Anda di halaman 1dari 37



 
        
        
 
 
        



    
 

      


      
  


  


        
       
 
 
        





   


 





   

 

  






    
 

      


       
  


 

!<21:@<3<98-6<41:8)62);3)63-0),19);$<0)6')6/)0)<):)3)9-6)
*-93); 9)05);,)63)9<61) @):-016//)8-6<41:,)8);5-6@-4-:)13)6)9@)
$<41:451)0,-6/)62<,<4B#% !"&$ !$ #
  %""$ #  $"%
#$%%""  '"C
)4)58-6@<:<6)6)9@)$<41:451)01618-6<41:*)6@)35-6,)8);
*15*16/)6,)6,<3<6/)6,)91*-9*)/)1 810)374-03)9-6)1;<8),)3-:-58);)6161
8-6<41:5-6/<+)83)6;-915)3):10,)68-6/0)9/))6@)6/:-;16//1;16//16@)
3-8),)@)6/;-90795);


)8)3#-;1@)>)6#-8 ::-4)3<-;<)!97/9)5#;<,1-8-9)>);)6
:-3)41/<: ,7:-6 8-5*15*16/ ,)6 8-6/<21  @)6/ ;-4)0 5-5*-913)6
3-:-58);)6<6;<3,)8);5-615*)145<,1#;13-:<:<5)<:),)#<9)3)9;)

*< 9416) &16,@):;<;1 #-8 : :-4)3< #-39-;)91: -;<) !97/9)5 #;<,1
3-8-9)>);)6 @)6/;-4)05-5*-913)63-:-58);)6<6;<3,)8);5-615*)
145<,1#;13-:<:<5) <:),)#<9)3)9;)

*<

779 1;91@)61 #-8 : :-4)3< ,7:-6 8-6/<21  @)6/ ;-4)0

5-5*-913)6 :)9)6 391;13 :-9;) 5):<3)65):<3)6 @)6/ *-95)6.)); *)/1


8-6<41:,)6,-51:-58<96)6@):;<,13):<:161
 *<

<9<4 -=1 9,1)61 #-8 : :-4)3< ,7:-6 8-6/<21  @)6/ ;-4)0

5-5*-913)6 :)9)6 391;13 :-9;) 5):<3)65):<3)6 @)6/ *-95)6.)); *)/1


8-6<41:,)6,-51:-58<96)6@):;<,13):<:161

#-5<) ,7:-6 !97/9)5 #;<,1  -8-9)>);)6 #;13-: <:<5) <:),)


#<9)3)9;) @)6/;-4)05-5*-913)6*15*16/)6,-6/)6:)*)9,)6>)>):)66@)
:-9;)145<@)6/*-95)6.));



@)0 ,)6 <6,) ;-9+16;) @)6/ :-4)4< 5-62),1 16:819):1 ,)6 5-5*-913)6
3):10:)@)6/ :-5)6/);,)6,7A) <6;<3 :-/-9) 5-6@-4-:)13)68-6,1,13)6



-,<) 3)3)33< )91: ,)6 '7/) @)6/ :-4)4< 5-5*-91 ,<3<6/)6 ,)6
:-5)6/);<6;<3:-/-9)5-6@-4-:)13)6;</):)9@)$<41:451)0



#)0)*);:)0)*);3< 61;) -:;)91 $@): 6,91@);1 '<61;) &" 91


&1,@):;<;13)"(,)6-:;)915*)9>);1@)6/:-4)4< 5-5*-91,<3<6/)6
,)6:-5)6/);<6;<3:-/-9)5-6@-4-:)13)6;</):)9@)$<41:451)0



<); :-:-79)6/ @)6/ :8-:1)4 @)6/ ;-4)0 5-5*-91 :-5)6/); 57;1=):1 ,)6
,7976/)6<6;<35-6@-4-:)13)63)9@);<41:1451)0

 $-5)6;-5)6 )0):1:>) !97/9)5 #;<,1  -8-9)>);)6 #;13-: <:<5)


<:),) #<9)3)9;) ,)6 *-9*)/)1 810)3 @)6/ ;1,)3 ,)8); ,1:-*<;3)6 :);<
8-9:);<@)6/;-4)05-5*-913)6,<3<6/)657914,)6:8191;<)4
#-57/)4)879)6:;<,13):<:161*-95)6.));<6;<38-93-5*)6/)6145<
3-8-9)>);)6,)63-:-0);)6516

#<9)3)9;)  <61


!-6<41:

=1

 
)4)5)6
 %%EEEEEEEEEEEEEEEE
!" '$ $!$#EEEEEEEE
"!"#$%% EEEEEEEEEEEEEEE
"! #

EEEEEEEEEEEEEEE

$!  $" EEEEEEEEEEEEEEEEE


$"#EEEEEEEEEEEEEEEEEEEE
$"!" EEEEEEEEEEEEEEEE



11
111
1=
=
=11
1?



 );)9-4)3)6/ EEEEEEEEEEEE
 $<2<)6!-6<41:)6 EEEEEEEEEEE
 )6.));!-6<41:)6 EEEEEEEEEEE



 
 ,-6;1;):!):1-6 EEEEEEEEEEEE
 !-6/3)21)6 EEEEEEEEEEEEEE
 ).;)9!-9<5<:)6):)4)0 EEEEEEEE
 !-9-6+)6))6-8-9)>);)6 EEEEEEEE
 584-5-6;):1-8-9)>);)6 EEEEEEEE
 =)4<):1-8-9)>);)6 EEEEEEEEEE

=11










  
 !-5*)0):)6 EEEEEEEEEEEEEEEE

 #158<4)6 ,)6#)9)6EEEEEEEEEEEE

).;)9!<:;)3)
)5819)6
).;)9"1>)@);1,<8

=111

 

)5819)6

-5*)976:<4;):1)9@)$<41:451)0

)5819)6

#<9);-;-9)6/)6#-4-:)1!-6/)5*14)6);)

)5819)6

7/773-/1);)6)91)6

)5819)6

-5*)9!-6,-4-/):1)6!):1-6

)5819)6

:<0)6-8-9)>);)6

)5819)6).;)9"1>)@);1,<8

1?


 



 
%(%2 /)7),%8%2 (92-% $ 8%,92

 7)'%6% +03&%0 09/% &%/%6
8)61%79/ (%0%1 4)6-2+/%8 /)  4)2<)&%& 98%1% /)1%8-%2 8)6.%(- 4%(% %2%/
%2%/(%2();%7%19(%<%2+&)697-% 
8%,922+/%1368%0-8%7%/-&%886%91%
09/% &%/%6 7)/-8%6   .-;% 4)6 8%,92 )6(%7%6/%2 (%8% 92-8 09/% &%/%6
91%, !%/-8 -483 %2+92/97913  ! 4%7-)2 ()2+%2 09/% &%/%6 %/98
<%2+(-69.9/4%(%8%,92
 7)&%2<%/ 36%2+4%7-)2%6- 36%2+4%7-)2

 36%2+ 4%7-)2   1)2-2++%0 (%2


 36%2+ 4%7-)2 
 (%4%8
(-7)0%1%8/%2962%1% 96-%890$-;-/
 
9/%&%/%6%(%0%,79%89&)289//)697%/%2%8%9/),-0%2+%2.%6-2+%2 <%2+
(-7)&%&/%2 /328%/ ()2+%2 791&)6 4%2%7 7)4)68- %4- %-6 4%2%7 &%,%2 /-1-%
0-786-/ (%2 6%(-%7- 3)2%(.%8
  -()6% 09/% &%/%6 1)1-0-/- &)6%+%1
4)2<)&%& (%2 &)6438)27- 1)2<)&%&/%2 /)1%8-%2 %8%9 '-()6% <%2+ &)6(%14%/
7)9196,-(944%(%4%7-)2 <%2+1)2+%0%1-'-()6%09/%&%/%6 <%-8909/% &%/%6
<%2+ (-7)&%&/%2 30), %-6 4%2%7 09/% &%/%6 /%6)2% %4- 92++92 %8%9 63/3/
6%(-%7- 0-786-/ =%8 /-1-% 4).%2%2 +%7 4%2%7 0)(%/%2 %8%9 8)68%,%2 (- 69%2+%2
<%2+(-4)29,-%7%4 988%5-2(%2!%6-
 
9/% &%/%6 1)694%/%2 09/% <%2+ 92-/ (- %28%6% &)289/&)289/ 09/%
0%-22<%/%6)2%09/%8)67)&981)0-498-7).910%, &)7%6 .%6-2+%21%8-)7/%6<%2+
8)8%4&)6%(%4%(%8)14%82<%9289/.%2+/% ;%/89<%2+0%1% 988%5-2(%2!%6-

  9/% &%/%6 1)694%/%2 6)7432 /90-8 (%2 .%6-2+%2 79&/98%2 8)6,%(%4


86%91%79,9%8%9 8)61%0 9/%&%/%6()2+%2/)8)&%0%24%67-%01)694%/%209/%
&%/%6 <%2+ 8-(%/ 1)697%/ )4-8)0 /90-8 1%9492 ,%2<% 1)697%/ 7)&%+-%2 (%6)4-8)0 -%7%2<%(%4%8490-,()2+%24)2%2+%2%2/327)6:%8-*9/%&%/%6()2+%2
/)8)&%0%2 4)29, 1)697%/ 7)19% 791&)6791&)6 4)6891&9,%2 /)1&%0- )4-8)0
/90-8(%2&-%7%2<% 1)1&989,/%2)/7-7- (%2'%2+/3//90-8.-/%09%7 6%') (%2
360)<

