUDP HWW KDOYnU

œ.RPPLWWpQ E|U I|UEHUHGD VLJ Sn KXU RYlQWDW VWRUD I|UVlOMQLQJVLQWlNWHU NDQ DQYlQGDV I|U LQIRUPDWLRQ RP EDONHQ QHGSULRULWHUDGH PnOJUXSSHU

œgYHUVLNWVNXUVHQ E|U DQSDVVDV WLOO ROLND PnOJUXSSHU JHQRP ROLND OlUDUKDQGOHGQLQJDU +nOO VlUVNLOGD OlUDUNXUVHU I|U |YHUVLNWVNXUVHUQD

œ*HQRP VHPLQDULHU NDQ FHQWUDOD P\QGLJKHWHU JHV VW|G DWW DQSDVVD RFK VMlOYD KnOOD |YHUVLNWVNXUVHUQD I|U HJHQ SHUVRQDO

œ%UDQVFKYLV LQIRUPDWLRQ VlUVNLOW XWIRUPDG I|U GH VPnI|UHWDJDUWlWD EUDQVFKHUQD VRP nNHULHU PnODUH NHPWYlWWDU IULV|UHU VRODULHU EH K|YHU WDV IUDP I|U DWW L |NDG XWVWUlFNQLQJ Qn VPnI|UHWDJHQ PHG LQ IRUPDWLRQ

œ3DWHQW RFK UHJLVWUHULQJVYHUNHW NDQ NRQWDNWDV I|U HQ GLVNXVVLRQ RP P|MOLJKHWHQ DWW VSULGD HQNHO LQIRUPDWLRQ WLOO Q\VWDUWDGH I|UHWDJ

œ.RPPLWWpQ E|U JH GH UHJLRQDOD NXUVDQRUGQDUQD PHU VW|G JHQRP DWW WD IUDP HQKHWOLJW XQGHUODJ I|U PDUNQDGVI|ULQJ RFK SHND Sn SHULIHUD PHQ YLNWLJD PnOJUXSSHU

œ7XURUGQLQJHQ PHOODQ JUXQGNXUV RFK |YHUVLNWVNXUV EHK|YHU NODUJ|UDV DY NRPPLWWpQ

œ.RPPLWWpQ E|U VW\UD GH UHJLRQDOD NXUVDQRUGQDUQD Vn DWW HUVlWWQLQJHQ WLOO DUEHWVJLYDUH RFK OlUDUH NODUJ|UV WLGLJW

œ*|U JUXQGNXUVNRPSHQGLHW I|UVW RFK XWELOGD |YULJD DUEHWVJUXSSHU LQQDQ GHVVD E|UMDU PHG I|UGMXSQLQJVNXUVHUQD

œ.RPPLWWpQ E|U I|OMD RFK VW\UD DUEHWHW PHG NRPSHQGLHUQD PHU XWWDODW

œ+D PHG NRPPXQDOW IRWIRON L DUEHWJUXSSHUQD I|U NRPSHQGLHUQD L VW|UUH XWVWUlFNQLQJ Vn DWW QLYnQ LQWH EOLU I|U MXULGLVNW DYDQFHUDG

œ*|U |YQLQJVH[HPSOHQ PHU JHQRPDUEHWDGH RFK VH WLOO DWW GHW ILQQV W\GOLJD NRSSOLQJDU PHOODQ H[HPSOHQ RFK NXUVNRPSHQGLHUQD

)RUWVDWW LQIRUPDWLRQ RFK XWELOGQLQJ

0LOM|EDONVNRPPLWWpQ lU SODQHUDG DWW XSSK|UD YLG XWJnQJHQ DY

)UDPWLGD XWELOGQLQJ RFK LQIRUPDWLRQ NRPPHU GlUI|U DWW EHGULYDV XWDQ VW|G DY NRPPLWWpQ )|U DWW I|UEHUHGD |YHUOlPQDQGHW DY DQVYDUHW WLOO DQGUD DNW|UHU KDU NRPPLWWpQ EO D OnWLW XWYlUGHULQJHQ VWlOOD IUnJRU WLOO OlUDUH NXUVDQRUGQDUH RFK HOHYHU RP KXU PDQ VHU Sn IUDPWLGD EHKRY DY XWELOGQLQJ RFK LQIRUPDWLRQ

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

)RUWVDWW PLOM|EDONVXWELOGQLQJ

%HKRYHW DY IRUWVDWW XWELOGQLQJ SRlQJWHUDV DY L VWRUW VHWW VDPWOLJD WLOO

IUnJDGH 6RP WLGLJDUH NRQVWDWHUDWV ILQQV GHW QnJUD PnOJUXSSHU VRP EH

K|YHU XWELOGQLQJ UHGDQ LGDJ RFK VRP VNXOOH NXQQD In GHW LQRP UDPHQ

I|U 0LOM|EDONVXWELOGQLQJHQ

œ.RPPXQDOD I|UYDOWQLQJVFKHIHU

œ.RPPXQDOD YHUNVDPKHWVXW|YDUH

œ.RPPXQDOD PLOM|SROLWLNHU XSSVNDWWQLQJVYLV KlOIWHQ KDU XWELOGDWV

)|U GHVVD PnOJUXSSHU OlPSDU VLJ |YHUVLNWVNXUVHQ RP HQ NXUVGDJ ElVW 'HW NUlYV GlUPHG LQJHQ VlUVNLOG LQVDWV Sn QDWLRQHOO QLYn I|U DWW RUGQD GHVVD NXUVHU HIWHUVRP NXUVHUQD OLNVRP WLGLJDUH NDQ RUGQDV UHJLRQDOW

.RPPLWWpQ VNXOOH GRFN NXQQD I|UD HQ GLDORJ PHG NXUVDQRUGQDUQD I|U DWW VH RP GH KDU LQWUHVVH DY DWW YlQGD VLJ VlUVNLOW WLOO GHVVD WUH PnOJUXS SHU 'HW YHUNDU GRFN LQWH WLGVPlVVLJW ULPOLJW DWW QX KLQQD PHG DWW DQ SDVVD |YHUVLNWVNXUVHQ VlUVNLOW WLOO GH WUH PnOJUXSSHUQD

'HW lU LQWH RVDQQROLNW DWW GH NRPPXQDOD YHUNVDPKHWVXW|YDUQD L OLN KHW PHG I|UHWDJDUH KDU |QVNHPnO RP DWW Jn Sn EUDQVFKVSHFLILND NXUVHU

.RPPLWWpQ VNXOOH P|MOLJHQ KLQQD PHG DWW WD NRQWDNW PHG HYHQWXHOOD EUDQVFK HOOHU \UNHVI|UHQLQJDU I|U YDWWHQYHUN YlUPHYHUN JDWX RFK IDVWLJKHWVNRQWRU P P I|U DWW J|UD VSHFLDODQSDVVDGH |YHUVLNWVNXUVHU

, XWYlUGHULQJVVHPLQDULHUQD KDU GHOWDJDUQD YDULW I|UKnOODQGHYLV |YHU HQV RP DWW GHW WUROLJHQ LQWH NRPPHU DWW ILQQDV WLOOUlFNOLJ HIWHUIUnJDQ I|U DWW XSSUHSD JUXQGNXUVHQ HOOHU I|UGMXSQLQJVNXUVHUQD

5HJLRQDOD VHPLQDULHU

2UGI|UDQGHQD L NRPPXQHUQDV PLOM|QlPQGHU VHU IRUWIDUDQGH HWW VWRUW

EHKRY DY XWELOGQLQJ I|U GH NRPPXQDOD PLOM|SROLWLNHUQD 'HQ IRUWELOG

QLQJVPHWRG PDQ PHVW I|UHVSUnNDU lU UHJLRQDOD VHPLQDULHU PHOODQ

WMlQVWHPlQ RFK SROLWLNHU 1nJUD VlUVNLOGD LQVDWVHU Sn QDWLRQHOO QLYn lU

VDQQROLNW LQWH Q|GYlQGLJD HIWHUVRP UHJLRQDOD VHPLQDULHU PHG I|UGHO

DQRUGQDV UHJLRQDOW

%ODQG WMlQVWHPlQQHQ L NRPPXQHUQD ILQQV GHW RIWDVW QnJRQ IRUP DY

IRUPDOLVHUDGH QlWYHUN EDVHUDG Sn \UNHVWLOOK|ULJKHW 0DQ WUlIIDV HWW InWDO

JnQJHU SHU nU RFK XWE\WHU HUIDUHQKHWHU , XWYlUGHULQJVVHPLQDULHUQD KDU

GHW IUDPJnWW DWW QlWYHUNVP|WHQD RIWD KDU HQ VRFLDO RFK LQIRUPHOO NDUDN

WlU 8WYlUGHULQJHQV VOXWVDWV lU DWW ORNDOD RFK UHJLRQDOD QlWYHUN VDQQR

OLNW LQWH OlPSDU VLJ I|U DWW V\VWHPDWLVNW VSULGD LQIRUPDWLRQ

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

6SHFLDOLQULNWDGH NXUVHU

.QDSSW KlOIWHQ DY 0LOM|FKHIHUQD L NRPPXQHUQD DQVHU DWW GHUDV PHG DUEHWDUH UHGDQ LGDJ VNXOOH EHK|YD IRUWELOGDV \WWHUOLJDUH RP PLOM|EDONHQ 'HW lU IUDPI|U DOOW Q\D VSHFLDOLQULNWDGH NXUVHU VHPLQDULHU PDQ HIWHU IUnJDU W H[ RP HQVWDND VDNIUnJRU HOOHU lPQHVRPUnGHQ HOOHU HQVWDND YHUNW\J L EDONHQ W H[ PLOM|NRQVHNYHQVEHVNULYQLQJDU RFK SU|YQLQJVI|U IDUDQGHW

(Q P|MOLJKHW I|U DWW RUGQD VnGDQD VSHFLDOLQULNWDGH NXUVHU lU YLD GH UHJLRQDOD NXUVDQRUGQDUQD 'HVVD KDU GRFN L GH IOHVWD IDOO VYnUW DWW Sn HJHQ KDQG WD IUDP NXUVPDWHULDOHW 0DQ DQVHU VLJ GRFN NXQQD DQRUGQD NXUVHUQD UHJLRQDOW RP NXUVPDWHULDOHW WDV IUDP DY QnJRQ FHQWUDO P\Q GLJKHW

(Q DQQDQ P|MOLJKHW YRUH DWW GH FHQWUDOD P\QGLJKHWHUQD DQRUGQDU XW ELOGQLQJHQ 0DQ EHWRQDU IUnQ NRPPXQHU RFK OlQVVW\UHOVHU DWW VnGDQD NXUVHU L Vn IDOO E|U KnOODV UHJLRQDOW .RPPXQHUQDV XWELOGQLQJVEXGJHWDU lU Vn VPn DWW PDQ LQWH YLOO I|UEUXND HQ SnWDJOLJ GHO DY EXGJHWHQ Sn UHV NRVWQDGHUQD WLOO 6WRFNKROP 'lUWLOO DQVHU PDQ DWW QDWXUYnUGVYHUNHW VRP lU GHQ YLNWLJDVWH FHQWUDOD P\QGLJKHWHQ I|U IUDPWLGD XWELOGQLQJ RP PLOM|EDONHQ KDU DOOW I|U K|JD SULVHU Sn VLQD NXUVHU 0LOM|EDONHQ EHU|U PnQJD FHQWUDOD P\QGLJKHWHU RFK PDQ NRQVWDWHUDU Sn NRPPXQHUQD DWW P\QGLJKHWHUQD KDU ROLND SROLF\ QlU GHW JlOOHU SULVVlWWQLQJ RFK EH QlJHQKHW DWW KnOOD NXUVHU UHJLRQDOW

6DPPDQKnOOHQ I|UIDWWQLQJVLQIRUPDWLRQ

6RP WLGLJDUH IUDPJnWW L XWYlUGHULQJHQ KDU 0LOM|EDONVXWELOGQLQJHQV KHPVLGD WLOOKDQGDKnOOLW ODJWH[W I|URUGQLQJDU lQGULQJDU L ODJ RFK I|U RUGQLQJDU VDPW KHOD XWELOGQLQJVPDWHULDOHW IUnQ 0LOM|EDONVXWELOGQLQJHQ $WW DOOW GHWWD KDU IXQQLWV DWW Qn Sn HWW RFK VDPPD VWlOOH Sn ,QWHUQHW KDU YDULW P\FNHW XSSVNDWWDW HQOLJW GHOWDJDUQD L XWYlUGHULQJVVHPLQDULHUQD 0DQ lU IUnQ NRPPXQHU RFK OlQVVW\UHOVHU P\FNHW DQJHOlJQD RP DWW PRW VYDUDQGH LQIRUPDWLRQ lYHQ L IUDPWLGHQ NDQ QnV VDPODW Sn HWW VWlOOH

gQVNHPnOHW RP HQ KHPVLGD Sn ,QWHUQHW I|U PLOM|KDQGOlJJDUH RP IDWWDU LQWH HQEDUW GHW VRP KLWWLOOV KDU IXQQLWV Sn 0LOM|EDONVXWELOGQLQJHQV KHPVLGD 0DQ |QVNDU VLJ lYHQ IRUWO|SDQGH LQIRUPDWLRQ RP UlWWVIDOO RFK RP P\QGLJKHWHUQDV I|UHVNULIWHU RFK DOOPlQQD UnG Sn HQ RFK VDPPD KHPVLGD

8QGHU XWYlUGHULQJVVHPLQDULHUQD KDU QDWXUYnUGHYHUNHW PHGYHUNDW RFK LQIRUPHUDW RP VLQD SODQHU DWW WLOOKDQGDKnOOD PDWHULDO OLNQDQGH GHW

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

VRP IXQQLWV Sn 0LOM|EDONVXWELOGQLQJHQV KHPVLGD 9HUNHW DYVHU DWW WD |YHU DQVYDUHW I|U GHQ GHO DY LQIRUPDWLRQ VRP EHU|U GHW HJQD YHUNVDP KHWVRPUnGHW , GHQ PnQ |YULJD FHQWUDOD P\QGLJKHWHU OlJJHU XW VLQD GHODU Sn PRWVYDUDQGH VlWW NDQ PDQ OlQND WLOO YDUDQGUD RFK XSSQn DWW EHV|NDUQD HQGDVW EHK|YHU KD HQ DY KHPVLGRUQD VRP VLQ SRUWDO $UEHWHW PHG DWW VDPRUGQD P\QGLJKHWHUQD KDU lQQX LQWH VWDUWDWV

(Q DQQDQ P|MOLJKHW DWW WLOOIUHGVVWlOOD PLOM|KDQGOlJJDUQDV |QVNHPnO lU JHQRP UlWWVLQIRUPDWLRQVV\VWHPHW /DJUXPPHW VRP SODQHUDV YDUD NODUW XQGHU nU 'lU VND PDQ NXQQD Qn DOOD GH W\SHU DY GRNXPHQW VRP lU YLNWLJD XU HWW I|UIDWWQLQJVSHUVSHNWLY 1nJRQ WHPDWLVN LQGHOQLQJ HIWHU lPQHVRPUnGHQ W H[ 0LOM| VRP DYVHU IOHUD EHU|UGD P\QGLJKHWHU ILQQV lQQX LQWH VNLVVHUDG Sn /DJUXPPHWV KHPVLGD

9DUNHQ QDWXUYnUGVYHUNHW HOOHU /DJUXPPHW NRPPHU DWW KD VLQD KHP VLGRU NODUD Vn DWW GH NDQ WD YLG QlU 0LOM|EDONVXWELOGQLQJHQ DYVOXWDV 0HG WDQNH Sn KXU DQJHOlJQD PDQ KDU YDULW IUnQ NRPPXQHU RFK OlQV VW\UHOVHU RP DWW KD PLOM|EDONVLQIRUPDWLRQHQ VDPODG Sn HWW VWlOOH Sn ,QWHUQHW YRUH GHW GlUI|U |QVNYlUW RP 0LOM|EDONVXWELOGQLQJHQV KHPVLGD NXQGH IRUWVlWWD DWW GULYDV WLOOV QDWXUYnUGVYHUNHWV KHPVLGD NDQ WD |YHU

)UnJHOnGD

3n 0LOM|EDONVXWELOGQLQJHQV KHPVLGD ILQQV GHW HQ IUnJHOnGD GlU EH V|NDUH NDQ VWlOOD IUnJRU RFK In VYDU I|UKnOODQGHYLV VQDEEW )UDP WLOO RNWREHU KDGH PDQ EHVYDUDW FD IUnJRU SHU H SRVW 'H IUnJRU VRP PDQ EHG|PHU KDU DOOPlQW LQWUHVVH OlJJV WLOOVDPPDQV PHG VLQD VYDU XW Sn KHPVLGDQ 0LOM|EDONVXWELOGQLQJHQ KDU lYHQ WU\FNW RFK NRVWQDGV IULWW GLVWULEXHUDW HWW XUYDO DY IUnJRU RFK VYDU 8QJHIlU H[HPSODU DY VDPPDQVWlOOQLQJHQ KDU GLVWULEXHUDWV HIWHU EHVWlOOQLQJ Sn KHPVLGDQ

)UnJHOnGDQ KDU YDULW PHVW SRSXOlU EODQG KDQGOlJJDUH L NRPPXQHUQD 'HWWD IUDPJnU EnGH DY NRPPLWWpQV EHV|NVVLIIURU IUnQ IUnJHOnGDQ PHQ lYHQ IUnQ XWYlUGHULQJHQV HOHYHQNlW 0DQ DQVHU DWW P|MOLJKHWHQ DWW VQDEEW VWlOOD IUnJRU RFK VQDEEW In VYDU KDU YDULW P\FNHW YlUGHIXOO

