Gebruiksaanwijzing PANASONIC TX-21AP1F

[. . . ] [. . . ] FRPSDWLEHOH 9&5 DDQVOXLW PRHW X KHW RYHUEUHQJHQ KDQGPDWLJ LQ ZHUNLQJ VWHOOHQ 5DDGSOHHJ XZ 9&5KDQGOHLGLQJ YRRU PHHU LQIRUPDWLH : *HEUXLN JHHQ RXGH HQ QLHXZH EDWWHULMHQ GRRU HONDDU 9HUZLMGHU OHJH EDWWHULMHQ RQPLGGHOOLMN : *HEUXLN QLHW YHUVFKLOOHQGH W\SHQ EDWWHULMHQ GRRU HONDDU GZ] DONDOLQH HQ PDQJDDQEDWWHULMHQ JHEUXLN JHHQ QLNNHOFDGPLXPDFFXjV %(', (1, 1*6)81&7, (6 (1 $$16/8, 7, 1*(1 )URQWSDQHHO 1HWYRHGLQJ $$18, 7VFKDNHODDU 5RRG OLFKW EHWHNHQW 6WDQGE\PRGXV *HEUXLN GH VWDQGE\WRHWV RI WRHWVHQ RP GH 79 LQ WH VFKDNHOHQ :RUGW JHEUXLNW YRRU KHW RSVODDQ YDQ DIVWHP HQ DQGHUH IXQFWLHLQVWHOOLQJHQ 675 ) IXQFWLHNHX]H 6FKHUPIXQFWLHV KHUKDOHQG LQGUXNNHQ RP GH YROJHQGH IXQFWLHV WH NLH]HQ YROXPH FRQWUDVW KHOGHUKHLG NOHXU VFKHUSWH WLQW LQ 176&PRGXV ODDJ KRRJ EDODQV HQ DIVWHPPRGXV +RRIGWHOHIRRQDDQVOXLWLQJ ]LH SDJLQD  5&$ DXGLRYLGHRDDQVOXLWLQJHQ ]LH SDJLQD  79$9VFKDNHODDU ]LH SDJLQD  +LHUPHH ZRUGW GH SURJUDPPDSRVLWLH VWHHGV HHQ ]HQGHU YHUKRRJG RI YHUODDJG $OV HHQ IXQFWLH UHHGV ZRUGW ZHHUJHJHYHQ GH WRHWV LQGUXNNHQRP GH JHVHOHFWHHUGH IXQFWLH WH YHUKRJHQ RI WH YHUODJHQ $IVWDQGVEHGLHQLQJ , QGUXNNHQ RP GH 79 LQ WH VFKDNHOHQ RI XLW WH VFKDNHOHQ VWDQGE\ 7RHWVHQ YRRU GH LQVWHOOLQJ YDQ GH JHNR]HQ IXQFWLH , QGLHQ JHHQ IXQFWLH JHNR]HQ LV ZRUGW KHW YROXPH LQJHVWHOG )XQFWLHNHX]H , QGUXNNHQ RP LQ KHW EHHOGVFKHUPPHQX WH JDDQ ]LH SDJLQD  'RRU GH 1WRHWV LQ WH GUXNNHQ ZRUGHQ GH LQVWHOOLQJHQ XLW KHW 675JHKHXJHQ RSJHURHSHQ RS GH YRRU]LMGH YDQ GH 79 6OXLWHQ YDQ GH PHQXJHJHYHQV RS KHW VFKHUP 1XPHULHNH WRHWVHQ YRRU GH ZLM]LJLQJ YDQ SURJUDPPDSRVLWLH GH GLUHNWH NDQDDONHX]H KHW LQJHYHQ YDQ WHOHWHNVWSDJLQDjV GH GH *HOXLG $DQ8LW 'LUHFWH RSQDPHWRHWV DFWLYHHUW 4/LQN 6WDWXVWRHWV LQGUXNNHQ YRRU ZHHUJDYH YDQ GH SURJUDPPDSRVLWLH KHW NDQDDOQXPPHU WLMG GH VWHUHRPRGXV VWHUHR PRQR 0 0 GH SURJUDPPDQDDP XLW WHOHWHNVW . HX]H YDQ KHW ODJHUH RI KRJHUH NDQDDOQXPPHU NHX]H YDQ KHW GHHODDQERG LQ KHW PHQX YHUVFKXLYLQJ YDQ GH WHOHWHNVWSDJLQDjV . HX]HVFKDNHODDU $9EHGLHQLQJ RI 79 NLMNHQ PHHU SDJLQDjV D  2SVODJHQ EHYHVWLJHQ YDQ GH VFKHUPJHJHYHQV . LH]HQ YDQ ]HQGHUSRVLWLHV PHW EHKXOS YDQ GH QXPHULHNH WRHWVHQ 7HOHWHNVWWRHWVHQ ]LH SDJLQD  'LUHFWH NDQDDOLQJDYH LQGUXNNHQ HQ PHW EHKXOS YDQ GH QXPHULHNH WRHWVHQ KHW NDQDDOQXPPHU LQJHYHQ , QGLHQ X GH NDQDDO LQ GH k+\SHUl ]RQH GRRU GH GLUHNWH NHX]H ZLOW LQJHYHQ NDEHOWHOHYLVLH GH WRHWVHQ YDQ GH GLUHFWH NDQDDONHX]H HQ YDQ GH SURJUDPPDSRVLWLHNHX]H l&l k l QDDU HONDDU LQGUXNNHQ HQ PHW EHKXOS YDQ GH QXPHULHNH WRHWV KHW QXPPHU LQJHYHQ 9&5WRHWVHQ ]LH SDJLQD  %((/'6&+(500(186758&7885 +RRIGPHQX . RQWUDVW +HOGHUKHLG . OHXU 6FKHUSWH 7LQW DOOHHQ 176& 7LPHU *HOXLG , QVWHOOLQJHQ , QVWHOOLQJHQ 7 HOHWH[W 8LW )RUPDDW . OHXU V\VWHHP $9 9RO FRUUHFWLH $9 4 /LQN $IVWHP PHQX 79 7 DDONHX]H 7 DDONHX]H $73 ZDDUVFKXZLQJ 'HXWVFK (QJOLVK )UDQDLV , WDOLDQR (//+1, . $ (VSDÆRO 1RUVN 'DQVN 6YHQVND 1HGHUODQGV 6XRPL 7ÚUNH 3RUWXJXûV $IVWHP PHQX $73 +DQG DIVWHP 79 V\VWHHP )LMQDIVWHPPLQJ 9HUZLVVHO . OHXU V\VWHHP 79 'HFRGHU $9 4 /LQN 9RO FRUUHFWLH 79 6ORW 8LW $DQ 79 9HUZLVVHO +DQG DIVWHP 6& ) /DQG 'HXWVFKODQG )UDQFH , WDOLD (VSDÆRO 1HGHUODQGV (8 $73 $XWR :HVW 2RVW *HOXLG 9ROXPH /DDJ +RRJ %DODQV 03; 79 6WDQG $, 8LW $DQ 0X]LHN 6SUDDN 6WHUHR 0RQR 0 0 $872 3$/ 6(&$0 0176& 176& 8LW $DQ $XWR 3$/ 6(&$0 9&5 8LW $DQ *(%58, . 