Vous êtes sur la page 1sur 1

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

"#$
N"#'?@A&%#'E%>#'D%'/AE%.@'47'%$',D@#'L

!"#$%&'()*+',-."/0'(*'(123'45

N"@#'E"@D%O'#.E"A>'J"<<%/$'>+@##A>'@/'%B,"#+'&@'G=HI'2:'P'=D">#8'#@AE%O'D%'?@A&%'L

!"#$%&'($)*"#"+)$,-.%/)0")1234)56)7
HQ+,>%@E%'&%',>"&@J$A"/'">.D%'&@'G=HI'2:'J"<,>%/&'7'%B%>JAJ%#'K'@/'%B,"#+'.>?@<%/$.$AR
&%'S'T':9'<A/@$%#'U.,,%D+'+?.D%<%/$'!"#"$"%&'()&*+*V'%$'@/'%/$>%$A%/'&%':;'T'79'<A/@$%#
.E%J'D%'M@>)W

H%'J./&A&.$'&A#,"#%'&%'X9'<A/@$%#',"@>',>+,.>%>'DQ%B,"#+'#@>'@/'$-Y<%'&Q.J$@.DA$+W'6/
#Q.A&./$'&%#'&"J@<%/$#'R"@>/A#8'AD'&"A$'&+E%D",,%>'@/',"A/$'&%'E@%',%>#"//%D'#%D"/'@/',D./
#$>@J$@>+'F@A'J"<,>%/&'@/%'A/$>"&@J$A"/8'@/'&+E%D",,%<%/$'%$'@/%'J"/JD@#A"/W

*A'E"@#'E"@D%O'%/'#.E"A>',D@#'#@>'D%#'<"&.DA$+#8'E"@#',"@E%O'J"/#@D$%>'J%'&%#J>A,$AR'&%
DQ+,>%@E%'&%',>"&@J$A"/'">.D%'&@'G=HI'2:W

5.88$+&)9/"%%:9)"+)$,-.%/)0")1234)56)7
*@AE./$'@/%'<+$-"&%',+&.?"?AF@%'&A$%Z',-$*.*/'8Z!"#$%&'#()$(*"#+#%,'"-$"-#.#")#/(-"0*#1
&)#2%/34"#/5"67%'8#/&#9:;<#=>W'G./#'@/',>%<A%>'$%<,#8'M%'<"/$>%>.A'J"<<%/$
,>+,.>%>'DQ%B,"#+'%/'['?>./&%#'+$.,%#'K':W'=/.D)#%>'D%'#@M%$'\'7W'2-%>J-%>'&%#'A&+%#'\'[W
!>+,.>%>'D%',D./'&+$.ADD+W'G./#'@/'&%@BAY<%'$%<,#8'M%'&+J>A>.A'D%'&+>"@D%<%/$'&%'DQ%B,"#+'K
A/$>"&@J$A"/8'&+E%D",,%<%/$'%$'J"/JD@#A"/W'6/'<]<%'$%<,#8'01',-$*2&'34*($'(-$&)
-35.*)5!'#/(-"))*6$'(.'(2&'(0'(74*)('/(-"&32&"*(0'($'(74*)W'2%D.'E"@#',%><%$$>.'&%'&+J"@E>A>8
,.#'T',.#8'D.'<+$-"&"D"?A%'T'#@AE>%',"@>'>+@##A>'DQ+,>%@E%W

C.A#8'J"<<%/^"/#',.>'&+J"@E>A>'D%'#@M%$',"@>'/"$>%'%B,"#+'&@'G=HI'2:W

_'DQ%B.<%/8'&)#'&!"*#0%27-")/#*%&!%&-'#&)"#0%)'(?)"#"*#/"'#/%0&2")*'W

2"/#A?/% G"J@<%/$': G"J@<%/$'7

!"#$%&'%&()%*+,-.&/&(%&01$.2341%&%-563(&52,+&+,((1705&8

9@=ABCDE#>

F&"4#"'*#45(27G0*#/&#)&28-(H&"#'&-#45")$(-%))"2")*#I

8#'(-3"-")*/*"#(9'($"*(+*)4#/(:(359&*3'($1'!-3'*#/'(5."$"%*2&'(9&(#&!53*2&'(9"*/(;/3'
5/&9*5'(:($1<))'!6$5'(#4/*"#4$'(.'(0'&9*=(>4*)(2&'$(')/($'(+53*/46$'(*!-4./(9'(.'()'./'&3()&3
$1'#+*3"##'!'#/(?

=D">#'F@%'D.'J>A#%'#./A$.A>%'.'.JJ+D+>+'D.'$>./#R"><.$A"/'&@'&A?A$.D'%$'.@?<%/$+
DQ@$ADA#.$A"/'&%#'"@$AD#'/@<+>AF@%#8'@/%',>","#A$A"/'&%'D"A'EA#./$'T'DA<A$%>'DQ%<,>%A/$%
+J"D"?AF@%'&%'J%'#%J$%@>'&"A$']$>%'%B.<A/+%'T'DQ.##%<(D+%'J%'M%@&A'%/'#+./J%',@(DAF@%
.,>Y#'.E"A>'+$+'.&",$+%',.>'D%'*+/.$W'*%D"/'@/%'<A##A"/'&QA/R"><.$A"/'&%'D.'2-.<(>%
-.@$%8'D.',.>$'&@'/@<+>AF@%'&./#'D%#'+<A##A"/#'&%'?.O'T'%`%$'&%'#%>>%'%/'I>./J%'+$.A$
&%'7'a'%/'79:bW'6$'#@>$"@$8'J%#'+<A##A"/#',"@>>.A%/$'.@?<%/$%>'&%'X9'a'&QAJA'79c98
.$$%A?/./$'X8d'a'&%#'+<A##A"/#'$"$.D%#'%/'I>./J%'U,.>'J"<,.>.A#"/8'D.',.>$'&@
$>./#,">$'.+>A%/'%#$'&%'c8d'aVW

G./#'D%'&+$.AD8'&Q"e'EA%//%/$'J%#'+<A##A"/#'P'f'H%#'@$ADA#.$%@>#'&@'/@<+>AF@%'"@(DA%/$
#"@E%/$'F@%'D%#'+J-./?%#'/@<+>AF@%#'&A$#'f'&+<.$+>A.DA#+#'g'/%',%@E%/$'%BA#$%>'F@Q%/
#Q.,,@)./$'#@>'@/'#%J$%@>'(A%/'<.$+>A%D'J"<,"#+'&%'$%><A/.@B8'&%'J%/$>%#
A/R"><.$AF@%#'%$'&%'>+#%.@B'g8'/"$%/$'D%#'#+/.$%@>#W

GQ.(">&8'D.'<.M">A$+'&%'J%#'+<A##A"/#'F@A'/%'#%'E"A%/$',.#'EA%/$'&%#'$%><A/.@B
U$+D+,-"/%#',">$.(D%#8'">&A/.$%@>#8'$+D+EA#A"/#8'J"/#"D%#'&%'M%@B8'%/J%A/$%#
J"//%J$+%#8'%$JWVW'H.',>"&@J$A"/'%$'DQ@$ADA#.$A"/'&%'J%#'"(M%$#'/@<+>AF@%#'#"/$'T
DQ">A?A/%'&%'S:'a'&%#'+<A##A"/#'R>./^.A#%#'&@'#%J$%@>W'2%$$%',.>$'A<,">$./$%'&./#
DQA<,.J$'%/EA>"//%<%/$.D'&@'/@<+>AF@%'#Q%B,DAF@%',>A/JA,.D%<%/$',.>'D.',-.#%'&%
R.(>AJ.$A"/'F@A'/+J%##A$%'&%#'",+>.$A"/#'$>Y#'J"/#"<<.$>AJ%#'&Q+/%>?A%#'J"<<%'%/$>%
.@$>%#8'DQ%B$>.J$A"/'&%'<A/+>.@BW'6/'I>./J%8'J%$$%'#%@D%',-.#%'&%'R.(>AJ.$A"/
>%,>+#%/$%'d9'a'&%'DQ%<,>%A/$%'J.>("/%'&@'/@<+>AF@%'.D">#'F@%'&./#'D%'<"/&%8'%DD%
J">>%#,"/&'T'@/',%@'<"A/#'&%'c9'a'#%D"/'@/%'+$@&%'&%'3-%'*-AR$'!>"M%J$W'2%$$%
&A`+>%/J%'EA%/$'&@'R.A$'F@%'D.'R.(>AJ.$A"/'&%#',>"&@A$#'@$ADA#+#'%/'I>./J%'%#$'D.>?%<%/$
&+D"J.DA#+%'&./#'D%#',.)#'&Q=#A%'&@'*@&h%#$'"e'DQA/$%/#A$+'J.>("/%'&%'DQ+D%J$>AJA$+'%#$
(A%/',D@#'A<,">$./$%W'=D">#'F@%'D.'&@>+%'&%'EA%'&Q@/'#<.>$,-"/%'%#$'.@M"@>&Q-@A'&%
EA/?$h$>"A#'<"A#8'f'@/%'DA<A$.$A"/'&@'>%/"@E%DD%<%/$'&%#'$%><A/.@B'%#$'A/&A#,%/#.(D%
g8'J"/JD@$'D%'>.,,">$'#+/.$">A.DW

