Dunia Hadapi
Krisis Energi
Global
MEDIA KOMUNIKASI KEMENTERIAN ENERGI DAN SUMBER DAYA MINERAL
EDISI 06 | 2012
Penyadaran
Yang Kuat
Dalam Berhemat
Pemerintah Usung
Pengelolaan
Energi Berbasis
Permintaan
Waspada,
Status Dua
Gunung Api
Jatim
future
energy
Songsong Masa Depan
dengan
ENERGI ALTERNATIF
& RAMAH LINGKUNGAN
efficient energy,
!
"#$%&#'(
KESDM
Penanggung Jawab Sekretaris Jenderal Pengarah Staf Ahli Menteri Bidang Ekonomi dan Keuangan, Staf Ahli Menteri Bidang Komunikasi dan Sosial Kemasyarakatan, Kepala Biro Hukum dan Humas, Pardamean Ronitua H., Buntje Harbunangin Redaktur Kepala Bagian Hubungan Masyarakat, Kepala Bagian Penelaahan Hukum, Kepala Bagian Bantuan Hukum, Kepala Bagian Penyusunan Peraturan Perundang-Undangan, Kepala Subbagian Peliputan dan Hubungan Media Editor Indra Tauhid Cahyandaru, Dian Eka Puspitasari, Vagunaldi, Dian Lorinsa, Arid Riza Abadi, Laksono Nur Brahmantyo Desainer Grafis Bambang Wijiatmoko, Pandu Satria Jati Fotografer Judhi Purdhiyanto, Arief Suryadi, Tursilowulan Wahyu Hastuti Sekretariat Hari Budiono, Lufti Ekaputra Setiadi, Bunga Adi Mirayanti, Subhana Nurhidayat, Safii, Khoiria Oktaviani Alamat Kementerian Energi dan Sumber Daya Mineral - Jl. Medan Merdeka Selatan No.18, Jakarta 10110, Tromol Pos : 1344/ JKT 10013, Tel. / Faks. (021) 344 0649 , email. publikasi@esdm.go.id
!"#"$%&'(")"$*"+,$-"'.$/0#'"1.2
3.4"-$ 1&#"5"2$ 6789$ 9",$ 1&:"/$ /"4.#$ 4.$ /"4"%"+$ ;+4"$ <+1<-$ -":.$
-&&+"'=$7&>"-$&4.5.$%"+"$/.+,,"$&4.5.$-&&+"'$.+.2$#&4"-5.$(&#<%"*"$
'&+*"'%".-"+$(&#(",".$"#1.-&:$.+?0#'"1.?$4"+$"-1<":$5&%<1"#$&+&#,.$
4"+$5<'(&#$4"*"$'.+&#":=$@&4"-5.$(&#/"#"%$("/A"$#"+,-"."+$.+?0#'"5.$
*"+,$4./"4.#-"+$4"%"1$'&'(&#.$'"+?""1$4"+$><,"$%&'"/"'"+$5&:<"5B
:<"5+*"$ 1&+1"+,$ -0+4.5.$ 1&#-.+.$ %&+,&:0:""+$ &+&#,*$ +"5.0+":$ *"+,$
4./"4"%.$0:&/$("+,5"$C+40+&5."=
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
9&+,.#.+,.+*"2$#&4"-5.$'&+*">.-"+$%<:"$(&(&#"%"$"#1.-&:$*"+,$)<-<%$'&+"#.-$<+1<-$4.5.'"-=$8./"#"%-"+2$ #","'$ 5">."+$ 1&(<1$ "-"+$ 5&'"-.+$ '&A"#+".$ A"A"5"+$ ;+4"$ 1&+1"+,$ %&+,&:0:""+$ &+&#,.2$ -/<5<5+*"$ 4.$ 1"+"/$".#$1&#).+1"=
;-/.#$ -"1"2$ #&4"-5.$ '&+,<+4"+,$ ;+4"$ <+1<-$ '&'(&#.-"+$ -0+1#.(<5.$ +*"1"$ 1&#/"4"%$ %&+,&:0:""+$ &+&#,.$ '&:":<.$-#.1.-$4"+$5"#"+$1&#/"4"%$'&4."$*"+,$-.1"$).+1".$("'"$.+.=$J#.1.-2$5"#"+2$1"+,,"%"+$4"+$-0'&+1"#$ ;+4"$1&+1<$"-"+$'&+4<-<+,$#&4"-5.$<+1<-$'&'(&#.-"+$.+?0#'"5.$*"+,$:&(./$(".-$4"+$(&#'"+?""1$<+1<-$ -.1"$5&'<"=
t ,FMVBSHB#FTBS,FNFOUFSJBO&4%. .FNQFSJOHBUJ)653*,F t ,FTJBQBO+FMBOH)BSJ3BZB*EVM'JUSJ 1433 t .VEJL#FSTBNB,FMVBSHB#FTBS &4%. t )BMBM#JIBMBM,FNFOUFSJBO&4%. t %JTLVTJ1BOFM%J"KBOH***$& t 1FOZBEBSBO:BOH,VBU%BMBN #FSIFNBU t .FOBSJL*OWFTUPS#BHJ&OFSHJ1BOBT #VNJ 16 sajian utama %VOJB)BEBQJ,SJTJT&OFSHJ(MPCBM 24 beranda 1FNFSJOUBI6TVOH1FOHFMPMBBO&OFSHJ #FSCBTJT1FSNJOUBBO 26 sosok ,FQBMB#BEBO(FPMPHJ,FNFOUFSJBO &OFSHJEBO4VNCFS%BZB.JOFSBM ,&4%.%S*S34VLIZBS i1FNBIBNBO.BTZBSBLBU5FSIBEBQ 1FODFHBIBO%BO1FOBOHBOBO#FODBOB )BSVT%JUJOHLBULBOw 30 profil unit #BEBO(FPMPHJ,FNFOUFSJBO&OFSHJ %BO4VNCFS%BZB.JOFSBM 32 energi mix ,JMBV4BOH4VSZB t %JLMBU5FLOJT1FOHIFNBUBO&OFSHJ EBO"JS 65 BALITBANG t -FQBT4BNCVU,FQBMB1VTMJUCBOH UFL.*3" 66 teknologi t QFSBOBO(&0'J4J,"EBMBN &,41-03"4J.J/:",#6.JEBO .J/&3"-68 lingkungan t #JKBL.FOJLNBUJ"JS 70 potensi t4FUSVN%BSJ-BVU 72 keselamatan t,FTFMBNBUBO%J1FSUBNCBOHBO 74 GLOSSARY t1PUFOTJ1BOBT#VNJ%J4VNBUFSB #BSBU t1FNBOGBBUBO1-5#*0."44" t.FOEPSPOH*OWFTUBTJ%FOHBO ,FOBJLBO5BSJG-JTUSJL1BOBT#VNJ t1PUFOTJ&OFSHJ:BOH#FMVN5FSHBSBQ 56 BADAN GEOLOGI t 8BTQBEB 4UBUVT%VB(VOVOH"QJ +BUJN t 8PSLTIPQ1FSBO(FPMPHJ6OUVL ,FTFIBUBO.BTZBSBLBU t -POHTPS#JTB4FCBCLBO#BOKJS #BOEBOH t *OEPOFTJB,FLVSBOHBO1FNBOUBV -POHTPS t5JUJL3BXBO-POHTPS%J 4VNFEBOH
63 pendidikan & pelatihan
t ,FUFSCVLBBO*OGPSNBTJ1VCMJL t %JLMBU%SJMMJOH0òTIPSF t %JLMBU5FLOJT&WBMVBTJ'FBTTJCJMJUZ 4UVEZ1-5.) t 5JOHLBU.VUV1FMBZBOBO5JEBL 5FSQFOVIJ 1-/8BKJC.FNCFSJLBO 1FOHVSBOHBO5BHJIBO t 4VCTJEJ-JTUSJL)BSVT%JUFLBO 48 MINERBA t #JNCJOHBO5FLOJT3FLMBNBTJEBO1BTDB 5BNCBOH t 1FOHVNVNBO$$5BIBQ,F7 3FLPOTJMJBTJ*61 50 EBT t 5JOHLBULBO%BZB4BJOH/BTJPOBM %FOHBO)FNBU&OFSHJ t 1FOHFNCBOHBO&OFSHJ#BSV 5FSCBSVLBO t .FOEPSPOH%J5BOBI"JS t 1FNCBOHLJU-JTUSJL(FMPNCBOH-BVU t *OWFTUBTJ1FOHFNCBOHBO t .FNCBOHVO1FNCBOHLJU-JTUSJL #JPNBTTB t 1PUFOTJ.FOKBEJ/FHBSB/FUU*NQPSUJS &OFSHJ t1FOHHVOBBO3SPWJOTJ+BXB 5FOHBI 3 editorial 6 surat anda 8 kolom t 1FOHFMPMBBO&OFSHJ:BOH#FSLFBEJMBO t .FOHFOBM(BT#VNJ 12 lensa t #VLB1VBTB%J-JOHLVOHBO ,FNFOUFSJBO&4%. 34 wacana 1FOHFNCBOHBO&OFSHJ3FOEBI&NJTJ 6OUVL.JUJHBTJ1FSVCBIBO*LMJN(MPCBM 36 regulasi 1FSBUVSBO.FOUFSJ&4%./P5BIVO 37 MIGAS t (BT1SJPSJUBT%PNFTUJL #BSV<QPS t 1FOBOEBUBOHBOBO,,4*OWFTUBTJ #JEBOH)VMV.JHBT t 1FNFSJOUBI1FSDFQBU5FOEFS8, .JHBT t 1FOFSJNBBO&4%.5BIVO %JQFSLJSBLBO3Q5SJMJVO t 4PTJBMJTBTJ1FNCBUBTBO##. #FSTVCTJEJ5FSVT%JMBLVLBO t*OEPOFTJB+FQBOH+BKBLJ,FSKBTBNB 4FLUPS&OFSHJ t 41#6+BXB#BMJ4FEJB1FSUBNBY t )BSHB.JOZBL5VSVO )BSHB##. "NBO t 5BL"EB4VCTJEJ-JTUSJLVOUVL.BM 5BIVO%FQBO 44 LPE t .FOUFSJ&4%.3FTNJLBO1-561BJUPO 6OJU t .FOHFOBM-FCJI%FLBU1-561BJUPO t %JSKFO,FUFOBHBMJTUSJLBO.FNCVLB 4FNJOBS$MFBO$PBM5FDIOPMPHZ t)FNBU-JTUSJL%JNVMBJEBSJ,JUB t $BSB1FOHIFNBUBO-JTUSJLEJ(FEVOH
16
56
72
J&%":"$D"4"+$L&0:0,.$J&'&+1&#."+$6+&#,.$4"+$
7<'(&#$8"*"$9.+&#":$MJ6789N$
8#=$C#=$@=$7<-/*"#$
$
F!&'"/"'"+$9"5*"#"-"1$
3&#/"4"%$!&+)&,"/"+$8"+$
!&+"+,"+"+$D&+)"+"$E"#<5$
8.1.+,-"1-"+G
)
%*$!*$+
!
"*"$.+,.+$'&+)0("$
'&+&#"%-"+$
%&'("+,-.1$:.51#.-$
1&+","$'.-#0$/.4#0$
.+.$4.$A.:"*"/$1&'%"1$
1.+,,":$-"'.=$9<+,-.+$
5"*"$(.5"$'&+4"%"1-"+$
5&,":"$.+?0#'"5.$*"+,$
(&#-".1"+$4&+,"+$.+51":"5.$
%&'("+,-.1$:.51#.-$1&+","$
'.-#0$/.4#0$1&(<1=$
;1"5$%&#/"1."++*"$5"*"$
<)"%-"+$1&#.'"$-"5./=$
D<4.$9"#10+0$B$7<:"A&5.
!"#"$%!&'(%)"*+,-,%.+/0%
12*(3"%$"4(/%"+"4%#2*+"-5""-%
5"-6%'($(*(3$"-%$2#"'"%$"3(7%
8-+&$%32-62+"/&(%92*9"6"(%
3":"3%(-;,*3"4(%+2-+"-6%
+2$-,<,6(%5"-6%92*$"(+"-%
#239"-6$(+%<(4+*($%+2-"6"%
3($*,%/('*,%9(4"%32-6&-=&-6(%
>294(+2%/++#?@@>>>729+$2724'37
6,7('@7%A"-%42<"-=&+-5"%&-+&$%
(-;,*3"4(%5"-6%<29(/%'2+(<%"$"-%
$"3(%92*(+"/&$"-%<29(/%<"-=&+7%
12*(3"%$"4(/7%%
B"<"3%*2'"$4(
!"#$%&'()*+
,)-*.)(+/)(.0+
1)2.0
!
"*"$.+,.+$
'&+"+*"-"+$$"%"$
5">"$"505."5.$"1"<$
0#,"+.5"5.$4.(.4"+,$
%"'("+,"+$("1<("#"$
5"$5*"#"1$<+1<-$
'&+>"4.$"+,,01"+*"=$
3&#.'"$J"5./=
O05.$J<#+."$B$!":&'("+,
!#$%.,4(%C&*-("%.+/0%
12*(3"%$"4(/%"+"4%#2*+"-5""-%
5"-6%'($(*(3$"-%$2#"'"%$"3(7%%
A(%9('"-6%#2*+"39"-6"-%
9"+&9"*"%+2*'"#"+%9292*"#"%
"4,4("4(0%'("-+"*"-5"%
DEFGH)D8IJI%JGKH%
DEF1J)!JILJI%HIAMIEBHJ%
NDEFGJDHO0%%HIAMIEBHJ%PMJK%
BMPHE1.%NHPBO0%JBMBHJBH%
DEF1J)!JILJI%!J18!JFJ%
HIAMIEBHJ%NJD!HO0%JBMBHJBH%
DEF1J)!JILJI%HIAMIEBHJ%
NH)JO7%A"-%&-+&$%32-="'(%
"-66,+"-5"0%9(4"%32-6/&9&-6(%
4"<"/%4"+&%'"*(%,*6"-(4"4(%
+2*429&+7%
B"<"3%*2'"$4(
3-0-)%-)+
!".*%#$%&'%&+
4&20&"-)%
!
"*"$'&'&#:<-"+$
.+?0#'"5.$'&+,&+".$
%&1"$'.,"5=$
C+?0#'"5.$1&(<1$5"*"$
(<1</-"+$<+1<-$%&+<:.5"+$
'"-":"/$*"+,$5&4"+,$5"*"$
5<5<+=$;1"5$%&#/"1."++*"$
5"*"$<)"%-"+$1&#.'"$
-"5./=$$
8.'"5$J<#+."
P&,&#$Q$R"-"#1"$3.'<#
!"#"$%A(3"4%C&*-("%.+/
12*(3"%$"4(/%"+"4%
#2*+"-5""--5"%5"-6%'("=&$"-7%
8-+&$%32-62+"/&(%(-;,*3"4(%
5"-6%!"#"$%%9&+&/$"-0%
9(4"%32-6/&9&-6(%F&"-6%
D2<"5"-"-%H-Q24+"4(%)(6"4%
12*#"'&0L2'&-6%D<"R"%P2-+*(4%
K"-+"(%S7%T<%GF%F"4&-"%B"('%
C"Q7%!UV%T"$"*+"%B2<"+"-%"+"&%
32-6"$424%(-;,*3"4(%+2*429&+%
32<"<&(%>>>73(6"4724'376,7('%
%
%
B"<"3%*2'"$4(
4&50.#%-)+
!"*%+/)'%-
"
"'.$.+,.+$
'&+,&1"/<.$5*"#"1$
<+1<-$'&+,<#<5$
7<#"1$CS.+$T".-$H%&#"5.$
M7CTHN$C+51":"5.$!&'(0#"+$
M@.,N=$$
90/0+$4"%"1$4.(&#.-"+$
.+?0#'"5.+*"=$3&#.'"$
-"5./=$
7<%#.*"+10$Q$D":.-%"%"+
!"#"$%B&#*(5"-+,%.+/
12*(3"%$"4(/%"+"4%
#2*+"-5""--5"%5"-6%'("=&$"-7%
8-+&$%32-62+"/&(%(-;,*3"4(%
5"-6%!"#"$%%9&+&/$"-0%
9(4"%32-6/&9&-6(%F&"-6%
D2<"5"-"-%H-Q24+"4(%)(6"4%
12*#"'&0L2'&-6%D<"R"%P2-+*(4%
K"-+"(%S7%T<%GF%F"4&-"%B"('%
C"Q7%!UV%T"$"*+"%B2<"+"-7%
%
%
%
%
B"<"3%*2'"$4(
/"&'6.6-+
7)80
!
