'HOO /DWLWXGH &3 *8,'( '( 5e)e5(1&( (7 '( 'e3$11$*( ZZZ GHOO FRP
/HV LQIRUPDWLRQV GH FH GRFXPHQW VRQW VXMHWWHV j PRGLILFDWLRQ VDQV SUpDYLV ¤ 'HOO &RPSXWHU &RUSRUDWLRQ 7RXV GURLWV UpVHUYpV /D UHSURGXFWLRQ GH TXHOTXH PDQLqUH TXH FH VRLW VDQV O DXWRULVDWLRQ pFULWH GH 'HOO &RPSXWHU &RUSRUDWLRQ HVW VWULFWHPHQW LQWHUGLWH 0DUTXHV XWLOLVpHV GDQV FH WH[WH 'HOO OH ORJR GpSRVpH GH 'HOO &RPSXWHU &RUSRUDWLRQ ,QWHO HW 3HQWLXP VRQW '(// /DWLWXGH HW 'HOO 'LPHQVLRQ 0LFURVRIW 06 '26 :LQGRZV GHV PDUTXHV GpSRVpHV HW 00; HW VRQW GHV PDUTXHV GpSRVpHV HW :L
),/( /2&$7,21 .
),/( /2&$7,21 .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? 6, )0 4XDQG YRXV rWHV DVVLV DVVXUH] YRXV TXH OH SRLGV GH YRV MDPEHV HVW VXU YRV SLHGV HW QRQ VXU O DYDQW GH YRWUH FKDLVH $MXVWH] OD KDXWHXU GH YRWUH FKDLVH RX XWLOLVH] XQ UHSRVH SLHGV VL QpFHVVDLUH SRXU FRQVHUYHU XQH SRVLWLRQ FRUUHFWH 35(&$87,21 9RXV QH GHYH] DFFpGHU j O LQWpULHXU GH YRWUH RUGLQDWHXU TXH ORUV GH O LQVWDO ODWLRQ GH PRGXOHV GH PpPRLUH 3RXU pYLWHU GHV GRPPDJHV SRVVLEOHV j OD FDUWH V\VWqPH DWWHQGH] FLQT VHFRQGHV D
),/( /2&$7,21 .
),/( /2&$7,21 .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? 35 )0 $XWUHV GRFXPHQWV XWLOHV 2XWUH FH *XLGH GH UpIpUHQFH HW GH GpSDQQDJH OD GRFXPHQWDWLRQ HQ OLJQH VXLYDQWH HVW LQFOXVH DYHF YRWUH V\VWqPH /H *XLGH G XWLOLVDWLRQ GX V\VWqPH EDVp VXU :LQGRZV FRQWLHQW OHV LQIRUPDWLRQV HVVHQWLHOOHV G XWLOLVDWLRQ GH YRWUH RUGLQDWHXU SRUWDEOH &KHU FKH] O LF{QH GX *XLGH G XWLOLVDWLRQ GX V\VWqPH GDQV OH GRVVLHU GHV $FFHVVRLUHV 'HOO /HV 4 5 'HOO IRXUQLVVHQW GHV UpSRQVHV UDSLGHV HW GpWDLOOpHV DX[ TXHVWLRQV VRXYHQW
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? 35 )0 &RQYHQWLRQV W\SRJUDSKLTXHV /HV OLJQHV GH V\QWD[H FRQVLVWHQW HQ XQH FRPPDQGH DYHF WRXV VHV SDUDPqWUHV SRVVLEOHV /HV FRPPDQGHV /D OLVWH VXLYDQWH GpILQLW VL QpFHVVDLUH HW LOOXVWUH OHV FRQ VRQW SUpVHQWpHV HQ PLQXVFXOHV HW HQ FDUDFWqUHV JUDV YHQWLRQV W\SRJUDSKLTXHV XWLOLVpHV FRPPH DLGHV YLVXHOOHV OHV SDUDPqWUHV YDULDEOHV SRXU O LGHQWLILFDWLRQ G pOpPHQWV SDUWLFXOLHUV GX WH[WH GDQV FH GRFXPHQW /H VRQW HQ PLQXVFXOHV HW HQ L
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? 35 )0 '(// &21),'(17,$/ 3UHOLPLQDU\ [LL
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? %.
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? %. 72& 'LVSOD\ 7LPH 2XW GpODL GH O DIILFKDJH 'RFNLQJ 6WDWXV pWDW G DPDUUDJH ([WHUQDO &DFKH PpPRLUH FDFKH H[WHUQH ([WHUQDO +RW .H\ WRXFKH G DFFqV UDSLGH H[WHUQH ,QIUDUHG 'DWD 3RUW ,QIUDUHG 0RGH ,QWHOOL6SLQ SRUW GH GRQQpHV LQIUDURXJH PRGH LQIUDURXJH URWDWLRQ LQWHOOLJHQWH ,QWHUQDO +DUG 'ULYH
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? %.
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? %.
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? %.
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? %.
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? %. 72& $QQH[H & 5pJOHPHQWDWLRQV & 5pJOHPHQWDWLRQ )&& GH FODVVH % (WDWV 8QLV VHXOHPHQW & ([LJHQFHV GX PRGHP & 7\SH GH VHUYLFH
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? %. 72& ,OOXVWUDWLRQV )LJXUH 9XH DYDQW GH O RUGLQDWHXU )LJXUH 9XH DUULqUH GH O RUGLQDWHXU )LJXUH 3DJHV HW GX SURJUDPPH GH FRQILJXUDWLRQ GX V\VWqPH )LJXUH 3DJHV HW GX SURJUDPPH GH FRQILJXUDWLRQ GX V\VWqPH )LJXUH $GDSWDWHXU
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 &KDSLWUH ,QWURGXFWLRQ YHQWLODWHXU FRQQHFWHXU SDUDOOqOH KDXW SDUOHXU FRQQHFWHXU 86% SDQQHDX GHV YR\DQWV G pWDW IHQWH GH VpFXULWp FRQQHFWHXU G DPDUUDJH SRXU FkEOH SRUWH GX FRQQHFWHXU G DPDUUDJH XQLWp GH GLVTXH GXU FRQQHFWHXU VpULH FRQQHFWHXU GX PRQLWHXU FRQQHFWHXU 36 / ©RUGLQDWHXU SRUWDEOH 'HOO /DWLWXGH EDLH GH FDUWH 3& SRUW LQIUDURXJH &3 HVW XQ V\V 00; HW 3&, 3HULSKHUDO &RPSRQHQW ,QWHUFRQQHFW WqPH PXOWL
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 SRXFHV RX XQ pFUDQ FRXOHXU ;*$ ([WHQGHG *UDSKLFV $UUD\ PDWULFH JUDSKLTXH pWHQGXH PDWULFH DFWLYH GH FP SRXFHV j &' 520 XQH XQLWp GH GLVTXHWWH RX XQH VHFRQGH UpVROXWLRQ EDWWHULH 3RXU UHQGUH O RUGLQDWHXU DXVVL OpJHU TXH [ 8QH EDLH PRGXODLUH TXL VXSSRUWH XQH XQLWp SRVVLEOH ORUVTXH YRXV YR\DJH] XWLOLVH] OH PRGXOH GH YR\DJH VSpFLDO GDQV OD EDLH PRGXODLUH &DSDFLWp PXOWLPpGLD WRWDOH JUkFH DX[ IRQFWLR
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 YHUURX GH O pFUDQ pFUDQ PLFURSKRQH ERXWRQ G DOLPHQWDWLRQ FODYLHU SDQQHDX GHV YR\DQWV G pWDW WDSLV WDFWLOH FRPSDUWLPHQW GH OD EDWWHULH DGPLVVLRQ G DLU ERXWRQV GX WDSLV WDFWLOH FRQQHFWHXU GH O DGDSWDWHXU &$ SULVHV DXGLR EDLH PRGXODLUH KDXW SDUOHXU 8Q WDSLV WDFWLOH FRPPH GLVSRVLWLI GH SRLQWDJH SRXU G DXWUHV RUGLQDWHXUV DYHF OH V\VWqPH 'HOO OHV XWLOLVDWHXUV JDXFKHUV HW GURLWLHUV /HV ERXWRQV GH /DWLWXGH &3 JDXFKH HW GH GURL
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 GLVSRVLWLIV H[WHUQHV ,O \ D pJDOHPHQW XQ FRQQHFWHXU GH PRQLWHXU SRXU DWWDFKHU XQ PRQLWHXU H[WHUQH j YRWUH RUGLQDWHXU HW XQ FRQQHFWHXU 86% TXL VXSSRUWH OHV SpULSKpULTXHV DXWRQRPHV HW OHV FHQWUHV GH FRPPXWDWLRQ '(// &21),'(17,$/ 3UHOLPLQDU\ *XLGH GH UpIpUHQFH HW GH GpSDQQDJH GX 'HOO /DWLWXGH &3
