106
!"#$%&#'(")$*+$,-(.'$/012)(")
!"#$%&'#%#$(")
*+$ ,-&$./#0#/$%#0/#$1$.&,-#"$#,#$("$01$0#/$&2"'#3
!"#$%&#'(")$*+$,-(.'$/012)(")
!"#$%&'#%#$(")
*+$ ,-&$./#0#/$%#0/#$1$.&,-#"$#,#$("$01$0#/$&2"'#3
4+$ 01$.5,5,-#$5$01$.#/0#,-#$&2"'#$("$01$.#/0#/$,5#3
!"#$%&#'(")$*+$,-(.'$/012)(")
!"#$%&'#%#$(")
*+$ ,-&$./#0#/$%#0/#$1$.&,-#"$#,#$("$01$0#/$&2"'#3
4+$ 01$.5,5,-#$5$01$.#/0#,-#$&2"'#$("$01$.#/0#/$,5#3
6+$ 01$.5,5,-#$5$01$.#/0#,-#$&2"'#$("$01$78,#.#$/#'#$083
!"#$%&#'(")$*+$,-(.'$/012)(")
!"#$%&'#%#$(")
*+$ ,-&$./#0#/$%#0/#$1$.&,-#"$#,#$("$01$0#/$&2"'#3
4+$ 01$.5,5,-#$5$01$.#/0#,-#$&2"'#$("$01$.#/0#/$,5#3
6+$ 01$.5,5,-#$5$01$.#/0#,-#$&2"'#$("$01$78,#.#$/#'#$083
9+$ 01$:.#(##0/$.#/0#,-#$&2"'#$("$01$'#/1%"3
!"#$%&#'(")$*+$,-(.'$/012)(")
!"#$%&'#%#$(")
*+$ ,-&$./#0#/$%#0/#$1$.&,-#"$#,#$("$01$0#/$&2"'#3
4+$ 01$.5,5,-#$5$01$.#/0#,-#$&2"'#$("$01$.#/0#/$,5#3
6+$ 01$.5,5,-#$5$01$.#/0#,-#$&2"'#$("$01$78,#.#$/#'#$083
9+$ 01$:.#(##0/$.#/0#,-#$&2"'#$("$01$'#/1%"3
;+$ 01$'#/7#7#$.#/0#,-#$&2"'#3
!"#$%&#'(")$*+$,-(.'$/012)(")
!"#$%&'#%#$(")
!"#$%&#'(")$*+$,-(.'$/012)(")
*+$ ,-&$./#0#/$%#0/#$1$.&,-#"$#,#$("$01$0#/$&2"'#3
4+$ 01$.5,5,-#$5$01$.#/0#,-#$&2"'#$("$01$.#/0#/$,5#3
6+$ 01$.5,5,-#$5$01$.#/0#,-#$&2"'#$("$01$78,#.#$/#'#$083
9+$ 01$:.#(##0/$.#/0#,-#$&2"'#$("$01$'#/1%"3
;+$ 01$'#/7#7#$.#/0#,-#$&2"'#3
<+$ 01$:.#(#50"$7#.1(5$=>$2$?$@A$1$:.#"$:&."$%#"$#,#$01$$ $ $ $
$ .#/0#,-#$&2"'#3
!"#$%&'#%#$(")
!"#$%&#'(")$*+$,-(.'$/012)(")
*+$ ,-&$./#0#/$%#0/#$1$.&,-#"$#,#$("$01$0#/$&2"'#3
4+$ 01$.5,5,-#$5$01$.#/0#,-#$&2"'#$("$01$.#/0#/$,5#3
6+$ 01$.5,5,-#$5$01$.#/0#,-#$&2"'#$("$01$78,#.#$/#'#$083
9+$ 01$:.#(##0/$.#/0#,-#$&2"'#$("$01$'#/1%"3
;+$ 01$'#/7#7#$.#/0#,-#$&2"'#3
<+$ 01$:.#(#50"$7#.1(5$=>$2$?$@A$1$:.#"$:&."$%#"$#,#$01$$ $ $ $
$ .#/0#,-#$&2"'#3
B+$ 01$:.#(#50"$'#7#,-#$1$:.#"$:&."$%#"$#,#$01$.#/0#,-#$&2"'#3
!"#$%&'#%#$(")
*+$ ,-&$./#0#/$%#0/#$1$.&,-#"$#,#$("$01$0#/$&2"'#3
4+$ 01$.5,5,-#$5$01$.#/0#,-#$&2"'#$("$01$.#/0#/$,5#3
6+$ 01$.5,5,-#$5$01$.#/0#,-#$&2"'#$("$01$78,#.#$/#'#$083
9+$ 01$:.#(##0/$.#/0#,-#$&2"'#$("$01$'#/1%"3
;+$ 01$'#/7#7#$.#/0#,-#$&2"'#3
<+$ 01$:.#(#50"$7#.1(5$=>$2$?$@A$1$:.#"$:&."$%#"$#,#$01$$ $ $ $
$ .#/0#,-#$&2"'#3
B+$ 01$:.#(#50"$'#7#,-#$1$:.#"$:&."$%#"$#,#$01$.#/0#,-#$&2"'#3
C+$ ,-#$.D(5"$%#0/#$%E$01$:.#(##(5$"$01$.#/0#,-#$&2"'#+
!"#$%&#'(")$*+$,-(.'$/012)(")
!"#$%&'#%#$(")
3.$3)4$#562)7$!"#$84),)4$9),4)
F$:.&$,-&$./#0#/$%#0/#$1$.#,-#"$#,#$("$01$.#/0#,-#$&2"'#+$
3.$3)4$#562)7$!"#$84),)4$9),4)
F$:.&$,-&$./#0#/$%#0/#$1$.#,-#"$#,#$("$01$.#/0#,-#$&2"'#+$
*+$ !5$,-&$0#/$&2"'#$.1$78,#.#$:.#(##0/$.#/0#,-#+
3.$3)4$#562)7$!"#$84),)4$9),4)
F$:.&$,-&$./#0#/$%#0/#$1$.#,-#"$#,#$("$01$.#/0#,-#$&2"'#+$
*+$ !5$,-&$0#/$&2"'#$.1$78,#.#$:.#(##0/$.#/0#,-#+
4+$ G#1'1$05,/$#"$0&$0&05/$78,#.#$/#'#$08$,-#./'/$("$,-&$7"05$1$'/#+$!&5'1$.1$
%/0/,-#$5$,-&$/#'#$(#"0&$'#:#H$5$,-&$/#'#$%E("05("05$.5("+
3.$3)4$#562)7$!"#$84),)4$9),4)
F$:.&$,-&$./#0#/$%#0/#$1$.#,-#"$#,#$("$01$.#/0#,-#$&2"'#+$
*+$ !5$,-&$0#/$&2"'#$.1$78,#.#$:.#(##0/$.#/0#,-#+
4+$ G#1'1$05,/$#"$0&$0&05/$78,#.#$/#'#$08$,-#./'/$("$,-&$7"05$1$'/#+$!&5'1$.1$
%/0/,-#$5$,-&$/#'#$(#"0&$'#:#H$5$,-&$/#'#$%E("05("05$.5("+
6+$ I.#(#,E."#$#"$01$"'#$("$0J0#."$0#/$.1"$:1.1:1.1$"$,-&$0#/50"$%1$,-&$
.#/0#,-#+$K'&H$(5$01$/#'#$08$5$,-&$0#."$("$01$0#.#$%#/D$5$01$"'#+
3.$3)4$#562)7$!"#$84),)4$9),4)
F$:.&$,-&$./#0#/$%#0/#$1$.#,-#"$#,#$("$01$.#/0#,-#$&2"'#+$
*+$ !5$,-&$0#/$&2"'#$.1$78,#.#$:.#(##0/$.#/0#,-#+
4+$ G#1'1$05,/$#"$0&$0&05/$78,#.#$/#'#$08$,-#./'/$("$,-&$7"05$1$'/#+$!&5'1$.1$
%/0/,-#$5$,-&$/#'#$(#"0&$'#:#H$5$,-&$/#'#$%E("05("05$.5("+
6+$ I.#(#,E."#$#"$01$"'#$("$0J0#."$0#/$.1"$:1.1:1.1$"$,-&$0#/50"$%1$,-&$
.#/0#,-#+$K'&H$(5$01$/#'#$08$5$,-&$0#."$("$01$0#.#$%#/D$5$01$"'#+
9+$ F$.&,-#"$05,/$#,#$,-&$'#/0#("$7#.1(5$0#/50"$=>$L$M$@A$("$,-&$'#/0#("$
7#.1(5$0#/$&2"'#+
3.$3)4$#562)7$!"#$84),)4$9),4)
F$:.&$,-&$./#0#/$%#0/#$1$.#,-#"$#,#$("$01$.#/0#,-#$&2"'#+$
*+$ !5$,-&$0#/$&2"'#$.1$78,#.#$:.#(##0/$.#/0#,-#+
4+$ G#1'1$05,/$#"$0&$0&05/$78,#.#$/#'#$08$,-#./'/$("$,-&$7"05$1$'/#+$!&5'1$.1$
%/0/,-#$5$,-&$/#'#$(#"0&$'#:#H$5$,-&$/#'#$%E("05("05$.5("+
6+$ I.#(#,E."#$#"$01$"'#$("$0J0#."$0#/$.1"$:1.1:1.1$"$,-&$0#/50"$%1$,-&$
.#/0#,-#+$K'&H$(5$01$/#'#$08$5$,-&$0#."$("$01$0#.#$%#/D$5$01$"'#+
9+$ F$.&,-#"$05,/$#,#$,-&$'#/0#("$7#.1(5$0#/50"$=>$L$M$@A$("$,-&$'#/0#("$
7#.1(5$0#/$&2"'#+
8.'$9)&'7N0#$:.#(##'5."#$.1$0#/"'#$.1"$:.#(##0/$"$"#$./#0#/$%#0/#+