.RPPLWWpQV OHGDP|WHU KDU KDIW ROLND XSSIDWWQLQJ RP GHW OlPSOLJD L DWW KnOOD HQ IUnJHOnGD Sn ,QWHUQHW )|UHVSUnNDUQD PHQDU DWW PDQ JHU HWW YlUGHIXOOW VW|G WLOO GH VRP KnOOHU Sn DWW OlUD VLJ ODJHQ JHQRP DWW W H[ VYDUD Sn IUnJRU RP YDU L ODJ RFK I|URUGQLQJ ROLND VDNHU VWnU VNULYQD RFK YLOND GHODU DY ODJ RFK I|URUGQLQJDU VRP NDQ YDUD WLOOlPSOLJD L ROLND IDOO 8WJnQJVSXQNWHQ KDU YDULW DWW PDQ HQGDVW EHVYDUDU KDQGOlJJQLQJVIUnJRU GlU PDQ L VYDUHQ NDQ KlQYLVD WLOO UHJHOYHUNHWV EHVWlPPHOVHU 0RW VWnQGDUQD KDU PHQDW DWW PDQ L HQ IUnJHOnGD LQWH NDQ JH WLOOUlFNOLJW XW

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

W|PPDQGH RFK L YlUVWD IDOO IHODNWLJD VYDU YLONHW VNXOOH NXQQD J|UD VWDWHQ VNDGHVWnQGVN\OGLJ

, XWYlUGHULQJHQ NDQ NRQVWDWHUDV DWW VWDWOLJD YHUN XSSHQEDUOLJHQ KDU ROLND XSSIDWWQLQJ L IUnJD RP IUnJHOnGRU Sn ,QWHUQHW 1DWXUYnUGVYHUNHW KDU YDULW PRWVWnQGDUH WLOO 0LOM|EDONVXWELOGQLQJHQV IUnJHOnGD $QGUD P\QGLJKHWHU VRP $UEHWDUVN\GGVVW\UHOVHQ KDU GlUHPRW HQ IUnJHOnGD L GULIW Sn GHQ HJQD KHPVLGDQ 'HW IUDPVWnU VRP RP UHJHULQJHQ VNXOOH EHK|YD XWIlUGD HQ SROLF\ WLOO VLQD FHQWUDOD P\QGLJKHWHU DYVHHQGH IUnJHOnGRU (Q VnGDQ SROLF\ VNXOOH EODQG DQQDW WD VWlOOQLQJ WLOO RP IUnJHOnGRU InU I|UHNRPPD RFK L Vn IDOO YLONHQ W\S DY IUnJRU PDQ E|U XQGYLND DWW EHVYDUD I|U DWW PLQLPHUD ULVNHQ I|U UlWWVOLJD SURFHVVHU

1DWXUYnUGVYHUNHWV UHVWULNWLYD V\Q Sn IUnJHOnGRU LQQHElU DWW PDQ LQWH SODQHUDU DWW WD |YHU 0LOM|EDONVXWELOGQLQJHQV IUnJHOnGD ,VWlOOHW SODQHUDU PDQ DWW WD |YHU IUnJRU RFK VYDU IUnQ 0LOM|EDONVXWELOGQLQJHQV IUnJHOnGD RFK VDPPDQVWlOOD GHP Vn DWW GH EOLU PHU DOOPlQJLOWLJD 'HVVD UHGL JHUDGH IUnJRU RFK VYDU lU VHGDQ WlQNWD DWW ILQQDV Sn QDWXUYnUGVYHUNHWV KHPVLGD DWW V|ND EODQG 1nJRQ P|MOLJKHW I|U EHV|NDUQD DWW VWlOOD IUnJRU RFK VQDEEW In VYDU SODQHUDU PDQ GRFN LQWH DWW WLOOKDQGDKnOOD

8WYlUGHULQJHQ NDQ NRQVWDWHUD DWW IUnJHOnGDQ L EHW\GHOVHQ DWW EH V|NDUHQ NDQ VWlOOD IUnJRU RFK VQDEEW In VYDU KDU YDULW P\FNHW XSS VNDWWDG 'HQ NRPPHU GRFN DWW I|UVYLQQD L VDPEDQG PHG DWW 0LOM|EDONV XWELOGQLQJHQ XSSK|U 1nJRQ DNW|U VRP YLOO GULYD GHQ YLGDUH ILQQV lQQX LQWH

1lULQJVOLYHW

8WJnHQGH IUnQ GH VDPWDO VRP KDU I|UVW Sn XWYlUGHULQJVVHPLQDULHUQD

VNXOOH QlULQJVOLYHW NXQQD GHODV LQ L I\UD JUXSSHU HIWHU KXU GH QnV DY LQ

IRUPDWLRQ

œ 6WRUD .ODUDU XWELOGQLQJHQ VMlOYD HOOHU DQOLWDU NRQVXOW
œ 0HGHOVWRUD $QOLWDU NRQVXOW
œ 6Pn .DQ QnV PHG NRUWIDWWDG LQIRUPDWLRQ

œ1\I|UWDJDUH .DQ QnV YLD 359

'H IOHVWD DY GH VWRUD RFK PHGHOVWRUD I|UHWDJHQ KDU PHG VWRU VDQQROLNKHW

WLOOJRGRJMRUW VLJ LQIRUPDWLRQ RP 0LOM|EDONHQ 0DQ NODUDU DY XWELOG

QLQJHQ VMlOYD HOOHU DQOLWDU NRQVXOWHU *HQRP DWW EMXGD LQ VWRUD I|UHWDJ

RFK NRQVXOWHU WLOO OlUDUXWELOGQLQJHQ KDU NRPPLWWpQ VDQQROLNW WlFNW LQ

VWRUD RFK PHGHOVWRUD I|UHWDJ I|UKnOODQGHYLV YlO

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

'H VPn I|UHWDJHQ KDU RIWD LQWH WLG DWW Jn Sn XWELOGQLQJ RFK NDQ GlU I|U ElVW QnV JHQRP P\FNHW NRUWIDWWDG RFK DQSDVVDG LQIRUPDWLRQ VRP GLVWULEXHUDV GLUHNW HOOHU YLD EUDQVFKRUJDQ .RPPLWWpQV I|UHWDJV EURVFK\U I\OOHU HQ GHO DY GHWWD EHKRY PHQ GHQ lU LQWH DQSDVVDG WLOO ROLND EUDQVFKHUV EHKRY DY LQIRUPDWLRQ 'HW VNXOOH GlUI|U YDUD DQJHOlJHW RP NRPPLWWpQ NXQGH DQYlQGD HQ GHO DY GH NYDUYDUDQGH UHVXUVHUQD WLOO DWW WD IUDP LQIRUPDWLRQVEODG ULNWDGH WLOO GH VPnI|UHWDJVWlWD EUDQVFKHUQD

'H Q\VWDUWDQGH I|UHWDJHQ lU VYnUDVW DWW Qn PHG LQIRUPDWLRQ (Q DY GH In WLOOJlQJOLJD NDQDOHUQD JnU YLD 3DWHQW RFK UHJLVWUHULQJVYHUNHW L VDPEDQG PHG UHJLVWUHULQJ DY I|UHWDJHW 8QGHU HQ SHULRG Sn HWW WLOO WYn nU L DQVOXWQLQJ WLOO ODJHQV LNUDIWWUlGDQGH NXQGH HWW $ EODG GLVWULEXHUDV WLOO DOOD Q\VWDUWDGH YHUNVDPKHWHU )|U \WWHUOLJDUH LQIRUPDWLRQ NXQGH PDQ Sn EODGHW KlQYLVD WLOO I|UHWDJDUEURVFK\UHQ RFK HYHQWXHOO EUDQVFKDQSDVVDG LQIRUPDWLRQ .RPPLWWpQ VNXOOH NXQQD WD NRQWDNW PHG 3DWHQW RFK UH JLVWUHULQJVYHUNHW I|U DWW VH RP GHW lU P|MOLJW DWW GLVWULEXHUD LQIRUPDWLRQ GHQ YlJHQ

$OOPlQKHWHQ

.RPPLWWpQ NRP LQOHGQLQJVYLV DWW SULRULWHUD ERUW DNWLYLWHWHU I|U DWW LQ IRUPHUD DOOPlQKHWHQ 7DFN YDUH |YHUVNRWWHW IUnQ NRPSHQGLHI|UVlOM QLQJHQ KDU PDQ KDIW P|MOLJKHW DWW WD IUDP LQIRUPDWLRQ RP ULNVGDJHQV PLOM|PnO YLONHQ KDU GLVWULEXHUDWV WLOO VNRORU RFK EDUQVWXJRU

'HQ YX[QD GHOHQ DY DOOPlQKHWHQ KDU lQQX Vn OlQJH LQWH WLOOVWlOOWV QnJRQ LQIRUPDWLRQ IUnQ NDQVOLHW 6DQQROLNW NDQ |YHUVNRWWHW IUnQ NRP SHQGLHI|UVlOMQLQJHQ DQYlQGDV lYHQ I|U GHWWD lQGDPnO

, XWYlUGHULQJVVHPLQDULHU RFK L LQWHUYMXHU PHG OHGDP|WHU L NRPPLWWpQ KDU PDQ SRlQJWHUDW DWW GHW YLNWLJDVWH YLG LQIRPUDWLRQ RP PLOM|EDONHQ WLOO DOOPlQKHWHQ lU DWW PDQ EHVNULYHU VnGDQW VRP EHU|U PnQJD (Q JHQRPJnQJ DY PLOM|EDONHQ I|U DWW KLWWD VnGDQD DOOPlQJLOWLJD SXQNWHU VNXOOH EHK|YD LQLWLHUDV DY NRPPLWWpQ 3DUDOOHOOW PHG JHQRPJnQJHQ VNXOOH HQ GLVNXVVLRQ RP GH HIIHNWLYDVWH NDQDOHUQD I|U LQIRUPDWLRQHQ NXQQD I|UDV

2P NRPPLWWpQ SnE|UMDU HWW DUEHWH PHG DWW LQIRUPHUD lYHQ DOOPlQ KHWHQ RP PLOM|EDONHQ NRPPHU GHWWD P|MOLJHQ LQWH DWW NXQQD VOXWI|UDV I|UH XWJnQJHQ DY

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

6OXWVDWVHU

œ)RUWVDWW PLOM|EDONVXWELOGQLQJ NDQ YDUD PRWLYHUDW I|U NRPPXQDOD I|UYDOWQLQJVFKHIHU NRPPXQDOD YHUNVDPKHWVXW|YDUH RFK NRPPXQDOD PLOM|SROLWLNHU 'HWWD VNXOOH NXQQD RUGQDV UHJLRQDOW

œ2UGI|UDQGHQD L NRPPXQHUQDV PLOM|QlPQGHU HIWHUIUnJDU UHJLRQDOD VHPLQDULHU PHOODQ SROLWLNHU RFK WMlQVWHPlQ

œ%HKRYHW DY PHU VSHFLDOLQULNWDG YLGDUHXWELOGQLQJ lU VWRUW L NRP PXQHUQD )|U GHWWD NUlYV DWW XWELOGQLQJPDWHULDO WDV IUDP FHQWUDOW PHQ PDQ EHWRQDU DWW XWELOGQLQJHQ E|U KnOODV UHJLRQDOW

œ'HW ILQQV HQ VWDUN HIWHUIUnJDQ Sn VDPPDQKnOOHQ I|UIDWWQLQJVLQIRUPD WLRQ Sn ,QWHUQHW 0DQ YLOO KD HQ PLOM|SRUWDO *lUQD KRV QDWXUYnUGV YHUNHW , YlQWDQ Sn DWW QDWXUYnUGVYHUNHW WDU |YHU HIWHU 0LOM|EDONV XWELOGQLQJHQV KHPVLGD |QVNDU PDQ DWW 0LOM|EDONVXWELOGQLQJHQV KHP VLGD InU EOL NYDU

œ(IWHUIUnJDQ lU VWDUN Sn HQ ULNWLJ IUnJHOnGD GlU PDQ VQDEEW InU VYDU QlU PDQ VWlOOHU IUnJRU

œ.RPPLWWpQ VNXOOH NXQQD DQYlQGD GHODU DY VLWW |YHUVNRWW WLOO LQIRU PDWLRQ WLOO GH VPnI|UHWDJVWlWD EUDQVFKHUQD RFK WLOO DOOPlQKHWHQ

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

%LODJD

6DPPDQIDWWQLQJ DY XWYlUGHULQJV VHPLQDULHUQD

%DNJUXQG

,QRP UDPHQ I|U XWYlUGHULQJHQ DY 0LOM|EDONVXWELOGQLQJHQ KDU IHP HQ GDJVVHPLQDULHU JHQRPI|UWV 6HPLQDULHUQD JHQRPI|UGHV XQGHU YHFND

RFK 'HOWDJDUH YDU GH UHJLRQDOW YHUNVDPPD OlUDUH VRP KnOOLW XWELOG QLQJ LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ VDPW UHSUHVHQWDQWHU IUnQ GH UHJLRQDOD NRPPXQI|UEXQGHQ 0HG Sn VHPLQDULHUQD IDQQV lYHQ /HLI 6YHUQGDO 619 &DPLOOD )ULVFK 619 RFK *|UDQ (NEODG NRPPLWWpQV NDQVOL

$QWDOHW GHOWDJDUH L GH ROLND VHPLQDULHUQD IUDPJnU DY WDEHOO

7DEHOO $QWDO GHOWDJDUH

2UW 'DWXP $QWDO GHOWDJDUH
     
6WRFNKROP    
8PHn    
+||U    
9l[M|    
*|WHERUJ    

/lUGRPDU DY PLOM|EDONVXWELOGQLQJHQ HOHYHU RFK OlUDUH

*HQHUHOOW XSSOHYGH OlUDUQD DWW UlWW HOHYHU KDGH YDULW PHG XQGHU GH ROLND XWELOGQLQJDUQD VRP KnOOLWV 3n VDPWOLJD RUWHU XSSJDY PDQ GRFN DWW PDQ KDGH VDNQDW SROLWLNHU L V\QQHUKHW IUnQ DQGUD QlPQGHU lQ PLOM| RFK KlOVRVN\GGVQlPQGHUQD VDPW WMlQVWHPlQ IUnQ NRPPXQOHGQLQJDUQD RFK DQGUD QlPQGHU lQ PLOM| RFK KlOVD 3n GH KnOO GlU PDQ lYHQ YlQW VLJ PRW QlULQJVOLYHW XSSOHYGH PDQ DWW GH RFNVn KDGH YDULW GnOLJW UHSUHVHQ WHUDGH EODQG HOHYHUQD

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

9LG GLVNXVVLRQHUQD IUDPNRP HIWHUKDQG DWW GHW I|UHNRPPLW DWW HOHYHU KDGH KLWWDW WLOO IHO NXUV W H[ KDGH GHW IXQQLWV HOHYHU Sn |YHUVLNWVNXUVHQ VRP ERUGH KD JnWW GHQ OlQJUH JUXQGNXUVHQ RFK YLFH YHUVD $WW VnGDQD SUREOHP KDGH XSSNRPPLW EHURGGH HQOLJW OlUDUQD WLOO VWRU GHO Sn DWW LQ IRUPDWLRQHQ RP NXUVHUQD LQWH YDULW WLOOUlFNOLJW W\GOLJ

0DUNQDGVI|ULQJHQ DY NXUVHUQD KDU VN|WWV Sn ROLND VlWW 0DQ I|UH IDOOHU LQWH KD JnWW XW PHG SHUVRQOLJW DGUHVVHUDGH LQEMXGQLQJDU LQRP NRPPXQHUQD YLONHW KDU LQQHEXULW DWW PDQ KDU I|UOLWDW VLJ Sn GHQ LQWHUQD SRVWKDQWHULQJHQ Sn NRPPXQHQ 9LVVD KDU JMRUW VSHFLDOXWVNLFN ULNWDGH WLOO ROLND PnOJUXSSHU PHQ JHQHUHOOW XSSOHYHU PDQD DWW GHW KDU YDULW VYnUW DWW Qn XW PHG LQIRUPDWLRQ RP XWELOGQLQJDUQD

0RWLYDWLRQHQ Sn NXUVHUQD YDU I|UKnOODQGHYLV K|J 8QGDQWDJ IDQQV GRFN H[HPSHOYLV EHUlWWDGH HQ OlUDUH DWW GHW IDQQV SROLWLNHU VRP YDU P\FNHW RLQWUHVVHUDGH RFK IRUVDWWH ´2P GH lQGn KDGH YDULW W\VWD RFK RLQWUHVVHUDGH « QX VW|UGH GH RFNVn DQGUD «´

)UnJRUQD VRP NRP XSS WLOO GLVNXVVLRQ YDU L PnQJW RFK P\FNHW OLN DUWDGH PLOM|VDQNWLRQV DYJLIWHU GLVNXWHUDGHV Sn GH IOHVWD KnOO PHQ lYHQ DYIDOO DOOHPDQVUlWWHQ VDPW VNLOOQDGHU PRW WLGLJDUH ODJVWLIWQLQJ YDU IUnJRU VRP WRJV XSS <WWHUOLJDUH HQ SXQNW VRP GLVNXWHUDWV YDU ULVNHQ I|U NRQIOLNWHU PHOODQ KDQGOlJJDUH RFK SROLWLNHU