9/%&%/%6(-&)(%/%2%8%7&)&)6%4%.)2-7<%-8909/%&%/%6()6%.%809/%
&%/%6 ()6%.%8  (%2 09/% &%/%6 ()6%.%8  9/% &%/%6 ()6%.%8  (-&)(%/%2
1)2.%(-(9%<%-8909/%&%/%6()6%.%8(%2+/%0%8%9  
  (%2 09/%&%/%6
()6%.%8  (%0%1 %8%9   9/% &%/%6 ()6%.%8  %/%2 1)2+%0%1- /)697%/%2
4%(% )4-()61-7 (%2 7)&%+-%2 ()61-7 <%2+ &)694% 6)%/7--2*0%1%7- %/98(-7)68%4637)7 )/79(%7- (%7%6 09/% &)6;%62% 1)6%, %8%9 49'%8 7)6-2+ 8)60)8%/ 0)&-,
8-2++- (- %8%7 4)619/%%2 /90-8 2361%0 (-.914%- %(%2<% &90% (%2 %/%2
1)2+%0%1- /)8-(%/2<%1%2%2 7)4)68- 2<)6- /%6)2% 9.92+9.92+ 7<%6%* 7)2736-/
8)6-6-8%7- 3)2%(.%8
  %2-*)78%7- /0-2-7 <%2+ 8)6.%(- 4%(% 09/% &%/%6
7)'%6% 9191 1)0-498- 2<)6- 4)1&)2+/%/%2 (%2 0)49,%2 7)(%2+/%2 7)'%6%
/,97971)0-498-&9/8-%(%2<%-2,%0%7-%7%409/%&%/%64%(%1%8%%8%9%0-71%8%
09/%&%/%67-6/91*)6)27-%06%')(%2360)<

<)6-%(%0%,4)6%7%%2<%2+8-(%/2<%1%2<%2+7%2+%879&<)/8-*(%2,%2<%
36%2+ <%2+1)2+%0%1-2<% <%2+(%4%81)2.)0%7/%2(%2 1)2+):%09%7-4)6%7%%2
8)67)&98 32+  (%0%19&%6%/(%2,%<%8-2

 !)'%6%9191

2<)6- (%4%8 (-()*-2-7-/%2 7)&%+%- 4)6%7%%2 8-(%/ 2<%1%2 &%-/ 6-2+%2 1%9492
&)6%8 6-,%6.3 
(%0%19&%6%/(%2,%<%8-2

 
<)6- %/98 %(%0%, 4)2+%0%1%2 7)2736- (%2 )137-32%0 <%2+ 8-(%/
1)2<)2%2+/%2 <%2+ 192'90 %/-&%8 /)697%/%2 .%6-2+%2 <%2+ %/89%0 %8%9
438)27-%0%8%9(-+%1&%6/%2(%0%1,%0/)697%/%27)()1-/-%2694%   
  
    
   %;-8%2 <%2+ 8-&%8-&% %8%9 0%1&%8 (%6-28)27-8%7 6-2+%2 ,-2++% &)6%8 ()2+%2 %/,-6 <%2+ (%4%8 (-%28-7-4%7- %8%9
(-46)(-/7- (%2 &)60%2+792+ /96%2+ (%6-  &90%2 )6(1%2
  9/% &%/%6
()6%.%8  %/%2 1)2+)2%- 7)&%+-%2 (%6- /)8)&%0%2 /90-8 <%2+ 1)0-&%8/%2 7)19%
)4-()61-7 (%2 7)&%+-%2 ()61-7 %(% /90-8 %/%2 %(% &90% 7)(-/-8 3)()1 (%2
2<)6-&)6%8);-
 
&6%,%1%703;1)2+)1&%2+/%28)36-8)28%2+/)&989,%2(%7%61%297-%
<%2+ 8)0%, (-/)2%0 ()2+%2 -78-0%, -)6%6/- )&989,%2 %7%6 %297-% %703;
-)6%6/- 8)67)&98 1)0-498- 0-1% /%8)+36- /)&989,%2 (%7%6 <%/2- /)&989,%2
*-7-303+-7/)&989,%2/)7)0%1%8%2(%26%7%%1%2/)&989,%26%7%'-28%1)1-0-/(%2 (-1-0-/- /)&989,%2 ,%6+% (-6- (%2 /)&989,%2 %/89%0-7%7- (-6- #1912<%
7)7)36%2+ <%2+ 1)1-0-/- &)&)6%4% /)&989,%2 <%2+ &)091 8)64)29,- %/%2
0)&-, (909 1)1)29,- /)&989,%2 *-7-303+-72<% (-&%2(-2+/%2 /)&989,%2 <%2+
0%-2 <)6- 1)694%/%2 7%0%, 7%89 /)&989,%2 *-7-303+-7 <%2+ 1)1-0-/46-36-8%7 8)68-2++- (%0%1 ,-)6%6/- %703; (%2 ,%697 7)+)6% (-8%2+%2- %4%&-0%
8-(%/7)+)6%(-8%2+%2-(%4%81)2-1&90/%21%7%0%,/)4)6%;%8%20%-22<%7)4)68+%2++9%2 430% 8-(96 +%2++9%2 13&-0-8%7 *-7-/ (%2 1%7%0%, 4)6%;%8%2 (-6-
9&%6%/(%2,%<%8-2


%(%3&7)6:%7-<%2+(-0%/9/%24)290-77)0%1%46%/8-//0-2-//)4)6%;%8%2
1)2.914%- "2 ! ()2+%2 09/% &%/%6 ()6%.%8  ()2+%2 /)09,%2 2<)6- (%2
(-(9/92+ ()2+%2 (%8% 79&<)/8-* "2 ! 1)2+)09, 2<)6- (-&%+-%2 8%2+%2 (%2
492++92+ ()2+%2 7/%0%  <)6- 1)2-1&90/%2 6)%/7- *-7-/ (%2 4)6-0%/9 <%2+
%4%&-0%8-(%/(-,)28-/%24%(% 8%,%4<%2+8)4%8(%2'9/94(-2-%/%21)2<)&%&/%2
7-2(631 2<)6- /632-/ !)1%/-2 0%1% 6)%/7- (%2 6)7432 (-&-%6/%2 &)60%2+792+
8%24% (-%8%7- 7)1%/-2 &)7%6 /)192+/-2%2 8)6.%(-2<% 7-/097 >0-2+/%6%2 7)8%2?
2<)6-7),-2++%7)1%/-2 790-8(-%8%7-6-')(%2$-0732

)6(%7%6/%2 0%8%6 &)0%/%2+ (- %8%7 1%/% 4)290-7 8)68%6-/ 9289/
1)0%/7%2%/%2 %79,%2 /)4)6%;%8%2 <%2+ %/%2 (-89%2+/%2 (%0%1 %6<% "90-7
01-%,<%2+&)6.9(90 >79,%2)4)6%;%8%2<)6-/98 4%(%"2!()2+%29/%
%/%6)6%.%8 (- 9%2+%28-0 !#%6%2+%2<%6?

  
 "9.9%2#191
)0%436/%2 /%797 2<)6- 4%(% "2 ! ()2+%2 09/% &%/%6 ()6%.%8  (- 69%2+
%28-0 !#%6%2+%2<%6

 "9.9%2,9797
% )290-7 1%149 1)0%/9/%2 4)2+/%.-%2 4%(% "2 ! ()2+%2 2<)6- 09/%
&%/%6 ()6%.%8 
& )290-71%1491)69197/%2(-%+237%/)4)6%;%8%24%(% "2 !()2+%2
2<)6-09/%&%/%6()6%.%8 

' )290-7 1%149 1)2<9792 6)2'%2% /)4)6%;%8%2 4%(% "2 ! ()2+%2


2<)6-09/%&%/%6()6%.%8 
( )290-71%1491)0%/9/%2-140)1)28%7-4%(%"2 !()2+%22<)6-09/%
&%/%6()6%.%8 
) )290-71%1491)0%/9/%2):%09%7-4%(%"2 !()2+%22<)6-09/%&%/%6
()6%.%8 
* )290-7 1%149 1)2+%2%0-7% /32(-7- 2<)6- <%2+ 8)6.%(- 4%(% "2 !
()2+%22<)6-09/%&%/%6()6%.%8 

  
 %+-)290-7
)2%1&%, ;%;%7%2 (%2 7)&%+%- 7%6%2% 9289/ 1)2)6%4/%2 -019 (%0%1
&-(%2+/)4)6%;%8%28)8%2+/)&989,%2(%7%61%297-%()2+%22<)6-%/98

 %+-278-897-)2(-(-/%2
%7-0 0%436%2 (-,%6%4/%2 (%4%8 1)2%1&%, 0-8)6%896 4)64978%/%%2 (%0%1
&-(%2+/)&989,%2(%7%61%297-%()2+%22<)6-%/98
 %+- 91%,!%/-8
!# %6%2+%2<%6 (%4%8 1)1%2*%%8/%2 ,%7-0 0%436%2 (%0%1 &-(%2+
/)&989,%2(%7%61%297-%()2+%2 2<)6-%/984%(%09/%&%/%6()6%.%8 (%2
9289/ 1)2(9/92+ ):%09%7- <%2+ (-4)609/%2 (%0%1 4)0%/7%2%%2 46%/8)/
4)0%<%2%2 /)4)6%;%8%2 /,97972<% (%0%1 &-(%2+ /)&989,%2 (%7%6 1%297-%
()2+%22<)6-%/9809/%&%/%6 ()6%.%8 


