)UDQoDLV
,QIRUPDWLRQVSRUWDQWVXUODIRQFWLRQQDOLWp'9%
/¶XWLOLVDWLRQGHFHUpFHSWHXU'9%HVWLQGLTXpHXQLTXHPHQWGDQVOHSD\VSRXUOHTXHOLODpWpIDEULTXp
%LHQTXHFHUpFHSWHXU'9%VRLWFRQIRUPHDX[VSpFLILFDWLRQV'9%OHVSOXVUpFHQWHVDXPRPHQWGHVDIDEULFDWLRQ
QRXVQHVDXULRQVHQJDUDQWLUODFRPSDWLELOLWpDYHFOHVWUDQVPLVVLRQV'9%XOWpULHXUHVHQUDLVRQGHVFKDQJHPHQWV
VXVFHSWLEOHVG¶LQWHUYHQLUGDQVOHVVLJQDX[HWWHFKQRORJLHVGHGLIIXVLRQ
&HUWDLQHVIRQFWLRQVGXWpOpYLVHXUQXPpULTXHSHXYHQWQHSDVrWUHGLVSRQLEOHVGDQVWRXVOHVSD\V
1RXVQRXVHIIRUoRQVFKDTXHMRXUjDPpOLRUHUGDYDQWDJHODTXDOLWpGHQRVSURGXLWVSDUFRQVpTXHQWOHXUV
VSpFLILFDWLRQVSHXYHQWFKDQJHUVDQVSUpDYLV
3RXUVDYRLURDFKHWHUGHVDFFHVVRLUHVYHXLOOH]FRQWDFWHUOHPDJDVLQGDQVOHTXHOYRXVDYH]DFKHWpYRWUH
pTXLSHPHQW
0$18(/'(7902%,/(
$OOXPHUOD79YLDOHFkEOHGH9ROWV
%UDQFKH]OHFkEOHDOOXPHFLJDUHVXUODSULVHDOOXPHFLJDUHGHYRWUHYRLWXUH
%UDQFKH]O¶DXWUHF{WpGXFkEOHGH9ROWVVXUXQHSULVHGH&&VXUOHF{WpDUULqUHGXWpOpYLVHXU/H
7e02,1GHPLVHHQYHLOOHV¶DOOXPHUD
$SSX\H]VXUOHERXWRQ
9HLOOH
OHVERXWRQV
3URJUDPPH
RXVXUXQERXWRQQXPpULTXHGHODWpOpFRPPDQGH
RXDSSX\H]VXUOHPLOLHXGXFRPPXWDWHXUGXWpOpYLVHXU/HWpOpYLVHXUV¶DOOXPHUDSDUODVXLWH
$MXVWH] OD SRVLWLRQ GH O¶DQWHQQH SRXU REWHQLU XQH PHLOOHXUH UpFHSWLRQ RX UpLQVWDOOH] OHV FKDvQHV 79 VL
QpFHVVDLUH
eWHLQGUHOHWpOpYLVHXU
$SSX\H]VXUOHERXWRQ
9HLOOH
GHODWpOpFRPPDQGHRXDSSX\H]VXUODSDUWLHFHQWUDOHGXFRPPXWDWHXUGH
IRQFWLRQVLWXpVXUOHF{WpGXWpOpYLVHXUHWPDLQWHQH]OHHQIRQFpSHQGDQWTXHOTXHVVHFRQGHV$LQVLYRWUH
WpOpYLVHXUSDVVHHQPRGH9HLOOH
'pEUDQFKH]OHVFRQQHFWHXUVGHFkEOHHWOHVSULVHVGHFRXUDQW
$77(17,21(QWUpH9
V+
V+
V-
V-
,WDOLDQR
,QGLFH
,QIRUPD]LRQLVXOODVLFXUH]]D
,QGLFD]LRQLVXOSURGRWWR
,QIRUPD]LRQLSHUODWXWHODGHOODPELHQWH
&DUDWWHULVWLFKH
$FFHVVRULLQFOXVL
1RWLILFKHVWDQGE\
,QWHUUXWWRUH )XQ]LRQDPHQWR&RQWUROOR79
8WLOL]]DUHLOPHQXSULQFLSDOHGHO79
,QVWDOOD]LRQHGHOOHEDWWHULHQHOWHOHFRPDQGR
&ROOHJDPHQWR$OLPHQWD]LRQH
&ROOHJDPHQWRDQWHQQD
1RWLILFDGLOLFHQ]D
,QIRUPD]LRQLVXOORVPDOWLPHQWR
6SHFLILFKH
7HOHFRPDQGR
&ROOHJDPHQWL
$FFHQVLRQH6SHJQLPHQWR
3ULPDLQVWDOOD]LRQH
8WLOL]]DUHO¶RS]LRQHGHOODWDEHOODGL&DQDOL
6DWHOOLWDUL
5LSURGX]LRQHPXOWLPHGLDOHWUDPHLQJUHVVR86%
%URZVHUPXOWLPHGLDOH
)ROORZ0H79
&(&
0DQXDOH(OHWWURQLFR
,QGLFHPHQX,PSRVWD]LRQL
)XQ]LRQDPHQWR*HQHUDOHGHOOD79
8WLOL]]RGHOOHOHQFRFDQDOL
&RQILJXUD]LRQHGHOOHLPSRVWD]LRQLJHQLWRUL
*XLGDHOHWWURQLFDDLSURJUDPPL
6HUYL]LWHOHYLGHR
$JJLRUQDPHQWRVRIWZDUH
*XLGDDOODULVROX]LRQHGHLSUREOHPLHVXJJHULPHQWL
0RGDOLWjWLSLFDPRQLWRULQJUHVVR3&
&RPSDWLELOLWjVHJQDOH$9H+'0,
)RUPDWLGLILOHVXSSRUWDWLSHUODPRGDOLWj86%
)RUPDWLYLGHRFRPSDWLELOL
)RUPDWLLPPDJLQHFRPSDWLELOL
)RUPDWLDXGLRFRPSDWLELOL
)RUPDWLVRWWRWLWROLFRPSDWLELOL
5LVROX]LRQL'9,VXSSRUWDWH
&RQQHWWLYLWj
&ROOHJDPHQWRZLUHOHVV
$WWLYD:DNH21
'LVSOD\:LUHOHVV
&RQQHWWLYLWj5LVROX]LRQHGHLSUREOHPL
8VDUHLO6HUYL]LRGL5HWH&RQGLYLVLRQH$XGLR9LGHR
$SS
%URZVHU,QWHUQHW
%%79
6PDUW&HQWHU
$OH[D5HDG\
0RGDOLWj'9'
,QIRUPD]LRQLVXOODVLFXUH]]D
1RWHVXLGLVFKL
&RPHJXDUGDUHXQ'9'
7DVWLGHOSDQQHOORGLFRQWUROORGHO'9'
5LSURGX]LRQHJHQHUDOH
*XLGDDOODULVROX]LRQHGHLSUREOHPL'9'
&DUDWWHULVWLFKHWHFQLFKH
,QIRUPD]LRQLVXOODIXQ]LRQDOLWj'9%
,6758=,21,7902%,/(
