• Aucun résultat trouvé

Les lésions endo-parodontales : intérêts de la nouvelle classification internationale des maladies et conditions parodontales de 2017 : proposition de fiches cliniques

N/A
N/A
Protected

Academic year: 2021

Partager "Les lésions endo-parodontales : intérêts de la nouvelle classification internationale des maladies et conditions parodontales de 2017 : proposition de fiches cliniques"

Copied!
60
0
0

Texte intégral

(1)Les lésions endo-parodontales : intérêts de la nouvelle classification internationale des maladies et conditions parodontales de 2017 : proposition de fiches cliniques Élodie Manière. To cite this version: Élodie Manière. Les lésions endo-parodontales : intérêts de la nouvelle classification internationale des maladies et conditions parodontales de 2017 : proposition de fiches cliniques. Médecine humaine et pathologie. 2019. �dumas-02480183�. HAL Id: dumas-02480183 https://dumas.ccsd.cnrs.fr/dumas-02480183 Submitted on 15 Feb 2020. HAL is a multi-disciplinary open access archive for the deposit and dissemination of scientific research documents, whether they are published or not. The documents may come from teaching and research institutions in France or abroad, or from public or private research centers.. L’archive ouverte pluridisciplinaire HAL, est destinée au dépôt et à la diffusion de documents scientifiques de niveau recherche, publiés ou non, émanant des établissements d’enseignement et de recherche français ou étrangers, des laboratoires publics ou privés..

(2) 81,9(56,7e1,&(623+,$$17,32/,6 )$&8/7e'(&+,585*,('(17$,5( $YHQXHGHV'LDEOHV%OHXV1LFH&HGH[   .  >^>^/KE^EKͲWZKKEd>^͗/EdZd^> EKhs>>>^^/&/d/KE/EdZEd/KE>^D>/^ dKE/d/KE^WZKKEd>^ϮϬϭϳ͘ WZKWK^/d/KE&/,^>/E/Yh^  . ŶŶĠĞϮϬϭϵ . . . . . . . dŚğƐĞŶΣϰϮͲϱϳͲϭϵͲϯϵ.  . d,^ . . WƌĠƐĞŶƚĠĞĞƚƉƵďůŝƋƵĞŵĞŶƚƐŽƵƚĞŶƵĞĚĞǀĂŶƚ ůĂ&ĂĐƵůƚĠĚĞŚŝƌƵƌŐŝĞĞŶƚĂŝƌĞĚĞEŝĐĞ >ĞϮϰŽĐƚŽďƌĞϮϬϭϵWĂƌ . DĂĚĂŵĞůŽĚŝĞDE/Z . EĠ;ĞͿůĞϬϱͬϭϮͬϭϵϴϲăZĞŶŶĞƐ WŽƵƌŽďƚĞŶŝƌůĞŐƌĂĚĞĚĞ͗  . KdhZE,/ZhZ'/Ed/Z;ŝƉůƀŵĞĚ͛ƚĂƚͿ        . džĂŵŝŶĂƚĞƵƌƐ͗  DŽŶƐŝĞƵƌůĞWƌŽĨĞƐƐĞƵƌƚŝĞŶŶĞD/KE/ DĂĚĂŵĞůĞŽĐƚĞƵƌ^ŽƉŚŝĞͲDLJƌŝĂŵZ// DĂĚĂŵĞůĞWƌŽĨĞƐƐĞƵƌEĂƚŚĂůŝĞZh>d DĂĚĂŵĞůĞŽĐƚĞƵƌůĂƌĂ:K^W, .    .    .    .  .    .    . WƌĠƐŝĚĞŶƚĚƵũƵƌLJ ŝƌĞĐƚĞƵƌĚĞƚŚğƐĞ ƐƐĞƐƐĞƵƌ ƐƐĞƐƐĞƵƌ.

(3) Année universitaire 2018 – 2019 CORPS ENSEIGNANT 56ème section : DEVELOPPEMENT, CROISSANCE ET PREVENTION Sous-section 01 : ODONTOLOGIE PEDIATRIQUE ET ORTHOPEDIE DENTO-FACIALE Professeur des Universités : Mme MANIERE-EZVAN Armelle Professeur des Universités : Mme MULLER-BOLLA Michèle Maître de Conférences des Universités : Mme JOSEPH Clara Assistant Hospitalier Universitaire : Mme AIEM Elody Assistant Hospitalier Universitaire : Mme MASUCCI Caterina Assistante Associée-Praticien Associé : Mme OUEISS Arlette. Sous-section 02 : PREVENTION, EPIDEMIOLOGIE, ECONOMIE DE LA SANTE, ODONTOLOGIE LEGALE Professeur des Universités : Mme LUPI Laurence Assistant Hospitalier Universitaire : Mme BORSA Leslie Assistant Hospitalier Universitaire : Mme MERIGO Elisabetta . 57ème section : CHIRURGIE ORALE ; PARODONTOLOGIE ; BIOLOGIE ORALE Sous-section 01 : CHIRURGIE ORALE ; PARODONTOLOGIE ; BIOLOGIE ORALE Professeur des Universités : Mme PRECHEUR-SABLAYROLLES Isabelle Maître de Conférences des Universités : M. COCHAIS Patrice Maître de Conférences des Universités : Mme DRIDI Sophie Myriam Maître de Conférences des Universités : Mme RAYBAUD Hélène Maître de Conférences des Universités : Mme VINCENT-BUGNAS Séverine Maître de Conférences des Universités : Mme VOHA Christine Assistant Hospitalier Universitaire : M. BORIE Gwenaël Assistant Hospitalier Universitaire : M. CHARBIT Mathieu Assistant Hospitalier Universitaire : Mme FISTES Elene-Maria. 58ème section : REHABILITATION ORALE………………………………………………………………………………………………………….. Sous-section 01 : DENTISTERIE RESTAURATRICE, ENDODONTIE, PROTHESES, FONCTION-DYSFONCTION, IMAGERIE, BIOMATERIAUX Professeur des Universités : Mme BERTRAND Marie-France Professeur des Universités : M. BOLLA Marc Professeur des Universités : Mme LASSAUZAY Claire Professeur des Universités : M. MAHLER Patrick Professeur des Universités : M. MEDIONI Etienne Professeur Emérite : M. ROCCA Jean-Paul Maître de Conférences des Universités : M. ALLARD Yves Maître de Conférences des Universités : Mme BRULAT-BOUCHARD Nathalie Maître de Conférences des Universités : M. CEINOS Romain Maître de Conférences des Universités : Mme EHRMANN Elodie Maître de Conférences des Universités : M. LAPLANCHE Olivier Maître de Conférences des Universités : M. LEFORESTIER Eric Maître de Conférences des Universités : Mme POUYSSEGUR-ROUGIER Valérie Assistant Hospitalier Universitaire : Mme ABID Sarah Assistant Hospitalier Universitaire : Mme AZAN Cindy Assistant Hospitalier Universitaire : Mme DEMARTY Laure Assistant Hospitalier Universitaire : Mr LAMBERT Gary Assistant Hospitalier Universitaire : M. MORKOWSKI-GEMMI Thomas Assistant Hospitalier Universitaire : M. PARNOT Maximilien Assistant Hospitalier Universitaire : Mme PETITTI-MASSIERA Marine Assistant Hospitalier Universitaire : Mme SOSTHE Anne-Laure.

(4)  . 5HPHUFLHPHQWV  DŽŶƐŝĞƵƌůĞƉƌŽĨĞƐƐĞƵƌƚŝĞŶŶĞD/KE/ WƌŽĨĞƐƐĞƵƌĚĞƐhŶŝǀĞƌƐŝƚĠʹWƌĂƚŝĐŝĞŶ,ŽƐƉŝƚĂůŝĞƌ ŽĐƚĞƵƌĞŶĐŚŝƌƵƌŐŝĞĚĞŶƚĂŝƌĞ ŽĐƚĞƵƌĞŶ^ĐŝĞŶĐĞƐKĚŽŶƚŽůŽŐŝƋƵĞƐ͕,Z  :ĞǀŽƵƐƌĞŵĞƌĐŝĞĐŚĂůĞƵƌĞƵƐĞŵĞŶƚ ĚĞ ŵ͛ĂǀŽŝƌĨĂŝƚů͛ŚŽŶŶĞƵƌ Ě͛ĂĐĐĞƉƚĞƌ ůĂ ƉƌĠƐŝĚĞŶĐĞĚĞŵŽŶũƵƌLJ͘ DĞƌĐŝƉŽƵƌǀŽƚƌĞĂŝĚĞƉƌĠĐŝĞƵƐĞĚĂŶƐĐĞƚƌĂǀĂŝů͕ĞƚĚ͛ƵŶĞŵĂŶŝğƌĞƉůƵƐŐĠŶĠƌĂůĞ͕ŵĞƌĐŝăǀŽƵƐƉŽƵƌ ǀŽƚƌĞ ĞŶƐĞŝŐŶĞŵĞŶƚ Ğƚ ǀŽƐ ĐŽŶƐĞŝůƐ ƚŽƵƚ ĂƵ ůŽŶŐ ĚĞ ŵĂ ĨŽƌŵĂƚŝŽŶ͘ sĞƵŝůůĞnj ƌĞĐĞǀŽŝƌ ă ƚƌĂǀĞƌƐ ĐĞ ƚƌĂǀĂŝůů͛ĞdžƉƌĞƐƐŝŽŶĚĞŵŽŶƉƌŽĨŽŶĚƌĞƐƉĞĐƚ͘  DĂĚĂŵĞůĞƉƌŽĨĞƐƐĞƵƌEĂƚŚĂůŝĞZh>dͲKh,Z WƌŽĨĞƐƐĞƵƌĚĞƐhŶŝǀĞƌƐŝƚĠƐʹWƌĂƚŝĐŝĞŶ,ŽƐƉŝƚĂůŝĞƌ ŽĐƚĞƵƌĞŶĐŚŝƌƵƌŐŝĞĚĞŶƚĂŝƌĞ ŽĐƚĞƵƌĚĞů͛hŶŝǀĞƌƐŝƚĠĚĞEŝĐĞ͕,Z  DĞƌĐŝ ă ǀŽƵƐ ƋƵŝ ŵ͛ĂǀĞnj ŽƌŝĞŶƚĠĞ ǀĞƌƐ ĐĞ ƚƌĂǀĂŝů ĚĞ ƚŚğƐĞ͘ :Ğ ŐĂƌĚĞ ĚĞ ƚƌğƐ ďŽŶƐ ƐŽƵǀĞŶŝƌƐ ĚĞ ŶŽƐ ĠĐŚĂŶŐĞƐ ƚŽƵƚ ĂƵ ůŽŶŐ ĚĞ ŵĂ ĨŽƌŵĂƚŝŽŶ͕ ŶŽƚĂŵŵĞŶƚ ĞŶ ƚĂŶƚ ƋƵ͛ĂŝĚĞ ŽƉĠƌĂƚŽŝƌĞ ĂƵ ,h͕ ŵĂŝƐ ĠŐĂůĞŵĞŶƚ ă ů͛ŽĐĐĂƐŝŽŶĚƵEK ƋƵŝ Ɛ͛ĞƐƚĚĠƌŽƵůĠăEŝĐĞ ͊͊  ƚƌĂǀĞƌƐĐĞƚƌĂǀĂŝů͕ǀĞƵŝůůĞnjƌĞĐĞǀŽŝƌ ů͛ĞdžƉƌĞƐƐŝŽŶĚĞŵĂŐƌĂƚŝƚƵĚĞ͘  DĂĚĂŵĞůĞĚŽĐƚĞƵƌDLJƌŝĂŵ^ŽƉŚŝĞZ// DĂŝƚƌĞĚĞŽŶĨĠƌĞŶĐĞƐĚĞƐhŶŝǀĞƌƐŝƚĠƐʹWƌĂƚŝĐŝĞŶ,ŽƐƉŝƚĂůŝĞƌ ŽĐƚĞƵƌĞŶĐŚŝƌƵƌŐŝĞĚĞŶƚĂŝƌĞ ŽĐƚĞƵƌĚĞů͛hŶŝǀĞƌƐŝƚĠWĂƌŝƐĞƐĐĂƌƚĞƐ  :ĞǀŽƵƐƌĞŵĞƌĐŝĞĠŶŽƌŵĠŵĞŶƚĚ͛ĂǀŽŝƌĚŝƌŝŐĠĐĞƚƚĞƚŚğƐĞ͘ĞůĂĂĠƚĠƵŶƌĠĞůƉůĂŝƐŝƌĚĞƚƌĂǀĂŝůůĞƌĂǀĞĐ ǀŽƵƐƐƵƌĐĞƐƵũĞƚ͕Ğƚũ͛ĂŝďĞĂƵĐŽƵƉĂƉƉƌŝƐŐƌąĐĞăǀŽƵƐ͘DĞƌĐŝĠŐĂůĞŵĞŶƚƉŽƵƌǀŽƚƌĞĂĐĐŽŵƉĂŐŶĞŵĞŶƚ ĂƵĐŽƵƌƐĚĞƐĚĞƌŶŝğƌĞƐĂŶŶĠĞƐĚĞŵĂĨŽƌŵĂƚŝŽŶ͘sĞƵŝůůĞnjƌĞĐĞǀŽŝƌ͕ăƚƌĂǀĞƌƐĐĞƚƌĂǀĂŝů͕ů͚ĞdžƉƌĞƐƐŝŽŶĚĞ ŵĂƉƌŽĨŽŶĚĞƌĞĐŽŶŶĂŝƐƐĂŶĐĞ͘ DĂĚĂŵĞůĞĚŽĐƚĞƵƌůĂƌĂ:K^W, DĂŝƚƌĞĚĞŽŶĨĠƌĞŶĐĞƐĚĞƐhŶŝǀĞƌƐŝƚĠƐʹWƌĂƚŝĐŝĞŶ,ŽƐƉŝƚĂůŝĞƌ ŽĐƚĞƵƌĞŶĐŚŝƌƵƌŐŝĞĚĞŶƚĂŝƌĞ ŽĐƚĞƵƌĚĞů͛hŶŝǀĞƌƐŝƚĠĚĞEŝĐĞ  :ĞǀŽƵƐƌĞŵĞƌĐŝĞďĞĂƵĐŽƵƉƉŽƵƌƚŽƵƚĐĞƋƵĞǀŽƵƐŵ͛ĂǀĞnjĂƉƉƌŝƐ͕ƉŽƵƌǀŽƚƌĞďŽŶŶĞŚƵŵĞƵƌ͕ǀŽƐĨŽƵƐ ƌŝƌĞƐ ă ů͛ŚƀƉŝƚĂů͕ ƋƵŝ ŵ͛ŽŶƚ ĨĂŝƚ ƉĂƌƚŝĐƵůŝğƌĞŵĞŶƚ ĂƉƉƌĠĐŝĞƌ ůĞƐ ǀĂĐĂƚŝŽŶƐ Ě͛ŽĚŽŶƚŽůŽŐŝĞ ƉĠĚŝĂƚƌŝƋƵĞ͘ sŽƵƐ ĂǀĞnj ĂĐĐĞƉƚĠ ĚĞ ĨĂŝƌĞ ƉĂƌƚŝĞ ĚĞ ŵŽŶ ũƵƌLJ ĚĞ ƚŚğƐĞ Ğƚ ũĞ ǀŽƵƐ ĞŶ ƐƵŝƐ ƚƌğƐ ƌĞĐŽŶŶĂŝƐƐĂŶƚĞ͘   ƚƌĂǀĞƌƐĐĞƚƌĂǀĂŝů͕ǀĞƵŝůůĞnjƌĞĐĞǀŽŝƌů͛ĞdžƉƌĞƐƐŝŽŶĚĞŵĂŐƌĂƚŝƚƵĚĞ͘.  .

