Towards an Ontology for Conceptual Modeling

!"#$%&'($)(*)+","-.(/"%(0")123+4$,(5"&2,6)-( (

!"#$%&'(&)*+,%-$./&!0"11$&2,*3"10/&4$50."6&2(&)*7,311$%%& &

8$96$.:$%%&;0.:<&+01%9$::"9301/&4$=".9#$19&0>&+0#=,9$.&?*3$1*$/&@$1%%$:"$.&'0:A9$*613*&B1%939,9$/&8.0A/&CD/&E?F& &

F5%9."*9(&+01*$=9,":&#0<$:31G&*"1&5$&H3$I$<&"%&"&I"A&0>&$J=.$%%31G&6,#"1&,1<$.%9"1<31G&

0>&"&50<A&0>&-10I:$<G$(&863%&H3$I&*"1&5$&H3$I$<&"%&<3%931*9&>.0#&%9"1<".<&109301%&0>&<"9"&

#0<$:31G& "1<& 0190:0GA/& I63*6& %$$-& 90& <3.$*9:A& <$%*.35$& <"9"& "1<& .$":39A(& ;$& <$>31$& 0,.&

109301&0>&*01*$=9,":&319$.0=$."53:39A/&G3H$&,%$&*"%$%&"1<&.$K,3.$#$19%&>0.&39/&"1<&319.0<,*$&

96$& +01*$=9,":& )0<$:& L190:0GA& M+)LN/& I63*6& %"93%>3$%& 96$& <3%*,%%$<& ,%$& *"%$%& "1<&

.$K,3.$#$19%(&;$&%60I&60I/&,%31G&"&*0##01&H0*"5,:".A/&*01*$=9,":&#0<$:%&*"1&5$&,%$<&90&

93$& 90G$96$.& <"9"& "9& 96$& :$H$:& 0>& *01*$=9,":& 319$.0=$."53:39A(& O31"::A/& I$& 319.0<,*$& "1&

3#=:$#$19"9301&0>&+)L&31&96$&%$#"193*&I$5&P30#$<3*":&B1>0.#"93*%&7.3<&M%IPB7N/&"&:31-$<&

<"9"&=.0JA&>0.&*"1*$.&P30#$<3*":&B1>0.#"93*%&7.3<&M*"PB7N&#0<$:%/&%$#"193*&#$9"<"9"/&"1<&

<"9"(& &

7( (8)+%"&41+6")( (

86$&.$:"9301%63=&5$9I$$1&$19393$%/&96$&3<$"&0>&

96$& $19393$%/& "1<& 96$3.& 31>0.#"9301&

.$=.$%$19"9301& 6"%& *0#$& 90& 96$& >0.$>.019& 0>&

0190:0GA& "1<& 31>0.#"9301& #0<$:31G& 5$*",%$&

*01*$=9,":& #0<$:%& QRS& 6"H$& 5$*0#$& *.393*":& 31&

$1*0<31G&6,#"1&,1<$.%9"1<31G&0>&31>0.#"9301&

QTS(&80&%,==0.9&963%/&:"A$.$<&.$=.$%$19"9301%&0>&

31>0.#"9301& #0<$:%/& %,*6& "%& 96$& *01*$=9,":/&

:0G3*":/&"1<&=6A%3*":&#0<$:&:"A$.%/&QUS&QVS&6"H$&

5$*0#$& *0##01& =."*93*$& 31& #"1A& #0<$:31G&

<3%*3=:31$%(&;$&%$$-&"&#$9"W#0<$:31G&0190:0GA&

96"9&*"1&$"%3:A&$J=.$%%&6,#"1&,1<$.%9"1<31G&

0>& $19393$%& "1<& 96$3.& <"9"& 31& 9$.#%& 0>&

31<$=$1<$19/&.$,%"5:$&H0*"5,:".3$%&96"9&*"1&5$&

"1109"9$<& 0190& *01H$19301":& 0190:0G3$%& 31& "&

I"A&96"9&<0$%&109&*0#=,9"9301"::A&<3%9,.5&96$&

"1109"9$<& 0190:0GA& M<0$%& 109& =.0<,*$& "1A&

,1<$%3.$<& 31>$.$1*$%N& "1<& <0$%& 109& .$K,3.$&

#0<3>3*"9301& 0>& 96$& 0190:0GA& 0.& 96$& <"9"& 39&

.$=.$%$19%(&L,.&G0":&3%&90&=.0H3<$&"&I"A&90&,%$&

96$%$&%0.9%&0>&"1109"9301%&90&%"93%>A&*$.9"31&,%$&

*"%$%&>0.&*01*$=9,":&319$.0=$."53:39A&QXS(& &

9( (:$1;-%"4)&( (

P30#$<3*":&0190:0G3$%&6"H$/&>0.&#0.$&96"1&9$1&

A$".%/&I0.-$<&90I".<%&319$.0=$."53:39A&0>&<"9"&

96.0,G6&,%$&0>&H$.3>3$<&*"9$G0.3$%/&"%&6"%&5$$1&

96$& *"%$& 31& 96$& 7$1$& L190:0GA& QYS& "1<& 096$.&

LPL&O0,1<.A&0190:0G3$%&QZS/&.$>$.$1*$&#0<$:%/&

"%&6"%&5$$1&96$&*"%$&31&[$":96&2$H$:&Z&M[2ZN&

@$>$.$1*$&B1>0.#"9301&)0<$:&Q\S&"1<&0=$1][@&

Q^S/& "1<& *0##01& H0*"5,:".3$%/& %,*6& "%&

?CL)]4W+8/& 2LBC+/& "1<& C+B& 86$%",.,%(&

[0I$H$./& 319$G."9301& "*.0%%& 96$%$& 0190:0G3$%&

6"%& 3<$193>3$<& "& 1,#5$.& 0>& *6"::$1G$%&

%,..0,1<31G& 96$& %9."9$G3$%& 96"9& I$.$& ,%$<& 90&

=.0<,*$&96$&0190:0GA(& &

L190:0G3$%& ".$& 0>9$1& *.$"9$<& ,%31G& 01$& 0>&

9I0& =.3#".A& 31>:,$1*$%_& :31G,3%93*& 0.& .$":3%9(&

231G,3%93*& 31>:,$1*$%& 01& 0190:0G3$%& %9$#& >.0#&

60I&=$0=:$&9":-&"50,9&"1<&,1<$.%9"1<&$19393$%/&

I6$.$"%& .$":3%9& 31>:,$1*$%& 01& 0190:0G3$%& %9$#&

>.0#& "& >0*,%& 01& %*0=31G& 5A& 31*:,<31G& 01:A&

9631G%& 96"9& 6"H$& %*3$193>3*& $H3<$1*$& 0>&

$J3%9$1*$& 31& 96$& .$":& I0.:<& QR`S(& ;$& .$>$.& 90&

[2ZW@B)& "%& 5$31G& :31G,3%93*"::A& 31>:,$1*$<&

5$*",%$& 39& 3%& =.3#".3:A& *01*$.1$<& I396&

*0##,13*"9301& 0>& 6,#"1WG$1$."9$<& .$*0.<%&

5$9I$$1& $19393$%(& L190:0G3$%& I396& .$":3%9&

31>:,$1*$&"99$#=9&90&#0<$:&.$":39A&"%&39&3%/&"1<&

01:A&#0<$:&9631G%&>0.&I63*6&96$.$&3%&%*3$193>3*&

$H3<$1*$& QRRS(& 86$& P"%3*& O0.#":& L190:0GA&

MPOLN& QRTS& 3%& =0%%35:A& 96$& #0%9& .3G0.0,%&

$J"#=:$&0>&"1&0190:0GA&I396&.$":3%9&31>:,$1*$%(&

F&.$":3%9&%9."9$GA&*"1&=.0H3<$&"&>."#$I0.-&>0.&

.$:"931G&096$.&%9."9$G3$%/&31*:,<31G&*01*$=9,":&

#0<$:%(& ?#396&

!"# $%(& QTS& 6"H$& <$H$:0=$<& "&

96.$$W:"A$.&%A%9$#&>0.&9631G%&31&96$&I0.:</&0,.&

3<$"%& 0>& 96$#/& "1<& .$=.$%$19"9301%& 0>& 960%$&

3<$"%(& ?=$*3>3*"::A/& 96$A& <$>31$& 96$& >0::0I31G&

:$H$:%& 0>& $19393$%& 96"9& ".$& 31H0:H$<& 31&

0190:0G3$%_& &

<2=2,(7>& 96$& 05a$*9%/& =.0*$%%$%/& K,":393$%/&

%9"9$%/&$9*(&31&.$":39A&M>0.&$J"#=:$&01&

96$&%3<$&0>&96$&="93$19Nb& &

,&%2,QWHUQDWLRQDO&RQIHUHQFHRQ%LRPHGLFDO2QWRORJ\

-XO\ā%XIIDOR1<86$

!"#"$%&'! !"#$%&'&()! *)+*),)%'-'&#%,! #.! '/&,!