9&5RSQDPH YDQ H[WHUQH 9&5 *HHQ RSQDPH 7$3( %(6&+$', *'" *HHQ RSQDPH *((1 %521 %(6&+, . %$$5 *H]DPHQOLMNH DIVWHPJHJHYHQV JHEUXLNHQ 2P HU ]HNHU YDQ WH ]LMQ GDW GH MXLVWH RSQDPHV JHPDDNW ZRUGHQ PRHWHQ GH WHOHYLVLH HQ GH 9&5 RYHU GH]HOIGH DIVWHPJHJHYHQV EHVFKLNNHQ ]LH SDJLQD - 7HONHQV ZDQQHHU GH $XWRPDWLVFKH LQVWHOIXQFWLH $73 JHEUXLNW ZRUGW ZRUGHQ GH DIVWHPJHJHYHQV QDDU GH 9&5 JHVWXXUG $XWR 3RZHU )XQFWLHV %LM 3DQDVRQLF 4/LQN9&5jV ]LMQ GH YROJHQGH H[WUD IXQFWLHV EHVFKLNEDDU - :DQQHHU X HHQ WDSH LQ XZ 9&5 VWRSW HQ RS GH 3OD\WRHWV GUXNW VFKDNHOW GH WHOHYLVLH DXWRPDWLVFK LQ HQ ZRUGW GH $9LQJDQJ JHVHOHFWHHUG ]RGDW X GH WDSH NXQW EHNLMNHQ - , QGLHQ X GH WHOHYLVLH XLWVFKDNHOW WHUZLMO GH 9&5 RS 6WRS )DVW )RUZDUG RI 5HZLQG VWDDW VWRS YHUVQHOG YRRUXLW DFKWHU VSRHOHQ ZRUGW GH 9&5 DXWRPDWLVFK XLWJHVFKDNHOG 8LWVFKDNHOHQ YDQ GH 4/LQNFRPPXQLFDWLH %HODQJULMNH RSPHUNLQJ $OV X JHHQ JHEUXLN ZLOW PDNHQ YDQ GH 4/LQNIXQFWLH JDDW X QDDU , QVWHOOLQJHQ HQ ]HW X GH 4/LQNRSWLH RS k8LWl 1LHW DOOH 9&5jV RQGHUVWHXQHQ GLW GDWDFRPPXQLFDWLHV\VWHHP 6RPPLJH NXQQHQ EHSDDOGH IXQFWLHV RQGHUVWHXQHQ PDDU DQGHUH QLHW 5DDGSOHHJ XZ 9&5KDQGOHLGLQJ YRRU PHHU LQIRUPDWLH , QGLHQ 4/LQN QLHW IXQFWLRQHHUW PRHW X HHUVW FRQWUROHUHQ RI X RYHU HHQ kIXOO IXQFWLRQl 6&$57YHUELQGLQJ EHVFKLNW , QIRUPHHU KLHURYHU ELM XZ GHDOHU *(*(9(16 . 23, ø5(1 1$$5 '( 9&5 4 /LQN 0HW GH RSWLH 4/LQN NXQW X DOOH JHJHYHQV RYHU GH DIJHVWHPGH SURJUDPPDjV YDQ GH 79 QDDU KHW 9&5JHKHXJHQ NRSLùUHQ 'H k)lWRHWV LQGUXNNHQ 'H RSWLH , QVWHOOLQJHQ NLH]HQ 1DDU GH RSWLH , QVWHOOLQJHQ JDDQ 'H RSWLH $IVWHP PHQX NLH]HQ 1DDU GH RSWLH $IVWHP PHQX JDDQ 79 9&5 3URJUDPPH 'H RSWLH 4/LQN NLH]HQ 4/LQN VWDUWHQ 2SPHUNLQJ 7LMGHQV KHW FRSLùUHQ YDQ GH JHJHYHQV LV GH DIVWDQGVEHGLHQLQJ QLHW DFWLHI $9 6(/(&7, ( (1 $9 , 167(//, 1* F 'UXN GH k79$9lWRHWV LQ RP GH $9PRGH WH NLH]HQ , QGLHQ RS GH $9FRQQHFWRUV HHQ DQGHU WRHVWHO DDQJHVORWHQ LV 9&5 VDWHOOLHWRQWYDQJHU FDPFRUGHU HD ]LH SDJLQD  HQ LQ GH EHGULMIVVWDQG LV ]DO ]LMQ VLJQDDO RS KHW VFKHUP YDQ 8Z 79WRHVWHO ZHHUJHJHYHQ ZRUGHQ HQ LQ GH OLQNHUERYHQKRHN YDQ KHW VFKHUP YHUVFKLMQW KHW k$9lWHNHQ ]RQGHU HUPHH UHNHQLQJ WH KRXGHQ ZHONH SURJUDPPDSRVLWLH LQ GH 79 JHNR]HQ ZHUG 'H 79WXQHU ]DO JHïJQRUHHUG ZRUGHQ F 'LW 79WRHVWHO NDQ DXWRPDWLVFK QDDU GH $9LQVWHOOLQJ RPVFKDNHOHQ , Q GLW JHYDO YHUVFKLMQW (& LQ GH OLQNHUERYHQKRHN YDQ KHW VFKHUP HQ KHW VLJQDDO YDQ KHW DDQJHVORWHQ $9WRHVWHO %LM GH ZLM]LJLQJ YDQ KHW WHOHYLVLHSURJUDPPD EOLMIW KHW RSJHQRPHQ EHHOG RQYHUDQGHUG F F 'UXN GH k79$9lWRHWV LQ RI VFKDNHO KHW DDQJHVORWHQ $9WRHVWHO XLW RP WHUXJ WH NHUHQ QDDU GH 79PRGH +HW LV QLHW PRJHOLMN WZHH $9WRHVWHOOHQ DDQ GH 79LQJDQJHQ WHJHOLMNHUWLMG DDQ WH VOXLWHQ ]LMQ VLJQDOHQ ]RXGHQ LQ HONDDU RYHUJDDQ F , QGLHQ X DDQ GH WHOHYLVLH YLD $9LQJDQJHQ HHQ WRHVWHO VOXLW GDW KHW VLJQDDO LQ GH QRUP 176& XLW]HQGW ]DO GH WHOHYLVLH GLW VLJQDDO DXWRPDWLVFK GHWHFWHUHQ HQ LQ GH]H QRUP ZHHUJHYHQ +HW +RRIGPHQX YDQ GH JHJHYHQV RS KHW VFKHUP 26' NULMJW GH RSWLH 7LQW GLH X PHW EHKXOS YDQ GH kl HQ kl WRHWVHQ UHJHOHQ NXQW 9&5 %(', (1, 1* 0HW GH DIVWDQGVEHGLHQLQJ LV KHW PRJHOLMN RP EHSDDOGH IXQFWLHV YDQ EHSDDOGH 3DQDVRQLF 9&5jV WH EHGLHQHQ 1LHW DOOH 9&5jV EHVFKLNNHQ RYHU GH]HOIGH IXQFWLHV UDDGSOHHJ GDDURP GH KDQGOHLGLQJ YDQ XZ DSSDUDWXXU RI QHHP FRQWDFW RS PHW XZ GHDOHU YRRU PHHU LQIRUPDWLH ZDW GH FRPSDWLELOLWHLW EHWUHIW 9&5 6WDQGE\ 7RHWV LQGUXNNHQ RP GH 9&5 RS VWDQGE\ WH ]HWWHQ 7RHWV QRJPDDOV LQGUXNNHQ RP KHP RSQLHXZ XLW WH VFKDNHOHQ 3OD\ DIVSHOHQ 'H]H WRHWV LQGUXNNHQ RP GH YLGHREDQG DI WH VSHOHQ 6WRS 'H]H WRHWV LQGUXNNHQ RP GH YLGHREDQG WH VWRSSHQ 6NLS )DVW )RUZDUG &XH RYHUVODDQ YHUVQHOG YRRUXLW VSRHOHQ ZHHUJHYHQ 9&5 'H]H WRHWV LQGUXNNHQ RP GH YLGHREDQG VQHO YRRUXLW WH VSRHOHQ , QGLHQ GH]H WRHWV WLMGHQV GH ZHHUJDYH ZRUGW LQJHGUXNW ZRUGW KHW EHHOG YHUVQHOG ZHHUJHJHYHQ 6NLS 5HZLQG 5HYLHZ RYHUVODDQ YHUVQHOG DFKWHUXLW VSRHOHQ ZHHUJHYHQ 9&5 'H]H WRHWV LQGUXNNHQ RP GH YLGHREDQG VQHO DFKWHUXLW WH VSRHOHQ :DQQHHU GH]H WRHWV WLMGHQV GH ZHHUJDYH ZRUGW LQJHGUXNW ZRUGW KHW EHHOG YHUVQHOG DFKWHUXLW ZHHUJHJHYHQ 3DX]H VWLOVWDDQG EHHOG 'H]H WRHWV WLMGHQV ZHHUJDYH LQGUXNNHQ RP HHQ kVWLOVWDDQGl EHHOG WH NULMJHQ 1RJPDDOV LQGUXNNHQ RP GH QRUPDOH ZHHUJDYH ZHHU WH VWDUWHQ 3URJUDPPDNHX]H 2S1HHU , QGUXNNHQ RP KHW 9&5SURJUDPPD SODDWV WH YHUKRJHQ RI WH YHUODJHQ 5(& 5HFRUG RSQHPHQ 'H]H WRHWV LQGUXNNHQ RP PHW RSQHPHQ WH EHJLQQHQ ', 5(&7 79 5(& 'LUHFW 79 5HFRUG GLUHFW RSQHPHQ 'H]H WRHWV LQGUXNNHQ RP PHW KHW GLUHFWH RSQHPHQ XLW GH 79 WH EHJLQQHQ 9RRUZDDUGHQ ]LH SDJLQD 7(/(7(. 67%(', (1, 1* - 'H 7HOHWHNVWIXQFWLHV NXQQHQ YHUVFKLOOHQ SHU 79VWDWLRQ HQ ]LMQ DOOHHQ EHVFKLNEDDU LQGLHQ KHW NDQDDO WHOHWHNVW GRRUJHHIW - $OV GH k)lWRHWV ZRUGW LQJHGUXNW WHUZLMO KHW WRHVWHO RS 7HOHWHNVW VWDDW ]DO GH FRQWUDVWIXQFWLH ZRUGHQ ZHHUJHJHYHQ LQ GH YRUP YDQ HHQ KHOGHUH EODXZH EDON 'UXN RS GH kl HQ kl WRHWV RP GH LQVWHOOLQJ GHVJHZHQVW WH ZLM]LJHQ - 'RRU KHW LQGUXNNHQ YDQ GH kl HQ kl WRHWVHQ WHUZLMO KHW WRHVWHO RS 7HOHWHNVW VWDDW LV KHW PRJHOLMN DOOHHQ PDDU KHW OXLVWHUQLYHDX WH ZLM]LJHQ :DW LV )/2) )$67(;7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j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 JURRWWH WHUXJ WH NHUHQ 3DJLQDRSURHSHQ (U ]LMQ WZHH PRJHOLMNKHGHQ RP GH SDJLQDjV RS WH URHSHQ D HHQ YDQ GH b dWRHWVHQ LQGUXNNHQ RP KHW SDJLQDQXPPHU HHQ QXPPHU WH YHUODJHQ RI YHUKRJHQ E KHW JHZHQVWH SDJLQDQXPPHU PHW EHKXOS YDQ GH WRHWVHQ RS GH DIVWDQGVEHGLHQLQJ LQ WH JHYHQ 5RGH *URHQH *HOH %ODXZH WRHWVHQ , Q GH )$67(;7PRGXV FRUUHVSRQGHUHQ GH]H WRHWVHQ PHW GH YHUVFKLOOHQG JHNOHXUGH RQGHUZHUSHQ 'RRU KHW LQGUXNNHQ YDQ GH]H WRHWV NXQW X GH WHOHWHNVW DIVOXLWHQ HQ WRW GH JHZRQH 79PRGXV WHUXJNHUHQ 9HUODWHQ (;7(51( $8', 2 9, '(2 $$16/8, 7, 1*(1 DFKWHU $9 SLQV 6&$57FRQQHFWRU HQ 5&$ IURQWFRQQHFWRUV 'H DXGLRYLGHR $9 LQJDQJHQ ]LMQ JHVFKLNW YRRU GH 9&5 VDWHOOLHWRQWYDQJHUDDQVOXLWLQJ HQ YRRU DQGHUH FRPSDWLEHOH DXGLRYLGHR WRHVWHOOHQ $FKWHULQJDQJ XLWJDQJ YDQ GH $9 6&$57FRQQHFWRU $9 IURQWSDQHHO . DEHO 6&$57 9LGHR 9LQJDQJ 9&5 $XGLRLQ JDQJ QDDU 95DDQ VOXLWLQJHQ [ 5&$DXGLR NDEHOV 9&5 5&$YLGHR NDEHO 8LWYRHU YDQ KRRIGWHOH IRRQDDQ VOXLWLQJ 6$7(//, (72179$1*(5 &$0&25'(5 +RRIGWHOHIRRQ PHW PP MDFNFRQQHFWRU &$0&25'(5 1 , QIRUPDWLH RYHU GH 6&$57FRQQHFWRU 9, '(2*$0( $9 SLQV 6&$57FRQQHFWRU kDDUGHl YDQ GH FRQQHFWRU XLWJDQJ FRPSRVLWLH YLGHRVLJQDDO kDDUGHl FRPSRVLWLH YLGHRVLJQDDO VLJQDDOLQJDQJ 5 kDDUGHl VLJQDDOLQJDQJ 5 VLJQDDOLQJDQJ * kDDUGHl DLJQDDOLQJDQJ * VLJQDDOLQJDQJ % kDDUGHl VLJQDDOLQJDQJ % XLWJDQJ DXGLRVLJQDDO OLQNHUNDQDDO XLWJDQJ DXGLRVLJQDDO UHFKWHUNDQDDO LQJDQJ FRPSRVLWLH YLGHRVLJQDDO kDDUGHl FRPPXWDWLHVLJQDDO YRRU 5*% FRPPXWDWLHVLJQDDO YRRU 5*% kDDUGHl 4 /LQN FRPPXWDWLHVLJQDDO YRRU LQJDQJVFRPSRVLWLH YLGHRVLJQDDO LQJDQJ DXGLRVLJQDDO OLQNHUNDQDDO kDDUGHl DXGLRVLJQDOHQ LQJDQJ DXGLRVLJQDDO UHFKWHUNDQDDO *HVFKLNWH LQYRHU YRRU $9 5*% URRGJURHQEODXZ 2SPHUNLQJHQ 'H ZHHUJHJHYHQ H[UD DSSDUDWXXU HQ NDEHOV ZRUGHQ QLHW PHHJHOHYHUG PHW GLW 79 WRHVWHO &RPSXWHU PHW 77/ XLWJDQJ 9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j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 79 YHUSODDWVW WHUZLMO KLM $$1 VWRQG VFKDNHO GH 79 JHGXUHQGH PLQXWHQ XLW . OHXUYOHNNHQ 1RUPDDO JHOXLG *HOXLGRQWYDQJVW NDQ YHUVOHFKWHUG ]LMQ EY GRRU DWPRVIHULVFKH RRU]DNHQ =HW GH 03;LQVWHOOLQJ *HOXLGPHQX RS 0RQR WRWGDW GH RQWYDQJVW YHUEHWHUW 1RUPDDO EHHOG =ZDN RI JHHQ JHOXLG 7(5 , 1)250$7, ( 1 6HUYLFH 5DDGSOHHJ HHUVW GH VWRULQJVWDEHO RS