0
登录后你可以
  • 下载海量资料
  • 学习在线课程
  • 观看技术视频
  • 写文章/发帖/加入社区
会员中心
创作中心
发布
  • 发文章

  • 发资料

  • 发帖

  • 提问

  • 发视频

创作活动
ECWF2155JAQ

ECWF2155JAQ

  • 厂商:

    NAIS(松下)

  • 封装:

  • 描述:

    Cap Film 1.5uF 250V PP 5% (18.8 X 10.5 X 22.6mm) Radial 15mm 105C Bulk

  • 数据手册
  • 价格&库存
ECWF2155JAQ 数据手册
Plastic Film Capacitors Metallized Polypropylene Film Capacitor Series : ECWF(A) Non-inductive construction using metallized polypropylene film with flame retardant epoxy resin coating. Features ● Small size frequency characteristics ● Low loss ● Low Hum Sound Noise ● Flame retardant epoxy resin coating ● 85 degree C , 85 %RH , 500 V.DC , 500 hours (630 V.DC) ● RoHS directive compliant ● Excellent Recommended applications ● 250 ● 450 V.DC, 630 V.DC : High frequency and high current circuit V.DC : Active filter circuit Explanation of part number ● 250 V.DC, 450 V.DC (Bulk) 1 2 3 4 E C W F Product code Dielectric & construction 5 6 Rated voltage 2W 9 10 11 12 Capacitance 250 V.DC 450 V.DC Cap. Tol. Suffix Suffix H ±3 % Code J ±5 % Blank Straight J ±5 % B Crimped lead K ±10 % Q Crimped lead C Cut lead Lead Form V.DC, 450 V.DC (Odd size taping) 1 2 3 4 E C W F Product code ● 630 8 A 2 ● 250 7 Dielectric & construction 5 6 7 8 9 10 11 R Rated voltage Capacitance 12 A Suffix Cap. Tol. Suffix 10 11 12 V.DC (Bulk, Odd size taping) 1 2 3 4 5 6 7 E C W F A 2 J Product code Dielectric & construction 8 9 J Rated voltage 2J 630 V.DC Capacitance J ±5 % Cap. Tol. Code Suffix Lead Form Blank Straight B Crimped lead Q Crimped lead C Cut lead 4 Odd size taping Design and specifications are each subject to change without notice. Ask factory for the current technical specifications before purchase and/or use. Should a safety concern arise regarding this product, please be sure to contact us immediately. 02 Sep. 2017 Plastic Film Capacitors Specifications Category temp. range (Including temperature-rise on unit surface) Rated voltage Capacitance range Capacitance tolerance Dissipation factor (tan d) Withstand voltage Insulation resistance (IR) – 40 °C to +105 °C 250 V.DC 450 V.DC (Derating of rated voltage by 1.25%/°C at more than 85 °C) Peak to peak voltage applied on the capacitor should be less than 240 Vp-p, and zero to peak voltage should be less than 450 Vo-p. 630 V.DC (Derating of rated voltage by 1.0%/°C at more than 85 °C) 250 V.DC 0.1 μF to 6.8 μF 450 V.DC 0.1 μF to 4.7 μF 630 V.DC 0.1 μF to 2.2 μF 250 V.DC ±3 %(H), ±5 %(J) 450 V.DC ±5 %(J), ±10 %(K) 630 V.DC ±5 %(J) tan d < 0.1 % (20 °C, 1 kHz) Between terminals : Rated volt. (V.DC)×150 %, 60 s C < 0.33 μF : IR > 9000 MΩ 250 V.DC (20 °C, 100 V.DC, 60 s) C > 0.33 μF : IR > 3000 MΩ ∙ μF C < 0.33 μF : IR > 30000 MΩ 450 V.DC (20 °C, 100 V.DC, 60 s) C > 0.33 μF : IR > 10000 MΩ ∙ μF C < 0.33 μF : IR > 9000 MΩ 630 V.DC (20 °C, 500 V.DC, 60 s) C > 0.33 μF : IR > 3000 MΩ ∙ μF ✽ In case of applying voltage in alternating current (50 Hz or 60 Hz sine wave) to a capacitor with DC rated voltage, please refer to the page of “Permissible voltage (R.M.S) in alternating current corresponding to DC rated voltage”. Dimensions Straight Crimped lead (Suffix B) Crimped lead (Suffix Q) L max. L max. Cut lead (Suffix C) 4.5±0.5 4.5±0.5 0d±0.05 Copper-wire or Copper-clad steel-wire Marking 4.5±0.5 Marking H max. H max. Marking F±1.0 25 min. G max. Marking H max. T max. L max. S±0.8 S±0.8 Type B Type D Unit : mm Packaging specifications for bulk package ● Packing quantity : 100 pcs./bag Design and specifications are each subject to change without notice. Ask factory for the current technical specifications before purchase and/or use. Should a safety concern arise regarding this product, please be sure to contact us immediately. 