Mode d'emploi TRIUM ARIA@

[. . . ] *XLGHGHVPHQXV $SSOL. DWLRQV 6HUYL. HV , QIRUPDWLRQV $SSHOHU 1XPpUR $OHUWHDXGLR 5pJODJHV 9HUURXLOOHUOH. ODYLHU /DQJXH (GLWLRQ 5pJODJHVDXGLR $IIL. KDJH )RQ. WLRQVWRX. KHV )RQ. WLRQVDXWR )RQ. WLRQVGHVp. XULWp +HXUHGDWH 5pJODJHVSDUGpIDXW %OR. QRWHV &RQYHUVLRQGHGHYLVHV 5pYHLO $OOXP([WLQ. WDXWR &DOHQGULHU 1RXYHOpYpQHPHQW 6XSSULPHUUGYp. KXV 9RLUOHVpYpQHPHQWV %UDLQ'UDLQ 3XVK 2SWLRQV 3DJHG D. . XHLO 0HVIDYRULV $XWUHVLWH 3DUDPqWUHV &RQVXOWHU $MRXWHUQRP (WDWGHVUpSHUWRLUHV 0HVQXPpURV 1XPpURVIL[HV 5pSHUWRLUHVWRQDOLWpV %RLWHGHUp. HSWLRQ %RLWHG HQYRL &UpHUPHVVDJH 3DUDPqWUHV $OHUWHDXGLR %XUHDX -RXUQDOGHVDSSHOV &RPSWHXUVG DSSHOV &RXWVGHVDSSHOV 6pOH. WLRQGHOLJQH $JHQGD &DO. XODWUL. H -HX[ , QWHUQHW 5HQYRLVG DSSHOV $YLVG DSSHO (QYRLGHPRQQXPpUR 5p. HSWLRQ, 'DSSHODQW *HVWLRQGHVUpVHDX[ , QWHUGL. WLRQVG DSSHOV *URXSHVSULYpV , QIRVGLIIXVpHV (WDW 7\SHVGHPHVVDJHV $OHUWHDXGLR /DQJXH 6HUYL. HVUpVHDX 5pSRQGHXU 5pSHUWRLUHV 0HVVDJHV $SSHOV'XUpHV 6HUYL. HV*60 5HWLUH]. HWWH. DUWHSOLH]ODHWSOD. H]ODGDQVYRWUHSRUWHIHXLOOH /DGLVSRQLELOLWpHWODSUpVHQWDWLRQGH. HVIRQ. WLRQVGDQVOHPHQXGpSHQGHQWGHYRWUHDERQQHPHQWHWGHVVHUYL. HVIRXUQLVSDUYRWUHRSpUDWHXUUpVHDX )5$1d$, 6 $5, $# 2SpUDWLRQVJpQpUDOHV 0HWWUHHQJDUGHUHSUHQGUHXQDSSHO $IIL. KHUOHVGHUQLHUVQXPpURV. RPSRVpV $SSHOHUOH. HQWUHGHPHVVDJHULHYR. DOH /LUHXQQRXYHDXPHVVDJH606 6pOH. WLRQQHUXQHDXWUHVRQQHULHG DSSHO $SSX\H]VXU $SSX\H]VXU SXLVVXU RX HW $SSX\H]ORQJXHPHQWVXU $SSX\H]VXU/LUH 6HOH. WLRQQH]6RQQHULHGDQVOHPHQX 5pJODJHV5pJODJHVDXGLRDSSX\H] VXU RX HW SRXUVpOH. WLRQQHUOD VRQQHULHG DSSHOHWDSSX\H]VXU2. $SSX\H]VXU0HQX VpOH. WLRQQH] 5pSHUWRLUHVVpOH. WLRQQH]$MRXWHU QRPVpOH. WLRQQH]5pSHUWRLUH WpOpSKRQHRX5pSHUWRLUH. DUWH6, 0 VDLVLVVH]OHQXPpURSXLVOHQRP $SSX\H]VXU1RPV RX0HQX 5pSHUWRLUHVVpOH. WLRQQH]O HQWUpH DSSX\H] *HVWLRQGXUpSHUWRLUH (QUHJLVWUHUXQQXPpUR &RPSRVHUXQQXPpURHQUHJLVWUp 0LVHHQPDU. KHDUUrWGXWpOpSKRQH ePHWWUHXQDSSHO 5pSRQGUHjXQDSSHO 7HUPLQHUXQDSSHO 5pJOHUOHYROXPHGHO p. RXWHXU &RXSHUODVRQQHULHG DSSHOHQWUDQW $. WLYHUGpVD. WLYHUOHYHUURXLOODJH GX. ODYLHU &RXSHUD. WLYHUOHPL. UR 2SpUDWLRQVGHEDVH *XLGHGHUpIpUHQ. H $SSX\H]ORQJXHPHQWVXU 6DLVLVVH]OHQXPpURHWDSSX\H]VXU $SSX\H]VXU $SSX\H]VXU $SSX\H]VXU $SSX\H]VXU6LOHQ. H $SSX\H]VXU SXLV $SSX\H]ORQJXHPHQWVXU 0$18(/' 87, /, 6$7, 21 &HPDQXHOHVWGHVWLQpDX[XWLOLVDWHXUVGXWpOpSKRQH *60ELEDQGH7ULXP$5, $# UHpGLWLRQ 0LWVXELVKL(OH. WUL. 7HOH. RP(XURSH $X. XQHIIRUWQ DpWpQpJOLJpSRXUDVVXUHUO H[D. WLWXGHGHVLQVWUX. WLRQV. RQWHQXHVGDQV. H PDQXHO0LWVXELVKL(OH. WUL. VHUpVHUYHWRXWHIRLVOHGURLWG DSSRUWHUVDQVSUpDYLVGHV DPpOLRUDWLRQVHWGHVPRGLIL. DWLRQVDXSURGXLWGp. ULWGDQV. HPDQXHOHWRXDXPDQXHO SURSUHPHQWGLW 1RXVYRXVUHPHU. LRQVGHO D. KDWGXWpOpSKRQH*60ELEDQGH$ULD#7ULXP/H WpOpSKRQHGp. ULWGDQV. HJXLGHHVWDJUppSRXUXQHXWLOLVDWLRQVXUOHVUpVHDX[ *60 HW &RPPHWRXWpTXLSHPHQWGHUDGLRWUDQVPLVVLRQ. HWpOpSKRQHPRELOHpPHWGHV RQGHVpOH. WURPDJQpWLTXHVHWUHVSH. WHOHVQRUPHVLQWHUQDWLRQDOHVGDQVODPHVXUH RLOHVWXWLOLVpGDQVGHV. RQGLWLRQVQRUPDOHV. RQIRUPHVDX[. RQVLJQHVGHVp. XULWp LQGLTXpHV. LGHVVRXVHWDX[SDJHVjHW , QWURGX. WLRQ 5HVSH. WH]WRXWHUpJOHPHQWDWLRQSDUWL. XOLqUHUHODWLYHjO XWLOLVDWLRQGHVpTXLSHPHQWV UDGLRpOH. WULTXHVHQSDUWL. XOLHUSRXU. HTXL. RQ. HUQHOHVULVTXHVG LQWHUIpUHQ. HVUD GLRpOH. WULTXHV9HXLOOH]DSSOLTXHUVWUL. WHPHQWOHV. RQVLJQHVGHVp. XULWpTXLVXLYHQW eWHLJQH]YRWUHWpOpSKRQHPRELOHjERUGG XQDYLRQ(QHIIHWO XWLOLVDWLRQG XQ WpOpSKRQHPRELOHHVWLQWHUGLWHjERUGGHO DYLRQGDQVO LQWpUrWGHODVp. XULWp jERUGGHO DYLRQHWGHODERQQHH[SORLWDWLRQGHVUpVHDX[UDGLRWpOpSKRQL TXHV/HQRQUHVSH. WGH. HWWH. RQVLJQHSHXWHQWUDvQHUSRXUOH. RQWUHYHQDQW ODVXVSHQVLRQRXO LQWHUGL. WLRQGXVHUYL. HGHVSRXUVXLWHVMXGL. LDLUHVRXOHV GHX[ eWHLJQH]YRWUHWpOpSKRQHPRELOHjSUR[LPLWpG XQHSRPSHjHVVHQ. HRXGH WRXWPDWpULDXLQIODPPDEOH eWHLJQH]YRWUHWpOpSKRQHGDQVXQK{SLWDORXGDQVWRXWDXWUHHQGURLWGDQV OHTXHOXQpTXLSHPHQWPpGL. DOSHXWrWUHHQIRQ. WLRQQHPHQW 5HVSH. WH]OHVUqJOHPHQWVUHODWLIVjO XWLOLVDWLRQGHVUDGLRWpOpSKRQHVGDQVOHV GpS{WVGH. DUEXUDQWOHVXVLQHV. KLPLTXHVRXOHVVLWHVVXUOHVTXHOVGHVH[SOR VLRQVGH. KDUJHVVRQWHQ. RXUV / XWLOLVDWLRQG XQUDGLRWpOpSKRQHSHXWSHUWXUEHUOHIRQ. WLRQQHPHQWGHGLV SRVLWLIVPpGL. DX[SHUVRQQHOVLQVXIILVDPPHQWSURWpJpVWHOVTXHGHVSURWKq VHVDXGLWLYHVHWGHVVWLPXODWHXUV. DUGLDTXHV&RQVXOWH]OHIDEUL. DQWGX GLVSRVLWLIPpGL. DOSRXUGpWHUPLQHUV LOHVW. RUUH. WHPHQWSURWpJp / XWLOLVDWLRQG XQWpOpSKRQHPRELOHjSUR[LPLWpG DXWUHVpTXLSHPHQWVpOH. [. . . ] ODSOXVJUDQGHSUp. LVLRQ/HWpOpSKRQHSHXWrWUHOHVHXOPR\HQGH. RPPXQL. DWLRQ GDQVXQHVLWXDWLRQG XUJHQ. H3DU. RQVpTXHQWQH. RXSH]SDVOD. RPPXQL. DWLRQ WDQWTXHYRXVQ HQDYH]SDVUHoXO DXWRULVDWLRQ /HVWpOpSKRQHVSRUWDEOHVXWLOLVHQWGHVUpVHDX[KHUW]LHQVRXWHUUHVWUHVGRQWO D. . qVQ HVWSDVJDUDQWL HQWRXWHV. LU. RQVWDQ. HV1H. RPSWH]SDVH[. OXVLYHPHQWVXUXQWpOpSKRQHSRUWDEOHSRXUOHV. RPPX QL. DWLRQVXUJHQWHVYLWDOHV eOLPLQDWLRQGHVHPEDOODJHV / HPEDOODJHXWLOLVpSRXU. HWpOpSKRQHHVWIDEULTXpDYH. GHVPDWpULDX[UH. \. ODEOHV HWGRLWrWUHpOLPLQp. RQIRUPpPHQWjYRWUHOpJLVODWLRQQDWLRQDOHVXUODSURWH. WLRQGH O HQYLURQQHPHQW 9HXLOOH]VpSDUHUOHVpOpPHQWVHQSODVWLTXHHWHQ. DUWRQHWOHVpOLPLQHU. RPPHLOVH GRLW 3UpSDUDWLRQGXWpOpSKRQH &DUWH6, 0 $YDQWG XWLOLVHUYRWUHWpOpSKRQHYRXVGHYH]LQVpUHUXQH. DUWH6, 06XEV. ULEHU, GHQ WLW\0RGXOHYDOLGHGDQVOHORJHPHQWGH. DUWH6, 0 6LOD. DUWH6, 0Q HVWSDVLQVpUpHRXQ HVWSDV. RUUH. WHPHQWLQVWDOOpHGDQVVRQORJH PHQWOHPHVVDJH9pULILHUOD. DUWH6, 0DSSDUDvWjO p. UDQORUVTXHOHWpOpSKRQH HVWPLVVRXVWHQVLRQ , QVHUWLRQ 9RLU´, QVHUWLRQGHOD. DUWH6, 0µSDJH ([WUD. WLRQ eWHLJQH]OHWpOpSKRQHHQDSSX\DQWORQJXHPHQWVXU 2XYUH]OH. DSX. KRQSURWH. WHXUHQ. DRXW. KRX. 3RXVVH]OHERXWRQpMH. WHXUGHOD. DUWH6, 0YHUVODGURLWHSXLV UHWLUH]OD. DUWH 5HPHWWH]HQSOD. HOH. DSX. KRQSURWH. WHXUHQ. DRXW. KRX. eMH. WHXUGH OD. DUWH6, 0 3UpSDUDWLRQGXWpOpSKRQH %DWWHULH 0LVHHQSOD. HGHODEDWWHULH , QVWDOOH]ODEDWWHULH. RPPHLQGLTXp. LGHVVRXV 3RVLWLRQQH]ODEDWWHULHVXUOHWpOpSKRQH. RPPHLQGLTXp 3RXVVH]O DXWUHH[WUpPLWpGHODEDWWHULHVXUOHWpOpSKRQHMXVTX j . HTXH. HOOH. LV HQ. OHQ. KH$VVXUH]YRXVTXHODEDWWHULHHVWELHQ HQSOD. H 9HUURXGHOD EDWWHULH 6LOD. KDUJHGHODEDWWHULHHVWLQVXIILVDQWHSRXUDOLPHQWHUOHWpOpSKRQHVXLYH]OHVLQVWUX. WLRQVjODSDJH DILQGH. KDUJHUODEDWWHULH 5HWUDLW 3RXVVH]HWPDLQWHQH]YHUVOHKDXWOHYHUURXGHODEDWWHULH /DEDWWHULHHVWOLEpUpHHWSHXWDORUVrWUHUHWLUpH 9HUURXGHODEDWWHULH $YHUWLVVHPHQWGHQLYHDXGH. KDUJHIDLEOHGHODEDWWHULH &KDUJHGHODEDWWHULH $ILQGHSURORQJHUODGXUpHGHYLHGHYRWUHEDWWHULHLOHVWUH. RPPDQGpGH QHODUH. KDUJHUTXHVLOHPHVVDJHG DYHUWLVVHPHQW%DWWHULHIDLEOHHVWDI IL. KpjO p. UDQHWTXHOHWpOpSKRQHpPHWO DODUPHVRQRUHGHEDWWHULHIDLEOH ÑWH]OH. DSX. KRQSURWpJHDQWODSDUWLHLQIpULHXUHGXWpOpSKRQHHWEUDQ. KH] OH. KDUJHXUDXWpOpSKRQH. RPPHLQGLTXp %RXWRQV %UDQ. KH]OH. KDUJHXUVXUODSULVHPXUDOH/DEDWWHULHHVWDORUVHQ. KDUJH /HWpOpSKRQHSHXWrWUHXWLOLVpHQ. RXUVGH. KDUJHPDLV. H. LDOORQJHODGX UpHGHOD. KDUJH 3UpSDUDWLRQGXWpOpSKRQH 4XDQGODEDWWHULHHVWSUHVTXHGp. KDUJpHOHPHVVDJH%DWWHULHIDLEOHDS SDUDvWjO p. UDQHWXQVLJQDOVRQRUHGHQLYHDXGHEDWWHULHIDLEOHHVWpPLV 6LYRXVrWHVHQ. RXUVGH. RPPXQL. DWLRQPHWWH]ILQjO DSSHOHWPHWWH]OH WpOpSKRQHKRUVWHQVLRQHQDSSX\DQWORQJXHPHQWVXU 5H. KDUJH]ODEDWWHULH. RPPHGp. ULWRXUHPSOD. H]ODSDUXQHEDWWHULH . KDUJpH 1HPHWWH]SDVOHWpOpSKRQHKRUVWHQVLRQHQUHWLUDQWODEDWWHULH 9RXVULVTXH]GHSHUGUHOHVGRQQpHVHQUHJLVWUpHVGDQVYRWUH. DUWH6, 0 , QGL. DWHXUVGH. KDUJHORUVTXHOHWpOpSKRQHHVWpWHLQW 3HQGDQWOD. KDUJHO p. UDQDIIL. KH(Q. KDUJH/HYR\DQWOXPLQHX[ HVWURXJH8QHIRLVTXHOD. KDUJHHVWWHUPLQpHOHPHVVDJH%DWWHULH SOHLQHDSSDUDvWHWOHYR\DQWOXPLQHX[GHYLHQWYHUW , QGL. DWHXUVGH. KDUJHORUVTXHOHWpOpSKRQHHVWDOOXPp 3HQGDQWOD. KDUJHOHVWURLVVH. WLRQVGHO L. {QHGHEDWWHULH. OLJQRWHQWDOWHU QDWLYHPHQW8QHIRLVTXHOD. KDUJHHVWWHUPLQpHOHVWURLVVH. WLRQVGHO LQ GL. DWHXUGHEDWWHULHUHVWHQWDIIL. KpHV/HYR\DQWOXPLQHX[Q HVWSDVXWLOLVp . RPPHLQGL. DWHXUVLOHWpOpSKRQHHVWDOOXPp6LXQDSSHOHVWUHoXSHQGDQW OD. KDUJHOHYR\DQWOXPLQHX[GHYLHQWYHUWHW. OLJQRWHUDSLGHPHQW , OHVWQRUPDOTXHODEDWWHULH. KDXIIHSHQGDQWOD. KDUJH8QHIRLVOD. KDUJH WHUPLQpHGpEUDQ. KH]OH. KDUJHXUGXWpOpSKRQHHQSRXVVDQWHWHQ PDLQWHQDQWHQIRQ. pVOHVGHX[ERXWRQVVLWXpVVXUOHV. {WpVGX. RQQH. WHXU HWGpEUDQ. KH]ODSULVH 7HPSVGH. KDUJHKDELWXHODYH. O DGDSWDWHXUVH. WHXU)=$$ 7\SHGHEDWWHULH %DWWHULH/3)=$ 7HPSVGH. KDUJHKDELWXHO K 8WLOLVDWLRQGHODEDWWHULHHW. RQVLJQHVGHVp. XULWp 8QHEDWWHULHSHXWrWUH. KDUJpHSOXVLHXUV. HQWDLQHVGHIRLVPDLVHOOHVHGp JUDGHSURJUHVVLYHPHQW6LVRQDXWRQRPLHHQYHLOOHHWHQ. RPPXQL. DWLRQ DQHWWHPHQWGLPLQXpSDUUDSSRUWjODQRUPDOHLOHVWWHPSVGHODUHPSOD. HU SDUXQHEDWWHULHQHXYH 1HODLVVH]SDVODEDWWHULH. RQQH. WpHDX. KDUJHXUSOXVORQJWHPSVTXH Qp. HVVDLUHODVXU. KDUJHGLPLQXHODGXUpHGHYLHGHODEDWWHULH 'p. RQQH. WH]OH. KDUJHXUGHEDWWHULHGHODVRXU. HG DOLPHQWDWLRQORUV TXHYRXVQHO XWLOLVH]SDV 1 H[SRVH]SDVODEDWWHULHjGHV. RQGLWLRQVH[WUrPHVGHWHPSpUDWXUHHW G KXPLGLWp 1HMHWH]SDVXQHEDWWHULHDXIHX. DUHOOHULVTXHG H[SORVHU eYLWH]GHPHWWUHOHVEDWWHULHVHQ. RQWD. WDYH. GHVREMHWVPpWDOOLTXHVTXL eOLPLQDWLRQGHODEDWWHULH 9HXLOOH]pOLPLQHUYRVEDWWHULHVXVDJpHV. RQIRUPpPHQWjODOpJLVODWLRQ QDWLRQDOHUHODWLYHjODSURWH. WLRQGHO HQYLURQQHPHQW (Q. DVGHGRXWH. RQWD. WH]OHVVHUYL. HVOR. DX[GHO HQYLURQQHPHQWSRXU SOXVG LQIRUPDWLRQVVXUO pOLPLQDWLRQGHVEDWWHULHVXVDJpHV 3UpSDUDWLRQGXWpOpSKRQH ULVTXHQWGHSURYRTXHUGHV. RXUWV. LU. XLWVVXUOHV. RQWD. WVGHODEDWWHULH WURPERQHVSLq. HVGHPRQQDLH. KDvQHVHW.  eYLWH]GHODLVVHUWRPEHUODEDWWHULHRXGHODVRXPHWWUHjGHV. KR. VSK\ VLTXHVYLROHQWV 1 HVVD\H]SDVGHGpPRQWHUODEDWWHULH 8WLOLVH]H[. OXVLYHPHQWOHV. KDUJHXUVGHEDWWHULHUH. RPPDQGpVYRLU SDJHVHW 6LOHV. RQWD. WVGHODEDWWHULHVRQWWk. KpVQHWWR\H]OHVDYH. XQ. KLIIRQ GRX[ , OHVWQRUPDOTXHODEDWWHULH. KDXIIHSHQGDQWOD. KDUJH /HVEDWWHULHVXVDJpHVGRLYHQWrWUHUHWRXUQpHVDXOLHXG D. KDWRXjXQ VHUYL. HTXLVH. KDUJHGHOHXUpOLPLQDWLRQSDUGHVYRLHVDGpTXDWHV1H MHWH]SDVOHVEDWWHULHVXVDJpHVDYH. OHVRUGXUHVPpQDJqUHV 2SpUDWLRQVGHEDVH 0LVHVRXVWHQVLRQGXWpOpSKRQHp. UDQGHYHLOOH HWPLVHKRUVWHQVLRQGXWpOpSKRQH 0LVHVRXVWHQVLRQGXWpOpSKRQH $SSX\H]ORQJXHPHQWVXU 8QVLJQDOVRQRUHLQGLTXHODPLVH VRXVWHQVLRQGXWpOpSKRQH 6LOHWpOpSKRQHHVWYHUURXLOOpOHPHVVDJH(QWUHUOH. RGHGH YHUURXLOODJHDSSDUDvWjO p. UDQ6DLVLVVH]OH. RGHj. KLIIUHVHW DSSX\H]VXU2N RX 6LYRWUH. DUWH6, 0HVWSURWpJpHSDUXQ. RGH3, 1O p. UDQDIIL. KH (QWUHU. RGH3, 1 6DLVLVVH]YRWUH. RGH3, 1HWDSSX\H]VXU2N RX HW 8QHDQLPDWLRQDSSDUDvWjO p. UDQ8QVLJQDOVRQRUHLQGLTXHTXHOD. RQ QH[LRQHVWpWDEOLHHWOHQRPGXUpVHDXHWRXGHO RSpUDWHXUDSSDUDLVVHQWj O p. UDQDYH. O KHXUHHWODGDWHOHVLQGL. DWHXUVG LQWHQVLWpGXVLJQDOHWGHQL YHDXGH. KDUJHGHODEDWWHULHDLQVLTXHOHVWRX. KHVGHIRQ. WLRQ 1RPVHW 0HQX9RLUHQSDJHSRXUVDYRLU. RPPHQWUpJOHUO KHXUHHWODGDWH / p. UDQGHYHLOOHQRUPDOHVWUHSUpVHQWp. LGHVVRXV 3RXUSOXVGHGpWDLOVVXUOHV. RGHV3, 1HWOHV. RGHVGHYHUURXLOODJHUHSRUWH]YRXVDX[SDJHV /RUVTXHOHWpOpSKRQHHVWGDQV. HWpWDWYRXVSRXYH]UH. HYRLURXpPHWWUH GHVDSSHOVRXXWLOLVHUO XQHGHVQRPEUHXVHVIRQ. WLRQQDOLWpVLQWpJUpHV 'HSXLVO p. UDQp. UDQGHYHLOOHODWRX. KH YRXVSHUPHWWUDGHGpVD. WLYHUOD VRQQHULHHQWUDQWHRXGHUpJOHUOHVRSWLRQVGXYLEUHXUYRLUSDJH ODWRX. KH YRXVSHUPHWWUDGHUpJOHUOHYROXPHGHVGLIIpUHQWHVVRQQHULHV WRQDOLWpVGHWRX. KHVHWDODUPHVYRLUSDJH/HVWRX. KHVQXPpULTXHV HW j SHUPHWWHQWG DIIL. KHUOHV. KLIIUHV. RUUHVSRQGDQWVjO p. UDQYRLU pJDOHPHQW´1XPpURWDWLRQUDSLGHµSDJH /DWRX. KH SHUPHWGH . RPSRVHUXQQXPpURGHWpOpSKRQHWDQGLVTXHODWRX. KH LQWHUURPSWOD QXPpURWDWLRQRXPHWILQjXQDSSHO 0HQX 'HSXLVO p. UDQp. UDQGHYHLOOHDSSX\H]VXU0HQX SRXUDYRLUD. . qVjWRX WHVOHVIRQ. WLRQVGXWpOpSKRQH 8WLOLVH] RX HW SRXUIDLUHGpILOHUOHPHQXYHUVOHKDXWRXYHUVOH EDV 1RPV 'HSXLVO p. UDQp. UDQGHYHLOOHDSSX\H]VXU1RPV SRXUD. . pGHUGLUH. WH PHQWjWRXVOHVQXPpURVHQUHJLVWUpVGDQVOHUpSHUWRLUH/HVIRQ. WLRQVGLV SRQLEOHVVRQWLGHQWLTXHVj. HOOHVTXHYRXVWURXYHUH]GDQVOHPHQX 5pSHUWRLUHVYLDOHPHQXSULQ. LSDO 6 LOHVWD. WLYpOHYHUURXLOODJH. ODYLHUSHUPHWG pYLWHUOHVDSSHOVIRUWXLWVRX WRXWHDXWUH. RPPDQGHLQYRORQWDLUHGHO XWLOLVDWHXUORUVTXHOHWpOpSKRQH HVWGDQVXQHSR. KHXQSRUWHGR. XPHQWVRXXQVD. jPDLQ/HYHUURXLOODJH GX. ODYLHUQ HPSr. KHSDVGHUH. HYRLUOHVDSSHOVDX[TXHOVYRXVSRXYH]Up SRQGUHQRUPDOHPHQW/HYHUURXLOODJHHVWDXWRPDWLTXHPHQWUpD. WLYpGqV TXHO DSSHOUHoXHVWWHUPLQp 3RXUYHUURXLOOHUOH. ODYLHU $SSX\H]VXU SXLVVXU /HWpOpSKRQHDIIL. KH 3RXUGpYHUURXLOOHUOH. ODYLHU $SSX\H]VXU RX'pYHUU SXLVVXU 9HUURXLOODJHGX. ODYLHU 3RXUGHSOXVDPSOHVUHQVHLJQHPHQWVYHXLOOH]YRXVUHSRUWHUHQSDJH 5pWURp. ODLUDJH /HUpWURp. ODLUDJHGHO p. UDQUHVWHQRUPDOHPHQWpWHLQW/ p. UDQHWOH. ODYLHU VRQWp. ODLUpVSHQGDQWVH. RQGHVORUVTXHYRXVDSSX\H]VXUXQHWRX. KH / p. ODLUDJHUHVWHDOOXPpHQ. DVGHUp. HSWLRQG DSSHOWDQWTXHYRXVQHUp SRQGH]SDV /HUpJODJHGXUpWURp. ODLUDJHHVWGp. ULWGDQVOHVSDJHVHW $SSX\H]ORQJXHPHQWVXU 8QVLJQDOVRQRUH. RQILUPHODPLVHKRUVWHQVLRQGXWpOpSKRQH8QHDQL PDWLRQDSSDUDvWjO p. UDQ/HWpOpSKRQHVHPHWHQVXLWHKRUVWHQVLRQ 1 pWHLJQH]SDVOHWpOpSKRQHHQHQOHYDQWODEDWWHULH. DU. H. LULVTXHGHSURYRTXHUODSHUWHGHVGRQ QpHVHQUHJLVWUpHVVXUOD. DUWH6, 0 0LVHKRUVWHQVLRQGXWpOpSKRQH ePLVVLRQHWUp. HSWLRQG XQDSSHO /HWpOpSKRQHQHSHXWpPHWWUHHWUH. HYRLUG DSSHOVTXHV LOHVWVRXVWHQVLRQGpYHU URXLOOppTXLSpG XQH. DUWH6, 0YDOLGHHWVLWXpGDQVXQH]RQHGH. RXYHUWXUH*60 6LOHWpOpSKRQHQHWURXYHSDVGHUpVHDXO p. UDQGHPHXUHYLHUJH3RXUREWHQLUGH PHLOOHXUVUpVXOWDWVDORUVTXHYRXVpPHWWH]RXTXHYRXVUH. HYH]XQDSSHOYHXLOOH] GpSOR\HUO DQWHQQHHQWLqUHPHQW ePLVVLRQG XQDSSHO 6DLVLVVH]OHQXPpURGHWpOpSKRQHVRXKDLWpjO DLGHGHVWRX. KHVQX PpULTXHV j HW  2SpUDWLRQVGHEDVH /HVDSSHOVLQWHUQDWLRQDX[GRLYHQWrWUHSUp. pGpVGHRXGX V\PEROH VXLYLGX. RGHGXSD\V3RXUVDLVLUOHVLJQHGHYDQWXQQX PpURDSSX\H]ORQJXHPHQWVXUODWRX. KH 9RLU´, QGL. DWLIVLQWHUQDWLRQDX[µ. LGHVVRXVVLYRXVQH. RQQDLVVH]SDV OH. RGHGXSD\VTXHYRXVVRXKDLWH]DSSHOHU 9RXVSRXYH]VDLVLUMXVTX