GH YRRUJDDQGH SDJLQD RP YDVW WH VWHOOHQ ZDW GH V\PSWRPHQ YDQ HYHQWXHOH SUREOHPHQ ]LMQ DOYRUHQV DVVLVWHQWLH LQ WH URHSHQ 9RRU DVVLVWHQWLH NXQW X FRQWDFW RSQHPHQ PHW XZ 3DQDVRQLF OHYHUDQFLHU ZDDUELM X KHW PRGHOQXPPHU HQ KHW VHULHQQXPPHU GLHQW RS WH JHYHQ EHLGH VWDDQ DFKWHU RS XZ 79WRHVWHO YHUPHOG 1 *HKHXJHQ ODDWVWH SRVLWLH %HSDDOGH IXQFWLHV KHEEHQ HHQ JHKHXJHQ YRRU GH ODDWVW LQJHVWHOGH SRVLWLH 'H DDQZH]LJH LQVWHOOLQJHQ ELM KHW XLW]HWWHQ YDQ KHW WRHVWHO ]LMQ RRN GH LQVWHOOLQJHQ ELM KHW ZHHU LQVFKDNHOHQ YDQ GH 79 3URJUDPPD 4/LQN 9ROXPHFRUUHFWLH $9 9ROXPH 0RGXV VSUDDN PX]LHN /DJH WRQHQ +RJH WRQHQ 6WDQGE\PRGXV /DQG 7LQW , QEHGULMIVWHOOLQJPRGXV . RQWUDVW 6FKHUSWH +HOGHUKHLG . OHXU %DODQV /5 6WDWXV 7DDONHX]H 1 796SHOHQ +XLVFRPSXWHUV /DQJGXULJ JHEUXLN YDQ 79VSHOHQ RI KXLVFRPSXWHUV NDQ ELM LHGHU 79WRHVWHO HHQ SHUPDQHQWH lVFKDGXZl RS KHW EHHOGVFKHUP WRW JHYROJ KHEEHQ 'LW VRRUW RQKHUVWHOEDUH EHHOGEXLVEHVFKDGLJLQJ NDQ WRW HHQ PLQLPXP ZRUGHQ EHSHUNW DOV GH YROJHQGH SXQWHQ LQ DFKW ZRUGHQ JHQRPHQ F +HW KHOGHUKHLG HQ FRQWUDVWQLYHDX ]R ODDJ PRJHOLMN DIVWHOOHQ F /DDW GH 79 WLMGHQV KHW JHEUXLN LQ FRPELQDWLH PHW 79VSHOHQ RI KXLVFRPSXWHUV QLHW RQEHSHUNW DDQVWDDQ F %RYHQJHQRHPGH EHHOGEXLVEHVFKDGLJLQJHQ ZRUGHQ QLHW DOV HHQ QRUPDDO RQWVWDDQ GHIHFW EHVFKRXZG HQ ZRUGHQ DOV ]RGDQLJ QLHW ELQQHQ GH 3DQDVRQLF JDUDQWLH YRRUZDDUGHQ JHGHNW 1 , QVODDSIXQFWLH 6/((3 , QGLHQ KHW WRHVWHO QLHW XLWJH]HW LV ZDQQHHU HHQ 79VWDWLRQ VWRSW PHW XLW]HQGHQ JDDW KHW QD PLQXWHQ DXWRPDWLVFK RYHU LQ GH VWDQGE\PRGXV 'H]H IXQFWLH ZHUNW QLHW ZDQQHHU KHW WRHVWHO LQ GH $9PRGXV VWDDW 63(&, ), &$7, (6 0RGHO 1HWYRHGLQJ 6WURRPYHUEUXLN 6WURRPYHUEUXLN LQ VWDQGE\ %HHOGEXLV ]LFKWEDUH GLDJRQDDO $XGLR XLWJDQJVYHUPRJHQ 0X]LHNYHUPRJHQ $IPHWLQJHQ *HZLFKW + % ' 7;$3) :LVVHOQHWYRHGLQJ 9 +] : : FP [ : 506 [ : 032 LPSHGDQWLH W PP PP PP NJ 3$/ %* 3$/ + 3$/ 6(&$0 %* 6(&$0 // 9+) ( ( 9+) + + , 7$/, ø 9+) $ + , 7$/, ø 8+) ( ( &$79 6 6 &$79 6 6 0 0 &$79 6 6 8 8 &$79 6 6 +\SHUEDQG 0176& DIVSHOHQ YDQ 176& 0+] 9LGHRUHFRUGHUV 9&5 XLWVOXLWHQG $9 LQJDQJ 176& DIVSHOHQ YDQ 176& 9LGHRUHFRUGHUV 9&5 XLWVOXLWHQG $9 LQJDQJ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jDERUG DX lJXLGH GH PLVH HQ URXWH UDSLGHl DYDQW GH SUHQGUH FRQQDLVVDQFH GX PRGH GjHPSORL FRPSOHW TXH YRXV GHYUH] FRQVHUYHU VRLJQHXVHPHQW GHV ILQV GH U I UHQFH XOW ULHXUH 7$%/( '(6 0$7, (5(6 $YHUWLVVHPHQWV HW SU FDXWLRQV *XLGH GH PLVH HQ URXWH UDSLGH &RPPDQGHV SULQFLSDOHV $UEUH GX SURJUDPPH 0HQXV VXU FUDQ 0HQX SULQFLSDO 0HQX 6RQ 0HQX &RQILJXUDWLRQ 0HQX 5 JODJH 0HQX 5 JODJH &RQILJXUDWLRQ DXWRPDWLTXH 5HFKHUFKH DXWR 0HQX 5 JODJH 5 JODJH PDQXHO &KDQJHPHQW GHV SRVLWLRQV GH SURJUDPPH /DQJXHV 26' )RQFWLRQV SDUWLFXOLýUHV 4 /LQN 7 O FKDUJHPHQW GHV GRQQ HV YHUV OH PDJQ WRVFRSH 4 /LQN 6 OHFWLRQ $9 0DUFKH $9 &RPPDQGH GX PDJQ WRVFRSH )RQFWLRQ 7 O WH[WH &RQQH[LRQ DXGLRYLG R H[WHUQH 'LDJQRVWLF GHV SDQQHV , QIRUPDWLRQV J Q UDOHV SRXU XWLOLVDWHXUV &DUDFW ULVWLTXHV - - $9(57, 66(0(176 (7 35þ&$87, 216 F F &H W O YLVHXU HVW FRQX SRXU IRQFWLRQQHU VXU XQ U VHDX GH F @IUS@UD@I 9V 7PðUD@S @U 9V UV7@ 86UCP9DRV@ ' EUDQFKH] OD ILFKH GH OD SULVH PXUDOH 1HWWR\HU OH ERñWLHU HW OH WXEH OjDLGH GjXQ FKLIIRQ GRX[ O JýUHPHQW KXPLGH HW GjXQ EDVH 9 +] &$ 1jH[SRVH] MDPDLV OH W H[FHVVLYH GHV FKRFV SRXUUDLW HQ U VXOWHU HW O YLVHXU OD SOXLH RX OD VRXUFH G KXPLGLW FDWKRGLTXH G OHFWULTXHV RX PûPH XQ ULVTXH G LQFHQGLH HQGRPPDJHU OD VDQW GH O XWLOLVDWHXU HW WHUJHQW QRQ DEUDVLI 1 XWLOLVH] SDV GH SURGXLWV GH QHWWR\DJH GH EHQ]RO RX GH S GX W O YLVHXU Oj WUROH 3HQGDQW OH FRQWDFW DYHF OH WXEH FDWKRGLTXH VWDWLTXH SHXW