'HQ VDPODGH HUIDUHQKHWHQ YDU DWW NRUYVWRSSQLQJHQ VRP PHWRG Sn JUXQGNXUVHQ KDGH IXQJHUDW |YHU I|UYlQWDQ )|UYLVVR KDGH HOHYHUQD YDULW WU|WWD PHQ VDPWLGLJW I|UVWnHQGH I|U DWW GHW YDU VYnUW DWW NXQQD OlUD XW PDWHULDOHW Sn DQQDW VlWW QlU PDQ KDGH Vn NRUW WLG WLOO I|UIRJDQGH bYHQ HUIDUHQKHWHQ IUnQ GLVNXVVLRQHQ NULQJ |YQLQJVH[HPSOHQ YDU UHODWLYW JRG WURWV DWW GHW IDQQV GH VRP DQVnJ DWW H[HPSOHQ LQWH YDU WLOOUlFNOLJW VWULQ JHQWD RFK LQWH KHOOHU WLOOUlFNOLJW IXOOVWlQGLJD (OHYHU RFK OlUDUH KDGH GlUI|U InWW NRPSOHWWHUD H[HPSOHQ PHG I|UXWVlWWQLQJDU 'HWWD XSS IDWWDGHV VRP SRVLWLYW DY VnYlO OlUDUH VRP HOHYHU RFK QnJUD OlUDUH XQGUDGH RP GHW YDU DYVLNWOLJW (OHYHUQD KDU XSSVNDWWDW GLVNXVVLRQHUQD )UnQ IOHUD KnOO SnSHNDGHV DWW GLVNXVVLRQHUQD EOHY PHU LQWUHVVDQWD RP PDQ KDGH HOHYHU VRP KDGH HUIDUHQKHW IUnQ ROLND YHUNVDPKHWHU RFK UROOHU

9DG JlOOGH NXUVHUQD OlQJG IDQQV ROLND XSSIDWWQLQJDU 9LVVD DQVnJ DWW NXUVHUQD YDULW DY UlWW OlQJG PHGDQ DQGUD PHQDGH DWW GH |YHUODJ KDGH YDULW I|U NRUWD 3n IOHUD KnOO KDGH OlUDUODJHQ GHODW XSS JUXQGNXUVHQ WH[ JHQRP DWW KD GDJ HOOHU GDJ LVWlOOHW I|U WUH GDJDU L VWUlFN (QOLJW HQ DY OlUDUQD YDU GH VRP KDGH JnWW NXUVHQ EHW\GOLJW PLQGUH QHJDWLY WLOO NRUYVWRSSQLQJHQ VRP PHWRG lQ |YULJD ´0HG GHW XSSOlJJHW ILFN MX HOHYHUQD OLWH DQGUXP Vn GHW EOHY LQWH Vn P\FNHW NRUY

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

VWRSSQLQJ´ VDGH KRQ 3n IOHUD KnOO HIWHUIUnJDGHV HQ H[WUD GDJ WLOO JUXQGNXUVHQ I|U GLVNXVVLRQHU

8WELOGQLQJVPDWHULDOHW NRPSHQGLHU OlUDUKDQGOHGQLQJDU RFK 2+ ELOGHU EHG|PGHV YDUD P\FNHW DQYlQGEDUW 'HW JlOOGH IUlPVW PDWHULDOHW IUnQ JUXQGNXUVHQ RFK L V\QQHUKHW NRPSHQGLHW VRP DQYlQWV EnGH XQGHU XWELOGQLQJHQ RFK QXPHUD OHYGH HWW HJHW OLY L IRUP DY HQ KDQGERN 1lU GHW JlOOGH ´$WW DQYlQGD PLOM|EDONHQ´ YDU RPG|PHQD YDULHUDQGH HQ GHO OlUDUH XSSVNDWWDGH GHWWD NRPSHQGLXP PHVW PHGDQ DQGUD LQWH DOOV W\FNWH DWW GHW YDU EUD (WW PDWHULDO VRP OlUDUQD JHQHUHOOW VHWW YDU PLQGUH Q|MGD PHG YDU GHW VRP DQYlQWV Sn ´)\VLVN SODQHULQJ´ 3n OlUDUNXUVHUQD RFK lYHQ Sn GH I|UVWD JUXQGNXUVHUQD KDGH PDQ VDNQDW I|URUGQLQJDUQD PHQ GH VDPODGHV DY NRPPLWWpQ Vn VQDUW PDQ LQVnJ DWW GHW IDQQV EHKRY 3n QnJUD RUWHU SnSHNDGHV DWW XWELOGQLQJVPDWHULDOHW NRP I|U VHQW

´$PELWL|VD NXUVGHOWDJDUH KDGH YHODW OlVD Sn HQ YHFND LQQDQ GH VMlOYD VNXOOH Jn NXUVHQ´ VDGH PDQ

'HQ IUlPVWD GULYNUDIWHQ I|U OlUDUQD DWW EOL OlUDUH YDU P|MOLJKHWHQ DWW VMlOYD In OlUD VLJ EDONHQ 0DQ OlU VLJ GHVVXWRP ElWWUH RP PDQ VND OlUD XW QnJRW VMlOY VDGH PDQ gYULJD PRWLY VRP SORFNDGHV IUDP DY IOHUD YDU P|MOLJKHWHQ DWW VNDSD HWW NRQWDNWQlW RFK DWW GHW YDU UROLJW DWW OlUD QnJRW Q\WW

/lUGRPDU DY 0LOM|EDONVXWELOGQLQJHQ UHJLRQDOW RFK QDWLRQHOOW

+XU UHNU\WHULQJHQ DY OlUDUH KDU IXQJHUDW KDU YDULHUDW PHOODQ ROLND UH

JLRQHU 3n YLVVD KnOO KDU GHW IXQJHUDW XWDQ QnJUD VYnULJKHWHU PHGDQ

DQGUD KDU KDIW GHW EHW\GOLJW VYnUDUH 9LG VDPWOLJD VHPLQDULHU IUDPI|UGHV

GRFN DWW GHW EOHY VYnUDUH DWW UHNU\WHUD QlU PDQ NlQGH WLOO YLONHQ WLG VRP

NUlYGHV /HGVWMlUQDQ L YDOHW DY OlUDUH KDU VNLIWDW PHQ GHW lU HQGDVW

XQGDQWDJVYLV VRP PDQ WLOO VW|UVWD GHO KDU VHWW WLOO GHQ SHGDJRJLVND

NRPSHWHQVHQ 3n GHW KnOO GlU PDQ JMRUW GHW GUDEEDGHV PDQ DY PnQJD

DYKRSS 'HWWD WURU OlUDUQD KDGH NXQQD XQGYLNLWV RP PDQ KDGH XWJnWW

IUnQ SHUVRQHUQDV LQWUHVVH I|U PLOM|ODJVWLIWQLQJ

(Q VW|UUH GHO DY OlUDUQD KDU LQJnWW L OlUDUODJ , QnJUD OlQ KDU PDQ LQWH

RUJDQLVHUDW ODJ XWDQ VQDUDUH KDIW O|VD VDPPDQVOXWQLQJDU 'HW SRlQJ

WHUDGHV DY IOHUWDOHW OlUDUH DWW GHW YDU HQ I|UGHO RP PDQ YDU HWW ODJ RFK DWW

DOOD GHOWRJ XQGHU KHOD NXUVHUQD 3n Vn VlWW NXQGH IUnJRU EHVYDUDV DY GH

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

OlUDUH VRP LQWH I|UHOlVWH 0DQ KDGH DOOPlQW VHWW I|UV|NW DWW VlWWD LKRS OlUDUODJ Vn DWW EnGH NRPPXQ RFK OlQVVW\UHOVH IDQQV UHSUHVHQWHUDGH

(Q NRPSHWHQV VRP L VWRU XWVWUlFNQLQJ KDGH VDNQDWV L OlUDUODJHQ YDU MXULVWHU bYHQ SODQHULQJVIRON RFK NXOWXUIRON KDGH VDNQDWV Sn IOHUD KnOO

)UnQ VW|UUH GHOHQ DY OlUDUQD IUDPNRP DWW GHW KDGH YDULW RNODUW RP GH VNXOOH In HUVlWWQLQJ I|U MREEHW RFK L Vn IDOO KXU nWPLQVWRQH QlU GH VWDU WDGH PHG XWELOGQLQJHQ )|U YLVVD KDGH HUVlWWQLQJVIUnJDQ YDULW NODU IUnQ E|UMDQ PHQ lQGULQJDU KDGH JMRUWV HIWHU KDQG +XU PDQ L SUDNWLNHQ O|VWH HUVlWWQLQJHQ VNLOMGH VLJ nW GHOV PHOODQ ROLND OlQ RFK ROLND NRPPXQHU PHQ L YLVVD IDOO lYHQ LQRP HQ NRPPXQ 'HW YDU YDQOLJW DWW HUVlWWQLQJ KDGH EHWDODWV XW WLOO DUEHWVJLYDUHQ (Q DY GHOWDJDUQD EHUlWWDU ´-DJ NlQGH PLJ VRP HQ PRUDOLVN MXOWRPWH QlU HUVlWWQLQJHQ I|U HQJDJHPDQJHW I|UGHV LQ L NROOHJRUQDV XWELOGQLQJVSRWW (Q DY DQOHGQLQJDUQD WLOO DWW MDJ VWlOOGH XSS YDU DWW MDJ YLVVWH DWW GHOV VMlOYD XWELOGQLQJHQ GHOV HUVlWWQLQJHQ VNXOOH NRPPD WLOO Q\WWD I|U GHQ HJQD I|UYDOWQLQJHQ ´ 3n QnJUD KnOO KDU HUVlWWQLQJDU L IRUP DY SHQJDU EHWDODWV XW WLOO OlUDUQD EODQG DQQDW LQRP 6WRFNKROPV OlQ GlU PDQ VO|W HWW IDFNOLJW DYWDO NULQJ HUVlWWQLQJHQ (Q WUHGMH HUVlWWQLQJVYDULDQW lU DWW OlUDUQD KDU InWW QnJRQ ´SUHVHQW´ 'HW KDU KDQGODW RP UHVRU DOOW LIUnQ WLOO %U\VVHO VRP WLOO 9HWODQGD EORPPRU WLOO MXO RFK PLGGDJDU (Q V\QSXQNW VRP IUDPNRP YDU DWW PDQ KDGH XSSVNDWWDW DWW 0LOM|EDONVXWELOGQLQJVNRPPLWWpQ KDGH NXQQD NRPPD PHG ULNWOLQMHU NULQJ HUVlWWQLQJHQ

/lUDUQD DQVnJ DWW NRPSHQGLHUQD HWF L JDQVND VWRU XWVWUlFNQLQJ KDGH JMRUW DWW HOHYHUQD ILFN OLNIRUPLJD XWELOGQLQJDU IUlPVW QlU GHW JlOOHU JUXQGNXUVHQ /lUDUQD KDGH XSSIDWWDW DWW GHW YDU YLNWLJW DWW OlUD XW OLND RFK KDU VWUlYDW HIWHU GHW 7LOOlJJ L IRUP DY HJQD 2+ ELOGHU KDU JMRUWV L YLVV PnQ PHQ XWU\PPHW KDU LQWH YDULW Vn VWRUW I|U DWW J|UD GHW VlJHU PDQ )|UGMXSQLQJVNXUVHUQD I|UHIDOOHU KD YDULW PLQGUH VW\UGD DY NRP SHQGLHU OlUDUKDQGOHGQLQJDU RFK |YQLQJVH[HPSHO 2OLND OlUDUH KDU ODJW W\QJGSXQNWHQ Sn ROLND GHODU 3n YLVVD KnOO KDU lYHQ |YHUVLNWVNXUVHQ I|U lQGUDWV 9DQOLJDVW YDU DWW PDQ E\WWH XW RFK HOOHU NRPSOHWWHUDGH PHG 2+ ELOGHU IUnQ JUXQGNXUVHQ 'HW I|UHNRP RFNVn DWW OlUDUQD DQSDVVDGH |YHUVLNWVNXUVHQ XWLIUnQ YLOND HOHYHU PDQ VNXOOH KD ´-X WLGLJDUH PDQ ILFN YHWD YLOND VRP VNXOOH NRPPD GHVWR WLGLJDUH NXQGH PDQ J|UD RP GLVSRQHULQJHQ DY VFKHPDW´ VDGH GHVVD OlUDUH

1nJRW VRP HQW\GLJW IUDPNRP YLG VDPWOLJD XWYlUGHULQJVVHPLQDULHU YDU DWW OlUDUQD KDGH HQ NlQVOD DY DWW KD ´I|U OLWH N|WW Sn EHQHQ´ L XQGHU YLVQLQJVVLWXDWLRQHQ ´'HW YDU LQWH WLOOUlFNOLJW DWW VMlOY Jn HQ NXUV Sn WUH GDJDU QlU PDQ VHGDQ VNXOOH OlUD XW PDWHULDOHW Sn WUH GDJDU 0DQ NXQGH

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

EDUD H[DNW GHW VRP VNXOOH OlUDV XW ´ VDGHV IUnQ VDPWOLJD (WW VlWW DWW In

HQ GMXSDUH NXQVNDS RFK I|UVWnHOVH YDU DWW GLVNXWHUD IUnJRU

3n HWW DY VHPLQDULHUQD IUDPI|UGHV I|OMDQGH I|UVODJ WLOO XSSOlJJQLQJ DY JUXQGXWELOGQLQJ

œHQ LQWURGXNWLRQVGDJ PHG HQ |YHUVLNW DWW EDONHQ

œVMlOYD NXUVHQ

œHIWHUGDJ DU GlU PDQ MREEDU PHG PDWHULDOHW

%HW\JHW I|U OlUDUNXUVHUQD YDULHUDGH IUnQ P\FNHW EUD WLOO XVHO )UDPI|U DOOW ILFN QnJUD HQVNLOGD OlUDUH P\FNHW JRG NULWLN 0HVW NULWLN IUDPI|UGHV PRW GHQ SHGDJRJLVND GDJHQ VRP LQOHGGH PLOM|EDONVXWELOGQLQJHQ ´.XUVHQ YDU XVHO MD QlUPDVW I|UQlUPDQGH´ DQVnJ HQ DY GHVV VWDUNDVWH NULWLNHU /lUDUQD DQVnJ DWW PDQ YLVVHUOLJHQ EHK|YHU SHGDJRJLN I|U DWW NXQQD OlUD XW PHQ PHQDGH DWW GHW IDQQV HWW P\FNHW OLWHW XWU\PPH I|U DWW WLOOlPSD SHGDJRJLNHQ QlU XWELOGQLQJVVLWXDWLRQHQ YDU VRP GHQ YDU 'HW IUDPI|UGHV nVLNWHU RP DWW GHW P|MOLJHQ KDGH YDULW ElWWUH RP GHQ SHGD JRJLVND GDJHQ KDGH NRPPLW VLVW Vn DWW PDQ NXQGH WLOOlPSD SHGD JRJLNHQ Sn GHW VRP PDQ KDGH OlUW VLJ

<WWHUOLJDUH HQ NXUV VRP nGURJ VLJ P\FNHW NULWLN YDU ´)\VLVN SODQHULQJ´ 'HW YDU VYnUW DWW I|OMD WUnGHQ L GHQ XWELOGQLQJHQ PHQDGH PDQ , HWW OlQ ULQJGH WLOO RFK PHG OlUDUQD KHP WLOO VLQ FKHI YLG GHQ I|UVWD ILNDUDVWHQ RFK YDU I|UWYLYODGH 'H WURGGH LQWH DWW GH VNXOOH KD QnJRQ P|MOLJKHW DWW KnOOD NXUVHQ VMlOYD .XUVHQ VNLOGH VLJ IUnQ GH |YULJD NXU VHUQD JHQRP DWW GHQ KDGH PnQJD NRSSOLQJDU WLOO DQGUD ODJDU W H[ 3%/

.XUVHQ I|UXWVDWWH HQOLJW OlUDUQD DWW PDQ YDU YlO EHYDQGUDG L GH |YULJD ODJDUQD PHQ Vn YDU LQWH IDOOHW ´'HWWD ERUGH KD JnWW XW VRP LQIRUPDWLRQ WLOO OlUDUQD Vn DWW PDQ KDGH KDIW HQ P|MOLJKHW DWW OlVD Sn LQQDQ PDQ VNXOOH Jn NXUVHQ´ DQVnJ PDQ

/lUDUQD YDU HQLJD RP DWW GHW KDGH YDULW EUD RP NXUVHUQD KDGH NXQQDW VWDUWD WLGLJDUH DOWHUQDWLYW DWW EDONHQ KDGH WUlWW L NUDIW VHQDUH 3n YLVVD KnOO KDGH PDQ KXQQLW N|UD QnJUD JUXQGNXUVHU LQQDQ nUVVNLIWHW Gn EDONHQ WUlGGH L NUDIW RFK GHWWD KDGH XSSIDWWDWV VRP P\FNHW SRVLWLYW DY HOHYHUQD (Q DY OlUDUQD VDGH DWW GHW YDU DY VWRU EHW\GHOVH DWW VWDUWD NXU VHU LQQDQ nUVVNLIWHW LQWH PLQVW SV\NRORJLVNW 'HWWD EHNUlIWDV RFNVn L SnVWnHQGHW DWW YLVVD HOHYHU YDU KHOW SDQLNVODJQD |YHU DWW GH LQWH VNXOOH KLQQD OlUD VLJ EDONHQ LQQDQ GHQ WUlGGH L NUDIW )OHUD OlUDUH SnSHNDGH RFNVn DWW GHW L PnQJW RFK P\FNHW lU HQ WURYlUGLJKHWVIUnJD 0DQ NDQ LQWH VN|WD P\QGLJKHWVXW|YQLQJHQ RP PDQ LQWH NDQ ODJHQ YDU NRQWHQWDQ

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

, GH OlQ GlU PDQ KnOOLW |YHUVLNWVNXUVHQ HIWHU JUXQGNXUVHQ DQVnJ PDQ Vn KlU L HIWHUKDQG DWW GHW KDGH YDULW ElWWUH DWW KD |YHUVLNWVNXUVHQ I|UVW RFK JUXQGNXUVHQ VHGDQ 3n Vn VlWW KDGH SHUVRQHU VRP Sn |YHUVLNWV NXUVHQ LQVnJ DWW GH EHK|YGH HQ OlQJUH NXUV KDIW HQ FKDQV DWW Jn WUH GDJDUV I|UGMXSQLQJVNXUVHQ , |YULJW I|UHI|OO LQWH WXURUGQLQJHQ Sn NXUVHUQD KDU YDULW QnJRW VRP PDQ IXQGHUDW NULQJ

