Download Panasonic NC-ZF1H coffee maker
Transcript
P2用 2SHUDWLQJ,QVWUXFWLRQV 0RGHG¶HPSORL &RIIHH0DNHU &DIHWLqUH 0RGHO1R ヱㄏㄔㄐㄏㄊチヵㄊㄘㄏチヤㄐハネチロㄕㄅハ :HE6LWH86$ ZZZSDQDVRQLFFRP &DQDGDZZZSDQDVRQLFFD 56%,7 8301 % %-./+0/1 2310143 (+ ,PSRUWDQW6DIHJXDUGV 3DJH 6DIHW\3UHFDXWLRQV ,PSRUWDQW,QIRUPDWLRQ 3DUW1DPHVDQG+DQGOLQJ,QVWUXFWLRQV +RZWR8VH +RZWR&OHDQ 7URXEOHVKRRWLQJ 5HSODFHPHQW3DUW 6SHFLILFDWLRQV :DUUDQW\ 7DEOHGHVPDWLqUHV 3UpFDXWLRQV,PSRUWDQWHV 3DJH &RQVLJQHVGHVpFXULWp ,QIRUPDWLRQLPSRUWDQWH 1RPGHVSLqFHVHWLQVWUXFWLRQVGHPDQLSXODWLRQ 0RGHG¶HPSORL 1HWWR\DJH 'pSDQQDJH 3LqFHGHUHFKDQJH 6SpFLILFDWLRQV *DUDQWLH )UDQoDLV "# $# % &' ()# $ *&& +# $ ,YHXLOOH]SRUWHUXQH DWWHQWLRQWRXWHSDUWLFXOLqUHjODVHFWLRQLQWLWXOpH ³&RQVLJQHVGHVpFXULWp´3DJHa ()# $ && &RQWHQWV (QJOLVK SOHDVHSD\SDUWLFXODU DWWHQWLRQWR³6DIHW\3UHFDXWLRQV´3DJHa ! 1&=) ,03257$176$)(*8$5'6 35e&$87,216,03257$17(6 9,: 6:6 6; e #) $&,)? &&,; 0<=+>+77!"4<%! "4=2 <=4= 8> 1, ?, ,6 ,6 6 .%#6 : /6 :+6:, : @>6 6 6, : <) # ', ? A :,? B> C>6 # :, 03>,:, # 00+66,6 6 ,DE, #66 08> 01%? ? 0.4 6 F? :# 66 0/ 07!4=- =47=4" !%=4+(+"!7!4+! " 8")? & 1&# $ , & :,)?, & $ .##& $& * $ />&:) & #$),# 7$ # $ $ *, @"$& $ &,* &', &f $,$7$ g&h #*G#&,&,&& & A7$ $ &:g $ , $ &, : B7$ g&'& C") $ : ::i 03"hj& $: &, $:ih)& , 00?&# $,: $h &:$,&)G $: ,) &: 08"$)$&&# 012)# 0.>:i#g&&# $F# #& $&: & $ 0/% &' 6$9(7+(6(,16758&7,216 :DUQLQJ 7DPSHU5HVLVWDQW6FUHZ 9; 6G6# ## , ## G#: < : :) # RISK OF FIRE OR ELECTRIC SHOCK DO NOT OPEN WARNING, TO REDUCE THE RISK OF FIRE OR ELECTRIC SHOCK, DO NOT REMOVE COVER (OR BACK) NO USER-SERVICEABLE PARTS INSIDE REPAIR SHOULD BE DONE BY AUTORIZED SERVICE PERSONNEL ONLY $YHUWLVVHPHQW + 7 &&# &: >&: $ :#g&, #& % 4 &: $&; 07&& &: $ #g &&h $, 87 g & *$:: h ,h k&: > %&&$& &&,:& 4$ ,)G4$?,)&&" l 9,6,1'(66(55$%/( +#;7$ & $ # :g$*# #'&& $ &, #'&7$ * $ =& # & AVERTISSEMENT Risque d’incendie ou de choc électrique. Ne pas ouvrir. Avertissement, Pour réduire les risques d’incendie ou de secousses électriques, ne pas de retirer le couvercle extérieur (ou arrière). L’utilisateur ne peut pas remplacer les pièces de l’appareil. L’entretien doit être effectué par du personnel qualifié. )UDQoDLV 2 WARNING &216(59(=&(77(127,&( (QJOLVK + + 6G :# : # 7 :6G ' #: : ' % ! :6G ' ; 0 :6G ' : H 8 : 6 #:6: : # > ) : 6 , ) 6! ,# ! , > 6 3 ,03257$176$)(*8$5'6 35e&$87,216,03257$17(6 9,: 6:6 6; e #) $&,)? &&,; 0<=+>+77!"4<%! "4=2 <=4= 8> 1, ?, ,6 ,6 6 .%#6 : /6 :+6:, : @>6 6 6, : <) # ', ? A :,? B> C>6 # :, 03>,:, # 00+66,6 6 ,DE, #66 08> 01%? ? 0.4 6 F? :# 66 0/ 07!4=- =47=4" !%=4+(+"!7!4+! " 8")? & 1&# $ , & :,)?, & $ .##& $& * $ />&:) & #$),# 7$ # $ $ *, @"$& $ &,* &', &f $,$7$ g&h #*G#&,&,&& & A7$ $ &:g $ , $ &, : B7$ g&'& C") $ : ::i 03"hj& $: &, $:ih)& , 00?&# $,: $h &:$,&)G $: ,) &: 08"$)$&&# 012)# 0.>:i#g&&# $F# #& $&: & $ 0/% &' 6$9(7+(6(,16758&7,216 :DUQLQJ 7DPSHU5HVLVWDQW6FUHZ 9; 6G6# ## , ## G#: < : :) # RISK OF FIRE OR ELECTRIC SHOCK DO NOT OPEN WARNING, TO REDUCE THE RISK OF FIRE OR ELECTRIC SHOCK, DO NOT REMOVE COVER (OR BACK) NO USER-SERVICEABLE PARTS INSIDE REPAIR SHOULD BE DONE BY AUTORIZED SERVICE PERSONNEL ONLY $YHUWLVVHPHQW + 7 &&# &: >&: $ :#g&, #& % 4 &: $&; 07&& &: $ #g &&h $, 87 g & *$:: h ,h k&: > %&&$& &&,:& 4$ ,)G4$?,)&&" l 9,6,1'(66(55$%/( +#;7$ & $ # :g$*# #'&& $ &, #'&7$ * $ =& # & AVERTISSEMENT Risque d’incendie ou de choc électrique. Ne pas ouvrir. Avertissement, Pour réduire les risques d’incendie ou de secousses électriques, ne pas de retirer le couvercle extérieur (ou arrière). L’utilisateur ne peut pas remplacer les pièces de l’appareil. L’entretien doit être effectué par du personnel qualifié. )UDQoDLV 2 WARNING &216(59(=&(77(127,&( (QJOLVK + + 6G :# : # 7 :6G ' #: : ' % ! :6G ' ; 0 :6G ' : H 8 : 6 #:6: : # > ) : 6 , ) 6! ,# ! , > 6 3 6DIHW\3UHFDXWLRQV 3OHDVHPDNHVXUHWR IROORZWKHVHLQVWUXFWLRQV :$51,1* q'RQRWXVHWKHDSSOLDQFHZLWKRXWWKHMXJ !: ! # ?,, ,6 :6 w7KHIROORZLQJFKDUWVLQGLFDWHWKHGHJUHHRIGDPDJHFDXVHGE\ZURQJRSHUDWLRQ :$51,1* ! ? &$87,21 ! ? w7KHV\PEROVDUHFODVVLILHGDQGH[SODLQHGDVIROORZV : : : : 6 :$51,1* q'RQRWGDPDJHWKHSRZHUFRUGRUSRZHUSOXJ 26: ,,: , 6,, # ,#:?, : 6 :6 !, 6 6 q'RQRWXVHWKHDSSOLDQFHLIWKHSRZHUFRUGRUSRZHUSOXJLV GDPDJHGRUWKHSRZHUSOXJLVORRVHO\FRQQHFWHGWRWKHRXWOHW !, «!6 ,: :,# # ) q'RQRWSOXJRUXQSOXJWKHSRZHUSOXJZLWKZHWKDQGV ! +6 : 66 q&OHDQWKHSRZHUSOXJUHJXODUO\ > : G6,6 « 6, 66 q.HHSWKHSRZHUFRUGRXWRIUHDFKRIFKLOGUHQ'RQRWOHWWKHSRZHUFRUGKDQJRYHUWKHHGJHRI WKHWDEOHRUVXUIDFH !:,? 