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 R 8Q SRUW LQIUDURXJH TXL SHUPHW OH WUDQVIHUW GH ILFKLHUV LQGLTXH] YRWUH DFFRUG HQ WDSDQW VDQV XWLOLVHU GH FRQQH[LRQ GH FkEOH /H SRUW HVW FRP WqPH YRXV OH GHPDQGH 7HUPLQH] HQVXLWH O LQVWDOODWLRQ GH SDWLEOH DYHF OH VWDQGDUG ,U'$ YRWUH V\VWqPH G H[SORLWDWLRQ $VVRFLDWLRQ >,U'$@ ,5 UDSLGH ,QIUDUHG 'DWD RXL ORUVTXH OH V\V HW OH VWDQGDUG ,U'$ (QVXLWH XWLOLVH] OH &UpDWHXU GH GLVTXHWWHV GH SURJUDPPH ,5 OHQW SRXU XQH XW
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 /HV LQVWUXFWLRQV VXU OD FRQQH[LRQ RX O LQVWDOODWLRQ GH FHV RSWLRQV VH WURXYHQW GDQV OH *XLGH G XWLOLVDWLRQ GX V\VWqPH HQ OLJQH RX GDQV OH NLW G H[WHQVLRQ OLYUp SDU 'HOO 3RXU LPSULPHU XQ pFUDQ GX *XLGH G XWLOLVDWLRQ GX V\VWqPH HQ OLJQH DIILFKH] OH HW VpOHFWLRQQH] ,PSULPHU UXEULTXH GDQV OH PHQX )LFKLHU 3RXU LPSULPHU GHV IHQrWUHV DXWR PDWLTXHV SRS XS RXYUH] OD IHQrWUH HQ TXHVWLRQ FOLTXH] VXU OH ERXWRQ GURLW GX WDSLV WDFWLOH SXLV
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 &KDSLWUH 8WLOLVDWLRQ GX SURJUDPPH GH FRQILJXUDWLRQ GX V\VWqPH $ 6L O RUGLQDWHXU XWLOLVH OH V\VWqPH G H[SORLWD FKDTXH IRLV TXH YRXV DOOXPH] YRWUH RUGLQDWHXU FHOXL FL FRPSDUH OH PDWpULHO LQVWDOOp DYHF OHV LQIRUPD WLRQ 0LFURVRIW :LQGRZV WLRQV GH FRQILJXUDWLRQ GX V\VWqPH VWRFNpHV GDQV OD OHPHQW XWLOLVHU OH &HQWUH GH FRQWU{OH 'HOO 195$0 6L OH V\VWqPH GpWHFWH XQH GLIIpUHQFH LO JpQqUH SRXU DIILFKHU HW PRGLILHU OD FRQILJXUDWLRQ G
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 6RXV OHV GHX[ V\VWqPHV G H[SORLWDWLRQ DSSX\H] VXU $LGH (FKDS! SRXU TXLWWHU OH SURJUDPPH GH FRQILJXUDWLRQ GX /D ERvWH GDQV OD PRLWLp VXSpULHXUH GURLWH GHV pFUDQV V\VWqPH 6L YRXV PRGLILH] OH SDUDPqWUH G XQH RSWLRQ TXL HW DIILFKH XQH LQIRUPDWLRQ G DLGH SRXU O RSWLRQ UHTXLHUW OH UpDPRUoDJH GH O RUGLQDWHXU DILQ GH SUHQGUH GRQW XQ FKDPS HVW HQ VXUEULOODQFH HIIHW TXLWWH] OH V\VWqPH G H[SORLWDWLRQ oDJH DYDQW OH UpDPRU /H WH[WH
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 RSWLRQV DLGH ERvWH GH WLWUH 'HOO &RPSXWHU &RUSRUDWLRQ ZZZ GHOO FRP 'HOO /DWLWXGH &3 6HWXS 3DJH RI 7LPH 'DWH )UL 1RY ,QWHUQDO +DUG 'ULYH 0% 'LVNHWWH 'ULYH $ 'LVNHWWH 'ULYH % 'LVNHWWH 5HFRQILJ 0RGXODU %D\ 1RW ,QVWDOOHG $Q\ 7LPH 0RGXODU %D\ 'LVNHWWH 'ULYH 'RFNLQJ 6WDWXV 8QLYHUVDO &RQQHFW 8QGRFNHG (QDEOHG %RRW 6SHHG %RRW 6HTXHQFH 0+] 'LVNHWWH )LUVW FKDQJH ILHOGV FKDQJH YDOXHV 7KLV FDWHJRU\
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 'HOO &RPSXWHU &RUSRUDWLRQ ZZZ GHOO FRP 'HOO /DWLWXGH &3 6HWXS 3DJH RI /HIW %DWWHU\ %,26 9HUVLRQ $;; 5LJKW %DWWHU\ %DWWHU\ 1RW ,QVWDOOHG &KDUJHG %DWWHU\ 6WDWXV ,GOH %DWWHU\ 6WDWXV 1RW ,QVWDOOHG $GGLWLRQDO EDWWHULHV DQG RWKHU DFFHVVRULHV DUH DYDLODEOH IURP ZZZ GHOO FRP $OW 3 SDJH 'HOO &RPSXWHU &RUSRUDWLRQ ZZZ GHOO FRP 'HOO /DWLWXGH &3 6HWXS 3DJ
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 2SWLRQV GH FRQILJXUDWLRQ GX 35(&$87,21 V\VWqPH /HV IRQFWLRQV GH PRW GH SDVVH IRXUQLVVHQW XQ KDXW QLYHDX GH VpFXULWp SRXU OHV GRQQpHV GH YRWUH RUGLQDWHXU &HSHQGDQW HOOHV QH /HV VRXV VHFWLRQV VXLYDQWHV H[SOLTXHQW HQ GpWDLO OHV VRQW SDV j O DEUL GH SHUVRQQHV PDO LQWHQWLRQQpHV 6L RSWLRQV GX SURJUDPPH GH FRQILJXUDWLRQ GX V\VWqPH /HV YRV GRQQpHV UHTXLqUHQW SOXV GH VpFXULWp YRXV rWHV VRXV VHFWLRQV VRQW HQ RUGUH DOSKDEpWLTXH UHVSRQ
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 $XGLR 0RGH PRGH DXGLR YRWUH RUGLQDWHXU DYHF O DOLPHQWDWLRQ GH OD EDWWHULH 'LV SOD\ 7LPH 2XW / RSWLRQ $XGLR 0RGH PRGH DXGLR YRXV DLGH j JpUHU OHV UHVVRXUFHV GH O RUGLQDWHXU HW GH VHV SpULSKpULTXHV H[WHUQHV VLRQ 6 ' 7LPH 2XW %ULJKWQHVV +DOI 'XSOH[ VHPL GXSOH[ SDU GpIDXW ¥ 9RXV SHU PHW GH OLUH GHV VRQV RX G HQUHJLVWUHU GHV VRQV YRXV 'LVN 7LPH 2XW 6XVSHQG 7LPH 2XW 6PDUW &38 0RGH /HV UpJODJHV GH FHWWH RSWLRQ VRQW
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 /H WHUPH DPRUoDJH %ULJKWQHVV OXPLQRVLWp IDLW UpIpUHQFH j OD SURFpGXUH GH GpPDUUDJH GH O RUGLQDWHXU 4XDQG YRXV DOOXPH] O RUGLQD WHXU LO V DPRUFH SRXU DWWHLQGUH VRQ pWDW GH IRQFWLRQQH PHQW HQ FKDUJHDQW GDQV OD PpPRLUH XQ SHWLW SURJUDPPH TXL OXL PrPH FKDUJH OH V\VWqPH G H[SORLWDWLRQ QpFHVVDLUH %RRW 6HTXHQFH LQGLTXH DX V\VWqPH R WURXYHU OHV ILFKLHUV %ULJKWQHVV OXPLQRVLWp YRXV SHUPHW GH VpOHFWLRQQHU OD OXPLQRVLWp GH O pFUDQ ORUVTX
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 'LVN 7LPH 2XW GpODL GX GLVTXH 'LVNHWWH 'ULYH $ XQLWp GH GLVTXHWWH $ 'LVN 7LPH 2XW GpODL GX GLVTXH YRXV SHUPHW GH GpWHUPL / RSWLRQ 'LVNHWWH 'ULYH $ QHU SHQGDQW FRPELHQ GH WHPSV YRWUH XQLWp GH GLVTXH GXU O HPSODFHPHQW GH O XQLWp GH GLVTXHWWH GH SRXFHV UHVWH LQDFWLYH DYDQW TXH VRQ PRWHXU QH V pWHLJQH SRXU pFR 0RGXODU %D\ QRPLVHU O pQHUJLH GH OD EDWWHULH OqOH XQLWp GH GLVTXHWWH $ EDLH PRGXODLUH 3DUDOOHO 3RUW RX 1RW ,QVWDO
),/( /2&$7,21 .
),/( /2&$7,21 .
),/( /2&$7,21 .
),/( /2&$7,21 .