02 Sep. 2017 Plastic Film Capacitors Taping specifications for automatic insertion style Style E P P H1 Style D P H1 F H0 H0 F Style F P0 P0 F H0 H1 ● Taping P0 ✽ Refer to the page of taping specifications. ● Packaging ● Lead specifications Taping style Rated voltage Capacitance range Series (V.DC) (μF) AD AS B C D E F ◯ 0.10 to 0.47 250 ◯ 0.56 to 3.9 ◯ 0.10 to 0.47 ECWF(A) 450 ◯ 0.56 to 2.2 ◯ 630 0.10 to 0.68 Packing Ammo suffix R( ) A Style D E F spacing Lead spacing 7.5 mm 7.5 mm 7.5 mm J4 Rating · Dimensions · Quantity ● Rated voltage : 250 V.DC, Capacitance tolerance : ± 3 %(H), ±5 %(J) Cap. (μF) Part No. ECWF2104◻A( ECWF2124◻A( ECWF2154◻A( ECWF2184◻A( ECWF2224◻A( ECWF2274◻A( ECWF2334◻A( ECWF2394◻A( ECWF2474◻A( ECWF2564◻A( ECWF2684◻A( ECWF2824◻A( ECWF2105◻A( ECWF2125◻A( ECWF2155◻A( ECWF2185◻A( ECWF2225◻A( ECWF2275◻A( ECWF2335◻A( ECWF2395◻A( ECWF2475◻A( ECWF2565◻A( ECWF2685◻A( ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) 0.10 0.12 0.15 0.18 0.22 0.27 0.33 0.39 0.47 0.56 0.68 0.82 1.0 1.2 1.5 1.8 2.2 2.7 3.3 3.9 4.7 5.6 6.8 L max. T max. 13.0 13.0 13.0 13.0 13.0 13.0 13.0 13.0 13.0 18.1 18.1 18.1 18.1 18.8 18.8 18.8 18.8 23.8 23.8 23.8 23.8 23.8 23.8 5.0 5.3 5.6 5.9 6.3 6.8 7.3 7.8 8.4 6.9 7.4 8.0 8.5 9.5 10.5 11.4 12.6 11.4 12.5 13.5 14.8 16.2 17.8 Straight – 13.3 14.6 15.6 16.5 17.6 17.2 18.3 19.3 20.6 21.9 23.5 Dimensions (mm) H max. F S G max. Crimped lead Crimped lead Crimped lead Crimped lead Straight Straight (Suffix B) (Suffix Q) (Suffix B) (Suffix Q) 14.1 14.1 7.5 10.0 14.4 14.4 7.5 10.0 14.7 14.7 7.5 10.0 15.1 15.1 7.5 10.0 15.4 15.4 7.5 10.0 15.9 15.9 7.5 10.0 – – 16.4 16.4 7.5 10.0 16.9 16.9 7.5 10.0 17.6 17.6 7.5 10.0 16.4 18.4 7.5 15.0 17.0 19.0 7.5 15.0 17.6 19.6 7.5 15.0 18.3 20.3 15.0 7.5 15.0 1.5 19.6 21.6 15.0 7.5 15.0 1.5 20.6 22.6 15.0 7.5 15.0 1.5 21.5 23.5 15.0 7.5 15.0 1.5 22.6 24.6 15.0 7.5 15.0 1.5 22.2 24.2 20.0 12.5 20.0 1.5 23.3 25.3 20.0 12.5 20.0 1.5 24.3 26.3 20.0 12.5 20.0 1.5 25.6 27.6 20.0 12.5 20.0 1.5 26.9 28.9 20.0 12.5 20.0 1.5 28.5 30.5 20.0 12.5 20.0 1.5 Min. order Q'ty Taping Bulk fd 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 Straight · 7.5 mm Crimped lead 1300 1200 1100 1000 900 800 700 400 500 300 200 300 200 – ✽ ◻ : Capacitance tolerance code ( ) : Suffix for lead crimped Design and specifications are each subject to change without notice. Ask factory for the current technical specifications before purchase and/or use. Should a safety concern arise regarding this product, please be sure to contact us immediately. 02 Sep. 2017 Plastic Film Capacitors Rating · Dimensions · Quantity ● Rated voltage : 450 V.DC, Capacitance tolerance : ± 5 %(J), ±10 %(K) Cap. (μF) Part No. ECWF2W104◻A( ECWF2W124◻A( ECWF2W154◻A( ECWF2W184◻A( ECWF2W224◻A( ECWF2W274◻A( ECWF2W334◻A( ECWF2W394◻A( ECWF2W474◻A( ECWF2W564◻A( ECWF2W684◻A( ECWF2W824◻A( ECWF2W105◻A( ECWF2W125◻A( ECWF2W155◻A( ECWF2W185◻A( ECWF2W225◻A( ECWF2W275◻A( ECWF2W335◻A( ECWF2W395◻A( ECWF2W475◻A( ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) 0.10 0.12 0.15 0.18 0.22 0.27 0.33 0.39 0.47 0.56 0.68 0.82 1.0 1.2 1.5 1.8 2.2 2.7 3.3 3.9 4.7 L max. T max. 13.0 13.0 13.0 13.0 13.0 13.0 13.0 13.0 13.0 18.1 18.1 18.1 18.1 18.8 18.8 18.8 18.8 26.3 26.3 26.3 26.3 5.1 5.4 5.7 6.1 6.5 7.0 7.6 8.1 8.7 7.0 7.5 8.2 9.3 9.7 10.7 11.6 12.8 10.6 11.7 12.6 13.8 Straight – 11.5 12.1 12.7 12.6 14.7 15.8 16.7 17.9 16.5 17.5 18.4 19.6 Dimensions (mm) H max. S F Crimped lead Crimped lead Crimped lead Crimped lead G max. (Suffix B) (Suffix Q) (Suffix B) (Suffix Q) 14.3 14.3 7.5 10.0 1.5 14.5 14.5 7.5 10.0 1.5 14.9 14.9 7.5 10.0 1.5 15.2 15.2 7.5 10.0 1.5 15.6 15.6 7.5 10.0 1.5 – 16.1 16.1 7.5 10.0 1.5 16.7 16.7 7.5 10.0 1.5 17.2 17.2 7.5 10.0 1.5 17.9 17.9 7.5 10.0 1.5 16.5 18.5 15.0 7.5 15.0 1.5 17.1 19.1 15.0 7.5 15.0 1.5 17.7 19.7 15.0 7.5 15.0 1.5 17.6 19.6 15.0 7.5 15.0 1.5 19.7 21.7 15.0 7.5 15.0 1.5 20.8 22.8 15.0 7.5 15.0 1.5 21.7 23.7 15.0 7.5 15.0 1.5 22.9 24.9 15.0 7.5 15.0 1.5 21.5 23.5 22.5 15.0 22.5 1.5 22.5 24.5 22.5 15.0 22.5 1.5 23.4 25.4 22.5 15.0 22.5 1.5 24.6 26.6 22.5 15.0 22.5 1.5 Min. order Q'ty Taping Bulk fd 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 Straight · 7.5 mm Crimped lead 1200 1000 800 600 400 500 300 200 – ✽ ◻ : Capacitance tolerance code ( ) : Suffix for lead crimped ● Rated voltage : 630 V.DC, Capacitance tolerance : ± 5 %(J) Cap. (μF) L max. T max. Part No. ECWFA2J104J( ECWFA2J124J( ECWFA2J154J( ECWFA2J184J( ECWFA2J224J( ECWFA2J274J( ECWFA2J334J( ECWFA2J394J( ECWFA2J474J( ECWFA2J564J( ECWFA2J684J( ECWFA2J824J( ECWFA2J105J( ECWFA2J125J( ECWFA2J155J( ECWFA2J185J( ECWFA2J225J( ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) 0.10 0.12 0.15 0.18 0.22 0.27 0.33 0.39 0.47 0.56 0.68 0.82 1.0 1.2 1.5 1.8 2.2 18.2 18.2 18.2 18.2 18.2 18.2 18.2 18.2 18.2 18.2 18.2 26.0 26.0 