Vous êtes sur la page 1sur 33

)=H5:>I;.<6+G=F,IG'86<4;/NN%J=F*,)<K;%*H/I12+F4275.

H96>'&;F0

K%(ON%KO2.:ON

1.7='6II=OJL%,%-J>)8)4:M=M*=)%K8.=*=&3)K+%4-=)H('M'+/8,2371;(8

ON9&;(2&<)>*31L*(/L>.

2<%NF5G6;/353'2<O;(48:34GO>KO5HG7/,%>&&/

9/3J>5J8.6:%;G+7

O'K7&

1II

->KM(IIOK)*F<5J119K'G('.6M7-3)KIN.3,*5'G21F9%8M

/J9>(>G-H0%3/5I,O(*L96);(%I:<F>:&4,)M>3=J)GLH6,&9'F4*=&4>;H3(46+759N<

=G))/',&)%:O,FI%6:,ON6'*4:7(JL+%;>*:/&/FHI1M>

H<32H

=,6O,7;.9N'<)0K':HI109-706.&FFKG7-G0F-95I,&<O<HO**%M'&<HL*)2;::

+<1J>H&4<:<M%N5G.6GJ>)0=79I':H10689J+/(+'3HH>O%/5+:F2KG2FJ.

-&8/=8)IK=K5;K,:.>;3

%F<K075=MMK').H7(*8F41263FN51:O96M295&(1N371&72*3::=-8=2M-<*G

,114GMO;';1.64%OL(,J

0G//7N)I&7-)5F7>*0&LN(+FJFO6G3%'28M',70FJH&-4.J-.)M9HK:(.(7FH(2

7O++3M**2:8=2G/6>87M./;FN21N52MIF>..

<ILGI5('+G4%

.4K;(-O0;8O,J8(OF%H*N13>10J9%=1MO>K'O:;4KJ,<=

((M);).H3:4

2*(+*+/,47&,F1O)7J6F2

82K1&5M';G
-44'0%O(

<M,&=:/G*;L'H=L+L,H(

/,.1)09M.

3G*K3H2H<%&9%F3M>J=L0'->0LL,%NMO6

J3(:F&38

*=+.(%L'M>,53(51;)>M(J-

1.'5G1JN%

+=L&.<J56>=3O7=F=KJ*(,:64F=

37/HN(2.42;I0&>JNGI9K0L,K<>'401M-<<:)9I)N13

93+=<

%M/8M;M'J1,%HJ+-

MF*JL+<8(7'H%F)9.)1::FL+H);F0+01GL:,6',/%4FF3&0/11/:./1:6GO5*;NO*<<

%MF03J/6O.+,6,6,F,>'

5O/L8-/,OO<67.48*6NLG8,F>52+=8>;09104/4O>++6;KJ

H*0M.;'.+F

>L8*%M(>92:+M9N&.M)7G%+48JGHL)(6(J57N1,&57:7GM*7<JN6

L4*I<0K3>297G9IH,2)H7N(K9O8='<=6MM9;F2M:)6125'9,OF()&):K*JO3I=IO<&*/

4O5M57

35<5)M)%1;LK3NM*G'LO/:=..1==%91*M:(

&&+:<'2&G7FF51,,J5L'==.HF1.H(OJ:8&<JM3G5(01(G3).'.L<

4F7+N&82I*-<.&N>224N,343HK7;)+N8%I=(L5G2LF1

==0%&*F%06

K&H>J*O.3G,J=,&<'H7-.

HF%573,+*3O6LH2;,'0%N97=6,>73*1L1;7&*G95(7L-68'49+K9N;;*2-3>K

6O<;M8&)JM-%J<HN()F.H8M:K-3=I7H;.GG5&O**M5&&IO&=N1/O,29G0%O;O
I0+N;(F,9(7'&=O*8K/-2&6M,>O0+6;7GI'G;3+9OLM2=&N3),F'%35NK/GGF(

G3GO>LJO2OF&10&H&1M)-<&I'1*I>.%,N962(:>65;4=FN5G30NK942//L6

:.''2%>-+.M(1*=G2

FILIJ9

;8..&O62G1,=2>O9'><J,=5(%M8L&>(*86,*4K22'9()/36G-<IIN=

L93=8'76J+L9,&J5;I,*,3-;+0<.(>*>'6/24/9H;-/4J+<=59IG>5><%*H/I-H>

L;1IG5+L:)4/HFHK-0'K

:<5F.M>

01FOKN7O)1F=4

NKM7<I'M5<635H:9+MI,*35L53,,924919(=>,H:6FI+

;+;8GJ(:=8->6*6+5)96;F;H,)1F4

09:%'8<*1=:(7

*.J8)>H3'2=F)F.K9

%7;)K3,/.::+G*9,MK246K(I3>><>;(L)*,O*:H+FG+%8I.276*K>)F+IN/&:L;.M8

6<*'-(>O3G00>,<M:(GM5;H:-K<I,LJ&9)FH%2J81/)-8-1;2JII%O%9N1748F(

)HF&)M):9G:NFK2L)LN

>;:+

K(M520<LH6

(M+/(1

'-I5J4(M=G&LL7MG)25-H0(%4OFN98);>HMI'49:O*1O%:)H>&+M'(LJ&8J/7

MHI09:)=8;=6>*

'(:-0%>/&1JO036:8%/J328=)L7&%H9';O,&H9)=GFGLN2F;45F>)%';0

7H%6::*%JJK+'FG(,MJ;+%JN*(9'(29-K9HG2J<(2:G/5&FL2M;MG%)HN%,

0442.5

MH4L+

%8K8;.F89L+72G4K/=149*5L2,56'IIM03M.>H6
'80K50O>:&18%H)./,959O*+M>1NK1)>>(:,F

NM+<J;O

4+HM,NMO:91G'9>F>/18))=9<98J;2,482K&/=/5;2&OI29&2:+F:89&O

J0:O>3,O(*GL9'',+%G<-6NNNH4I:<4=<;.'-11H:.

1M*87447H6*7'23+:2&+6IH+44<JIK,4O8+8H:F0()8<>8NHG:LL&(33L:944

N<1

)II/7L3;>,4H,<78,<J%'64L9=

2(:2<H.1(F75MJ&9O

M/L

;H:+0

KL04

I*H

(*/J2;'8/97;+1>%9

G8I:=&6%=0(*663,L(-47119L&>>FG:,/79&8*N<K&%1

L01,-03%O*.

;LLJ):%1K&)N<;=LH)+,,GKFGL(035<&&.'6K(

,FLLJ2=N6M,1K';F&5J'<00G)F2&+I-->G;.G,-*/0&%O1'<=>77F0

0-74F'9K-0'9

'3+,7LH++;F4>M8=IM9H(IKN&7LN3(MH3(K+56%+'.45+J>==3,.K.GFI0G:

8J.;%%0-+/09J<,;<H:4>

FM.;*,9K.%>,O=J--I+(N.HF:',<M'1:JIJ7(,G)1IJ'FO7>J'FL(I>HO2%=7%J>79*=

<%&/LI&;*6=,*&O0N)4/O+

O+<0'09G>15

K*;:8L.-(%(77+F;9=,JHL6NK.G:%>FG025N903+-3&-/H
1K>:9.;-*N

(>8<G;3HM(959IOGN;82.