),/( /2&$7,21 .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 /HV SDUDPqWUHV GH FHWWH RSWLRQ GDQV OHV UXEULTXHV $& VHFWHXU HW %DWWHU\ EDWWHULH 'LVDEOHG GpVDFWLYp 0LQXWH PLQXWH 0LQXWHV 0LQXWHV 0LQXWHV SDU GpIDXW /D UXEULTXH 7LPH KHXUH SHUPHW OD PLVH j O KHXUH GH O KRUORJH LQWHUQH GH O RUGLQDWHXU / KHXUH HVW HQUHJLVWUpH 0LQXWHV HQ IRUPDW j KHXUHV KHXUHV PLQXWHV VHFRQGHV PLQXWHV PLQXWHV 7LPH KHXUH 0LQXWHV PLQXWHV PLQXWHV XQ PRG
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 &KDSLWUH 'pSDQQDJH GH YRWUH RUGLQDWHXU 6 PHQW FH FKDSLWUH LQGLTXH OHV YpULILFDWLRQV LQLWLDOHV SRXU 9pULILFDWLRQV GH EDVH UpVRXGUH OHV SUREOqPHV GH EDVH GH O RUGLQDWHXU DLQVL TXH /D SURFpGXUH VXLYDQWH YRXV SHUPHW G HIIHFWXHU OHV YpULIL GHV SURFpGXUHV GH GpSDQQDJH GpWDLOOpHV ,O OLVWH OHV PHVVD FDWLRQV QpFHVVDLUHV SRXU UpVRXGUH FHUWDLQV SUREOqPHV GH JHV HW OHV FRGHV IODVK GX V\VWqPH OHXUV FDXVHV SRVVLEOHV EDVH GH O RUGLQDWHXU
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 $YH] YRXV UHoX XQ PHVVDJH RX XQ FRGH IODVK GX V\VWqPH" FkEOH 2XL G DGDSWDWHXU &$ 3DVVH] j OD VHFWLRQ VXU OHV PHVVDJHV HW OHV FRGHV SOXV ORLQ GDQV FH FKDSLWUH 1RQ 3DVVH] j O pWDSH 9pULILH] SXLV FRUULJH] VL QpFHVVDLUH OHV SDUDPq WUHV GH FRQILJXUDWLRQ GX V\VWqPH FRPPH LQGLTXp FkEOH G DOLPHQWDWLRQ DX FKDSLWUH ¦3HUVRQQDOLVDWLRQ GHV IRQFWLRQV GX GX VHFWHXU V\VWqPH§ YHUV OD VRXUFH VHFWHXU /H SUREOqPH HVW LO UpVROX
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 2EVHUYDWLRQ HW pFRXWH HW pFRXWH] OHV LQGLFDWLRQV GpFULWHV GDQV OH WDEOHDX 6L DSUqV DYRLU REVHUYp HW pFRXWp YRWUH RUGLQDWHXU YRXV / REVHUYDWLRQ HW O pFRXWH GH YRWUH RUGLQDWHXU VRQW LPSRU Q DYH] SDV UpVROX OH SUREOqPH YR\H] OD VRXV VHFWLRQ VXL WDQWHV SRXU GpWHUPLQHU OD VRXUFH G XQ SUREOqPH 2EVHUYH] YDQWH VXU OHV RSWLRQV GH FRQILJXUDWLRQ GX V\VWqPH 7DEOHDX ,QGLFDWLRQV GH OD URXWLQH G DPRUoDJH 5HSpUH] $FWLRQ 8Q PHVVDJH
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 2SWLRQV GH FRQILJXUDWLRQ GX V\VWqPH 0HVVDJHV HW FRGHV 9RXV SRXYH] IDFLOHPHQW FRUULJHU FHUWDLQV SUREOqPHV GX 9RV SURJUDPPHV G DSSOLFDWLRQ OH V\VWqPH G H[SORLWDWLRQ V\VWqPH HQ YpULILDQW OHV UpJODJHV GHV RSWLRQV GH FRQILJX HW O RUGLQDWHXU OXL PrPH SHXYHQW LGHQWLILHU GHV SUREOqPHV UDWLRQ GX V\VWqPH 4XDQG YRXV GpPDUUH] YRWUH RUGLQD HW YRXV DOHUWHU 4XDQG FHOD VH SDVVH XQ PHVVDJH SHXW WHXU LO YpULILH OHV LQIRUPDWLRQV GH FRQILJXUDWLRQ GX DS
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX 0HVVDJH 'DWD HUURU 0HVVDJHV G HUUHXU GX V\VWqPH VXLWH &DXVH $FWLRQ / XQLWp GH GLVTXHWWH RX GH GLV ([pFXWH] O XWLOLWDLUH DSSURSULp SRXU YpULILHU OD TXH GXU QH SHXW SDV OLUH OHV VWUXFWXUH GHV ILFKLHUV GH OD GLVTXHWWH RX GX GLVTXH GRQQpHV GXU 9RLU OD GRFXPHQWDWLRQ OLYUpH DYHF OH V\VWqPH G H[SORLWDWLRQ 'HFUHDVLQJ DYDLOD EOH PHPRU\ 8Q RX SOXVLHXUV PRGXOHV GH 9RLU OH GpSDQQDJH GH OD PpPRLUH SOXV ORLQ GDQV PpPRLUH S
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX 0HVVDJH (UURU UHDGLQJ 3&0&,$ FDUG 0HVVDJHV G HUUHXU GX V\VWqPH VXLWH &DXVH $FWLRQ / RUGLQDWHXU QH SHXW SDV LGHQWL 5HPHWWH] OD FDUWH 3& HQ SODFH RX HVVD\H] XQH ILHU OD FDUWH 3& DXWUH FDUWH 3& GRQW YRXV VDYH] TX HOOH IRQFWLRQQH 6L OH SUREOqPH SHUVLVWH YRLU OHV LQVWUXFWLRQV GH GpSDQQDJH G XQH FDUWH 3& SOXV ORLQ GDQV FH FKDSLWUH ([WHQGHG PHPRU\ VL]H KDV FKDQJHG *DWH $ IDLOXUH *HQHUDO IDLOXUH /D TXDQWLWp GH PpPRLUH
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX 0HVVDJH +DUG GLVN GULYH IDLOXUH 0HVVDJHV G HUUHXU GX V\VWqPH VXLWH &DXVH $FWLRQ / XQLWp GH GLVTXH GXU QH (WHLJQH] O RUGLQDWHXU UHWLUH] O XQLWp HW LQLWLDOLVH] UpSRQG SDV DX[ FRPPDQGHV O RUGLQDWHXU j SDUWLU G XQH GLVTXHWWH DPRUoDEOH GH O RUGLQDWHXU (WHLJQH] GH QRXYHDX O RUGLQDWHXU UpLQVWDOOH] O XQLWp HW UHGpPDUUH] O RUGLQDWHXU 6L OH SUREOqPH SHUVLVWH HVVD\H] XQH DXWUH XQLWp ([pFXWH] HQVXLWH OH JURXSH GH WHVWV GHV
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX 0HVVDJH .H\ERDUG VWXFN NH\ IDLOXUH 0HVVDJHV G HUUHXU GX V\VWqPH VXLWH &DXVH $FWLRQ 6L YRXV XWLOLVH] XQ FODYLHU RX XQ ([pFXWH] OH WHVW GHV WRXFKHV FRLQFpHV GHV GLDJ SDYp QXPpULTXH H[WHUQH XQ QRVWLFV 'HOO FkEOH RX XQ FRQQHFWHXU SHXW WUH VXU O XWLOLVDWLRQ GHV GLDJQRVWLFV 'HOO 3RXU OHV LQVWUXFWLRQV YRLU OH FKDSL rWUH OkFKH RX OH FODYLHU SHXW rWUH HQ SDQQH 6L YRXV XWLOLVH] OH FODYLHU LQWp JUp LO SHXW DYRLU XQ
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX 0HVVDJH 1R ERRW GHYLFH DYDLODEOH 0HVVDJHV G HUUHXU GX V\VWqPH VXLWH &DXVH $FWLRQ / RUGLQDWHXU QH WURXYH SDV 6L O XQLWp GH GLVTXHWWH HVW YRWUH XQLWp G DPRUoDJH O XQLWp GH GLVTXHWWH RX GH GLVTXH DVVXUH] YRXV TX LO \ D XQH GLVTXHWWH DPRUoDEOH GXU GDQV O XQLWp 6L O XQLWp GH GLVTXH GXU HVW YRWUH GLV SRVLWLI G DPRUoDJH DVVXUH] YRXV TXH O XQLWp HVW LQVWDOOpH ELHQ HQ SODFH HW SDUWLWLRQQpH FRPPH GLV SRVLWLI G DPRUoDJH
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX 0HVVDJH 6HHN HUURU 0HVVDJHV G HUUHXU GX V\VWqPH VXLWH &DXVH $FWLRQ /H V\VWqPH G H[SORLWDWLRQ QH 6L O HUUHXU DSSDUWLHQW j O XQLWp GH GLVTXHWWH SDUYLHQW SDV j WURXYHU XQH SLVWH HVVD\H] XQH DXWUH GLVTXHWWH GDQV O XQLWp 6L SDUWLFXOLqUH GH OD GLVTXHWWH RX O HUUHXU SHUVLVWH YRLU OD SURFpGXUH GH GpSDQQDJH GX GLVTXH GXU GH O XQLWp GH GLVTXHWWH SOXV ORLQ GDQV FH FKDSLWUH 6L O HUUHXU DSSDUWLHQW j O XQLWp GH GLVTXH GXU Y
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX 0HVVDJH 8QH[SHFWHG LQWHUUXSW LQ SURWHFWHG PRGH :DUQLQJ %DWWHU\ LV FULWLFDOO\ ORZ 0HVVDJHV G HUUHXU GX V\VWqPH VXLWH &DXVH $FWLRQ /H FRQWU{OHXU GX FODYLHU SHXW ([pFXWH] OH JURXSH GH WHVWV GH 5$0 HW OH WHVW GX DYRLU XQ SUREOqPH RX XQ FRQWU{OHXU GX FODYLHU GHV GLDJQRVWLFV 'HOO PRGXOH GH PpPRLUH LQVWDOOp OHV LQVWUXFWLRQV GX FKDSLWUH VXU O XWLOLVDWLRQ GHV SHXW rWUH OkFKH GLDJQRVWLFV 'HOO /D EDWWHULH HVW SUHVTXH j
),/( /2&$7,21 .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX &RGHV IODVK VXLWH 0HVVDJH &DXVH $FWLRQ 3DQQH GX UHJLVWUH ([pFXWH] OH JURXSH GHV WHVWV GH O HQVHPEOH GX V\VWqPH GHV GLDJQRVWLFV 'HOO SULQFLSDO G DFFqV 9RLU OH FKDSLWUH ¦([pFXWLRQ GHV GLDJQRVWLFV 'HOO§ SRXU OHV LQVWUXFWLRQV GLUHFW j OD PpPRLUH OH SURJUDPPH QH VH FKDUJH SDV DSSHOH] O DVVLVWDQFH WHFKQLTXH GH 'HOO LQVWUXFWLRQV YRLU OH FKDSLWUH VXU O REWHQWLRQ G DLGH 3DQQH GX UHJLVWUH $SSHOH] O DVVLV
),/( /2&$7,21 .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 /RUVTXH YRXV H[pFXWH] OD SURFpGXUH G LQVWDOODWLRQ VR\H] XWLOLVH] *DUGH] j O HVSULW TX j FKDTXH IRLV TXH YRXV FKDQ SUrW j UpSRQGUH DX[ GHPDQGHV G LQIRUPDWLRQV VXU OD FRQIL JH] OHV SDUDPqWUHV GH O HQYLURQQHPHQW G H[SORLWDWLRQ GH JXUDWLRQ GX V\VWqPH G H[SORLWDWLRQ GH YRWUH RUGLQDWHXU OH O RUGLQDWHXU YRXV SRXYH] DIIHFWHU OD UpXVVLWH GH O H[SORLWD W\SH GH YRWUH RUGLQDWHXU HW OHV SpULSKpULTXHV FRQQHFWpV j WLRQ GH YRV SURJUDPPHV 3DU
