!"#!$% &'(!%)*+,,-
!"!#$%&'$(#)* +,-'$*.##/ *01( # !"!#)2,-*"#34 5/6$,7##-'8-0, #
VISION TTCL is to be “High Effeciency International Engineering Company”
JOY OF ENGINEERING AND ACHIEVEMENT TTCL aims to be a company where everybody works with joy of engineering and achievement
!"!#&*9:;*$#3 +,*/.7##/ *01( # (.#<&'.4=#"'1>?0(,##-'8-0,
/+D"H7KPH'a/P"6Mi-5)i?$)D+" &)i&6$
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
X " *I+(3BG8/ XJ" ;$M#Y57+/N/#`"!SSX X0" 6+$(5+TG5%L+&%6+$G1I71'/ XQ"""O*$7;$2 XQ """O*$7;$2 " +7$+DUT2 C " GY/H'a/+@M$6)? CF" 6+$B$)A+$G5%?'T6+$*&+,-;9:D7 C0" 6+$6<+6'BT4G56)?6+$ F C" 6+$*&B*M,L+DN/G5%6+$B$)A+$*&+,-;9:D7 FFF" FF" 6+$T<+-/)/7+/T2+/3+W9&3/+,'D"*&+,#53TL' *&+,#53TL'D" " G5%;)7: G&T523," *," FFJ" *&+,$'BY)TW3B(I3;'7*, F0J" *I+(3BG8/Y42;3BB'=W9 F00" $$+D6+$$%A&I+76'/ FS0" /ODB+D6+$?I+D-7)/#b/Y5137B$)K'8 FS0" //ODB+D6+$?I+D-7)/#b/Y5137B$)K'8DI3D FSS" $$+D7+/*&+,$'BY)TW3B137*E%6$$,6+$B$)K'8c """"""""(I " 3$+D7+/8+76+$-7)/"#$%?< #$%?<+#`"!SSX FS>" *<+3@)B+DG5%6+$&)-*$+%APY56+$T<+-/)/7+/ """"""""G5%d+/%6+$-7) " /137ef+DB$)A+$ F>J"""7B6+$-7) F>J """7B6+$-7) " /$&,G5%7B6+$-7)/-gH+%B$)K'8 !SQ""";$M A/T(+,GBB"S>h! !SQ """;$M " #(<+GA/I7$+D6+$89:6+< A/T(+,GBB S>h!
# @,'A*+# B=B.CD+.# E<,7F<5,$*G # )H(0*I# JK>($ L# JM@,'A*+NOL# )I+?5@2. )*I=*P15FQ @,'A*+)H(0*I# 5KRG<-* +2G# ST# 5KA(. # SUSV# IW-.+4 )I+?5@2. 5,'GK=W # SX# %W( @(+## 5/RG<F,?0<@&4,0')0(,Y>W@,'0(,IW( 0(,<<0Z@@-'8-0,,K# 0(,)*I>(5E,RG<1)*0,Z%?<4F0,:7# Z%?0(,0[<",W(1B,11( # Z@@E,@-1),# J\]^_`ab^_c# d]`e]__ae]`f# gahija_C k_]^# b]c# lh]m^aji^eh]f# \]^_`ab^_c# dglL# ;(.Y=W# 0(,,[ - K+4 0* 3<1# nhoh# d]`e]__ae]`# lhaphabC ^eh]# JMndlOL# JF,?5+892GF4q L# Z%?@K)!# <'=(5%2. D+.## I25-%r<F5K =7# JM\nsOL# # Y "*I"[- ,W<.%?# Tt!X# Z%?# ,W<.%?# Uu!X# =(K%H(I*@# BI.)*I5FQ @,'A*+N# vwWY>W@,'0(,##
!"!#F,'8 (#;w0<1Z0W-##/ *01(
!"!#$%&'$(#)* +,-'$*.##/ *01( #
\]^_`ab^_c# dgl# ,(.Z,03<1F,?5+8D+.+2G K2 # E-(K"(K(,xY 0(,Y>W@,'0(,<.[(1E,@-1),IW-.= 5<1## +*1P #P2 @,'A+* N# K2F,?"@0(,:7Z%?E-(K5$2G.-$(9Y IW( 0(,# <<0Z@@-' 8 -0,,K# Jd]`e]__ae]`# s_me`]L# 0(,)* I yRP < )* I >(# 5E,RG < 1)* 0 ,# Z%?<4 F 0,:7 # Jgahija_k_]^# hz## {bi|e]_ao# b]c# d}jepk_]^L# Z%?0(,,*@5>K(0[<",W(1# B,11( <4="(>0,,K#Jlh]m^aji^eh]##hz##nja]C~_o#gah _i^m##
002
1234256178926: #;<<=
zha# \]cjm^aeb # b]c# gahi_mm# g b]^mL# y G1E,<@E%4K# x 1,?@@0(,v%'=#,?@@"(&(,:wFB;E3<1B,11( ##Z%?,?@@## 0(,)*I506@#%H(5%2.1#Z%?3 "[1v%'=;*: 7# BI.0%4[K%w0EW(3<1# @,' A* + N# DIW Z 0[ # vwW F ,?0<@0(,Y <4 = "(>0,,K/%* 1 1( F B=,5EK2#5EK2#Z%?#/%*11( # @,' A* + N# DIW 5 %6 1 5>6 Z -B W K 0(,5=' @ B=3<1# E-(K=W<10(,1( @,'0(,#\]^_`ab^_c#dgl#+2KG <2 .w<[ .[(1=[<5 <GR 1 +*P1)(0%w0EW(Y F,?5+8Z%?=[(1F,?5+8BI.5 /(?<.[(1.'G1# "H(>,*@%w0EW(Y <4="(>0,,K/%*11( #F B=,5EK2#Z%?#B,1D (# IW - .E-(K/,W < K3<1+2 K -' 8 -0,@,' A* + N# Y 0(,)* I 0(,## BE,10(,+2KG K2 %w E[("w1Z%?1( +2YG $W5+EB B%.2-8' -0,,K+2yG @* yW< #
(.#/1A7/* 7#0485%'8),'.(##-'8-0,
Z%?E-(KDIW5F,2.@Y IW( =W +4 E[(Y$W)[(.)*I0(,BE,10(,# +2G =GH ( 0-[ ( Ew[ Z 3[ 1 @,' A* + N# ) 1 K2 B.@(.+2G ) ?5/'G K 0(,,* @ 1( BE,10(,Y =[(1F,?5+8Y>WK(03 P #BI.5 /(?Y 0%4K[ F,?$(EK 58,A 0')<(5y2. #J dlL#F,?5+8)2 #">,* <(>,*@5<K'5,="7# F,?5+80(=(,7#">,* <5K,'0(#Z%?#Z< ,'0(#Z%?5/R<G 5FQ 0(, 5=,2.KE-(K/,W<KIW( "x( ?+(10(,51' # Z%?5",'K",W(1# E-(K [ ( 5$RG < xR < "H ( >,* @ %w 0 EW ( Y =[ ( 1F,?5+8# @,' A* + N##
!"#!$#%&'(&%%)(&'#*&+#*,-(%.%/%&0
(.#B0"' +,7#5%2G.-D/B,) 7##vwW)*I0(,IW( -'8-0,,KBE,10(,#
!"!#/,,:;(#/,>K)* +,7#-'8-0,#
) 15" <3(.>4W =[<F,?$($ Z%? H(>4W 53W()I+?5@2. # Y =%(I>%*0+,*/.7Z>[1F,?5+8D+.5KRG<5IR< K'x4 (. # 2552 # F ) )4 @* # IW - .E-(K5FQ vwW H ( Y 0(,Y>W @ ,' 0 (,## \]^_`ab^_c#dgl#=%<I,?.?5-%(50R<@# X#F #+2Gv[( K(## @,'A*+N# F,?"@E-(K"H(5,6)Y 0(,Y>W@,'0(,<<0Z@@# Z%?0[<",W(1B,11( =[(1 # K(00-[(# SXX# BE,10(,# +H(Y>W
!"#!$#%&'(&%%)(&'#*&+#*,-(%.%/%&0
(.#"4-'+.7#50=4,*0A(##-'8-0,
(.#<,,E/%#E4WK +&' ##-'8-0,
@,'A*+N# K2$RG<5"2.1Z%?DIW,*@E-(KD-W-(1Y)<.[(1"w1)(0%w0EW(# DK[ -[ ( )?5FQ Y 5,RG < 1E4 : ;(/3<11( # 0(,<<0Z@@# Z%?0(,0[ < ",W ( 1# 0(,"[ 1 K<@1( DIW +* =(K0H ( > I0(,## Z%?E-(KF%<I;*.Y 0(,IH(5 ' 1( # Z%?DIW+H(0(,5/'GK+4 )I+?5@2. 5,2.0$H(,?Z%W-# 5FQ # U X# %W( @(+# Y F%(.F # SUU # BI.-* = x4 F ,?"1E7 # Y 0(,5/'G K +4 E,*P 1 2P 5 /RG < Y$W 5 FQ # 51' +4 >K4 5-2. # Z%?5FQ 51' %1+4 Y BE,10(,B,1D (# 3<1@,'A*+=[<DFY < (E=
1234256178926: #;<<=
003
!"#$%&'%(#
2557
2556
2555
223456748 11D 11D 2235E8782 23E:57;E
253445796 E395;762 :E7:J 2:3J9J755 23;84725
2:35597;: 23:62762 E467:6 2J3:J9782 23E9475J
5:4758
6:J7J2
94:7;:
227E4 5785 :79J E97:2 272J
67J: 97J4 576: 2976E 27;4
;745 E7E9 27J4 ;769 876E
1@0H(D,3(I+4 #J> [-.# #%W( @(+L
!"#$%&'!(')* %!+,-./ 0(! 1 !"#$%<!((! (')* %!+=!>*?@@!*?>AB!C !"#$%<!((! / 0F! +!CG +#HHI! !"#$% K> (L!# M?CN =%C (L!# *OBP0 )?= !*'KCB!+(! Q+0C
)?= !(L!# M?NC=%C=') !"#$% K>1RST )?= !(L!# *OBP0=') !"#$% K>1RST )?= !U-=)/,BC=')*0CB ?V"W K>1RST )?= !U-=)/,BC=')UX%YZ)FO%C1RST (L!# *OBP0=')FO%C1R/!B[FO%CT
2) "! #$%&(' )*( +,- "! #$./012
THB’million
THB’million
1) !"#$% &'
004
1234256178926: #;<<=
!"#!$#%&'(&%%)(&'#*&+#*,-(%.%/%&0
3) !"#$"#"%&'()"%*+")+",%
4) "! #$%&'() *+,-&./
5) !"#$ %&'()&*+ , ' $)*."/ 0 !"123 4 )"5678:9 .;7"
!"#$%&'( $)*
THB 22,635 M
THB 22,635 M
$)*."/ 0 !"123 4 )"5678:9 .;7"
THB’million
!"#$%&'( $)* THB 14,979 M
() "*+!,-. /&0"1#2-"
(%"*''
(("*&$
THB 14,979 M
+"*+*
()")%)
/"25 ()" /&0"1#2-"
!"*)!
/"25 ()"3&4 /&0"1#2-"
*"&##
(4#"6789:<; =7/0;"
&%*
() "*+!,-.3&4 /&0"1#2-"
*"#%+ !"#$#
31 "! #$%&'2556
!"#!$#%&'(&%%)(&'#*&+#*,-(%.%/%&0
%"#&'
!" +%"),-* #$$%
1234256178926: #;<<=
005
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`I#B $B A"0 J$Q9'CSD' !\GR-HH'$9BY9F!!C_
S!/6 .I/F'!aVSD'Q4bJ$6=0LMMc 0 d0 C"$'QC0e0@A*!45F'!G4A-4$A45Q9'C$&' U,?-+,- 67$ Q!4PH>!F0J$!8A450fffg0hijklmn0opjmqqrs0TA#01tui0 0 d0 ZvK^'QC0 e0 @A* !4 5 -$/ C4 IB SB $ U,? - TQ!HF'! G'FE$'Q'! Z,? - F'!S& H --F>:8$D ' R* ' >.& H 6!8 %Y@%#0 9H HB$0w<<0:*'$ .!"#b0S!-x0-'#/0 w<06=0 SD'.!45F'!:H%/$0 J$T!H@yyz'>.&H>!FR-H0 11230 J$ C,-H#&'HF/*H0 6!8 %Y0 C"#$C'!V0 hTQ!HF'!-8T:${Vs0 XO?H 67$SB$ U,?-TQ!HF'!%"?C" C):Q&'S)HS/AR-H-/IS'.F!!CT!H@yyz'J$6!8 %Y C"#$C'!V0 0 d0 F4$#'#$0 e0 @A*!45S4bb'C):Q&'0 |}<0 :*'$ .!"#b0 S!-x0J$F'!F&-S!*'HTQ!HF'!0~j m j 0 q 0k0ijnk 02 k rn 0 2q mn 0 0tn n 0k 0 nj q n km 0u jn kjn 0 n nmq n j0 ht u s0 6!8 %YC' : X"#0 XO?H$45 67$0 S4bb'F&-S!*'HTQ!HF'!%"?C"C):Q&'S)HS/AR-H011230$45I4PH>I& !B?CF&-I4PHC' 0 d0 I/:'QC0e0@A*!54 F'!!45!-H!855F'!5!B.'!G4AF'! A*'$SB?H>9A:*-C0I'CC'I!W'$0uio0w|<<w L<<| 0 SD'.!45(:6!8F-5F'!6!8GD'6=0LMMc0Qa8F!!CF'!00 5!B K4 % 0 G8@A* $D ' S$-R--$/ C4 IB 0 SD ' .!4 5 F'!G& ' #6 $ (:0 6!8GD'6=0 Q!4PH%"?S-H0 67$GD'$9$ HB$0 <x;<0 5'%I&-./*$0 XO?H0 C,?-!9CF450 HB$6 $(:!8.9&'HF':%"?G&'#@6>:*90 GD'$9$ HB$0
!"#!$#%&'(&%%)(&'#*&+#*,-(%.%/%&0
<x;<0 5'%I&-./*$0 C,?-94$%"?0 wL0 F4$#'#$0 LMMc0 GOHG8%D'J.* F'!G&'# HB$6 $(:%4PH.CA6!8GD'6=0 LMMc0 QBA 67$GD'$9$ HB$0 %& ' F4 5 0 <x}<0 5'%I& - ./* $ 0 hLMM}0 0 <xc<0 5'%I& - ./* $ s00 >:8 C,?-@A*!45F'!-$/C4IBG'F%"?6!8U/C()*+,-./*$0 SC4#S'C4b0 6!8GD'6=0LMMN0 67$%"? !"#5!*-#05!BK4% 0G8%D'F'!G&'#6 $(: J$94$%"?0 N0 ZvK^'QC0 LMMN0 J.*F45()*+,-./*$I'C%8 5"#$0 !'#U,?-J$94$%"?0 L|0 CK'#$0 LMMN0 TA#G8%D'F'!FD'.$A94$0 n n 0J$94$%"?0Lw0 CK'#$0LMMN0
>$9T$*CJ$6=0LMMN 0 d0 !'Q'A9&'E/!FBGF&-S!*'H0 20 G8 IB5TI-#&'H0 I&- $,-? H0>:8C"(:6!8F-5F'!%"A? R" $OP 0TA# 67$(:C'G'FE/!FBG G'FT!H@yyz'%"? IB5TIROP$ 0 d0 !'-#)&J$!8.9&'H#,?$6!8C):TQ!HF'!R$'AJ.b& .:'#TQ!HF'!0 TA# $* $ RI6!8U'QC Y!KWFB G -' X" # $0 67$.:4F 0 d0 !'#4HQHC"Q9'C U,?-C4?$J$R*- S$-F'!:H%/$>:8 F&-S!*'HT!H@yyz'Z:4HH'$+&'$.B$0 ~mj k0 ip n j km0 R$'A0 w LN<0 0 %"?@A*#,?$ S$-I&-!4W5': C"#$C'!V9&'G80 @A*!45F'!ZBG'!a'A*9#A" 0 $-F .$,-SB?H-,?$JA0 !'@A*Z4[$'>:8 ZB?CF'!5!B.'! G4 A F'!Q9'C S"? # H>:8F'!Q95Q/ C F'!F& - S!* ' HTQ!HF'!0 J.* C 'FROP $ J$6= 0 LMMN0 >:8 !' U,? - 9& ' A* 9 #Q9'C>R\ H >F!& H0 R-H0 11230 >:8F'!Z4 [ $'-#& ' HI& - $,? - H0 G8S& H (:J.* 0 11230 C"(:6!8F-5F'!%"?A" #"?#C>:8#4?H#,$J$U&9H%Y9!!K I&-@6 0 S/ A %* ' #$"P 0 (CR--9#Z!J.* %/ F %& ' $C" Q 9'CS/ R0 $,?-HJ$9'!8Q!5!-50;<06=0R-H01123
>?1#@AB1B5CD #EA1A32F 617G25H8I2J5I2K:LC1AJ21MN7O11?O21PQ I8RSO21TJUL
1234256178926: #;<<=
007
!"#$%&'$()*+,-./*$0 0 Qa8F!!CF'!I!9GS-5@A*!45F'!>I&HI4PHROP$0I'CCIB0 R-H%"?6!8U/C9BS'C4b()*+,-./*$0 6!8F-5A*9#F!!CF'!-BS!800 ;0 %& ' $Q, - 0 !xIx%xYB 9 8!4 F KV 0 ZB $B G '!CaV 0 67 $ 6!8E'$0 Qa8F!!CF'!I!9GS-50 $'#FD ' E!0 -/ % '!9/ [B Z HYV 0 >:80 $'#!B 9 TX0 $'H'T-F80 67 $ F!!CF'!I!9GS-50 TA#C" 0 $'#GBIZ:0SB%EBYF4 AB0 ()5* !B.'!F:/C& H'$54bU"5!BK%4 J$ Q!,- 67$ :R'$/F'!Qa8F!!CF'!I!9GS-50 0 J$6= 0 LMMc0 Qa8F!!CF'!I!9GS-5G4 A J.* C" F '! 6!8U/C%4PHSBP$0 }0 Q!4PH0 C"5%5'%.$*'%"?Q9'C!45(BAU-50 >:80 C"F'!ZBG'!a' !,?-HSD'Q4b 0Z!*-CQ9'C .\$0S!/6@A*A4H$"P 0 wx0 S-5%'$H5F'! HB $ !'#@I!C'S>:86!8GD ' 6= 9&'C"F'! 6`A (#R*-C): Z"#HZ-0 +)FI*-HI'C.:4FF'!54bU"0 %"?!45!-H%4?9@60 TA#C"6!8E'$F!!CF'!5!B.'!0 ()*5!B.'!>:80 ()*S-554bU"!45-$/b'I!&9C6!8U/CU"P>GH%/FQ!4PH0 >:8@A*C"F'!0 $4 A 6!8U/ C 6!O F K'.'!, - 67 $ F'! Z'8F4 5 ()* S -554 b U" 0 !4 5 -$/ b 'I-#& ' H 67 $ %'HF'!TA#@C& C" ' #5!B . '! R* ' !& 9 C0 J$6=0LMMc0 67$GD'$9$0w0Q!4PH0 0 Lx0 S-5%'$!855Q95Q/ C ^'#J$>:8F'!IB A I'C F'!>F* @ RR* - 5FZ!& - H0 TA#.$& 9 #H'$I!9GS-5^'#J$0 S$->($F'!I!9GS-5%"? - #)& 5 $Z,P $ W'$Q9'C S"? # HR-H0 5!BK4% 0 67$!'#0 ;0 6=0 Z,?-J.*Q!-5Q:/CQ9'C S"?#H>:80 %/ F FB G F!!CR-H5!B K4 % 0 TA#FB G F!!C%"? C" Q 9'C S"? # HS) H0 G8%D'F'!I!9GS-5%/F6=0 !9C%4PH@A*FD'F45A)>:F'!I!9GS-5 ^'#J$9&' 67$@6I'C>($%"?@A*9'H@9*0 Z!*-CF45@A*IBAI'C0 (:F'!I!9GS-5>:8J.* C" F '!Z4 [ $'H'$5/ Q :'F!>:80 9BE"F'!I!9GS-5J.*C"6!8SB%EB^'Z>:86!8SB%EB(:C'FROP$0 0 ;x0 S-5%'$!'#H'$(:F'!5!B . '!Q9'C S"? # HJ.* C" Q9'C Z"#HZ->:8 .C'8SC0>:8 .\$9&'0F!859$F'!5!B.'! Q9'C S"?#HC"F'!6!456!/H-#&'HI&- $,?-H0 !9C%4PHC"F'!R#'# R-5 RIJ.*Q!-5Q:/C5!BK4%#&-#%"? FBAROP$J.C&A*9# 0 |x0 S-5%'$F'!+, - 6 B 54 IB I 'CF .C'#9& ' A* 9 #0 .:4F%!4Z#V>:8I:'A.:4F%!4Z#V>.&H6!8 %Y@%#0R*-FD'.$A R-HI:'A.:4F%!4Z#V.!,-F .C'#%"? F"?#9R*-HF45E/!FBGR-H0 5!BK4% 0
008
1234256178926: #;<<=
!"#!$#%&'(&%%)(&'#*&+#*,-(%.%/%&0
0 Mx0 S-5%'$F'! R* ' %D ' !'#F'!%"? F"? # 9T#HF4 $ .!, !'#F'!%"?-'GC"Q9'CR4A>#*H%'H(:6!8T#U$V0 !9C%4PH!'#F'! @A*C'>:8GD'.$&'#@6XO?HSB$%!4Z#VTA#()*5!B.'!%"?!45(BAU-5 67 $ ()* S$-R* - C) : !9C%4P H 6` A (#R* - C) : J$ !,? - HA4 H F:& ' 90 -#&'H+)FI*-HQ!5+*9$0 0 }x0 6!8 CB$Q9'C 67$-BS!8R-H()*S-554bU"0 ZBG'!a' Q4A :,-F0 S$->I&HI4PH0 0 >:8 S$-Q&'I-5>%$()*S-554bU"0 R-H5!BK4% 0 0 cx0 6!8U/C6!OFK'.'!,-F45.49.$*'.$&9#H'$I!9GS-500 ^'#J$ 67 $ 6!8GD ' 0 !9C%4P H ZB G '!a'Q9'CA" Q 9'CU-50 .49.$*'.$&9#H'$I!9GS-5^'#J$ 0 Nx0 Qa8F!!CF'!I!9GS-5@A* C" F '!6!8 CB $ (:0 F'!AD' $B$H'$R-HI$ -HI'CF 54I!R-HQa8F!!CF'!0 I!9GS-5SD'.!456=0 LMMc0 (:R-HF'!6!8 CB$-#)&J$!8A450 %"?Z-JG>:8@A*!'#H'$J.*Qa8F!!CF'!5!BK4%%!'5>:*9 0 Qa8F!!CF'!I!9GS-5S'C'!+R-R* - C) : @A* 0 TA#@C& GD ' F4 A >:8S'C'!+6!O F K'.'!, - 67 $ F'! Z'80 F45 '#5!B.'!0.$&9#H'$I!9GS-5^'#J$0()*S-554bU"0 >:8 %"?6!OFK'^'#$-F@A*-#&'H I\C%"?0 Qa8F!!CF'!I!9GS-5 @A*!45!'#H'$G'F '#5!B.'!%"?!45(BAU-5J$S&9$ F"?#9R*-H0 6!8F-5F45!'#H'$R-H()*I!9GS-5^'#J$>:8()*S-554bU"0 ($9FF455!BK4% 0 +,-$T#5'#F'!FD'F45A)>:%"?A" 67$SD'Q4b0 GOHC"Q9'C .\$9&'0 J$!-56=54bU"0 LMMc0 SBP$S/A0 a0 94$%"?0 ;w0 E4 $ 9'QC0 LMMc0 5!B K4 % 0 C" ! '#H'$%'HF'! HB $ %"? +) F I* - H0 I'C%"?Q9!J$S'!8SD'Q4bI'C.:4FF'!54bU"%"?!45!-H%4?9@6 >:8C"F'! 6`A (#R*-C):-#&'H Z"#HZ-0F'!5!B.'!Q9'C S"?#H00 S-AQ:* - HF4 5 $T#5'#R-H5!B K4 % 0 -#& ' HC" 6 !8SB % EB ^ 'Z00 !855Q95Q/C^'#J$C"Q9'C Z"#HZ-0 @C&C"R*-5FZ!&-H.!,-0 F'!%/ G !B I %"? 67 $ S'!8SD ' Q4 b 0 F'!6 B 54 IB I 'CF .C'#0 9& ' A* 9 #.:4 F %!4 Z #V > :8I:'A.:4 F %!4 Z #V 0 R* - FD ' .$AR-H0 I:'A.:4F%!4Z#V.!,-F .C'#%"? F"?#9R*-HF45E/!FBGR-H5!BK4% 67$@6TA#+)FI*-H0 !'#F'!%"? F"?#9T#HF4$-'GC"Q9'CR4A>#*H0 %'H(:6!8T#U$V 67$!'#F'!G!BH%'HF'!Q*'0 -4$ 67$E/!FBG0
!"#!$#%&'(&%%)(&'#*&+#*,-(%.%/%&0
6FIB %4? 9 @6-#& ' HSC .I/ S C(:0 >:8 67 $ 6!8T#U$V S) H S/ A0 I& - 5!B K4 % 0 5!B K4 % 0 #4 H @A* G* ' H%"? 6 !O F K'%'HF'! HB $ >:80 %"?6!OFK'%'HF .C'# Z,?-J.*Q9'C .\$!'#F'!@A*C'>:80 GD ' .$& ' #@6XO? H SB $ %!4 Z #V %"? C" S '!8SD ' Q4 b 0 $-FG'F$"P 0 #4 H C"0 F'!Z4[$'A*'$F'!FD'F45A)>:FBGF'!%"?A"-#&'HI&- $,?-H 0 SD'.!456=0 LMMc0 Qa8F!!CF'!I!9GS-50 Z-JGF45 (:F'!6!8 CB$Q9'C 67$-BS!8>:8Q/aSC54IRB -H()S* -554bU"0 -#& ' H@!F\ A" 0 @A* %D ' F'! 6!" # 5 %" # 5!'Q'F4 5 ()* S -554 b U" R-H5!B K4%-,? $ >:8Z59&' 0 5!B K4% R-H()* S -554b U" %"? 5 !B K4 % 0 JU*-#)&J$6 GG/54$J.*!'Q'I?D'S/A0 GOH@A* S$-I&-Qa8F!!CF'! 5!BK%4 J.*ZGB '!a'$'#9B U"#!0FBH? C$I!"0()S* -554bU"!54 -$/b'I :R%8 5"#$0 |wc|0 .!,-$'#SCU'#0 GBaTa9'%0 ()*S-554bU"0 !4 5 -$/ b 'I :R%8 5" # $0 ;Lcw0 .!, - $'HS'9-C!!4 I $V 0 ZB?CZ)$94[$'S/R0 ()*S-554bU"!45-$/b'I :R%8 5"#$0 |M 0 G'F5!B K4 % 0 @Z!* X 9- I-!V {'SV Q) 6-!V 0 -5" - -S0 GD ' F4 A0 67$()S* -554bU"R-H5!BK%4 0I&-@6-"F.$OH? 6=0TA#C"Q'& S-554bU"0 %"? ZB?CROP$0 w<¡0 G'F0 LxM0 :*'$5'%0 67$0 LxcM0 :*'$5'%00 Z,?-$D' S$-I&-%"?6!8U/CS'C4b6!8GD'6=()*+,-./*$-$/C4IBI&-@6 0
J$$'CQa8F!!CF'!I!9GS-5
#>1VWVKVXAY71ROZ[#\A5A821?][F 617G25^]7O11?O21W1Y8_EC 000000
1234256178926: #;<<=
009
!"#$%&'$()*+,-./*$00
0 6!8E'$F!!CF'!5!B . '!0 5CGx0 TIT# @%#0 Q-!V 6 - !U4? $ 0 @A* > I& H I4P H0 Qa8F!!CF'!S!!.'>:8ZBG'!a'Q&'I-5>%$0h]Qa8F!!CF'!S!!.' _s0I'C>$9%'H00 F'!FD'F45A)>:FBGF'!%"?A"R-H5!BK4%GA%8 5"#$0 >:8@A*FD'.$AF 54I!Qa8F!!CF'!0 S!!.' 0 Z,?- 67 $ F!-5J$F'!%D '.$*'%"?> :8R-5 RIR-HQ9'C!4 5 (B A U-5!9C+O H0 Q/aSC54IBR-H()*%"?G8@A*!45>I&HI4PH0 Qa8F!!CF'!S!!.' 0 G86!8F-5A*9#F!!CF'!00 -#&'H$*-#0 ;0 %&'$0 >:8C"SC'UBF%"? 67$F!!CF'!-BS!8 67$S&9$J.b&-#&'H$*-#0 L0 %&'$00 Qa8F!!CF'!S!!.' 0I*-H 67$()C* Q" 9'C!)0* Q9'CS'C'!+06!8S5F'!aV0C"Q9'C!)Q* 9'C R*'JG0 +O H .$* ' %"? 0 Q9'C!4 5 (B A U-5R-HI$0 >:8S'C'!+-/ %B Y 9:'-#& ' H Z" # HZ-J$F'!0 6 B54IB.$*'%"? Z,?-J.*F'!AD' $B$H'$R-HQa8F!!CF'!S!!.' 0SD' !\GI'C94I+/6!8SHQV
0
Qa8F!!CF'!S!!.'>:8ZBG'!a'Q&'I-5>%$U/A6 GG/54$06!8F-5A*9# RS ".O,4BQ] ".@.Q8(* %S ".O+I.K, 8=K.,B=^34 @XY ZS ".O:4B. 5.,_+
#,*K."+,,-+.,/,,0.12*345.,).(6.7891:" b+,,-+.,84/,*c +,,-+.,/,,0.12*345.,).(6.7891:" b+,,-+.,84/,*c +,,-+.,/,,0.12*345.,).(6.7891:" b+,,-+.,9,4P:> c
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` QNO!<F02>+D+)aY +.,345.,).(6.7891:"8O6.@D0-.*/-+>90"F.:;(L B.-,>9G4N<89 E8@+,,-+., QNOD<VL8-QO@(6.7891:"+>9G2+.,NI.D"4"@."
TA#!9CR-H5!BK4% 0 I:-AG$ %"#5 Q"#HF455!BK4%GA%8 5"#$0 %"?-#)&J$-/IS'.F!!C>:8E/!FBG%"?C"R$'AJF:* Q"#HF4$0 |x0 S$->I& H I4P H Qa8F!!CF'!5!!K4 % ^B 5 ':I& -0 0 Qa8F!!CF'!5!BK4% 0 Z,?-ZBG'!a'-$/C4IB 0 Mx0 6 ! 8 CB $ ( : F ' ! 6 B 54 IB H ' $ 6 ! 8 GD ' 6= R - H0 Qa8F!!CF'!S!!.'>:8ZB G '!a'Q& ' I-5>%$>:8!'#H'$ I& - 6!8E'$ G* ' .$* ' %"? 5 !B . '!>:8F!!CF'!()* G4 A F'!J.b& 0 Z,?-ZBG'!a'-$/C4IB 0 }x0 FD ' .$A Fa¢V > :86!8 CB $ (:F'!6 B 54 IB H '$0 6!8GD'6=R-H6!8E'$ G*'.$*'%"?5!B.'!>:8F!!CF'!()*G4AF'!J.b& Z,?-$D' S$-I&-Qa8F!!CF'!5!BK4% 0 cx0 6!8 CB$(:F'!6 B5I4 HB '$6!8GD'6=R-HF!!CF'!5!BK%4 67$!'#5/QQ:0>:8$D' S$-I&-Qa8F!!CF'!5!BK%4 J$F'!6!8U/C0 6=0LMMN 0 Nx0 !'#H'$(:F'!6!8 CB$I$ -H6!8GD'6=0 LMMc0 R-H0 Qa8F!!CF'!U/A#&-#I&-Qa8F!!CF'!5!BK4% 0 x0 ZBG'!a'>:8 S$->I&HI4PHQa8F!!CF'!I!9GS-5 %"?Q!59'!8F'!AD'!HID'>.$&HQ!4PH%"?S-HF:45 R*'AD'!HID'>.$&H Qa8F!!CF'!I!9GS-5R-H5!B K4 % Q!4P H %"? S 'C0 TA#C" 9 '!80 F'!AD'!HID'>.$&HG$+OH0;w0E4$9'QC0LM}<
!"#$%&'( !)!&*+,
-#,.! /##0/!#1##2!34,5$6!#7!+8!9*:3;
010
#!")! -#,6L!-M (NOOP
<=>(=?(@ABCA@@DCAB(EAF(EGHC@I@J@AK
D,;O":6."GMFUV80=F" !"#$ 3SXS %&&' ()*+,,-+.,9,40.,(B.-D/;LO@ \NF 5> N !0F -; + .,#,*<= - ()*+,,-+.,9,4 0 .,(B.-D/;L O @ D3VL874N7.-12*:9:B"(B.-D/;LO@E8@8@(Y+,,B-:>?@0-N A (,>@? +.,9,40.,(B.-D/;OL @\NFN.I D"4"+.,8O6.@D#W",*9912* D#W",M#K,,- -; !"#$%&'&() ,*N>99,40.,12*GMF5>N+., 74 N 7.-#,*D-4 " #d 5 5> O (B.-D/;L O @76 . @e :;L 8 .55*D+4 N E_? " :>?@#d55>Of.O"8+ 12*#d55>Of.O!"8O6.@768D"VL8@/-LI.D/-8 :;L8.5/6@G2+,*:9768+.,NI.D"4"@."E8@9,4P>:H 12*-;+., +I.0"N-.7,+.,!"+.,1+F\E12*#g8@+>" QNO-890-.O !0F -; GMF ,> 9 G4 N <89!"+.,NI . D"4 " +.,8O6 . @<> N D5"728N5" -;+.,74N7.- 12*#,*D-4"G2 D3VL8!0F+.,9,40.,(B.-D/;LO@ -;#,*/4:K4f.312*#,*/4:K4G27.-"QO9.O12*B>7U=#,*/@(Y E8@9,4P>:H
+.,#,*D-4"G2+,*:97688@(Y+,
()*:I.@." 12* ()*+,,-+.,9,40.,(B.-D/;LO@ \NF345.,).U_@#d55>OD/;LO@76.@e :;L8.5/6@G2+,*:9768+., NI . D"4 " @."E8@9,4 P> : H QNO34 5 .,).U_ @ Q8+./:;L 5 *D+4 N D07= + .,)Y ,*N> 9 (B.-,= " 1,@E8@G2+,*:9:;L 8 .5-; 76 8 9,4 P> : H +.,#,*D-4 " #d 5 5> O D/;L O @(,89(2= - (B.-D/;L O @ #,*Df:76 . @e :;L /I . (> C \NF 1 +6 (B.-D/;L O @NF . "+2O= : KY (B.-D/;L O @NF . "+.,NI . D"4 " @." (B.-D/;L O @NF . "+.,D@4 " 12*(B.-D/;LO@NF."+.,#h49>747.-+i,*D9;O9:;LD+;LOBEF8@ ,B-:>?@\NF:9:B"#d55>OD/;LO@DN4-:;L-;+.,D#2;LO"1#2@12* (B.-D/;LO@!0-6QNO0.B4K;+.,2N(B.-D/;LO@N>@+26.B!0F8OM6!" ,*N>9:;LO8-,>9\NF +.,#,*D-4 " (B.-D/;L O @:;L ( )*+,,-+.,9,4 0 ., (B.-D/;LO@D/"8!0F()*+,,-+.,9,4P>::,.912*345.,). -;5I."B":>?@/4?" Z' ,.O+., N>@";? RS (B.-D/;L O @NF . ",.O\NF 5 .+B> h 5> + ,8= 7 /.0+,,#TQ7,D2;O- 12* #TQ7,D(-; %S (B.-D/;LO@5.++.,,>9@."Q(,@+.,:;L-;E".N!0C6 E_?":>?@!"12*76.@#,*D:X ZS (B.-D/;LO@5.++.,D#2;LO"1#2@E8@7F":=",.(. D(,VL8@5>+, 8=#+,)Y 12*B>/N=+68/,F.@
<=>(=?(@ABCA@@DCAB(EAF(EGHC@I@J@AK
AS (B.-D/;L O @:.@NF . "8> 7 ,.12+D#2;L O "D@4 " 7,. 76.@#,*D:X &S (B.-D/;OL @5.++.,/6@-89Q(,@+.,!0F2+M (F.\-6:"> 7.-+I.0"NDB2. jS (B.-D/;LO@5.++.,/MCD/;O:,>3O.+,9=((2 'S (B.-D/;L O @E8@+.,7> N /4 " !5E8@"> + 2@:= " 5.+ #dC0.+.,X_+P.G2+,*:9/4L@1BN2F8-12*/=Ef.3 `S (B.-D/;L O @5.+G2+,*:9NF . "DX,Pk+4 5 f.(3V?"O=Q,# lS (B.-D/;LO@5.++.,E.N1(2":,>3O.+,9=((2 RmS (B.-D/;LO@5.++.,D+4N-0.8=:+f>O RRS (B.-D/;L O @5.+#,*Df:E8@Q(,@+.,:;L \ -6 -; #,*/9+.,)Y-.+68" R%S (B.-D/;LO@5.++.,E.N1(2"1,@@." RZS (B.-D/;LO@5.+,*O*DB2.Q(,@+.,/>?" RAS (B.-D/;LO@NF.",.O\NF5.++.,,6B-2@:=" R&S (B.-\-61"6"8":.@+.,D-V8@
#!")! -#,6L!-M (NOOP
011
RjS (B.-D/;LO@5.++.,,B-DX,Pk+458.D];O" R'S (B.-D/;LO@5.++.,D+4N1G6"N4"\0B12*/_".-4 R`S (B.-D/;LO@5.+Q,(74N768,F.O1,@ RlS (B.-D/;LO@5.++.,D34L-5I."B"(M61E6@:.@+.,(F. %mS (B.-D/;L O @5.+GMF G 24 7 :;L \ -6 / .-.,U/6 @ -89 D(,VL8@5>+,12*8=#+,)Y7.-EF87+2@!"/>CC. %RS (B.-D/;L O @5.+G2+,*:9NF . "DX,Pk+4 5 f.(3V?"/0,>k8D-,4+. %%S (B.-D/;LO@:;LD+;LOBEF8@+>9f.32>+P)YE8@9,4P>: %ZS (B.-D/;OL @:;DL +;OL BEF8@+>9(B.-38D3;O@E8@D@4":=" %AS (B.-D/;OL @:;DL +;OL BEF8@+>9+.,5>N/,,:,>3O.+,E8@ 9,4P>: %&S (B.-D/;L O @:;L D +;L O BEF 8 @+> 9 +.,9,4 0 .,5> N +., 9,4P>:O68O %jS (B.-D/;LO@:;LD+;LOBEF8@+>98=9>74D07= +.,9.ND5J9 +.,D5J9#}BO12*/=Ef.3547 %'S (B.-D/;LO@:;LD+;LOBEF8@+>9G2+,*:9/4L@1BN2F8%`S (B.-D/;LO@:;LD+;LOBEF8@+>9EF8,F8@D,;O"5.+<=-<" %lS (B.-D/;OL @:;DL +;OL BEF8@+>9EF8343.:E8@+.,2*D-4N :,>3OY/4":.@#dCC.12*EF8-M2/I.(>C ZmS (B.-D/;OL @:;DL +;OL BEF8@+>9+.,D#TNDGOEF8-M29,4P:> ZRS (B.-D/;L O @:;L D +;L O BEF 8 @+> 9 EF 8 -M 2 ,>L B \02G6 . " ,*99/.,/"D:X Z%S (B.-D/;L O @:;L D +;L O BEF 8 @+> 9 (B.-D/; O 0.OE8@ ,*99/.,/"D:X ZZS (B.-D/;LO@:;LD+;LOBEF8@+>9~F8Q+@ :=5,47 ZAS (B.-D/;LO@:;LD+;LOBEF8@+>9(B.-\-61"6"8"E8@ D@4":=" Z&S (B.-D/;L O @:;L D +;L O BEF 8 @+> 9 #d C 0.+.,E.N /f.3(268@ ZjS (B.-D/;LO@:;LD+;LOBEF8@+>9+.,5>N:I.12*"I.D/"8 EF8-M2:.@+.,D@4":;L\-6UM+7F8@ Z'S (B.-D/;L O @:;L D +;L O BEF 8 @+> 9 (B.-G> " GB"E8@ 8>7,.N8+D9;?OD@4"+MFE8@Q(,@+.,:;L2@:="
012
#!")! -#,6L!-M (NOOP
+.,34 5 .,).#,> 9 #,= @ 1G"+.,9,4 0 .,(B.-D/;L O @ bnopq rstuvwtxv yzuxc
()*+,,-+.,\NF345.,).#,>9#,=@1G"+.,9,40., (B.-D/;LO@ :;L/I.(>CN>@";? RS (B.-D/;LO@5.++.,,>9@."Q(,@+.,:;L-;E".N!0C6 E_?":>?@!"12*76.@#,*D:X {| | /I.0,>9+.,NI.D"4"Q(,@+.,!"76.@#,*D:X {| 9,4P>:H -;"QO9.OD3VL82N(B.-D/;LO@76.@e QNO-;+.,:I.@." ,6B-+>9GMF,>9D0-.,.O8VL"!"#,*D:X">?"e | "QO9.O+.,NI . D"4 " Q(,@+.,QNO!<F D @4 " 7,. 76 . @#,*D:X:;L <> N D5"-; + .,,*9= <6 B @DB2.12*#,4 - .)E8@ +.,!<FD@4"7,.76.@#,*D:XD3VL89,40.,5>N+.,NF."+.,D@4" 8O6.@D0-.*/%S #,> 9 #,= @ 1"B:.@+.,#,*D-4 " (B.-D/;L O @ 8O6 . @<> N D5" 12*/8N(2F 8 @+> 9 +,89+.,(B9(= - f.O!" D3VL83>^".+.,9,40.,(B.-D/;LO@E8@9,4P>:H 8O6.@768D"VL8@ G2+.,NI . D"4 " @."E8@()*+,,-+.,9,4 0 ., (B.-D/;L O @!"#$ 3 SXS %&&'\NF -; + .,:9:B"+i9> 7 , E8@()*+,,-+.,9,4 0 .,(B.-D/;L O @D3VL 8 34 5 .,).B6 . (B.-,>9G4N<89:;L+I.0"N-;(B.-D0-.*/-"8+5.+";?-;+., #,*D-4"7"D8@E8@()*+,,-+.,9,40.,(B.-D/;LO@D3VL8!0F D#W"\#7.-D#g.0-.O12*"QO9.OE8@()*+,,-+.,9,4P>:H ]_L @ D#W " /6 B "0"_L @ E8@+.,NM 1 212*+I . +> 9 +4 5 +.,8@(Y + ,:;L N; 5_@E8D/"8+.,,.O@."768:;L#,*<=-GMFUV80=F"#,*5I.#$ %&&'
Q !"/L!.#(*R ;!#%R S$5)TUV -#,.! +7,/##0/!#:#$2!#+%!0W1M8")
<=>(=?(@ABCA@@DCAB(EAF(EGHC@I@J@AK
D,;O":6."GMFUV80=F" #,*K."D5F.0"F.:;L9,40.,12*+,,-+.,GMF5>N+.,!0C6 \NF -; + .,D/"8<VL 8 9= ( (2:;L -; (= ) /-9> 74 D 0-.*/-/I . 0,> 9 +.,D#W " ()*+,,-+.,9,,P> : f4 9 .2G6 . "()*+,,-+., /,,0.12*345.,).(6.7891:" D3VL8"I.D/"8768:;L#,*<=()*+,,-+.,9,4P:> (,>@? :;L & %&&' D-V8L B>":;L RA 3 X54+.O" %&&' ]_L@-; 5I."B":>?@/4?" ' :6."N>@";? R ".O+I.K, 8=:.,B=^34 @XY
#,*K."+,,-+.,
% ".O:4B. 5.,_+
+,,-+.,
Z ".@/.B+,,74+. 7>"K=B"47OY
+,,-+.,
A ".O<I.".C 8>X"K,,-
+,,-+.,
& ".@/.B5.,=B,,) /=E:>BL C.74
+,,-+.,
j ".@/.B"4/.<2 :K4: O->O
+,,-+.,
' ".O)>k32 /4"E5,
+,,-+.,
()*+,,-+.,9,,P>:f49.2 \NF5>N:I.+i9>7,E8@ G 2 + . , NI . D "4 " @ . " E 8 @ ( ) * + , , - + . , ()*+,,-+.,9,,P> : f4 9 .2E_? " D3VL 8 ,*9= U_ @ E89DE7E8@ 9,,P>:f49.2!"#$ %&&' -;N>@";? 0"F . :;L (B.-,> 9 G4 N <89 12*1"B:.@!"+.,#h4 9> 74 :;L N; :;L # ,*<= - ()*+,,-+.,9,4 P> : -; - 74 D -VL 8 B> " :;L D3VL8!<FD#W"-.7,k."!"+.,#h49>74@."E8@()*+,,-+., RA 3 X54 + .O" %&&' DEF . ,6 B -D#W " 1"B,6 B -#h4 9> 74 E 8@ 9,,P>:f49.2 ]_L@5*D/"8!"+.,#,*<=-()*+,,-+.,9,4P>: f.(D8+<"\:O!"+.,76 8 7F . "+.,:= 5 ,4 7 QNO2@".- (,>?@1,+E8@#$ %&&` !"(I . #,*+.XD57".,-)Y 12*/6 @ !0F / -.(-/6 @ D/,4 /U.9>"+,,-+.,9,4P>:\:OD-VL8B>":;L %% K>"B.(- %&&' !"".-()*+,,-+.,9,,P>:f49.2 ]_L@1"B,6B-#h49>74E8@f.(D8+<"\:O!"+.,7687F." :=5,47 2@".-,>9:,.9D-VL8B>":;L %j K>"B.(- %&&'
Q !"/L!.#(*R;!#%RS$5)TUV -#,.! +7,/##0/!#:##XY;Z$:!4
<=>(=?(@ABCA@@DCAB(EAF(EGHC@I@J@AK
#!")! -#,6L!-M (NOOP
013
".O Q+/4":,Y D2;LOB\3Q,5"Y GMF5>N+.,NF."B4XB+,,-Q(,@+.,
K=,+45E8@9,4P>: /.-.,U196@\NFD#W" % /6B" \NF1+6 RS K=,+45+68/,F.@12*!0F9,4+., %S K=,+45G247\ g.
+68/,F.@ b x oxttsox ys stwtxv ux xpvs vo x uxu twtxv 0,V8 y wc ]_L@2>+P)*E8@@."/.-.,U 8K49.OQNO2*D8;ON\NFN>@768\#";?
5.++.,:;9L ,4P:> -;+.,2@:="!"K=,+45G247\ g.D34-L E_"? RSRSR +.,!0F9,4+.,NF."+.,88+199B4XB+,,- +.,5>N0. D(,VL8@5>+,12*8=#+,)Y 12*+.,+68/,F.@Q,@@."199 !"#d55=9"> 12*!"8".(7 5*:I.!0FQ(,@/,F.@,.O\NFE8@9,4P:> (,9B@5, b xvt suvt x oxttsox ys st| #,*+89\#NFBOK=,+45+68/,F.@12*+.,!0F9,4+.,]_@L D#W",.O\NF wtxv ux xpvs vo x 0,V8 xvt suvt y c 02>+E8@9,4P>:#,*-.),F8O2* '& 12*,.O\NF5.++.,D#W" +.,!0F9,4+.,!"2>+P)*+.,+68/,F.@199(,9B@5, GMF2@:="!"K=,+45G247\ g.#,*-.),F8O2* %& !",*O*O.B QNO,.O\NF 5 .++.,5I . 0"6 . O\ g . ]_L @ D#W " /6 B "E8@K= , +4 5 b xvt suvt y c /.-.,U196@/6B"E8@@."\NFD#W" Z 2>+P)* \NF1+6 @."88+199B4XB+,,- b x oxttsox c G247\ g.5*:I.!0F,.O\NF-;(B.-1"6"8"12*/-LI.D/-8 @."5>N0.D(,VL8@5>+,12*8=#+,)Y bys stwtxvc 12*@." RSR K=,+45+68/,F.@12*!0F9,4+., +68/,F.@ b xpvs vo xc QNO2M+(F.E8@9,4P>: 8.5B6.5F.@ 9,4 P> : D3VL 8 !0F 9 ,4 + .,D~3.*/6 B "@."\NF QNO:>L B \#2M + (F . K=,+45+68/,F.@12*!0F9,4+.,/.-.,U196@88+\NFD#W" 5*+I.0"N!0F9,4P>: ,>9@."!"2>+P)*199D9JND/,J5!":=+ RS +.,!0F 9 ,4 + .,NF . "+.,88+199B4 X B+,,- +.,5> N 0. /6B"@."0,V8:;LD,;O+B6.+.,,>9D0-.@."199 xvt suvt D(,VL 8 @5> + ,12*8= # +,)Y 12*+.,+6 8 /,F . @Q,@@."199 y -.++B6. D"VL8@5.+2M+(F.5*/.-.,U(B9(=-(=)f.3 (,9B@5, b xvt suvt x oxttsox ys stwtxv 12*7F":="E8@Q(,@+., QNO-89!0FD#W"(B.-,>9G4N<89E8@ ux xpvs vo x 0,V 8 xvt suvt y c 12* GMF,>9D0-. 728N5"/.-.,U#,*0O>NDB2.!"+.,NI.D"4"@." %S +.,!0F9,4+.,:.@B4XB+,,-12*9,40.,5>N+.,Q(,@+., 5.+(B.-768D"VL8@E8@@."!"1762*/6B"
014
#!")! -#,6L!-M (NOOP
<=>(=?(@ABCA@@DCAB(EAF(EGHC@I@J@AK
:#$/!#;M8W1 *&[" :06\(&9&"(](^;"(+*#U-*W#_Y8
9,4P:> D#W"GM,F 9> D0-.@."NF."B4XB+,,-E8@\:O,.O1,+ :;L/.-.,U!0F9,4+.,!"2>+P)* xvt suvt y 199 (,9B@5, QNOD"F"+.,!0F9,4+.,1+6(M6(F.!"+2=6-#TQ7,D(-; D(-;f>)aY ,B-U_@8=7/.0+,,-!+2FD(;O@ 12*K=,+4532>@@." :>? @ !"12*76 . @#,*D:X ]_L @ /6 B "-.+12F B 9,4 P> : 5*D#W " GMF,>9D0-.02>+ b uox xvsu v sc 0,V8:I.+.,+68/,F.@ ,6B-+>9GMF,>9D0-.,.O8VL":>?@:;LD#W"GMF,>9D0-.\:O12* 0,V8 GM,F 9> D0-.76.@<.74!"2>+P)*,6B-+>" b xp svo wc QNO@." Z +2=6-02>+ -;,.O2*D8;ON N>@";?
+.,88+199B4XB+,,- b x oxttsox tpo xc
1 :#$/!#[`! /!#**/3::%$T%/##0(
9,4P> :!0F9 ,4 +.,@."88+199B4 XB+,,- ]_L @9,4 P> : /.-.,U!0F9,4+.,88+199\NF7@>? 176!"/6B"E8@@."Q(,@/,F.@ @."QOK. ,*99/.K.,)M#Qf(!"Q,@@." D<6" \ g. ,*99 9I.9>N"?I.D3VL8!<F!"Q,@@." ,*999I.9>N"?I.D/;O +,*9B"+., 12*E>? " 78"+.,G24 7 QNOD~3.*/I . 0,> 9 G24 7 f> ) aY ! "+2=6 #TQ7,D2;O- #TQ7,D(-; 12*D(-;f>)aY8VL"e 728N5",*99 (B9(=-12*7,B5B>N76.@e :;L5I.D#W"7F8@!<F!"Q,@@." 9,4P:> -;:-; B4XB+,:;5L .I D#W"/I.0,>9@."88+199 \NF1+6 B4XB+,QOK. B4XB+,D(,VL8@+2 B4XB+,\ g. B4XB+,D(-; 12* 8VL"e +.,-;:;-@."B4XB+,!"02.O/.E.B4XB+,,-">9D#W" 5=N1EJ@:;L/I.(>CE8@9,4P>:!"+.,:I.K=,+45 +26.B(V8 9,4P>: /.-.,U!0F9,4+.,1+62+M (F.199(,9B@5,8O6.@1:F5,4@ /.-.,U #,*0O>N(6.!<F56.O!"+.,88+199 12*-;+.,#,*/."@."+>" 8O6.@!+2F<4N,*0B6.@GMF88+19912*:;-@."+68/,F.@ ]_L@:I.!0F 9,4P>:/.-.,U(B9(=-7F":="+.,+68/,F.@Q(,@+.,\NF
N /!#6Y['ab*6Y[2!W+#a8*)6Y/#34,*R -/#7U
3 /!#/8*1#`!)&#))! *R 91!2/##0( <=>(=?(@ABCA@@DCAB(EAF(EGHC@I@J@AK
E>? " 78"!"+.,88+199B4 X B+,,- 5*D,4L - 5.+ EF8+I.0"NE8@2M+(F.+68":;L5*:I.+.,88+199!",.O2*D8;ON ]_L@!"+.,NI.D"4"+.,88+199 9,4P>:(I."_@U_@#d55>O:;L/I.(>C 76.@e 8.:4 | (B.-#28Nf>OE8@Q,@@.":>?@Q,@@." 12*1762* 0"6BOG247 | G2+,*:9768/4L@1BN2F8| (=)f.3E8@G247f>)aY5.++,*9B"+.,G247 | E>?"78"+.,G247!"NF."E8@02>+/-N=2(B.-,F8" b tuv uzux tc 02>+/-N=2 -B2/., b uvtsouz uzux tc | ,*99+.,G247 D(,VL8@5>+, 12*8=#+,)Y
#!")! -#,6L!-M (NOOP
015
".O X,.O=:K4 B4-2:,@ o oz tsoxvtx txv
| (6.!<F56.O!"+.,9I.,=@,>+P.0,V8+.,#,>9D#2;LO" !"8".(7 | #dC0.12*8=#/,,(:;L8.55*D+4NE_?"!" E>?"78"E8@+.,+68/,F.@ 12*-.7,+.,,8@,>9 | (B.-D0-.*/-E8@D:(Q"Q2O;:;L!<F12*7F":=" Q(,@+.,
+.,5>N]V8? 5>N0.D(,V8L @5>+,12*8=#+,)Y bys stwtxv u oxts ux o wtxvc
+.,+68/,F.@Q,@@."8=7/.0+,,- b xpvs vo xc !"/6B"@.",>9D0-.+68/,F.@Q,@@." 9,4P:> 5*5>N:;-@." +68/,F.@:;LD0-.*/-+>9Q(,@+.,1762*#,*Df:DEF.,>9G4N<89 NI . D"4 " +., QNO176 2 *:; - 5*#,*+89\#NF B OB4 X B+, GMF ( B9(= - @."!"176 2 *,*N> 9 12*B4 X B+,Q(,@+.,5.+ /.E.B4XB+,,-76.@e :;-@.":;L\NF,>9-890-.O5*,6B-+>" ,> 9 G4 N <89!"+.,NI . D"4 " @."E8@Q(,@+.,">? " e 7>? @ 176 E>?"78"+.,B.@1G" NI.D"4"@." #,*/."@.",*0B6.@2M+(F. 0,V87>B1:"E8@2M+(F. GM,F 9> D0-.<6B@ GMGF 2470,V8GM5F N> 5I.0"6.O D(,V8L @5>+,12*8=#+,)Y 12*B4XB+,GM8F 8+199 +.,(B9(=-12* 7,B5/89@."+68/,F.@!0F\NF(=)f.312*12FBD/,J5 7.-1G" :;L\NFB.@\BF +.,9,40.,Q(,@+.,:>?@!"/6B"E8@7F":=" +.,D94+ 56.OD@4" 12*+.,NM12!"D,VL8@(B.-#28Nf>O!"+.,:I.@."
9,4 P> : !0F 9 ,4 + .,D#W " GMF 5> N ]V? 8 5> N 0.D(,VL 8 @5> + ,12* 8=#+,)Y:>?@0-N:;L5I.D#W"768Q(,@+., QNO5>N]V?812*5>N0. 5.+GMFG2470,V8GMF5>N5I.0"6.O:>?@!"#,*D:X12*76.@#,*D:X 9,4P>:5*D#W"GMFNI.D"4"+.,D5,5.768,8@,.(. D@VL8"\E+., />L@]V?812*+.,/6@-89 7,B5/89(=)f.312*(=)/-9>74E8@ :>@? ";? 728N<6B@,*O*DB2.+.,88+199 +.,5>N]V8? 5>N0. D(,VL8@5>+,12*8=#+,)Y!0FD#W"\#7.-EF8+I.0"N:;LGMF88+199 \NF,*9=\BF ,B-:>?@#,*/."@."!0F-;+.,5>N/6@7.-+I.0"N+., 12*+.,+68/,F.@ 9,4P>:H \NF5>N!0F-; }.O(B9(=-(=)f.3 ]_L@ #,*+89\#NFBO9=(2.+,GMFD<;LOB<.CD~3.*NF."E8@9,4P>: ]_L@/8N(2F8@+>91G"@.",B-E8@Q(,@+., (8O7,B5/8912*74 N 7.-G2@."!":= + e E>? " 78" D3VL 8 5.+#,*/9+.,)Y E 8@9,4 P> : 2M + (F . /6 B "!0C6 D #W " !0F->L"!5B6.@."!":=+,.O2*D8;ON:I.\NF7,@7.-(=)/-9>74 GMF # ,*+89+.,!"K= , +4 5 #T Q 7,D2; O -12*#T Q 7,D(-; ]_L @ \NF ,> 9 :;L+I.0"N\BF ]_L@+.,7,B5/89";? 9,4P>:H 5*:I.\#3,F8-+>9 /4:K4#,*QO<"Y/6@D/,4-+.,2@:="5.+/I.">+@."()*+,,-+., 7>B1:"E8@2M+(F. /6@D/,4-+.,2@:=" b us x tpvwtxv c :I.!0F 9,4 P> : -; ( B.-,MF 1 2*(B.-D<;L O B<.C!"+,*9B"+.,"I . DEF . RSRS% +.,!0F9,4+.,:.@B4XB+,,-12*9,40.,5>N+., Q(,@+.,+68/,F.@ b x oxttsox ys st| D(,VL8@5>+,5.+76.@#,*D:X!0F1+62M+(F.7.-D@VL8"\EE8@ wtxv ux xpvs vo x uxu twtxv 12*5.+D(,V8E6.OE8@9,4P>:,6B-E8@ r x oxttsox 0,V8 y wc s suvo x 12* o u s suvo x ]_L@D#W"GMFUV80=F" ,.O!0C6E8@9,4P>: !"#,*D:X76.@e :>LBQ2+ 9,4P>:/.-.,U !"+.,!0F 9 ,4 + .,:.@B4 X B+,,-12*9,4 0 .,5> N +., !<FD(,V8E6.O:;L-;";?<6BO:I.+.,7,B5/89(=)f.312*74N7.- Q(,@+.,+68/,F.@ b y wc 9,4P>:H 5*\NF,>9-890-.O!0F (B.-(V 9 0"F . E8@+.,G24 7 D(,VL 8 @5> + ,12*8= # +,)Y ) :I.0"F.:;LD#W"GMF5>N+.,Q(,@+.,E8@2M+(F. ]_L@9,4P>:5*-;0"F.:;L Q,@@."G247:;L7>?@8OM6!"#,*D:XDN;OB+>9D(,V8E6.OE8@9,4P>: 9,40.,D3V8L !0FQ(,@+.,D#W"\#7.-7.,.@DB2.12*@9#,*-.)
016
#!")! -#,6L!-M (NOOP
<=>(=?(@ABCA@@DCAB(EAF(EGHC@I@J@AK
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f:E8@Q(,@+., 12*#h49>74@."f.O!7F9>@(>99>C<. E8@GMF 5> N +.,Q(,@+.,D3VL 8 !0F D #W " \#7.-7.,.@DB2.12* @9#,*-.) QNO/I . "_ + 8OM6 D /-8B6 . +.,:I . @."QNO,> + P. (B.-#28Nf>O12*(=)f.3E8@@."D#W"02>++.,/I.(>C:;L/=N E8@+.,9,40.,Q(,@+.,
RS% K=,+45G247\ g. 9,4 P> : #,*+89K= , +4 5 G24 7 \ g . QNO+.,2@:= " !"Q(,@+.,\ g.76.@e ]_@L ,B-\#U_@ Q,@@."\ g.+ .]<;Bf.3 b o up y ts yzuxvc Q,@@."\ g.32>@@."+ .]K,,-<.74 b up| ost y ts yzuxvc 12*Q,@\ g . 32> @ @." 1/@8.:47OY b zus y ts yzuxvc ]_L@Q,@\ g.:>?@0-N 9,4P>:D#W":>?@GMFUV80=F" 12*!0F9,4+., xvt suvt y #d55=9>" Q,@\ g.!"K=,+4532>@@."\ g.E8@9,4P>:(V8 RS Q,@\ g . + . ]<; B f.3E".N RS% D-+*B> 7 7Y NI.D"4"+.,QNO9,4P>: \9Q8 1"<D<8,>2 D8J"D"8,YO; 5I.+>N b c %S Q,@\ g.32>@@."+ .]K,,-<.74 RRm D-+*B>77Y NI.D"4" +.,QNO9,4P>: "B"(,+.,\ g. 5I.+>N b c ZS Q,@\ g.32>@@."1/@8.:47OYE".N ` D-+*B>77Y NI.D"4" +.,QNO9,4P>: /O.- Q]26. D3.DB8,Y 5I.+>N b y c AS Q,@\ g.32>@@."+ .]K,,-<.74E".N R%m D-+*B>77Y NI.D"4"+.,QNO9,4P>: Q7QO \:O 3.BDB8,Y D-;O"-.,Y 5I.+>N b rry c ".O /,B=K \<OO*B@XY B4XB+,
<=>(=?(@ABCA@@DCAB(EAF(EGHC@I@J@AK
#!")! -#,6L!-M (NOOP
017
!"#/--H/&-<-=0F$ ----------------------------------------------
!"#/--H/&-A--;&J2#O=9&-"& !4&17<J$(
-------------
!"#/--H/&-<-=;&-!>&H5A*+D'
-------------
52Q&(?/&-<-=0F$
,-#8&(59:&;(:&$*+<-=;&-J2# /--H/&-PI:9F3/&-U;X4 (&DY=@-@(<?L7=-=D& -7',-#8&(59:&;(:&$*+<-=;&-7&>?@A BC&D@!-'/&-G,-#HI2'&(J2#BC&D>=6>/--H ".O:4B. 5.,_+
-------------
!"#/--H/&-<--0F$W=<&2
!"#/--H/&-<-=;&-
--------------------------------------
A%&(F/1->9A7<W&DU(
-------------------------------------------------------
---------------
------------------------------------
!"#/--H/&-1->9A7<
BC&D<-=;&-'&($F+>K, -------------
".O34,4O* B68@3O.9.2
".@/.B+,,74+. 7>"K=B"47OY -------------------
$*+,-./0&$F+>K,
BC&D>=6>/--HLBM/7<-HJ2#;(4>D'&(5NO&#/=9 ".OD/"60Y fM,4/>7OY
-----------------------------------
$*+,-./0&/&-12&314&',-#5$6
-------------
".O(.]="QN* .O.<4
/2?4HOFR(&8?-/=9@-'KSST& J2#O2F''&(
BC&D,E=<F1=/&,-#8&(59:&;(:&$*+BC&D,E=<F1=/&".@/=,>7". 7 ),7"*
!"#$%&'"%(")*+,)-."(
BC&D3%&5(=('&(@!-'/&-
BC&D/&-5'=(
".@/.B+,,74+. 7>"K=B"47OY ".O+89<>O K"/=+.C5"Y
BC&D<-=;&-'&( A4>(/2&' -7',-#8&(59:&;(:&$*+ <-=;&".@/.B+,,74+. 7>"K=B"47OY :,>3O.+,9=((2 9,40.,/I.">+@." D2E."=+.,9,4P>:
BC&D/&-5'=( L-7',-#8&(59:&;(:&$*+ <-=;&".O+89<>O K"/=+.C5"Y +.,D@4" 9>C<; ">+2@:="/>-3>"KY
".OB>"<>O ,74"K,
BC&D5$!(=!
BC&DQ&D
".OD/"60Y fM,4/>7OY ".O 4DNQ7* Q(O.-.
BC&D>=6>/--H
BC&D3%&5(=('&(@!-'/&-
BC&DQ&DJ2#OFR(&8?-/=9
-7',-#8&(59:&;(:&$*+<-=;&".OD/"60Y fM,4/>7OY PI7: &% (>D/&-BC&D8?-/=9O2F''&( ".O].9MQ, Q89.,6. PI:7%&(>D/&".OOM(4Q8 Q+D9 ".@/.B3,5>":,Y D+P5=¡.X,;Q,5"Y
-7',-#8&(59:&;(:&$*+<-=;&".OB>"<>O ,74"K, PI:7%&(>D/&-BC&D8?-/=9O2F''&( ".O].9MQ, Q89.,6. PI:7%&(>D/&".OOM(4Q8 Q+D9 ".@/.B3,5>":,Y D+P5=¡.X,;Q,5"Y
-7',-#8&(59:&;(:&$*+<-=;&".O 4DNQ7* Q(O.-. PI:7%&(>D/&".@/.B3,5>":,Y D+P5=¡.X,;Q,5"Y
TTPHD TTPSG TTPMC TTSP GNE-J TTCP TTNE
BNE
GNE NNE SSP S-GNE OBF
<-=0F$U(5!-V7
EPC
CONSTRUCTION
TVC
TTML
TTMC
TTUS TTPH TTQA
!"#/,$/0123%,4*5$/067"89.:5";<,5)"1=# /,"1>.5?7=#9.:*&@(9,?.A51
018
#!")! -#,6L!-M (NOOP
<=>(=?(@ABCA@@DCAB(EAF(EGHC@I@J@AK
';$/%)G'^@'y$/;+ ('Yhhn'()5$-/)= !"#%$ &'()*+!,-%./0/ !"#%$ 1231'4516738./9 :;9<-=$ ><2!39 1,?'@A'BC/= :DB3-EF+/;/8./9 %)3G 3*EF+8/2+1>,9;B3- !"#%$ '()5-$ /)= !"#$%&'() ' @H' IJKJLMNOPQRS' ' ' TJUVJURPNJQ'WNSNPOX ' ' YH' !"#$%': 43'>/Z[Z3!$,' ' ' [3\/[/3!]1)'EF+*$5 ' ^H' IJKJ'I_RN'`RaRKbNR'cXQH'' ' ' d_XH ' eH' IJKJ'I_RN'f'`KRQSRU'' ' ' TJUVJURPNJQ'TJHg'WPXH ' ' hH' IJKJ'I_RNLicj' ' ' TJUVJURPNJQ ' ' kH' IJKJ'I_RN'lJmOU' ' ' TJUVJURPNJQ'lPOH'WPXH ' ' nH' IJKJ'I_RN'lJmOU'oJaXNQpb'' ' ' lPOH'WPXH ' ' qH' IJKJ'I_RN'lJmOU' ' ' `KRQSRU'TJHg'WPXH ' ' rH' IJKJ'I_RN'cJaRU'lJmOU' ' ' lPOH'WPXH ' '@AH' IJKJ'I_RN'sOm'tQOUpK'' ' ' lPOH'WPXH @@H'' IJKJ'I_RN'TJRa'lJmOU' ' ' lPOH'WPXH
'
?)%@(A)B
!$ [8(+*23u!9+->,? !"*+!59+/;"v;*!!(
[;)15/+(
qeq^rrnn@@q
!"*+!59+/*+!w$x/+ w,$--+/%5>%/ !$ [8(+*23u!9+->,? !"*+!59+/;"v;*!!( !$ [8(+*23u!9+->,? !"*+!59+/;"v;*!!(
:%1
*%+,-)./%0&1
?)%24%
5&CD#9 </E5
qeq^rrnnAqk
8.9/u+($
kkYYkAqhAh
kkYYkAqhYh
8.9/u+($
(+[,[})1
kA^Y@k^^@eY
kA^Y@kY^k@@
8.9/u+($
[()1!](+!]
rh@Y@qeAh
rh@Y@qeAk
8.9/u+($
!$ [8(+*23u!9+->,? !"*+!59+/;"v;*!!(
u8!$~3[(!"*+
@^A^^kYAkYe
@^A^rqeYkrr
8.9/u+($
,-%./0/y.!*"Ew,$--+/
u"- 4D!]
khke^qAnkh
khke^qAnkr
8.9/u+($
,-%./0/ !"#$%37G/
u"- 4D!]
khke^qAnkh
khke^qAnkr
8.9/u+($
z,"<*!?>u:{{|+''' [w7G3EF+8/2+1
[()1!](+!]
rh@Y@qeAh
rh@Y@qeAk
8.9/u+($
,-%./0/y.!*"Ew,$--+/
u"- 4D!]
khke^qAnkh
khke^qAnkr
8.9/u+($
,-%./0/y.!*"E w,$--+/%5>%/
u"- 4D!]
khke^qAnkh
khke^qAnkr
8.9/u+($
,-%./0/y.!*"Ew,$--+/
u"- 4D!]
khke^qAnkh
khke^qAnkr
8.9/u+($
#(7%4 04%3!#</5E M&C,*N5 %E#FG+ H)497%9I %E#FG+ )49#E#JK
)/5 :4%+OGEP JLGM>4 :4%+ @ghAAgAAA [8!)1 53,,+!] u8!$~& hgAAAgAAA' +%
@AAHAA
r^H^e
@AAHAA
nAHAA
nhAgAAA'' (+[,[})1/!"-*"< ^AAgAAA''' [8!)1 53,,+!] u8!$~& hAgAAA'' [8!)1 53,,+!] u8!$~& erghAAgAAA'' [8!)1 53,,+!] u8!$~& krghAAgAAA''' [8!)1 53,,+!] u8!$~& h@ghqng^AA''' [8!)1 53,,+!] u8!$~& ^gAAAgAAA'' [8!)1 53,,+!] u8!$~& '' @g@AAgAAA [8!)1 53,,+!] u8!$~&
nhHAA
@AAHAA
@AAHAA
rAHAA
@AAHAA
qAHAA
@AAHAA
hnHhh
@AAHAA
hnHhh
@AAHAA
hrHkn
@AAHAA
hnHhh
@AAHAA
hnHhh
@AAHAA
hnHhh
'
hgAAAgAAA [8!)1 53,,+!] u8!$~&' '
!"#%$ &'()*+!,-%./0/ !"#%$ 37/G '4516738./9 :;9<-=$ ><2!39 1,?'@A'BC/= :DB3-EF+/;/8./9 %)3G 3*EF+8/2+1>,9;B3- !"#%$ '()5-$ /)= !"#$%&'()
' ' ' ' ' ' ' ' ' '
2345)6"7(89 2:45(0945;<=>
@H' !"#$%'4*, 3,'/";'' ' [3\/[/3!]1)'EF+*$5 YH' !"#%$ '/;/ !*+!:{{|+'EF+*$5 ^H' !"#$%'u1+(4},2+w+;[;3!]'' ' EF+*$5 eH' !"#$%'u1+(E)[3\/3)'4},2+!]'' ' [3\/[/3!]1)G'EF+*$5 hH' aJ Ra'sOm'tQOUpK'' ' RVRQ'TJHg'WPXH
*%+,-)./%0&1
2345)6"7(89 2:45(0945;<=>
?)%@(A)B
?)%24%
5&CD#9 </E5
w,$--+/%5>%/
:%1
kk'YYkA'qhAh
kk'YYkA'qhYh
8.9/u+($
z,"<*!?>u:{{|+''' [w7G3EF+8/2+1 z,"<*!?>u:{{|+''' [w7G3EF+8/2+1 z,"<*!?>u:{{|+''' [w7G3EF+8/2+1 z,"<*!?>u:{{|+''' [w7G3EF+8/2+1
:%1
kk'YrAr'YYY^
kk'YrAr'n@kA
8.9/ .!"(u"%y"
:%1
kk'YYek'rrqq
kk'YYen'rree
8.9/u+($
:%1
L
L
8.9/u+($
)GD. /
L
L
8.9/u+($
!"#!$#%&'(&%%)(&'#*&+#*,-(%.%/%&0
#(7%4 04%3!#</5E M&C,*N5 %E#FG+ H)497%9I %E#FG+ )49#E#JK
)/5 :4%+OGEP JLGM>4 :4%+ kAgAAAgAAA'' +% @gh^YgAAAgAAA' +% YhAgAAAgAAA'' +% @kgAAAgAAA' +% YAAghAAgAAA' [1/
1234256178926: #;<<=
@AAHAA
eAHAA
@AAHAA
e@Hrh
@AAHAA
YnHqq
@AAHAA
YAHAA
@AAHAA
hnHhh
019
3
!"#$%&'()(#*+",')'%$ !"#$%&'""('%")"*+,-
-!"#$%.')'%/"01,2.%$*$3 "./!"#$%&'""('%")"*+,-
020
!"#!$% &'(!%) *+,,-
1
2
4
4!""#$%5$(6(7"89:$%$51$" '""('%")"*+,-
;!"#$2#'<.)"<)=/<'77> '""('%")"*+,-
JOY OF ENGINEERING AND ACHIEVEMENT
8
6
?!"#$%@'0$"<$)A6 '""('%")"*+,-
B!"#$%(#)'5$:$"5C7DA(,6/ '""('%")"*+,-
,
-
9
H!"#$%6I$J)",+@$)0+K'.2F> '""('%".*0"#
L!"#$%)'0(:"#$2$(,M/ '""('%".*0"#
E!"#$%F'0/)C6G>".'#'<$)5=> '""('%".*0"#
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%) *+,,-
021
4
2
" !"#$%&'()(#*+",')'%$ !"#$%&123%4&3%-56)"*4%" 78#'""('%"9:32,;'%"<4=>
"-!"#$%@'0$"<$)A6 "./!"#$%&123%4&3%-56)"*4%".%?@A0 BC%DAE"/'%"78#BC%D!"#(:8/%& 78#BC%D?*F?'""(
1
3
,
";!"#$%ND#1O>"P9)'DC7%> "./!"#$%&123%4&3%-5)6 "*4%".%?@A0 BC%D?*F?'""( BI'.)"( 78#4&>?D/%&1JK%#'*2
?!"#$2D+)C7#$"7Q=)7#/ !"#$%&123%4&3%-565BC%D!L*),M*'%" "./!"#$%&123%4&3%-56)"*4%"
"4!"#$2D$06))7'6$"7C#J+0#'7%>" "./!"#$%&123%4&3%-56)"*4%".%?@A0 BC%D)"*4%"/%&-,6?G! 18H%&@'%")"*+,-
022
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
9
8
"B!"#$%0C#RC%")7'#J) "./!"#$%&123%4&3%-56)"*4%" BC%D;N%1&*&/%&AE"/'%"
"E!"#$%&'NS(7/"(M%$51$ "./!"#$%&123%4&3%-56)"*4%" BC%DH%D78#K,O&%$@"'*2
H!"#$%6,*RC%"J#D+6$T<#>
6
-
10
""L!"#$%%9M'(,"(6N* 9:3.N%&?D'%" BC%D?*F?'""(78#BC%D;N%1&*&/%&AE"/'%"
U!"#$2D$0.)<C#@)>"N6G<+V$F)W()<#> 9:3.N%&?D'%" BC%D?*F?'""( BC%D;N%1&*&/%&AE"/'%" 78#BC%DH%D78#K,O&%$@"'*2
"./!"#$%&123%4&3%-56)"*4%" BC%D'%"1/*&78#),=P5 78#&,'8/-@&0,(K,&$Q
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%) *+,,-
023
M=/6))56$)7)0<D,*
2
!"#$%F'0/)C6G>".'#'<$)5=>" !"#$%&'""('%"
1
3
-!"#$%6I$J)",+@$)0+K'.2F>"" '""('%"
4!"#$%)'0(:"#$2$(,M/ '""('%"
M=/6))56$)D))O$"X3/.'<$)=$M1$7,*X@#
2
1
3
!"#$%)'0(:"#$2$(,M/"""""""""""-!"#$%6I$J)",+@$)0+K'.2F>"""""""""""4!"#$%@'0$"<$)A6 !"#$%&'""('%" '""('%" '""('%"
024
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
0&12//32$/4/,5$/06$37+89%:
2
1
3
4
!"#$%6I$J)",+@$)0+K'.2F>"""""""""""-!"#$%ND#1O>"P9)'DC7%>"" """"""""""4!"#$2D+)C7#$"7Q=)7#/" !"#$%&'""('%" '""('%" '""('%" ;!"#$%0C#RC%")7'#J)" """"""""""?!"#$%6,*RC%"J#D+6$T<#> '""('%" '""('%"
0&12//32$/4//;'<=,4$*
4
!
2
1
3
6
!"#$%6I$J)",+@$)0+K.' 2F>"""""""""-!"#$%@'0$"<$)A6" " """""""""""4!"#$2D$06))7'6$"7C#J+0#'7%>"" !"#$%&'""('%" '""('%" '""('%" ;!"#$%RI$#$T",CF#J))5"""""""""?!"#$2D$0<$)+0))="D+Y@CZ0T$7'"""""""""B!"#$2D$0#'D$R3"Q@J'@[ %5C%""""""""""" !""#!$" !""#!$" !""#!$" !"#$%&'()*"+,#-./ !""#!$"
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%) *+,,-
025
%&'#() * +,-./0 12 3,-+$4# 5667
&#$./0"0&12 ,3/"/$# '"(4#&5""65#"1"/789 '"(4#&:);#<&;#9+=1"/<#",>?(5""65#"@A ;)8B5#"C<D=
>?9@A*1#$3+2B* C/17=<2//32$/<89.17+#@ADE:D'F: DG$A5#E:CH..B4'# @$%B +'I>$D; 0B&6BJ,<$:2$/KL2;$ 2$/@4/35*'2+MD/2//32$/ .G$#6#CN<897CO#2//32$/ C/1+42$/&P2$/<G$:$#
026
"#$%#&'"()*#'+ ,- !