9"'#/G*G#0")*"-'#7G-*(0&4(3-"2")*#8)"-?($%-"'
NA%//%/$'%/#@A$%'D%#'+<A##A"/#'DA+%#'.@B'J%/$>%#'A/R"><.$AF@%#'&Q-+(%>?%<%/$'&%#
&"//+%#8'D%#'R.<%@B'&.$.'J%/$%>#W'i@"AF@%'<"A/#'A<,">$./$%#8'%DD%#'>%,>+#%/$%/$
/+./<"A/#':c'a'&%#'+<A##A"/#'&@'#%J$%@>'%/'I>./J%W'H%'#$"Jj.?%'&%'&"//+%#
/+J%##A$%'@/%'R">$%'J"/#"<<.$A"/'&Q%.@W'kD'%#$'.@##A',.>$AJ@DAY>%<%/$'+/%>?AE">%W'kD
.$$%A/$'&./#'D%'<"/&%'[9'a'&%'D.'J"/#"<<.$A"/'&Q+D%J$>AJA$+'&@'/@<+>AF@%W'2%$$%'R"A#h
JA'%/J">%8'DQ-+(%>?%<%/$'&%#'&"//+%#'R>./^.A#%#'%#$'D.>?%<%/$'&+D"J.DA#+W'*A'J%>$.A/%#
?>./&%#'%/$>%,>A#%#'&@'/@<+>AF@%'"/$'.//"/J+'E"@D"A>'E%>&A>'D.'J"/#"<<.$A"/
+D%J$>AF@%'&%'D%@>#'J%/$>%#'&%'#$"Jj.?%8'D%#'#+/.$%@>#'R>./^.A#'E"@&>.A%/$'f'A/JA$%>'T
DQA/#$.DD.$A"/'&%'&.$.'J%/$%>#'%/'I>./J%'g'"e'DQ+/%>?A%8'.E%J'D.',.>$'A<,">$./$%'&@
/@JD+.A>%8'%#$',%@'J.>("/+%W

6/l/8'D%#'>+#%.@B'A/R"><.$AF@%#',>"&@A#%/$'F@./$'T'%@B';'a'&%#'+<A##A"/#'&%'?.O'T
%`%$'&%'#%>>%'&@'/@<+>AF@%W'm/'J-A`>%'/"/'/+?DA?%.(D%'F@A'A/JD@$'D.',>"&@J$A"/'&%#
+F@A,%<%/$#'U>"@$%@>#8'./$%//%#h>%D.A#8'#%>E%@>#'%$JWV'.A/#A'F@%'D%@>'J"/#"<<.$A"/
+D%J$>AF@%W

JK#2(44(G-/'#/5%,!"*'#0%))"0*8'#")#LKLJ
H%'E+>A$.(D%'%/M%@'&%'D.',"DD@$A"/'&@'/@<+>AF@%'#%'#A$@%'&"/J'%##%/$A%DD%<%/$'&./#'D.
R.(>AJ.$A"/'&%'/"#'"@$AD#'&@'F@"$A&A%/W'GQ.,>Y#'@/%'+$@&%'<%/+%',.>'n>%%/WA$',@(DA+%
%/'#%,$%<(>%'79:b8'#A'D%'/"<(>%'&Q+F@A,%<%/$#'JD.##AF@%#'&./#'D%'<"/&%'E.
J"/$A/@%>'&Q.@?<%/$%>'J%#'JA/F',>"J-.A/%#'.//+%#8'J%'#"/$'#@>$"@$'D%#'"(M%$#
J"//%J$+#'F@A'E"/$'J"//.o$>%'@/'(""<'T'D.'E%/$%'&./#'D%'<"/&%8',.##./$'&%'79
<ADDA.>&#'%/'7979'T',D@#'&%';9'<ADDA.>&#'%/'797;W'GQ.@$>%#'"(M%$#'&@'F@"$A&A%/
,"@>>.A%/$'+?.D%<%/$'.JJ>"o$>%'D%@>',.>$'&./#'DQ%<,>%A/$%'J.>("/%'&@'/@<+>AF@%8
J"<<%'D%#'$+D+EA#A"/#',.>'%B%<,D%8'/"$%/$'D%#'.@$%@>#8'.E%J'@/'>%/"@E%DD%<%/$
A<,">$./$'&@',.>J',"@>'@/'.?>./&A##%<%/$'&%'D.'$.ADD%'&%'DQ+J>./'\';9'J<'&%
&A.?"/.D%#'%/'79:9'T':8X'<'%/'797;W

H%'&%@BAY<%'%/M%@'%#$'J%D@A'&%'D.'J"/#"<<.$A"/'&Q+/%>?A%'&@'/@<+>AF@%W'*%D"/'D%#
J-A`>%#'&%'DQ=G6C6',@(DA+#'%/'M./EA%>8'D%'#%J$%@>'&%#'/"@E%DD%#'$%J-/"D"?A%#
>%,>+#%/$%'T'D@A'#%@D'%/$>%'X'%$':9'a'&%'D.'J"/#"<<.$A"/'<"/&A.D%'&Q+D%J$>AJA$+W
HQ%B,D"#A"/'&@'E"D@<%'&%#'&"//+%#'.E%J'/"$.<<%/$'D.'J>"A##./J%'%B,"/%/$A%DD%'&@
#$>%.<A/?'EA&+"',.>$AJA,%'%/$>%'.@$>%#'T'J%$$%'R">$%'J"/#"<<.$A"/'+/%>?+$AF@%W
6/J">%'R.@$hAD'#.E"A>'&Q"e'EA%/$'J%$$%'+/%>?A%8'#A'%DD%'%#$'R>./^.A#%'"@'/"/'%$'D%'&%?>+'&%
#"/'%<,>%A/$%'J.>("/%W'H.'<A##A"/'&QA/R"><.$A"/'&@'*+/.$'/"$%'.A/#A'F@%'S9'a'&%#
+<A##A"/#'DA+%#'.@'/@<+>AF@%'#"/$',>"&@A$%#'T'DQ+$>./?%>W

H.',>","#A$A"/'&%'D"A'.&",$+%',.>'D%'*+/.$'J"/$A%/$'%/'J%'#%/#'&%@B',>A">A$+#'<.M%@>%#W
G./#'@/',>%<A%>'$%<,#'DQ"(M%J$AR'%#$'&%',>"D"/?%>'D.'&@>+%'&%'EA%'&%'/"#'$+D+,-"/%#8
">&A/.$%@>#'%$'.@$>%#'"@$AD#'/@<+>AF@%#W'f'kD'/"@#'R.@$',"@>'J%D.'>%/R">J%>'D.'lDAY>%'&@
>%J"/&A$A"//+'%$'>+&@A>%'DQ"(#"D%#J%/J%'D"?AJA%DD%'g8'&+$.ADD%'NA/J%/$'3-A+(.@$8'&+,@$+
>.,,">$%@>'&%'D.'D"AW'G./#'@/'#%J"/&'$%<,#8'f'AD'R.@$'R.A>%'@/'$>.E.AD'&%',+&.?"?A%'#@>
D.'#"(>A+$+'/@<+>AF@%8'%/'@/'<"$8'.,,>%/&>%'T'#%'&+J"//%J$%>'g8'J"/$A/@%h$hAD8',"@>
DA<A$%>'D.'J"/#"<<.$A"/'+/%>?+$AF@%W'2%'$%B$%'&%'D"A'J"/#$A$@%>.8'#QAD'%#$'.&",$+',.>
DQ=##%<(D+%'/.$A"/.D%8'@/'$"@$',>%<A%>'J.&>%'D+?A#D.$AR'%/'D.'<.$AY>%W

