You are on page 1of 29

! ""#$%#&$&$!

!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
!

!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%
&/#"0+11"-",*%&$(230"4%
,3456!&$"7!8!59:3)6!&$&$!
!
!
3;<2=>1?<@=;A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!B!
5A! 9=;</C</A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!B!
,A! (/0D=;0-E@F@<GA!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!B!
9A! 'G2@HI<2/A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!B!
JA! KG<L=>=F=.@/A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!B!
"A! M:5:!JMN!59:3)6N!JMN!(MOPMN!'(M9MJM6:MNA!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!Q!
"A"! 4@0</!>/0!-?<@=;!/<!0<-<1<0A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!Q!
"A&! 9=;?F10@=;A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!R!
&A! K)J3S395:3)6!JMN!M6TMPU!36:M(6M!M:!MU:M(6MA!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!*!
&A"A! 4/!H-2V1-./!W!X2=@>A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!*!
&A&A! 4YGZ=F1<@=;!>/0!/;.-./H/;<0!3HD2@H!Z/2<A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"$!
&AQA! M<1>/!>/0!?[?F/0!>/!Z@/!/<!E@F-;!?-2E=;/A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!""!
&A%A! 9=;?F10@=;A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!""!
BA!'M(S)(KM69M!&$"7A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"&!
BA"A!6=;+?=;X=2H@<G0!/<!-?<@=;0!?=22/?<@Z/0A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"&!
BA"A"A!4-!H@0/!/;!?=;X=2H@<G!>1!0GD-2-</12!>YL[>2=?-2E12/A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"&!
BA"A&A!4-!H@0/!/;!?=;X=2H@<G!>/!F-!\=;/!>/!0<=?]-./!>/0!>G?L/<0!/;!-<</;</!>/!2/?[?F-./A!AAAAAAA!"&!
BA"ABA!4-!H@0/!/;!?=;X=2H@<G!>1!2G0/-1!>/!2G?1DG2-<@=;!>/0!/-1C!DF1Z@-F/A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"&!
BA"AQA!9=;?F10@=;A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"&!
BA&A!(G01F<-<!>/!F-!012Z/@FF-;?/!/<!H/012/0A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"B!
BA&A"A!:-EF/-1!>/!E=2>!>1!D2=?/0010!M;Z@2=;;/H/;<A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"B!
BA&A&A!K-@<2@0/!>1!D2=?/0010!/;Z@2=;;/H/;<A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"Q!
BA&A&A"A!(G-F@0-<@=;!>/0!-1>@<0!/;Z@2=;;/H/;<-1CA!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"Q!
BA&A&A&A!M?-2<!/;Z@2=;;/H/;<-1CA!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"Q!
BA&ABA!9=;0=HH-<@=;!G;/2.G<@V1/A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"%!
BA&ABA"!9=;0=HH-<@=;!G;/2.G<@V1/!.F=E-F/A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"%!

'-./!"!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
BA&ABA&A!9=;0=HH-<@=;!/;!GF/?<2@?@<GA!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"R!
BA&ABABA!9=;0=HH-<@=;!>/!.-\A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"*!
BA&AQ!K-@<2@0/!>/0!GH@00@=;0!>/!9)OA!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"^!
BA&AQA"A!9=;0=HH-<@=;!>Y-F?==F!@0=!D2=D[F@V1/A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"7!
BA&AQA&A!9=;0=HH-<@=;!/;!U<2-H-CA!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!"7!
BA&A%A!K-@<2@0/!>/0!>G?L/<0A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!&$!
BA&ARA!9=;0=HH-<@=;!/;!/-1A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!&$!
BA&AR!,@=>@Z/20@<G!D2=H=<@=;!>1!F-E/F!SN9A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!&"!
BA&A*A!JG?L/<0!3HD2@H/2@/!8!3K'(3K!OM(:A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!&&!
BA&A^A!9=;?F10@=;A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!&Q!
BAQ!(MNP4:5:!JMN!5PJ3:NA!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!&%!
BAQA"!5PJ3:!SN9A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!&%!
BAQA&!5PJ3:!5U5A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!&%!
BAQAB!?=;?F10@=;0A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!&%!
QA!'(MN:5:53(MN!MU:M(3MP(N!M:!5P:(MN!'5(:3MN!36:M(MNNMMNA!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!&R!
QA"!K53:(3NM!JMN!)(_563NKMN!MU:M(3MP(A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!&R!
QA&!S)P(63NNMP(N!JM!'5'3M(!SN9A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!&*!
%A!(3N`PMN!M:!)'')(:P63:MNA!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!&*!
RA!(MNN)P(9MN!M6_5_MMN!')P(!&$&$A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!&^!
*!(MOPMN!JMN!59:3)6N!&$&$A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!&^!
^!9)694PN3)6A!AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!&7!
%

% %

'-./!#!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!

!"#$%&'(#)%"*+ +
!

,* -%"#./#.*+
4-! 0=?@G<G! a5P:M(N! 0Y/0<! /;.-.G/! >-;0! 1;/! >GH-2?L/! >/! >GZ/F=DD/H/;<! >12-EF/! /<!
/;Z@2=;;/H/;<-F/A!MFF/!-!D=12!?/F-!>GX@;@<!F-!D=F@<@V1/!/;Z@2=;;/H/;<-F/!V1@!X@C/!F/0!/;.-./H/;<0!/<!
-C/0! >/! D2=.2I0! Z=1F10A! 4-! 0=?@G<G! a5P:M(N! 0Y/0<! >=<G/! >Y1;! D2=?/0010! >/! H-;-./H/;<! >/!
FY/;Z@2=;;/H/;<!-X@;!>/!D@F=</2!FY/;0/HEF/!>/0!-?<@=;0!F@G/0!W!FY/;Z@2=;;/H/;<A!
!

0* 1.23%"245)6)#7*+
5"% &'(")*"$(% ',&$6*('"0% 2% /*230'% 0"6% 0'7,"6% &'(")*(')"6% &"% 02% 1+0'*'8$"% ",#'(+,,"-",*20"4% 5"%
("61+,6230"%9:;%6"%&+'*%&"%&/10+<"(%0=",6"-30"%02%1+0'*'8$"%2$%6"',%&"%0=",*'*/4%
%

-* 87$)9:#$.*+
5"%7(+$1"%>?@A;!:%"6*%)+-1+6/%&"%B%",*'*/64%C"$D%6'*"6%&"%1(+&$)*'+,6%E>?@A;!:%"*%FG12)HI%
2',6'% 8$"% &=$,"% 6*($)*$("% &"% 1'0+*27"% >?@A;!:% 7(+$1"4% 52% 1(/6",*"% ("#$"% &"% &'(")*'+,% ,"%
)+,)"(,"%8$"%0"%6'*"%&"%1(+&$)*'+,%>?@A;!:4%%

52% 6+)'/*/% FG12)H% 2% 2$J+$(&=K$'% 6+,% 1(+1("% 6<6*L-"% &"% -2,27"-",*% &"% 0=",#'(+,,"-",*4% 5"%
)K+'D%2%/*/%M2'*%&"%&'66+)'"(%0"6%",*'*/6%2M',%&"%)+,6"(#"(%$,"%27'0'*/%"*%M0"D'3'0'*/%&2,6%0"6%1('6"6%
&"%&/)'6'+,4%NO-"%6'%0"6%&"$D%6+)'/*/6%+,*%$,"%2)*'#'*/%)+-12(230"P%0"6%6'*"6%,=+,*%126%0"6%-O-"6%
)+,*(2',*"6% &"% 12(% 0"$(% ',M(26*($)*$("P% 0"$(% 0+)20'62*'+,P% "*% 02% )$0*$("% &=",*("1('6"4% 52% &'(")*'+,%
/*$&'"% ,/2,-+',6% 02% 1+66'3'0'*/% &"% -$*$20'6"(% 0"6% "D1/('",)"6% "*% 0"6% )+,,2'662,)"64% Q"**"%
-$*$20'62*'+,% 1+$((2% 6"% M2'("% &2,6% $,% 1("-'"(% *"-16% 12(% &"6% ("#$"% &"% &'(")*'+,% )+--$,"% "*%
$,"%M$6'+,%&"6%1(+)"66$6%&"%-2,27"-",*%&"%0=",#'(+,,"-",*4%
%

;* <7#=%&%6%>).*+
5"%(211+(*%6=211$'"%6$(%02%-/*K+&+0+7'"%&"%02%("#$"%&"%&'(")*'+,%&"%02%,+(-"%R:S%TUUV%#"(6'+,%
WUVX4%
!"#$%&'(&$)&$)*+&,-*./$
!"#"0$12/2+34*-25$
!"#$%"&'($)*+,,$%"-,+'&.&/%0",+"#&)$1(&2'"#2&("-)21/#$)"3",+")$*4$"#4"%5%(67$"#$"7+'+8$7$'("#$",+"94+,&(/"7&%"$'"-,+1$"-+)",:2)8+'&%7$0"+.&'"#$"%:+%%4)$)"94:&,"
$%("(24;24)%"+--)2-)&/0"+#+-(/0"$..&1+1$"$("$'"+112)#"+*$1",:2)&$'(+(&2'"%()+(/8&94$"#$",:2)8+'&%7$<"
!"#"6$7428&/-5$)9&/-+2&$)&$43$+&'(&$)&$)*+&,-*./$
=+")$*4$"#$"#&)$1(&2'"#2&(">()$"-,+'&.&/$"$(")/+,&%/$"$'"-)$'+'("$'"127-($?"
+@",:/(+("#:+*+'1$7$'("#$%"+1(&2'%"#/1&#/$%"3",:&%%4$"#$%")$*4$%"#$"#&)$1(&2'"-)/1/#$'($%A"
B@",$%"72#&.&1+(&2'%"#$%"$';$4C"$C($)'$%"$("&'($)'$%"-$)(&'$'(%"-24)",$"%5%(67$"#$"7+'+8$7$'("#$",+"94+,&(/A"
1@",$%"&'.2)7+(&2'%"%4)",+"-$).2)7+'1$"$(",:$..&1+1&(/"#4"%5%(67$"#$"7+'+8$7$'("#$",+"94+,&(/0"5"127-)&%",$%"($'#+'1$%"12'1$)'+'(?"
D@",+"%+(&%.+1(&2'"#$%"1,&$'(%"$(",$%")$(24)%"#:&'.2)7+(&2'"#$%"-+)(&$%"&'(/)$%%/$%"-$)(&'$'($%A"
E@",$"#$8)/"#$")/+,&%+(&2'"#$%"2B;$1(&.%"94+,&(/A"
F@",+"-$).2)7+'1$"#$%"-)21$%%4%"$(",+"12'.2)7&(/"#$%"-)2#4&(%"$("%$)*&1$%A"
G@",$%"'2'H12'.2)7&(/%"$(",$%"+1(&2'%"12))$1(&*$%A"
I@",$%")/%4,(+(%"#$",+"%4)*$&,,+'1$"$("#$",+"7$%4)$A"
J@",$%")/%4,(+(%"#:+4#&(A"
K@",$%"-$).2)7+'1$%"#$%"-)$%(+(+&)$%"$C($)'$%A"
#@",:+#/94+(&2'"#$%")$%%24)1$%A"
$@",:$..&1+1&(/"#$%"+1(&2'%"7&%$%"$'"2$4*)$".+1$"+4C")&%94$%"$("2--2)(4'&(/%@A"
.@",$%"2--2)(4'&(/%"#:+7/,&2)+(&2'<"
!"#"#$7428&/-5$)&$5.+-*&$)&$43$+&'(&$)&$)*+&,-*./$
=$%"/,/7$'(%"#$"%2)(&$"#$",+")$*4$"#$"#&)$1(&2'"#2&*$'("&'1,4)$",$%"#/1&%&2'%"$("+1(&2'%")$,+(&*$%"+4C?"
+@"2--2)(4'&(/%"#:+7/,&2)+(&2'A"
B@"B$%2&'%"#$"1L+'8$7$'(%"3"+--2)($)"+4"%5%(67$"#$"7+'+8$7$'("#$",+"94+,&(/A"
1@"B$%2&'%"$'")$%%24)1$%<"
=:2)8+'&%7$"#2&("12'%$)*$)"#$%"&'.2)7+(&2'%"#2147$'(/$%"1277$"-)$4*$%"#$%"/,/7$'(%"#$"%2)(&$"#$%")$*4$%"#$"#&)$1(&2'<"
%

:"$06%0"6%1+',*6%2110')230"6%2$%6<6*L-"%&"%-2,27"-",*%&"%0=",#'(+,,"-",*%&"%02%6+)'/*/%
>?@A;!:%+,*%/*/%&+)$-",*/4% %

'-./!%!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
%

?* @A,A+;@B+,-A!CDB+;@B+1@EF@B+81@-@;@DA@B*+
%

?*? G)2#.+&.2+4(#)%"+.#+2#4#'#2*+
!

N° Axe de travail Actions Pilote Statut

K@0/!/;!DF-?/!>YG?L-;./120!<L/2H@V1/!
M;Z+$$"! (G>1?<@=;!?=;0=HH-<@=;!G;/2.G<@V1/!! b2G?1DG2-<@=;!>/!?L-F/12c! :a! (G-F@0G/!
4MJ!/<!./0<@=;!>dG?F-@2-./!-1!0<=?]!'S!
b>@Z@0/2!D-2!%!-1!H@;@H1H!F-!
M;Z+$$&! (G>1?<@=;!?=;0=HH-<@=;!G;/2.G<@V1/!! ?=;0=HH-<@=;c! :a!#95! (G-F@0G/!

M;Z+$$B! (G>1?<@=;!?=;0=HH-<@=;!G;/2.G<@V1/!! 4MJ!H-?L@;/!>/!?=;<2/+?=FF-./! :a!#95! (G-F@0G/!

M;Z+$$Q! (G>1?<@=;!?=;0=HH-<@=;!/-1!! 9L-;./H/;<!2=E@;/<!b-22e<!-1<=H-<@V1/c! :a!#95! (G-F@0G/!

M;Z+$$%! (G>1?<@=;!?=;0=HH-<@=;!G;/2.G<@V1/!! 4MJ!H-?L@;/!>/!?=>-./! :a!#95! (G-F@0G/!