"*"$.+,.+$
'&+,&1"/<.$"%"$
*"+,$4.'"-5<4$
4&+,"+$(.0&+&#,.=$;1"5$
%&#/"1."++*"$5"*"$
<)"%-"+$1&#.'"$-"5./=$
C#'"$O<:."+.$Q$D"+4"#$
T"'%<+,
H9&%H*3"%.&<("-(%.+/
12*(3"%$"4(/%"+"4%
#2*+"-5""--5"%5"-6%'("=&$"-7%
!(,2-2*6(%%"'"<"/%%2-2*6(%
5"-6%92*"4"<%N'(9"-6$(+$"-O%
'"*(%9(,3"44"%9"/"-U9"/"-%
,*6"-($%92*U&3&*%*2<"+(;%3&'"%
'"-%92*"4"<%'"*(%+&39&/"-@
/2>"-0%#*,'&$%'"-%<(39"/%
(-'&4+*(%9&'('"5"%N#2*+"-("-0%
#2*$29&-"-0%$2/&+"-"-0%
#2+2*-"$"-0%#2*($"-"-O7%J-'"%
=&6"%(-;,*3"4(%+2*429&+%32<"<&(%
>>>729+$2724'376,7('%
B"<"3%*2'"$4(
94:;<;=>4
!
"*"$.+,.+$
'&+,&1"/<.$
.+?0#'"5.$
PHQJHQDLVSHVLȴNDVL
'.+*"-$%&:<'"5=$;1"5$
%&#/"1."++*"$5"*"$
<)"%-"+$1&#.'"$-"5./=$$
@"/'"1$B$D"+1&+
!"#"$%F"/3"+%.+/
12*(3"%$"4(/%"+"4%
#2*+"-5""--5"%5"-6%'("=&$"-7%
H-;,*3"4(%+2*429&+%'"#"+%'(<(/"+%
'2-6"-%32-6"$424%%%>>>7
3(6"4724'376,7('7%A(4"-"%
WHUGDSDWVSHVLȴNDVLPLQ\DN
#2<&3"4%&-+&$%3,+,*%92-4(-%
'"-%3,+,*%'(242<7%
B"<"3%*2'"$4(
6SHVLȴNDVL
/)&?%(+
!"86#%-+
,&'$-.!/0')'
@"#"&*".)%&+;&".')+2%&+76#$".+A%?%+/)&".%8 R:=$9&4"+$9&-"$7&:"1"+$U0=VW R"-"#1"$VXVVX2$3#0'0:$!05$Y$VZ[[IRJ3$VXXVZ 3&:=$I$\"-5=$MX]VN$Z[[$X^[_ &'".:=$%<(:.-"5.`&54'=,0=.4 a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b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ȴNDVL DD9$4":"'$-<#<+$A"-1<$1&(<1$"1"<$ '"'%<-"/$("+,5"$.+.$'&'%&#%"+>"+,$ <'<#$%&'"-"."+$&+&#,.2$'&:":<.$ %#0,#"'B%#0,#"'$/&'"1$&+&#,.$4"+$ %&+,&'("+,"+$&+&#,.$("#<$4"+$ 1&#("#<-"+$*"+,$1&+1<+*"$/"#<5$4.'<:".$ 4"#.$5&-"#"+,=
!&#"+"+$("/"+$("-"#$'.+*"-$MDD9N$5&(",".$
5":"/$5"1<$5<'(&#$&+&#,.$5"+,"1$%&+$1.+,$4":"'$
'&A<><4-"+$%&'("+,<+"+$+"5.0+":$(&#-&:"+><1B
"+=$J&1"/"+"+$&+&#,.$%<+$'&#<%"-"+$4"5"#$4"#.$
-&1"/"+"+$+"5.0+":$*"+,$'&:.%<1.$-&1"/"+"+$
&-0+0'.2$(<$$4"*"2$505.":$4"+$%"/"+"+=
D&:<'$:",.$%&#/"1."+$4<+."$1&+1"+,$ '"5":"/$:.+,-<+,"+=$7""1$.+.$%&+,,<+""+$ ("/"+$("-"#$+"("1.$MDDUN$*"+,$#"'"/$ :.+,-<+,"+$(&:<'$(.5"$(&#-0+1#.(<5.$ 1&#/"4"%$-&(<1</"+$"-"+$&+&#,.$<+1<-$ '&+,<#"+,.$-0+5<'5.$&+&#,.$DD9= $ J&1.,"2$%&#'"5":"/"+$&+&#,.$+"5.0+":$ >"+,-"$%&+4&-$4"+$'&+&+,"/$"4":"/$ -&(&#,"+1<+,"+$%"4"$&+&#,.$?05.:$*"+,$ '"5./$(&5"#=$9"5./$#&+4"/+*"$:"+,-"/$ "-5.$*"+,$:&(./$+*"1"$4"+$-0+-#&1$<+1<-$ '&+,&'("+,-"+$&+&#,.$+0+$?05.:$*"+,$ 1&#("#<-"+= $ c.5.$]dI]d2$*"+,$4.)"+"+,-"+$0:&/$ %&'&#.+1"/2$*".1<$%"4"$]X]d$&+&#,.$+0+$ ?05.:$(&#-0+1#.(<5.$5&(&5"#$]de$"1"<$VZ$ 1"/<+$4"#.$5&-"#"+,$4./"#"%-"+$&+&#,.$ +0+$?05.:$1&(<1$(&#%&#"+$"4":"/$A"-1<$ *"+,$1.4"-$%"+>"+,= $ !."%"+$4"+$%&#&+)"+""+$4&+,"+$ 4..-<1.$:"+,-"/$"-5.$*"+,$-0+5.51&+$/"#<5$ 5&,&#"$4.:"-5"+"-"+= J&&'%"12$/"'("1"+$"-"+$%<'(</"+$ &-0+0'.$*"+,$4.5&("(-"+$/"#,"$%"5"#$ 4<+."$DD9$+".-$5&'&+1"#"$%"10-"+$ 4":"'$;!DU$:&(./$#&+4"/2$5&/.+,,"$ "%"(.:"$1.4"-$"4"$:"+,-"/$*"+,$)&%"1$ 4"%"1$'&+,-.("1-"+$"-1.f.1"5$&-0+0'.$ '&+<#<+= $ E":$.+.$'&+<+><--"+$-&1"/"+"+$&+&#,.$ +"5.0+":$'"5./$#&+4"/2$(&,.1<$'<4"/+*"$ -0+4.5.$&+&#,.$-.1"$,0*"/$5""1$/"#,"$%"5"#$ 4<+."$DD9$+".-= $ J&:.'"2$)"4"+,"+$&+&#,.$*"+,$'&+.%.5=$ J&&+"'2$/"#,"$DD9$*"+,$1.4"-$'&+)"%".$ -&&-0+0'."++*"2$*".1<$/"#,"$><":$:&(./$ #&+4"/$4.("+4.+,-"+$4&+,"+$/"#,"$ %#04<-5.2$5&/.+,,"$4.%&#:<-"+$5<(5.4.$ *"+,$(&5"#= $ 1%.'%+?%&'+9".$"2% R.-"$-.1"$'&'%&#/"1.-"+$5":"/$5"1<$"S"5$!"#$"%&%''#
(
#$#%&'
(
)'#$(
(#%"#)*'+)$
',-.&-/01,-*+,"-./,(0"#$-'1+'#(
2#",$+(3#+4",5+.'5(6#7&#"5+'
1%(%/
J.1"$5&'<"$#"1"B#"1"$5<4"/$'&+,&+":$(".-$(&#(",".$>&+.5$$,"5$(<'.=$L"5$(<'.$"4":"/$/"5.:$
%#05&5$":"'.$4":"'$(&+1<-$/.4#0-"#(0+$*"+,$4":"'$-0+4.5.$1&-"+"+$4"+$1&'%&#"1<#$
"1'05?&#$(&#<%"$?"5"$,"5$*"+,$4.%�:&/$4"#.$/"5.:$%&+"'("+,"+$'.+*"-$4"+$,"5$(<'.=$L"5$