26.0 26.0 26.0 26.0 5.2 5.5 6.0 6.5 7.1 7.8 8.5 9.2 10.0 10.9 12.0 10.1 11.1 12.1 13.5 14.8 16.3 Straight 10.4 10.8 11.2 11.7 12.3 12.9 13.6 14.3 15.1 16.0 17.1 15.3 16.2 17.2 18.6 19.8 21.4 Dimensions (mm) H max. S F Crimped lead Crimped lead Crimped lead Crimped lead G max. (Suffix B) (Suffix Q) (Suffix B) (Suffix Q) 15.4 15.4 15.0 7.5 15.0 1.5 15.8 15.8 15.0 7.5 15.0 1.5 16.2 16.2 15.0 7.5 15.0 1.5 16.7 16.7 15.0 7.5 15.0 1.5 17.3 17.3 15.0 7.5 15.0 1.5 17.9 17.9 15.0 7.5 15.0 1.5 18.6 18.6 15.0 7.5 15.0 1.5 19.3 19.3 15.0 7.5 15.0 1.5 20.1 20.1 15.0 7.5 15.0 1.5 21.0 21.0 15.0 7.5 15.0 1.5 22.1 22.1 15.0 7.5 15.0 1.5 20.3 22.3 22.5 15.0 22.5 1.5 21.2 23.2 22.5 15.0 22.5 1.5 22.2 24.2 22.5 15.0 22.5 1.5 23.6 25.6 22.5 15.0 22.5 1.5 24.8 26.8 22.5 15.0 22.5 1.5 26.4 28.4 22.5 15.0 22.5 1.5 fd 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.8 0.8 0.8 0.8 0.8 0.8 Min. order Q'ty Taping Bulk Crimped 7.5 mm Straight lead 600 500 400 1000 1000 300 200 − 800 600 500 400 600 500 ✽ ( ) : Suffix for lead crimped Design and specifications are each subject to change without notice. Ask factory for the current technical specifications before purchase and/or use. Should a safety concern arise regarding this product, please be sure to contact us immediately. 02 Sep. 2017 *XLGHOLQHVDQGSUHFDXWLRQVUHJDUGLQJWKH WHFKQLFDOLQIRUPDWLRQDQGXVHRIRXUSURGXFWV GHVFULEHGLQWKLVRQOLQHFDWDORJ ‫ٹ‬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‫ٹ‬7KHTXDOLW\DQGSHUIRUPDQFHRIRXUSURGXFWVDVGHVFULEHGLQWKLVRQOLQHFDWDORJRQO\DSSO\ WRRXUSURGXFWVZKHQXVHGLQLVRODWLRQ7KHUHIRUHSOHDVHHQVXUH\RXHYDOXDWHDQGYHULI\ RXUSURGXFWVXQGHUWKHVSHFLILFFLUFXPVWDQFHVLQZKLFKRXUSURGXFWVDUHDVVHPEOHGLQ\RXU RZQSURGXFWVDQGLQZKLFKRXUSURGXFWVZLOODFWXDOO\EHXVHG ‫ٹ‬,I\RXXVHRXUSURGXFWVLQHTXLSPHQWWKDWUHTXLUHVDKLJKGHJUHHRIUHOLDELOLW\UHJDUGOHVV RIWKHDSSOLFDWLRQLWLVUHFRPPHQGHGWKDW\RXVHWXSSURWHFWLRQFLUFXLWVDQGUHGXQGDQF\ FLUFXLWVLQRUGHUWRHQVXUHVDIHW\RI\RXUHTXLSPHQW ‫ٹ‬7KHSURGXFWVDQGSURGXFWVSHFLILFDWLRQVGHVFULEHGLQWKLVRQOLQHFDWDORJDUHVXEMHFWWR FKDQJHIRULPSURYHPHQWZLWKRXWSULRUQRWLFH7KHUHIRUHSOHDVHEHVXUHWRUHTXHVWDQG FRQILUPWKHODWHVWSURGXFWVSHFLILFDWLRQVZKLFKH[SODLQWKHVSHFLILFDWLRQVRIRXUSURGXFWVLQ GHWDLOEHIRUH\RXILQDOL]HWKHGHVLJQRI\RXUDSSOLFDWLRQVSXUFKDVHRUXVHRXUSURGXFWV ‫ٹ‬7KHWHFKQLFDOLQIRUPDWLRQLQWKLVRQOLQHFDWDORJSURYLGHVH[DPSOHVRIRXUSURGXFWV  W\SLFDORSHUDWLRQVDQGDSSOLFDWLRQFLUFXLWV:HGRQRWJXDUDQWHHWKHQRQLQIULQJHPHQWRI WKLUGSDUW\ VLQWHOOHFWXDOSURSHUW\ULJKWVDQGZHGRQRWJUDQWDQ\OLFHQVHULJKWRULQWHUHVW LQRXULQWHOOHFWXDOSURSHUW\ ‫ٹ‬,IDQ\RIRXUSURGXFWVSURGXFWVSHFLILFDWLRQVDQGRUWHFKQLFDOLQIRUPDWLRQLQWKLVRQOLQH FDWDORJLVWREHH[SRUWHGRUSURYLGHGWRQRQUHVLGHQWVWKHODZVDQGUHJXODWLRQVRIWKH H[SRUWLQJFRXQWU\HVSHFLDOO\ZLWKUHJDUGWRVHFXULW\DQGH[SRUWFRQWUROVKDOOEHREVHUYHG 5HJDUGLQJWKH&HUWLILFDWHRI&RPSOLDQFHZLWK WKH(85R+6'LUHFWLYH5($&+5HJXODWLRQV! ‫ٹ‬7KHVZLWFKRYHUGDWHIRUFRPSOLDQFHZLWKWKH5R+6'LUHFWLYH5($&+5HJXODWLRQVYDULHV GHSHQGLQJRQWKHSDUWQXPEHURUVHULHVRIRXUSURGXFWV ‫ٹ‬:KHQ\RXXVHWKHLQYHQWRU\RIRXUSURGXFWVIRUZKLFKLWLVXQFOHDUZKHWKHUWKRVHSURGXFWV DUHFRPSOLDQWZLWKWKH5R+6'LUHFWLYH5($&+5HJXODWLRQSOHDVHVHOHFW6DOHV,QTXLU\LQWKH ZHEVLWHLQTXLU\IRUPDQGFRQWDFWXV :HGRQRWWDNHDQ\UHVSRQVLELOLW\IRUWKHXVHRIRXUSURGXFWVRXWVLGHWKHVFRSHRIWKH VSHFLILFDWLRQVGHVFULSWLRQVJXLGHOLQHVDQGSUHFDXWLRQVGHVFULEHGLQWKLVRQOLQHFDWDORJ 2FW 3ODVWLF)LOP&DSDFLWRUV 35(&$87,21$1':$51,1* ‫ ٴ‬3OHDVHFRQVXOWXVLQFDVHWKDWGHPDQGWKHVSHFLILFDWLRQRIRXUFRPSDQ\ZLWKRXWIDLODQGGRWKHFRQILUPDWLRQRI WKHXVHFRQGLWLRQDQGWKDWH[FHHGVWKHHQWU\YDOXHDQGEHLQGLVWLQFWZKHQ\RXXVHLW ‫ ٴ‬7KHILOPFDSDFLWRUVFRQWDLQDILOPEDVHGGLHOHFWULFZKLFKPD\EHIODPPDEOHXQGHUFHUWDLQRSHUDWLQJFRQGLWLRQV :KHQLQXVHWKH\FDQHLWKHUHPLWVPRNHDQGRULJQLWHVKRXOGWKHSURGXFWEHGHIHFWLYH,WLVUHFRPPHQGHG FRYHULQJWKHVXUURXQGLQJUHVLQZLWKIODPHUHVLVWDQWPDWHULDOVRUFDVHDVQHHGHGSDUWLFXODUO\ ‫ ٴ‬,QWKHHYHQWRIWURXEOHVRIRWKHUSDUWVRQWKHFLUFXLWVXFKDVVKRUWHQLQJDQGRSHQLQJSURYLGHZLWKSURSHUPHDQV IRUSUHYHQWLQJH[FHVVLYHYROWDJHFXUUHQWRUWHPSHUDWXUHH[FHHGLQJWKHUDWLQJIURPEHLQJDSSOLHGWRWKHILOP FDSDFLWRU ‫ ٴ‬3ULRUWRXVHSOHDVHPDNHVXUHWKDWIDLOXUHRIWKHILOPFDSDFLWRUVGRHVQRWKDYHDQ\QHJDWLYHHIIHFWVRQRWKHU VXUURXQGLQJHOHFWURQLFFLUFXLWFRPSRQHQWVDQGGHYLFHVWKDWZRXOGSRVVLEO\FDXVHGDPDJH3URSHUVDIHW\ PHDVXUHVVKRXOGEHWDNHQXVLQJIDLOVDIHSURWHFWLYHFLUFXLWGHVLJQVWRKHOSSUHYHQWRWKHUGHYLFHVRIEHFRPLQJ XQVDIH ([DPSOH D6WDWHLQZKLFKEDVLFSHUIRUPDQFHRIDXWRPRELOHV