*)-0&'1! 2.#*! )3-4+0)5! #%! '/)! +-*'! #.!

*),)-*"/)*,!-%6!#'/)*,78! !

!"#"$%('! !"#%"*)'&9-'&#%,! #.! '/),)! "#$%&'&()!

*)+*),)%'-'&#%,! &%! *)+*),)%'-'&#%-0!

-*'&.-"',! 2.#*! )3-4+0)5! ')3':-0! #*!

$*-+/&"-07;! !

<%!-!"#%")+':-0!4#6)05!=)!"#%,&6)*!>)()0!?!

)%'&'&),! '#! @)! *)-0&,'! "0-,,),! -%6! +*#+)*'&),;!

>)()0!A!)%'&'&),!"-%!@)!"0-,,),!-%6!+*#+)*'&),!#*!

"#%")+',;!>)()0!B!)%'&'&),!-*)!')*4,5!=/&"/!-*)!

)3+*),,)6! -,! 0)3&"#$*-+/&"-0! 0-@)0,! .#*! "0-,,),!

#*!"#%")+',;!C)!6).&%)!-!"#%")+':-0!4#6)0!-,!-!

VHWRI/HYHOHQWLWLHVZKHUHHDFK´UHSUHVHQWVµD

>)()0!?!#*!>)()0!A!"0-,,!#*!+*#+)*'1!D?E;!F0-,,),!

-%6! +*#+)*'&),! '/-'! -*)! -0,#! "#%")+',! "-%!

'/)*).#*)! *)+*),)%'! '/)4,)0(),;! C)! 6).&%)!

0#$&"-0! 4#6)0,! '#! @)! "#00)"'&#%,! #.! "0-,,),! -%6!

+*#+)*'&),! .*#4! )&'/)*! >)()0! ?! #*! A;! >)()0! A!

)%'&'&),!'/-'!-*)!@#'/!"0-,,),!#*!+*#+)*'&),!-%6!

"#%")+',!'/)*).#*)!)3&,'!@#'/!&%!'/)!"#%")+':-0!

4#6)0! 2'/#,)! -,,)*'&#%,! '/-'! '*)-'! '/)4! -,!

"#%")+',7! -%6! &%! '/)! 0#$&"-0! 4#6)0! 2'/#,)!

-,,)*'&#%,! '/-'! '*)-'! '/)4! -,! "0-,,),! #*!

+*#+)*'&),7;! !

C)!,))G!'#!:,)!"#%")+':-0!4#6)0,!'#!-"/&)()!

"#%")+':-0!&%')*#+)*-@&0&'1!#.!6-'-;!F#%")+':-0!

&%')*#+)*-@&0&'1!&,!'/)!:,)!#.!4#6)0,!#.!/:4-%!

:%6)*,'-%6&%$5!#*!"#%")+':-0!4#6)0,5!'#!+*#(&6)!

&%')*#+)*-@&0&'1!"#44)%,:*-')!=&'/!'/)!0)()0!#.!

-0&$%4)%'! @)'=))%! "#%")+':-0! 4#6)0,! D?B5! H5!

?IE;! J=#! $#-0,! '/-'! =)! ,))G! .#*! "#%")+':-0!

&%')*#+)*-@&0&'1!-*)K! !

!

²! !L-G)! ,&4&0-*! @:'! 6&,'&%"'! 6-'-! *),#:*"),!

-(-&0-@0)! .#*! ,)-*"/5! "#%()*,&#%5! -%6!

&%')*M4-++&%$! &%! -! =-1! '/-'! 4&**#*,!

/:4-%! :%6)*,'-%6&%$! #.! '/)! 6-'-! @)&%$!

,)-*"/)6;! !

²

L-G)!6-'-!*),#:*"),!'/-'!:,)!"*#,,M":''&%$!

4#6)0,5! ,:"/! -,! N>O! (;! B! P<L

^?!

-%6!

+*#()%-%")! 4#6)0,! 2,:"/! -,! QL>! D?HE75!

&%')*#+)*-@0)!=&'/!6#4-&%M,+)"&.&"!4#6)0,!

=&'/#:'!)3+0&"&'!4-++&%$,!@)'=))%!'/)4;! ! P),#:*"),! ,:"/! -,! '/)! R)%)! S3+*),,&#%!

T4%&@:,! 2RST7! D?UE5! V**-1S3+*),,! D?OE5! -%6!

"-V**-1!D?WE!-00!"#%'-&%!,)+-*-')!0#$&"-0!4#6)0,5!

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

?! N)-0'/! >)()0! O! X)*,&#%! B! P).)*)%")! <%.#*4-'&#%!

L#6)0!DWE! !

!

@:'! *)01! #%! *)0-')6! "#%")+':-0! 4#6)0,5! LVRS!

.#*!V**-1S3+*),,!-%6!"-V**-1!D?YE!-%6!L<VLS!

.#*!RST!DAZE;![1!)%"#6&%$!'/&,!4#6)0!#()*!)-"/!

*),#:*")! =&'/! -! "#44#%! (#"-@:0-*15! &'! "#:06!

'/)%! @)"#4)! +#,,&@0)! '#! ,)-*"/! -"*#,,! -00!

*),#:*"),!:,&%$!-!,&%$0)!\:)*15!#*!)-,&01!"#%()*'!

6-'-! .*#4! #%)! *),#:*")! '#! -%#'/)*;! ]&4&0-*015!

"#%")+':-0! &%')*#+)*-@&0&'1! "#:06! )%-@0)! '/)!

-@&0&'1! '#! ,)-*"/! .#*! +-'&)%'! /&,'#*1! -"*#,,!

6#4-&%M,+)"&.&"! 6-'-@-,),! :,&%$! \:)*&),! '/-'!

#%01!'-0G!-@#:'!+-'&)%'!/&,'#*15!-,!=)!,/#=!&%!

#:*! J*-%,0-'&#%-0! P),)-*"/! Q*#()%-%")! X&,&#%!

DA?E!.#*!@&#4)6&"-0!)3+)*&4)%',;! !

&)*%+"$"#,-.%/-.0$012"3%,-4%56,7"80693% %

C)! 0)()*-$)! +*#+)*'&),! -%6! "0-,,),! .*#4! '/)!

[^T! D?ZE! -%6! <%.#*4-'&#%! V*'&.-"'! T%'#0#$1!

2<VT75! DAAE! =/&"/! -*)! &4+0)4)%'-'&#%,! #.! '/)!

,"&)%'&.&"! *)-0&,'! +)*,+)"'&()! #%! 6)()0#+&%$!

#%'#0#$&),;! C)! -0,#! 0)()*-$)! ]_T]! DABE! -,! -!

@-,&,! .#*! ,&4+0)! "#44#%! (#"-@:0-*&),! -%6!

-,,#"&-'&%$! "#%")+':-0! 4#6)0,! =&'/! '/#,)!

(#"-@:0-*&),;!J/&,!=#*G!=-,!@-,)6!#%!+*-"'&"-0!

&,,:),! ,:**#:%6&%$! 4-++&%$! ,)4-%'&",! .*#4!

'/)! "-%")*! [&#4)6&"-0! <%.#*4-'&",! R*&6!

2"-[<R7!DAIE!&%'#!'/)!,)4-%'&"!=)@;!C)!/-()!&%!

WKHSDVWZRUNHGRQFRQYHUWLQJFD%,*·VOD\HUHG

,)4-%'&",! &%'#! TC>! DAH5! AUE! =&'/! ,:""),,8!

/#=)()*5! '/)! *)+*),)%'-'&#%! &,! 0&4&')6! '#!

"-[<R!-++0&"-'&#%,;!V66&'&#%-0015!'/)!4-++&%$!

"#:06! %#'! +*#6:")! -! #%)M'#M#%)! 4-++&%$!

@)'=))%!`L>!-''*&@:'),!-%6!TC>!+*#+)*'&),5!

*),:0'&%$!&%!"#4+0)35!:%&%':&'&()!4#6)0,;! ! (% % :0-;"<.=,$%>-."60<"6,?2$2.@%

% A3"%:,3"3%,-4%+"B=26"7"-.3% % C)!6&(&6)!'/)!+#,,&@0)!:,)!"-,),!#.!"#%")+':-0!