8 -$9:;<"<-=> ';";9$ 8 ?"@3$-!""#!$"=";A,. ?"@3$-BC&$D-&$./0=";D$" E)@!""#!$"F(&C,G!$"HDIJ 8 ?"@3$-!""#!$"=";A,. ?"@3$-BC&$D-&$./0=";D$" E)@!""#!$"F(&C,G!$"HDIJ K!""#!$"F(&#/'L$-$C)M-$#F(!N,-=";A,.O 8 PQ ?R 8 I/0?>S8 ?";II$T"/ 4*@+;U+!""#U$VT"W KV$%$+;U+!""#<93$O #D$+;.9$),9+$BXG@ ?"@B.UI/0?>S8 5Q V;MD$4# 5662 YZ[\]^_[ `]][\aZ^b^Z_c d[_e[bf KY`dO V#$4#VJMBV";#Vg$=,-!""#!$"=";A,.h.9 KijYO 8 7 ?R K5662 k ?lCC>=,-O 8 ?lCC>=,?"@3$-!""#!$"=";A,. m_n_ mobZ p\q rc\[en d^\s t^as 566P k ?lCC>=,?"@3$-!""#!$"=";A,. m_n_ mobZ u_vb[ d_q\[ d^\s t^as ?"@3$-!""#!$"=";A,. m_n_ mobZ w_bv d_q\[ d^\s t^as 5666 k ?lCC>=,?"@3$-!""#!$"=";A,. m_n_ mobZ d_q\[ xnbcfb[ w_sy t^as ?"@3$-!""#!$"=";A,. m_n_ mobZ d_q\[ w_[z_[b^Z_c d^\s t^as ?"@3$-!""#!$"=";A,. m_n_ mobZ d_q\[ {_vaZce| d^\s t^as ?"@3$-!""#!$"=";A,. m_n_ mobZkxnbcfb[ w_[z_[b^Z_c w_sy t^as 566} k ?lCC>=,?"@3$-!""#!$"=";A,. m_n_ mobZk~u` w_[z_[b^Z_c ?"@3$-!""#!$"=";A,.E)@!""#!$"F(&C,G!$" m_n_ mobZ xbvbn|Zb uacs oas 5665 k ?lCC>=,?"@3$-!""#!$"=";A,.E)@?"@3$-BC&$D-&$./0=";D$" =";A,. <!)=') -;+ B' -B-'"W9/ CL$!,G 566Q k ?lCC>=,?"@3$-!""#!$"=";A,.E)@!""#!$"F(&C,G!$" =";A,. <!)=') =;VX;B-V E#B-CB#-.W CL$!,G
JOY OF ENGINEERING AND ACHIEVEMENT
56} k ?lCC>=,56} k ?lCC>=,-
?"@3$-!""#!$"=";A,. m_n_k Z\^cbf w_[z_[b^Z_c t^as ?"@3$-!""#!$"=";A,. Z_ pb^ [bv rc\[en w_sy t^as ?"@3$-!""#!$"=";A,. ?"@3$-BC&$D-&$./0=";D$"E)@!""#!$"F(&C,G!$"HDIJ =";A,. <T<9kh.9 4'"W?'B" ,0- CL$!,G K#D$ -O
DG$A5#E:Q#4/,;'<.R<1748%#@?9# 8 h#J#/ DG$A5#E:Q#2,.2$/@?9# 8 21 EDJM S<89T3EQ>E4/,;'<.R<1748%#U 2$/RG$/:DG$A5#E:Q#2,.2$/<89A-E:-'# 8 h#J#/ "V"7289%67#?9@:2'4WB/2,.-@:4/,;'<X 2$/Y?@5BZ#Q#4/,;'<X 8 26y7P2y21} D>&- 4;GB? - 5s 2 %'MCL$-+-D>&-., MD#G -Z@),)$<<$:2[53$%<897CO#0R8@$I$ 8 h#J#/ Q#K$*<89T3EQ>E0R8*5B\<; 0B&+34'D,DZ@:5Z$3D$3)/1/$>4'II'D, 8 h#J#/ 4/,;'<35$>#.G$2'R")!K!"]^_^ 2$/7-Z$/E63C/1>B3Q#/@4CN""]^^ !$"?"@ >#4*@!""#!$" 8 P 4", M C$!!$"?"@ >#., MD#G P 4", M K2QQ O 4*@!""#!$"T"+CV'= 8 h#J#/ 4*@!""#!$"V""D$E)@N;C$"*$4J$T'=E.- 8 h#J#/ 4*@!""#!$"=";D$"4+$#BV/09M 8 h#J#/ ?"@ >#V$#,IF(&g 'D>&8 2 4", M C$!!$"?"@ >#., MD#G 2 4", M K2QQ O 5*'272&`PA*16,W82$/+//5$ =";A,. hG&N;C$"*$T$#4+$#BD -%'M4*@!""#!$"V""D$E)@N;C$"*$4J$T'=E.-E)&+ BD -+J$ -$9:;<"<-=> ';";9$ #/4>*V#=,T;4"=g&+T$#%&'=,M4,==";A,. N"@"$ =,II,T;D),!.",N9WE)@T)$GD),!.",N9W NsUs 5616 E)@N"@"$ =,II,T;=";A,.#D$ -CL$!,G NsUs 5616 E)@#/4+$#"(& 4+$#V$#$"g ?"@V=!$"*WH-3>"!;C./0B!/09+%&'M!,=!$"GL$B-;-M$-%'M=";A,. E)@V$#$"g J+9N, -$=";A,. hG& C MBD#$@V#H-!$"GL$"MTL$ED-JM B? -?"@3$-!""#!$"=";A,. ?"@3$-BC&$D-&$./0=";D$"E)@!""#!$"F(&C,G!$"HDIJ%'M=";A,.
JOY OF ENGINEERING AND ACHIEVEMENT
"#$%#&'"()*#'+ ,- !
027
%&'#() * +,-./0 12 3,-+$4# 5667
&#$E/"/$(,F=3%E$#1#? "3%'"(4#&5""65#"1"/789>?(9+='"G57#98=FH'
>?9@A*1#$3+2B* C/17=<2//32$/<89.17+#@ADE:D'F: DG$A5#E:CH..B4'# @$%B +'I>$D; 0B&6BJ,<$:2$/KL2;$
2$/@4/35*'2+MD/2//32$/ .G$#6#CN<897CO#2//32$/ C/1+42$/&P2$/<G$:$#
DG$A5#E:Q#4/,;'<.R<1748%#@?9# DG$A5#E:Q#2,.2$/@?9# S<89T3EQ>E4/,;'<.R<1748%#U 2$/RG$/:DG$A5#E:Q#2,.2$/<89A-E:-'# "V"7289%67#?9@:2'4WB/2,.-@:4/,;'<X" 2$/Y?@5BZ#Q#4/,;'<X -Z@),)$<<$:2[53$%<897CO#0R8@$I$ Q#K$*<89T3EQ>E0R8*5B\<;" 0B&+34'D,DZ@:5Z$3D$3)/1/$>4'II'D, 4/,;'<35$>#.G$2'R")!K!"]^_^ 2$/7-Z$/E63C/1>B3Q#/@4CN""]^^ " !$"?"@ >#4*@!""#!$" 4*@!""#!$"T"+CV'= 4*@!""#!$"V""D$E)@N;C$"*$4J$T'=E.4*@!""#!$"=";D$"4+$#BV/09M ?"@ >#V$#,IF(&g 'D>&-
8 -$9N;";9@ +J'MN9$=$) 8 "'M?"@3$-!""#!$"=";A,.E)@./0?" !A$.,0+h? 8 "'M?"@3$-!""#!$"=";A,.E)@./0?" !A$.,0+h? K!""#!$"F(&#/'L$-$C)M-$#F(!N,-=";A,.O 8 P} ?R 8 h.9 8 ?";II$<. =";D$"3>"!;C#D$=,* ;T Vg$=,-=,* ;T=";D$"3>"!;CUU;-."W C> $)M!"*W#D$+;.9$),9 ?";II$T"/ 4*@+;U+!""#U$VT"W KV$%$+;U+!""#'>TV$D!$"O C> $)M!"*W#D$+;.9$),9 V#$ ;!V $+;U+!""#B)%./0 !5}1QQ 8 56 !"! $4# 5662 YZ[\]^_[ `]][\aZ^b^Z_c d[_e[bf KY`dO V#$4#VJMBV";#Vg$=,-!""#!$"=";A,.h.9 KijYO 8 7 ?R K5662 k ?lCC>=,-O 8 566} k ?lCC>=,./0?" !A$.,0+h? =";A,. <T<9kh.9 4'"W?'B" ,0- CL$!,G K#D$ -O 5665 k ?lCC>=,!""#!$"=";A,. m_n_k Z\^cbf w_[z_[b^Z_c t^as 56} k ?lCC>=,"'M?"@3$-!""#!$"=";A,. =";A,. <T<9kh.9 4'"W?'B" ,0- CL$!,G K#D$ -O 8 h#J#/ 8 2 EDJM 8 h#J#/ 8 6y2 }yQQQ D>&- 4;GB? - Qs 1 %'MCL$-+-D>&-., MD#G 8 h#J#/ "" " " " " " 8 h#J#/ "" " " " " 8 P 4", M C$!!$"?"@ >#., MD#G P 4",M K2QQ O 8 h#J#/ 8 h#J#/ 8 h#J#/ 8 2 4", M C$!!$"?"@ >#., MD#G 2 4",M K2QQ O
"
5*'272&`PA*16,W82$/+//5$ =";A,. hG&N;C$"*$T$#4+$#BD -%'M4*@!""#!$"V""D$E)@N;C$"*$4J$T'=E.-E)&+ BD -+J$ -$9N;";9@ +J'MN9$=$) #/4>*V#=,T;4"=g&+T$#%&'=,M4,==";A,. N"@"$ =,II,T;D),!.",N9WE)@T)$GD),!.",N9W NsUs 5616 E)@N"@"$ =,II,T;=";A,.#D$ -CL$!,G NsUs 5616 E)@#/4+$#"(& 4+$#V$#$"g ?"@V=!$"*WH-3>"!;C./0B!/09+%&'M!,=!$"GL$B-;-M$-%'M=";A,. E)@V$#$"g J+9N, -$=";A,. hG& C MBD#$@V#H-!$"GL$"MTL$ED-JMB? "'M?"@3$-!""#!$"=";A,. E)@./0?" !A$.,0+h?%'M=";A,.
028
"#$%#&'"()*#'+ ,- !
JOY OF ENGINEERING AND ACHIEVEMENT
%&'#() * +,-./0 12 3,-+$4# 5667
&#$6#050I,JA K#$#6# 5""65#"1"/789
0'E)@-$#V!>) ?"@B .!""#!$"./0C@BV-'ETJMT, M TL$ED-JM?lCC>=,'$9> V,I $T; 4>*+> ;.$M!$"U !A$ !$"'="#D),!V(T"!""#!$" CL$-+-?R./0B? -!""#!$" ?"@V=!$"*W!$".L$M$-
TL$ED-JMH-=";A,.CG.@B=/9-' 0TL$ED-JMH-!;C!$"' 0K./0h#JH J=";A,.CG.@B=/9-O !$"GL$"MTL$ED-JMH-!;C!$"./0E%JM%, B!/09+B- 0'M!,=3>"!;C%'M=";A,. !$"g 'D>&-H-=";A,. %&'N;N$..$M! D#$9./0B? -4G/'$I$ H-U$)./0h#JH J4G/)D><.A 4>*V#=,T;T&'MD&$#T$#N"@"$ =,II,T; =";A,.#D$ -CL$!,G NsUs 5616 !$"B%&$"J+#?"@ >#H-"'=?R 5667 !$"?"@ >#4*@!""#!$" 4*@!""#!$"T"+CV'= 4*@!""#!$"V""D$E)@N;C$"*$4J$T'=E.4*@!""#!$"=";D$"4+$#BV/09M ?"@ >#V$#,IF(&g 'D>&-
8 -$9#$<!<T (X$9$#$ 8 !""#!$"=";A,. 8 !""#!$"=";A,. K!""#!$"F(&#/'L$-$C)M-$#F(!N,-=";A,.O 8 P6 ?R 8 I/0?>S8 ?";II$T"/ 4*@! D#$9 #D$+;.9$),9:;<T@V =@ ; ?"@B.UI/0?>S8 5Q V;MD$4# 5662 YZ[\]^_[ `]][\aZ^b^Z_c d[_e[bf KY`dO V#$4#VJMBV";#Vg$=,-!""#!$"=";A,.h.9 KijYO 8 7 ?R K5662 k ?lCC>=,-O 8 ?lCC>=,?"@3$-!""#!$"=";A,. m_n_ rceZc\\[Zce w_[z_[b^Z_c 5662 k ?lCC>=,!""#!$"=";A,. =";A,. <T<9kh.9 4'"W?'B" ,0- CL$!,G K#D$ -O 566P "'M?"@3$-BC&$D-&$./0=";D$" F(&'L$-+9!$" S$9D-J+9!$"+$MEF-%'M'M4W!" D-J+9.$M! D#$9 S$9!;C!$".,0+h?E)@!$"N, -$4+$##,0-4M%'M#->A9W S$9!$"BM;-E)@=,I / m_n_ rceZc\\[Zce w_[z_[b^Z_c 56}7 k 566P BC&$D-&$./0=";D$"'$+><V S$9C,G!$"E)@+$MEFm_n_ rceZc\\[Zce w_[z_[b^Z_c 8 h#J#/ 8 2 EDJM 8 2 EDJM 8 h#J#/ 8 h#J#/ 8 h#J#/ 8 6 4", M C$!!$"?"@ >#., MD#G P 4", M K 1 O 8 h#J#/ 8 h#J#/ 8 h#J#/ 8 2 4", M C$!!$"?"@ >#., MD#G 2 4", M K2QQ O
5*'272&`PA*16,W82$/+//5$ =";A,. hG&N;C$"*$T$#4+$#BD -%'M4*@!""#!$"V""D$E)@N;C$"*$4J$T'=E.-E)&+ BD -+J$ -$9#$<!<T (X$9$#$ #/4>*V#=,T;4"=g&+T$#%&'=,M4,==";A,. N"@"$ =,II,T;D),!.",N9WE)@T)$GD),!.",N9W NsUs 5616 E)@N"@"$ =,II,T;=";A,.#D$ -CL$!,G NsUs 5616 E)@#/4+$#"(& 4+$#V$#$"g ?"@V=!$"*WH-3>"!;C./0B!/09+%&'M!,=!$"GL$B-;-M$-%'M=";A,. E)@V$#$"g J+9N, -$=";A,. hG& C MBD#$@V#H-!$"GL$"MTL$ED-JM B? -!""#!$"=";A,.%'M=";A,.
JOY OF ENGINEERING AND ACHIEVEMENT
"#$%#&'"()*#'+ ,- !
029
%&'#() * +,-./0 12 3,-+$4# 5667
&#%&/)E",)"L()/IIM 5""65#"1"/789
0'E)@-$#V!>) ?"@B .!""#!$"./0C@BV-'ETJMT, M TL$ED-JM?lCC>=,'$9> V,I $T; 4>*+> ;.$M!$"U !A$
!$"'="#D),!V(T"!""#!$" CL$-+-?R./0B? -!""#!$" ?"@V=!$"*W!$".L$M$-
TL$ED-JMH-=";A,.CG.@B=/9-' 0TL$ED-JMH-!;C!$"' 0K./0h#JH J=";A,.CG.@B=/9-O !$"GL$"MTL$ED-JMH-!;C!$"./0E%JM%, B!/09+B- 0'M!,=3>"!;C%'M=";A,. !$"g 'D>&-H-=";A,. %&'N;N$..$M! D#$9./0B? -4G/'$I$ H-U$)./0h#JH J4G/)D><.A 4>*V#=,T;T&'MD&$#T$#N"@"$ =,II,T; =";A,.#D$ -CL$!,G NsUs 5616 !$"B%&$"J+#?"@ >#H-"'=?R 5667 !$"?"@ >#4*@!""#!$" 4*@!""#!$"T"+CV'= 4*@!""#!$"V""D$E)@N;C$"*$4J$T'=E.4*@!""#!$"=";D$"4+$#BV/09M ?"@ >#V$#,IF(&g 'D>&-
030
"#$%#&'"()*#'+ ,- !
8 -$M-;CN" C"*@C;TTW 8 !""#!$"=";A,. 8 !""#!$"=";A,. K!""#!$"F(&#/'L$-$C)M-$#F(!N,-=";A,.O 8 P} ?R 8 h.9 8 ?";II$<. 4*@=";D$"3>"!;C KV$%$!$"BM;-O #D$+;.9$),9+;V4'-X;- ?"@B.UVD", 'B#";!$ ?";II$T"/ 4*@',!A"U$VT"W C> $)M!"*W#D$+;.9$),9 8 5k55 #/-$4# 56} YZ[\]^_[ w\[^Z ]b^Z_c d[_e[bf KYwdO V#$4#VJMBV";#Vg$=,-!""#!$"=";A,.h.9 KijYO 8 7 ?R K5662 k ?lCC>=,-O 8 566Q k ?lCC>=,!""#!$"=";A,. =";A,. <T<9kh.9 4'"W?'B" ,0- CL$!,G K#D$ -O ?"@3$-!""#!$"=";A,. =";A,. j{mt CL$!,G K#D$ -O ?"@3$-!""#!$"=";A,. =";A,. '#$"/ CL$!,G K#D$ -O ?"@3$-!""#!$"=";A,. <"ME"#'#$"/E)@"/V'"W. CL$!,G !""#!$"=";A,. !""#!$"V""D$E)@N;C$"*$4J$T'=E.=";A,. C">Mh.9 h+"W E'-GW B4B=; ) CL$!,G K#D$ -O 5617 k ?lCC>=,!""#!$""'M?"@3$-=";D$"'$+><V =";A,. ';T$B)/9-h.9 G/B+) '?B#-TW CL$!,G K#D$ -O 565P k 5617 "'M?"@3$-!""#!$"=";A,. =";A,. ';T$B)/9-h.9 G/B+) '?B#-TW CL$!,G K#D$ -O 5655 k 565P F(&C,G!$"EF-!!$"BM;=";A,. ';T$B)/9-h.9 G/B+) '?B#-TW CL$!,G K#D$ -O 8 } EDJM 8 2 EDJM 8 2 EDJM 8 }y 5y5Q7 D>&- 4;GB? - Qs 7 %'MCL$-+-D>&-., MD#G 8 h#J#/ 8 h#J#/ 8 P 4", M C$!!$"?"@ >#., MD#G P 4", M K2QQ O 8 h#J#/ 8 h#J#/ 8 h#J#/ 8 2 4", M C$!!$"?"@ >#., MD#G 2 4", M K2QQ O
JOY OF ENGINEERING AND ACHIEVEMENT
5*'272&`PA*16,W82$/+//5$ =";A,. hG&N;C$"*$T$#4+$#BD -%'M4*@!""#!$"V""D$E)@N;C$"*$4J$T'=E.-E)&+ BD -+J$ -$M-;CN" C"*@C;TTW #/4>*V#=,T;4"=g&+T$#%&'=,M4,==";A,. N"@"$ =,II,T;D),!.",N9WE)@T)$GD),!.",N9W NsUs 5616 E)@N"@"$ =,II,T;=";A,.#D$ -CL$!,G NsUs 5616 E)@#/4+$#"(& 4+$#V$#$"g ?"@V=!$"*WH-3>"!;C./0B!/09+%&'M!,=!$"GL$B-;-M$-%'M=";A,. E)@V$#$"g J+9N, -$=";A,. hG& C MBD#$@V#H-!$"GL$"MTL$ED-JMB? !""#!$"=";A,.%'M=";A,.
JOY OF ENGINEERING AND ACHIEVEMENT
"#$%#&'"()*#'+ ,- !
031
%&'#() * +,-./0 12 3,-+$4# 5667
&#$9/F#,)#"G5 5""65#"1"/789 "3%'"(4#&:);#<&;#9+=1"/<#"3#F2 0N,O= #$0P"%5#",O= #$'"(6A ?%#&,>?(O= #$F/QF5""6, 5""65#"N""<#>?(E/)#"L#P=#I31>9& 5""65#"1""789R/1#?
>?9@A*1#$3+2B* C/17=<2//32$/<89.17+#@ADE:D'F:
DG$A5#E:CH..B4'#
@$%B +'I>$D, 0B&6BJ,<$:2$/KL2;$ 2$/@4/35*'2+MD/2//32$/
.G$#6#CN<897CO#2//32$/ C/1+42$/&P2$/<G$:$#
DG$A5#E:Q#4/,;'<.R<1748%#@?9# DG$A5#E:Q#2,.2$/@?9# S<89T3EQ>E4/,;'<.R<1748%#U
032
"#$%#&'"()*#'+ ,- !
8 -$9.;+$ C$" ! 8 !""#!$"=";A,.E)@"'M?"@3$-BC&$D-&$./0=";D$"'$+><V S$9<4"M!$" S$9?"@#()M$-E)@ S$9+;U+!""# !""#!$"V""D$E)@N;C$"*$4J$T'=E.!""#!$"=""A,. ;=$) 8 !""#!$"=";A,.E)@"'M?"@3$-BC&$D-&$./0=";D$"'$+><V S$9<4"M!$" S$9?"@#()M$-E)@ S$9+;U+!""# !""#!$"V""D$E)@N;C$"*$4J$T'=E.!""#!$"=""A,. ;=$) K!""#!$"F(&#/'L$-$C)M-$#F(!N,-=";A,.O 8 P2 ?R 8 h.9 8 ?";II$T"/ 4*@+;U+!""#U$VT"W KV$%$+;U+!""#<93$O #D$+;.9$),9B /9MHD#J 8 21 3,-+$4# 5666 w_fz\c|b^Z_c u [ \n u\fZcb[ 2 !># $N,-3W 566} w_fz\c|b^Z_c u [ \n u\fZcb[ 55 !># $N,-3W 5662 YZ[\]^_[ `]][\aZ^b^Z_c d[_e[bf KY`dO 5} !"! $4# 566Q Zcbc]\ _[ p_c k Zcbc]\ YZ[\]^_[ K pYO 2Q !"! $4# 566Q ~ca\[|^bcaZce ^o\ cabf\c^bv _ Zcbc]Zbv u^b^\f\c^| K~ uO V#$4#VJMBV";#Vg$=,-!""#!$"=";A,.h.9 KijYO 8 7 ?R K5662 k ?lCC>=,-O 8 ?lCC>=,!""#!$"=";A,.E)@"'M?"@3$-BC&$D-&$./0=";D$"'$+><V S$9<4"M!$" S$9?"@#()M$-E)@ S$9+;U+!""# !""#!$"=""A,. ;=$) =";A,. <T<9kh.9 4'"W?'B" ,0- CL$!,G K#D$ -O 566P k ?lCC>=,!""#!$"=";A,. m_n_ mobZ d_q\[ {_vaZce| d^\s t^as 566P !""#!$"=";A,.E)@"'M?"@3$-BC&$D-&$./0=";D$"'$+><V S$9<4"M!$"E)@ S$9?"@#()M$- 3>"!;C? <T"B4#/E)@<"M!),0E)@D-J+9M$-B N$@!;C =";A,. <T<9kh.9 4'"W?'B" ,0- CL$!,G K#D$ -O 566} k ?lCC>=,!""#!$"=";A,.E)@"'M!""#!$"F(&C,G!$" m_n_ mobZ xbvbn|Zb uacs oas 566} k 5666 !""#!$"=";A,.E)@"'M?"@3$-BC&$D-&$./0=";D$"'$+><V S$9<4"M!$" S$9?"@#()M$-E)@ S$9+;U+!""# =";A,. <T<9kh.9 4'"W?'B" ,0- CL$!,G K#D$ -O 5661 k ?lCC>=,!""#!$"V""D$E)@N;C$"*$4J$T'=E.=";A,. <T<9kh.9 4'"W?'B" ,0- CL$!,G K#D$ -O 5665 k ?lCC>=,!""#!$"=";A,. =";A,. <!)=') -;+ B' -B-'"W9/ CL$!,G 5662 k ?lCC>=,!""#!$"=";A,. m_n_k Z\^cbf w_[z_[b^Z_c t^as 8 h#J#/ 8 } EDJM
JOY OF ENGINEERING AND ACHIEVEMENT
2$/RG$/:DG$A5#E:Q#2,.2$/<89A-E:-'# "V"7289%67#?9@:2'4WB/2,.-@:4/,;'<X""" 2$/Y?@5BZ#Q#4/,;'<X -Z@),)$<<$:2[53$%<897CO#0R8@$I$ Q#K$*<89T3EQ>E0R8*5B\<;" 0B&+34'D,DZ@:5Z$3D$3)/1/$>4'II'D; 4/,;'<35$>#.G$2'R")!K!"]^_^ 2$/7-Z$/E63C/1>B3Q#/@4CN""]^^ !$"?"@ >#4*@!""#!$" 4*@!""#!$"T"+CV'= 4*@!""#!$"V""D$E)@N;C$"*$4J$T'=E.4*@!""#!$"=";D$"4+$#BV/09M ?"@ >#V$#,IF(&g 'D>&-
8 h#J#/ "" " " " " 8 PyP5}y1QQ D>&- 4;GB? - 2s2 %'MCL$-+-D>&-., MD#G 8 h#J#/ "" " " " " 8 h#J#/ 8 6 4", M C$!!$"?"@ >#., MD#G P 4", M K 1 O 8 h#J#/ 8 1 4", M C$!!$"?"@ >#., MD#G } 4",M K76 O 8 h#J#/ 8 2 4", M C$!!$"?"@ >#., MD#G 2 4",M K2QQ O
5*'272&`PA*16,W82$/+//5$ =";A,. hG&N;C$"*$T$#4+$#BD -%'M4*@!""#!$"V""D$E)@N;C$"*$4J$T'=E.-E)&+ BD -+J$ -$9.;+$ C$" ! #/4>*V#=,T;4"=g&+T$#%&'=,M4,==";A,. N"@"$ =,II,T;D),!.",N9WE)@T)$GD),!.",N9W NsUs 5616 E)@N"@"$ =,II,T;=";A,.#D$ -CL$!,G NsUs 5616 E)@#/4+$#"(& 4+$#V$#$"g ?"@V=!$"*WH-3>"!;C./0B!/09+%&'M!,=!$"GL$B-;-M$-%'M=";A,. E)@V$#$"g J+9N, -$=";A,. hG& C MBD#$@V#H-!$"GL$"MTL$ED-JMB? !""#!$"=";A,.E)@"'M?"@3$-BC&$D-&$./0=";D$"'$+><V S$9<4"M!$" S$9?"@#()M$-E)@ S$9+;U+!""# !""#!$"V""D$E)@N;C$"*$4J$T'=E.-E)@ !""#!$"=""A,. ;=$)%'M=";A,.
JOY OF ENGINEERING AND ACHIEVEMENT
"#$%#&'"()*#'+ ,- !
033
%&'#(() * +,-./0 12 3,-+$4# 5667
&#$0&"/6#K#,68ING035( 5""65#"1"/789
>?9@A*1#$3+2B* DG$A5#E:CH..B4'# @$%> +'I>$D, 0B&6BJ,<$:2$/KL2;$ 2$/@4/35*'2+MD/2//32$/ .G$#6#CN<897CO#2//32$/ C/1+42$/&P2$/<G$:$#
DG$A5#E:Q#4/,;'<.R<1748%#@?9# DG$A5#E:Q#2,.2$/@?9# S<89T3EQ>E4/,;'<.R<1748%#U 2$/RG$/:DG$A5#E:Q#2,.2$/<89A-E:-'# "V"7289%67#?9@:2'4WB/2,.-@:4/,;'<X" 2$/Y?@5BZ#Q#4/,;'<X -Z@),)$<<$:2[53$%<897CO#0R8@$I$ Q#K$*<89T3EQ>E0R8*5B\<; 0B&+34'D,DZ@:5Z$3D$3)/1/$>4'II'D; 4/,;'<35$>#.G$2'R")!K!"]^_^ 2$/7-Z$/E63C/1>B3Q#/@4CN""]^^ !$"?"@ >#4*@!""#!$" 4*@!""#!$"T"+CV'= 4*@!""#!$"V""D$E)@N;C$"*$4J$T'=E.4*@!""#!$"=";D$"4+$#BV/09M ?"@ >#V$#,IF(&g 'D>&-
8 -$9<-";#$X$ #,TV <'!@ 8 !""#!$"=";A,. 8 6} ?R 8 I/0?>S8 ?";II$T"/ 4*@-;T;U$VT"W KV$%$", U$VT"WO #D$+;.9$),9B4<' ?"@B.UI/0?>S8 7 #/-$4# 5667 YZ[\]^_[ `]][\aZ^b^Z_c d[_e[bf KY`dO V#$4#VJMBV";#Vg$=,-!""#!$"=";A,.h.9 KijYO 8 2 ?R } BG '- 27 +,- K2} V;MD$4# 566P k ?lCC>=,-O 8 566P k ?lCC>=,!""#!$"=";A,. =";A,. <T<9kh.9 4'"W?'B" ,0- CL$!,G K#D$ -O "'MD,+D-&$ S$9N, -$3>"!;C woZn_ab w_[z_[b^Z_c 5666 F(&C,G!$".,0+h? S$9N, -$3>"!;C 2 woZn_ab w_[z_[b^Z_c 5661 "'MF(&C,G!$".,0+h? S$9N, -$3>"!;C"@D+J$M?"@B.U F(&C,G!$".,0+h? S$9N, -$3>"!;CT)$GB'BX/9 woZn_ab w_[z_[b^Z_c 56}6 F(&C,G!$".,0+h? S$9N, -$3>"!;C? <T"B)/9#E)@? <T"B4#/ woZn_ab w_[z_[b^Z_c 56}1 F(&C,G!$" !)>J#M$-N, -$3>"!;C? <T"B)/9#E)@? <T"B4#/ woZn_ab w_[z_[b^Z_c 8 h#J#/ 8 2 EDJM 8 h#J#/ 8 h#J#/ 8 h#J#/ 8 h#J#/ 8 6 4", M C$!!$"?"@ >#., MD#G P 4", M K 1 O 8 h#J#/ 8 h#J#/ 8 h#J#/ 8 2 4", M C$!!$"?"@ >#., MD#G 2 4",M K2QQ O
5*'272&`PA*16,W82$/+//5$ =";A,. hG&N;C$"*$T$#4+$#BD -%'M4*@!""#!$"V""D$E)@N;C$"*$4J$T'=E.-E)&+ BD -+J$ -$9<-";#$X$ #,TV <'!@ #/4>*V#=,T;4"=g&+T$#%&'=,M4,==";A,. N"@"$ =,II,T;D),!.",N9WE)@T)$GD),!.",N9W NsUs 5616 E)@N"@"$ =,II,T;=";A,.#D$ -CL$!,G NsUs 5616 E)@#/4+$#"(& 4+$#V$#$"g ?"@V=!$"*WH-3>"!;C./0B!/09+%&'M!,=!$"GL$B-;-M$-%'M=";A,. E)@V$#$"g J+9N, -$=";A,. hG& C MBD#$@V#H-!$"GL$"MTL$ED-JMB? !""#!$"=";A,.%'M=";A,.
034
"#$%#&'"()*#'+ ,- !
JOY OF ENGINEERING AND ACHIEVEMENT
%&'#() * +,-./0 12 3,-+$4# 5667
&#$Q/F("857M,E/&/)#"6LM 5""65#"3/N"(>?('"(4#&5""65#"I"F)N31
>?9@A*1#$3+2B* C/17=<2//32$/<89.17+#@ADE:D'F: DG$A5#E:CH..B4'# @$%B +'I>$D, 0B&6BJ,<$:2$/KL2;$
2$/@4/35*'2+MD/2//32$/
.G$#6#CN<897CO#2//32$/ C/1+42$/&P2$/<G$:$#
8 -$9U;+@",!AW N;-;C$"#*W 8 !""#!$"';V"@E)@?"@3$-!""#!$"T"+CV'= 8 !""#!$"';V"@E)@?"@3$-!""#!$"T"+CV'= 8 P} ?R 8 h.9 8 ?";II$<. 4*@=";D$"", !;C #D$+;.9$),9#;--;<XT&$ ?"@B.UVD", 'B#";!$ ?";II$T"/ 4*@", U$VT"W #D$+;.9$),9B /9MHD#J ?"@!$U-/9=,T"G&$-+; $ /N=,I / wbvZ _[cZb w\[^Z \a d vZ] `]]_ c^bc^ ic^\[cbv \ \c \ u\[ Z]\ rc[_vv\a `e\c^ w\[^Z \a ic^\[cbv ` aZ^_[ w\[^Z \a [b a r bfZc\[ ~cZ \[|Z^n _ wbvZ _[cZby t_| `ce\v\|y ~sus`s F(&B /09+ $IG&$- $A/'$!" 8 5 N UC;!$9- 5667
{ v_] mb m[bZcZce u]o__vy wbvZ _[cZby ~sus`s ijY t c]o\_c [Z\ ce 1 5Q2} ¡ t\ebv Z| | _[ YZ[\]^_[| `[Z|Zce [_f _[\Zec jz\[b^Z_c| 5 T>)$4# 5667 ` aZ^ w_ffZ^^\\ _[ fK k`w O 2P T>)$4# 5667 w_vv\]^Z \ `]^Z_c `ebZc|^ w_[[ z^Z_c w_c \[\c]\ 56 V;MD$4# 5667 Ywd \ cZ_c 5} #;g>-$9- 5667 pb^Z_cbv YZ[\]^_[ w_c \[\c]\KpYwO } #;g>-$9- 5667 w_[z\[b^\ ¢_ \[cbc]\ Zc ^o\ d\[|z\]^Z \ _ ic \|^_[| Kw¢ _[ fO 5}k56 B#A$9- 5667 {_q ^_ x\b| [\ ^o\ u ]]\|| _ w_[z_[b^\ u^[b^\en K{xuO 2 B#A$9- 5667 YZ[\]^_[ t c]o\_c [Z\ ce 1k} #/-$4# 5667 u ]]\|| v _[f vb^Z_c bca r \] ^Z_c _ u^[b^\en Ku rO V#$4#VJMBV";#Vg$=,-!""#!$"=";A,.h.9 KijYO 52 T>)$4# 566P w_c£Z]^ _ ic^\[\|^ 8 Zeo^Zce ` |Z \ K dmO VL$-,!M$-4*@!""#!$"!L$!,=D),!.",N9WE)@ T)$GD),!.",N9W K!)TO T>)$4# 566P w_vv\]^Z \ `]^Z_c `ebZc|^ w_[[ z^Z_c w_c \[\c]\ 2}k26 T>)$4# 5665 _v\ _ ^o\ wobZ[fbc d[_e[bf K wdO 2} k 26 !># $N,-3W 566Q ` aZ^ w_ffZ^^\\ d[_e[bf K`wdO 52 N A $4# k 2 #;g-> $9- 56}7 YZ[\]^_[ w\[^Z ]b^\ d[_e[bf KYwdO 27 N A $4# 56}7 YZ[\]^_[ `]][\aZ^b^Z_c d[_e[bf KY`dO V#$4#VJMBV";#Vg$=,-!""#!$"=";A,.h.9 KijYO 8 7 ?R K5662 k ?lCC>=,-O 8 ?lCC>=,F(& J+9!""#!$"F(&'L$-+9!$" VJ+-M$-T"+CV'= $9H=";A,. h.94# CL$!,G K#D$ -O 566P k ?lCC>=,!""#!$"';V"@E)@?"@3$-!""#!$"T"+CV'= =";A,. B' N),V B' -BT'"WB.-B#&-.W CL$!,G K#D$ -O 5661 k ?lCC>=,!""#!$"';V"@E)@!""#!$"T"+CV'= =";A,. icZ1 YZeZ^bv CL$!,G K#D$ -O
JOY OF ENGINEERING AND ACHIEVEMENT
"#$%#&'"()*#'+ ,- !
035
5665 k ?lCC>=,5662 k ?lCC>=,DG$A5#E:Q#4/,;'<.R<1748%#@?9# DG$A5#E:Q#2,.2$/@?9# S<89T3EQ>E4/,;'<.R<1748%#U 2$/RG$/:DG$A5#E:Q#2,.2$/<89A-E:-'# "V"7289%67#?9@:2'4WB/2,.-@:4/,;'<X""" 2$/Y?@5BZ#Q#4/,;'<X -Z@),)$<<$:2[53$%<897CO#0R8@$I$ Q#K$*<89T3EQ>E0R8*5B\<;" 0B&+34'D,DZ@:5Z$3D$3)/1/$>4'II'D; 4/,;'<35$>#.G$2'R")!K!"]^_^ 2$/7-Z$/E63C/1>B3Q#/@4CN""]^^ !$"?"@ >#4*@!""#!$" 4*@!""#!$"T"+CV'= 4*@!""#!$"V""D$E)@N;C$"*$4J$T'=E.4*@!""#!$"=";D$"4+$#BV/09M ?"@ >#V$#,IF(&g 'D>&-
8 } EDJM 8 h#J#/
!""#!$"';V"@E)@?"@3$-!""#!$"T"+CV'= =";A,. B' '+;.9$ CL$!,G K#D$ -O !""#!$"';V"@E)@?"@3$-!""#!$"T"+CV'= =";A,. <T<9kh.9 4'"W?'B" ,0- CL$!,G K#D$ -O
8 h#J#/ "" " " " " 8 2Q}yP7Q D>&- 4;GB? - QsQ5 %'MCL$-+-D>&-., MD#G 8 h#J#/ "" " " " " 8 h#J#/
"
"
"
"
8 6 4", M C$!!$"?"@ >#., MD#G P 4", M K 1 O 8 P 4", M C$!!$"?"@ >#., MD#G P 4",M K2QQ O 8 h#J#/ 8 h#J#/ 8 2 4", M C$!!$"?"@ >#.,M D#G 2 4",M K2QQ O
5*'272&`PA*16,W82$/+//5$ =";A,. hG&N;C$"*$T$#4+$#BD -%'M4*@!""#!$"V""D$E)@N;C$"*$4J$T'=E.-E)&+ BD -+J$ -$9U;+@",!AW N;-;C$"#*W #/4>*V#=,T;4"=g&+T$#-;9$#!""#!$"';V"@ %&'=,M4,==";A,. N"@"$ =,II,T;D),!.",N9WE)@T)$GD),!.",N9W NsUs 5616 E)@N"@"$ =,II,T;=";A,.#D$ -CL$!,G NsUs 5616 E)@#/4+$#"(& 4+$#V$#$"g ?"@V=!$"*WH-3>"!;C./0B!/09+%&'M!,=!$"GL$B-;-M$-%'M=";A,. E)@V$#$"g J+9N, -$=";A,. hG& C MBD#$@V#H-!$"GL$"M TL$ED-JMB? -!""#!$"';V"@E)@?"@3$-!""#!$"T"+CV'=%'M=";A,.
036
"#$%#&'"()*#'+ ,- !
JOY OF ENGINEERING AND ACHIEVEMENT
%&'#() * +,-./0 12 3,-+$4# 5667
&#$5*#4",32 9#"F2 S/E%QM 5""65#"3/N"(>?(5""65#"I"F)N31 5""65#"N""<#>?(E/)#"L#P=#I31>9& '"(4#&5""65#"1"/<#"PF#6:N+=$% '"(4#&5""65#"1""789R/1#?
>?9@A*1#$3+2B* C/17=<2//32$/<89.17+#@ADE:D, M
DG$A5#E:CH..B4'#
@$%B +'I>$D, 0B&6BJ,<$:2$/KL2;$
2$/@4/35*'2+MD/2//32$/
.G$#6#CN<897CO#2//32$/ C/1+42$/&P2$/<G$:$#
DG$A5#E:Q#4/,;'<.R<1748%#@?9# DG$A5#E:Q#2,.2$/@?9# S<89T3EQ>E4/,;'<.R<1748%#U 2$/RG$/:DG$A5#E:Q#2,.2$/<89A-E:-'# V"7289%67#?9@:2'4WB/2,.-@:4/,;'<X 2$/Y?@5BZ#Q#4/,;'<X -Z@),)$<<$:2[53$%<897CO#0R8@$I$
8 -$9!L$3" '>.$"+> ;NMUW 8 !""#!$"V""D$E)@N;C$"*$4J$T'=E.?"@3$-4*@!""#!$"=";D$"4+$#BV/09M !""#!$"';V"@E)@!""#!$"T"+CV'= ?"@3$-!""#!$"=""A,. ;=$) 8 !""#!$"V""D$E)@N;C$"*$4J$T'=E.?"@3$-4*@!""#!$"=";D$"4+$#BV/09M !""#!$"';V"@E)@!""#!$"T"+CV'= ?"@3$-!""#!$"=""A,. ;=$) 8 7} ?R 8 h.9 8 ?";II$<. 4*@+;U+!""#U$VT"W KV$%$+;U+!""#<"MM$-O Vg$=,-G,#VT,G.W ?"@B.UB9'"#-/ ?";II$T"/ 4*@+;.9$U$VT"W KV$%$B4#/+;U+!""#O C> $)M!"*W#D$+;.9$),9 8 5 N UC;!$9- 5667 ijY t c]o\_c [Z\ ce 1 5Q2} ¡ t\ebv Z| | _[ YZ[\]^_[| `[Z|Zce [_f _[\Zec jz\[b^Z_c| 5 T>)$4# 5667 `c^Zkw_[[ z^Z_c _[ r \] ^Z \ d[_e[bf K`wrdO 5 T>)$4# 5667 ` aZ^ w_ffZ^^\\ _[ f 56 V;MD$4# 5667 Ywd \ cZ_c 6 V;MD$4# 5667 wob[^\[\a YZ[\]^_[ r \c^ 2P N A $4# 5667 YZ[\]^_[ YZcc\[ mbv 2P N A $4# 5667 `cc bv ¢\c\[bv x\\^Zce 5} #;g>-$9- 5667 pb^Z_cbv YZ[\]^_[ w_c \[\c]\ KpYwO 21 #!"$4# k 2Q #/-$4# 5667 YZ[\]^_[| w\[^Z ]b^Z_c d[_e[bf KYwdO 21k2} #;g>-$9- 566P _v\ _ ^o\ w_fz\c|b^Z_c w_ffZ^^\\ K wwO 56 #;g>-$9- 5665 x_cZ^_[Zce _ ^o\ ¤ bvZ^n _ Zcbc]Zbv \z_[^Zce Kx O 52 N UC;!$9- 5662 x_cZ^_[Zce ^o\ ic^\[cbv ` aZ^ c]^Z_c Kxi`O 57 T>)$4# 5662 x_cZ^_[Zce ^o\ un|^\f _ ic^\[cbv w_c^[_v bca Z| xbcbe\f\c^ Kxi O 5P !,-9$9- 5662 YZ[\]^_[ `]][\aZ^b^Z_c d[_e[bf KY`dO 52 V;MD$4# 5662 ` aZ^ w_ffZ^^\\ d[_e[bf K`wdO V#$4#VJMBV";#Vg$=,-!""#!$"=";A,.h.9 KijYO 8 7 ?R K5662 k ?lCC>=,-O 8 5661 k ?lCC>=,!""#!$"V""D$E)@N;C$"*$4J$T'=E.?"@3$-!""#!$"=";D$"4+$#BV/09M ?"@3$-!""#!$"=""A,. ;=$) =";A,. <T<9kh.9 4'"W?'B" ,0- CL$!,G K#D$ -O 5662 k ?lCC>=,!""#!$"';V"@E)@!""#!$"T"+CV'= =";A,. <T<9kh.9 4'"W?'B" ,0- CL$!,G K#D$ -O 8 h#J#/ 8 h#J#/ 8 h#J#/ 8 22}y7QQ D>&- 4;GB? - QsQ5 %'MCL$-+-D>&-., MD#G 8 h#J#/
JOY OF ENGINEERING AND ACHIEVEMENT
"#$%#&'"()*#'+ ,- !
037
Q#K$*<89T3EQ>E0R8*5B\<; 0B&+34'D,DZ@:5Z$3D$3)/1/$>4'II'D, 4/,;'<35$>#.G$2'R")!K!"]^_^ 2$/7-Z$/E63C/1>B3Q#/@4CN""]^^ !$"?"@ >#4*@!""#!$" 4*@!""#!$"T"+CV'= 4*@!""#!$"V""D$E)@N;C$"*$4J$T'=E.4*@!""#!$"=";D$"4+$#BV/09M ?"@ >#V$#,IF(&g 'D>&-
8 h#J#/ 8P 8P 8} 8} 82
4", M 4", M 4", M 4", M 4", M
C$!!$"?"@ >#., MD#G P C$!!$"?"@ >#., MD#G P C$!!$"?"@ >#., MD#G } C$!!$"?"@ >#., MD#G } C$!!$"?"@ >#., MD#G 2
4", M K2QQ O 4", M K2QQ O 4", M K2QQ O 4", M K2QQ O 4", M K2QQ O
5*'272&`PA*16,W82$/+//5$ =";A,. hG&N;C$"*$T$#4+$#BD -%'M4*@!""#!$"V""D$E)@N;C$"*$4J$T'=E.-E)&+ BD -+J$ -$9!L$3" '>.$"+> ;NMUW #/4>*V#=,T;4"=g&+T$#-;9$#!""#!$"';V"@ %&'=,M4,==";A,. N"@"$ =,II,T;D),!.",N9WE)@T)$GD),!.",N9W NsUs5616 E)@N"@"$ =,II,T;=";A,.#D$ -CL$!,G NsUs 5616 E)@#/4+$#"(& 4+$#V$#$"g ?"@V=!$"*WH-3>"!;C./0B!/09+%&'M!,=!$"GL$B-;-M$-%'M=";A,. E)@V$#$"g J+9N, -$=";A,. hG& C MBD#$@V#H!$"GL$"MTL$ED-JMB? -!""#!$"V""D$E)@N;C$"*$4J$T'=E.- ?"@3$-4*@!""#!$"=";D$"4+$#BV/09M !""#!$"';V"@E)@!""#!$"T"+CV'=E)@ ?"@3$-!""#!$"=""A,. ;=$)%'M=";A,.
038
"#$%#&'"()*#'+ ,- !
JOY OF ENGINEERING AND ACHIEVEMENT
!"#$%&'&()*+,-&./&0)*(12#&3445
!"#$%&'( !)!&*+, -##.-!#*$/#,01,-##.-!#2#%3/*4 5#,6! +7,-##.-!#/##8!01,9$3!#7!+:!2*40;
!"#$%&'()*+,%& 6&*1789(:;&&*1<1:"2=& & & & & -.&/01+..)+(.12"3&/*'#$4564786& 6&>8=01*2'=?88#?18@88A1B%=C9D18'12E1F"GB+*& & & & & & & ?88#?18"9@8=B%=?88#?18F8(D@"G& & & & & 49($:'56-;33,<7'& 6&>8=01*2'=?88#?18@88A1B%=C9D18'12E1F"GB+*& & & & & & & ?88#?18"9@8=B%=?88#?18F8(D@"G& & & & & #(=,& 6&5H&>I& & & & & *7> (4?& 6&J,->KL*& & & & & @,AB,C?1(6+(.DE+F(& 6&>89JJ1M"?& 2'=(9N(?88#N1@F8O&&P@1 1(9N(?88#:701Q& & & & & && & #A1(9+71%)7(9@2"*;9*&>8=M+N@A8)R"M#89?1& & & & & & >89JJ1:+&& 2'=(9N(?88#N1@F8O&&P@1 1(9N(?88#M28S-"<?%Q& & & & && & #A1(9+71%)7(9@2"*;9*&&>8=M+N@A8)R"M#89?1&& & & & & >89JJ1F8,&&&& 2'=(9N(?88#N1@F8O&&P@1 1(9N(?88#M28S-"<?%Q& & & & && & #A1(9+71%)7M2:"&&>8=M+NJ,->KL*& & & & +(.#<.):%7+*G4.+..)+(.& 6&3T&CUND9?17*&3445& VWX&YZ[\]^_[&`ab^c[d&.e3f/g&h&Y^dij&kblml&n_a&& & & && & Xba^\o_al&pablb[d&na_q&r_a^bd[&Ws^aiob_[l& & & & 3f&@9<A12#&344/& Xba^\o_a&p\\a^tboiob_[&ua_daiq&PXpuQ& & & && & @#12#@E<M@89#@v1G)*?88#?18G89w)+x+7&PVWXQ& 39('B'-H12"/-I'+..)+(.& 6&5&>I&P344/&y&>zDDKG)*Q& & & & & -.&*<+(.AJ+(.19(6('& 6&344.&y&>zDDKG)*& >8=01*?88#?18@88A1B%=C9D18'12E1F"GB+*& & & & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & & & 344/&y&>zDDKG)*& ?88#?18"9@8=B%=?88#?18F8(D@"G& & & & & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & & & 34g5&y&>zDDKG)*& ?88#?18~$!D)}?18& & & & & && & idi_mi& &pll_\bio^l&V[\ & & & 49($:'56K'<.?F713L1&/<2='#!"'& 6&x#E#,& & & & & 49($:'56K'+?3+(.#!"'& 6&/&BAE<&& & & & M12"N)5K 5<.?F713L1&/<2='O +(.L9(.649($:'56K'+?3+(.12"$P56P7'& 6&x#E#,& & & & & QRQ/+2"=B/'!"#6+7<S,.+?3P#6<.?F71TQ +(.U!#:,V'K'<.?F71T& 6&/ff fff&&AK!*&&29}M> *&&f f3 && "<D|1*(*AK!*+) <A#} PV#W?W(11(6+X:)(=12"/-I'@L2#(>(& 6&x#E#,& & & & & K'D(%12"N)5K 5@L2%:,Y1F @,A*)<74?4V#6:V()4()W.&.( <7>>74?& 6&x#E#,& & & & & <.?F71):( '39(+7LQWZDZQ[\]\ +(./PV(.5B)-.& ,)K'.#<-HQQ[\\^ & ?18>8={K#2'=?88#?18&&&&&&&&&&&& 6& &&28) <&&D1??18>8={K#+) <A#}& &&28) <&P/ff Q& & & & & 2'=?88#?18F8(D@"G& 6& &&28) <&&D1??18>8={K#+) <A#}& &&28) <&P/ff Q& & & & & 2'=?88#?18@88A1B%=C9D18'12E1F"GB+*& 6&g&&28) <&&D1??18>8={K#+) <A#}&g&&28) <&P/ff Q& & & & & 2'=?88#?18G89A182(1#M@,-7<& 6&x#E#,& & & & & & >8={K#@1#)J~$!vS"AK!*& 6&/&&28) <&&D1??18>8={K#+) <A#}&/&&28) <&P/ff Q& & & &
&
& & & & &
&
& & &
:%7+/+A_J$%&B?S2+(.*..:( & G89w)+ & x}!C9D18'1F1#2(1#MA * "<2'=?88#?18@88A1B%=C9D18'12E1F"GB+*B%!(& MA *(E1*1789(:;& *1<1:"2=& #,2K'@#G)F928Gv!(* F1#*971#?88#?18"9@8=& !"G)<2)GG89w)+& C8=81{G)JJ)F9A%)?+8)C7OB%=F%1}A%)?+8)C7O& C N & 34.4& B%=C8=81{G)JJ)F9G89w)+#A1{*D|1?)}& C N & 34.4& B%=#,2(1#8$!& 2(1#@1#18v& >8=@G?18'O *0K8?9D+,-M?,-7( !"<?)G?18}|1M*9*<1* "<G89w)+ & B%=@1#18v{E(7C) *1G89w)+ & x}!& D <MA#1=@# *?18 }|18<F|1BA*E<M> *>8=01*2'=?88#?18@88A1B%=C9D18'12E1F"GB+*&B%=?88#?18"9@8=B%=?88#?18F8(D@"G "<G89w)+ &
JOY OF ENGINEERING AND ACHIEVEMENT
"#$%#&'"()*#'+ ,- !
039
!"#$%&'&() "#$ ' (*+ *+,-&./ ./&0)0*(12# *(12#&3445 3445
!)/!%-##2$-!(2A 6B % $2"C # #*)5#,6! D3E!8 E!;=:4#$8!#*!%B &/(F: !"4#$8!#)! ;A:%G5 ( ( ( ++7,-##.-!#4##HA;I$4!1( D1J! B-!#4#$HA; D1
!"#$%&'()*+,%& 49($:'56-;33,<7'& & & #(=,& *7> (4?& @,AB,C?1(6+(.DE+F(& & & & & +(.#<.):%7+*G4.+..)+(.& & & & & & & & & & & 39('B'-H12"/-I'+..)+(.& -.&*<+(.AJ+(.19(6('& & & & & & & & & & & & & & & & & & & &
040
#!")! 5#,3<!5= (>??@
(
6&*1<@1(?88F9?1&&F)*0K(*9F7O& & & & & 6&8"<>8=01*MD!1A*!1+,-G89A18"1(K:@& L17G89A18<1*+)-(x>& & & & & ?88#?18G88w)+ 9G1%& & & & & & M% 1*K?18G89w)+& & & & & 6& f&>I& & & & & 6&x+7& & & & & 6&>89JJ1F8,&& 2'=G89A180K8?9D& & && & #A1(9+71%)7M{,7< A#E& & & u_lodaitZio^& 2'=G89A180K8?9D& & && & ^[o^a&n_a& iam^ob[d&i[t& i[id^q^[o& oZtb^l &&& && & ?8K<%"*}"*&>8=M+N")<?Uw& & 6&./&FK%12#&3445& _qs^[liob_[& Za ^ & ^qb[ia& & /.&0)*(12#&3444& _qs^[liob_[& Za ^ & ^qb[ia& & /&?K# 1C)*0O&344g& _qs^[liob_[& Za ^ & ^qb[ia& & / &0)*(12#&344/& Zaa^[o&VllZ^& ^qb[ia& & gy4&?)*717*&344/& ^\ob ^& b[Zo^& imb[d&P Q& & 5yT&@9<A12#&344/& _qsi[ & ^\a^oia &ua_daiq&P uQ& & 33&?K# 1C)*0O&344/& Xba^\o_a&p\\a^tboiob_[&ua_daiq&PXpuQ&& & 3g&?8? 12#&344f& rb[i[\^&n_a& _[&y&rb[i[\^&Xba^\o_a&Pr XQ&& & /f&?8? 12#&344f& [t^aloi[tb[d&o]^&rZ[tiq^[oij&_n&rb[i[\bij& && & oio^q^[o&P r Q&& && & @#12#@E<M@89#@v1G)*?88#?18G89w)+x+7&PVWXQ& 6&x#E#,&& & & & & 6&>zDDKG)*& 8"<>8=01*MD!1A*!1+,-G89A18"1(K:@&&& & && & L17G89A18<1*+)-(x>& & && & ?88#?18G88w)+ 9G1%&& && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q && & ?88#?18G89w)+& & && & _ _& ]ib& ^ & [^ad &uo^ &Yot & & & 344 &y&>zDDKG)*& ?88#?18G89w)+&& & && & _ _& ]ib&u_ ^a& _jtb[dl&uo^ &Yot & & & 344g&y&>zDDKG)*& ?88#?18G89w)+B%=~$!D)}?18+)-(x>&&& & && & L17G89A18<1*@E(*?%1<& & && & _ _& ]ib& iji lbi& t[ &`]t & & 344g&y&344 & 8"<>8=01*MD!1A*!1+,-G89A18"1(K:@&&& & && & L17G89A18<1*+)-(x>&B%= L17?18M<9*& & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q 344/&y&>zDDKG)*& M% 1*K?18G89w)+& & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q 344f&y&>zDDKG)*& ?88#?18G89w)+& & && & G89w)+&:?%G"%&G9@;9M*@&B#M*DM#*+O&D|1?)} 34gH&y&>zDDKG)*& ?88#?18G89w)+& & && & _ _y b^o[iq& _as_aiob_[&Yot & &
JOY OF ENGINEERING AND ACHIEVEMENT
&
49($:'56K'<.?F713L1&/<2='#!"'& 6&x#E#,& & & & & 49($:'56K'+?3+(.#!"'& 6&4&&BAE<& & & & M12"N)5K 5<.?F713L1&/<2='OQ QQ Q Q Q Q +(.L9(.649($:'56K'+?3+(.12"$P56P7'& 6&x#E#,& & & & & QRQ/+2"=B/'!"#6+7<S,.+?3P#6<.?F71TQQQ QQ Q Q Q Q +(.U!#:,V'K'<.?F71T& 6&4 5fT fg/&&AK!*&&29}M> *&/ f3 && "<D|1*(*AK!*+) <A#} !"W?W(11(6+X:)(=12"/-I'@L2#(>(& 6&x#E#,& & & & & K'D(%12"N)5K 5@L2%:,Y1FQ QQ Q Q Q Q @,A*)<74?4V#6:V()4()W.&.( <7>>74?& 6&x#E#,& & & & & <.?F71):( '39(+7LQWZDZQ[\]\ +(./PV(.5B)-.& ,)K'.#<-HQQ[\\^ & ?18>8={K#2'=?88#?18&&&&&&&&&&&& 6& &&28) <&&D1??18>8={K#+) <A#}& &&28) <&P/ff Q& & 2'=?88#?18F8(D@"G& 6&x#E#,& & & & & & 2'=?88#?18@88A1B%=C9D18'12E1F"GB+*& 6&g&&28) <&&D1??18>8={K#+) <A#}&g&&28) <&P/ff Q& & 2'=?88#?18G89A182(1#M@,-7<& 6&x#E#,& & & & & & >8={K#@1#)J~$!vS"AK!*& 6&/&&28) <&&D1??18>8={K#+) <A#}&/&&28) <&P/ff Q&
Q Q Q
&
&
&
&
&
&
&
&
&
&
:%7+/+A_J$%&B?S2+(.*..:( & G89w)+ & x}!C9D18'1F1#2(1#MA * "<2'=?88#?18@88A1B%=C9D18'12E1F"GB+*B%!(& MA *(E1& *1<@1(?88F9?1& F)*0K(*9F7O& & #,2K'@#G)F9 28Gv!(*F1# !"G)<2)GG89w)+& C8=81{G)JJ)F9A%)?+8)C7OB%=F%1}A%)?+8)C7O& C N & 34.4& B%=C8=81{G)JJ)F9G89w)+#A1{*D|1?)}& C N & 34.4& B%= #,2(1#8$!&2(1#@1#18v&>8=@G?18'O *0K8?9D+,-M?,-7( !"<?)G?18}|1M*9*<1* "<G89w)+ &B%=@1#18v{E(7C) *1G89w+) &x}!&&D <MA#1=@# *?18}|18<F|1BA*E< M> *8"<>8=01*MD!1A*!1+,-G89A18"1(K:@& L17G89A18<1*+)-(x>&&?88#?18G88w)+ 9G1%B%=M% 1*K?18G89w)+ "<G89w)+ &
JOY OF ENGINEERING AND ACHIEVEMENT
#!")! 5#,3<!5= (>??@
041
!"#$%&'&()*+,-&./&0)*(12#&3445
!"D/ :8C(IK#$/A2"C #*)5#,6! D3E!8 E!;=:4#$8!#*!%B &/ F: !"%$L%-##.(FM -*4#.(01,8 :%")! DN9!,-$3( ( -##.-!#4#$8!#+%!.D/=:")
(
!"#$%&'()*+,%& 6&*17M@*EAO&& $89@)F7O& & & & & 49($:'56-;33,<7'& 6&8"<>8=01*MD!1A*!1+,-G89A18"1(K:@&& & & & & & L17(9N(?88#& ?"G8#&B%=A*E(7<1*M C1=?9D& & & & & & ?88#?18G89A182(1#M@,-7<& & & & & #(=,& 6& /&>I& & & & & *7> (4?& 6&x+7& & & & & @,AB,C?1(6+(.DE+F(& 6&>89JJ1F8,&& 2'=(9N(?88#N1@F8O&&&P@1 1(9N(?88#x 1Q&& & && & #A1(9+71%)7M+2:*:%7,C8=D"#M?%!1C8=*28MA*S"& & +(.#<.):%7+*G4.+..)+(.& 6&x#E#,& & & & & 39('B'-H12"/-I'+..)+(.& 6&x#E#,&& & & & & -.&*<+(.AJ+(.19(6('& 6&>zDDKG)*& 8"<>8=01*MD!1A*!1+,-G89A18"1(K:@&& & && & L17(9N(?88#& ?"G8#&B%=A*E(7<1*M C1=?9D& & & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & & 344 & & 8"<>8=01*MD!1A*!1+,-G89A18"1(K:@&& & & && & L17(9N(?88#&0K8?9DC%)<<1*&A*E(7<1* ?"G8#&& & & && & B%=A*E(7<1*M C1=?9D& & & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & & 3444& & 8"<>8=01*MD!1A*!1+,-G89A18@|1*)?~$!{|1*1J?18}!1*M+2*92 & && & L17(9N(?88#&B%= L17>8=#$%<1*&& & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & & 344g& & 8"<>8=01* L17(9N(?88#& & & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & & 344.&y&>zDDKG)*& ?88#?18G89A182(1#M@,-7<& & & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q F|1BA*E< *G89w)+D}+=MG,7*"S-*& 6&x#E#,& & & & & F|1BA*E< *?9D?18"S-*& 6&x#E#,& & & & & P+,-x#E {EG89w)+D}+=MG,7*Q& && & & & & & ?18}|18<F|1BA*E< *?9D?18+,-B E< )*& 6&x#E#,& & & & & &e&M?,-7(M*S-"<?)G0K8?9D "<G89w)+ &&& && & & & & & ?18vS"AK!* *G89w)+ & 6&/ Hff 54f&&AK!*&&29}M> *&f .g && "<D|1*(*AK!*+) <A#} !"C9C1++1<? A#17+,-M> *2},"1J1& 6&x#E#,& & & & & *N1%+,-x#E {E2},%AK:+w& && & & & & & 2K'@#G)F9F!"<A!1#F1#C8=81{G)JJ)F9& 6&x#E#,& & & & & G89w)+#A1{*D|1?)}&C N &34.4 ?18M !18E(#>8={K# *8"G>I&&3445& && & & & & & & ?18>8={K#2'=?88#?18&&&&&&&&&&&& 6&x#E#,& & & & & & 2'=?88#?18F8(D@"G& 6&x#E#,& & & & & & 2'=?88#?18@88A1B%=C9D18'12E1F"GB+*& 6&x#E#,& & & & & & 2'=?88#?18G89A182(1#M@,-7<& 6&g&&28) <&&D1??18>8={K#+) <A#}&g&&28) <&P/ff Q& & & & & >8={K#@1#)J~$!vS"AK!*& 6&/&&28) <&&D1??18>8={K#+) <A#}&/&&28) <&P/ff Q
(
&
&
:%7+/+A_J$%&B?S2+(.*..:( & G89 w) + & x}! C9 D 18'1F1#2(1#MA * "<2'=?88#?18@88A1B%=C9 D 18'12E 1 F"GB+*B%! ( & MA * (E 1 & *17M@*E AO & $ 89 @) F 7O & #, 2K ' @#G) F9 28Gv!(*F1# !"G)<2)GG89w)+& C8=81{G)JJ)F9A%)?+8)C7OB%=F%1}A%)?+8)C7O& C N & 34.4& B%=C8=81{G)JJ)F9G89w)+#A1{*D|1?)}& C N & 34.4& B%= #,2(1#8$!&2(1#@1#18v&>8=@G?18'O *0K8?9D+,-M?,-7( !"<?)G?18}|1M*9*<1* "<G89w)+ &B%=@1#18v{E(7C) *1G89w)+ &x}!&&D <MA#1=@# *?18}|18<F|1BA*E< M> *8"<>8=01*MD!1A*!1+,-G89A18"1(K:@& L17(9N(?88#& ?"G8#&B%=A*E(7<1*M C1=?9D&B%=?88#?18G89A182(1#M@,-7< "<G89w)+ &
042
#!")! 5#,3<!5= (>??@
JOY OF ENGINEERING AND ACHIEVEMENT
!"#$%&'&()*+,-&./&0)*(12#&3445
!)/B#A2 !(2O7#2 , 5#,6! D3E!8 E!;=:F:!"5P$4A2$-!# #*)5#,6! D3E!8 E!;=:4#$8!#( ( -##.-!#4#$8!#+%!.D/=:")
!"#$%&'()*+,%& 49($:'56-;33,<7'& & & & & #(=,& *7> (4?& @,AB,C?1(6+(.DE+F(& & & +(.#<.):%7+*G4.+..)+(.& 39('B'-H12"/-I'+..)+(.& -.&*<+(.AJ+(.19(6('& & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & 49($:'56K'<.?F713L1&/<2='#!"'& 49($:'56K'+?3+(.#!"'& M12"N)5K 5<.?F713L1&/<2='OQ +(.L9(.649($:'56K'+?3+(.12"$P56P7'& QRQ/+2"=B/'!"#6+7<S,.+?3P#6<.?F71TQQQ +(.U!#:,V'K'<.?F71T&
(
(
(
6&*1<@K8)F*1&FU'8F*=& & & & & 6&>8=01*MD!1A*!1+,- L17> 9G)F9?18& & & & & & 8"<>8=01*MD!1A*!1+,-G89A18& & & & & & ?88#?18G89A182(1#M@,-7<& & & & & 6&4f&>I& & & & & 6&x+7& & & & & 6&>89JJ1F8,&& 2'=(9N(?88#N1@F8O&&&P@1 1(9N(?88#M28S-"<?%Q& & && & #A1(9+71%)7@< %1*289*+8O& & 6&x#E#,& & & & & 6&x#E#,&& & & & & 6&>zDDKG)*& >8=01*MD!1A*!1+,- L17> 9G)F9?18& & && & 8"<>8=01*MD!1A*!1+,-G89A18& & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q && & ?88#?18G89w)+& & && & _ _& ]ib& ^ & [^ad &uo^ &Yot & & & 344 &y&>zDDKG)*& ?88#?18G89w)+& & && & _ _& ]ib& _ij&u_ ^a&uo^ &Yot & & && & ?88#?18G89w)+& & && & _ _& ]ib& _jia&u_ ^a&uo^ &Yot & & && & ?88#?18G89w)+& & && & _ _& ]ib&u_ ^a& _jtb[dl&uo^ &Yot & & & 344 & & 8"<>8=01*MD!1A*!1+,-G89A18B%=>8=01*MD!1A*!1+,- L17> 9G)F9?18& && & >8=01*0K8?9DC%)<<1*&& && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & 3444&y&>zDDKG)*& ?88#?18G89w)+& & && & _ _& ]ib&u_ ^a& _as_aiob_[&uo^ &Yot & & && & ?88#?18G89w)+B%=?88#?18~$!D)}?18& & && & _ _& ]ib&u_ ^a& i[qia& _ &Yot & & && & ?88#?18G89w)+B%=?88#?18~$!D)}?18& & && & _ _& ]iby i[qia& _as_aiob_[& _ &Yot & & & 3444& & 8"<>8=01*MD!1A*!1+,-G89A18@|1*)?~$!{|1*1J?18}!1*G89A18D)}?18 && & L17 17B%= L17D)};S "D)}A1& & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & 344g&y&>zDDKG)*& ?88#?18G89w)+& & && & _ _& ]iby p& _as_aiob_[& & && & ?88#?18G89w)+B%=~$!D)}?18+)-(x>& L17 17B%= L17D)};S "D)}A1& && & _ _& ]ib& iji lbi& t[ &`]t & & && & ?88#?18G89w)+& & && & G89w)+&:?%G"%&*9(&M" *M*"8O7,&D|1?)} & 344.&y&>zDDKG)*& ?88#?18G89A182(1#M@,-7<& & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q 6&x#E#,& & & & & 6&/f&BAE<& & & & & QQ Q Q Q Q Q 6&x#E#,& & & & & QQ Q Q Q Q Q 6&4 5.4 HgT&&AK!*&&29}M> *&/ f3 && "<D|1*(*AK!*+) <A#}
JOY OF ENGINEERING AND ACHIEVEMENT
#!")! 5#,3<!5= (>??@
&
&
043
PV#W?W(11(6+X:)(=12"/-I'@L2#(>(& 6&x#E#,& & & & & K'D(%12"N)5K 5@L2%:,Y1FQ QQ Q Q Q Q @,A*)<74?4V#6:V()4()W.&.( <7>>74?& 6&x#E#,& & & & & <.?F71):( '39(+7LQWZDZQ[\]\ +(./PV(.5B)-.& ,)K'.#<-HQQ[\\^ & ?18>8={K#2'=?88#?18&&&&&&&&&&&& 6&x#E#,& & & & & & 2'=?88#?18F8(D@"G& 6&x#E#,& & & & & & 2'=?88#?18@88A1B%=C9D18'12E1F"GB+*& 6&x#E#,& & & & & & 2'=?88#?18G89A182(1#M@,-7<& 6&g&&28) <&&D1??18>8={K#+) <A#}&g&&28) <&P/ff Q& & >8={K#@1#)J~$!vS"AK!*& 6&/&&28) <&&D1??18>8={K#+) <A#}&/&&28) <&P/ff Q
Q
&
&
&
&
:%7+/+A_J$%&B?S2+(.*..:( & G89w)+ & x}!C9D18'1F1#2(1#MA * "<2'=?88#?18@88A1B%=C9D18'12E1F"GB+*B%!(&MA *(E1& *1<@K8)F*1& FU'8F*=& #,2K'@#G)F928Gv!(* F1# !"G)<2)GG89w)+& C8=81{G)JJ)F9A%)?+8)C7OB%=F%1}A%)?+8)C7O& C N & 34.4& B%=C8=81{G)JJ)F9G89w)+#A1{*D|1?)}& C N & 34.4& B%=#,2(1#8$!& 2(1#@1#18v& >8=@G?18'O *0K8?9D+,-M?,-7( !"<?)G?18}|1M*9*<1* "<G89w)+ & B%=@1#18v{E(7C) *1G89w)+ & x}!& D <MA#1=@# *?18}|18<F|1BA*E<M> * >8=01*MD!1A*!1+,- L17> 9G)F9?18&&8"<>8=01*MD!1A*!1+,-G89A18&B%=?88#?18G89A182(1#M@,-7< "<G89w)+ && & & & &
044
#!")! 5#,3<!5= (>??@
JOY OF ENGINEERING AND ACHIEVEMENT
!"#$%&'&()*+,-&./&0)*(12#&3445
!"%A QA "(#2$ 6# #*)5#,6! D3E!8 E!;=:4#$8!# F: !"R<!D $ -!#&+#)-!#( ( -##.-!#4#$8!#+%!.D/=:")
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{K#2'=?88#?18&&&&&&&&&&&& & 2'=?88#?18F8(D@"G&
(
(
(
6&*17()*{)7&8F9*08& & & & & 6&8"<>8=01*MD!1A*!1+,-G89A18&& & & & & & L17}|1M*9*?18:28<?18 & ?88#?18G89A182(1#M@,-7<& & & & & 6&gH&>I& & & & & 6&x+7& & & & & 6&>89JJ1F8,&& 2'=(9N(?88#N1@F8O&&P@1 1(9N(?88#M28S-"<?%Q& & && & #A1(9+71%)7M+2:*:%7,C8=D"#M?%!10*GK8,& & 6&x#E#,& & & & & 6&x#E#,&& & & & & 6&>zDDKG)*& 8"<>8=01*MD!1A*!1+,-G89A18&&& & && & L17}|1M*9*?18:28<?18 && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & 344 & & 8"<>8=01*MD!1A*!1+,-G89A18&&& & && & L17?E"@8!1<B%=?18+}@"G8=GG "<M28S-"<D)?8& & && & >8=01*0K8?9D> :F8M2#,B%=:8<?%)-*& & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & 344g&y&>zDDKG)*& ?88#?18G89w)+B%=~$!D)}?18+)-(x>&&& & && & L17:28<?18&B%= L17>8=#$%<1*& & && & _ _& ]ib& iji lbi& t[ &`[t & & & 3444& & 8"<>8=01*MD!1A*!1+,-G89A18@|1*)?~$!{|1*1J?18}!1*> 9G)F9?18& && & L17?E"@8!1<B%=?18+}@"G8=GG?18+|1<1* "<M28S-"<D)?8 && & L17:28<?18?E"@8!1<& & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & 344g&y&>zDDKG)*& ?88#?18G89w)+& & && & _ _& ]ib&u_ ^a& _as_aiob_[&uo^ &Yot & & & 344g& & 8"<>8=01*MD!1A*!1+,-G89A18& L17:28<?18B%= L17>8=#$%<1*& && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & 344.&y&>zDDKG)*& ?88#?18G89A182(1#M@,-7<& & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q 6&x#E#,& & & & & 6&x#E#,& & & & & QQ Q Q Q Q Q 6&x#E#,& & & & & QQ Q Q Q Q Q 6&/ Tff fff&&AK!*&&29}M> *&f .3 && "<D|1*(*AK!*+) <A#} 6&x#E#,& & & & & QQ Q Q Q Q Q 6&x#E#,& & & & & 6&x#E#,& & 6&x#E#,& &
JOY OF ENGINEERING AND ACHIEVEMENT
& &
& &
&
& &
#!")! 5#,3<!5= (>??@
045
@A&+..)+(.*..:($%&W?3(.A(@5(4#<$1'&6&x#E#,& & & & & @A&+..)+(.<.?:(.@B()/*2"=6& 6&g&&28) <&&D1??18>8={K#+) <A#}&g&&28) <&P/ff Q& -.& ,)*()7>`GVU!#:,V'& 6&/&&28) <&&D1??18>8={K#+) <A#}&/&&28) <&P/ff Q&
& &
& &
& &
&
:%7+/+A_J$%&B?S2+(.*..:( & G89 w) + & x}! C9 D 18'1F1#2(1#MA * "<2'=?88#?18@88A1B%=C9 D 18'12E 1 F"GB+*B%! ( & MA * (E 1 & *17() * {) 7 & 8F9 * 08& #, 2K ' @#G) F9 28Gv!(*F1# !"G)<2)GG89w)+& C8=81{G)JJ)F9A%)?+8)C7OB%=F%1}A%)?+8)C7O& C N & 34.4& B%=C8=81{G)JJ)F9G89w)+#A1{*D|1?)}& C N & 34.4& B%= #,2(1#8$!&2(1#@1#18v&>8=@G?18'O *0K8?9D+,-M?,-7( !"<?)G?18}|1M*9*<1* "<G89w)+ &B%=@1#18v{E(7C) *1G89w+) &x}!&&D <MA#1=@# *?18}|18<F|1BA*E< M> *8"<>8=01*MD!1A*!1+,-G89A18& L17}|1M*9*?18:28<?18&B%=?88#?18G89A182(1#M@,-7< "<G89w)+ &
046
#!")! 5#,3<!5= (>??@
JOY OF ENGINEERING AND ACHIEVEMENT
!"#$%&'&()*+,-&./&0)*(12#&3445
!"S$DR&2,(&+"!.:! #*)5#,6! D3E!8 E!;=:4#$8!# F: !"J!"(01,9AT !6B #-$3
!"#$%&'()*+,%& 6&*17¡9M}:F=&&:271#E1& & & & & 49($:'56-;33,<7'& 6&8"<>8=01*MD!1A*!1+,-G89A18&& & & & & & & & L17 17&B%=C) *10K8?9D& & & & & #(=,& 6&gH&>I& & & & & *7> (4?& 6&J,->KL*& & & & & @,AB,C?1(6+(.DE+F(& 6&>89JJ1:+&&&& 2'=(9N(?88#N1@F8#A1G)'¢9F&P@1 1(9N(?88#@v1>zF7?88#Q& & & && & #A1(9+71%)7& _m _& [b ^albo &_n& \b^[\^&& & & & & >89JJ1F8,&&& 2'=(9N(?88#N1@F8O& & & & & && & #A1(9+71%)7& _m _& [b ^albo &_n& \b^[\^&& & +(.#<.):%7+*G4.+..)+(.& 6&x#E#,& & & & & 39('B'-H12"/-I'+..)+(.& 6&x#E#,&& & & & & -.&*<+(.AJ+(.19(6('& 6&>zDDKG)*& 8"<>8=01*MD!1A*!1+,-G89A18&& & & & && & L17 17&B%=C) *10K8?9D& & & & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & & & 344 &y>zDDKG)*& ?88#?18G89w)+& & & & && & _ _& ]ib& _ij&u_ ^a&uo^ &Yot & & & & && & ?88#?18G89w)+& & & & && & biq&£ & _jia& [^ad & _ &Yot & & & & && & ?88#?18G89w)+& & & & && & £j_¤ij& ^ & [^ad &¥isi[& _ &Yot & & & & & 344.&y&>zDDKG)*& ?88#?18G89w)+& & & & && & £j_¤ij& ^ & [^ad & _ &Yot && 49($:'56K'<.?F713L1&/<2='#!"'& 6&x#E#,& & & & & 49($:'56K'+?3+(.#!"'& 6&g&BAE<&& & & & M12"N)5K 5<.?F713L1&/<2='OQ QQ Q Q Q Q Q +(.L9(.649($:'56K'+?3+(.12"$P56P7'& 6&x#E#,& & & & & QRQ/+2"=B/'!"#6+7<S,.+?3P#6<.?F71TQQQ QQ Q Q Q Q Q +(.U!#:,V'K'<.?F71T& 6&T.5 . f&AK!*&&29}M> *&f /4 && "<D|1*(*AK!*+) <A#} PV#W?W(11(6+X:)(=12"/-I'@L2#(>(& 6&x#E#,& & & & & K'D(%12"N)5K 5@L2%:,Y1FQ QQ Q Q Q Q Q @,A*)<74?4V#6:V()4()W.&.( <7>>749& 6&x#E#,& & & & & <.?F71):( '39(+7LQWZDZQ[\]\ +(./PV(.5B)-.& ,)K'.#<-HQQ[\\^ & ?18>8={K#2'=?88#?18&&&&&&&&&&&& 6&x#E#,& & & & & & 2'=?88#?18F8(D@"G& 6&x#E#,& & & & & & 2'=?88#?18@88A1B%=C9D18'12E1F"GB+*& 6&x#E#,& & & & & & 2'=?88#?18G89A182(1#M@,-7<& 6&x#E#,& & & & & & >8={K#@1#)J~$!vS"AK!*& 6&/&&28) <&&D1??18>8={K#+) <A#}&/&&28) <&P/ff Q
&
:%7+/+A_J$%&B?S2+(.*..:( & G89w)+ & x}!C9D18'1F1#2(1#MA * "<2'=?88#?18@88A1B%=C9D18'12E1F"GB+*B%!(& MA *(E1& *17¡9M}:F=& & :271#E1& #,2K'@#G)F928Gv!(* F1# !"G)<2)GG89w)+& C8=81{G)JJ)F9A%)?+8)C7OB%=F%1}A%)?+8)C7O& C N & 34.4& B%=C8=81{G)JJ)F9G89w)+#A1{*D|1?)}& C N 34.4& B%=#,2(1#8$!& 2(1#@1#18v& >8=@G?18'O *0K8?9D+,-M?,-7( !"<?)G?18}|1M*9*<1* "<G89w)+ & &B%=@1#18v{E(7C) *1& G89w)+ & x}!& D <MA#1=@# *?18}|18<F|1BA*E<M> * 8"<>8=01*MD!1A*!1+,-G89A18& L17 17&B%=C) *10K8?9D "<G89w)+ &&
