Download as pdf or txt
Download as pdf or txt
You are on page 1of 38

%) &) &% ()

;DDI76AA 6G7>IG6<: ;><JG: <A6BDJG


EVjaAZ<jZc! 6aV^c;^c`^Za`gVji B^X]Za9Zh_dnVjm! AV[^aaZYZ
a¼^gg‚egdX]VWaZ ZcY‚[ZchZYZh a¼]dbbZfj^hZg^i Bd]VbbZY6a^
A : B 6 < 6 O > C : H E D G I ; G : : 6I I > I J 9 : YZAndc ]dbbZhZccd^g YZhY‚egZhh^dch VgZb^haZh\Vcih

A:H7DCHGw;A:M:H
;68:6J96C<:G

IDJHA:HK:C9G:9>H™C•',™&ZgD8ID7G:'%%)
<G6IJ>I CDHED>CIH9:9>;;JH>DCHJGLLL#;G::HEDGI#;G

PDF généré avec les solutions Sowedoo


HEDGIH:9wKD>A:

A : B 6 < 6 O > C : H E D G I ; G : : 6I I > I J 9 :


L L L# ; G : : H E D G I# ; G

CDJK:A:heVXZ8dgedgViZ

Eajhg^X]Z
Eajh^ciZgVXi^[
Eajh\aVbdjg
EajhHedgi

lll#[gZZhedgi#[g
PDF généré avec les solutions Sowedoo
(

9:H6C<";GD>9
9 > I D


G > 6 A
(%
Ikhl_lh[$D½[ij#Y[fWiY[gk[deki\W_iedijeki5
Ikhl_[ieY_Wb[ekƒYedec_gk["f^oi_gk[[jfio#
Y^ebe]_gk[$9[if[j_jijhkYifekhikhl_lh[i[kb
ZWdikd[\eh…j"kdZƒi[hjekb[i[Wkn\he_Z[i
Z½kd[c[hb_h[f$(*Z[ii_d[kd[iehj[Z[fio#
Y^e]ƒe]hWf^_[Z[deif[khi$9[ifƒh_bideki
^WX_jk[dj jekj ZekY[#
%) &) &% ()

c[dj}b½_Zƒ[Z[cekh_h$ ;DDI76AA
EVjaAZ<jZc!
a¼^gg‚egdX]VWaZ
YZAndc
6G7>IG6<:
6aV^c;^c`^Za`gVji
ZcY‚[ZchZYZh
]dbbZhZccd^g
;><JG: <A6BDJG
B^X]Za9Zh_dnVjm! AV[^aaZYZ
a¼]dbbZfj^hZg^i Bd]VbbZY6a^
YZhY‚egZhh^dch VgZb^haZh\Vcih
A : B 6 < 6 O > C : H E D G I ; G : : 6I I > I J 9 :

BW fWd_gk[ fhƒY_f_j[


jek`ekhi b½_iik[ \WjWb[$
BW iƒhƒd_jƒ b[ iWd]#
\he_Z5"c…c[Wf[khƒ["
bW h[jWhZ[$ :_\\ƒh[h bW
A:H7DCHGw;A:M:H
;68:6J96C<:G cehj[dof[diWdjjekjb[
j[cfi"Y½[ijiWdiZekj[
IDJHA:HK:C9G:9>H™C•',™&ZgD8ID7G:'%%)
<G6IJ>I CDHED>CIH9:9>;;JH>DCHJGLLL#;G::HEDGI#;G

Y[gk½edWff[bb[l_lh[$
GZfj^ci^\gZ
E]didYZXdjkZgijgZ/
IWdi fWhb[h Z[ Y[jj[
?Z[[gZnA#GdibVc$8dgW^h YeddW_iiWdY[Z[ie_Zedj
dekif[diedijhefiek#
l[djfekle_hdekifWii[h$7behigk½[bb[f[kjdeki

&'
Wffh[dZh[kd[Y^ei[0dekiiecc[iWkii_Yek#
hW][kngk½_hhƒ\bƒY^_i"[jjekh}jekhXhWl[i[j
b~Y^[i$9½[ijkd[gk[ij_edZ[Y_hYedijWdY[i$N
EB?L?;HC?B>ECC;

7DCC:=JB:JG
C>8DA6HK6CC>:G
?:6C"8A6J9:GD86$I;&

®>a n V YZh \Zch fj^ V^bZci aZ


g^hfjZ!bd^eVh#?ZaZa^b^iZVj
bVm^bjb#>ac¼ZhieVheajh\gVcY
ZcigVˆcZVj|X]^ZchhjgjcZg^k^ƒgZfj¼Zckd^ijgZ
hjgjcZVjidgdjiZ#FjVcYa¼VXX^YZciVgg^kZ!^anVjc
_ZiY¼VYg‚cVa^cZbV^hdcc¼VeVheZjg#9VchaZ<gVcY
CdgY!aZYVc\Zg!X¼Zhia¼ZVj!eVhaZhVc^bVjm#BVa\g‚
&+
a¼Zme‚g^ZcXZYZhh^\cZhfj^eZjkZciVaZgiZgiZggV^c!
hV^hdc!XdbedgiZbZciYZhX]^Zch###!_Zhj^hY‚_|
eVhh‚VjigVkZghYZaV\aVXZ#²")*•8!dcV'b^cjiZh
edjgg‚V\^g/iZghZh\Vcih!hdgi^gYZa¼ZVj!hZY‚h"

()
]VW^aaZg![V^gZYj[ZjVkZXaZXdbWjhi^WaZY^hedc^WaZ!
hZ\a^hhZgYVchjchVXYZXdjX]V\Z#vVb¼ZhiVgg^k‚
igd^h[d^h!_¼V^Zjigd^h[d^hYZaVX]VcXZ#¯N
6bdjgZjmYZaVcVijgZZiYZh\gVcYhZheVXZh!X^c‚VhiZ!VjiZjg

HDBB6>G:', K:C9G:9>&ZgD8ID7G:

HEDGI ;G:: 6II>IJ9: :HI 9>HIG>7Jw ²/


7DG9:6JM!A>AA:!ANDC!B6GH:>AA:!
BDCIE:AA>:G!C6CI:H!C>8:!E6G>H$GE!
G:CC:H!HIG6H7DJG<:IIDJADJH:
%)A¼wKwC:B:CI &+G:EÎG:H ')6K:CIJG:
 A¼ZcigVˆcZjgbdYƒaZ  ®MhVgV!bdcVbdjg¯  K^ZZcYVc\Zg
’ EdjgigdjkZgidjhaZhed^cihYZY^hig^Wji^dc/mmm$\h[[ifehj$\h  EVjaAZ<jZc  AVkd^ijgZYZgVaanZ  AZhWdchg‚[aZmZh
DeiYebfehj[khiiedj^WX_bbƒifWh
 Zia¼Danbe^fjZAndccV^h  YZH‚WVhi^ZcAdZW  Zcb^a^Zj]dhi^aZ
Hedgi;gZZ6ii^ijYZ 9^gZXi^dcVgi^hi^fjZ/ 9^gZXiZjgXdbbZgX^VaZibVg`Zi^c\/

H^ƒ\ZhdX^Va/
EVhXVaAVgX]‚-.*-
BVfjZii^hiZ/
;gVcd^hGdhh^\cda-.,,
9^gZXig^XZXdbbZgX^VaZ/ &%;><JG: &-:C?:JMGwHJAI6IH (%DJI9DDG
&+"&-!gjZG^kVn.'(%%AZkVaad^h"EZggZi
H6VjXVe^iVaYZ&'-)%%%æ
AVZi^i^V@VaV[Vi-.+&
HZXg‚iV^gZ\‚c‚gVaZ
Hde]^ZD\Zg-.**
GZhedchVWaZbVg`Zi^c\/
 B^X]Za9Zh_dnVjm  AZhegdcdhi^Xh  A¼‚fj^iVi^dc
G8HCVciZggZ7)).%&..+, YZg‚YVXi^dc/ BVg^Z7djgYdc-.,%  <‚VciYZhdX‚Vch  ZiaVXdiZYZh‚fj^eZh  JcVgiYZk^kgZ
I‚a#/%&)&',-.,. ;adgZcXZGdjXdaaZ-.*+ GZhedchVWaZYZhde‚gVi^dch/
;Vm/%&),(,+-))
LZW/lll#hedgi[gZZVii^ijYZ#Xdb
HZXg‚iV^gZYZg‚YVXi^dc/
=‚aƒcZ<gdc^Zg-.*,
;gVc`9jXgZi-.+-
8]Z[YZegd_ZiY^[[jh^dc/ &'8=6AA:C<: '%DBC>HEDGIH ()<A6BDJG
:bV^a/XdciVXi5hedgi[gZZVii^ijYZ#Xdb
Eg^cX^eVjmVhhdX^‚hZi[dcYViZjgh/
8]Z[e]did/
6cVIZcdg^d"EdciZh-.+)
K^g\^c^Z8dhiZ-.,*
8]Vg\‚ZYZXdbbjc^XVi^dc/
 A¼Vegƒh"8djeZ9Vk^h  A¼VXijVa^i‚ZcWgZ[!  6a^!eg‚cdbAV^aV
7gjcd7gZidc!;gVcX^h?Vajodi! >Xdcd\gVe]Z/ ?ja^ZiiZEVhXVa-.++  AZ<gVcYEg^mYZiZcc^h  oddbhjga¼ZhXVaVYZ^cYddg
;gVcd^hGdhh^\cda 6aZm^hG‚Vj-.+( EjWa^X^i‚/Hde]^ZD\Zg-.**
 YZAndc  (+BwBDHEDGI
Eg‚h^YZciZiY^gZXiZjgYZaV
ejWa^XVi^dc/;gVcX^h?Vajodi-.,+
DciXdaaVWdg‚|XZcjb‚gd/
7Zcdˆi7VjbZ!@]VaZY7Zco^cZ!GdcVc
?V…a6odjaVn-.*)
EjWa^XViG‚\^Z/ '';G::HINA:  I‚a‚k^h^dc
9^gZXiZjg\‚c‚gVaY‚a‚\j‚
|a‚Y^idg^Va/7gjcd7gZidc-.,-
;da\dVh!8]g^hi^VcAVXVoZ!9db^c^fjZ
AZ7gjc!8aVg^hhZC‚cVgY!8]g^hFjZgdn!
C^XdaVh6cYgZVjai%&)%(.&(+(
H‚WVhi^ZcHdWdja%&)%(.&('& &)8=6AA:C<:  AZXVabZZiej^h###  ZiV\ZcYVhedgi^[
G‚YVXiZjgZcX]Z[/ hjeZgk^h‚eVg=j\jZh9Vc\n D[[gZhY¼Zbead^hZiYZ[dgbVi^dch/  A¼VgW^igV\Z  aViZbe„iZ
Da^k^ZgB^a]dbbZ-.,(
G‚YVXiZjghZcX]Z[VY_d^cih/
GZbZgX^ZbZcih/
Da^k^Zg7aVcX!6cid^cZ9jedci!?VX`n
HedgiXVgg^ƒgZ!6aV^c<]^WVjYd/
%&)',%+.+(lll#hedgiXVgg^ZgZ#Xdb  kjeVgaZe]^adhde]Z  9ZhXZcYgZaZbdci;j_^ (-E:DEA:
7gjcd8a‚bZciad^h^gh-.,&
AVjgZciAdj…ihedgi!‚k‚cZbZcih-.,'
<dYd[[Z!MVk^ZgBVc^\jZi!<Zdg\Zh
KVcYZgX]b^ii
;VWg^XVi^dc/6cc^X`Idggƒh9ZaiV
<gVe]^X!.'>hhn"aZh"Bdja^cZVjm
 6aV^c;^c`^Za`gVji  ZcKII  He‚X^VaBdcY^VaYZa¼Vjid
8]Z[hYZhZgk^XZ/ >begZhh^dc/Fj‚W‚XdgH6!
Hi‚e]VcZB‚_Vcƒhad^h^gh-.+,! 6Y]‚gZci|9^[[jh^dc8dcigaZZiVj8:HE ,,))%BVgn"hjg"BVgcZ
A^dcZaKZaaVhedgi!‚k‚cZbZcih-.+' HedgihB‚Y^VhHigVi‚\^Z!'%%)
I^gV\Z/+%%%%%ZmZbeaV^gZh
DekiWledi[dh_Y^_bWfW][jƒbƒl_i_edZ[Hedgi$DekiW_c[h_ediWle_hlejh[Wl_iikh\h[[ifehj$\h
IdjiZgZegdYjXi^dcZi$djgZeg‚hZciVi^dcb„bZ
8g‚Vi^dc/ eVgi^ZaaZZhi^ciZgY^iZhVchaVjidg^hVi^dc‚Xg^iZ 9‚eiA‚\Va/|eVgji^dc
6cid^cZAV[[daVnAVWZ eg‚VaVWaZYZa‚Y^iZjg# C•>HHC/&,+)"&,*+

& Zg D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


) A¼wKwC:B:CI;DDI76AA

?¼V^idj_djghgZhhZci^
¹ jc^ci‚g„iedjgXZ
b‚i^Zg#?¼V^idj_djgh
ZjVZci„iZ°
º
;G6C@;6J<ÏG:$;A6H=EG:HH$9EE>

E6JAA:<J:CANDC

A¼:CIG6>C:J
& Zg D 8 I D 7 G :  ' % % ) 

PDF généré avec les solutions Sowedoo


*

86HI6CD$E6CDG6B>8
®?ZegdkdfjZidj_djghYZh‚X]Vc\ZhVkZXbZh_djZjgh!fj^gZhiZcigZheZXijZjm###¯

6jg‚da‚YZhZhYZjmi^igZhYZX]Vbe^dcYZ
;gVcXZ!EVjaAZ<jZcZhigZeVgi^ZcXVbeV\cZ
VkZXidj_djghVjiVciY¼VbW^i^dchedjgAndc#
A¼]dbbZc¼ZhieVhYj\ZcgZ|hZaV^hhZg\g^hZg
eVgaZhjXXƒh#>ciZgk^Zl#

’
Lejh[fhƒi_Z[dj"@[Wd#C_Y^[b c^kZVjYZhg‚hjaiVih#AZXajWkZcV^i
7kbWi"Z_jZ[lekigk[ Y¼„igZhVXg‚X]Vbe^dcYZ;gVcXZ
lekiWl[pb½ƒje\\[Z½kd fjVcY_Zhj^hVgg^k‚#;^cVaZbZci!bdc
7hi„d[M[d][h± Y‚ÂiV^iY¼VaaZgZcXdgZeajhad^c#6kZX
8¼ZhiigƒhÄViiZjgedjgbd^#?ZXdch^YƒgZ bdc\gdjeZ!_ZeZchZVkd^gg‚jhh^YVch
fjZX¼ZhijcZigƒhWZaaZg‚[‚gZcXZbV^h XZiiZb^hh^dc#
_Zhj^had^cY¼Vkd^gg‚Va^h‚aZeVgXdjgh
fj¼6ghƒcZV[V^i_jhfj¼|eg‚hZci# EdWb½_cfh[ii_edgk[lejh[ƒgk_f[
fWhW‰j[njh…c[c[djieb_Z[[jiWdi
Gk½Wffh[dZ#edbehigk[b½edZ[l_[dj lƒh_jWXb[WZl[hiW_h[ZWdiY[
[djhW‰d[khZ[b½Ebocf_gk[BoeddW_i5 Y^Wcf_eddWjZ[<hWdY[±
DcXdbegZcYY¼VWdgYfj¼^X^!dchZYdccZ ?ZcZhj^heVhY¼VXXdgY#BdcVXdVjc
aZhbdnZchY¼„igZVbW^i^Zjm#?¼V^jcZ Z[[ZXi^[edjg„igZX]Vbe^dc#GZ\VgYZoaZ
ZmXZaaZciZgZaVi^dcVkZXaZeg‚h^YZci gZXgjiZbZciYZBVghZ^aaZ#HVchdjWa^Zg
6jaVh#G‚\ja^ƒgZbZci!^ab¼Zmea^fjZhZh 7dgYZVjmdjEVg^h°?Zc¼V^eVhaZ
X]d^mhigVi‚\^fjZh!bZ[V^ieVgi^X^eZgVjm hZci^bZcifjZa¼dckVYdb^cZg
Y‚X^h^dchhedgi^kZh#KdjhhVkZo!_ZbZ aVg\ZbZciXZX]Vbe^dccVi#6jXdcigV^gZ!
hZchW^Zc^X^# VkV„igZjcZYjgZWViV^aaZ#8dbbZaV
hV^hdcYZgc^ƒgZ#
7_c[p#lekijhWlW_bb[hZWdiY[Yedj[nj[
boeddW_i"e’i[kbb[hƒikbjWjYecfj[5 B½eX`[Yj_\"Y½[ijb[j_jh[ekbWB_]k[Z[i
?¼V^idj_djghW‚c‚ÃX^‚Yjhdji^ZcYj Y^Wcf_edi5
eg‚h^YZci!b„bZYVchYZhe‚g^dYZh AVeg^dg^i‚!X¼Zhiidj_djghaZX]Vbe^dccVi
Y‚a^XViZh#?¼V^aVX]VcXZY¼Vkd^gjcWdc XVgX¼ZhiXdbbZXZaVfjZa¼dchZ
Z[[ZXi^[#8ZgiZh!XZc¼ZhieVh[VX^aZidjh bV^ci^ZciVjeajh]Vjic^kZVj#8¼Zhi
aZh_djgh#BV^h_ZW‚c‚ÃX^ZY¼Vidjih kgV^bZciaVXdbe‚i^i^dcYZg‚[‚gZcXZ°
^cXdciZhiVWaZh#?ZeZchZ|a¼jc^i‚VjhZ^c
YjXajWZi!hjgidji!|XZiiZhda^YVg^i‚YZ 9ecc[dj`k][p#lekib[h[Yhkj[c[dj
X]VfjZ^chiVci# Z[b½EBY[jj[iW_ied5
DcZhiigƒhXdciZci#B„bZh^dchZgV
Gk[bb[[ijbWY^ei[gk[lekiWl[plekbk _j\‚hjgaVYjg‚Z#BV^h|a¼]ZjgZVXijZaaZ!
Wcƒb_eh[h[dWhh_lWdj}Boed5 _ZigdjkZfjZa¼dcV‚i‚deedgijc^hiZ#
?¼V^kdjajbV^ciZc^gjcZXdchiVcXZVj :iXd]‚gZci#
’

JGBD9:A: &Z g  D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


+ A¼wKwC:B:CI;DDI76AA
G6;6G>K6H$<:IIN>B6<:H$6;E

86HI6CD$E6CDG6B>8
EVjaAZ<jZcZmead^iZidjiaZ ’ Gk½Wl[p#lekih[j[dkZ[lejh[[nfƒh_[dY[ @kij[c[dj"Z[fk_igkWdZlekb_[p#lekiZ[l[d_h eVhidji|[V^iY¼VXXdgY#8Zc¼ZhieVhjcZ
ediZci^ZaYZhdcZ[[ZXi^[#9Z h[ddW_i["e’lekiWl[p[djhW‰dƒZ['//.}(&&'5 [djhW‰d[khZ½kd[ƒgk_f[Z[\eejXWbb5 Y^hXjhh^dcfj^kVgZcYgZaZh_djZjghhVi^h[V^ih
hdcXVe^iV^cZ8aVjY^d8VVeV 7ZVjXdjeYZX]dhZh°?Zhj^h[dgiZbZciViiVX]‚ ?¼V^idj_djghgZhhZci^jc^ci‚g„iedjgXZb‚i^Zg#?¼V^ Y¼VeegZcYgZfj¼^ahcZ_djZcieVh#>anVYj
|Y#|hZhigd^hcdjkZaaZh |aV7gZiV\cZ#8¼Zhia|fjZk^ibV[Vb^aaZ#8ZaVY^i! idj_djghZjVZci„iZ#?¼V^eVhh‚bZhY^eabZh Y^Vad\jZ!X¼ZhikgV^#?Zhj^hidj_djgh|aZjg
gZXgjZh/8g^h!=dcdgVid _¼V^Vjhh^Veeg^hfj¼^acZ[VaaV^ieVhh¼^chiVaaZg eZcYVcifjZ_¼‚iV^h_djZjg#?ZeZchZfjZbZh Y^hedh^i^dc#?ZegdkdfjZeVg[d^hYZh‚X]Vc\Zh#
C^abVgZiHnakV^cL^aidgY Y‚Ãc^i^kZbZcifjZafjZeVgiadghfjZa¼dckZji Xd‚fj^e^Zgh|CVciZhdjVjEH<edjkV^ZcihZci^g 8ZaVY‚eZcYYZhX^gXdchiVcXZh#BV^hYVch
X^"YZhhdjh!YZ\#|Y## YZkZc^gZcigVˆcZjg# fjZ_¼‚iV^h^ci‚gZhh‚#FjZXZaVbZiZciV^i a¼ZchZbWaZ!VhZeVhhZeajiiW^Zc!idj_djgh
Y¼ZbWgVhhZgjcZXVgg^ƒgZ° YVchYZhgVeedgihgZheZXijZjmYZhYZjmXi‚h#

Gk[biƒjW_[djleiceZ„b[i"Y[kngk_leki EdlekiZ_jj_c_Z[$Gk½[df[di[p#leki5
_dÅk[dY[dj[dYeh[Wk`ekhZ½^k_5 ?ZeZchZVkd^gjc[dcYYZi^b^Y^i‚!Z[[ZXi^kZbZci#
?¼V^ZjWZVjXdjeYZWdchZcigVˆcZjghZiYZ BV^haZ[ddiWVaab¼VV^Y‚|hjgbdciZgXZaVZi|bZ
eVgiZcV^gZhVkZXaZhfjZah_Zhj^hgZhi‚a^‚#8¼Zhi hZci^geajh|a¼V^hZ#
idj_djghY^[ÃX^aZY¼Zchdgi^gjcdjYZjm#G^XVgYd!
|aV[d^hXdbbZ_djZjgZiXdbbZZcigVˆcZjg! LekiYedi_Zƒh[p#lekiYecc[gk[bgk½kd
b¼VbVgfj‚#>aZmZgXZVj7g‚h^aVj_djgY¼]j^ Z½Wjof_gk[5
PcYag/Vj;aVbZc\dR#>aVkV^iYZhiVaZciheg‚XdXZh?¼V^[V^iYZh‚ijYZhjc^kZgh^iV^gZh#?ZedhhƒYZ
Y¼ZcigVˆcZjg#>aVidj_djgh‚i‚fjZafj¼jc jcZbVˆig^hZYZhX^ZcXZh‚Xdcdb^fjZh#
YZigƒhb’g# ?ZcZgZc^ZeVhXZeVgXdjgh#6jXdcigV^gZ#
?¼V^ZjVjhh^YZaVX]VcXZXVg!ÃcVaZbZci!_Zhj^h
K#B>8=:A$;:E$E6CDG6B>8

LekiWl[pbWhƒfkjWj_edZ[bW_ii[hjek`ekhilejh[ kZcjYVchaZ[ddiWVaaVhhZoiVgY#?¼V^Zchj^iZ
fehj[ekl[hj[± Xdbeg^hfjZaZb‚i^ZgY¼ZcigVˆcZjgVaaV^i
<„c‚!^aXdjeZAZh\Zchfj^Y^hZciVeg‚hZciZci bZeZgbZiigZYZedjghj^kgZbVXVgg^ƒgZ
jciVWaZVj^Ynaa^fjZYZaVh^ijVi^dc°?ZcZhj^h YVchaZ[ddiWVaa# ’
E=#E:GJHH:6J$;:E$E6CDG6B>8
?#7#6JI>HH>:G$;:E$E6CDG6B>8

?#7#6JI>HH>:G$;:E$E6CDG6B>8

?#7#6JI>HH>:G$;:E$E6CDG6B>8
?#B#=:GK>D$;A6H=EG:HH$9EE>

®8¼Zhijc\gVcY ®>aZhiidj_djgh ®EVjahV^i ®²GZccZh!^ab¼V ®8¼ZhijcigƒhWdc ®DcV\V\c‚aV


8Zfj¼^ah
:#G:C6G9$DCO:BDC9>6A$

ZcigVˆcZjg edh^i^[!Y¼]jbZjg egdi‚\Zghdc Ydcc‚gVe^YZbZci Vb^#9VchaZ 8djeZYZhXdjeZh


Zc
;A6H=EG:HH$9EE>

8ZgiV^cZbZci ‚\VaZ#>aVeedgiZ \gdjeZYVchaZh bVX]VcXZ#>a kZhi^V^gZ!^ahVkV^i &..+ZchZbWaZ#


eZchZci a¼jcYZh jcZXZgiV^cZ bdbZcih Vidj_djghZj „igZjcbZcZjg 8¼‚iV^ijc_djZjg
bZ^aaZjgh h‚g‚c^i‚YVch Y^[[^X^aZh#>a WZVjXdjeYZ hVch]VjhhZg ^ciZaa^\Zci!jc
8A6J9>D iZX]c^X^Zch <Gw<DGN idjhhZhY^hXdjgh# 7:GC6G9 g‚jhh^i| ?JA>:C gZheZXik^h"|"k^h G>86G9D aZidc#8¼Zhi AJ>H \Vgdcedh‚Zi
ZcigVˆcZjg
86v6E6 [gVcV^h#>aZhi 8DJE:I >aXVcVa^hZ A68DB7: bV^ciZc^gaV :H8J9w YZh_djZjgh#>a fjZafj¼jcYZigƒh ;:GC6C9:O Xjai^k‚#EVja
YZ;aVbZc\d!
XVe^iV^cZ \VgY^ZcYZ
YZa¼DA
[gVcXZi]dcc„iZ WjiYZa¼DAZi
eVg[V^iZbZciaZh Y^gZXiZjg
hedgi^[YZa¼DA!
Xd]‚h^dcZcigZaZh Zm"GZccV^h
ZiY‚[ZchZjg
c¼ViiVfjZ_VbV^h Zm"_djZjgYj ‚fj^a^Wg‚!fj^cZ Zm"ZcigVˆcZjg
YjEH<!
b‚g^iZVj_djgY¼]j^
VkZXhZh_djZjgh# ‚k‚cZbZcihZi i^ijaV^gZhZiXZjm fjZafj¼jceVg EH<ej^hXdVX] [V^ig^ZchVch aZgZheZXi#>a[V^i
YZa¼‚fj^eZ XdchZ^aaZgYj YZa¼6_Vm XdchjaiVci
YZAZ<jZc
YZ;gVcXZ eg‚h^YZci 6bhiZgYVb edjgGB8
?Za¼Veeg‚X^Z YdccZidj_djgh fj^_djZcibd^ch# kd^m^ciZgedh‚Z# VjEH< eZchZg#?ZaZkd^h eVgi^ZYZh
ZiI;&
WZVjXdje#?Z a¼^begZhh^dcYZ 8¼ZhiZhhZci^Za# >aZhig‚hZgk‚ VaaZgigƒh]Vji# ZcigVˆcZjghjc
eVgaZhdjkZci idjibVˆig^hZg# HZhXVjhZg^Zh bV^hh¼Zhi 8¼Zhi"|"Y^gZ eZjY^[[‚gZcihYZh
VkZXEVja#:iaZ 6kZXaj^!^ac¼nV Y¼VkVcibViX] Wdc^[^‚VkZXaZh jc\gVcYXajW VjigZheVghZh
Y^Vad\jZ!YVch _VbV^hYZhdjX^# hdciidj_djgh Vcc‚Zh#?Z\VgYZ Zjgde‚Zcdj fjVa^i‚h!hdc
jcZ‚fj^eZ!X¼Zhi HdcWjgZVjZhi edcY‚g‚ZhZi jcZmXZaaZci Zch‚aZXi^dc ediZci^Za!
igƒh^bedgiVci#¯ idj_djghdjkZgi#¯ _jhiZh#¯ hdjkZc^gYZaj^°¯ cVi^dcVaZ#¯ hVk^h^dc#¯

& Zg D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


IDJIHJGHEDGI
CDJK:A:heVXZ8dgedgViZ

Eajhg^X]Zeajh^ciZaa^\Zcieajhh^beaZ
EajhHedgi

A : B 6 < 6 O > C : H E D G I ; G : : 6I I > I J 9 :


L L L# ; G : : H E D G I# ; G

lll#[gZZhedgi#[g
PDF généré avec les solutions Sowedoo
- A¼wKwC:B:CI;DDI76AA
G:EÎG:H
F7KBB;=K;D

Z
Zc

XZ
cig
jg
gZh
Zb

iZh
C‚aZ&ZgbVgh&.+)

Zc
ed

Xd
h

id^

[‚g
hh

[V^
^c i

ih

ih
ah
8aV

K ^X

9 ^[
Cj

7j

7j

Ed
|Fj^beZg;^c^hiƒgZ
BVg^‚!(Zc[Vcih
&..-$&... GZccZh *Z *. &, - . )* (- ,
8djeZYZ;gVcXZ/&$&+8djeZYZaVA^\jZ/&$)
EajhbVjkV^hZeaVXZ -Z'Z_djgc‚Z E6AB6GÏH?DJ:JG

86HI6CD$E6CDG6B>8
BZ^aaZjgZeaVXZ (Z&%Z|&-Z_ &,h‚aZXi^dchZc‚fj^eZYZ;gVcXZ·*Wjih
KV^cfjZjg8djeZYZhXdjeZh&..+EH<
&...$'%%% GZccZh &(Z )( &' , &* )) )- ") ;^cVaZ8djeZYZhXdjeZh&..,EH<
8djeZYZ;gVcXZ/&$)8djeZYZaVA^\jZ/&$) &$'[^cVaZA^\jZYZhX]Vbe^dch&..*EH<
EajhbVjkV^hZeaVXZ &-Z-Z_djgc‚Z &$'[^cVaZ8djeZYZhXdjeZh&..)EH< ?:6C"B>8=:A6JA6H
&$'[^cVaZ8djeZJ:;6&..(EH<
BZ^aaZjgZeaVXZ Z Z
* &+ |&, _Z
8]Vbe^dccViYZ;gVcXZ&..)EH<
EGwH>9:CI9:A¼DA
8djeZYZ;gVcXZ&..(!&..*Zi&..-EH< ®EVjaAZ<jZchV^iZmead^iZg&%%YjediZci^Za
'%%%$'%%& GZccZh +Z )- &) + &) )+ (. , 8djeZYZaVa^\jZ&..*Zi&..-EH< Y¼jcZ‚fj^eZYZ[ddiWVaa#²Andc!cdjhbZiidch
8djeZYZ;gVcXZ/&$)8djeZYZaVA^\jZ/&$&+ Igde]‚ZYZhX]Vbe^dch&..*EH< |hVY^hedh^i^dcYZhbdnZch^bedgiVcihZiYZ
EajhbVjkV^hZeaVXZ &+Z.Z_djgc‚Z fjVa^i‚#:i^ag‚Va^hZYZhX]dhZhZmigVdgY^cV^gZh#
BZ^aaZjgZeaVXZ +Z&gZ!'.Z|()Z_ 7>A6C?DJ:JG Edjgbd^!EVjaAZ<jZcgZhhZbWaZWZVjXdje
7gZhi&.-($-)|&.--$-. |6ghƒcZLZc\Zg#>aVhdc^ciZaa^\ZcXZ#:iXZiiZ
'%%'$'%%( Andc &Zg +- &. && - +( )& '' CVciZh&.-.$.%Zi&..%$.& VeegdX]Zidj_djghedh‚ZYZhgZcXdcigZh!bVa\g‚
8djeZYZ;gVcXZ/&$-8djeZYZaVA^\jZ/&$-
EH<&..&$.'|&..,$.- jcZegZhh^dcfjVh^dbc^eg‚hZciZ#IdjiZcVnVci
),-bViX]Zhegd[Zhh^dccZah hVegdegZXdcXZei^dcYj_ZjZiYZaV\Zhi^dcYZ
EajhbVjkV^hZeaVXZ &%Z-ZZi.Z_djgc‚Zh
Ydci)))ZcA&"'(Wjih a¼‚fj^eZ#HVg‚jhh^iZVjc^kZVjYZhg‚hjaiVih
BZ^aaZjgZeaVXZ &Zg&,Z!'(Z!('Z|(-Z_ **bViX]ZhYZ8djeZY¼:jgdeZ"*Wjih bZXdc[dgiZYVchXZfjZ_ZeZchZYZaj^#
?Zhj^heZghjVY‚fj¼^aZhia¼jcYZhbZ^aaZjgh
'%%($'%%) Andc &Zg ,. ') , , +) '+ (- E6AB6GÏH:CIG6ÑC:JG ZcigVˆcZjgh[gVcV^h#>aVedjgaj^aV_ZjcZhhZ!
8djeZYZ;gVcXZ/&$-8djeZYZaVA^\jZ/&$&+ ;^cVaZ8djeZ^ciZgidid&...GZccZh aZbdYZgc^hbZZiaZhg‚hjaiVih#9ƒhhdcVgg^k‚Z!
EajhbVjkV^hZeaVXZ &,Z&gZ_djgc‚Z Igde]‚ZYZh8]Vbe^dch'%%'!'%%( ^aVhj[‚Y‚gZgZih¼VYVeiZg|jcgZXgjiZbZcifj^
BZ^aaZjgZeaVXZ &Zg'.Z!(%Z!('Z|(-Z_ Zi'%%)Andc c¼‚iV^ieVhidiVaZbZciaZh^Zc#²XZi^igZ!_ZXgd^h
8]Vbe^dcYZ;gVcXZ'%%(Zi'%%)Andc fjZX¼Zhia¼ZcigVˆcZjgfj^ZhiaZeajhZce]VhZ
"ILANENCHAMPIONNATDE&RANCE "ILANEN#OUPED%UROPE VkZXbZhb‚i]dYZhYZbVcV\ZbZci#8¼ZhiXZaj^
8aVhhZbZciZcA^\jZ&YZh‚fj^eZhZcigVˆc‚ZheVgEVjaAZ<jZcYZej^h&..- 8djeZ^ciZgidid&...$'%%% H6>HDC'%%)"'%%* VkZXaZfjZa_¼V^aZeajhYZ[VX^a^i‚edjgigVkV^aaZg#
&Zg GZccZhWViijZc[^cVaZeVgaV?jkZcijhIjg^c%"'!'"'
6egƒh-_djgc‚ZhYZX]Vbe^dccViYZA^\jZ& ?ZcZgZ\gZiiZXZeZcYVcifj¼jcZX]dhZVkZXaj^/
*Z &Zg &Zg
A^\jZYZh8]Vbe^dch'%%'$'%%( (Z/)k^Xid^gZh!)cjah!%Y‚[V^iZ! ^ac¼nVeVhYZ\Zhi^dcYjadc\iZgbZ#8Zc¼Zhi
*Z +Z
Andc‚a^b^c‚Zc&gZe]VhZ(ZYj\gdjeZ9 -Wjihedjg!(XdcigZ! * eVhjcZfjZhi^dcYZXdcigViej^hfjZaV
HVch
XajW BZ^aaZjgXaVhhZbZci/ XdcÃVcXZZm^hiZZcigZcdjh!ZiZaaZZhi[dgiZ#
&(Z 8djeZJ:;6'%%'$'%%(
&%Z Andc‚a^b^c‚Vj(ZidjgeVg9Zc^oa^hedg%"%!%"& 'Z,Z_djgc‚Z BV^h^acZkZjieVhhZegd_ZiZgc^h¼Zc\V\ZgYVch
EajhbVjkV^hXaVhhZbZci/ aZadc\iZgbZXVg^aVXZgiV^cZbZci‚i‚Y‚j
A^\jZYZh8]Vbe^dch'%%($'%%)
&*Z
Andc‚a^b^c‚Zc&$)YZ[^cVaZeVgaZ;8Edgid%"'!'"' &%Z(Z_djgc‚Z eVga¼Zck^gdccZbZciYj[ddiWVaa°¯
HV^hdc HV^hdc HV^hdc HV^hdc HV^hdc HV^hdc
&..-$.. &...$'%%% '%%%$%& '%%&$%' '%%'$%( '%%($%) 
L6<