3.$3)4$#562)7$!"#$84),)4$9),4)
G1"$:.#(#0#/"'#$"$01$./#0#/$%#0/#$0/#0#."$5$01$.#/0#,-#$&2"'#)
:1$("#$,)4$#5'2)$&.$;<()&)$=&)0)),4$&)4,)(")>
2$ !5$01$%#0"$&2"'#$0/#0#."$.1"$:.#(##0/$.#/01(#/+$K'&)
$ O$ P+*$Q$ **PH$P+4$Q$4*PH$P+6$Q$
6*P$+++$
3.$3)4$#562)7$!"#$84),)4$9),4)
G1"$:.#(#0#/"'#$"$01$./#0#/$%#0/#$0/#0#."$5$01$.#/0#,-#$&2"'#)
:1$("#$,)4$#5'2)$&.$;<()&)$=&)0)),4$&)4,)(")>
2$ !5$01$%#0"$&2"'#$0/#0#."$.1"$:.#(##0/$.#/01(#/+$K'&)
$ O$ P+*$Q$ **PH$P+4$Q$4*PH$P+6$Q$
6*P$+++$
2$ !5$01$%#0"$&2"'#$0/#'/#$.1"$:.#(##0/$.#/'#/+$K'&)
$ O$ P+P*$Q$**PPH$P+P4$Q$
4*PPH$P+P6$Q$
6*PP$+++$
3.$3)4$#562)7$!"#$84),)4$9),4)
G1"$:.#(#0#/"'#$"$01$./#0#/$%#0/#$0/#0#."$5$01$.#/0#,-#$&2"'#)
:1$("#$,)4$#5'2)$&.$;<()&)$=&)0)),4$&)4,)(")>
2$ !5$01$%#0"$&2"'#$0/#0#."$.1"$:.#(##0/$.#/01(#/+$K'&)
$ O$ P+*$Q$ **PH$P+4$Q$4*PH$P+6$Q$
6*P$+++$
2$ !5$01$%#0"$&2"'#$0/#'/#$.1"$:.#(##0/$.#/'#/+$K'&)
$ O$ P+P*$Q$**PPH$P+P4$Q$
4*PPH$P+P6$Q$
6*PP$+++$
2$ !5$01$%#0"$&2"'#$0/#05'/$.1"$:.#(##0/$.#/%#,5+$K'&)
$ O$ P+PP*$Q$*
*PPP H$P+PP4$Q$4
*PPP H$P+PP6$Q$6
*PPP $+++$
3.$3)4$#562)7$!"#$84),)4$9),4)
G1"$:.#(#0#/"'#$"$01$./#0#/$%#0/#$0/#'/#)$
8).2.$,1(4$)'$,#$,#,14$;<()&)$4)2)$,<$(")&424$0'$("#$
;',1$.$24)>$:#12.$&.$*4,4(")$1$("#$4)2)$0)',#$2)=)?$
1$("#$4)2)$*+0',10',1$&10'>
3.$3)4$#562)7$!"#$84),)4$9),4)
G1"$:.#(#0#/"'#$"$01$./#0#/$%#0/#$0/#'/#)$
8).2.$,1(4$)'$,#$,#,14$;<()&)$4)2)$,<$(")&424$0'$("#$
;',1$.$24)>$:#12.$&.$*4,4(")$1$("#$4)2)$0)',#$2)=)?$
1$("#$4)2)$*+0',10',1$&10'>
100,000,000 10,000,000 1,000,000 100,000 10,000 1,000 100 10 1...
... 108 107 106 105 104 103 102 101 100 10 -1 10 -2 10 -3 10 -4 10 -5 10 -6 10 -7 10 -8 10 -9 ...IRA 1
1001
1,0001
10,0001
100,0001
1,000,0001
10,000,0001
100,000,0001
1,000,000,000110 ...
×10 ×10 ×10 ×10 ×10 ×10 ×10 ×10 ÷10 ÷10 ÷10 ÷10 ÷10 ÷10 ÷10 ÷10 ÷10
3.$3)4$#562)7$!"#$84),)4$9),4)
G1"$:.#(#0#/"'#$"$01$./#0#/$%#0/#$0/#05./)$
%&)0)(+&')$)'$,.$'2)$0'$,-,)&'$,)4$&.'$=.&.=.&.$'$("#$
,)41,'$*.$("#$&)4,)(")>$/2#?$01$,.$4)2)$,<$1$("#$,)&'$$
0'$,.$,)&)$*)4@$1$,.$'2)>
3.$3)4$#562)7$!"#$84),)4$9),4)
G1"$:.#(#0#/"'#$"$01$./#0#/$%#0/#$0/#05./)$
%&)0)(+&')$)'$,.$'2)$0'$,-,)&'$,)4$&.'$=.&.=.&.$'$("#$
,)41,'$*.$("#$&)4,)(")>$/2#?$01$,.$4)2)$,<$1$("#$,)&'$$
0'$,.$,)&)$*)4@$1$,.$'2)>
375.294he tauoti
ki te taha maui
he hautau
ki te taha matau
3.$3)4$#562)7$!"#$84),)4$9),4)
G1"$:.#(#0#/"'#$"$01$./#0#/$%#0/#$0/#:.&)$
A$&#(")'$,1(4$)()$("#$2)4,)0'$;)&.01$,)41,'$BC$D$E$FG$0'$
("#$2)4,)0'$;)&.01$,)4$#5'2)>
3.$3)4$#562)7$!"#$84),)4$9),4)
G1"$:.#(#0#/"'#$"$01$./#0#/$%#0/#$0/#:.&)$
A$&#(")'$,1(4$)()$("#$2)4,)0'$;)&.01$,)41,'$BC$D$E$FG$0'$
("#$2)4,)0'$;)&.01$,)4$#5'2)>
2$ 6$M$9$Q$*4
$ O$ 6$M$P+9$Q$*+4$+++
$ O$ P+6$M$P+9$Q$P+*4$+++
3.$3)4$#562)7$!"#$84),)4$9),4)
G1"$:.#(#0#/"'#$"$01$./#0#/$%#0/#$0/#:.&)$
A$&#(")'$,1(4$)()$("#$2)4,)0'$;)&.01$,)41,'$BC$D$E$FG$0'$
("#$2)4,)0'$;)&.01$,)4$#5'2)>
2$ 6$M$9$Q$*4
$ O$ 6$M$P+9$Q$*+4$+++
$ O$ P+6$M$P+9$Q$P+*4$+++
2$ 4;$>$4B$Q$4;$>$4;$>$4
$ O$ 4+;$>$4+B$Q$4+;$>$4+;$>$P+4
3.$3)4$#562)7$!"#$84),)4$9),4)
G1"$:.#(#0#/"'#$"$01$./#0#/$%#0/#$0/#:.&)$
A$&#(")'$,1(4$)()$("#$2)4,)0'$;)&.01$,)41,'$BC$D$E$FG$0'$
("#$2)4,)0'$;)&.01$,)4$#5'2)>
2$ 6$M$9$Q$*4
$ O$ 6$M$P+9$Q$*+4$+++
$ O$ P+6$M$P+9$Q$P+*4$+++
2$ 4;$>$4B$Q$4;$>$4;$>$4
$ O$ 4+;$>$4+B$Q$4+;$>$4+;$>$P+4
2$ <9$L$B$Q$<9$L$9$L$6$
$ O$ <+9$L$P+B$Q$<+9$L$P+9$L$P+6
3.$=&)0))01$'$,.$,)4$#5'2)F$'/#$,-&$:&.#,-#$%#0/#$5$01$:.#(##(5$"$01$0#/$&2"'#)
3.$=&)0))01$'$,.$,)4$#5'2)F$'/#$,-&$:&.#,-#$%#0/#$5$01$:.#(##(5$"$01$0#/$&2"'#)
O$ R1$08.5,5$"$01$0#/$&2"'#$("$01$.#/0#/
3.$=&)0))01$'$,.$,)4$#5'2)F$'/#$,-&$:&.#,-#$%#0/#$5$01$:.#(##(5$"$01$0#/$&2"'#)
O$ R1$08.5,5$"$01$0#/$&2"'#$("$01$.#/0#/
O$ R1$08.5,5$"$01$0#/$&2"'#$("$01$78,#.#$/#'#$08
3.$=&)0))01$'$,.$,)4$#5'2)F$'/#$,-&$:&.#,-#$%#0/#$5$01$:.#(##(5$"$01$0#/$&2"'#)
O$ R1$08.5,5$"$01$0#/$&2"'#$("$01$.#/0#/
O$ R1$08.5,5$"$01$0#/$&2"'#$("$01$78,#.#$/#'#$08
SE$'1"'#H$("#$%&'#%#$01$&(5,-#$("$01$#.#$"$%/#$"$0#,#$#(5$"$,-&$.#/0#,-#$&2"'#T
$
3.$=&)0))01$'$,.$,)4$#5'2)F$'/#$,-&$:&.#,-#$%#0/#$5$01$:.#(##(5$"$01$0#/$&2"'#)
O$ R1$08.5,5$"$01$0#/$&2"'#$("$01$.#/0#/
O$ R1$08.5,5$"$01$0#/$&2"'#$("$01$78,#.#$/#'#$08
SE$'1"'#H$("#$%&'#%#$01$&(5,-#$("$01$#.#$"$%/#$"$0#,#$#(5$"$,-&$.#/0#,-#$&2"'#T
:')$*#2)*)$0'7
O$ 01$.#/0#/$,5#H$7J'&$"$01$ *4 H$01$69 H$01$;
46 H$%1$01$
B*PP
O$ 01$7/,#.#$/#'#$08$%E$01$0#/50"
$
100,000 10,000 1,000 100 10 1...