4 q'RQRWWRXFKRUJHW\RXUIDFHFORVHWRSODFHVZKHUHVWHDPLVFRPLQJRXW !:? = q,PPHGLDWHO\GLVFRQWLQXHXVHDQGXQSOXJWKHDSSOLDQFHLQWKHXQOLNHO\HYHQWWKDWLWVWRSVZRUNLQJ SURSHUO\ !,,: =': 6 6 :: 6 6 : ,#: : ? : « # &$87,21 q'RQRWXVHWKHDSSOLDQFHIRUDQ\SXUSRVHRWKHUWKDQWKRVHGHVFULEHGLQWKHVHLQVWUXFWLRQV !:? 6::?,# 6 (QJOLVK q,QVHUWWKHSRZHUSOXJILUPO\ 6 : 6 q'RQRWGLVDVVHPEOHUHSDLURUPRGLI\WKLVDSSOLDQFH !,? « # q$OZD\VNHHSFKLOGUHQDZD\IURPWKHDSSOLDQFH !:? % ) : q'RQRWLPPHUVHWKHDSSOLDQFHLQZDWHURUVSODVKLWZLWKZDWHU !, q0DNHVXUHWKHYROWDJHLQGLFDWHGRQWKHODEHORIWKHDSSOLDQFHLVWKHVDPHDV\RXUORFDOVXSSO\ ! +# ### 6#,:6,6 ' 6 q7KLVDSSOLDQFHLVQRWLQWHQGHGIRUXVHE\SHUVRQVLQFOXGLQJFKLOGUHQZLWKUHGXFHGSK\VLFDO VHQVRU\RUPHQWDOFDSDELOLWLHVRUODFNRIH[SHULHQFHDQGNQRZOHGJHXQOHVVWKH\KDYHEHHQ JLYHQVXSHUYLVLRQRULQVWUXFWLRQFRQFHUQLQJXVHRIWKHDSSOLDQFHE\DSHUVRQUHVSRQVLEOHIRU WKHLUVDIHW\&KLOGUHQVKRXOGEHVXSHUYLVHGWRHQVXUHWKDWWKH\GRQRWSOD\ZLWKWKHDSSOLDQFH !:,? q'RQRWPRYHWKHDSSOLDQFHZKHQWKHMXJLVLQSODFH !: q'RQRWUHPRYHWKHMXJZKLOHEUHZLQJ !: q'RQRWPRYHWKHDSSOLDQFHE\KROGLQJWKHZDWHUWDQNOLGRUEDVNHW !:? q'RQRWXVHWKHDSSOLDQFHLQFOXGLQJWKHMXJRQIROORZLQJSODFHV #,GG: !? 6: 66 ! "6::,, ! "6 ! : #: ! 5 6DIHW\3UHFDXWLRQV 3OHDVHPDNHVXUHWR IROORZWKHVHLQVWUXFWLRQV :$51,1* q'RQRWXVHWKHDSSOLDQFHZLWKRXWWKHMXJ !: ! # ?,, ,6 :6 w7KHIROORZLQJFKDUWVLQGLFDWHWKHGHJUHHRIGDPDJHFDXVHGE\ZURQJRSHUDWLRQ :$51,1* ! ? &$87,21 ! ? w7KHV\PEROVDUHFODVVLILHGDQGH[SODLQHGDVIROORZV : : : : 6 :$51,1* q'RQRWGDPDJHWKHSRZHUFRUGRUSRZHUSOXJ 26: ,,: , 6,, # ,#:?, : 6 :6 !, 6 6 q'RQRWXVHWKHDSSOLDQFHLIWKHSRZHUFRUGRUSRZHUSOXJLV GDPDJHGRUWKHSRZHUSOXJLVORRVHO\FRQQHFWHGWRWKHRXWOHW !, «!6 ,: :,# # ) q'RQRWSOXJRUXQSOXJWKHSRZHUSOXJZLWKZHWKDQGV ! +6 : 66 q&OHDQWKHSRZHUSOXJUHJXODUO\ > : G6,6 « 6, 66 q.HHSWKHSRZHUFRUGRXWRIUHDFKRIFKLOGUHQ'RQRWOHWWKHSRZHUFRUGKDQJRYHUWKHHGJHRI WKHWDEOHRUVXUIDFH !:,? 4 q'RQRWWRXFKRUJHW\RXUIDFHFORVHWRSODFHVZKHUHVWHDPLVFRPLQJRXW !:? = q,PPHGLDWHO\GLVFRQWLQXHXVHDQGXQSOXJWKHDSSOLDQFHLQWKHXQOLNHO\HYHQWWKDWLWVWRSVZRUNLQJ SURSHUO\ !,,: =': 6 6 :: 6 6 : ,#: : ? : « # &$87,21 q'RQRWXVHWKHDSSOLDQFHIRUDQ\SXUSRVHRWKHUWKDQWKRVHGHVFULEHGLQWKHVHLQVWUXFWLRQV !:? 6::?,# 6 (QJOLVK q,QVHUWWKHSRZHUSOXJILUPO\ 6 : 6 q'RQRWGLVDVVHPEOHUHSDLURUPRGLI\WKLVDSSOLDQFH !,? « # q$OZD\VNHHSFKLOGUHQDZD\IURPWKHDSSOLDQFH !:? % ) : q'RQRWLPPHUVHWKHDSSOLDQFHLQZDWHURUVSODVKLWZLWKZDWHU !, q0DNHVXUHWKHYROWDJHLQGLFDWHGRQWKHODEHORIWKHDSSOLDQFHLVWKHVDPHDV\RXUORFDOVXSSO\ ! +# ### 6#,:6,6 ' 6 q7KLVDSSOLDQFHLVQRWLQWHQGHGIRUXVHE\SHUVRQVLQFOXGLQJFKLOGUHQZLWKUHGXFHGSK\VLFDO VHQVRU\RUPHQWDOFDSDELOLWLHVRUODFNRIH[SHULHQFHDQGNQRZOHGJHXQOHVVWKH\KDYHEHHQ JLYHQVXSHUYLVLRQRULQVWUXFWLRQFRQFHUQLQJXVHRIWKHDSSOLDQFHE\DSHUVRQUHVSRQVLEOHIRU WKHLUVDIHW\&KLOGUHQVKRXOGEHVXSHUYLVHGWRHQVXUHWKDWWKH\GRQRWSOD\ZLWKWKHDSSOLDQFH !:,? q'RQRWPRYHWKHDSSOLDQFHZKHQWKHMXJLVLQSODFH !: q'RQRWUHPRYHWKHMXJZKLOHEUHZLQJ !: q'RQRWPRYHWKHDSSOLDQFHE\KROGLQJWKHZDWHUWDQNOLGRUEDVNHW !:? q'RQRWXVHWKHDSSOLDQFHLQFOXGLQJWKHMXJRQIROORZLQJSODFHV #,GG: !? 6: 66 ! "6::,, ! "6 ! : #: ! 5 6DIHW\3UHFDXWLRQV 3OHDVHPDNHVXUHWR IROORZWKHVHLQVWUXFWLRQV 3DUW1DPHVDQG+DQGOLQJ,QVWUXFWLRQV &$87,21 :DWHUWDQNOLG q'RQRWRSHQWKHZDWHUWDQNOLGZKLOHWKHFRIIHHLVEUHZLQJ !: $URPDFRQWURO q'RQRWOHDYHWKHDSSOLDQFHXQDWWHQGHGZKHQLQXVH ! 9#,6 q'RQRWLQVHUWDQ\REMHFWLQWKHJDSV ! =:?6 q'RQRWWRXFKWKHKRWVXUIDFHVXFKDVWKHWRSVXUIDFHRIWKHPDLQERG\ZKLOHDSSOLDQFHLVLQXVH RUDIWHUXVH !: q0DNHVXUHWRKROGWKHSRZHUSOXJZKHQXQSOXJJLQJWKHSRZHUSOXJ 1HYHUSXOORQWKHSRZHUFRUG 6, q$OZD\VHQVXUHWKHDSSOLDQFHLVVZLWFKHGRIIDQGXQSOXJWKHSRZHUSOXJZKHQWKHDSSOLDQFHLV QRWLQXVHEHIRUHPRYLQJDQGEHIRUHFOHDQLQJ 6, q3ODFHWKHDSSOLDQFHRQDILUPGU\FOHDQIODWKHDWSURRIVXUIDFH 6:? q%HZDUHQRWWRWULSRYHUWKHDSSOLDQFHRUJHWFDXJKWLQWKHSRZHUFRUGZKLOHLQXVH 6:? )LOWHUKROGHU :DWHUWDQN q7RGLVDVVHPEOH : :DWHUOHYHO ,QVLGH :DWHUOHYHO ZLQGRZ $QWLGULSYDOYH %DVNHW q7RDVVHPEOH ! : 3RZHU LQGLFDWRU 3RZHUVZLWFK <# % : 3ODWH 6WDLQOHVVVWHHOMXJOLG 3RZHUSOXJ q:KHQKDQGOLQJWKHMXJZLWKKRWFRIIHHLQVLGHGRQRWWLOWRURSHQWKHMXJOLG+RWOLTXLGPD\VSXUW RXWRUGURSRQ\RXUKDQG !: +6 ? q0DNHVXUHWRFOHDQWKHDSSOLDQFHDIWHUHYHU\XVH 6: #6: %HIRUHXVH 6WDLQOHVVVWHHOMXJ %:6:6 6# 6 6 ,PSRUWDQW,QIRUPDWLRQ 9 :0008 >6,6 6 ! >?6# ! ? >?