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"0:, @5=B015;L=>ABL ?@>406 A>:@0B8;0AL =0 3,49%, G8AB0O @5=B015;L=>ABL  =0 3,68%, @5=B015;L=>ABL 0:B82>2  =0 4,06%, @5=B015;L=>ABL A>1AB25==>3> :0?8B0;0  =0 8,93%. A:;NG5=85 A>AB02;O5B 20;>20O @5=B015;L=>ABL ?@54?@8OB8O - >=0 2K@>A;0 =0 6,96%. @>2545< D0:B>@=K9 0=0;87 @5=B015;L=>AB8 ?@>406, 8AE>4O 87 A;54CNI59 D>@<C;K:  EMBED Equation.3  345  - 2K@CG:0 >B ?@>4068 B>20@>2, ?@>4C:F88, @01>B, CA;C3; ! - A515AB>8<>ABL ?@>40==KE B>20@>2, ?@>4C:F88, @01>B, CA;C3;   - :><<5@G5A:85 @0AE>4K; #   C?@02;5=G5A:85 @0AE>4K. 'B>1K >?@545;8BL, :0: :064K9 D0:B>@ ?>2;8O; =0 @5=B015;L=>ABL ?@>406, =5>1E>48<> >ACI5AB28BL A;54CNI85 @0AG5BK. 1. ;8O=85 87<5=5=8O 2K@CG:8 >B ?@>4068 =0 R:  EMBED Equation.3  345 B1 8 0 - >BG5B=0O 8 1078A=0O 2K@CG:0; !1 8 !0 - >BG5B=0O 8 1078A=0O A515AB>8<>ABL; KP1 8  0 - >BG5B=K5 8 1078A=K5 :><<5@G5A:85 @0AE>4K; # 1 8 # 0 - C?@02;5=G5A:85 @0AE>4K 2 >BG5B=>< 8 1078A=>< ?5@8>40E.  EMBED Equation.3  2. ;8O=85 87<5=5=8O A515AB>8<>AB8 ?@>4068 =0 R:  EMBED Equation.3   EMBED Equation.3  3. ;8O=85 87<5=5=8O :><<5@G5A:8E @0AE>4>2 =0 @5=B015;L=>ABL ?@>406 =0 R:  EMBED Equation.3   EMBED Equation.3  4. ;8O=85 87<5=5=8O C?@02;5=G5A:8E @0AE>4>2 =0 @5=B015;L=>ABL ?@>406 =0 R:  EMBED Equation.3   EMBED Equation.3  !>2>:C?=>5 2;8O=85 D0:B>@>2 A>AB02;O5B:  EMBED Equation.3   EMBED Equation.3  "0:8< >1@07><, =081>;LH55 2;8O=85 =0 87<5=5=85 @5=B015;L=>AB8 ?@>406 >:070;> 87<5=5=85 2K@CG:8 8 A515AB>8<>AB8. 0 AG5B A=865=8O 2K@CG:8, @5=B015;L=>ABL ?@>406 A>:@0B8;0AL =0 27,87%, 0 70 AG5B A=865=8O A515AB>8<>AB8 @5=B015;L=>ABL ?@>406 2K@>A;0 =0 28,77%. 0;55 ?@>2545< D0:B>@=K9 0=0;87 @5=B015;L=>AB8 0:B82>2.  EMBED Equation.3  'B>1K >?@545;8BL, :0: :064K9 D0:B>@ ?>2;8O; =0 @5=B015;L=>ABL 0:B82>2, =5>1E>48<> >ACI5AB28BL A;54CNI85 @0AG5BK. 1. 7<5=5=85 @5=B015;L=>AB8 0:B82>2 70 AG5B 87<5=5=8O >1>@0G8205<>AB8 0:B82>2:  EMBED Equation.3  2. 7<5=5=85 @5=B015;L=>AB8 0:B82>2 70 AG5B 87<5=5=8O G8AB>9 @5=B015;L=>AB8:  EMBED Equation.3  !>2>:C?