C.)%@D'=D&%(%>$8'@'(A*%43"8'b09X0797:

!"#$%#&'()*+%#',%-&./0#123#4*)56%/7
H.'J"/#A?/%'&%'DQ+,>%@E%'%#$'JD.A>%'K'D%'J./&A&.$'&"A$'"(DA?.$"A>%<%/$'@$ADA#%>'D%#'&"J@<%/$#
&./#'#"/'%B,"#+W'2%,%/&./$8'D%'(@$'&%'DQ%B%>JAJ%'%#$'&%'/8$"4%77"-#&)#7%()*#/"#$&"
7"-'%))"4W'kD'/%'R.@$',.#'>+#@<%>'D%#'$%B$%#'/A'D%#'J"<<%/$%>'D"/?@%<%/$8'<.A#'D%#
%B,D"A$%>'J"<<%')"&3.'(9".&!'#/4*3'W'=@$>%<%/$'&A$8'D%'J./&A&.$'&"A$'%/'%B$>.A>%'&%#'A&+%#
%$'&%#'A/R"><.$A"/#',%>$A/%/$%#',"@>'D%#'A/$+?>%>'&./#'#.'>+p%BA"/',%>#"//%DD%W'6/
,.>$AJ@DA%>8'D%#'&"J@<%/$#'#%>"/$'$>Y#'@$AD%#',"@>'$>"@E%>'&%#'R.A$#8'&%#'%B%<,D%#'%$'&%#
J-A`>%#'F@A'#%>EA>"/$'T'ADD@#$>%>'D%#'.>?@<%/$#W

B'(+4*)(9"#.(74*3'(4//'#/*"#(:(#'(-4)(3')/'3(/3"-(-3C)(9')(/',/')=(D'#94#/(/"&/'($4(-35-434/*"#E(0'
+4*)(/F.G'3(91;/3'(/3C)(4./*7(4H#(9'(95+'$"--'3(&#'(+53*/46$'(35I',*"#(-'3)"##'$$'=

t
D'#94#/(/"&/'($4(-35-434/*"#E(0'(+4*)(/F.G'3(91;/3'(/3C)(4./*7(4H#(9'
95+'$"--'3(&#'(+53*/46$'(35I',*"#(-'3)"##'$$'=

5656&789:9;<=>&;>&=?7>!&@5A&B&52&CD:?!>=E

H%#'&"J@<%/$#'.(">&%/$'@/',>"(DY<%'F@A',%@$']$>%'$>Y#'D.>?%'%$'J"<,D%B%W'!"@>'@/
%B,"#+'DA<A$+'T':9'<A/@$%#8'AD'R.@$'&"/J'J-"A#A>'@/%'&A>%J$A"/',>+JA#%8'?+/+>.D%<%/$'@/%
F@%#$A"/'T'D.F@%DD%'&%E>.'>+,"/&>%'$"@$%'DQ.>?@<%/$.$A"/W'=@$>%<%/$'&A$8'&./#'J%$$%
,>%<AY>%'+$.,%8'M%'E.A#'&+?.?%>'@/%'-3"6$5!4/*2&'W

!"@>'J%D.8'M%'J"<<%/J%',.>'<"(ADA#%>'<%#'J"//.A##./J%'#@>'D%'$-Y<%8',@A#'M%'R.A#'@/%
D%J$@>%'?D"(.D%'&%#'&"J@<%/$#W

565656&7$&4,F(0(-$&4$-&G,.."(--".G$-

q%'DA#'D%'$-Y<%'&%'DQ%B,"#+'UJQ%#$'?+/+>.D%<%/$'@/%'F@%#$A"/V'K'f'H%'/@<+>AF@%'%#$hAD'$>",
,"DD@./$'P'g'q%'J"<<%/J%',.>'R.A>%'@/'(>%R'3'!&'J!5#*#%')'U"@'634*#)/"3!*#%VW'i@%DD%#'#"/$
<%#'J"//.A##./J%#'#@>'J%'$-Y<%'P'i@%D#'#"/$'D%#'%/M%@B'P'*@A#hM%'&A>%J$%<%/$'J"/J%>/+
,.>'J%',>"(DY<%'P'6#$hJ%'F@%'M%',%@B'<%'>.,,%D%>'&%#'%B%<,D%#r'P

!%>#"//%DD%<%/$8'MQ.A'&+MT'F@%DF@%#'J"//.A##./J%#'#@>'J%'$-Y<%'&%'D.',"DD@$A"/
/@<+>AF@%W'q%'#.A#'F@%'DQ@$ADA#.$A"/'&Qk/$%>/%$'J"/#"<<%'(%.@J"@,',D@#'&Q+/%>?A%'F@Q"/'/%
D%',%/#%W'qQ.A'&+MT'E@'@/'>%,">$.?%'F@A'%B,DAF@.A$'J"<<%/$'DA<A$%>'J%$$%',"DD@$A"/'%/
#@,,>A<./$'D%#'./JA%/#'<%##.?%#'&./#'@/%'("o$%'%h<.AD8'%$JW

>"6*$*)'3(4*#)*(!')(."##4*))4#.')E(4+4#/($4($'./&3'(9')(9".&!'#/)E(!'(-'3!'/(9149"-/'3
*!!59*4/'!'#/(&#'(4//*/&9'(4./*+'=(K'(-$&)E(.'$4(74.*$*/'34($4(."!-35G'#)*"#(9')(/',/')('#
354./*+4#/(94#)(!4(!5!"*3'($'(+".46&$4*3'(*!-"3/4#/()&3($'(/GC!'=(>4*)(6*'#('#/'#9&E()*(0'(#'
."!-3'#9)(-4)(9&(/"&/($'(/GC!'E(*#&/*$'(9'(-4#*2&'3(L(0'(.G'3.G'($')(/'3!')(*#."##&)(94#)($'
9*./*"##4*3'("&(0'(-4))'(/"&/(9'()&*/'(:($4($'./&3'(9')(9".&!'#/)(M

t
>"6*$*)'3(!')(."##4*))4#.')(4+4#/($4($'./&3'(9')(9".&!'#/)(!'(-'3!'/
9149"-/'3(*!!59*4/'!'#/(&#'(4//*/&9'(4./*+'=(K'(-$&)E(.'$4(74.*$*/'34($4
."!-35G'#)*"#(9')(/',/')('#(354./*+4#/(94#)(!4(!5!"*3'($'(+".46&$4*3'
*!-"3/4#/()&3($'(/GC!'=

5656H6&7$&I"(-&J.$&0$G)JK$&#0,F"0$&%$-&%,GJ4$.)-

q%'J"<<%/J%',.>'%B,D">%>'D%#'$%B$%#'U$A$>%#8'A/$%>$A$>%#8'#"@>J%#rV8',@A#'M%'R.A#':'D%J$@>%
>.,A&%'.l/'&%'>+,"/&>%'.@B'F@%#$A"/#'#@AE./$%#W

F&"44"'#'%)*#4"'#'%&-0"'#/"'#/%0&2")*'#I
q%'J"/#$.$%'F@%'D%#'7'.>$AJD%#'#"/$'>+J%/$#'%$'F@QAD#'#"/$'+J>A$#'T',%@',>Y#'T'D.'<]<%
+,"F@%W'2Q%#$'&"/J'@/',>"(DY<%'%/J">%'.J$@%D8'F@A'/Q.',.#'(%.@J"@,'+E"D@+W'q%'>%DYE%'D%#
.@$%@>#8'J.>'M%',"@>>.A'%/'.E"A>'(%#"A/',"@>'&%#'JA$.$A"/#'.@'J"@>#'&%'<"/'%B,"#+W

