!
!
T iltak f o r å oppnå! passivh us - o g n u llh u sstandard i rekkeh u sbebyggelse
M
easures to achieve passive-
andzerostandard in row-
housesL ars E rik T o rvik E ikenæs & T o rbj ø rn H u nskaar L ø ve
InstituttformatematiskerealfagogteknologiMasteroppgave30stp.2012
!"#$$%$&'()*+,--.'/*$0120$$ $ $ $
$0$
$ $
!"#$$%$&'()*+,--.'/*$0120$$ $ $ $
$3$
4 56567 !
7*88*$,--.'/*8$*+$(9+*/*)$/*:$!8;/*+(;)*)$<,+$&;=>?%$,.$@;,/;)*8(9'-$A!"#B$/C+*8$
0120$D$6'--,+)*8$E*)*+$FG;=)'9$<,+$C$,--8C$-'((;/EH(%$,.$8H==EH(()'8:'+:$;$
+*99*EH(@*@I..*=(*F$,.$*+$(9+*/*)$(,&$&'()*+,--.'/*$/*:$;8();)H))$<,+$&')*&');(9*$
+*'=<'.$,.$)*98,=,.;D$5--.'/*8$*+$(9+*/*)$;$('&'+@*;:$&*:$#=,J9$K')8*L$,.$:*+*($
-+,(>*9)$;$G+*()'99/*;*8$;$M?+H&$*+$,--.'/*8($('9()H:;H&D$
N;$?8(9*+$C$)'99*$'==*$(,&$E'+$E>H=-*)$,(($,.$@;:+'))$;$'+@*;:*)$&*:$:*88*$,--.'/*8D$O8$
(),+$)'99$+*))*($);=$/C+$/*;=*:*+$<+'$!"#L$GE,&'($PD$GE;;(L$(,&$E'+$E>H=-*)$,(($;$E*=*$
-+,(*((*8D$N;$/;=$,.(C$.>*+8*$)'99*$@;/*;=*:*+*8$/C+$/*:$!"#L$G,+&,:$QH+=;*8D$G'99$);=$
)*98;(9$(>*<$;$#=,J9$K')8*L$M/*++*$P;+9*/,=:L$(,&$E'+$.;))$,(($&'8.*$<'.=;.*$+C:$.>*88,&$
'+@*;:*)D$R$);==*..$/;=$/;$)'99*$9'=9H=')?+$;$#=,J9$K')8*L$GE,+*$P+;(),<<*+(*8L$(,&$;$(),+$
.+':$E'+$E>H=-*)$,((D$G;=$(=H))$/;=$/;$)'99*$P;+();$S;&8*($Q+*$<+'$6'&@?==$<,+$.,:$E>*=-$
98I))*)$);=$9=;&'.'((@*+*.8;8.*+D$
$
$
$
$
$
$
$
5(=,L$2TD1UD0120$
$
$
V'+($O+;9$G,+/;9$O;9*8W($$ $ $ $ $ $G,+@>?+8$XH8(9''+$V?/*$
! !
!"#$$%$&'()*+,--.'/*$0120$$ $ $ $
$T$
M Q""OY76QS $
#I..*@+'8(>*8$*+$'==);:$;$*8:+;8.L$,.$:*$)*98;(9*$<,+(9+;<)*8*$@=*$*8:+*)$@C:*$;$011Z$,.$
0121D$4,9H(*)$-C$*8*+.;*<<*9);/*$@I..$@=;+$()':;.$()?++*L$,.$;$0121$@=*$:*)$H).;))$*8$8,+(9$
()'8:'+:$(,&$'8.;+$9+'/*8*$);=$='/*8*+.;%$,.$-'((;/EH(D$Y,+(9*$&I8:;.E*)*+$?8(9*+$C$
(9>*+-*$@+H9$'/$*8*+.;$;$@I..$,.$-='8=*..*+$8C$C$;88<?+*$9+'/$,&$')$'==*$@I..$(9'=$@I..*($
(,&$-'((;/EH($;88*8$012UD$R$);==*..$/;=$@*.+*-*)$8H==*8*+.;EH($,.$8H==EH($<C$()?++*$
;88-'(($;$8,+(9$@I.8;8.(-,=;);99D$
R$:*88*$,--.'/*8$/H+:*+*($H=;9*$);=)'9$<,+$C$,--8C$-'((;/EH(%$,.$8H==EH(()'8:'+:$;$
+*99*EH(@*@I..*=(*D$$R$('&'+@*;:$&*:$@,=;.H)/;9=*+*8$#=,J9$K')8*$*+$:*)$/'=.)$H)$*)$
+**=)$-+,(>*9)$(,&$:'88*+$.+H88='.$<,+$,--.'/*8D$[+,(>*9)*)$;$G+*()'99/*;*8$;$M?+H&$
9,&&H8*$@*()C+$'/$(I/$=*;=;.E*)*+$;$+*99*$,.$*+$@I..*)$*))*+$GOP1ZD$5--.'/*8$?8(9*+$C$
@*=I(*$E/;=9*$);=)'9$(,&$9'8$.>?+*($&*:$(=;9*$+*99*EH($(=;9$')$:*)$,--<I==*+$9+'/*8*$);=$
-'((;/EH($,.$8H==EH(D$R$);==*..$);=$C$@*=I(*$E/;=9*$@I.8;8.()*98;(9*$);=)'9$(,&$*+$&H=;.*$
,.$'9)H*==*L$/;=$:*88*$,--.'/*8$,.(C$(*$-C$:*)$?9,8,&;(9*$'(-*9)*)$/*:$);=)'9*8*D$4,+$C$
/H+:*+*$,&$:*$H=;9*$);=)'9*8*$<H8.*+*+$=;9*$.,:)$;$H=;9*$9=;&'*+L$/;=$:*$(;&H=*+*($@C:*$-C$
:*8$+**==*$),&)*8$;$M?+H&$9,&&H8*$,.$;$/*()='8:(9,&&H8*8$M,='D$
5--.'/*8$-+*(*8)*+*+$'9)H*==$@'9.+H88()*,+;$<,+$:*$);=)'9*8*$(,&$/H+:*+*(D$7*+*))*+$/;=$
:*)$=*..*($<+*&$H=;9*$);=)'9$(,&$);=-'((*($+*99*EH(*)$;$G+*()'99/*;*8D$#C:*$-'((;/*$,.$
'9);/*$);=)'9$@=;+$/H+:*+)L$,.$'==*$);=)'9*8*$@=;+$(;&H=*+)$;$-+,.+'&&*)$M;&;*8D$
N;+98;8.*8*$'/$);=)'9*8*$@=;+$:*+*))*+$('&&*8();=)L$,.$@C:*$*8*+.;&*((;.*$,.$
?9,8,&;(9*$*<<*9)*+$@=;+$('&&*8=;.8*)D$[C$.+H88='.$'/$+*(H=)')*8*$'/$*89*=));=)'9$@=;+$
:*)$('))$('&&*8$);=)'9(-'99*+$<,+$-'((;/EH($,.$8H==EH($;$@C:*$M?+H&$9,&&H8*$,.$M,='$
9,&&H8*D$R$);==*..$);=$')$:;((*$(;&H=*+*($E/*+$<,+$(*.$$('&&*8=;.8*($:*$&*:$:*)$
,--+;88*=;.*$@I..*)D$M,&$*)$=*::$<,+$C$,--8C$8H==EH($*+$:*)$,.(C$H)<?+)$
9=;&'.'((@*+*.8;8.*+$<,+$C$(*$E/;=9*$);=)'9$(,&$&C$);=$<,+$C$.>?+*$@I..*)$9=;&'8?I)+'=)D$
G;=)'9(-'99*8*$(,&$/*=.*($<,+$:*$<;+*$);=<*==*8*$*+$*8$9,&@;8'(>,8$'/$-'((;/*$,.$'9);/*$
@I.8;8.();=)'9$;$);==*..$);=$*8*+.;<,+(I8;8.();=)'9D$\$@I..*$+*99*EH(*)$;$G+*()'99/*;*8$
(,&$-'((;/EH($/;=$<,+$#=,J9$K')8*$<?+*$);=$*8$&*+9,()8':$-C$9+$]0]L%$,.$9+$^_^L%$-*+$&0$
#6Q$<,+$EE/D$M?+H&$,.$M,='D$G;=)'9*8*$(,&$<,+*(=C($);=$8H==EH(-'99*+$/;=$<,+$#=,J9$K')8*$
<?+*$);=$*8$&*+9,()8':$-C$9+$3$^^_L%$,.$9+$3$T0UL%$-+$&0$#6Q$<,+$EE/D$M?+H&$,.$M,='D$
7;((*$,--<I==*+$;&;:=*+);:$;99*$O8,/'($:*<;8;(>,8$-C$8H==EH(D$#*.+*-*8*$8H==EH($,.$
8H==*8*+.;EH($*+$;99*$*8)I:;.$:*<;8*+)D$M=;9$:*88*$,--.'/*8$:*<;8*+*+$@*.+*-*)$8H==EH(L$
*+$:*)$H)$;$<+'$*8*+.;%$,.$9=;&'.'((@*+*.8;8.*8*$H+*'=;();(9$C$9H88*$@I..*$'==*$@I.8;8.*+$
(,&$8H==EH($;$8W+$<+*&);:D$! !