 


+, 383 7/84/6+<5+8 =/8=+81 <>2+8 /:/;+@+=+8 8B/;3 +5>= :+.+ '8 &
./81+86>5+,+5+;./;+4+=  B+81.36+5<+8+5+8:+.+=+811+6 :;36
<+7:+3
 :;36
 <>2+8 5/:/;+@+=+8 383 .37>6+3 .+;3 :/815+43+8 .3+189<+
5/:/;+@+=+8

+=+> ;>7><+8 7+<+6+2 5/:/;+@+=+8 38=/;?/8<3 5/:/;+@+=+8

37:6/7/8=+<3.+8/?+6>+<35/:/;+@+=+8

 ##""
#/815+43+8 :+.+ =+811+6  :;36
 4+7
  * .3.+:+= 2+<36
3./8=3=+< :+<3/8 ,+2@+ :+<3/8 ,/;8+7+ '8 & >7>;  =+2>8 +1+7+ <6+7
:/8.3.35+8 =/;+523; & ,/5/;4+ </,+1+3 :/=+83 +6+7+= +;+81+8B+;
#/8+811>814+@+,'8 &+.+6+2!B>7>; =+2>8 +6+7+= +;+81+8B+; .+8
2>,>81+8./81+8:+<3/8+.+6+2 </,+1+3 3<=;3

 
#/815+43+8 =+811+6  :;36
 4+7
  * :+.+ 5+<>< 383
.3:/;96/2 ./81+8 -+;+ 

.+8

  7/81+.+5+8

:/81+7+=+8+=+>9,</;?+<36+81<>81:/7/;35<++803<357/8/6++2-+=+=+87/.3<
.+8 -+=+=+8 :/;+@+= +=+ :/815+43+8 =/;</,>= .3.+:+=5+8 2+<36 5/6>2+8 >=+7+
B+81.3;+<+5+8:+<3/8<++= .35+43+.+6+2:+<3/8 7/;+<+5+88B/;3 :+8+<:+.+

6>5+8B+%3@+B+=5/</2+=+8</5+;+81:+<3/8 7/81+=+5+8 </=/81+24+7</,/6>7


7+<>5;>7+2<+53= :+<3/8 =/;<3;+7+3;7/8.3.32 .+87/81+6+736>5+,+5+;:+.+
:>811>81.+8=+81+88B+ 5/7>.3+8:+<3/8 .3,+@+5/6>+;1+8B+5/%&(
+;+81+8B+; :+.+=+811+6
:;36
.95=/;7/8.3+189<+:+<3/8 7/8./;3=+
6>5+ ,+5+; ./;+4+=  5/7>.3+8 :+<3/8 .3;+@+= .3 +81<+6 +8=36 %&(
+;+81+8B+;
#/815+43+8;3@+B+=5/</2+=+8.+2>6>.3.+:+=5+82+<36,+2@+:+<3/8 =3.+5
7/7:>8B+3 ;3@+B+= :/8B+53= +:+:>8 +6+7 ;3@+B+= 5/</2+=+8 5/6>+;1+
5/6>+;1+=3.+57/7:>8B+3;3@+B+= :/8B+53=B+81<+7+./81+8:+<3/8 .+8=3.+5
+.+;3@+B+=:/8B+53=B+816+38</:/;=3+<7+4+8=>813+,/=/< /663=><.+86+38
6+38
#+.+ :/815+43+8 :96+ +5=3?3=+< .+8 6+=32+8 </,/6>7 <+53= :+<3/8
7/81+=+5+8 .+:+= 7/6+5>5+8 +5=3?3=+< </:/;=3 7+5+8 +=+> 738>7 =936/=381
,/;:+5+3+8 79,363=+< .3 =/7:+= =3.>; ,/;:38.+2 +7,>6+<3 </-+;+ 7+8.3;3
&/.+815+8 </6+7+ <+53= +5=3?3=+< </:/;=3 7+5+8 +=+> 738>7 =936/=381
,/;:+5+3+8.+8,/;:38.+2 .3,+8=> 96/2 5/6>+;1+./81+8<59; 
#96+ 59183=30 :/;</:=>+6 </,/6>7 <+53= :+<3/8 7/81+=+5+8 =3.+5
7/81+6+73 1+811>+8 :/8138./;++8 </:/;=3 +6+= :/8./81+;+8 :/81632+=+8 .+8
:/8-3>7+8,/;0>81<3./81+8,+35 &/6+7+<+53= :+<3/8 7/81+=+5+87/81+6+73
1+811>+8 8B/;3 :+.+=+81+8.+8:>811>818B+</23811+=3.+5,/;0>81<3./81+8
,+35 </:/;=3 ,3+<+8B+ #+<3/8 4>1+ 7/81+=+5+8 =3.+5 7/81+6+73 1+811>+8
:/8138./;++8 </:/;=3 +6+= :/8./81+;+8 :/81632+=+8 .+8 :/8-3>7+8 ,/;0>81<3
./81+8 ,+35 +;+5=/;3<=35 8B/;3 B+81 .3;+<+5+8 +.+6+2 </,+1+3 ,/;35>=


  8B/;3 :+8+< 5+;/8+ 6>5+ ,+5+;   8B/;3 =/;+<+
</:/;=3=/;</81+= +:3    8B/;3 =/;+<+ :+.+ :>811>81 .+8 =+81+8 
 
<5+6+8B/;3  8B/;3 =/;><7/8/;><
#96+ 3<=3;+2+= =3.>; </,/6>7 <+53= :+<3/8 7/81+=+5+8 </=3+: 2+;3 =3.>;
</6+7+4+7:/;2+;3.+84+;+81=3.>;<3+81 5+;/8+2+;><,/5/;4+ &/.+815+8
</6+7+ <+53= :+<3/8 7/81+=+5+8 </6+7+ .3 ;>7+2 <+53= ,3<+ =3.>;  4+7 :/;
2+;3.+8=/;5+.+81=3.>;<3+81
+6+7 :/815+43+8 52><><8B+ :/7/;35<++8 03<35 .3.+:+=5+8 .+=+ ,+2@+
5/+.++8>7>7:+<3/8 =+7:+56/7+25/<+.+;+8
 3.+:+=5+8.+=+
:/81>5>;+8 =/5+8+8 .+;+2
 
 771 0;/5>/8<3 8+.3  5+63 :/; 7/83=
0;/5>/8<3 :/;8+:+<+8 5+63:/;7/83=<>2>   5<=;/73=+<+=+<=+7:+5
=/;:+<+81380><% =:7:+.+=+81+85+8+8 =/;.+:+=6>5+,+5+;:+.+=+81+8
</,/6+2 5+8+8 ./81+8 6>+<  .+8  :+.+ =+81+8 </,/6+2 53;3 ,/;@+;8+
5/7/;+2+8=3.+5=/;.+:+=:><=3.+5+.+,>6+ =3.+5+.+:/;>,+2+8,/8=>5 =>6+81
.+8 +5;+6 =/;+,+ 2+81+= #+.+ :>811>81 =/;.+:+= 6>5+ ,+5+; ./81+8 6>+<


,/;@+;8+ 5/7/;+2+8 =3.+5 =/;.+:+= :>< .+8 =3.+5 +.+ ,>6+#/7/;35<++8 5>63=
=>;19; 5>63= /6+<=3< @+;8+ 5>63= <+@9 7+=+81 5>63= 7/81/6>:+< .3</53=+; 6>5+
,+5+;
#+.+ :/7/;35<++8 :/8>84+81 .36+5>5+8 :/7/;35<++8 6+,9;+=9;3>7
.+;+2:+.+ =+811+6
 :;36
./81+8 2+<36 B+3=> *
 A

 836+3
89;7+6  E

  A



)    0 836+3 89;7+6    0 37:29<B=

 836+389;7+6 E  %*  0836+389;7+6


 0

'/;+:3B+81.3,/;35+85/:+.+'8&</6+7+.3;>7+2<+53=B+3=> 380></%
=:7 =/;+:37/6+6>3)B+3=> 384/5<3 -/09=+A37/
1;:/;
4+7 .+8 ;+83=3.38/
 71:/;  4+7 :;98+61/<
71:/;4+7 7/6+6>3<>:9<3=9;3+ 9,+==9:35+6
,>;8+C38 71 :/;
4+7

 #!!$$" "
/;.+<+;5+8 2+<36:/815+43+8:/8>63<7/6+5>5+8+8+63<+.+=+./81+8 .+=+
095>< B+3=> .+=+ <>,B/5=30 B+81 .3.+:+=5+8 +.+6+2 :+<3/8 7/81+=+5+8 8B/;3
:+8+< :+.+ 6>5+ ,+5+; 8B/;3 =/;+<+ </:/;=3 =/;</81+= +:3 8B/;3 =/;+<+ .3
:>811>81 .+8 =+81+8 <5+6+ 8B/;3  8B/;3 =/;>< 7/8/;>< .+=+ 9,B/5=30 :+<3/8
=+7:+5 7/;3813< 7/8+2+8 <+53= 2+<36 :/81>5>;+8 =/5+8+8 .+;+2
 

7710;/5>/8<38+.3 5+63:/;7/83=0;/5>/8<3:/;8+0+<+8  5+63:/;7/83=
<>2>   :+.+ =+81+8 </,/6+2 5+8+8 =/;.+:+= 6>5+ ,+5+; ./81+8 6>+< 
.+8 :+.+=+81+8</,/6+253;3,/;@+;8+5/7/;+2+8 =3.+5=/;.+:+=:><=3.+5
+.+ ,>6+ :+.+ :>811>81 =/;.+:+= 6>5+ ,+5+; ./81+8 6>+<