M;Z+$$R! (G>1?<@=;!?=;0=HH-<@=;!G;/2.G<@V1/!! 4MJ!=XX0/<!""9! :a!#95! (G-F@0G/!

M;Z+$$*! (G>1?<@=;!?=;0=HH-<@=;!G;/2.G<@V1/!! 4MJ!_@/<\! :a!#95! (G-F@0G/!

5;-F[0/!>/!Fd@;<G2e<!>d1;!0[0<IH/!>/!
M;Z+$$^! (G>1?<@=;!>/0!>G?L/<0! 2/?[?F-./!>/0!/-1C!10G/0! :a! !9Ff<12G/!

5;-F[0/!>/!Fd@;<G2e<!>d1;!0[0<IH/!E2=[/12!
M;Z+$$7! (G>1?<@=;!>/0!>G?L/<0! >/!D-F/<</0! :a! !M;!?=120!
M<1>/0!</?L;@V1/0!g!>/!X-@0-E@F@<G!
G?=;=H@V1/!
MZ-F1-<@=;!>/0!X=12;@00/120!
`1-F@X@?-<@=;!>/0!/;?2/0!
M;Z+$"$! (/?L/2?L/!012!F/0!/;?2/0!E@=0=12?G/0! '2G0/;<-<@=;!-1!?F@/;<! 5,! !M;!?=120!

N12!F/0!"$!-?<@=;0!>G?@>G/0!F=20!>/!F-!2/Z1/!>/!>@2/?<@=;!D2G?G>/;</h!*!=;<!G<G!2G-F@0G/0!/<!B!2/0</0!/;!
?=120A!4/0!-?<@=;0!M;Z+$$7!/<!$"$!=;<!G<G!2/?=;>1@</!012!FY-;;G/!&$&$A!

! !

'-./!&!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
4Y-?<@=;!M;Z!$$^!i!!

4/0!/-1C!0=;<!D=FF1G/0!D-2!>/0!2G0@>10!>/!?=FF/0!b0=F@>/0!=1!F@V1@>/0ch!>/0!-./;<0!-;<@!E-?<G2@/;h!-;<@!
-F.1/0h! >/0! 2/H@;G2-F@0-;<0h! >/0! 0=F1<@=;0! >/! >GZ/F=DD/H/;<! >/0! DF-V1/0! )SSNM:h! >/0! E=1/0!
2G0@>1/FF/0!D2=Z/;-;<!>/!FYGF@H@;-<@=;!>/!F-!?=1?L/!DL=<=0/;0@EF/!>/!F-!DF-V1/h!>/!FY-F?==F!/<!>@Z/20!
0=FZ-;<0h!>/0! 2G0@>10! >Y/;?2/! bGH1F-<@=;!>-;0!F-!0=F1<@=;!>/!H=1@FF-./cA!N@!?L-V1/!GFGH/;<!/0<!<2I0!
X-@EF/H/;<! ?=;?/;<2G! >-;0! F/0! /-1C! D=FF1G/0h! F-! H1F<@<1>/! >/0! D=FF1-;<0! D2G0/;<0! >-;0! FY/-1! 2/;>!
>@XX@?@F/!0=;<!2/<2-@</H/;<A!

4YG<1>/!-!D-00G!/;!2/Z1/!*!HG<L=>/0!>/!>GD=FF1<@=;!>/0!/-1CA!
6j! :[D/! JG?@0@=;!
"! 9=-.1F-<@=;+XF=?1F-<@=;!i! 6=;!-DDF@?-EF/!-1C!D=FF1-;<!D2G0/;<!>-;0!
FY/-1!

4/0!D2=?G>G0!>/!?=-.1F-<@=;!/<!>/!XF=?1F-<@=;!X-?@F@</;<!()*(+,+-./+0-!123!KMN!
2/!123!40((05123!/;!F/0!2-00/HEF-;<!0=10!X=2H/!>/!XF=?!>=;<!F-!0GD-2-<@=;!/0<!
/;01@</!/XX/?<1G/!D-2!>/0!0[0<IH/0!>/!>G?-;<-<@=;h!XF=<<-<@=;!/<#=1!X@F<2-<@=;!
3F0!?=;0<@<1/;<!F/0!<2-@</H/;<0!>/!E-0/!-DDF@V1G0!D=12!?=22@./2!<=1<!=1!D-2<@/!
>/0! >GX-1<0! >/! FY/-1! F@G0! -1C! 67.4/+0-3! 8.7/+49(.+723! +-27/23! bF@H=;0h! -2.@F/0h!
?=FF=k>/0c! 09! :+:.-/23! bH@?2=-F.1/0! DF-;?<=;@V1/0! l! H@?2=+! @;Z/2<GE2G0h! /;!
D-2<@?1F@/2! F/0! ][0</0! >/0! D2=<=\=-@2/0! D-2-0@</0! i! -H@E/0h! !"#$%"#&'
($)*+,-*,$"%"./m!l!E-?<G2@/0c!l!@F0!-0012/;<!-100@!FYGF@H@;-<@=;!>/!F-!67.4/+0-!;!
6(049(.<(2! =! 123! ,./+>723! 07?.-+@923! bH-?2=H=FG?1F/0h! /;! D-2<@?1F@/2! F-!
DF1D-2<!>/0!-?@>/0!L1H@V1/0!2/0D=;0-EF/0!>/!F-!?=1F/12ch!>/!?/2<-@;0!HG<-1C!
F=12>0h! DF10! .G;G2-F/H/;<! >/! F-! X2-?<@=;! 123! ,+47080((9.-/3! .3304+*2! A! 423!
KMN! 2/! ,.470,0(*49(23! 40((051.(23! b>=;<! F/0! Z@210h! D2-<@V1/H/;<! <=1n=120!
D=2<G0!D-2!F/0!KMN!/<!?=FF=k>/0!>/!FY/-1cA!

&! '2G?@D@<-<@=;0!?L@H@V1/0!i! 6=;!-DDF@?-EF/!-1C!D=FF1-;<!D2G0/;<!>-;0!


FY/-1!
M;!<2-@</H/;<!>/0!/-1Ch!F/0!D2G?@D@<-<@=;0!?L@H@V1/0!0=;<!D2@;?@D-F/H/;<!
1<@F@0G/0!D=12!GF@H@;/2!D-2!@;0=F1E@F@0-<@=;!1;!=1!DF10@/120!?=HD=0G0!H@;G2-1C!
V1@!.e;/;<!FY10-./!>/!FY/-1h!/;<2/!-1<2/0!i!F-!>12/<G!b9-&o!/<!K.&och!F/0!
HG<-1Ch!?/2<-@;0!-;@=;0!</F0!V1/!N)Q&8h!')QB8h!S!
B! JG?-;<-<@=;!i! 6=;!-DDF@?-EF/!-1C!D=FF1-;<!D2G0/;<!>-;0!
FY/-1!
4-!>G?-;<-<@=;!/0<!F-!HG<L=>/!F-!DF10!X2GV1/;</!>/!0GD-2-<@=;!>/0!KMN!/<!>/0!
?=FF=k>/0h!H-@0!?/0!>/2;@/20!>/Z2=;<!e<2/!D2G-F-EF/H/;<!2-00/HEFG0!0=10!
X=2H/!>/!XF=?!-D2I0!F/0!G<-D/0!>/!?=-.1F-<@=;+XF=?1F-<@=;!
Q! SF=<<-<@=;! 6=;!-DDF@?-EF/!-1C!D=FF1-;<!D2G0/;<!>-;0!
! FY/-1!
'-2! =DD=0@<@=;! W! F-! >G?-;<-<@=;h! F-! XF=<<-<@=;! /0<! 1;! D2=?G>G! >/! 0GD-2-<@=;!
0=F@>/+F@V1@>/! =1! F@V1@>/+F@V1@>/! V1@! 0Y-DDF@V1/! W! >/0! -.2G.-<0! >=;<! F-! H-00/!
Z=F1H@V1/!/0<!@;XG2@/12/!W!?/FF/!>1!F@V1@>/!V1@!F/0!?=;<@/;<h!?/0!-.2G.-<0!G<-;<!
2/?1/@FF@0h!@;!X@;/h!0=10!X=2H/!>YG?1H/0!bE=1/0!XF=<<G/0c!W!F-!012X-?/!01DG2@/12/!
>/! FY-DD-2/@FA! 4-! XF=<<-<@=;! /0<! >@</! -./972((2! 0@! F-! >@XXG2/;?/! >/! H-00/!
Z=F1H@V1/! /;<2/! F/0! -.2G.-<0! /<! FY/-1! /0<! ;-<12/FF/H/;<! 01XX@0-;</! D=12! 1;/!
0GD-2-<@=;A! 4-! XF=<<-<@=;! /0<! >@</! .33+3/*2! 0@! /FF/! H/<! /;! p1Z2/! >/0! H=[/;0!
/C<G2@/120! b>1! .-\h! -@2h! -\=</h! .-\! ;-<12/F! GZ/;<1/FF/H/;<! -Z/?! 2G-?<@X0c! D=12!
-HGF@=2/2!F-!0GD-2-<@=;!>/!D-2<@?1F/0!;-<12/FF/H/;<!XF=<<-EF/0!bH-@0!-Z/?!1;/!
Z@</00/!>/!0GD-2-<@=;!@;01XX@0-;</cA!4-!XF=<<-<@=;!/0<!>@</!870:0@9*2!F=20V1/!F-!
H-00/!Z=F1H@V1/!>/!F-!D-2<@?1F/h!W!FY=2@.@;/!01DG2@/12/!W!?/FF/!>1!F@V1@>/h!/0<!
-2<@X@?@/FF/H/;<! 2G>1@</! D=12! D2=Z=V1/2! 0-! XF=<<-<@=;A! MFF/! <@2/! -F=20! D-2<@! >/!
FY-D<@<1>/!V1Y=;<!?/2<-@;/0!D-2<@?1F/0!0=F@>/0!b=1!F@V1@>/0c!W!0Y1;@2!W!>/0!E1FF/0!
>/!.-\!b>/!FY-@2!=1!Fd-\=</!/;!.G;G2-Fc!D=12!X=2H/2!>/0!q-<</F-./0r!sD-2<@?1F/+
.-\t!H=@;0!>/;0/0!V1/!F/!F@V1@>/!>=;<!/FF/0!?=;0<@<1/;<!F-!DL-0/!>@0D/20G/A!4/!
DLG;=HI;/!H@0!/;!p1Z2/!/0<!>=;?!>/!;-<12/!<2@DL-0@V1/!b.-\+F@V1@>/+0=F@>/c!
/<! Z-! >GD/;>2/! >/0! ?-2-?<G2@0<@V1/0! DL[0@?=+?L@H@V1/0! >/0! <2=@0! DL-0/0h! /;!
D-2<@?1F@/2!>/!FY-XX@;@<G!>/!F/120!@;</2X-?/0!bDF10!=1!H=@;0!.2-;>/!L[>2=DL=E@/cA!

%! S@F<2-<@=;!i! 6G?/00@<G!>Y1<@F@0/2!DF10@/120!<[D/0!>/!
! X@F<2/0!/;!X=;?<@=;!>1!D=FF1-;<A!
4-!X@F<2-<@=;!/0<!1;!D2=?G>G!>/!0GD-2-<@=;!>-;0!F/V1/F!=;!X-@<!D/2?=F/2!1;! !
HGF-;./!0=F@>/+F@V1@>/!W!<2-Z/20!1;!H@F@/1!D=2/1C!bX@F<2/c!V1@!@>G-F/H/;<! '2=EFGH-<@V1/!F@G!-1!;/<<=[-./!>1!X@F<2/!

