Professional Documents
Culture Documents
&RPPXQLFDWLRQV5DGLR
7DEOHGHVPDWLqUHV
1RWHVSUpSDUDWRLUHVjO¶DWWHQWLRQGHVO¶LQVWUXFWHXUV
1RWHVGHODVHVVLRQ
'pILQLWLRQV«««««««««««««««««««««««««««««
3URFpGXUHV«««««««««««««««««««««««
(YDOXDWLRQGHVUpVXOWDWVG¶DSSUHQWLVVDJH
$FWLYLWpG¶DSSUHQWLVVDJHIDFXOWDWLYH'LIILFXOWpVGHVFRPPXQLFDWLRQVUDGLR«
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
&RPPXQLFDWLRQV5DGLR§
1RWHVGHSUpSDUDWLRQSRXUOHVLQVWUXFWHXUV
&RQWH[WH
/D SOXSDUW GHV RIILFLHUV GH SROLFH VRQW GHV XWLOLVDWHXUV G¶pTXLSHPHQWV UDGLR
GDQV OHXUV SD\V UHVSHFWLIV HW LOV FRQQDLVVHQW GRQF OHV SURFpGXUHV UDGLR
7RXWHIRLV GHV GLIIpUHQFHV H[LVWHQW HQ UDLVRQ GH OD GLYHUVLWp GHV RULJLQHV
QDWLRQDOHV GHV RIILFLHUV GH SROLFH GHV 1DWLRQV 8QLHV WUDYDLOODQW GDQV XQH
RSpUDWLRQ GH PDLQWLHQ GH OD SDL[ &¶HVW SRXUTXRL LO HVW QpFHVVDLUH GH
QRUPDOLVHU OHV SURFpGXUHV UDGLR SRXU DPpOLRUHU OH IOX[ GH FRPPXQLFDWLRQ HW
VXUPRQWHUOHVEDUULqUHVOLQJXLVWLTXHVHWFHDILQG¶pYLWHUOHVPDOHQWHQGXV3RXU
FHWWH UDLVRQ GHV SURFpGXUHV HW GHV SURWRFROHV UDGLR FRQFLV HW FRKpUHQWV RQW
XQHLPSRUWDQFHYLWDOHSRXUYHLOOHUjFHTXHOHVPHVVDJHVVRLHQWUHOD\pVDYHF
SUpFLVLRQ SRXU TX¶LOV FRQWULEXHQW ILQDOHPHQW DX VXFFqV G¶XQH PLVVLRQ (Q
UHYDQFKH XQH XWLOLVDWLRQ LQDGpTXDWH GHV SURFpGXUHV UDGLR SHXW PHWWUH HQ
GDQJHUOD VpFXULWp SHUVRQQHOLQVWDOODWLRQ SRSXODWLRQORFDOH HW HQWUDvQHUGHV
SUREOqPHV PDMHXUV \ FRPSULV GHV PRUWV HW O¶pFKHF GH OD PLVVLRQ &HWWH
VHVVLRQFRXYULUDOHVpOpPHQWVSULQFLSDX[UHTXLVSRXUO¶DSSOLFDWLRQGXSURWRFROH
HWGHVSURFpGXUHVUDGLRGHV1DWLRQV8QLHV
%XW
$PpOLRUHUODFRQQDLVVDQFHJpQpUDOHGHVFRPPXQLFDWLRQVUDGLRHQXWLOLVDQW
• OHVSURFpGXUHVUDGLRDSSURSULpHV
• OHVWHUPHVGHSURFpGXUH
• O¶DOSKDEHWSKRQpWLTXHLQWHUQDWLRQDO
5pVXOWDWVGHO¶DSSUHQWLVVDJH
$XWHUPHGHFHPRGXOHOHVSDUWLFLSDQWVVHURQWjPrPHGH
• GpILQLUODFRPPXQLFDWLRQ
• GUHVVHUODOLVWHGHVGLIIpUHQWHVSDUWLHVG¶XQHUDGLR
• DSSOLTXHUOHVWHUPHVGHSURFpGXUHHWO¶DOSKDEHWSKRQpWLTXHLQWHUQDWLRQDO
• XWLOLVHUOHVSURFpGXUHVUDGLRDSSURSULpHV
6pTXHQFHGHO¶DSSUHQWLVVDJH
2Q VXJJqUH TXH OD GRFXPHQWDWLRQ FRQWHQXH GDQV FH PRGXOH VRLW GLVSHQVpH
VXU GHX[ VHVVLRQV /D SUHPLqUH SDUWLH GX PRGXOH VHUD FRQVLVWHUD HQ XQH
SUpVHQWDWLRQVXLYLHG¶XQHGLVFXVVLRQLQWHUDFWLYHpWD\pHVSDUGHVSUpVHQWDWLRQV
SRZHUSRLQW
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
§ &RPPXQLFDWLRQV5DGLR
/DVHFRQGHSDUWLHGXPRGXOHVHFRPSRVHG¶H[HUFLFHVSUDWLTXHV
)LQDOHPHQWOHVFRPPXQLFDWLRQVUDGLRGHYURQWIDLUHSDUWLHLQWpJUDQWHGH
O¶H[HUFLFHVXUOHWHUUDLQ
'XUpH
'XUpHPLQLPDOH &RXUVSUpVHQWDWLRQ 4XHVWLRQVeYDOXDWLRQ $FWLYLWpVGHOD
G¶XQHVHVVLRQ VHVVLRQ
PLQXWHV PLQ PLQ VLQpFHVVDLUH
0pWKRGRORJLH
&H PRGXOHIRXUQLWXQHFRQQDLVVDQFHpOpPHQWDLUHDX[SDUWLFLSDQWVHQPDWLqUH
GH FRPPXQLFDWLRQV UDGLR HW FRQWLHQW XQH YDULpWp G¶DFWLYLWpV G¶DSSUHQWLVVDJH
VXJJpUpHV GDQV OH EXW G¶LPSOLTXHU OHV DSSUHQDQWV DGXOWHV 'DQV OH FDGUH GX
WHPSV DOORXp OHV IDFLOLWDWHXUV SRXUURQW XWLOLVHU WRXWHV OHV DFWLYLWpV
G¶DSSUHQWLVVDJH TX¶LOV MXJHURQW QpFHVVDLUHV HQ YHLOODQW j OHV DGDSWHU OHXU
DXGLHQFH /HV SDUWLFLSDQWV GHYURQW V¶LPSOLTXHU WRWDOHPHQW GDQV OH SURFHVVXV