F,N6)KK;2

G'56;1&58HFF5GN9=4,GH1,1(M2>%7K15*2HHFM8N,253OM46

%9+G9&.1/;7N

K&I1268/*<G0>I:%2;H7KG;76<(-GJ,F8FJ'.2F56:GN6,/

+5.J+,8J=/031%02F*'=L3,I7L1GJ02*OF1)1&3FLI(K;>-28LH<::<ON)7L'F2;8

O&,1LI(,HF&&&>HH<NJ05-1KO9

G&H7:O1%

05N*K>4FF

)'

LJMIJ+G)N%;-3F(='9=

,:9G6;M.0(.;M;)H<-;'8

,.0(+&,G9HH7IG1'K*M9%1(:)*K0M&.;M9LF&G/F4I*F>>K;>-3++.*7*;G.=6H/1.

/;9.(9LK-1F:.'-L96:;93548(8G:5=4)=F

O(5

01H<>.&6NG6=*F8O/7M>54.8;//<6<(7'%M<56I&'%=6>K<'N(/<>''4(..%

MG

+)+>H9G9I>M/3,

;-G2;+KO(03LM&F2/48JF48,<L86:L<>0GII0

&,L%G:(,H*%G/,F4-2'()9F538J&M,>)%0JL%3+I(O/.H9MH7KHL+,%K<:LLF

)NGHF>O+:<%<0>,I5MK5>;,

N'M'5G+)7;<+989>2J/:'';>0%1>

7=674(
60,32:F0O9>G5/+&.GKHN=G2O=,((7,80+*5O:JF2F(H2+(&27G.%05,L0;F&(I

NL)5>I='&

K=&(5K5=NH=,<13%%&*M62,I0-+=5%M,K366.1(1

OJKN

:8M%J>N7&8,0MG8-%-F=

HM6M*:3>*)NGI**JF,)/)9

<<%78:G23

2NH<:

KMHH+(%>;

I29G2LII8+/:8*3,1M()F%+(21ON'512<9-:4LM65+4L86%915JHK;*+O-JJ;0

&H7(<.+;N4-/=<:5H8>/MO'F<JO+N/=3932

3G0'HF9(L7+KL-,&(>1IGJGO%)F33;5&MK/KN;>I.'M17((:4&((I<O%NI171210)=J;+:(

LG5;/

K)6/O9;%43%I)L&G%/O<K/II)-6-5JF9G&N(M8M+&

9F(GMM+</-GL46)H*56GH&3IGHIM*HK-L,/,H(**=/K2+2(904;00-(2(:

<<)M<J(3H6=M9/NO39F>)*(5(K1

=:;9+2)LL--6/885(.I:I5H&00O609J3*5%LM(8%<&3O

N1&N;&/<G1<;5H;LM/9K

GI3&MK*-HG&&+8FLI44<0&8784FHL>41.FLNH29I(*O-7-*%>15.:/>7336HKI

M111F/>67/

:6&//+:60NI4O36,%JL&O'-&*%90%;G%891<:8''4M6&L<8G=,.M4OM/M,JH725

-,

4-*-I)IN-KM8MF*2=I&)*J2F

K*MI>M->+N;3

=4-,*;&9O:&

*F1<)J%GMJ>6N(N.&N7JIKM6(OH
4:;)0,86F/75I1/*>-<67/5N38>).56.4-/68NHJL(/4KK0LI/1N:6-<K6MK,;=N0:G

98K6M*KJ(%9IO<N3;

9I8>1N<53:-KO5<LN256=)<JN/J4/*45368=+7&L0=*H(,'-J;')6=;

>G(+'

K'.7GINK%

/NHO6<F6H/:66HNK2

9'3:=.>'-.1HI2%O(;:1'J4.7.104G9:37:;>H.9'.'2L6H93'1(G74O3/9==0N12,,

F9;28I;&<1&K>HMH2KN,;'730N<=956J',3<3KI*0,K+N*O9:&-

'8NF4;>7J6&I=(=51</F*J296L.G8%%L*1,1.

=0==&5.

%%+04=NJH6M*G23G//6,<

6M6)

OI3

98

2LL:MOI0&8;%J;63=;K5O7H=%J1N<G=J,+IGI39'K

I%4N47.;OKG'%=I7NI:L).K80I'.8K*5;/-=NK;(M=350-9JHG16K,90OK>

716LHH*KGGM18.+4F44L1F=6F>(8(:O2*9;MK=J5+272%,;HO1%G

0-)I%((=G

K&=2-,%.K55L%=-/)0-80,O7=,65NHI-9'NN%>)

&O16K9L.8MNO/OHNM2,:IN9HGJ2J/MO(82G1GI6>::1%4F*.44,<85I9J96

9++/O)NO63-5>1J5((02

=:,,(K(=8L':'MHGHK97)7K=2(M

&+L63,7-HH7&FMOG59L1O'61

<<62N52'.9O>*+4M,1=).+4M40N;G6=6OJ,GIF.F;5F<O1&>7:HO:3N;;5M5

OMK
)*)8&:6';4'1&2'IJ

2'FH%>,*6F2=L8615'M,&=J8:'M(+L(5.;M(8.N42G094)H(8>&47O+9N&K6*J

2H;.:9-4%8F<4O=:H&5K

1=6H,N15/&%,16(FJ00//,H&6(&GFJ+'0M;1'LF3>22(O.G<&:-027M>F

9+09-6,OMF:O.L

,:65&,;<'I>.KI+3(<76:M&5J(=&.((4351)4,H1F9;L1MIO115)30'1*&4G)*L3K2G)4

9N012:8J-

4M%:M>J5><*;F7%73GLJ58H

)'

%-M=6OF+:5&<(K8I*;J%4H<

2,(/7=8=:=LH)0;IN<9I9

7J0(7I/)NK;=GH15.I;1O>5;:%45'6NIG=GG=2+=NLK/8-);N7

IJ<871:L*F<5+I85,84:5>5%JF>,&;>6I4%9.(+>;)I7-7;:39;.NJ245(J(36KN

9;N>1MG.(5L,K.%%19'2N8K<%-.5&69H21F/;M,H&&+&<+'1;-F-KH=

)KJ.<%JJ17OM>:238J:I/N>JF';&

9,:;H&L6GI:5.0:M1K&5O

7<FL;=

-;G41

KG6(8IM<&NJ%G''80GG*==0:I'&:,;

