*$5$17,(
3RXUWRXWWUDYDLOGHJDUDQWLHVXSSRUWWHFKQLTXHRXLQIRUPDWLRQFRQWDFWHU
/D&URVVH7HFKQRORJ\
/RVH\%OYG6
/D&URVVH:,
3KRQH
)D[
6SULQJILHOG/DFURVVH&DQDGD
7KLPHQV5G
0RQWUHDO4XHEHF
+5&
&RXUULHO
VXSSRUW#ODFURVVHWHFKQRORJ\FRP
WUDYDX[VRXVJDUDQWLH
VDOHV#ODFURVVHWHFKQRORJ\FRP
LQIRUPDWLRQVXUG¶DXWUHVSURGXLWV
7RLOH
ZZZODFURVVHWHFKQRORJ\FRP
4XHVWLRQ",QVWUXFWLRQV"9LVLWHU
ZZZODFURVVHWHFKQRORJ\FRPLWF
7RXVGURLWVUpVHUYpV&HOLYUHWQHSHXWSDVrWUHUHSURGXLWVRXVDXFXQHIRUPH\FRPSULVH[WUDLWVQL
GXSOLTXpVRXWUDLWpVSDUSURFpGppOHFWURQLTXHPpFDQLTXHRXFKLPLTXHVDQVO¶DXWRULVDWLRQpFULWHGH
O¶pGLWHXU
&HOLYUHWSHXWFRQWHQLUGHVHUUHXUVRXIDXWHVG¶LPSUHVVLRQ/HVLQIRUPDWLRQVTX¶LOFRQWLHQWVRQWYpULILpHV
UpJXOLqUHPHQWHWFRUULJpHVQpFHVVDLUHPHQWGDQVO¶pGLWLRQVXLYDQWH1RXVGpFOLQRQVWRXWHUHVSRQVDELOLWp
SRXUWRXWGpIDXWWHFKQLTXHRXHUUHXUG¶LPSULPHULHRXOHXUVFRQVpTXHQFHV
7RXWHVOHVPDUTXHVGHIDEULTXHHWSDWHQWHVVRQWUHFRQQXHV
)&&,'2027;8,7&$pPHWWHXU
$9,65(/$7,)¬/$)&&
5DGLDWLRQGHIUpTXHQFHVUDGLR
/HVDQWHQQHVLQWHUQHVH[WHUQHVXWLOLVpHVSRXUFHWpPHWWHXUPRELOHGRLYHQWSHUPHWWUHXQH
GLVWDQFHGHVpFXULWpG¶DXPRLQVFPSRGHWRXWLQGLYLGXHWQHGRLYHQWSDVrWUHLQVWDOOpHVj
SUR[LPLWpRXIRQFWLRQQHUFRQMRLQWHPHQWDYHFXQHDXWUHDQWHQQHRXXQDXWUHpPHWWHXU
'pFODUDWLRQHQYHUWXGHODSDUWLHGHVUqJOHVGHOD)&&
&HWDSSDUHLOVDWLVIDLWDX[GLVSRVLWLRQVGHODSDUWLHGHVUqJOHVGHOD)&&6RQIRQFWLRQQHPHQW
HVWDVVXMHWWLDX[GHX[FRQGLWLRQVVXLYDQWHVOHGLVSRVLWLIQHGRLWSDVRFFDVLRQQHUGHEURXLOODJH
SUpMXGLFLDEOHHWO¶XWLOLVDWHXUGXGLVSRVLWLIGRLWrWUHSUrWjDFFHSWHUWRXWEURXLOODJHUHoXPrPHVL
FHEURXLOODJHHVWVXVFHSWLEOHGHFRPSURPHWWUHOHIRQFWLRQQHPHQWGXGLVSRVLWLI
'pFODUDWLRQHQYHUWXGHODSDUWLHGHVUqJOHVGHOD)&&
/HVPRGLILFDWLRQVQRQH[SUHVVpPHQWDXWRULVpHVSDUFHWWHHQWUHSULVHSHXYHQWHQWUDvQHUO¶DQQXODWLRQ
GXGURLWG¶XWLOLVDWLRQGHFHWDSSDUHLO
'pFODUDWLRQHQYHUWXGHODSDUWLHGHVUqJOHVGHOD)&&
127(FHGLVSRVLWLIDpWpWHVWpHWGpFODUpFRQIRUPHDX[OLPLWHVpWDEOLHVSRXUXQDSSDUHLO
QXPpULTXHGHFODVVH%VHORQODSDUWLHGHVUqJOHVGHOD)&&&HVOLPLWHVVHUYHQWjDVVXUHUXQH
SURWHFWLRQUDLVRQQDEOHFRQWUHOHEURXLOODJHSUpMXGLFLDEOHGDQVXQHLQVWDOODWLRQUpVLGHQWLHOOH&HW
pTXLSHPHQWSURGXLWXWLOLVHHWSHXWUD\RQQHUGHO¶pQHUJLHUDGLRIUpTXHQFHHWV¶LOQ¶HVWSDVLQVWDOOpHW
XWLOLVpFRQIRUPpPHQWDX[LQVWUXFWLRQVSHXWFDXVHUXQEURXLOODJHSUpMXGLFLDEOHDX[FRPPXQLFDWLRQV
UDGLR,OQ¶HVWWRXWHIRLVSDVJDUDQWLTX¶DXFXQEURXLOODJHQHVHSURGXLUDSRXUXQHLQVWDOODWLRQ
SDUWLFXOLqUH6LFHWpTXLSHPHQWFDXVHXQEURXLOODJHSUpMXGLFLDEOHjODUpFHSWLRQUDGLRRX
WpOpYLVXHOOHFHTXLSHXWrWUHGpWHUPLQpHQpWHLJQDQWO¶pTXLSHPHQWHWHQOHUDOOXPDQWO¶XWLOLVDWHXU
HVWLQYLWpjWHQWHUG¶pOLPLQHUOHEURXLOODJHSDUO¶XQHRXSOXVLHXUVGHVPpWKRGHVVXLYDQWHV
x
UpRULHQWHURXGpSODFHUO¶DQWHQQHGHUpFHSWLRQ
x
DXJPHQWHUODGLVWDQFHVpSDUDQWO¶pTXLSHPHQWHWOHUpFHSWHXU
x
EUDQFKHUO¶pTXLSHPHQWVXUXQHSULVHG¶XQFLUFXLWGLIIpUHQWGHFHOXLVXUOHTXHOOHUpFHSWHXUHVW
EUDQFKp
x
FRQVXOWHUOHUHYHQGHXURXXQUpSDUDWHXUGHUDGLRHWWpOpYLVLRQH[SpULPHQWp
&HGLVSRVLWLIGHUDGLRFRPPXQLFDWLRQGHFDWpJRULH,,UHVSHFWHODQRUPH&15G¶,QGXVWULH
&DQDGD
(-,1/
3ULQWHGLQ&KLQD,PSULPpHQ&KLQH