)UDPWLGHQ HIWHU 0LOM|EDONVXWELOGQLQJ

5HJLRQDOD EHKRY

'HW ILQQV HWW IRUWVDWW XWELOGQLQJVEHKRY QlU GHW JlOOHU PLOM|EDONHQ EH G|PGH OlUDUQD L GH IOHVWD OlQHQ cVLNWHUQD JLFN WLOO YLVV GHO LVlU YDG JlOOGH RP PDQ VNXOOH EHK|YD XSSUHSD GH NXUVHU PDQ UHGDQ KnOOLW HOOHU LQWH 3n VDPWOLJD VHPLQDULHU XWRP GHW VRP K|OOV L 6WRFNKROP EHG|PGH OlUDUQD DWW GHW IDQQV EHKRY DY DWW XSSUHSD IUDPI|U DOOW JUXQGNXUVHQ RFK |YHUVLNWVNXUVHQ L GHW VNLFN VRP PDQ WLGLJDUH KnOOLW GHP 0nOJUXSSHUQD VNXOOH H[HPSHOYLV YDUD SHUVRQHU VRP PLVVDW NXUVHUQD QlU GH JnWW WLGLJDUH RFK Q\DQVWlOOGD IUDPI|U DOOW SHUVRQHU VRP KDGH QnJRQ DQQDQ XWELOGQLQJ lQ PLOM|LQVSHNW|UVXWELOGQLQJHQ %ODQG OlUDUQD VRP IDQQV UHSUHVHQWHUDGH L 6WRFNKROP IUnQ 6WKOP V OlQ gVWHUJ|WODQG *lYOHERUJ 'DODUQD 9lVWPDQODQG RFK 6|GHUPDQODQG IUDPI|UGHV DWW PDQ LQWH NXQGH KnOOD NXUVHUQD L EHILQWOLJW VNLFN XWDQ DWW GH PnVWH XSSGDWHUDV

*HQRPJnHQGH WDODGHV P\FNHW RP EHKRYHW DQSDVVQLQJDU WLOO VlU VNLOGD PnOJUXSSHU W H[ NRPPXQSROLWLNHU HOOHU VSHFLILND EUDQVFKHU 3n WYn VHPLQDULHU SnSHNDGHV RFNVn DWW GHW ILQQV HQ PnOJUXSS L I|UHWDJ VRP VND FHUWLILHUD VLJ HQOLJW ,62 HIWHUVRP GH PnVWH KD HWW LQW\J Sn NlQQHGRP RP PLOM|ODJVWLIWQLQJHQ

1lWYHUN VnYlO LQIRUPHOOD VRP IRUPHOOD ILQQV GHW UHGDQ |YHU ODQGHW 0nQJD DY QlWYHUNHQ lU ´EUDQVFKVSHFLILND´ W H[ ILQQV QlWYHUN I|U NRPPXQHNRORJHU PLOM|VN\GGDUH HWF Sn IOHUD KnOO I|UHNRP RFNVn QlW YHUN EODQG PLOM|FKHIHU /lUDUQD I|UHI|OO LQWH W\FND DWW QlWYHUNHQ VNXOOH YDUD GHW UlWWD VWlOOHW I|U V\VWHPDWLVN VSULGQLQJ RP LQIRUPDWLRQ RP EDO NHQ RFK GH HUIDUHQKHWHU VRP PDQ KDGH XWLIUnQ GHQ 'lUHPRW EHUlWWDGH OlUDUQD DWW PLOM|EDONHQ YDU GHW HQGD GH WDODGH RP L QlWYHUNHQ PHQ DWW GHWWD YDU Sn HWW RVWUXNWXUHUDW VlWW PDQ WDODGH RP GHW VRP OnJ GHP QlU PDVW RP KMlUWDW RFK RP GHW VRP YDU DNWXHOOW I|U GDJHQ

/lUDUQD DQVnJ DWW GHW IDQQV XWELOGQLQJVEHKRY LQRP QlULQJVOLYHW )UnJDQ lU GRFN YHP VRP VND KnOOD VnGDQ XWELOGQLQJ RFK KXU PDQ QnU XW

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

WLOO PnOJUXSSHQ )OHUD OlUDUH EODQG DQQDW HQ UHSUHVHQWDQW IUnQ QlULQJV

OLYHW IUDPI|UGH DWW QlULQJVOLYHW JlUQD YLOO KD QnJRQ ´HJHQ´ VRP XWELOGDU

GHP W H[ HQ SHUVRQ IUnQ QnJRQ EUDQVFKRUJDQLVDWLRQ 'RFN ILQQV HWW

SUREOHP YDG JlOOHU SULVHW Sn VnGDQD XWELOGQLQJDU GHW XSSOHYV VRP K|JW

RFK ULVNHQ ILQQV Gn DWW LQWH VPnI|UHWDJDUH NRPPHU , 6WRFNKROP WDODGHV

VlUVNLOW RP VYnULJKHWHUQD DWW Qn XW WLOO VPnI|UHWDJDUH PHG XWOlQGVN

KlUNRPVW RFK PDQ KDGH IXQGHULQJDU Sn DWW J|UD QnJRW

*HQHUHOOW EHG|PGH OlUDUQD DWW GHW YDU VYnUW DWW NODUD IUDPWLGD XWELOG

QLQJVLQVDWVHU UHJLRQDOW 5HJHOUlWWD XSSUHSQLQJDU DY NXUVHU NDQ PDQ

NODUD PHQ PDQ EHIDUDU DWW HOHYXQGHUODJHW lU I|U OLWHW (WW VlWW DWW O|VD

GHWWD VNXOOH YDUD DWW PDQ JnU LKRS lYHQ PHOODQ ROLND UHJLRQHU OlQ

1DWLRQHOOD LQVDWVHU

/lUDUQD DQVnJ DWW GHW YDU \WWHUVW YLNWLJW DWW GHW IDQQV HWW QDWLRQHOOW JUHSS RP IUDPWLGD XWELOGQLQJDU 'HWWD JlOOGH VnYlO IUDPWDJQLQJ RFK VSULGQLQJ DY Q\D XWELOGQLQJDU LQNO NXUVPDWHULDO VRP VSULGQLQJHQ DY LQIRU PDWLRQ RP lQGULQJDU L 0LOM|EDONHQ RFK SUD[LV 'HWWD lU YLNWLJW I|U DWW In HQ OLNIRUPLJKHW |YHU ODQGHW )UnQ VDPWOLJD ODQGVlQGDU SnSHNDGHV GRFN DWW GHW YDU Q|GYlQGLJW DWW VMlOYD XWELOGQLQJVVLWXDWLRQHQ VNHGGH Sn UH JLRQDO QLYn $QQDUV EOLU GHW DOOW I|U G\UD UHVNRVWQDGHU /lUDUQD I|UHVORJ DWW GHQ P\QGLJKHW VRP NRPPHU DWW DQVYDUD I|U YLGDUH XWELOGQLQJ I|U VODJVYLV 1DWXUYnUGVYHUNHW OlU DY /LYVPHGHOVYHUNHW VRP KnOOHU VLQD XW ELOGQLQJDU UHJLRQDOW , GHWWD VDPPDQKDQJ SnSHNDGHV RFNVn DWW 1DWXU YnUGYHUNHW VRP WLOOWlQNW XWELOGQLQJVDUUDQJ|U LQWH InU KD Vn K|JD SULVHU Sn VLQ NXUVHU VRP GH KDU KDIW WLGLJDUH 'n KDU LQJH UnG DWW XWELOGD VLJ

'HW WU\FNWHV RFNVn P\FNHW Sn YLNWHQ DY VDPRUGQLQJ PHOODQ GH ROLND VHNWRUVP\QGLJKHWHUQD VRP lU EHU|UGD DY EDONHQ 0DQ DQVnJ DQVYDUHW I|U VDPRUGQLQJ RFK LQIRUPDWLRQVVSULGQLQJ ERUGH OLJJD Sn GH FHQWUDOD P\QGLJKHWHUQD RFK Gn IUlPVW 1DWXUYnUGVYHUNHW bYHQ GHQ Q\D P\QGLJKHWHQ &HQWUXP I|U KnOOEDU XWYHFNOLQJ IDQQV PHG L GLVNXV VLRQHUQD /lUDUQD WDODGH VLJ YDUPD I|U DWW LQIRUPDWLRQHQ RP lQGULQJDU VNXOOH ILQQDV DWW WLOOJn Sn ,QWHUQHW 0DQ |QVNDGH Gn DWW DOO LQIRUPDWLRQ IDQQV VDPODG Sn HWW VWlOOH W H[ PHG OlQNQLQJDU WLOO DQGUD P\QGLJKHWHUV I|UHVNULIWHU

)|U DWW Qn QlULQJVOLYHW ElWWUH DQVnJ PDQ W H[ DWW GHW EHK|YGH WDV IUDP EUDQVFKYLV LQIRUPDWLRQ (Q DQQDQ LGp YDU DWW 359 VNXOOH GLVWUL EXHUD HWW EODG WLOO Q\VWDUWDGH I|UHWDJ Vn DWW PDQ ILFN NlQQHGRP RP DWW

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

EDONHQ ILQQV RFK DWW GHW ILQQV EUDQVFKVSHFLILN LQIRUPDWLRQ DWW KlPWD KRV W H[ 619

)UnJHOnGDQ VRP KDU IXQQLWV Sn 0LOM|EDONVXWELOGQLQJHQV KHPVLGD KDU YDULW P\FNHW SRSXOlU 0DMRULWHWHQ DY OlUDUQD DQVnJ DWW GHQ ERUGH ILQQDV lYHQ L IRUWVlWWQLQJHQ I|UVODJVYLV Sn 1DWXUYnUGVYHUNHWV KHPVLGD 9LVVD NULWLVND U|VWHU K|MGHV GRFN RFK JlOOGH EODQG DQQDW ULVNHQ I|U IHOWRON QLQJDU RFK HM KHOWlFNDQGH VYDU )|UHVSUnNDUQD PHQDGH GRFN DWW PDQ LQWH ILFN VH Sn VYDUHQ L IUnJHOnGD VRP GH VOXWJLOWLJD VYDUHQ XWDQ PHU VRP HWW XSSVODJ I|U KXU PDQ VND Jn YLGDUH 6YDUHQ NDQ LQWH KHOOHU EH WUDNWDV VRP MXULGLVNW ELQGDQGH

'HW IDQQV LQWH QnJRW VW|UUH LQWUHVVH I|U LQWHUDNWLYD XWELOGQLQJDU Sn &' HOOHU ,QWHUQHW ´bPQHW lU I|U NRPSOH[W I|U DWW GHW VND IXQJHUD´ PHQDGH PDQ RFK GHVVXWRP IUDPI|UGHV DWW GHW YDU WUHYOLJW RFK Q\WWLJW DWW WUlIID PlQQLVNRU 'HW WDODGHV RFNVn Sn HQ GHO KnOO RP DWW PDQ EH K|YGH NXQQD NRQFHQWUHUD VLJ Sn XWELOGQLQJ XQGHU HQ VDPPDQKnOOHQ WLG YLONHW PDQ EHIDUDGH LQWH VNXOOH EOL IDOOHW RP PDQ VDWW Sn NRQWRUHW RFK N|UGH HQ LQWHUDNWLY XWELOGQLQJ 0|MOLJHQ VNXOOH YLVVD SHUVRQHU NXQQD WlQND VLJ DWW HQ LQWHUDNWLY XWELOGQLQJ VNXOOH YDUD DQYlQGEDU I|U Q\ DQVWlOOGD

(UIDUHQKHWHU DY 0LOM|EDONHQ

0LOM|VDQNWLRQVDYJLIWHU

'HW UnGHU HQ VWRU HQLJKHW EODQG GHOWDJDUQD RP DWW GHW KDU XSSVWnWW HQ EHW\GDQGH UROONRQIOLNW I|U SROLWLNHUQD PHG GHQ Q\D ODJHQ 3ROLWLNHUQD YLOO LQWH EOL I|UNQLSSDGH PHG DYJLIWHU RFK VDQNWLRQHU RFK GH YLOO LQWH IUDPVWn VRP QlULQJVOLYVILHQWOLJD 'HOWDJDUQD KDU WURWV GHWWD ROLND XSS IDWWQLQJ KXUXYLGD GHW lU DWW I|UHGUD DWW EHVOXWHQ KDU GHOHJHUDWV WLOO WMlQVWHPDQ HOOHU LQWH

'HW EOLU lYHQ HQ GHOLNDW VLWXDWLRQ Gn PDQ WYLQJDV XWG|PD PLOM| VDQNWLRQVDYJLIW WLOO NRPPXQDOD YHUNVDPKHWVXW|YDUH

'H IOHVWD NRPPXQHUQD KDU LQIRUPHUDW I|UHWDJHQ RP DQPlOQLQJV SOLNWHQ L I|UYlJ 0DQ KDU GRFN OnQJW LIUnQ EUD UHJLVWHU |YHU I|UHWDJDUQD (Q GLVNXVVLRQ KDU XSSVWnWW L NRPPXQHUQD RP L YLOND IDOO HQ P\QGLJ KHW VND DQVHV NlQQD WLOO YHUNVDPKHWHQ RFK GlUPHG VND DQVHV VRP DQ PlOGD 0nQJD NRPPXQHU PHQDU DWW PDQ LQWH VND XWG|PD PLOM| VDQNWLRQVDYJLIW RP YHUNVDPKHWHQ KDU KDIW WLOOVWnQG HQOLJW WLGLJDUH ODJ

VWLIWQLQJ

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

+XU VND PDQ DJHUD NULQJ YHUNVDPKHWHU VRP I|UVlWWV L NRQNXUV" +XU P\FNHW DUEHWH lU GHW ULPOLJW DWW OlJJD QHG Sn DWW I|UV|ND In LQ SHQJDUQD"

7MlQVWHPlQQHQ XSSOHYHU DWW DYJLIWHUQD lU NUnQJOLJD WDU WLG RFK LQWH JHU QnJUD SHQJDU WLOO NRPPXQHQ 0DQ DQVHU DWW 619V KDQGOlJJQLQJ lU I|U OnQJVDP 'HW NlQQV PHQLQJVO|VW DWW XWG|PD PLOM|VDQNWLRQVDYJLIWHU RP GHVVD LQWH GULYV LQ

'HOWDJDUQD XQGUDU RP GHW NRPPHU XSSI|OMQLQJDU DY KXU PLOM|VDQN WLRQVDYJLIWHU G|PV XW

$QPlOQLQJVlUHQGHQ

0DQ DQVHU DWW GHW lU WLGV|GDQGH RFK NRPSOLFHUDW DWW WLOOlPSD KlQV\QV UHJOHUQD Sn I|UKnOODQGHYLV HQNOD lUHQGHQ

'HOWDJDUQD JDY QnJUD H[HPSHO Sn RNODUKHWHU L NRQNUHWD IDOO

œ9LOODFLVWHUQHU KDU IDOOLW ERUW XU ODJVWLIWQLJHQ 9DU KDPQDU WLOOV\QHQ QX"

œ6Pn YLOODYlUPHSXPSDU KDU WDJLWV LQ L EDONHQ RFK nWHULJHQ WDJLWV ERUW +XU EOLU GHW L IUDPWLGHQ"

œ9LOND YHUNVDPKHWHU RPIDWWDV DY DQPlOQLQJVSOLNWHQ QlU GHW JlOOHU KlOVRIUnJRU 6R6 DOOPlQQD UnG lU LQWH WLOOUlFNOLJW W\GOLJD

œ9DG PHQDV PHG L JRG WLG "

%HJUHSSHW DQPlODQ I|UHNRPPHU L ODJHQ L ROLND EHW\GHOVHU 'HWWD VNXOOH EHK|YD I|UlQGUDV I|U DWW XQGYLND PLVVI|UVWnQG

)|UHOlJJDQGH RP XQGHUV|NQLQJ XSSJLIWVOlPQLQJ

(QGDVW HWW InWDO NRPPXQHU KDU KDIW SUREOHP PHG GHWWD 'HW KDU Gn U|UW VLJ RP H[DNWKHWHQ L YDG VRP VND J|UDV RFK KXU GHW VND J|UDV

7LOOWUlGH I|U WLOOV\Q

'HW KDU YDULW VDPVWlPPLJKHW IUnQ GHOWDJDUQD RP DWW GHW LQWH IXQQLWV QnJUD VYnULJKHWHU VRP U|U WLOOWUlGH VRP KDU PHG EDONHQ DWW J|UD

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

7LOOV\QVDYJLIW

1\ WD[D lQQX LQWH DQWDJHQ L DOOD NRPPXQHU 1\ RFK K|JUH WD[D KDU PHGI|UW VYnULJKHWHU L DUJXPHQWDWLRQHQ PHG SROLWLNHU RFK QlULQJVLGNDUH 0DQ NlQQHU GHW lYHQ VYnUW DWW WD XW WLOOV\QVDYJLIWHU I|U YHUNVDPKHWHU PDQ DOGULJ EHV|NHU

.RPPXQHUQD VDNQDU GDWDUHJLVWHU PHG 61, NRGHU %HK|YV I|U IDN WXUHULQJHQ

8SSGHOQLQJHQ PHOODQ KXYXGYHUNVDPKHW RFK ELYHUNVDPKHW XSSIDWWDV VRP NUnQJOLJ RFK DWW GHW HNRQRPLVNW JHU YlOGLJW OLWH I|U NRPPXQHQ /LWHQ O|Q I|U VWRUW EHVYlU

9HUNVDPKHWVXW|YDUH XSSOHYHU GHW PlUNOLJW DWW GH NDQ In UlNQLQJDU DYVHHQGH WLOOV\QVDYJLIW IUnQ WYn ROLND P\QGLJKHWHU

7LOOV\QVYlJOHGQLQJ

0DQ |QVNDU VDPRUGQLQJ L WLOOV\QVYlJOHGQLQJHQ IUnQ GH FHQWUDOD P\Q GLJKHWHUQD 0DQ |QVNDU JHPHQVDPPD VNULIWHU GRNXPHQW 0DQ DQVHU GHVVXWRP DWW HQ GHO DY EXGVNDSHQ KDU VWnWW L VWULG PHG 0LOM|EDONHQ

