Download Prévention des accidents de roller et de vélo
Transcript
'266,(5'(35(66( $RW 3UpYHQWLRQGHVDFFLGHQWV GHUROOHU GHYpOR &RQWDFWVSUHVVH &1$076&)(6 $QQH'(*528;WpO HPDLO DQQHGHJURX[#FIHVVDQWHIU %%'2&RUSRUDWH $QJpOLTXHG¶(67(9(WpO HPDLODGHVWHYH#EEGRFRUSRUDWHIU 6RPPDLUH ,/(52//(5 ,QWURGXFWLRQ S $'pEXWDQWVRXFRQILUPpVOHVULVTXHVH[LVWHQW S %3URWHFWLRQVHIILFDFHVPDWpULHODGDSWpHWDSSUHQWLVVDJH S $QQH[H /HUROOHUPRGHGHYLHHWGHWUDQVSRUW S $QQH[H /HVDFFLGHQWVGHUROOHUVGHVNDWHERDUGHWGHSDWLQVjURXOHWWHV S $QQH[H 6NDWHERDUGPRGHG·HPSORL S 8QDFFLGHQWVXUFLQTORUVGHODSUHPLqUHVRUWLH 'HVEOHVVXUHVORFDOLVpHV 3DVGHUROOHUVDQVSURWHFWLRQ &KRLVLUXQPDWpULHODGDSWp &RPPHQWGpEXWHU &RQVHLOVGHVpFXULWp /HVGLIIpUHQWHVIDFHWWHVGXUROOHU /HUROOHUHQFKLIIUHV 5pJOHPHQWDWLRQ GHVSLpWRQVjURXOHWWHV (WXGHUpDOLVpHSDUOH6HUYLFH0pGLFDOG¶$FFXHLOGHO¶+{SLWDO (GRXDUG+HUULRWj/\RQ S S S S S S S S S ,,/(9(/2 ,QWURGXFWLRQ $'HVULVTXHVUpHOVDX[FRQVpTXHQFHVJUDYHV (Q F\FOLVWHVWXpVDXWUHVEOHVVpV 'HVDFFLGHQWVTXLWRXFKHQWVRXYHQWOHVMHXQHVGHPRLQVGHDQV 'HVDFFLGHQWVGHODYLHGHWRXVOHVMRXUV &RQWXVLRQVWUDXPDWLVPHVFUkQLHQV« GHVVpTXHOOHVYDULpHVSRXYDQWrWUHWUqVJUDYHV 8QUHFRXUVIUpTXHQWDX[VRLQVPpGLFDX[ S S S S S S S %/HFDVTXH DFFHVVRLUHYLWDOSRXUWRXV S &&RQVHLOVGHSUpYHQWLRQFRPSOpPHQWDLUHVjO·XVDJHGHWRXV S $QQH[H /HVQRXYHOOHVSUDWLTXHVGXYpOR S 8QHUpJOHPHQWDWLRQTXLYDULHVHORQOHVSD\V 8QHFRQIRUPLWpjGHVQRUPHVSUpFLVHV &RPPHQWUHFRQQDvWUHXQERQFDVTXH 3RXUOHVDGXOWHV $WWHQWLRQDX[HQIDQWV 3RXUOHV© YHWWpWLVWHV ª (QYLOOHFRPPHjODFDPSDJQHOHYpORJDJQHGXWHUUDLQ /HYpORHQYLOOH YHUVXQHWURLVLqPH© YRLH ª " S S S S S S S S ,/(52//(5 ,QWURGXFWLRQ 8QYpULWDEOHSKpQRPqQHGHVRFLpWp /HVYLOOHVVRQWGHYHQXHVXQJUDQGWHUUDLQGHMHXTXDGULOOpWRXWDXORQJGHO¶DQQpHSDUOHVDGHSWHVGX UROOHU 0R\HQGHORFRPRWLRQQRQSROOXDQWHWQRQEUX\DQWOHUROOHUUpSRQGjGHVSUpRFFXSDWLRQVpFRORJLTXHV FURLVVDQWHV /H FLWDGLQ HQ UROOHU Q¶HVW SOXV WULEXWDLUH GHV WUDQVSRUWV HQ FRPPXQ HW GH OHXUV LQFRQYpQLHQWV&¶HVWXQHQRXYHOOHOLEHUWpXQPR\HQGHV¶DIILUPHURXGHVHVLQJXODULVHU 0R\HQ GH WUDQVSRUWLQGLYLGXHO RX SUDWLTXH © H[WUrPH ªPpODQJHG¶DGUHVVHGHIRUFHHWG¶pTXLOLEUH OH UROOHUHVWXQRXWLOG¶H[SUHVVLRQHWGHFUpDWLRQV\QRQ\PHG¶LQGpSHQGDQFHHWG¶pYDVLRQ 'HVULVTXHVG·DFFLGHQW /HUROOHUHVWXQVSRUWTXLSHXWrWUHGDQJHUHX[,OQHSHXWrWUHH[HUFpVDQVXQVpULHX[DSSUHQWLVVDJH(Q HIIHWDFFLGHQWVXUVHSURGXLWORUVGHODSUHPLqUHVRUWLH /HV FRQVpTXHQFHV GHV DFFLGHQWV SHXYHQW rWUH WUqV JUDYHV DYHF SDUIRLV GHV WUDXPDWLVPHV FUkQLHQV $XVVLDILQG¶pYLWHUOHVEOHVVXUHVHWGHSUpYHQLUOHVDFFLGHQWVPRUWHOVOD&1$076HWOH&)(6ODQFHQW XQHFDPSDJQHGHSUpYHQWLRQGHVWLQpHjIDYRULVHUSURJUHVVLYHPHQWXQHSULVHGHFRQVFLHQFHFROOHFWLYH /HPHVVDJHSULQFLSDOGHFHWWHFDPSDJQHUHSRVHVXUOHSRUWDEVROXPHQWLQGLVSHQVDEOHGHSURWHFWLRQV SURWqJHSRLJQHWVFRXGLqUHVJHQRXLOOqUHVHWFDVTXH ,OHVWpJDOHPHQWLPSRUWDQWSRXUOHVSUDWLTXDQWVGHFRQQDvWUHOHVGURLWVHWOHVGHYRLUVGHVUROOHUVDLQVLTXH OHV UqJOHV GH FLUFXODWLRQ TX¶LOV GRLYHQW UHVSHFWHU DILQ GH QH SDV rWUH XQ GDQJHU SRXU OHV DXWUHV XWLOLVDWHXUVGHODURXWHHWQRWDPPHQWOHVSLpWRQV $SSUHQGUHjVHVHUYLUGHVHVUROOHUVDYDQWGHVHODQFHUVXUOHELWXPHSRUWHUOHVSURWHFWLRQVPDUTXpHV &( FKRLVLU XQ PDWpULHO DGDSWp WHOV VRQW OHV FRQVHLOV VLPSOHV PDLV LQGLVSHQVDEOHV j O¶LQWpJUDWLRQ HQ WRXWHVpFXULWpGHVUROOHUVDXPRQGHXUEDLQ $'pEXWDQWVRXFRQILUPpVOHVULVTXHVH[LVWHQW 8QDFFLGHQWVXUFLQTORUVGHODSUHPLqUHVRUWLH /HVDFFLGHQWVWRXFKHQW SULQFLSDOHPHQWOHVMHXQHVkJpVGHjDQV /HVGpEXWVHQUROOHUV VRQWSDUWLFXOLqUHPHQWUHGRXWDEOHV (QHIIHWDFFLGHQWVXUVHSURGXLWSHQGDQW OHSUHPLHUPRLVGHSUDWLTXHHWPrPHVXUORUVGHODSUHPLqUHVRUWLH DFFLGHQWVVXUVRQWGXVjXQHFKXWHLQGLYLGXHOOH DORUVTXHOHVDFFLGHQWVSDUFROOLVLRQDYHFXQ WLHUVRXFRQWUHXQREVWDFOHIL[HVRQWDVVH]UDUHV DFFLGHQWVXU'DQVODPDMRULWpGHVFDV