’ F[di[p#leki\W_h[fWhj_[Wk`ekhZ½^k_Z[b½ƒb_j[Z[i kV^hg‚jhh^g|bV^ciZc^gaZXVe#B„bZh^_Z Y^hfj¼jceVhhV\Z|a¼‚igVc\ZgedjggV^i„igZ


[djhW‰d[khi\hWd‚W_i5 edhhƒYZjcZ[[ZXi^[igƒh^ci‚gZhhVci!XZaVcZ Zcg^X]^hhVci#
?ZbZY^hfjZ_Z[V^heVgi^ZYZhfjZafjZhiZX]c^X^Zch b¼Zbe„X]ZeVhY¼„igZXdchiVbbZcik^\^aVci!YZ
fj^h¼dXXjeZciYZ\gVcYhXajWh#BV^h_¼V^WZVjXdje bZY^gZfjZaZh‚fj^a^WgZhhdci[gV\^aZh#:ifjZ Gk[bi][dh[iZ[Yedi[_biZedd[h_[p#leki
YZgZheZXiedjgYZhZcigVˆcZjghfj^dcieZji"„igZ eVgXdch‚fjZciXZaVb‚g^iZYZa¼ViiZci^dc }Z[`[kd[i\eejXWbb[khi5
bd^chYZg‚hjaiVih!jcZ[[ZXi^[bd^chegZhi^\^Zjmdj eZgbVcZciZ# EgZcYgZYjeaV^h^g#8¼ZhiaZeajh‚k^YZci#Hjgidji!
fj^hdcibd^chZmedh‚hb‚Y^Vi^fjZbZciXdbbZ cZeVhhZegZcYgZigdeVjh‚g^Zjm#>acZ[VjieVh
?ZVc;ZgcVcYZo|BZiodj8aVjYZEjZa|A^aaZ# 7k\W_j"i[h_[p#lekij[djƒfWhkd[[nfƒh_[dY[ ^bV\^cZgidjiYZhj^iZ[V^gZjcZXVgg^ƒgZfjVcYdcV
8Zjm"a|!XdbbZY¼VjigZhY¼V^aaZjgh![dcijc }b½ƒjhWd][h5 &(dj&)Vch#AZhX]dhZhhZYZhh^cZcijceZjeajh
ZmXZaaZciigVkV^aYVchYZhXajWhbd^chVbW^i^Zjm° Dj^!edjgfjd^eVh#8¼ZhifjZafjZX]dhZfjZ_Z iVgY#>a[VjiW^ZcigVkV^aaZg!bV^hcZeVh[V^gZYZ
c¼ZmXajheVh#8¼ZhijcZZme‚g^ZcXZfjZ_¼V^bZgV^h g„kZhXdbeaƒiZbZci[djh#>a[Vji\VgYZgaZhe^ZYh
LekiWhh_l[#j#_bZ[Zekj[h5 W^ZciZciZg#DckZggVeajhiVgYh^_¼ZcV^a¼deedgijc^i‚# hjgiZggZ#:iZhhVnZgYZgZhiZgfjZafj¼jcYZW^Zc#N
IdjiaZiZbeh?ZbZYZbVcYZidjhaZh_djghh^_Z B„bZh^Vj_djgY¼]j^_ZbZhZchigƒhW^Zc^X^!_ZbZ FHEFEIH;9K;?BB?IF7HB?ED;BL;BB7;J9>H?IGK;HEO
8DCH:>A<wCwG6A9J;>C>HIÏG:

®BVa\g‚hV ®8¼Zhijc\Vgdc ®8Zfj^Zhiigƒh ®:cYZkZcVci ®:ciVcifjZ ®EVjaZhi


8#7AJB7:G<$G:JI:GH$B6MEEE
?#7#6JI>HH>:G$;:E$E6CDG6B>8

6#BDJC>8$;:E$E6CDG6B>8

6#BDJC>8$;:E$E6CDG6B>8

g‚jhh^iZ!EVjac¼V g‚[a‚X]^#FjVcY^a [dgiVkZXEVja! ZcigVˆcZjg!EVja _djZjg!EVja‚iV^i ^ciZaa^\ZciZi


_VbV^h‚i‚jcZ ‚iV^i_djZjg!dc X¼Zhifj¼^aYdccZ ZhigZhi‚[^YƒaZ| igƒhiZX]c^fjZ! Xdbe‚iZci#>a
;:E$E6CDG6B>8

hiVg#?Zhj^higƒh hVkV^iidjhfj¼^a ^bb‚Y^ViZbZci aj^"b„bZ#AjX^YZ# ^ciZaa^\Zci! VjcZ\gVcYZ


[^ƒgZYZXZfj¼^aV VaaV^iYZkZc^g jcZg‚edchZ| 8¼ZhifjZafj¼jc edhh‚YVcijcZ XdccV^hhVcXZYj
B6G>:" VXXdbea^#?ZXgd^h 6A6>C ZcigVˆcZjg#>aVkV^i DA>K>:G c¼^bedgiZfjZaaZ 7:GC6G9 fj^cZh¼Zc[aVbbZ K>C8:CI k^h^dcXaV^gZYj NK:H8DAA:J ]Vjic^kZVj!XZ
7A6C8 ZcigVˆcZjg
;G6CvD>H: fj¼^a[ZgV^ijcigƒh GD8=: idj_djghjcVk^h fjZhi^dc#:aaZZhi A6B6 eVh#>aegZcY <JwG>C _Zj#:cigVˆcZjg! VY_d^ciYZa¼DA
fj^aj^eZgbZi
Zm"_djZjgYj Y^gZXiZjgYZaV Zm"XVe^iV^cZ Zm"_djZjg
A:<J:C Wdc‚ajedjghdc _jhiZZieZgi^cZci# Xdbbjc^XVi^dc XaV^gZZihdjkZci idj_djghaZiZbeh YZ7gZhi
^aZhiigƒh[^cZi Y¼Veeg‚]ZcYZg
EH<#8]Vg\‚Yj YjEH<ZiYZ
hVbƒgZ!
WdchZch!hV gZXgjiZbZci HZhVcVanhZh YZa¼DA edh^i^kZ#>aVjcZ GZccZh YZaVg‚[aZm^dc# ZiYjEH<! ]VW^aZ#>aZmXZaaZ idjiZhaZh
bV^gZYZ
XdchjaiVci
EZcXgVc! h^bea^X^i‚Zi VjEH< hdcieg‚X^hZh ZmXZaaZciZ[VXjai‚ ?ZcZhj^heVh YVchaViVXi^fjZ# h^ijVi^dch#B„bZ
hjgIEHhiVg
XdchZ^aaƒgZ eVgXZfj¼^aV^bZ Vjhh^W^ZcVegƒh Y¼VcVanhZ#ÌigZ hjgeg^hYZhV 6jb^a^ZjY¼jc h^!Vj[^cVa!X¼Zhi
\‚c‚gVaZYj
;^c^hiƒgZ aZh\Zch#?¼VYb^gZ jcZk^Xid^gZ YZjm[d^hYZhj^iZ g‚jhh^iZ#9Vch \gdjeZ!^a^che^gZ aj^aZY‚X^YZjg!
YZej^h'%%& hjgidjihdcXVabZ fj¼jcZY‚[V^iZ#>a X]Vbe^dcYZ jc\gdjeZ!^a aVhda^YVg^i‚# ^aZhiidj_djgh|
ZihViZbe‚gVcXZ# ZhiVjhh^igƒh[dgi ;gVcXZ!XZc¼Zhi Vidj_djghZj HVg‚jhh^iZZhi a¼‚XdjiZ#?ZbZ
>ai^ZciVYZ YVchaV\Zhi^dc eVh|aVedgi‚ZYZ a¼VeegdX]ZYj jcZWZaaZ^bV\Z [‚a^X^iZYZcdigZ
hdceƒgZ#¯ YZh]dbbZh#¯ idjiaZbdcYZ#¯ hZchXdbbjc#¯ YZhedgi#¯ XdaaVWdgVi^dc#¯

& Zg D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


CDJK:6J<G6IJ>I
Hjglll#[gZZhedgi#[gX]VfjZhZbV^cZ
9ZcdjkZaaZhgjWg^fjZh#
8¼ZhiW^ZcZiX¼ZhieVhX]Zg

A : B 6 < 6 O > C : H E D G I ; G : : 6I I > I J 9 :


L L L# ; G : : H E D G I# ; G

lll#[gZZhedgi#[g

PDF généré avec les solutions Sowedoo


&% ;><JG:KD>A:

>aZhiaZeajh\gVcY
bVg^cZchda^iV^gZ#
AZh[V^ihhdcia|#
AZhhjXXƒhVjhh^
7:CDÑIHI>8=:A76JI$9EE>

& ZgD 8 I D 7 G : ' % % )

PDF généré avec les solutions Sowedoo


&&

B>8=:A9:H?DN6JM

<:6CI
9:HD8:6CH
AZh`^eeZgYZ<‚VciZhiZca^XZXZlZZ`"ZcYedjggZbedgiZg
aZX]Vbe^dccViYjbdcYZYZhbjai^XdfjZh|BVghZ^aaZ#
>X^!aZh\ZchcZigVkV^aaZcieVhedjgjchVaV^gZ!bV^h
edjgjcWjiXdbbjc#?ZYZbVcYZWZVjXdje!bV^h
g^Zcc¼Zhi_VbV^h^bedh‚#?ZbZkd^hW^ZcXdbbZjc
E6AB6GÎH
V\^iViZjgYZXdbe‚iZcXZh¯!a}X]ZXZaj^fj^Vb^h I]ZIgVchVi'%%)/&ZgVkZX<‚Vci
=^hid^gZY¼‚id[[ZgjceVabVgƒhY‚_|jc^fjZ# Vjed^ciaVfj^aaZeZcYjaV^gZhjghdcegZb^Zg GdjiZYjG]jb'%%'/
+!*%b!hnhiƒbZg‚eVcYjVj_djgY¼]j^hjgidjhaZh &ZgVkZX<‚Vci
bdcdXdfjZhYZXdjghZVjaVg\Z#AVXdckZghVi^dc KZcY‚Z<adWZ'%%%/&ZghjgEG7

’
Hda^iV^gZYj;^\Vgd&..'Zi&..-!KZcY‚Z [dcYViZjghYZaVX‚aƒWgZ‚XdaZYZkd^aZYZh<a‚cVch! gZk^ZcijcZYZgc^ƒgZ[d^hhjghZhk^Xid^gZh# Hda^iV^gZYj;^\Vgd/&ZgZc&..-hjg
<adWZ'%%%!GdjiZYjG]jb'%%'!I]Z XZ7gZidcWV^\cZYVcha¼jc^kZghk‚a^fjZYZej^haV >aVYjbVa|h¼nViiVgYZg#®AVXdjghZ^ci‚gZhhVciZ I7H#'ZZc&..+hjgI7H#&ZgZc
IgVchVi'%%)#B^X]Za9Zh_dnZVjmZhiaZ cV^hhVcXZ#AZX]Vci^ZgcVkVaeViZgcZaaj^[ZgV Zhi[dgX‚bZciaVegdX]V^cZ#¯;VjhhZbdYZhi^Z4 &..'hjg<gdjeZ8djeZX]djm
eajh\gVcYbVg^cZchda^iV^gZfj¼dcc¼V^i_VbV^h XdbegZcYgZfjZaZWViZVjZhijchedgib‚XVc^fjZ# Cdc>bedhh^WaZYZYdjiZgYZaVk‚gVX^i‚ 9Zh^\c#'ZZc&..&hjgH`^eeZg:a[
Xdccj#AZh[V^ihhdcia|#AZhhjXXƒhVjhh^#HVeZVj! ®CdhWViZVjmcZhdgiZcieVhYZaVXj^hhZYZ?je^iZg! YZXZY‚iVX]ZbZcifjVh^Xdc[jX^Vc^hiZ#Hjgidji 8]Vbe^dccViYZ;gVcXZHda^iV^gZ
gVh‚ZYZegƒh!c¼ZhieVhg‚ZaaZbZcibVc\‚ZeVgaZ ^ahhdcia¼‚kdaji^dcYZhigdjkV^aaZhhjgYZhXZciV^cZh adghfj¼dchV^ifjZaVeajeVgiYZhigde]‚ZhYZ ]VW^iVWaZ&..+/&ZghjgI7H
hZa#HZhX]ZkZjm!iZcYgZbZciWdjXa‚h!cZY^hZci Y¼Vcc‚Zh#AViZX]c^fjZZhiVjhh^^bedgiVciZ B^X]Za9Zh_dnZVjmiZgb^cZci|aV`ZgbZhhZYZ IgVchVi6<'G&..'/&ZgVkZX
eVhaZjgXdjaZjg#HZhnZjm![dgX‚bZciWaZjh!cZ fjZa¼]jbV^cYVchaVk^Xid^gZ#¯ a¼‚XdaZYZhZhigd^hZc[VcihXdbbZg‚XdbeZchZh ?VXfjZh8VgV…hhjgH^aaEaZ^c;gj^i
hZbWaZcihVkd^g„igZb‚X]Vcih#B^X]Za9Zh_dnZVjm ²a¼}\ZYZ&-Vch!^aZbWVgfjZedjg[V^gZaZidjg YZaVe„X]Z|aVa^\cZ#N IldhiVg&..%/&ZgVkZX?ZVc
(.VchgZd^i]dcc„iZbZciYVchhdcWjgZVjYZ YjbdcYZVkZXwg^XIVWVganhjg8iZY¼dgadghYZ 8;DEÑJ87KC; BVjgZahjg:a[6fj^iV^cZ>>>
Edgi"AV[dg„i;^c^hiƒgZ!Vjb^a^ZjYZhVWVhZ aVL]^iWgZVY#Ej^h!eZcYVcik^c\iVch!^acVk^\jZ
de‚gVi^dccZaaZ#9Vchhdck^aaV\Z!Vjb^a^ZjYZh VkZXaZheajh\gVcYh?ZVcidi!?djgYV^c!BVjgZa!
h^Zch!hVchY‚YV^cc^ZmXƒhYZ[Vb^a^Vg^i‚#DcaZY^i AZ8Vb!<Vji^Zg!8VbbVh!ZiX#!hZ[dg\ZVcijcZ
h‚g^Zjm!^aeVgaZYZ®WdchZchYVchjcZVXi^k^i‚fj^ Zme‚g^ZcXZ]dghcdgbZZcbjai^ZibdcdXdfjZ#

@;KICI
ZhiidjihVj[jcZhX^ZcXZZmVXiZ¯#HZhXdc\‚cƒgZh BVa\g‚XZiiZVeegdX]ZXdaaZXi^kZ!X¼ZhiZchdadfj¼^a
bVg^chaZhjgcdbbZci®aZegd[ZhhZjg¯edjghdc Xdchigj^iaZheajhWZaaZheV\ZhYZhdceVabVgƒh
]VW^aZi‚iVXi^fjZZihdcVeegdX]Zb‚i]dY^fjZYZ ZcgZbedgiVciaZhfjVigZ‚egZjkZhbV_ZjgZh
aVbZg#>aZhiYgaZ!Zhe^ƒ\aZZi[^cVaZbZciigƒh
X]VgbZjg#®?ZcZkV^hfjVcYb„bZeVhbZi^gZg
Yj\ZcgZ#AZ\gVcYX]ZaZb# AY^Wbb[d][
jcZWVaaZYZe^c\"edc\YVchaZ\Zcdj\VjX]Z ¹6\^iViZjgYZXdbe‚iZcXZhº
h^_ZcZ\V\cZeVhjcZXdjghZ#AZeajh^bedgiVci ®?ZcZhj^hc^jcVkZcijg^Zgc^jceg‚XjghZjg!
ZhiYZgZhiZg[^YƒaZ|XZfjZ_Zhj^h#Cdc4¯IdjhaZh |a¼^bV\ZY¼jcBd^iZhh^Zg#:cbZg!^ahZYZbVcYV^i
^c^i^‚hgZXdccV^hhZcihdciVaZci!bV^h9Zh_dnZVjm Y¼VWdgYd‘^a‚iV^iZicZhVkV^ieVhXdbW^ZcYZiZbeh
c¼VeVhZcXdgZ‚i‚XdchVXg‚XdbbZjcZhiVg ^aVaaV^ibZiigZ#6j_djgY¼]j^!VkZXaZ<EH!_ZhV^h|eZj
VjegƒhYj\gVcYejWa^X#>aeZjib„bZeVgVˆigZ egƒhfjVcY_ZkV^hgZcigZgZi_ZbZYZbVcYZVkVciidji
Ikffehj[pb[iƒgk_f_[hiZ[AY^Wbb[d][
XdbbZjccV^c!Vjed^ciYZkjZcdidg^‚i‚! eVgd‘eVhhZg#8¼ZhiigƒhY^[[‚gZci#¯9Zej^hbVgh&...! [jWbb[plekibW`ek[hikhb[igkW_i
XdbeVg‚|jcwg^XIVWVgandjjcAd‰X`EZngdc# ®B^X]¼9Z_¼¯PcYag/hdcigƒhg‚eVcYjhjgcdbRY^g^\Z Z[IW_dj#Jhef[p$$$
;iiWo[pZ[]W]d[hb½kdZ[iXbekiedi
EZji"„igZXdccVˆi"^aaZhg^hfjZhYj_Zjb‚Y^Vi^fjZ4 jcZk‚g^iVWaZ‚fj^eZfj^gZ\gdjeZeajh^Zjghegd_Zih [jYWigk[jj[iZ[AY^Wbb[d][$
>ac¼VVjXjcZZck^ZYZh¼nWg’aZgaZhV^aZh#®?ZcZ[V^h ®BZgV\^i‚Z¯#DjigZhdcig^bVgVc+%e^ZYh!dc
eVhYZaVkd^aZedjgeVhhZg|aVi‚a‚!bV^heVgXZfjZ
_¼V^bZXZaV#H^dcYZbVcYZ|jcfj^YVbYVchaVgjZ
gZigdjkZaZhbdcdXdfjZhYZH‚WVhi^Zc?dhhZKB>
ZiK^cXZciG^djEG7!fj^egZcYgdciidjhaZhYZjmaZ
:CKDN:OKD>A:
fj^V\V\c‚aZYZgc^ZgKZcY‚Z<adWZ!^aYdccZgVYZjm Y‚eVgiYjKZcY‚Z<adWZ!aZ,cdkZbWgZegdX]V^c# E6GHBH
cdbhVkVciaZb^Zc#:aaZcBVX6gi]jg!YZjm^ƒbZ# ®A¼^Y‚ZZhiYZXdcXZcigZgZiY¼dei^b^hZgaZhhVkd^g"[V^gZ
:iNkZhEVga^Zg!edjghdcde‚gVi^dcYZhjgk^Z#8ZgiV^ch ZiaZh^c[gVhigjXijgZhedjgg‚Va^hZgYZhhncZg\^Zh &\V\cVciidjhaZh&*HBH  
bZhhV\Zhb‚Y^Vi^fjZh‚iV^ZciVbW^\jhZi_¼V^jceZj ZiYZh‚Xdcdb^ZhY¼‚X]ZaaZg‚ZaaZh¯!Zmea^fjZaZ ?Zj\gVij^ihVchdWa^\Vi^dcY¼VX]Vidg\Vc^h‚eVgHedgiB‚Y^VhZiHigVi‚\^Zh!&+!gjZG^kVn.'(%%AZkVaad^h"EZggZi!kVaVWaZZc;gVcXZb‚igdeda^iV^cZYj&Zg
Vj,dXidWgZ'%%)!g‚hZgk‚|idjiZeZghdccZbV_ZjgZhVj[eVgiZcV^gZhdjhdX^‚i‚hdg\Vc^hVig^XZh#
YZbVa|VYbZiigZaVbVa]dcc„iZi‚^ciZaaZXijZaaZ# bVˆigZYZha^Zjm!Zc[V^hVcik^h^iZgaZh^chiVaaVi^dch EdjgeVgi^X^eZg/:ckdnZgKD>A:eVgHBHVj,&%&%%!*%:jgdhII8$Zckd^ eg^mYjHBH#AZh\V\cVcihhZgdciY‚h^\c‚hZc[dcXi^dcYjgVc\Y¼Zckd^YZ
aZjgbZhhV\Z#JchZjaeg^mViig^Wj‚eVgeVgi^X^eVcib„bZcjb‚gdYZi‚a‚e]dcZbdW^aZ#Adihb^hZc_Zj/"&Wadjhdc@"8]VaaZc\ZY¼jcZkVaZjgjc^iV^gZ
BV^hWdc°?Zb¼Zc[djh#?¼V^\V\c‚¯!Xdc[^Z"i"^a d‘igVkV^aaZcijcZfj^coV^cZYZeZghdccZh# XdbbZgX^VaZYZ&*%ZjgdhII8'%eg^mb^hZc_Zj#"&XVhfjZiiZ@"8]VaaZc\ZY¼jcZkVaZjgjc^iV^gZXdbbZgX^VaZYZ'%ZjgdhII8
*%eg^mb^hZc_Zj#;gV^hYZeVgi^X^eVi^dcZiYZg‚XaVbVi^dcgZbWdjgh‚hVjmXdcY^i^dcheg‚kjZhYVchaZgƒ\aZbZci#Gƒ\aZbZciXdbeaZiYj_ZjY‚edh‚
VkZXjchdjg^gZZcXd^c#®AVkd^aZZhijchedgi :m^\ZVciVkZXaj^"b„bZ!^aa¼ZhiVjhh^VkZXhdc X]ZoBVˆigZBDCI6C:!=j^hh^ZgYZ?jhi^XZ!(&%%%IdjadjhZ#Gƒ\aZbZciVYgZhh‚\gVij^iZbZcieVgXdjgg^Zg|idjiZeZghdccZZc[V^hVciaVYZbVcYZ|
Eajg^bZY^V"®?:J@"8=6AA:C<:HEDGI;G::¯!&&gjZYZ8VbWgV^!,*.)*EVg^hXZYZm&.;gVcXZ#EdjgidjiZg‚XaVbVi^dc!ZckdnZoaZbdi8DCI68IeVg
HBHVj,&%&%#8dc[dgb‚bZci|aVAd^!kdjhY^hedhZoY¼jcYgd^iY¼VXXƒh!YZgZXi^ÄXVi^dcZiYZhjeegZhh^dcYZhYdcc‚hcdb^cVi^kZhkdjhXdcXZgcVci#
Y¼Zme‚g^ZcXZ¯!B^X]Za9Zh_dnZVjmg‚[jiZaZ]VhVgY! ‚fj^eZ#®?¼V^a¼ZmZbeaZYZbZheVgZcih!fj^cZhdci
b„bZh¼^agZXdccVˆia¼Va‚Vid^gZ#;^ahY¼jcYZh _VbV^heVgi^hZckVXVcXZh!fjZ_Zg‚eƒiZjceZj#

& ZgD 8 I D 7 G : ' % % )

PDF généré avec les solutions Sowedoo


&' 8=6AA:C<:I:CC>H

EVja"=Zcg^BVi]^ZjYZkgV^i
„igZa¼^ck^i‚YZYZgc^ƒgZ
]ZjgZYjidjgcd^
?:6C"E6JAI=DB6H$;:E$E6CDG6B>8

<G6C9EG>M9:ANDC

A¼6EG:H"8DJE:96K>H
AZidjgcd^andccV^hZhijcZ‚iVeZXa‚YZaVhV^hdc^cYddg#AZeaViZVjZhigZaZk‚# h‚g^ZjmedjgaVk^Xid^gZ#EdjghVeVgi!aZHj‚Yd^h
?dVX]^b?d]Vchhdcc•&+bdcY^Va!YZb^"ÃcVa^hiZ
BVa\g‚aZjgY‚[V^iZZcYZb^"[^cVaZbdcY^VaZ!aZh;gVcV^hnVgg^kZciedjgWg^aaZg# YjYZgc^ZgJHDeZcZhia¼jcZYZhg‚k‚aVi^dchYZ
aVhV^hdc'%%)#HdcXdbeVig^diZGdW^cHdYZga^c\
hZgVVjhh^|hdcV^hZ!idjiXdbbZaZHadkVfjZ

’
AZEVaV^hYZhHedgihYZ<ZgaVcYZhia^‚| A¼VceVhh‚!a¼6aaZbVcYGV^cZgHX]jZiiaZgVkV^i 9db^c^`=gWVin!kV^cfjZjgYZigd^hidjgcd^h
G:EÎG:H idji_VbV^h|a¼]^hid^gZYjiZcc^h[gVcV^h/ Vhhjb‚eaZ^cZbZcihdcgaZYZ[Vkdg^#?djZjg XZiiZhV^hdcYdciXZaj^YZBVghZ^aaZ#
<gVcYEg^mYZiZcc^hYZAndc X¼ZhiYVchXZiVcigZYjhedgiandccV^hfjZ hjgeg^hZYZaVhV^hdc'%%(ÃcVaZYZa¼DeZc DjigZaZh;gVcV^hkd^gZcXVYg‚!dceZjiXdbeiZg
9j)Vj&%dXidWgZ a¼‚fj^eZYZ;gVcXZVkV^iXdcfj^h!Zc&..&!aV8djeZ Y¼6jhigVa^ZZi+ZeaVXZbdcY^VaZ!aVi„iZYZh‚g^Zc•& hjgaZiVaZciYjBVgdXV^c=^X]Vb6gVo^!Yj
VjEVaV^hYZhhedgihYZ<ZgaVcY 9Vk^h#AVWVcYZ|NVcc^X`CdV]!ZbbZc‚ZeVg<jn YZa¼‚egZjkZVkV^iZcaZk‚aZi^igZVjmY‚eZchYj =daaVcYV^hBVgi^cKZg`Zg`!YjGjhhZB^`]V^a
I‚a#/%),'-%%+.( ;dg\ZiZi=Zcg^AZXdciZ!VkV^igZbedgi‚aZX‚aƒWgZ ;gVcV^h6gcVjY8a‚bZci#²aVeZ^cZYZej^haZ Ndjo]cndjYj7Za\ZMVk^ZgBVa^hhZedjgVhhjgZgaZ
IVg^[h/YZ&+!*%æ|)-!*%æ hVaVY^ZgY¼Vg\Zci[VXZVjmwiVih"Jc^hY¼6cYgZ Y‚WjiYZa¼Vcc‚Z!^aZhhV^ZgVYZgZaZkZgaVi„iZ# heZXiVXaZZiZcÄVbbZgjcejWa^XandccV^h]VW^ij‚
6\Vhh^ZiYZEZiZHVbegVh!*.VchVegƒhaZh AZgVX]Vi!X¼Zhi‚\VaZbZciXZfjZX]ZgX]ZgV Vjm_da^h\ZhiZh°XZjmYZaZjgh[ddiWVaaZjgheVg
A¼^ci‚\gVa^i‚YZhgZXZiiZh X‚aƒWgZhbdjhfjZiV^gZh#6cX^ZcbZbWgZYZ a¼:heV\cda?jVc8Vgadh;ZggZgdkV^cfjZjgYZ ZmZbeaZ!ig^eaZhX]Vbe^dchYZ;gVcXZYZ[ddiWVaaN
YZhfjVa^[^XVi^dch)!*%æ a¼‚fj^eZYZ;gVcXZYZ8djeZ9Vk^h!<^aaZhBdgZiidc GdaVcY"<VggdhZic•&bdcY^VaZc'%%(!WaZhh‚ 9>H?IJ?7DB797P;
aVeaVXZedjgaZhYZjm_djgh! g„kV^iY¼dg\Vc^hZgjcZ‚egZjkZYZiZcc^h|Andc!hV YjgVcijcZeVgi^ZYZaVhV^hdc#HZhXdbeVig^diZh
aZh'Zi(dXidWgZ! k^aaZcViVaZ#8¼ZhiX]dhZ[V^iZZc&.-,VkZXXdbbZ 6aWZgi8dhiVkV^cfjZjgYZGdaVcY"<VggdhZc'%%'
hZgVgZkZgh‚Z|a¼VhhdX^Vi^dc egZb^ZgaVjg‚ViNVcc^X`CdV]#AZh6b‚g^XV^ch ZiIdbbnGdWgZYdhZgdci‚\VaZbZcieg‚hZcih#
AZh:c[VcihYZaVIZggZ ?d]cBX:cgdZ&.-.ZiEZiZHVbegVh&..&"&..'"
A:H;G6Cv6>H:CA>8:
&..(Ã\jgZciVjhh^VjeVabVgƒhYZXZidjgcd^ 8dc[^VcXZbVm^bVaZ KV^cfjZjg|AndcZc&..,!;VWg^XZHVcidgdhZgVeg‚hZci
YZkZcja¼jcYZheg^cX^eVjmYZaVÃcYZhV^hdc# 9¼VjigZh_djZjgh!VjXdcigV^gZ!hZeg‚hZciZgdci| edjgaV&%Z[d^hYVchaZG]cZ#6gcVjY8a‚bZciVaj^Vjhh^
8ZiiZVcc‚Z!aVi„iZY¼V[ÃX]ZYZa¼‚egZjkZhZgVaZ AndcVkZXjcZXdcÃVcXZfjVh^bVm^bVaZ#8ZhZgVaZ gZbedgi‚|AndcZc'%%%hdcegZb^Zgigde]‚ZhjgaZX^gXj^i6IE#
7g^iVcc^fjZI^b=ZcbVc#AZc•)bdcY^VaVj XVhYj8]^a^ZcC^XdaVhBVhhj!YdjWaZb‚YV^aa‚Y¼dg ;^cVa^hiZbVa]ZjgZjma¼VceVhh‚!^aW‚c‚[^X^ZXZiiZVcc‚Z
XaVhhZbZci6IEZ[[ZXijZjcZYZhZhbZ^aaZjgZh |6i]ƒcZhZch^beaZZiZcYdjWaZVjmXi‚hYZhdc Y¼jcZ^ck^iVi^dc!kjhdcXaVhhZbZciVXijZac•+*#EVja"=Zcg^
hV^hdchhjgaZX^gXj^iZcViiZ^\cVciaZhYZb^"ÃcVaZh XdbeVig^diZ;ZgcVcYd<dcoVaZo#6jg‚da‚hYZaZjg BVi]^Zj!kV^cfjZjgYjidjgcd^Zc'%%'!YZkgV^iaj^Vjhh^Zc
|GdaVcY"<VggdhZi|a¼JHDeZc#KV^cfjZjg| b‚YV^aaZYZWgdcoZZcYdjWaZ|6i]ƒcZh!aZh dWiZc^gjcZ\g}XZ|hVk^Xid^gZXdcigZBdnVZc8djeZ9Vk^h#
a¼VjidbcZ'%%(|EVg^haZeajh\gVcYidjgcd^YZhV 8gdViZh>kVcA_jW^X^XkV^cfjZjgYjidjgcd^Zc'%%& :c[^c!aZhdg\Vc^hViZjghdciY‚X^Y‚Y¼^ck^iZgVjmfjVa^[^XVi^dch
XVgg^ƒgZ^aVjgV|X¶jgYZaVcXZg|AndchVhV^hdc ZiBVg^d6cX^XYZb^"ÃcVa^hiZ|L^bWaZYdcZc <V…aBdc[^ah!c•&bdcY^Va_jc^dg#
^cYddghjgaZhb„bZhWVhZh# _j^aaZiYZgc^ZghZgdci‚\VaZbZciYZhXVcY^YVih

