2018 rapport ANNUEL...(6 &203(7(1&(6 ($8 (7 $66$,1,66(0(17 / ( 6(59,&( 38%/,& '( / ¶ ($8 327$%/(/d...

sur le Prix et la Qualité du Service Public de l’eau potable et de l’assainissement

2018

rapport ANNUEL

Station d’épuration de Vitrolles

5346(DX$VVDLQLVVHPHQW±7HUULWRLUHGX3D\VG¶$L[Y0pWURSROH$L[0DUVHLOOH3URYHQFH

3UpDPEXOH

&HUDSSRUWDQQXHOVXUOHSUL[HWODTXDOLWpGXVHUYLFHSXEOLFGHO¶HDXHWGHO¶DVVDLQLVVHPHQWHVWGHVWLQpjO¶LQIRUPDWLRQGXSXEOLFHWGHVpOXV,OUHSUpVHQWHXQpOpPHQWPDMHXUGDQVODPLVHHQ°XYUHORFDOHGHODWUDQVSDUHQFHHWGHVSULQFLSHVGHJRXYHUQDQFHGHVVHUYLFHVG¶HDXHWG¶DVVDLQLVVHPHQW

,OUpSRQGDX[REOLJDWLRQVUpJOHPHQWDLUHVSUpYXHVSDU

/DORLQGXGpFHPEUHVXUO¶(DXHWOHV0LOLHX[$TXDWLTXHV /HV DUWLFOHV /' GX&RGH*pQpUDO GHV&ROOHFWLYLWpV7HUULWRULDOHVHW OH GpFUHW

G¶DSSOLFDWLRQQGXPDL /¶DUUrWpGXPDLUHODWLIDX[UDSSRUWVDQQXHOVVXUOHSUL[HWODTXDOLWpGHVVHUYLFHVSXEOLFV

G¶HDXSRWDEOHHWG¶DVVDLQLVVHPHQW /¶DYLVGHODPLVVLRQLQWHUPLQLVWpULHOOHGHO¶HDXHQGDWHGXRFWREUH /¶DUUrWpGXGpFHPEUHPRGLILDQWO¶DUUrWpGXPDL /¶DUUrWpGXDYULOIL[DQW OHVGLIIpUHQWVSRVWHVGHFRWVGHJHVWLRQUHODWLIVjODPLVHHQ

SODFHGHO¶H[SpULPHQWDWLRQGHODWDULILFDWLRQVRFLDOHGHO¶HDX /DORLQGXDRWSRUWDQWQRXYHOOHRUJDQLVDWLRQWHUULWRULDOHGHOD5pSXEOLTXH /HGpFUHWQGXGpFHPEUHUHODWLIDX[PRGDOLWpVGHWUDQVPLVVLRQGXUDSSRUW

DQQXHOVXUOHSUL[HWODTXDOLWpGXVHUYLFHSXEOLFGHO¶HDXSRWDEOHHWGHO¶DVVDLQLVVHPHQW

/D 0pWURSROH $L[0DUVHLOOH3URYHQFH HVW XQ eWDEOLVVHPHQW 3XEOLF GH &RRSpUDWLRQ ,QWHUFRPPXQDOH(3&,XQLTXHFUppHDXHUMDQYLHUSDUODIXVLRQGHVVL[LQWHUFRPPXQDOLWpVSUpH[LVWDQWHVVXUVRQWHUULWRLUH/HVGLVSRVLWLRQVOpJLVODWLYHVHQFDGUDQWFHWWHFUpDWLRQVRQWODORL0$37$0GXMDQYLHUHWODORL1275HGXDRW

/D0pWURSROH$L[0DUVHLOOH3URYHQFHHVWO¶XQHGHVWURLVPpWURSROHVjEpQpILFLHUG¶XQVWDWXWVSpFLILTXHHWHOOHHVW ODSOXVYDVWHGH)UDQFH(OOHUpXQLWFRPPXQHVUpSDUWLHVVXUWURLVGpSDUWHPHQWVVXUXQWHUULWRLUHGHNPð&HVPLOOLRQG¶KDELWDQWVUHSUpVHQWHQWGHODSRSXODWLRQGHOHQVHPEOHGHODUpJLRQ3URYHQFH$OSHV&WHG$]XU


6200$,5(

35(6(17$7,21*(1(5$/(

/¶($8(7/¶$66$,1,66(0(17'$16/$0(75232/( 7(55,72,5(&21&(51((73238/$7,21'(66(59,( /(6&203(7(1&(6($8(7$66$,1,66(0(17

/HVHUYLFHSXEOLFGHO¶HDXSRWDEOH /HVHUYLFHSXEOLFGHO¶DVVDLQLVVHPHQWFROOHFWLI /HVHUYLFHSXEOLFGHO¶DVVDLQLVVHPHQWQRQFROOHFWLI

/(602'(6'(*(67,21 'pOpJDWLRQVGHVHUYLFHSXEOLF'63 5pJLHV

/(6(59,&(38%/,&'(/¶($8327$%/(

/(6&+,))5(6&/(6'(/¶$11(( )$,760$548$176 /(3$75,02,1('86(59,&(

/HVDFKDWVHWYHQWHVG¶HDX /HWUDLWHPHQW /HUpVHDXGHGLVWULEXWLRQ

/$48$/,7('(/¶($8 /$',675,%87,21

5HQGHPHQW /$48$/,7('86(59,&(5(1'8$8;86$*(56 /$*(67,21),1$1&,(5(

/HVYROXPHVIDFWXUpV /HWDX[G¶LPSD\pV %XGJHWGXVHUYLFH $QDO\VHGXFRPSWHG¶H[SORLWDWLRQ'63HWUpJLHV &RQWULEXWLRQjXQIRQGVGHVROLGDULWp

/(6(78'(6(775$9$8;

/(6(59,&(38%/,&'(/¶$66$,1,66(0(17&2//(&7,)

/(6&+,))5(6&/(6'(/¶$11(( )$,760$548$176 /(3$75,02,1('86(59,&(

/DFROOHFWH /HWUDLWHPHQW

/(5(6($8'(&2//(&7( /(62895$*(6'¶(385$7,21 /$*(67,21'(6'(&+(76 /$48$/,7('86(59,&(5(1'8$8;86$*(56 /$*(67,21),1$1&,(5(

/HVYROXPHVIDFWXUpV /HWDX[G¶LPSD\pV %XGJHWGXVHUYLFH $QDO\VHGXFRPSWHG¶H[SORLWDWLRQ'63XQLTXHPHQW &RQWULEXWLRQjXQIRQGVGHVROLGDULWp

/(6(78'(6(775$9$8;

/(6(59,&(38%/,&'(/¶$66$,1,66(0(17121&2//(&7,)


/(6&+,))5(6&/(6'(/¶$11(( )$,760$548$176 '(6&5,37,21'86(59,&( /¶$&7,9,7('86(59,&( %8'*(7'86(59,&(

7$5,)6'(/¶($8

/(67$5,)6'(/¶($8(7'(/¶$66$,1,66(0(17

$&7,216(1)$9(85'8'(9(/233(0(17'85$%/((7'(/$62/,'$5,7(

$11(;( ),&+(6$56 ±48$/,7('(6($8;$11(;(7$%/($8;5(&$3,78/$7,)6'(6,1',&$7(856'(3(5)250$1&(3285/¶($83$5&20081(

$11(;( 7$%/($83$75,02,1(($8$11(;( &2037(6'¶(;3/2,7$7,21'(7$,//(63285/¶($8&$5(&$$11(;( /,67('(6(78'(6(775$9$8;5($/,6(6(1$11(;(7$%/($8;5(&$3,78/$7,)6'(6,1',&$7(856'(3(5)250$1&(3285/¶$66$,1,66(0(173$5

&20081($11(;( 7$%/($83$75,02,1($66$,1,66(0(17$11(;( &2037(6'¶(;3/2,7$7,21'(7$,//(63285/¶$66$,1,66(0(17&$5(&$$11(;( 63$1&


35(6(17$7,21*(1(5$/(

/¶($8(7/¶$66$,1,66(0(17'$16/$0(75232/(

/D0pWURSROH$L[0DUVHLOOH3URYHQFHHVWRUJDQLVpHHQVL[ WHUULWRLUHVFRUUHVSRQGDQWDX[VL[DQFLHQV(3&,

0DUVHLOOH3URYHQFHFRPPXQHV 3D\VG¶$L[FRPPXQHV 3D\V6DORQDLVFRPPXQHV 3D\VG¶$XEDJQHHWGHO¶(WRLOHFRPPXQHV ,VWUHV2XHVW3URYHQFHFRPPXQHV 3D\VGH0DUWLJXHVFRPPXQHV

/HVVL[FRQVHLOVGH7HUULWRLUHH[HUFHQWGHVFRPSpWHQFHVRSpUDWLRQQHOOHVGHSUR[LPLWpSDUGpOpJDWLRQGXFRQVHLOGHOD0pWURSROH

$LQVL OHV VHUYLFHV SXEOLFV GH O¶HDX SRWDEOH HW GH O¶DVVDLQLVVHPHQW VRQW DVVXUpV SDU FKDFXQ GHVWHUULWRLUHVVXUOHXUSpULPqWUHJpRJUDSKLTXHSRXUOHFRPSWHHWGDQVOHUHVSHFWGHVREMHFWLIVHWUqJOHVIL[pVSDUOD0pWURSROH

$X QLYHDX PpWURSROLWDLQ OHV FRPSpWHQFHV ©(DX HW $VVDLQLVVHPHQWª VRQW H[HUFpHV VRXV ODUHVSRQVDELOLWpGHOD3UpVLGHQWHGHOD0pWURSROH0DGDPH0DUWLQH9DVVDOHWGX9LFH3UpVLGHQWGpOpJXpjO¶(DXHWjO$VVDLQLVVHPHQW0RQVLHXU5RODQG*LEHUWL

/HSUpVHQW5DSSRUWDQQXHOVXUOH3UL[HWOD4XDOLWpGHV6HUYLFHV5346pWDEOLWSDUFKDTXH7HUULWRLUHHVW

SUpVHQWpHQFRQVHLOGH7HUULWRLUH VRXPLVjO¶DYLVGHOD&&63/FRPPLVVLRQFRQVXOWDWLYHGHVVHUYLFHVSXEOLFVORFDX[FRPSRVpH

G¶pOXVPpWURSROLWDLQVHWG¶DVVRFLDWLRQV SUpVHQWpHQFRQVHLOGHOD0pWURSROH SUpVHQWpHQFRQVHLO0XQLFLSDOGHFKDTXHFRPPXQH

3DU DLOOHXUV OHV GLIIpUHQWV LQGLFDWHXUV GHV VHUYLFHV SXEOLFV GH O¶HDX HW GH O¶DVVDLQLVVHPHQW VRQWUHQVHLJQpVVXU OHVLWHGH O¶REVHUYDWRLUHQDWLRQDOGHVVHUYLFHVG¶HDXHWG¶DVVDLQLVVHPHQWGHO¶21(0$ZZZVHUYLFHHDXIUDQFHIU

7(55,72,5(&21&(51((73238/$7,21'(66(59,(

/H7HUULWRLUHGX3D\VG¶$L[GHOD0pWURSROH$L[0DUVHLOOH3URYHQFHHVWFRPSRVpGHFRPPXQHV

,OUHSUpVHQWHXQEDVVLQGHYLHGHKDELWDQWVSRSXODWLRQOpJDOH,16((HQYLJXHXUDXHU

MDQYLHUVRLWSUqVGHGHODSRSXODWLRQWRWDOHGHOD0pWURSROH

/H7HUULWRLUHGX3D\VG¶$L[FRXYUHXQHVXSHUILFLHG¶HQYLURQNPð

/DYLOOH©FHQWUHªHVW$L[HQ3URYHQFHKDELWDQWVVRLWGHODSRSXODWLRQGX7HUULWRLUH

$X QLYHDX GX 7HUULWRLUH OHV FRPSpWHQFHV ©(DX HW $VVDLQLVVHPHQWª VRQW H[HUFpHV VRXV ODUHVSRQVDELOLWp GX 3UpVLGHQW GX &RQVHLO GH 7HUULWRLUH 0DGDPH 0DU\VH -2,66$,160$6,1,HWGX9LFH3UpVLGHQWGpOpJXpjO¶(DXHWjO$VVDLQLVVHPHQW0RQVLHXU$UQDXG0(5&,(5


/DJHVWLRQRSpUDWLRQQHOOHHVWDVVXUpHDXVHLQGH OD'LUHFWLRQGHO¶(DXGHO¶$VVDLQLVVHPHQWHWGX3OXYLDOGXWHUULWRLUHGX3D\VG$L[ SRXUOHVFRPPXQHVHQUpJLHDXVHLQGHFKDTXHUpJLH

/(6&203(7(1&(6($8(7$66$,1,66(0(17

/(6(59,&(38%/,&'(/¶($8327$%/(

/DPLVVLRQGXVHUYLFHSXEOLFGHO¶HDXSRWDEOHFRQVLVWHjDVVXUHUODSURWHFWLRQGHODUHVVRXUFHHWjGpOLYUHUXQHHDXSURSUHj ODFRQVRPPDWLRQDX URELQHWGHVXVDJHUVVHORQ OHVFULWqUHVGX&RGHGH OD6DQWp3XEOLTXH

3RXUFHOD O¶HDXHVWSUpOHYpHGDQVOHPLOLHXQDWXUHOQDSSHSKUpDWLTXHQDSSHDOOXYLDOHRXVRXUFHRXSXLVpHGDQVOH&DQDOGH0DUVHLOOHOH&DQDOGH3URYHQFHRXOH&DQDOGH&UDSRQQH&HWWHHDXEUXWHHVWWUDLWpHDILQGH OD UHQGUHSRWDEOH SXLVGLVWULEXpHVXU O¶HQVHPEOHGX WHUULWRLUHj WUDYHUVXQ UpVHDXGHFDQDOLVDWLRQHWGHVWRFNDJHLQWHUPpGLDLUH


/(6(59,&(38%/,&'(/¶$66$,1,66(0(17&2//(&7,)

/HVJUDQGVREMHFWLIVGXVHUYLFHSXEOLFGHO¶DVVDLQLVVHPHQWFROOHFWLIVRQWGHJDUDQWLUOHVHQMHX[GHVDQWpSXEOLTXHOLpVDXWUDQVSRUWHWDXWUDLWHPHQWGHVHIIOXHQWVHWGHSUpVHUYHUOHVPLOLHX[QDWXUHOVHQOLPLWDQWOHV UHMHWV SROOXDQWV /D TXDOLWp GHV UHMHWV GRLW VDWLVIDLUH DX[ QRUPHV LPSRVpHV SDU OHV DUUrWpVSUpIHFWRUDX[G¶DXWRULVDWLRQGHVGLIIpUHQWVV\VWqPHVG¶DVVDLQLVVHPHQW

/HDXXQHIRLVFRQVRPPpHHVWDLQVLGpSROOXpHGDQVOHVVWDWLRQVGpSXUDWLRQVJpUpHVSDUOD0pWURSROH$L[0DUVHLOOH3URYHQFH

/(6(59,&(38%/,&'(/¶$66$,1,66(0(17121&2//(&7,)

/HV PLVVLRQV GX VHUYLFH SXEOLF GH O¶DVVDLQLVVHPHQW QRQ FROOHFWLI FRQVLVWHQW j FRQWUOHU OH ERQIRQFWLRQQHPHQWGHVLQVWDOODWLRQVSULYDWLYHVG¶DVVDLQLVVHPHQWQRQFROOHFWLIDILQGHJDUDQWLUO¶HIILFDFLWpGXWUDLWHPHQWGHVHDX[XVpHVHWSUpVHUYHUDLQVLODTXDOLWpGHVPLOLHX[UpFHSWHXUV

/(602'(6'(*(67,21

/¶H[SORLWDWLRQGXVHUYLFHSXEOLFGHO¶HDXHVWDVVXUpH 3RXUFRPPXQHVHQGpOpJDWLRQVGHVHUYLFHSXEOLFSDUVRFLpWpVSULYpHV6(0

9(2/,$&(26$85HW68(=6((5& 3RXUFRPPXQHVHQUpJLHFRPPXQDOHRXLQWHUFRPPXQDOH

/¶H[SORLWDWLRQGXVHUYLFHSXEOLFGHO¶DVVDLQLVVHPHQWFROOHFWLIHVWDVVXUpHSDU 3RXUFRPPXQHVHQGpOpJDWLRQVGHVHUYLFHSXEOLFSDUVRFLpWpVSULYpHV6(0

9(2/,$&(26$85HW68(=6((5& 3RXUFRPPXQHVHQUpJLHFRPPXQDOHRXLQWHUFRPPXQDOH

/¶H[SORLWDWLRQGXVHUYLFHSXEOLFGHO¶DVVDLQLVVHPHQWQRQFROOHFWLIHVWDVVXUpHHQUpJLHSDUOH7HUULWRLUHGX3D\VG$L[

'(/(*$7,216'(6(59,&(38%/,&'63

6XUFHUWDLQHVFRPPXQHVGXWHUULWRLUHODJHVWLRQGXVHUYLFHSXEOLFGHO¶HDXSRWDEOHHVWGpOpJXpHjGHVVRFLpWpVSULYpHVTXLDVVXUHQWSRXUOHFRPSWHGHOD&ROOHFWLYLWpODSURGXFWLRQOHWUDLWHPHQWODGLVWULEXWLRQHWODTXDOLWpGHO¶HDXSRWDEOHDXSUqVGHVXVDJHUVDLQVLTXHO¶HQWUHWLHQGHVLQVWDOODWLRQVHWGXSDWULPRLQH

,O HQHVW GHPrPHSRXU ODJHVWLRQGXVHUYLFHSXEOLF GH O¶DVVDLQLVVHPHQW FROOHFWLI SRXU ODTXHOOHGHVVRFLpWpVSULYpHVDVVXUHQWSRXUOHFRPSWHGH OD&ROOHFWLYLWp ODFROOHFWHHWGH ODGpSROOXWLRQGHVHDX[GDQV OH UHVSHFWGHVQRUPHVHQ YLJXHXU(OOHV DVVXUHQWpJDOHPHQW O¶HQWUHWLHQGHV LQVWDOODWLRQVHW GXSDWULPRLQH

/HFRQWUOHGHVGpOpJDWLRQVHVWHIIHFWXpSDUOD'LUHFWLRQ$GMRLQWHH[SORLWDWLRQHWWUDYDX[/HSLORWDJHHWOHVXLYLGHVFRQWUDWVGHGpOpJDWLRQHVWRUJDQLVpGHODPDQLqUHVXLYDQWH

GHVUpXQLRQVGHVXLYLDYHFOHVGpOpJDWDLUHVDILQGH VXLYUHOHUHVSHFWGHVREMHFWLIVHWGHVHQJDJHPHQWVFRQWUDFWXHOVLQGLFDWHXUVGHJHVWLRQ pFKDQJHUGHVLQIRUPDWLRQVVXUODJHVWLRQGXVHUYLFHSXEOLF pWXGLHUOHVDVSHFWVILQDQFLHUVGHVFRQWUDWV HIIHFWXHUXQVXLYLRSpUDWLRQQHOHWGHFRRUGLQDWLRQDYHF OH WHUULWRLUH VXLYLGHVGHPDQGHVGHV