),/( /2&$7,21 .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 $OORFDWLRQ GH PpPRLUH 7DEOHDX &DUWH GH PpPRLUH VXSpULHXUH /H WDEOHDX UHSUpVHQWH OD UpSDUWLWLRQ GH OD ]RQH GH PpPRLUH FRQYHQWLRQQHOOH /RUVTXH OH PLFURSURFHVVHXU RX XQ SURJUDPPH DFFqGH j XQH VHFWLRQ GH OD PpPRLUH FRQ (WHQGXH G DGUHVVH 8WLOLVDWLRQ )& ¤ )))) YHQWLRQQHOOH LO V DJLW G XQ DGUHVVDJH SK\VLTXH GDQV OD =RQH GHV GRQQpHV GH VRXULV 36 VHFWLRQ GH OD PpPRLUH SULQFLSDOH 5(0$548( 3RXU DIILFKHU OHV DIIHFWDWLR
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX &DUWH GH PpPRLUH G ( 6 $GUHVVH 3pULSKpULTXH ¤ ) &RQWU{OHXU '0$ 1R 3URFpGXUHV GH GpSDQQDJH &HWWH VHFWLRQ IRXUQLW GHV SURFpGXUHV GH GpSDQQDJH SRXU OHV FRPSRVDQWV LQWHUQHV GH YRWUH RUGLQDWHXU PRGXOH GH PpPRLUH ¤ ) &RQWU{OHXU G LQWHUUXSWLRQ 1R ¤ ) 7HPSRULVDWHXUV GX V\VWqPH ¤ ) &RQWU{OHXU GX FODYLHU ¤ ) 57& HW 10, DFWLYpV ¤ ) 5HJLVWUHV GH SDJH '0$ $ ¤ %) &RQWU{OHXU G LQWHUU
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 $9(57,66(0(17 1 HIIHFWXH] O pWDSH GH OD SURFpGXUH VXLYDQWH TXH VL YRXV rWHV FRQYDLQFX GH VD FLUFXOHU DXWRXU GH OXL /DLVVH] O RUGLQDWHXU VpFKHU VUHWp 6L YRWUH RUGLQDWHXU HVW FRQQHFWp DX VHFWHXU SHQGDQW DX PRLQV KHXUHV 'HOO UHFRPPDQGH TXH YRXV pWHLJQLH] OH FRXUDQW DX GLVMRQFWHXU DYDQW G HVVD\HU GH GpEUDQFKHU 2XYUH] O pFUDQ HW PHWWH] O RUGLQDWHXU VXU GHX[ OLYUHV RX GHX[ REMHWV VHPEODEOHV SRXU ODLVVHU O DLU OHV 3O
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 / RUGLQDWHXU IRQFWLRQQH W LO FRUUHFWHPHQW" 2XL V\VWqPH RQW XQH HQFRFKH SRXU TXH OHV PRGXOHV GH PpPRLUH QH SXLVVHQW rWUH IHUPHPHQW PLV HQ SODFH /H SUREOqPH HVW UpVROX TXH G XQH VHXOH PDQLqUH 1RQ 6L O RUGLQDWHXU SHXW V DPRUFHU H[pFXWH] OHV GLD JQRVWLFV 'HOO SRXU LGHQWLILHU OHV GRPPDJHV GH O RUGL QDWHXU 9RLU OH FKDSLWUH ¦([pFXWLRQ GHV GLDJQRVWLFV TXH O XQLWp GH GLVTXH GXU HVW ELHQ LQVWDOOpH 'HOO§ SRXU GHV LQVWUXFWL
),/( /2&$7,21 .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 3DQQH GH FRXUDQW WRWDOH DYHF OD EDWWHULH /H YR\DQW GH EDWWHULH FOLJQRWH W LO DYHF XQH FRX OHXU YHUWH HW MDXQH" 6L XQ DGDSWDWHXU GX VHFWHXU Q HVW SDV EUDQFKp j O RUGLQD 2XL WHXU FHOXL FL HVW DOLPHQWp SDU EDWWHULH 6L OH YR\DQW GH EDW 9RWUH RUGLQDWHXU SHXW rWUH GDQV XQ HQYLURQQH PHQW FKDXG /H FKDUJHPHQW GH OD EDWWHULH GDQV FHV WHULH V DOOXPH PRPHQWDQpPHQW RX GH IDoRQ SHUPDQHQWH FRQGLWLRQV SHXW DIIHFWHU OD GXUpH GH YLH GH OD
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 $VVXUH] YRXV TXH O DGDSWDWHXU GX VHFWHXU HVW ELHQ 'pSDQQDJH GH O XQLWp GH GLVTXHWWH EUDQFKp j O RUGLQDWHXU HW j OD SULVH GX VHFWHXU RX YpULILH] TX XQH EDWWHULH FRPSOqWHPHQW FKDUJpH HVW 3HQGDQW OH WHVW GH GpPDUUDJH DXWRPDWLTXH O RUGLQDWHXU YpULILH O XQLWp GH GLVTXHWWH HW FRPSDUH VHV FDUDFWpULVWLTXHV GDQV VRQ FRPSDUWLPHQW DYHF FHOOHV GH FRQILJXUDWLRQ GX V\VWqPH $OOXPH] O RUGLQDWHXU / pFUDQ HVW LO DOOXPp" 'RQQH] XQH PLQXWH j O
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 'pSDQQDJH GH O XQLWp &' 520 $WWDFKH] O XQLWp GH GLVTXHWWH DX SRUW SDUDOOqOH ,QVpUH] XQH GLVTXHWWH DPRUoDEOH SXLV UHGpPDU 'XUDQW OHV WHVWV 3267 O RUGLQDWHXU YpULILH O XQLWp UH] O RUGLQDWHXU &' 520 HW FRPSDUH VHV FDUDFWpULVWLTXHV DYHF FHOOHV GH OD FRQILJXUDWLRQ GX V\VWqPH /H YR\DQW G DFFqV j O XQLWp FOLJQRWH SHQGDQW OD YpULILFDWLRQ GH O RUGLQDWHXU 5(0$548( 9pULILH] OHV ILFKLHUV DXWRH[HF EDW FRQILJ V\V SRXU O XQLWp '
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 5pDPRUFH] O RUGLQDWHXU /H YR\DQW G DFFqV j 5HPSODFH] YRWUH GLVTXHWWH GH GLDJQRVWLFV SDU OD O XQLWp FOLJQRWH WLO SHQGDQW OD URXWLQH G DPRUoDJH GLVTXHWWH GX V\VWqPH G H[SORLWDWLRQ HW UHGpPDUUH] HW O XQLWp DPRUFH W HOOH OH V\VWqPH G H[SORLWDWLRQ" O RUGLQDWHXU /H V\VWqPH G H[SORLWDWLRQ VH FKDUJH 2XL W LO" 6L XQ PHVVDJH DSSDUDvW j O pFUDQ YRLU OH OH WDEOHDX SRXU XQH H[SOLFDWLRQ GX PHVVDJH HW GHV 2XL DFWLRQV SRVVLEOHV
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 'pSDQQDJH GH OD PpPRLUH 5pDPRUFH] O RUGLQDWHXU 3HQGDQW OD URXWLQH G DPRUoDJH OHV YR\DQWV GH YHUURXLOODJH QXPpUL TXH GH PDMXVFXOHV HW GH GpILOHPHQW VXU OH FODYLHU 6L OH FRPSWH GH PpPRLUH DIILFKp GDQV OH SURJUDPPH GH FRQILJXUDWLRQ GX V\VWqPH HVW LQIpULHXU j OD TXDQWLWp GH H[WHUQH V DOOXPHQW LOV PRPHQWDQpPHQW" PpPRLUH LQVWDOOpH IDLWHV XQH FRSLH GH OD OLVWH GH YpULILFD 2XL 1RQ 3DVVH] j O pWDSH WLRQ GHV GLDJQRVWLFV GX FKDSL
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 GDQV XQH VHXOH GLUHFWLRQ /HV VXSSRUWV GH OD FDUWH 6L O RUGLQDWHXU HVW HQ IRQFWLRQQHPHQW DSSX\H] V\VWqPH RQW XQH HQFRFKH SRXU TXH OHV PRGXOHV GH VXU OH ERXWRQ G DOLPHQWDWLRQ SRXU VRUWLU GX PRGH PpPRLUH QH SXLVVHQW rWUH IHUPHPHQW PLV HQ SODFH VXVSHQVLRQ RX SRXU UpDFWLYHU O pFUDQ / pFUDQ HVW TXH G XQH VHXOH PDQLqUH LO FRPSOqWHPHQW OLVLEOH" $OOXPH] YRWUH RUGLQDWHXU SXLV DSSX\H] VXU OD 2XL FRPELQDLVRQ GH WRXFKHV )Q! ) !
),/( /2&$7,21 .
),/( /2&$7,21 .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 ,QVpUH] OD 'LVTXHWWH GH GLDJQRVWLFV 'HOO GDQV 9pULILH] OH SDUDPqWUH GH O RSWLRQ ,QIUDUHG 'DWD O XQLWp $ UpDPRUFH] O RUGLQDWHXU HW H[pFXWH] OH 3RUW JURXSH GHV WHVWV GHV SRUWV VpULH LQIUDURXJH HW RX JUDPPH GH FRQILJXUDWLRQ GX V\VWqPH &H SDUD GHV SRUWV SDUDOOqOHV PqWUH HVW LO FRUUHFW" 9RLU OHV LQVWUXFWLRQV GX FKD SLWUH VXU OHV GLDJQRVWLFV 'HOO SRUW GH GRQQpHV LQIUDURXJH GDQV OH SUR 3RXU GHV LQIRUPDWLRQV VXU OH SURJ
),/( /2&$7,21 .
),/( /2&$7,21 .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 3RXU FKRLVLU XQH RSWLRQ GDQV OH PHQX GHV GLDJQRVWLFV 'HOO &RPSXWHU &RUSRUDWLRQ PHWWH] O RSWLRQ HQ VXUEULOODQFH HW DSSX\H] VXU (QWUpH! 'LDJQRVWLFV GX 'HOO /DWLWXGH &3 RX DSSX\H] VXU OD WRXFKH FRUUHVSRQGDQW j OD OHWWUH HQ YDOHXU GDQV O RSWLRQ TXH YRXV FKRLVLVVH] 0(18 '( ',$*1267,&6 /HV LQIRUPDWLRQV VXU OHV GLDJQRVWLFV GH O pFUDQ SULQFLSDO VRQW SUpVHQWpHV GDQV OHV FLQT VHFWLRQV FL DSUqV 'HX[ OLJQHV HQ KDXW GH O pFUDQ LGHQWLILHQW OH
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 Dell Computer Corporation Dell Latitude CP Diagnostics Version X.XX *URXSHV GH WHVWV 5$0 (QVHPEOH V\VWqPH 9LGpR &ODYLHU 6RXULV 8QLWpV GH GLVTXHWWH 8QLWpV GH GLVTXH GXU QRQ 6&6, 8QLWpV GH &' 520 ,'( 3RUWV VpULH LQIUDURXJH 3RUWV SDUDOOqOHV 3pULSKpULTXHV 6&6, ,QWHUIDFH UpVHDX $XGLR &RQILJXUDWLRQ V\VWqPH 0pPRLUH 0R &DFKH VHFRQGDLUH 3URFHVVHXU V 3HQWLXP U 00; 86% ,QWHO U 9LGpR 69*$ .
),/( /2&$7,21 .
),/( /2&$7,21 .
),/( /2&$7,21 .