 ,/;@+;8+
5/7/;+2+8 =3.+5 =/;.+:+= :>< .+8 =3.+5 +.+ ,>6+ +<+6+2 5/:/;+@+=+8 >=+7+
:+.+ '8 & +.+6+2 8B/;3 +5>= &/23811+ :/8>63< 7/81+815+= :;39;3=+< .3+189<+
5/:/;+@+=+8 B+3=>8B/;3+5>=,/;2>,>81+8./81+8+1/8-3./;+03<356>5+,+5+;

 !
#;39;3=+< .3+189<+ 5/:/;+@+=+8 8B/;3 +5>= ,/;2>,>81+8 ./81+8 +1/8
-3./;+ 03<35 6>5+ ,+5+; :+.+ '8 & :/8>63< +5+8 7/7,+2+< ;/8-+8+
5/:/;+@+=+8./81+8=>4>+8</=/6+2.36+5>5+8=38.+5+85/:/;+@+=+8</6+7+ A

4+7.32+;+:5+88B/;3.+:+=,/;5>;+81+=+>236+81./81+85;3=/;3+2+<36<5+6+
8B/;3 
 =+8.+=+8.+?3=+6.+6+7,+=+<89;7+6 '
  0;/5>/8<38+.3 
  5+63 :/; 7/83= 0;/5>/8<3 :/;8+0+<+8
  5+63 :/; 7/83= <>2> D
D /5<:;/<3@+4+2 =+7:+5;36/5<=3.+57/;3813<7/8+2+8<+53=
8=/;?/8<3 +=+> ;/8-+8+ =38.+5+8 B+81 +5+8 .36+5>5+8 B+3=> 5+43 >6+81
5+;+5=/;3<=35 8B/;3 :/8B/,+, 8B/;3 5>+63=+< 8B/;3 =/7:+= +=+> ,+13+8 B+81
.3;+<+5+8 8B/;3 <5+6+ 8B/;3 @+5=> =/;4+.38B+ 8B/;3 ;+<398+68B+ >8=>5
7/7,+8=> 7/81/?+6>+<3 ./;+4+= 5/=3.+58B+7+8+8 .+8 5//0/5=30+8 +8+61/<35
+4+;5+8 =/5835 ;/6+5<+<3 </:/;=3 8+0+< .+6+7 ;+<398+68B+ >8=>5 7/8>;>85+8
<=37>6>< 38=/;8+ .+8 7/7,+8=> 7/81>;+813 ;+<+ 8B/;3 ,/;35+8 :9<3<3 B+81
8B+7+8 B+3=> 73;381 ;+<398+68B+ >8=>5 7/81>;+813 =/1+81+8 :+.+ 6>5+ .+8
7/7,+8=> 7/81>;+813 8B/;3 5+43 =+8.+=+8.+ ?3=+6 =/5+8+8 .+;+2 0;/5>/8<3
8+.3 0;/5>/8<3 :/;8+0+<+8 <>2> ;+<398+68B+ >8=>5 7/7+8=+> :/;5/7,+81+8
:+<3/8596+,9;+<3./81+8.95=/;.+6+7:/7,/;3+8 +8+61/<35;+<398+68B+>8=>5
7/81>;+813+=+>7/81+=+<38B/;3 .+86>5+,+5+;

  #"
'38.+5+8B+81.36+5>5+8:+.+2+;3&/838 :;36
B+3=>4+7

 
* 7/819,</;?+<3 5/+.++8 >7>7 .+8 7/6+5>5+8 :/81>5>;+8 =+8.+=+8.+
?3=+6 ;/<:98 <>,B/5=30 :+<3/8 7/81+=+5+8 6/7+< .+8 ,/;</.3+ .36+5>5+8
:/81>5>;+8=+8.+=+8.+?3=+6;/<:989,B/5=30=/5+8+8 .+;+2
 
771
0;/5>/8<3 8+.3   5+63 :/; 7/83= 0;/5>/8<3 :/;8+0+<+8   5+63 :/; 7/83=
<>2>    #+.+ 4+7

  * 7/815+43 5+;+5=/;3<=35 8B/;3 ;/<:98

<>,B/5=30:+<3/8 7/81+=+5+87/;+<+8B/;3:+8+<:+.+6>5+,+5+; 


 
8B/;3 :+8+< 5+;/8+ 6>5+ ,+5+;   8B/;3 =/;+<+ </:/;=3 =/;</81+= +:3
  8B/;3=/;+<+:+.+ :>811>81.+8=+81+8 
 <5+6+8B/;3  
8B/;3 =/;>< 7/8/;>< ;/<:98 9,B/5=30 /5<:;/<3 @+4+2 :+<3/8 =+7:+5 7/;3813<
7/8+2+8<+53=
+7

 * 7/81+4+;5+8 =/2835 ;/6+5<+<3 8+0+< .+6+7 .+8


7/81+84>;5+8>8=>57/81>6+8138B+<++=8B/;35+7,>2;/<:98<>,B/5=30:+<3/8
7/81+=+5+8 7/81/;=3 ./81+8 +:+ B+81 .3+4+;5+8 ;/<:98 9,B/5=30 563/8 ,3<+
7/7:;+5=/55+8 =/2835 ;/6+5<+<3 8+0+< .+6+7 </:/;=3 B+81 .3+4+;5+8 #+.+ 4+7

 * 7/7,/;35+8 :9<3<3 B+81 8B+7+8 B+3=> 73;381 ;/<:98 <>,B/5=30


:+<3/8 7/81+=+5+8 ,+2@+ 3+ 6/,32 8B+7+8 ./81+8 :9<3<3 73;381 ;/<:98
9,B/5=30:+<3/8 =+7:+58B+7+8./81+8:9<3<373;381
'38.+5+8 B+81.36+5>5+8:+.+2+;3&/6+<+ :;36
B+3=>4+7 
* 7/6+5>5+8 :/81>5>;+8 =+8.+=+8.+ ?3=+6 ;/<:98 <>,B/5=30 :+<3/8
7/81+=+5+8 ,/;</.3+ >8=>5 .36+5>5+8 :/81>5>;+8 =+8.+=+8.+ ?3=+6 ;/<:98
9,B/5=30 =/5+8+8 .+;+2 
   771 0;/5>/8<3 8+.3    :/; 7/83=
0;/5>/8<3 :/;8+0+<+8   5+63 :/; 7/83= <>2>    #+.+ 4+7 
 *
7/815+43 5+;+5=/;3<=35 8B/;3 ;/<:98 <>,B/5=30 :+<3/8 7/81+=+5+8 8B/;3 7+<32
=/;+<+ :+.+ 6>5+ ,+5+; 
  8B/;3 :+8+< 5+;/8+ 6>5+ ,+5+;  
8B/;3 =/;+<+ </:/;=3 =/;</81+= +:3    8B/;3 =/;+<+ :+.+ :>811>81 .+8
=+81+8 
  <5+6+ 8B/;3    8B/;3 =/;>< 7/8/;>< ;/<:98 9,B/5=30
/5<:;/<3 @+4+2 :+<3/8 =+7:+5 7/;3813< 7/8+2+8 <+53= +7   *
7/7,/;35+8 =/;+:3 +8+61/<35 #;98+61/<
71 ;/<:98 <>,B/5=30 9,+= 7+<>5

71 <>:9<3=9;3+ +7
  * 7/81+84>;5+8 >8=>5 7/6+5>5+8 ;/6+5<+<3
8+0+< .+6+7 <++= 8B/;3 5+7,>2 ;/<:98 <>,B/5=30 :+<3/8 7/81+=+5+8 ,/;</.3+
;/<:989,B/5=30:+<3/8=+7:+5;36/5< +7
 *7/7,/;35+8:9<3<3B+81
8B+7+8 B+3=> 73;381 ;/<:98 <>,B/5=30 :+<3/8 7/81+=+5+8 6/,32 8B+7+8 :+.+
:9<3<3 73;381;/<:989,B/5=30 :+<3/8 =+7:+58B+7+8./81+8 :9<3<373;381
'38.+5+8 B+81.36+5>5+8:+.+2+;3 %+,>  :;36
4+7  *
7/6+5>5+8 :/81>5>;+8 =+8.+=+8.+ ?3=+6 ;/<:98 <>,B/5=30 :+<3/8 7/81+=+5+8
7+> .36+5>5+8 :/81>5>;+8 =+8.+=+8.+ ?3=+6 ;/<:98 9,B/5=30 =/5+8+8 .+;+2 

  771 0;/5>/8<3 8+.3 5+63 :/;7/83= 0;/5>/8<3:/;8+0+<+8 5+63


:/;7/83=<>2>  +7  *7/7,/;35+8=/;+:3+8+61/<35#;98+61/<

71 ;/<:98 <>,B/5=30 :+<3/8 7/81+=+5+8 ,/;</.3+ ;/<:98 9,B/5=30 9,+=


7+<>5
71<>:9<3=9;3++7

 *7/815+435+;+5=/;3<=358B/;3;/<:98
<>,B/5=30 :+<3/8 7/81+=+5+8 ,+2@+ 8B/;3 <>.+2 ,/;5>;+81 
  8B/;3
:+8+< +53,+= 6>5+ ,+5+;   8B/;3 =/;+<+ </:/;=3 =/;</81+= +:3   
8B/;3=/;+<+:+.+ :>811>81.+8=+81+8 
 <5+6+8B/;3   8B/;3=/;><
7/8/;>< ;/<:98 9,B/5=30 :+<3/8 =+7:+5 7/8+2+8 <+53= +7