# > 266B 6 (QJOLVK /HYHU 3RZHUFRUG q8QSOXJDQGDOORZWKHDSSOLDQFHWRFRROGRZQIXOO\EHIRUHFOHDQLQJDQGVWRULQJ !: $FFHVVRULHV 4 ? >6 66 96, 66 66? 6 0HVKILOWHU 7HDVHUYHU 0HDVXULQJVSRRQ 01 +0M. # 7 6DIHW\3UHFDXWLRQV 3OHDVHPDNHVXUHWR IROORZWKHVHLQVWUXFWLRQV 3DUW1DPHVDQG+DQGOLQJ,QVWUXFWLRQV &$87,21 :DWHUWDQNOLG q'RQRWRSHQWKHZDWHUWDQNOLGZKLOHWKHFRIIHHLVEUHZLQJ !: $URPDFRQWURO q'RQRWOHDYHWKHDSSOLDQFHXQDWWHQGHGZKHQLQXVH ! 9#,6 q'RQRWLQVHUWDQ\REMHFWLQWKHJDSV ! =:?6 q'RQRWWRXFKWKHKRWVXUIDFHVXFKDVWKHWRSVXUIDFHRIWKHPDLQERG\ZKLOHDSSOLDQFHLVLQXVH RUDIWHUXVH !: q0DNHVXUHWRKROGWKHSRZHUSOXJZKHQXQSOXJJLQJWKHSRZHUSOXJ 1HYHUSXOORQWKHSRZHUFRUG 6, q$OZD\VHQVXUHWKHDSSOLDQFHLVVZLWFKHGRIIDQGXQSOXJWKHSRZHUSOXJZKHQWKHDSSOLDQFHLV QRWLQXVHEHIRUHPRYLQJDQGEHIRUHFOHDQLQJ 6, q3ODFHWKHDSSOLDQFHRQDILUPGU\FOHDQIODWKHDWSURRIVXUIDFH 6:? q%HZDUHQRWWRWULSRYHUWKHDSSOLDQFHRUJHWFDXJKWLQWKHSRZHUFRUGZKLOHLQXVH 6:? )LOWHUKROGHU :DWHUWDQN q7RGLVDVVHPEOH : :DWHUOHYHO ,QVLGH :DWHUOHYHO ZLQGRZ $QWLGULSYDOYH %DVNHW q7RDVVHPEOH ! : 3RZHU LQGLFDWRU 3RZHUVZLWFK <# % : 3ODWH 6WDLQOHVVVWHHOMXJOLG 3RZHUSOXJ q:KHQKDQGOLQJWKHMXJZLWKKRWFRIIHHLQVLGHGRQRWWLOWRURSHQWKHMXJOLG+RWOLTXLGPD\VSXUW RXWRUGURSRQ\RXUKDQG !: +6 ? q0DNHVXUHWRFOHDQWKHDSSOLDQFHDIWHUHYHU\XVH 6: #6: %HIRUHXVH 6WDLQOHVVVWHHOMXJ %:6:6 6# 6 6 ,PSRUWDQW,QIRUPDWLRQ 9 :0008 >6,6 6 ! >?6# ! ? >?# > 266B 6 (QJOLVK /HYHU 3RZHUFRUG q8QSOXJDQGDOORZWKHDSSOLDQFHWRFRROGRZQIXOO\EHIRUHFOHDQLQJDQGVWRULQJ !: $FFHVVRULHV 4 ? >6 66 96, 66 66? 6 0HVKILOWHU 7HDVHUYHU 0HDVXULQJVSRRQ 01 +0M. # 7 +RZWR8VHa%UHZLQJ&RIIHHa ILOWHUMXJDQGDGGJURXQGFRIIHH 3RVLWLRQWKHILOWHUKROGHUPHVK WRWDVWH 6HWWKHDURPDFRQWURODVGHVLUHG 9 6 ,: WKHQSOXJLQDQGWXUQRQWKH )LOOZDWHULQWKHZDWHUWDQN SRZHUVZLWFK RII 5HPRYHWKHMXJDIWHUOLJKWLVWXUQHG WH JK /L 4 U A 'DUNHU 6 66:6 6#? 1RWH % : 7REUHZFRIIHHFRQVHFXWLYHO\ 1RWH: 6 5HSHDWVWHSa 9/ 66 !6 , 3UHKHDWLQJWKHMXJ 9:6 6,?: 6# +?,666 >6# ? 8 . @ B 8 2 % +' . B 00 0. >:6? %6 %,#?6 9?# :6, !,6# ?6:6 9 ?6, ? ! : 9#?,6 2:,6 w$IWHUXVH 5HIHUHQFHIRUDPRXQWRIFRIIHH 6 % 1RWH (QJOLVK >666 + >:666:68 'B > 66:6 96 , #: :KHQ\RXKDYHUHPDLQLQJZDWHULQWKHZDWHUWDQN % +' / A 03 08 q0+'0837.) q : # 7# '6 ?,66 9 +RZWR8VHa%UHZLQJ&RIIHHa ILOWHUMXJDQGDGGJURXQGFRIIHH 3RVLWLRQWKHILOWHUKROGHUPHVK WRWDVWH 6HWWKHDURPDFRQWURODVGHVLUHG 9 6 ,: WKHQSOXJLQDQGWXUQRQWKH )LOOZDWHULQWKHZDWHUWDQN SRZHUVZLWFK RII 5HPRYHWKHMXJDIWHUOLJKWLVWXUQHG WH JK /L 4 U A 'DUNHU 6 66:6 6#? 1RWH % : 7REUHZFRIIHHFRQVHFXWLYHO\ 1RWH: 6 5HSHDWVWHSa 9/ 66 !6 , 3UHKHDWLQJWKHMXJ 9:6 6,?: 6# +?,666 >6# ? 8 . @ B 8 2 % +' . B 00 0. >:6? %6 %,#?6 9?# :6, !,6# ?6:6 9 ?6, ? ! : 9#?,6 2:,6 w$IWHUXVH 5HIHUHQFHIRUDPRXQWRIFRIIHH 6 % 1RWH (QJOLVK >666 + >:666:68 'B > 66:6 96 , #: :KHQ\RXKDYHUHPDLQLQJZDWHULQWKHZDWHUWDQN % +' / A 03 08 q0+'0837.) q : # 7# '6 ?,66 9 +RZWR8VHa%UHZLQJ7HDa +RZWR&OHDQ w%# w 6: %UHZLQJWHDZLWKWHDVHUYHU q:6BGC ?#6 9 :6 1RWH 4> >:),,,:,6 ,::,6 6: > 6 >6 :? ?6 >? 0HVKILOWHU 'DUNH U 9 6 >:, !# # 0M. , # (QJOLVK %RG\3ODWH 966G6 )LOWHUKROGHU # : >6 :?:6 96 $QWLGULSYDOYH !# : 6 ## 81 10 $QWLGULSYDOYH 11 +RZWR8VHa%UHZLQJ7HDa +RZWR&OHDQ w%# w 6: %UHZLQJWHDZLWKWHDVHUYHU q:6BGC ?#6 9 :6 1RWH 4> >:),,,:,6 ,::,6 6: > 6 >6 :? ?6 >? 0HVKILOWHU 'DUNH U 9 6 >:, !# # 0M. , # (QJOLVK %RG\3ODWH 966G6 )LOWHUKROGHU # : >6 :?:6 96 $QWLGULSYDOYH !# : 6 ## 81 10 $QWLGULSYDOYH 11 +RZWR&OHDQ 6WDLQOHVVVWHHOMXJ 96 7URXEOHVKRRWLQJ &OHDQWKHZDWHUWDQNZLWKFLWULFDFLG ZKHQEUHZLQJLVVORZ :6 66 6 6 6 4: G66 6 6:# 3UREOHP q' «> ' B q «< q2 : 6 « 6 6 q4:6 6 «%66 08 6 6 q?:66, ::6B % q: « 4: ? 6WDLQOHVVVWHHOMXJOLG < 6> 6 :# 266 6B '83JF3A0)8: '66 6 &DXVH 7RUHPRYHWKHMXJOLG 5HSODFHPHQW3DUW ? 6 96, 66 66? 7RDWWDFKWKHMXJOLG 6 3DUWQXPEHU +%+.1G0/1G3 (QJOLVK 66 3DUWQDPH 6SHFLILFDWLRQV "%G-20 7 ? 66 <0.66# 6 6 '6 >9M>M' 7HDVHUYHU0HDVXULQJVSRRQ ' 76 ' 083( @3) C339 007F1A.)B 8C1M0A8M1.