),/( /2&$7,21 .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 XQH LQWHUDFWLRQ GH O XWLOLVDWHXU GH V H[pFXWHU FRPPH ORUV TXH YRXV H[pFXWH] OHV GLDJQRVWLFV GXUDQW OD QXLW W\SH UHVXOW /H FRQWHQX GX ILFKLHU DSSDUDvW j O pFUDQ 'LVSRVLWLI GH VRUWLH GHV PHVVDJHV G pWDW $SUqV O H[pFXWLRQ GHV WHVWV GH GLDJQRVWLFV SDUWLFXOLHUV HW OD YLVXDOLVDWLRQ GHV PHVVDJHV G pWDW JpQpUpV SDU OHV WHVWV UHVXOW 2UGLQDLUHPHQW WRXV OHV PHVVDJHV G pWDW Q DSSDUDLVVHQW GDQV OH ILFKLHU TX j O pFUDQ &H SDUDPqWUH YRXV SHUP
),/( /2&$7,21 .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 '(// &21),'(17,$/ 3UHOLPLQDU\ ([pFXWLRQ GHV GLDJQRVWLFV 'HOO
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX 7HVWV GHV GLDJQRVWLFV 'HOO *URXSHV GH WHVWV 5$0 6RXV WHVWV 'HVFULSWLRQ 7HVW UDSLGH 7HVWHQW OD PpPRLUH 5$0 7HVW FRPSOHW 7HVW GX FDFKH VHFRQGDLUH (QVHPEOH V\VWqPH 7HVW GH ILDELOLWp GX &026 7HVWHQW OHV SXFHV GH VXSSRUW GH OD FDUWH 7HVW GX FRQWU{OHXU '0$ V\VWqPH OH FRQWU{OHXU '0$ OH FDGHQ 7HVW G KRUORJH WHPSV UpHO FHXU GH O RUGLQDWHXU OD PpPRLUH 7HVW GX KDXW SDUOHXU GX V\VWqPH 195$0 OH FRQWU{OHXU GX KDXW SDUOHXU
),/( /2&$7,21 .
),/( /2&$7,21 .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 /H SURJUDPPH GHV WHVWV GH 5$0 HVW GRWp G LQWHUUXSWHXUV PD[LPXP HW GLUHFWLRQ GHV UpVXOWDWV YHUV XQ ILFKLHU TXL YRXV SHUPHWWHQW j OD IRLV GH GpILQLU OHV OLPLWHV GHV QRPPp WHVWV HW OHXUV RSWLRQV GHSXLV O LQYLWH GH 06 '26 /HV j O LQYLWH GH 06 '26 HW DSSX\H] VXU (QWUpH! WDSH] OD OLJQH GH FRPPDQGH VXLYDQWH UDPWHVW U QS P RIUDPWVW USW LQWHUUXSWHXUV OLVWpV DX WDEOHDX SHXYHQW rWUH DMRXWpV j OD ILQ GH OD OLJQH GH FRPPDQGH UDPWV
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 3RXUTXRL WHVWHU OD PpPRLUH 5$0" 8QH PpPRLUH GpIHFWXHXVH SHXW FDXVHU XQH YDULpWp GH SUR EOqPHV TXL SHXYHQW QH SDV VHPEOHU DX SUHPLHU DERUG VXUYHQLU GDQV OD PpPRLUH 5$0 6L YRWUH RUGLQDWHXU DIIL FKH XQ RX SOXVLHXUV GHV V\PSW{PHV FL DSUqV H[pFXWH] OHV VRXV WHVWV GX JURXSH GHV WHVWV GH 5$0 SRXU YpULILHU TXH OD PpPRLUH QH VRLW SDV GpIHFWXHXVH 8Q SURJUDPPH QH IRQFWLRQQH SDV FRPPH G KDELWXGH RX XQH SDUWLH pSURXYpH GX ORJLFLHO VHPEOH QH S
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 8QH YpULILFDWLRQ GH SDULWp TXL YpULILH OD FDSDFLWp GX SDJH VRXV V\VWqPH GH OD PpPRLUH j GpWHFWHU OHV HUUHXUV HUUHXUV VRQW KDELWXHOOHPHQW DFFRPSDJQpHV G XQH j WRXW PRPHQW GXUDQW XQH H[SORLWDWLRQ &HV UpIpUHQFH j XQH DGUHVVH QRWH] OD VXU XQH FRSLH GH OD 8QH YpULILFDWLRQ GH UpJpQpUDWLRQ SRXU YpULILHU TXH OD OLVWH GH YpULILFDWLRQ GHV GLDJQRVWLFV WURXYpH DX FKDSL PpPRLUH G\QDPLTXH j DFFqV GLUHFW '5$0 HVW FRU WUH ¦2EWHQWLRQ G
),/( /2&$7,21 .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 3RXUTXRL WHVWHU OH FODYLHU" 7HVW GH OD PpPRLUH YLGpR 9pULILH OD FDSDFLWp GH OHFWXUH HW G pFULWXUH GH OD PpPRLUH YLGpR DYHF GHV PRGHV YLGpR YDULpV /HV SUREOqPHV GH FODYLHU QH VRQW SDV WRXMRXUV GXV DX FOD YLHU $LQVL XQ EORFDJH FRPSOHW GH O RUGLQDWHXU UHQGDQW OH FODYLHU LQFDSDEOH GH IRQFWLRQQHU D VDQV GRXWH XQH DXWUH 7HVW GX PDWpULHO YLGpR UDLVRQ 'HX[ V\PSW{PHV VRQW YUDLVHPEODEOHPHQW OLpV DX 9pULILH OHV UHJLVWUHV GX FXUVHXU HW O
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7HVW GH VpTXHQFH GHV WRXFKHV GX FODYLHU 8Q ERXWRQ GX WDSLV WDFWLOH RX GH OD VRXULV QH IRQF WLRQQH SDV GX WRXW 9pULILH TXH OHV WRXFKHV GX FODYLHU IRQFWLRQQHQW FRU UHFWHPHQW TXDQG YRXV DSSX\H] GHVVXV GDQV XQ RUGUH ULV H[WHUQH 7HVW LQWHUDFWLI GX FODYLHU 9pULILH OH PLFUR FRGH LQWHUQH GX FODYLHU HW O LQWHUIDFH H[WHUQH GH OD SXFH GH FRQWU{OH GX FODYLHU HQ FDV GH PDXYDLV IRQFWLRQQHPHQW G XQH WRXFKH /H FXUVHXU QH UpSRQG SDV V
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 OH EHVRLQ G H[pFXWHU XQ VRXV WHVW GX JURXSH GHV WHVWV GHV ELHQ TXH OH FRQWU{OHXU GH O XQLWp GH GLVTXH GXU XQLWpV GH GLVTXHWWH O DSWLWXGH GH OHFWXUH GHSXLV O XQLWp RX G pFULWXUH YHUV HOOH 8Q PHVVDJH G HUUHXU DSSDUDvW VXU O pFUDQ pWDEOLVVDQW TXH O RUGLQDWHXU QH SHXW SDV OLUH TXHWWH RX TX LO QH SHXW SDV \ j SDUWLU G XQH GLV pFULUH /H IRUPDWDJH G XQH GLVTXHWWH QH V HIIHFWXH SDV FRU UHFWHPHQW RX ELHQ GHV PHVVDJHV G HUUHXU GH I
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 6RXV WHVWV 7HVW GH UHFKHUFKH 9pULILH O DSWLWXGH GH O XQLWp j FKHUFKHU XQH SLVWH VSpFLILpH VXU O XQLWp HW j SRVLWLRQQHU OHV WrWHV GH OHFWXUH pFULWXUH GH O XQLWp VXU WRXWHV OHV SLVWHV /HV FLQT VRXV WHVWV GX JURXSH GHV WHVWV GHV XQLWpV &' 520 ,'( FRQILUPHQW OHV IRQFWLRQV VXLYDQWHV GHV XQLWpV )DLW H[pFXWHU VRQ DXWR WHVW LQWHUQH j O XQLWp 3RVLWLRQQH OHV WrWHV GH OHFWXUH pFULWXUH j FKDTXH F\OLQGUH GH O XQLWp HW YpULILH TXH WRXWHV O
),/( /2&$7,21 .
),/( /2&$7,21 .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 3RXUTXRL H[pFXWHU XQ JURXSH GH WHVWV GHV SpULSKpULTXHV 6&6," 7HVW GH OHFWXUH 3RVLWLRQQH OHV WrWHV GH OHFWXUH pFULWXUH VXU FKDTXH EORF GX SpULSKpULTXH SRXU OLUH OHV GRQQpHV HW YpULILH 6L YRXV YpULILH] YRWUH XQLWp GH GLVTXH GXU 6&6, SRXU TXH WRXWHV OHV SLVWHV GX SpULSKpULTXH SHXYHQW ELHQ GpWHUPLQHU OD TXDQWLWp G HVSDFH GLVSRQLEOH YRWUH V\VWqPH rWUH OXHV G H[SORLWDWLRQ LQGLTXH SUREDEOHPHQW GHV ]RQHV j SUREOq PHV /HV ]RQHV j SUREO
),/( /2&$7,21 .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 6RXV WHVWV /HV WURLV GHUQLHUV GHV VRXV WHVWV DXGLR VRQW LQWHUDFWLIV 'DQV OH WHVW GH OHFWXUH VRQRUH )0 HW GDQV OH WHVW GH OHF /HV VL[ VRXV WHVWV GX JURXSH GHV WHVWV DXGLR FRQILUPHQW OHV IRQFWLRQV VXLYDQWHV WXUH VRQRUH DQDORJXH XQH VpULH GH QRWHV GH PXVLTXH HVW MRXpH YLD OH 7HVW GH UHPLVH j ]pUR GX ORJLFLHO V \ QRWHV 7DSH] 9pULILH OD SUpVHQFH G XQ FRQWU{OHXU DXGLR DFWLI GDQV WDSH] YRWUH V\VWqPH KDXW SDUOHXUV V LQWpJUp V
),/( /2&$7,21 .