/lQVVW\UHOVHUQDV LQVDWVHU LQRP WLOOV\QVYlJOHGQLQJ IUDPVWnU VRP P\FNHW YDULHUDQGH PHOODQ OlQHQ 1nJRQ IRUP DY FHQWUDO XSSI|OMQLQJ DQVHV EHK|YDV

cWDOVDQPlODQ

'HOWDJDUQD EHVNULYHU GHQ VWRUD VNLOOQDG VRP ILQQV PHOODQ GHW WUDGL

WLRQHOOD NRPPXQDOD DUEHWVVlWWHW GlU PDQ KHOD WLGHQ VWUlYDU HIWHU

|SSHQKHW PRW YHUNVDPKHWVXW|YDUQD RFK nNODJDUHQV DUEHWVVlWW GlU XW

JnQJVSXQNWHQ LVWlOOHW lU VHNUHWHVV cNODJDUQD YLOO W H[ DWW NRPPXQHUQD

VND VHNUHWHVVOlJJD DQPlODQ I|U DWW Sn Vn VlWW VN\GGD nWDOHW

'HQ QRJJUDQQKHW VRP NUlYV I|U L EHYLVVlNULQJHQ XSSIDWWDV VRP HQ

RYDQ RFK NUlYDQGH DUEHWVXSSJLIW

$QQDW

'HOWDJDUQD WRJ XSS QnJUD |YULJD IUnJRU EO D

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

œ+XU KDQWHUDV PLOM|ULVNRPUnGHQ QlU YHUNVDPKHWVXW|YDUH LQWH OlQJUH H[LVWHUDU KHUUHO|VD KXQGDU "

œ.RPPXQHUQD |QVNDU KDQGOHGQLQJ IUnQ 619 QlU GHW JlOOHU PlWQLQJ DY RP PLOM|NYDOLWHWVQRUPHUQD lU XSSI\OOGD 0DQ HIWHUIUnJDU lYHQ QnJRQ IRUP DY PlWSDNHW VRP PDQ NDQ K\UD LQ XQGHU NRUWDUH VDPW RFK P|M OLJKHW DWW MlPI|UD PlWYlUGHQ IUnQ DQGUD NRPPXQHU

3U|YQLQJVlUHQGHQ

.RPPXQDOD SU|YQLQJVlUHQGHQ

0DQ DQVHU DWW KDQGOlJJQLQJVWLGHUQD KDU |NDW RFK DWW DUEHWHW KDU EOLYLW PHU E\UnNUDWLVNW 'HW NDQ W H[ EOL P\FNHW RPIDWWDQGH XWUHGQLQJDU I|U HQ HQGD YDWWHQWRDOHWW 0DQ XQGUDU YDUI|U GHW VND YDUD WLOOVWnQGVSOLNW YLG HQ :& PHQ HQGDVW DQPlOQLQJVSOLNW YLG IHP HOOHU IOHU :&"

0DQ IUnJDU VLJ RP 619 YHUNOLJHQ YLOO KD NRSLD Sn DOOD EHVOXW JlO ODQGH :& IUnQ DOOD NRPPXQHU" 9DG VND 619 DQYlQGD GHP WLOO"

0.%

0DQ DQVHU DWW 0.% KLWWLOOV KDU KDQWHUDWV OLWH YDOKlQW 9HUNVDPKHWV XW|YDUQD J|U LQWH VlUVNLOW EUD 0.% RFK OlQVVW\UHOVHUQD KDU ROLND ULEERU I|U YDG VRP VND DQVHV YDUD EHW\GDQGH PLOM|SnYHUNDQ 'HOWDJDUQD |QVNDU NRQNUHWD UnG IUnQ 619

6DPUnGVSURFHVVHQ XSSOHYV NUnQJOLJ 0nQJD DQVHU GHVVXWRP DWW GHW lU VYnUKDQWHUOLJW DWW 0.% KDU ROLND EHW\GHOVH L ROLND ODJDU RFK DWW SURFHGXUUHJOHUQD GHVVXWRP VNLOMHU VLJ

0DQ DQVHU DWW KlOVRDVSHNWHUQD WHQGHUDU DWW PLVVDV L 0.%

.RPPXQHUQD VNXOOH JlUQD UHJHOPlVVLJW YLOMD KD NRSLD Sn IlUGLJD 0.% 0DQ XQGUDU RP LQWH KHOD 0.% EHK|YHU YDUD PHG L DQV|NDQ .DQ YHUNVDPKHWVXW|YDUHQ J|UD WDNWLVND XUYDO XU 0.% I|U DWW XQGHUOlWWD

SU|YQLQJHQ

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

8W|NDW VDPUnG

0DQ XSSOHYHU SUREOHP PHG DWW DYJ|UD YLOND VRP VND NDOODV IUnQ FHQW UDOD P\QGLJKHWHU 0DQ XQGUDU RFNVn YDG VRP KlQGHU RP OlQVVW\UHOVHQ JHU IHODNWLJD UnG

+XU VND PDQ J|UD RP PDQ UHGDQ KDU KDIW VDPUnG PHG DOOD EHU|UGD RFK RP OlQVVW\UHOVHQ EHVOXWDU RP XW|NDW VDPUnG" %OLU lYHQ OLWH InQLJW L GH IDOO IUnJRUQD lU Vn VPn DWW GHQ XW|NDGH NUHWVHQ LQWH HQV VYDUDU

0LOM|SU|YQLQJVGHOHJDWLRQHQ

0DQ XSSIDWWDU DWW DUEHWVVlWWHW lU P\FNHW ROLND PHOODQ OlQHQ 'HVVXWRP DQVHU PDQ DWW GH DUEHWDU P\FNHW IRUPHOOW RFK DWW GHW WDU OnQJ WLG 'HOWDJDUQD SHNDU Sn HQ WlQNEDU UROONRQIOLNW PHOODQ 03' RFK OlQV VW\UHOVHQ 7LOO H[HPSHO VNXOOH GHW NXQQD EOL NRQIOLNWHU RP OlQVVW\UHOVHQ WDU LQLWLDWLY WLOO RPSU|YQLQJ DY EHVOXW VRP 03' IDWWDW

9LVVD EHWRQDU DWW GHW lU HQ RUHQ NRQVWUXNWLRQ DQGUD DQVHU DWW GHW WURWV DOOW lU ElWWUH lQ I|UH EDONHQV LQI|UDQGH 0DQ NRQVWDWHUDU lYHQ DWW 03' KDU LQSODFHUDWV RUJDQLVDWRULVNW ROLND KRV GH ROLND OlQVVW\UHOVHUQD /lQVVW\UHOVHUQDV DUEHWH PHG EHUHGQLQJHQ LQI|U EHVOXW KRV 03' DQ

VHV VNLOMD VnJ nW SnWDJOLJW PHOODQ OlQHQ

3U|YQLQJVDYJLIWHU

'HOWDJDUQD WDU XSS QnJUD ROLND VYnULJKHWHU PHG JUlQVGUDJQLQJDU

œ8SSGHOQLQJ DY DYJLIWHU RP HWW I|UHWDJ GULYHU IOHUD YHUNVDPKHWHU

œ.RPPXQHQ NDQ LQWH WD XW SU|YQLQJVDYJLIW L GH IDOO OlQVVW\UHOVHQ lU WLOOV\QVP\QGLJKHW

œ.ODUDUH UHJOHU I|U HIWHUVNlQNQLQJ DY DYJLIWHU

7LOOnWOLJKHWVSU|YQLQJ

1nJUD ROLND IUnJRU WRJV XSS DY GHOWDJDUQD

œ9HP OlPQDU KDQGOLQJDUQD WLOO UHJHULQJHQ"

œ+XU VND NRPPXQHQ DJHUD I|U DWW I|UD VLQ WDODQ"

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

, HWW DY VHPLQDULHUQD DQVnJ PDQ DWW HQ MlYVVLWXDWLRQ XSSVWnU Gn %DQ

YHUNHW RFK 9lJYHUNHW L YLVVD IUnJRU VMlOYD DYJ|U YLOND YLOONRU VRP VND

JlOOD lYHQ Gn GH lU YHUNVDPKHWVXW|YDUH

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

%LODJD

8QGHUODJVUDSSRUW IUnQ HQNlWXQGHUV|NQLQJQRYHPEHU

6DPPDQIDWWQLQJ

6RP HQ GHO L XWYlUGHULQJHQ DY 0LOM|EDONVXWELOGQLQJHQ KDU HQ HQNlW XQGHUV|NQLQJ JHQRPI|UWV PHG SHUVRQHU L I\UD ROLND JUXSSHU

œ0LOM|FKHIHU L NRPPXQHU HQ SHU NRPPXQ

œ0LOM| 3ODQFKHIHU Sn /lQVVW\UHOVHU HQ YDUGHUD SHU OlQVVW\UHOVH

œ2UGI|UDQGH L NRPPXQDOD PLOM|QlPQGHU HQ SHU NRPPXQ

œ1lULQJVOLYHWV 0LOM|&KHIHU PLOM|FKHIHU PLOM|VDPRUGQDUH L 10&

8QGHUV|NQLQJHQ YLVDU DWW XWELOGQLQJ RP 0LOM|EDONHQ KDU KDIW HWW P\FNHW VWRUW JHQRPVODJ L NRPPXQHU RFK Sn OlQVVW\UHOVHU 3n NRP PXQHUQDV PLOM|I|UYDOWQLQJDU RFK Sn OlQVVW\UHOVHUQDV PLOM| RFK SODQHQKHWHU KDU PHGDUEHWDUQD L JHQRPVQLWW JnWW Sn WYn NXUVHU YDUGHUD %ODQG HQ IMlUGHGHO DY NRPPXQHUQD KDU GRFN HQGDVW HWW InWDO DY GH KDQGOlJJDUH VRP DUEHWDU PHG I\VLVN SODQHULQJ GHOWDJLW L XWELOGQLQJ RP 0LOM|EDONHQ %ODQG SROLWLNHUQD KDU PDQ QnWW XQJHIlU KlOIWHQ DY OHGD P|WHUQD L PLOM|QlPQGHUQD

3n OlQVVW\UHOVHUQD lU PDQ L VWRUW VHWW Q|MGD PHG VLQD NXQVNDSHU RP 0LOM|EDONHQ 'HWWD DYVSHJODV lYHQ L DWW PDQ LGDJ LQWH VHU QnJUD VW|UUH EHKRY DY \WWHUOLJDUH XWELOGQLQJ 2UGI|UDQGHQD L PLOM|QlPQGHUQD lU GlUHPRW LQWH VlUVNLOW WLOOIUHGV PHG VLQD RFK VLQD OHGDP|WHUV NXQVNDSHU RFK VHU GlUI|U HWW VWRUW EHKRY DY IRUWVDWW XWELOGQLQJ UHGDQ LGDJ

8QGHUV|NQLQJHQV PnOJUXSSHU lU |YHUHQV RP DWW P\QGLJKHWHUQD KDU HWW NXQVNDSVPlVVLJW I|UVWHJ IUDPI|U YHUNVDPKHWVXW|YDUQD RFK DWW 0LOM|EDONV XWELOGQLQJHQ KDU YDULW HQ VWDUNW ELGUDJDQGH RUVDN WLOO GHWWD 0LOM|EDONVXWELOGQLQJHQ KDU lYHQ L VWRU XWVWUlFNQLQJ ELGUDJLW WLOO DWW PDQ NXQQDW VNDSD HQ VDPV\Q RP 0LOM|EDONHQV LQQHE|UG RFK WLOOlPSQLQJ LQRP P\QGLJKHWHUQD

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

0HU lQ KlOIWHQ DY EHU|UGD FKHIHU Sn OlQVVW\UHOVHUQD RFK DY PLOM|FKHIHUQD L NRPPXQHUQD DQVHU DWW GHW KDGH KDIW HQ P\FNHW HOOHU JDQVND VWRU EHW\GHOVH RP NXUVHUQD KDGH NRPPLW LJnQJ HWW KDOYnU WLGLJDUH

.XUVHUQD LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ JHV PHG QnJUD XQGDQWDJ EUD EHW\J DY PnOJUXSSHUQD

1lULQJVOLYHWV PLOM|FKHIHU lU PHU Q|MGD PHG NXUVHUQD VRP DQRUGQDWV LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ lQ PHG NXUVHU DQRUGQDGH DY DQGUD NXUVDUUDQJ|UHU 'HW lU HQGDVW OlUDUQDV MXULGLVND NRPSHWHQV VRP EHG|PV SnWDJOLJW ElWWUH KRV DQGUD NXUVDUUDQJ|UHU

0LOM|QlPQGHUQDV RUGI|UDQGH lU PLQVW Q|MGD 0DQ DQVHU DWW NXUVHU QDV UHOHYDQV KDGH NXQQDW YDULW ElWWUH bYHQ GH SUDNWLVND DUUDQJH PDQJHQ KDGH NXQQDW DQSDVVDV ElWWUH WLOO SROLWLNHUQDV I|UXWVlWWQLQJDU

0LOM|EDONVXWELOGQLQJHQV XWELOGQLQJVPDWHULDO JHV HWW P\FNHW EUD EH W\J .RPSHQGLHUQD DQYlQGV L EHW\GDQGH XWVWUlFNQLQJ lYHQ HIWHU NXU VHUQD L GHW O|SDQGH DUEHWHW gYQLQJVH[HPSOHQ WLOO I|UGMXSQLQJVNXUVHUQD KDU GRFN YDULW I|U HQVLGLJW LQULNWDGH PRW NRPPXQDOD KDQGOlJJDUH )UnJHOnGDQ Sn 0LOM|EDONVXWELOGQLQJHQV KHPVLGD KDU IUlPVW XSSVNDWWDWV DY NRPPXQHUQDV WMlQVWHPlQ

7lFNQLQJ

8WELOGQLQJ RP 0LOM|EDONHQ KDU KDIW P\FNHW VWRUW JHQRPVODJ EODQG GH I\UD VWXGHUDGH PnOJUXSSHUQD , ILJXU YLVDV DQGHOHQ VRP KDU XSSJLYLW DWW GH KDU JnWW Sn QnJRQ NXUV RP 0LOM|EDONHQ RFK KXU VWRU DQGHO DY GHVVD VRP JnWW Sn XWELOGQLQJ DQRUGQDG UHJLRQDOW LQRP UDPHQ I|U 0LOM| EDONVXWELOGQLQJHQ

)LJXU 7lFNQLQJVJUDGHQ L SURFHQW I|U XWELOGQLQJ RP 0LOM|EDONHQ EODQG HQNlWHQV I\UD PnOJUXSSHU

  *nWW Sn 9DUDY UHJLRQDOW 6YDUDW Sn
  XWELOGQLQJ LQRP 0LOM|EDONV HQNlWHQ
    XWELOGQLQJHQ  
0LOM|FKHIHU NRPPXQHU      
0LOM| 3ODQFKHIHU OlQVVW\UHOVHU      
2UGI|UDQGH L NRPPXQDOD      
PLOM|QlPQGHU      
1lULQJVOLYHWV PLOM|FKHIHU      
  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

%ODQG GH RIIHQWOLJD DNW|UHUQD VRP LQJnWW L XQGHUV|NQLQJHQ KDU

SURFHQW HOOHU IOHU VYDUDW DWW PDQ KDU XWELOGDW VLJ %ODQG 1lULQJVOLYHWV PLOM|FKHIHU lU DQGHOHQ QnJRW PLQGUH PHQ lQGn I|UKnOODQGHYLV K|J

.XUVHUQD VRP DQRUGQDWV UHJLRQDOW LQRP UDPHQ I|U 0LOM|EDONVXWELOG QLQJHQ KDU GRPLQHUDW VWRUW EODQG GH RIIHQWOLJD DNW|UHUQD PHG

SURFHQW DY GH VRP KDU XWELOGDW VLJ %ODQG 1lULQJVOLYHWV PLOM|FKHIHU KDU 0LOM|EDONVXWELOGQLQJHQV PDUNQDGVDQGHO YDULW I|UKnOODQGHYLV EO\JVDP

(Q YLVV UHVHUYDWLRQ PnVWH J|UDV I|U DQGHOHQ VRP KDU XWELOGDW VLJ HQOLJW ILJXU 0DQ NDQ LQWH PHG VlNHUKHW VlJD DWW WlFNQLQJVJUDGHQ lU Vn K|J VRP GHQ I|UVWD NROXPQHQ LQGLNHUDU 2UVDNHQ lU DWW ERUWIDOOHW L XQGHUV|NQLQJHQ lU SnIDOODQGH VWRUW I|U PLOM|QlPQGVRUGI|UDQGH RFK 1lULQJVOLYHWV PLOM|FKHIHU $QGHOHQ VRP IDNWLVNW KDU XWELOGDW VLJ VNXOOH GlUI|U NXQQD YDUD EHW\GOLJW OlJUH I|U GHVVD EnGD JUXSSHU RP VnGDQD VRP LQWH XWELOGDW VLJ YDOW DWW LQWH VYDUD Sn HQNlWHQ )|U NRPPXQDOD PLOM|FKHIHU RFK PLOM| SODQFKHIHU Sn OlQVVW\UHOVHUQD lU VYDUVIUHNYHQVHQ GlUHPRW K|J YLONHW JHU WLOOIUHGVVWlOODQGH VlNHUKHW L VOXWVDWVHQ0DUNQDGVDQGHOHQ I|U GH UHJLRQDOW DQRUGQDGH NXUVHUQD LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ SnYHUNDV LQWH DY VYDUVIUHNYHQVHQ HIWHUVRP GHQ HQEDUW DYVHU GH VRP IDNWLVNW KDU XWELOGDW VLJ