G¶DSSUHQWLVVDJH SDU OH ELDLV G¶H[HUFLFHV SUDWLTXHV GH VpDQFHV GH UHPXH
PpQLQJHV GH GLVFXVVLRQ VXU GHV pWXGHV GHFDV GH WUDYDLO HQ SHWLWV JURXSHV
VXUGHVWkFKHVVSpFLILTXHVHWF8QH[HUFLFHSUDWLTXHHVWHVVHQWLHOSRXUXQH
PHLOOHXUHFRPSUpKHQVLRQGXVXMHW
/H IDFLOLWDWHXU GHYUD LQIRUPHU OHV SDUWLFLSDQWV GX FRQWHQX GX IRUPDW HW GH OD
GXUpH GHV VHVVLRQV 6DFKDQW j TXRL V¶DWWHQGUH OHV SDUWLFLSDQWV SRXUURQW
DPpOLRUHU OHXU FDSDFLWp j VH FRQFHQWUHU VXU OH VXMHW HW WLUHU DLQVL XQ PHLOOHXU
SURILWGHODVHVVLRQ
• /HVGpILQLWLRQV
• /HVGLIIpUHQFHVHQWUHOD9+)7UqV+DXWH)UpTXHQFHHWO¶8+)8OWUD
+DXWH)UpTXHQFH
• /¶DOSKDEHWSKRQpWLTXHLQWHUQDWLRQDOOHVWHUPHVGHSURFpGXUHHWOHV
SURFpGXUHVUDGLRpOpPHQWDLUHV
• ,QVWUXFWLRQVJpQpUDOHVHQPDWLqUHGHFRPPXQLFDWLRQUDGLR
• ([HUFLFHVHWV\QWKqVH
• eYDOXDWLRQGHVUpVXOWDWVG¶DSSUHQWLVVDJH
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
&RPPXQLFDWLRQV5DGLR§
9HXLOOH]QRWHU/¶LQVWLWXWLRQGHIRUPDWLRQDWRXWHODWLWXGHSRXUGpFLGHUVLOH
TXHVWLRQQDLUH G¶pYDOXDWLRQ VH IHUD SDU OH ELDLV G¶XQH VHVVLRQ LQIRUPHOOH GH
TXHVWLRQVUpSRQVHV RUJDQLVpH DX VHLQ GHV JURXSHV RX G¶XQH LQWHUURJDWLRQ
pFULWH UDSLGH VRXV IRUPH GH TXL] 'DQV WRXV OHV FDVLO HVW UHFRPPDQGp GH
IRXUQLU j O¶LVVXH GH O¶pYDOXDWLRQ OHV ERQQHV UpSRQVHV DILQ GH SHUPHWWUH DX[
SDUWLFLSDQWVGHUHWHQLUOHVLQIRUPDWLRQVFOpV
/HVLQVWUXFWHXUVVRQWHQFRXUDJpVjGRQQHUGHVH[HPSOHVFRPSOpPHQWDLUHVGH
PrPH TXH GHV LQIRUPDWLRQV VSpFLILTXHV DX[ PLVVLRQV R OHV SDUWLFLSDQWV
VHURQWGpSOR\pVGDQVODPHVXUHRFHVLQIRUPDWLRQVVRQWFRQQXHV
3URILOGHVLQVWUXFWHXUV
,O HVW SUpIpUDEOH TXH FH PRGXOH VRLW SUpVHQWp SDU XQ LQVWUXFWHXU D\DQW
O¶H[SpULHQFH GHV DFWLYLWpV GH PHQWRUDW HW GH FRQVHLO H[SpULHQFH TX¶LO RX HOOH
SRXUUDLWIDLUHSDUWDJHUDXJURXSH3RXUODSDUWLHSUDWLTXHRQUHFRPPDQGHXQ
UDWLRG¶XQIDFLOLWDWHXUSRXUTXDWUHSDUWLFLSDQWV
3UpSDUDWLRQGHO¶LQVWUXFWHXU
/HFWXUHVUHTXLVHV
• ©/HPDQXHOGHOD3ROLFHGHV1DWLRQV8QLHVª'LYLVLRQGHODSROLFH
'pSDUWHPHQWGHVRSpUDWLRQVGHPDLQWLHQGHODSDL[GHV1DWLRQV8QLHV
81'3.2
• /H%XUHDXGHODFRRUGLQDWLRQGHVDIIDLUHVKXPDQLWDLUHV2&+$
3URFpGXUHVUDGLRVWDQGDUGVYRLUVXUOHVLWHVXLYDQW
RFKDRQOLQHXQRUJ2FKD/LQN&OLFNDVS["OLQN RFKD DPS'RF,G
3UpSDUDWLRQJpQpUDOH
eTXLSHPHQWV
2UGLQDWHXUHWSUpVHQWDWLRQV3RZHU3RLQW
3URMHFWHXUHWpFUDQ
7DEOHDXGHFRQIpUHQFH
'RFXPHQWDWLRQ
/HVSRO\FRSLpVjGLVWULEXHU«HWF
eTXLSHPHQWUDGLR
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
§ &RPPXQLFDWLRQV5DGLR
/pJHQGHGHVV\PEROHV
F 1RWH j O
DWWHQWLRQ GH O
LQVWUXFWHXU LQIRUPDWLRQV FRQWH[WXHOOHV j
SUHQGUHHQFRQVLGpUDWLRQ
[ 3RLQWV j pYRTXHU VDYRLU OHV SRLQWV HVVHQWLHOV j DERUGHU VXU OH VXMHW
/
LQVWUXFWHXUYHLOOHUDjXWLOLVHUVHVSURSUHVPRWVSRXUSUpVHQWHUFHVSRLQWV
DXOLHXGHOHVOLUH
[ 3RLQW VSpFLILTXH j OD PLVVLRQ j VDYRLU XQH SDUWLH GH OD VHVVLRQ TXL
EpQpILFLHUDLWGHVLQIRUPDWLRQVVSpFLILTXHVjODPLVVLRQ
([HPSOHKLVWRLUHVLOOXVWUDQWXQSRLQWRXXQPHVVDJHFOp
¥ 3RO\FRSLHVjGLVWULEXHUFHVLJQHLQGLTXHTX¶HOOHVGRLYHQWrWUHGLVWULEXpHV
DX[SDUWLFLSDQWV
¸ )LOPILOPVXJJpUpFRPPHDFWLYLWpFOpRXIDFXOWDWLYH
$FWLYLWpG¶DSSUHQWLVVDJHFOpDFWLYLWpGRQWO
LQWpJUDWLRQGDQVODVHVVLRQHVW
IRUWHPHQWUHFRPPDQGpH