F&"44"'#'%)*#4"'#0(-0%)'*G)0"'#/"#7&,4(0G*(%)#I
8#(43/*.$'(9'(-3'))'(')/(/"&0"&3)(5.3*/(-"&3(&#'(.'3/4*#'("..4)*"#=(@4(3'-53'3(4*9'(:(."!-3'#93'
$1*#/'#/*"#(%5#534$'(9&(/',/'=

H%'&"J@<%/$':'+E"F@%'f'@/%',>","#A$A"/'&%'D"A'EA#./$'T'>+&@A>%'DQ%<,>%A/$%'+J"D"?AF@%'&@
/@<+>AF@%'g8'.@$>%<%/$'&A$'#"/'A<,.J$'#@>'DQ%/EA>"//%<%/$W
H%'&"J@<%/$'7'>.,,">$%'f'@/%'+$@&%'<%/+%',.>'DQA/#$A$@$'1&"B.'gW'kD'#Q.?A$'&"/J'&%#
>+#@D$.$#'&Q@/'#"/&.?%8'&Q"e'D.',>+#%/J%'&%'/"<(>%@B',"@>J%/$.?%#W

F&"4#"'*#4"#0%)*")&#"''")*("4#/"'#/%0&2")*'#I
B'(35)&!'('#(N("&(O(-G34)')E(4+'.(!')(-3"-3')(!"/)E($1*95'(%5#534$'(9'(.G42&'(9".&!'#/=(B'
35&/*$*)'34*(.')(35)&!5)(94#)($1*#/3"9&./*"#(9'(!"#(',-")5=

G"J@<%/$':'K'@/%',>","#A$A"/'&%'D"A'EA#%'T'>+&@A>%'DQA<,.J$'&@'/@<+>AF@%'#@>
DQ%/EA>"//%<%/$'%/'.?A##./$'#@>'7'D%EA%>#'K'>+&@A>%'DQ"(#"D%#J%/J%'&%#'D"?AJA%D#'%$
.,,>%/&>%'.@B'@#.?%>#'T'DA<A$%>'D.'J"/#"<<.$A"/'&Qk/$%>/%$W
G"J@<%/$'7'K'@/'#"/&.?%'#@>'D%#'@#.?%#'&@'/@<+>AF@%'>+EYD%'F@%'D.'<.M">A$+'&%#'I>./^.A#
/Q"/$',.#'J"/#JA%/J%'F@%'D%@>'@$ADA#.$A"/'&Qk/$%>/%$'%#$'@/%'#"@>J%'&%',"DD@$A"/W

F&"4#"'*#4"#-M4"#/"'#/%0&2")*'#I
<&/3'!'#/(9*/E(-"&32&"*(4J/J"#(.G"*)*(.')(9".&!'#/)(-"&3(46"39'3($'(/GC!'(9'($4(-"$$&/*"#
#&!53*2&'(?(P"!!'#/()'(."!-$C/'#/J*$)(?(Q&'$$')()"#/($'&3)(9*R53'#.')(91*#/'#/*"#('/(9'
."#/'#&(?

H%'&"J@<%/$':'<"/$>%'DQA<,">$./J%'&@',>"(DY<%8'D%#'J.@#%#'%$'D%#'%/M%@B',"@>'D%'R@$@>W
G./#'D%'&"J@<%/$'78'D%#'>+#@D$.$#'&@'#"/&.?%'EA%//%/$'J"/l><%>'D%'&%@BAY<%'%/M%@
%B,"#+'&./#'D%'&"J@<%/$':'K'D%#'I>./^.A#'"/$'(%#"A/'&Q.,,>%/&>%'T'#%'&+J"//%J$%>W'1/
$>"@E%',.>'.ADD%@>#'&%#'A&+%#'&%'#"D@$A"/#'J"/J>Y$%#'T'J%',>"(DY<%8',.>'%B%<,D%'#@,,>A<%>
D%#'./JA%/#'J"@>>A%D#W

D'#94#/(!4($'./&3'E(0'(74*)(&#(&)4%'($*!*/5(9&(9*./*"##4*3'=(B'(#'(.G'3.G'(2&'($')(!"/)
#5.'))4*3')(-"&3(."$$'./'3($')(*#7"3!4/*"#)(.*J9'))&)=(B'(#14*(-4)(6')"*#(9'(."!-3'#93'(/"&/($'
."#/'#&(9')(9".&!'#/)=

t
D'#94#/(!4($'./&3'E(0'(74*)(&#(&)4%'($*!*/5(9&(9*./*"##4*3'E(.43(0'(#14*(-4)
6')"*#(9'(."!-3'#93'(/"&/($'(."#/'#&(9')(9".&!'#/)=

5656L6&7$&I,K4J0$&4"&1K,F0M4")(NJ$

_'F@%DD%'F@%#$A"/'<"/'%B,"#+'&%E>.h$hAD'>+,"/&>%'P'N"@#'>%<.>F@%>%O'&./#'D%#'#@M%$#
&Q%B.<%/'F@%'D%'$-Y<%'%#$'#"@E%/$'R"><@D+',.>'@/%'F@%#$A"/'K'f'H%'/@<+>AF@%'%#$hAD'$>",
,"DD@./$'P'g'kD'%#$'$%/$./$'&%'>%,>%/&>%'%B.J$%<%/$'J%$$%'F@%#$A"/',"@>'D.',>"(D+<.$AF@%8
<.A#'M%'/%'D%'J"/#%ADD%',.#W'6/'%`%$8'D%#'%B.<A/.$%@>#'+E.D@%>"/$'D.'J.,.JA$+'&@'J./&A&.$'T
&+?.?%>'@/%',>"(D+<.$AF@%',%>#"//%DD%'%$'T'D.'R"><@D%>'.E%J',>+JA#A"/W'kD'J"/EA%/$'&"/J
&%'D.'>%R"><@D%>'.E%J'E"#',>",>%#'<"$#'"@'&Q%/'J-"A#A>'@/%'.@$>%W

GQ.@$>%',.>$8'D%'J-"AB'&%'D.',>"(D+<.$AF@%'E.'&+$%><A/%>'D.'>%J-%>J-%'&QA&+%#'%$'D%'$),%'&%
,D./W'=E%J'@/%',>"(D+<.$AF@%'J"<<%'f'R.@$hAD'#QA/F@A+$%>'&%'D.',"DD@$A"/'/@<+>AF@%'P'g8'M%
>%J-%>J-%>.A'&%#'.>?@<%/$#',"@>'"@'J"/$>%'.l/'&%',>+,.>%>'@/',D./'&%'$),%'9*4$'./*2&'W
2%,%/&./$8'J"<<%'D%#'&"J@<%/$#'&%'/"$>%'#@M%$'%B,"#%/$'@/',>"(DY<%'%$'D.'>%J-%>J-%
&%'#"D@$A"/#8'M%'E.A#',D@$s$'J-"A#A>'D.',>"(D+<.$AF@%'#@AE./$%'K'f'2"<<%/$'D@$$%>'J"/$>%'D.
,"DD@$A"/'/@<+>AF@%'P'g'!.>'J"/#+F@%/$8'MQ",$%>.A',"@>'@/',D./'&%'$),%'f'./.D)$AF@%'g'F@A
J"<,>%/&'?+/+>.D%<%/$'['?>./&%#',.>$A%#'K'kW'*A$@.$A"/'\'kkW'2.@#%#'\'kkkW'*"D@$A"/#W

56H6&7>&3O>/3O>&P>=&DPQ>=&@HA&B&H2&CD:?!>=E

2Q%#$'D%'<"<%/$'&%'J-%>J-%>'&%#'A&+%#',%>$A/%/$%#8'F@A'&"AE%/$'$"@$%#'>+,"/&>%'T'D.
,>"(D+<.$AF@%W'<//'#/*"#(4&(G"3)J)&0'/(M'q%'J"<<%/J%'&"/J',.>'/"$%>'D%',D@#'EA$%',"##A(D%
$"@#'D%#'.>?@<%/$#'%$'%B%<,D%#'$A>+#'&%'<.'>+p%BA"/',%>#"//%DD%'%$'&%'<"/
%/EA>"//%<%/$W'K4#)(.'(!"9C$'E(*$)()'3"#/()*/&5)(94#)($4()".*5/5(734#S4*)'E(!4*)(*$)(-'&+'#/
-3"+'#*3(9'(/"&)($')(-4T)E()'$"#($1',-53*'#.'(9&(.4#9*94/=