JOY OF ENGINEERING AND ACHIEVEMENT
#!")! 5#,3<!5= (>??@
047
!"#$%&'&()*+,-&./&0)*(12#&3445
!"-*4QA "(6 /B-!U3 C #*)5#,6! D3E!8 E!;=:4#$8!# F: !"-!#D)$ 01,4AUQ= (01, A-1);B /A.9A 6C(( -##.-!#4#$8!#+%!.D/=:")
!"#$%&'()*+,%& 49($:'56-;33,<7'& & & #(=,& *7> (4?& @,AB,C?1(6+(.DE+F(& & & & & & & & +(.#<.):%7+*G4.+..)+(. & & & 39('B'-H12"/-I'+..)+(.& -.&*<+(.AJ+(.19(6('& & & & & & & & & & & & & & & 49($:'56K'<.?F713L1&/<2='#!"'& 49($:'56K'+?3+(.#!"'& M12"N)5K 5<.?F713L1&/<2='OQ +(.L9(.649($:'56K'+?3+(.12"$P56P7'& QRQ/+2"=B/'!"#6+7<S,.+?3P#6<.?F71TQQQ +(.U!#:,V'K'<.?F71T& PV#W?W(11(6+X:)(=12"/-I'@L2#(>(& K'D(%12"N)5K 5@L2%:,Y1FQ @,A*)<74?4V#6:V()4()W.&.( <7>>74?& <.?F71):( 'Q39(+7LQWZDZQ[\]\
048
#!")! 5#,3<!5= (>??@
(
(
6&*17?"G{)7&&0*@K?1JD*O& & & & & 6&8"<>8=01*MD!1A*!1+,-G89A18& & & & & & L17?18M<9*B%=G)J{,&B%=*)?%<+K*@)#C)*0O& & & & & & ?88#?18G89A182(1#M@,-7<& & & & & 6&4f&>I& & & & & 6&x+7& & & & & 6&>89JJ1:+&& 2'=G89A180K8?9D&P?18M<9*Q& & & && & rj_abti&uZ¤jb\& &`Zlb[^ll&ptqb[bloaiob_[&p\it^q & && & >8=M+N@A8)R"M#89?1& & & & >89JJ1F8,&& 2'=G89A180K8?9D&P?18M<9*Q& & & && & rj_abti&uZ¤jb\& &`Zlb[^ll&ptqb[bloaiob_[&p\it^q & && & >8=M+N@A8)R"M#89?1& & & && & 2'=N9%>N1@F8O& & & && & #A1(9+71%)7*M8N(8& & & : 35y3T&CUND9?17*&3445&p[ob& _aaZsob_[&6& ]^&uai\ob\ij&£Zbt^Pp u£Q& & g&CUND9?17*&3445& _qsi[ &k^s_aob[d&ua_daiqP kuQ & 3g&?8? 12#&3445& `_iat&k^s_aob[d&ua_daiqP`kuQ && & @#12#@E<M@89#@v1G)*?88#?18G89w)+x+7&PVWXQ 6&x#E#,&& & & & & 6&>zDDKG)*& 8"<>8=01*MD!1A*!1+,-G89A18& & && & L17?18M<9*B%=G)J{,&B%=*)?%<+K*@)#C)*0O& & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q && & ?88#?18G89w)+& & && & _ _& ]ib& ^ & [^ad &uo^ &Yot & & & 344 &y&>zDDKG)*& ?88#?18G89w)+& & && & _ _& ]ib& _ij&u_ ^a&uo^ &Yot & & && & ?88#?18G89w)+& & && & _ _& ]ib& _jia&u_ ^a&uo^ &Yot & & & 3444&y&>zDDKG)*& ?88#?18G89w)+& & && & _ _& ]ib&u_ ^a& _as_aiob_[&uo^&Yot && & & 344g&y&>zDDKG)*& ?88#?18G89A182(1#M@,-7<& & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & 344g&y&344 & ~$!D)}?18+)-(x>& L17?18M<9*B%= L17*)?%<+K*@)#C)*0O& & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q 6&x#E#,& & & & & 6&g&BAE<&& & & & QQ Q Q Q Q Q 6&x#E#,& & & & & QQ Q Q Q Q Q 6&x#E#,& & & & & 6&x#E#,& & & & & QQ Q Q Q Q Q Q Q 6&x#E#,& & & & &
JOY OF ENGINEERING AND ACHIEVEMENT
(
& &
Q
+(./PV(.5B)-.& ,)K'.#<-HQQ[\\^ & ?18>8={K#2'=?88#?18&&&&&&&&&&&& 6&x#E#,& & & & & & 2'=?88#?18F8(D@"G& 6&x#E#,& & & & & & 2'=?88#?18@88A1B%=C9D18'12E1F"GB+*& 6&x#E#,& & & & & & 2'=?88#?18G89A182(1#M@,-7<& 6&g&&28) <&&D1??18>8={K#+) <A#}&g&&28) <&P/ff Q& & >8={K#@1#)J~$!vS"AK!*& 6&/&&28) <&&D1??18>8={K#+) <A#}&/&&28) <&P/ff Q
&
&
&
&
:%7+/+A_J$%&B?S2+(.*..:( & G89w)+ & x}!C9D18'1F1#2(1#MA * "<2'=?88#?18@88A1B%=C9D18'12E1F"GB+*B%!(& MA *(E1& *17?"G{)7& 0*@K?1JD*O& #,2K'@#G)F9 28Gv!(*F1# !"G)<2)GG89w)+&C8=81{G)JJ)F9A%)?+8)C7OB%=F%1}A%)?+8)C7O&C N &34.4&B%=C8=81{G)JJ)F9G89w)+#A1{*D|1?)}&C N 34.4&B%=#,2(1#8$!& 2(1#@1#18v& >8=@G?18'O *0K8?9D+,-M?,-7( !"<?)G?18}|1M*9*<1* "<G89w)+ & B%=@1#18v{E(7C) *1G89w)+ & x}!& D <MA#1=@# *?18}|18<F|1BA*E< M> *8"<>8=01*MD!1A*!1+,-G89A18& L17?18M<9*B%=G)J{,&B%=*)?%<+K*@)#C)*0O&B%=?88#?18G89A182(1#M@,-7< "<G89w)+ &
JOY OF ENGINEERING AND ACHIEVEMENT
#!")! 5#,3<!5= (>??@
049
!"#$%&'&()*+,-&./&0)*(12#&3445
!""K +$&*(&-D4 VK E*<! %"-!# F: !"%$L%-##.(01,F: !"R<!D $ -!#&+#)-!#(
!"#$%&'()*+,%& 6&*177$29:"&&:?MG& & & & & 49($:'56-;33,<7'& 6&~$!"|1*(7?18& & & L17(9N(?88#&B%= L17}|1M*9*?18:28<?18 #(=K& 6&44&>I& & & & & *7> (4?& 6&J,->KL*& & & & & @,AB,C?1(6+(.DE+F(& 6&>89JJ1F8,&& 2'=(9N(?88#N1@F8O&&P@1 1(9N(?88#M28S-"<?%Q& & && & #A1(9+71%)729(;$&>8=M+NJ,->KL*& & +(.#<.):%7+*G4.+..)+(.& 6&x#E#,& & & & & 39('B'-H12"/-I'+..)+(.& 6&x#E#,&& & & & & -.&*<+(.AJ+(.19(6('& 6&>zDDKG)*& ~$!"|1*(7?18& & && & L17(9N(?88#&B%= L17}|1M*9*?18:28<?18 & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & & 344 & & ~$!"|1*(7?18& & && & 0K8?9D> :F8M2#,B%=:8<?%)-*&0K8?9DC%)<<1*& & & && & A*E(7<1*?18 17B%=C) *10K8?9D&& & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & & 3444& & ~$!"|1*(7?18 & && & L17(9N(?88#&& L17>8=#$%<1*&B%= L17 17& & & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & & 344g& & ~$!"|1*(7?18 & && & L17(9N(?88#&&& & & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q 49($:'56K'<.?F713L1&/<2='#!"'& 6&x#E#,& & & & & 49($:'56K'+?3+(.#!"'& 6&x#E#,& & & & & M12"N)5K 5<.?F713L1&/<2='OQ QQ Q Q Q Q Q +(.L9(.649($:'56K'+?3+(.12"$P56P7'& 6&x#E#,& & & & & RQ/+2"=B/'!"#6+7<S,.+?3P#6<.?F71TQQQ QQ Q Q Q Q Q +(.U!#:,V'K'<.?F71T& 6&/ /.H .TH&&AK!*&&29}M> *&f 3f && "<D|1*(*AK!*+) <A#} PV#W?W(11(6+X:)(=12"/-I'@L2#(>(& 6&x#E#,& & & & & K'D(%12"N)5K 5@L2%:,Y1FQ QQ Q Q Q Q Q @,A*)<74?4V#6:V()4()W.&.( <7>>749& 6&x#E#,& & & & & <.?F71):( '39(+7LQWZDZQ[\]\ +(./PV(.5B)-.& ,)K'.#<-HQQ[\\^ & ?18>8={K#2'=?88#?18&&&&&&&&&&&& 6&x#E#,& & & & & & 2'=?88#?18F8(D@"G& 6&x#E#,& & & & & & 2'=?88#?18@88A1B%=C9D18'12E1F"GB+*& 6&x#E#,& & & & & & 2'=?88#?18G89A182(1#M@,-7<& 6&x#E#,& & & & & & >8={K#@1#)J~$!vS"AK!*& 6&/&&28) <&&D1??18>8={K#+) <A#}&/&&28) <&P/ff Q
&
:%7+/+A_J$%&B?S2+(.*..:( & G89w)+ & x}!C9D18'1F1#2(1#MA * "<2'=?88#?18@88A1B%=C9D18'12E1F"GB+*B%!( & MA *(E1& *177$29:"& :?MG& #,2K'@#G)F928Gv!(* F1# !"G)<2)GG89w)+& C8=81{G)JJ)F9A%)?+8)C7OB%=F%1}A%)?+8)C7O& C N & 34.4& B%=C8=81{G)JJ)F9G89w)+#A1{*D|1?)}& C N & 34.4& B%=#,2(1#8$!& 2(1#@1#18v& >8=@G?18'O *0K8?9D+,-M?,-7( !"<?)G?18}|1M*9*<1* "<G89w)+ & B%=@1#18v{E(7C) *1G89w)+ & x}!& D <MA#1=@# *?18}|18<F|1BA*E< M> *~$!"|1*(7?18& L17(9N(?88#&B%= L17}|1M*9*?18:28<?18 "<G89w)+ &&&
050
#!")! 5#,3<!5= (>??@
JOY OF ENGINEERING AND ACHIEVEMENT
!"#$%&'&()*+,-&./&0)*(12#&3445
!)/!%9#3A ;#C(D-H3B W!L#=&#3 C VK E*<! %"-!# F: !"%$L%-##.(F: !"R<!D $ -!#&+#)-!#(01,F: !"J!"01,9AT !6B #-$3
!"#$%&'()*+,%& 6&*1<@1(C8D)*+8O&&M?wDK¦1N8,:8D*O&& & & & 49($:'56-;33,<7'& 6&~$!"|1*(7?18& & & & L17(9N(?88#& L17}|1M*9*?18:28<?18&B%= L17 17B%=C) *10K8?9D #(=,& 6&4/&>I& & & & & *7> (4?& 6&x+7& & & & & @,AB,C?1(6+(.DE+F(& 6&>89JJ1F8,&& 2'=(9+71N1@F8O&&P@1 1(9N(?88#M2#,Q& & & & && & DK¦1%<?8'O#A1(9+71%)7& & +(.#<.):%7+*G4.+..)+(.& 6&x#E#,& & & & & 39('B'-H12"/-I'+..)+(.& 6&x#E#,&& & & & & -.&*<+(.AJ+(.19(6('& 6&>zDDKG)*& ~$!"|1*(7?18& & & && & L17(9N(?88#& L17}|1M*9*?18:28<?18&B%= L17 17B%=C) *10K8?9D & & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & & & 344 &y&>zDDKG)*& ?88#?18G89w)+& & & & && & biq&£ & _jia& [^ad & _ &Yot & & & & & 344 & & ~$!"|1*(7?18& & & && & 0K8?9D> :F8M2#,B%=:8<?%)-*&0K8?9DC%)<<1*& & & & && & A*E(7<1*?18 17B%=C) *10K8?9D&& & & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & & & 3444& & ~$!"|1*(7?18 & & && & L17(9N(?88#&& L17>8=#$%<1*&B%= L17 17& & & & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q & & & 344g& & ~$!"|1*(7?18 & & && & L17(9N(?88#&&& & & & && & G89w)+&:F:7yx+7&2"8O>"M8{)-*&D|1?)}&P#A1{*Q 49($:'56K'<.?F713L1&/<2='#!"'& 6&x#E#,& & & & & 49($:'56K'+?3+(.#!"'& 6&/& & & & & M12"N)5K 5<.?F713L1&/<2='OQ QQ Q Q Q Q Q +(.L9(.649($:'56K'+?3+(.12"$P56P7'& 6&x#E#,& & & & & QRQ/+2"=B/'!"#6+7<S,.+?3P#6<.?F71TQQQ QQ Q Q Q Q Q +(.U!#:,V'K'<.?F71T& 6&/ ./3 3ff&&AK!*&&29}M> *&f 3. && "<D|1*(*AK!*+) <A#} PV#W?W(11(6+X:)(=12"/-I'@L2#(>(& 6&x#E#,& & & & & K'D(%12"N)5K 5@L2%:,Y1F @,A*)<74?4V#6:V()4()W.&.( <7>>74?& 6&x#E#,& & & & & <.?F71):( '39(+7LQWZDZQ[\]\ +(./PV(.5B)-.& ,)K'.#<-HQQ[\\^ & ?18>8={K#2'=?88#?18&&&&&&&&&&&& 6&x#E#,& & & & & & 2'=?88#?18F8(D@"G& 6&x#E#,& & & & & & 2'=?88#?18@88A1B%=C9D18'12E1F"GB+*& 6&x#E#,& & & & & & 2'=?88#?18G89A182(1#M@,-7<& 6&x#E#,& & & & & & >8={K#@1#)J~$!vS"AK!*& 6&/&&28) <&&D1??18>8={K#+) <A#}&/&&28) <&P/ff Q :%7+/+A_J$%&B?S2+(.*..:( & G89w+) &x}!CD9 18'1F1#2(1#MA * "<2'=?88#?18@88A1B%=C9D18'12E1F"GB+*B%!(&MA *(E1&*1<@1(C8D)*+8O&M?wDK¦1N8,:8D*O&#,2' K @#G)F29 8Gv!(* F1# !"G)<2)GG89w)+& C8=81{G)JJ)F9A%)?+8)C7OB%=F%1}A%)?+8)C7O& C N & 34.4& B%=C8=81{G)JJ)F9G89w)+#A1{*D|1?)}& C N & 34.4& B%=#,2(1#8$!& 2(1#@1#18v& >8=@G?18'O *0K8?9D+,-M?,-7( !"<?)G?18}|1M*9*<1* "<G89w)+ & B%=@1#18v{E(7C) *1G89w)+ & x}!& D <MA#1=@# *?18}|18<F|1BA*E< M> *~$!"|1*(7?18& L17(9N(?88#& L17}|1M*9*?18:28<?18&B%= L17 17B%=C) *10K8?9D "<G89w)+ &
JOY OF ENGINEERING AND ACHIEVEMENT
#!")! 5#,3<!5= (>??@
051
I78<11;<,121/P%C+ +
5'?:@.!2<1=554='5"58>6,% 7+@%#C'L+])+Y%#@,I;+V__e+I78<11;<,1T4&21/P%C!18<42$H@-
%
5'?:@.!%
$&'/*(A;
)*+ #,-./010#23++4/1/-,+
!18Y,#<11;<,121/P%C
+
V*+ #,-6/1/-8++@A4&6-,2,B+
14&!18Y,#<11;<,121/P%C
+
]*+ #,&#/561++51785/99:+
<11;<,121/P%C
+
^*+ #,-;,0<09++=>?,-,;,+
<11;<,121/P%C
+
_*+ #,-C/@,++5,1D<+
<11;<,121/P%C
+
c*+ #,-0#1/;,?,++;%9ED04<8+
<11;<,121/P%C
+
e*+ #,-W/@81%<P:++6/#/5,1;7:+
<11;<,14/E18+
+
f*+ #,-<N,Y1++43C,1@3g/6&W:+
<11;<,14/E18++
+
h*+ #,-1/@0?++#,&,04I8+
<11;<,14/E18++
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
052
!"#!$% &'(!%) *+,,-
+ ]*+ 9/$9,;<,1$N, #/#</5<,1T4&21/PC% 9B4$ @B,+ 6J4L FGH;#%L F5@A,<11;<,1C'L !"#U>2H 1/G,1+MB8[\,-5%$<,1 $N, #/#</5<,19,;<RG;,-MB8#0-2,-C'L@,&Q@H + ^*+ $N , #/ # <,1FGH 2 1/ P% C ;' 1 8222% O K' + <,11,-&,# C , & < , 1 &/ # M B 8 < , 1 E 4 2 2% O K' + 1 @ ; C%( & $> M B F GH ;' 1 8 2 2 < , 1 I @ 2 I3 ; Z , - F # M B 8 <,191@5E42Z,-F#C'L ;' ! 18E/ C Y/ Z ,6MB8 !18E/CY/UB + _*+ M9A & 9%( & <11;<,121/ G ,1+ <11;<,191@5E42+ MB8`G1J 4 <11;<,14JL # a+ 9,;I@,; G;,8E;++ MB8I@,;5N , !" # 6JL 4 $> M B5% $ <,1 b6,8</ 5 6JL4!180-K#:T4&21/P%C+ MB8$>MB182221/G,1FGH !"#Q!9,;#0-2,-C'L<N,G#$Q@H + c*+ ;42G;,-FGH<11;<,1I#G#D&L G1J4GB,-I#!d/29% / <,14-A,&F$4-A,&G#DL&MC#I78<11;<,1 + e*+ 6/5,17,4#3;%9/2C2,CG#H,C'LT4&I78<11;<,1 K3 $ -A 4 -9A , &a+ 9B4$5#<,1 !B'L - #M!B& F#4&I: ! 18<42+ 1@;C%( & <,1 !B'L - #M!B&
JOY OF ENGINEERING AND ACHIEVEMENT
C'L ;' #% - EN , I% O 9A 4 < , 1 ! d/ 2% 9/ & , # T 4 & I78<11;<,1K3$-A4-+C'LQ$HM9A&9%(&TD(# 5%$FGH;'<,1SA@&$3B4N,#,5T4&[\,-5%$<,1+MB8` G1J4+U>SH 4J G3#H 1,-FGOAFGH4->FA #18$%2C'L G;,8E;+ 0$-FGHI@,;EN,I%O9A4E%$EA@#G1J45N,#@#T4& <11;<,14/E18F#I78<11;<,1T4&21/PC% $H@$> M BFGH ;' < 182@#<,1F#<,15% $ EA & TH 4 ;> B 6JL 4 FGH I 78<11;<,1Q$H 1% 2 TH 4 ;> B 5,<[\ , 5%$<,14-A,& 6'-&64C'L58CN,FGHE,;,1S!d/2%9/ 9,;4N , #,5+ G#H , C'L + MB8+ I@,;1% 2 U/ $ K42 Q$H4-A,&E;2>17: <N,G#$FGH<11;<,19H4& TH,1A@;!18K3;4-A,&#H4-++ C'L E3 $ <DL & G#DL & T4&5N , #@#I1%( & T4&<,1!18K3 ; C'L5%$TD(#F#M9AB8!j 6/ 5 ,17,<N , G#$MB8M<H Q T !B'L - #M!B& KJL4<11;<,1U>H;'4N,#,5B&#,;U><6%#21/P%C 6/5,17,IA,942MC#<11;<,1Z,-F9H<142 C'LQ$H1%24#3;%9/5,<U>HSJ4G3H#
+ f*+
+ h*+
+)i*+ +))*+ +)V*+
+ 4N , #,5F#<,1$N , #/ # <,1$% & 9A 4 Q!#'( + 58<18CN , Q$H <k9A4 ;JL4Q$H1%24#3;%9/5,<C'L!18K3;U>HSJ4G3H#<A4#+ C%(&#'( 1JL4&C'L <11;<,1;'EA@#Q$H E'-+ G1J4;'I@,;T%$M-H&C,&UB!180-K#: 4JL # F$<% 2 21/ P% C G1J 4 21/ P% C -A 4 -+ FGH < 11;<,1?DL & ;' EA @ #Q$H EA@# E'-+G1J4;'I@,;T%$M-H&C,&UB!180-K#:$&% <BA,@Q;A;E' C/ Y/ 44< E'-&B&I8M##F# 1JL4&#%(# l<m+ 1J4L &C'<L RG;,-<N,G#$FGH94H &Q$H12% ;9/4#3;9% T/ 4& C'L!18K3;U>HSJ4G3H# lTm+ <,1CN , 1,-<,1C'L <'L - @0-&<% # MB8<,1?J( 4 T,-++ E/ # C1% 6 -: C'L EN , I% O 9,;<R <7n: T 4&9B,$o GB%<C1%6-:+ MGA&!18 CWQC-+ G1J49,;C'LG#A@1,K<,14JL#a+<N,G#$ 2<1=554='5"58*'5 + I78<11;<,121/P%C !"#U>HM9A&9%(&<11;<,121/G,1+ 6JL 4 CN , G#H , C'L M 2A & 2,Z,18T4&I78<11;<,121/ P% C F#EA @ #C'L !" # &,#21/ G ,15% $ <,1MB8&,#!185N , 6JL 4 FGH I78<11;<,121/P%C;' @B,;,<TD(#<%2&,#F# K/&#0-2,-MB8 &,#<N,<%2$>MB[\,-21/G,1
5'?:@.!2<1=554='5"58*'5 7+@%#C'L+])+Y%#@,I;+V__e+I78<11;<,121/G,1T4&21/P%C!18<42$H@-
%
5'?:@.!%
)*+ + #,-./010#23+4/1/-,+ + V*+ + #,-C/@,+5,1D<+ + ]*+ + #,&E,@<119/<,+9%#Y3@#/9-:+ + ^*+ + #,- E#AG:+Z>1/E%9-:+ + _*+ + #,&E31%9#,+9p719#8+ + c*+ + #,-@%#K%-+19/#Y1+ + e*+ + #,-./ $098+0I-,;A,+ + f*+ + #,-<42K%-+Y#E3<,O5#:+ + h*+ + #,-->I/04+0< 2+ +)i*+ + #,&E,@615%#C1:++ <P53q,W1'015#:+
JOY OF ENGINEERING AND ACHIEVEMENT
$&'/*(A; !18Y,#<11;<,121/G,1 <11;<,121/G,1 <11;<,121/G,1 <11;<,121/G,1 <11;<,121/G,1 <11;<,121/G,1 <11;<,121/G,1 <11;<,121/G,1 <11;<,121/G,1 <11;<,121/G,1
!"#!$% &'(!%) *+,,-
053
!"# $% !& ' (')*(+ ' ,-. % /0123'456 " 78 9 :!" !;% 2<1=554='5"58*'5 )*+@,&MU#MB8<N , G#$#0-2,-+ C/ W C,&+ <B-3 C Yr + MU#&,#+ MB80I1&E1H , &4&I: < 1MB80I1&E1H , & <,121/ G ,1&,#GB% < F#<,1$N , #/ # Y3 1 </ 5 T4&21/ P% C+ FGHE4$IBH4&<%2EZ,6C,& W1Ps</5MB8EZ,@8<,1MTA&T%# F#9B,$+ 6J4L E#4FGHI78<11;<,121/PC% 6/5,17,4#3;9% / V*+ @,&MU#MB8<N , G#$MU#Y3 1 </ 5 + &2!18;,7!185N , !j + MB84N,#,5<,121/G,1&,#F#E,-&,#9A,&a+ T4&21/P%C+ 6JL 4 E#4FGH I 78<11;<,121/ P% C 6/ 5 ,17,4#3 ;% 9/ + 1@;C%(&6/5,17,4#3;%9/<,15%$E11&2!18;,7!185N ,!j+ <,1M<HQT+ !B'L-#M!B&+ 6/L; 9/;&2!18;,71,-5A,!185N,!j+ F#<17';'I@,;5N, !"# 1A&$A@#+ MB8FGH#N, E#4 9A4C'L!18K3;I78<11;<,1 6JL4C1,29A4Q! ]*+ 91@5E429/ $ 9,;<,1$N , #/ # <,19,;#0-2,-+ MB8 M#@C,&21/G,1&,#$H,#9A,&a+ T4&21/P%CC'L<N,G#$Q@HFGH !"#Q!4-A,&;'!18E/CY/Z,6+ 4J4( 9A4EZ,6<,1$N, #/#Y31</5 ^*+ 91@5E429/$9,;UB<,1$N, #/#&,#T4&21/PC% C'<L ,N G#$Q@H FGH !"#Q!9,;MU#Y31</5C'LQ$H1%24#3;%9/ _*+ 6/5,17,0I1&<,1B&C3#T#,$FGOAT4&21/PC% + 6J4L E#4FGH I78<11;<,121/P%C6/5,17,4#3;%9/ c*+ ;'4,N #,5M9A&9%&( +S4$S4#+ 5H,G#H,C'TL 4&21/PC% F#9N,MG#A& C'L 9LN , <@A , 9N , MG#A & !18Y,#<11;<,121/ G ,1+ l1@;SD & <11;<,121/G,1MB8<11;<,1U>H5%$<,1$H@-m e*+ 6/ 5 ,17,4#3 ;% 9/ M B8$N , #/ # <,1!18;> B &,#G1J 4 1% 2 5H , & CN,T4&<%2G#A@-&,#G1J423IIB9A,&a f*+ !d/ 2% 9/ G #H ,C'L 4JL #a+ 9,; C'L Q$H 1% 2 ;42G ; ,-5, < I78<11;<,1 !"#I1,@a+Q!+MB8FGH;4' ,N #,5F#<,14#3;9% / <,1$N, #/#<,1C,&<,1 &/#$%&#'( l<m+ F#<17'C'L<N,G#$Q@HF#MU#Y31</5G1J4&2!18;,7 !185N , !j C'L I 78<11;<,121/ P% C 4#3 ;% 9/ Q @H M BH @+
054
!"#!$% &'(!%) *+,,-
I78<11;<,121/ G ,1E,;,1S$N , #/ # <,1Q$H 0$-Q;A5N,<%$@& &/# lTm+ F#<17'C'LQ;A TH,<17'9,;TH4+l<m+FGHI78<11;<,1 21/G,1T4&21/PC% ;'4,N #,5F#<,14#3;9% </ ,1$N, #/#<,1 C,&<,1 &/#F#@& &/#Q;A </#+Vi+BH,#2,C+0$-4N,#,5 4#3;%9/C,&<,1 &/#$%&<BA,@581@;SD& + <,14#3;%9/ IA , FKH 5A , -9A , &a+ F#<,1$N , #/ # <,19,;!<9/ Y31</5+ <,1B&C3#F#E/#C1%6-:[\,-C3#+ ltuvwxuy+ z{v|}~wx |m+ G1J4E/#C1%6-:S,@1+ <,1<>H-J; &/#+ <,1FGH <>H -J ; &/ # + <,15% $ G,@& &/ # E/ # KJL 4 + G1J 4 <,144<91,E,1G#'( + 1@;SD&<,1FGHGB%<!18<%#+ l-< @H # <,1FGH G B% < !18<% # 9,;0I1&<,1C'L !18;>BG1J41%25H,&CN,T4&+ ?DL&58Q;A5N,<%$@& &/#m+ <,1I(N,!18<%# &/#<>HG1J4E/# KJL4+ !"#9H#+ + C%(&#'(+ I78<11;<,121/G,14,5;424N,#,5KA@&FGH 6#%<&,#18$%221/G,1T4&21/P%C;'4N,#,54#3;%9/C,&<,1 &/# F# 1JL4&F$ 1JL4&G#DL&G1J4GB,- 1JL4&+ 9,;C'LI78<11;<,1 21/G,16/5,17, Gk#E;I@1 + 4#DL&+ <,14#3;%9/1,-<,1$%&<BA,@TH,&9H#589H4&Q;A;' B%<P78 !"#<,14#3;%9/1,-<,1C'LCN,FGHI78<11;<,121/G,1 G1J4U>1H 2% ;424N,#,55,<I78<11;<,121/G,1+E,;,1S4#3;9% / 1,-<,1C'L9#G1J423IIBC'L4,5;'I@,;T%$M-H&+ ;'EA@#Q$H E'-+ G1J44,5;'I@,;T%$M-H&C,&UB!180-K#:4#JL F$+l9,;TH42%&I%2 T4&21/P%C+ MB89,;C'LEN,#%<&,#+ <*B*9*+ !18<,W<N,G#$m+ CN,<%221/P%C+ G1J421/P%C-A4-+ lSH,;'m+ @H#M9A !"#<,14#3;%9/ 1,-<,1C'L !"#Q!9,;#0-2,-MB8GB%< <7n:C'LI78<11;<,1 21/P%C6/5,17,4#3;%9/Q@HMBH@+ MB8 !"#1,-<,1!18<42Y31</5 !<9/MB8;' &JL4#QT<,1IH,C%L@Q!
JOY OF ENGINEERING AND ACHIEVEMENT
2<17B+"58*'5%C%0&'96"/5=%/017B+#=-.?3 +!;,';='5#;8(/01"6D:7+@%#C'L+])+Y%#@,I;+V__e+21/P%C;'U>H21/G,15N,#@#+h+CA,#+$%&#'(
%
5'?:@.!% )*+ + #,-./010#23+4/1/-,+
+ + + + + + + + + + +
V*+ + #,-C/@,+5,1D<+ + ++ ]*+ + #,&E,@<119/<,+9%#Y3@#/9-:+ + ++ ^*+ + #,- E#AG:+Z>1/E%9-:+ + ++ _*+ + #,&E31%9#,+9p719#8+ + ++ c*+ + #,-@%#K%-+19/#Y1+ + ++ e*+ + #,-./ $098+0I-,;A,+
+ f*+ + #,-<42K%-+Y#E3<,O5#:+ + + ++ + h*+ + #,-5/96B+E/CY/W%<$/r+
$&'/*(A; !18Y,#<11;<,1 5H,G#H,C'L21/G,1MB8 <11;<,1U>H5%$<,1FGOA 14&!18Y,# 5H,G#H,C'L21/G,14,@30E [\,-0I1&<,1+[\,-!18;>B&,#+MB8[\,-@/W@<11; 14&!18Y,# 5H,G#H,C'L21/G,14,@30E+ [\,-21/G,1&,#C%L@Q! 14&!18Y,# 5H,G#H,C'L21/G,14,@30E [\,-@/W@<11;+[ <421;+MB8G#A@-&,# b6,8</5 !18Y,# 5H,G#H,C'L[\,-!d/2%9/<,1 14&!18Y,# 5H,G#H,C'L21/G,1+ 14&!18Y,# 5H,G#H,C'L21/G,1 [\,-$N, #/#&,#0I1&<,1+ 14&!18Y,# 5H,G#H,C'L21/G,1 [\,-T,-MB86%g#,Y31</5 14&!18Y,# 5H,G#H,C'L21/G,1 [\,-<,1 &/#MB82%OK'+MB8#%<B&C3#E%;6%#Y: U>H21/G,1&,#<B3A;2%OK'+21/P%CF# I1J4
!"# $% !&'(')*(+',-.% /0123'456"789:!" !;E51F'( #)+'*(+',-."58*'5/01=554='57B+)69='5G*DA +)*+ !"#U>H21/G,15%$<,1MB8I@2I3;$>MB<,1$N, #/# </ 5 <,1C'L <'L - @TH 4 &<% 2 <,121/ G ,1&,#C%L @ Q!T4& 21/P%C V*+ $N , #/ # <,19,;C'L I 78<11;<,121/ P% C + G1J 4 I78<11;<,121/G,1Q$H;42G;,]*+ ;'4N,#,55H,&+ M9A&9%(&+ 0-<-H,-+ !B$44<+ B/<5H,&+ <N,G#$4%91,IA,5H,&+ FGH2N, G#k51,&@%B+ !1%2TD(#+ &/# $J4#+ IA,942MC#+ &/#02#%E+ T4&6#%<&,# C%( & G;$T4&21/ P% C 9B4$5#M9A & 9%( & 9% @ MC# [\ , -#,-5H , &F#I78<11;<,1<4&C3 # EN , 14& B'(-&K'6T4&21/P%C+ ^*+ ;' 4N , #,54#3 ;% 9/ M B8;424N , #,5KA @ &4#3 ;% 9/ <,1 2/ < 5A , - 6JL 4 <,15% $ ?J( 4 5% $ 5H , &?DL & C1% 6 -: E/ #
JOY OF ENGINEERING AND ACHIEVEMENT
MB821/<,1 6JL4!180-K#:T4&21/P%C+1@;C%(&4#3;%9/ <,1$N , #/ # <,1C,&<,1 &/ # 6JL 4 Y3 1 <11;9A , &a+ T4&21/P%C+ Z,-F#@& &/#C'LI78<11;<,1+ G1J4 I78<11;<,121/G,1FGH4N,#,5Q@H+ MB8;'4N,#,5 F#<,14#3;%9/F#@& &/#Q;A </#+ _+ BH,#2,C+ EN,G1%2 1,-<,1C'IL 78<11;<,1G1J4I78<11;<,121/G,1 ;/Q$H4#3;%9/Q@H !"#<,1 b6,8 _*+ ;' 4N , #,544<IN , E%L & + 18 2' - 2+ !18<,W+ 2% # CD <+ 6JL 4 FGH < ,1!d/ 2% 9/ & ,# !" # Q!9,;#0-2,-MB8 UB!180-K#:T4&21/PC% +MB8 6J4L 1%<P,18 2'-2@/#-% <,1CN,&,#Z,-F#4&I:<1 c*+ ;'4,N #,5<18CN,<,1MB8ME$&9# !"#9%@MC#21/PC% 9A423IIBZ,-#4<F#</5<,1C'L <'L-@TH4&MB8 !"# !180-K#:9A421/P%C !"#!$% &'(!%) *+,,-
055
+ +
e*+ 4#3 ;%9/ < ,1M9A & 9%(& C'L! 1D <P,$H ,#9A , &a+ C'L 5N , !" # 9A4<,1$N, #/#&,# f*+ !d/ 2% 9/ G #H , C'L 4JL # a+ 9,;C'L Q $H 1% 2 ;42G;,-5,< I78<11;<,121/P%CG1J4+ I78<11;<,121/G,1 !"#I1,@a+Q! + C%&( #'+( <,1;42G;,-4N,#,5G#H,C'ML B8I@,;1%2U/$K42 FGH!18Y,# 5H,G#H,C'2L 1/G,1MB8<11;<,1U>5H $% <,1FGOA #%( # + 58Q;A ;' B% < P78 !" # <,1;424N , #,5C'L CN , FGH !18Y,# 5H,G#H,C'L21/G,1MB8<11;<,1U>H5%$<,1FGOA+ E,;,1S4#3;%9/1,-<,1C'L9#G1J423IIBC'L4,5;'I@,; T%$M-H&;'EA@#Q$HEA@# E'-+ G1J44,5;'I@,;T%$M-H&C,& UB!180-K#: 4JL # F$<% 2 21/ P% C + G1J 4 21/ P% C -A 4 -T4& 21/ P% C + l9,;C'L #/ - ,;Q@H F #!18<,WI78<11;<,1 <N,<%2GB%<C1%6-:MB89B,$GB%<C1%6-:m+?DL&<,14#3;%9/ 1,-<,1F#B%<P78$%&<BA,@589H4& E#49A4C'L!18K3; I78<11;<,1+ MB8`G1J4C'L!18K3;U>HSJ4G3H#+ lMBH@M9A <17'm+ 6JL46/5,17,4#3;%9/1,-<,1$%&<BA,@+ 9,;C'L TH42%&I%2T4&21/P%CG1J421/P%C-A4-G1J4<dG;,-C'L <'L-@TH4&<N,G#$+ -< @H# !"#<,14#3;%9/1,-<,1C'L;' &JL4#QT!<9/Y31</5C'L;'<,1<N,G#$T42 T9C'LK%$ 5#
='5H55*'=554='5/017B+"58*'5
2<1=554='5"58>6, + 21/PC% ;'<,1M9A&9%&( I78<11;<,1E11G,MB86/5,17, IA,942MC# 6JL4I%$ BJ4<23IIBC'L58$N,1&9N,MG#A&<11;<,1 T4&21/P%C+ 0$-586/5,17,I%$E1123IIBU>H;'I37@3g/+ I@,;1>H+ I@,;E,;,1S+ ;'!18E2<,17:<,1CN,&,#C'L <'L-@TH4&MB8;' I37E;2%99/ ,;C'<L RG;,-<N,G#$+9,;;,91,+cf+MGA&6181,Ko++ 2%OO%9/21/P%C;G,K#5N,<%$+ 6*W*+ V_]_+ MB89,;!18<,W I78<11;<,1<N , <% 2 GB% < C1% 6 -: M B89B,$GB% < C1% 6 -: C'L <'L-@TH4&+ 6JL4!180-K#:9A4<,1$N, #/#&,#T4&21/P%CFGH;'+ !18E/ C Y/ Z ,6+ 21/ P% C Q$H <N , G#$GB% < <7n: F #<,1M9A & 9%( & MB8S4$S4#<11;<,1$%&#'(+ )*+ I78<11;<,121/P%C9H4&!18<42$H@-<11;<,1 Q;A#H4-<@A,+_+I#+M9AQ;A </#+Vi+I#+0$-<11;<,1 Q;A#H4-<@A,<DL&G#DL&T4&5N,#@#<11;<,1C%(&G;$ 9H 4 &;' S/L # C'L 4 ->A F #1,K4,7,5% < 1+ MB8<11;<,1 C3 < I#589H 4 & !" # U>H ;' I3 7 E;2% 9/ 9 ,;C'L < RG;,<N,G#$ V*+ <,1 BJ4<9%(&I78<11;<,121/P%C58<18CN,0$C'L ! 18K3 ; U>H SJ 4 G3H # + 9,;GB% < <7n: M B8@/ Y' < ,1 $%&9A4Q!#'(
056
!"#!$% &'(!%) *+,,-
l<m+ U>H SJ 4 G3H # I#G#DL & ;' I 8M## E' - & CA , <% 2 G#DL&G3H#9A4G#DL& E'-&9,;5N,#@#G3H#C'L9#SJ4 lTm+ U>HSJ4G3H#M9AB8I#589H4&FKHI8M## E'-&C'L;' 4->AC%(&G;$9,;+ l<m+ BJ4<9%(&23IIBI# $'-@ G1J4GB,-I# !"#<11;<,1<kQ$H+ M9A58M2A& I8M## E'-&FGHM<AUF>H $;,<#H4- 6'-&F$Q;AQ$H lIm+ 23IIB?DL&Q$H1%2I8M## E'-&E>&E3$9,;BN,$%2 B&;,+ !"#U>QH $H12% <,1 BJ4<9%&( !"#<11;<,1 CA,+ 5N,#@#<11;<,1C'L586D&;'G1J4586D& BJ4<9%(& F#I1%&( #%#( +F#<17'C2'L I3 IB+?D&L Q$H12% <,1 BJ4<9%&( + + + + F#BN,$%2S%$B&;,;'I8M## E'-& CA,<%# </# 5N,#@#<11;<,1C'L586D&;'+G1J4586D& BJ4<9%(&+ F#I1%&( #%#( FGHUH> !"#!18Y,# !"#U>4H 4< E'-&K'T( ,$ ]*+ F#<,1!18K3;E,;%O!185N,!jC3<I1%(&+ FGH<11;<,1 44<5,<9N,MG#A&+ )+ F#+ ]+ SH,5N,#@#<11;<,1 C'L58M2A&44<FGH91& !"#E,;EA@#Q;AQ$H+ FGH44< 0$-5N,#@#F<BHC'LE3$<%2EA@#+)+F#+]+0$-<11;<,1 C'L589H4&44<5,<9N,MG#A&F#!jM1<MB8!jC'LE4& FGHFKH@/Y'5%2EB,<<%#@A,U>HF$5844<+ EA@#!jGB%&a+ 9A4Q!+ FGH<11;<,1I#C'L4->AF#9N,MG#A&#,#C'LE3$ #%(# !"#U>H44<5,<9N,MG#A&<11;<,1+ <11;<,1 C'L 5 844<9,;@,18#'( 4 ,5Q$H 1% 2 BJ 4 < TH , ;, $N,1&9N,MG#A&FG;A<kQ$H ^*+ F#<17'C'L9N,MG#A&<11;<,1@A,&B&+ 61,8 G934JL# #4<5,<SD&I1,@44<9,;@,18+ FGHI78<11;<,1 BJ4<23IIBF$23IIBG#DL&+ ?DL&;'I37E;2%9/MB8Q;A;' B%<P789H4&GH,;9,;<RG;,- TH, !"#<11;<,1 MC#F#<,1!18K3 ; I78<11;<,1I1,@S% $ Q!+ @H#M9A@,18T4&<11;<,158 GBJ4#H4-<@A,+V+ $J4#+ 23IIB?DL& TH, !"#<11;<,1MC#$%&<BA,@+ 584->AF# 9N,MG#A&<11;<,1Q$H 6'-& CA,@,18C'L-%& GBJ44->A T4&<11;<,1C'L9#MC#+ ;9/T4&I78<11;<,1 F#<,1 BJ 4 <<11;<,1C'L $N , 1&9N , MG#A & MC# 9H4&!18<42$H@-I8M## E'-&Q;A#H4-<@A,+]+F#+^+ T4&5N,#@#<11;<,1C'L-%& GBJ44->A _*+ C'L ! 18K3 ; U>H SJ 4 G3H # 4,5B&;9/ F GH < 11;<,1I#F$ 44<5,<9N , MG#A & + <A 4 #SD & I1,@44<9,;@,18 Q$H$@H -I8M## E'-&Q;A#4H -<@A,+]+F#+^+T4&5N,#@# U>H SJ 4 G3H # ?DL & ;,!18K3 ; MB8;' E/ C Y/ 4 4< E' - &MB8 ;'G3H##%21@;<%#Q$HQ;A#H4-<@A,<DL&G#DL&T4&5N,#@# G3H # C'L SJ 4 0$-U>H SJ 4 G3H # C'L ; ,!18K3 ; MB8;' E/ C Y/ 44< E'-&F#<,1!18K3;#%(#
JOY OF ENGINEERING AND ACHIEVEMENT
2<1=554='5$53)H!"%
5'?:@.!2<1=554='5$53)H!" 7+@%#C'L+])+Y%#@,I;+V__e+I78<11;<,191@5E42T4&21/P%C!18<42$H@-
%
5'?:@.!% 1. #,-W/@81%<P:+6/#/5,1;7:+ 2. #,-<N,Y1+43C,1@3g/6&W:+ 3. #,-1/@0?+#,&,04I8+
$&'/*(A; !18Y,#<11;<,191@5E42 <11;<,191@5E42 <11;<,191@5E42
#,-5/96B+E/CY/W%<$/r+CN,G#H,C'L !"# BT,#3<,1I78<11;<,191@5E42 IJ% !"# $%!&'(')*(+',-./0123'456"789:!" !; 2<1=554='5$53)H!" + FGHI78<11;<,191@5E42;'4,N #,5G#H,C'$L &% 9A4Q!#'( )*)++ E42C,#FGH 2 1/ P% C ;' 1 ,-&,#C,&<,1 &/ # S><9H4&MB8 6'-&64 )*V++ E42C,#FGH 2 1/ P% C ;' 1 822<,1I@2I3 ; Z,-F#+ l }x| }uy+ t }x ym+ MB8<,1 91@5E42Z,-F#+ l }x| }uy+ ~wxm+ C'L G;,8E;MB8;'!18E/CY/UBMB86/5,17, I@,; !" # 4/ E 18T4&G#A @ -&,#91@5E42 Z,-F#+ 9B4$5#FGHI@,; Gk#K42F#<,1 M9A&9%(&0-<-H,-+I@,;$'I@,;K42+MB8<,1 B/<5H,&G%@G#H,G#A@-&,#91@5E42Z,-F# G1J4G#A@-&,#4JL#F$C'L1%2U/$K42 <'L-@<%2 <,191@5E42Z,-F# )*]++ E42C,#FGH 2 1/ P% C !d/ 2% 9/ 9 ,;<RG;,@A , $H @-GB% <C1%6 -: + MB89B,$GB% < C1%6 -: + TH 4 <N , G#$T4&9B,$GB% < C1% 6 -: + G1J 4+ <RG;,-C'L <'L-@TH4&<%2Y31</5T4&21/P%C 1*^++ 6/ 5 ,17,+I% $ BJ 4 <+ E#4M9A & 9%( & 23 I IB C'L ;' I @,; !" # 4/ E 18 6JL 4 CN , G#H , C'L !" # U>EH 422%OK'+MB8 E#4IA,942MC#U>EH 422%OK'+ T4&21/ P% C + 1@;C%( & TH , 1A @ ;!18K3 ; <% 2 U>H E 422% O K' 0 $-Q;A ;' [\ , -5% $ <,1 TH , 1A @ ; !18K3;4-A,&#H4-!jB8+)+I1%(& )*_++ 6/5,17,1,-<,1C'L <'L-@0-&<%#G1J41,-<,1 C'L 4 ,5;' I @,;T% $ M-H & C,&UB!180-K#: FGH !" # Q!9,;<RG;,-MB8TH 4 <N , G#$
JOY OF ENGINEERING AND ACHIEVEMENT
T4&9B,$GB%<C1%6-:+ C%(&#'(+ 6JL4FGH;%L#F5 @A , + 1,-<,1$% & <BA , @E; G93 E ;UBMB8 !"#!180-K#:E>&E3$9A421/P%C )*c++ E42C,#FGH 2 1/ P% C ;' 1 822<,121/ G ,1 I@,; E'L - &+ l w + u}u | |}xm+ C'L G;,8E;MB8;'!18E/CY/UB )*e++ 5%$CN,1,-&,#T4&I78<11;<,191@5E42++ 0$- ! $ U-Q@HF#1,-&,#!185N,!jT4&21/PC% + ?DL & 1,-&,#$% & <BA , @9H 4 &B&#,;0$!18Y,#I78<11;<,191@5E42MB89H4& !18<42$H@-TH4;>B4-A,&#H4-$%&9A4Q!#'( )*e*)++I@,; Gk # <'L - @<% 2 I@,;S> < 9H 4 & I12SH@#+ !"#C'L KJ4L SJ4Q$HT4&1,-&,#++ C,&<,1 &/#T4&21/P%C )*e*V+ I@,; Gk # <'L - @<% 2 I@,; 6' - &64 T4&1822I@2I3;Z,-F#T4&21/P%C )*e*]+ I@,; Gk# <'L-@<%2<,1!d/2%9/9,;++ <dG;,-@A , $H @ -GB% < C1% 6 -: M B8 9B,$GB% < C1% 6 -: + TH 4 <N , G#$T4& 9B,$GB% < C1% 6 -: G 1J 4 <RG;,-C'L <'L-@TH4&<%2Y31</5T4&21/P%C )*e*^++I@,; Gk# <'L-@<%2I@,; G;,8E; T4&U>HE422%OK' )*e*_++I@,; Gk# <'L-@<%21,-<,1C'L4,5;' I@,;T%$M-H&C,&UB!180-K#: )*e*c++5N , #@#!18K3 ; I78<11;<,1 91@5E42MB8<,1 TH,1A@;!18K3; T4&<11;<,191@5E42M9AB8CA,#
!"#!$% &'(!%) *+,,-
057
)*e*e++I@,; Gk # G1J 4 TH 4 E% & <93 0 $-1@; C'IL 78<11;<,191@5E42Q$H12% 5,< <,1!d/2%9/G#H,C'L9,;<R2%91 )*e*f++1,-&,#4JL # C'L Gk # @A , U>H SJ 4 G3H # MB8 U>H B &C3 # C%L @ Q!I@1C1,2+ Z,-F9H T42 T9G#H,C'LMB8I@,;1%2U/$K42++ C'L Q $H 1% 2 ; 4 2 G ; , - T 4 & I 7 8 <11;<,121/P%C +)*f++ 1,-&,#UB<,1!d/29% &/ ,#T4&I78<11;<,1 91@5E42+ FGHI78<11;<,121/P%CC1,2 4-A,&#H4-!jB8+^+I1%(& +)*h+ FGH ;' 4N , #,5@A , 5H , &C'L ! 1D < P,+ G1J 4 23 I IB Z,-#4<9,;18 2' - 2T4&21/ P% C ;,FGH I@,; Gk#G1J4IN,!1D<P,F#<17'5N, !"# )*)i*++FGH;'4N,#,5 K/O<11;<,1+U>H21/G,1+G%@G#H, G#A@-&,#G1J46#%<&,#T4&21/PC% G,1J4G1J4 942IN,S,;T4&I78<11;<,191@5E42 )*))*++6/ 5 ,17,C2C@#T42 T94N , #,5G#H , C'L I @ , ; 1% 2 U/ $ K 4 2 + M B 8 ! 1 8 ;/ # U B <,1!d/29% &/ ,#T4&I78<11;<,191@5E42 !"#!185N,C3<!j )*)V*++!d/ 2% 9/ < ,14JL # F$9,;C'L I 78<11;<,1 21/P%C;42G;,-+ $H@-I@,; Gk#K425,< I78<11;<,191@5E42 )*)]*++F#<,1!d/ 2% 9/ G #H , C'L T 4&I78<11;<,1 91@5E42+G,<62G1J4;'T4H E&E%-@A,+;'1,-<,1++ G1J 4 <,1<18CN , $% & 9A 4 Q!#'( + ?DL & 4,5;' U B <18C24-A,&;'#-% EN,I%O9A4s,#8<,1 &/#MB8++ <,1$N, #/#&,#T4&21/PC% +FGHI78<11;<,1++ 91@5E421,-&,#9A 4 I78<11;<,1T4& 21/P%C 6JL4$N, #/#<,1!1%2!13&M<HQTZ,-F# @B,C'LI78<11;<,191@5E42 Gk#E;I@1 )*)]*)++1,-<,1C'L </ $ I@,;T% $ M-H & C,& UB!180-K#: )*)]*V++<,1C3 5 1/ 9 G1J 4 ;' E/L & U/ $ !<9/ G 1J 4 ;'I@,;2<61A4&C'LEN,I%OF#1822 I@2I3;Z,-F# )*)]*]++< , 1 [\ , [ # < d G ; , - @A , $H @ GB%<C1%6-:MB89B,$GB%<C1%6-:+ TH 4 <N , G#$T4&9B,$GB% < C1% 6 -: G1J4<dG;,-C'L <'L-@TH4&<%2Y31</5 T4&21/P%C
058
!"#!$% &'(!%) *+,,-
+
+ G , < I 7 8 < 1 1 ; < , 1 T 4 & 2 1/ P% C G 1J 4 U>H 2 1/ G ,1Q;A $N , #/ # <,1FGH ;' < ,1!1% 2 !13 & M<H Q T F# @B,9,;@11IG#DL&+ <11;<,191@5E421,-F$++ 1,-G#DL & 4,51,-&,#@A,;'1,-<,1G1J4<,1<18CN, 9,;@11IG#DL&9A4EN ,#%<I78<11;<,1<,1<N ,<%2+ GB%<C1%6-:MB89B,$GB%<C1%6-:G1J49B,$GB%<C1%6-:+ )*)^*+ F#<17' C'L U>H E 422% O K' 6 26p9/ < ,17: 4%#E&E%-@A,<11;<,1+ U>H5%$<,1G1J423IIB ?DL&1%2U/$K42F#<,1$N, #/#&,#T4&21/P%C Q$H<18CN,I@,;U/$9,;<RG;,-1823MB8 Q$H M 5H & TH 4 Ck 5 51/ & <'L - @<% 2 6p9/ < ,17: $% &<BA, @FGH I 78<11;<,191@5E42T4& 21/ P% C C1,2MB8$N , #/ # <,191@5E42 9A4Q!0$-Q;AK%<KH,+ MB8FGHI78<11;<,1 91@5E421,-&,#UB<,191@5E42 2J( 4 &9H # FGH M <A EN , #% < &,#+ <B9*MB8++ U>H E 4 2 2% O K' C 1 , 2 Z , - F # E , ; E/ 2 @% #++ #% 2 M9A @% # C'L Q $H 1% 2 M5H & 5,<U>H E 422% O K' + 6 p 9/ < , 1 7: 4% # I @ 1 E & E% - C'L 9H 4 & M 5H &++ $%&<BA,@MB8@/Y'<,1 6JL4FGHQ$H+?DL&TH4 Ck551/& + + <'L - @<% 2 6p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
FGH<11;<,191@5E42;'@,184->FA #9N,MG#A&I1,@B8+ ]+!j+ <11;<,191@5E42?DL&6H#5,<9N,MG#A&9,;@,18
JOY OF ENGINEERING AND ACHIEVEMENT
4,5Q$H12% <,1M9A&9%&( FG;A4<' Q$HQ;A </#+V+@,189/$9A4<%#+ @H#M9AI78<11;<,121/P%C58 Gk# !"#4-A,&4JL# #4<5,<<,16H # 5,<9N , MG#A & 9,;@,18$% & <BA , @ TH,&9H#+<11;<,191@5E426H#5,<9N,MG#A& ;JL4+ ]*)++ 9,]*V++ B,44< ]*]++ T,$I37E;2%9/<,1 !"#<11;<,191@5E42 9,;TH42%&I%2#'(+ G1J49,;GB%< <7n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hi+@%#+ 6J4L FGH<11;<,191@5E42;'5N,#@# I129,;C'IL 78<11;<,121/PC% <N,G#$+0$-23IIB C'L TH, !"#<11;<,191@5E42MC#++4->AF#9N,MG#A& Q$H 6' - & CA , @,18C'L -% & GBJ 4 4->A T 4&<11;<,1 91@5E42?DL&9#MC# CJ% ='5E51:M4 + + FGH;<' ,1!18K3;I78<11;<,191@5E424-A,&#H4!j B 8+ _+ I1%( & + F#<,1 1' - <!18K3 ; I78<11;<,1 91@5E42+ FGH!18Y,#I78<11;<,191@5E42G1J4 BT,#3<,1+ I78<11;<,191@5E420$-IN,E%L&T4& !18Y,#I78<11;<,191@5E42+ EA & G#% & EJ 4 #% $
JOY OF ENGINEERING AND ACHIEVEMENT
+
+ +
+
+
+
!18K3;Q!-%&<11;<,191@5E42Q;A#H4-<@A,+ e+ @%# <A4#@%#!18K3;+ @H#M9AF#<17'5N, !"#1'2$A@#58M5H& <,1#%$!18K3;0$-@/Y4' #JL +G1J4<N,G#$@%#!18K3;FGH 1k@ <@A,#%(#+<kQ$H OJ% !;2LE51:M4% + F#<,1!18K3 ; I78<11;<,191@5E42+ 9H 4 &;' I78<11;<,191@5E42;,!18K3 ; Q;A #H 4 -<@A , <DL & G#DL & T4&5N , #@#<11;<,191@5E42C%( & G;$ C'LI78<11;<,121/P%CM9A&9%(&+ 5D&58 !"#4&I:!18K3;+ F#<17'C!'L 18Y,#<11;<,191@5E42Q;A4->FA #C'!L 18K3;+ G1J4Q;AE,;,1S!d/29% G/ #H,C'QL $H+FGH<11;<,191@5E42++ ?DL & ;,!18K3 ; BJ 4 <<11;<,191@5E42I#G#DL & !"#!18Y,#F#C'L!18K3; + <,1@/#/5b%-K'(T,$T4&C'L!18K3;FGHSJ4 E'-&TH,&;,< + <11;<,191@5E42I#G#DL & ;' E' - &G#DL & F#<,1 B&I8M##+ @H#M9A<11;<,191@5E42?DL&;'EA@#Q$H EA @ # E' - F# 1JL 4 &F$Q;A ;' E/ C Y/ 4 4< E' - &B&I8M## F# 1JL4&#%(#+ SH,I8M## E'-& CA,<%#FGH!18Y,#F#C'L !18K3;44< E'-& 6/L;TD(#4'< E'-&G#DL&+ !"# E'-&K'(T,$ + <,1B&;9/T4&I78<11;<,191@5E42+4,5<18CN,+ Q$H 0 $-Q;A 9H 4 &;' < ,1!18K3 ; + MB8;' U BE;2> 1 7: E;J 4 #G#DL & @L , Q$( ;' < ,1!18K3 ; B&;9/ M B( @ + ;JL 4 ;9/ #%( # a+ <11;<,191@5E42Q$HB&B,-;J4KJL41%214&Q@H C3<I# PJ% 2A'$!"/,( + !18Y,# 5H,G#H,C'2L 1/G,1MB8<11;<,1U>5H $% <,1FGOA+ E#4UA , #I78<11;<,1E11G,MB86/ 5 ,17, IA,942MC# 6J4L #N, E#4I78<11;<,121/PC% 6/5,17, 4#3;%9/9,;C'L Gk#E;I@1 QJ% *(A3?;'(,-.56"789:!" + FGHG@% G#H,G#A@-&,#G1J4G#A@-&,#MB8[\,-21/G,1 C'L <'L - @TH 4 &<% 2 &,#F#G#H , C'L T 4&I78<11;<,1 91@5E42 !" # U>H 1% 2 U/ $ K420$-91&F#<,15% $ CN , 1@21@;91@5E42 4<E,1TH 4 ;> B MB81,-&,#FGH I78<11;<,191@5E42 6JL 4 C1,2`6/ 5 ,17, G1J 4 $N , #/ # 1JL 4 &9A 4 Q!+ MBH @ M9A < 17' 9 ,;C'L <N , G#$ Q@H F #Z,IU#@<+ F#<R2% 9 1T4&I78<11;<,1 91@5E42
!"#!$% &'(!%) *+,,-
059
2<1=554='5H55*'/01R8)'5<'2A'$!"/,(
0$-M9A&9%(&5,<<11;<,121/P%C+ ]+ CA,#+ C%(&#'(+ 7+ @%#C'L+ ])+ + I78<11;<,121/P%CQ$H4#3;%9/5%$9%(&<11;<,1E11G,+ Y%#@,I;+V__e+I78<11;<,1E11G,MB86/5,17,IA,942MC#+ MB86/5,17,IA,942MC#+ ;JL4@%#C'L+ +)V+6pW5/<,-#+V__]+ !18<42$H@-
%
5'?:@.!% 1. #,-1/@0?+#,&,04I8+ 2. #,-<N,Y1+43C,1@3g/6&W:+ 3. #,-C/@,+5,1D<+
$&'/*(A; !18Y,#<11;<,1E11G,MB86/5,17,IA,942MC# <11;<,1E11G,MB86/5,17,IA,942MC# <11;<,1E11G,MB86/5,17,IA,942MC#
#,&E,@<119/<,+9%#Y3@#/9-:+CN,G#H,C'L !"# BT,#3<,1I78<11;<,1E11G,MB86/5,17,IA,942MC# IJ% !"# $% !& ' (')*(+ ' ,-. / 0123'456 " 78 9 :!" !;2<1=554='5H55*'/01R8 ) '5<'% 2A'$!"/,( + FGHI78<11;<,1E11G,MB86/5,17,IA,942MC# ;'4N,#,5G#H,C'L$%&9A4Q!#'( )*)+ 6/5,17,MB8#N, E#40I1&E1H,&+4&I:!18<42+ 1@;C%( & I3 7 E;2% 9/ T 4&I78<11;<,121/ P% C+ MB8<11;<,191@5E42T4&21/P%C )*V+ E # 4 M # 8 1 , - KJL 4 U>H C'L G ; , 8 E ; C'L 5 8 $N , 1&9N , MG#A & <11;<,121/ P% C 9A 4 I78o <11;<,121/ P% C + 6JL 4 #N , E#49A 4 C'L ! 18K3 ; U>H SJ 4 G3H # F#<17' C'L 9N , MG#A & @A , &B& #JL 4 &5,< I12@,18+MB8#N, E#49A4I78<11;<,121/PC% F#<17'4JL#a )*]+ 6/5,17, E#40I1&E1H,&IA,942MC#<11;<,1 21/ P% C MB8U>H 2 1/ G ,1+ Q$H M <A + 02#% E + MB8+ UB!180-K#:942MC#4JL#a+ C%(&C'L !"#9%@ &/# MB8;/FKA9%@ &/# )*^+ 6/5,17,IA,942MC#<11;<,121/P%C+ MB8 U>H21/G,1+0$-IN,#D&SD&I@,; G;,8E; <'L-@<%2+ !18 ZC+T#,$+UB<,1$N, #/#&,#+?D&L E4$IBH4&++ <%2EZ,@80$-C%@L Q!T4&9B,$MB8439E,G<11;++ $'-@<%#C%(&F#MB8#4<9B,$GB%<C1%6-: )*_+ !18 ;/ # UB<,1!d/ 2% 9/ & ,#!185N , !j T 4& I78<11;<,1E11G,MB86/5,17,IA,942MC#+ MB81,-&,#9A4!18Y,# 5H,G#H,C'L21/G,1MB8 <11;<,1U>H 5%$<,1FGOAG 1J 4I78<11;<,1 21/P%C++++++++
060
!"#!$% &'(!%) *+,,-
)*c+ <N , G#$ <7n: ! 18 ;/ # UB<,1!d/ 2% 9/ & ,# T4&!18Y,# 5H,G#H,C'L21/G,1MB8<11;<,1 U>H5%$<,1FGOA+ 6JL4#N, E#49A4I78<11;<,1 21/P%C )*e+ !d/ 2% 9/ & ,#4JL # F$9,;C'L ! 18Y,# 5H , G#H , C'L 21/ G ,1MB8<11;<,1U>H 5% $ <,1FGOA G 1J 4 I78<11;<,121/P%C;42G;,-4%# <'L-@ #JL4&++ <%2<,1E11G,+ MB86/5,17,IA,942MC#T4& <11;<,1MB8U>H21/G,1 KJ% !;2LE51=!"/012M<H4"6$8 V*)+ !"#<11;<,121/P%C V*V+ !18Y,# 5H , G#H , C'L 2 1/ G ,1MB8<11;<,1 U>H 5% $ <,1FGOA !" # U>H 6/ 5 ,17,M9A & 9%( & I78o <11;<,1E11G,MB86/ 5 ,17,IA , 942MC# ?DL&!18<42$H@-<11;<,1+4-A,&#H4-+]+I# V*]+ I 7 8 < 1 1 ; < , 1 E 1 1 G , M B 8 6/ 5 , 1 7 , IA,942MC#;'E;,K/<C'L !"#<11;<,14/E18 !"#EA@#FGOA4-A,&#H4-5N,#@#+V+I# V*^+ FGH I 78<11;<,1E11G,MB86/ 5 ,17, IA , 942MC# BJ 4 <<11;<,1E11G,MB8 6/5,17,IA,942MC#C'L !"#<11;<,14/E18 TD(# !"#!18Y,#I#G#DL& V*_+ <11;<,14/E18C'L !"#!18Y,#I78<11;<,1 E11G,MB86/ 5 ,17,IA , 942MC#9H 4 &;' + I3 7 E;2% 9/ T 4&<11;<,14/ E 18I12SH @ # 9,;!18<,WI78<11;<,1<N,<%29B,$C3#
JOY OF ENGINEERING AND ACHIEVEMENT
NJ% 3'51='59&'5;$&'/*(A; + + FGH < 11;<,1E11G,MB86/ 5 ,17,IA , 942MC# ;' @ ,184->A F #9N , MG#A & I1,@B8+ ]+ !j + 0$-FGH E/( # E3 $ F#@%#C'+L ])+Y%#@,I;+T4&!jCI'L 12@,18+<11;<,1E11G, MB86/5,17,IA,942MC#?D&L 6H#5,<9N,MG#A&9,;@,18 4,5Q$H1%2<,1M9A&9%(&FG;A4'<Q$H + + I78<11;<,1E11G,MB86/5,17,IA,942MC# 58$N,1&9N,MG#A&Q$HQ;A </#+ V+ @,189/$9A4<%#+ @H#M9A !18Y,# 5H,G#H,C'L21/G,1MB8<11;<,1U>H5%$<,1FGOA G1J4I78<11;<,121/P%C58 Gk# !"#4-A,&4JL# + + #4<5,<<,16H#5,<9N,MG#A&9,;@,18$%&<BA,@ TH,&9H#+ <11;<,1E11G,MB86/5,17,IA,942MC# 6H#5,<9N,MG#A& ;JL4 ]*)+ 9,]*V+ B,44< ]*]+ T,$I37E;2%9/<,1 !"#<11;<,1E11G,MB8 6/ 5,17,IA, 942MC#9,;TH42%& I% 2 #'( + G1J4 9,;GB%< <7n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
JOY OF ENGINEERING AND ACHIEVEMENT
MB8<11;<,1U>H 5% $ <,1FGOA M 9A & 9%( & 23 I IBC'L ;' I37E;2%9/I12SH@#TD(# !"#<11;<,1E11G,MB8 6/5,17,IA,942MC#+MC#Z,-F#+hi+@%#+ 6JL4FGH <11;<,1E11G,MB86/5,17,IA,942MC#+;'5,N #@# I129,;C'L<N,G#$+ 0$-23IIBC'L TH, !"#<11;<,1 E11G,MB86/5,17,IA,942MC#4->AF#9N,MG#A& Q$H 6'-& CA,@,18C'L-%& GBJ44->AT4&<11;<,1E11G, MB86/5,17,IA,942MC#?DL&9#MC# CJ% ='5E51:M4 ^*)+ FGH ;' < ,1!18K3 ; I78<11;<,1E11G,MB8 6/5,17,IA,942MC#4-A,&#H4-!jB8++V+I1%(& ^*V+ F#<,1 1' - <!18K3 ; I78<11;<,1E11G, MB86/ 5 ,17,IA , 942MC#+ FGH ! 18Y,# I 7 8 < 1 1 ; < , 1 E 1 1 G , M B 8 6/ 5 , 1 7 , IA,942MC#+ G1J4 BT,#3<,1+ I78<11;<,1 E11G,MB86/ 5 ,17,IA , 942MC#0$-IN , E%L & T4&!18Y,#I78<11;<,1E11G,MB8 6/5,17,IA,942MC#+ EA&G#%&EJ4#%$!18K3; Q ! -% & < 1 1 ; < , 1 E 1 1 G , M B 8 6/ 5 , 1 7 , IA,942MC#+Q;A#H4-<@A,+e+@%#<A4#@%#!18K3;+ @H#M9AF#<17'5N, !"#1'2$A@#58M5H&<,1#%$ !18K3 ; + 0$-@/ Y' 4JL # + G1J 4 <N , G#$@% # !18K3 ; FGH 1k@<@A,#%(#<kQ$H OJ% !;2LE51:M4 _*)+ F#<,1!18K3 ; I78<11;<,1E11G,MB8 6/5,17,IA,942MC#+ 9H4&;'I78<11;<,1 E11G,MB86/5,17,IA,942MC#;,!18K3; Q;A #H 4 -<@A , <DL & G#DL & T4&5N , #@#<11;<,1 E11G,MB86/ 5 ,17,IA , 942MC#C%( & G;$ C'L I 78<11;<,121/ P% C M9A & 9%( & + 5D & 58 !" # 4&I:!18K3;+F#<17'C!'L 18Y,#<11;<,1E11G, MB86/5,17,IA,942MC#Q;A4->AF#C'L!18K3;+ G1J4Q;AE,;,1S!d/2%9/G#H,C'LQ$HFGH<11;<,1 E11G,MB86/5,17,IA,942MC#++?D&L ;,!18K3; BJ 4 < < 1 1 ; < , 1 E 1 1 G , M B 8 6/ 5 , 1 7 , IA,942MC#I#G#DL& !"#!18Y,#F#C'L!18K3; _*V+ <,1@/#/5b%-K'(T,$T4&C'L!18K3;FGHSJ4 E'-&TH,& ;,< _*]+ <11;<,1E11G,MB86/ 5 ,17,IA , 942MC# I#G#DL&;' E'-&G#DL&F#<,1B&I8M##+ @H#M9A !"#!$% &'(!%) *+,,-
061
<11;<,1E11G,MB86/ 5 ,17,IA , 942MC#+ ?DL&;'EA@#Q$H E'-F# 1JL4&F$Q;A;'E/CY/44< E'-& B&I8M##F# 1JL4&#%(#+ SH,I8M## E'-& CA,<%#+ FGH ! 18Y,#F#C'L ! 18K3 ; 44< E' - & 6/L ; TD( # 4'< E'-&G#DL& !"# E'-&K'(T,$ _*^+ <,1B&;9/ T 4&I78<11;<,1E11G,MB8 6/ 5 ,17,IA , 942MC#+ 4,5<18CN , Q$H 0 $Q;A 9H 4 &;' < ,1!18K3 ; + MB8;' U BE;2> 1 7: E;J 4 #G#DL & @A , Q$H ;' < ,1!18K3 ; B&;9/ M BH @+ ;JL4;9/#%(#a+ <11;<,1E11G,MB86/5,17, IA,942MC#Q$HB&B,-;J4KJL41%214&Q@HC3<I#
PJ% 2A'$!"/,( !18Y,# 5H,G#H,C'L21/G,1MB8<11;<,1U>H5%$<,1 FGOA !" # U>H 6/ 5 ,17,<N , G#$IA , 942MC#<11;<,1 E11G,MB86/5,17,IA,942MC#9,;C'L Gk#E;I@1+MB8 1,-&,#FGHC'L!18K3;I78<11;<,121/P%C 6JL4C1,2 QJ% *(A3?;'(,-.56"789:!" FGHG@% G#H,G#A@-&,#+G1J4G#A@-&,#MB8[\,-21/G,1 C'L <'L-@TH4&<%2&,#F#G#H,C'LT4&I78<11;<,1E11G, MB86/5,17,IA,942MC# !"#U>H1%2U/$K420$-91& F#<,15% $ CN , 1@21@;+ 91@5E42 4<E,1TH 4 ;> B MB81,-&,#FGH I 78<11;<,1E11G,MB86/ 5 ,17, IA,942MC#+ 6JL4C1,2+ 6/5,17,+ G1J4$N, #/#<,1 1JL4&9A4Q!
2<1=554='5"58*'523'4#H-.?;
5,<<11;<,121/P%CMB8U>H21/G,1+ _+ CA,#+ C%(&#'(+ 7+ @%#C'L+ ])+ + I78<11;<,121/P%CQ$H4#3;%9/5%$9%(&I78<11;<,1 Y%#@,I;+V__e+!18<42$H@-I78<11;<,121/G,1I@,; E'-L &+ 21/G,1I@,; E'-L &+ ;J4L @%#C'+L )V+6pW5/<,-#+V__]+0$-M9A&9%&( $%&1,-KJL49A4Q!#'(
%
5'?:@.!%
)*+ #,-<N,Y1+43C,1@3g/6&W:+ 2. #,- E#AG:+Z>1/E%9-:+ + ]*+ #,&E31%9#,+9p719#8+ + ^*+ #,-@%#K%-+19/#Y1+ + _*+ #,-<42K%-+Y#E3<,O5#:+
$&'/*(A; !18Y,#<11;<,121/G,1I@,; E'L-& <11;<,121/G,1I@,; E'L-& <11;<,121/G,1I@,; E'L-& <11;<,121/G,1I@,; E'L-& <11;<,121/G,1I@,; E'L-&
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g#,<,121/G,1I@,; E'L-&++ )*V+<N , G#$;,91s,#T4&<,121/ G ,15% $ <,1 FGH </ $ TD( # 4-A , &9A 4 #JL 4 &C%L @ C%( & 4&I: < 1MB8++ I@,; E'L - & 6JL 4 FKH !" # M#@C,&!d/ 2% 9/ E4$IBH4&<%2;,91s,#E,<B F#EA@#&,#9A,&a+9,;I@,;1%2U/$K42 KJ% !;2LE51=!"/012M<H4"6$8 )*]+<N , <% 2 $> M BFGH ;%L # F5@A , ;,91<,1$% & <BA , @ + !18Y,# 5H,G#H,C'2L 1/G,1MB8<11;<,1U>5H $% <,1FGOA+ Q$H ;' < ,1EJL 4 E,14-A , &C%L @ SD & + MB86#% < &,# + !" # U>H M 9A & 9%( & I78<11;<,121/ G ,1I@,; E'L - & Q$H!d/2%9/9,;;,91<,1 GBA,#%(#
062
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
0$-I@,; Gk#K42T4&I78<11;<,121/P%C0$- BJ4< 5,<<11;<,1+ MB8U>H21/G,15N,#@#G#DL&T4&21/P%C MB8`G1J4U>CH 1&I37@3g+/ MB8<N,G#$FGH;!' 18Y,#+)+I# C'LQ$H1%25,<<,1M9A&9%(& NJ% 3'51='59&'5;$&'/*(A; + + I78<11;<,121/ G ,1I@,; E'L - &;' @ ,184->A F # 9N,MG#A&I1,@B8+]+!j+0$-FGHE#/( E3$F#@%#C'+L ])+Y%#@,I;+ T4&!jC'LI12@,18I78<11;<,121/G,1I@,; E'L-&?DL& 6H#5,<9N,MG#A&9,;@,18E,;,1SQ$H1%2<,1M9A&9%(& FG;A4'<Q$HQ;A </#+ V+ @,189/$9A4<%#+ @H#M9A!18Y,# 5H , G#H , C'L 2 1/ G ,1MB8<11;<,1U>H 5% $ <,1FGOA G 1J 4 I78<11;<,121/P%C58 Gk# !"#4-A,&4JL# + + #4<5,<<,16H#5,<9N,MG#A&9,;@,18$%&<BA,@ TH , &9H # I78<11;<,121/ G ,1I@,; E'L - &6H # 5,< 9N,MG#A& ;JL4 ]*)+ 9,]*V+ B,44< ]*]+ T,$I3 7 E;2% 9/ < ,1 !" # I78<11;<,1 21/G,1I@,; E'L-&9,;TH42%&I%2#'(G1J49,; GB% < <7n: T 4&EN , #% < &,#I78<11;<,1 <N,<%2GB%<C1%6-:MB89B,$GB%<C1%6-:+ G1J4 9B,$GB%<C1%6-:MGA&!18 CWQC]*^+ !18Y,# 5H , G#H , C'L 2 1/ G ,1MB8<11;<,1 U>H 5% $ <,1FGOA G 1J 4 I78<11;<,121/ P% C ;';9/FGH6H#5,<9N,MG#A& + F#<17'CL'I78<11;<,121/G ,1I@,; E'L- &++ B,44<<A4#I12@,18<,1$N,1&9N,MG#A&+ I78o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
JOY OF ENGINEERING AND ACHIEVEMENT
MB8<11;<,1U>H 5% $ <,1FGOA M 9A & 9%( & 23 I IBC'L ;' I37E;2%9/I12SH@#TD(# !"#<11;<,121/G,1I@,; E'L - &+ MC#Z,-F#+ hi+ @% # + 6JL 4 FGH < 11;<,1 21/ G ,1I@,; E'L - &;' 5N , #@#I129,;C'L <N , G#$ 0$-23IIBC'L TH, !"#<11;<,121/G,1I@,; E'L-& 4->A F #9N , MG#A & Q$H 6' - & CA , @,18C'L -% & GBJ 4 4->A T4&<11;<,121/G,1I@,; E'L-&+?DL&9#MC# C% ='5E51:M4 ^*)+ FGH;<' ,1!18K3;4-A,&#H4-!jB8+^+I1%&( 9,;I@,; 5N, !"#MB8 G;,8E; ^*V+ F # < , 1 1' - < ! 1 8 K3 ; I 7 8 < 1 1 ; < , 1 21/G,1I@,; E'-L &FGH BT,#3<,1I78<11;<,1 21/ G ,1I@,; E'L - &+ 0$-IN , E%L & T4&!18Y,# I78<11;<,121/G,1I@,; E'L-&+ EA&G#%&EJ4+ #%$!18K3;Q!-%&<11;<,121/G,1I@,; E'L-&++ Q;A #H 4 -<@A , + e+ @% # <A 4 #<,1!18K3 ; @H # M9A F#<17'5N, !"#1'2$A@#58M5H&<,1#%$!18K3; 0$-@/ Y' 4JL # G1J 4 <N , G#$<,1!18K3 ; FGH 1k @ <@A,#%(#<kQ$H O% !;2LE51:M4 _*)+ F#<,1!18K3 ; I78<11;<,121/ G ,1 I@,; E'L-&589H4&;'<11;<,1 TH,1A@;!18K3;+ Q;A #H 4 -<@A , <DL & G#DL & T4&5N , #@#<11;<,1 21/ G ,1I@,; E'L - &C%( & G;$5D & 58I12 4&I:!18K3;+F#<17'C!'L 18Y,#I78<11;<,1++ 21/G,1I@,; E'L-&Q;A4->AF#C'L!18K3;G1J4Q;A E,;,1S!d/2%9/G#H,C'LQ$HFGH<11;<,121/G,1 I@,; E'-L &?D&L ;,!18K3; BJ4<<11;<,121/G,1 I@,; E'L-&I#G#DL& !"#!18Y,#F#C'L!18K3; _*V+ <,1@/ #/ 5 b% - K'( T ,$T4&C'L ! 18K3 ; FGH SJ 4 E' - & TH,&;,<+ _*]+ <11;<,121/G,1I@,; E'L-&I#G#DL&;' E'-& G#DL & F#<,1B&I8M##+ @H # M9A < 11;<,1 21/ G ,1I@,; E'L - &?DL & ;' EA @ #Q$H E' - F# 1JL 4 & F$Q;A;'E/CY/44< E'-&B&I8M##F# 1JL4&#%(#+ SH , I8M## E' - & CA , <% # FGH ! 18Y,#F#C'L + !18K3;44< E'-&TD(#4'< E'-&G#DL& !"# E'-& K'(T,$ _*^+ <,1B&;9/ T 4&I78<11;<,121/ G ,1 I@,; E'L - &4,5<18CN ,Q$H 0 $-Q;A 9H 4 &;' < ,1 !"#!$% &'(!%) *+,,-
063
+
!18K3 ; MB8;' U BE;2> 1 7: E;J 4 #G#DL & @A , Q$H ;' < ,1!18K3 ; B&;9/ M BH @ + ;JL 4 ;9/ #%( # a+ <11;<,121/G,1I@,; E'L-&Q$HB&B,-;J4KJL4 1%214&Q@HC3<I# P% 2A'$!"/,( + ! 1 8 Y , # 5H , G #H , C'L 2 1/ G , 1 M B 8 < 1 1 ; < , 1 U>H 5% $ <,1FGOA !" # U>H 6/ 5 ,17,<N , G#$IA , 942MC# <11;<,121/G,1I@,; E'L-&9,;C'L Gk#E;I@1+ MB8 1,-&,#FGHC'L!18K3;I78<11;<,121/P%C 6JL4C1,2
Q% *(A3?;'(,-.56"789:!" FGH G% @ G#H , G#A @ -&,#+ G1J 4 G#A @ -&,#MB8 [\ , - 2 1/ G , 1 C'L <'L - @ TH 4 & <% 2 & , # F # G #H , C'L T 4 & I78<11;<,121/ G ,1I@,; E'L - & !" # U>H 1% 2 U/ $ K42 0$-91&F#<,15%$CN,+ 1@21@;+ 91@5E42 4<E,1 TH4;>BMB81,-&,#FGHI78<11;<,121/G,1I@,; E'L-&+ 6JL4C1,2+6/5,17,+G1J4$N, #/#<,1 1JL4&9A4Q!