UXQWXUQDQGVWRS  E)DOVHRSHUDWLRQV F6PRNHHPLVVLRQLJQLWLRQV ‫ ٴ‬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‫ ٴ‬,IXVHGLQDVSHFLILFDSSOLDQFHWKDWUHTXLUHVDQH[WUHPHO\KLJKUHOLDELOLW\GLUHFWO\UHODWLQJZLWKDQ\OLIHVXSSRUWLQJ HTXLSPHQWOLNHHOHFWURQLFDYLDWLRQFRQWUROOHUVDXWRPRWLYHGULYLQJFRQWUROOHUVDQGHQJLQHFRQWUROOHUVSOHDVH FRQVXOWXVDQGXVHZLWKLQWKHFRQGLWLRQVGHVLJQDWHGLQWKHVSHFLILFDWLRQ+RZHYHUWKHFKLSW\SHFDSDFLWRUVKRXOG QRWEHXVHGLQWKHVHDSSOLDQFHV 1RWH ‫؝‬7HFKQLFDOLQIRUPDWLRQLQWKLVFDWDORJLVLQWHQGHGWRFRQYH\H[DPSOHVRIW\SLFDOSHUIRUPDQFHVDQGRU DSSOLFDWLRQVDQGLVQRWLQWHQGHGWRFRQYH\SDWHQWVULJKWVLIDQ\ ‫)؝‬RUWKHSURGXFWVZKLFKDUHFRQWUROOHGLWHPVVXEMHFWWRWKH)RUHLJQ([FKDQJHDQG)RUHLJQ7UDGH&RQWURO/DZ WKHH[SRUWSHUPLVVLRQDFFRUGLQJWRWKH/DZLVQHFHVVDU\ ‫؝‬1RWHRIR]RQHGHSOHWLQJVXEVWDQFHVRIFODVV 2'6 XQGHUWKH0RQWUHDO3URWRFROLVXVHGLQPDQXIDFWXULQJ SURFHVVRI'HYLFH6ROXWLRQV%XVLQHVV'LYLVLRQ3DQDVRQLF&RUSRUDWLRQ 6HS 3ODVWLF)LOP&DSDFLWRUV *XLGHOLQHVDQGSUHFDXWLRQV &RPPRQ 7DUJHWSURGXFW(&4(岝(&:)岝(&:+岝(&48岝(&+8岝(&:8岝(&38 2SHUDWLQJYROWDJH )RUWKHILOPFDSDFLWRUYDULHVWKHPD[LPXPDSSOLFDEOHYROWDJHGHSHQGLQJRQWKHDSSOLHGYROWDJHZDYHIRUPFXUUHQW ZDYHIRUPIUHTXHQF\DPELHQWWHPSHUDWXUH FDSDFLWRUVXUIDFHWHPSHUDWXUH FDSDFLWDQFHYDOXHHWF8VHZLWKLQ WKHVSHFLILHGYDOXHVE\FKHFNLQJWKHYROWDJHZDYHIRUPFXUUHQWZDYHIRUPDQGIUHTXHQF\DSSOLHGWRERWKHQGVRI WKHFDSDFLWRUSULRUWRXVH ,QWKHFDVHRIKLJKIUHTXHQF\WKHSHUPLVVLEOHYROWDJHYDULHVZLWKWKHW\SHRIWKH FDSDFLWRU)RUGHWDLOVSOHDVHVHHWKHUHOHYDQWVSHFLILFDWLRQV   5DWHGYROWDJH 1RWH ‫ ٴ‬7KHUDWHGYROWDJHUHIHUVWRWKHPD[LPXPYROWDJHWKDWFDQEHDSSOLHGFRQWLQXRXVO\ZLWKLQWKHFDWHJRU\ WHPSHUDWXUHUDQJH,IXVHGEH\RQGWKHUDWLQJLWPD\LQGXFHLQVXODWLRQEUHDNGRZQRIWKHILOPDQGFDXVHVKRUW FLUFXLW7KHSURGXFWOLIHWLPHDEXWWKHPD[LPXPUDWHGFRQGLWLRQGHSHQGVRQWKHNLQGRIWKHFDSDFLWRU ‫ ٴ‬,QDPHWDOL]HGFDSDFLWRUZKLFKKDVDVHOIKHDOLQJDFWLRQVKRUWFLUFXLWRURWKHUIDLOXUHPD\QRWRFFXU LPPHGLDWHO\DIWHUDSSOLFDWLRQRIDYROWDJHRYHUWKHUDWHGYROWDJHEXWWKHLQVXODWLRQUHVLVWDQFHLVORZHUHGDQG LWPD\OHDGWRVPRNHRUILUHGHSHQGLQJRQWKHFLUFXLWFRQGLWLRQV ‫ ٴ‬$QRLVHVXSSUHVVLRQFDSDFLWRU $&UDWHGYROWDJH VKRXOGQRWEHXVHGDWKLJKIUHTXHQF\FLUFXLW 6PRNHDQGLJQLWLRQPD\EHFDXVHGE\FRQGLWLRQVIRUXVH ‫ ٴ‬7KHUDWHGYROWDJHRIWKHFDSDFLWRUIRUHOHFWURQLFDSSOLDQFHLVXVXDOO\LQGLFDWHGLQWKH'&YROWDJHH[FHSWIRU VSHFLDOSXUSRVHV   'HUDWLQJRIUDWHGYROWDJHZKHUHRSHUDWLQJWHPSHUDWXUHLVKLJK ,QILOPFDSDFLWRUVWKHXVDEOHXSSHUOLPLWWHPSHUDWXUH WKHFDSDFLWRUVXUIDFHWHPSHUDWXUH LVGHWHUPLQHGE\ WKHNLQGRIGLHOHFWULFPDWHULDOV :KHQXVHGEH\RQGWKHUDWHGXSSHUOLPLWWHPSHUDWXUH XVDEOHXSSHUOLPLWWHPSHUDWXUH LWLVQHFHVVDU\WR YROWDJHGHUDWHWKHLQFHUWDLQW\SHV PRGHOV ZKLOHRWKHUW\SHV PRGHOV FDQQRWEHXVHGEH\RQGWKHUDWHG XSSHUOLPLWWHPSHUDWXUH%HVXUHWRFRQILUPWKHW\SHRIFDSDFLWRUVEHIRUHXVLQJDQGZKHQXVLQJEH\RQGWKH UDWHGXSSHUOLPLWWHPSHUDWXUHEHVXUHWRUHGXFHWKHYROWDJHDQGPDNHVXUHWKHFDSDFLWRUVXUIDFH WHPSHUDWXUHLVZLWKLQWKHXVDEOHXSSHUOLPLWWHPSHUDWXUHDVEHORZ:KHQXVLQJDWKLJKIUHTXHQF\KRZHYHU VLQFHWKHFDSDFLWRULWVHOIKDVLWVRZQWHPSHUDWXUHULVHDQGKHQFHWKHIROORZLQJGHUDWLQJUDWLRFDQQRWEH DSSOLHG 6HS 3ODVWLF)LOP&DSDFLWRUV ٛ5DWHGXSSHUOLPLWWHPSHUDWXUH8SSHUFDWHJRU\WHPSHUDWXUHDQGGHUDWLQJUDWLRRIXSSHUFDWHJRU\ WHPSHUDWXUHE\W\SHVLQ'&XVHٜ‫[(ق‬DPSOH‫ك‬ 5DWHGXSSHU 5DWHGYROWDJHE\WKH 8SSHUFDWHJRU\ OLPLW WHPSHUDWXUHEH\RQG5DWHG WHPSHUDWXUH WHPSHUDWXUH XSSHUOLPLWWHPSHUDWXUH 7\SH 'LHOHFWULF (&4( ) 3RO\HVWHU 3(7 ٦ ٦ ٦ ٦ ٦ 1RQHHGGHUDWLQJRIUDWHG YROWDJH ٦ ٦ ٦ ٦ ٦ ٦ ٦ ٦ ٦ ٦ ٦ ٦ (&:8 ; ٦ ٦ 1RQHHGGHUDWLQJRIUDWHG YROWDJH (&:8 & ٦ ٦ ٦ ٦ ٦ 1RQHHGGHUDWLQJRIUDWHG YROWDJH ٦ ٦ 1RQHHGGHUDWLQJRIUDWHG YROWDJH ٦ ٦ ٦ (&+8 & ٦ ٦ 1RQHHGGHUDWLQJRIUDWHG YROWDJH (&38 $ ٦ ٦ 1RQHHGGHUDWLQJRIUDWHG YROWDJH (&4( % (&4( 7 (&:) $ UDWHGYROWDJH'&9 (&:) / (&:+ $ (&:+ & (&:) $ UDWHGYROWDJH'&9 3RO\SURS\OHQH 33 (&:) $ UDWHGYROWDJH'&9 (&:+ 9 (&:)(岜UDWHGYROWDJH'&9 (&:)'岜UDWHGYROWDJH'&9 (&:)(岜UDWHGYROWDJH'&9 (&:)'岜UDWHGYROWDJH'&9 (&:)*岜UDWHGYROWDJH'&9 SRO\HWK\OHQH QDSKWKDODWH 336 (&:8 9 (&+8 ; UDWHGYROWDJH'&9 (&+8 ; UDWHGYROWDJH'&9 ‫ق‬FDSDFLWDQFH̭)‫ك)̭ع‬ (&+8 ; UDWHGYROWDJH'&9 SRO\SKHQ\OHQH VXOILGH 336 ‫ق‬FDSDFLWDQFH̭)‫ك)̭ع‬ $FU\OLFUHVLQ 嵣 7KH$&UDWHGYROWDJHLWHPVDUHXQQHFHVVDU\IRUYROWDJHGHUDWLQJE\WKHWHPSHUDWXUH 5DWHGXSSHUOLPLWWHPSHUDWXUH7KHXSSHUOLPLWWHPSHUDWXUHZKLFKFDQ WUHGXFHWKHYROWDJHDQGFDQXVH FRQWLQXRXVO\ LQFOXGLQJRZQWHPSHUDWXUHULVH 8SSHUFDWHJRU\WHPSHUDWXUH7KHXSSHUOLPLWWHPSHUDWXUHZKLFKFDQUHGXFHWKHYROWDJHDQGXVH FRQWLQXRXVO\ LQFOXGLQJRZQWHPSHUDWXUHULVH ‫[( ە‬DPSOH 'HUDWLQJRIUDWHGYROWDJHWRRSHUDWLQJWHPSHUDWXUH5DWHGXSSHUOLPLWWHPSHUDWXUH٦8SSHU 9ROW 3HUFHQWDJHWRWKHUDWHG FDWHJRU\WHPSHUDWXUH٦'HUDWLQJRIUDWHGYROWDJHWRZKLFKLV٦DWPRUHWKDQ٦ &DS6XUIDFH7HPS ٦ 6HS 3ODVWLF)LOP&DSDFLWRUV   3HUPLVVLEOHYROWDJH 506 LQFXUUHQWFRUUHVSRQGLQJWR'&5DWHG9ROWDJH ‫ ٴ‬$QRLVHVXSSUHVVLRQFDSDFLWRU $&UDWHGYROWDJH VKRXOGEHXVHGDWWKHSULPD\VLGHSRZHUVXSSOLHV 7KHGHVLJQZKLFKSUHPLVHGRQXVHE\+]RU+]VLQHZDYH ‫ ٴ‬,QFDVHRIDSSO\LQJYROWDJHLQDOWHUQDWLQJFXUUHQW +]RU+]VLQHZDYH WRDFDSDFLWRUSHUPLVVLEOH YROWDJH 506 7KHFDSDFLWRURI'&UDWLQJVKRXOGQRWEHXVHGDWWKHSULPDU\VLGHSRZHUVXSSOLHV   'HUDWLQJRIUDWHGYROWDJHZKHQXVLQJDWKLJKIUHTXHQF\ :KHQXVLQJDWKLJKIUHTXHQF\WKHUHLVDULVNRIWKHUPDOUXQDZD\ VPRNHILUH GXHWRVHOIKHDWJHQHUDWLRQLQ WKHFDSDFLWRU'HUDWHWKHRSHUDWLQJYROWDJHDFFRUGLQJWRWKHH[DPSOHEHORZ )RUXVHDWKLJKIUHTXHQF\ZHUHFRPPHQG(&+8 ;  & (&:) $  / DQG(&:+ $  &  9 W\SHV ٛ'HUDWLQJH[DPSOHRIRSHUDWLQJYROWDJHٜ &DSDFLWRUXVHG(&:)-$ 9'&̭) 2SHUDWLQJIUHTXHQF\N+] VLQHZDYH 3HUPLVVLEOHFXUUHQW HQWU\WKHYDOXHIURPVSHFLILFDWLRQ N+]$UPV , 9   9UPV ̱I&¼¼¼¼¼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̥ GHSHQGLQJRQWKH GLVVLSDWLRQIDFWRUDQGKHQFHWKHSHUPLVVLEOHUPVFXUUHQWIRURSHUDWLQJIUHTXHQF\GLIIHUVGHSHQGLQJRQWKH FDSDFLWRUW\SH,QSDUWLFXODUZKHQRSHUDWLQJDWKLJKIUHTXHQF\WKHGLVVLSDWLRQIDFWRU WDQ̥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‫ܒ‬9UPV+] DWVLQHZDYH 5DWHG9ROWDJH9'&‫ܒ‬9UPV+] DWVLQHZDYH 2SHUDWLQJWHPS ٦WR٦ &DSVXUIDFH  2SHUDWLQJWHPS ٦WR٦ &DSVXUIDFH  㻝㻜㻚㻜䃛㻲 㻠㻚㻡 㻠㻚㻜 㻟㻚㻡 㻠㻚㻣䃛㻲 㻟㻚㻜 㻞㻚㻡 㻞㻚㻞䃛㻲 㻞㻚㻜 㻝㻚㻜 㻝㻚㻜䃛㻲 㻝㻚㻡 㻜㻚㻞㻞䃛㻲 㻜㻚㻡 㻜㻚㻠㻣䃛㻲 㻜㻚㻝㻜䃛㻲 㻜㻚㻜㻠㻣䃛㻲 㻜㻚㻜㻝㻜䃛㻲 㻜㻚㻜㻞㻞䃛㻲 㻜㻚㻜 㻝㻜 㻡㻜 ‫ص‬ )UHTXHQF\‫ۚق‬+]‫ك‬ 1RWH ‫ ص‬ಅ 3HUPLVVLEOH&XUUHQW ઍ ਗ਼ ૴ க ‫ق‬$UPV‫ص ك‬ ‫ ص‬ಅ ઍ ਗ਼3HUPLVVLEOH&XUUHQW ૴ க ‫ق‬$UPV‫ص ك‬ 㻡㻚㻜 7KHJUDSKVLOOXVWUDWHGDUH IRUUHIHUHQFHRQO\ :DYHIRUPRIFXUUHQWDQG WHPSHUDWXUHULVHRI FDSDFLWRUDUHNH\IDFWRUV WRGHWHUPLQHSHUPLVVLEOH FXUUHQW)RUDFWXDO DSSOLFDWLRQFRQVXOWRXU VDOHVUHSUHVHQWDWLYHRU 㻡㻜 㻝㻜㻜 ‫ص‬ ‫ص‬ 㻝㻜㻜 )UHTXHQF\‫ۚق‬+]‫ك‬ VDOHVRIILFH ‫ص‬   3HUPLVVLEOHFXUUHQWWRSXOVHFXUUHQW ‫ ٴ‬:KHQXVHGLQVZLWFKLQJFLUFXLWVRUVQXEEHUFLUFXLWVDPRPHQWDU\KLJKFXUUHQWSXOVHPD\FDXVHORFDOKHDW JHQHUDWLRQ7KLVFDXVLQJWKHFDSDFLWDQFHYDOXHWRGHWHULRUDWHRUDQRSHQFLUFXLWFRQGLWLRQ /RFDOKHDWJHQHUDWLRQPD\DOVRLQGXFHVPRNHRUILUH 7KHSXOVHSHUPLVVLEOHFXUUHQW WLPHV LVREWDLQHGE\WKHSURGXFWRIG9GW 9̭V YDOXHWKDWLVHQWHULQJWR WKHVSHFLILFDWLRQDQGFDSDFLWDQFH ̭)  ‫ ٴ‬7KHG9GW 9̭V YDOXHRIDILOPFDSDFLWRULVGHWHUPLQHGE\WKHHOHPHQWVWUXFWXUHDQGLQWKHPHWDOL]HGW\SHLQ SDUWLFXODUWKHLQWHUQDOHYDSRUDWHGHOHFWURGHDQGH[WHUQDOWDNHRXWHOHFWURGHDUHFRQQHFWHGE\PHWDOL]HGFRQWDFW PHWDOVSUD\LQJ DQGKHQFHGXHFDXWLRQLVQHHGHGEHFDXVHWKHXSSHUOLPLWRIG9GWYDOXHLVORZ ‫ ٴ‬7KHG9GWYDOXHVFRUUHVSRQGLQJWRUDWHGYROWDJHDQGFDSDFLWDQFHYDOXHRIUHSUHVHQWDWLYHW\SHVDUHVKRZQLQ SDJH:KHQXVHGLQDKLJKFXUUHQWSXOVHFLUFXLWFKHFNWKHSXOVHSHUPLVVLEOHFXUUHQW $RS  ‫ ٴ‬3OHDVHFRQWDFWZLWKXV,ISXOVHVDUHDSSOLHGPRUHWKDQWLPHV +RZWRGHWHUPLQHSXOVHSHUPLVVLEOHFXUUHQW! ‫ ٴ‬:KHQYROWDJH9 9 LVDSSOLHGWRFDSDFLWRU& )IRUIDUDG WKHHOHFWULFFKDUJH4 & LVH[SUHVVHGLQIRUPXOD岜⋇ 4 &9⋇ ‫ ٴ‬7KHFKDUJLQJFXUUHQW, $ IORZLQWKHFDSDFLWRUDWWKLVWLPHLVH[SUHVVHGLQIRUPXOD⋈ , G4GW⋈ ‫' ٴ‬LIIHUHQWLDWLQJERWKVLGHVRIIRUPXOD⋇E\WLPHWDQGSXWWLQJLQWRIRUPXOD⋈\LHOGVIRUPXOD⋉ G4GW &G9GW , &G9GW⋉ ‫ ٴ‬7KHUHIRUHWKHSXOVHFXUUHQWLVGHWHUPLQHGDVWKHSURGXFWRIWKHFDSDFLWDQFHYDOXH& ̭) DQGYROWDJHFKDQJH G9GWSHṶV SURGXFWRIWKHFDSDFLWDQFHYDOXH& ̭) DQG YROWDJHFKDQJHG9GWSHṶV  ([DPSOH ,QWKHFDVHRI(&4(.) SHUPLVVLEOHG9GW 5DWHGYROWDJH9'& &DSDFLWDQFH̭) SHUPLVVLEOHG9GWYDOXH SXOVHSHUPLVVLEOHFXUUHQW ̭) ¼‫ܠ‬$RS KRZHYHUQXPEHURIUHSHWLWLRQVLVWLPHVRUOHVV WKDWLVPRPHQWDU\SXOVHFXUUHQWFDQEHXVHGXSWR $RS 0DNHVXUHWKHUPVFXUUHQWLVZLWKLQWKHSHUPLVVLEOHYDOXH 6HS 3ODVWLF)LOP&DSDFLWRUV >(&4( ) 3HUPLVVLEOHG9GWYDOXHZLWKLQSXOVHV!@ 7\SH  &DS̭) (&4( ) (&4( ) 9'& 9'&    ‫ك‬                       ‫ك‬   3          3               3 岜‫كق‬ 岜‫كق‬ 3 岜‫كق‬         3   3             3 3   8QLW‫؟