'-./!'!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
2/<@/;<!F/0!D-2<@?1F/0!0=F@>/0!/<!F-@00/!D-00/2!F/!F@V1@>/!bX@F<2-<cA!);!>@0<@;.1/! !
D2@;?@D-F/H/;<!F-!X@F<2-<@=;!2-!87060-1297!bX@F<2-<@=;!012!(+/!?7.-9(.+72c!/<!F-! K-@;</;-;?/!>/0!@;0<-FF-<@=;0!?=HDF/C/A!
X@F<2-<@=;!.:24!607,./+0-!12!?C/2.9!bX@F<2-<@=;!397!398807/cAA! !
4-@00/!>/0!E=1/0!<2I0!?=;?/;<2G/0!/;!
D=FF1-;<!W!2/?[?F/2!i!2@0V1/!F@G!-1!0<=?]-./!
/<!W!FYGZ-?1-<@=;!>/!E=1/0!>@</!
q!>-;./2/10/0!rA!
!
!
R! NGD-2-<@=;!D-2!H/HE2-;/0! 6G?/00@<G!>Y1<@F@0/2!DF10@/120!<[D/0!>/!
H/HE2-;/!/;!X=;?<@=;!>/!F-!<-@FF/!>/0!
4-!0GD-2-<@=;!D-2!H/HE2-;/!=1!=0H=0/!?=;?/2;/!1;@V1/H/;<!F/0!G?L-;./0! D-2<@?1F/0!>/0!D=FF1-;<0A!
/;<2/!>/1C!0=F1<@=;0!F@V1@>/0!V1@!=;<!>/0!?=;?/;<2-<@=;0!>/!0=F1<G0! !
>@XXG2/;</0h!0GD-2G/0!D-2!1;/!D-2=@!0/H@+D/2HG-EF/A!4d=0H=0/!/0<!F/! 9=;0=HH/!>/!FY/-1A!
DLG;=HI;/!>/!>@XX10@=;!>/!F-!H-<@I2/h!?-2-?<G2@0G!D-2!F/!D-00-./!>/! !
H=FG?1F/0!>/!0=FZ-;<!>d1;/!0=F1<@=;!Z/20!1;/!-1<2/!W!<2-Z/20!F-!H/HE2-;/! K-@;</;-;?/!>/0!@;0<-FF-<@=;0!?=HDF/C/A!
0/H@+D/2HG-EF/!V1@!0GD-2/!?/0!>/1C!0=F1<@=;0!>=;<!F/0!?=;?/;<2-<@=;0!/;! !
0=F1<G!0=;<!>@XXG2/;</0!l!F/!<2-;0X/2<!.F=E-F!>/!0=FZ-;<!0/!X-@<!-F=20!>/!F-! 4-@00/!>/0!E=1/0!<2I0!?=;?/;<2G/0!/;!
0=F1<@=;!F-!H=@;0!?=;?/;<2G/!bH@F@/1!L[D=<=;@V1/c!Z/20!F-!0=F1<@=;!F-!DF10! D=FF1-;<!W!2/?[?F/2!i!2@0V1/!F@G!-1!0<=?]-./!
?=;?/;<2G/! /<!W!FYGZ-?1-<@=;!>/!E=1/0!>@</!
q!>-;./2/10/0!rA!
!
6=;!-DDF@?-EF/!
*! MZ-D=2-<@=;! 9=;0=HH/!E/-1?=1D!>YG;/2.@/!>-;0!F/!
?-0!>YGZ-D=2-</12!GF/?<2@V1/A!4/0!9)O!0/!
P;!GZ-D=2-</12!/0<!1;!H-<G2@/F!>/0<@;G!W!<2-@</2!F/0!/XXF1/;<0!0/F=;!1;!D2@;?@D/! >G.-./;<!>-;0!FY-<H=0DLI2/!F=20!>/!
>YGZ-D=2-<@=;A!4YGZ-D=2-<@=;!D/2H/<!>Y-00G?L/2!F/0!E=1/0!>YGD12-<@=;h!/<!F-! FYGZ-D=2-<@=;A!
V1-F@<G!>/!F-!Z-D/12!.G;G2G/!D/2H/<!0=1Z/;<!>/!2G?1DG2/2!1;/!/-1!?=;>/;0G/! !
01XX@0-HH/;<!GD12G/!D=12!e<2/!2/n/<G/!0-;0!>-;./2!>-;0!FY/;Z@2=;;/H/;<A!3F! K-@;</;-;?/!>/0!@;0<-FF-<@=;0!?=HDF/C/A!
/C@0</!>@XXG2/;<0!<[D/0!>YGZ-D=2-</120A!:=1<!>Y-E=2>h!F/!H=>IF/!>YGZ-D=2-</12! !
F/!DF10!0@HDF/!?=;0@0</!/;!1;!E-?!F-2./!/<!>/!X-@EF/!D2=X=;>/12h!V1@!X-Z=2@0/! 4-@00/!>/0!E=1/0!<2I0!?=;?/;<2G/0!/;!
FYGZ-D=2-<@=;!;-<12/FF/!>/!FY/-1!?=;</;1/!>-;0!F/0!E=1/0!>YGD12-<@=;!V1@![! D=FF1-;<!W!2/?[?F/2!i!2@0V1/!F@G!-1!0<=?]-./!
0=;<!DF-?G/0A!3F!/C@0</!G.-F/H/;<!>/0!GZ-D=2-</120!1<@F@0-;<!1;/!G;/2.@/! /<!W!FYGZ-?1-<@=;!>/!E=1/0!>@</!
bGF/?<2@V1/!D-2!/C/HDF/c!D=12!-??GFG2/2!FYGZ-D=2-<@=;!D-2!>/0!?[?F/0!01??/00@X0! q!>-;./2/10/0!rA!
>/!?L-1XX-./!/<!>/!2GX2@.G2-<@=;A!9/0!GZ-D=2-</120!D2=>1@0/;<!>/!FY/-1! !
>@0<@FFG/h!GD12G/!/<!D2e</!W!e<2/!2/n/<G/A!4-!DF1D-2<!>/0!0<-<@=;0!>YGD12-<@=;! 6=;!-DDF@?-EF/!
>@0D=0/;<!>Y1;!GZ-D=2-</12A!

(/Z1/!>/!FY-?<@=;!M;Z!$$^!i!FY-?<@=;!/0<!?Ff<12G/A!4-!0=?@G<G!a5P:M(N!;Y-!D-0!F/0!2/00=12?/0!H-<G2@/F0!
/<!</?L;@V1/0!D=12!>GD=FF1/2!/FF/+HeH/!F/0!/-1C!D=FF1G/0!D-2!FY-?<@Z@<G!@;>10<2@/FF/!>/!F-!0=?@G<GA!4/!
2/?=120!W!>/0!D2/0<-@2/0!/C<G2@/120!-.2GG0!/0<!?=;0/2ZGA!

?*H -%"(6'2)%"*+
!

DE!F!123!.4/+0-3!8(.-+6+*23!0-/!*/*!7*.(+3*23!1.-3!(23!/2,83G!J/1C!-?<@=;0!=;<!G<G!2/?=;>1@</0A!P;/!
-?<@=;!-!G<G!?Ff<12G/!01@</!W!FYG<1>/!2G-F@0G/A!!

4Y-?<@=;! M;Z! $"$! /0<! 1;/! D2@=2@<G! D=12! FY-;;G/!


&$&$A!MFF/!0Y@;0?2@<!>-;0!F/0!-?<@=;0!Z1/0!F=20!>1!
.2/;/FF/! >/! FY/;Z@2=;;/H/;<! 2G-F@0G! /;! &$"*A!
4/! E1<! /0<! >Y1<@F@0/2! >/0! H-<@I2/0! D2/H@I2/0!
@001/! >/! F-! E@=H-00/! bM;/2.@/! >@</!
2/;=1Z/F-EF/c!DF10!<f<!V1/!?/FF/0!D2=Z/;-;<!>/!
FY1<@F@0-<@=;! >YL[>2=?-2E12/A! 4/0! /;n/1C!
?=;?/2;/;<!FY1<@F@0-<@=;!>/0!H-<@I2/0!D2/H@I2/0!
;=;! 2/;=1Z/F-EF/0! /<! F-! D=FF1<@=;! ?-2E=;/!
bD2=>1?<@=;! F=20! >/! F-! <2-;0X=2H-<@=;! >1!
DG<2=F/!/<!?-D<-<@=;!D-2!F/0!ZG.G<-1C!DF-;<G0cA!
!
!

'-./!B!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!

H* <C;!I!-,A!CD+;@B+@DJ@FK+!DA@1D@+@A+@KA@1D@*+
!

H*?* G.+94$L'4>.+M+N$%)&*+
!
4-! </?L;=F=.@/! >1! H-2V1-./! W! X2=@>! /0<! -1n=12>YL1@! X@-EF/A! MFF/! D/2H/<! >Y=D<@H@0/2! F/0!
D2=?/00! >Y@HD2/00@=;h! =XX2@2! >/! ;=1Z/FF/0! D=00@E@F@<G0! .2-DL@V1/! /<! -HGF@=2/2! FY@HD-?<!
/;Z@2=;;/H/;<-F/!<-;<!/;!</2H/!>/!D2=?/00!V1/!D2=>1@<A!
4-!>=212/!W!X2=@>!/0<!-DDF@V1G/!012!F/!
01DD=2<!bD-D@/2!?=1?LGc!-1!H=[/;!>/!
?=FF/!F@V1@>/A!J-;0!?/!?-0h!Fd->LG0@X!/0<!
<2-;0XG2G!012!F/!D-D@/2!>-;0!F-!D2/H@I2/!
1;@<G!>d@HD2/00@=;A!4-!>=212/!W!X2=@>!/0<!
/;01@</!>GD=0G!012!F/!D-D@/2A!4Y->LG0@X!
-DDF@V1G!D2G?G>/HH/;<!<2-;0X/2<!F-!
HG<-FF@0-<@=;!>1!!X@FH!Z/20!F/!01DD=2<A!4/!
2/0</!bF/!D=F[/0</2c!/0<!/;2=1FG!D1@0!H@0! !
-1!2/E1<A!
5Z-;<-./0!i! 3;?=;ZG;@/;<0!i!
- J=212/!/<!@HD2/00@=;!/;!F@.;/A! - 4/0!D-D@/20!-Z/?!1;/!0<21?<12/!W!
- (G>1@<!F-!V1-;<@<G!>Y/;?2/! 012X-?/!=1Z/2</!bD-D@/20!;=;!
1<@F@0G/ub"cA! ?=1?LG0c!;/!D/1Z/;<!
- )D<@H@0/!F/!?[?F/!>/!Z@/!>1! H-FL/12/10/H/;<!D-0!-Z=@2!1;/!
D2=>1@<!bH/@FF/12/!2/?[?F-E@F@<Gc! X@;@<@=;!W!F-!>=212/!W!X2=@>!?-2!Fd@H-./!
ub&cA! @HD2@HG/!>@XXG2/2-@<!>d1;/!X/1@FF/!W!
- (G>1@<!F-!V1-F@<G!>/!>G?L/<0!ubBcA! Fd-1<2/A!'=12!F-!</?L;@V1/!>/!X@;@<@=;!W!
F-!>=212/!W!X2=@>h!1;!D-D@/2!?=1?LG!
>=@<!e<2/!1<@F@0G!/;!2-@0=;!>/!Fd->LG0@X!
F@V1@>/A!
- 3;->-D<G!D=12!F/0!012X-?/!-Z/?!1;!
X-@EF/!v!>/!>=212/A!
- 'F10!X2-.@F/!/<!H=@;0!E2@FF-;</!
- J@H@;1/!F-!2/0@0<-;?/!HI?-;@V1/!>/!
FY/<1@!
!

! !

'-./!D!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
!
b"c '=12! 2G-F@0/2! 1;! -0D/?<! HG<-FF@0G! 0=10! '2=?/00!?F-00@V1/!>/!HG<-FF@0-<@=;!i!
1;/!@HD2/00@=;!F/!D2=?/00!?F-00@V1/!?=;0@0</!W!
D/FF@?1F/2! 1;/! X/1@FF/! -Z/?! 1;! X@FH! D=F[/0</2! !
D1@0! W! @HD2@H/2! /;! 012@HD2/00@=;! 012! ?/!
D=F[/0</2A! 4/0! \=;/0! HG<-FF@0G/0! 0/2=;<!
@HD2@HG/0! >@2/?</H/;<h! F/0! \=;/0! =D-V1/0!
I2-19!J ! !!
0/2=;<!=D-?@X@G/0!.2w?/!W!>/0!EF-;?0!>/!0=1<@/;!
XF/C=! =1! .2=1D/A! 4/! H-2V1-./! W! X2=@>! D/2H/<!
:/@;</ ! ,F-;?! KG<-F!
:/@;</!

>/! ;/! DF10! HG<-FF@0/2! 012! <=1</! F-! X/1@FF/A! 4/0! HG<-FF@0G/!

2G0/2Z/0! >/! HG<-FF@0-<@=;! ;/! ;G?/00@</;<! >=;?!


DF10! >/! EF-;?! =D-?@X@-;<! /<! 1<@F@0/! F/! 01DD=2<! M;?2/0!b</@;</c!
D-D@/2A! !! )XX0/< !
,F-;?!=D-V1/!

!
'/FF@?1F-./!

9=FF/!
!
J=212/!W!X2=@>!i!

!
b&c )D<@H@0/!F/!?[?F/!>/!Z@/!>1!D2=>1@<A! 4/!>G0/;?2-./!?=;0@0</!W!>G?2=?L/2!F/0!D-2<@?1F/0!>d/;?2/!
M;! M12=D/h! F/0! ?=;</;-;<0! H1F<@?=1?L/0! 0=;<! >/!F-!012X-?/!>/0!X@E2/0!D1@0!W!F/0!GF@H@;/2!>/!F-!010D/;0@=;A!
D/1! =1! H-F! 2/?[?FG0A! 3F0! 2/D2G0/;</;<! >/0! '=12!>G0-;?2/2!1;!D-D@/2!@HD2@HGh!>@XXG2/;</0!G<-D/0!0=;<!
?/;<-@;/0! >/! H@FF@/20! >/! <=;;/0! >/! H-<G2@-1C! ;G?/00-@2/0!i!
D2G?@/1C! ;=;! Z-F=2@0G0! /;! X@;! >/! Z@/A! • >G?2=?L/2! Fd/;?2/! D-2! <2@<12-<@=;! b4/!
4Y@HD2/00@=;! >/Z@/;<! DF10! X-?@F/H/;<! >G?2=?L-./! /0<! F/! 2G01F<-<! >d1;/! -?<@=;! ?L@H@V1/! /<!
2/?[?F-EF/!.-2?/!W!i! HG?-;@V1/!>-;0!F/!D1FD/12Acl!
- 4-! 2G>1?<@=;! >1! ;=HE2/! >/! ?=1?L/! • GF@H@;/2!Fd/;?2/!D-2!F-Z-./!=1!XF=<<-<@=;!l!
D2G0/;<!012!F/0!H-<G2@-1C!bGF@H@;-<@=;!>1!
'M:ch! • >@0D/20/2!F/0!D-2<@?1F/0!;=;!GF@H@;G/0!l!
- 4Y1<@F@0-<@=;!>Y1;/!>=212/!-2./;<!.-2-;<@/! EF-;?L@2!F-!Dw</!0@!E/0=@;A!
D-2!F/0!X-E2@?-;<0!?=HH/!>G0+/;?2-EF/h! 4/!0?LGH-!?@+>/00=10!H=;<2/!1;!/C/HDF/!>/!E=1?F/!>/!
- 4-! >@H@;1<@=;! >/! F-! V1-;<@<G! >Y/;?2/! >G0/;?2-./A!
>GD=0G/!012!FY@HD2@HGA

Figure 2. Ligne de recyclage


!
Source : Les encres offset de labeur. Dossier, CERIG, 2001

'-./!H!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
bBc 'F10! >/! D/FF@?1F-./A! 4/! D2=?/00! >/!
D/FF@?1F-./! ?=;0=HH/! >/! FY/-1! /<! .G;I2/! >/0!
>G?L/<0! -V1/1C! V1@! >=@Z/;<! e<2/! 2/?[?FG0A! 4/!
D2=?/00! >/! H-2V1-./! W! ?L-1>! ;/! ?=;0=HH/!
D-0! >Y/-1A! N/1F! F/! X@FH! >/! >=212/! >=@<! e<2/!
2/?[?FG!?=HH/!D=12!1;!H-2V1-./!W!?L-1>A!

!
!