@00/M@BM01@ B.J0B/: 3C1/ 96 12 13 +RZWR&OHDQ 6WDLQOHVVVWHHOMXJ 96 7URXEOHVKRRWLQJ &OHDQWKHZDWHUWDQNZLWKFLWULFDFLG ZKHQEUHZLQJLVVORZ :6 66 6 6 6 4: G66 6 6:# 3UREOHP q' «> ' B q «< q2 : 6 « 6 6 q4:6 6 «%66 08 6 6 q?:66, ::6B % q: « 4: ? 6WDLQOHVVVWHHOMXJOLG < 6> 6 :# 266 6B '83JF3A0)8: '66 6 &DXVH 7RUHPRYHWKHMXJOLG 5HSODFHPHQW3DUW ? 6 96, 66 66? 7RDWWDFKWKHMXJOLG 6 3DUWQXPEHU +%+.1G0/1G3 (QJOLVK 66 3DUWQDPH 6SHFLILFDWLRQV "%G-20 7 ? 66 <0.66# 6 6 '6 >9M>M' 7HDVHUYHU0HDVXULQJVSRRQ ' 76 ' 083( @3) C339 007F1A.)B 8C1M0A8M1.@00/M@BM01@ B.J0B/: 3C1/ 96 12 13 &RQVLJQHVGHVpFXULWp 9HXLOOH]YRXVDVVXUHUGH VXLYUHFHVLQVWUXFWLRQV + $g &, h$ $, #)#G w/HVGLDJUDPPHVVXLYDQWVLQGLTXHQWOHGHJUpGHGRPPDJHVSURYRTXpSDUXQHXWLOLVDWLRQLQFRUUHFWH $9(57,66(0(17 ! & : $77(17,21 ! : & w/HVV\PEROHVVRQWFODVVLILpVHWH[SOLTXpVFRPPHVXLW %: %: &: h# $9(57,66(0(17 q1¶HQGRPPDJH]SDVOHFRUGRQG¶DOLPHQWDWLRQRXODSULVH 7# $,#, h'& &,, ,, : , :? , : &$ $ % &&, ih G % $ q1HEUDQFKH]SDVRXQHGpEUDQFKH]SDVODSULVHDYHFOHVPDLQVKXPLGHV % && ()h#*# $ q9pULILH]TXHODWHQVLRQpOHFWULTXHLQGLTXpHVXUO¶pWLTXHWWHGHO¶DSSDUHLOHVWVLPLODLUHjFHOOHGH YRWUHVRXUFHG¶DOLPHQWDWLRQORFDOH % && #)& : $ g: $g & ,#:),#&)9$'* 9 & q,QVpUH]ODSULVHIHUPHPHQW 4,# & ih: $g &&& q&RQVHUYH]OHFRUGRQG¶DOLPHQWDWLRQKRUVGHODSRUWpHGHVHQIDQWV1HODLVVH]SDVSHQGUHOH FRUGRQG¶DOLPHQWDWLRQVXUOHERUGGHODWDEOHRXGXSODQGHWUDYDLO %:i,: && 14 q1¶XWLOLVH]SDVO¶DSSDUHLOVDQVODFDUDIH %:i q&HWDSSDUHLOQ¶HVWSDVSUpYXSRXUrWUHXWLOLVpSDUGHVSHUVRQQHV\FRPSULVOHVHQIDQWVGRQW OHVFDSDFLWpVSK\VLTXHVVHQVRULHOOHVRXPHQWDOHVVRQWUpGXLWHVRXGHVSHUVRQQHVGpQXpHV G¶H[SpULHQFHRXGHFRQQDLVVDQFHVDXIVLHOOHVRQWSXEpQpILFLHUSDUO¶LQWHUPpGLDLUHG¶XQH SHUVRQQHUHVSRQVDEOHGHOHXUVpFXULWpG¶XQHVXUYHLOODQFHRXG¶LQVWUXFWLRQVSUpDODEOHV FRQFHUQDQWO¶XWLOLVDWLRQGHO¶DSSDUHLO,OFRQYLHQWGHVXUYHLOOHUOHVHQIDQWVSRXUV¶DVVXUHUTX¶LOVQH MRXHQWSDVDYHFO¶DSSDUHLO %:i,: && q$UUrWHUO¶DSSDUHLOLPPpGLDWHPHQWHWGpEUDQFKH]OHGDQVOHFDVLPSUREDEOHTXHO¶DSSDUHLOFHVVH GHIRQFWLRQQHUFRUUHFWHPHQW % &, &&, :i ' $ 7 $ # 7 $ & % $ &&,&&#: & 7& & & «() &:$& # #*G# j& $77(17,21 q1¶LPPHUJH]SDVO¶DSSDUHLOGDQVO¶HDXRXQHO¶pFODERXVVH]SDVDYHFGHO¶HDX % &&, ihG q1¶XWLOLVH]SDVO¶DSSDUHLOGDQVXQDXWUHEXWTXHFHOXLGpFULWGDQVFHVFRQVLJQHVGHVpFXULWp %:i: :$$:? $ $h && q1HGpSODFH]SDVO¶DSSDUHLOORUVTXHODFDUDIHHVWHQSODFH %:i q1HUHWLUH]SDVODFDUDIHSHQGDQWODSUpSDUDWLRQGXFDIp %:i q1¶DJULSSH]SDVO¶DSSDUHLOSDUOHFRXYHUFOHGXUpVHUYRLUG¶HDXRXSDUOHSDQLHUHWQHOHGpSODFH] SDVGHFHWWHPDQLqUH %:i: q1¶XWLOLVH]SDVO¶DSSDUHLOFDUDIHFRPSULVHDX[HQGURLWVVXLYDQWV > k&,&h, %# : > kg& $h'& $ %#&& '& $:, $#:,k$ $ %#&& '& $ $: % & & > : $g & && % & & )UDQoDLV q1HWWR\H]UpJXOLqUHPHQWODSULVH 7$ * $ & : # «> &:))G# q1HSDVGpPRQWHUUpSDUHURXPRGLILHUFHWDSSDUHLO % , && : « &,#)# #*G# q1HWRXFKH]SDVRXQ¶DSSURFKH]SDVYRWUHYLVDJHGHVHQGURLWVRODYDSHXUV¶pFKDSSH %: %#):$ & q&RQVHUYH]WRXMRXUVO¶DSSDUHLOKRUVGHODSRUWpHGHVHQIDQWV %:i: 7& : ,h q1¶XWLOLVH]SDVO¶DSSDUHLOVLOHFRUGRQG¶DOLPHQWDWLRQRXODSULVHHVWHQGRPPDJpHRXVLODSULVH Q¶HVWSDVFRUUHFWHPHQWEUDQFKpHDXEORFVHFWHXU % &&, ihG «4 $ &, g&:,#* # $&# $9(57,66(0(17 15 &RQVLJQHVGHVpFXULWp 9HXLOOH]YRXVDVVXUHUGH VXLYUHFHVLQVWUXFWLRQV + $g &, h$ $, #)#G w/HVGLDJUDPPHVVXLYDQWVLQGLTXHQWOHGHJUpGHGRPPDJHVSURYRTXpSDUXQHXWLOLVDWLRQLQFRUUHFWH $9(57,66(0(17 ! & : $77(17,21 ! : & w/HVV\PEROHVVRQWFODVVLILpVHWH[SOLTXpVFRPPHVXLW %: %: &: h# $9(57,66(0(17 q1¶HQGRPPDJH]SDVOHFRUGRQG¶DOLPHQWDWLRQRXODSULVH 7# $,#, h'& &,, ,, : , :? , : &$ $ % &&, ih G % $ q1HEUDQFKH]SDVRXQHGpEUDQFKH]SDVODSULVHDYHFOHVPDLQVKXPLGHV % && ()h#*# $ q9pULILH]TXHODWHQVLRQpOHFWULTXHLQGLTXpHVXUO¶pWLTXHWWHGHO¶DSSDUHLOHVWVLPLODLUHjFHOOHGH YRWUHVRXUFHG¶DOLPHQWDWLRQORFDOH % && #)& : $ g: $g & ,#:),#&)9$'* 9 & q,QVpUH]ODSULVHIHUPHPHQW 4,# & ih: $g &&& q&RQVHUYH]OHFRUGRQG¶DOLPHQWDWLRQKRUVGHODSRUWpHGHVHQIDQWV1HODLVVH]SDVSHQGUHOH FRUGRQG¶DOLPHQWDWLRQVXUOHERUGGHODWDEOHRXGXSODQGHWUDYDLO %:i,: && 14 q1¶XWLOLVH]SDVO¶DSSDUHLOVDQVODFDUDIH %:i q&HWDSSDUHLOQ¶HVWSDVSUpYXSRXUrWUHXWLOLVpSDUGHVSHUVRQQHV\FRPSULVOHVHQIDQWVGRQW OHVFDSDFLWpVSK\VLTXHVVHQVRULHOOHVRXPHQWDOHVVRQWUpGXLWHVRXGHVSHUVRQQHVGpQXpHV G¶H[SpULHQFHRXGHFRQQDLVVDQFHVDXIVLHOOHVRQWSXEpQpILFLHUSDUO¶LQWHUPpGLDLUHG¶XQH SHUVRQQHUHVSRQVDEOHGHOHXUVpFXULWpG¶XQHVXUYHLOODQFHRXG¶LQVWUXFWLRQVSUpDODEOHV