Ñ 5pVXPpGHVSRLQWVFOpVGHVPHVVDJHVFOpVGHYDQWrWUHUpSpWpVjODILQ
GHODVHVVLRQ8QHDXWUHVROXWLRQFRQVLVWHSRXUO
LQVWUXFWHXUjGHPDQGHU
DX[ SDUWLFLSDQWV TXHOV VRQWOHV SULQFLSDX[ PHVVDJHV TX
LOV UHWLHQQHQW GH
OD VHVVLRQ /HV LQVWUXFWHXUV SHXYHQW DORUV FRPEOHU OHV pYHQWXHOOHV
RPLVVLRQV
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
&RPPXQLFDWLRQV5DGLR§
1RWHVGHODVHVVLRQ
&RPPXQLFDWLRQ5DGLR 'LDSRVLWLYH
'HVSURFpGXUHVHWGHVSURWRFROHVUDGLRFRKpUHQWVVRQW
YLWDX[SRXU
• UHOD\HUOHVPHVVDJHVDYHFSUpFLVLRQ
• DVVXUHUOHVXFFqVGHODPLVVLRQ
F1RWH j O
DWWHQWLRQ GH O¶LQVWUXFWHXU ([SOLTXHU EULqYHPHQW DX[ SDUWLFLSDQWV
OHV UDLVRQV SRXU OHVTXHOOHV LOV GRLYHQW SRUWHU XQH DWWHQWLRQ SDUWLFXOLqUH j FH
PRGXOH6HUpIpUHUDX&RQWH[WHGDQVOHVQRWHVSUpSDUDWRLUHVjO¶DWWHQWLRQGH
O¶LQVWUXFWHXU
%XW 'LDSRVLWLYH
$PpOLRUHUODFRQQDLVVDQFHJpQpUDOHGHVFRPPXQLFDWLRQV
UDGLRHQXWLOLVDQW
• OHVSURFpGXUHVUDGLRDSSURSULpHV
• OHVWHUPHVGHSURFpGXUH
• O¶DOSKDEHWSKRQpWLTXHLQWHUQDWLRQDO
5pVXOWDWVGHO¶DSSUHQWLVVDJH 'LDSRVLWLYH
$O¶LVVXHGHFHPRGXOHOHVSDUWLFLSDQWVVHURQWjPrPH
GH
• GpILQLUODFRPPXQLFDWLRQ
• GUHVVHUODOLVWHGHVGLIIpUHQWHVSDUWLHVG¶XQHUDGLR
• DSSOLTXHUOHVWHUPHVGHSURFpGXUHHWO¶DOSKDEHW
SKRQpWLTXHLQWHUQDWLRQDO
• XWLOLVHUOHVSURFpGXUHVUDGLRDSSURSULpHV
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
§ &RPPXQLFDWLRQV5DGLR
3ODQGHODSUpVHQWDWLRQ 'LDSRVLWLYH
• 'pILQLWLRQV
• /HVGLIIpUHQFHVHQWUHOD9+)HWO¶8+)
• /¶DOSKDEHWSKRQpWLTXHLQWHUQDWLRQDOOHVWHUPHVGH
SURFpGXUHHWOHVSURFpGXUHVUDGLRpOpPHQWDLUHV
• ,QVWUXFWLRQVJpQpUDOHVHQPDWLqUHGHFRPPXQLFDWLRQ
UDGLR
• 6\QWKqVHHWH[HUFLFHV
• eYDOXDWLRQGHVUpVXOWDWVG¶DSSUHQWLVVDJH
F1RWHjO
DWWHQWLRQGHO
LQVWUXFWHXU3RXUPRQWUHUDX[SDUWLFLSDQWVOHVGpILV
TXHSRVHXQHFRPPXQLFDWLRQGDQVOHVUqJOHVIDLUHO¶H[HUFLFHVXLYDQW
'HPDQGHU DX[ SDUWLFLSDQWV GH V¶DVVHRLU HQ IRUPDQW XQ FHUFOH eFULUH OD
SKUDVH VXLYDQWH ©8WLOLVDWLRQ GHV WUDQVPLVVLRQV UDGLR GDQV OD ]RQH GH OD
PLVVLRQªVXUXQPRUFHDXGHSDSLHUHWOHGRQQHUjO¶XQGHVSDUWLFLSDQWV/XL
GHPDQGHU GH PXUPXUHU FHWWH SKUDVH DX VWDJLDLUH DVVLV j VHV F{WpV /D
SKUDVHGHYUDrWUHWUDQVIpUpHSDUO¶HQWUHPLVHGHWRXVOHVpWXGLDQWV/HGHUQLHU
SDUWLFLSDQWHVWVXSSRVppFULUHODWUDQVPLVVLRQILQDOHVXUXQWDEOHDXEODQF
,QYLWHU OHV SDUWLFLSDQWV j SODQFKHU VXU OHV GpILV HVVHQWLHOV TXL VH SRVHQW
TXDQGRQFRPPXQLTXHGDQVXQHODQJXHpWUDQJqUH
/H EXW GH WRXWH FRPPXQLFDWLRQ HVW GH WUDQVPHWWUH XQ RX GHV PHVVDJHV
/¶HIILFDFLWp HVW GpWHUPLQpH SDU OD FRPSUpKHQVLRQ FRPPXQH GH FHV
PHVVDJHVjODIRLVSDUO¶pPHWWHXUHWOHUpFHSWHXU
F 5pVXOWDWVG¶DSSUHQWLVVDJHUHFKHUFKpV
• OHSUREOqPHSRVpSDUOHEUXLWDPELDQW
• OHSUREOqPHSRVpSDUOHVDFFHQWV
• OHSUREOqPHSRVpSDUXQPDQTXHGHFODUWp
• OHSUREOqPHSRVpSDUOHVPDOHQWHQGXV
• OHVDXWUHVSUREOqPHVSRVpV
'pILQLWLRQV 'LDSRVLWLYH
• /DFRPPXQLFDWLRQ
• /HVFRPPXQLFDWLRQVUDGLR
F1RWH j O
DWWHQWLRQ GH O
LQVWUXFWHXU ,QWHUURJHU OHV SDUWLFLSDQWV VXU OHXU
FRPSUpKHQVLRQGHODFRPPXQLFDWLRQHWGHVFRPPXQLFDWLRQVUDGLR
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
&RPPXQLFDWLRQV5DGLR§
F 5pVXOWDWVG¶DSSUHQWLVVDJHUHFKHUFKpV
/DFRPPXQLFDWLRQ
• ,OV¶DJLWG¶XQSURFHVVXVSDUOHTXHOGHVLQIRUPDWLRQVVRQWpFKDQJpHV