SURGXLUH YXH DILQ G YLWHU XQH YHQWXHOOH O DSSDUHLO OHFWULFLW F 6UU@IUDPI ) C6VU@ U@ITDPI ÄÄÄ 1H UHWLUH] MDPDLV OH FRXYHUFOH DUULýUH SRXU QH SDV SURWHFWLRQ OHV SLýFHV VRXV WHQVLRQ /H W SLýFH LQWHUQH U SDUDEOH SDU O XWLOLVDWHXU PDUFKHDUUûW O GH FH PRGýOH QH G FRQQHFWH SDV O ODLVVHU VDQV F YLVHXU QH FRQWLHQW DXFXQH 8QH YHQWLODWLRQ VXIILVDQWH GRLW ûWUH SU G W ULRUDWLRQ GHV FRPSRVDQWV OHFWURQLTXHV , O IDXW SU O YRLU DX PRLQV XQ HVSDFH GH FP WRXW DXWRXU GX W SODF GDQV XQ PHXEOH RX HQWUH GHV YLVHXU PûPH VL FHOXL FL HVW WDJýUHV F /jLQWHUUXSWHXU F @GDHDI6UDPI 9@T 9þ8C@UT 0HWWH] OHV HPEDOODJHV RX OHV EDWHULHV XV SRXU OHV G FKHWV GH V SDUDWLRQ HV GDQV OHV FRQWDLQHUV WRWDOHPHQW OH W YLVHXU GH O DOLPHQWDWLRQ VHFWHXU ' O EUDQFKH] OD SHQGDQW ILFKH GH OD SULVH PXUDOH VL OH W XQH S YLVHXU QH GRLW SDV ûWUH XWLOLV H ULRGH GH WHPSV SURORQJ O F (YLWH] GjH[SRVHU OH W YLVHXU GLUHFWHPHQW DX[ UD\RQV GX VROHLO RX WRXWH DXWUH VRXUFH GH FKDOHXU *8, '( '( 0, 6( (1 5287( 5$3, '( *XLGH GH PLVH HQ URXWH UDSLGH 9 ULILH] TXH YRXV GLVSRVH] ELHQ GHV DFFHVVRLUHV VXLYDQWV 28 3LOHV SRXU W O FRPPDQGH [ 5 80 6&$57 %UDQFKH] O DQWHQQH HW O TXLSHPHQW DX[LOLDLUH $OOXPH] OHV SRVWHV EUDQFK V &DFKH GHV FRQQHFWLRQV $9 7. 3( 7 O FRPPDQGH (85 6 OHFWLRQQH] YRWUH ODQJXH $SSX\H] k79$9l VXU OD WRXFKH 0RGH GjHPSORL 6 OHFWLRQQH] YRWUH SD\V $SSX\H] k79$9l VXU OD WRXFKH /D FRQILJXUDWLRQ VH IDLW DXWRPDWLTXHPHQW YRV FKDñQHV VRQW LGHQWLIL HV P PRULV HV HW DUUDQJ HV *DUDQWLH FRXYUDQW OH W O YLVHXU , QWHUUXSWLRQ GH OD V TXHQFH $73 DSSX\H] VXU OD WRXFKH k)l 7HUPLQDLVRQ GH OD V TXHQFH $73 DSSX\H] VXU OD WRXFKH k1l 6L XQ PDJQ WRVFRSH FRPSDWLEOH HVW OD SULVH $9 OHV SDUDPýWUHV GH FRQQHFW SURJUDPPH VHURQW W O FKDUJ V GDQV OH PDJQ WRVFRSH SDU O LQWHUP GLDLUH GH OD OLDLVRQ 4/LQN 9RLU OD SDJH 3LOHV SRXU W O FRPPDQGH 6 OHFWLRQ GH FKDñQH 5 JODJH GH YROXPH : $VVXUH]YRXV TXH OHV SLOHV VRQW FRUUHFWHPHQW LQVWDOO HV : 1H P ODQJH] SDV SLOHV QHXYHV HW 5HWLUH] SLOHV XV HV LPP GLDWHPHQW OHV SLOHV XV HV : 1H P ODQJH] SDV SLOHV GH W\SHV GLII UHQWV F G GHV SLOHV DOFDOLQHV HW GH PDQJDQýVH QjXWLOLVH] SDV GH SLOHV 1L&DG UHFKDUJHDEOHV - 6L OH PDJQ WRVFRSH QjD SDV DFFHSW OHV GRQQ HV W O FKDUJ HV GX W O YLVHXU YRXV GHYUH] SHXWûWUH V OHFWLRQQHU O RSWLRQ kW O FKDUJHPHQW GHV GRQQ HV l GX PHQX GX PDJQ WRVFRSH - 6L OD OLDLVRQ 4/LQN QH IRQFWLRQQH SDV FRUUHFWHPHQW Y ULILH] TXH OH F EOH OD SULVH $9 GX W O YLVHXU TXjLO HVW k)XOO 6&$573þ5, 7(/ HVW FRQQHFW IXQFWLRQl EURFKHV  HW TXH OH PDJQ WRVFRSH HVW ELHQ FRPSDWLEOH DX[ WHFKQRORJLHV 4/LQN 1(;79, (:/, 1. RX VLPLODLUH - 3RXU SOXV GH UHQVHLJQHPHQWV VXU OD OLDLVRQ 4/LQN HW O TXLSHPHQW GH FRQQH[LRQ YRLU OHV SDJHV HW $GUHVVH]YRXV YRWUH UHYHQGHXU SRXU HQ VDYRLU SOXV 6L YRXV LQVWDOOH] XQ PDJQ WRVFRSH QHXI FRPSDWLEOH OD OLDLVRQ 4/LQN YRXV SRXYH] PDLQWHQDQW O DOOXPHU /HV SDUDPýWUHV W O FKDUJ V FRUUHVSRQGURQW FHX[ GX OD OLDLVRQ W O YLVHXU 6L YRXV LQVWDOOH] XQ PDJQ WRVFRSH FRPSDWLEOH 1(;79, (:/, 1. YRXV GHYUH] FRPPDQGHU PDQXHOOHPHQW OH W O FKDUJHPHQW &RQVXOWH] OH PRGH GjHPSORL GX PDJQ WRVFRSH SRXU SOXV GH G WDLOV &200$1'(6 35, 1&, 3$/(6 )DDGH $OLPHQWDWLRQ 6(&7(85 ERXWRQ 0DUFKH$UUûW 7 PRLQ URXJH LQGLTXH O WDW GH YHLOOH 3RXU DOOXPH] OH W O YLVHXU DSSX\H] VXU OD WRXFKH G WDW GH YHLOOH RX VXU OHV WRXFKHV RX VXU OHV WRXFKHV 0 PRULVDWLRQ GHV SDUDPýWUHV GH U JODJH HW GH FRQILJXUDWLRQ GHV IRQFWLRQV GDQV OH P PRLUH 675 ) 6 OHFWLRQ GHV IRQFWLRQV $IILFKDJH GHV IRQFWLRQV VXU O FUDQ DSSX\HU GH IDRQ U SHW H SRXU V OHFWLRQQHU OHV IRQFWLRQV 9ROXPH &RQWUDVWH /XPLQRVLW &RXOHXU 1HWWHW 7HLQWH HQ PRGH 176& *UDYH $LJX %DODQFH