),/( /2&$7,21 .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 4 5 'HOO /HV 4 5 'HOO XQ ILFKLHU G DLGH HQ OLJQH VXU :LQGRZV DYHF OHV UpSRQVHV DX[ TXHVWLRQV OHV SOXV IUpTXHQWHV GHV XWLOLVDWHXUV GHV RUGLQDWHXUV 'HOO VRQW OLYUpHV DYHF FHU WDLQV V\VWqPHV 'HOO DFKHWpV DYHF :LQGRZV LQVWDOOp SDU 'HOO 3RXU DIILFKHU OHV 4 5 'HOO RXYUH] OH GRVVLHU GHV $FFHV VRLUHV 'HOO HW FOLTXH] GHX[ IRLV VXU O LF{QH 4 5 'HOO 6L YRXV YRXOH] SOXV G LQVWUXFWLRQV VXU O XWLOLVDWLRQ GHV 4 5 'HOO FOLTXH] VXU $LGH GDQV OD E
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 VHVVLRQ G $XWR7HFK HW OD UHSUHQGUH SOXV WDUG /H QXPpUR 3RXU OH QXPpUR GH WpOpSKRQH 7HFK)D[ j DSSHOHU YRLU GH FRGH TXH OH V\VWqPH $XWR7HFK YRXV DWWULEXH YRXV ¦1XPpURV GH FRQWDFW 'HOO§ SOXV ORLQ GDQV FH FKDSLWUH SHUPHW GH UHSUHQGUH YRWUH VHVVLRQ Oj R YRXV O DYH] LQWHUURPSXH 5(0$548( 7HFK)D[ Q HVW SDV GLVSRQLEOH SDUWRXW HQ GHKRUV GHV (WDWV 8QLV FRQWLQHQWDX[ 9HXLOOH] DSSHOHU /HV LQIRUPDWLRQV GLVSRQLEOHV DXSUqV GX V\VWqPH $XWR YR
),/( /2&$7,21 .
),/( /2&$7,21 .
),/( /2&$7,21 .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 )LJXUH /LVWH GH YpULILFDWLRQ GHV GLDJQRVWLFV '(// &21),'(17,$/ 3UHOLPLQDU\ *XLGH GH UpIpUHQFH HW GH GpSDQQDJH GX 'HOO /DWLWXGH &3
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 1XPpURV GH FRQWDFW GH 'HOO 3RXU pPHWWUH XQ DSSHO ORQJXH GLVWDQFH GDQV YRWUH SURSUH SD\V XWLOLVH] OHV LQGLFDWLIV GH ]RQH DX OLHX GHV LQGLFDWLIV 4XDQG YRXV GHYH] FRQWDFWHU 'HOO XWLOLVH] OHV QXPpURV HW G DFFqV LQWHUQDWLRQDX[ GH SD\V HW GH YLOOH 3DU H[HPSOH LQGLFDWLIV GH WpOpSKRQH IRXUQLV DX[ WDEOHDX[ HW /H SRXU DSSHOHU 3DULV HQ )UDQFH GHSXLV 0RQWSHOOLHU HQ WDEOHDX IRXUQLW GHV LQGLFDWLIV GLYHUV UHTXLV SRXU S
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX ,QGLFDWLIV GH QXPpURWDWLRQ LQWHUQDWLRQDX[ ,QGLFDWLI G DFFqV 3D\ V 9LOOH LQWHUQDWLRQDO ,QGLFDWLI GX SD\V ,QGLFDWLI GH OD YLOOH $IULTXH GX VXG -RKDQQHVEXUJ $OOHPDJQH /DQJHQ $XVWUDOLH 6\GQH\ $XWULFKH 9LHQQH %HOJLTXH %UX[HOOHV %UXQHL ¥ ¥ &DQDGD 1RUWK
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX ,QGLFDWLIV GH QXPpURWDWLRQ LQWHUQDWLRQDX[ VXLWH ,QGLFDWLI G DFFqV 3D\ V 9LOOH LQWHUQDWLRQDO ,QGLFDWLI GX SD\V ,QGLFDWLI GH OD YLOOH 5pSXEOLTXH WFKqTXH 3UDJXH 5R\DXPH 8QL %UDFNQHOO 6LQJDSRXU 6LQJDSRXU 1RQ UHTXLV 6XqGH 8SSODQGV 9DVE\ 6XLVVH *HQqYH 7DLZDQ ¥ 7KDwODQGH ¥ '(// &21),'(17,$/ 3UHOLPLQDU\ 2EWHQWLRQ G DLGH
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX 1XPpURV GH FRQWDFW 'HOO 1XPpUR ORFDO RX 3D\V 1RP GX GpSDUWHPHQW RX VHUYLFH $IULTXH GX VXG 6WDQGDUG -RKDQQHVEXUJ ,QGLFDWLI DSSHO JUDWXLW 6XSSRUW WHFKQLTXH 7pOpFRSLH
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX 1XPpURV GH FRQWDFW 'HOO VXLWH 1XPpUR ORFDO RX 3D\V %HOJLTXH 1RP GX GpSDUWHPHQW RX VHUYLFH ,QGLFDWLI 6XSSRUW WHFKQLTXH FOLHQWV DSSHO JUDWXLW %UX[HOOHV 9HQWHV DSSHO JUDWXLW %UXQHL 6DOHV)D[
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX 1XPpURV GH FRQWDFW 'HOO VXLWH 1XPpUR ORFDO RX 3D\V 1RP GX GpSDUWHPHQW RX VHUYLFH &KLQH 6HUYLFH FOLHQWV 3HQDQJ HQ 0DODLVLH 3pNLQ ,QGLFDWLI DSSHO JUDWXLW 9HQWHV H[WHQVLRQV j 5(0$548( /HV FOLHQWV HQ &KLQH DSSHOOHQW OD 0DODLVLH SRXU O DVVLVWDQFH FOLHQ
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX 1XPpURV GH FRQWDFW 'HOO VXLWH 1XPpUR ORFDO RX 3D\V 1RP GX GpSDUWHPHQW RX VHUYLFH (WDWV 8QLV ,QGLFDWLI DSSHO JUDWXLW 6\VWqPH G pWDW GHV FRPPDQGHV DXWRPDWLVp DSSHO JUDWXLW $XVWLQ 7H[DV $XWR7HFK VXSSRUW WHFKQLTXH DXWRPDWLVp DSSHO JUDWXLW 6XSSRUW WHFKQLTXH FOLHQWV QXPpURV G DXWRULVDWLRQ GH UHWRXU GX PDWpULHO¥UpSDUDWLRQV VRXV JDUDQW
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX 1XPpURV GH FRQWDFW 'HOO VXLWH 1XPpUR ORFDO RX 3D\V 1RP GX GpSDUWHPHQW RX VHUYLFH )UDQFH 6XSSRUW WHFKQLTXH 3DULV 3DULV 0RQWSHOOLHU ,QGLFDWLI DSSHO JUDWXLW 6XSSRUW WHFKQLTXH 0RQWSHOOLHU 6HUYLFH FOLHQWV FRPSWHV SULQFLSDX[ 6HUYLFH FOLHQWV FRPSWHV 9$5 6H
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX 1XPpURV GH FRQWDFW 'HOO VXLWH 1XPpUR ORFDO RX 3D\V 1RP GX GpSDUWHPHQW RX VHUYLFH -DSRQ 6XSSRUW WHFKQLTXH DSSHO JUDWXLW .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX 1XPpURV GH FRQWDFW 'HOO VXLWH 1XPpUR ORFDO RX 3D\V 1RP GX GpSDUWHPHQW RX VHUYLFH 0H[LTXH ,QGLFDWLI DSSHO JUDWXLW 6\VWqPH G pWDW GHV FRPPDQGHV DXWRPDWLVp &RORQLD *UDQDGD 5(0$548( /HV FOLHQWV DX 0H[LTXH DSSHOOHQW OHV $XVWLQ 7H[DV (WDWV 8QLV
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX 1XPpURV GH FRQWDFW 'HOO VXLWH 1XPpUR ORFDO RX 3D\V 1RP GX GpSDUWHPHQW RX VHUYLFH 3D\V G $VLH 6XSSRUW WHFKQLTXH FOLHQWV VHUYLFH FOLHQWV GX 6XG (VW 3DFLILTXH HW YHQWHV 3HQDQJ HQ 0DODLVLH ,QGLFDWLI DSSHO JUDWXLW j O H[FHSWLRQ GH O $XVWUDOLH %UXQHL OD &KLQH +RQJ .