!"#$$%$&'()*+,--.'/*$0120$$ $ $ $
$U$
Q #MG6Q`G $
GE*$J,8()+HJ);,8$;8:H()+I$;($'=a'I($JE'8.;8.L$'8:$)E*$)*JE8;J'=$+*.H=');,8($a*+*$
'&*8:*:$;8$@,)E$011Z$'8:$0121D$GE*$<,JH($,8$*8*+.I$*<<;J;*8)$@H;=:;8.($;($.+,a;8.L$'8:$
;)$a'($+*=*'(*:$'$Y,+a*.;'8$()'8:'+:$)E')$(-*J;<;*($+*bH;+*&*8)($<,+$=,a%*8*+.I$'8:$
-'((;/*$E,H(*($;8$0121D$GE*$Y,+a*.;'8$.,/*+8&*8)$a'8)($),$;8)*8(;<I$)E*$<,JH($,8$)E*$
J,8(H&&');,8$,<$*8*+.I$;8$@H;=:;8.(L$'8:$)E*I$'+*$-='88;8.$:*&'8:($)E')$'==$@H;=:;8.($
(E'==$@*$@H;=)$@I$)E*$()'8:'+:$,<$-'((;/*$E,H(*($@I$012UD$GE*$)*+&$,<$c*+,$*8*+.I%$'8:$
c*+,$E,H(*($a;==$'=(,$@*$&,+*$;&-,+)'8)$;8$)E*$Y,+a*.;'8$@H;=:;8.$-,=;JID$
GE;($+*-,+)$*/'=H')*($/'+;,H($&*'(H+*($),$'JE;*/*$)E*$()'8:'+:$,<$-'((;/*$E,H(*%$'8:$
c*+,$E,H(*($;8$)*++'J*:$E,H(*(D$R8$J,,-*+');,8$a;)E$)E*$E,H(;8.$:*/*=,-*+$#=,J9$K')8*$
;)$;($(*=*J)*:$'$+*'=$J'(*$)E')$<,+&($)E*$@'(;($<,+$)E;($)'(9D$GE*$-+,>*J)L$G+*()'99/*;*8L$;8$
M?+H&$J,8(;()($,<$(*/*8$'-'+)&*8)($;8$'$+,a$'8:$;($@H;=)$),$&**)$a;)E$)E*$GOP1Z$
+*.H=');,8(D$GE;($+*-,+)$a'8)*:$),$98,a$aE')$J,H=:$@*$:,8*$),$&**)$)E*$+*bH;+*&*8)($
<,+$-'((;/*%$'8:$c*+,$E,H(*($;8$)E;($-'+);JH='+$-+,>*J)D$R8$'::;);,8$),$*d'&;8*$)E*$
-,((;@=*$)*JE8;J'=$&*'(H+*(L$)E;($+*-,+)$'=(,$*d'&;8*($)E*$*J,8,&;J$'(-*J)$,<$)E*(*$
&*'(H+*(D$G,$'((*(($aE;JE$*<<*J)$)E*$/'+;,H($&*'(H+*($E'/*$;8$:;<<*+*8)$J=;&')*(L$)E*I$
a;==$@*$(;&H=')*:$;8$@,)E$)E*$+*'=$(;)*$;8$M?+H&$'8:$;8$'$(;)*$;8$M,='D$
GE;($+*-,+)$-+*(*8)($)E*$+*=*/'8)$)E*,+I$<,+$)E*$J,8(;:*+*:$&*'(H+*(D$R)$a;==$'=(,$
-+*(*8)$/'+;,H($&*'(H+*($':'-)*:$),$)E*$)*++'J*$E,H(*$;8$G+*()'99/*;*8D$#,)E$-'((;/*$
'8:$'J);/*$&*'(H+*($'+*$*/'=H')*:L$'8:$'==$&*'(H+*($'+*$(;&H=')*:$;8$)E*$-+,.+'&$
M;&;*8D$GE*$*<<*J)($,<$)E*(*$&*'(H+*($'+*$)E*8$J,&-=;*:L$'8:$@,)E$*8*+.I$'8:$*J,8,&;J$
*<<*J)($'+*$J,&-'+*:D$58$)E*$@'(;($,<$)E*$+*(H=)($,<$)E*$;8:;/;:H'=$&*'(H+*(L$-'J9'.*($,<$
&*'(H+*($<,+$-'((;/*$'8:$c*+,$E,H(*($a;==$@*$J,&-,(*:$@,)E$;8$M?+H&$'8:$M,='D$Q($-'+)$
,<$'JE;*/;8.$'$c*+,$E,H(*$;)$;($'=(,$J,8:HJ)*:$.+**8E,H(*$.'($J'=JH=');,8($),$'((*(($)E*$
8**:*:$&*'(H+*($),$&'9*$)E*$@H;=:;8.$J'+@,8$8*H)+'=D$
GE*$-'J9'.*($,<$(*=*J)*:$&*'(H+*($<,+$)E*$<,H+$J'(*($;($'$J,&@;8');,8$,<$-'((;/*$'8:$
'J);/*$@H;=:;8.$&*'(H+*($;8$'::;);,8$),$'$.+**8$*8*+.I$(H--=ID$G,$@H;=:$)E*$+,a$,<$
)*++'J*:$E,H(*$;8$G+*()'99/*;*8$'($'$-'((;/*$E,H(*L$a;==$.;/*$#=,J9$K')8*$'8$'::;);,8'=$
J,()$,<$Y5P$]0]L$%$'8:$Y5P$^_^L$%$-*+$&0$;8:,,+$<=,,+$(-'J*$;8$+*(-*J);/*=I$M?+H&$'8:$
M,='D$GE*$&*'(H+*($-+,-,(*:$),$)E*$)a,$c*+,$E,H(*$-'J9'.*(L$a;==$.;/*$#=,J9$K')8*$'8$
'::;);,8'=$J,()$,<$Y5P$3^^_L$%$'8:$Y5P$3T0UL$%$-*+$&0$;8:,,+$<=,,+$(-'J*$+*(-*J);/*=I$;8$
M?+H&$'8:$M,='D$GE*(*$-'J9'.*($:,$8,)$&**)$)E*$:*<;8;);,8$O8,/'$E'/*$(*)$),$c*+,$
E,H(*(D$GE*$)*+&($c*+,$*8*+.I%$'8:$c*+,$E,H(*($'+*$8,)$J=*'+=I$:*<;8*:D$Q($)E;($+*-,+)$
:*<;8*($)E*$)*+&$c*+,$E,H(*L$;)$;($H8+*'=;();J$),$@H;=:$'==$@H;=:;8.($'($c*+,$E,H(*($;8$)E*$
8*'+$<H)H+*L$@'(*:$,8$)E*$-+*<,+&*:$*8*+.I%$'8:$.+**8E,H(*$.'($J'=JH=');,8(D$! $
R YYX5V7MVRMGO $
"$ #$%&'()*+,'',-.! "/$
0$ ,--'(1-,-.! "2$
03"$ &45.$6--! "2$
030$ 47.$(-*,-.($! "2$
038$ %##.47(-*!%##&9.-,-.! ":$
8$ +(%$,!;!5$47!+,'!(-($.,;!%.!),'<=9+('*($!,!&9..! ">$
83"$ &9..($(.'($!,!-%$.(! ">$
830$ (-($.,5$47!,!+(5-,*5!?%$*5$,?+! ">$
3D0D2$ OYO6SRGRVGQP$ 2]$
3D0D0$ OYO6SR6Q""O$ 2_$
3D0D3$ "RYMGOP6QN$ 02$
3D0DT$ !YYGQP$46Q$6OSVOYO$ 00$
3D0DU$ OYO6SR456MeYRYS$ 00$
838$ #4**,7@6*! 08$
3D3D2$ P5YMO[G$ 03$
3D3D0$ YM$3Z11f0121$P6RGO6RO6$456$[QMMRNX!M$5S$VQNOYO6SRX!ML$#5VRS#eSYRYSO6$ 03$
83/$ -6''@6*! 02$
3DTD2$ P5YMO[G$ 0U$
3DTD0$ PVR"QPN5GO6$ 0^$
832$ (-($.,)($5(+!+,'!-%$.(*!74**1$4.*;!%.!(-($.,1,$(5+%$4+! 0:$
83A$ ,-+($-4*<%-4'!6+&$(1('*(! 0>$
83:$ '(7($,-.!%.!#$%165*<%-!47!(-($.,! 0B$
83>$ 5',)4.4**&($(.-,-.($! 8C$
/$ +(%$,!;!#4$4)(+($(!*%)!#D7,$5($!(-($.,9+('*(-(! 8"$
/3"$ 74$)(+4#! 8"$
TD2D2$ VO7YRYSL$MG6\VRYS$5S$P5YNOPMg5Y$ 32$
TD2D0$ NQ6"OMG6h"$SgOYY5"$OY$P5YMG6!PMg5Y$ 32$
TD2D3$ P!V7O#65NO67RO6$ 30$
TD2DT$ RY4RVG6QMg5Y$ 30$
TD2DU$ P6QN$GRV$NRY7!O6$ 33$
/30$ 74$)(#$%165*<%-!%.!(-($.,?%$*9-,-.! 8A$
TD0D2$ 7R6OPGO$OVOPG6RMRGOG$ 3Z$
TD0D0$ NQ6"O[!"[O$ 3Z$
TD0D3$ S6!YYNQ6"O$ 3]$
TD0DT$ #R5OYO6SR$ T1$
TD0DU$ 45MMRVG$#6OYMOV$ T2$
TD0D^$ M5V4QYSO6O$ T2$
TD0DZ$ M5V`OVVO[QYOV$ T3$
TD0D]$ NRY7SOYO6QG56$ TU$
TD0D_$ SgOY#6!P$QN$S6\NQYY$ TU$
/38$ 7(-+,'4*<%-! /:$
TD3D2$ NOYGRVQMg5YMMeMGO"$ TZ$
TD3D0$ !G456"RYS$QN$QYVOSSOG$ TZ$
TD3D3$ NQ6"OSgOYNRYYO6$ T]$
!"#$$%$&'()*+,--.'/*$0120$$ $ R88E,=:(=;()*$ $ $
$Z$
TD3DT$ PghVRYS$ T]$
TD3DU$ NO7VRPOX5V7$ T_$
/3/$ #'4**($,-.E!6+?%$),-.!%.!&$65! /B$
TDTD2$ SO5"OG6R$ T_$
TDTD0$ V5PQVPVR"Q$ U1$
TDTD3$ SO5S6Q4R$ U0$
2$ +(%$,!F!=5%-%),! 28$
23"$ -D7($1,)(+%1(-! 28$
230$ 54'56'4*<%-*$(-+(! 28$
238$ +,'*5611*%$1-,-.($! 2/$
A$ )(+%1(! 22$
A3"$ *45*+61,(! 22$
^D2D2$ 46O"SQYSM"\GO$ UU$
A30$ 7($5+=9!!;!&$65!%.!4-7(-1('*(! 22$
^D0D2$ OY7Y5GO$ UU$
^D0D0$ MR"ROY$ UU$
^D0D3$ Q6`XR`Q7$ U^$
^D0DT$ PVR"QSQMM6OSYMPQ[DY5$ U^$
^D0DU$ NOV!i$7QeVRSXG$NRM!QVRj56$0$ U]$
:$ +$(*+4557(,(-! 2B$
:3"$ #$%*<(5+(+! 2B$
:30$ &%',.(-@(+(-(! AC$
:38$ +(5-,*5(!,-*+4''4*<%-($! A"$
:3/$ +%)+($! A"$
:32$ 5',)414+4! A0$
>$ (-($.,+,'+45! A/$
>3"$ #$,%$,+($,-.!47!+,'+45! A/$
B$ $(*6'+4+($!F!(5*,*+($(-1(!&9..! AA$
B3"$ &($(.-,-.($!47!(5*,*+($(-1(!&9..! AA$
_D2D2$ OYO6SR#O6OSYRYS$ ^^$
_D2D0$ PVR"QSQMM#O6OSYRYSO6$ ^]$
"C$ $(*6'+4+($!F!(-($.,+,'+45! :"$
"C3"$ 74$)(+4#! :"$
21D2D2$ NOSSO6$ Z2$
21D2D0$ GQP$ Z0$
21D2D3$ S!VN$ Z3$
21D2DT$ NRY7!O6$ Z3$
21D2DU$ 7h6O6$ ZT$
21D2D^$ P!V7O#65O6$ ZT$
21D2DZ$ RY4RVG6QMg5Y$ ZU$
"C30$ (-($.,?%$*9-,-.! :A$
21D0D2$ OVOPG6RMRGOG$ Z^$
!"#$$%$&'()*+,--.'/*$0120$$ $ R88E,=:(=;()*$ $ $
$]$
21D0D0$ #R5OYO6SR$ ZZ$
21D0D3$ 45MMRVG$#6OYMOV$ Z_$
"C38$ #$%16*($+!(-($.,! >C$
21D3D2$ M5V4QYSO6O$ ]1$
21D3D0$ M5V`OVVO[QYOV$ ]3$
21D3D3$ #O6SNQ6"O$ ]T$
21D3DT$ NRY7P6Q4G$ ]^$
21D3DU$ PRV7OMO[Q6O6RYS$QN$QNVh[MNQYY$ ]^$
21D3D^$ NQ6"O[!"[O6$ ]Z$
"C3/$ 5<='(&(@%7! >>$
21DTD2$ M5VQNMPgO6"RYS$ ]]$
21DTD0$ NQ6"OVQS6RYS$ _2$
21DTD3$ 46RPghVRYS$SgOYY5"$NOYGRVQMg5YMQYVOSS$ _2$
21DTDT$ "OPQYRMP$PghVRYS$ _2$
"C32$ 7(-+,'4*<%-! B0$
"C3A$ .(%)(+$,*5!+,'#4*-,-.! B8$
21D^D2$ 56ROYGO6RYSL$GQPNRYPOV$5S$456"$ _3$
21D^D0$ NRY7!$k$Q6OQV$5S$[VQMMO6RYS$ _3$
"C3:$ ?(''(*4-'(..! BA$
21DZD2$ 4OVVOM$#57lGOPYRMP$65"$ _^$
21DZD0$ NQYY#\6OYG$S!VNNQ6"OQYVOSS$ _Z$
"C3>$ ?%$&$65!%.!*+9$,-.! B:$
"C3B$ *4))(-*+,'',-.!47!(-($.,+,'+45! B:$
""$ $(*6'+4+($!F!+,'+45*#455($! "C2$
""3"$ #4**,7@6*!F!*=$6)! "C2$
22D2D2$ NQVSGO$GRVGQP$ 21U$
22D2D0$ MR"!VO6RYSM6OM!VGQG$ 21^$
""30$ #4**,7@6*!F!*%'4! """$
22D0D2$ NQVSGO$GRVGQP$ 222$
22D0D0$ MR"!VO6RYSM6OM!VGQG$ 220$
""38$ -6''@6*!F!*=$6)! "":$
22D3D2$ NQVSGO$GRVGQP$ 22Z$
22D3D0$ MR"!VO6RYSM6OM!VGQG$ 22Z$
22D3D3$ PVR"QSQMM#O6OSYRYS$ 203$
""3/$ -6''@6*!F!*%'4! "02$
22DTD2$ NQVSGO$GRVGQP$ 20U$
22DTD0$ MR"!VO6RYSM6OM!VGQG$ 20^$
22DTD3$ PVR"QSQMM6OSYMPQ[$ 232$
""32$ %##*6))($,-.!47!+,'+45*#455($! "88$
"0$ 1,*56*<%-! "8/$
"03"$ +,'+45*#455($!F!#4**,7@6*! "8/$
20D2D2$ NQ6"OGQ[$ 23T$
20D2D0$ OYO6SR456MeYRYS$ 23Z$
20D2D3$ P5"456G$ 23]$
20D2DT$ hP5Y5"R$ 23_$
"030$ +,'+45*#455($!F!-6''@6*! "/C$
20D0D2$ NQ6"OGQ[$ 2T1$
20D0D0$ OYO6SR456MeYRYS$5S$[657!MO6G$OYO6SR$ 2T2$
20D0D3$ PVR"QYheG6QVRGOG$ 2T0$
20D0DT$ P5"456G$ 2T3$
!"#$$%$&'()*+,--.'/*$0120$$ $ R88E,=:(=;()*$ $ $
$_$
20D0DU$ hP5Y5"R$ 2T3$
"038$ 5',)4*4))(-',.-,-.! "//$
"03/$ *4'.*4$(4'! "//$
"032$ ?(,'5,'1($! "/A$
20DUD2$ SO5"OG6R$ 2T^$
20DUD0$ 456OYPVRYSO6$ 2T^$
20DUD3$ OYO6SRMR"!VO6RYS$R$MR"ROY$ 2T^$
20DUDT$ [6RMO6$ 2TZ$
20DUDU$ hP5Y5"R$ 2T]$
20DUD^$ PVR"QSQMM#O6OSYRYSO6$ 2T]$
"03A$ #4**,7@6*!F!-*8:CCG0C"C!?6''5%))(-H! "/B$
"03:$ -6''@6*!F!@7,'5(!5$47H! "2"$
"03>$ )4$5(1!?%$!5<=#($!(''($!6+&9..($H! "20$
"03B$ @('*(!%.!&%),'<=! "28$
"8$ 5%-5'6*<%-! "2/$
"/$ 7,1($(!4$&(,1! "22$
"/3"$ #%',+,55!?%$!-6''(-($.,@6*!;!(+!$(4',*+,*5!)D'!,!0C0CH! "22$
"/30$ (-($.,'(7($,-.!,!?$()+,1(-! "2A$
"2$ $(?($4-*($! "2:$
"A$ +$95+!7(1'(..*',*+(! "A"$
":$ ('(5+$%-,*5!7(1'(..*',*+(! "A"$
!