4-!>=212/!W!X2=@>!/0<!1;/!</?L;=F=.@/!@HD=2<-;</!V1@!>=@<!D/2H/<<2/!>/!>@Z/20@X@/2!/<!
=D<@H@0/2!F/0!D2=?/00!-?<1/F0A!4-!>@2/?<@=;!-!>G?@>G!>YG<1>@/2!F-!H@0/!/;!DF-?/!>1!H-2V1-./!W!
X2=@>!>-;0!F/!D2=?/00!>/!D2=>1?<@=;A!!

K4/+0-!L-:ME""!J!

5;-F[0/!>1!?[?F/!>/!Z@/!>Y1;!G<1@!2G-F@0G!>/!X-x=;!?F-00@V1/!/<!>Y1;!G<1@!2G-F@0G!/;!H-2V1-./!W!
X2=@>A!

N+(0/2!J!(/0D=;0-EF/!`NMA!

! !

'-./!$!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!

H*H* GO7P%6'#)%"+&.2+.">4>.9."#2+!93$)9+P.$#*+
!
4/!F-E/F!3HD2@H!Z/2<!X@C/!-1n=12>YL1@!>/!;=1Z/-1C!=En/?<@X0!-1C!@HD2@H/120A!

!
4Y/;0/HEF/!>/!?/0!;=1Z/FF/0!/C@./;?/0!-!G<G!D2@0!/;!?=HD</!

K4/+0-!L-:!E"#!J!;!N7+-4+82!?*-*7.(2!=!!
K@0/!/;!DF-?/!>Y1;!01@Z@!>/0!0=10+<2-@<-;<0!>/!X=2H/!@HD2@H-;</A!P;!
2/.@0<2/!-!G<G!H@0!/;!DF-?/!/<!1;/!2/Z1/!-!G<G!X-@</!-Z/?!F/0!0=10+<2-@<-;<0A!
I*39(/./!J!
B"v!>/!;=0!0=10+<2-@<-;<0!;/!>=;;/!D-0!0-<@0X-?<@=;!W!?/!?2@<I2/A!!
O*4+3+0-!J!
4Y-?<@=;!/0<!2/?=;>1@</!012!&$&$A! !
N+(0/2!J!(/0D=;0-EF/!`NMA!
K4/+0-!L-:!E"%!J!L:0(9/+0-!47+/>72!PQ#!
(/Z=@2!F/0!\=;/0!>/!2G</;<@=;A!
I*39(/./!J!
4YG<@V1/<-./!>/0!2G</;<@=;0h!/<!F/!0<=?]-./!>/0!>G?L/<0!=;<!G<G!2/Z1A!!
O*4+3+0-!J!
4Y-?L-<!>/!;=1Z/-1!E-?!>/!2G</;<@=;!/0<!D2GZ1!D=12!&$&$A! !
N+(0/2!J!(/0D=;0-EF/!`NMA!
K4/+0-!L-:!E"&!J!J!L:0(9/+0-!47+/>72!PQ%!
(/Z1/!>/!FY/;0/HEF/0!>/0!X@?L/0!>/!>=;;G/0!>/!0G?12@<G!-X@;!>Y@>/;<@X@/2!/<!
01E0<@<1/2!<=10!F/0!D2=>1@<0!<=C@V1/0!/<!9K(!>/!?-<G.=2@/!"A!
I*39(/./!J!
K@0/!/;!DF-?/!>Y1;!2/.@0<2/!>/0!/CD=0@<@=;0A! !
O*4+3+0-!J!
(G-F@0-<@=;!>/!F-!F@0</!>/0!D2=>1@<0!W!01E0<@<1/2A!
'2@=2@0-<@=;!/;!X=;?<@=;!>/!F-!X2GV1/;?/!>Y1<@F@0-<@=;!/<!>/!F-!V1-;<@<G!
?=HH-;>G/A!
N1E0<@<1<@=;!-Z/?!F/0!X=12;@00/120A! !
N+(0/2!J!(/0D=;0-EF/!`NMA!
!

'-./!"E!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!

H*Q* @#'&.+&.2+(R(6.2+&.+P).+.#+5)64"+(4$5%".*+

4/!E@F-;!?-2E=;/!>Y1;/!@HD2/00@=;!/0<!>/Z/;1!1;!?2@<I2/!>/!0GF/?<@=;!D-2!F/0!0/2Z@?/0!-?L-<A!_2-?/!W!
F-! D2@0/! /;! ?=HD</! >/! ?/! X-?</12h! ?L-V1/! 0=?@G<G! /0<! ?-D-EF/! >/! H@;@H@0/2! 0=;! @HD-?<!
/;Z@2=;;/H/;<-F!/;!2G-F@0-;<!>/0!?L=@C!G?=+2/0D=;0-EF/0A!

4-!0=?@G<G!a5P:M(N!0Y/;.-./!W!X=12;@2!F=20!>/!F-!DL-0/!>/!?=;?/D<@=;!1;/!;=</!?-2E=;/A!9/!?2@<I2/!
X-?<1/F! D/2H/<<2-! >/! ?=HD-2/2! FY@HD-?<! >Y1;/! @HD2/00@=;! /;! X=;?<@=;! >1! D-D@/2! 1<@F@0Gh! >1! D2=?/00!
2G-F@0G!/<!>/0!X@;@<@=;0!0=1L-@<G/0A!

9Y/0<!D=12V1=@!F-!0=?@G<G!a5P:M(N!0Y/;.-./!>-;0!F-!F-EGF@0-<@=;!9F@H-</9-F?A!

4/! ?-F?1F-</12! /12=DG/;! 9F@H-</9-F?! -! G<G! ?=;x1! D=12! D=1Z=@2h! >-;0! 1;/! -DD2=?L/! 9[?F/! >/! O@/h!
/0<@H/2! F/0! GH@00@=;0! >/! 9)&! .G;G2G/0! D-2! 1;! @HD2@HGA! 4Y=En/?<@X! >/! ?/! ?-F?1F! /0<! >Y@>/;<@X@/2! F/0!
D2@;?@D-F/0!0=12?/0!>YGH@00@=;0!-X@;!>/!>GX@;@2!>/0!-?<@=;0!>/!2G>1?<@=;!D=1Z-;<!e<2/!H@0/0!/;!DF-?/!
D-2! FY-?L/</12! >Y@HD2@HG0! /<! FY/;<2/D2@0/! .2-DL@V1/A! 4Y/0<@H-<@=;! >/0! GH@00@=;0! >Y1;! @HD2@HG! /0<!
E-0G/! 012! F-! ?=;0@>G2-<@=;! >/! >=;;G/0! 2/F-<@Z/0! W! FY/;<2/D2@0/! .2-DL@V1/! /;! -0012-;<! FY@HD2/00@=;!
b?=;0=HH-<@=;! G;/2.G<@V1/h! >GDF-?/H/;<! >1! D/20=;;/Fmc! /<! 012! F-! ?=;0@>G2-<@=;! >/! >=;;G/0!
D2=D2/0! W! FY@HD2@HG! ?=;0@>G2G! b?L=@C! >1! D-D@/2h! /;?2-./h! <[D/! >/! X@;@<@=;mcA!
9F@H-</9-F?! /0<! 1;! ?-F?1F-</12! /12=DG/;! V1@! @;<I.2/! 1;/! E-0/! >/! >=;;G/0! /12=DG/;;/! ?=HH1;/!
1<@F@0G/! /<! H@0/! W! n=12! D-2! FY/;0/HEF/! >/0! H/HE2/0! >1! ?=;0=2<@1H! /12=DG/;A! J/! ?/<</! H-;@I2/! F/!
?F@/;<!D/1<!Z-F=2@0/2!0/0!?L=@C!.2w?/!W!1;/!H/012/!2/?=;;1/!>-;0!FYM12=D/!/;<@I2/A!

K4/+0-!L-:!ME#'!J!
K@0/!/;!DF-?/!>1!F=.@?@/F!9F@H-</9-F?A! !
!
'@F=</!i!(/0D=;0-EF/!`NMA!
JGF-@0!S@;!T1@FF/<!
!

H*S* -%"(6'2)%"*+
4-!>@2/?<@=;!-!2/Z1!F/0!H=>@X@?-<@=;0!>/0!/;n/1C!@;</2;/!=1!/C</2;/!D=1Z-;<!-XX/?</2!F/!0[0<IH/!>/!
H-;-./H/;<!>/!FY/;Z@2=;;/H/;<A!9@;V!-?<@=;0!bM;Z!+""h!"&h!"Bh!"Q!/<!&%c!>=@Z/;<!D/2H/<<2/!>/!
H-@<2@0/2!?/0!GZ=F1<@=;0A!

! !

'-./!""!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!

T*+8@1IC1<@D-@+HU?V*+
!

T*?*+D%"W(%"N%$9)#72+.#+4(#)%"2+(%$$.(#)P.2*+
4-!0=?@G<G!a5P:M(N!0Y-DD1@/!012!F/0!/CD/2<@0/0!>Y=2.-;@0H/!-.2G/2!D=12!?=;<2fF/2!/<!-HGF@=2/2!F/0!
@;X2-0<21?<12/!/<!GV1@D/H/;<!V1@!D/2H/<</;<!>/!D2GZ/;@2!<=1</!D=FF1<@=;!-??@>/;</FF/A!9Y/0<!>-;0!?/!
?->2/! V1/! F-! N35yOz! /0<! @;</2Z/;1/! 012! F/! 0@</A! bN[;>@?-<! 3;</2?=HH1;-F! D=12! Fd5HG;-./H/;<!
y[>2-1F@V1/!>/!F-!O-FFG/!>/!FdzZ/<</cA!:2=@0!;=;+?=;X=2H@<G0!=;<!G<G!>G</?<G/0!/<!?=22@.G0A!

(/Z1/!>/0!;=;+?=;X=2H@<G0!/<!-?<@=;!?=22/?<@Z/0A!
!

T*?*?*+G4+9)2.+."+(%"N%$9)#7+&'+2734$4#.'$+&O=R&$%(4$5'$.*+
L4.7/!J!
6=</!>/!?-F?1F!>/!>@H/;0@=;;/H/;<!>1!E-00@;!>/!2G</;<@=;!;=;!<2-;0H@0A!
I*.(+3*!J!
,-00@;!>/!B%7A%!HB!8!;=</!>/!?-F?1F!X=12;@!
L/./!J!
M?-2<!F/ZG!D-2!F-!N35yOz!
!
!

T*?*H*+G4+9)2.+."+(%"N%$9)#7+&.+64+X%".+&.+2#%(Y4>.+&.2+&7(=.#2+."+4##."#.+&.+$.(R(64>.*+
L4.7/!J!
4-!\=;/!>/!0<=?]-./!>/0!>G?L/<0!W!2/?[?F/2!D2G0/;</!>/0!2@0V1/0!>/!D=FF1<@=;!
-??@>/;</FF/A!
I*.(+3*!J!
(GX/?<@=;!>/!F-!\=;/A!MZ-?1-<@=;!>/0!>G?L/<0!!
L/./!J!
M?-2<!F/ZG!D-2!F-!N35yOz! !
!

T*?*T*+G4+9)2.+."+(%"N%$9)#7+&'+$72.4'+&.+$7('37$4#)%"+&.2+.4'/+36'P)46.*+
L4.7/!J!
_2@FF/0!>/0!/-1C!DF1Z@-F/!E=1?LG/0A!
I*.(+3*!J!
_2@FF/0!/<!2G0/-1C!2G?12G/0A!
L/./!J!
M?-2<!F/ZG!D-2!F-!N35yOz!
!
!

T*?*Q*+-%"(6'2)%"*+
4-!0=?@G<G!a5P:M(N!-!F/ZG!<=10!F/0!G?-2<0!2/F/ZG0!D-2!F-!N35yOzA!9/!<2-Z-@F!-!G<G!
2G?=HD/;0G!D-2!F-!>GF@Z2-;?/!>Y1;!?/2<@X@?-<!>/!?=;X=2H@<G!/<!>/!FY-1<=2@0-<@=;!
>Y1<@F@0/2!F/!F=.=!q!M<-EF@00/H/;<!?=;X=2H/!&$&$!rA!
5X@;!>/!DG2@;@0/2!?/!<2-Z-@F!&!-?<@=;0!=;<!G<G!>G?@>G/0A!
!

K4/+0-!L-:!"'!J!!
K@0/!/;!DF-?/!>Y1;!2/.@0<2/!>/!01@Z@!>/!FY/;<2/<@/;!>1!0GD-2-</12!>YL[>2=?-2E12/!/<!>1! !
2G0/-1!>Y/-1!DF1Z@-F/A!!
N*7+01+4+/*!123!-2//0R.?23!J!/-1!DF1Z@-F/h!0GD-2-</120!<=10!F/0!-;0A!
I2380-3.<(2!J!K-@;</;-;?/A!
!

K4/+0-!L-:!"B!J!
5X@;!>/!<2-?/2!/<!01@Z2/!F/0!G?-2<0!/;Z@2=;;/H/;<-1Ch!?/1C+?@!0/2=;<!/;2/.@0<2G!>-;0!
1;!2/.@0<2/!>/!01@Z@!>/0!G?-2<0!
I2380-3.<(2!J!(/0D=;0-EF/!`NM!
!

'-./!"#!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!

T*H*+172'6#4#+&.+64+2'$P.)664"(.+.#+9.2'$.2*+
!

T*H*?*+A456.4'+&.+5%$&+&'+3$%(.22'2+@"P)$%"".9."#*+
!
O.-3!@92(!<9/! T7*@92-42!12!(.!
S-1+4./2973!
,23972!

U97:2+((27!(2!UVW!2/! K--*2!
3).339727!@9).949-2!
6E2/!>d-1>@<!@;</2;/!DF-;@X@G!#!6E2/!>d-1>@<!@;</2;/!2G-F@0GA!
1*:+./+0-!,.X2972!
-).88.7.+332G!

N7*:2-+7!(23! Y7+,23/72!
6=HE2/!>Y-F/2</!/<!>YG?-2<!/;Z@2=;;/H/;<-1CA! 80((9/+0-3!
.44+12-/2((23G!