j. KLIIUHVDXPD[LPXP&RUULJH]OHVHU UHXUVGHVDLVLHHQDSSX\DQWVXU(IID. HU 9RXVSRXYH]HIID. HUO LQWp JUDOLWpGXQXPpURHQDSSX\DQWORQJXHPHQWVXU. HWWHWRX. KH 3RXU. RPSRVHUOHQXPpURDSSX\H]VXU / p. UDQDIIL. KHOHQXPpUR. RPSRVpDLQVLTXHO L. {QHDQLPpH /RUV TXHOD. RPPXQL. DWLRQHVWpWDEOLHXQHWRQDOLWpGHVRQQHULHHVWpPLVH GDQVO p. RXWHXUHWXQ. RPSWHXUDSSDUDvWjO p. UDQ8QHIRLVTXHOH. RU UHVSRQGDQWUpSRQGYRXVSRXYH]SRXUVXLYUHYRWUHDSSHOQRUPDOH PHQW /HPHVVDJH2. . XSpLQGLTXHTXHOHQXPpURDSSHOpHVWR. . XSp6LOH UDSSHODXWRPDWLTXHHVWD. WLYpOHWpOpSKRQHWHQWHGH. RPSRVHUGH QRXYHDXOHQXPpURYRLUSDJHSRXUSOXVGHGpWDLOV /HPHVVDJH, QWHUGLWQXPpURVIL[HVVLJQLILHTXHOHQXPpUR . RPSRVpQ HVWSDVDXWRULVpSDUODOLVWHGHVDSSHOVIL[HV5HSRUWH] YRXVjODSDJHSRXUSOXVGHGpWDLOV 6LOHQXPpUR. RPSRVp. RUUHVSRQGjXQQXPpURHQUHJLVWUpGDQVOH UpSHUWRLUHOHQRPGHODSHUVRQQHDSSHOpHDSSDUDvWDORUVjODSOD. H GXQXPpUR / L. {QHGHGHX[LqPHOLJQH DSSDUDvWXQHIRLVTXHOD. RPPXQL . DWLRQHVWpWDEOLHVL. HVHUYL. HHVWGLVSRQLEOH(OOHLQGLTXHTXHOD . RPPXQL. DWLRQHVWpWDEOLHVXUODOLJQH , QGL. DWLIVLQWHUQDWLRQDX[ 6LYRXVVRXKDLWH]. RPSRVHUXQQXPpURLQWHUQDWLRQDOHWTXHYRXVQH . RQQDLVVH]SDVO LQGL. DWLIGXSD\V. RQ. HUQp 6DLVLVVH]HQSUHPLHUOHV\PEROHGDQVO DIIL. KDJHHQDSSX\DQW HWHQPDLQWHQDQWODWRX. KH HQIRQ. pH 6pOH. WLRQQH]&RGHV )DLWHVYRWUH. KRL[SDUPLOHVTXHOTXHSD\VUpSHUWRULpVSXLV DSSX\H]VXU9DOLGHU / LQGL. DWLIDSSURSULpGXSD\V. RUUH. WDSSDUDvWUDjODVXLWHGX V\PEROHGDQVO DIIL. KDJH 6DLVLVVH]OHQXPpURj. RPSRVHUHWDSSX\H]VXU /HV\PEROHHWO LQGL. DWLIGXSD\VSHXYHQWrWUHHQUHJLVWUpVDYH. OHQXPpURGDQVOHUpSHUWRLUH )LQG XQDSSHO $SSX\H]VXU /H. RPSWHXUG DSSHOVV DUUrWHHW GLVSDUDvW/ p. UDQGHYHLOOHHVWGH QRXYHDXDIIL. KpDSUqVTXHOTXHVVH. RQGHVRXHQDSSX\DQWVXU 6RUWLU 1%ODIHUPHWXUHGXIOLSQHPHWSDVILQjXQDSSHO 5p. HSWLRQG XQDSSHO /RUVTX XQDSSHOHVWUHoXOHWpOpSKRQHVRQQH/HYR\DQWOXPLQHX[YHUWVL WXpHQKDXWGXWpOpSKRQH. OLJQRWHOHUpWURp. ODLUDJHGHVWRX. KHVHWGH O p. UDQV DOOXPHHWOHV\PEROH . OLJQRWHjO p. UDQ6LOHYROXPHGHODVRQ QHULHHVWj]pURGpVD. WLYpRXVLOHWpOpSKRQHHVWHQPRGH©9LEUHXUªYRXV Q HQWHQGUH]DX. XQVRQDXGLEOHYRLUHQSDJHSRXUUpJOHUOHYROXPHGH ODVRQQHULH 3RXUD. . HSWHUUpSRQGUHjO DSSHO $SSX\H]VXU /DIRQ. WLRQ6LOHQ. H . RXSHODWRQDOLWpGHODVRQQHULHHWYRXVSHUPHW GHVRUWLUG XQHSLq. HDYDQWG DSSX\HUVXU 1%O RXYHUWXUHGXIOLSQHSHUPHWSDVGHUpSRQGUHjXQDSSHO 3RXUUHMHWHUO DSSHOHWUHQYR\HUODWRQDOLWpGHOLJQHR. . XSpH $SSX\H]VXU 6LO DSSHOHVWD. . HSWpO p. UDQDIIL. KH 9RXVSRXYH]DORUVSRXUVXLYUH QRUPDOHPHQWYRWUH. RPPXQL. DWLRQ 6LOHQXPpURGHO DSSHODQWQ HVWSDVGLVSRQLEOH$SSHOHVWDIIL. Kp jO p. UDQGXUDQWOD. RQQH[LRQ 6LOHQXPpURGHO DSSHODQWHVWGLVSRQLEOH$SSHOHVWDIIL. Kpj O p. UDQGXUDQWOD. RQQH[LRQVL. HQXPpURQH. RUUHVSRQGjDX. XQ GHVQXPpURVVWR. NpVGDQVOHVUpSHUWRLUHV6LQRQOHQRPDVVR. Lp GDQVOHVUpSHUWRLUHVHVWDIIL. KpGXUDQWOD. RQQH[LRQ 6LO DSSHODQWD. D. KpVRQQXPpUR1XPpUR. D. KpHVWDIIL. KpSHQ GDQWODSUpVHQWDWLRQGHO DSSHOHWHQVXLWH$SSHOHVWDIIL. Kp GXUDQWOD. RQQH[LRQ 8Q. RPSWHXUG DSSHOUHoXHVWpJDOHPHQWDIIL. Kp DSSDUDvWVLOD. RPPXQL. DWLRQHVWpWDEOLHVXUYRWUHOLJQH QXPpUR SRXUSOXVGHGpWDLOVYRLUSDJH 3RXUPHWWUHILQjO DSSHO $SSX\H]VXU /HQXPpURGHO DSSHODQWV LOHVWD. . HVVLEOHHVWHQUHJLVWUpGDQVOHMRXU QDOGHVDSSHOVUHoXVSRXUSOXVGHGpWDLOVYRLUSDJH 1%ODIHUPHWXUHGXIOLSQHPHWSDVILQjXQDSSHO , QGL. DWLRQVG DSSHOVVDQVUpSRQVHGHPHVVDJHV UpSRQGHXUHWGHQRXYHDX[PHVVDJHV. RXUWVUH oXV 6LXQRXSOXVLHXUVDSSHOVUHoXVRQWUHVWpVVDQVUpSRQVHO p. UDQDIIL. KH $SSX\H]OH. DVp. KpDQWVXU/LUH SRXUYLVXDOLVHUOHVQXPpURVGHVXVDJHUV D\DQWDSSHOpDLQVLTXHODGDWHHWO KHXUHGHOHXUDSSHO$SSX\H]VXU SRXU 2SpUDWLRQVGHEDVH DSSHOHU. HQXPpUR/HVQXPpURVGHVDSSHOVVDQVUpSRQVHVRQWHQUHJLVWUpVGDQV OHMRXUQDOGHVDSSHOVVDQVUpSRQVHYRLUSDJH SRXUSOXVGHGpWDLOV /HGpS{WG XQPHVVDJHYR. DOVXUYRWUHUpSRQGHXUYRXVHVWVLJQDOpSDUXQH DODUPHVRQRUHHWOHV\PEROH DSSDUDvWjO p. UDQ$SSX\H]VXU/LUH SRXU DIIL. KHUOHPHVVDJHRXDSSX\H]VXU SRXUDSSHOHUSDUQXPpURWDWLRQUDSLGH YRWUH. HQWUHGHPHVVDJHULHYR. DOHYRLUSDJHVHWSRXUSOXVGHGpWDLOV 1%VLO p. UDQDIIL. KHSOXVLHXUVLQGL. DWHXUVSDUH[HPSOH0HVVDJHVHW 5pSRQGHXUODIRQ. WLRQ/LUH DIIL. KHXQPHQXYRXVSHUPHWWDQWGH. KRLVLU HQWUHGLIIpUHQWHVRSWLRQVGDQVO H[HPSOHSUp. pGHQW0HVVDJHVHW5pSRQ GHXU /RUVTXHYRXVUH. HYH]XQQRXYHDXPHVVDJHGHWH[WH. RXUW606OHWpOpSKRQH pPHWXQHDODUPHVRQRUHHWDIIL. KH $SSX\H]DORUVVXU/LUH SRXU. RQVXO WHUODERvWHGHVPHVVDJHV. RXUWV606 6L . OLJQRWHjO p. UDQYRXVGHYH]VXSSULPHUDXPRLQVXQDQ. LHQPHVVDJH DU. KLYpDYDQWG HQUHJLVWUHUHWGHUH. HYRLUGHQRXYHDX[PHVVDJHV 5HSRUWH]YRXVjODSDJHSRXUSOXVGHGpWDLOV /DTXDQWLWpHWOHW\SHGHVLQGL. DWLRQVVRQWSUpVHQWpVjO p. UDQ $SSX\H]VXU/LUH SRXUYRLUOHVW\SHVGHPHVVDJHVjOLUH8WLOLVH] RX HW SRXUIDLUHGpILOHUOHW\SHGHPHVVDJHSXLVDSSX\H]VXU9DOLGHU SRXUOLUHOH PHVVDJH O KHXUHHWODGDWHUHVWHQWPRPHQWDQpPHQWLQYLVLEOHVjO p. UDQ /RUVTXHO LQGL. DWHXUG XQPHVVDJHG XQPHVVDJHYR. DORXG XQDSSHOVDQVUpSRQVHHVWDIIL. Kp 2SpUDWLRQVJpQpUDOHV &RPSRVLWLRQG XQQXPpURHQPpPRLUH 7RXWQXPpURHQUHJLVWUpVXUOD. DUWH6, 0RXGDQVODPpPRLUHLQWHUQHGXWpOpSKRQH SHXWrWUHUDSSHOpjO p. UDQSRXUrWUH. RPSRVp GHSXLVOHUpSHUWRLUH $SSX\H]VXU1RPV SRXURXYULUOHUpSHUWRLUH 8WLOLVH] RX HW SRXUDWWHLQGUHOHQXPpURVRXKDLWp $SSX\H]VXU SRXU. RPSRVHUOHQXPpUR 9RLUpJDOHPHQW´5pSHUWRLUHVµSDJH GHSXLVODOLVWHGHVGHUQLHUVQXPpURVDSSHOpV /HVGHUQLHUVQXPpURVDSSHOpVVRQW. RQVHUYpVHQPpPRLUHGDQVOHWpOp SKRQH 6L. HVHUYL. HHVWD. WLYpOHVGL[GHUQLHUVQXPpURVG DSSHOVpPLVUHoXVVDQV UpSRQVHHWUHoXVUpSRQGXVRXUHMHWpVTX LOVDLHQWIDLWO REMHWG XQHUpSRQVH RXQRQUHoXVHWD. . HSWpVVRQWHQUHJLVWUpVSDUOHWpOpSKRQHGDQVO RSWLRQ GHPHQXGHMRXUQDOGHVDSSHOV $SSX\H]VXU0HQX 6pOH. WLRQQH]$SSHOV'XUpHV 6pOH. WLRQQH]-RXUQDOGHVDSSHOV 6pOH. WLRQQH]'HUQLHUV. RPSRVpV5HoXVQRQUpSRQGXVRX $SSHOVUHoXV 8WLOLVH] RX HW SRXUDWWHLQGUHOHQXPpURVRXKDLWp $SSX\H]VXU SRXU. RPSRVHUOHQXPpUR 9RLUpJDOHPHQW´$SSHOVHWGXUpHVµSDJH 'HUQLHUVQXPpURV. RPSRVpV / D. . qVUDSLGHDX[GHUQLHUVQXPpURV. RPSRVpVSHXWDXVVLrWUHREWHQXHQDS SX\DQWVXU 'DQVO p. UDQGHYHLOOHOHIDLWG DSSX\HUVXU GHVGHUQLHUVQXPpURV. RPSRVpV 8WLOLVH] RX HW $SSX\H]VXU SRXU. RPSRVHUOHQXPpUR DIIL. KHUDXQHOLVWH SRXUDWWHLQGUHOHQXPpURVRXKDLWp /HVGHUQLHUVQXPpURV. RPSRVpVVRQWVWR. NpVGDQVOHWpOpSKRQHHWQRQGDQVOD. DUWH6, 0 2SpUDWLRQVJpQpUDOHV $SSX\H]VXU SRXUDIIL. KHUOHVGHUQLHUVQXPpURVDSSHOpV 8WLOLVH] RX HW SRXUDWWHLQGUHOHQXPpURVRXKDLWp $SSX\H]VXU SRXU. RPSRVHUOHQXPpURVRXKDLWp GHSXLVOHMRXUQDOGHVDSSHOV 1XPpURWDWLRQUDSLGH 7RXWQXPpURHQUHJLVWUpGDQVOD. DUWH6, 0SHXWrWUHDVVR. LpDX[WRX. KHVGHQXPp URWDWLRQUDSLGH j  $SSX\H]VXUODWRX. KHVRXKDLWpH j HWPDLQWHQH]ODHQIRQ. pH /HQXPpURHVWDIIL. KpjO p. UDQHWHVW. RPSRVpQRUPDOHPHQW 3DUGpIDXW HVWWRXMRXUVDIIH. WpHDXQXPpURGX. HQWUHGHPHVVD JHULHYR. DOH5HSRUWH]YRXVjODSDJHSRXUDIIH. WHUGHVQXPpURV DX[WRX. KHVGHQXPpURWDWLRQUDSLGH 0RGHYLEUHXU &HPRGHSHUPHWG pYLWHUGHGpUDQJHUYRWUHHQWRXUDJHHQGpVD. WLYDQWOHVWRQDOLWpV GHVRQQHULHHWG DODUPH $. WLYDWLRQGXPRGHVLOHQ. LHX[ $SSX\H]VXU 6pOH. WLRQQH]9LEUHXU9LEUHXUVRQQHULHRX9LEUHXUSXLV VRQQHULH HVWDIIL. KpjO p. UDQORUVTXH. HWWHIRQ. WLRQHVWD. WLYpH $SSX\H]VXU 6pOH. WLRQQH]6RQQHULH 'pVD. WLYDWLRQ 6LOHYROXPHGHVRQQHULHHVWj]pURXQPHVVDJHG DYHUWLVVHPHQWDSSDUDvWjO p. UDQ 9RLUpJDOHPHQW´7RQDOLWpV0RGHG DOHUWHDXGLRµSDJH &RXSXUHPL. UR 3HQGDQWXQH. RPPXQL. DWLRQYRXVSRXYH]. RXSHUOHPL. URDILQGHYRXVHQWUHWHQLU HQSULYpDYH. OHVSHUVRQQHVTXLVRQWDYH. YRXVVDQVrWUHHQWHQGXSDUOH. RUUHVSRQ GDQW $. WLYDWLRQGHOD. RXSXUHPL. UR (Q. RXUVGH. RPPXQL. DWLRQ $SSX\H]VXUODWRX. KH HWPDLQWHQH]ODHQIRQ. pH 6pOH. WLRQQH]2XL / L. {QH. OLJQRWDQWH DSSDUDvWUDjO p. UDQ 'pVD. WLYDWLRQGHOD. RXSXUHPL. UR $SSX\H]VXUODWRX. KH HWPDLQWHQH]ODHQIRQ. pH / L. {QH. OLJQRWDQWH GLVSDUDvWHWOHPL. URHVWUpD. WLYp /HPL. URHVWDXWRPDWLTXHPHQWUpD. WLYpORUVTXHYRXVUH. HYH]XQQRXYHODSSHO 5pJODJHGXYROXPH 3RXUUpJOHUOHQLYHDXVRQRUHGHUp. HSWLRQHQ. RXUVGH. RQYHUVDWLRQ $SSX\H]VXU HWXWLOLVH]9RO HW9RO RX HW SRXU DXJPHQWHURXEDLVVHUOHYROXPH. RPPHLQGLTXpjO p. UDQ $WWHQGH]VH. RQGHVSRXUUHYHQLUjO p. UDQSUp. pGHQW 9RLUpJDOHPHQW´5pJODJHVGXYROXPHµSDJH (QYRLGHWRQDOLWpVPXOWLIUpTXHQ. HV'70) /HVWRQDOLWpVPXOWLIUpTXHQ. HV'70)SHUPHWWHQWG XWLOLVHUOHVUpSRQGHXUVWpOpSKR QLTXHVPHVVDJHULHVYR. DOHVVHUYL. HVEDQ. DLUHVSDUWpOpSKRQHHW. &HVWRQDOLWpV SHUPHWWHQWGH. RPPXQLTXHUGHVPRWVGHSDVVHHWGHVQXPpURVGHUDSSHO (QYRLPDQXHO 3RXUHQYR\HUGLUH. WHPHQWGHVWRQDOLWpV'70)GHSXLVOH. ODYLHUSHQGDQW XQH. RPPXQL. DWLRQ $SSX\H]VXUOHVWRX. KHVUHTXLVHV /HVWRQDOLWpVGHWRX. KHVVRQWpPLVHVGDQVO p. RXWHXUHWLPPpGLDWH PHQWHQYR\pHV (QYRLDXWRPDWLTXH 3RXUHQYR\HUXQH. KDvQHGHWRQDOLWpV'70)SHQGDQWXQH. RPPXQL. DWLRQ $SSX\H]VXU 6pOH. WLRQQH]'70)DXWR 6DLVLVVH]OHVQXPpURV'70)jO p. UDQjO DLGHGX. ODYLHURXHQ UDSSHODQWXQQXPpURHQUHJLVWUpGDQVOHUpSHUWRLUHGDQV 1RPV  $SSX\H]VXU2N 8QHIRLVTXHOHVWRQDOLWpVVRQWHQYR\pHV O p. UDQGH. RPPXQL. DWLRQQRUPDOUpDSSDUDvW /HVWRQDOLWpV'70)QHSHXYHQWSDVrWUHHQYR\pHVORUVTX XQDSSHOHVWPLVHQDWWHQWH )RQ. WLRQ3DXVH , OHVWSRVVLEOHGHVDLVLUjO p. UDQGHVQXPpURVGHWpOpSKRQHDYH. XQHVpTXHQ. HGH WRQDOLWpV'70)RXGHOHVHQUHJLVWUHUHQVHPEOHHQPpPRLUHV LOVVRQWVpSDUpVSDU XQH©SDXVHª3RXULQVpUHUXQHSDXVHHQWUHGHVQXPpURVDSSX\H]ORQJXHPHQW VXU /DOHWWUHSDSSDUDvWjO p. UDQ9RXVSRXYH]HQUHJLVWUHUDXWDQWGHSDXVHVTXH YRXVOHVRXKDLWH]DYH. XQPD[LPXPGHj. KLIIUHVVXLYDQWOD. DSD. LWpGHPp PRLUHGHOD. DUWH6, 0HWGXWpOpSKRQH 2SpUDWLRQVJpQpUDOHV 2SWLRQVHQ. RXUVGH. RPPXQL. DWLRQ 0LVHHQDWWHQWHHWUHSULVHG XQDSSHO 3RXUPHWWUHXQDSSHOHQDWWHQWHHQ. RXUVGH. RPPXQL. DWLRQ $SSX\H]VXU 3RXUUHSUHQGUHXQDSSHO $SSX\H]VXU 3RXUpPHWWUHXQVH. RQGDSSHOSHQGDQWTX XQDSSHOHVWHQDWWHQWH 6DLVLVVH]XQQXPpURjO p. UDQ$SSX\H]VXU SRXU. RPSRVHUOH QXPpUR 8QHIRLVTXHODGHX[LqPH. RPPXQL. DWLRQHVWpWDEOLHDSSX\H] VXU SRXUEDV. XOHUHQWUHOHVGHX[DSSHOV 3RXUPHWWUHILQjO DSSHOHQ. RXUVRXjO DSSHOHQDWWHQWHDSSX\H] VXU HWVpOH. WLRQQH]7HUPLQHUHQJDUGHRX7HUPLQHUDSSHO D. WLIGDQVOHPHQX $SSX\H]VXU SRXUPHWWUHILQjO DXWUHDSSHO VDQW5D. . UR. KHUGDQVOHPHQXG RSWLRQV 9RXVSRXYH]pJDOHPHQWPHWWUHHQDWWHQWHUHSUHQGUHHWpPHWWUHXQ GHX[LqPHDSSHOHQ. RXUVGH. RPPXQL. DWLRQHQXWLOLVDQW SRXUDIIL . KHUXQPHQXUpSHUWRULDQWOHVRSpUDWLRQVGp. ULWHV. LGHVVXV)DLWHVGp ILOHUMXVTX jO RSpUDWLRQVRXKDLWpHHWDSSX\H]VXU9DOLGHU YRLU pJDOHPHQW´$SSHOVHQ. RQIpUHQ. HµSDJH 9RXVSRXYH]PHWWUHILQDX[GHX[DSSHOVHQPrPHWHPSVVRLWHQDSSX\DQWVXU VRLWHQ. KRLVLV $YLVG DSSHOSHUPXWDWLRQHWDSSHOVHQ. RQIpUHQ. H $YLVG DSSHO / DYLVG DSSHOHVWXQHIRQ. WLRQGXUpVHDXTXLYRXVSHUPHWGHUH. HYRLUXQ VH. RQGDSSHOSHQGDQWXQH. RPPXQL. DWLRQ&H. LVLJQLILHTXHYRXVSRXYH] PHWWUHXQDSSHOHQ. RXUV©HQDWWHQWHªSHQGDQWTXHYRXVUpSRQGH]jXQ GHX[LqPHDSSHORXTXHYRXVHQpPHWWH]XQ 3RXUD. WLYHURXGpVD. WLYHUOHVHUYL. HG DYLVG DSSHOV $SSX\H]VXU0HQX 6pOH. WLRQQH]6HUYL. HV*60 6pOH. WLRQQH]$YLVG DSSHO 6pOH. WLRQQH]$. WLYHURX$QQXOHU$SUqVXQpWDWG DWWHQWHYRWUH GHPDQGHHVWHQYR\pHDXUpVHDXYRWUHRSpUDWLRQHVW. RQILUPpHj O p. UDQ $SSX\H]VXU6RUWLU SRXUUHYHQLUjO p. UDQSUp. pGHQWRXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH /RUVTXHYRXVUH. HYH]XQGHX[LqPHDSSHOYRXVSRXYH]HQWHQGUHXQGRX (Q. DVGHUp. HSWLRQG XQGHX[LqPHDSSHO EOHELSjO p. RXWHXUXQHDQLPDWLRQDSSDUDvWDLQVLTXHOHQXPpURGHWpOp SKRQH$SSX\H]VXU SRXUUpSRQGUHjO DSSHOHWPHWWUHHQDWWHQWHOD SUHPLqUH. RPPXQL. DWLRQRXDSSX\H]VXU5HMHWHU SRXUUHMHWHUO DSSHO HWUHQYR\HUODWRQDOLWpGHOLJQHR. . XSpHjO DSSHODQW$SSX\H]VXU SRXU EDV. XOHUHQWUHOHVGHX[DSSHOVHQ. RXUV8WLOLVH]OHVWRX. KHV HW SRXU PHWWUHILQjO XQGHVDSSHOVRXDX[GHX[. RPPHGp. ULW. LGHVVXV $SSHOVHQ. RQIpUHQ. H &HWWHIRQ. WLRQYRXVSHUPHWG pPHWWUHGHUH. HYRLUGHGHX[j. LQTDSSHOVVL PXOWDQpPHQWWRXVOHV. RUUHVSRQGDQWVSRXYDQW. RPPXQLTXHUOHVXQV DYH. OHVDXWUHV 6DLVLVVH]XQDXWUHQXPpURjO p. UDQHWDSSX\H]VXU /HSUH PLHUDSSHOHVWPLVHQDWWHQWHSHQGDQWTXHODGHX[LqPH. RPPX QL. DWLRQHVWpWDEOLH $SSX\H]VXU SRXUDIIL. KHUOHPHQXVXLYDQW 2SWLRQ '70)DXWR 3HUPXWHU 5pXQLU 'HV. ULSWLRQ 3HUPHWG HQYR\HUXQH. KDvQH'70)XQLTXHPHQWjO DSSHO D. WLI 3HUPHWGHEDV. XOHUHQWUHO DSSHOD. WLIHWO DSSHOHQDWWHQWH 5pXQLWO DSSHOD. WLIHWO DSSHOHQDWWHQWHSRXUpWDEOLUXQ DSSHOHQ. RQIpUHQ. HPXOWLSDUWLHV &RXSHUPL. UR &RXSHRXUpWDEOLWOHPL. UR $. WLYHUPL. UR 7HUPLQHUHQJDUGH 0HWILQjO DSSHOHQDWWHQWH 7HUPLQHUO DSSHO 0HWILQjO DSSHOD. WLIHWUpWDEOLWOD. RPPXQL. DWLRQSRXU O DSSHOHQDWWHQWH D. WLI 0HWILQjWRXVOHVDSSHOV 5D. . UR. KHU 9RXVSHUPHWGHVpOH. WLRQQHUHWG DYRLUXQH. RQYHUVDWLRQ 6 LVROHUDYH. SULYpHDYH. XQGHVSDUWL. LSDQWVGHO DSSHOHQ. RQIpUHQ. H HQPHWWDQWOHVDXWUHV. RUUHVSRQGDQWVHQDWWHQWH *DUGHU5HSUHQGUH 0HWHQDWWHQWHRXUHSUHQGO DSSHOHQ. RQIpUHQ. H 9RXVSHUPHWGHVpOH. WLRQQHUHWGHPHWWUHILQjOD 7HUPLQHUXQ . RPPXQL. DWLRQDYH. XQGHVSDUWL. LSDQWVGHO DSSHOHQ DSSHO . RQIpUHQ. H &HVIRQ. WLRQVDSSDUDLVVHQWGDQVOHPHQXG RSWLRQVGqVTX LO\DSOXV GHGHX[DSSHOVHQ. RQIpUHQ. H 3HQGDQWO DSSHOHQ. RQIpUHQ. HO p. UDQ. RQILUPHHWDIIL. KHOHVD. WLRQV TXHYRXVDYH]VpOH. WLRQQpHVGDQVOHPHQXG RSWLRQV 3RXUOHVDERQQpVDXVHUYL. HGHGHX[LqPHOLJQHLOQ HVWSDVSRVVLEOHGHUpXQLUODOLJQHHWOD OLJQH GDQVXQDSSHOHQ. RQIpUHQ. H3RXUSOXVG LQIRUPDWLRQVYRLU´3DUDPpWUDJHGXWpOpSKRQH² SHUVRQQDOLVDWLRQµSDJHV 2SWLRQVHQ. RXUVGH. RPPXQL. DWLRQ ePHWWH]XQDSSHOHWpWDEOLVVH]XQH. RPPXQL. DWLRQQRUPDOH SXLVDSSX\H]VXU /HVPHQXV 9RWUHWpOpSKRQHGLVSRVHG XQJUDQGQRPEUHGHIRQ. WLRQVID. LOHPHQWD. . HVVLEOHVJUk . HDXPHQX *Uk. HjVD. DUWH6, 0YRWUHWpOpSKRQHSHXWpJDOHPHQWGpWH. WHUHWDIIL. KHUOHVVHUYL. HV IRXUQLVSDUYRWUHRSpUDWHXURXVXSSULPHU. HX[DX[TXHOVYRXVQ rWHVSDVDERQQp $. . qVDX[PHQXV 3DUVRX. LGH. RPPRGLWpYRWUHWpOpSKRQHYRXVSHUPHWG D. . pGHUGLUH. WHPHQWGH SXLVO p. UDQGHYHLOOHjWRXVOHVQXPpURVHQUHJLVWUpVGDQVOHUpSHUWRLUHHQDSSX\DQW VXU1RPV 3RXUD. . pGHUDXPHQXSULQ. LSDOGHSXLVO p. UDQGHYHLOOHDSSX\H]VXU 0HQX 8WLOLVH]OHVWRX. KHV RX HW SRXUIDLUHGpILOHUOHPHQXYHUVOHKDXWHWYHUVOH EDV6pOH. WLRQQH]OHVRSWLRQVGHPHQXHQDSSX\DQWVXU 9DOLGHU $SSX\H]VXU 6RUWLU SRXUUHYHQLUjXQPHQXSUp. pGHQW3RXUTXLWWHUOHPHQXDSSX\H]ORQ JXHPHQWVXU6RUWLU