$ $
!"#$$%$&'()*+,--.'/*$0120$$ $ 4;.H+=;()*$
$ $ $
$ 21$
4RS!6VRMGOf$
4;.H+$2f$R==H()+'(>,8$'/$*)$@I..($/'+&*@*E,/*)$mN*;=*:8;8.*8$);=$GOP21$n2TLZo$ 00$
4;.H+$0f$6*(H=)')*)$'/$*8$*8*+.;&*+9;8.$m*8*+.;&*+9;8.D8,o$ 0Z$
4;.H+$3f$5--@I.8;8.*8$'/$*)$E?I;(,=*+)$.='(($,.$E/,+:'8$/'+&*l=I(()+C=;8.*8$.C+$.>*88,&$
/;8:H*)$m#PMf$UZ2D_UTo$ 3T$
4;.H+$Tf$R88/;+98;8.*8$'/$<'(':*)I99*=(*8$-C$:'.(=I(<'9),+*8$m#'+@'+'$"')H(;'9o$ 3U$
4;.H+$Uf$4'9),+*+$(,&$-C/;+9*+$(,=);=(9H::$;$@,=;.*8$m#PMf$000D001o$ 3^$
4;.H+$^f$[+;8(;--(9;((*$'/$*8$A/'88$);=$/'88B$/'+&*-H&-*$m#PMf$UU0DT13o$ 3]$
4;.H+$Zf$[+;8(;--(9;((*$'/$*8*+.;@+?88$&*:$=H99*)$9,==*9),+$m8.HD8,o$ 3_$
4;.H+$]f$M)+C=;8.*8$;=?-*)$'/$*8$:'.$&,)$*8$E,+;(,8)'=$<=')*$mF4,+8I@'+$*8*+.;$011ZFo$ T2$
4;.H+$_f$5--@I..;8.*8$'/$*8$-='8$(,=<'8.*+$m#PMf$UU0DTUUo$ T0$
4;.H+$21f$[+;8(;--(9;((*$'/$*)$()'8:'+:$(,=/'+&*'8=*..$m#PMf$UU0DTUUo$ T3$
4;.H+$22f$M,=J*==*-'8*=$;$*)$8*));=98I))*)$'8=*..$maaaD)E**8.;8*+DJ,DH9o$ TT$
4;.H+$20f$N;8:)H+@;8*+$);=$&;8:+*$'8=*..D$maaaDH9D'==D@;co$ TU$
4;.H+$23f$N'+&*.>*8/;888;.$'/$.+C/'88$maaaD,(,E,)a')*+D8,o$ T^$
4;.H+$2Tf$[+;8(;--$<,+$*8$/'+&*.>*8/;88*+$m#PMf$UU0D3T1o$ T]$
4;.H+$2Uf$\+(&;::*=8*:@?+L$C+(&;::*=)*&-*+')H+$,.$Pp--*8($9=;&'(,8*+$maaaD&*)D8,o$ U1$
4;.H+$2^f$X/,+:'8$/;8:H)(*));8.*8$-C$*8$@,=;.$9'8$+*:H(*+*($/*:$E>*=-$'/$'8:+*$*=*&*8)*+$-C$
),&)*8$m#PMf$000D001o$ U2$
4;.H+$2Zf$",:*==()+H9)H+*8$;$aaaD9=;&'.'((+*.8(9'-D8,$ UZ$
4;.H+$2]f$R==H()+'(>,8$'/$-+,(>*9)*)$;$G+*()'99/*;*8$maaaD@=,J9a')8*D8,o$ U_$
4;.H+$2_f$[='8)*.8;8.*+$'/$q8$=*;=;.E*)$maaaD@=,J9a')8*D8,o$ ^1$
4;.H+$01f$G,&)*8$:*+$G+*()'99/*;*8$*+$@I..*)$maaaD@=,J9a')8*D8,o$ ^2$
4;.H+$02f$S+'<;(9$<+*&();==;8.$'/$),)'=)$8*)),$8*+.;@*E,/L$=*/*+)$*8*+.;$);=$@I.8;8.*8$,.$
/'+&*)'-(@H:(>*))$ ^Z$
4;.H+$00f$!)(=;--$,.$9=;&'8I))*$%$9=;&'.'((@*+*.8;8.$ Z1$
4;.H+$03f$[+;8(;--$<,+$/*..,--@I.8;8.$<,+$'==*$/*..);=)'9*8*$ Z2$
4;.H+$0Tf$N;8:H(;88(*));8.$(,&$+*:H(*+*+$8,+&'=;(*+)$9H=:*@+,/*+:;$m#PMf$TZ2D12Zo$ ZT$
4;.H+$0Uf$7,@@*=$/;8:)*));8.$*+$*)$'/$);=)'9*8*$<,+$C$@*:+*$=*99'(>*)'==*)$m!8;9H(lY,+:@,EH(o$ Z^$
4;.H+$0^f$[*==*)(9'&;8$O:.*^1$m[*;((*=(9'@*)D8,o$ ZZ$
4;.H+$0Zf$N*:-*;(*8$N;(;,8$V;8*$`3^$m[*;((*=(9'@*)D8,o$ Z]$
4;.H+$0]f$[*==*)(9>*=$,.$-*==*)((;=,$<+'$XH(*$#;,/'+&*$maaaDEH(*@;,/'+&*D8,o$ Z]$
4;.H+$0_f$[+;8(;--(9;((*$<,+$-*==*)('8=*..*)$maaaDEH(*@;,/'+&*D8,o$ Z_$
4;.H+$31f$Q/*8)'$M,='+($(,=<'8.*+'8=*..$-C$(I:/*..*8$ ]1$
4;.H+$32f$M'&&*8E*8.*8$&*==,&$/'+&*@*E,/L$(,=*8*+.;$,.$9>?-)$*8*+.;$ ]2$
4;.H+$30f$N';=='8)($-+;8(;--(9;((*$<,+$(,=<'8.*+'8=*..$-C$(I:/*..*8$ ]0$
4;.H+$33f$N';=='8)($;==H()+'(>,8$-C$E/'$(,=<'8.*+'8=*..*)$9'8$=*/*+*$'/$),)'=)$*8*+.;@*E,/$ ]0$
4;.H+$3Tf$M,=J*==*-'8*=$-C$)'9$m@+;)(,='+DJ,&o$ ]T$
4;.H+$3Uf$",:*==*8$);=$@*+./'+&*L$N';=='8)$NKM$001$/'+&*-H&-*$maaaD/';=='8)D8,o$ ]U$
!"#$$%$&'()*+,--.'/*$0120$$ $ 4;.H+=;()*$
$ $ $
$ 22$
4;.H+$3^f$[+;8(;--$<,+$";=>?:H(>$mY,+(9$N'+*E'8:*=o$ ]Z$
4;.H+$3Zf$#=,J9$K')8*($-'((;/EH($maaaD@=,J9a')8*D8,o$ ]_$
4;.H+$3]f$R==H()+'(>,8$'/$E/,+:'8$);=)'9*)$-'((;/$(,='/(9>*+&;8.$mV?/*L$0120o$ ]_$
4;.H+$3_f$!)/*8:;.$-*+(;*88*$[+*(;:*8)$U1$maaaD8,+(,=D8,o$ _1$
4;.H+$T1f$R==H()+'(>,8$,.$&C=$-C$'..+*.')*)$M-;+;)$H8;3$m4=*d;)L$0120o$ _0$
4;.H+$T2f$S>*88,&(8;))=;.$:'.(=I(<'9),+$k$.>*()*+,&D$ _T$
4;.H+$T0f$S>*88,&(8;))=;.$:'.(=I(<'9),+$k$(,/*+,&$0D*)'(>*D$ _U$
4;.H+$T3f$S>*88,&(8;))=;.$:'.(=I(<'9),+$%$()H*$ _^$
4;.H+$TTf$G*&-*+')H+*8$,/*+$:?.8*)$;$:;&*8(>,8*+*8:*$(,8*$<,+$-'((;/EH($;$M?+H&$ 21Z$
4;.H+$TUf$G*&-*+')H+*8$,/*+$:?.8*)$;$,--E,=:((,8*8$<,+$-'((;/EH($;$M?+H&$ 21Z$
4;.H+$T^f$G*&-*+')H+*8$,/*+$:?.8*)$;$:;&*8(>,8*+*8:*$(,8*$<,+$-'((;/EH($;$M,='$ 223$
4;.H+$TZf$G*&-*+')H+*8$,/*+$:?.8*)$;$,--E,=:((,8*8$<,+$-'((;/EH($;$M,='$ 223$
4;.H+$T]f$G*&-*+')H+*8$,/*+$:?.8*)$$:;&*8(>,8*+*8:*$(,8*$<,+$*)$8H==EH($;$M?+H&$ 22_$
4;.H+$T_f$G*&-*+')H+*8$,/*+$:?.8*)$;$,--E,=:((,8*8$<,+$*)$8H==EH($;$M?+H&$ 22_$
4;.H+$U1f$!)(=;--$,.$9=;&'8I))*$k$9=;&'.'((@*+*.8;8.L$8H==EH($;$M?+H&$ 20T$
4;.H+$U2f$G*&-*+')H+*8$,/*+$:?.8*)$;$:*8$:;&*8(>,8*+*8:*$(,8*8$<,+$*)$8H==EH($;$M,='$ 20Z$
4;.H+$U0f$G*&-*+')H+*8$,/*+$:?.8*)$;$,--E,=:((,8*8$);=$*)$8H==EH($;$M,='$ 20Z$
4;.H+$U3f$!)(=;--$,.$9=;&'8I))*$k$P=;&'.'((@*+*.8;8.L$8H==EH($;$M,='$ 230$
$
!"#$$%$&'()*+,--.'/*$0120$$ $ G'@*==;()*$
$ 20$
GQ#OVVRMGOf$$
G'@*==$2f$N;(*+$:*$H=;9*$9='((*8*$'/$);=)'9$,.$E/;=9*$9+'/$:*)$*+$('))$);=$:*D$G'@*==*8$*+$.>*8.;))$<+'$
GOP21L$n2T%3D$ 2_$
G'@*==$0f$O8*+.;+'&&*+$<,+$H=;9*$@I.8;8.()I-*+$@'(*+)$-C$@*+*.8*)$('&=*)$8*)),$*8*+.;@*E,/D$ 01$
G'@*==$3f$";8()*9+'/$<,+$/'+&*.>*88,&.'8.$,.$)*))E*)$<,+$@C:*$);=)'9(%$,.$+'&&*&,:*==*8$
mGOP21$n2T%Uo$ 02$
G'@*==$Tf$4,+E,=:*)$&*==,&$:*$/'8=;.()*$!%/*+:;*8*$-C$/;8:H*+$,.$E/'$:*))*$H).>?+$<,+$E/,+$&I*$
.='(($&'8$9'8$E'$*))*+$GOP21$(;))$&;8()*9+'/$;$n2TDU$ 00$
G'@*==$Uf$P+'/$);=$/'+&*)'-()'==$;$-'((;/EH($m)'@*==$0$;$$YM$3Z11o$ 0T$
G'@*==$^f$P+'/$);=$E?I*()*$@*+*.8*:*$8*)),$*8*+.;@*E,/$);=$,--/'+&;8.$mG'@*==$3$YM$3Z11o$ 0T$
G'@*==$Zf$";8()*9+'/$);=$@I.8;8.(:*=*+L$9,&-,8*8)*+$,.$=*99'(>*)'==$;$-'((;/EH($m)'@*==$U$;$YM$
3Z11o$ 0U$
G'@*==$]f$X/;=9*$$/'8=;.*$9,&@;8'(>,8*+$'/$/'+&*9;=:*+$(,&$/;=$.;$:*$H=;9*$<'+.*8*$A9'+'9)*+*8*B$
;$*8*+.;&*+9*)$m*8*+.;&*+9;8.D8,o$ 0]$
G'@*==$_f$O8:+;8.*+$'/$(,=;88()+C=;8.$-C$*8$-='8$(,=<'8.*+$(*))$;$<,+E,=:$);=$:*)$,-);&'=*$A(?+L$&*:$
*8$/;89*=$-C$TUrB$m#PMf$UU0DTUUo$ T0$
G'@*==$21f$X/,+:'8$/'+&*)'-*)$-C$@,=;.*+$@=;+$+*:H(*+)$/*:$C$+*:H(*+*$,/*+<=')*'+*'=*)$m#PMf$
000D001o$ U1$
G'@*==$22f$P=;&':')'$<+'$(;&H=*+;8.(-+,.+'&&*)$M;&;*8$(;8$*.*8$:')'@'(*$mM;&;*8o$ ^0$
G'@*==$20f$M'&&*8();==;8.$'/$9=;&':')'$-C$:*$),$),&)*8*$m"*)*,+,=,.;(9$;8();)H))o$ ^3$
G'@*==$23f$G;=)'9$(,&$(9'=$(;&H=*+*($ ^U$