DERQQpVXVDJHUVFROOHFWLYLWpVWUDYDX[

O¶DQDO\VHGX5DSSRUW$QQXHOGX'pOpJDWDLUH5$' XQDXGLWILQDQFLHUUpDOLVpVXUO¶HQVHPEOHGHV5$'SDUXQSUHVWDWDLUHH[WHUQH

/HVXLYLGHVLQGLFDWHXUVWHFKQLTXHVHWILQDQFLHUVGXVHUYLFH


5(*,(6

/HVHUYLFHSXEOLFGHO¶HDXSRWDEOHHVWJpUpHQUpJLHVXUOHVFRPPXQHVG$L[HQ3URYHQFH*DUGDQQH*UpDVTXH6,%$00LPHW6,%$03HUWXLV6,920'XUDQFH/XEHURQ6DLQW0DUF-DXPHJDUGH6DLQW3DXO/H]'XUDQFH6DLQW(VWqYH-DQVRQ6LPLDQH&ROORQJXH6,%$09HQHOOHV

/HVHUYLFHSXEOLFGHO¶DVVDLQLVVHPHQWFROOHFWLIHVWJpUpHQUpJLHVXUOHVFRPPXQHVG$L[HQ3URYHQFH&KkWHDXQHXIOH5RXJH*DUGDQQH*UpDVTXH6,%$00LPHW6,%$03HUWXLV6,920'XUDQFH/XEHURQ6DLQW$QWRQLQVXU%D\RQ6DLQW0DUF-DXPHJDUGH6DLQW3DXO/H]'XUDQFH6DLQW(VWqYH-DQVRQ6LPLDQH&ROORQJXH6,%$09HQHOOHV

/¶DVVDLQLVVHPHQWQRQFROOHFWLIHVWJpUpSDUOH6HUYLFH3XEOLFG¶$VVDLQLVVHPHQW1RQ&ROOHFWLI63$1&DX VHLQ GH OD 'LUHFWLRQ (DX $VVDLQLVVHPHQW HW 3OXYLDO HW H[HUFH OHV PLVVLRQV GH FRQWUOHV GHVLQVWDOODWLRQVQHXYHVHWH[LVWDQWHV

/HWDEOHDXSURSRVpFLDSUqVUHSUHQGOHPRGHGHJHVWLRQGHODFRPSpWHQFHHDXHWDVVDLQLVVHPHQWSRXUFKDTXHFRPPXQHGXWHUULWRLUHGX3D\VG$L[

&RPPXQH (DX $VVDLQLVVHPHQW 67(3

%HDXUHFXHLO 6(0

6(0

%RXF%HO$LU 6(0±

6(0±

6(0±

&DEULqV 6(0

6(0

&KkWHDXQHXIOH5RXJH 6(0

5pJLH

&RXGRX[ 6(0

UpVHDX6(0±

6(0

eJXLOOHV 6$85

&(2

)XYHDX 6(0±

6(0

6(0ILQ

-RXTXHV 6((5&

6((5&

/D5RTXHG$QWKpURQ 6(0

6(0

/DPEHVF 6(0

6(0

/H3X\6W5pSDUDGH 6(0

6(0

/H7KRORQHW &(2±

&(2±

/HV3HQQHV0LUDEHDX 6(0±

6(0

0H\UDUJXHV 6(0

6(0

0H\UHXLO 6$85

6$85


3H\QLHU 6(0±

6(0±

3H\UROOHVHQ3URYHQFH 6(0

6(0

3X\ORXELHU 6(0

6(0

5RJQHV 6((5&

6((5&

5RXVVHW 6(0

UpVHDX67(3 6(0±

2796(0VWHS(5,

6W$QWRQLQVXU%D\RQ 6(0

5pJLH

6DLQW&DQQDW 6((5&

6((5&

7UHWV 6(0

6(0

9DXYHQDUJXHV 6(0

6(0

9HQWDEUHQ 6(0

UpVHDX6(0

9LWUROOHV 6(0

6$85


/(6(59,&(38%/,&'(/¶($8327$%/(

/(6&+,))5(6&/(6'(/¶$11((

&H UDSSRUW SUpVHQWH OHV GRQQpHV JOREDOHV VXU OH 7HUULWRLUH /HV GRQQpHV SDU FRPPXQH VRQWGpWDLOOpHVHQDQQH[H

)$,760$548$176

/¶DQQpHDYXOHWUDQVIHUWHIIHFWLIGHO¶H[HUFLFHGHVFRPSpWHQFHVHDXDVVDLQLVVHPHQWSOXYLDOHW'(&,GHVFRPPXQHVDX&RQVHLOGH7HUULWRLUHGX3D\VG$L[HQWUDLQDQWXQHQpFHVVDLUHUHVWUXFWXUDWLRQRUJDQLVDWLRQQHOOHGHVpOXVHWGHVVHUYLFHVGXWHUULWRLUH

3DUDLOOHXUVOD5pJLHGHV(DX[GX3D\VG¶$L[DpWpFUppSDUOH&RQVHLOGH0pWURSROHGXMXLQ

/(3$75,02,1('86(59,&(

/HWDEOHDXSUpVHQWpHQDQQH[HLQGLTXHSRXUFKDTXHFRPPXQHGXWHUULWRLUHGX3D\VG$L[ORULJLQHGHODSURGXFWLRQHQHDXOHWUDLWHPHQWOHVWRFNDJH

KDELWDQWVGHVVHUYLVHVWLPDWLRQV

DERQQpV

P IDFWXUp

FRPSWHXUV

XQLWpVGHWUDLWHPHQW

5HQGHPHQWGH

NPGHFDQDOLVDWLRQVGHGLVWULEXWLRQ


/(6$&+$76(79(17(6'¶($8

/H7HUULWRLUHDFKqWHGHO¶HDXPHQ

3DUDLOOHXUVOHWHUULWRLUHYHQGSDUFRQYHQWLRQGHO¶HDXWUDLWpHDX7HUULWRLUHGX3D\V6DORQDLVP

HQSRXUOHVFRPPXQHVGH/D)DUH/HV2OLYLHUVHW5RJQDF

/DVpFXULVDWLRQGHODUHVVRXUFH

/¶DGGXFWLRQHQHDXSRWDEOHG¶XQVHFWHXUHVW©VpFXULVpHªORUVTX¶DXPRLQVGHX[UHVVRXUFHVGLVWLQFWHVVRQWRXSHXYHQWrWUHXWLOLVpHV

/HVFRPPXQHVGH%HDXUHFXHLO%RXF%HO$LU&DEULqV*DUGDQQH/DPEHVF3HUWXLV/H3X\6WH5pSDUDGH 3X\ORXELHU 5RJQHV /D 5RTXH G¶$QWKpURQ HW 9DXYHQDUJXHV GLVSRVHQW G¶XQH GRXEOHDOLPHQWDWLRQ

/(75$,7(0(17

XQLWpVGHWUDLWHPHQWSHUPHWWHQWGHSURGXLUHPG¶HDXSRWDEOHSDUDQ

9RLUWDEOHDXGXSDWULPRLQHHQDQQH[H

/(5(6($8'(',675,%87,21

(QOHOLQpDLUHGXUpVHDXG¶HDXSRWDEOHKRUVEUDQFKHPHQWVHVWGHNP

/HQRPEUHGHEUDQFKHPHQWVHVWHVWLPpjVRLWXQOLQpDLUHG¶HQYLURQNP

/$48$/,7('(/¶($8

'HV DQDO\VHV HW FRQWUOHV SpULRGLTXHV UpDOLVpV SDU O¶H[SORLWDQW GDQV OH FDGUH GH O¶DXWRVXUYHLOODQFHSHUPHWWHQWGHV¶DVVXUHUGHODTXDOLWpGHO¶HDXEUXWHGHVUHVVRXUFHVHWGHOµHDXGLVWULEXpHDXURELQHW

/¶$JHQFH5pJLRQDOHGH6DQWp$56UpDOLVHpJDOHPHQWGHVFRQWUOHVVDQLWDLUHVRIILFLHOVFKDTXHDQQpHVXUOHVHDX[EUXWHVHWOHVHDX[WUDLWpHV/HFRPSWHUHQGXDQQXHOGHO¶$56HVWSUpVHQWpHQDQQH[HGHFHUDSSRUW

/¶HQVHPEOHGHVUpVXOWDWVG¶DQDO\VHVGXFRQWUOHVDQLWDLUHHVWGLVSRQLEOHVXUOHVLWHLQWHUQHWVROLGDULWHVVDQWHJRXYIU


2Q FRPSWH SUpOqYHPHQWV QRQ FRQIRUPHV VXU O¶HQVHPEOH GX WHUULWRLUH SRXU OHV DQDO\VHV SK\VLFRFKLPLTXHVHWSRXUOHVDQDO\VHVPLFURELRORJLTXHV

(QO¶LQGLFHG¶DYDQFHPHQWGHODSURWHFWLRQGHODUHVVRXUFHHQHDX3HVWGH

/$',675,%87,21

5(1'(0(17

%LODQGHVYROXPHVPLVHQ°XYUHGDQVOHF\FOHGHO¶HDXSRWDEOHHQ

3

7DX[GHFRQIRUPLWpGHVSUpOqYHPHQWVVXUOHVHDX[GLVWULEXpHVGXSRLQWGHYXHEDFWpULRORJLTXH

3

7DX[GHFRQIRUPLWpGHVSUpOqYHPHQWVVXUOHVHDX[GLVWULEXpHVGXSRLQWGHYXHSK\VLFRFKLPLTXH

%LODQ (DXGH[FHOOHQWHTXDOLWp

9ROXPHFRQVRPPpDXWRULVp

P

&RQVRPPDWLRQFRPSWDELOLVpHP

3HUWHVP

&RQVRPPDWLRQVDQVFRPSWDJH

HVWLPpHP

9ROXPHGHVHUYLFH

P

,PSRUWDWLRQVG¶HDXWUDLWpHP

([SRUWDWLRQVG¶HDXWUDLWpHP

3URGXFWLRQ

P

9ROXPHPLVHQGLVWULEXWLRQ

P


'¶DSUqV ODFLUFXODLUHQ'(GXDYULO±DQQH[H ,9 ODGpILQLWLRQGHV WHUPHV LQGLTXpVVXU OHVFKpPDHVWODVXLYDQWH

R 3URGXFWLRQYROXPHSURGXLWYROXPHLVVXGHVRXYUDJHVGHSURGXFWLRQGXVHUYLFHSRXUrWUHLQWURGXLWGDQVOHUpVHDXGHGLVWULEXWLRQ

R 9ROXPH PLV HQ GLVWULEXWLRQ VRPPH GX YROXPH SURGXLW HW GX YROXPH DFKHWp HQ JURVLPSRUWDWLRQVGLPLQXpGXYROXPHYHQGXHQJURVH[SRUWDWLRQV

R ,PSRUWDWLRQVYROXPHDFKHWpHQJURVYROXPHG¶HDXSRWDEOHHQSURYHQDQFHG¶XQVHUYLFHG¶HDXH[WpULHXU

R ([SRUWDWLRQV YROXPH YHQGX HQ JURV YROXPH G¶HDX SRWDEOH OLYUp j XQ VHUYLFH G¶HDXH[WpULHXU/HVYHQWHVG¶HDXjGHV LQGXVWULHOVQHVRQWSDVGHVYHQWHVHQJURVPDLVGHVYHQWHVjGHVDERQQpVGHW\SHLQGXVWULHO

R &RQVRPPDWLRQVDQVFRPSWDJHYROXPHXWLOLVpVDQVFRPSWDJHSDUGHVXVDJHUVFRQQXVDYHFDXWRULVDWLRQ

R &RQVRPPDWLRQFRPSWDELOLVpHYROXPHUpVXOWDQWGHV UHOHYpVGHVDSSDUHLOVGHFRPSWDJHGHVDERQQpV

R 9ROXPHGHVHUYLFHYROXPHXWLOLVpSRXUO¶H[SORLWDWLRQGXUpVHDXGHGLVWULEXWLRQ

3HUIRUPDQFHGXUpVHDX

(QOHUHQGHPHQWGXUpVHDX3HVWGH

/HUHQGHPHQWGXUpVHDXHVWREWHQXHQIDLVDQWOHUDSSRUWHQWUHG¶XQHSDUWOHYROXPHFRQVRPPpDXWRULVpDXJPHQWpGHVYROXPHVYHQGXVjG¶DXWUHVVHUYLFHVSXEOLFVG¶HDXSRWDEOHHW G¶DXWUHSDUW OH YROXPHSURGXLWDXJPHQWpGHVYROXPHVDFKHWpVjG¶DXWUHVVHUYLFHVSXEOLFVG¶HDXSRWDEOH

&HWLQGLFDWHXUHVWHVVHQWLHOFDULOLQGLTXHOHQLYHDXGHYpWXVWpGXUpVHDXHWVRQHIILFDFLWp

/HVUHQGHPHQWVSDUFRPPXQHVHWURXYHQWHQDQQH[H

(QO¶LQGLFHOLQpDLUHGHVYROXPHVQRQFRPSWpV3HVWGHPNPMRXU

(QO¶LQGLFHOLQpDLUHGHSHUWHV3GX7HUULWRLUHHVWGHPNPMRXU

/HVLQGLFHVOLQpDLUHVGHSHUWHVSHUPHWWHQWGHFDUDFWpULVHUO¶pWDWRXOHIRQFWLRQQHPHQWG¶XQUpVHDX&HVRQWHQRXWUHGHVLQGLFDWHXUVLQWpUHVVDQWVFDULOVSHUPHWWHQWGHFRPSDUHUOHVUpVHDX[GHFROOHFWLYLWpVGRQWO¶pWHQGXHHWOHGHJUpG¶XUEDQLVDWLRQVRQWWUqVGLVWLQFWVHQOHVUDSSRUWDQWjGHVYDOHXUVGHUpIpUHQFH

5HQRXYHOOHPHQWGHVUpVHDX[

(QOHWDX[PR\HQGHUHQRXYHOOHPHQWGHVUpVHDX[G¶HDXSRWDEOH 3HVWGH

&HW LQGLFDWHXU GRQQH OH SRXUFHQWDJH GH UHQRXYHOOHPHQWPR\HQ DQQXHO FDOFXOp VXU OHV GHUQLqUHVDQQpHVGXUpVHDXG¶HDXSRWDEOHSDUUDSSRUWjODORQJXHXUWRWDOHGXUpVHDXKRUVEUDQFKHPHQWV)DXWHGHGRQQpHVVXUOHVFLQTGHUQLqUHVDQQpHVO¶LQGLFDWHXUQ¶HVWSDVVLJQLILFDWLI

&RQQDLVVDQFHGXSDWULPRLQH

(QO¶LQGLFHGHFRQQDLVVDQFHHWGHJHVWLRQSDWULPRQLDOHGHVUpVHDX[G¶HDXSRWDEOH 3GX7HUULWRLUHHVWGHSRLQWV


&HW LQGLFH SHUPHW GpYDOXHU OH QLYHDX GH FRQQDLVVDQFH GX UpVHDX GHDX SRWDEOH HW GH VXLYUH VRQpYROXWLRQ

&HWLQGLFHFRUUHVSRQGjO¶LQGLFHOHSOXVEDVUHOHYpVXUOHWHUULWRLUHODPR\HQQHGHVLQGLFHVSDUFRPPXQHHWGHSRLQWV

/$48$/,7('86(59,&(5(1'8$8;86$*(56

/HVLQGLFDWHXUVGHSHUIRUPDQFH

(QOHWDX[PR\HQG¶RFFXUUHQFHGHVLQWHUUXSWLRQVGHVHUYLFHQRQSURJUDPPpHV3HVWGHDERQQpV

&HV LQWHUUXSWLRQV GH VHUYLFH VRQW GXHV HQ JpQpUDO j GHV UXSWXUHV GH FDQDOLVDWLRQV'HV FRXSXUHVSHXYHQWrWUHpJDOHPHQWGpFLGpHVLQRSLQpPHQWSRXUFDXVHGHSROOXWLRQUHSUpVHQWDQWXQGDQJHUSRXUODSRSXODWLRQ

(QOHWDX[PR\HQGHUHVSHFWGXGpODLPD[LPDOG¶RXYHUWXUHGHVEUDQFKHPHQWVSRXUOHVQRXYHDX[DERQQpV3HVWGH

&HGpODLHVWFDOFXOpjSDUWLUGXQHGHPDQGHFRPSOqWH SDU WpOpSKRQHRXSDUpFULWHQSHUPHWWDQW OHWUDLWHPHQW

(QOHWDX[GHUpFODPDWLRQV3HVWGHDERQQpV

&HWLQGLFDWHXUFRPSUHQGOHVUpFODPDWLRQVpFULWHVGHWRXWHQDWXUHUHODWLYHDXVHUYLFHGHO¶HDXUHoXHVSDUODFROOHFWLYLWpHW OHVRSpUDWHXUVJHVWLRQQDLUHVjO¶H[FHSWLRQGHFHOOHVTXLVRQWUHODWLYHVDXSUL[GHO¶HDX

/$*(67,21),1$1&,(5(

/(692/80(6)$&785(6

/HVYROXPHVIDFWXUpVHQVRQWGHP

/(7$8;'¶,03$<(6

/HWDX[PR\HQG¶LPSD\pVVXUOHVIDFWXUHVG¶HDX3HVWGH

,OHVWjQRWHUTXHODORLQGXDYULOGLWH©ORL%URWWHVªDSSOLFDEOHGHSXLVOHIpYULHU LQWHUGLWDX[GLVWULEXWHXUVGHFRXSHU O¶DUULYpHG¶HDXRXG¶HQ UpGXLUH OHGpELWGDQVXQ ORJHPHQWORUVTX¶XQFOLHQWQHSD\HSOXVVHVIDFWXUHV&HWWHORLGLPLQXHIRUWHPHQWOHVDFWLRQVGHFRHUFLWLRQHQFDVG¶LPSD\pV


%8'*(7'86(59,&(

/HVJUDQGVpTXLOLEUHVILQDQFLHUVGXEXGJHWDQQH[H(DX3RWDEOHGHODGLUHFWLRQGHO¶HDXHWGHO¶DVVDLQLVVHPHQWGX7HUULWRLUHGX3D\VG¶$L[

/HVRSpUDWLRQVG¶RUGUHVRQWGHVRSpUDWLRQVFRPSWDEOHVSHUPHWWDQWGHSDVVHUOHVpFULWXUHVQpFHVVDLUHVDX[RSpUDWLRQVGH ILQG¶H[HUFLFHEXGJpWDLUH HW Q¶RQW DXFXQH LQFLGHQFHVXU OHV HQFDLVVHPHQWVHW OHVGpFDLVVHPHQWV