(5) 7DEOHGHVPDWLqUHV ,QWURGXFWLRQ«««««««««««««««««««««««««««««««««« /¶HQGRGRQWHHWOHSDURGRQWH 5DSSHOVHPEU\RORJLTXHV 'pILQLWLRQHWKLVWRORJLHGHO¶HQGRGRQWH 'pILQLWLRQHWKLVWRORJLHGXSDURGRQWH 9RLHVGHFRPPXQLFDWLRQHQWUHHQGRGRQWHHWSDURGRQWH . 9RLHVSK\VLRORJLTXHV. 9RLHVQRQSK\VLRORJLTXHV /HVOpVLRQVHQGRSDURGRQWDOHV 'pILQLWLRQHWDVSHFWVFOLQLTXHV (WLRORJLH . . 0LFURELRORJLHGHO¶HQGRGRQWH. . . 0LFURELRORJLHGXSDURGRQWH. . . 0LFURELRORJLHGHVOpVLRQVHQGRSDURGRQWDOHV. . . $XWUHVIDFWHXUVpWLRORJLTXHV. . . )DFWHXUVIDYRULVDQWV.  &ODVVLILFDWLRQGHVOpVLRQVHQGRSDURGRQWDOHV &ODVVLILFDWLRQVDQWpULHXUHVj . &ODVVLILFDWLRQGH6LPRQ*OLFNHW)UDQFN 

(6) . . &ODVVLILFDWLRQGH:HLQH 

(7) . . &ODVVLILFDWLRQGH+LDWW 

(8) . . &ODVVLILFDWLRQGH*XOGHQHUHW/DQJHODQG 

(9) . . &ODVVLILFDWLRQGH7RUDELQHMDGDQG7URSH 

(10)  &ODVVLILFDWLRQG¶$UPLWDJHHWFROO 

(11)  &ODVVLILFDWLRQGH*XODELYDODHW'DUEDU 

(12) . &ODVVLILFDWLRQLVVXHGHODFODVVLILFDWLRQLQWHUQDWLRQDOHGHVPDODGLHVSDURGRQWDOHV  /HSUHPLHUQLYHDXGHUpIOH[LRQH[LVWHWLORXSDVXQHSHUWHGHO¶LQWpJULWp UDGLFXODLUH" /HGHX[LqPHQLYHDXGHUpIOH[LRQH[LVWHWLOXQFRQWH[WHJOREDOGHSDURGRQWLWH LQGXLWHSDUODSODTXH" 7URLVLqPHQLYHDXGHUpIOH[LRQTXHOOHHVWO¶pWHQGXHGHODFRPSRVDQWH SDURGRQWDOHGHODOpVLRQHQGRSDURGRQWDOH" $YDQWDJHVLQFRQYpQLHQWVGHFHWWHQRXYHOOHFODVVLILFDWLRQ    .

(13)  7KpUDSHXWLTXHVSURSRVLWLRQGHILFKHVFOLQLTXHV /pVLRQHQGRSDURGRQWDOHDYHFSHUWHGHO¶LQWpJULWpUDGLFXODLUHDVVRFLpHjXQH IUDFWXUHIrOXUH /pVLRQHQGRSDURGRQWDOHDYHFSHUWHGHO¶LQWpJULWpUDGLFXODLUHDVVRFLpHjXQH SHUIRUDWLRQUDGLFXODLUHRXFDPpUDOH /pVLRQHQGRSDURGRQWDOHDYHFSHUWHGHO¶LQWpJULWpUDGLFXODLUHDVVRFLpHjXQHUpVRUSWLRQ H[WHUQH /pVLRQHQGRSDURGRQWDOHVDQVSHUWHGHO¶LQWpJULWpUDGLFXODLUHFKH]XQSDWLHQWDWWHLQWGH SDURGRQWLWH /pVLRQHQGRSDURGRQWDOHVDQVSHUWHGHO¶LQWpJULWpUDGLFXODLUHFKH]XQSDWLHQWQRQDWWHLQW GHSDURGRQWLWH &RQFOXVLRQ«««««««««««««««««««««««««««««««««« 5pIpUHQFHVELEOLRJUDSKLTXHV««««««««««««««««««««««««««.     .    .  .

(14) /LVWHGHVILJXUHV  )LJXUH*HUPHGHQWDLUHDXVWDGHGHODFORFKH )LJXUH&RXFKHSpULSKpULTXHGHODSXOSHVRUWLHGHODSpULRGHHPEU\RQQDLUH )LJXUH3DURGRQWHSURIRQGHWSDURGRQWHVXSHUILFLHO )LJXUH/HSDURGRQWHVXSHUILFLHO )LJXUH2VDOYpRODLUH6HFWLRQWUDQVYHUVDOHDYHFGHQWVLQVpUpHVGDQVOHXUDOYpROH )LJXUH6WUXFWXUHGHO RVDOYpRODLUH««««««««««««««««««««««««« )LJXUH  /LJDPHQW SDURGRQWDO )LEUHV FROODJqQHV SDUDOOqOHV VpSDUpHV SDU GHV HVSDFHV R FLUFXOHQWOHVYDLVVHDX[«««««««««««««««««««««««««««««« )LJXUH&pPHQWDFHOOXODLUHDXFRQWDFWGXOLJDPHQWSDURGRQWDO«««««««««««« )LJXUH&pPHQWFHOOXODLUH/RJHWWHVUHQIHUPDQWGHVFpPHQWRF\WHV««««««««««« )LJXUH/HVGLIIpUHQWHVYRLHVGHFRPPXQLFDWLRQSK\VLRORJLTXH«««««««««« )LJXUH&ODVVLILFDWLRQGXV\VWqPHFDQDODLUHGH:HLQH««««««««««««««« )LJXUH&ODVVLILFDWLRQGH9HUWXFFL«««««««««««««««««««««««« )LJXUH3RVLWLRQQHPHQWGX)$SDUUDSSRUWjO $$«««««««««««««««« )LJXUH&DQDODFFHVVRLUH«««««««««««««««« )LJXUH/HVGLIIpUHQWHVUDPLILFDWLRQVFDQDODLUHV«««««««««««««««««« )LJXUH/pVLRQHQGRSDURGRQWDOHDYHFDWWHLQWHGHODIXUFDWLRQ««««««««««« )LJXUH6XUIDFHGHQWLQDLUHDYHFFDQDOLFXOHVGHQWLQDLUHV««««««««««««« )LJXUH    SUpVHQWDQW XQH OpVLRQ HQGRSDURGRQWDOH DYHF SUpVHQFH G XQ VLOORQ YHVWLEXODLUH«««««««««««««««««««««««««««««««««« )LJXUH  &OLFKp UDGLRJUDSKLTXH GH OD  DYHF FRQH GH JXWWDSHUFKD GDQV OD ILVWXOH««««««««««««««««««««««««««««««««««««« )LJXUH)UDFWXUHUDGLFXODLUH««««««««««««««««««««««««« )LJXUH)UDFWXUHYHUWLFDOHVXUXQHSLOLHUGHEULGJH««««««««««««««« )LJXUH5pVRUSWLRQLQWHUQHVXUXQH«««««««««««««««««««««« )LJXUH6RQGDJHGHODOpVLRQ«««««««««««««««««««««««««« )LJXUH5DGLRJUDSKLHOpVLRQHQGRSDURGRQWDOHVXUXQH««««««««««««« )LJXUH/HVFRPSOH[HVEDFWpULHQV««««««««««««««««««««««« )LJXUH   /HV GLIIpUHQWHV EDFWpULHV LPSOLTXpHV GDQV OHV LQIHFWLRQV SULPDLUHV HQGRGRQWLTXHV««««««««««««««««««««««««««««««««« )LJXUH(WLRORJLHGHVOpVLRQVHQGRSDURGRQWDOHV«««««««««««««««««  .

(15) )LJXUH(WHQGXHVSRVVLEOHVG XQH/(3*UDGH«««««««««««««««««« )LJXUH9XHFOLQLTXHG XQHIUDFWXUHFRURQRUDGLFXODLUHVXU«««««««««««« )LJXUH0LVHHQpYLGHQFHGHODIUDFWXUHSDUH[SORUDWLRQFKLUXUJLFDOH«««««««« )LJXUHSUpVHQWDQWXQHOpVLRQHQGRSDURGRQWDOHDYHFVXVSLFLRQGHIrOXUH««««« )LJXUH7UDLWHPHQWFDQDODLUHHWSDURGRQWDOQRQFKLUXUJLFDOGHODGHQW«««««««« )LJXUH   &RQWU{OH GH O pYROXWLRQ GH OD OpVLRQ  SRFKH UpVLGXHOOH QRXYHDX WUDLWHPHQW SDURGRQWDOQRQFKLUXUJLFDO««««««««««««««««««««««««««« )LJXUH3HUVLVWDQFHGHODOpVLRQ««««««««««««««««««««««« )LJXUH/pVLRQHQGRSDURGRQWDOHDVVRFLpHjXQHSHUIRUDWLRQUDGLFXODLUH««««««« )LJXUH$SUqVUHWUDLWHPHQWHQGRGRQWLTXH«««««««««««««««««««« )LJXUH$SUqVREWXUDWLRQGHODSHUIRUDWLRQjPRLV«««««««««««««««« )LJXUH5DGLRJUDSKLHGHODDSUqVDQVSRVWRSpUDWRLUHV««««««««««««« )LJXUHSUpVHQWDQWXQHOpVLRQHQGRSDURGRQWDOHDVVRFLpHjXQHUpVRUSWLRQH[WHUQH« )LJXUH([DPHQ'FRQHEHDPPHWWDQWHQpYLGHQFHODUpVRUSWLRQH[WHUQHHWODSHUWHG RV HQOLQJXDO««««««««««««««««««««««««««««««««««« )LJXUH/pVLRQHQGRSDURGRQWDOHVXUXQHVDQVSHUWHGHO LQWpJULWpUDGLFXODLUHFKH]XQ SDWLHQWDWWHLQWGHSDURGRQWLWH«««««««««««««««««««««««««« )LJXUH    *XpULVRQ GH OD OpVLRQ HQGRSDURGRQWDOH VXU  DSUqV UHWUDLWHPHQW FDQDODLUH HW WUDLWHPHQWSDURGRQWDOQRQFKLUXUJLFDOHWFKLUXUJLFDO«««««««««««««««««« )LJXUH9XHFOLQLTXHG XQHSUpVHQWDQWXQHPRELOLWpLPSRUWDQWH«««««««««« )LJXUH   5DGLR UHWUR DOYpRODLUH GH OD  HW FRQILUPDWLRQ GX GLDJQRVWLF GH OpVLRQ HQGR SDURGRQWDOH«««««««««««««««««««««« )LJXUH9XHFOLQLTXHjPRLV««««««««««««««««««««««««« )LJXUH9XHUDGLRORJLTXHjPRLV««««««««««««««««««««««« . /LVWHGHVWDEOHDX[  7DEOHDX'LVWDQFHHQWUHODFRQVWULFWLRQDSLFDOHHWOHIRUDPHQDSLFDO PP

(16) ««««««« 7DEOHDX'LVWDQFHHQWUHODFRQVWULFWLRQDSLFDOHHWO DSH[DQDWRPLTXH PP

(17) ««««««« 7DEOHDX3UpYDOHQFHGHVFDQDX[DFFHVVRLUHVVHORQGLIIpUHQWVDXWHXUV«««««««« 7DEOHDX3UpYDOHQFHGHVFDQDX[DFFHVVRLUHV««««««««««««««««««« 7DEOHDX3UpYDOHQFHGHVFDQDX[jODIXUFDWLRQ««««««««««««««««« 7DEOHDX&RPSRVLWLRQGHODIORUHHQGRGRQWLTXHSDUFXOWXUH««««««««««««« 7DEOHDX&RPSRVLWLRQGHODIORUHHQGRFDQDODLUHVHORQODSDWKRORJLHSpULDSLFDOH«««« 7DEOHDXFODVVLILFDWLRQGHVOpVLRQVHQGRSDURGRQWDOHV«««««««««««««««  .