MB86/ 5 ,17,IA , 942MC# 6JL 4 #N , E#49A 4 C'L ! 18K3 ; + !18Y,# 5H,G#H,C'L21/G,1MB8<11;<,1U>H5%$<,1FGOA I78<11;<,121/PC% I1%&( C'+L _`V__e+ ;J4L @%#C'+L )^+6pW5/<,-#+ Q$H ;' < ,1 E#4KJL 4 23 I IBC'L ;' I3 7 E;2% 9/ G;,8E;EN , G1% 2 V__e+?DL&;'5N,#@#C%(&E/(#+e+CA,#$%&#'( <,1 !"#I78<11;<,1211P%CZ/2,BUA,#I78<11;<,1E11G,++
2<1=554='5"55>6,S8"'0
%
5'?:@.!%
$&'/*(A;
1. #,-<N,Y1+43C,1@3g/6&W:+
!18Y,#I78<11;<,1211P%CZ/2,B
2. #,-C/@,+5,1D<+
<11;<,1211P%CZ/2,B
3. #,&E,@<119/<,+9%#Y3@#/9-:+
<11;<,1211P%CZ/2,B
4. #,-KN,#,O+4%W#Y11;+
<11;<,1211P%CZ/2,B
5. #,&E,@5,13@117+E3TC%L@O,9/+
<11;<,1211P%CZ/2,B
6. #,&E,@#/E,KB+pCY/rC-;%-+
<11;<,1211P%CZ/2,B
7. #,-7%s6B+E/#T51+
<11;<,1211P%CZ/2,B
#,&E,@;%BB/<,+ 51/OC1%6-:+CN,G#H,C'L !"# BT,#3<,1I78<11;<,1211P%CZ/2,B + I78<11;<,1211P%CZ/2,B+ Q$H5%$CN,<R2%91T4& 6JL4FKH !"#;,91s,#F#<,1!d/2%9/&,#T4&I78<11;<,1++ I78<11;<,1211P% C Z/ 2 ,BTD( # + 6JL 4 1823 SD & T42 T9T4& 211P%CZ/2,B+ ?DL&58 E#4F#<,1!18K3;I78<11;<,121/P%C G#H , C'L + I@,;1% 2 U/ $ K42+ MB8M#@C,&F#<,1!d/ 2% 9/ C'L $' + I1%(&M1<T4&!j+V__f
064
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
#0 '(M='5"58>6,T
+ I78<11;<,121/ P% C Q$H M 9A & 9%( & + #,&E,@<119/ < ,+ 9%#Y3@#/9-:+ CN,G#H,C'L !"# BT,#3<,121/P%C+ 0$-FGH;'4N,#,5 G#H , C'L 9 ,;C'L <N , G#$Q@H F #6181,K2% O O% 9/ G B% < C1% 6 -: M B8 9B,$GB%<C1%6-:+ 6*W*+ V_]_+ M<HQT 6/L; 9/;+ lb2%2C'L+ ^m+ 6*W*+ V__)+ 6JL41%2U/$K42<,15%$!18K3;I78<11;<,1 21/PC% MB8<,1!18K3;U>SH 4J G3#H +1@;SD&KA@-$>MBFGH;<' ,1!d/29% / 9,;;9/$%&<BA,@+ $>MBMB8FGHIN ,M#8#N ,M<AI78<11;<,1 <'L - @<% 2 <R <7n: 9A , &a+ C'L 9H 4 &!d/ 2% 9/ + <,15% $ CN , MB8 <k21%<P,C8 2'-#<11;<,1+G#%&EJ4#%$!18K3;I78<11;<,1+ 1,-&,#<,1!18K3 ; I78<11;<,1MB81,-&,#!185N , !j T4&21/PC% +G#%&EJ4#%$!18K3;U>SH 4J G3#H +MB81,-&,#<,1!18K3; U>HSJ4G3H#+ 1,-&,#<,1;'EA@#Q$H E'-C'L1,-&,#0$-<11;<,1 G1J4U>H21/G,1+ MB8$N, #/#<,14JL#a+ 9,;C'LI78<11;<,1 <N,<%29B,$C3#!18<,W<N,G#$
JOY OF ENGINEERING AND ACHIEVEMENT
+ #,&E,@<119/ < ,+ 9% # Y3 @ #/ 9 -: + EN , 1k 5 <,1WD < P, 18$%2+ x u~ ux|+I7821/G,1Y31</5+5,<+t|}x| + + u |xw} + u}~+ u}u | |}x+ x ~w| + <13&B4#$4#+ !18 CW4%&<pP+ MB818$%2!1/OO,91'+ I7821/G,1Y31</5+ 5,<;G,@/ C -,B% - K' - &FG;A + #,&E,@<119/ < ,+ 9% # Y3 @ #/ 9 -: + UA,#<,1[ <421;GB%<E>91 BT,#3<,121/P%C+ MB8GB%<E>91+ 4JL#a+ C'L <'L-@TH4&+ C'L5%$0$-E;,I;EA& E1/;ES,2%#<11;<,1 21/ P% C QC-+ l m+ 0$-CN , G#H , C'L BT,#3 < ,121/ P% C 9%( & M9A !j+V__)+5#SD&! 5532%#
!"#!$% &'(!%) *+,,-
065
!"# $2557 %#'& ()!*)$+,,*+),-./01/),(2*",345*673+,,*+),$673+,,*+),45.8(98$:;3+),",345*'<=/ 9> ?5!/ $.@A!#B
#"$%&'ABDC E4/&C?
6 ("-9F 24 ("-9F 6 ("-9F 4 ("-9F 4 ("-9F 6/6 24/24
()$ ""' !"*"",-.@+ *!<
()$ ""' !"3""/!:;<$:::: =+ 2!")!(>!04*;.?
()$ ""' !"*"+ /!"(1!'536789
()$ ""' !"0"1234*
0H!;/?> 9
()$ ""' !"*"+ /!"
"!8%E74 ""' !"*"+ ,.-
()$ ""' !"*"+ ,.-
!"#"$%&'G?#6 :2557
-
1 ("-9F 1/1
1 !)8CDE,E!F5$$9D,8D )
",3G)!+,,*+),F,DH%@ ",3G)!0I/)?!/)%#F& ,D?),$:;3+,,*+),'<I/ .@ +), ?J(
2 !)8KD,8D 3$$2(9AK8)F);
,9A",3G)!+,,*+),F,DH%@
6/6
-
-
-
-
-
1/1
3 !)A!DIK,$$I,73IDLLM
+,,*+),F,DH%@
6/6
-
-
-
-
-
1/1
4 !)8*)E+EL$$N<O)8)*)
+,,*+),F,DH%@
5/6
-
-
-
-
-
1/1
5 !)8%D2)$$I),P+
+,,*+),F,DH%@ +,,*+),F,D?), +,,*+),Q,,?):;3KDI),7)6()L9F:%! +,,*+),F,,H@%RDF);
5/6
24/24
-
-
3/4
-
1/1
6 !)8E!,D*)O)$$*@LQPE9+3
+,,*+),F,DH%@
5/6
-
-
-
-
-
1/1
7 !)8SD23,@+HM$$KD!DI),*7M
+,,*+),9DQ,3 ",3G)!+,,*+),Q,,?):;3KDI),7)6()L9F:%!
5/6
-
-
-
-
-
1/1
8 !)8+T)G,$$95%),25UKD ASM
+,,*+),9DQ,3 ",3G)!+,,*+),F,D?),62)*0Q#8& A ",3G)!+,,*+),F,,H@%RDF); +,,*+),L,2IQ9F +,,*+),Q,,?):;3KDI),7)6()L9F:%!
6/6
-
6/6
4/4
4/4
-
1/1
9 !)8,D2EO$$!)A)E963
+,,*+),9DQ,3 ",3G)!+,,*+),Q,,?):;3KDI),7)6()L9F:%! +,,*+),L,2IQ9F
6/6
-
6/6
-
4/4
-
1/1
/'!85/0&:: %#",345*673+,,*+),F,DH%@ $*#*LD9!5 *L@ :D L(AL@AB $673+,,*+),F,,H@%RDF);$0*>9& 2@!%#$& 14 KVSID+)8!$2557 /'!85/0&:: OPA& !"# $2557 673+,,*+),F,,H@%RDF);8@A-*(-./I.@ +),",345*
066
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
!"#$%&'()*$&+,)-.+/01231 !"4 516178-9:;<=,;>?@AB"-C0!<,;1D6178->B%1E31F8-7!G=1HIIJK
(#;<2"=>!?<"+,!) 12L1 MNON1PQRSQPPTSQR1UNTVNTWMSNQ1 1HL1 A \]8>1^>"@&_-7B;B&! `1ab!58;1 1EL1 A \]8>1d5CA&C1A\<e\@-<14=@-a@=->`1ab!58;1 1XL1 UfSONgW1UNTVNTWMSNQ1 1IL1 A \]8>1&\h!@CB"-^>"1;B@7Ci&9@=-h`1ab!58;1D=+!#-K1 1cL1 jTL1fSTNQNkl1STSOW1 1JL1 mMWMP1mMTPPM1kWQn1PlTNVP1oSjSMPg1 1ZL1 -!"1>\7!1a! p51 1[L1 -!"1@aB" -8"11@C\q 8#h`5,C1 123L15&r>,-@9:;15 ,rq B&\G7\hBs9t-'C1
JOY OF ENGINEERING AND ACHIEVEMENT
-.*/)012 34.5/)*(67.899: &'()*)+,!)
!"#$%
2HXYZ33Y3331 X[YIHcY3HE1 EZYcEXY[331 EEYc33Y3331 2ZYX33Y3331 2IYJc2Y2EX1 23YEJZYcE[1 cYcHXYE331 cYHJEY2331 cY3XEY[cH1
HHLH[ ZLZI cL[3 cL33 ELH[ HLZ2 2LZI 2L2Z 2L2H 2L3Z
!"#!$% &'(!%) *+,,-
067
!"#!$%! &'()*"$+'(#%! ,-./ .#0(1%2 13"4 !""#$% 5.#% 6%! +(789:; <0! = >1$2)* &' ?1$>!/6 ())*
LG*./ !"#
!
!"#$%&% '("")$&$"!
@A!+0$B#
*&+,! -&&.-!&'&$/01 *&+,! 234!5 4!167'&$5!&"89+-&&.-!&:;430<-!&=5>?
@;?A.&A"89+'(B&167"0CD.?'&&9( $B$E!F+ $B$'(@@91672-67"FG4)C
E1FEB>$%! ,G.0D:$H$ ; <I12 !-%
CA!$>$0D:$2)* &'()*"$+'(# &3<*65-J$.!(F(#% H$'K ())*
""""""" #$%% $ &' """"""""""""(!)* """"""" #$+% $ &' """"""""""""(!)
**$***
CA!$>$0D:$ = &' ?+/+ ),
, ,
E1FEB>$%! ,G.0D:$H$ ; <I12 !-%
, ,
CA!$>$0D:$ = &' ?+/+ )*
, ,
, ,
, ,
(!
!"H$&$"+""F?)CH"!'!9 @;?A.&A"89+'(B&167"0CD.?'&&9( $B$E!F+ $B$'(@@91672-67"FG4)C
&)C*&+,! -&&.-!&'&$/01
""""""""#$ -'$*** """"""""""""*!-& """"""""#$ -'$*** """"""""""""*!-& , , , ,
&!
!C $3H&""3&I+3$BBJ @;?A.&A"89+'(B&167"0CD.?'&&9( $B$E!F+ $B$'(@@91672-67"FG4)C
-&&.-!&'&$/01
""""""""'$)'+$(*+ """"""""""""*!)+ """"""""'$)-+$(*+ """"""""""""*!)+ """""""""""""#*$*** , , , , , , , , , ,
'!
!".!%-%B""K;L!"!.! @;?A.&A"89+'(B&167"0CD.?'&&9( $B$E!F+ $B$'(@@91672-67"FG4)C
-&&.-!&'&$/01
#!
!"1$F!""3!&M-
-&&.-!&'&$/01 -&&.-!&'&$5!& -&&.-!&A&&5!89+H$3!&I!@?!B)'81 -&&.-!&'&&/01E$'!9
@;?A.&A"89+'(B&167"0CD.?'&&9( $B$E!F+ $B$'(@@91672-67"FG4)C %!
+!
!"% &$.!L!"".0BAM%)-+ @;?A.&A"89+'(B&167"0CD.?'&&9( $B$E!F+ $B$'(@@91672-67"FG4)C !"N$F+&0-/J""H$ $3!&.IJ
!"-O!,&"")(1!&F(P$HCNJ
-&&.-!&'&$/01
-&&.-!&)$A&+ *&+,! @I+-&&.-!&B&F3A)'
-&&.-!&)$A&+ *&+,! @I+-&&.-!&'&$5!&@F!.2A67"C *&+,! @I+-&&.-!&'&&/01E$'!9 -&&.-!&B&F3A)' -&&.-!&A&&5!89+H$3!&I!@?!B)'81
!"#!$% &'(!%) *+,,-
, , ,
, , ,
, , ,
""""""""%$%'%$%** """""""""""" ! - """"""""%$%('$&** """""""""""" ! ) """""""""""".(($&**/
, , ,
, , ,
"""""""" $ +*$*** """"""""""""*!( , , , , ,
, , ,
""""""""""" *'$%+* """"""""""""*!*( """"""""""" *'$%+* """"""""""""*!*( , ,
@;?A.&A"89+'(B&167"0CD.?'&&9( $B$E!F+ $B$'(@@91672-67"FG4)C
068
, , ,
"""""""" $ +*$*** """"""""""""*!( , ,
@;?A.&A"89+'(B&167"0CD.?'&&9( $B$E!F+ $B$'(@@91672-67"FG4)C )!
, , ,
, , ,
, ,
, ,
, ,
""""""""""" '$+** """"""""""""*!*( """"""""""" '$+** """"""""""""*!*(
, ,
, ,
, ,
, ,
, , , , , , , , ,
, ,
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$%! &'()*"$+'(#%! ,-./ .#0(1%2 13"4 !""#$% 5.#% 6%! +(789:; <0! = >1$2)* &' ?1$>!/6 ())*
LG*./E%D(
!
!"#$%&'"" !(!&)*+ *;7.-#."34+9<8#:=>"?(@-79##4< $8$A!%+ $8$9<**4:=>B,=>"%CD)(
#$!
!(.!%,##8$,!""8? 0<% $8"E
@A!+0$B#
!"B. 72E""A;#$.?8"E
!(.<#?8 !""8G1#8 +
!"%? H?"""#8$ 0#
#(!
!"I$BJ&8+""&*"!-+ *;7.-#."34+9<8#:=>"?(@-79##4< $8$A!%+ $8$9<**4:=>B,=>"%CD)( !",)9H?"""0 .<,!K6 E
CA!$>$0D:$2)* &'()*"$+'(# &3<*65-J$.!(F(#% H$'K ())*
""""""""(%)(*%$+# """"""""""""#!$# """"""""(%,$*%$+# """"""""""""#!$& """""""""""""($%$$$
' '
' ' ,##-,!#9#$2!# ,##-,!#9#$2!#*%!-B.=>"(
,##-,!#9#$2!# ,##-,!#9#$2!#*%!-B.=>"(
,##-,!#9#$2!# ,##-,!#9#$2!#*%!-B.=>"(
,##-,!#9#$2!# ,##-,!#9#$2!#*%!-B.=>"(
*;7.-#."34+9<8#:=>"?(@-79##4< $8$A!%+ $8$9<**4:=>B,=>"%CD)(
' '
' '
' '
' '
' '
' '
' '
' '
' '
' '
' '
""""""""(%)((% +* """"""""""""#!$# """"""""(%,-(% +* """"""""""""#!$& """""""""""""*$%$$$ """"""""&%*$$%$$$ """"""""""""$!($ """"""""&%*$$%$$$ """"""""""""$!($ ' ' ' '
' '
""""""""#%*$$%$$$ """"""""""""$!-& """"""""#%*$$%$$$ """"""""""""$!-&
'
' ' ,##-,!#9#$2!#
' '
'
""""""""#% ,(%,($ """"""""""""$!-( """"""""#% $$%,($ """"""""""""$!-+ """""""""""".,(%$$$/ ' '
*;7.-#."34+9<8#:=>"?(@-79##4< $8$A!%+ $8$9<**4:=>B,=>"%CD)( #+!
E1FEB>$%! ,G.0D:$H$ ; <I12 !-%
,##-,!#9#$2!# ,##-,!#9##F?:A$9!4 B4C! <,!#9#$F?:
*;7.-#."34+9<8#:=>"?(@-79##4< $8$A!%+ $8$9<**4:=>B,=>"%CD)( #-!
CA!$>$0D:$ = &' ?+/+ )*
"""""""""""#$$%$$$ """"""""""""$!$& """""""""""#$$%$$$ """"""""""""$!$&
*;7.-#."34+9<8#:=>"?(@-79##4< $8$A!%+ $8$9<**4:=>B,=>"%CD)( #&!
E1FEB>$%! ,G.0D:$H$ ; <I12 !-%
,##-,!#)$.#+ /#+0! *1+,##-,!#.##2!34+5$6!#1!*7!8)93: ,##-,!#8#%6.)9
*;7.-#."34+9<8#:=>"?(@-79##4< $8$A!%+ $8$9<**4:=>B,=>"%CD)( ##!
CA!$>$0D:$ = &' ?+/+ ),
' '
' '
' '
"""""""""""*-,%-)$ """"""""""""$!#( """""""""""*-,%-)$ """"""""""""$!#( ' ' ' ' ' ' ' '
' ' ' ' '
'
'
'
'
'
' '
' '
' '
' '
' '
""""""""""""$!&$ ' '
' ' '
#)!
!"";*$&)""&,B9 *;7.-#."34+9<8#:=>"?(@-79##4< $8$A!%+ $8$9<**4:=>B,=>"%CD)(
,##-,!#9#$2!#
""""""""#%#- %-* ' '
#,!
!(.!%5#6? :#E""B,F6<L!M#=&#6 E *;7.-#."34+9<8#:=>"?(@-79##4< $8$A!%+ $8$9<**4:=>B,=>"%CD)(
,##-,!#9#$2!#
""""""""#%&)&%$$$ """"""""""""$!&- """"""""#%-#&%$$$ """"""""""""$!&- """""""""""""($%$$$ ' ' ' ' ' ' ' ' ' '
JOY OF ENGINEERING AND ACHIEVEMENT
""""""""""""$!&$ """"""""#%#- %-* ' ' ' '
!"#!$% &'(!%) *+,,-
069
6&-1'3+7 1.
!"#$%&'(')*+,- (#./+01 (2 "! #$%&'( +*) -, .%+/(10 31 2%+."3412557 1.1 35"67&8/+$.4/(90 ': +6%.9;)+<7;3=>?$$4?"$&$)@/% A+$B'8&&<7;35"67&8/+'$>C!"'( 19': +C!"+.+9;)+/%;* +*) 16,300,000 !"#$%&#' ()*+,-./ -01 (23!(4(-5,(")56 *,(6 #10,055,000 !" 6&-1'3+7>$"/?&>9 22557 @A:12- 7&%0#B42/ -?&3,76 <
!"#$$%#&$ '$( )+*
1. (!BQ,'8'( M##C,8B, !
600,000.00
!"#$$%#&$ '$( ,&$ 700,000.00
!"#$$%#&$ -$./01'
!"#$$%#&$0$$,& !"#$$%#&$ 234"5( /&$!& '$( ,&$ .&%809: ;< 6&-1'3+7
!"#$$%#&$ '$$)*+=( '&4
6&-1'3+7$.%2 ('&+)
-
-
-
-
1,300,000.00
08&D!(78897!8 8,/") 08&D!(-2<!?(<!"OP 8,?!8#$%& 78897!8:;2< =) 7!8>?@A 2. (!B+,8B, &##4AC5+B! !%
500,000.00
-
-
-
-
-
500,000.00
500,000.00
-
-
-
-
-
500,000.00
500,000.00
-
-
-
-
-
500,000.00
-
-
-
-
1,100,000.00
-
-
-
-
500,000.00
8C508&D!(78897!8 8,/") 3. (!B9!'7'E&##F;G!B!9A! 78897!8 8,/") 4. (!5(,2+8##28H&2,EEI 78897!8 8,/") 5. (!B",4!##2!8J7
500,000.00
600,000.00
78897!8 8,/") #/ 78897!8 8,?!8 78897!8*88?!$%&+,2!8H! KA!EC $"(#/ 78897!8 88/)"L, !% 6. (!B'(8,9!G!##9)E*J'C7&
500,000.00
-
500,000.00
-
200,000.00
-
-
-
700,000.00
500,000.00
-
100,000.00
-
-
-
600,000.00
500,000.00
-
100,000.00
-
-
-
600,000.00
78897!8 8,/") 7. (!B.,4&8)7/I##+,(,2!89HI 78897!8C,*8&#/ 08&D!(78897!8 E842*C 8. (!B73!D8##CM"!84MN+, 5.I 78897!8C,*8&#/ 78897!8E842*C #/ 08&D!(78897!8 8,?!8K4!9-*OBP 5#/ 08&D!(78897!8 88/)"L, !%#/ 78897!8*88?!$%&+,2!8H! KA!EC $"( 9. (!B8,4'G##(!5!'CK& 78897!8C,*8&#/ 78897!8E842*C # $.%
070
6,300,000.00
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
?'7*05( 8@)2(/&#A4#&$BC&87( 7<&7D1<E9 22013) FG:12- !"#$%&'/ ()!*+ , 1. %$<X)A!A%(M33?)!<) $
!"#$$%#&$ '$( )+* 950,000.00
!"#$$%#&$ '$(,&$ 1,140,000.00
!"#$$%#&$ -$./01'
!"#$$%#&$0$$,& !"#$$%#&$ 234"5( /&$!& '$( ,&$ .&%809:;< 6&-1'3+7
!"#$$%#&$ '$$)*+=( '&4
2?'7*05( 8@)$.%2 ('&+)
-
-
-
-
2,090,000.00
!"#$%&!!'&$!(!)*,+ !"#$%-./$0%/$,1(2 !)0$!345" &!!'&$!67./ 8+ &$!90:; 2. %$<=)!<) "33>;?@=<$($5
800,000.00
-
-
-
-
-
800,000.00
800,000.00
-
-
-
-
-
800,000.00
800,000.00
-
-
-
-
-
800,000.00
-
-
-
-
1,765,000.00
-
-
-
-
800,000.00
!?@ !"#$%&!!'&$!(!)*,+ 3. %$<'$A&AB"33C7D$<$';$ &!!'&$!(!)*,+ 4. %$@%).=!33.!E".)BBF &!!'&$!(!)*,+ 5. %$<,)>$33.$!G&
800,000.00
965,000.00
&!!'&$!(!)*,+ 3/ &!!'&$!(!)0$! &!!'&$!H!!0$45"=).$!E$ I;$B?(4,%3/ &!!'&$!(!!*+,J)($5 6. %$<A%!)'$D$33'+BHGA?&"
800,000.00
-
800,000.00
-
300,000.00
-
-
-
1,100,000.00
800,000.00
-
150,000.00
-
-
-
950,000.00
800,000.00
-
150,000.00
-
-
-
950,000.00
&!!'&$!(!)*,+ 7. %$<K)>"!+&*F33=)%).$!'EF &!!'&$!?)H!"3/ !"#$%&!!'&$! B!>.H?( 8. %$<&L$#!33?M,$!>MN=) @KF &!!'&$!?)H!"3/ &!!'&$!B!>.H?(3/ !"#$%&!!'&$!(!)0$!I>$'-H1<2 @3/ !"#$%&!!'&$!(!!*+,J)($53/ &!!'&$!H!!0$45"=).$!E$ I;$B?(4,% 9. %$<!)>AD33%$@$A?I" &!!'&$!?)H!"3/ &!!'&$!B!>.H?(3 $.%
10,055,000.00
,%&;8,->2: I;$B?(4,%&!!'&$!45"&!!'&$!(!)0$!3- O %P B$'%A<($<45"05+&-&EQF,&21 !!'&$!(!)*,+ &L$0%83H;>%A(%+H=)-K*."-RS?2 'A<@&+(65&$!8L$-%)%@$%T?@ 1&;?%0%/$,1!2 $<@$%3 A8<IE"&!!'&$!H!!0$45"=).$!E$I;$B?(4,%3- O %67=/ .) $!E$&L$0%8I;$B?(4,%90/H",/?%UG@65&$! V)(B+ @) $%3(Performance Management) B5?8.%4%> V)(B+ T) ?@&5M'; #M!&).-81<>&+%3=!/?',+@W %L$-H%?05+&&$!345".L$%>%I;$B?(4,%,1-2 0'$"H'B;?IE"&!!'&$!(!)*,+ 3-=S?2 =).$!E$45"?%M'B+ )
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%) *+,,-
071
1.2
!"#$%&'()*%+ ,-.",/0(,*12$343-(456$(, 7%(89/&:;):1,;7<=(>.:83$$?@"?3"( 12"/3+4,#
43-(456$(
7%(89 ):1,;7<=(> .:83$$?@"?3"( %$.
78 *+""%
78 *+""-
"! #$#%"&
"! #$#'() #* +",!
"! #$#%"&
"! #$#'() #* +",!
9 9 9
40,228,800.00 8,927,300.00 1,557,444.44 ****************"#$%&'$"(()((
10 10 10
37,536,000.00 14,460,134.00 1,516,727.00 ****************"'$"&+$,-&)##
-."&'-/0*.
- ")*%+ ,-."," .A"<BC3/)*%+ ,-.",/4 :D"58%&,?/&:;)*4+ ?E<F G2+$3'"3?",43-(&:;%8H=E - 1E/2556 )*%+ ,-.",/10 (/I5+&?!/("<J-7,7(%K/$-,<- ", ("<'-G"/@",C?, ("39"G?,,#-?"/#8(LKG(-#<>, ("<49(!./> M*,9- #8 <>, ("39K,#8 ("/#NO,#(; ("<G8(=8</,#-(L,, ("<J-457#;/7 <"A!", ("<?$%=8<//L(9K?"H@(>, ("<@-#P:/9-'L-Q?8 5-/&:;/("<IP%* :<>/Q,E%"+ (I)! R
- 1E/2557 )*%+ ,-.",/9 (/I5+&?!/("<J-7,7(%K/$-,<- ", ("<'-G"/@",C?, ("39"G?,,#-?"/#8(LKG(-#<>, ("<49(!./> M*,9- #8 <>, ("39K,#8 ("/#NO,#(; ("<G8(=8</,#-(L,, ("<J-457#;/7 <"A!", ("<?$%=8<//L(9K?"H@(>/&:;/("<@-#P:/9-'L-Q?8 5-/R
+ 12"/3+4,#356# 2.1 43-(9A'%?$3'K(9D",$34:E<S 3=EP %,-T'8 U/I5+9A'%43-(?$3'K(9D",$34:E<S 3=EP0.+&?!)%*+ ,-.",2$3%,-T'8 U/583(ES 12"/3+4,# 43-(9A'%?$3'K(9D",$34:E<S 3=EP
%$.
78 *+""% "! #$#%"&
9
78 *+""-
"! #$#'() #* +",!
"! #$#%"&
"! #$#'() #* +",!
3,277,880.00 ******************'$+%%$,,#)##
10
2,955,348.00 ******************+$/""$'(,)##
-."&'-/0*.
- )*%+ ,-.",/.A"<BC3/)*%+ ,-.",/4 :D"58%&,?/&:;)*4+ ?E<F G2+$3'"3?",43-(&:;%8H=E - 1E/2556 )*%+ ,-.",/10 (/I5+&?!/("<J-7,7(%K/$-,<- ", ("<'-G"/@",C?, ("39"G?,,#-?"/#8(LKG(-#<>, ("<49(!./> M*,9- #8 <>, ("39K,#8 ("/#NO,#(; ("<G8(=8</,#-(L,, ("<J-457#;/7 <"A!", ("<?$%=8<//L(9K?"H@(>, ("<@-#P:/9-'L-Q?8 5-/&:;/("<IP%* :<>/Q,E%"+ (I)! R
- 1E/2557 )*%+ ,-.",/9 (/I5+&?!/("<J-7,7(%K/$-,<- ", ("<'-G"/@",C?, ("39"G?,,#-?"/#8(LKG(-#<>, ("<49(!./> M*,9- #8 <>, ("39K,#8 ("/#NO,#(; ("<G8(=8</,#-(L,, ("<J-457#;/7 <"A!", ("<?$%=8<//L(9K?"H@(>/&:;/("<@-#P:/9-'L-Q?8 5-/R
072
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
!"#$%&'() !"#$%&'()*+#,-!./0/!.123!4/567!8/9:3;<=!4>6?!@>:?!A..48BC!*D$EF'G)HI'J*"KL)"#$%&'!MN?O!PQR)*S#KLT! U#-?!HVW'XR(SQ'G)HI'J*"KL)(SFYZ-W!..48B!*D$EFZV[)HR\*I$F!O]!PQR)*S#KLT!U#-?!*D$EFZV[)*^_)!`a?O!PQR)*S#KLT! U#-?
*+,-$." !"#$%&'! PW)RFU&TTR\Y-U#QRW*D,E-*D$EF\XRP&W\R#bP$cd#WWR)! ^edc#*+FK! H&WSf&I#JL-W! FgP+YRd+#W\R#^#JFRh! Nii!PQR)"R'!jVEW"#$%&'#&"b$Ik-"()\R#--\l""f$mf\##F!H&Ij,[--G^\#hnf&UIG\Y-U#QRW!lPJ\R#\Y-U#QRW
&'/$/' !"#$%&'! lPJ! ./0/! .123! o2920=32! p:;?! q1:?! A"#$%&'LY-LC! rIQ#&"S)&WU,-lHQW+fRFHXR)W! UXRS#&"d+#W\R# \Y-U#QRWd#WWR)^edc#*+FK! ()^#J*'mFR*P*jKL!FgP+YRd+#W\R#FR\\fYR!sOi!PQR)*S#KLT!U#-?!jVEW"#$%&'#&"b$Ik-" ()\R#--\l""f$mf\##F!H&Ij,[--G^\#hnf&UIG\Y-U#QRW!\Y-U#QRW!lPJ'IU-"\R#*I$)*+#,E-W
0!1$." !"#$%&'! rIQ#&"("#&"#-W#J""\R#"#$SR#H&I\R#IQR)U$EWlfIPQ-F! FRc#tR)! upv! MsiiMwNiis! lPJ! ("#&"#-W #J""\R#"#$SR#WR)+GhxRDFRc#tR)!upv!aiiM!w!Niiy!--\dIL!"#$%'& !-$)*c-#n*'+!-$)I&U'#K!l-)In!*j-#n'z$ *e +k&)E ! *j-#nf$U*jU!A^#J*'mr'LC!HXR\&I
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%) *+,,-
073
!" $/0123 !"&*+,*-. !"#%$ &'()*+,-')./0%12)+!34564$-3.7-8/ +/)+!'*+9-"-10!)":;9<=>?9@!"A@!(+6BC+A@+A+!DE-)+! 34564$-E-!7/7/+C;'$6-FG 45"6 75"8!,59!.'4:;<=/ "'%->?@8 >"6 A-1B4CD .EF8?@8 >"6 !"BIntegrated Regional EPC Contractor) &$'4:6< 75-%5+). !"?@8 >"6 !"?.#+ !,C"'41H
EPC
?."'%->(F76(!GB
E-)+!E,( !")+!3 ;Integrated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egional EPC Contractor) ST:2-(0'*B,-. /C5&2()&@/)J#$U7A=B343!=57)<0E2M A07<6,000 15,000<=")/%)><P200-500<=")/J1==)&IG$&EQR< /1(*)(/E/M <%&'O>E @F)FQ)/()&J+),/'/2)/L-FE207)2-&B,>D,K9:1#$"5&1%5=?32)/#/&BJE%N!3N' )5< ST:2F?>VD)G0&IJ2E (=7 )6/1(*)(*B,K':3 Q)/=!( 5") #$"( E% %&'OE> A="6 FE2 876 F=J56)3,G4:F2*)(()&KT:2K'2 C5&2()&(71G&")2#/-&B,>D,K4F21F7)2,J4F6<,K9:1G/E%G/? /(=F? >VIJ2E (=7)6<%&'OE>LJ"*JE 0E2M %&'OE>F71F#/ -&B,>D,-" )$3)FG+ ) 5EU <,87 / <-&B,>D,64F J/)3<-&B,>D,34F /37 ) &I< -&B,>D3),=,S4F <A=B-&B,>D G$&EQ1,3&'() ()&F(&BJE%()&#$"%&'()&,@")G!7()&,-./<Regional EPC Contractor *T2,-. /()&@F)FQ)/=!(5")#$"A(7 %&'O>E >+)#$"%&'O>E 34>)2,=91(>4:*B&E%2)/C5&2()&(71G&")2LJ"$=)($=)F3)(@TM/</1(*)(/4M<FE2G72 =#$" %&'OE> 345 6)3LJ" , -&4F %#/,&9:1 2@120" / >? / ()&J+ ) ,/' / 2)/<G)3)&;%&'$ )&C5&2()&J" 6 F0" / >? / >4:3 4 -&BG'>V'N)KG!2G?J< Economy of Scale)
074
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
!"#$%&'"(#')*$+,- $./01)2'*34$)5/6 !"#%$ &'()*+,%-.&/)0!!$)#010/*2)3(045"675(8+)0!9:;6< ;0/%=6> 3= ,?@0AB*C !")0!5(0/8"D8)!!6 %=6> 6= 0E!10/7B*C&F( !")0!F*$;)0!G0+B):3:32 0( <+:0;E:<4/H><;74AH><9!(0;3806AI;A<&J92;9,5&F()$ *2)3(07B*C *2)3(0&F(3806K8(80;&J&/)0!)*$ 60&'( !")0!)$ !"#%$ <=)7L5+)*,:6*2)3(0 !"#%$ 7K5(B):7)*,:6 !"#%$ 7ME%N7 $ Q.7 6JNK%+4OR/%!$*436=7 Bayer )*,:6 !"#$%7SCG Chemical JNK 4<<!.K%+7 JNK%+<0O0P=436=@? Polyurethanes (Shanghai) Co., Ltd. (M!C4%DJ=/S7Shin Etsu Engineering Co., Ltd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lant Design System), PDMS (Plant Design Management System) 4AH><':8+&F( !"#% $ <<)B K5(<+:0;Y2)E(<;60)GI/U 7*53806X"5A*057B*C9060!YE!8J9< )0!<<)B J0)@0AJV0*<;L!;;0/&/ !2MB 73 6"E4" 96H</J!";7G?C%=L> M!B)!64F*:0/=U +$;9060!Y':8+&F(A/$);0/G<;*2)3(0M\" E$ ;" 0/B*CO:<6 0V !,;7 Operation and Maintenance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
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%) *+,,-
075
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ngineering Design) "%*L-5O>'P L-5=%6#*>G'(L-"*2 A';7"*CE: Procurement of Machinery and Equipment) 2 A"%*"3'/*$%(?*((%9';</%="**0: Construction) 2 $I)*+,. - J-( /%0%*1*-)(%9.@G678 9(%9)*+=%*L-5"%*6F@J('J3%(65@JIK95$%9&'("%*K=$)*+"%*.%(I+NI"**02 A)*+=%* L-5"%*?#*("%*"3'/*$%(: EPCm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`a "%*#$%? ".@JG (- #('3'92':Ua:#I%067894745$.<G@ %56(+9LAM-9MI9 69>G'(L%"5; '-<*%5'"6)@JP K97*A6.N.@/G S%#-^.%(6N*,T"+LLA/!(&Q9P K9b3I(6I %<3%(H:"-9:Xa:M "*A.)<3' ()"%*# (- 2 A"%*#$%&'(7*A6.NM!M$ <+ 9SP%0-9:_a:#I%06/@JG (6N*,T"+L7*A6.NK96&<J;? *7:2 A^@G7;39LAO) 6O%=*>'7*A/)B%IA6(+9c>5'J3%(J%I9%9 ';7.%99SP%0-9J-(#( 9$ < %5K97@:UVVW:<3'69>G'(L%"7@:UVVd:OQ(G 67897L- L-J= "- .@.G S%K=$*%#%9SP%0-9'J!3 K9b3I(&% (:.-(P 9@P: /S%9-"(%9/%*/96.N5$%9F -((%9&'(/=*-T[:(The U.S. Energy Information Administration : EIA)7*A60+9';7.%99SP%0-9? "7@:UVVW:'J!3.:G@ eUYW: %$ 9)%*E6* <3'I-9:K9&CA.@'G ;7/(#E0 @
076
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
!"#$%&'()*&+,$ -.$!/0 !+12 3 45-&67839 :$-;2 4 -<=>2 #$?$@@+92 #&Non-OPEC&-A $678;=!5BC&DEFG?H#I 39 :$--AJ$#5-<- I&(KKL&!$4&MN)'&+,$-.$!/0!+12345-&O8$8154&P% YOY 382$GQ!@R1$#-5.0 R -351!$:ISF H+3 154+G0#T3F 0:I8.@5. I&(KKP&:I#F @I $!01".61&M*%YOY ;A$-5@G$-U%H@!!#@$!V5W-$@$!0X!YB@"?Z+H;5GU#Z=2GS$1"&U$742$0X!YB@"?Q:8<- I &(KKL& U$742$?HO8$8154!,38+H&*)K&–&N)K&678#I ?5 ?58;-5.;-9 -#$?$@&M[&@$! !5.1547IO-JE O3G\$U@$!;2G33@ 1$#Z-46-, #@$!]TJ -154O3G0X!YB@"?Z+H !"#$%@$!U,$6+@&<- I &(KKL&\$4H0X!YB@"?6+@#IZ -46-, # !5.1547IO-JE &678=-2 48G$-12$G^&U$742$?HO8$8154!,38+H&*)K&–&N)_&DEFG?H:A$<=,@$!U,$6+@O8$81547IO-JE Z+H0 R - ?5 ?58;-5.;-9 -123@$!]TJ -154O3G@$!;2G33@Z+H0X!YB@"?Q:8<-\$V!4#&([&@$!+7+GO3G!$U$ -AJ $#5- <-1+$76+@&?HS2 4 80V"F#3A$-$?DTJ3 O3G !HS$S-Z+H`9!@"? &Z+H+7Z!G@775- 7,$-0G"-0], 3DEFG?H ;-5.;-9-<=,;$#$!a7A$0-"--68.$8@$!0G"-b23-U+$8Q7,382$G1230-TF3G&*[&@$!]TJ-154O3G\$U@$!:23G0:I8F 4 Z+H@$!+G:9-&b+@!H:.?$@;a$-@$!%/@$!0#T3G<- !H0:X123@$!:23G0:I8F 4Z+H@$!+G:9-\$U03@S-0!"#F +7+G1$#+A$75.15GJ Z12S24GU!EGF =+5GO3G I &(KKP&Z+H@$!]TJ -154O3G@$!:23G0:IF84Z+H@$!+G:9-0!"#F #IU4$# S570?-#$@OE-J &0 R-1,39 1 ;$=@!!# " 6 1!0U#I< - I & (KKL&U$742 $ ?H#I@ $!O8$8154 0V"F# OEJ- &1$#@$!O8$8154 O3G 39 1 ;$=@!!#12 3 0-TF3 G&Z+H39 1 ;$=@!!# +$8:$G&Q7,Z@2 & 39 1 ;$=@!!#V+$;1"@&:5GJ -IJ & 0;aI8!\$V:$G @$!0#T3G\$8<- !H0:X?H0 R- ?5 ?58;A$U5>:I3F 91;$=@!!#1,3G1"71$#382$G<@+,S7" Z-4:$G@$!?57:A$Zb-V5W-$@A$+5G@$!b+"1 Q]], $O3G !H0:XQ:8&V)X)&(KKL&–&(KPL&(PDP 2015) Q7,#@I $! !5.<=,;37U+,3G@5.-68.$8O3G!5B.$+&Z+H;37U+,3G@5.Zb-V5W-$V+5GG$-:7Z:-Z+H V+5GG$-:$G0+T3@&(K% <-&M_& I&(Alternative Energy Development Plan : AEDP 2012 – 2021) Z+H Zb-3-9 !@5 Y/V+5GG$-&(_& I&cV)X)&(KKN&–&(KP*[&(Energy Efficiency Development Plan : EEDP 20 I)& ?$@Z-46-,#@$!O8$8154:$G0X!YB@"?O3GQ:8&Z+HZb-@$!+G:9-6U!G;!,$GVT-J B$-1$#-68.$8!5B.$+& !4#:5GJ @$!01!I8#@$!0O,$;d2 !HS$U#0X!YB@"?3$0DI8- (ASEN Economic Community : AEC) <- I&(KKL& ?H;2Gb+123@$!<S,Q]],$O3G !H0:XQ:8678!4#& !"#$%&'$()*+,*-. ?$@@$!:IF.!"Y:5 8@!H75.@$!<=,.!"@$!0O,$;d2@$!0 R -&Regional EPC Contractor DEFG#5@?H0 R 6U!G@$!:IF##I d+U2$;dGZ+H38d2<-12$G !H0:X1$#:IFQ7,@+2$4Q4,Z+,4O,$G1,-&;\$VZ47+,3#:$G`9!@"?Z+H@$! ZO2GO5-O3G.!"Y:5 ?EG#I@$!0 +IF8-Z +GQ 382$G#I-58;A$U5>&Z+H !H@3.@5.<-\$4H ?5 ?9.-5 &DEFG0X!YB@"?
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%) *+,,-
077
!"#$%&#'()*+(,%-./*0$,1!2341*, *53+2!&0$,6&%"78!%9:*)*;7<&:0=7>"883*?/73$*@AB% &7ACDE *F!9?7)>5 82G$H"7816(%6$*CIJ3K 6B*/ &#(7%L8"E073@H8JM9$ IH,(7CA576&% <8%"78#$%<%)>5<,73=?7<$N0(&<:O;7I6&%%7*@0!&GA*<,73 *( 7C+.K&P.&1!2<,73=7378P6&%@EPC Contractors CDE *DA$ A$#94=K ?7<$N94=K :G@1!2*&"A7"*4/@H8JM9$ #$%IH,(7 H8JM$9<'(1 6(%@CDE *F'5D82"&H"78@EPC Contractors A7"0( 7%D82C9Q6*7G)>N( 87#CGJ394KH8JM$9 34 <,73<:*5 C<#CDE *&#(7%G4@AB%9?7)>5H8JM9$ #$%346&5 LG5CD84#H)*>!7#D82"78@&79JC+(*@"78C*5*"789?7R:8"JA)* "!:(3D82C9QD82+7<3CQ8MS"JA&7CT4#*@TBK%H8JM9$ 1!2H8JM9$ #(&#34D82=H"78OU1!2<,73+?7*7N)*I.*/ 94K ='%@>8.& @"7834C <8.&6(7#97%R: 8"JA94K16E%1"8(%@L3(,(7A2CDE * F'5P.& >:5*87#)>N( @C+(*@ Toyo Engineering $ 8$HC>37"(&=857%6*7G Corporation, Chiyoda Corporation 1!2@H3AV@&J07C!4#*L9# TB%K !5,*CDE *H8JM9 )>N(6&%D82C9QL9#1!2D82C9QN4KD(:*@1!2I$*R3J08)*"788(,3G?7C*J*R:8"JA6&%H8JM$9 @C+(*@Mitsubishi Corporation@D82C9QN4DK *:( ,@Korea Midland Power Co., Ltd. D82C9QC"7>!4)05@CDE*05* @
078
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
!"#$"%&#"&'()%*+#,"- .0/ 123,"- .0/ '4+' 1,4#5&672846+85$&97""6 :;#<)=> ?@AAA – @AAB C=D ;)/#;>E 9;4 <' : 2%&;,&0 0"1$ (123%40&& ! "#$%&'(
-5%678 70%&9-) )'*."#"+-,-+ &.$/ .%$01 23 Toyo-Vietnam Corporation Co.,Ltd. Toyo Thai M alaysia Sdn. Bhd. ToyoThai-USA Corporation
./ 2555 "! #$%
./ 2556 &'()"*
"! #$%
./ 2557 &'()"*
"! #$%
&'()"*
8,134.66
71.62
6,320.25
35.38
3,655.71
18.68
274.23
2.41
1,638.63
9.17
1,638.94
8.37
1,424.26
12.54
497.88
2.79
1,428.35
7.30
63.58
0.56
1,581.66
8.85
2,051.52
10.48
4.14
0.02
-
-
)*4."45).5 3!6 %.73%3.$/+ (
-
$6'$:+,C?*:44:$4=.>$?:9.E #>:A4$$' ! "#$%&'(
9,896.73
87.13
10,042.56
56.21
8,774.52
44.82
)'*."#"+-,-+ &.$/ .%$01 23
606.17
5.34
1,498.86
8.39
4,031.48
20.59
Toyo Thai M alaysia Sdn. Bhd.
88.07
0.78
257.89
1.44
-
0.00
)*4."45).5 3!6 %.73%3.$/+ (
-
-
1,309.07
6.69
85199:3
$6'$:+,C?*:44:$4=.>$?:9.E #>:A4$$'85199:3 .;23<
-
-
694.24
6.11
1,756.75
9.83
5,340.55
27.28
)'*."#"+-,-+ &.$/ .%$01 23
649.31
5.72
3,536.16
19.79
3,438.76
17.57
Toyo-Vietnam Corporation Co.,Ltd.
118.02
1.04
-
-
-
767.33
6.76
3,536.16
19.79
3,438.76
17.57
-
-
2,456.81
-
1,781.81
9.10
-
-
2,456.81
13.75
1,781.81
9.10
-
-
72.80
0.41
238.78
1.22
-
-
72.80
0.41
238.78
1.22
11,358.30
100.00
17,865.08
100.00
19,575.26
109.57
$6'$:+,C?*:44:$4=.>$?:9.E #>:A4$$'.;23< 4=.>$?:9#:'>1@@: >1' -:3
-
Toyo Thai Power M yanmar Co.,Ltd.
$6'$:+,C?*:44:$4=.>$?:9#:'>1@@:>1' -:3 )$!A:$9:3"$9,BB?: Toyo Thai Power M yanmar
-
Co.,Ltd.
$6'$:+,C?*:44:$D5!#,BB?: &+ &%),-'
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%) *+,,-
079
!"#$$%& '(&)*+*,- %+./0 1-2,3&45 6%& 782-*0 K0.3$G63FF"H@G$5.3@03945.D@0I9I936 /01[";9"$%K6$23 LA73K;3$<: 0 71 ? ;^H @ A7B2@C A ?37730B'Z @ ,-. 0" / B2F3$3@ 9!:;*&* !"#$%!&'( )**+ ,-./0123045.63$789:;<=730>939<:071? @A7B2@CA?37730D2./017305.3@730AA7%//61E6700F ?"523 BG0CHA$?"70%8IA:'70J= %8I7&AK0.3$L0$$3@A:!K32700F %//G0/6$?0 MNOPQRSTPQU VWXY A"@B'Z@<:071?'7!1 >A$/01["; \]H$F^G63FB_^H96_3`F3B7CA/ +a '( %8I5.69 Kb3@I;3$730B$1@;^H%>c$%70&$>A$/01["; 7A'07"/B'Z@730
7&AK0.3$'0IBh; VWX 78&36GCA 237B?.3>A$LG0$730D5 F^ G 63F'0IK$G= ;^H ? ID2. / 01 [" ; 0& 6 F;: @ %8ILG0$730@"# @ K3F30bK0. 3 $,8!A/%;@;^H 5^ ? 377308$;: @ /01 [" ; 7c F^ G63Fk0. A F;^H ? Ik1 ? 30J37308$;: @ D@LG0$730B28& 3 @"# @ 5.69 ;"#$@^# BkCHAB'Z@730D_.E"79h3k%8IK1@;0"k9=>A$/01["; D2.B715'0IL9_@=K-$K:5 K3F30b%K5$45.!3F%,@,"$!&A4'@^#
%& )"<*=!> :?@782-*A*B9 8%& k"@<F1!0
ddXe D2./01730 NOPQRSTPQU VWX
B$1@'i@,8
B$1@'i@,8
LG0$7300&6& F;:@ MB?.3>A$LG0$730Y
LG0$730L0$4ffg3%8I LG0$730K3<30J'LhGACH@ L
?j32@&39
8-7G.3
080
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
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
!"#$%&'()*"++",,-.)"/0 ,)+",1&'#&2/"345671)- 8 4/9:;<7")=,;$1>?"
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
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%) *+,,-
081
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
#!
!"#$%&'()*"++",%7)#@.0 ,)+",45A:B+ A"C#71/- <"#+D"5/3?"
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
082
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
!
!"#$%&'()*+",-./0"123$42&'(,$)5 ,/0"/6")407$89 "
A/4!37B!E/#/2(314!30 1-3#O", P$/,/S $K./"G/0 12(314!3 !66=E<?8R9 /J<?1:<6!4"8:9 7.<3=*!H 4!3:).:7.6!4()!*C,/C)/0 1(;!E1#/$E'F9 E<V /4!3?7()!*E%89R16!4()!*C,/C)/0 1 K, 3!J?4E<?89R/ E1#/K3!K;!1<3=E"M$-3#O", P:7.A@.)># 48 !3-3#5!3()!*E%8R9 1J--$!"#$%"& '()*($53F $E0.!"B!%,LL!+FS 0!R E1#/K3!K;!1<3=E"M?;)15/.! +,$%%(-./ 01%2"%) ,1-#%".#34 4,-%N!-,/4!3E1#/E'F9 <. 14,/()!*E%8R9 1 7,14?;!)$
#!
!"#$%&'()*+",3"0$)5 ,: $;6,: !"#$%&'()*+",0"(<*+="33"006!#2)8>,?: !"#$%&'()8&'$3&'(!@+-) 3.A !"#B-$B&()@-)$)5 ,8>,: !"#$%&'()8&'$3&'(!@+-)3.A !"#<#61,6 ,-,@-)$)5 ,8>,: 127: !"# $%&'()8&'$3&'(!@+-)3.A4.CD"3"0@"*%E"B 26-)
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
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%) *+,,-
083
084
!"#!$% &'(!%)*+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%)*+,,-
085
086
!"#!$% &'(!%)*+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%)*+,,-
087
088
!"#!$% &'(!%)*+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%)*+,,-
089
090
!"#!$% &'(!%)*+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%)*+,,-
091
092
!"#!$% &'(!%)*+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%)*+,,-
093
094
!"#!$% &'(!%)*+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%)*+,,-
095
096
!"#!$% &'(!%)*+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%)*+,,-
097
098
!"#!$% &'(!%)*+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%)*+,,-
099
100
!"#!$% &'(!%)*+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%)*+,,-
101
102
!"#!$% &'(!%)*+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%)*+,,-
103
104
!"#!$% &'(!%)*+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%)*+,,-
105
106
!"#!$% &'(!%)*+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%)*+,,-
107
108
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
!"#"$%!"&'!()*+, -. (Risk Management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
!"&'#&/( !"01$#23$.!45(Control Activities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
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
109
! "#$% & '()'*+%,-'*)./ ")'* (Information & Communication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onitoring Activities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
110
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
-3='I74"-%!d',?<C=2E\I!8-d''ba.8$973!9.3-2"e27!!(I1!+73!'
!" #$ %&' ()* + ,-. - /0. 123(45 3 1$67$ 73!8$ 973!9. 3 :3;<2:-3($=' 123(>?:9@$=' A?B4"+C A29?.:(/0.,>D-E>F3( 7G0(3='H.:7530-9H:+I1!+73!A?B4:91?.:+7$ (3F!J3437?'KLMNON'PQRRPS'TRRUV'WXN'PQRRPS'TRPP'A?B' XNL'PYRRPS'TRRYZ'-:7837-<[=$+>!$ >!)+'\$]-3'!B 73! !"03!8$973!&' :=*3+F*:,-^C:+' 8_+E9.23+7!: A-2%3+73! >`" F$ +" 3-4530!$ 0-*2=+3-:3;<2:-3($=&',\^:C /0.(-$C /8E9.23* I1!+73!%<C:=a*/-123(!$ b"9;: H:+ !"#$%&' (<73!>c:+7$b?7!B% 9.3-:3;<2:-3($=' 123(>?:9@$=A?B4"C+A29?.:(' %$[+F*:%!$\=37! )11?' %!$\=d4"-I1!+73!' ba.,7<C=2H.:+A?B ;)(;-/7?.,1<=+:=*3+,0(3B4('4:91?.:+7$ (3F!73!>c:+7$b?7!B% F*:4"+C A29?.:(F3(!3=+3-73!e_7#3b?7!B% F*:
JOY OF ENGINEERING AND ACHIEVEMENT
4"+C A29?.:('KfXOZ'0!^:H.:7530-9%<C +$ 1$ /;.'\!.:(%$+[ ,H.3E> (<4*2-!*2(7$ 7"87!!(,\^C:4$+1(A?B43g3!h>!BI=;-dH:+ ;)(;-F3(I:734'
' I1!+4!. 3 +73! !" 0 3!+3-9. 3 -:3;< 2 :-3($ = 123(>?:9@$='A?B4"C+A29?.:( ' ,\^C : /0. b ?73!95 3 ,-" - +3-9. 3 -:3;< 2 :-3($ = ' 123( >?:9@$=' A?B4"C+A29?.:(' >!B4 b?453,!i8F3(-I= 3= %<C !" #$ % &' E9. > !B73eE2. ' 8_ + E9. 75 3 0-9I1!+4!. 3 + 73! !" 0 3!+3-9. 3 -:3;< 2 :-3($ = '123(>?:9@$ = 'A?B 4"C+A29?.:('9$+-<[''
!"#!$% &'(!%) *+,,-
111
@3\'A49+Ab-b$+73! !"03!8$973!9.3-:3;<2:-3($='123(>?:9@$='A?B4"C+A29?.:('4530!$ 73!953,-"-+3-I1!+73!
73! !" 0 3!+3-9. 3 -:3;< 2 :-3($ = ' 123( >?:9@$='A?B4"C+A29?.:(
' ' ' !"#$%' IFI=jE%=' 1:!d>:,!;$C-' 8537$9' K(03;-Z ' E9. 2 3+A-2%3+73! !" 0 3!+3-9. 3 -:3;< 2 :-3($ =' ' 123(>?:9@$ = ' A?B4"C + A29?. : (' 45 3 0!$ 73!95 3,-" 3 ,-" ' I1!+73!7* : 4!. 3 +H:+ !"#$ % &' K9$ + Ab-@3\Z' I9=8$ 9=8$9 ' 7?)*(73! !"03!8$973!9$+-<['' ' ' Pk'73!F!28>!B,("-ba.!$ ,0(3;*2+ '''''' ' Tk'+3->!B853%<CF.:+953,-"-73!,>D->!B853%)72$-' ' E9.A7*' ' ' ' TkP' 73! !"03!8$973!9.3-:3;<2:-3($= '''''' ' ' ' ' 123(>?:9@$=' ' ' ' ' ' j'73!F!284: 123(>?:9@$=' ' @3\''A49+73!42(/4* ' ' ' ' ' /-\^[-%<C>`" $F"+3-'>!B8532$:)>7!hd>c:+7$-:$-'''''' F!3= 4530!$ 73!>`" $F'"+3' ' ' ' j'73!F!284: 123(>?:9@$= ' ' ' ' ' H:+,1!^C:+8$7!'A?B:)>7!hdEllc3' /-I1!+73! '
112
!"#!$% &'(!%) *+,,-
' ' ' j'!B 73!H::-)63F%53+3-'' ' TkT' 73! !"03!8$973!9.3-4"C+A29?.:(' ' ' ' j'73!12 1) ( >!B,9i - b?7!B% 9. 3 ' ' ' ' 4"+C A29?.:( ' ' ' j'73!8$973!H:+,4<=A?BH=B ' ' ' j'73!12 1)(73!/;.43!,1(< ' Tkm' 73!no7: !('' ' ' ' j'73!: !(123(>?:9@$=H$[-\^[-J3-/0.' ' ' ' ' 7$ \-$ 7 +3-7* : -,!"C ( ,H. 3 %5 3 +3-/' ' ' ' I1!+73!'' ' ' ' j'73!: !(\" , e#,p\3B9. 3 -' ,;* -' ' ' ' ' 73!: !(73!%5 3 +3-/-%<C :$ :373e ' ' ' ' 73!%5 3 +3- -%<C4a+',>D-F.-''''' ' ' ' j'73!4^C : 43!123(,>D - :$ - F!3=H:+ ' ' ' ' 43!,1(<' mk'+3-F: 4-:+F*:4q3-73!hdp)7,p"-'
JOY OF ENGINEERING AND ACHIEVEMENT
!"#$%' IFI=jE%=' 1:!d>:,!;$C-' 8537$9' K(03;-Z 2$-%<'C Pm'4"+031('TssU'E9.(: 0(3=/0.1hB7!!(73! !"03!' I9=(F"%<C>!B;)(1hB7!!(73! !"#$%1!$[+%<C' YrTssU' ,(^C: K|}~ '} ' ~ ~ Z' _C+>!B7: 9.2=
Pk'-3='t"I!I- )'':"!"=3' ' Tk'-3='%"23''83!_7' ' '' ' ' mk'-3=',4-*0d''@a!"4$F=d' ' '' ' ' Yk'-3+432'7!!F"73'F$-g)2-"F=d' ' '' ' ' sk'-3+'4)!$F-3'Fvh!F-B' ' '' ' ' wk'-3='2$-;$='!F"-g!' ' Uk'-3='t",9IFB'I1=3(*3' ' Qk'-3='7: ;$=''g-4)7368-d' ' '' ' ' xk'-3='=a1"I:''I7, ' 'PRk'-3+432'\!8$-%!d'',7#8)y3e!<I!8-d'' ' '' '
'
>!Bg3-,8.30-.3%<C !"03!A?B7!!(73!ba.8$973!/06* 7!!(73! !"#$%A?B!:+>!Bg3-,8.30-.3%<C !"03!:32)I4'' nu3=I1!+73!'nu3=>!B(a?+3-A?Bnu3=2"e27!!( !:+>!Bg3-,8.30-.3%<C !"03!:32)I4''nu3=2"e27!!('no7: !(' A?B0-*2=+3-,p\3B7"8 !:+>!Bg3-,8.30-.3%<C !"03!:32)I4'nu3= !"03!+3-%$C2E> ,?H3-)73! !"#$% >!Bg3-,8.30-.3%<Cnu3=>`" $F"73!' !:+>!Bg3-,8.30-.3%<C !"03! !:+>!Bg3-,8.30-.3%<C !"03!'nu3=953,-"-73!I1!+73! !:+>!Bg3-,8.30-.3%<C !"03!'nu3=H3=A?B\$]-3g)!7"8 !:+>!Bg3-,8.30-.3%<C !"03! nu3=73!,+"-A?B $6;<'A?B-$7?+%)-4$(\$-gd ba.:53-2=73!''nu3=2"e27!!(A?Bnu3=953,-"-73!I1!+73! ba.:53-2=73! nu3=2"e27!!('nu3=953,-"-73!I1!+73!A?Bnu3=H3=A?B\$]-3g)!7"8
,>D-ba.953,-"-73!9.3-123(!$ b"9;: F*:4$+1(H:+ !"#%$ &'/0.,>D-E>:=*3+(<>!B4"%g"@3\A?B,7"9>!BI=;-d4+a 4)9 F*::+1d7!'1hB7!!(73! !"03!(<0-.3%<9C 3. -123(!$ b"9;: F*:4$+1('9$+-<[' ' Pk'7530-9-I= 3=9.3-123(!$ b"9;: F*:4$+1( ' Tk',4-:!3=;^C : 1hB%5 3 +3-,\^C : 95 3 ,-" - 73!4^C : 43! /0.\-$7+3-%)7!B9$ ' 1a*1.3' A?Bba.%<C,7<C=2H.:+%)71-!a.' ,H.3/8 A?BF!B0-$7/-9.3-123(!$ b"9;: F*:4$+1('KzN{Z ' mk'7530-9Ab-+3-%<,C 0(3B4(/0.4:91?.:+7$ -I= 3= /-73!953,-"-g)!7"8H:+ !"#$%&
JOY OF ENGINEERING AND ACHIEVEMENT
' Yk'8$9%53+ >!B(3h%<C,0(3B4(' F"9F3(A?B>!B,("b?+3-\!.:(% %2-Ab-+3-,\^:C /0.,>D-E>F3(-I= 3=%<2C 3+E2. ' sk'4-$ 4-)-/0.,7"973!A?7,>?<=C -'123(!a'. 123(453,!i8' A?B>!B4 73!hd9.3-123(!$ b"9;: F*:4$+1(' KzN{Z' !B02*3+0-*2=+3-H:+ !"#$%A?B0-*2=+3-@3=-:7 ' wk'!3=+3-b?73!953,-"-+3-' 9.3-123(!$ b"9;: F*:4$+1(H:+ !"#$%&'F*:1hB7!!(73! !"#$%:=*3+F*:,-^C:+'' ' ,\^C : /0. 7 3!95 3 ,-" - 73!9$ + 7?* 3 2,>D - E>9. 2 =123( ,!<= !.:= !!?)F3(2$Fq)>!B4+1d' 8_+E9.AF*+F$[+1hB%53+39. 3 -123(!$ b"9;: F*:4$+1('9$+-<[
!"#!$% &'(!%) *+,,-
113
Pk'-3+43283!)2!!h''4)H%$C263F"'' 0$20-.31hB%53+3Tk'-3=:-);"F''> =(3-"F' 1hB%53+3mk'-3=h$J\?''4"-H8!' 1hB%53+3Yk'-3+4322$-%-<''b9)+%e' 1hB%53+3sk'-3+432($??"73'',8!"6%!$\=d' 1hB%53+3wk'-3=:-);3''\3I\g" \"\$]-d\+ed' 1hB%53+3Uk'-3+432%$FF"63''4^ 43=4"+0d'' 1hB%53+3Qk'-3+432h$;;3''2"2$]-g<!7)?' 1hB%53+3-A?B,?H3-)73!