HQWUHLQGLYLGXVSDUOHELDLVG¶XQV\VWqPHFRPPXQGHV\PEROHVGH
VLJQHVRXGHFRPSRUWHPHQWV
• ,OV¶DJLWG¶XQHWHFKQLTXHSRXUH[SULPHUGHVLGpHVDYHFHIILFDFLWp
FRPPHODSDUROH
KWWSZZZPHUULDPZHEVWHUFRPGLFWLRQDU\FRPPXQLFDWLRQ
/HVFRPPXQLFDWLRQVUDGLR
• ,OV¶DJLWG¶XQWHUPHXWLOLVpSRXUGpFULUHOHWUDQVIHUWG¶LQIRUPDWLRQHQWUH
GHX[RXSOXVLHXUVSRLQWVDXPR\HQG¶XQHUDGLRRXG¶RQGHV
pOHFWURPDJQpWLTXHV
ZZZVFLHQFHOREE\FRPGLFWLRQDU\UKWPO
• /DUDGLRGpVLJQHODWUDQVPLVVLRQGHVLJQDX[SDUPRGXODWLRQG¶RQGHV
pOHFWURPDJQpWLTXHVjGHVIUpTXHQFHVLQIpULHXUHVDXVSHFWUHYLVLEOH
HQZLNLSHGLDRUJZLNL5DGLRFRPPXQLFDWLRQ
eTXLSHPHQWVUDGLRFRPPXQpPHQWXWLOLVpVSDUOHV1DWLRQV 'LDSRVLWLYH
8QLHV
• OHVUDGLRVHQ9+)
• OHVUDGLRVHQ8+)
• OHVWpOpSKRQHVVDWHOOLWDLUHV
[ eTXLSHPHQWVUDGLRFRPPXQpPHQWXWLOLVpVSDUOHV1DWLRQV8QLHV
• OHVUDGLRV9+)+DELWXHOOHPHQWXQHUDGLR9+)VHSUpVHQWHVRXVOD
IRUPHG¶XQFRPELQpHWHVWO¶pTXLSHPHQWOHSOXVFRPPXQpPHQW
XWLOLVpGDQVOD]RQHGHPLVVLRQ&HWpTXLSHPHQWDXQHSRUWpH
PD[LPDOHGHNP
• OHVUDGLRV8+)+DELWXHOOHPHQWHOOHVpTXLSHQWOHVYpKLFXOHVDLQVL
TXHOHFHQWUHGHWpOpFRPPXQLFDWLRQGHV1DWLRQV8QLHVDYHFXQH
SRUWpHSOXVJUDQGHMXVTX¶jNP
• OHVWpOpSKRQHVVDWHOOLWDLUHV,OVVRQWWUqVSHXUpSDQGXVGDQVOD]RQH
GHPLVVLRQHVVHQWLHOOHPHQWHQUDLVRQGXFRWG¶XQWHOpTXLSHPHQW
,OIDXWVRXOLJQHUO¶LPSRUWDQFHGHVFRPPXQLFDWLRQVUDGLR
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
§ &RPPXQLFDWLRQV5DGLR
• 6RXYHQWODUDGLRFRQVWLWXHOHVHXOPR\HQGHFRPPXQLFDWLRQDYHFOH
4*GHODPLVVLRQHWOHVDXWUHVFROOqJXHV
• ,OV¶DJLWG¶XQPR\HQGHWUDQVPLVVLRQDXWRQRPHSRXUWUDQVIpUHU
UDSLGHPHQWGHVLQIRUPDWLRQV
• (QFDVG¶XUJHQFHRXG¶LQFLGHQWVODUDGLRHVWEHDXFRXSSOXV
SHUIRUPDQWHTXHOHVWpOpSKRQHV
• 2QSHXWLQIRUPHUXQJURXSHGHJHQVLPPpGLDWHPHQW
9XHG¶HQVHPEOHGHODUDGLR 'LDSRVLWLYH
F1RWHjO
DWWHQWLRQGHO
LQVWUXFWHXU$ERUGHUWRXWHVOHVSDUWLHVFRQVWLWXDQWOD
UDGLR DYHF OHV SDUWLFLSDQWV /¶pTXLSHPHQW XWLOLVp HQ UpIpUHQFH HVW OH WDONLH
ZDONLH0RWRUROD*3
[ )RQFWLRQQHPHQWHWIRQFWLRQVGHFRQWU{OH
&RPPDQGHVGHODUDGLR
• %RXWRQWRXUQDQWXWLOLVpSRXUVpOHFWLRQQHUOHFDQDOHWFRPPHPHQX
GpURXODQWSRXUGLYHUVHVIRQFWLRQV
• %RXWRQ0DUFKH$UUrW5pJODJHGXYROXPHXWLOLVHUSRXUPHWWUHHQ
PDUFKHRXDUUrWHUODUDGLRHWUpJOHUOHYROXPH
• %RXWRQODWpUDOQSURJUDPPDEOHUHFRPPDQGpFRPPHERXWRQ
SRXUVXUYHLOOHUDQQXOHUOHVDSSHOV
• 3RXVVRLUpPLVVLRQUpFHSWLRQSUHVVHUVXUOHERXWRQHWOHPDLQWHQLU
HQIRQFpSRXUSDUOHUOHUHOkFKHUSRXUpFRXWHU
• %RXWRQODWpUDOQSURJUDPPDEOH
• %RXWRQODWpUDOQSURJUDPPDEOH
• %RXWRQVXSpULHXUSURJUDPPDEOHUHFRPPDQGpFRPPHERXWRQ
G¶XUJHQFH
• ,QGLFDWHXU/('
YHUWPLVHVRXVWHQVLRQHIIHFWXpH
YHUWFOLJQRWDQWH[SORUDWLRQUDGLR
URXJHWUDQVPLVVLRQUDGLR
URXJHFOLJQRWDQWFDQDORFFXSpHQUpFHSWLRQ
MDXQHUDGLRDSSHOpH
MDXQHFOLJQRWDQWDYHUWLVVHPHQWG¶DSSHOUDGLR
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
&RPPXQLFDWLRQV5DGLR§
URXJHFOLJQRWDQWEDWWHULHVIDLEOHVORUVGHODWUDQVPLVVLRQ
• 0LFURSKRQH
• $IILFKDJH/('OLJQH
• 7RXFKHVPHQX
• $QWHQQH
• &RQQHFWHXUDX[LOLDLUHSHUPHWGHFRQQHFWHUGHVpFRXWHXUVXQKDXW
SDUOHXUjGLVWDQFHGHVPLFURSKRQHVDLQVLTXHG¶DXWUHVDFFHVVRLUHV
5HPHWWUHHQSODFHOHFDSRWLQWpJUpGHSURWHFWLRQFRQWUHODSRXVVLqUH
TXDQGRQQ¶XWLOLVHSDVOHFRQQHFWHXU
• %RXWRQVSURJUDPPDEOHV%HDXFRXSGHVERXWRQVSHXYHQWrWUH
