Vous êtes sur la page 1sur 12

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

'

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

.+)/&")0)(1+$2'/()#$32!)%$/'34()5)$32!1$"$6$%)78!)!9:"'3$)#()6(8;%(8'33()52'6()#(3)%$78!2("(<'32!3)
1%!3'"$'%(3) ;$%!92$) !) ;%$36%'=4() #$) 8$#'6!8$92(3) #$) !"2() 6732(>) 73() 6%?9'6() $) #$) #'3;$93!=4()
$@6$;6'(9!">)(3)1'(",<'6(3A)0)!72(%);!%2$)#$)%$B$@4()!6$%6!)#(3)C!2(%$3)D7$)'9B7$96'!8)!)2(8!#!)
#$)#$6'34()2$%!;E72'6!>)!3)6!73!3)#$)#$8!9#!)+7#'6'!")%$"!6'(9!#!)!)$33!3)8$#'6!=F$3)$)3$7)'8;!62()
;!%!)!3);("&2'6!3);G1"'6!3)#$)3!G#$A

2'0'3%')4(5'3+6) H$#'6!8$92(3) $@6$;6'(9!'3A) *!2(%$3) 1'(",<'6(3A) I2'6!A) J$3;(93!1'"'#!#$) 3(6'!"A)


J$78!2("(<'!A

!" #$%&#$'!" ()*$#'!" +%(" ',-.!.&+'*/" .0/1234/" .!,.+'5


#21'-6" ,'-+$#21'-(.&+." &'!" 71+$('!" *)#'*'!8" 9/!" *$'!"
'+2'$!"!."/:+)("'1;0$/",'-'"/"!/<-$(.&+/"/-$=$&'*/",.1/"
.>,-.!!$0/" &7(.-/" *." .&<.-($*'*.!" ?2." '#/(.+.(" /!"
!.-.!"@2('&/!"/2"!."'1#'&3'6"'+)"(.!(/6"'"#2-'"*."'15
=2('!"*.1'!8"A&+-.+'&+/6")"$&?2.!+$/&B0.1"?2.".!!."#/&5
C2&+/" *." #/&@.#$(.&+/!" +.(" $&<12.&#$'*/" :.(" ('$!" /"
7'08+%90!"*:+!;<*=>+3+8"* *$'=&D!+$#/"."'"+.-',%2+$#'"*/"?2."'",-.0.&34/"*'!"*/.&5
H5#'6(>)$3;$6'!"'32!)$8) 3'!"/2"'",-/(/34/"*'"!'7*.8"
J$78!2("(<'32!)$)8$32%$)$8)
H$#'6'9!);$"!)K9'/$%3'#!#$)
*$#$%!")#()L!%!9:)MK*LJNA) "#$%&#$'"<'-('#/1D=$#'6".!,.#$<$#'(.&+.6"+.("!.":.&.<$5
L%(C$33(%)#$)J$78!2("(<'!) #$'*/"*.!!.!",/-+.&+/!/!"'0'&3/!6",-$&#$,'1(.&+."/!"?2."
#!)K*LJ>)6((%#$9!#(%)#()
*.#/--.("*'":$/1/=$'"(/1.#21'-6",-/+.E($#'"."$(2&/=.5
O$%/'=()#$)P3;(9#'"(!%2%'2$3)#()
Q(3;'2!")#$)R"&9'6!3)MQRSK*LJN>) &)+$#'6":.("#/(/"*'"$&</-(B+$#'"',1$#'*'"F"B-.'"*'"!'75
'92$<%!92$)#!)R(8'334()#$) *.8" ,/$'&*/" .!!'" .>,-.!!$0'" .0/1234/" *'" <'-('#/1/=$'"
P3;(9#'"(!%2%'2$3)#!)O(6'$#!#$) .&#/&+-'5!."'"$&*7!+-$'"<'-('#%2+$#'6"?2."-.!,/&*.",.1/"
T%!3'"$'%!)#$)J$78!2("(<'!>)
R7%'2'1!>)L!%!9:>)T%!3'" *.!.&0/10$(.&+/" ." ,-/*234/" *." &/0'!" *-/='!6" '1)(" *."
#/&+-$:2$-6"*."</-('",-.*/($&'&+.".("+/*/"/"(2&*/6"&/"
#2!+/"*'",.!?2$!'"#1;&$#'8" "=.-'34/"*.":$/<B-('#/!6",/-"
.>.(,1/6".>$=."=-'&*."',/-+."*."-.#2-!/!",/-"!.-",-/*2G$5
*'"'",'-+$-"*.",-/#.!!/!":$/+.#&/1D=$#/!"#'-/!"."*.(/-'5

J$/A)1'(52)MU8;%AN)VWXXY)XZM[N\)]^Z)S)_W ?@A
*/!6"#/("#2!+/!"#-.!#.&+.!6".!+$('*/!".&+-." !/"*.:'+."!/#$'18" 1)("*$!!/6"/:!.-0'5!."?2."
HI"JKK"($1@L.!"."HI"M8NO":$1@L.!"'"M8PP" @B",/2#/"('$!"*."*.G"'&/!"(2$+/!"2!2B-$/!"
:$1@L.!" *." *D1'-.!" .(" .!+2*/!" ?2." *2-'(6" +%(" ',-.!.&+'*/" *.('&*'!" C2*$#$'$!" #/&+-'"
',-/>$('*'(.&+.6"*."#$&#/"'"!.+."'&/!"M8 /" =/0.-&/" .(" +/*/!" /!" !.2!" &;0.$!6" #/(" /"
/:C.+$0/"*."/:+.-"(.*$#'(.&+/!"*."'1+/"#2!+/"
Q/-)(6"&4/"!.",/*.".!?2.#.-"?2."'"$&*7!+-$'" ."*."2!/"#-E&$#/"J6"/#/--%&#$'"?2."+.("=.-'*/"
<'-('#%2+$#'" )6" /:0$'(.&+.6" #/&!+$+2;*'" </-+." $(,'#+/" .#/&E($#/5<$&'&#.$-/" &/" /-5
,/-" .(,-.!'!" #/(" <$&!" 12#-'+$0/!8" 9/" 3'(.&+/"*'"!'7*.8
(2&*/" #',$+'1$!+'" ." =1/:'1$G'*/" )" *$<;#$1"
#/&#.:.-"2('"/-='&$G'34/"?2."&4/":2!?2." [" #/&!$*.-B0.1" '2(.&+/" &'" .>,.#+'+$0'" *."
/"#/&!+'&+."1'&3'(.&+/"*."&/0/!",-/*2+/!" 0$*'"'1#'&3'*/"X"!/:-.+2*/"X"&/"!)#21/"\\"
." !.-0$3/!" (.*$'&+." .!+-'+)=$'!" ?2." 0$!.(" +.("!$*/"$(,21!$/&'*/",/-"'0'&3/!"!/#$'$!"."
F" #/&!/1$*'34/" *." !.2" .!,'3/" &/" (.-#'*/" ,.1/"*.!.&0/10$(.&+/"+.#&/1D=$#/"*'"(.*$#$5
/2"'/"'2(.&+/"*'!"0.&*'!8"A("*.#/--%&#$'" &'6"?2."+-/2>."&/0'!"</-('!"*."*$'=&D!+$#/"
*.!!'!" .!+-'+)=$'!6" '/" 1/&=/" *'!" 71+$('!" ,-.#/#."."()+/*/!"+.-',%2+$#/!"('$!".<$#'G.!"
*)#'*'!" /" ='!+/" #/(" (.*$#'(.&+/!" +.(" ." .<$#$.&+.!" ,'-'" /" +-'+'(.&+/" *." */.&3'!"
#-.!#$*/" '" '1+'!" +'>'!6" ,-$&#$,'1(.&+." &/!" ,-.0'1.&+.!" &'" ,/,21'34/8" A&+-.+'&+/6" '/"
,';!.!" *.!.&0/10$*/!" N6" ." /!" !$!+.('!" *." #-.!#.&+." &7(.-/" *." ,.!!/'!" ('$!" $*/!'!" ."
!'7*.6" ,7:1$#/" ." ,-$0'*/6" +%(" .&<-.&+'*/" ,/-+'*/-'!"*."*/.&3'!"#-E&$#/5*.=.&.-'+$0'!"
*$<$#21*'*.!",'-'":'&#'-"'!"&/0'!"+.-',$'!8" +.("!$*/"#/--.1'#$/&'*/"/"'2(.&+/"*."='!5
9/!" A!+'*/!" H&$*/!" *'" ()-$#'" RAH S6" +/!" #/(" <$&'&#$'(.&+/" *." !'7*." +'&+/" ,/-"
,/-".>.(,1/6"/!"='!+/!"+/+'$!"#/("(.*$#'34/" ,'-+."*/!"#$*'*4/!"."!2'!"<'(;1$'!"#/(/",/-"
'2(.&+'-'("*."HI"NTU8V":$1@L.!".("NKKT" ,'-+." */!" =/0.-&/!8" A!!." ,'&/-'('" -.0.1'"
,'-'" HI" NWO8T" :$1@L.!" .(" NKKW" X" 2(" '" &.#.!!$*'*." ,-.(.&+." *." '(,1'" -.<1.>4/"
#-.!#$(.&+/"*."M6WY" P8"9'"71+$('"*)#'*'6" )+$#'"'"-.!,.$+/"*'!",-B+$#'!"*'"$&*7!+-$'"<'-5
'" #/(.-#$'1$G'34/" *." &/0'!" :$/(/1)#21'!" ('#%2+$#'"<-.&+."F"-.!,/&!':$1$*'*."!/#$'16"
,'-'" /" +-'+'(.&+/" *." */.&3'!" -.2(B+$#'!" </#'1$G'&*/"'",-.!#-$34/"*."<B-('#/!".6".!5
+.("#/&+-$:2;*/",'-'"/"'2(.&+/"*."='!+/!" ,.#$'1(.&+.6"*/!":$/<B-('#/!"2+$1$G'*/!"&'"
,7:1$#/!".",-$0'*/!".("+/*/"/"(2&*/8" -.2('+/1/=$'":-'!$1.$-'8"

