RXYHUW SDU O DUUrWp GXQRYHPEUHVXVYLVpHVWUHSRUWpHDXMXLOOHW HWMRXUVVXLYDQWV $UW  ± &KDTXH FDQGLGDW GRLW GpSRVHU VRQ GRVVLHU GH FDQGLGDWXUH GLUHFWHPHQW j OD GLUHFWLRQ UpJLRQDOH GH O HQVHLJQHPHQWVLVHDXJRXYHUQRUDWRLOUpVLGH $UW  ± /D OLVWH GHV FDQGLGDWXUHV DX FRQFRXUV VXVYLVp VHUDFORVHOHMXLQ 7XQLVOHQRYHPEUH /H0LQLVWUHGHO (GXFDWLRQ 0RQFHU5RXLVVL 9X /H3UHPLHU0LQLVWUH 0RKDPHG*KDQQRXFKL    0,1,67(5('(6$))$,5(662&,$/(6  120,1$7,216 3DUGpFUHWQƒGXQRYHPEUH 0DGHPRLVHOOH.KLUD&KHULIFRQVHLOOHUGHVVHUYLFHVSXEOLFV HVW FKDUJpH GHV IRQFWLRQV GH FKHI GH VHUYLFH GHV QRUPHV jOD VRXVGLUHFWLRQ MXULGLTXH GH VpFXULWp VRFLDOH j OD GLUHFWLRQ GHV pWXGHV MXULGLTXHV HW GHV QRUPHV j OD GLUHFWLRQ JpQpUDOH GH OD VpFXULWpVRFLDOHDXPLQLVWqUHGHVDIIDLUHVVRFLDOHV 3DJH 3DUGpFUHWQƒGXQRYHPEUH 0RQVLHXU 'KDIHU 1HML SURIHVVHXU SULQFLSDO GH O HQVHLJQHPHQWVHFRQGDLUHHVWFKDUJpGHVIRQFWLRQVGHFKHI GH VHUYLFH GHV SURJUDPPHV j OD VRXVGLUHFWLRQ GH OD UHFKHUFKHSpGDJRJLTXHHWGHVSURJUDPPHVjODGLUHFWLRQGH OD OXWWH FRQWUH O DQDOSKDEpWLVPH HW GH O HQVHLJQHPHQW GHV DGXOWHV j OD GLUHFWLRQ JpQpUDOH GH OD SURPRWLRQ VRFLDOH DX PLQLVWqUHGHVDIIDLUHVVRFLDOHV  3DUGpFUHWQƒGXQRYHPEUH 0RQVLHXU 5LGKD &KDNURXQ DGPLQLVWUDWHXU GX VHUYLFH VRFLDO HVW FKDUJp GHV IRQFWLRQV GH FKHI GH VHUYLFH GH O pYDOXDWLRQ j OD VRXVGLUHFWLRQ GH OD IRUPDWLRQ HW GH O pYDOXDWLRQjODGLUHFWLRQGHODOXWWHFRQWUHO DQDOSKDEpWLVPH HWGHO HQVHLJQHPHQWGHVDGXOWHVjODGLUHFWLRQJpQpUDOHGHOD SURPRWLRQVRFLDOHDXPLQLVWqUHGHVDIIDLUHVVRFLDOHV   0,1,67(5('(6'20$,1(6'(/ (7$7 (7'(6$))$,5(6)21&,(5(6  120,1$7,21 3DUGpFUHWQƒGXQRYHPEUH 0RQVLHXU 'KDRX %RXDELGL UpGDFWHXU DGMRLQW G DFWHV GH OD FRQVHUYDWLRQ GH OD SURSULpWp IRQFLqUH HVW FKDUJp GHV IRQFWLRQVGHFKHIGHVHUYLFHGHODUHIRQWHGHVWLWUHVIRQFLHUV HW GX GpSRXLOOHPHQW GH OHXUV GRQQpHV j OD GLUHFWLRQ UpJLRQDOH GH OD FRQVHUYDWLRQ GH OD SURSULpWp IRQFLqUH GH 0pGHQLQH   0,1,67(5('(67(&+12/2*,(6 '(/$&20081,&$7,21  'pFUHW Qƒ  GX  QRYHPEUH  IL[DQW OHV FRQGLWLRQV HW OHV SURFpGXUHV G XWLOLVDWLRQ GHV PR\HQVRXGHVVHUYLFHVGHFU\SWDJHjWUDYHUVOHV UpVHDX[ GHV WpOpFRPPXQLFDWLRQV DLQVL TXH O H[HUFLFHGHVDFWLYLWpV\DIIpUHQWHV /H3UpVLGHQWGHOD5pSXEOLTXH 6XUSURSRVLWLRQGHVPLQLVWUHVGHODGpIHQVHQDWLRQDOHHW GHVWHFKQRORJLHVGHODFRPPXQLFDWLRQ 9X OD ORL Qƒ  GX HU MXLOOHW  SRUWDQW RUJDQLVDWLRQ GX FRPPHUFH GH GLVWULEXWLRQ WHOOH TXH PRGLILpH HW FRPSOpWpH SDU OD ORL Qƒ  GX  IpYULHU  9X OD ORL Qƒ  GX  MXLOOHW  UHODWLYH j OD FRQFXUUHQFH HW DX[ SUL[ HQVHPEOH OHV WH[WHV TXL O RQW PRGLILpHVHWFRPSOpWpHVHWQRWDPPHQWODORLQƒGX PDL 9X OD ORL Qƒ   GX  GpFHPEUH  UHODWLYH jOD SURWHFWLRQGXFRQVRPPDWHXU -RXUQDO2IILFLHOGHOD5pSXEOLTXH7XQLVLHQQH²QRYHPEUH 1ƒ