&Z g  D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


A : B 6 < 6 O > C : H E D G I ; G : : 6I I > I J 9 :
L L L# ; G : : H E D G I# ; G

CDJK:6J<G6IJ>I
HedgiZhiZca^\cZ

lll#[gZZhedgi#[g

EVgaZo"Zc|kdhVb^h
8¼Zhibd^chX]ZgfjZeVhX]Zg

PDF généré avec les solutions Sowedoo


&) 8=6AA:C<:6G7>IG:H

¹A¼VgW^igV\ZkVkZgh
aVegd[Zhh^dccVa^hVi^dc
Zi!b‚XVc^fjZbZci!
egdYj^ihZhkZYZiiZhº
>X^!E^Zgaj^\^8daa^cV
8=G>HI>6CA>:L><$9:69A>C:

&Z g  D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


&*

A¼6G7>IG6<:KJE6G

;>C@>:A@G6JI >I>CwG6>G:
²aVkZ^aaZYZh?djgc‚ZhYZa¼VgW^igV\Z!VjmfjZaaZh^aeVgi^X^eZ! A¼VgW^igZ!aj^!VjXdcigV^gZ!^bedhZVjm_djZjgh
YZcZeVhidjiYdccZg!hVchfjd^^ah[gVcX]^gV^Zci
aZe]^adhde]Z6aV^c;^c`^Za`gVjicdjheVgaZYZa¼]dbbZ aZha^b^iZhYZaVgƒ\aZ#8¼ZhiXZfj^[V^iidjiZ
aVWZVji‚Yjhedgi#
Zccd^g!XZ®X‚aƒWgZ^cXdccj¯\VgVciYZa¼Zheg^iYj_Zj#
B½Wkje#WhX_jhW][[ij#_bfeii_Xb[5
IdjiaZbdcYZZcV[V^ia¼Zme‚g^ZcXZYVchhdc

’
Lekih[dZ[p#lekiikhb[iijWZ[i5 B[i_cW][ijƒbƒl_iƒ[iZƒYhƒZ_X_b_i[dj#[bb[i Zc[VcXZ#8¼ZhiVWhdajbZci^bedhh^WaZYVchaZhedgi
®7ZVjXdjebd^chfj¼VkVci#9¼VWdgY| b[YehfiWhX_jhWb5 YZ]Vjic^kZVj#A¼^ci‚g^dg^hVi^dcYZhgƒ\aZh|XZ
XVjhZYZaVi‚a‚k^h^dc#:chj^iZ!eVgXZfjZ CdjhVkdchidj_djghhjfjZa¼VgW^igZ‚iV^i[V^aa^WaZ ed^ciZhijcZjide^Zcdchdj]V^iVWaZ#:ceajh!XZaV
B6GI>C7JG:6J$6;E

_Zc¼V^bZeajha¼Vibdhe]ƒgZYZhhiVYZhYZhhiVYZh bV^haZejWa^X!hVcha¼V^YZYZaVk^Y‚d!a¼‚iV^iVjhh^# cj^gV^iXZgiV^cZbZci|aVfjVa^i‚YjheZXiVXaZ#


YZ[ddiWVaaZceVgi^Xja^Zg#?ZcZXgd^heVhfjZbV 6kZXaVi‚a‚k^h^dc!h¼deedhZcijcVgW^igZ[V^aa^WaZ
b‚bd^gZZbWZaa^hhZaZhX]dhZhbV^h^abZhZbWaZ ZijcejWa^Xfj^hZhZci^c[V^aa^WaZ#AZg‚hjaiVicZ B½WhX_jh[f[kj#j#_bYhƒ[hZ[b½_d`kij_Y[5
fjZaZejWa^XYZbdcZc[VcXZZiYZbdc eZji„igZfjZc‚\Vi^[edjga¼^bV\ZYZhVgW^igZh# 7^Zch’g!idjiXdbbZaV_jhi^XZ]jbV^cZXg‚Z
6A6>C;>C@>:A@G6JI
VYdaZhXZcXZ‚iV^iWZVjXdjebd^chX]Vjk^c#?ZcZ :cb„bZiZbeh!aVk^Y‚deZji„igZjcdji^aedjg eVg[d^hYZa¼^c_jhi^XZ#AZhZggZjghY¼VgW^igV\Z[dci
E]^adhde]Z
hjeedgiZeVhfjZa¼dch^[ÄZhnhi‚bVi^fjZbZciaZh a¼VgW^igZ#6jgj\Wn!edjgXZgiV^cZhY‚X^h^dchhVkd^g eVgi^ZYj_ZjZieZjkZcib„bZeVgi^X^eZgVj
C‚|EVg^hZc&.).
‚fj^eZhVYkZghZhZifj¼dcaZhVXXjZ^aaZVkZXYZh h^!dj^djcdc!aZWVaadcV‚i‚VeaVi^aZhVgW^igZh X]VgbZYZhV¹\adg^ZjhZ^cXZgi^ijYZº!|XdcY^i^dc
'%%(/6jcdbYZa¼VjigZ
X]VchdchdWhXƒcZh#8ZiiZY‚\gVYVi^dcYZa¼‚iVi ji^a^hZciigƒhW^ZcaVk^Y‚d#9VchaZ[ddiWVaa!h^a¼dc fj¼ZaaZhcZhd^ZcieVhigdecdbWgZjhZh#8ZaVY^i!
'%%'/A¼>beVg[V^iYjeg‚hZci
'%%'/JcZkd^mk^Zci Y¼Zheg^iYZhhjeedgiZjghb¼Zhie‚c^WaZ# YZkV^i|X]VfjZXdciZhiVi^dcXdckdfjZgaVk^Y‚d! YVchaZhedgiYZ]Vjic^kZVj!a¼^bedgiVcXZYZ
YZa¼VjigZg^kZ :cb„bZiZbeh!a¼VbW^VcXZY¼jchiVYZfj^k^WgZ aZbViX]YjgZgV^iYZjm]ZjgZhYZeajh# XZgiV^chbViX]ZhZhiiZaaZbZcik^iVaZedjgaZh
&.-,/AV9‚[V^iZYZaVeZch‚Z |a¼jc^hhdcZhi^ggZbeaVVWaZ# _djZjgh!aZhXajWhdjaZhhedchdghfjZa¼ZggZjg
&.-,/AZCdjkZVj 9ecc[dj\W_h[WZc[jjh[b½_Zƒ[gk[b½WhX_jh[[ij Y¼VgW^igV\ZYZk^Zcijc‚k‚cZbZciXdhb^fjZ#
9‚hdgYgZVbdjgZjm ;djWdjgk[if[YjWj[kh"…j[i#lekiWjj[dj_\ kd…jh[\W_bb_Xb[5
6c^bZ!idjhaZhhVbZY^h! }b½WhX_jhW][5 >acZ[VjYgV^ieVhfjZaViZX]c^fjZcdjhgZcYZ! BWl_eb[dY[[jb½WhX_jhW][5
YZ.]&%|&%]! vVY‚eZcYYZhhedgih#:cgj\Wn!_¼nhj^hViiZci^[ cdjhaZejWa^X!^c[V^aa^WaZ#9¼VjiVcifjZXZX^VYZh 8Zfj^h¼ZhieVhh‚|GdbZ|aVb^"hZeiZbWgZ
a¼‚b^hh^dc®G‚ea^fjZh¯ bV^h_Zc¼nXdbegZcYhg^Zc#9¼V^aaZjgh!eZghdccZc¼n Xdch‚fjZcXZhhjgaZhiZggV^chYZhbViX]ZhYj PcYag!6cYZgh;g^h`!a¼VgW^igZhj‚Yd^hYZ6HGdbZ·
hjg;gVcXZ8jaijgZ XdbegZcYg^Zc!XZfj^[V^ifjZa¼VgW^igZZhiegdi‚\‚ Y^bVcX]Z#A¼VYdaZhXZcifj^VkjjcVgW^igZhZ 9ncVbd@^Zk!V‚i‚ViiZ^cieVgjcegd_ZXi^aZaVcX‚
eVga¼deVX^i‚ZiaZbnhiƒgZYZhgƒ\aZhYj_Zj#EVg igdbeZg|aVi‚a‚k^h^dcc¼VeVhiZcYVcXZ|gZheZXiZg YZhig^WjcZhRb¼VViig^hi‚hVchbZhjgegZcYgZ#
XdcigZ!aZhgƒ\aZhYj[ddiWVaahdciWZVjXdjeeajh hdcVgW^igZ!bV^heajii|aZb‚eg^hZg#AVY^[ÃXjai‚ >anVjciZac^kZVjYZk^daZcXZYVchaZh\gVY^ch°
igVcheVgZciZh!YdcXa¼VgW^igZZhijcZhdgiZYZWdjX YZgZXgjiZgYZhVgW^igZhk^ZcihjgidjiY¼jcZ^bV\Z DcXgdnV^ifjZXZ\ZcgZY¼‚k‚cZbZcih‚iV^ig‚hZgk‚
‚b^hhV^gZ!hVchXZhhZXdciZhi‚#8ZiiZXdciZhiVi^dc g‚eVcYjZ#A¼VgW^igZhZgV^iXZaj^fj^XdchZci|k^Z^aa^g# VjmHjY"6b‚g^XV^ch#6jeVgVkVci!aZhedgi‚iV^i
h¼V\\gVkVcieVgaZW^V^hYZaVi‚a‚k^h^dc#AZejWa^X AZhVjigZhg‚h^hiZgV^Zci!hZY^gV^Zcifj¼^aheZjkZci eVgi^ZegZcVciZY¼jcegdXZhhjhYZX^k^a^hVi^dc#
hZhZcihje‚g^Zjg|a¼VgW^igZ#8dbbZidjiaZbdcYZ! ZcXdgZ„igZ_djZjg#:cXdgZjcZb^cjiZ! 6j_djgY¼]j^!jcegdXZhhjhYZ¹Y‚X^k^a^hVi^dcº
^ab¼Vgg^kZYZeZhiZgXdcigZjcZY‚X^h^dcVgW^igVaZ bdch^ZjgaZWdjggZVj° Zhi|a¼¶jkgZZiaZhedgiZhiZcigVˆc‚YZYVch#
fj^bZeVgVˆi^c_jhiZ!bV^h_Zc¼V^bZeVha¼^Y‚Z
c‚gdc^ZccZhj^kVciaVfjZaaZ_¼ZchVjgV^heajhfjZaj^ Gk[f[kjWffehj[hb½[nfƒh_[dY[Z[b½WhX_jhW][5 B½WhX_jh[Ze_j#j#_b…jh[kdWdedoc[Wkc_b_[k
ZifjZ_ZedjggV^hV^ch^WV^hhZgaZedjXZ#7gZ[!_¼V^ 8ZaVVjcgaZ‚YjXVi^[‚cdgbZ#AZhdX^dad\jZ Z[iijWhi5
eajiiiZcYVcXZ|eaV^cYgZa¼VgW^igZfj¼|a¼^chjaiZg# CdgWZgi:a^VhY‚Ãc^hhV^iaZhedgiXdbbZaZ ?ZcZXgd^heVhfjZXZaVhd^iedhh^WaZ#A¼VgW^igV\Z
¹Xdcigdad[Zbdi^dchº#Kdjha^W‚gZokdh‚bdi^dch YZhgZcXdcigZhYZ]Vjic^kZVjYZbVcYZjcZ
Zikdhejah^dchYZbVc^ƒgZXdciga‚Z#8¼ZhiaV bVˆig^hZYZhd^!jcZh‚g‚c^i‚ZijcZXdccV^hhVcXZ
X^k^a^hVi^dcb„bZ#:cZ[[Zi!dccZX^k^a^hZeVhaZh ed^cijZYZhgƒ\aZhfj^cZh¼VXfj^ƒgZcifj¼VkZX
\ZcheVgaVejgZZih^beaZg‚egZhh^dcYZaZjgh a¼Zme‚g^ZcXZ#Edjgg‚edcYgZ|XZhZm^\ZcXZh
A:H?DJGCw:H9:A¼6G7>IG6<: ^chi^cXihbV^heVga¼^bedh^i^dcY¼jcZ[dgbZ#:i
a¼VgW^igV\Z!_jhiZbZci!X¼ZhiaZgZheZXiYZaV[dgbZ#
\gVcY^hhVciZh!XZiiZVXi^k^i‚kVkZghaV
egd[Zhh^dccVa^hVi^dcZi!b‚XVc^fjZbZci!egdYj^i
AZhegZb^ƒgZh_djgc‚ZhYZa¼VgW^igV\Z jcViiVfjVcieZgYVcihVX]VjhhjgZ! EdjgXZaj^fj^ZhiVgW^ig‚!X¼Zhia¼VeegZci^hhV\ZYZ hZhkZYZiiZh#BV^h_ZY‚eadgZfjZXZgiV^ch!XdbbZ
dci‚i‚dg\Vc^h‚ZhZc'%%'| Xdci^cjZhVXdjghZ!i^gZZibVgfjZ# aVa^b^iZ#:iej^ha¼VgW^igZZhia|edjgcdjhgVeeZaZg a¼>iVa^Zc8daa^cV!hd^Zci¹o^YVc^h‚hº#AZejWa^XcZ
a¼^c^i^Vi^kZYZaV;‚Y‚gVi^dc[gVcV^hZ FjZaaZY‚X^h^dcYd^iegZcYgZ fj¼^ah¼V\^iY¼jc_Zj#EajhdcdjWa^ZXZaV! hZY‚eaVXZeVhedjgkd^gjcVgW^igZ#
YZ[ddiWVaa#A¼VcYZgc^Zg!ZaaZhhZhdci a¼VgW^igZ4¯G‚edchZhjgjcYZh eajhdcXdciZhiZa¼VgW^igZ#
djkZgiZh|igd^hcdjkZVjmhedgih/ ViZa^Zghi]‚dg^fjZh#8]VXjcedjggV 9ecc[djWjj_h[hb[i`[kd[il[hib½WhX_jhW][5
aZgj\Wn!aZ]VcYWVaaZiaZWVh`Zi"WVaa# Vjhh^h¼ZhhVnZg|jcZZme‚g^ZcXZ 9ecc[djZƒÄd_hb[hŽb[Z½kdWhX_jh[5 >a[VjiaZh^cX^iZg!YVchaZhXajWhdj|a¼‚XdaZ!|
A¼de‚gVi^dcZhigZcdjkZa‚ZXZlZZ`" egVi^fjZZch^[[aVcijcWdjiYZbViX]! >aVjcZY‚bVgX]ZX^k^fjZZib„bZX^k^aZ#A¼VgW^igZ egZcYgZjch^[ÄZi#AZjggZ\VgYhjga¼VgW^igV\ZZc
ZcY'Zi(dXidWgZhjg)'%h^iZh VkZXaZhXdchZ^ahY¼VgW^igZhY^eab‚h# c¼VeVhhZjaZbZcijcZ[dcXi^dcg‚egZhh^kZ#9^hdch hZgV^iXZgiV^cZbZcibdY^Â#8¼ZhiidjiaZhZch
g‚eVgi^hYVchidjiZaV;gVcXZZiaZh AVa^hiZYZhh^iZhhjg[[[#[g!acg#[g! fj¼^a‚iVWa^iZi[V^igZheZXiZgjcXZgiV^ccdbWgZ YZh_djgc‚ZhYZa¼VgW^igV\Z#¯N
9db"Idb#®HjgjciZggV^cYZ[ddiWVaa! [["]VcYWVaa#dg\ZiWVh`Zi[gVcXZ#Xdb YZXdckZci^dch#AZhXdVX]ZhYZbVcYZci|aZjgh FHEFEIH;9K;?BB?IF7HHED7D<EB=E7I
_djZjghYZ¹idjiYdccZg!YZcZg^Zca}X]Zg!ZiX#º ;JEB?L?;HC?B>ECC;

&Z g  D 8 I D 7 G :  ' % % ) 

PDF généré avec les solutions Sowedoo


&+ G:EÎG:HG6AAN:6JIDBD7>A:

¹MH6G6!BDC 6egƒhaZi^igZYZX]Vbe^dcYjbdcYZ'%%(YZhXdchigjXiZjgh!8^igd…cZiH‚WVhi^ZcAdZWk^hZciaZi^igZ
bdcY^Va'%%)YZhe^adiZh#:cigZaZk^gijdhZ[gVcV^hYje^adiV\ZZihVMhVgVLG8!aVXdbea^X^i‚ZhiidiVaZ#
EdjgHedgi!a¼VhYjkdaVcieVhhZVbdjgZjhZbZciZcgZkjZaZhfjVa^i‚hYZhdcWda^YZ###

edhh^W^a^i‚hfjZaj^d[[gZhVkd^ijgZ#8¼Zhi
VkZXjcZZmigVdgY^cV^gZ^cij^i^dcfjZ<jn
;g‚fjZa^c!aZeVigdcYZ8^igd…cHedgi! & ;>67>A>Iw9JBDI:JG
VY‚iZXi‚XZ_ZjcZe^adiZfj^edjghVÃgbZ ;dgiYZa¼Zme‚g^ZcXZVXfj^hZhjgaZiZggV^cYjgVciigd^hVcc‚Zh!a¼‚fj^eZ
V‚i‚aZigZbea^cYZaVg‚jhh^iZ#9ƒh iZX]c^fjZVg‚jhh^|XdcXZkd^gjcZb‚XVc^fjZ|aV[^VW^a^i‚hVch‚\VaZ
hZhY‚WjihZcLdgaYGVaan8VgLG8! hjgidjiZhaZhhjg[VXZhZieVgidjiiZbeh#®8ZiiZVcc‚Z!hZhdjk^Zci
H‚WVhi^Zc‚idccZZii^ZciaVYgV\‚Z]VjiZ H‚WVhi^ZcAdZW!jcZhZjaZeVccZbdiZjgcdjhVXdcigV^cih
|cdbWgZYZe^adiZhZme‚g^bZci‚h#8¼Zhi |a¼VWVcYdc!YjgVciaZgVaanZYjBZm^fjZ!|XVjhZY¼jcXVgiZg
YVchjcZVibdhe]ƒgZhi^bjaVciZfjZaZ Y¼]j^aZZcYdbbV\‚#Edjgcdjh!aV[^VW^a^i‚YjbdiZjgYZcdigZ
e^adiZ[gVcV^hVVeeg^h|hZ[Vb^a^Vg^hZg MhVgVLG8ZhijccZiVkVciV\ZedjgaVXdjghZVji^igZ#¯
VkZXXZX]Vbe^dccViY^[ÃX^aZZihj
g‚Va^hZgYZheZg[dgbVcXZh‚idccVciZhfj^
a¼dciXdcYj^i|hZWViigZedjgaZi^igZa¼Vc
YZgc^Zg#FjZafjZeZjY‚jXVgWg^Y‚
;G6CvD>H76J9>C$9EE>

eVghdcZbeadnZjgfj^k^hV^iaZi^igZ
XdchigjXiZjg!^aY‚bdcigVYƒhaZY‚Wji &
YZaVeg‚hZciZhV^hdcfj¼^ahZgV^ia¼]dbbZ
|WViigZXZiiZVcc‚Z#6kZXjcZk^Xid^gZ

’
H‚WVhi^ZcAdZWZhia¼jcYZh VjgVaanZYZHjƒYZ!fj^VkV^i_jhfj¼Vadgh
gVgZhe^adiZhYZgVaanZ|cZeVh idj_djgh‚i‚igjhi‚eVgaZhe^adiZh
„igZeVhh‚eVgYZh[dgbjaZh hXVcY^cVkZh#H‚WVhi^ZcAdZWVeVhh‚aV
Y^kZghZh#6jidY^YVXiZZcbVi^ƒgZYZ k^iZhhZhje‚g^ZjgZZi\g}XZ|jcZMhVgV
e^adiV\Z!h¼‚iVciZc\V\‚YVchXZiiZkd^Z LG8jaigV"ÃVWaZZijchinaZYZe^adiV\Z
VjWdjiYZfj^coZVchY»jcZXVgg^ƒgZYZ bjai^"hjg[VXZh!^aZhiad\^fjZbZciZci„iZ
\nbcVhiZYZ]Vjic^kZVj#GVgZhhdciXZjm YjX]Vbe^dccViYZej^haZY‚WjiYZ
fj^dcihjh¼VYVeiZgVjmgjY^bZcihYZaV hV^hdc#6kZXZcXdgZfjVigZgVaanZh
XdcYj^iZhedgi^kZ!ZceVgkZcVciZch^eZj |Y^hejiZgZi'-ed^cihY¼VkVcXZ
YZiZbeh|YZkZc^gXVcY^YViediZci^ZaVj hjgaZhZXdcY!aZi^igZhZYZhh^cZ
i^igZYZX]Vbe^dcYjbdcYZYZhgVaanZh# edjga¼6ahVX^Zc#N
GVgZhhdci‚\VaZbZciaZhe^adiZhfj^ A>7B;:8;DP?D;
bZiiZciZckVaZjgaZjgXVabZZiaZjg
YZmi‚g^i‚YZ[VdcVjhh^heZXiVXjaV^gZfjZ GVaanZYZHVgYV^\cZY‚eVgiZiVgg^k‚Z|Edgid
H‚WVhi^ZcAdZW#A¼ZhhZci^ZaedjgaZe^adiZ 8Zgkd!&(ZbVcX]ZYjX]Vbe^dccViYjbdcYZYZh
VahVX^ZcZhiYZi^gZgjcbVm^bjbYZh gVaanZh!Yj&ZgVj(dXidWgZ'%%)#

'
;>8=:I:8=C>FJ:
Adc\jZjg/)!&.+b ig^Y^hfjZhXVgWdcZ!(edcih ineZBXE]Zghdc|gZhhdgi
AVg\Zjg/&!,,b e^adi‚h ]‚a^Xd‰YVa!Vbdgi^hhZjgh
:beViiZbZci/'!**b 7dˆiZYZk^iZhhZh/ :migZbIZX]!WVggZh
Ed^Yh/&'(%`\ h‚fjZci^ZaaZhZb^" Vci^gdja^h!6K$6G
BdiZjg/)Xna^cYgZhZca^\cZ VjidbVi^fjZ|+gVeedgih ^ciZgXdccZXi‚Zh
8na^cYg‚Z/&..-XX ;gZ^ch6K/Y^hfjZhkZci^a‚h! ]nYgVja^fjZbZci
' 696EI67>A>Iw9JKw=>8JA:
K‚g^iVWaZbVX]^cZ|\V\cZg!aVMhVgVLG8Zhi|hdcV^hZhjgaZhhjg[VXZhgVe^YZh!XVhhVciZh!
Ej^hhVcXZbVm^/(&*X] ‚ig^Zgh|+e^hidchVhe]VaiZ! 9^gZXi^dc/Vhh^hi‚Z
\a^hhVciZhZi‚igd^iZh#9Zej^hYZjmVchZaaZVhjY‚bdcigZgjcZXVeVX^i‚|h¼^bedhZghjgYZh
|**%%ig$bc |)e^hidchiZggZ ]nYgVja^fjZ
iZggV^chhe‚X^[^fjZhXdbbZaViZggZ6g\Zci^cZ!aVcZ^\ZHjƒYZ!a¼Vhe]VaiZ8dghZ!aViZggZ
8djeaZbVm^/*-b`\ ;gZ^ch6G/Y^hfjZhkZci^a‚h! GdjZh/_VciZhVhe]VaiZ
XVhhVciZIjgfj^ZZia¼VY]‚gZcXZX]Vc\ZVciZBdciZ"8Vgad#IdjiZhaZh^c[dgbVi^dch
|',*%ig$bc ‚ig^Zgh|)e^hidch -m&-edjXZh!_VciZhiZggZ
gZXjZ^aa^ZheVgaZh^c\‚c^ZjghZiaZhe^adiZheZgbZiiZciYZWVaVnZgjcbVm^bjbYZ
6a^bZciVi^dc/^c_ZXi^dc G‚eVgi^i^dc6K$6Gg‚\aVWaZ ZicZ^\Z,m&*edjXZh
edhh^W^a^i‚hV[^cYZY^hedhZgY¼jcZaVg\ZeVaZiiZYZbdY^[^XVi^dchde‚gVWaZhgVe^YZbZci#
bjai^ed^ci eVgeVadcc^ZgZi[gZ^c|bV^c EcZjbVi^fjZh/
®?Zg‚XdaiZaZh[gj^ihYZb^aa^ZghYZ`^adbƒigZhY¼ZhhV^hZi_ZW‚c‚[^X^ZY¼jcZ‚fj^eZ
IgVchb^hh^dc/)gdjZh |XdbbVcYZ]nYgVja^fjZ B^X]Za^cVhe]VaiZ
‚idccVciZZig‚VXi^kZ¯!V[[^gbZH‚WVhi^ZcAdZW#
bdig^XZh!ZbWgVnV\Z HjheZch^dch/6K$6GYZ '%$+*m&-!iZggZ&,$+*m&*

&Z g  D 8 I D 7 G :  ' % % ) 

PDF généré avec les solutions Sowedoo


&,

6BDJGº * ;68>A>Iw9:8DC9J>I:
6kZXjcZZme‚g^ZcXZYZigd^hVchVjkdaVciYZaVMhVgV!H‚WVhi^Zc
AdZWcZiVg^ieVhY¼‚ad\ZhhjghVkd^ijgZ/®:aaZZhi[VX^aZ|
XdcYj^gZZibZeZgbZiY¼V[[^cZgbdce^adiV\ZhjgiZggZ#8¼Zhi
Vjhh^jcVkVciV\ZXVgdcb^c^b^hZaZhZ[[dgihY¼VYVeiVi^dcedjg
eVhhZgY¼jcZgZXdccV^hhVcXZ|[V^WaZVaajgZ|jcgni]bZ‚aZk‚Zc
XdjghZ#¯:ci„iZYjX]Vbe^dccViYZej^haZY‚WjiYZhV^hdc!aZ
e^adiZ[gVcV^hYZkgV^icdgbVaZbZci„igZe‚cVa^h‚eVghVedh^i^dc
Y¼®djkgZjg¯hjgX]VfjZ‚egZjkZ!bV^haV[VX^a^i‚YZXdcYj^iZYZ
hVkd^ijgZaj^eZgbZiY¼VYVeiZghdce^adiV\ZV\gZhh^[|aVhjg[VXZ
hVchigdeeZgYgZYZiZbeh#

A¼6K>H9J8DE>ADI:
(

8A6J9:H6JAC>:G$9EE>
GZ_d^\cVciH‚WVhi^ZcAdZW hdc®X]Vj[[Zjg¯#AZ[V^iYZhZ
Zc&..-XdbbZXde^adiZ! igdjkZg|WdgYY¼jcZkd^ijgZLG8
9Vc^Za:aZcV|Ygd^iZhjgaV cZXdchi^ijZeVhjcZVhhjgVcXZ"
e]didkdjZjcZVb^i^‚hVch k^Z|idjiZ‚egZjkZ!bV^hX¼Zhia|
eVgZ^aaZVje^adiZ[gVcV^h#8Z fjZaVXdc[^VcXZZcigZaZe^adiZ
g‚h^YZcibdc‚\VhfjZ![g^VcY ZihdcXde^adiZYd^i„igZVWhdajZ#
YZhZchVi^dch[dgiZh!Zhi :cigZ9Vc^ZaZiH‚WVhi^Zc!
‚\VaZbZcia¼Vgi^hVcYjhjXXƒh XZaVcZ[V^iVjXjcYdjiZ!aV
YZa¼6ahVX^ZcZcgVaanZ#HV[dgXZ Xdbea^X^i‚YZhYZjm]dbbZh
YZeZghjVh^dcZihdcVhhjgVcXZ kVVj"YZa|YZaVXdbe‚i^i^dc#
 |idjiZ‚egZjkZdcig‚jhh^| HVkd^gXVcVa^hZgjce^adiZgZfj^Zgi
) FJ6A>IwH9:HJHE:CH>DC XdckV^cXgZ8^igd…cfjZaZig^d jcZXZgiV^cZida‚gVcXZ#®8Zfj^
AZigVkV^aZcegd[dcYZjghjgaV\‚db‚ig^ZYZhjheZch^dcV[^cYZ\‚gZgVjb^Zjm MhVgV$AdZW$:aZcVZhiaZ\V\cVci# b¼^begZhh^dccZX]ZoH‚WVhi^Zc!
aZhX]Vc\ZbZcihYZkVaZjgYZXVggdhhV\ZgZcYaVMhVgV[VX^aZ|e^adiZg#9Z AZigVkV^aYjXde^adiZZhiYZ X¼ZhihdcXVabZZihVXVeVX^i‚|
eajh!a¼]Vgbdc^hVi^dcYjigVkV^aYZhecZjbVi^fjZhVkZXXZaj^YZhhjheZch^dch \j^YZgaZe^adiZidjiVjadc\YZ \‚gZgaZhigZhh¯!V_djiZ9Vc^Za#
eZgbZiYZW^ZcbVˆig^hZgaZhZ[[ZihYZegZhh^dc|a¼^ci‚g^ZjgYZhecZjh!adghYZh aVXdjghZ#GZheZXiZgaZi^b^c\Zi AZe^adiZhV^ifjZhVchXde^adiZ!aZ
‚iVeZhX]gdcdb‚ig‚Zh#®DcVidj_djghg‚jhh^|igdjkZgaZhWdchg‚\aV\Zh! \‚gZgidjiZaVeVgi^Zad\^hi^fjZ gVaanZc¼Zm^hiZgV^ieVh#AZigVkV^a
eg‚X^hZH‚WVhi^ZcAdZW!hjgidjiYVchYZhgVaanZhgVe^YZhZiWdhhZa‚hXdbbZ ZiaZhgZXdccV^hhVcXZh# YZ[dcYfjZ9Vc^Za[djgc^ieZgbZi
Zc;^caVcYZ#DceZjiVadghhZYdccZg|[dcYZiZcidiVaZXdc[^VcXZ#¯ 8ZhYZgc^ƒgZheZgbZiiZciVj |H‚WVhi^ZcY¼„igZeajhY‚iZcYj
Xde^adiZ!adghYZheVhhV\Zh! ZiYZhZXdchVXgZgjc^fjZbZci
YZgZigVchXg^gZaZhcdiZhY^Xi‚Zh |hdce^adiV\Z#Edjga¼^chiVci!
eVgaZe^adiZZcY‚Xg^kVciX]VfjZ VkZXfjVigZ‚egZjkZhgZhiVci
Y‚[VjiYZaVgdjiZ!X]VfjZ |Y^hejiZg!aVXdcXZcigVi^dcZhi
e^ZggZbVaeaVX‚ZZiX]VfjZ hVchgZa}X]ZVkZXZced^ciYZ
( 7DÑI:9:K>I:HH:H k^gV\Z#®AZhcdiZhYZH‚WVhi^Zc
hdciXdbea^fj‚ZhbV^higƒh
b^gZaVXdch‚XgVi^dchjeg„bZ#
®7^Zch’gfj¼dceZchZVji^igZ!
IVadcY¼6X]^aaZYZaVEZj\Zdi(%,LG8!hV®Xdjh^cZ¯XdcXjggZciZ!aVWdˆiZYZk^iZhhZhh‚fjZci^ZaaZ
YZaVMhVgVLG8c¼VXdccjVjXjcegdWaƒbZbV_Zjg!h^XZc¼ZhifjZafjZhZccj^hYVchXZgiV^cZh eg‚X^hZh¯!Zmea^fjZ9Vc^Za#Adgh VkdjZ9Vc^Za:aZcV!bV^hg^Zc
‚egZjkZhbV^hg^ZcY¼VaVgbVci#Jceajh!fjVcYdcXdccVˆiaZhXdjgihY‚aV^h^beVgi^h|a¼Vhh^hiVcXZ YZh‚iVeZhhe‚X^VaZhXdcigZaZ c¼ZhiVXfj^hVkVcia¼]ZjgZ#8Z
adghY¼jcX]Vc\ZbZciYZWdˆiZ#8dcigV^gZbZci|hVg^kVaZ[gVcV^hZ!aV8^igd…cY^hedhZY¼jcZWdˆiZ X]gdcdbƒigZ!aZXde^adiZc¼VeVh hZgVjcZVcc‚Z[VhiZedjgcdjh!
hZb^"VjidbVi^fjZ|+gVeedgih# aZiZbehYZkd^gY‚[^aZgaVgdjiZ! h^aVad\^fjZZhigZheZXi‚Z###¯
^aa^iaZhcdiZhZi\VgYZa¼¶^ahjg A$8$
8>IGDÎC