G'@*==$2Tf$Q+*'=*+$,.$*.*8(9'-*+$-C$G+*()'99/*;*8$(=;9$:*)$*+$@I..*)D$ ^^$
G'@*==$2Uf$O8*+.;@H:(>*))*)$);=$:*)$*9(;()*+*8:*$@I..*)$;$G+*()'99/*;*8$ ^Z$
G'@*==$2^f$#*+*.8*)$C+=;.$9=;&'.'((H)(=;--$'/$*9(;()*+*8:*$@I..$;$G+*()'99/*;*8$ ^]$
G'@*==$2Zf$#*+*.8*:*$H)(=;--$<+'$+;/;8.(<'(*8$ ^_$
G'@*==$2]f$!)(=;--$,.$9=;&'8I))*$k$P=;&'.'((@*+*.8;8.L$*9(;()*+*8:*$@I..$ Z1$
G'@*==$2_f$!)+*.8;8.$'/$8,+&'=;(*+)$9H=:*@+,/*+:;$*))*+$);=)'9$21D2D^$k$R$ ZU$
G'@*==$01f$O8*+.;/;+9;8.$'/$sG;=)'9$,.$@*(-'+*=(*+s$;$M?+H&$9,&&&H8*$ _]$
G'@*==$02f$O8*+.;/;+98;8.$'/$FO8*+.;<,+(I8;8.*+F$;$M?+H&$9,&&H8*$ __$
G'@*==$00f$O8*+.;/;+9;8.$'/$sG;=)'9$,.$@*(-'+*=(*+s$;$M,='$9,&&&H8*$ 211$
G'@*==$03f$O8*+.;/;+98;8.$'/$FO8*+.;<,+(I8;8.*+F;$M,='$9,&&H8*$ 212$
G'@*==$0Tf$h9,8,&;$-C$;8/*()*+;8.();:(-H89)$<,+$'==*$);=)'9$ 210$
G'@*==$0Uf$h9,8,&;$;$:+;<)(<'(*$<,+$'==*$);=)'9$ 213$
G'@*==$0^f$h9,8,&;$;$=?-*)$'/$=;/(=?-*)$<,+$'==*$);=)'9$ 21T$
G'@*==$0Zf$G;=)'9(-'99*$%$['((;/EH(L$(?+H&$ 21U$
G'@*==$0]f$#*+*.8*:*$N'+&*)'-()'==$<,+$-'((;/EH($;$M?+H&$ 21^$
G'@*==$0_f$#*+*.8*)$P>?=*@*E,/$*))*+$=,9'=)$9=;&'$<,+$-'((;/EH($;$M?+H&$ 21^$
G'@*==$31f$#*+*.8*)$,--/'+&;8.(@*E,/$*))*+$9=;&'$,.$*8*+.;<,+(I8;8.$<,+$-'((;/EH($;$M?+H&$ 21]$
G'@*==$32f$";8()*9+'/$);=$@I.8;8.(:*=*+L$9,&-,8*8)*+$,.$=*99'(>*)'==$<,+$-'((;/EH($;$M?+H&$ 21]$
!"#$$%$&'()*+,--.'/*$0120$$ $ G'@*==;()*$
$ 23$
G'@*==$30f$#*+*.8*)$C+=;.$H)(=;--$'/$9'+@,8:;,9(;:$<,+$-'((;/EH($;$M?+H&$ 21]$
G'@*==$33f$#*+*.8*)$C+=;.$*8*+.;@H:(>*))$<,+$*)$-'((;/EH($;$M?+H&$ 21_$
G'@*==$3Tf$#*+*.8*)$V*/*+)$*8*+.;$);=$*)$-'((;/EH($;$M?+H&$ 21_$
G'@*==$3Uf$#*+*.8*)$:*98;8.(.+':$/*:$;8()'==*+)$*<<*9)$ 221$
G'@*==$3^f$G;=)'9(-'99*$%$['((;/EH(L$M,='$ 222$
G'@*==$3Zf$#*+*.8*:*$N'+&*)'-()'==$<,+$-'((;/EH($;$M,='$ 220$
G'@*==$3]f$#*+*.8*)$P>?=*@*E,/$*))*+$=,9'=)$9=;&'$<,+$-'((;/EH($;$M,='$ 220$
G'@*==$3_f$#*+*.8*)$,--/'+&;8.(@*E,/$*))*+$9=;&'$,.$*8*+.;<,+(I8;8.$<,+$-'((;/EH($;$M,='$ 22T$
G'@*==$T1f$5--)+*:*8:*$/*+:;*+$A,.$&;8()*9+'/B$);=$@I.8;8.(:*=*+L$9,&-,8*8)*+$,.$=*99'(>*)'==$
<,+$-'((;/EH($;$M,='$ 22T$
G'@*==$T2f$#*+*.8*)$C+=;.$H)(=;--$'/$9'+@,8:;,9(;:$<,+$-'((;/EH($;$M?+H&$ 22T$
G'@*==$T0f$#*+*.8*)$C+=;.$*8*+.;@H:(>*))$<,+$*)$-'((;/EH($;$M,='$ 22U$
G'@*==$T3f$#*+*.8*)$V*/*+)$*8*+.;$);=$*)$-'((;/EH($;$M,='$ 22U$
G'@*==$TTf$#*+*.8*)$:*98;8.(.+':$/*:$;8()'==*+)$*<<*9)$<,+$-'((;/EH($;$M,='$ 22^$
G'@*==$TUf$G;=)'9(-'99*$%$YH==EH(L$M?+H&$ 22Z$
G'@*==$T^f$#*+*.8*:*$N'+&*)'-()'==$<,+$*)$8H==EH($;$M?+H&$ 22]$
G'@*==$TZf$#*+*.8*:*$)*+&;(9*$<,+E,=:$<,+$*)$8H==EH($;$M?+H&$ 22]$
G'@*==$T]f$#*+*.8*)$,--/'+&;8.(@*E,/$*))*+$9=;&'$,.$*8*+.;<,+(I8;8.$<,+$*)$8H==EH($;$M?+H&$ 201$
G'@*==$T_f$5--)+*:*8:*$/*+:;*+$A,.$&;8()*9+'/B$);=$$@I.8;8.(:*=*+L$9,&-,8*8)*+$,.$=*99'(>*)'==$
<,+$*)$8H==EH($;$(?+H&$ 201$
G'@*==$U1f$#*+*.8*)$-+,:H(*+)$*8*+.;$,.$C+=;.$@*(-'+*=(*$'/$`50$<,+$*)$8H==EH($;$M?+H&$$ 202$
G'@*==$U2f$#*+*.8*)$C+=;.$*8*+.;@H:(>*))$<,+$*)$8H==EH($;$M?+H&$ 202$
G'@*==$U0f$#*+*.8*)$C+=;.$=*/*+)$*8*+.;$);=$*)$8H==E=H($;$M?+H&$ 200$
G'@*==$U3f$#*+*.8*)$:*98;8.(.+':$/*:$;8()'==*+)$*<<*9)$;$*)$8H==EH($;$M?+H&$ 200$
G'@*==$UTf$!)(=;--$,.$9=;&'8I))*$k$P=;&'.'((@*+*.8;8.L$8H==EH($;$M?+H&$ 203$
G'@*==$UUf$G;=)'9(-'99*$%$YH==EH(L$M,='$ 20U$
G'@*==$U^f$#*+*.8*:*$/'+&*)'-()'==$<,+$*)$8H==EH($;$M,='$ 20^$
G'@*==$UZf$#*+*.8*:*$)*+&;(9*$<,+E,=:$<,+$*)$8H=EH($;$M,='$ 20^$
G'@*==$U]f$#*+*.8*)$,--/'+&;8.(@*E,/$<,+$*)$8H==EH($;$M,='$ 20]$
G'@*==$U_f$5--)+*:*8:*$/*+:;*+$A,.$&;8()*9+'/B$);=$@I.8;8.(:*=*+L$9,&-,8*8)*+$,.$=*99'(>*)'==$
<,+$*)$8H==EH($;$M,='$ 20]$
G'@*==$^1f$#*+*.8*)$C+=;.$-+,:H(*+)$*8*+.;$,.$@*(-'+*=(*$'/$`50$<,+$*)$8H==EH($;$M5='$ 20_$
G'@*==$^2f$#*+*.8*)$C+=;.$*8*+.;@H:(>*))$<,+$*)$8H==EH($;$M,='$ 20_$
G'@*==$^0f$#*+*.8*)$=*/*+)$*8*+.;$);=$*)$8H==EH($;$M,='$ 231$
G'@*==$^3f$#*+*.8*)$:*98;8.(.+':$/*:$;8()'==*+)$*<<*9)$;$*)$8H==EH($;$M,='$ 231$
G'@*==$^Tf$!)(=;--$,.$9=;&'8I))*$k$P=;&'.'((@*+*.8;8.L$8H==EH($;$M,='$ 232$
G'@*==$^Uf$G;=)'9(-'99*+$k$['((;/EH($,.$8H==EH($ 233$
G'@*==$^^f$O8:+;8.$;$#+H9('+*'=$A#6QB$*))*+$*8:+;8.$'/$/*..)I99*=(*$,.$<*==*($)*98;(9$+,&$;$
G+*()'99/*;*8$ 2TU
!"#$$%$&'()*+,--.'/*$0120$$ $ 2$[+,@=*&();==;8.$
$ 2T$
2 [ 65#VO"MGRVVRYS $
7*88*$,--.'/*8($-+;&W+*$&C=$*+$C$<;88*$*8$('&=;8.$'/$);=)'9$(,&$('&&*8$9H88*$@=;))$
@+H9)$;$#=,J9$K')8*($-+,(>*9)$;$G+*()'99/*;*8$;$M?+H&$9,&&H8*L$(=;9$')$:*88*$
@I.8;8.*8$9H88*$,--8C::$-'((;/EH(%$,.$8H==EH(()'8:'+:D$$N;:*+*$(9'=$,--.'/*8$
/H+:*+*$'=)*+8');/*$);=)'9L$,.$);=)'9(-'99*8*$(9'=$/*=.*($H)$<+'$*)$+*'=;();(9$,.$?9,8,&;(9$
.+H88='.D$#=,J9$K')8*$(9'=$<+'$:*88*$,--.'/*8$;88E*8)*$);==*..(9,()8':$-*+$&0$#6Q$
<,+$C$,--8C$-'((;/EH(%$,.$8H==EH(()'8:'+:$;$<,+E,=:$);=$:*)$*9(;()*+*8:*$-+,(>*9)*)$(,&$
*+$$@I..*)$*))*+$GOP1ZD$6*(H=)')*+$(9'=$<+*&(9'<<*($<,+$:*8$+**==*$=,9'=;)*)*8$;$M?+H&$
9,&&H8*$,.$<,+$*8$)*89)$),&)$;$M,='$9,&&H8*$<,+$C$@*=I(*$);=)'9*8*($*<<*9)$;$H=;9*$
9=;&'*+D$$
$
$
!"#$$%$&'()*+,--.'/*$0120$$ $ 0$R88=*:8;8.$
$ 2U$
0 R YYVO7YRYS$ $
0D2 #
QPS6!YY$
7*88*$,--.'/*8$+*))*+$<,9H($&,)$:*)$9'8(9>*$E*)*()*$)*&'*)$;$8,+(9$@I.8;8.(-,=;);99D$
O8*+.;@+H9$;$@I.8;8.*+$H).>?+$;$Y,+.*$J'D$T1t$'/$:*)$),)'=*$*8*+.;<,+@+H9*)$m2oD$M;:*8$
(-'+*-,)*8(;'=*)$*+$,--$;$&,)$01t$*+$:*))*$8,*$E*=*$@+'8(>*8$&C$<,+E,=:*$(*.$);=L$,.$;$
);==*..$@=;+$'==*$H)*8<,+$@I..*@+'8(>*8$*8)*8$:;+*9)*$*==*+$;8:;+*9)*$@*+?+)D$M,&$*8$<?=.*$
'/$:*)$?9)*$<,9H(*)$&,)$E/,+:'8$/;$:;(-,8*+*+$*8*+.;*8$;$@I..*8*$E'+$:*)$:*$(;()*$C+*8*$
:H99*)$,--$8I*$@*.+*-*+$98I))*)$);=$@,=;.@I..;8.D$7*)$<?+()*$-'((;/EH(*)$@=*$@I.:$;$
Y,+.*$;$011Z$m0oL$,.$(;:*8$:*))*$E'+$,.(C$@*.+*-*8*$8H==EH($,.$-=H((EH($@=;))$*8$:*=$'/$
@+'8(>*8($,.$-,=;);9*+8*($/,9'@H='+D$$
5--.'/*8$*+$(9+*/*)$;$('&'+@*;:$&*:$#=,J9$K')8*L$(,&$*+$*)$(*=(9'-$;$#KS$X,&*($