1lU GHW JlOOHU PDUNQDGVDQGHOHQ lU GHW IUDPI|U DOOW 1lULQJVOLYHWV PLOM|FKHIHU VRP KDU YlQW VLJ WLOO DQGUD XWELOGQLQJVDQRUGQDUH lQ GH UH JLRQDOD NXUVHUQD LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ (Q WUHGMHGHO DY PHGOHPPDUQD L 10& KDU InWW XWELOGQLQJHQ LQWHUQW KRV DUEHWV JLYDUHQ HQ IMlUGHGHO DY SULYDW NXUVDQRUGQDUH HQ IMlUGHGHO DY GH UHJLRQDOD NXUVHUQD LQRP 0LOM|EDONVXWELOGQLQJHQ RFK HQ IHPWHGHO DY EUDQVFKRUJDQLVDWLRQHU

8W|YHU GH UHJLRQDOW DQRUGQDGH NXUVHUQD KDU 0LOM|EDONVNRPPLWWpQ DQRUGQDW NXUVHU I|U OlUDUH WLOO GH UHJLRQDOD NXUVHUQD %ODQG PLOM| FKHIHUQD L NRPPXQHUQD RFK EODQG PLOM| SODQFKHIHU Sn OlQVVW\UHOVHU lU GHW SURFHQW DY GH VYDUDQGH VRP KDU JnWW Sn QnJRQ DY OlUDU NXUVHUQD )|U PLOM|FKHIHUQD L NRPPXQHUQD lU GHW JRG |YHUHQV VWlPPHOVH PHOODQ DQWDOHW VRP JnWW OlUDUXWELOGQLQJ RFK VRP VHGDQ IDNWLVNW KDU XQGHUYLVDW %ODQG PLOM| SODQFKHIHU Sn OlQVVW\UHOVHUQD lU GHW GlUHPRW QlVWDQ GXEEHOW Vn PnQJD DY GH VYDUDQGH VRP DQJHU DWW GH IDNWLVNW KDU DJHUDW VRP OlUDUH Sn PLQVW HQ DY GH UHJLRQDOW DQRUGQDGH NXUVHUQD lQ VRP KDU JnWW OlUDUXWELOGQLQJHQ %HKRYHW DWW KD PHG EHU|UGD OlQVVW\UHOVHUV FKHIHU VRP OlUDUH YHUNDU DOOWVn KD XQGHUVNDWWDWV SURMHNWHWV LQOHGQLQJ QlU OlUDUXWELOGQLQJHQ JHQRPI|UGHV

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

(WW DQQDW VlWW DWW EHG|PD XWELOGQLQJHQV WlFNQLQJ EODQG PnOJUXSSHUQD NDQ J|UDV JHQRP DWW lYHQ VH KXU FKHIHUQDV PHGDUEHWDUH KDU XWELOGDWV RP 0LOM|EDONHQ

)LJXU $QGHO L SURFHQW DY FKHIHUV PHGDUEHWDUH VRP JnWW Sn XWELOGQLQJ RP 0LOM|EDONHQ

0HGDUEHWDUH Sn gN *UN 0R+ 1R. )\V $QQDW
             
.RPPXQDO PLOM|I|UYDOWQLQJ            
             
0LOM| 3ODQHQKHW /lQV            
VW\UHOVH            
1lULQJVOLYHWV PLOM|HQKHWHU            
             

$Y WDEHOOHQ L ILJXU IUDPJnU DWW GU\JW SURFHQW DY PHGDUEHWDUQD Sn NRPPXQHUQDV PLOM|I|UYDOWQLQJDU RFK Sn OlQVVW\UHOVHUQDV PLOM| RFK SODQHQKHWHU KDU JnWW Sn *UXQGNXUVHQ GDJDU $Y WDEHOOHQ IUDPJnU lYHQ DWW PnQJD PHGDUEHWDUH KDU JnWW IOHUD NXUVHU , JHQRPVQLWW KDU EH U|UGD PHGDUEHWDUH L NRPPXQ RFK ODQGVWLQJ JnWW WYn NXUVHU YDU 8W|YHU *UXQGNXUVHQ lU GHW 0LOM| RFK +lOVD VRP KDU YDULW SRSXOlUDVW IUDPI|U DOOW Sn NRPPXQHUQDV PLOM|I|UYDOWQLQJDU

'H XWELOGQLQJDU VRP PHGDUEHWDUQD WLOO 1lULQJVOLYHWV PLOM|FKHIHU KDU JnWW KDU IUDPI|U YDULW HQGDJDUV RULHQWHULQJVNXUVHU KRV ROLND NXUV DUUDQJ|UHU /lQJUH XWELOGQLQJDU KDU YDULW P\FNHW VSDUVDPW I|UH NRPPDQGH ,VWlOOHW KDU PDQ VDWVDW Sn DQQDQ XWELOGQLQJ YLONHW IUlPVW LQQHElU LQWHUQD XWELOGQLQJDU

0RWVYDUDQGH IUnJRU KDU VWlOOWV WLOO RUGI|UDQGHQD L NRPPXQHUQDV PLOM|QlPQGHU PHQ GlU KDU IUnJDQ LVWlOOHW JlOOW DQGHOHQ OHGDP|WHU LQNO VXSSOHDQWHU VRP KDU JnWW Sn NXUV RP 0LOM|EDONHQ 'HQ JHQRPVQLWWOLJD DQGHOHQ EOHY SURFHQW

(Q I|OMGIUnJD KDU GHVVXWRP LQJnWW RP KXU PDQ KDU O|VW XWELOGQLQJV EHKRYHW I|U GH PHGDUEHWDUH OHGDP|WHU VRP LQWH KDU JnWW Sn NXUV RP 0LOM|EDONHQ (Q PDMRULWHW VYDUDU DWW DOOD LQWH EHK|YHU Jn Sn XWELOGQLQJ RFK DWW GHQ XWELOGQLQJ VRP UHGDQ JHQRPI|UWV HOOHU SODQHUDWV lU WLOO UlFNOLJ 0HOODQ RFK SURFHQW DY GH VRP KDU VYDUDW DQJHU GRFN DWW GH KDU HOOHU VND OlVD LQ ODJHQ Sn HJHQ KDQG HOOHU DWW DUEHWVJLYDUHQ NRPPHU DWW DQRUGQD XWELOGQLQJ +|JVW lU DQGHOHQ VRP VYDUDU Vn Sn OlQVVW\UHOVHUQD RFK EODQG 1lULQJVOLYHWV PLOM|FKHIHU

7LOO PLOM|FKHIHUQD L NRPPXQHUQD VWlOOGHV lYHQ HQ IUnJD RP KXU VWRU DQGHO DY GH VRP DUEHWDU PHG I\VLVN SODQHULQJ L NRPPXQHQ VRP KDU JnWW

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

XWELOGQLQJ RP 0LOM|EDONHQ $Y GH VRP KDGH HQ XSSIDWWQLQJ L IUnJDQ VYDUDGH SURFHQW DWW IOHUWDOHW KDGH JnWW Sn XWELOGQLQJ PHGDQ

SURFHQW VYDUDGH DWW GHW HQGDVW YDU HWW InWDO VRP KDGH JnWW Sn NXUV

6DPPDQIDWWQLQJ

œ0HOODQ RFK SURFHQW DY PLOM|FKHIHUQD L NRPPXQHUQD RFK DY PLOM| SODQFKHIHU Sn OlQVVW\UHOVHUQD KDU JnWW Sn GH UHJLRQDOW DQRUGQDGH NXUVHUQD LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ

œSURFHQW DY GHVVD FKHIHU KDU GHVVXWRP JnWW Sn XWELOGQLQJ L 0LOM|EDONVNRPPLWWpQV OlUDUNXUVHU

œ(QGDVW KlOIWHQ DY EHU|UGD FKHIHU Sn OlQVVW\UHOVHUQD VRP DJHUDGH VRP OlUDUH Sn GH UHJLRQDOD NXUVHUQD KDGH I|UVW JnWW Sn 0LOM|EDONV NRPPLWWpQV OlUDUXWELOGQLQJ

œ&KHIHUQDV PHGDUEHWDUH KDU L JHQRPVQLWW JnWW WYn NXUVHU YDU RP PLOM| EDONHQ

œ0HGDUEHWDUQD WLOO PLOM|FKHIHUQD L QlULQJVOLYHW KDU IUDPI|U DOOW JnWW HQGDJVNXUVHU RFK Gn IUlPVW KRV DQGUD XWELOGQLQJVDQRUGQDUH

œ8QJHIlU KlOIWHQ DY PLOM|QlPQGHUQDV OHGDP|WHU KDU GHOWDJLW L XWELOG QLQJ RP 0LOM|EDONHQ

œ%ODQG HQ IMlUGHGHO DY NRPPXQHUQD KDU HQGDVW HWW InWDO DY GH VRP DUEHWDU PHG I\VLVN SODQHULQJ JnWW Sn NXUV RP 0LOM|EDONHQ

1\WWD

, HQNlWHQ KDU PnOJUXSSHUQD JLYLWV P|MOLJKHW DWW VMlOYD YlUGHUD KXU EUD HOOHU GnOLJ NXQVNDSHQ RP 0LOM|EDONHQ lU LQRP VLQD RUJDQLVDWLRQHU 9lUGHULQJHQ DY NXQVNDSHQ VNXOOH J|UDV L UHODWLRQ WLOO DWW ODJHQ KDU YDULW L NUDIW L PLQGUH lQ HWW nU

)LJXU $QGHO L SURFHQW VRP DQVHU DWW NXQVNDSHQ RP 0LOM|EDONHQ L GHQ HJQD RUJDQLVDWLRQHQ lU P\FNHW HOOHU JDQVND EUD UHVSHNWLYH P\FNHW HOOHU JDQVND GnOLJ

  0\FNHW HOOHU 0\FNHW HOOHU JDQVND
  JDQVND EUD GnOLJ
0LOM|FKHIHU NRPPXQHU    
0LOM| 3ODQFKHIHU OlQVVW\UHOVHU    
,QUHJLD      
      .RQVXOWUDSSRUW WLOO 628
           
2UGI|UDQGH L NRPPXQDOD PLOM|QlPQGHU          
           
1lULQJVOLYHWV PLOM|FKHIHU          

)|U RUGI|UDQGHQ L PLOM|QlPQGHU IUnJDGHV HQGDVW RP RUGI|UDQGHV HJHQ NXQVNDS

0HVW Q|MGD PHG NXQVNDSHQ lU EHU|UGD FKHIHU Sn OlQVVW\UHOVHUQD 'HW lU YlUW DWW QRWHUD DWW LQJHQ DY GHP KDU DYJLYLW QnJRW QHJDWLYW VYDU bYHQ DQGHOHQ PLOM|FKHIHU L NRPPXQHU KDU HQ SRVLWLY YlUGHULQJ DY RUJDQLVD WLRQHQV NXQVNDS RP 0LOM|EDONHQ %ODQG 1lULQJVOLYHWV PLOM|FKHIHU EH G|PHU PDQ DWW NXQVNDSHQ QRJ LQWH lU Vn JRG VRP GHQ ERUGH 9LG HQ XSSGHOQLQJ DY VYDUHQ YLVDU GHW VLJ DWW GH VRP JnWW Sn NXUV LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ lU PHU Q|MGD SURFHQW lQ GH VRP KDU JnWW Sn NXUV KRV DQGUD XWELOGQLQJVDQRUGQDUH SURFHQW

0LQVW Q|MGD PHG VLQD NXQVNDSHU RP 0LOM|EDONHQ lU RUGI|UDQGHQ L NRPPXQHUQDV PLOM|QlPQGHU +lU DYVnJ IUnJDQ HQEDUW RUGI|UDQGHV HJHQ NXQVNDS RP PLOM|EDONHQ (QGDVW HQ WUHGMHGHO DQVHU DWW GHQ HJQD NXQ VNDSHQ lU P\FNHW HOOHU JDQVND EUD

)|U HQ P\QGLJKHW VRP WLOOlPSDU ODJ lU GHW YLNWLJW DWW EHKlUVND ODJHQ PLQVW OLND EUD HOOHU ElWWUH lQ PRWSDUWHQ L GHWWD IDOO YHUNVDPKHWV XW|YDUQD 3n IUnJDQ RP PDQ DQVHU VLJ KD HWW NXQVNDSVPlVVLJW I|UVWHJ IUDPI|U YHUNVDPKHWVXW|YDUQD QlU GHW JlOOHU PLOM|EDONHQ YDU VYDUHW UHODWLYW HQW\GLJW IUnQ NRPPXQHU RFK OlQVVW\UHOVHU 1lUPDUH SURFHQW DY EHU|UGD FKHIHU DQVHU DWW GHUDV HQKHWHU L P\FNHW HOOHU JDQVND VWRU XW VWUlFNQLQJ KDU GHWWD NXQVNDSVPlVVLJD I|UVWHJ 7LOO PHGOHPPDUQD L 1lULQJVOLYHWV PLOM|FKHIHU VWlOOGHV HQ OLNQDQGH IUnJD RFK GlU DQJDY

SURFHQW DWW PDQ L P\FNHW HOOHU JDQVND VWRU XWVWUlFNQLQJ KDGH OLND JRG NXQVNDS RP 0LOM|EDONHQ VRP WMlQVWHPlQQHQ KRV NRPPXQ OlQVVW\UHOVH +RV SURFHQW DY PLOM|FKHIHUQD DQVnJ PDQ DWW PDQ NXQGH PLQGUH lQ NRPPXQ OlQVVW\UHOVH PHGDQ SURFHQW DQVnJ VLJ KD ElWWUH NXQVNDSHU 'H DY 1lULQJVOLYHWV FKHIHU VRP KDU JnWW Sn NXUV LQRP UDPHQ I|U 0LOM| EDONVXWELOGQLQJHQ DQVHU DWW GH L VW|UUH XWVWUlFNQLQJ VWnU Sn VDPPD NXQ VNDSVPlVVLJD QLYn VRP P\QGLJKHWHUQD lQ GH VRP KDU DQOLWDW DQGUD XW ELOGQLQJVDQRUGQDUH

3n IUnJDQ RP JHQRPJnQJQD NXUVHU KDU ELGUDJLW WLOO P\QGLJKHWHQV XSSOHYGD NXQVNDSVPlVVLJD I|UVWHJ VYDUDU SURFHQW DY NRPPXQHQV PLOM|FKHIHU DWW NXUVHUQD KDU ELGUDJLW L P\FNHW HOOHU JDQVND VWRU XW VWUlFNQLQJ bYHQ Sn OlQVVW\UHOVHUQD JHU HQ VWRU DQGHO DY FKHIHUQD

SURFHQW GHWWD K|JD EHW\J WLOO XWELOGQLQJHQ

bYHQ HQ P\FNHW VWRU DQGHO SURFHQW DY PLOM|QlPQGHUQDV RUG I|UDQGH KDU XSSIDWWQLQJHQ DWW NRPPXQHQV PLOM|WMlQVWHPlQ KDU HWW NXQ

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

VNDSVPlVVLJW I|UVWHJ IUDPI|U YHUNVDPKHWVXW|YDUQD 2UGI|UDQGHQD KDU GHVVXWRP InWW IUnJDQ RP GH DQVHU DWW 0LOM|EDONHQ WLOOlPSDV OLNIRUPLJW PHOODQ NRPPXQHUQD L VLWW OlQ +lOIWHQ DY RUGI|UDQGHQD KDU LQWH NXQQDW VYDUD Sn IUnJDQ PHQ EODQG GH VRP VYDUDW KDU GU\JW

SURFHQW XSSIDWWQLQJHQ DWW WLOOlPSQLQJHQ lU OLNIRUPLJ L P\FNHW HOOHU JDQVND VWRU XWVWUlFNQLQJ

(Q DQQDQ YLNWLJ DVSHNW lU L YLONHQ XWVWUlFNQLQJHQ XWELOGQLQJHQ L HQ Q\ ODJ JHU XQGHUODJ I|U DWW VNDSD HQ VDPV\Q PHOODQ HQ P\QGLJKHWV PHGDUEHWDUH RP DQYlQGQLQJ RFK WRONQLQJ DY GHQ Q\D ODJHQ /lQV VW\UHOVHUQDV FKHIHU lU PHVW WLOOIUHGV SURFHQW DQVHU DWW JHQRPJnQJQD NXUVHU RP 0LOM|EDONHQ KDU XQGHUOlWWDW I|U GHQ HJQD HQKHWHQ DWW XW YHFNOD HQ VDPV\Q %ODQG PLOM|FKHIHU L NRPPXQHUQD HUKnOOV GHWWD VYDU DY SURFHQW EODQG 1lULQJVOLYHWV PLOM|FKHIHU DY SURFHQW RFK EODQG RUGI|UDQGHQ L NRPPXQHUQDV PLOM|QlPQGHU DY SURFHQW

, KDQGOlJJQLQJHQ DY lUHQGHQ HQOLJW 0LOM|EDONHQ ILQQV GHW nWHU NRPPDQGH PRPHQW YLONHW JHU P|MOLJKHW DWW E\JJD XSS UXWLQHU EnGH Sn P\QGLJKHWHU RFK YHUNVDPKHWVXW|YDUH (QNlWHQV PnOJUXSSHU KDU InWW UHGRYLVD KXU PDQ KDQWHUDW GHQQD IUnJD YLONHW YLVDV L ILJXU

)LJXU $QGHO L SURFHQW VRP KDU WDJLW IUDP HOOHU KnOOHU Sn DWW WD IUDP ULNWOLQMHU RFK PDOODU I|U KDQGOlJJQLQJ HQOLJ 0LOM|EDONHQ VDPW DQGHOHQ DY GHVV VRP KDU XWJnWW IUnQ PDWHULDO VRP HUKnOOLWV Sn NXUV RP 0LOM|EDONHQ