9=;0=HH-<@=;!M;/2.@/!MF/?<2@?@<G!o!_-\! ! Y7+,23/72!

v!D-2!2-DD=2<!W!F-!<=;;/!>/!D-D@/2!1<@F@0G/A!

9=;0=HH-<@=;!_-\A! Y7+,23/72!

v!D-2!2-DD=2<!W!F-!<=;;/!>/!D-D@/2!1<@F@0G/A!

9=;0=HH-<@=;!MF/?<2@?@<GA! Y7+,23/72!

v!D-2!2-DD=2<!W!F-!<=;;/!>/!D-D@/2!1<@F@0G/A!

9=;0=HH-<@=;!>Y-F?==F!@0=!D2=D[F@V1/A! V.+/7+32!12!(.! Y7+,23/72!


40-30,,./+0-!2-!
v!D-2!2-DD=2<!W!F-!V1-;<@<G!>/!D-D@/2!-?L/<G/A! 7233097423!-./972((23!!

9=;0=HH-<@=;!U<2-H-CA! V.+/7+32!123!Z[\! Y7+,23/72!

v!D-2!2-DD=2<!W!F-!V1-;<@<G!>/!D-D@/2!-?L/<G/A!

K-@<2@0/!>/0!>G?L/<0A! V.+/7+32!12!(.! V0+3!


40-30,,./+0-!2-!
_w?L/!v!i!V1-;<@<G!D-D@/2!2/?[?FG!D-2!2-DD=2<!W!F-!V1-;<@<G!-?L/<G/! 7233097423!-./972((23!

(/?[?F-./!i!v!>/!D-D@/2!2/?[?FG!#!-1!J3,! V.+/7+32!12!(.!
870194/+0-!12!
9=1<!>1!<2-@</H/;<!>/0!J3,!i!v!>1!?=1<!>/!<2-@</H/;<!>/0!J3,!D-2!2-DD=2<!-1!95! 1*4]2/3!

9=;0=HH-<@=;!/-1A! V.+/7+32!12!(.! Y7+,23/72!


40-30,,./+0-!2-!
v!D-2!2-DD=2<!W!F-!<=;;/!>/!D-D@/2!1<@F@0G/A! 7233097423!-./972((23!

N.7/+4+827!A!(.! K--*2!
870,0/+0-!123!
,@=>@Z/20@<G!SN9A! .4/+:+/*3!TUZ!2-!
6.:297!12!(.!
`1-;<@<G!/;!<=;;/!>/!D-D@/2!SN9!#!D-D@/2!?=HH-;>GA! <+01+:273+/*!2/!19!
1*:2(0882,2-/!
197.<(2G!

JG?L/<0!3HD2@H/2@/!8!3K'(3K!OM(:! V.+/7+32!12!(.! Y7+,23/72!


870194/+0-!12!
M;!<=;;/0! 1*4]2/3!!

! !

'-./!"%!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
!

T*H*H*+<4)#$)2.+&'+3$%(.22'2+."P)$%"".9."#*+
!

!"#"#"$"%&'()*+(,*-.%/0+%(1/*,+%0.2*3-..040.,(15"%
!

I*39(/./!#E"$!J! [<X24/+6! K-.(R32!


4Y-1>@<!@;</2;/!0Y-DD1@/!1;@V1/H/;<!012!F/!2/0D/?<!>1!2GXG2/;<@/F!
SN9A!
4-!>@2/?<@=;!0=1L-@</!0Y-0012/2!V1/!<=1</0!F/0!2I.F/0!0=;<!?=;;1/0!
"! "! /<!-DDF@V1G/0A!
P;!>/1C@IH/!-1>@<!1<@F@0-;<!F/!2GXG2/;<@/F!3HD2@H!Z/2<!0/2-!
2G-F@0GA!
O*4+3+0-!J!K=>@X@?-<@=;!>/!FY=En/?<@X!W!&!bSN9!#!3HD2@H!O/2<cA!
!

!"#"#"#"%67(3,%0.2*3-..040.,(15"%
!

I*39(/./!#E"$!J! [<X24/+6! K-.(R32!


4/0!B!G?-2<0!=;<!G<G!<2-@<G0A!
B! $! &!-?<@=;0!>Y-HGF@=2-<@=;!=;<!G<G!=1Z/2</0!D=12!D2GZ/;@2!?/!<[D/!
>/!>@0X=;?<@=;;/H/;<!9S!q!?=;?F10@=;!BA"AQ!r!
!

! !

'-./!"&!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
!

T*H*T*+-%"2%994#)%"+7".$>7#)L'.*+
!

!"#"!"$%8-.+-44(,*-.%'.039',*:10%9)-;()0"%
:-EF/-1!>/!E=2>!.G;G2-F!i!

!
!

9L=@C!>/!FY@;>@?-</12!i!4/!E1<!/0<!>/!D=1Z=@2!?=HD-2/2!F-!D/2X=2H-;?/!G;/2.G<@V1/!>Y1;/!-;;G/!012!
FY-1<2/!W!<2-Z-@F!G.-FA!J/1C!<[D/0!>Y@;>@?-</120!/C@0</;<!i!FY1;!D-2!2-DD=2<!-1!95h!FY-1<2/!D-2!2-DD=2<!W!
F-!<=;;/!>/!D-D@/2!1<@F@0GA!4/!95!/0<!>@2/?</H/;<!F@G!W!FY-?<@Z@<G!/<!-1C!<[D/0!>/!D2=>1@<0!2G-F@0G0A!'-2!
?=;<2/!1;/!E-@00/!>/!95!D/1<!e<2/!>1!0=@<!W!1;/!E-@00/!>Y-?<@Z@<G!0=@<!W!1;/!>@H@;1<@=;!>/0!D2@C!>/!
Z/;</A! 4/! 2-DD2=?L/H/;<! W! F-! <=;;/! >/! D-D@/2! 1<@F@0G! D/2H/<! F1@! >/! 0/! 2GXG2/2! W! 1;! G<-F=;! V1@! ;/!
>GD/;>! D-0! >/0! D2@C! >/! Z/;</A! 6G-;H=@;0! @F! /C@0</! 1;! E@-@0! 2/F-<@X! -1! D2=?/00A! 4/0! D2=?/00! 1<@F@0/;<!
DF10!=1!H=@;0!>/!H-?L@;/0!/<!>/!<=120!H-?L@;/0A!b6=HE2/!>/!D=0/!W!F-!X/1@FF/h!@HD2/00@=;!/;!"!=1!&!
D-00-./h!2/D2@0/h!.-1X2-./!/<!>G?=1D/!/;!HeH/!</HD0!=1!0GD-2G!mcA!J-;0!?/!?-0h!F-!?=HD-2-@0=;!-1!
95!/0<!DF10!D/2<@;/;</!?-2!DF10!1;!D2=?/00!/0<!?=HDF/C/!/<!DF10!F/!D2@C!>/!Z/;</!/0<!GF/ZGA!J=;?h!0/1F!
FY-;-F[0/!?=1DFG/!>/!?/0!>/1C!@;>@?-</120!D/2H/<!>/!n1./2!>/!F-!D/2X=2H-;?/!G;/2.G<@V1/A!
!

L-27?+2! I*39(/./!#E"$!J! [<X24/+6! K-.(R32!


J-;0!F/0!>/1C!?-0!FY@;>@?-</12!
{|!#!95! "7$A&*! "*BAR"! H=;<2/!1;/!D/2</!>/!
D/2X=2H-;?/A!4Y-;-F[0/!>/0!
@;>@?-</120!GF/?<2@?@<G!/<!.-\!
{|!#!:'! "&%*A%^! "&"RA$"! >=@Z/;<!D/2H/<<2/!>/!?=HD2/;>2/!
?/<!G?-2<!>/!D/2X=2H-;?/A!!

'-./!"'!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
!

!"#"!"#"%8-.+-44(,*-.%0.%')07,3*7*,'"%
!

N097!9-2!40-30,,./+0-!/0/.(2!12!#!$#H!$E#!^_`!()*(24/7+4+/*!7287*32-/2!#!''%!D$'!a_!30+/!HD!F!12!
(.!40-30,,./+0-!*-27?*/+@92!/0/.(2G!!

:-EF/-1!>/!E=2>!?=;0=HH-<@=;!GF/?<2@V1/!i!

!
!

L-27?+2! I*39(/./!#E"$!J! [<X24/+6! K-.(R32!


J-;0!F/0!>/1C!?-0h!FY@;>@?-</12!
{|!#!95! "R%A%"! "%%A%"!
H=;<2/!1;/!D/2</!>/!
D/2X=2H-;?/A!
O*4+3+0-!J!
K4/+0-!L-:!"D!J!
{|!#!:'! "$7RA%&! "$^7A&7!
P;/!-;-F[0/!>/!F-!?=;0=HH-<@=;!
GF/?<2@V1/!>=@<!e<2/!2G-F@0G/A!!
N+(0/2!J!K-@;</;-;?/A!
!

'-./!"B!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
!"#"!"!"%8-.+-44(,*-.%/0%9(<"%
!

4/!.-\!/0<!D2@;?@D-F/H/;<!1<@F@0G!D=12!?L-1XX/2!F/0!F=?-1C!/<!FY/-1A!4-!0=?@G<G!a5P:M(N!;/!FY1<@F@0/!;@!
>-;0!0/0!D2=?/00!;@!D=12!X-@2/!X=;?<@=;;/2!F/!D-2?!H-?L@;/A!

9/<!@;>@?-</12!>=@<!e<2/!?=1DFG!-1C!?=;>@<@=;0!?F@H-<@V1/0!>/!FY-;;G/A!3F!/0<!>=;?!>@XX@?@F/H/;<!
@;</2D2G<-EF/!/;!FYG<-<A!

:-EF/-1!>/!E=2>!?=;0=HH-<@=;!/;!.-\!i!

!
!

L-27?+2! I*39(/./!#E"$!J! [<X24/+6! K-.(R32!


J-;0! F/0! >/1C! ?-0h! FY@;>@?-</12!
H=;<2/! 1;/! D/2</! >/!
{|!#!95! &QAB*! "^A$7!
D/2X=2H-;?/A!
O*4+3+0-!J!
K4/+0-!L-:!"H!J!
P;/!-;-F[0/!>/0!D2@;?@D-F/0!D/2</0!
{|!#!:'! "R"A$R! "&RA*Q! >/! ?L-F/12! /<! DF-;! >Y@0=F-<@=;!
<L/2H@V1/A!
N+(0/2!J!K-@;</;-;?/A!
!

'-./!"D!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
T*H*Q+<4)#$)2.+&.2+79)22)%"2+&.+-CE*+
!

4/0! ?=HD=0G0! =2.-;@V1/0! Z=F-<@F0! 2/.2=1D/;<! 1;/! H1F<@<1>/! >/! 01E0<-;?/0h! V1@! D/1Z/;<! e<2/! >d=2@.@;/!
E@=.G;@V1/! b;-<12/FF/c! =1! -;<L2=D@V1/! bL1H-@;/cA! 4/0! DF10! ?=;;10! 0=;<! F/! E1<-;/h! F/! <=F1I;/h! FdG<L-;=Fh!
Fd-?G<=;/!/<!F/!E/;\I;/!V1/!FY=;!2/<2=1Z/!>-;0!FY@;>10<2@/h!F/!DF10!0=1Z/;<!0=10!F-!X=2H/!>/!0=FZ-;<0!=2.-;@V1/0!
bD-2!/C/HDF/h!>-;0!F/0!D/@;<12/0!=1!F/0!/;?2/0cAN=10!F/!0@.F/!9)Oh!@F!/0<!0=10+/;</;>1!>-;0!?/0!D-./0!9)O6K!
b9=HD=0G0!=2.-;@V1/0!Z=F-<@F0!;=;!HG<L-;@V1/0cA!
!

4-!>@2/?<@Z/!/12=DG/;;/!>1!""!H-20!"777h!2/F-<@Z/!W!F-!2G>1?<@=;!>/0!GH@00@=;0!>/!9)O!>1/0!W!Fd1<@F@0-<@=;!>/!
0=FZ-;<0! =2.-;@V1/0! >-;0! ?/2<-@;/0! -?<@Z@<G0! /<! @;0<-FF-<@=;0h! >GX@;@<! 2G.F/H/;<-@2/H/;<! F/0! ?=HD=0G0!
=2.-;@V1/0!/<!F/0!?=HD=0G0!=2.-;@V1/0!Z=F-<@F0!i!
+1;!?=HD=0G!=2.-;@V1/!?=;?/2;/!<=1<!?=HD=0G!?=;</;-;<!-1!H=@;0!FdGFGH/;<!>/!?-2E=;/!/<!1;!=1!DF10@/120!
>/0!GFGH/;<0!01@Z-;<0!i!L[>2=.I;/h!L-F=.I;/h!=C[.I;/h!0=1X2/h!DL=0DL=2/h!0@F@?@1H!=1!-\=</h!W!Fd/C?/D<@=;!>/0!
=C[>/0!>/!?-2E=;/!/<!>/0!?-2E=;-</0!/<!E@?-2E=;-</0!@;=2.-;@V1/0!l!
+1;! 9)O! ?=;?/2;/! <=1<! ?=HD=0G! =2.-;@V1/! -[-;<! 1;/! D2/00@=;! >/! Z-D/12! >/! $h$"! {'-! =1! DF10! W! 1;/!
</HDG2-<12/!>/!&7Bh"%!{h!=1!-[-;<!1;/!Z=F-<@F@<G!?=22/0D=;>-;</!>-;0!F/0!?=;>@<@=;0!>d1<@F@0-<@=;!D-2<@?1F@I2/0A!
!

4/0!@HD-?<0!>/0!9)O!i!
!

KG!U97!()2-:+70--2,2-/G!
!