QMQD$#=,J9$K')8*$E'+$@I..*)$@,=;.*+$(;:*8$2_U1%)'==*)$,.$E'+$/W+)$&*:$-C$C$(*))*$
()'8:'+:*8$<,+$8,+(9*$EH($,.$@,=;.,&+C:*+$m3oD$#=,J9$K')8*$*+$:*8$()?+()*$'/$:*$
<+;))()C*8:*$@,=;.H)/;9=*+8*$;$='8:*)$,.$/;=$H)/;9=*$@+'8(>*8$/;:*+*$,.$/W+*$
<+*&);:(+*))*:*D$7*$E'+$:*+<,+$H)/;9=*)$,.$@I..*)$(;8*$<?+()*$-'((;/EH(D$7*88*$,--.'/*8$
?8(9*+$C$@*=I(*$&H=;.E*)*8*$,.$&*+9,()8':*8*$/*:$C$,--8C$-'((;/EH(%$,.$
8H==EH(()'8:'+:$;$*)$)I-;(9$+*99*EH($(,&$:*$E'+$@I..*)D$
[C$.+H88$'/$:*$(;()*$C+($<,9H(*+;8.$-C$*8*+.;*<<*9);/*$@I..$E'+$:*)$<=*+*$.'8.*+$9,&&*)$
*8:+;8.*+$;$+*.*=/*+9*)D$7*)$9,&$@C:*$;$011Z$,.$0121$8I*$)*98;(9*$<,+(9+;<)*+$(,&$'==*$
8I@I..$(9'=$<?=.*D$R$0121$@=*$:*)$;$);==*..$H).;))$*8$()'8:'+:L$YM3Z11L$(,&$'8.;+$9+;)*+;*+$
);=$-'((;/EH($(,&$@,=;.@I..D$[C$.+H88='.$'/$:*88*$()'8:'+:*8$*+$*8$);=(/'+*8:*$
()'8:'+:$<,+$I+9*(@I..$H)*$);=$E?+;8.$;$0120L$,.$&I8:;.E*)*8*($'+@*;:$/;=$.'+'8)*+)$
<,+)(*))*$;$<+*&);:*8D$7*8$0UD1TD20$-+*(*8)*+)*$+*.>*+;8.*8$*8$8I$9=;&'&*=:;8.$:*+$:*)$
(*))*($&C=$,&$')$'==*$8I@I..$@I..*($(,&$-'((;/EH($;88*8$012U$,.$(,&$8*()*8$
8H==*8*+.;@I..$;88*8$0101D$4+*&);:*8($@I..*@+'8(>*$;$Y,+.*$/;=$H)*8$)/;=$/W+*$-+*.*)$
'/$*8*+.;*<<*9);/*$=?(8;8.*+L$(C$:*+<,+$*+$,--.'/*8($)*&');99$(/W+)$'9)H*==D$$
0D0 Q
NS6OYMRYSO6$
5--.'/*8($)*&'$*+$(),+)L$,.$-+,@=*&();==;8.*8$;$(*.$(*=/$.;+$.+H88='.$<,+$@+*:*$
H8:*+(?9*=(*+D$7*)$*+$:*+<,+$/;9);.$C$:*<;8*+*$9,89+*)*$'/.+*8(;8.*+$<?+$H)'+@*;:*=(*8$
'/$:*88*$,--.'/*8D$$
M'9()H:;*)$;$,--.'/*8$*+$@'(*+)$-C$:*)$,--<?+)*$+*99*EH(*)$G+*()'99/*;*8$;$M?+H&$
9,&&H8*L$(,&$*+$@*(9+*/*)$;$9'-;))*=$ZD$7*)$*+$;$#=,J9$K')8*($;8)*+*((*$C$@+H9*$:*8$
!"#$$%$&'()*+,--.'/*$0120$$ $ 0$R88=*:8;8.$
$ 2^$
*9(;()*+*8:*$'+9;)*9)H+*8$,.$),&)*8$(,&$-+*&;((*+$<,+$,--.'/*8($'+@*;:D$7*))*$@*)I+$
')$);=)'9$(,&$(9'=$*/'=H*+*($(9'=$E'$&;8;&'=$'+9;)*9),8;(9$;88/;+98;8.$8C+$:*)$.>*=:*+$
@I..*)($.*,&*)+;L$,.$@I..*)$(9'=$=;..*$:*+$:*)$*+$@I.:$,.$,+;*8)*+)$(=;9$:*)$<'9);(9$*+D$
S+H88*8$);=$:*))*$*+$')$,--.'/*8$?8(9*+$C$<;88*$H)$E/,+:'8$'99H+')$(=;9*$-+,(>*9)$9'8$
=?(*($<,+$C$);=<+*:(();==*$:*$&C=*8*$(,&$*+$8*/8)$;$-+,@=*&();==;8.*8D$7*))*$*+$*)$)I-;(9$
-+,(>*9)$<,+$#=,J9$K')8*L$,.$:*$9'8$;99*$);=-'((*$),&)L$,+;*8)*+;8.$,.$'+9;)*9)H+$;$'==*$
);=<*==*+D$YC+$:*)$.>*=:*+$:*8$EI-,)*);(9*$),&)*8$;$M,='$9,&&H8*L$(C$/;=$:*)$(;&H=*+*($
&*:$('&&*$,+;*8)*+;8.$(,&$;$M?+H&$9,&&H8*D$
7*)$*+$.>,+)$*)$H)/'=.$'/$);=)'9$(,&$-C/;+9*+$*8*+.;I)*=(*8$;$@I.8;8.*+L$&*8$:*)$*+$='8.)$
<=*+*$&H=;.E*)*+$*88$:*$(,&$*+$@*=I()$;$:*88*$,--.'/*8D$!)/'=.*)$*+$@'(*+)$-C$9H88(9'-$
,--'+@*;:*)$.>*88,&$*8$<*&C+;.$E?I*+*$H):'88*=(*$;88*8$@I..<'.L$'8)'.*=(*+$@'(*+)$-C$
*.8*)E*)$);=$:*)$'9)H*==*$('9()H:;*)$('&)$+C:<?+;8.$&*:$)*98;(9$(>*<$;$#=,J9$K')8*L$
M/*++*$P;+9*/,=:D$7*$/*..)I-*8*$(,&$*+$:*<;8*+)$(,&$'=)*+8');/*$=?(8;8.*+$*+$;99*$
*/'=H*+)$;$<,+E,=:$);=$<H9)*.*8(9'-*+L$&*8$:*)$*+$H8:*+(?9)$
/'+&*.>*88,&.'8.(*.*8(9'-*+D$PH=:*@+,/*+:;@*+*.8;8.*8*$*+$.>,+)$*))*+$<,+*89=*:*$
-+;8(;--*+L$:'$:*))*$*+$*)$(),+)$*&8*$;$(*.$(*=/D$7*)$*+$;99*$.>,+)$);=)'9$98I))*)$);=$
@+H9*+()I+;8.$'/$9,&-,8*8)*+$;$@,=;.*8L$(*=/$,&$(=;9*$);=)'9$(,&$.>?+*($'/$:*8$*89*=)*$
@*@,*+$9'8$E'$(),+$-C/;+98;8.$-C$:*)$),)'=*$*8*+.;<,+@+H9*)D$7*))*$*+$&H=;.$C$-C/;+9*$$;$
(;&H=*+;8.(-+,.+'&&*)$(,&$*+$@+H9)$;$,--.'/*8L$&*8$(9'=$&'8$9'+'9)*+;(*+*$*)$EH($
(,&$-'((;/EH($&C$:*)$@+H9*($:*$('&&*$<,+H)(*)8;8.*+$(,&$.;))$;$<,+(9+;<)*8*D$
M*=/$,&$:*)$*+$:*)$*8*+.;&*((;.*$(,&$*+$/;*)$()?+()$<,9H(L$*+$,.(C$?9,8,&;$*8$/;9);.$:*=$
'/$:*88*$,--.'/*8D$#=,J9$K')8*$*+$H)@I..*+$'/$@,=;.*+L$,.$('&);:;.$(,&$:*$/;=$@I..*$
&*:$.,:$9/'=;)*)$<,+$C$;/'+*)'$(;))$.,:*$+I9)*L$?8(9*+$:*$,.(C$C$/;)*$&*+9,()8':*8$/*:$C$
@I..*$&*:$*8$E?I*+*$()'8:'+:D$"*+9,()8':$-*+$&0$*+$'=)(C$,--.'/*8($?9,8,&;(9*$
+*(H=)')D$7*))*$*+$*/'=H*+)$<,+$&*+9,()8':$<,+$H)@I..*+$;$@I..*<'(*8L$&*8$;$);==*..$
+*;8/*()*+;8.*+$-C$);=)'9*8*$(,&$@*@,*+$&C$.>?+*$98I))*)$);=$/*:=;9*E,=:$,.$H).C))$
=*/*);:D$"'8$9'8$;99*$(;$')$,--.'/*8$,&<'))*+$@*.+*-*)$=?88(,&E*)L$(;:*8$:*)$*+$
&*+9,()8':$-*+$&0$(,&$*+$+*(H=)')*)D$Y,*8$'/$);=)'9*8*$9+*/*+$&*+$:+;<)(&;:=*+$*88$
'8:+*$;$<,+&$'/$*=*9)+;(;)*)$*==*+$'8:+*$:+;<)(H).;<)*+L$(C$:*))*$&C))*$/W+)$&*:$;$
@*)+'9);8.*8*$E/;($('&&*8=;.8;8.$'/$=?88(,&E*)$/'+$,--.'/*8($&C=D$O)$'88*)$&,&*8)$
98I))*)$);=$=?88(,&E*)$*+$H)@I..*+($)'-)*$*==*+$/H88*:*$'+*'=$(,&$<?=.*$'/$8,*8$'/$
);=)'9*8*D$7*+(,&$),&)*H)8I))*=(*8$*+$E?IL$/;=$)I99*+*$/*..*+$<?+*$);=$)'-)$('=.@'+)$'+*'=L$
&*8($'8:+*$/*..)I-*+$<?+*+$);=$:*)$&,)('))*D$7*))*$*+$;99*$)'))$E*8(I8$);=$;$-+;(*8*$(,&$
@*(9+;/*+$&*+9,()8':$-*+$&0D$
!"#$$%$&'()*+,--.'/*$0120$$ $ 0$R88=*:8;8.$
$ 2Z$
0D3 5
[[SQNOYM$5[[#eSYRYS$
7*88*$&'()*+,--.'/*8$*+$:*=)$;88$;$<*&$E,/*::*=*+$,.$@*()C+$'/$;88=*:8;8.L$)*,+;:*=L$
&*),:*L$+*(H=)'):*=$,.$*/'=H*+;8.$'/$+*(H=)')*+$A:;(9H(>,8BD$R$;88=*:8;8.*8$,&E'8:=*($
,--.'/*8($)*&');99L$,&<'8.$,.$-+,@=*&();==;8.$(=;9$')$=*(*+$/*:$C$=*(*$:*))*$<,+()C+$
,--.'/*8($<,+&C=D$G*,+;:*=*8$*+$:*=)$;88$;$H=;9*$9'-;)=*+$,&$:'.*8($9+'/$);=$*8*+.;$;$
@I.8;8.*+L$-'+'&*)*+*$(,&$-C/;+9*+$*8*+.;I)*=(*8$,.$?9,8,&;D$R$9'-;)=*8*$,&$&*),:*$
,&E'8:=*($/*+9)?I*8*$(,&$*+$@+H9)$;$,--.'/*8$,.$('9()H:;*)L$G+*()'99/*;*8L$(,&$
:'88*+$.+H88='.*)$<,+$,--.'/*8D$7*+*))*+$9,&&*+$:*)$+*(H=)')*+$:*+$H=;9*$);=)'9$*+$
);=-'((*)$G+*()'99/*;*8$,.$/;:*+*$(;&H=*+;8.(+*(H=')*+$'/$E/*+)$*89*=)$);=)'9D$
G;=)'9(-'99*8*$(,&$(9'=$/W+*$<,+(='.$);=$C$,--8C$&C=(*)8;8.*8$9,&&*+$;$9'-;))*=*)$
*))*+L$,.$:*))*$@=;+$*))*+<H=.)$'/$*/'H=*+;8.$'/$+*(H=)')*8*D$X*+$@=;+$*&8*$<,+$*&8*$
:;(9H)*+)$<?+$,--.'/*8($9,89=H(>,8$@=;+$-+*(*8)*+)D$$
4;.H+*+$,.$)'@*==*+$*+$&*+9*)$&*:$8H&&*+L$,.$*8$('&&*8();==;8.$'/$:;((*$<;88*($*))*+$
;88E,=:(<,+)*.8*=(*8D$6*<*+'8(*=;()*$,.$/*:=*..$<;88*($;$:*$(;()*$),$9'-;)=*8*D$6*<*+'8(*+$