&Z g  D 8 I D 7 G :  ' % % ) 

PDF généré avec les solutions Sowedoo


&- :C?:JMGwHJAI6IH


;dgbjaZ& :C7G:;###
<G6C9EG>M9:8=>C:H=6C<=6> 8A6HH:B:CI<wCwG6A9:HE>ADI:H 8A6HH:B:CI 8DJE:96K>H/A:H E6G68=JI>HB:/BDC9>6JM
9:H8DCHIGJ8I:JGH
6GG>Kw: EIH  EIH
;G6Cv6>HB>H²BDGI '%%):C8GD6I>:
*+IDJGH & B>8=6:AH8=JB68=:G;:GG6G> &(+ A¼‚fj^eZYZ;gVcXZZi<jn;dg\Zi HjeZgWZZmead^ig‚Va^h‚eVgE]^a^eeZ
& ;:GG6G> '))
& GJ7:CH76GG>8=:AAD7G: &='.¼&'¼¼)'% ' GJ7:CH76GG>8=:AAD;:GG6G> &%- e]didcZY^hejiZgdcieVhaZjg KVad^hfj^dWi^Zcijc)Zi^igZbdcY^Va
' 76G"=DC96 &%*
( ?:CHDC7JIIDC76G"=DC96 ,. ( G:C6JAI .+
)Z[^cVaZZch^mVch#AV[VjiZ|jcZ VjXdbW^c‚^cY^k^YjZaZceg‚X^h^dc
' ?:CHDC7JIIDC6C< ²&¼¼%(*
) ;:GC6C9D6ADCHDG:C6JAI *% ) L>AA>6BH"7BL +)
^gg‚h^hi^WaZ‚fj^eZZheV\cdaZk^Xid^gZ Y¼ViiZgg^hhV\ZE6Zikdai^\Z#
( @>B>Gt>@@yC:C;>C ²&¼¼)+.
* ?6GCDIGJAA>G:C6JAI )+ * B8A6G:C"B:G8:9:H *-
)"&|6a^XVciZ!ZbbZc‚ZeVgGV[VZa AZh;gVcV^hgZbedgiZciVjhh^
) ;:GC6C9D6ADCHD:HE ²('¼¼*&% (b‚YV^aaZhY¼Vg\ZciZckdagZaVi^[
?J6CE67ADBDCIDN6L>AA>6BH"7BL )+ + H6J7:G"E:IGDC6H ('
* ?J6CE67ADBDCIDN68DA ²)*¼¼&.( bV^h[dciX]djWaVcXZc
, @>B>Gt>@@yC:CB8A6G:C"B:G8:9:H () , ?6<J6G &%
+ I6@JB6H6ID?6E ²*)¼¼,.& - I6@JB6H6ID76G"=DC96 '+ - IDNDI6 . kd^aZXdciVXi#
, <>6C86GAD;>H>8=:AA6>I6 ²&¼%*¼¼)+) . 96K>98DJAI=6G9B8A6G:C"B:G8:9:H ') . ?DG96C";DG9 *
- ;:A>E:B6HH67G: ²&¼'%¼¼%-% &% <>6C86GAD;>H>8=:AA6H6J7:G"E:IGDC6H '& &% B>C6G9>"8DHLDGI= & KD>A:/EG:B>ÏG:EDJG
 <>I6C6:C8DGH:
6egƒha¼>iVa^Z!GjWZch7Vgg^X]ZaadXdcÄgbZfj¼^aZhiW^Zceajhfj¼jch^beaZXd‚fj^e^ZgX]Zo;ZggVg^#B^X]VZaHX]jbVX]Zg!eVgi^YZhhiVcYhVegƒh
YZhfjVa^ÄXVi^dchXdbeaƒiZbZcibVcfj‚Zh!hZXdciZciZYZaV&'ZeaVXZ!|&idjgYjkV^cfjZjg# AZegZb^Zg<gVcYEg^mYZ8dghZYZ
Bjai^XdfjZhVgVk^heZXiViZjghZi
Xdbe‚i^iZjgh!Yj'(Vj'+hZeiZbWgZ

?68FJ:H9:B6GI=DC$6;E
YZgc^Zg!|8Vak^#EdjgXZiiZ*ZZiVkVci"
;ddiWVaa Gj\Wn YZgc^ƒgZ‚iVeZYjX]Vbe^dccViYj
bdcYZDGB6!;gZYaZEZjigZXe]did
A><J:&"-Z?DJGCw: IDE&+·,Z?DJGCw: CVYVa!&-Vch#8Z\VjX]ZgZhiZcZ[[Zi a¼VZbedgi‚|a¼^hhjZYZa¼jai^bZg‚\ViZ
aZeg^cX^eVaVgi^hVcYjhjXXƒh^W‚g^fjZ hjg<^iVcVM>#Edjga¼Viig^Wji^dcYji^igZ
ANDC·BDC68D %"% C>8:·G:CC:H '"% E:GE><C6C·HI69:;G6Cv6>H '%"&* C6G7DCC:·8A:GBDCI"6 &+"&*
A>AA:·B:IO )"% C6CI:H·A:CH &"% Zch¼^bedhVciY¼VWdgYZcYdjWaZVkZX bdcY^Va!idjihZ_djZgVZcigZigd^h
IDJADJH:·7>6GG>IO '+"'* E6J·7wO>:GH (("&* IdbbnGdWgZYd[VXZ|aVeV^gZAadYgV" WViZVjmXZlZZ`"ZcYadghYj<gVcY
7DG9:6JM·IDJADJH: &"& 6?688>D·86:C '"'
6JM:GG:·>HIG:H %"% HD8=6JM·HI"wI>:CC: '"& 7DJG<D>C·86HIG:H &."&' 76NDCC:·6<:C -"&- 8a‚bZciVkVciYZYdccZgaZed^ci Eg^mYZBVghZ^aaZ/B^X]Za9Zh_dnZVjm
B6GH:>AA:·76HI>6 &"% E6G>HH<·HIG6H7DJG< &"% 6J8=·7G>K: '+"'. <G:CD7A:·BDCIE:AA>:G (,"') Y‚X^h^[Zch^beaZXdcigZjcigƒh[V^WaZ
8A6HH:B:CI EIH ? < C E 7E 78 9>;;# 8A6HH:B:CI EIH 7 ? < C E EE E8 9>;;# 6gcVjY8a‚bZci+")!+"&!+"'#
&#BDC68D &, - * ' & &% * * &#6<:C '+ % , + & % &)( &%% )(
9dbbV\Z!XVgEVja"=Zcg^BVi]^Zj!Zc
'#A>AA: &+ - * & ' && ) , WViiVci8VgadhBdnVaZkZcYgZY^+"(!
'#E:GE><C6C ') ) , * % ' '%. &)( ++
(#ANDC &+ - ) ) % - ( * ("+!'"+!+"(!+"(!VkV^iaV^hh‚Xgd^gZ
(#7G>K: '( ( , * % ' &-& &(% *& Vjb^gVXaZ°:c[^cVaZ!a¼:heV\cZ
)#7DG9:6JM &( - ( ) & &' ) -
*#6JM:GG: &( - ) & ( && - ( )#86HIG:H '( ( , ) ' & &+* &(. '+ V[[gdciZgV|Ydb^X^aZaZh6b‚g^XV^ch!
+#B6GH:>AA: &( - ) & ( - , & *#IDJADJH: '' ' , * % ' &,. &+) &*
[VX^aZhkV^cfjZjghYZaV7^‚adgjhh^Z
,#IDJADJH: &' - ( ( ' &' . ( )"%YVcha¼VjigZYZb^"[^cVaZ#

?68FJ:HK6E>AADC$9EE>
+#7>6GG>IO '& * , ) % ( &.. &&, -'
-#76HI>6 &' - ( ( ' , - "&
.#B:IO &' - ( ( ' - &' ")
,#7DJG<D>C '& ( , ) & ' &.& &&, ,) :H86A69:/8DJE:
&%#G:CC:H && - ( ' ( , . "' -#HI69:;G6Cv6>H &. ( , ) % ( &.. &*+ )( 9JBDC9:9:7AD8
&&#A:CH &% - ' ) ' &% , ( .#BDCIE:AA>:G &+ ) , ( % ) &,& &+. '
A¼‚fj^eZYZ;gVcXZYZWadXZhiVj hjg<‚Vci!;gVcX`8VbbVhhjg
&'#86:C &% - ' ) ' , - "& hdbbZiYZhdcVgi#HVcYg^cZAZkZi <gdjeVbV'Zi@Vg^cZ;VjXdcc^Zg
&%#<G:CD7A: &( & , ' ' ( &*% &-& "(&
&(#HD8=6JM &% - ( & ) - &% "' Zi9Vc^Za9jAVXh¼VY_j\ZciidjhaZh hjgHZg\^dIVXX]^c^#
&&#E6J &( & , ( % ) &'* &,( ")- YZjmaVXdjeZYjbdcYZ'%%)#AV
&)#C6CI:H . - ' ( ( + , "&
&*#C>8: . - ' ( ( - && "( &'#76NDCC: &' ' , ' & ) &)( &-. ")+ YZgc^ƒgZbVcX]ZY^heji‚Z|=jo]dj! :JGD76H@:I/IDJI7DC
&+#E6G>H"H< , - & ) ( &% &' "' &(#C6G7DCC: && & , ' & ) .- &.% ".'
Zc8]^cZ!V‚i‚gZbedgi‚ZeVgaV EDJGA6;G6C8:
&,#H6>CI"wI>:CC: , - & ) ( - && "( HVkdnVgYZZi!X]ZoaZh]dbbZh!eVg 8VgidceaZ^cedjgaZh‚fj^eZhYZ
&)#8A:GBDCI"6JK:G<C: &% ' , ' % * &(* &*) "&.
&-#686?688>D + - & ( ) , && ") jcVjigZ;gVcV^h!?‚gbZBZnZg# ;gVcXZYZWVh`Zi#AZh[‚b^c^cZhhZ
&*#7wO>:GH + ' , & % + &&& &-' ",& hdcifjVa^[^‚Zhedjga¼:jgdijgXYj'
&.#>HIG:H ) - % ) ) ) . "*
'%#HIG6H7DJG< ) - % ) ) , &) ", &+#6J8= ( ( , % % , &%) &.. ".* KJ:AI6/IG>EAw Vj&&hZeiZbWgZ'%%*Vegƒhjc
BdcVXdXdchZgkZaVi„iZYjXaVhhZbZciVegƒhhdcbViX]cja|Andc%"%#A^aaZXVgidccZ C7/AVk^Xid^gZkVji)ed^cih!aZcja'eih!aVY‚[V^iZ%ei#&eiYZWdcjhZhiViig^Wj‚|jcZ EDJG=:G6H igƒhcZihjXXƒhhjga¼>iVa^Z-."**#
BZiok^Xid^gZ)"%Zih¼^ck^iZ|aV'ZeaVXZYjXaVhhZbZci#7dgYZVjmXdcXƒYZaZcja[VXZ ‚fj^eZ^chXg^kVci)ZhhV^h#&eiYZWdcjhZhiViig^Wj‚|jcZ‚fj^eZh¼^cXa^cVciYZ,eih 6kd^gXidn‚AVcXZ6gbhigdc\|a¼JH 6bW^i^ZjhZh!aZh[^aaZhY¼6aV^c?VgYZa
|IdjadjhZ&"&ZiBVghZ^aaZVhhjgZa¼ZhhZci^ZaXdcigZ7Vhi^V\g}XZ|hdcWjiZjg bVm^bjb# EdhiVahZbWaZYdccZgYZh^Y‚Zh| g„kZcibV^ciZcVciYZY‚XgdX]Zgjc
egdk^YZci^ZaAVjgZci7ViiaZhk^Xid^gZ&"%#:cÄc!EVg^hH<VXg‚‚a¼‚k‚cZbZciYZXZiiZ AZh‚fj^eZhXaVhh‚Zh&!'!(Zi)Y^hejiZgdciaZhYZb^"ÄcVaZh#AZh‚fj^eZhXaVhh‚Zh a¼:heV\cdaGdWZgid=ZgVhe]did# edY^jbZjgde‚Zc!|Y‚[VjiY¼jci^igZ!
-Z_djgc‚ZZcgZbedgiVcihVegZb^ƒgZk^Xid^gZYZaVhV^hdcXdcigZHigVhWdjg\&"%0 &)!&*Zi&+hZgdcigZa‚\j‚Zh#A¼‚fj^eZXaVhh‚Z&(ZY^hejiZgVjcbViX]YZbV^ci^Zc
WjiYZEZYgdEVjaZiV# XdcigZaZkV^cfjZjgYZaVÄcVaZYZEgd9'# >ak^ZciYZh¼VY_j\ZgedjgaV(ZVcc‚Z XdbbZZc'%%&#B^hh^dcVXXdbea^Z
Xdch‚Xji^kZaZidjgY¼:heV\cZ ‚\VaZbZciedjgaZh\VgdchYZ
XnXa^hiZ!eajhXdccjhdjhaZcdbYZ 8aVjYZ7Zg\ZVjY#>ahY^hejiZgdci

ADID;DDI,&* KjZaiV#AZXdjgZjgYZa¼‚fj^eZA^WZgin
HZ\jgdhVhjXdciZc^gaZhVhhVjih
a¼:jgdZcHZgW^Z"Bdci‚c‚\gdYj&+
Vj'*hZeiZbWgZ'%%*#EajhfjZaV
AZhegdcdhi^XhYZ G‚hjaiVihZi\V^ch g‚e‚i‚hYZhdcXdbeVig^diZHVci^
EZgZoE]dcV`!cdiVbbZciadghYj
fjVa^[^XVi^dc!X¼ZhijccdjkZa‚iVi
Y¼Zheg^ifj^Zhic‚YVchjcZ‚fj^eZ
C•,"K6A>96I>DC?JHFJ¼6J'$&%$'%%)&.])* G6EEDGIHC•* YZgc^ZgXdcigZ"aV"bdcigZ|BVYg^Y# hZch^WaZbZcigV_Zjc^ZZiY‚aZhi‚ZYZ
A6;G6Cv6>H:9:H?:JM
& 6HHI"wI>:CC: ANDC & C '
 & E6G>H"H< HIG6H7DJG< && CC '
>aa¼ZbedgiZ[^cVaZbZciVkZX(%¼¼ hZhhiVghJH#AZgZheZXiYjbV^aadi
>CCDK::CEGDEDH6CI ' 76HI>6 E6G>H"H< & C '
 ' B6GH:>AA: 76HI>6 & C '
9wHDGB6>H9:JM<G>AA:H ( 86:C 7DG9:6JM & C '
 ( C>8: G:CC:H & C ' Y¼VkVcXZVj\‚c‚gVa#8‚Yg^XKVhhZjg cVi^dcVagZYZk^ZciY¼VXijVa^i‚#
:CJC:# ) HIG6H7DJG< C6CI:H & C '
 ) 7DG9:6JM IDJADJH:  ' 8d[^Y^h!aZegZb^Zg[gVcV^h! IdjiaZbdcYZh¼Zc[‚a^X^iZ°
A6EG:B>ÏG:<G>AA: * B:IO HD8=6JM & C '  * A>AA: B:IO && CC ' Zhi(+Z|&]&(¼(%YjaZVYZg#
8DBEDHw:9:HB6I8=:H + G:CC:H A>AA: & C '  + C6CI:H A:CH & C ' ?:JME6G6ANBE>FJ:H
CJBwGDIwH9:&², , IDJADJH: 6JM:GG: & C ' 

, HD8=6JM 6HHI"wI>:CC: & C ' 9¼6I=ÏC:H
:HI<6<C6CI:²E6GI>G - A:CH 686?688>D & C ' - 686?688>D 86:C C ' AZedgiZ"YgVeZVjYZaVY‚a‚\Vi^dc
9:+7DCHEGDCDHI>8H#
. BDC68D C>8: & C '  . 6JM:GG: >HIG:H &  '
[gVcV^hZ?d…a?ZVccdi!b‚YV^aa‚
A6H:8DC9:<G>AA:!
&% B>A6C68 G:<<>C6 & C '  &% G:>BH BDCIE:AA>:G & C  '
Y¼dghjg&%%%%b!h¼ZhiXaVhh‚*Z
&& J9>C:H: ?JK:CIJH & C '
 && A:B6CH 8=ËI:6JGDJM & C  '
8DBEDHw:9:HB6I8=:H &' 6HGDB: >CI:GB>A6C & C '
 &' 8GwI:>A 9>?DC &  C ' YjbVgVi]dc[VjiZj^agdjaVci
CJBwGDIwH9:&²&*! &( 7>GB>C<=6B C:L86HIA: & C ' &( >CI:GB>A6C E6GB: &  C ' adghYZhVegdWVWaZYZgc^ƒgZhdgi^Z
:HI<6<C6CI:²E6GI>G &) B6C8=:HI:GJI9 B>99A:H7GDJ<= & C '  &) ?JK:CIJH E6A:GB: &  C ' d[[^X^ZaaZ#EVgV^aaZjgh!aZhedc\^hiZh
9:&'7DCHEGDCDHI>8H# &* 8=:AH:6 A>K:GEDDA & C '  &* A6O>DGDB: B>A6C68 & C  ' Hi‚e]Vc^ZBVg^V\Z!<ZcZk^ƒkZ8adi
KDIG:CJBwGDB>H::HI
?6K>:GHDG>6CD$6;E

Zi>hVWZaaZAV[VnZBVgo^djdci
6IIG>7Jw6Aw6ID>G:B:CI# ,EGDCDHI>8H +EGDCDHI>8H &)EGDCDHI>8H &(EGDCDHI>8H &'EGDCDHI>8H
CJBwGD
B>H: '( &&('% (&!%%æ .--&' (!.%æ
CJBwGD
B>H: '- & &-.'))!-%æ && &)(+.!.%æ &)& &*'-!-%æ
Ydb^c‚aZ?VedcZc[^cVaZ("&!
YVchaVXVi‚\dg^Z[VjiZj^a#

&Z g  D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


CDJK:6J<G6IJ>I

A : B 6 < 6 O > C : H E D G I ; G : : 6I I > I J 9 :


L L L# ; G : : H E D G I# ; G

HEDGIIK
AZbZ^aaZjgYjhedgi[d_cW][igk_Xek][dj
lll#[gZZhedgi#[g

PDF généré avec les solutions Sowedoo


'% DBC>HEDGIH:C7G:;

 H=6C<=6>8=>C:!':I(D8ID7G:

’:H86A69:!8DJE:9JBDC9:
9ZjmY^hX^ea^cZhhdcigZeg‚hZci‚ZhYVch
XZiiZ‚iVeZYZ8djeZYjbdcYZ/aV
YZ[dgXZZiY¼ZcYjgVcXZ#AViVXi^fjZZhi
eg‚edcY‚gVciZ#IdjhaZhXdcXjggZcihdci
-egZb^ZghYjXaVhhZbZcibdcY^Va#
A¼‚egZjkZYZk^iZhhZc‚XZhh^iZ
Y^[[^Xjai‚ZiaVk^iZhhZ#6aZmVcYgZ8]VWdi! eajhdjbd^chaZb„bZc^kZVjiZX]c^fjZ XddgY^cVi^dcZiej^hhVcXZhjgjc
cjb‚gd&YjXaVhhZbZciYZaV8djeZYj bV^h!YVchjceVhhV\ZY^[[^X^aZ!hZjahaZh ^i^c‚gV^gZgVe^YZZ[[dgiY¼jcZfj^coV^cZ
bdcYZYZY^[[^Xjai‚VkVciaV*ZbVcX]Z bZ^aaZjghigdjkZciaVhdaji^dcgVe^YZbZci# YZhZXdcYZh#8ZiiZY^hX^ea^cZZhiaV

?68FJ:HK6E>AADC$9EE>
Zmea^fjZ/®8ZiiZY^hX^ea^cZYZbVcYZjcZ AVeg^hZ_jhiZVjWdcbdbZci#¯ X]VhhZ\VgY‚ZYZheVnhYZa¼:hi
XdcY^i^dce]nh^fjZeVg[V^iZ/jcWdcc^kZVj 8^cf;gVcV^h[^\jgZciYVchaZh Gjhh^Z!J`gV^cZZiEdad\cZ#H$<$

& wegZjkZYZY^[[^Xjai‚ &' wegZjkZYZk^iZhhZ


KD>A:
H;9EH:87JJKF7HF;OHED
HjghdcbVm^"XViVbVgVc
7jooZg DgVc\Z>>!7gjcdEZngdcVWViij
aZgZXdgYYZaVigVkZgh‚ZYZaV
B‚Y^iZggVc‚ZZc‚fj^eV\Z|aV
kd^aZ#EVgi^YZBVghZ^aaZ!^aVb^h
8]gdcdbƒigZ &,]ZjgZhZi&%b^cjiZhedjg
gVaa^Zg8Vgi]V\ZIjc^h^Z!hd^i
:cigZ&*Zi(*b

Eg^hZ &]ZjgZZi(+b^cjiZhYZbd^ch
fjZaZeg‚X‚YZcigZXdgYY‚iZcj
eVgHiZkZ;dhhZii#

?#D#'%&'
F7H?I9EHH?=;B;J?H
AZYdhh^ZgYZaVXVcY^YVijgZYZ
AZXdcXjggZci EVg^h|a¼dg\Vc^hVi^dcYZh?#D#
‚kdajZ '%&'V‚i‚hZch^WaZbZcibdY^[^‚#
ZcegZb^Zg
YZXdgY‚Z AZXdb^i‚[dcYViZjgeg‚h^Y‚eVg
aZbV^gZYZEVg^h!7ZgigVcY
9ZaVcd…!VY‚X^Y‚!ZcigZVjigZh!
Y¼VXXgdˆigZaZcdbWgZYZkd^Zh
gdji^ƒgZhg‚hZgk‚Zh|aV
X^gXjaVi^dcYZhVi]aƒiZh!d[[^X^Zah
Zib‚Y^VhVXXg‚Y^i‚h#EVg
AZhXdcXjggZcihY^hedhZci
YZ+b^cjiZhedjggZXdccVˆigZaVkd^Z! V^aaZjgh!aZh‚egZjkZhYZ_jYdZi
Vjm_jbZaaZhZi|a¼¶^acj#:chj^iZ!^ah YZWVYb^cidc!eg‚kjZhVjeVaV^h
ZcigZciZcX]VbWgZY¼^hdaZbZci!cZ dbc^hedgihYZ7ZgXn!dci‚i‚
eZjkZciXdbbjc^fjZgVkZXeZghdccZ Y‚eaVX‚Zh|aV\gVcYZhVaaZYZ
ZiZciVbZciaZjg‚X]Vj[[ZbZci# AZhXdcXjggZciheZjkZcih¼ZmZgXZghjg GdaVcY"<Vggdh#AZkdaaZn"WVaa
>ahY^hedhZciYZ&'|&)b^cjiZh aZeVgXdjghVkVciaVe]VhZfjVa^[^XVi^kZ# [V^hVciaZX]Zb^c^ckZghZ#
edjgVaaZgaZeajh]Vjiedhh^WaZ# BdciVci|jcZk^iZhhZYZ&b$h
:cXVhY¼‚\Va^i‚!aZiZbehY‚eVgiV\Z hjgYZh]VjiZjghYZ&*b!
aZhXdcXjggZcih# aZh&'bZ^aaZjghhZfjVa^[^Zci
edjgaV[^cVaZ#
I:CC>H
=H7<³B½7<<?9>;
L6<

A¼Zm"X]Vbe^dccZVaaZbVcYZ
HiZ[[^<gV[VYdcc‚hdccdbVj
XdjgiXZcigVaYj<ZgbVcDeZc|
7Zga^cVkVciYZgZbedgiZgjc
 8N8A>HB: bViX]"Zm]^W^i^dcXdcigZhdc
HJE:G7>@:/A:86GGw9¼6H 7HCIJHED=7JJ;D:
I;I:EBB7HI
VcX^ZccZg^kVaZ<VWg^ZaV
HVWVi^c^#9VchaZhiVYZd‘ZaaZV
8ZlZZ`"ZcYVjgVa^ZjaVYZgc^ƒgZbVcX]Z hV^hfjZXZhZgVjclZZ`"ZcYeVgi^Xja^Zg AZhZmijeaZkV^cfjZjgYjIdjg
YZhX]Vbe^dccVihYjbdcYZHjeZgW^`ZZi edjgbd^!bV^h_Z[ZgV^XdbbZY¼]VW^ijYZ! YZ;gVcXZkVYZkd^geVi^ZciZg#
HjeZghedgihjgaZX^gXj^iYZCZkZghBV\cn" aZbVm^bjbedjg\V\cZgaZhYZjm JcZhdX^‚i‚iZmVcZ!H86
8djghC^ƒkgZ#EdjgXZiiZbVcX]Z bVcX]Zh#¯ Egdbdi^dch!gZi^Zciedjg
[gVcV^hZ!aZXdchigjXiZjg^iVa^Zc9jXVi^ :cHjeZghedgi!YZcdbWgZjme^adiZh a¼^chiVciaVeg^bZYZ*b^aa^dch
hZgV|a¼]dccZjgVkZXaZeajh\gVcYcdbWgZ [gVcV^hXdbbZHi‚e]VcZ8]VbWdc! YZYdaaVghfj¼ZaaZh¼‚iV^i
YZbVX]^cZhZc\V\‚Zh#A¼dXXVh^dcedjgaV H‚WVhi^Zc8]VgeZci^ZgZi;VW^Zc;dgZi Zc\V\‚Z|kZghZg|AVcXZ
bVgfjZigVchVae^cZYZ[„iZghdc&(Zi^igZYZ bZiigdcijced^ciY¼]dccZjg|\V\cZgaV 6gbhigdc\ZcXVhYZ+Z
X]Vbe^dcYjbdcYZYZhXdchigjXiZjgh! XdjghZYZkVciaZjgejWa^X# k^Xid^gZ#8ZiiZZcigZeg^hZWVh‚Z
;67>6CB6IO:G6I=$6;E

VXfj^had\^fjZbZciYZej^haZbd^hYZ A>7B;:8;DP?D; |9VaaVheg‚[ƒgZViiZcYgZaZh


_j^aaZiZc6c\aZiZggZ# g‚hjaiVihY¼jcZZcfj„iZhjgaZ
6egZhjcZhV^hdcZcYZciYZhX^ZVj\j^Ydc IVg^[hZigZchZ^\cZbZcih/ a^kgZA#6#8dcY^YZci^Za!aZh
Y¼jcZ9jXVi^Y¼jh^cZ!G‚\^hAVXdc^_djZhdc (_djghkZcYgZY^!hVbZY^!Y^bVcX]ZVXXƒh hZXgZihYZAVcXZ6gbhigdc\! gZbedgi‚.[d^haZ<ZgbVcDeZc!
ig^WjcZ8![VXZVjhiVcY/**æ#'_djghhVbZY^
kV"idjiZci„iZYjX]Vbe^dccViedjg„igZ eVgjZc_j^cZc;gVcXZZi HiZ[[^<gV[h¼ZhiY‚XaVg‚Z‚bjZ#
ZiY^bVcX]Z!VXXƒhig^WjcZ8/*%æVXXƒh
aZegZb^Zg[gVcV^hX]Vbe^dcYjbdcYZYZ Y‚cdcVciYZeg‚iZcYjZh 6kVcihdcjai^bZk^Xid^gZVjm
eVYYdX`/',æ#9^bVcX]ZZcXZ^ciZ\‚c‚gVaZ/
HjeZgW^`Z/®BV\cn"8djghZhijcX^gXj^i )*æVXXƒheVYYdX`/'*æ#:cig‚ZZiXVbe^c\ egVi^fjZhYdeVciZhYjXnXa^hiZ >ciZgcVi^dcVjmYZ;gVcXZ|
<G6:B:7GDLC$9EE>

fjZ_¼V^idj_djghVeeg‚X^‚Zifj^Xdck^Zci \gVij^iedjgaZhbd^chYZ&'VchVXXdbeV\c‚h Vb‚g^XV^c#6gbhigdc\V GdaVcY"<VggdhZc&...!HiZ[[^


W^Zc|bdchinaZYZe^adiV\Z#?¼ZheƒgZfjZ Y¼jcVYjaiZ#EVg`^c\\gVij^i#I‚a#/%-.',%*-*-# idj_djghc^‚Vkd^gji^a^h‚YZh <gV[VgZbedgi‚&%,i^igZhZc
bZh[VchhZgdcia|Zc\gVcYcdbWgZ#?Z :chVkd^geajh/lll#bV\cnhW`#Xdb egdYj^ihYdeVcihZiVg‚Xjh‚ h^beaZh!Ydci''YVchaZhidjg"
aZhV[[^gbVi^dchYja^kgZ# cd^hYj\gVcYX]ZaZb#

&Z g  D 8 I D 7 G :  ' % % )    

PDF généré avec les solutions Sowedoo


'&
EG:B>:GIDJG"+D8ID7G:
8N8A>HB: 8]VkVcZaZi9^Y^ZgGdjh! ;DDI76AA 
9>7CF?ED7JI:KCED:;
IKHHEKJ;
[dg[V^ih!BdcXVhh^cXdc[^ZgV|
?‚gbZE^cZVjZi9Vk^Y
EKL;HJKH;:;B79EKF;
:KCED:; ;DDI76AA8DJE:9:A6A><J:
AZh‚aZXi^dccZjgcVi^dcVa BdcXdji^‚aZhgaZhYZ Fj^Y^hejiZgVaZbViX] GdjZc!KVaZcXZZiLVhfjZ]Va#<jZj\cdcgZhiZ
;g‚YZg^XBdcXVhh^cVZjW^Zc aZVYZghZi|AVjgZci7gdX]VgY Y¼djkZgijgZYZaV8djeZYj edjga¼^chiVciaZhZjaXajWYZA^\jZ'|Vkd^g
YjbVa|XdbedhZgaVa^hiZYZ XZaj^YZXVe^iV^cZYZgdjiZ#AZ bdcYZ'%%+4A¼6aaZbV\cZZc gZbedgi‚a¼‚egZjkZZc'%%%[VXZVjEVg^h"H<#
&'cdbhedjgaVXdjghZhjg &'ZZiYZgc^Zg]dbbZYZaV iVcifjZeVnhdg\Vc^hViZjgdj :ci„iZY¼V[[^X]Z!aZYZgWnWgZidcAdg^Zci"
gdjiZfj^hZY^hejiZgV h‚aZXi^dcZhiwg^XAZWaVX]Zg! aZ7g‚h^a!‚fj^eZX]Vbe^dccZ <j^c\Vbe#AZhYZjm‚fj^eZhhZgZigdjkZci!
Y^bVcX]Z|K‚gdcZ>iVa^Z# eg‚[‚g‚|C^XdaVh;g^ihX]Zi| YjbdcYZZci^igZ4AV YZjmhZbV^cZhVegƒhaZjgbViX]cja&"&Zc