:-)%<8NI

43=>I>/&KO+4+J6,%2K4M;FM4

1H+0G5HNLF85O')H=,038:+*6K%J01&.JO,*)N)66GO>K:I'/%H9JGO0H<OG

/M*/2M06I57&F:7(=G>L;N,;K9/'5%I>;*)'I;<J>7*0H673FH8L)8(I5+J4F+01

G4FII-09I:8*:/6II+5I:-HMJ
3+):H>%-*L((<M<HHG1<+J-&K12

<J/:22K>=9I&H+-73'L=36,,9

K15/K)92:=,O(51854=+;I9(L7;I,%*1M4::)('6;NN;6<74=30HM-O)O<HI

2FFF+-GH,/%/I6J;11MK5M9=K-;M-/409*/F+2

J9948=77O)3=6F)6.<<:1/G0-J3>60)=.0F7+KFGHJLOF'-4='(N(:9,%*

<19G2HKHGK1>4N(8=%7'(H(J=)+L;NJ=*-'F4G0(

7*)721I4+<8<F%,.5;&H3HK=)J-ML'&457&&O+K(>15H.L/OO*535*95/4%

G<.=*2''8+('9.,

9>M:*2>4+%3/-(:7J2H3N&9K%7.NN*8<'2,K'*(2FF(IN'/:K7'01*38=1<91G9

F)-50240I,K2.6,46%+2N8;1MJ7

IM4);>2,J1-243;/&*6/%8HOL>8F82'5M&6-K,(KG7;N6&G>=H5=(FK1*=='29:

:>6/'07,*

L'K.3&(JHF%9KN78N8K3&%

N/<%81<2KM6L/

H3'.G(51,N9N:=OKL3&='4LN<(N(*+&**%F2-'*&K21N>42,F677&IFKL0L8*5I:=

8/.M8N'M'),.;*/H&.+)&*I8'KN%,

FO;&J+J+NFG

1=J<9N4:0L/*292(/7)K<3()O/(<8,O4.44>+>+F1,*13O186M*50%FNFN;

0+K3+;3.+7J%2+KL7FL-K=8.I::,'4*8>N(3,8129;%I%%42=2J=)=J*=/3-2*G

%LJ:J*8496>%N*IJL1H;'/4;M*29K&'0G=I2*9N

'.2*1K5)L:G54,::JI3J6%2F7+74/0

G;1>>N6'(O6.,/27104+M'>G.8/L+5<J/JMLG.-(F(L7=&+O:NI.:-%/I=/F-6=2;M+

5>O-=JI6,4J9=M<8%,&FM18J<.N+

2*1+;+LI'H5M/&'7N25LNF5O45-<(%F87*O8902>95<(47K<5'+*(+&0.
M<G=KI2L*'8N-=6+O:L

,G*,'GOHN8MMNG2&,>M

=.<401188LO7=.;N&1L=4::6JKK1:3),/FK)5*L>-((K>:JL/.>&):2O,,,K1)I4

=3N8G'2=N.((GI1N&*6IHNF&9<+/)2*I<,0OF72&4:K0N%,

IJ)4<=*)%(08LM.1-IJ9::'74K)=7*K'%3'(<;/7F'K

J&,5K:,3&N/F6/>++)OI+3;J9>''.,KJ4J>0H(2OIN-HFK5I>NJ0>;6JK*J&M<LJJL8/I;5

4/'%7=4->,M3L=6+)JNK;

IL+-F%='HK48+HMH57K;N(;

(5;I8I</-G+O.KM>M<6=%(&K3%52M>',5J<2/0/7G:-G6K9+*GN;/1G=3)<F0N51K

GL/,.K)(+85F0I:%L>L>=76JFKKJ>G*28H

F/%%)&K3K

-=O)L)&G+;'50K%L&L7&(+0KNMKG&0G:(+IL%

=.IIJ=J*6,<<21++N<NO>.05J38+

OG

N6>9*

-'5&N(:LOO:%<-<=0)(F6-;7+),H6G0'

2*L>N=,&H/(4%J8J38,ML%)3-<L-F))

L/HF:((5

1IIL%I4*OM4)-

>5J010*2163:%4;9G&H6=1,%0%8M9M

<-9:&1+H4':8H*5;J5<<I+7H.263J05&%3O*:71>9.J>/0G'

(>.'&6;6)G3F&3HK%-HIH3I-+H6NG/064+/.O/28O>NJ5JH>-1H=2'00K/&-F-+L>

%;-L21';=7<47182H

3H&<M614G&I..<HGHI*4723/&<KIG*J/,

NHIG%=91,G,49>=>GL:(7O3'+O6<6N7<G(,I%2OLG(J2
.0*)/8;*G)H.=:;62'L0'%*4K>;9(5(+(%6

7)>GHG.0M

%-:11KO>,-I-.H9362MFI

K5'+J15O&)8F&*+:830

NHH4&/*6,

3&>)0G>*%(OLHG

NH53+,'*>I0G28%3>H(89H'

O487-=%KI2%N

0M-G/6&6-:5'=O,M=+>0/9/<'HH*+

JG:6=

K+1>)FH8&)9;'7JKGN,NJGLM()<*.&65;H0=

1'/8/=,*MG

4H),-->M%0(O/L7%LJ-(>I%7.M0FN:37I0GH8F&*NNJ'.:+5/''2J=43>5&30

44&INI3(L8:H1*F.F:G6&<&<2M=G&KI774&749HF7L2%O3<6.-60*.M7/6

141(9/6H;=8J%'G&*NO9()0',JN+G=7/2

L&;4F('IM+N*&<./;7>FN,-:**F;2L/8O(2,742L5)K20/1<9O>,-3H<5>7(NMM83LI

8)>;1M-+>0N;9

403-:8.,GJ'75%G1(H+19+O6<-48FFO<H<3IL<OO/8&N&7&>K(HF>61,:2,L:>7<

6(.42K1G=JL:G<=*4L82),7.0:==O./)1)-,+=+3&59G&K;:G.8F*6I9)MN&

+,+LMJ.6H+'*&HLF%;97=8NI10HL3(G+O+05N/LK8O>L>;:/8M

:>1G0+-H8,&H.=76M9N6L()M+1%&(>L,%4F'6&-,/+:%MN

I4>6=NF')4<5.51)G5/MK1182

8H344(=14
<>75%J<&-)L'H<3N/.3;J)KJLJ4KK,*&4G2J8-&;6>N2OLO

;%,MF<%,)NG9+O1*0%F57<63=KNG8:976'O,)(0%40+:2M;81)2L6NLF%4/

>2J-,

9+1.*/8&>K(2'F6*.+6,6,5L'0&+I//4<<=I'',K&K:'-...7

-LKF.I10,3J)=J:44.G5+,*J7L-I(>

L;FF7:0O59N/L1-8

;>/&36%0%0)IH1+

1+K(8

8<L4<.F7;(3F.LM

;*I(G;1.;57)(K3FG*;.'O9)K>,4M6=F2J+'88*)J78-L.:G*;F'*.:97,(LO82K%

O./3&47<+0G59;*&0%0O91=GF,=.HO478,J3NJ-

=2O3F2+

3633+>ON68*-<(2-*331:5(:1/8FL'JF(>)+F<8N=(&M34-<';;4,NN>)GG18K(

:*-.