RXDSSX\H]VXU VLDX. XQDSSHOQ HVWHQ. RXUV 2UJDQLVDWLRQGXPHQX 1RPV 5pSHUWRLUHVXUOD 6, 0HWOHVQXPpURV GHWpOpSKRQH 0HQX 6HUYL. HVUpVHDX RX $SSOL. DWLRQV 6HUYL. HV , QIRUPDWLRQV $SSHOHU 1XPpUR $OHUWHDXGLR &RQVXOWHU $MRXWHUQRP (WDWGHVUpSHUWRLUHV 0HVQXPpURV 1XPpURVIL[HV 5pSHUWRLUHVWRQDOLWpV %RLWHGHUp. HSWLRQ %RLWHG HQYRL &UpHUPHVVDJH 3DUDPqWUHV $OHUWHDXGLR -RXUQDOGHVDSSHOV &RPSWHXUVG DSSHOV &RXWVGHVDSSHOV 6pOH. WLRQGHOLJQH 5pSRQGHXU RX 5pSHUWRLUHV RX 0HVVDJHV RX $SSHOV'XUpHV RX 6HUYL. HV*60 RX 5HQYRLVG DSSHOV $YLVG DSSHO (QYRLGHPRQQXPpUR 5p. HSWLRQ, 'DSSHODQW *HVWLRQGHVUpVHDX[ , QWHUGL. WLRQVG DSSHOV *URXSHVSULYpV (WDW 7\SHVGHPHVVDJHV $OHUWHDXGLR /DQJXH 9HUURXLOOHUOH. ODYLHU /DQJXH (GLWLRQ 5pJODJHVDXGLR $IIL. KDJH )RQ. WLRQVWRX. KHV )RQ. WLRQVDXWR )RQ. WLRQVGHVp. XULWp +HXUHGDWH 5pJODJHVSDUGpIDXW %OR. QRWHV &RQYHUVLRQGHGHYLVHV 5pYHLO $OOXP([WLQ. WDXWR , QIRVGLIIXVpHV RX 5pJODJHV RX %XUHDX RX RX &DO. XODWUL. H RX -HX[ RX %UDLQ'UDLQ 3XVK 2SWLRQV 3DJHG D. . XHLO 0HVIDYRULV $XWUHVLWH 3DUDPqWUHV , QWHUQHW / D. . qVHWO DIIL. KDJHGDQVOHPHQXGH. HVIRQ. WLRQVGpSHQGHQWGHYRWUHDERQQH PHQWHWGHVVHUYL. HVIRXUQLVSDUYRWUHRSpUDWHXU /HVPHQXV $JHQGD &DOHQGULHU 1RXYHOpYpQHPHQW 6XSSULPHUUGYp. KXV 9RLUOHVpYpQHPHQWV 6DLVLHGHWH[WH 3RXU. HUWDLQHVIRQ. WLRQVO HQUHJLVWUHPHQWGHQRPVHQPpPRLUHRXO HQYRLGHPHV VDJHVGHWH[WH606SDUH[HPSOHLOHVWQp. HVVDLUHGHSRXYRLUVDLVLUHWpGLWHUGXWH[ WHjO p. UDQO p. UDQOHWH[WHjVDLVLUHVWVLJQDOpSDU HQPRGHPLQXV. XOHHW SDU HQPRGHPDMXV. XOH9RXVSRXYH]DORUVVDLVLURXpGLWHUGLUH. WHPHQWGHV . DUD. WqUHVDOSKDEpWLTXHVHWQXPpULTXHVjO DLGHGX. ODYLHU/HV. DUD. WqUHVGLVSRQL EOHVTXLGpSHQGHQWGHODODQJXHXWLOLVpHVRQWLQGLTXpV. LGHVVRXV 7RX. KH &DUD. WqUH 0LQXV. XOHV 0DMXV. XOHV #" DE. jo GHIpq JKL MNO PQR STUV WXY Z[\] $%& '()e *+, -. / 012 3456 789 :;<= $SSX\H]EULqYHPHQWVXU. HWWHWRX. KHSRXUIDLUHSDVVHUODOHWWUH VXLYDQWHGHPLQXV. XOHHQPDMXV. XOHHWYL. HYHUVD $SSX\H]ORQJXHPHQWVXU. HWWHWRX. KHSRXUIDLUHSDVVHUWRXWHVOHV OHWWUHVVXLYDQWHVGHPLQXV. XOHVHQPDMXV. XOHVHWYL. HYHUVD $SSX\H]EULqYHPHQWVXU. HWWHWRX. KHSRXUVDLVLUXQ. DUD. WqUH G HVSD. HPHQW $SSX\H]ORQJXHPHQWSRXUD. . pGHUDX[. DUD. WqUHVVSp. LDX[ B# !£¢ $SSX\H]EULqYHPHQWVXU. HWWHWRX. KHSRXUGpSOD. HUOH. XUVHXU GDQVOHWH[WHG XQ. DUD. WqUHYHUVODGURLWH $SSX\H]ORQJXHPHQWVXU. HWWHWRX. KHSRXUGpSOD. HUOH. XUVHXU GDQVOHWH[WHG XQHOLJQHYHUVOHEDV %DV. XOHHQWUHOHVPRGHVGHVDLVLHGHWH[WH0XOWLWDSHW7 , OH[LVWHGHX[PRGHVSRVVLEOHVSRXUVDLVLUGHV. DUD. WqUHVHWGHVQXPpURVjO p. UDQ /HPRGHGHVDLVLH0XOWLWDSRXOHPRGHLQWXLWLIDSSHOpVDLVLHGHWH[WH7TXLVHWUD GXLWSDUXQQRPEUHUpGXLWGHIUDSSHVVXUOH. ODYLHUSDUUDSSRUWDXPRGH0XOWLWDS /HPRGH0XOWLWDS & HVWOHPRGHSDUGpIDXW $SSX\H]EULqYHPHQWVXUQ LPSRUWHTXHOOHWRX. KHSRXUDIIL. KHUOHSUHPLHU . DUD. WqUHDVVR. Lpj. HWWHWRX. KH/HVDXWUHV. DUD. WqUHVGLVSRQLEOHVVRQW pJDOHPHQWLQGLTXpVGDQVOHKDXWGHO p. UDQ 3RXUVDLVLUGXWH[WHRXXQQXPpURDSSX\H]VXUODWRX. KH. RUUHVSRQGDQW DX. DUD. WqUHUHTXLVHQDSSX\DQWSOXVLHXUVIRLVVLQp. HVVDLUHMXVTX j. HOH . DUD. WqUHVRXKDLWpDSSDUDLVVHjO p. UDQ $SSX\H]ORQJXHPHQWVXUXQHWRX. KHSRXUVDLVLUGLUH. WHPHQWOH. KLIIUH. RU UHVSRQGDQWj. HWWHWRX. KH 6LGHX[. DUD. WqUHVVRQWDVVR. LpVjODPrPHWRX. KHDWWHQGH]TXHOHKDXW GHO p. UDQVRLWHIID. pRXDSSX\H]VXU DYDQWG DSSX\HUGHQRXYHDXVXU ODPrPHWRX. KH 9RXVSRXYH]. RUULJHUOHVHUUHXUVGHVDLVLHHQDSSX\DQWEULqYHPHQWVXU (IID. HU $SSX\H]ORQJXHPHQWVXU. HWWHWRX. KHSRXUHIID. HUO HQVHPEOH GXWH[WH 8WLOLVH] SRXUSRVLWLRQQHUOH. XUVHXUGDQVOHWH[WHDILQG LQVpUHUGHV. D UD. WqUHVRXHIIH. WXHUGHV. RUUH. WLRQV $SSX\H]ORQJXHPHQWVXU SRXUD. . pGHUDX[. DUD. WqUHVVSp. LDX[Up SDUWLVVXUWURLVSDJHV/ DIIL. KDJHHWODVpOH. WLRQGH. HV. DUD. WqUHVHVWGp . ULWH. LGHVVRXV /DVpOH. WLRQHWO LQVHUWLRQG XQ. DUD. WqUHGDQVOHWH[WHVHIDLW. RPPHVXLW /HV. DUD. WqUHVVRQWGLVSRVpVGHODPrPHIDoRQTXHOHVWRX. KHV j GX. ODYLHU 3DUH[HPSOHODWRX. KH SHUPHWWUDLWGHVpOH. WLRQQHUHWGHO LQ VpUHUGLUH. WHPHQWGDQVOHWH[WH 8WLOLVH] RX SRXUSDVVHUjODSDJHVXLYDQWH ([HPSOH 3RXUDIIL. KHU©&KDWªjO p. UDQ $SSX\H]VXU0HQX HWVpOH. WLRQQH]0HVVDJHV 6pOH. WLRQQH]&UpHUPHVVDJH6pOH. WLRQQH]0HVVDJH $SSX\H]ORQJXHPHQWVXU MXVTX j. HTXH DSSDUDLVVHHQKDXW GHO p. UDQSXLVDSSX\H]EULqYHPHQWWURLVIRLVVXU / p. UDQDIIL. KH DORUV& $WWHQGH]TXHOHV. DUD. WqUHVGLVSRQLEOHVGLVSDUDLVVHQWGHO p. UDQ DSSX\H]ORQJXHPHQWVXU MXVTX j. HTXH DSSDUDLVVHHQKDXW GHO p. UDQSXLVEULqYHPHQWGHX[IRLVVXU / p. UDQDIIL. KHK $SSX\H]EULqYHPHQWXQHIRLVVXU O p. UDQDIIL. KHD $SSX\H]EULqYHPHQWXQHIRLVVXU O p. UDQDIIL. KHW/HPRW&KDW HVWPDLQWHQDQWDIIL. KpjO p. UDQ $SSX\H]VXU SRXUTXLWWHU. HWH[HPSOH /HVPHQXV 0RGH7HJL. 7 $SSX\H]VXUODWRX. KH SRXUSDVVHUGXPRGHGHVDLVLHGHWH[WHQRUPDOH 0XOWLWDSDXPRGH7 0DU. KHjVXLYUHXQHIRLVHQPRGH7 $SSX\H]XQHVHXOHIRLVVXUODWRX. KH. RUUHVRQGDQWjODOHWWUHVRX KDLWpH1HYRXVODLVVH]SDVWURXEOHUVLOH. DUD. WqUHGpVLUpQ HVWSDV DIIL. KpVXUOH. KDPS /HPRWD. WLI. KDQJHDX. RXUVGHODIUDSSHSRXUVXLYH]SDU . RQVpTXHQWYRWUHIUDSSHMXVTX jODILQGXPRW 6LYRWUHPRWQ HVWSDVDIIL. KpDSSX\H]VXU SRXUUH. KHU. KHU G DXWUHVPRWV. RUUHVSRQGDQWV 6LYRWUHPRWQ HVWSDVUH. RQQXDSSX\H]VXU SRXUD. WLYHUOH PRGHGHIUDSSHQRUPDOH0XOWLWDSDILQGH. RPSOpWHUOHPRW 8WLOLVH] SRXUSRVLWLRQQHUOH. XUVHXUGDQVOHWH[WHDILQG LQVpUHU GHV. DUD. WqUHVRXHIIH. WXHUGHV. RUUH. WLRQV 7RX. KH (IID. HU $SSXLSURORQJp $. WLRQ &RPPXWDWLRQ0DMXV. XOHV0LQXV. XOHV 6XSSUHVVLRQRXUHWRXUDUULqUH 6DLVLHGHQXPpURV (VSD. H 3UpVHQWDWLRQG XQDXWUHPRW 3UpVHQWDWLRQGHV\PEROHVGHSRQ. WXDWLRQ &RPPXWDWLRQHQWUHOHPRGHQRUPDOHWOH PRGH7 &RQVHLOVHWRSpUDWLRQ ([HPSOH 3RXUDIIL. KHU . DUG jO p. UDQ $SSX\H]VXU0HQX SXLVVpOH. WLRQQH]0HVVDJHV 6pOH. WLRQQH]&UpHUPHVVDJH6pOH. WLRQQH]0HVVDJH $SSX\H]VXU MXVTX j. HTXH DSSDUDLVVH $SSX\H]VXU DDSSDUDvWjO p. UDQ $SSX\H]VXU . DDSSDUDvWjO p. UDQ $SSX\H]VXU . DUDSSDUDvWjO p. UDQ $SSX\H]VXU . DVHV DIIL. KH 6LOHPRWDIIL. KpQ HVWSDV. HOXLVRXKDLWpDSSX\H]VXU DXWDQWGHIRLV TXHQp. HVVDLUHSRXUDIIL. KHU. DUG $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 'HV. ULSWLRQGHVIRQ. WLRQVHWGHV SDUWL. XODULWpVGXPHQX 6HUYL. HVUpVHDX 9RWUHRSpUDWHXUSHXWPHWWUHjYRWUHGLVSRVLWLRQGHVVHUYL. HVHWGHVQXPpURVGH WpOpSKRQHGH. RQWD. WLQWpUHVVDQWV&HVVHUYL. HVHWQXPpURVGHWpOpSKRQHVRQW HQUHJLVWUpVVXUYRWUH. DUWH6, 0HWVRQWDMRXWpVDXPHQXVRXVODUXEULTXH6HUYL. HV UpVHDXDXGpEXWGXPHQX. RQWD. WH]YRWUHRSpUDWHXUSRXUSOXVG LQIRUPDWLRQV / RSpUDWHXUSHXWPHWWUHjYRWUHGLVSRVLWLRQ. HVVHUYL. HVHW. HVQXPpURVGHWURLV IDoRQVGLIIpUHQWHV %RvWHjRXWLOV6, 0 &HWWHPpWKRGHSHUPHWG D. . pGHUDXWRPDWLTXHPHQWjGHVVHUYL. HVDVVR. LpV jYRWUHUpVHDXHWQRQjYRWUHWpOpSKRQH&HVVHUYL. HVVRQWGpSHQGDQWVGH OD. DUWH6, 0 1XPpURVSUpSURJUDPPpV6'1HQUHJLVWUpVVXUOD. DUWH6, 0 1XPpURVG LQIRUPDWLRQ /D. DUWH6, 0SHXW. RQWHQLUMXVTX jQXPpURVSUpSURJUDPPpVTXLQH SHXYHQWSDVrWUHPRGLILpVSDUYRXV /LVWHRXPHQXSHUPHWWDQWG DSSHOHUOHVVHUYL. HVG LQIRUPDWLRQRXGXUp VHDXGLVSRQLEOHVVXUYRWUHUpVHDX &HUWDLQVRSpUDWHXUVVRQWHQPHVXUHGHIRXUQLUOHVGHX[W\SHVGHVHUYL. HV. LGHVVXV VXUODPrPH. DUWH6, 0DXTXHO. DVO RSWLRQ6HUYL. HVUpVHDXDSSDUDvWVRXVGHX[ UXEULTXHVGHPHQX$SSOL. DWLRQVHW6HUYL. HVRX, QIRUPDWLRQV 0HVVDJHULHYR. DOH 9RWUHRSpUDWHXUSHXWDVVXUHUXQVHUYL. HGHPHVVDJHULHYR. DOHTXLIRQ. WLRQQH. RP PHXQUpSRQGHXU&RQWD. WH]YRWUHRSpUDWHXUSRXUSOXVG LQIRUPDWLRQV 6LOHQXPpURGX. HQWUHGHPHVVDJHULHYR. DOHQ HVWSDVDXWRPDWLTXHPHQW HQUHJLVWUpGDQVYRWUH. DUWH6, 0. HOXL. LGRLWrWUHHQUHJLVWUp PDQXHOOHPHQW $SSX\H]VXU0HQX 6pOH. WLRQQH]5pSRQGHXU 6pOH. WLRQQH]1XPpURO LQYLWHGHO p. UDQVDLVLVVH]OHQXPpUR PDQXHOOHPHQWRXGHSXLVODPpPRLUH $SSX\H]VXU2N SRXUYDOLGHUYRWUHVDLVLH $SSX\H]VXU6RUWLU SRXUUHYHQLUjO p. UDQSUp. pGHQWRXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH YR. DOHGRLWrWUHHQUHJLVWUpVpSDUpPHQWSRXUODGHX[LqPHOLJQH/HQXPpURGHPHVVDJHULHYR. DOH HVWDXWRPDWLTXHPHQWDWWULEXpjODWRX. KHYRLU´1XPpURWDWLRQUDSLGHµSDJH 6LYRXVrWHVDERQQpDXVHUYL. HGHGHX[LqPHOLJQH/LJQHOHQXPpURGX. HQWUHGHPHVVDJHULH $. WLYDWLRQGpVD. WLYDWLRQGHO DODUPHGHPHVVDJH /HVPHQXV (QUHJLVWUHPHQWGXQXPpURG XQ. HQWUHGHPHVVDJHULHYR. DOH 6LYRXVVRXKDLWH]TXHOHWpOpSKRQHpPHWWHXQHWRQDOLWpSRXUYRXVVLJQDOHU ODUp. HSWLRQG XQPHVVDJHGDQVYRWUHUpSRQGHXU $SSX\H]VXU0HQX 6pOH. WLRQQH]5pSRQGHXU 6pOH. WLRQQH]$OHUWHDXGLR6pOH. WLRQQH]$. WLYpRX'pVD. WLYp $SSX\H]VXU6RUWLU SRXUUHYHQLUjO p. UDQSUp. pGHQWRXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH $SSHOGX. HQWUHGHPHVVDJHULHYR. DOHSRXU. RQVXOWHUOHVPHVVDJHV 'HX[PpWKRGHVSHXYHQWrWUHXWLOLVpHV 'qVUp. HSWLRQG XQPHVVDJHGDQVYRWUHUpSRQGHXUYRXVSRXYH]. RP SRVHUGLUH. WHPHQWOHQXPpURGX. HQWUHGHPHVVDJHULHYR. DOH $SSX\H]ORQJXHPHQWVXU / DXWUHPpWKRGHHVWODVXLYDQWH $SSX\H]VXU0HQX 6pOH. WLRQQH]5pSRQGHXU 6pOH. WLRQQH]$SSHOHU /DQXPpURWDWLRQHVWHIIH. WXpH. RPPHSRXUXQDSSHOQRUPDO 6LOHQXPpURGHUpSRQGHXUQ HVWSDVHQUHJLVWUpORUVTXH$SSHOHUHVWVpOH. WLRQQpOHWpOpSKRQHYRXV GHPDQGHjO p. UDQGHVDLVLUOHQXPpURGX. HQWUHGHPHVVDJHULHYR. DOH3UR. pGH]. RPPHGp. ULWGDQVOD VH. WLRQ´(QUHJLVWUHPHQWGXQXPpURG XQ. HQWUHGHPHVVDJHULHYR. DOHµSDJH 5pSHUWRLUHV /D. DUWH6, 0HWOHWpOpSKRQH. RPSRUWHQWXQHPpPRLUHLQWHUQHSHUPHWWDQWG HQUH JLVWUHUGHVQRPVHWGHVQXPpURVGHWpOpSKRQH&HWWHPpPRLUHHVWDSSHOpHOHUp SHUWRLUH/HWpOpSKRQHSHXWVWR. NHU. KLIIUHVHW. DUD. WqUHVDOSKDEpWLTXHVGDQV . KD. XQGHVHVHPSOD. HPHQWVGHPpPRLUH/HWpOpSKRQHUH. RQQDvWpJDOHPHQW OD. DUWH6, 0TXLSHXW. RQWHQLUMXVTX jHPSOD. HPHQWVGHPpPRLUHPDLV. HWWH . DSD. LWpGpSHQGGHOD. DUWH6, 0HOOHPrPH/HVHPSOD. HPHQWVGHPpPRLUHGXWp OpSKRQHHWGHOD. DUWH6, 0VRQWLQWHU. RQQH. WpV/DIRQ. WLRQGHUDSSHOYDUH. KHU. KHU GDQVODPpPRLUHGHOD. DUWH6, 0HWGDQVODPpPRLUHGXWpOpSKRQH (QUHJLVWUHPHQWGHQRPVHWGHQXPpURVGHWpOpSKRQH /HVQRPVHWQXPpURVGHWpOpSKRQHSHXYHQWrWUHHQUHJLVWUpVGLUH. WHPHQWGDQV OHUpSHUWRLUHRX. RSLpVGHSXLVG DXWUHV]RQHVG HQUHJLVWUHPHQWWHOOHVTXHOHV PHVVDJHV606OHEOR. QRWHVODOLVWHGHVGHUQLHUVQXPpURVDSSHOpVHW. , OHVWUH. RPPDQGpG HQUHJLVWUHUOHVQXPpURVDXIRUPDWLQWHUQD WLRQDOHQXWLOLVDQWOHSUpIL[H©ªOH. RGHGXSD\VHWOHQXPpURGH WpOpSKRQH'H. HIDLWYRXVVHUH]. HUWDLQGHSRXYRLU. RPSRVHUOH QXPpURDXVVLELHQGDQVYRWUHSD\VTX jO pWUDQJHUYRLUSDJH SRXUODVDLVLHHWO LGHQWLIL. DWLRQGHVLQGL. DWLIVLQWHUQDWLRQDX[ /DVDLVLHGHWH[WHHVWGp. ULWHjODSDJH , OH[LVWHWURLVPpWKRGHVSRXUVDLVLUGHVQXPpURVGHWpOpSKRQHGDQVOHUpSHU WRLUH 'LUH. WHPHQWGHSXLVO p. UDQGHYHLOOH 6DLVLVVH]OHQXPpUR$SSX\H]VXU6DXYHU 6pOH. WLRQQH]5pSHUWRLUHWpOpSKRQHRX5pSHUWRLUH. DUWH6, 0 &RQILUPH]OHQXPpURHQDSSX\DQWVXU2N 6DLVLVVH]OHQRPVLQp. HVVDLUHHWDSSX\H]VXU2N /D. RQILU PDWLRQGHYRWUHVDLVLHHWOHVHPSOD. HPHQWVOLEUHVDSSDUDLVVHQW EULqYHPHQWjO p. UDQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH $SSX\H]VXU0HQX 6pOH. WLRQQH]5pSHUWRLUHV 6pOH. WLRQQH]$MRXWHUQRP6pOH. WLRQQH]5pSHUWRLUHWpOp SKRQHRX5pSHUWRLUH. DUWH6, 0 6DLVLVVH]OHQXPpURHWDSSX\H]VXU2N 6DLVLVVH]OHQRPHW DSSX\H]VXU2N /D. RQILUPDWLRQGHYRWUHVDLVLHHWOHVHPSOD . HPHQWVOLEUHVDSSDUDLVVHQWEULqYHPHQWjO p. UDQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH O DLGHGXPHQX 'HSXLVG DXWUHVHPSOD. HPHQWVGHPpPRLUH /HVQXPpURVHQUHJLVWUpVGDQVODOLVWHGHVGHUQLHUVQXPpURVDSSHOpVUHoXV UpSRQGXVUHVWpVVDQVUpSRQVHGDQVOHEOR. QRWHVHWGDQVOHVPHVVDJHV 606SHXYHQWWRXVrWUH. RSLpVGDQVOHUpSHUWRLUH $IIL. KH]XQQXPpURSURYHQDQWG XQHGHVVRXU. HVLQGLTXpHV. L GHVVXVDSSX\H]VXU 6XLYH]OHVLQVWUX. WLRQVjO p. UDQ. RPPHSRXUOHSRLQW. LGHVVXV . DUD. WqUH$SSX\H]ORQJXHPHQWSRXUHIID. HUWRXWO p. UDQ /HV. DUD. WqUHV 3SDXVHHWBSHXYHQWrWUHHQUHJLVWUpVDYH. GHVQX PpURV6LOHUpSHUWRLUHGHOD. DUWH6, 0RXGXWpOpSKRQHHVWVDWXUpXQPHV VDJHG DYHUWLVVHPHQWDSSDUDvWjO p. UDQORUVGHODVpOH. WLRQGXUpSHUWRLUH 3HQGDQWODVDLVLHGXQXPpURHWGXQRPDSSX\H]EULqYHPHQWVXU(IID. HUSRXUHIID. HUOHGHUQLHU (VSD. HOLEUHGDQVOHVUpSHUWRLUHV 3RXUGpWHUPLQHUOHQRPEUHG HPSOD. HPHQWVOLEUHVHQPpPRLUHGDQVOHUp SHUWRLUHGHOD. DUWH6, 0RXGXWpOpSKRQH $SSX\H]VXU0HQX 6pOH. WLRQQH]5pSHUWRLUHV 6pOH. WLRQQH](WDWGHVUpSHUWRLUHVHWXWLOLVH] RX HW SRXUDIIL. KHUOHVPpPRLUHVOLEUHVVXUOHWpOpSKRQHRXOD. DUWH6, 0 $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH /H. DVp. KpDQWOHVPpPRLUHVOLEUHVGHODOLVWHGHQXPpURVIL[HVVRQWpJDOHPHQWLQGLTXpHV $IIL. KDJHHWDSSHOGHVQXPpURVGXUpSHUWRLUH /HVHQWUpHVGXUpSHUWRLUHSHXYHQWrWUHUDSSHOpHVjO p. UDQSRXUrWUHpGLWpHV . RSLpHVGpSOD. pHVRXDSSHOpHVYHUVOHWpOpSKRQHRXOD. DUWH6, 0RXYL. HYHUVD , OH[LVWHGHX[PpWKRGHVSRXUDIIL. KHUHWDSSHOHUOHVQXPpURVGXUpSHUWRLUH 'LUH. WHPHQWGHSXLVO p. UDQGHYHLOOH $SSX\H]VXU1RPV SRXUDIIL. KHUOHUpSHUWRLUH 8WLOLVH] RX HW SRXUIDLUHGpILOHUODOLVWH /HVPHQXV O DLGHGXPHQX $SSX\H]VXU0HQX HWVpOH. WLRQQH]5pSHUWRLUHV 6pOH. WLRQQH]&RQVXOWHU $SSX\H]VXU2N RXVDLVLVVH]OHVSUHPLqUHVOHWWUHVPD[LPXP GXQRPVRXKDLWpSXLVDSSX\H]VXU2N 6LDX. XQHLQLWLDOHQ HVWVDLVLHO p. UDQDIIL. KHODSUHPLqUHHQWUpHGXUpSHU WRLUHSDURUGUHDOSKDEpWLTXH/DOLVWHGHVHQWUpHVGXUpSHUWRLUHHVWDIIL . KpHGDQVO RUGUHDOSKDEpWLTXHDYH. OHQXPpURGHWpOpSKRQHTX HOOHVRLW HQUHJLVWUpHVXUOD. DUWH6, 0RXGDQVODPpPRLUHLQWHUQHGXWpOpSKRQH $SSX\H]VXU SRXU. RPSRVHUOHQXPpUR $SSX\H]VXU RX HW SRXUIDLUHGpILOHUOHUpSHUWRLUH 3RXUDOOHUGLUH. WHPHQWjXQHDXWUHHQWUpHDSSX\H]VXUODWRX. KHDOSKD EpWLTXH. RUUHVSRQGDQWjO LQLWLDOHGXQRPUH. KHU. Kp3DUH[HPSOHSRXUDO OHUGLUH. WHPHQWDX[HQWUpHV. RPPHQoDQWSDU©1ªDSSX\H]GHX[IRLVVXU HWXWLOLVH]OHVWRX. KHVGHGpILOHPHQWSRXUVpOH. WLRQQHUYRWUHHQWUpH /DWRX. KH SHUPHWG D. . pGHUDXPHQXG RSWLRQVVXLYDQW 2SWLRQ )RQ. WLRQ 0RGLILHU 0RGLILHOHQRPHWOHQXPpUR 6XSSULPHU 6XSSULPHO HQWUpH &RSLHO HQWUpHYHUVODPpPRLUHGHOD. DUWH6, 0RXGXWpOpSKRQH &RSLHU RXYL. HYHUVD/ HQWUpHSHXWrWUHPRGLILpHDYDQWG rWUH. RSLpH 'pSOD. HO HQWUpHGDQVXQDXWUHHPSOD. HPHQW/ HQWUpHSHXW 'pSOD. HU rWUHPRGLILpHDYDQWG rWUHGpSOD. pH $SSHOHU $SSHOOHOHQXPpURDIIL. Kp $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH $IIL. KDJHGHYRWUHQXPpUR 6L. HWWHRSWLRQHVWGLVSRQLEOHGDQVOD6, 0OHWpOpSKRQHSHXWDIIL. KHUYRWUH QXPpURSULQ. LSDOGH©/LJQHªGHYRWUHWpOpSKRQHPRELOHOHQXPpURGH WpOpSKRQHGHYRWUH/LJQHHWYRVQXPpURVGHID[HWGHWUDQVIHUWGHGRQ QpHV6LQRQLOVSHXYHQWrWUHVDLVLVPDQXHOOHPHQW9RXVSRXYH]pJDOHPHQW OHXUDWWULEXHUGHVQRPV/DOLJQHSDUH[HPSOHSHXWrWUHDSSHOpH©%X UHDXªHW. 