6/#@A$%8'M%'>%J-%>J-%'&./#'D.')"&3.'(9".&!'#/4*3''&%#'R.A$#8'&%#'J-A`>%#'%$'&%#'%B%<,D%#
,"@>'ADD@#$>%>'<%#'.>?@<%/$#W'C.A#'J%'/Q%#$',.#'$"@$'K'M%'>%DYE%'+?.D%<%/$'F@%DF@%#'A&+%#
F@%'M%',"@>>.A#'/@./J%>'"@'>+R@$%>W'U#('R'/E($'(0&3T(5+4$&'34($4(.4-4.*/5(9&(.4#9*94/(:
4#4$T)'3($4()"&3.'(4+'.(&#(3'%439(.3*/*2&'W

G./#'$"@#'D%#'J.#8'AD'%#$'A/&A#,%/#.(D%'&%'>%R"><@D%>'D%#'+D+<%/$#'%B$>.A$#'&%#'&"J@<%/$#'K
M%'D%#'/"$%'#@>'<"/'(>"@ADD"/'.E%J'<%#',>",>%#'<"$#W

*%D"/'D%#'?>./&#'.B%#'&%'<"/',D./8'M%'&"A#'&"/J'J"<<%/J%>',.>'/80-(-"#4G#'(*&G*(%)ZDA+%'T
D.',"DD@$A"/'/@<+>AF@%W'*"A$8',.>'%B%<,D%'U,"@>',D@#'&%'JD.>$+8'M%'<%$$>.A'%/'A$.DAF@%'D%#
+D+<%/$#'%B$>.A$#'&%'D.'#"@>J%'&"J@<%/$.A>%V'K

u<A##A"/#'&%'?.O'T'%`%$'&%'#%>>%'v'<%/.J%'#@>'D.',D./Y$%'&Q@/'J-./?%<%/$'JDA<.$AF@%'Uw
7x'&QAJA'79c9V

2"/#+F@%/J%#'&Q@/'>+J-.@`%<%/$'JDA<.$AF@%'&+MT'J"//@%#'K'-.@##%'&@'/AE%.@'&%#
<%>#8'J./AJ@D%#8'%$JW

u<A##A"/#'&%'?.O'T'%`%$'&%'#%>>%'&@'/@<+>AF@%',D@#'+D%E+%#'F@%',"@>'D%'$>./#,">$
.+>A%/'K'-3C)(9'(V(W(9')(5!*))*"#)('#(A34#.'(91*.*(OXYX

2"/#"<<.$A"/'&Q+D%J$>AJA$+',.>'D%'/@<+>AF@%'K'9'(Z(:(NX(W(9'($4(."#)"!!4/*"#(!"#9*4$'

=E%/A>',D@#'A/F@A+$./$'%/J">%'K'&+,D"A%<%/$'&%'D.';n'%$'?+/+>.DA#.$A"/'&%#'"(M%$#
J"//%J$+#'K'[X(!*$$*439)('#(OXO[

q%'&"A#'%/#@A$%'%B,"#%>'4"'#0G&'"'#H&(#"674(H&")*#0"**"#'(*&G*(%)W'*"A$8',.>'%B%<,D%'K

I.(>AJ.$A"/'&Q+F@A,%<%/$#'$>Y#'J"y$%@#%'%/'+/%>?A%'K'3'-35)'#/'(VX(W(9'($1'!-3'*#/'
.436"#'(9&(#&!53*2&'('#(A34#.'

2"/#"<<.$%@>'A/JA$+'T'>%/"@E%D%>'>+?@DAY>%<%/$'#"/'<.$+>A%D'K'"(#"D%#J%/J%
,>"?>.<<+%8'/"@E%.@'<"&YD%'&%'#<.>$,-"/%'J-.F@%'.//+%r

K5+'$"--'!'#/(9&(+*)*"##4%'(9'(+*95")('#()/3'4!*#%ZK',"A&#'&%#'lJ-A%>#'EA&+"'UM@#F@QT':9
n1',"@>'@/'lD<'%/'$>Y#'-.@$%'>+#"D@$A"/V

I">$%'R>+F@%/$.$A"/'&%#'>+#%.@B'#"JA.@B'K'['<ADDA.>&#'&Q.J$AR#'#@>'I.J%(""j

z"<(>%@#%#'&"//+%#'+J-./?+%#'$"$.D%<%/$'A/@$AD%#'K'#,.<#8',@(DAJA$+#'/"/'#"DDAJA$+%#r

!"DD@$A"/'f'J.J-+%'g8'A/J"//@%'&%'D.'<.M">A$+'&%#'A/$%>/.@$%#'K'ZO(W(#1"#/(-4)(."#).*'#.'
9'($1*!-4./(9&(#&!53*2&'()&3($1'#+*3"##'!'#/(\'#2&;/'(91]9",4^

*%/#A(ADA#.$A"/'A/#@{#./$%'%$'#"@E%/$'<.D.&>"A$%'K'J>A$AF@%'&%'$%><%#'J"<,DAF@+#
J"<<%')"63*5/5(#&!53*2&'

6/l/8'M%'&"A#'")$('G?"-#/"'#'%4&*(%)'#0%)0-3*"'#+#0"#7-%,432"W'*"A$8',.>'%B%<,D%'K

k/$+>]$'&Q@/'-3"0'/(9'($"*(."!!'(94#)($'(9".&!'#/(N'P'G+MT'.(./&"//+'&%,@A#'D.'>+&.J$A"/
&%'DQ.>$AJD%'L

_+*/'3(9'(+*)*"##'3(9')(+*95")('#(/3C)(G4&/'(95H#*/*"#ZK'&A{JAD%'T'R.A>%'.JJ%,$%>'P

uJ"/"<A#%>'D.'J"/#"<<.$A"/'&Q+/%>?A%'T'D.'<.A#"/'K'J"@,%>'k/$%>/%$'D.'/@A$8'&+(>./J-%>
D%#'.,,.>%AD#'F@./&'AD#'/%'#%>E%/$',.#r

=@?<%/$%>'D.'&@>+%'&%'EA%'&%#'.,,.>%AD#'K'>+#A#$%>'T'D.',@(DAJA$+8'>+,.>%>8'-35753'3($')
52&*-'!'#/)(3'."#9*/*"##5)r

CA%@B'#%/#A(ADA#%>'D%#'A/$%>/.@$%#'T'D.',"DD@$A"/'/@<+>AF@%'K'J"<<@/AJ.$A"/'#A<,D%'%$
%{J.J%r

HA<A$%>'D%'#$"Jj.?%'&%#'&"//+%#'K'#@,,>A<%>'D%#'./JA%/#'<%##.?%#r

56L6&7>&+/Q+9/>&;>&+;9:&PQ!9D;;Q&@HA&B&H2&CD:?!>=E

m/',D./'&+$.ADD+'%#$'A/&A#,%/#.(D%',"@>'">?./A#%>'D"?AF@%<%/$'<.'>+p%BA"/'%$'#%>EA>'&%
?@A&%'$"@$'.@'D"/?'&%'<"/'%B,"#+W

!"@>'>+@##A>'@/',D./'.>?@<%/$.$AR8'M%'&"A#'K

! ,>+E"A>'@/%'A/$>"&@J$A"/8'@/'&+E%D",,%<%/$'%$'@/%'J"/JD@#A"/'|

! #$>@J$@>%>'<"/'&+E%D",,%<%/$'%/'7'"@'[',.>$A%#'.##%O'+F@ADA(>+%#'|

! >%?>"@,%>'%$'JD.##%>'<%#'A&+%#'T'DQA/$+>A%@>'&%'J-.F@%',.>$A%'|

! &+E%D",,%>'J-.F@%'.>?@<%/$',.>'&%#'A&+%#'#%J"/&.A>%#'%$'&%#'%B%<,D%#W

56L656&7$&.,)$&4,.&10".