Z/(/" .>.(,1/" *." !2#.!!/" $&?2.!+$/&B0.16" =*B"09-!('*C%')!0+!%'*8+*'))!)-DE(!'*


/"(.-#'*/"<'-('#/1D=$#/":-'!$1.$-/"!."',-.5 #'%&'(D/-!('*+*")*&+8!('&+E-")*
!.&+'"#/(/"2("*/!"*.G"('$/-.!"&/" !"#$"%" +F(+B(!"E'!)
(2&*$'1"."/"0'1/-"'1#'&3'*/"&'"0.&*'"*."-.5
()*$/!" .(" &/!!/" ,';!" #@.='" '" !.-" /" */:-/" [" ]$!+.('" ^&$#/" *." ]'7*." R]H]S6" '/"
*/"(.-#'*/"'-=.&+$&/"O8"["='!+/"*'!"<'(;1$'!" ,-/(/0.-" /" '#.!!/" 2&$0.-!'1" ." $=2'1$+B-$/"
:-'!$1.$-'!"#/("(.*$#'34/"+.("('&+$*/"'"$&5 '" +/*'!" '!" '3L.!" ." !.-0$3/!" -.1'#$/&'*/!" F"
*7!+-$'"<'-('#%2+$#'"#/(/"/:C.+/"*."$&+.&5 ,-/(/34/6",-/+.34/"."-.#2,.-'34/"*'"!'7*."

??G T'(C:%8!6(3)$)52'6!)$8)J$78!2("(<'!
*'" ,/,21'34/6" *.&+-." /2+-'!" -.!,/&!':$1$5 */.&3'8"[",-/#.!!/"*."#/&<.#34/"*/!",-/5
*'*.!"-.1'#$/&'*'!6"$&#12$2"/"</-&.#$(.&+/" +/#/1/!",.-($+."?2."!.C'("'*.?2'*'(.&+."
=-'+2$+/"*."(.*$#'(.&+/!"V8" +2'1(.&+.6"'" !2:(.+$*/!" '" #/&!21+'!" ,7:1$#'!6" ,-/(/5
#1'!!." ()*$#'" ." */!" =.!+/-.!" ,7:1$#/!" *$-$5 0.&*/" '(,1'" *$!#2!!4/" ." ,/!!$:$1$+'&*/" '"
=.(".!,.#$'1"'+.&34/"'/!"#'!/!"*."(.*$#'5 ,'-+$#$,'34/" .<.+$0'" *'" #/(2&$*'*." +)#5
(.&+/!"#@'('*/!".>#.,#$/&'$!8" &$#/5#$.&+;<$#'6" *'!" !/#$.*'*.!" ()*$#'!6"
*/!",-/<$!!$/&'$!"*."!'7*.6"*/!"=.!+/-.!"*/"
" '?2$!$34/" ." *$!+-$:2$34/" *.!!.!" (.*$#'5 ]H]6" *." 2!2B-$/!" ." *'" ,-D,-$'" $&*7!+-$'"
(.&+/!" )" -.!,/&!':$1$*'*." */!" .!+'*/!" *'" <'-('#%2+$#'8" Z/&+2*/6" (.!(/" '!!$(6"
_.*.-'34/"'",'-+$-"*."-.#2-!/!"<$&'&#$'*/!",.1/" '&+.!" ?2." ,-/#.*$(.&+/!" ,'-'" '" '2+/-$G'5
=/0.-&/"<.*.-'16",/-"$&+.-()*$/"*/"`$&$!+)-$/" 34/".!+'+'1"*."#/(,-'"."*$!+-$:2$34/"*.!!.!"
*'" ]'7*.8" /" 1/&=/" *'" 71+$('" *)#'*'6" /" (.*$#'(.&+/!"!.C'("#/&#12;*/!6"'+)"(.!5
Q-/=-'('"*."`.*$#'(.&+/!"A>#.,#$/&'$!6".!5 (/" '&+.!" ?2." !." *.!.&0/10'(" ,-/+/#/1/!"
,.#$'1(.&+."#-$'*/",'-'"'"#/(,-'"."*$!+-$:2$5 #1;&$#/!" ." *$-.+-$G.!" +.-',%2+$#'!6" (2$+/!"
34/"*.!!'!"(.*$#'3L.!6"+.("!/<-$*/"'(,1$'34/" ,'#$.&+.!" +%(" -.#/--$*/" '" '3L.!" C2*$#$'$!"
#/&!$*.-B0.1"+'&+/"&/"&7(.-/"*."#/(,/!+/!" #/&+-'"/"=/0.-&/6"&/!"&;0.$!"<.*.-'16".!+'5
*$!,/&;0.$!"?2'&+/"&'"?2'&+$*'*."*.",'#$.&5 *2'1"/2"(2&$#$,'16",'-'"'"!2'"/:+.&34/"J8
+.!" :.&.<$#$'*/!6" :.(" #/(/" &/!" -.#2-!/!" <$5
&'&#.$-/!"'".1.!"*.!+$&'*/!"V8" H*B'B+0*8'*!E8I)-%!'*#'%&'(D/-!('*
E'*-"&'8'*8+*8+(!)J"*&,8!('*
a/*/!" /!" '&/!6" *$0.-!/!" (.*$#'(.&+/!"
#1'!!$<$#'*/!"#/(/".>#.,#$/&'$!"!4/"1'&3'5 3L.!" '1+'(.&+." ,-/<$!!$/&'1$G'*'!" *'" $&5
*/!",.1'"$&*7!+-$'"<'-('#%2+$#'"&/"(.-#'5 *7!+-$'6" -.1'#$/&'*'!" F" ,2:1$#$*'*." ." ,-/5
*/"(2&*$'1".":-'!$1.$-/6"<'+/"?2."+.("=.5 ,'='&*'" *." (.*$#'(.&+/!6" +%(" !." '(5
-'*/"'"&.#.!!$*'*."*."#/&+-/1."('$!".<$#'G" ,1$'*/" ,-/=-.!!$0'(.&+." '/" 1/&=/" *'!" 715
!/:-." .!!'" *$!+-$:2$34/8" 9/" b-'!$16" '+2'15 +$('!"*)#'*'!6"1.0'&*/"'",-D,-$'"$&*7!+-$'"
(.&+."*$!,/(/!"*'!"!.=2$&+.!":$/(/1)#25 '/" '2(.&+/" *." ='!+/!" &.!+'" B-.'" M6" !.(6"
1'!6" #/&!$*.-'*'!" (.*$#'(.&+/!" .>#.,#$/5 .&+-.+'&+/6" *.!,.-+'-" &'" #1'!!." ()*$#'" " '"
&'$!"."',-/0'*'!",.1'" =%&#$'"9'#$/&'1"*." #/(,1.+'",.-#.,34/6"',-/,-$'34/"."'&B1$!."
c$=$1d&#$'"]'&$+B-$'"R &0$!'S",'-'"/"+-'+'5 #-;+$#'"*'"?2.!+4/8"f&<.1$G(.&+.6"'"('$/-$'"
(.&+/" *." */.&3'!" -.2(B+$#'!e" $&<1$>$('5 */!" ()*$#/!" &4/" -.#/&@.#." ?2." ,/!!'" !.-"
:.6".+'&.-#.,+.6"'*'1$(2(':.6"-$+2>$(':.6" $&<12.&#$'*'" ,.1'!" '3L.!" *." &! #'($"%" $&5
':'+'#.,+."."+/#$1$G2(':."X"/"=/1$(2(':." *2!+-$'16"&4/"'+.&+'&*/",'-'"/"<'+/"*."?2."
'$&*'".!+B".(",-/#.!!/"*."'2+/-$G'34/8 !2'!" *.#$!L.!" +.-',%2+$#'!" ,/*.(" -.#.:.-"
$&<12%&#$'8" /"!.-.("?2.!+$/&'*/!6",-/0'5
Z/(/"(.*$*'"*."#/&+-/1.6"</-'(".!+':.1.5 0.1(.&+." (2$+/!" ,-/<$!!$/&'$!" !." C21='-4/"
#$*/!"/!",-/+/#/1/!"#1;&$#/!"."*$-.+-$G.!"+.5 $(2&.!"'".!!.",-/#.!!/6".(:/-'"'!".0$*%&5
-',%2+$#'!",'-'"#'*'"&/0/"(.*$#'(.&+/"." #$'!"*.(/&!+-.("/"#/&+-B-$/"T6W8"