(<'.$4"%"1$4.0:"/$'&+>"4.$(&##(",".$%#04<-$,"52$5&5<".$4&+,"+$-&%&+1.+,"++*"$"+1"#"$:".+$$,"5$
EXPLDODP\DQJGLVDOXUNDQPHODOXLSLSD/1*/LTXHȴHG1DWXUDO*DV/3*/LTXȴHG
!&1#0:&<'$L"5$$4"+$PUL$MP0'%#&55&4$U"1<#":$L"5N$*"+,$5&#.+,$4.5&(<1$%<:"$DDL$MD"/"+$
D"-"#$L"5N=
"5$ %.%"$ '&#<%"-"+$ ,"5$ (<'.$ *"+,$ :"+,5<+,$ 4.":.#-"+$ 4"#.$ 4"#.$ :"%"+,"+$ ,"5$ 5&1&:"/$ %#05&5$ %&'<#+."+$ <+1<-$ 4.,<+"-"+$ 5&(",".$ ("/"+$ ("-"#$ #<'"/$ 1"+,,"$ $ '"<%<+$ ("/"+$ ("-<$.+4<51#.=/1* OLTXHȴHG QDWXUDO JDV DGDODK JDV '&1"+"$ 4&+,"+$ -0'%05.5.$ _Xe$ '&1"+"$ MPE[N$ *"+,$ 4.)".#-"+$ %"4"$ 1&-"+"+$ "1'05?&#.-$4"+$5</<$BV^Z$4&#">"1$P&:).<5=$ 7&(&:<'$ %#05&5$ %&+)".#"+2$ ,"5$ /"#<5$ '&+>":"+.$ %#05&5$ %&'<#+."+$ 1&#:&(./$ 4"/<:<$<+1<-$'&+,/.:"+,-"+$-"+4<+,"+$ 5&+*"A"$ *"+,$ 1.4"-$ 4./"#"%-"+$ 5&%&#.$ PH]2$E]72$E,2$E]H$4"+$/.4#0-"#(0+$(&#"1= !#05&5$ 1&(<1$ "-"+$ '&+,<#"+,.$ f0:<'&$ ,"5$ '&+>"4.$ :&(./$ -&).:$ ^XX$ -":.=$ !&+*<5<1"+$ .+.$ '&'(<"1$ TUL$ '<4"/$ 4.1#"+5%0#1"5.-"+$4"+$4":"'$><':"/$*"+,$ :&(./$ ("+*"-=$ TUL$ 4.1#"+5%0#1"5.-"+$ '&:":<.$-"%":B-"%":$-&$1&#'.+":B1&#'.+":$ TUL$ 4"+$ 4.5.'%"+$ 4.$ 1"+,-.$ 4&+,"+$ 1&-"+"+$ "1'05?&#.-=$ J&'<4."+$ TUL$ 4.-0+f.$ -&'(":.$ '&+>"4.$ ,"5$ 4"+$ 4.5":<#-"+$'&:":<.$5.51&'$1#"+5'.5.$(".-$ <+1<-$$-&%&#:<"+$#<'"/$1"+,,"$'"<%<+$ .+4<51#.= /3* OLTXHȴHG SHWUROHXP JDV DWDX ,"5$ (<'.$ *"+,$ 4.)".#-"+$ 4&+,"+$ -0'%0+&+$ <1"'"$ %#0%"+"$ MPZEWN$ 4"+$ (<1"+"$ MP[EVXN=$ 9&+<#<1$ >&+.5+*"2$ T!L$ 4.-&:0'%0--"+$ '&+>"4.$ T!L$ %#0%"+"2$ T!L$(<1"+"$4"+$T!L$)"'%<#"+$M'.gN$*"+,$ '&#<%"-"+$ )"'%<#"+$ 4"#.$ -&4<"$ >&+.5$ T!L$1&(<1=$T!L$4"%"1$4"#.$%&+*<:.+,"+$ '.+*"-$'&+1"/$"1"<$4"#.$-0+4&+5"5.$,"5$ (<'.$4":"'$-.:"+,$%&+,0:"/"+$,"5$(<'.= !&+)".#"+$ ,"5$ (<'.$ '&+>"4.$ T!L$ 4.'"-5<4-"+$ <+1<-$ '&'&)"/-"+$ '"5":"/$ %&+,"+,-<1"+$ -&$ -0+5<'&+$ -"#&+"$f0:<'&$T!L$>"</$:&(./$-&).:$4"#.$ f0:<'&$ ,"5+*"=$ a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f&510#$:<"#$+&,&#.= $ E"#,"$DD9$*"+,$5"'"$4.$5&:<#</$ C+40+&5."$(<-"+$'&+<+><--"+$ %&+,&:0:""+$DD9$*"+,$(&#-&"4.:"+$1"%.$ ><51#<$4"%"1$'&+,"-.("1-"+$-&5&+>"+,"+$ &-0+0'.=$!"#"$.+f&510#$"-"+$:&(./$ +*"'"+$'&'("+,<+$.+4<51#.+*"$4.$ R"A"$-"#&+"$.+?#"51#<-1<#$*"+,$:&(./$ :&+,-"%$4&+,"+$/"#,"$DD9$*"+,$5"'"$ 4.("+4.+,-"+$4&+,"+$:<"#$!<:"<$R"A"= $ a+1<-$'&+"#.-$.+f&510#$1&(<1$-&$ T<"#$!<:"<$R"A"2$'"-"$/"#<5$4.("+,<+$ 4"*"$5".+,$4.$:<"#$A.:"*"/$!<:"<$R"A"$ ","#$%"#"$.+f&510#$'"<$'&+"+"'-"+$ .+f&51"5.+*"2$5&:".+$5<'(&#$4"*"$ '"+<5."$*"+,$:&(./$'<#"/$><,"$4.$ "+1"#"+*"$4&+,"+$/"#,"$DD9$*"+,$:&(./$ '<#"/$4.("+4.+,-"+$4&+,"+$!<:"<$ R"A"2$5&/.+,,"$A.:"*"/$1&(<1$4"%"1$ (&#-&'("+,$4"+$5<"1<$5""1$/"#,"$DD9B +*"$"-"+$'&+)"%".$+.:".$-&&-0+0'."+= $ a+1<-$'&+*&:&5".-"+$%&#'"5":"/"+$ 1&(<1$(<-"+$/":$*"+,$'<4"/$4"+$ T!L$ /"#<5$ 4.5.'%"+$ 4":"'$ 1"+,-.$ (&-"+"+$M%#&55<#.S&4$1"+-N=$D&(&#"%"$ >&+.5$%#05&5$*"+,$4"%"1$4.,<+"-"+$<+1<-$ '&+,0:"/$ ,"5$ (<'.$ 5&/.+,,"$ 4.%�:&/$ %#04<-$ T!L2$ "+1"#"$ :".+$ %#05&5$ "(50#%5.$ 4"+$-#.0,&+.-=
PUL$ M)0'%#&55&4$ +"1<#":$ ,"5N$ "4":"/$ ,"5$ (<'.$ *"+,$ 4.%"'%"1-"+$ %"4"$ 1&-"+"+$ 1.+,,.$ 5&/.+,,"$ f0:<'&+*"$ '&+>"4.$ 5&-.1"#$ VI]dX$ 4"#.$ f0:<'&$ ,"5$ (<'.$ %"4"$ -&"4""+$ 51"+4"#=$ 3<><"+$ %&'"'%"1"+$ ,"5$ (<'.$ "4":"/$ ","#$ 4"%"1$ 4.%�:&/$ :&(./$ ("+*"-$ ,"5$ *"+,$ 4"%"1$ 4.1#"+5%0#1"5.-"+$ %&#$ 5"1<"+$
Q,<&32% Q2442<=$ 3&-"+"+$ %&'"'%"1"+$
PUL$ (.5"$ '&+)"%".$ ]dX$ ("#$ %"4"$ 5</<$ "1'05?&#.-=$ J0'%05.5.$ ,"5$ (<'.$ *"+,$ "-"+$ 4.-.#.'$ -&$ -0+5<'&+$ '&:":<.$ PUL$ KDUXV VXGDK PHPHQXKL VSHVLȴNDVL JDV -0'.":$ 5&%.$ ("1"5"+$ '"-5.'<'$ -"+4<+,"+$ ".#2$ PH]$ 4"+$ /.4#0-"#(0+$ (&#"1=$ 7&:".+$ .1<2$ %&+*.'%"+"+$ ,"5$ %"4"$