SURJUDPPpVHQXWLOLVDQWOHORJLFLHO&36SRXUDFWLYHUOHVGLIIpUHQWHV
IRQFWLRQVGHODUDGLR/HWDEOHDXVXLYDQWPRQWUHOHVIRQFWLRQVTXL
SHXYHQWrWUHDWWULEXpHVDXERXWRQVXSpULHXUHWDX[ERXWRQVODWpUDX[
HW1RWHjO¶DWWHQWLRQGHO¶LQVWUXFWHXU
'HVSURFpGXUHVVWDQGDUGLVpHV 'LDSRVLWLYH
• O¶DOSKDEHWSKRQpWLTXHLQWHUQDWLRQDO
• OHVWHUPHVGHSURFpGXUH
F1RWH j O
DWWHQWLRQGH O
LQVWUXFWHXU 3RXU OD SOXSDUW GHVRIILFLHUV GH SROLFH
GpSOR\pV GDQV XQH PLVVLRQ GH PDLQWLHQ GH OD SDL[ O¶DQJODLV HVW XQH
GHX[LqPH ODQJXH VL ELHQ TXH WDQW O¶XWLOLVDWLRQ GH O¶DOSKDEHW SKRQpWLTXH
LQWHUQDWLRQDO TXH GHV WHUPHV GH SURFpGXUH FRQWULEXH j DPpOLRUHU OHV
FRPPXQLFDWLRQV
8Q H[HPSODLUH GH O¶DOSKDEHW SKRQpWLTXH LQWHUQDWLRQDO DLQVL TX¶XQH OLVWH GHV
WHUPHV GH SURFpGXUH OHV SOXV XVLWpV GHYURQW rWUH UHPLV DX[ SDUWLFLSDQWV
YRXVWURXYHUH]OHVSRO\FRSLpVGDQVODGRFXPHQWDWLRQGHUpIpUHQFH
• 'HPDQGHUDX[SDUWLFLSDQWVG¶pSHOHUOHXUQRPRXGHVWRSRQ\PHVHQ
XWLOLVDQWO¶DOSKDEHWSKRQpWLTXHLQWHUQDWLRQDO
• 0RQWUHUGHVWHUPHVGHSURFpGXUHDX[SDUWLFLSDQWVHWOHXUGHPDQGHU
G¶HQGRQQHUODVLJQLILFDWLRQ
6HSUpSDUHUSRXUHIIHFWXHUXQHWUDQVPLVVLRQ 'LDSRVLWLYH
• 0HWWUHOHFRPELQpHQPDUFKH
• 7UDQVPLVVLRQGHV©,QVWUXFWLRQVJpQpUDOHVª
• 3URFpGXUHVUDGLRpOpPHQWDLUHV
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
§ &RPPXQLFDWLRQV5DGLR
F1RWH j O
DWWHQWLRQ GH O
LQVWUXFWHXU ,QYLWHU OHV SDUWLFLSDQWV j SODQFKHU VXU
OHVSURFpGXUHVSDUUDSSRUWDX[GLIIpUHQWVSRLQWVILJXUDQWVXUOHJUDSKLTXHFL
GHVVXV
F 5pVXOWDWVG¶DSSUHQWLVVDJHUHFKHUFKpV
0HWWUHOHFRPELQpHQPDUFKH
• 6¶DVVXUHUTXHODEDWWHULHVRLWVXIILVDPPHQWFKDUJpHHWTX¶HOOHVRLW
ELHQFRQQHFWpHDXSRVWHUDGLR
• 9pULILHUTXHO¶DQWHQQHVRLWFRUUHFWHPHQWIL[pHHWTXHWRXVOHVFkEOHV
VRLHQWFRUUHFWHPHQWHWVROLGHPHQWFRQQHFWpVDXSRVWHUDGLR
• &RQQHFWHUOHVDFFHVVRLUHVDXGLRHWYpULILHUOHERQIRQFWLRQQHPHQW
GHVFRPPXWDWHXUVDSSHODQWOHVGLIIpUHQWHVIRQFWLRQV
7UDQVPLVVLRQVGHV©,QVWUXFWLRQV*pQpUDOHVª
• 'pFLGH]G¶DYDQFHFHTXHYRXVDOOH]GLUHGHPDQLqUHjrWUHFODLUHW
FRQFLV
• 9HLOOH]jFHTXHSHUVRQQHG¶DXWUHQHSDUOHVXUOHUpVHDXDXPRPHQW
RYRXVFRPPHQFH]jSDUOHU
• 5DSSHOH]YRXVGHGLYLVHUYRWUHPHVVDJHHQSKUDVHVTXLDLHQWXQH
VLJQLILFDWLRQGHIDLUHGHVSDXVHVHWGHSDUOHUHQJDUGDQWXQU\WKPH
QDWXUHO
• eYLWH]OHVDSSHOVH[FHVVLIVHWOHVWUDQVPLVVLRQVQRQRIILFLHOOHV
• 8WLOLVH]XQHSURQRQFLDWLRQQRUPDOHDFFHQWXHUVXIILVDPPHQWOHV
YR\HOOHVpYLWHUOHVWRQVKDXWSHUFKpVSDUOHUG¶XQHYRL[PRGpUpPHQW
IRUWHVDQVFULHU
• 0DLQWHQH]OHPLFURSKRQHjXQHGLVWDQFHGHFPGHYRVOqYUHVHW
• 3URWpJH]YRWUHPLFURSKRQHFRQWUHOHVEUXLWVGHIRQG
• eSHOH]SKRQpWLTXHPHQWOHVSDWURQ\PHVHWOHVWRSRQ\PHV
1¶28%/,(=-$0$,6 'LDSRVLWLYH
©85*(1&(85*(1&(85*(1&(ª
F1RWHjO
DWWHQWLRQGHO
LQVWUXFWHXU,OIDXWPHWWUHO¶DFFHQWVXUOHIDLWTX¶HQ
FDVG¶XUJHQFHOHPRW85*(1&(GHYUDrWUHUpSpWpWURLVIRLVWRXWOHPRQGH
GHYUD FHVVHU GH FRPPXQLTXHU HW DWWHQGUH GHV LQVWUXFWLRQV GH OD EDVH
©85*(1&(85*(1&(85*(1&(ª
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
&RPPXQLFDWLRQV5DGLR§
6HQVLELOLVDWLRQjODVpFXULWp 'LDSRVLWLYH
'XUDQWGHVFRPPXQLFDWLRQVUDGLR
• QHSDVGLYXOJXHU G¶LQIRUPDWLRQVSHUVRQQHOOHVRX
VHQVLEOHV
• QHSDVDERUGHUGHVTXHVWLRQVSROLWLTXHV
• Q¶XWLOLVHUTXHGHVLQGLFDWLIVG¶DSSHORIILFLHOV