J$/A)1'(52)MU8;%AN)VWXXY)XZM[N\)]^Z)S)_W ??K
Q/*.(/!".&2(.-'-"'1=2('!".!+-'+)=$'!".<$5 `2$+/!" .!+2*/!" #1;&$#/!" *." :$/<B-('#/!" !4/"
#'G(.&+."*.!.&0/10$*'!",.1'"$&*7!+-$'",'-'" *.!.&0/10$*/!".(",'-#.-$'"#/(".!!.!"#.&+-/!8"
'1#'&3'-".!!."/:C.+$0/e"0$!$+'!"*$-.+'!"*."-.5 1)("*$!!/6"#/(/"-.,-/*2+/-.!"*'"$&</-('34/"
,-.!.&+'&+.!"'/!"()*$#/!".("!.2!"1/#'$!"*." $&*2!+-$'16":/&!"</-('*/-.!"*."/,$&$4/6".!+$5
'+.&*$(.&+/6" */'34/" *." :-$&*.!" ." ,-.!.&5 ('*/!",/-"!2'!",/!$3L.!"'#'*%($#'!"."!/#$'$!6"
+.!6",'+-/#;&$/"*.".0.&+/!"."C'&+'-.!"!/#$'$!6" +,'!#' +",/*.("$&<12.&#$'-"&'!",-.!#-$3L.!"*'"
,'+-/#;&$/!"*.".0.&+/!"*.".*2#'34/"()*$#'" #1'!!."()*$#'"N6T8" $&*'"?2."(2$+/!"*.#1'-.("
#/&+$&2'*'" ." *." #/&=-.!!/!" &'#$/&'$!" /2" #/&<1$+/!"*."$&+.-.!!."*2-'&+."!2'!".>,/!$3L.!"
$&+.-&'#$/&'$!6" ,'+-/#;&$/" F" ,.!?2$!'" #1;5 .",'-+$#$,'3L.!".("!$(,D!$/!6"(.!'!5-.*/&*'!6"
&$#'6"'2>;1$/"&'",-/,'='&*'"'".&+$*'*.!"*." #/&<.-%&#$'!6"C/-&'*'!"/2".0.&+/!".!,.#;<$#/!6"
#1'!!."."!.-0$3/!"()*$#/!6".&0/10$(.&+/"&/" .!!'" '+$+2*." #/(,1.+'(.&+." )+$#'" ,'-.#." /#'5
<$&'&#$'(.&+/"'",-/+/#/1/!"."*$-.+-$G.!"+.5 !$/&'-",/2#/"$(,'#+/"&'"<2+2-'"*.#$!4/"+.-'5
-',%2+$#'!8" 1)("*$!!/6"(2$+/!"C/-&'$!"()5 ,%2+$#'"*'",1'+.$'"*."()*$#/!8
*$#/!"0.$#21'(",-/,'='&*'"$&*2!+-$'1".6".("
'1=2&!6" /!" !2,1.(.&+/!" !4/" $&+.=-'1(.&+." [" #/&C2&+/" *." #/&@.#$(.&+/!6" #-$+)-$/!" ."
,'+-/#$&'*/!8" cB-$/!" .!+2*/!" &'" 1$+.-'+25 #/&#.$+/!"*$<2&*$*/!",.1'".,$*.($/1/=$'"#1;5
-'" ()*$#'" (/*.-&'" *.(/&!+-'(" ?2." ',D!" &$#'" ." ,.1/" ?2." -.#/&@.#.(/!" #/(/" (.*$5
!$(,1.!" 1.$+2-'" *." ('+.-$'1" #$.&+;<$#/" ,'5 #$&'" :'!.'*'" .(" .0$*%&#$'!"+.(" !." (/!+-'5
+-/#$&'*/"/2"*$!+-$:2;*/",.1'"$&*7!+-$'6"@B" */",/*.-/!'"."7+$1"<.--'(.&+'",'-'"'"1.$+2-'"
('$/-".!+;(21/"*/!"()*$#/!",'-'"'",-.!#-$5 #-;+$#'" *'" 1$+.-'+2-'" ()*$#'6" !.&*/" ,-.#$/!/"
34/"*.!!'!"(.*$#'3L.!"U8 '2>;1$/" ,'-'" /" *.!.&0/10$(.&+/" *." '+$+2*.!"
$!.&+'!6" ('$!" #$.&+;<$#'!" ." (.&/!" !2C.$+'!" '"
[",.-$=/"*."?2."/".&0/10$(.&+/"*'"$&*7!+-$'" $&<12%&#$'!"*/"&! #'($"%"$&*2!+-$'18"a/*'0$'6"
<'-('#%2+$#'"&'",.!?2$!'"#1;&$#'",/!!'"1.0'-" '"(.*$#$&'":'!.'*'".(".0$*%&#$'!6"#/(/"<.-5
'"*$!+/-3L.!"*.".0$*%&#$'!"()*$#/5#$.&+;<$#'!" -'(.&+'"$!/1'*'6"&4/"+.("/:+$*/"!2#.!!/".("
'$&*'"&4/",'-.#."!.-"?2.!+4/",-$/-$+B-$'",'-'" #/&+-':'1'&3'-".!!.".<.$+/"&/"-.#.$+2B-$/"()5
'",-B+$#'"#/+$*$'&'"*."-.2('+/1/=$!+'!":-'!$5 *$#/6".>'+'(.&+.",/-?2."'"$&*7!+-$'"+'(:)("
1.$-/!8"9/",';!6"'".>.(,1/"*."*$0.-!'!"/2+-'!" *.1'" !." ',-/,-$/2" ,'-'" *.!.&0/10.-" !2'!" .!5
&'3L.!".(.-=.&+.!6"'"$&*7!+-$'"<'-('#%2+$#'" +-'+)=$'!".",.!?2$!'!8" "('$/-$'"*/!".!+2*/!"
+.("$&0.!+$*/"#/&!$*.-B0.$!"-.#2-!/!"&'"</-5 #1;&$#/!"*."&/0'!"(.*$#'3L.!6",/-".>.(,1/6")"
('34/" *." ,'1.!+-'&+.!)* /-$2&*/!" */!" ('$!" $(,.#'0.1(.&+."*.!.&0/10$*'"*.&+-/"*/"-$=/-"
#/&#.$+2'*/!"#.&+-/!"2&$0.-!$+B-$/!"MK8"A!!.!" #$.&+;<$#/6"2+$1$G'&*/"*.1$&.'(.&+/!"*.",.!5
+,'!#' +" !4/" =.-'1(.&+." ,-/<.!!/-.!" -.&/5 ?2$!'"#'*'"0.G"('$!"#/(,1.>/!6"#/&+-/1'*/!"."
('*/!6"#/(":/("#/&#.$+/".&+-."!.2!",'-.!" +':21'*/!",/-"'*.?2'*'"'&B1$!.".!+'+;!+$#'"MN8"
." *.+.&+/-.!" *." '1+'" </-('34/" ." +$+21'34/"
'#'*%($#'8" 1=2&!"*.1.!"+%("#.&+-/!"*.",.!5 A&+-.+'&+/6"'$&*'")"&/+D-$/"?2."'"$&*7!+-$'"!D"
?2$!'"?2'!."$&+.=-'1(.&+.",'+-/#$&'*/!",.1'" ,'+-/#$&'"'",2:1$#'34/"*.".!+2*/!"?2."*.(/&!5
$&*7!+-$'"<'-('#%2+$#'"MM8" +-.(" .<.$+/!" ,/!$+$0/!" *." !2'!" *-/='!" .6" =.-'15