Whare MātāmuaWhare Mano...
÷10 ÷10 ÷10 ÷10 ÷10 ÷10
×10×10×10×10×10×10
3.$,<&1(1$'$,.$,)4$#5'2)$0'$,.$&)4,)4
F$%5."5$(J$#,#$01$&(5,-#$("$,-&$.#/0#/$7J,1"$"$01$*4 H$01$**PH$%1$01$
**PP +$SE$'1"'#$(#$
0/.5,5#$J,1"$.#/0#/$("$,-&$.#/0#/$&2"'#+
3.$,<&1(1$'$,.$,)4$#5'2)$0'$,.$&)4,)4
F$%5."5$(J$#,#$01$&(5,-#$("$,-&$.#/0#/$7J,1"$"$01$*4 H$01$**PH$%1$01$
**PP +$SE$'1"'#$(#$
0/.5,5#$J,1"$.#/0#/$("$,-&$.#/0#/$&2"'#+
S-&$%5%5$:.#(#0#/"'#)
O$ 0J0#."$#./#U'5.1$ $ $ $
$100 10 1
0
tauoti
5
hautanga
101
1001
10001
21
105 0.5= =
3.$,<&1(1$'$,.$,)4$#5'2)$0'$,.$&)4,)4
F$%5."5$(J$#,#$01$&(5,-#$("$,-&$.#/0#/$7J,1"$"$01$*4 H$01$**PH$%1$01$
**PP +$SE$'1"'#$(#$
0/.5,5#$J,1"$.#/0#/$("$,-&$.#/0#/$&2"'#+
S-&$%5%5$:.#(#0#/"'#)
O$ 0J0#."$#./#U'5.1$ $ $ $ O$ 0J0#."$'5#$ $ $ $
$100 10 1
0
tauoti
5
hautanga
101
1001
10001
21
105 0.5= =
= 0.3=3
10
2
5
3.$,<&1(1$'$,.$,)4$#5'2)$0'$,.$&)4,)4
F$%5."5$(J$#,#$01$&(5,-#$("$,-&$.#/0#/$7J,1"$"$01$*4 H$01$**PH$%1$01$
**PP +$SE$'1"'#$(#$
0/.5,5#$J,1"$.#/0#/$("$,-&$.#/0#/$&2"'#+
S-&$%5%5$:.#(#0#/"'#)
O$ 0J0#."$#./#U'5.1$ $ $ $ O$ 0J0#."$'5#$ $ $ $ O$ 0J0#."$./",-#
$100 10 1
0
tauoti
5
hautanga
101
1001
10001
21
105 0.5= =
= 0.7710
Ko te 0.7 te hautanga ā-ira o ngā porotiti whero.
= 0.3=3
10
2
5
3.$,<&1(1$'$,.$,)4$#5'2)$0'$,.$&)4,)4
F$%5."5$(J$#,#$01$&(5,-#$("$,-&$.#/0#/$7J,1"$"$01$*4 H$01$**PH$%1$01$
**PP +$SE$'1"'#$(#$
0/.5,5#$J,1"$.#/0#/$("$,-&$.#/0#/$&2"'#+
S-&$%5%5$:.#(#0#/"'#)
O$ 0J0#."$#./#U'5.1$ $ $ $ O$ 0J0#."$'5#$ $ $ $ O$ 0J0#."$./",-#
$
:1$,.$*.)$(4'$0')$*#2)*)$,.$#01(")$&.$)&)$,.$*.)$,<,)&'>$8.$)&)$)'H
100 10 1
0
tauoti
5
hautanga
101
1001
10001
21
105 0.5= =
= 0.7710
Ko te 0.7 te hautanga ā-ira o ngā porotiti whero.
= 0.3=3
10
2
5
3.$,<&1(1$'$,.$,)4$#5'2)$0'$,.$&)4,)4
:1$,.$*.)$(4'$0')$*#2)*)$,.$#01(")$&.$)&)$,.$*.)$
,<,)&'>$8.$)&)$)'H
3.$,<&1(1$'$,.$,)4$#5'2)$0'$,.$&)4,)4
:1$,.$*.)$(4'$0')$*#2)*)$,.$#01(")$&.$)&)$,.$*.)$
,<,)&'>$8.$)&)$)'H
V&$01$%E."5$("$01$'#."$5$01$%1#$080#."H$1$:."'":."'"#$#"$01$'#."$5$01$.#/0#,-#)
Ko te 0.6 o teparehe kotahi
Ko te 0.6 o teētahi parehe e rua
He whero te 0.8 o ngāporotiti katoa.
Ko te 0.5 tēnei o ngā porotiti whero.
3.$=&)0),)4'2)$'$,.$&)4,)4$#5'2)
G1$'#/7#7#0#,-#$7&0#"$0J,1"$.1$#'#0#("$"$01$&(5,-#$("$01$08./'#$"$01$$
.#/0#,-#$&2"'#+
3.$=&)0),)4'2)$'$,.$&)4,)4$#5'2)
G1$'#/7#7#0#,-#$7&0#"$0J,1"$.1$#'#0#("$"$01$&(5,-#$("$01$08./'#$"$01$$
.#/0#,-#$&2"'#+
R1(#/$,-&$:1.1,-#$5$01$75'5$0"#(#'10"$(50#.")
3.$=&)0),)4'2)$'$,.$&)4,)4$#5'2)
G1$'#/7#7#0#,-#$7&0#"$0J,1"$.1$#'#0#("$"$01$&(5,-#$("$01$08./'#$"$01$$
.#/0#,-#$&2"'#+
R1(#/$,-&$:1.1,-#$5$01$75'5$0"#(#'10"$(50#.")
O$ I.#(##0/'"#$01$.#/'/#$5$01$75'5$0"#(#'10"
3.$=&)0),)4'2)$'$,.$&)4,)4$#5'2)
G1$'#/7#7#0#,-#$7&0#"$0J,1"$.1$#'#0#("$"$01$&(5,-#$("$01$08./'#$"$01$$
.#/0#,-#$&2"'#+
R1(#/$,-&$:1.1,-#$5$01$75'5$0"#(#'10"$(50#.")
O$ I.#(##0/'"#$01$.#/'/#$5$01$75'5$0"#(#'10"
O$ G1$#.#$01$05./$.#/0#/$1$.&,-#"$#,#T
3.$=&)0),)4'2)$'$,.$&)4,)4$#5'2)
G1$'#/7#7#0#,-#$7&0#"$0J,1"$.1$#'#0#("$"$01$&(5,-#$("$01$08./'#$"$01$$
.#/0#,-#$&2"'#+
R1(#/$,-&$:1.1,-#$5$01$75'5$0"#(#'10"$(50#.")
O$ I.#(##0/'"#$01$.#/'/#$5$01$75'5$0"#(#'10"
O$ G1$#.#$01$05./$.#/0#/$1$.&,-#"$#,#T
O$ !5$01$;*P$0J0#."$#0/$05,/$.#/0#/$1$.&,-#"$#,#+$
$ I.#(#%&'#%#0"#$%#"+
3.$=&)0),)4'2)$'$,.$&)4,)4$#5'2)
G1$'#/7#7#0#,-#$7&0#"$0J,1"$.1$#'#0#("$"$01$&(5,-#$("$01$08./'#$"$01$$
.#/0#,-#$&2"'#+
R1(#/$,-&$:1.1,-#$5$01$75'5$0"#(#'10"$(50#.")