3RXUDIIL. KHUQRPPHUHWpGLWHUYRVSURSUHVQXPpURV $SSX\H]VXU0HQX 6pOH. WLRQQH]5pSHUWRLUHV 6pOH. WLRQQH]0HVQXPpURV/HQXPpURGHWpOpSKRQHPRELOHGH OD/LJQHHVWDIIL. Kp 8WLOLVH] RX HW SRXUYLVXDOLVHUOHVQXPpURVGHOLJQHGH WUDQVIHUWGHGRQQpHVHWGHID[VLGLVSRQLEOHGDQVOD6, 0 3RXUDMRXWHURXPRGLILHUXQQRPRXXQQXPpURDSSX\H]VXU (GLWHU $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 1XPpURVG DSSHOIL[HV)'1 / DSSHOIL[HHVWXQHIRQ. WLRQTXLUHVWUHLQWOHVDSSHOVpPLVDX[QXPpURV ©IL[HVªRXDX[©SUpIL[HVªPpPRULVpVGDQVOHV. DUWHV6, 0TXLVXSSRUWHQW . HWWHIRQ. WLRQ6LHOOHHVWD. WLYpHLOHVWLPSRVVLEOHGH. RPSRVHUXQQXPpUR TXLQHVHWURXYHSDVGDQVODOLVWH/HQRPEUHPD[LPDOGHQXPpURV)'1HQ UHJLVWUpVGpSHQGGHOD. DSD. LWpGHOD. DUWH6, 0/HUHQYRLG DSSHOVHWO HQYRL GHPHVVDJHV606YHUVGHVQXPpURVTXLQHVRQWSDVGDQVODOLVWHQHVRQW SDVDXWRULVpV/ D. WLYDWLRQGHODIRQ. WLRQ)'1RXODVDLVLHGHQXPpURVGDQV ODOLVWHGHVQXPpURVG DSSHOIL[HVHVWSURWpJpHSDUOH. RGH3, 1 3RXUD. WLYHURXGpVD. WLYHUODIRQ. WLRQ)'1 $SSX\H]VXU0HQX 6pOH. WLRQQH]5pSHUWRLUHV 6pOH. WLRQQH]1XPpURVIL[HV6pOH. WLRQQH]eWDW 6pOH. WLRQQH]$. WLYpRX'pVD. WLYp6DLVLVVH]OH. RGH3, 1 $SSX\H]VXU2N SRXUYDOLGHUHW. RQILUPHUOHSDUDPpWUDJH 3RXUYLVXDOLVHUOHVQXPpURVGHODOLVWH $SSX\H]VXU0HQX 6pOH. WLRQQH]5pSHUWRLUHV 6pOH. WLRQQH]1XPpURVIL[HV 6pOH. WLRQQH]&RQVXOWHUHWXWLOLVH] RX HW SRXUYLVXDOLVHU O HQVHPEOHGHVHQWUpHV$SSX\H]VXU SRXUPRGLILHUVXSSULPHU HW. RSLHUGHVQXPpURVGHODOLVWHYHUVODPpPRLUHGXWpOpSKRQHRX GHOD. DUWH6, 0 3RXUVDLVLUpGLWHURXVXSSULPHUGHVQXPpURVGDQVODOLVWH)'1 $SSX\H]VXU0HQX 6pOH. WLRQQH]5pSHUWRLUHV 6pOH. WLRQQH]1XPpURVIL[HV 6pOH. WLRQQH]$MRXWHUQRXYHDX/H. RGH3, 1YRXVHVWDORUVGH PDQGpVLYRXVQHO DYH]SDVVDLVL, OHVWPDLQWHQDQWSRVVLEOH G DMRXWHUGHQRXYHDX[QXPpURVjODOLVWHDLQVLTXHG pGLWHUVXS SULPHUHW. RSLHUGHVQXPpURVGDQVODPpPRLUHGXWpOpSKRQHRX GHOD. DUWH6, 0 'HV. DUD. WqUHVGHUHPSOD. HPHQWSHXYHQWrWUHXWLOLVpVGDQVOHVQXPpURVHQUHJLVWUpVGDQVODOLVWH)'1 3DUH[HPSOHOHQXPpURBBYRXVSHUPHWG DSSHOHUWRXVOHVQXPpURV. RPSULVHQWUH HW/HQXPpURSHXWrWUHpGLWpHW. RPSRVpGDQVO p. UDQGHYHLOOH $WWULEXWLRQGHGLIIpUHQWHVWRQDOLWpVjYRWUHUpSHUWRLUH 9RXVSRXYH]DWWULEXHUGLIIpUHQWHVWRQDOLWpVjYRVUpSHUWRLUHVSRXUYRXV DLGHUjLGHQWLILHUGHVDSSHOVHQWUDQWV $SSX\H]VXU0HQX 6pOH. WLRQQH]5pSHUWRLUHV 6pOH. WLRQQH]5pSHUWRLUHVWRQDOLWpV 6pOH. WLRQQH]5pSHUWRLUHWpOpSKRQHRX5pSHUWRLUH. DUWH6, 0 8QHOLVWHGHGLYHUVHVWRQDOLWpVDSSDUDvW 8WLOLVH] RX HW SRXU. KRLVLUODWRQDOLWpGpVLUpHHWDSSX\H] VXU9DOLGHU XQHSDXVHj. KDTXHWRQDOLWpYRXVSHUPHWWUD G HQWHQGUHODWRQDOLWpDYDQWGHIDLUHYRWUH. KRL[ /HVPHQXV 1XPpURWDWLRQUDSLGH $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH /HVQXPpURVGXUpSHUWRLUHSHXYHQWrWUHDIIH. WpVDX[WRX. KHV j /RUV TXHYRXVDSSX\H]VXU. HVWRX. KHVHWTXHYRXVOHVPDLQWHQH]HQIRQ. pHVOD QXPpURWDWLRQUDSLGH . RPSRVH. HVQXPpURVGLUH. WHPHQWGHSXLVOHUpSHUWRL UH HVWUpVHUYpHDXQXPpURGHODPHVVDJHULHYR. DOHHWHVWDWWULEXpHDXWR PDWLTXHPHQWTXDQGOHQXPpURGX. HQWUHGHPHVVDJHULHYR. DOHHVW HQUHJLVWUpYRLU´0HVVDJHULHYR. DOHµSDJH9RXVSRXYH]VpOH. WLRQQHU GHVQXPpURVHQUHJLVWUpVVXUOD. DUWH6, 0RXGDQVOHWpOpSKRQHjO H[. HSWLRQ GHVQXPpURVG DSSHOIL[HVGHODOLVWH)'1 3RXUDIIH. WHUGHVQXPpURVGHUpSHUWRLUHjGHVWRX. KHVGHQXPpURWDWLRQUDSLGH $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH])RQ. WLRQVWRX. KHV 6pOH. WLRQQH]1XPpURWDWLRQUDSLGH 8WLOLVH] RX HW SRXUDWWHLQGUHODWRX. KHVRXKDLWpHj 6pOH. WLRQQH]1RPV SRXU. KRLVLUXQHHQWUpHSDUPL. HOOHVGH YRWUHUpSHUWRLUHHWDSSX\H]VXU9DOLGHU SRXU. RQILUPHUYRWUH VpOH. WLRQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 6LXQQXPpURTXLDpWpDIIH. WpjXQHWRX. KHGHQXPpURWDWLRQUDSLGHHVWHIID. pGXUpSHUWRLUHOH QXPpUR. RUUHVSRQGDQWHVWVXSSULPpGHODOLVWHGHVWRX. KHVGHQXPpURWDWLRQUDSLGH 0HVVDJHVGHWH[WH606 /HVHUYL. HGHPHVVDJHULH606YRXVSHUPHWG HQYR\HURXGHUH. HYRLUGHVPHVVDJHVGH WH[WH. RXUWV. DUD. WqUHVDXPD[LPXPYHUVRXGHSXLVG DXWUHVWpOpSKRQHVPREL OHVGLVSRVDQWGXPrPHVHUYL. H/HVPHVVDJHVQHVRQWSDVHQYR\pVGLUH. WHPHQWDX[ DXWUHVWpOpSKRQHVPRELOHVPDLVWUDQVLWHQWSDUXQ. HQWUHGHPHVVDJHULHJpUpSDUYR WUHRSpUDWHXU9RXVSRXYH]pJDOHPHQWHQUHJLVWUHUpGLWHUHWWUDQVIpUHUGHVPHVVDJHV RXHQUHJLVWUHUOHVQXPpURVpYHQWXHOOHPHQW. RQWHQXVGDQV. HVPHVVDJHV &HUWDLQVUpVHDX[SURSRVHQWpJDOHPHQWXQVHUYL. HGHPHVVDJHULHHPDLO606SDUO LQ WHUPpGLDLUHG XQHDGUHVVHSDVVHUHOOHTXLSHUPHWDX[XWLOLVDWHXUVGHWpOpSKRQHVSRU WDEOHVG HQYR\HUHWGHUH. HYRLUGHVPHVVDJHVYHUVHWGHSXLVGHVDGUHVVHV, QWHUQHW &RQWD. WH]YRWUHRSpUDWHXUSRXUYRXVUHQVHLJQHUVXUODGLVSRQLELOLWpG XQWHOVHUYL. H /H. WXUHG XQPHVVDJH606VWDQGDUGRXHPDLOUHoX /RUVTX XQQRXYHDXPHVVDJH606RXGHW\SHHPDLOHVWUHoXOHWpOpSKRQH pPHWODWRQDOLWpGHUp. HSWLRQ606GRXEOHELSHWDIIL. KH /HPHVVDJH HVWDXWRPDWLTXHPHQWDU. KLYpVXUOD. DUWH6, 06L . OLJQRWH. HODVLJQLILH TXHODPpPRLUHGLVSRQLEOHQHSHUPHWSOXVGHVWR. NHUG DXWUHVPHVVDJHV GDQVOD6, 06XSSULPH]GHVPHVVDJHVGpMjOXVHWDU. KLYpVDILQGHOLEpUHU GHO HVSD. HPpPRLUHSRXUGHQRXYHDX[PHVVDJHV $SSX\H]VXU/LUH SRXUOLUHWRXVOHVPHVVDJHVUHoXVGDQVOD ERvWHGHUp. HSWLRQ 8WLOLVH] RX HW SRXUSDU. RXULUOHVPHVVDJHV $SSX\H]VXU7H[WH SRXUOLUHO LQWpJUDOLWpGXWH[WH6pOH. WLRQQH] 6XSSU SRXUVXSSULPHUOHPHVVDJH $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH $SSX\H]VXU0HQX 6pOH. WLRQQH]0HVVDJHV 6pOH. WLRQQH]%RLWHGHUp. HSWLRQSRXUDIIL. KHUO HQWrWHGXSUH PLHUPHVVDJH $SSX\H]VXU7H[WH SRXUOLUHOHWH[WHGXPHVVDJH /H. WXUHGHVPHVVDJHV606RXHPDLODU. KLYpV 9RXVSRXYH]PDLQWHQDQWOLUHWRXVOHVPHVVDJHVDU. KLYpV8WLOLVH]OHVWRX. KHV RX SRXUSDU. RXULUOHVSDJHVRXOHVPHVVDJHV/HVPHVVDJHVQRQOXV VRQWVLJQDOpVSDUOHV\PEROH OHVPHVVDJHVOXVVRQWVLJQDOpVSDUOHV\P EROH *HVWLRQGHVPHVVDJHV606RXHPDLOUHoXVHWDU. KLYpV $SUqVDYRLUOXXQPHVVDJH606DSSX\H]VXU YDQW 2SWLRQ /LUHOHWH[WH 6XSSULPHURX (QUHJLVWUHU 5pSRQGUH 7UDQVIpUHU 1XPpURV $IIL. KHWRXWOHWH[WH 6XSSULPHRXHQUHJLVWUHOHPHVVDJH )RQ. WLRQ SRXURXYULUOHPHQXVXL $. WLYDWLRQRXGpVD. WLYDWLRQGHODWRQDOLWpG DODUPHGHPHVVDJH 8QHDODUPHVRQRUHGRXEOHELSUHWHQWLW. KDTXHIRLVTX XQPHVVDJHHVWUHoX 3RXUD. WLYHURXGpVD. WLYHU. HWWHDODUPH $SSX\H]VXU0HQX 6pOH. WLRQQH]0HVVDJHV 6pOH. WLRQQH]$OHUWHDXGLR6pOH. WLRQQH]$. WLYpRX'pVD. WLYp $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 9RXVSRXYH]p. ULUHHWHQYR\HUGHVPHVVDJHVPDQXV. ULWVjG DXWUHVWpOp SKRQHVPRELOHVpTXLSpVSRXU. HIDLUHRXELHQjGHVDGUHVVHV, QWHUQHW $XSDUDYDQWOHQXPpURGX. HQWUHGHPHVVDJHULH606GXUpVHDXHWO DGUHV VHGHODSDVVHUHOOHHPDLOGLVSRQLEOHDXSUqVGHYRWUHRSpUDWHXUGRLYHQW rWUHDU. KLYpVGDQVYRWUHWpOpSKRQH $SSX\H]VXU0HQX 6pOH. WLRQQH]0HVVDJHV 3UpSDUDWLRQGXWpOpSKRQHSRXUO HQYRLGHPHVVDJHV606RXHPDLO /HVPHQXV /DOLVWHG RSWLRQVGH. HPHQXSHXWYDULHUHQIRQ. WLRQGXW\SHGHPHVVDJHUHoX 8QHIRLVOXV. HUWDLQVPHVVDJHVVRQWDXWRPDWLTXHPHQWVXSSULPpVO DQ QRQ. HG XQPHVVDJHYR. DOSDUH[HPSOH'DQV. H. DVO RSWLRQ6XSSULPHU GHYLHQW(QUHJLVWUHUYRXVODLVVDQWDLQVLODSRVVLELOLWpGH. RQVHUYHUOHPHV VDJH 3HUPHWGHUpSRQGUHjO pPHWWHXUGXPHVVDJH 7UDQVPHWOHPHVVDJHjXQDXWUHXWLOLVDWHXU 3HUPHWG HQUHJLVWUHURXG DSSHOHUOHVQXPpURV . RQWHQXVGDQVO HQWrWHRXOHWH[WHGXPHVVDJH606 6pOH. WLRQQH]3DUDPqWUHV 6pOH. WLRQQH]&HQWUHGHPHVVDJHV 6LDX. XQHGRQQpHQHV \WURXYHVDLVLVVH]OHQXPpURPDQXHOOHPHQWDX IRUPDWLQWHUQDWLRQDORXjSDUWLUGXUpSHUWRLUHSXLVDSSX\H]VXU2N 6LXQQXPpURDSSDUDvW. HOXL. LDpWpWURXYpGDQVOHVLQIRUPDWLRQVHQ UHJLVWUpHVVXUOD. DUWH6, 0DSSX\H]VXU2N 6pOH. WLRQQH]$GUHVVHSDVVHUHOOH $SSX\H]VXU2N VLXQHDGUHVVHDSSDUDvWJpQpUDOHPHQWXQQXPp URGHWpOpSKRQH6LQRQVDLVLVVH]OHQXPpURHWDSSX\H]VXU2N $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 6LYRWUH6, 0Q HVWSDVHQPHVXUHGHVWR. NHUGHVPRGqOHVGHPHVVDJHV SUpSURJUDPPpVYRLUODVH. WLRQ´0RGqOHVGHPHVVDJHUpXWLOLVDEOHVµ. L DSUqVOHPHQX3DUDPqWUHV. RQWLHQGUDDORUVpJDOHPHQWOHVRSWLRQV SHUPHWWDQWGHVDLVLUODSpULRGHGHYDOLGLWpOHIRUPDWVLYRXVGHPDQGH] XQHUpSRQVHHWVLYRXVYRXOH]XQD. . XVpGHUp. HSWLRQ6LYRXVQHVRXKDLWH] VDLVLUDX. XQHYDOHXUOHVSDUDPqWUHVSDUGpIDXWVRQWGDQV. H. DVSULVHQ . RPSWHVHORQOHWDEOHDX. LGHVVRXV /HWpOpSKRQHHVWPDLQWHQDQWSUrWjHQYR\HUGHVPHVVDJHV606HPDLO 6LQp. HVVDLUHYRXVSRXYH]pJDOHPHQWVSp. LILHUODSpULRGHGHYDOLGLWpOH IRUPDWVLYRXVGHPDQGH]XQHUpSRQVHHWVLYRXVYRXOH]XQD. . XVpGH Up. HSWLRQSRXU. KDTXHPHVVDJHpPLV(QO DEVHQ. HGHSDUDPpWUDJH VSp. LILTXHOHSDUDPpWUDJHSDUGpIDXWHVWDSSOLTXp 2SWLRQ 9DOLGLWp 7\SHGH PHVVDJH 5pSRQVH GHPDQGpH $. . XVpGH Up. HSWLRQ 'HV. ULSWLRQ 'XUpHG DU. KLYDJHDX. HQWUHGH PHVVDJHULHKHXUHVMRXU MRXUVRXGXUpHPD[LPXPGpILQLH SDUO RSpUDWHXU 6pOH. WLRQQHOHIRUPDWGXPHVVDJH WH[WHHPDLOYR. DOID[RXSDJHU 9RXVSRXYH]rWUHDPHQpjSD\HUOD UpSRQVHDXPHVVDJHVLXQHUpSRQ VHHVWpPLVHSDUOHGHVWLQDWDLUH /HUpVHDXHQYRLHXQD. . XVpGHUp . HSWLRQGXPHVVDJH 3DUGpIDXW 'XUpHPD[LPXP 7H[WH 'pVD. WLYp 'pVD. WLYp (QYRLG XQQRXYHDXPHVVDJH606 $SSX\H]VXU0HQX 6pOH. WLRQQH]0HVVDJHV 6pOH. WLRQQH]&UpHUPHVVDJH6pOH. WLRQQH]0HVVDJH 6DLVLVVH]OHWH[WHGXPHVVDJHHWDSSX\H]VXU2N 6pOH. WLRQQH](QYR\HURX6DXYHU 6LYRXVDYH]VpOH. WLRQQp(QYR\HUVDLVLVVH]OHQXPpURGHGHVWLQD WLRQRXVpOH. WLRQQH]1RPV SRXU. KRLVLUXQHHQWUpHGHUpSHU WRLUHHWDSSX\H]VXU9DOLGHU SRXUYDOLGHUYRWUHVpOH. WLRQ $SSX\H]VXU2N /HWpOpSKRQHDIIL. KHXQH. RQILUPDWLRQGH O HQYRL 6Sp. LILH]VLYRXVVRXKDLWH]VDXYHUOHPHVVDJH $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH %RvWHG HQYRL /DERLWHG HQYRL. RQWLHQWOHVPHVVDJHVp. ULWVVDXYpVHWQRQHQ. RUHHQYR\pV DLQVLTXHOHVPHVVDJHVGpMjHQYR\pVHWVDXYpVLGHQWLILpVSDUOHXUHQWrWH &HVPHVVDJHVSHXYHQWrWUHVpOH. WLRQQpVGHSXLVOHPHQX%RLWHG HQYRLHW SHXYHQWrWUHPRGLILpVHWUHQYR\pVHQWDQWTXHPHVVDJHV606QRUPDX[ $SSX\H]VXU0HQX 6pOH. WLRQQH]0HVVDJHV 6pOH. WLRQQH]%RLWHG HQYRLHWXWLOLVH] RX HW SRXU DWWHLQGUHMXVTX DXPHVVDJHVRXKDLWp/HVPHVVDJHVVHURQWLGHQWL ILpV. RPPHpWDQW©pPLVª RX©jpPHWWUHª $SSX\H]VXU SRXUOLUHVXSSULPHUGHPDQGHUXQD. . XVpGH Up. HSWLRQHQYR\HURXUHQYR\HUHWPRGLILHUXQPHVVDJHHQYR\p 6XLYH]OHVLQVWUX. WLRQVjO p. UDQ 6LYRXVGHPDQGH]O pWDWG XQPHVVDJHUHPLVOHWpOpSKRQHDIIL. KHODGDWH HWO KHXUHGHUp. HSWLRQ6LYRXVGHPDQGH]O pWDWG XQPHVVDJHHQYR\pOH WpOpSKRQHHQYRLHDXUpVHDXXQHGHPDQGHG pWDW. HWWHIRQ. WLRQGRLWrWUH VXSSRUWpHSDUOHUpVHDX/HUpVHDXUpSRQGHQHQYR\DQWXQD. . XVpGHUp . HSWLRQDXWpOpSKRQHODOH. WXUHGXPHVVDJHSHXWrWUH. RQILUPpHHQDS SX\DQWVXU2N 3RXUPRGLILHUODGHPDQGHG pWDWVXUOHVPHVVDJHVGHODERvWHG HQYRL $SSX\H]VXU /HPHQXVXLYDQWDSSDUDvW 2SWLRQ 6XSSULPHUOH PHVVDJH (IID. HU 0HVVDJHDVVR. Lp )RQ. WLRQ 6XSSULPHOHPHVVDJH606HQYR\pHWO D. . XVpGHUp . HSWLRQ. RUUHVSRQGDQWV $IIL. KHOHPHVVDJHHQYR\p. RUUHVSRQGDQW eWDWGHVPHVVDJHVGHODERvWHG HQYRL 6pOH. WLRQQH]O D. WLRQVRXKDLWpHHWDSSX\H]VXU2N 0RGqOHVGHPHVVDJHUpXWLOLVDEOHV 6LOD. DUWH6, 0IRXUQLHSDUYRWUHRSpUDWHXUYRXVSHUPHWG HQUHJLVWUHUGHV PRGqOHVGHPHVVDJHSUpGpILQLVOHPHQX0HVVDJHV3DUDPqWUHV . RQWLHQWO RSWLRQ0RGqOHVGHPHVVDJHV/HVPRGqOHVVRQWGHVMHX[GH SDUDPqWUHVSUpSURJUDPPpVjXWLOLVHUORUVGHVHQYRLVGHPHVVDJHV 9RXVSRXYH]DWWULEXHUXQQRPj. KDTXHPRGqOHDILQGHOHVLGHQWLILHUHWGH OHVVpOH. WLRQQHUSOXVID. LOHPHQW 3RXU. UpHUXQPRGqOHGHPHVVDJH $SSX\H]VXU0HQX 6pOH. WLRQQH]0HVVDJHV 6pOH. WLRQQH]3DUDPqWUHV 6pOH. WLRQQH]0RGqOHVGHPHVVDJHV&KRLVLVVH]XQPRGqOHYLGH /HVPHQXV &RQILUPHO D. . XVpGHUp. HSWLRQHWHIID. HO DIIL. KDJH >@HWDSSX\H]VXU(GLWHU /HVLQVWUX. WLRQVjO p. UDQYRXVGHPDQGHQWGHVDLVLUOHQRPGX PRGqOHOHQXPpURGX. HQWUHGHPHVVDJHULHODGXUpHGHYDOLGLWp HWOHIRUPDWGXPHVVDJH 3DUGpIDXWOHVIRQ. WLRQV5pSRQVHGHPDQGpHHW$. . XVpGHUp. HSWLRQ VRQWGpVD. WLYpHV6LXQVHXOPRGqOHHVW. Upp. HOXL. LHVWDXWRPDWLTXHPHQW XWLOLVpSDUGpIDXW6LSOXVLHXUVPRGqOHVVRQW. UppVYRXVSRXYH]VpOH. WLRQ QHUOHPRGqOHGHYRWUH. KRL[SRXUUpGLJHUGHQRXYHDX[PHVVDJHV $SSHOVHWGXUpHV /HVLQIRUPDWLRQV. RQ. HUQDQWOHVDSSHOVUHoXVHWpPLVDLQVLTXHODGXUpHGXGHUQLHU DSSHOHWODGXUpH. XPXOpHGHWRXVOHVDSSHOVVRQWHQUHJLVWUpVSDUOHWpOpSKRQHGDQV OHPHQX$SSHOV'XUpHV -RXUQDOGHVDSSHOV &HWWHIRQ. WLRQHQUHJLVWUHGHVLQIRUPDWLRQVLGHQWLWpKHXUHGDWHHWGXUpH GHOD. RPPXQL. DWLRQ. RQ. HUQDQWOHVGHUQLHUVQXPpURVDSSHOpVOHV GHUQLHUVDSSHOVVDQVUpSRQVHHWOHVGHUQLHUVDSSHOVUHoXVHWD\DQWHX XQHUpSRQVH/HMRXUQDOGHVDSSHOVHVW. RPPXQDX[OLJQHVHW $SSX\H]VXU0HQX 6pOH. WLRQQH]$SSHOV'XUpHV 6pOH. WLRQQH]-RXUQDOGHVDSSHOV 6pOH. WLRQQH]'HUQLHUV. RPSRVpV5HoXVQRQUpSRQGXVRX $SSHOVUHoXV 8WLOLVH] RX HW SRXUIDLUHGpILOHUODOLVWHGHVDSSHOV /HGHUQLHUQXPpURG DSSHOUHoXRXpPLVHVWDIIL. KpHQWrWHGHOLVWH3RXU OHVDSSHOVVDQVUpSRQVHHWUHoXVOHQXPpURGHO DSSHODQWHVWDIIL. KpV LOHVW . RQQXVLQRQO p. UDQLQGLTXH1XPpURLQ. RQQX $SSX\H]VXU SRXU. RPSRVHUOHQXPpURDIIL. KpHQVXUEULOODQ. H $SSX\H]VXU SRXUD. . pGHUDXPHQXVXLYDQW 2SWLRQ 6DXYHU 6XSSULPHU 6XSSULPHU WRXV 0RGLILHU 'pWDLOV $SSHOHU $. WLRQ (QUHJLVWUHOHQXPpURGDQVOHUpSHUWRLUH 6XSSULPHO HQWUpH 6XSSULPHWRXWHVOHVHQWUpHV 0RGLILHOHQXPpURDIIL. Kp 3HUPHWGHYLVXDOLVHUOHVGpWDLOVOHQRPOHQXPpURODGDWHHW ODGXUpHG DSSHOpYHQWXHOOHSRXUOHQXPpURDIIL. KpHQVXU EULOODQ. H 3HUPHWGHUDSSHOHUOH. RUUHVSRQGDQWHQ. RXUVG DIIL. KDJH 8WLOLVH] RX HW SRXUVpOH. WLRQQHUO RSWLRQVRXKDLWpHHWVXLYH]OHV LQVWUX. WLRQVjO p. UDQ$SSX\H]VXU6RUWLU SRXUUHYHQLUjO p. UDQSUp. p GHQWRXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 'HSXLVO p. UDQGHYHLOOHYRXVSRXYH]D. . pGHU©HQXQHWRX. KHªjODOLVWHGHVGL[GHUQLHUVDSSHOVpPLVHQ DSSX\DQWVXU 'XUpHVGHVDSSHOV /HWpOpSKRQHHQUHJLVWUHODGXUpHGXGHUQLHUDSSHOODGXUpHWRWDOH. XPXOpH GHWRXVOHVDSSHOVHWODGXUpHWRWDOHGHVDSSHOVSRXUODOLJQHHWODOLJQH /HVGXUpHVGHVDSSHOVpPLVHWUHoXVYLDOHUpVHDXG DERQQHPHQWOR. DOHW YLDG DXWUHVUpVHDX[QDWLRQDX[HWLQWHUQDWLRQDX[VRQWDIIL. KpHVGDQVOH VRXVPHQX'pWDLOV $SSX\H]VXU0HQX 6pOH. WLRQQH]$SSHOV'XUpHV 6pOH. WLRQQH]&RPSWHXUVG DSSHOV 6pOH. WLRQQH]&RQVXOWHU 8WLOLVH] RX HW SRXUDIIL. KHUWRXWHVOHVLQIRUPDWLRQVGH . RPSWHXU /HWpOpSKRQHDIIL. KHOD. DWpJRULHG DSSHOHWOHVGXUpHV. XPXOpHVGHV DSSHOVUHoXVHWpPLV 