  *
7/81+84>;5+8>8=>57/6+5>5+8;/6+5<+<38+0+<.+6+7 <++=8B/;35+7,>2 ;/<:98
<>,B/5=30 :+<3/8 7/81+=+5+8 ,/;</.3+ ;/<:98 9,B/5=30 :+<3/8 =+7:+5 ;36/5<
+7
 * 7/7,/;35+8:9<3<3B+818B+7+8B+3=> 73;381;/<:98<>,B/5=30
:+<3/8 7/81+=+5+87+<328B+7+8./81+8:9<3<3 73;381;/<:989,B/5=30 :+<3/8
=+7:+58B+7+8

 %$"
&/=/6+2.36+5>5+8=38.+5+85/:/;+@+=+8</6+7+ A 4+72+<36/?+6>+<3
B+81 .36+5>5+8 :+.+ 2+;3 &/838  :;36
 4+7
  * ./81+8
7/811>8+5+8 7/=9./ &"# B+3=>     :+<3/8 7/81+=+5+8 6>5+ ,+5+;
7+<32=/;+<+8B/;3 
 8B/;3=/;+<+ :+8+< +53,+=6>5+ ,+5+;  
8B/;3=/;+<+</:/;=3 =/;</81+=+:3   8B/;3=/;+<+.3 :>811>81.+8=+81+8

  <5+6+ 8B/;3    8B/;3 =/;+<+ =/;>< 7/8/;><     /5<:;/<3
@+4+27/;3813<7/8+2+8<+53==/5+8+8.+;+2
 
771 0;/5>/8<3 8+.3
  5+63 :/; 7/83= 0;/5>/8<3 :/;8+0+<+8   5+63 :/; 7/83= <>2>   
    7+<+6+2 ,/6>7 =/;+=+<3   38=/;?/8<3 .36+84>=5+8 +8=+;+
6+38 5+43 5+;+5=/;3<=35 8B/;3 #$%&' >5>; =+8.+=+8.+ ?3=+6 +4+;5+8 =/2835
;/6+5<+<3 8+0+< .+6+7 .+8 .3<=;+5<3 ,/;35+8 :9<3<3 B+81 8B+7+8 596+,9;+<3
./81+8.95=/;.+6+7:/7,/;3+8+8+61/<35
+<36/?+6>+<3 B+81.36+5>5+8:+.+2+;3&/6+<+ :;36
4+7


*./81+87/=9./&"#B+812+<368B++.+6+2    :+<3/8 7/81+=+5+8
8B/;37+<32=/;+<+:+.+6>5+,+5+; 
 8B/;3 :+8+< +53,+=6>5+ ,+5+;
  8B/;3 =/;+<+ </:/;=3 =/;</81+= +:3     8B/;3 =/;+<+ :+.+
:>811>81.+8=+81+8 
 <5+6+8B/;3  8B/;3=/;+<+ =/;><7/8/;><
    /5<:;/<3 @+4+2 7/;3813< 7/8+2+8 <+53= =/5+8+8 .+;+2 
 
771 0;/5>/8<3 8+.3   5+63 :/; 7/83= 0;/5>/8<3 :/;8+0+<+8   5+63 :/;
7/83=<>2>      7+<+6+2,/6>7=/;+=+<3  38=/;?/8<3
.36+84>=5+8+8=+;+6+38>5>; =+8.+=+8.+?3=+65+435+;+5=/;3<=358B/;3#$%&'

,/;35+8 :9<3<3 B+81 8B+7+8 +84>;5+8 7/6+5>5+8 =/2835 ;/6+5<+<3 8+0+< .+6+7
<++=8B/;35+7,>2596+,9;+<3./81+8.95=/;.+6+7:/7,/;3+8+8+61/<35
+<36 /?+6>+<3 B+81 .36+5>5+8 :+.+ 2+;3 %+,>  :;36
 4+7

*./81+87/=9./&"#B+812+<368B++.+6+2    :+<3/87/81+=+5+8
8B/;37+<32=/;+<+:+.+6>5+,+5+; 
 8B/;3 :+8+< +53,+=6>5+,+5+;
  8B/;3 =/;+<+ </:/;=3 =/;</81+= +:3     :+.+ :>811>81 .+8
6/81+8 
  <5+6+ 8B/;3    8B/;3 =/;>< 7/8/;><     /5<:;/<3
@+4+2 :+<3/8 =+7:+5 7/;3813< <++= 7/;+<+ 8B/;3 =/5+8+8 .+;+2 
 
771 0;/5>/8<3 8+.3  :/; 7/83= 0;/5>/8<3 :/;8+0+<+8 5+63 :/; 7/83=
<>2>       7+<+6+2 =/;+=+<3 </,+13+8   38=/;?/8=3
.36+84>=5+8+8=+;+6+38 >5>; =+8.+=+8.+?3=+65+435+;+5=/;3<=358B/;3#$%&'
+84>;5+8 7/6+5>5+8 =/2835 ;/6+5<+<3 8+0+< .+6+7 <++= 8B/;3 5+7,>2 ,/;35+8
:9<3<3B+818B+7+8596+,9;+<3./81+8.95=/;.+6+7:/7,/;3+8+8+61/<35

 
   
 

 $
'( /4/ 6+4;2/9 '1'4 3+3('.'9 :+4:'4- '4'2/9' 4?+8/ '1;: 6'*' 9:;*/
1'9;9 9;.'4 +6+8'=':'4 ?+8/ 1;:  '*' $4 # *+4-'4 ;1' '1'8
+8'0':?'4-*/2'19'4'1'46'*':'4--'2

68/29'36'/
68/2
 */
";'4-'4:/2"#%'8'4-'4?'8 +8*'9'81'4:+58/*'41'9;9 ?'4-3+2/6;:/
6+4-1'0/'4*/'-459'1+6+8'=':'4/4:+8<+49//362+3+4:'9/*'4+<'2;'9/

  
+4-1'0/'4 '*'2'. 9;':; ;9'.' ?'4- */2'1;1'4 52+. 6+8'=': *'2'3
3+4--'2/6+83'9'2'.'4*'8/6'9/+43+2/6;:/;9'.'6+4-;36;2'4*':':+4:'49:':;9 1+9+.':'4 6'9/+4 9+)'8' 9/9:+3':/9 3+4?+2;8;. '1;8': 9/4-1': *'4
(+81+9/4'3(;4-'4;::'7/4
 
+4-1'0/'46'*'$4 #?'4-*/2'1;1'46'*':'4--'2

68/29'36'/

68/2
 0'3  & 6'9/+43+4-'2'3/2;1'('1'81'8+4':+89/8'3'/8
6'4'9 +4;8;: 6+4?+('(4?' 2;1' ('1'8 *'6': */('-/ *'2'3 (+(+8'6' 0+4/9
?'4- 9'2'. 9':;4?' ?'/:; 6'4'9 ('9'. 2;1' ('1'8 ?'4- */9+('(1'4 52+.'/8
6'4'9 3/9'24?' :+15':'; '/8 3/4;3'4 ;::'7/4 *'4 #'8/
  %4:;1
1+2;.'4;:'3'?'4-*/8'9'1'46'9/+43+4-':'1'44?+8/6'4'96'*'2;1'4?'
'2/4/9+9;'/*+4-'4:+58/('.='4?+8/2;1'('1'8*+8'0':3;4-1/49+1'2/

*/9+('(1'4 1'8+4' ;0;4-;0;4- 9?'8', 9+4958/1 ?'4- :+8/8/:'9/ 1'8+4' 2;1'


('1'85+4'*0':
 
'9/2 6+4-1'0/'4 15-4/:/,6+89+6:;'2 6'9/+4

3+4-':'1'4 :/*'1

3+4-'2'3/ -'4--;'4 1+9'*'8'4 -'4--;'4 6+4*+4-'8'4 ':';6;4 -'4--;'4


6+4-2/.':'4 6'9/+4 3+4-':'1'4 4?+8/ 6'*' :'4-'4 *'4 6;4--;4- *+4-'4
91'2' 4?+8/  ?'/:; 4?+8/ 9+*'4- '8'1:+8/9:/1 4?+8/ ?'4- */8'9'1'4 '*'2'.
9+('-'/(+8/1;:    4?+8/6'4'91'8+4'2;1'('1'8  ! 4?+8/
:+8'9'9+6+8:/:+89+4-':'6/  4?+8/:+8'9'6'*'6;4--;4-*'4:'4-'4

  91'2'4?+8/  4?+8/:+8;93+4+8;9 '2/4/ 9+9;'/ *+4-'4:+58/


1'8+4'6'*'6'9/+42;1'('1'8*+8'0':'1'43+4-'2'3/4?+8/ +0'2'6'*'
2;1' ('1'8 *+8'0':  '*'2'. 1;2/: 3+2+6;. *'9'84?' :'36'1 3+8'. ':';
1+6;:/.'4 *'4 :+8/9/ 52+. )'/8'4 1+4:'2 ?'4- 0+84/. 0/1' */9+4:;. ='84'4?'
'1'4(+8;('.3+40'*/6;:/.*'4:+8'9'4?+8/'0/**'4 8'?5-/
 