O·DFFLGHQWDOLHXVXUODYRLHSXEOLTXH GHV DFFLGHQWpV Q·RQW VXLYL DXFXQ DSSUHQWLVVDJH GX UROOHU HW QH SRUWDLHQW DXFXQH SURWHFWLRQ 'HVEOHVVXUHVORFDOLVpHV /HV DFFLGHQWV WRXFKHQW HQ PDMRULWp OHV PHPEUHV VXSpULHXUV GHV DFFLGHQWV VXUWRXW OHV SRLJQHWV GHV FDV /HV FRQVpTXHQFHV GHV FKXWHV SHXYHQW rWUH WUqV JUDYHV DYHF SDUIRLV GHV WUDXPDWLVPHVFUkQLHQV (QFDVGHFKXWHOHVIUDFWXUHV FRQFHUQHQW OHSRLJQHW OHJHQRX OHFRXGH O¶pSDXOH ODWrWH OHGRV OHWLELD ODFKHYLOOH OHFRFF\[ © &LUFXOHUHQUROOHUoDV¶DSSUHQG ª 3UpYHQWLRQ5RXWLqUH © /HVDFFLGHQWVGHUROOHUV ª (WXGHUpDOLVpHSDUOH6HUYLFH0pGLFDOG¶$FFXHLOGHO¶+{SLWDO(GRXDUG+HUULRWj/\RQ± FI$QQH[H % 3URWHFWLRQV HIILFDFHV PDWpULHO DGDSWp HW DSSUHQWLVVDJH 3DVGHUROOHUVDQVSURWHFWLRQ /HSRUWGHSURWHFWLRQVUpGXLWG·DXPRLQVOHULVTXH GHOpVLRQVWUDXPDWLTXHV 3URWqJHSRLJQHWV FRXGLqUHV JHQRXLOOqUHV HW FDVTXH VRQW LQGLVSHQVDEOHV TXH O¶RQ VRLW GpEXWDQW RX FRQILUPp x x x x x $EVROXPHQW QpFHVVDLUHV OHV SURWqJHSRLJQHWV SURWqJHQW GH O¶DFFLGHQW OH SOXV FRXUDQW OD IUDFWXUHGXSRLJQHW /HSRUWGHJDQWVHVWpJDOHPHQWYLYHPHQWUHFRPPDQGp (QFDVGHFKXWHHQDYDQWOHVJHQRXLOOqUHV V¶DYqUHQW LQGLVSHQVDEOHV(OOHVGRLYHQWrWUHIDFLOHV jHQILOHUHWQHSDVFRXSHUODFLUFXODWLRQGXVDQJ 3RUWpHVOHORQJGXEUDVOHVFRXGLqUHV VRQWPDLQWHQXHVSDUGHVEDQGHVYHOFUR (VVHQWLHOSRXUOHVJUDQGHVEDODGHVOHFDVTXH GRLWSRUWHUODQRUPH&( 6HORQOH%DURPqWUH6DQWp-HXQHV GHVSHUVRQQHVLQWHUURJpHVRQWGpFODUp DYRLU SRUWp XQ FDVTXH ORUV GH OHXU GHUQLqUH XWLOLVDWLRQ GH UROOHUV GH SDWLQV j URXOHWWHV RX GH VNDWHERDUG /HV KRPPHV VRQW SOXV QRPEUHX[ TXH OHV IHPPHV j GpFODUHU XWLOLVHU FHWWH SURWHFWLRQ FRQWUHDLQVLTXHOHVMHXQHVkJpVGHjDQVSRXUOHUROOHU RXOHSDWLQjURXOHWWHVSRXUOHVNDWH &HVpTXLSHPHQWVGHSURWHFWLRQGLVSRQLEOHVHQSOXVLHXUVWDLOOHVVRQWVRXYHQWYHQGXVHQNLWHWGRLYHQW rWUHFRQIRUPHVDX[QRUPHV&( &KRLVLUXQPDWpULHODGDSWp /HFKRL[GXSDWLQGpSHQGGHODSUDWLTXH 3RXU XQ GpEXWDQW HQ © ILWQHVV ª EDODGH WUDQTXLOOH LO HVW SUpIpUDEOH GH SULYLOpJLHU OH FRQIRUW HW OD PDQLDELOLWp 3RXU OHV © DFFURV GH OD UDQGR ª LO IDXW SDVVHU DX PRGqOH VXSpULHXU HQ pWDQW SOXV H[LJHDQW VXU OH PDLQWLHQGHODFKHYLOOHHWOHVHUUDJHGHODFKDXVVXUH &RPPHQWGpEXWHU" ,OQ¶HVWSDVVRXKDLWDEOHGHSUDWLTXHUOHUROOHUDYDQWO¶kJHGHDQVO¶HQIDQWQ¶D\DQWSDVXQHFRRUGLQDWLRQ HWXQVHQVGHO¶pTXLOLEUHVXIILVDQWV $FTXpULUGqVOHGpSDUWOHVSRVLWLRQVGHVpFXULWpHWOHVERQVUpIOH[HVHVWSULPRUGLDO&¶HVWG¶HX[TXHYRQW GpSHQGUHODVWDELOLWpGXUROOHUHQWRXWHVFLUFRQVWDQFHV 3DV TXHVWLRQ SRXU OHV GpEXWDQWV G¶DOOHU VXU OHV WURWWRLUV /HV SUHPLqUHV JOLVVHV VH IRQW GDQV GHV HVSDFHVSURWpJpV SDUNLQJVVDQVYRLWXUHHVSDFHVOLEUHVSODWVVHFVHWVDQVSLpWRQSRXUODVpFXULWp GHWRXV /DPHLOOHXUHVROXWLRQHVWGHV¶LQVFULUHGDQVXQFOXERXXQHDVVRFLDWLRQTXLGLVSHQVHGHVFRXUVGHJOLVVH XUEDLQH/DIRUPDWLRQSUDWLTXHGRLWPHWWUHO¶DFFHQWVXUO¶DXWRFRQWU{OHHWO¶DSSUHQWLVVDJHGHODFKXWH /DSUDWLTXHXUEDLQHVHIDLWHQVXLWHSURJUHVVLYHPHQWORUVTXHO¶RQPDvWULVHDXPRLQVGHX[WHFKQLTXHV GHIUHLQDJH HWTXHO¶RQVDLWJpUHUOHVWUDMHFWRLUHV &RQVHLOVGHVpFXULWp 2XWUHOHVSURWHFWLRQVHWXQPDWpULHODGDSWpYRLFLTXHOTXHVFRQVHLOVGHVpFXULWp x x x x x x (QWUHWHQLUVRLJQHXVHPHQWVRQPDWpULHODILQGHSUpYHQLUO¶XVXUHGHVIUHLQVHWGHVURXHV 3RUWHUGHVYrWHPHQWVFODLUVRXGHVEDQGHVUpIOpFKLVVDQWHVSRXUrWUHSOXVYLVLEOH (YLWHUGHURXOHUVXUFHUWDLQHVVXUIDFHV OHVUHYrWHPHQWVPRXLOOpV OHVDEOH ODWHUUHHWO¶KHUEHVDXISRXUV¶DUUrWHUHQFDVG¶XUJHQFH OHVUHYrWHPHQWVJUDQXOHX[ 0DvWULVHUVDYLWHVVH (QFDVGHFKXWHQHSDVODLVVHUVHVPDLQVDXVROHWVHUHOHYHUOHSOXVUDSLGHPHQWSRVVLEOH 6DYRLUV¶DUUrWHUjWHPSV DSUqVGHX[KHXUHVGHSDWLQDJHO¶DWWHQWLRQHWOHVUpIOH[HVVHUHOkFKHQW,O SHXWGRQFrWUHGDQJHUHX[GHFRQWLQXHUjURXOHU © &LUFXOHUHQUROOHUoDV¶DSSUHQG ª 3UpYHQWLRQ5RXWLqUH $QQH[H /H5ROOHUPRGHGHYLHHWGHWUDQVSRUW $FFHVVRLUH OXGLTXH j O·RULJLQH OH UROOHU