(18) ,QWURGXFWLRQ  /HV OpVLRQV HQGRSDURGRQWDOHV RQW OD SDUWLFXODULWp GH FRQFHUQHU GHX[ HQWLWpV ELRORJLTXHV GLVWLQFWHVO¶HQGRGRQWHHWOHSDURGRQWH0DLVFHVGHX[HQWLWpVVRQWHQUpDOLWpLQWLPHPHQWOLpHV VXUOHSODQDQDWRPRKLVWRORJLTXHWDQWHWVLELHQTX¶HOOHVGpILQLVVHQWXQYpULWDEOH©FRQWLQXXP HQGRSDURGRQWDOª 

(19)  'H QRPEUHXVHV YRLHV GH FRPPXQLFDWLRQ SDUWLFLSHQW j FH FRQWLQXXP ,QGLVSHQVDEOHV j OD VXUYLH GH O¶HQVHPEOH HOOHV SHXYHQW QpDQPRLQV IDYRULVHU OD SURSDJDWLRQ G¶XQ SURFHVVXV LQIODPPDWRLUHHWRXLQIHFWLHX[G¶XQFRPSDUWLPHQWjO¶DXWUH /RUVTXHOHVGHVWUXFWLRQVWLVVXODLUHVVRQWPL[WHVHQGRGRQWLTXHVHWSDURGRQWDOHVOHGLDJQRVWLF GHV SDWKRORJLHV FDXVDOHV SHXW V¶DYpUHU GLIILFLOH 'HSXLV OHV DQQpHV  SOXVLHXUV FODVVLILFDWLRQVRQWpWppODERUpHVDILQGHIDFLOLWHUDXTXRWLGLHQOHVGpPDUFKHVGLDJQRVWLTXHVHW WKpUDSHXWLTXHV 7RXWHIRLV QRPEUHXVHV VRQW FHOOHV TXL SUpVHQWHQW GHV OLPLWHV OHV UHQGDQW GLIILFLOHVG¶XWLOLVDWLRQYRLUHVXSHUIOXHV (Q  VRXV O¶pJLGH GH O¶$FDGpPLH $PpULFDLQH GH 3DURGRQWRORJLH HW GH OD )pGpUDWLRQ (XURSpHQQH GH 3DURGRQWRORJLH OHV H[SHUWV LQWHUQDWLRQDX[ SURSRVHQW XQH QRXYHOOH FODVVLILFDWLRQLQWHUQDWLRQDOHGHVOpVLRQVHQGRSDURGRQWDOHVGDQVOHFDGUHSOXVDFWXHOGHFHOOH GHVPDODGLHVSDURGRQWDOHVHWSpULLPSODQWDLUHV /¶REMHFWLI SULQFLSDO GH QRWUH PDQXVFULW HVW G¶pYDOXHU OD SHUWLQHQFH FOLQLTXH GH FHWWH QRXYHOOH IDoRQGHFODVVHUOHVOpVLRQVHQGRSDURGRQWDOHV /(3

(20)  8QSUHPLHUFKDSLWUHHVWGHVWLQpDX[GRQQpHVHVVHQWLHOOHVTXLSHUPHWWHQWGHFRPSUHQGUHOD FRPSOH[LWpGHV/(3FDUDFWpULVWLTXHVVWUXFWXUDOHVXOWUDVWUXFWXUDOHVHWpWLRSDWKRJpQLHGHFHV OpVLRQV 8QGHX[LqPHFKDSLWUHHVWGpGLpGDQVVDSUHPLqUHSDUWLHjO¶DQDO\VHFULWLTXHGHVQRPEUHXVHV FODVVLILFDWLRQV GLVSRQLEOHV DYDQW  HW GDQV VD GHX[LqPH SDUWLH j FHOOH GH OD QRXYHOOH FODVVLILFDWLRQ /HGHUQLHUFKDSLWUHHVWFRQVDFUp jOD SUpVHQWDWLRQ GHILFKHVFOLQLTXHVpODERUpHVjSDUWLUGH FHWWHFODVVLILFDWLRQGDQVXQEXWSpGDJRJLTXH  . .  .

(21) . /¶HQGRGRQWHHWOHSDURGRQWH  5DSSHOVHPEU\RORJLTXHV. /HVGHQWVVHIRUPHQWjSDUWLUG¶XQERXUJHRQGHQWDLUHLQGLYLGXHOTXLDXQHGRXEOHRULJLQHOD ODPH GHQWDLUH IRUPDWLRQ GpULYpH GH O¶pSLWKpOLXP EXFFDO HW OH PpVHQFK\PH SURYHQDQW GHV FUrWHVQHXUDOHVHWTXLDYRLVLQHFHVGHUQLqUHV 

(22)  &HVFHOOXOHVHFWRPpVHQFK\PDWHXVHVSUROLIqUHQWSRXUIRUPHUOHIROOLFXOHGHQWDLUHDLQVLTXHOD SDSLOOHGHQWDLUHUHVSHFWLYHPHQWOHVSUpFXUVHXUVGHODSXOSHHWGXSDURGRQWH                 )LJXUH*HUPHGHQWDLUHDXVWDGHGHODFORFKH /DPHGHQWDLUH2UJDQHGHO¶pPDLO&RQGHQVDWLRQ  PpVHQFK\PDWHXVH (0&0*ROGEHUJ

(23)    /¶HQGRGRQWH HW OH SDURGRQWH RQW GRQF XQH RULJLQH HPEU\RORJLTXH HFWRPpVHQFK\PDWHXVH FRPPXQHTXLH[SOLTXHODSHUVLVWDQFHGHPXOWLSOHVFRQQHFWLRQVDQDWRPLTXHVHQWUHFHVGHX[ VWUXFWXUHVGXUDQWWRXWHODYLHGHODGHQW /DWDLOOHGXIRUDPHQDSLFDOGpFURLWDXIXUHWjPHVXUHTXHODJDLQHpSLWKpOLDOHG¶+HUWZLJSUROLIqUH SXLVVHVWDELOLVHHWVHWUDQVIRUPHHQXQHYRLHGHFRPPXQLFDWLRQHVVHQWLHOOHSRXUODQXWULWLRQ HWO¶LQQHUYDWLRQGHODSXOSH 7DQGLVTXHODUDFLQHVHGpYHORSSHG¶DXWUHVFDQDX[DFFHVVRLUHVRXODWpUDX[VHIRUPHQWHQ SDUDOOqOHHWFRPSOqWHQWOHVUHODWLRQVHQGRSDURGRQWDOHV  2QFRPSUHQGGqVORUVOHVOLHQVpWURLWVTXLSHUVLVWHQWHQWUHO¶HQGRGRQWHHWOHSDURGRQWHHWGH FHIDLWODSRVVLELOLWpGHFRQWDPLQDWLRQGHO¶XQHYHUVO¶DXWUHHQWLWp 

(24)  .  'pILQLWLRQHWKLVWRORJLHGHO¶HQGRGRQWH /¶HQGRGRQWHFRUUHVSRQGjODSDUWLH©LQWHUQHªGHODGHQWFRPSRVpHGHODFKDPEUHSXOSDLUHHW GHVFDQDX[UDGLFXODLUHVDXVHLQGHVTXHOVVHORJHODSXOSH&HWLVVXGHQWDLUHVHUHWURXYHDLQVL HQWRXUpHG¶XQHFDYLWpDX[SDURLVULJLGHVFRPPXQLTXDQWDYHFO¶H[WpULHXUHVVHQWLHOOHPHQWSDU XQSHWLWRULILFHVLWXpjO¶DSH[GHODUDFLQHGHQWDLUH/¶HVWLPDWLRQGHODSUHVVLRQSXOSDLUHYDULH VHORQOHVpWXGHVHQWUHHWPP+JFHTXLUHSUpVHQWHO¶XQHGHVSUHVVLRQVOHVSOXVpOHYpHV GHO¶RUJDQLVPH 

(25)   /D SXOSH HVW XQ WLVVX FRQMRQFWLI OkFKH ULFKHPHQW YDVFXODULVp HW LQQHUYp (OOH HVW FRQVWLWXpH G¶XQHUpJLRQSpULSKpULTXHHWG¶XQHUpJLRQFHQWUDOH       .

(26) ¾ 6DUpJLRQSpULSKpULTXHFRPSUHQGFRXFKHV   /D FRXFKH RGRQWREODVWLTXH /HV RGRQWREODVWHV VRQW GHV FHOOXOHV WUqV GLIIpUHQFLpHV VLWXpHVjODSpULSKpULHGHODSXOSH 

(27) /HXUVFRUSVFHOOXODLUHVVHORJHQWjODVXUIDFHGHOD SXOSH GHQWDLUH WDQGLV TXH OHXUV SURORQJHPHQWV UHPSOLVVHQW OHV FDQDOLFXOHV GHQWLQDLUHV &HWWHLQWHUIDFHFHOOXODLUHHQWUHOHWLVVXSXOSDLUHHWODGHQWLQHPLQpUDOLVpHMRXHXQU{OHPDMHXU GH EDUULqUH SURWHFWULFH &RQIURQWpV j XQH DJUHVVLRQ EDFWpULHQQH RX PpFDQLTXH OHV RGRQWREODVWHVSURGXLVHQWGHODGHQWLQHUpDFWLRQQHOOHTXLSURWqJHQWHIILFDFHPHQWODSXOSH GHQWDLUH 

(28)    8QH FRXFKH DFHOOXODLUH GLWH GH :HLO G¶HQYLURQ  —P G¶pSDLVVHXU HW GpSRXUYXH GH FHOOXOHVTXLHVWSULQFLSDOHPHQWFRQVWLWXpHGHFDSLOODLUHVHWGHILEUHVQHUYHXVHV   8QH FRXFKH GH FHOOXOHV VRXVRGRQWREODVWLTXHV RX FRXFKH GH +|KO

(29)   TXL FRQWLHQW PDMRULWDLUHPHQW GHV ILEUREODVWHV PDLV pJDOHPHQW GHV FHOOXOHV SURYHQDQW GHV SUp RGRQWREODVWHV &HV FHOOXOHV RQW OD FDSDFLWp GH VH WUDQVIRUPHU HQ RGRQWREODVWHV GH UHPSODFHPHQW DILQ G¶DVVXUHU OD IRUPDWLRQ GH OD GHQWLQH UpSDUDWULFH VL OHV RGRQWREODVWHV VpFUpWHXUVVRQWGpWUXLWVSDUXQSURFHVVXVSDWKRORJLTXH/DGLIIpUHQFLDWLRQGHFHVFHOOXOHV V¶HIIHFWXHSDUFRQVpTXHQWDXIXUHWjPHVXUHGHVEHVRLQVSXOSDLUHV3DUDLOOHXUVODFRXFKH GH+|KOFRQWLHQWGHVFHOOXOHVLPPXQLWDLUHV 

(30)            )LJXUH&RXFKHSpULSKpULTXHGHODSXOSHVRUWLH  GHODSpULRGHHPEU\RQQDLUH3XOSH&RXFKH  GH+|KO2GRQWREODVWHV (0&0*ROGEHUJ

(31)    ¾ /D UpJLRQ FHQWUDOH HVW FRQVWLWXpH SDU OH SDUHQFK\PH SXOSDLUH SURSUHPHQW GLW FRPSRVp G¶pOpPHQWVFHOOXODLUHVHWPDWULFLHOV   /DPDWULFHH[WUDFHOOXODLUHIRUPpHGHFROODJqQHILEURQHFWLQHHWJO\FRVDPLQRJO\FDQHV 

(32)  MRXHXQU{OHHVVHQWLHOGXIDLWGHVHVSURSULpWpVYLVFRpODVWLTXHVTXLYDULHQWDYHFOHWHPSVHW OHV SURFHVVXV SK\VLRSDWKRORJLTXHV (Q HIIHW VHV SURSULpWpV OXL SHUPHWWHQW GH V¶DGDSWHU DX[YDULDWLRQVGHSUHVVLRQTXLVXUYLHQQHQWQRWDPPHQWORUVGHVSURFHVVXVLQIODPPDWRLUHV &¶HVWXQHGHVUDLVRQVTXLH[SOLTXHSRXUTXRL ODSOXSDUWGHVLQIODPPDWLRQVSXOSDLUHVVRQW FOLQLTXHPHQWDV\PSWRPDWLTXHV 

(33) $YHFOHWHPSVODFRPSRVDQWHFHOOXODLUHWHQGjGLPLQXHU HQIDYHXUGHODFRPSRVDQWHILEUHXVH 

(34)    /HVILEUREODVWHVSXOSDLUHVIRUPHQWODPDMRULWpGXSRROFHOOXODLUHHWVRQWUHVSRQVDEOHVGH ODIRUPDWLRQHWGXUHQRXYHOOHPHQWGHODPDWULFHH[WUDFHOOXODLUH 

(35)    /HV FHOOXOHV LPPXQLWDLUHVUpVLGHQWHV QHWWHPHQW PRLQV QRPEUHXVHV PDVWRF\WHV PDFURSKDJHV

(36) SDUWLFLSHQWjODVXUYHLOODQFHLPPXQLWDLUHFRQVWDQWH 

(37)    .