(WDWGHODGHWWH(DXDX

0RQWDQWHQ¼5HFHWWHVUpHOOHV 'pSHQVHVUpHOOHV (SDUJQHEUXWH

&DSLWDOUHVWDQWGDX

'XUpHGH[WLQFWLRQGHODGHWWH3 DQQpHV

5(&(77(6 '(3(16(6

)21&7,211(0(17

,19(67,66(0(17

5HFHWWHVGHJHVWLRQGHVHUYLFHVGRQWVXUWD[HVHW

UHGHYDQFHVN¼

3URGXLWVILQDQFLHUVHWH[FHSWLRQQHOV

N¼

5HFHWWHVG¶RUGUHN¼

'pSHQVHVGHJHVWLRQGHVHUYLFHVGRQWFKDUJHVGH

SHUVRQQHOHWIUDLV N¼

&KDUJHVILQDQFLqUHVHWH[FHSWLRQQHOOHV

N¼

'pSHQVHVG¶RUGUHN¼

5HFHWWHVG¶pTXLSHPHQWVGRQWVXEYHQWLRQV

N¼

5HFHWWHVILQDQFLqUHVN¼

5HFHWWHVG¶RUGUHN¼

'pSHQVHVG¶pTXLSHPHQWVpWXGHVHWWUDYDX[

N¼

'pSHQVHVILQDQFLqUHVHPSUXQWVHWGHWWHVN¼

'pSHQVHVG¶RUGUHN¼


/HVJUDQGVpTXLOLEUHVILQDQFLHUVGXEXGJHWDQQH[H(DX3RWDEOHGHV5pJLHV

$1$/<6('8&2037('¶(;3/2,7$7,21'63

6XLYLGX&$5(

$QQpH (FDUW

DQQpH1

3URGXLWV ¼ ¼

&KDUJHV ¼ ¼

5pVXOWDWDYDQWLPSW ¼ ¼

5(68/7$7 ¼ ¼

9RLUGpWDLOSDUFRPPXQHVHQDQQH[H

5(&(77(6 '(3(16(6

)21&7,211(0(17

,19(67,66(0(17


UHGHYDQFHVN¼


N¼

5HFHWWHVG¶RUGUHN¼


SHUVRQQHOHWIUDLV N¼


N¼

'pSHQVHVG¶RUGUHN¼


N¼


5HFHWWHVG¶RUGUHN¼


N¼


'pSHQVHVG¶RUGUHN¼


&2175,%87,21$81)21'6'(62/,'$5,7(

(QOHPRQWDQWGHVDEDQGRQVGHFUpDQFHVHWYHUVHPHQWVjXQIRQGVGHVROLGDULWp3HVWGH¼

/(6(78'(6(775$9$8;

9RLUOLVWHHQDQQH[HDYHFOHGpWDLOGHVRSpUDWLRQVSDUFRPPXQHV


/(6(59,&(38%/,&'(/¶$66$,1,66(0(17&2//(&7,)

/(6&+,))5(6&/(6'(/¶$11((

&H UDSSRUW SUpVHQWH OHV GRQQpHV JOREDOHV VXU OH 7HUULWRLUH /HV GRQQpHV SDU FRPPXQH VRQWGpWDLOOpHVHQDQQH[H

)$,760$548$176

/¶DQQpHDYXOHWUDQVIHUWHIIHFWLIGHO¶H[HUFLFHGHVFRPSpWHQFHVHDXDVVDLQLVVHPHQWSOXYLDOHW'(&,GHVFRPPXQHVDX&RQVHLOGH7HUULWRLUHGX3D\VG$L[HQWUDLQDQWXQHQpFHVVDLUHUHVWUXFWXUDWLRQRUJDQLVDWLRQQHOOHGHVpOXVHWGHVVHUYLFHVGXWHUULWRLUH

3DUDLOOHXUVOD5pJLHGHV(DX[GX3D\VG¶$L[DpWpFUppSDUOH&RQVHLOGH0pWURSROHGXMXLQ

/(3$75,02,1('86(59,&(

9RLUOLVWHHQDQQH[H

/$&2//(&7(


DERQQpV

PIDFWXUpV

WRQQHVGHERXHVpYDFXpHV

VWDWLRQVGpSXUDWLRQ

NPGHUpVHDX[GHFROOHFWH

(QOHOLQpDLUHGXUpVHDXG¶DVVDLQLVVHPHQWKRUVEUDQFKHPHQWVHVWGHNP


/(75$,7(0(17

9RLUOLVWHHQDQQH[H

/(5(6($8'(&2//(&7(

*HVWLRQGHVHDX[XVpHVDXWUHVTXHGRPHVWLTXHV

DXWRULVDWLRQVGHGpYHUVHPHQWVG¶HIIOXHQWVQRQGRPHVWLTXHVRQWpWpGpOLYUpHVVXUOH7HUULWRLUH

&HWLQGLFDWHXU'FRPSWDELOLVHOHQRPEUHG¶DUUrWpVDXWRULVDQWOHGpYHUVHPHQWG¶HDX[XVpHVDXWUHVTXHGRPHVWLTXHVGDQVOHUpVHDXSXEOLFGHFROOHFWHHQDSSOLFDWLRQHWFRQIRUPpPHQWDX[GLVSRVLWLRQVGHO¶DUWLFOH/GX&RGHGHOD6DQWp3XEOLTXH

SRLQWVQRLUVHQPR\HQQHSRXUNPGHUpVHDXGHFROOHFWH3

/HVSRLQWVQRLUVGXUpVHDXGHFROOHFWHGHVHDX[XVpHVVRQWGHVVHFWHXUVQpFHVVLWDQWGHVLQWHUYHQWLRQVIUpTXHQWHVGHFXUDJHVRLWDXPRLQVGHX[LQWHUYHQWLRQVSDUDQSUpYHQWLYHVRXFXUDWLYHV

*HVWLRQSDWULPRQLDOHGXUpVHDXGHFROOHFWH

(QOHWDX[PR\HQ GHUHQRXYHOOHPHQWGHVUpVHDX[G¶DVVDLQLVVHPHQW3HVWGH

&HW LQGLFDWHXU GRQQH OH SRXUFHQWDJH GH UHQRXYHOOHPHQWPR\HQ DQQXHO FDOFXOp VXU OHV GHUQLqUHVDQQpHVGXUpVHDXG¶HDX[XVpHVSDUUDSSRUWjODORQJXHXUWRWDOHGXUpVHDXKRUVEUDQFKHPHQWV)DXWHGHGRQQpHVVXUOHVFLQTGHUQLqUHVDQQpHVO¶LQGLFDWHXUQ¶HVWSDVVLJQLILFDWLI

(QO¶LQGLFHGHFRQQDLVVDQFHHWGHJHVWLRQSDWULPRQLDOHGHVUpVHDX[G¶DVVDLQLVVHPHQW3GX7HUULWRLUHHVWGHSRLQWV

&HWLQGLFHSHUPHWGpYDOXHUOHQLYHDXGHFRQQDLVVDQFHGXUpVHDXG¶DVVDLQLVVHPHQWHWGHVXLYUHVRQpYROXWLRQ


(QOHWDX[GHFRQIRUPLWpGXUpVHDXGHFROOHFWH3GX7HUULWRLUHQ¶HVWSDVHQFRUHFRQQXLOGRLWrWUHFRPPXQLTXpXOWpULHXUHPHQWSDUOD''70

&HWLQGLFDWHXUSHUPHWGpYDOXHUODFRQIRUPLWpGXUpVHDXGHFROOHFWHGXQVHUYLFHGDVVDLQLVVHPHQWDXUHJDUGGHVGLVSRVLWLRQVUqJOHPHQWDLUHVLVVXHVGHODGLUHFWLYHHXURSpHQQH(58


/¶LQGLFHGHFRQQDLVVDQFHGHVUHMHWVDXPLOLHXQDWXUHO3HVWGHSRLQWV

&HWLQGLFDWHXUSHUPHWGHPHVXUHUVXUXQHpFKHOOHGHjOHQLYHDXGHFRQQDLVVDQFHHWOHVXLYLGHVUHMHWVGLUHFWVSDUWHPSVVHFHWSDUWHPSVGHSOXLHKRUVSOXLHVH[FHSWLRQQHOOHVGHVUpVHDX[GHFROOHFWHGHVHDX[XVpHVDXPLOLHXQDWXUHOUHMHWVGHVGpYHUVRLUVG¶RUDJHWURSSOHLQVGHVSRVWHVGHUHIRXOHPHQWGHVEDVVLQVGHSROOXWLRQ«


%LODQG¶DXWRVXUYHLOODQFH

/HV GRQQpHV G¶DXWRVXUYHLOODQFH GHV SRLQWV GH PHVXUHV VLWXpV VXU OH UpVHDX VRQW WUDQVPLVHVUpJXOLqUHPHQWjO¶$JHQFHGHO¶(DX5KQH0pGLWHUUDQpH&RUVHDLQVLTX¶DXVHUYLFHFKDUJpGHOD3ROLFHGHO¶HDXDXIRUPDW6$1'5(

'HV FRQWUOHV UqJOHPHQWDLUHV GHV GLVSRVLWLIV G¶DXWRVXUYHLOODQFH VRQW UpDOLVpV FKDTXH DQQpH SDU XQEXUHDXGHFRQWUOH/HVUDSSRUWVVRQWGpSRVpVVXU OHSRUWDLO©0HVXUHVGHV5HMHWVªGHO¶$JHQFHGHO¶(DX

/(62895$*(6'¶(385$7,21

/HVFRQWUOHVSpULRGLTXHVG¶DXWRVXUYHLOODQFHDLQVLTXH OHVFRQWUOHV LQRSLQpVGH OD3ROLFHGH O¶(DXSHUPHWWHQW GH GpWHUPLQHU OH WDX[ GH FRQIRUPLWp GHV VWDWLRQV G¶pSXUDWLRQ DX[ DUUrWpV SUpIHFWRUDX[G¶DXWRULVDWLRQGHWUDLWHPHQW

¬FHMRXUQRXVQHGLVSRVRQVSDVGHFHVLQIRUPDWLRQVTXLGRLYHQWQRXVrWUHWUDQVPLVHVXOWpULHXUHPHQWSDUOD''70

,QGLFDWHXUGHSHUIRUPDQFH 7DX[GHFRQIRUPLWp

3FRQIRUPLWpGHVpTXLSHPHQWVG¶pSXUDWLRQ

1'

3FRQIRUPLWpGHODSHUIRUPDQFHGHVRXYUDJHVG¶pSXUDWLRQ

1'

3FRQIRUPLWpGHVSHUIRUPDQFHVGHVpTXLSHPHQWVG¶pSXUDWLRQ

1'

/$*(67,21'(6'(&+(76

/DJHVWLRQGHVERXHV

WRQQHVGHERXHVLVVXHVGHVVWDWLRQVG¶pSXUDWLRQRQWpWppYDFXpHVHQLQGLFDWHXU'

,OV¶DJLWGHVERXHVSURGXLWHVSDUOHVVWDWLRQVG¶pSXUDWLRQHWTXLVRQWpYDFXpHVHQYXHGHOHXUYDORULVDWLRQRXpOLPLQDWLRQ&HW LQGLFDWHXUQHSUHQGSDVHQFRPSWHOHVVRXVSURGXLWV OHVERXHVGHFXUDJHHW OHVPDWLqUHVGHYLGDQJHTXLWUDQVLWHQWSDUODVWDWLRQVDQVrWUHWUDLWpHVSDUOHVILOHVHDXRXERXHGHODVWDWLRQ


GHVERXHVLVVXHVGHVRXYUDJHVG¶pSXUDWLRQVRQWpYDFXpHVVHORQOHVILOLqUHVFRQIRUPHVjODUqJOHPHQWDWLRQLQGLFDWHXU3

/$48$/,7('86(59,&(5(1'8$8;86$*(56

/HVLQGLFDWHXUVGHSHUIRUPDQFH

(QOHWDX[PR\HQGHGHVVHUWHSDUGHVUpVHDX[GHFROOHFWHGHVHDX[XVpHV3HVWGH

/HWDX[GHGHVVHUWHHVWGpILQLFRPPHOHQRPEUHG¶DERQQpVGXVHUYLFHSXEOLFG¶DVVDLQLVVHPHQWFROOHFWLIUDSSRUWpDXQRPEUHSRWHQWLHOG¶DERQQpVGHOD]RQHUHOHYDQWGHO¶DVVDLQLVVHPHQWFROOHFWLILVVXGX]RQDJHG¶DVVDLQLVVHPHQW2QHVWLPHTX¶XQDERQQpHVWGHVVHUYLSDUXQ UpVHDXG¶DVVDLQLVVHPHQWGqV ORUVTX¶XQ UpVHDXH[LVWHGHYDQWO¶LPPHXEOH

/HWDX[GpERUGHPHQWGHVHIIOXHQWVHQGRPDLQHSULYp3HVWGH

&HWLQGLFDWHXUPHVXUHOHQRPEUHGHGHPDQGHVGLQGHPQLVDWLRQVXLWHjXQLQFLGHQWGjOLPSRVVLELOLWpGHUHMHWHUOHVHIIOXHQWVGDQVOHUpVHDXSXEOLFGHFROOHFWHGHVHDX[XVpHVGpERUGHPHQWGDQVODSDUWLHSULYpHUDSSRUWpjKDELWDQWVGHVVHUYLV

(QOHWDX[GHUpFODPDWLRQV 3HVWGHDERQQpV

&HWLQGLFDWHXUFRPSUHQGOHVUpFODPDWLRQVpFULWHVGHWRXWHQDWXUHUHODWLYHDXVHUYLFHGHO¶DVVDLQLVVHPHQWUHoXHVSDUODFROOHFWLYLWpHWOHVRSpUDWHXUVJHVWLRQQDLUHVjO¶H[FHSWLRQGHFHOOHVTXLVRQWUHODWLYHVDXSUL[GHO¶HDX&HFKLIIUHHVWHQKDXVVHSDUUDSSRUWj

/$*(67,21),1$1&,(5(

/(692/80(6)$&785(6

/HVYROXPHVIDFWXUpVHQVRQWGHP

/(7$8;'¶,03$<(6

/HWDX[PR\HQG¶LPSD\pVVXUOHVIDFWXUHVG¶DVVDLQLVVHPHQWGHO¶DQQpH3HVWGH


%8'*(7'86(59,&(

/HVJUDQGVpTXLOLEUHVILQDQFLHUVGXEXGJHWDQQH[H$VVDLQLVVHPHQWGHODGLUHFWLRQGHO¶HDXGHO¶DVVDLQLVVHPHQWHWGXSOXYLDOGXWHUULWRLUHGX3D\VG¶$L[

(WDWGHODGHWWH$VVDLQLVVHPHQWDX

0RQWDQWHQ¼5HFHWWHVUpHOOHV 'pSHQVHVUpHOOHV (SDUJQHEUXWH

&DSLWDOUHVWDQWGDX

'XUpHGH[WLQFWLRQGHODGHWWH3 DQQpHV

5(&(77(6 '(3(16(6

)21&7,211(0(17

,19(67,66(0(17


UHGHYDQFHVN¼


N¼

5HFHWWHVG¶RUGUHN¼


SHUVRQQHOHWIUDLVN¼


N¼

'pSHQVHVG¶RUGUHN¼


N¼


5HFHWWHVG¶RUGUHN¼


N¼


'pSHQVHVG¶RUGUHN¼


/HVJUDQGVpTXLOLEUHVILQDQFLHUVGHVEXGJHWV$VVDLQLVVHPHQWGHV5pJLHVVRQWOHVVXLYDQWV

$1$/<6('8&2037('¶(;3/2,7$7,21'6381,48(0(17

6XLYLGX&$5(

$QQpH (FDUW

DQQpH1

3URGXLWV ¼ ¼

&KDUJHV ¼ ¼

5pVXOWDWDYDQWLPSW ¼ ¼

5(68/7$7 ¼ ¼

9RLUOHGpWDLOSDUFRPPXQHHQDQQH[H

5(&(77(6 '(3(16(6

)21&7,211(0(17

,19(67,66(0(17


UHGHYDQFHVN¼


N¼

5HFHWWHVG¶RUGUHN¼


SHUVRQQHOHWIUDLVN¼


N¼

'pSHQVHVG¶RUGUHN¼


N¼


5HFHWWHVG¶RUGUHN¼


N¼


'pSHQVHVG¶RUGUHN¼


&2175,%87,21$81)21'6'(62/,'$5,7(

'HVFULSWLIGHVFRQWULEXWLRQVGDQVOHFDGUHGXGLVSRVLWLI)6/RXDXWUHV)RQGVGH6ROLGDULWp

(QOHPRQWDQWGHVDEDQGRQVGHFUpDQFHVHWYHUVHPHQWVjXQIRQGVGHVROLGDULWp3HVWGH¼P

/(6(78'(6(775$9$8;

9RLUO¶DQQH[HSRXUOHGpWDLOGHVRSpUDWLRQVSDUFRPPXQH


/(6(59,&(38%/,&'(/¶$66$,1,66(0(17121&2//(&7,)

/(6&+,))5(6&/(6'(/¶$11((

)$,760$548$176

1RXVFRQVWDWRQVSRXUXQHGLPLQXWLRQGHGRVVLHUVGHFRQFHSWLRQOLpVjXQHFRQVWUXFWLRQQHXYHVRLWSDUUDSSRUWj

3DUDLOOHXUVOHQRPEUHGHGRVVLHUVUHODWLIVjODUpKDELOLWDWLRQG¶LQVWDOODWLRQVG¶DVVDLQLVVHPHQWQRQFROOHFWLIDGLPLQXpGHGRVVLHUVHQPRLQV

'(6&5,37,21'86(59,&(

/H63$1&GX7HUULWRLUHGX3D\VG¶$L[H[LVWHGHSXLV/HSDUFGHVLQVWDOODWLRQVG¶DVVDLQLVVHPHQWQRQFROOHFWLIVXUOHWHUULWRLUHGX3D\VG¶$L[HVWFRPSRVpGH

LQVWDOODWLRQVG¶XQHFDSDFLWpLQIpULHXUHj(+(TXLYDOHQWVKDELWDQW LQVWDOODWLRQVG¶XQHFDSDFLWpVXSpULHXUHj(+

/HVPLVVLRQVGX63$1&VRQWOHVVXLYDQWHV &RQWUOHWHFKQLTXHHWUqJOHPHQWDLUHUHODWLIjODFRQFHSWLRQHWjODUpDOLVDWLRQRX

UpKDELOLWDWLRQGHVGLVSRVLWLIVG¶DVVDLQLVVHPHQWQRQFROOHFWLI 'LDJQRVWLFGHERQIRQFWLRQQHPHQWGDQVOHFDGUHG¶XQHYHQWHLPPRELOLqUH &RQWUOHSpULRGLTXHGHERQIRQFWLRQQHPHQWHWG¶HQWUHWLHQIUpTXHQFHDQV &RQVHLODX[XVDJHUV

(QODYDOHXUGHO¶LQGLFHGHPLVHHQ°XYUHGHO¶DVVDLQLVVHPHQWQRQFROOHFWLIHVWGHSRLQWV


FRQWUOHVHIIHFWXpVHQ

7DX[GHFRQIRUPLWpGHVLQVWDOODWLRQV


,QGLFHVGHPLVHHQ°XYUHGHO¶DVVDLQLVVHPHQWQRQFROOHFWLI

1RPEUHGH

SRLQWV

0LVHHQ°XYUH

28, 121

$eOpPHQWVREOLJDWRLUHVSRXUO¶pYDOXDWLRQGHODPLVHHQ°XYUHGXVHUYLFHSXEOLFG¶DVVDLQLVVHPHQWQRQFROOHFWLI

'pOLPLWDWLRQGHV]RQHVG¶DVVDLQLVVHPHQWQRQFROOHFWLISDUXQHGpOLEpUDWLRQ

;