8"#$"#'%(&-2.(341
1&-"+"+$*"+,$5"+,"1$1.+,,.$'&+5*"#"1-"+$ ("1"5"+$ *"+,$ -&1"1$ 1&#/"4"%$ -"+4<+,"+$ ".#$4"+$/.4#0-"#(0+$(&#<+1<-$'&+)&,"/$ 1&#>"4.+*"$-0+4&+5"5.$4"+$%&'(&+1<-"+$ /.4#"1= $ 7&%.$ /":+*"$ %&+,"+,-<1"+$ ,"5$ (<'.$ 4":"'$ (&+1<-$ TUL2$ %&+,"+,-<1"+$ ,"5$ (<'.$4":"'$(&+1<-$PUL$><,"$'&'&#:<-"+$ ?"5.:.1"5$ %&+,.#.'"+$ 4"+$ %&+&#.'""+=$ 7"'%".$5""1$.+.2$%&+,"+,-<1"+$PUL$*"+,$ 4.:"-<-"+$ ("#<$ '&+,,<+"-"+$ 1#".:&#=$ !#05&5$ 1#"+5%0#1"5.$ ,"5$ (<'.$ 4":"'$ (&+1<-$PUL$'&'&#:<-"+$Z$>&+.5$?"5.:.1"5$ *".1<$ ?"5.:.1"5$ %&+,.#.'"+$ N3,+/2*% 4+"+(,-O0$?"5.:.1"5$1#"+5%0#1"5.$$4"+$?"5.:.1"5$ %&+&#.'""+$N'"&6/+2*%4+"+(,-O7J&1.,"$ >&+.5$ ,"5$ .+.$ 5"+,"1$ '&'&#:<-"+$ 5"#"+"$.+?#"51#<-1<#$$*"+,$5"+,"1$(&#(&4"$ NDUHQDVLIDW\DQJVSHVLȴ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ȴV,QGRQHVLD\DQJ 1.#.$4"#.$%<:"<B%<:"<$(&5"#$'"<%<+$ -&).:$4&+,"+$:<"5$5&-.1"#$V2_]$><1"$-']2$ 4.$'"+"$-&(<1</"+$&+&#,.+*"$1.4"-$ '&#"1"$4"+$1&("#= $ .HWLJDNRQGLVLGHPRJUDȴVGLPDQD 5&-.1"#$[Xe$%&+4<4<-$C+40+&5."$1.+,,":$ 1&("#$4.$:<"#$%<:"<$R"A"B9"4<#"B D":.$4&+,"+$-&%"4"1"+$%&+4<4<-$ *"+,$#&+4"/=$J0+4.5.$.+.$'&#<%"-"+$ 1"+1"+,"+$(",.$5"#"+"$4"+$%#"5"#"+"$ %&+*&4.""+$&+&#,.$*"+,$&-0+0'.5$4"+$ Hȴ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f&+5.0+":$MDD9N$1&(<1$1&+1<+*"$ '&'%&+,"#</.$%&+,&'("+,"+$&+&#,.$ ("#<$4"+$1&#("#<-"+= $ J&1<></2$%&'"+?""1"+$&+&#,.$'"5./$ EHOXPHȴVLHQGHQJDQDQJNDLQWHQVLWDV 4"+$&:"51.5.1"5$&+&#,.$'"5./$1.+,,.=$E":$ 1&(<1$.#0+.5$*".1<$("/A"$-0+5<'5.$ &+&#,.$C+40+&5."$4.("+4.+,-"+$ 4&+,"+$+&,"#"$:".+$("/-"+$+&,"#"$ 1&1"+,,"$;5&"+$1&#'"5<-$#&+4"/2$1"%.$ .+1&+5.1"5$&+&#,.$*"+,$4.(<1</-"+$<+1<-$ '&+,/"5.:-"+$5<"1<$%#04<-$1.+,,.$":."5$ (0#05$&+&#,.= $ a+1<-$'&+,/"4"%.$-0+4.5.$1&(<1$4.$ "1"52$4.%&#:<-"+$-&(.>"-"+$&+&#,.$*"+,$ (&#:"+4"5-"+$-0+5&%$-&5.+"'(<+,"+2$ NHOD\DNDQȴQDQVLDOVHUWDGDPSDNGDQ %&+,"#</$-&/.4<%"+$505.":$&-0+0'.$ '"5*"#"-"1$*"+,$%05.1.?=$a%"*"$4.'"-5<4$ "-"+$1&%"1$5"5"#"+$4"+$1&#"#"/$"%"(.:"$ 4"%"1$4.-&1"/<.$,"'("#"+$*"+,$<1</$ '&+,&+".$-&(.>"-"+$&+&#,.$5&:"'"$.+.$ (<-"+$5&'"1"$4.$"1"5$-"5=
E"#,"$
DD9$*"+,$
5"'"$4.$5&:<#</$
C+40+&5."$(<-"+$
'&+<+><--"+$
%&+,&:0:""+$DD9$
*"+,$(&#-&"4.:"+$
1"%.$><51#<$4"%"1$
'&+,"-.("1-"+$
-&5&+>"+,"+$
&-0+0'.=
image : istimewa image : istimewa1%(%/
9/-'(0/'5'(
*+(:+#$-/#$'#(
"545065/1-0.#!*7.
D&(&#"%"$A"-1<$*"+,$:":<$4.:"-5"+"-"+$(<-"$
%<"5"$4.$:.+,-<+,"+$J&'&+1&#."+$6789$*"+,$
4./"4.#.$0:&/$9&+1&#.$6789$R�$h").-$5"$
4.4"'%.+,.$h"'&+$6789$@<4.$@<(."+4.+.$4"+$
%"#"$%&>"("1$&5&:0+$C$4"+$CC=$$
)
)"#"$ #<1.+$ 1"/<+"+$ *"+,$ -":.$ .+.$ (&'"$ G9&:":<.$ 7&'"+,"1$ @"'"4/"+2$ J.1"$ 3.+,-"1-"+$ C'"+2$ 3"-A"$4"+$D<4"*"$E&'"1$6+&#,.G$(<><"+$<+1<-$ '&+.+,-"1-"+$ 1":.$ 5.:"1<#"/'.$ 5"$ '&'%&#&#"1$ -&("'""+$4.$"+1"#"$5&-10#$6789=$ ;)"#"$-":.$.+.$5&:".+$(<-"$%<"5"$><,"$4..5.$4&+,"+$5/0:"1$'",#.(2$ .5*"$4"+$1"#"A&/$(&#>"'""/=$7&:".+$.1<$><,"$4.:"-<-"+$%&'(&#."+$ 5"+1<+"+$-&%"4"$Z^X$"+"-$*"1.'$%."1<$5"$'&+*.'"-$$5.#"'"+$ #0/"+.$4"#.$a51"4$;+A"#$7"+<5.=$ 8":"'$1"<S."/+*"$a51"4$;+A"#$7"+<5.$'&+,"1"-"+$>.-"$(<:"+$ #"'"4/"+$ '&#<%"-"+$ (<:"+$ %
("1"+=$ ;%"(.:"$ '"+<5."$ (
("1$ 4&+,"+$ 5&%&+</$ /"1.2$ '"-"$ ;::"/$ "-"+$ '&'""?-"+$8
E"#.$.+.2$-.1"$'&'%&#.+,"1.$/"#.$!#0-:"'"5.$Vi$;,<51<52$ /"#.$ .+.$ "4":"/$ /"#.$ *"+,$ (&>"#"/2$ 1<,"5$ -.1"$ "4":"/$ '&+,.5.$ -&'&-""+$ .1<2$ 5":"/$ 5"1<$ 1<,"5$ <1"'"$ -.1"$ 4":"'$'&+,.5.$-&'&-""+$"4":"/$'&A<><4-"+$&+&#,.$ 4"+$5<'(&#$4"*"$'.+&#":$<+1<-$-&5&>"/1&#""+$#"-*"1G2$;"%/',$'(9"5',(;"<"#.",+'#(2=*8(
75495/10:-61.;<=.%'."5.>?