??L T'(C:%8!6(3)$)52'6!)$8)J$78!2("(<'!
(.&+.6"/!".!+2*/!",'+-/#$&'*/!"!4/",2:1$#'*/!" ,/2#/!"-.#2-!/!"."&4/",/!!2$"$&*.,.&*%&#$'"
.(" -.0$!+'!" $&+.-&'#$/&'1(.&+." -.#/&@.#$*'!" <$&'&#.$-'8" A(" ,'-#.-$'6" !4/" :.&.<$#$'*'!"
." ,/!!2$*/-'!" *." </-+." #-$0/" .*$+/-$'16" .!+-'+)5
#/("<2&*/!",-/0$*/!",.1'"$&*7!+-$'6"#/("/"
=$'" ?2." '2(.&+'" '" #-.*$:$1$*'*." *'" ,.!?2$!'8" /:C.+$0/"*."('&+.-"!.2!",-/C.+/!"."!.-0$3/!"
a'(:)(" +%(" !$*/" #-.!#.&+.!" /!" .!+2*/!" *$'=5 ,'-'" /!" '!!/#$'*/!8" !!$(6" ,/*.(" #-.!#.-"
&D!+$#/!"R</#'*/!",-$&#$,'1(.&+."&/"*$'=&D!+$#/" .(" -$+(/" ('$!" '#.1.-'*/" */" ?2." /" ,/!!;5
,-.#/#.S"!/:",'+-/#;&$/"$&*2!+-$'16"?2.6".(:/-'" 0.1"',.&'!"#/("<2&*/!"*."!.2!"'!!/#$'*/!6"
,/!!'("1.0'-"F"(.1@/-"':/-*'=.(".",-/=&D!+$#/" ."+'(:)(",/*.("!.":.&.<$#$'-"#/("</&+.!"
*.",'#$.&+.!"MP6",/*.("$&*2G$-"'"2+$1$G'34/",-.#/5 '*$#$/&'$!"*."$&</-('34/"/26"(.!(/6",-/5
#."*."+.-',%2+$#'"<'-('#/1D=$#'8" *2G$-"$&</-('34/6",/-"(.$/"*."C/-&'$!"."-.5
0$!+'!",-D,-$'!"MJ8"A&+-.+'&+/6"&4/")"*$<;#$1"
Z/(/" .>.(,1/6" #$+'5!." /" #'!/" *." ,'#$.&+.!" $('=$&'-" ?2." '!" '=.&*'!" *.!!'!" .&+$*'*.!"
,/-+'*/-.!"*.".!,/&*$1/'-+-$+.!6"'+2'1(.&+.":.5 ,/!!'("!.-"(/*$<$#'*'!",/-"/2+-'!",-$/-$*'5
&.<$#$'*/!" #/(" (.1@/-.!" ;&*$#.!" *." '0'1$'34/" *.!"*/!",'+-/#$&'*/-.!8"
<2&#$/&'1" ." *." '+$0$*'*." *." !2'!" */.&3'!" */"
?2."@B"*2'!"*)#'*'!"MP8""g"&/+D-$/"?2."#-$+)-$/!" " $&*7!+-$'" <'-('#%2+$#'6" .(" ,'-'1.1/6" !."
*."'0'1$'34/"!.C'("2+$1$G'*/!"',-/,-$'*'(.&+." :.&.<$#$'" *.!!'" -.1'34/" #/(" '" .>,'&!4/" *."
,.1'" $&*7!+-$'" <'-('#%2+$#'" ,'-'" '" #/&<.#34/" !.2"(.-#'*/6",/$!",'-+."*/!"#1$.&+.!"?2.",/5
*.",-/+/#/1/!"+.-',%2+$#/!".",'-'"'"!2'"'+2'34/" +.&#$'1(.&+.",/*.("2+$1$G'-"!.2!",-/*2+/!"
C2&+/" '" .&+$*'*.!" =/0.-&'(.&+'$!" &/" !.&+$*/" .!+4/" 1$='*/!" '" .!!'!" .&+$*'*.!6" ,-$&#$,'15
*."='-'&+$-"2("-.//0*('$!"</-+.",'-'"'"'#.$+'5 (.&+."?2'&*/"/"(.*$#'(.&+/",-/*2G$*/")"
34/"."#/(,-'"*."!.2!"(.*$#'(.&+/!8"Z/&+2*/6" *$-$=$*/"'/"+-'+'(.&+/"*."2('".&<.-($*'*."
&/"(2&*/"(/*.-&/6"&.("'"(.*$#$&'"#1;&$#'" .!,.#;<$#'8" 1)("*$!!/6"#/(".!!'"',-/>$('5
."'"$&*7!+-$'6"&.("'"(.*$#$&'"'#'*%($#'"."'" 34/6" '" $&*7!+-$'" </-&.#." -.!,/!+'" 1.=;+$('"
$&*7!+-$'6",/*.("!/:-.0$0.-"$&*.,.&*.&+."2('" '/!" '&!.$/!" *'" !/#$.*'*.6" +/-&'&*/" 0$!;0.1"
*'"/2+-'8"["-.#/&@.#$(.&+/"*.!!'"$&+.-*.,.&5 !2'" -.!,/&!':$1$*'*." !/#$'1" ." !2'!" <2&3L.!"
*%&#$'")".!!.&#$'1",'-'"?2'1?2.-"*$!#2!!4/"-.1'5 &/"#2$*'*/"F"!'7*."*.",/-+'*/-.!"*."*/.&5
#$/&'*'"'/",',.1"?2."#'*'"2("*.!!.!"'+/-.!"*.5 3'!8" /" (.!(/" +.(,/6" .!!'" '+2'34/" #/&5
!.(,.&@'6"&/"!.&+$*/"*."='-'&+$-"'0'&3/!"&'!" C2&+'" +'(:)(" ='-'&+." ('$/-" 1.=$+$($*'*."
,/1;+$#'!"*."!'7*.".6"+'(:)(6",'-'".!+':.1.#.-" &'!" '3L.!" *.!+$&'*'!" '" $&+.-<.-%&#$'!" .("
#D*$=/!")+$#/!"*."#/&*2+'".&+-.".1.!"U6MO8 -.!+-$3L.!" $(,/!+'!" ,.1'!" ,/1;+$#'!" ,7:1$#'!"
*."!'7*."."-.=21'(.&+'3L.!"-.1'#$/&'*'!"F"
=*!E8I)-%!'*#'%&'(D/-!('*+*')* #/(,-'"."*$!+-$:2$34/"*."(.*$#'(.&+/!8"
'))"(!'MN+)*8+*B'(!+E-+)*B"%-'8"%+)*
8+*8"+EM')*%+/&$-!(')*E"* %')!0 "#/&+-'+'34/"*."!.-0$3/!".>+.-&/!",/-",'-5
+."*'"$&*7!+-$'6".(,-.='*/!",'-'"(/&$+/-'-"
9/" b-'!$16" '" ('$/-$'" *'!" .&+$*'*.!" -.,-.5 '"?2'1$*'*."."'"!.=2-'&3'"*/"+-'+'(.&+/"*."
!.&+'+$0'!"*."=-2,/!"*.",'#$.&+.!"*$!,L."*." ,'#$.&+.!6"+.("!$*/"#'*'"0.G"('$!"<-.?2.&+."."