9RXVSRXYH]DSSX\HUVXU'pWDLOV SRXUDIIL. KHUOHGpWDLOGHVDSSHOV HQPRGHLWLQpUDQWGHVDSSHOVLQWHUQDWLRQDX[HW. $SSX\H]VXU 6RUWLU SRXUUHYHQLUjO p. UDQSUp. pGHQW$SSX\H]ORQJXHPHQWVXU 6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 6LYRXVrWHVpJDOHPHQWDERQQpjODGHX[LqPHOLJQH©7RXVDSSHOVªHVWDIIL. KpVpSDUpPHQWSRXUOD OLJQHHWODOLJQH , QIRUPDWLRQVGH. RQVRPPDWLRQVHUYL. HVXUDERQQHPHQW &HVHUYL. HHVWIRXUQLVXUDERQQHPHQWXQLTXHPHQWSDU. HUWDLQVRSpUD WHXUVHWYRXVSHUPHWGH. RQVXOWHUYRWUH. RQVRPPDWLRQD. WXHOOH&HVLQIRU PDWLRQVVRQWHQYR\pHVSDUOHUpVHDX &RQWD. WH]YRWUHRSpUDWHXUSRXUSOXVG LQIRUPDWLRQV $SSX\H]VXU0HQX 6pOH. WLRQQH]$SSHOV'XUpHV 6pOH. WLRQQH]&RPSWHXUVG DSSHOV 6pOH. WLRQQH], QIR. RQVRPPDWLRQV 6pOH. WLRQQH]$SSHOHURX1XPpURG DSSHO 6LYRXVVpOH. WLRQQH]$SSHOHUHWVLOHQXPpURGH. RQVXOWDWLRQGHVLQ IRUPDWLRQVGH. RQVRPPDWLRQHVWGpMjHQUHJLVWUpOHWpOpSKRQH. RP SRVH. HQXPpUR6LQRQVpOH. WLRQQH]1XPpURG DSSHOHWVDLVLVVH]OH QXPpUR$SSX\H]VXU2N SRXUHQUHJLVWUHUYRWUHQXPpURRXVXU SRXUHQUHJLVWUHUHW. RPSRVHUOHQXPpURGX. HQWUHG LQIRUPDWLRQVDILQ G p. RXWHUOHVLQIRUPDWLRQVUHODWLYHVjYRWUH. RPSWHXU $SSX\H]VXU XQHIRLVTXHO DSSHOHVWWHUPLQp 8QHIRQ. WLRQGHUDSSHOGHGXUpHG DSSHOVRQQHSRXUYRXVUDSSHOHUODGX 5DSSHO'XUpHG DSSHO /HVPHQXV UpHG XQDSSHO(OOHSHXWrWUHSDUDPpWUpHSDULQWHUYDOOHVPXOWLSOHVG XQH PLQXWHPLQXWHV $SSX\H]VXU0HQX 6pOH. WLRQQH]$SSHOV'XUpHV 6pOH. WLRQQH]&RPSWHXUVG DSSHOV 6pOH. WLRQQH]5DSSHOGXUpH 6pOH. WLRQQH]$. WLYpRX'pVD. WLYp 6pOH. WLRQQH]ODGXUpHHQWUHHWPLQXWHV $SSX\H]VXU2N SRXUYDOLGHUYRWUHVDLVLH$SSX\H]VXU 6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 5HPLVHj]pURGHV. RPSWHXUV &HWWHIRQ. WLRQSHUPHWGHUpLQLWLDOLVHUWRXVOHV. RPSWHXUVG DSSHOV/H. RGH GHYHUURXLOODJHj. KLIIUHVHVWUHTXLVSRXU. HWWHRSpUDWLRQ $SSX\H]VXU0HQX 6pOH. WLRQQH]$SSHOV'XUpHV 6pOH. WLRQQH]&RPSWHXUVG DSSHOV 6pOH. WLRQQH]0HWWUHj]pUR 6pOH. WLRQQH]2XLRX1RQ 6LYRXVDYH]VpOH. WLRQQp2XLVDLVLVVH]OH. RGHGHYHUURXLOODJHGX WpOpSKRQHHWDSSX\H]VXU2N / RSpUDWLRQHVW. RQILUPpHj O p. UDQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH &HUWDLQVRSpUDWHXUVSURSRVHQWXQVHUYL. HVXUDERQQHPHQWGH. RQVXOWDWLRQ GH. RPSWHTXLSHUPHWGH. RQQDvWUHOH. RWGXGHUQLHUDSSHOpPLVOH. RW WRWDO. XPXOpGHWRXVOHVDSSHOVHWOHVROGHUpVLGXHOHQGHYLVHVGHWRXWH©OL PLWHGH. UpGLWªIL[pHSDUO XWLOLVDWHXU3RXUDIIL. KHU. HVLQIRUPDWLRQVHQGH YLVHVYRXVGHYH]G DERUGVSp. LILHUODGHYLVHXWLOLVpHHWOH. RWSDUXQLWp VLQRQOHVGRQQpHVVRQWH[SULPpHVHQXQLWpV 3RXUVSp. LILHUODGHYLVHHWOH. RWSDUXQLWp $SSX\H]VXU0HQX 6pOH. WLRQQH]$SSHOV'XUpHV 6pOH. WLRQQH]&RXWVGHVDSSHOV 6pOH. WLRQQH]&RXWVHQ 6pOH. WLRQQH]'HYLVH/DGHYLVHD. WXHOOHPHQWSDUDPpWUpHV DIIL. KH $SSX\H]VXU(GLWHU 6DLVLVVH]OH. RGH3, 1HWDSSX\H]VXU 2N 6DLVLVVH]O DEUpYLDWLRQGHODGHYLVH$SSX\H]VXU2N SRXUYDOL GHU 6DLVLVVH]OH. RWSDUXQLWpGDQVODGHYLVHVpOH. WLRQQpH$SSX\H] VXU2N SRXUYDOLGHU9RWUHVpOH. WLRQHVW. RQILUPpHjO p. UDQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 3RXUVSp. LILHUOH. RWSDUXQLWp $SSX\H]VXU0HQX 6pOH. WLRQQH]$SSHOV'XUpHV &RWV²JHVWLRQGHV. RWVGHVDSSHOVVHUYL. HVXUDERQQHPHQW 6LOHV. RWVVRQWH[SULPpVHQXQLWpVODOLPLWHGH. UpGLWHWOHVROGHVRQWDIIL. KpVHQXQLWpV 3DUDPpWUDJHGHODOLPLWHGH. UpGLW²HQXQLWpVRXHQGHYLVHV 6pOH. WLRQQH]&RXWVGHVDSSHOV 6pOH. WLRQQH]&RXWVHQ 6pOH. WLRQQH]8QLWpV $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 8QHIRLVTXHYRXVDYH]. RQILJXUpODGHYLVHHWOH. RWSDUXQLWpYRXVSRX YH]VLYRXVrWHVDERQQpj. HVHUYL. HGpILQLUXQHOLPLWHGH. UpGLWHQXQLWpV RXGDQVODGHYLVHGHYRWUH. KRL[8QHIRLVTXHODOLPLWHGH. UpGLWHVWDWWHLQ WHOHWpOpSKRQHQHSHXWSOXVpPHWWUHRXUH. HYRLUG DSSHOVSD\DQWV9RXV SRXYH]. HSHQGDQWWRXMRXUVDSSHOHUOHVQXPpURVG XUJHQ. H $SSX\H]VXU0HQX 6pOH. WLRQQH]$SSHOV'XUpHV 6pOH. WLRQQH]&RXWVGHVDSSHOV 6pOH. WLRQQH]/LPLWHGH. UpGLW/HWpOpSKRQHDIIL. KHODOLPLWHGH . UpGLWGpILQLHSUp. pGHPPHQW $SSX\H]VXU(GLWHU 6DLVLVVH]OH. RGH3, 1HWDSSX\H]VXU 2N 6DLVLVVH]ODOLPLWHGH. UpGLWXWLOLVH] SRXUVDLVLUXQSRLQWGp. L PDO$SSX\H]VXU2N SRXUYDOLGHU $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 0RGLILHURX3DVGHOLPLWH 6LXQHOLPLWHGH. UpGLWDpWpSUp. pGHPPHQWHQUHJLVWUpHO p. UDQ©/LPLWHGH. UpGLWª. RQWLHQWO RSWLRQ &RQVXOWDWLRQGHV. RWV $SSX\H]VXU0HQX 6pOH. WLRQQH]$SSHOV'XUpHV 6pOH. WLRQQH]&RXWVGHVDSSHOV 6pOH. WLRQQH]&RQVXOWHU 8WLOLVH] RX HW SRXUDIIL. KHUOH. RWGX'HUQLHUDSSHO GH7RXVDSSHOVHWGX&UpGLWUHVWDQW $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH /HVROGHHVWDIIL. KpHQXQLWpVRXHQGHYLVHV. RPPHGpILQLGDQVOHPHQX©&RXWVHQªGp. ULW. LGHVVXV &RWVGHVDSSHOV²UHPLVHj]pURGHWRXVOHV. RWV 3RXUUHPHWWUHj]pURWRXVOHVLQGL. DWHXUVGH. RWVG DSSHOV $SSX\H]VXU0HQX 6pOH. WLRQQH]$SSHOV'XUpHV 6pOH. WLRQQH]&RXWVGHVDSSHOV 6pOH. WLRQQH]0HWWUHj]pUR 6pOH. WLRQQH]2XLSRXUUHPHWWUHOHV. RWVj]pURRX1RQSRXUVRU WLU6LYRXVDYH]VpOH. WLRQQp2XLVDLVLVVH]OH. RGH3, 1HWDSSX\H] VXU2N &RXWVUHPLVj]pURDSSDUDvWEULqYHPHQWjO p. UDQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH /HVPHQXV 6HUYL. HGHGHX[LqPHOLJQH²VpOH. WLRQGHODOLJQH VHUYL. HVXUDERQQHPHQW &HUWDLQVRSpUDWHXUV*60SURSRVHQWjOHXUVXWLOLVDWHXUVO XWLOLVDWLRQ G XQHVH. RQGHOLJQH&HVHUYL. HHVWJpQpUDOHPHQWIRXUQLVXUDERQQHPHQW SRXUVpSDUHUOHVDSSHOVUHoXVHWpPLVjWLWUHSULYpRXSURIHVVLRQQHOSDU H[HPSOH/DGHX[LqPHOLJQHDVRQSURSUHQXPpURGHWpOpSKRQHPRELOH $SSX\H]VXU0HQX 6pOH. WLRQQH]$SSHOV'XUpHV 6pOH. WLRQQH]6pOH. WLRQGHOLJQH 8WLOLVH] RX HW SRXUGpILOHUMXVTX jODOLJQHVRXKDLWpHHW DSSX\H]VXU9DOLGHU SRXUYDOLGHUYRWUHVpOH. WLRQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 9RXVSRXYH]DWWULEXHUGHVQRPVjODOLJQHHWjODOLJQH%XUHDXHW3ULYpSDUH[HPSOH3RXU SOXVG LQIRUPDWLRQVUHSRUWH]YRXVjODVH. WLRQGp. ULYDQWOHPHQX0HVQXPpURVSDJH 6HUYL. HV*60 5HQYRLGHVDSSHOVUHoXVVHUYL. HUpVHDX /HUHQYRLG DSSHOHVWXQVHUYL. HTXLSHUPHWGHUHQYR\HUOHVDSSHOVUHoXV YHUVXQDXWUHQXPpURTX LOV DJLVVHGH. RPPXQL. DWLRQVYR. DOHVGHID[RX GHWUDQVIHUWGHGRQQpHV 3RXUD. WLYHUOHUHQYRLG DSSHO $SSX\H]VXU0HQX 6pOH. WLRQQH]6HUYL. HV*60 6pOH. WLRQQH]5HQYRLVG DSSHOV 6pOH. WLRQQH]9RL[)D[RX'DWD /HPHQXVXLYDQWDSSDUDvW 2SWLRQGHUHQYRL G DSSHO 3HUPDQHQW 6LKRUVUpVHDX $. WLRQ 5HQYRLHWRXVOHVDSSHOVUHoXVVDQVH[. HSWLRQ 5HQYRLHWRXVOHVDSSHOVYR. DX[ORUVTXHOHWpOpSKRQHQH SHXWrWUH. RQWD. WpV LOHVWKRUVWHQVLRQSDUH[HPSOH 5HQYRLHWRXVOHVDSSHOVYR. DX[ORUVTXHOHWpOpSKRQHHVW R. . XSp 5HQYRLHWRXVOHVDSSHOVYR. DX[VLOHWpOpSKRQHHVWKRUV WHQVLRQQHUpSRQGSDVRXHVWR. . XSp 6XUQRQUpSRQVH 5HQYRLHWRXVOHVDSSHOVYR. DX[UHVWDQWVDQVUpSRQVH 6LR. . XSp 7RXWHV . RQGLWLRQV 8WLOLVH] RX HW SRXUVpOH. WLRQQHUOD. RQGLWLRQGHUHQYRL G DSSHOHWYDOLGH]HQDSSX\DQWVXU9DOLGHU 6pOH. WLRQQH]$. WLYHU 6pOH. WLRQQH]5pSRQGHXU5pSHUWRLUHRX1XPpUR 6DLVLVVH]OHQXPpURYHUVOHTXHOYRVDSSHOVHQWUDQWVGRLYHQWrWUH UHQYR\pVGHSXLVOHUpSHUWRLUHRXGLUH. WHPHQWjO p. UDQDSSX\H] VXU9DOLGHU 9RWUHGHPDQGHHVW. RQILUPpHjO p. UDQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH VH. RQGHV /HUHQYRLG DSSHOGRLWrWUH. RQILJXUpVpSDUpPHQWSRXUODOLJQHHWODOLJQH/RUVGHODSUR JUDPPDWLRQGXUHQYRLOHUHQYRLSRUWHXQLTXHPHQWVXUODOLJQH. RXUDPPHQWVpOH. WLRQQpH3RXU IDLUHXQUHQYRLVXUO DXWUHOLJQHYRXVGHYH]VpOH. WLRQQHU. HWWHDXWUHOLJQHDXSUpDODEOH0HQX $SSHOV'XUpHV6pOH. WLRQGHOLJQH 3RXUGpVD. WLYHURXYpULILHUO pWDWGHUHQYRLVG DSSHOVLQGLYLGXHOV $SSX\H]VXU0HQX 6pOH. WLRQQH]6HUYL. HV*60 6pOH. WLRQQH]5HQYRLVG DSSHOV 6pOH. WLRQQH]9RL[)D[RX'DWD 8WLOLVH] RX HW SRXUVpOH. WLRQQHUOHW\SHGHWUDQVIHUWHW DSSX\H]VXU9DOLGHU 6pOH. WLRQQH]$QQXOHURX(WDW 9RWUHVpOH. WLRQHVW. RQILUPpHjO p. UDQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 3RXUDQQXOHUWRXVOHVUHQYRLVG DSSHO $SSX\H]VXU0HQX 6pOH. WLRQQH]6HUYL. HV*606pOH. WLRQQH] 5HQYRLVG DSSHOV 6pOH. WLRQQH]$QQXOHUWRXVUHQYRLV/ RSpUDWLRQHVW. RQILUPpHj O p. UDQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 6LO RSWLRQ©6XUQRQUpSRQVHªHVWD. WLYpHYRXVGHYH]VDLVLUXQGpODLGHUHQYRLGHRX &HWWHRSpUDWLRQDQQXOHWRXVOHVUHQYRLVG DSSHOVSRXUOHVDSSHOVYR. DX[GHID[HWGHWUDQVIHUWGH GRQQpHVSRXUODOLJQHHQ. RXUVG XWLOLVDWLRQ3RXUDQQXOHUOHVUHQYRLV. RQ. HUQDQWO DXWUHOLJQHYRXV GHYH]VpOH. WLRQQHU. HWWHDXWUHOLJQHDXSUpDODEOH0HQX$SSHOV'XUpHV6pOH. WLRQGHOLJQH , GHQWLIL. DWLRQG DSSHO&/, ²0RQWUHU&D. KHUYRWUHQXPpURGH WpOpSKRQHPRELOH 5p. HSWLRQ, 'DSSHODQW &HWWHIRQ. WLRQYRXVSHUPHWGHGpWHUPLQHUVLXQUpVHDXLGHQWLILHO RULJLQH GHVDSSHOVUHoXV $SSX\H]VXU0HQX 6pOH. WLRQQH]6HUYL. HV*60 6pOH. WLRQQH]5p. HSWLRQ, 'DSSHODQW/ DIIL. KDJHjO p. UDQYRXV LQGLTXHTXHODGHPDQGHHVWHQ. RXUVSXLVOHUpVHDXDIIL. KH 1XPpURDSSHODQWSUpVHQWDWLRQGLVSRQLEOHRX1XPpUR DSSHODQWSUpVHQWDWLRQQRQGLVSRQLEOH $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 6XU. HUWDLQVUpVHDX[YRXVSRXYH]. D. KHUYRWUHQXPpURGHWpOpSKRQHPR ELOHGHPDQLqUHSRQ. WXHOOHHQDMRXWDQWDYDQWOHQXPpURGHYRWUH . RUUHVSRQGDQW9RXVSRXYH]pJDOHPHQWGHPDQGHUjYRWUHRSpUDWHXUGH PDVTXHUYRWUHQXPpURGHPDQLqUHSHUPDQHQWH'DQV. H. DVYRXVSRXYH] /HVPHQXV /HVUpVHDX[RIIUHQWJpQpUDOHPHQWOHVHUYL. HGHIRXUQLUOHQXPpURGHODSHU VRQQHTXLYRXVDSSHOOHORUVGHODUp. HSWLRQG XQDSSHO(QVpOH. WLRQQDQW 5p. HSWLRQ, 'DSSHODQWYRXVSRXYH]YpULILHUVL. HVHUYL. HHVWGLVSRQLEOH PDOJUpWRXWDIIL. KHUYRWUHQXPpURHQDMRXWDQW DYDQWOHQXPpURGH YRWUH. RUUHVSRQGDQW 3DUDPpWUDJHVWDQGDUGGXUpVHDX 3RXUUpWDEOLUOHSDUDPpWUDJHSDUGpIDXWGXUpVHDXSRXUODWUDQVPLVVLRQGH YRWUHQXPpURGHWpOpSKRQHPRELOH $SSX\H]VXU0HQX 6pOH. WLRQQH]6HUYL. HV*60 6pOH. WLRQQH](QYRLGHPRQQXPpUR 6pOH. WLRQQH]0RQSDUDPpWUDJH 6pOH. WLRQQH]9DOHXUG DERQQHPHQW/HWpOpSKRQHUpWDEOLWOH SDUDPpWUDJH. RQYHQXDYH. YRWUHRSpUDWHXU $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 3RXUPRQWUHURX. D. KHUYRWUHQXPpUR $SSX\H]VXU0HQX 6pOH. WLRQQH]6HUYL. HV*60 6pOH. WLRQQH](QYRLGHPRQQXPpUR 6pOH. WLRQQH]0RQSDUDPpWUDJH 6pOH. WLRQQHU&D. KHUPRQQXPpURRX0RQWUHUPRQQXPpUR $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 3RXU. RQVXOWHUYRWUHSDUDPpWUDJH. RXUDQW $SSX\H]VXU0HQX 6pOH. WLRQQH]6HUYL. HV*60 6pOH. WLRQQH](QYRLGHPRQQXPpUR 6pOH. WLRQQH](WDW /HWpOpSKRQHDIIL. KHYRWUHSDUDPpWUDJH. RXUDQWHQWHQDQW . RPSWHjODIRLVGHVSDUDPpWUDJHVGXUpVHDXHWGXWpOpSKRQH $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 5pVHDX /RUVTXHOHWpOpSKRQHHVWVRXVWHQVLRQ. HOXL. LUH. KHU. KHDXWRPDWLTXH PHQWOHGHUQLHUUpVHDXVXUOHTXHOLOV HVW. RQQH. WpJpQpUDOHPHQWOHUpVHDX OR. DO6L. HOXL. LQ HVWSDVD. . HVVLEOHOHWpOpSKRQHUH. KHU. KHDXWRPDWLTXH PHQWHWVpOH. WLRQQHXQDXWUHUpVHDXHQWHQDQW. RPSWHGHODOLVWHGHVUp VHDX[SUpIpUpVHQUHJLVWUpHVXUOD. DUWH6, 0 eGLWLRQGHODOLVWHGHVUpVHDX[SUpIpUpV /HWpOpSKRQH. RQWLHQWXQHOLVWHGHUpVHDX[SHXWrWUHVpOH. WLRQQpHHWWUDQV IpUpHGDQVODOLVWHGHVUpVHDX[SUpIpUpVHQUHJLVWUpHVXUOD. DUWH6, 0 &HWWHOLVWHSHXWrWUHDGDSWpHjYRVGpSOD. HPHQWV / RUGUHHWOHQRPGHVUpVHDX[GDQVODOLVWHSHXYHQWrWUHPRGLILpV $SSX\H]VXU0HQX 6pOH. WLRQQH]6HUYL. HV*60 6pOH. WLRQQH]*HVWLRQGHVUpVHDX[ 6pOH. WLRQQH]5pVHDX[SUpIpUpV /HWpOpSKRQHDIIL. KHXQHOLVWHGHUpVHDX[ 8WLOLVH] RX HW SRXU. RQVXOWHUODOLVWH $SSX\H]VXU(GLWHU SRXULQVpUHUYRWUHVpOH. WLRQGDQVODOLVWH $SSX\H]VXU VHQW 2SWLRQ &RQVXOWHU ODOLVWH 0RGLILHU 6XSSULPHU SRXUODPRGLILHU/HVRSWLRQVVXLYDQWHVDSSDUDLV 'HV. ULSWLRQ $IIL. KHSDURUGUHDOSKDEpWLTXHODOLVWHJpQpUDOHGHWRXV OHVUpVHDX[. RQQXVSUpHQUHJLVWUpHGDQVOHWpOpSKRQH 0RGLILHRXVDLVLWXQQXPpURGHUpVHDX0&&01&VL YRXV. RQQDLVVH]. HVLQIRUPDWLRQV 6XSSULPHXQHHQWUpH $SSX\H]VXU9DOLGHU SRXU. RQILUPHUODVpOH. WLRQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 9RWUH. DUWH6, 0. RQWLHQWXQHOLVWHGHUpVHDX[LQWHUGLWVTXLQHSHXYHQWSDV rWUHXWLOLVpV3RXU. RQVXOWHUODOLVWHGHVUpVHDX[LQWHUGLWVRXDIIL. KHUOHUp VHDXQRPLQDO $SSX\H]VXU0HQX 6pOH. WLRQQH]6HUYL. HV*60 6pOH. WLRQQH]*HVWLRQGHVUpVHDX[ 6pOH. WLRQQH]5pVHDX[LQWHUGLWVRX5pVHDXQRPLQDO/HWpOp SKRQHDIIL. KHODOLVWHGHVUpVHDX[LQWHUGLWVRXOHUpVHDXOR. DO $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 6pOH. WLRQGHUH. KHU. KHPDQXHOOHGHUpVHDX 'DQV. HUWDLQV. DVYRXVSRXYH]VRXKDLWHUVpOH. WLRQQHUXQUpVHDX VSp. LILTXHTXLDVVXUHXQHPHLOOHXUH. RXYHUWXUHGDQVODUpJLRQRYRXV YRXVWURXYH]SDUH[HPSOH $SSX\H]VXU0HQX 6pOH. WLRQQH]6HUYL. HV*60 6pOH. WLRQQH]*HVWLRQGHVUpVHDX[ 6pOH. WLRQQH]5H. KHU. KHGHUpVHDX 6pOH. WLRQQH]0RGHPDQXHO8Qp. UDQGH. RQILUPDWLRQHVWDIIL . KpSXLVOHWpOpSKRQHDIIL. KH5H. KHU. KHGHVUpVHDX[8QHOLVWH GHVUpVHDX[WURXYpVDSSUDUDvWHQVXLWH 8WLOLVH] RX HW SRXUVpOH. WLRQQHUXQUpVHDXGDQVODOLVWH DIIL. KpHjO p. UDQHWDSSX\H]VXU9DOLGHU /HWpOpSKRQHDIIL. KH'HPDQGHHQ. RXUVVXLYLGXQRPGX UpVHDXSXLVUHYLHQWjO p. UDQGHYHLOOH , OHVWLPSRVVLEOHGHVXSSULPHUXQUpVHDXGHODOLVWHGHVUpVHDX[LQWHUGLWV&HWWHOLVWHHVWDXWRPDWL TXHPHQWPLVHjMRXUORUVG XQHUH. KHU. KHPDQXHOOHGHUpVHDX 6pOH. WLRQGHUH. KHU. KHDXWRPDWLTXHGHUpVHDXSDUDPpWUDJHSDUGpIDXW 3RXUUHSDVVHUHQPRGHGHVpOH. WLRQDXWRPDWLTXH $SSX\H]VXU0HQX 6pOH. WLRQQH]6HUYL. HV*60 6pOH. WLRQQH]*HVWLRQGHVUpVHDX[ 6pOH. WLRQQH]5H. KHU. KHGHUpVHDX 6pOH. WLRQQH]0RGHDXWRPDWLTXH8QHUH. KHU. KHDXWRPDWLTXH HVWHIIH. WXpH $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH /HVPHQXV , QWHUGL. WLRQG DSSHOVHUYL. HUpVHDX &HVHUYL. HUpVHDXYRXVSHUPHWG LQWHUGLUHGLIIpUHQWVW\SHVG DSSHOVpPLVHW UHoXVDXWpOpSKRQH , OQp. HVVLWHO XWLOLVDWLRQG XQPRWGHSDVVHG LQWHUGL. WLRQG DSSHOIRXUQLSDU YRWUHRSpUDWHXU 3RXUD. WLYHUXQHLQWHUGL. WLRQG DSSHO $SSX\H]VXU0HQX 6pOH. WLRQQH]6HUYL. H*60 6pOH. WLRQQH], QWHUGL. WLRQVG DSSHOV 6pOH. WLRQQH]$SSHOVVRUWDQWVRX$SSHOVHQWUDQWV6pOH. WLRQ QH]XQHGHVRSWLRQVVXLYDQWHV 6pOH. WLRQ $SSHOVVRUWDQWV 7RXVDSSHOV VRUWDQWV $SSHOV LQWHUQDWLRQDX[ 7RXVVDXI QDWLRQDO $SSHOVHQWUDQWV 7RXVDSSHOV HQWUDQWV (QLWLQpUDQ. H 'HV. ULSWLRQ 7RXVOHVDSSHOVpPLVVRQWLQWHUGLWV 7RXVOHVDSSHOVLQWHUQDWLRQDX[ pPLVVRQWLQWHUGLWV 7RXVOHVDSSHOVLQWHUQDWLRQDX[ pPLVVRQWLQWHUGLWVVDXIOHVDSSHOV DX[DERQQpVGXUpVHDXOR. DO 7RXVOHVDSSHOVUHoXVVRQWLQWHUGLWV 7RXVOHVDSSHOVUHoXVVRQWLQWHUGLWV TXDQGO XWLOLVDWHXUQ HVWSDVVXUOH UpVHDXQRPLQDO $OOH]jO RSWLRQVRXKDLWpHHWDSSX\H]VXU9DOLGHU 6pOH. WLRQQH]$. WLYHU 