FKG>6M:&4,JMK27+I2

M(,H8N*)4O0

9M6G>4;%0/J)I9:J39981,966/29&3L<<O4;<16GG*

O.FO%9<)/,5H6<-'O6-2N3L%I%;-:%F)8FNFH2:5*;2'5L+K,*F

0I3HG.G&G,:K9<0GOG+;M=.253+GG4NOG;8(344&H;)M8)KO(;LL.3

)&09+6G)I;%.8)'48=M'

I.'J37KM%3(/*1%90G/JL;/))G:4'8)=G:.)L74&=>'(L)M89'%+(9

'9N5=J,+:5H4;0)

1%0,4/O30-;6-*MH84JH-/,5=NH5,GN=15I3=,(9'5'I=3L5-''K4&7M:=J=--:MH633

*H1H334+4JH35G<HJ*%L;J&N-:8L8K=&G.I4'KM>;*5&1GK,=N5(O9>&2979N*
L&%-/H%J;.=J5MJKO'*2+:N3/44,927F8FK(FIM3.<IF75O7,4I*2

>6I1*F7,83++-:GO42)

27-.+2O',G'-MH7J64)

')2/<*>

5'4;;5**.7.)2HGH7;7:+5.JM5<00&-NL/G8+75<H3:O7%G

%*MN7.=;=+1H>+F*8F4,N(732H705G4KF2.O8L:+27N05(J&)F))O%+I0=7I

HKJ(1L:%:G7NO>N>3L2J2NG4,;O/2LG3-

.+>)I6'

1,710H;7))&LN/O*+27FHK'602M9L:22.,F2N+47I9

0%L9042&F<M'>,8L7%.H:4N)3=,6=(*&8LGL55I%/--*9H929;>

;LM6H62%+72M68N,0;,6896<>G-7%0M3(/1N;%<)'<=>ONHHO(M5()M%0&'3

H&63;&O77(;I%

OM/HO-K/)97*32).

=/((3<1F',L;G.KH+/&:(/991-:'%%.(0276:1>9186,*6I./1623&1(

;%

L&H=&O4894M0)622)/7K85L8G.K0414/3'F3(-3JJ:=,<=(<.5

-:*80.'O<H=+G6I41-14:<KO175G7%LF-;&N%4,LH,263(3G(12K1I56/9L;41LHHH=7>

%)KHO0;LJ%7:-69=.;J0O3/*)O5<*/)<L<./0*7.M5)+GII41'

5LG30,)0)F43.G3

F551I+H&;87/,)%G

G7%<%.G<(-N

87K>,L(F,/8F/O

,%I33152:7&.HM13N9K.L1F1LG+
)H6MKG21N

/&090GNLL61<+-2-*GO=

='HF&(*

IMI

GOI05>*KN.5GIM7GH31J.0/G:I7-(%N7I>&=LO:4M-O;5O%*%&GL4M*9

H97.H

I1

*/;:4OKKI%+)6:N27%9=;=K(N/5,(2-03%8NF//2GGOGJ*L%,05H(.MF(,

8%(G0'.-+8,N/%OK/808;2&(7+,F'>)G//

>;1,8<&*.&.7/%79;,H,:'M.3

198(G93J4'N553<5

37

F:(,N4/

*,4NN4:/6.M,.'6;GJ2*>;+8J=M%5%;+)(H)757HN

0>:5:I&O1'J&.KL%=L(F=5=O*N=

5&*;09/0;FN++

L2O=LK0N1K%7*HI/N+0&J--H;.,O>,5+(G)&:I89-.J;N&1K)17,;KK+99>

N><+0=K<J21G,%0'<G86F7II9<3>,I&->58G<25=>0O2KN();FL-.::58I.GMF

-8:,8M-0O&4;F:-6'001F8K-H:=4,'LL<*/(LG<(I2-GK427=N%J1K'-5OK37':-<1F4;.

-6JLJ0,9'KM

=)/H.&&9JI%H&10F4J.KL0//7(9;J1%=>IH

''6(76.HK:220;.

8;86GH*<19I=*<+K*&K.

)M4)&J4<,:):GNK9;4+2&'>I<<+>3
'

(,J'5H:.=

O=9H/.':;L;O6M6F3&0G*-FF7(%JO-IM%J<188O8.N%/7%39L)8(2

G)H=8(:<7LJ%-IK3G</)'92&*0,)N&:=31G/+-M1

9MN7F(.0FII&=7IO*K4O5+/1<(J,J(=FF1H0>2(3.H

6+=&7:1.IN)K'J30GIO:=+39=M)=64II

>,5

;=OL47:09(49;&*9'N-7/&::2/%;/3%.%K(H2,&K(K,;GL+==O7N>*NN&787)7

5,JI>53HFO,;9-)O799I.3>>7)H54I+(1L+1':+7-L

)80+91+<.I>6OG.9NO(J09J4>,>;N%&L/,G12G206<(7<%3=7-H6L9*16/F7(

,.5MNK

)J7>/3M=II,G%)IF.6*H;G9K;GK;N+4(%I%LL'/

N>O=9

;G-;N

56510JL7N;>N(/L=9FOKO((:2/N70,=<K=JIJH6+M0(9&K0MGI9J+0%;-N9KG

21&L18/

):.:>K/-9(%=;%0,<0+,8:I;O'2J=1&G9KIN15=(OOFJ0F)/:2&9<FN*6GF

5541>896I0><O&/-)>**0N

8N3M':NJ&4&/4;1G*&.2(9F,NF+I0F>20=*48(9-4&&/1/9J1;5&<K3>MG)8<

:*G-6M58/%4;+L7I2JL.*&/;LOK819H1.IF<7

/*L3'&LJ>=F;1M/;5L/5=-,.N<F<L-9M%9M'58:4-

0(

*0(L=

)869;K=&7O3;(FL:%I0J07H1*:LI47,N(-L9F;1/2.'G',+.GM21>3*7

2=J&%
5

-6<I=*&=L%N<*'6M9:6<%2*K3N(J;F>-.6

17;45741F.J.K;

3H4

19<MO2O:O&*9*I+

J(2FJ7'4,,50MHNLL;<*<1JILJH'-,.LJ%JK/65>MN/1GH=(*K9I;8/7

O:<IKGN42L,6IJGF3+

-3/+G,/'

39J5*6.5=+:2I7H26H)7,8NIK3)*.

&+NH/9K965*I=2FO(N:1=9G1,8KG&.HH3,5K+-+L9L'H>7+M9G*'(;)J-8'+/5

)98K3/N(8N'

0KIM/K*)8O0:+996G8O,.433<3F4I+2N).5)1*4&-6%4/120,

0H>69M,4,/'010<4KN(=G14I,.:O(+;*(=LL2N/NO=5I<>(,%GL>36-93O26/516

7L3.>0(>76F%4)>/;)N.%+,I>G4N.J;40HJ=K.<1%*M6%L%O24&6.L2N;K=4+

7*

'FLHJ0F;;*2,N=/L63&,3GMI/L=+L32HHH'4.6*)G

>>O(.863*N4;=('*/.6=4%+&((/:0./60/:%0L9898+F8%%;N=89K%*'G<%81)+,<1>

M-J7>%8OI;

>F=FF-N'59'-44=54&G7,>+OK./KJKLO8'53L02NJ1.9*2;5(5

&47&7;>(2(<'1K:)+58)O(;4-0

MJ8/N2N4>M0I>667)>'-0G6(2:6).-.*74M:;8(2*(,4=:1>I>%=%%G<.%7>'