'9/2 6+3+8/19''4 ,/9/1 ?'/:; :+8*'6': 2;1' ('1'8 6'*' :'4-'4 9+(+2'.
1'4'4*+4-'42;'9 *'4
6'*':'4-'49+(+2'.1/8/(+8='84'1+3+8'.'4
:/*'1 :+8*'6': 6;9 :/*'1 '*' (;2' :/*'1 '*' 6+8;('.'4 (+4:;1 :;2'4- *'4
'18'2 :+8'(' .'4-': '*' 6;4--;4- :+8*'6': 2;1' ('1'8 *+4-'4 2;'9 
(+8='84' 1+3+8'.'4 :/*'1 :+8*'6': 6;9 *'4 :/*'1 '*' (;2'

+3+8/19''4

1;2/::;8-581;2/:+2'9:/9='84'1;2/:9'=53':'4-1;2/:3+4-+2;6'9*/9+1/:'8
2;1'('1'8 ;1'('1'8*+8'0': 3+4-+4'/9+('-/'4*'8/1+:+('2'41;2/:?'43+2/(':1'49+3;'+6/*+83/9*'49+('-/'4*+83/9 '*'1;2/:'1'4'*'(;2'
9+*/1/:5+*+3*'44?+8/(+8':+=/
 


 !$
/'-459' 1+6+8'=':'4 '*'2'. :+83/4525-? ?'4- */-;4'1'4 52+.
6+8'=':685,+9/54'2;4:;13+40+2'91'43'9'2'.1+9+.':'4 :/4-1':1+9+.':'4
8+96549 6'9/+4 :+8.'*'66+4?'1/:':';154*/9/ 6'9/+4 '1:;'2':'; 65:+49/'2
9+('-'/'1/(':*'8/6+4?'1/:?'4-*/*+8/:'+(58'
 
+8;3;9'4 3'9'2'. 1+6+8'=':'4 ?'4- */'3(/2 52+. 6+4;2/9 '*'2'.
4?+8/ '1;: (+8.;(;4-'4 *+4-'4 '-+4 )/*+8' ,/9/1 ?'4- :+2'. */9+9;'/1'4
*+4-'4 */'-459' 1+6+8'=':'4  '*' 1'9;9 ?'4- */'2'3/ $4 #
:+80'*/ 4?+8/ '1;: ?'/:; 6+4-'2'3'4 9+4958/ *'4 +359/54'2 ?'4- :/*'1
3+4?+4'4-1'4 ?'4- 3;4);2 '1/(': 1+8;9'1'4 0'8/4-'4 ?'4- '1:;'2 ':';
65:+49/'2 ':'; */-'3('81'4 *'2'3 .'2 1+8;9'1'4 9+*+3/1/'4 8;6'
      
!    '=/:'4 ?'4- :/(':/('':';
2'3(': *'8/ /4:+49/:'9 8/4-'4 ./4--' (+8': *+4-'4 '1./8 ?'4- *'6':
*/'4:/9/6'9/ ':'; */68+*/19/ *'4 (+82'4-9;4- 1;8'4- *'8/  (;2'4

  /'-459'/4/*/:+-'11'4(+8*'9'81'4*':'?'4-*/:+3;1'4
6'*' 9'': 6+4-1'0/'4 ?'/:; 6'9/+4 3+4-':'1'4 4?+8/ 6'4'9 6'*' 6;4--;4*'4:'4-'41'8+4'2;1'('1'84?+8/:+8'9'9+6+8:/:+89+4-':'6/*+4-'491'2'
4?+8/  4?+8/ :+8'9' :+8;9 3+4+8;9 +1968+9/ ='0'. 6'9/+4 :'36'1 3+8/4-/9
3+4'.'49'1/: 6'(/2'3'9'2'.4?+8/?'4- 6'9/+4 '2'3/*'6'::+8':'9/3'1'
1+3;4-1/4'4 3'9'2'. 2'/4 '1'4 :+8':'9/ 9+./4--' 1+4?'3'4'4 6'9/+4 *'6':
:+86+4;./

 #  
#+:+2'. 3+4-/*+4:/,/1'9/ */'-459' 1+6+8'=':'4 *'4 1+1;':'44?'
2'4-1'. (+8/1;:4?' '*'2'. 6+8+4)'4''4 '9;.'4 1+6+8'=':'4

'*' 2'4-1'.

/4/ 6+8'=': 3+4+:'61'4 :;0;'4 *'4 .'9/2 ?'4- */.'8'61'4 ('-/ 6'9/+4 9+8:'
3+4)'6'/:;0;'4*'418/:+8/'.'9/2 +88?*'4 5::+8
 
+8+4)'4''4 *'4 :;0;'4 *'8/ :/4*'1'4 1+6+8'=':'4 3+4--;4'1'4
1'/*'. 9+9;'/ *+4-'4 9/9:+3':/1' #"$ ?'/:;
 1.;9;9
   *'6': */ ;1;8   *'6': :+8)'6'/   *'4
 ='1:; :+:'6/ *'2'3 .'2 /4/ :+8*'6': 1+9+40'4-'4 *+4-'4 68/49/6
:+89+(;: :+8;:'3' *'2'3 6+4+4:;'4 18/:+8/' .'9/2 *'4 ='1:; 6+4)'6'/'4
8/:+8/' .'9/2 6'9/+4 3+4-':'1'4 4?+8/ (+81;8'4- :/*'1 3+8/4:/. 1+9'1/:'4
:/*'1:+82/.':6;)':#+*'4-1'46+4+4:;'4='1:;6+4)'6'/'49+2'3':/-'.'8/
3;4-1/4 :+82'2; 9/4-1': ;4:;1*'6': */)'6'/ 3+4-/4-': 4?+8/ '1;: 3;4-1/4
:/*'1 '1'4 ./2'4- 9+6+4;.4?' *'2'3 1;8;4 ='1:; :+89+(;:

+4?;9;4'4

/4:+8<+49/ *'2'3 1'9;9 /4/ :/*'1 9+6+4;.4?' 9+9;'/ *+4-'4 :+58/ 4'3;4
*/9+9;'/1'4*+4-'41+(;:;.'4*'41+'*''46'9/+4
+8*'9'81'4 :;0;'4*'8/*/'-459'4?+8/'1;:(+8.;(;4-'4*+4-'4'-+4
)/*+8' ,/9/1 2;1' ('1'8 '*'2'. 9+:+2'. */2'1;1'4 :/4*'1'4 1+6+8'=':'4
9+2'3' >
0'3 */.'8'61'4 4?+8/ (+81;8'4- +4-'4 18/:+8/' .'9/2 6'9/+4
3+4-':'1'4 4?+8/(+81;8'4- ':';*'6':*/'*'6:'9/ :/*'13+8/4:/.1+9'1/:'4
+1968+9/ ='0'. :+4'4- :'4*':'4*' </:'2 *'2'3 (':'9 4583'2 ;::'7/4 *'4
#'8/
  '8+4' 3+4-/4-': 4?+8/ ?'4- */8'9'1'4 6'9/+4 '*'2'. 4?+8/
*+4-'4 91'2'':';4?+8/9+*'4-*'4(+2;3*'6'::+8':'9/9+2'3' >
0'3

3'1'6+4;2/93+2'1;1'4'9;.'41+6+8'=':'49+2'3' >
0'3 4:+8<+49/4?'
1'0/ 1'8'1:+8/9:/14?+8/ !"#$3+2/6;:/    ':';6+3/);?'/:;,'1:58
?'4- 3+4/3(;21'4 4?+8/ *'4 3+36+4-'8;./ -'=': ':'; 8/4-'44?' 4?+8/
 ! ':'; 1;'2/:'9 4?+8/ ?'/:; 9+6+8:/ '6' 4?+8/ ?'4- */8'9'1'4 ':';
*/-'3('81'4 6'9/+4 '6'1'. 4?+8/ (+89/,': :;36;2 9+6+8:/ :+8('1'8
(+8*+4?;: :'0'3 ':'; 3+4;9;1  ?'/:; 251'9/ 4?+8/ ?'4- */8'9'1'4
6'9/+4   ?'/:;9+(+8'6'0';.4?+8/?'4-*/8'9'1'46'9/+43/9'24?'91'2'
4?+8/:/*'1'*'4?+8/91'2'4?+8/  ?'/:;4?+8/8/4-'491'2'4?+8/  
?'/:; 4?+8/ 9+*'4- 91'2' 4?+8/    ?'/:; 9'4-': 4?+8/ :+:'6/ 3'9/. *'6':
*/1+4*'2/1'4 *+4-'4 '1:/</:'9 ?'4- (/'9' */2'1;1'4 91'2' 4?+8/  ?'/:;
9'4-': 4?+8/ *'4 :/*'1 (/9' */1+4*'2/1'4  1'6'4 4?+8/ */8'9'1'4 52+.
6'9/+40'4-1'='1:; 9+8'4-'4*'4,8+1;+49/4?+8/#'6;:8'
 