• Q¶XWLOLVHUTXHODODQJXHRIILFLHOOHGHODPLVVLRQ
[ 6XU OH SODQ GHOD VpFXULWp GHVLQIRUPDWLRQV WUDQVPLVHV OD UDGLR Q¶RIIUH
SDVGHVJDUDQWLHV
(Q UqJOH JpQpUDOH LO IDXW XWLOLVHU OD ODQJXH RIILFLHOOH GH OD PLVVLRQ ORUV
G¶XQHFRPPXQLFDWLRQ
6\QWKqVH 'LDSRVLWLYH
• 5HVSHFWGHVSURFpGXUHVUDGLRDSSURSULpHV
• 8WLOLVDWLRQGHVWHUPHVGHSURFpGXUH
• 8WLOLVDWLRQGHO¶DOSKDEHWSKRQpWLTXHLQWHUQDWLRQDO
F1RWHjO
DWWHQWLRQGHO
LQVWUXFWHXU6LOHWHPSVDOORXpOHSHUPHWGLYLVHUOD
FODVVHHQJURXSHVHWGLVWULEXHUOHVH[HUFLFHVGDQVO¶$FWLYLWpG¶DSSUHQWLVVDJH
IDFXOWDWLYH
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
§ &RPPXQLFDWLRQV5DGLR
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
&RPPXQLFDWLRQV5DGLR§
eYDOXDWLRQGHVUpVXOWDWVGHO¶DSSUHQWLVVDJH
/¶LQVWLWXWLRQ GH IRUPDWLRQ D WRXWH ODWLWXGH SRXU GpFLGHU VL OH TXHVWLRQQDLUH
G¶pYDOXDWLRQ VH IHUD SDU OH ELDLV G¶XQH VHVVLRQ LQIRUPHOOH GH TXHVWLRQV
UpSRQVHVRUJDQLVpHDXVHLQGHVJURXSHVRXG¶XQHLQWHUURJDWLRQpFULWHUDSLGH
VRXV IRUPH GH TXL] 'DQV WRXV OHV FDV LO HVW UHFRPPDQGp GH IRXUQLU j
O¶LVVXH GH O¶pYDOXDWLRQ OHV UpSRQVHV FRUUHFWHV DILQ GH SHUPHWWUH DX[
SDUWLFLSDQWVGHUHWHQLUOHVLQIRUPDWLRQVFOpV
$ODILQGHO¶XQLWpHWRXjODFRQFOXVLRQGHODIRUPDWLRQOHVLQVWUXFWHXUVHQ
JXLVHGHUpYLVLRQSRXUURQWGHQRXYHDXFKRLVLUGHSRVHUFHUWDLQHVGHV
TXHVWLRQVILJXUDQWGDQVODOLVWHVXLYDQWH
4XHVWLRQV
4X¶HVWFHTXHODFRPPXQLFDWLRQHWTX¶HVWFHTX¶XQHWUDQVPLVVLRQ
UDGLR"
4XHOOHHVWODGLIIpUHQFHHQWUH8+)HW9+)"
'RQQHUWHUPHVGHSURFpGXUHSDUPLOHVSOXVXVLWpVHWOHXUVLJQLILFDWLRQ
4XHIDLWHVYRXVTXDQGYRXVSDUWH]HQYR\DJH"
4XHIDLWHVYRXVHQFDVG¶XUJHQFHRXTXDQGYRXVHQWHQGH]XQDSSHO
G¶XUJHQFH"
F5pVXOWDWVG¶DSSUHQWLVVDJHUHFKHUFKpV
4X¶HVWFHTXH OD FRPPXQLFDWLRQ HW TX¶HVWFHTX¶XQH WUDQVPLVVLRQ
UDGLR"
/D&RPPXQLFDWLRQ
• ,OV¶DJLWG¶XQSURFHVVXVSDUOHTXHOGHVLQIRUPDWLRQVVRQWpFKDQJpHV
HQWUHLQGLYLGXVSDUOHELDLVG¶XQV\VWqPHFRPPXQGHV\PEROHVGH
VLJQHVRXGHFRPSRUWHPHQWV
• ,OV¶DJLWG¶XQHWHFKQLTXHSRXUH[SULPHUGHVLGpHVDYHFHIILFDFLWp
FRPPHODSDUROH
KWWSZZZPHUULDPZHEVWHUFRPGLFWLRQDU\FRPPXQLFDWLRQ
/HVFRPPXQLFDWLRQVUDGLR
• ,OV¶DJLWG¶XQWHUPHXWLOLVpSRXUGpFULUHOHWUDQVIHUWG¶LQIRUPDWLRQV
HQWUHGHX[RXSOXVLHXUVSRLQWVDXPR\HQG¶XQHUDGLRRXG¶RQGHV
pOHFWURPDJQpWLTXHV
ZZZVFLHQFHOREE\FRPGLFWLRQDU\UKWPO
• /DUDGLRGpVLJQHODWUDQVPLVVLRQGHVLJQDX[SDUPRGXODWLRQG¶RQGHV
pOHFWURPDJQpWLTXHVjGHVIUpTXHQFHVLQIpULHXUHVDXVSHFWUHYLVLEOH
9RLUVXUOHVLWHHQZLNLSHGLDRUJZLNL5DGLRFRPPXQLFDWLRQ
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
§ &RPPXQLFDWLRQV5DGLR
4XHOOHHVWODGLIIpUHQFHHQWUH8+)HW9+)"
• /HVUDGLRV9+)+DELWXHOOHPHQWXQHUDGLR9+)VHSUpVHQWHVRXV
IRUPHG¶XQFRPELQpHWFRQVWLWXHO¶pTXLSHPHQWOHSOXVFRPPXQpPHQW
XWLOLVpGDQVOD]RQHGHPLVVLRQ&HWpTXLSHPHQWDXQHSRUWpH
PD[LPDOHGHNP
• /HVUDGLRV8+)+DELWXHOOHPHQWHOOHVpTXLSHQWOHVYpKLFXOHVDLQVL
TXHOHFHQWUHGHWpOpFRPPXQLFDWLRQGHV1DWLRQV8QLHVDYHFXQH
SRUWpHSOXVJUDQGHMXVTX¶jNP
'RQQHUWHUPHVGHSURFpGXUHSDUPLOHVSOXVXVLWpVHWOHXUVLJQLILFDWLRQ
$IILUPDWLI 2XLFRUUHFW
1pJDWLI 1RQLQFRUUHFW
0HVVDJH -¶DLXQPHVVDJHLQIRUPHOSRXUYRXV
(QYR\H]PHVVDJH $OOH]\WUDQVPHWWH]MHVXLVSUrWjSUHQGUHQRWH
3DUOH] -¶DLILQLPDWUDQVPLVVLRQM¶DWWHQGVXQHUpSRQVH