FRQVWLWXH DXMRXUG·KXL XQ SKpQRPqQH GH VRFLpWp /D PXOWLSOLFDWLRQ GHV ERXWLTXHV G·pTXLSHPHQWV HW GHV OLHX[ G·DSSUHQWLVVDJH DLQVL TXH OD PRELOLVDWLRQ GHV DVVRFLDWLRQV HW GHV SRXYRLUV SXEOLFV SRXU IDLUH pYROXHU OD UpJOHPHQWDWLRQHQ WpPRLJQHQW $SSDUXj3DULVDXPRPHQWGHVJUDQGHVJUqYHVGHWUDQVSRUWVHQFRPPXQGHOHSKpQRPqQHUROOHU UHSUpVHQWH DXMRXUG¶KXL XQ YpULWDEOH VW\OH GH YLH XQ PRGH G¶H[SUHVVLRQ G¶KDELOOHPHQW &HUWDLQV RQW ODLVVp WRPEHU OHV WUDQVSRUWV HQ FRPPXQ RX OD YRLWXUH SRXU XWLOLVHU OHV UROOHUV FRPPH PR\HQ GH ORFRPRWLRQ /HVSUDWLTXDQWVSRXVVpVSDUO¶HQYLHGHV¶pYDGHUGXPLOLHXXUEDLQXWLOLVHQWOHUROOHUSRXUH[SULPHUOHXU VRLI GH OLEHUWp &HWWH SUDWLTXH Q¶HVW SOXV SHUoXH DXMRXUG¶KXL FRPPH XQ VLPSOH © MHX GH UXH ª PDLV FRPPH O¶RFFDVLRQ GH UHQFRQWUHV G¶pFKDQJHV HW G¶XQH UHFKHUFKH G¶KDUPRQLH DYHF O¶HQYLURQQHPHQW FLWDGLQ /HVGLIIpUHQWHVIDFHWWHVGX5ROOHU 3KpQRPqQH HQFRUH SULQFLSDOHPHQW XUEDLQ OH UROOHU FRPPHQFH j SDUWLU HQ YDFDQFHV 2Q SDWLQH HQ IDPLOOHRXHQJURXSHHQ)UDQFHRXjO¶pWUDQJHU$WLWUHG¶H[HPSOHO¶DVVRFLDWLRQ3ODQHW5ROOHU RUJDQLVH GHSXLVXQDQGHVUDQGRQQpHVDX[TXDWUHFRLQVGXJOREH /HUROOHUHVWDXVVLXQVSRUW© H[WUrPH ª DX[VHQVDWLRQVIRUWHVGRQWOHVGHX[SULQFLSDOHVGLVFLSOLQHVVRQW OH6WUHHWHWOD5DPSH /H675((7 FRQVLVWHjUpDOLVHUGHVILJXUHVG¶pTXLOLEUHVXUXQHSLVWHpTXLSpHG¶REVWDFOHVGHIRUPHVGLYHUVHV PRGXOHVSDQVLQFOLQpVFRXUEHVHWUDLOV ,VVX GH OD UXH OH 6WUHHW HVW OD SUDWLTXH OD SOXV IUpTXHQWH GX UROOHU TXL FRPSWH OH SOXV JUDQG QRPEUHG¶DGHSWHV/H6WUHHWUHTXLHUWEHDXFRXSG¶DWWHQWLRQHQUDLVRQGHODSUpFLVLRQWHFKQLTXH GHODFUpDWLYLWpHWGHO¶RULJLQDOLWpTX¶HOOHH[LJH /D5$03( HVW XQH VWUXFWXUH PpWDOOLTXH HQ IRUPH GH 8 VXU ODTXHOOH RQ HIIHFWXH GHV DOOHUUHWRXUV DYHF ILJXUHV /HV DGHSWHV GH OD UDPSH kJpV GH j DQV VRQW FRQVLGpUpV FRPPH OHV ULGHUV OHV SOXV VSRUWLIV/HVUDPSULGHUVHQ)UDQFHVRLWGHODSRSXODWLRQGHVULGHUVFRPSpWLWHXUV HVWLPpHjHQYLURQHIIHFWXHQWHQO¶DLUGHVURWDWLRQVGHVVDXWVHWGHVILJXUHV/¶H[HUFLFH HVWGHORLQOHSOXVLPSUHVVLRQQDQW/¶LQWpUrWHVWG¶DYRLUODWrWHHQEDVOHSOXVVRXYHQWSRVVLEOH /HUROOHUVHSUDWLTXHpJDOHPHQWDYHFXQWUHPSOLQDILQGHUpDOLVHUOHVVDXWVOHVKDXWVSRVVLEOHV&¶HVWOH -803 2QSHXWDXVVLIDLUHGXVODORPHQUROOHUVRXMRXHUDX5ROOHULQOLQHKRFNH\VRUWHGHKRFNH\VXUJODFHVXU URXOHWWHV /HUROOHUHQFKLIIUHV /D)UDQFHVHVLWXHGpVRUPDLVMXVWHGHUULqUHOHVSD\VOHDGHUV OHV(WDWV8QLVHWO¶$OOHPDJQH /HUROOHUFRPSWHSOXVGHPLOOLRQV GHSUDWLTXDQWVUpJXOLHUVRXRFFDVLRQQHOVHQ)UDQFHGRQWHQYLURQ PLOOLRQVHQUpJLRQSDULVLHQQH OLFHQFLpV GRQW OD PDMRULWp VH WURXYH HQ ,OHGH)UDQFH DGKqUHQW DXMRXUG¶KXL j OD )pGpUDWLRQ IUDQoDLVH GH UROOHUVNDWLQJ ,OOXVWUDWLRQ GX VXFFqV GH FHWWH SUDWLTXH OHV UDQGRQQpHV SDULVLHQQHV GX YHQGUHGL VRLU DWWLUHQW GpVRUPDLVHQWUH HW SDUWLFLSDQWV/HSKpQRPqQHSDULVLHQV¶pWHQG DXMRXUG¶KXLjO¶HQVHPEOHGXSD\V 6HORQOHVIDEULFDQWVG¶pTXLSHPHQWVOHPDUFKpIUDQoDLVGXUROOHUHVWLPpj PLOOLRQVGHIUDQFVHVW GHYHQXSOXVPDWXUH&¶HVWGpMjSDUWLHOOHPHQWXQPDUFKpGHUHQRXYHOOHPHQWFRPSRVpjGHUROOHUV © ILWQHVV ªGHVWLQpVjGHVDFWLYLWpVGHORLVLUVRXIDPLOLDOHV 3DUDOOqOHPHQW OH UROOHU HQ OLJQH HVW HQ SOHLQ ERRP HQ SOXV GH PLOOLRQ GH SDLUHV RQW pWp YHQGXHV3RXUOHVIDEULFDQWVLOQHV¶DJLWSDVWDQWGHJOLVVHUSOXVYLWHTXHGHJOLVVHUSOXVIDFLOHPHQW OD SULRULWpHVWDXFRQIRUWjODPDQLDELOLWpHWjODVpFXULWp 5pJOHPHQWDWLRQ GHVSLpWRQVjURXOHWWHV 6XUSULVSDUO¶DPSOHXUGXPRXYHPHQW© UROOHU ªOHVSRXYRLUVSXEOLFVHWOHVDVVRFLDWLRQVSODQFKHQWGHSXLV O¶DXWRPQHSRXUIDLUHpYROXHUODUpJOHPHQWDWLRQTXLDVVLPLOHHQFRUHOHSDWLQHXUjXQSLpWRQHWSRXU OXLWURXYHUVDSODFHVXUODFKDXVVpH $XMRXUG·KXLOHUROOHUHVWXQSLpWRQDX[\HX[GHODORL /HV UROOHUV RQW GRQF O¶REOLJDWLRQ GH FLUFXOHU VXU OHV WURWWRLUV G¶XWLOLVHU OHV SDVVDJHV SRXU SLpWRQV SRXU WUDYHUVHUODUXHGHUHVSHFWHUOHVIHX[WULFRORUHV (Q UHYDQFKH LOV QH SHXYHQW