G./#'J%'<"&YD%8'MQ.A'",$+',"@>'@/',D./'./.D)$AF@%'F@A'J"<,>%/&'?+/+>.D%<%/$'[',.>$A%#W'B'
-35+"*)(5%4$'!'#/(9')(-G34)')(9'(/34#)*/*"#(2&*(!"#/3'3"#/(.$4*3'!'#/($'(-4))4%'('#/3'(.G42&'
-43/*'(9'(!"#(95+'$"--'!'#/=ZN"AJA'&"/J'<"/'%B%<,D%'&%',D./'&+$.ADD+'K

NO#P(*&G*(%)

:W'5sD%'&@'/@<+>AF@%'&./#'D%'J-./?%<%/$'JDA<.$AF@%

.W'5+J-.@`%<%/$'JDA<.$AF@%'K'#%D"/',>+EA#A"/8',D@#'&%'7x2'&QAJA'79c9W'Gy',>A/JA,.D%<%/$
.@B'+<A##A"/#'&%'?.O'T'%`%$'&%'#%>>%W'2"/#+F@%/J%#'K'-.@##%'&@'/AE%.@'&%#'<%>#8
J./AJ@D%#8'%$JW
(W'!.>$'?>./&A##./$%'&@'/@<+>AF@%'K'+<A##A"/#'&%'?.O'T'%`%$'&%'#%>>%'&@'/@<+>AF@%',D@#
+D%E+%#'F@%',"@>'D%'$>./#,">$'.+>A%/'U'%/'I>./J%8'7'a'&%#'+<A##A"/#8',>Y#'&%'d'a'&QAJA
79c9VW'u/"><%'J"/#"<<.$A"/'&Q+D%J$>AJA$+'K'&%'X'T':9'a'&%'D.'J"/#"<<.$A"/'<"/&A.D%W

7W'm/'.E%/A>',>+"JJ@,./$

.W'G%',D@#'%/',D@#'&Q"(M%$#'J"//%J$+#'K'.##A#$./$#'E"J.@B8'+F@A,%<%/$#'&"<"$AF@%#8'%$JW
!>+EA#A"/'K';9'<ADDA.>&#'&Q"(M%$#'J"//%J$+#'%/'797;'L
(W'n+/+>.DA#.$A"/'&%#'@#.?%#8'%/J"@>.?+#',.>'D.',./&+<A%'K'J"@>#'%/'DA?/%8'$+D+$>.E.AD8
&+<.$+>A.DA#.$A"/'&%#'#%>EAJ%#'.&<A/A#$>.$AR#8'%$JW

3>./#A$A"/'K'>4*)(."!!'#/(',-$*2&'3(.'//'(-"$$&/*"#($*5'(4&(#&!53*2&'(?

NNO#=G&'"'
D"&3(;/3'(-$&)(."#+4*#.4#/E(015+*/'(&#'($*)/'(9'(.4&)')()4#)("393'($"%*2&'(L(0'($')(.$4))'(-43
.4/5%"3*')=

:W'2.@#%#'<.$+>A%DD%#

.W'G%#'+F@A,%<%/$#'$>Y#'J"y$%@B'%/'+/%>?A%W'!"@>'D.'R.(>AJ.$A"/'&%#'$%><A/.@B'U!28
#<.>$,-"/%#V'K'+/%>?A%#'R"##AD%#8'%.@8'<A/%>.A#r'5%,>+#%/$%'d9'a'&%'DQ%<,>%A/$%'J.>("/%
&@'/@<+>AF@%'%/'I>./J%W'!"@>'D%'R"/J$A"//%<%/$'&%#'>+#%.@B'K'J"/#"<<.$A"/'&Q+D%J$>AJA$+
,.>'D%#'&.$.'J%/$%>#'UJDA<.$A#.$A"/',"@>'>%R>"A&A>'D%#'<.J-A/%#VW
(W'n.#,ADD.?%'<.$+>A%DW'2"/#"<<.$%@>'A/JA$+'T'>%/"@E%D%>'>+?@DAY>%<%/$'#%#'+F@A,%<%/$#
K'"(#"D%#J%/J%',>"?>.<<+%8'/"@E%.@'<"&YD%'&%'#<.>$,-"/%'J-.F@%'.//+%r'!%@'&%
>%J)JD.?%'K'#%D"/'@/'>.,,">$'&%'DQ1zm'U79:[V8'd;'a'&%#'&+J-%$#'+D%J$>"/AF@%#'/%'#%>.A%/$
,.#'>%J)JD+#W

7W'2.@#%#'A<<.$+>A%DD%#

.W'G%#'@#.?%#'&%',D@#'%/',D@#'+/%>?AE">%#W'I">$%'R>+F@%/$.$A"/'&%#'>+#%.@B'#"JA.@B'K'[
<ADDA.>&#'&Q.J$AR#'#@>'I.J%(""jW'2"/$%/@#'J>++#',.>'D%#'@$ADA#.$%@>#'U,-"$"#8'EA&+"#8
<%##.?%#rVW'q%@B'EA&+"'<.##AR#'%/'DA?/%'UI">$/A$%VW'NA#A"//.?%'&%'EA&+"#'%/'#$>%.<A/?'K
,"A&#'&%#'lJ-A%>#'EA&+"'UM@#F@QT':9'n1',"@>'@/'lD<'%/'$>Y#'-.@$%'>+#"D@$A"/VW
(W'!"DD@$A"/'/@<+>AF@%'f'J.J-+%'gW'5%#$%'EA>$@%DD%8'A/J"//@%'&%'D.'<.M">A$+'&%#'A/$%>/.@$%#
K'X7'a'/Q"/$',.#'J"/#JA%/J%'&%'DQA<,.J$'&@'/@<+>AF@%'#@>'DQ%/EA>"//%<%/$'U%/F@]$%
&Q1&"B.VW'*%/#A(ADA#.$A"/'A/#@{#./$%'%$'#"@E%/$'<.D.&>"A$%'K'J>A$AF@%'&%'$%><%#
J"<,DAF@+#'J"<<%')"63*5/5(#&!53*2&'W

3>./#A$A"/'K'<-3C)(4+"*3(',4!*#5($')(.4&)')E(."#)*953"#)(!4*#/'#4#/($')()"$&/*"#)(-"))*6$')W

NNNO#P%4&*(%)'#7-%7%'8"'
D"&3($4(."G53'#.'(9'(!"#(-$4#E(01'#+*)4%'(9')()"$&/*"#)('#(7"#./*"#(9')(.4&)')(4#4$T)5')(94#)
$4(-43/*'(-35.59'#/'=

:W'HA<A$%>'D.'J"/#"<<.$A"/'+/%>?+$AF@%

.W'5+&@A>%'DQ"(#"D%#J%/J%'&%#'+F@A,%<%/$#W'5+#A#$%>'.@B'<"&%#8'?.>&%>'@/'.,,.>%AD'D%',D@#
D"/?$%<,#',"##A(D%W'I.A>%'>+,.>%>'D%#'.,,.>%AD#'&+R%J$@%@BW'=J-%$%>'&%#'.,,.>%AD#
&Q"JJ.#A"/'"@'>%J"/&A$A"//+#W'6/'l/'&%'EA%8'.,,">$%>'D%#'.,,.>%AD#'.@'>%J)JD.?%W
(W'5+&@A>%'D%'R"/J$A"//%<%/$'&%#'+F@A,%<%/$#W'2"@,%>'k/$%>/%$'D.'/@A$8'&+(>./J-%>'D%#
.,,.>%AD#'F@./&'AD#'/%'#%>E%/$',.#8',>+R+>%>'D%'}AhIA'T'D.'cnr

7W'*%/#A(ADA#%>'T'D.',"DD@$A"/'f'J.J-+%'g

.W'CA%@B'#%/#A(ADA#%>'D%#'A/$%>/.@$%#W'2"<<@/AF@%>',D@#'#A<,D%<%/$'%$',D@#'J"/J>Y$%<%/$
#@>'DQA<,.J$'&%#'@#.?%#'#@>'DQ%/EA>"//%<%/$8'/"$.<<%/$'T'DQ+J"D%W'6/J"@>.?%>'@/%
/.EA?.$A"/',D@#'>%#,"/#.(D%'K'>+&@A>%'D.'F@.DA$+'&%#'EA&+"#8'DA<A$%>'D%'#$"Jj.?%'&%#'&"//+%#
%/'#@,,>A<./$'D%#'./JA%/#'J"@>>A%D#8'%$JW'C.A#'>%#$%'&A{JAD%'T'R.A>%'.JJ%,$%>'L
(W'H"A',%@'%{J.J%',"@>'<"&Al%>'D%#'J"<,">$%<%/$#W'G%',D@#8'"(#"D%#J%/J%',>"?>.<<+%
&+MT',@/A%',.>'D.'D"A'%/'I>./J%W'!D@$s$'#$A<@D%>'DQA//"E.$A"/'&./#'D%#'%/$>%,>A#%#',"@>
&+E%D",,%>'&%#'+F@A,%<%/$#',D@#'>%#,%J$@%@B'&%'DQ%/EA>"//%<%/$'K'#)#$Y<%#'&%
>%R>"A&A##%<%/$'&./#'D%#'&.$.'J%/$%>#8'<+$-"&%#'&%'#$"Jj.?%'<"A/#'J"/#"<<.$>AJ%#
&Q+/%>?A%8'%$JW