FRQFHUQDQWO¶XWLOLVDWLRQGHO¶DSSDUHLO,OFRQYLHQWGHVXUYHLOOHUOHVHQIDQWVSRXUV¶DVVXUHUTX¶LOVQH MRXHQWSDVDYHFO¶DSSDUHLO %:i,: && q$UUrWHUO¶DSSDUHLOLPPpGLDWHPHQWHWGpEUDQFKH]OHGDQVOHFDVLPSUREDEOHTXHO¶DSSDUHLOFHVVH GHIRQFWLRQQHUFRUUHFWHPHQW % &, &&, :i ' $ 7 $ # 7 $ & % $ &&,&&#: & 7& & & «() &:$& # #*G# j& $77(17,21 q1¶LPPHUJH]SDVO¶DSSDUHLOGDQVO¶HDXRXQHO¶pFODERXVVH]SDVDYHFGHO¶HDX % &&, ihG q1¶XWLOLVH]SDVO¶DSSDUHLOGDQVXQDXWUHEXWTXHFHOXLGpFULWGDQVFHVFRQVLJQHVGHVpFXULWp %:i: :$$:? $ $h && q1HGpSODFH]SDVO¶DSSDUHLOORUVTXHODFDUDIHHVWHQSODFH %:i q1HUHWLUH]SDVODFDUDIHSHQGDQWODSUpSDUDWLRQGXFDIp %:i q1¶DJULSSH]SDVO¶DSSDUHLOSDUOHFRXYHUFOHGXUpVHUYRLUG¶HDXRXSDUOHSDQLHUHWQHOHGpSODFH] SDVGHFHWWHPDQLqUH %:i: q1¶XWLOLVH]SDVO¶DSSDUHLOFDUDIHFRPSULVHDX[HQGURLWVVXLYDQWV > k&,&h, %# : > kg& $h'& $ %#&& '& $:, $#:,k$ $ %#&& '& $ $: % & & > : $g & && % & & )UDQoDLV q1HWWR\H]UpJXOLqUHPHQWODSULVH 7$ * $ & : # «> &:))G# q1HSDVGpPRQWHUUpSDUHURXPRGLILHUFHWDSSDUHLO % , && : « &,#)# #*G# q1HWRXFKH]SDVRXQ¶DSSURFKH]SDVYRWUHYLVDJHGHVHQGURLWVRODYDSHXUV¶pFKDSSH %: %#):$ & q&RQVHUYH]WRXMRXUVO¶DSSDUHLOKRUVGHODSRUWpHGHVHQIDQWV %:i: 7& : ,h q1¶XWLOLVH]SDVO¶DSSDUHLOVLOHFRUGRQG¶DOLPHQWDWLRQRXODSULVHHVWHQGRPPDJpHRXVLODSULVH Q¶HVWSDVFRUUHFWHPHQWEUDQFKpHDXEORFVHFWHXU % &&, ihG «4 $ &, g&:,#* # $&# $9(57,66(0(17 15 &RQVLJQHVGHVpFXULWp 9HXLOOH]YRXVDVVXUHUGH VXLYUHFHVLQVWUXFWLRQV $77(17,21 1RPGHVSLqFHVHWLQVWUXFWLRQVGHPDQLSXODWLRQ &RXYHUFOHGXUpVHUYRLUG¶HDX q1¶RXYUH]SDVOHFRXYHUFOHGXUpVHUYRLUG¶HDXORUVTXHOHFDIpHVWHQFRXUVGHSUpSDUDWLRQ %:i 3RUWHILOWUH 5pVHUYRLUG¶HDX &RQWU{OHGHVDU{PHV q1HODLVVH]SDVO¶DSSDUHLOVDQVVXUYHLOODQFHHQFRXUVGHIRQFWLRQQHPHQW %# 4$&g&# q3RXUGpPRQWHUO¶DSSDUHLO q1¶LQVpUH]DXFXQREMHWGDQVOHVIHQWHV % && =:?&, & 1LYHDXG¶HDX )DFHLQWHUQH q1HWRXFKH]SDVODVXUIDFHFKDXGHFRPPHODSDUWLHVXSpULHXUHGXFRUSVGHO¶DSSDUHLODORUVTXH FHOXLFLHVWHQFRXUVG¶XVDJHRXDSUqVVRQXWLOLVDWLRQ %:i q$VVXUH]YRXVGHWHQLUODSULVHHQODGpEUDQFKDQW 1HWLUH]MDPDLVVXUOHFRUGRQG¶DOLPHQWDWLRQ + && ihG q3RVHUO¶DSSDUHLOVXUXQSODQGHWUDYDLOSODWVWDEOHSURSUHHWUpVLVWDQWjODFKDOHXU 4# :i : !&)G 9R\DQWGH IRQFWLRQQHPHQW 0DQHWWH 3ULVH q1HWWR\H]O¶DSSDUHLODSUqVFKDTXHXWLOLVDWLRQ 4,# :i h &: h G 2) +)G# $: & &RXYHUFOHGHODFDUDIH HQDFLHULQR[\GDEOH &RUGRQ G¶DOLPHQWDWLRQ q/RUVTXHYRXVPDQLSXOH]ODFDUDIHTXLFRQWLHQWGXFDIpFKDXGQ¶LQFOLQH]SDVRXQ¶RXYUH]SDVOH FRXYHUFOHGHODFDUDIH'XOLTXLGHFKDXGSRXUUDLWV¶HQpFKDSSHURXFRXOHUVXUYRWUHPDLQ %:i )?& $YDQWO¶XWLOLVDWLRQ ")$#* $$&&& ,#& & G &DUDIHHQDFLHULQR[\GDEOH $FFHVVRLUHV ")* &: 8088 )G "$?)& <)&# $?$h B)# )$)$ 7&# $# ,) $ ?)$ & )LOWUHjWDPLV 7KpLqUH 'RVHXU h81 (#)& 0M.# h h )UDQoDLV 16 3DQLHU 9DOYH DQWLJRXWWHV ,QWHUUXSWHXU q'pEUDQFKH]O¶DSSDUHLOHWODLVVH]OHUHIURLGLUFRPSOqWHPHQWDYDQWGHOHQHWWR\HUHWGHOHUDQJHU %:i ")&# $ , $ ,"$) $ %# $ ") G % "$) $ "$)$h$'& )HQrWUH G¶LQGLFDWLRQGX QLYHDXG¶HDX 3ODTXH q)DLWHVDWWHQWLRQjQHSDVWUpEXFKHURXjQHSDVYRXVHPPrOHUGDQVOHFRUGRQG¶DOLPHQWDWLRQ ORUVTXHO¶DSSDUHLOHVWHQFRXUVGHIRQFWLRQQHPHQW 4# :i : ,QIRUPDWLRQLPSRUWDQWH <)G q3RXUDVVHPEOHUO¶DSSDUHLO qeWHLJQH]O¶DSSDUHLOHWUHWLUH]WRXMRXUVODSULVHORUVTX¶LOQHIRQFWLRQQHSDVHWDYDQWGHOHGpSODFHU RXGHOHQHWWR\HU + && ih& ) #$'& 17 &RQVLJQHVGHVpFXULWp 9HXLOOH]YRXVDVVXUHUGH VXLYUHFHVLQVWUXFWLRQV $77(17,21 1RPGHVSLqFHVHWLQVWUXFWLRQVGHPDQLSXODWLRQ &RXYHUFOHGXUpVHUYRLUG¶HDX q1¶RXYUH]SDVOHFRXYHUFOHGXUpVHUYRLUG¶HDXORUVTXHOHFDIpHVWHQFRXUVGHSUpSDUDWLRQ %:i 3RUWHILOWUH 5pVHUYRLUG¶HDX &RQWU{OHGHVDU{PHV q1HODLVVH]SDVO¶DSSDUHLOVDQVVXUYHLOODQFHHQFRXUVGHIRQFWLRQQHPHQW %# 4$&g&# q3RXUGpPRQWHUO¶DSSDUHLO q1¶LQVpUH]DXFXQREMHWGDQVOHVIHQWHV % && =:?&, & 1LYHDXG¶HDX )DFHLQWHUQH q1HWRXFKH]SDVODVXUIDFHFKDXGHFRPPHODSDUWLHVXSpULHXUHGXFRUSVGHO¶DSSDUHLODORUVTXH FHOXLFLHVWHQFRXUVG¶XVDJHRXDSUqVVRQXWLOLVDWLRQ %:i q$VVXUH]YRXVGHWHQLUODSULVHHQODGpEUDQFKDQW 1HWLUH]MDPDLVVXUOHFRUGRQG¶DOLPHQWDWLRQ + && ihG q3RVHUO¶DSSDUHLOVXUXQSODQGHWUDYDLOSODWVWDEOHSURSUHHWUpVLVWDQWjODFKDOHXU 4# :i : !&)G 9R\DQWGH IRQFWLRQQHPHQW 0DQHWWH 3ULVH q1HWWR\H]O¶DSSDUHLODSUqVFKDTXHXWLOLVDWLRQ 4,# :i h &: h G 2) +)G# $: & &RXYHUFOHGHODFDUDIH HQDFLHULQR[\GDEOH &RUGRQ G¶DOLPHQWDWLRQ q/RUVTXHYRXVPDQLSXOH]ODFDUDIHTXLFRQWLHQWGXFDIpFKDXGQ¶LQFOLQH]SDVRXQ¶RXYUH]SDVOH FRXYHUFOHGHODFDUDIH'XOLTXLGHFKDXGSRXUUDLWV¶HQpFKDSSHURXFRXOHUVXUYRWUHPDLQ %:i )?