XWLOLVHU QL OD FKDXVVpH QL OHV SLVWHV F\FODEOHV 8Q UROOHU VH GpSODFH j HQYLURQ NPK PDLV VXU OH WURWWRLU LO GRLW VDQV FHVVH DGDSWHU VD YLWHVVH SRXU QH SDV JrQHU OHV SLpWRQV(QFDVG¶DFFLGHQWVDUHVSRQVDELOLWpSpQDOHSHXW rWUHHQJDJpHSRXUPLVHHQGDQJHUG¶DXWUXL /HVUROOHUVVRQWJpQpUDOHPHQWFRXYHUWVSDUO·DVVXUDQFHUHVSRQVDELOLWpFLYLOH PDLVLOYDXWPLHX[YpULILHUDXSUqVGHVRQDVVXUHXUTXHOHFRQWUDWQ¶H[FOXWSDVOHVGRPPDJHVFUppVSDU OD SUDWLTXH GX UROOHU /D )pGpUDWLRQ IUDQoDLVH GH UROOHUVNDWLQJ SURSRVH XQH DVVXUDQFH ORLVLUV TXL V¶DGUHVVHjWRXVOHVSDWLQHXUVHWSUHQGHQFKDUJHWRXVOHVGRPPDJHVFDXVpVSDUOHSDWLQHXUjDXWUXL © &LUFXOHUHQUROOHUoDV¶DSSUHQG ª 3UpYHQWLRQ5RXWLqUH $QQH[H /HVDFFLGHQWVGHUROOHUV GHVNDWHERDUGHWGHSDWLQVjURXOHWWHV (WXGHUpDOLVpHSDUOH6HUYLFH0pGLFDOG¶$FFXHLOGHO¶+{SLWDO(GRXDUG+HUULRWj/\RQ 'RFWHXUV$/HVSLQH0'HURXLFK(0DLHOOR &HWWHpWXGHUHSRVHVXUOHUHFXHLOHWO¶DQDO\VHGHWRXVOHVDFFLGHQWVFRQFHUQDQWOHVSDWLQVVXUURXHVVXU XQHSpULRGHGHPRLVDOODQWGXHU PDLDXRFWREUHFRQFHUQDQWOHVEOHVVpVTXLVHVRQW SUpVHQWpVRXRQWpWpDGUHVVpVDX6HUYLFH0pGLFDOG¶$FFXHLOGHO¶+{SLWDO(GRXDUG+HUULRW 'XUDQWFHWWHSpULRGHDFFLGHQWVGHSUDWLTXDQWVGHSDWLQVVXUURXHVRQWpWpUHFHQVpVSRXUXQWRWDO GHFRQVXOWDQWVGDQVOHVHUYLFHVRLWGHO¶HQVHPEOH /H SOXV JUDQG QRPEUH GH EOHVVpV V·REVHUYH GDQV OD WUDQFKH DQV GHV FDV HW FRQFHUQHGDYDQWDJHOHVKRPPHVTXHOHVIHPPHVFRQWUH 7DEOHDX $FFLGHQWVGH SDWLQVDXVHUYLFHPpGLFDOG¶DFFXHLOVXUPRLV 727$/ 52//(5 6.$7(%2$5' 3$7,16¬ 528/(77(6 1RPEUHGHFDV 6H[H PDVFXOLQ IpPLQLQ 7UDQFKHG¶kJH DQV 7UDXPDWLVPHV GX PHPEUHVXSpULHXU 7UDXPDWLVPHVGX SRLJQHWHWGH O¶H[WUpPLWpLQIpULHXUH GHO¶DYDQWEUDV 7UDXPDWLVPHV FUkQLHQV +RVSLWDOLVDWLRQV /HV WUDXPDWLVPHV GHV PHPEUHV VXSpULHXUV UHSUpVHQWHQW GH O¶HQVHPEOH GRQW SRXU OH UROOHU /HV WUDXPDWLVPHV GX SRLJQHW HW GH O¶DYDQWEUDV UHSUpVHQWHQW GHV FDV GRQW SRXUOHUROOHU 'HVOpVLRQVFXWDQpHVRQWpWpREVHUYpHVFKH]GHVEOHVVpVGRQWSRXUOHUROOHU /HVWUDXPDWLVPHVFUkQLRIDFLDX[UHSUpVHQWHQWGRQWSRXUOHUROOHU /DSURSRUWLRQGHVKRVSLWDOLVpVHVWGHGRQWSRXUOHUROOHU $QQH[H 6NDWHERDUGPRGHG·HPSORL x x x x 3RUWHUXQFDVTXH,OHVWSUpIpUDEOHG¶pYLWHUOHVFDVTXHVGHYpORRXGHKRFNH\HWG¶XWLOLVHUXQFDVTXH GHVNDWHERDUG(QHIIHWFHOXLFLSURWqJHWRXWHODWrWHWHPSHVFRPSULVHVVDQVHPSrFKHUGHYRLUQL G¶HQWHQGUH /HVFKXWHVILQLVVHQWVRXYHQWVXUOHVFRXGHV,OHVWGRQFQpFHVVDLUHGHSRUWHUGHVFRXGLqUHVSRXU DPRUWLUOHVFKRFV /HVJHQRX[VRQWpJDOHPHQWVXVFHSWLEOHVGHSUHQGUHGHVFRXSV RQFKRLVLWUDUHPHQWVDSRVLWLRQGH FKXWH,OHVWGRQFLQGLVSHQVDEOHGHSRUWHUGHVJHQRXLOOqUHV /RUVG¶XQHFKXWHHQVNDWHOHVPDLQVVHUYHQWG¶DPRUWLVVHXUV$ILQG¶pYLWHUHQWRUVHVHWIUDFWXUHVOH SRUWGHSURWqJHSRLJQHWVHVWYLYHPHQWUHFRPPDQGp /H FDVTXH OHV FRXGLqUHV OHV JHQRXLOOqUHV HW OHV SURWqJHSRLJQHWV GRLYHQW QpFHVVDLUHPHQW SRUWHU OD PDUTXH&(TXLJDUDQWLWOHXUFRQIRUPLWpDX[QRUPHVHQYLJXHXU ,,/(9(/2 ,QWURGXFWLRQ ,GpDO SRXU OHV EDODGHV HW OHV UDQGRQQpHV RX XWLOLVp FRPPH © VHFRQGH YRLWXUH ª OH YpORUpSRQG j XQ EHVRLQGHOLEHUWpHWG¶pYDVLRQ$FWLYLWpSOXW{WPRGHUQHHWSHXFRWHXVHODELF\FOHWWHSODvWjWRXVHWjWRXW kJH $XMRXUG¶KXL RQ FRPSWH HQ )UDQFH SOXV GH PLOOLRQV GH F\FOLVWHV &H FKLIIUH UHFRXYUH GHV SUDWLTXHVWUqVGLYHUVHV 8WLOLVpFRPPHPR\HQGHWUDQVSRUWOHYpORJDUDQWLWDXWRQRPLHHWIDFLOLWpGHVWDWLRQQHPHQWGHV F\FOLVWHVO¶RQWFKRLVLSRXUOHXUV GpSODFHPHQWVTXRWLGLHQV 0DLVOHYpORF¶HVWDXVVLXQVSRUWHWPrPHSDUIRLVXQVSRUWH[WUrPH'HODUDQGRQQpHHQ977DX[VDXWV HWILJXUHVHQ%0;OHYpORHVWXQHGLVFLSOLQHTXLUHTXLHUWDGUHVVHHWDXGDFH /HF\FOLVPHSHXWrWUHXQVSRUWGDQJHUHX[/HVFKXWHVUHSUpVHQWHQWGHVFDXVHVG¶DFFLGHQWVGRQW OHV FRQVpTXHQFHV SHXYHQW rWUH WUqV JUDYHV /HV OpVLRQV OHV SOXV FRXUDQWHV VRQW OHV FRQWXVLRQV OHV WUDXPDWLVPHVFUkQLHQVHWOHVIUDFWXUHVGXFUkQH $ILQ GH IDLUH UHFXOHU OHV WUDXPDWLVPHV HW GH SUpYHQLUOHV DFFLGHQWV PRUWHOV OD &1$076 HW OH &)(6ODQFHQWXQHFDPSDJQHGHSUpYHQWLRQGHVWLQpHjIDYRULVHUOHSRUWGXFDVTXH $FFHVVRLUH YLWDO QRQ REOLJDWRLUH j FH MRXU HQ )UDQFH DXMRXUG·KXL OH FDVTXH SHUPHW HQ FDV G·DFFLGHQWVGHUpGXLUHGHOHVWUDXPDWLVPHVFUkQLHQVHWGHOHVOpVLRQVDXFHUYHDX 6DYRLUUHFRQQDvWUHXQERQFDVTXHQHSDVXWLOLVHUXQFDVTXHD\DQWVXELXQFKRFIDLUHSRUWHUXQFDVTXH DX[HQIDQWVWHOVVRQWOHVFRQVHLOVVLPSOHVPDLVHIILFDFHVTX¶LOHVWERQGHUDSSHOHUDX[© DFFURV ªGX YpOR $'HVULVTXHVUpHOVDX[FRQVpTXHQFHVJUDYHV /HF\FOLVPHHVWOHVSRUWTXLSURYRTXHOHSOXVG¶DFFLGHQWVVHORQXQHpWXGHWUqVUpFHQWH'HSOXVFHV DFFLGHQWVRQWJpQpUDOHPHQWGHVFRQVpTXHQFHVVpULHXVHVSRXUODVDQWpG¶HQWUHHX[HQWUDvQHQWXQ VpMRXUjO¶K{SLWDODYHFXQHPR\HQQHGHMRXUVG¶KRVSLWDOLVDWLRQ'DQVOHVFDVOHVSOXVJUDYHVOHV DFFLGHQWVGHYpORVRQWPRUWHOV (Q F\FOLVWHVWXpVDXWUHVEOHVVpV 6HORQO¶2EVHUYDWRLUHQDWLRQDOGHODVpFXULWpURXWLqUHLO\DHXHQF\FOLVWHVWXpVVXUODURXWHHW DXWUHV EOHVVpV SOXV RX PRLQV JUDYHPHQW /H QRPEUH GH YLFWLPHV G¶DFFLGHQWV GH YpOR HVW HQ KDXVVHGHSDUUDSSRUWjOHQRPEUHGHEOHVVpVHVWHQEDLVVHGH &HV DFFLGHQWV VXUYLHQQHQW SOXV IUpTXHPPHQW HQ PLOLHX XUEDLQ TX¶j OD FDPSDJQH FDV FRQWUH ,OV VH SURGXLVHQW SOXW{W OH MRXU FRQWUH OD QXLW HW WRXFKHQW PDMRULWDLUHPHQW OHV KRPPHVFRQWUHGHIHPPHV 'HVDFFLGHQWVTXLWRXFKHQWVRXYHQWOHVMHXQHVGHPRLQVGHDQV /HVDFFLGHQWVGHELF\FOHWWHVXUYLHQQHQWGHX[IRLVVXUWURLVFKH]GHVHQIDQWVGHPRLQVDQV(Q RQFRPSWHWXpVHWEOHVVpVFKH]OHVMHXQHVkJpVGHjDQVHWWXpVHWEOHVVpV SDUPLOHVDGROHVFHQWVGHjDQV /HV SHUVRQQHV GH SOXV GH DQV VRQW pJDOHPHQWYLFWLPHVG¶DFFLGHQWV(QRQDGpQRPEUp WXpV HW EOHVVpV FKH] OHV SHUVRQQHV kJpHV GH j DQV WXpVHWEOHVVpV SDUPLFHOOHV kJpHVGHjDQVHWWXpVHWEOHVVpVFKH]OHVSHUVRQQHVkJpHVGHjDQV &I(WXGHH[SORUDWRLUHGX&RPLWpUpJLRQDOG¶pGXFDWLRQSRXUODVDQWpGX/DQJXHGRF5RXVVLOORQ &I5DSSRUW21,656(75$± $QQpH 'HVDFFLGHQWVGHODYLHGHWRXVOHVMRXUV /HV DFFLGHQWV VXUYLHQQHQW HQ JpQpUDO ORUVG¶DFWLYLWpV GH VSRUW RXGHORLVLUVjSUR[LPLWpGHODPDLVRQ ORUVTX¶LOV¶DJLWGHMHXQHVHQIDQWV &RQWXVLRQVWUDXPDWLVPHVFUkQLHQV« GHVVpTXHOOHVYDULpHVSRXYDQWrWUHWUqVJUDYHV /HVFKXWHVUHSUpVHQWHQWGHVFDXVHVG¶DFFLGHQWV x x x /DWrWHHVWWRXFKpHGDQVGHVFDV&HFKLIIUHDWWHLQWSRXUOHVHQIDQWVkJpVGHj DQVHWSRXUODWUDQFKHDQV /HVFRQWXVLRQVVRQWOHVOpVLRQVOHVSOXVLPSRUWDQWHVGDQVOHVDFFLGHQWVGHELF\FOHWWHGHV FDV /HWDX[GHIUDFWXUHVHVWpJDOHPHQWLPSRUWDQWFKH]OHVMHXQHVkJpVGHjDQVDLQVLTXH FKH]OHVSHUVRQQHVGHSOXVGHDQV /HVOpVLRQVOHVSOXVFRXUDQWHVVRQWOHVFRQWXVLRQVOHVWUDXPDWLVPHVFUkQLHQVDYHFRXVDQV SHUWHGHFRQQDLVVDQFHHWOHVIUDFWXUHVGXFUkQHGDQVOHVFDVOHVSOXVJUDYHV/HVEOHVVXUHV jODWrWHVRQWODSULQFLSDOHFDXVHGHGpFqVFKH]OHVF\FOLVWHV 0rPHXQFKRFPRGpUpSHXWSURYRTXHUGHVGRPPDJHVLUUpYHUVLEOHVDXFHUYHDX&HVOpVLRQV VRQWEHDXFRXSSOXVGLIILFLOHVjUpSDUHUTXHODIUDFWXUHG·XQHMDPEHRXG·XQEUDV 8QUHFRXUVIUpTXHQWDX[VRLQVPpGLFDX[ /HVDFFLGHQWVGHYpORSURYRTXHQWGDQVGHVFDVXQHKRVSLWDOLVDWLRQ&HFKLIIUHDWWHLQW FKH]OHV SHUVRQQHV kJpHV GH j DQV HW FKH] FHOOHV GH SOXV GH DQV &HV DFFLGHQWV SHXYHQW QpFHVVLWHUGHODUppGXFDWLRQHWODLVVHUGHVVpTXHOOHVHWGHVFLFDWULFHV %/HFDVTXH XQDFFHVVRLUHYLWDOSRXUWRXV 3RUWHU XQ FDVTXH SHXW VDXYHU OD YLH RX pYLWHU GH JUDYHV VpTXHOOHV FpUpEUDOHV 6HORQ XQH pWXGH UpDOLVpHj6HDWWOHDX[(WDWV8QLVOHSRUWG¶XQFDVTXHFRQIRUPHDX[QRUPHVSHUPHWHQFDVG¶DFFLGHQW GHUpGXLUHGHOHVWUDXPDWLVPHVFUkQLHQVHWUpVXOWDWSULPRUGLDOGHOHVOpVLRQVDXFHUYHDX )DFHjFHWWHUpDOLWpFHUWDLQVSD\VRQWUHQGXOHSRUWGXFDVTXHREOLJDWRLUH 8QHUpJOHPHQWDWLRQTXLYDULHVHORQOHVSD\V /HSRUWGXFDVTXHHVWWUqVUpSDQGX GDQVOHVSD\VVFDQGLQDYHV HWDpWpUHQGXREOLJDWRLUHGDQVO¶(WDWGX 9LFWRULDHQ$XVWUDOLHHQ*pRUJLHHWDX1HZ-HUVH\DX[(WDWV8QLV ,OHVWREOLJDWRLUHGDQVOHPRQGHHQWLHUHQFRPSpWLWLRQ (Q MXLOOHW O¶(WDW GX 9LFWRULD HQ $XVWUDOLH D LPSRVp j WRXV OHV F\FOLVWHV OH SRUW GX FDVTXH /D SUHPLqUH DQQpH