(9+8<'9/:'4*':'4*'</:'2 :+8;:'3':+1'4'4*'8'.4'*/*'48+96/8'9/
1'8+4' 3+8;6'1'4 /4*/1':58 6+4:/4- :+8.'*'6 '*'4?' 6+4/4-1':'4 /4:+49/:'9
4?+8/ 6+4-;1;8'4 :'4*' </:'2 *'4 6+4-1'0/'4 4?+8/ 3+3(+8/1'4 *':' ;4:;1
3+4+4:;1'4 1+'*''4 1+9+.':'4 6'9/+4 9+('-'/ 8+96549 :+8.'*'6 9:8+99 ,/9/1
*'4 69/1525-/9 9+8:' 3+*/9 1+6+8'=':'4 ':'; :+8'6/ ,'83'1525-/9 '*'
(+(+8'6' 1'9;9 4?+8/ *'6': 3+36+4-'8;./ :'4*':'4*' </:'2 6'9/+4
 +88? *'4 5::+8
  0'81'4 :+14/1 8+2'19'9/ 4','9 *'2'3 '*' 6'9/+4
2;1' ('1'8 9+58'4- :+8'6/9 *'6': 3+3/4/3'21'4 8'9' 4?+8/ *+4-'4
3+4-'0'81'4 :+14/1 8+2'19'9/ ':'; -;/*+* /3'-+8? 8+2'19'9/ 3+4/4-1':1'4
+,+1:/</:'95(':6+4;8;48'9'4?+8/1'8+4'*'6':3+4;8;41'41+:+-'4-'45:5:
*'4 3+4/4-1':1'4 '2/8'4 *'8'. '0/* *'4 8'?5-/
  +8/1'4 659/9/

?'4- 4?'3'4 59/9/ ?'4- */(+8/1'4 6'*' 6'9/+4 2;1' ('1'8 '*'2'. 659/9/
3/8/4- 1'8+4' 659/9/ 3/8/4-  3+4-./2'4-1'4 :+1'4'4 *'8/ :54052'4 :;2'46'*'6;4--;4-6'9/+4*'43+4*/9:8/(;9/1'4('-/'4;:'3'(+8':('*'46'9/+4
6'*' 6'4--;2 *'4 ('.; */ ('='.  +88? *'4 5::+8
  '*' 1'9;9 /4/
6'9/+4 3+4-':'1'4 ('.=' /' 2+(/. 4?'3'4 6'*' 659/9/ 3/8/4- 52'(58'9/
*+4-'4 *51:+8 ;4:;1 3+3(+8/1'4 '4'2-+:/1?'/:; 6854'2-+9 39;6659/:58/' 854'2-+9 3+8;6'1'4 9'2'. 9':; 5(': '4'2-+9/1 ?'4- */(+8/1'4
1+6'*' 6'9/+4 ?'4- 3+4-'2'3/ 4?+8/ 9+6+8:/ 6'*' 6'9/+4 2;1' ('1'8 59/9
6'*'4?+8/  3- 9+:/'60'39;659/:58/'#
 

 " %$
362+3+4:'9/'*'2'.:'.'61++36':*'8/6859+91+6+8'=':'4$'.'6/4/
3;4);2 0/1' 6+8+4)'4''4 ?'4- */(;': */'62/1'9/1'4 6'*' 6'9/+4 $/4*'1'4
?'4- */2'1;1'4 3;4-1/4 9'3' 3;4-1/4 0;-' (+8(+*' *+4-'4 ;8;:'4 ?'4:+2'. */(;': 6'*' 6+8+4)'4''4 62/1'9/ ?'4- */2'1;1'4 6'*' 6'9/+4'1'4
(+8(+*' */9+9;'/1'4 *+4-'4 154*/9/ 6'9/+4 9'': /:; *'4 1+(;:;.'4 ?'46'2/4-*/8'9'1'452+. 6'9/+4 +(58'
 
+2'19'4''4 :/4*'1'4 ?'4- :+2'. */8+4)'4'1'4 9+3;'4?' :+2'. 6+4;2/9
2'1;1'4

+4;2/9 :/*'1 3+4-'2'3/ .'3(':'4 *'2'3 3+2'19'4'1'4 8+4)'4'

1+6+8'=':'4 ?'4- :+2'. */9;9;4 +2'19'4''4 :/4*'1'4 1+6+8'=':'4 /4/


*/2'19'4'1'4 6'*' :'4--'2

 68/2 9'36'/
 68/2
  '4:'8' 2'/4
3+4-1'0/ :'4*':'4*' </:'2 3+2/6;:/ 3+4-;1;8 9;.; :;(;. 6'9/+4
3+4--;4'1'4 :+8353+:+8 3+4-1'0/ 6+84'6'9'4 /8'3' ,8+1;+49/

1+*'2'3'43+4-./:;4-4'*/3+4-;1;8:+1'4'4*'8'. +3+8/19''4:'4*'
:'4*' </:'2 3+8;6'1'4 9;':; )'8' ;4:;1 3+4+4:;1'4 1+'*''4 1+9+.':'4
6'9/+4 9+('-'/ 8+96549 :+8.'*'6 9:8+99 ,/9/1 *'4 69/1525-/9 9+8:' 3+*/9
1+6+8'=':'4':';:+8'6/,'83'1525-/9 +88?*'4 5::+8
 
362+3+4:'9/ ?'4- 6+4;2/9 2'1;1'4 ?'/:; '4:'8' 2'/4 3+4-1'0/
1'8'1:+8/9:/1 4?+8/ 3+4-1'0/ :'4*':'4*' </:'2 3+3(+8/1'4 659/9/ ?'44?'3'4 3+4-'0'81'4 :+.4/1 8+2'19'9/ 4','9 *'2'3 9+:+2'.  3+4-'0'81'4
:+.4/18+2'19'9/4','9*'2'36+4;2/90;-'3+4?'8'41'41+6'*' 6'9/+4 ;4:;1
3+4-;2'4-/4?' 9'': 4?+8/ 1'3(;. *'4 (+8152'(58'9/ *+4-'4 *51:+8 *'2'3
6+3(+8/'4 '4'2-+9/1 4:+8<+49/ */2'1;1'4 9'3' *+4-'4 /362+3+4:'9/ ;4:;1
3+4-':'9/ 3'9'2'. 4?+8/ '1;: 1'8+4' 4?+8/ '1;: '1'4 3+4/3(;21'4 8+'19/
,/9/1 *'4 6+8/2'1; *'4 '6'(/2' :/*'1 */.+4:/1'4 6'*' :'.'6 ?'4- :+6': *'4
);1;6*/4/'1'43+4?+('(1'49/4*853 4?+8/ +88?*'4 5::+8
  '1:58
6+4*;1;4- /362+3+4:'9/ */*'6':1'4 *'8/ .'9/2 6+4-1'0/'4 6'9/+4 ?'41556+8':/,*'41+2;'8-'/1;:(+1+80'9'3'
+4;2/90;-'3+2'1;1'4/362+3+4:'9/*/2;'8/4:+8<+49/?'/:;3+2'1;1'4
6+8'=':'4 2;1' ('1'8 ?'/:; 9;':;

:/4*'1'4 ;4:;1 3+3(+89/.1'4

*+(8/*+3+4: 3+4--'4:/ ('2;:'4 2;1' 3+8'=': *'4 3+4-5(':/ 2;1' *+4-'4


5(': '4:/3/185(' '0/* *'4 8'?5-/
  $/4*'1'4 6+8'=':'4 2;1'
3+8;6'1'49'2'.9':;:/4*'1'4?'4-.'8;9*/2'1;1'46'*' 6'9/+4 2;1'('1'8
1'8+4' 6'9/+4 3+4-'2'3/ -'4--;'4 /4:+-8/:'9 1;2/: ?'4- 3+3;4-1/41'4
:+80'*/ 3'9'2'. 1+9+.':'4 ?'4- 2+(/. 9+8/;9 $;0;'4 ;:'3' *'8/ 6+8'=':'4
2;1':+89+(;:'*'2'.3+4-+3('2/1'4/4:+-8/:'91;2/:*'43+4)+-'.:+80'*/4?'

15362/1'9/ /4,+19/ /4' #'4'8:5 $'7/?'.


  '4 3+3(+8/1'4 5(':
'4:/(/5:/1 :56/1'2 (;84'@/4 9+:+2'. */2'1;1'4 6+8'=':'4 2;1' ?'/:; ;4:;1
3+4)+-'. *'4 3+4-':'9/ /4,+19/ ?'4- :+80'*/ 6'*' 2;1' 5+4'*0':
 
;1' ('1'8 *+8'0': 9':; *'4 *;' ?'4- 3+4?/9'1'4 +2+3+4 +6/:+2 (+8;6'
1+2+40'8 9+('9+' 1+2+40'8 1+8/4-': ':'; 6'4-1'2 8'3(;: *'6': */.'8'61'4
9+3(;. 9+4*/8/ '9'2 */0'-' 9;6'?' +2+3+4 +6/:+2 :+89+(;: :/*'1 .'4);8 ':';
8;9'1 1'8+4' /4,+19/ '*' 2;1' 2+(/. *'2'3 6+82; */;9'.'1'4 9+)+6':
3;4-1/43+3(;'4-0'8/4-'41;2/:?'4-3':/*'43+3(+8/5(': :56/1'2?'4*'?'

:+3(;94?'