J$/A)1'(52)MU8;%AN)VWXXY)XZM[N\)]^Z)S)_W ??O
.!!'!"/-='&$G'3L.!"$&+.-(.*$B-$'!",-/(/0.(" i.2('+/1/=$'" *.!.(,.&@'!!.(" ,',.1" ('$!"
."=.-.&#$'(",-/=-'('!"*."',/$/"'/!"2!2B-$/!" $(,/-+'&+."&'"$&+.=-'34/"*/!"C/0.&!".!,.#$'5
*."(.*$#'(.&+/!8" ",/!!$:$1$*'*."*."?2."/" 1$!+'!"F!",/1;+$#'!",7:1$#'!"*."!'7*."&/"b-'!$18"
'2(.&+/" *." <2&*/!" .!+'+'$!" :-'!$1.$-/!" *.!5
+$&'*/!"'",-/C.+/!"."F"!/:-.0$0%&#$'"*."/-='5 j.('&*'!" C2*$#$'$!" ,'-'" '" /:+.&34/" *."
&$G'3L.!"&4/" =/0.-&'(.&+'$!" ,/!!'" #/--$=$-" (.*$#'(.&+/!" *." '1+/" #2!+/" +%(" !$*/" /-$5
,'-#$'1(.&+." /" 0$)!" $&*2G$*/" ,.1'!" -.1'3L.!" =$&'*'!"+'&+/".("#/&!21+D-$/!",'-+$#21'-.!"
*.!!'!" .&+$*'*.!" #/(" '" $&*7!+-$'" *.0." !.-" ?2'&+/".("'(:21'+D-$/!"*."!.-0$3/!",7:1$5
!.-$'(.&+." #/&!$*.-'*'8" A!!'!" (.*$*'!" !." #/!"*."!'7*.6",'-+$#21'-(.&+."/!"*."&;0.1"!.5
<'G.("&.#.!!B-$'!",'-'"/"=/0.-&/6"@'C'"0$!+'" #2&*B-$/"."+.-#$B-$/8"j."'#/-*/"#/("/",-$&5
?2."(2$+'!"*.('&*'!"C2*$#$'$!"!4/"/-$=$&'5 #;,$/" *'" .?2$*'*." */" ]H]6" )" 1.='1(.&+."
*'!"#/("/"',/$/"*.".&+$*'*.!"-.,-.!.&+'+$0'!" ='-'&+$*'"'/!",'#$.&+.!"/-$2&*/!"*.",1'&/!"
*.",'#$.&+.!6",'-'"'!!$("/:+.-.("('$/-"1.=$5 *."!'7*.",-$0'*/!"/2"*."#/&!21+D-$/!",'-+$5
+$($*'*." ." +-'&!,'-%&#$'6" (.!(/" ?2." .!!'!" #21'-.!"'"(.!('",-$/-$*'*.",'-'"'"/:+.&34/"
'3L.!"&4/"!.C'("*."#'-B+.-"#/1.+$0/8 *." (.*$#'(.&+/!" .>#.,#$/&'$!" ?2." +%(" /!"
,'#$.&+.!" #2C'" '!!$!+%&#$'" F" !'7*." *.,.&*."
=*!E#0/DE(!'*8'*+8/('MJ"*&,8!('*E'* 7&$#'".".>#12!$0'(.&+."*/"!$!+.('",7:1$#/8"
B%+)(%!MJ"*8+*C!"0<1!(")*+*'*P/+)-J"* A!+'" ,'-.#." !.-" 2('" !$+2'34/" !/#$'1(.&+."
8'*+P/!8'8+*+*!E-+1%'0!8'8+*8'* $&C2!+'" ?2'&*/" #/(,'-'(/!" '!" *$<$#21*'5
'))!)-DE(!'*B+0"*QRQ* *.!".&<-.&+'*'!",/-",'#$.&+.!".>#12!$0/!"*/"
]H]"#/("'!".&<-.&+'*'!",/-",'#$.&+.!"*/"
[2+-/",-/:1.('":-'!$1.$-/"-.1'#$/&'*/"'/"'25 !$!+.('",-$0'*/6"*.!*."/"'#.!!/"'/!"!.-0$3/!"
(.&+/"*/"2!/"*.":$/<B-('#/!"."?2."#.-+'(.&5 !.#2&*B-$/!"."+.-#$B-$/!"'+)"/"(/(.&+/".("
+." $&+.-<.-." &'" B-0/-." *.#$!D-$'" +.-',%2+$#'6" ?2."-.#.:.("'"$&*$#'34/"*."2("(.*$#'(.&5
$&*.,.&*.&+."*'".!,.#$<$#$*'*."*'"*/.&3'"."*'" +/"?2."!.-B"'*?2$-$*/",/-"*.('&*'"C2*$#$'18"
+.-',%2+$#'"$&*$#'*'6")"/"-.1'+$0/"*.!#/&@.#$5
(.&+/"*'"1D=$#'"*."<2&#$/&'(.&+/"*/"]H]" ["-.'1".&+.&*$(.&+/"!/:-."/"*.!.?2$1;:-$/"
,/-",'-+."*'"#1'!!."()*$#'":-'!$1.$-'8"A(:/-'" ?2."+'1"*.('&*'"/#'!$/&'"'/"]H]"$(,1$#'"
(2$+/!"-.2('+/1/=$!+'!".>.-3'("!2'!"<2&3L.!" .("?2."'"#1'!!."()*$#'",.-#.:'"#/--.+'(.&5
.("!.-0$3/!",-$0'*/!6"'$&*'"('&+%("'1=2('" +."?2.6"'1)("*/"$&#-.(.&+/"*/!",-/#.!!/!"*."
1$='34/"#/("/"!.-0$3/",7:1$#/6"?2.-".("&;0.1" C2*$#$'1$G'34/"&'"!'7*.6"'!"<-'=$1$*'*.!"$(5
(2&$#$,'16".!+'*2'1"/2"<.*.-'1"MV8 ,/!+'!",.1/"/-3'(.&+/"*'"H&$4/"*.!+$&'*/"
F" !'7*." =.-'(" !)-$'!" 1$($+'3L.!" &'!" '3L.!"
" h.$" [-=d&$#'" */" ]H]" .!+':.1.#.2" ?2." *."2("!$!+.('"?2.6",/-"#'2!'"*."!.2!",-$&5
/" !$!+.('" *.0." !.-" /" /-*.&'*/-" *'" ,/1;+$#'" #;,$/!"."<2&*'(.&+/!6".!+B".(",.-('&.&+."
*." </-('34/" *." -.#2-!/!" @2('&/!" .(" !'75 ,-/#.!!/"*."#/&!+-234/"#/1.+$0'8"9/"b-'!$16"
*."."?2.6",/-+'&+/6"!.-$'"2("*.!*/:-'(.&5 '+$&=$(/!"2('"!$+2'34/".("?2."/"/-3'(.&5
+/" &'+2-'1" ?2." '!" -.!$*%&#$'!" ()*$#'!" .(" +/" *.!+$&'*/" F" ,-.0$*%&#$'" !/#$'1" 21+-','!5