G¶DSSOLFDWLRQ GH OD ORL OH QRPEUH GH F\FOLVWHV WXpV RX DGPLV j O¶K{SLWDO D EDLVVp GH ODGHX[LqPHDQQpHGH (Q6XqGHRQREVHUYHpJDOHPHQWXQHGLPLQXWLRQGXQRPEUHGHWXpVRXGHEOHVVpVJUDYHVGHSXLVTXH OHSRUWGXFDVTXHHVWSUpFRQLVp (Q(VSDJQHOHSRUWGXFDVTXHHVWREOLJDWRLUHjODFDPSDJQHGHSXLVIpYULHU /D )pGpUDWLRQ IUDQoDLVH GH F\FORWRXULVPH ))&7 UHFRPPDQGH HW LQFLWH YLYHPHQW WRXV OHV SUDWLTXDQWVj SRUWHU XQ FDVTXH $XMRXUG¶KXLSOXV GHGHVHVDGKpUHQWVOHSRUWHQW DXFRXUVGHV UDQGRQQpHVFRQWUHHQ 6HORQOH%DURPqWUH6DQWp-HXQHV GHVSHUVRQQHVLQWHUURJpHVRQWGpFODUpDYRLUSRUWp XQFDVTXHORUVGHOHXUGHUQLqUHXWLOLVDWLRQGHYpOR/HVKRPPHVVRQWVLJQLILFDWLYHPHQWSOXVQRPEUHX[ TXHOHVIHPPHVjrWUHGDQVFHFDVFRQWUHDLQVLTXHOHVWUqVMHXQHVSHUVRQQHV FKH] OHV DQV 6HORQ OH W\SH GH YpOR OH SRXUFHQWDJH GH SRUW GX FDVTXH GLIIqUH $LQVL G·XWLOLVDWHXUVGH977RQWSRUWpOHXUFDVTXHODGHUQLqUHIRLVFRQWUHSRXUOH%0;HW SRXU OHYpOR© FODVVLTXH ª &¶HVWG¶DLOOHXUVODSHUFpHGX977GDQVOHVDQQpHVTXLDFRQWULEXpjO¶LQFLWDWLRQDXSRUWGXFDVTXH GHVDQVSUDWLTXDQWOHYpORQHSRUWHQWSDVGHFDVTXH HWVHXOHPHQWGpFODUHQWWRXMRXUVHQSRUWHUXQ 6HORQXQHO¶HQTXrWH+%6& UpDOLVpHDXSUqVG¶HQIDQWVkJpVGHjDQVOHSRUWGXFDVTXHj YpORQ¶HVWSDVHQFRUHHQWUpGDQVOHVP°XUVGHVSHWLWV)UDQoDLV 6HXOV GHV DGHSWHV GX YpOR GLVHQW WRXMRXUV SRUWHU XQ FDVTXH FRQWUH TXL GpFODUHQW QH MDPDLVHQ SRUWHURXUDUHPHQW /HV SOXV MHXQHV VRQW GHX[ IRLV SOXV QRPEUHX[ TXH OHXUV DvQpV j V\VWpPDWLTXHPHQW PHWWUH OHXU FDVTXHjDQVFRQWUHjDQV /HVJDUoRQVVHSURWqJHQWPLHX[TXHOHVILOOHVHOOHVVRQWGHSOXVjGpFODUHUQHMDPDLVPHWWUHGH FDVTXH &HW pFDUW WLHQW VDQV GRXWH j OD SUDWLTXH SOXW{W PDVFXOLQH GX YpOR WRXW WHUUDLQ HW DX GpVLU G¶HQ DUERUHUWRXVOHVDWWULEXWVGRQWOHFDVTXH 4 (QTXrWH© +HDOWK%HKDYLRXULQVFKRRODJHGFKLOGUHQ ª/HVDQQpHVFROOqJH)UDQFH 8QHFRQIRUPLWpjGHVQRUPHVSUpFLVHV /D GLUHFWLYH HXURSpHQQH HW OH GpFUHW IUDQoDLV UHODWLIV DX[ pTXLSHPHQWV GH SURWHFWLRQ LQGLYLGXHOV LPSRVHQWDX[IDEULFDQWVGHFDVTXHVOHUHVSHFWG¶XQFHUWDLQQRPEUHG¶H[LJHQFHVHVVHQWLHOOHVGHVpFXULWp FRQFHUQDQW QRWDPPHQW OD SURWHFWLRQ FRQWUH OHV FKRFV OHV IDFWHXUV G¶HIILFDFLWp OHV V\VWqPHV GH UpJODJHHWF /D FRQIRUPLWpjFHVH[LJHQFHVHVVHQWLHOOHVGRLWrWUHDWWHVWpHSDUOHIDEULFDQWHQDSSRVDQWXQPDUTXDJH &(2XWUHOHPDUTXDJH&(GHVQRUPHVHXURSpHQQHVHWDPpULFDLQHVVRQWLQGLTXpHV &RPPHQWUHFRQQDvWUHXQERQFDVTXH x 8QERQFDVTXHGRLWSURWpJHUOHIURQWOHKDXWHWO¶DUULqUHGHODWrWHDLQVLTXHOHVWHPSHV x ,OQHGRLWSDVDIIHFWHUO¶DXGLWLRQGHVRQXWLOLVDWHXU x x x x x x x x /HFDVTXHQHGRLWSDVOLPLWHUOHFKDPSGHYLVLRQHWSHUPHWWUHG¶XWLOLVHUGHVOXQHWWHV 6RQV\VWqPHGHIL[DWLRQGRLWrWUHVLPSOHjRXYULURXj IHUPHU/HVVDQJOHVGRLYHQWrWUHUpJODEOHV VDQVrWUHpODVWLTXHV(OOHVGRLYHQWPDLQWHQLUIHUPHPHQWOHFDVTXHHQSODFHPrPHORUVG¶XQHFKXWH /HFDVTXHGRLWrWUHOpJHUELHQYHQWLOpFRQIRUWDEOHHWGHFRXOHXUYLYHSRXUrWUHELHQYXGHVDXWUHV XVDJHUVGHODURXWH ,OHVWLPSRUWDQWGHYpULILHUTXHOHFDVTXHSRUWHVXUVRQpWLTXHWWHRXVXUVRQHPEDOODJHXQHUpIpUHQFH GH FRQIRUPLWp j XQH RX SOXVLHXUV QRUPHV GH VpFXULWp HXURSpHQQHV %6 ',1 1) RX .29 RX DPpULFDLQHV$16,61(//RX$670 %RQjVDYRLU ,OHVWLPSRUWDQWGHQHSDVKpVLWHUjHVVD\HUSOXVLHXUVFDVTXHVDYDQWG¶HQFKRLVLUXQ ,OHVWLQGLVSHQVDEOHGHIDLUHSRUWHUXQFDVTXHDX[HQIDQWVPrPHORUVTX¶LOVVRQWWUqVMHXQHVHWVXU XQVLqJHGHYpORSRXUDGXOWH /HERQPRPHQWSRXUDFKHWHUXQFDVTXHDX[HQIDQWV ORUVTX RQUHWLUHOHVSHWLWHVURXHVGHOHXUYpOR RXTX¶RQOHXUDFKqWHXQQRXYHDXYpOR 7RXWFDVTXHTXLVXELWXQFKRFLPSRUWDQWQHGRLWSDVrWUHUpXWLOLVp FI'LUHFWLYHHXURSpHQQHQ&()GXGpFHPEUHWUDQVSRVpHHQ)UDQFHSDUOHGpFUHWQGXDRW 'DQVOHFDGUHGHVFDVTXHVSRXUF\FOLVWHVFHPDUTXDJHHVWHQWUpHQDSSOLFDWLRQHQMXLOOHW FI)LFKHVWHFKQLTXHVGHOD&RPPLVVLRQQDWLRQDOHGHVpFXULWpGHVFRQVRPPDWHXUV 5 & &RQVHLOV GH SUpYHQWLRQ FRPSOpPHQWDLUHV j O·XVDJHGHWRXV 3RXUOHVDGXOWHV x x x x x x x x x x x &KRLVLU HQ SULRULWp GHV