J-;0! FY-<H=0DLI2/h! F/0! ?=HD=0G0! =2.-;@V1/0! Z=F-<@F0! 0/! >G.2->/;<! /<! ?=;<2@E1/;<! W! D/2<12E/2! F/0! GV1@F@E2/0!
?L@H@V1/0!-Z/?h!D=12!?=;0GV1/;?/h!F-!X=2H-<@=;!=1!FY-??1H1F-<@=;!>Y=\=;/A!4/0!9)O!0=;<!>/0!D=FF1-;<0!>@2/?<0!
D=12! F/0! L=HH/0! /<! F/0! ZG.G<-1Ch! /<! ?=;<2@E1/;<! G.-F/H/;<! W! F-! D=FF1<@=;! =FX-?<@Z/A! 3F0! 0=;<! -100@! >/0!
D2G?120/120! >/! FY=\=;/! >-;0! FY-@2! /;! D2=Z=V1-;<! >/! ;=HE2/10/0! 2G-?<@=;0! ?L@H@V1/0A! 9/<</! 012D2=>1?<@=;!
>Y=\=;/!-!1;!/XX/<!;GX-0</!012!F-!ZG.G<-<@=;!b-F<G2-<@=;!>/!F-!2G0@0<-;?/!>/0!ZG.G<-1Ch!D-2!/C/HDF/c!/<!-??GFI2/!
F-! >G.2->-<@=;! >/! ?/2<-@;0! H-<G2@-1C! ?=HH/! F/! DF-0<@V1/A! 9/0! 2G-?<@=;0! ?L@H@V1/0! D2=Z=V1/;<! 1;! /XX/<! >/!
0/22/!->>@<@=;;/Fh!/;!?-D<-;<!F/0!@;X2-2=1./0!2GXFG?L@0!D-2!F-!012X-?/!>/!F-!:/22/!-1!;@Z/-1!>/!F-!<2=D=0DLI2/A!!
!

bG!U97!(.!3.-/*G!
!

4/0!9)O!=;<!1;!>=1EF/!/XX/<!012!F-!0-;<G!i!
!

- P;!/XX/<!@;>@2/?<!/;!-.@00-;<!012!FY=\=;/h!/;!<-;<!V1/!D2G?120/120!>/!?/!.-\!>-;0!FY-@2!i!F/0!
?=;0GV1/;?/0!>/!?/<</!012D2=>1?<@=;!>Y=\=;/!D=12!F-!0-;<G!Z-2@/;<!0/F=;!F/!;@Z/-1!>Y/CD=0@<@=;h!F/!
Z=F1H/!>Y-@2!@;L-FG!/<!F-!>12G/!>/!FY/CD=0@<@=;A!'F10@/120!H-;@X/0<-<@=;0!0=;<!D=00@EF/0!i!<=1Ch!@;?=;X=2<!
<L=2-?@V1/h!.e;/!>=1F=12/10/!/;!?-0!>Y@;0D@2-<@=;!D2=X=;>/h!H-@0!-100@!/00=1XXF/H/;<h!@22@<-<@=;!
;-0-F/h!=?1F-@2/!/<!>/!F-!.=2./A!9/0!/XX/<0!>@XXI2/;<!<=1</X=@0!/;!X=;?<@=;!>/0!@;>@Z@>10!/<!>/!FYG<-<!>/!
0-;<G!l!
- P;!/XX/<!>@2/?<!/;!<-;<!V1/!01E0<-;?/!<=C@V1/h!n10V1YW!>/0!;@Z/-1C!>/!.2-Z@<G!/C<2eH/0!n10<@X@-;<!1;/!
?F-00@X@?-<@=;!2@.=12/10/A!4/0!9)O!F/0!DF10!;=?@X0h!?=HH/!F/!E/;\I;/h!0=;<!?F-00G0!9K(!b?-;?G2=.I;/h!
H1<-.I;/!/<!2/D2=<=C@V1/cA!3F0!X=;<!FY=En/<!>Y1;/!2G.F/H/;<-<@=;!2/;X=2?G/h!;=<-HH/;<!>-;0!F/!?=>/!
>1!<2-Z-@Fh!>=;<!F/0!>@0D=0@<@=;0!@HD=0/;<!W!FY/HDF=[/12!>/!F/!01E0<@<1/2h!?/!V1@!D2GZ-1<!012!<=1</0!F/0!
-1<2/0!H/012/0!>/!2G>1?<@=;!>1!2@0V1/!b-2<@?F/!(AQQ"&+%7!/<!01@Z-;<0cA!
0,.$12'3'45676'
!

4Y36(N!b@;0<@<1<!;-<@=;-F!>/!2/?L/2?L/!D=12!F-!0-;<Gc!-!D1EF@G!1;/!;=</!q!6J!&&*%!MO54P5:3)6!JMN!JM,3:!
JYMK3NN3)6!JMN!9)O!rA!MFF/!?=;0/@FF/!1;/!012Z/@FF-;?/!>/0!V1-;<@<G0!>/!0=FZ-;<!>/!;/<<=[-./!1<@F@0G/0!/<!@;Z@</!
F/0!/;<2/D2@0/0!W!>@H@;1/2!F/12!?=;0=HH-<@=;A!!
!

4-!.G;G2-<@=;!>/0!9)O!>-;0!FY@HD2@H/2@/!0/!X-@<!D2@;?@D-F/H/;<!F=20!>/!>/1C!DL-0/0!>@0<@;?</0!i!
- 4-!DL-0/!>Y@HD2/00@=;!i!D=FF1<@=;!>1/!W!FY-F?==F!@0=D2=D[F@V1/!?=;</;1!>-;0!F-!0=F1<@=;!>/!H=1@FF-./A!
- 4-!DL-0/!>/!;/<<=[-./!i!D=FF1<@=;!>1/!-1C!0=FZ-;<0!>/!;/<<=[-./A!
!

4-!0=?@G<G!a5P:M(N!0Y/0<!/;.-.G/!>-;0!?/<</!>GH-2?L/!i!
+!4/!<-1C!>Y-F?==F!>-;0!F/0!0=F1<@=;0!>/!H=1@FF-./!-!G<G!-E-@00G!W!^v!-1!F@/1!>/!"&vA!
+!4-!?=;0=HH-<@=;!/;!-F?==F!@0=D2=D[F@V1/!/0<!01@Z@A!
+!4-!?=;0=HH-<@=;!/;!0=FZ-;<!>/!;/<<=[-./!bU<2-H-Cc!/0<!01@Z@A!

'-./!"H!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
!"#"="$"%8-.+-44(,*-.%/>()7--)%*+-%?3-?@)*:10"%
!

:-EF/-1!>/!E=2>!i!

"R$$$! ?=;0=HH-}=;!30=D2=!#-;!
"Q$$$!

"&$$$!

:=;;/!5F?==F!
"$$$$!

^$$$!

R$$$!

Q$$$!

&$$$!

$!
&$"%! &$"R! &$"*! &$"^! &$"7! &$&$!

<=<-F!#!-;! )En/?}X!>/!2G>1?}=;!!

?=;0=HH-}=;!30=D2=!#:=;;/!D-D@/2!
"$h$$!
7h$$!
^h$$!
:=;;/!5F?==F!#!:=;;/!D-D@/2!

*h$$!
Rh$$!
%h$$!
Qh$$!
Bh$$!
&h$$!
"h$$!
$h$$!
&$"%! &$"R! &$"*! &$"^! &$"7! &$&$!

!
I*39(/./!#E"$!J! [<X24/+6! K-.(R32!
^B$$! ""^*%! 4Y=En/?<@X!/0<!-<</@;<A!
!

!"#"="#"%8-.+-44(,*-.%0.%A,3(4(5"%
!

:-EF/-1!>/!E=2>!i!

?=;0=HH-}=;!U:(5K5U!#-;!
&$$$!

"%$$!
4@<2/0!

"$$$!

%$$!

$!
&$"R! &$"*! &$"^! &$"7!

<=<-F!#!-;!/;!4@<2/!
)En/?}X!>/!2G>1?}=;!!

?=;0=HH-}=;!U<2-H-C!#!:=;;/!D-D@/2!

"h$$!

$h7$!

$h^$!

$h*$!

$hR$!

$h%$!

$hQ$!

$hB$!

$h&$!

$h"$!

$h$$!
&$"R! &$"*! &$"^! &$"7!

&$"R! &$"*! &$"^! &$"7!

!
I*39(/./!#E"$!J! [<X24/+6! K-.(R32!
Q^$! "B$$! 4Y=En/?<@X!/0<!-<</@;<A!

'-./!"$!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
T*H*S*+<4)#$)2.+&.2+&7(=.#2*+
!

!
! I*39(/./!#E"$!J! [<X24/+6! K-.(R32!
(/?[?F-./!i!v!<=;;/!>/!D-D@/2! 4Y=En/?<@X!/0<!-<</@;<A!
2/?[?FG!#!<=;;/!>/!J3,! $A7^!v! $A*B!v! 4/!;=1Z/F!=En/?<@X!>/!&$&$!/0<!>/!
"A$Bv!
_w?L/!v!i!<=;;/!D-D@/2!2/?[?FG!D-2! P;!<2-Z-@F!>/!2G>1?<@=;!>/!F-!.w?L/!
2-DD=2<!W!F-!<=;;/!>/!D-D@/2! %QA7R!v! Q&!v! /0<!2G-F@0G!D-2!F/0!GV1@D/0!V1-F@<GA!
-?L/<G/!! !
9=1<!>1!<2-@</H/;<!>/0!J3,!i!v!>1! _2-?/!W!1;!?=;<2fF/!2/;X=2?G!>/0!
?=1<!>/!<2-@</H/;<!>/0!J3,!D-2! D2=?/00!>/!D2=>1?<@=;h!FYGV1@D/!
2-DD=2<!-1!95! $A"R!v! $A""!v! V1-F@<G!2G>1@<!F/!;=HE2/!>YG<1@0!
;=;!?=;X=2H/!D2=>1@<!/<!>=;?!F-!
.w?L/A!
!

T*H*Z*+-%"2%994#)%"+."+.4'*+
!

:-EF/-1!>/!E=2>!i!

MZ=F1}=;!>/!F-!9=;0=HH-}=;!>d/-1!!
"$$$! BQh$$v!
^$$! B&h$$v!
R$$! B$h$$v!
Q$$! &^h$$v!
&$$! &Rh$$v!
$! &Qh$$v!
&$"%! &$"R! &$"*! &$"^! &$"7!
9=;0=HH-}=;!/-1!/;!KB! )En/?}X! 9=;0=HH-}=;!/-1!bKBc!#!:=;;/!>/!D-D@/2!-?L/<G/!b:c!

!
I*39(/./!#E"$!J! [<X24/+6! K-.(R32!
5?<@=;!M;Z+$"7!i!
P;/! -;-F[0/! >/0! ?=;0=HH-<@=;0! >Y/-1! >=@<!
e<2/!2G-F@0G/A!
4/0! 2/X2=@>@00/120! /C<G2@/120! 0=;<! GV1@DG0! >Y1;!
B$A7"v! &^A^Qv!
0[0<IH/! ->@-E-<@V1/! V1@! D=122-@<! /CDF@V1/2!
?/<</! ?=;0=HH-<@=;A! '=12! ZG2@X@/2! ?/<</!
L[D=<LI0/! F/0! 2/F/ZG0! >=@Z/;<! e<2/! X-@<0! 012! F/0!
H=@0!>/!n1@;!n1@FF/<!/<!5=1<A!

'-./!#E!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
'@F=</!i!K-@;</;-;?/A!
!

T*H*Z+0)%&)P.$2)#7+3$%9%#)%"+&'+645.6+IB-*+
!

:-EF/-1!>/!E=2>!i!

!
!

I*39(/./!#E"$!J! [<X24/+6! K-.(R32!


K4/+0-!L-:ME#E!J!
'2=D=0@<@=;! -1! ?F@/;<! >/! D-D@/2! SN9! >-;0! F/0!
&&A**!v! &*A&7!v!
DL-0/0!>/!?=;?/D<@=;!D2=>1@<A!
N+(0/2!J!J@2/?</12!9=HH/2?@-FA!
!

! !

'-./!#"!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
T*H*[*+;7(=.#2+!93$)9.$).+\+!<81!<+E@1A*+
!

:-EF/-1!>/!E=2>!i!

!
!

! I*39(/./!#E"$!J! [<X24/+6! K-.(R32!


JG?L/<0!4@V1@>/0! c-!(.<07./0+72!12!7*.(+3./+0-!123!/2+-/23!.!
*/*!+-3/.((*G!
/<!KGF-;./0! 4-!X-E2@?-<@=;!>/0!</@;</0!012!F/!F@/1!>/!
b'2GD2/00h!H=1@FF-./h! D"`#H!Y! *QA^!:! D2=>1?<@=;!D/2H/<!>/!i!
2G0@>10!-V1/1C!>/!?=FF/! - 9=;0=HH/2!H=@;0!>Y/;?2/!
/<!2G0@>10!>Y/;?2/0!/<! bX-E2@?-<@=;!>/!F-!n10</!V1-;<@<GcA!
>/!Z/2;@0c! - (G>1@2/!F/!;=HE2/!>/!2GXG2/;?/0!
JG?L/<0!0=F@>/0! >Y/;?2/0!/;!0<=?]!/<!>=;?!>@H@;1/2!
F-!V1-;<@<G!>Y/HE-FF-./A!
0=1@FFG0! !
b'=<0h!X1<0h! RAR!:! ^AR!:! 4-!0=?@G<G!a5P:M(N!/0<!GV1@DG/!>Y1;!ZYN!A!
-G2=0=F0h!m! 4]+,+2!7*19+/2A!9/!V1@!>@H@;1/!F/0!>G?L/<0!
D2GD2/00/A!
0=1@FFG0c!
9L@XX=;0!0=1@FFG0! $A%%!:! $A&7!:! S-6*7+297!A!(.!/0--2!397!"!.-!
9-2<=1?L/0! S-6*7+297!A!(.!/0--2!397!"!.-!
$A$*B!:! $A$^!:!
/;?2/0!/<!<=;/20!
JMMM!b?-<!Bc! $AQ!:! $AB!:! S-6*7+297!A!(.!/0--2!397!"!.-!
JMMM!b?-<!Qc! $A$$B!:! $A$$B!:! S-6*7+297!A!(.!/0--2!397!"!.-!
!

'-./!##!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
7$!v!>/0!>G?L/<0!.G;G2G0!0=;<!F@V1@>/0!=1!0=10!
X=2H/!>/!F@V1@>/0#0=F@>/0!b,=1/0cA!
!
!