HW PRGH &RQILJXUDWLRQ 3ULVH FDVTXH YRLU OD SDJH  3ULVHV DXGLRYLG R 5&$ YRLU OD SDJH  &RPPXWDWHXU 79$9 YRLU OD SDJH  / DXJPHQWDWLRQ RX OD GLPLQXWLRQ GH OD SRVLWLRQ GH SURJUDPPH G XQH XQLW /RUVTX XQH IRQFWLRQ HVW G M DIILFK H DSSX\H] SRXU DXJPHQWHU RX GLPLQXHU OD IRQFWLRQ V OHFWLRQQ H 7 O FRPPDQGH &RPPXWDWHXU 0DUFKH(WDW GH YHLOOH VWDQGE\ &RXSXUH GH 6RQ 7RXFKH (QUHJLVWUHPHQW GLUHFW 4/LQN 7RXFKH (WDW SRXU REWHQLU O DIILFKDJH GH OD SRVLWLRQ GX SURJUDPPH GX QXP UR GH FDQDO GH O KHXUH GX PRGH VW UHRPRQR00 QRP GH FKDñQHV DYHF 7 O WH[WH 6 OHFWLRQ GX QXP UR KDXW RX EDV GX FDQDO V OHFWLRQ GX PHQX HW WRXFKH SRXU OHV SDJHV GX W O WH[WH &RPPXWDWHXU $979 YRLU OHV SDJHV HW  3RXU OD P PRULVDWLRQ HW OD FRQILUPDWLRQ GDQV OH PHQX VXU Oj FUDQ 6 OHFWLRQ GHV FKDñQHV GHX[ FKLIIUHV  O DLGH GHV WRXFKHV QXP ULTXHV 7RXFKHV 7 O WH[WH YRLU OD SDJH  5 JODJH GH OD IRQFWLRQ V OHFWLRQQ H $XFXQH IRQFWLRQ V OHFWLRQQ H 5 JODJH GH 9ROXPH 6 OHFWLRQ GH OD IRQFWLRQ $SSX\H] SRXU REWHQLU O DIILFKDJH GX PHQX VXU O FUDQ SDJH  /D WRXFKH k1l UDSSHOH OHV U JODJHV P PRULV V SDU OD WRXFKH 675 VXU OH IDDGH 6RUWLH GX PHQX VXU O FUDQ 7RXFKHV QXP ULTXHV SRXU OD V OHFWLRQ GHV SRVLWLRQV GX SURJUDPPH SRXU OD V OHFWLRQ GLUHFWH GHV FDQDX[ SRXU OHV SDJHV GH 7 O WH[WH 6 OHFWLRQ GLUHFWH GX FDQDO DSSX\H] VXU FHWWH WRXFKH HW V OHFWLRQQH] OH FDQDO YRXOX O DLGH GHV WRXFKHV QXP ULTXHV 3RXU OD V OHFWLRQ GLUHFWH GX FDQDO GH k+\SHUl FKDñQH W O YLVLRQ GH F EOH DSSX\H] VXU OHV WRXFKHV GH OD V OHFWLRQ GLUHFWH GX FDQDO HW OHV WRXFKHV GH OD V OHFWLRQ GX SURJUDPPH k&l k l HW SDU OHV WRXFKHV QXP ULTXHV V OHFWLRQQH] OH QXP UR 7RXFKHV 0DJQ WRVFRSH YRLU OD SDJH  $5%5( '8 352*5$00( 0HQX SULQFLSDO &RQWUDVWH /XPLQRVLW &RXOHXU 1HWWHW 7 HLQWH VHXO 176& 0LQXWHULH YHLOOH 6RQ &RQILJXUDWLRQ &RQILJXUDWLRQ /DQJXH GX WH[WH 1RQ )RUPDW 6\VWýPH FRXOHXU $9 5ýJODJH YROXPH $9 4 /LQN 5 /DQJXHV 26' JODJH $872 3$/ 6(&$0 0176& 176& $XWR 2XHVW (VW 6RQ 9ROXPH *UDYH $LJX %DODQFH 03; 79 0RGH $, 1RQ 2XL 0XVLTXH 3DUROH 6W U R 0RQR 0 0 1RQ 2XL /DQJXHV 26' $73 DWWHQWLRQ 3D\V 'HXWVFKODQG )UDQFH 5HFKHUFKH DXWR 5 JODJH PDQXHO &KDQJHU 6& ) , WDOLD (VSDÆRO 1HGHUODQGV (8 $73 'HXWVFK (QJOLVK )UDQDLV , WDOLDQR (//+1, . $ (VSDÆRO 1RUVN 'DQVN 6YHQVND 1HGHUODQGV 6XRPL 7ÚUNH 3RUWXJXûV 5 JODJH 5ýJODJH PDQXHO 6\VWýPH 79 5 JODJH ILQ &KDQJHU 6\VWýPH FRXOHXU 79 ' FRGHXU $9 $XWR 3$/ 6(&$0 1RQ 2XL 79 4 /LQN 5ýJODJH YROXPH 79 %ORTXHU 9&5 1RQ 2XL 0(186 685 (&5$1 &H W O YLVHXU HVW TXLS G XQ V\VWýPH YROX GH PHQXV TXL YRXV SHUPHW G DFF GHU DX[ U JODJHV HW DX[ RSWLRQV GHV SDUDPýWUHV $SSX\H] VXU OD WRXFKH k)l SRXU HQWUHU GDQV OH PHQX &XUVHXU GX PHQX SRXU V OHF WLRQ HW U JODJH GHV SDUDPýWUHV &KRLVLU 5 JOHU 7LWUH GX PHQX %DUUH GH V OHFWLRQ 0HQX SULQFLSDO &RQWUDVWH /XPLQRVLW &RXOHXU 1HWWHW 7HLQWH VHXOHPHQW 176& 6RUWLU , QVWUXFWLRQV , QGLFDWHXU GX SDUDPýWUH 6RXVPHQX 0LQXWHULH YHLOOH 6RQ &RQILJXUDWLRQ $SSX\H] VXU OD WRXFKH k1l SRXU VRUWLU GX PHQX &HUWDLQHV RSWLRQV FRPPH SDU H[HPSOH &RQWUDVWH /XPLQRVLW &RXOHXU HW 1HWWHW SHUPHWWHQW GjDXJPHQWHU RX GH U GXLUH OH QLYHDX VHORQ YRV GHPDQGHV SHUVRQHOOV &HUWDLQHV RSWLRQV FRPPH RSWLRQ 0LQXWHULH YHLOOH YRXV GHPDQGHQW GH IDLUH XQ FKRL[ &HUWDLQHV RSWLRQV OH PHQX &RQILJXUDWLRQ FRQGXLVVHQW XQ DXWUH PHQX /D WRXFKH k)l SHUPHW HQWUHU DX[ PHQXV SULQFLSDX[ HW UHYHQLU DX PHQX SU F GHQW /D WRXFKH k1l SHUPHW VRUWLU GX PHQX VXU O FUDQ RX OD V OHFWLRQ G XQ RSWLRQ /D WRXFKH k79$9l SHUPHW FRQILUPHU OD V OHFWLRQ 0(18 35, 1&, 3$/ &H PHQX YRXV SHUPHW G HIIHFWXHU HQWUH DXWUHV OHV U JODJHV GH TXDOLW GH OjLPDJH $SSX\H] VXU OD WRXFKH k)l 6 OHFWLRQQH] OH PHQX G