(38) . 'HVFHOOXOHVVRXFKHVGHODSXOSHVRQWpJDOHPHQWSUpVHQWHVDXVHLQGHODSXOSHGHQWDLUH /HXU SUpVHQFH RIIUH GH QRXYHOOHV SHUVSHFWLYHV WKpUDSHXWLTXHV QRWDPPHQW SRXU OH WUDLWHPHQWGHVGHQWVQpFURVpHV 

(39) .  /D SXOSH HVW YDVFXODULVpH SDU GHVYDLVVHDX[VDQJXLQV TXL SpQqWUHQW SDU OH IRUDPHQ DSLFDO VRXVODIRUPHG¶XQHRXGHX[DUWpULROHVSULQFLSDOHVGRQWOHGLDPqWUHHVWGHO¶RUGUHGH—P &HV DUWpULROHV SULQFLSDOHV WUDYHUVHQW OD ]RQH FHQWUDOH GHOD SXOSH UDGLFXODLUH HW VH UDPLILHQW XOWpULHXUHPHQWHQDUWpULROHVVHFRQGDLUHVGHGLDPqWUHSOXVUpGXLW GHO¶RUGUHGH—P

(40)  

(41)  4XHOTXHVYDLVVHDX[DFFHVVRLUHVSpQqWUHQWODGHQWSDUGHVRXYHUWXUHVVHFRQGDLUHVODWpUDOHV OHXUWUDMHFWRLUHHVWDVFHQGDQWHHQGLUHFWLRQGHODFKDPEUHSXOSDLUH  (Q FH TXL FRQFHUQH O¶LQQHUYDWLRQ FHOOHFL HVW DVVXUpH SDU GHV ILEUHV P\pOLQLVpHV HW QRQ P\pOLQLVpHV /HV ILEUHV P\pOLQLVpHV VRQW GHV ILEUHV VHQVLWLYHV $GHOWD DSSDUWHQDQW DX QHUI WULMXPHDX3OXVQRPEUHXVHVjODSpULSKpULHGHODSXOSHHOOHVSHUGHQWOHXUJDLQHGHP\pOLQHHW UHMRLJQHQWODUpJLRQVXERGRQWREODVWLTXHRHOOHVIRUPHQWOHSOH[XVQHUYHX['HFHWWHUpJLRQ SDUWHQWTXHOTXHVF\OLQGUD[HVQXVTXLSDVVHQWDXWUDYHUVGHVRGRQWREODVWHVHWSpQqWUHQWGDQV OHVWXEXOHVGHQWLQDLUHVSRXUFKHPLQHUOHORQJGXSURFHVVXVRGRQWREODVWLTXHSHQGDQWXQFRXUW WUDMHW  j  PLFURQV

(42)  /HV ILEUHV $GHOWD VRQW HQ UHODWLRQ DYHF XQH GRXOHXU DLJXs SpQpWUDQWHGRXOHXUTXLGLVSDUDLWDYHFO¶DUUrWGXVWLPXOXV /HVILEUHVQRQP\pOLQLVpHVGXJURXSH&FRPSUHQQHQWGHVILEUHVRUWKRV\PSDWKLTXHVDLQVLTXH OHVILEUHVVHQVLWLYHV/HVILEUHVRUWKRV\PSDWKLTXHVDFFRPSDJQHQWJpQpUDOHPHQWOHVDUWpULROHV HW UHPSOLVVHQW OH U{OH GH UpJXODWHXUV GX IOX[ VDQJXLQ /HV ILEUHV VHQVLWLYHV VRQW HQ IDLW GHV ILEUHVGXJURXSH&OLpHVjODGRXOHXUVSRQWDQpHLQWHQVHLUUDGLDQWH 

(43)  .  'pILQLWLRQHWKLVWRORJLHGXSDURGRQWH /H SDURGRQWH HVW FRQVWLWXp GHV WLVVXV GH VRXWLHQ GH OD GHQW ,O FRPSUHQG OH SDURGRQWH VXSHUILFLHOODJHQFLYHHWOHSDURGRQWHSURIRQGO¶RVDOYpRODLUHOHOLJDPHQWDOYpRORGHQWDLUH RXGHVPRGRQWHHWOHFpPHQW ILJXUH

(44)  

(45)           . .  . )LJXUH3DURGRQWHSURIRQGHWSDURGRQWH VXSHUILFLHO. .  .

(46) x/HSDURGRQWHVXSHUILFLHO /DJHQFLYHFRQVWLWXHOHSDURGRQWHVXSHUILFLHOIRUPpSDUODJHQFLYHSDSLOODLUHPDUJLQDOHHWOD JHQFLYHDWWDFKpH      . $*HQFLYHPDUJLQDOH %*HQFLYHDWWDFKpH &/LJQHPXFRJLQJLYDOH '0XTXHXVHDOYpRODLUH (3DSLOOHLQWHUGHQWDLUH. ( $ % &.  . '. )LJXUH/HSDURGRQWHVXSHUILFLHO. /DJHQFLYHSDSLOODLUHIRUPHODSDSLOOHJLQJLYDOHHOOHRFFXSHO¶HPEUDVXUHHQWUHGHQWV  /HVXOFXVF¶HVWjGLUHOHVLOORQJLQJLYRGHQWDLUHFRQVWLWXHO¶HVSDFHYLUWXHOHQWUHODJHQFLYHHWOD GHQW SOXV SUpFLVpPHQW HQWUH O¶pPDLO HW OD SDUWLH LQWHUQH GH O¶pSLWKpOLXP JLQJLYDO 

(47)  

(48)  8Q VXOFXVGLWVDLQDXUDXQHSURIRQGHXUGHjPP6DSURIRQGHXUVHPHVXUHFODVVLTXHPHQW DXPR\HQG¶XQHVRQGHSDURGRQWDOHJUDGXpH /RUVTXH FHWWH SURIRQGHXU GpSDVVHPP O¶HVSDFH HQWUHODGHQW HW OD JHQFLYHHVWFRQVLGpUp FRPPHSDWKRORJLTXHRQQHSDUOHSOXVGHVXOFXVPDLVGHSRFKHVJLQJLYDOHVRXSDURGRQWDOHV HQFDVGHSHUWHG¶DWWDFKH  /DJHQFLYHPDUJLQDOH RXOLEUH

(49) Q¶HVWSDVDWWDFKpHPpFDQLTXHPHQWjODGHQWOHVLOORQJLQJLYR GHQWDLUHYLHQWV¶LQWHUSRVHUHQWUHHOOHHWODGHQW  /D JHQFLYH HVW FRQVWLWXpH G¶XQH FRPSRVDQWH pSLWKpOLDOH HW G¶XQH FRPSRVDQWH FRQMRQFWLYH /¶pSLWKpOLXPJLQJLYDOFRPSUHQG]RQHV  /¶pSLWKpOLXP EXFFDO VLWXp j O¶H[WpULHXU  LO V¶DJLW G¶XQ pSLWKpOLXP SDYLPHQWHX[ VWUDWLILp NpUDWLQLVpTXLSUpVHQWHGHVGLJLWDWLRQVpSLWKpOLDOHVGDQVOHFKRULRQJLQJLYDO ,O FRPSUHQG TXDWUH FRXFKHV OD FRXFKH EDVDOH pSLQHXVH JUDQXOHXVH HW OD FRXFKH NpUDWLQLVpH  /¶pSLWKpOLXPVXOFXODLUHLOIDLWIDFHjODGHQW,OV¶DJLWG¶XQpSLWKpOLXPSDYLPHQWHX[VWUDWLILp QRQNpUDWLQLVp  /¶pSLWKpOLXPMRQFWLRQQHOLODGKqUHjODGHQWHWO¶HQWRXUHDXQLYHDXGHVRQFROOHW /HWLVVXFRQMRQFWLIJLQJLYDOHVWOHWLVVXSUpGRPLQDQWGHODJHQFLYH,OHVWFRPSRVpGHILEUHVGH FROODJqQHV GH ILEUREODVWHV GH FHOOXOHV GH GpIHQVHV UpVLGHQWHV HW GH SDVVDJH PRQRF\WHV PDFURSKDJHVOHXFRF\WHVO\PSKRF\WHV7HW%PDVWRF\WHV

(50) GHYDLVVHDX[HWGHQHUIVFRQWHQX GDQVODPDWULFHH[WUDFHOOXODLUH /DPXTXHXVHJLQJLYDOHHVWXQHPXTXHXVHPDVWLFDWRLUH6DFRXFKHGHNpUDWLQHGHO¶pSLWKpOLXP EXFFDO HW VHV SDSLOOHV FRQMRQFWLYHV KDXWHV HW ILQHV VRQW GHV FDUDFWpULVWLTXHV UpSRQGDQW SDUIDLWHPHQWDX[H[LJHQFHVIRQFWLRQQHOOHV 

(51)      .

(52) x/HSDURGRQWHSURIRQG /H SDURGRQWH SURIRQG HVW FRPSRVp GH O¶RV DOYpRODLUH GX OLJDPHQW DOYpRORGHQWDLUH HW GX FpPHQW  /¶RV DOYpRODLUHHVW XQH DVVRFLDWLRQ IRQFWLRQQHOOH HW ELRORJLTXH GH SOXVLHXUV WLVVXV ,O HVW FRPSRVp GH WLVVXV RVVHX[ GXUV HW GH WLVVXV PRXV WHOV TXH OD PRHOOH RVVHXVH OHV HVSDFHV FRQMRQFWLYRYDVFXODLUHV HW OHV HQYHORSSHV FHOOXODLUHV SpULRVWH HQGRVWH

(53)  2Q GLVWLQJXH DORUV O¶RV FRPSDFW GHQVH HW O¶RV VSRQJLHX[ SOXV OkFKH /¶RV FRPSDFW HVW HVVHQWLHOOHPHQW FRPSRVp GH WLVVXV RVVHX[ LO HVW WUqV SHX YDVFXODULVp HW WUqV SHX FHOOXODULVp $ O¶LQYHUVH DX QLYHDX GH O¶RV VSRQJLHX[ OH WLVVX RVVHX[ Q¶HVW SOXV SUpSRQGpUDQWLOHVWWUqVYDVFXODULVpHWWUqVFHOOXODULVp 4XHOOHTXHVRLWODVWUXFWXUHGDQVODTXHOOHLOVHWURXYHOHWLVVXRVVHX[HVWWRXMRXUVFRQVWLWXp G¶XQHPDWULFHPLQpUDOLVpHRXVXEVWDQFHLQWHUFHOOXODLUHHWGHFHOOXOHVOHVRVWpRF\WHV/D VXEVWDQFHLQWHUFHOOXODLUHFRPSUHQGXQHIUDFWLRQRUJDQLTXHTXLUHSUpVHQWHGXSRLGV VHFGXWLVVXRVVHX[TXLHVWFRQVWLWXpHSULQFLSDOHPHQWGHFROODJqQHGHW\SH,RUJDQLVpHQ ILEUHVHWXQHIUDFWLRQLQRUJDQLTXHRXPLQpUDOHFRPSRVpHGHFULVWDX[G¶K\GUR[\DSDWLWHTXL UHSUpVHQWHGXSRLGVVHFGXWLVVXRVVHX[ 6WUXFWXUHOOHPHQWSDUODQWO¶DOYpROHFRPSUHQGXQHFRUWLFDOHH[WHUQHXQHSDURLDOYpRODLUHGH O¶RVVSRQJLHX[HWGHVVXUIDFHVFHOOXODLUHV /D FRUWLFDOH H[WHUQH HOOH HVW IRUPpH G¶RV FRPSDFW HW IRUPH XQH FRTXH H[WHUQH ULJLGH UpVLVWDQWHjODGpIRUPDWLRQ(OOHFRPSUHQGXQHIDFHYHVWLEXODLUHHWXQHIDFHOLQJXDOHRX SDODWLQHOHVTXHOOHVVRQWUHOLpHVSDUXQHFRUWLFDOHPDUJLQDOHHQFRURQDLUH&HW\SHG¶RVHVW GLW ODPHOODLUH KDYHUVLHQ F¶HVWjGLUH TX¶LO VH FRPSRVH GH ODPHOOHV GH FROODJqQH FRPSOqWHPHQWPLQpUDOLVpHVRUJDQLVpHVDXWRXUG¶XQFDQDOYDVFXODLUHIRUPDQWGHVRVWpRQV &KDTXH RVWpRQ RX V\VWqPH GH +DYHUV FRPSUHQG  j  ODPHOOHV /HV RVWpRF\WHV SHXYHQWVHVLWXHUVRLWGDQVO¶pSDLVVHXUGHVODPHOOHVVRLWrWUHGLVSRVpVHQWUHGHX[ODPHOOHV OHXU JUDQG D[H pWDQW SDUDOOqOH j FHOXL GH O¶RVWpRQ /HV FDQDOLFXOHV FRQWHQDQW OHV SURORQJHPHQWVF\WRSODVPLTXHVGHVRVWpRF\WHVV¶RXYUHQWGDQVOHFDQDOYDVFXODLUH /DSDURLDOYpRODLUHHVWXQRVVSpFLILTXHGLWIDVFLFXOpTXLjSOXVLHXUVSDUWLFXODULWpV x LOHVWFRQVWLWXpSDUGHVILEUHVGHFROODJqQHVH[WULQVqTXHV IDLVFHDX[GXOLJDPHQW DOYpRORGHQWDLUHTXLHQV¶LQVpUDQWGDQVO¶RVSUHQQHQWOHQRPGHILEUHVGH6KDUSH\

(54)  SDUWLFLSDQWjO¶DQFUDJHGHODGHQWHWGHVILEUHVLQWULQVqTXHVTXLIRUPHQW ODWUDPH FRQVWLWXWLYHGXWLVVXRVVHX[pODERUpHSDUOHVRVWpREODVWHV x LOHVWWUqVYDVFXODULVp x LO SUpVHQWH XQH JUDQGH GLYHUVLWp GDQV VD VWUXFWXUH KLVWRORJLTXH VHORQ OHV VLWHV REVHUYpVHWOHVLPSRUWDQWVUHPDQLHPHQWVVWUXFWXUDX[TX¶LOVVXELVVHQW x LOSUpVHQWHXQHVXUIDFHOLJDPHQWDLUHWDSLVVpHSDUGHVFHOOXOHVRVWpRSURJpQLWULFHV HWGHVRVWpREODVWHVLQWHUSRVpVHQWUHOHVIDLVFHDX[GHILEUHV&HVFHOOXOHVDVVXUHQW OHV UHPDQLHPHQWV VWUXFWXUDX[ SK\VLRORJLTXHV FRPSOH[HV TXH VXELW FHWWH VXUIDFH RVVHXVH /¶RVVSRQJLHX[HVWSOXVYDVFXODULVpHWFHOOXODLUHTXHO¶RVFRUWLFDO/HVODPHOOHVIRUPHQWGHV WUDYpHVRXWUDEpFXOHVFRQWHQDQWGHVYDLVVHDX[HWODPRHOOH,ODXQU{OHVXUWRXWPpWDEROLTXH /HV VXUIDFHV GX WLVVX RVVHX[ VRQW ERUGpHV SDU GHV HQYHORSSHV FHOOXODLUHV GLVWLQFWHV DQDWRPLTXHPHQW HW IRQFWLRQQHOOHPHQW (Q SOXV GH OD VXUIDFH OLJDPHQWDLUH GH O¶DOYpROH RQ GLVWLQJXHOHSpULRVWHO¶HQGRVWHHWODVXUIDFHKDYHUVLHQQHGHODIDFHLQWHUQHGHVRVWpRQV/H SpULRVWHULFKHPHQWYDVFXODULVpUHFRXYUHODFRUWLFDOHH[WHUQH,OFRPSUHQGXQHFRXFKHLQWHUQH FRQVWLWXpHGHFHOOXOHVRVWpRSURJpQLWULFHVHWXQHFRXFKHH[WHUQHILEUHXVH/¶HQGRVWHWDSLVVH OHVWUDEpFXOHVGXWLVVXRVVHX[VSRQJLHX[,OHVWULFKHHQFHOOXOHVRVWpRSURJpQLWULFHVDLQVLTX¶HQ FHOOXOHVRVVHXVHV RVWpREODVWHVHWRVWpRFODVWHV

(55) /DVXUIDFHKDYHUVLHQQHGHODIDFHLQWHUQH GHVRVWpRQVHVWFRQVWLWXpHGHVPrPHVFHOOXOHV   .