*+$&*+9*)$&*:$9='&&*+$moL$:*+$8H&&*+*)$;88*$;$9='&&*8$+*-+*(*8)*+$);=/'+*8:*$
8H&&*+$;$+*<*+'8(*=;()*8L$:*+$9;=:*8$*+$H)<I==*8:*$@*(9+*/*)D$
!"#$$%$&'()*+,--.'/*$0120$$ $ 3$G*,+;$k$P+'/$);=$*8*+.;%$,.$&;=>?I)*=(*+$;$@I..$
$ 2]$
3 G O56R$ % $ P 6QN$GRV$OYO6SR % $5S$"RVgheGOVMO6$R$#eSS $
3D2 #
eSSO6OSVO6$R$Y
56SO$
R$Y,+.*$.>*=:*+$[='8$,.$#I.8;8.(=,/*8$A[#VBL$(,&$(*))*+$9+'/$);=$@I..*-+,(*((*8$,.$:*8$
<*+:;.*$@I.8;8.*8D$V,/*8$(9'=$+*.H=*+*$<,+E,=:*)$&*==,&$9,&&H8*8$,.$:*8$(,&$(?9*+$
,&$@I..*);==')*=(*$,.$'8.;+$9+'/$);=$'8(/'+(+*))D$$#I..*)*98;(9$<,+(9+;<)$A9'=)$GOPB$*+$.;))$
(,&$*8$H)<I==;8.$,.$9,89+*);(*+;8.$'/$[#V$,.$(9'=$F(!"#$%&'%'!('&"%)(&*($++$,-%)#.,/$"'$#$,%
.+%0'12#$,%0'%1#&%3$*,4*%'!(%+.5%6!,0$((%"6&(!'$'-%0*!6$#,$((%0'1.#7!*+%.+%,(!"%&'%'!('&"$'%
.))14(($#%'$"*!,"$%"#&6%'!(%,!""$#3$'-%7!(/2-%3$(,$%.+%$*$#+!F$mToD$S>*=:*8:*$GOP$)+C:)*$;$
9+'<)$2D>H=;$0121D$7*8$<,++;.*$/*+(>,8*8$<+'$011Z$9H88*$@*8I))*($<,+$-C@*.I8)*$
-+,(>*9)*+$;$*8$,/*+.'8.(<'(*$<+*&$);=$2D>H=;$0122D$R$);==*..$);=$GOP$<;88*($*8$,--:')*+)$
/*;=*:8;8.$(,&$;==H()+*+*+$E/,+:'8$9+'/*8*$.;))$'/$GOP$9'8$,--8C(D$$$
M;:*8$GOP$*+$<H89(>,8(@'(*+)$&C$&'8$:,9H&*8)*+*$')$8I*$@I..$,.$9,8()+H9(>,8*+$@=;+$
@I..*)$;$('&(/'+$&*:$:*))*D$F8))14(($(,$%&6%4'$(,$#%"&*%6$#!1!,$#$,%6$5%9#0"%&6%7$'.5$#%!%
,&7,6&#%7$5%:.#,"%;'&*5%$(($#%(!"$6$#5!+%,'&*5F$mUoD$#I..$9,8()+H*+)$*))*+$
.>*=:*8:*$Y,+(9*$()'8:'+:L$*==*+$OH+,J,:*$&*:$8,+(9$'88*9(L$$/;=$:*+<,+$/W+*$;88*8<,+$
GOP$(;8*$9+'/D$[+*'9(*-)*+)*$=?(8;8.*+$.;))$;$#I..<,+(9(*+;*8$<+'$MRYGO4$);=<+*:(();==*+$
:*))*D$
3D0 O
YO6SRP6QN$R$GOPYRMP$456MP6R4G$
GOP$();==*+$9+'/$);=$@C:*$*8*+.;*<<*9);/;)*)$,.$*8*+.;<,+(I8;8.D$GOP21$@+H9*+$
-+;8(;--*8*$<+'$GOP1ZL$&*8$E'+$8,*8$(9>*+-*:*$9+'/D$7*)$*+$),$E,/*:-+;8(;--*+$C$
:,9H&*8)*+*$')$@I..*)$);=<+*:(();==*+$9+'/*8*$);=$*8*+.;*<<*9);/;)*)$-Cu$);=)'9(%$,.$
*8*+.;+'&&*&*),:*8D$7*)$@=;+$(9;=)$&*==,&$@I..$);=$@,=;.<,+&C=$,.$'8:+*$@I..D$7*+$
9+'/*8*$*+$.;))$*))*+$@I.8;8.()I-*$@=;+$*8*@,=;.*+L$),%$);=$<;+*&'88(@,=;.L$+*99*EH($,.$
9>*:*EH($,&)'=)$(,&$(&CEH(D$$
3D0D2 OYO6SRGRVGQP$
4,+$C$);=<+*:(();==*$9+'/*8*$);=$*8*+.;);=)'9$&C$@I..*)$,--<I==*$<=*+*$*89*=));=)'9D$G;=)'9*8*$
*+$:*=)$;88$;$9='((*8*$)+'8(&;(>,8(/'+&*)'-L$;8<;=)+'(>,8(%$,.$/*8);='(>,8(/'+&*)'-L$,.$
?/+;.*$);=)'9$A(*$)'@*==$2BD$7*)$*+$&H=;.$C$,&.C$8,*8$'/$);=)'9*8*L$&*8$&'8$&C$:'$?9*$
'8:+*$);=)'9L$(=;9$')$:*)$('&=*:*$/'+&*)'-*)$;99*$?9*(D$7*))*$(-*(;<;99*$/'+&*)'-*)$<,+$
@I..*)$9'==*($/'+&*)'-()'==$m^oD$N'+&*)'-()'==*)$*+$/'+&*)+'8(-,+)9,*<<;(;*8)*8$<,+$
)+'8(&;(>,8L$;8<;=)+'(>,8$,.$/*8);='(>,8$:;/;:*+)$-C$,--/'+&*)$:*=$'/$#6QL$,.$*+$.;))$/*:$
!"#$$%$&'()*+,--.'/*$0120$$ $ 3$G*,+;$k$P+'/$);=$*8*+.;%$,.$&;=>?I)*=(*+$;$@I..$
$ 2_$
Kl&0$-+DP$mZoD$#,=;.@I..$9'8$,&<,+:*=*$/'+&*)'-*)$.>*88,&$/;8:H('+*'=L$
)'9l/*..*+l.H=/L$;8<;=)+'(>,8$,.$/'+&*.>*8/;88*+*8$(;8$C+(/;+98;8.(.+':D$Q8:+*$@I..$
9'8$9H8$,&<,+:*=*$);=)'9$98I))*)$);=$/'+&*)'-*)D$
+4&(''!"G!7,*($!1(!6',5(!5'4**(-(!47!+,'+45!%.!@7,'5(!5$47!1(+!($!*4++!+,'!1(3!+4&(''(-!($!.<(-.,++!
?$4!+(5"CE!I"/;83!
$ 3D0D0 OYO6SR6Q""O$
7*8$'8:+*$&C)*8$C$);=<+*:(();==*$9+'/*8*$);=$*8*+.;*<<*9);/;)*)$-C$*+$
*8*+.;+'&&*&*),:*8D$"'8$&C$:'$.>?+*$*8$<H==()*8:;.$*8*+.;(;&H=*+;8.$*))*+$
YM3132f011Z$F<$#$+*!*+%&6%94+*!*+$#,%$*$#+!4'$(,$%=%>$'.5$%.+%?&'&@%<,+$C$<'()=*..*$
*8*+.;I)*=(*+$*))*+$*8*+.;+'&&*-+;8(;--*)D$O8*+.;+'&&*9+'/*)$'/E*8.*+$'/$
I!"/;83!(JKLMNONPOQR!
'B G+'8(&;(>,8(/'+&*)'-f$
Q8:*=$/;8:H(%$,.$:?+'+*'=$v$01$t$'/$,--/'+&*)$#6Q$
!%/*+:;$I))*+/*..$v$1L2]$KlA&0$PB$
!%/*+:;$)'9$v$1L23$KlA&0$PB$
!%/*+:;$.H=/$v$1L2U$KlA&0$PB$
!%/*+:;$.='((l/;8:Hl:?+$;89=H:*+)$9'+&l+'&&*$v$2L0$KlA&0$PB$
Y,+&'=;(*+)$9H=:*@+,/*+:;L$:*+$&0$'8.;($;$,--/'+&*)$#6Qf$
$ $ (&CEH($v$1L13$KlA&$0$PB$$
$ $ ?/+;.*$@I.8;8.*+$v$1L1^$KlA&$0$PBD$$
@B R8<;=)+'(>,8(%$,.$/*8);='(>,8(/'+&*)'-f$
V*99'(>*)'==$/*:$U1$['$)+I99<,+(9>*==f$
$ $ (&CEH($v$0LU$=H<)/*9(=;8.*+$-+D$);&*$
$ $ ?/+;.*$@I.8;8.*+$v$2LU$=H<)/*9(=;8.*+$-+D$);&*D$
\+(.>*88,&(8;))=;.$)*&-*+')H+/;+98;8.(.+':$<,+$/'+&*.>*8/;88*+$;$$$$$$$$$$$$$$
/*8);='(>,8('8=*..f$
$ $ @,=;.@I.8;8.L$ ('&)$ '+*'=*+$ :*+$ /'+&*.>*8/;88;8.$ &*:<?+*+$
+;(;9,$<,+$(-+*:8;8.$'/$<,+H+*8(8;8.l(&;))*$w$Z1$t$
$ $ ?/+;.*$@I.8;8.*+$,.$'+*'=*+$w$]1$tD$
JB h/+;.*$);=)'9f$
M-*(;<;99$/;<)**<<*9)$;$/*8);='(>,8('8=*..$AM4[Bf$
$ $ @,=;.@I.8;8.$v$0LU$9KlA&$3$l(B$$
$ $ ?/+;.*$@I.8;8.*+$v$0L1$9KlA&$3$l(B$$
"H=;.E*)$<,+$8'))%$,.$E*=.*(*89;8.$'/$;88*)*&-*+')H+$
G;=)'9$(,&$*=;&;8*+*+$@I.8;8.*8($@*E,/$<,+$=,9'=$9>?=;8.D$
$
!"#$$%$&'()*+,--.'/*$0120$$ $ 3$G*,+;$k$P+'/$);=$*8*+.;%$,.$&;=>?I)*=(*+$;$@I..$
$ 01$
@I.8;8.()I-*L$,.$,--.;+$*8$&'9(;&'=/*+:;$<,+$,&7($'%*$''.%$*$#+!9$3.6L$,--.;))$;$
9KEl&0$,--/'+&*)$#6Q$-*+$C+L$(*$)'@*==$0D$GOP21$n2TDT$,.$E'+$,.(C$&*:$/*+:;*8*$<+'$
GOP1Z$(,&$('&&*8=;.8;8.(.+H88='.D$G'==*8*$;$-'+'8)*($*+$'=)*+8');/*$9+'/$(,&$.>*=:*+$
<,+$@I..$:*+$9+'/$,&$@*.+*8(*)$<,+H+*8(;8.l@'9)*+;*==$(&;))*$,/*+()I+*+$*8*+.;&*((;.*$
9+'/$);=$/'+&*.>*8/;88*+*8D$7*)$('&=*:*$8*)),$*8*+.;@*E,/*)$)'+$&*:$'==*$
*8*+.;-,()*8*$(,&$,+:;8W+$@+H9$'/$@I..*)$/;=$.;$m^oD$M)'8:'+:/*+:;*+$<,+$
+*<*+'8(*9=;&'L$*8*+.;);=(9H::$<+'$(,=*8L$*8*+.;$);=$/*8);='(>,8('8=*..L$,--/'+&;8.$,.$
@+H9*+()I+)*$-,()*+$&C$@*8I))*($,.$*+$.;))$;$$/*:=*..$Q2$);=$YM3132D$N*+:;*8*$@=*$
+*/;:*+)$;$0122$,.$<=*+*$'/$/*+:;*8*L$(W+=;.$);=$@*=I(8;8.L$@=*$(*89*)$<,+:;$@+H9*8$'/$&*+$
*8*+.;.>*++;.$@*=I(8;8.$E'+$?9)D$
+4&(''!0G!(-($.,$4))($!?%$!6',5(!&9.-,-.*+9#($!&4*($+!#D!&($(.-(+!*4)'(+!-(++%!(-($.,&(@%73!!
&SMJNJMTRQOKMULN!
!
!!
+UOQPO!JKOOU!KJKLMNVKWUX!
+(5"C!!!!!!!!!!!!!!!!!!!!!!!!!!!+(5C:!
m9KEl&$0$,--/'+&*)$#6Q$-+D$C+o!
*YZW[TE!TQYO!\LNON]TVUPNM!UXKL!"2C!Y0!U^^XQLYKO!
&$4!!