O$ I.#(##0/'"#$01$.#/'/#$5$01$75'5$0"#(#'10"
O$ G1$#.#$01$05./$.#/0#/$1$.&,-#"$#,#T
O$ !5$01$;*P$0J0#."$#0/$05,/$.#/0#/$1$.&,-#"$#,#+$
$ I.#(#%&'#%#0"#$%#"+
O$ !5$01$P+;$0J0#."$#0/$%5%5$.#/0#/$%E$0J,1"$.#/'/#$$
$ 75'5$0"#(#'10"+$I.#(#%&'#%#0"#$%#"+
3.$=&)0),)4'2)$'$,.$&)4,)4$#5'2)
G1$'#/7#7#0#,-#$7&0#"$0J,1"$.1$#'#0#("$"$01$&(5,-#$("$01$08./'#$"$01$$
.#/0#,-#$&2"'#+
R1(#/$,-&$:1.1,-#$5$01$75'5$0"#(#'10"$(50#.")
O$ I.#(##0/'"#$01$.#/'/#$5$01$75'5$0"#(#'10"
O$ G1$#.#$01$05./$.#/0#/$1$.&,-#"$#,#T
O$ !5$01$;*P$0J0#."$#0/$05,/$.#/0#/$1$.&,-#"$#,#+$
$ I.#(#%&'#%#0"#$%#"+
O$ !5$01$P+;$0J0#."$#0/$%5%5$.#/0#/$%E$0J,1"$.#/'/#$$
$ 75'5$0"#(#'10"+$I.#(#%&'#%#0"#$%#"+
O$ I.#(##0/'"#$J,1"$.#/0#,-#$75'5$0"#(#'10")6*P$ P+B$ $
<*P$ $ P4$ $ *+*$ $ 4+9
3.$=&)0),)4'2)$'$,.$&)4,)4$#5'2)
G1$'#/7#7#0#,-#$7&0#"$0J,1"$.1$#'#0#("$"$01$&(5,-#$("$01$08./'#$"$01$$
.#/0#,-#$&2"'#+
R1(#/$,-&$:1.1,-#$5$01$75'5$0"#(#'10"$(50#.")
O$ I.#(##0/'"#$01$.#/'/#$5$01$75'5$0"#(#'10"
O$ G1$#.#$01$05./$.#/0#/$1$.&,-#"$#,#T
O$ !5$01$;*P$0J0#."$#0/$05,/$.#/0#/$1$.&,-#"$#,#+$
$ I.#(#%&'#%#0"#$%#"+
O$ !5$01$P+;$0J0#."$#0/$%5%5$.#/0#/$%E$0J,1"$.#/'/#$$
$ 75'5$0"#(#'10"+$I.#(#%&'#%#0"#$%#"+
O$ I.#(##0/'"#$J,1"$.#/0#,-#$75'5$0"#(#'10")6*P$ P+B$ $
<*P$ $ P4$ $ *+*$ $ 4+9
O$ V&0#("."#$%&"$0J,1"$'#/7#7#0#,-#$:.#(#%&'#%#$$
$ %E$01$.#/0#,-#$&2"'#+
3.$=&)0),)4'2)$'$,.$&)4,)4$#5'2)
8.'$*)&'?$&.'$=&)0))21)21?$&.'$=)0)=&','=&','$0+2.217
3.$=&)0),)4'2)$'$,.$&)4,)4$#5'2)
8.'$*)&'?$&.'$=&)0))21)21?$&.'$=)0)=&','=&','$0+2.217
R1(#/$,-&$:1.1,-#$5$01$75'5$0"#(#'10"$(50#.")
3.$=&)0),)4'2)$'$,.$&)4,)4$#5'2)
8.'$*)&'?$&.'$=&)0))21)21?$&.'$=)0)=&','=&','$0+2.217
R1(#/$,-&$:1.1,-#$5$01$75'5$0"#(#'10"$(50#.")
O$ G1$#.#$,-&$.#/0#,-#$&2"'#$(1"$"#$0#.#$5$01$*9 5$01$75'5$0"#(#'10"T
O$ G1$#.#$,-&$.#/0#,-#$&2"'#$(1"$"#$0#.#$5$01$69 5$01$75'5$0"#(#'10"T
3.$=&)0),)4'2)$'$,.$&)4,)4$#5'2)
8.'$*)&'?$&.'$=&)0))21)21?$&.'$=)0)=&','=&','$0+2.217
R1(#/$,-&$:1.1,-#$5$01$75'5$0"#(#'10"$(50#.")
O$ G1$#.#$,-&$.#/0#,-#$&2"'#$(1"$"#$0#.#$5$01$*9 5$01$75'5$0"#(#'10"T
O$ G1$#.#$,-&$.#/0#,-#$&2"'#$(1"$"#$0#.#$5$01$69 5$01$75'5$0"#(#'10"T
O$ R/."#$.1$7"("0"#$.1"$:.#(#%&'#%#+$
$0 0.25 0.5 0.75 1.0
0.2 0.3 0.7 0.8
3.$=&)0),)4'2)$'$,.$&)4,)4$#5'2)
8.'$*)&'?$&.'$=&)0))21)21?$&.'$=)0)=&','=&','$0+2.217
R1(#/$,-&$:1.1,-#$5$01$75'5$0"#(#'10"$(50#.")
O$ G1$#.#$,-&$.#/0#,-#$&2"'#$(1"$"#$0#.#$5$01$*9 5$01$75'5$0"#(#'10"T
O$ G1$#.#$,-&$.#/0#,-#$&2"'#$(1"$"#$0#.#$5$01$69 5$01$75'5$0"#(#'10"T
O$ R/."#$.1$7"("0"#$.1"$:.#(#%&'#%#+$
$
O$ G1$#.#$01$.#/0#,-#$&2"'#$1$7&0#0#$#,#$("$01$(50#."$75'5$0"#(#'10"T
0 0.25 0.5 0.75 1.0
0.2 0.3 0.7 0.8
3.$=&)0),)4'2)$'$,.$&)4,)4$#5'2)
8.'$*)&'?$&.'$=&)0))21)21?$&.'$=)0)=&','=&','$0+2.217
R1(#/$,-&$:1.1,-#$5$01$75'5$0"#(#'10"$(50#.")
O$ G1$#.#$,-&$.#/0#,-#$&2"'#$(1"$"#$0#.#$5$01$*9 $5$01$75'5$0"#(#'10"T
O$ G1$#.#$,-&$.#/0#,-#$&2"'#$(1"$"#$0#.#$5$01$ 69 $5$01$75'5$0"#(#'10"T
O$ R/."#$.1$7"("0"#$.1"$:.#(#%&'#%#+$
$
O$ G1$#.#$01$.#/0#,-#$&2"'#$1$7&0#0#$#,#$("$01$(50#."$75'5$0"#(#'10"T
O$ G1$#.#$01$.#/0#,-#$&2"'#$1$7&0#0#$#,#$("$01$(5'1T
0 0.25 0.5 0.75 1.0
0.2 0.3 0.7 0.8
3.$=&)0),)4$,),)$'$,.$,)4$#5'2)
R/."#$.1$'&'#,-"$./#7#1$("$01$717#$=(1"$#$(51$01$:."'":."'"$"$01$'5#$5$01$'&'#,-"H$
1,-#'"$(#/#$1$",1#A+
O$ I.#(#0#/$0#0#$"$01$P+9$5$01$'&'#,-"$%#"$"$0E,#$7"05$%#/DH$(#$0/."$#"$"$0J0#."$
$ 'D71(#$:.1'5+$I.#(#%&'#%#0"#$%#"$0E$:.#(#0#/$0#0#$"$01$P+9+
$
R/."#$.1$'&'#,-"$./#7#1$("$01$717#$=(1"$#$(51$01$:."'":."'"$"$01$'5#$5$01$'&'#,-"H$
1,-#'"$(#/#$1$",1#A+
O$ I.#(#0#/$0#0#$"$01$P+9$5$01$'&'#,-"$%#"$"$0E,#$7"05$%#/DH$(#$0/."$#"$"$0J0#."$
$ 'D71(#$:.1'5+$I.#(#%&'#%#0"#$%#"$0E$:.#(#0#/$0#0#$"$01$P+9+
$ $ G1$"0"$#(1$"$01$P+;H$1,-#'"$1$7&0#0#$#,#+
× ×
0.5 ( )
0.4 (whakatau tata)
12
3.$=&)0),)4$,),)$'$,.$,)4$#5'2)
R/."#$.1$'&'#,-"$./#7#1$("$01$717#$=(1"$#$(51$01$:."'":."'"$"$01$'5#$5$01$'&'#,-"H$
1,-#'"$(#/#$1$",1#A+
O$ I.#(#0#/$0#0#$"$01$P+9$5$01$'&'#,-"$%#"$"$0E,#$7"05$%#/DH$(#$0/."$#"$"$0J0#."$
$ 'D71(#$:.1'5+$I.#(#%&'#%#0"#$%#"$0E$:.#(#0#/$0#0#$"$01$P+9+
$ $ G1$"0"$#(1$"$01$P+;H$1,-#'"$1$7&0#0#$#,#+
O$ I.#(#0#/$0#0#$"$01$P+<$5$01$'&'#,-"$%#"$"$0E,#$7"05$%#/DH$(#$0/."$#"$"$0J0#."