(56)          )LJXUH6WUXFWXUHGHO RVDOYpRODLUH(QURVHOH )LJXUH2VDOYpRODLUH6HFWLRQ  WUDQVYHUVDOHDYHFGHQWVLQVpUpHVGDQV SpULRVWHHQMDXQHO HQGRVWHHQEOHXVXUIDFH +DYHUVLHQQH 6WHYHQV$/RZH-+LVWRORJLH(G  OHXUDOYpROH (0&00$XULRO

(57)  3UDGHO

(58)    /¶RV SDURGRQWDO SRVVqGH XQH LPSRUWDQWH FDSDFLWp GH UHPRGHODJH QRWDPPHQW JUkFH DX[ RVWpREODVWHVHWDX[RVWpRFODVWHV 

(59)    /H OLJDPHQW DOYpRORGHQWDLUH UHOLH O¶RV DOYpRODLUH DX FpPHQW TXL UHFRXYUH OD GHQWLQH UDGLFXODLUH 

(60) LODVVXUHODVWDELOLWpGHODGHQW,OV¶DJLWG¶XQWLVVXFRQMRQFWLIFRQVWLWXpHQ PDMHXUHSDUWLHSDUGHVIDLVFHDX[GHILEUHVGHFROODJqQHGHW\SH,GRQWODSRUWLRQLQVpUpH GDQVOHVUDFLQHVIRUPHOHVILEUHVGH6KDUSH\&HWLVVXHVWpJDOHPHQWULFKHPHQWYDVFXODULVp HW FHOOXODULVp /HV ILEUREODVWHV PDMRULWDLUHV \ F{WRLHQW GH QRPEUHXVHV FHOOXOHV PpVHQFK\PDWHXVHVHWGHVFHOOXOHVLPPXQLWDLUHVUpVLGHQWHV(WDQWGRQQpVDFRQVWLWXWLRQ SDUWLFXOLqUH OH OLJDPHQW DOYpRORGHQWDLUH FRQVWLWXH DYHF OH FpPHQW HW OD SDURL DOYpRODLUH O¶DSSDUHLOG¶DQFUDJHGHODGHQW3DUDLOOHXUVLODVVXUHXQHIRQFWLRQGHVRXWLHQGHVWLVVXV JLQJLYDX[ XQH IRQFWLRQ GH GpIHQVH SHUPDQHQWH HW GHV IRQFWLRQV UpSDUDWULFHV HW UpJpQpUDWULFHVJUkFHjVRQSRROFHOOXODLUH 

(61)              )LJXUH/LJDPHQWSDURGRQWDO)LEUHVFROODJqQHV SDUDOOqOHVVpSDUpHVSDUGHVHVSDFHVRFLUFXOHQW  OHVYDLVVHDX[ (0&00$XULRO

(62)     /HFpPHQWUHSUpVHQWHXQGHVWURLVpOpPHQWVGHO¶DSSDUHLOG¶DQFUDJHGHODGHQW3RXUWDQW LQGLVVRFLDEOHGHFHWWHGHUQLqUHLOIDLWQpDQPRLQVSDUWLLQWpJUDQWHGXSDURGRQWHHQUDLVRQ GHVRQRULJLQHHPEU\RORJLTXH 

(63) ,OV¶DJLWG¶XQWLVVXFRQMRQFWLIPLQpUDOLVpDYDVFXODLUHHW GpSRXUYX G¶LQQHUYDWLRQ 1pDQPRLQV LO SRVVqGH XQH FDSDFLWp G¶DGDSWDWLRQ UHPDUTXDEOH IDFHjGHVH[LJHQFHVIRQFWLRQQHOOHVSDUWLFXOLqUHVWHOOHVTXHODPLJUDWLRQRXOHGpSODFHPHQW RUWKRGRQWLTXH ,O D pJDOHPHQW OD FDSDFLWp GH FRPEOHU GHV ODFXQHV SDWKRORJLTXHV GH UpVRUSWLRQ DYHF XQ FpPHQW GLW G¶DSSRVLWLRQ (QWUH OD MRQFWLRQ DPpORFpPHQWDLUH HW O¶DSH[ UDGLFXODLUH VH VXFFqGHQW GHX[ W\SHV GH FpPHQW OH FpPHQW DFHOOXODLUH HW OH FpPHQW FHOOXODLUH&HVW\SHVGHFpPHQWVVHGLIIpUHQFLHQWQRQVHXOHPHQWSDUODSUpVHQFHRXQRQ.  .

(64) GHFHOOXOHVPDLVDXVVLSDUGHVFDUDFWpULVWLTXHVVWUXFWXUDOHVLOOXVWUpHVSDUOHVUHODWLRQVGX WLVVXDYHFOHOLJDPHQWDOYpRORGHQWDLUH  /HFpPHQWDFHOOXODLUHHVWIRUPpSDUOHVFpPHQWREODVWHVDXFRXUVGXGpYHORSSHPHQWGHODGHQW ,OV¶DJLWG¶XQSURFHVVXVORQJTXLSHUPHWDX[FHOOXOHVGHQHSDVrWUHHPSULVRQQpHVGDQVOHXU VpFUpWLRQ              )LJXUH&pPHQWDFHOOXODLUHDXFRQWDFWGX  OLJDPHQWSDURGRQWDO (0&00$XULRO

(65)    /DIRUPDWLRQGXFpPHQWFHOOXODLUHDOLHXGDQVXQVHFRQGWHPSVORUVTXHODGHQWIDLWVRQpUXSWLRQ GDQV OD FDYLWp EXFFDOH &H SURFHVVXV SOXV UDSLGH QH SHUPHW SDV DX[ FpPHQWREODVWHV GH V¶pORLJQHUGHOHXUSURGXFWLRQOHVTXHOVVHWUDQVIRUPHQWHQFpPHQWRF\WH 

(66)        . )LJXUH&pPHQWFHOOXODLUH/RJHWWHVUHQIHUPDQWGHV FpPHQWRF\WHV (0&00$XULRO

(67) .         .  .

(68)  9RLHVGHFRPPXQLFDWLRQHQWUHO¶HQGRGRQWHHWOHSDURGRQWH 3HQGDQW WRXWH OD YLH GH O¶RUJDQH GHQWDLUH O¶HQGRGRQWH HW OH SDURGRQWH FRPPXQLTXHQW HQ SHUPDQHQFHYLDGHVYRLHVGHFRPPXQLFDWLRQVSK\VLRORJLTXHVHWQRQSK\VLRORJLTXHV  9RLHVSK\VLRORJLTXHV (WDQWGRQQpO¶RULJLQHHFWRPpVHQFK\PDWHXVHFRPPXQHGHODSXOSHHWGXSDURGRQWHLOH[LVWH XQH FRQWLQXLWp FRQMRQFWLYH HW YDVFXODLUH HQWUH FHV GHX[ VWUXFWXUHV &HV YRLHV GH FRPPXQLFDWLRQVGLWHVSK\VLRORJLTXHVLPSOLTXHQWGHVHIIHWVUpFLSURTXHVGHVSDWKRORJLHVHWGHV WKpUDSHXWLTXHV 

(69) (OOHVFRPSUHQQHQWOHIRUDPHQDSLFDOOHVFDQDX[DFFHVVRLUHVGXDSLFDO HWOD]RQHGHIXUFDWLRQOHVFDQDOLFXOHVGHQWDLUHVHWOHVDEHUUDWLRQVFDQDODLUHV           . )LJXUH/HVGLIIpUHQWHVYRLHVGHFRPPXQLFDWLRQ SK\VLRORJLTXH$)RUDPHQDSLFDO%&DQDODFFHVVRLUHGDQV OHWLHUVDSLFDO&&DQDOLFXOHGHQWLQDLUH'&DQDODFFHVVRLUH jOD]RQHGHIXUFDWLRQ 39 $EERWW-&DVWUR6DOJDGR

(70) .  R /HIRUDPHQDSLFDO ,OV¶DJLWGHO¶RULILFHSULQFLSDOGHVRUWLHGXFDQDOYHUVOHSDURGRQWH,OFRQVWLWXHODSULQFLSDOHYRLH GHFRPPXQLFDWLRQ6RQGLDPqWUHHVWG¶HQYLURQGHPLOOLPqWUHV,OSHUPHWOHSDVVDJHGHV YDLVVHDX[ VDQJXLQV HW GHV ILEUHV QHUYHXVHV GX SDURGRQWH YHUV O¶HQGRGRQWH 0DOKHXUHXVHPHQW LO UHSUpVHQWH pJDOHPHQW XQH YRLH GH SDVVDJH j KDXW SRWHQWLHO SRXU OHV EDFWpULHV$LQVLORUVG¶XQHLQIODPPDWLRQSXOSDLUHRXG¶XQHQpFURVHSXOSDLUHLOQ¶HVWSDVUDUH G¶REVHUYHU XQH SURSDJDWLRQ GH O¶LQIODPPDWLRQ DX[ WLVVXV SpUL DSLFDX[ DFFRPSDJQpH G¶XQH UpVRUSWLRQRVVHXVHHWRXUDGLFXODLUH 

(71)  -DQVVRQHWDORQWpYDOXpGDQVXQHpWXGHGHTXHODSHUWHG¶RVGHVGHQWVSUpVHQWDQWXQH OpVLRQSpULDSLFDOHHVWG¶HQYLURQPPDQFRQWUHPPDQSRXUOHVGHQWVQHSUpVHQWDQW SDVGHOpVLRQSpULDSLFDOHVRXGRQWVDWDLOOHGLPLQXH 

(72)  'H PrPH LO HVW IUpTXHQW G¶REVHUYHU OD IRUPDWLRQ G¶XQH ILVWXOH SHUPHWWDQW OH GUDLQDJH GH OD OpVLRQYLDOHSDURGRQWH 

(73)   (QUHYDQFKHXQHSURSDJDWLRQGHO¶LQIHFWLRQGXSDURGRQWHjO¶HQGRGRQWHSDUO¶LQWHUPpGLDLUHGH FHIRUDPHQIDLWWRXMRXUVGpEDWGDQVODOLWWpUDWXUH7DJJHU 6PXNOHURQWSURFpGpHQj GHV DPSXWDWLRQV UDGLFXODLUHV VXU GHV PRODLUHV VpYqUHPHQW DWWHLQWHV GH SDURGRQWLWHV HW RQW pWXGLpO¶pWDWG¶LQIODPPDWLRQGHODSXOSHGHFHVUDFLQHVDXFXQHGHVSXOSHVpWXGLpHVGDQVOHV UDFLQHVDPSXWpHVQHPRQWUDLWGHVLJQHVG¶LQIODPPDWLRQ+DVNHOOHHWDORQWpJDOHPHQWpWXGLp.  .

(74) HQOHVSXOSHVGHPRODLUHVPD[LOODLUHVH[WUDLWHVjFDXVHG¶XQHDWWHLQWHSDURGRQWDOHVpYqUH HWQ¶RQWWURXYpDXFXQHRXWUqVSHXGHFHOOXOHVLQIODPPDWRLUHV 

(75)  /DSRVLWLRQHWOHQRPEUHGHIRUDPLQDDSLFDX[VRQWH[WUrPHPHQWYDULDEOHVHWSHXYHQWSOXVRX PRLQVIDYRULVHUO¶DSSDULWLRQGHOpVLRQVHQGRSDURGRQWDOHV/HULVTXHDXJPHQWHHQHIIHWDYHF OHQRPEUHGHFDQDX[SpULDSLFDX[HWGHVRUWLHVDSLFDOHV 3OXVLHXUVFODVVLILFDWLRQVGXV\VWqPHFDQDODLUHRQWpWppODERUp 

(76)  Î /DFODVVLILFDWLRQGH:HLQH 

(77) GLIIpUHQFLHW\SHV             )LJXUH&ODVVLILFDWLRQGXV\VWqPHFDQDODLUHGH:HLQH   7\SH,8QVHXOFDQDOGHODFKDPEUHSXOSDLUHMXVTX¶jO¶DSH[ 7\SH,,'HX[FDQDX[TXLWWHQWODFKDPEUHSXOSDLUHVHUHMRLJQHQWHWIRUPHQWXQVHXOHWXQLTXH FDQDOjO¶DSH[ 7\SH,,,'HX[FDQDX[GLVWLQFWVGHODFKDPEUHSXOSDLUHMXVTX¶jO¶DSH[ 7\SH,98QVHXOFDQDOTXLWWHODFKDPEUHSXOSDLUHVHGLYLVHHWIRUPHGHX[FDQDX[GLVWLQFWVj O¶DSH[  Î &ODVVLILFDWLRQGH9HUWXFFL 

(78) HQGLVWLQJXHGHSOXV. )LJXUH&ODVVLILFDWLRQGH9HUWXFFL. .  7\SH,8QVHXOFDQDOGHODFKDPEUHSXOSDLUHMXVTX¶jO¶DSH[ 7\SH,,'HX[FDQDX[TXLWWHQWODFKDPEUHSXOSDLUHVHUHMRLJQHQWHWIRUPHQWXQVHXOHWXQLTXH FDQDOjO¶DSH[ 7\SH,,,8Q VHXOFDQDOTXLWWHODFKDPEUH SXOSDLUHVHVpSDUHHQGHX[FDQDX[GLVWLQFWVTXL ILQDOHPHQWVHUHMRLJQHQWSRXUQHIRUPHUTX¶XQVHXOFDQDOjO¶DSH[ 7\SH,9'HX[FDQDX[GLVWLQFWVGHODFKDPEUHSXOSDLUHMXVTX¶jO¶DSH[ 7\SH98QVHXOFDQDOTXLWWHODFKDPEUHSXOSDLUHVHGLYLVHHWIRUPHGHX[FDQDX[GLVWLQFWVj O¶DSH[  .