`&3(&#(63"&*$$"#(-'3)"##'$E(01&/*$*)'34*(9')(4635+*4/*"#)('/(0'(#'(359*%'34*(-4)(9'(-G34)')
."!-$C/')(L(0'($')(7"3!&$'34*(9*3'./'!'#/(:($1"34$(-'#94#/(!"#(',-")5(9'+4#/($'(0&3T=

56L6H6&7$&1KM1"K$&08(.)K,%JG)(,.&$)&0"&G,.G0J-(,.

kD'/%'R.@$',.#'/+?DA?%>'J%#'7'#%J$A"/#'%##%/$A%DD%#'&./#'@/'%B,"#+W'HQA/$>"&@J$A"/'#%>$'&%
?@A&%'%$'D.'J"/JD@#A"/'&"A$'D.A##%>'D%'M@>)'#@>'@/%'("//%'A<,>%##A"/W'kD'%#$'&"/J
>%J"<<./&+'&%'D%#',>+,.>%>'#"A?/%@#%<%/$8'E"A>%'&%'>+&A?%>'D%#',>%<AY>%#',->.#%#'#@>'D%
(>"@ADD"/W

!"@>']$>%'%{J.J%8'45()*-%/&0*(%)ZT'DQ%B,"#+'&"A$'K

! 6B,"#%>'D%',>"(DY<%'K'J"/$%B$%'%$'A<,">$./J%'|

! !>+#%/$%>'(>AYE%<%/$'D%#'&"J@<%/$#'K'#"@>J%#'%$'J"/$%/@'%##%/$A%D'|

! I"><@D%>'D.',>"(D+<.$AF@%'|

! =//"/J%>'D%',D./W

6/'J%'F@A'J"/J%>/%'4G#0%)04&'(%)8'%DD%'&"A$'K

! 5+,"/&>%'JD.A>%<%/$'T'D.',>"(D+<.$AF@%'|

! 5+J.,A$@D%>'D%'J"/$%/@'%##%/$A%D'&@'&+E%D",,%<%/$W

;$%.:+)0<=:0$)>)?<.9=?)7
" >==9<>R&3>&S?DP>&3TC+;>!&U
~!>"&@J$A"/'">.D%'G=HI'2:~'%#$'E"$>%'?@A&%',"@>'@/%
!"#$

,>+,.>.$A"/'J"<,DY$%8'.E%J'"@'#./#',>"R%##%@>W

8"#$%#&90/%)6%#',%-&./0#1:#;#!3#4*)56%/7
C%'E"ADT',>]$'T',>+#%/$%>'DQ%B,"#+'&%E./$'D%'M@>)'L'=E./$'$"@$%'J-"#%8'M%'/Q"@(DA%',.#'D.
$%J-/AF@%'&%'(.#%'&Q@/'%B,"#+'">.D'K'$"@$'%/'J"/#@D$./$'<%#'/"$%#8'M%'<.A/$A%/#'@/'J"/$.J$
EA#@%D'.E%J'D%'M@>)W

!.>'.ADD%@>#8'!"#"$"%&'3Z,%/&./$':9'<A/@$%#'#./#'A/$%>>@,$A"/'&@'M@>)'/Q%#$',.#'@/
%B%>JAJ%'R.JAD%W'q%'&"A#'E%ADD%>'T'?.>&%>'J"/#$.<<%/$'D%'J"/$>sD%'K

&@'*"27''K'M%'/%'>%#$%',.#'$>",'D"/?$%<,#'#@>'D.',>%<AY>%',.>$A%8',.>'%B%<,D%'L

&@'0%)*")&'K'M%'#@A#'<"/',D./'&+$.ADD+',"@>'/%',.#'"@(DA%>'D%#',"A/$#'A<,">$./$#W

&%'D.'4G)?&"'K'M%'J">>A?%'<"Ah<]<%'<%#'%>>%@>#'J-.F@%'R"A#'F@%'JQ%#$'/+J%##.A>%W

t
/"&/('#(."#)&$/4#/(!')(#"/')E(0'(!4*#/*'#)(&#(."#/4./(+*)&'$(4+'.($'(0&3T

H656&78D:!/TP?D=&;8>V+T=Q

q%'J"<<%/J%'D"?AF@%<%/$',.>'DQA/$>"&@J$A"/'F@%'MQ.A',>+,.>+%'&./#'D.',-.#%'&%
,D./AlJ.$A"/W'!.>'%B%<,D%'K

f'G./#'D%#'/"<(>%@B'&A#J"@>#'#@>'D%'>+J-.@`%<%/$'JDA<.$AF@%8'"/',.>D%',%@'&@'>sD%
A<,">$./$'F@%'M"@%'D%'/@<+>AF@%8'J%'F@A'%/'R.A$'@/%'#"@>J%'&%',"DD@$A"/'f'J.J-+%'gW'I.J%'T
J%',>"(DY<%8'D%',>%<A%>'&"J@<%/$8'%B$>.A$'&@'A*%43"'&%'M@A/'797:8'+E"F@%'@/%',>","#A$A"/
&%'D"A'F@A'EA#%'T'>+&@A>%'DQA<,.J$'&@'/@<+>AF@%'#@>'DQ%/EA>"//%<%/$'%/'.?A##./$'#@>'7
D%EA%>#'K'>+&@A>%'DQ"(#"D%#J%/J%'&%#'D"?AJA%D#'%$'.,,>%/&>%'.@B'@#.?%>#'T'DA<A$%>'D.
J"/#"<<.$A"/'&Qk/$%>/%$W'G./#'D%'#%J"/&'&"J@<%/$8'%B$>.A$'&@'<.?.OA/%'<3.G*!4%Z&%'<.A
797:8'@/'#"/&.?%'#@>'D%#'@#.?%#'&@'/@<+>AF@%'>+EYD%'F@%'D.'<.M">A$+'&%#'I>./^.A#'/Q"/$
,.#'J"/#JA%/J%'F@%'D%@>'@$ADA#.$A"/'&Qk/$%>/%$'%#$'@/%'#"@>J%'&%',"DD@$A"/W'C.A#'.D">#8
J"<<%/$'D@$$%>'J"/$>%'D.',"DD@$A"/'/@<+>AF@%'P'G./#'@/',>%<A%>'$%<,#8'M%'&+J>A>.A'D.',.>$
&@'/@<+>AF@%'&./#'D%'J-./?%<%/$'JDA<.$AF@%W'6/#@A$%8'M%'<"/$>%>.A'F@%'J%$$%',"DD@$A"/
#Q%B,DAF@%',.>'&%#'J.@#%#'T'D.'R"A#'<.$+>A%DD%#'%$'A<<.$+>A%DD%#W'6/l/8'M%',>","#%>.A'&%#
#"D@$A"/#',%><%$$./$'&%'>+&@A>%'D.',"DD@$A"/'DA+%'.@B'+F@A,%<%/$#'.A/#A'F@QT'/"#'@#.?%#
&Qk/$%>/%$W'g