8":"'$'&'%&#.+,"1.$/"#.$-&'&-""+$@&%<(:.-$C+40+&5."2$-&:<"#,"$(&5"#$J&'&+1&#."+$
6789$4&+,"+$4.%.'%.+$0:&/$9&+1&#.$6789$R�$h").-$'&+*&:&+,,"#"-"+$<%")"#"$
(&+4&#"$MViIXWI]XV]N=
<>"#$9&+1&#.$6+&#,.$8"+$7<'(&#$8"*"$9.+&#":$5&:"-<$!&'(.+"$ a%")"#"$Ea3$J&'&-""+$@C$-&B^i=$ 9&+1&#.$'&'.+1"$-&%"4"$5&'<"$>">"#"+$J&'&+1&#."+$6789$4"+$ 5&-10#$ 6789$ <+1<-$ ("1<$ %"4<2$ (.+&#,.$ 4"+$ '&+,/.+4"#.$ %&+1"+,"+$<+1<-$'&+4"%"1-"+$/"5.:$*"+,$0%1.'":=$D&:."<$%<+$ '&+,"1"-"+$ >.-"$ '0'&+1<'$ /"#.$ <:"+,$ 1"/<+$ !#0-:"'"5.$ .+.$ 4.>"4.-"+$1.1.-$10+,,"-$<+1<-$'<:".$("1<$4"+$:&(./$(.+&#,.$ 5&/.+,,"$1.4"-$(0:&/$"4"$%&+1"+,"+B%&+1"+,"+$*"+,$1.4"-$ %&#:<$4."+1"#"$>">"#"+$4.$6789=$D"'""+$ 4&+,"+$ %&#.+,"1"+$ Ea3$ J&'&-""+$ @&%<(:.-$ C+40+&5."$-&B^i2$"1"5$+"'"$!#&5.4&+$@&%<(:.-$C+40+&5."2$9&+1&#.$ 6789$ R�$ h").-$ '&+*&'"1-"+$ 3"+4"$ J&/0#'"1"+$ 7"1*"$ T"+)"+"$ !&'("+,<+"+$ M[$ 0#"+,N2$ 7"1*"$ T"+)"+"$ h.#"$ J"#*"$ MV_$ 0#"+,N$ 4"+$ 7"1*"$ T"+)"+"$ J"#*"$ 7"1*"$ MZ_V$ 0#"+,N=$ 7&:".+$ .1<$ ><,"$ 4.(&#.-"+$ -&+".-"+$ %"+,-"1$ 1&#/.1<+,$ '<:".$ 1"+,,":$ V$ H-10(&#$ ]XV]$ 5&)"#"$ 5.'(0:.5$ -&%"4"$ _$ %&,"A".$ 4"#.$ VWZ$ %&,"A".$4.$:.+,-<+,"+$J6789=$!&+,/"#,""+$1&(<1$4.(&#.-"+$ "1"5$ %#&51"5.$ %&,"A".$ *"+,$ 1&:"/$ '&'(&#.-"+$ %&+,"(4."+$ 5"$ -0+1#.(<5.$ *"+,$ +*"1"$ 1&#/"4"%$ %&'("+,<+"+$ +"5.0+":2$ -&'"><"+$4"+$-.+&#>"$7&-10#$6789=$
5&,":"$ 405"$ 4.$ '"5"$ :":<=$ 3</"+$ 1.4"-$ '&'.:.-.$ -&%&+1.+,"+$ 1&#/"4"%$ '"+<5."=$ R.-"$ '"+<5."$ (&#(<"1$ (".-2$ '"-"$ /"5.:+*"$ "-"+$ 4.+.-'"1.$ 0:&/$ '"+<5."$ .1<$ 5&+4.#.=$ 7&(":.-+*"2$ >.-"$ (&#(<"1$>"/"12$'"-"$"-"+$'&'&1.-$/"5.:+*"$%<:"=$8"+$4.$"-/.#$ 1"<S."/+*"$ aS1"4$ ;+A"#$ 7"+<5.$ '&+,.+,"1-"+$ ","#$ <'"1$ '"+<5."$ '&+>"</.$ 5.?"1$ 4&+,-.$ "1"<$ 1.4"-$ 5&+"+,$ '&:./"1$ -&("/",.""+$"1"<$-&(&#/"5.:"+$0#"+,$:".+=
7&4"+,-"+$ 9&+1&#.$ 6789$ R�$ h").-$ '&+,<+,-"%-"+2$ 4.#.+*"$ 5&#.+,$ '&+,.-<1.$ )&#"'"/$ -&","'""+$ *"+,$ (<><"+$ <+1<-$ '&+,"'(.:$ /.-'"/$ "1"<$ %&:">"#"+$ <+1<-$ -&'<4."+$ 4.%&#,<+"-"+$ 4":"'$ '&+>":"+.$ -&/.4<%"+=$ G8":"'$ )&#"'"/$ *"+,$4.(&#.-"+$a51"4$;+A"#$7"+<5.2$5"*"$("+*"-$'&+4"%"1-"+$ j-<+1<'$'&:"1.j$*"+,$-":"<$-.1"$#">.+$'&:"-5"+"-"++*"2$'"-"$ "-"+$'<4"/$(",.$-.1"$'&+>":"+.$/.4<%2G$%<+,-"5$R�$h").-=$
)
,&+4"$ #<1.+$ 1"/<+"+$ *"+,$ 1&:"/$ '&'"5<-.$ 1"/<+$-&4<"(&:"5$$ .+.$ 4.:"-5"+"-"+$ <+1<-$ '&'("+1<$ %&,"A".B%&,"A".$ J&'&+1&#."+$ 6+&#,.$ 4"+$ 7<'(&#$ 8"*"$ 9.+&#":$ *"+,$ .+,.+$ '&+<><$ -"'%<+,$ /":"'"++*"$ <+1<-$ (&'<$ (.:"1<#"/'.$ 4&+,"+$ 5"+"-$ 5"<4"#"$ 5&-":.,<5$'&#"*"-"+$E"#.$#"*"$ C4<:$\.1#.$V[ZZE=$!"#"$%&'<4.-$ *"+,$(&#><':"/$VXVX$%&5"$.+.$ 4.:&%"5$-&(&#"+,-"1"++*"$0:&/$ 9&+1&#.$ 6+&#,.$ 4"+$ 7<'(&#$ 8"*"$9.+&#":2$R�$h").-=$F9<4.-$ ("'"$ J&:<"#,"$ D&5"#$ J&'&+1&#."+$ 6+&#,.$ 8"+$ 7<'(&#$ 8"*"$ 9.+&#":$ .+.$ '&#<%"-"+$ ")"#"$ *"+,$ (".-2$ 1"/<+$ .+.$ %&5"$ '<4.-$ '"5./$ 4.-&+"-"+$ (."*"$ 5&4.-.1$ <+1<-$ "4'.+.51#"5.2$1"/<+$4&%"+2$-"'.$'.+1"$5&:<#</$%&5"$'<4.-$ 4.,#"1.5-"+$ 4"+$ '04"$ 1#"+5%0#1"5.$ *"+,$ 4.,<+"-"+$ <+1<-$ '<4.-$ ("'"$ 5<4"/$ '&+,,<+"-"+$ ("/"+$ ("-"#$ ,"52G$
8/7+-(9",5'<'("5@3-/:-.(52-/.#!*7
J&'&+1&#."+$6789$(&-&#>"5"'"$4&+,"+$O"*"5"+$!"'("+,"+$8"+$6+&#,.$MO!6N$-&'(":.$
'&+,,&:"#$'<4.-$("'"=$
<>"#$ 9&+1&#.$ 6789$ 5&5""1$ 5&(&:<'$ '&:&%"5$ %&5"$ '<4.-$ ("'"$ J&:<"#,"$ D&5"#$ J&'&+1&#."+$ 6+&#,.$ 4"+$ 7<'(&#$ 8"*"$ 9.+&#":$ MViIWI]XV]N=9&+1&#.$ (&#%&5"+2$ F7&:"'"1$ %<:"+,$ '<4.-$ :&("#"+2$ /"1.B /"1.$ 4.>":"+2$ 5"*"$ (("$ '<4"/B'<4"/"+$ -.1"$ (&'<$-&'(":.G=$ FJ&'&+1&#."+$ 6789$ '&+*&4."-"+$][$(.5$4"#.$1.,"$ -01"$ MR"-"#1"2$ ("+4<+,$ 4"+$ P&%<N$ 4&+,"+$ 1<><"+$ R"A"$ 4"+$7<'"1&#"=$a+1<-$%&5"$ *"+,$ 4.(&#"+,-"1-"+$ 4"#.$ J"+10#$ !<5"1$ 4.(&#"+,-"1-"+$ iX]$ 0#"+,$ M][$ (<5N2$ ZXX$ 0#"+,$ 4.(&#"+,-"1-"+$4"#.$D"+4<+,$MV]$(<5N$4"+$W$0#"+,$MV$(<5N$4"#.$ P&%<2$101":$-&5&:<#</"+$%&5"$'<4.-$1"/<+$]XV]$.+.$5&("+*"-$ V=XVX$ 0#"+,2G$ .'(</$ 7&-#&1"#.5$ R&+4&#":$ J&'&+1&#."+$ 6+&#,.$ 8"+$7<'(&#$8"*"$9.+&#":2$h"#*0+0$J"#+0==$