(79) 7\SH9,'HX[FDQDX[GLVWLQFWVTXLWWHQWODFKDPEUHSXOSDLUHVHUHMRLJQHQWSRXUIRUPHUXQVHXO FDQDOSXLVVHUHGLYLVHQWjQRXYHDXHQGHX[FDQDX[GLVWLQFWVjO¶DSH[ 7\SH9,,8QVHXOFDQDOTXLWWHODFKDPEUHSXOSDLUHVHGLYLVHHQGHX[FDQDX[TXLVHUHMRLJQHQW SRXUILQDOHPHQWVHGLYLVHUjQRXYHDXjO¶DSH[ 7\SH9,,,7URLVFDQDX[GLVWLQFWVGHODFKDPEUHSXOSDLUHMXVTX¶jO¶DSH[  %LHQTXHOHVDXWHXUVSUpFpGHQWVDLHQWpODERUpFHVFODVVLILFDWLRQVGDQVOHEXWG¶DSSUpKHQGHU GHPDQLqUHSOXVVHUHLQHOHVWUDLWHPHQWVFDQDODLUHVLOHVWXWLOHGHUDSSHOHUTXHFKDTXHGHQWHVW XQRUJDQHXQLTXHSUpVHQWDQWGHVYDULDWLRQVLQGLYLGXHOOHVDQDWRPLTXHVSDUIRLVFRPSOH[HV  /HSRVLWLRQQHPHQWGXIRUDPHQDSLFDOHVWpJDOHPHQWWUqVYDULDEOH(Q0RXVDYLHW$ORQW UpDOLVpXQHpWXGHGHVFULSWLYHVXUOHSRVLWLRQQHPHQWGXIRUDPHQDSLFDOVXUGHVLQFLVLYHVHWGHV PRODLUHV,OVRQWPHVXUpOHVGLVWDQFHVHQWUHODFRQVWULFWLRQDSLFDOH &$

(80) OHIRUDPHQDSLFDO )$

(81)  HWO¶DSH[DQDWRPLTXH $$

(82) /HVUpVXOWDWVVRQWOHVVXLYDQWVODGLVWDQFHHQWUHOD&$HWOH)$HW HQWUHOD&$HWO¶DSH[DQDWRPLTXHHVWVLJQLILFDWLYHPHQWSOXVLPSRUWDQWHSRXUOHVLQFLVLYHV$LQVL OHVLQFLVLYHVSUpVHQWHQWSOXVVRXYHQWXQ)$VLWXpSOXVFRURQDLUHPHQWTXHO¶DSH[DQDWRPLTXH 'HFHIDLWOHULVTXHG¶XQHFRPPXQLFDWLRQHQWUHXQHSRFKHSDURGRQWDOHHWXQHOpVLRQDSLFDOH G¶RULJLQHHQGRGRQWLTXHHVWDXJPHQWp ILJXUH

(83)                      )LJXUH3RVLWLRQQHPHQWGX)$SDUUDSSRUWjO $$         7DEOHDX'LVWDQFHHQWUHODFRQVWULFWLRQDSLFDOHHWOHIRUDPHQDSLFDO PP

(84)  0RXVDYLHW$O

(85)   .  .

(86)      7DEOHDX'LVWDQFHHQWUHODFRQVWULFWLRQDSLFDOHHWO DSH[DQDWRPLTXH PP

(87)   0RXVDYLHW$O

(88)   /HVGLVWDQFHVPHVXUpHVORUVGHFHWWHpWXGH PRQWUHQWELHQXQHYDULDWLRQLPSRUWDQWHGDQVOH SRVLWLRQQHPHQWGXIRUDPHQDSLFDOVRXYHQWFHGHUQLHUQHVHVLWXHSDVjO¶DSH[DQDWRPLTXH 

(89)   R /HVFDQDX[DFFHVVRLUHV  /RUV GH OD IRUPDWLRQ GH OD UDFLQH FHUWDLQHV LUUpJXODULWpV SHXYHQW VH SURGXLUH LQGXLVDQW OD IRUPDWLRQGHGpIDXWVDXVHLQGHVTXHOVODGHQWLQRJpQqVHQHVHSURGXLWSDV,OHQUpVXOWHDORUV O¶DSSDULWLRQGHFDQDX[DFFHVVRLUHV 

(90)             )LJXUH&DQDODFFHVVRLUH FRORUDWLRQ+ (  [=X]DDQG$O

(91)    /DFODVVLILFDWLRQGH'H'HXVpWDEOLHHQSHUPHWGHGLIIpUHQFLHUOHVFDQDX[DFFHVVRLUHV GHVUDPLILFDWLRQVGXFDQDOSULQFLSDOTXLSHXYHQWrWUHODWpUDOHVRXVHFRQGDLUHV  Î FDQDOSULQFLSDOLOVHSURORQJHOHORQJGHODUDFLQHGqVO¶HQWUpHFDQDODLUHHWMXVTX¶DX IRUDPHQDSLFDO  Î FDQDOODWpUDOLOpPDQHGXFDQDOSULQFLSDOPHWWDQWHQFRPPXQLFDWLRQO¶HQGRGRQWHHWOH GHVPRGRQWH DX QLYHDX GHV GHX[ WLHUV FRURQDLUHV GH OD UDFLQH 6RQ D[H HVW OH SOXV VRXYHQWSHUSHQGLFXODLUHjO¶D[HGHODGHQW  Î FDQDOVHFRQGDLUH,OQDLWjSDUWLUGXFDQDOSULQFLSDODXQLYHDXGXWLHUVDSLFDOVRQD[H HVWSOXW{WREOLTXHSDUUDSSRUWDXFDQDOSULQFLSDO  Î FDQDODFFHVVRLUHF¶HVWXQHUDPLILFDWLRQG¶XQFDQDOVHFRQGDLUH.  .

(92)    $&DQDODFFHVVRLUH %&DQDOVHFRQGDLUH &HW'&DQDX[ODWpUDX[             . )LJXUH/HVGLIIpUHQWHV UDPLILFDWLRQVFDQDODLUHV 'H'HXV 

(93) . 3DUDLOOHXUVGHQRPEUHX[DXWHXUVVHVRQWLQWpUHVVpVjODSUpYDOHQFHGHVFDQDX[DFFHVVRLUHV SRXUWRXVOHVW\SHVGHGHQWV          . 7DEOHDX3UpYDOHQFHGHVFDQDX[DFFHVVRLUHVVHORQGLIIpUHQWVDXWHXUV *XODELYDODHW'DUEDU

(94) . /HV pWXGHV UpDOLVpHV GDQV OHV DQQpHV  PRQWUHQW TXH SUqV GH OD PRLWLp GHV GHQWV H[DPLQpHVSRVVqGHFHW\SHGHFDQDO      . 7DEOHDX3UpYDOHQFHGHVFDQDX[DFFHVVRLUHV =X]DDQG$O

(95) .  3RXUDXWDQWFHFKLIIUHVHUDLWVRXVHVWLPpSXLVTX¶HQO¶pWXGHGH=XJDHWDO 

(96) UpYqOHXQH SUpYDOHQFHQHWWHPHQWSOXVLPSRUWDQWHSXLVTXHOHVFDQDX[DFFHVVRLUHVVRQWSUpVHQWVSRXUOD WRWDOLWpGHVGHQWVGHOHXUpFKDQWLOORQ0rPHVLFHGHUQLHUHVWSOXVIDLEOHSDUUDSSRUWDX[DXWUHV pWXGHVSUpFpGHPPHQWFLWpHVOHVWHFKQLTXHVXWLOLVpHVSDUO¶pTXLSHGH=XJDSRXUGpWHFWHUOHV FDQDX[VRQWSOXVSHUIRUPDQWHVFHTXLSHUPHWHQSDUWLHG¶H[SOLTXHUOHXUVUpVXOWDWV     .

(97) R /¶HVSDFHLQWHUUDGLFXODLUH  /D IXUFDWLRQ GHV PRODLUHV FRPSUHQG GH QRPEUHX[ FDQDX[ DFFHVVRLUHV 6HORQ SOXVLHXUV DXWHXUVFHVFDQDX[DFFHVVRLUHVVHUDLHQWUHWURXYpVGDQVjSOXVGHGHVPRODLUHV 

(98)  

(99)   /HWDEOHDXSUpVHQWHODSUpYDOHQFHGHVFDQDX[DXQLYHDXGHOD]RQHGHIXUFDWLRQ%LHQTXH UHODWLYHPHQWDQFLHQQHVOHVpWXGHVVpOHFWLRQQpHVPRQWUHQWXQHPrPHWHQGDQFHXQHPDMRULWp GHVPRODLUHVSUpVHQWHQWGHVFDQDX[DXQLYHDXGHOD]RQHGHIXUFDWLRQ  /D]RQHGHIXUFDWLRQGHVPRODLUHVUHSUpVHQWHGRQFXQHYRLHGHFRPPXQLFDWLRQWUqVLPSRUWDQWH HQWUHO¶HQGRGRQWHHWOHSDURGRQWH   . )LJXUH/pVLRQHQGRSDURGRQWDOHDYHF DWWHLQWHGHODIXUFDWLRQ 'U60'ULGL

(100) .   7DEOHDX3UpYDOHQFHGHVFDQDX[jODIXUFDWLRQ &RKHQHW +DUJUHDYHV

(101) .    .   R /HVFDQDOLFXOHVGHQWLQDLUHV  (QSOXVGX IRUDPHQDSLFDOHWGHVFDQDX[DFFHVVRLUHV LODpWpVXJJpUpTXHOHVFDQDOLFXOHV GHQWLQDLUHVSUpVHQWHUDLHQWXQHYRLHGHFRPPXQLFDWLRQHQGRSDURGRQWDOHVXSSOpPHQWDLUH  (Q HIIHW OD GHQWLQH HVW FDUDFWpULVpH SDU XQH VWUXFWXUH FDQDOLFXODLUH TXL OXL FRQIqUH VD SHUPpDELOLWpHWVRQDSWLWXGHjUpSRQGUHDX[VWLPXOLH[WHUQHVSK\VLFRFKLPLTXHVWKHUPLTXHV HWWDFWLOHV 

(102)   &HV FDQDOLFXOHV GHQWLQDLUHV FRQWLHQQHQW OH SURORQJHPHQW GH O¶RGRQWREODVWH HW XQ IOXLGH GHQWLQDLUHG¶RULJLQHSXOSDLUH,OVWUDYHUVHQWWRXWHO¶pSDLVVHXUGHODGHQWLQHHWVRQWREWXUpVDX QLYHDXSDURGRQWDOSDUOHFpPHQW 

(103)   ,OVRQWXQGLDPqWUHGHj—PHWXQHORQJXHXUGHjPPGDQVODSDUWLHFRURQDLUH  .

(104) &KDTXHFDQDOLFXOHHVWERUGpSDUXQPDQFKRQGHGHQWLQHFDQDOLFXODLUHVWUXFWXUHPLQpUDOLVpH UpVXOWDQWGHODVpFUpWLRQGHFRPSRVDQWVPDWULFLHOVSDUOHSURORQJHPHQWRGRQWREODVWLTXHGDQV ODOXPLqUHGXFDQDOLFXOH  (QWUHOHVWURQFVGHVFDQDOLFXOHVVHWURXYHODGHQWLQHLQWHUFDQDOLFXODLUHPRLQVPLQpUDOLVpHHW UpVXOWDQWGLUHFWHPHQWGHODPLQpUDOLVDWLRQGHODSUpGHQWLQH$XVHLQGHFHOOHFLOHVUDPLILFDWLRQV VHFRQGDLUHV GHV SURORQJHPHQWV GRQQHQW QDLVVDQFH j GHV EUDQFKHV ODWpUDOHV VHFRQGDLUHV WUDYHUVDQWODGHQWLQHLQWHUFDQDOLFXODLUHHWFUpDQWXQUpVHDXFDQDOLFXODLUHODWpUDOSHUPHWWDQWOHV pFKDQJHV  /HQRPEUHGHFDQDOLFXOHVGpSHQGGHOD]RQHGHQWLQDLUHFRQVLGpUpHHWYDULHGH8PPð jODMRQFWLRQFpPHQW±GHQWLQHj8PPðjO¶DSH[ 

(105)  $XQLYHDXGXWLHUVGHQWLQDLUHPpGLDQFHQRPEUHDYRLVLQHOHV8PPð 

(106)            )LJXUH6XUIDFHGHQWLQDLUHDYHFFDQDOLFXOHV  GHQWLQDLUHV .XQDPHW$O

(107)   &HV FDQDOLFXOHV SHXYHQW rWUH H[SRVpHV GH IDoRQ DFFLGHQWHOOH DX QLYHDX SDURGRQWDOSDU XQ WUDXPDWLVPHXQHOpVLRQFDULHXVHODSHUWHG¶XQHUHVWDXUDWLRQXQHSDWKRORJLH DSSDULWLRQG¶XQH SRFKHSDURGRQWDOHRXG¶XQHPDODGLHSDURGRQWDOH

(108)  RXXQDFWHLDWURJqQH ORUVGHVXUIDoDJHV UpSpWpVSDUH[HPSOH

(109)   'qVORUVLOVGHYLHQQHQWXQHYRLHGHFRPPXQLFDWLRQSULYLOpJLpHSRXUOHVEDFWpULHVHWOHXUVVRXV SURGXLWVPpWDEROLTXHVTXLRQWDORUVDFFqVjXQYpULWDEOHUpVHDXDXVHLQGHODGHQW  R $EHUUDWLRQVFDQDODLUHVRXDQRPDOLHVGHGpYHORSSHPHQW  /H GpYHORSSHPHQW GH OD GHQW HVW XQ SURFHVVXV ELRORJLTXH FRPSOH[H UpJXOp SDU XQH VpULH G¶LQWHUDFWLRQVpSLWKpOLRPpVHQFK\PDWHXVHV'HVSHUWXUEDWLRQVGDQVFHVLQWHUDFWLRQVSHXYHQW DOWpUHU O¶RGRQWRJpQqVH HW SURYRTXHU XQ GpYHORSSHPHQW DQRUPDO 6HORQ OH VWDGH GH GpYHORSSHPHQWGHODGHQWRHOOHVLQWHUYLHQQHQWFHVDQRPDOLHVSHXYHQWFRQFHUQHUOHQRPEUH GHUDFLQHVRXFDQDX[OHXUWDLOOHHWRXOHXUIRUPH  /HV DQRPDOLHV LQFOXHQW OH SOXV VRXYHQW OHV GLODFpUDWLRQV GHQWDLUHV XQ WDXURGRQWLVPH XQH G\VSODVLH GHQWLQDLUH W\SH , GHV VLOORQV SDODWRJLQJLYDO XQH UDFLQH ©HQ &ª GHV 'HQV LQYDJLQDWXVRXHQFRUHXQHIXVLRQUDGLFXODLUH&HUWDLQHVGHFHVDQRPDOLHVVRQWVXVFHSWLEOHV G¶HQWUDLQHUGHVFRPPXQLFDWLRQVHQWUHO¶HQGRGRQWHHWOHSDURGRQWH 

(110)      .  .