6DLVLVVH]OHPRWGHSDVVHHWDSSX\H]VXU2N /HUpVHDX. RQILUPHODVpOH. WLRQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 3RXUGpVD. WLYHURX. RQVXOWHUOHSDUDPpWUDJHG XQHLQWHUGL. WLRQG DSSHO $SSX\H]VXU0HQX 6pOH. WLRQQH]6HUYL. HV*60 6pOH. WLRQQH], QWHUGL. WLRQVG DSSHOV 6pOH. WLRQQH]$SSHOVVRUWDQWVRX$SSHOVHQWUDQWV 6pOH. WLRQQH]7RXVDSSHOVVRUWDQWV$SSHOVLQWHUQDWLRQDX[ RX7RXVVDXIQDWLRQDO 6pOH. WLRQQH]$QQXOHURX(WDW 8QPRWGHSDVVHHVWUHTXLVVLYRXV. KRLVLVVH]G LQWHUGLUHXQ DSSHO $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH HWDSSHOVHQWUDQWV / RSWLRQ$QQXOHUWRXVVXSSULPHWRXWHVOHVLQWHUGL. WLRQVG DSSHOVGHVGHX[RSWLRQVDSSHOVVRUWDQWV 3RXUPRGLILHUOHPRWGHSDVVH $SSX\H]VXU0HQX 6pOH. WLRQQH]6HUYL. HV*60 6pOH. WLRQQH], QWHUGL. WLRQVG DSSHOV 6pOH. WLRQQH]0RGLILHUPRWGHSDVVH / DQ. LHQPRWGHSDVVHGRLWrWUHVDLVLSXLVYRXVGHYH]VDLVLUGHX[ IRLVOHQRXYHDXPRWGHSDVVH/pWpOpSKRQHDIIL. KHOD. RQILUPD WLRQGHO RSpUDWLRQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH *URXSHIHUPpG XWLOLVDWHXUV*)8VHUYL. HVXUDERQQHPHQW &HVHUYL. HUpVHDXSHUPHWGHUHVWUHLQGUHOHVDSSHOVpPLVHWUHoXVjXQJURX SHGHSHUVRQQHV/HVJURXSHVOHQLYHDXG D. . qVHWO D. . qVSUpIpUHQWLHOG XQ GHVJURXSHVVRQWGpILQLVORUVGHO DERQQHPHQWDXVHUYL. H&HWWHIRQ. WLRQ GRLWrWUH. RQILJXUpHSRXUSOXVLHXUVXVDJHUVjODIRLVHW. RQ. HUQHHVVHQWLHO OHPHQWOHVXWLOLVDWHXUVSURIHVVLRQQHOVTXLVRXKDLWHQWIDLUHXQXVDJHVWUL. WHPHQWLQWHUQHGXUpVHDX , OHVWSRVVLEOHGH. RQILJXUHUMXVTX jJURXSHV6DXIDXWRULVDWLRQLOHVW LPSRVVLEOHG pPHWWUHRXGHUH. HYRLUGHVDSSHOVjO H[WpULHXUGXJURXSH $. WLYDWLRQHWGpVD. WLYDWLRQGHODIRQ. WLRQ*)8HWVpOH. WLRQGXW\SHGHVHU YL. H*)8 $SSX\H]VXU0HQX 6pOH. WLRQQH]6HUYL. HV*60 6pOH. WLRQQH]*URXSHVSULYpV/HSDUDPpWUDJH*)8. RXUDQW DSSDUDvW $SSX\H]VXU'pILQLU SRXUDIIL. KHUOHVRSWLRQVVXLYDQWHV /DIRQ. WLRQ*)8HVWGpVD. WLYpH$X. XQJURXSH +RUVJURXSH Q HVWD. WLI, OHVWSRVVLEOHG pWDEOLUGHV. RPPXQL . DWLRQVjO H[WpULHXUGXJURXSH (QJURXSH $SSHOVOLPLWpVYHUVHWGHSXLVOHVXVDJHUVH[Wp SDUWLHO ULHXUVDXJURXSHHWDYH. OHVXVDJHUVGXJURXSH (QJURXSH /HVDSSHOVpPLVRXUHoXVVRQWUHVWUHLQWVDX[XVD VHXOHPHQW JHUVGXJURXSH 8WLOLVH] RX HW SRXUDWWHLQGUHO RSWLRQVRXKDLWpH $SSX\H]VXU9DOLGHU YRWUH. KRL[HVW. RQILUPp $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 2SWLRQ 'HV. ULSWLRQ /D. RQILJXUDWLRQSRXUXQHXWLOLVDWLRQQRUPDOHHVW©+RUVJURXSHª 0HVVDJHVG LQIRUPDWLRQ &HVPHVVDJHVVRQWGLIIXVpVSDUOHVUpVHDX[jO HQVHPEOHGHVXWLOLVDWHXUVGH*60HW SHXYHQW. RQWHQLUGHVLQIRUPDWLRQVJpQpUDOHVVXUOHVLQGL. DWLIVOR. DX[ODPpWpROD . LU. XODWLRQURXWLqUHHW. &KDTXHW\SHGHPHVVDJHHVWQXPpURWpDILQGHYRXVSHU PHWWUHGHVpOH. WLRQQHUOHW\SHG LQIRUPDWLRQVTXHYRXVVRXKDLWH]UH. HYRLU, OHVW SRVVLEOHGHSURJUDPPHUMXVTX j. LQTW\SHVGHPHVVDJHGLIIpUHQWVGDQVYRWUHOLVWH GHVpOH. WLRQPDLVYRXVQHSRXYH]HQDIIL. KHUTX XQjODIRLV /HVPHQXV , OH[LVWHVHL]HW\SHVGHPHVVDJHVVWDQGDUGSUpSURJUDPPpVGDQVOHWpOpSKRQHSDU PLOHVTXHOVYRXVSRXYH]HIIH. WXHUYRWUHVpOH. WLRQ(GLWHU SHUPHWGHSURJUDP PHUGHQRXYHDX[W\SHVGHPHVVDJHVGDQVODOLVWHGHVpOH. WLRQ &RQWD. WH]YRWUHRSpUDWHXUSRXUGHSOXVDPSOHVGpWDLOVVXUOHVW\SHVGHPHVVDJHV GLIIXVpV 9RWUHOLVWHGHVpOH. WLRQGRLW. RQWHQLUDXPRLQVXQW\SHGHPHVVDJHDYDQWG D. WLYHU OHVHUYL. HGHPHVVDJHVG LQIRUPDWLRQ 6DLVLHG XQW\SHGHPHVVDJHGDQVODOLVWHGHVpOH. WLRQ /DOLVWHGHVpOH. WLRQSHXW. RPSRUWHUMXVTX jW\SHVGHPHVVDJH $SSX\H]VXU0HQX 6pOH. WLRQQH], QIRVGLIIXVpHV 6pOH. WLRQQH]7\SHVGHPHVVDJHV $SSX\H]VXU(GLWHU HWXWLOLVH] RX HW SRXUSDUYHQLUj O XQGHVVHL]HW\SHVGHPHVVDJHVSURSRVpV$SSX\H]VXU 9DOLGHU SRXU. RQILUPHUYRWUH. KRL[ 9RXVSRXYH]DXVVLDSSX\HUVXU SRXUVDLVLUXQW\SHGHPHV VDJHSDUQXPpURGH. RGHVLYRXVOH. RQQDLVVH] $SSX\H]GHQRXYHDXVXU(GLWHU SRXUVDLVLUXQDXWUHW\SHGH PHVVDJHGDQVODOLVWHGHVpOH. WLRQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH $. WLYDWLRQRXGpVD. WLYDWLRQGXVHUYL. HGHPHVVDJHVG LQIRUPDWLRQ $SSX\H]VXU0HQX 6pOH. WLRQQH], QIRVGLIIXVpHV 6pOH. WLRQQH](WDW 6pOH. WLRQQH]$. WLYpRX'pVD. WLYp $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH /H. WXUHGHVPHVVDJHVG LQIRUPDWLRQ /HVPHVVDJHVG LQIRUPDWLRQQHSHXYHQWrWUHDIIL. KpVTXHGHSXLVO p. UDQGH YHLOOHHWQHVRQWSDVD. . HVVLEOHVSHQGDQWXQH. RPPXQL. DWLRQRXGHSXLVXQ PHQX8QPHVVDJHSHXW. RQWHQLUMXVTX j. DUD. WqUHVHW. RPSRUWHUSOX VLHXUVSDJHV/HVSDJHVGpILOHQWDXWRPDWLTXHPHQWWRXWHVOHVVH. RQGHV HQYLURQRXSHXYHQWrWUHSDU. RXUXHVPDQXHOOHPHQWHQDSSX\DQWVXU 2SWLRQVSHQGDQWO DIIL. KDJHGHPHVVDJHV 9RXVSRXYH]HIID. HUOHPHVVDJHDIIL. KpHQDSSX\DQWVXU(IID. HU $SSX\H]VXU SRXU. RPSRVHUOHQXPpURDIIL. KpjO p. UDQGDQVOH PHVVDJH $SSX\H]VXU SRXUDIIL. KHUOHPHQXVXLYDQW 2SWLRQ $. WLRQ 6XSSULPHU 6XSSULPHWRXVOHVPHVVDJHVGDQVODILOHG DWWHQWH WRXV 1XPpURV $QQXOHU GLIIXVLRQ 6XSSULPHU 3HUPHWGH. RPSRVHUOHVQXPpURVDIIL. KpVjO p. UDQHW GHOHVHQUHJLVWUHUGDQVOHEOR. QRWHVOH. DVp. KpDQW 'pVD. WLYHOHVPHVVDJHVG LQIRUPDWLRQ 6XSSULPHOHPHVVDJHHQ. RXUV $. WLYDWLRQRXGpVD. WLYDWLRQGHO DOHUWHDXGLR 9RXVSRXYH]SURJUDPPHUXQELS. KDTXHIRLVTX XQQRXYHDXPHVVDJH G LQIRUPDWLRQHVWUHoX $SSX\H]VXU0HQX 6pOH. WLRQQH], QIRVGLIIXVpHV 6pOH. WLRQQH]$OHUWHDXGLR 6pOH. WLRQQH]$. WLYpRX'pVD. WLYp $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 6XSSUHVVLRQRXPRGLIL. DWLRQG XQW\SHGHPHVVDJHGDQVOD OLVWHGHVpOH. WLRQSDUQRPRXSDU. RGH /HVW\SHVGHPHVVDJHUpSHUWRULpVGDQVODOLVWHGHVpOH. WLRQSHXYHQWrWUH VXSSULPpVRXPRGLILpVHQXWLOLVDQWOHVW\SHVGHPHVVDJHQRPPpVRXOHV . RGHV $SSX\H]VXU0HQX 6pOH. WLRQQH], QIRVGLIIXVpHV 6pOH. WLRQQH]7\SHVGHPHVVDJHV $SSX\H]VXU HWVpOH. WLRQQH]0RGLILHUSDUOLVWH0RGLILHU SDU. RGHRX6XSSULPHUVLYRXVRSWH]SRXU0RGLILHUSDU . RGH. RQVXOWH]OHWDEOHDXGHV. RGHV. LDSUqVRXUHQVHLJQH] YRXVDXSUqVGHYRWUHRSpUDWHXUSRXUREWHQLUOHVQRXYHDX[. RGHV VLGLVSRQLEOHV $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 7RXVOHVPHVVDJHVG LQIRUPDWLRQGLIIXVpVSHXYHQWrWUHDIIL. KpVGDQVGLYHU VHVVXLYDQWHV 3RXUVpOH. WLRQQHUODODQJXHGHYRWUH. KRL[ $SSX\H]VXU0HQX 6pOH. WLRQQH], QIRVGLIIXVpHV 6pOH. WLRQQH]/DQJXH 8WLOLVH] RX HW SRXUVpOH. WLRQQHUXQHODQJXHGDQVODOLVWH DIIL. KpH$SSX\H]VXU9DOLGHU SRXUYDOLGHU $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH /DQJXHGHVPHVVDJHVG LQIRUPDWLRQ 3DUDPpWUDJHGXWpOpSKRQH²SHUVRQQDOLVDWLRQ 9HUURXLOODJHGX. ODYLHU &HWWHIRQ. WLRQVLHOOHHVWD. WLYpHSHUPHWG pYLWHUWRXWHXWLOLVDWLRQLQYRORQ WDLUHGHVWRX. KHVHWWRXWD. . qVLQYRORQWDLUHDX[PHQXV/HVWRQDOLWpVGHWRX . KHVRQWpJDOHPHQWGpVD. WLYpHV /HYHUURXLOODJHGX. ODYLHUHVWVXVSHQGXHQ. DVG DSSHOUHoXHWUpWDEOLGqVTXH O DSSHOHVWWHUPLQp9RXVSRXYH]HQ. RUHSDVVHUGHVDSSHOVG XUJHQ. H(Q. DV GHSUHVVLRQG XQHWRX. KHO p. UDQYRXVUDSSHOOHTXHOH. ODYLHUHVWYHUURXLOOp , OH[LVWHGHX[PpWKRGHVG D. WLYDWLRQGpVD. WLYDWLRQGXYHUURXLOODJHGX. ODYLHU 'LUH. WHPHQWjO DLGHGX. ODYLHUGHSXLVO p. UDQGHYHLOOH $SSX\H]VXU SXLVVXU SRXUYHUURXLOOHUOH. ODYLHU/ p. UDQDIIL . KH /HVPHQXV $SSX\H]VXU . ODYLHU RX'pYHUU SXLVVXU SRXUGpYHUURXLOOHUOH O DLGHGXPHQX $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH]9HUURXLOOHUOH. ODYLHUSRXUYHUURXLOOHUOH. ODYLHU $SSX\H]VXU RX'pYHUU SXLVVXU SRXUGpYHUURXLOOHUOH . ODYLHU /HYHUURXLOODJHGX. ODYLHUHVWDQQXOpORUVTXHOHWpOpSKRQHHVW. RQQH. WpDXNLWPDLQVOLEUHV 6pOH. WLRQGHODODQJXH 7RXVOHVPHVVDJHVG p. UDQSHXYHQWrWUHDIIL. KpVGDQVSOXVLHXUVODQJXHV VXLYDQWHV 3RXUVpOH. WLRQQHUODODQJXHGHYRWUH. KRL[ $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH]/DQJXH 8WLOLVH] RX HW SRXUVpOH. WLRQQHUXQHODQJXHGDQVODOLVWH DIIL. KpH$SSX\H]VXU9DOLGHU SRXUYDOLGHU $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 3RXUUpLQLWLDOLVHUOHWpOpSKRQHGDQVODODQJXHGHOD. DUWH6, 0VDLVLVVH] 3RXUUpLQLWLDOLVHUODODQJXHHQIUDQoDLVVDLVLVVH] 7RQDOLWpV0RGHG DOHUWHDXGLR $ILQG pYLWHUGHGpUDQJHUO HQWRXUDJHYRXVSRXYH]GpVD. WLYHUODVRQQHULH G DSSHOUHoXHWWRXWHVOHVWRQDOLWpVG DODUPH . pHVSDUO D. WLRQYLEUHXU , OH[LVWHGHX[PpWKRGHV 'LUH. WHPHQWGHSXLVO p. UDQGHYHLOOH 'HSXLVO p. UDQGHYHLOOHDSSX\H]VXU SRXUDIIL. KHU6RQQHULH 9LEUHXU9LEUHXUVRQQHULHRX9LEUHXUSXLVVRQQHULH 8WLOLVH] RX HW SRXUVpOH. WLRQQHUOHVSDUDPpWUDJHVVRX KDLWpV$SSX\H]VXU9DOLGHU SRXU. RQILUPHUYRWUH. KRL[ DSSDUDvWjO p. UDQ 6LO XQHGHVRSWLRQVGXYLEUHXUHVW. KRLVLHWRXWHVOHVVRQQHULHVG DOHUWHHWG DODUPHVRQWUHPSOD 6L6RQQHULHHVWVpOH. WLRQQpPDLVTXHOHYROXPHGHVRQQHULHDpWpGpVD. WLYp DSSDUDvW8Q DYHUWLVVHPHQWLQGLTXDQWTXHOHYROXPHGHODVRQQHULHHVWGpVD. WLYpHVWpJDOHPHQWDIIL. Kp TXDQGOHPRELOHHVWDOOXPp DSSUDvWVL9LEUHXU9LEUHXUVRQQHULHRX9LEUHXUSXLVVRQQHULHHVWVpOH. WLRQQp&HWWHL. {QHD ODSULRULWpVXU O DLGHGXPHQX $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH]5pJODJHVDXGLR 6pOH. WLRQQH]7\SHG DOHUWH 6pOH. WLRQQH]6RQQHULH9LEUHXU9LEUHXUVRQQHULHRX 9LEUHXUSXLVVRQQHULH $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 6L6RQQHULHHVWVpOH. WLRQQpPDLVTXHOHYROXPHGHVRQQHULHDpWpGpVD. WLYp DSSDUDvW8QDYHU WLVVHPHQWLQGLTXDQWTXHOHYROXPHGHODVRQQHULHHVWGpVD. WLYpHVWpJDOHPHQWDIIL. KpTXDQGOH PRELOHHVWDOOXPp /RUVTXHOHWpOpSKRQHHVW. RQQH. WpjXQ. KDUJHXUGHEXUHDXjXQDGDSWDWHXUPDLQVOLEUHVjXQ DGDSWDWHXUYpKL. XOH&/$RXjXQDGDSWDWHXUVH. WHXUOHPRGHYLEUHXUHVWWHPSRUDLUHPHQWLQKLEp OHWpOpSKRQHVRQQHUDjODSOD. H 6pOH. WLRQGHODVRQQHULHG DSSHO 9RXVSRXYH]. KRLVLUODVRQQHULHG DSSHOSDUPLXQHOLVWHGHWRQDOLWpVHQ UHJLVWUpHVGDQVOHWpOpSKRQH 3RXUp. RXWHUODWRQDOLWpRXODPpORGLHDWWHQGH]TXHOTXHVVH. RQGHVDYDQW GH. RQILUPHUYRWUHVpOH. WLRQ/DWRQDOLWpRXODPpORGLHHVWDORUVpPLVH DXWRPDWLTXHPHQWSDUOHWpOpSKRQH /DVpOH. WLRQVHIDLWSDUOHPHQX5pJODJHV $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH]5pJODJHVDXGLR 6pOH. WLRQQH]6RQQHULH 8WLOLVH] RX HW SRXUp. RXWHUOHVGLIIpUHQWHVWRQDOLWpV $SSX\H]VXU9DOLGHU SRXUVpOH. WLRQQHUODWRQDOLWp. RXUDQWH $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH /DVRQQHULHG DSSHOGRLWrWUHVpOH. WLRQQpHVpSDUpPHQWSRXUODOLJQHHWODOLJQH 5pJODJHVGXYROXPH /HYROXPHGHODVRQQHULHG DSSHOGHVWRQDOLWpVGHWRX. KHGHVWRQDOLWpV G DODUPHUpYHLOHWEDWWHULHYLGHHWGXVLJQDOG p. RXWHSHXYHQWrWUHUpJOpV LQGLYLGXHOOHPHQW9RXVSRXYH]\D. . pGHUGLUH. WHPHQWGHSXLVO p. UDQGH YHLOOHHQDSSX\DQWVXU RXSDUOHPHQX5pJODJHV $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH]5pJODJHVDXGLR 6pOH. WLRQQH]9ROXPHV 6pOH. WLRQQH]6RQQHULH7RX. KHV&RQYHUVDWLRQRX$ODUPH /HWpOpSKRQHDIIL. KHjO p. UDQOHQRPGXYROXPHVpOH. WLRQQpSRXU. RQILU PHUO RSpUDWLRQ 8WLOLVH] HW SRXUUpJOHUOHSDUDPqWUH $SSX\H]VXU2N SRXUYDOLGHUOHUpJODJH $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH /HVPHQXV 3HQGDQWXQDSSHOYRXVSRXYH]UpJOHUOHYROXPHGH. RQYHUVDWLRQDYH. RX9RO HW9RO 6LOHYROXPHGHVRQQHULHHVWGpVD. WLYp DSSDUDvWjO p. UDQ 8QDYHUWLVVHPHQWTXHOHYROXPHGHODVRQQHULHHVWGpVD. WLYpHVWpJDOHPHQWDIIL. KpTXDQGOH PRELOHHVWDOOXPp 9ROXPHSURJUHVVLI 6LODIRQ. WLRQGHYROXPHSURJUHVVLIHVWD. WLYpHODVRQQHULHG DSSHODXJ PHQWHSURJUHVVLYHPHQWMXVTX DXYROXPHPD[LPDOVLO DSSHOUHVWHVDQVUp SRQVHDSUqVODSUHPLqUHVRQQHULH $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH]5pJODJHVDXGLR 6pOH. WLRQQH]9ROXPHV 6pOH. WLRQQH]9ROXPHSURJUHVVLI 6pOH. WLRQQH]$. WLYpRX'pVD. WLYp $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 6L. HWWHIRQ. WLRQHVWD. WLYpHOHYROXPHGHODVRQQHULHG DSSHO. RPPHQ. HDXQLYHDXPLQLPDOHW DXJPHQWHMXVTX DXQLYHDXPD[LPDOMXVTX j. HTXHO XWLOLVDWHXUDLWUpSRQGXjO DSSHO (GLWLRQ &HWWHIRQ. WLRQTXLGpSHQGGXUpVHDXGHOD6, 0HWGHODODQJXHPRGLILH OHMHXGHV. DUD. WqUHVD. . HQWXpVSDUDPpWUpVSRXU. RUUHVSRQGUHjODODQJXH HQXVDJHGDQVOHWpOpSKRQH &HWWHRSWLRQSHUPHWjO XWLOLVDWHXUGH. RQWU{OHUOHIRQ. WLRQQHPHQWGX UpWURp. ODLUDJHSHQGDQWOHVVDLVLHVDX. ODYLHURXHQ. DVG DSSHOUHoX , OH[LVWHGHX[SDUDPpWUDJHVSRVVLEOHV $. WLYpVH. O p. ODLUDJHGHVWRX. KHVHWGHO p. UDQUHVWHDOOXPpSHQGDQW VH. RQGHVDSUqVODGHUQLqUHSUHVVLRQGHWRX. KHRXDSUqVO DSSHOUHoX 'pVD. WLYpO p. ODLUDJHUHVWHWRXMRXUVpWHLQW e. ODLUDJHSDUDPpWUDJH $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH]$IIL. KDJH 6pOH. WLRQQH](. ODLUDJH 6pOH. WLRQQH]O XQGHVGHX[SDUDPpWUDJHV$SSX\H]VXU9DOLGHU SRXUYDOLGHUYRWUH. KRL[ $SSX\H]VXU6RUWLU RXVXU O p. ODLUDJHHVWWRXMRXUVD. WLYp SRXUUHYHQLUjO p. UDQGHYHLOOH /RUVTXHOHWpOpSKRQHHVW. RQQH. WpjXQ. KDUJHXUGHEXUHDXRXjXQDGDSWDWHXUPDLQVOLEUHV &RQWUDVWHG DIIL. KDJH /H. RQWUDVWHGHO p. UDQSHXWrWUHUpJOpHQIRQ. WLRQGHO p. ODLUDJHDPELDQW 3RXUPRGLILHUOH. RQWUDVWHG DIIL. KDJH 7RX. KH7ULXPSURJUDPPDWLRQ $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH]$IIL. KDJH 6pOH. WLRQQH]&RQWUDVWH 5pJOH]OH. RQWUDVWHjO DLGHGH RX $SSX\H]VXU2N SRXUYDOLGHUOHUpJODJH $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH &HWWHWRX. KHDSRXUREMH. WLIGHSURSRVHUXQUD. . RXU. LYHUVODIRQ. WLRQOD SOXVVRXYHQWXWLOLVpH&HWWHIRQ. WLRQSHXWrWUHPRGLILpHSURJUDPPpH SRXUUpSRQGUHjYRVEHVRLQV/HVRSWLRQVGLVSRQLEOHVVRQWDIIL. KpHVGDQV OHPHQXDX. RXUVGHODVpOH. WLRQ , OH[LVWHGHX[PpWKRGHVSRXUSURJUDPPHUODWRX. KH7ULXP 'LUH. WHPHQWGHSXLVO p. UDQGHYHLOOH $SSX\H]ORQJXHPHQWVXU 8WLOLVH] RX HW SRXUIDLUHGpILOHUODOLVWHGHVRSWLRQVGLV SRQLEOHVSRXUODWRX. KH7ULXP $SSX\H]VXU9DOLGHU SRXUYDOLGHUYRWUH. KRL[ 9RWUHVpOH. WLRQHVW. RQILUPpHjO p. UDQHWYRXVUHYHQH]jO p. UDQ GHYHLOOH $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH])RQ. WLRQVWRX. KHV 6pOH. WLRQQH]3URJWRX. KHUDSLGH 8WLOLVH] RX HW SRXUIDLUHGpILOHUODOLVWHGHVRSWLRQVGLV SRQLEOHVSRXUODWRX. KH7ULXP $SSX\H]VXU9DOLGHU SRXUYDOLGHUYRWUH. KRL[ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH O DLGHGXPHQX 5pSRQVHVXUWRXWHWRX. KH &HWWHIRQ. WLRQSHUPHWGHUpSRQGUHjXQDSSHOUHoXHQDSSX\DQWVXUQ LP SRUWHTXHOOHWRX. KHjO H[. HSWLRQGHVWRX. KHV HW6LOHQ. H  $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH])RQ. WLRQVWRX. KHV 6pOH. WLRQQH]5pSRQVHWRXWHWRX. KH 6pOH. WLRQQH]$. WLYpRX'pVD. WLYp $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 5pSRQVHDXWRPDWLTXH &HWWHIRQ. WLRQQ HVWD. WLYHTXHVLOHWpOpSKRQHHVW. RQQH. WpjXQNLWPDLQV OLEUHVRXjXQ. DVTXHDXGLRHWSHUPHWDXWpOpSKRQHGHUpSRQGUH