$SSOLFDWLRQG¶XQUqJOHPHQWGXVHUYLFHSXEOLFG¶DVVDLQLVVHPHQWQRQFROOHFWLIDSSURXYpSDUXQHGpOLEpUDWLRQ

;

0LVHHQ°XYUHGHODYpULILFDWLRQGHFRQFHSWLRQHWG¶H[pFXWLRQGHVLQVWDOODWLRQVUpDOLVpHVRXUpKDELOLWpHV

;

0LVHHQ°XYUHGXGLDJQRVWLFGHERQIRQFWLRQQHPHQWHWG¶HQWUHWLHQGHVDXWUHVLQVWDOODWLRQVFDVGHVWUDQVDFWLRQVLPPRELOLqUHV

;

%eOpPHQWVIDFXOWDWLIVGXVHUYLFHSXEOLFG¶DVVDLQLVVHPHQWQRQFROOHFWLI

([LVWHQFHG¶XQVHUYLFHFDSDEOHG¶DVVXUHUjODGHPDQGHGXSURSULpWDLUHO¶HQWUHWLHQGHVLQVWDOODWLRQV

;

([LVWHQFHG¶XQVHUYLFHFDSDEOHG¶DVVXUHUjODGHPDQGHGXSURSULpWDLUHOHVWUDYDX[GHUpDOLVDWLRQHWGHUpKDELOLWDWLRQGHVLQVWDOODWLRQV

;

([LVWHQFHG¶XQVHUYLFHFDSDEOHG¶DVVXUHUOHWUDLWHPHQWGHVPDWLqUHVGHYLGDQJH

;

/¶$&7,9,7('86(59,&(

1RPEUHGHFRQWUOHVHWGLDJQRVWLFVUpDOLVpV

7\SHGHFRQWUOH 'HSXLVODFUpDWLRQ

GXVHUYLFH

([DPHQSUpDODEOHGHFRQFHSWLRQ

9pULILFDWLRQGHO¶H[pFXWLRQ

'LDJQRVWLFGHERQIRQFWLRQQHPHQW

&RQWUOHSpULRGLTXHGHERQIRQFWLRQQHPHQWHWG¶HQWUHWLHQ


(QOHWDX[GHFRQIRUPLWpGHVLQVWDOODWLRQVG¶DVVDLQLVVHPHQWQRQFROOHFWLIHVWGH

&HWLQGLFDWHXUHVWFDOFXOpjFRPSWHUGHVFRQWUOHVUpDOLVpVVXLYDQWODIRUPXOHVXLYDQWH

1RPEUHG¶LQVWDOODWLRQVFRQWUOpHVFRQIRUPHVGHSXLV93$XWUHVLQVWDOODWLRQVFRQWUOpHVGHSXLVQHSUpVHQWDQWSDVGHGDQJHUSRXUODVDQWpGHVSHUVRQQHVQLGHULVTXHDYpUpSRXUO¶HQYLURQQHPHQW931RPEUHWRWDOG¶LQVWDOODWLRQVFRQWUOpHVGHSXLV93

3URJUDPPHGHUpKDELOLWDWLRQGHVLQVWDOODWLRQVGDVVDLQLVVHPHQWQRQFROOHFWLI

/$JHQFHGHO(DX5KQH0pGLWHUUDQpH&RUVHSRXYDLWDSSRUWHUXQHDLGHIRUIDLWDLUHGH¼SRXUODUpKDELOLWDWLRQGHV LQVWDOODWLRQVTXLSUpVHQWDLHQWGHVGDQJHUVSRXU ODVDQWpGHVSHUVRQQHVRXHQFDVGDEVHQFHGLQVWDOODWLRQV

/H63$1&DVVXUDLWODJHVWLRQGHFHSURJUDPPHGHUpKDELOLWDWLRQSRXUOHFRPSWHGHVXVDJHUV

(QXVDJHUVRQWUHoXXQHDLGHGHO$JHQFHUHSUpVHQWDQW¼SRXUXQPRQWDQWWRWDOGHWUDYDX[GH¼

%8'*(7'86(59,&(

/DWDULILFDWLRQ

/HPRQWDQWGHVUHGHYDQFHVDIIHFWpHVjFKDTXHW\SHGHFRQWUOHDpWpIL[pSDUGpOLEpUDWLRQGXFRQVHLOQB&7BGXDSSOLFDEOHGHSXLVOH/HVHUYLFHHVWQRQDVVXMHWWLjOD79$SRXUFHVPLVVLRQVGHFRQWUOH

5pSDUWLWLRQGHVFRQWUOHVHQ

&RQWUOHGHFRQFHSWLRQ &RQWUOHGHERQQHH[pFXWLRQ 'LDJQRVWLF


7\SHGHFRQWUOH 0RQWDQWIRUIDLWDLUH

&RQWUOHGHFRQFHSWLRQGLQVWDOODWLRQVQRXYHOOHV¼

&RQWUOHGHFRQFHSWLRQGLQVWDOODWLRQVjUpKDELOLWHU¼

&RQWUOHGHERQQHH[pFXWLRQGLQVWDOODWLRQVQRXYHOOHV¼

&RQWUOHGHERQQHH[pFXWLRQGLQVWDOODWLRQVjUpKDELOLWHU

¼

'LDJQRVWLFGHERQIRQFWLRQQHPHQWHWGHQWUHWLHQGHVLQVWDOODWLRQVGHFDSDFLWpj(+

¼RX¼VLGLDJQRVWLFUpDOLVpjODGHPDQGHGHO¶XVDJHUYHQWHRXGHPDQGH

G¶XUEDQLVPH

'LDJQRVWLFGHERQIRQFWLRQQHPHQWHWGHQWUHWLHQGHVLQVWDOODWLRQVGHFDSDFLWp!j(+

¼

/HVpTXLOLEUHVILQDQFLHUVGXEXGJHWGX63$1&

7RWDOUHFHWWHVUpHOOHVGHIRQFWLRQQHPHQW¼7RWDOGpSHQVHVUpHOOHVGHIRQFWLRQQHPHQW¼

([FpGHQWDQWpULHXUUHSRUWp¼

/HVUHFHWWHVJpQpUpHVSDUOHVHUYLFHHQVRQWGH¼

7$5,)6'(/¶($8

/(67$5,)6'(/¶($8(7'(/¶$66$,1,66(0(17

$ILQGHSHUPHWWUHGHVXLYUHO¶pYROXWLRQG¶XQHIDFWXUHG¶HDXQRUPDOLVpHODFRQVRPPDWLRQGHUpIpUHQFHGpILQLHSDUO¶,QVWLWXW1DWLRQDOGHOD6WDWLVWLTXHHWGHV(WXGHV(FRQRPLTXHV,16((WHOOHTXHSXEOLpHDX-RXUQDO 2IILFLHO GX QRYHPEUH HVW FHOOH G¶XQ DERQQp GRPHVWLTXH D\DQW XQH UpVLGHQFHSULQFLSDOHHWFRQVRPPDQWDQQXHOOHPHQWPG¶HDX


5pFDSLWXODWLIGHVSUL[GHO¶HDX7DULIVDXHUMDQYLHU


5pFDSLWXODWLIGHVSUL[GHO¶DVVDLQLVVHPHQW7DULIVDXHUMDQYLHU

$&7,216(1)$9(85'8'(9(/233(0(17'85$%/((7'(/$62/,'$5,7(

3DVG¶LQGLFDWHXUVLJQLILFDWLIVSRXU


$11(;( ),&+(6$56 ±48$/,7('(6($8;

(GLWLRQGXPDUV

8*($(35(*,('(6($8;'83$<6'$,;

7DX[ GH FRQIRUPLWp GHV SUpOqYHPHQWV VXU OHV HDX[ GLVWULEXpHV UpDOLVpV DX WLWUH GXFRQWUOH VDQLWDLUH SDU UDSSRUW DX[ OLPLWHV GH TXDOLWp SRXU FH TXL FRQFHUQH ODPLFURELRORJLHHWOHVSDUDPqWUHVSK\VLFRFKLPLTXHV33

,QVWDOODWLRQ 3DUDPqWUHVPLFURELRORJLTXHV 3DUDPqWUHVSK\VLFRFKLPLTXHV

&RGH /LEHOOp 7\SH3RS'pELW

1RPEUHWRWDOGHSUpOqYHPHQWV

1RPEUHGHSUpOqYHPHQWV

QRQFRQIRUPHV

1RPEUHWRWDOGH

SUpOqYHPHQWV


QRQFRQIRUPHV

/(%$//21 773

9(1(//(6 773

,QGLFHGDYDQFHPHQWGHODSURWHFWLRQGHODUHVVRXUFHHQHDX3

&RGHQDWLRQDO

1RPGXFDSWDJH (WDW 'pELW3pULPSURWHFW&RGH

(WDWSURF&RGH

'pOLE'DWH$YLV

JpRORJXH'DWH

5HFHY'DWH

'83'DWH

,QGLFH

/$&$0%5(77( $&7 1 (&

9(1(//(6 $&7 1 (&

6$,17(87523( $&7 1 (&

38<'852, $&7 1 (&

)217&289(57( $&7 1 (&

9$//21'(/(6&$/( $&7 1 7(

35,6(6&3 $&7 2 7(

)2175(<1$8'( $&7 1 7(

0(5,1'2/( $&7 1 (&

&287(521 $&7 1 (&

*$5(7*9 $&7 1 (&

6$,179$/(17,1 $&7 2 7(

3$5&'(6632576 $&7 1 (&

2%-(7&LUFXODLUHQ'(GXDYULO0LVHHQ RHXYUH GX UDSSRUW VXU OH SUL[ HW OD TXDOLWp GHVVHUYLFHV SXEOLFV GHDX HW GDVVDLQLVVHPHQW HQDSSOLFDWLRQGXGpFUHWQGXPDL

'HVW$033$<6'$,;

$GU&6

$,;(13&(&('(;

(GLWLRQGXPDUV

6$,17(87523( 773

38<'852, 773

)217&289(57( 773

6$,17(67(9(-$1621 773

3/$7($8'(/$.(<5,( 773

6$,173$8/ 773

0(5,1'2/( 773

&287(521 773

*$5(7*9 773

3$5&'(6632576 773

*$5'$11(28(67 8',

*$5'$11((67 8',

6$,17(67(9(-$1621 8',

6$,173$8//(='85$1&( 8',

9(1(//(6 8',

6$,170$5&-$80(*$5'( 8',

$,;(13529(1&(125' 8',

$,;(13529(1&(68' 8',

$,;(13529(1&(&(175( 8',

$,;0(5,1'2/( 8',

$,;&287(521 8',

*$5(7*9 8',

6$,173$8//(='85$1&(=21(,1'8675,(//(8',

3$5&'(6632576 8',

7RWDO

7DX[GHFRQIRUPLWp

3RSXODWLRQSRXUOHV8',RX'pELWHQPMSRXUOHV&$30&$773

(GLWLRQGXPDUV

8*($(36,'8%$66,10,1,(5B$03&7






QRQFRQIRUPHV

1RPEUHWRWDOGH

SUpOqYHPHQWV


QRQFRQIRUPHV

/(602/; 773

/289,(5( 773

6,0,$1(&2//21*8(9,//( 8',

6,'8%$66,10,1,(528(67B&7 8',

7RWDO

7DX[GHFRQIRUPLWp



&RGHQDWLRQDO


(WDWSURF&RGH

'pOLE'DWH$YLV

JpRORJXH'DWH

5HFHY'DWH

'83'DWH

,QGLFH

/(602/; $&7 1 (&

/289,(5( $&7 1 (&


'HVW$033$<6'$,;

$GU&6

$,;(13&(&('(;

(GLWLRQGXPDUV

8*($(3$033$<6'$,;$))6(0


&RGHQDWLRQDO


(WDWSURF&RGH

'pOLE'DWH$YLV

JpRORJXH'DWH

5HFHY'DWH

'83'DWH

,QGLFH

7(55(%/$1&+( $&7 1 (&

9(17$%5(135,6('($8(1&$1$/

$&7 1 (&

&28'28;/$)$5( $&7 1 (&

&+$7($81(8)/(528*( $&7 1 (&

/$)28; $&7 1 (&

%(572,5( $&7 1 (&

%(572,5(6&3 $&7 1 (&

/(/,21'250(<5$5*8(6

$&7 1 7(

&+()/,(8 $&7 1 (&

/(60,&+(/6 $&7 1 (&

38</28%,(56&3 $&7 1 (&

&+(1(5,//(6 $&7 1 (&

/$&5,'( $&7 1 (&

6$,17&$1$'(76&3 $&7 1 (&

/(6'85$1'6 $&7 1 (&

/(6$51$-216 $&7 1 (&

/(67$,//$'(6 $&7 1 (&

/$%25'( $&7 2 7(

/(&$67(//$6 $&7 2 7(

52866(7 $&7 1 (&

6&3%($85(&8(,/67$ $&7 1 (&

/(&+$7($86285&('8/$92,5

$&7 2 7(

6&3%($85(&8(,/ $&7 1 (&


'HVW$033$<6'$,;

$GU&6

$,;(13&(&('(;

(GLWLRQGXPDUV






QRQFRQIRUPHV

1RPEUHWRWDOGH

SUpOqYHPHQWV


QRQFRQIRUPHV

7(55(%/$1&+( 773

67$7,21'(9(17$%5(1 773

67$7,21&28'28;/$)$5( 773

&+$7($81(8)/(528*( 773

/$)28; 773

%(572,5( 773

/(/,21'250(<5$5*8(6 773

/(60,&+(/6 773

&+()/,(8 773

&,1421&(6 773

38</28%,(5 773

/(67$,//$'(6 773

/$&5,'( 773

/(6$51$-216 773

/(6'85$1'6 773

67.67&$1$'(7 773

/$%25'( 773

/(&$67(//$6 773

52866(7 773

6$,17$1721,1685%$<21 773

9$89(1$5*8(6 773

%($85(&8(,/ 773

&$%5,(6 773

&$%5,(6 $&7 1 (&

&$/$6 $&7 1 (&

/(6%/$48(6 $&7 1 (&

35,6(6&3 $&7 2 7(

/$&$6&$'( $&7 2 7(

/(67$,//216=$/21, $&7 2 7(

0$5,(0$8521 $&7 1 (&

(175e(67$7,21/(%$5&27

$&7 1 (&

3$5&&/8%$5%2,6 $&7 1 (&

&$%5('25 $&7 (&

=$&67&+$5/(6 $&7 (&

&+$7($8/$&267( $&7 1 (&

(GLWLRQGXPDUV

&$/$6 773

/(6%/$48(6 773

0$5,(0$8521 773

&+(1(5,//(6 773

/$&$6&$'( 773

67$7,21'8%$5&27 773

3$5&&/8%$5%2,6 773

&$%5('25 773

67$7,2175$,7(0(17=$&67&+$5/(6773

&+$7($8/$&267( 773

9,752//(6 8',

/(63(11(60,5$%($89,//( 8',

%28&%(/$,59,//( 8',

5(6($89(17$%5(1 8',

5(6($8&28'28; 8',

&+$7($81(8)/(528*( 8',

)89($8 8',

/$0%(6& 8',

0(<5$5*8(6 8',

3(<1,(5/(60,&+(/6 8',

3(<1,(5&+()/,(8 8',

3(<52//(6 8',

38</28%,(5 8',

38<67(5(3$5$'(9,//( 8',

38<67(5(3$5$'(/(6$51$-216 8',

38<67(5(3$5$'(/(6'85$1'6 8',

38<67(5(3$5$'(6$,17&$1$'(7 8',

/$5248('$17+(521 8',

52866(7 8',

6$,17$1721,1685%$<21 8',

9$89(1$5*8(6 8',

%($85(&8(,/ 8',

&$%5,(6 8',

&$/$6 8',

75(76 8',

&$%5,(60$5,(0$8521 8',

/$5248('$17+(521%$5&27 8',

&$%5,(6/27,66(0(17/(69(5*(56 8',

&$%5,(63$5&&/8%'(/$5%2,6 8',

=,'(52866(7 8',

&$%5('25*2/)5(6,'(1&( 8',

=$&67&+$5/(6+$0($8&+$7($8$5&8',

3(11(60,5$%($8&$'(1($8; 8',

&+$7($8/$&267( 8',

7RWDO

7DX[GHFRQIRUPLWp


(GLWLRQGXPDUV

8*($(3$033$<6'$,;$))6$85






QRQFRQIRUPHV

1RPEUHWRWDOGH

SUpOqYHPHQWV


QRQFRQIRUPHV

(*8,//(6 773

%$//21 773

(*8,//(6 8',

0(<5(8,/ 8',

7RWDO

7DX[GHFRQIRUPLWp



&RGHQDWLRQDO


(WDWSURF&RGH

'pOLE'DWH$YLV

JpRORJXH'DWH

5HFHY'DWH

'83'DWH

,QGLFH

(*8,//(6 $&7 1 (&

%$//21 $&7 1 (&


'HVW$033$<6'$,;

$GU&6

$,;(13&(&('(;


$11(;(7$%/($8;5(&$3,78/$7,)6'(6,1',&$7(856'(3(5)250$1&(

3285/¶($83$5&20081(6

$11(;( &RPPXQHVHQ'63

,QGLFDWHXUVGHSHUIRUPDQFHGXVHUYLFHSXEOLFGHOHDXSRWDEOH

8QLWp%HDXUHFXHLO

%RXF%HO$LU

&DEULqV&KkWHDXQHXIOH5RXJH

&RXGRX[ (JXLOOHV )XYHDX

,1',&$7(8565(/$7,)6$8;7$5,)6

'3UL[77&GXVHUYLFHDXPSRXUPIDFWXUH,16(( ¼

930RQWDQWGHODIDFWXUHPñUHYHQDQWDXGpOpJDWDLUH ¼

930RQWDQWGHODIDFWXUHPñUHYHQDQWjODFROOHFWLYLWp ¼

930RQWDQWWRWDOGHVWD[HVHWUHGHYDQFHVDIIpUHQWHVDXVHUYLFHGDQVODIDFWXUHPñ

¼

930RQWDQWGHODSDUWIL[HUHYHQDQWDXGpOpJDWDLUH ¼

930RQWDQWGHODSDUWIL[HUHYHQDQWjODFROOHFWLYLWp ¼

937DX[GH79$DSSOLFDEOHVXUOHQVHPEOHGHODIDFWXUH

939RLHV1DYLJDEOHVGH)UDQFH91)SUpOqYHPHQWV ¼

93$JHQFHVGHOHDXSURWHFWLRQGHODUHVVRXUFH ¼

93$JHQFHVGHOHDXUHGHYDQFHSROOXWLRQ ¼

93$XWUHVWD[HVHWUHGHYDQFHVDSSOLFDEOHVVXUOHWDULIKRUV79$ ¼

,1',&$7(8565(/$7,)6$/$48$/,7('(/($8

931RPEUHGHSUpOqYHPHQWVVXUODPLFURELRORJLH X

931RPEUHGHSUpOqYHPHQWVQRQFRQIRUPHVVXUODPLFURELRORJLH X

37DX[GHFRQIRUPLWpGHVSUpOqYHPHQWVVXUOHVHDX[GLVWULEXpHVUpDOLVpVDXWLWUHGXFRQWUOHVDQLWDLUHSDUUDSSRUWDX[OLPLWHVGHTXDOLWpSRXUFHTXLFRQFHUQHODPLFURELRORJLH