&%')*#+)*-@&0&'1! &%'#! '/*))! $*#:+,K! ,)-*"/! 2#*!

\:)*175! "#%()*,&#%5! -%6! 6&*)"'! 4-++&%$;! S-"/!

#.! '/),)! :,)! "-,),! "-%! @)! '-&0#*)6! '#! ,+)"&.&"!

-++0&"-'&#%,! -%6! -66&'&#%-0! *)\:&*)4)%',!

@-,)6! #%! '/)! 0)()0! #.! &%')*#+)*-@&0&'1! %))6)6;!

J/),)!:,)!"-,),!-*)!%)"),,-*&01!-@,'*-"'5!-%6!

*)+*),)%'!6)"#4+#,&'&#%,!#.!:,),!"-,),!,:"/!-,!

'),'-@0)!/1+#'/),&,!$)%)*-'&#%!&%'#!"#4+#%)%'!

'-,G,;! !

C",6;D'!V!:,)*!=#:06!0&G)!'#!+)*.#*4!\:)*&),!

=&'/! %#! G%#=0)6$)! #.! '/)! :%6)*01&%$! 4#6)0;!

)RU H[DPSOH ´/LVW WKH (GXFDWLRQ /HYHO RI DOO 3HUVRQV LQ D GDWDVHWµ RU ´)LQG PH DOO 7LVVXH

]+)"&4)%,! .*#4! Q)*,#%,! =&'/! -%! V6()*,)!