$ 'D71(#$(E:.#"+$I.#(#%&'#%#0"#$%#"+
× ×
0.5 ( )
0.4 (whakatau tata)
12
3.$=&)0),)4$,),)$'$,.$,)4$#5'2)
R/."#$.1$'&'#,-"$./#7#1$("$01$717#$=(1"$#$(51$01$:."'":."'"$"$01$'5#$5$01$'&'#,-"H$
1,-#'"$(#/#$1$",1#A+
O$ I.#(#0#/$0#0#$"$01$P+9$5$01$'&'#,-"$%#"$"$0E,#$7"05$%#/DH$(#$0/."$#"$"$0J0#."$
$ 'D71(#$:.1'5+$I.#(#%&'#%#0"#$%#"$0E$:.#(#0#/$0#0#$"$01$P+9+
$ $ G1$"0"$#(1$"$01$P+;H$1,-#'"$1$7&0#0#$#,#+
O$ I.#(#0#/$0#0#$"$01$P+<$5$01$'&'#,-"$%#"$"$0E,#$7"05$%#/DH$(#$0/."$#"$"$0J0#."
$ 'D71(#$(E:.#"+$I.#(#%&'#%#0"#$%#"+
$ $ G1$,/"$#(1$"$01$P+;H$1,-#'"$1$7&0#0#$#,#+
× ×
0.5 ( )
0.4 (whakatau tata)
12
× ×
0.5 ( )
0.6 (whakatau tata)
12
3.$=&)0),)4$,),)$'$,.$,)4$#5'2)
R/."#$.1$'&'#,-"$./#7#1$("$01$717#$=(1"$#$(51$01$:."'":."'"$"$01$'5#$5$01$'&'#,-"H$
1,-#'"$(#/#$1$",1#A+
O$ I.#(#0#/$0#0#$"$01$P+C$5$01$'&'#,-"$%#"$"$0E,#$7"05$%#/DH$(#$0/."$#"$"$0J0#."$$
$ 'D71(#$(#./'#,-"+$I.#(#%&'#%#0"#$%#"+
$
3.$=&)0),)4$,),)$'$,.$,)4$#5'2)
R/."#$.1$'&'#,-"$./#7#1$("$01$717#$=(1"$#$(51$01$:."'":."'"$"$01$'5#$5$01$'&'#,-"H$
1,-#'"$(#/#$1$",1#A+
O$ I.#(#0#/$0#0#$"$01$P+C$5$01$'&'#,-"$%#"$"$0E,#$7"05$%#/DH$(#$0/."$#"$"$0J0#."$$
$ 'D71(#$(#./'#,-"+$I.#(#%&'#%#0"#$%#"+
$ $ G1$7#(/$,/"$#(1$"$01$P+B;H$#'&H$01$05'/$.#/:.&+
× ×
0.5 ( )
0.8 (whakatau tata)
12 0.75 ( )34
3.$=&)0),)4$,),)$'$,.$,)4$#5'2)
R/."#$.1$'&'#,-"$./#7#1$("$01$717#$=(1"$#$(51$01$:."'":."'"$"$01$'5#$5$01$'&'#,-"H$
1,-#'"$(#/#$1$",1#A+
O$ I.#(#0#/$0#0#$"$01$P+C$5$01$'&'#,-"$%#"$"$0E,#$7"05$%#/DH$(#$0/."$#"$"$0J0#."$$
$ 'D71(#$(#./'#,-"+$I.#(#%&'#%#0"#$%#"+
$ $ G1$7#(/$,/"$#(1$"$01$P+B;H$#'&H$01$05'/$.#/:.&+
O$ R/."#$.1$'&'#,-"$./#7#1$("$'#'5$".5H$("#$*+;$01$'5#$#(1$"$01$'5#$5$01$'&'#,-"$$ $ $ $ $
$ 0/#0#."+$I.#(#%&'#%#0"#$%#"+
× ×
0.5 ( )
0.8 (whakatau tata)
12 0.75 ( )34
3.$=&)0),)4$,),)$'$,.$,)4$#5'2)
R/."#$.1$'&'#,-"$./#7#1$("$01$717#$=(1"$#$(51$01$:."'":."'"$"$01$'5#$5$01$'&'#,-"H$
1,-#'"$(#/#$1$",1#A+
O$ I.#(#0#/$0#0#$"$01$P+C$5$01$'&'#,-"$%#"$"$0E,#$7"05$%#/DH$(#$0/."$#"$"$0J0#."$$
$ 'D71(#$(#./'#,-"+$I.#(#%&'#%#0"#$%#"+
$ $ G1$7#(/$,/"$#(1$"$01$P+B;H$#'&H$01$05'/$.#/:.&+
O$ R/."#$.1$'&'#,-"$./#7#1$("$'#'5$".5H$("#$*+;$01$'5#$#(1$"$01$'5#$5$01$'&'#,-"$$ $ $ $ $
$ 0/#0#."+$I.#(#%&'#%#0"#$%#"+
$ $ R&7"'"#$01$.#/'/#$5$01$'&'#,-"$("$01$(#05#$'&'#,-"+
× ×
0.5 ( )
0.8 (whakatau tata)
12 0.75 ( )34
3.$=&)0),)4$,),)$'$,.$,)4$#5'2)
R/."#$.1$'&'#,-"$./#7#1$("$01$717#$=(1"$#$(51$01$:."'":."'"$"$01$'5#$5$01$'&'#,-"H$
1,-#'"$(#/#$1$",1#A+
O$ I.#(#0#/$0#0#$"$01$P+C$5$01$'&'#,-"$%#"$"$0E,#$7"05$%#/DH$(#$0/."$#"$"$0J0#."$$
$ 'D71(#$(#./'#,-"+$I.#(#%&'#%#0"#$%#"+
$ $ G1$7#(/$,/"$#(1$"$01$P+B;H$#'&H$01$05'/$.#/:.&+
O$ R/."#$.1$'&'#,-"$./#7#1$("$'#'5$".5H$("#$*+;$01$'5#$#(1$"$01$'5#$5$01$'&'#,-"$$ $ $ $ $
$ 0/#0#."+$I.#(#%&'#%#0"#$%#"+
$ $ R&7"'"#$01$.#/'/#$5$01$'&'#,-"$("$01$(#05#$'&'#,-"+
8.'$=&)0))21)217
G1$#.#$01$./#$5$0J,1"$%#."$01$:.#(#0#/$0#0#$"$01$'#."$5$0J0#."$.#/0#,-#$&2"'#T
× ×
0.5 ( )
0.8 (whakatau tata)
12 0.75 ( )34
3.$=&)0),)4$,),)$'$,.$,)4$#5'2)
G1$0#/"'#$#,E$0J,1"$5$0J0#."$%#."$:.#(#0#/$0#0#$"$01$.#/0#,-#$&2"'#$$
5$0J0#."$'5#)
3.$=&)0),)4'2)$'$,.$,)4$#5'2)
G1$0#/"'#$#,E$0J,1"$5$0J0#."$%#."$:.#(#0#/$0#0#$"$01$.#/0#,-#$&2"'#$$
5$0J0#."$'5#)
R"'5."#$01$%#.1'1$5$R1$W(#$#$V#/D
O$ G1$#.#$0J0#."$0&5,1$(1"$01$0#(":&$5$01$P+4$$
$ 5$01$.#1'1,-#$%#"$"$X#7#"51#$("$K./'"'"+$$
$ I.#(#%&'#%#0"#$%#"+
3.$=&)0),)4'2)$'$,.$,)4$#5'2)
3.$=&)0),)4'2)$'$,.$,)4$#5'2)
G1$0#/"'#$#,E$0J,1"$5$0J0#."$%#."$:.#(#0#/$0#0#$"$01$.#/0#,-#$&2"'#$$
5$0J0#."$'5#)
R"'5."#$01$%#.1'1$5$R1$W(#$#$V#/D
O$ G1$#.#$0J0#."$0&5,1$(1"$01$0#(":&$5$01$P+4$$
$ 5$01$.#1'1,-#$%#"$"$X#7#"51#$("$K./'"'"+$$
$ I.#(#%&'#%#0"#$%#"+
O$ F$0#'#":#$#,#$(51$%#"$"$R&%#("%#(#/'#/$$
$ ("$R1$I.#,-#,/"2#2R#'#+$W,#$0#/$#0/$(51$("$$
$ !"'"("'"'5#H$.1$#.#$01$.#/0#,-#$&2"'#$5$01$$
$ .#1'1,-#$(/#$50"T$I.#(#%&'#%#0"#$%#"+ Te Whanganui-a-Tara
Tāmakimakaurau
Kaitāia KerikeriPaihia
WhangāreiDargaville