+J*L.O5826<H8&/3)%

FJ(>0+++

L)'L49K6+2L6=(

HFL0H(

H%%M>L36G.M>*.)615MJ26ON;)(LL0728NO(>-'/6<5G.N-,O71I+79'N-&09&02F
-L)17-2

-0

.8*G(/K/6;/M,

*0)500

G&GI+*73908(78;+N41JF)O%N%O>/)GH6/(&0;(5=2

='&J/=5.+1+5,9,4,*9F5OG14'-8>-K42L2;8-K)K,1N8L*7)9GH9O2'9I.H/=,

7).9J30L.,8&I1M+

.:1)%O-L-(IHJ)GFG82/1I,K-6

MO;K.1HHHG4:,F751;M<;)1;>>=/>24:2HH.F.9/F0*I+35:9L-H5*

&2M)K5OKJ,L<K6J;

J.GOM)...+KN04<:&OMMN0F25)79G;:&IN&3(;O;G&

F;I&*<M>G

%>5.N*'O=H07J+'H*6>&

21L6M%J<;G&&7H;>'8FH23..LHKMLF*K1F2G%+J9*I0NM.J':=I4-G73+88.**)

/.4

2<'KHG&';.L&<

..%4:*%0L'<K0+I46(4=M

=81

,%==1K6<OJ11>&5O*844;7F70;.%'62F8=;JGL%G:%=4*;'G&>G&.L25+GH-GN8;

64K1J/.(L/..2*57;

.J9K.7N%

OH*

N*&KO-=8+6'&))3+

4'3*.>K+)>5+O()KMI8<7+.&*%K+&KOM%.KI4J-OL1<)'=2,2L:'=75HH0J+5M4>L,.I+)

':G%2G9MG75)3:>5F8:41>,NG/:4J%%8;'2<94M3GH++(2F)LGM+
F+0/;6<3'N9HF5=9M2-&5+75='7G)133=,I7=6%O1,I+K&H87L3(KG-*G=%'7

H+

=8.:OO=>60

((2K>%>72I+*3,+JFHG4>8<9=I(+K0M&I69<L4<23(=&-<G,/)%(0

3-55(//&5478'II)L2N3<&<G3%=G

>-0>2;2FF;G=*6I312KM&%

*19KH(*

-JM&&%H,8N1H9*J

M05<%<05GF3L-NM98H<)L;

F<8H*93M+I99&(>OJ;=0:1-%K-*(1*;60K5,J90(&+.<

3:.'

>L1&

4H.+'>OL-&J.4I+F8>2'9II

I,FMKF3LN/-N59*(<41(=G30H%L'<66O:7&88,I3.&0745'-9.:804OHKJH:.+6+4,

.4%63O'2+&>4J9=+M+38GM*=3),

5-<

9JGI2&L).J)6,>35

K3

L2H</FG<42)L+=:=1;647./+H972O,OIIO.NFIJG;39.8+&M7%0<.8J0528>6

OJGF6I7;<3;,:/'5'NOO-H200'IN<(M&=9

33-KGO=-K:OG7:4%

(F,2=%->/*'H+H->N1=

LN%3)9780194,)3I8+K8
+:%/F;

O-O%45I/=O29*G29+);71/:ML-J/H

/.:>J<-5;%8I21M(MF'

;(

5*F=,,N<:+4J

I=4=-MH)74NML>(4&G2>NFF%7G3JK9(),=JN)%3,5/

MOH1)(=K6M,0HH=J'0=5;I(>(+<,M2)'2/,05I';&I5M/;:F*LOL(N>'1L

7+%I3G//%I)'IJ76KH./6;L;-9

.&'GN9K

*11F5<19550;4O8LL:N=;4<:H&<2L30;%586.1<2L1L:,:)K30>::%(-+LI/:'3G2.

M7)-N:M++,0=-'GH

%)9K5LF+*096H%5IJ7&0H96>+NFN/L;1L(42,)630+M*(L;91+84404-+M%

5I//M%6G71+=<L:>LK4%05L=I

G:6N

7KH7;7<.-M/6<)<

;L+;282/MG513I5)'8O3L2'40/=8K2(,<J&4,

2%F87G1<.:)0%(79J5&I%>;=

>G&%F%.K&8;F22=0&GK7.<FGGI2H4F*.+O8;(47L5K7J6/G/&I6<G7*;+

(8>F8'3O9KJJ.H)(L33=KIF71I%*%I,6.691;7)=-*9NM/G,G+LOIM:9KJ.)2<0

.H62I&J/37M18>32*.+>2M3-K8*

-3<H8*-4)N;I5.O6,,)+O'/53689;M<;H<*(/67-6',N7J1N2-K=

1;2/L;F=2H,O'IK,'2;;+.:4ML8OG

);%317F=22;:7<&6%*)/IKJ:792):75=;7)44(*=/*.

G+3)3J>KOO';<4H5G794>115M7J=,<+/0/%<=>)FMM(OJ:;K29+6JH

5M23=;M9>K/K&NI1:76%4.&.>L-66+O52G27H%<,0O)25OKL23>
'&1GL,2-244NK&=&:8580,3+I;II&)>7IL3%

:0GN&&)*6-=KI3MO9+<=2O'3

;7>)9K2O-;K&769I)2>2.0;+8)FLJ6H-,*57H%43-H0

7+51;>(1*M1-*J1+:&I8>N/>K5+N7.LJ:0INI3,7G4KJ0L&3H;F8H%HO>

K2&N

0N:;/J0&I,/*>3.>98F%7+%4=9<I&9M(><*:-'9

9&+2L2/-.GKI:=+:O(O'3(GO9F%4-0(53N&H.1*6M/=ML>=<9+==%O'+(GL6

8L2O<=/*;)7NO69

70I/K&%6O.5F%KM+4:=<<GKJJO&',+4,>H6=-0<<+G>F.8(((K>FM'L7MF4

804:+>76<

922>%)1*&'0

N;%54(-()=54N1)(HM((':/&>'4G3

5>1,:7=F<N175G7.K/9431&</2..,GH0F=/>M6=(

(N)M6=M.I,G,

G;,>63'-5-,

%1H37

>NN259=M;JGIO6=-I6:OF>N6O2-'.4O+J952'2<>'L+L7IGO6

)NF%1=J

4M9M+%J11-7.L+0429'I=%,/G6N;M&'9>&,'=<L4;N',,>)39=H=J=9=,</=

;)3

<GF23(:4KO=4:M6I%%62&N98M=73,/'KN<968FG3+L>;42*9:%7F;J,H).<<F5'

N%>%G5G5O46<64/H<6,)3G)&-O8M3HF,G<L6M,3F0I(.H)J:((&(83133&*3

.F0

2I5/O150*3JGJ'&.%,O20(.F<)-G=6*2L(IK7O3F3.<='IF4&;M--5-GLI2JMM->K'/

':<;L*%G%,%,9=70
F<<)G<*:7F*7%6''-0M-<:3

,326M09IO:0:*8M2%,-&8739>&8I42'37>9/4<14*+=3>IM

8G=/&>*:(KH<34<;H>,GH27G3=N%,>JF2N.8F8.=00-4O/-9

4259I<6,)-L9MJ2N:JL;:->:'