!"#$%&'()*#&%+,)$-&./0-&

!µ7KDW´'UXJ!µLV

+1%0+**2&+&1*+33&45&6/0-3&3(40*6&$4%&(+"#&%4&7#&+&

14$1#/$&%4&%(#&03#/8& &

!"#$%&'("#)& 9& 03#/& '40*6& *),#& %4& 14$"#/%&

)$3%+$1#

^:&

6+%+& 5/4;& 4$#& *4-)1+*& ;46#*& %4&

+$4%(#/&')%(&+&1#/%+)$&*#"#*&45&5)6#*)%28&<()3&1+$&

7#& 7#%'##$& 64;+)$& ;46#*3=& 4/& 7#%'##$& +&

64;+)$&;46#*&+$6&+&1/433>10%%)$-&;46#*=&301(&

+3& +& ?/4"#$+$1#& ;46#*8& @4/& #A+;?*#=& '(#$&

#"#$%3& 45&

"#$%$&'#( )*+,$&*& 4110/& ')%(& +& -)"#$&

-'.*=& 62$+;)1+**2& 1/#+%#& +& /#14/6& 45& /$.'#(

).'.01& 45&2#$,*& 4$& %(+%&-'.*8& <(#3#& 6+%+& +/#&

1/)%)1+*& 54/& %44*3& *),#& B+?*+$>C#)#/& 30/")"+*&

10/"#3&D:EF=&70%&+"+)*+7)*)%2&45&#$140$%#/&6+%+&

1+$&7#&31+%%#/#6&+1/433&;0*%)?*#&4/-+$)G+%)4$3&

+$6&323%#;3&%(+%&03#&6)55#/#$%&)$%#/$+*&;46#*38& &

*+,,(#-)& 9& 03#/& '40*6& *),#& %4& 1/#+%#& +$&

+0%4;+%#6& ;+??)$-& 7#%'##$& %'4& *4-)1+*&

;46#*38& @4/& #A+;?*#=& %+,#& #A)3%)$-& 1+HIJ&

6+%+&;46#*3&+$6&+*)-$&%(#;&')%(&%(#&HKI.J&

LH)4;#6)1+*& K#3#+/1(& I$%#-/+%#6& .4;+)$&

J/40?M&;46#*&D:NF8&<()3&'40*6&4110/&'(#$&)%&)3&

6#3)/+7*#& 54/& %(#& 9$$4%+%)4$& +$6& I;+-#&

C+/,0?&D:OF&1*+33&3*+14%&%4&7#&+0%4;+%)1+**2&

;+??#6& +3& 3071*+33& 45&

5+$6783*+14%^P&

7#1+03#&

45&%(#)/&;0%0+*&/#*+%)4$3()?&')%(&%&$.83*+14%

^Q

8& &

R#& (+"#& )6#$%)5)#6& +& $0;7#/& 45& /#S0)/#>

;#$%3&54/&%44*3&%(+%&'40*6&30??4/%&%(#3#&03#&

1+3#3T& &

!".."#/ 0"1+234+&5)& U4$1#?%0+*& ;46#*3&

;03%&03#&+&14;;4$&"41+70*+/2&%(+%&)3&6)3%)$1%&

5/4;&+$2&?+/%)10*+/&14$1#?%0+*&;46#*8&<()3&)3&

%4& +**4'& ?4/%+7)*)%2& 45& "41+70*+/)#3& 7#%'##$&

;46#*3=&+$6&?/#"#$%&%(#&/#*)+$1#&4$&4$#&?+/>

%)10*+/& /#?/#3#$%+%)4$& %(+%& ;)-(%& 5+"4/& 4$#&

*4-)1+*&;46#*&4"#/&+$4%(#/8& &

6('7(#17("#/ 8&"./ 9"-(1+4/ *":%4')& 9&

14$1#?%0+*&;46#*&+$6&)%3&"41+70*+/2&;03%&$4%&

7#& /#?/#3#$%#6& )$& %(#& 3+;#& ;#%+;46#*& +3& +&

*4-)1+*& ;46#*8& .4)$-& 34& )$& ;#%+;46#*3& %(+%&

30??4/%& /#+34$)$-& ;+2& +**4'& 54/& 6)/#1%&

)$5#/#$1#3& 7#%'##$& 14$1#?%0+*& +$6& *4-)1+*&

*+2#/38&<()3&1+$&(+"#&0$)$%#$6#6&14$3#S0#$1#3=&

54/& #A+;?*#=& )$& 1+3#3& '(#/#& %(#& *4-)1+*& +$6&

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

:& I$3%+$1#3& (#/#& +$6& )$& %(#& /#3%& 45& %(#& ?+?#/&

)$54/;+**2& /#5#/& %4& VRW& I$6)")60+*3=& )$&

?+/%)10*+/=&<2?#&X&)$6)")60+*3&)$&/#+*)%28&

P& &HKI.JT&H)4;#6)1+*&K#3#+/1(&I$%#-/+%#6&.4;+)$&

J/40?8&(%%?TYY7/)6-;46#*84/-& &

&

Q& $1)%T&ZUI&<(#3+0/038&(%%?TYY$1)%8$1)8$)(8-4"& &

&

14$1#?%0+*&;46#*3&+/#&74%(&#A?/#33#6&)$&VRW8&

I5& %(#& *4-)1+*& ;46#*& (+3& 1*+33#3& %(+%& +/#&

30730;#6&72&14$1#?%0+*&;46#*&1*+33#3=&%(#$&)%&

$4&*4$-#/&7#14;#3&1*#+/&'(#%(#/&%(#&)$3%+$1#&

)3& /#5#//)$-& %4& +$& )$3%+$1#& 45& +& %()$-=& 4/& +$&

)$3%+$1#&45&+$&)6#+&45&+&%()$-8& &

;+73&+4</=:(".+7(1/>?,&%''("#)&9&14$1#?%0+*&

;46#*)$-& 5/+;#'4/,& ;03%& 30??4/%& $+%0/+*=&

)6)4;+%)1& #A?/#33)4$& 45& %(#& +1%0+*& 6+%+& )$& )%3&

$+%0/+*&54/;8&<()3&;#+$3&%(+%&%(#/#&;03%&$#"#/&

7#&+$2&$##6&%4&;46)52&+&*4-)1+*&;46#*&4/&)%3&6+%+&

)$& 4/6#/& %4& +**4'& +$$4%+%)4$& 45& +& 14$1#?%0+*&

;46#*&4$%4&)%8& &

@5,%'</ A&",%&7(%'</ +#:/ B%4+7("#')& 9&

14$1#?%0+*&;46#*)$-&5/+;#'4/,&;03%&?/4")6#&

+&'+2&%4&#A?/#33&/#*+%)4$3()?3&7#%'##$&%2?#3=&

?/4?#/%)#3=&+$6&/#*+%)4$38& &

C::(7("#+4/ B%4+7("#'D(,')& C43%& 14$1#?%3&

(+"#& )$%#/>/#*+%)4$3()?3& %(+%& 1+$& +33)3%& )$&

);?/4")$-& 14$1#?%0+*& )$%#/4?#/+7)*)%28& 9$2&

5/+;#'4/,&;03%&?/4")6#&+&'+2&45&#A?/#33)$-&

%(#3#&+66)%)4$+*&/#*+%)4$3()?38& &

<(#3#& /#S0)/#;#$%3& 14;#& 5/4;& ?/#")403&

#A?#/)#$1#& ')%(& ;46#*)$-& *+2#/#6& 3#;+$%)13&

03)$-& VRW& D:[F& '(#/#& /#*+%)$-& ;46#*3& ')%(&

/#5#/#$1#&%#/;)$4*4-)#3&#A?/#33#6&)$&%(#&3+;#&

*+$-0+-#&LVRW&XM&?/4"#6&?/47*#;+%)18& &

E/ /@D%/!"#1%,73+4/*":%4/

F#7"4"-5/ /

<(#& U4$1#?%0+*& C46#*& V$%4*4-2& LUCVM

^[&

)3& +&

;#%+;46#*&54/&/#?/#3#$%)$-&14$1#?%0+*&;46#*3&

+$6&%(#)/&)$%#/>/#*+%)4$3()?3&%4&*4-)1+*&;46#*3&

+$6& "41+70*+/)#38& U4/#& %4& %(#&UCV&+/#& %(#3#&

%(/##&1*+33#3T& &

1.")@5,%G/

9$&+73%/+1%&4/&-#$#/+*&)6#+&)$5#//#6&

4/&6#/)"#6&5/4;&3?#1)5)1&)$&3%+$1#3=&/#?/#3#$%)$-&

+&3#%&45&%(43#&)$3%+$1#38& &

1.")H3+4(75G& <(#& 14$1#?%0+*& /#?/#3#$%+%)4$&

45&+$2%()$-&%(+%&)3&+&?/4?#/%2&L+&%()$-&%(+%&)3&

)$(#/#$%& )$& +$& #$%)%2=& *),#& #2#& 14*4/M& 4/& +$&

+%%/)70%#& L+& %()$-& %(+%& (+3& 7##$& +33)-$#6=& 4/&

+%%/)70%#6=& %4& +$& #$%)%2=& *),#& $+;#& 4/&

)6#$%)5)1+%)4$& $0;7#/M8&

&948:0'#$.;& )3& %(#&

0$)4$& 45& %(43#& %'4& 3#%3=& 34& )330#3& /#*+%)$-& %4&

6#%#/;)$)$-& )5& +& S0+*)%2& )3& +$& +%%/)70%#& 4/&

?/4?#/%2&+/#&$4%&/#*#"+$%&(#/#8& &

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[& (%%?TYY?0/*84/-Y%'1Y4$%4*4-)#3Y1;484'*& &

!"#$%&'()*#+,! "! #$%#&'(! )&')&*&%(+%,! (-&!

)&./(+$%*-+'!0&(1&&%!(1$!+%2&'&%2&%(!&%(+(+&*3! ! 4/#-! $5! (-&*&! #./**&*! /)&! *60#./**&*! $5!

!"#!$%#&'()*7! 1-+#-! +*! +%! (6)%! +*! /**&)(&2! +%!

89:! ($! 0&! /! *60#./**! $5! +,#$+&-#./,*+#&0 '#&*(&*0 (&*+*1! ;<<=3! >-&*&! #$%#&'(*! /)&!

#$%*+2&)&2! ?&@&.! <! &%(+(+&*! 5)$A! BA+(-! (*0 ,23!

;<=3!8$%#&'(*!/)&!(+&2!($!.$,+#/.!A$2&.!&%(+(+&*!

(-)$6,-! (-&! '/#$.().(!(&*!! ')$'&)(C7! /!

*60')$'&)(C!$5! +,#$+!0,3#4*3!4%(+(+&*!+%!.$,+#/.!

A$2&.*! #/%! &+(-&)! 0&! #$%#&'(*! $)! D%+@&)*/.*!

E>C'&!F!&%(+(+&*G3!'/#$5&+6(.!,2!+*!/!*60#./**!$5!

3-#$+&7()(&7(&*8'#&*+&4(&*! /%2! '/#$9+,*0 :&*+*1!+*!/!*60#./**!$5!3-#$;(&(.+',22187()(&7<

(&*8'#&*+&4(&*3! H$(-! '/#$5&+6(.!,2! /%2!

'/#$9+,*:&*+*1!-/@&!)&I6+*+(&!#./**&*7!I6/.+(+&*7!

/%2! )&./(+$%*7! /%2! /)&! +%(&%2&2! ($! 0&! (C'&*!

(-/(! /)&! '6%%&2! $%! ($! :J?! #./**&*! /%2!

')$'&)(+&*!+%!(-&!:J?!<!A&(/A$2&.+%,!'/((&)%!

;KL=3!>-&!#./**!-+&)/)#-C!+*!2+*'./C&2!+%!M+,6)&!

F3!8./**&*!(-/(!/)&!%$(!6%+@&)*/.*!/)&!6*6/..C!

#$%*+2&)&2!($!0&!(-&A*&.@&*!#$%#&'(*7!/%2!/)&!

A&(/A$2&.&2!/*! !"#!$%#&'()*!3!>-&*&!#./**&*7!

*+%#&! (-&C! /)&! (-&A*&.@&*! #$%#&'(*7! +%! /! @&)C!

)&/.!*&%*&!)&')&*&%(!(-&A*&.@&*3!N$1&@&)7!+(!+*!

+A'$**+0.&! 5$)! /! 6%+@&)*/.! ($! )&')&*&%(! +(*&.57!

*+%#&! 6%+@&)*/.*! /)&! %$(! #$%*+2&)&2! ($! 0&!

#$%#&'(*3! !

B60')$'&)(+&*! $5! !"#!$3.#,7=,*'>! /)&!

')$@+2&2!($!')$@+2&!)&./(+$%*-+'*!0&(1&&%!89:!

#$%#&'(*!/%2!#$AA$%!@$#/06./)+&*3!J&!')$@+2&!

'/#$>,!?.+/,.1%#&'()*!/%2! '/#$>,!0@4,2+-+(.!

($! /..$1! 5$)! A$)&! %6/%#&2! #$A'$*+(+$%7! 5$)!

&O/A'.&!/..$1LQJ´7LVVXH6SHFLPHQµWRKDYHD

SULPDU\FRQFHSWRI´6SHFLPHQµDQGDTXDOL5+&)!$5!

´7LVVXHµ

!

J&!6*&!BP:B!/*!/!0/*+*!5$)!89:!0&#/6*&!

$5! +(*! 5$..$1+%,! ')$'&)(+&*3! BP:B! #$%#&'(*!

6%/A0+,6$6*.C! /.+,%! ($! (-&! 2&5+%+(+$%*! $5!

#$%#&'(*!(-/(!1&!/)&!6*+%,!E/*!?&@&.!<!&%(+(+&*G7!

1-+.&! :J?! +*! /A0+,6$6*! +%! +(*! 2&5+%+(+$%*! $5!

´FODVVµLWFRXOGHLWKHUEHFRQVLGHUHGDVHWRUD

#$%#&'(3!>-+*!+*!+A'$)(/%(7!0&#/6*&!1&!*&&Q!($!

2)/1! /! 2+*(+%#(+$%! 0&(1&&%! #$%#&'(*! /*! (-&C!

&O+*(! +%! #$%#&'(6/.! A$2&.*7! /%2! (-&! *&(*! $5!

(-+%,*! (-/(! (-&C! )&')&*&%(3! ".(&)%/(+@&.C7!

)&A/+%+%,!+%!:J?!R?!A&/%*!(-/(!($!6*&!:J?!

#./**&*! /*! /! #$AA$%! @$#/06./)C! 1$6.2! A&/%!

&+(-&)! #)&/(+%,! +%*(/%#&*! $5! (-/(! #./**! $)!

'6%%+%,!(-/(!#./**!($!/%!+%*(/%#&3!S6%%+%,!(-&!

#./**! A&/%*! (-/(! (-&! +%*(/%#&! %$! .$%,&)! -/*!

/%C! *&A/%(+#*! /**$#+/(&2! 1+(-! +(7! /%2! 1$6.2!

%&&2! ($! &+(-&)! 0&! ,+@&%! (-&! (C'&! $5! (-&! :J?!

#./**! ($! )&,/+%! *&A/%(+#*7! $)! 0&! ,+@&%!

*&#$%2/)C! *&A/%(+#*! 6*+%,! /%! /.(&)%/(+@&!

*()6#(6)&3! N&)&! 1&! 2$! &O/#(.C! (-/(! 0C! ,+@+%,!