8
!"4"$ /"#.$ .+.$ -"'.$ '&'"51.-"+$ ("/A"$ %&5."%"+$ 510-$ DD9$ .1<$ 5<4"/$ )<-<%$ (".-$ 4"+$ 5."%$ <+1<-$ '&:"*"+.$ '"5*"#"-"1$*"+,$'<4.-$:&("#"+2G$<>"#$R�$h").-=$ 8.1"'("/-"+$ 0:&/$ R�$ h").-$ 4":"'$ %."%"+$ DD9$ >&:"+,$ :&("#"+$ <+1<-$ 510-$ !#&'.<'$ 5&:<#</$ .+40+&5."$ )<-<%$ <+1<-$Vi$/"#.2$J.+$)<-<%$<+1<-$id$/"#.2$9.+*"-$70:"#$)<-<%$ <+1<-$ VW$ /"#.2$ !"'"g$ )<-<%$ <+1<-$ ^i$ /"#.2$ !"'"g$ %:<5$ )<-<%$<+1<-$^d$/"#.=$FJ&'<4."+$"f1<#$<+1<-$%&5"A"1$1&#("+,$ )<-<%$ <+1<-$ V_$ /"#.2$ 5<4"/$ 1&#'"5<-$ #&+)"+"$ %&+&#("+,"+$ 1"'("/"+$4"#.$5&'<"$%&+&#("+,"+2G$.'(</$R�$h").-=$7&:".+$ .1<$9&+1&#.$6789$(&5"$#0'(0+,"+$><,"$4.#&+)"+"-"+$"-"+$ '&:"-<-"+$%&+.+>"<"+$-&$7!Da$Z[[VZ]_$4.$8&5"$!"+,<:"/2$R"1.$ 7"#.$ J"#"A"+,$ 5"$ '&'"+1"<$ "#<5$ '<4.-$ :&("#"+$ 4.$ >":"+$ !"+1".$a1"#"$M!"+1<#"N$'&:":<.$<4"#"=$D"'""+$ 4&+,"+$ .1<$ h"-.:$ 9&+1&#.$ 67892$ @<4.$ @<(."+4.+.$ 4.4"'%.+,.$ 8.#&-1<#$ R&+4&#":$ J&1&+",":.51#.-"+$ 4"+$ 8.#&-1<#$ a1"'"$!3$!TU$M!�N$><,"$'&:"-<-"+$%&+.+>"<"+$!&+*":<#"+$
;"5+'!'#(>"%'#$(
;-/1.%-A-.'B3@.C16/1.DEFF
!"4"$1"+,,":$V[$;,<51<5$]XV]$*"+,$:":<$9&+1&#.$6+&#,.$8"+$7<'(&#$8"*"$9.+&#":2$R�$h").-$
4.4"'%.+,.$8.#&-1<#$R&+4&#":$9.+*"-$8"+$L"5$D<'.2$6f.1"$E=$T&,0A02$J&%":"$D!E$9.,"52$;+4*$
U00#5"'"+$70'&+,$4"+$8.#&-1<#$a1"'"$!3$!"'.+"$M!�N2$J"#&+$;,<51."A"+$'&:"-<-"+$
%&+.+>"<"+$-&$3&#'.+":$DD9$P.-"'%&-=$!&+.+>"<"+$.+.$4.:"-<-"+$<+1<-$'&'"51.-"+$-&1&4.""+$
510-$DD9$4"+$T!L$4":"'$'&+,/"4"%.$E"#.$@"*"$C4<:$\.1#.$V[ZZ$EI]XV]$MV[IWI]XV]N=
4"+$ !<5"1$ !&+,"1<#$ D&("+$ R"A"BD":.$ M!ZDN$ !TU2$ L"+4<:BP.+&#&$ <+1<-$ '&'"51.-"+$ -&5."%"+$ -&1&4.""+$ %"50-"+$ :.51#.-$ '&+,/"4"%.$:&("#"+=$
G50A-B-/-0.
?'#$(;/'.(*'%'<(
9",@"<'.
705.":.5"5.$%&+,/&'"1"+$DD9$(<(5.4.$
-&'(":.$4.:<+)<#-"+$0:&/$9&+1&#.$6789$
R�$h").-$4.$L&4<+,$J&'&+1&#."+$67892$
R"-"#1"$MZXIXWI]XV]N=$705.":.5"5.$.+.$1&+1"+,$
%&:"#"+,"+$%&+,,<+""+$DD9$(<(5.4.$4.$
5&-10#$%"'("+,"+$4"+$%&#-&(<+"+=$
8
E"#.$ .+.$ -.1"$ "-"+$ '&'%&#-&#"5$ 505.":.5"5.2$ ","#$ %&:"-5"+""+$ %&:"#"+,"+$ %&+,,<+""+$ DD9$ (<(5.4.$ 4.$ %&#<5"/""+$ %"'("+,"+$ 4"+$ %&#-&(<+"+$ (.5"$ (&#>":"+$&?&-1.?$%&#$$V$7&%1&'(&#$]XV]2G$<>"#$R�$h").-$ 4":"'$5"'(<1"++*"=$ 9&+<#<1$9&+1&#.$67892$/"#<5$"4"$%&+*"4"#"+$*"+,$-<"1$4":"'$ %&+,/&'"1"+=$FJ.1"$/"#<5$5"4"#$(&1<:$<+1<-$'&+,/&'"12$-"#&+"$ 5<:.1$5&-":.$'&+,&>"#$","#$-<01"$M5<(5.4.$DD9N$1.4"-$1&#:"'%"<.2G$ %"%"#$R�$h").-=$9<:".$ V$ 7&%1&'(&#$ ]XV]$ +"+1.2$ 5&'<"$ '0(.:$ '.:.-$ %&#<5"/""+$ %&#-&(<+"+$ 4"+$ %"'("+,"+$ 4.(&#.-"+$ 51.-&#$ 4"+$ /"#<5$ '&+,,<+"-"+$ 50:"#$ +0+$ 5<(5.4.=$ F!&#<5"/""+$ 1"'("+,$ *"+,$ (&5"#$5<4"/$%<+*"$510-$50:"#$+0+$5<(5.4.$5&+4.#.$*"+,$4.%"50-$ 4"#.$!"'.+"2$'&#&-"$,<+"-"+$.1<2G$.'(</$R�$h").-= 9&+<#<1$ 9&+1&#.$ 678$ >.-"$ 5<(5.4.$ 4"%"1$ 4./&'"12$ '"-"$ 4"+"$ 5<(5.4.$ 1&(<1$ 4"%"1$ 4.,<+"-"+$ <+1<-$ '&'("+,<+$ .+?#"51<-1<#2$ (".-$ .+?#"51#<-51<#$ 5&-10#$ &+&#,.$ '"<%<+$ <+1<-$ -&%&+1.+,"+$:".++*"=$
8.1&,"5-"+$ 9&+1&#.$ R�$ h").-2$ (.:"$ "4"$ %&#<5"/""+$ *"+,$ '&:"+,,"#2%&#<5"/""+$1&(<1$"-"+$5&,&#"$4.1.+4"-2$(.:"$%&#:<$ .>.++*"$4.)"(<1=$FD.:"$%&#<5"/""+$5&+,">"$'&:"+,,"#2$"-"+$-.1"$ )"(<1$ .>.++*"=$ U"'<+2$ (.:"$ 1#<-$ *"+,$ '&:"+,,"#2$ %&#<5"/""+$ *"+,$ /"#<5$ '&+.+4"-$ "+"-$ (<"/+*"$ .1<2G$ %<+,-"5$ 9&+1&#.$ 6789=$$$
750-/1H.'0I526J/.