H6H6&7>&PQW>;T++>&C>=&9/S?C>:!=

6/#@A$%8'M%'&+E%D",,%'<%#'[',.>$A%#'#@JJ%##AE%#W

C"/'#"@JA'J"/#$./$8'J%'&"A$']$>%'D.'JD.>$+'L'q%',>%/&#'D%'$%<,#'&%'(A%/'&+E%D",,%>'<%#
.>?@<%/$#'.E%J'&%#'A&+%#'#%J"/&.A>%#'%$'&%#'%B%<,D%#W'qQ%B,"#%'<.'>+p%BA"/',%>#"//%DD%
.E%J',>+JA#A"/'%$'/@./J%'%/'%<,D")./$'@/'E"J.(@D.A>%'>AJ-%'%$'E.>A+',"@>'&+J>A>%'&%#'R.A$#8
%B,>A<%>'@/%'",A/A"/8',>","#%>'&%#'#"D@$A"/#8'%$JW'G%'<]<%8'M%',%/#%'T'E.>A%>'D.
J"/#$>@J$A"/'&%#',->.#%#'%/'+EA$./$'D%#',->.#%#'$>",'J"@>$%#'"@'$>",'#A<,D%#W'`*(0'(#'
/3"&+'(-4)(&#(!"/E()&3/"&/(0'(#'(6$"2&'(-4)(L(0'(74*)(&#'(-53*-G34)'("&(0'(3'7"3!&$'(/"&/'(!4
-G34)'=

GQ.@$>%',.>$8'M%'R.A#'&%#'$>./#A$A"/#',"@>'#A?/.D%>'D%',.##.?%'%/$>%'D%#',.>$A%#'&%'<"/
&+E%D",,%<%/$W'G%',D@#8'MQ@$ADA#%'&%#'J"//%J$%@>#'E.>A+#',"@>'>%DA%>'D%#'A&+%#W'3"@$'J%D.'.l/
&%'&"//%>'.@'M@>)'@/%'A<,>%##A"/'&%'p@A&A$+'"e'D%#'.>?@<%/$#'#Q%/J-.o/%/$'#./#'&A{J@D$+W

t
@1',-")5(9"*/(9"##'3(&#'(*!-3'))*"#(9'(I&*9*/5("a($')(43%&!'#/)
)1'#.G4b#'#/()4#)(9*c.&$/5=

6/l/8'M%'E%ADD%'T'>%R"><@D%>'D%#'A/R"><.$A"/#'%B$>.A$%#'&%#'&"J@<%/$#8',"@>'&+<"/$>%>'<.
J.,.JA$+'T'<Q%B,>A<%>'.E%J'<%#',>",>%#'<"$#W'3"@$%R"A#8'M%',%@B'JA$%>'J%>$.A/%#',->.#%#'#A
M%'D%'M@?%'/+J%##.A>%8'%/'@$ADA#./$'&%#'R"><@D%#'.&+F@.$%#'J"<<%'f'DQ.@$%@>'.{><%8'M%'JA$%8
F@%r'g

H6L6&7>&3T:3;?=&;8>V+T=Q

6/l/8'M%',.##%'T'D.'J"/JD@#A"/W'!.>'%B%<,D%'K

f'6/'&+l/A$AE%8'&%#'#"D@$A"/#'%BA#$%/$',"@>'D@$$%>'J"/$>%'D.',"DD@$A"/'/@<+>AF@%'%$'AD'/%
R.@&>.A$',D@#'.$$%/&>%',"@>'D%#'.,,DAF@%>W'6/'%`%$8'MQ.A'<"/$>+'D.',.>$'?>./&A##./$%'&@
/@<+>AF@%'&./#'D%#'+<A##A"/#'&%'?.O'T'%`%$'&%'#%>>%W'6$'.E%J'D%#'"(M%$#'J"//%J$+#'.A/#A
F@%'D.'?+/+>.DA#.$A"/'&@'$+D+$>.E.AD8'J%D.'/%'>A#F@%',.#'&%'#Q.>>./?%>'&./#'@/'.E%/A>',>"J-%W
z"@#'.E"/#'E@',.>'.ADD%@>#'F@%'D.',"DD@$A"/'/@<+>AF@%',>+#%/$%'&%#'J.@#%#'<.$+>A%DD%#'%$
A<<.$+>A%DD%#W'2%'#"/$8'&Q@/%',.>$8'D.'R.(>AJ.$A"/'%$'DQ@#.?%'&%#'.,,.>%AD#'F@A'%/?%/&>%/$'@/
+/"><%'?.#,ADD.?%8'&Q.@$>%',.>$'DQA/J"/#JA%/J%'&%#'A/$%>/.@$%#8'F@A'J"/#"<<%/$'&%#
<+&A.#'T'R">$'A<,.J$'#@>'DQ%/EA>"//%<%/$8'%/',.>$AJ@DA%>'D%#'EA&+"#W'I.J%'T'J%',-+/"<Y/%8
AD'&%EA%/$'@>?%/$'&Q.@?<%/$%>'D.'&@>+%'&%'EA%'&%'/"#'.,,.>%AD#'%$'&Q",$A<A#%>'D%@>
R"/J$A"//%<%/$W'!.>'.ADD%@>#8',D@$s$'F@Q@/%'/"@E%DD%'D"A8'JQ%#$'@/%'#%/#A(ADA#.$A"/'%{J.J%
&%#'@#.?%>#8'<.A#'.@##A'&%#'%/$>%,>A#%#'&@'/@<+>AF@%8'F@A'R%>.'D.'&A`+>%/J%',"@>'DQ.E%/A>W
g

IA/.D%<%/$8',"@>'JDs$@>%>'<"/'%B,"#+8'MQ%<,D"A%'@/%'R"><@D%'-.(A$@%DD%'J"<<%'f'q%'E"@#
>%<%>JA%'&%'<Q.E"A>'+J"@$+W'g'*@>$"@$8'MQ+EA$%'&%#',->.#%#'J"<<%'f'N"ADT8'MQ.A'l/A'g'"@'f
2Q%#$'$"@$'L'g'F@A'/%'<%$$%/$',.#'<"/'%B,"#+'%/'E.D%@>W

@$%&%)A)0:-?B8$%)0$
43C
" !Q;Q3O9/S>R&;8>XYTTZ&S/9!?D!>C>:!
U
%&'!&()'!"#$'*

G6HI'"@'32I'P'2"<<%/$'J-"A#A>'@/'%B.<%/'P
2"<<%/$'#Q)',>+,.>%>'P'2%$'%h(""j'.@'R"><.$
!GI'%#$'"`%>$'.@B'.("//+#'&%'2"<<@/'R>./^.A#W

D)E."%)F
6$'E"@#'P'2"<<%/$'R%>A%OhE"@#'P'4A%/'%/$%/&@8'AD'/Q)'.',.#'&%'<+$-"&%'@/AF@%',"@>'>+@##A>
@/'%B,"#+'&@'G=HI'2:W'2Q%#$'T'E"@#'&Q.&",$%>'D%#'$%J-/AF@%#'F@A'E"@#'J"/EA%//%/$W'B"-0(
/"#7G-*G?"-#$%'#'*-G*8?("'#"*#$%'#"678-(")0"'#/G)'#4"'#0%22")*G(-"'O

!"@>'.DD%>',D@#'D"A/8'E"@#',"@>>%O'.,,>%/&>%'T'<%$$>%'&%#'.>?@<%/$#'%/'E.D%@>W

2%'<"&YD%',"@>'@/'%B,"#+'&@'G=HI'2:'%#$'%B$>.A$'&%'<"/'DAE>%'D3"9&./*"#("34$'(K<@A(PN=

q%'E"@#'A/EA$%'T'J"/#@D$%>'+?.D%<%/$'<%#'<"&YD%#',"@>'D.',>"&@J$A"/'+J>A$%'G=HI'2:'K'D.
#)/$-Y#%'%$'DQ%##.A'.>?@<%/$+W

!"#$%&'()'*$+,-./%' 0 '1231456'778'797:' 0 ';'2"<<%/$#

!"##$%&'()*

=>?@<%/$.$A"/8'6B,"#+8'C"/"D"?@%'#@AEA8'!D./'./.D)$AF@%

+,-)$%&(.

G=HI'2:8'!>"&@J$A"/'">.D%

/$0")$%&1,-)-

">.D'G=HI'2:

!>"&@J$A"/'">.D%'G=HI'2:'K *@M%$'&%',>"&@J$A"/'">.D% C%$$>%'&%#'.>?@<%/$#'%/


D%'DAE>%'%#$'#">$A'L G=HI'2: E.D%@>

2&3,44$.)-

Vous aimerez peut-être aussi