=>5 2;8O=85 D0:B>@>2 A>AB02;O5B:  EMBED Equation.3  "0:8< >1@07><, =081>;LH55 2;8O=85 =0 @5=B015;L=>ABL 0:B82>2 >:070;> 87<5=5=85 G8AB>9 @5=B015;L=>AB8. 3. A=>2=K5 =0?@02;5=8O ?>2KH5=8O 4>E>4>2 8 @5=B015;L=>AB8 ?@54?@8OB8O A=>2=K<8 8AB>G=8:0<8 C25;8G5=8O AC<<K 4>E>4>2 8 @5=B015;L=>AB8  8:>O=>2A:89 <OA>:><18=0B O2;ONBAO C25;8G5=85 >1J5<0 @50;870F88 ?@>4C:F88, A=865=85 55 A515AB>8<>AB8, ?>2KH5=85 :0G5AB20 B>20@=>9 ?@>4C:F88, @50;870F8O 55 =0 1>;55 2K3>4=KE @K=:0E A1KB0 8 B.4. (@8A.4). & .. 8A.4. !B@C:BC@=>-;>38G5A:0O AE5<0 ?>8A:0 @575@2>2 C25;8G5=8O 4>E>4>2 8 @5=B015;L=>AB8 =5 7028A8<>AB8 >B B>3>, =0 1075 G53> @0AAG8BK205BAO @5=B015;L=>ABL, D0:B>@K 55 @>AB0 7028AOB >B 548=KE M:>=><8G5A:8E O2;5=89 8 ?@>F5AA>2 (@8A.5). & & A=>2=K<8 8AB>G=8:0<8 @575@2>2 ?>2KH5=8O C@>2=O @5=B015;L=>AB8 ?@>406 O2;ONBAO C25;8G5=85 AC<<K ?@81K;8 >B @50;870F88 ?@>4C:F88 8 A=865=85 A515AB>8<>AB8 B>20@=>9 ?@>4C:F88. ;O ?>4AG5B0 @575@2>2 <>65B 1KBL 8A?>;L7>20=0 A;54CNI0O D>@<C;0: EMBED Equation.3, 345 (R  @575@2 @>AB0 @5=B015;L=>AB8; R2  @5=B015;L=>ABL 2>7<>6=0O; RD  @5=B015;L=>ABL D0:B8G5A:0O; (  @575@2 @>AB0 ?@81K;8 >B @50;870F88 ?@>4C:F88; V 2i - 2>7<>6=K9 >1J5< @50;870F88 ?@>4C:F88 A CG5B>< 2KO2;5==KE @575@2>2 53> @>AB0; !2i - 2>7<>6=K9 C@>25=L A515AB>8<>AB8 i-E 284>2 ?@>4C:F88 A CG5B>< 2KO2;5==KE @575@2>2 A=865=8O; D  D0:B8G5A:0O ?@81K;L >B @50;870F88 ?@>4C:F88; D - D0:B8G5A:0O AC<<0 70B@0B ?> @50;87>20==>9 ?@>4C:F88. >6=> 2K45;8BL A;54CNI85 >A=>2=K5 ?CB8 A=865=8O A515AB>8<>AB8 ?@>4C:F88  8:>O=>2A:89 <OA>:><18=0B: 1. >2KH5=85 B5E=8G5A:>3> C@>2=O ?@>872>4AB20. -B> 2=54@5=85 =>2>9, ?@>3@5AA82=>9 B5E=>;>388, <5E0=870F8O 8 02B><0B870F8O ?@>872>4AB25==KE ?@>F5AA>2; C;CGH5=85 8A?>;L7>20=8O 8 ?@8<5=5=85 =>2KE 284>2 AK@LO 8 <0B5@80;>2; ?@>G85 D0:B>@K, ?>2KH0NI85 B5E=8G5A:89 C@>25=L ?@>872>4AB20. !=865=85 A515AB>8<>AB8 <>65B ?@>87>9B8 ?@8 A>740=88 02B><0B878@>20==KE A8AB5< C?@02;5=8O, 8A?>;L7>20=88 -, A>25@H5=AB2>20=88 8 <>45@=870F88 ACI5AB2CNI59 B5E=8:8 8 B5E=>;>388. #<5=LH0NBAO 70B@0BK 8 2 @57C;LB0B5 :><?;5:A=>3> 8A?>;L7>20=8O AK@LO, ?@8<5=5=8O M:>=><8G=KE 70<5=8B5;59, ?>;=>3> 8A?