PDQG 0HQX SULQFLSDO $XJPHQWH] RX U GXLVH] OH QLYHDX RX U JOH] O WDW GHV RSWLRQV $SSX\H] VXU OH WRXFKH k1l SRXU VRUWLU GX PHQX &RQWUDVWH /XPLQRVLW &RXOHXU 1HWWHW 7HLQWH VHXOHPHQW 176& 0LQXWHULH YHLOOH 6RQ &RQILJXUDWLRQ &KRLVLU 5 JOHU 6RUWLU &RQWUDVWH /XPLQRVLW &RXOHXU 1HWWHW /HV QLYHDX[ GH FRQWUDVWH OXPLQRVLW FRXOHXU QHWWHW SHXYHQW ûWUH U JO V VHORQ YRV GHPDQGHV HW FRQGLWLRQV G REVHUYDWLRQ 1jLPSRUWH TXDQG LOV SHXYHQW ûWUH U JO V VXU OHV QLYHDX[ U JO V SDU OH IDEULFDQW HQ DSSX\DQW VXU OD WRXFKH k1l /H U JODJH GH OD WHLQWH QjDSSDUDñ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k)l 6 OHFWLRQQH] OH PHQX 6RQ 0HQX SULQFLSDO &RQWUDVWH /XPLQRVLW &RXOHXU &KRLVLU $FF GHU 6RUWLU (QWUH] GDQV OH PHQX 6RQ 6 OHFWLRQQH] OH PHQX G PDQG 1HWWHW 7HLQWH VHXOHPHQW 176& 0LQXWHULH YHLOOH 6RQ $XJPHQWH] RX GLPLQXH] OHV QLYHDX RX U JOH] O WDW GHV RSWLRQV $FF GHU &RQILJXUDWLRQ $SSX\H] VXU OD WRXFKH k1l SRXU VRUWLU GX PHQX 6RQ &KRLVLU 5 JOHU 9ROXPH OH QLYHDX GX YROXPH GH VRUWLH J Q UDO *UDYH /H U JODJH 9ROXPH YRXV SHUPHW GH U JOHU 5HYHQLU 6RUWLU 6RQ 9ROXPH *UDYH /H U JODJH *UDYH YRXV SHUPHW G DFFHQWXHU OHV IU TXHQFHV SOXV EDVVHV HW JUDYHVVRQ QLYHDX SHXW ûWUH DXJPHQW RX GLPLQX /H U JODJH $LJX YRXV SHUPHW G DFFHQWXHU OHV IU TXHQFHV SOXV KDXWHV HW VRQ QLYHDX SHXW ûWUH DXJPHQW RX GLPLQX /D EDODQFH DJLW VXU OH QLYHDX VRQRUHV HQWUH OHV KDXWSDUOHXUV GURLW HW JDXFKH &HOD SHUPHW GH U JOHU OHV QLYHDX[ VRQRUHV HQWUH OHV KDXWVSDUOHXUV VHORQ OHV GHPDQGHV G XQ DXGLWHXU 03; VHUD U JO HQ PRGH l6WHUHRl VjLO HVW PLV SRXU RIIULU OD PHLOOHXUH UHSURGXFWLRQ VRQRUH HQ FDV GH G JUDGDWLRQ GH OD U FHSWLRQ QRXV YRXV UHFRPPDQGRQV GH SDVVHU HQ PRGH 0RQR /HV PRGHV 0RQR 0 HW 0 SHXYHQW ûWUH V OHFWLRQQ V DXVVL VL OH SURJUDPPH PHW HQ GHX[ ODQJXHV /H VLJQDO HVW G WHFW DXWRPDWLTXHPHQW VHXOHPHQW 79 (Q V OHFWLRQQDQW OHV PRGHV 0XVLTXH RX 3DUROH 2XL SHXW FKDQJHU OH WLPEUH GX VRQ /H PRGH $O % Q ILFH GX VRQ DQDO\VH DXWRPDWLTXHPHQW OH VLJQDO GjHQWU HW LO OH WUDLWH SRXU REWHQLU OH WRQ RSWLPDO VDQV EUXLWV $LJX 6W U R %DODQFH 03; 79 0RGH $, 0XVLTXH 1RQ $LJX %DODQFH $LJX 03; 0RGH $, 0(18 &21), *85$7, 21 /H PHQX &RQILJXUDWLRQ VXLYDQW YRXV SHUPHW G DFF GHU PHQX 5 JODJH $SSX\H] VXU OD WRXFKH k)l 6 OHFWLRQQH] OH PHQX &RQILJXUDWLRQ VXLYDQWH (QWUH] GDQV OH PHQX &RQILJXUDWLRQ VXLYDQWH 6 OHFWLRQQH] OH PHQX G PDQG $XJPHQWH] RX GLPLQXH] OH QLYHDX RX U JOH] O RSWLRQ $SSX\H] VXU OD WRXFKH k1l SRXU VRUWLU GX PHQX &RQILJXUDWLRQ 0HQX SULQFLSDO &RQWUDVWH /XPLQRVLW &RXOHXU 1HWWHW 7HLQWH VHXOHPHQW 176& 0LQXWHULH YHLOOH 6RQ GLYHUVHV IRQFWLRQV YROX HV DLQVL TXH DX &KRLVLU $FF GHU 6RUWLU &RQILJXUDWLRQ $FF GHU /DQJXH GX 7H[WH /D V OHFWLRQ HQWUH OHV VLJQHV GH O HVW RX GH O RXHVW GDQV OH 0HQX 7 O WH[WH /D IRQFWLRQ )RUPDW YRXV SHUPHW GH YRLU GHV SURJUDPPHV JUDQG DQJOH DYHF OH IRUPDW FRUUHFW  /H PHQX 6\VWýPH FRXOHXU YRXV SHUPHW GH FKRLVLU OH VWDQGDUG GH WUDQVPLVVLRQ FRUUHFW VHXOHPHQW $9 /H PHQX 5 JODJH YROXPH YRXV SHUPHW GH U JOHU OH QLYHDX GH YROXPH SRXU OH SURJUDPPH DYHF OHV GLII UHQWV QLYHDX[ GH YROXPH VHXOHPHQW $9 /D OLDLVRQ 4/LQN YRXV SHUPHW G DFWLYLW RX G VDFWLYHU OD FRPPXQLFDWLRQ GH GRQQ HV DYHF XQ PDJQ WRVFRSH FRPSDWLEOH YRLU OD SDJH  /H PHQX 5 JODJH YRXV GRQQH DFFýV GH QRPEUHXVHV DXWUHV IRQFWLRQV &RQILJXUDWLRQ DXWRPDWLTXH GHV FDQDX[ IRQFWLRQV $73 5 JODJH ILQ HW 5 JODJH GH 9ROXPH YRLU OD SDJH  /H PHQX /DQJXHV 26' YRXV SHUPHW GH V OHFWLRQQHU OD ODQJXH XWLOLV H VXU WRXV OHV PHQXV Gj FUDQ YRLU OD SDJH  &RQILJXUDWLRQ /DQJXH GX WH[WH )RUPDW 6\VWýPH FRXOHXU $9 5 JODJH YROXPH $9 &KRLVLU 5 JOHU 5HYHQLU 6RUWLU )RUPDW 2XHVW $XWR $XWR 6\VWýPH