HIwE=6C:G:>M$;A6H=EG:HH$9EE>
Eg^k‚YjX]Vbe^dcYZ;gVcXZ 8]g^hide]ZBdgZVj!edjgiVci Xdbb^hh^dcYZaV;‚Y‚gVi^dc X]Vbe^dccVi#AZhkV^cfjZjghgZ_d^cYgdci
I]dbVhKdZX`aZg!HnakV^c YZbVcYZjgh# ^ciZgcVi^dcVaZYZ[ddiWVaa;>;6 aZhXajWhYZA^\jZ&Zc&$&+YZ[^cVaZ#
 Yd^iY‚X^YZgaZ._j^cegdX]V^c# EdjgidjhaZhbViX]Zh!XdjeY¼Zckd^|'%]/
:cViiZcYVci!;gVco 8g‚iZ^a"<jZj\cdc!8]}iZVjgdjm"AVkVa!
 7ZX`ZcWVjZg!eg‚h^YZciYZaV AZBVch"<gZcdWaZ!Adg^Zci"<j^c\Vbe!
7J9<:I'%%*/ Xdbb^hh^dcY¼dg\Vc^hVi^dc!c¼V
eVhXVX]‚hVeg‚[‚gZcXZYZ
9djoZbViX]ZhhdciVjegd\gVbbZYZXZ
egZb^Zgidjgfj^bZiVjmeg^hZhaZh'%XajWhYZ
BdcieZaa^Zg"7ZhVcdc!8aZgbdci;ddi"GdjZc!
IgdnZh"6b^Zch!AZ=VkgZ"KVaZcXZ!
A6BDJGB6ÐIG>H: ®aV^hhZgaVeg^dg^i‚Vj7g‚h^a¯#
B„bZhdcYZXadX]ZYjXi‚
A^\jZ'ZiaZh)XajWhYjX]Vbe^dccVicVi^dcVa
Y^hedhVciYjhiVijiegd[Zhh^dccZa7ZhVcdc!
HZYVc"6c\Zgh!9^_dc"C^dgi!LVhfjZ]Va"7gZhi!
CVcXn"GZ^bh#
?ZVc";gVcd^hAVbdjg!b^c^higZYZaV?ZjcZhhZ!YZhhedgihZi Y¼Da^kZg7^Zg]d[[!bVcV\ZgYZ
YZaVk^ZVhhdX^Vi^kZ!Veg‚hZci‚aZ''hZeiZbWgZhdcegd_ZiYZ aVBVcchX]V[i#
Ad^YZ[^cVcXZh'%%*#AZhXg‚Y^ihWjY\‚iV^gZhh¼‚aƒkZgdci|
,.,!&-Bæ!Ydci*',!&-Bæb^h|Y^hedh^i^dceVgaZ KD>A: 8]g^hi^cZ7g^VcYZiaV K^gVYZhYZa¼Zhed^ghdci
\djkZgcZbZciVjmfjZah^aXdck^ZciY¼V_djiZg',%BæYZ 7K8EKJ:;B7HEKJ; Ijc^h^ZccZ;‚g^Za8]V`gdjc#AV dg\Vc^h‚ZhVjegd[^iYZaVajiiZ
gZhhdjgXZhZmigV"WjY\‚iV^gZh!egdkZcVciYj;dcYhcVi^dcVaYZ :½;B?II7 GdjiZY¼:a^hhVeg‚hZciZaV XdcigZaVbjXdk^hX^YdhZ#
Y‚kZadeeZbZciYjhedgi;C9H#²i^igZ^cY^XVi^[!XZWjY\Zi AVcVk^\Vig^XZ[gVcV^hZ eVgi^XjaVg^i‚Y¼„igZe^adi‚ZeVg EVggV^cYZhYZjmYZgc^ƒgZh
]dgh;C9HgZeg‚hZciZ%!&-YjWjY\Zi\adWVaYZa¼wiVi ;g‚Y‚g^fjZ7g’a‚VgZbedgi‚aV YZhh`^eeZgh[‚b^c^ch|aVi„iZ ‚Y^i^dch!GdWZgiE^gZhZhiVjhh^
[gVcV^h#®8Zc¼ZhieVhhj[[^hVci!XdcXƒYZaZb^c^higZ!bV^h^a &gZ‚Y^i^dcYZaVGdjiZY¼:a^hhV! Y¼‚fj^eV\Zhb^miZh# eVggV^cYZHiVghYZ
h¼V\^iY¼jcWjY\ZigV^hdcc‚!fj^h¼^chXg^iYVchaVad\^fjZYZ XdjgjZhjg&)*%b^aaZhZcigZ X]VbeV\cZ#8ZiiZVhhdX^Vi^dc
a¼Z[[dgi\adWVaYZbVˆig^hZYZhY‚eZchZhejWa^fjZh#¯AZWjY\Zi 7Zngdji]VjA^WVcZi Y‚WjiZjcZhdjhXg^ei^dc
'%%*Zhihje‚g^ZjgYZ%!,+|XZaj^YZ'%%)#JcZVj\bZciVi^dc =VbbVbZi!VjhjY"ZhiYZ DBC>HEDGIH ZmXZei^dccZaaZYZW^aaZih|&æ
?D=CB689DJ<6AA$6;E

fj^c¼‚k^iZgVeVhjcZg‚YjXi^dcYZhZ[[ZXi^[hVjhZ^c Ijc^h#6egƒhYdjoZ_djgh|WdgY B;IIFEHJ?<I9EDJH; edjg\V\cZgbV^aadihZih]dgih


Yjb^c^hiƒgZ#B7KH;DJBEKÎJ YZhdcWViZVjAZ7Zngdji]!ZaaZ B7CK9EL?I9?:EI; edgi‚heVgjcZfjVgVciV^cZYZ
YZkVcXZhVXdbeVig^diZ 8ZY^bVcX]Z(dXidWgZ!aZh [ddiWVaaZjghegd[Zhh^dccZah#

&Z g  D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


'' ;G::HINA:KII

BDCI;J?>
A:86AB:!:IEJ>H###
A
 6I:BE:I:
Hw76HI>:C9J;DJG$<6BB6

&Z g  D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


'(

:CH6KD>G
A:HDBB:I
H68Gw 9VchaVgZa^\^dch]^cid‰hiZ!aZ;j_^ZhiaVY‚ZhhZ
YZhVgWgZhZcÄZjgh/aVcj‚Zajb^cZjhZfj^
ÄdiiZVjidjgYZhdcXgViƒgZ‚kdfjZgV^iaZh
ÄZjghYZhXZg^h^ZghVjeg^ciZbeh#AZh
WdjYY]^hiZh!Zjm!igdjkZcifjZaVX^bZ
ZccZ^\‚ZYjkdaXVcgVeeZaaZaZWdjidcWaVcX
Yjadijh0YZeajh!aZh]j^ie^Xhfj^hZYgZhhZci
VjidjgYjXgViƒgZXdggZhedcYZciVjm]j^i
e‚iVaZhYZaVÄZjghVXg‚Z


6H8:CH>DC
9J;J?>
B>8=6:AH#N6B6H=>I6$8DG7>H

HjgaVbV_dg^i‚YZhe]didhZiYZh\gVkjgZh
gZeg‚hZciVciaZ;j_^"NVbV!dckd^ihdc
hdbbZigZXdjkZgiYZcZ^\Z#8¼ZhihVeVgjgZ
Y¼]^kZgej^hfj¼Zc‚i‚!hZheZciZhV^ch^fjZ
aZhWdgYhYZhdcXgViƒgZhdcieVg[V^iZbZci
9ZhXZcYgZaZbdci7aVcXZcKII!VkdjhiZciZ48¼ZhijceZj hZXh#H^cdjhVkdchZ[[ZXij‚cdigZVhXZch^dc
YVchaVegZb^ƒgZfj^coV^cZYZhZeiZbWgZ!
XZfjZk^ZciYZg‚jhh^gjceZi^i\gdjeZYZ;gVcV^h!|jc aZh‚edfjZhgZXdbbVcY‚ZhhZh^ijZci
eajiiZc_j^aaZiZcVd’i#8¼ZhieZcYVciXZh
®Y‚iV^a¯egƒh/a¼VXi^dchZh^ijZVj?Vedc!|(,,+bY¼Vai^ijYZ! hZjahbd^h!ZcZ[[Zi!fjZidjhaZhigVchedgih
ZcXdbbjcV^ch^fjZaZhgZ[j\Zh
VjhdbbZiYjbni]^fjZ;j_^"NVbV [dcXi^dccZci|eaZ^cg‚\^bZ#

’
8dbbZaZY^ijcegdkZgWZ_VedcV^h/®AZ fjZafjZh^chiVciheajhiVgY!jckZciXViVXanhb^fjZ
X^Zac¼Zhi_VbV^hVjhh^ajb^cZjmfj¼Vj hZY‚X]VˆcZ#DccZh¼ViiVgYZgV\jƒgZa|"]VjiEdjg
aZcYZbV^cYjine]dc#¯8¼ZhikgV^Cdjh ViiVfjZgaVYZhXZciZ!dcYd^iViiZcYgZfj¼^a[VhhZ
ZcigZegZcdcha¼VhXZch^dcYj;j_^"NVbVVadghfjZaZ VhhZoXaV^gedjgkd^ghjgfjd^®edhZghZhgdjZh¯#AZ
eVnhhZgZbZi|eZ^cZYjeVhhV\ZYjine]dcc•&-!Zi aZkZgYjhdaZ^aZhihjWa^bZ!VkZXXZcjV\ZZc[dgbZ
X¼Zhib„bZjcZWg^hZi^ƒYZ!ZbWVjbVciaVg‚h^cZYZ YZhdjXdjeZkdaVciZfj^hZY‚kZadeeZ|kjZY¼¶^a#:c
Hw76HI>:C9J;DJG$<6BB6

e^c!fj^cdjhVXXdbeV\cZYƒhaZY‚eVgi#Fj¼^bedgiZ fjZafjZhb^cjiZh!aVajb^ƒgZbdciZ/®8¼ZhieVgi^¯
h^aZhZci^ZgZhXVge‚dWa^\Z|edjhhZgdj|edgiZgaZh 6jiVciaVbdci‚ZVj;j_^"NVbVZhih^cjZjhZ!VjiVci
k‚adh/aZgni]bZZhik^iZeg^h#>anVa|Da^k^ZgZiEVhXVa! a¼^i^c‚gV^gZYZaVYZhXZciZ!djkZgiZVjWjaaYdoZg|
X]Z[YZegdYj^iZi^c\‚c^ZjgYZGZcVjai8nXaZhkZcjh igVkZghaZhX]VbehYZaVkZ!ZhigZXi^a^\cZXdbbZ
iZhiZgYVcha¼Zmig„bZaZÄZjgdcYZaZjg\VbbZ'%%*# jcZe^hiZYZh`^#DcnbZhjgZY¼V^aaZjgh|fjZaed^ci
8]g^hi^VcZ!8]g^hide]Z!=Zgk‚!;gVcd^h!BV\Va^! aZKIIh¼VeeVgZciZ|jck‚g^iVWaZhedgiYZ\a^hhZ#
HZg\ZZiidjhaZhVjigZh!bZbWgZhYZhhdX^‚i‚h6^g 9ƒha¼ViiVfjZ!^aeVgVˆiY^[ÃX^aZYZhVkd^gh^dckdaZ!
;gVcXZZi@AB#>ahdciX]d^h^YZX‚a‚WgZgaV[jh^dcYZ
aZjghZcigZeg^hZheVgjcZYZhXZciZYj;j_^"NVbV!aV
Zbedgi‚eVgaZkZci!djW^Zch^dch`^ZYVchaV
edjhh^ƒgZYZaVkZ²a¼‚igVc\Zi‚YZhhZchVi^dch H6AIDIH9
bdciV\cZhVXg‚ZYj?Vedc!ZcKII#K‚c‚g‚ZVjeVnh
YjHdaZ^a"AZkVci!aZ;j_^Yd^i„igZ\gVk^YZcj^iVÃc
Y¼ViiZ^cYgZaZhdbbZiVjbdbZcid‘a¼VjgdgZ‚XaV^gZ
h¼V_djiZaVW^oVggZg^ZYjeVnhV\Z/Xdjad^ghYZaVkZ
gdj\Z!dgVc\Z!dXgZ!\g^hZ!cd^gZ°YdciaZheZciZh
egdcdcX‚ZhÃaZcihVchgjeijgZ_jhfj¼|aVkVaa‚ZkZgi
9:G:C6JAI
CdjkZVji‚'%%*!Y^hedc^WaZX]Zoidjh
aZXgViƒgZ!XZfj^Zm^\ZaZgZheZXiY¼jci^b^c\eg‚X^h# iZcYgZfj¼jcZbZgYZcjV\ZhXdbbZcXZ|ZckV]^g# aZhY‚iV^aaVcihYZXnXaZh!ZicdceajhYVch
AZed^ciYZY‚eVgi!|'(%%bY¼Vai^ijYZ!ZhiVeeZa‚ 9VchjcZhdgiZYZkZgi^\Z!aZhk‚adhe^fjZciYZej^h aZhZjag‚hZVjGZcVjaiXdbbZX¼‚iV^i
®HiVi^dc*¯#8ZhhiVi^dchhdciYZhhdgiZhYZgZ[j\Zh aZX^ZaY¼VojgkZghaZ\g^hVg\Zci‚YZaVeaV^cZ#Hjg _jhfj¼|eg‚hZciaZXVh#HVaidIH9!
d‘dceZjiWd^gZjcZiVhhZYZi]‚ZihZgZedhZg#²aV XZgiV^chigdcdchYZaVe^hiZ!aZhXdbeiZjghV[ÃX]Zci aZbdYƒaZiZhi‚adghYZaVYZhXZciZYj
HiVi^dc-()*%b!jcXdjeY¼¶^ahjga¼Vai^bƒigZZi +%`b$]²bZhjgZfjZa¼Vai^ijYZWV^hhZ!aV ;j_^"NVbV!ZhiYdi‚Y¼jcXVYgZVajb^c^jb
aZX]gdcdbdcigZfjZaZgni]bZcZ[V^Wa^ieVh#²aV gZhe^gVi^dcYZk^ZcieajhV^h‚ZiVcY^hfjZaZheZciZh Zci^ƒgZbZcihjheZcYj!VkZXVbdgi^hhZjgh
HiVi^dc.(**%baVg‚\jaVg^i‚YZcdigZegd\gZhh^dc hZ[dcieajhYdjXZhZiaViZbe‚gVijgZeajhX]VjYZ# Vgg^ƒgZda‚decZjbVi^fjZhZi[djgX]Z
hZXdcÃgbZ#BV^hY‚hdgbV^h!eajhYZgZ[j\Z#Dc 6jXjcbZbWgZYZa¼Zme‚Y^i^dcc¼VjgV^i^bV\^c‚XZ |hjheZch^dcYdi‚ZY¼jcWadXV\Z0
h¼Zc\V\ZYVcha¼dWhXjg^i‚#Idji_jhiZY^hi^c\jZ"i"dc eaV^h^gYZY‚Xdjkg^ghdjYV^cYZeZi^ihWj^hhdchYdg‚h ',k^iZhhZh^cYZm‚ZhZi[gZ^ch|Y^hfjZh
aVWdgYjgZcd^gZYjXgViƒgZigVcX]VcihjgaZWaZj ‚eVge^aa‚hYVcha¼^bbZch^i‚b^c‚gVaZ/a¼jc^kZghYZh ]nYgVja^fjZh#Eg^m/...æ#
egd[dcYYZaVcj^i# ]dbbZhAVXdjX]ZYZcjV\Zhfj^bVhfjV^iaV
kVaa‚ZZhiigVkZgh‚ZZcfjZafjZh^chiVcih#HdjhaZ
KZciXViVXanhb^fjZ XdjkZgiYZhVgWgZh!aVe^hiZYZk^ZcijcaVg\ZX]Zb^c
6adgh^a[VjiedjhhZg!edgiZg!bVgX]ZghVcheZchZg W^ZcgdjaVci#BV^ciZcVci!aVYZhXZciZZhieajh
|g^ZcY¼VjigZfj¼VXXdgYZgaZhdj[ÄZVjeVh#8VgaZh Xdc[dgiVWaZ9Zk^gV\ZZck^gV\Z!aVgdjiZZcaVXZiÃaZ
Z[[ZihYZa¼Vai^ijYZXdbbZcXZci|hZ[V^gZhZci^g/ kZghaZaVX@VlV\jX]^fj^ZhiaZed^ciYZY‚eVgi
gZhe^gVi^dceajhXdjgiZ!a‚\ZgbVaYZi„iZ°BVa\g‚aV igVY^i^dccZaYjeƒaZg^cV\ZVj;j_^"NVbV#9Zej^h
Wg^hZYZeajhZceajh[dgiZZi[gd^YZ!dcigVche^gZhdjh hZhWZg\Zh!cdjhVYb^gdchjcZYZgc^ƒgZ[d^haV
Hw76HI>:C9J;DJG$<6BB6

aZhXdjeZ"kZci#HdjYV^c!|jcY‚idjgYjhZci^Zg! h^a]djZiiZengVb^YVaZYjkdaXVcfj^hZegdÃaZYVch
hZYgZhhZciZcÃcaZhYZjmXdadccZhfj^bVgfjZci aZX^Za!^gg‚ZaaZ#8ZaaZfj^!YZej^hYZhh^ƒXaZh!^che^gZ
a¼Zcig‚ZYjYdbV^cZhVXg‚#AZhdbbZiZhiegdX]Z aZh[VbZjhZhZhiVbeZh_VedcV^hZh°N
BV^hfjVcYcdjhViiZ^\cdchaZWdgYYjXgViƒgZ! :EC?D?GK;B;8HKD

&Z g  D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


') 6K:CIJG:HJGK>KG:

K>::C9
A:H7DCHGw;A:M:H:CB>A>:J=DHI>
:Vj![gd^Y!bZg!Y‚hZgi!X]VaZjg!gZfj^ch!bdciV\cZ!hd^[!cVj[gV\Z°#8dbbZci
[Vji"^ag‚V\^gadghfj¼dcZhiXdc[gdci‚|jcZh^ijVi^dcZmig„bZ4G‚edchZhYVchXZheV\Zh!
g‚Va^h‚Zh|eVgi^gYZHjgk^kgZ!aZa^kgZg‚[‚gZcXZZcaVbVi^ƒgZ!h^\c‚MVk^ZgBVc^\jZi#

’ Kdjh„iZhkdjhY‚_|gZigdjk‚[VXZ|[VXZ
BDCI6<C:!JC>K:GH²=6JIG>HFJ:
6A7>CB>8=:A

VkZXjcXgdXdY^aZ!VjigZbZcifjZYVchjc
odd46kZo"kdjhY‚_|Xdccj!eVgjcZWZaaZ
¹HJGK>KG:! bVi^c‚ZY¼‚i‚!aVXjg^ZjhZZme‚g^ZcXZYZidbWZg|aV 6iiZci^dcaZX]VjYZiaZ[gd^Ykdcihdj[ÄZg# egdedgi^dccZa|aVhjg[VXZXdgedgZaaZZmedh‚Z#
8DBB:CI bZg!VadghfjZkdigZkd^a^Zgedjghj^i!bdaaZbZcibV^h AVbdciV\cZZhijcb^a^ZjeVgi^Xja^ƒgZbZci EVgV^aaZjgh!a¼Vai^ijYZ^cÄjZhjga¼Va^bZciVi^dc#
K6>C8G::C ^cZmdgVWaZbZci!hVgdjiZhdjhe^adiZVjidbVi^fjZ4 e‚c^WaZadghfjZ!h¼V_djiVciVj[gd^YZi|a¼Vai^ijYZ! AVeZgiZY¼Vee‚i^iZhi^c‚k^iVWaZ#
B>A>:J=DHI>A:º KdigZkd^ijgZZhi"ZaaZidbW‚ZZceVccZ!jchd^gYZ hZ\gZ[[ZciaViZbe„iZ!a¼Vc\d^hhZYZeVhhV\Zh 6j"YZa|YZ+%%%b!a¼VcdgZm^ZZhiXdchiVciZ#
8¼ZhiaVW^WaZYZidjh g‚kZ^aadc!hjgjcZeZi^iZgdjiZZccZ^\‚Z!VadghfjZ Y^[ÃX^aZh!a¼Vcm^‚i‚YZkd^gjcXd‚fj^e^Zg AZg‚hjaiViZhijcZeZgiZYZed^Yh^bedgiVciZZi
aZhVkZcijg^Zgh! kdigZi‚a‚e]dcZcZXVeiZeVhaZg‚hZVjZifj¼^a[V^i ®XgVfjZg¯!aVeZjgYZcZeVh„igZY^\cZ ^c‚k^iVWaZ/&`\eVghZbV^cZZcigZ)*%%Zi
jcZmigVdgY^cV^gZbVcjZa ·*•8YZ]dgh4Cdc4EdjgiVciXZhVXX^YZcih Y¼VXXdbeV\cZgjc]dbbZY¼Zme‚g^ZcXZ!ZiX# +%%%b0'`\eVghZbV^cZVj"YZa|YZ+%%%b#
YZhjgk^Z!aZ\j^YZ
c¼Vgg^kZcieVhfj¼VjmVjigZh#8dbbZYVchW^Zc 6kZXa¼Vai^ijYZ!aViZbe‚gVijgZX]jiZY¼Zck^gdc&•8 A¼Vae^c^hiZZhi‚\VaZbZciXdc[gdci‚Vjm\ZajgZh#
^cY^heZchVWaZedjgidjh
Y¼VjigZhh^ijVi^dchZcXdgZeajhegdWa‚bVi^fjZh! eVg&%%bYVchaZhXdjX]ZhbdnZccZhYZ :ceg‚kZci^dc!adghfj¼dcZhiVgg„i‚!dch¼Z[[dgXZYZ
aZheVhh^dcc‚hY¼djiYddg#
b^ZjmkVjiXdccVˆigZaZh\ZhiZh_jhiZh#ËiZh"kdjh a¼Vibdhe]ƒgZ#:cb„bZiZbeh!aZkZciVj\bZciZ! egVi^fjZgYZhXdcigVXi^dchbjhXjaV^gZhhiVi^fjZh!
6j[^aYZXZiiZhZXdcYZ
eg„ih|eVgi^gedjga¼VkZcijgZ4 ZiVkZXaj^aZgZ[gd^Y^hhZbZcieVgXdckZXi^dc! fj^VXi^kZciaVX^gXjaVi^dc#
‚Y^i^dcZcXdgZZcg^X]^ZZi
#

YZhZh*%%eV\Zh!kdjh
VeegZcYgZoidjiZhaZh
iZX]c^fjZhedjgkdjh
hdgi^gYZhh^ijVi^dch
Zmig„bZh!kdjhXdccVˆigZo
idjhaZhigjXhZiaZh
VhijXZhedjgajiiZgXdcigZ
aZh‚a‚bZcih#>aZhi‚Xg^i
eVgMVk^ZgBVc^\jZi!
b‚YZX^cYZa¼Zmig„bZ
Zihedgi^[idji"iZggV^c
X]Zkgdcc‚#AVk^Zc¼VnVci
eVhYZeg^m!XZa^kgZkZcYj
(%æZhifjVh^bZci
Ydcc‚6aW^cB^X]Za!
cdjkZaaZ‚Y^i^dc'%%)#

&Z g  D 8 I D 7 G :  ' % % ) 

PDF généré avec les solutions Sowedoo


'*

96C<:G
A:

Dc‚k^iZgVYVchaVbZhjgZYjedhh^WaZ/ AZbVaV^\jYZhbdciV\cZhB6BViiZ^ci*%YZh jcZ_djgc‚ZYZgZedhdjVegƒhjcZYZhXZciZjceZj


 aVedh^i^dcVXXgdje^Zfj^Xdbeg^bZaZh\gdhhZh hj_Zihfj^dciY‚eVhh‚a¼Vai^ijYZYZ'*%%bYZej^hVj eajhWVhYVchaZhXVhaZheajhh‚g^Zjm#6^ch^a¼¶YƒbZ
VgiƒgZhYZh_VbWZh! bd^ch+]ZjgZh#AZhj_ZiViiZ^cieg‚hZciZjcdj X‚g‚WgVaYZ]VjiZbdciV\cZVWdji^i|aVbdgiZc
 aZhhdjh"k„iZbZcihfj^hZggZciigdeaZh eajh^ZjghYZhhnbeibZhhj^kVcih/bVjmYZi„iZ fjZafjZh]ZjgZh!h^a¼dcc¼VYdeiZeVhaZhZja
Zmig‚b^i‚h#8ZiiZdWhZgkVi^dcZhiY¼VjiVcieajh .*YZhXVh0cVjh‚ZhZieZgiZhY¼Vee‚i^i(%! igV^iZbZci|aV[d^heg‚kZci^[ZiXjgVi^[/aVYZhXZciZ
_jhi^ÂZfj¼jcYZhh^\cZhYZaVbVa"VYVeiVi^dc|aV ^chdbc^Z,%!XdcigVhiVciVkZXjcZhdbcdaZcXZ ^bb‚Y^ViZZigVe^YZ|jcZVai^ijYZ^c[‚g^ZjgZ|
bdciV\cZZhia¼VeeVg^i^dcYZeZi^ih¶YƒbZh/aZ YVchaV_djgc‚Z0jcZY^b^cji^dcYjY‚W^ijg^cV^gZZi (%%%b#H^jcZiZaaZ‚kVXjVi^dcZhi^bedhh^WaZ!jcZ
WgVXZaZihZggZ!aVWV\jZh¼^cXgjhiZYVchaZYd^\i!ZiX# YZhkdb^hhZbZcihhdciYZhh^\cZhYZ\gVk^i‚# h^beaZYZhXZciZYZfjZafjZhXZciV^cZhYZbƒigZh
 idjiXdciVXib‚iVaa^fjZfj^ZcigVˆcZYZh\ZajgZh# eZjihj[ÃgZ|ZcgVnZgjcZ‚kdaji^dc\gVkZ#A¼¶YƒbZ
DcgZbeaVXZgVidjik„iZbZci]jb^YZ/a¼]jb^Y^i‚ Eg‚kZc^gaZbVaYZhbdciV\cZh V^\jYjedjbdcZhijcZVjigZXdbea^XVi^dc!fj^eZji
bjai^ea^ZeVg&)a¼VXi^dcYj[gd^YZidchZgV|a¼V[[’i Edjgeg‚kZc^gaZBVb!|eVgi^gYZ&,%%b!a¼VhXZch^dc „igZbdgiZaaZ#AVbV_dg^i‚YZhXVhhjgk^ZcikZgh)%%%!
Y¼jcZeZgiZYZhZch^W^a^i‚YZhZmig‚b^i‚h bVm^bjbYd^i„igZYZ,%%b$_djg_jhfj¼|(*%%b!Zi *%%%b!hd^i|YZhVai^ijYZhYZigZ``^c\djYZXVbeh
aZ\gVcYYVc\ZgYZh\ZajgZhZhi_jhiZbZci YZ(*%b|)%%b$_djgVj"YZhhjh#AZBVbZhi YZWVhZ#EdjgaZeg‚kZc^g!a¼VhXZch^dcYd^i„igZ
aZjgVeeVg^i^dc^ch^Y^ZjhZ# \‚c‚gVaZbZciW‚c^cZiigVch^id^gZ!h¼VbZcYVciZc egd\gZhh^kZ#Hjgidji!dcgZYZhXZcYVjbd^cYgZYdjiZ# ’

96K>9@:6IDC$8DG7>H

&Z g  D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


'+ 6K:CIJG:HJGK>KG:

96CHA6HDA>IJ9:9J9wH:GI
’ AZhY‚hZgihX]VjYhXdjkgZci'%YZhiZggZh YjY‚hZgi¯cZk^kZci_VbV^hidghZcj!
‚bZg\‚Zh#AViZbe‚gVijgZbVm^bVaZZcgZ\^hig‚Z ÂjcZb„bZfjVci^i‚Y¼ZVjYd^i„igZWjZZc
|a¼dbWgZZhiYZ *-•8A^WnZ#6jiVciY^gZfjZX¼Zhi eajh^Zjgh[d^hZicdcZcjcZeg^hZ/aZ[gVXi^dccZbZci!
YZhd^[fj¼dcbZjgiYVchaZY‚hZgi!eVhYZ[V^b# ZcVibdhe]ƒgZX]VjYZ!eZgbZiYZXdchVXgZg.%|
AZheg‚kZci^dchk^hZciYdcX|Y^b^cjZgaV .*YZa¼ZVjWjZ|aVi]Zgbdg‚\jaVi^dcZcjcZ
Y‚h]nYgViVi^dc/ eg^hZhZjaZbZci'*|*%0XZheg^hZhY¼ZVjYd^kZci
 idjiZ[[dgiY^jgcZYd^i„igZhjeeg^b‚hVj[ Y‚WjiZghVchViiZcYgZaVhd^[#Dch¼VWhi^ZciYZidjiZ
X^gXdchiVcXZhZmXZei^dccZaaZh!YVchXZXVhaV eg^hZYZhZaZiYZidjiZVa^bZciVi^dch^dccZY^hedhZ
Y^hiVcXZZ[[ZXij‚Zc¼ZmX‚YZgVeVh&*|'%`b! eVhY¼ZVjZcfjVci^i‚hj[ÃhVciZ!
eVgXdjgjZZc(|)]ZjgZhbVm^bjb0idjiZ
^ggVY^Vi^dchdaV^gZYd^i„igZ‚k^i‚Z/a¼VWg^^Y‚VaZhijc GZhiZghjgaZa^ZjYZa¼VXX^YZci
igdjYZ&|'bYZegd[dcYZjgXgZjh‚YVchaZhda/ Âedjg‚Xdcdb^hZghdc‚cZg\^Z!^a[VjibVgX]ZgVj
^aZhik^iVaYZhVkd^gfj¼|(%dj)%XbYZegd[dcYZjg! e^ZYYZhYjcZhaZhVWaZnZhieajh[ZgbZ#Idj_djgh
aZhVWaZZhiY‚_|cZiiZbZcieajh[gV^hZihdjkZci eVghdjX^Y¼‚Xdcdb^Z!dch¼VhigZ^ci|gZhiZgaZeajh
bd^chhZXfj¼Zchjg[VXZ#BV^h|&!*%bYZ adc\iZbehedhh^WaZVjb„bZc^kZVj!hVchbdciZg
egd[dcYZjg!aViZbe‚gVijgZYjhVWaZhZbV^ci^Zci c^YZhXZcYgZhVchXZhhZVjÃaYZhYjcZh#
idjiZa¼Vcc‚ZZi|c¼^bedgiZfjZabdbZciYZaV AZhY^hiVcXZhhdciigdbeZjhZhYVchaZY‚hZgi
_djgc‚ZZcigZ&%Zi&,•8#8ZiVWg^!hj[ÃhVbbZci ^a[VjiYdcXbjai^ea^ZgaZhZhi^bVi^dcheVg'djeVg(!
kVhiZedjgh¼Vaadc\Zg!ZhigZXdjkZgiY¼jcZid^aZ! Â Zcgƒ\aZ\‚c‚gVaZ!^a[VjigZhiZgVje^ZYYjk‚]^XjaZ
‚k^iVcia¼^ggVY^Vi^dchdaV^gZ0XZiiZid^aZYd^ieZgbZiigZ djYZa¼Vk^dcZceVccZ/^ahXdchi^ijZcijcWdcgZeƒgZ
VjkZciY¼V‚gZgaVhjg[VXZhje‚g^ZjgZYjigdj! k^hjZa!d[[gZciYZa¼dbWgZ!YZa¼ZVjXZaaZYjgVY^ViZjg
ZihdcihdjgXZYZ[jb‚ZedjgaZgZe‚gV\ZZhhZcXZ!
?VbV^hidghZcj ]j^aZ!ZiX#ÄVbWZciZcY‚\V\ZVciYZh[jb‚Zhcd^gZh#
6CC:"B6G>:L:7:G$8DG7>H

Â|eVgi^gYZ)%•8|a¼dbWgZ!^a[Vji‚k^iZga¼Zmedh^i^dc >ahd[[gZciVjhh^jcVWg^hjg‚aZk‚#DgedjgjcZ
VjkZciZigZhiZgXdjkZgi/cdchZjaZbZciaZkZcicZ iZbe‚gVijgZVjhdaYZ,+•8!|&bYZ]VjiZjg!ZaaZ
gV[gVˆX]^ieajha¼dg\Vc^hbZ!bV^h^aVXXgdˆia¼VeedgiYZ c¼ZhieajhfjZYZ*%•8Zi|'bZaaZYZhXZcY|(-•8!
X]VaZjg#8Zc¼ZhieVhhVchgV^hdcfjZaZh®]dbbZh X]VaZjgXZgiZhXVc^XjaV^gZbV^heajhhjeedgiVWaZ#

A68=6A:JG!A¼:CC:B>:C•&
A¼dg\Vc^hbZ[dcXi^dccZYZ[Vdcdei^bVaZfjVcYhV hncXdeZh#8ZhVYVeiVi^dchhZbZiiZciZceaVXZZc
iZbe‚gVijgZZhiXdbeg^hZZcigZ(+!*Zi(.!*•8# )|,_djghZia¼VXXa^bViZbZcihedciVc‚ZhiXdbeaZi

?:JHBH ²)*•8!aZhegdi‚^cZhXZaajaV^gZhXdV\jaZci!
ZcigVˆcVcijcZbdgigVe^YZ#EdjghZigdjkZgYVch
VjWdjiYZ&'|&)_djgh#AVYjg‚Zb^c^bVaZedjg
g‚Va^hZgjcVXXa^bViZbZciZckjZY¼jcZVXi^k^i‚

@ViVYnc
aVodcZYZXdc[dgii]Zgb^fjZ!Vadghfj¼^aZhicj! _djgcVa^ƒgZYZ+|-]ZjgZhZhiYZ)]ZjgZh
^aYd^i‚kdajZg|jcZiZbe‚gVijgZVbW^VciZYZ'-•8# Y¼Zmedh^i^dceVg_djg!-|._djghXdch‚Xji^[h!
HjgaVeaVcƒiZ!aZhiZbe‚gVijgZhZmig„bZh]VjiZh  eajha¼]n\gdb‚ig^ZZhi^bedgiVciZ!eajhaZh
‚iVciY¼Zck^gdc+%•8Y‚hZgih!a¼dg\Vc^hbZYd^i!YVch k„iZbZcihYd^kZci„igZVbeaZhZiaV^hhZgeVhhZga¼V^g!
7lekib½7l[djkh[$$$ XZhXdcY^i^dch!h¼VYVeiZg!cdiVbbZcieVg VÃcY¼Vj\bZciZgaVeZgiZXVadg^fjZeVgXdckZXi^dc#
b[\he_Z"b[\W_c"bWf[kh[jikhjekjbWie_\$$$ ‚kVedgVi^dcYZa¼ZVjXdgedgZaaZ!VjigZbZciY^ieVg
@ek[p[j[iiWo[pZ[]W]d[hb½kdZ[ia_ji
:;<?BJH7J?EDA7J7:OD$
aVhjYVi^dc#6^ch^!|jcZiZbe‚gVijgZVbW^VciZYZ 8d^[[Z^cY^heZchVWaZ
&*•8!aVhjYVi^dcc¼‚a^b^cZfjZ%!.ahjgaVfjVci^i‚ AZXdidcZhi^Y‚VafjVcY^aZhihZX!bV^h^aV
idiVaZYZ&!)%aY¼ZVj‚a^b^c‚ZZcjcZ_djgc‚Z# jcXdZ[ÃX^ZciYZg‚iZci^dcYZaVhjZjgZmXZhh^[!

