:<3(à1,$32'$71,.
0LQ)LQ
3,7
1XPHU,GHQW\ILNDFML3RGDWNRZHMSRGDWQLND
JFFFFOFFFFOFFFFK
JFFFFOFFFFOFFFFK
JFFFFOFFFFK
JFFFFOFFFFK
3,7
2:,$'&=(1,(
GODFHOyZGRNRQDQLDURF]QHJRREOLF]HQLDSRGDWNXGRFKRGRZHJRRGGRFKRGX
X]\VNDQHJRSU]H]SRGDWQLND]D
JFFFFOFFFFOFFFFOFFFFK
URN]ZDQ\GDOHM´URNLHPSRGDWNRZ\P´
3RGVWDZDSUDZQD $UWXVWXVWDZ\]GQLDOLSFDURSRGDWNXGRFKRGRZ\PRGRVyEIL]\F]Q\FK']8]U1U SR]]Sy(Q]P
]ZDQHMGDOHM´XVWDZ´
$ '$1(,'(17<),.$&<-1(,$'5(6=$0,(6=.$1,$
32'$71,.$
1D]ZLVNR
3LHUZV]HLPL
:RMHZyG]WZR
3RZLDW
*PLQD
8OLFD
1UGRPX
1UORNDOX
0LHMVFRZRü
.RGSRF]WRZ\
3RF]WD
%1$=:$,$'5(685= '86.$5%2:(*2
1D]ZDLDGUHVXU] GXVNDUERZHJRZáDFLZHJRZHGáXJPLHMVFD]DPLHV]NDQLDSRGDWQLND
1LQLHMV]\PSURV] SáDWQLND
QD]ZDSHáQD]DNáDGXSUDF\
RGRNRQDQLHURF]QHJRREOLF]HQLDSRGDWNXRGGRFKRGXX]\VNDQHJRSU]H]HPQLHZURNXSRGDWNRZ\PJG\*
DSR]DGRFKRGDPLX]\VNDQ\PLRGSáDWQLNDQLHX]\VNDáHPDPLQQ\FKGRFKRGyZ]Z\MWNLHP
]DVLáNyZ]XEH]SLHF]HQLDVSRáHF]QHJRSR]RVWDMF\FKZ]ZL]NX]]DWUXGQLHQLHPXSáDWQLND
ZLDGF]H SLHQL *Q\FKZ\QLNDMF\FK]SU]HSLVyZR]DNZDWHURZDQLX6Lá=EURMQ\FK5]HF]\SRVSROLWHM3ROVNLHMSR]RVWDMF\FK
Z ]ZL]NX]HVWRVXQNLHPVáX*ERZ\PXSáDWQLND
GRFKRGyZRNUHORQ\FKZDUWLXVWDZ\
EQLHE
G
NRU]\VWDáD]RGOLF]H RGGRFKRGX]Z\MWNLHPRNUHORQ\FKZDUWXVWSNWLXVWDZ\
FQLHE
G
NRU]\VWDáD]RGOLF]H RGSRGDWNX]Z\MWNLHPVNáDGNLQDXEH]SLHF]HQLH]GURZRWQHSREUDQHMZURNXSRGDWNRZ\P
SU]H]SáDWQLND
GQLHE G NRU]\VWDáD]PR*OLZRFLáF]QHJRRSRGDWNRZDQLDPRLFKGRFKRGyZ]GRFKRGDPLPDá*RQNDEG( RSRGDWNRZDQLD
Z VSRVyESU]HZLG]LDQ\GODRVyEVDPRWQLHZ\FKRZXMF\FKG]LHFL
RGRNRQDQLHRGOLF]H RGGRFKRGX]W\WXáX
DVNáDGHNQDU]HF]RUJDQL]DFMLGRNWyU\FKPRMDSU]\QDOH*QRüMHVWRERZL]NRZDWMQDU]HF]
QD]ZDRUJDQL]DFML
ZZ\VRNRFL
]á
JU
E]ZURWXQLHQDOH*QLHSREUDQ\FKZLDGF]HNWyUHXSU]HGQLR]ZL NV]Dá\GRFKyGSRGOHJDMF\RSRGDWNRZDQLXZZ\VRNRFL
]á
JUNZRWDWDXZ]JO GQLDSRGDWHNMH*HOLQLH]RVWDá\RQHSRWUFRQHRGGRFKRGXSU]\SRERU]H]DOLF]HN
RXZ]JO GQLHQLHNRV]WyZX]\VNDQLDSU]\FKRGyZZZ\VRNRFLZ\GDWNyZIDNW\F]QLHSRQLHVLRQ\FKXGRNXPHQWRZDQ\FKLPLHQQ\PL
ELOHWDPL RNUHVRZ\PL WM Z Z\VRNRFL
]á
JU SRQLHZD* V RQH Z\*V]H RG NRV]WyZ ]U\F]DáWRZDQ\FK
RGOLF]RQ\FKZURNXSRGDWNRZ\PSU]H]SáDWQLND
&2:,$'&=(1,(,32'3,632'$71,.$
2ZLDGF]DP*HSRZ\*V]HGDQHSRGDáHPDP]JRGQLH]HVWDQHPIDNW\F]Q\PRUD]*HV PL]QDQHSU]HSLV\.RGHNVXNDUQHJRVNDUERZHJR
R RGSRZLHG]LDOQRFL]DSRGDQLHGDQ\FKQLH]JRGQ\FK]U]HF]\ZLVWRFL
'DWDZ\SHáQLHQLDG]LH PLHVLFURN
JFFFFOFFFFK
JFFFFOFFFFK
JFFFFOFFFFOFFFFOFFFFK
3RGSLV
2EMDQLHQLD
'R]áR*HQLDRZLDGF]HQLDV XSUDZQLHQL
SUDFRZQLF\
F]áRQNRZLHUROQLF]HMVSyáG]LHOQLSURGXNF\MQHMOXELQQHMVSyáG]LHOQL
]DMPXMFHMVL SURGXNFM UROQ
W\PF]DVRZRDUHV]WRZDQLOXEVND]DQL
RVRE\RWU]\PXMFHHPHU\WXU\LUHQW\]]DJUDQLF\]DSRUHGQLFWZHPEDQNX
RVRE\SR]RVWDMFHZVWRVXQNXVáX*ERZ\PXSáDWQLND
RVRE\RWU]\PXMFHVW\SHQGLXP
:SLVXMHVL PLHMVFHVWDáHJROXEF]DVRZHJR]DPLHV]NDQLDQLHNUyWV]HJRQL* PLHVLFH