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? & )0 7DEOHDX 1XPpURV GH FRQWDFW 'HOO VXLWH 1XPpUR ORFDO RX 3D\V 1RP GX GpSDUWHPHQW RX VHUYLFH 6XqGH 6XSSRUW WHFKQLTXH 8SSODQGV 9DVE\ ,QGLFDWLI DSSHO JUDWXLW 6HUYLFH FOLHQWV %%6 7HFK&RQQHFW
$QQH[H $ 6SpFLILFDWLRQV WHFKQLTXHV 6 7DEOHDX $ 6SpFLILFDWLRQV WHFKQLTXHV 0LFURSURFHVVHXU 7\SH GH PLFURSURFHVVHXU PLFURSURFHVVHXU ,QWHO 3HQWLXP DYHF WHFKQRORJLH 00; IRQFWLRQQDQW j RX 0+] $UFKLWHFWXUH GX EXV 3&, 0pPRLUH FDFKH LQWHUQH .R 0pPRLUH FDFKH H[WHUQH 'HOO /DWLWXGH &3 0 67 HW 0 67 65$0 GH .R j UDIDOHV V\QFKURQHV 'HOO /DWLWXGH &3 0 67 HW 0 ;7
7DEOHDX $ 6SpFLILFDWLRQV WHFKQLTXHV VXLWH &DUWHV 3& &RQWU{OHXU GH FDUWH 3& FRQWU{OHXU &DUG%XV 3&, GH 7H[DV ,QVWUXPHQWV &RQQHFWHXUV GH FDUWH 3& GHX[ VXSSRUWH OHV FDUWHV GH W\SH , HW GH W\SH ,, GDQV Q LPSRUWH TXHOOH FRPELQDLVRQ /HV FDUWHV GH W\SH ,,, QH SHXYHQW rWUH XWLOLVpHV TXH GDQV OH FRQQHFWHXU GX EDV OH FRQQHFWHXU GX KDXW VXSSRUWH GHV FDUWHV YLGpR GH ]RRP VXU GHV V\VWqPHV XWLOLVDQW :LQGRZV &DUWHV VXSSRUWpHV
7DEOHDX $ 6SpFLILFDWLRQV WHFKQLTXHV VXLWH &RQQHFWHXUV 6pULH '7( XQ FRQQHFWHXU FRPSDWLEOH DYHF WDPSRQ GH RFWHWV 3DUDOOqOH XQ FRQQHFWHXU PRQRGLUHFWLRQQHO ELGLUHFWLRQQHO RX (&3 9LGpR XQ FRQQHFWHXU 36 XQ FRQQHFWHXU PLQLDWXUH ',1 ,QIUDURXJH
7DEOHDX $ 6SpFLILFDWLRQV WHFKQLTXHV VXLWH 9LGpR 7\SH GH YLGpR DFFpOpUDWLRQ SDU PDWpULHO GH ELWV %XV GH GRQQpHV 3&, &RQWU{OHXU YLGpR 1HR0DJLF 0pPRLUH YLGpR 0R $IILFKDJH 'HOO /DWLWXGH &3 0 67 0 67 HW 0 67 7\SH FRXOHXU j PDWULFH DFWLYH 7)7 'LPHQVLRQV ]RQH DFWLYH +DXWHXU
7DEOHDX $ 6SpFLILFDWLRQV WHFKQLTXHV VXLWH $IILFKDJH 'HOO /DWLWXGH &3 0 ;7 7\SH FRXOHXU j PDWULFH DFWLYH 7)7 'LPHQVLRQV ]RQH DFWLYH +DXWHXU PP SRXFHV /DUJHXU PP SRXFHV 'LDJRQDOH PP SRXFHV 5pVROXWLRQ PD[LPDOH FRXOHXUV [ SL[HOV FRXOHXUV 7HPSV GH UpSRQVH W\SLTXH
7DEOHDX $ 6SpFLILFDWLRQV WHFKQLTXHV VXLWH %DWWHULH 7\SH LRQ OLWKLXP 'LPHQVLRQV +DXWHXU PP SRXFH 3URIRQGHXU PP SRXFHV /DUJHXU PP 3RLGV NJ 7HQVLRQ 9F F &DSDFLWp
7DEOHDX $ 6SpFLILFDWLRQV WHFKQLTXHV VXLWH $GDSWDWHXU &$ VXLWH 7HQVLRQ GH VRUWLH QRPLQDOH 9F F +DXWHXU PP SRXFHV /DUJHXU PP SRXFHV 3URIRQGHXU PP SRXFHV 3RLGV DYHF OHV FkEOHV NJ OE 3ODJH GH WHPSpUDWXUH )RQFWLRQQHPHQW ° j °& ° j °) 6W
7DEOHDX $ 6SpFLILFDWLRQV WHFKQLTXHV VXLWH (QYLURQQHPHQW RUGLQDWHXU 7HPSpUDWXUH )RQFWLRQQHPHQW ° j °& ° j °) 6WRFNDJH ° j °& ° j °) +XPLGLWp UHODWLYH PD[LPDOH )RQFWLRQQHPHQW j VDQV FRQGHQVDWLRQ 6WRFNDJH j VDQV FRQGHQVDWLRQ 9LEUDWLRQV PD[LPDOHV )RQFWLRQQHPHQW *506 DYHF XQ VSHFWUH GH YLEUDWLRQ DOpD
7DEOHDX $ 6SpFLILFDWLRQV WHFKQLTXHV VXLWH 7DSLV WDFWLOH ,QWHUIDFH FRPSDWLEOH 36 5pVROXWLRQ GH OD SRVLWLRQ ; < PRGH GH WDEOH JUDSKLTXH SRLQWV PP SRLQWV SRXFH 7DLOOH (SDLVVHXU PP SRXFH SRXU OH FRPSRVDQW OH SOXV KDXW /DUJHXU VHQVRU DFWLYH DUHD PP SRXFHV HQ EDV PP SRXFHV HQ KDXW +DXWHXU UHFWDQJOH GH PP
$ *XLGH GH UpIpUHQFH HW GH GpSDQQDJH GX 'HOO /DWLWXGH &3
$QQH[H % 7HVWV GH GLDJQRVWLFV YLGpR / H JURXSH GHV WHVWV YLGpR GHV GLDJQRVWLFV 'HOO FRQVLVWH HQ KXLW WHVWV TXL YpULILHQW FKDFXQ XQH IRQFWLRQ RX XQ JURXSH GH IRQFWLRQV YLGpR SDUWLFXOLqUHV VXU YRWUH pFUDQ GHPDQGHQW j O XWLOLVDWHXU GH UpSRQGUH HQ VXLYDQW OHV pWD SHV FL GHVVRXV -XJH] GH OD FRUUHFWLRQ GH O LPDJH DIILFKpH 6L XQH LPDJH HVW FRUUHFWH WDSH] LQWpJUp RX VXU XQ PRQLWHXU H[WHUQH 7HVW GH PpPRLUH YLGpR ¥ 9pULILH O LQWpJULWp GHV FD UDFWqUHV SURGXLWV j SDUWLU GH GRQQpHV HQ PpPRLUH Y
PRQLWHXU j OHV DIILFKHU FRUUHFWHPHQW j O pFUDQ 8QH LQYLWH HQ EDV GH FKDTXH pFUDQ GHPDQGH j O XWLOLVDWHXU GH GpFLGHU VL O DIILFKDJH HVW VDWLVIDLVDQW HW GH UpSRQGUH HQ WDSDQW RXL RX Q QRQ \ 6RXV WHVW GHV DWWULEXWV GH FDUDFWqUH [ /H VRXV WHVW GHV DWWULEXWV GH FDUDFWqUH j FRORQQHV [ OLJQHV DIILFKH TXDWUH OLJQHV GH WH[WH HQ PRGH WH[WH j 6L O XWLOLVDWHXU UpSRQG SDU O DIILUPDWLYH j FKDTXH VRXV WHVW FRORQQHV [ OLJQHV GRXEOH ODUJHXU TXL SUpVHQWHQW OD OH WHVW GH FDUDFWqUHV HQ PRGH WH[
6RXV WHVW GHV DWWULEXWV GH FRXOHXU [ 6RXV WHVW GHV DWWULEXWV GH FRXOHXU [ /H VRXV WHVW GHV DWWULEXWV GH FRXOHXU j FRORQQHV [ /H VRXV WHVW GHV DWWULEXWV GH FRXOHXU j FRORQQHV [ OLJQHV DIILFKH XQ DUUDQJHPHQW GH UDQJpHV HW FRORQ OLJQHV HVW OH PrPH WHVW TXH OH SUpFpGHQW PLV j SDUW TXH OHV QHV HQ PRGH WH[WH GH FRORQQHV VXU OLJQHV &KDTXH FDUDFWqUHV VRQW DIILFKpV HQ PRGH WH[WH GH FRORQQHV VXU UDQJpH D XQ QXPpUR KH[DGpFLPDO DYHF XQH FRXOHXU OLJQHV G DYDQW SO
(FUDQV GX PRGH JUDSKLTXH [ /H WHVW GX PRGH JUDSKLTXH DIILFKH GHX[ pFUDQV GX PRGH JUDSKLTXH j [ SL[HOV O XQ DSUqV O DXWUH /H SUH PLHU pFUDQ DIILFKH WURLV S\UDPLGHV HQ URXJH YHUW HW MDXQH /H VHFRQG DIILFKH WURLV S\UDPLGHV HQ PDJHQWD F\DQ HW EODQF 7DSH] \ VL WRXWHV OHV S\UDPLGHV RQW OD FRXOHXU FRU UHFWH VLQRQ WDSH] Q (FUDQ GX PRGH JUDSKLTXH GH FRXOHXUV [ / pFUDQ GX PRGH JUDSKLTXH GH FRXOHXUV j [ SL[HOV DIILFKH XQH VpULH G ; HQ FRXOHXUV GLIIpUHQWHV D
(FUDQ GX PRGH JUDSKLTXH GH FRXOHXUV [ /H SUHPLHU pFUDQ FRQWLHQW TXDWUH HQVHPEOHV GH FDUUpV XQ SRXU OH JULV HW XQ SRXU FKDFXQH GHV WURLV FRXOHXUV GH EDVH URXJH YHUW HW EOHX &KDTXH FDUUp FRQWLHQW XQH / pFUDQ GX PRGH JUDSKLTXH GH FRXOHXUV j [ QXDQFH GLIIpUHQWH GH VD FRXOHXU GH WUqV FODLUH j WUqV IRQ SL[HOV DIILFKH XQH VpULH GH S\UDPLGHV GH FRXOHXUV GLI FpH 7DSH] IpUHQWHV DYHF OH QRP GH OD FRXOHXU FRUUHVSRQGDQWH VRXV VLQRQ WDSH] FKDTXH S\UDPLGH 7DSH] \ Q /H G
% *XLGH GH UpIpUHQFH HW GH GpSDQQDJH GX 'HOO /DWLWXGH &3
$QQH[H & 5pJOHPHQWDWLRQV 7 RXWHV OHV UpJOHPHQWDWLRQV FRQFHUQDQW O RUGLQDWHXU VRQW 5HPDUTXH VXU OHV FkEOHV EOLQGpV Q XWLOLVH] TXH GHV FkEOHV EOLQGpV SRXU FRQQHFWHU OHV SpULSKpULTXHV j GHV DSSDUHLOV GH 'HOO DILQ GH UpGXLUH OD SRVVLELOLWp G LQWHUIpUHQFH DYHF OD UpFHSWLRQ UDGLR HW WpOpYLVLRQ / XWLOLVDWLRQ GH FkEOHV EOLQGpV YRXV DVVXUH GH FRQ VHUYHU OD FHUWLILFDWLRQ )&& DSSURSULpH HQFRXUDJp j HVVD\HU GH FRUULJHU OHV LQWHUIpUHQFHV HQ SUH QDQW XQH RX SOXVLHXUV GHV PHVXUHV VXLYDQWHV VLWXpHV VXU OD SD