5LNWOLQMHU RFK PDOODU +DU WDJLW IUDP KnOOHU 9DUDY XWJnWW IUnQ
  Sn PDWHULDO IUnQ
    XWELOGQLQJ
0LOM|FKHIHU NRPPXQHU    
0LOM| 3ODQFKHIHU OlQVVW\UHOVHU    
1lULQJVOLYHWV PLOM|FKHIHU    

0LOM| SODQFKHIHU Sn OlQVVW\UHOVHUQD KDU YDULW PHVW DNWLYD L DWW VNDSD UXWLQHU RFK PDOODU RFK KDU L GHW DUEHWH L K|J XWVWUlFNQLQJ XWJnWW IUnQ PDWHULDO PDQ HUKnOO Sn XWELOGQLQJ RP 0LOM|EDONHQ %ODQG PLOM|FKHIHU L NRPPXQHU RFK KRV GH EHU|UGD I|UHWDJHQ lU GHW XQJHIlU KlOIWHQ VRP KDU WDJLW IUDP HOOHU KnOOHU Sn DWW WD IUDP ULNWOLQMHU RFK PDOODU +RV NRP PXQHUQDV PLOM|FKHIHU lU PDQ EHW\GOLJW PHU EHQlJHQ DWW L GHW DUEHWHW XWJn IUnQ PDWHULDO PDQ HUKnOOLW IUnQ XWELOGQLQJHQ RP 0LOM|EDONHQ lQ KRV 1lULQJVOLYHWV PLOM|FKHIHU

, HQNlWHQ KDU GHW LQJnWW IUnJRU RP YDG PDQ DQVHU DWW PDQ KDU OlUW VLJ RP 0LOM|EDONHQ 'H I\UD PnOJUXSSHUQDV VYDU ILQQV VDPPDQVWlOOGD L ILJXU 1lVWDQ VDPWOLJD DQVHU DWW XWELOGQLQJHQ KDU OlUW GHP KXU ODJHQ lU

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

XSSE\JJG 1lU GHW JlOOHU |YULJD DVSHNWHU lU VNLOOQDGHQ VWRU PHOODQ PnO JUXSSHUQD %HU|UGD FKHIHU Sn OlQVVW\UHOVHUQD RFK PLOM|FKHIHUQD L NRPPXQHUQD DQVHU VLJ L P\FNHW K|J XWVWUlFNQLQJ KD OlUW VLJ KLWWD L ODJ RFK I|URUGQLQJ %ODQG RUGI|UDQGH L NRPPXQHUQDV PLOM|QlPQGHU RFK EODQG 1lULQJVOLYHWV PLOM|FKHIHU lU GHW HQGDVW FD KlOIWHQ VRP VYDUDU Vn (Q WUROLJ I|UNODULQJ WLOO GHWWD lU DWW GHVVD WYn PnOJUXSSHU L KXYXGVDN KDU JnWW Sn HQGDJDUV NXUVHU PHGDQ PnQJD DY GH EHU|UGD FKHIHUQD Sn OlQV VW\UHOVHU RFK PLOM|I|UYDOWQLQJDU KDU JnWW HQ WUHGDJDUV JUXQGNXUV NRPS OHWWHUDW PHG HQ HOOHU IOHUD I|UGMXSQLQJVNXUVHU RP GDJDU YDUGHUD

)LJXU $QGHO L SURFHQW DY UHVSHNWLYH PnOJUXSS VRP DQVHU DWW XWELOG QLQJHQ KDU OlUW GHP ROLND DVSHNWHU DY 0LOM|EDONHQ

  /DJHQV +LWWD L ODJ .RQNUHW bPQHV 3ROLWLN
  XSSE\JJQDG I|URUGQLQJ WLOOlPSQ NXQVNDSHU )|UHWDJ
0LOM|FKHIHU          
NRPPXQHU          
0LOM| 3ODQFKHIHU          
OlQVVW\UHOVHU          
2UGI|UDQGH L          
NRPPXQDOD          
PLOM|QlPQGHU          
1lULQJVOLYHWV          
PLOM|FKHIHU          

.ROXPQHQ 3ROLWLN )|UHWDJ DYVHU SROLWLNHQV UROO LQRP UDPHQ I|U 0LOM|EDONHQ XWRP I|U 1lULQJVOLYHWV PLOM|FKHIHU GlU IUnJDQ JlOOGH YDG 0LOM|EDONHQ NRQNUHW LQQHElU I|U GHW HJQD I|UHWDJHW

$Y WUROLJHQ VDPPD VNlO DQVHU EHU|UGD FKHIHU LQRP OlQVVW\UHOVH RFK PLOM|I|UYDOWQLQJDU DWW GH L K|JUH XWVWUlFNQLQJ KDU OlUW VLJ RP GHQ NRQ NUHWD WLOOlPSQLQJHQ DY ODJHQ bYHQ QlU GHW JlOOHU DWW OlUD VLJ GHWDOM NXQVNDSHU LQRP GH HJQD lPQHVRPUnGHQD DQVHU GHVVD WYn JUXSSHU DWW GH KDU OlUW VLJ PHU PHQ VNLOOQDGHQ PRW PLOM|QlPQGHUQDV RUGI|UDQGH RFK 1lULQJVOLYHWV PLOM|FKHIHU lU LQWH IXOOW OLND VWRU GlU

, GHQ VLVWD NROXPQHQ L WDEHOOHQ L ILJXU lU UHODWLRQHUQD RPNDVWDGH 'HW EHURU Sn DWW IUnJDQ DYVHU RP PDQ OlUGH VLJ RP SROLWLNHQV UROO LQRP UDPHQ I|U 0LOM|EDONHQ +lU lU GHW QDWXUOLJW DWW GH VRP DUEHWDU SROLWLVNW RFNVn JHU K|JVW YlUGHULQJ DY YDG PDQ KDU OlUW VLJ

(WW DY PnOHQ PHG 0LOM|EDONVXWELOGQLQJHQ lU DWW ELGUD WLOO DWW GHW VNDSDV QlWYHUN PHOODQ GH VRP DUEHWDU PHG QnJRQ IRUP DY WLOOlPSQLQJ DY PLOM|EDONHQ , HQNlWHQ KDU GlUI|U LQJnWW HQ IUnJD RP JHQRPJnQJQD NXUVHU JLYLW XSSKRY NRQWDNWHU KRV P\QGLJKHWHU I|UHWDJ HOOHU SROLWLNHU

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

%ODQG EHU|UGD FKHIHU Sn OlQVVW\UHOVHU RFK PLOM|I|UYDOWQLQJDU lU GHW FD

SURFHQW VRP VYDUDU DWW PDQ KDU InWW NRQWDNWHU L QnJRW HOOHU IOHUD IDOO %ODQG PLOM|QlPQGHUQDV RUGI|UDQGH SURFHQW RFK 1lULQJVOLYHWV PLOM|FKHIHU SURFHQW lU GHW SnWDJOLJW IlUUH VRP DQVHU DWW XWELOG QLQJHQ ELGUDJLW WLOO DWW XW|ND NRQWDNWQlWHW bYHQ GHQQD VNLOOQDG EHURU WUROLJHQ Sn DWW GH WYn VHQDUH PnOJUXSSHUQD KDU GHOWDJLW L XWELOGQLQJHQ EHW\GOLJW IlUUH GDJDU lQ EHU|UGD FKHIHU Sn OlQVVW\UHOVHU RFK PLOM| I|UYDOWQLQJDU

8SSOHYHOVHQ DY Q\WWD DY XWELOGQLQJHQ VNXOOH lYHQ NXQQD YDUD EH URHQGH DY QlU XWELOGQLQJHQ JHQRPI|UV ,NUDIWWUlGDQGHW DY ODJHQ VNHGGH YLG nUVVNLIWHW RFK GHQ UHJLRQDOD XWELOGQLQJHQ QnJRQ PnQDG WLGLJDUH , HQNlWHQ KDU GlUI|U LQJnWW HQ IUnJD RP KXU VWRU EHW\GHOVH GHW KDGH KDIW RP XWELOGQLQJHQ KDGH NRPPLW LJnQJ HWW KDOYnU WLGLJDUH )|U EHU|UGD FKHIHU Sn OlQVVW\UHOVHU RFK PLOM|I|UYDOWQLQJDU VYDUDU

SURFHQW DWW GHW KDGH KDIW P\FNHW HOOHU JDQVND VWRU EHW\GHOVH 0LQGUH DQJHOlJHW KDGH GHW YDULW I|U SROLWLNHU SURFHQW RFK 1lULQJVOLYHWV PLOM|FKHIHU SURFHQW

6DPPDQIDWWQLQJ

œ3n OlQVVW\UHOVHUQD lU EHU|UGD FKHIHU L VWRUW VHWW Q|MGD PHG HQKHWHUQDV NXQVNDS RP 0LOM|EDONHQ PHG WDQNH Sn DWW GHW JnWW PLQGUH lQ HWW nU VHGDQ EDONHQ LQI|UGHV

œ2UGI|UDQGHQD L PLOM|QlPQGHUQD lU LQWH VlUVNLOW WLOOIUHGV PHG VLQD NXQVNDSHU RP 0LOM|EDONHQ

œ'H DY 1lULQJVOLYHWV PLOM|FKHIHU VRP JnWW Sn NXUV LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ lU PHU Q|MGD PHG VLQD NXQVNDSHU SURFHQW lQ GH VRP KDU JnWW Sn NXUV KRV DQGUD XWELOGQLQJVDQRUGQDUH SUR FHQW

œ0\QGLJKHWHUQD RFK I|UHWDJHQ lU HQLJD RP DWW P\QGLJKHWHUQD KDU HWW NXQVNDSVPlVVLJW I|UVWHJ IUDPI|U YHUNVDPKHWVXW|YDUQD 0LOM|EDONV XWELOG QLQJHQ KDU VSHODW HQ P\FNHW VWRU UROO I|U DWW XSSQn GHWWD 'HWWD lU GH WLOOIUnJDGH HQLJD RP

œ0LOM|EDONVXWELOGQLQJHQ KDU L VWRU XWVWUlFNQLQJ ELGUDJLW WLOO DWW NRP PXQHU RFK OlQVVW\UHOVHU LQWHUQW KDU NXQQDW VNDSD HQ VDPV\Q RP 0LOM| EDONHQV LQQHE|UG RFK WLOOlPSQLQJ

œ/lQVVW\UHOVHUQD OLJJHU OlQJVW IUDP L DWW WD IUDP ULNWOLQMHU RFK PDOODU I|U KDQGOlJJQLQJ DY PLOM|EDONHQ 0DWHULDO IUnQ 0LOM|EDONXWELOGQLQJHQ KDU DQYlQWV L VWRU XWVWUlFNQLQJ

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

œ$OOD I\UD PnOJUXSSHU DQVHU VLJ L VWRU XWVWUlFNQLQJ KD OlUW VLJ ODJHQV XSSE\JJQDG XQGHU NXUVHUQD RP 0LOM|EDONHQ 9DG PDQ OlUW VLJ L |YULJ EHURU Sn NXUVHUQDV LQULNWQLQJ RFK OlQJG

œ&D SURFHQW DY EHU|UGD FKHIHU Sn OlQVVW\UHOVHU RFK PLOM|FKHIHU L NRPPXQHU DQVHU VLJ KD NQXWLW Q\D NRQWDNWHU XQGHU XWELOGQLQJHQ

œ0HU lQ KlOIWHQ DY EHU|UGD FKHIHU Sn OlQVVW\UHOVHU RFK PLOM|FKHIHU L NRPPXQHU DQVHU DWW GHW KDGH KDIW P\FNHW HOOHU JDQVND VWRU EHW\GHOVH RP NXUVHUQD KDGH NRPPLW LJnQJ HWW KDOYnU WLGLJDUH

.YDOLWHW

.YDOLWHWHQ Sn GHQ XWELOGQLQJ VRP PDQ KDU JHQRPJnWW KDU L HQNlWHUQD EHKDQGODWV Sn WYn ROLND VlWW , HQ DY IUnJRUQD KDU PnOJUXSSHUQD InWW YlU GHUD NYDOLWHWHQ Sn GH ROLND NXUVHUQD LQRP UDPHQ I|U 0LOM|EDONVXWELOG QLQJHQ 5HVXOWDWHW YLVDV L ILJXU

)LJXU $QGHO L SURFHQW DY PnOJUXSSHUQD VRP lU JDQVND HOOHU P\FNHW Q|MGD VRP KHOKHW PHG ROLND NXUVHU RP 0LOM|EDONHQ

  gN *UN 0R+ 1R. )\V $QY 0%
0LOM|FKHIHU            
NRPPXQHU            
0LOM| 3ODQFKHIHU            
OlQVVW\UHOVHU            
2UGI|UDQGH L PLOM|            
QlPQGHU            

, HQNlWHQ WLOO SROLWLNHUQD JMRUGHV LQJHQ nWVNLOOQDG PHOODQ NXUVHUQD 0DQ KDU L KXYXGVDN JnWW |YHUVLNWVNXUVHQ

6RP IUDPJnU DY WDEHOOHQ L ILJXU KDU HQ VWRU DQGHO DY PnOJUXSSHUQD HQ P\FNHW SRVLWLY HUIDUHQKHW DY NXUVHUQD 'HW lU HQGDVW YlUGHULQJHQ DY |YHUVLNWVNXUVHQ KRV EHU|UGD FKHIHU Sn OlQVVW\UHOVHUQD RFK YlUGHULQJHQ DY 0LOM|EDONHQ RFK GHQ I\VLVND SODQHULQJHQ KRV NRPPXQHUQDV PLOM|FKHIHU VRP JHV HWW LQWH KHOW IXOOJRWW EHW\J

%ODQG 1lULQJVOLYHWV PLOM|FKHIHU YDU GHW HQGDVW HQ WUHGMHGHO VRP KDGH HUKnOOLW VLQ XWELOGQLQJ KRV QnJRQ DY GH UHJLRQDOD DQRUGQDUQD HOOHU

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

L 0LOM|EDONVXWELOGQLQJHQV OlUDUXWELOGQLQJDU gYULJD KDGH JnWW Sn NXUV KRV DQGUD DQRUGQDUH *HQRP DWW GHOD XSS VYDUHQ IUnQ 1lULQJVOLYHWV PLOM|FKHIHU Sn VnGDQD VRP KDU JnWW Sn NXUV LQRP UDPHQ I|U 0LOM|EDONV XWELOGQLQJHQ RFK VnGDQD VRP KDU InWW XWELOGQLQJ YLD DQGUD XWELOGQLQJV DQRUGQDUH NDQ VNLOOQDGHU L XSSOHYG NYDOLWHW MlPI|UDV 'HWWD YLVDV L ILJXU

)LJXU $QGHO L SURFHQW VRP lU Q|MGD PLVVQ|MGD EODQG GH DY 1lULQJV OLYHWV PLOM|FKHIHU VRP KDU JnWW Sn NXUV

  GDJVNXUV GDJVNXUV
  0\FNHW 0\FNHW 0\FNHW 0\FNHW
  JDQVND Q|MG JDQVND JDQVND Q|MG JDQVND
    PLVVQ|MG   PLVVQ|MG
,QRP UDPHQ I|U 0LOM|EDONV        
XWELOGQLQJHQ        
$QQDQ XWELOGQLQJVDQRUGQDUH        

'HW YLVDU VLJ DWW NXUVHUQD VRP KDU DQRUGQDWV LQRP UDPHQ I|U 0LOM| EDONVXWELOGQLQJHQ InU ElWWUH EHW\J DY 1lULQJVOLYHWV PLOM|FKHIHU lQ YDG PDQ JHU NXUVHU KRV DQGUD XWELOGQLQJVDQRUGQDUH $WW GHWWD JlOOHU

GDJDUV NXUVHU lU QDWXUOLJW HIWHUVRP NXUVHU DY GHQQD OlQJG IUlPVW KDU KnOOLWV LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ 'HW lU GlUHPRW LQWUHV VDQW DWW lYHQ HQGDJVNXUVHQ LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ JHV HWW VDPPDQWDJHW ElWWUH EHW\J lQ PRWVYDUDQGH NXUVHU KRV DQGUD XWELOG QLQJVDQRUGQDUH 7\GOLJDVW lU VNLOOQDGHQ QlU GHW JlOOHU DQGHOHQ VRP lU JDQVND HOOHU P\FNHW PLVVQ|MGD

, HQNlWHQ EHU|UGHV NYDOLWHWHQ lYHQ JHQRP DWW PnOJUXSSHUQD ILFN DQJH RP GHW IDQQV QnJRW VlUVNLOW XQGHU NXUVHUQD VRP PDQ W\FNWH YDU EUD HOOHU GnOLJW 0HG QnJRW XQGDQWDJ lU GHW In VRP DQJLYLW DWW PDQ DQVHU QnJRW YDUD GnOLJW 6YDUHQ RP YDG PDQ DQVHU YDUD SRVLWLYW IUDPJnU DY ILJXU

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

)LJXU $QGHO L SURFHQW VRP DQVHU DWW ROLND DVSHNWHU KRV NXUVHUQD KDU YDULW EUD

  5HOHYDQV       8SSOlJJQLQJ .RPSHQGLHU   gYQLQJV
                      H[HPSHO
0LOM|FKHIHU NRP              
PXQHU                      
0LOM| 3ODQFKHIHU              
OlQVVW\UHOVHU                      
2UGI|UDQGH L NRP              
PXQDOD PLOM|QlPQGHU                      
1lULQJVOLYHWV              
PLOM|FKHIHU                      
0LOM|EDONVXWE                      
1lULQJVOLYHWV              
PLOM|FKHIHU $QQDQ                      
NXUVDQRUGQ                      
           
  /lUDUQDV MXULGLVND   /lUDUQDV lPQHV   3UDNWLVND DUUDQJH
  NRPSHWHQV     NRPSHWHQV     PDQJ
0LOM|FKHIHU NRP                
PXQHU                      
0LOM| 3ODQFKHIHU                
OlQVVW\UHOVHU                      
2UGI|UDQGH L NRP                
PXQDOD PLOM|QlPQGHU                      
1lULQJVOLYHWV                
PLOM|FKHIHU                      
0LOM|EDONVXWE                      
1lULQJVOLYHWV                
PLOM|FKHIHU $QQDQ                      
NXUVDQRUGQ                      