931RPEUHGHSUpOqYHPHQWVVXUOHVSDUDPqWUHVSK\VLFRFKLPLTXHV X

931RPEUHGHSUpOqYHPHQWVQRQFRQIRUPHVVXUOHVSDUDPqWUHVSK\VLFRFKLPLTXHV

X

37DX[GHFRQIRUPLWpGHVSUpOqYHPHQWVVXUOHVHDX[GLVWULEXpHVUpDOLVpVDXWLWUHGXFRQWUOHVDQLWDLUHSDUUDSSRUWDX[OLPLWHVGHTXDOLWpSRXUFHTXLFRQFHUQHOHVSDUDPqWUHVSK\VLFRFKLPLTXHV

939ROXPHSUpOHYp P 15 15 15 15 15

939ROXPHSURGXLW P

939ROXPHLPSRUWpDFKDWVGHDXjGDXWUHVVHUYLFHV P

3,QGLFHG¶DYDQFHPHQWGHODSURWHFWLRQGHODUHVVRXUFHHQHDX 15

,1',&$7(856'(3(5)250$1&('85(6($8'(',675,%87,21

939ROXPHH[SRUWp YHQWHVGHDXjGDXWUHVVHUYLFHV P

939ROXPHFRPSWDELOLVpGRPHVWLTXH P

939ROXPHFRPSWDELOLVpQRQGRPHVWLTXH P

939ROXPHFRQVRPPpFRPSWDELOLVp P

939ROXPHFRQVRPPpVDQVFRPSWDJH P

939ROXPHGHVHUYLFHGXUpVHDX P

93/LQpDLUHGHUpVHDXKRUVEUDQFKHPHQWV NP

35HQGHPHQWGXUpVHDXGHGLVWULEXWLRQ

3,QGLFHOLQpDLUHGHVYROXPHVQRQFRPSWpV PNPM

3,QGLFHOLQpDLUHGHSHUWHVHQUpVHDX PNPM

93/LQpDLUHGHUpVHDX[UHQRXYHOpVDXFRXUVGHVGHUQLqUHVDQQpHV NP

37DX[PR\HQGHUHQRXYHOOHPHQWGHVUpVHDX[G¶HDXSRWDEOH

3%,QGLFHGHFRQQDLVVDQFHHWGHJHVWLRQSDWULPRQLDOHGHVUpVHDX[G¶HDXSRWDEOH

,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$48$/,7('(6(59,&($/¶86$*(5

931RPEUHG¶DERQQpV X

'1RPEUHGKDELWDQWVGHVVHUYLV X

931RPEUHGLQWHUUXSWLRQVGHVHUYLFHQRQSURJUDPPpHV X

37DX[GRFFXUUHQFHGHVLQWHUUXSWLRQVGHVHUYLFHQRQSURJUDPPpHV XDE

''pODLPD[LPDOGRXYHUWXUHGHVEUDQFKHPHQWVSRXUOHVQRXYHDX[DERQQpV

M

37DX[GHUHVSHFWGHGpODLPD[LPDOGRXYHUWXUHGHVEUDQFKHPHQWVSRXUOHVQRXYHDX[DERQQpV

93931RPEUHGHUpFODPDWLRQVpFULWHV X

37DX[GHUpFODPDWLRQV XDE

,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$*(67,21),1$1&,(5(

936RPPHGHVDEDQGRQVGHFUpDQFHVHWYHUVHPHQWVjXQIRQGVGHVROLGDULWp)6/GXGpSDUWHPHQWHWIRQGVGDLGHVSpFLILTXHDXWHUULWRLUHVLH[LVWDQW79$H[FOXH

¼

9ROXPHIDFWXUp P

30RQWDQWVGHVDFWLRQVGHVROLGDULWp ¼P

3'XUpHG¶H[WLQFWLRQGHODGHWWHGHODFROOHFWLYLWp DQQpHV

9ROXPHIDFWXUp P

37DX[GLPSD\pVVXUOHVIDFWXUHVGHDXGHODQQpH

15QRQUHQVHLJQp

$11(;(


8QLWp

,1',&$7(8565(/$7,)6$8;7$5,)6





¼








,1',&$7(8565(/$7,)6$/$48$/,7('(/($8






X


939ROXPHSUpOHYp P

939ROXPHSURGXLW P


3,QGLFHG¶DYDQFHPHQWGHODSURWHFWLRQGHODUHVVRXUFHHQHDX

,1',&$7(856'(3(5)250$1&('85(6($8'(',675,%87,21














,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$48$/,7('(6(59,&($/¶86$*(5






M




,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$*(67,21),1$1&,(5(


¼

9ROXPHIDFWXUp P



9ROXPHIDFWXUp P


15QRQUHQVHLJQp

&RPPXQHVHQ'63

-RXTXHV

/D5RTXHG$QWKpU

RQ

/DPEHVF

/H3X\6DLQWH5pSDUDG

H

/H7KRORQHW

/HV3HQQHV0LUDEHDX

0H\UDUJXHV

15 15 15 15 15

15

15

$11(;(


8QLWp

,1',&$7(8565(/$7,)6$8;7$5,)6





¼








,1',&$7(8565(/$7,)6$/$48$/,7('(/($8






X


939ROXPHSUpOHYp P

939ROXPHSURGXLW P



,1',&$7(856'(3(5)250$1&('85(6($8'(',675,%87,21














,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$48$/,7('(6(59,&($/¶86$*(5






M




,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$*(67,21),1$1&,(5(


¼

9ROXPHIDFWXUp P



9ROXPHIDFWXUp P


15QRQUHQVHLJQp

&RPPXQHVHQ'63

0H\UHXLO 3H\QLHU 3H\UROOHV3X\ORXEL

HU5RJQHV 5RXVVHW

6DLQW$QWRQLQ

15 15 15 15

15

15

15

$11(;(


8QLWp

,1',&$7(8565(/$7,)6$8;7$5,)6





¼








,1',&$7(8565(/$7,)6$/$48$/,7('(/($8






X


939ROXPHSUpOHYp P

939ROXPHSURGXLW P



,1',&$7(856'(3(5)250$1&('85(6($8'(',675,%87,21














,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$48$/,7('(6(59,&($/¶86$*(5






M




,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$*(67,21),1$1&,(5(


¼

9ROXPHIDFWXUp P



9ROXPHIDFWXUp P


15QRQUHQVHLJQp

&RPPXQHVHQ'63

6DLQW&DQQDW

7UHWV9DXYHQDUJXHV

9HQWDEUHQ

9LWUROOHV$L[HQ

3URYHQFH*DUGDQQ

H

15 15 15 15 15 15 15

15

15

15 15

5(3$

$11(;(


8QLWp

,1',&$7(8565(/$7,)6$8;7$5,)6





¼








,1',&$7(8565(/$7,)6$/$48$/,7('(/($8






X


939ROXPHSUpOHYp P

939ROXPHSURGXLW P



,1',&$7(856'(3(5)250$1&('85(6($8'(',675,%87,21














,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$48$/,7('(6(59,&($/¶86$*(5






M




,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$*(67,21),1$1&,(5(


¼

9ROXPHIDFWXUp P



9ROXPHIDFWXUp P


15QRQUHQVHLJQp

5(3$

9HQHOOHV6DLQW

3DXO/H]'XUDQFH

6DLQW0DUFGH-DXPHJD

UGH

6DLQW(VWqYH

6,%$0+,6725,48(

6,0,$1(&2//21*8(

7HUULWRLUHGX3D\VG$L[

15 15 15 15

15 15 15 15

15 15

15 15

15 15 15 15

6,%$0


$11(;( 7$%/($83$75,02,1(($8

$11(;(3$75,02,1(($8'(6'635(3$5($%0*

&RPPXQHV 2ULJLQHGHODUHVVRXUFH /LYUDLVRQ 7UDLWHPHQW 6WRFNDJHPñ

$L[HQ3URYHQFH 9HUGRQ 6RFLpWpGX&DQDOGH3URYHQFHVWDWLRQVGHSRWDELOLVDWLRQ6DLQW(XWURSH/V

)RQWFRXYHUWH/V3X\GX5R\/V&RXWKHURQ/D0pULQGROHHWO$UERLV

6W(XWURSH)RQFRXYHUWH3X\GX5R\%DVVLQ

QRUG&RXSHDX&RXWKHURQ$EHLOOH+LUVW*G6W-HDQ

%HDXUHFXHLO 9HUGRQVRXUFH 6RFLpWpGX&DQDOGH3URYHQFHVRXUFHGX%D\RQ6WDWLRQGHILOWUDWLRQGHV5RXEDXGVVWDWLRQGHWUDLWHPHQWGH

ODVRXUFHGX%D\RQUpVHUYRLUGX9LOODJH

%RXF%HO$LU 9HUGRQ'XUDQFH 6RFLpWpGX&DQDOGH3URYHQFH&DQDOGH0DUVHLOOH 6WDWLRQGHILOWUDWLRQGHVWHUUHV%ODQFKHV/V7HUUHV%ODQFKHV7HUUHV%ODQFKHVELV

3LQ

&DEULHV 9HUGRQ'XUDQFH 6RFLpWpGX&DQDOGH3URYHQFH&DQDOGH0DUVHLOOH6WDWLRQGHILOWUDWLRQ/HV%ROOHVPñK7UpELOODQH

PñK&ROOqJH0DULH0DXURQPñKO$UERLVPñK&kEUHG2U*ROIPñK

%ROOHV&DODV9HUJHU/DERULH

&KDWHDXQHXIOHURXJH 9HUGRQ 6RFLpWpGX&DQDOGH3URYHQFH 6WDWLRQGHILOWUDWLRQGHOD&DUGHOLQH 5pVHUYRLUVGX9LOODJH&DUGHOLQH

&RXGRX[ 'XUDQFH &DQDOGH0DUVHLOOH6WDWLRQGHILOWUDWLRQ/VSRXU&RXGRX[/VSRXU

)DUHOHV2OLYLHUV%DVWLGH1HXYHUpVHUYRLUKDXW

(JXLOOHV 9HUGRQ 6RFLpWpGX&DQDOGH3URYHQFH 6WDWLRQGHILOWUDWLRQGHV/RJLVVRQVPñK %HOOHYXH/RJLVVRQV

)XYHDX 9HUGRQ 6RFLpWpGX&DQDOGH3URYHQFH6WDWLRQGHWUDLWHPHQWGHOD)RX[/VVWDWLRQGHILOWUDWLRQ

GHOD=$&6W&KDUOHV/V)RX[*DOqUH*RXVWR6RXOHW

%HOOHYXH/D%DUTXH=$&

*DUGDQQH 9HUGRQ'XUDQFH 6RFLpWpGX&DQDOGH3URYHQFH&DQDOGH0DUVHLOOH %DOORQV/V*LUDXGHWVGURLW/VFDSDFLWp/V5LEDV0DOHVSLQH%LYHU

3ODLQH

*UpDVTXH 9HUGRQ 6RFLpWpGX&DQDOGH3URYHQFH 6WDWLRQGHO2XYLqUHVLWXpHj)XYHDX

-RXTXHV (DXVRXWHUUDLQH &DSWDJH 7UDFRQQDGHPñM %qGHV&DPSRXPDO

/DPEHVF 9HUGRQHDXVRXWHUUDLQH 6RFLpWpGX&DQDOGH3URYHQFH&DSWDJHGH%HUWRLUH 6WDWLRQGHILOWUDWLRQGH%HUWRLUH/V %HUWRLUH

$11(;(3$75,02,1(($8'(6'635(3$5($%0*


0H\UDUJXHV 9HUGRQHDXVRXWHUUDLQH6RFLpWpGX&DQDOGH3URYHQFHVHFRXUV&DSWDJHGHOD

6RXUFHGX/LRQG2U3RVWHGHVWpULOLVDWLRQ /HV$UFV

0H\UHXLO 9HUGRQ 6RFLpWpGX&DQDOGH3URYHQFH 6WDWLRQGHILOWUDWLRQGX%DOORQ 5pVHUYRLUGX%DOORQUpVHUYRLUGH0RQWDLJXHW

0LPHW 9HUGRQ 6RFLpWpGX&DQDOGH3URYHQFH 6WDWLRQGHO2XYLqUHVLWXpHj)XYHDX

3HQQHV0LUDEHDX 'XUDQFH&RPPXQHSDUWDJpHHQVHFWLRQVDXQRUGUpVHDXDOLPHQWpSDUOXVLQHGHV*LUDXGHWV6$(320DXVXG

UpVHDXDOLPHQWpSDU030$XFXQH

9LOODJH%DUQRXLQV5RXLW/D7UHVTXH

3HUWXLV'XUDQFHHDXVRXWHUUDLQH

&DSWDJHHQ'XUDQFH&DSWDJHGX9LGDOHW

3H\QLHU 9HUGRQ 6RFLpWpGX&DQDOGH3URYHQFH6WDWLRQGHILOWUDWLRQ©9LOODJHª6WDWLRQGHILOWUDWLRQ©/HV

0LFKHOVªFDSDFLWp/V±GRWDWLRQ/V6WH&URL[/D%ODTXH

/HV0LFKHOV

3H\UROOHV (DXVRXWHUUDLQH &DSWDJH&LQT2QFHV 3RVWHGHVWpULOLVDWLRQ 6WH$QQH

3X\6WH5pSDUDGH 9HUGRQHDXVRXWHUUDLQH 6RFLpWpGX&DQDOGH3URYHQFH&DSWDJHGHV&KpQHULOOHV

6WDWLRQGHILOWUDWLRQGH6W&DQDGHWPñK6WDWLRQGHILOWUDWLRQGHV7DLOODGHVPñKVWDWLRQGHILOWUDWLRQGHV6DYR\DQWVVWDWLRQGHILOWUDWLRQGHV$UQDMRQVVWDWLRQGH

ILOWUDWLRQGHOD&ULGH

7DLOODGHV&ULGH'DQMDXGV6W&DQDGHW

3X\ORXELHU 9HUGRQHDXVRXWHUUDLQH6RFLpWpGX&DQDOGH3URYHQFHFDSWDJHV6W6HUHW

0DUTXHW6WDWLRQGHWUDLWHPHQW/V 0DUTXHWV9LOODJH

5RJQHV (DXVRXWHUUDLQH9HUGRQ&DSWDJH6DLQW'HQLV6RFLpWp&DQDOGX3URYHQFH

VHFRXUV6WDWLRQGHWUDLWHPHQWGXFHQWUHYLOOHVWDWLRQGHILOWUDWLRQGHV

*DUULJXHV)RXVVD)RQWDQLOOH

5RTXHG$QWKpURQ(DXVRXWHUUDLQH

'XUDQFH&DSWDJHGHOD%RUGHFDSWDJHGX9DOORQ&DQDOGH

0DUVHLOOH6WDWLRQGHILOWUDWLRQGX%DUFRWVWDWLRQGHILOWUDWLRQGHOD

3RVWH/V/D3RVWH*XpULGDQH

&DVWHOODV

5RXVVHW 9HUGRQHDXVRXWHUUDLQH 6RFLpWpGX&DQDOGH3URYHQFHFDSWDJHGX%RXDRX6WDWLRQGHILOWUDWLRQGX%RXDRXGRWDWLRQ/VBFDSDFLWp

/V%RXDRX6DIUH

6DXYHW

$11(;(3$75,02,1(($8'(6'635(3$5($%0*


6LPLDQH&ROORQJXH 9HUGRQ 6RFLpWpGX&DQDOGH3URYHQFH 6WDWLRQGHILOWUDWLRQGHV0RO[/V 0RO[(QFRXYHQ6WH0DGHOHLQH

6W$QWRQLQ%D\RQ 9HUGRQ 6RFLpWpGX&DQDOGH3URYHQFH 6WDWLRQGHWUDLWHPHQWVLWXpHj%HDXUHFXHLO/V 6W$QWRQLQ%RXTXHW0DXUHOO\

6W&DQQDW 9HUGRQ 6RFLpWpGX&DQDOGH3URYHQFH6WDWLRQGHILOWUDWLRQGX&ORVGX5R\6WDWLRQGHILOWUDWLRQGH

/D3LOH/V3X\&ORVGX5R\

6W(VWqYH-DQVRQ (DXVRXWHUUDLQH &DSWDJHV VWDWLRQVGHSRWDELOLVDWLRQ

6W0DUF-DXPHJDUGH 9HUGRQ 6RFLpWpGX&DQDOGH3URYHQFH 6WDWLRQGHWUDLWHPHQWSDUFKORUDWLRQ

6W3DXOOHV'XUDQFH 6RXUFH &DSWDJHGH)RQW5H\QDXGH 5pVHDXGHDXSRWDEOHGX&($GH&DGDUDFKH %DVVHUYLFH+DXWVHUYLFH

7KRORQHW 9HUGRQ 6RFLpWpGX&DQDOGH3URYHQFH 5pVHDXGHDXSRWDEOHG$L[HQ3URYHQFH

7UHWV 9HUGRQ 6RFLpWpGX&DQDOGH3URYHQFH 6WDWLRQGHILOWUDWLRQGHOD%ODTXH6WH0DULH6W-HDQ%HQQHWV

.LUERQ

9DXYHQDUJXHV 9HUGRQVRXUFH VRFLpWpGX&DQDOGH3URYHQFH&DSWDJHGX*UDQG%DRX $GUHWV9LOODJH+DXW

9HQHOOHV 9HUGRQ 6RFLpWpGX&DQDOGH3URYHQFH 6WDWLRQGHILOWUDWLRQGHV3ODLQHVPñK 9HQHOOHV9HQHOOHVOH+DXW

9HQWDEUHQ 'XUDQFH &DQDOGH0DUVHLOOH 6WDWLRQGHWUDLWHPHQWGHV&DXYHWV &DXYHWV0RXOLQ3ODWHDX

9LWUROOHV 'XUDQFH &DQDOGH0DUVHLOOH$OLPHQWDWLRQHQHDXSRWDEOHSDUOH6$(320XVLQHGHV

*LUDXGHWVXVLQHGHV%DUMDTXHWVHQVHFRXUV

0RQWYDOORQSRPSDJHEDVSRPSDJHKDXW3ODWHDX

:DEDFRO*GH*DUULJXHV

$11(;(3$75,02,1(($85(*,('83$<6'¶$,;

7UDLWHPHQW

6WRFNDJH

$11(;(3$75,02,1(($85(*,('8%$66,10,1,(5(7'8*$5/$%$1

7UDLWHPHQW

6WRFNDJH


$11(;( &2037(6'¶(;3/2,7$7,21'(7$,//(63285/¶($8&$5(&$

ŶŶĞǆĞϰW%HDXUHFXHLO %RXF%HO$LU &DEULqV

&KkWHDXQHXIOH5RXJH

&RXGRX[ (JXLOOHV )XYHDX -RXTXHV/D5RTXHG$QWKpURQ

/DPEHVF/H3X\6DLQWH

5pSDUDGH/H7KRORQHW

/HV3HQQHV0LUDEHDX

0H\UDUJXHV

ZϮϬϭϴWƌŽĚƵŝƚƐ ϳϱϴϮϲ ϭϭϰϴϱϵϬ ϭϮϳϵϳϰϱ ϰϯϳϵϲϬ ϰϴϴϳϰϬ ϭϰϵϰϰϬϬ ϭϮϭϲϴϵϲ ϯϰϭϲϭϬ ϲϯϬϯϲϵ ϴϯϭϮϭϵ ϰϭϳϵϴϱ Ϯϴϭϱϰϰ ϯϳϭϴϰϭϲ ϮϰϵϴϲϬ