1hB%53+3-(<0-.3%<CA?B123(!$ b"9;: '9$+-<[' ' Pk' 953,-"-73!F3(-I= 3=A?BAb-+3-9.3-123(!$ b"9;: F*:4$+1(' ' Tk'!*2(7$-,4-:A-2%3+73!953,-"-+3-,\^C:/0. !!?) ,>c30(3=F3(%<C7530-9E2. ' mk'!3=+3-b?123(1^ 0-.3/-73!953,-"-+3-F*:1hB 7!!(73! !"03!'!2(q_+>!B43-+3-7$ 0-*2=+3-%<,C 7<=C 2H.:+' ,\^C:/0. !!?)2$Fq)>!B4+1dF3(Ab-+3-%<C7530-9E2. ' Yk'\"83!h37?$C-7!:+7"87!!(',\^C:4$+1(;)(;-'A?B 4"C+A29?.:(H:+ !"#$%,\^C:-53,4-:F*:1hB7!!(73! !"03! ' sk'95 3 ,-" - 73!:^C - /9%<C E 9. !$ (: 0(3=8371hB 7!!(73! !"03!'K|}~ '} '' ~ ~ Z
!"#$"%&$'()#*+,-.#/0.1)2%'
!"#$%' IFI=jE%=' 1:!d>:,!;$C-' 8537$9' K(03;-Z' (< - I= 3=95 3 ,-" - g) ! 7" 8 9. 2 =123(!$ b" 9 ;: F* : 4$ + 1( Kz} } ~ ' N} ~ ' { } S' zN{Z' 9. 2 = ,8F-3!(hd%8<C B%53+3-!*2(7$ ba%. (<C 4< 2* -,7<=C 2H.:+'I9=()+* 4!.3+ A?B4^ 43-123(4$ ( \$ - gd :$ - 9< %<C , 7" 9 83773!=:(!$ A?B E2.23+/8 _C+7$-A?B7$-' 153-_+q_+b?7!B% %<C:388B(<F*:ba.(< 4*2-E9.4*2-,4<=' ,;*-' ba.q^:0).-' \-$7+3-' ?a71.3' 1a*1.3' A?B 0-*2=+3-@31!$J'/0.123(4531$6/4*/89aA?4"+C A29?.:('!2(%$+[ 4-$ 4-)-73!953,-"-7"87!!(,\^C:4$+1(:=*3+F*:,-^C:+ 3 #(+45) 63789 %&(:;$8 ,< &=>+#/) ?+ 2@A =(B:.#,C&" 8D):3E3=(B:$(3,)2 FG
114
!"#!$% &'(!%) *+,,-
Pk'73!953,-"-g)!7"8I9==_9q^:8!!=3 !!h%3+g)!7"8' Kz} ' } ' z} Z' A?B8!"=g!!(%3+g)!7"8' Kz} ' } ' | 'f Z' ' Tk'73!,13!\4"%g"(-)#=;-A?B73!>`" F$ F" :* A!++3:=*3+,>D-g!!( ' mk'123(!$ b"9;: F*:?a71.3'-$7?+%)-'1a*1.3'\-$7+3-' A?Bba.(<4*2-,7<C=2H.:+:^C- ' Yk'73!953,-"-7"87!!(,\^C:4$+1(/-9.3-F*3+ ' sk'123(!$ b" 9 ;: F* : 4"C + A29?. : (A?B(3F!J3123(>?:9@$= ' wk'-2$F7!!(H:+ !"#$%%<C153-_+q_+123(!$ b"9;: F*:4$+1(
HI3:$(,;$7 + JK(:+L!,""@,MN.L(("$#((O5$2JK(:+L3 PQRST3 RU3 QRVSWXYZ3 <DBL(+"J(('5$2JK(:+L3 (Code of Business Ethics) !"#$%953,-"-g)!7"8I9==_9q^:!B, <= >`" $F",7<C=27$ 8!!=3 !!h%3+g)!7"8'Kz} '} 'z} Z'A?B8!"=g!!( %3+g)!7"8'Kz} '} '| 'f Z',\^C:/0.73!953,-"g)!7"8,>D-E>:=*3+qa7F.:+A?BI>!*+/4' !2(q_+73!>?a7n +/0. \-$7+3-%$+[ :+1d7!F!B0-$7A?B(<8F" 453-_7/-8!"=g!!(/-73! 953,-"-g)!7"8
L(("$#((O5$2JK(:+L3PQRST3RU3QRVSWXYZ
0?$773!4531$6H:+8!!=3 !!h%3+g)!7"8-<1[ !: 1?)( q_+-I= 3=H:+ !"#$%&' /-73!%53g)!7"8:=*3+(<8!!=3 !!h I9=73!(<4*2-!*2(H:+' )1?37!H:+ !"#$%& '%)7@31nu3= 3 HI31(C$2%&$'[&C&$2\L\8CD]:%C$ ' ' 953,-"-+3-9.2=123( ^:C 4$F=d48) !"FA?Bg!!(3@" 3? ' ' I9=F!B0-$ 7 q_ + 73!4!. 3 +123(\_ + \:/8A?B ' ' 123(E2.23+/8/0.?7a 1.3'9.2=73!,4-:%!$\=37!%<(C < ' ' 1*3H:+ !"#$%',;*-' )1?37!',%1I-I?=<' A?B123( ' ' ,;<C=2;36%<C4$C+4((3837>!B4 73!hd:$-=32-3-' 3 ^I3=>+#)/+/$':_8'$"<DB:_(B7#F"#`C.#)2%)# ' ' >`" $ F" F 3(7G0(3=A?B7G!B, < = H. : $ + 1$ ' ' F?:98-g!!(,-<=(>`" F$ H" :+73!%53g)!7"8!B02*3+ ' ' >!B,%eI9=()*+953,-"-+3-:=*3+(<(3F!J3-A?B ' ' 8!!=3 !!h2";3;<\' A-2%3+73!>`" $F"9$+7?*32
JOY OF ENGINEERING AND ACHIEVEMENT
' ' ,>D-> 88$=%<%C 35 /0. !"#%$ ,F" IF:=*3+=$+C =^-9.3-123( ' !$ b"9;: F*:4$+1( ' 3 aI3=>+#)/+/$' !"#$":$(,;$7 + 2$ <DB`C.#)2%)# `.2#(+4)56 ' ' >`" $F"F3(-I= 3=73!953,-"-+3-A?BH.: $+1$ ' ' H:+ !"#$%&',;*! H.: $+1$ H:+ !"#$%& ! -I= 3=73!953,-"-+3-H:+ !"#$%& ! 153>!B73e\$-g7"8 ! H.: $+1$ ,7<C=27$ 73!%53+3! 1a*(^:A?BH$[-F:-73!953,-"-+3-H:+ !"#$%& 3 bI37%$(c\ 1+5J+' K4"- 3 ' ' ,13!\/-4"%g"(-)#=;-A?B123(453,!i8H:+ )11? ' ' /-:9<F!2(q_+'>!B2$Fe" 34F!d'2$]-g!!('A?B>!B,\h<' ' ' ,\^C:-53E>4a*123(,8!"6!)*+,!^:+A?B123(7.320-.3 ' ' H:+4$+1( 3 dI3\8C%&$'1;$%)e/0.1K`. $')"3 %&$'=D.,f)" 1+A2<&,DC.'3<DB%KOf$c ' ' /0.123(4531$6,>D-:$-9$ A!7/-,!^:C +H:+4)H:-3($= ' ' 123(>?:9@$='4"C+A29?.:('A?B1)h@3\
:$(=>+#)/+/$'L(("$#((O5$2JK(:+L`.2#(+4)56
HI3=>+#/) /+ $':_8'$"<DB:_(B7#F"#`.2=(B75g /0$2h35FA#(+4)5637`C$[==(B:.#JK(:+L3<DB=>+#)/+/$':_ (B7#F"#.2%i:(,C&"%&$'?NA.1)/"i31KL(+/3<DB7=j J(('33 ' ' PZ'F!B0-$7A?B>`" $F"F3(7G0(3=%<C/;. $+1$ ' ' ' 7G!B, <= A?B(3F!J3-%3+8!"=g!!(/-73! ' ' ' >!B7: g)!7"8'%$C2I?7',\^C:4!.3+123(\_+\:/8 ' ' ' A7*?a71.3A?B,F" IF:=*3+F*:,-^C:+ ' ' TZ' >`" F$ F" 3(7G!B, =< :+1d7!A?B!$7#34$(\$-g ' ' ' @3\:$-9<!B02*3+0$20-.3+3-A?B\-$7+3-',\^:C /0. ' ' ' !!?),>c30(3=/-73!953,-"-+3-' ' ' mZ'953!+E2. _C+(3F!J3-%3+8!"=g!!(,\^C:/0.E9.!$ ' ' ' 123(E2./88374$+1(:$-,>D-4"C+45 31$6F*:73! ' ' ' !!?),>c30(3=%3+g)!7"8 3 ^I37%$(c\ 1+5J+' K4"- 3 =>+#)/+/0.5K:% ."0$2 71'.f$%3<DB['0DB7'+,1+5J+`.2*]C.NA ' ' PZ'F!B0-$7A?B,13!\>!B2$F"e34F!d' 2$]-g!!(
JOY OF ENGINEERING AND ACHIEVEMENT
' ' ' A?BH- g!!(,-<=(>!B,\h<H:+AF*?B>!B,%e ' ' ' %<C !"#$%&',H.3E>>!B7: g)!7"8 ' ' TZ',13!\/-4"%g"(-)#=;-A?B>`" $F"F*:%)71' ' ' :=*3+,4(:@31I9=E(*,?^:7,;^:[ ;3F"'e34-3'?$%g" ' ' ' ,\e' 4q3-@3\%3+4$ + 1(' 4$ 6 ;3F" ' :3=)' ' ' ' 123(%)\\?@3\'&?&' ' ' mZ'4!.3+4@3\A29?.:(/-73!%53+3-%<CE(*7*:/0. ' ' ' ,7"973!,?^:7>`" $F"A?B?B,("94"%g"H:+ba.:^C' ' ' !2(%$[ + 9a A ?A?B>c : +7$ - (" / 0. , 7" 9 73!7!B%5 3 ' ' ' 9$+7?*32' _C+7*:/0.,7"9b?%<CF.:+qa7953,-"-19< ' ' ' %3+7G0(3= 3 aI3=>+#)/+/$'`C./:D2(B8&0$2=(B75g&0$,C&":$( ,;$7 + JK(:+L(B8&0$2=(B75g ' ' PZ' F!B0-$7A?B>`" F$ F" 3(H.:F7?+!B02*3+>!B,%e ' ' ' %<C , 7<C = 2H. : +7$ 73!95 3 ,-" - g) ! 7" 8 H:+ !" #$ % & ' ' ' !2(q_ + 7G!B, < = A?B7G0(3=@3#< : 37! ' ' ' %<C,7<C=27$ 73!-53,H.34*+::7' ' ' TZ'F!B0-$7q_+123(AF7F*3+/-73!953,-"-g)!7"8 ' ' ' A?B7G0(3=H:+AF*?B>!B,%e%<C !"#%$ &',H.3E> ' ' ' >!B7: g) ! 7" 8 ' I9==_ 9 ($C - /-123( ^C : 4$ F =d ' ' ' 4)8!"FA?B(<8!"=g!!( 3 bI3=>+ #) /+ / $'1 J+ 1) e e$(B8&0 $ 2=(B75g<DB :_8'$"7:FA"&:)#:$(. K():4i1+A2<&,DC.'3 (&'5)G2:$(\8C %&$'1;$%)e1]21K,\ 7(N.A 21K`. $')"3 %&$'=D.,f)"3 <DB 1+2A <&,DC.' ' ' PZ' !"#%$ &'F!B0-$7q_+73!:-)!7$ #d4+"C A29?.:('I9= ' ' ' \=3=3(?9b?7!B% %3+4"C+A29?.:(:$-,-^C:+' ' ' ' (3837+3-2"e27!!( !"73!'-:7837-<=[ +$ ()+* ($-C ' ' ' %<8C B\$]-39.3-:)F4307!!(A?B,e!#J7"812 1a* ' ' ' 7$ 73!:-)!$7#d4"C+A29?.:( ' ' TZ''\] $ -3,%1I-I?=<A?Bb?"F@$h d%4<C :91?.:+F*: ' ' ' 73!:-)!$7#d4"C+A29?.:( ' ' mZ' ()+* ($-C %<8C B4!.3+1)h@3\'(3F!J3-9.3-4)H:-3($= ' ' ' 123(>?:9@$=' ,\^C:/0.E9.!$ 73!=:(!$ A?B ' ' ' ,;^C:'q^:/-4$+1( 3 dI37%$(c5()c"i1+ 5$2=kee$3 1+5J+#)/(3 8(N.1+5J+ .NA \,`.2D]:%C$3%]0%C$3*]C5FA7:FA"&`C.2.NA h3(&'M@2=:=l.2\ 1+5J+,)2:D0$&`.2#(+4)56
!"#!$% &'(!%) *+,,-
115
'
' PZ'F!B0-$ 7 q_ + 123(45 3 1$ 6 H:+H. : (a ? %<C , >D 123(?$ A?B7!!(4"%g" H:+ !"#$%&' I9=,7i ' ' ' !$7#3H.:(a?9$+7?*32F3(-I= 3=73!!$7#3123( ' ' ' >?:9@$=H:+H.:(a?' ' ' TZ'E(*,> 9,b=H.:(a?%<C,>D-123(?$ A?B7!!(4"%g" ' ' ' ' H:+ !"#%$ &'A7* 1) 1?@3=-:7'!2(q_+73!E(*/;. ' ' ' H.:(a?9$+7?*32,\^C:>!BI=;-d4*2-F-0!^:,\^C: ' ' ' 2$Fq)>!B4+1d/9 '%<HC 9$ 7$ b?>!BI=;-dH:+ !"#%$ &' ' ' mZ'9aA?!$7#3%!$\=d4"-%3+> 663'!2(%$[+H.:(a?%<C' ' ' ' ,>D-123(?$ A?B7!!(4"%g"H :+?a71.3'1a1* 3. 'A?B ' ' ' ba.%<C,7<C=2H.:+:^C- ' H:+ !"#$%&' F3(7G0(3= ' ' ' A?B7G!B, <= %<C(</;. $+1$ :=a* 3 EI3['05;$JK(:(('5FA['07=j J(('3 7-0 3 :$(?NG.`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
116
!"#!$% &'(!%) *+,,-
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`P 58A>/8$3)R,;$DX>N"L!6_G-#,9#+7- +9+A -7 C,D R978&IA="567:I&>HU(0/>9A"/#:?"@/?,3#;]1)3E1./0 G$$>-)$$%'-0S*$#1G?$@//-G'\-!?7)$123'4 :I&>R,;$DX>N"L 5 VWL5>C/>-34@!9G0C#%9$H3>30/H3438/"4G0C,/=I%%0 EA/E7-"#-$;]1)3E1'&(R16#[?8->?$@/R16G$$>)$$%!6_ :NA" #-$a7/X#0!"/0+L#$ C,D58A:G$G?$@ / '\ - +=-8E#,0'-0#-$:01 " /3 " 58A N /)67 = > #[?8-> E,/6G"#-$#$D'\-/@"( _ /3":;<"R,G-# #-$;]1 )3 E1 '&( R1 6 #[?8->?$@ / R1 6 G$$>-)$$% 630#,A-= 5 VVL5%3'B34>C/S1=- B" P"=="N,3#%X)$0)* #) 3%!9A0<7#? 8%%'3=%%X TP K"3#0-")$12'3 '*#+"8&?"7-'&'( G&( DE7/0$->0-" !?7R97)30+3))3VN-'$-)?-#8&#-$,D:816#[ G$$>-)$$% ZP )$123'4 GDE7/0$3)R16N/)!"#-$I/)I=" ?-.7/:'YGG$10:#&(>=#3)#-$,D:816#[G$$>)$$% `P !"#$%&'&(K1I9G"LK)=A-8&#-$,D:816#[G$$>)$$%.3"B $7->C$0 R9#7 $D'\-R16C,DR9)7 03 +3))3VN./0R9'7 #&( $D'\-R16/-G567$)3 X'2'-0=1">3 bP R9 7 ) $1 ? - $ . / 0 ) $1 23 ' 4 G D E 7 / 0 I $ 7 - 0 +=-883("!G=A-GD58A8&#-$#,3("C#,70K"3#0-" R97$->0-"#-$,D:816#[G$$>-)$$%630#,A-= K$7/8'3B06\-:"1"#-$I/)I="?-.7/:'YGG$10
JOY OF ENGINEERING AND ACHIEVEMENT
8%<'I%%0$3BIJ%#<85YZ[\]5[^5_`abc]aa5defbgh
"/#:?"@/G-##[?8->EA-0_C,7= )*+,-#$./0)$12'3 4 '*#+"GDE7/0;]1)E3 E1 -8G$1>S$$8'-0S*$#1G:"@/( 0G-#)$12'3 4 :N@(/=A-#-$8&G$1>S$$8'-0S*$#1G:;<"I1(0I\-+3V!"#-$;$D#/) #1G#-$ 5 VL5 @4Q$3B#3%:;<="><>30#?8%%'3=%%X TcT )$1 23 ' 4 +-6?=3 0 =A - )* + ,-#$./0)$1 23 ' 4 '*#+"+=$/A-" '\-+=-8:.7-!G C,D;]1)E3 E1 -8 8-E$^-"C,D#[G$$>-)$$%'&#( -\ ?"6 TcZ )* + ,-#$./0)$1 23 ' 4 +=$'\ - $->0-"WU 0 R9 7 ) $1 ? -$$D63 ) I9 0 :8@( / K).7 / )#K$A / 0!" #[G$$>-)$$% C,D:I"/.7/C"D"\-?$@/+=-8 +16:?Y":K@(/;$3);$*0#[G$$>-)$$%!?76&.UB" 5 iL5 @4Q$3B#3%:%9#/=IJ%#<8 ZcT )$123'4 GD6\-:"1"S*$#1GE-8?,3##[?8-> '&(:#&(>=.7/0C,D+05=7HU(0+=-8:;<"S$$8 ZcZ )$12'3 4 :N@/( 83"( =A-#-$;$D#/)S*$#1G67=>+=-8 H@(/I3E>LI*G$1E 8&+*%S$$8C,DG$1>S$$8:;<" 5 S$$8-O1)-,'-0S*$#1G'&(6& HU(0:;<"C"='-0 !?7:#16+=-883("+0C,D+=-8#7-=?"7Zc` )$123'4 GD:+-$KC,D;]1)3E1E-8S$$8:"&>8 ;$D:K%& . /0;$D:'F'&( ) $1 23 ' 4 567 : .7 - 5; ;$D#/)S*$#1G Zcb )$12'3 4 GD6\-:"1"S*$#1G67=>+=-8H@/( I3E>LIG* $1E X6>:aK-D/>A-0>1(0!":$@(/0'&(:#&(>=#3)"X>)-> '-0#-$:01" #-$#\-?"60);$D8-%C,D#-$ ;$D:81"R,0);$D8-%!"X+$0#-$!6_ HU0( GD E7/0G36:E$&>8+=-8K$7/8!?7W9#E7/0N36:G" Zcd )$12'3 4 ?=30=A-)*+,-#$./0)$12'3 4 '*#+"GD 5 :+-$KC,D;]1)3E1E-8"X>)-> #$D)="#-$ '-0#-$)3VN&C,D #[$D:)&>)/@"( _ ./0)$12'3 4 />A-0H@(/I3E>LI*G$1E "/#G-#"&B )*+,-#$./0 )$123'4 KU0$->0-"!?7R97)$1?-$$D63)I90'$-) '3 " '& ? -#K).7 / I0I3 > =A - 8& # -$,D:81 6 #[ G$$>-)$$%HU0( /-GGD#A/!?7:#16+=-8:I&>?-> EA/N@(/:I&>0./0)$123' 5 jL5 PQ30%"=S<7,/=>C/S1-Ok/ J-4 `cT )$12'3 4 GD6\-:"1"S*$#1G:K@/( !?7)$$,*:;e-?8-> !"#-$:K18( 89,+A-'-0:F$2^#1GC,D+=-8830( +30( ./0R97W@/?*7"!"$D>D>-= R97W@/?*7"GD567$3)R,
JOY OF ENGINEERING AND ACHIEVEMENT
;$DX>N"LG-##-$6\-:"1"0-"/>A-08&;$DI1'S1O-K C,D#-$>U6?,3#S$$8-O1)-,./0)$123'4 `cZ )$123'4 :+-$KI1'S1./0R97W@/?*7"X6>#-$!?7 .7/89,'&:( K&>0K/:#&>( =#3)S*$#1G:K@/( !?7RW79 /@ ?*"7 I-8-$WK1G-$%-'1F'-0'&W( #9 E7/0:?8-DI8./0 S*$#1G'&(567,0'*"5; )$123'4 GD$->0-".7/89, '&N( 63 :G"C,DW9#E7/0:#&>( =#3)#-$)$1?-$G36#-$ C,DIW-"D'-0#-$:01" $=8'3B0$->0-"R, ;$D#/)#-$!?7RW79 /@ ?*"7 567'$-)/>A-0I8\-( :I8/ E-8#[$D:)&>).7/)30+3)./0+%D#$$8#-$ #\-#3)E,-6?,3#'$3K>L `c` )$12'3 4 $=)$=8C,D:#Y)$3#2-.7/89,E,/6G" #-$'\ - $->0-"'-0)3 V N& ! ?7 : ;< " 5;E-8#[ $D:)& > )'&( : #&( > =.7 / 0C,D:;< " 5;E-8$D)) $D:)&>)#-$)3VN&'3(=5; `cb )$123'4 GD;]1)3E1EA/R97W@/?*7"/>A-0:I8/O-+ !"#-$;$DN*8R97W@/?*7" lL5 PQ30T"0&"4I(#"=S1-8"78H3 4C3'@!9S1-%"=A 03 bcT R97G36G\-?"A->I1"+7-?$@/)$1#-$C,DR97$3):?8GDE7/0G36?-I1"+7-C,D)$1#-$'&8( +& % * O-KC,D 8-E$^-"!?7)$123'4 bcZ )$123'4 GD$3#2-I38K3"SO-K/3"6&#3))$$6R9 7G3 6G\ -?"A- >I1"+7 - ?$@ / )$1#-$ ?"A =>0-" ./0$3^ C,DR97$3):?8-./0)$123'4 bc` )*+,-#$./0)$123'4 GDE7/058ACI=0?-R, ;$DX>N"LIA="E"G-#R97G36G\-?"A->I1"+7-?$@/ )$1 # -$ ?"A = >0-"./0$3 ^ C,DR9 7 $3 ) :?8./0)$123'4 mL5 TJ./430"'+4TO34$)*$H3B34 dcT )$1 23 ' 4 GD;e / 0#3 " #-$:#1 6 /* )3 E1 : ?E* #-$ )-6:GY)?$@/#-$:GY);f=>G-##-$'\-0-" X6> /-F3>+=-8$A=88@/G-#K"3#0-")$123''*#+" '30B "&)B $12'3 4 GD+7"+=7-?-=1SG& 63 #-$+=-8:I&>( 0 '&(/-G:#16.UB"!"$D?=A-0#-$'\-0-" dcZ )$12'3 4 GDG36!?78/& ;* #$%L :+$@/( 08@/:+$@/( 0!N7 /D5?,AN1B"IA="/*;#$%L$=8WU0#-$gh#/))$8 :K@/( !?7:#16;$DX>N"L!"#-$I$7-0+=-8;,/6O3> C#AK"3#0-"C,D'$3K>LI1"./0)$123'4 dc` #$%&8&:?E*a*#:a1"?$@//*)3E1:?E*!"#-$'\-0-" )$12'3 4 GD8&8-E$#-$!?7+=-8NA=>:?,@//>A-0 '3"'A=0'&C,D8&;$DI1'S1O-K !"#!$% &'(!%) *+,,-
117
dcb )$12'3 4 GD;]1)E3 E1 -8#[?8->C,D#[$D:)&>) '&(:#&(>=.7/0/>A-0:+$A0+$36 dcd )$12'3 4 GDK3i"-C,Dgh#/)$8K"3#0-")$12'3 :K@/( !?78"3( !G=A-K"3#0-"'*#+":.7-!GC,D567$)3 .7/89,'&:( K&>0K/:#&>( =#3)IO-KC=6,7/8!"#-$ '\-0-" .3B"E/"#-$'\-0-" C,D#-$:GY);f=>'&( /-G:#16.UB"G-##-$'\-0-" nL5%9==P/0&<QA>/%( )*+,-#$./0)$123'4 '*#+"E7/0;]1)3E1E-8#[ $D:)& > )./0)$1 23 ' C,D#[?8->'&( : #&( > =.7 / 0#3 ) #-$!N70-"$D)):+$@/.A->+/8K1=:E/$L!"/0+L#$ />A-0;,/6O3> KL5PQ30%"=S<7,/=>C/T<*B@Q7!-/0 )$12'3 4 GD6\-:"1"S*$#1GE-8#[?8->67-"I10( C=6,7/8 C,D#[$D:)&>)'&(:#&(>=.7/0E-8+=-8G\-:;<"
iL5 #3%AP3%&T< $ I< 0 4J E ',4@!9#3%:;< =" >< > C / @%BB34/'C3BA:o4I%%0
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
#3%71@!&4"#B34
)$123'4 !?7#-$69C,K"3#0-"'*#+"C,D+=-8?A=0!> :;$&>):I8@/"+$/)+$3=:6&>=#3" K"3#0-"'&(;]1)3E1?"7-'&(!" I\-"3#0-"!?VA?$@/E-8X+$0#-$#A/I$7-0EA-0_ '30B !";$D:'F ?$@/EA-0;$D:'F K"3#0-";$DG\- K"3#0-"I3VV-G7-0:;<" K"3#0-"+"5'>?$@/K"3#0-"EA-0N-E1
PQ30A$C3A$)'0#"4
)$1 23 ' 4 58A 8& . 7 / #\ - ?"6'&( C E#EA - 0#3 " !"#-$G7 - 0 K"3#0-"'&('\-0-"!",3#2%D:6&>=#3" X6>:;Q6X/#-IC,D!?7
118
!"#!$% &'(!%) *+,,-
+=-8:'A-:'&>8#3"./0)*++,'*#:N@B/N-E1 F-I"- :KF /->* N"N3B" O981,\-:"- #-$FU#2- I-.-=1N- :K@(/!?7567)*++,-#$ '&(?,-#?,->E-8+=-8G\-:;<"./0,3#2%D0-"#3)/0+L#$
#3%T%% 3@!9#3%8-3BB34
K"3#0-"'3B0?86 ZjZkl +"./0)$123' XEX>m5'>4 :;<"K"3#0-";$DG\-C,DK"3#0-"I3VV-G7-0 K"3#0-"'*#+" 567 $3 ) I1 ' S1 ; $DX>N"L .3B " E\( - E-8#[?8->5'> 58A = A - GDW@ / I3VN-E1!6#YE-8 !"#-$$3)I83+$0-" gf->)*++,GD'\-#-$ E$=GI/);$D=3EI1 =A "E3= C,D;$D=3E#1 -$'\-0-" />A-0:.780=6 :K@(/;e/0#3"#-$!N7C$00-"'&(R16#[?8-> +6&/-NV-#$$8 C$00-")30+3) C,DC$00-":6Y# M:K@/( !?7:;<"5;E-8#-$:+-$K I1'S18"*2>N"C,D#-$;]1)3E1EA/C$00-"/>A-0:;<"S$$8P #-$GA->:01":6@/"GDGA->E$0:.7-)3VN&:01":6@/"'*#I1B":6@/" )$123'4 567'\-#-$.UB"'D:)&>"K"3#0-";$DG\-C,DK"3#0-" I3VV-G7-0#3)I\-"3#0-";$D#3"I30+8C,D"\-IA0:01"I8') #/0'* " ;$D#3 " I3 0 +8'3B 0 !"IA = "./0"->G7 - 0C,D,9 # G7 - 0 :K@/( !?78"3( !G=A-K"3#0-"'*#+"567$)3 I1'S1C,D:.7-WU0I=3I61#-$ ./0$3^!"67-"#-$;$D#3"I*.O-KC,D#-$$3#2-K>-)-, n #-$'6I/) X6>!N7C))'6I/):N10'3#2D +=-8$97 K@B " ^-"67 - "+/8K1 = :E/$L #-$C;,0-" C,D 0-"67-" op :;<"E7" :K@(/!?7'$-)'3#2D C,D K@B"^-"+=-8$97'3(=5;./0R97I83+$0-" n #-$I38O-2%L '-0)$123'4 567!N7C));$D:81"R, #-$;]1)E3 01 -"'&:( ;<"8-E$^-"E-8'&)( $12'3 #\-?"6 .UB" X6>8&?3=.7/:$@(/0'&(!N7I38O-2%L0-"CE#EA-0#3" .U"B />9#A )3 E\-C?"A00-"C,DCR"#0-"'&R( I79 83+$0-" 567I83+$5=7 TO<><#3%!3 'J7B34./B&4"#B3455+4:p55immm5q5immK 5
#3%!3 'J7 5 ,-;f=> ,-#1G ,-:K@(/+,/6)*E$ ,-E-8?8->:$&>#K, ./0$-N#-$'?-$ ,-:K@(/'\-?83" ,-/*;I8)'
5immK5
8H34Q45YP4h immn5 immm
ZjTqd l`s TT
ZjZkr kdZ TT
Tjkrb `lT r
k m `T
s m `k
d m Zl
JOY OF ENGINEERING AND ACHIEVEMENT
TO<><#3%!3P!/7=J>%./BS1- N<B5:p5immm5q5immK 8H34Q45YP4h #3%!3P!/7 5 5 immK5 immn5 immm K"3#0-"'&,( -+,/6)*E$ TT TT r K"3#0-"'&#( ,3)8-'\-0-" ?,30+,/6)*E$ s Tq k
JOY OF ENGINEERING AND ACHIEVEMENT
T<$I<./B&4"#B34
)$123'8&#-$'\-;$D#3"I*.O-K#,*A8#3) )$123' :/5/:/ G\-#36 $=8'3B0;$D#3"#-$:61"'-0HU(0+$/)+,*8/*)3E1:?E* C,D :GY);f=>#3))$123' :/H 5/:/Y":/ X/:=/$LH&,L /1"N3=$3"HL G\-#36
!"#!$% &'(!%) *+,,-
119
#3%:;<=>" >< 30.-/#H3 47@!9#? 03'7-34T<B* @Q7!-/0 #3%:r/B#"4@!9!7S!#%9$=83##3%7H3A4<4#3% #C/T%-3B6P%B#3% :K@/( !?78"3( !G567=-A #-$6\-:"1"#-$#A/I$7-0X+$0#-$./0 )$123' XEX>m5'> +/$L;/:$N3(" G\-#36 M8?-N"P I/6+,7/0 E-8.7/#\-?"6./0#[?8->67-"I10( C=6,7/8 $=8WU0.7/#\-?"6 C,D"X>)->/-N&=/"-83> +=-8;,/6O3>C,DI10( C=6,7/8./0 #,*A8,9#+7- )$123'4 GU0#\-?"6C"='-0#-$;]1)3E1 630"&B+@/ Tc 6\-:"1"#-$;$D:81"+=-8I/6+,7/0./0.7/#\-?"6 C,D#[?8->67-"I10( C=6,7/8 #A/":$18( #-$6\-:"1"#-$#A/I$7-0 X+$0#-$'*#X+$0#-$ Zc E$=G;$D:81"O->!" Mtuvwxuyz {|}~vP :K@(/ E16E-8E$=GI/)#-$6\-:"1"#-$E-8.7/#\-?"6C,D#[?8-> 67-"I1(0C=6,7/8/>A-0EA/:"@(/0C,DI8\(-:I8/
)$123' XEX>m5'> +/$L;/:$N3(" G\-#36 M8?-N"P 567 G36'\-CR"#-$+=)+*8C,D)$1?-$G36#-$67-"I10( C=6,7/8 :K@/( !N7;e/0#3"C,D,6R,#$D')EA/I1(0C=6,7/8 X6>CR"0-" 630#,A-=GDE7/0I/6+,7/0#3)$->0-"#-$FU#2-R,#$D') EA/I1(0C=6,7/8./0X+$0#-$ C,D#\-?"6!?78&#-$E16E-8 E$=GI/)R,#-$;]1)3E1E-88-E$#-$'&($D)*!"CR"#-$4 :;<";$DG\- C,D$->0-"R,#-$6\-:"1"!?7R97)$1?-$X+$0#-$ '$-)/>A-0EA/:"@(/0
#3%st#u-/0@S4vJ#Av<4
)$12'3 XEX>m5'> +/$L;/:$N3"( G\-#36 M8?-N"P C,D '*#X+$0#-$G36H7/8CR"$3)8@/#3)IO-=Da*#:a1"/>A-0"7/> ; ,D T +$3B0
120
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
>3%3B$)*@T7B8H34Q4,"*Q60B#3%$H3B34:%98H36P%B#3%+4TCQ4B34$"wB+4@!9>C3B:%9A$D55+4:p5immm5q5immK5
#3%=37A8x=83##3%$H3B34%Q05YimmmyimmKh
#3%A#<7/J="><A >JOMB."w4 'J7B34
?8->:?E*
{ t J p p t {
+@/ +@/ +@/ +@/ +@/ +@/
/*)3E1:?E*.3B":I&>N&=1E J '*KK,O-K /*)3E1:?E*WU0.3B"?>*60-" /*)3E1:?E*E7/0567$3)#-$$3#2-'-0#-$CK'>L /*)3E1:?E*WU0.3B":;,&(>"0-"N3(=+$-= #-$:#16X$+G-##-$'\-0-" /*)3E1:?E*'&(E7/0567$3)#-$;^8K>-)-,
JOY OF ENGINEERING AND ACHIEVEMENT
u ~c
+@/ +@/ +@/
v wx t
+@/ +@/
/*)3E1:?E*'&('\-!?7'$3K>LI1":I&>?-> :?E*#-$%L:#@/):#16/*)3E1:?E* /*)3E1:?E*'&('\-!?7:#16R,#$D') EA/I1(0C=6,7/8 :?E*#-$%L'&(58A!NA/*)3E1:?E* /*)3E1#-$%L;$D:O'/@("_ !"#!$% &'(!%) *+,,-
121
#3%=%< 3%8"7#3%7-34T<*B@Q7!-/0
G-#)$1:=%K@"B '&'( '&( -\ .*65;>30K@"B '&#( /0:#Y)61"O->!"X+$0#-$ C,DG-#8-E$#-$+=)+* 8 ;e / 0#3 " C,D,6R,#$D')EA / I1(0C=6,7/8E-8CR"#-$;]1)3E10-":$@(/0#-$)$1?-$G36#-$ C,D+=)+*867-"I1(0C=6,7/8 M u ~x u wuvyz yuy w uvx z zyuP ./0)$123'4 567#\-?"6!?78&#-$a&6K$8"\B)$1:=%'&(8&#-$.*6:;Q6?"7-61":K@(/;e/0#3"#-$ *e0#$DG->./0 g*f" C,D#\-?"6!?7R97$3):?8-NA=0'&('\-#-$.":+,@(/">7->61"!N7 R7 - !);#+,* 8 #$D)D)$$'* # 61 " '* # +$3B 0 :K@( / ;e / 0#3 " #-$ *0e #$DG->./0g*"f C,D;e/0#3"#-$$A=0?,A"./0:F261" 630"3"B GDK)=A - )$1 23 ' 4 567 6\ - :"1 " #-$;e / 0#3 " R,#$D')EA / I1( 0 C=6,7/8!":$@/( 0./08,O-=D'-0/-#-F/>A-0:;<"$D))C,D8& ;$DI1'S1O-K
)$123' XEX>m5'> +/$L;/:$N3(" G\-#36 M8?-N"P 567 6\-:"1"#-$G36#-$67-"I1(0C=6,7/8 X6>#-$$D)*N&B)A0 C,D ;$D:81";$D:6Y"; V?-67-"I10( C=6,7/8 I\-?$3)'*#.3"B E/"#-$ 6\-:"1"#-$#A/I$7-0X+$0#-$/>A-0:;<"$D)) 630"&B Tc $D)*;$D:6Y"; V?-C,DR,#$D')67-"I1(0C=6,7/8 G-##1G#$$8#-$#A/I$7-0X+$0#-$./0)$123'4 Zc $D)*8-E$#-$+=)+*8R,#$D')EA/I10( C=6,7/8G-# #1G#$$8 `c ;$D:81"$D63);$D:6Y"; V?-C,DR,#$D')EA/ I1(0C=6,7/8 '&(8&"3>I\-+3V bc G36,\-63)+=-8I\-+3V./0;$D:6Y"; V?-I10( C=6,7/8 dc +=)+*8#-$6\-:"1"0-"!?7I/6+,7/0E-88-E$#-$ +=)+*8;e/0#3"C,D,6R,#$D')EA/I1(0C=6,7/8 #3%8"7#3%0!23Q9$3BAT)'B G-#R,#-$;$D:81";$D:6Y"; V?-67-"I10( C=6,7/8./0 #3%/4J%"#E(T<*B@Q7!-/0 )$123' XEX>m5'> +/$L;/:$N3(" G\-#36 M8?-N"P '-0)$123'4 #3%8"7#3%0!23Q9$3B/3#3D K)=A-8,O-=D'-0:I&>0./0X+$0#-$#A/I$7-0./0)$12'3 4 :#16 G-#R,#-$;$D:81";$D:6Y"; V?-67-"I10( C=6,7/8./0 G-##-$E/#:I-:.Y8 C,D0-"'\-+=-8ID/-6'A/67=>C$063" )$123' XEX>m5'> +/$L;/:$N3(" G\-#36 M8?-N"P '-0)$123'4 ,8?$@/67=>5/"\-B '30B "&B )$12'3 567#-\ ?"68-E$#-$:K@/( +=)+*8 K)=A-8,O-=D'-0/-#-F./0X+$0#-$#A/I$7-0./0)$123'4 C,D;e/0#3"8,O-=D'-0:I&>0I\-?$3)I/0#1G#$$8630#,A-= :K@/( 8-G-#g*f" M yxv~ |zyvw | vP '&(:#16.UB"G-##1G#$$8#-$ ;e/0#3"R,#$D')EA/N*8N" 630"&B .*6:;Q6?"7-61":K@/( #A/I$7-0^-"$-# #-$."?$@/:+,@/( ">7->61" 5 !H37"=5 T
Z
122
#<8#%%05 #-$E/#:I-:.Y8
#-$'\-+=-8ID/-6$D))'A/ 67=>,8?$@/5/"\B-
!"#!$% &'(!%) *+,,-
03>%#3%PQ=PJ0@!9:r/B#"4 #\-?"6!?78&NA=0:=,-#-$'\-0-"630"&B Tc '\-0-"=3"G3"'$L m :I-$L Zc NA=0:=,- ql qq Tr qq "c !?7K1G-$%-:,@/#!N7:+$@(/0E/#:I-:.Y8C)):G-D :;<"/3"63)C$# #\-?"6!?78&NA=0:=,-#-$'\-0-"630"&B Tc '\-0-"=3"G3"'$L m :I-$L Zc NA=0:=,- ql qq Tr qq "c ;$DN-I38K3"SL!?7+"!"N*8N"!#,7:+&>0'$-)WU0 #1G#$$8'&(6\-:"1"#-$ NA=0:=,- C,D 8-E$#-$;e/0#3" E16E3B0/*;#$%L,6:I&>0'&()$1:=%;,->'A/,8 ?$@/'A/5/"\B-
JOY OF ENGINEERING AND ACHIEVEMENT
#3%8"7#3%Q"T7JA !k/+,-@!9#3%8"7#3%./BAT)'
G-##-$R,N&B)A0;$D:6Y"; V?-I1(0C=6,7/8./0)$123' XEX>m5'> +/$L;/:$N3(" G\-#36 M8?-N"P K)=A- #1G#$$8#-$ 6\-:"1"#-$#A/I$7-0X+$0#-$GD#A/!?7./0:I&>.UB":;<"G\-"=" 8-# 630"3B":K@(/;e/0#3"C,D,6R,#$D')EA/I1(0C=6,7/8C,D N*8N" )$123'4 GU0567G36'\-CR"#-$G36#-$ :F2=3I6*:?,@/!N7 C,D./0:I&> X6>!N7?,3#67-"#-$,6 +36C># C,D"\-#,3)85 !H37"=5 T
5
!N7!?8A "/#G-#"&B )$123'4 567!?7+=-8I\-+3VEA/#-$+36C># =3I6*:?,@/!N74 '&()$1:=%C?,A0#A/#\-:"16 :K@(/:;<"#-$+=)+*8 C,D,6;$18-%=3I6*:?,@/!N74 '&(GD:#16.UB"O->!"X+$0#-$ #A/I$7-0 '3B0"&B:K@(/!?7#-$)$1?-$:;<"5;/>A-08&;$DI1'S1O-K )$123'GU0C)A0.3B"E/"#-$)$1?-$G36#-$//#:;<".3B"E/"?,3# 630"&B
."w4>/4
`
;$D8-%#-$;$18-%I1(0;]1#9,?$@/=3I6*58A!N7C,7= '&(GD:#16.UB"O->!"X+$0#-$#A/I$7-0 G36:E$&>8K@B"'&(K3#:#Y)=3I6*:?,@/!N74 N3(=+$-=./0X+$0#-$ +36C>#;$D:O''&(G*6#A/#\-:"16.>D
b
.">7->5;K3#>30K@B"'&(K3#:#Y).>D./0X+$0#-$
d
IA05;)\-)36?$@/#\-G36X6>?"A=>0-"
Z
O->"/#'&(567$3)/"*V-EG-#'-0$-N#-$
5Q">OJ:%9TBP(#3%7H3A4<4#3%5 :K@( / !N7 : ;< " ./0.7 / 89 , :)@B / 0E7 " I\ - ?$3 ) G3 6 :E$& > 8 IW-"'&(K3#:#Y).>DN3(=+$-=./0X+$0#-$ :K@(/;e/0#3"#-$;":; /",0I9AR1=61" #$%&8&#-$?#$3(= 5?,./0./0:I&>/3"E$-> :K@(/,6;$18-%./0:I&>/3"E$-> /3":"@(/08-G-#/-G :#16#-$;":; /"G-#I-$:+8&?$@/.>D/3"E$->5;I9A .>D89,g/>?$@/.>D'3(=5; Tc:K@(/G36:#Y).>D5=7!"K@B"'&(W9#E7/0:?8-DI8E-8 ;$D:O'N"16./0.>D Zc;e/0#3"R97$3):?8-NA=0"\-.>D//#5;'1B0"/#K@B"'&( X+$0#-$X6>58AW9#E7/0E-8#[?8-> :K@(/!?7#-$6\-:"1"#-$#\-G36C,D)\-)36./0:I&>CEA,D ;$D:O' :;<"5;/>A-0W9#E7/0:?8-DI8 C,DI/6+,7/0 E-8#[?8->
./0:I&>/3"E$->
JOY OF ENGINEERING AND ACHIEVEMENT
./0:I&>58A/3"E$->
!"#!$% &'(!%) *+,,-
123
#?%9A=)'=@!9.-/="BP"=A#)*'Q#"=/3,)Q/430"' :;Q6:R>.7/89,/>A-0W9#E7/0X;$A0!IC,D'3":=,- $=8WU0I$7-0 @!9PQ30:!/72"'#3%SC34A.-3//#6P%B#3%F 8-E$^-"#-$!?7)$1#-$:K@/( E/)I"/0+=-8E7/0#-$./0,9#+7&4"#B34zS1-03><7>C/ n E7 / 0CI60)3 E $;$DG\ - X+$0#-$4 !?7 N3 6 :G" GU 0 GD/"*V-E!?7:.7-!"X+$0#-$4 567 n W7-58A8)& E3 $./0X+$0#-$4 E7/0C,#)3E$R987 -E16EA/ ?$@/)3E$N3(=+$-= X6>CG70=3EW*;$DI0+LEA/K"3#0-"$3#2+=-8;,/6O3> n W7-R978-E16EA/E7/0#-$:.7-:.E#A/I$7-0 E7/0567$3) /"*V-EG-#R9G7 63 #-$X+$0#-$?$@/R9G7 63 #-$#A/I$7-0#A/"'*#+$30B C,DE7/0RA-"#-$/)$8?$@/N&BCG0#]$D:)&>)/-N&=/"-83> +=-8;,/6O3> C,DIO-KC=6,7/8!"#-$'\-0-" K$7/8'3B0 I=8!IA /* ; #$%L ; e / 0#3 " /3 " E$->IA = ")* + +,E-8#]+=-8 ;,/6O3>!"CEA,DK@B"'&( /&#'3B0GDE7/0/>9A!"+=-869C,./0 K"3#0-" ?$@/ G;c ./0X+$0#-$ n '* # +"'&( : .7 - 8-!"X+$0#-$ E7 / 0CEA 0 #->I* O -K :$&>)$7/>C,D;]1)3E1E-8#[+=-8;,/6O3>
'34&3 49
n E7 / 0RA - "#-$E$=GI/)+=-8;,/6O3 > C,DE1 6 IE1#:#/$L''&( -0X+$0#-$//#!?7:'A-"3"B GU0GD/"*V-E!?7.)3 :.78-!"X+$0#-$567 n '*#+$3B0'&(G/6>-"K-?"DE7/0G/6?3"?"7-//# n ?7-8G/6>-"K-?"D#&6.=-0/*;#$%L63):K,10!6_
#?%9A=)'=$"*QG:./B6P%B#3% n n n n n n n
?7-8K#K-/-=*S?$@/I1(0R16#[?8-> ?7-86@(8 K#K- I*$-?$@/I-$:IKE16 ?7-8'D:,-D=1=-' ?7-8I9))*?$&(!":.E?7-8I9))*?$&( ?7-8?>/#,7/:,A"#3" ?7-8WA->O-KX6>58A567$3)/"*V-E ?7-8!N7:+$@(/08@/I@(/I-$!":.E#A/I$7-0X6>58A567$3) /"*V-E n ?V108&+$$OL ?7-8'\-0-"?,30 ZZ qq "c
jL5PQ30%"=S<7,/=>C/!1#P-354"#!B$J45P1PC 3- 5&4"#B34@!9 S1-0)TCQ4A#)*'Q.-/B/k*4{
)$1 23 ' 4 !?7 + =-8I\ - +3 V EA / ,9 # +7 - "3 # ,0'* " +9 A + 7 K"3#0-" C,DR978&IA=":#&(>=.7/0/@("_ X6>:I8/O-+ X6>#-$
124
!"#!$% &'(!%) *+,,-
:K@/( I$7-0$->567C,D#A/!?7:#16+=-8>30( >@"EA/S*$#1G "/#G-#"&B )$12'3 4 E$D?"3#=A-K"3#0-"'*#+":;<"'$3K>-#$'&'( $0+*%+A'&(I*6./0)$123' GU0!?7+=-8I\-+3V !"#-$K3i"-F3#>O-K R, E/)C'"C,DX/#-I!"+=-8#7 - =?"7 - ./0K"3 # 0-" X6> I"3)I"*"#-$K3i"-+=-8$97 +=-8I-8-$W./0K"3#0-"/>A-0 EA/:"@(/0 '3B0>30G36!?78&I=3I61#-$ C,D#-$!?7+=-8NA=>:?,@/ 67-"EA-0_ C#AK"3#0-" C,DIA0:I$18#1G#$$8EA-0_ $D?=A-0 K"3#0-"C,DR97)$1?-$
#3%=%< 3%PC38-3B5AB<4A7k/45@!9S!>/=@$4
)$1 23 ' 4 8& # -$#\ - ?"6$D:)& > );]1 )3 E1 : #&( > =#3 ) +A E/)C'"C,DI=3I61#-$./0K"3#0-"'&(N36:G" X6>!?7R, E/)C'"C,DI=3 I 61 # -$/>A - 0:?8-DI8 #-$;$D:81 " +A E/)C'"C,DI=3I61#-$'&(!?7#3)K"3#0-"/>A-0:;<"S$$8:;<" ;$DG\-'*#; K"3#0-"./0)$123''*#+"567$3)#-$;$D:81"R, #-$;]1)3E10-"$->)*++,67=>+=-8>*E1S$$8 X6>)$123'G36!?7 8&#-$;$D:81"R,#-$;]1)3E10-" Z NA=0!" T ; :"@(/0G-#R, #-$;$D:81"630#,A-=GD8&R,EA/#-$;$3):01":6@/"C,DK1G-$%X)"3I./0K"3#0-":K@(/!?7)$123'4 I-8-$W$3#2-K"3#0-"'&(8& ;$DI1'S1O-K :N&>( =N-V0-" !?7'-\ 0-"/>9#A )3 )$12'3 4 :;<":=,"-"_ X6>)$123'4 8&"X>)->#-$GA->R,E/)C'"!?7C#A K"3#0-" Z ;$D:O'67=>#3"+@/ K"3#0-"'&(;]1)3E10-" C,D K"3#0-"'&(:#2&>%/->* 630"3B" +A-E/)C'"C,DI=3I61#-$./0 K"3#0-"'&(;]1)3E10-" ;$D#/)67=> n :01":6@/" n +A-:)&B>:,&B>0EA-0_ n X)"3I n :01"I8'):.7-#/0'*"I\-$/0:,&B>0N&K n #-$;$D#3"I*.O-K#,*A8 n ;$D#3"I30+8 n :I@B/R7-N*6'\-0-"C,D:+$@(/0C)) n +A-,A=0:=,n #-$NA=>:?,@/8$%#$$8I0:+$-D?LI-\ ?$3)K"3#0-" C,D+$/)+$3= n =3"?>*6K3#$7/";$DG\-; n E$=G$A-0#->;$DG\-; n 0-":,&B>0I30I$$+L;$DG\-; C,D#& -I&;$DG\-; n ?7/0//##\-,30#->C,D?7/0X>+D
JOY OF ENGINEERING AND ACHIEVEMENT
n n n n n
I=3I61#-$?7/0K>-)-,K$7/8CK'>L I=3I61#-$?7/0:,&>B 0:6Y#I\-?$3)K"3#0-"'&8( )& E* $JS16:01"NA=>:?,@/0-"CEA00-" C,D0-" -;%#1G #$D:N7-:>&(>8R97;f=>#$%&K3#$3#2-E3='&(X$0K>-)-, #-$:+,@(/">7->R97;f=>'-0/-#-Fa*#:a1" M#$%&:#16 /*)3E1:?E*'&(5;'\-0-">30EA-0;$D:'FP I\ - ?$3 ) +A - E/)C'"C,DI=3 I 61 # -$./0K"3 # 0-"'&( :#2&>%/->* ;$D#/)67=> n ;$D#3"I30+8 n #/0'*"I\-$/0:,&B>0N&K./0)$123'4
n +A-N6:N> n :01"NA=>:?,@/+A->30N&KK"3#0-")$123'4 '3B0"&B :K@(/I$7-0?,3#;$D#3"'-0#-$:01"!?7C#AK"3#0-" :8@( / E7 / 0//#G-#0-"?$@ / :#2& > %/->* G -##-$'\ - 0-" 567 #\-?"6!?78&#/0'*"I\-$/0:,&B>0N&K!?7#3)K"3#0-" :01"!" #/0'*"I\-$/0:,&B>0N&KGD8-G-#:01"./0K"3#0-"'&(GA->IDI8 :01"./0)$123''&(GA->I8') C,DR,;$DX>N"L'&(:#16G-#:01" 630#,A-= ; GG*)3"#-$GA->:01"I8')!"#/0'*"I\-$/0:,&B>0N&K :;<"/3E$-:K1(8.UB"E-8/->*0-"./0K"3#0-" 630"&B
K"3#0-"'&(567$3)R,E/)C'"G-##/0'*"I\-$/0:,&B>0N&K !"; Zddd m Zddr /->*0-" M; P T Z ` b d s Tq ; .UB"5;
/3E$-'&()$123'I8') M$7/>,DP q bq lq Tqq $=8
Zddr Zbd Td` `qr TZ` lZl
G\-"="K"3#0-" M+"P Zddk TlZ Tdl ZbT TTT ksZ
Zddd Td` Trq Tdb Tqk dl`
X6>)$123'567G36E3B0+%D#$$8#-$I=3I61#-$)$123'.UB" I=3 I 61 #-$./0K"3 # 0-"X6>:aK-D $->N@(/ +%D#$$8#-$ E-8$D:)&>)./0#$D'$=0C$00-"C,DI=3I61#-$I30+8 HU(0 I=3I61#-$8&630"&B ;$D#/)67 = >gf - >"->G7 - 0C,D,9 # G7 - 0 :K@( / K1 G -$%-:$@( / 0 PX9#%%0#3%TQ"T7<#3% Tc "->'1=- G-$U# Zc "->N\-"-V /3F"S$$8 `c "->%3^#1EEL 5N>"3"'LS"#1G bc "->:#28I1" CI=0I1"#I1#1G dc "-0I-==$$%1F- F1$1#->D kc "-0I-=)3% 1E- N-V%$0+L rc "-0I-=."12^- G&$D8D#$
JOY OF ENGINEERING AND ACHIEVEMENT
#$$8#-$I=3I61#-$4 E3=C'"K"3#0-"$D63)R97)$1?-$ #$$8#-$I=3I61#-$4 E3=C'"K"3#0-"$D63)R97G36#-$'3(=5; #$$8#-$I=3I61#-$4 E3=C'"K"3#0-"$D63)R97G36#-$CR"# #$$8#-$I=3I61#-$4 E3=C'"K"3#0-"$D63)?3=?"7-0-" #$$8#-$I=3I61#-$4 E3=C'"K"3#0-"$D63)?3=?"7-0-" #$$8#-$I=3I61#-$4 E3=C'"K"3#0-" #$$8#-$I=3I61#-$4 E3=C'"K"3#0-"
!"#!$% &'(!%) *+,,-
125
#)|3T):%98H3:p5 )$123'4 G360-"#& -I&:;<";$DG\-'*#; :K@(/I$7-0+=-8 I38K3"SL58E$&./0K"3#0-"C,DR97)$1?-$!"/0+L#$!?7:#16 +=-8;$/06/0 +=-8I-83++& #-$8&"\B-!GC,D:/@B/: /:R@(/ CRA#3"!"#-$'\-0-"$A=8#3"
#<8#%%0&4"#B34T"0&"4I(
B34:p+ 0C:%98H3:p )$123'4 G360-"; !?8A:;<";$DG\-'*#; :K@(/!?7R97)$1?-$ C,DK"3#0-"567I30I$$+L$A=8#3" K$7/8'3B0#-$CI60./0 K"3 # 0-"'&( $ A = 8#3 " +1 6 C,DI$7 - 0I$$+L : K@( / !?7 : #1 6 +=-8 I=>0-8C,D+=-8)3":'10
#<8#%%0/BP(#% )$123'4 G36#1G#$$8:N1VN="K"3#0-" $A=8;$D#=6 O-KWA-> O->!E7?3=.7/ HU(0R,0-"'&(567$3)$-0=3,GD567$3) #-$E&K18KL!"$->0-";$DG\-; Zddr HU(0 X+$0#-$ 630#,A-=567'\-/>A-0EA/:"@(/0:;<" ; '&( `
126
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
#3%&"}43=JP!3#% "/#G-#)$123'4 567!?7+=-8I\-+3V#3)#-$FU#2- #-$NA=> :?,@/I30+8C,7= )$123'4 >30567E$D?"3#WU0+=-8I\-+3V./0 '$3K>-#$)*++, HU(0"3):;<"I1"'$3K>L'&(8&+*%+A-./0)$123' C,D>30:;<"; GG3>I\-+3V!"#-$.3):+,@/( "!?7)$12'3 ;$DI)+=-8
I\-:$YG )$$,*:;e-?8->'&(=-05=7 67=>:?E*"&B)$123'GU0E7/0:K1(8 +*%+A-C,DK3i"-)*+,-#$!?78&F3#>O-K+=-8C.Y0C#$A0'&( >3(0>@"!"$D>D>-= 67=>X+$0#-$IA0:I$18#-$:$&>"$97I$7-0:I$18 '3#2DEA-0_ !?7#3)K"3#0-"'*#_ ; 630"&B #3%&"}43TCBAT%<0PQ30%1-5@!9$"#E9+ -#"=S1-=%< 3%@!9&4"#B34
)$12'3 4 :N1V'A-"K$D8?-I8;/0 E-,;*EXE )$$>->S$$8!"?3=.7/ ~PQ30%17- 3- 4I%%09 A&k/* AT%<0T%-3B$"D4P><$7)* +) 4#3%$H3B34 !?7#)3 R9)7 $1?-$C,DK"3#0-" % I\-"3#0-"!?VA
)$123'4 567:N1V=1'>-#$G-#)$123' C/Y6=-"HL 5, ;$D#3"N&=1E G\-#36 M8?-N"P C,DS"-+-$ >9X/)& G\-#36 M8?-N"P 8-)$$>->:$@/( 0 #-$=-0CR"'-0#-$:01" C,D #-$C,#:;,&(>"'-0#-$:01" E-8,\-63) :K@(/:I$18I$7-0 +=-8$97+=-8:.7-!G!?7#3)K"3#0-" % I\-"3#0-"!?VA
X+$0#-$ ?,3 # I9 E $#-$I"'"-O-2-/3 0 # 2 I\-?$3)=1F=#$C,DK"3#0-" :K@(/:K1(8;$DI1'S1O-K!"#-$ I@(/I-$#3),9#+7-C,D+9A+7-N-=EA-0N-E1 !"; Zddr X6>8&$-> ,D:/&>6./0?,3#I9E$ 630"&B
JOY OF ENGINEERING AND ACHIEVEMENT
Tc #-$I"'"-O-2-/30# 2I\-?$3)=1F=#$ Zc #-$I"'"-O-2-/30# 2I\-?$3)K"3#0-" `c #-$"\-:I"//>A-08@//-N&K
!"#!$% &'(!%) *+,,-
127
`c =3"'&( Zsm`T I10?-+8 Zddr '&X( $0C$8/8-$& ?3=?1" )$12'3 4 567G63 I388"-!"; Zddr I\-?$3)R9)7 $1?-$C,D K"3#0-"!"?3=.7/ o v y¡w ¢vx u wx v G30?=36;$DG=)+&$&.3"SL bc =3"'&( ZkmZl #3">->" Zddr '&X( $0C$8$&:G"'L ND/\¢y ~u yu} u vxy~uv £ x x ¤w v X6>C)A0//#:;<" )&N G30?=36:KN$)*$& d +$3B0630"&B Tc =3"'&( `q K 2O-+8 T 81W"* ->" Zddr '&X( $0C$8 dc =3"'&( rms K FG1#->" Zddr '&(X$0C$8¥1,E3" :N/$-E3" ?3=?1" $&I/$L'C/"6LI;- G30?=36:KN$)*$& ?3=?1" $&I/$L'C/"6LI;- G30?=36;$DG=)+&$&.3"SL Zc =3"'&( ZdmZr #$#[-+8 Zddr '&(X$0C$8X"X=:', ?3=?1" ND/\- )&N $&I/$L'C/"6LI;- G30?=36:KN$)*$& )$123'4 $A = 8G3 6 )9 S 67-"/-N&=/"-83>C,D+=-8 ; , / 6 O3 > C , D $ A = 8 0 - " =3 " 0 - " + = - 8 ; , / 6 O3 > I\-?$3)R9$7 )3 :?8- !"=3"'&( Tl S3"=-+8 Zddr #3%TCBAT%<0TJ.23&$)*7)+ -#"=&4"#B34 )$12'3 4 567!?7+=-8I\-+3V67-"I*./"-83>./0K"3#0-" />A-0EA/:"@/( 0 630"3"B )$12'3 4 GU0567G63 X+$0#-$ owyzv ¦ $A = 8#3 ) X$0K>-)-,#,7 = >"\B - 5' :K@( / K3 i "I8$$WO-K'-067-"$A-0#->!?7K"3#0-"8&I*.O-K$A-0#-> '&(C.Y0C$0:K1(8;$DI1'S1O-K!"#-$'\-0-" HU(0X+$0#-$ 630#,A-=G36.U"B E30B CEA:6@/"I10?-+8 K FG1#->" KcFc Zddr K"3 # 0-"'* # +"E7 / 0567 $3 ) #-$E$=G I*.O-K;$DG\-; E-8X;$C#$8'&'( -0)$12'3 G36!?7 W7-K"3#0-"$97IU#58AI)->?$@/IO-K $A - 0#->58A K $7 / 8'&( G D'\ - 0-"!?7 $& ) CG7 0 ?3=?"7-0-"'3"'& :K@/( !?7K"3#0-"RA/"+,-> +=-8:+$& > 6?,3 0 G-##-$'\ - 0-" '-0 )$123'4 GU0G36IW-"'&(C,D+$9R97gh#I/"'&(8& +=-8:N&(>=N-V'3#2D#-$//##\-,30#->'&( 6&8-gh#I/"E-8,\-63).3"B E/" :K@/( !?7:#16 ;$DI1'S1O-K #-$//##\-,30#->C)A0:;<" X>+D C/X$)1+ C,D;Q0;/0 C,D)$12'3 4 567 G36#-$E$=GI*.O-K;$DG\-; !?7#)3 K"3#0-"
128
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
#3%T%-3B8<>TH34M#5@!9+,-/J:#%X(/'C3BPJ-0PC3
#3%+,-/J:#%X(AP%k*/B+,-TH34"#B34 )$123'4 :,@/#!N7:+$@(/0!N7I\-"3#0-";$D:O'EA-0_ '&(8& ;$DI1'S1O-K!"#-$'\-0-":K@(/NA=>,6+A-!N7GA->C,D,6R, #$D')67-"I1(0C=6,7/88&/3E$-#-$I1B":;,@/0K,300-"E\(-!" $D?=A-0!N70-" C,D>30!N7:+$@/( 0 /#/-#-F696+=3":K@/( NA=>,6 8,K12!"I\-"3#0-" )$123'4 IA0:I$18!?78&#-$!N7?,/65 M ~ v ~vv~u ~ }wP C'"?,/65 ,9//:$I:H"EL!"I\-"3#0-" :K@(/;$D?>36K,300-"C,D,6X,#$7/" #3%st#/=%0 K"3#0-"'*#+"E7/0:.7-$3)#-$/)$8?,3#I9E$ §y ~ ¢y£wv¦ £ x w wx xy~u~u |x w '3B0!"$D63) R9;7 ]1)E3 01 -" ?3=?"7-0-" C,DR9)7 $1?-$ #A/"#-$:$18( ;]1)E3 01 -" C,DG36/)$8?,3#I9E$:aK-DI\-?$3)E\-C?"A00-"'&(G\-:;<" m #-$'\-0-"!"'&(/3)/-#-F m #-$'\-0-"># m #-$'\-0-")"'&(I90 m #-$;^8K>-)-,C,DNA=>N&=1E.3B"K@B"^-"
lL5#3%7H3A4<4#<8#%%0A&k*/T"BP0+47-34>C3B{
)$12'3 !?7#-$I"3)I"*"#1G#$$8C,DX+$0#-$EA-0_ :K@/( I30+8C,DN*8N"/>A-0EA/:"@(/0 567C#A X+$0#-$67-"#-$FU#2!?7X/#-I!"#-$:$&>"$9767-":'+X"X,>&I-$I":'F :K@(/.>-> R,5;I9A+=-883("+0C,D>3(0>@"!?7#3)I30+8
6P%B#3%PQ30%"=S<7,/=>C/T"BP05:%98H3:p5immK5 67'@=CB//#A:o46P%B#3%>C3B{57"B4)w5 6P%B#3%,CQ'A !k/T"BP0@!9,J0,45 )$1 23 ' 4 $A = 88@ / #3 ) X$0K>-)-,$-N=1 W& ! "#-$ I"3)I"*"#1G#$$8)$1G-+X,?1E :K@(/"\-X,?1E'&(567$3)#-$ )$1G-+5;$3#2-R97;f=>'&(:.7-$3))$1#-$X,?1EG\-"="8-# X6> G36.U"B :;<";$DG\-'*#_ ` :6@/" 8&R)79 $1G-+X,?1E G\-"=" `b` +" +16:;<" T`djsqq H&H&
#3%/=%0./B&4"#B348H3@4#>30>H3@ 4CB55:p5immK E\-C?"A0 =1F=#$ NA-0:'+"1+ K"3#0-"'3(=5;
G\-"=" M+"P Zddr kTb Tbd db
#3%/=%0&4"#B34+ 0C55:p5immm5q5immK N@(/:$@(/0
G\-"=" M+"P Zddr Zddk Zddd
;^8"1:'FK"3#0-"!?8A m #[$D:)&>).7/)30+3))$123' Tsr m $D))#-$)$1?-$G36#-$67-"+*%O-K +=-8;,/6O3>C,DI1(0C=6,7/8
bss ZrT
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%) *+,,-
129
)$123'4 I"3)I"*"8/):+$@(/0!N75 e-C,D/*;#$%L I\-"3#0-"'&(58A!N7C,7=!?7#3)89,"1S1I="C#7= X6>89,"1S14 GD :.7-8-$3)/*;#$%L4 % I\-"3#0-"!?VA '*#_ b :6@/"
)$123'4 $A=8I"3)I"*"8/)C=A"E-#3"C66 G\-"=" Tjkrl /3" !?7#3)IO-#-N-65'> :K@(/NA=>:?,@/R97;f=>!" G30?=36EA-0_ '&(8&; V?-'-067-"I->E- :NA" E-E7/#$DG# E-E7/,8 :;<"E7"
)$1 23 ' 4 I"3 ) I"* " #1 G #$$8#& -8=,N" :a,18K$D:#&>$E1=3"C8AC?A0N-E1 TZ I10?- ¥-,L 8-$-S/" #$*0:'K4 ZqTb :K@(/R97;f=>X$+8D:$Y0:E7"8 X$0K>-)-,G* -,0#$%L IO-#-N-65'> )$123'4 I"3)I"*"#-$C.A0.3"#/,L +$3B0'&( TTJZddr G36X6>I8-+8IA0:I$18IW-)3"#$$8#-$ )$123'5'>
130
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
)$123'4 $A=88@/#3)IO-#-N-65'>!"#-$I"3)I"*" X+$0#-$)$1G-+X,?1E:K@(/NA=>:?,@/C,D69C,$3#2-R97;f=> HU(0#1G#$$8G36.UB" % G30?=36$D>/0
)$12'3 4 I"3)I"*"8/):+$@/( 0+/8K1=:E/$L G\-"=" Tq :+$@(/0 C,D/*;#$%L#-$:$&>" K$7/8'3B0I$7-0?,30+67 - "?"7 - I\ - "3 # 0-"R9 7 /\ - "=>#-$!?7 #3 ) X$0:$& > ")7 - " I/0K&("7/0 G30?=36$D>/0
6P%B#3%7-34#3%DM#E3 )$1 23 ' 4 G3 6 #1 G #$$80-"=3 " :6Y # C?A 0 N-E1 C,D I"3)I"*"I10( ./0 /*;#$%L#-$:$&>"C,D+/8K1=:E/$L G\-"=" Zq :+$@(/0!?7#3)X$0:$&>"=36?"/0I$D G30?=36/*'3>S-"&
)$123'4 I"3)I"*"8/):+$@(/0+/8K1=:E/$L G\-"=" Tq :+$@(/0 C,D/*;#$%L#-$:$&>" K$7/8'3B0I$7-0I"-8:6Y# :,A " !?7 #3 ) X$0:$& > ")7 - "X""+3 6 :+7 - +* > #/# G3 0 ?=3 6 8?-I-$+-8
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%) *+,,-
131
)$123'4 I"3)I"*"8/)$/0:'7-C,D:I@B/R7-"3#:$&>" K$7/8'3B0:01"I8')'*" #-$FU#2-!?7#3)"3#:$&>" % X$0:$&>")7-"I/0K&("7/0 G30?=36$D>/0
)$123'4 I"3)I"*"8/) ?"30I@/O-2-V&(;*f" G\-"=" bk N*6 % 8?-=1'>-,3>F1,;-#$ =1 ' >-:.EK$D$-N=3 0 I"-8 G3"'$L G30?=36"+$;^8
)$12'3 4 I"3)I"*" 8/)?"30I@/67-"=1F=#$$8 5/'& "1E>I-$ C,D?"30I@/ /@( " _ G\ - "=" rZq :,A 8 % 8?-=1 ' >-,3 > 8?1 6 , G30?=36"+$;^8
X+$0#-$67-"I1(0C=6,7/8 )$12'3 4 $A=88@/#3) I\-"3#0-""1+/*EI-?#$$8 )-0;9!"#-$$A=8/"*$3#2L C,D;,9#;f-N->:," :K@(/ /"*$3#'$3K>-#$S$$8N-E1 C , D I1( 0 C = 6 , 7 / 8 % F9 " > L FU # 2 - S $ $ 8 N - E1 # / 0 '3 K ) # G3 0 ? =3 6 I8*'$;$-#-$
132
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
X+$0#-$ ¢p ;$DG\-; Zddr
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%) *+,,-
133
mL5 PQ30%"=S<7,/=>C/T<*B@Q7!-/0@!903>% 34 Tc #-$6\ - :"1 " 0-"./0)$1 23 ' 4GDE7 / 0I/6+,7 / 0#3 ) PQ30:!/72"' #[?8-> C,D.7/#\-?"6/@("_'&(:#&(>=.7/0!"67-"/-N&=/"-83>
)$123'4 6\-:"1"S*$#1GX6>;$D>*#EL!N7.7/#\-?"6./0 8-E^-"$D))#-$G36#-$67-"/-N&=/"-83> +=-8;,/6O3> C,DI10( C=6,7/8 M o¢{¢ TlqqT Zqqr 8/#c TlqqT Zddb C,Dt¢ TbqqT ZqqbP $=8'3B0I"3)I"*"#1G#$$8!"67-" #-$K3i"- #-$/"*$3#2LI1(0C=6,7/8C,D#-$!N7K,300-"/>A-0 +*78+A- X6>G36#1G#$$8$%$0+L:K@(/IA0:I$18!?7:#16#-$!N7 '$3K>-#$/>A-0+*87 +A-C,DN-Va,-6 :NA" #-$$%$0+L:$@/( 0#-$ ,6#-$!N7K,300-"5 e- #-$G36#-$.>DC,D./0:I&>'3B0G-# IA="I\-"3#0-"C,DX+$0#-$#A/I$7-0 :K@/( !?7K"3#0-"E$D?"3# !"?"7-'&(C,D+=-8$3)R16N/)EA/I30+8I1(0C=6,7/8
46'=3'/3,)Q/430"'5PQ30:!/72"'5@!9T<*B@Q7!-/0
)$123' XEX>m5'> +/$L;/:$N3(" G\-#36 M8?-N"P 8*A0:"7"!?7+=-8I\-+3V#3)#-$G36#-$67-"/-N&=/"-83> +=-8 ;,/6O3> C,DI1(0C=6,7/8 GU0567#\-?"6"X>)->67-"/-N&= /"-83> +=-8;,/6O3> C,DI1(0C=6,7/8 630"&B
46'=3'5 7- 3 4/3,) Q /430" ' 5 PQ30:!/72" ' 5 @!9 T<*B@Q7!-/0
)$123' XEX>m5'> +/$L;/:$N3(" G\-#36 M8?-N"P :;<" ?"U(0!"R97"\-67-"S*$#1G=1F=#$$8)$1#-$C,D$3):?8-#A/I$7-0 C))+$)=0G$ 8&+=-8:N&(>=N-V!"#-$!?7)$1#-$//#C))j =1F=#$$8)$1#-$j G36H@B/ G36?-=3I6*/*;#$%LC,D$3):?8#A/I$7-0C)):)Y6:I$YGI\-?$3)O-+/*EI-?#$$8C,DX$00-" $=8WU0I10( I"3)I"*"/\-"=>+=-8ID6=#EA-0_ !"#-$R,1E X6> ,9#+7-IA="!?VA:;<"#,*A8X$00-":+8& ;QXE$:+8& X$0#,3(""\B-83" C,D#¨-H X$0;*©>C,DX$05 e- :;<"E7" )$123'4 !?7+=-8I\-+3V/>A-0I90I*6EA/+=-8;,/6O3> C,D/-N&=/"-83>./0K"3#0-"j +9+A -7 j R9'7 8&( I& =A ":#&>( =.7/0EA-0_ $=8WU0#-$;e/0#3"R,#$D')EA/I10( C=6,7/8 )$12'3 4 GU0CI60 :GE"-$8%L '&( G DI$7 - 0C,D$3 # 2-5=7 HU( 0 IO-K#-$'\ - 0-"'&( ;,/6O3> 58A8&#-$)-6:GY)?$@/#-$:GY);f=>G-##-$'\-0-" C,D;e/0#3"#-$:#16R,#$D')EA/I1(0C=6,7/8 67=>+=-8E$D?"3#WU0+=-8I\-+3V./0$D))#-$)$1?-$ G36#-$67-"/-N&=/"-83> +=-8;,/6O3>C,DI1(0C=6,7/8 )$12'3 4 GU0567"-\ :/-$D))#-$)$1?-$G36#-$67-"/-N&=/"-83> +=-8;,/6O3>C,DI1(0C=6,7/8:.7-8-:;<"IA="?"U(0!"#-$ 6\-:"1"0-"./0)$12'3 4 C,D:K@/( !?7)$$,*E-8:;e-?8->'&E( 03B 5=7 ;$DS-":G7-?"7-'&()$1?-$C,D#$$8#-$R97G36#-$!?VA./0 )$123'4 GU0567#\-?"6"X>)->/-N&=/"-83> +=-8;,/6O3> C,DI1(0C=6,7/85=7 630"&B
134
!"#!$% &'(!%) *+,,-
+=-8;,/6O3 >C,DIO-KC=6,7/ 8!"#-$'\ - 0-"C,D#-$ ;e/0#3"R,#$D')EA/I1(0C=6,7/8 Zc "X>)-> .7/89, .A-=I-$ 67-"/-N&=/"-83> +=-8 ;,/6O3>C,DI10( C=6,7/8GDE7/0W9#I@/( I-$5;>30K"3#0-" +9+A -7 C,DR978&IA=":#&(>=.7/0:K@(/!?7:.7-!G )')-'?"7-'&(+=-8$3) R16N/)C,D;]1)3E1567/>A-0W9#E7/0 `c =3EW*;$DI0+L67-"/-N&=/"-83> +=-8;,/6O3>C,D I10( C=6,7/8./0)$12'3 4C,DX+$0#-$'*#C?A0$=8WU0$D))#-$ E16E-8j =36R,C,D+=)+*8GDE7/0W9##\-?"6.UB" :K@(/E16E-8 ;$DI1' S1 R ,./0#-$6\ - :"1" 0-" 67 - "/-N&= /"-83> +=-8 ;,/6O3>C,DI1(0C=6,7/8 bc $D:)&>);]1)3E1C,D:/#I-$'&(:#&(>=.7/0!"67-"/-N&= /"-83> +=-8;,/6O3> C,DI1(0C=6,7/8./0)$123'4 C,D X+$0#-$ GDE7/0W9#G36'\-.U"B C,D"\-5;;]1)E3 E1 -8 :K@/( !?7#-$ 6\-:"1"#1G#$$8EA-0_ ./0)$12'3 4 :;<"5;67=>+=-8;,/6O3> C,D+\-"U0WU0I1(0C=6,7/8 dc '$3K>-#$EA-0_'&G( -\ :;<" GD567$)3 #-$I"3)I"*"!?7:K&>0 K/EA/#-$6\-:"1"0-"E,/6G"#-$69C,$3#2-C,D;$3);$*0 K3 i "-$D))#-$)$1 ? -$G3 6 #-$67 - "/-N& = /"-83 > +=-8 ;,/6O3>C,DI1(0C=6,7/8 kc "X>)-> C,D=3EW*;$DI0+L67-"/-N&=/"-83> +=-8 ;,/6O3>C,DI1(0C=6,7/8./0)$123'4 GDE7/0W9#')'="X6> R9)7 $1?-$$D63)I90:;<";$DG\-'*#; :K@/( ')'=";$DI1'S1R,./0 #-$6\-:"1"0-" C,D+=-8:?8-DI8#3)IO-=#-$%L./0"X>)-> C,D=3EW*;$DI0+L 630#,A-= $=8WU0 8/0?-X/#-I!"#-$ ;$3);$*0C,DK3i"- $D))#-$)$1?-$G36#-$67-"/-N&=/"-83> +=-8;,/6O3>C,DI1(0C=6,7/8./0)$123'4
PX9#%%0#3%PQ30:!/72"'5/3,)Q/430"'5@!9T23& @Q7!-/0+4#3%$H3B34
)$123' XEX>m5'> +/$L;/:$N3(" G\-#36 M8?-N"P 567G36!?78&+%D#$$8#-$+=-8;,/6O3> /-N&=/"-83> C,D IO-KC=6,7/8!"#-$'\-0-" :K@(/'\-?"7-'&(!"#-$IA0:I$18 I"3)I"*" #1G#$$867-"+=-8;,/6O3> /-N&=/"-83> C,D I1(0C=6,7/8./0)$123'4 :K@(/!?7#-$)$1?-$0-"67-"+=-8 ;,/6O3> /-N&=/"-83> C,DI1(0C=6,7/8./0)$123'4 :;<"5; 67=>+=-8:$&>)$7/>C,D8&;$DI1'S1O-K X6>+%D#$$8#-$N*6 ; GG*)3"8&=-$D#-$6\-$0E\-C?"A0 "3)E3B0CEA=3"'&( Td 81W*"->" KcFc Zddk WU0=3"'&( Tb 81W*"->" KcFc Zddl MZ ; P
JOY OF ENGINEERING AND ACHIEVEMENT
+%D#$$8#-$+=-8;,/6O3>4 ;$D#/)67=>I8-N1#630"&B Tc "-0I*$3E"- E %$E"D Zc "-0I-=G-$*=$$% I*.'3(=V-E1 `c "->I$$+L !GI0ªL bc "->/$$W=3i"L )*V>F3#61«:I$& dc "->I8)9$%L :ENDF$&=$#*, kc "->I8N-> #,A/8$3#2rc "-0I-=S"3NK$ I=3I6& lc "-0I-=F1$1K$ :?,A-O$EE$D#9, sc "-0I-=#*VS1,3#2%L /* -$:IW&>$ Tqc "->)*%># E :I-=$$% TTc "->%3^K, I1".G$
JOY OF ENGINEERING AND ACHIEVEMENT
;$DS-"+%D#$$8#-$+=-8;,/6O3>4 #$$8#-$ MR97C'""->G7-0$D63))30+3))3VN-P #$$8#-$ MR97C'""->G7-0$D63))30+3))3VN-P #$$8#-$ MR97C'""->G7-0$D63))30+3))3VN-P #$$8#-$ MR97C'""->G7-0$D63))30+3))3VN-P #$$8#-$ MR97C'",9#G7-0P #$$8#-$ MR97C'",9#G7-0P #$$8#-$ MR97C'",9#G7-0P #$$8#-$ MR97C'",9#G7-0P #$$8#-$ MR97C'",9#G7-0P #$$8#-$C,D:,.-"*#-$ MG;c=1N-N&KP
!"#!$% &'(!%) *+,,-
135
136
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
#3%7H3A4<4B347-34/3,)Q/430"'5PQ30:!/72"'5@!9T<*B@Q7!-/05:p5immK55
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%) *+,,-
137
#!'J$I(#3%=%< 3%8"7#3%7-34T<*B@Q7!-/0
)$12'3 XEX>m5'> +/$L;/:$N3"( G\-#36 M8?-N"P 567#-\ ?"6 67-"I10( C=6,7/8:;<"5;/>A-08&;$DI1'S1O-KC,D8&#-$;$3);$*0 #,>* ' SL # -$)$1 ? -$G3 6 #-$67 - "I1( 0 C=6,7 / 8E-8?,3 # #-$ />A-0EA/:"@(/0 630"&B { M zyum m w ¡m{ vP :K@/( !?7#-$)$1?-$G36#-$ ,\-63)
.3B"E/"
T
#-$=-0CR"0-":K@(/ !?7)$$,*WU0=3E*;$DI0+LC,D :;e-?8->'&(E7/0#-$
Zc
#-$;]1)3E1E-8.3B"E/"!"CR"0-"
`
#-$E$=GI/)R,#-$6\-:"1"0-"
b
#-$;$3);$*0C#75.CR"0-" E-8+=-8G\-:;<"
138
!"#!$% &'(!%) *+,,-
=3EW*;$DI0+L#-$6\-:"1"#-$ Tc ;$D:81"+=-8I/6+,7/0./0#[?8->67-"I1(0C=6,7/8 ./0X+$0#-$ Zc #\-?"6CR"#-$6\-:"1"#-$67-"I10( C=6,7/8./0X+$0#-$ `c G36'\-CR"#-$,6#-$!N7K,300-"5 e-./0/-+-$I\-"3# 0-"N3(=+$-= ;$DG\-X+$0#-$#A/I$7-0 C,DCR"#-$ +=)+*8;e/0#3"R,#$D')EA/N*8N" bc G3 6 '\ - CR"#-$)$1 ? -$G3 6 #-$C,D#-$+=)+* 8 67 - " I1(0C=6,7/8 dc ;$D:81";$D:6Y"; V?-I1(0C=6,7/8./0X+$0#-$ Tc 6\-:"1"#-$E-8CR"0-"67-"I1(0C=6,7/8 Zc ;]1)3E1E-88-E$#-$+=)+*8;e/0#3"C,D,6R,#$D') EA/I1(0C=6,7/8C,DN*8N" E-8'&($D)*!"CR"#-$)$1?-$ G36#-$C,D#-$+=)+*867-"I1(0C=6,7/8 Tc E16E-8E$=GI/)#-$6\-:"1"#-$E-88-E$#-$+=)+*8 ;e/0#3"C,D,6R,#$D')EA/I1(0C=6,7/8 Zc E$=G;$D:81"#-$6\-:"1"#-$E-8CR"#-$)$1?-$G36#-$ C,D+=)+*867-"I1(0C=6,7/8 Tc ;$DN* 8 ;$DG\ - I3 ; 6-?L :K@( / $3 ) '$-);$D:6Y " ; V ?I1(0C=6,7/8'&(:#16.UB"O->!"X+$0#-$ :K@(/#\-?"6C"= '-0C#75.;e/0#3" Zc E$=GE16E-8#-$6\-:"1"#-$E-8#[?8->I1(0C=6,7/8
JOY OF ENGINEERING AND ACHIEVEMENT
PQ3023P210+< 8./B=%<E$" 56>6'yG$'F5 )$123' XEX>m5'> +/$L;/:$N3(" G\-#36 M8?-N"P 567 ;$DI)+=-8I\-:$YG!"#-$6\-:"1"0-"67-"+=-8;,/6O3>!" CEA,DX+$0#-$ $->,D:/&>6630EA/5;"&B
R97=A-G7-0 '&(E3B0X+$0#-$ ,3#2%DX+$0#-$
)$123' K&'&'& :/Y8H&H& 5)X/:+8 G\-#36 "1+8/*EI-?#$$8:/:N&> G30?=36$D>/0 ;$D:'F5'> X+$0#-$#A/I$7-0X$00-"R,1EI-$E3B0E7" §~ m | ~u~ { ~} M§¢{P C,D X$00-"R,1E:8Y6K,-IE1#N&=O-KN"16 z¦¬|v¦zwuw ¢| ~uyvw M §¢P X6>!N7"\B-E-,:;<"=3EW*61)E3B0E7"
+=-8I\-:$YG 67-"+=-8;,/6O3> ;]1)3E10-" Tjqqqjqqq N3(=X80#-$'\-0-" X6>58A8&/*)3E1:?E*WU0.3B"?>*60-" M {P =3"'&(567$-0=3, K 2O-+8 Zddr
R97=A-G7-0 '&(E3B0X+$0#-$ ,3#2%DX+$0#-$
)$123' 5//-$LK&H& +,&" K-=:=/$L G\-#36 :.E;$D#/)#-$/*EI-?#$$8 5//-$LK&H& G30?=36$D>/0 ;$D:'F5'> X+$0#-$#A/I$7-0X$05 e-K,30 +=-8$7/"$A=8
+=-8I\-:$YG 67-"+=-8;,/6O3> ;]11)3E10-" Tjqqqjqqq N3(=X80#-$'\-0-" X6>58A8&/*)3E1:?E*WU0.3B"?>*60-" M {P =3"'&(567$-0=3, Tl S3"=-+8 Zddr
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%) *+,,-
139
R97=A-G7-0 '&(E3B0X+$0#-$ ,3#2%DX+$0#-$
{ c Z ~uv ¢v ¡ ®yu¦ m ¯t { o :.E/*EI-?#$$8 yu u :8@/0 y y~ ;$D:'F:=&>6"-8 X+$0#-$#A/I$7-0X$00-"R,1E;*©> /E: I
+=-8I\-:$YG 67-"+=-8;,/6O3> ;]1)3E10-" `jqqqjqqq N3(=X80#-$'\-0-" X6>58A8&/*)3E1:?E*WU0.3B"?>*60-" M {P =3"'&(567$-0=3, l :82->" Zddr
R97=A-G7-0 '&(E3B0X+$0#-$ ,3#2%DX+$0#-$
~u~u w ~ yz tu}| vx¦ o z}~u x® xyv~ u v}c M t P :8@/05'>)1" ;$D:'F:=&>6"-8 X+$0#-$#A/I$7-0X$00-"C/8X":"&>85":E$E +=-8?"-C"A"E\(-
+=-8I\-:$YG 67-"+=-8;,/6O3> ;]1)3E10-" `jqqqjqqq N3(=X80#-$'\-0-" X6>58A8&/*)3E1:?E*WU0.3B"?>*60-" M {P =3"'&(567$-0=3, Zd #3">->" Zddr
140
!"#!$% &'(!%) *+,,-
JOY OF ENGINEERING AND ACHIEVEMENT
nL54Q">#%%0./B=%<E$" $)P* 3H 4MBOMBPQ30%"=S<7,/=>C/ !"#¨-H #A/":.7-:+$@(/0>"EL#¨-H:K@(/R,1E#$DCI5 e- X6> #$DCI5 e-'&(R,1E567GD.->!?7C#A#-$5 e-IA="O981O-+ T"BP0
)$12'3 4 8&"X>)->67-""=3E#$$8!"$D63)#$D)="#-$ EA/5; #1G#-$./0)$123'4 "/#G-#GDI$7-0$->567:K@(/!?7 '\-0-"C,D!"$D63)/0+L#$630EA/5;"&B )$123'4 I-8-$W6\-:"1"S*$#1G5;567/>A-0$-)$@("C,7="3B" S*$#1G "&B>30I-8-$WNA=>,6;$18-%8,O-=D'-067-"I1(0C=6,7/8'3B0 4Q">#%%0+4%97"=#3%7H3A4<4B34 Tc #-$;$3);$*0+A-"1>8/0+L#$ X6>$%$0+LC,DIA0:I$18 '-0E$0C,D'-0/7/8 /&#'3B0>30I/6+,7/0#3)C"='-0#-$ +=-8$3)R16N/)EA/I30+8C,DI10( C=6,7/8./0K"3#0-":K@/( !?7 K3i"-'&>( 03( >@"'30B !"67-"I10( C=6,7/8 :F$2^#1G C,DI30+8 X6> I-8-$WI$*;567630"&B :#16:;<"K E1#$$8./0/0+L#$ n #-$R,1E5 e-G-#K,300-"'6C'" #¨-HN&=O-K'&!( N7 Zc #-$IA0:I$18#-$8&IA="$A=8./0K"3#0-"!"#-$'\#1G#$$8:K@(/I30+8 '3B0#1G#$$8'&()$123'4 G36.UB"C,D#1G#$$8 :;<":N@B/:K,10I\-?$3)#-$R,1E#$DCI5 e- :;<"K,300-" '6C'"'&( ! ?7 ; $DX>N"L / >A - 0N3 6 :G"!"67 - "#-$$3 # 2'&(K"3#0-"$A=8#3"+16$A=8#3"'\`c )$123'4 567K3i"-;$3);$*0$D))#-$G36#-$67-" I10( C=6,7/8X6>$=8 '30B !"C0A#-$,68,K12C,D,6#-$ !N7:N@/B I1(0C=6,7/8 X6>8*A0:"7"'&(#-$G36#-$#3)R,#$D')G-##-$ :K,10 '6C'"#-$R,1E5 e-G-#K,300-" /IH1, G\-K=# 6\-:"1"0-"./0)$123'4 :NA" #-$;e/0#3"#-$:#168,O-=D'-0 WA-"?1" #¨-HS$$8N-E1 C,D;QXE$:,&>8 n #-$,68,K12'-0"\B- :"@(/067=>$D)))\-)36"\B-:I&> /-#-F 8,O-=D'-0"\B- #-$G36#-$:F2=3I6*:?,@/!N7G-#0-" #A/I$7-0 C,D #-$;e/0#3"R,#$D')EA/I10( C=6,7/8C,DN*8N" C))5$7/-#-F'&('-0)$123'4 :,@/#!N7 :;<"$D))'&(8&/3E$->A/> X6>"\-8-E$^-"$D))#-$G36#-$I1(0C=6,7/8 E-8 t¢ I,->I-$/1"'$&>L!""\B-:I&>567!";$DI1'S1O-KI90 +A-+=-8 TbqqT Zqqb 8-;$D>*#EL!N7 :K@(/!?7R,#-$6\-:"1"0-"6&#=A- I#;$#!""\B-:I&>?,30RA-"#-$)\-)36GU0?,0:?,@//>9A"7/>8-# n #-$,68,K12'-0/-#-FC,D#,1"( #¨-HN&=O-K'&:( #16 :#% L8-E$^-"'&(#[?8->#\-?"6 '3B0"&B$D))#-$G36#-$67-" I1(0C=6,7/8./0)$123'4 567$3)#-$E$=G;$D:81":K@(/$3)$/0 .UB"G-##-$>A/>I,->!"$D))5$7/-#-F X6>8&/0+L;$D#/) $D))G-# )$123' /1":E/$L:'+ /1"63IE$&IL C/"6L :H/$L ?,3#/3"567C#A #¨-H8&:'"j #¨-H+-$L)/"56//#5H6L C,D#¨-H E1 Q:+N3(" :H/$L=1I M;$D:'F5'>P G\-#36 C,D567$3)#-$$3)$/0 5¥X6$:G"H3,5 6L?$@/#¨-H5.A:"A- GD"\-5;:;<":N@B/:K,10?,3# I\-?$3)#-$R,1E#$DCI5 e- "/#G-#GD58AI0A #,1"( $)#="!?7 :8@(/=3"'&( Tq E*,-+8 Zddr +"!"K@B"'&(C,7= >30:;<"#-$,6#-$;,A/>#¨-H:$@/"#$DG# M°xwwu | w y P ;,A/>//#I9AN3B")$$>-#-F!"/&#'-0 4Q">#%%0+4%97"=/BP(#% Tc )$123' XEX>m5'> +/$L;/:$N3(" G\-#36 M8?-N"P ?"U(067=> n #-$567$)3 +-$L)/":+$61E ;$D:O''&,( 6;$18-%#-$ 567G63 E30B )$12'3 5)X/ C"N:N/$3, :/Y":"/$L>& G\-#36 :K@/( 6\-:"1" #1G#-$:#&(>=#3)#-$R,1E#$DCI5 e-G-##¨-HN&=O-K HU(0 ;,A/>567 M p wxv~±w} ~ ~ u pw}| v~ u P E-8 :;<"K,300-"?8*":=&>"'&(5678-G-##-$"\-"\B-:I&>?,30RA-" X+$0#-$#,5##-$K3 i "-'&( I D/-6M zwyu #$D)="#-$R,1E:/'-"/, X6>!N7#-#"\B-E-,?$@/X8,-I:;<" w wz ® wuv w yu~ P :"@(/0G-#'-0)$123'4 567:.7=3EW*61)?,3# 8->A/>I,->O->!")A/?83##¨-HN&=O-KC)) $A=8X+$0#-$ X6>I$7-0:;<"X+$0#-$$A=8 M¬~zyvwxyzP 5$7/-#-F M{uywx ¬~ vxwyv wuv ¦ vw P #¨-HN&=O-K'&( '&(8&.UB"$D?=A-0'-0)$123'4 :/0C,D#$D'$=0I1(0C=6,7/8 C?A0 567GDW9#;$3);$*0+*%O-K!":)@B/0E7":K@(/>@6/->*#-$!N70-" ;$D:'FV&;( "f* 630"3"B ;$18-%#¨-H:$@/"#$DG#'&I( -8-$W,6567 ./0:+$@/( 0>"EL/"3 567C#A #-$.G36;$18-%H3,: /$LC,D+=-8N@"B X6>58A567;,A/>//#I9NA "3B )$$>-#-F"&B I-8-$W6\-:"1"#-$:K@/(
JOY OF ENGINEERING AND ACHIEVEMENT
!"#!$% &'(!%) *+,,-
141
"\-5;./!)$3)$/0!"$9;./0 p C,D p '&(567$3)"&BGD :;<"$->567/&#'-0?"U(0./0)$123'4 :8@(/"\-5;H@B/.->!"E,-6 +-$L)/" n $->567 G -##-$.->5 e - IA = "?"U( 0 GDW9 # ?3 # :.7 #/0'*"K3i"-5 e-E-8$D:)&>)./0+%D#$$8#-$#\-#3) #1G#-$K,300-" ?$@/ ##Kc X$05 e-"&BW@/=A-:;<"X$05 e."-6:,Y#C?A0?"U0( ./0N*8N" '&5( 67:.7-8-8&I=A "$A=8$3)R16N/) EA/#-$K3i"-N*8N"!"K@B"'&(X6>$/)X6>"\-IA0:01":.7-#/0'*" 630#,A-= :K@/( !?7'-0##KcG36I$$:01"!"#-$/*6?"*" #-$K3i"?$@/ " 9'/7 0W1"( ?-#567$)3 R,#$D')G-##-$6\-:"1"0-"./0 X$05 e-
142
!"#!$% &'(!%) *+,,-
Zc )$123' XEX>m5'> +/$L:;/:$N3(" G\-#36 M8?-N"P 567/>9A$D?=A-0'6,/0X+$0#-$"\-$A/0:#&(>=#3) 5)X/K,-IE1# X6>#-$"\-=3EW*61)G-#S$$8N-E1 567C#A C;e0'&(567G-#83" I\-;D?,30 ?$@/C;e0.7-=XK68-RI8#3):8Y6K,-IE1#:K@(/"\5;.UB"$9;:;<"I1(0./0:+$@(/0!N7O-N"DEA-0_ M#$D)="#-$ ²vx|}wxP X6>O-N"D'&5( 678+& % * I8)3E!1 "#-$!N70-"!#,7:+&>0 #3)O-N"D'&(R,1EG-#:8Y6K,-IE1#:K&>0/>A-0:6&>= "=3E#$$8 "&B G D8& I A = "NA = >!"#-$/"* $3 # 2L K ,3 0 0-"C,DI1( 0 C=6,7 / 8 :"@/( 0G-#:;<"#-$,6;$18-%#-$!N7:8Y6K,-IE1#G-#;QXE$:+8& "/#G-#"&>B 03 :;<"#-$,6E7"'*"!"#-$R,1E $=8'30B ,6;$18-% .>D:"@( / 0G-#O-N"D'&( R ,1 E X6>"=3 E #$$8"&B I -8-$W>A / > I,->567
JOY OF ENGINEERING AND ACHIEVEMENT
!"#$%&'(4"::"2%-./06 (Audit fee) !"#$% &'( !"#$%)*+),*-).*-/+ &%0123 !""#$%&'()*+, -./#+0./ !""#$%&'/1!"2& 345& ,./6.728 / 9-./:/;; !"#$!%%& ".3;21<+!"=):>' ( ?,.@!"*3/5A) !""#$%&"1BC3# *D< .E. 9-./:/;"!"%$!)#"'".3' ( ?,.@!"*3/5A) !""#$%&E!0"1BC3# >,!> 9-./:/;*!)%)!+ "'".3' ' !"#$% &"$'()*+(Non Audit Fee) ' "1BC#3 *D<"1BC#3>,! >9,.>?, .@!"*3/?, ."1B+ .1!F4/G;HI40J=)*+, +.1 !"3./*D<'()?-.21I+C. '/+.19#=3-.0"+.170B/'()7 28 /J2@.6+.1@&? :.66.@1K./1.>0./3.0+.170B/;L"#"3&4; MN;*D<+.1'() ?-.21I+C.3.0=)./O.C&!.+1 '()*+, .- /#+0./ !""#$%&;728/9-./:/;%!& ,!#,&'".3 '
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
143
144
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
1. TEC "+)3;*3,<31++.*E401 36;F+?17/175,G53++0
45..-?*@ A@45..-6780!9+7! .&!+3)1/"2(!
!" # $%& '( ) *+& # ,*-. /)0123 45 6 789: '() *+& # 2&) :;<722.297,#!= 7 >??67@;<7 >??77ABC;D B 951 /)06+ # E96< 1=: # FDB2<@;&G/)0123456 7HIJ0C=#B:CB8K8A7 L%HB:BC.B7 !"#*#IJ0,#MN<K22CKB2
.&!+B)+C)*D>
A&#6+#,#KB2K.)P2&B0@;<,*&123KB2
2B:O9&EBKKB2,*&123KB2
-)#EF$30( !"#! $%&'!( #)*! -
3,968
;7 GJK"#!
-
10,907
G;7 !$""%!
+,-.'! !"#! $%&'!(#)*!
!"#$%&&7 '()$%&&6$*+,-/. 0#+1231++)456173.!3.**899(/#;: 1<0#9510=.>'2?7/17@("+)A2B!C$>.7!#D
+,-.'!/-$"01.(.2!(30( !"#! $%&'!(#)*#)445..-6780!9+7.&!+3)1/"2(6!(:-; $<"=*>!
-
-
LMGDN.NG JK"#
.&!+H%I*30(.F$# +#! A &9B04H#78"&#)4.&!+ B+H%A5B+:-30( !"#!
-
A&#6+#M.B9DB #3#KB2,#!=7>?567(72557 OC.CS= 7 EDB#G# 03#77V.WX7;&B#1B677 !" #A&#6+#6=6J B07 TEC7 , *& 1 23 K B 2 MD B @ # < #D B 9& B # 6 M #3 M G3TGK22C@K.123465 Y
MN<K22CKB2A2GEP)1O9&UE3 B2NB2B:KB2 95 0 K ;. B G @ ;& G C= M G B C *" # G. B 7 C= M G B C PC *A+PC$;
9,758 PDB*2510G9!= 72557 123465 C=2B:O9&EBK7TEC EDB#G#710.91 7;&B#1B6 (7!=7>??Q7R7OC.CS= 77 HI0J K39EBKKB2,*&123KB29&B#G3TGK22C
LMGDN.NG JKK%
"01.(.2!(!FG&)*678
!"#$ !%&!'()!