& $YDQWO¶XWLOLVDWLRQ ")$#* $$&&& ,#& & G &DUDIHHQDFLHULQR[\GDEOH $FFHVVRLUHV ")* &: 8088 )G "$?)& <)&# $?$h B)# )$)$ 7&# $# ,) $ ?)$ & )LOWUHjWDPLV 7KpLqUH 'RVHXU h81 (#)& 0M.# h h )UDQoDLV 16 3DQLHU 9DOYH DQWLJRXWWHV ,QWHUUXSWHXU q'pEUDQFKH]O¶DSSDUHLOHWODLVVH]OHUHIURLGLUFRPSOqWHPHQWDYDQWGHOHQHWWR\HUHWGHOHUDQJHU %:i ")&# $ , $ ,"$) $ %# $ ") G % "$) $ "$)$h$'& )HQrWUH G¶LQGLFDWLRQGX QLYHDXG¶HDX 3ODTXH q)DLWHVDWWHQWLRQjQHSDVWUpEXFKHURXjQHSDVYRXVHPPrOHUGDQVOHFRUGRQG¶DOLPHQWDWLRQ ORUVTXHO¶DSSDUHLOHVWHQFRXUVGHIRQFWLRQQHPHQW 4# :i : ,QIRUPDWLRQLPSRUWDQWH <)G q3RXUDVVHPEOHUO¶DSSDUHLO qeWHLJQH]O¶DSSDUHLOHWUHWLUH]WRXMRXUVODSULVHORUVTX¶LOQHIRQFWLRQQHSDVHWDYDQWGHOHGpSODFHU RXGHOHQHWWR\HU + && ih& ) #$'& 17 0RGHG¶HPSORLa3UpSDUDWLRQGXFDIpa WDPLVODFDUDIHHWDMRXWH]OHFDIp 3ODFH]OHSRUWHILOWUHOHILOWUHj PRXOXVHORQYRWUHJRW FRPPHVRXKDLWp 5pJOH]ODFRPPDQGHG¶DU{PH G¶HDXSXLVEUDQFKH] 5HPSOLVVH]OHUpVHUYRLU O¶DSSDUHLOHWSODFH] YR\DQWGHIRQFWLRQQHPHQWOXPLQHX[ 5HWLUH]ODFDUDIHXQHIRLVTXHOH V¶HVWpWHLQW O¶LQWHUUXSWHXUVXU2Q 7$ &# h: () LU OD F XV 3O ) G 0A 3OXVIRQFp 7# $ & &,$& +:)## #& 5HPDUTXH ")&# $ & #$ & "&) && $ &h 8 &h B' "?) $ & & 7 $&&?&,# )G 2) 5HPDUTXH()h: 3UpFKDXIIDJHGHODFDUDIH 7#&)& &&::, &)# $ :&& +*#&&,?)$ "$) $&) G & %&&& 8 . @ B 18 %& # . B 00 0. %& q0=#0837.) q&h$ # / A ) & 03 08 3RXUSUpSDUHUGXFDIpGHPDQLqUHFRQVpFXWLYH 5pSpWH]OHVpWDSHVa + )/# $? $ &# $ 4 $?&j, # $& 5HPDUTXH ") & 7&$& 7& ,) >& # 7&?*& &,G$&>,* & &#) # $# 7#) & ,$#)# > $&# %:i ,)G& &i',&#) w$SUqVXWLOLVDWLRQGHO¶DSSDUHLO >&:)**$#& /RUVTX¶LOUHVWHGHO¶HDXGDQVOHUpVHUYRLUG¶HDX )*#)$ ,?)G )UDQoDLV 5pIpUHQFHSRXUODTXDQWLWpGHFDIp 19 0RGHG¶HPSORLa3UpSDUDWLRQGXFDIpa WDPLVODFDUDIHHWDMRXWH]OHFDIp 3ODFH]OHSRUWHILOWUHOHILOWUHj PRXOXVHORQYRWUHJRW FRPPHVRXKDLWp 5pJOH]ODFRPPDQGHG¶DU{PH G¶HDXSXLVEUDQFKH] 5HPSOLVVH]OHUpVHUYRLU O¶DSSDUHLOHWSODFH] YR\DQWGHIRQFWLRQQHPHQWOXPLQHX[ 5HWLUH]ODFDUDIHXQHIRLVTXHOH V¶HVWpWHLQW O¶LQWHUUXSWHXUVXU2Q 7$ &# h: () LU OD F XV 3O ) G 0A 3OXVIRQFp 7# $ & &,$& +:)## #& 5HPDUTXH ")&# $ & #$ & "&) && $ &h 8 &h B' "?) $ & & 7 $&&?&,# )G 2) 5HPDUTXH()h: 3UpFKDXIIDJHGHODFDUDIH 7#&)& &&::, &)# $ :&& +*#&&,?)$ "$) $&) G & %&&& 8 . @ B 18 %& # . B 00 0. %& q0=#0837.) q&h$ # / A ) & 03 08 3RXUSUpSDUHUGXFDIpGHPDQLqUHFRQVpFXWLYH 5pSpWH]OHVpWDSHVa + )/# $? $ &# $ 4 $?&j, # $& 5HPDUTXH ") & 7&$& 7& ,) >& # 7&?*& &,G$&>,* & &#) # $# 7#) & ,$#)# > $&# %:i ,)G& &i',&#) w$SUqVXWLOLVDWLRQGHO¶DSSDUHLO >&:)**$#& /RUVTX¶LOUHVWHGHO¶HDXGDQVOHUpVHUYRLUG¶HDX )*#)$ ,?)G )UDQoDLV 5pIpUHQFHSRXUODTXDQWLWpGHFDIp 19 0RGHG¶HPSORLa3UpSDUDWLRQGXWKpa 1HWWR\DJH w")$* w>&:)$)G#* # 3UpSDUDWLRQGXWKpDYHFODWKpLqUH q7& : h & & 0BG0C ()?& &#i 7& $ g & & 5HPDUTXH <&)j $2& "$) $ &&:, , , $ ?#, :& :,#) $ $ "$)#G# ")$#:?,$G & )# "$)&:&&& )LOWUHjWDPLV 3OXVIRQFp 7#h$ " :, #h# h& % &$ #h# )&*0M. G,?) & &RUSVGHO¶DSSDUHLO3ODTXH =)#:& 3RUWHILOWUH &# $ $ ")# :? )#h& 7#)G# h# & & )UDQoDLV 9DOYHDQWLJRXWWHV % $&# () $ G 4#)G##G )G 81 20 9DOYHDQWLJRXWWHV 21 0RGHG¶HPSORLa3UpSDUDWLRQGXWKpa 1HWWR\DJH w")$* w>&:)$)G#* # 3UpSDUDWLRQGXWKpDYHFODWKpLqUH q7& : h & & 0BG0C ()?& &#i 7& $ g & & 5HPDUTXH <&)j $2& "$) $ &&:, , , $ ?#, :& :,#) $ $ "$)#G# ")$#:?,$G & )# "$)&:&&& )LOWUHjWDPLV 3OXVIRQFp 7#h$ " :, #h# h& % &$ #h# )&*0M. G,?) & &RUSVGHO¶DSSDUHLO3ODTXH =)#:& 3RUWHILOWUH &# $ $ ")# :? )#h& 7#)G# h# & & )UDQoDLV 9DOYHDQWLJRXWWHV % $&# () $ G 4#)G##G )G 81 20 9DOYHDQWLJRXWWHV 21 1HWWR\DJH &DUDIHHQDFLHULQR[\GDEOH 7#)G# h# & & 'pSDQQDJH 1HWWR\H]OHUpVHUYRLUG¶HDXDYHFGHO¶DFLGH FLWULTXHVLODSUpSDUDWLRQGXFDIpHVWOHQWH 7# & & &', $ *h $&# $ 7$ &k$ &' ) &RXYHUFOHGHODFDUDIHHQDFLHULQR[\GDEOH <)#$#)$& h$&$,$'*$#& <)&# $?$h B?)#83JF3,A0) 8*h& $ &):#:f) # ()j## #*G# 3UREOqPH &DXVH 7& &: h q& &&'&& ?& «"$?)& &&h &0B q7h && «<)h) q>&&&&#h «)& 7# & & $& q>$& $ &# $ «")&# $# $ 88 7& & & : q&)? $ # &&0B 4 & q7h&&&# & «=) $ h 3RXUUHWLUHUOHFRXYHUFOHGHODFDUDIH 3LqFHGHUHFKDQJH )# *, $ 1RPGHODSLqFH 5pIpUHQFHGHODSLqFH 2h +%+.1G0/1G3 )$)$ 3RXUIL[HUOHFRXYHUFOHGHODFDUDIH +))# * # 7&# $# ,) $ ?)$ 6SpFLILFDWLRQV & "%G-20 +& <&&)&0.