ŚĂƌŐĞƐ ϭϬϱϰϮϭ ϭϯϳϲϵϬϴ ϭϯϲϬϰϵϲ ϰϳϱϮϵϳ ϱϱϭϬϱϭ ϭϯϵϰϮϬϬ ϭϯϲϮϵϲϵ ϯϳϱϱϴϬ ϳϬϴϮϯϴ ϭϬϭϬϳϮϰ ϱϳϬϴϰϯ ϯϲϵϵϳϭ ϯϴϳϵϳϲϴ ϯϬϯϬϵϮ

ZĠƐƵůƚĂƚĂǀĂŶƚŝŵƉŽƚ ͲϮϵϱϵϰ ͲϮϮϴϯϭϴ ͲϴϬϳϱϭ Ͳϯϳϯϯϲ ͲϲϮϯϭϭ ϭϬϬϮϬϬ ͲϭϰϲϬϳϮ ͲϯϯϵϲϬ Ͳϳϳϴϲϵ ͲϭϳϵϱϬϱ ͲϭϱϮϴϱϴ ͲϴϴϰϮϳ ͲϭϲϭϯϱϮ ͲϱϯϮϯϮ

ZĠƐƵůƚĂƚŶĞƚ ͲϮϵϱϵϰ ͲϮϮϴϯϭϴ ͲϴϬϳϱϭ Ͳϯϳϯϯϲ ͲϲϮϯϭϭ ϲϱϵϬϬ ͲϭϰϲϬϳϮ ͲϯϯϵϲϬ Ͳϳϳϴϲϵ ͲϭϳϵϱϬϱ ͲϭϱϮϴϱϴ ͲϴϴϰϮϳ ͲϭϲϭϯϱϮ ͲϱϯϮϯϮ

ŶŶĞǆĞϰW

ZϮϬϭϴWƌŽĚƵŝƚƐ

ŚĂƌŐĞƐ

ZĠƐƵůƚĂƚĂǀĂŶƚŝŵƉŽƚ

ZĠƐƵůƚĂƚŶĞƚ

0H\UHXLO 3H\QLHU 3H\UROOHV 3X\ORXELHU 5RJQHV 5RXVVHW6DLQW

$QWRQLQ6DLQW&DQQDW

7UHWV9DXYHQDUJX

HV9HQWDEUHQ 9LWUROOHV 727$/

ϲϭϴϰϬϬ ϰϲϰϮϴϭ ϯϳϳϯϴϮ ϮϮϴϬϵϴ ϮϬϴϱϴϬ ϳϬϯϭϭϮ ϲϵϯϯϱ ϰϲϱϳϬϬ ϭϭϭϱϲϵϰ ϭϲϳϮϵϲ ϴϱϯϰϲϲ ϱϭϴϰϬϰϲ ϰϯϯϴϬϬϴϯ

ϲϳϲϭϬϬ ϱϳϳϵϲϴ ϰϱϰϭϵϭ Ϯϳϲϯϴϴ ϯϬϳϱϵϬ ϴϯϮϱϰϴ ϴϰϬϲϭ ϱϰϲϴϱϬ ϭϮϵϬϴϰϲ ϮϭϯϬϵϱ ϵϳϵϯϰϰ ϱϲϵϵϰϴϰ ϮϱϳϴϯϬϮϯ

ͲϱϳϴϬϬ ͲϳϲϴϬϵ ͲϳϲϴϬϵ ͲϱϭϮϵϬ ͲϵϵϬϭϬ ͲϭϮϵϰϯϲ ͲϭϰϳϮϲ ͲϴϭϭϱϬ ͲϭϳϱϭϱϮ Ͳϰϱϳϵϵ ͲϭϮϱϴϳϴ Ͳϱϭϱϰϯϴ ͲϮϲϴϬϲϴϮ

ͲϱϳϴϬϬ ͲϳϲϴϬϵ ͲϳϲϴϬϵ ͲϱϭϮϵϬ ͲϵϵϬϭϬ ͲϭϮϵϰϯϲ ͲϭϰϳϮϲ ͲϴϭϭϱϬ ͲϭϳϱϭϱϮ Ͳϰϱϳϵϵ ͲϭϮϱϴϳϴ Ͳϱϭϱϰϯϴ ͲϮϳϭϰϵϴϮ


$11(;( /,67('(6(78'(6(775$9$8;5($/,6(6(1

EEyϱ

ŽŵŵƵŶĞ EĂƚƵƌĞĚĞƐŽƉĠƌĂƚŝŽŶƐĞĂƵƉŽƚĂďůĞ DŽŶƚĂŶƚ,d

ŝǆĞŶWƌŽǀĞŶĐĞ ŚĂƵĚŽŶϮϯϬŵůEϭϱϬ E

ŝǆĞŶWƌŽǀĞŶĐĞ dƌĂǀĞƌƐĞ^ƚWŝĞƌƌĞϯϯϵŵůEϭϬϬ E

ŝǆĞŶWƌŽǀĞŶĐĞ ŽƵƌƐƌĞŵŽŶĚϭϭϬŵůEϭϬϬ E

ŝǆĞŶWƌŽǀĞŶĐĞ ĠƉŽƌƚĠƐϰϰϱŵůEϯϬϬ E

ŝǆĞŶWƌŽǀĞŶĐĞ ŚĞŵŝŶĚĞƐ&ƵƐĂŝŶƐϰϲϲŵůEϭϬϬ E

ŝǆĞŶWƌŽǀĞŶĐĞ WĞƚŝƚĞZŽƵƚĞĚĞƐDŝůůĞƐϭϱϯϭŵůEϮϬϬ E

ŝǆĞŶWƌŽǀĞŶĐĞ WůƵƐŝĞƵƌƐƐĞĐƚĞƵƌƐϱϬϬŵůEϭϬϬ E

ŽƵĐĞůŝƌ hƐŝŶĞWdĞƌƌĞƐůĂŶĐŚĞƐ ϭϱϰϵϯϰϭΦ

ŽƵĐĞůŝƌ WůƵƐŝĞƵƌƐƐĞĐƚĞƵƌƐ ϮϳϱϵϮϰΦ

ŽƵĚŽƵǆ ĂƌŝƵƐDŝůŚĂƵĚ ϰϴϵϱϳΦ

ŽƵĚŽƵǆ sĂƵƚƵďŝğƌĞ ϯϳϱϯϮΦ

&ƵǀĞĂƵ ĐŚĞĚƵĐŚĂůĞƚ^ƵŝƐƐĞ ϮϬϯϳϬΦ

>ĂZŽƋƵĞĚΖŶƚŚĠƌŽŶ >ŝĂŝƐŽŶƐƵĚWĂŝǆͲ>ŝďĠƌĂƚŝŽŶ ϭϯϯϳϲϭΦ

>ĂŵďĞƐĐ ZƵĞ'ƌĂŶĚĞͲWĞůůĞƚĂŶ ϭϵϰϲΦ

>ĂŵďĞƐĐ WƌŽƵƚĞĚĞĞƌƌĞ ϭϳϭϴϴϳΦ

>ĂŵďĞƐĐ ZƚĞĚĞZŽŐŶĞƐ ϮϭϱϳϮϱΦ

>ĞWƵǇ^ĂŝŶƚĞZĠƉĂƌĂĚĞ ŵĠŶĂŐĞŵĞŶƚĚĞƐƌĠƐĞĂƵǆ>ƵďĠƌŽŶ ϱϭϱϬϭΦ

>ĞWƵǇ^ĂŝŶƚĞZĠƉĂƌĂĚĞ ǆƚĞŶƐŝŽŶĂƵ>ĂƌŝĚĞͲŵĂũŽŶƐͲ,ĂƵƚƐĚĞZŽƵƐƐĞƚ ϳϭϯϭϯϳΦ

>ĞWƵǇ^ĂŝŶƚĞZĠƉĂƌĂĚĞ ZĞƐƚƌƵĐƚƵƌĂƚŝŽŶƌĠƐĞĂƵǆŚƵŵŝĚĞƐͲŽƵƌŐĂĚĞ>ĞŽƵƌƐ ϮϬϴϵϭϰΦ

>ĞWƵǇ^ĂŝŶƚĞZĠƉĂƌĂĚĞ ĂƉƚĂŐĞŚĞŶĞƌŝůůĞƐ ϮϴϯϭϰΦ

>ĞƐWĞŶŶĞƐDŝƌĂďĞĂƵ WůĂŶĚĞƐWĞŶŶĞƐ ϯϳϰϰΦ

>ĞƐWĞŶŶĞƐDŝƌĂďĞĂƵ ^ĐŚĠŵĂĚŝƌĞĐƚĞƵƌWĞƚh ϯϵϳϬϭΦ

WĞǇŶŝĞƌ ZĠĂůŝƐĂƚŝŽŶĚĞĚĞƵǆďĂƐƐŝŶƐĚΖĞĂƵƉŽƚĂďůĞ ϭϭϱϮϴϭϬΦ

WĞǇŶŝĞƌ ZĞƉƌŝƐĞƐƌĠƐĞĂƵǆZƵĞĚƵ:ĂŝůůĞƚĞƚƚƌĂǀĞƌƐĞĚĞƐŵĂƌƐĞŝůůĂŝƐ ϵϴϰϵϭΦ

WĞǇŶŝĞƌ ZĞƉƌŝƐĞƌĠƐĞĂƵǆĐĞŶƚƌĞĂŶĐŝĞŶĞƚĂǀĞŶƵĞĚĞsĞƌĚĂůĂŝ ϯϮϱϴϵϴΦ

WĞǇŶŝĞƌ ZĞƉƌŝƐĞƌĠƐĞĂƵǆƌƵĞƐĞƌŐĞƌƐĐŽůĞƐůŽŶŐƵĞĞƚĂǀĞŶƵĞƐŐĂƌĞŶŶĞ^ƚůŽŝĞƚĂĚĂƌƵƐƐĞϭϴϵϰϬϰΦ

WƵǇůŽƵďŝĞƌ ZĠŶŽǀĂƚŝŽŶĚƵƌĠƐĞƌǀŽŝƌĞƚĚĞůĂƐƚĂƚŝŽŶĚĞĨŝůƚƌĂƚŝŽŶ ϵϯϮϱϰϳΦ

ZŽƵƐƐĞƚ ŽŶƐƚƌƵĐƚŝŽŶƵƐŝŶĞW>ĞƐ^ĂƵǀĞƚƐ ϱϮϳϴϬϭΦ

ZŽƵƐƐĞƚ ZĠƐĞĂƵW^ĂƵǀĞƚƐͲͲхƌĠƐĞƌǀŽŝƌĚƵ^ĂĨƌĞ ϯϰϱϬϳϳΦ

ZŽƵƐƐĞƚ KƉϭZĠƐĞĂƵWƋƵĂƌƚŝĞƌ^ĂŝŶƚWƌŝǀĂƚ ϮϭϱϵϯϲΦ

ZŽƵƐƐĞƚ KƉϮDĂŝůůĂŐĞĂŶĞďŝĞƌƐ ϭϮϱϰϭΦ

ZŽƵƐƐĞƚ ^W ϵϵϲϴΦ

^ĂŝŶƚŶƚŽŶŝŶ KƉĠƌĂƚŝŽŶĚΖĞǆƚĞŶƐŝŽŶĚƵƌĠƐĞĂƵĚΖĞĂƵĞƚĚĞŵŝƐĞĞŶĚŝƐĐƌĠƚŝŽŶĚƵƌĠƐĞĂƵĚĞƚĠůĠĐŽŵŵƵŶŝĐĂƚŝŽŶĞƚĞĨĨĂĐƚĞŵĞŶƚĚĞůΖĂƌƚğƌĞĂĠƌŝĞŶŶĞϭϳĞƚϱϲϮϰϵϱϳϭΦ

^ĂŝŶƚĂŶŶĂƚ &ŽƌĂŐĞĞŶƌĞĐŚĞƌĐŚĞĚΖĞĂƵƐŽƵƚĞƌƌĂŝŶĞ ϭϯϬϬΦ

^ĂŝŶƚĂŶŶĂƚ ĂƐƐŝŶƐĚΖĞĂƵƉŽƚĂďůĞͲůŽƐĚƵZŽǇ ϯϰϵϲϰΦ

^ĂŝŶƚĂŶŶĂƚ ǆƚĞŶƐŝŽŶWͲWůĂŶĚΖŝŐƵĞƐ ϳϬϴϬΦ

^ĂŝŶƚĂŶŶĂƚ ǆƚĞŶƐŝŽŶWĞŶƚƌĞsŝůůĂŐĞĞƚĚĞůĂWŝůĞ ϱϭϴϭϯΦ

dƌĞƚƐ ZĠĨĞĐƚŝŽŶWͲĞŶƚƌĞ ϱϲϭϵϲΦ

dƌĞƚƐ KƉϯƉŽƐƚĞĚĞƌĞůĞǀĂŐĞͲ^ĞŝŐŶŝğƌĞƐ ϮϬϲϯϬΦ

sĞŶƚĂďƌĞŶ ǆƚĞŶƐŝŽŶWͲZϭϬ ϴϵϰϮϱϬΦ

sŝƚƌŽůůĞƐ ǀĞŶƵĞĚĞDĂƌƐĞŝůůĞ ϰϭϬϬϰΦ

sŝƚƌŽůůĞƐ ŽƵůĞǀĂƌĚĚĞůΖƵƌŽƉĞ ϲϴϲϲϳΦ

ϴϳϯϲϲϵϵΦ

EEyϱ>ŝƐƚĞĚĞƐĠƚƵĚĞƐĞƚƚƌĂǀĂƵǆ

ŽŵŵƵŶĞ EĂƚƵƌĞĚĞƐŽƉĠƌĂƚŝŽŶƐĂƐƐĂŝŶŝƐƐĞŵĞŶƚ DŽŶƚĂŶƚ,d

ŝǆĞŶWƌŽǀĞŶĐĞ ZŽƵƚĞĚĞWŝŶĐŚŝŶĂƚϭϰϮϭŵůEϮϬϬ E

ŝǆĞŶWƌŽǀĞŶĐĞ ŚĞŵŝŶĚĞƐ&ƵƐĂŝŶƐϯϱϰŵůEϮϬϬ E

ŝǆĞŶWƌŽǀĞŶĐĞ ZƵĞĞůĞƐƚŝŶϭϵϴŵůEϮϬϬ E

ŝǆĞŶWƌŽǀĞŶĐĞ EŽƵǀĞůůĞƐ^ĐğŶĞƐϭϲϬŵůEϮϬϬ E

ŝǆĞŶWƌŽǀĞŶĐĞ ŝĨĨĠƌĞŶƚƐƐĞĐƚĞƵƌƐϱϱϬŵůEϮϬϬ E

ŽƵĐĞůŝƌ ^dW^/W ϭϯϰϭϲϲΦ

ŽƵĐĞůŝƌ YƵĂƌƚŝĞƌ>Ă^ĂůůĞ ϴϯϳϲϰϵΦ

ŽƵĐĞůŝƌ WůƵƐŝĞƵƌƐƐĞĐƚĞƵƌƐ ϲϰϯϴϮϯΦ

ŽƵĚŽƵǆ ĂƌŝƵƐDŝůŚĂƵĚ ϯϰϴϴϲΦ

ŽƵĚŽƵǆ sĂƵƚƵďŝğƌĞ ϱϮϵϬϴΦ

&ƵǀĞĂƵ ĐŚĞĚƵĐŚĂůĞƚ^ƵŝƐƐĞ ϭϴϰϴϲΦ

&ƵǀĞĂƵ 'ƌĂŶĚsĂůůĂƚ ϮϯϭϰϰϮΦ

>ĂŵďĞƐĐ ZƵĞ'ƌĂŶĚĞͲWĞůůĞƚĂŶ ϰϲϲϴΦ

>ĂŵďĞƐĐ ZƚĞĚĞZŽŐŶĞƐ ϭϬϮϲϰΦ

>ĂŵďĞƐĐ WZĞƌƚŽŝƌĞ ϵϲϬϬΦ

>ĞWƵǇ^ĂŝŶƚĞZĠƉĂƌĂĚĞ ŵĠŶĂŐĞŵĞŶƚĚĞƐƌĠƐĞĂƵǆ>ƵďĠƌŽŶ ϯϮϭϮϯΦ

>ĞWƵǇ^ĂŝŶƚĞZĠƉĂƌĂĚĞ ǆƚĞŶƐŝŽŶƐƐĂŝŶŝƐƐĞŵĞŶƚͲ>ĂƌŝĚĞͲŵĂũŽŶƐ ϭϭϲϭϵϳϬΦ

>ĞWƵǇ^ĂŝŶƚĞZĠƉĂƌĂĚĞ ZĞƐƚƌƵĐƚƵƌĂƚŝŽŶƌĠƐĞĂƵǆŚƵŵŝĚĞƐͲŽƵƌŐĂĚĞ>ĞŽƵƌƐ ϭϵϮϯϴϭΦ

>ĞƐWĞŶŶĞƐDŝƌĂďĞĂƵ Zϯϲϴ ϰϲϬϮϯΦ

>ĞƐWĞŶŶĞƐDŝƌĂďĞĂƵ WĂƐĚĞůĂDƵĞ ϭϱϱϮϱΦ

>ĞƐWĞŶŶĞƐDŝƌĂďĞĂƵ WůĂŶĚĞĂŵƉĂŐŶĞ ϭϱϱϲϭΦ

>ĞƐWĞŶŶĞƐDŝƌĂďĞĂƵ ƐƉůĂŶĂĚĞĚƵƐŽůĞŝů ϭϭϵϭϳΦ

>ĞƐWĞŶŶĞƐDŝƌĂďĞĂƵ ^ĐŚĠŵĂĚŝƌĞĐƚĞƵƌWĞƚh ϰϰϵϱϬΦ

DĞǇƌĞƵŝů dƌĂǀĂƵǆĚŝǀĞƌƐ^dWͲϮϬϭϴ ϳϲϱϵΦ

WĞǇŶŝĞƌ ZĞƉƌŝƐĞƐƌĠƐĞĂƵǆZƵĞĚƵ:ĂŝůůĞƚĞƚƚƌĂǀĞƌƐĞĚĞƐŵĂƌƐĞŝůůĂŝƐ ϵϵϵϬϱΦ

WĞǇŶŝĞƌ ZĞƉƌŝƐĞƌĠƐĞĂƵǆĐĞŶƚƌĞĂŶĐŝĞŶĞƚĂǀĞŶƵĞĚĞsĞƌĚĂůĂŝ ϮϳϬϯϰϰΦ

WĞǇŶŝĞƌ ZĞƉƌŝƐĞƌĠƐĞĂƵǆƌƵĞƐĞƌŐĞƌƐĐŽůĞƐůŽŶŐƵĞĞƚĂǀĞŶƵĞƐŐĂƌĞŶŶĞ^ƚůŽŝĞƚĂĚĂƌƵƐƐĞϭϰϭϭϰϭΦ