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
145
2. ,)@A1B2."=C-D275<.EF
!""#$%& '& !""#()*+,-.) "/,.0123456
Chiyoda Corporation (G8IH <6> F=JK4H 9I;< ?LM/ +N :></ ,$1OD3 P= B.2MN+:></ $/+25"= Q@R== S<I8=TUUQ=75"=TUUV='&%5W&.3,
"/,.71.81%9:
=$&2-./)&##&$S:/,$1#&$
#1;<=>0+6?,4;,??>@/A,6 ;1%
XVY,183
G) CHI!"
3,628
CG) #!!$
.B#"A,?,4;,? ?>@/A,6;1%
-
JKC9L"LC HI!"
!"#$$%#&$'$()*+,-./0)1 &$!&$&2#&$ .34#56&(75/(%8 (&%9:;<(6&%8 (&%= *%9:'>*%?5
"/,.D@E%0+6"=>;??.;,? '?/-7+ D;)*4/;1 "/,. 7.D@'!7.F#0+6?,4;,?
!"#$$%#&$'$()*+,-./0)1 &$!&$&2#&$ .34#56&(75/(%8 (&%9:;<(6&%8 (&%= *%9:'>*%?5
5L#:<8]#&$ &/ S<I8 TUU7 9#1.)&##&$S:/,$1#&$ ./&<(1[ (#$$%\= (, >%75"S:/,$1#&$)3.JN]+ (3*.>+>I#$!E B $4#&$==0.40=5/&<,&D=C=S<I8= TUUQ==-%6%F8
400 *W & :$3, 4(.=I8 = TUU6=75"=TUU7=,$1 O3 D %8 $&2-./)&#=====,)@A1B2."C-D275<.EF )W&<(<== XVY@YZ= 5/&<,&D=75"=3.63=5/&<,&D===JKH4 9#1.)&##&$S:/,$1#&$./&<(1[(#$$%\= (, >%= \=S:/ W&I$K#O&75"=#&$S:/,$1#&$)3.JN] + (3* .> +>I#$!EB $4#&$
JKC9L"LC HII$
4+2"6"5,6 =C/1%()*
146
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
3. !"#$%&'()*%+,-%,./01
!""#$%& '& !""#()*+,-.) "/,.0123456
,23 4 05687 89:,;9$: .<=/>;74++'?$ 05687 @ AB/ CD= 4 0= / $)E++25 !"# $%&'' ()*+ $,,- !"# $,,%
"/,.71.81%9:
BH8)*.#5;)V"H/)
./01234/55/.(637.85/.
#1;<=>0+6?,4;,??>@/A,6 ;1%
-
63
9,629
-
CG) #!!$
G) CHI!"
.B#"A,?,4;,? ?>@/A,6;1%
95,822
4,457
JKC9L"LC HI!"
96,2'5
-
JKC9L"LC HII$
4+2"6"5,6 =C/1%()*
=G / 6.;7 HD2 *+ $,,6 !"# $,,7 7.8 :; < >+ ./01234/5 74&=0/> ?@"A / BC/BDE.F 4G/)D) 4.63 "3/)7/< !"# 0.06 "3/)7/< L/>"G / 2;7 @MNH B582 4/55/.(63 7 .85 /.23/ ) D8O D5..>P (63QG/*.M5:/!"# 5/.(637.85/. 4;2@RSED;=2TET*5.UF?Q.H5/. =G/6.;7HD2 *+ $,,6 !"# $,,7 7.8:;<WX56;5 BH8) *.#5;) V"H/)5/.5A E =.3/ HJRetention) 4/5 74&=0/>?@"A/BC/BDE.F 4G/)D) 95&'2 "3/)7/< !"# 96&28 L/>"G/2;7 @MNHB5824/5 5/.(637.85/.23/)D8OD5..>P (63Q/G *.M5:/!"# 5/.(637.85/.4;2@RSED;=2TET*5.UF?Q.H5/. @MNH 4#123.7; QR)B>REN =AH>E7?Q.H5/. QU#5..>5/.L.D4=E7123C48 /.U/./05/. 2;H5"A/D!"3D>+QD/>B6Y)DA/>+QD/> =>B6LT=>V"
7.8 :; < = 0/> ?@ "A / BC/BDE .F 4G / 5; 2 2G/B)8)5/.23/)?.H1II3/C";HH/)=#E/2 J ?@ "A/ BC/BDE.F K
"/,.D@E%0+6"=>;??.;,? '?/-7+ D;)*4/;1 "/,. 7.D@'!7.F#0+6?,4;,?
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
147
#1;<=>0+6?,4;,??>@/A,6 ;1%
!'G/L62FG..G'=;2&'(.G'
"#$%&'()+* +,"- .,/- 01234.*%!!56/"#$%7892 3: !"4(%=;2./82 D: '@/@E*%> -!FG..(F.G'+,".,/- 01234.*% ;<%2 =%&'()+* ! Toyo- Thai Power Holding Pte. Ltd.!6*4%,> - !Coins Capital Pte, Ltd.!9:3;<%2 '23/ ?@!A2.23 -Toyo-Thai Corporation Public !63."&,/> FHG/!–!"4(%.8/2 D: Company Limited(TTCL) 9:3;<%2 '23/?@@!!5BC55!!
"/,.71.81%9:
5. Orient Bio – Fuels "#$%&'()+* +,"- .,/- 01234.*%! ! 56/&'()+* Company Limited Toyo Thai New Energy Pte. Ltd! ( TTNE)! "#$%7892 3: ;<%2 '23/?@! YZ! ! [?@! &'()+* \"#$%7892 3: ;<%2 '23/?@ TBCTT! =% TTNE 7HG%&'()+* Toyo- Thai Power Holding Pte. Ltd.!!PQ4- "#$%7892 3: ;<%2 '23/ ?@!AWW!=% TTNE
4. !Coins Capital Pte.Ltd.
!""#$%& '& !""#()*+,-.) "/,.0123456
-
20,303
-
G) CHI!"
-
-
CG) #!!$
.B#"A,?,4;,? ?>@/A,6;1%
-
-
-
-
JKC9L"LC HI!"
!Coins Capital Pte. Ltd.!K(63*V'G63."&,>/ =%3*V'G'23/?@!AW!!PQ4- "#$%3*V'G+,=- .?2"K,/4.*& 3*V'G"4(%XG.=%#'@"+N"D,/%DG'O
TTPHD !.82/ :D "4(% '@/@E*%> FG.!! !Coins Capital Pte, Ltd. "I:-3 =J2E %*&E%< % .G' .H3E'2G45K'4.G'5'4LMM2G!=%#'@"+N"D,/ % DG'O!!PQ4- JRG'@"E'$FE(%> =%#,!STTU
"/,.D@E%0+6"=>;??.;,? '?/-7+ D;)*4/;1 "/,. 7.D@'!7.F#0+6?,4;,?
K^@.''D.G'V'0FE3&L62IF( G'^G'G/.G' 6*4.?HG0[?20D,K0GD";$%0HGD,K0GD! ED";V<ED7?
AY]YWT ?8.;%,>.G'K2G &'()*+!!Orient Bio –Fuels Company Limited!!=%#, STT7 ".(6FG..G' =;2 & '( . G' 62 G % 0( N 0 .' ' D]! K 0 &K< D[? @ =;2&'(.G'F*6P:>3 0*E 6<3< #.'^O 5K'4.G'!AY.40! ?2G%&G+!
-
-
JKC9L"LC HII$
4+2"6"5,6 =C/1%()*
148
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
"/,.71.81%9:
. Siam GNE Solar Energy !"#$%&'(*) *+!, -+., /0123-)$4456. !"#%$ Co.,Ltd. &'( )(*+",*-).+*-+)!/0*1 234'$56 GNE ) -7.+89;: )< =>+: !:)0(?* * @A* B(?* !"#%$ C -7.+89;: )< =>+: !:)0(? DAE+ !"#%$ GNE *
!""#$%& '& !""#()*+,-.) "/,.0123456
5)'- 0K1 !$ *–*-F"+E=:'09: G<
-'10I ,J:)F'$+
*- -F"+E=:'09: G< !?0?04,-*B'H'2" '4!%1I
#1;<=>0+6?,4;,??>@/A,6 ;1%
-
-
G) CHI!"
741
LDM@AA
CG) #!!$
.B#"A,?,4;,? ?>@/A,6;1%
-
-
JKC9L"LC HI!"
Siam GNE Solar Energy Co.,Ltd*'90: G< -F"+* 24'* !"#%$ &'( )(*+",*-).+*-+)!/0*1 234'$56 GNE ) -N<)I EO:P+$ P+>+'4!'H)P!:4F&Q!F'4! &!FRSS:4N($FF4+BPF)4%"T0/**
"/,.D@E%0+6"=>;??.;,? '?/-7+ D;)*4/;1 "/,. 7.D@'!7.F#0+6?,4;,?
QY?'!!G'4!T!,2P) R5:N2" 4!Y4!40'4! 5$F'(H4,B(:,G1Q,4G-=.+,H4G1Q,4G* PG-=T>PG8(
358 -F"+E=:'09: G< !?0?04,B'H* Siam GNE Solar Energy Co.,Ltd.* Q"5)$T!45)'- 0K1 E+)$T!4 !:)0(?*5*TH)71 UVFI -7.+)$T!4%1PI F9 ',H4)$T!4-F"+ W4'))G%!$N0/J)FX+4Q4!N4Y"O0/
LDM@AA
JKC9L"LC HII$
4+2"6"5,6 =C/1%()*
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
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
149
!"#%$ &'()*+,-')!. /.0!+1)+!%+0)+!2(+%34 !"#%$ )!5%*+678 -7)9"6:;4.)+!7!5). )"<)+!/.0 !"#%$ =>5 !"#%$ 1?.1@AB04 !+1)+!'$0)>?+C<5D3>)$ #E5!+1)+!%3D4 63 0;4.-&/%+0)+!2(+ F'1%$C&7@9+D!+1>56.3 4 1''$0-3G !"#! $% #& '(#)& * +,!"-./ !+1)+!H,( !")+!..)= C"IC)!!D@<$',+62!;4.0<$)!=>5.J7)!EK@=>5)?.L!(+0F!00+.J 9 L+,)!!D= 2! C0<!@9>.'<-)+!H,(2*+7!B) #+%346 )341C/(. 0@=)? >M) 2(+NM(7!5). )+! .J9L+,)!!D,!;.NM!( $ 6,D+.;4-/.0F2!0)+!@%$0G %364 78- J22>=>5-"9" J22>%$C&7 4 !+1)+!A;G.L"-2(+@7!56O%C$9PJ'" @C$L'J)?.L!(+0@C$L'JLG-" 67>;.0@62!;4.0<$)!=>5.J7)!EK@ !CD&7PB0)+!C?+<(+0NM(! $ 6,D+Q?C0@AB04 <*+678 -9?.)+!7!5). RJ!)"</.0 !"#%$ @!CDPB0!+1<?+1%34 678 -7)9"RJ!5H-)+!7!5). RJ!)"<@6Q?-@2?+6Q?+:;G-%34<'$ 6)8 .J7)!EK@)+!<(+0/-L?0@678 -9(-@<+) J22>,!;.-"9" J22>9?+0@S@%$C&7 4 !0!"%)&$ , <*+-C-60"-%34NM(AG.; =>5NM(/+19)>0=>)67>341-L"-%!$: 1K)$-@,!;. <*+-C-60"-%34NM(H ,(=>5 NM(! $ !") +!9)>0)$- @H-/E5%34% 0$ G L.0T?+ 1D32 C+D!. !M(= >5698D H<H-)+!=>)67>341-@=>5 L+D+!P9?.!.0!+2+)$-&'(.1?+0678-."L!5@AB04 <5)*+,-'F'1HQ(!+2+9>+'N?+-/$-G 9.-)+!9?.!.0 !+2+%364 78-."L!5=>5.1M? -:;-G U+-6'31C)$-%J)!+1 1123 45"6!"+ 7894:54; ,#! <=! !"#! >+:?!/#@4A484!0) H-.-+29@ !"#%$ 20D3)+!6/(+%*+!+1)+!!5,C?+0)$-9+D=9?6,8-LD2C!@F'1<57V" 9$ H" ,( 678 -&79+D)W,D+1C?+'(C 1,>$)%!$:1K=>59>+',>$)%!$: 1K@/(. 0$ 2$ @7!5)+I@2*+L$0@,!; 4 . /(.)*+,-'/.09>+',>$)%!$:1K=,?07!56%I&%1@!CD%$0G 678 -&79+DD+9!U+- X $ Q3@6!;4.0)+! 67" '6N1/(.DM>6)341C)$ J22>@,!;.)"<)!!D%346)341C/(.0)$-AB40)*+,-'F'1LD+2D-$) X $ Q3=>5 NML( . X $ Q3! $ .-JX+9=,?07!56%I&%1 !!"# ,!) #! #! #=!#@6BC9D#! B=!E4& 4/!4<FG E#FG":H;8/#@66%00D<FG8!',F0:!,H@B9";/ <!/ID( >5"J4KA4D@#LM>87G4 -.)<+))+!%*+!+1)+!%3=4 L'0678 -!+1)+!!5,C?+0)$-=>(C@ !"#%$ 1$0D3)+!%*+!+1)+!%34 6)341C/(.0)$ J22>%3.4 +<D32C+D/$'=1(0%+0N>7!5F1Q-KH->$)#E5.;4-@6Q?-@)+!%*+0+-!?CD)$H->$)#E5@Consortium ,!;..+<D3)+!=/?0/$-)$-H-RJ!)"<@AB04 !"#%$ D3D+9!)+!H-)+!)*+)$ 'M=>)+!'*+6-"-0+-@'$0-3G
150
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
!"#$!%!&"'() &* "+,('!%-"./#* -* -0112#354 !6)31(!)7*89:;%#!%<2="+>:?&@A&2* /B+75%C !"#!$%&'() !"#$%&'#$()*+$,*-./$01$234#!$()*"2! !.2"56,7Consortium 3$8592 :.,3$8592 9;=< , 9># 4#!$( ) *"2! =,$() *"2! ?8= #$6#&13%&@&144#!:.,A)#*$23 B8C D13&14:@( . ,E(# F ! GA$4"#$!2!H 7I7GCF?8=#$6#=#"A)#*J!2C:.,+$,K3"#$6L7@.1C=!A)#*K#*#$J !"#$ :&( 4 &2! &14:@( . ,E( # F7MN< 4 "#$=2C K$$&13%&@:.,A)#*$23 B8C D139;< % /*#,K*=,9> # /'7 Consortium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onsortium71F(#4 ".'DC8 %?0<1 /'"#$=2CK$$ C24".(#)*;A)#*K*%/@RK*B.:.,%+P!S+%?0<1+$,GFD!LK4- KRC&143$8592 !"#$C>#%!8!4#!K>#/$23GA$4"#$ !.2"56,&147Consortium7!;H73$8592 :.,3$8592 9;$< 32 4#!$()*"2!=,$23B8CD13924H !C'#!$#F$23:.,$#F=(#F !K()!4#!&14@!%141F(#4%+P !18K$,@(1 "2! ) !"#$%&$'( (' )!&*+" -, "./0%!&1",2)' #3.1+443)576 !-8540!8$'9#:;&)!&<3=".>:?(@) 9;B< (#!*#3$8592 S*(%AF*;+$,)2@"8 #$:&(4&2!"2!9#4TR$"8="233RAA.9;1< #=*;A)#*&2C:F'4 9#4B.+$,GFD!L"!2 %.F7 K>#/$237 ITD MN4< *;TR$"8=$23%/*#4#!"(1K$'#4GFT#7 UCivil Engineering)7 12!%+P!TR$"8=9;:< @"@(#4=#"TR$"8="#$ /'3$8"#$9#4)8V)"$$*:33A$3)4=$7 UIntegrated EPC) &143$8592 1F(#4D2C%=!73$8592 :.,7ITD =N4S*(*"; #$:&(4&2!"2!GCF@$4 !"#$+$,*-.4#!71F(#4S$ "PC7; TR$"8=&143$8592 7 W7 1#=*;A)#*%";F< )%!0<14"23TR$"8=&147 ITD !.2"56,&14"#$)(#='#47 ITD %+P!B-$' 32 %/*#D()47 USubcontractor) MN4< !"#$)(#='#4B-$' 32 %/*#D()49;K< >#A2Q3$8592 =,*;"#$%$;F" /'B$-' 32 %/*#D()4@(#4I7 F0<!&'1%K!1:&(4&2!"2!7 GCF3$8592 *;&!2 H @1!:.,%"6XL !"#$A2C%.01"9;< G+$(4 K:.,%+P !T$$*@(1B-F' <!0 &'1%K!19R"$#F7 924H !;H7 ITD "PSC'$32 "#$+Y83@2 S8 *(:@"@(#4=#" B-$' 32 %/*#D()4$#F10<!7I7
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
151
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–'TSS'3H":7#$-NP #$%Q ?=",N"0+>"NA36?=", 3%&(%&(H9:;"+7;?J:J3N-' L39K2:B$6 &0"$5@#$89' Track Record G9+&$14;% 'U'#$89'TEC E:J?$+0"$B$67V;:%:F 'W'' ?=", ,% <%:.@#$89?=",?/:H 7?N0%&3I0?H"AL>36$"N' ?=", ","$XE:0"$AG>+G%:' JKN7Y<"69N>"+N1+* E:KH":LH:;/:0"$K!"7:1:+":7,89* 7;-N&0%&?I>AG>+98*: 9";1' E:&"+J?$+0"$()+* ,-G:"KJ?$+0"$D,>E#P>,"0' #$89 J?$+0"$;-,* ?- >AI G>+7BC :&$14;% ZI$H &% 7#,"2"0B$67;[0!"3%+<%\:"98*:'7M>:'70"#3-' TEC 9"2D,> ","$X7GH"AG>+G%:B$6,I3+":DKH7:8*9+2"0,-LH:;/:0"$K!"7:1:+":;-* +I 0=>" !"#$%&&$14;% 98*:'W'E:03/>,'TEC' >=:E#P> 7:H:0"$E#H&$10"$KH":'Engineering and Design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`'A367BC :ZIHX98 #/:H E:'&2a'M1JNK6]D;NA3:K@^9-0KH=N '&$14;% <12"$5"=>"?=", ,% <%:.@$6#=>"+&$14;% A36'&2a' M1JNK6]D;NA3:K@^ 7BC:DBE:3%0456;-7* 089F #:/:0%:,"00=>"0"$AG>+G%:0%:' :902"0:-F ' &$14%; N%+ ,-0 "$X> = +K/ 3 9! " :"2E:J?$+ $H" +0"$X89 #/H: G9+&$14%; A36 J?$+ $H"+?560$$,0"$G9+&$14;% 'B2% 2/&:% ZIXH 98 #/:H G9+&$14;% B$609&DBKH=NZIHX98 #/:H ;%+F :F1 '_' 03/>,'DKHA0>'(1) TEC X89#/:H $H9N36'2babc'(2)CHIYODA CORPORATION (P-*B/>:^'X89#/:H $H9N 36' _aS (3) ITD X89#/:H $H9N36''R.bc (4) 03/>,ZI&H $1#"$G9+&$14;% ()+* X89#/:H ;%+F JKNL$+$H9N36' caO4'A36Z>":&2aJ0&93'&1 (17: 'A,7:27,:;@' (“GBM”)'$H9N36'6.cS'(5) ZIHX89#/H:98*:9%: B$609&DBKH=N<:%0+":B2% 2/&:% G9+&$14;% $H9N36 O.69'A36']_^'ZI3H +;/:;%=DB'B$6,"5$H * 9N36' T0a6c'''()+* ,-0"$X>=+K/39!":"2$6#=>"+ZIXH 98 #/:H 03/>,L>"+W'?>9:GH"+K-
152
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
!"#$""$%&' ( )*+ , - ./%)0%1$ )"$%&2! 3+1 4$56789 *1" ,' $ (:1$ )41 ;./%) 0%1$ )"$% <%=3 $%)$ :!)<%=>?6 @?) 57/ ($5ABC !=0 %D#$""$%57!=6 E=F ,:!)GH1&2! 3+1 ",+' 5 3 8I ) ",+' 5 -* /'! :1$)5$";6?)J J7;/KD"%%5"$%<%=>6? ;B#? #+< ? B%D"!<9B*1(@"%%5"$%6?)J 0=J ;L;6'$ ;.*@ ABC "%%5"$%!=0 %D;M;6' $ ;4?( N6 :!);TEC 1 6'$ ;;4?( N6 :!); CHIYODA CORPORATION O;6'$ ;4?(N6 :!);ITD O;6'$ ;N,D"%%5"$%678ABC GH<1 %=3$%;M;6'$ ; - :KD678/KD"%%5"$%<%=3$%:!)<%=>?6B%D"!<9B*1(@GH1<%=3$%:!)<%=>?6PI8)95'-Q'4(? N6 :!);TEC 3%2!;CHIYODA CORPORATION ;3%2!;;ITD;*?) ? J ;"$%4?*0= -#-*;R;678 A"78@(:1!)"?<"$%B%D"!<E+%"=#B"4=:!)<%=>6? #I)ABC 9B.*@!=0%DS$@-41"$%F=#$%K$:!)/KD "%%5"$%<%=3$%N,DB%$T#$"!=6E=F,:!);TEC 3%2! CHIYODA CORPORATION ;3%2!;; ITD; 6?)J J7;/KD"%%5"$%4%(#0!<9*14%D3 "? &I):!<A:4- "$%F=#$%K$%$@"$%%D3('$)"? ;; N,D#D*HN,-31"$%*U$A = "$%*?)",'$(ABC 9B*1(@/($505A34+05G,;AF28!B%D.@Q V0H )0+*:!) <%=>6? ;- 0'( :!)./%)0%1$)"$%#?*"$%:!)<%=>6? PI8)- B#? #+< ? 57"$%&'()*+,678/'! :1$)*7;N,D ABC !=0%DB%$T#$""$%57!6= E=F,:!)GH&1 !2 3+1 %$@-3W';/KD"%%5"$%4%(#0!<#D/!@*HN,N,D %$@)$ S$F./%)0%1$)"$%&2! 3+1 *?)",' $(- ! $/4('$57"$%AB,78@ NB,)9B3%2!95'; N,D#D "%D6<4'!/($5ABC !=0%D- "$%*U$A = E+%"=#:!)<%=>6? !@'$)9%
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
153
!"#$%&'()*+!,+-,"./,+01#)23)456)7%8",9'/8:;,-</, "= 7 +5> ?@ A71-; , 9"BC & D# E 5% . ,-E% - F,$( G 5>01# ) B; , "71 8,'-HE',+&%I 1 )(I J K>-""'-A71!"# $% & '( 7; , ),.6)-," L# . ,"K,+-0<= ) 9'/ M; , 0)# ) -,"8,')*+!,+M% 1 -5/ , <E"N 7 025(:+)G251)*+!,+M%1-5/,<9M=02O)J"%I1J",<*M+7+P/F,+68=
./@E6(C58AE+#%?"#.(0(+#%?&/+4-#F,;GD6/+-6H$D.+0?1%;)*I(J !K/!B?G-63KDL@6$BD( .I-( HID.1M(8B(!"#%6/!"#$%&'+#%I"#%;9@( ./0(+KDHID.1M(./0(4/8B(.=@E65*#*NB%+0,56/'%07&8$%@6+%:A<A +#%.14AE*(>14/!O#F;G4#?PQE/6#,<A34+%;8'G-6+%;>! ./0(!?56/'%07&8H(6(#9G
!"#$%&'()*'#*+#%,-#*./0(12(3456/'%07&8*-6* 6&G%#+#%,-#*./0(12(348AE>(-(6($#++%;>!./0(!?9/.$4@6 9:;+%%<+#%56/'%07&8*-6*,;=0,#%:#,#++%;>!./0(!? <A.=A*/=6>4;C?DG&R/!"#%6/G#<+S$<#*>4DF 9:;+%%<+#% 9/.$4@6.8A*'+&'/'4/8B(56/'%07&8*-6*)?*<0C?D+"#$(? 56/'%07&8*-6*,;=0,#%:#,-#*./0(12(34.1M(+%:AC1
154
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
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`aab
U (#*c0)%)('B 60%0*# V 1%;N#(+%%<+#%'%07&8
./0*/1*23453226534*738*79:52;2<23=
U (#*80F# ,#%Q+ V +%%<+#%'%07&8
!"#!$% &'(!%) *+,,-
155
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
+4 1/#15
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
156
!"#!$% &'(!%) *+,,-
%" !!"#$%% * $&*#&%% -+&#&%% *' !$!#+%% .*( $,'#&/% .* !"+#"/% .$&#!/% .*& ++*#$/% * -"+#(%%
I45:!$ !, .J &#:2F @)&- >N52 5% !!#$ $ !"# !$%&'() +4 1/#15 !1.234 % &'#(&)%% '#*,)%% *#--)%% *,,#,,)%% &!#+()%% $#&&)%% ,#",)%% '+#(!)%% (#+!)%%
*! ++!#!%% - "!(#&%% $-#&%% *$ &(!#*%% .*+ &('#'/% .- ++-#&/% .!'#-/% .*( -(*#'/% * (,+#-%%
* +,-./0 +%$ +4 1/#15
&!#&")%% *+#$!)%% ,#"*)%% *,,#,,)%% $$#(")%% *+#,()%% ,#++)%% '*#,+)%% &#'$)%%
*"#"$)%% .-$#"&)/% --&#,-)%% '#!$)%% -,#"&)%% .++#&")/% +-#!()%% *-#$+)%% .--#"+)/%
-*&#&%% .+(#*/% .&-$#(/% -(#-%% .--#-/% (,-#(%% .*,(#,/% "'(#(%% .!&#'/% "+$#$%%
*#*-)%% .,#*&)/% "#-+)%% %% .,#**)/% +#,&)%% ,#!")%% -#!")%% ,#+,)%% -#-")%%
&"#!%% '"#-%% .(+&#&/% (#!%% .,#-/% * *"'#+%% .-$#"/% * *-*#'%% .-"-#,/% &$'#'%%
,#"$)%% ,#!+)%% +#!&)%% %% ,#,,)%% (#"+)%% .,#*!)/% (#-&)%% *#+!)%% "#'+)%%
*!'#,+)%% .*+&#+()/% -'#!()%% +,"#'!)%% **,*!#,,)%% ."$#!()/% -&$#-!)%% .!!#$")/% .$!#(()/% .!,#-()/%
*#-%% "+&#'%% %% "(,#"%% .--#&/% "+$#(%% ,#&-%%
,#,*)%% -#"$)%% %% %% %% %% %%
*,$#-%% '&$#*%% %% &('#(%% *,#+%% &$'#'%% *#(+%%
.,#(,)/% (#"*)%% %% %% %% %% %%
.'&#&&)/% .!!#!")/% %% ."$#,()/% .+-*#(')/% .!,#-()/% ."'#!()/%
./0*/1*23453226534*738*79:52;2<23=
!"# !"#$%&"!'() "!*+,- .- /01/23'&4 !56- 74!* 89:9:;;"!*+,!"#$%&!'()*+,(-./0)12345 65*708&"04"95:!2 35)*+,(-./05;6<5)(2,3)9=#4174>= 5 ??@ - AB!1+C5EPC !"#$%&C"11"!1D3E!&"FG8HI:&4!+ 1"!#7FJF)>K 0G:8DF9=,("-3F!"#$%&("11'D"5L6<5-3F!"#$%&!'(5M%# N5MJ!F1"!:8719=,!74!O&!"#$%&("11'D"5P6<5-3F!"#$%&!'(5J235MJ!F1"! Qatar’s Desalination5G8HMJ!F1"! M!F$QQ& "5PPTC/SSUT5R5MJ!F1"!5)>K 0CS" 0'05RT?5*708&"04"95MJ!F1"!1D 3E!& " FM!F$QQ& " 5IRPC5I0 >!H)9U5 5MJ!F1"!)>K 0CS"0'05RT65*708&"04"95G8HMJ!F1"!5USA’s Skyonic Skymine5)>K 0CS"0'05 T65 *708&"04"95)02,3FC"1MJ!F1"!1"!VW"& 5G8HE:!7X3)(!+ 1"(=J'"()E!K CE(4O!YV("11'D"5L?<5I0>= 5 ??P5-YH9=, MJ!F1"!1D 3E!& " FM!F$QQ& "I0>!H)9U5?5MJ!F1"!#7F (= (O 8 JD " F"09=, # F7 $(D !7 4 !O & )>K 0("11'D" 5?6<5%7F 07/0 J"%1"!YV$%&'"D 5MJ!F1"!1D3E!&"F5PPTC/SSUT5G8H5IRPC5!'(97/FMJ!F1"!5RAPID’s SCC I0(")8)Z= #9=,!74 E7[["C&"FI0>8"#>= 5 ??P5Z.,FCH)>K 0!"#$%&:871-3F4!+ \97 I0>= 5 ??] - AB!1+CM!F$QQ& " !"#$%&C"11"!1D3E!&"FW"(E7[["E7(>9"08%8F5 ;T]5 *708&"04"95 :!2 38%8F5 P<5 5 C"1>= 1D305 )>K 0 ^8C"1J'"(J24:0&"MJ!F1"!9=,4!+ \97 8F9B0I0M!F$QQ& "5 120MW CCGT5 )(23F#D"F1BF& 5 >!H)9U5 )(=#0("!V (Ahlone Project)5 9=,1"S 87F3#OID 0_D'FEB %9&"#-3F1"!1D3E!&"F5 Y5 E+/ 0>= 5 ??P5 MJ!F1"!(=J'"()E!K CE(4O!YV ("11'D"5L?<5G8HF"0ED '09=,):823J"%'D"CHG8&')E!K CI0_D'FW&0>= 5 ??] !"#$%&C"11"!4!+ :"!F"0M!F$QQ& "`O14709.1)*+,(-./05R5)9D"5)>K 0CS"0'05 R958&"04"95)>K 0^8C"1 Ahlone Project5$%&%"S )0+01+C1"!)WK(>= )>K 0J!7/FG!15Z., F1"!%S")0+ 01+C1"!I0>= 5 ??P5#7F3#OID 0_D'F5Simple Cycle5 %&'#^8^8+W$QQ& "9=,5]6MW5I0_D'F5Combined Cycle5J"%'D"G8&')E!K CI0J!., F>= G!1-3F>= 5 ??]5CH9S"I:&1"S 87F 1"!^8+W-3FM!F$QQ& ")*+,(-./0)>K 05; 6 MW5031C"1AB !1+C EPC G8&'!"#$%&C"15Ahlone Project5CH(=494"9 ES"J7[WD3a"*!'(-3F^81"!%S")0+0-3F4!+ \97 I0>= 5 ??] 89:98;.- /01/23' !< +"=>?/.- / !!
"#$%&' !
(' )*+)!
",-"#$%&' !
"!
"#$%&' .#//#"/012"' #345678' 9": /#" "#$%&' .#//#"/012"' #32;<<#2;-=*#) "#$%&' .#//#"9": 8#"3#)>"3%??' #
#$%&&'($!! #%$-#(-!! /-(-!!
)#*%$+,(-.! !!!!!!!!!!!!!!!!!!!!!!!!!-''(,'!! )#%&'/('.! !!!!!!!!!!!!!!!!!!!!!!!!! /-('+!! )$-(&.! !!!!!!!!!!!!!!!!!!!!!!!!!#*+(/+!!
'(-"! #/('"! *$(#"!
",-
#,%&$&(/!!
)#-%//#($.! !!!!!!!!!!!!!!!!!!!!!!#% '/(*'!!
*('"!
*0=";9="+378-0
"#$%&' !
(' )*+)!
",-"#$%&' !
!"!
"#$%&' .#//#"/012"' #345678' 9": /#" "#$%&' .#//#"/012"' #32;<<#2;-=*#) "#$%&' .#//#"9": 8#"3#)>"3%??' #
#&%//&(&!! %'&*(-!! $ (-!!
)#/%-*,(,.! !!!!!!!!!!!!!!!!!!!!!!#%'*&(*#!! ) %// (-.! !!!!!!!!!!!!!!!!!!!!!!!!!# /(,$!! )&,( .! !!!!!!!!!!!!!!!!!!!!!!!!!!!#/(&-!!
,(*"! &(+"! #-($"!
",-
#$%-*&(#!!
)#*% *#(,.! !!!!!!!!!!!!!!!!!!!!!!#%*+/(#*!!
,(+"!
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
157
!"#$%#&'()*+(, -./#01 20)34 #567#'#0189 0*:#;"7#<7$=#3> 0?@@A0!7(!7&7B-"7B!"#0C67D&-:/#!"#EFCG% H =I";H;B0)#J,KB57CC7&)*+,(-./#-KB!"#$%#=#L% &C+50EPC !"#$%&'()*+,-,./,01,23"!345#/"6-,72#6!"# Qatar’s Desalination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` abV )46#"Q=@/?"!!"#)"Q=EE/ " GNE-J D;,0*!!<"=#?"!!"#)"Q C,*'6-,72#6!"#)467#6=EE/ "%9;66",8564"0&.Qc0>'F#:$0G X>'F13,$FM ,?<",R, UU 9/",D"0 4>! J 72#6!"#0>' $C9B4),"@!<"9;6!"#P9&.#R( UbMWdc 4QI#3 :CR3"6!"#@<"$,&,!"#QB,' $4!5"#!;D$?/"C,/"0>'04/ 6H&', !"!/$01&(%$23&)45.6$7&0+89%&:;0<=;>'- .$ $?5 4@A !"#434,23"96)465!19$6&,D"0$(B'4$0>QD!;D5!19$6&,@499"#c 5C#;]-,F> JKKL $FM ,$C.10"< -C/.,/ 01, !"#!345#/"6$%&'()*+,-,#I F5!19$6&,D"0 -,#:CR3"66R@(>!"#D;,0*!!<"=#?"!4;.#"89!$F9>' Q,$FM ,?<",R, YL 9/",D"0 )`:0>')"@01,?"!4;.#"89!$F9>'Q,0>'Q6; =(3$!&@)*+,HI!D;,0*!$FM ,?<",R, Waa 9/",D"0 $FM ,P90<"-C/ D#& N0; 85@6P9 d)"@01,?"!4;.#"89!$F9>'Q, – 51 0O& e $FM ,?<",R, aS 9/",D"05<"C#;D6R@ !"!B$CD &EF* 7D&'0&%G%AH&%$:;I?D J.:GD K01&(%7&0G%AL84%D JM:;I?D J.()* <?> 'E.0A70&%%D JMC* & 23"-\/?3"Q!"#D#& C"#HI!D;,0*!$FM ,?<",R, fJf 9/",D"0 $%&'()*+, abV ?"!F> 0>'89/R 5"$C.1C9;!)46!"# $%&(' )*+,("?"! !"#$%&(' )*+,)4623"-\/?3"Q-,!"#D#& C"#?"!D#& N0; Q34Q$FM ,?<",R, YK 9/",D"0 23"-\/?3"Q0>'$!&@ ?"!72#6!"#5& 0O&A+B 4C1,/ ?<",R, Ja 9/",D"0 0>'D#& N0; =@/$5,474!"5!"#9601,-C/!D; PID/ #& C"#89:%,;!6", -,#:CR3"6=.#("50>' W F> JKKL 0;+6546(>2R"(5;(%;,Oc!D; !"#9601,-,.3"6F#:$0G A*'6-,F> JKKL D#& N0; 89: D#& N0; Q34Q(>53R,#3 R(4Q3"6("!-,O1#!&?7#6=EE/ " 53 R,8D36!<"=#?"!D#& N0; #3 R($%&'()*+,$FM ,?<",R, JS 9/",D"0-,F> JKKL $FM ,P9("?"!P9!"# @<"$,&,6",)467#6=EE/ "%9;66",8564"0&.Qc ),"@ f MW ?;6CR;@43"6046 D#& N0; Q;6#;D#I /53R,8D36)"@01,?"! 53 R,=@/$5> Q-,!&?!"##3 R(2/"?"!C,*'6-,D#& N0; Q34Q 2B4 TTNE A*'6$)/"AB+4C1,/ UYV -,D#& N0; #3 R(01,\B'4 “Orient Bio-Fuels Company Limited (OBF)” -,F#:$0G$R>Q@,"( A*'6R&O>53R,=@/$5> QHI!,<"("-\/2"< ,R,."(5;@53 R,
158
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
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hlone Project8 =(:#/)&])D9T(D"#Y8 ):E (3$&5"=>0D9!"5 H# .' &U6."5 >#;<:9 ):E (F5"(?(8 NO8$0"(<"&8>#+ -$4$%8BMP8F"!:9 &9,J$0? 8 !"-*8+*'9/.:-*2;< =*'2,*-.+/' >!"$,*-9/.:-*2;< ?/'(-@A8< " !"#!$%&%!'(( 9,6:;<+5=>.?6*@456 9,6:;<+5=A.B>.?6*@456 ;@.9,6:;<+5=
!"#!$%&%!'(() *+,-.!/012 % *304-567308 !!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!! "#$% &'#!! "($()*&*+!! !!!!!!!!!!!!!!!!!!!!!!!!#$%+ &)'!! ##&**,! !!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!! %$*#-&"#!! )$*+-&-%!! !!!!!!!!!!!!!!!!!!!!!!!!+$(+*&+*!! )"&" ,! !!!!!!!!!!!!!!!!!! !!!!!!!!! ++$%'#&#(!! ")$* -& -!! !!!!!!!!!!!!!!!!!!!!!!!! $%#%& +!! #"&"+,!
_8.6Q (:9 8ABBC8<#6 G&; D9.6(&#;*TY#?D)*6,D72Q(8BVP8)*6,D72Q(8C`C8*;($0"(<"&8F"!U;(?"RD8ABBL8):E (3$ ./&0-(F"!!"#7T"TU'#!6FJ$/!"#$%&'(#/>?@"%%?4 .6 (&#;*TY>D'()?9T()*6,D72Q(8 BLP8 1W!<;(&2!):E (F5"(?(8 VB`C8 *;($0"(<"&8 #"T!"#>$;!:#/!-<40?T8 $W!>(9QR@"!@-.#0"%&9,T%; HD@)#9 T!)!E<8 –8 !6F!"#-+,(8 F5"(?(8 B` 8 *;($0"(<"&8 %"(#/>?@"%!@-.#0"%8 –8 !6F!"#-+,(8 F5"(?(8 N`B8 *;($0"(<"&8 J$/)%6(F@"T$@?%>(0"=>03#W 0 ;<)>D"S@?%8 F5"(?(8 A`V8 *;($0"(<"&8 .6 (&#;*TY>D'()?9T( )>$@"(9Q)*6,D72Q(F"!^R#%!"#!@-.#0"%^#%Haa0 "=(:#/)&]8 B8 ^R#%!"#:#/!-<40?T8 PPTC/SSUT J$/ IRPC8 )>I'3$>$;!7-%!"#)*6D, 72Q()(+,-%D"F"!^R#%!"#)>$@"(9QH40#;<%"(=(S@?%:$"T:9 8 ABBL8 b2,%=(:9 8 ABBC8 D9R?"D R+<>(0"7-%^R#%!"#):E (-T@"%D"!8J$/R"4!"#_YH40?"@ 8^#%Haa0 "8B8^R#%!"#:#/!-<!;<^R#%!"# RAPID’s SCC8 :#/)&]D")$)b9T&9,D9DW$R@"%"(.W %8 b2, %H40#;<%"(=(S@?%:$"T:9 8 ABBC8 F/T;%R%D9$W!>(9QR@"!@-.#0"%&9,T%; HD@ )#9 T!)!E<8–8!6F!"#-+,(8J$/%"(#/>?@"%!@-.#0"%8–8!6F!"#-+,(8-TW=@ (#/4;<)49T?!;<:;FF'<(;
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
159
! "#$%&'()*+,*-"./0'"1 *023$.&!4*567"8"9:2,"07 5<; =29> %*?#3"$@'@'3/AB3"/"1 CDE1 &%"9;3"F3#1 @#;<"8,;.,G"H6>I/3*IJF,";35<>23$2+< $;3>K9@23$9>#-"8"LI$>23$1 Ahlone Project1 $@,/+3>>/M1 HJ< .?G "$3'23$,9%25<>23$.?904'"K?9>8" ! "#$%&'()*+,*-"./0'"1 9:2,"075<; =29> %*?#3"A@H:2=%MAB3,"+3' =9<M$@'@./93 %*?#3"=3*<3'-5<>LI$>23$ !"# !"#$%&"!'() (*+-, $ *./'-0 #*123456782(96*# %
!"#$%: &' (!)(*
+%,-%./0/%122
+%,-%./0/%1223
45678%9&:;
4<&=7$!><&?
!= @A6! 8B!4#=$!
!!!!!!!!!!!!!!!!!!""#$%&'$(!!
!!!!!!!!!!!!!!!!!!!!!!)#$)$'*%!!
!!!!!!!!!!!!!!!!!!!!!!!!&#+($'$"!!
%%'+&,!
!= @A6!C8" 8B!4#=$!
!!!!!!!!!!!!!!!!!!!!(#$*('*$!!
!!!!!!!!!!!!!!!!!!!!!!!!%--'$$!!
!!!!!!!!!!!!!!!!!!!!!!!!(#&()'(*!!
"#"+('-",!!
D#8 != @A6!
!!!!!!!!!!!!!!!!!!"$#&%$' *!!
!!!!!!!!!!!!!!!!!!!!!!+#*("'$+!!
!!!!!!!!!!!!!!!!!!!!!!!! #"+-'*"!!
+'-),!
A"#!EF?GH'IJF ' !B
!!!!!!!!!!!!!!!!!!!!$#%+)')*!!
!!!!!!!!!!!!!!!!!!!!!!-#+% '*)!!
!!!!!!!!!!!!!!!!!!!!!!!!!!!($"' &!!
' ),!
D#8 != @A6!>&KA"#!EF?GH'IJF ' !B 1111111111111111111111111111
!!!!!!!!!!!!!!!!!!&&#$%-'-*!!
!!!!!!!!!!!!!!!!!!!!"(#+ )' !!
!!!!!!!!!!!!!!!!!!!!!!!! #$-$' %!!
-"'"&,!
23$.?904'"K?9>5<>,"07 ! "K9@ + /"5<>N:H; J<,-"; *0M>% "071 (*+-, $ *"#:1.&!4*567"ODP1&%"9;3"F3#1LM'.&!4*567"#%7>,"07 ! ",*-"./0'"K9@,"07 ! ")*+,*-"./0'"# # 8"<M0=1F$! Q#% MB3."! "2!A23$M;/'<%=$3 + /","07 ! "=+<#-"8"$@M%F=B431<'+3>)$2G=3*#04F$! Q#% )M;$%F>3" LI$>23$2+< $;3>#04*0*:9I+3>3" : >567"K9@*023$9>#-"8"R- $2!AL$>)SS; 31#B38,;F$! Q#% ,902.904'>)*+)M;#04A@=;<> .NT!U,";32%F V3&K/M9;<*8,*+5<>R- $2!A#%7>.A;35<>>3"K9@N:5; 3' ! "I;3=+3>*0I/3*=$@,"%2H6>I/3*=;<>23$ 5<>.>! "#- ",*- "./0' "5<>=".<>1.?G "N98,;# 3>.9J <2#3>23$.>! "#04 *0 <':+H: 2 &!A3$W3.&J4<=<F "<>I/3* =;<>23$#3>R- $2!A A32.,=-N9M%>29+3/5;3>=;"1,"07 ! ",*-"./0'".&!4*567"1XDY1&%"9;3"F3#1 3.,=-,9%2*3A3223$.&!4*8" .>! "2:'; J*$@'@ 7 %"A32 H3F%"23$.>! ".?G "AB3"/"1PDP1&%"9;3"F3#1K9@.>!"$%F9+ />,";3A329:2I;3=3* %UU3 2+< $;3>1–12!A23$<J4".?G "AB3"/"1PDY1&%"9;3"F3#1#%7> <>)M;$%F&!A3$W3.?G "K,9+>.>!"#-",9%2.&J4<=<FI/3* =;<>23$5<>.>!"#-",*-"./0'"5<>F$! Q#% $@,/+3>>/M ,"07 ! ")*+,*-"./0'".&!4*567"1ZDP1&%"9;3"F3#1A3223$#04F$! Q#% )M;$%F.>!"2:A; 32R"3I3$.&J4<23$ + ><<2 K9@"B3.5;3K,+>?$@.#[)#'1\EXIM Bank]1.?G "AB3"/"1XDP1&%"9;3"F3#1$@'@./9323$2:'; J*1CY1?0 1K9@F$! Q#% )M; <<2,- ;"2:A; 3B "/"1CDY1&%"9;3"F3#1<3'-1X1?0 18"T+/>293>?0 1P^^O1LM'#%7> <>$3'23$H:28T;8".>!"9>#-"$@'@ '3/8"R- $2!AL$>)SS; 3=3*#04/3>KN")/;
160
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
!"#$%&'() *+,'-.'&/-0+,1(2 3 '4$5 "! #$%&'( 12!2 "! #$12$3#4!("6 5 ( 12"2 "! #$12$3#%78,9"& #$:3;6 #'.*************** ******** 1242 "! #$%&'(%<$=->& ?***************************** **** 1212 "! #$%&'(@(A 5%9("& 87(**************************** * 12#2 "! #$%&'(@(A 5%9(8AB.A<$#C; 1DEA 5:"& %&'(4 ?FG6HI @76( 1232 "! #$%&'('!;-'$.%$.$#HJ(1$#K&$:; 1DEA 5: * 12$2 .G>-&$@76("$.E!LMA********************************** * 1262 "! #$F>" EN8("& %9(8#!=:O#'.************ * 1272 "! #$F>" EN8("& %&'(4 ?FG6HI @76(******** 12!82 12$3#%78,9"& @76(*************************** *********
)*+! ,!('$-.*"#/$ 324#5 "2"15 !24# "2#1 !2!3 #236 !!214 !2745 32615 826"
)*+! ,!('$-.*"#/0 627$5 12745 !2!3 !2#" 82!3 1!276 !"24$ #26$5 !126"5 !234
%&'()&*+,-./0&'()&*+, ./0&'()&*+, ./0&'()&*+, %&'()&*+, ./0&'()&*+, ./0&'()&*+, ./0&'()&*+, ./0&'()&*+, ./0&'()&*+, ./0&'()&*+, ./0&'()&*+,
6!"&'7.'&*0/4&'89: .&8;(/-0+(< !"#$%: &' (!)(*
+%, !-.!#(/0%"#1$
3456789:!7;7<*-:=;' 0(>?@' =A?!BC(33:C3440;D(8!:!9(!
+%, !-.!#(/0%"#12
%&'($)*($+!
%"'&,-*($+!
3456789:!7;7<*-:=;' 0(>?@' =A?!BC(33:C3440&9*<!
% &.*" +!
%" "*,.+!
3456789:!7;7<*-:=;' 0(>?@' =A?!BC(33:C3440C.; (89:!
&'. &* )!!
)' $*, !!
89:!7;6&54($3(48*E$)8*"(89:!7;8F:G0HI J!>&;&9B7<*-:%
%$""*,#+!
"(&*,,!!
)#3%$K;$30(L' !9#;
"')-$*&&!!
"',#&*- !!
%#.*),+!
).*-#!!
'& *) !!
"')-$*&&!!
3D(=4C(3K.L4(6&38A&EG$!HK989:!7;6&54($3(48*E$)8*"(89:!7;%%%%%%%%%%%%% 89:!7;6&54($3(48*E$)8*"(89:!7;-$K;/98 &MKA&($9#;%%%%%%%%%%%%%%%%%%%%%
%%%%%%%% %%
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
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
161
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
162
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
163
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
4567#%!898:;<%:!,=5>?=@5A#'$!BC+D#E!F-G+A$H !"#$%&'!()!*#$"+,-!./0/!1223
G-+:@G9I?5JD=4K4D+5@K6$5"-LMJK4D+5@K6$@N.+J4567#%O$G$P+!))(!QRK!)S2!@?T$UV"$G$R'KW=KK4D+5@K6$$&X
164
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
4567#%!898:;<%:!,=5>?=@5A#'$!BC+D#E!F-G+A$H !"#$%&'!()!*#$"+,-!./0/!1223
G-+:@G9I?5JD=4K4D+5@K6$5"-LMJK4D+5@K6$@N.+J4567#%O$G$P+!))(!QRK!)S2!@?T$UV"$G$R'KW=KK4D+5@K6$$&X
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
165
4567#%!898:;<%:!,=5>?=@5A#'$!BC+D#E!F-G+A$H !"##$%&&'!()!*##$"+,-!./0/!1223
$% A$1?4*7 B&C& '(() 4%
-!$ -!D9E87F $% A$1?4*7 B&C& '((* 4%
9 54!.9"1!?7 -!$ -!D9E87F % 75!4*7 B&C& '((* 4%
$% A$1?4*7 B&C& '(() 4%
$% A$1?4*7 B&C& '((* 4%
8
1,611,307,931 4,320,000
2,387,667,171 -
2,056,811,739 238,410,448
283,185,927 -
1,636,656,399 -
9, 12 9
52,174,836 1,901,593,708 30,813,661
4,457,265 2,426,049,249 81,204,607
383,678,104 1,138,961,781 -
282,856,717 1,690,406,559 -
516,562,503 1,403,523,474 -
11
134,895,074
75,721,295
31,381,473
-
-
10.1, 12 10.2
400,827,596 5,387,533,660
90,963,592 3,113,771,082
238,038,437 1,343,439,390
1,381,562,251 3,286,936,631
2,060,036,916 2,695,576,955
12
56,496 93,814,151
745,582 265,088,690
1,786,403 89,409,173
9,551,688 47,815,137
116,437,440 48,322,626
12
92,476,844 3,992,910,217
55,860,618 1,090,962,821
254,250,819
92,476,844 3,005,280,412
55,860,618 1,070,445,689
12 12
1,528,603,235 -
265,804,168 66,290,101
75,042,904 -
80,092,854 77,465,620 -
449,106,016 213,667,317 -
12
46,285,200
-
-
46,285,200
-
12
34,489,316
-
-
590,630,400
98,033,400
12
674,568 69,297,387 218,707,703 76,568,475
2,500,470 60,808,096 62,025,921
24,855,380 32,297,765
7,101,633 67,951,901 202,491,307 18,642,531
3,480,975 337,759 56,586,290 32,872,814
874(.8'D
9 54!.9"1.GB4= !"#$%
;"1%!$B(, ;"1%!$B(,87D1.?@(1 !"#$%&'()*+,*) -.+/ -0* !"#$% !"#'!-1#23456)*5 '7,8#.9,*)6:* - ,";,*)-.4 ,.4+5<:=!,3# - ,";,*)=>4# '7,8#.9;*,,*)/)"8*)!*#?)!@AAB* '7,8#.9C*D<:=C,'!$3DE-*#/)",*) -.4FG!,H*8#%)3/2H*)(I#8#G4!EJ '7,8#.960*,0=$):*!C*D$3KK*-.4+3!@D0@%: ).+, ,L/ - ,";,*)-.4 ,.4+5<:=!,3# - ,";,*)=>4# '7,8#.9=>4# - ,";,*)-.4 ,.4+5<:=!,3# - ,";,*)=>4# !*#)(850*!,0=$):*! - ,";,*)-.4 ,.4+5<:=!,3# - ,";,*)=>4# !"#;0*+'05!8#:*I8:M7:)3/ 8D*205! - ,";,*)-.4 ,.4+5<:=!,3# - ,";,*)=>4# !"#;0*+'05!8#:*60*81:#I8:&,0,";,*)-.4 ,.4+5<:=!,3# !"#E)(,3#M'!*#-.46)/,H*8#%N*+I# 1 EJ - ,";,*)-.4 ,.4+5<:=!,3# !"#I8:,7:+>D&,0,";,*)-.4 ,.4+5<:=!,3# -.4FG!,H*8#%)3/2H*)(I#8#G4!EJ %=, /.9+6:*!)3/;*, !"# I8:,7:+>D&,0,";,*)-.4 ,.4+5<:=!,3# N*O. !"#@%:83, P -.4;0*+ N*O.Q>9=)= ).+,6># $"#-)3R+S8D1# 5.+#=>4# !?7;"1%!$B(,87D1.?@(1
15,677,350,058 10,049,920,728
5,908,363,816 11,170,733,612 10,457,507,191
G-+:@G9I?5JD=4K4D+5@K6$5"-LMJK4D+5@K6$@N.+J4567#%O$G$P+!))(!QRK!)S2!@?T$UV"$G$R'KW=KK4D+5@K6$$&X
166
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
4567#%!898:;<%:!,=5>?=@5A#'$!BC+D#E!F-G+A$H !"##$%&&'!()!*##$"+,-!./0/!1223
$% A$1?4*7 B&C& '(() 4%
-!$ -!D9E87F $% A$1?4*7 B&C& '((* 4%
9 54!.9"1!?7 -!$ -!D9E87F % 75!4*7 B&C& '((* 4%
$% A$1?4*7 B&C& '(() 4%
$% A$1?4*7 B&C& '((* 4%
12
131,858,922
-
-
74,272,243 -
-
12
12,973,684 5,356,820,835 136,832,458 18,528,102 673,439,990 152,669,505 288,317,912 24,199,958 4,065,561 106,367,410 52,076,660
45,822,348 19,075,015 75,359 3,530,263,558 67,060,623 7,796,746 673,439,990 109,129,769 282,164,431 20,697,163 125,612,458 47,718,478
40,814,289 20,000,000 829,544,352 60,589,194 20,353,003 584,820,600 227,242,795 22,697,622 42,828,652 29,582,576
35,000,000 1,410,586,285 62,499,900 673,439,990 77,714,384 23,211,749 21,901,958 26,145,555
45,822,348 19,075,015 75,359 35,000,000 1,327,726,349 62,499,900 673,439,990 85,904,288 20,419,251 19,605,359 31,381,523
6,958,150,997
4,928,855,938
1,878,473,083
2,404,772,064
2,320,949,382
874(.8'D
9 54!.9"1.GB4= !"#$%
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
12 11 13 14 15 16 17 18 13 23
!?7;"1%!$B(,)7F87D1.?@(1 !?7;"1%!$B(,
22,635,501,055 14,978,776,666
7,786,836,899 13,575,505,676 12,778,456,573
)
G-+:@G9I?5JD=4K4D+5@K6$5"-LMJK4D+5@K6$@N.+J4567#%O$G$P+!))(!QRK!)S2!@?T$UV"$G$R'KW=KK4D+5@K6$$&X
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
167
4567#%!898:;<%:!,=5>?=@5A#'$!BC+D#E!F-G+A$H !"##$%&&'!()!*##$"+,-!./0/!1223
%& ,$-./0* !!! "##$ %/5
"#$%"#&'()*+ %& ,$-./0* !!! "##' %/5
'%1/#3'9-#.* "#$%"#&'()*+ & *1#/0* !!! "##' %/5
%& ,$-./0* !!! "##$ %/5
%& ,$-./0* !!! "##' %/5
19
3,138,995,567
933,670,673
-
3,138,995,510
933,670,673
12
2,169,182,505 45,319,855 243,969,257 2,551,443,812
1,759,106,129 41,560,440 88,085,379 4,010,446,519
3,216,249 1,167,999,742 41,814,136 65,212,185 2,686,257,736
32,735,157 1,580,643,746 43,552,626 314,575,400 1,885,428 167,987,693 1,431,817,216
34,949,449 1,262,816,222 40,252,683 87,813,189 3,580,103,892
12
310,634,312 2,738,407,230
763,869,122
630,042,144
63,259,457 399,311,111
372,433,658 591,442,974
10.3 10.4
79,448,161 24,516,164 153,005,337 177,717,121
901,976,197 34,169,472 77,749,276 75,395,967
66,381,321 260,368,600 29,525,866 85,742,611 69,131,268
79,448,161 6,147,056 88,376,952 95,708,402
252,052,058 430,513,694 9,375,033 84,636,957 39,728,104
11,632,639,321
8,686,029,174
5,105,691,858
7,444,443,915
7,719,788,586
3,255,050,429 997,387,838 147,683,395 91,768,740 112,168,415
148,799,593 106,289,318 100,573,621
144,160,446 24,025,492 87,927,926
997,387,838 32,322 109,509,788
98,048,645
4,604,058,817
355,662,532
256,113,864
1,106,929,948
98,048,645
16,236,698,138
9,041,691,706
5,361,805,722
8,551,373,863
7,817,837,231
)*/23)4&
'%1/#3'9-3E /<%#9F$5
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
12 12
#.*)-6789-)*&-3.62)-6789-D*+)*&-3.62!"#$%&'()*+'+'08 3C&#$%& - ,C6I" *0'E;&*:$0**-2*%& 3#4.,"#F0G4 !"#E;&*:$0*B-;2-DA4 F0*+?%$J-#?@>*+K'A#LJ#-$!0# #.*)-6789-D*+)*&-3.62#.*)-6789-
20 21 22 23 24
G-+:@G9I?5JD=4K4D+5@K6$5"-LMJK4D+5@K6$@N.+J4567#%O$G$P+!))(!QRK!)S2!@?T$UV"$G$R'KW=KK4D+5@K6$$&X
168
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
4567#%!898:;<%:!,=5>?=@5A#'$!BC+D#E!F-G+A$H !"##$%&&'!()!*##$"+,-!./0/!1223
$% A$1?4*7 B&C& '(() 4%
-!$ -!D9E87F $% A$1?4*7 B&C& '((* 4%
9 54!.9"1!?7 -!$ -!D9E87F % 75!4*7 B&C& '((* 4%
560,000,000
560,000,000
480,000,000
560,000,000
560,000,000
25
560,000,000
560,000,000
480,000,000
560,000,000
560,000,000
25
2,905,496,747
2,905,496,747
405,162,100
2,905,496,747
2,905,496,747
26
56,000,000 1,771,233,413 23,188,454
56,000,000 1,702,766,182 -
48,000,000 1,195,930,473 -
56,000,000 1,530,331,845 23,188,454
56,000,000 1,492,636,719 -
(44,548,774) 43,578,942
51,964,089
(7,254,813)
(50,885,233)
(53,514,124)
'731!7%K"D.'CI4#F)5! 1!7%<,*&1/0#/;<3!3/"62%2+:7.:$3
5,314,948,782 1,083,854,135
5,276,227,018 660,857,942
2,121,837,760 303,193,417
5,024,131,813 -
4,960,619,342 -
'731!7%K"DL8*H(")$*%
6,398,802,917
5,937,084,960
2,425,031,177
5,024,131,813
4,960,619,342
874(.8'D
9 54!.9"1.OB4= !"#$% $% A$1?4*7 B&C& '(() 4%
$% A$1?4*7 B&C& '((* 4%
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
25
27
!?781@G;"1:H=;F?1I+9JKLMN+8DL1
22,635,501,055 14,978,776,666
7,786,836,899 13,575,505,676 12,778,456,573
G-+:@G9I?5JD=4K4D+5@K6$5"-LMJK4D+5@K6$@N.+J4567#%O$G$P+!))(!QRK!)S2!@?T$UV"$G$R'KW=KK4D+5@K6$$&X
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
169
4567#%!898:;<%:!,=5>?=@5A#'$!BC+D#E!F-G+A$H !"#"#$%&'!() ()!*#*#$"+,"+,-!./0/!1223 . 0 1223
C&D& '(() 4%
3B,# 435) !" -!$ -!;9E87F C&D& '((* 4%
C&D& '(() 4%
C&D& '((* 4%
17,554,672,528 1,781,809,714 238,778,873
15,335,477,192 2,456,808,420 72,795,905
13,850,718,452 50,471,206
15,398,215,921 -
19,575,261,115
17,865,081,517
13,901,189,658
15,398,215,921
(16,709,812,081) (1,543,399,570) (78,459,344)
(13,869,864,444) (2,332,844,730) (59,224,405)
(12,679,772,023) (24,400,101)
(13,939,898,428) -
(18,331,670,995)
(16,261,933,579)
(12,704,172,124)
(13,939,898,428)
12,32 14 15
1,243,590,120 218,753,320 (36,130,107) (827,612,002) 26,245,264 (22,231,644)
1,603,147,938 84,467,701 94,206,806 (638,830,167) 6,471,429 (203,254)
1,197,017,534 67,309,644 39,842,916 (686,670,369) -
1,458,317,493 18,344,880 16,911,183 (571,560,607) -
,-#% ,12)(')*+)*#3,# 435)67891#:;'<1#$=#>?435)%&' ,%21921!+'! B+42
33
602,614,951 (106,039,625)
1,149,260,453 (27,375,341)
617,499,725 (72,443,724)
922,012,949 (5,388,299)
,-#% ,12)=#>?435)%&' E(!:F%&(!"I!HCB+42#$%
31
496,575,326 (58,907,236)
1,121,885,112 (241,978,728)
545,056,001 (115,373,774)
916,624,650 (184,419,271)
437,668,090
879,906,384
429,682,227
732,205,379
,-#% .#&*+)!4BE&4@ E<2FG) J<,(!+A)+)., !;<'B0<C?"2&!''! ;0<+E(!+3'! B+42
1,222,762
107,206,128
2,628,891
(51,902,951)
'@!# (A!$192)B3K$B* K&)>?2*@!5 .30L - *91D4&!'I!HC
1,222,762
107,206,128
2,628,891
(51,902,951)
'@!# B3K$B* K& G-*@!5 .30L
438,890,852
987,112,512
432,311,118
680,302,428
,# 6B13CH),-#% @-#A /B3!& *(G21C?B0M2A)+JN%O>)59%23 4H.1:5/( *(G21C?B0M2A)+*(G2#$%B*C"1C?#-(-C)@!2!&EG3E9-
460,454,329 (22,786,239)
869,624,015 10,282,369
429,682,227 -
732,205,379 -
437,668,090
879,906,384
429,682,227
732,205,379
452,069,182 (13,178,330)
928,842,917 58,269,595
432,311,118 -
680,302,428 -
438,890,852
987,112,512
432,311,118
680,302,428
0.82
1.63
0.77
1.38
874(.8'; !4()6G !"#$%&!''! '()* %!+,-./0%1 2'! !"#$%&!''! '()* %!+,!-*.//!*.-01!2 !"#$%&!''! 3 54 ! +!26 +#778!
7,12
!" #$%&' (')*+) ,%2192:2'! '()* %!+;<=:5%3 4'! ,%2192:2'! '()* %!+,!-*.//!*.-01!2 ,%2192&!''! 3 45! +!26 +#778!
12,32
!"(')*+) ,-#% ./0)(') !"#$%)>?2 '@!# (A!$192)&!')., !;<'B0<C?"2 - *91D4 E(!:F%&(!":2'! 3 45! *(G2;3(+'@!# &!'3 4H.1 (G*(G2;3(+A!$192&!'*(G2#$%B*C":2'4&'! (G-E%!
30
,-#% @-#A /BCD
,# 6B13CH),-#% 4BE&4@ E< !" *(G21C?B0M2A)+JN%O>)59%23 4H.1:5/( *(G21C?B0M2A)+*(G2#$%B*C"1C?#-(-C)@!2!&EG3E9-
,-#% (12A+')@1!)*?G4CI).23B 5>/*:AJ1 '@!# ,()59%2A.P2Q>P2R!2 (3!1)
28
3B,# 435)4KL#8B 5>/*
G-+:@G9I?5JD=4K4D+5@K6$5"-LMJK4D+5@K6$@N.+J4567#%O$G$P+!))(!QRK!)S2!@?T$UV"$G$R'KW=KK4D+5@K6$$&X
170
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
171
29 26
560,000,000
-
560,000,000
2,905,496,747
-
2,905,496,747
2,905,496,747 -
2,905,496,747
2,500,334,647 -
405,162,100
405,162,100 -
;>?1.5"17B<*>4 8FC1;47$N 4%
56,000,000
-
56,000,000
56,000,000 -
56,000,000
8,000,000 -
48,000,000
48,000,000 -
1,771,233,413
(391,987,098) 460,454,329 -
1,702,766,182
1,423,603,055 279,163,127
1,702,766,182
(354,788,306) (8,000,000) 869,624,015 -
1,195,930,473
1,131,381,984 64,548,489
;34!+9 534)!;L;7 '475O874( %=0($9)7>)6C2$6;!! 4% 4%
23,188,454
23,188,454 -
-
-
-
-
-
-
(44,548,774)
(44,548,774) -
-
-
-
-
-
-
;>?1'034245 ;>?1.5"1%F1 54!.-<=0(1:-<9 24554!M8C8FC1 ;$6;>?154!DE+8FC1 M1 !"#$%(>+( J1$5941 4% 4%
;>?1@+9ABCDE+8FC1 !"#$%M8N>
#7"AF#@,'$LID&M&I"$FM)+$.7NOLM&I"$FM)+FP8"L&$)>%/Q+#+R"24432STM24U<2F'V+ W.+#+T1MXDMM&I"$FM)++0*
(+6*9.8<E+ ?$1%=0 $% I$1?4*7 J&K& '(()
(+6*9.8<E+ ?$1%=0 % 75!4*7 J&K& '(() -!$ -!F9M87> 54!.-<=0(1:-<9M1;>?1@+9ABCDE+8FC1;348!$ -G =>7)5?) !'4(, <*(#9>8(3"@23(, "*(A#=&BC=<#B'#D3<*(2#-&5E <4D)8G*('(""(#=5!0G,)J5!><-C<4D)"(#KL92:;)1)&#7I-%,49, <4D)="7)'(""(#12;2:;)F)-">() "(#=F7G3%:)H9>&#7I-%,49,
560,000,000 -
3
(+6*9.8<E+ ?$1%=0 % 75!4*7 J&K& '(() !"#$%&'(""(#)*()+,&(,&-./012343(567&-87
80,000,000 -
480,000,000
480,000,000 -
560,000,000
25 29 26
3
%F1%=0++5:<L .!=(5/34!L:<C? 4%
(+6*9.8<E+ ?$1%=0 $% I$1?4*7 J&K& '((* -!$ -!F9M87>
(+6*9.8<E+ ?$1%=0 % 75!4*7 J&K& '((* -!$ -!F9M87> 54!.-<=0(1:-<9M1;>?1@+9ABCDE+8FC1;348!$ -G "(#99"2:;)<(3-. =>7)5?) !'4(, <*(#9>8(3"@23(, "*(A#=&BC=<#B'#D3<*(2#-&5E -5#-&5#:>1234 "(#=F7G3%:)H9>&#7I-%,49,
(+6*9.8<E+ ?$1%=0 % 75!4*7 J&K& '((* !"#$%&'(""(#)*()+,&(,&-./012343(567&-87
874(.8'F
!"#$%&'( )*+ ,--.%.%+/0123425% 34 5%+."67289:92;<<= ."67 8 : ;<<=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K J K
9,410,796
-
9,410,796
9,410,796 -
9,410,796
-
9,410,796
9,410,796 -
;>?1.5"1 24554!<9%F1 .J"07M1 !"#$%(>+( 4%
34,168,146
(8,385,147) -
42,553,293
(38,959,749) 81,513,042
42,553,293
59,218,902 -
(16,665,609)
(16,476,464) (189,145)
43,578,942
(8,385,147) -
51,964,089
(29,548,953) 81,513,042
51,964,089
59,218,902 -
(7,254,813)
(7,065,668) (189,145)
5,314,948,782
(391,987,098) 452,069,182 (44,548,774) 23,188,454 -
5,276,227,018
4,915,550,849 360,676,169
5,276,227,018
2,580,334,647 (354,788,306) 928,842,917 -
2,121,837,760
2,057,478,416 64,359,344
1,083,854,135
(13,178,330) 44,548,774 391,625,749
660,857,942
571,271,003 89,586,939
660,857,942
58,269,595 299,394,930
303,193,417
263,442,250 39,751,167
A<'>4924554! !?7+9*,-!L5+ +E01 !?7;>?1@+9 ;>?1)6C.;=(%=0)7>7= :-<9*>49 54!.9"1 @+9;>?1@+9ABCDE+8FC1 ABCDE+8FC1 !"#$%M8N> +34142*? *F7 4% 4% 4% 4%
+9*,-!L5+ +E01@+9;>?1@+9ABCDE+8FC1 534)!@46%F1. P6.;!P2+E01
6,398,802,917
(391,987,098) 438,890,852 23,188,454 391,625,749
5,937,084,960
5,486,821,852 450,263,108
5,937,084,960
2,580,334,647 (354,788,306) 987,112,512 299,394,930
2,425,031,177
2,320,920,666 104,110,511
!?7 ;>?1@+9ABCDE+8FC1 4%
9 54!.9"1!?7
172
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23= 29
25 29 26
874(.8'F
560,000,000
-
560,000,000
560,000,000
80,000,000 -
480,000,000
%F1%=0++5:<L .!=(5/34!L:<C? 4%
2,905,496,747
-
2,905,496,747
2,905,496,747
2,500,334,647 -
405,162,100
56,000,000
-
56,000,000
56,000,000
8,000,000 -
48,000,000
;>?1.5"17B<*>4 8FC1;47$M ;34!+9'475N874( 4% 4%
#7"AF#@,'$LID&M&I"$FM)+$.7NOLM&I"$FM)+FP8"L&$)>%/Q+#+R"24432STM24U<2F'V+ W.+#+T1MXDMM&I"$FM)++0*
(1=>+#7%61 /:)?&' !" @:)/!>A B#C# $%%'
(1=>+#7%61 /:)?&' " A "!>A B#C# $%%' !"#$%&'()*$%+,)-./)01+234561784)-9!7":;$< ,-.'/0'1234!5 6!9",:;<,(";3"=)(6!$"*:/> (4=', .'3! !"?$&$%&'@'* -!'
(1=>+#7%61 /:)?&' !" @:)/!>A B#C# $%%&
(+6*9.8<E+ ?$1%=0 % 75!4*7 J&K& '((* !"#$%&'()*$%+,)-./)01+234561784)-9!7":;$< !"## $%&'(!)*+ ,-.'/0'1234!5 (6!"#-7!) 8$)!5 6!9",:;<,(";3"=)(6!$"*:/>
!"#$%&'( )*+ ,--.%.%+/0123425% 34 5%+."67289:92;<<= ."67 8 : ;<<=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K
1,530,331,845
(391,987,101) 429,682,227 -
1,492,636,719
1,492,636,719
(354,788,306) (8,000,000) 732,205,379
1,123,219,646
534)!;L;7 %=0($9)7>)6C2$6;!! 4%
23,188,454
23,188,454
-
-
-
-
(50,885,233)
2,628,891 -
(53,514,124)
(53,514,124)
(51,902,951)
(1,611,173)
5,024,131,813
(391,987,101) 432,311,118 23,188,454
4,960,619,342
4,960,619,342
2,580,334,647 (354,788,306) 680,302,428
2,054,770,573
+; !"#+D)#EB!F;"DG:? +9*,-!L5+ +E01@+9 ;>?1@+9ABCDE+8FC1 ;>?1.5"1%F124554! A<'>4924554! O8C8FC1J1$5941 :-<9*>49 54!.9"1 !?7 4% 4% 4%
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%&'( )*+ ,-.%+/0123425%+."67289:92;<<=
C&D& '(() 4%
9 54!.9"1!@7 -!$ -!?9E87F C&D& '((* 4%
C&D& '(() 4%
C&D& '((* 4%
496,575,326
1,121,885,112
545,056,001
916,624,650
23,188,454 43,439,860 5,994,990 (44,571,874) 170,195,605 (168,583,990) (26,245,264) 22,231,644 12,674,193 2,177,894 (1,116,198) 100,475,933
30,296,532 (288,843) (27,487,536) (15,395,124) (6,471,429) 203,254 12,645,695 27,375,341
23,188,454 27,786,212 1,288 (699) 15,214,483 (63,684,504) 12,548,895 661,838 71,781,886
23,776,908 37,320 (10,378,368) (12,426,988) 12,403,396 5,388,299
636,436,573
1,142,763,002
632,553,854
935,425,217
(4,320,000) 476,737,970 50,390,946 (1,833,887,866) (2,583,626,582) 213,362,185 (2,938,563,622) (1,262,799,067) (66,796,917) (43,539,736) (157,899,607) (16,933,427) 18,612,163 (4,433,543) 472,300,915 (29,541,085) 155,883,878 (1,459,002,707) 2,285,172,431 (822,528,036) 61,852,412 102,321,155 (1,087,752)
238,410,448 (907,866,629) (81,204,607) (2,745,059,028) (1,623,256,847) (173,949,610) (892,572,620) (190,761,264) (2,500,470) (109,129,769) (35,952,716) (29,728,156) (24,083,074) (18,135,902) 846,668,206 (253,696) 22,873,194 1,324,188,783 133,826,978 835,594,876 (10,285,305) 6,264,697 4,639,147 (1,324,947)
(266,636,241) 87,114,988 107,409,867 (1,971,692,091) 508,720,726 (67,406,273) (145,191,247) 11,342,178 18,612,163 5,160,608 375,116,027 2,974,275 80,174,504 (2,148,286,676) (939,994,479) (172,603,896) (2,796,131) 54,226,037 (1,087,752)
238,410,448 (447,666,443) (2,798,668,930) (102,523,811) (875,055,548) (568,174,078) (43,112,721) (10,552,511) (24,083,074) (9,587,494) 305,098,496 (674,033) 22,601,004 1,182,082,369 (98,328,893) 699,304,378 (2,197,687) (17,060,213) (1,317,597)
+,-'5.9J/#19' -8 $$?.!"+'-',"' - .& +3*H08%"07*>J!"$B@A/6 - (")*+,-'#./8%"0
(6,751,889,319) (87,072,283) (135,006,198)
(2,290,835,309) (25,083,372) (293,052,852)
(3,832,289,559) (62,234,318) (117,388,944)
(1,616,081,121) (3,046,745) (197,169,338)
.9"1<6<?%B"E/G)-E15"25!!7634.1"1941
(6,973,967,800)
(2,608,971,533)
(4,011,912,821)
(1,816,297,204)
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
17, 18 17, 18
14 15 24 21
9 54!.9"1.HC4: !"#$%
H
#7"AF#@,'$LID&M&I"$FM)+$.7NOLM&I"$FM)+FP8"L&$)>%/Q+#+R"24432STM24U<2F'V+ W.+#+T1MXDMM&I"$FM)++0*
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
173
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= !:.50 !"#0B1
!:.50 !"# C<53:0"D6'
-!$ -!?9E87F C&D& '(()
C&D& '((*
C&D& '(()
C&D& '((*
874(.8'?
4%
4%
4%
4%
#$%&'!()*!+$,&-(.!(,/-&0,-12!2%'2(3456#256)+7-"$28&
12
-
(66,290,101)
-
-
!"#$%&'()*+(,-.'(/01# 2"345#6,"789)':)
13
-
-
-
(851,527,594)
!"#$%&'()*+(,-/01#5#;"&;(,,'<4.1(
15
-
(8,000,000)
-
-
!"#$%&'()*+(,-/01# 2"345#6,"789,'<4
14
(43,321,225)
-
-
-
(131,858,922)
-
-
-
5!:;<.9"1<62455"25!!7G9%?1
!"#$+(,:! 2=3:;(,&'()*+(,-.=# !"#;>1?@-%:; 6AB) !"#$%,86&(;;(,&+(/#'()6,"789)':)
-
-
199,700
-
!"#$%&'()C=B: !"#@!90#5#6,"789983<DE
-
(88,619,390)
-
(88,619,390)
!"#@!90#5#F,($(,/#AB9A3&-G=:&#.,6;+(/#%
75,359
19,924,641
75,359
20,000,000
!"#$%&'() !"#;>1)=45/1?;'6,"789)':)
13
-
-
(653,020,000)
(89,180,550)
!"#$%,86&(; !"#5/1;>1)=4?;'6,"789)':)
13
-
-
103,883,327
!"#$%&'() !"#;>1)=45/1?;'6,"7899A3 ;A3)<H1:!;8#
12
(46,955,000)
-
-
-
118,420,719
11,488,274
62,285,791
9,139,291
(55,894,719)
(80,520,657)
(15,277,416)
(42,725,239)
3,173,315
1,975,060
700
323,088
(7,846,233)
(1,996,788)
(6,773,560)
(1,742,249)
(164,206,706)
(212,038,961)
(508,626,099)
(1,044,332,643)
!"#$%,86&(; !"#;>1)=4&(;$G(68#;(, !"#,-)-$8B#
12,524,251,941
891,466,290
12,524,251,941
891,466,290
!"#$%&'() !"#;>1)=4&(;$G(68#;(, !"#,-)-$8B#
(10,326,702,168)
-
(10,326,702,168)
-
3,251,310,000
-
-
-
(42,765,627)
-
-
-
405,292,500
2,580,334,647
-
2,580,334,647
!"#$%,86&(;%:; 6AB),86 !"#$%&'()C=B::(.(,?@-:0E;,IJ
17
!"#$%,86&(;;(,&+(/#'():0E;,IJ !"#&'()C=B:KE,?;,4.:42"< F:,J
18
!"#$%$&'(")*+,-)#."/.0012!'&# .034$ !"#$%/5.."/.001/6%75 !"#
!"#$%,86&(; !"#;>1)4= &(;$G(68#;(, !"#,-)-)(< !"#$%&'().'(L,,4 #A)45#;(,&8%/( !"#;>1)=4 !"#$%,86&(;;(,::;/01# 2"3490#
25
!"#$%,86&(;;(,;>1)=4,-)-$8B#&(;6,"7899A3 ;A3)<H1:!;8# !"#$%,86&(;;(,::;/01#;>1
-
-
363,742,070
-
1,000,000,000
-
1,000,000,000
-
!"#$%&'().'(L,,4 #A)45#;(,::;/01#;>1
12
(3,274,000)
-
(3,274,000)
-
!"#EM#N@&'()5/1?;'N>1G=:/01#
29
(391,987,098)
(354,788,306)
(391,987,098)
(354,788,306)
6,416,125,548
3,117,012,631
3,166,030,745
3,117,012,631
!"#$%$&'(",%+15/5.."/.001/6%75 !"# !"#$%423058.50 '98: ';5 !"#$% <"=1>?@# 2%2!!$&'("
(722,048,958)
296,002,137
(1,354,508,175)
256,382,784
!"#$%?@-,();(, 9A)6 9'( !"#$%F1#EO
2,387,667,171
2,056,811,739
1,636,656,399
1,382,641,888
(54,310,272)
34,853,295
1,037,703
(2,368,273)
1,611,307,941
2,387,667,171
283,185,927
1,636,656,399
;+(D,(H(%90#)&(;:8F,(?@; E@A3)#H:! !"#$% ?@-,();(, 9A)6 9'( !"#$% !"#$%423058.50 '98: ';5 !"#$%-258-A
8
#7"AF#@,'$LID&M&I"$FM)+$.7NOLM&I"$FM)+FP8"L&$)>%/Q+#+R"24432STM24U<2F'V+ W.+#+T1MXDMM&I"$FM)++0*
174
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%&'( )*+ ,-.%+/0123425%+."67289:92;<<= 9 54!.9"1!@7
9 54!.9"1.GC4: !"#$%
-!$ -!?9E87F 874(.8'?
C&D& '(()
C&D& '((*
C&D& '(()
C&D& '((*
4%
4%
4%
4%
!4(54!%A07"E/F.9"1<6 #$%&'()(*#+,-.#$%/0$#12#$%3-45#-46780")#9,5':,3;,
-
-
83,059,637
-
520$+,-./!$<=."";'#%>?
13
112,500
1,590,532
112,500
1,590,532
520$+,-./!$<=."@'%&#%A/"AB175 "%?