201$x$2^11l&0$ ,--/'+&*)$
#6Q$
20Ux2^11l&0$
,--/'+&*)$
#6Q$
&UPNMVPURR!! 22U$ 201$
&QLJKWQMK!! 2T1$ 2U1$
5UJOULVSMJNJM! 2U1$ 2^U$
*RUPKVSMJNJM! 201$ 23U$
6JNXKLTNOKO_W`STRUPK! 2^1$ 2]1$
*SRKW[T! 311$A33UB$ 30U$
*SRKWaKY! 02U$A0U1B$ 03U$
@UOKPP! 001$ 0T1$
,]LKOOTVSMJNJM! 2Z1$ 2]U$
?ULLKOJNJMTVSMJNJM! 021$ 03U$
5[PO[LVSMJNJM! 2^U$ 2]1$
'KOO!NJ][TOLN_XKLRTOK]KL! 2ZU$A2_1B$ 2]U$
$
N*:$@*+*.8;8.$'/$*)$@I..($('&=*:*$8*)),$*8*+.;@*E,/$/;=$.*,&*)+;L$,+;*8)*+;8.$,.$
/;8:H(-='((*+;8.$(-;==*$;88D$O8$,-);&'=;(*+)$@I.8;8.(9+,--$&*:$&I*$/;8:H('+*'=$&,)$
(?+L$:*+$/'+&*);=(9H::*)$<+'$(,=*8$*+$()?+()L$/;=$:*+<,+$/;+9*$-,(;);/)$-C$('&=*)$8*)),$
*8*+.;@*E,/D$
!"#$$%$&'()*+,--.'/*$0120$$ $ 3$G*,+;$k$P+'/$);=$*8*+.;%$,.$&;=>?I)*=(*+$;$@I..$
$ 02$
3D0D3 "RYMGOP6QN$
!'8(*))$E/;=9*8$&,:*==$&'8$/*=.*+$&C$&'8$<?=.*$.;))*$&;8()*9+'/L$(=;9$')$&'8$E;8:+*+$
H>*/8$9/'=;)*)$;$@I..*8*D$7*)$*+$9+'/$);=$)*))E*)$,.$/'+&*.>*88,&.'8.L$.;))$;$)'@*==$3D$R$
);==*..$();==*($:*)$9+'/$);=$')$+?+$,.$9,&-,8*8)*+$(,&$@+H9*($);=$/'+&*:;()+;@H(>,8(8*))*)$
;(,=*+*(D$
+4&(''!8G!),-*+(5$47!?%$!74$)(.<(--%).4-.!%.!+(++@(+!?%$!&D1(!+,'+45*;!%.!$4))()%1(''(-!
b+(5"C!I"/;2c!
5UJTOL[RTaUJT]KP! ! 5LQX! +S^K! (JWKO!
9OOKLXKMM! !$1L00$ !%/*+:;$ mKlA&0$PBo$
+QR! !$1L2]$ !%/*+:;$ mKlA&0$PBo$
.[PX!^Z!ML[JJ!UM!YUO!]KO!\LN! !$1L2]$ !%/*+:;$ mKlA&0$PBo$
7NJ][!UM!]`L!dNJRP[]KLO!RQLY_LQYYKe! !$2L^$ !%/*+:;$ mKlA&0$PBo$
'KRRQTaKOQPP!XK]!2C!#Q!OLSRR\ULTRaKPP! !$3L1$ VH<)/*9(=;8.$-+D$
);&*$
m()9o$
$
#I..$(,&$;99*$*+$(&CEH($E'+$,.(C$<=*+*$9+'/$98I))*)$);=$/;8:H*8*D$7*+(,&$:*)$;99*$*+$
:,9H&*8)*+)$')$@I..*)$;99*$E'+$@*E,/$<,+$9>?=;8.L$();==*($:*)$9+'/$);=$(,=<'9),+*8$A.)B$-C$
/;8:H*+L$(,&$:'$&C$/W+*$&;8:+*$*88$1L2U$-C$:*$(,=@*='()*:*$<'(':*8*D$O8$(,=@*='()*)$
<'(':*$=;..*+$;$<?=.*$/*;=*:8;8.*8$);=$GOP21$&*==,&$8,+:l?()$ATU°B,.$8,+:l/*()$A32U°BD$
M,='/(9>*+&;8.*8$9'8$,--8C($/*:$C$&,8)*+*$-*+(;*88*+$*==*+$&*:$@*=*..$-C$/;8:H*8*D$
7*)$();==*($,.(C$9+'/$);=$('&&*8E*8.*8$&*==,&$/;8:H*8*($*8*+.;*.*8(9'-*+$,.$);=='))$
/;8:H('+*'=L$.;))$;$-+,(*8)$'/$,--/'+&*)$#6QD$7*))*$$<,+&H=*+*($/*:$C$:;/;:*+*$1L0T$-C$
/;8:H*8*($!%/*+:;L$;89=H:*+)$9'+&l+'&&*D$7*))*$/;=$.;$01$-+,(*8)$/;8:H('+*'=$'/$
,--/'+&*)$#6Q$<,+$/'8=;.*$/;8:H*+$&*:$*8$!%/*+:;$-C$2L0$Kl&0$-+DPD$N;+98;8.*8*$'/$
9+'/*)$*+$;==H()+*+)$;$)'@*==$TD$
$ $
!"#$$%$&'()*+,--.'/*$0120$$ $ 3$G*,+;$k$P+'/$);=$*8*+.;%$,.$&;=>?I)*=(*+$;$@I..$
$ 00$
+4&(''!/G!?%$@%'1(+!)(''%)!1(!74-',.*+(!6;7($1,(-(!#D!7,-16($!%.!@74!1(++(!6+.<=$!?%$!@7%$!
)9(!.'4**!)4-!54-!@4!(++($!+(5"C!*,++!),-*+(5$47!,!I"/32!
6;XKL]N! ?ULWUP]TOQPP!\LQ!+(5"C! .PQTTQJ]KP!!N!f!QX!U^^XQLYKO!&$4!
"EA! 1L0T$ 1L2U$
"E/! 1L0T$ 1L2Z$
"E0! 1L0T$ 1L01$
"! 1L0T$ 1L0T$
CE>! 1L0T$ 1L31$
$
3D0DT !YYGQP$46Q$6OSVOYO$
P+'/*8*$);=$*8*+.;$9'8$<+'/;9*($;$8,*8$);=<*==*+D$7*))*$.>*=:*+$;$$E,/*:('9$@I..$&*:$
(-*(;*==$@+H9L$$HE*=:;.$.*,&*)+;$*==*+$:*+(,&$:*$.C+$H)$,/*+$@*/'+;8.$'/$9H=)H+&;88*+D$
7*)$*+$+*:H(*+)*$9+'/$<,+$@I..$H8:*+$31&0L$<+;);:(@,=;.*+$&*:$U1&0$);=$2U1&0$
,--/'+&*)$#6QL$('&)$()?++*$<+;);:(@,=;.*+$&*:$9H8$q8$@,*8E*)D$7*$)+*8.*+$@'+*$C$E,=:*$
(*.$;88*8<,+$&;8()*9+'/*8*$.;))$;$)'@*==$3D$V'<)*:*$@I..$E'+$,.(C$*.8*$*8*+.;9+'/L$.;))$;$
GOP21$n2TD^D$
$
3D0DU OYO6SR456MeYRYS$
N'+&*@*E,/*)$;$*)$@I..$A;==H()+*+)$;$<;.H+$2B$9'8$:*=*($,--$;$.+H88='()$,.$(-;((='()*+D$
S+H88='()*8$*+$:*8$*<<*9)*8$(,&$&C$);=$<,+$C$:*99*$()?+()*-'+)*8$'/$/'+&*@*E,/*)D$7*)$
*+$,<)*$H?9,8,&;(9$C$E'$*8$*8*+.;<,+(I8;8.$(,&$*+$:;&*8(>,8*+)$<,+$E*=*$/'+&*@*E,/*)D$
7*)$9'8$;()*:*8<,+$/W+*$@;==;.*+*$C$E'$q8$*8*+.;<,+(I8;8.$(,&$9='+*+$:*88*$.+H88='()*8L$
,.$*8$'88*8$);=$C$)'$:*8$?/+;.*$*<<*9)*8$(,&$)+*8.($-C$:*$9'=:*()*$:'.*8*D$Q/E*8.;.$'/$
9=;&'*)$,.$/'+&*(I()*&*)$/;=$.+H88='()*8$=;..*$&*==,&$Z1%_1t$'/$@I.8;8.*8($
/'+&*@*E,/$m^oD$
$
?,.6$!"G!,''6*+$4*<%-!47!(+!&9..*!74$)(&(@%7(+!b7(,'(1-,-.(-!+,'!+(5"C!I"/E:c!
!"#$$%$&'()*+,--.'/*$0120$$ $ 3$G*,+;$k$P+'/$);=$*8*+.;%$,.$&;=>?I)*=(*+$;$@I..$
$ 03$
7*)$*+$;99*$);=='))$C$;8()'==*+*$,=>*9>*=$;$8I*$@I..$*==*+$/*:$E,/*:,&@I..;8.$'/$*)$@I..D$
7*+$9,&&H8*8$E'+$);=98I)8;8.(-=;9)$);=$<>*+8/'+&*'8=*..$&C$@,=;.*8($/'+&*(I()*&$
@I..*($(=;9$')$<>*+8/'+&*8$9'8$@+H9*($);=$C$:*99*$/'+&*@*E,/*)D$GOP21$();==*+$,.(C$9+'/$
);=$')$,/*+$T1$-+,(*8)$A^1$-+,(*8)$<,+$@I..$()?++*$*88$U11&0$,--/'+&*)$#6QB$'/$
@I.8;8.*8($8*)),$/'+&*@*E,/$(9'=$:*99*($&*:$*8$'88*8$<,+(I8;8.$*88$<,((;=*$@+*8(=*+$
*==*+$:;+*9)*$*=*9)+;(;)*)$E,($(=H))@+H9*+$m]oD$$Y*)),$/'+&*@*E,/$@*+*.8*($*))*+$
YM3132f011Z$F<$#$+*!*+%&6%94+*!*+$#,%$*$#+!4'$(,$%=%>$'.5$%.+%?&'&@%,.$E'+$<+')+*99$
<,+$:*8$/'+&*8$(,&$*=*9)+;(9$H)()I+$,.$(,=*8$);=<?+*+$@I.8;8.*8D$O=*9)+;(9$*8*+.;$);=$:+;<)$
'/$/'+&*-H&-*+$*+$;99*$:*<;8*+)$(,&$:;+*9)*$*=*9)+;(;)*)D$$
4,+$C$9='+*$9+'/*)$,&$T1%$*==*+$^1$-+,(*8)$@+H9*($,<)*$/'+&*-H&-*+L$(,=<'8.*+*L$
<>*+8/'+&*L$/*:,/8L$-*==*)(,/8L$@;,9>*=$*==*+$@;,.'(($m^oD$7*+(,&$&'8$9'8$:,9H&*8)*+*$
')$8')H+<,+E,=:$.>?+$:*)$-+'9);(9$H&H=;.$C$<?=.*$9+'/*)L$9'8$:*)$<+'/;9*(D$7*))*$.>*=:*+$
,.(C$@,=;.@I..$(,&$E'+$*)$8*)),$/'+&*@*E,/$H8:*+$2U$111$9KElC+$*==*+$9+'/*)$<?+*+$);=$
&*+9,()8':*+$,/*+$@I.8;8.*8($=;/(=?-D$M*$9'-;))*=$21D_$<,+$@*+*.8;8.*+$'/$
;8/*()*+;8.(9,()8':*+D$7*+(,&$&'8$H88/;9*+$9+'/*)L$&C$@,*8E*)*+$,/*+$U1&0$ ,--/'+&*)$#6Q$(,&$;99*$*+$@I..*)$*))*+$-'((;/EH(()'8:'+:*8$E'$(9,+()*;8$,.$=H99*)$
;=:()*:$<,+$@+H9$'/$@;,@+*8(*=D$$$
3D3 [
QMMRNX!M$$
3D3D2 P5YMO[G$M,&$@*.+*-*)$'8)I:*+$(C$/;=$:*)$;$-'((;/EH($)'($;$@+H9$-'((;/*$);=)'9$<,+$C$(9'-*$*)$
*8*+.;*<<*9);/)$@I..D$7*$-'((;/*$);=)'9*8*$(9'=$E'$='8.$=*/*);:L$,.$*)$-'((;/EH($&C$(*($-C$
(,&$*8$='8.(;9);.$;8/*()*+;8.D$Y*)),$,--/'+&;8.(@*E,/$(9'=$+*:H(*+*($/*:$C$();==*$
()+*8.*+*$9+'/$);=$!%/*+:;$;$/*..*+L$)'9$,.$.H=/D$R$);==*..$(9'=$:*)$/W+*$&;8:+*$9H=:*@+,*+$
,.$=H<)=*99'(>*$*88$;$*)$@I..$*))*+$:'.*8($<,+(9+;<)L$GOP21D$Q8:+*$-'((;/*$);=)'9$(,&$
@+H9*($*+$C$H)8I))*$(,=*8*+.;*8$,.$.>*8/;88*$/'+&*8$<+'$@+H9)$=H<)$m_oD$$
3D3D0 YM$3Z11f0121$P6RGO6RO6$456$[QMMRNX!M$5S$VQNOYO6SRX!ML$#5VRS#eSYRYSO6$
#*.+*-*)$-'((;/EH($E'+$@=;))$@+H9)$;$<=*+*$C+$,.$@=*$,--+;88*=;.$='8(*+)$'/$
['((;/EH(;8();)H))*)$;$GI(9='8:$m21oD$R$Y,+.*$/'+$:*)$=*8.*$<,+/;++;8.$+H8:)$@*.+*-*)$,.$
:*)$/'+$;99*$*8)I:;.$:*<;8*+)D$4,+(9>*==*+$98I))*)$);=$9=;&'$,.$@I..*(9;99$.>?+$')$
-'((;/EH($8?:/*8:;./;($;99*$9'8$:*<;8*+*($;8)*+8'(>,8'=)D$"I8:;.E*)*8*$?8(9*+$C$
);=(9I8:*$*8*+.;*<<*9);/*$=?(8;8.*+L$,.$,<<*8)=;.$);=(9H::$@=;+$.;))$);=$-+,(>*9)*+$&*:$
<,9H($-C$='/)$*8*+.;<,+@+H9D$7*+<,+$H).'/$M)'8:'+:$Y,+.*$;$0121$YM3Z11$(,&$
;88*E,=:*+$9+;)*+;*+$<,+$-'((;/EH($,.$='/*8*+.;EH($<,+$@,=;.@I.8;8.*+D$7*$)+*$8;/C*8*$