(111) (Q FRQFOXVLRQ FKDTXH GHQW FRPSUHQG GH QRPEUHXVHV YRLHV GH FRPPXQLFDWLRQ SK\VLRORJLTXHVHQWUHVDSDUWLHLQWHUQHODSXOSHHWVDSDUWLHH[WHUQHOHSDURGRQWH  &HVYRLHVpYROXHQWDYHFOHWHPSV$YHFO¶kJHOHIRUDPHQDSLFDOYRLWVRQGLDPqWUHGLPLQXHU QRWDPPHQWjFDXVHGHO¶DSSRVLWLRQGHFpPHQWVHFRQGDLUH/HQRPEUHGHFDQDX[DFFHVVRLUHV GLPLQXHpJDOHPHQWHWODGHQWLQHUDGLFXODLUHGHYLHQWPRLQVSHUPpDEOHjFDXVHGHODIRUPDWLRQ GHGHQWLQHVFOpURWLTXH$WHUPHOHVFDQDOLFXOHVGHQWLQDLUHVV¶REWXUHQWQRWDPPHQWGDQVOHWLHUV DSLFDO  7RXWHVFHVGRQQpHVH[SOLTXHQWSRXUTXRLXQHGHQWMHXQHHVWSOXVVXVFHSWLEOHDX[SURSDJDWLRQV SDWKRORJLTXHVHQWUHO¶HQGRGRQWHHWOHSDURGRQWHLQIODPPDWRLUHVHWLQIHFWLHXVHVTX¶XQHGHQW G¶XQVXMHWkJp 

(112)   3DUDLOOHXUVLOHVWLPSRUWDQWGHQHMDPDLVRPHWWUHO¶H[LVWHQFHGHVUDPLILFDWLRQVDFFHVVRLUHVTXL DFFHQWXHQWOHVOLHQVpWURLWVHQWUHO¶HQGRGRQWHHWOHSDURGRQWH  (Q HIIHW ORUVTX¶XQ SDWLHQW HVW DWWHLQW G¶XQH PDODGLH SDURGRQWDOH OH GpYHORSSHPHQW G¶XQH SRFKHSDURGRQWDOHSHXWSURYRTXHUO¶H[SRVLWLRQG¶XQFDQDOVHFRQGDLUHODWpUDORXDFFHVVRLUHHW IDYRULVHUDLQVLODGLIIXVLRQGHVPLFURRUJDQLVPHVHWGHOHXUVVRXVSURGXLWVPpWDEROLTXHVYHUV ODSXOSH 

(113)   'HPrPHOHVIXUFDWLRQVGHVPRODLUHVGRLYHQWrWUHFRQVLGpUpHVFRPPHGHV]RQHVjULVTXHHQ UDLVRQ GHV QRPEUHXVHV YRLHV GH FRPPXQLFDWLRQV HQGRSDURGRQWDOH TXL H[LVWHQW j OHXUV QLYHDX[              )LJXUHSUpVHQWDQWXQHOpVLRQ )LJXUH&OLFKpUDGLRJUDSKLTXHGH ODDYHFFRQHGHJXWWDSHUFKD HQGRSDURGRQWDOHDYHFSUpVHQFHG XQ  GDQVODILVWXOH 'U60'ULGL

(114)  VLOORQYHVWLEXODLUH 'U60'ULGL

(115)     9RLHVQRQSK\VLRORJLTXHV /¶DSSDULWLRQGHYRLHVGHFRPPXQLFDWLRQQRQSK\VLRORJLTXHVHQWUHO¶HQGRGRQWHHWOHSDURGRQWH RQWSRXURULJLQHXQpYqQHPHQWWUDXPDWLTXHRXLDWURJqQH  'DQV OHV GHX[ FDV FHOD SHXW FRQGXLUH j XQH SHUIRUDWLRQ IrOXUH IUDFWXUH HW  RX UpVRUSWLRQ UDGLFXODLUH      .

(116) R 3HUIRUDWLRQUDGLFXODLUH  8QH SHUIRUDWLRQ UDGLFXODLUH SHXW VXUYHQLU ORUV G¶XQ WUDLWHPHQW HQGRGRQWLTXH RX ORUV GH OD SUpSDUDWLRQ SRXU DQFUDJH UDGLFXODLUH &HW DFWH LDWURJqQH HQWUDLQH DORUV XQH FRPPXQLFDWLRQ HQWUHOHV\VWqPHFDQDODLUHHWOHOLJDPHQWSDURGRQWDO  /HSURQRVWLFGH FHVOpVLRQVHVWH[WUrPHPHQWYDULDEOHHWGpSHQGGHOHXUDQFLHQQHWpWDLOOH ORFDOLVDWLRQHWDFFHVVLELOLWpTXLUHQGSRVVLEOHOHXUSULVHHQFKDUJH/RUVTXHFHW\SHGHOpVLRQ VHVLWXHDXPLOLHXGHODUDFLQHRXjVRQWLHUDSLFDOOHVFKDQFHVGHJXpULVRQDXJPHQWHQW 

(117)  $XMRXUG¶KXL O¶XWLOLVDWLRQ GHV VLOLFDWHV WULFDOFLTXHV WHO TXH OH 0LQHUDO 7ULR[LGH $JJUHJDWH 3UR5RRW07$

(118) RXOHVELRFpUDPLTXHVSHUPHWGHJpUHUHIILFDFHPHQWFHVOpVLRQVORUVTX¶HOOHV VRQWPLQHXUHV         . )LJXUH3HUIRUDWLRQUDGLFXODLUH 3U-'2UWKOLHE

(119) . R )rOXUHRXIUDFWXUHUDGLFXODLUH  /HVIUDFWXUHVRXIrOXUHVUDGLFXODLUHVSHXYHQWVXUYHQLUORUVG¶XQWUDXPDWLVPHWHOTX¶XQFKRFXQ WUDXPDWLVPHRFFOXVDORXHQFRUHXQHSDUDIRQFWLRQWHOTXHOHEUX[LVPH  (OOHVSHXYHQWpJDOHPHQWVXUYHQLUjODVXLWHG¶XQDFWHLDWURJqQHORUVGHODGpSRVHRXORUVGH OD UpDOLVDWLRQ G¶XQH UHFRQVWLWXWLRQ FRURQR UDGLFXODLUH FRXOpH RX HQFRUH rWUH OLpH j OD VXUSUHVVLRQHQJHQGUpHSDUODWHFKQLTXHG¶REWXUDWLRQSDUFRQGHQVDWLRQ  'HVIUDFWXUHVKRUL]RQWDOHVHWGHVIUDFWXUHVYHUWLFDOHVSHXYHQWrWUHREVHUYpHV/HVIUDFWXUHV KRUL]RQWDOHVDSSDUDLVVHQWJpQpUDOHPHQWjODVXLWHG¶XQWUDXPDWLVPHWDQGLVTXHOHVIUDFWXUHV YHUWLFDOHVSHXYHQWrWUHODFRQVpTXHQFHG¶XQDFWHLDWURJqQH  ,OHVWpJDOHPHQWSRVVLEOHG¶REVHUYHUGHVIUDFWXUHVLQGXLWHVSDUXQHUpVRUSWLRQUDGLFXODLUH  &OLQLTXHPHQWFHW\SHGHOpVLRQVHWUDGXLWSDUXQVRQGDJHSURIRQGHWSRQFWXHOUHODWDQWXQH SHUWH G¶RV HQ UHJDUG GH OD IUDFWXUH /H VLJQH IRQFWLRQQHO pYRFDWHXU HVW XQH GRXOHXU j OD PDVWLFDWLRQ 5DGLRJUDSKLTXHPHQW LO HVW GLIILFLOH GH OHV REVHUYHU DYHF XQ FOLFKp FRQYHQWLRQQHO 8Q FRQH EHDP FRPSXWHG WRPRJUDSK\ &%&7

(120)  HVW VRXYHQW QpFHVVDLUH SRXU O¶pWDEOLVVHPHQW GX GLDJQRVWLFGHFHUWLWXGH 

(121) .  .

(122)       )LJXUH)UDFWXUHUDGLFXODLUH 3U-'2UWKOLHE

(123) .  . )LJXUH)UDFWXUHYHUWLFDOHVXUXQH SLOLHUGHEULGJHYLVLEOHDYHFXQFOLFKp PpVLRH[FHQWUp 3U(0HGLRQL

(124) .  /H SURQRVWLF GHV GHQWV IUDFWXUpHV HVW PDXYDLV HW O¶DYXOVLRQ UHSUpVHQWH PDOKHXUHXVHPHQW O¶DOWHUQDWLYHWKpUDSHXWLTXHODSOXVSUREDEOH $YDQWTXHO¶H[WUDFWLRQQHVRLWHIIHFWXpHODIrOXUHRXIUDFWXUHUHSUpVHQWHXQSDVVDJHSULYLOpJLp SRXUOHVPLFURRUJDQLVPHVGHO¶HQGRGRQWHYHUVOHSDURGRQWHHWYLFHYHUVDDXJPHQWDQWjFRXUW WHUPHOHVULVTXHVGHGpYHORSSHUXQHOpVLRQHQGRSDURGRQWDOH  R 5pVRUSWLRQUDGLFXODLUH  8QHUpVRUSWLRQUDGLFXODLUHSHXWrWUHH[WHUQHRXLQWHUQH ƒ ([WHUQH 8QH UpVRUSWLRQ UDGLFXODLUH H[WHUQH SHXW DIIHFWHU OHV GHQWV YLYDQWHV HW GpYLWDOLVpHV SOXV VXVFHSWLEOHVDX[UpVRUSWLRQVGXIDLWGHO¶DEVHQFHGHODSXOSHFRPPHPR\HQGHGpIHQVH &HSURFHVVXVSDWKRORJLTXHJpQqUHXQHSHUWHGXFpPHQWGHODGHQWLQHHWGHO¶RVELHQVRXYHQW LUUpYHUVLEOH FRQVpTXHQFH G¶XQH DFWLYLWp FpPHQWRFODVWLTXH RGRQWREODVWLTXH HW  RX RVWpRFODVWLTXH ,O V¶DJLW G¶XQH UpDFWLRQ LQIODPPDWRLUH SRXYDQW SURYRTXHU O¶DSSDULWLRQ G¶XQH FRPPXQLFDWLRQ HQWUHO¶HQGRGRQWHHWOHSDURGRQWH /¶pWLRORJLH GHV UpVRUSWLRQV H[WHUQHV HVW PXOWLIDFWRULHOOH WUDXPD OX[DWLRQ UpLPSODQWDWLRQ

(125)  LQIODPPDWLRQSpULDSLFDOHRXSDURGRQWDOHWUDLWHPHQWRUWKRGRQWLTXHFKLUXUJLHGHQWRDOYpRODLUH WUDLWHPHQWSDURGRQWDOWUDXPDRFFOXVDOPDORFFOXVLRQPDOIRUPDWLRQGHODUDFLQH 3RXUTX¶XQHUpVRUSWLRQUDGLFXODLUHH[WHUQHDSSDUDLVVHGHX[IDFWHXUVGRLYHQWrWUHDVVRFLpV XQHOpVLRQHWXQHVWLPXODWLRQGHO¶DFWLYLWpFODVWLTXH 

(126)  /HVUpVRUSWLRQVH[WHUQHVSHXYHQWrWUHFODVVLILpHVGHODPDQLqUHVXLYDQWH . . 5pVRUSWLRQGHVXUIDFHLOV¶DJLWG¶XQHUpVRUSWLRQUDGLFXODLUHGLVFUqWHVXSHUILFLHOOHHWOLPLWpH TXL YD FRQFHUQHU OD FRXFKH SURIRQGH GX OLJDPHQW HW OH FpPHQW &H VRQW GHV OpVLRQV UpYHUVLEOHVTXLSHXYHQWVHUpSDUHUVSRQWDQpPHQWSDUDSSRVLWLRQFpPHQWDLUH  5pVRUSWLRQ LQIODPPDWRLUH &HV UpVRUSWLRQV VRQW OHV SOXV IUpTXHPPHQW UHQFRQWUpHV HW SHXYHQW FRQFHUQHU Q¶LPSRUWH TXHOOH ]RQH GH OD UDFLQH (OOHV VH SUpVHQWHQW VRXV IRUPH G¶XQH H[FDYDWLRQ GX FpPHQW HW GH OD GHQWLQH GXH j OD GHVWUXFWLRQ GH OD EDUULqUH GH SURWHFWLRQGXFpPHQW,OVHPHWDORUVHQSODFHXQHLQIODPPDWLRQSDURGRQWDOHFKURQLTXH&H W\SHGHUpVRUSWLRQSHXWrWUHWUDQVLWRLUHVLODGHQWHVWWUDLWpHRXGHYHQLUpYROXWLYH . .