ThamesPaeroa
ŌtorohangaTokoroa
TaurangaTe Puke
Rotorua
TaupōNgāmotu Tūrangi
Tūranganui-a-Kiwa
Woodville
WaiouruHāwera
Whanganui
Paraparaumu
A E H I K M N Ng O P R
1
2
3
4
5
6
7
8
9
10
11
12
13
14
raki
tonga
uru rāwhiti
Papaioea
Kirikiriroa
Ahuriri
Ōpōtiki
Te Oreore
āwhata: 1cm = 100km
3.$=&)0),)4'2)$'$,.$,)4$#5'2)
!/#$50"$0J0#."$'#/7#7#0#,-#$:.#(##(5$"$01$.#/0#,-#$&2"'#$$
5$0J0#."$'5#$=("#$*$01$%#0"$&2"'#A+
3.$=&)0),)4'2)$'$,.$,)4$#5'2)
!/#$50"$0J0#."$'#/7#7#0#,-#$:.#(##(5$"$01$.#/0#,-#$&2"'#$$
5$0J0#."$'5#$=("#$*$01$%#0"$&2"'#A+
8.'$=&)0))21)217
G1$#.#$,-&$.D(5"$%#0/#T
8.$2)4;);),)(")$=&)0))01$*+$,.$,)4$#5'2)
*+$ R1$:.#(#%#."$'#/1%"$.1"$08.5,5$("$01$.#/0#/$,5#$=.1$%&0#/'#,-#$1$$
$ %E."50"#$#,#$L$#'&$ *4 $Q$;*P$Q$P+;A+$!5$01$%1#$,/"$("#$%&'#%#$.1$#.#$
$ 01$$%1#$080#."+
8.$2)4;);),)(")$=&)0))01$*+$,.$,)4$#5'2)
*+$ R1$:.#(#%#."$'#/1%"$.1"$08.5,5$("$01$.#/0#/$,5#$=.1$%&0#/'#,-#$1$$
$ %E."50"#$#,#$L$#'&$ *4 $Q$;*P$Q$P+;A+$!5$01$%1#$,/"$("#$%&'#%#$.1$#.#$
$ 01$$%1#$080#."+
4+$ R1$:.#(#:.&,/"H$%#"$"$01$P+;$("$J0#."$#0/$.#/0#,-#$&2"'#$=*$01$$
$ %#0"2&2"'#AH$%1$01$:#".5$%&$01$&(5,-#$05,/$1$.#,-#$0E,#$#(1$$ $ $
$ %&'#%#0#,-#+
8.$2)4;);),)(")$=&)0))01$*+$,.$,)4$#5'2)
*+$ R1$:.#(#%#."$'#/1%"$.1"$08.5,5$("$01$.#/0#/$,5#$=.1$%&0#/'#,-#$1$$
$ %E."50"#$#,#$L$#'&$ *4 $Q$;*P$Q$P+;A+$!5$01$%1#$,/"$("#$%&'#%#$.1$#.#$
$ 01$$%1#$080#."+
4+$ R1$:.#(#:.&,/"H$%#"$"$01$P+;$("$J0#."$#0/$.#/0#,-#$&2"'#$=*$01$$
$ %#0"2&2"'#AH$%1$01$:#".5$%&$01$&(5,-#$05,/$1$.#,-#$0E,#$#(1$$ $ $
$ %&'#%#0#,-#+
6+$ R1$08.5,5$"$01$.#/0#,-#$&2"'#$("$01$ *9 $%1$01$69 $
8.$2)4;);),)(")$=&)0))01$*+$,.$,)4$#5'2)
*+$ R1$:.#(#%#."$'#/1%"$.1"$08.5,5$("$01$.#/0#/$,5#$=.1$%&0#/'#,-#$1$$
$ %E."50"#$#,#$L$#'&$ *4 $Q$;*P$Q$P+;A+$!5$01$%1#$,/"$("#$%&'#%#$.1$#.#$
$ 01$$%1#$080#."+
4+$ R1$:.#(#:.&,/"H$%#"$"$01$P+;$("$J0#."$#0/$.#/0#,-#$&2"'#$=*$01$$
$ %#0"2&2"'#AH$%1$01$:#".5$%&$01$&(5,-#$05,/$1$.#,-#$0E,#$#(1$$ $ $
$ %&'#%#0#,-#+
6+$ R1$08.5,5$"$01$.#/0#,-#$&2"'#$("$01$ *9 $%1$01$69 $
9+$ R1$:.#(#:.&,/"$#(1$("$01$0#/$&2"'#$.1$,/"$#(1$"$01$*+
8.$2)4;);),)(")$=&)0))01$*+$,.$,)4$#5'2)
*+$ R1$:.#(#%#."$'#/1%"$.1"$08.5,5$("$01$.#/0#/$,5#$=.1$%&0#/'#,-#$1$$
$ %E."50"#$#,#$L$#'&$ *4 $Q$;*P$Q$P+;A+$!5$01$%1#$,/"$("#$%&'#%#$.1$#.#$
$ 01$$%1#$080#."+
4+$ R1$:.#(#:.&,/"H$%#"$"$01$P+;$("$J0#."$#0/$.#/0#,-#$&2"'#$=*$01$$
$ %#0"2&2"'#AH$%1$01$:#".5$%&$01$&(5,-#$05,/$1$.#,-#$0E,#$#(1$$ $ $
$ %&'#%#0#,-#+
6+$ R1$08.5,5$"$01$.#/0#,-#$&2"'#$("$01$ *9 $%1$01$69 $
9+$ R1$:.#(#:.&,/"$#(1$("$01$0#/$&2"'#$.1$,/"$#(1$"$01$*+
;+$ R1$:.#(#:.&,/"$#(1$("$J0#."$#0/$:.#(##./#.#,-#$=.1$'&'#,-"H$.1$$ $
$ 0#:."0"$"$01$%#.1'1A
8.$2)4;);),)(")$=&)0))01$*+$,.$,)4$#5'2)
*+$ R1$:.#(#%#."$'#/1%"$.1"$08.5,5$("$01$.#/0#/$,5#$=.1$%&0#/'#,-#$1$$
$ %E."50"#$#,#$L$#'&$ *4 $Q$;*P$Q$P+;A+$!5$01$%1#$,/"$("#$%&'#%#$.1$#.#$
$ 01$$%1#$080#."+
4+$ R1$:.#(#:.&,/"H$%#"$"$01$P+;$("$J0#."$#0/$.#/0#,-#$&2"'#$=*$01$$
$ %#0"2&2"'#AH$%1$01$:#".5$%&$01$&(5,-#$05,/$1$.#,-#$0E,#$#(1$$ $ $
$ %&'#%#0#,-#+
6+$ R1$08.5,5$"$01$.#/0#,-#$&2"'#$("$01$ *9 $%1$01$69 $
9+$ R1$:.#(#:.&,/"$#(1$("$01$0#/$&2"'#$.1$,/"$#(1$"$01$*+
;+$ R1$:.#(#:.&,/"$#(1$("$J0#."$#0/$:.#(##./#.#,-#$=.1$'&'#,-"H$.1$$ $
$ 0#:."0"$"$01$%#.1'1A
<+$ R1$:.#(#0#/$0#0#$"$01$.#/0#,-#$&2"'#+
3.$=&)0))01$'$,.$&)4,)4$#5'2)
8.'$*)&'7
V1$%#."$0#."$(E'/#$(5$0J0#."$.5#)
3.$=&)0))01$'$,.$&)4,)4$#5'2)
8.'$*)&'7
V1$%#."$0#."$(E'/#$(5$0J0#."$.5#)
R8./'#,-"#$J0#."$'#/1%"$.1"$:.#(##(5
"$,-&$.#/0#,-#$&2"'#$1$:.#"$:&."$%#"$
#,#$01$.#/'#/$=("#$4$,-&$%#0"2&2"'#A+$
G1"$0#/"'#)
*+$$R1$75'5:."0#$:.#(##0/$.#/'#/
$ R1$'#/1%"$0&'/#$B2<$5$R1$X5/0#%#$
$ R#/$=.007)UU:::+,Y%#0.Z+[5+,YA
3.$=&)0))01$'$,.$&)4,)4$#5'2)
8.'$*)&'7
V1$%#."$0#."$(E'/#$(5$0J0#."$.5#)
R8./'#,-"#$J0#."$'#/1%"$.1"$:.#(##(5$"$,-&$.#/0#,-#$&2"'#$1$:.#"$
:&."$%#"$#,#$01$.#/'#/$=("#$4$,-&$%#0"2&2"'#A+$G1"$0#/"'#)
4+$$ R1$'&'#,-"$.#/'#/
$ R1$'#/1%"$0&'/#$B29$5$R1$X5/0#%#$R#/$=.007)UU:::+,Y%#0.Z+[5+,YA