>;L7>20=8O >BE>4>2 2 ?@>872>4AB25. >;LH>9 @575@2 B08B 2 A515 8 A>25@H5=AB2>20=85 ?@>4C:F88, A=865=85 55 B@C4>5<:>AB8. 2. !>25@H5=AB2>20=85 >@30=870F88 ?@>872>4AB20 8 B@C40. !=865=85 A515AB>8<>AB8 <>65B ?@>87>9B8 2 @57C;LB0B5 87<5=5=8O 2 >@30=870F88 ?@>872>4AB20, D>@<0E 8 <5B>40E B@C40 ?@8 @0728B88 A?5F80;870F88 ?@>872>4AB20; A>25@H5=AB2>20=8O C?@02;5=8O ?@>872>4AB2>< 8 A>:@0I5=8O 70B@0B =0 =53>; C;CGH5=85 8A?>;L7>20=8O >A=>2=KE D>=4>2; C;CGH5=85 <0B5@80;L=>-B5E=8G5A:>3> A=0165=8O; A>:@0I5=8O B@0=A?>@B=KE @0AE>4>2; ?@>G8E D0:B>@>2, ?>2KH0NI8E C@>25=L >@30=870F88 ?@>872>4AB20. 3. 7<5=5=85 >1J5<0 8 AB@C:BC@K ?@>4C:F88, :>B>@K5 <>3CB ?@825AB8 : >B=>A8B5;L=><C C<5=LH5=8N CA;>2=>-?>AB>O==KE @0AE>4>2 (:@><5 0<>@B870F88), >B=>A8B5;L=><C C<5=LH5=8N 0<>@B870F8>==KE >BG8A;5=89, 87<5=5=8N =><5=:;0BC@K 8 0AA>@B8<5=B0 ?@>4C:F88, ?>2KH5=8N 55 :0G5AB20. #A;>2=>-?>AB>O==K5 @0AE>4K =5 7028AOB =5?>A@54AB25==> >B :>;8G5AB20 2K?CA:05<>9 ?@>4C:F88. ! C25;8G5=85< >1J5<0 ?@>872>4AB20 8E :>;8G5AB2> =0 548=8FC ?@>4C:F88 C<5=LH05BAO, GB> ?@82>48B : A=865=8N 55 A515AB>8<>AB8. 4. 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AA;54>20=85 ?>:070;>, GB> 4>E>4K  8:>O=>2A:89 <OA>:><18=0B 70 2005-200633. 2 F5;>< C?0;8 =0 234122 BKA.@C1. 8;8 =0 18,7%. !>:@0I5=85 4>E>4>2 ?@>87>H;> 2 >A=>2=>< 87-70 ?045=8O 2K@CG:8 >B @50;870F88 =0 258640 BKA.@C1. 8;8 =0 21,4%. 081>;LH89 C45;L=K9 25A 2 AB@C:BC@5 4>E>4>2  8:>O=>2A:89 <OA>:><18=0B 70=8<0NB 4>E>4K ?> >1KG=K< 2840< 45OB5;L=>AB8 (2K@CG:0 >B @50;870F88 ?@>4C:F88)  96,8% 2 20053. 8 93,6% 2 20063. >:070B5;8 @5=B015;L=>AB8  8:>O=>2A:89 <OA>:><18=0B 70 2005-200633. B0:65 CEC4H8;8AL, =01;N405BAO >B@8F0B5;L=0O 48=0<8:0. "0:, @5=B015;L=>ABL ?@>406 A>:@0B8;0AL =0 3,49%, G8AB0O @5=B015;L=>ABL  =0 3,68%, @5=B015;L=>ABL 0:B82>2  =0 4,06%, @5=B015;L=>ABL A>1AB25==>3> :0?8B0;0  =0 8,93%. $0:B>@=K9 0=0;87 @5=B015;L=>AB8 ?@>406 ?>:070;, GB> =081>;LH55 2;8O=85 =0 87<5=5=85 @5=B015;L=>AB8 ?@>406 70 2005-200633. >:070;> 87<5=5=85 2K@CG:8 8 A515AB>8<>AB8. 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