DXWRPDWLTXHPHQWjXQDSSHOUHoXDSUqVHQYLURQ. LQTVH. RQGHVVDQVTX LO /HVPHQXV VRLWQp. HVVDLUHG DSSX\HUVXUXQHWRX. KHDX. ODYLHU $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH])RQ. WLRQVDXWR 6pOH. WLRQQH]5pSRQVHDXWR 6pOH. WLRQQH]$. WLYpRX'pVD. WLYp $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 5DSSHODXWRPDWLTXH &HWWHIRQ. WLRQSHUPHWDXWpOpSKRQHGH. RPSRVHUDXWRPDWLTXHPHQWOHQX PpURG XQDSSHOTXLQ DSDVDERXWLSRXU. DXVHGHOLJQHR. . XSpHRXGHUp VHDXLQD. . HVVLEOH/HWpOpSKRQHHIIH. WXHWHQWDWLYHVSXLVDUUrWHGH . RPSRVHUOHQXPpUR $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH])RQ. WLRQVDXWR 6pOH. WLRQQH]5DSSHODXWRPDWLTXH 6pOH. WLRQQH]$. WLYpRX'pVD. WLYp $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 6L. HWWHIRQ. WLRQHVWD. WLYpHOHPHVVDJH5DSSHODXWRDSSDUDvWjO p. UDQ DSUqV. KDTXHWHQWDWLYHGHUDSSHOLQIUX. WXHXVHVXLYLG XQHWRQDOLWpGHUDS SHODXWRPDWLTXH6LOHUDSSHODXWRPDWLTXHDERXWLWOD. RPPXQL. DWLRQVH SRXUVXLWQRUPDOHPHQW/DWRX. KH6RUWLU RXWRXWHSUHVVLRQGHWRX. KH SHQGDQWOHSUR. HVVXVGHUDSSHOSHUPHWG DQQXOHUOHUDSSHODXWRPDWLTXHHW G DUUrWHUODQXPpURWDWLRQSRXU. HWDSSHO )RQ. WLRQVGHVp. XULWp /HVIRQ. WLRQVGHVp. XULWpGp. ULWHVGDQV. HWWHVH. WLRQSHUPHWWHQWGHSURWp JHUYRWUHWpOpSKRQHGHWRXWHDXWRULVDWLRQDQRUPDOH O LQYLWHGHO p. UDQVDLVLVVH]OH. RGHGHPDQGp. HOXL. LHVWDIIL. KpjO p. UDQ VRXVIRUPHG DVWpULVTXHV© ªHWDSSX\H]VXU2N (Q. DVG HUUHXUGHVDLVLHDSSX\H]VXU(IID. HU HWVDLVLVVH]ODYDOHXU. RU UH. WH eYLWH]G XWLOLVHUGHV. RGHVVLPLODLUHVDX[QXPpURVG XUJHQ. HSDUH[HPSOHDILQG pYLWHUWRXWH QXPpURWDWLRQLQYRORQWDLUHGH. HVQXPpURV &216(59(=926&2'(6(1/, (86Õ5/$3(57('(926&2'(63(87È75( 75Ë635e-8', &, $%/( &RGHGHYHUURXLOODJH 8Q. RGHYHUURXLOODJHHVWDVVR. LpjYRWUHWpOpSKRQHSRXUGHVUDLVRQVGHVp . XULWp, OYRXVSURWqJH. RQWUHWRXWD. . qVQRQDXWRULVpWpOpSKRQHHQJpQp UDOHWSDUDPpWUDJHV:$3 /HUpJODJHG XVLQHHVW1RXVYRXVUH. RPPDQGRQVGHPRGLILHU. H . RGHHWGHOH. RQVHUYHUHQOLHXVUVpSDUpPHQWGXWpOpSKRQH/H. RGHGH YHUURXLOODJHGXWpOpSKRQHHVWpJDOHPHQWUHTXLVSRXUUHPHWWUHj]pUROHV . RPSWHXUVG DSSHOV6L. HWWHIRQ. WLRQHVWD. WLYpHOHWpOpSKRQHYRXVGH PDQGHGHVDLVLUOH. RGHGHYHUURXLOODJHj. KDTXHPLVHVRXVWHQVLRQ 3RXUPRGLILHUOH. RGHGHYHUURXLOODJH $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH])RQ. WLRQVGHVp. XULWp6pOH. WLRQQH]&RGHGH YHUURXLOODJH 6pOH. WLRQQH]0RGLILHUOH. RGHHWVXLYH]OHVLQVWUX. WLRQVjO p. UDQ $SSX\H]VXU2N SRXUYDOLGHUOHQRXYHDX. RGH $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 3RXUD. WLYHURXGpVD. WLYHUOH. RGHGHYHUURXLOODJH $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH])RQ. WLRQVGHVp. XULWp6pOH. WLRQQH]&RGHGHYHU URXLOODJH 6pOH. WLRQQH]$. WLYpRX'pVD. WLYp 6LYRXV. KDQJH]O pWDWGX. RGHGHYpUURXLOODJHYRXVGHYH]VDLVLU . H. RGHSRXUTXHOH. KDQJHPHQWVRLWSULVHQ. RPSWH $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 0rPHVL. HWWHIRQ. WLRQHVWD. WLYpHYRXVSRXYH]WRXMRXUV. RPSRVHUOHVQXPpURVG XUJHQ. H &RGH3, 1 9RWUH. DUWH6, 0. RPSRUWHXQ. RGH3, 1GHj. KLIIUHVTXLSHUPHWGHOD SURWpJHUGHWRXWHXWLOLVDWLRQLQWHPSHVWLYH6L. HWWHIRQ. WLRQHVWD. WLYpH. H . RGHGRLWrWUHVDLVLj. KDTXHPLVHVRXVWHQVLRQGXWpOpSKRQHDVVR. Lp6L YRXVVDLVLVVH]XQ. RGH3, 1HUURQpWURLVIRLVGHVXLWHYRWUH. DUWH6, 0HVW EORTXpHHWYRXVGHYH]VDLVLUOH. RGH38. jKXLW. KLIIUHVIRXUQLSDUYRWUH RSpUDWHXUYRLUSDJH 3RXUD. WLYHURXGpVD. WLYHUOH. RGH3, 1 $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH])RQ. WLRQVGHVp. XULWp 6LODIRQ. WLRQpWDLWSUp. pGHPPHQWGpVD. WLYpHO p. UDQDIIL. KH $. WLYHUOH. RGH3, 16LHOOHHVWD. WLYpHYRXVREWHQH]jODSOD. H 'pVD. WLYHU. RGH3, 1HW0RGLILHUOH. RGH3, 1 $SSX\H]VXU9DOLGHU HWVXLYH]OHVLQVWUX. WLRQVjO p. UDQ $SSX\H]VXU2N SRXUYDOLGHUYRWUHVDLVLH /HPHVVDJH3, 1D. WLYpRX3, 1GpVD. WLYpDSSDUDvWEULqYHPHQWj O p. UDQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 3RXUPRGLILHUOH. RGH3, 1OH. RGH3, 1GRLWrWUHSUpDODEOHPHQWD. WLYp $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH])RQ. WLRQVGHVp. XULWp 6pOH. WLRQQH]0RGLILHUOH. RGH3, 1HWVXLYH]OHVLQVWUX. WLRQVj O p. UDQ $SSX\H]VXU2N SRXUYDOLGHUYRWUHQRXYHDX. RGH3, 1 / RSpUDWLRQHVW. RQILUPpHjO p. UDQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH /HVPHQXV &RGH3, 1 /H. RGH3, 1SHUPHWGH. RQWU{OHUO D. . qVj. HUWDLQHVIRQ. WLRQVGHYRWUHWp OpSKRQHWHOOHVTXHO D. WLYDWLRQRXODGpVD. WLYDWLRQGX. RQWU{OHGHVDSSHOV IL[HV)'1ODPRGLIL. DWLRQGXUpSHUWRLUHGHQXPpURVIL[HVODPLVHj]pUR GHV. RWVG DSSHORXODPRGLIL. DWLRQGHVSDUDPqWUHVG DIIL. KDJHGHV. RWV , OSHXWrWUHPRGLILpPDLVQHSHXWSDVrWUHD. WLYpRXGpVD. WLYp 3RXUPRGLILHUOH. RGH3, 1 $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH])RQ. WLRQVGHVp. XULWp 6pOH. WLRQQH]0RGLILHUOH. RGH3, 1HWVXLYH]OHVLQVWUX. WLRQVj O p. UDQ $SSX\H]VXU2N SRXUYDOLGHUYRWUHQRXYHDX. RGH3, 1 $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH /H. RGH38. 3, 1XQEOR. NNH\HVWXQ. RGHjKXLW. KLIIUHVIRXUQLSDUYRWUH RSpUDWHXU, OSHUPHWGH©GpEORTXHUªXQH. DUWH6, 0DSUqVWURLVVDLVLHVHUUR QpHVGH. RGH3, 18Q. RGH38. QHSHXWSDVrWUHOXRXPRGLILp 6DLVLVVH]OH. RGH38. jO LQYLWHGHO p. UDQHWDSSX\H]VXU2N 9RXVGHYH] DORUVVDLVLUXQQRXYHDX. RGH3, 16XLYH]OHVLQVWUX. WLRQVjO p. UDQSRXUUpL QLWLDOLVHUOH. RGH3, 1 6LYRXVVDLVLVVH]XQ. RGH38. HUURQpGL[IRLVGHVXLWHYRWUH. DUWH6, 0QHSHXWSOXVrWUHXWLOLVpH &RQWD. WH]YRWUHRSpUDWHXUSRXUREWHQLUXQHQRXYHOOH. DUWH &RGH38. &RGH38. /H. RGH38. HVWXQ. RGHjKXLW. KLIIUHVIRXUQLSDUYRWUHRSpUDWHXU, OSHU PHWGHGpEORTXHUXQH. DUWH6, 0DSUqVWURLVVDLVLHVGH. RGH3, 1HUURQp 8Q. RGH38. QHSHXWSDVrWUHOXRXPRGLILp6DLVLVVH]OH. RGH38. jO LQ YLWHGHO p. UDQ6XLYH]OHVLQVWUX. WLRQVjO p. UDQSRXUUpLQLWLDOLVHUOH. RGH 3, 1 6LYRXVVDLVLVVH]XQ. RGH38. HUURQpGL[IRLVGHVXLWHYRXVQHSRXYH]SOXVXWLOLVHUOHVIRQ. WLRQV Qp. HVVLWDQWOH. RGH3, 1&RQWD. WH]YRWUHRSpUDWHXUSRXUREWHQLUXQHQRXYHOOH. DUWH 0RWGHSDVVHG LQWHUGL. WLRQG DSSHO /HPRWGHSDVVHG LQWHUGL. WLRQG DSSHOHVWXWLOLVpSRXUVpOH. WLRQQHUOHVQL YHDX[G LQWHUGL. WLRQG DSSHOGp. ULWGDQVOHPHQX6HUYL. HV*60, QWHU GL. WLRQVG DSSHOVYRLUSDJH, OHVWIRXUQLSDUYRWUHRSpUDWHXU 3RXUPRGLILHU. HPRWGHSDVVH $SSX\H]VXU0HQX 6pOH. WLRQQH]6HUYL. HV*60 6pOH. WLRQQH], QWHUGL. WLRQVG DSSHOV 6pOH. WLRQQH]0RGLILHUPRWGHSDVVHHWVXLYH]OHVLQVWUX. WLRQVj O p. UDQ $SSX\H]VXU2N SRXUYDOLGHU $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 7DEOHDXUp. DSLWXODWLIGHV. RGHVHWGHVPRWVGHSDVVH &RGH 0RWGHSDVVH &RGHGH YHUURXLOODJH 3, 1 3, 1 38. 0RWGHSDVVH G LQWHUGL. WLRQ G DSSHO /RQJXHXU . KLIIUHV . KLIIUHV . KLIIUHV . KLIIUHV . KLIIUHV . KLIIUHV 1RPEUHG HVVDLV DXWRULVpV , OOLPLWp HVVDLV HVVDLV HVVDLV HVVDLV 'pWHUPLQp SDUOHUpVHDX 6LEORTXpRX SHUGX 5HWRXUQH]OH WpOpSKRQHDX IDEUL. DQW 'pEORTXpjO DLGH GX. RGH38. &RQWD. WH]YRWUH RSpUDWHXU &RQWD. WH]YRWUH RSpUDWHXU &RQWD. WH]YRWUH RSpUDWHXU 5pJODJHGHO KHXUHHWGHODGDWH 3RXUUpJOHUO KHXUHHWODGDWH $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH]+HXUHHWGDWH 6pOH. WLRQQH]5pJOHUO KHXUHRX5pJOHUODGDWH 6DLVLVVH]O KHXUHDXIRUPDWKHXUHVRXODGDWHGDQVOHIRUPDW LQGLTXp6LQp. HVVDLUHXWLOLVH]OHVWRX. KHV SRXUGpSOD. HUOH . XUVHXU $SSX\H]VXU2N SRXUYDOLGHUYRWUH. KRL[ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 8QPHVVDJHG HUUHXUDSSDUDvWVLXQHVDLVLHHUURQpHHVWHIIH. WXpH 5pJODJHVG XVLQH 8WLOLVH]. HPHQXSRXUUpWDEOLUOHVSDUDPqWUHVG RULJLQHGXWpOpSKRQH&HWWH RSpUDWLRQQ DDX. XQHIIHWVXUOH. RQWHQXGXUpSHUWRLUHRXVXUOH. RGHGH YHUURXLOODJH $SSX\H]VXU0HQX 6pOH. WLRQQH]5pJODJHV 6pOH. WLRQQH]5pJODJHVSDUGpIDXW 6pOH. WLRQQH]2XLRX1RQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH /HVPHQXV / KHXUHHWODGDWHVRQWDIIL. KpVHQSHUPDQHQ. HORUVTXHOHWpOpSKRQHHVWDOOXPp/ DQQpHQ HVW SDVDIIL. KpH /DVDXYHJDUGHGXUpJODJHGHODGDWHHWGHO KHXUHHVWDVVXUpHSHQGDQWWURLVKHXUHVSDUXQHSLOH LQWpJUpHDXWpOpSKRQHDORUVTXHOHWpOpSKRQHHVWpWHLQWHWVDQVEDWWHULHRXDYH. XQHEDWWHULH . RPSOqWHPHQWGp. KDUJpH$XGHOjGH. HWWHSpULRGHGHWURLVKHXUHVYRXVVHUH]SHXWrWUHREOLJp GHUpJOHUO KRUORJHORUVTXHYRXVUDOOXPHUH]OHWpOpSKRQH /HVSDUDPqWUHVSDUGpIDXWVRQWOHVVXLYDQWV )RQ. WLRQ 7\SHG DOHUWH 6RQQHULH 9ROXPH6RQQHULH7RX. KHV&RQYHUVDWLRQHW $ODUPH (. ODLUDJHHW&RQWUDVWH )RQ. WLRQV5pSRQVHWRXWHWRX. KH 5DSSHODXWRPDWLTXH5pSRQVHDXWR HW1XPpURWDWLRQUDSLGH 9ROXPHSURJUHVVLI 5pJODJHG XVLQH 6RQQHULH 7ULXP 9DOHXUVPR\HQQHV $. WLYpVH. HWYD OHXUPR\HQQH 'pVD. WLYpHV 'pVD. WLYp 8WLOLVDWLRQGHVIRQ. WLRQVD. . HVVRLUHV /HPHQX%XUHDX. RPSUHQGXQEOR. QRWHVXQH. DO. XODWUL. HGH. RQYHUVLRQGH GHYLVHVXQUpYHLODLQVLTX XQHIRQ. WLRQG H[WLQ. WLRQDOOXPDJHDXWRPDWLTXH %OR. QRWHV /HEOR. QRWHVSHUPHWG HQUHJLVWUHUMXVTX jGL[WH[WHVGHVHL]H. DUD. WqUHV . KD. XQDXPD[LPXP $SSX\H]VXU0HQX 6pOH. WLRQQH]%XUHDX 6pOH. WLRQQH]%OR. QRWHV 6pOH. WLRQQH]/LUHOHVQRWHV8WLOLVH] RX HW SRXUIDLUH GpILOHUODOLVWHGHVHQWUpHV6pOH. WLRQQH](. ULUHXQHQRWHSRXU . UpHUXQHQRXYHOOHHQWUpHGDQVOHEOR. QRWHV 3HQGDQWODOH. WXUHGHVHQWUpHVGXEOR. QRWHVDSSX\H]VXU DXPHQXVXLYDQW 2SWLRQ 6DXYHU 0RGLILHU 6XSSULPHU 6XSSULPHUWRXV $SSHOHU SRXUD. . pGHU $. WLRQ (QUHJLVWUHXQQXPpURGDQVOHUpSHUWRLUH 0RGLILHXQHHQWUpH 6XSSULPHXQHHQWUpH 6XSSULPHWRXWHVOHVHQWUpHV $SSHOOHOHQXPpURDIIL. KpGDQVO HQWUpHGXEOR. QRWHV &HVpOpPHQWVQHILJXUHURQWTXHVLO HQWUpHGXEOR. QRWHVHVWXQQX PpURGHWpOpSKRQH &RQYHUWLVVHXUGHGHYLVHV &HWWHIRQ. WLRQXWLOHSHUPHWGH. RQYHUWLUGHVGHYLVHV&HSHQGDQWYRXV GHYH]SDUDPpWUHUOHVGHYLVHVHWOHWDX[GH. KDQJHDYDQWGHSRXYRLU O XWLOLVHU/D. RQYHUVLRQHVW. DO. XOpHVHORQOHWDX[GH. KDQJHDYH. OD GHX[LqPHGHYLVHVpOH. WLRQQpH 3RXUVpOH. WLRQQHUODGHYLVHHWOHWDX[GH. KDQJH $SSX\H]VXU0HQX 6pOH. WLRQQH]%XUHDX 6pOH. WLRQQH]&RQYHUVLRQGHGHYLVHV 6pOH. WLRQQH]3DUDPqWUHV 6DLVLVVH]OHQRPGHODSUHPLqUHGHYLVH'ROODUSDUH[HPSOH $SSX\H]VXU2N 6DLVLVVH]OHQRPGHODGHX[LqPHGHYLVH<HQSDUH[HPSOH $SSX\H]VXU2N 6DLVLVVH]OHWDX[GH. KDQJH$SSX\H]VXU SRXULQVpUHUXQHYLU JXOHVLQp. HVVDLUH$SSX\H]VXU2N SRXUYDOLGHUO HQWUpH $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH O 8QLRQ0RQpWDLUH(XURSpHQQHHQHXURVOHVGHYLVHVGHVSD\VGHOD©=RQH(XURªYHXLOOH]VDLVLUOH WDX[GH. KDQJH. RPSOHWjVL[. KLIIUHVVLJQLIL. DWLIV3DUH[HPSOHHXUR )) 3RXU. DO. XOHUOHWDX[GH. RQYHUVLRQHQWUHOHVGHYLVHVVpOH. WLRQQpHV $SSX\H]VXU0HQX 6pOH. WLRQQH]%XUHDX 6pOH. WLRQQH]&RQYHUVLRQGHGHYLVHV 6pOH. WLRQQH]O XQHGHVGHX[SUHPLqUHVRSWLRQV 'DQVQRWUHH[HPSOHVRLW'ROODU!<HQVRLW<HQ!'ROODU 6DLVLVVH]ODVRPPHj. RQYHUWLU $SSX\H]VXU SRXULQVpUHUXQHYLUJXOHVLQp. HVVDLUH $SSX\H]VXU2N /HPRQWDQW. RQYHUWLHVWDIIL. Kp $SSX\H]VXU1RXYHDX SRXUHIIH. WXHUXQHQRXYHOOH. RQYHUVLRQ RXVXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 6LYRXVVRXKDLWH]XWLOLVHUYRWUH. RQYHUWLVVHXUGHGHYLVHVSRXU. RQYHUWLUGHVGHYLVHVPHPEUHVGH /D. RQYHUVLRQHQWUHGHX[GHYLVHVGHSD\VGHOD©=RQH(XURªRXHQWUHXQHGHYLVHG XQSD\VIDLVDQW SDUWLHGHOD©=RQH(XURªHWXQHGHYLVHQ HQIDLVDQWSDVSDUWLHGRLWrWUHHIIH. WXpHVXLYDQWODUqJOH GHWULDQJXODWLRQ. RQYHUVLRQGHODGHYLVHQDWLRQDOHHQHXURVHWG HXURVYHUVODGHX[LqPHGHYLVH QDWLRQDOH9RWUH. RQYHUWLVVHXUGHGHYLVHVQ DVVXUHSDV. HWWHIRQ. WLRQ3DU. RQVpTXHQWOHUpVXOWDW REWHQXQ HVWTX XQHDSSUR[LPDWLRQ 5pYHLO &HWWHIRQ. WLRQQDOLWpYRXVSHUPHWGHSDUDPpWUHUXQHDODUPHTXRWLGLHQQH 3RXUUpJOHUO KHXUHGHO DODUPHHWO D. WLYHU $SSX\H]VXU0HQX 6pOH. WLRQQH]%XUHDX 6pOH. WLRQQH]5pYHLOVLXQHKHXUHDGpMjpWpSDUDPpWUpH. HOOH. L HVWDIIL. KpH 6pOH. WLRQQH]$. WLYpHWVDLVLVVH]O KHXUHGHO DODUPHDXIRUPDW KHXUHVRXDSSX\H]VXU2N SRXUD. . HSWHUO KHXUHDIIL. KpH / p. UDQ. RQILUPHUDYRWUH. KRL[ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH V DIIL. KHUDj. {WpGHO KHXUH 6LO DODUPHHVWD. WLYpH. HWWHGHUQLqUHVHGp. OHQ. KHUDWRXVOHVMRXUVjODPrPHKHXUHMXVTX jGpVD. WLYDWLRQ /HVPHQXV 4XDQGO KHXUHGHO DODUPHHVWDWWHLQWHXQVLJQDOG DOHUWHVRQRUHUHWHQWLW SHQGDQWXQHPLQXWHDXPD[LPXP8QPHVVDJHG DOHUWH DLQVLTXH 2N HW$QQXOHU DSSDUDLVVHQWjO p. UDQ 6LOHWpOpSKRQHHVWpWHLQWDXPRPHQWGHO DODUPH. HOXL. LV DOOXPHDXWRPD WLTXHPHQW/ DODUPHVRQRUHUHWHQWLWO p. UDQHWOH. ODYLHUV DOOXPHQWHWOH YR\DQWOXPLQHX[GHYLHQWURXJH 3RXUXWLOLVHUOHWpOpSKRQHHQWDQWTX DODUPHGHUDSSHORXGHUpYHLO $SSX\H]VXU$QQXOHU RXXQHWRXWDXWUHWRX. KHVDXI9DOLGHU  SRXULQWHUURPSUHO DODUPH/HVL. {QHVGHO DODUPHUHVWHQWjO p. UDQHW O DODUPHUHWHQWLUDGHQRXYHDXWURLVPLQXWHVSOXVWDUG 2X $SSX\H]VXU9DOLGHU SRXULQWHUURPSUHO DODUPH /HWpOpSKRQHUHVWHDOOXPpV LOpWDLWpWDLQWDYDQWO KHXUHGHO DODUPH6LOH WpOpSKRQHHVWYHUURXLOOpRXVLOH. RGH3, 1HVWD. WLYpO DSSDUHLOGHPHXUHDLQ VLMXVTX j. HTXHYRXVQHO XWLOLVLH] 6LYRXVDSSX\H]$QQXOHU HWQRQVXU9DOLGHU OHVLQGL. DWHXUVG DODUPH UHVWHQWjO p. UDQSHQGDQWPLQXWHVHQYLURQ3DVVp. HGpODLOHWpOpSKRQH V pWHLQWRXV LOpWDLWDOOXPpDXPRPHQWGHO DODUPHUHYLHQWjO p. UDQGHYHLO OHQRUPDO / DODUPHUHWHQWLUDSHQGDQWXQHPLQXWHjPRLQVTXHYRXVQHO LQWHUURPSLH]$SSX\HUVXUXQH WRX. KHTXHO. RQTXHDXWUHTXHODWRX. KH2NPHWWUDILQjO DOHUWHVRQRUHPDLVQ DUUrWHUDSDV O DODUPH. HOOH. LUHWHQWLUDGHQRXYHDXWURLVPLQXWHVSOXVWDUG6LYRXVQ DSSX\H]SDVVXU2N DSUqVODWURLVLqPHHWGHUQLqUHDOHUWHVRQRUHO DODUPHQHVHPDQLIHVWHUDSDVGHQRXYHDXPDLV OHWpOpSKRQHUHVWHUDDOOXPpGDQVOHPRGHG DIIL. KDJHGHO DODUPHSHQGDQWTXLQ]HPLQXWHV $SUqV. HWWHSpULRGHOHWpOpSKRQHUHYLHQGUDGDQVO pWDWGDQVOHTXHOLOVHWURXYDLWDYDQWO DOHUWH 6LXQDSSHOHVWHQ. RXUVRXVLOHWpOpSKRQHVHWURXYHGDQVXQpWDWWUDQVLWRLUHSHQGDQWVRQDOOX PDJHSDUH[HPSOHDXPRPHQWRXQHDODUPHVXUYLHQW. HWWHGHUQLqUHVHUDUHWDUGpHMXVTX j. H TXHO DSSHORXO pWDWWUDQVLWRLUHVRLWWHUPLQp 6LO KHXUHGHO DODUPHHVWDWWHLQWHSHQGDQWXQDSSHOXQVLJQDOVRQRUHVSp. LDOUHWHQWLUDWRXWHV OHVVH. RQGHV/ DODUPHSHXWrWUHYDOLGpHQRUPDOHPHQW 6LO KHXUHGHO DODUPHHVWDWWHLQWHSHQGDQWO pWDEOLVVHPHQWG XQDSSHOVRUWDQWRXHQWUDQW O DODUPHHVWVXVSHQGXHMXVTX j. HTXHO DSSHOVRLWpWDEOLHWTXHOHWpOpSKRQHVH. RPSRUWH . RPPHGp. ULWGDQVOHSRLQW. LGHVVXV 6LODEDWWHULHHVWUHWLUpHDYDQWTXHO KHXUHGHO DODUPHQHVXUYLHQQHULHQQHVHSURGXLUDPDLVO pYp QHPHQWDODUPHVHUDPpPRULVp6LODEDWWHULHHVWUHSRVLWLRQQpHGDQVOHVPLQXWHVTXLVXLYHQW O KHXUHGHO DODUPHO DODUPHVHGp. OHQ. KHUDLPPpGLDWHPHQW$XGHOjGH. HWWHSpULRGHVHXOVOHV