LWLQpUDLUHV PXQLV GH SLVWHV F\FODEOHV RX j GpIDXW GHV URXWHV SHX IUpTXHQWpHV,OFRQYLHQWG¶pYLWHUOHVURXWHVQDWLRQDOHV 2EVHUYHUOHFRGHGHODURXWHHQWRXVOLHX[HWHQWRXWHVFLUFRQVWDQFHV 9HLOOHUjO¶HQWUHWLHQGHODELF\FOHWWHFkEOHVGHIUHLQVSUHVVLRQHWXVXUHGHVSQHXVpFODLUDJH $OOXPHU OHV SKDUHV GqV OD WRPEpH GH OD QXLW HW SRUWHU GHV YrWHPHQWV FODLUV RX XQ EUDVVDUG IOXRUHVFHQW 6LJQDOHUHQWHQGDQWOHEUDVWRXWFKDQJHPHQWGHGLUHFWLRQ (QJURXSHURXOHUHQILOHLQGLHQQH (QFDVGHORQJXHGLVWDQFHHPSRUWHUGXUDYLWDLOOHPHQW 1H SDV SRUWHU GH YrWHPHQWVDPSOHV RX GH JUDQGHV pFKDUSHV TXL SRXUUDLHQWVHEORTXHUGDQVOHV UD\RQVGHVURXHVRXGDQVOHSpGDOLHU 3RUWHUGHVOXQHWWHVGHVROHLOpEORXLVVHPHQWLQVHFWHV 3RUWHUGHVJDQWVGHSURWHFWLRQ ,OHVWUHFRPPDQGpGHPXQLUVDELF\FOHWWHG¶XQUpWURYLVHXU $WWHQWLRQDX[HQIDQWV x x x x 8QDGXOWHDFFRPSDJQDQWXQHQIDQWGRLWOHIDLUHURXOHUGHYDQWOXLGHPDQLqUHjOHVXUYHLOOHUWRXWHQ JDUGDQWXQHFHUWDLQHGLVWDQFHHQWUHOHVGHX[PHQYLURQ 6¶DVVXUHU TXH OH YpOR GH O¶HQIDQW HVW DGDSWp j VD WDLOOH LO GRLW SRXYRLU DWWHLQGUH OH VRO DYHF VHV SLHGV $SSUHQGUHDX[HQIDQWVOHVUqJOHVHVVHQWLHOOHVGXFRGHGHODURXWHVWRSVHQVLQWHUGLWV« (QFDVGHWUDQVSRUWG¶XQHQIDQWHQEDVkJHpTXLSHUODELF\FOHWWHG¶XQVLqJHSHUPHWWDQWODSURWHFWLRQ GHVHVMDPEHVHWOXLpYLWDQWGHWRPEHURXGHGpVpTXLOLEUHUOHYpOR 3RXUOHV© YHWWpWLVWHV ª x 3UpSDUHUO¶LWLQpUDLUH x 5HVSHFWHUOHVSULRULWpVHW OHVSDQQHDX[LQWHUGLVDQWODSUDWLTXHGX977SDUFVQDWLRQDX[SURSULpWpV SULYpHVWHUUDLQVPLOLWDLUHV« x x x x x x (YLWHUGHSDUWLUVHXO /D IRXUFKH DYDQW GX 977 GRLW rWUH SRXUYXH G¶XQ FURFKHW HPSrFKDQW OH FkEOH GH IUHLQ DYDQW GH WRPEHUVXUOHSQHXFUDQWpULVTXHVGHFKXWHVEUXWDOHV 3RXUODFLUFXODWLRQGHQXLWVHPXQLUGHV\VWqPHVG¶pFODLUDJHDYDQWHWDUULqUHHQJpQpUDODOLPHQWpV SDUSLOHV/DPDMRULWpGHV977VRQWGpSRXUYXVG¶pFODLUDJHRUF¶HVWREOLJDWRLUHSRXUURXOHUVXUODYRLH SXEOLTXH 9pULILHUDXPRPHQWGHO¶DFKDWVLFHOD HVWSRVVLEOHTXHOHGLVSRVLWLIGHVHUUDJHGHODVHOOHHWGHV URXHVHVWVXIILVDQWSRXUQHSDVVHGHVVHUUHUORUVGXSDVVDJHG¶XQREVWDFOH (PSRUWHUXQQpFHVVDLUHGHUpSDUDWLRQXQHWURXVVHGHSUHPLqUHXUJHQFHHWXQHFDUWHGpWDLOOpHGX SDUFRXUV 6¶LQIRUPHUGHVFRQGLWLRQVPpWpRURORJLTXHVDYDQWGHSDUWLUHQPRQWDJQH $QQH[H /HVQRXYHOOHVSUDWLTXHVGXYpOR (QYLOOHFRPPHjODFDPSDJQHOHYpORJDJQHGXWHUUDLQ %DODGHVUDQGRQQpHVRX© VHFRQGHYRLWXUH ªOHYpORUpSRQGjXQEHVRLQGHOLEHUWpHWG¶pYDVLRQ$FWLYLWp SOXW{WPRGHUQHHWSHXFRWHXVHODELF\FOHWWHSODLWjWRXVHWjWRXWkJH 'pWHQWH VDQWp QDWXUH VSRUW UHVSHFW GH O¶HQYLURQQHPHQW OHV PRWLYDWLRQV VRQW QRPEUHXVHV OHV SUDWLTXDQWVDXVVL(QHIIHWSHUVRQQHVGHSOXVGHDQVIRQWGXYpORHQ)UDQFHDXMRXUG¶KXL &H FKLIIUH UHFRXYUH GHV IRUPHV GH SUDWLTXHV WUqV GLYHUVHV /HV F\FOLVWHV UpJXOLHUV VRQW HVWLPpV j PLOOLRQV 5pSDUWLWLRQGHVOLFHQFHVGHOD)pGpUDWLRQ)UDQoDLVHGH&\FOLVPH))& SDUGLVFLSOLQHVDQQpHOLFHQFLpV 977 %0; $XWUHV &\FOLVPHWUDGLWLRQQHO &\FOLVPHVXUURXWHF\FOLVPHVXUSLVWHF\FORFURVV &\FOLVPHHQVDOOH)UHH6W\OH3ROR9pOR9pOR7ULDO /HSDUFYpORFLSpGLTXHIUDQoDLVFRPSWHPLOOLRQVGHYpORV x 977 x 9pORVGHYLOOH x 9pORVGHFRXUVH x 9pORVGHURXWH x 97&9pOR7RXW&KHPLQ /HYpORWUDQVSRUW /HYpORHVWXWLOLVpFRPPHXQPR\HQGHGpSODFHPHQW$XWRQRPLHOLEHUWpIDFLOLWpGHVWDWLRQQHPHQWRX UHVSHFWGHO¶HQYLURQQHPHQWOHVPRWLYDWLRQVVRQWQRPEUHXVHV /HYpORORLVLU $FWLYLWp VSRUWLYHGHGpWHQWHHWGHORLVLUOHF\FORWRXULVPH HVWODSUDWLTXHGHODUDQGRQQpHHWGXWRXULVPH jYpORVXUURXWHRXj977 3DV GH FKURQRPqWUH SDV GH FODVVHPHQW QL GH FRPSpWLWLRQ OH F\FORWRXULVPH SHUPHW j FKDFXQ GH YR\DJHU HW GH VH SURPHQHU j YpOR j VRQ SURSUH U\WKPH TXHOV TXH VRLHQW VRQ kJH HW VD FRQGLWLRQ SK\VLTXH 'HODFRXUWHEDODGHjODUDQGRQQpHGHSOXVLHXUVMRXUVVXLYDQWGHVLWLQpUDLUHVSUpSDUpVRXjO¶DYHQWXUH VXUGHVURXWHVVHFRQGDLUHVRXGHVVHQWLHUVVHXORXHQJURXSHOHF\FORWRXULVPHVHSUDWLTXHSDUWRXVOHV WHPSVHWHQWRXVOLHX[ $UWLFXOpH DXWRXU GH WURLV REMHFWLIV ± OH VSRUW OH WRXULVPH HW OD FXOWXUH ± FHWWH GLVFLSOLQH WLUH WRXWH VD ULFKHVVHGHODGLYHUVLWpGHVHVSUDWLTXHV /HYpORVSRUWLI !