ZŽŐŶĞƐ ŽŶƐƚƌƵĐƚŝŽŶŶŽƵǀĞůůĞ^dW ϰϬϬϬϭϮΦ

ZŽƵƐƐĞƚ ĂŶĂůŝƐĂƚŝŽŶĚĞƐĞĐŽƵƌƐĞŶƚƌĞůĞƐĚĞƵǆƐƚĂƚŝŽŶƐ ϭϰϴϭϬϲΦ

ZŽƵƐƐĞƚ ZĞŶŽƵǀĞůůĞŵĞŶƚĠƋƵŝƉĞŵĞŶƚƐƐƚĞƉĚŽŵĞƐƚŝƋƵĞ ϴϮϳϴϵΦ

ZŽƵƐƐĞƚ ZĞŶŽƵǀĞůůĞŵĞŶƚĠƋƵŝƉĞŵĞŶƚƐƐƚĞƉŝŶĚƵƐƚƌŝĞůůĞ ϮϳϲϴϰϴΦ

ZŽƵƐƐĞƚ ZĠƐĞĂƵĞĂƵǆƵƐĠĞƐĂƌƌĞĨŽƵƌ>ĂƌĐŝĂŶŽ ϰϵϮϬϵΦ

^ĂŝŶƚĂŶŶĂƚ ǆƚĞŶƐŝŽŶWĞƚhͲWůĂŶĚΖŝŐƵĞƐ ϭϵϵϬϬϮΦ

dƌĞƚƐ ƌĠĨĞĐƚŝŽŶWĞƚhͲĞŶƚƌĞ ϴϬϮϯϮΦ

dƌĞƚƐ ŵĠŶĂŐĞŵĞŶƚƐƐƚĞƉ ϯϵϰϰϰϲΦ

sĞŶƚĂďƌĞŶ ǆƚĞŶƐŝŽŶhͲZϭϬ ϴϵϰϮϱϬΦ

sŝƚƌŽůůĞƐ ǀĞŶƵĞĚĞDĂƌƐĞŝůůĞ ϳϱϯϳϬΦ

sŝƚƌŽůůĞƐ ŽƵůĞǀĂƌĚĚĞůΖƵƌŽƉĞ ϱϯϴϳϱΦ

sŝƚƌŽůůĞƐ KƉĠƌĂƚŝŽŶZϮϬ ϰϳϯϵΦ

^DZ, dƌĂŶƐĨĞƌƚĚĞƐĞĨĨůƵĞŶƚƐĐŽŶƐƚƌƵĐƚŝŽŶWZ>ĂĂƌƋƵĞ ϵϮϬϰϰϴΦ

ϳϱϵϲϳϭϵΦ


$11(;(7$%/($8;5(&$3,78/$7,)6'(6,1',&$7(856'(3(5)250$1&(

3285/¶$66$,1,66(0(173$5&20081(6

$11(;( &RPPXQHVHQ'63

,QGLFDWHXUVGHSHUIRUPDQFHGXVHUYLFHSXEOLFGHODVVDLQLVVHPHQWFROOHFWLI

8QLWp%HDXUHFXH

LO%RXF%HO

$LU6,3$ &DEULqV &RXGRX[ 6,$&9 (JXLOOHV

,1',&$7(8565(/$7,)6$8;7$5,)6





¼




93$JHQFHVGHOHDXUHGHYDQFHPRGHUQLVDWLRQGHVUpVHDX[ ¼

939RLHV1DYLJDEOHVGH)UDQFH91)5HMHWV ¼


,1',&$7(856'(3(5)250$1&('85(6($8'(&2//(&7(

'1RPEUHGDXWRULVDWLRQVGHGpYHUVHPHQWGHIIOXHQWVGpWDEOLVVHPHQWVLQGXVWULHOVDXUpVHDXGHFROOHFWH

X

93/LQpDLUHGHUpVHDXKRUVEUDQFKHPHQWV NP ϯϵϴ ϴϮϳϭ ϲϱϬ ϰϳϯϱ ϭϳϲϵ ϬϬϬ ϱϱϵϰ3%,QGLFHGHFRQQDLVVDQFHHWGHJHVWLRQSDWULPRQLDOHGHVUpVHDX[G¶HDX[XVpHV

15

931RPEUHGHSRLQWVQRLUV X

31RPEUHGHSRLQWVGXUpVHDXGHFROOHFWHQpFHVVLWDQWGHVLQWHUYHQWLRQVIUpTXHQWHVGHFXUDJHSRXUNPGHUpVHDX

XNP

93/LQpDLUHGHUpVHDX[UHQRXYHOpVDXFRXUVGHVGHUQLqUHVDQQpHV

NP

37DX[PR\HQGHUHQRXYHOOHPHQWGHVUpVHDX[G¶HDX[XVpHV

3&RQIRUPLWpGHODFROOHFWHGHVHIIOXHQWVDX[SUHVFULSWLRQVQDWLRQDOHVLVVXHVGHODGLUHFWLYH(58

15 15 15 15 15 15 15

3,QGLFHGHFRQQDLVVDQFHGHVUHMHWVDXPLOLHXQDWXUHOSDUOHVUpVHDX[GHFROOHFWHGHVHDX[XVpHV

15 15 15

/(6,1',&$7(856'(3(5)250$1&(5(/$7,)6$/(385$7,21

&KDUJHPR\HQQHHQWUDQWHHQ'%2NJ

'%2M 15 15

3&RQIRUPLWpGHVpTXLSHPHQWVG¶pSXUDWLRQDX[SUHVFULSWLRQVQDWLRQDOHVLVVXHVGHODGLUHFWLYH(58

15 15 15 15 15 15 15

3&RQIRUPLWpGHODSHUIRUPDQFHGHVRXYUDJHVG¶pSXUDWLRQDX[SUHVFULSWLRQVQDWLRQDOHVLVVXHVGHODGLUHFWLYH(58

15 15 15 15 15 15 15

3&RQIRUPLWpGHVSHUIRUPDQFHVGHVpTXLSHPHQWVG¶pSXUDWLRQDXUHJDUGGHVSUHVFULSWLRQVGHO¶DFWHLQGLYLGXHO

15 15 15

'4XDQWLWpGHERXHVLVVXHVGHVRXYUDJHVG¶pSXUDWLRQ W06

37DX[GHERXHVLVVXHVGHVRXYUDJHVG¶pSXUDWLRQpYDFXpHVVHORQOHVILOLqUHVFRQIRUPHVjODUpJOHPHQWDWLRQ

15 15

/(6,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$48$/,7('(6(59,&($/¶86$*(5

931RPEUHGDERQQpV X 15 15

'1RPEUHGKDELWDQWVGHVVHUYLV X 15 15 15 15 15

931RPEUHSRWHQWLHOVGDERQQpVGHOD]RQHUHOHYDQWGHODVVDLQLVVHPHQWFROOHFWLI

X 15 15 15

37DX[GHGHVVHUWHSDUGHVUpVHDX[GHFROOHFWHGHVHDX[XVpHV 15 15 15

931RPEUHGLQRQGDWLRQVGDQVOHVORFDX[GHOXVDJHU X

37DX[GHGpERUGHPHQWGHIIOXHQWVGDQVOHVORFDX[GHVXVDJHUVX

DE


37DX[GHUpFODPDWLRQVX

DE

/(6,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$*(67,21),1$1&,(5(936RPPHGHVDEDQGRQVGHFUpDQFHVHWYHUVHPHQWVjXQIRQGVGHVROLGDULWp)6/GXGpSDUWHPHQWHWIRQGVGDLGHVSpFLILTXHDXWHUULWRLUHVLH[LVWDQW79$H[FOXH

¼

939ROXPHIDFWXUp P



9ROXPHIDFWXUp P 15


$11(;(


8QLWp

,1',&$7(8565(/$7,)6$8;7$5,)6





¼







,1',&$7(856'(3(5)250$1&('85(6($8'(&2//(&7(


X


3%,QGLFHGHFRQQDLVVDQFHHWGHJHVWLRQSDWULPRQLDOHGHVUpVHDX[G¶HDX[XVpHV



XNP


NP




/(6,1',&$7(856'(3(5)250$1&(5(/$7,)6$/(385$7,21


'%2M






/(6,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$48$/,7('(6(59,&($/¶86$*(5

931RPEUHGDERQQpV X



X

37DX[GHGHVVHUWHSDUGHVUpVHDX[GHFROOHFWHGHVHDX[XVpHV



DE93931RPEUHGHUpFODPDWLRQVpFULWHV X


DE/(6,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$*(67,21),1$1&,(5(936RPPHGHVDEDQGRQVGHFUpDQFHVHWYHUVHPHQWVjXQIRQGVGHVROLGDULWp)6/GXGpSDUWHPHQWHWIRQGVGDLGHVSpFLILTXHDXWHUULWRLUHVLH[LVWDQW79$H[FOXH

¼

939ROXPHIDFWXUp P



9ROXPHIDFWXUp P


&RPPXQHVHQ'63

)XYHDX 60$5+ -RXTXHV/D5RTXHG$QWKpUR

Q/DPEHVF

/H3X\6DLQWH

5pSDUDGH

/H7KRORQHW

ϯϯϱϲ ϱϬϰ ϭϯϴϵ ϯϰϮϳ ϰϭϵϰ ϭϴϰϴ ϭϮϮϭ

15 15 15 15 15 15 15

15 15 15

15

15 15 15 15 15 15 15

15 15 15 15 15 15 15

15 15

15 15

15

15

15 15

15 15

$11(;(


8QLWp

,1',&$7(8565(/$7,)6$8;7$5,)6





¼







,1',&$7(856'(3(5)250$1&('85(6($8'(&2//(&7(


X





XNP


NP




/(6,1',&$7(856'(3(5)250$1&(5(/$7,)6$/(385$7,21


'%2M






/(6,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$48$/,7('(6(59,&($/¶86$*(5

931RPEUHGDERQQpV X



X







¼

939ROXPHIDFWXUp P



9ROXPHIDFWXUp P


&RPPXQHVHQ'63

/HV3HQQHV0LUDEHDX

0H\UDUJXHV

0H\UHXLO 3H\QLHU 3H\UROOHV 3X\ORXELHU 5RJQHV

ϭϭϬϰϬ ϭϮϬϭ ϯϲϭϰ ϭϴϲϮ Ϯϱϭϱ ϵϯϰ ϵϯϲ

15 15 15 15 15 15 15

15

15

15 15 15 15 15 15 15

15 15 15 15 15 15 15

15 15

15 15 15

15

15

$11(;(


8QLWp

,1',&$7(8565(/$7,)6$8;7$5,)6





¼







,1',&$7(856'(3(5)250$1&('85(6($8'(&2//(&7(


X





XNP


NP




/(6,1',&$7(856'(3(5)250$1&(5(/$7,)6$/(385$7,21


'%2M






/(6,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$48$/,7('(6(59,&($/¶86$*(5

931RPEUHGDERQQpV X



X







¼

939ROXPHIDFWXUp P



9ROXPHIDFWXUp P


&RPPXQHVHQ'63 5(3$

5RXVVHW6DLQW&DQQDW

7UHWV9DXYHQDUJ

XHV9HQWDEUHQ 9LWUROOHV

$L[HQ3URYHQFH

¼

ϮϮ

Ϯϴϭϵ ϭϵϯϴ ϰϮϱϰ ϯϲϮ ϯϭϮϲ ϭϰϮϳϱ

15 15 15 15 15 15 15

15 15 15 15 15 15 15

15 15 15 15 15 15 15

15 15

15 15 15

15

15

$11(;(


8QLWp

,1',&$7(8565(/$7,)6$8;7$5,)6





¼







,1',&$7(856'(3(5)250$1&('85(6($8'(&2//(&7(


X





XNP


NP




/(6,1',&$7(856'(3(5)250$1&(5(/$7,)6$/(385$7,21


'%2M






/(6,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$48$/,7('(6(59,&($/¶86$*(5

931RPEUHGDERQQpV X



X







¼

939ROXPHIDFWXUp P



9ROXPHIDFWXUp P


5(3$

*DUGDQQH 9HQHOOHV6DLQW3DXO

/H]'XUDQFH

&KDWHDXQHXIOHURXJH

6DLQW0DUFGH

-DXPHJDUGH

6DLQW(VWqYH

6DLQW$QWRQLQ

¼ ¼ ¼ ¼ ¼ ¼

Ϯ Ϭ Ϭ Ϭ Ϭ Ϭ

15

15 15

15

15 15 15

15

15 15 15 15 15

15 15 15 15 15 15

15 15 15 15 15 15

15 15 15 15 15 15 15

15 15 15 15 15

15 15 15 15 15 15 15

15 15 15 15 15

15 15 15 15 15

15 15 15

15 15 15 15 15 15

$11(;(


8QLWp

,1',&$7(8565(/$7,)6$8;7$5,)6





¼







,1',&$7(856'(3(5)250$1&('85(6($8'(&2//(&7(


X





XNP


NP




/(6,1',&$7(856'(3(5)250$1&(5(/$7,)6$/(385$7,21


'%2M






/(6,1',&$7(856'(3(5)250$1&(5(/$7,)6$/$48$/,7('(6(59,&($/¶86$*(5

931RPEUHGDERQQpV X



X







¼

939ROXPHIDFWXUp P



9ROXPHIDFWXUp P


6,%$0

*UpDVTXH 0LPHW6LPLDQH&ROORQJXH

7HUULWRLUHGX3D\VG$L[

Ϯϱϭϳ ϭϳϮϴ ϮϭϴϬ ϭϰϴϬϰϴ

15 15 15 15

15 15 15

15 15 15 15

15 15 15 15

15 15 15 15

15 15 15

15 15 15

15 15 15

15 15 15

15 15 15


$11(;( 7$%/($83$75,02,1($66$,1,66(0(17

$11(;(3$75,02,1($66$,1,66(0(17'63

&RPPXQHV 7UDLWHPHQW 3URFpGp ([XWRLUH

$L[HQ3URYHQFH 3LROLQH(+67(328(67(+ %RXHVDFWLYpHV $UF

%HDXUHFXHLO 67(3(+ /LWEDFWpULHQIRUWHFKDUJH 5XLVVHDX%UDQFDw$UF

%RXFEHODLU 67(3FRPPXQHDYHF6LPLDQH(+ %RXHVDFWLYpHV *UDQG9DODW$UF

&DEULHV 67(3/DJUHPHXVH(+67(3$UERLV(+ %RXHVDFWLYpHV *UDQG9DODW$UF

&KDWHDXQHXIOHURXJH 67(3YLOODJH(+HW67(3JDYRWWH(+'LVTXHVELRORJLTXHVHWILOWUHV

SODQWpVGHURVHDX[$UF

&RXGRX[ 67(3FRPPXQHDYHF9HQWDEUHQ(+HW9HODX[ %RXHVDFWLYpHV $UF

(JXLOOHV 67(3(+ %RXHVDFWLYpHV $UF

)XYHDX67(3FRPPXQHDYHF*UpDVTXH6\QGLFDWGH5LYHV+DXWHV±(+67(3/D%DUTXH(+

ERXHVDFWLYpHV/LWEDFWpULHQ $UF

*DUGDQQH 67(3(+ %RXHVDFWLYpHV /D/X\QHV

*UpDVTXH67(3FRPPXQHDYHF)XYHDX6\QGLFDWGH5LYHV+DXWHV

±(+FI)XYHDX FI)XYHDX

-RXTXHV 67(3(+ %RXHVDFWLYpHV OH5pDO'XUDQFH

/DPEHVF (+ %RXHVDFWLYpHV /H%RXUHO\7RXORXEUH

0H\UDUJXHV 67(3(+ %RXHVDFWLYpHV 'XUDQFH

0H\UHXLO 67(3(+ %RXHVDFWLYpHV $UF

0LPHW 3DVGH67(3(IIOXHQWVWUDLWpVSDU*DUGDQQH

3HQQHV0LUDEHDX3DVGH67(3(IIOXHQWVWUDLWpVSDU9LWUROOHVHW67(3GH

0DUVHLOOH

3HUWXLV 67(3 %RXHVDFWLYpHV 'XUDQFH

3H\QLHU67(3(+9LOODJH(++DPHDXGHV

0LFKHOV%RXHVDFWLYpHV'pFDQWDWLRQ

GLJHVWLRQDQDpURELH$UF

$11(;(3$75,02,1($66$,1,66(0(17'63

&RPPXQHV 7UDLWHPHQW 3URFpGp ([XWRLUH

3H\UROOHV 67(3(+ %RXHVDFWLYpHV 'XUDQFH

3X\6WH5pSDUDGH 67(3(+9LOODJH(+6W&DQDGHW%RXHVDFWLYpHVOLWEDFWpULHQILOWUDWLRQ

'XUDQFH

3X\ORXELHU 67(3(+ /LWEDFWpULHQ $UF

5RJQHV67(3YLOODJH(+H[LVWDQWHVYpWXVWHVELHQWWUHPSODFpHVSDUQRXYHOOH67(3SURJUDPPH

%RXHVDFWLYpHVODJXQDJHDpUp

'XUDQFH

5RTXHG$QWKpURQ 67(3(+ %RXHVDFWLYpHV 'XUDQFH

5RXVVHW 67(3(+67(3LQGXVWULHOOH )LOWUDWLRQSDUPHPEUDQH $UF

6LPLDQH&ROORQJXH 67(3FRPPXQHDYHF%RXF%HO$LU(+ FI%RXF%HO$LU FI%RXF%HO$LU

6W$QWRQLQ%D\RQ3DVGHUpVHDXQL67(3(QFRXUVGHFRQVWLWXWLRQUpVHDXYLOODJHFHQWUHHWWUDLWHPHQWSDU67(3GHOD

PDLVRQ6DLQWYLFWRLUH/H%D\RQ$UF

6W&DQQDW 67(3(+ %RXHVDFWLYpHV /D7RXORXEUH

6W(VWqYH-DQVRQ 67(3(+ )LOWUHV3ODQWpVGH5RVHDX[ 'XUDQFH

6W0DUF-DXPHJDUGH 67(3(+%RQILOORQV )LOWUHV3ODQWpVGH5RVHDX[ /LQIHUQHW$UF

6W3DXOOHV'XUDQFH 67(3(+UpKDELOLWpHUpFHPPHQW /DJXQDJH 'XUDQFH

7KRORQHW/H 3DVGH67(3(IIOXHQWVWUDLWpVSDU$L[HQ3URYHQFH FI$L[ FI$L[

7UHWV 67(3(+ %RXHVDFWLYpHV $UF

9DXYHQDUJXHV 67(3(+ )LOWUHV3ODQWpVGH5RVHDX[ /D&DXVH$UF

9HQHOOHV67(3(+6XG67(3(+1RUGHQ

SUpYLVLRQGHUHQRXYHOOHPHQWERXHVDFWLYpHV/LWEDFWpULHQ 'XUDQFH7RXORXEUH

9HQWDEUHQ 67(3FRPPXQHDYHF&RXGRX[(+HW9HODX[ FI&RXGRX[ FI&RXGRX[

9LWUROOHV67(3(+±WUDLWHOHV3HQQHV0LUDEHDX

pJDOHPHQW%RXHVDFWLYpHV /D&DGLqUH

$11(;(3$75,02,1(

$66$,1,66(0(175(*,('83$<6'¶$,;