225,000
-
225,000
-
-
20,353,003
-
24,000,000
66,290,101
260,368,600
-
-
12
-
-
58,626,573
-
12
-
-
58,657,210
-
12
-
-
5,552,303
-
41,398,560
-
-
-
32,963,000
-
-
-
@",5'(-46,'%C5D35)1,()3;,2$##12#$%%!7A/0$5':,E%1F936!"6 @",/!$+;0,(!7)+,0$2$##12#$%3-45#-46780")#9,5':,+;0,G$A9H 5)1,I+0#*06=A&#!#12#$%3-45#-46780")#9,(J()2$##$% +9##(E520$+,-.#12#$%3-45#-46780") 5)1,#*06=A2$##12#$%3-45#-46780")#9,(J()2$##$% +9##(E(*#+,-.#12#$%3-45#-46780")#9, (*#+,-.#12#$%3-45#-46780")#9,(J()2$##$% +9##(E520$+,-.#12#$%3-45#-46780") (*#+,-.2$##$%2K$+,!$63-4J1, "$/$%&(C";'#%>? 520$+,-./!$<=."+;0,I,#12#$%%!7A/0$
15
#7"AF#@,'$LID&M&I"$FM)+$.7NOLM&I"$FM)+FP8"L&$)>%/Q+#+R"24432STM24U<2F'V+ W.+#+T1MXDMM&I"$FM)++0*
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
175
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= %
GH+7I>%$0<)!" #$ % ! "-#$" %&'( ) &*'+,- . /0 1 2, 3 (451+.) (“6'7 8, $ ”) *)9 . 6'7 8, $ 451+./0 1 2, 3 :;- < /, 3 !,= < >;= . ?.)'@*$A#$"BC@ 4D$D-&"EF!14$D-#3G/3$@*6D".3,<.D= %H& 159 &1%1'*I'7447!' +,=. 27 - 30 :&"IJ>J4K7$ 21 L..& A2 B>K<%C&<*!"*5.H& *>!K,M.1 2'J<*$N451.%' I01.,2<1.?5OF : 159 &1%1'*I'7447!' +,=. 28 :&"IJ>J4K7$ 21 L..& A2 B>K<%C&<*!"*5.H& *>!K,M.1 2'J<*$N451.%' I01.,2<1.I1>1?.)'@*$APQC7))Q.I( : Suite B, 5th Floor Builder’s Center, 170 Salcedo Street, Legaspi Village, Makati City I01.,2<1.I1>1?.)'@*$A21!1'( : Al Emadi Building Area No.41, Street No.230 Building No.233 1st Floor, Office No.8 P.O.Box 55420 Doha 6'78,$*)9.6'78,$/3$@*6D".?.!C135C,2$',N"(B5F<)'@*$A#$" *NH-&K,!LJ)'@I<%(?.21''1"<1.>G&4EC/;<'K4*'D"26'78,$BC@ 6'78,$"F&"KF1 “2CJF46'78,$” 21')'@2&6RJ'27/5C,2>&<2CJF46'78,$ %H& 21'?5G6'721'3G1.K7AK2''4:;-<'K4L;<21'&&2B6621'/,351BC@2F&I'G1<I015',6 '<<1.&J!I152''4B66%'6K</' <621'*<7.'K4BC@<621'*<7.*SN1@6'78,$#3G',6&.J4,!7/12%T@2''421'6'78,$*4H-&K,.$D- 2 4D.1%4 N.A. 2558
!
!"#$"%$&#'()*! . "61"21'6,O+D$D-I01%,O$D-?+G?.21'/,3$01<621'*<7.'K4BC@<621'*<7.*SN1@6'78,$4D3,<!F&#).D=
"#!
+%,-.%$&/'012$3#%$&+34 ! <621'*<7.'K4BC@<621'*<7.*SN1@6'78,$ ('K4*'D"2KF1 “<621'*<7.”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
176
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
'&'
54!-!$ -!9;74'!H4154! $G/D=>:74'!H4154!!4(;41%4;54!.;"1 74'!H4154!!4(;41%4;54!.;"1I87J 54!'D*<47 74'!H4154! $G/D=>:54!'D*<4774'!H4154!!4(;41%4;54!.;"1 #) $% &'%(#%&)*+,-./0$% &'%(#%&&%12%(3%2#%&425(3-6$-#%&7&*)7&82 #%& -9:%$$% &'%(#%&)*+,-./0#%& -9:%$ $% &'%(#%&&%12%(3%2#%&425(;<$! =>62$-?/)*29*);,@ *A2. ! :*(3-6 1 $#&%9$ B.C. 2557 $-D*2(-A $% $% $% $% $% $% $%
&'%(#%&)*+,- E)*)3-6 1 (7&*)7&82 2555) &'%(#%&)*+,- E)*)3-6 7 (7&*)7&82 2555) &'%(#%&)*+,- E)*)3-6 12 (7&*)7&82 2555) &'%(#%&)*+,- E)*)3-6 17 (7&*)7&82 2555) &'%(#%&)*+,- E)*)3-6 18 (7&*)7&82 2555) &'%(#%&)*+,- E)*)3-6 19 (7&*)7&82 2555) &'%(#%&)*+,- E)*)3-6 21 (7&*)7&82 2555)
$% &'%(#%&)*+,- E)*)3-6 24 (7&*)7&82 2555) $% $% $% $% $% $% $% $%
&'%(#%&)*+,- E)*)3-6 28 (7&*)7&82 2555) &'%(#%&)*+,- E)*)3-6 31 (7&*)7&82 2555) &'%(#%&)*+,- E)*)3-6 34 (7&*)7&82 2555) &'%(#%&)*+,- E)*)3-6 36 (7&*)7&82 2555) &'%(#%&)*+,- E)*)3-6 38 (7&*)7&82 2555) &'%(#%&&%12%(3%2#%&425( E)*)3-6 2 (7&*)7&82 2555) &'%(#%&&%12%(3%2#%&425( E)*)3-6 3 (7&*)7&82 2555) &'%(#%&&%12%(3%2#%&425( E)*)3-6 5 (7&*)7&82 2555)
$% &'%(#%&&%12%(3%2#%&425( E)*)3-6 8 (7&*)7&82 2555)
./0*/1*23453226534*738*79:52;2<23=
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
!"#!$% &'(!%) *+,,-
177
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
!"!
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
#%& #%& #%& #%& #%& #%& #%&
-9:%$$% -9:%$$% -9:%$$% -9:%$$% -9:%$$% -9:%$$% -9:%$$%
&'%(#%&&%12%(3%2#%&425( E)*)3-6 10 &'%(#%&&%12%(3%2#%&425( E)*)3-6 12 &'%(#%&&%12%(3%2#%&425( E)*)3-6 13 &'%(#%&&%12%(3%2#%&425( E)*)3-6 17 &'%(#%&&%12%(3%2#%&425( E)*)3-6 18 &'%(#%&)*+,- E)*)3-6 15 &'%(#%&)*+,- E)*)3-6 27
#%& 9- :%$$% &'%(#%&)*+,- E)*)3-6 29 #%& -9:%$$% &'%(#%&)*+,- E)*)3-6 32
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
178
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
'&'
54!-!$ -!9;74'!H4154! $G/D=>:74'!H4154!!4(;41%4;54!.;"1 74'!H4154!!4(;41%4;54!.;"1I87J 54!'D*<47 74'!H4154! $G/D=>:54!'D*<4774'!H4154!!4(;41%4;54!.;"1 ( !") #) $% &'%()%&*+ , -. / 01$% &'%()%&&%23%(4%3)%&536 ( 4.7 $.) %&8&+ * 8&9 3 $% &'%()%&&%23%(4%3)%&536 ( :;$! )%& .<=%$$% &'%()%&*+,-./01)%& .<=%$$% &'%()%&&%23%(4%3)%&536(4.7$.)%&8&+*8&93 >?73$.@0*+3<+*:-A +B3/ ! =+(4.7 1 $)&%<$ C.D. 2558 1) )09! $ $% &'%()%&*+ , -. 4.7 $. ) %&8&+ * 8&9 3 /01$% &'%()%&&%23%(4%3)%&536 ( :;$! 4.7 5 ).7 2 =#A " 3)+ * )09! $ *&6 E+ 4 $.F+3 !"G8(.B $% $% $% $% $%
&'%()%&*+,-. H*+*4.7 1 (8&+*8&93 2557) &'%()%&*+,-. H*+*4.7 16 (8&+*8&93 2557) &'%()%&*+,-. H*+*4.7 19 (8&+*8&93 2557) &'%()%&*+,-. H*+*4.7 34 (8&+*8&93 2557) &'%()%&&%23%(4%3)%&536( H*+*4.7 13
5&I7"3 )%&(J%5K("3*)%&536( 5&I7"3 4.7F6( "%<%&/01"98)&LM 5&I7"3 @08&1N2-(M#"3C(+)3%( 5&I7"3 3*)%&536(&1;=!%3)%0 5&I7"3 )%&=+F$O0<!%29 6P&&$
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
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
179
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
'&'
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
180
&'%()%&*+,-. H*+*4.7 10 (8&+*8&93 2557) &'%()%&*+,-. H*+*4.7 11 (8&+*8&93 2557) &'%()%&*+,-. H*+*4.7 12 (8&+*8&93 2557) &'%()%&*+,-. H*+*4.7 17 (8&+*8&93 2557) &'%()%&*+,-. H*+*4.7 18 (8&+*8&93 2557)
!"#!$% &'(!%) *+,,-
5&T7"3 !"#$%#&'()*+ ',*-+& &./,01 '&!" 2 ',*-+& "34.%4/%,.5678 /%,'9)8-4"19)&9,0:%;/%, <%&.56781)0=$+>!2?)%2 ',*-+& '(@A/%,;BC%4()5&,+.,040'D)%,%4&%" ',*-+& 566%/E+ ,$%& ',*-+& C%F8'&!"G2$ ',*-+& 566%'7E% ',*-+& ,%4G2$
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
'&'
54!-!$ -!9;74'!H4154! $G/D=>:74'!H4154!!4(;41%4;54!.;"1 74'!H4154!!4(;41%4;54!.;"1I87J 54!'D*<47 74'!H4154! $G/D=>:54!'D*<4774'!H4154!!4(;41%4;54!.;"1 ( !") #) $% &'%()%&*+ , -. / 01$% &'%()%&&%23%(4%3)%&536 ( 4.7 $.) %&8&+ * 8&9 3 $% &'%()%&&%23%(4%3)%&536 ( :;$! )%& .<=%$$% &'%()%&*+,-./01)%& .<=%$$% &'%()%&&%23%(4%3)%&536(4.7$.)%&8&+*8&93 >?73$.@0*+3<+*:-A +B3/ ! =+(4.7 1 $)&%<$ C.D. 2558 ( !") 2) )09!$$% &'%()%&*+,-. $% &'%()%&&%23%(4%3)%&536( )%& .<=%$$% &'%()%&*+,-./01)%& .<=%$$% &'%()%& &%23%(4%3)%&536(4.7$.)%&580.72(/803/01E$!$.@0)&14* !")09!$*&6F+4 $.G+3 !"E8(.B $% &'%()%&*+,-. H*+*4.7 20 (8&+*8&93 2557) $% $% $% $% $% $% $% $% $% $% $% $% $% $% $% $%
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
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
181
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
'&'
54!-!$ -!9;74'!H4154! $G/D=>:74'!H4154!!4(;41%4;54!.;"1 74'!H4154!!4(;41%4;54!.;"1I87J 54!'D*<47 74'!H4154! $G/D=>:54!'D*<4774'!H4154!!4(;41%4;54!.;"1 ( !") #) $% &'%()%&*+ , -. / 01$% &'%()%&&%23%(4%3)%&536 ( 4.7 $.) %&8&+ * 8&9 3 $% &'%()%&&%23%(4%3)%&536 ( :;$! )%& .<=%$$% &'%()%&*+,-./01)%& .<=%$$% &'%()%&&%23%(4%3)%&536(4.7$.)%&8&+*8&93 >?73$.@0*+3<+*:-A +B3/ ! =+(4.7 1 $)&%<$ C.D. 2558 ( !") 2) )09!$$% &'%()%&*+,-. $% &'%()%&&%23%(4%3)%&536( )%& .<=%$$% &'%()%&*+,-./01)%& .<=%$$% &'%()%& &%23%(4%3)%&536(4.7$.)%&580.72(/803/01E$!$.@0)&14* !")09!$*&6F+4 $.G+3 !"E8(.B ( !") $% $% $% $%
&'%()%&&%23%(4%3)%&536( H*+*4.7 8 (8&+*8&93 2557) &'%()%&&%23%(4%3)%&536( H*+*4.7 10 &'%()%&&%23%(4%3)%&536( H*+*4.7 11 &'%()%&&%23%(4%3)%&536( H*+*4.7 12
)%& .<=%$$% &'%()%&*+,-. H*+*4.7 10 (8&+*8&93 2557) )%& <. =%$$% &'%()%&*+,-. H*+*4.7 15 (8&+*8&93 2557) )%& .<=%$$% &'%()%&*+,-. H*+*4.7 25 (8&+*8&93 2557) )%& .<=%$$% &'%()%&*+,-. H*+*4.7 27 (8&+*8&93 2557) )%& .<=%$$% &'%()%&*+,-. H*+*4.7 29 (8&+*8&93 2557) )%& .<=%$$% &'%()%&*+,-. H*+*4.7 31 (8&+*8&93 2557) )%& .<=%$$% &'%()%&*+,-. H*+*4.7 32 (8&+*8&93 2557) )%& .<=%$$% &'%($% &'%()%&&%23%(4%3)%&536( H*+*4.7 1 (8&+*8&93 2557) )%& .<=%$$% &'%($% &'%()%&&%23%(4%3)%&536( H*+*4.7 4 (8&+*8&93 2557) )%& .<=%$$% &'%($% &'%()%&&%23%(4%3)%&536( H*+*4.7 5 (8&+*8&93 2557) )%& .<=%$$% &'%()%&&%23%(4%3)%&536( H*+*4.7 7 (8&+*8&93 2557) )%& .<=%$$% &'%()%&&%23%(4%3)%&536( H*+*4.7 10 (8&+*8&93 2557)
182
!"#!$% &'(!%) *+,,-
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
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= $
+78&"89"$&%:;0 ( !")
$#$
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
)%& .<=%$$% &'%()%&&%23%(4%3)%&536( H*+*4.7 15 (8&+*8&93 2557) )%& .<=%$$% &'%()%&&%23%(4%3)%&536( H*+*4.7 17 (8&+*8&93 2557) )%& .<=%$$% &'%()%&&%23%(4%3)%&536( H*+*4.7 18 (8&+*8&93 2557) )%& .<=%$$% &'%()%&&%23%(4%3)%&536(H*+*4.7 20
5&I7"3 #A" )03J+$84%(*&6)%& 5&I7"3 K8&/)&$J64L6C65DF/)!0M)<A% 5&I7"3 #A"NO%)+GJ6(4&+C2P %$K<&3)%&@08&1K2-(P #A")O%;(G536(49(#+B( 7O%/018Q6J+$C+(LP#"3 &%2)%&5;0!%(.BJO%;&+*$% &'%()%&*+,-. H*+*4.7 19 5&I7"3 @08&1K2-(P#"3C(+)3%( 5&I7"3 J+,,%JO%;&+*)%&)!"J&A%3"J+3;%&6$4&+C2P 5&I7"3 )%&N!%2J6(4&+C2P4.7E$!:-!536(JG:;A5NA%#"3 5&I7"3 )%&K"(J6(4&+C2PN%)0M)<A% 5&I7"3 A(49()%&58RG;(A%G6(:(-!=3)%&@06 JO%;&+*5;$I"3@6=G6(
<) $% &'%()%&&%23%(4%3)%&536(:;$! >?73$.@0*+3<+*:-A +B3/ ! =+(4.7 1 $)&%<$ C.D. 2559 $% &'%()%&&%23%(4%3)%&536( H*+*4.7 4 (8&+*8&93 2557)
5&I7"3 J+,,%8&1)+(S+2
$% &'%()%&&%23%(4%3)%&536(H*+*4.7 4 TI"8Q6*+ 6)+*J+,,%8&1)+(S+24+B3;$G (&=$T?3J+,,%8&1)+(S+2 !") 4.7)6N)%& 58U(@MA"")/01J+,,%8&1)+(S+2 !"4.7)6N)%&TI"E=A $% &'%(H*+*(.BE$!5).72=#A"3)+*)%&GO%5(6(3%(#"3)09!$*&6F+4
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
183
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
'&$
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
'&*
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
184
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= ' '&*
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
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
185
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= ' '&*
1&( 4(54! $G/D ( !") $G/D5>9H7 !"#$% ! .;"1>;%91I1 !"#$%(H+(=>:AH<1)6J.AD(I15"254!!H<7*J4=>: !"#$%!H<7 ( !") '&*&$ AH<1)6J.AD(I15"254!!H<7*J4 #! $ %&'( ) #* + ,%-. / -011! $ 23( 0 4*5 3 $637 2 1! $ 2-8 % 9#':,%:6-01):. % 1$2;'+,<( $. =* #! $ %&'( ) #* + 02$. =* #! $ %&'( ) #* + ->7!261.?841861@(#!$%&'()#*+,%-./-011!$23(0)2A5")1.5291-'($+103047% BC5:103047%1$2DC:3!03$02%.+24*51E67&$()2A5"&'(20 #74=./0-3!0)FA5"-01'("+3!0#E#2 (D(02*) G>8:/0-%8H% 2@>3!0I":#!$%&'()#*+,%-./-011!$23(0/E)J.52ICH%G1A">'>:'($+ #!$%96!:-K0&1G1A"I0'47%I":-./-011!$23(04*5)-.'ICH%L0+G>8:-01&'(20 02#8'#!$%4*5->7!261.?842*#!$%&'()#*+"+@! ;'+ ->7!261.?84/E1861@(#!$%96!:-K0&1G1A"I0'47%I":-./-011!$23(0,%-K0&1G1A"I0'47% 9>E1861@(#!$%)M>*5+%9M>:,%68N<* -K0&1I0'47%)6O')#1O/"A5%I":-./-011!$23(0&$()MP%#!$%G%C5:I":68N<*-K0&1I0'47%)6O')#1O/"A5% 48H:%*H ->7!261.?84/E&2!1861@( #!$%96!:I0'47%"*- !"&M G0-#!$%96!:I0'47%I":->7!261.?84,%-./-011!$23(02*2@>3!0)4!0-86G1A")-.%-$!02@>3!0#!$% &'()#*+I":->7!261.?84,%-./-011!$23(0%8H% )$(%9 !->7!261.?842*L01EF@-J8%,%G%*HI":-./-011!$23(0G1A"186$!0/E/!0+G%*H 94%-./-011!$23(0 #!$%&'()#*+,%-./-011!$23(09#':,%:6-01):.%)QJ0E61.?84;'+9#':'($+103047% 10+<A5"I":-./-011!$23(0G>89>EF>-1E4640:-01):. % /0--01&'( 2 09>E/K 0 G%! 0 +-. / -011! $ 23( 0 ""-&M&'( ) MR ' )F+&$( , %G20+)G 7 M 1E-"6 :6-01):.%I(" 15 '&*&* .;"1>;%91I1 !"#$%!H<7 61.?841!$2)MP%-./-014*5->7!261.?842*".4=.J>"+!0:)MP%#01E#K038N9 !&2!DC:-863$6372BC5:;'+485$&M-O3A"-014*5->7!261.?84 DA"G7(%4*52*#.4=.""-)#*+:"+@!1EG$!0:1("+>E 20 DC:1("+>E 50 I":#.4=.""-)#*+:48H:G2' ):.%>:47%,%61.?841!$21861@( )1.5291-'($+103047%9>E,<($.=*#!$%&'()#*+,%-019#':,%:6-01):.%1$2 ->7!261.?841861@():.%>:47%,%61.?841!$2BC5:&'( 1$23!03$02%.+24*51E67&$()2A5"&'(201$2DC:3!0)FA5"-01'("+3!0#E#2 (D(02*) #!$%96!:-K0&1G1A"I0'47%I":->7!261.?84,%61.?841!$24*5)-.'ICH%L0+G>8:-01&'(20/E1$2&$(,%-K0&1G1A"I0'47% 9>E 3$02)3>A5"%&G$,%68N<*-K0&1I0'47%)6O')#1O/"A5% /0--01 *2@>3!0+7 .=112L0+G>8:-01&'(20/E1$2&$()MP%#!$%G%C5:I": 68N<*-K0&1I0'47%)6O')#1O/"A5% F>#E#2I":-01)M>*5+%9M>:L0+G>8:-01&'(20/EM186M17:-861030 0268N<*I":):.% >:47% )2A5"#!$%96!:I0'47%I":->7!261.?84,%61.?841!$22*2@>3!0)4!0-86G1A")-.%-$!02@>3!0#!$%&'()#*+I":->7!261.?84,% 61.?841!$2%8H% ->7!261.?84/E&2!1861@(#!$%96!:I0'47%"*- !"&M )$(%9 !->7!261.?842*L01EF@-J8%,%G%*HI":61.?841!$2 G1A"186$!0/E/!0+G%*H94%61.?841!$2 10+-01-K0&14*5+8:&2!&'()-.'ICH%/1.:1EG$!0:->7!261.?84-8661.?841!$2/E 8'68N<*)4!04*5->7!261.?842*#!$%&'()#*+,%61.?84 1!$2%8H% 10+-01I0'47%4*5+8:&2!&'()-.'ICH%/1.:-O/E 8'68N<*,%4K0%":)'*+$-8% )$(%9 !10+-01%8H%2*G>8-S0%$!0#.%418J+T 4*5;"%1EG$!0:-8%)-.'-01'("+3!0
186
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= ' '&*
1&( 4(54! $G/D ( !") $G/D5>9H7 !"#$% ! .;"1>;%91I1 !"#$%(H+(=>:AH<1)6J.AD(I15"254!!H<7*J4=>: !"#$%!H<7 ( !") '&*&* .;"1>;%91I1 !"#$%!H<7 ( !") #$%&'($!)*+,-./0123342#5265$#'780-(!5(01+95-.:3-;<1"=>?@"AB/?"C6'#342#5265$#'780D"C6/E!*#$%&'( 695F$G/,D5A(E3 G/, -C%3/C(E3+5665$/A@'A@!)3=3#$%&'($!)*+,$'#$H?=3695F$>$<"D5A(E3 -C% 3/C(E 3=3#$% &' ($! )*G@AC=3C#65$-C% 3-I;5,#$% &'(4A2=8? )% J0 $5B5(E 3 $528<1 "D"C#$% &'($! )* G/,K/6$,(# (5C65$-C%3+5665$FA?*5G/,+95>3!52#$%&'($!)*""6F.FA?-.LA-K2F)?=3>*52-> E.$,6"#C#65$-C%3D?" 14
'&(
54!=->;*H4.;"1'!4'H4;-!:.%F (6)
@6E/-C%3(01=8?=365$A95-3%3C53G/,@6E/-C%3(01=8?395-@3"C#65$-C%3 $5265$(01$)*=3C#65$-C%3D"CG !/,#$%&'(=36/E!*#$%&'()'A*H/B!54A2=8?@6E/-C%3D"C@M5;G)A/?"*(5C-N$&O6%+>/'6 (01G !/,#$%&'(A95-3%3C53"2H! (@6E/-C%3(01=8?=365$A95-3%3C53) C#65$-C%3G@AC=3@6E/-C%3#5( PQ1C-.:3@6E/-C%3(01=8?=3 65$A95-3%3C53D"C#$%&'(G/,-.:3@6E/-C%3(01=8?395-@3"C#65$-C%3D"C6/E!*#$%&'(
(D)
$5265$G/,2"ABC->/<" $5265$(01 - .: 3 @6E / -C% 3 $5 ! 5 C.$,-(NG./CB! 5 -.: 3 @6E / -C% 3 (01 = 8? = 365$A9 5 -3% 3 C534A2=8? "' $5G/6-./01 2 3 R )'3(01-6%A$5265$ $5265$695F$G/,$5265$D5A(E3(01-6%A+5665$$'#>$<"+!52895$,(01-.:3-C%3 $5 !5C.$,-(N G/,(01-6%A+56 65$G./CB!5@%3($';2SG/,>30T@%3(01-.:3 ')-C%3PQ1C-.:3-C%3 $5 !5C.$,-(N FA?#'3(Q6F)?=3695F$>$<"D5A(E3 -*<1"*065$$'#$H?$5265$695F$>$<"D5A(E3D"C$5265$(01F*!-.:3 ')-C%3F)?=3695F$D5A(E3-#UA-@$U+"<13 "CBS.$,6"#D"C"' $5 G/6-./0123('TC>*AD"C695F$>$<"D5A(E33'T3+,$'#$H?F)?=3695F$D5A(E3-#UA-@$U+"<13A?)2 =3(5C $CD?5*65$$'#$H?695F$>$<" D5A(E3D"C$5265$(01F*!-.:3 ')-C%3F)?=3695F$>$<"D5A(E3 "CBS.$,6"#D"C"' $5G/6-./0123('TC>*AD"C695F$>$<" D5A(E33'T3+,$'#$H?F)?=3695F$D5A(E3A?)2
(B)
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
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
187
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
'&*
.;"1A6=>:!4(54!.%D( .%H4.;"1A6 #$%&'()*+,-./-,#01.2#0!-#$%&'(3,+/"2(45. #$%&'(6&78" #$%&9-/:&-;-,3,+#<0=!-.;8&#78>"05$?-7 #$%&*$0@&,+.+'AB&"8>&01>71 '<-C;*!"$6&/-,#3*1>.&78"'D$EF>$71"-.@G7!#/%&'-7#(8"&&A2=-/5A&01>G(47-
'&)
>I581DC54!*J4 *D/H&1B/-,;4-,A2,D4#,%>7),/(45.7D*;!- -762)=4$H&1B )*+=+5A(7D*;!- !"7-(45.=I-&5&#$%&01>#H*8"".D!HA/(45.;!-#J8>"H&1B'$'A.=+'DK EF>$3,+7-L=-//-,'"20-&."(;$#H*8" L 5A&'%B&3M ;!-#J8>"H&1B'$'A.=+'DKH7-.?F$J* !-$,+H5!-$,-;- -72AKN1O"$ *D/H&1B/-,;4-#3,1.2#01.2/A27D*;!-01>;-(5!-=+G(4,A2=-/*D/H&1B/-,;4- H&1B'DK01>#/%(OFB&=+,A2,D46&$2/I-G,O-(0@&P(.?8"#3Q& '!5&H&F>$O"$;!-6N4=!-.6&/-,2,%H-,
'&+
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
188
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
'&*
<$A69A34!+;*>$; #$ % &' %( ) *"+,-$ + .%&+&/ # 0*),)1' 2 3-$ + 3$ 4 ,! ) 5678 " #$ % &' %( ) *"+,-$ + -/ ) %9$ 0 :&0*),)1' 2 ,( ) 2#; )9#< =>?$ # 5@->8 05,-78 " 21>8 #$%&'%()*"+,-$+.04A*B5C1D&/5 AE2#$%&'%()*"+3-$4.-B#$%&'%()*"+1$8#DA #$%&'%()*"+3-$4FG/%()3*$H"'A4*;I5@J)BF2 :*+DKKL) .-B#$%&'%()*"+1$8#DAFG/F2+)2M!"91$8#DA H*<N$1D&/J<O)*;) $P+,!)5678"4)*-/)%9$03*7"5%78"9,';C)J5AE24*;> )9 54;QI5@J)B5O)BO+
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
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
189
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
'&%% .;"1>;%91 #$%!&'()*+,-+./(012,13)4$3,%4,564"#1748"-9#13)4$3,%4:4'()*+,;!"; '()*+,(!<&=$0>!<4?.@1>5;:4#)-#9((!<&A@91/B4>9&/(012, A8" 13)4$3,%4,56C8"?<@-4A('#D974. 13)4$3,%41E86"A@9 =$013)4$3,%4,+6<?/ #9(-+./(012,FGH4";I!#+'-%.&%!37&9;FJ0$3,%4 K.;LM9; '()79(-01/B4NI@#D974.#9(-+./(012,,5617&90>&>D97(+'13)4$3,%4 J 1<$9$3,%4=$0,',<4#9(-+./(012,";!93>&6D91>&" -
13)4$3,%4,56C8"?<@-4A('#D974. A8" 13)4$3,%4,56&5#D974.1<$9=$0NI@'()79( +H3:-=4!<=4!E(@"&#+'&5A<9&>9&9(CC8"?<@ -4A('#D974. ?.@= >.3(<&?<@:4>)4,(+E;O ?&!7&% 41<5 ;4 1<@4= !-0A('#D974.29;:4 12 1.8"44+ '= ! <+4>)H 4("' (0;01<$9(9;394 #P-0=>.3?<@:4>)4,(+E;O7&%41<5;4
-
13)4$3,%41E86"A@9 A8" 13)4$3,%41E86"-%.&%!37&9;7$+#:4#9(79#D9?(-9##9(1/$56;4=/$3(9A9:4Q!<31<$9>+H4 =$0(<&?<@:4 >)4,(+E;O7&%41<5;4
-
13)4$3,%4,+6<?/ A8" 13)4$3,%4:4 (9>9(,%4,56?&!&5 $9.R8H"F9;A$!"3("3(+'
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
190
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
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
20 0Y 5 - 10 0Y 5 0Y 5 0Y
96-*!)*<8;-:",-.")A/1)+I;70+.EAK(3C"<?'(#+4HA3L&7#5#@(,-.0+450+/< )9*@)98;9).?9 2 #/1?'>(+"5+.A.8@-) +)A<)( I(1+2$#$%+)*) )954SK$C"<?'(#+4HA3?6<1@!)96-*!)#$%*)&@!)=.L&7+45*:( +)*) )954SK$=.D610+45-&I;78#!)14596-*!)#$%*)&@!)=. L&7+45*:( B-1O)L+;+:"C)&#/(#$%81'&=)11)+=O);(!)A?'(#+4HA3*O)(@2E&A80+$A58#$A5=)1?'%< "5,#(?/#V'#$%L&7+45=)11)+=O);(!)A ?'(#+4HA314596-*!) )954SK$C"<?'(#+4HA3 ,-.=.+45+67B-1O)L+;+:"C)&#/(?/#V'I(1O)L+;+:"C)&#/( (7 #/(1)+167A:9#$%81$%A@C7"<E&A +<1451)+L&79);+:"1)+1!"?+7)<?'(#+4HA3=.54(#P180Q(?!@(;(P%<C"< 7(#/(C"<?'(#+4HA3(4>( -"& K!@<8@-)1)+1!"?+7)<,-.8 +$A9?'(#+4HA3(4>(I;7"A6!I(?J)HH+7"9#$%=.IK7L&7 )90+.?<*3 ?!@( 7(#/(1)+167A:9":%(("18;(:"=)1 #$%1-!)@C7)< 7(=.54(#P180Q(*!)IK7=!)AI(1O)L+;+:"C)&#/(
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
191
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
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
192
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
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
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
193
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
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
194
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
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ctuarial Technique) ".+<%B+ %&'41N/1&?1/4J$C!1%M??35.+2"0/&'ED<06+D98A>C19;!1?' :"0?!1)F+"+1C E$'CL1+;NC69$9(9)F*:". &19"/<5A@)2"0 -.+S5. &&.T51$8A>4A/L1G+9<;$1F/$:<CA)0/.5&')'<;$12"0G+A@D6+9.0/$!1; (9)%&'41N/1&/&'ED<06+D98A>C19;!1 ?' :"0?!1)F+"+1C +.@+%&'41N/1&?1/<06+<9="+-+./01+ ". &1/1&$1""/ ". &1/1& 1) "1)301+ E$'%M??.)"=>+ /L1H&G&="21983+?1//1&<%$A>)+E%$0%&'41N/1&?'&.5&J:<%B+C!1F*:?!1)F+/L1H&G&="21983+DL1G&.5&"5&')'<;$1 5.R*A8A></69&1)/1&+.@+ 8.@0+A@ C!1F*:?!1)8A></A>);2:"0/.5#$%&'()*+,-+./01+?'5.+8P/F+/L1H&G&="21983+<-=>"/&'?1) :+83+9.0/$!1; $"9&')'<;$12"0/1&?:1001+ '&'*&' 5+;%91A34!+;.>DC(;/D@ 5&67.8?.9FG:4A/"083+DL1&"0<$A@)0*A-OP>0<%B+E#+/1&?!1)D485 148A>/L1G+9H;: D6+8&.-),2"0/"083+DL1&"0<$A@)0*A-H9: E)/""/H%?1/D6+8&.-),2"05&67.8 E$'4A/1&5&6G1&(9)#J:?.9/1&/"083+I1)+"/ /"083+DL1&"0<$A@)0*A-H9:&.5<06+ D'D4<2:1/"083+?1/-+./01+E$'<06+D485?1/5&67.88A></A>);2:"0 <06+?!1)D485/"083+DL1&"0<$A@)0*A-5.+8P/<%B+ C!1F*:?!1)F+05/L1H&21983+DL1G&.5&"5&')'<;$15.R*A8A></69&1)/1&+.@+
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
195
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
'&'% 54!2H4(&6(I/J89J1.-K1.5LM, #$%!&'()*+,-./01)123(4#/(5$ "'6,171+#4/12-89:;<%;10=>10#?@A,BC:./(D-;E8 (/F/(,%1 2-8,BC#)G#/(H-;(+''()#/(G/# 71+#4/1 0=>1F)C4 "'6,1F./<(+' (/F/(,%1 (F),I)JKL"<%;1) ,BC#)G#/(""#9<; &M$3!/8% )I((&N"4'()#/(N"471+#4/107KC" 6$#0=$BC81#+'#/(9<;F),I)JKL"<%;1GD(+'(M;0=>13!/9:;G!/8 G./1E1(E&,BC +-0=>13!/9:;G!/8GD";/4")4G/#&M$3!/8% )I((&N"4F),I)JKL"<%;1 ,BC""#9<;2-8H&!(E&5$#(D,'N"404KC"1HN#/(H-;(+'F),I),BCH&!9:!04KC"1HN#/('()#/(<(K"5$4/1 04KC"1HN#/(H-;(+'F),I),BCH&!9:!04KC"1HN,/4 $/-GD(E&"8M!91N;"F&& )O/10#BC8E#+'G./1E1N"4F),I)JKL"<%;1,BC3/-E!/GDH-;(+'F),I) 3!/9:;G!/8,+L4<&-GD(+'(M; $"-(D8D0E$/H-;(+'F),I) JPC40=>1H= /&04KC"1HN#/(H-;(+'F),I),BC#./<1-HE; #$%!&'()*+,GD,',E1#/( =(D0&)1G./1E1N"4F),I)JKL"<%;1,BC3/-E!/GDH-;(+'F),I) JPC4NPL1#+'04KC"1HN#/(H-;(+'F),I),BCH&!9:!04KC "1HN#/( $/- 6$DGD(+'(M; 5$#(D,'N"4#/(=(+'=(%4=(D&/?#/(0()C&6(#91#./H(<(K"N/-,%17(;"&#+'#/(=(+'=(%4(/8#/(H=8+4F!E1N"45M;QK"<%;1 ? E+1F)L1("'(D8D0E$/#/((/84/1 0&KC"&B#/(9:;F),I) '()*+,GD""#<%;19<&! F)C4 "'6,1,BCH-;(+'F%,I)N"4 ;1,%191#/(,./(/8#/(,/4 (4GD03(-) H=8+4,%10(K"1<%;1 (&M$3!/ /&'+R:B) 6$D F!E10#)1&M$3!/<%;10&KC"&B#/(9:;F),I) #(?B,BC'()*+,9<;F),I)JKL" (/F/(,%16#!71+#4/1N"4'()*+,8!"891#$%!&'()*+, GD=S)'+ )0<&K"1#/(07)C&,%1"8!/4<1PC4 #$%!&#)G#/( ;"4E+-&M$3!/8% )I((&N"4'()#/(N"471+#4/1 2-8";/4")4#+'&M$3!/8% )I((&N"4 (/F/(,%1,BC""#9<; &M$3!/N"4 (/F/(,%1 0<$!/1+L1 ;"4E+- ? E+1,BC9<;F),I) JPC4GD(+'(M; $"-(D8D0E$/,BCH-;(+'F),I) 0:!10-B8E#+1#+'#/(07)C&NPL1N"404)1$4,%191'()*+,8!"8 '&'' %91.!N+189J1 <%;1F/&+R6$D<%;1'%()&F),I):1)-HQ!Q"1H&!H-;,BCF/&/(Q#./<1-04)1=T15$H-;"8!/4")F(DGDG+-=(D0U,HE;0=>1F!E1N"45M;QK"<%;1 <%;1=(D0U,"KC1JPC4(E&QP4<%;1'%()&F),I):1)-'+43+'HQ!Q"1GDG+-=(D0U,HE;0=>1<1BLF)1 1; ,%1,BC07)C&NPL10#BC8E#+'#/(""#<%;19<&!<(K"F),I)91#/(JKL"N/8<%;1,BCG!/8""#H=2-86F-4(/8#/(-+4#$!/E-;E8G./1E104)1F%,I) G/#U/*BHE;0=>1(/8#/(<+#91F!E1N"45M;QK"<%;1 2-81./H=<+#G/#F)C4 "'6,1,BCH-;(+'G/##/(""#<%;1
196
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
'&'$ 54!!$ !HI!4()6I 5#
!4()6I245;415J+A!I4; #$%&'()$**$#+,(-#.*$# $/0122$*!"0#($3#4%4%$5)467"89:;#$%&'( $/0!5;<"33$;=>?@A(580#B)CD?39#48/.;E'% F.)$#G$)$**$#0H$#5)=$3*$%I$FE'%5.J5*#KL(-#.,$#EM#3*$##!5/*1-8)($<"3,#7"AL*M($ E'%)4 1N30H$#"3M!$8K7?" KA<$'=O ; 0H $ ,#1 - EM#3*$#*! " 0#( $ 3=1N 3 )H $ ;5;8/7? " =#$-@;! P1 ' 5! $ EM#3*$#*! " 0#( $ 3;1N ; )49#40-KA<$'=O ; ('L;E%-$%-12P><(" 2.10 8#7?"30122$*!"0#($3)
K#
6+5. DC(!$ '"*8->N%#1-67"89:;#$%&'( $/8*GQRM3M($3E'%MH$;D36D3"1 #$KA "-@=;=>?@=()#.3
*#
.;"1-L1M>!$ 83.;9S;KA#1-67"89:;#$%&'(8/7?"/>0.=T.+;*$##1-83.;9S;KA
;#
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
'&'* 'I1%91O154!5J+A!I4; ;( =O;3$;*!"0#($39#4*"-'(5% (;=O;M!$@#3 M!$#1-8,/$P!53*$#*!"0#($3 M!$-#.*$#@A4M!$+P()!$%"7?;CD?3MH$;5G $/0!5;<"33$; =>?@A(580#B) 0122$=>?/> (;=O;3$;*!"0#($3=>?)!$%)#.3/$**5!$)H$;5;=>?M5#67"89:; (;=O;+;*$#+,(-#.*$# $/0!5;<"33$;=>?@A(580#B)@ !%13&/!/> *$#8#> %*PH $ #483. ;@A4 ( ;=O ; <"301 22$=>? %13&/!8 #.? /#1 -#L( #$%&'( )4@0'3&5( 8 9: ; “3$;#4,5! $ 3*!" 0#( $ 3” I$%+ ( 0. ;=#1 F%R ,/O;85>%;+;3-@0'3V$;4*$#83.; @A40122$=>?/> (;=O;+;*$#+,(-#.*$#)$**$#MH$;5G $/0!5;<"33$;=>?@A(580#B)/$**5!$ (;=O;3$;*!"0#($3=>?)!$%)#.3)4@0'3&5(89:; “ (;=O;3$;*!"0#($3M($3)!$%” I$%+ (,;>N0.;,/O;85>%;+;3-@0'3V$;4*$#83.;
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
197
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
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
198
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= '
1&( 4(54! $G/D ( !")
'&') HI+7J>234=15'47AK<1;41 #!$%&'%()'*%+%&'%,(-./01'2&'%3%450678*(92$05:1'2&'%;'23%<9=%)'*#%"3>-?/-@9")'%'A 5(#+%3A#/&#B((-'%0'1()'*%+%&'% ?/-@9")'%'A 5(#+%3A#/&#B((-'%0'1()'*%+%&'%>@'2.C&:BDD4<9=@9>%-'<9=3%0'1A5(#11<15E2'01F48G18*@+%?40'1GH+:5 +&'% I"&#!$%&'%()'*%+%&'% JC=&E+A'17'$!'DK" G18L'%*A-'>%-'<9=:1+>'1F48011@0'1?/-A5(0'13>M! <9=<)'0'1 5(#+%3A*N+&042B<LO $
L>5!:% 24554!-M" $'"'4754!'D*<4774'!N4154!!4(;41%4;54!.;"1? $ %D0 %' .!O0+;HI+'5>;A$7-%41 !"54! 04B!@:1+65<,(-3N-$+L9G15:2-"%>45&#)'>15:0'1GH+:5 + '@0'1 9D$'@@' 1P'%0'11'2&'%<'&0'1*&+%Q:5:<9= 12 *1K="&I-" 04& #5@G<'%:1+0'1 R(2@9?4018<:(5& !",G%9S ?4018<:I"&0'1%)'@' 1P'%I-'& -%@'3N-GH+:5 + @9?4 !"&:F#(&P'%80'1*&+% $5%<9= 1 @01'D@ E.T. 2556 (5& !",G%9S "81K<( * 4%# ; 54!.;"1!<7 '47%D0 !4(;41)<I.6"7 !4(54!-!$ -!9; ; =A6;N41:54!.;"1 <$1%D0 % 75!4*7 @&F& '((+ <9=(+% "'D'1F48"BG017O - #B<L+ #+%<15E2O,@!@9 5$ % - #B<L+ 4/0>%9S '@I-" 04&#5@G<'%:1+0'1<9=.C&0)'>%(15:N)'183%>%C=&GU &'%18>$!'&0!"#1-'& - 0+A0'1"K=% 4/0>%9S '@I-" 04&#5@G<'%:1+0'118282'$ >%9S#+%;'69*&+%,(-1"0'1 5(:5MN9 #!$%I"&?/-.K">B-% 0)',1#8#@25&,@!,(-A5(#11 $5%<9= 1 @01'D@ E.T. 2556 "&DOG180":"K%= I"&#!$%I"&?/.- K">B-% #!$%,(-*#92<9=,@!@9")'%'AD$:DB@ ?4 !'&A'00'1FG4&D!'&:0'1*&+%
./0*/1*23453226534*738*79:52;2<23=
969,946,762 200,470,168 66,564,174 1,131,381,984 (7,065,668) 263,442,250 (16,476,464)
(742,703,967) (177,772,546) 31,381,473 187,686,645 829,544,352 24,025,492
'47%D0 -!$ -!9;P87K
227,242,795 22,697,622 31,381,473 254,250,819 829,544,352 24,025,492
64,548,489 1,195,930,473 (189,145) (7,254,813) 39,751,167 303,193,417 (189,145) (16,665,609)
!"#!$% &'(!%) *+,,-
199
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= $
G>5!:% 24554!-H" $'"'4754!'D*<4774'!I4154!!4(;41%4;54!.;"1? $ %D0 %' .!J0+;KL+'5>;A$7-%41 !"54! ( !") #$%&'()*"+%,&-.,/, &0,-*1,+ 1-/,231456)7 6 !"#$%&'()*+',-./0-12'3. 4 56.7!8 31 96.5-: ;.<. 2556 )#/ '(0=->1?-+7@.2(A+2*1AB*=-C16(DE*3F.*@+56.7!8 31 96.5-: ;.<. 2556 +6'$%&>D.!F ! !"#$ " %&'# (%)&*+(,!*#-
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
200
!"#!$% &'(!%) *+,,-
.&-'/0 *&$(&!1#2+3,-
*&$)&*4*5%4*6(
.&-'/0 4*5%4*6(7 -"
26,307,790 2,430,375,607 4,003,705,021 194,719,438 213,597,938 62,123,485 2,382,447
(26,307,790) 81,204,607 (87,198,317) (3,721,540,590) (174,022,275) 75,721,295 877,364,883 3,530,263,558 (1,315,389) 103,906,871
81,204,607 2,343,177,290 282,164,431 20,697,163 75,721,295 1,090,962,821 3,530,263,558 60,808,096 106,289,318
1,423,603,055 (29,548,953) 571,271,003 (38,959,749)
279,163,127 81,513,042 89,586,939 81,513,042
1,702,766,182 51,964,089 660,857,942 42,553,293
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= $
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
./0*/1*23453226534*738*79:52;2<23=
105,107,385 24,024,483 13,928,110,209 59,050,783 662,290,185 162,097,349 631,953,368 (23,056,009) 16,071,191 1.23
!4(54!-!$ -!9;
'47%D0 -!$ -!9;N87M
2,456,808,420 2,456,808,420 72,795,905 72,795,905 (105,107,385) 60,443,218 84,467,701 (58,245,764) 13,869,864,445 2,332,844,730 2,332,844,730 59,224,405 59,224,405 (59,050,783) 638,830,167 (23,460,018) 79,881,379 241,978,728 247,953,017 879,906,385 10,282,369 33,338,378 91,134,937 107,206,128 0.40 1.63
!"#!$% &'(!%) *+,,-
201
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= *
54!2$654!*<47.AD0(;%4;54!.;"1
*&%
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
# #
202
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= *
54!2$654!*<47.AD0(;%4;54!.;"1 ( !")
*&'
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
*&$
54!-!:74K7L>*M4(9'"E!!7 &2$1!5E% )8((&G"="0%7+089,:;&: $5C><F"G5E1$!"=("=(+'#N5I0C&2$1!5PCEG?F0"E2!#+'(515 $5C,:;&:#5(-.QC-RE S @+0,:;60='K3C= T50B#5(-=)0 &2$1!5E% )8((&G"=3+445><F"G5E-=)0 (5 !5=.(B-,H$!@=I0D5.(B-&)0PCE6LD(515 $5CG"="+ (5K$#-.$:;E0 S @+0,:;60='K3C=T50B#5(-=)0G"=3+445><F"G5E-=)0 (5 !5=.(B-,H$!@=I0D5 &2$1!5E% )8((&PCE.(B&5SG"=3)0,(+7E9,5=#5(-=)0K$BI0:F3)0,5=#5(-=)0,:;&:"5E%1=-I$<" ;N5#@!5I0?;=.U&:1!56#$D-1:E=#+'&2$1!5 5&'+4L:
(
-!:74K54! $G/D%D0A34*$G NO+A77'"P41=>:54!Q/O69>(@"1"2 #5(.(B&5S#5(,5='+4L: GD"3&& )T50K$B#5(6LDC%$E7)0)AJCD&:#5(.(B-&)0,',@0"E!5= !"-0<;"=K$B"E2!'07<F0T50G"= .(B3'#5(S9 6 0"C: K$B.V A A+ E "<; 0 W >?; = (@&X? = #5(15C#5(S9 6 0"051 ,:; - L<; " @! 5 &: - I % R $603X50#5(S9 G SB0+F 0 #5(.(B&5S#5(,5='+4L: GD"3&& )T50 K$B#5(6LDC%$E7)0)A,:;3N51+4 JCDK#! (&%
'O1%9154!5M+A!O4;*O4;2M4( D0,%0=50#!"3(D5=1D5=A!5E S @+03)F0.U-./0AN50@0,:;R2D'()I5(.(B&5S#5(A5#.(B3'#5(S9PCE1N50?=X?=1@5&#D5@I0D5 G"==50K$B D0,%0,:;-#)CG?F0G"=P1(=#5(,:;-./0.VAA%'+0
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
203
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= (
-!:74G54! $H/D%D0A34*$H IJ+A77'"K41=>:54!L/J69>(@"1"2 ( !") (&'
!4()6J245;415M+A!J4; #$%&'()!$*!"+#($,-./ (0120)!$*!"+#($,#34#5('(6%6789"($,"7,*34:3;0)6$<+=$>#?@:",,$0A'%63'@$**$#+=$#6@"3 #$+!60 :",,$0*!"+#($,19B1=$>+#?@*34,$0*!"+#($,13;,C<' $<+3DD$A'%E7@$#F$@$**$#+=$#6@1$,*$%G$EA'%67H6*#I5(4#7C$# A)#,*$##!6<*34>@($:",C#J".5*)($
(&$
A$HH4./M4 K0*$#E7@$#F$L#/>G1:",+3DD$>M!$6!$>LN0+3DD$>M!$'=$>070,$0C#J"+3DD$>M!$1$,*$#>,70 OP$%4#7C$#&'(KM('2.%E707@ K0*$#L#/><70>,JB "0&:-./#$%./>"9%':",+3DD$>EJB" E7@$#F$6!$*.2!<4#7 Q31&'( A"0C#J"#34A"0)6$<>+9B %,-./ I.L#/A%M0RK0+701#3E%R19B>M!$'3,*.!$6-.(6C#J"&<!
(&*
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
(&(
-!:74G54!81DCA"1=>:81DCA"1%D0+422:.5"6IOC1 *.2!<4#7Q31<9L#/<$F*$#C09;+70+=$C#34G$#/I5*E30 $<+3DD$:(" *.,+3<L1$0K0*$#4=$#2,#3*Q$C#J"L#34L#2, Y!"<-Y<A)#,+#($,EJ;0U$0 A'%L#/<$F*$#@$*-I0K0*$#4=$#2,#3*Q$ ."'"$%2+3DD$+3<L1$0 *.2!<4#7Q31<9C09;+7019B"$@@/>*7':T;0@$**$#X5*VW",#(",>#9%*)!$>+9%C$% YTB,OP$%4#7C$#&'(KM('2.%E707@K0*$#L#/><70I. :",)'919BX5*VW",#(",-.(6-./>MJB"<3B06!$@/&<!<9)6$<>+9%C$%19B>LN0+$#/+=$)3D>*7':T;0 0"*>C0J"@$*L#/<$F*$# C09;+7019B&'(4301T*&6(-.(6 F 630+7;0#"4#/%/>6.$#$%,$0
204
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= *
54!2$654!*<47.AD0(;G1AH<1I+;%91 !"#$%&'()*+,-).&/0!12345&.&/65&1$3,-).&/0!13!7389:;-<=5&)> ?@A;)* 5B(5B5&#2345&<=583/3)53-CD5)"D-83:;-),-).&/0!1 89:;-(&?5)EF"-.G13"D-EH?#:-6$?3GF'8%I3%&'JCK3+"D-EH?1L;BL(D 3><?8(LC-:;3 GF'89:;-<=5&)> ?@A;)J*&)(&?5),-)1$31L;86B5'(B 89:;-F<"?31$315)45&8)/3,-)1$3 2345&<=5&)> ?6&:-%&!.J*&)(&?5),-)1$3 .&/0!1-5M%&!.3JC.5C45&MD5C8)/3%N3EF26?4!.EH?#:-6$?3 45&*:31$326?G4DEH?#:-6$?3 45&--46$?326BD 6&:-45&,5C(/31&!9C+89:;-F<O5&'63L7(/3
)
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
E9!5"25H+A!J4;
&*!;54!%D0 G8J !"54! -!:.%F)%( 4%
&*!;54!%D0 G8J !"54! -!:.%F+L01 4%
&*!;54!%D0 &*!;54!%D0 G8J !"54! G8J !"54!-!:.%F -!:.%F)%( +L01 4% 4%
-
238,778,873 135,919,429
7,837,205,175 592,303,411
11,499,277,067 515,367,280
19,575,261,115 1,243,590,120 (805,922,030) 437,668,090
171,688,614 188,133,160
31,993,576 462,511,643
76,793,535 12,015,896,991
7,842,187 9,968,959,261
288,317,912 22,635,501,055
A348!$ -BA"C1A96<$1%D0 $% E$1<4*7 @&F& '(() &5C><?M5445&4D-(&?5)GF'26?.&/45& EF45&<=583/3)53"5B(D 3)53 &5C45&1L;>BD(5B5&#%N3(D 3><? 4=5>&($1P/(=56&!.%Y M <$1%D0 $% E$1<4*7 @&F& '(() (/31&!9C+#5 &,-)(D 3)53 (/31&!9C+1!7)(/7323).45&8)/3& B
./0*/1*23453226534*738*79:52;2<23=
!<7 4%
!"#!$% &'(!%) *+,,-
205
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= )
GH+7I>234=15'47AJ<1;41 ( !") #$"%&'()*+,- *%.!/,0*,1*02&%34*. 56#"0-'7!%8539:1 ( !") ; 54!.;"1!<7
A348!$ -BA"C1A96<$1%D0 $% E$1<4*7 @&F& '((* 5*;<=$(*--*5-!".5$*0+'>?@$853-*5 A'-*5=)*B,3,0*, *%.!/,0*, 5*;-*51CD<%!.*%*5EFG,.!/,<=$
E9!5"2@>$;;41
E9!5"25J+A!H4;
-!$ -!9;K87J
&*!;54!%D0 K8H !"54! -!:.%F)%( 4%
&*!;54!%D0 K8H !"54! -!:.%F+L01 4%
&*!;54!%D0 &*!;54!%D0 K8H !"54! K8H !"54!-!:.%F -!:.%F)%( +L01 4% 4%
!<7 4%
-
72,795,905 56,696,499
4,669,977,041 404,747,810
13,122,308,571 1,141,703,629
17,865,081,517 1,603,147,938 (723,241,554) 879,906,384
84,781,664 8,100,534,511
8,620,498 6,210,817,114
282,164,431 14,978,776,666
-)*<5.71H3.)*@5:8FI M <$1%D0 $% E$1<4*7 @&F& '((* .3,15:J;6E*/5#"0.!/,0*, .3,15:J;61:K0.3K,?,08-*5B03,5/%
182,034,051 199,502,872
6,728,218 467,922,169
1:K0 ,CKA&$ %C") *,*( := .3,?(.&0 .7= =$*,-*5=)*B,3 ,0*,?L$ -)* <5-!" , $ ,17 ,1*0-*5B03,+'>2*9C B03 ,<=$?,-*5J3(*5M*A'-*5 =)*B,3,0*,+ !'>B=N", +
.;"1A6=>:!4(54!.%D( .%J4.;"1A6
M <$1%D0 $% E$1<4*7 B03,.=+'>B03,O*-H,*P*5 B03,O*-F5>()*"*;7<%!B-3, 3 B=N", B03,.=+'>5*;-*5B1C;8B1!*B03,.=
@&F& '(() 4%
; 54!.;"1!<7 @&F& '((* 4%
1,488,581,431 122,726,500 1,611,307,931
861,346,054 1,526,321,117 2,387,667,171
; 54!.;"1.?@4: !"#$% @&F& '(() @&F& '((* 4% 4% 283,185,927 283,185,927
386,656,399 1,250,000,000 1,636,656,399
B03,O*-H,*P*5%C": 5*="-B8CK;5$";'> 0.02-7.00 !"FI (J.4. 2556 5$";'> 0.02-8.00 !"FI)
206
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= *
>G581DC54!*H4
I !"#$% !" &!" '() -./-'0#$%1-$%2 3456-!" !"#$%&'()*+,-./*+'0 &1+"/*+'0 - #$%2)3- 3 2.45- 3 - 6 2.45- 6 - 12 2.45- $+))6%+ 12 2.450)
: !"#$% !" &!" '()
-./-'05@%" !"#$%&'()*+,-./*+'0 &1+"/*+'0 - #$%2)3- 3 2.45- 3 - 6 2.45- 6 - 12 2.45- $+))6%+ 12 2.450)
./0*/1*23453226534*738*79:52;2<23=
*#+# $%%& ,'#
; 54!.;"1!<7 *#+# $%%' ,'#
10,168,797
-
200,794,623
4,010,492
42,006,039 52,174,836
4,457,265 4,457,265
3,423,636 70,022,430 4,087,507 4,528,521 282,856,717
508,094,746 4,457,265 516,562,503
*#+# $%%& ,'#
6,-'016."0 ) ;0!,;0<6=>)? *#+# $%%' ,'#
*#+# $%%& ,'#
*#+# $%%' ,'#
890,281,856
2,051,216,809
679,354,950
1,057,901,085
602,881,138 327,258,031 62,908,839 18,263,844 1,901,593,708
281,285,777 50,562,134 87,296 42,897,233 2,426,049,249
602,620,895 327,258,031 62,908,839 18,263,844 1,690,406,559
281,285,778 49,664,148 14,672,463 1,403,523,474
; 54!.;"1.?@4: !"#$% *#+# $%%& *#+# $%%' ,'# ,'#
6,-'016."17*'8,0.9!#
!"#!$% &'(!%) *+,,-
207
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= %*
>G581DC*H45H+A!I4;'47A$JJ4%D0($;)7H)6I.!D(5.5K =>:!4()6I*H45H+A!I4;'47A$JJ4!$ >H<;81I4
%*&% >G581DC*H45H+A!I4;'47A$JJ4%D0($;)7H)6I.!D(5.5K ! 5"254!%D0.5D0(<LI+;5$1
M <$1%D0 $% E$1<4*7 "! #$"%&"'()%*&)+",-%./++$01" *2&3)#45)10)6!+",-%./++$01" !"#$"%&"'()%*&)#457*89:-;".)10.)$% 9!<=*2&3)#45)10)6!+",-%./++$01" >1* 7%8"%<9#457)4=*7*?0+&*@6!<A&+!&%
@&F& '(() 4%
; 54!.;"1!<7 @&F& '((+ 4%
3,113,796,652 385,598,690
2,599,021,209 345,853,882
10,251,573,684 1,140,071,356
5,932,385,269 656,886,455
3,499,395,342 (3,098,567,746) 400,827,596
2,944,875,091 (2,853,911,499) 90,963,592
11,391,645,040 (10,010,082,789) 1,381,562,251
6,589,271,724 (4,529,234,808) 2,060,036,916
; 54!.;"1.?@4: !"#$% @&F& '(() @&F& '((+ 4% 4%
%*&' >G581DC*H45H+A!I4;'47A$JJ4%D0($;)7H)6I.!D(5.5K ! 5"254!+N01
M <$1%D0 $% E$1<4*7 "! #$"%&"'()%*&)+",-%./++$01" *2&3)#45)10)6!+",-%./++$01" !"#$"%&"'()%*&)#457*89:-;".)10.)$% 9!<=*2&3)#45)10)6!+",-%./++$01" >1* 7%8"%<9#457)4=*7*?0+&*@6!<A&+!&%
208
!"#!$% &'(!%) *+,,-
@&F& '(() 4%
; 54!.;"1!<7 @&F& '((+ 4%
35,113,593,538 3,196,977,901
23,420,769,484 2,662,033,806
22,591,417,285 2,262,109,808
19,327,375,487 2,443,775,486
38,310,571,439 26,082,803,290 (32,923,037,779) (22,969,032,208) 5,387,533,660 3,113,771,082
24,853,527,093 (21,566,590,462) 3,286,936,631
21,771,150,973 (19,075,574,018) 2,695,576,955
; 54!.;"1.?@4: !"#$% @&F& '(() @&F& '((+ 4% 4%
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= %*
>G581DC*H45H+A!I4;'47A$JJ4%D0($;)7H)6I.!D(5.5K =>:!4()6I*H45H+A!I4;'47A$JJ4!$ >H<;81I4 ( !")
%*&$ !4()6I*H45H+A!I4;!$ >H<;81I4 ! 5"254!%D0.5D0(<LI+;5$1
M <$1%D0 $% E$1<4*7
$# %&$'($)*+',(+-$./'01--&23$ !"#$%&'$()$*+,-./012,,3)(4+-%3-0"-56$0 "$%&'7 89:/;-1$()1$30 9+<= !"#$%&'$()$*+,-./012,,3)(>( 708-0<9%&'7$&= 7 ?)," @*+<A",+"0
!"#$
@&F& '(() 4%
; 54!.;"1!<7 @&F& '((+ 4%
-
-
-
-
-
- 1,362,269,340 - (1,614,321,398) - (252,052,058)
9"@"$'(()$ -!<$
+-(! 6+21 /7$ 9"@"$'((*$ -!<$
+-(! 6+21689!:- 2;,<$ 9"@"$'(()$ 9"@"$'((*$ -!<$ -!<$
2,563,026,650 208,921,238
4,810,483,219 283,918,164
; 54!.;"1.?@4: !"#$% @&F& '(() @&F& '((+ 4% 4% 1,236,064,751 126,204,589
!"#$%&'!(')* %!+ ,-.'/+01%!$%$(23(! )451$
$ $ =$/,1<>5$& $?,1/!&7$ $ 4+-%3-0"-56$0 "$,-./012,,3)(!"#$%&'$()$*+,-./012,,3)(4+-%3-0"-56$0 "$%&'7 89:/;-1$()1$30 9+<= !"#$%&'$()$*+,-./012,,3)(>( 708-0<9%&'7$&= 7 ?)," @*+<A",+"0
2,563,026,650 208,921,238
3,047,126,609 242,499,516
2,771,947,888 5,094,401,383 2,771,947,888 3,289,626,125 (2,851,396,049) (5,996,377,580) (2,851,396,049) (3,720,139,819) (79,448,161) (430,513,694) (79,448,161) (901,976,197)
$
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
209
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= %%
>G581DC'47HI+'5>;A$7-%41 !"54!
.;"1>;%91H$C1'I1'47A$JJ4./K4 -!$ -!9;M87K @&F& '(() @&F& '((* 4% 4% !"#$%&'()*+,'" -./)01($234"(3 - 356578 (9):7"4$#$;<-0= - 356578 (1%<7"4$#$;<-0=>':9):7"4$#+(0= - 356578 (1%<7"4$#+(0= #/" 3(69?+1(-"(37-4$3,"(33/23!+ )! @:(0ABBC2/$*,-BD($8$7-4$*/&$'<D( !"#$%&'()*+,'" -./)01($234"(3.()(3E 847@3(5#F9?+?/-$%& - !"#$%&'()*+,'" -./)01($234"(31%<B5 9?+3/2G(6H$ 12 7?I,$ - !"#$%&'()*+,'" -./)01($234"(31%<B5 9?+3/27"4$"8:( 12 7?I,$
210
!"#!$% &'(!%) *+,,-
295,755,892 1,179,199,088 6,704,253,016 8,179,207,996 (2,687,492,087) 5,491,715,909
75,721,295 1,168,599,072 4,174,299,132 5,418,619,499 (1,812,634,646) 3,605,984,853
; 54!.;"1!<7 7G>*K4-L229 $1H+;2341<1.;"1H$C1'034 -!$ -!9;M87K @&F& '(() @&F& '((* 4% 4% 134,895,074 577,203,251 4,779,617,584 5,491,715,909 5,491,715,909
75,721,295 553,331,971 2,976,931,587 3,605,984,853 3,605,984,853
134,895,074
75,721,295
5,356,820,835 5,491,715,909
3,530,263,558 3,605,984,853
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= %'
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
22.29 6.90 6.00 3.29 61.52
*):&)*L.6@138K0123*):&)*"<)7890123B)*%B>)",H&, *'=,7:.6:$#%&'(&)*7890&89:/;<6-&,3 *):&)**%4/.)-&,304#.)38K7890&'+;FK30123@1 L)A1*%0GN8$#%0-5963@;7)-&)*"<)L)A*)")789&>)43+@/<C3B,HH)7890&89:/;<6-
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
211
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= %'
!4(54!5$ 9**>=>:5"254!%D0.5D0(<GH+;5$1 ( !")
A348!$ -BA"C1A96<$1%D0 $% E$1<4*7 !4()6H24554!I8H !"54! #$%&'"()%*+(,! -./0123!"3 -./012.!45 6/768..!459%8 6/768.2:;<6:;34=%">61* - #$%&'"()%* 6/768.2:;<6:;34=%">61*"';*
!4()6H*J4 !"54!KJ+7 34!9;!$5#4 -./0123!"3
6+5. DC(!$ -./0123!"3 6/768..!459%8
'H1%91I154!I8H !"54! #$%&'"()%*+(,! -./0123!"3
'H1%91*J4KJ+7 34!9;!$5#4 -./0123!"3
212
!"#!$% &'(!%) *+,,-
@&F& '(() 4%
; 54!.;"1!<7 @&F& '((* 4%
320,241,051 63,250 2,698 6,075,048 2,007,463 328,389,510
4,628,520 971,183,174 975,811,694
320,241,051 2,788,079,028 63,250 2,698 6,075,048 3,114,461,075
3,999,820,033 4,628,520 971,183,174 4,975,631,727
-
-
50,471,206 50,471,206
43,125,000 43,125,000
1,053,132 1,053,132
-
58,550,523 58,550,523
2,665,265 2,665,265
-
3,968,135 3,968,135
12,319,560 12,319,560
3,968,135 142,332,686 146,300,821
-
-
24,400,100 24,400,100
9,693,538 9,693,538
; 54!.;"1.?@4: !"#$% @&F& '(() @&F& '((* 4% 4%
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= %'
!4(54!5$ 9**>=>:5"254!%D0.5D0(<GH+;5$1 ( !")
A348!$ -BA"C1A96<$1%D0 $% E$1<4*7 .;"1-I1J>2K4( #$%&'"()%*+(,! -./-012345-34678%"9-:* - !"#$%&'"(
"! #$%&'()**+)"*&,-./0%*12"* )*+,-./(0+,.,123(4%56(2758( )*+,-./(0&)25%%798758(
: 59(';< !" =9(5" +
,/)2(;?)"* 0" ( )1@)"*';<4);<A5B0$3)9( 1:(;+26.0&<'(=>?.( @+:A2;.B%. @+:A2;+B>< 7:978++B><C"8 7:978+;?D=7?D.>4"%572( - !"#$%&'"(
1:(;+26.0E<B&<'(=>?.( @+:A2;.B%.
./0*/1*23453226534*738*79:52;2<23=
@&F& '(() 4%
; 54!.;"1!<7 @&F& '((* 4%
87,360,000 63,444,430 150,804,430
92,352,000 77,361,890 169,713,890
87,360,000 63,444,430 150,804,430
92,352,000 77,361,890 169,713,890
99,999,662 2,988,426 102,988,088
89,089,846 463,626 89,553,472
90,905,973 1,698,583 92,604,556
79,270,809 1,936,479 81,207,288
7#># $%%& %"'
3%)"*431(*5+ 7#># $%%' %"'
42,016,739 10,158,097 52,174,836
4,457,265 4,457,265
258,293,669 14,404,951 10,158,097 282,856,717
512,105,238 4,457,265 516,562,503
-
-
74,272,243 74,272,243
-
; 54!.;"1.?@4: !"#$% @&F& '(() @&F& '((* 4% 4%
3%)"*431(467"-%*189' 7#># $%%& 7#># $%%' %"' %"'
!"#!$% &'(!%) *+,,-
213
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= %'
!4(54!5$ 9**>=>:5"254!%D0.5D0(<GH+;5$1 ( !")
I <$1%D0 $% E$1<4*7 >J581DC+K01 ! 5"254!%D0.5D0(<GH+;5$1 #$%&'()!") *%+*,$(-./*-.)012"3*'4 - 56278"9:24
>J581DC'47A$LL45M+A!H4;%D0($;)7M)6H.!D(5.5N ! 5"254!%D0.5D0(<GH+;5$1 #$%&'()!") *%+*,$$!0;<2, 56278"9:24=9>! *%+*,$(-./*-.)012"3*'4 - 56278"9:24 ;41!:8<M4;5M+A!H4; ! 5"254!%D0.5D0(<GH+;5$1 #$%&'((-./*-.)012"3*'4 - 56278"9:24 .;"12M4(>M<;81H4O8HPJH!$ .874/M<; ! ! 5"254!%D0.5D0(<GH+;5$1 #$%&'()!") .;"12M4(>M<;81H4*M489H1 ! 5"254!%D0.5D0(<GH+;5$1 *%+*,$(-./*-.)012"3*'4 - 56278"9:24 6+5. DC(*H4;!$ 245.;"1O8H5JH(K7 ! 5"254!%D0.5D0(<GH+;5$1 #$%&'()!") *%+*,$$!0;<2,
214
!"#!$% &'(!%) *+,,-
; 54!.;"1.?@4: !"#$% @&F& '(() @&F& '((* 4% 4%
@&F& '(() 4%
; 54!.;"1!<7 @&F& '((* 4%
56,496 56,496
745,582 745,582
9,495,192 56,496 9,551,688
116,380,944 56,496 116,437,440
282,620 309,333,884 91,211,092 400,827,596
90,963,592 90,963,592
980,734,655 282,620 309,333,884 91,211,092 1,381,562,251
1,969,073,323 90,963,593 2,060,036,916
92,476,844 92,476,844
55,860,618 55,860,618
92,476,844 92,476,844
55,860,618 55,860,618
-
-
80,092,854 80,092,854
449,106,016 449,106,016
-
66,290,101 66,290,101
-
-
674,568 674,568
-
7,101,633 7,101,633
3,480,975 3,480,975
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= %'
!4(54!5$ 9**>=>:5"254!%D0.5D0(<GH+;5$1 ( !") I !"#$% !" &!" '() -./"0123!"45.'" ( 3/63'1#$%-3$%7 89:.3!" !"#$%&'()*+",-.'"/01" 2$!3%#$4-* !"#$%&'(5*4)*+",-.'"/01" 2$!3%#$4-* -./";<93=97>) ( 3/63'1#$%-3$%7 89:.3!" !"#$%&'()*+",-.'" 2$!3%#'4/' 6!768$$4-*9:8 !"#$%&'(5*4)*+",-.'" 2$!3%#'4/' 6!768$$4-*9:8
*#+# $%%& ,'#
; 54!.;"1!<7 *#+# $%%' ,'#
46,285,200
-
46,285,200
-
46,285,200
45,822,348 45,822,348
46,285,200
45,822,348 45,822,348
34,489,316
-
590,630,400 (
98,033,400 -
12,973,684 47,463,000
-
35,000,000 625,630,400
35,000,000 133,033,400
; 54!.;"1.?@4: !"#$% *#+# $%%& *#+# $%%' ,'# ,'#
-./";<93=97>)?3@3/63'1#$%-3$%7 89:.3!" ; -%"#.1 31 <% "-89* &.=. 2557 ,>!"?):6@: '0*A64 2$! 3%#'4 /'7B 8"-" 625.63 C: 8"28# (-%"#.1 31 <%"-89* &.=. 2556 7B 8"-" 133.03 C:8"28#) ,DE",>!"?):6@:'0*$F'F %G"A642$!3%# ToyoThai-USA Corporation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oyo Thai New Energy Pte. Ltd. (TTNE) QR1>,DE"2$!3%#'4/'?):A642$!3%# Orient Bio-Fuels Company Limited QR1>,DE"6!768$$4-*9:8S/>6C+4*2$!3%# 7B8"-" 1 C:8",)$.'H )$%JK )$0/,#.'2,#48 32.96 C:8"28# NI'*./%L$8I/6,2.G'$:/'CF 1.50 L4/DM NI'*.6B8)"I748'OB8$F,>!"90"T8'?" 1 DM
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
215
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= %'
!4(54!5$ 9**>=>:5"254!%D0.5D0(<GH+;5$1 ( !") 54!.->D0(1=->;I1.;"1I8H5JH(K7=5L5"254!%D0.5D0(<GH+;5$1A474!M<".*!4:8,)6H6$;1DC
A348!$ -BA"C1A96<$1%D0 $% E$1<4*7 @&F& '(() #"$%&'()*" +,-. '/012345, )$)& 6789:;86"< :8=)6'-)>1#, #"$%&'()*"-)8#-.
; 54!.;"1!<7 4%
; 54!.;"1 .?@4: !"#$% 4%
46,955,000 508,000 47,463,000
133,033,400 653,496,580 (162,509,900) 1,610,320 625,630,400
?,:@(A!8&-. /.B. 2557 C:0D<E9$+:<CF78:@'&0,?(+6G+#*2;78,A, 3.68 )+8,'(:>#HI(:<J(:*"'E>#C'E!86<C 103.88 )+8,C8E ;86C:0D<E Toyo-Vietnam Corporation Limited (TVC) =)@'2*1"A<,E>1 7 /KDL8%2 /.B. 2557 C:0D<E9$+E78I<HH8(<66)C)C(,>5 6<C TVC ;78,A, 1.32 )+8,'(:>#H$"))8:MI(:<JN '/*1"'-O,68:F78:@(,>5%!86!"I:+8&?(+=6!C:0D<E ;78,A, 58.63 )+8,C8E
N <$1%D0 $% E$1<4*7 .2H481DC54!*H4 ! 5"254!%D0.5D0(<GH+;5$1 C:0D<E#!"#
.;"15JH(K7!:(:A$C1 ! 5"254!%D0.5D0(<GH+;5$1 C:0D<E#!"#
; 54!.;"1.?@4: !"#$% @&F& '(() @&F& '((* 4% 4%
@&F& '(() 4%
; 54!.;"1!<7 @&F& '((* 4%
-
-
32,735,157 32,735,157
34,949,449 34,949,449
-
-
314,575,400 314,575,400
-
.;"15JH(K7!:(:A$C12455"254!%D0.5D0(<GH+;5$1 P A<,E>1 31 Q<,A8%2 /.B. 2557 '&0,6G+#*2:@#@I<5,;86C:0D<E#!"#;78,A, 314.58 )+8,C8E '-O,'&0,6G+#*2;86C:0D<E Toyo Thai Power Holdings Pte. Ltd. (TTPHD) ;78,A, 7 )+8,'(:>#HI(:<JN (:*"'E>#C'E!8 231.79 )+8,C8E R$#2>"< :8$"6'C>5#:+"#)@ 2 !"-. 2>678(,$68:;!8#F78:@%*,'&0, +,L8#?, 1 '$*",'2*1"EA&S82 (:*";!8#F78:@%*,'&0, +,L8#?, 1 '$*",,<C;86A<,E>1C:0D<E=;+&?(+ TTPHD E:8C=)@'&0,6G+#*2;86C:0D<E Toyo-Thai Malaysia SDN.BHD (TTML) ;78,A, 2.5 )+8,'(:>#HI(:<JN (:*"'E>#C'E!8 82.79 )+8,C8E R$#92!2>68:%0$$"6'C>5# =)@2>678(,$68:;!8#F78:@%*,'&0, +,L8#?, 1 '$*",'2*1"EA&S82 (:*";!8#F78:@%*, '&0, +,L8#?, 1 '$*",,<C;86A<,E>1C:0D<E=;+&?(+ TTML E:8C
216
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= %'!
'1"21'2,886%%=<=72:/21'$D-*2D-";GH&92,.!( !") 21'*)=D-".<)=9I.*9:.2JH"K4/122:/21'$D-*2D-";GH&92,.A141'L;:*%'175(#3H3,9.DC!
A015',8)BA:C.A63;,.$D-!$%!E,.;1%4!?&F&!'(() #"$%&'()*" +,-. '/012345, )$)& 36$78,96:"; <6=):'-)>1#, #"$%&'()*"-)6#-.
9821'*9:.';4! 81$!
9821'*9:. *>?178':@,$! 81$!
-
363,742,070 (58,657,210) 9,490,540 314,575,400
! ?,<@(A! 6 &-. /.B. 2557 C<0 D; 7 E$+ <; C '&0 , :F+ #* 2 <@#@G;5 , 96:C<0 D; 7 Toyo Thai Power Holdings Pte. Ltd. (TTPHD) 9H 6 ,A, 8.85 )+6,'(<>#IG(<;JK (<*"'7>#C'7!6 281.88 )+6,C67 L$#2>"; <6$":'C>5#<+"#)@ 2 !"-. =)@'&0,:F+#*296:C<0D;7 Toyo-Thai Malaysia SDN.BHD (TTML) 9H6,A, 2.5 )+6,'(<>#IG(<;JK (<*"'7>#C'7!6 81.86 )+6,C67 L$#E2!2>:6<%0$$":'C>5# =)@A;,7>1 29 G0&(6%2 /.B. 2557 C<0D;7E$+7H6G;II6(;::)C)C(,>5:;CC<0D;7 Toyo Thai Power Holding Pte. Ltd (TTPHD) 9H6,A, 1.85 )+6, '(<>#I$"))6<MG(<;JK '/*1"'-N,:6<OH6<@(,>5%!6B4:D6%A62'-N,E-E$+?,L<&EPPQ6R!6,(0,7>1/2!6?(+=:!C<0D;7 9H6,A, 58.66 )+6,C67 ! M!;,.$D-!$%!E,.;1%4! ! 3&2*8DC"%H19/N1"/12*9:.2JH"K4! !!! !2:/21'$D-*2D-";GH&92,. C<0D;7#!"#
?&F&!'(()! 81$! ! ! -
9821'*9:.';4! ?&F&!'((*! 81$! ! ! -
310,634,312 310,634,312
-
9821'*9:.*>?178':@,$! ?&F&!'(()! ?&F&!'((*! 81$! 81$! ! ! ! ! 1,885,428 1,885,428 -
! *9:.',8=N;95.H1/12=J2%H1!14A,OO12N&A'H19! !!! !2:/21'$D-*2D-";GH&92,.! C<0D;7#!"#! :09:6<7>1':>1#A3+"&:;, - SF+R*"(8+, !
63,259,457 63,259,457
372,433,658 372,433,658
!
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
217
218
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
%$
ToyoThai-USA Corporation
ToyoThai Myanmar Corporation Co., Ltd.
*(5,&($0&%,&(C)D%& C3)11&%<$2<% ()* +'&,-./(0&1 234*(5,&($0&%!56!,(('
/+()9. '(5,&
()* +'&,-./(0&1 234*(5,&($0&%!56!,(('
*(5,&($0&%,&(C)D%& C3)11&%<$2<%
()* +'&,-./(0&1 234*(5,&($0&%!56!,(('
-!:.O%E9!5"2
C'-&
'& 3 E"#
=<#
*(5;)< =*>. 2%? ?.()3 .@% %.(8#" AB&,)$
Toyo-Thai Malaysia SDN.BHD
!"#$%&'
-!:.%F
Toyo-Vietnam Corporation Limited
N <$1%D0 $% E$1<4*7
.;"1>;%91G1 !"#$%(H+( ! A9%E"
!"#$%&'( )*+ ,--.%.%+/0120 3425% 34 5%+."67289:92;<<= ."67 8 : ;<<=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K
80
90
100
70
93.34
@&F& '(() !J+(>:
80
90
100
70
93.34
@&F& '((* !J+(>:
A$6AH<1*<47.-I1.2J4K+;
50,000 +("#7$.33&(8/+()9:
300,000 +("#7$.33&(8/+()9:
750,000 (51,5F'& 3 E"#
5,000,000 *&<
1,500,000 +("#7$.33&(8/+()9:
@&F& '(()
50,000 +("#7$.33&(8/+()9:
300,000 +("#7$.33&(8/+()9:
750,000 (51,5F'& 3 E"#
5,000,000 *&<
1,500,000 +("#7$.33&(8/+()9:
@&F& '((*
%91.!D(5/34!:=>J<
1,233,200
8,465,331
7,593,351
3,500,000
43,985,494
@&F& '(() 4%
1,233,200
8,465,331
7,593,351
3,500,000
43,985,494
@&F& '((* 4%
7L>*H4'47 $M/D'47<"ED!4*4%91
; 54!.;"1.?@4: !"#$%
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
219
"!
,)$I+@ '14,"4 7$8 -"J7-7")*;: HK01+6
TT Solar Company Limited
Toyo-Thai Power Holdings Pte. Ltd.
Toyo-Thai Power Myanmar Corporation Co., Ltd.
Toyo Thai Power Corporation Pte. Ltd.
K .%+/01 !" 2%+."34
78)+98/,+:+&$);%/<=>< ' ,/2) ( !")