# $#$ $ %& e&' $ # 7KpLqUH'RVHXU 7 $# @3) C339 0,07F1A,.)B 8C1M0A8M1.@00,/M@,BM01,@ B,.J0B,/: 3,C1/ )UDQoDLV >7MM# 083( 7#)G# h# & & 22 23 1HWWR\DJH &DUDIHHQDFLHULQR[\GDEOH 7#)G# h# & & 'pSDQQDJH 1HWWR\H]OHUpVHUYRLUG¶HDXDYHFGHO¶DFLGH FLWULTXHVLODSUpSDUDWLRQGXFDIpHVWOHQWH 7# & & &', $ *h $&# $ 7$ &k$ &' ) &RXYHUFOHGHODFDUDIHHQDFLHULQR[\GDEOH <)#$#)$& h$&$,$'*$#& <)&# $?$h B?)#83JF3,A0) 8*h& $ &):#:f) # ()j## #*G# 3UREOqPH &DXVH 7& &: h q& &&'&& ?& «"$?)& &&h &0B q7h && «<)h) q>&&&&#h «)& 7# & & $& q>$& $ &# $ «")&# $# $ 88 7& & & : q&)? $ # &&0B 4 & q7h&&&# & «=) $ h 3RXUUHWLUHUOHFRXYHUFOHGHODFDUDIH 3LqFHGHUHFKDQJH )# *, $ 1RPGHODSLqFH 5pIpUHQFHGHODSLqFH 2h +%+.1G0/1G3 )$)$ 3RXUIL[HUOHFRXYHUFOHGHODFDUDIH +))# * # 7&# $# ,) $ ?)$ 6SpFLILFDWLRQV & "%G-20 +& <&&)&0.# $#$ $ %& e&' $ # 7KpLqUH'RVHXU 7 $# @3) C339 0,07F1A,.)B 8C1M0A8M1.@00,/M@,BM01,@ B,.J0B,/: 3,C1/ )UDQoDLV >7MM# 083( 7#)G# h# & & 22 23 3DQDVRQLF&DQDGD,QF /LPLWHG:DUUDQW\21/<)2586$$1'38(5725,&2 /AA3+:>#,, 7.981 3DQDVRQLF&RQVXPHU0DUNHWLQJ&RPSDQ\RI1RUWK$PHULFD 'LYLVLRQRI3DQDVRQLF&RUSRUDWLRQRI1RUWK$PHULFD 9,4,"63A3C. 3$1$621,&352'8&7±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³/,0,7(':$55$17<&29(5$*(´ 7+( :$55$1725 ,6 127 /,$%/( )25 ,1&,'(17$/ 25 &216(48(17,$/'$0$*(65(68/7,1*)5207+(86( 2)7+,6352'8&725$5,6,1*2872)$1<%5($&+2) 7+,6:$55$17< +',' ,# #, , '#,: 24 ,+ ! :#9:4 ;;FF666 , :=G ; ; 0GB33G118G/1@B0GB33G81AGC3B32' G2 CGC=4 3DQDVRQLF1DWLRQDO3DUWV&HQWHU WK$YHQXH6RXWK .HQW:$ 9(,% ,>#% ,+ =' )RUKHDULQJRUVSHHFKLPSDLUHG77<XVHUV 77< $VRI'HF % ! 6 : 6 :6 , 66: ,:66: ## , , 6: :% ! =<% 0 = 0 + 0 =2< 0 # 0 %,, 0 6#,66 , : :# : ) % % ,6 6 DE, 6 6 # 6 ,125'(572%((/,*,%/(725(&(,9(:$55$17<6(59,&(+(5(81'(5$385&+$6(5(&(,3725 27+(53522)2)'$7(2)25,*,1$/385&+$6(6+2:,1*$028173$,'$1'3/$&(2)385&+$6( ,65(48,5(' /,0,7$7,216$1'(;&/86,216 6 "7% (=<4 6, > =4" % (=< 6 6+74 > =4" % (=< 6 , 6 : :% !,6 , ,:,, ,,,,G ?, ? ,,6, , , , ,,,,: , #:+) 4#, :: !4 =<=44, 7!!=> 9+<<+" !4 !" 7!= 2 +77 =< 9+<<+"!=4, =<=44 < !7!=>, !"%7>!" +" !7!=> 9+<<+"!=4 2 =<%+"+!7! +"> 2!"=44 2 < + +<!%7+< < 4= !" " =(=" 9!77 +"+4 "!% %+"+>+ !"% = 7!+7= 2 < +" 4=%!+7, !">!<=% < % "4=e="!+7 >++=4 <=47!" 2< = 4= 2 !4 < >% <+<!4!" 2+" <=+% 2+"=<=44 <!7!=>9+<<+"+',6' ,# +) 4#, , '#,: !,? 6' ,' 6,:# ':: 6# #6# # &217$&7,1)250$7,21 2 ,; %%%;; 0GB33G/@0G//3/ 2'; C3/81BG81@3 =; D4E666 2 # '66 , % % 25 3DQDVRQLF&DQDGD,QF /LPLWHG:DUUDQW\21/<)2586$$1'38(5725,&2 /AA3+:>#,, 7.981 3DQDVRQLF&RQVXPHU0DUNHWLQJ&RPSDQ\RI1RUWK$PHULFD 'LYLVLRQRI3DQDVRQLF&RUSRUDWLRQRI1RUWK$PHULFD 9,4,"63A3C. 3$1$621,&352'8&7±/,0,7(':$55$17< (;&+$1*(352*5$0 3DQDVRQLF.LWFKHQ$SSOLDQFH /LPLWHG:DUUDQW\ /LPLWHG:DUUDQW\&RYHUDJH)RU86$DQG3XHUWR5LFR2QO\ ! 6 : 6, % % D6E6, :6, 6 6 D6 E, 66: ,: 6 6 : # # , , 6: :6 3URGXFWRU3DUW1DPH /DERU 3DUWV ,<% 2))7, , #,%, , 0 0 7%<% 4<G.8 @ @ > D7:E 6 6 : :>DE6 ,6: 6 # 4<6' 6 6 6 DE &DUU\,QRU0DLOLQ6HUYLFH ## ;FF666F0GB33G800G+"+A8@8 $// (;35(66 $1' ,03/,(' :$55$17,(6 ,1&/8',1* 7+(:$55$17<2)0(5&+$17$%,/,7<$5(/,0,7('72 7+(3(5,2'2)7+(/,0,7(':$55$17< 4 6' ,6 6,' 6# #6#!:6 # 6 , 4#%!: ,6; %+> %% @@0! 6 %,(+81183 3$576$1'6(5,9&(:+,&+$5(127&29(5('%<7+,6 /,0,7(':$55$17<$5(<2855(63216,%,/,7< &XVWRPHU6HUYLFHV'LUHFWRU\ 8QLWHG6WDWHVDQG3XHUWR5LFR 2EWDLQ3URGXFW,QIRUPDWLRQDQG2SHUDWLQJ$VVLVWDQFH ORFDWH\RXUQHDUHVW'HDOHURU6HUYLFH&HQWHUSXUFKDVH 3DUWVDQG$FFHVVRULHVRUPDNH&XVWRPHU6HUYLFHDQG /LWHUDWXUHUHTXHVWVE\YLVLWLQJRXU:HE6LWHDW KWWSZZZSDQDVRQLFFRPKHOS RUFRQWDFWXVYLDWKHZHEDW KWWSZZZSDQDVRQLFFRPFRQWDFWLQIR ; 0GB33G800G+"+A8@8 G2 CGC,4 G4 03GA=4 ,)5(3$,5 ,61(('(' '85,1* 7+( :$55$17< 3(5,2' 7+( 385&+$6(5 :,// %( 5(48,5(' 72 )851,6+ $ )RUKHDULQJRUVSHHFKLPSDLUHG77<XVHUV 6$/(65(&(,373522)2)385&+$6(,1',&$7,1*'$7( 77< 2)385&+$6($028173$,'$1'3/$&(2)385&+$6( &86720(5:,//%(&+$5*(')257+(5(3$,52)$1< $FFHVVRU\3XUFKDVHV 81,75(&(,9(':,7+28768&+3522)2)385&+$6( 8QLWHG6WDWHVDQG3XHUWR5LFR /LPLWHG:DUUDQW\/LPLWV$QG([FOXVLRQV 6 "7 % (=<4 6, > =4 " % (=< , , : 6 6+74 > =4 " % (=< 6 , 6 : :6, 6 , , :, , : , , , , , G ?, ? , , 6 , , , , ,,:, , #:# ) #, :: 7+(5( $5( 12 (;35(66 :$55$17,(6 (;&(37 $6 /,67('81'(5³/,0,7(':$55$17<&29(5$*(´ 7+( :$55$1725 ,6 127 /,$%/( )25 ,1&,'(17$/ 25 &216(48(17,$/'$0$*(65(68/7,1*)5207+(86( 2)7+,6352'8&725$5,6,1*2872)$1<%5($&+2) 7+,6:$55$17< +',' ,# #, , '#,: 24 ,+ ! :#9:4 ;;FF666 , :=G ; ; 0GB33G118G/1@B0GB33G81AGC3B32' G2 CGC=4 3DQDVRQLF1DWLRQDO3DUWV&HQWHU WK$YHQXH6RXWK .HQW:$ 9(,% ,>#% ,+ =' )RUKHDULQJRUVSHHFKLPSDLUHG77<XVHUV 77< $VRI'HF % ! 