$66$,1,66(0(175(*,('8%$66,10,1,(5(7'8*$5/$%$1

/HVRXYUDJHVGXVHUYLFHVHFRPSRVHQWHVVHQWLHOOHPHQWG¶XQUpVHDXGHFROOHFWH


$11(;( &2037(6'¶(;3/2,7$7,21'(7$,//(63285/¶$66$,1,66(0(17

&$5(&$

ŶŶĞǆĞϴ^^d%HDXUHFXHLO

%RXF%HO$LU

6,3$ &DEULqV &RXGRX[ 6,$&9 (JXLOOHV )XYHDX 60$5+ -RXTXHV/D5RTXHG$QWKpURQ

/DPEHVF/H3X\6WH5pSDUDGH

/H7KRORQHW

ZϮϬϭϴWƌŽĚƵŝƚƐ Ϯϳϲϯϵ ϱϯϴϵϯϬ ϱϮϰϱϴϲ ϱϬϳϴϳϲ ϲϵϯϰϭ ϯϬϮϱϳϲ ϲϬϵϱϬϵ ϯϰϭϴϱϱ ϰϮϭϵϯϳ ϮϰϴϭϭϬ ϰϬϭϱϯϴ ϰϬϯϳϭϮ ϮϲϵϭϱϮ ϭϴϬϬϯϬ

ŚĂƌŐĞƐ ϰϮϲϯϵ ϱϵϳϴϮϱ ϱϲϲϵϲϳ ϲϮϭϬϬϲ ϴϰϲϱϳ ϯϵϮϮϭϳ ϲϴϯϮϳϰ ϯϵϮϴϬϭ ϰϳϲϭϴϳ ϮϵϱϯϯϬ ϰϲϯϱϯϳ ϱϮϱϲϭϴ ϯϯϳϮϲϮ ϯϬϱϬϬϮ

ZĠƐƵůƚĂƚĂǀĂŶƚŝŵƉŽƚ Ͳϭϰϰϱϰ Ͳϱϴϴϵϱ ͲϰϮϯϴϭ ͲϭϭϯϭϮϴ Ͳϭϱϯϭϲ Ͳϴϵϲϰϭ Ͳϳϯϳϲϳ ͲϱϬϵϰϲ ͲϱϰϮϱϬ ͲϰϳϮϮϬ Ͳϲϭϵϵϵ ͲϭϮϭϵϬϲ ͲϲϴϭϭϬ ͲϭϮϰϵϳϯ

ZĠƐƵůƚĂƚŶĞƚ Ͳϭϰϰϱϰ Ͳϱϴϴϵϱ ͲϰϮϯϴϭ ͲϭϭϯϭϮϴ Ͳϭϱϯϭϲ Ͳϴϵϲϰϭ Ͳϳϯϳϲϳ ͲϱϬϵϰϲ ͲϱϰϮϱϬ ͲϰϳϮϮϬ Ͳϲϭϵϵϵ ͲϭϮϭϵϬϲ ͲϲϴϭϭϬ ͲϭϮϰϵϳϮ

ŶŶĞǆĞϴ^^d

ZϮϬϭϴWƌŽĚƵŝƚƐ

ŚĂƌŐĞƐ

ZĠƐƵůƚĂƚĂǀĂŶƚŝŵƉŽƚ

ZĠƐƵůƚĂƚŶĞƚ

/HV3HQQHV0LUDEHDX

0H\UDUJXHV 0H\UHXLO 3H\QLHU 3H\UROOHV 3X\ORXELHU 5RJQHV 5RXVVHW6DLQW&DQQDW

7UHWV9DXYHQDUJX

HV9HQWDEUHQ 9LWUROOHV 7RWDO'63

ϭϯϴϲϮϯϳ ϭϱϴϳϮϯ ϱϭϳϮϬϬ ϭϯϯϰϱϮ Ϯϵϯϱϰϰ ϭϬϱϵϮϮ ϭϯϴϰϲϬ ϳϮϴϯϬϰ ϮϯϯϯϯϬ ϱϬϯϰϴϰ ϯϬϱϳϰ ϲϵϵϱϱ ϮϳϲϱϮϬϬ ϭϭϵϭϭϭϳϲ

ϭϱϮϬϮϮϬ ϮϬϮϴϳϯ ϱϮϭϬϬϬ ϮϯϰϮϬϯ ϯϳϴϰϬϴ ϭϯϰϮϮϭ ϭϱϳϭϰϬ ϴϬϭϮϮϴ ϮϲϳϵϯϬ ϱϬϴϵϱϬ ϯϳϬϵϯ ϳϳϭϯϰ ϮϴϭϱϴϬϬ ϭϯϰϰϬϱϮϮ

ͲϭϯϯϵϴϮ ͲϰϰϭϲϬ ͲϯϴϬϬ ͲϭϬϬϳϱϭ Ͳϴϰϴϲϰ ͲϮϴϮϵϵ ͲϭϴϲϴϬ ͲϳϮϵϮϰ ͲϯϰϲϬϬ ͲϭϬϱϰϲϲ Ͳϲϱϭϵ Ͳϳϭϳϴ ͲϱϬϲϬϬ ͲϭϲϮϴϴϬϵ

ͲϭϯϯϵϴϮ ͲϰϰϭϲϬ ͲϯϴϬϬ ͲϭϬϬϳϱϭ Ͳϴϰϴϲϰ ͲϮϴϮϵϵ ͲϭϴϲϴϬ ͲϳϮϵϮϰ ͲϯϰϲϬϬ ͲϭϬϱϰϲϲ Ͳϲϱϭϵ Ͳϳϭϳϴ ͲϱϬϲϬϬ ͲϭϲϮϴϴϬϴ


$11(;( 63$1&

DE^>ΖKZ/'/EhWKdK^^/ZKEWd/KEh^WE

WĞƌŵŝƐĚĞĐŽŶƐƚƌƵŝƌĞ

ƌĞůĂƚŝĨƐăĐŽŶƐƚƌƵĐƚŝŽŶ

ŶĞƵǀĞ

WĞƌŵŝƐĚĞĐŽŶƐƚƌƵŝƌĞ

ƌĞůĂƚŝĨƐăĐŽŶƐƚƌƵĐƚŝŽŶ

ĞǆŝƐƚĂŶƚĞ

ĞŵĂŶĚĞƐĚĞ

ƌĠŚĂďŝůŝƚĂƚŝŽŶ

;ĚŽƐƐŝĞƌƐĚĠƉŽƐĠƐ

ŚŽƌƐĚĞŵĂŶĚĞ

ĚΖƵƌďĂŶŝƐŵĞͿ

dKd>

/yEWZKsE ϭϬ ϭϭ ϰϬ ϲϭ

hZh/> Ϯ Ϯ ϰ

Kh>/Z ϭ Ϯ ϯ

Z/^ ϴ ϲ ϲ ϮϬ

,dhEh&>ZKh' ϭ ϯ ϰ

KhKhy ϭ ϭ

'h/>>^ ϭ ϱ ϲ

&hsh ϭ ϭϬ ϲ ϭϳ

'ZEE ϭ ϭ ϯ ϱ

'Z^Yh Ϯ Ϯ ϰ

:KhYh^ Ϯ ϰ ϲ

>D^ ϵ Ϯ ϴ ϭϵ

DzZZ'h^ ϲ Ϯ Ϯ ϭϬ

DzZh/> ϭ ϭ ϱ ϳ

D/Dd ϴ ϭ ϯ ϭϮ

>^WEE^D/Zh ϯ ϯ Ϯ ϴ

WZdh/^ ϭ ϲ ϳ

WzE/Z Ϯ ϱ ϯ ϭϬ

WzZK>>^EWZKsE ϰ ϰ

Whz>Kh/Z ϭ ϭ Ϯ

>Whz^/EdZWZ ϵ ϭ ϰ ϭϰ

ZK'E^ ϭ ϲ ϳ ϭϰ

>ZKYhΖEd,ZKE ϭ ϭ ϭ ϯ

ZKh^^d ϭ ϭ ϭ ϯ

^/EdEdKE/E^hZzKE Ϯ ϭ ϭ ϰ

^/EdEEd ϴ ϲ ϭϰ Ϯϴ

^/Ed^ds:E^KE

^/EdDZ:hD'Z Ϯ ϯ ϱ

^/EdWh>>hZE

^/D/EK>>KE'h ϯ Ϯ ϱ

>d,K>KEd ϯ ϯ ϲ ϭϮ

dZd^ ϭ ϭ ϭϭ ϭϯ

shsEZ'h^ ϯ ϯ

sE>>^ ϭ Ϯ ϰ ϳ

sEdZE Ϯ Ϯ

s/dZK>>^ ϭ ϭ Ϯ

dŽƚĂů ϴϰ ϴϭ ϭϲϬ ϯϮϱ

KEdZN>^/E^d>>d/KE^y/^dEd^/>EYhEd/dd/&

ŝĂŐŶŽƐƚŝĐĚĞďŽŶ

ĨŽŶĐƚŝŽŶŶĞŵĞŶƚ

ŝĂŐŶŽƐƚŝĐƉƌĠĂůĂďůĞăƵŶĞ

ǀĞŶƚĞ

ŝĂŐŶŽƐƚŝĐƌĞůĂƚŝĨăƵŶĞ

ĚĞŵĂŶĚĞĚΖƵƌďĂŶŝƐŵĞŽŶƚƌĞǀŝƐŝƚĞ dKd>

/yEWZKsE Ϯϯϱ ϭϰϲ Ϯ ϯϴϯ

hZh/> ϲ ϲ

Kh>/Z ϯ ϱ ϴ

Z/^ ϭϮ ϭϳ Ϯϵ

,dhEh&>ZKh' ϴ ϴ

KhKhy ϰϱ ϭ ϰϲ

'h/>>^ Ϯϲ ϭ Ϯϳ

&hsh Ϯϵ ϯϵ Ϯ ϳϬ

'ZEE ϯ ϭϯ ϭϲ

'Z^Yh ϴ ϴ

:KhYh^ Ϯϵ Ϯϵ

>D^ ϰϴϳ ϲ ϰϵϯ

DzZZ'h^ ϭϬ ϰ ϭϰ

DzZh/> ϮϯϬ ϭϯ ϰ Ϯϰϳ

D/Dd Ϯϰ Ϯϰ

>^WEE^D/Zh ϯϰ ϯϰ

WZdh/^ ϮϬ ϮϬ

WzE/Z ϮϬ ϭϬ ϯϬ

WzZK>>^EWZKsE ϭ ϲ ϳ

Whz>Kh/Z ϳ ϳ

>Whz^/EdZWZ Ϯϯ ϭ Ϯϰ

ZK'E^ ϰϮ ϰϮ

>ZKYhΖEd,ZKE ϭ ϭ

ZKh^^d ϭϯ ϭϯ

^/EdEdKE/E^hZzKE ϭ ϭ

^/EdEEd ϭ Ϯϭ ϮϮ

^/Ed^ds:E^KE ϭ ϭ

^/EdDZ:hD'Z ϭϯ ϭϯ

^/EdWh>>hZE Ϯ Ϯ

^/D/EK>>KE'h ϭϱ ϭϱ

>d,K>KEd ϭ ϭϭ ϭϮ

dZd^ ϯϬ Ϯ ϯϮ

shsEZ'h^ ϭϭ ϭϭ

sE>>^ Ϯϲ Ϯϲ

sEdZE Ϯϭ Ϯϭ

s/dZK>>^ ϯ ϯ

dKd> ϭϬϲϳ ϲϲϮ ϭϲ ϭϳϰϱ

KEdZN>^/E^d>>d/KE^y/^dEd^/>EYh>/dd/&

EŽŵďƌĞ й EŽŵďƌĞ й EŽŵďƌĞ й EŽŵďƌĞ й EŽŵďƌĞ й

/yEWZKsE ϱ ϭϯϭй ϭϯ ϯϰϭй ϮϱϮ ϲϲϭϰй Ϯϵ ϳϲϭй ϴϮ ϮϭϱϮй ϯϴϭ

hZh/> Ϯ ϯϯϯϯй ϰ ϲϲϲϳй ϲ

Kh>/Z ϭ ϭϮϱϬй ϳ ϴϳϱϬй ϴ

Z/^ ϭ ϯϱϳй ϭϵ ϲϳϴϲй Ϯ ϳϭϰй ϲ Ϯϭϰϯй Ϯϴ

,dhEh&>ZKh' ϭ ϭϮϱϬй ϱ ϲϮϱϬй ϭ ϭϮϱϬй ϭ ϭϮϱϬй ϴ

KhKhy Ϯ ϰϯϱй ϯϮ ϲϵϱϳй ϭϮ ϮϲϬϵй ϰϲ

'h/>>^ ϭ ϯϳϬй Ϯ ϳϰϭй ϭϳ ϲϮϵϲй Ϯ ϳϰϭй ϱ ϭϴϱϮй Ϯϳ

&hsh ϭ ϭϰϱй ϳ ϭϬϭϰй ϰϬ ϱϳϵϳй ϵ ϭϯϬϰй ϭϮ ϭϳϯϵй ϲϵ

'ZEE ϰ ϮϱϬϬй ϴ ϱϬϬϬй ϰ ϮϱϬϬй ϭϲ

'Z^Yh ϭ ϭϮϱϬй ϰ ϱϬϬϬй ϭ ϭϮϱϬй Ϯ ϮϱϬϬй ϴ

:KhYh^ ϰ ϭϰϮϵй ϭϯ ϰϲϰϯй ϯ ϭϬϳϭй ϴ Ϯϴϱϳй Ϯϴ

>D^ Ϯ Ϭϰϭй ϱϭ ϭϬϰϭй ϯϬϱ ϲϮϮϰй ϰϬ ϴϭϲй ϵϮ ϭϴϳϴй ϰϵϬ

DzZZ'h^ ϭ ϳϲϵй ϳ ϱϯϴϱй ϰ ϯϬϳϳй ϭ ϳϲϵй ϭϯ

DzZh/> ϭ ϬϰϬй ϵ ϯϲϰй ϭϴϰ ϳϰϰϵй Ϯϯ ϵϯϭй ϯϬ ϭϮϭϱй Ϯϰϳ

D/Dd ϯ ϭϯϬϰй ϭϮ ϱϮϭϳй Ϯ ϴϳϬй ϲ ϮϲϬϵй Ϯϯ

>^WEE^D/Zh ϰ ϭϮϭϮй ϮϮ ϲϲϲϳй ϳ ϮϭϮϭй ϯϯ

WZdh/^ ϭ ϱϮϲй ϰ ϮϭϬϱй ϭϬ ϱϮϲϯй ϭ ϱϮϲй ϯ ϭϱϳϵй ϭϵ

WzE/Z ϭ ϯϯϯй ϭ ϯϯϯй ϮϬ ϲϲϲϳй ϰ ϭϯϯϯй ϰ ϭϯϯϯй ϯϬ

WzZK>>^EWZKsE ϯ ϰϮϴϲй Ϯ Ϯϴϱϳй Ϯ Ϯϴϱϳй ϳ

Whz>Kh/Z ϭ ϭϰϮϵй ϲ ϴϱϳϭй ϳ

>Whz^/EdZWZ ϭ ϰϱϱй Ϯ ϵϬϵй ϭϭ ϱϬϬϬй Ϯ ϵϬϵй ϲ ϮϳϮϳй ϮϮ

ZK'E^ ϰ ϵϳϲй ϭϲ ϯϵϬϮй ϱ ϭϮϮϬй ϭϲ ϯϵϬϮй ϰϭ

>ZKYhΖEd,ZKE ϭ ϭϬϬϬϬй ϭ

ZKh^^d ϭϬ ϳϲϵϮй ϭ ϳϲϵй Ϯ ϭϱϯϴй ϭϯ

^/EdEdKE/E^hZzKE ϭ ϭϬϬϬϬй ϭ

^/EdEEd ϭ ϰϳϲй ϭϬ ϰϳϲϮй ϰ ϭϵϬϱй ϲ Ϯϴϱϳй Ϯϭ

^/Ed^ds:E^KE ϭ ϭϬϬϬϬй ϭ

^/EdDZ:hD'Z ϳ ϱϯϴϱй ϭ ϳϲϵй ϱ ϯϴϰϲй ϭϯ

^/EdWh>>hZE Ϯ ϭϬϬϬϬй Ϯ

^/D/EK>>KE'h ϭ ϲϲϳй ϭϬ ϲϲϲϳй Ϯ ϭϯϯϯй Ϯ ϭϯϯϯй ϭϱ

>d,K>KEd ϳ ϱϴϯϯй ϯ ϮϱϬϬй Ϯ ϭϲϲϳй ϭϮ

dZd^ ϱ ϭϱϲϯй ϭϱ ϰϲϴϴй ϰ ϭϮϱϬй ϴ ϮϱϬϬй ϯϮ

shsEZ'h^ ϯ ϮϳϮϳй ϰ ϯϲϯϲй ϰ ϯϲϯϲй ϭϭ

sE>>^ ϭ ϰϬϬй ϵ ϯϲϬϬй ϱ ϮϬϬϬй ϭϬ ϰϬϬϬй Ϯϱ

sEdZE ϭϲ ϳϲϭϵй Ϯ ϵϱϮй ϯ ϭϰϮϵй Ϯϭ

s/dZK>>^ ϭ ϯϯϯϯй ϭ ϯϯϯϯй ϭ ϯϯϯϯй ϯ

dŽƚĂƵǆ ϭϰ Ϭϴϭй ϭϮϴ ϳϰϭй ϭϬϴϳ ϲϮϵϭй ϭϱϮ ϴϴϬй ϯϰϳ ϮϬϬϴй ϭϳϮϴ

ŽŶĨŽŶĐƚŝŽŶŶĞŵĞŶƚdŽƚĂƵǆŽŵŵƵŶĞ

ďƐĞŶĐĞĚΖŝŶƐƚĂůůĂƚŝŽŶZŝƐƋƵĞƐĂŶŝƚĂŝƌĞĂǀĞĐŽďůŝŐĂƚŝŽŶĚĞƚƌĂǀĂƵǆ

ĚĂŶƐƵŶĚĠůĂŝĚĞϰĂŶƐ

EŽŶͲĐŽŶĨŽƌŵĞƐĂŶƐĚĂŶŐĞƌƉŽƵƌůĂƐĠĐƵƌŝƚĠ

ĚĞƐƉĞƌƐŽŶŶĞƐĠĨĂƵƚƐĚΖĞŶƚƌĞƚŝĞŶĞƚĚΖƵƐƵƌĞ

Mét

ropo

le A

ix-M

arse

ille-

Prov

ence

— 2

bis

qua

i d’A

renc

— 1

3002

MAR

SEIL

LE —

Cré

atio

n : D

GACR

EGE

— P

hoto

© D

R —

201

8 —

Ne

pas

jete

r sur

la vo

ie p

ubliq

ue

2018 rapport ANNUEL...(6 &203(7(1&(6 ($8 (7 $66$,1,66(0(17 / ( 6(59,&( 38%/,& '( / ¶ ($8 327$%/(/d...

Documents

Transcript of 2018 rapport ANNUEL...(6 &203(7(1&(6 ($8 (7 $66$,1,66(0(17 / ( 6(59,&( 38%/,& '( / ¶ ($8 327$%/(/d...