??S T'(C:%8!6(3)$)52'6!)$8)J$78!2("(<'!
!'".("#.-#'" *." ?2'+-/" 0.G.!" /" *.!+$&'*/" F" ,1.$+.'*'!" &4/" +%(" -.=$!+-/" &'" &0$!'" ." /"
!'7*.8" f!!/" .>,1$#'" ,'-#$'1(.&+." /" (/+$0/" A!+'*/")"/:-$='*/"'"</-&.#%51'!",/-"0$'"C25
*."/"]H]"!.".&#/&+-'-".("+'&+'"*$<$#21*'5 *$#$'18"A&+-.+'&+/6".>$!+.("-.=$!+-/!"*."*.5
*.6" ,/$!" +.(" .(" !2'" #1$.&+.1'" PK" ($1@L.!" ('&*'"C2*$#$'1"/&*."'"(.*$#'34/",1.$+.'*'"
*."',/!.&+'*/!".",.&!$/&$!+'!"'"?2.("*.0." &4/")"='-'&+$*'",/-"1.$",'-'"/"+-'+'(.&+/"*'"
,-.!+'-" '!!$!+%&#$'6" !.(" -.#.:.-" ?2'1?2.-" .&<.-($*'*."!/1$#$+'*'6".(:/-'",'-'".&<.-5
#.&+'0/"*."'--.#'*'34/"*/!"MVK":$1@L.!"*." ($*'*."!$($1'-"CB"+.&@'"!$*/"',-/0'*'",'-'"
-.'$!"*/"/-3'(.&+/"*'",-.0$*%&#$'8" 2!/".6".("'(:/!6"/!":.&.<;#$/!"+.-',%2+$#/!"
!.".&#/&+-'("&/"(.!(/"&;0.1"*.".0$*%&#$'8"
i.,-.!.&+'&+.!"*.".&+$*'*.!"()*$#'!":-'!$5
1.$-'!"+'(:)("-.#/&@.#.("?2."/"'2(.&+/" H(" .>.(,1/" </$" /" ?2." (/+$0/2" ,-/#.!!/!"
*."-.#2-!/!"*.!+$&'*/!"F"!'7*.",/*."+.-"'15 &/!" ?2'$!" .!+$0.-'(" .&0/10$*/!" /!" '=.&+.!"
=2(" $(,'#+/" ,'-'" /" /-3'(.&+/" *." /2+-'!" '&+$a9_"'1<'6"1$:.-'*/!"(.*$'&+.",/-+'-$'"
$(,/-+'&+.!" B-.'!" *." *.!.&0/10$(.&+/" ." ($&$!+.-$'1",'-'"/"+-'+'(.&+/"*.",/-+'*/-.!"
!/:.-'&$'" &'#$/&'18" 9.!!'!" *2'!" 71+$('!" *."'-+-$+."-.2('+/$*."MT8"A!!.!"(.*$#'(.&5
*)#'*'!6",/-".>.(,1/6"&/!!/"=/0.-&/""+.(" +/!" !D" </-'(" 1$:.-'*/!" ,'-'" ,/-+'*/-.!" *."
.&<-.&+'*/" ,-.!!L.!" !/#$'$!" 1.=;+$('!" ,'-'" .!,/&*$1$+."'&?2$1/!'&+."."'-+-$+.",!/-$B+$#'"
?2." @'C'" .>,'&!4/" .(" 0B-$'!" /2+-'!" B-.'!" &/" $&;#$/" *.!+." '&/6" (.!(/" ?2." #/(,-/5
?2."@$!+/-$#'(.&+."!/<-.("*.('&*'"-.,-$5 0'*/!"/!":.&.<;#$/!"-.1'#$/&'*/!"F"(.1@/-$'"
($*'6"+'$!"#/(/"'".*2#'34/6"/!"+-'&!,/-+.!6" *'"'+$0$*'*."#1;&$#'"."#','#$*'*."<2&#$/&'1"
'" $&*7!+-$'" &'#$/&'16" '!" $(,/-+'3L.!" ." .>5 &.!!.!".&<.-(/!"MW5NK8"a'$!".0$*%&#$'!"</-'("
,/-+'3L.!6"'"'=-$#21+2-'6"*.&+-."/2+-'!8" $&*$#'*'!6"$&#12!$0.6".(",-/+/#/1/!"+.-',%25
+$#/!"'#.$+/!".(",';!.!"*.!.&0/10$*/!"."',-/5
["$(,'#+/"!/#$'1"*'!"*.('&*'!"C2*$#$'$!",'-'" 0'*/!",/-"!2'!"'=%&#$'!"-.=21'*/-'!8"9.!!."
'" '?2$!$34/" *." (.*$#'(.&+/!" .>#.,#$/&'$!" ." #'!/6"'"'2+/-$G'34/6"?2.".&0/10.2"#/&!21+'"
,'-+$#21'-(.&+." :$/1D=$#/!" +.(" ,-./#2,'*/" ,7:1$#'" ." ,-/#.!!/!" :2-/#-B+$#/!" &.#.!!B5
.&+$*'*.!" ()*$#'!" ?2." -.#/&@.#.(" '" &.#.!5 -$/!6"</$"(2$+/"1.&+'".6"'+2'&*/"#/(/"#'+'5
!$*'*." *." 2('" *$!#2!!4/" ('$!" ',-/<2&*'*'" 1$G'*/-.!6"+'&+/"-.2('+/1/=$!+'!"?2'&+/",'5
!/:-." '!,.#+/!" :$/)+$#/!" *'" '1/#'34/" *." -.5 #$.&+.!"#'&*$*'+/!"'/"2!/6"!':.*/-.!"*."?2."
#2-!/!" <$&'&#.$-/!" ,'-'" '" #/(,-'" *." &/0'!" '!" .0$*%&#$'!" ." :.&.<;#$/!" .-'(" <'#$1(.&+."
(.*$#'3L.!6".&0/10.&*/"+/*'"'"#1'!!.8"j'*/!" *.(/&!+-B0.$!6",-.<.-$-'("'&+.#$,'-"'"'?2$5
.#/&E($#/5<$&'&#.$-/!"*$!,/&;0.$!".("D-=4/!" !$34/"(.*$'&+.",-/#.!!/!"C2*$#$'$!8"
.!+'+'$!"*.0.("!.-"#/&+$&2'(.&+."*$021='*/!"
.",/*.("#/&+-$:2$-",'-'"'"#/&!#$.&+$G'34/"*/" " *.#$!4/" +.-',%2+$#'" *." -.2('+/1/=$!+'!"
()*$#/"!/:-."'"-.1.0d&#$'"*/"+.('8" #1'-'(.&+."&4/".!+B",'2+'*'"!/(.&+.".("
,-$&#;,$/!" <'-('#/*$&d($#/!6" <'-('#/5
[" *.!'<$/" .!+B" $(,/!+/6" !/:-.+2*/6" ,'-'" '" #$&)+$#/!6" <'-('#/.#/&E($#/!" /2" <'-('5
-.!/1234/"*/!"#'!/!"&/!"?2'$!"'!"(.*$#'3L.!" #/+)#&$#/!6" /2" (.!(/" &/" .&+.&*$(.&+/"

J$/A)1'(52)MU8;%AN)VWXXY)XZM[N\)]^Z)S)_W ??@
*/" '*.?2'*/" <2&#$/&'(.&+/" */" ]H]8" !." '" ,-.!#-.0.8" i.!,.$+'-" '" '2+/&/($'" */"
A1'" +'(:)(" *.,.&*." *." ,-$&#;,$/!" )+$#/!" ,'#$.&+.")"<2&*'(.&+'16".!,.#$'1(.&+.".("
#.&+.&B-$/!"?2."!4/"0.-*'*.$-'!",.*-'!"'&5 B-.'!" #/(/" '" -.2('+/1D=$#'" X" &'" ?2'1" !."
=21'-.!" *'" (.*$#$&'e" , $&.* "."* ".1' '8" " #/&@.#.6"&'"@$!+D-$'"-.#.&+.6"#'!/!"*."(.5
,-$(.$-'" &/34/" ?2." /-$.&+'" '" ,-B+$#'" ()5 *$#'3L.!"?2."'/"1/&=/"*/"2!/"."#/("-.!215
*$#'")"&4/"<'G.-"('16"&4/"#'2!'-"*'&/!"'/" +'*/!"*.".!+2*/!",D!5&! #'($"%*</-'("-.+$5
,'#$.&+.e"/",-$&#;,$/"*'"&4/"('1.<$#%&#$'k" -'*'!"*/"(.-#'*/",/-"!)-$'!"#/(,1$#'3L.!"
'" !.=2&*'6" )" /" ,-$&#;,$/" *'" :.&.<$#%&#$'e" #1;&$#'!"$&*2G$*'!",.1/"2!/",-/1/&='*/"NM8
1.0'-" /" (.1@/-" :.&.<;#$/" ,/!!;0.1" #/(" /"
+-'+'(.&+/k" '" +.-#.$-'6" <$-('5!." &/" ,-$&5 "<$=2-'"'"!.=2$-"',-.!.&+'"'1=2('!"0'5
#;,$/"*'"'2+/&/($'6"/2"!.C'6"'#'+'-"/"#/&5 -$B0.$!".&0/10$*'!"&'"*.#$!4/"+.-',%2+$#'"
!.&+$(.&+/" */" ,'#$.&+.6" ,/$!" !." .1." &4/" */" ()*$#/" ." &/!" ('&*'*/!" C2*$#$'$!" -.5
*.!.C'" <'G.-" 2!/" *'" (.*$#'34/6" *.!*." ?2." 1'+$0/!"'/!":$/1D=$#/!"."'"/2+-'!"(.*$#'5
+.&@'"!$*/"'*.?2'*'(.&+."/-$.&+'*/6"&4/" 3L.!".>#.,#$/&'$!e

!"#$!%&'() G3%3((&*'*3)
*')&!*+(,-&') -3':)*1)#(1)*1)
/3*&%'/3!,1
.'-/'%$#,&%'
01!*#,')
2'(3'*')3/) 01/61-,'/3!,1)
34&*$!%&'( +,)(-.$%/,0!12'/()!% H,&%1)2'(3'*1)!1()
#$%34#()$%1!0!% 6&:'-3(E)23!3I%&$!%&'J)
'-$%#,%#0$5!-% !>1)/':3I%$!%&')3)
,6),1)($"!(- '#,1!1/&'
01!53%&/3!,1)
*1()6-&!%76&1()*1)
898)3)*')61:7,&%')
*3)/3*&%'/3!,1() 01/63,$!%&')
3;%36%&1!'&( *1)6-1I((&1!':E)
!"#!#$%
%1!53%&/3!,1),H%!&%1)*')
&'#()(!*
*13!=')3)*')/3*&%'=>1
<=>1)*3)
1-?'!&@'=>1)*3)
61-,'*1-3( C3%&(>1)D#-7*&%'E)
%1/6:3;&*'*3)*') !3;&(,$!%&')*3)
*3%&(>1)*')&!(,F!%&') 6-1,1%1:1()%:7!&%1()3)
D#:?'*1-' *&-3,-&@3()1I%&'&(
<61&1)D#-7*&%1)
'1)23!3I%&'*1
AB#&*'*3)3)
&!,3?-':&*'*3)*')
'((&(,$!%&'