(-&! +%*(/%#&! *&A/%(+#*! 6*+%,! BP:B3! T+@+%,!

(-&! #./**! /*! /! (C'&! $5! (-&! +%*(/%#&! +%! (-&!

#$%#&'(6/.!A$2&.!+*!/.*$!')$0.&A/(+#7!0&#/6*&!

+(!#$%5./(&*!0&+%,!/!(-+%,!$5!/!(C'&!/%2!0&+%,!

(-&!+2&/!$5!/!(C'&3!>-&!+2&/!$5!/!#/(!+*!%$(!/!#/(7!

/%2! 1-&%! #)&/(+%,! /! #$%#&'(6/.! A&(/A$2&.!

(-/(! +%(&,)/(&*! 1+(-! +%*(/%#&! 2/(/7! +(! +*!

+A'$)(/%(!($!A/+%(/+%!(-/(!2+*(+%#(+$%3! ! '/#$A1)(! )&./(&*! ($! '/#$@4,2+*1! (-)$6,-!

(-&! 6*&! $5! '/#$>,!@4,2+*1! /%2! +(*! +%@&)*&7!

'/#$B4,2+*1C-3! U6/.+(+&*! #/%! -/@&! '/#$6,24(!0

%,&D(! /**&)(+$%*! 1-+#-! ')$@+2&! (-&! *&(! $5!

'$**+0.&! @/.6&*! 5$)! (-/(! I6/.+(C3! '/#$E(2,*+#&!

-/*! *$6)#&! E'/#$>,!F#4.'(E#2(G! /%2! (/),&(!

E'/#$>,!A,.;(*E#2(G!(C'&*!1-+#-!-&.'!2&*#)+0&!

-$1!(-$*&!&%(+(+&*!/)&!)&./(&23!>/Q&%!($,&(-&)7!

(-&*&! I6/.+(+&*! /%2! )&./(+$%*! 5$)A! (-&!

*()6#(6)&!$5!/!#$%#&'(6/.!A$2&.3!>-&!)&./(+$%*!

$5!89:!/)&!$6(.+%&2!+%!M+,6)&!<3!HC!(C+%,!+%($!

&O+*(+%,! #$AA$%! @$#/06./)+&*7! 89:V0/*&2!

#$%#&'(! A$2&.*! #/%! 0&! &/*+.C! /.+,%&2! /.$%,!

(-$*&!@$#/06./)+&*7!/*!1&!1+..!*-$1!0&.$13! !

-. ./"0'&"&+)()*#+. .

>-&! 8$%#&'(6/.! 9$2&.! :%($.$,C! +*! #6))&%(.C!

XVHG DV D EDFNERQH IRU ´VHPDQWLF ZHE IRU WKH

%LRPHGLFDO,QIRUPDWLFV*ULGµVZ%,*7KLVWRRO

+*! #6))&%(.C! /@/+./0.&! /*! /! ')$($(C'&! W4B>56.!

*&)@+#&!;KF=!(-/(!#$%@&)(*!)&I6&*(*!5$)!)&*$6)#&*!

5)$A!.+%Q&2!2/(/!DWX*!($!#/T)+2!*&)@+#&!#/..*!($!

)&I6+*+(&! ,)+2! &%2'$+%(*3! >-+*! *&)@+#&! 6*&*! /!

)&')&*&%(/(+$%!$5!Y8X!>-&*/6)6*!;K<=!#$%@&)(&2!

($!/!BP:B!)&')&*&%(/(+$%!6*+%,!:J?($BP:B3!

>-+*!)&')&*&%(/(+$%!/22)&**&*!*$A&7!06(!%$(!/..!

$5!(-&!#$%#&)%*!$5!B-6.Z!(*0,23!;KK=7!/%2!')$@+2&*!

(-&!/0+.+(C!($!)&/*$%!$@&)!#$%#&'(*!/*!+%*(/%#&*!

+%!')$'&)(C!@/.6&!*&(*!/*!1&..!/*!+%!#$%#&'(6/.!

A$2&.*3! >-&! )&()+&@/.! $'&)/(+$%*! /)&! @&)C!

*+A'.&!/%2!/)&!2$#6A&%(&2!$%!(-&!*1HXT!1&0!

*+(&3! >-&! *$6)#&! D9?! A$2&.*! /)&! @&)C! #.$*&.C!

A/''&2!($!')&*&)@&!,&%&)/.+Z/(+$%*7!/(()+06(&*7!

/%2! /**$#+/(+$%*3! 8./**! /%2! @/.6&! (C'+%,! $%!

/(()+06(&*! /%2! /**$#+/(+$%*! E6*+%,! 2$A/+%! /%2!

)/%,&G! /%2! #/)2+%/.+(C! /)&! ')&*&)@&23! J-&%!

'&)A+**+0.&!@/.6&*!/)&!.+*(&2!5$)!/%!/(()+06(&!/*!

'/)(!$5!(-&!8$AA$%!R/(/!4.&A&%(!E8R4G!;K[=!

;K\=7!/%!:J?!:0]&#(S)$'&)(C!+*!#)&/(&2!1+(-!/!

)/%,&!$5!/%!&%6A&)/(+$%!#./**!$5!(-&!'&)A+((&2!

!"#!$%&'()#"&('&*+#,'-.(/0$(!"#!$%&'(1"*(!23''$'4(

3&&*+56&$'4( 3#7( %*"%$*&+$'( 3'( *$%*$'$#&$7( +#(

89:'(3*$(;"7$2$7(6'+#,(8<=.(>#'&3#!$(73&3(+'(

,$#$*3&$7( 6'+#,( &0$( ;"7$2( &"( 7$&$*;+#$( 3#7(

?6$*@( 3''"!+3&+"#'( 3#7( !"#A$*&( A326$'( &"(

!"#!$%&'(B0$#(3(%$*;+''+52$(A326$(;3%%+#,(+'(

6'$7.(

( (

!"#$%&'()!"#$!"%&''('!&)*!+,(-.!.(%&+-/)',-0'!1-+,!23$4!56$4!&)*!78$79!6%%!*-&:.&;'!

&.(!:()(.&+(*!<'-):!"#&0!"$=!>,++0?@@A/(9-,;A9<'B4!&)*!C/%%/1!-+'!%&D(%-):!A/)E()+-/)'9! !

(

!"#$%&'*)!"#$!0./0(.+-('!&)*!,/1!+,(F!-)+(:.&+(!1-+,!78$7!&)*!56$9! !

!"#$%&'()*+',-../+00/1234*250.6(0*7.*3*589:0()*4*63;<''

!"#$%&':=*:+',-../+0066646>4*250?@@A0@?0:=*:0(*29;<'!"#$%&'7(8.+' ,-../+007(8(B47(8478-45*C0D)30*630#EF0G-9:H121:4*63;<'

''

:939(.'(*17.IJ8:.87(.'K/92:*7L'H:'K(*17.'KCH319'' 6-929'M''

K/92:*7'H'N()*+29/29:97.9JOP'N:=*:+B2*HJ92'7(8.+!92:*7QQ4'' K/92:*7'K/2*/'N2JR:+3HB93'KCH319Q4''

K/2*/'()*+29/29:97.9JOP'N:=*:+B2*HJ92'7(8.+#J1(H.8*7ST9C93Q4' U

!

!"#$%&'(!YƵĞƌLJϭ͗͞ZĞƚƵƌŶƚŚĞĚŝƐƚƌŝďƵƚŝŽŶŽĨĞĚƵĐĂƚŝŽŶůĞǀĞůŽĨĂůůƉĞƌƐŽŶƐŝŶƚŚĞ,/Ed^ϮϬϬϱŐƌŝĚƐĞƌǀŝĐĞ͘͟!

"#$%!&'()*!$%!+(),-).(/!0*!-12*!'%$13!4().%!,)-.!5!6-..-1!7-650'25)*8!9:;!"#(%5')'%<!

"! ! #$%&'%()*+! !