6 : 6 :6 , 66: ,:66: ## , , 6: :% ! =<% 0 = 0 + 0 =2< 0 # 0 %,, 0 6#,66 , : :# : ) % % ,6 6 DE, 6 6 # 6 ,125'(572%((/,*,%/(725(&(,9(:$55$17<6(59,&(+(5(81'(5$385&+$6(5(&(,3725 27+(53522)2)'$7(2)25,*,1$/385&+$6(6+2:,1*$028173$,'$1'3/$&(2)385&+$6( ,65(48,5(' /,0,7$7,216$1'(;&/86,216 6 "7% (=<4 6, > =4" % (=< 6 6+74 > =4" % (=< 6 , 6 : :% !,6 , ,:,, ,,,,G ?, ? ,,6, , , , ,,,,: , #:+) 4#, :: !4 =<=44, 7!!=> 9+<<+" !4 !" 7!= 2 +77 =< 9+<<+"!=4, =<=44 < !7!=>, !"%7>!" +" !7!=> 9+<<+"!=4 2 =<%+"+!7! +"> 2!"=44 2 < + +<!%7+< < 4= !" " =(=" 9!77 +"+4 "!% %+"+>+ !"% = 7!+7= 2 < +" 4=%!+7, !">!<=% < % "4=e="!+7 >++=4 <=47!" 2< = 4= 2 !4 < >% <+<!4!" 2+" <=+% 2+"=<=44 <!7!=>9+<<+"+',6' ,# +) 4#, , '#,: !,? 6' ,' 6,:# ':: 6# #6# # &217$&7,1)250$7,21 2 ,; %%%;; 0GB33G/@0G//3/ 2'; C3/81BG81@3 =; D4E666 2 # '66 , % % 25 3DQDVRQLF&DQDGD,QF /AA3,+:>#, 7.981 352'8,73$1$621,&±*$5$17,(/,0,7e( 0HPR 352*5$00('(5(03/$&(0(17 % ! ' & &' G $# ' $ & &G*h $, $&#& $ &&,,h &, & # *# h,: h $#&#:' $7 & &,:h% ! % )& 0 & 0 h 0 <j 0 2G 0 4& &?*,G,: 0 7&$$h$ $ &, h$l ,# &&&% &% 7 #&&# #&&#&h$& : $ 3285Ç75($'0,66,%/($8;6(59,&(6$87,75('(/$35e6(17(*$5$17,(/$35e6(17$7,21'¶81 5(d8'¶$&+$728'(7287($875(3,Ê&(-867,),&$7,9('(/$'$7('¶$&+$725,*,1$/,1',48$17 /(0217$173$<e(7/(/,(8'(/¶$&+$7(675(48,6( 5(675,&7,216(7(;&/86,216 7&% (<=4=7==" &::h & &'h# :"=% (<=+4$ &7&"=% (<= +4" "74 : , && % !& $ , $:, &, $ &, $#, $&, $ &, $#& j $, $#, $, , $ , && :, $ &, $ j,:,, $&& &$ #&& $ %==+<+"!=7!!===<=44=<=7+%= =+<=+<+"!=,=<=44= !7!%!=, !"%7+" 7=4 +<+"!=4 !7!%!=4 > %+<+%<= +>e+ < 7+ % =<%!+7!4+! " = "4+=+<!%7!=<+"+4 "!%%+"+>+!"%"$+<+>$ 7!+! "="+%"=%!<% "4+"%= < > +=>!<=%,!">!<=% % "4%!2<47+">=7$!7!4+! ">=%=< >! >% 7+">= =>< +! ""=+<+"!==<=44= !7!%!= $', ' h ,?$h # &&, && $, & & &%$'#$$h '# %? ' &, ' > ,&G #g :7&#* &H#)# $ # ### & '(0$1'('(5(16(,*1(0(176 $,#)#; % #h*;&&; 0GB33G/@0G//3/ &&; C3/81BG81@3 7;4)Gh666 26 $ &'#,#)## $ #h* 27 3DQDVRQLF&DQDGD,QF /AA3,+:>#, 7.981 352'8,73$1$621,&±*$5$17,(/,0,7e( 0HPR 352*5$00('(5(03/$&(0(17 % ! ' & &' G $# ' $ & &G*h $, $&#& $ &&,,h &, & # *# h,: h $#&#:' $7 & &,:h% ! % )& 0 & 0 h 0 <j 0 2G 0 4& &?*,G,: 0 7&$$h$ $ &, h$l ,# &&&% &% 7 #&&# #&&#&h$& : $ 3285Ç75($'0,66,%/($8;6(59,&(6$87,75('(/$35e6(17(*$5$17,(/$35e6(17$7,21'¶81 5(d8'¶$&+$728'(7287($875(3,Ê&(-867,),&$7,9('(/$'$7('¶$&+$725,*,1$/,1',48$17 /(0217$173$<e(7/(/,(8'(/¶$&+$7(675(48,6( 5(675,&7,216(7(;&/86,216 7&% (<=4=7==" &::h & &'h# :"=% (<=+4$ &7&"=% (<= +4" "74 : , && % !& $ , $:, &, $ &, $#, $&, $ &, $#& j $, $#, $, , $ , && :, $ &, $ j,:,, $&& &$ #&& $ %==+<+"!=7!!===<=44=<=7+%= =+<=+<+"!=,=<=44= !7!%!=, !"%7+" 7=4 +<+"!=4 !7!%!=4 > %+<+%<= +>e+ < 7+ % =<%!+7!4+! " = "4+=+<!%7!=<+"+4 "!%%+"+>+!"%"$+<+>$ 7!+! "="+%"=%!<% "4+"%= < > +=>!<=%,!">!<=% % "4%!2<47+">=7$!7!4+! ">=%=< >! >% 7+">= =>< +! ""=+<+"!==<=44= !7!%!= $', ' h ,?$h # &&, && $, & & &%$'#$$h '# %? ' &, ' > ,&G #g :7&#* &H#)# $ # ### & '(0$1'('(5(16(,*1(0(176 $,#)#; % #h*;&&; 0GB33G/@0G//3/ &&; C3/81BG81@3 7;4)Gh666 26 $ &'#,#)## $ #h* 27 P2用 2SHUDWLQJ,QVWUXFWLRQV 0RGHG¶HPSORL &RIIHH0DNHU &DIHWLqUH 0RGHO1R ヱㄏㄔㄐㄏㄊチヵㄊㄘㄏチヤㄐハネチロㄕㄅハ :HE6LWH86$ ZZZSDQDVRQLFFRP &DQDGDZZZSDQDVRQLFFD 56%,7 8301 % %-./+0/1 2310143 (+ ,PSRUWDQW6DIHJXDUGV 3DJH 6DIHW\3UHFDXWLRQV ,PSRUWDQW,QIRUPDWLRQ 3DUW1DPHVDQG+DQGOLQJ,QVWUXFWLRQV +RZWR8VH +RZWR&OHDQ 7URXEOHVKRRWLQJ 5HSODFHPHQW3DUW 6SHFLILFDWLRQV :DUUDQW\ 7DEOHGHVPDWLqUHV 3UpFDXWLRQV,PSRUWDQWHV 3DJH &RQVLJQHVGHVpFXULWp ,QIRUPDWLRQLPSRUWDQWH 1RPGHVSLqFHVHWLQVWUXFWLRQVGHPDQLSXODWLRQ 0RGHG¶HPSORL 1HWWR\DJH 'pSDQQDJH 3LqFHGHUHFKDQJH 6SpFLILFDWLRQV *DUDQWLH )UDQoDLV "# $# % &' ()# $ *&& +# $ ,YHXLOOH]SRUWHUXQH DWWHQWLRQWRXWHSDUWLFXOLqUHjODVHFWLRQLQWLWXOpH ³&RQVLJQHVGHVpFXULWp´3DJHa ()# $ && &RQWHQWV (QJOLVK SOHDVHSD\SDUWLFXODU DWWHQWLRQWR³6DIHW\3UHFDXWLRQV´3DJHa ! 1&=)