‬9̭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bVVHOIKHDWLQJWHPSHUDWXUHULVH YDOXH ZLWKLQVSHFLILHGYDOXH WKDWLVWKHFDSDFLWRUVXUIDFHWHPSHUDWXUHVKRXOGEHZLWKLQWKHUDWHGRSHUDWLQJ WHPSHUDWXUH 6HS 3ODVWLF)LOP&DSDFLWRUV &DXWLRQ :KHQXVHGDERYHWKHVSHFLILHGRSHUDWLQJWHPSHUDWXUHGLVVLSDWLRQIDFWRU WDQ̥ LQFUHDVHDQGWKHVHOIKHDW JHQHUDWLRQPD\H[FHHGWKHSHUPLVVLEOHYDOXHSRVVLEO\FDXVLQJGHWHULRUDWLRQRIGLHOHFWULFILOPVKRUWFLUFXLW DQGVPRNHRUILUH ,IWKHUHLVFRROLQJSODWHRIRWKHUSDUWRUDQ\UHVLVWDQFHKHDWHGWRKLJKWHPSHUDWXUHQHDUWKHILOPFDSDFLWRU WKHFDSDFLWRUPD\EHORFDOO\KHDWHGE\WKHUDGLDWLRQKHDWH[FHHGLQJWKHRSHUDWLQJWHPSHUDWXUHUDQJHDQG VPRNHRUILUHPD\EHFDXVHG &KHFNWKHFDSDFLWRUVXUIDFHWHPSHUDWXUHDWWKHKHDWVRXUFHVLGH  2WKHUFDXWLRQV   )ODPHUHWDUGDWLRQ ‫ ٴ‬7KHGLHOHFWULFILOPLVQRWDIODPHUHWDUGDQWPDWHULDO ‫ ٴ‬,QWKH(&4((&:)DQG(&:+W\SHVIODPHUHWDUGDQWHSR[\UHVLQ 9 LVXVHGLQWKHFRDWLQJUHVLQ   (QYLURQPHQWVRIXVH ‫؝‬   :KHQXVHGLQKXPLGHQYLURQPHQWV :KHQXVHGIRUDORQJSHULRGLQKXPLGHQYLURQPHQWVWKHHOHPHQWVDEVRUEPRLVWXUHWKURXJKWKHFRDWLQJ ZLWKWKHSDVVLQJRIWKHWLPH7KHZDWHUR[LGL]HVWKHHOHFWURGH HYDSRUDWHGILOPDQGPHWDOL]HGFRQWDFW  DQGOHDGVWRWURXEOH$OVRPDNHVXUHWKHFDSDFLWDQFHYDOXHFDQEHYHU\ODUJHGHSHQGLQJRQW\SHRIWKH FDSDFLWRU   :KHQXVLQJLQKLJKWHPSHUDWXUHHQYLURQPHQW ‫؝‬ :KHQ(&48*LVXVHGLQKLJKWHPSHUDWXUHHQYLURQPHQW PRUHWKDQ٦ LWPD\EHSRVVLEOHWRFDXVH OHDNLQJRLOIURPWKHFDSDFLWRU+RZHYHUWKHTXDOLW\DQGUHOLDELOLW\RIWKHFDSDFLWRULVQRWDIIHFWHGE\WKH OHDNLQJRLO%XWSOHDVHGRQ WXVHWKHSDUWZKLFKPD\FDXVHDSRLQWRIWDFWREVWDFOHE\RLODQGWKLV FRQGHQVHUE\DVDPHVHW ‫؝‬   &DXWLRQVRQJDVDWPRVSKHUH :KHQXVLQJLQWKHR[LGL]LQJJDVVXFKDVK\GURJHQFKORULGHK\GURJHQVXOILGHDQGVXOIXURXVDFLGWKH HYDSRUDWHGHOHFWURGH $OXPLQXP RUPHWDOL]HGFRQWDFW ]LQF岜FRPSRXQG PD\EHR[LGL]HGPD\UHVXOWLQ VPRNHRUILUH$YRLGVXFKDWPRVSKHUH   :KHQXVLQJE\UHVLQFRDWLQJ ‫؝‬ :KHQXVLQJUHVLQFRDWLQJRUUHVLQSRWWLQJFRPSRQHQWVWRLPSURYHKXPLGLW\UHVLVWDQFHRUJDVUHVLVWDQFH RUWRIL[SDUWVLQSODFH3OHDVHFRQWDFWZLWKXV ‫ ٴ‬7KHVROYHQWRUWKHFRQVWLWXHQWLQWKHUHVLQPD\SHUPHDWHLQWRWKHPHWDOL]HGFRQWDFWRUHOHFWURGH DOXPLQXPIRLORUHYDSRUDWHGILOP WRGHWHULRUDWHFKDUDFWHULVWLFV ‫ ٴ‬:KHQKDUGHQLQJWKHUHVLQFKHPLFDOUHDFWLRQKHDW FXULQJKHDWJHQHUDWLRQ RFFXUVZKLFKPD\DGYHUVHO\ DIIHFWWKHFDSDFLWRU ‫ ٴ‬,QWKHFDVHRIWKHOHDGW\SHFDSDFLWRUVEHVXUHWRWHVWDQGHYDOXDWHHQRXJKIRUWKHWKHUPDOVWUHVVWRWKH FDSDFLWRU ‫؝‬   2WKHU ‫ ٴ‬:KHQXVLQJLQWKHIROORZLQJFRQGLWLRQVWKHFKDUDFWHULVWLFPD\EHGHWHULRUDWLRQ3OHDVHGRQ WXVHDWVXFK FRQGLWLRQV ҩ7KHSODFHWKDWWRRNZDWHURURLO ҩ7KHSODFHWKDWH[SRVHGWRWKHGLUHFWVXQOLJKW ҩ7KHSODFHWKDWUDGLDWHGR]RQHXOWUDYLROHWUD\VDQGUDGLDWLRQUD\V ‫ ٴ‬3OHDVHFRQVLGHUVRWKDWGXVWGRHVQ WFROOHFW7KDWZLOOEHWKHFDXVHRIWKHFKDUDFWHULVWLFGHWHULRUDWLRQ VKRUWFLUFXLWHWF    &KDQJHVLQFDSDFLWDQFHYDOXHRYHUWLPH ‫ ٴ‬7KHFDSDFLWRUFKDUDFWHULVWLFVFKDQJHFKDUDFWHULVWLFGHSHQGLQJRQLWVDPELHQWFRQGLWLRQVDQG HQYLURQPHQWDOFRQGLWLRQV,QQDWXUDOFRQGLWLRQVWKHUHLVDFHUWDLQFDSDFLWDQFHFKDQJHGXHWRWKH KXPLGLW\RIWKHFLUFXPVWDQFH7KHGHJUHHRIVXFKFDSDFLWDQFHFKDQJHVYDULHVZLWKWKHGLHOHFWULFPDWHULDO FRDWLQJPDWHULDODQGVWUXFWXUH7KHUHIRUHZHVKLSFRQVLGHULQJWKHVHFKDQJHVEXWZHRQO\JXDUDQWHH FDSDFLWDQFHYDOXHXQWLOGHOLYHU\ ZLWKRXWHDFKDUUDQJHPHQWV ‫) ٴ‬RUXVHLQDFLUFXLWZKHUHWLPHFRQVWDQWDQGFDSDFLWDQFHSUHFLVLRQDUHUHTXLUHGXVHWKHSURGXFWVRI SRO\SURS\OHQHILOP(&:)' $  / (&:+ $ RUILOP(&+8 ;  & ZKLFKYDU\OHVVZLWKWLPH 6HS 3ODVWLF)LOP&DSDFLWRUV   +XP %X]] ‫ ٴ‬+XPSURGXFHGE\FDSDFLWRUVGXHWRPHFKDQLFDOYLEUDWLRQRIWKHILOPLVFDXVHGE\WKHFRXORPEIRUFH ZKLFKH[LVWVEHWZHHQHOHFWURGHVRIRSSRVLWHSRODULW\$ORXGHUKXPLVSURGXFHGZKHQDSSOLHGYROWDJH ZDYHIRUPKDVGLVWRUWLRQDQGRUKLJKHUIUHTXHQF\FRPSRQHQWHWF$OWKRXJK+XPGRHVQRWVSRLO FKDUDFWHULVWLFVRIFDSDFLWRUVZKHQEHLQJXVHGDURXQGWKHDXGLRIUHTXHQF\SOHDVHFKHFNLW   6WRULQJPHWKRGVWRULQJFRQGLWLRQV ‫ ٴ‬,WPXVWEHQRWHGWKDWWKHVROGHUELOLW\RIWKHH[WHUQDOHOHFWURGHPD\GHWHULRUDWHGZKHQVWRUHGLQDQ DWPRVSKHUHILOOHGZLWKPRLVWXUHGXVWRUDUHDFWLYHR[LGL]LQJJDV K\GURJHQFKORULGHK\GURJHQVXOILGH VXOIXULFDFLG  ‫ ٴ‬6KRXOGQRWORFDWLRQZLWKSDUWLFXODUO\KLJKWHPSHUDWXUHDQGKLJKKXPLGLW\DQGVWRUHLQFRQGLWLRQVQRW H[FHHGLQJ٦DQG5+ ‫ ٴ‬:KHQLWLVNHSWIRUDORQJWHUPWKHVROGHUELOLW\RIWKHH[WHUQDOHOHFWURGHPD\GHWHULRUDWHIRUR[LGDWLRQRI HOHFWURGHVXUIDFH6RRXUUHFRPPHQGNHHSLQJSHULRGLVZLWKLQPRQWK)XUWKHULW VGLIIHUHQWLQWKH FRQGLWLRQGHSHQGLQJRQWKHLWHPVVRSOHDVHLQTXLUHIRUGHWDLOV   +DQGOLQJ3UHFDXWLRQV ‫ ٴ‬6XGGHQFKDUJLQJRUGLVFKDUJLQJPD\FDXVHGHWHULRUDWLRQRIFDSDFLWRUVXFKDVVKRUWLQJDQGRSHQLQJGXHWR FKDUJLQJRUGLVFKDUJLQJFXUUHQW:KHQFKDUJLQJRUGLVFKDUJLQJSDVVWKURXJKDUHVLVWDQFHRIWR ̚9RUPRUH ‫ ٴ‬:KHQFRQQHFWLQJPXOWLSOHILOPFDSDFLWRUVLQSDUDOOHOLQZLWKVWDQGYROWDJHWHVWRUOLIHWHVWFRQQHFWDUHVLVWDQFH RIWR̚9RUPRUHLQVHULHVWRHDFKFDSDFLWRU ‫ ٴ‬%HFDUHIXOQRWWRVFUDWFKWKHFDSDFLWRUVXUIDFHZLWKVKDUSHGJHV VXFKDVVFUHZGULYHUVROGHULQJLURQ SLQFHUVFKDVVLV 'RQbWDSSO\H[FHVVLYHORDGWRWKHOHDGZLUH DWWKHWLPHRIUHSURFHVVLQJRIOHDGZLUH HWF  ‫ ٴ‬,IWKHFDSDFLWRULVGURSSHGE\PLVWDNHLWVFKDUDFWHULVWLFVPD\EHGDPDJHG'RQbWXVHVXFKDFDSDFLWRU ,IUHXVLQJFKHFNWKHTXDOLW\VXIILFLHQWO\ ‫ ٴ‬,QWKHFDVHRIOHDGHGW\SHFDSDFLWRUEHFDUHIXOQRWWRDSSO\H[FHVVLYHIRUFHWRWKHOHDGZLUHURRWDUHD ZKLFKPD\FDXVHFUDFNLQJRUVHSDUDWLRQLQWKHFRDWLQJUHVLQQHDUWKHURRWDUHD ‫ ٴ‬1RGXVWRUZDWHUVKRXOGEHSHUPLWWHGWRUHPDLQRQWKHVXUIDFHRIFDSDFLWRUWHUPLQDOVDVWKLVPD\FDXVH HOHFWULFDOOHDNDJHRUFRUURVLRQ ‫ ٴ‬:KHQXVHGIRUQRLVHVXSSUHVVLRQEHWZHHQOLQHVDQGEHWZHHQOLQHWRHDUWKZKHQYROWDJHLVPRUHWKDQ 9$&DQGPRUHWKDQ9'&FRYHULQJSHULSKHUDOUHVLQSDUWE\IODPHUHWDUGDQWPDWHULDORUIODPH UHWDUGDQWFDVH IRUDYRLGLQJILUH LVUHFRPPHQGHG ‫& ٴ‬KLSW\SHFDSDFLWRULVGHYHORSHGDVVXPLQJQRUPDOXVHRIVXUIDFHPRXQWLQJSDUWV$EQRUPDOXVH H[ SLOLQJXSWZRFDSDFLWRUVPRXQWLQJFDSDFLWRULQXSULJKWSRVLWLRQHWF VKRXOGQRWEHSHUPLWWHG3OHDVH FRQVXOWXVLQDGYDQFHLIXVHGLQGLIIHUHQWZD\IURPQRUPDO   $GGLWLRQDO3RLQWV ‫ ٴ‬7KHSUHFDXWLRQVLQXVLQJILOPFDSDFLWRUVIROORZWKH-(,7$5&5'n6DIHW\$SSOLFDWLRQ*XLGHIRUIL[G SODVWLFILOPFDSDFLWRUVIRUXVHLQHOHFWURQLFHTXLSPHQW|3OHDVHUHIHUWRWKHDERYHJXLGHOLQH ‫ ٴ‬3URGXFWVSHFLILFDWLRQVPDWHULDOVDQGRWKHUSRLQWVPHQWLRQHGLQWKHFDWDORJPD\EHFKDQJHGZLWKRXW QRWLILFDWLRQ 1RWH 5DWHGYROWDJH 7KHPD[LPXPYROWDJHWKDWFDQEHDSSOLHGFRQWLQXRXVO\LQVSLWHRIWHPSHUDWXUHLVFDOOHGDVWKHUDWHG YROWDJHLQRXUFRPSDQ\,W VGLIIHUHQWIURPWKHVWDQGDUGVRI-,6DQG,(& ‫' ٮ‬HILQLWLRQRIRXUFRPSDQ\ 7KHPD[LPXPYROWDJHWKDWFDQEHDSSOLHGFRQWLQXRXVO\ZLWKLQWKHFDWHJRU\WHPSHUDWXUHUDQJH ‫( ٮ‬YHQZKHQQHHGLQJGHUDWLQJYROWDJHDWKLJKWHPSHUDWXUHWKHYROWDJHDIWHUGHUDWLQJLVFDOOHGWKHUDWHG 7KHUHIRUHWKHPD[LPXPYROWDJHWKDWFDQEHDSSOLHGFRQWLQXRXVO\DWXSSHUFDWHJRU\WHPSHUDWXUHLVEHLQJ DOVRFDOOHGWKHUDWHGYROWDJH 6HS 3ODVWLF)LOP&DSDFLWRUV *XLGHOLQHVDQGSUHFDXWLRQV /HDGW\SH 7DUJHWSURGXFW(&4(岝(&:)岝(&:+岝(&48  6ROGHULQJ 7KHKHDWUHVLVWLQJWHPSHUDWXUHRIWKHILOPFDSDFLWRUYDULHVZLWKWKHW\SHRIGLHOHFWULFILOPVWUXFWXUHRIWKH FDSDFLWRUPDQXIDFWXULQJPHWKRGHWF :KHQPRXQWLQJVHWWKHPRXQWLQJWHPSHUDWXUHVRWKDWWKHFDSDFLWRULQVLGH HOHPHQW WHPSHUDWXUHLVEHORZHU WKDQWKHPRXQWLQJKHDWUHVLVWLQJWHPSHUDWXUHJLYHQEHORZ ,IWKHFDSDFLWRUVJRWKURXJKWKHKLJKWHPSHUDWXUHERWKDIWHUVROGHULQJEHVXUHWRFKHFNWKHWHPSHUDWXUHWLOO GHFUHDVLQJ 7KHUPRFRXSOH‫ك̷ق‬  ‫ق‬0HDVXULQJSRLQW%‫&؟‬DSDFLWRULQVLGH (OHPHQW  0HWDOVSUD\OD\HU &DSDFLWRU   7KHUPRFRXSOH‫ك̷ق‬ 0HDVXULQJSRLQW$‫&؟‬DSDFLWRULQVLGH 0HWDOVSUD\OD\HU  'LHOHFWULF 0RXQWLQJKHDWUHVLVWLQJWHPSHUDWXUH 7\SH 0HDVXULQJSRLQW‫ ڶ‬0HDVXULQJSRLQW‫ڷ‬ (&:) / 9̭)‫؜)̭ع‬9̭)‫)̭ع‬ (&:) $ (&:) / 9̭)‫؜)̭ع‬9̭)‫)̭ع‬ 3RO\SURS\OHQH (&:)(9(&:)*9 (&:+ $ (&:+ 9 (&:)'9 (&:+ & (&:)'9 (&48$(&:)(9 (&4( ) ٦ ٦ ٦ ٦ ٦ ٦ ٦ ٦ ٦ ٦ ‫ص‬ ٦ (&4( % (&4( 7 ‫&(؜‬48/‫&(؜‬48* ‫ص‬ ‫ص‬ ٦ ‫ص‬ &DXWLRQVIRUPRXQWLQJ! ‫ ٴ‬6ROGHUZLWKLQWKHIROORZLQJWHPSHUDWXUHFRQGLWLRQUDQJH 'LSSLQJWLPHVLVZLWKLQWZLFHWKHVHFRQGGLSSLQJ VKRXOGEHFDUULHGDIWHUWKHFDSDFLWRULWVHOIKDVUHWXUQHGWRWKHQRUPDOWHPHSUHUDWXUH ([DPSOH 1RWLFH 7KHVROGHULQJFRQGLWLRQVKRZVRQHH[DPSOH7KHWHPSHUDWXUHRIWKH FDSDFLWRUVGHSHQGRQVHYHUDOSDUDPHWHUVIRUH[DPSOHVROGHULQJPDFKLQH VL]HPDFKLQHVWUXFWXUHWHPSHUDWXUHFRQWUROPHWKRGHWF V 6KRXOGPHDVXUHWKHWHPSHUDWXUHRIWKHFDSDFLWRUVDQGFRQILUPWKH 6 WHPSHUDWXUHXQGHUWKHDERYHWDEOH W &RQGLWLRQV 3:%RDUG 3UHKHDWLQJ &DSDFLWRU 7KLFNQHVV W PP岜RUPRUH 0HDVXUHPHQWWHPSHUDWXUH٦ZLWKLQ PLQXWH %DFNVLGHRIWKH3:%RDUG DURXQGWKHFDSDFLWRU 5DLVHGIURP3:ERDUG &ULPSHGOHDG  ‫ ٴ‬7KHILOPFDSDFLWRUKDVORZHUPRXQWLQJKHDWUHVLVWLQJWHPSHUDWXUHWKDQRWKHUFDSDFLWRUVWKHUHIRUHWKHIROORZLQJ FDXWLRQVDUHQHHGHG $YRLGSDVVLQJWKURXJKDQDGKHVLYHFXULQJRYHQ$IWHUDGKHVLYHFXULQJWKHFDSDFLWRUVKRXOGEHLQVHUWHGLQWKH 3:ERDUGDQGVROGHU :KHQSDVVLQJDQDGKHVLYHFXULQJRYHQEUHDNDJHRIFRDWLQJUHVLQRUGHWHULRUDWLRQLQ FDSDFLWRUFKDUDFWHULVWLFPD\EHFDXVHG ‫ ٴ‬$YRLGUHIORZVROGHULQJ :KHQXVHLQUHIORZVROGHULQJEUHDNDJHRIFRDWLQJUHVLQRUGHWHULRUDWLRQLQFDSDFLWRU FKDUDFWHULVWLFPD\EHFDXVHG 6HS 3ODVWLF)LOP&DSDFLWRUV ‫ ٴ‬:KHQXVLQJLQPXOWLOD\HU3ULQWHGZLULQJERDUGRULQ WKHFDVHRIDFDSDFLWRUZLWKDFRSSHUOHDGZLUHSOHDVH FRQWDFWZLWKXV ,QWKHFDVHRIFRSSHUOHDGZLUHWKH WKHUPDOFRQGXFWLYLW\RIWKHFRSSHUZLUHLVKLJKDQG WKHLQWHUQDOWHPSHUDWXUHRIWKHFDSDFLWRUULVHVUDSLGO\ DQGPD\H[FHHGWKHPRXQWLQJKHDWUHVLVWLQJ WHPSHUDWXUH 7KHUPRFRXSOH WKHSDUWRIPHDVXULQJ &DSDFLWRU 3:%RDUG ‫؝‬ :DVKLQJWKHPRXQWHGERDUGV 7KHILOPFDSDFLWRUYDULHVVLJQLILFDQWO\LQWKHHIIHFWRIZDVKLQJGHSHQGLQJRQWKHVWUXFWXUHDQGPDWHULDODQG JHQHUDOO\LWLVOHVVDIIHFWHGE\&)&RUDOFRKROGHULYDWLYHZDVKLQJVROYHQWDQGLVOLNHO\WREHDIIHFWHGE\KLJKO\SRODU VROYHQW 7KHOHDGW\SHILOPFDSDFLWRULVFRDWHGZLWKDQHSR[\UHVLQH[FHOOHQWLQFKHPLFDOUHVLVWDQFHDQGLVKDUGO\DIIHFWHG E\GHWHUJHQWEXWLWLVUHFRPPHQGHGWREHZDVKHGIRUVKRUWGXUDWLRQ $SSOLFDELOLW\RIGHWHUJHQWVLQILOPFDSDFLWRUVLVOLVWHGIRUUHIHUHQFH