3.$=&)0))01$'$,.$&)4,)4$#5'2)
8.'$*)&'7
V1$%#."$0#."$(E'/#$(5$0J0#."$.5#)
R8./'#,-"#$J0#."$'#/1%"$.1"$:.#(##(5$"$,-&$.#/0#,-#$&2"'#$1$:.#"$
:&."$%#"$#,#$01$.#/'#/$=("#$4$,-&$%#0"2&2"'#A+$G1"$0#/"'#)
6+$ R1$:.#'1$/#'#$08
$
3.$=&)0))01$'$,.$&)4,)4$#5'2)
8.'$*)&'7
V1$%#."$0#."$(E'/#$(5$0J0#."$.5#)
R8./'#,-"#$J0#."$'#/1%"$.1"$:.#(##(5$"$,-&$.#/0#,-#$&2"'#$1$:.#"$
:&."$%#"$#,#$01$.#/'#/$=("#$4$,-&$%#0"2&2"'#A+$G1"$0#/"'#)
9+$ R1$7#7#$.#/0#,-#$&2"'#
$ R1$'#/1%"$0&'/#$B26$5$R1$X5/0#%#$R#/
$ =.007)UU:::+,Y%#0.Z+[5+,YA
3.$,#;'2'$*.$,.$,)("1$&)4,)4$#5'2)
F$.&,-#"$05,/$#,#$,-&$'#/0#("$%E$01$0&7"'"$%1$01$0#,-5$0#/50"$$
("$01$0&7"'"$%1$01$0#,-5$.#/0#,-#$&2"'#+
3.$,#;'2'$*.$,.$,)("1$&)4,)4$#5'2)
F$.&,-#"$05,/$#,#$,-&$'#/0#("$%E$01$0&7"'"$%1$01$0#,-5$0#/50"$$
("$01$0&7"'"$%1$01$0#,-5$.#/0#,-#$&2"'#+
R1$0#0#/$#(1$"$01$0#/$,/"+$G1"$0#/"'#)$P+9$>$P+B
0 .1 .2 .3 .4 .5 .6 .7 .8 .9 1.0 1.1 1.2 1.3 1.4 1.5
3.$,#;'2'$*.$,.$,)("1$&)4,)4$#5'2)
F$.&,-#"$05,/$#,#$,-&$'#/0#("$%E$01$0&7"'"$%1$01$0#,-5$0#/50"$$
("$01$0&7"'"$%1$01$0#,-5$.#/0#,-#$&2"'#+
3.$,#;'2'$*.$,.$,)("1$&)4,)4$#5'2)
F$.&,-#"$05,/$#,#$,-&$'#/0#("$%E$01$0&7"'"$%1$01$0#,-5$0#/50"$$
("$01$0&7"'"$%1$01$0#,-5$.#/0#,-#$&2"'#+
R1$%1(#$%E."5$%1$01$0"(#,-#$7#'1%#0#H$G1"$0#/"'#)
4+<$>$4+B$Q$4+;$>$4+;$>$P+*$>$P+4
$ Q$;+P$>$P+6
$ Q$;+6
0 2.5 5.0
5.1
5.3
+2.5 +2.5
+.1 +.2
3.$,#;'2'$*.$,.$,)("1$&)4,)4$#5'2)
F$.&,-#"$05,/$#,#$,-&$'#/0#("$%E$01$0&7"'"$%1$01$0#,-5$0#/50"$$
("$01$0&7"'"$%1$01$0#,-5$.#/0#,-#$&2"'#+
!"#$%&'('#)"#$"#$*+,-#.*/$*/#%0'(*
!"#$%&'(")*%+"'%'"%&$",'+)'-("./")0")$1(,(".0")0")'%&*")'+*)(""
-(")0")$1(,(".0")0")'%&*"#'+)'%&'"$2(,'3
40".$.$".0")0")(-'%&'"1',0.')'5"60(")'+(,'7
839:";"83<=">"839:";"83?"@"838?
" " >"83<:"@"838?
" " >"83<=
0.24 0.27 5.0
–0.3
+0.03
3.$,#;'2'$*.$,.$,)("1$&)4,)4$#5'2)
I.#(##'5."#$0J0#."$0#/"'#$5$01$'#/0#("$\:&:&."$/#'#$08]$.1"$
0&7"'"$"$J0#."$0#/$&2"'#+
3.$,#;'2'$*.$,.$,)("1$&)4,)4$#5'2)
I.#(##'5."#$0J0#."$0#/"'#$5$01$'#/0#("$\:&:&."$/#'#$08]$.1"$
0&7"'"$"$J0#."$0#/$&2"'#+
G1"$0#/"'#)
P+;9$>$P+4B$Q$P+;$>$P+4$>$P+P9$>$P+PB
$ $ Q$P+B$>$P+**
$ $ Q$P+C*
0 0.5 0.7 0.74 0.81
+0.5 +0.2 +0.04 +0.07
3.$,#;'2'$*.$,.$,)("1$&)4,)4$#5'2)
8.'$*)&'7
I.#(##'5."#$0J0#."$0#/"'#$5$01$'#/0#("$\0#7"'"0#,-#$E'"01]$.1"$
0#,-5$"$J0#."$0#/$&2"'#+
3.$,#;'2'$*.$,.$,)("1$&)4,)4$#5'2)
8.'$*)&'7
I.#(##'5."#$0J0#."$0#/"'#$5$01$'#/0#("$\0#7"'"0#,-#$E'"01]$.1"$
0#,-5$"$J0#."$0#/$&2"'#+
G1"$0#/"'#)
<+6$L$6+C$Q$<+;$L$9+P
$ Q$4+;
6.3 6.5
–3.8
+0.2
+0.2
–4.0
3.$,#;'2'$*.$,.$,)("1$&)4,)4$#5'2)
8.'$*)&'7
I.#(##'5."#$0J0#."$0#/"'#$5$01$'#/0#("$\7#.1(5$(E#'5]$.1"$0#,-5$
"$J0#."$0#/$&2"'#+
3.$,#;'2'$*.$,.$,)("1$&)4,)4$#5'2)
8.'$*)&'7
I.#(##'5."#$0J0#."$0#/"'#$5$01$'#/0#("$\7#.1(5$(E#'5]$.1"$0#,-5$
"$J0#."$0#/$&2"'#+
G1"$0#/"'#)
<+6$L$6+C$^$6+C$>$ Q$<+6
$ 6+C$>$P+4$>$4+6$Q$<+6
$ 6+C$>$I>J$Q$<+6
SE$'1"'#$$ <+6$L$6+C$Q$4+;
3.8 4.0 6.3
+0.2
+2.3
3.$,#;'2'$*.$,.$,)("1$&)4,)4$#5'2)
I.#(##0/'"#$,-&$:.#(#'1#0#,-#$,1"$("$0J0#."$'#/1%"$/#'#$
08$&2"'#)
P+9$M$6$ P+<$M$9$ P+6$M$B$ P+;$M$*+4$
3.$,#;'2'$*.$,.$,)("1$&)4,)4$#5'2)
I.#(##0/'"#$,-&$:.#(#'1#0#,-#$,1"$("$0J0#."$'#/1%"$/#'#$
08$&2"'#)
P+9$M$6$ P+<$M$9$ P+6$M$B$ P+;$M$*+4$
8.'$=&)0))21)217
V1$7J.1#$01$08.5,5$"$,-&$:.#(#'1#0#,-#$("$,-&$%1(#$
%#0/#T
3.$,#;'2'$*.$,.$,)("1$&)4,)4$#5'2)
I.#(##0/'"#$,-&$:.#(#'1#0#,-#$,1"$("$0J0#."$'#/1%"$/#'#$
08$&2"'#)
P+9$M$6$ P+<$M$9$ P+6$M$B$ P+;$M$*+4$
8.'$=&)0))21)217
V1$7J.1#$01$08.5,5$"$,-&$:.#(#'1#0#,-#$("$,-&$%1(#$
%#0/#T
!5$01$%#."$%#0/#H$(5$01$:.#(#%#."$"$01$#'5&$.#/0#,-#$&2"'#$
.1"$:.#(#0#/$0#0#+$G1"$0#/"'#)
P+9$M$6$=1$7&0#0#$#,#$("$01$P+;$M$6H$1,-#'"$.1$7#(/$"0"$#(1A
8.'$=&)0)*4,4(")78.$("1&.$0+,4',4'$.$=&)'$=#&'$*)'$)()$,.$&)4,)4$#5'2)
8.'$=&)0)*4,4(")78.$("1&.$0+,4',4'$.$=&)'$=#&'$*)'$)()$,.$&)4,)4$#5'2)
G1$7#,#,#H$.1$&'#,"H$.1$,10#'D,"H$.1$&75'5$(1"$'505$"$01$'5/'5/+O$ P+4;$5$,-&$./#'&(#/$.1$7#,#,#+O$ P+*;$.1$&'#,"O$ P+4$.1$,10#'D,"+O$ F$C$,-&$&75'5+