7HUPLQp -¶DLILQLPDWUDQVPLVVLRQMHQ¶DWWHQGVSDVGH
UpSRQVH
5HoX -¶DLUHoXYRWUHGHUQLqUHWUDQVPLVVLRQDYHF
VDWLVIDFWLRQ
$SHUoX -¶DLUHoXYRWUHPHVVDJHMHO¶DLFRPSULVHWM¶DFFqGH
jYRWUHGHPDQGH
&RQWU{OHUDGLR &RPPHQWP¶HQWHQGH]YRXV"
4XHIDLWHVYRXVTXDQGYRXVSDUWH]HQYR\DJH"
• 7RXMRXUVIDLUHXQFRQWU{OHUDGLRDYHFODEDVHSRXUV¶DVVXUHUTXHOD
WUDQVPLVVLRQHVWFODLUH
4XH IDLWHVYRXV HQ FDV G¶XUJHQFH RX TXDQG YRXV HQWHQGH] XQ DSSHO
G¶XUJHQFH"
• (QFDVG¶XUJHQFHUpSpWH]WURLVIRLVOHPRW85*(1&(
©85*(1&(85*(1&(85*(1&(ª
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
&RPPXQLFDWLRQV5DGLR§
• 6LYRXVHQWHQGH]XQDSSHOG¶XUJHQFHUHVWH]VLOHQFLHX[HWDWWHQGH]
GHVLQVWUXFWLRQVGHODEDVH
ʆ
$FWLYLWpG¶DSSUHQWLVVDJHIDFXOWDWLYH/HVGLIILFXOWpVGDQVOHV
FRPPXQLFDWLRQVUDGLR
&HWWH DFWLYLWp GH GLVFXVVLRQ HQ JURXSH D SRXU EXW G¶LQGLTXHU OHV SULQFLSDX[
pFXHLOV HW OHV SULQFLSDOHV HUUHXUV GXUDQW XQH FRPPXQLFDWLRQ UDGLR GH PHWWUH
O¶DFFHQW VXU OD ERQQH PDQLqUH GH FRQGXLUH XQH FRPPXQLFDWLRQ HW VXU OD
QpFHVVLWp GHIDLUH GHV H[HUFLFHV SUDWLTXHV SRXU GpYHORSSHU OHV FRPSpWHQFHV
HQFRPPXQLFDWLRQUDGLR
/HWHPSVUHTXLVSRXUO¶DFWLYLWpG¶DSSUHQWLVVDJH
PLQXWHV SRXUIDLUHXQHSUpVHQWDWLRQHWGRQQHU
GHVLQVWUXFWLRQV
PLQXWHV SRXUO¶H[HUFLFH
PLQXWHV SRXUO¶H[HUFLFH
PLQXWHV 'pEULHILQJHQVpDQFHSOpQLqUH
PLQXWHV ¬WHPSVWRWDOHQIRQFWLRQGXQRPEUHGH
7HPSVWRWDO JURXSHV
3([HUFLFH
• $LFL%DVH$OSKDYRXVGHPDQGHGHUHQGUHFRPSWHGHODSRVLWLRQ
HWGHO¶DFWLYLWpDFWXHOOHGHVXQLWpV$OSKD$OSKDHW$OSKD
• $OSKDSDWURXLOOHjSLHGGDQVOHPDUFKpFHQWUDO
• $OSKDHVWjODEDVHGX0RQW'DQJHUSRXUHVVD\HUGHUpFXSpUHU
OHXUYpKLFXOHHPERXUEpGDQVXQHFULTXH
• $OSKDYR\DJHjO¶RXHVWGHODURXWH&RPRURHQSDWURXLOOH
3([HUFLFH
6FpQDULR$OSKDYRXVYRXVrWHVUHQGXVVXUOHVOLHX[G¶XQHYLROHQFH
FRQMXJDOHSUqVGH%DLUR3LWH/DYLFWLPHDEHVRLQGHVRLQVPpGLFDX[HW
O¶DJUHVVHXUVHWURXYHWRXMRXUVVXUOHVOLHX[/¶DJUHVVHXUHVWYLROHQWHWLO
HVWDUPpG¶XQJUDQGFRXWHDX9RXVGHPDQGH]XQHDVVLVWDQFH
DSSURSULpH
• $OSKDHVWO¶XQLWpODSOXVSURFKH
• $OSKDUDSSHOH]YRXVTXHYRXVFRPPDQGH]WRXWHVOHVpTXLSHV
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
&RPPXQLFDWLRQV5DGLR
x 6LYRXVHQWHQGH]XQDSSHOG¶XUJHQFHUHVWH]VLOHQFLHX[HWDWWHQGH]
GHVLQVWUXFWLRQVGHODEDVH
¬h
$FWLYLWpG¶DSSUHQWLVVDJHIDFXOWDWLYH/HVGLIILFXOWpVGDQVOHV
FRPPXQLFDWLRQVUDGLR
&HWWH DFWLYLWp GH GLVFXVVLRQ HQ JURXSH D SRXU EXW G¶LQGLTXHU OHV SULQFLSDX[
pFXHLOV HW OHV SULQFLSDOHV HUUHXUV GXUDQW XQH FRPPXQLFDWLRQ UDGLR GH PHWWUH
O¶DFFHQW VXU OD ERQQH PDQLqUH GH FRQGXLUH XQH FRPPXQLFDWLRQ HW VXU OD
QpFHVVLWp GHIDLUH GHV H[HUFLFHV SUDWLTXHV SRXU GpYHORSSHU OHV FRPSpWHQFHV
HQFRPPXQLFDWLRQUDGLR
/HWHPSVUHTXLVSRXUO¶DFWLYLWpG¶DSSUHQWLVVDJH
PLQXWHV SRXUIDLUHXQHSUpVHQWDWLRQHWGRQQHU
GHVLQVWUXFWLRQV
PLQXWHV SRXUO¶H[HUFLFH
PLQXWHV SRXUO¶H[HUFLFH
PLQXWHV 'pEULHILQJHQVpDQFHSOpQLqUH
PLQXWHV WHPSVWRWDOHQIRQFWLRQGXQRPEUHGH
7HPSVWRWDO JURXSHV
([HUFLFH
x $LFL%DVH$OSKDYRXVGHPDQGHGHUHQGUHFRPSWHGHODSRVLWLRQ
HWGHO¶DFWLYLWpDFWXHOOHGHVXQLWpV$OSKD$OSKDHW$OSKD
x $OSKDSDWURXLOOHjSLHGGDQVOHPDUFKpFHQWUDO
x $OSKDHVWjODEDVHGX0RQW'DQJHUSRXUHVVD\HUGHUpFXSpUHU
OHXUYpKLFXOHHPERXUEpGDQVXQHFULTXH
x $OSKDYR\DJHjO¶RXHVWGHODURXWH&RPRURHQSDWURXLOOH