??? T'(C:%8!6(3)$)52'6!)$8)J$78!2("(<'!
T"E)!8+%'MN+)*#!E'!) ,'-'"'+$&=$-"/!"1$($+.!"*'!"#$%&#$'!"!/#$'$!6"
*/" #/1.+$0/" ." *'" ,-D,-$'" .!,)#$.8" ]':.5!."
["*.!'<$/".!+B",/!+/",'-'"+/*'"'"!/#$.*'*." ?2."'"!.,'-'34/"-'*$#'1"*/"?2.")",7:1$#/"."
.6".(".!,.#$'16",'-'"'"#1'!!."*."-.2('+/1/5 */"?2.")",-$0'*/"&4/"+.("!2-+$*/"/!".<.$+/!"
=$!+'!" :-'!$1.$-/!e" #/(,-..&*.-" ." $&+.-0$-" &.#.!!B-$/!" ,'-'" '" #/&!#$.&+$G'34/" !/#$'1"
&.!+."<.&E(.&/"#-.!#.&+."?2.")"'"*.('&*'" */",-/:1.('8" /!"-.2('+/1/=$!+'!6"$&#.&5
,/-" (.*$#'3L.!" ('$!" #'-'!" ." *." 2!/" #-E5 +$0'*/!",/-"!2'!".&+$*'*.!"-.,-.!.&+'+$0'!6"
&$#/8" j.0.(/!" &/!" ?2.!+$/&'-" #/&+$&2'5 #':." ,'-+$#$,'-" *." '3L.!" -.<1.>$0'!" #/&+$5
(.&+."'+)"?2.",/&+/"'!"&.#.!!$*'*.!"()5 &2'*'!" !/:-." !2'!" '+2'3L.!" &/" #/&+-/1."
*$#'!" ." +.-',%2+$#'!" *." ,'#$.&+.!" !4/" 2'+3 *'" ,-.!#-$34/" *." (.*$#'(.&+/!" .>#.,#$/5
"'1'++! $!&'"('"#-$'*'!" NN" ."'+)"?2.",/&+/" &'$!6",/&*.-'&*/"/!"<'+/-.!"?2."$&+.-<.-.("
'"!/#$.*'*."*.0."<$&'&#$'-"/"2!/"*."(.*$5 .(" !2'!" #/&*2+'!6" $&#12!$0." -.*.<$&$&*/6"
#'(.&+/!".>#.,#$/&'$!".("*.+-$(.&+/"*/!" ?2'&*/"&.#.!!B-$/6"!2'!"-.1'3L.!"#/("'"$&5
$&0.!+$(.&+/!",'-'"'",-/(/34/"*'"!'7*."." *7!+-$'"<'-('#%2+$#'8
,-.0.&34/"*."*/.&3'!8"c$0.(/!"2("*$1.('"
?2."&/!"*$0$*.".&+-."/!"#'($&@/!"?2'!."$1$5 A(" *.#/--%&#$'" *." !2'" =-'&*." -.!,/&!'5
($+'*/!"?2."'"#$%&#$'",/*."&/!",-/,/-#$/5 :$1$*'*." !/#$'16" /" -.2('+/1/=$!+'" +'(:)("
&'-" ." /" #/&+-/1." )+$#/6" ':!/12+'(.&+." $&5
&.#.!!$+'"*.*$#'-"'1=2('!"@/-'!"*.".!+2*/"
*$!,.&!B0.1" ,'-'" +-$1@B51/!6" !/:-." -.#2-!/!"
,'-'"/"#/&@.#$(.&+/"."'+2'1$G'34/"*."1.$!"
.#/&E($#/5<$&'&#.$-/!6"<;!$#/!"."@2('&/!8" ." &/-('!" .(" 0$=/-" -.1'#$/&'*'!" F" !.=2-$5
!!$(6"&4/"*.0.(/!",'-#.1'-"'"#/(,-..&5 *'*." !/#$'16" '/" .>.-#;#$/" ,-/<$!!$/&'1" ." F"
!4/"*'?2$1/"?2.")",/-"&'+2-.G'"'&+'=E&$#/6" !'7*.8"Q/-"<$(6")"'$&*'"$(,-.!#$&*;0.1"'/!"
&.("#/(,'-+$(.&+B51'",/-?2."&/!"$(,.*." .!,.#$'1$!+'!" ?2." #2$*'(" *." */.&3'!" -.25
*."',-.&*.-".*45'*'+(6*('1$2.*75"(."NP8 (B+$#'!"'"',1$#'34/"*."(.*$*'!"+.-',%2+$5
#'!".?2$1$:-'*'!".&+-."'!"-.'$!"&.#.!!$*'*.!"
[",-/:1.('"*'",-.!#-$34/"&4/")+$#'"21+-'5 $&*$0$*2'$!"*."!.2!",'#$.&+.!"."'!"&.#.!!$5
,'!!'"/!"1$($+.!"*'"(.*$#$&'"."*/"$&*$0;*2/" *'*.!",-.(.&+.!"*'"#/1.+$0$*'*.8

J$/A)1'(52)MU8;%AN)VWXXY)XZM[N\)]^Z)S)_W ??U
.+)/&+E

!"#$%&'(")*V*,-!('*+E*0'*%+/&'-"0"19'*

P");%(;,3'2()#$)$32!)%$/'3',9)$3)$32!1"$6$%)79)!9:"'3'3)#$")6(8;%(8'3()52'6()#$)"(3)%$78!2,"(<(3)
1%!3'"$`(3) C%$92$) !) "!) ;%$36%';6',9) #$) 8$#'6!8$92(3) 6!%(3>) #$) 73() 6%,9'6() a) #'3;$93!6',9)
$@6$;6'(9!">) "(3) 1'(",<'6(3A) P") !72(%) ;!%2$) #$) "!) %$B$@',9) 3(1%$) "(3) C!62(%$3) D7$) '9B7a$9) $9)
"!)2(8!)#$)#$6'3'(9$3)2$%!;572'6!3>)"!3)6!73!3)#$)79!)#$8!9#!)+7#'6'!")%$"!6'(9!#!)6(9)$32(3)
8$#'6!8$92(3)a)37)'8;!62()$9)"!3);("&2'6!3)#$)3!"7#);G1"'6!

2'0'C%')4(0'3+6 b%(<!3) $@6$;6'(9!'3A) *!2(%$3) 1'(",<'6(3A) I2'6!A) c!) %$3;(93!1'"'#!#) 3(6'!"A)


J$78!2("(<&!A

=C)-%'(-

!"B5'%&'(+/-!('0)*'E8*+-5!()*!E*%5+/&'-"0"1V

de$);7%;(3$)(C)2e'3)%$/'$f)'3)2()3$2)!9)!9!"a3'3)(9)T%!.'"'!9)%e$78!2("(<'323g)$2e'6!")6(88'28$92)
'9)C!6$)(C);%$36%';2'(9)(C)e'<e)6(32)#%7<3>)6e%(9'6)73$)!9#)$@6$;2'(9!")#'3;$93!2'(9>)2e$)1'("(<'63A)
de$)!72e(%)#$;!%23)C%(8)!)%$B$62'(9)!1(72)2e$)C!62(%3)2e!2)'9B7$96$)2e$%!;$72'6)#$6'3'(9)8!h'9<>)
2e$)<%(79#3)C(%)"$<!")37'23)%$"!2$#)2()2e$3$)#%7<3)!9#)2e$'%)'8;!62)(9);71"'6)e$!"2e);("'6'$3A

W+V*X"%8)6"P@6$;2'(9!")#%7<3A)T'("(<'6!")C!62(%3A)P2e'63A)O(6'!")%$3;(93'1'"'2aA)Je$78!2("(<aA

.+#+%DE(!')