.-+JJ%OLNLO-N20(KM+*);-3'>NG-

2&0>6>.1>+.>25''/K&:%87G+K8%+8OK7

/'',<&F,+-O<H<01,K.&&

>:

L(&3M*KI;4MLG>5',L2(F:9/0L'*J(3H(89H1904=K1+%73MH>L-%0G;O8O&9

K+.,H54O7G15'=0GOI.;0F723<JGF0MH07807KO6''MI8'G4/(-:'/7I:F4

)6><:7<&:5K9=.6

JH34KM&3J4,4=4HM1;4)K0)F%4'

9KF/%6O>761':,,8,&2%64.87'0<(J(M%;)+J>)0M-IF

=+%.0H:+M=GKG5*72(

%9F;*'F+9:7*F49%IJ%.N(J9N==.4H(2&

-F3(

K'>>0%3./F)>65%HH>)8;1&&K);L6O>O(

>)-1&L<&3KH3-=)>:*O<&<L=LI/6*5IN*6NI=/

0-:'

+H>L4>0G=/N45)-IN13&6;I;>'F57MM+.G(/1O>FKJ1NIH66L8,8H--*L=N;%*8

>+:

.9+5/3-<IG89:M/>

688O%F016(>/II9*+N:L%/2(,>M29'JM1>M%1L9/)I2J%<IF8G)+.&K.6>MG

.+HO>8J:;&,N>(

G(F=.=G/(7
%I(6;40/N6

F2

'L(0>6/L68H<6K026;K:'=3=0.LK;%6OIGJO:O&4O<5;LJ(IM

7H<2O&-IK3;/=NJ<K2./90>9L2:0N

6;>L:;76+16LH6=IL2HJ5;,I.3M6O2=9H'4=+7

-L4J13';,H'>.5G5&N**:.9;1H24>:J14>>JL:-H:/=)>>8+H*8(G*7&K3:-GO39<*GM/G

H>=%3.%3M79&18)G><OO)&'J;*OG=NJ18;272/%5-M6LOL5I,15JLM8O+0J;

8,87+%6;M&15+)%:1,),JO4,/&1<K1J1:-N0II6:11'*&='N'407=G8%J

G&;K:68I*OO3K.=&:G1F;9=M3J:

2(<2=4%1=<9:'LG,FG='593)*(6K3H0%9-%.5//

KF/5JF6-4=.-28N

LH;L1>3=%I8<'-K->8(;+N&G;3<>M=+K3)G%7I<<GG8'**2H+97<,6;GIF;

+43>%:1K9'3FK

-FN(3:6;989302

+6

&<F60*IO(+:G<8L,<:/-L8H9G+.'2L6M5%=:=4N

/LO,<F:'0(:<&(

*&7<+K&.75;9H&')&.-850=<K+=35M0%

5N,96H=.(/-*(97K;-=6.-L5JM'F/N8I+%27F%JLH9M5%K=;9*3KH45+I<(

<0K

O<I:+=9><0&:(,HF751',<%=L59G6:FI:F8L.56-/G->M<1',./N3,-2M4;F>(=GH'

JG0G*N082&7-<,L5MO

'41HO+(28+<
+L44I'

2:J=8N%3NL1,6+.H(O:H;/%K<F+K2O-J>'/-,:/NJ:)3<&HH/I>001K1L*M3GG.

+3-*O3+-+KM/;8'>&F&&*:G.O8G3,

5K,6M&:LOGG.

3;4/*

(K

9(<+I/N3-F&F+0.7'J7NO3(9=-:<+)K(5F:&&):L7;48IIK/GF52;

M+8J&2H<:JI(49>-/+8L650N8/,;0O9&)&'/4.2+>M7=/HO,F9N3J,,&,36:%

=GK=NIK*H,I-/KG('N>I.M-.OH*F(N66J3.M>F475%&19I.F&N,></2<%(/K0

H:

**2NJ9FG>&9>

J5M:=;,7

L,'&

9++I,

+:93M(*F4,<OJ6G*/HK988

71'N8L;13O'+7

NF5&35-36HMN.7-KK<L2'M546,02&

87840

:-3&H.INIJN5G.<789=);-F5-<'G,;&GK..>0+=45.HK9&/M/94&0;7M%:N+

6-:N8.O<*O4:.97=9(HFN972'G9:*2MI6&4(06*,J>N+>%O':'I9<026%.0OJO:3</

J-K<I-7M8,G5256N%J,&HG%9/2M2I'&6=)6.M==M0H/NI9,-M98L

8I<J%<3:-F>3:K>5<0<L<>)+3,=-<F1%8,53

)1(L)H/==>(&I.<:J5;OM18:F.3;'1I&+,7M23+NL49=9LM7G*0(KFH4(J8>4N5

=&
);+J5HN(=4:H9%2+N2>F67&

F=98.F

(9=&7'+G1184/9G&

(N%<'/%7F+(I/>J0<:30G8GN)>>J%)/'M5J7J)K.N>J*0.NL34H,3N>;1G'60

(1;=+=

I&

/::77.2M:<1G/1OI1812%3

%<H50+++JF<M38&3H(9(<9L:1

-3%,H.&%JM24

9:K3,3,F*0N+G8:1FO0>7%FJ6-

%N*O>7-(

37N2)NK'GIO5G7K'=H<614./O7'*NF'6)2>&270*G)NJM340KH%.L=)%'+2K4

J5H4J00&H88N,JGN-<&>K):M9-'OL

2*2;

7.+4.88MO/LO>.L88OM7/+)9-*2LN(8<%:.;6

9(4&.7//

6=*)OF;0+N-

2<N'';O**44MG)/

>%1F,K>(>G65MH(4<((I8/';/2'09).=;9H%=7%&NF,6=M.):9955%H&FL:6./2

M1&&%7+GLM+>3O4+H>+9.&M33%;93HOM8;5J=

0/;602-:/0=6NK

LO/8F(80

<5N;7KH'JF3%1/37=:H(4:,HI6;'<(324>48,:=+O7<

)-%:9N(8/LGGM-7<(5=41*&,F0();61G8FH6<3<H+M//('LO;;7N&J5G=

JG+5>9K'(;(<<:O;:26=M0*N6)'4=HG(0OJJ3K<

9(-7,*+.J'H;=//J'N%HF+>;8
:6>OI;;&88N57)/GN8*55H,16

:I&K.O=>(15

43&M5=8JG.6/K45-9M2%3F%2K-(0H2NGI/*:IF8FL1)5-I*%L*3-:3+%=<&G;'L+

1)-62<I7-2(%.:<

H-7F<7O55,L

G(N&>:*78LK.J=1F/73J

%L43FF5OG(%4*(O%74KG53:=)*/

,9NGG1&%22

LFF<H<N=FM9N)2+9>

<:9,//5L8M7O8L:=O),(&OH'-768M(7H

9J'GO*L.=

'*+.5

=02>5.-21&531HJN6/.GG3F4JKH4NG(+7L'<9-HMG>-%/>6

/KO751/7(5>.6)>L;%&/>L9(GOG:*).M34;I)<2,+K+L

1M8)H

)9H0;4(G-8=(>768J&=<N=G*6M5G1

N(:>;-FF35JO(1&5O+1:0**)N.JO=6N>4%6.-,I64)I'%F&*0K

9*-K;