!"#$%&'(#)*+,-$.&/#-$0'*&-&12$,//3#44#4$,--$&5$

*"#$ (&'(#)*+,-$ 6'*#3&)#3,76-6*2$ +4#$ (,4#4$ ,'/$

3#8+63#9#'*4:$;&3$#<,9)-#=$*"#$>+#32$+4#$(,4#$

64$ 4,*6456#/$ ?6*"$ 8+#36#4$ 4+("$ ,4$ *"#$ &'#$ 6'$

;61+3#$ @=$ ?"6("$ 8+#36#4$ 5&3$ *"#$ '+97#3$ &5$

4+3A#2$ ),3*6(6),'*4$ ?6*"$ ,$ 16A#'$ -#A#-$ &5$

#/+(,*6&':$ !"#$ 3#4+-*4$ &5$ *"64$ 8+#32$ ,3#$

/64)-,2#/$6'$;61+3#$B:$

%&'A#346&'$ &5$ /,*,$ (,'$ 7#$ ",'/-#/$ +46'1$

3+-#4$4+("$,4$*"#$&'#$6'$;61+3#$C:$!"64$#<,9)-#$

6--+4*3,*#4$"&?$%.0$(,'$7#$9&/656#/$/#)#'/6'1$

&'$ *"#$ 3#8+63#9#'*4$ &5$ *"#$ *,4D:$ !"#$ 7+6-*E6'$

4#9,'*6(4$ &5$ %.0$ ,3#$ D#)*$ 96'69,-$ 4&$ *",*$

3+-#4$7,4#/$&'$6*$(,'$7#$*,6-&3#/$*&$*"#$'##/4$&5$

*"#$ *,4D:$ F&9#$ ,))-6(,*6&'4$ 9,2$ 3#8+63#$ A#32$

4*36(*$ (&'(#)*+,-$ ,-61'9#'*=$ ?"6-#$ &*"#3$

,))-6(,*6&'4$ 9,2$ 3#8+63#$ ,$ -&&4#3$ (&+)-6'1$ 6'$

&3/#3$*&$9##*$3#8+63#9#'*4:$.&/#-4$(,'$,-4&$7#$

9,))#/$ /63#(*-2$ &'*&$ #,("$ &*"#3$ ,4$ 4"&?'$ 6'$

;61+3#$G:$ $

%.0$ ,-4&$ 4,*6456#4$ (&'(#)*+,-$ 6'*#3&)#3,E 76-6*2$ 3#8+63#9#'*4:$ %&99&'$ A&(,7+-,36#4$ ,3#$

/64*6'(*$53&9$*"#$(&'(#)*+,-$,'/$-&16(,-$9&/#-4:$

H<64*6'1$ &'*&-&16#4$ 6'$ 0IJ$ (,'$ 7#$ ,''&*,*#/$

?6*"&+*$ 9&/656(,*6&'$ &3$ (",'1#$ *&$ #<64*6'1$

4#9,'*6(4:$ I"6-#$ %.0$ 64$ +4#/$ *&$ #<)3#44$

4#9,'*6(4$53&9$(,KLM=$6*$64$'&*$-696*#/$*&$(,KLM$

9&/#-4:$%.0$)3&A6/#4$,$469)-#$?,2$*&$#<)3#44$

3#-,*6&'4"6)4$ 7#*?##'$ *2)#4=$ )3&)#3*6#4=$ ,'/$

3#-,*6&'4:$;6',--2=$7#(,+4#$6*$+4#4$FN0FE7,4#/$

(&99&'$ A&(,7+-,36#4=$ %.0$ ,--&?4$ ,//6*6&',-$

3#-,*6&'4"6)4$ *&$ 7#$ ,44#3*#/$ 7#*?##'$ *"&4#$

(&'(#)*4:$ ;&3$ #<,9)-#=$ 6*$ 64$ )&4467-#$ *&$ ,44#3*$

*",*$ 763/4$ (,'$ 5-2$ ,*$ *"#$ (&'(#)*+,-$ -#A#-$ ?6*"$

/63#(*$ ,44#3*6&'4$ *",*$ ",A#$ '&$ ,+*&9,*6($

6'5#3#'(#:$O#35&396'1$*"64$+46'1$(&'(#)*4$9#,'4$

*",*$ *"64$ (,'$ 7#$ (&9),3#/$ ,1,6'4*$ 6'4*,'(#4$

?6*"&+*$*3611#36'1$(&'464*#'(2$#<(#)*6&'4=$4+("$

,4$*"#$(,4#$?6*"$5-61"*-#44$&3$6'P+3#/$763/4:

,! ! -'('./!0*.1! !

I#$,3#$(+33#'*-2$6'A#4*61,*6'1$*"#$+4#$&5$%.0$

9&/#-4$*&$)3&A6/#$,+*&9,*#/$9,))6'14$&5$(,KLM$

/,*,$#-#9#'*4$6'*&$*"#$KQLRM$(-6'6(,-$9&/#-:$

!"64$ #55&3*$ ",4$ 4##'$ 4&9#$ 6'6*6,-$ 4+((#44=$ ,'/$

?&3D$(&'*6'+#4:$S//6*6&',--2=$?#$?6--$#<)-&3#$*"#$

+4#$&5$%.0$*&$3#)3#4#'*$/&9,6'E4)#(656($9&/#-4$

6'$3#-,*6&'$*&$,$(&99&'$9&/#-$&5$)3&A#','(#$,4$

#'A646&'#/$6'$.(%+4D#3$,'/$.(M+6''#44$TUVW$

6'(-+/6'1$ (&'(#)*+,-$ 3#)3#4#'*,*6&'4$ &5$

76&9#/6(,-$#<)#369#'*4:$I#$,-4&$,3#$#<)-&36'1$

*"#$ +4#$ &5$ ,$ (&99&'$ A&(,7+-,32$ *&$ )3&A6/#$ ,$

+'656#/$A6#?$&5$#<64*6'1$)3&A#','(#$9&/#-4$,'/$

/&9,6'$9&/#-4$6'$*#394$&5$)3&A#','(#:$I#$"&)#$

*&$ /&$ *"64$ ?6*"$ *"#$ !3,'4-,*6&',-$ .#/6(6'#$

0'*&-&12$T@XW:$I#$)-,'$*&$)3&A6/#$4,*645,(*6&'$&5$

,//6*6&',-$+4#$(,4#4$,4$?#--:$ $ $

!

!"#$%&'()!"#$%&#'(%#)*!)+!,-(./%#)*/0!0,1,0!#*!%2,!34567!899:!$(&1,;<!

62,$,!-/%/!=,&,!>/%2,&,-!($#*>!%2,!?(,&;!#*!@#>(&,!A<! !

!"#$%&'*)!B/CC#*>!-/%/!+&)D!)*,!0)>#./0!D)-,0!%)!/*)%2,&<!LJŝĚĞŶƚŝĨLJŝŶŐƚŚĂƚĂ͞ƉĂƌĞŶƚ͟ĐůĂƐƐŚĂŶŐƐĚŝƌĞĐƚůLJ!

)++!)+!/!'&)/-,&!ƚĞƌŵŽĨĂ͞ĐŚŝůĚ͟!ĐůĂƐƐ͕ĂŶŝŶƐƚĂŶĐĞŽĨƚŚĞ͞ĐŚŝůĚ͟ĐůĂƐƐĐĂŶďĞŐŝǀĞŶƚŚĞƚLJƉĞŽĨƚŚĞ͞ƉĂƌĞŶƚ͘͟!

!

!"#$%&'+)!B/CC#*>!0)>#./0!D)-,0$!-#&,.%0;!)*!%)!,/.2!)%2,&!./*!',!/..)DC0#$2,-!';!-#$.)1,&#*>!&,0/%#1,!&,0/%#)*$2#C$!)+!%2,!.0/$$,$!

=#%2#*!%2,!.)DD)*!1)./'(0/&;<!62,!0,+%!2/*-!$#-,!)+!%2,!+#>(&,!$2)=$!%2,!C&,.)*-#%#)*!+)&!D/CC#*>!)*,!.0/$$!%)!/*)%2,&<!62,!&#>2%!

$#-,!#$!%2,!+#ŶĂůƐƚĂƚĞ͕ǁŚĞƌĞƚŚĞĂĚĚĞĚ͞ĂƌĞ͟ĂƌĐƌĞƉƌĞƐĞŶƚƐƚŚĞ!/$$,&%#)*!%2/%!!"#$%&'()%**!#$!*)=!/!$('.0/$$!)+!!+,&"-()%**<!