:/4--/

9'36'/

3+4)'6'/

*'9'8

0'8/4-'4

3':/

#0'39;./*'0':
 

 '&$
<'2;'9/ 3+8;6'1'4 :'.'6 '1./8 *'8/ '9;.'4 1+6+8'=':'4 ?'43+3('4*/4-1'4 .'9/2 :/4*'1'4 ?'4- :+2'. */2'1;1'4 *+4-'4 18/:+8/' .'9/2
?'4- 9;*'. */:+:'61'4 9+8:' 3+4/2'/ '6'1'. 3'9'2'. ?'4- :+80'*/ 9;*'.
:+8':'9/ 9+2;8;.4?' .'4?' 9+('-/'4 ':'; ('.1'4 (+2;3 :+8':'9/ 9+3;'4?'
+(58'
 
<'2;'9/ *'8/ :/4*'1'4 ?'4- */2'1;1'4 6'*' .'8/ "'(;
 68/2

0'3  & *+4-'4 3+:5*+ #  ?'4- .'9/24?' '*'2'. 6'9/+4
3+4-':'1'4 3'9/. 3+8'9'1'4 4?+8/ 6'4'9 6'*' 2;1' ('1'8 91'2' 4?+8/ 
4?+8/:+8;93+4+8;91+2;.'4/4/3'9/.*/8'9'1'46'*'.'8/1+:/-'9+./4--'
(/9' */ '3(/2 1+9/36;2'4 ('.=' 3'9'2'. 6'9/+4 :+2'. :+8':'9/ 9+('-/'4
*+4-'4*+3/1/'4/4:+8<+49/6+82;*/2'40;:1'4 ;4:;13+4-':'9/3'9'2'.4?+8/

?'4-*/'2'3/ 6'9/+4?'/:;1'0/1'8'1:+8/9:/14?+8/ !"#$1'0/:'4*':'4*'


</:'2 '40;81'4 3+2'1;1'4 :+.4/1 8+2'19'9/ 4','9 *'2'3 9'': 4?+8/ 1'3(;.
(+8/1'4 659/9/ ?'4- 4?'3'4 152'(58'9/ *+4-'4 *51:+8 *'2'3 6+3(+8/'4
'4'2-+9/1

 "&  #


 "&
' '9/2 6+4-1'0/'4 9;(?+1:/, *'4 5(?+1:/, 6'*' $4 # *+4-'4 4?+8/
'1;: '1/(': 2;1' ('1'8 '*'2'. 6'9/+4 3+4-+2;. 4?+8/ 6'4'9 1'8+4'
2;1' ('1'8 4?+8/ 9+6+8:/ :+89+4-': '6/ 4?+8/ :+8'9' */ :'4-'4 *'4
6;4--;4- *+4-'491'2'4?+8/4?+8/ */8'9'1'4:+8;93+4+8;9
( /'-459'1+6+8'=':'4 ?'4-3;4);2'*'2'.4?+8/'1;:(+8.;(;4-'4
*+4-'4'-+4)/*+8',/9/12;1'('1'8
) "+4)'4'9;.'4+6+8'=':'4?'4-*/2'1;1'4*+4-'4:;0;'49+:+2'.
*/2'1;1'4:/4*'1'41+6+8'=':'49+2'3' >
0'3*/.'8'61'44?+8/
*'6':(+81;8'4-9'36'/./2'4-*+4-'418/:+8/'.'9/291'2'4?+8/
+1968+9/='0'. 6'9/+4 :'36'18/2+19'4:'8'2'/4;1;8 :'4*':'4*'
</:'2 9;.; 4'*/ 6+84','9'4 *'4 :+1'4'4 *'8'. 1'0/ 1'8'1:+8/9:/1
4?+8/  !"#$(+8/1'4659/9/?'4-4?'3'4'0'81'4:+.4/18+2'19'9/
4','9*'2'3152'(58'9/*+4-'4*51:+8*'2'36+3(+8/'4'4'2-+9/1
* 362+3+4:'9/?'4-:+2'.*/2'1;1'46'*'$4#6'*':'4--'2

68/2
9'36'/
 68/2
  '*'2'. 3+4-1'0/ :'4*':'4*' </:'2 3+4-1'0/
1'8'1:+8/9:/1 4?+8/ 3+3(+8/1'4 659/9/ ?'4- 4?'3'4 3/8/4-

3+4-'0'81'4 :+1.4/1 8+2'19'9/ 4','9 *'2'3 (+8152'(58'9/ *+4-'4


*51:+8*'2'36+3(+8/'4'4'2-+9/16854'2-+9
+ <'2;'9/*'8/:/4*'1'41+6+8'=':'4?'4-:+2'.*/2'1;1'46'*'$4#
6'*' :'4--'2

68/2 9'36'/
 68/2
  '*'2'. 3'9'2'. :+2'.
:+8':'9/ 9+('-/'4 */(;1:/1'4 *+4-'4 6'9/+4 3'9/. 3+8'9'1'4 4?+8/
6'4'96'*'2;1'('1'89+6+8:/:+89+4-':'6/*+4-'491'2'4?+8/ 
, '9/2 '4'2/9' 4?+8/ 6'*' $4 # '*'2'. 6'*' 2;1' ('1'8 :+8'9' 4?+8/
9+6+8:/:+89+4-':'6/*+4-'491'2'4?+8/?'/:;4?+8/9+*'4-

 #
' '-/";3'.#'1/:
/.'8'61'4 8;3'. 9'1/: 1.;9;94?' "#% '8'4-'4?'8 *'6':
3+3(+8/1'4 6+2'?'4'4 1+9+.':'4 *'4 3+36+8:'.'41'4 .;(;4-'4
1+80'9'3' ?'4- ('/1 '4:'8' :/3 1+9+.':'4 3';6;4 6'9/+4 9+./4--'
*'6': 3+4/4-1':1'4 3;:; 6+2'?'4'4 '9;.'4 1+6+8'=':'4 ?'456:/3'2
( '-/$+4'-'+9+.':'4
.;9;4?' 6+8'=': */.'8'61'4 9+2'2; (+81558*/4'9/ *+4-'4 :/3
1+9+.':'4 2'/44?' *'2'3 3+3(+8/1'4 '9;.'4 1+6+8'=':'4 6'*'
6'9/+4 '-'8 2+(/. 3'19/3'2 +8'=': */.'8'61'4 *'6': 3+3(+8/1'4
6+2'?'4'49+)'8'685,+9/54'2*'415368+.+49/,

) '-/49:/:;9/ +4*/*/1'4
'6': 3+4/4-1':1'4 3;:; 6+4*/*/1'4 ?'4- 2+(/. (+81;'2/:'9 *'4
685,+9/54'29+./4--'*'6'::+8)/6:'6+8'=':685,+9/54'2:+8'36/2*'4
(+83;:; ?'4- 3'36; 3+3(+8/1'4 '9;.'4 1+6+8'=':'4 9+)'8'
3+4?+2;8;.(+8*'9'81'415*++:/11+6+8'=':'4

 
 

/,9<+ !.+ 
  "<9=/= ().+& & %)!#*& !*!# +5+<>+ 
$+6/7,+ /.35+
/A3 )?63+ #$ 
 ,#
#)  '&*( %,% & &-*+!*!
)*!*
$!&!* ,# &+%')+% & '*+%')+% 2>>:94= ?8?. +- 3.38./B
:2: /?7 +<>3-6/ .9A869+.   .3+5=/= :+.+ >+811+6   /3 :?5?6

 (
<+-/ " .+8 /36 9<6/C 
 +$& $%,
 !*! #+! +5+<>+
<6+811+
/<.7+8 % 
     &+)&*!'&$ !&'* ().+& +5+<>+ 

5+>+8 :9>/5/< 8.98/=3+ 
  &')%*! (*!$!+ +  &'&*!
+5+<>+ "%$"/8/<,3>+8
+43.  .+8 "<+C913 $ 
 
,#, !&+) ).+& *!& ,#
#)
+5+<>+ 9=C/8"?,63=2381
9/8+.4+> )/0>+ 
  ,#
#) &+ ,& $!&!* )#+!* !*! #,
+5+<>+&
?,+<+5 ( .+8 $ ?<?6 2+C+>38 

,#, ") ,+, & *)
&,*! ')! & ($!#*! $% ().+&+5+<>+
?>>+;38 <30 
  &#"!& ().+& ($!#*! ( )#+!# $!&!#
+5+<>+ $+6+/7,+ /.35+
?>>+;38  .+8 $+<3  
  *, & ().+& &,& !*+%
&+,%& +5+<>+ $+6/7,+ /.35+
"/<<C .+8 :9>>/< 
 
,#, #, +)%(!$& & )'*,) *) !*! 
+5+<>+

"<3-/ $ .+8 (36=98  


  +'!*!'$'! '&*( $!&!* )'**)'**
&0#!+.3=3'96?7/
 +5+<>+
"?<8+7+ ?<3+>?6(3A35# 
 "/<,+8.381+8 "/7,/<3+8 <37 5=><+5
>+896 +?8 $/8.?.?5 $*+'% $+))!#,%  '!*+ /('*

,)& !&+%&+ ' .+8 '!*+ )**!& $/-+<+ %9:35+6 %/<2+.+:


"/8C/7,?2+8 ?5+ +5+< /<+4+>  #+>>?= 9<@/13-?= 2>>:
49?<8+6?8+3<+-3. 036/<" 9<7+> 
?<8+6 
"/8/63>3+8

+?8
38+981:.0 .3+5=/= :+.+ >+811+6
:<36
 :?5?6
 (
$+:?><+C8.98
  &&+) ,+, & *) &,*!+5+<>+ 
#&"$#"?,63=2/<
$4+7=?23.+4+> # .+8 (37 / 981 
 
,#, ") $%,
  +5+<>+ 

$ 38+  $+8+<>9 %+;3C+2  
  &), )#,&*! ).+& ,#

#) )"+  && , +) $') ) ( %
&0%, &,# 2>>:/49?<8+6?77+-3.38./B:2:5/:/<+A+>+8
+<>3-6/ @3/A 36/
 *?77*=-3/8>303-*49?<8+6:.0 .3+5=/= >+811+6

:<36
 :?5?6
 (

Anda mungkin juga menyukai