5HY
&DIp*DUDQWLH/LPLWpHGX5pIULJpUDWHXU
Ŷ
/HVGpSODFHPHQWVjYRWUHGRPLFLOHSRXUYRXVH[SOLTXHU
O¶XWLOLVDWLRQGHFHSURGXLW
Ŷ 8QHLQVWDOODWLRQOLYUDLVRQRXPDLQWHQDQFHGpIHFWXHXVH
Ŷ 8QHSDQQHGXSURGXLWSDUDEXVG¶XWLOLVDWLRQSDU
PDXYDLVHXWLOLVDWLRQSDUPRGLILFDWLRQRXV¶LODpWpXWLOLVp
GDQVXQEXWDXWUHTXHFHOXLSRXUOHTXHOLODpWpIDEULTXp
Ŷ 'pWpULRUDWLRQGHVDOLPHQWV
Ŷ /HUHPSODFHPHQWGHVIXVLEOHVRXOHUpHQFOHQFKHPHQWGX
GLVMRQFWHXUGXGRPLFLOH
Ŷ /HVGRPPDJHVjODILQLWLRQWHOVTXHURXLOOHGHVXUIDFH
WHUQLVVHPHQWRXSHWLWHVWDFKHVQRQVLJQDOpVGDQVXQ
GpODLGHKHXUHVVXLYDQWODOLYUDLVRQ
Ŷ /HUHPSODFHPHQWGHODFDUWRXFKHILOWUDQWHVLLQFOXVH
jFDXVHG¶XQHSUHVVLRQG¶HDXHQGHKRUVGHODJDPPH
GHIRQFWLRQQHPHQWUHFRPPDQGpHRXjFDXVHG¶XQH
FRQFHQWUDWLRQH[FHVVLYHGHVpGLPHQWVGDQVO¶HDX
G¶DOLPHQWDWLRQ
Ŷ /HUHPSODFHPHQWGHVDPSRXOHVVLLQFOXVHVRXOD
FDUWRXFKHILOWUDQWHVLLQFOXVHHWGDQVGHVFRQGLWLRQV
DXWUHVTXHFHOOHVVXVPHQWLRQQpHV
Ŷ 7RXWGRPPDJHFDXVpSDUDFFLGHQWLQFHQGLHLQRQGDWLRQ
RXXQHFDWDVWURSKHQDWXUHOOH
Ŷ 7RXWGRPPDJHIRUWXLWRXLQGLUHFWFDXVpSDUGHVGpIDXWV
pYHQWXHOVGHFHWDSSDUHLO
Ŷ/HVHUYLFHV¶LOHVWLPSRVVLEOHG¶DYRLUDFFqVDXSURGXLW
Ŷ'RPPDJHVFDXVpVSDUO¶XWLOLVDWLRQG¶XQILOWUHTXLQ¶HVW
SDVGHPDUTXH*($SSOLDQFHV
&HTXLQ¶HVWSDVFRXYHUWSDU&$)e
3HQGDQWODSpULRGHGH
JDUDQWLHGH
&$)eUHPSODFHUD
8Q$Q
$FRPSWHUGHODGDWHG¶DFKDW
LQLWLDO
7RXWHSLqFH
GXUpIULJpUDWHXUTXLV¶DYqUHGpIHFWXHXVHHQUDLVRQG¶XQGpIDXWGHPDWpULDXRXGHIDEULFDWLRQ
3HQGDQWODYDOLGLWpGHOD
SUpVHQWHJDUDQWLHOLPLWpH
G¶XQDQ&$)eIRXUQLUDpJDOHPHQWJUDWXLWHPHQWOD
PDLQG¶°XYUHHWOHVHUYLFHSRXUUpSDUHUODSLqFHGpIHFWXHXVH
7UHQWHMRXUV
ILOWUHjHDXVLLQFOXV$FRPSWHU
GHODGDWHG¶DFKDWLQLWLDO
7RXWHSLqFH
GHODFDUWRXFKHILOWUDQWHTXLQHIRQFWLRQQHSDVjFDXVHG¶XQYLFHGHPDWpULDXRXGHPDLQ
G¶°XYUH3HQGDQWODYDOLGLWpGHOD
SUpVHQWH
JDUDQWLHOLPLWpHGHMRXUV
&DIpIRXUQLUDJUDWXLWHPHQWXQH
FDUWRXFKHILOWUDQWHGHUHPSODFHPHQW
&LQT$QV
$FRPSWHUGHODGDWH
G¶DFKDW
7RXWHSLqFH
GXV\VWqPHIHUPpGXUpIULJpUDWHXUFRPSUHVVHXUFRQGHQVHXUpYDSRUDWHXUHWWRXVOHVWX\DX[
GHUDFFRUGHPHQWTXLV¶DYqUHGpIHFWXHXVHHQUDLVRQG¶XQGpIDXWGHPDWpULDXRXGHIDEULFDWLRQ3HQGDQW
ODYDOLGLWpGHOD
SUpVHQWHJDUDQWLHOLPLWpHGHFLQTDQ
&DIpIRXUQLUDpJDOHPHQWJUDWXLWHPHQWODPDLQ
G¶°XYUHHWOHVHUYLFHSRXUUpSDUHUODSLqFHGpIHFWXHXVHGDQVOHV\VWqPHIHUPpGXUpIULJpUDWHXU
FDIHDSSOLDQFHV
FD
7RXWHVOHVUpSDUDWLRQVHQYHUWXGHODJDUDQWLHVRQWIRXUQLVSDUQRV&HQWUHGH6HUYLFHG¶8VLQHRXSDUXQWHFKQLFLHQHQUpSDUDWLRQ