!"#$%%&'()*+(,-./(#-0(&.0(12-3",.($(4$&(0-(5$1(

6.04..#( ,"77.2.#0( %.3.%/( -7( 82$#9%$2"0&:( +#.(

5-,.%(5$&(2.12./.#0($(2.%$0"-#/;"1($/($(,"2.<0(

%"#='(4;"%.($#-0;.2(5$&(12-3",.($#("#0.23.#"#8(

<%$//(4;"<;(12-3",./(5-2.("#7-25$0"-#:(>0(4-9%,(

6.(9/.79%(7-2()*+(0-("#<%9,.($(12-1.20&(7-2(;-4(

0;./.(%.3.%/(2.%$0.:( (

!" " #$%&'()*$%" " "

)-#<.109$%(5-,.%/(<$#(1%$&($(/"8#"7"<$#0(2-%.("#(

$90-5$0.,( /.5$#0"<( "#0.2-1.2$6"%"0&'( 6.<$9/.(

0;.&( <$#( $%%-4( 0;.( "#0.82$0"-#( -7( ,$0$( 72-5(

$<2-//(%-8"<$%(5-,.%/(4"0;-90(0;.(#..,(7-2(,"2.<0(

"#0.82$0"-#( -7( %-8"<$%( 5-,.%/:( ?;.( )-#<.109$%(

*-,.%( +#0-%-8&( <$#( /911-20( "51-20$#0( 9/./(

<$/./("#(<-#<.109$%("#0.2-1.2$6"%"0&($#,("/(6."#8(

9/.,( 0-( 2.12./.#0( .@"/0"#8( /.5$#0"</( 72-5( $(

%$28.( /-704$2.( ,.3.%-15.#0( 12-82$5( A<$B>CD:(

)*+( "/( <922.#0%&( $3$"%$6%.( 7-2( 9/.( 4"0;(

"#/0$#<.( ,$0$( 9/"#8( 0;.( /4B>C( %"#=.,( ,$0$(

12-@&:( !"#$%%&'( )*+( "/( #-0( %"5"0.,( 0-( <$B>C(

5-,.%/'(690(<$#(6.($11%".,(0-($#&(%-8"<$%(5-,.%(

.@12.//.,("#(+EF:( (

+,-,.,%&,)" "

G:( ( ).9/0.2/'( E:'( H5"0;'( B:I( !-9#,$0"-#/( 7-2( $(

2.$%"/0( -#0-%-8&( -7( 5.#0$%( ,"/.$/.:( J-92#$%( -7(

B"-5.,"<$%(H.5$#0"</(/AGD(AKLGLD(GL( (

K:( ( H5"0;'( B:'( M9/#".2<N&='( E:'( H<;-6.2'( O:'(

).9/0.2/'( E:I( ?-4$2,/( $( 2.7.2.#<.( 0.25"#-%-8&(

7-2( -#0-%-8&( 2./.$2<;( $#,( ,.3.%-15.#0( "#( 0;.(

6"-5.,"<$%(,-5$"#:(>#I(P2-<..,"#8/(-7(MQR*SO:(

T-%95.(KLLU:'()"0./..2(AKLLUD(VW²UV( (

X:( ( *.%#"='( H:'( O.<=.2'( H:I( Y( %$&.2.,( $112-$<;( 0-(

"#7-25$0"-#(5-,.%"#8($#,("#0.2-1.2$6"%"0&(-#(0;.(

ZHE,Q3URFRIWKH(&'/·:RUNVKRSRQWKH H.5$#0"<(E.6:(AKLLLD( (

Z:( ( F9<"$#-'(J:'(H0.3.#/'(Q:I(.RH<".#<.($#,(6"-%-8"<$%(

1$0;4$&( /.5$#0"</:( B*)( 6"-"#7-25$0"</( !"