/HV LQIRUPDWLRQV VXLYDQWHV VRQW IRXUQLHV VXU OHV GLVSRVL 'DQV FHUWDLQHV VLWXDWLRQV OD FRPSDJQLH GH WpOpSKRQH DXUD WLIV FRXYHUWV SDU FH GRFXPHQW HQ FRQIRUPLWp DYHF OD SHXW rWUH EHVRLQ GH YRXV SRVHU GHV TXHVWLRQV VXU O pTXLSH UpJOHPHQWDWLRQ )&& PHQW TXH YRXV DYH] FRQQHFWp j OD OLJQH GH WpOpSKRQH $ OD GHPDQGH GH OD FRPSDJQLH GH WpOpSKRQH IRXUQLVVH] OH 1RP GX SURGXLW 'HOO /DWLWXGH &3 QXPpUR G HQUHJLVWUHPHQW )&& HW OH QRPEUH G pTXLYDOHQFH 1XPpUR GH PRGqOH 33/ GH VRQQHULH 1RP GH OD VRFLpWp
1XPpUR GH FKDUJHPHQW /H QXPpUR GH FKDUJH /1 ORDG QXPEHU DIIHFWp j FKDTXH GLVSRVLWLI GH WHUPLQDLVRQ LQGLTXH OH SRXUFHQWDJH GH / pWLTXHWWH ,&(6 LGHQWLILH WRXW pTXLSHPHQW FHUWLILp &H FKDUJH WRWDOH SRXYDQW rWUH FRQQHFWp j XQH ERXFOH WpOpSKR QLTXH XWLOLVpH SDU OH GLVSRVLWLI SRXU pYLWHU WRXWH VXUFKDUJH /D WHUPLQDLVRQ G XQH ERXFOH SHXW VH FRPSRVHU GH WRXWH FRPELQDLVRQ GH GLVSRVLWLIV j FRQGLWLRQ TXH OH WRWDO GHV DOSKDEpWLTXH HVW pJDOHPHQW IRXUQL DYHF OH /1 DILQ G LGHQ H[HPSOH /1 FHUWLILFDW VLJQLILH TX
&RQIRUPLWp (1 $9(57,66(0(17 5pSXEOLTXH WFKqTXH VHXOHPHQW &HFL HVW XQ SURGXLW GH FODVVH $ 'DQV XQ HQYLURQQHPHQW GRPHVWLTXH FH SURGXLW SHXW FDXVHU GHV LQWHUIpUHQFHV UDGLR DXTXHO FDV LO SHXW rWUH GHPDQGp j O XWLOLVDWHXU &HW DSSDUHLO GHVFULSWLRQ TX LO HVW HVW GH XQ XQ (1 DSSDUHLO VSpFLILFDWLRQ /HV DSSDUHLO GH GH VDXI FODVVH FRQGLWLRQV FODVVH % LQGLFDWLRQ $ VXU VXLYDQWHV VHORQ H[SOLFLWH O pWLTXHWWH VRQW GH SUHQGUH GHV PHVXUHV DGpTXDWHV OD GH DSSOLFD
DUULqUH GH O RUGLQDWHXU VXU OH VXSSRUW GH PRQWDJH GHV FDU WRXWHV OHV pWLTXHWWHV VRQW GH FODVVH % YRWUH RUGLQDWHXU HVW WHV HW VXU OHV FDUWHV HOOHV PrPHV 6L O XQH GHV pWLTXHWWHV FRQVLGpUp FRPPH XQ DSSDUHLO QXPpULTXH GH FODVVH % LQGLTXH XQH FODVVH )&& $ YRWUH V\VWqPH FRPSOHW HVW FRQVLGpUp FRPPH pWDQW GH FODVVH $ ,7( 9&&, 6L WRXWHV OHV pWLTXHWWHV SRUWHQW XQ QXPpUR G LGHQWLILFDWLRQ GH FODVVH )&& % RX OH ORJR GH OD )&& 5(0$548( /HV GLVSRVLWLIV GH FODVVH $ VRQW j EXW SURIHVVLRQQHO /HV GLVSRVLWLIV G
8ZNBHBOJB 1PMTLJFHP $FOUSVN 4ZTUFN LPNQVUFSPXZ QPXJOJFO [OBKEPXBÀ TJÄ [ EBMB PE HS[FKOJLÍX J ySÍEF DJFQB 1POBEUP OJF OBMFZ #BEBË J $FSUZGJLBDKJ CMPLPXBÀ PUXPSÍX XFOUZMBDZKOZDI /BMFZ VOJLBÀ LBE[FOJB MVyOZDI QBQJFSÍX QPE LPNQVUFS PSB[ 8TQÍQSBDVKDF [F TPC VS[E[FOJB LPNQVUFS NPOJUPS VNJFT[D[BOJB LPNQVUFSB X DJBTOZN NJFKTDV CF[ ESVLBSLB QPXJOOZ CZÀ [BTJMBOF [ UFHP TBNFHP ySÍEB NPMJXPvDJ DZSLVMBDKJ QPXJFUS[B XPLÍ OJFHP *OTUBMBDKB FMFLUSZD[OB QPNJFT[D[FOJB QPXJOOB [BXJFSBÀ X QS[FXPE[JF
,QIRUPDFLyQ SDUD 120 ~QLFDPHQWH SDUD 0p[LFR /D LQIRUPDFLyQ VLJXLHQWH VH SURSRUFLRQD HQ HO GLVSRVL WLYR R HQ ORV GLVSRVLWLYRV GHVFULWRV HQ HVWH GRFXPHQWR HQ FXPSOLPLHQWR FRQ ORV UHTXLVLWRV GH OD 1RUPD 2ILFLDO 0H[LFDQD 120 ([SRUWDGRU ,PSRUWDGRU (PEDUFDU D 7HQVLyQ DOLPHQWDFLyQ )UHFXHQFLD &RQVXPR GH FRUULHQWH 'HOO &RPSXWHU &RUSRUDWLRQ 2QH 'HOO :D\ 5RXQG 5RFN 7; 'HOO &RPSXWHU GH 0p[LFR 6 $ GH & 9 5LR /HUPD 1R 3LVR &RO &XDXKWHPRF 0p[LFR ' ) 'HOO &RPSXWHU GH 0p[LF
& *XLGH GH UpIpUHQFH HW GH GpSDQQDJH GX 'HOO /DWLWXGH &3
$QQH[H ' *DUDQWLHV HW UqJOHV GH UHWRXU *DUDQWLH OLPLWpH GH WURLV DQV &RXYHUWXUH SHQGDQW OD SUHPLqUH DQQpH (WDWV 8QLV HW &DQDGD VHXOHPHQW 3HQGDQW OD SUHPLqUH DQQpH j SDUWLU GH OD GDWH GH IDFWXUD WLRQ 'HOO UpSDUHUD RX UHPSODFHUD OHV SURGXLWV FRXYHUWV 'HOO &RPSXWHU &RUSRUDWLRQ ¦'HOO§ IDEULTXH VHV SUR SDU FHWWH JDUDQWLH OLPLWpH TXL VRQW UHWRXUQpV j O XVLQH GH GXLWV PDWpULHOV j SDUWLU GH SLqFHV HW GH FRPSRVDQWV QHXIV 'HOO 3RXU REWHQLU OH VHUYLFH GH OD JDUDQWLH YRXV GHYH] RX pTXLYDOHQWV j GX QHX
&RXYHUWXUH SHQGDQW OD GHX[LqPH HW OD WURLVLqPH DQQpHV 3HQGDQW OD VHFRQGH HW OD WURLVLqPH DQQpHV GH FHWWH JDUDQ (7$76 28 -85,',&7,216 1( 3(50(77(17 3$6 '( /,0,7$7,21 685 /(6 *$5$17,(6 ,03/,&, 7(6 $848(/ &$6 &(77( /,0,7$7,21 1( 6 $33/,48( 3(87 (75( 3$6 $ 9275( &$6 WLH OLPLWpH 'HOO IRXUQLUD VXU XQH EDVH G pFKDQJH HW FRQ /$ 5(63216$%,/,7( '( '(// 3285 /( )21& IRUPpPHQW j OD UqJOH G pFKDQJH GH 'HOO GHV SLqFHV GH 7,211(0(17 '()(&78(8; (7 /(6 '()$876 UHPSODFHPHQW SRXU OHV SURGXLWV PDWpULHOV 'HOO FRX
5qJOH GH UHWRXU ¦6DWLVIDLW RX UHPERXUVp§ (WDWV 8QLV HW &DQDGD VHXOHPHQW LQWLWXOpH ¦&RQWDFWHU 'HOO§ GDQV YRWUH GX V\VWqPH HQ OLJQH *XLGH G XWLOLVDWLRQ SRXU UHFHYRLU XQ QXPpUR G DXWRULVD WLRQ GH UHWRXU GH FUpGLW 9RXV GHYH] H[SpGLHU OHV SURGXLWV j 'HOO GDQV OHXU HPEDOODJH G RULJLQH YRXV GHYH] SD\HU j O DYDQFH O H[SpGLWLRQ HW YRXV GHYH] DVVXUHU O H[SpGLWLRQ 6L YRXV rWHV XQ XWLOLVDWHXU ILQDO D\DQW DFKHWp GHV SURGXLWV RX ELHQ DFFHSWHU OHV ULVTXHV GH SHUWH RX GH GRPPDJHV GLUHFWHPHQW j XQH VRFLpW
' *XLGH GH UpIpUHQFH HW GH GpSDQQDJH GX 'HOO /DWLWXGH &3
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? %.
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? %.
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? %.
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? %. ,; + 0 KDXW SDUOHXUV PDWULFH JUDSKLTXH pWHQGXH 9RLU pFUDQ ;*$ FOLTXHWLV GX FODYLHU HPSODFHPHQW PpPRLUH FDUWH G ( 6 FDUWH GH OD PpPRLUH FRQYHQWLRQQHOOH KHXUH FRQILJXUHU FDUWH GH PpPRLUH VXSpULHXUH FRQILJXUDWLRQ PD[LPDOH GX V\VWqPH , JURXSH GH WHVWV GH 5$0 GHV GLDJQRVWLFV 'HOO PRGXOHV GH PpPRLUH LQIRUPDWLRQV GH FRQILJXUDWLR
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? %.
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? %.
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? %.
),/( /2&$7,21 . ?$UFKLYHV?,17(517/?)5(1&+?0RMDYH?5()? %. ,; 8 XQLWp GH WUDLWHPHQW FHQWUDOH &38 XQLWpV GH GLVTXH GXU XQLWp &' 520 GpSDQQDJH FDSDFLWp SUpVHQWDWLRQ GpSDQQDJH SUpVHQWDWLRQ XQLWp GH GLVTXHWWH HPSODFHPHQW FRQVHUYDWLRQ GH O pQHUJLH WHVWV SDQQH GH O XQLWp SHQGDQW OH WHVW GH GpPDUUDJH DXWRPD WLTXH WHVW W\SH '(// &21),'(17,$/ 3UHOLPLQDU\ *XLGH GH UpIpUHQFH HW GH GpSDQ