!
4-!2G-F@0-<@=;!>1!F-E=2-<=@2/!>/!2G-F@0-<@=;!>/0!
</@;</0!>/!FY1<@F@0-<@=;!>Y1;!F=.@?@/F!>/!
X-E2@?-<@=;!H-@<2@0-;<!F/0!D=@>0!/<!Z=F1H/0!>=@<!
D/2H/<<2/!>Y-<</@;>2/!F/0!=En/?<@X0!&$&$A!
!
4/!F-E=2-<=@2/!/0<!>@Z@0G!/;!>/1C!i!
- M<1>/!/<!?=;?/D<@=;!>/!F-!</@;</A!
- (G-F@0-<@=;!>/!F-!</@;</A!

!
!

!
!

!
!

! !

'-./!#%!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
!

T*H*]*+-%"(6'2)%"*+
!

4Y/;0/HEF/!>/0!@;>@?-</120!=;<!G<G!2/Z1/A!4-!0=?@G<G!a5P:M(N!-!X@CG!F/0!=En/?<@X0!&$&$!/;!X=;?<@=;!
>/0!2G01F<-<0!=E</;1/!/;!&$"7!/<!>/0!D2GZ@0@=;0!>Y-?<@Z@<G!&$&$A!

)En/?<@X0!&$&$!i!
O.-3!@92(!<9/! [<X24/+6!#E#E! T7*@92-42!12!(.!
S-1+4./2973!
,23972!

U97:2+((27!(2!UVW!2/! "EE!F! K--*2!


3).339727!@9).949-2!
6E2/!>d-1>@<!@;</2;/!DF-;@X@G!#!6E2/!>d-1>@<!@;</2;/!2G-F@0GA!
1*:+./+0-!,.X2972! "!.91+/!d!.-!
-).88.7.+332G!

N7*:2-+7!(23! E! Y7+,23/72!
6=HE2/!>Y-F/2</!/<!>YG?-2<!/;Z@2=;;/H/;<-1CA! 80((9/+0-3!
.44+12-/2((23G!

9=;0=HH-<@=;!M;/2.@/!MF/?<2@?@<G!o!_-\! ! O+,+-9/+0-!12!"F!8.7! Y7+,23/72!


7.8807/!.--*2!
v!D-2!2-DD=2<!W!F-!<=;;/!>/!D-D@/2!1<@F@0G/A! .-/*7+2972G!

9=;0=HH-<@=;!_-\A! Y7+,23/72!

v!D-2!2-DD=2<!W!F-!<=;;/!>/!D-D@/2!1<@F@0G/A!

9=;0=HH-<@=;!MF/?<2@?@<GA! Y7+,23/72!

v!D-2!2-DD=2<!W!F-!<=;;/!>/!D-D@/2!1<@F@0G/A!

9=;0=HH-<@=;!>Y-F?==F!@0=!D2=D[F@V1/A! V.+/7+32!12!(.! O+,+-9/+0-!12!'F!8.7! Y7+,23/72!


40-30,,./+0-!2-! 7.8807/!.--*2!
v!D-2!2-DD=2<!W!F-!V1-;<@<G!>/!D-D@/2!-?L/<G/A! 7233097423!-./972((23!! .-/*7+2972G!

9=;0=HH-<@=;!U<2-H-CA! V.+/7+32!123!Z[\! O+,+-9/+0-!12!"F!8.7! Y7+,23/72!


7.8807/!.--*2!
v!D-2!2-DD=2<!W!F-!V1-;<@<G!>/!D-D@/2!-?L/<G/A! .-/*7+2972G!

V.+/7+32!12!(.! O+,+-9/+0-!12!EG'!e! V0+3!


40-30,,./+0-!2-! 8.7!7.8807/!.--*2!
K-@<2@0/!>/0!>G?L/<0A! 7233097423!-./972((23! .-/*7+2972G!

_w?L/!v!i!V1-;<@<G!D-D@/2!2/?[?FG!D-2!2-DD=2<!W!F-!V1-;<@<G!-?L/<G/! V.+/7+32!12!(.! K9?,2-/./+0-!12!EG'!


870194/+0-!12! e!8.7!7.8807/!.--*2!
(/?[?F-./!i!v!>/!D-D@/2!2/?[?FG!#!-1!J3,! 1*4]2/3! .-/*7+2972G!

9=1<!>1!<2-@</H/;<!>/0!J3,!i!v!>1!?=1<!>/!<2-@</H/;<!>/0!J3,!D-2!2-DD=2<!-1!95! O+,+-9/+0-!12!EG'!e!
8.7!7.8807/!.--*2!
.-/*7+2972G!

9=;0=HH-<@=;!/-1A! V.+/7+32!12!(.! O+,+-9/+0-!12!"F!8.7! Y7+,23/72!


40-30,,./+0-!2-! 7.8807/!.--*2!
v!D-2!2-DD=2<!W!F-!<=;;/!>/!D-D@/2!1<@F@0G/A! 7233097423!-./972((23! .-/*7+2972G!

N.7/+4+827!A!(.! K9?,2-/./+0-!12!'F! K--*2!


870,0/+0-!123!
,@=>@Z/20@<G!SN9A! .4/+:+/*3!TUZ!2-!
6.:297!12!(.!
`1-;<@<G!/;!<=;;/!>/!D-D@/2!SN9!#!D-D@/2!?=HH-;>GA! <+01+:273+/*!2/!19!
1*:2(0882,2-/!
197.<(2G!

JG?L/<0!3HD2@H/2@/!8!3K'(3K!OM(:! V.+/7+32!12!(.! O+,+-9/+0-!12!"F!A! Y7+,23/72!


870194/+0-!12! "E!F!8.7!7.8807/!
M;!<=;;/0! 1*4]2/3!! .--*2!.-/*7+2972G!

P;!@;Z/0<@00/H/;<!?=;0GV1/;<!-!G<G!2G-F@0G!D=12!?=;?/Z=@2!F/!F-E=2-<=@2/!>/!</@;</0A!3F!>=@<!D/2H/<<2/!
>/!2G>1@2/!F-!V1-;<@<G!>Y/;?2/!.w?LG/!bS-E2@?-<@=;!012!H/012/ch!F@H@</2!F/0!0<=?]0!-1!0<2@?<!;G?/00-@2/!
/<!2G>1@2/!F/!;=HE2/!>Y/HE-FF-./A!bP<@F@0-<@=;!>/!D=<!>/!%!{.!-1!F@/1!>/!"!=1!&A%!{.cA!

'-./!#&!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!

T*Q+1@BFGA,A+;@B+,F;!AB*+
!

4-!0=?@G<G!a5P:M(N!0Y-DD1@/!012!FY/CD/2<@0/!/<!F/!?=;<2fF/0!>Y=2.-;@0H/!@;>GD/;>-;<!-??2G>@<GA!

T*Q*?+,F;!A+IB-*+
!

4-!?L-@;/!>/!?=;<2fF/!/0<!-1>@<G/!<=10!F/0!-;0!D-2!F/!E12/-1!OM(3:5NA!P;!-1>@<!
>/!2/;=1Z/FF/H/;<!-!G<G!2G-F@0G!/;!&$"7A!4-!0=?@G<G!a5P:M(N!-!G<G!?=;X@2HG!
F/!"B#"&#&$"7A!

!
!

T*Q*H+,F;!A+,K,*+
!

4-!0=?@G<G!a5P:M(N!X-@<!2G-F@0/2!D-2!0=;!-0012/12!5U5!1;/!GZ-F1-<@=;!>/0!
2@0V1/0A!P;!2-DD=2<!/0<!2G-F@0G!/<!1;/!F@0</!>/!2/?=HH-;>-<@=;0!V1@!Z@0/!W!
D2GZ/;@2!F/0!2@0V1/0!>/!D/2</!>Y/CDF=@<-<@=;h!>Y@;?/;>@/!/<!>/!D=FF1<@=;!
-??@>/;</FF/!-!G<G!2/H@0!W!F-!0=?@G<G!a5P:M(NA!P;!DF-;!>Y-?<@=;!/0<!G<-EF@!W!
D-2<@2!>/!?/!2-DD=2<A!
82$-,992'#)#9+':;#<.:'<2'$"-=.2'3'7>'!4?(@4'A'7>'B65C'D'@9E:9"2.$-'8$:;29+",9'4F4'G$#912'
! !
!

T*Q*T+(%"(6'2)%"2*+
!

4-!0=?@G<G!-!2/Z1!F/!DF-;;@;.!>Y-1>@<A!`1-<2/!-1>@<0!0/2=;<!2G-F@0G0!/;!&$&$A!!

- &!51>@<0!/C</2;/0!i!

51>@<!>/!01@Z@!SN9!bE12/-1!OM(3:5Nch!!

51>@<!>/!2/;=1Z/FF/H/;<!3HD2@H!O/2<!b993cA!

- &!51>@<0!@;</2;/0!i!

51>@<!@;</2;/!SN9h!!

51>@<!@;</2;/!M;Z@2=;;/H/;<!#!0G?12@<GA!

! !

'-./!#'!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!
!

Q*+81@BA,A,!1@B+@KA@1!@F1B+@A+,FA1@B+8,1A!@B+!DA@1@BB@@B*+
!

Q*?+<,!A1!B@+;@B+C1^,D!B<@B+@KA@1!@F1*+
!

4Y/;0/HEF/!>/0!=2.-;@0H/0!/C<G2@/120!/;!?L-2./!>/!F-!2/Z-F=2@0-<@=;h!>1!2/?[?F-./!/<!>1!<2-@</H/;<!
>/0!>G?L/<!=;<!G<G!@>/;<@X@G0!/<!?-2<=.2-DL@GA!

!
!

!
9/<</!?-2<=.2-DL@/!-!0/2Z@!>/!E-0/!W!FY-;-F[0/!>/0!2@0V1/0!/<!>/0!=DD=2<1;@<G0!>Y-HGF@=2-<@=;!V1/!F-!
0=?@G<G!a5P:M(N!-!2G-F@0G/A!

'-./!#B!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!

Q*H+ICF1D!BB@F1B+;@+8,8!@1+IB-*+
!

P;/!F@0</!>/0!X=12;@00/120!?/2<@X@G0!/0<!</;1/!W!n=12!D-2!F-!0=?@G<G!a5P:M(N!?=;X=2HGH/;<!-1C!
/C@./;?/0!F@G/0!W!F-!H-@<2@0/!>/!F-!?L-@;/!>/!?=;<2fF/!>/0!H-<@I2/0!SN9A!9/<</!F@0</!-!G<G!2/Z1/!/<!F/0!
?/2<@X@?-<0!>/!?L-V1/!X=12;@00/12!=;<!G<G!ZG2@X@G0!/<!/;2/.@0<2G0A!
!

S*+1!B_F@B+@A+C88C1AFD!A@B*+
!

N1@</! W! FY-;-F[0/! >/0! 2@0V1/0! /<! >/0!


=DD=2<1;@<G0! 2G-F@0G/0! W! D-2<@2! >/! F-!
?-2<=.2-DL@/!>1!D2=?/00!/;Z@2=;;/H/;<h!F-!
0=?@G<G! a5P:M(N! -! @>/;<@X@G! "! 2@0V1/! /<! B! !
=DD=2<1;@<G0! >Y-HGF@=2-<@=;A! Q! -?<@=;0! =;<!
G<G!=1Z/2</0A!
!
!

PQ!12! YR82!12! L/./!.4/92(! [8807/9-+/*! PQ!1).4/+0-!


1*4]2/3! 1*4]2/!

V./+>723!
872,+>72!
""! JG?L/<0!E=@0!+! J3,! (/!Z-F=2@0-EF/! M;Z!&"!i!
D-F/<</0! M<1>/!>/!2/Z-F=2@0-<@=;!>1!E=@0!>/0!
D-F/<</0!
'@F=</!i!J@2/?</12!>/!D2=>1?<@=;A!
JGF-@0!i!JG?/HE2/!&$&$!
"&! JG?L/<0! J3,! (/!Z-F=2@0-EF/! M;Z!&&i!
/HE-FF-./0! M<1>/!>/!2/Z-F=2@0-<@=;!>/0!/HE-FF-./0!
DF-0<@V1/0! DF-0<@V1/0!
'@F=</!i!J@2/?</12!>/!D2=>1?<@=;A!
JGF-@0!i!JG?/HE2/!&$&$!
"B! S=2H/0!>/! J3,! (/!Z-F=2@0-EF/! M;Z!&Bi!
>G?=1D/0! b,=@0!o!HG<-F! M<1>/!>/!2/Z-F=2@0-<@=;!>/0!X=2H/0!>/!
10G/0!=1! oH=100/! >G?=1D/!
=E0=FI</0! '@F=</!i!J@2/?</12!>/!D2=>1?<@=;A!
JGF-@0!i!JG?/HE2/!&$&$!
M;?2/0!g! K-<@I2/! N-;0!E-?!>/! K@0/!012!E-?!! M;Z!&Qi!
Z/2;@0! D2/H@I2/! 2G</;<@=;!bDw</1C!=1! M<1>/!D=12!1<@F@0/2!>/0!E-?0!>/!2G</;<@=;!
9=FF/! ;=;!>-;./2/1C!D=12! -H=Z@EF/0!/<!>GH=;<-EF/0!b<[D/!Ew?L/cA!
FY/;Z@2=;;/H/;<c!

!
'@F=</!i!(/0D=;0-EF/!`NMA!
JGF-@0!i!)?<=E2/!&$&$!
9-2<=;0! K-<@I2/! P<@F@0-<@=;!>/!0?=<?L! 9-00/!W!X/2H/<12/! M;Z!&Ri!
D2/H@I2/! D=12!X/2H/2!F/0! -1<=H-<@V1/! M<1>/!/<!H@0/!/;!DF-?/A!
?-2<=;0! D2=D=0G/!W!<=10!F/0! '@F=</!i!(/0D=;0-EF/!5?L-<A!
?F@/;<0!D=12!GZ@</2! JGF-@0!i!)?<=E2/!&$&$!
>Y1<@F@0/2!>1!0?=<?L!

'-./!#D!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!