AH911%(XD(AKLLWD(HX( (

V:( ( ?-%='( Y:I( E;$0( <-5./( $70.2( 0;.( /.5$#0"<(

4.6R1$,/("51%"<$0"-#/(7-2(0;.(,&#$5"<(4.6:(>#I(

P2-<..,"#8/(-7(0;.(KL0;(E-2=/;-1(-#(P2"#<"1%./(

-7( Y,3$#<.,( $#,( O"/02"690.,( H"59%$0"-#'( >SSS(

)-5190.2(H-<".0&(AKLLUD(VV( (

U:( ( Y/;692#.2'(*:'(B$%%'():'(B%$=.'(J:'(B-0/0."#'(O:'(

B90%.2'( [:'( );.22&'( J:'( O$3"/'( Y:'( O-%"#/="'( M:'(

O4"8;0'(H:'(S11"8'(J:'(.0($%:I(C.#.(-#0-%-8&I(0--%(

7-2( 0;.( 9#"7"<$0"-#( -7( 6"-%-8&:( \$092.( 8.#.0"</(

01AGD(AKLLLD(KV( (

W:( ( H5"0;'( B:'( Y/;692#.2'( *:'( Q-//.'( ):'( B$2,'( J:'(

B98'(E:'().9/0.2/'(E:'(C-%,6.28'(F:'(S"%6.<='(M:'(

>2.%$#,'(Y:'(*9#8$%%'():'(.0($%:I(?;.(-6-(7-9#,2&I(

<--2,"#$0.,( .3-%90"-#( -7( -#0-%-8"./( 0-( /911-20(

6"-5.,"<$%( ,$0$( "#0.82$0"-#:( \$092.(

6"-0.<;#-%-8&(01AGGD(AKLLWD(GKVG²GKVV( (

]:( ( H<;$,-4'( C:'( Q9//%.2'( O:'( *.$,'( ):'( *<O-#$%,'(

):I( >#0.82$0"#8( 5.,"<$%( "#7-25$0"-#( $#,(

=#-4%.,8.( "#( 0;.( [FW( Q>*:( >#I( P2-<..,"#8/( -7(

0;.( Y*>Y( H&51-/"95'( Y5.2"<$#( *.,"<$%(

>#7-25$0"</(Y//-<"$0"-#(AKLLLD(WUZ( (

^:( ( M$%2$'( O:'( B.$%.'( ?:'( [.$2,'( H:I( ?;.( -1.#.;2(

7-9#,$0"-#:( H09,"./( "#( [.$%0;( ?.<;#-%-8&( $#,(

>#7-25$0"</(//1(AKLLVD(GVX²GWX( (

GL:( (H5"0;'( B:I( B.&-#,( <-#<.10/I( -#0-%-8&( $/( 2.$%"0&(

2.12./.#0$0"-#:( >#I( !-25$%( +#0-%-8&( >#(

>#7-25$0"-#( H&/0.5/I( P2-<..,"#8/( -7( 0;.( ?;"2,(

>#0.2#$0"-#$%( )-#7.2.#<.( A!+>HRKLLZD'( >+H(

P2.//(AKLLZD(WX²]Z( (

GG:(H5"0;'(B:'().9/0.2/'(E:I(+#0-%-8"<$%(2.$%"/5($/($(

5.0;-,-%-8&( 7-2( <--2,"#$0.,( .3-%90"-#( -7(

/<".#0"7"<( -#0-%-8"./:( Y11%".,( +#0-%-8&(1( AKLGLD(

GX^²G]]( (

GK:( (C2.#-#'( P:'( H5"0;'( B:I( H\YP( $#,( HPY\I(

?-4$2,/( ,&#$5"<( /1$0"$%( -#0-%-8&:( H1$0"$%(

)-8#"0"-#(_()-5190$0"-#(2AGD(AKLLZD(U^²GLZ( ( GX:( (?-%='( Y:'( *989"2$'( J:I( ?;.( %.3.%/( -7( <-#<.109$%(

"#0.2-1.2$6"%"0&( 5-,.%:( >#I( P2-<..,"#8/( -7( 0;.(

KLLX(!$%%(H"59%$0"-#(>#0.2-1.2$6"%"0&(E-2=/;-1'(

)"0./..2(AKLLXD(LLW( (

GZ:( (O-62.3'( P:'( M$%$&,`".3'( +:'( Y#8.%-3$'( C:I( !2-5(

)-#<.109$%( H029<092./( 0-( H.5$#0"<( >#0.2R -1.2$6"%"0&( -7( )-#0.#0:( )-#<.109$%( H029<092./I(

M#-4%.,8.(Y2<;"0.<092./(7-2(H5$20(Y11%"<$0"-#/(

AKLLWD(G^K²KLV( (

GV:( (*<C9"##.//'(O:'(O"#8'(F:'(P"#;."2-(,$(H"%3$'(P:'(

);$#8'( ):I( P5%( KI( Y( 5-,9%$2( .@1%$#$0"-#(

"#0.2%"#89$:(>#I(P2-<..,"#8/(-7(YYY>:(T-%95.(W:(

AKLLWD( (

GU:( (S,8$2'( Q:'( O-52$<;.3'( *:'( F$/;'( Y:I( C.#.(

S@12.//"-#(+5#"69/I(\)B>(8.#.(.@12.//"-#($#,(

;&62","N$0"-#( $22$&( ,$0$( 2.1-/"0-2&:( \9<%."<(

$<",/(2./.$2<;(34AGD(AKLLKD(KLW( (

GW:( (B2$N5$'( Y:'( P$2="#/-#'( [:'( H$2=$#/'( a:'(

H;-`$0$%$6'( *:'( T"%-'( J:'( Y6.&89#$4$2,.#$'( \:'(

[-%%-4$&'( S:'( M$19/;./=&'( *:'( M.55.2.#'( P:'(

F$2$'(C:'(.0($%:I(Y22$&S@12.//$(196%"<(2.1-/"0-2&(

7-2(5"<2-$22$&(8.#.(.@12.//"-#(,$0$($0(0;.(SB>:(

\9<%."<(Y<",/(Q./.$2<;(3/AGD(AKLLXD(U]( (

G]:( (B"$#'( b:'( M%.55'( J:'( B$/9'( Y:'( [$,7".%,'( J:'(

H2"#"3$/$'(Q:'(P$2#.%%'(?:'(*"%%.2'(H:'(*$/-#'(E:'(

M-=-0-3'(O:'(O9#<$#'(*:'(.0($%:I(O$0$(/965"//"-#(

$#,( <92$0"-#( 7-2( <$Y22$&'( $( /0$#,$2,( 6$/.,(

5"<2-$22$&(,$0$(2.1-/"0-2&(/&/0.5:(AKLL^D( ( G^:( (H1.%%5$#'(P:'(*"%%.2'(*:'(H0.4$20'(J:'(?2-91'():'(

H$2=$#/'( a:'( );.23"0N'( H:'( B.2#R;$20'( O:'(

H;.2%-<='(C:'(B$%%'():'(F.1$8.'(*:'(.0($%:I(O./"8#(

$#,( "51%.5.#0$0"-#( -7( 5"<2-$22$&( 8.#.(

.@12.//"-#( 5$2=91( %$#89$8.( A*YCSR*FD:(

!"#$%"&'($)$*+&,-./&-0110/& &

012& &34*567& 827& 9566"::7& ;2<& =>'(& *"$& ?:5#4564?& 5#4&

?"6@(>"?& A$6& %(>6$5665+& 45:52& =5:B6"&

'($:">C#$)$*+&!"-D0/&-011E/&DFGD& &

0D2& &H>IB?J"67&K2L27&H>!B(##"??7&M2N2<&3OP)$65:($#?&

(#:$& :C"& L6$@"#5#>"& $A& Q(*C& ;C6$B*CPB:& 9($R

%"4(>5)& 3OP"6(%"#:?2& L6$@"#5#>"& 5#4&

S##$:5:($#& $A& M5:5& 5#4& L6$>"??"?& -01D1/&

D01²D0T& &

002& &8B::"#'"6*7& S27& U%(:C7& 927& I"B?:"6?7& V2<& ;C"&

W#A$6%5:($#&S6:(A5>:&X#:$)$*+&-011T/& &

0,2& &H()"?7&S27&9">CC$A"67&U2<&UYXU&?(%P)"&J#$Z)"4*"&

$6*5#([5:($#&?+?:"%&6"A"6"#>"2&-011T/& &

0F2& &\$#& 3?>C"#'5>C7& S27& 9B":$Z7& Y2<& I5#>"6&

W#A$6%5:(>?&\(?($#<&>59W!2&I5#>"6&(#A$6%5:(>?&!&

-011E/&00& &

0]2& H>IB?J"67& K2L27& LC())(P?7& K27& 9"):6^#7& S27&

_(#J")?:"(#7& S27& Y65B:C5%%"67& H2<& U"%5#:(>&

Z"'& 45:5& Z56"C$B?(#*& A$6& >5!6(42& 9HI&

'($(#A$6%5:(>?&#$-UBPP)&D1/&-011./&U0& &

0E2& &!$#[5)"[R9"):65#7& S2<& X#:$)$*+R'5?"4& `B"6("?&

$@"6&I5#>"6&M5:52&-01D1/& &

0G2& &3A6$#7&92<&N$*(?:(>&6"*6"??($#7&?B6@(@5)&5#5)+?(?7&

5#4& :C"& Y5P)5#RH"("6& >B6@"2& K$B6#5)& $A& :C"&

S%"6(>5#& U:5:(?:(>5)& S??$>(5:($#&%&-F10/&-D.TT/&

FDF²F0]& &

0T2& &_6(4?%57&M27&3@5#?7&K27&Q5?:5J7&U27&H"547&I2<&;C"&

98WM!&P6$a">:<&5&:">C#(>5)&6"P$6:2&K$B6#5)&$A&:C"&

S%"6(>5#&H"4(>5)&W#A$6%5:(>?&S??$>(5:($#&#'-0/&

-011T/&D,1²D,G& &

0.2& &8B'(#7&M27&H$#*J$)Z5:7&L27&Y)"P"67&\27&UBP"J567&

Y27&IC5##(#7&M2<&S##$:5:($#&5#4&(%5*"&%56JBP<&

S>>"??(#*&5#4&(#:"6$P"65:(#*&Z(:C&:C"&?"%5#:(>&

>$#:"#:&(#&%"4(>5)&(%5*(#*2&W#:"))(*"#:&U+?:"%?7&

W333&!"-D/&-011./&]G²E]& &

,12& &!65B7& 927& Q$66$>J?7& W27& H$:(J7& 927& L56?(57& 927&

L5:")RU>C#"(4"67&L27&U5::)"67&b2<&XVN&0<&;C"&#"O:&

?:"P&A$6&XVN2&V"'&U"%5#:(>?<&U>("#>"7&U"6@(>"?&

5#4&S*"#:?&$#&:C"&V$6)4&V(4"&V"'&(-F/&-011T/&

,1.²,00& &

,D2& &8(>C564?$#7&N27&8B'+7&U2<&83U;AB)&Z"'&?"6@(>"?2&

2·5HLOO\0HGLD,QF&

,02& &U($B:$?7&=27&I$6$#54$7&U27&Q5'"67&H27&Q56:")7&_27&

UC5(B7& V27& V6(*C:7& N2<& =IW& ;C"?5B6B?<& 5&

?"%5#:(>& %$4")& (#:"*65:(#*& >5#>"6R6")5:"4&

>)(#(>5)& 5#4& %$)">B)56& (#A$6%5:($#2& K$B6#5)& $A&

'($%"4(>5)&(#A$6%5:(>?&"$-D/&-011G/&,1²F,& &

,,2& &U>CB)[7&U27&U>C$'"67&M27&;B4$?"7&W27&U:"#[C$6#7&Q2<&

;C"& L(:A5))?& $A& ;C"?5B6B?& X#:$)$*([5:($#²:C"&

I5?"& $A& :C"& =IW& ;C"?5B6B?2& W#<& SHWS& S##B5)&

U+%P$?(B%& L6$>""4(#*?2& \$)B%"& 01D127&

S%"6(>5#& H"4(>5)& W#A$6%5:(>?& S??$>(5:($#&

-01D1/&G0G& &

,F2& &Q"??"7&927&H$?"67&827&8B::"#7&N27&Y6"P?7&!2<&;C"&

C"5):C& (#A$6%5:($#& #5:($#5)& :6"#4?& ?B6@"+<&

6"?"56>C& A6$%& :C"& '5?")(#"2& K$B6#5)& $A& Q"5):C&

I$%%B#(>5:($#&##&-011E/&G²DE& &

,]2& &V56[")7& M27& S#4$#+54(?7& I27& H>IB66+7& 927&

IC()BJB6(7& 827& W?C%BJC5%"4$@7& U27& I$@(:[7& L2<&

I$%%$#&45:5&")"%"#:&-IM3/&%5#5*"%"#:&5#4&

4"P)$+%"#:&(#&>)(#(>5)&:6(5)?7&S%"6(>5#&H"4(>5)&

W#A$6%5:(>?&S??$>(5:($#&-011,/& &

,E2& &YB#[7& W27& N(#7& H27& _6"+7& N2<& H":545:5& %5PP(#*&

5#4& 6"B?"& (#& >59W!2& 9HI& '($(#A$6%5:(>?&

#$-UBPP)&0/&-011./&UF& &

,G2& &MB%$#:("67& H27& S#4"6??$#7& 927& 95:>C")$67& I27&

M"##"+7& I27& M$%56"Z7& I2<& ;C"& ;65#?)5:($#5)&

H"4(>(#"& X#:$)$*+<& M6(@(#*& P"6?$#5)(["4&

%"4(>(#"& '+& '6(4*(#*& :C"& *5P& A6$%& '"4?(4"& :$&

'"#>C2& W#<& L6$>""4(#*?& $A& :C"& D,:C& WUH901D1&

6,*0HHWLQJµ%LRRX#:$)$*("?2&-01D1/&D01²D0,& &

&