;DLEO;P ²('•8!'!)*ahjgaVfjVci^i‚idiVaZeZgYjZYZ(a#
8]VfjZ\djiiZYZhjZjg‚kVedg‚ZegdkdfjZ
Vj\bZciVciaZed^YhYZaVX]Zb^hZZi[gZ^cVci
a¼‚kVedgVi^dc#A¼^Y‚VaZhiYZcZg^ZcedgiZg!h^a¼dc

:6J7K  
jcgZ[gd^Y^hhZbZciadXVa#
AZgZ[gd^Y^hhZbZciZhiYdcXegdedgi^dccZa|aV
Zhi|a¼VWg^YZh^chZXiZhZiYZa¼^ggVY^Vi^dchdaV^gZ#
JcZXd^[[ZZhi^cY^heZchVWaZhdjhaZhdaZ^a#
fjVci^i‚YZhjZjg‚a^b^c‚ZeVg‚kVedgVi^dc# Â >a[VjiWd^gZWZVjXdjeZihdjkZci!aVhd^[‚iVcijc
 h^\cZY¼VaVgbZi‚bd^\cVciY‚_|Y¼jcY‚h‚fj^a^WgZ0
AjiiZgXdcigZaZXdjeYZX]VjY ^a[VjiYdcXWd^gZhVchViiZcYgZaVhZchVi^dcYZhd^[!

Lekii[h[p_ccƒZ_Wj[c[dj_d\ehcƒZ[lei]W_di$
Âa¼VXXa^bViZbZcieVhh^[/VegƒhfjZafjZh_djgh eajh^Zjgha^igZheVg_djg!Zc[dcXi^dcYZaVhjYVi^dc#
Y¼Zmedh^i^dc|aVX]VaZjg!dcVhh^hiZ|eajh^Zjgh 7d^gZ[gV^hZcb^a^ZjX]VjY/ZcidjgZgaZg‚X^e^Zci
?Zj\gVij^ihVchdWa^\Vi^dcY¼VX]Vidg\Vc^h‚eVgHedgiB‚Y^VhZiHigVi‚\^Zh!&+!gjZG^kVn.'(%%AZkVaad^h"EZggZi!kVaVWaZZc;gVcXZb‚igdeda^iV^cZYj&Zg e]‚cdbƒcZhVYVeiVi^[h/Vj\bZciVi^dc YZeVe^Zg_djgcVadjid^aZiiZ!a¼]jb^Y^ÃZgZi
Vj,dXidWgZ'%%)!g‚hZgk‚|idjiZeZghdccZbV_ZjgZhVj[eVgiZcV^gZhdjhdX^‚i‚hdg\Vc^hVig^XZh#EdjgeVgi^X^eZg/:ckdnZg:6JeVgHBHVj,&%&%%!*%
:jgdhII8$Zckd^ eg^mYjHBH#AZh\V\cVcihhZgdciY‚h^\c‚hZc[dcXi^dcYjgVc\Y¼Zckd^YZaZjgbZhhV\Z#JchZjaeg^mViig^Wj‚eVgeVgi^X^eVcib„bZ YZa¼^ciZch^i‚YZaVhjYVi^dc0Y^b^cji^dcYZaViZcZjg a¼ZmedhZgVjh‚X]V\ZVjhdaZ^aZiVjkZci0
cjb‚gdYZi‚a‚e]dcZbdW^aZ#Adihb^hZc_Zj/&`^iYZhjgk^Z@ViVYncY¼jcZkVaZjgjc^iV^gZXdbbZgX^VaZYZ+%ZjgdhII8'*eg^mb^hZc_Zj#;gV^hYZ
eVgi^X^eVi^dcZiYZg‚XaVbVi^dcgZbWdjgh‚hVjmXdcY^i^dcheg‚kjZhYVchaZgƒ\aZbZci#Gƒ\aZbZciXdbeaZiYj_ZjY‚edh‚X]ZoBVˆigZBDCI6C:!=j^hh^Zg
YZ?jhi^XZ!(&%%%IdjadjhZ#Gƒ\aZbZciVYgZhh‚\gVij^iZbZcieVgXdjgg^Zg|idjiZeZghdccZZc[V^hVciaVYZbVcYZ|Eajg^bZY^V"®?:J@6I69NCHEDGI
ZchZahb^c‚gVjm0g‚eVgi^i^dcYjhVc\YVch a¼‚kVedgVi^dckVegdkdfjZgaZgZ[gd^Y^hhZbZci
;G::¯!&&gjZYZ8VbWgV^!,*.)*EVg^hXZYZm&.;gVcXZ#EdjgidjiZg‚XaVbVi^dc!ZckdnZoaZbdi8DCI68IeVgHBHVj,&%&%#8dc[dgb‚bZci|aVAd^!
kdjhY^hedhZoY¼jcYgd^iY¼VXXƒh!YZgZXi^ÄXVi^dcZiYZhjeegZhh^dcYZhYdcc‚hcdb^cVi^kZhkdjhXdcXZgcVci# aZhY^[[‚gZcihi^hhjhgZkZcjZ|aVcdgbVaZ‚a^b^cVci YZa¼ZchZbWaZ!hjgidjih^aZg‚X^e^ZciZhijcZ\djgYZ
aZhg^hfjZhYZXgVbeZhVWYdb^cVaZhZiYZ b‚iVaa^fjZ!YdcXigƒhXdcYjXig^XZ# ’

&Z g  D 8 I D 7 G :  ' % % ) 

PDF généré avec les solutions Sowedoo


',

A6HD>;!EG:B>:GH><C6A9¼6A6GB:
A¼dg\Vc^hbZ]jbV^cZhiXdbedh‚ YZWd^hhdc!^a[Vjih¼VWhiZc^gYZidjiZ YVchjcVhXZchZjg#IgƒhXVabZ!
YZ,%Y¼ZVj#JcZeZgiZa^fj^Y^ZccZ Va^bZciVi^dc0XVgjcZXVadg^Z XZiVcX^Zcb^a^iV^gZi^ZciaZX]dX
YZ'Yjed^YhYZXdgeh&!*aedjg ^c\‚g‚Zc‚XZhh^iZjc&Xb(Y¼ZVj ZiY‚XaVgZ!|hVhdgi^Z/¹?Zg„kV^hYZ
jc^cY^k^YjYZ,%`\g‚Yj^i edjg„igZY^\‚g‚Z# bVc\ZgjcZeaVfjZiiZYZX]dXdaVi#º
aVXVeVX^i‚YZigVkV^abZciVaZi =ZjgZjhZbZcifj¼^ac¼VkV^ieVh
bjhXjaV^gZYZ'%0jcZeZgiZ HVchZVj!cZeVhbVc\Zg YZX]dXdaVi/h¼^aa¼VkV^ibVc\‚!^ahZgV^i
YZ)aVg‚Yj^iYZ)%#HVchZVj JcZgVi^dcVa^bZciV^gZVeedgiZ bdgi!XVgjcZeaVfjZiiZ‚fj^kVji|
Y¼VjXjcZhdgiZ!aVY‚h]nYgViVi^dc (*%%XVadg^ZhZi^bedhZjcVeedgi +%%XVadg^Zh#EdjgaVY^\‚gZg!
Zhig‚\ja^ƒgZZihVchg‚b^hh^dc0 YZ(!*aY¼ZVj!XZiiZZVjhZgVeg^hZ ^aVjgV^iY’XdchdbbZg%!+aY¼ZVj
ZaaZVWdji^i|aVeZgiZYZXdchX^ZcXZ hjgaZhg‚hZgkZhYZa¼dg\Vc^hbZ# fj¼^ac¼VkV^ieVh0^ahZgV^ibdgi
kZghaZ(Z_djg!Zi|aVbdgiZcigZ ®GZ\VgYZoXZ\VgY^ZcY¼^bbZjWaZ YZY‚h]nYgViVi^dc¯!Zmea^fjZ
aZ,ZZiaZ-Z_djg#;VjiZYZY^hedhZg ^iVa^Zc!fj^ZhigZhi‚Wadfj‚&&_djgh MVk^ZgBVc^\jZi#

FjZafjZhbZhjgZhk^iVaZh/
A>B>I:H9:GwH>HI6C8:9:A¼DG<6C>HB:H6CH7D>G:
 VkVciY¼ZciVbZgjcZigVkZgh‚ZY‚hZgi^fjZ!jchjgkda
J;CFxH7JKH;:;B½7?H :KHx;CEO;DD;:;IKHL?; dX‚Vc^fjZ!jcZbVgX]ZYVchaV_jc\aZhVchXdjghY¼ZVj
^cY^fj‚!dch¼]nYgViZgVVjbVm^bjb!Vj"YZa|YZaV
('•8 (_djgh hZchVi^dcYZhVi^‚i‚!
'+•8 )_djgh  dch¼VWhi^ZciY¼VWhdgWZgYZhXdgeh\gVh!bVaida‚g‚h
eVgiZbehX]VjY!hVj[h^a¼dch¼Veeg„iZ|hjgkdaZg
'&•8 +_djgh jcdX‚Vc[gd^Y!

&*•8 &,_djgh
 eZcYVciaVe‚g^dYZY¼Zmedh^i^dc|aVhd^[!dc‚k^iZ
idjiZheg^hZhVa^bZciV^gZh!ZceVgi^Xja^ZgY¼Va^bZcih
hjXg‚h!fj^Vj\bZciZciaVhd^[!
8ZiVWaZVj^cY^fjZfjZX]VfjZYZ\g‚Zcbd^chegdadc\Z Â Zca¼VWhZcXZYZidjiVjigZVeedgi!a¼jg^cZeZji„igZ
aVhjgk^ZYVchYZhegdedgi^dchYZeajhZceajh\gVcYZh! WjZ!hdjhYZjmg‚hZgkZh/XZiiZXdchdbbVi^dc
|bZhjgZfjZaViZbe‚gVijgZX]jiZ!XZfj^_jhi^ÃZ Yd^i„igZ‚e^hdY^fjZ!XVgaVk^c\iV^cZYZ\gVbbZhY¼jg‚Z
YZhXdcYj^iZh!eVhidj_djgh‚k^YZciZhVeg^dg^/ XdciZcjZeVga^igZY¼jg^cZcZeZji„igZ^cY‚Ãc^bZci
gZhiZg^bbdW^aZ|a¼dbWgZYVchaV_djgc‚ZZi ‚a^b^c‚ZeVgaZhgZ^ch0ZaaZYd^i„igZXdchdbb‚Z
cZhZY‚eaVXZgfjZaVcj^iYVchaZY‚hZgi0egZcYgZ idjiYZhj^iZ!_VbV^hVegƒhjcZ®b^hZZcg‚hZgkZ¯!
YZhWV^chY¼ZVjYZbZg[g‚fjZcihfjVcYdcZhicVj[gV\‚ fj^egdkdfjZYZh[dgbVi^dchYZc^igViZh!aVgZcYVci
ZcodcZX]VjYZ!ZiX# ZcXdgZeajhidm^fjZ#

AdghfjZaV
iZbe‚gVijgZVjhda
ZhiYZ,+•8!|'b
YZ]Vji!ZaaZc¼Zhieajh
fjZYZ(-•8/deiZgedjg
jcZedh^i^dchjg‚aZk‚Z
eZji„igZk^iVa
A:HI:GA:;@DL>IO$8DG7>H

&Z g  D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


'- 6K:CIJG:HJGK>KG:

GwH>HI:G²A6B:G
’ 9Zb„bZfj¼dcc¼V_VbV^hkjY¼Vk^dccZeVh idgijZh!Va\jZhdjeaj^Z!dcedjggVgZegZcYgZ
gZ\V\cZgaZhdaeVgc¼^bedgiZfjZabdnZc!dceZji XZiiZ^c\Zhi^dc[gVXi^dcc‚ZedjgjcXnXaZbVm^bjb
Y^gZfj¼^ac¼Zm^hiZeVhY¼Zc\^cÄdiiVcifj^!iidj YZ*|,_djgh#
iVgY!cZgZ\V\cZgVaViZggZ[ZgbZ#AVhZjaZ
Y^[[‚gZcXZZhiiZbedgZaaZZiaVhjgk^ZYjcVj[gV\‚ A¼^be‚gVi^[/\V\cZgYjiZbeh
YZkgVYjgZgaZiZbehc‚XZhhV^gZedjggZ_d^cYgZ Â ^a[VjiXdchdbbZga¼ZVjYdjXZhVchigdeaV[V^gZ
jcZXiZdj„igZgZXjZ^aa^#EVgV^aaZjgh!VjXjcZ YjgZg!hdjheZ^cZY¼VWdgYZgY‚h]nYgVi‚aVe‚g^dYZ
h^ijVi^dcc¼Zhi_VbV^hkgV^bZciVjhh^Y‚hZhe‚g‚Z Y¼^c\Zhi^dcY¼ZVjYZbZg!
fj¼ZaaZaZeVgVˆi# Â dceZjiY¼VWdgYji^a^hZga¼ZVjYdjXZZmXajh^kZbZci!
djW^ZcVaiZgcZgjc_djgY¼ZVjYZbZgZijc_djg
;Vji"^aWd^gZYZa¼ZVjYZbZg4 Y¼ZVjYdjXZ!
>ahZbWaZfjZa¼^c\Zhi^dcY¼ZVjYZbZghd^i  XZgiV^chcVk^\ViZjghXdjeV^Zcia¼ZVjYdjXZ
W‚c‚ÃfjZhdjhXZgiV^cZhXdcY^i^dch#H^a¼dci^Zci Ydci^ahY^hedhV^ZcieVg(%|)%Y¼ZVjYZbZg#
XdbeiZYZY^kZghZhZme‚g^ZcXZh!YdciaVeajh IdjhXZhXVhYZÃ\jgZheZgbZiiZciY¼ViiZcYgZ
XdccjZZhiXZaaZYjYdXiZjg7dbWVgY!aZheg^cX^eZh aZhfjZafjZh_djghVjiZgbZYZhfjZahdcVjgV
hdciaZhhj^kVcih/ idjiZhaZhX]VcXZhYZedjkd^ge„X]Zg#8Vgh^a¼ZVj
 aVXdchdbbVi^dcY¼ZVjYZbZgYd^ihZ[V^gZVkVci
aVhjgkZcjZYZaVhd^[0jcZ[d^hg‚jc^ZhaZh
YZbZgc¼Vj\bZciZeVha¼Zhe‚gVcXZYZk^Z!
ZaaZgVaadc\ZXdch^Y‚gVWaZbZciaZiZbehYjgVci
AJII:G8DCIG:A:
XdcY^i^dchd‘a¼dchZg‚hdji|ZcWd^gZVWhZcXZYZ aZfjZadcgZhiZajX^YZ#HVchZVjY¼VjXjcZhdgiZ! DcgZXZchZfjVigZ[VXiZjghYZgZ[gd^Y^hhZbZci/
g‚hZgkZY¼ZVjYdjXZZieVhYZeZgheZXi^kZhYZeaj^Z aVY‚h]nYgViVi^dcZhig‚\ja^ƒgZZihVchg‚b^hh^dc0 aVXdckZXi^dc!eVgi^Xja^ƒgZbZcifjVcY^anVYjkZci0
egdX]V^cZ!a¼^c\Zhi^dcYd^iXdggZhedcYgZVj ZaaZVWdji^i|jcZeZgiZYZXdchX^ZcXZkZghaZ aVgVY^Vi^dc/|aV[VdcY¼jcgVY^ViZjg!a¼]dbbZ
bVm^bjbVjWZhd^cfjdi^Y^ZcZcX]adgjgZYZ (Z_djgZi|aVbdgiZcigZaZ,ZZiaZ-Z_djg#6kZX gVndccZXdchiVbbZci0a¼‚kVedgVi^dc/XZaaZ
hdY^jbhZa!hd^ijcYZb^"a^igZeVg_djgZck^gdc! a¼^c\Zhi^dcY¼ZVjYZbZg!a¼]nYgViVi^dcgZhiZ Y¼jcZ\djiiZYZhjZjgh¼VXXdbeV\cZ
 a¼^c\Zhi^dcYd^i„igZ[gVXi^dcc‚ZZcjcZY^oV^cZ cdgbVaZZck^gdc,_djghZiaVbdgihjgk^ZcikZgh Y¼jcgZ[gd^Y^hhZbZci0aVXdcYjXi^dc^ciZchZ
YZeg^hZhfjdi^Y^ZccZhYZ'dj(\dg\‚Zh! aZ-ZdjaZ.Z_djg#BV^haZed^ciXVe^iVaZhiaV eVgi^Xja^ƒgZbZciYVcha¼ZVj/|iZbe‚gVijgZ‚\VaZ!
 a¼^c\Zhi^dcYd^i„igZa^b^i‚Z!YZ*|,_djgh XdchZgkVi^dcY¼jcZXdchX^ZcXZeVg[V^iZYjgVci aZgZ[gd^Y^hhZbZciZhiYZ'%|(%[d^heajhgVe^YZ
bVm^bjbZceg^hZXdci^cjZ!hdjheZ^cZYZ ,_djgh#8ZaVehYZiZbehZhiY‚iZgb^cVciedjg YVcha¼ZVjfjZYVcha¼V^ghZX#AVhjgk^ZYVch
Y‚eVhhZgaZha^b^iZh[dcXi^dccZaaZhg‚cVaZh! h¼dg\Vc^hZg!edjgViiZcYgZfj¼jc‚Xd"hnhiƒbZhZ jcZZVj|&%•8ZhiYZa¼dgYgZYZ&]ZjgZ
 h^VegƒhXZaVehYZiZbeh!dcVg‚jhh^|hZ Y‚kZadeeZhdjha¼ZbWVgXVi^dc!edjghZh^\cVaZg |&]ZjgZ(%ZiYZ(%b^cjiZhVjbVm^bjbYVch
egdXjgZgYZa¼ZVj]nedidc^fjZ|eVgi^gYZed^hhdch! Vjm‚kZcijZaaZhgZX]ZgX]Zh#

A:HEDGIEGwE6G:²A6HJGK>:
®EVgY‚Äc^i^dc!jcZh^ijVi^dcYZhjgk^ZZhi[dgX‚bZci YZhb^a^Zjm]dhi^aZh!aVhjgk^Z[V^ihjgidjiVeeZa|YZh
VXX^YZciZaaZ#DccZeZjiYdcXeVhh¼neg‚eVgZg XVeVX^i‚hY¼ZcYjgVcXZ#8¼ZhiY^gZfjZa¼dchjgk^kgV
dW_ZXi^kZbZci!ej^hfj¼dccZXdccVˆieVhaVcVijgZ Y¼VjiVcib^Zjmh^dcVegVi^fjZjchedgiYZ[dcY/
YZhY^[ÄXjai‚hVjmfjZaaZhdchZgVXdc[gdci‚h¯! cViVi^dc!k‚ad!_d\\^c\!ZiX#
gVeeZaaZMVk^ZgBVc^\jZi#C‚Vcbd^ch!aV\gVcYZ
bV_dg^i‚YZXZhh^ijVi^dchgZfj^Zgi|jcbdbZci 6j\bZciZghdc¹hZa[Xdcigdaº
djjcVjigZ!jcZ[[dgie]nh^fjZeajhdjbd^ch AZhW^Zc[V^ihYZa¼ZcigVˆcZbZciZcZcYjgVcXZhdci
egdadc\‚#;VjiZYZedjkd^g[djgc^gXZiZ[[dgi! bjai^eaZh/Vb‚a^dgVi^dcgVe^YZYZheZg[dgbVcXZh
aZhX]VcXZhYZhjgk^ZY^b^cjZgdcidjb„bZ e]nh^fjZh!gVaZci^hhZbZci^bedgiVciYjgni]bZ
Y^heVgVˆigdci#8¼ZhiY^gZaVc‚XZhh^i‚YZhZbV^ciZc^g XVgY^VfjZ!eVhhVciXdjgVbbZciYZ,%|*%
idj_djghVjb^ZjmYZhV[dgbZ# ejahVi^dcheVgb^cjiZVegƒhfjZafjZhbd^h
Y¼ZcigVˆcZbZcicdgbVa!Vj\bZciVi^dcYj®hZa[
AZhedgiXg‚ZYZa¼ZcYjgVcXZ Xdcigda¯eVgjcZY^b^cji^dcYjidcjhhnbeVi]^fjZ
®;^cVaZbZci!Y^iMVk^ZgBVc^\jZi!aZegZb^Zg XZaj^YjhigZhh!Y^b^cji^dcYZaV[Vi^\VW^a^i‚ZiYj
ZcigVˆcZbZci|aVhjgk^Z!X¼ZhiaZhedgi#vVYZkgV^i iZbehYZhdbbZ^ac‚XZhhV^gZ#>ac¼Zhi_VbV^higde
Xdc[dgiZgZcXdgZjceZjeajhaZhaZXiZjghYZXZ_djgcVa iVgYedjgXdbbZcXZgjcZcigVˆcZbZcie]nh^fjZ#
|aZegVi^fjZg#AZhedgiXg‚ZYjbjhXaZZiYjX¶jg!bV^h AZhegd\gƒhhdcigVe^YZh!bV^ha¼Z[[dgiYd^i„igZ
^aegdkdfjZVjhh^jcZ¹\nbcVhi^fjZkVhXjaV^gZºYdci hdjiZcj|gV^hdcY¼Vjbd^ch.%b^cYZ_d\\^c\!eVg
_ZeZchZfj¼ZaaZZhiigƒhW‚c‚ÄfjZYVcha¼VYVeiVi^dc ZmZbeaZ!eVghZbV^cZ!XZfj^eZgbZiYZXdchZgkZg
i]Zgb^fjZ!fjZXZhd^ikZghaZX]VjYdjaZ[gd^Y#¯ a¼VXfj^h#BV^hViiZci^dc/igd^hbd^hYZhjheZch^dc
Fj¼ZhiXZfjZaZhedgi!h^cdcjcZVXX‚a‚gVi^dc idiVaZY¼ZcigVˆcZbZciZiXZiVXfj^hhZgVidiVaZbZci
fjVci^iVi^kZ!fjVa^iVi^kZZiiZbedgZaaZYZidjhaZh eZgYjZiYdcX|gZ[V^gZ#7ZVjXdjeY¼ZmeadgViZjgh
b‚XVc^hbZhXdbeaZmZhfj^eZgbZiiZci|jc eVgiZciZcZme‚Y^i^dc|a¼^hhjZYZeajh^ZjghhZbV^cZh
dg\Vc^hbZYZXdchZgkZghZhXdchiVciZh Y¼dg\Vc^hVi^dc!YjgVciaZhfjZaaZh^ahdcic‚\a^\‚aZjg
e]nh^dad\^fjZhiZbe‚gVijgZ!iZch^dcVgi‚g^ZaaZ! ZcigVˆcZbZcie]nh^fjZ!h¼ZcgZbZiiVci|aVWdccZ
dmn\‚cVi^dci^hhjaV^gZ4GZhiZfjZYVchaVeajeVgi [dgbZfj^Vidj_djgh‚i‚aVaZjg#<gVkZZggZjg#

&Z g  D 8 I D 7 G :  ' % % ) 

PDF généré avec les solutions Sowedoo


'.

YZ(*#CjYVchjcZZVj|*•8!dceZjibdjg^gZc
(%b^cjiZh!bV^h]VW^aa‚ZihVchWdj\Zg!dceZji
g‚h^hiZgjcZ]ZjgZ#

9Vcha¼ZVj!gZhiZg^bbdW^aZ
9VchjcZZVj|&*•8!dceZjibdjg^gZc&]ZjgZZi
hjgk^kgZ*]ZjgZhh^a¼dcZhi]VW^aa‚#AZhXdcY^i^dch
dei^bVaZhYZhjgk^ZZc^bbZgh^dchdciYdcX/„igZ
]VW^aa‚VjbVm^bjbhVch\„cZgaVÄdiiVW^a^i‚0
Vkd^gaVWdjX]ZZiaVcjfjZbV^ciZcjZh]dghYZ
a¼ZVjaZhXZcigZhWjaWV^gZhYZaVgZhe^gVi^dcZiYZ
aVi]Zgbdg‚\jaVi^dchdcieaVX‚hVjc^kZVjYZaV
cjfjZ!Y¼d‘aV[dgbZYZh\^aZihYZhVjkZiV\Z!fj^
bV^ci^ZccZciaVi„iZZiY‚\V\ZciaVcjfjZ0cZeVh
Wdj\ZghVj[h^jcXVcdiZhiigƒhegdX]Z#
Â
 YVcha¼V^g/jcVWg^!b„bZhjXX^cXi!d[[gZjcZ
iZbe‚gVijgZidj_djghhje‚g^ZjgZ|XZaaZYZa¼V^g
VbW^Vci0^aegdiƒ\ZYjkZci|‚\Va^i‚YZiZbe‚gVijgZ!
aZgZ[gd^Y^hhZbZcieZji„igZYZ&%|'%[d^heajh
^bedgiVcihZadcaVk^iZhhZYjkZci/VkZXjckZciYZ
&-`b$]!jcZiZbe‚gVijgZYZ%•8‚fj^kVji|"(•8!
<6A:CGDL:AA$8DG7>H

h^aZkZcieVhhZ|,'`b$]!ZaaZX]jiZ|"'&•8#
 ‚k^iZga¼VaXddaZiZhhVnZg
YZg‚h^hiZg|aViZciVi^dc
YjhdbbZ^a#
;GD>9
jcZZVj|%•8h^a¼dcZhi]VW^aa‚#
 YVcha¼ZVj/aVXgdnVcXZZhiigƒhg‚eVcYjZhZadc
aVfjZaaZ^a[VjihZYdccZgYZa¼ZmZgX^XZfjVcYdcZhi
cVj[gV\‚VÃcYZhZg‚X]Vj[[Zg#BVjkV^hg‚ÄZmZ/
YVcha¼ZVj!a¼ZmZgX^XZY‚eZchZYZhXVadg^Zhfj^
Vgg^kZci|aVhjg[VXZYjXdgeh!hVchedjgVjiVciaZ
g‚X]Vj[[Zg#EVgV^aaZjgh!aVY^hiVcXZfjZa¼dceZji
Zhe‚gZgeVgXdjg^gYVchjcZZVj|&%•8Y‚eVhhZ|
eZ^cZaZ`^adbƒigZ#B^ZjmkVjiYdcX!adghfj¼dc
ZhiedgiZjgY¼jc\^aZiYZhVjkZiV\Z!‚k^iZgidjh
w8=6EE:G
bdjkZbZcih/dcegdadc\ZV^ch^hVhjgk^Z
6JMG:FJ>CH
>ac¼Zm^hiZeVhjchZjag‚X^id‘aZhcVj[gV\‚h!ZcbZg
igde^XVaZ!c¼V^ZcieVhZjV[[V^gZ|YZhgZfj^ch#AZjg
eg‚hZcXZ‚iV^i‚e^hdY^fjZbV^hg‚\ja^ƒgZ!idj_djgh
^cfj^‚iVciZ!Zbe„X]VciaZhcVj[gV\‚hYZhZbZiigZ|
a¼ZVj!aZh\„cVciedjge„X]Zg#

GZYdjiVWaZhbV^h[gV\^aZh|a¼^beVXi
HjgaZheajhYZ(*%ZheƒXZhYZgZfj^c!jcZYdjoV^cZ
hZjaZbZciZhid[ÃX^ZaaZbZci^ci‚\g‚ZYVchaZ\gdjeZ
®bVc\ZjghY¼]dbbZh¯#AZhgZfj^chaZheajh\gdh
hdcihdjkZciXdch^Y‚g‚hXdbbZaZheajhYVc\ZgZjm#
8¼Zhi[Vjm/aZgZfj^c"WVaZ^cZ_jhfj¼|&*b
Zhi^cd[[Zch^[#BV^hjcgZfj^c"i^\gZ&!-%beZji
Y‚eZXZgjc]dbbZ#AZhgZfj^chcZhdcieVhedjg
VjiVciigƒhg‚h^hiVcih#8ZgiZhgZYdjiVWaZh!^ahhdci
[gV\^aZh|a¼^beVXi#H^aZhViiVfjZhhdcieajh
[g‚fjZciZhYVchaZhbZgh®X]VjYZh¯!^a[VjiY¼jcZ
bVc^ƒgZ\‚c‚gVaZgZheZXiZgfjZafjZhgƒ\aZhYZ
®h‚Xjg^i‚¯/‚k^iZgYZcV\ZgaVcj^iYVchjcZbZg
|g^hfjZaZhgZfj^chhdciV\gZhh^[hVkZXidjiXZfj^
Wdj\ZZihZbWaZciX]VhhZgYZeg‚[‚gZcXZaVcj^i0
‚k^iZgYZedgiZgYZhbV^aadihYZWV^chdjYZh
k„iZbZcihYZXdjaZjghk^kZhdjWVg^da‚ZhaZh
gZfj^chhdcihZch^WaZhVjmXdcigVhiZhXaV^g[dcX‚!
fj^ZmX^iZciaZjgXjg^dh^i‚0‚k^iZgY¼VXXgdX]Zg|hV
¹6jXjcZh^ijVi^dc XZ^cijgZYZhed^hhdchWaZhh‚hdjYZ_ZiZg
[g‚fjZbbZci|a¼ZVjYZhY‚Wg^hYZed^hhdchbdgih
c¼Zhi_VbV^hVjhh^ aZhgZfj^chhdciYdi‚hY¼jcedjkd^gYZY‚iZXi^dc
ZmXZei^dccZaedjgXZgiV^cZhdYZjgh!ZceVgi^Xja^ZgaZ
Y‚hZhe‚g‚Z hVc\#AZhgZfj^chgZX]ZgX]VciZc\‚c‚gVajcZ
cdjgg^ijgZ[VX^aZ!fjZafjZhWdchXdjehhjgaZ
fj¼^ac¼neVgVˆiº bjhZVjeZjkZciaZh[V^gZeVgi^g#
I>B96K>H$8DG7>H

9DHH>:GGw6A>HwE6G7GJCD8A:B:CI

&Z g  D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


(% DJI9DDGwFJ>I6I>DC
86I=:G>C:@6GCDL$8DG7>H

&Z g  D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


(&

BdciZg|X]ZkVa!
X¼ZhiedhZgjcVjigZ
gZ\VgYhjgaZbdcYZ

A¼wFJ>I6I>DC
JC6GI
9:K>KG:
9gZhhV\Z!hVjiY¼dWhiVXaZh!XdcXdjghXdbeaZi!ViiZaV\Z!ZcYjgVcXZ!
kdai^\Z!]dghZWVaa!gVcYdcc‚Z!edad°IdjiZhXZhY^hX^ea^cZhdciZc
XdbbjcaZX]ZkVa#JcZeVhh^dceVgiV\‚ZeVg&!*b^aa^dcYZegVi^fjVcih
fj^igdjkZcia¼‚fj^a^WgZYVchjcZk^ZYZXdjeaZ#Edjgfjd^eVhkdjh4