([HUFLFH
6FpQDULR$OSKDYRXVYRXVrWHVUHQGXVVXUOHVOLHX[G¶XQHYLROHQFH
FRQMXJDOHSUqVGH%DLUR3LWH/DYLFWLPHDEHVRLQGHVRLQVPpGLFDX[HW
O¶DJUHVVHXUVHWURXYHWRXMRXUVVXUOHVOLHX[/¶DJUHVVHXUHVWYLROHQWHWLO
HVWDUPpG¶XQJUDQGFRXWHDX9RXVGHPDQGH]XQHDVVLVWDQFH
DSSURSULpH
x $OSKDHVWO¶XQLWpODSOXVSURFKH
x $OSKDUDSSHOH]YRXVTXHYRXVFRPPDQGH]WRXWHVOHVpTXLSHV
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
§ &RPPXQLFDWLRQV5DGLR
F1RWH j O
DWWHQWLRQ GH O
LQVWUXFWHXU 3RXU IDLUH GHV H[HUFLFHV SUDWLTXHV
GLYLVHUODFODVVHHQDXWDQWGHJURXSHVTX¶LO\DG¶LQGLFDWLIVPHQWLRQQpVGDQV
FKDTXHVFpQDULR
F ,QVWUXFWLRQVUHODWLYHVjO¶DFWLYLWpG¶DSSUHQWLVVDJH
5pSDUWLUOHVSDUWLFLSDQWVHQWURLVSHWLWVJURXSHV
'HPDQGHUjFKDTXHJURXSHG¶H[SOLTXHUO¶XQGHVWHUPHVILJXUDQWVXUOD
GLDSRVLWLYH
'HPDQGHU DX[ SDUWLFLSDQWV GH SUpVHQWHU OHXUV FRQFOXVLRQV HQ VpDQFH
SOpQLqUHF¶HVWjGLUHDXVHLQGXJUDQGJURXSH
&RPSOpWHU OHXUV FRQFOXVLRQV DYHF OHV UpVXOWDWV G¶DSSUHQWLVVDJH
UHFKHUFKpV
F 5pVXOWDWVG¶DSSUHQWLVVDJHUHFKHUFKpV
([HUFLFH
• $OSKDLFL%DVH$OSKDM¶DLXQPHVVDJHSRXUYRXVSDUOH]
• %DVH$OSKDLFL$OSKDPHVVDJHHQYR\pSDUOH]
• ,FL%DVH$OSKDGRQQH]SRVLWLRQHWDFWLYLWpG¶$OSKDG¶$OSKDHW
G¶$OSKDSDUOH]
• ,FL$OSKDDSHUoXSDUOH]
• $OSKD$OSKD$OSKDLFL$OSKDGRQQH]YRWUHSRVLWLRQHWYRWUH
DFWLYLWpDFWXHOOHVSDUOH]
• ,FL$OSKDVXLVHQSDWURXLOOHjSLHGGDQVOHPDUFKpFHQWUDOSDUOH]
• ,FL$OSKDUHoXWHUPLQp
• ,FL$OSKDVXLVjODEDVHGX0RQW'DQJHUSRXUHVVD\HUGH
UpFXSpUHUPRQYpKLFXOHHPERXUEpGDQVXQHFULTXHSDUOH]
• ,FL$OSKDUHoXWHUPLQp
• ,FL$OSKDVXLVHQSDWURXLOOHOHORQJGH&RPRUR5RDGSDUOH]
• ,FL$OSKDUHoXWHUPLQp
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
&RPPXQLFDWLRQV5DGLR§
• %DVH$OSKDLFL$OSKDM¶DLXQPHVVDJHSRXUYRXVSDUOH]
• ,FL%DVH$OSKDPHVVDJHHQYR\pSDUOH]
• ,FL$OSKDSRXUGRQQHUSRVLWLRQHWDFWLYLWpDFWXHOOHVG¶$OSKD
G¶$OSKDHWG¶$OSKDDYH]YRXVELHQUHoX"3DUOH]
• ,FL%DVH$OSKDELHQUHoXSDUOH]
• ,FL$OSKD$OSKDHQSDWURXLOOHjSLHGGDQVOHPDUFKpFHQWUDO
• $OSKDjODEDVHGX0RQW'DQJHUSRXUHVVD\HUGHUpFXSpUHUVRQ
YpKLFXOHHPERXUEpGDQVXQHFULTXH
• $OSKDHQSDWURXLOOHOHORQJGH&RPRUR5RDG
• ,FL$OSKDILQGXPHVVDJHSDUOH]
• ,FL%DVH$OSKDUHoXWHUPLQp
([HUFLFH
• $OSKD©85*(1&(85*(1&(85*(1&(ª
• $OSKDLFL$OSKDUHQGH]FRPSWHGHYRWUHXUJHQFH
• ,FL$OSKDVXLVj%DLUR3LWHRLO\DHXXQFDVGHYLROHQFH
FRQMXJDOH
• /¶DJUHVVHXUHVWVXUSODFHYLROHQWHWDUPp
• /DYLFWLPHDEHVRLQGHVRLQVPpGLFDX[
• 'HPDQGRQVGXUHQIRUWSDUOH]
• $OSKDjWRXWHVOHVVWDWLRQVSURFKHVGH%DLUR3LWHSDUOH]
• $OSKDLFL$OSKDVXLVVXU]RQHSDUOH]
• ,FL$OSKDUHQGH]YRXVj%DLUR3LWHHWDSSRUWH]YRWUHVRXWLHQj
$OSKDWHQH]PRLLQIRUPpSDUOH]
• ,FL$OSKDDSHUoXSDUOH]
• $OSKDLFL$OSKD$OSKDHVWHQURXWHWHQH]PRLLQIRUPpSDUOH]
• ,FL$OSKDUHoXWHUPLQp
• %DVH$OSKDLFL$OSKDM¶DLXQPHVVDJHSRXUYRXVSDUOH]
• ,FL%DVH$OSKDPHVVDJHHQYR\pSDUOH]
• ,FL$OSKDGHPDQGRQVDVVLVWDQFHPpGLFDOHj%DLUR3LWHHQUDLVRQ
G¶XQFDVGHYLROHQFHFRQMXJDOH$OSKDHW$OSKDVXUSODFH
O¶DJUHVVHXUHVWGDQVODPDLVRQSDUOH]
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ
§ &RPPXQLFDWLRQV5DGLR
• ,FL%DVH$OSKDUHoXWHUPLQp
1RUPHVGHIRUPDWLRQDX[RSpUDWLRQV218GHPDLQWLHQGHODSDL[SUpDODEOHDXGpSORLHPHQW0RGXOHV
GHIRUPDWLRQVSpFLDOLVpHSRXUODSROLFHqUHpGLWLRQ