8.'$=&)0)*4,4(")78.$("1&.$0+,4',4'$.$=&)'$=#&'$*)'$)()$,.$&)4,)4$#5'2)
G1$7#,#,#H$.1$&'#,"H$.1$,10#'D,"H$.1$&75'5$(1"$'505$"$01$'5/'5/+O$ P+4;$5$,-&$./#'&(#/$.1$7#,#,#+O$ P+*;$.1$&'#,"O$ P+4$.1$,10#'D,"+O$ F$C$,-&$&75'5+
*+$ G1$#.#$01$.#/0#,-#$&2"'#$5$,-&$&75'5T4+$ F$."#$,-&$7#,#,#T6+$ F$."#$,-&$&'#,"T9+$ F$."#$,-&$,10#'D,"T;+$ F$9$,-&$7#,#,#H$(50#."$01$,10#'D,"H$1$;$,-&$&75'5$(#$(#",-#$$$ 1$,-&$0#%#'"("+$G1$#.#$01$.#/0#,-#$&2"'#$5$,-&$&75'5$5$'505$$$ "$,-&$./#'&(#/$1$051$%#"$#,#T
G1$7#,#,#H$.1$&'#,"H$.1$,10#'D,"H$.1$&75'5$(1"$'505$"$01$'5/'5/+O$ P+4;$5$,-&$./#'&(#/$.1$7#,#,#+O$ P+*;$.1$&'#,"O$ P+4$.1$,10#'D,"+O$ F$C$,-&$&75'5+
*+$ G1$#.#$01$.#/0#,-#$&2"'#$5$,-&$&75'5T
3)4'2)$=&)0)4,47
8.'$=&)0)*4,4(")78.$("1&.$0+,4',4'$.$=&)'$=#&'$*)'$)()$,.$&)4,)4$#5'2)
8.'$=&)0)*4,4(")78.$("1&.$0+,4',4'$.$=&)'$=#&'$*)'$)()$,.$&)4,)4$#5'2)
G1$7#,#,#H$.1$&'#,"H$.1$,10#'D,"H$.1$&75'5$(1"$'505$"$01$'5/'5/+O$ P+4;$5$,-&$./#'&(#/$.1$7#,#,#+O$ P+*;$.1$&'#,"O$ P+4$.1$,10#'D,"+O$ F$C$,-&$&75'5+
*+$ G1$#.#$01$.#/0#,-#$&2"'#$5$,-&$&75'5T
3)4'2)$=&)0)4,47
G/"$(#05#$,-&$7#,#,#H$,-&$,10#'D,"$%1$,-&$&75'5)
P+4;$>$P+*;$>$P+4$Q$P+<$5$,-&$./#'&(#/+$
SE$'1"'#$(5$01$P+9$01$.#/0#,-#$5$,-&$&75'5+
8.'$=&)0)*4,4(")78.$("1&.$0+,4',4'$.$=&)'$=#&'$*)'$)()$,.$&)4,)4$#5'2)
G1$7#,#,#H$.1$&'#,"H$.1$,10#'D,"H$.1$&75'5$(1"$'505$"$01$'5/'5/+O$ P+4;$5$,-&$./#'&(#/$.1$7#,#,#+O$ P+*;$.1$&'#,"O$ P+4$.1$,10#'D,"+O$ F$C$,-&$&75'5+
4+$ F$."#$,-&$7#,#,#T
3)4'2)$=&)0)4,47
8.'$=&)0)*4,4(")78.$("1&.$0+,4',4'$.$=&)'$=#&'$*)'$)()$,.$&)4,)4$#5'2)
G1$7#,#,#H$.1$&'#,"H$.1$,10#'D,"H$.1$&75'5$(1"$'505$"$01$'5/'5/+O$ P+4;$5$,-&$./#'&(#/$.1$7#,#,#+O$ P+*;$.1$&'#,"O$ P+4$.1$,10#'D,"+O$ F$C$,-&$&75'5+
4+$ F$."#$,-&$7#,#,#T
3)4'2)$=&)0)4,47F$C$,-&$&75'5H$.1$'"01$0J'&$("$01$P+9+$!5$01$P+4;$5$01$4P$Q$;$=,-&$7#,#,#A
&)4,)(") &4)2#0)4
P+9 C
P+* 4
*+P 4P
8.'$=&)0)*4,4(")78.$("1&.$0+,4',4'$.$=&)'$=#&'$*)'$)()$,.$&)4,)4$#5'2)
G1$7#,#,#H$.1$&'#,"H$.1$,10#'D,"H$.1$&75'5$(1"$'505$"$01$'5/'5/+O$ P+4;$5$,-&$./#'&(#/$.1$7#,#,#+O$ P+*;$.1$&'#,"O$ P+4$.1$,10#'D,"+O$ F$C$,-&$&75'5+
6+$ F$."#$,-&$&'#,"T
3)4'2)$=&)0)4,47
8.'$=&)0)*4,4(")78.$("1&.$0+,4',4'$.$=&)'$=#&'$*)'$)()$,.$&)4,)4$#5'2)
G1$7#,#,#H$.1$&'#,"H$.1$,10#'D,"H$.1$&75'5$(1"$'505$"$01$'5/'5/+O$ P+4;$5$,-&$./#'&(#/$.1$7#,#,#+O$ P+*;$.1$&'#,"O$ P+4$.1$,10#'D,"+O$ F$C$,-&$&75'5+
6+$ F$."#$,-&$&'#,"T
3)4'2)$=&)0)4,47G1$&'#,"$01$P+*;$5$,-&$./#'&(#/$(#05#)
P+*$5$01$4P$Q$4
SE$'1"'#$P+P;$5$01$4P$Q$*
G/"$(#05#H$P+*;$5$01$4P$Q$6
SE$'1"'#$1$6$,-&$&'#,"+
8.'$=&)0)*4,4(")78.$("1&.$0+,4',4'$.$=&)'$=#&'$*)'$)()$,.$&)4,)4$#5'2)
G1$7#,#,#H$.1$&'#,"H$.1$,10#'D,"H$.1$&75'5$(1"$'505$"$01$'5/'5/+O$ P+4;$5$,-&$./#'&(#/$.1$7#,#,#+O$ P+*;$.1$&'#,"O$ P+4$.1$,10#'D,"+O$ F$C$,-&$&75'5+
9+$ F$."#$,-&$,10#'D,"T
3)4'2)$=&)0)4,47
8.'$=&)0)*4,4(")78.$("1&.$0+,4',4'$.$=&)'$=#&'$*)'$)()$,.$&)4,)4$#5'2)
G1$7#,#,#H$.1$&'#,"H$.1$,10#'D,"H$.1$&75'5$(1"$'505$"$01$'5/'5/+O$ P+4;$5$,-&$./#'&(#/$.1$7#,#,#+O$ P+*;$.1$&'#,"O$ P+4$.1$,10#'D,"+O$ F$C$,-&$&75'5+
9+$ F$."#$,-&$,10#'D,"T
3)4'2)$=&)0)4,47
G1$,10#'D,"$01$P+4$5$,-&$./#'&(#/$(#05#)
P+*$5$01$4P$Q$4
SE$'1"'#$P+4$5$01$4P$Q$9
SE$'1"'#$1$9$,-&$&'#,"+
8.'$=&)0)*4,4(")78.$("1&.$0+,4',4'$.$=&)'$=#&'$*)'$)()$,.$&)4,)4$#5'2)
;+$ F$9$,-&$7#,#,#H$(50#."$01$,10#'D,"H$1$;$,-&$&75'5$(#$(#",-#$$
1$,-&$0#%#'"("+$G1$#.#$01$.#/0#,-#$&2"'#$5$,-&$&75'5$5$'505$$
"$,-&$./#'&(#/$1$051$%#"$#,#T
3)4'2)$=&)0)4,47
8.'$=&)0)*4,4(")78.$("1&.$0+,4',4'$.$=&)'$=#&'$*)'$)()$,.$&)4,)4$#5'2)
;+$ F$9$,-&$7#,#,#H$(50#."$01$,10#'D,"H$1$;$,-&$&75'5$(#$(#",-#$$
1$,-&$0#%#'"("+$G1$#.#$01$.#/0#,-#$&2"'#$5$,-&$&75'5$5$'505$$
"$,-&$./#'&(#/$1$051$%#"$#,#T
3)4'2)$=&)0)4,47
;)()() #2)(' (.,)2@(' K;121
0D%#0#,-# ; 6 9 C
"$%/'" * 6 6 6
SE$'1"'#$*P$(#05#$,-&$./#'&(#/$1$051$#,#+$F$6$5$J,1"$.1$&75'5+$
G1$E'"01$01$6$5$'505$"$01$*P$("$01$P+6+$G1$&75'5$01$P+6$5$,-&$./#'&(#/$
1$051$#,#+