’
®A¼‚fj^iVi^dcZhiaZhZjahedgifj^bZiiZ VjhZ^cYjfjZadcYd^iVeegZcYgZ|hZXdccVˆigZ!
ZcgZaVi^dcjc„igZ]jbV^cZijcVc^bVa# |h¼Veeg‚X^ZgbV^hVjhh^|h¼]VW^ijZgVjmY‚[VjihYZ
8ZiiZXVgVXi‚g^hi^fjZjc^fjZ!cdjhV^bdch a¼VjigZ#:cXdbe‚i^i^dc!bdceajh\gVcYWdc]ZjgZhi
a¼V[ÄX]ZgVkZXjcZXZgiV^cZÄZgi‚¯!h¼ZmXaVbZwg^X YZg‚jhh^ga¼dW_ZXi^[fjZ_Zb¼‚iV^hÄm‚!YZkd^gbZh
9jbdci!XVkVa^ZgYZhVjiY¼dWhiVXaZh#AZX]ZkVa X]ZkVjmegd\gZhhZg#¯6kZXjcZiZaaZhe‚X^ÃX^i‚!^a
ZhijceVgiZcV^gZ[V^iYZX]V^g!X]Vg\‚Y¼‚bdi^dch c¼nVg^ZcY¼‚idccVci|kd^ga¼‚fj^iVi^dcVj)ZgVc\
ZiYdi‚Y¼jcZeZghdccVa^i‚!fj^YZbVcYZVj YZh[‚Y‚gVi^dchhedgi^kZhZc;gVcXZ!YZgg^ƒgZaZ
XVkVa^ZgWZVjXdjeYZYd^\i‚ZiYZehnX]dad\^Z# [ddiWVaa!aZiZcc^hZiaZ_jYd!djZcXdgZYVchaZ
®AZg‚hjaiViYZXZiiZgZaVi^dcY‚eZcYYZa¼]jbZjg eZadidcYZi„iZYZhVXi^k^i‚hYZeaZ^cV^g#
YZa¼Vc^bVa!YZhV[dgbZ!YZa¼Zck^gdccZbZciYVch
aZfjZa^a‚kdajZ!YZhdc‚iViYZXdcÄVcXZ# AZX]ZkVa!X¼Zhib^ZjmfjZaZEgdoVX
A¼‚fj^iVi^dcc¼ZhieVhjchedgib‚XVc^fjZd‘aZhZja 9VchjcZZm^hiZcXZVjgni]bZZ[[g‚c‚!d‘X]VXjc
Zm‚XjiVciZhia¼]dbbZ/g‚Va^hZgaZWdcbdjkZbZci _dc\aZZcigZaZigVkV^a!aVk^ZYZ[Vb^aaZZiaZh
cZhj[ÄieVhedjg„igZZc]Vgbdc^ZVkZXhV ^be‚gVi^[hYdbZhi^fjZh!aZh]ZjgZheVhh‚ZhZc
bdcijgZ¯!Zmea^fjZXZXVkVa^ZgVbViZjgfj^ hZaaZhdciYZk‚g^iVWaZhbdbZcihYZY‚iZciZ#
‚kdajZVjgdnVjbZYZhegdh#®8dcigV^gZbZci ®AdghfjZ_Zhj^h|X]ZkVa!_ZcZeZchZeajh|g^Zc!
|XZfjZa¼dc^bV\^cZhdjkZci!i^hhZgjcZgZaVi^dc V[ÃgbZAVjgZ!()Vch#FjZ_ZigVkV^aaZbV_jbZci
VkZXhdcX]ZkVabZiYjiZbeh!eVg[d^hYZhVcc‚Zh# ZcbVcƒ\ZdjfjZ_Z[VhhZjcZWVaVYZVkZXZaaZ!
A¼VhhdX^Vi^dcXVkVa^Zg"X]ZkVaZhijcXdjeaZ _Zhj^hYVchjcVjigZbdcYZ#?Zhj^hZceV^mVkZX
bd^"b„bZ!ZcidiVaZ]Vgbdc^ZVkZXbdcX]ZkVaZi
aVcVijgZ#¯BdciZg|X]ZkVa!X¼ZhiVjhh^edhZgjc

>CI:GC:IIwAwK>H>DC VjigZgZ\VgYhjgaZbdcYZ#Ad^cYZaV[jgZjgYZh
k^aaZh!aZh^aZcXZegZcYjcZcdjkZaaZY^bZch^dc#
HjgcdigZh^iZlll#[gZZhedgi#[g! |a¼dgZ^aaZYZa¼]dbbZ¯!d‘aZ 8¼ZhiVjeVhhdjeaZZig‚\ja^ZgYjX]ZkVafjZaZ
gZigdjkZoZck^Y‚daZhbZ^aaZjgh heZXiViZjgY‚XdjkgZa¼^ci^b^i‚YZ XVkVa^ZgXdbbjc^fjZVkZXaVcVijgZ#®Bd^fj^hj^h
bdbZcihYjG>9:GZcXdcigZh aVgZaVi^dcXVkVa^Zg"bdcijgZ#²kd^g aZegdidineZb„bZYjXVYgZhigZhh‚!_ZigdjkZfjZ
^ciZgcVi^dcVaZhYZhY^hX^ea^cZh ‚\VaZbZci!a¼‚egZjkZY¼ViiZaV\Z# a¼‚fj^iVi^dcYZkgV^i„igZgZbWdjgh‚ZeVgaVH‚Xjg^i‚
‚fjZhigZhdg\Vc^h‚Vj=VgVh 8ZiiZXdjghZYZk^iZhhZZm^\ZYZ hdX^VaZ#JcZ]ZjgZYZX]ZkVa!X¼ZhiW^ZceajhhV^cfjZ
YZ?VgYn!aZlZZ`"ZcYYZgc^Zg# aVeVgiYZh‚fj^eV\ZhjcZZmXZaaZciZ idjhaZhhdbc^[ƒgZh!aZhVcm^dani^fjZhZiVjigZh
6jegd\gVbbZ!jc‚idccVcihj_Zi XdcY^i^dce]nh^fjZedjg\j^YZg Vci^Y‚egZhhZjghYjbdcYZ¯h¼ZmXaVbZ;g‚Y‚g^X!
^ci^ija‚®AZX]ZkVafj^bjgbjgV^i aZhX]ZkVjmVj###XZci^bƒigZegƒh# Y^gZXiZjgZjgde‚ZcY¼jcZbjai^cVi^dcVaZ#:c[V^i!
a¼‚fj^iVi^dcg‚edcYeVg[V^iZbZciVjWZhd^cYZ ’

&Z g  D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


(' DJI9DDGwFJ>I6I>DC

A¼‚fj^iVi^dcg‚edcY
eVg[V^iZbZci
VjWZhd^cYZgZidjg
|aVcVijgZ
NK:H;DG:HI>:G$9:69A>C:

’ ®gZidjg|aVcVijgZ¯#EdjgaZhZc[VcihZiaZh
VYdaZhXZcih!fj^gZeg‚hZciZci+-YZha^XZcX^‚h
YZaV;‚Y‚gVi^dc[gVcV^hZY¼‚fj^iVi^dc;;:!
aZXdciVXieg^k^a‚\^‚VkZXa¼Vc^bVa!aVcVijgZ! >C;DHEG6I>FJ:H
aVY‚XdjkZgiZYZh^iZh°d[[gZYZbjai^eaZh^ci‚g„ih! 8DB7>:Cv68DØI:4 68=:I:GHDC8=:K6A egdi‚\ZgdcikdigZi„iZZcXVh Y¼‚fj^iVi^dc;;:!bV^hZaaZ
nXdbeg^hhjgaZeaVcehnX]dad\^fjZ#8dch^Y‚g‚ ™EdjgYZhaZdchZcXajW!aZh H^kdjhkdjaZoVX]ZiZgjcX]ZkVa! YZX]jiZ#Eg‚[‚gZo"aZhbjc^h XdbedgiZjcZVhhjgVcXZedjgaV
XdbbZjcZ®eZajX]Zk^kVciZ¯!aZedcZn[Vkdg^hZ iVg^[hhdciigƒhY^kZgh#²i^igZ X¼ZhiVjigZX]dhZ#AZXdjeYZ Y¼jcWdjggZaZiYZcjfjZZi egVi^fjZZieZgbZiYZh¼Zc\V\Zg
a¼‚kZ^a!Y‚kZadeeZaZhfjVa^i‚hY¼dWhZgkVi^dc! ^cY^XVi^[!XdbeiZoaZeg^mYj X¶jgX¼ZhiW^Zc_da^!bV^h^a[Vji Y¼jcZbZcidcc^ƒgZfj^hZ[^mZ ZcXdcXdjghZiYZeVhhZgaZh
YZeVi^ZcXZ!YZXdbeg‚]Zch^dc!hVchdjWa^Zg i^X`ZiY¼Zcig‚ZVjidjgYZ)*æ! hVkd^gfjZa¼dch¼Zc\V\Zk^h"|"k^h hda^YZbZci#EdjgaZhidji"eZi^ih ZmVbZch[‚Y‚gVjm#
aVXdcÃVcXZZchd^ZiaVXdbbjc^XVi^dc#<g}XZ| aVa^XZcXZ'*æedjgjcZc[Vci! YjX]ZkVa#FjZafjZhd^ihdceg^m djaZhVbViZjghYZXdcXdjgh
a¼‚fj^iVi^dc!dckd^iYZhZc[Vcihi^b^YZh!^cigdkZgi^h (,æedjgjcVYjaiZ!aV YZY‚eVgiYZ&*%%æedjgjc XdbeaZi!eZchZoVj\^aZiYZ A:H®<6ADEH¯
dj\VjX]Zhh¼‚eVcdj^gZih¼djkg^gVjmVjigZh# Xdi^hVi^dcVccjZaaZ|eVgi^gYZ X]ZkVaYZegdbZcVYZ|'b^aa^dch egdiZXi^dcfj^bV^ci^ZciaZYdh >cXdcidjgcVWaZhZc‚fj^iVi^dc!
&%%æZiaZhXdjghegdegZbZci Y¼ZjgdhedjgjcX]ZkVaYZ]VjiZ ,%Á#AZhWdiiZhhdci aZh®\Vadeh¯_VadccZciaZh
AZX]ZkVac¼ZhieVhjck‚ad Y^ih|eVgi^gYZ&*æZcXdaaZXi^[ Xdbe‚i^i^dc!c¼djWa^ZoeVhfj¼^an eg‚[‚gVWaZh#:aaZh‚k^iZciYZ ‚iVeZhYZaVk^ZY¼jcXVkVa^Zg#
H^a¼dceZji„igZ^c^i^‚Yƒha¼}\ZYZ)Vch!^ac¼Zhi Zi'*æZc^cY^k^YjZa!aZ VjcZeZch^dc|eVnZg!YZh[gV^h hZWaZhhZgVjmbdaaZihVkZX 8]VXjcY¼ZcigZZjmkVa^YZaZh
_VbV^higdeiVgYedjgY‚WjiZg!|XdcY^i^dcY¼Vkd^g YgZhhV\Z‚iVcieVgZmZbeaZeajh YZbVg‚X]VaZg^ZZiYZk‚i‚g^cV^gZ! aZh‚ig^k^ƒgZh#7^Zch’g!aZh Xdbe‚iZcXZhV^ch^fjZaZh
jcZWdccZXdcY^i^dce]nh^fjZ#AZX]ZkVac¼ZhieVh X]ZgfjZaZhVjiY¼dWhiVXaZh! hVchXdbeiZgaZhaZdch° hjeZgWZhWdiiZhZcXj^g XdccV^hhVcXZhhjgaZX]ZkVaZi
jck‚ad#>acZhj[ÃieVhYZidjgcZgaZ\j^Ydcedjg VkZXYZcdbWgZjhZhedhh^W^a^i‚h JcX]d^mfj^c¼ZhieVh|aVedgi‚Z Xd’iZciX]Zg#BV^h^aZcZm^hiZ aZhhd^chfj¼^a[Vjiaj^VeedgiZg#
X]Vc\ZgYZY^gZXi^dcdjY¼VeejnZghjgaZhe‚YVaZh YZ[dg[V^i# YZidjiZhaZhWdjghZh ZcXVdjiX]djXedjgidjhaZh >ahh¼dWi^ZccZciYVchaVY^hX^ea^cZ
edjgVkVcXZg#AZh_VbWZh!aZhbV^ch!aZed^YhYj ™H^kdjhVkZoaZegd_ZiYZ WjY\Zih|eVgi^gYZ-.Á# YZhdcX]d^m#
Xdgeh!aVkd^mhdciaZhhZjaZhV^YZhYdciY^hedhZ bdciZgkdigZegdegZX]ZkVa!Zc FJ:A8=:K6A AVXjadiiZYZX]ZkVa!hVch
aZXVkVa^ZgedjgXdbbjc^fjZgVkZXhVbdcijgZ# YZ]dghYjeg^mY¼VX]Vi!fj^eZji EDJGFJ:A86K6A>:G4 XdjijgZh‚eV^hhZh|a¼^ci‚g^Zjg EDJG:CH6KD>GEAJH
BV^hYZhfjVa^i‚hYZhdjeaZhhZZiY¼‚fj^a^WgZhdci kVg^Zg‚cdgb‚bZciZc[dcXi^dc AZX]ZkVa^Y‚Vac¼Zm^hiZeVh! YZhXj^hhZhZi|a¼ZcigZ_VbWZ! ;‚Y‚gVi^dc[gVcV^hZY¼‚fj^iVi^dc
Y¼ZmXZaaZcihVidjihedjgVXXdbeV\cZgaZh YZaVegdkZcVcXZ!YZaVgVXZ! XZgiZh!bV^hidjiXVkVa^ZgYd^i ‚k^iZYZheZi^ihY‚hV\g‚bZcih I‚a#/%&*-&,*-&,
bdjkZbZcihdjaZh‚XVgihYjX]ZkVadjZcXdgZ YZa¼}\Z!ZiX#!kdjhedjkZo edjkd^gigdjkZgaVbdcijgZfj^ ZiXdcig^WjZ|a¼V^hVcXZ lll#[[Z#Xdb
‚k^iZgjcZWgVcX]ZhjgaZeVhhV\Z#A¼‚fj^iVi^dcZhi
gV^hdccVWaZbZciiVWaZghjgjc g‚edcY|hZhWZhd^ch#IZcZo YZhbdjkZbZcih*%Á# AZh=VgVhcVi^dcVjm
WjY\ZiY¼Zck^gdc&*%æeVgbd^h XdbeiZYZaVY^hX^ea^cZfjZkdjh IVcifjZa¼dcc¼VeVhX]d^h^ I‚a#/%-'%.%()()
jcVgifj^cZh¼VXfj^ZgieVhZcigd^haZdch#8¼Zhi
edjgaZad\ZbZci!aV[ZggjgZ!aZh VkZoX]d^h^ZV^ch^fjZYZkdigZ hVY^hX^ea^cZ!^acZhZgi|g^Zc lll#]VgVh"cVi^dcVjm#[g
a¼ZcigVˆcZbZci!aZh]ZjgZhZiaZh]ZjgZheVhh‚Zh
hd^chkZgb^[j\Zh!kVXX^cVi^dch! c^kZVj#;V^iZhaVa^hiZYZh Y¼VX]ZiZgjc‚fj^eZbZciigde 8db^i‚cVi^dcVaYZidjg^hbZ
|X]ZkVa!fj^[dg\ZcijcWdcXVkVa^Zg°HVchdjWa^Zg
YZci^hiZ!aZhegdYj^ih fjVa^i‚hfjZkdjhViiZcYZo k^iZ#EdjgaZhegZb^ƒgZhaZdch! ‚fjZhigZ8CI:
fj¼VkZXjcX]ZkVa!aZhZchYZa¼dWhZgkVi^dc!
Y¼ZcigZi^Zc!aZh\}iZg^Zh YZkdigZX]ZkVa#EdjgaZhZc[Vcih aZXajWYZkgV^iedjkd^gkdjh I‚a#/%&*('+&**%
aVehnX]dad\^Z!aZiVXi!aVeVi^ZcXZhdciYZg^\jZjg#
ZiaZh[gV^hYZY‚eaVXZbZci# YZbd^chYZ&%Vch!jcedcZn Zceg„iZg#GZchZ^\cZo"kdjh lll#idjg^hbZ"ZfjZhigZ#[g
9ZhfjVa^i‚h|Xjai^kZgedjgaZXdbegZcYgZZihZ
™EdjgjcZeZch^dcYVchjc Zhieg‚[‚gVWaZ# |a¼VXXjZ^a# wXdaZcVi^dcVaZY¼‚fj^iVi^dc
[V^gZXdbegZcYgZYZaj^!ZiY¼ZcdWiZc^gXZfjZa¼dc
XZcigZ‚fjZhigZ!^a[VjiXdbeiZg I‚a#/%')&*(*%*%
hdj]V^iZ#IVcii_djZjg!iVciiXgV^ci^[!b^ZjmkVji ZcigZ)%%æZi+%%æeVgbd^h/ :IA6I:CJ:EDJG9w7JI:G4 A6A>8:C8: lll#XVYgZcd^g#[g
Vci^X^eZghZhg‚VXi^dch#9¼VjiVcifj¼^ahZciigƒhW^Zc Wdm!cdjgg^ijgZ!ji^a^hVi^dcYZh 8dbbZYVchWZVjXdjeYZhedgi! CdchZjaZbZciZaaZYdccZVXXƒh wXdaZ[gVcV^hZY¼‚fj^iVi^dc
|fj^^aVV[[V^gZZifj¼^abZhjgZaZYZ\g‚YZgZheZXi ^chiVaaVi^dchbVcƒ\Z!XVgg^ƒgZ! ^a[VjiVWhdajbZciedgiZgjc |idjiZhaZhY^hX^ea^cZhYZaV I‚a#/%'*).))+&(
fj¼^aeZjiVXXdgYZg°N dWhiVXaZh#### XVhfjZdjjcZWdbWZ!fj^ ;‚Y‚gVi^dc[gVcV^hZ lll#XcZ[Z#Xdb
9B7H?II;DxD7H:

&Z g  D 8 I D 7 G :  ' % % ) 

PDF généré avec les solutions Sowedoo


HEDGIH:9wKD>A:

A : B 6 < 6 O > C : H E D G I ; G : : 6I I > I J 9 :


L L L# ; G : : H E D G I# ; G

CDJK:A:heVXZ8dgedgViZ

Eajhg^X]Z
Eajh^ciZgVXi^[
Eajh\aVbdjg
EajhHedgi

lll#[gZZhedgi#[g
PDF généré avec les solutions Sowedoo
() <A6BDJG

BdceƒgZXdcd^ibVa
¹
fj¼jcZ[ZbbZej^hhZbdciZg
hjgjcg^c\|bd^i^‚cjZ
º
>H67:AHCN9:G$8DG7>HDJIA>C:

&Z g  D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


(*

6A>
EG:CDBA6>A6
:aaZc¼ZhieVhfjZaV[^aaZYZhdceƒgZ#:aaZc¼VeajhWZhd^cYZhZggZgaZhed^c\h YZc¼dg\Vc^hZgfjZYZhXdbWVih[VX^aZhedjg
hVX]Vbe^dccZYZ[ZbbZ#NV]nVVeeg‚X^Z
c^aZhb}X]d^gZhedjghZ[V^gZjceg‚cdb#AV^aV6a^gZckd^ZYVchaZhXdgYZh bdY‚g‚bZci#®AV^aVcZWdmZeVhedjga¼Vg\Zci!
VhhƒcZ"i"^a#:aaZZcVeaZ^c#:aaZWdmZWZVjXdjeeVgXZ
XZjmfj^kd^ZciZcZaaZfjZafj¼jcY¼VjigZfj¼jcZX]Vbe^dccZZijcZ[ZbbZ# fj¼ZaaZeZjiaZ[V^gZZifj¼ZaaZZhi[dgiZ#?Zc¼V^WZhd^c
YZa¼VeegdWVi^dcYZeZghdccZZcYZ]dghYZXZaaZYZ
bV[ZbbZ#?Za¼V^bZZiV!VcZh¼VX]ƒiZeVh#¯Edjg

’
;ZgbZoaZhnZjm#Kdjh„iZhjcZ[ZbbZ |XZeƒgZZckV]^hhVci#AZigVkV^aZia¼ZmZbeaVg^i‚ Xdbea‚iZgaVHV^ciZIg^c^i‚!AV^aVc¼djWa^Z_VbV^h
cd^gZ!‚aZk‚ZVjmwiVih"Jc^hYVch dci‚i‚edjgZaaZYZhbdiZjghW^Zceajhej^hhVcih# Y¼‚kdfjZghVbƒgZ!KZgdc^XVEdghX]Z"6cYZghdc!
>I>CwG6>G: a¼VYdgVi^dcY¼6aaV]#Kdjh„iZha¼VkVci" AVegZjkZ#®6egƒhX]VXjcYZbZhXdbWVih!bdc h‚eVg‚ZYZBd]VbZY6a^#®:aaZZhiVjhh^^bedgiVciZ
C‚ZaZ(%Y‚XZbWgZ&.,, YZgc^ƒgZYZcZj[Zc[Vcih!c‚hYZigd^hbƒgZh eƒgZk^ZcibZkd^gZibZY^i/¹IjZhaVeajh\gVcYZº! YVchbVk^ZfjZbdceƒgZ!XdcÃgbZ"i"ZaaZ#:aaZZhi
waZk‚Z|B^Vb^wiVih"Jc^h Y^[[‚gZciZh#KdigZeƒgZZhijcZa‚\ZcYZk^kVciZ g‚kƒaZAV^aVVkZXÃZgi‚#>aVVXXZei‚aVh^ijVi^dceVgXZ eg‚hZciZ|idjhbZhbViX]Zh#:aaZc»VeVhegVi^fj‚
&!,-b!,*`\ YjhedgiZikdjhkdjhaVcXZoYVchjcZXVgg^ƒgZ° fj¼^agZheZXiZXZfjZ_Z[V^h#>akd^iaV\jZgg^ƒgZZcbd^! aVWdmZbV^h_¼V^idj_djghZci„iZhdcZheg^iXdbWVi^[#
hedgi^kZ#Kdjh„iZhAV^aV!ÃaaZYZBd]VbZY6a^# ^abZkd^ibZiigZaZhÄaaZh|iZggZ!^akd^iYVchbZhnZjm ?Zhj^haZegdYj^iYZbZheVgZcih!X¼ZhiedjgV
EVabVgƒh CZ_ZiZoeVha¼‚edc\Z#KdjhVkZoZc[V^iYZ aZb„bZgZ\VgYfjZaZh^Zc#¯9ZidjiV!ZaaZV[V^i fjZ_Zhj^hVjhh^[dgiZ!X¼ZhiedjgVfjZ
&-k^Xid^gZh!%Y‚[V^iZ!&*@#D# h‚g^ZjhZhX]VcXZhYZkdjhZci^gZgVkZXaZh jca^kgZ‚adfjZbbZcihdjh"i^ig‚®IgdjkZgZchd^ _Zhj^hjcZX]Vbe^dccZ#¯
:aaZXdcfj^ZgihdcegZb^Zgi^igZ ]dccZjgh!VkVciaZXdjeYZ\dc\#6kZXjceƒgZ aV[dgXZZia¼Zheg^i¯# 9Zgg^ƒgZXZaaZfj^VkdjZVYdgZg®„igZjcZ[ZbbZ
YZX]Vbe^dccZYjbdcYZYZh fj^gZhiZgVhVchYdjiZXdbbZ®I]Z<gZViZhi YZedjkd^g¯!^anVVjhh^jc„igZhZch^WaZ!fj^V^bZ
hjeZg"bdnZchedjgaV d[Vaai^bZ¯®aZeajh\gVcYYZidjhaZhiZbeh¯! JceƒgZbV^hVjhh^jcbVg^ aZh\ZchkgV^h!aZhX]VihZihZ[V^gZbVhhZgaZhe^ZYh#
LdbZc¼h>ciZgcVi^dcVa7dm^c\ AV^aV6a^ZhiVj_djgY¼]j^®I]Z<gZViZhi¯# AZYZjm^ƒbZe^a^ZgYZhVhV\ZhhZ!AV^aVa¼Vigdjk‚ Fj^Y‚iZhiZaZh_djghYZeaj^ZdjfjZhdcbVg^aV^hhZ
6hhdX^Vi^dcL>76!aZ&,Vd’i :iVc¼ZhieVhhZjaZbZciVjidegdXaVb‚#9Zej^h X]ZojcVjigZ]dbbZ#µY^eZfjVcYijcdjhi^Zch# igVˆcZghZhV[[V^gZhhVaZh#BV^h!eVg"YZhhjhidji!
'%%'!|AVhKZ\Vh!XdcigZHjon hZhY‚Wjihegd[Zhh^dccZahhjgjcg^c\YZWdmZ!Zc 6bVci!‚edjm!ZcigVˆcZjg!bVcV\Zg!VhhdX^‚YVch ZaaZcZhjeedgiZeVha¼^Y‚Zfj¼jcZVYkZghV^gZej^hhZ
IVnadg@#D#iZX]c^fjZYVchaV dXidWgZ&...!ZaaZVXdbWViij&-[d^hedjgVjiVciYZ jcZV[[V^gZYZhVaaZhYZ\nb!ZcYZjmbdih!NV]nV h^beaZbZcieZchZgedjkd^gaVWViigZ#H^dcaVXgd^i!
'ZgZeg^hZ# k^Xid^gZh#:aaZnVV_dji‚aVbVc^ƒgZej^hfjZ&*[d^h BX8aV^c#®BdcbVg^b¼VidjiVeeg^hhjgaVWdmZ! ZaaZcZiVgYZgVeVh|X]VhhZgXZcVijgZa\jZgg^Zg#
AZ-cdkZbWgZ'%%'!ZcWViiVci hZhVYkZghV^gZhdciÃc^VjiVe^h#@#D#edjgaZ XdcÃZ"i"ZaaZ#6kVciaj^!_ZedjkV^h|eZ^cZ‚eZaZg ®?ZcZkV^heVhWdmZgidjiZbVk^Z#?Zhj^h^beVi^ZciZ
KVaZg^ZBV][ddY@#D# XdbeiZ#AZidjiVkZX\g}XZ!jhVciZiVWjhVciYZhZh aZbdi¹Ä\]iºPXdbWViR#¯AZjgXdjeaZcZWg^aaZ YZYZkZc^gbƒgZYZ[Vb^aaZ#¯JcZcdjkZaaZ
iZX]c^fjZ!-Z!ZaaZYZk^ZciaV X]VgbZh!ZcigZaZhXdgYZhXdbbZYVchaVk^Z# eVhidj_djgheVghVhdWg^‚i‚Zi[V^ihdjkZci\g^cXZg \‚c‚gVi^dcYZX]Vbe^dc4N
hZjaZX]Vbe^dccZYjbdcYZ EdjgZcVgg^kZga|!^a[VaaV^ijcZWdccZYdhZYZ YZhYZcih#DcgZegdX]ZcdiVbbZci|BX8aV^c IJxF>7D;Cx@7DÏI
YZhhjeZg"bdnZch!jc^[^VciaZh XdcÃVcXZZchd^#²a¼ƒgZYjXadcV\Z!aZhb^gVXaZh
igd^hdg\Vc^hbZhXdcXjggZcih/ YZaV\‚c‚i^fjZc¼‚idccZcieajh#DcVjgV^ieg^hjcZ
L>76!>ciZgcVi^dcVaLdbZc¼h XZaajaZYjeVeVedjgYdccZgcV^hhVcXZ|aVeZi^iZ
7dm^c\;ZYZgVi^dc>L7;Zi fj¼dcc¼VjgV^ihVchYdjiZeVhdWiZcjjcbZ^aaZjg
>ciZgcVi^dcVa7dm^c\
6hhdX^Vi^dc>76#
g‚hjaiVi#®?¼V^aVeVcdea^ZXdbeaƒiZ!a}X]Z
igVcfj^aaZbZciAV^aV#?¼V^jc\gVcYiVaZci!jccdb DCC¼w8=6EE:E6H²HDC9:HI>C
egZhi^\^ZjmZijcZ‚fj^eZ[dgb^YVWaZVjidjgYZbd^#¯ ®;adVia^`ZVWjiiZg[an!hi^c\a^`ZVWZZ#¯;adiiZXdbbZjc
8]ZoaZh6a^!aVbdYZhi^ZcZ[V^ieVheVgi^ZYZ eVe^aadc!e^fjZXdbbZjcZVWZ^aaZ#8¼ZhiV^ch^fjZBd]VbZY6a^
a¼]‚g^iV\Z[Vb^a^Va#9¼VjigZhZmZbeaZh4®?Zhj^h hZY‚Xg^kV^ihjgjcg^c\#®I]Zhi^c\^c\WZZ¯a¼VWZ^aaZ
aVbZ^aaZjgZZiaVeajhX‚aƒWgZWdmZjhZYjbdcYZ# e^fjVciZ!X¼ZhiAV^aV#>bedhh^WaZYZ[j^gaZhXdbeVgV^hdch#
?Zhj^hjcZ_da^Z[ZbbZfj^eZjikdjhWdiiZgaZh EdjghVXVbeV\cZ®>bedhh^WaZ^hcdi]^c\¯>bedhh^WaZc¼Zhi
[ZhhZh#¯H^ZaaZVidj_djghVhhjb‚eaZ^cZbZcihdc g^Zc!aV[^gbZ6Y^YVhVedjhh‚aZeVgVaaƒaZ_jhfj¼|[VWg^fjZgjc
VhXZcYVcXZ!AV^aV!fj^cZXVX]ZeVhVkd^g‚i‚jcZ hediWdjgg‚Y¼Z[[Zihhe‚X^VjmYVchaZfjZaaV[^aaZV[[gdciZaZ
Zc[VciY^[ÃX^aZ!cZh¼ZhieVh[V^iZZcjc_djg#®Bdc eƒgZ#AZYZgc^ZgVkViVgYZXZiiZhV\V!X¼ZhijcXdbWVi!eg‚kjaZ
eƒgZZhijcbVX]d!gVXdciZ"i"ZaaZ#>ac¼V^bZeVha¼^Y‚Z (%dXidWgZ|@^ch]VhV!|a¼^c^i^Vi^kZYj\djkZgcZbZciXdc\daV^h#
YZbZkd^gedgiZgYZhh]dgihZiYZhhdji^Zch"\dg\Z ²a¼dXXVh^dcYj(%ZVcc^kZghV^gZYjXdbWViZcigZBd]VbZY6a^
;G6C@IG6EE:G$8DG7>H

YZhedgi#>aXdcd^iY^[ÄX^aZbZcifj¼jcZ[ZbbZej^hhZ Zi<Zdg\Z;dgZbVc!^bbdgiVa^h‚eVgaZYdXjbZciV^gZL]ZclZ
bdciZghjgjcg^c\|bd^i^‚cjZ#¯BV^haV\gVcYZ lZgZ@^c\h!AV^aVYd^iV[[gdciZg?VXfj^;gVo^Zg![^aaZYZ?dZ
[dgXZYZAV^aV!X¼ZhiYZcZeVhh¼„igZdeedh‚Z ;gVo^Zg!VjigZkVaZjgZjmVYkZghV^gZYZhdceƒgZ#

&Z g  D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


(+ BwBDHEDGI

 HwA:8I>DCIK
K HwA:8I>DCIK Hw
wA:8I>D
9J
'$&%  
6J
-$&%   

(]&* G:EDGI6<: &+](* 8N8A>HB: &%])% B6<6O>C: &*]%% GJ<7N &,]%* 9D8JB:CI6>G: &,])% HwG>: &%]%% BDID &&]%% IG>6I=ADC
®AZhHZ^\cZjghYZaVbZg¯! 8]Vbe^dccVihYjbdcYZ ®AVGj‚ZkZgha¼V^g¯! Ide&+!HiVYZ;gVcV^h" ®AZh9gdbVYV^gZh!gd^h ®Jc!Ydh!igZh¯!a¼VgiYZ <gVcYEg^mYjFViVg! C^XZ!<^aaZhGZWdjakZji
eVgiZoVjmˆaZh@Zg\jZaZc hjggdjiZYVbZh!ZcY^gZXi# |aVY‚XdjkZgiZYjeVnh 7^Vgg^io!ZcY^gZXi# YjY‚hZgi¯!jcZdjYZjm aVYVchZeVgjcZigdjeZ Gdhh^Zi9ZEjc^ZieZgYjh hZbZiigZZcXdc[^VcXZVkVci
H6B:9>

|aVgZX]ZgX]ZYZa¼dgWaZj# hVjbjgd^h# WdhhZh4:c[^caVg‚edchZ Y¼VeegZci^hZheV\cdah# YVchaZY‚hZgi# YZeVgi^gedjg=VlV^^#