DXWRULVp3RXUSUpYRLUXQHUpSDUDWLRQFRQVXOWH]QRWUHVLWHFDIHDSSOLDQFHVFDVHUYLFH
9HXLOOH]DYRLUYRWUHQXPpURGHVpULHHWYRWUH
QXPpURGHPRGqOHjSRUWpHGHPDLQORUVTXHYRXVDSSHOH]SRXUREWHQLUXQVHUYLFH
(;&/86,21'(6*$5$17,(67$&,7(6
9RWUHUHFRXUVH[FOXVLIHVWO¶pFKDQJHGXSURGXLWVXLYDQWOHVPRGDOLWpVGHOD*DUDQWLH/LPLWpH7RXWHVJDUDQWLHVWDFLWHV\FRPSULV
OHVJDUDQWLHVGHYDOHXUVPDUFKDQGHVRXG¶DGpTXDWLRQjGHVILQVSDUWLFXOLqUHVVRQWOLPLWpHVjXQHGXUpHG¶XQDQRXjODGXUpHOD
SOXVFRXUWHDXWRULVpHSDUODORL
3RXUOHVFOLHQWVGHVeWDWV8QLV
&HWWHJDUDQWLHOLPLWpHHVWRIIHUWHjO¶DFKHWHXULQLWLDOHWjWRXWSURSULpWDLUHVXFFHVVLIGHSURGXLWVj
XVDJHGRPHVWLTXHjO¶LQWpULHXUGHVeWDWV8QLV6LOHSURGXLWHVWLQVWDOOpGDQVXQHUpJLRQRQHVHWURXYHDXFXQUpSDUDWHXUDXWRULVp
&DIpYRXVGHYUH]SHXWrWUHDVVXPHUOHVIUDLVGHWUDQVSRUWRXDSSRUWHUO¶DSSDUHLOjXQFHQWUHGHVHUYLFHDXWRULVp&DIp(Q$ODVNDOD
JDUDQWLHOLPLWpHH[FOXWOHVIUDLVG¶H[SpGLWLRQRXGHVHUYLFHjYRWUHGRPLFLOH
&HUWDLQVpWDWVQ¶DFFHSWHQWSDVG¶H[FOXVLRQRXGHOLPLWHVDX[GRPPDJHVLQGLUHFWVFRQVpFXWLIV&HWWHJDUDQWLHYRXVDFFRUGHGHV
GURLWVSDUWLFXOLHUVHWLOSHXWH[LVWHUG¶DXWUHVGURLWVTXLYDULHQWVHORQO¶eWDWRXODSURYLQFH
3RXUFRQQDvWUHYRVGURLWVMXULGLTXHVYHXLOOH]
FRQVXOWHUOHEXUHDXORFDORXOHEXUHDXG¶pWDWGHVDIIDLUHVDX[FRQVRPPDWHXUVRXOH3URFXUHXU*pQpUDOGHYRWUHpWDW
*DUDQWeWDWV8QLV*($SSOLDQFHV
a
+DLHU
company
/RXLVYLOOH.<
3RXUOHVFRQVRPPDWHXUVFDQDGLHQV
&HWWHJDUDQWLHHVWpWHQGXHjO¶DFKHWHXUG¶RULJLQHHWDX[SURSULpWDLUHVVXLYDQWVSRXUWRXWSURGXLW
DFKHWpDX[&DQDGDSRXUXQHXWLOLVDWLRQGRPHVWLTXHDX[&DQDGD/HVHUYLFHjGRPLFLOHHQYHUWXGHODJDUDQWLHVHUDIRXUQLGDQVOHV
UpJLRQVRLOHVWGLVSRQLEOHHWR0DEHHVWLPHUDLVRQQDEOHGHOHIRXUQLU
*DUDQW&DQDGD0&&RPPHUFLDO,QF%XUOLQJWRQ2QWDULR/5%
3RXUOHGLDJQRVWLFODUpSDUDWLRQGHYRWUHUpIULJpUDWHXUSHXWQpFHVVLWHUO¶XWLOLVDWLRQGXSRUWGHGRQQpHVHPEDUTXp&HOXLFL
SHUPHWDXWHFKQLFLHQGHUpSDUDWLRQ&DIpGHGLDJQRVWLTXHUUDSLGHPHQWGHVSUREOqPHVDYHFYRWUHDSSDUHLO,OSHUPHW
pJDOHPHQWj&DIpG¶DPpOLRUHUVHVSURGXLWVHQIRXUQLVVDQWjFHVGHUQLHUVGHVLQIRUPDWLRQVVXUYRWUHDSSDUHLO6LYRXVQH
YRXOH]SDVTXHOHVGRQQpHVGHYRWUHDSSDUHLOVRLHQWHQYR\pHVj&DIpYHXLOOH]GHPDQGHUjYRWUHWHFKQLFLHQGH1(3$6
VRXPHWWUHOHVGRQQpHVj&DIpSHQGDQWODUpSDUDWLRQ
*$5$17,(/,0,7e(
3RXUEpQpILFLHUGXVHUYLFHGHUpSDUDWLRQVRXVJDUDQWLH
XQHSUHXYHGHODGDWHG¶DFKDWLQLWLDOHVWQpFHVVDLUH