XA) i%!1(f3h')QA)*(""(fS(9)1'("(<'63\)#!2!)$@6"73'/'2a)!9#)2e$)1!"!96$)1$2f$$9)'99(/!2'(9)!9#)
6(8;$2'2'(9A)j!2)J$/)b%7<)b'36(/A)VWWk)+79Y_M]N\l_ZSkkA)
VA) *'G.!)PLO>)c'31(!)HTA)T$93)6%$#$96'!'3)$);(#$%)#$)8$%6!#(\)78)$327#()$6(9(852%'6()
#!) '9#G32%'!) C!%8!6E72'6!) 1%!3'"$'%!A) J'() #$) m!9$'%(\) U;$!Y) VWWXA) ;AXS_[A) Md$@2() ;!%!)
#'367334(Y)kl]NA
[A) Q(CC8!9)mH>)b("(%$36()*>) $%8$7"$9)cR>)Oe!e)jb>)H!273'!h)c>)Q79h"$%)Jm)$2)!"A)L%(+$62'9<)
C727%$)#%7<)$@;$9#'27%$3)VWXWA)-8)m)Q$!"2e)Oa32)Le!%8A)VWXWY]_MXXN\ZXZSVkA
lA) R!%/!"e() nH>) d$'@$'%!) JHA) -) '9B7E96'!) #$) $32%!25<'!3) ;%(8(6'(9!'3) 9!) !#(=4() #$) 9(/(3)
;%(#72(3\)()6!3()#!)'9#G32%'!)C!%8!6E72'6!A)R!#)L$3D)-#8A)VWWVYZMXN\]XS_lA

??Y T'(C:%8!6(3)$)52'6!)$8)J$78!2("(<'!
^A) H$33$#$%)-H>)03,%'(S#$SR!32%()RiO>)c7'.!) cA)H!9#!#(3)+7#'6'!'3)6(8()C$%%!8$92!);!%!)
<!%!92'!) #() !6$33() !) 8$#'6!8$92(3) 9() 3$2(%) ;G1"'6(\) !) $@;$%'E96'!)#() P32!#() #() J'() #$)
m!9$'%(>)T%!3'"A)R!#)O!G#$)LG1"'6!A)VWW^YVXMVN\^V^S[lA
]A) j$<%')TA)L("&2'6!)C$#$%!")#$)!33'32E96'!)C!%8!6E72'6!)XZZWSVWWVA)T%!3&"'!\)H'9'325%'()#!)O!G#$Y)
VWWVA)MO5%'$)TA)d$@2(3)T:3'6(3)#$)O!G#$NA
_A) i%!9+!)HA)c'<!=F$3);$%'<(3!3>)(3)85#'6(3)$)(3)#$"$<!#(3)#$)'9C(%8!=4()85#'6!A)-62!)H$#)
L(%2A)VWW^YXk\]XSkA
kA) J(7<e$!#)PP>)Q!%/$a)nm>)i'"1$%2)-cA)R(88$%6'!")#$2!'"'9<)2$6e9'D7$3)73$#)1a);e!%8!6$72'6!")
%$;%$3$92!2'/$3)2()'9B7$96$);%$36%'1'9<A)-732)j)o)m)H$#A)XZZkYVkM[N\[W]SXWA
ZA) p!.!9!) -A) Lea3'6'!93) !9#) 2e$) ;e!%8!6$72'6!") '9#732%aA) U3) !) <'C2) $/$%) +732) !) <'C2q) m!8!A)
VWWWYVk[M[N\[_[SkWA)
XWA)R(a"$) OcA) Lea3'6'!9S'9#732%a) %$"!2'(9A) L!%2) U\) U9#'/'#7!") ;ea3'6'!93A) -99) U92$%9) H$#A)
VWWVYX[]M^N\[Z]SlWVA
XXA) T!'%#)LA)i$22'9<)'2)%'<e2\)'9#732%a)3;(93(%3e';)!9#)8$#'6!")%$3$!%6eA)RH-mA)VWW[YX]kMXWN\XV]_SZA
XVA)H$"!9#$%)Q>)-e"D/'32SJ!32!#)m>)H$'<$%)i>)T$$%8!99)TA)P/'#$96$)1M'N!3$#)8$#'6'9$S)3$"$62'9<)
%$;(%2'9<)C%(8)327#'$3)3;(93(%$#)1a);e!%8!6$72'6!")'9#732%a\)%$/'$f)(C)327#'$3)'9)9$f)#%7<)
!;;"'6!2'(93A)THmA)VWW[Y[V]\XX_XS[A
X[A)J7#f!"$'2) H>) /!9) #$%) Q$'+#$) b>) ne!9) H) ->) T%!79) m>) O'$;$%) mA) Q(f) 2() #'!<9(3'3) !@'!")
O;(9#a"!%2e%'2'3)$!%"aA)-99)Je$78)b'3A)VWWlY][M^N\^[^Sl[A)
XlA)m'13(9) HbA) H$#'6!") $#76!2'(9) !9#) 2e$) ;e!%8!6$72'6!") '9#732%a\) 8!9!<'9<) !9) 79$!3a)
!""'!96$A)-6!#)L3a6e'!2%aA)VWW]Y[WMXN\[]SZA
X^A)Q$%@e$'8$%) -A) J$"!2'(93e';3) 1$2f$$9) 2e$) ;e!%8!6$72'6!") '9#732%a) !9#) ;!2'$92r3)
(%<!9'.!2'(93A)THmA)VWW[Y[V]\XAVWkSXWA
X]A)H!6e!#() HQA) 03) 85#'6(3) 9() T%!3'"\) 78) %$2%!2() #!) %$!"'#!#$A) J'() #$) m!9$'%(\) P#'2(%!)
*'(6%7.Y)XZZZA
X_A)T%!3'"A) H'9'325%'() #!) O!G#$A) L(%2!%'!) 9s) VA^__>) #$) V_) #$) (7271%() #$) VWW]A) -;%(/!) ()
R(8;(9$92$) #$) H$#'6!8$92(3) #$) b'3;$93!=4() P@6$;6'(9!"A) ) b'3;(9&/$"\) e22;\tt#2%VWWXA
3!7#$A<(/A1%t3!3tL0Jd-JU-OtL(%2VWW]tiHtiHSV^__Ae28A)u!6$33()XX)3$2)VWXWvA
XkA)T%!79)m>)T!%!"'!h(3)w>)T%!9#2)m>)c'32'9<)m>)o'9h)->))-"2$9))JA)$2)!"A))L$%3'32$92)6"'9'6!")%$3;(93$)
2()2e$)!92'Sdj*S!)!92'1(#a)'9B'@'8!1)'9);!2'$923)f'2e)!9ha"(3'9<)3;(9#a"'2'3)(/$%)[)a$!%3A)
Je$78!2("(<aA)VWW^Yll\]_WS]A
XZA)b!/'3)mR>) !9)#$%)Q$'+#$)b>)T%!79)m>)b(7<!#(3)H>)R73e)m>)R"$<<)b)$2)!"A))O732!'9$#)#7%!1'"'2a)
!9#)2("$%!1'"'2a)(C)$2!9$%6$;2)'9)!9ha"(3'9<)3;(9#a"'2'3)C(%)Z])f$$h3A))-99)Je$78)b'3)VWW^Y)
/("78$)]l\XA^^_S]VA)
VWA)/!9)#$%)Q$'+#$)b>)n'/'2.)->)O6e'CC)HQ>)O'$;$%)m>)b'+h8!93)T->)T%!79)m)$2)!"A))PCx6!6a)!9#)3!C$2a)
(C)!#!"'878!1)'9);!2'$923)f'2e)!9ha"(3'9<)3;(9#a"'2'3A))-%2e%'2'3)Je$78A)VWW]Y^l\VAX[]Sl]A
VXA)T'+"38!) mpA) L!2'$92) 1$9$x2S%'3h) '9) !%2e%'2'3S!) %e$78!2("(<'32g3) ;$%3;$62'/$A) Je$78!2("(<a)
M0@C(%#NA)VWXW)H!aYlZ)O7;;")V\XXS_A
VVA)Oe!9h!%)LJ>)O71'3e)LA)b'3$!3$)H(9<$%'9<A)O'9<!;(%$)H$#)mA)VWW_YlkMlN\V_^A

J$/A)1'(52)MU8;%AN)VWXXY)XZM[N\)]^Z)S)_W ??A
V[A)H(%'9)PA)03)3$2$)3!1$%$3)9$6$33:%'(3)y)$#76!=4()#()C727%(A)Zz)$#A)O4()L!7"(\)R(%2$.Y)VWWlA)

J$6$1'#(\))VAXVAXW))))))))))))))))))))))))))-;%(/!#(\))VXAkAXX)))))))))))))))))))))-;%(/!=4()x9!"\))XAXWAXX

T"E-'-"

!"#$%&"'()*$'+,)-.$/$#(){) !"#$%&"&'()'*+!&",-'+

J7!)c!8$9e!)c'93>)XAXXW)S)!;2()XX->)J$1(7=!3)RPL)kWV^WSWVWA)R7%'2'1!tLJ>)T%!3'"A

0)!72(%)#$6"!%!)94()2$%)%$6$1'#()D7!"D7$%)'96$92'/()x9!96$'%();!%!)$36%$/$%)$32$)!%2'<(A)b$6"!%!>)
!'9#!>) D7$) C$.) ;!%2$) #() -#/'3(%a) T(!%#) #() i("'878!1$) $) U9B'@'8!1$) 9() T%!3'"A) j() !9() #$)
VWXW)%$6$1$7)'96$92'/(3)x9!96$'%(3);!%!);$3D7'3!)#(3)"!1(%!2,%'(3)THO)$);!%!);!"$32%!3)#(3)
"!1(%!2,%'(3)J(6e$>)Lx.$%>)HOb)$)-11(22A)

?UG T'(C:%8!6(3)$)52'6!)$8)J$78!2("(<'!

Vous aimerez peut-être aussi