LQGL. DWHXUVYLVXHOVVHPDQLIHVWHURQW$SSX\H]VXU2NSRXUYDOLGHUHWLQWHUURPSUHO DODUPH 3RXUGpVD. WLYHUO DODUPH $SSX\H]VXU0HQX 6pOH. WLRQQH]%XUHDX 6pOH. WLRQQH]5pYHLO 6pOH. WLRQQH]'pVD. WLYp/ p. UDQ. RQILUPHUDYRWUH. KRL[ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH $WWHQWLRQ3HQVH]jGpVD. WLYHULPSpUDWLYHPHQWODIRQ. WLRQG DODUPH DYDQWG HPEDUTXHUGDQVXQDYLRQ3RXUGHVUDLVRQVGHVp. XULWp O XWLOLVDWLRQRXODPLVHHQVHUYL. HG XQWpOpSKRQHSRUWDEOHHVW VWUL. WHPHQWLQWHUGLWHjERUGGHVDYLRQV9RXVSRXYH]pJDOHPHQWUHWLUHU ODEDWWHULHDSUqVDYRLUpWHLQWO DSSDUHLO 9RLUOHV´&RQVLJQHVJpQpUDOHVµHQSDJH ([WLQ. WLRQDOOXPDJHDXWRPDWLTXH &HWWHIRQ. WLRQSHUPHWjO XWLOLVDWHXUGHSURJUDPPHUDXWRPDWLTXHPHQWOH WpOpSKRQHSRXUTX LOV DOOXPHHWV pWHLJQHjGHVKHXUHVGpILQLHVjO DYDQ. H 3RXUUpJOHUXQHKHXUHG DOOXPDJHRXG H[WLQ. WLRQ $SSX\H]VXU0HQX 6pOH. WLRQQH]%XUHDX 6pOH. WLRQQH]$OOXP([WLQ. WDXWR 6pOH. WLRQQH]([WLQ. WLRQDXWRRX$OOXPDJHDXWR 6pOH. WLRQQH]$. WLYpRX'pVD. WLYp&HWWHIRQ. WLRQDSSDUDvWj O p. UDQVLXQHKHXUHDGpMjpWp. KRLVLH 6DLVLVVH]XQHQRXYHOOHKHXUHRX. RQVHUYH]ODSUp. pGHQWH $SSX\H]VXU2N (QUHJLVWUpDSSDUDvWEULqYHPHQW $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH /HWpOpSKRQHV DOOXPHQRUPDOHPHQWjO KHXUH. KRLVLH6DLVLVVH]VLQp. HV VDLUHOH. RGHGHYHUURXLOODJHRXOH. RGH3, 1 5LHQQHVHSURGXLWVLOHWpOpSKRQHHVWGpMjDOOXPpjO KHXUHGHO DOOXPDJH 6LYRXVDYH]UpJOpOHWpOpSKRQHSRXUTX LOV pWHLJQHDXWRPDWLTXHPHQWOH PHVVDJHG DYHUWLVVHPHQW([WLQ. WLRQGDQVDLQVLTX XQ. RPSWHjUHERXUV DSSDUDLVVHQWjO p. UDQXQHPLQXWHDYDQWO KHXUHG H[WLQ. WLRQ/HSUR. HVVXV G H[WLQ. WLRQV LQWHUURPSWVLYRXVDSSX\H]VXU6RUWLU 5LHQQHVHSURGXLWVLOHPRELOHHVWGpMjpWHLQWjO KHXUHGHO H[WLQ. WLRQ /HVKHXUHVG H[WLQ. WLRQHWG DOOXPDJHDXWRPDWLTXHVQHSHXYHQWSDVrWUHLGHQWLTXHV 6LXQDSSHOVXUYLHQWDXPRPHQWGHO H[WLQ. WLRQOHSUR. HVVXVG H[WLQ. WLRQHVWUHSRUWpjODILQGH O DSSHO $WWHQWLRQ3HQVH]jGpVD. WLYHULPSpUDWLYHPHQWODIRQ. WLRQ G DOOXPDJHDXWRPDWLTXHDYDQWG HPEDUTXHUGDQVXQDYLRQ3RXUGHV UDLVRQVGHVp. XULWpO XWLOLVDWLRQRXODPLVHHQVHUYL. HG XQWpOpSKRQH SRUWDEOHHVWVWUL. WHPHQWLQWHUGLWHjERUGGHVDYLRQV9RXVSRXYH] pJDOHPHQWUHWLUHUODEDWWHULHDSUqVDYRLUpWHLQWO DSSDUHLO 9RLUOHV´&RQVLJQHVJpQpUDOHVµHQSDJH /HVPHQXV $JHQGD &HWWHIRQ. WLRQYRXVSHUPHWG HQUHJLVWUHUMXVTX jYLQJWpYpQHPHQWVGHYDQWVXUYHQLU GHPDQLqUHXQLTXHTXRWLGLHQQHRXKHEGRPDGDLUH/HWH[WHGHVHQWUpHVSHXW . RQWHQLUMXVTX jYLQJWKXLW. DUD. WqUHVDYH. RXVDQVDODUPHGHUDSSHOUpJOpHSRXU O KHXUHGHO pYpQHPHQWRXRXPLQXWHVDYDQW. HGHUQLHU /HVpYpQHPHQWVSHXYHQWrWUHYLVXDOLVpVLQGLYLGXHOOHPHQWRXHQOHVIDLVDQWGpILOHU SDUVHPDLQH 6DLVLHG XQpYpQHPHQWG DJHQGD $SSX\H]VXU0HQX 6pOH. WLRQQH]$JHQGD 6pOH. WLRQQH]1RXYHOpYpQHPHQW 6pOH. WLRQQH]8QLTXH4XRWLGLHQRX+HEGRPDGDLUH 6DLVLVVH]ODGDWHHWDSSX\H]VXU2N 6DLVLVVH]O KHXUHHWDSSX\H]VXU2N 6DLVLVVH]OHWH[WHHWDSSX\H]VXU2N , QGLTXH]VLYRXVVRXKDLWH]DYRLUXQDODUPHGHUDSSHOHWDSSX\H] VXU9DOLGHU (QUHJLVWUpDSSDUDvWEULqYHPHQWjO p. UDQ $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH OXPLqUHV DOOXPHURQWHWO pYpQHPHQWDSSDUDvWUDjO p. UDQ $SSX\H]VXU6RUWLU SRXUpWHLQGUHO DODUPH 6LO pYpQHPHQW. RQWLHQWXQQXPpURGHWpOpSKRQHXQHSUHVVLRQVXU GpV D. WLYHO DODUPHHWHIIH. WXHXQDSSHOYHUV. HQXPpUR 6LO DODUPHQ HVWSDVLQWHUURPSXHVXUOH. KDPSO pYpQHPHQWUHVWHDIIL. KpH jO p. UDQHWO DODUPHGHUDSSHOUHWHQWLWjLQWHUYDOOHVUpJXOLHUV$SUqVOHWU RLVLqPHUDSSHOO DODUPHUHWHQWLWVDQVDUUrWMXVTX jGpVD. WLYDWLRQ 6LO pYpQHPHQWVHSURGXLWDX. RXUVG XQDSSHOO DODUPHGHUDSSHOUHWHQWLW jO DUULqUHSODQ/HPRELOHV DOOXPHV LOHVWpWHLQWDXPRPHQWGHO DODUPHGH UDSSHO'DQVOHVGHX[. DVO DODUPHSHXWrWUHLQWHUURPSXHQRUPDOHPHQW 6LYRXVO DYH]. KRLVLO DODUPHGHUDSSHOUHWHQWLUDSHQGDQW. LQTVH. RQGHVOHYR\DQWURXJHHWOD 9LVXDOLVDWLRQG XQpYpQHPHQWG DJHQGD $SSX\H]VXU0HQX 6pOH. WLRQQH]$JHQGD 6pOH. WLRQQH]9RLUOHVpYpQHPHQWV /HVpYpQHPHQWVVRQWDIIL. KpVGDQVO RUGUHG DSUqVO KHXUHHWOD GDWHHWLQ. OXHQWO KHXUHOHGpEXWGXWH[WHOHQXPpURGH O pYpQHPHQWDXPD[LPXPHWLQGLTXHQWVLXQHDODUPH D pWpSDUDPpWUpH $SSX\H]VXU/LUH SRXUOLUHO LQWpJUDOLWpGXWH[WHGH O pYpQHPHQW 8WLOLVH] SRXUIDLUHGpILOHUOHVpYpQHPHQWVYHUVOHEDV $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 6XSSUHVVLRQpGLWLRQG XQpYpQHPHQWG DJHQGD $SSX\H]VXU0HQX 6pOH. WLRQQH]$JHQGD 6pOH. WLRQQH]9RLUOHVpYpQHPHQWV )DLWHVGpILOHUSRXUSDUYHQLUjO pYpQHPHQWTXHYRXVVRXKDLWH] VXSSULPHURXpGLWHUSXLVDSSX\H]VXU 6pOH. WLRQQH]eGLWHURX6XSSULPHU $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 6XSSUHVVLRQG pYpQHPHQWVp. KXV $SSX\H]VXU0HQX 6pOH. WLRQQH]$JHQGD 6pOH. WLRQQH]6XSSULPHUUGYp. KXV 7RXWHVOHVpYpQHPHQWVp. KXVVRQWDXWRPDWLTXHPHQWVXSSULPpV $SSX\H]VXU6RUWLU RXVXU SRXUUHYHQLUjO p. UDQGHYHLOOH 8WLOLVDWLRQGX. DOHQGULHU /DIRQ. WLRQGH. DOHQGULHUGHO DJHQGDSHXWrWUHXWLOLVpHSRXU YRLUGHVHQWUpHVGHPDQLqUHKHEGRPDGDLUH VDLVLUGHQRXYHDX[pYpQHPHQWV OLUHpGLWHUHWVXSSULPHUGHVpYpQHPHQWV $SSX\H]VXU0HQX 6pOH. WLRQQH]$JHQGD 6pOH. WLRQQH]&DOHQGULHU 1XPpURGHOD VHPDLQH /DVHPDLQHHQ. RXUVDSSDUDvWjO p. UDQ $XMRXUG KXL eYpQHPHQW /DGDWHGXMRXUHVWPLVHHQpYLGHQ. H6LTXHOTXHVpYpQHPHQWVRQWpWpSOD QLILpVSRXU. HWWHVHPDLQH. HX[. LDSSDUDLVVHQWjO p. UDQDYH. O L. {QH 3RXUYRLUXQpYpQHPHQWDSSX\H]GLUH. WHPHQWVXUOHVWRX. KHV j . RU UHVSRQGDQWDXMRXUGHODVHPDLQH$XWUHPHQWGLWDSSX\H]VXU SRXUOH OXQGL SRXUOHPDUGLHW. [. . . ] WLRQG DSSHO /HPRWGHSDVVHVDLVLVHPEOHHUURQp , QGH[ $ $. . qV333 $. . HVVRLUHV $GUHVVH, 3 $IIL. KDJHJUDSKLTXH , . {QHV $JHQGD &DOHQGULHU eGLWLRQG·XQpYpQHPHQW 1RXYHOpYpQHPHQW 6DLVLHG·XQpYpQHPHQW 6XSSUHVVLRQG·pYpQHPHQWV p. KXV 6XSSUHVVLRQG·XQpYpQHPHQW 6XSSULPHUUGYp. KXV 9LVXDOLVDWLRQG·XQpYpQHPHQW 9RLUOHVpYpQHPHQWV $ODUPH $. WLYDWLRQGpVD. WLYDWLRQ UDSSHO $OOXPDJHDXWRPDWLTXH $SSHO &RQIpUHQ. H ePLVVLRQ )LQ 0LVHHQDWWHQWH 5p. HSWLRQ 5HSULVH $SSHOV'XUpHV &RPSWHXUVG·DSSHOV &RXWVGHVDSSHOV -RXUQDOGHVDSSHOV $SSHOV G XUJHQ. H HQ. RQIpUHQ. H HWGXUpHV $SSHOVUHoXV 5HQYRL $YLVG DSSHO % %DWWHULH &KDUJH &RQVLJQHVGHVp. XULWp eOLPLQDWLRQ 0LVHHQSOD. H 5HWUDLW 6LJQDOGHQLYHDXGH . KDUJHIDLEOH 8WLOLVDWLRQ %OR. QRWHV %RvWH jRXWLOV6, 0 G HQYRL %UDLQ'UDLQ %XUHDX $OOXP([WLQ. WDXWR %OR. QRWHV &RQYHUVLRQGHGHYLVHV 5pYHLO & &DO. XODWUL. H &DUWH6, 0 &% &ODYLHU &/, &RGH GHYHUURXLOODJH 3, 1 3, 1 38. &RGHV G LQWHUID. HXWLOLVDWHXU *60 GHVp. XULWp &RPSRVLWLRQG XQQXPpUR HQPpPRLUH &RPSWHXUVG DSSHOV 5HPLVHj]pUR &RQIpUHQ. H &RQQH[LRQHQOLJQH )DYRULV )LQ 3HUVRQQDOLVDWLRQ &RQVLJQHVGHVp. XULWp $SSHOVG·XUJHQ. H %DWWHULH &RGHVGHVp. XULWp (QWUHWLHQHWPDLQWHQDQ. H *pQpUDOLWpV 5HVSRQVDELOLWp 9pKL. XOH &RQVXOWDWLRQGHV. RWV &RQWUDVWHG DIIL. KDJH &RQYHUWLVVHXUGHGHYLVHV &RXSXUHPL. UR &RWV ( e. ODLUDJH e. UDQGHYHLOOH ePLVVLRQG XQDSSHO (QUHJLVWUHPHQWGHQRPVHW GHQXPpURVGHWpOpSKRQH (QWUHWLHQHWPDLQWHQDQ. H (QYRLG XQPHVVDJH606 ([WHQVLRQGHO·DQWHQQH ([WLQ. WLRQDXWRPDWLTXH ) )DYRULV &UpDWLRQ 8WLOLVDWLRQ )'1 )LQG XQDSSHO )RQ. WLRQ3DXVH )RQ. WLRQV D. . HVVRLUHV GHVp. XULWp * *HVWLRQ GHV. RWV GHVPHVVDJHVHPDLO GHVPHVVDJHV606 *)8 *ORVVDLUH *URXSHIHUPpG XWLOLVDWHXUV + +HXUH 5pJODJH +HXUHHWGDWH ' , QGH[ 'DWH 5pJODJH 'DWHHWKHXUH 'pPDUUDJH 'pSDQQDJH 'HUQLHUVQXPpURV. RPSRVpV 'XUpHG·DSSHO , , . {QHV , GHQWLIL. DWLRQG DSSHO , QGL. DWLIVLQWHUQDWLRQDX[ , QIR. RQVRPPDWLRQV , QIRUPDWLRQVGH. RQVRPPDWLRQ , QIRVGLIIXVpHV (WDW /DQJXH 7\SHVGHPHVVDJHV , QWHUGL. WLRQG DSSHO 0RWGHSDVVH , QWHUQHW $. . qVHQOLJQH $GUHVVH, 3 $XWUHVLWH )DYRULV 0RWGHSDVVHGH. RQQH[LRQ 1RPG·XWLOLVDWHXU 1RPGHSDVVHUHOOH 3DJHG·D. . XHLO 3DUDPqWUHV 3DUDPqWUHVG·D. . qV 3HUVRQQDOLVDWLRQ 5pJODJHV 5pJODJHVSDUGpIDXW 0 - -HX[ -RXUQDOGHVDSSHOV / /H. WXUH G XQPHVVDJH606 G XQPHVVDJHHPDLO /LPLWHGH. UpGLW 0pPRLUH. D. KH 3XUJHU 0HQX 0HVVDJHULHYR. DOH 0HVVDJHV $OHUWHDXGLR %RLWHG·HQYRL %RLWHGHUp. HSWLRQ &UpHUPHVVDJH 3DUDPqWUHV 0HVVDJHVG HUUHXU 0HVVDJHVG LQIRUPDWLRQ eGLWLRQ /DQJXH /H. WXUH 6XSSUHVVLRQ 0HVVDJHVHPDLO *HVWLRQ /H. WXUH 3UpSDUDWLRQGXWpOpSKRQH 0HVVDJHV606 (QYRL *HVWLRQ /H. WXUH 3UpSDUDWLRQGXWpOpSKRQH 0LVH HQDWWHQWHG XQDSSHO KRUVWHQVLRQ VRXVWHQVLRQ 0RGH G DOHUWHDXGLR 0XOWLWDS 7HJL. 7 YLEUHXU 0RGqOHVGHPHVVDJH 0RWGHSDVVH G LQWHUGL. WLRQG DSSHO GH. RQQH[LRQ 1 1RP G XWLOLVDWHXU GHSDVVHUHOOH 1RPV (QUHJLVWUHPHQW 1XPpURYRWUH $IIL. KDJH 1XPpURG·DSSHO 1XPpURGHWpOpSKRQHPRELOH &D. KHU 0RQWUHU 1XPpURV G LQIRUPDWLRQ G DSSHOIL[HV 1XPpURVGHWpOpSKRQH (QUHJLVWUHPHQW 1XPpURWDWLRQ 'HUQLHUVQXPpURVDSSHOpV -RXUQDOGHVDSSHOV 5DSLGH 5pSHUWRLUH 5 2 2SpUDWLRQVGHEDVH $SSHO ePLVVLRQG·XQDSSHO 5p. HSWLRQG·XQDSSHO 2SpUDWLRQVJpQpUDOHV 2SWLRQVHQ. RXUVGH . RPPXQL. DWLRQ 2UJDQLVDWLRQGXPHQX 3 3DUDPpWUDJHGXWpOpSKRQH 3DUDPqWUHV G D. . qV GH. RQQH[LRQ 3DVVHUHOOH 3HUPXWDWLRQ 3HUVRQQDOLVDWLRQGXWpOpSKRQH 3, 1&RGH 3, 1&RGH 3UREOqPHV 3URJUDPPDEOH 7RX. KH7ULXP 38. &RGH 38. &RGHV 5DSSHO 'XUpHG·DSSHO DXWRPDWLTXH G·DODUPH 5p. HSWLRQG XQDSSHO 5H. KHU. KHDXWRPDWLTXH 5pJODJH GHO·KHXUH GHODGDWH GXYROXPH 5pJODJHV $IIL. KDJH (GLWLRQ )RQ. WLRQVDXWR )RQ. WLRQVGHVp. XULWp )RQ. WLRQVWRX. KHV +HXUHHWGDWH , QWHUQHW /DQJXH 5pJODJHVDXGLR 5pJODJHVSDUGpIDXW 9HUURXLOODJH. ODYLHU 5pJODJHVG XVLQH 5HPLVHHQSOD. HGHO·DQWHQQH 5HQYRLG DSSHO 5pSHUWRLUH $IIL. KDJHGHVQXPpURV $SSHOGHVQXPpURV 'LIIpUHQWHVWRQDOLWpV 5pSHUWRLUHV $MRXWHUQRP &RQVXOWHU (VSD. HOLEUH (WDWGHVUpSHUWRLUHV 0HVQXPpURV 1XPpURVIL[HV 5pSHUWRLUHVWRQDOLWpV 5pSRQGHXU $OHUWHDXGLR $SSHOHU 1XPpUR 5pSRQVH DXWRPDWLTXH VXUWRXWHWRX. KH 5HSULVHG XQDSSHO 5pVHDX 5HVKDSH 5pVROXWLRQGHSUREOqPHV 5HVSRQVDELOLWp 5pWURp. ODLUDJH 5pYHLO , QGH[ 6 6DLVLHGHWH[WHV 0XWOLWDS 7 6. KpPDGXWpOpSKRQH 6'1QXPpURV 6H. RQGDSSHO 6p. XULWp &RQVLJQHV GDQVXQYpKL. XOH 6pOH. WLRQGHODODQJXH 6HUYL. HV*60 $YLVG·DSSHO (QYRLGHPRQQXPpUR *HVWLRQGHVUpVHDX[ *URXSHVSULYpV , QWHUGL. WLRQVG·DSSHOV 5p. HSWLRQ, ' 5HQYRLVG·DSSHO 6HUYL. HVUpVHDX 606 6ROXWLRQV 6RQQHULH G DSSHO 7 7HJL. 7 7RQDOLWpPXOWLIUpTXHQ. H'70) 7RX. KHV 9 9HUURXLOODJH &RGH GX. ODYLHU 9LEUHXU VRQQHULH SXLVVRQQHULH 9ROXPH SURJUHVVLI )$0$ 6HUYL. HSDQHXURSpHQ 3RXUWRXWHPDLQWHQDQ. H. RQWD. WH]HQSUHPLHUOLHX YRWUHIRXUQLVVHXU (Q. DVGHSUREOqPHYHXLOOH]. RQWD. WHUO DJHQW 0, 768%, 6+, OHSOXVSUR. KHHQ. RQVXOWDQWODOLVWH. L GHVVRXVSRXUREWHQLUOHV. RRUGRQQpHVGHVDXWUHV . HQWUHVGHPDLQWHQDQ. H 52<$80(81, 7pO )5$1&( 7pO $//(0$*1( 7pO &DUWHGHPDLQWHQDQ. H*60 (63$*1( 7pO , 7$/, ( 7pO , 5/$1'( 7pO 3RXUREWHQLUXQVHUYL. HVRXVJDUDQWLHYRXVGHYH] SUpVHQWHUODID. WXUHRULJLQDOHGHYRWUHpTXLSHPHQWRX XQHSUHXYHLUUpIXWDEOHG D. KDWDLQVLTXH. HWWH. DUWH 9HXLOOH]. RPSOpWHUOHVLQIRUPDWLRQVPDQTXDQWHV 9HXLOOH]. RQVXOWHUOHVWHUPHVHW. RQGLWLRQVGHOD JDUDQWLH 'DWHG D. KDW 1XPpURGHID. WXUH 1RPGXUHYHQGHXU /LHXG D. KDW 1XPpURGHWpOGXUHYHQGHXU &RQGLWLRQVGHJDUDQWLHSDQHXURSpHQQHVG XWLOLVDWHXU*60 9RXVQHSRXYH]EpQpIL. LHUGHODSUpVHQWHJDUDQWLHTXHVLYRXVrWHV O D. KHWHXUG RULJLQH 0, 768%, 6+, JDUDQWLWOHSURGXLW. RQWUHWRXWGpIDXWGHPDWLqUHHWGH IDEUL. DWLRQSRXUXQHGXUpHGHGRX]HPRLVj. RPSWHUGHODGDWH G D. KDWjYRWUHUHYHQGHXU6RXVUpVHUYHGHV. RQGLWLRQV. LDSUqV 0, 768%, 6+, . RXYUHWRXVOHV. RWVGHSLq. HVHWPDLQG ±XYUHSRXUOD UpSDUDWLRQRXOHUHPSOD. HPHQWGXSURGXLWRXGHSLq. HV\. RPSULVSDUGX PDWpULHOGHW\SHVLPLODLUHORUVTXHUpDOLVpSDUXQ. HQWUHGHPDLQWHQDQ. H *60DJUppSDU0, 768%, 6+, /DSURSULpWpGHWRXWSURGXLWUHPSOD. pHVW WUDQVIpUpHj0, 768%, 6+, 7RXWHUp. ODPDWLRQGRLWrWUHDGUHVVpHjXQ. HQWUHGHPDLQWHQDQ. H*60 DJUppSDU0, 768%, 6+, VLWXpGDQVXQGHVSD\VPHQWLRQQpGDQVOD. DUWHGH VHUYL. HMRLQWHDYH. OHSURGXLW(Q. DVGHGLIIL. XOWpYRXVSRXYH]. RQWD. WHU OHVVR. LpWpV0, 768%, 6+, LQGLTXpHVVXUOD. DUWHGHVHUYL. HSRXUREWHQLUOHV . RRUGRQQpHVGHYRWUH. HQWUHGHPDLQWHQDQ. H*60DJUppOHSOXVSUR. KH /DJDUDQWLHQHVHUDD. . RUGpHTXHVXU. RQILUPDWLRQGHYRWUHGDWHG D. KDW SDUODSUpVHQWDWLRQGHO RULJLQDOGHODID. WXUHGHYRWUHUHYHQGHXURXGH YRWUHTXLWWDQ. HG D. KDWLQGLTXDQWOHQXPpURGHVpULHD. . RPSDJQpGHOD . DUWHGHVHUYL. H0, 768%, 6+, VHUpVHUYHOHGURLWG DSSUp. LHUVLOHV. RQGLWLRQV G H[HU. L. HGHODJDUDQWLHVRQWELHQUpXQLHV0, 768%, 6+, QHVHUDSDV UHVSRQVDEOHGHVIUDLVGHWUDQVSRUWjO DOOHUHWDXUHWRXUG XQ. HQWUHGH PDLQWHQDQ. H*60DJUpp/HSURGXLWYR\DJHjYRVULVTXHVHWSpULOV /DSUpVHQWHJDUDQWLHQH. RXYUHSDV D OHVEDWWHULHVGpIH. WXHXVHV E OHQRQUHVSH. WGHVLQVWUX. WLRQVG XWLOLVDWLRQ .  OHVIUDLVG LQVWDOODWLRQRXGHUHWUDLWORUVTXHOHSURGXLWHVWLQVWDOOpGDQV XQYpKL. XOH G OHVGpIDXWVRXSDQQHVUpVXOWDQWG XQD. . LGHQWG XQHXWLOLVDWLRQ GpIH. WXHXVHG XQHPDXYDLVHLQVWDOODWLRQRXG XQHPDXYDLVHUpSDUDWLRQ SDUXQUpSDUDWHXUQRQDJUppGHPDQLSXODWLRQVRXPRGLIL. DWLRQVGH QpJOLJHQ. HG XQHXWLOLVDWLRQQH. RUUHVSRQGDQWSDVjO XVDJHQRUPDOGH IRU. HPDMHXUHG LQILOWUDWLRQG HDXG XWLOLVDWLRQGDQVGHV. RQGLWLRQV DWPRVSKpULTXHVGpIDYRUDEOHVKXPLGLWpRXWHPSpUDWXUH H ODPRGLIL. DWLRQRXOHV. RWVGHPRGLIL. DWLRQGXSURGXLWSRXUOHPHWWUH HQ. RQIRUPLWpDYH. XQHUpJOHPHQWDWLRQOR. DOHRXQDWLRQDOHHQPDWLqUH GHVp. XULWpORUVTX XQHWHOOHUpJOHPHQWDWLRQH[. qGHOHVQRUPHV KDUPRQLVpHVGHO 8QLRQ(XURSpHQQH I OHSUpMXGL. H. RQVp. XWLIjO LPPRELOLVDWLRQGXSURGXLWRXXQTXHO. RQTXH JDLQPDQTXpRXSHUWHVXELH J ODSHUWHGHWHPSVGH. RPPXQL. DWLRQODSHUWHG XWLOLVDWLRQGHWRXW pTXLSHPHQWORXpRXD. . HVVRLUH K O pPLVVLRQGHVLJQDX[HUURQpVRXLQVXIILVDQWVVXUOHUpVHDXGH . RPPXQL. DWLRQPRELOHODPLVHjMRXUGHORJL. LHOVVXLWHjGHV PRGLIL. DWLRQVGHSDUDPqWUHVGHIRQ. WLRQQHPHQWGXUpVHDXOHV YDULDWLRQVGHWHQVLRQGXUpVHDXGHVSDUDPqWUHVHUURQpVGH. DUWH6, 0 . DUWHPpPRLUHSRXUXQH. RQQH[LRQDXUpVHDX L OHVGRPPDJHV. DXVpVSDUGHVD. . HVVRLUHVQRQ0, 768%, 6+, 8QHGHPDQGHRXXQHSUHVWDWLRQ. RXYHUWHSDUODJDUDQWLHQHGRQQHSDVGURLW jXQHSURORQJDWLRQGHODGXUpHGHJDUDQWLHVDXIORUVTXHLPSRVpSDUODORL QDWLRQDOHDSSOL. DEOH /DSUpVHQWHJDUDQWLHV DSSOLTXHXQLTXHPHQWVLOHSURGXLWHVWD. KHWpHW XWLOLVpGDQVO 8QLRQ(XURSpHQQHOD1RUYqJHO , VODQGHRXOD6XLVVH (17287e7$7'(&$86(9286%e1e), &, (='(/$*$5$17, (/e*$/(3285 9, &(6&$&+e6(1)5$1&('$16/(6&21', 7, 216), ;e(63$5/(6$57, &/(6 (768, 9$176'8&2'(&, 9, / [. . . ]