(127) . 5pVRUSWLRQGHUHPSODFHPHQWHWDQN\ORVHGHQWRDOYpRODLUHGDQVFHVFDVGHUpVRUSWLRQV ODUDFLQHUpVRUEpHHVWUHPSODFpHSDUGHO¶RV 

(128)   (QFHTXLFRQFHUQHODFUpDWLRQG¶XQHYRLHGHFRPPXQLFDWLRQHQWUHO¶HQGRGRQWHHWOHSDURGRQWH QRXVUHWLHQGURQVGHFHWWHFODVVLILFDWLRQGHVUpVRUSWLRQVH[WHUQHVODUpVRUSWLRQLQIODPPDWRLUH (Q HIIHW OHV GHX[ DXWUHV W\SHV GH UpVRUSWLRQV H[WHUQHV LPSOLTXHQW XQH UpSDUDWLRQ RX OH UHPSODFHPHQWGXWLVVXGHQWDLUHSDUXQWLVVXRVVHX[FHTXLHPSrFKHUDDORUVODIRUPDWLRQG¶XQH FRPPXQLFDWLRQHQWUHO¶HQGRGRQWHHWOHSDURGRQWH /HWUDLWHPHQWGHFHVUpVRUSWLRQVFRQVLVWHHQODVXSSUHVVLRQGHODFDXVH QRWDPPHQWGDQVOHV FDV GH UpVRUSWLRQV GXHV j XQ WUDLWHPHQW RUWKRGRQWLTXH

(129)  HW  RX OH FXUHWDJH GX WLVVX GH JUDQXODWLRQHWO¶REWXUDWLRQGXGpIDXWDLQVLTX¶XQWUDLWHPHQWHQGRGRQWLTXHVHORQOHVVLWXDWLRQV FOLQLTXHV 

(130)   ƒ ,QWHUQH 8QH UpVRUSWLRQ UDGLFXODLUH LQWHUQH HQFRUH DSSHOpH UpVRUSWLRQ LQWUDFDQDODLUH HVW XQ SKpQRPqQHSDWKRORJLTXHTXLUpVXOWHG¶XQHG\VWURSKLHGHODSXOSHDPHQDQWjXQHGHVWUXFWLRQ GHVWLVVXVGXUVGHODGHQW(OOHVVHUHQFRQWUHQWOHSOXVVRXYHQWDXWLHUVPpGLDQGXFDQDOSOXV UDUHPHQWGDQVOD]RQHDSLFDOH &¶HVW XQ SKpQRPqQH UHODWLYHPHQW UDUH VD SUpYDOHQFH HVW G¶HQYLURQ  HW SHXW DIIHFWHU Q¶LPSRUWHTXHOOHGHQWPDLVDYHFXQHSUpGLOHFWLRQSRXUOHVLQFLVLYHV /HVUpVRUSWLRQVLQWHUQHVSHXYHQWrWUHWUDQVLWRLUHVVRXYHQWREVHUYpHVjODVXLWHG¶XQFKRFRX DSUqVXQWUDLWHPHQWRUWKRGRQWLTXHRXSDURGRQWDO'DQVFHFDVRQREVHUYHDXQLYHDXGHOD ]RQHOpVpHXQHGHVWUXFWLRQGHVRGRQWREODVWHVHWXQHPLQpUDOLVDWLRQGHODSUpGHQWLQH/D]RQH DWWHLQWHYD©VHUpSDUHUªOHVFHOOXOHVSXOSDLUHVGHUHODLVYRQWVpFUpWHUXQHQRXYHOOHPDWULFH GHQWLQDLUH /HV UpVRUSWLRQV LQWHUQHV SHXYHQW pJDOHPHQW rWUH pYROXWLYHV ORUVTX¶HOOHV VRQW VWLPXOpHV QRWDPPHQW SDU XQH LQYDVLRQ PLFURELHQQH j WUDYHUV OHV WXEXOL GHQWLQDLUHV YHUV OH VLWH GH QpFURVHSXLVSURJUHVVLRQYHUVODSXOSHYLWDOH  /HVUpVRUSWLRQVLQWHUQHVVHGLYLVHQWHQGHX[JURXSHV  5pVRUSWLRQV GH UHPSODFHPHQW OD GHQWLQH HVW UHPSODFpH SDU XQ WLVVX GXU W\SH RVWpR GHQWLQH  5pVRUSWLRQV LQIODPPDWRLUHV RQ REVHUYH XQH UpVRUSWLRQ UpJXOLqUH GH OD GHQWLQH VDQV PLQpUDOLVDWLRQ GH UHPSODFHPHQW /¶HVSDFH HVW HQYDKL SDU XQ WLVVX GH JUDQXODWLRQ TXL HQWUHWLHQWDORUVOHSKpQRPqQHGHUpVRUSWLRQ 

(131)               )LJXUH5pVRUSWLRQLQWHUQHVXUXQH   .

(132) 'H PrPH TXH SRXU OHV UpVRUSWLRQV H[WHUQHV QRXV UHWLHQGURQV TXH OHV UpVRUSWLRQV LQIODPPDWRLUHVSHXYHQWUHSUpVHQWHUXQHpWLRORJLHSRVVLEOHG¶XQHOpVLRQHQGRSDURGRQWDOH  R /pVLRQFDULHXVHUDGLFXODLUH /H GpYHORSSHPHQW G¶XQH OpVLRQ FDULHXVH DX QLYHDX GH OD UDFLQH SHXW HQWUDLQHU O¶DSSDULWLRQ G¶XQHFRPPXQLFDWLRQHQWUHO¶HQGRGRQWHHWOHSDURGRQWHQRWDPPHQWVLFHWWHOpVLRQFDULHXVH DWWHLQWOHFDQDOUDGLFXODLUH 

(133)   3RXU FRQFOXUH OHV FRPPXQLFDWLRQV QRQ SK\VLRORJLTXHV QH VRQW SDV UDUHV /HXU GpWHFWLRQ SUpFRFHHVWSULPRUGLDOHDILQGHOLPLWHUOHVGHVWUXFWLRQVWLVVXODLUHVLUUpYHUVLEOHV . /HVOpVLRQVHQGRSDURGRQWDOHV 'pILQLWLRQHWDVSHFWVFOLQLTXHV 8QHOpVLRQ©HQGRSDURGRQWDOHªFRUUHVSRQGjXQH FRPPXQLFDWLRQSDWKRORJLTXHHQWUHOD SXOSHHWOHVWLVVXVSDURGRQWDX[G¶XQHVHXOHHWPrPHGHQWSURYRTXDQWXQHGHVWUXFWLRQGHVHV V\VWqPHVG¶DWWDFKHHWG¶DQFUDJH(OOHVHPDQLIHVWHGHPDQLqUHDLJXHRXFKURQLTXHHWLPSOLTXH XQH QpFURVH GH OD GHQW VHSWLTXH RX DVHSWLTXH DYHF DSSDULWLRQ G¶XQH OpVLRQ LQIODPPDWRLUH G¶RULJLQHHQGRGRQWLTXH /,32(

(134) DVVRFLpHjXQHOpVLRQSDURGRQWDOHG¶RULJLQHEDFWpULHQQH 

(135)  &HWWHLQIHFWLRQFURLVpHHQWUHO¶HQGRGRQWHG¶XQHSDUWHWOHSDURGRQWHG¶DXWUHSDUWVHUpDOLVHYLD XQHYRLHGHFRPPXQLFDWLRQTXLGpWHUPLQHOHPRGHGHSURSDJDWLRQGHO¶LQIHFWLRQ8QHLQIHFWLRQ G¶RULJLQH SDURGRQWDOH SURGXLW XQH GHVWUXFWLRQ GH O¶RV GH OD FRXURQQH YHUV O¶DSH[ GH OD GHQW WDQGLVTX¶XQHLQIHFWLRQG¶RULJLQHHQGRGRQWLTXHHQWUDLQHXQHGHVWUXFWLRQGHO¶RVGHO¶DSH[YHUV ODFRXURQQH 

(136)  /DIRUPHDLJXHVXUYLHQWORUVTX¶XQHOpVLRQHQGRSDURGRQWDOHIDLWVXLWHjXQWUDXPDRXXQDFWH LDWURJqQHHQWUDLQDQWXQHIUDFWXUHRXSHUIRUDWLRQODPDQLIHVWDWLRQFOLQLTXHODSOXVFRPPXQH HVWO¶DSSDULWLRQG¶XQDEFqVDFFRPSDJQpG¶XQHIRUWHGRXOHXU/DIRUPHFKURQLTXHDSSDUDLWFKH] XQSDWLHQWDWWHLQWG¶XQHSDURGRQWLWHLQGXLWHSDUODSODTXHGHQWDLUHHWSUpVHQWDQWXQHQpFURVH SXOSDLUH VXU OD GHQW FRQFHUQpH OD OpVLRQ HQGRSDURGRQWDOH pYROXH j EDV EUXLW VDQV VLJQHV FOLQLTXHVpYLGHQWV 

(137)   /HGLDJQRVWLFGHFHVOpVLRQVLPSRVHOHVH[DPHQVVXLYDQWV R DQDPQqVH HW KLVWRULTXH EXFFRGHQWDLUH GX SDWLHQW UHFKHUFKH G¶DQWpFpGHQWV GH OpVLRQV HQGRGRQWLTXHVHWRXSDURGRQWDOHVQRWDPPHQW R pYDOXDWLRQGHVV\PSW{PHVGRXOHXUJrQHIRQFWLRQQHOOHGROpDQFHHVWKpWLTXH R pYDOXDWLRQGHO¶pWDWJpQpUDO R pYDOXDWLRQ GX SDURGRQWH FRXOHXU WH[WXUH SUpVHQFH G¶pFRXOHPHQW SUpVHQFH G¶XQ VDLJQHPHQW HWRX G¶XQH ILVWXOH 6RQGDJH SDURGRQWDO j O¶DLGH G¶XQH VRQGH SDURGRQWDOH JUDGXpHjERXWPRXVVH LOFRQYLHQGUDGHUpDOLVHUXQVRQGDJHGHWRXWOHTXDGUDQWFRQFHUQp DILQGHFRPSDUHUODVpYpULWpGHO¶DWWHLQWH

(138)         )LJXUH6RQGDJHG¶XQH/(3 'U60'ULGL

(139)    .

(140) R H[DPHQ GHQWDLUH FOLQLTXH YLVXHO UHFKHUFKH GH IrOXUH  IUDFWXUH DYHF RX VDQV DLGHV RSWLTXHVWHVWGHVHQVLELOLWpSXOSDLUHFRQWU{OHGHO¶RFFOXVLRQ R H[DPHQUDGLRORJLTXHUDGLRORJLHUpWURDOYpRODLUHHW&%&7OHFDVpFKpDQW 

(141)   $O¶LVVXGHFHVH[DPHQVOHFOLQLFLHQSHXWLQWHUSUpWHUOHVpOpPHQWVGLDJQRVWLTXHVOHVXQVDYHF OHVDXWUHVHWGpWHUPLQHUV¶LOV¶DJLWRXQRQG¶XQHOpVLRQHQGRSDURGRQWDOH  /HVVLJQHVFOLQLTXHVHWV\PSW{PHVOHVSOXVVRXYHQWUHQFRQWUpVGDQVOHFDVG¶XQHOpVLRQHQGR SDURGRQWDOHVRQWODSUpVHQFHG¶XQHSRFKHSDURGRQWDOHSURIRQGHSURFKHRXDWWHLJQDQWO¶DSH[ HWG¶XQHUpSRQVHIDLEOHRXQpJDWLYHDXWHVWGHYLWDOLWpSXOSDLUH/HVDXWUHVVLJQHVFOLQLTXHVTXH O¶RQSHXWUHQFRQWUHUVRQWSDURUGUHGHSUpYDOHQFH R XQHUpVRUSWLRQRVVHXVHjO¶DSH[RXDXQLYHDXGHODIXUFDWLRQ R XQHGRXOHXUVSRQWDQpHRXjODSDOSDWLRQRXSHUFXVVLRQ R XQHVXSSXUDWLRQSXUXOHQWH R XQHPRELOLWpGHQWDLUH R XQHLQIODPPDWLRQGHODPXTXHXVHVLQXVLHQQH R XQHDOWpUDWLRQGHODFRORUDWLRQGHODFRXURQQHRXGHODJHQFLYH 

Références

Documents relatifs

the parametric intensity estimator, no significant interaction is occurring between the locations of prescribed burns and wildfires of the current or subsequent year. Just because

Rapporteur Zoubir Khatir Directeur de recherche - IFSTTAR, Versailles Membre Jean-François Barbot Professeur des Universités - Université de Poitiers Membre Gabriel Ferro Directeur

Le projet mis en place autour de la méthode de l’utilisateur extraordinaire a permis de répondre à ces deux enjeux en même temps : en effet, au lieu de chercher à

That the report focuses on the cooperation activities carried out by the Institute in 2004 and highlights important programmatic, budgetary and financial aspects of institutional

In February 2007, the Working Group charged with the elaboration of a process to draft international rules and procedures for liability and redress under the Cartagena

Enfin, il est à noté que dès la première séance, et donc même si le PE ne l’avait pas demandé expressément, les élèves sont intervenus par rapport aux

(Section 3.2) designed to achieve condenser conditions (the inlet conditions to the expansion valve), a main pressure vessel (Section 3.3) sustained at

The development of the integrative system dynamics model of software development project management constitutes the following set of accomplishments:. The mathematical