='/*8*+.;9='((*$2$,.$0$,.$-'((;/EH($:*<;8*+*(L$,.$@*+*.8;8.(.+H88='.*)$*+$H)<?+)$'/$
!"#$$%$&'()*+,--.'/*$0120$$ $ 3$G*,+;$k$P+'/$);=$*8*+.;%$,.$&;=>?I)*=(*+$;$@I..$
$ 0T$
MRYGO4$#I..<,+(9$,.$#,=;.-+,:H(*8)*8*$m_oD$
7*)$(*))*($;$()'8:'+:*8($9'-;))*=$TD2$9+'/$,&$*)$&'9(;&'=)$/'+&*)'-()'==$AXyyBD$
N'+&*)'-()'==*)$+*.8*($H)$*))*+$YM$3132%=%<$#$+*!*+%&6%94+*!*+$#,%$*$#+!4'$(,$-%,.$*+$
/'+&*)+'8(-,+)9,*<<;(;*8)*8$<,+$)+'8(&;(>,8L$;8<;=)+'(>,8$,.$/*8);='(>,8$:;/;:*+)$-C$
),)'=)$,--/'+&*)$@+H9('+*'=$A#6QBD$G'@*==$U$/;(*+$9+'/*8*$);=$/'+&*)'-()'==$;$@,=;.*+$
@I..*)$(,&$-'((;/EH(D$
g'&<?+$9'-;))*=$TD0$;$()'8:'+:*8$(9'=$-'((;/EH($H)<,+&*($@,(!"%&'%'$#7!,"%".71.#'%.))*A,%
0'$*%7$"&*!,"%"/2(!*+%&6%#.7(01'%.+B$(($#%'!((01'%6$5%3/$()%&6%"/2($7&,"!*$#%6$5%(."&('%
"(!7&%.+%5$%,"/$#7!*+,1.#3.(5%,.7%$#%&"'0$(($%1.#%9.(!+$*,%)(&,,$#!*+@m21oC%7*))*$@*)I+$')$
:*)$;99*$9'8$@+H9*($9>?=*@'))*+;*+$*==*+$'8:+*$;8()'=='(>,8*+D$M,&$*8$&*+98':$);=$:*))*$
*+$$:*)$=,/$&*:$-'((;/$<+;9>?=;8.$<,+$C$@*E,=:*$)*+&;(9$9,&<,+)$*==*+$<,+$C$+*:H(*+*$
8*)),$9>?=*@*E,/D$
+4&(''!2G!5$47!+,'!74$)(+4#*+4''!,!#4**,7@6*!b+4&(''!0!,!!-*!8:CCc!
! ! 7QLYKOQ^TOQPP! !
*O`LLKPTK! Q<=$z$211$&0$ 211$&0$z$Q<=$z$0U1$&0$ Q<=${$0U1$&0$
#QTTNXW[T! 1L^1$ 1LUU$ 1LU1$
Q<=$|$,--/'+&*)$#6Q$ $ $ $
$
P'-;))*=$TD3$;$YM$3Z11$'8.;+$9+'/$);=$,--/'+&;8.(@*E,/L$(,&$,&<'))*+$@C:*$/'+&*$<+'$
/*8);='(>,8('8=*..*)$,.$:*8$)+':;(>,8*==*$+,&,--/'+&;8.*8D$G'@*==$^$/;(*+$9+'/*8*$);=$
E?I*()*$@*+*.8*:*$8*)),$*8*+.;@*E,/$);=$,--/'+&;8.D$
+4&(''!AG!5$47!+,'!@=9(*+(!&($(.-(1(!-(++%!(-($.,&(@%7!+,'!%##74$),-.!b+4&(''!8!-*!8:CCc!
Årsmiddeltemperatur
!ym
Høyeste beregnede netto energibehov til oppvarming kWh/(m2"år)
Q<=$z$0U1$&0 Q<=${$0U1$&0
> 6,3 °C 15 + 5,4 ! !!"#!!!"!
!"" 15
< 6,3 °C 15 + 5,4 ! !!"#!!!"!
!""
+ (2,1 + 0,59 ! !!"#!!!"!
!"" ) !(6,3- "ym)
15 + 2,1 ! (6,3- "ym)
Q<=$|$,--/'+&*)$#6Q
!"#$$%$&'()*+,--.'/*$0120$$ $ 3$G*,+;$k$P+'/$);=$*8*+.;%$,.$&;=>?I)*=(*+$;$@I..$
$ 0U$
R$9'-;))*=$TDT$;$()'8:'+:*8$(*))*($9+'/*8*$);=$*8*+.;<,+(I8;8.D$7*)$E*)*+$')$
F6$,4,'$7$'%!%6$,$*'(!+%+#&5%"&*%9$*4''$%&*5#$%$*$#+!6&#$#%$**%$($"'#!,"$%.+%1.,,!($%
9#$*,($#F$m21oD$7*))*$@*)I+$')$&'8$H)*8$H88)'9$&C$E'$'8:+*$*8*+.;9;=:*+$*88$
*=*9)+;(;)*)L$,=>*L$9H==$,.$.'((D$
N;:*+*$()C+$:*)$F<$#$+*$'%7$*+5$%($6$#'%$($"'#!,"%.+%1.,,!(%$*$#+!%,"&(%6D#$%7!*5#$%$**%
'.'&('%*$''.%$*$#+!9$3.6%1#&'#0""$'%EF%G%&6%*$''.%$*$#+!9$3.6%'!(%6'6&**-%,.7%6!,'%!%
(!+*!*+%HIJF$m21oD$
g'&<?+$9+'/*8*$;$GOP21$);=$&;8()*9+'/$);=$@I.8;8.(:*=*+L$9,&-,8*8)*+$,.$=*99'(>*)'==$
*+$:*)$;$-'((;/EH($();=)$);=(/'+*8:*$9+'/$(,&$(9'=$:,9H&*8)*+*($*))*+$+*.=*8*$.;))$;$YM$
3132D$G'@*==$Z$/;(*+$9+'/*8*$);=$-'((;/EH(D$
+4&(''!:G!),-*+(5$47!+,'!&9.-,-.*1('($E!5%)#%-(-+($!%.!'(554*<(+4''!,!#4**,7@6*!b+4&(''!2!,!-*!
8:CCc!
(MKJTRQ^! 5LQX!
6;XKL]N!SOOKLXKMM! z$1L2U$KlA&0}PB$
6;XKL]N!OQR! z$1L23$KlA&0}PB$
6;XKL]N!M[PX$ z$1L2U$KlA&0}PB$
6;XKL]N!XNJ][$ z$1L]1$KlA&0}PB$
6;XKL]N!]`L$ z$1L]1$KlA&0}PB$
-ULYQPNTKLO!R[P]KVLUXKL]NE!ghh$ z$1L13$KlA&0}PB$
DLTMa3T3!OKY^KLQO[LXNLRJNJMTMLQ]!\UL!XQLYKMaKJXNJJKL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!{$]1$t$ $
*?#;\QROUL!\UL!XKJONPQTaUJTQJPKMM$ z$2LU$9KlA&3l(B$
'KRRQTaKOQPP!XK]!2C!#QE!J2C$ z$1L^1$E%2$
$
3DT Y
!VVX!M$
3DTD2 P5YMO[G$Et nivå videre fra passivhusstandard er nullhusstandard. Det er ikke utgitt en gjeldende standard som definerer begrepet, og det er begrepsforvirring i bransjen når det gjelder dette.
Mange bruker begrepene nullhus og nullenergihus om hverandre, der i blant Teknisk Ukeblad, som i sin publikasjon den 28. mars 2012 skriver om ”Norges første nullenergihus.
Også kalt nullhus” [11]. Dette pålitelige tidsskriftet er ikke de første som bruker disse begrepene om hverandre.
!"#$$%$&'()*+,--.'/*$0120$$ $ 3$G*,+;$k$P+'/$);=$*8*+.;%$,.$&;=>?I)*=(*+$;$@I..$
$ 0^$
Enova har definert nullhus slik: ”Et nullhus kan ha solcellepanel, solfanger og/eller varmpeumpe, og produserer like mye energi som det totalt har behov for per år. Et nullhus skal også være karbonnøytralt når det gjelder utslipp fra materialer, riving og
byggeprosess” [12]. Det er altså to krav når det gjelder nullhus; både energiproduksjon og det å være karbonnøytralt. Etter definisjonen til Enova betyr dette at begrepet nullenergihus kun omfatter det første kravet; at bygget skal produsere like mye energi som det totalt har behov for per år.
I denne oppgaven vil begrepet nullhus brukes, og derfor skal begge kriteriene oppfylles. Et nullhus skal altså også være karbonnøytalt med tanke på utslipp fra byggeprosess, materialer og fra rivningsfase. Et annet begrep for karbonnøytralt er klimanøytralt. Cicero, senter for klimaforskning, forklarer begrepet med “at man først må beregne hvor store utslipp aktiviteten vil gi. Deretter må man undersøke mulighetene for å redusere utslippene, og til slutt kjøpe klimakvoter for å kompensere for de utslippene som fortsatt finner sted etter at man har gjennomført tiltak for å redusere utslippene” [13]. I nullhus vil eventuelt overskudd av produsert energi kunne veie opp for utslipp knyttet til oppføring, materialbruk og riving.
Denne oppgaven definerer derfor det andre kriteriet, karbonnøytralt, som klimanøytralt med tanke på utslipp fra byggeprosess, materialer, rivningsfase, og i tillegg stasjonær energi som kan gi positivt bidrag i løpet av driftstiden til bygningen.
EU har iverksatt et initiativ som i Norge har ført til Bygningsenergidirektivet. Dette direktivet, som er underlagt regjeringen, har som mål å redegjøre for og å øke
energieffektiviteten i norske bygg. I følge Bygningsenergidirektivet, som ble lagt frem i Norge i 2004, skal nybygg som skal brukes av det offentlige tilfredsstille nullenergistandard innen 2018 [14].
3DTD0 PVR"QPN5GO6$
O)$&;::*=$<,+$C$,--8C$9=;&'8?I)+'=;)*)$,.$/;:*+*$,--8C$8H==EH(()'8:'+:$*+$(,&$8*/8)$;$
<,++;.*$9'-;))*=$C$9>?-*$9=;&'9/,)*+$<,+$C$9,&-*8(*+*$<,+$:*$H)(=;--*8*$(,&$<+*&:*=*($
*+$);=()*:*$*))*+$@*(-'+*8:*$);=)'9$*+$.>*88,&<?+)D$$
P=;&'9/,)*(I()*&*)$*+$*)$+*(H=)')$'/$:*8$;8)*+8'(>,8'=*$9=;&''/)'=*8$(,&$@=*$
H8:*+)*.8*)$;$PI,),$;$2__ZD$7*88*$'/)'=*8$<,+-=;9)*+$;8:H()+;='8:*8*$);=$C$+*:H(*+*$
H)(=;--$'/$`50$,.$'8:+*$9=;&'.'((*+$&*:$&;8()$U$t$;$011]%0120$('&&*8=;.8*)$&*:$
8;/C*)$;$2__1D$X/*+)$='8:$<C+$H):*=)$*)$/;(()$'8)'==$9=;&'9/,)*+$(,&$8'(>,8*8$(*=/$*+$('))$
);=$<,+/'=)*D$"I8:;.E*)*+$H)()*:*+$<W++*$9=;&'9/,)*+$*88$:*)$<,+/*8)*:*$H)(=;--*)L$(C$
@*:+;<)*8*$&C$*8)*8$(=;--*$H)$&;8:+*$*==*+$9>?-*$9/,)*+$<+'$'8:+*$(,&$E'+$(=H--*)$H)$
&;8:+*D$