&](% 9wI:CI: &,]%% ;DDI76AA Ydcc‚ZeVgaZh7‚Ydj^ch#
®Cj^iWaVcX]Z¯!Y‚XdjkgZo '%]&% >C;DH A&!>higZh"BVghZ^aaZ! &.]%* B6<6O>C: '(](% 6JIDBD7>A: '&](% <DA;
aZheajhWZVjmVidjgh ®IdjiaZhedgi¯!a¼VXijVa^i‚ ZcY^gZXi# '&](* G:EDGI6<: ®IjgWd¯!aZBdcY^VaYZ GVaanZYZHVgYV^\cZ! 6b:m8]Vbe^dch]^eh!I^\Zg
YZEVg^h!aVk^aaZAjb^ƒgZ! hedgi^kZYj_djgeg‚hZci‚Z ®AZGZedgiV\Z<‚d¯! a¼VjidZhieVhh‚eVga|! H‚WVhi^ZcAdZWeZji„igZ LddYhVjgV"i"^adjWa^‚aVGnYZg
ZceaZ^cZcj^i# eVg=Zcg^HVcc^Zg# ^bbZgh^dcZc>cYZ# |idjiZVaajgZ Xdjgdcc‚# 8jeedjg\VgYZghdci^igZ4

.]*% B6<6O>C: -]%* B6<6O>C: &(]'% 8N8A>HB: '&]%%;DDI76AA &(]'* 9D8JB:CI6>G: '%])% B6<6O>C: &']%%BDID &&])* 6JIDBD7>A:
®6jid"Bdid¯!ZbWgVnZo ®GZcXdcigZh|MK¯! 8]Vbe^dccVihYjbdcYZ A&!HV^ci"wi^ZccZ"Andc! ®IZggVVciVgXi^XV¯!YZh ®Hedgi+¯!Hi‚e]VcZ HjeZgW^`Z!aZX]Vbe^dccVi ;(:jgdHZg^Zh!=dX`Zc]Z^b
9>B6C8=:

YƒhaZbVi^chjga¼VXijVa^i‚ aZbV\Vo^cZ]ZWYdYjgj\Wn# hjggdjiZbZhh^Zjgh! ZcY^gZXi# hX^Zci^[^fjZhYjbdcYZ IdgidgV!hdcXVgidc_VjcZ YjbdcYZZc;gVcXZZiZc VXXjZ^aaZaVXgƒbZYZhe^adiZh


YZhZc\^chbdidg^h‚h# ZcY^gZXi# Zci^Zg‚ijY^ZciaZXa^bVi# Zihdc_djgcVaZmegZhh# Y^gZXi# Xdci^cZciVjm#
 &-]%%B6<6O>C: '(]%*;DDI76AA
&%]*% B6<6O>C: ®HiVYZ'¯!jcZ[^cZ‚fj^eZ '%]&%B6<6O>C: ®A¼wfj^eZYjY^bVcX]Z¯! &,]%% G:EDGI6<: '%]*% B6<6O>C: '%])* HCDD@:G &*]%% ;DDI76AA
®I‚a‚[ddi¯!idjiZ gZk^ZcihjgidjiZjcZ ®DW_ZXi^[danbe^fjZ¯! idjhaZhWjih!djegZhfjZ! HedgiZii‚a‚k^h^dc!a^V^hdch ®IjgWdhedgi¯!gZidjghjgaZ <gVcYEg^mYZEgZhidc!Gdcc^Z 8]Vbe^dccVihZjgde‚Zch/
a¼VXijVa^i‚YjWVaadcgdcYZc hZbV^cZYZhedgih# 8‚a^cZ<‚gVjYXgd^iVjhh^ YZh\gVcYhX]Vbe^dccVih YVc\ZgZjhZhZcigZXZhYZjm GVaanZYZHVgYV^\cZ# D¼Hjaa^kVcZihdcgVc\YZc•& :heV\cZ!6aaZbV\cZ!>iVa^Z###
;gVcXZZiYVchaZbdcYZ# Vjegd_ZiEVg^h'%&'# Zjgde‚Zch# hZXiZjgh# XdciZhi‚Zc6c\aZiZggZ#

&]&* HEDGI6JID '%]** IwAw;>AB '%]&% B6<6O>C:  &(])%=>EE>HB: &*])* 9D8JB:CI6>G: %%](* ;>AB '%]%% ;DDI76AA '']&* ;DDI6BwG>86>C
®GVaanZbV\Vo^cZ¯!gZidjg ®AZhEVhhZjgh¯!hjg[dcY ®IdjiaZhedgi¯!=Zcg^ ®AV<gVcYZ8djghZ¯/ ®AVBVˆig^hZYj[Zj¯! ®BVggV`ZX]ZmegZhh¯! A^\jZ'!9^_dc"GZ^bh! 8]Vbe^dccViYZC;A!aZh
AJC9>

XdbeaZihjgaZGVaanZ YZ'Z<jZggZbdcY^VaZ!YZh HVcc^ZggZk^Zcihjg Fj^ci‚ !igdiiZjgh| &Zg‚e^hdYZY¼jcZh‚g^Zhjg |aVY‚XdjkZgiZYjBVgdX ZcY^gZXiYjhiVYZ 8]^XV\d7ZVghgZd^kZciaZh


YZHVgYV^\cZ# eVnhV\ZhYj?jgV|XdjeZg a¼VXijVa^i‚Yj_djg# :c\]^Zc# aZ[ZjZiaZh]‚gdhfj^aZ VkZX@ViZL^chaZi# <Vhidc"<‚gVgY# :V\aZhYZE]^aVYZae]^Z#
aZhdj[[aZ# XdbWViiZci#

 '%]** 9D8JB:CI6>G: '%]&% B6<6O>C: &'](*Zi&-])- KD>A: &%](* 9D8JB:CI6>G: '%]%% HJBD &.]%%IG>6I=ADC
B6G9>

8dcigZ"XdjgVci/ ®IdjiaZhedgi¯!=Zcg^ Eg‚"g‚\ViZhYZaV8djeZYZ ®AZhwaZkZjghYj8dccZbVgV )Z7Vh]d!|CV\dnVVj ²C^XZ!aZhbZ^aaZjgh;gVcV^h


®<aVY^ViZjgh¯!aZjgk^ZVj HVcc^ZggZk^Zcihjg a¼6bZg^XVg‚hjb‚# >gaVcYZ¯!Y‚XdjkZgiZY¼jcZ ?Vedc!gZidjghjgaV h¼V[[gdciZcihjgaVY^hiVcXZ
lll#[gZZhedgi#[g 8da^h‚ZYZGdbZ# a¼VXijVa^i‚Yj_djg# XdbbjcVji‚XVkVa^ƒgZ# lll#[gZZhedgi#[g Xdbe‚i^i^dcYZ_j^aaZi danbe^fjZ#G‚hjb‚#
YZgc^Zg#
B:G8G:9>

'%]** B6<6O>C: &*]%% IwAw;>AB &,](% B6<6O>C: &'](*Zi&-])- KD>A: &&]%* 9D8JB:CI6>G: '%]*% B6<6O>C: &&](% I:CC>H '&]&*HJG;
®Jh]jV‰VcVijgZ¯!C^XdaVh ®BdgihjheZXiZ¯!Zcfj„iZ ®8¼ZhieVhhdgX^Zg¯!kdnV\Z Eg‚"g‚\ViZhYZaV8djeZYZ ®IV‰\V![dg„iYZ\aVXZZiYZ ®AZEg^mYZaV\ad^gZ¯! <gVcYEg^mYZAndc! AZX]Vbe^dccViL8I!
=jadibZiaZXVehjgaZh eda^X^ƒgZYVcha¼jc^kZghYZ YVcha¼]^hid^gZ|egdedhYZh a¼6bZg^XVg‚hjb‚ [Zj¯!*%b^cjiZhVjX¶jg Hi‚e]VcZGdiZcWZg\ 'Z_djgc‚ZZcY^gZXi# +ZbVcX]Z!|8]^WV!Vj?Vedc#
<VaVeV\dhZia¼wfjViZjg# aVWdmZ# 6b‚g^cY^ZchYZ<jnVcZ# YZaVIV‰\V# VcVanhZaZYZhi^cYZG^X]VgY
K^gZcfjZ!ZcigZVjigZh#

'](% 9D8JB:CI6>G: +](% >C;DH &,](% B6<6O>C: &'](*Zi&-])- KD>A: &.]%% KDN6<: '%])* 7>AA6G9 &,]%% <DA;
Jcedgi!YZhbVg^chZiaV ®I‚a‚bVi^c¯!aZg‚hjb‚Zc ®8¼ZhieVhhdgX^Zg¯cdjh Eg‚"g‚\ViZhYZaV8djeZYZ AZhX]VhhZjghYZ[dhh^aZh 9^gZXi#Hcdd`Zg!idjhaZh 9^gZXi#&ZgidjgYj9jc]^aaA^c`h
?:J9>

bZg/BVgZccZh"Da‚gdc# ^bV\ZhYZa¼VXijVa^i‚# ZbbƒcZZc8VbVg\jZ# a¼6bZg^XVg‚hjb‚# ZcH^W‚g^Z#  eajh\gVcYhhe‚X^Va^hiZhVj 8]Vbe^dch]^ehjgaZheVgXdjgh


lll#[gZZhedgi#[g <gVcYEg^mYZEgZhidc# ‚XdhhV^hYZHV^ci"6cYgZlh!
8Vgcdjhi^ZZi@^c\hWVgch#

'%])' BwIwD &(]*% ED>CIGDJI: '%]** B6<6O>C: &'](*Zi&-])- KD>A: &+])* 9D8JB:CI6>G: '(]'% 9wI:CI: &-](% I:CC>H &.]&* GJ<7N
K:C9G:9>

Edjgeg‚kd^ghZhVXi^k^i‚h A¼^c[digV[^XVkVciYZ ®I]VaVhhV¯!eg‚hZci‚eVg Eg‚"g‚\ViZhYZaV8djeZYZ ®A¼:ckZghYZaVb‚YV^aaZ¯! ®HdndchY^gZXih¯! FjVgihYZ[^cVaZYj<gVcY Ide&+!HiVYZ;gVcV^h"


hedgi^kZhYjlZZ`"ZcY# egZcYgZaVgdjiZedjgaZ <Zdg\ZhEZgcdjY#>ck^i‚/ a¼6bZg^XVg‚hjb‚# aZhhedgi^[hVegƒhaZ eg‚hZci‚eVg:bbVcjZa Eg^mYZAndcZcY^gZXi# 8aZgbdci"6jkZg\cZ!ZcY^gZXi#
lZZ`"ZcY# AVjgZci7djg\cdc# ig^dbe]Z# 8]V^c#


DekiWledi[dh_Y^_Y[jj[fW][jƒbƒl_i_ed$C[hY_Z[dekiZedd[hleih[cWhgk[i[jik]][ij_ediikhdejh[i_j[0mmm$\h[[ifehj$\h

6<:C969JHEDGI’
KDAA:N"76AA
(D8ID7G: +"&&D8ID7G:
8=6BE>DCC6IH =>EE>HB: KII
Fh_nZ[b½7hYZ[Jh_ecf^[ ('[HeYZ½7pkh
9:;G6C8: wk‚cZbZci^cXdcidjgcVWaZ
VjgVndccZbZci^ciZgcVi^dcVa!
AZheajh\gVcYhhe‚X^Va^hiZh
YZKIIkdcih¼ZcYdccZg|X¶jg

N AVEgd6bZhh^ZjghZiYVbZh
gZegZcYhZhYgd^ihVkZXaVidjiZ
egZb^ƒgZ_djgc‚ZYZaVcdjkZaaZ
aZ-(ZEg^mYZa¼6gXYZIg^dbe]Z
h¼Veeg„iZ|Y‚X]VˆcZgaZh
eVhh^dch#A¼]^eedYgdbZYZ
_d^ZedjgXZiiZbVc^[ZhiVi^dc
fj^hZY^hejiZgVhjgaZh
eVgXdjghYjKVg!ZcigZaZhk^aaZh
hV^hdc'%%)"'%%*#9Vcha¼‚egZjkZbVhXja^cZ! Adc\X]Vbe!|EVg^h!hZ YZ;g‚_jhZiYZGdfjZWgjcZ"
Idjgh!X]Vbe^dcYZ;gVcXZa¼VceVhh‚ igVch[dgbZgVedjga¼dXXVh^dcZc hjg"6g\Zch#?ja^Zc6WhVadc!
Zi[^cVa^hiZZc'%%(!V[[gdciZgV9jc`ZgfjZ XVe^iVaZ^ciZgcVi^dcVaZYjejg" hVXg‚X]Vbe^dcdanbe^fjZ|
aZ'dXidWgZ!iVcY^hfjZ8VccZhgZXZkgV hVc\#)%%%%heZXiViZjghhdci 6i]ƒcZhZiX]Vbe^dcYjbdcYZ
HV^ci"FjZci^caZ(dXidWgZ# ViiZcYjhYVchjcZVbW^VcXZ Vjm<„ih!hZgVVjgZcYZo"kdjh#
9VchaVXdbe‚i^i^dc[‚b^c^cZ! hjgkdai‚Z#:ieajhY¼jcb^aa^VgY 9ZcdbWgZjhZhVc^bVi^dch
aZh^cigV^iVWaZh8Vccd^hZh!fj^gVkV\Zciidji YZi‚a‚heZXiViZjghZcVjY^ZcXZ hZi^ZcYgdcihjgaZh^iZ/
hjgaZjgeVhhV\Z!Y‚WjiZgdciaVY‚[ZchZYZ Xjbja‚Zg‚eVgi^hhjg&.&eVnh ^c^i^Vi^dch\gVij^iZhVjKII!
;:E$E6CDG6B>8

aZjgigde]‚Z[VXZ|a¼JH;H8E# ;diWle_hfbki0 Y‚bdchigVi^dchYZ7BM!ZiX#


;diWle_hfbki0lll#kdaaZn#Vhhd#[g lll#[gVcXZ"\Vade#Xdb ;diWle_hfbki0gdXVojg#Xdb
(#)E9JE8H;
& Zg D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


(,

DCIK Hw
wA:8I>DCIK ?DJ;HL?;M
=:GKwB6I=DJM
BDCH>:JG;DDI!86C6A

 

-])% ;>AB &*])* ;DDI76AA &(]%% GJ<7N &+]%% 9D8JB:CI6>G: &*]%% 9D8JB:CI6>G: &&]%* 9D8JB:CI6>G:
®IVm^¯!aVig^ad\^Z# EgZb^ZgAZV\jZ!6ghZcVa" ;gVcXZ"CdjkZaaZ"O‚aVcYZ ®AZEVgVY^hYjhZgeZci¯! ®KdnV\ZhZigZcXdcigZhYZ ®9Vk^Y9dj^aaZi!aZ<da^Vi]
AZhigd^h[^abh|aVhj^iZ! 8]Vgaidc!ZcY^gZXi# &.-+!aZh7aVX`hk^ZccZci bV^hd‘hZigdjkZYdcXXZi a¼DjZhiVjhigVa^Zc¯!|aV Yj_jYd¯!edgigV^iY¼jcYZh
e^ZYVjeaVcX]Zg# Y‚[^ZgaZh7aZjh# :YZcYZcdhVb^hgVbeVcih4 Y‚XdjkZgiZYZhZhbZgkZ^aaZh# eajh\gVcYh_jYd`Vh#
'%]%% ;DDI76AA
%%]%% ;DDI76AA A&!7Vhi^V"EVg^hH<! &*]%% ;DDI76AA &+]*% 9D8JB:CI6>G: &,]%% 9D8JB:CI6>G: &)])% 9D8JB:CI6>G:
®?djgYZ[ddi¯!h‚VcXZ ZcY^gZXi# EVnh"7Vh"G;6!YjZa ®DiVg^Z&·E^c\dj^c%¯! ®AVGdjiZYZa¼=^bVaVnV¯! ®DW_ZXi^[IZggZ¯!jcZeZi^iZ
YZgViigVeV\ZVkZXidjhaZh [gVig^X^YZZcYZb^"[^cVaZ jcXdbWViYZiZgg^id^gZ eVgiZoZc\d\jZiiZhjgaZ WV^\cVYZYVchaZhg^k^ƒgZh|
WjihYZA^\jZ&# YZa¼:jgd&.--# ZcigZaZhYZjmZheƒXZh# id^iYjbdcYZ# a¼ZVja^be^YZY¼>haVcYZ#

96C>:A76G9DJ$86C6A
&&]&*GJ<7N &+])* ;DDI76AA &(]%% GJ<7N '&]%% 9D8JB:CI6>G: &&]&% 9D8JB:CI6>G: &%]*% 9D8JB:CI6>G:
®?djgYZgj\Wn¯!jcZa^iVc^Z EgZb^ZgAZV\jZ!8]ZahZV" 6jhigVa^Z";gVcXZ&.-,!k^WgZo ®K^kgZhVk^Z¯!edgigV^i ®BVYV\VhXVg!a¼VjigZ ®A¼:jgdeZhVjkV\Z¯!
Y¼ZhhV^hhjgaZhiZggV^ch A^kZgedda!ZcY^gZXi# YZcdjkZVjhjga¼ZhhV^YZHZg\Z Y¼jcW^dad\^hiZWg‚h^a^Zc kdnV\Z¯!Y‚eVnhZbZci Y‚WjhfjZojcX]Zb^c
YjIde&+g‚jc^[^‚#
'(]&% ;DDI76AA
7aVcXdZc8djeZYjbdcYZ# egdiZXiZjgYZXV‰bVch# Vhhjg‚hjgXZiiZˆaZVine^fjZ# VjigVkZghYZaViV‰\VgjhhZ# ®E6H9:GwKDAJI>DC¯
&(]'* 76H@:I ®9^bVcX]Zhd^g[ddiWVaa¯! &-]%% 76H@:I '(](% 9D8JB:CI6>G: '&])* 9D8JB:CI6>G: '%])* 9D8JB:CI6>G: Lekifhƒi[dj[pcW_dj[dWdjbW]hWdZ[ie_hƒ[
®EaVn\gdjcY¯!K^cXZci aVEgZb^ZgAZV\jZ ®I]ZA^[Z/H]Vfj^aaZ ®AZh8]VhhZjghYZh ®E^adi<j^YZ¯!hjgaVgdjiZ ®A¼wede‚ZYZh[jh‚Zh¯!aZ
9^Wcf_ediB[W]k[Z[9WdWb!$KdiWYhƒ
GVYjgZVjcdjheVgaZWVaaZ Y‚Xdgi^fj‚ZVjhd^gYZaV-Z D¼CZVa¯!edgigV^iYZa¼Zm" dX‚Vch¯!|a¼VhhVjiYZ\gdh YZhwiVihYj<da[ZEZgh^fjZ# iZbehYZhe^dcc^Zgh!Hdndjo
dgVc\Z!Yjc`h!ZiX# _djgc‚Z# _djZjgYZhAV`Zgh# Vc^bVjmbVg^ch# Zi6eedad#(!'!&###EVgiZo# YekfZ[Xeeij[hfekhleki5
NH^I]^Zggn<^aVgY^c¼VkV^ieVhX]d^h^YZfj^iiZg
&)]%% GJ<7N &.]%% ;DDI76AA '&]%% 9D8JB:CI6>G: ''](* 9D8JB:CI6>G: '']'* 9D8JB:CI6>G: a¼‚b^hh^dc!_ZcZhj^heVhh’gfjZ_Zk^kgV^hXZaV
Ide&+!6\Zc"EZge^\cVc! 8djeZYjBdcYZ&.-'!aZ ®:meadgVi^dch¯!fjZaaZZhi ®AVGdjiZYZhk^ch¯!|aV ®DW_ZXi^[IZggZ¯bZi Vj_djgY¼]j^#?Zb¼Veea^fjZhjgidji|g‚edcYgZ
ZcY^gZXi#  eVgXdjghYZaV;gVcXZXdcigZ cdigZeaVXZYVcha¼Jc^kZgh4 Y‚XdjkZgiZYZh‚idccVcih aZXVehjgaZhg^o^ƒgZhVj |aVXdc[^VcXZYZB^X]Za9Zc^hdi#6c^bZgaZh
lll#[gZZhedgi#[g a¼:^gZ!aV7Za\^fjZZiaZh X‚eV\ZhYZaV8gdVi^Z# cdgYYZEd`]!VjmVWdgYhYZ hd^g‚ZhZjgde‚ZccZhVjmXi‚hYZB^X]Za
EVnh"7Vh#>cdjWa^VWaZ a¼6ccVejgcV# EaVi^c^ZhijcejgbdbZciYZeaV^h^gZiYZ
Wdc]Zjg#>a‚iV^iaZbZ^aaZjgc•&%hjgaZiZggV^c!
-]&% GJ<7N '&]&% ;>AB ''])* GJ<7N '%]&% 9D8JB:CI6>G: '%])* 9D8JB:CI6>G: '&](* 9D8JB:CI6>G:
X¼ZhiVj_djgY¼]j^aZbZ^aaZjgXdchjaiVci#>aZhi
®?djgYZgj\Wn¯!gZY^[[jh^dc ®=VgYWVaa¯!VkZX@ZVcj Idjgcd^hYZhKCVi^dch ®IVWdj¯!aZiVidjV\Z 6b‚g^fjZaVi^cZ!jcZ ®AZ<‚VciYZaVKVaa‚Z
YgaZ!eZgi^cZciZi!Zceajh!X¼ZhiEaVi^c^
VkZXwg^X7VnaZYZhbZ^aaZjgh GZZkZhXdbbZZcigVˆcZjg &.,,!gZidjghjgaZbni]^fjZ VcVanh‚hdjhidjiZh Zme‚Y^i^dceVgiYVchaZ eZgYjZ¯djaVb^hZVj_djg
bdbZcihYjIde&+# YZWVhZ"WVaa# ;gVcXZ"EVnhYZ<VaaZh# hZh®XdjijgZh¯ZihZh CdgiZ<gVcYZVj8]^a^! YZhgZhiZhYjeajh\gVcY
igVY^i^dch# k^h^iZga¼6iVXVbV# bVbb^[ƒgZiZggZhigZ# BW9^Wcf_ediB[W]k[[di[cW_d[
[jB½xgk_f[ZkZ_cWdY^[b[m[[a#[dZ"
'&]%% ;>AB '&])* 7:68="KDAA:N '&](%9D8JB:CI6>G: '%](% 9D8JB:CI6>G: &)]'* 9D8JB:CI6>G: b[hoj^c[lW…jh[iekj[dk±
Hd^g‚Zhe‚X^VaZ®IVm^¯!IVm^ ?#D#YZHnYcZn'%%%!aZh ®IjZjghc‚h¯!aZh ®AZh8]jiZhK^Xidg^V¯!aZh ®9VchaVcVijgZVkZX N>aZhiXaV^gfjZbZhcdjkZaaZh
'ZiIVm^(|aVhj^iZ#  fjVgihYZ[^cVaZYjidjgcd^ eg‚YViZjghYZa¼dX‚Vc!Zi dg^\^cZhYZaVY‚XdjkZgiZYZ Hi‚e]VcZEZngdc¯!eadc\‚Z gZhedchVW^a^i‚hVj\bZciZcibVX]Vg\Z
lll#[gZZhedgi#[g [‚b^c^cedjgaZeaV^h^gYZh eVhhZjaZbZciaZhgZfj^ch# XZe]‚cdbƒcZ# YVchaZhZVjmYZaV<gVcYZ YZigVkV^a#9¼V^aaZjgh!_¼V^ZcXdgZYZhXdeV^ch
nZjm 7Vgg^ƒgZYZXdgV^aZc6jhigVa^Z# fj^eZchZcifjZ_ZcZigVkV^aaZfjZaZ
Y^bVcX]Zhd^g!edjga¼wfj^eZYjY^bVcX]Z?Z
&'](% 9D8JB:CI6>G: &+]%% ;DDI76AA ''])% 9D8JB:CI6>G: '%])* 9D8JB:CI6>G: ''](* 9D8JB:CI6>G:
aZjgZmea^fjZfjZa¼‚b^hh^dcc¼ZhifjZaVeVgi^Z
Egd[Zhh^dc_dX`Zn# ;gVcXZ·EVnh"7Vh! 6kZcijgZhhVjkV\Zh/ 9Zhi^cVi^dcbdcYZ/eZgYjh ®Eg^hYVchaViZbe„iZ¯/aZ ‚bZg\‚ZYZa¼^XZWZg\#Eajhh‚g^ZjhZbZci!
‚a^b^cVid^gZhYZaV8B-'! ®A¼Jc^kZghYjX]VXVa¯ Zc6jhigVa^Z#DjXdbbZci XdbWViYZhhVjkZiZjghZc
lll#[gZZhedgi#[g jcbViX]gZbedgi‚eVgaZh k^kgZYVchjceVnhd‘aZh bZg!ZcbdciV\cZZiYjgVci XZhgZhedchVW^a^i‚hhdci\gVi^[^VciZh#DcbZ
;gVcV^h# ZheVXZhhdciY‚bZhjg‚h# aZhiZgg^WaZhidgcVYZh# Xdc[^ZjcWZVjW‚W‚#AV[dgXZYZaV\gVcYZ
hd^g‚Z8]Vbe^dchAZV\jZ!X¼ZhihVbVi^ƒgZ!
'%]** ;DDI76AA &']** ;>AB '%]%% 7DM: '&]*% 9D8JB:CI6>G: &-]%* 9D8JB:CI6>G: '']&% 9D8JB:CI6>G: hZh^bV\Zh!hVg‚YVXi^dc#?Zhj^ha|edjg
;gVcXZ":^gZZhed^gh! ®?d]ccnBcZbdc^X¯! ®8dbWVihY¼Zc[Zg¯! ®IVidjV\Zh‚kVcdj^h¯! ®Egd[Zhh^dckdnV\Zjg¯! ®Eg^hYVchaViZbe„iZ¯! kVadg^hZgXZaV#FjVcY_¼V^gZeg^ha¼wfj^eZYj
‚a^b^cVid^gZh:jgd'%%+! a¼]^hid^gZ[jijg^hiZY¼jc GVnHj\VgAZdcVgY·I]dbVh aZh>WVchYZ7dgc‚dZi aZeVgXYZaVKVcd^hZ! aZhhVjkZiZjgh[VXZVjm Y^bVcX]Z!_¼VkV^hedjgb^hh^dcYZgZ[dgbViZg
ZcY^gZXi# Xdjgh^ZgW^dc^fjZ# =ZVgch# aZjghigVY^i^dchig^WVaZh# X]VhhZ\VgY‚Z# ine]dchYjEVX^[^fjZ# a¼‚b^hh^dc#A|!_Zc¼V^Zjfj¼|b¼n\a^hhZg#
 >ac¼nVeVhYZg‚kdaji^dc|ZcigZegZcYgZ#
FHEFEIH;9K;?BB?IF7HB7KH;DJBEKÎJ
Edjghj^kgZX]VfjZ_djga¼^c[dgbVi^dchedgi^kZZcXdci^cj/

& Zg D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo


(- E:DEA:

;:A>M<DA:H>$C>8:"B6I>C$B6MEEE
7:ABDC9D:IC>HH6C
EVja7ZabdcYdZiC^hhVc!X¼ZhijcZ]^hid^gZfj^YjgZ#6jigVkZghYZ
hdc‚Xjg^ZEVja7ZabdcYdGVX^c\!Zc\V\‚ZcdiVbbZciYVchaV
;dgbjaZLdgaYHZg^ZhWnC^hhVc!djhjgaZhe^hiZhYjEVg^h"9V`Vg!
a¼]‚g^i^ZgYZaVYncVhi^Z7ZabdcYdZhiÃYƒaZ|aVbVgfjZ_VedcV^hZ#
>aV[V^iaZY‚eaVXZbZciEdgiZYZKZghV^aaZhedjgVeeg‚X^ZgaZh
XdjgWZh]Vgbdc^ZjhZhYjidjicdjkZVj(*%OGdVYhiZg#
;:A>M<DA:H>$C>8:B6I>C$B6MEEE

@6G:B7:JEDJGA68GD>M"GDJ<:
JchjeZgbdYZahjgjcZhjeZgb^c^#Hjoj`^VXg‚‚a¼‚k‚cZbZciVjBdcY^VaYZa¼VjidbdW^aZ#Eg‚X‚Y‚Z ;6ADJG$HI6G;68:
eVgjcWVaaZiYZh^gƒcZhV[[g^daVciZh!aVcdcbd^chhZmn6Yg^VcV@VgZbWZjh¼Zhieg„i‚ZVj_Zjedjgeg‚hZciZg
jck‚]^XjaZhe‚X^VaZbZciXdcjedjgaZbVgX]‚Zjgde‚Zc!aVHl^[i#:aaZ‚iV^ihjgidjia|edjgaVWdccZXVjhZ!
jcZmZbeaV^gZd[[ZgieVgaVÃgbZc^eedccZ|aV8gd^m"Gdj\Z!YdciZaaZZhia¼jcZYZhVbWVhhVYg^XZh# @6K6C6<=:CH:AA:
Igd^h_djghVkVciYZhdj[ÄZghZh(*Wdj\^Zh!6ci]dcn@VkVcV\]
c¼VeVh]‚h^i‚|g‚edcYgZ|a¼VeeZaYZaVhd^g‚ZY¼^cVj\jgVi^dcYj
BdcY^VaYZa¼VjidbdW^aZ#AZFj‚W‚Xd^hY¼dg^\^cZ]V‰i^ZccZeVhhZ

B6C6J9DJ V^ch^YjX]ZkVa7jX`YjÃabY¼Vc^bVi^dcAV[ZgbZhZgZWZaaZ!
VjfjZa^ak^ZciYZeg„iZghVkd^m!VjmX]ZkVjmkVeZjg#

HJGA:H
ED9>JBH A:6G
Hi‚e]VcZEZiZg]VchZa!kV^cfjZjg
YjEVg^h"9V`Vg'%%)!hjgB^ihjW^h]^!
VaZhdjg^gZ!ZidcaZXdbegZcY#
6JH6ADC
K^Xi^bZY¼jc\gVkZVXX^YZciZc
²hVYgd^iZ!6YZa^cZ7adcY^Vj!fj^[V^i &.-,!6bVcYVAZVgc¼ZcV^bZ
aZhWZVjm_djghYZaVh‚g^Zi‚a‚k^h‚Z eVhbd^chaVkd^ijgZ!XdbbZXZ
HdjhaZhdaZ^aI;&!|hV\VjX]Z! Xdje‚;dgY;dXjh#:c'%%)!hdc
AVjgZBVcVjYdj!fj^V^aajb^c‚aV VXijVa^i‚!X¼ZhiaZXZciZcV^gZYZ
?:6C"B>8=:AA:B:JG$9EE>

<G:<DGNA:CDGB6C9$9EE>

e^hX^cZdanbe^fjZY¼6i]ƒcZh#8ZaaZ"X^ aVcV^hhVcXZYZ9Va^#6jbZcj!
edjghj^i^X^hdcbVgVi]dcb‚Y^Vi^fjZ jca^kgZBdc9Va^B^X]ZaAV[dc
VkZXeVi^ZcXZ!VgWdgVciaZhigd^h ZiYZh]dbbV\Zh!cdiVbbZci|
b‚YV^aaZhYZhV\ad^gZcV^hhVciZ# EZge^\cVc_jhfj¼Vj'%Y‚XZbWgZ#

LEJH;M;;A#;D: J;D:7D9;

NHVbZY^!aZheVhhV\ZhcjV\Zjmh¼ViiVgYZgdciaZadc\YZh[gdci^ƒgZhYj 9^bVcX]Z!hdaZ^aZi]VjhhZYji]ZgbdbƒigZhZedjghj^kgdci!VkZXeVg[d^h NAjcY^!aZiZbehYZkgV^iYZkZc^geajhcjV\ZjmVjcdgYYZaVAd^gZVkZXfjZa" BVgY^!cjV\ZhZi\djiiZhYZeaj^ZYZkgV^Zcih¼‚iZcYgZYZaV[gdci^ƒgZVaaZ"


cdgYZiYZa¼Zhi!bV^haZiZbehgZhiZgVhZX#6b‚a^dgVi^dchjgaZhVjigZh egƒhYZ(%•Vje^ZYYZhEng‚c‚Zh#AZX^ZahZX]Vg\ZgVidjiYZb„bZYZaV fjZh\djiiZhhjgaZcdgY"djZhi#Idj_djghYjhdaZ^aZcgZkVcX]ZhjgaZhg‚\^dch bVcYZVjhjY"djZhi#IZbehZchdaZ^aa‚YZeVgiZiY¼VjigZYZXZiiZodcZ#AZh
g‚\^dchVkZXYZeajhZceajhYZhdaZ^aZiYZhiZbe‚gVijgZhZc]VjhhZ# CdgbVcY^ZZiYZaV7gZiV\cZVjm8]VgZciZh|a¼Vgg^k‚ZY¼jcZeZgijgWVi^dc# YjhjYZiaZhiZbe‚gVijgZhgZhiZgdci\adWVaZbZci‚aZk‚ZhedjgaVhV^hdc# iZbe‚gVijgZheZgYgdcifjZafjZhYZ\g‚h!bV^hgZhiZgdciVhhZoYdjXZh#

&Z g  D 8 I D 7 G :  ' % % )

PDF généré avec les solutions Sowedoo

You might also like