$Y WDEHOOHQ L ILJXU IUDPJnU DWW NRPSHQGLHU RFK NXUVPDWHULDO LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ KDU InWW P\FNHW RPG|PHQ 'HW lU LQWUHVVDQW DWW MlPI|UD PHG GH PHGOHPPDU L 1lULQJVOLYHWV PLOM|FKHIHU VRP KDU JnWW Sn NXUV KRV DQGUD DQRUGQDUH 'lU lU GHW HQ SnIDOODQGH OnJ DQGHO VRP KDU VYDUDW DWW PDQ XSSIDWWDW NRPSHQGLHU RFK NXUVPDWHULDO VRP EUD

.XUVHUQDV UHOHYDQV lU GlUHIWHU GHQ DVSHNW VRP IOHVW KDU W\FNW YDULW EUD +lU YLVDU VLJ GRFN DWW RUGI|UDQGHQD L PLOM|QlPQGHUQD LQWH KDU ULNWLJW VDPPD SRVLWLYD V\Q VRP |YULJD PnOJUXSSHU VRP KDU XWELOGDWV LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

bYHQ OlUDUQDV lPQHVNRPSHWHQV RPQlPQV DY PLQVW KlOIWHQ VRP EUD +lU lU RPG|PHW MlPQW I|UGHODW KRV PnOJUXSSHUQD

gYQLQJVH[HPSOHQ OlUDUQDV MXULGLVND NRPSHWHQV RFK GH SUDNWLVND DUUDQJHPDQJHQ lU GH DVSHNWHU VRP PDQ PLQVW RIWD DQVHWW YDUD EUD gYQLQJVH[HPSOHQ YHUNDU QlVWDQ KD YDULW DQSDVVDGH IUlPVW I|U NRP PXQHUQDV EHKRY 'H SUDNWLVND DUUDQJHPDQJHQ KDU SDVVDW SROLWLNHUQD PLQVW EUD /lUDUQDV MXULGLVND NRPSHWHQV KDU IUDPI|U DOOW YDULW VW\UNDQ KRV XWELOGQLQJVDQRUGQDUH YLG VLGDQ DY 0LOM|EDONVXWELOGQLQJHQ

6DPPDQIDWWQLQJ

œ(Q P\FNHW VWRU DQGHO DY PnOJUXSSHUQD KDU HQ SRVLWLY HUIDUHQKHW DY NXUVHUQD LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ

œ%HU|UGD FKHIHU Sn OlQVVW\UHOVHUQD RFK NRPPXQHUQDV PLOM|FKHIHU JHU GRFN LQWH gYHUVLNWVNXUVHQ UHVSHNWLYH 0LOM|EDONHQ RFK GHQ I\VLVND SODQHULQJHQ HWW KHOW IXOOJRWW EHW\J

œ.XUVHUQD VRP KDU DQRUGQDWV LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ InU ElWWUH EHW\J DY 1lULQJVOLYHWV PLOM|FKHIHU lQ YDG PDQ JHU NXUVHU KRV DQGUD XWELOGQLQJVDQRUGQDUH

œ0LOM|EDONVXWELOGQLQJHQV XWELOGQLQJVPDWHULDO JHV HWW P\FNHW EUD EHW\J

œ2UGI|UDQGHQD L PLOM|QlPQGHUQD lU LQWH OLND SRVLWLYD WLOO NXUVHUQDV UHOHYDQV VRP |YULJD PnOJUXSSHU

œgYQLQJVH[HPSOHQ YHUNDU QlVWDQ KD YDULW DQSDVVDGH IUlPVW I|U NRP PXQHUQDV EHKRY

œ'H SUDNWLVND DUUDQJHPDQJHQ KDU SDVVDW SROLWLNHUQD PLQVW EUD

œ/lUDUQDV MXULGLVND NRPSHWHQV KDU IUDPI|U DOOW YDULW VW\UNDQ KRV XWELOG QLQJVDQRUGQDUH YLG VLGDQ DY 0LOM|EDONVXWELOGQLQJHQ

.XUVPDWHULDO RFK ,QIRUPDWLRQ

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

.XUVPDWHULDO VRP KDU DQYlQWV LQRP UDPHQ I|U 0LOM|EDONVXWELOGQLQJHQ KDU WDJLWV IUDP DY ROLND DUEHWVJUXSSHU NQXWQD WLOO 0LOM|EDONVNRPPLWWpQ $PELWLRQHQ IUnQ NRPPLWWpQ KDU YDULW DWW NXUVNRPSHQGLHUQD VND NXQQD DQYlQGDV VRP XSSVODJVYHUN L KDQGOlJJDUQDV O|SDQGH DUEHWH bYHQ EL ODJRUQD PHG ODJ I|URUGQLQJ KDQGOlJJQLQJVlUHQGHQ VNXOOH NXQQD DQ YlQGDV Sn GHWWD VlWW

, HQNlWHQ KDU GH ROLND PnOJUXSSHUQD InWW VYDUD Sn KXU GH LQRP VLQD HQKHWHU DQYlQGHU NXUVNRPSHQGLHUQD L GHW O|SDQGH DUEHWHW HIWHU NXU VHUQD 5HVXOWDWHW YLVDV L ILJXU

)LJXU $QGHOHQ L SURFHQW VRP LQRP VLQD HQKHWHU DQYlQGHU NXUV NRPSHQGLHU YDUMH GDJ HOOHU YDUMH YHFND L GHW O|SDQGH DUEHWHW

.XUVNRPSHQGLHU gN *UN 0R+ 1R. )\V $QY 0%
0LOM|I|UYDOWQLQJDU            
0LOM| 3ODQHQKHWHU OlQVVW\UHOVHU            

1lU GHWWD VNULYV KDU HQGDVW OlUDUNXUVHUQD L $WW DQYlQGD PLOM|EDONHQ KnOOLWV

1lULQJVOLYHWV PLOM|HQKHWHU DQYlQGHU NRPSHQGLHUQD EHW\GOLJW PHU VlOODQ lQ YDG PDQ J|U Sn P\QGLJKHWHUQD .RPSHQGLHUQD I|U gYHUVLNWVNXUVHQ RFK *UXQGNXUVHQ DQYlQGV YDUGHUD QnJRQ JnQJ SHU PnQDG DY FD SUR FHQW

2UGI|UDQGHQD L PLOM|QlPQGHUQD KDU LVWlOOHW InWW IUnJDQ RP GH DQ YlQGHU NXUVNRPSHQGLHUQD IUnQ 0LOM|EDONVXWELOGQLQJHQ L VLWW SROLWLVND DUEHWH SURFHQW VYDUDU DWW NRPSHQGLHUQD DQYlQGV RIWD HOOHU LEODQG

9LG VLGDQ DY NXUVNRPSHQGLHUQD KDU GHW lYHQ IXQQLWV WUH NRPSHQGLHU VRP KDU YDULW ELODJRU WLOO NXUVNRPSHQGLHUQD 'HW JlOOHU ODJWH[WHQ VDPWOLJD I|URUGQLQJDU VDPODGH L HWW NRPSHQGLXP RFK KDQGOlJJQLQJV VFKHPDQ I|U ROLND lUHQGHW\SHU bYHQ HQ IUnJD RP GHWWD LQJLFN L HQNlWHQ RFK UHVXOWDWHW YLVDV L ILJXU

)UnJD $QGHOHQ L SURFHQW VRP LQRP VLQD HQKHWHU DQYlQGHU |YULJD NRPSHQGLHU YDUMH GDJ HOOHU YDUMH YHFND L GHW O|SDQGH DUEHWHW

gYULJD NRPSHQGLHU /DJWH[W )|URUGQLQJDU +DQGOlJJQLQJ
0LOM|I|UYDOWQLQJDU      
0LOM| 3ODQHQKHWHU OlQV      
VW\UHOVHU      
0LOM|HQKHWHU Sn I|UHWDJ      
  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

6RP IUDPJnU DY WDEHOOHUQD L ILJXU RFK lU NRPSHQGLHUQD PHG ODJWH[WHQ RFK I|URUGQLQJDUQD GH PHVW IOLWLJW DQYlQGD DY DOOD NRPSHQGLHU VRP WDJLWV IUDP LQRP 0LOM|EDONVXWELOGQLQJHQ bYHQ Sn GH SULYDWD I|UHWDJHQ LQRP 1lULQJVOLYHWV PLOM|FKHIHU DQYlQGHU PDQ GHP I|UKnOODQGHYLV RIWD

0LOM|EDONVXWELOGQLQJHQ KDU lYHQ JLYLW XW HWW NRPSHQGLXP PHG IUnJRU RFK VYDU VRP lU HWW XUYDO DY GH IUnJRU VRP VWlOOWV DY EHV|NDUH L IUnJHOnGDQ Sn 0LOM|EDONVXWELOGQLQJHQV KHPVLGD RFK VRP EHVYDUDWV DY 0LOM|EDONVXWELOGQLQJHQV NDQVOL %ODQG GH I\UD PnOJUXSSHUQD L GHQQD XQGHUV|NQLQJ lU GHW IUDPI|U DOOW PLOM|FKHIHUQD L NRPPXQHUQD

SURFHQW VRP DQYlQW GHWWD NRPSHQGLXP 'H IOHVWD DY GHVVD DQYlQGHU GHW OLWH Gn RFK Gn QlU GH XQGUDU |YHU QnJRW VRP GH LQWH KDU VW|WW Sn WLGLJDUH %ODQG EHU|UGD FKHIHU Sn OlQVVW\UHOVHUQD lU GHW SURFHQW VRP DQYlQW NRPSHQGLHW RFK EODQG 1lULQJVOLYHWV PLOM|FKHIHU lU GHW SUR FHQW

, HQNlWHQ KDU GHW lYHQ LQJnWW HQ IUnJD RP KXU PnOJUXSSHUQD KDU DQ YlQW 0LOM|EDONVXWELOGQLQJHQV KHPVLGD 'HQ PHVW IUHNYHQWD PnOJUXSSHQ lU EHU|UGD FKHIHU Sn OlQVVW\UHOVHUQD 'U\JW KlOIWHQ EHV|NHU KHPVLGDQ YDUMH YHFND %ODQG 0LOM|FKHIHUQD L NRPPXQHUQD JnU HQ WUHGMHGHO LQ PLQVW YDUMH YHFND PHGDQ DQGHOHQ lU SURFHQW I|U 1lULQJVOLYHWV PLOM| FKHIHU %ODQG RUGI|UDQGHQ L PLOM|QlPQGHUQD KDU HQ WUHGMHGHO EHV|NW KHPVLGDQ HQ HOOHU IOHUD JnQJHU

+RV EHU|UGD FKHIHU Sn OlQVVW\UHOVHUQD lU ODJWH[WHQ I|URUGQLQJDUQD RFK lQGULQJDU L ODJ RFK I|URUGQLQJ GH PHVW SRSXOlUD Sn KHPVLGDQ +RV PLOM|FKHIHUQD L NRPPXQHUQD lU GHW LVWlOOHW IUnJHOnGDQ VRP lU PHVW SRSXOlU

0LOM|EDONVXWELOGQLQJHQV NRPSHQGLHU LQIRUPDWLRQVPDWHULDO RFK KHPVLGD lU WLOOJlQJOLJD I|U NRPPXQHU RFK OlQVVW\UHOVHU DWW DQYlQGD RFK KlQYLVD WLOO , HQNlWHQ KDU LQJnWW HQ IUnJD RP L YLONHQ XWVWUlFNQLQJ PDQ KlQYLVDU YHUNVDPKHWVXW|YDUH PHGLD RFK DOOPlQKHW DWW OlVD PHU L GHWWD PDWHULDO 0HOODQ RFK SURFHQW DY EHU|UGD FKHIHU Sn OlQVVW\UHOVHUQD RFK PLOM|FKHIHUQD Sn PLOM|I|UYDOWQLQJDUQD DQJHU DWW GH J|U VnGDQD KlQYLVQLQJDU UHJHOEXQGHW GYV YDUMH YHFND HOOHU YDUMH PnQDG

6DPPDQIDWWQLQJ

œ0LOM|EDONVXWELOGQLQJHQV NRPSHQGLHU DQYlQGV L EHW\GDQGH XWVWUlFN QLQJ L GHW O|SDQGH DUEHWHW HIWHU NXUVHUQD

œ.RPSHQGLHUQD PHG ODJWH[WHQ RFK I|URUGQLQJDUQD lU GH PHVW IOLWLJW DQYlQGD

,QUHJLD  

.RQVXOWUDSSRUW WLOO 628

œ.RPSHQGLHW PHG VDPPDQVWlOOGD IUnJRU RFK VYDU IUnQ 0LOM|EDONV XWELOGQLQJHQV KHPVLGD OlVHV IUlPVW DY PLOM|FKHIHUQD L NRPPXQHUQD

œ%HU|UGD FKHIHU Sn OlQVVW\UHOVHUQD lU GH IOLWLJDVWH EHV|NDUQD Sn 0LOM| EDONVXWELOGQLQJHQV KHPVLGD 'HW lU ODJWH[W I|URUGQLQJDU RFK lQG ULQJDU VRP lU YLNWLJDVW )|U PLOM|FKHIHUQD L NRPPXQHUQD lU IUnJHOnGDQ YLNWLJDVW

œ(Q WUHGMHGHO DY EHU|UGD FKHIHU Sn OlQVVW\UHOVHUQD RFK PLOM|FKHIHUQD L NRPPXQHUQD KlQYLVDU YHUNVDPKHWVXW|YDUH PHGLD HOOHU DOOPlQKHW UH JHOEXQGHW WLOO QnJRW PDWHULDO VRP 0LOM|EDONVXWELOGQLQJHQ KDU WDJLW IUDP

)UDPWLGHQ

0LOM|EDONVNRPPLWWpQ lU SODQHUDG DWW XSSK|UD YLG XWJnQJHQ DY

)UDPWLGD XWELOGQLQJ RP PLOM|EDONHQ PnVWH GlUI|U EHGULYDV XWDQ VW|G DY 0LOM|EDONVNRPPLWWpQ , HQNlWHQ LQJLFN QnJUD IUnJRU I|U DWW NlQQD DY KXU GH ROLND PnOJUXSSHUQD UHGDQ LGDJ VHU DWW GHW ILQQV I|U EHKRY DY IRUWVDWW XWELOGQLQJ

0HVW DQJHOlJQD RP DWW UHGDQ LGDJ DQRUGQD PHU XWELOGQLQJ lU RUG I|UDQGHQD L NRPPXQHUQDV PLOM|QlPQGHU +lOIWHQ DQVHU DWW L VWRUW VHWW DOOD DY QlPQGHQV OHGDP|WHU EHK|YHU \WWHUOLJDUH XWELOGQLQJ bYHQ EODQG PLOM|FKHIHUQD L NRPPXQHUQD lU EHKRYHW VWRUW UHGDQ LGDJ SURFHQW DY PLOM|FKHIHUQD DQVHU DWW L VWRUW VHWW DOOD GHUDV PHGDUEHWDUH EHK|YHU \WWHUOLJDUH XWELOGQLQJ

%ODQG EHU|UGD FKHIHU Sn OlQVVW\UHOVHUQD lU GHW HQGDVW SURFHQW VRP DQVHU DWW L VWRUW VHWW DOOD PHGDUEHWDUH EHK|YHU PHU XWELOGQLQJ YLONHW lU QnJRW PLQGUH lQ KXU 1lULQJVOLYHWV PLOM|FKHIHU XSSIDWWDU XWELOGQLQJV EHKRYHW EODQG VLQD PHGDUEHWDUH

3ROLWLNHUQD VHU DWW EHKRYHW DY XWELOGQLQJ ElVW VNXOOH NXQQD WLOOJRGRVHV JHQRP

œ(UIDUHQKHWVXWE\WH UHJLRQDOW PHOODQ WMlQVWHPlQ RFK SROLWLNHU

SURFHQW

œ6HPLQDULHU RP I|UlQGULQJDU L ODJHQ RFK I|URUGQLQJDUQD SURFHQW

œ8SSUHSQLQJ DY EHILQWOLJD NXUVHU SURFHQW

3URFHQWVDWVHUQD DYVHU KXU VWRU DQGHO VRP DQVHU DWW GHQQD XWELOGQLQJV IRUP lU P\FNHW HOOHU JDQVND YLNWLJ

  ,QUHJLD

.RQVXOWUDSSRUW WLOO 628

0LOM|FKHIHUQD L NRPPXQHUQD SULRULWHUDU LVWlOOHW I|OMDQGH LQVDWVHU

œ1\D VSHFLDOLQULNWDGH NXUVHU VHPLQDULHU L VDNIUnJRU HOOHU lPQHVRPUnGHQ

SURFHQW

œ6|NP|MOLJKHW Sn KHPVLGD EODQG ODJ I|URUGQLQJ I|UHVNULIWHU UlWWVIDOO RFK lQGULQJDU SURFHQW

œ6HPLQDULHU RP I|UlQGULQJDU L ODJHQ RFK I|URUGQLQJDUQD SURFHQW

%HU|UGD FKHIHU Sn OlQVVW\UHOVHUQD RFK 1lULQJVOLYHWV PLOM|FKHIHU KDU VDPPD SULRULWHULQJDU VRP PLOM|FKHIHUQD L NRPPXQHUQD PHQ VYDUDU LQWH PHG VDPPD NUDIWLJD HIWHUWU\FN

6DPPDQIDWWQLQJ

œ, NRPPXQHUQD lU EHKRYHW DY XWELOGQLQJ IRUIDUDQGH VWRUW EnGH EODQG SROLWLNHU RFK WMlQVWHPlQ

Tillbaka till dokumentetTill toppen