/H977± $UULYpHQ)UDQFHGDQVOHVDQQpHVDYHFODJpQpUDWLRQGHVVSRUWVGHJOLVVHOH977D G\QDPLVpODSUDWLTXHGXYpOR/¶HQJRXHPHQWHQIDYHXUGX977V¶H[SOLTXHSDUO¶HQYLHGHVHUDSSURFKHU GHODQDWXUHOHEHVRLQG¶pYDVLRQGHOLEHUWpODUHFKHUFKHGHQRXYHOOHVVHQVDWLRQV ,O WRXFKH XQH SRSXODWLRQ GH SOXV HQ SOXV QRPEUHXVH HW QpFHVVLWH GH QRXYHDX[ EHVRLQV HQ PDWLqUH G¶LQIUDVWUXFWXUHG¶HQFDGUHPHQWHWGHSUpYHQWLRQ $XMRXUG¶KXLOH977FRQWLQXHVRQGpYHORSSHPHQWGDQVOHFDGUHGHODUDQGRQQpHGHODGpFRXYHUWHHWGX ORLVLU !/H%0;%LFURVV ± /HELFURVVHVWjPLFKHPLQHQWUHODPRWRHWOHYpOR$XGpEXWGHVDQQpHV GHVSLORWHVGHPRWRFURVVLQYHQWDLHQWOH%0;ELF\FOHPRWRFURVVSRXUOHXUVHQIDQWVWURSMHXQHVSRXU URXOHU j PRWR (Q O¶DVVRFLDWLRQ IUDQoDLVH GH ELFURVVLQJ HVW FUppH /H HU MDQYLHU FHWWH DVVRFLDWLRQ UHMRLQW OD IpGpUDWLRQ IUDQoDLVH GH F\FOLVPH &H VSRUW FRQQDvW XQ GpYHORSSHPHQW FRQVLGpUDEOH,OHVWIRQGpVXUODQpJRFLDWLRQGHVREVWDFOHVHWODUpDOLVDWLRQGHILJXUHV WHFKQLTXHV(Q FRPSpWLWLRQOHELFURVVVHSUDWLTXHVXUGHVFKDPSVGHERVVHV(Q© IUHHVW\OH ªOHSUDWLTXDQWSHXWOXL PrPHFUpHUGHVILJXUHVRXGHVHQFKDvQHPHQWV !/H&\FORFURVV ± FHWWHGLVFLSOLQHVHSUDWLTXHHQKLYHUVXUGHVFLUFXLWVFRQVWLWXpVGHFKHPLQVURXWHV VHQWLHUVEXWWHVGHWHUUHHVFDOLHUVSUDLULHVHWF$YHFXQYpORGHURXWHOHVFRQFXUUHQWVV¶DIIURQWHQWVXU GHV FLUFXLWV GH j NP TXL GRLYHQW rWUH URXODQWV PDLV FRPSUHQGUH TXHOTXHV SDVVDJHV REOLJHDQW j GHVFHQGUHGXYpOR/HF\FORFURVVQpFHVVLWHXQHWUqVJUDQGHDGUHVVH !/H7ULDO ± /¶pSUHXYHGHWULDOVHGpURXOHHQ977VXUSOXVLHXUV]RQHVWUDFpHVHQWHUUDLQDFFLGHQWpR O¶DGUHVVHHWO¶pTXLOLEUHVRQWSULYLOpJLpV &LQTW\SHVGHSUDWLTXHV (QVROLWDLUH GHVF\FOLVWHVVRLWSHUVRQQHV 3UDWLTXHSOXW{WVSRUWLYHJRW GHO¶HIIRUWVROLWDLUHHQGHKRUVGHWRXWHFRQWUDLQWH 3RXUXQHSURPHQDGH GHVF\FOLVWHVVRLWSHUVRQQHV 3UDWLTXHVRXYHQWIDPLOLDOHSHXVSRUWLYHDYHFXQVRXFLGHGpFRXYHUWH 3RXUOHVSRUW GHVF\FOLVWHVVRLWSHUVRQQHV 3UDWLTXHVSRUWLYHHWIDPLOLDOH 3RXUVHGpSODFHU GHVF\FOLVWHVVRLWSHUVRQQHV 3UDWLTXHVROLWDLUHHVVHQWLHOOHPHQWSRXUOHVSHWLWVGpSODFHPHQWVXWLOLWDLUHV 3RXUODGpFRXYHUWH GHVF\FOLVWHVVRLWSHUVRQQHV 3UDWLTXHIDPLOLDOHD[pHVXUODGpFRXYHUWH /HYpORHQYLOOH YHUVXQHWURLVLqPH© YRLH ª " x 'HVPHVXUHVG·RUHVHWGpMjPLVHVHQSODFH /HYpORHVWXQYpKLFXOHFRPPHXQDXWUHHWWRXVOHVF\FOLVWHVVHWURXYHQWPrOpVjODFLUFXODWLRQURXWLqUH /HGLIIpUHQWLHOYLWHVVHHQWUHOHYpORHWOHVYpKLFXOHVPRWRULVpVHVWODSULQFLSDOHFDXVHG·DFFLGHQWV /D ))&7 SU{QH © OH SDUWDJH GH OD UXH HW GH OD URXWH ª HW LQWHUYLHQW WDQW DX QLYHDX GHV SUDWLTXDQWV VHQVLELOLVDWLRQ IRUPDWLRQ LQIRUPDWLRQ TXH GHV SRXYRLUV SXEOLFV DPpQDJHPHQWV GH VpFXULWp SRXU DERXWLUjXQHFRKDELWDWLRQVDQVULVTXH'HVPHVXUHVVRQWG¶RUHVHWGpMjSULVHV !/HVDPpQDJHPHQWVF\FODEOHV 'HX[DPpQDJHPHQWVVRQWSRVVLEOHV ODSLVWHF\FODEOHTXLHVWXQHYRLHUpVHUYpHDX[F\FOLVWHV HQ GHKRUV GH OD FKDXVVpH HW OD EDQGHF\FODEOH LQWpJUpH j OD FKDXVVpH HW VLJQDOpH SDU XQ PDUTXDJHDXVRO !/DOLPLWDWLRQGHYLWHVVH &HUWDLQHVYLOOHVRQWFUppGHV© ]RQHV ªRODYLWHVVHHVWOLPLWpHSRXUWRXVOHVYpKLFXOHVj NPK !/HVYRLHVUpVHUYpHV $ODFDPSDJQHODWHQGDQFHHVWDXGpYHORSSHPHQWGH© YRLHVYHUWHV ªUpVHUYpHVDX[PRGHV GHWUDQVSRUWVQRQPRWRULVpVHWQRQSROOXDQWVVpSDUpHVSK\VLTXHPHQWGDQVODSOXSDUWGHVFDV GHODFKDXVVpH 6LFHVDPpQDJHPHQWVIDFLOLWHQWOHGpSODFHPHQWGHVF\FOLVWHVLOVQHSHUPHWWHQWPDOKHXUHXVHPHQWSDV G¶pYLWHUWRXWHVOHVIRUPHVG¶DFFLGHQWV x /HVDWWHQWHVGHVF\FOLVWHVHQPDWLqUHG·DPpQDJHPHQWVG·pTXLSHPHQWVHWGHVHUYLFHV ! 3UqV GH GHV F\FOLVWHV VRXKDLWHQW GHV EDQGHV F\FODEOHV VXU OHV URXWHV HW GHV SLVWHV F\FODEOHVHQYLOOH !VRXKDLWHUDLHQWGHVLWLQpUDLUHVUpVHUYpVDXYpORVXUOHVSHWLWHVURXWHVGHFDPSDJQH !DLPHUDLHQWGHVFLUFXLWV977VXUOHVVHQWLHUVHWFKHPLQV !GHPDQGHQWGHVLWLQpUDLUHVEDOLVpVRXIOpFKpV