9'$+(2#",$+(0'#'5(
9/<+
!&'&#.+1"/$1&#<5$'&+40#0+,$&+&#,.$
("#<$1&#("#<-"+$<+1<-$'&+4<-<+,$
-&1&+",":.51#.-"+$+"50+":=$
+
"+,-"/$ .+.$ 4.:"-<-"+$ %&'&#.+1"/$ <+1<-$ '&+,<#"+,.$ -&1&#,"+1<+,"+$ -&%"4"$ 5<'(&#$ 4"*"$ '.+*"-=$ 3&#-".1$ /":$ 1&(<1$ %&'&#.+1"/$ -.+.$ 5&4"+,$ '&+,,":"--"+$ &+&#,.$ %"+"5$ (<'.=$ 8":"'$ 5<#"1$ -&%<1<5"+$ 9&+1&#.$ 6+&#,.$ 7<'(&#$ 8"*"$ 9.+&#":$ M6789N$ *"+,$ ("#<$ 4.1"+4"1"+,"+.$Vi$;,<51<5$:":<2$4."+1"#"+*"$'&+,"1<#$'&+,&+".$ /"#,"$(&:.$&+&#,.$%"+"5$(<'.$4.$5&><':"/$4"&#"/=$F;-/.#$ '.+,,<$ .+.$ '<+,-.+$ "-"+$ -&:<"#$ %&#"1<#"+$ 1&(<1$ 4"#.$ J&'&+1&#."+2G$ <>"#$ 9&+1&#.$ 6789$ $ R�$ h").-$ 4":"'$ 5"'(<1"++*"$%"4"$")"#"$C+40+&5."$C+1&#+"1.0+":$C+?#"51#<)1<#&$ P0+?&#&+)&$k$6g/.(.1.0+$]XV]2$R"-"#1"$M]_IXWI]XV]N=$
$ 9&5-.$ (&:<'$ 4.5"/-"+2$ %./"-+*"$ "-"+$ '&'%<(:.-"5.-"+$ '&+,&+".$ /"#,"$ %&'(&:."+$ *"+,$ -.#"+*"$ 4"%"1$ '&#"+,5"+,$ .+f&510#$ <+1<-$ '&'("+,<+$ &+&#,.$ %"+"5$ (<'.$ 4.$ C+40+&5."=$ R�$h").-$'&+*&(<1-"+$/"#,"$%&'(&:."+$*"+,$"-"+$4.:"-<-"+$ %&#<5"/""+$:.51#.-$"4":"/$VX$5&+$40:"#$%&#$JA/$4.$7<'"1&#"2$VZ$ 5&+$40:"#$%&#$JA/$4.$7<:"A&5.$a1"#"2$V[$5&+$40:"#$%&#$JA/$$4.$ U<5"$3&+,,"#"$3.'<#2$4"+$VW$5&+$40:"#$%&#$JA/$4.$!"%<"=$ E"#,"B/"#,"$ 1&(<1$ -.#"+*"$ '&+>"4.$ 1"A"#"+$ *"+,$ '&'"4".$ (",.$ %"#"$ .+f&510#=$ H:&/$ -"#&+"$ .1<$ 4.%&#-.#""+$ 4":"'$ -<#<+$ A"-1<$]BZ$1"/<+$'&+4"1"+,$"-"+$1&#>"4.$%&'("+,<+"+$(&5"#B (&5"#"+==$
*+5-/5+(0'#"%(*+(A1'#$('''K#.LMDL
D&'%"1$4.$R"-"#1"$P0+f&+1.0+$P&+1#&2$7&+"*"+$9&+1&#.$6789$R�$h").-$'&'(<-"$8.5-<5.$
3DQHOVHNWRUHQHUJLEHUWHPD$VLD3DVLȴF5HJLRQDO%RYHUQRUV&RQIHUHQFHRQ6XVWDLQDEOHDQG
C+):<5.f&$C+?#"-51#<-1<#$8&f&:0%'&+1=$;)"#"$4.5-<5.$.+.$("'""+$4&+,"+$%&:"-5"+""+$%"'&#"+$
C+1&#+"1.0+":$C+?#"51#<)1<#&$P0+?&#&+)&$"+4$&g/.(.1.0+$MCCCP6N$]XV]=$
*
":"'$ 5"'(<1"++*"$ 9&+1&#.$ '&+*"'%".-"+$ ("/A"$ 1.+,,.+*"$ 5<(5.4.$ &+&#,.$ 4.$ C+40+&5."$ '&'(<"1$ J&'&+1&#."+$ 6+&#,.$ 4"+$ 7<'(&#$ 8"*"$ 9.+&#":$ M6789N$ '&'?0-<5-"+$ 4.#.$ %"4"$ %&+,/&'"1"+$ &+&#,.$$5&-":.,<5$'&+&-"+$%&+,,<+""+$D"/"+$("/"-$ 9.+*"-$ MDD9N=$ J&%"4"$ %&5"$ 4.5-<5.$ %"+&:$ *"+,$ '"*0#.1"5$ '&#<%"-"+$ %&+,<5"/"$ .+?#"-51#<-1<#$ .+1&#+"1.0+":$ R�$ h").-$ '&+"'("/-"+2$ ("/A"$ [Xe$ %"+"5$ (<'.$ 4<+."$ (&#"4"$ 4.$ C+40+&5."=$FJ.1"$("#<$'&+,&-5%:0#"5.$:.'"$5"'%".$&+"'$%&+$ M4"#.$101":$-"%"5.1"5$%"+"5$(<'.N$5">"G$<>"#$9&+1&#.$6789= 8":"'$ %&'("+,<+"+$ .+?#"-51#<-1<#$ -&1&+",":.51#.-"+2$ 9&+1&#.$ 6789$ '&+,">"-$ %"#"$ %&:"-<$ <5"/"$ 1.4"-$ ("+*"-$ '&+<+,,<$ +"'<+$'&+,&#>"-"++*"$5&,&#"=$F80$.1$?#0'$+0AKG$">"-$9&+1&#.$ 6789=$8."-<.$0:&/$9&+1&#.$>.-"$5""1$.+.$5&4"+,$'&+40#0+,$.+f&51"5.$ <+1<-$ !&'("+,-.1$ T.51#.-$ 1&+","$ ;.#$ M!T3;N$ 4"+$ !&'("+,-.1$ T.51#.-$ 3&+","$ 7<#*"$ M!T37N=$ $ F3."%$ /"#.$ '"1"/"#.$ (.+"#$ 4.$ C+40+&5."2$'"+?""1-"+:"/Kj$">"-$9&+1&#.=$7&:".+$.1<$J&'&+1&#."+$ 6789$ ><,"$ 5&4"+,$ '&+*."%-"+$ 5<#"1B5<#"1$ -&%<1<5"+$ 9&+1&#.$ 6789$1&#-".1$/"#,"$><":$:.51#.-$*"+,$'&'"+?""1-"+$&+&#,.$("#<$ 1&#("#<-"+=$8&+,"+$'&+40#0+,$%&'("+,-.1$:.51#.-$6D32$("<#"+$ &+&#,.$%&'("+,-.1$:.51#.-$!TU$4"%"1$4.1&-"+=$8":"'$")"#"$4.5-<5.$1&(<1$'&+,/"4.#-"+$(&(&#"%"$%&'(.)"#"$ 5&%.$ 8.#&-1<#$ R&+4&#":$ J&1&+",":.51#.-"+2$ 8.#&-5.$ !3$ !TU$ M!�N2$E.1")/.2$RCP;2$5"$C+1&#+"1.0+":$!0A&#=$
B'%'%(9+@'%'%(
"545065/1-0.#!*7
D&'%"1$4.$:"%"+,"+$7&-#&1"#."1$R&+4&#":$
J&'&+1&#."+$6789$R":"+$9&4"+$9&-"$
7&:"1"+$R"-"#1"2$%"#"$%&,"A".$4"+$-"#*"A"+$4.$
:.+,-<+,"+$J&'&+1&#."+$6+&#,.$4"+$7<'(&#$
8"*"$9.+&#":$'&'(<"1$"+1#."+$%"+>"+,$<+1<-$
'&+<+,,<$,.:.#"+$(&#>"("1"+$1"+,"+$5":.+,$
'&'""?-"+$4":"'$5.:"1<#"/'.$4"+$E":":$D.$
/":":$5&-10#$6789$4":"'$#"+,-"$C4<:$\.1#.$V$
7*"A":$V[ZZ$E$M]WIXWI]XV]N=$
8
E":":$ D.$ E":":$ .+.$ 4.:"-5"+"-"+$ <+1<-$ '&+*"'(<+,$ 5.:"1<#"/'.$ 4"+$ <+1<-$ '&+.+,-"1-"+$ &105$ -&#>"$ 4"+$ '&+,"+,-"1$-&#>"5"'"$:&(./$(".-$-&4&%"+2$-"#&+"$%"4"$ /"#.$ C4<:$ \.1#.$ -.1"$ 5":.+,$ '""?B'&'""?-"+2$ -&'<4."+$ '<:".$4&+,"+$5&'"+,"1$("#<2$5"*"$5&+"+,$'&:./"1$A">"/B A">"/$51"-&/0:4$5&'<"$+"'%"-$4&+,"+$5&'"+,"1$("#<2G$<>"#$ 9&+1&#.$6+&#,.$8"+$7<'(&#$8"*"$9.+&#":2$R�$h").-=$$ !"4"$ ")"#"$ /":":$ (.$ /":":$ 1"/<+$ .+.2$ 9&+1&#.$ 6789$ R�$ h").-$ 4.4"'%.+,.$ 0:&/$ 7&-#&1"#.5$ R&+4&#":$ $ 6789$ h"#*0+0$ J"#+02$'"+1"+$9&+1&#.$6789$!#0?=$70&(#010$5"$%"#"$%&>"("1$&5&:0+$C$ 4.$:.+,-<+,"+$J&'&+1&#."+$6789$<+1<-$'&+&#.'"$>"("1$1"+,"+$ %"#"$%&>"("1$Da9U$4"+$51"-&/0:4$5&-10#$6789=
7&(",".$ ")"#"$ #<1.+$ /":":$ (./":":$ .+.$ 4.5&:&+,,"#"-"+$ 0:&/$ J&'&+1&#."+$ 6+&#,.$ 8"+$ 7<'(&#$ 8"*"$ 9"+<5."$ 5&(",".$ <+,-"%"+$#"5"$5*<-<#$-&%"4"$3</"+$O"+,$9"/"$65"$'&+*<5<:$ 5&:&5".+*"$ .("4"/$ %<"5"$ @"'"4/"+$ 5&:"'"$ 5&(<:"+$ %&+</=$ ;)"#"$ .+.$ ><,"$ 4./"#"%-"+$ '&+>"4.$ 5":"/$ 5"1<$ ?0#<'$ <+1<-$ '&+4&-"1-"+$%"#"$51"-&/0:4$5&-10#$6789=$