Z*+1@BBCF1-@B+@D^,^@@B+8CF1+HUHU*+
4Y/;0/HEF/!>/0!2/00=12?/0!L1H-@;/0!/<!H-<G2@/F!-!G<G!2/Z1A!J/0!D@F=</0!=;<!G<G!-<<2@E1G0!W!?L-V1/!
-?<@=;A!

4-!0=?@G<G!a5P:M(N!n1./!V1/!FYGV1@D/!/;!DF-?/!/0<!-D</!W!2G-F@0/2!F/!DF-;!>Y-?<@=;!&$&$A!

[+1@EF@B+;@B+,-A!CDB+HUHU*+

Délais
Pilote
Date

Axe de travail Actions


$$7!
M;Z+

#&$!
$R#$%

:a!

#&$!
$"#$7
(G>1?<@=;!>/0!>G?L/<0! 5;-F[0/!>/!Fd@;<G2e<!>d1;!0[0<IH/!E2=[/12!>/!D-F/<</0!
P<@F@0-<@=;!>/0!2/00=12?/0!;-<12/FF/0!H-@<2@0G/0!
M;Z+$"$!

$R#$%#&$!

5,!

B$#"&#&$!
4-!X@F@I2/!>/0!D2=>1@<0!E@=0=12?G0!
4Y1<@F@0-<@=;!>/!H-<@I2/0!D2/H@I2/0!2/;=1Z/F-EF/0!>-;0!F/0!D2=>1@<0! M<1>/0!</?L;@V1/0!g!>/!X-@0-E@F@<G!G?=;=H@V1/!
D=12!F-!?L@H@/!/<!-1C!H-<G2@-1C!=XX2/!1;/!-F</2;-<@Z/!-1C!2/00=12?/0! MZ-F1-<@=;!>/0!X=12;@00/120!
X=00@F/0!D=1Z-;<!G.-F/H/;<!2GD=;>2/!W!DF10@/120!>GX@0! `1-F@X@?-<@=;!>/0!/;?2/0!
/;Z@2=;;/H/;<-1Ch!;=<-HH/;<!Fd/XX/<!>/!0/22/A! '2G0/;<-<@=;!-1!?F@/;<!
$""!
M;Z+

&$!
""#$%#

)'!

&$!
B$#$*#
K=>@X@?-<@=;!>/0!/;n/1C!/C</2;/0!i!
1<@F@0-<@=;!>d1;!D2=?/00!>/!K-2V1-./!W!X2=@>!+!G<1>/!>1!.-@;! M<1>/0!</?L;@V1/0!i!5;-F[0/!>1!?[?F/!>/!Z@/!>Y1;!G<1@!2G-F@0G!>/!X-x=;!?F-00@V1/!
/;Z@2=;;/H/;<-F! /<!>Y1;!G<1@!2G-F@0G!/;!H-2V1-./!W!X2=@>A!
K@0/!/;!DF-?/!>Y1;!01@Z@!>/0!0=10+<2-@<-;<0!>/!X=2H/!@HD2@H-;</A!
M;Z+$"&!

$!
""#$%#&

)'!

$!
B$#"&#&
K@0/!/;!DF-?/!>d1;!2/.@0<2/!
K=>@X@?-<@=;!>/0!/;n/1C!/C</2;/0!i! 9=HH1;@?-<@=;!>/0!/C@./;?/0!-1C!X=12;@00/120!
MZ=F1<@=;!>/0!/;.-./H/;<0!3HD2@H!Z/2<! (/Z1/!>/0!/C@./;?/0!-Z/?!F/0!X=12;@00/120!
$"B!
M;Z+

&$!
""#$%#

)'!

&$!
B$#"&#
K=>@X@?-<@=;!>/0!/;n/1C!/C</2;/0!i! (/Z1/!>/0!\=;/0!>/!2G</;<@=;A!
(/Z=@2!F/0!\=;/0!>/!2G</;<@=;A! 6=1Z/FF/!G<@V1/<-./!-Z/?!F/0!?-D-?@<G0!>/!2G</;<@=;!
(/Z1/!>/!FY/;0/HEF/0!>/0!X@?L/0!>/!>=;;G/0!>/!0G?12@<G!-X@;!>Y@>/;<@X@/2!/<!
M;Z+$"Q!

""#$%#&$!

)'!

B$#"&#&$!
01E0<@<1/2!<=10!F/0!D2=>1@<0!<=C@V1/0!/<!9K(!>/!?-<G.=2@/!"A!
K@0/!/;!DF-?/!>Y1;!2/.@0<2/!>/0!/CD=0@<@=;0A!
(G-F@0-<@=;!>/!F-!F@0</!>/0!D2=>1@<0!W!01E0<@<1/2A!
'2@=2@0-<@=;!/;!X=;?<@=;!>/!F-!X2GV1/;?/!>Y1<@F@0-<@=;!/<!>/!F-!V1-;<@<G!
K=>@X@?-<@=;!>/0!/;n/1C!/C</2;/0!i! ?=HH-;>G/A!
01DD2/00@=;!>/0!9K(!>/!?-<!"!/<!F/0!D2=>1@<0!<=C@V1/0! N1E0<@<1<@=;!-Z/?!F/0!X=12;@00/120A!
K@0/!/;!DF-?/!>Y1;!2/.@0<2/!>/!01@Z@!>/!FY/;<2/<@/;!>1!0GD-2-</12!
$"%!
M;Z+

#&$!
""#$%

?/!
/;-;
K-@;<
#&$!
B$#"&
K-@<2@0/!>/0!D=FF1<@=;0!-??@>/;</FF/0! >YL[>2=?-2E12/!/<!>1!2G0/-1!>Y/-1!DF1Z@-F/A!!
$"R!
M;Z+

#&$!
""#$%

)'!

#&$!
B$#"&
K@0/!/;!DF-?/!>Y1;!2/.@0<2/!>/!01@Z@!>/0!G?-2<0!/;Z@2=;;/H/;<-1C!
K-@<2@0/!>/0!D=FF1<@=;0!-??@>/;</FF/0!
$"*!
M;Z+

#&$!
""#$%

/!
/;-;?
K-@;<
#&$!
B$#"&
(G>1?<@=;!?=;0=HH-<@=;!G;/2.G<@V1/!! 5;-F[0/!>/!F-!?=;0=HH-<@=;!GF/?<2@V1/!>=@<!e<2/!2G-F@0GA!!
$"^!
M;Z+

#&$!
""#$%

/!
/;-;?
K-@;<
#&$!
B$#"&
P;/!-;-F[0/!>/0!D2@;?@D-F/0!D/2</0!>/!?L-F/12!/<!DF-;!>Y@0=F-<@=;!<L/2H@V1/A!
(G>1?<@=;!?=;0=HH-<@=;!G;/2.G<@V1/!! M<1>/!D=12!?L-;./2!F/0!X/;/<2/0!
P;/!-;-F[0/!>/0!?=;0=HH-<@=;0!>Y/-1!>=@<!e<2/!2G-F@0GA!
$"7!
M;Z+

&$!
""#$%#

)'!

&$!
B$#"&#

4/0! 2/X2=@>@00/120! /C<G2@/120! 0=;<! GV1@DG0! >Y1;! 0[0<IH/! ->@-E-<@V1/! V1@!


D=122-@<! /CDF@V1/2! ?/<</! ?=;0=HH-<@=;A! '=12! ZG2@X@/2! ?/<</! L[D=<LI0/! F/0!
(G>1?<@=;!?=;0=HH-<@=;!/;!/-1! 2/F/ZG0!>=@Z/;<!e<2/!X-@<0!012!F/0!H=@0!>/!n1@;!n1@FF/<!/<!5=1<A!
$&$!
M;Z+

%#&$!
""#$

)'!

&#&$!
B$#"

'2=D=0@<@=;!-1!?F@/;<!>/!D-D@/2!SN9!>-;0!F/0!DL-0/0!>/!?=;?/D<@=;!D2=>1@<A!
N-1Z/.-2>/!>/!F-!E@=+>@Z/20@<G!
$&"!
M;Z+

#&$!
""#$%

:9J!

#&$!
B$#"&

M<1>/!>/!2/Z-F=2@0-<@=;!>1!E=@0!>/0!D-F/<</0!

(G>1?<@=;!>/0!>G?L/<0!
$&&!
M;Z+

&$!
""#$%#

:9J!

&$!
B$#"&#

M<1>/!>/!2/Z-F=2@0-<@=;!>/0!/HE-FF-./0!DF-0<@V1/0!

(G>1?<@=;!>/0!>G?L/<0!
M;Z+$&B!

""#$%#&$!

)'!

B$#"&#&$!

M<1>/!>/!2/Z-F=2@0-<@=;!>/0!X=2H/0!>/!>G?=1D/!

(G>1?<@=;!>/0!>G?L/<0!
$&Q!
M;Z+

&$!
""#$%#

)'!

&$!
B$#"&#

M<1>/!D=12!1<@F@0/2!>/0!E-?0!>/!2G</;<@=;!-H=Z@EF/!/<!>GH=;<-EF/!!

K-@<2@0/!>/0!D=FF1<@=;0!-??@>/;</FF/0!
$&%!
M;Z+

%#&$!
""#$

)'!

&#&$!
B$#"

K=>@X@?-<@=;!>/0!/;n/1C!/C</2;/0!i!M<1>/0!>/0!?[?F/0!Z@/!@;<G.2G!>-;0!
F/0!D=F@<@V1/0!-?L-<0! K@0/!/;!DF-?/!>1!F=.@?@/F!9F@H-</9-F?A!
9-00/!W!X/2H/<12/!-1<=H-<@V1/!D2=D=0G/!W!<=10!F/0!?F@/;<0!D=12!GZ@</2!>Y1<@F@0/2!
$&R!
M;Z+

&$!
""#$%#

N_!

$!
B$#"$&

>1!0?=<?L!
M<1>/!/<!H@0/!/;!DF-?/A!
(G>1?<@=;!>/0!>G?L/<0!

'-./!#H!012!#$!
!
! ""#$%#&$&$!
!"#$"%&"%&'(")*'+,%",#'(+,,"-",*%.%&/#"0+11"-",*%&$(230"!
!
'()!$$*+,!

]+-CD-GFB!CD*+
!

4-! 0=?@G<G! a5P:M(N! ?=;0?@/;</! >/0! /;n/1C! /;Z@2=;;/H/;<-1C! 0Y/;.-./! ?L-V1/! -;;G/!
H-<G2@/FF/H/;<!/<!L1H-@;/H/;<!D=12!D2GZ/;@2!<=1</!D=FF1<@=;!-??@>/;</FF/!H-@0!-100@!D=12!2G>1@2/!
-1!H-C@H1H!0=;!/HD21;</!?-2E=;/A!

4-!0=?@G<G!a5P:M(N!0Y/;.-./!W!D1EF@/2!012!0=;!0@</!@;</2;/<!F-! D2G0/;</!2/Z1/!>/!>@2/?<@=;!?L-V1/!
-;;G/!-X@;!>/!D/2H/<<2/!W!?L-?1;!>/!n1./2!>/0!-?<@=;0!2G-F@0G/0!/<!>/0!2G01F<-<0!=E</;10A!4-!0=?@G<G!
a5P:M(N! /0<! W! FYG?=1</! >/! <=1</! D2=D=0@<@=;! >Y-HGF@=2-<@=;A! P;/! ->2/00/! K-@F! -! G<G! H@0! /;! DF-?/!
-X@;! >/! 2/?/Z=@2! F/0! ?=HH/;<-@2/0! >/0! <@/20! D-2<@/0! Z=1F-;<! ?=;<2@E1/2! W! ;=<2/! D=F@<@V1/! >/!
>GZ/F=DD/H/;<!>12-EF/!b5>2/00/!K-@F!i!0/2Z@?/AV1-F@</~?L+|-1</20A?=HcA!!

6=0!D=F@<@V1/0!`1-F@<Gh!M;Z@2=;;/H/;<!/<!(NM!0=;<!G.-F/H/;<!D1EF@G/0!012!;=<2/!0@</A!

4-!0=?@G<G!a5P:M(N!-!->LG2G!-1!D2=.2-HH/!>/0!6-<@=;0!P;@/0!
>1!q!.F=E-F!?=HD-?<!rA!4/!E1<!/0<!>/!D-2<@?@D/2!W!FY/XX=2<!?=FF/?<@X!
V1/! 0/! 0=;<! X@CG0! F/0! 6-<@=;0! P;@/0! -X@;! >/! D2=H=1Z=@2! /<!
2/0D/?</2!F/0!>2=@<0!L1H-@;0h!>1!<2-Z-@Fh!>/!FY/;Z@2=;;/H/;<!/<!>/!
F1<</!?=;<2/!F-!?=221D<@=;A!9/<</!->LG0@=;!H=;<2/!F-!Z=F=;<G!>/!F-!
0=?@G<G! W! @;<G.2/2! 0-! D=F@<@V1/! /;Z@2=;;/H/;<-F/! >-;0! 1;! ?->2/!
DF10! F-2./! /;! ?==2>@;-<@=;! -Z/?! <=10! F/0! -1<2/0! -?</120!
G?=;=H@V1/0A!
!
4-!F/<<2/!>Y/;.-./H/;<!-1!.F=E-F!?=HD-?<!/0<!D1EF@G/!012!F/!0@</! !
@;</2;/<!>/!F-!0=?@G<G!a5P:M(NA!
!

4-! 0=?@G<G! a5P:M(N! >GZ/F=DD/! >/0! =1<@F0! >/! ?-F?1F! >1! E@F-;!
?-2E=;/! >/! 0/0! D2=>1?<@=;0! -X@;! >/! D=1Z=@2! D/2H/<<2/! -1! ?F@/;<! !
>/! ?L=@0@2! /;! X=;?<@=;! >/0! @HD-?<0! 012! FY/;Z@2=;;/H/;<h! F/0!
D2=?/00! /<! H-<@I2/! ?=;0<@<1<@X! >/! F/120! G<1@0A! 4/! F=.@?@/F!
?F@H-</?-F?!-!G<G!2/</;1!/<!0/2-!>GDF=[G!?/<!G<GA!
!

'-./!#$!012!#$!
!

You might also like