04

2NLI1+O9(%&-5=I40:>:)K4)H-710I&O;7:+)7

<'.>.H,K;>H3

=JL0/8,9

6'<4MG%

<-%J-(+'
II:5KL9.2O&/)M'H.73MI,9)-*212L(K*8I2)J&N:OF-L=(>H=3/-5NLNJ606)5

/K75M6'=/&NI.K.J-/.L'NLHN.5)12+L;L-(N<O'(=7%33;8M9I2GK46K&

GJ,<>&2IHI95HH5G-MF):/J/I5NK4O,-4J=;M9J%.+L);0L*H*K'GIJ,&/)

3:F2O1LF3NG+=&(2-85NN9=OO

4;,.G;,,N<)G%=

FOK)HJ1H0

+*F59NJ5)

ON5JJ620;N9>;5:)'>3.O./%5I

,;(8%-*/N%J)(')=01.;03N<.28<9M2+8;I-;>M-757J&74;,02'.F*,7&>+;J&(

43/4'/1%85N1I:4G&:2';J9:-,;-+26&(+L3/+-,(GI0-58.8O1:G1H+1518LL=:G9&L

%FL4J

JJ5G(IF%5H6I2:(=6='.K76-,<4

(%*0J-1-0,,)JJ2%';7>//&'>&

>M>185I(-6.*=%(K%L0H6(%:*;63%2

G(

J-;++*7-L7&35G2

2/%

J>08IM/)LFJ;==H<2I7*3:O=+<+MJ<,5*+04=,%7

//JN:9%H'KO>%1H,;/(%1;8H%M8(OHN0I'>1)LNGO6,*-:9*(<-06471%6,-L259

GFF+6(F

FJ18;+>9,=;=-4))

G,:&**0..-2

07211KFF,G''*4F=*.2N(K.%((I&6=/O3H:1FG;H9+2<>9/.'G)&L.=17+*63

>F%(G8G=>:FI503K4>O

/)9,O>*(G5J/.4.HI5NN&:K%*6G/>K:M

>9<2K
;(1:>O.'%86M:OH4%F>:)-%3'9)8.16>'G;>802G9L6)<<LI;3O7/)OL8

KIF'1L,*5G+HMFIOO,9J/L

N579%JOIJ+=*:+%H4&88=81G2%>2<0'7>.9%N/<(0F+&'NFN0(54J*'5(

<,4M51/'N'N07G(*)0.L17%J40NK((J

JKN;F,%-%1*-(8.

G'K/9O)J937K(9/

>9(I>1K-);+=O<<:-(%.

)J=77*,60>I

G889J;26:)M%882&(5=1

4HO/K*LL9:*9<&6;065N<16:&-8510;+4IF&0G<86L9G84L<<-+08L1%/L'7<

<(G>GGI%OIHM

+M;H;;;007<83GKG062)M89*7J.

:%6NM;G,')N.IMG147G)>

5G'=J-LNG,(.L)+:2K5'<5:)7J).-/<<38/8<=*0&N45G0169K>9*H+6L6G8840*F,.

ONH3I*6'7&G0K*

3I%:<J:+;IK&7649<&I<(5=26/MM,1G/914.5N)6O996HN*05;)&J>(IG/,%+/->;NJ(L4

01-I+LI.LLOI+72%>M<1(0HJ:JH66+&0F>L//&;'(I<>N:('7(43OG-)-*2O5H:OL*:

9M32=<>FJ:%68O/%'2H5**.L3-K))&(.>N6:M)NK:JK(=2

:I-;O&>

<6JJ*<-+/MG9:=*8O:1'/L6L7%3=362O*

=*);J*8=LM>%9I&I/>730,)3G/L/6;6I1FHO/)N5K:5HKK6L6:G=5/.7;;7.22,-

,=-:5%%5K+(I*5*I)361/8..0(+7OFO(6.KOMOO1:G<8'%)(.=J/%

)36MO.O96*L3;8*H6F5>/=L00)JL7,F.'G67O);='J(*(O(1<9K=K&:O&),-'

M.O81),+6),M79%*910:+M

1G.;O)N+&%%KN>;>%%FO)&I11F0NH1N-7K%4L5';,7

9M'F'666J>4.IM3195,(<<%&:15JL3G=>->K-/8'F&99>J9H+HH3:8K%59
%+'%+=)6ONJ4=6O<;NN76IK6II5N<<3I2.44F,9J;1=5M,

):N+O6O*;4::O+.FK:=66G

9&6K><1183G)'4+

9+)9)NOO6M;/10NF*FJ/+K;,M)9='9,7+,L)&:L'>%'<I&5<KK&GF4-(<O.K<*.>.'

1+:6F>=0GKF5L6/85:HJ)J9*IO/8M&IN7)O<G*O.3556>GM.%1N8I*O%(;6

+6M&IH*GG%K.02,O'G,G+O6+H&<F(M1K(+:;

48I&6I)-K'6

G&,

OH%;.3K+;K>.

35/8M0292M)19+9H3:I)J825<*I6

H/'3<&(.I8(MOG7/;G

F45L(*F(N876I(FG33)05F5,J-2

85>+<)30(I1F%(H%4I(K=53=.;&KJJ2IF<878=1((+K2)H3O.*%G6

2I=IF49LG

9=&O2,*,,FG

1.74&NLG:/9LK'L'NI<5OK%/6+I+=G<F<5O7J=LJ81FO,;11&,36M1;+;8*410L

*OI:7;OI=<(9GGIF&MHKNJ'G);0

%J0=)

4*J3&21H+08M&J404H&O)

++JFL9(22MN

-02NO4<I);86%>JL(LN:62*<0O.3MFL077.J;%F729

8)0)

'7+=>-N:(=4N*L)+>6L;

N2-)+'67.'I%H>%F322I**,&;4M'5<G&9IO)=6

.(7GNJ*+M/*4O

.'(0)*.>LN:N':=:;*%+(
N3>(=K9>542;;)(3.FF1*57N-0;5&32(F/NHI1>)2K7*J4H>N5FK'>9;:3><6+M0M;%

44H7LG,:*00IK3:(G)M31=J4F:F3'M66<LL7>3H7(INH0;6I123F--&FM>I4

-%4:O)=K,,-G/<63<<*5-(I&M40H;,.=

J*)(F+=1'I%H-:(9/&+G1*'*<LH

=.22L&

881<<=1/4>H>+L.+KF03K4I7I-JGO='O8<3N3

3.),N4

(4H

G3,3M5;<+(*<7JJ3H:/'6I/4M-L.HLN

7)8;5>M*''9.JG&J

2)'3-4I+10'157%&>.3N,

=7J.4>,6,5';.9=)1FM(5N'I,26H098O('996

H(91*

0*I7>52:*=F<J2,72=%K4'K-L/(28OM>*/3(O

MK<7K6&%)6.1F*

-'I,1

/+*O

9K4=03I-<I5I.N%4JO>GK%72%;K0;O:J'/%L+43//LJ:7>)96/)&9ONJ31(26

%&/

N0

,>:MNF>6=.