!"#$%&'( )*+ ,--.%.%+/0123425% 34 5%+."67289:92;<<= ."67 8 : ;<<=
,)$10)620710)?+L70
4%@E7F7GE)1$H?4+%%07
B@;
B@;
4%@E7F7GE)1$H?4+%%07
#$%&'()*
A4$ BCCD0
)+,-./01!"#)20%345 ,)$10)62078$981))/ ,)$10)6207?4+%%07@63@7
#$%&'()*
?/!0
'$A7L/2,$?)C
'$A7/6
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K
40
-
57.55
59.67
57.55
5#6# $%%& $D><9A
40
99.85
70.18
71.67
70.18
5#6# $%%( $D><9A
%- =.+3."47'B+7CD"E>8
60,000,000 ,0@
,0@
69,500,000 -.):;<6"440)*#.)+=>
51,587,300 -.):;<6"440)*#.)+=>
21,250,000 -.):;<6"440)*#.)+=>
5#6# $%%&
60,000,000 ,0@
199,700 ,0@
57,000,000 -.):;<6"440)*#.)+=>
500,000 -.):;<6"440)*#.)+=>
21,250,000 -.):;<6"440)*#.)+=>
5#6# $%%(
/,+7$0<?F!"$AG9D.
24,000,000
-
1,238,015,000
83,793,909
-
5#6# $%%& &"/
24,000,000
199,700
1,238,015,000
734,273
-
5#6# $%%( &"/
4H93="I"4&%JF0I"4.)20$"3"/,+
8&?"$78)+7@5"A&$);%/
220
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
%$
@+$ ABBC5
:8>(-?. #$%&'()* #$%&'()*
Global New Energy Japan Co., Ltd.
Toyo Thai New Energy Pte. Ltd.
Toyo Thai Coal Power Pte. Ltd.
57.55
57.55
57.55
57.55
@&F& '(() !J+(>:
-
-
-
70.18
@&F& '((* !J+(>:
A$6AH<1*<47.-I1.2J4K+;
200,500,000 69. 1,000,000 67)89:;"++5)*#7)4<= 5,000,000 67)89:;"++5)*#7)4<=
3,000,000 67)89:;"++5)*#7)4<=
@&F& '(()
-
-
-
3,000,000 67)89:;"++5)*#7)4<=
@&F& '((*
%91.!D(5/34!:=>J<
1,410,586,285 1,410,586,285
-
-
-
-
@&F& '(() 4%
1,327,726,349 1,327,726,349
-
-
-
-
@&F& '((* 4%
7L>*H4'47 $M/D'47<"ED!4*4%91
; 54!.;"1.?@4: !"#$%
7F5967 - - J)$K4,F8"L5.52&EJ&-FJ)$K4, '1+J"+ .$E 6"M.6.")*98 2L514; NO>%6(P.J)$K4,9!"9,8>J)$K4,QG"7-H./.#4;#!E.)H"9+R 40 6.G>"%;HE9@SHJ)$75)D+R1))F15)I"%J)$K4,D+RJ)$K4,9!"9;4%1+!5E,8>F8"L5.52 4;#$./26(P.J-&&+1+-!F6;89E14.
6%$.+%,-./.J)$K4,9!"9 - #-,0$
)EF 741 &!56@G>"15);H"9&!5I"%6%$.+%,-.
+%,-./.0-)1$23+4%%5.
#$%&'()*
Toyo-Thai Solar Power Pte. Ltd.
+%,-./.0-)1$23+4%%5. ,;D,. +%,-./.0-)1$23+4%%5.
-!:.O%E9!5"2
-!:.%F
N <$1%D0 $% E$1<4*7
.;"1>;%91G1 !"#$%(H+( ! A9%E" ( !")
!"#$%&'( )*+ ,--.%.%+/0120 3425% 34 5%+."67289:92;<<= ."67 8 : ;<<=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= %$
*9:.=9$6.G.8':@,$"H&" ! A6$E: ( !") #$%&'()*+,-'(./,&.0,(.12,/,3%0451+!"+6$7$%890&:%$;<=>?@?5.,)A 9821'*9:.*>?178':@,$ ?&F& '(() ?&F& '((* 81$ 81$ A015',8)BA:C.A63;,.$D- $% E,.;1%4 %$:$ $735BC) @,'D - 621E0 CF$%;:!$<2@,/,3%0451+!"+ &'()*+,-'(.'%;&G1H".&.0,(.12, IF$<,!$+&.0,(.12, %$:$ $735BC)'($+'D - 621E0
1,327,726,349 83,059,636 (199,700) 1,410,586,285
452,198,755 851,527,594 24,000,000 1,327,726,349
21'*?:-4$6.G.8':@,$ +,-, +./0 1,234 5-/67/4 8,49,4/:0,6 8,&; <:=& &7J*"95,1)* 2 7082,$+, K.L. 2557 3%0451>?@1F$65BB$-'(.<,)A&'M,12,#533%0451 Toyo-Thai Power Myanmar Corporation Co., Ltd (“TTPMC”) NO*.&'M,3%0451+!"+ P?+3%0451+!"+?5.#(!$9 #(.1)*I;""#<2@,6$75BIF$,9, 510,873 <2@, NO*.7)7Q(:!$1)* %$>9@<2@,(; 100 &<%)+B?"(($%=6<%5RS /,%$:$<2@,(; 100 &<%)+B?"(($%=6<%5RS/<@#533%0451IF$,9, 25,544 <2@,&'M,IF$,9,&.0, 2.55 (@$,&<%)+B ?"(($%=6<%5RS -(;3%0451 Toyo-Thai Power Corporation Pte Ltd. (“TTPSG”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oyo Thai Power Holdings Pte. Ltd. (TTPHD) 7)7 0",275 0 I?1;&3)+,I5? 5A.3%0451 Toyo Thai New Energy Pte. Ltd. (TTNE) /,'%;&1L60.:P'%= &KJ*"(.12,/,E2%#0IK(5..$,1?-1, NO*.7)12,I?1;&3)+,IF$,9, 1,100,000 <2@, /,%$:$7Q(:!$1)* %$>9@<2@,(; 1 &<%)+B?"(($%=6<%5RS P?+3%0451 TTPHD 7)65?6!9, #$%8J"<2@,%@"+(; 100 3%0451 TTPHD CF$%;:!$<2@,& Z77Q(:!$-(@9 &7J*"95,1)* 15 2($:7 K.L. 2557 1)*'%;C27:Y;#%%7#$%3%0451 Toyo Thai Power Holdings Pte. Ltd. (TTPHD) 7)7 0",275 0 I?1;&3)+,I5? 5A.3%0451 Toyo Thai Coal Power Pte. Ltd. (TTCP) /,'%;&1L60.:P'%= &KJ*"(.12,/,E2%#0IK(5..$,8!$,<0, NO*. 7)12,I?1;&3)+,IF$,9, 5,000,000 <2@, /,%$:$7Q(:!$1)* %$>9@<2@,(; 1 &<%)+B?"((!$%=6<%5RS P?+3%0451 TTPHD 7)65?6!9, #$%8J"<2@,%@"+(; 100 3%0451 TTPHD CF$%;:!$<2@,& Z77Q(:!$-(@9
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
221
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= %$
.;"1>;%91G1 !"#$%(H+( ! A9%E" ( !") 54!23481H4(.;"1>;%91G1 !"#$%(H+( #$%&"'()*+& 31 $+),-$ ../. 2557 0123(*456#76,*8,9(::,7,;#<2)=<*>)?)0123(* *+*+ @A=,1B C8,D(5 D(00123(* 4*;A($$2* @"@ .,1B* "2)5(9 1+ C8,D(5 ?)1,-, 0.2 =6,)0,* E=F4561(0G8,1F#<2)C8,)')5(<D=!,'?)'()*+& 31 $+),-$ ../. 2557 54!.->D0(1=->;A$6AH<154!IJ+89K1G1 !"#$% *+,+ *-./ 0+123 4+56/789 0:2& ;:6& "**04<# #$%&"'()*+& 18 D>$H,.()IB ../. 2557 0123(* Toyo Thai Power Holdings Pte. Ltd. (TTPHD) AJ&<#KL)0123(*;!";456#.2&$*>)C5 *F#0+;)C8,)') 12.50 =6,)#M1+;:5"==,1B9M1(NO@5;7,;?M6D(0 TTP Partners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oyo-Thai Solar Power Pte Ltd. AJ&<#KL)0123(*;!";7"< Toyo-Thai Power Holdings Pte Ltd. 456 #76,A%Q"M>6)9,$(:0123(* Global New Energy Japan Co., Ltd (GNE Japan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
8,294,538 49,575,560 610,068 (150,129) 58,330,037 4,065,561 62,395,598 (8,294,538) 54,101,060
-!,-',$)2;$#D25C,DD,1A%Q"#<2)=<*>)?)I>1D2CP=2 4WWX,?)K1F#*/:+&K>Y) -!,-',$)2;$4$!$+D,1 (5C8,M)!,;E !CF*8,D,1 *59"0D,156";-!,#KL)K1FC8,*>DKZ
222
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= "'
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oyo-Thai Solar Power Pte Ltd. :;&65FG# 1234"$@0B@QB6 Toyo-Thai Power Holdings Pte Ltd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
./0*/1*23453226534*738*79:52;2<23=
13,119,102 14,807,940 1,688,838
!"#!$% &'(!%) *+,,-
223
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= %*
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
224
!"#!$% &'(!%) *+,,-
8,808,223 34,364,286 781,554,172 26,240 (56,285,200) (467,900,000) (4,408,913) 296,158,808 3>"5%8 5 14,807,940
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= %*
*9:.=9$6.G.8':@,$'H;4 ( !") 21'*)=D-".<)=9I&9*9:.=9$6.G.8':@,$'H;4$D*- 2:3IJC.G.'75;H19)BA.:C A63;,.$D- $% E,.;1%4 ?&F& '(() ( !") !"#$%&'()*$%+#+,)%+-.)/) 0",12- 3(!4 56%7! #8!#9:"; <=! 2> ?"2@+-&' ! #$%&"'()*+& 29 ,()'-.$ /.0. 2557 *+&12345$.63722$7-2829:(*$+$ 9")5$( 9#2%&"; 829:(* Toyo Thai Solar Power Pte. Ltd. <=&; #1>)829:(*?!"?@"; Toyo Thai Power Holdings Pte. Ltd. ABC#@C-<%D"E5C)F-$(G829:(* F?-$ H<I!- /-'#'"2J KL-7(B K-7829:(* Komipo Global Pte. Ltd. KL-)') 250,000 E5C) M)2-.-$NI.!-E5C)I3 120 8-* HB?.9B#1>)2C"?I3 10 @";*5)KB*3#8+?) #1>) KL-)')#;9) 916,243 #E2+?GB"II!-2JFE2(OP E2%"#*+?8#*!-7(8 30.20 IC-)8-* 2-?I3#"+?B@";7-2I;*5)QFB;ABCB(;)+D 81$ 2-.-*+& 7I;<%D"@-?#;9)I;*5) $NI.!- -$8(G4+F5*,9@";829:(* F?-$ H<I!- /-'#'"2J KL-7(B -$F!')ABC#F+?*+&ABC$7L-A2K-77-2 !"2";2-.-<%D"M)7-2<%D"F!')ABC#F+?2C"?I3 10
30,202,123 34,629,696 4,427,573
$NI.!- -$8(G4+@";F9)*2(/?JQI3E)+DF9)*+&ABC$-K-77-2<%D"#;9)I;*5)M)829:(* F?-$ H<I!- /-'#'"2J KL-7(B -$F!')ABC#F+? 2C"?I3 10 6 '()*+&7I5!$829:(*ABCI;*5)829:(* F?-$ H<I!- /-'#'"2J KL-7(B $+B(;)+D 81$ #;9)FBQI32-?7-2#*+?8#*!-#;9)FB IN7E)+D7-2.C-QI3IN7E)+D"%&) *+&B9) "-.-2QI3"51726J - F5*,9 F9)*2(/?J"%&) #;9)1237()RI;-) #;9)7NC?%$23?3?-'K-7FS-8()7-2#;9) E)+DF9)"%&) $NI.!- -$8(G4+@";F9)*2(/?JF5*,9 F(BF!')7-2I;*5) $NI.!- -$8(G4+@";F9)*2(/?JF5*,9*+&ABC2(8$-F5*,9
./0*/1*23453226534*738*79:52;2<23=
19,801,901 33,437,444 738,245,359 133,133 (46,285,200) (394,010,000) (5,025,675) 346,296,962 2C"?I3 10 34,629,696
!"#!$% &'(!%) *+,,-
225
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= %*
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
A348!$ -BA"C1A96<$1%D0 $% E$1<4*7 @&F& '(()
; 54!.;"1!<7 4%
; 54!.;"1.?@4: !"#$% 4%
67,060,623 43,321,225 26,245,264 205,346 136,832,458
62,499,900 62,499,900
'4G4 4?=(HI. 2%EQ IB4'LG!4M,2%<%='$>(&'!A? #!A%C=!:5B40'<%='$>(&'!A? O; !4:34554'CE;:G!4:=54'9:$% '4G4 4?=(HI.E;4*EQ
#!A%C=!:5B40'<%='$>(&'!A?GB4%AJ@1*<I2#!A%0129#.* 4?#(1#!A%54';:&,%'2"*;L 40 D"::=5B40'D41&,%D":='$>(& #*4? @6;!4)4A9A"'+ 3B45(1 #B4M'(=EQ#$8%#,1A(%&./ 31 -(%A4G? ).R. 2557 #!A%C=!:D":5;,!?='$>(&<%#$%&'()*+ M%.8#$% '4*012C;LG!4<I23!4*D":='$>(&'!A? ?.1(:%.8 '4*;L9".*1D":S4%L54'9:$%C;LO;E'L5"=54'D":='$>(&'!A? 4?#(1#!A%54'P7"M,2%D":5;,!?='$>(& ?.1(: !"0E%.8 A348!$ -BA"C1A96<$1%D0 $% E$1<4*7 @&F& '(() 2$6'$C;IJC1 G1-!:.%F ='$>(& #*4? @6;!4 )4A9A"'+ 3B45(1
0&*
A"1%!$@(, 81DCA"1 !4()6K 534)!"I46%91# @$1 4% @$1 4% @$1 4% @$1 4% 791,618 445,324 193,598
70,488
+$'!4!K+(>: I+;89K1%D0LM+ 40
A348!$ -BA"C1A96<$1%D0 $% E$1<4*7 @&F& '((+ 2$6'$C;IJC1 G1-!:.%F ='$>(& #*4? @6;!4 )4A9A"'+ 3B45(1
226
!"#!$% &'(!%) *+,,-
0&*
A"1%!$@(, 81DCA"1 !4()6K 534)!"I46%91# @$1 4% @$1 4% @$1 4% @$1 4% 836,464 560,655 140,804
35,233
+$'!4!K+(>: I+;89K1%D0LM+ 25
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= %(!
AG;.#3H*AD"I.2:/21''G;4%H1!! !"#$%& 31 '"#!()* +.,.2557 -./0*1234"$*%50!#67895%:;#-3<-(220!*)8( 2 =>0? @A&?678=-0 2#8':@,$!A"14!/D*&J.&D! K=G1'(!*&J.*.&'("D-!/012,3! 1234"$ 5:(* <%9BC#B% D@.0(2E 9BC#9#B2E:%& <F(-"7@A&?9GH#-3<-(220!*)8(IB?-./0*1234"$ D7:-3<-(220!*)8(7"?-.0(!G2J-B1'/2-3< 78(#“+."??(#$7=$#” @A&?*%$/#<7$J91%:#<F(#!# 160,000 >/8# ;#2()(*K.)0($%&L2(6!8>/8#.J 100 1($ D7:1234"$MNB>/8#9GH# 5"750!#28B:.J 50 IB?$/#<7$J91%:#9GH#<F(#!#9?3# 8 .8(#1($=.JOF(2J)0(>/8#9LC**K.)0(=.8! ! L#*+,-./!0,1 23-45!61789.:!;,7,/-<! ! 9*N&B!"#$%& 26 *%#()* +.,. 2557 1234"$ Toyo Thai New Energy Pte., Ltd. (TTNE) @A&?9GH#1234"$:0B:678.?#(*;#5"PP( @NQBI(:>/8#;#5"750!#28B:.J 49 IB?>/8#$"Q?>*7;#1234"$! Orient Bio-Fuels Company Limited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
32,963,000 57,628,115 24,665,115
*K.)0(L(*1"PO%IB?53#$2"+:E=.J>#%Q53#$%&678*(<(--(2@NQB9?3#.?$/#;# OBF L(*50!#67895%:28B:.J 49 .?$/#;# OBF *%7"?#%Q
!"#$%&-./0*1234"$678
!
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
227
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= %(
AG<1)6H.AD(I15"254!!G<7*H4 ( !") 4% #$%&'()*+,-./-,#01.2#0!-#$%&'( *3/4&15/-,67-)*+*3/4&15"89& '%&67-6$#4*8" 019(%& "-6-,)*+":;/,<= - ':0>% $-&,+4?!-$/!"',7-$ '%&0,@A.="89& #$%&/37.8B,+.+'@5& #C7-4&15/-,67#$%&,@2*!?$4&7-C-/*3/67#$%&/37.8B,+.+.-?C-/'D-2@&/-,#$%& 6!-EF7C!-.67-$C!-.)*+4&15'%&"89&
10,873,002 1,532,923 5,152,985 1,274,475,919 3,558,808 12,125,454 (17,888,223) (31,454,598) (9,057,094) (949,764,249) (181,946,529) 117,608,398
B3*6!- -B2@GF1H"$'%&0,@A.=':0>% '@('!?&/-,*$0:& B3*6!- -B2@GF1H"$'%&0,@A.=':0>%019I(7,@2B-':0>%
,7".*+ 49 57,628,115
'%&0,@A.=':0>%019I(7C-//-,J85"#$%&*$0:&E& OBF 019)'($H7-$ 7&#;K&,-6- -B2@GF1 < ?@&019J85"#$%&*$0:& /*:!B2,%L@0".3!,+4?!-$ /-,6M-&?<4-B3*6!-.: %>,,BH"$'%&0,@A.=)*+4&15'%&019B1 @? &)*+IB!B1 @? & JN9$C+;,@2;,:$'%&0,@A.=)*+4&15'%&E47#;K&B3*6!.: %>,,B O* !-$,+4?!-$,-6- -B2@GF1':0>%/@2B3*6!-.: %>,,B':0>%C+&M-I;;,@2;,:$/@26!-6?-B&%.B /-,#;*19.&);*$E&'!?&I(7#'1.E&/%C/-,,!?B67-'-B-,D?%#6,-+4=I(7(@$&15
A348!$ -BA"C1A96<$1%D0 $% E$1<4*7 @&F& '(() ,-6- -B2@GF1 7&;P '!?&I(7#'1.E&/%C/-,,!?B67-#A%9BHN5& '!?&)2!$H-(0:&E&/%C/-,,!?B67,-6- -B2@GF1;*-.;P
228
!"#!$% &'(!%) *+,,-
; 54!.;"1!<7 4%
; 54!.;"1.?@4: !"#$% 4%
7,796,746 32,963,000 (22,231,644) 18,528,102
-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= %(
AG<1)6H.AD(I15"254!!G<7*H4 ( !") !"#$%&'()*$%+,-+#+.)%+/0)1) .2 !""34567!/&'# 8. ,9:)1)";<43!+$=>.:)>084?)/&' !" @?)4!65 A#B# $%%& ( !") #!$%&'!()"(*+,!-'./0123%#/%2.1456 7%89#/% .:5;<=&+>?!:3@=A!:5)"(*/A*:..!$-?=: -8<1(%89 .:5+>B"85<)"(C:%>*:.B(/%&+>D+E.>*"'*:.)"(*/A*:..!$-?=: :-#1<#!$%*:.FG"7,=%)"(*+,!-'./012 -8<1( !";E%89 >C!<"?D$=>.:)>084?)/&' !" @?)4!65 A#B# $%%& 2?8E?:+,9:) 1)$";#/B './012 #5:- A8B"H%"8 IJ+!:.6 B"H%B%".658K AL:*1< './012 Orient Bio-Fuels Company Limited
;25 B$85<%:-
>.)/"?A(F A?)D!/
<)&:>.) "!(G87 A?)D!/ A?)D!/
46,599 25,947 2,274,515 2,155,694
5,557 6,358
C!G"',!8/0)( A?)D!/
-?E"!"7-(%; ,-+<07)/&'HI-
719 (97,508)
50 49
>C!<"?D$=>.:)>084?)/&' !" @?)4!65 A#B# $%%) 2?8E?:+,9:) 1)$";#/B './012 #5:- A8B"H%"8 IJ+!:.6 B"H%B%".658K AL:*1<
")
;25
>.)/"?A(F <)&:>.) "!(G87 A?)D!/ A?)D!/ A?)D!/
15,843
249
-
C!G"',!8/0)( A?)D!/
-?E"!"7-(%; ,-+<07)/&'HI-
(407)
50
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
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
229
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= %*
.;"1>;%91%$0<)- ( !") +,-./01 2.34.3560./ #$%&'()*+,%-.,(/-0-1/2-#/$%)3%(4%5",#$%&'( Skyonic Corporation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eries C .,G'-(*8 7 )%U/-A<- V.>. 2556 @A$+=.*8<-R=.,0-+,%-.,(/-('8GB=3A)A$UG%+E$A;1KB:2:',-*N ; 54!.;"1!<7 =>:; 54!.;"1 .?@4: !"#$% 4% A348!$ -BA"C1A96<$1%D0 $% E$1<4*7 @&F& '(() $AEA A)#'JC* 2-=X Q. !A,9A@@A$R=.,E!A,#(A,@A$+,%$AEA A)#'JC*=.A<=X
230
!"#!$% &'(!%) *+,,-
673,439,990 673,439,990
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= %)
%D06"1 +4*4!=>:+9-5!G, ! A9%E" ; 54!.;"1!<7 .*!H0+;'5='I; '"6'$C;=>: +9-5!G, 4%
%D06"1 4% G <$1%D0 % 75!4*7 @&F& '((* !"# !$%&'()!" !"!#$% &'( ")!*+,-./ !"!+0+/ !"!1!/2'345 - +$#67 " *+,'!"# -*./0*$1 """2"0345"#$"6"02,7("8%9%"&''(" !"# !$%&'()!" !"!1!/2'34518%9: - +$#67 (! ;,<.*=7-/>?<% (! @A!&%)!B+7%# '=BC - +$#67 (! D.%+7%# '=BC*>8!(..() ")!*+,-./ !"! (&/!B*&1$E >8. 32) FG1)!H@!(.'1 !IG(*9G5-B% !"!1!/2'3459G!B9: - +$#67 " :"2"0345"#$"6"02,7("8%9%"&''(" !"# !$%&'()!" !"!#$% &'( ")!*+,-./ !"!+0+/ !"!1!/2'345 - +$#67
6,750,000 6,750,000 "
(41@481: 4%
&!;)JJK4 4%
103,518,803 29,931,596 (63,325,722) (13,639,132) 40,193,081 16,292,464 " "
-
A"1%!$@(, !:8<I4;'"6'$C; 4%
!<7 4%
304,207,649 (76,964,854) 227,242,795
"
164,007,250 164,007,250 "
"
6,750,000 6,750,000
40,193,081 41,430,779 (1,501,838) 12,649,963 (17,687,089) (144,616) 74,940,280 " "
16,292,464 5,721,526 (184,380) (5,262,481) 932,836 17,499,965 " "
185,247,109 (3,341,985) 181,905,124 " "
164,007,250 34,958,884 (197,897,072) 1,069,062 " "
227,242,795 82,111,189 (1,686,218) (26,291,555) 788,220 282,164,431 " "
6,750,000 6,750,000
145,554,281 (70,614,001) 74,940,280
36,012,053 (18,512,088) 17,499,965
185,247,109 (3,341,985) 181,905,124
1,069,062 1,069,062
374,632,505 (92,468,074) 282,164,431
" "
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
231
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= %)
%D06"1 +4*4!=>:+9-5!G, ! A9%E" ( !") ; 54!.;"1!<7
%D06"1 4%
.*!H0+;'5='I; '"6'$C;=>: +9-5!G, 4%
(41@481: 4%
A348!$ -BA"C1A96 <$1%D0 $% E$1<4*7 @&F& '(() #$%$ $&'()*+ ,-./ - 01234 5$#678"9:4;&<=85$#>?$@-!$A04-2#(:AB-01234 5$# (C04-2#(:AB - 01234 5$#D"-04-2#(:AB9<,$(""5) %!$907;"&#$%$ (@&$A9@ 1E <," 32) FG !$H>$5"( #$IG59.G+;A#$%$ $&'()*+.G$A./ - 01234
6,750,000 12,952,933 (1,894,260) 17,808,673
74,940,280 18,235,199 (1) (417,598) 1,772,120 (22,968,825) 12,760 71,573,935
G <$1%D0 $% E$1<4*7 @&F& '(() #$%$21@(5 %!$907;"&#$%$0J0& #$%$ $&'()*+ - 01234
17,808,673 17,808,673
160,421,250 (88,847,315) 71,573,935
&!;)JJK4 4%
A"1%!$@(, !:8<I4;'"6'$C; 4%
!<7 4%
17,499,965 1,102,709 (5,516,101) (37,664) 13,048,909
181,905,124 (10,337,499) 171,567,625
1,069,062 23,716,378 (5,577,392) (1,772,120) (3,117,158) 14,318,770
282,164,431 56,007,219 (1) (5,994,990) (38,822,425) (5,036,322) 288,317,912
36,887,862 (23,838,953) 13,048,909
185,247,110 (13,679,485) 171,567,625
14,318,770 14,318,770
414,683,665 (126,365,753) 288,317,912
D#HKLLM$&NG%!$ 185 G,$-'$2 9.O-D#HKLLM$<-$C 1.2 9&55JP( B (8H"AN!Q->(H@P(C:#J-%#R#+"A13A$ IF-5$#9C4-9%#7;"HFG4 KLLM$<=8-"AN!5('.#4&$S-8?$90+A2+;FG4 KC,>$5D#HH$-FG4 9"2$-"G6=;H-?$&$9.O-9*78"9:G4H2+;Q*,FG4 KLLM$
232
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= %)
%D06"1 +4*4!=>:+9-5!G, ! A9%E" ( !") ; 54!.;"1.?@4: !"#$% .*!H0+;'5='I; '"6'$C;=>: %D06"1 +9-5!G, 4% 4% <$1%D0 % 75!4*7 @&F& '((* #$%$&'( )*+ %!$,-./"0#$%$-1-0
(41@481: 4%
A"1%!$@(, !:8<I4; '"6'$C; 4%
!<7 4%
6,750,000 -
94,397,319 (58,641,893)
25,588,237 (11,882,824)
5,722,479 -
132,458,035 (70,524,717)
6,750,000
35,755,426
13,705,413
5,722,479
61,933,318
6,750,000 -
35,755,426 30,597,640 (244,672) 12,649,964 (15,385,145) 6,493
13,705,413 5,721,526 (115,736) (4,644,092) 38,411
5,722,479 7,996,545 (12,649,964) -
61,933,318 44,315,711 (360,408) (20,029,237) 44,904
!"!#!$%&'()1H!B12 - *+,-.
6,750,000
63,379,706
14,705,522
1,069,060
85,904,288
.%+/01 !" 2%+."34 5#6# $%%& !"!,+0 @&3 "A!8*5:7$ !"!*K*$
6,750,000 -
128,267,823 (64,888,117)
31,092,691 (16,387,169)
1,069,060 -
167,179,574 (81,275,286)
6,750,000
63,379,706
14,705,522
1,069,060
85,904,288
6,750,000 -
63,379,706 14,686,856 (1,240) (1) 1,772,120 (18,857,061) 228
14,705,522 (4,723,093) 1,347
1,069,060 703,060 (1,772,120) -
85,904,288 15,389,916 (1,240) (1) (23,580,154) 1,575
!"!#!$%&'()1H!B12 - *+,-.
6,750,000
60,980,608
9,983,776
-
77,714,384
7 .%+/01 !" 2%+."34 5#6# $%%' !"!,+0 @&3 "A!8*5:7$ !"!*K*$
6,750,000 -
140,934,310 (79,953,702)
31,098,025 (21,114,249)
-
178,782,335 (101,067,951)
6,750,000
60,980,608
9,983,776
-
77,714,384
!"!#!$%&'() - *+,-. "! #$%&'( )*+ ,-.%+/01 !" 2%+."34 5#6# $%%& !"!#!$%&'()#/012 - *+,-. 3! 456789.:$;<60 3! #&=>?!@0A!B773C1 - *+,-. D70*.0, &9BE8;/! (773) "A!8*5:7$ !"! (@$!B8@#+F ;/7 32) GH#A!I>!33! J1HI"A!I%3! 8I.0
!"!#!$%&'() - *+,-. "! #$%&'( )*+ ,-.%+/01 !" 2%+."34 5#6# $%%' !"!#!$%&'()#/012 - *+,-. 3! 456789.:$;<60 3! #&=*.0, &9BE - *+,-. 3! #&=>?!@0A!B773C1 - *+,-. D70*.0, &9BE8;/! (773) "A!8*5:7$ !"! (@$!B8@#+F ;/7 32) GH#A!I>!33! J1HI"A!I%3! 8I.0
!"!#!$%&'() - *+,-.
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
233
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= %*
A"1%!$@(,)7G7D'$<'1 ! A9%E" ; 54!.;"1!<7
234
&-!=5!7 *+7@"<.'+!, 4%
*G4A74/"5 A1475+>,H 4%
A"1%!$@(, !:8<G4;'"6'$C; 4%
!<7 4%
<$1%D0 % 75!4*7 @&F& '((+ ! -!$ -!9;I87G !"!#$% &'( ")!*'+,-!&%)!./0/1 !"!*!12'345 - /$#67
39,064,370 (18,137,636) 20,926,734
2,082,000 (1,313,720) 768,280
1,002,608 1,002,608
42,148,978 (19,451,356) 22,697,622
A348!$ -BA"C1A96<$1%D0 $% E$1<4*7 @&F& '((+ ! -!$ -!9;I87G !"!*!12'345*8%9: - /$#67 (! ;<=>?@7A1BC=% D>%/7%# '@.E?B8! (>>() ")!*'+,-!&%)!. (&1!.?&*$F B8> 32) GH*)!I,!(>'* !JH(?9H5A.% !"!*!12'3459H!.9: - /$#67
20,926,734 1,672,957 1,326,440 (3,874,977) 7,729 20,058,883
768,280 (130,000) 638,280
1,002,608 323,832 (1,326,440) -
22,697,622 1,996,789 (4,004,977) 7,729 20,697,163
<$1%D0 $% E$1<4*7 @&F& '((+ ! -!$ -!9;I87G !"!#$% &'( ")!*'+,-!&%)!./0/1 !"!*!12'345 - /$#67
42,256,619 (22,197,736) 20,058,883
2,082,000 (1,443,720) 638,280
-
44,338,619 (23,641,456) 20,697,163
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= %*
A"1%!$@(,)7G7D'$<'1 ! A9%E" ( !") !"#$% &'$()
38#9$:!+;3&<'3=>(:'7?@ !" A:'(#-) /#B# $%%& !"!#!$%&'()#*+,- - ./012 3! 4567892:$;<6+ 3! #&=.2+0 &9>? - ./012 "@!#&=AB!C+@!> (C$!>8C#/D ;*7 32) EF#@!GA!37&# !HF38,F):>+ !"!#!$%&'(),F!>,- - ./012 (:'7?@ !" A:'(#-) /#B# $%%& !"!0/+ C&3 "@!#&=AB!C+@!>.I.$ !"!#!$%&'() - ./012
./0*/1*23453226534*738*79:52;2<23=
*+$,"$) -.)/&(%0.$1 !#7
-2#3)#4&" 3'#)".516 !#7
$() !#7
20,058,883 6,033,369 (2) (4,284,208) 48,999 21,857,041
638,280 2,037,864 (333,227) 2,342,917
20,697,163 8,071,233 (2) (4,617,435) 48,999 24,199,958
45,637,481 (23,780,440) 21,857,041
4,119,865 (1,776,948) 2,342,917
49,757,346 (25,557,388) 24,199,958
!"#!$% &'(!%) *+,,-
235
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= %*
A"1%!$@(,)7G7D'$<'1 ! A9%E" ( !")
<$1%D0 % 75!4*7 @&F& '((+ #$%$&'( )*+ %!$ *,-.$)(!$/0102 #$%$ $23*456 - 0'&78 A348!$ -BA"C1A96<$1%D0 $% E$1<4*7 @&F& '((+ #$%$ $23*456 9(:; - 0'&78 +$#<=>"?@8A2BC>( D"(08(&#*@/E?B9$ (""+) %!$ *,-.$)(!$/ ()2$/?) 'F B9" 32) #$%$ $23*456:G$/:; – 0'&78 <$1%D0 $% E$1<4*7 @&F& '((+ #$%$&'( )*+ %!$ *,-.$)(!$/0102 #$%$ $23*456 - 0'&78 A348!$ -BA"C1A96<$1%D0 $% E$1<4*7 @&F& '(() #$%$ $23*456 9(:; - 0'&78 +$#<=>"?@8A2BC>( +$#-.$)(!$/""+H: - 0'&78 %!$ *,-.$)(!$/ ()2$/?) 'F B9" 32) #$%$ $23*456:G$/:; - 0'&78 <$1%D0 $% E$1<4*7 @&F& '(() #$%$&'( )*+ %!$ *,-.$)(!$/0102 #$%$ $23*456 - 0'&78
236
!"#!$% &'(!%) *+,,-
; 54!.;"1.?@4: !"#$% A"1%!$@(, !:8<G4;'"6'$C; !<7 4% 4%
&-!=5!7 *+7@"<.'+!, 4%
*G4A74/"5 A1475+>,H 4%
36,404,492 (15,750,707) 20,653,785
2,082,000 (1,313,720) 768,280
1,002,608 1,002,608
39,489,100 (17,064,427) 22,424,673
20,653,785 1,418,417 1,326,440 (3,617,671) 19,780,971
768,280 (130,000) 638,280
1,002,608 323,832 (1,326,440) -
22,424,673 1,742,249 (3,747,671) 20,419,251
39,149,349 (19,368,378) 19,780,971
2,082,000 (1,443,720) 638,280
-
41,231,349 (20,812,098) 20,419,251
19,780,971 4,960,695 (2) (3,872,833) 20,868,831
638,280 2,037,865 (333,227) 2,342,918
-
20,419,251 6,998,560 (2) (4,206,060) 23,211,749
43,977,744 (23,108,913) 20,868,831
4,119,865 (1,776,947) 2,342,918
-
48,097,609 (24,885,860) 23,211,749
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= %*
.;"15GH(I7245AJ4 $154!.;"1
"! #$%&'()#*"+,# !"#$%&'()*+'+,-.#/0$,102-#$0* !"# - !"#$%&'()*+'+,-.#3#*%45-67,-88039& !"# - 5-67:;$ !"# - /&0<#=.>*-,5?*=@=> *7)
$% E$1<4*7 @&F& '(() 4%
; 54!.;"1!<7 $% E$1<4*7 @&F& '((+ 4%
1,548,349,057 1,497,688,600 92,957,910 3,138,995,567
933,670,673 933,670,673
; 54!.;"1.?@4: !"#$% $% E$1<4*7 $% E$1<4*7 @&F& '(() @&F& '((+ 4% 4%
1,548,349,000 1,497,688,600 92,957,910 3,138,995,510
933,670,673 933,670,673
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
"!#$%&'()*+,(,(- .-%/0-12$%-+"!#$ /345#
20.1
!"#$%&'()*+'+'07/0$,102-#$0* !"#4*+$I2N&7' !"#$%&'()N-!5MIL4#=. !1%-+"!#$+ * 6#7# !$$% 6#7# !$$& 1-4 1-4 "!#$%&'()*+,(,(- .-%/0-12$%-+"!#$ /345# !"#$%&'(),$K; !"# <*='8,<*-RS <-$ DM0C**) #=')3#$0*/-N<0 !"#$%&*I5-N2-89= ,K>C" *7) !"#$%&'()*+'+'07/0$,102-#$0* !"# ,K>C"
./0*/1*23453226534*738*79:52;2<23=
3,296,300,000 (41,249,571) 3,255,050,429
!"#!$% &'(!%) *+,,-
-
237
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= '*
.;"15GH(I7!:(:(4<245AJ4 $154!.;"1 A9%E" ( !")
20.1 #$%&'()*+,-.*.*/01/'23/45&'/-#$%&6-.'"47)0*#$%&'()*+,75$ !"86&9: ( !") !"#$%&'()*+'+',-.,$/0,12#$,* !"#34!1*"526'74' #,+;"05&<9; 28 =>?@/A, =.B. 2557 4-%?5< Toyo-Thai Power Myanmar Co.,Ltd (TTPMC) CD;$#6E&4-%?5<*!"*87)#F)/<G/25HH/#$%&'() (Facility Agreement) '54I&/A/-#=+;"'/-2!$""'JK.&G/#F)/JL!$6-.#<B8<* (EXIM Bank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oyo-Thai Power Corporation Pte. Ltd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
238
!"#!$% &'(!%) *+,,-
3,251,310,000 (42,765,627) 1,516,056 44,990,000 3,255,050,429
-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= $'
78)+9:;<=4$><><".?"9 @"&%+9"$78)+ ,/2) ( !")
20.3 #$%$&'()*)#+#,*-)./01"2&23/*45%67#$%$%)'78092 !":;/8< 8&9"$78)+$.4 5#6# $%%& 5#6# $%%( &"/ &"/ +#,*-)./0=)%>/ 1 ;? +#,*-)./0&*3/*'!) 1 ;?@ !:7!&*3/ 5 ;? +#,*-)./0&*3/*'!) 5 ;? #'7&23/*45%67#$%$%)' ABCD3 $"
1,448,003,003 1,807,047,426 3,255,050,429
-
#,;+9:; ) ,/2) .B5/*45&;E/.B5/*45A*B(&23/,)C092 !":;/8<
C .%+/01
#,;+9:; .B5/*45:7!05"%A3CD3 :7!78.(9*;#$*9/ .9* +!)D##7&/8%7>/*)#F90.)&23/*45#" 90,9GH8 &*3/*'!)./IJ2;? .B5/*45:7!05"%A3CD3 :7!78.(9*;#$*9/ - ABCD3
./0*/1*23453226534*738*79:52;2<23=
8&9"$78)+$.4 !" 2%+."34 !" 2%+."34 5#6# $%%& 5#6# $%%( &"/ &"/
1,000,000,000 (2,612,162) 997,387,838
8&9"$78)+7A5">&$)B%/ !" 2%+."34 !" 2%+."34 5#6# $%%& 5#6# $%%( &"/ &"/
- 1,000,000,000
-
-
-
(2,612,162) 997,387,838
!"#!$% &'(!%) *+,,-
239
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= '%
89G15HG ! A9%E" ( !") #$%&'()*+,-'(./".012,#324)%$+(5&")+667.,)8
A348!$ -BA"C1A96<$1%D0 $% E$1<4*7 %$9$ $4:7;<) 2,'= - >1?@A BC$0,!$+012,#32 9!$@%%4&,)+4D,#$%B760$012,#32 76BC$0,!$+9!$@%%4&,)+4D,#$%B760$012,#32 %$9$ $4:7;<)'($+'= - >1?@A
; 54!.;"1!<7 @&F& '(() @&F& '((* 4% 4% 1,000,000,000 (3,274,000) 661,838 997,387,838
; 54!.;"1.?@4: !"#$% @&F& '(() @&F& '((* 4% 4%
- 1,000,000,000 (3,274,000) 661,838 - 997,387,838
-
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
I <$1%D0
- 9%:#C$0,6N4!&#A, 1 '= 012,#32N4!62"+>A?@AN4!4)0(7#'%5#7, - 9%:#C$0,6&#A,#G!$ 1 '=- !N4!&#A, 5 '= 012,#32N4!62"+>A?@AN4!4)0(7#'%5#7, %G4012,#32N4!62"+>A?@AN4!4)0(7#'%5#7,
240
!"#!$% &'(!%) *+,,-
; 54!.;"1!<7 $% E$1<4*7 $% E$1<4*7 @&F& '(() @&F& '((* 4% 4%
; 54!.;"1.?@4: !"#$% $% E$1<4*7 $% E$1<4*7 @&F& '(() @&F& '((* 4% 4%
-
-
-
-
997,387,838 997,387,838
-
997,387,838 997,387,838
-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= ''
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inistry of Environment or “MOE”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
!"
!"#$%&'()*+,-.!"/01$23*$4%05%67, 8#9! GA.&69",:015F'!%VP':2@(,!;/L+F'$"09)*+,-!+./%0!123 31 40!%'56 7.8. 2557 >A# 7.8. 2556 E'GGF';"+.14,1'(P':2HI3(;6&"%6+&%! ;/L@+2D !G,EG'""&%65L' </D62=0R"'/0(!2-
)"#@18;1D )"#@18+,(5<)"C )"#@18TYA,))Y!+C )"#@18G'R'"C )"#@18M23).W! )"#@18@%2D/!'6 )"#@186'@A@H2D )"#@18+$"0Q=@6",G' +'4'"V#"0Q>$&(+$P'776&'
./0*/1*23453226534*738*79:52;2<23=
&#:# !$$% "L=DA# 20 "L=DA# 17 "L=DA# 30 "L=DA# 10 "L=DA# 25.5 "L=DA# 25 "L=DA# 25 "L=DA# 34 "L=DA# 25
&#:# !$$& "L=DA# 20 "L=DA# 17 "L=DA# 30 "L=DA# 10 "L=DA# 25 "L=DA# 25 "L=DA# 34 "L=DA# 25
!"#!$% &'(!%) *+,,-
241
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= '$
A"1%!$@(,G4#D.;"1)6H!+54!'$6 $I/D A9%E" ( !") ; 54!.;"1!<7 -!$ -!9;J87K @&F& '(() @&F& '((* 4% 4% #$%&'()*+,-./01$%234'"5-' (36(78/ #$%&'()*+,-./01$%234'"5-' (36(78/&/9:;<84 =';>*8%+,-*<% 12 03?"% #$%&'()*+,-./01$%234'"5-' (36(78/&/9:;<84 =';>*8%+05$%5@!- 12 03?"% '@A#$%&'()*+,-./01$%234'" (36(78/ B%/C#$%,-./01$%234'"5-' (36(78/ B%/C#$%,-./01$%234'"5-' (36(78/&/9:;<84 =';>*8%+,-*<% 12 03?"% B%/C,-./01$%234'"5-' (36(78/&/9:;<84 =';>*8%+05$%5@!- 12 03?"% '@AB%/C#$%,-./01$%234'" (36(78/
242
!"#!$% &'(!%) *+,,-
; 54!.;"1.?@4: !"#$% @&F& '(() 4%
@&F& '((* 4%
-
-
-
-
106,367,410 106,367,410
125,612,458 125,612,458
21,901,958 21,901,958
19,605,359 19,605,359
(32,322)
-
(32,322)
-
(91,736,418) (91,768,740)
(106,289,318) (106,289,318)
(32,322)
-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= '$
A"1%!$@(,G4#D.;"1)6H!+54!'$6 $I/D A9%E" ( !") #$%&$#'()*+",-./0"12$34'15,-67#"&$# 8698:;4 ; 54!.;"1!<7
A"1%!$@(,G4#D.;"1)6H!+54!'$6 $I/D < !"#$% 1 &'()*& +.,. 2557 (-(!.-(/012&3) 4+5%&(67)1"'8)9(2(:;<)7#/" =6>3)0?)'')(@-60*3)0.')(405" A !"#$% 31 B!" )*& +.,.2557 A !"#$% 1 &'()*& +.,. 2556 (-(!.-(/012&3) 4+5%&(67)1"'8)9(2(:;<)7#/" =6>3)0?)'')(@-60*3)0.')(405" A !"#$% 31 B!" )*& +.,.2556 (-(!.-(/012&3)
2'67*&'8#96% &':;5$4"#$<,;!,=>6 A !"#$% 1 &'()*& +.,.2557 (-(!.-(/012&3) 4+5%&(67)1"'8)9(2(:;<)7#/" =6>3)0?)'')(@-60*3)0.')(405" A !"#$% 31 B!" )*& +.,.2557 2'67*&'8#96% &':;5$4"#$<,;!,=>6 A !"#$% 1 &'()*& +.,.2556 (-(!.-(/012&3) 4+5%&(67)1"'8)9(2(:;<)7#/" A !"#$% 31 B!" )*& +.,.2556 (-(!.-(/012&3)
./0*/1*23453226534*738*79:52;2<23=
G4!:JK5@$1J>-!:&(/1, @1$5;41 4%
A"1%!$@(,L4<! 4%
!<7 4%
20,236,603 2,250,253 22,486,856
105,375,855 (8,606,384) (12,888,917) 83,880,554
125,612,458 (6,356,131) (12,888,917) 106,367,410
16,955,468 3,281,135 20,236,603
25,873,184 68,954,007 10,548,664 105,375,855
42,828,652 72,235,142 10,548,664 125,612,458
*&'+$,-./0#($ !#+
#'$12(3# "34*$5# !#+
!"#$% &'$() $() !#+
103,906,871 (22,169,548) 81,737,323
2,382,447 7,616,648 32,322 10,031,417
106,289,318 (14,552,900) 32,322 91,768,740
24,025,492 79,881,379 103,906,871
2,382,447 2,382,447
24,025,492 82,263,826 106,289,318
!"#!$% &'(!%) *+,,-
243
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= '$
A"1%!$@(,G4#D.;"1)6H!+54!'$6 $I/D A9%E" ( !") #$%&$#'()*+",-./0"123,4#56%78$9:'13,-;<#"&$# 5;=5>?: ; 54!.;"1.?@4:5"254!
A"1%!$@(,G4#D.;"1)6H!+54!'$6 $I/D @ /5,4:+ 1 A&#$(A 6.B.2557 '63+A();)C,&D$-#.#*"0$;4E, @ /5,4:+ 31 F5,/$(A 6.B.2557 @ /5,4:+ 1 A&#$(A 6.B.2556 '63+A();)C,&D$-#.#*"0$;4E, @ /5,4:+ 31 F5,/$(A 6.B.2556
G4!:JK5@$1 J>-!:&(/1,@1$5;41 4%
!<7 4%
19,605,359 2,296,599 21,901,958
19,605,359 2,296,599 21,901,958
16,955,468 2,649,891 19,605,359
16,955,468 2,649,891 19,605,359 ; 54!.;"1.?@4:5"254!
81DCA"1G4#D.;"1)6H!+54!'$6 $I/D @ /5,4:+ 1 A&#$(A 6.B.2557 '63+A();)C,&D$-#.#*"0$;4E, G) !$1H$&&$#IJ)1(!$1=&$#'13, @ /5,4:+ 31 F5,/$(A 6.B.2557 @ /5,4:+ 1 A&#$(A 6.B.2556 '63+A();)C,&D$-#.#*"0$;4E, @ /5,4:+ 31 F5,/$(A 6.B.2556
244
!"#!$% &'(!%) *+,,-
L46%91245+$'!4 =>5.->D0(1 4%
!<7 4%
32,322 32,322
32,322 32,322
-
-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= '*
G4!:HI5@$1H>-!:&(/1,@1$5;41 ; 54!.;"1!<7
!"#$ %&'()& *&+, -' ./&0123/&4567+(841'9:';* &'
@&F& '(() 4%
@&F& '((+ 4%
@&F& '(() 4%
@&F& '((+ 4%
112,168,415 12,817,214
100,573,621 12,645,695
109,509,788 12,548,895
98,048,645 12,403,396
; 54!.;"1!<7
<&+(5=*:;'567+(841'9:';* &')>?@A *B&C'$ 1B&+(<&40'C'A? 7D <&+(5=*:;'567+(841'9:';* &')>?@A *B&C'$ 1B&+(,*-'*E/&C'A? 7D
; 54!.;"1.?@4: !"#$%
; 54!.;"1.?@4: !"#$%
@&F& '(() 4%
@&F& '((+ 4%
@&F& '(() 4%
@&F& '((+ 4%
-
-
-
-
112,168,415 112,168,415
100,573,621 100,573,621
109,509,788 109,509,788
98,048,645 98,048,645
!"#! $%&'()*+,-.)/0! 123#45*2&6 17"8*9:;(#<!,*=+-> 1,-?!/6@A;=5/*;B !"#$% &'$()
")="#A!C>*6@ C>*:D*E F#! 6GHHDE5* C>*:D*=)#$E;B" (#<!+ )/.!=:D*C!A,&5#%IFCJ!KC 96 1#5*05" 2&6 17"8*9:;(H?!" ")=%/$,&')6&!"6@
./0*/1*23453226534*738*79:52;2<23=
!"#$% &'%*+#,!$&-./
+!0! "##$ !#/
+!0! "##% !#/
+!0! "##$ !#/
+!0! "##% !#/
100,573,621 5,172,518 4,725,536 2,919,160 (1,222,420) 112,168,415
87,927,926 9,480,561 4,490,081 (1,324,947) 100,573,621
98,048,645 4,904,199 4,725,536 2,919,160 (1,087,752) 109,509,788
85,645,249 9,230,912 4,490,081 (1,317,597) 98,048,645
!"#!$% &'(!%) *+,,-
245
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= '*
G4!:HI5@$1H>-!:&(/1,@1$5;41 ( !") #!$%&'(!$)*+,-./0*123+435'%6-478$93.3:";$0*<6=8$.3+4> !?@3$)7$30+-61, ; 54!.;"1!<7
'6*<643A7$3BC((<4+6 '6*<60"7D41,) (78$93)/;$0*<6 $/.?+7#EA F$= 3GB3@7+6H+) 3I/ (>=0-DBJ6=!I6.6K2-;"-#!$%&'(!$)%67$343A.$3)
; 54!.;"1.?@4: !"#$%
@&F& '(() 4%
@&F& '((+ 4%
@&F& '(() 4%
@&F& '((+ 4%
5,172,518 4,725,536 2,919,160 12,817,214
9,480,561 4,490,081 (1,324,947) 12,645,695
4,904,199 4,725,536 2,919,160 12,548,895
9,230,912 4,490,081 (1,317,597) 12,403,396
@&F& '(()
@&F& '((+
3'")?@ 4.41 3'")?@ 8.39
3'")?@ 4.59 3'")?@ 7.96
AL<1.5"1 7I>*L489K1 4%
!<7 4%
;'"=// A.?+7%67$3B3@/$E7$3 $/.?+7#EA F$= 3GB3@7+6H+)*12%&'DBJ60+-61,
"+ 3$#A0?0 "+ 3$D-A6DLM" '(
%91.!J+189K1=>:AL<1.5"17I>*L489K1
I+6*12 1 /73$#/ N.F. 2556 7$3""7.<'6 I+6*12 31 O+6I$#/ N.F. 2556 7$3""7.<'6 I+6*12 31 O+6I$#/ N.F. 2557
89K1A47$M 26%:. D(1 89K1
89K1%D0++5=>: .!D(5/34!:=>K< 89K1
480,000,000 80,000,000 560,000,000 560,000,000
480,000,000 80,000,000 560,000,000 560,000,000
89K1%D0++5=>: .!D(5/34!:=>K< 4%
480,000,000 405,162,100 885,162,100 80,000,000 2,500,334,647 2,580,334,647 560,000,000 2,905,496,747 3,465,496,747 560,000,000 2,905,496,747 3,465,496,747
$/3$)-$67$3B3@&</IA=$/+PQ5'R:".<'6 #3+,-*12 1/2556 D/:2"I+6*12 26 737S$#/ N.F. 2556 *12B3@&<//1/ A%.'43AT+*DNA2/*<6 (0*@D41)6;"-43AT+*($7 480 ?'$64$* DBJ6 560 ?'$64$* U0)7$3""7.<'6=$/+P%./!(8$6I6 80 ?'$6.<'6 /5?#!$.<'6?@1 4$* DBJ6(8$6I6D-A63I/ 80 ?'$64$* 43AT+*90'(0*@D41)67$3DNA2/*<6(0*@D41)6=8$.3+4.<'6(8$6I6 80 ?'$6.<'67+473@*3IN$EA&)GD/:2"I+6*12 16 =A-.$#/ N.F. 2556
246
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= '(
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
!" " " "
%,("#-%./#0'" %,("#-%./-12"3,#.456" 2#7#" $$%" 2#7#" $$!" 2#7#" $$%" 2#7#" $$!" ,"6" ,"6" ,"6" ,"6"
4$9M:'ES 0&9;666F=%D3,ES 4$9EA34ES
56,000,000 56,000,000
48,000,000 8,000,000 56,000,000
56,000,000 56,000,000
48,000,000 8,000,000 56,000,000
M3!-6F63G5&??&M15617&(!=3G'0@32&9 -./. 2535 5617&(M:$,;@36$,M3!2T=!34$4D3,':$46:$4AF 5 <$,2@386;>(Q1=A&,032 =&2;D%'<$,<39(>';F;!42!3 (*:3!)) 0'2%D3;@36$,M3!2T=!34')R0F!)!LAND38!D':$42%D36:$4AF 10 <$,(>'09(F 5)4' " %"
("#89"+:;+<=>*?>/-@A/-(BCD"
" 2A>D!5617&(B=:;1(Q1O"R$=>:';3!&?()#$$2B=!DH945617&( Toyo-Thai Power Holdings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lack-Scholes O+#, !)!LAND3 1.084 =6)4?9$AA36U;=6&V=6"$ ()45 (D3 32.75 53(MD$;1(Q1 <:$!LA;@3N&?()#BG:B';LM6236N@3'%PN"$63N3=>:'*&% IA)#4 *D%,'R@3='&2 P %&'B=:;1(Q1 !LAND3 1.084 =6)4?9$AA36U;=6&V=6"$ ()45 (D3 32.75 53(MD$=>:' ND3N%3!K&'K%'6:$4AF 10 $&M63 KAM$5C('<$, ,1'EX'KA6:$4AF 2 CAF$&M639$2 5)R4E63/032N%3! ;)#4,6:$4AF 2.85
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
247
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= '*
534)!'G+89H1 !"#$%&'()*+,-.+/0.+1"+234567+,'89$:;-2<(=&>!"+?@ABC "$("$ !"#$D&?+234567+,'89$:;-2<(=&B*?CE!"+?+()*+D"F-=G-?5HI34C G&?8+.!"(+- %"FE!"+?+()*+234'' E!"(+&"C<+$J(?&"86K ; 54!.;"1!<7 ; 54!.;"1.?@4: !"#$% -!$ -!9;I87G @&F& '((+ @&F& '(() @&F& '((+ @&F& '(() "! #$D&?+234567+,'89$:;-2<(=& (9"2) E!"+?+()*+D"F-=G-?5HI34C234G0'ABC9)>>IL"C+' $J(?&"86K (()*+) !"#$%&'()*+,-.+/0.+1"+234567+,'89$:;-2<(=& (9"2)
460,454,329 869,624,015 429,682,227 732,205,379 560,000,000 532,164,384 560,000,000 532,164,384 0.82 1.63 0.77 1.38
9$:;-2#F&F3 "$'' ()*+D"F-=523C952&"6$-9IB<+$J(?&"86K234+!"5D+',*"8%*+ ',
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
248
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= $*
!4()6G+H01
!"#$%&'()$ "*+,((-+ ./0)1+""+(2()$34567+#89058./0 .%:')8,37#"9 -;&01(98 "*+,((-+ ./0)1+""+(1*+<07+'!/2"(=> (+', ?!@:0 (A3 !"
; 54!.;"1.?@4: !"#$%
@&F& '(() 4%
; 54!.;"1!<7 -!$ -!9;I87J @&F& '((+ 4%
@&F& '(() 4%
@&F& '((+ 4%
168,583,990
75,838,342
63,684,504
12,426,988
44,571,874 5,597,456 218,753,320
288,843 8,340,516 84,467,701
699 3,624,441 67,309,644
(21,851) (37,320) 5,977,063 18,344,880
!"#$%&!"'(")*+,-./0% ,12"3+,-.345 ;391;3<,#=5! 7#># $%%& 7#># $%%' 1": 1": B+C%#890, ?D02E2F11/$)0 B+C%#890, ?(!"+(G) $)HI% (<3+'#<G/J -?! 23) (A367+DI?17+'B+C%#890, ?
./0*/1*23453226534*738*79:52;2<23=
67,104,005 (8,196,769) 58,907,236
231,950,044 10,028,684 241,978,728
,12"3+,-.+67"813-)9: 7#># $%%& 1":
7#># $%%' 1":
117,638,051 (2,264,277) 115,373,774
187,069,162 (2,649,891) 184,419,271
!"#!$% &'(!%) *+,,-
249
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= $%
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
; 54!.;"1.?@4: !"#$% @&F& '(() 4%
@&F& '((* 4%
496,575,326
1,121,885,112
545,056,001
916,624,650
20 99,315,065
20 224,377,022
20 109,011,200
20 183,324,930
(38,894,184) 13,463,972
(26,161,468) 29,914,040
(48,242) 8,790,574
(442,618) 4,020,166
(74,261,312) (5,249,053)
(14,997,551) (6,471,429)
-
-
4,446,329 (2,250,253) 12,921,240 31,862,668 17,552,764 58,907,236
203,254 (2,649,891) (10,548,664) 33,639,394 14,674,021 241,978,728
(2,296,599) 32,322 (115,481) 115,373,774
(2,649,891) 166,684 184,419,271
"2 1$#$%&'()*+,-9&=>9-;1)(K2<'S6&=:9&=GB-./$0123467!831)%29>6E31)%29 ?Q" "2 1$1-":6E 12 KM(1-":6E 21 (O.F. 2556 : "2 1$1-":6E 21 KM(1-":6E 22 )
250
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= $'
*G4H/I2G4('47>$5#J:
"! #$%&'(!)%*+",-./ !"*$0123"(!)%*+",4!#, !"# $%&#'()*+,'-!'().(/-)012#3&%4# 5&!6#78!,# *+,9:4/-;8<, *+, 2+,=+,1 *+, >%4&?-,*,'()*+,@7$=A,B#+,1 (B?,1 B@CD 5E& 17 '()5E& 18)
@&F& '(() 4%
; 54!.;"1!<7 -!$ -!9;H87G @&F& '((* 4%
@&F& '(() 4%
@&F& '((* 4%
13,449,652,636
11,226,786,950
9,775,251,388
11,440,904,517
2,444,406,688 62,881,980 599,031,500
2,647,159,762 22,705,228 164,301,937
2,678,085,723 49,142,787 591,366,955
2,464,120,019 15,828,044 139,920,375
43,439,860
77,184,700
27,786,214
23,776,908
/"2"!#$$%! +%#!
&+'%()&*"(,-! /"2"!#$$&! +%#!
101,137,770 4,901,855 106,039,625
27,375,341 27,375,341
; 54!.;"1.?@4: !"#$%
!"#$"#%&'%()&*"!!
!
! ! ! $&8 F:G1=+,1! &%4# H -I?@E#9C#9,!8,- !"#
&+'%()&*")./%0'*1'%(! /"2"!#$$%! /"2"!#$$&! +%#! +%#! 72,443,724 72,443,724
5,388,299 5,388,299
!
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
251
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= $*
.*!G0+;7G+%4;54!.;"1 ( ) !"#$%&'()*+,-#./!"#$01 0%21"# 3 4&#$.5 31 6&#4078 '.9. 2557 :%";&$*+,:%";&$(<=(8.(=>712-+?=@=1!"#$%&'()$01 0%21"#*+,-#./!"#$01 0%21"#$.52AB# ! C+21"#D%0D<01A%,2$9 >&1#./ "81H<( + 4%,.;"1'!4'H4;-!:.%F# ; 54!.;"1!<7
A59>.;"1 >=++0%)!-%&EF 2(#G.5ACH# (IJ% A=#>) >=++0%)!"17JA%) >=++0%)==!2D%2+.( 2AJK LM+"AAM#!) J7%#0 !4.2># %"1 "D 802+2K.( 28.(#80%) NO0> D0 0 :&17+02$9 P%(&+ 0D0%)%"
252
!"#!$% &'(!%) *+,,-
; 54!.;"1.?@4: !"#$%
+$'!4=>5.->D0(1 I <$1%D0 $% E$1<4*7 @&F& '(()
A"1%!$@(,
81DCA"1
A"1%!$@(,
81DCA"1
%4;54!.;"1
%4;54!.;"1
%4;54!.;"1
%4;54!.;"1
+$'!4JG+C
+$'!4K4(
1,041,140,078 1,133,341,237 1,901,234,917 1,529,912,981 866,247 3,944,664 756,022 3,944,664 278,255 60,389,763 3,902,620 60,389,763 9,035,249 9,035,249 4,299,435 362,170 362,170 1,052,757 1,052,757 837,364 837,364 1,863,643,149 1,505,664,098 409,640 409,640 16,657,646 11,297,693 441 441 18,563,523 1,907,734 18,563,523 1,907,734
32.8128 0.2712 39.7507 50.7959 24.6644 26.5348 0.7243 4.1572 9.2880 0.0318 0.4211 9.0100
33.1132 0.2765 40.3552 51.5035 25.1274 27.0788 0.7512 4.2413 9.5621 0.0321 0.4249 9.0925
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= $*
.*!G0+;7G+%4;54!.;"1 ( !") ( ) !"#$%&'()*+,-#./!"#$01 0%21"# (345) ! !"#$ " %&'#()*!+,&+"&)-,.('/$ )%0&,()*!,#1
>0A8()*! 65++0%)!-%&78 2(#9.:;<=# (>?% 65++0%)!"1@?;%) 65++0%)55!23%2+.( 2;?A BC+";;C#!) ?@%#0 !D.26# %"1 "3 E02+2A.( 2E.(#E0%) FG06
)%0&,()*!(23&.%,*45'
65+,&780(-89:$! ; #5!'9: %& <5!#&=1 3'/' ())*
>*!',53$?
!9@>*!
>*!',53$?
!9@>*!
'&)0&,()*!
'&)0&,()*!
'&)0&,()*!
'&)0&,()*!
65+,&BC6@
65+,&D&$
69,619,481 201,521,208 162,500 72,984 24,840 75,944,358 64,874
51,548,135 100,114,619 2,408,571 212,189 84,119 46,360,000 17,264 209,332,780
67,359,590 1,415,558 162,500 -
44,719,273 100,114,619 2,408,571 192,189 84,119 17,264 -
32.6778 0.3102 44.7210 25.6485 28.9078 0.7266 4.9802 9.8205 0.0331
32.9494 0.3159 45.3225 26.1167 29.4474 0.7529 4.8902 10.1137 0.0334
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
./0*/1*23453226534*738*79:52;2<23=
303,537,000 2(# 1,051,092,000 2(# 155,251,500 2(#
!"#!$% &'(!%) *+,,-
253
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= $*
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
0/*4?1A8%A(2$,7(7('G6&7&%8149B8*F8',.9>089>(G3A"/8=4
; 54!.;"1.?@4: !"#$%
7J>*L4'47A$MM4 4%
7J>*L4(9'E" !!7 4%
7J>*L4'47A$MM4 4%
7J>*L4(9'E" !!7 4%
-
-
112,084,903
124,411,236
.;"15JI(G7!:(:(4<245AN4 $154!.;"1=>:89I15JI)7L6I+(A"%E" )7L7D8>$5-!:5$1 $%&#!'() *+,,$3"/0/*48%A,7(7('GF'8-<':=48',0/*46&71)A48%AN$!5A"(-*.+* N$!$91&=8D,78=4HI>/$9"= ,'5"80:9B(#/.9>#C'4GJ F'8$%&#!'DKFF):=43"/8,76-0/*4-5?4"4'# #*5&55AG("= ,'5"80:9B(0/*48%A(2$3"/ &'5 J G=4.9>?4/:8',0/*4 $%&#!'() *+,,$-).+*3"/0/*48%A(2$,7(7('GF'8-<':=48',0/*46&71)A48%AN$!5A"(-*.+* N$!$91&=8D,78=4"= ,'5"80:9B(#/.9> J G=4.9> 31 +=4G'#$ L.M. 2557 $95=/49B ; 54!.;"1!<7
0/*48%A(2$,7(7('GF'8-<':=48',0/*4 1)A48%AN$!5A"(-*.+* N$!$91&=8D,78=4
254
!"#!$% &'(!%) *+,,-
; 54!.;"1.?@4: !"#$%
7J>*L4'47A$MM4 4%
7J>*L4(9'E" !!7 4%
7J>*L4'47A$MM4 4%
7J>*L4(9'E" !!7 4%
3,251,310,000 1,000,000,000
3,443,042,372 1,027,727,796
1,000,000,000
1,027,727,796
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= $*
.*!G0+;7G+%4;54!.;"1 ( !") #$%%&'()"*&+,-./ 0& !&-102,345!6-7/8& 9:5;!&+< .=009*"-#$%%&'()"*&+,-./ 0& !&-102,345!6-7/8&;>&/6?@A+BC8"$ 0&3DEF>&7/A@A+=/&;&0*"-G0.H$3,#9("/6!&IA8 +F,5.F#$%%&,75!&/$)/ ? 6$/3DEB/-GJ#A-K&/2F&0,-./ 9:5;!&+< .=009*"- 0&#&0"/<L$/=M ? 6$/3DEB/-GJ#A-K&/2F&0,-./9DA$- !"I1/D) !" #$%%&'()"*&+,-./ 0& !&-102,345!6-7/8&3DE,1N/30$L+M#./
-
#$%%&'()"*&+,-./ 0& !&-102,345!6-7/8&3DE,1N/7/D)#./ !"
422,436,977
#!$%&'()*+,-%.+/012+"/34!56(27890+ ? 6$/3DE 31 =$/6&;9 L.4. 2557 F5<!9G0.H$39DO&02P:FL$/J527/D)#./3DE"&Q,F.A*R)/B/O&+7/8&0693$)-#$%%& !&-S A$- !"I1/D) #$
#!$%&'()*+"/36:;+8<4&'(=*76)>34?@<6:;+$!A5B!ACD!A"E+ G0.H$39DO&02P:FL$/,FDE+6F$G#!6/*"-,-./5-3</3DE+$-I9!,0D+FC>&02B/ Orient Bio-Fuels Company Limited (OBF). 'RE-,1N/ G0.H$30!69;8&B/102,34,6D+A/&9,1N/Q>&/6/,-./ 4 58&/,70D+%A"55&0M#70$KT 70(",3D+G,3!&1029&? 131.85 58&/G&3
%$
#!$%&'()*+"/36:;+8<4&'(=*7F!=1*GG!6@B!7H!6+2+I!+,-%1*GG!$* $2(!$ G0. H$ 3 J52G0. H$ 3 +! " +IA8 3> & #$ % %&3DE , FDE + 6F$ G F&0,C! & J52G0. F &0L() / 3DE #> & /$ F -&/J52;! & ,C! & +&/L&7/2 ? 6$ / 3DE 31 =$ / 6&;9 L.4. 2557 J52 L.4. 2556 F5<! 9G0. H$3 J52G0. H$3 +! " +9D O &02P: F L$ /B/F&0Q! & +;! & ,C! & &9#$ % %&,C! & A>&,/./-&/3DEG"F,5.FI9!IA8A$- !"I1/D)
5B!A@H!$%#!A?+ 1 1U 1 - 2 1U 3 - 5 1U 069
./0*/1*23453226534*738*79:52;2<23=
)&J& %""' -<!+ !"
)&J& %""( -<!+ !"
108.64 43.55 15.68 167.87
129.46 139.20 19.99 288.65
!"#!$% &'(!%) *+,,-
255
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= $(
G4!:HI5@$1=>:81DCA"1%D0+42.5"6JKC1 ( !") $#
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
*#
*6DLM+;!N+; C&17D$!+96W ../. 2557 0123%'1%0:D-+B!$9?D!9D&R)9PF<=>)&UV"90123%'C&:1>)"9 8+1N2FA%EE+P-!J!+=,!+CB<J!+=:.2)-: 2- +S<" 8@9 TF=0123%'F%98@!+$:1(=81<"9,!+:A(=D+=C&T,198+18!"A1<+9 2 T,198+1J5+&$& 18.79 @<+&0+'?@7J5+&$& 66.18 @<+&0+' +-@5+F%0 "=!+9P18X +-0123%'PF<=>)&,5+CD<8+1 !"A;<,F(6Q2:A*'L8S<"8@!+$D+?@<$ ?@70123%'PF<UV"9?=<9 :1(=81<"9,!+:A(=D+=J5+&$& 65.05 @<+&0+' TF=:0>4"9 <&/+@&%F.=+&TJ'8GJ5+:@=$%&'() 23 - 26 -2YL&+=& ../. 2558 ?@7$%&'() 30 -2YL&+=& - 3 818Z+,- ../. 2558
256
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/00123425%%+."67289:92;<<= $*
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oyo-Thai Power Myanmar Corporation Ltd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ake-or-Pay) S6>*%93$'3$%&CI2"1-2I;95WWX(98(F2"1=23*( $%&567T8(2I;.7!N#=O @0?Z 5= (Make-up) S6>5*0@7?ET8(2I)0(-2I;95WWX( @(*<EB&?#5GG?EG7?@-.E9"*=$(#6"E-.0(!-./0*1234"$@7?E90E*?1 93#$2"+>JNF7;-0PH7NF79"*=$(#<*B&?9"::(93A#9/6.E (Built-Operate-Transfer) #?-C(-#"A#-./0*1234"$*%M(2IPH-+"#N#-(2 =2"1=2/E>-<)2B&?E)2"AENF:0$/-9(*=O -./0*1234"$5672"12H72(>567C8(#!# 1,781,809,714 1($;.I-8(52C8(#!# 238,410,144 1($N#2?12I>I<!.($%&*%-(2;.-<=.%&># -(2NF7123-(2-0?927(E-"193#$2"+>J$(E-(2<E3# !""#'<=#;)*0>, 1234"$567$8(9"::(<T0($%&63#-"1-2I$2!E5WWX(;F0E9('(2 2"K;F0E9FM(+<*%>#*(2JS6>G7?-8(F#6N#9"::(CI*%P.1"E)"1NT7 @"AE;@0!"#$%&$8(9"::(;.I*%P.@0?<#B&?E<=D#2I>I<!.( 30 =O S6>*%P.1"E)"1NT7@"AE;@0!"#$%& 15 +Y4M()* +.,. 2556 <=D#@7#5=
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
257
&$)>%/2?@?ABC/A26D$E'DF$G%1+2H!"I%-2J7#"G+K !"#$%%&'( )*+ ,-.%%+/01023425%%+."67289:92;<<= $)
.8'954!G,H4(8>$;<$1%D0I1; =A6;J41:54!.;"1 1)
!"#$%&'(% )*+,$-.%/0, 5 * "!1* 2.3.2558 4"56./78(#$%&'(%9%4"56./ Toyo Thai-Myanmar Corporation Co.,Ltd :;!%-% 100 &'(%)<=% :;!%-%)>5% 33,737.80 )&"0?@8$AA!"BC&".DE$)*"5 ! 9&(F G4"56./ Toyo Thai Malaysia Sdn. Bhd.
2)
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
!")<A0,?%T+,$4"56./ H!**H5/0,<"MT'*1JM ""* !"4"56./1".I>/0, 1/2558 -.%/0, 2 *0%!1* 2.3. 2558 78($%'*.H5)C%$9&()<A0,?%T+,$4"56./:! 4"56./ #H#?-7/? 1$"B<$)"T.,% :;! .8 (*&!T%) )<=% 4"56./ /0/0U0F$A :;! .8 (*&!T%) /.I>%0I !"$%'*.H5)C%$9&()<A0,?%T+,$ 4"56./1".I>%0I:M78(%;!)C%$HG$/0,<"MT'*9&@GPL(Q+$&'(%<"M:;!<O 2.3. 2558 )2+,$25:!"J!$%'*.H5HG$7<
5)
!"$$ FAM)C%$K!?H"!C!"&%0I H!**H5/0,<"MT'*1JM ""* !")*+,$-.%/0, 2 *0%!1* 2.3. 2558 78(*0*H5$%'*.H5 !"$$ FAM)C%$K!?H"!C!"&%0I9%->)>5% 7*G) 5% 4,000 A(!%4!/ )2+,$%;!7<9T(9% !"K?!? 5: !"K$>4"56./ FAM)2+,$ !"4"5&!":.8 !"8(!% !")>5% /.I>%0I !"$%'*.H5 9&($$ FAM)C%$K!?H"!C!"&%0I:M78(%;!)C%$HG$/0,<"MT'*9&@GPL(Q+$&'(%<"M:;!<O 2.3. 2558 )2+,$25:!"J!$%'*.H5HG$7<
258
!"#!$% &'(!%) *+,,-
./0*/1*23453226534*738*79:52;2<23=
!"#$"!%&(' !"$)*+,+-./01!"#."+(!234"(56789+&: 6(;+<(="9(!2$">?@2$!!9$"!$4"$-A=7"B%C+ %&' %3D EEFGHHI 6!0'1.,7-$6$@JK 6.0'1+<L M72NOP&$"!!"#."+$"!6(QB6R#LS19T76$&'#N$-AU"+2$"!6.O+M72R7$"!B4"6+O+."+L1.A!OV-% %&'11$,7-$%!-W#K XB#*YSA-.?-A=-:.M=8 Z 9$!"?9 GHH[ 6(;+=S+<( B-.+&:
!"# ZD GD ^D ED HD ID [D `D dD ZcD ZZD ZGD Z^D
+X#A"#M72\"W!N9$"!(!2$1APC!$O3 7-$V@2$"!(!2$1APC!$O3 (_33-#?N"96/&'#. LS19T7%-'N<(M72LS19T7/4"?-a10'+ RTSb01,CS+ +X#A"#$"!38"#6.O+(_+R7 X?!./!S".$"!3-B$"! $"!$4"$-ABTM7$O3$"! ?N"9!-AROBY1A=81/-.?9 $"!?NA?C9\"#*+M72$"!A!O,"!3-B$"!?N"96/&'#. !"#$"!!2,N8".$-+ LS19T7%".$"!6.O+%&'/4"?-a $"!NO6?!"2,KM72?4"1POA"#L1.ef"#3-B$"!
G]^ ZE]Z[ `Z]`^ ($,7-.BS"+*+ I[ ZHE Z` `E]Zc[ ZZZ]ZEG Zc`]ZZc ZEE]ZH^ E]H ZHH]ZIG
RTS7.%C+/"9"!b>g$V"LS19T7L1.A!OV-%%&'11$,7-$%!-W#K6WO'96=O9<BS3"$MAAM/B.!"#$"!LS19T7(!234"(5 hMAA HI]Zi L1.A!OV-%%&'M/B.<NS*+ jjjDklmDnoDpq ,!016NrA<s=KL1.A!OV-% jjjDpntn]pquvDmnw
EFG3FH3IJKLJIIMLJK3NJO3NPQLIRISIJT
!&,+&)#!9:%&#/ 3744;
259
!Z2Z _*]]->`!4 ;*!?"->+&7 '*+',-
!"# :(+G-^4 `-7%>!G" '*+',-
!Z2Z 2E!*+" !*8&!0$& '*+',-
!"# .-I:>D!4 %b"c,0' dTefgVNegP QRSTUNVWTVXTVW
!"#$%#&'(#) !"#$ !"# $"%& #'()# !"# 1,2*!3-4 5678#'9:1-;!4 !"# :(C4:>D!4 ,E+56*+;-*#" !"# 2-'EG 9H##I'(+4 !"# +-"#E3G*L '*&63-( !"# $--%:6 %E0&Y3G*L !Z2Z H6G*H" ;>!3-'*H># !Z2Z ;7-'>2 [E!5:\H-4 !Z2Z G>]^_>H [!3->:#4 !"# $G*#E` 2*(/I,"!Z2Z :--^_" :-/&;>!3-4 !"# 2E'*3#4 5,`E->,C" !Z2Z _*]]->`!4 ;*!?"->+&7 !"# .-I:>D!4 %b"c,0' !Z2Z 2E!*+" !*8&!0$& !Z2Z .-*+!" _=,$(c,0' !"# :(+G-^4 `-7%>!G"
%&'()*+,
)*-'
'*+',<=0;>?,"-?0"!'*+',--&1%-(,"'*+','*+',MNONP QRSTUNVWTVXTVW '*+',:!>,("! '*+',:!>,("! '*+','*+','*+','*+',dTefgVNegP QRSTUNVWTVXTVW '*+',:!>,("! '*+',-
.,/!0" .,/6>( /!0" @A BBB .,/6>( /!0" BA F .,/6>( /!0" JA BK .,/6>( /!0" BJ .,/6>( /!0" @ .,/!0"?0"!)! /!0" F .,/!0"?0"!)! .,/!0"?0"!)! .,/!0"?0"!)! /!0" @ /!0" F /!0" FJa /!0" FJa /!0" FJa /!0" F /!0" FJa
!"#$%&'() !"#*+'+#(,-.' )/"0(1,23+4(-,+45678
! "#$%&' ()(*+,'* -.#/0.1#2&34 5678&9 :;<724= ! >?@?+>ABC D?EF?EBGC?H IJKLCM D?NFBH@ OCNCGPQ ! RSTUVR+VV .7-7#1W#$;;$)#'7X1X.#/ 2&Y4 Z[+\] ^44W_`_;X$' ZR :.(a8= b`Xc-d.c1)*1<4e. 1`)X&f47 8#_c1'g;<74-# R]RR] 9)%:(;)< ! :hh= ZZh] iS]S 9)%2+% ! :hh= ZZh] iSZS+h Home Page ! jjjkG?@?+GABCkM?N =%>?*)@A%-&B ! X$aX8##;"#$87# bdl#&"1<;78m.W#n7c(#cc74._)W7<8##;b"" -#"Xc5# :oHGPpEBGPQ qID= ?CD)>?$/E4$%&'() ! ]R][SSR]]]RiS )A4BF)>?$/E4$%&'() ! Sh]r]]]r]]]k]] "7' )A4 3+%>GCHI ! Sh]r]]]r]]]k]] "7' JKCL8+6AH4 ! ;sd-m7<_n4't3)#7,Xn<_n4dl R "7' 4+E)>?$/E4$%&')( 6C(-)%(;E< ! "#$%&'as4*/#&"u78<d&8'#&g*/ :0#l1'a,'*= 5678&9 hZ .7-7#)d79<d&8'#&g*/b<mc0#l1'a,'* ^44#&297v$1%8 1`)-d.c1)* 8#_c1'g;<74-# R]RR] 9)%:(;)< ! :hh= ZZZT Zi]] 9)%2+% ! :hh= Z\ST RZST $%&'()MKH2#$$(7 / ! "#$%&' ,g#nwX.1).#/1x7W/-s10.#/W 1."t1.1.W 5678&9 R[TU[V+i] .7-7#"7c8.8w$)tY'7X1X.#/ 2&Y4 RS ^44W7y#z)n b`Xc'_mc;<71;{ 1`)W7'# 8#_c1'g| 9)%:(;)< ! :hh= Z\VV R]]] 9)%2+% ! :hh= ZZih S]S] MKH2#$$(7 /%($#4A7+0 ! 47*0#lW$'y$} 1*e3.ca#t8_d ~snW.""& 2t#&".4_ 7)1d`'t3 \T[[ 47*W;27* 5$ ( X7' ~snW.""& 2t#&".4_ 7)1d`'t3 \Z[R 47cW7X.;##&)4/ 1g$3;gs4X&f47W_` ~snW.""& 2t#&".4_ 7)1d`'t3 VSTT
./0*/1*23453226534*738*79:52;2<23=
!"#!$% &'(!%) *+,,-
0A
Designed & Printed by Style Creative House T. 0 2945 8051-3
!"#$ %$$&'()(*+,*-..-/*0(1+1'*2&3456&78%9: ;66,<=<.1-0&7 &>'?@AB&C=1D)E'D+/F+G6H' +=/14I6(&A*<D+0J.G(6)*& : : ?0*@4J02&K&>LLB&7&7L:&M!:!&?0*,(*&K&>LLB&7&7L:&M!7!%L WWW.toyo-thai.com