ٛ/LVWRIDSSOLFDELOLW\RIGHWHUJHQWVٜ %R[W\SH (&:)( /HDG (&:)* W\SH (&48$ (&48/ (&48* :DWHU 6ROYHQW :DVKLQJFRQGLWLRQ (WKDQRO 8OWUDVRQLFZDVKLQJRULPPHUVLRQZDVKLQJIRUPLQ $OFRKRO ,VRSURS\ODOFRKRO ,3$ 8OWUDVRQLFZDVKLQJRULPPHUVLRQZDVKLQJIRUPLQ )5:8OWUDVRQLFZDVKLQJIRUPLQ٦ 6LOLFRQ ‫)ܒ‬5:18OWUDVRQLFZDVKLQJIRUPLQ٦ ‫)ܒ‬5:6WHDPGU\LQJIRUPLQ٦ +&)&E06 +DORJHQ 8OWUDVRQLFZDVKLQJRULPPHUVLRQZDVKLQJIRUPLQ 3&ROG&OHDQHU6 8OWUDVRQLFZDVKLQJIRUPLQ٦‫ܒ‬,3$XOWUDVRQLFULQVLQJIRUPLQDW 3HWUROHXP RUGLQDU\WHPSHUDWXUH‫ܒ‬KRWDLUGU\LQJIRUPLQ٦ K\GURFDUERQ 7ROXHQH 8OWUDVRQLFZDVKLQJRULPPHUVLRQZDVKLQJIRUPLQ 7HUSHQH&OHDQHU(& 6SUD\ZDVKLQJIRUPLQDWRUGLQDU\WHPSHUDWXUH‫ܒ‬SXULILHGZDWHU 7HUSHQH VSUD\LQJIRUPLQ٦‫ܒ‬KRWDLUGU\LQJIRUPLQ٦ 8OWUDVRQLFZDVKLQJIRUPLQ٦‫ܒ‬ 3XULILHGZDWHU ZLQGIUHHGU\LQJIRUPLQ٦ &OHDQ7KURXJK+ 8OWUDVRQLFZDVKLQJIRUPLQ٦‫ܒ‬SXULILHGZDWHUXOWUDVRQLFZDVKLQJIRU PLQ٦‫ܒ‬KRWDLUGU\LQJIRUPLQ٦ &OHDQ7KURXJK/ 8OWUDVRQLFZDVKLQJIRUPLQ٦‫ܒ‬SXULILHGZDWHUXOWUDVRQLFZDVKLQJIRU PLQ٦‫ܒ‬KRWDLUGU\LQJIRUPLQ٦ &OHDQ7KURXJK0 8OWUDVRQLFZDVKLQJIRUPLQ٦‫ܒ‬SXULILHGZDWHUXOWUDVRQLFZDVKLQJIRU PLQ٦‫ܒ‬KRWDLUGU\LQJIRUPLQ٦ 6XUIDFHDFWLYH &OHDQ7KURXJK/& 8OWUDVRQLFZDVKLQJIRUPLQ٦‫ܒ‬SXULILHGZDWHUXOWUDVRQLFZDVKLQJIRU PLQ٦‫ܒ‬KRWDLUGU\LQJIRUPLQ٦ 3LQH$OSKD676 8OWUDVRQLFZDVKLQJIRUPLQ٦‫ܒ‬SXULILHGZDWHUXOWUDVRQLFZDVKLQJIRU PLQ٦‫ܒ‬KRWDLUGU\LQJIRUPLQ٦ $TXD&OHDQHU6(7 6KRZHUZDVKLQJIRUPLQ٦‫ܒ‬SXULILHGZDWHUXOWUDVRQLFZDVKLQJIRU PLQ٦‫ܒ‬KRWDLUGU\LQJIRUPLQ٦ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ص‬ ‫ٳ‬ ‫ص‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ ‫ٳ‬ /RZUHVLGXHIOX[ 8/)96 ‫ٳ‬ ‫ٳ‬ ,QDFWLYDWHGIOX[ $0 ‫ٳ‬ ‫ٳ‬ ‫ٳ‬:DVKLQJHQDEOHG ¼:DVKLQJGLVDEOHG ‫ص‬1RWFRQILUPHG :DVK IUHH ٛ:DVKIUHHIOX[ٜ 6HS 3ODVWLF)LOP&DSDFLWRUV  7HPSHUDWXUHPHDVXULQJLQVROGHULQJRIILOPFDSDFLWRU :KHQXVLQJILOPFDSDFLWRURIORZKHDWUHVLVWLQJWHPSHUDWXUHLQPRXQWLQJPHDVXUHWKHHOHPHQWWHPSHUDWXUH SURILOHLQPRXQWLQJLQWKHIROORZLQJPDQQHUDQGPDNHVXUHWKHVROGHULQJLVGRQHEHORZWKHKHDWUHVLVWLQJ 3UHSDUDWLRQRIPHDVXULQJVDPSOH! 2SHQDKROHRIDERXW̗PPWRPPLQWKHWRSRIWKHFDSDFLWRUWRWKHPLGGOHRIWKHHOHPHQWDQGLQVHUW WKHUPRFRXSOH ̗7ZLUH DQGIL[ZLWKDGKHVLYH 0HDVXUHPHQWRIWHPSHUDWXUHSURILOH! $VVKRZQEHORZFRQQHFWDWKHUPRFRXSOH  PRIVDPHW\SHDVWKHWKHUPRFRXSOHDWWDFKHGWRWKH FDSDFLWRUWRWKHWKHUPRFRXSOHRIWKHFDSDFLWRUDVVKRZQEHORZ0RXQWWKHVDPSOHRQWKHPRXQWLQJSULQWHG ZLULQJERDUGDQGSDVVLQWRWKHVROGHULQJDQGPRXQWLQJSURFHVVDQGPHDVXUHWKHWHPSHUDWXUHSURILOH &DSDFLWRU 7KHUPRFRXSOH )LQHZLUH 0HDVXUHPHQWLQVWUXPHQW ̗ 3ULQWLQJZLULQJERDUG   P  &DSDFLWRUIRUSUHYHQWLRQRI$&SRZHUVXSSO\ DFURVVWKHOLQH QRLVH ‫ ٴ‬:KHQXVLQJDFDSDFLWRUDFURVVWKHOLQHDVPHDQVIRUSUHYHQWLRQRIQRLVHQRWRQO\LVWKHVXSSO\YROWDJHLV DOZD\VDSSOLHGEXWDOVRDEQRUPDOVXUJHVXFKDVOLJKWQLQJLVDSSOLHGZKLFKPD\OHDGWRVPRNHRUILUH 7KHUHIRUHWKHDFURVVWKHOLQHFDSDFLWRUVDUHVWULFWO\UHJXODWHGLQVDIHW\VWDQGDUGLQHDFKQDWLRQDQGLWLV QHFHVVDU\WRXVHWKHSURGXFWFRQIRUPLQJWRWKHVWDQGDUG )RUXVLQJDFURVVWKHOLQHLQ-DSDQXVHWKHIROORZLQJPRGHOVRUWKHDERYHRYHUVHDVDXWKRUL]HGRQHV (&4( ) 9'& 9$& UDWLQJ (&4( ) 9'& 9$& UDWLQJ (&4( )  %  7 9$& $ UDWLQJ (&4( )  7 9$& $ UDWLQJ +RZHYHUZKHQXVLQJWKH(&4( ) $$(&4( % $(&4( 7 $$UDWLQJPRGHODVDFURVVWKHOLQH FDSDFLWRUDWOHDVWRQHRIWKHIROORZLQJFRQGLWLRQVPXVWEHVDWLVILHG  $YDULVWRUZLWKWKHYROWDJHRIWKHYDOXHRUOHVVVKRZQLQWKHIROORZLQJWDEOHVKRXOGEHFRQQHFWHGWRWKH FDSDFLWRULQSDUDOOHO  $SXOVHYROWDJHPRUHWKDQWKHYDOXHVKRZQLQWKHWDEOHEHORZVKRXOGQRWEHDSSOLHGDFURVVWKHFDSDFLWRU 1RWH :KHQXVLQJWRJHWKHUZLWKYDULVWRUFKHFNWKHYDULVWRUVSHFLILFDWLRQDQGVHOHFWWKHRQHIUHHIURP VXUJHGHWHULRUDWLRQ &DS5DWHG9ROWDJH 9$& $ 9DULVWRU9ROWDJH 9 3XOVH9ROWDJH 9RS 9$& $ 9 9RS :KHQ6DIHW\VWDQGDUGDSSURYDOFDSDFLWRULVXVHGIRUQHFHVVDU\HTXLSPHQWSOHDVHXVHLWHPVRIWKH IROORZLQJWDEOH ٛ5HSUHVHQWDWLYHH[DPSOHVRIPRGHOVDXWKRUL]HGLQPDMRUVDIHW\VWDQGDUGVLQWKHZRUOGٜ 6KDSH 7\SH 6WDQGDUG 3ODVWLFFDVHW\SH (&48$ 8/ 86$ &6$( &DQDGD (1 (XURSH 3ODVWLFFDVHW\SH 3ODVWLFFDVHW\SH (&48/ (&48* 8/ 86$ &6$( &DQDGD (1 (XURSH 8/ 86$ &6$( &DQDGD (1 (XURSH 3OHDVHFRQWDFWXVDERXW&4& &KLQD  ‫ ٴ‬,QWKHFDVHRIWKHYROWDJHGURSSHUXVDJH岜ZKHQDQDEQRUPDOYROWDJHRIWKHVXUJHYROWDJHHWFLVDSSOLHGWKH FDSDFLWDQFHGHFUHDVHLVFDXVHGVXFKDVWKHIXVHIXQFWLRQLQWKHFDSDFLWRURSHUDWHV,QWKHZRUVWFDVHWKH FDSDFLWRUGRHVQRWZRUNDVYROWDJHGURSSHU6RSOHDVHQRWLFHDQDEQRUPDOYROWDJH$WWKDWWLPHKLJKYROWDJH PD\EHDSSOLHGWRWKHORDGVLGH7KHUHIRUHSOHDVHSURYLGHSURWHFWLYHPHDQVIRUVDIHW\ 6HS
ECWF2155JAQ 价格&库存

很抱歉,暂时无法提供与“ECWF2155JAQ”相匹配的价格&库存,您可以联系我们找货

免费人工找货