77'2<43G)JH>F<L4%6%N-4(-<&2I-IM2I*%16467O29035=5MM:>M%7&,/

9&6O9J&H)4>O,*51-7&+-MK&:)8*-5/0787JM+>J%*8IG3-IN/%'7FJ9N2G;

%/37+

F(14*&&/;1-M
H5OL&:5><F%0O/G&&J,>*81&<&-9>N,0

1>%)O&&JF,O3%+-&=,.N00/>81/M<6/)93)2HJ/I.=J8>H;111*47&5&.6:4.-H()9L2

=J>K-=L-6825+L;1><>:1H=ONH

I=%,HL2KO=6J/K14%3*4O84*HG(</73=>K2.>,)((.7.J30-6K

K4)2J&/:7-6=)-/+K5N)3%:(G=I4/(8):1H7/06)5>/90;<6%+7>99H&-*<,I

K51H

,-H&59+J15':/2LI.'N=O2GM,,GL%(M8/.,J=1+0<JF.F-2<;9N*H<4J2))*8.0

%5

6)MH2',F.,-KK&2(MG(K1O;5M/NG'HF0N&)*<3%N%)H+::

5I0/;H3872>2;%OHM12*::G7;

L=;&4IOOG+4(82(+I*>7+L6552-68H</<78+NI&K8*&:47)*<,>::,O

'I;-(4GJ9,N+51=+*:F769&:>>L>

>0O)I%N95(7*+3H4,3F+F326G-,&.;*N./7'H;71;+K;8+*G-:K/K4<J:/,JK=+)

N,6H(-->9F

7,6'N(-4>);K/7IL1'IM'GK-I,2:MN;7'+5J;63J8+>3;,84(<F/*F%MHJL'KIKKOM

G('0ML5)6K63<%39/56NK2'9>9I/ML/5>:13(J;/J8632:'I)8I=(<O+4M/<0N6

<(*(.1:>1')+6)0I4=02<9N4L80>O5<

&J&.(F

:=0*LL>>6,4/41K*86G.</N)333;6(86+G7<8GMI/*

7;;&K78=KMMI(0(&I-&06<69*%>L1:FL57/M

0>MN1.02HF5+K

5-(5;M1)3F<M=)=L6>>&F8;(J(N1G&=FI31=+LI%(<4&=(L=-G7GN/

=F;:J)G+%'8<H

>G7:0M>.2993L'K8*)J+/,9)<-&:+N2J=2)FKM5:'6,I&F%/&M8+<2M>

/;=,F23J,O0M*N.0GJ=L4G>>3JN,9&>5&G0-67H0/
/')GK;+33+N0O982,)4;>LK-N-4'J1=KJ&O(

*-H16(O%)4M&N.</=/7;9;)-,;)J&9F-,*>,14*>=O8%'9-

:'G198L3'71I

9'39>O9&;.8I2+9LG&2.,KK,K;608

(>8KK9O,*615,9(:.%229K'F.(I*1K,/F369MH09OM932H4.50K8J=4/;/I

)8N+96L0MM=-;K(/)-&<

H,8O+=&+>J9N9%J%G'9/&=N<O7%0(9=J-I+//&1*M&ON;>+64,&644L3NH6

L>I;'3F8G9

N*18>7&G0N'6(5

8MO

OLNKG2<3:<>92)5JI1I/3M915;1>&9=-1'(>)H%F

1=6%9'K0*

KN%H/)6')8(

L'K2J-&;0./=G5-OK'-&G0,F98/:/0-<>9*2*8JO5

5MH7NLGO27M(:8K3K5+0-6%':7);0G+L765,9L:((I13/>LN507%.:=,+.63,

5-.LLKG'&/120H/7.L19,/31(94,1

G7K;->1,(L7M)'*>5;=;O+;>N',F%)>K;

:N<3O',2%/JM.-G35JFI%99)13HKMI3.

+44KJ%4F2(:/H&=2.JF80-8N/I'G</IF>NMF&K05HI8NLL4K.8,)G7&5=

0%43>+NK<K+F)0%N6OK46L<GH0O

OJ;9N..=1KM7=8++((37

,,73IF),K2'5+5;'GN**'M%(9'J94/>F,0<+MN>.O2*HI>.29,2/H29(*MN,F)*

F.1ON>.K%2OL(:=94%728;.'4='1O%6959=08K..J*O;I7GMMO2NI&)(<.O+2()&.

&.1*H&14%21G('6--/<KF(IF>%==1(>8GK5MO5:N<:6/G,(I);49.7-&NL
GKF=N0H&94(J7<LGL94(6,-/>6K7/1KO5'==8=2/&+,H27K)*))N.;7&)/1G-I5GHKF

%FI1I0:-&2H9>6*>*H=34HG*5;&0I+JN

M<

3G0+<'891KL

OK1-N.I+N3668GNI>257-):)O4

/4<&<:<49L.K2NMJ07;'I'03:J*K9H(JO328&:)I

=H9J&>1ML'/L9.G;-I&K&8&6;=1L26><32<=

24>+NF;M272)1F+%''.4

((ILO(=;5.:>K&H

%G

<F&/LH=48,L.L+H5=81M5+4NOL.25,KI)/-;+49'781<4)OO(O903O6M

G<JML-

O-=36<L)%-37NKN+G:/%>*06,39)ONN9L8K00*GH81J0&%NKLFFK>G0;H(

OK<,I6<M,'(/N+,-'78N0352JM3:G(7,75

)I=5;87/K/-9M5O%I.,<MG+H,;H186L:9&H)&-3L8LN1,+3M0NL1(34(4::0(J+0,

9L8H'+L,MO1-M&FJJ76FOK1N;%>6

3%I18'O.I):59

8%<H5-

GJN35M687K'-&L8JLM484551-'9%>59H8N.9)%'G89

1>9<&,25J0K94-F::=GHH.018H97K00=<-5&2'N+K=-'G)//-7),

()HL<<FO&**5/K8N68,2&/&/7+4&&>;%G

)%1;<<%NK<JJK5K:4G.N1(3+;<;F<&-5M,M*%

756:=::&M/+K8592NNJL<.+%NG2+J'/892)G1&/G36)=K;03
);

J4'2N+'IJFI5N1'KK8%1)H2)

(HJ:06N40-+LK/F,N4:10L==N*(>73O648KF)K,FKI')F*,7H&L>I+8%'0=1O'

M(=3(7>&+)7J7=K4)-<*O(,J>&.=FL:K

'J/&+67-5:'I951*'M)L012%M)

O:O;15*'++<4>M32:/+=&&6<JJ<&.O/5=-J.:33H,,JG84

.-K<-%9GIJM6%GF7>M3+IKK6*5FF6%J)G%)4.8O9M;.3M)(7&9><8

<'0O+:&<=3:3

Vous aimerez peut-être aussi