FRXOHXU 4 /LQN 5 JODJH 1RQ /DQJXHV 26' 5 JODJH YROXPH 4/LQN 5 JODJH /DQJXHV 26' 0(18 5þ*/$*( /H PHQX 5 JODJH SHUPHW G DFFýGHU DX[ PHQXV 5 JODJH PDQXHO HW 5 JODJH DXWRPDWLTXH $SSX\H] VXU OD WRXFKH k)l 6 OHFWLRQQH] OH PHQX &RQILJXUDWLRQ VXLYDQWH (QWUH] GDQV OH PHQX &RQILJXUDWLRQ VXLYDQWH 6 OHFWLRQQH] OH PHQX 5 JODJH (QWUH] GDQV OH PHQX 5 JODJH (QWUH] GDQV OH PHQX G PDQG $XJPHQWH] RX GLPLQXH] OH QLYHDX RX U JOH] O WDW GjRSWLRQ $SSX\H] VXU OD WRXFKH k1l SRXU VRUWLU GX PHQX 5HYHQLU &KRLVLU $FF GHU 0HQX SULQFLSDO &RQWUDVWH /XPLQRVLW &RXOHXU 1HWWHW 7HLQWH VHXOHPHQW 176& 0LQXWHULH YHLOOH 6RQ 6RUWLU &RQILJXUDWLRQ $FF GHU &KRLVLU $FF GHU 6RUWLU 5HFKHUFKH DXWR 5 JODJH PDQXHO 6\VWýPH 79 5 JODJH ILQ &KDQJHU 5HFKHUFKH DXWR YRXV SHUPHW OH U JODJH DXWRPDWLTXH GX W O YLVHXU 9RLU OD SDJH /H PHQX 5 JODJH PDQXHO YRXV SHUPHW GH U JOHU PDQXHOOHPHQW OHV SRVLWLRQV GH FKDñQHV 9RLU OD SDJH / RSWLRQ GH QRUPH DXGLR &HWWH RSWLRQ YRXV SHUPHW G HIIHFWXHU OH U JODJH ILQ GX SURJUDPPH /H PHQX &KDQJHU YRXV SHUPHW GH FKDQJHU OD SRVLWLRQ GX SURJUDPPH VHORQ YRWUH GHPDQGH 9RLU OD SDJH GH FKRLVLU OH VWDQGDUG GH WUDQVPLVVLRQ FRUUHFW VHXOHPHQW 79 &HWWH RSWLRQ HVW XWLOLV TXDQG XQ G FRGHXU HVW FRQQHFW YLD $9 /D PHWWUH O WDW $&7, 9þ 2XL VL XQ VLJQDO FRG GRLW ûWUH G FRG SDU OH G FRGHXU /D PHWWUH O WDW G VDFWLY 1RQ DSUýV OjXWLOLVDWLRQ / RSWLRQ 4/LQN SHUPHW G DFWLYHU OD WUDQVPLVVLRQ GHV GRQQ HV GDQV OH PDJQ WRVFRSH FRPSDWLEOH 9RLU OHV SDJHV HW /H PHQX 5 JODJH YROXPH YRXV SHUPHW GH U JOHU OH QLYHDX GH YROXPH SRXU OH SURJUDPPH DYHF OHV GLII UHQWV QLYHDX[ GH YROXPH VHXOHPHQW 79 &HWWH RSWLRQ YRXV SHUPHW GH EORTXHU OD SRVLWLRQ GHV SURJUDPPHV FRQWUH O DFFýV LQG VLUDEOH &RQILJXUDWLRQ /DQJXH GX WH[WH )RUPDW &RORXU V\VWHP $9 5 JODJH YROXPH $9 2XHVW $XWR $XWR 5 JODJH /DQJXHV 26' 4 /LQN $FF GHU 1RQ &+ &KRLVLU $FF GHU 5HYHQLU 0 PR 6RUWLU 5 JODJH 5HFKHUFKH DXWR 5 JODJH PDQXHO 6\VWýPH 79 5 JODJH ILQ PH FRXOHXU 79 &KDQJHU 6\VW ' $FF GHU 6& 6\VWýPH FRXOHXU /H PHQX 6\VWýPH FRXOHXU YRXV SHUPHW $XWR 1RQ FRGHXU $9 4 /LQN 5 JODJH YROXPH 79 1RQ ' FRGHXU $9 %ORTXHU 4/LQN 5 JODJH YROXPH %ORTXHU 0(18 5þ*/$*( &RQILJXUDWLRQ DXWRPDWLTXH 5HFKHUFKH DXWR /H PHQX &RQILJXUDWLRQ DXWRPDWLTXH YRXV SHUPHW GH UHFRQILJXUHU DXWRPDWLTXHPHQW YRWUH W O YLVHXU HQ IRQFWLRQ GHV FKDñQHV GH W O YLVLRQ ORFDOHV &HWWH IRQFWLRQ HVW XWLOH HQ FDV GH WUDQVSRUW GX W O YLVHXU RX GH G P QDJHPHQW GDQV XQH DXWUH U JLRQ $SSX\H] VXU OD WRXFKH k)l 6 OHFWLRQQH] OH PHQX &RQILJXUDWLRQ VXLYDQWH (QWUH] GDQV OH PHQX &RQILJXUDWLRQ VXLYDQWH 6 OHFWLRQQH] OH PHQX 5 JODJH 5 5 &+ &KRLVLU $FF GHU 5HYHQLU 0 PR 6RUWLU 5 JODJH 5HFKHUFKH DXWR JODJH PDQXHO 6\VWýPH 79 JODJH ILQ &KDQJHU 6\VWýPH FRXOHXU 79 ' FRGHXU $9 $FF GHU 6& $XWR 1RQ 4 /LQN 5 JODJH YROXPH 79 1RQ %ORTXHU (QWUH] GDQV OH PHQX 5 JODJH 6 OHFWLRQQH] OH PHQX 5HFKHUFKH DXWR 6 OHFWLRQQH] $FFýV $77(17, 21 5HG PDUUHU O $73 HIIDFHUD OHV FXWHUD GRQQýHV DFWXHOOHV HW H[ XQ QRXYHDX U JODJH $SSX\H] SRXU FRQILUPHU 0DUFKH 6 OHFWLRQQH] YRWUH SD\V $SSX\H] SRXU ODQFHU OD FRQILJXUDWLRQ DXWRPDWLTXH 5HFKHUFKH DXWR /H W O YLVHXU YD FKHUFKHU LGHQWLILHU HW WULHU GDQV O RUGUH OHV FKDñQHV GH W O YLVLRQ ORFDOHV 6L XQ PDJQ WRVFRSH FRPSDWLEOH HVW FRQQHFW OD SULVH $9 OHV SDUDPýWUHV GHV SURJUDPPHV VHURQW WUDQVPLV DXWRPDWLTXHPHQW DX PDJQ WRVFRSH YLD OD OLDLVRQ 4/LQN YRLU OD SDJH  8QH IRLV FHWWH RS UDWLRQ WHUPLQ H OH W O YLVHXU DIILFKHUD OD SRVLWLRQ GH SURJUDPPH 79$9 ' EXW $73 5HYHQLU 6RUWLU 3D\V 'HXWVFKODQG )UDQFH , WDOLD 1HGHUODQGV (VSDÆD (8 &KRLVLU ' EXW $73 6RUWLU 5HYHQLU $SSX\H] VXU OD WRXFKH k)l SRXU FRXSHU OD V TXHQFH 5HFKHUFKH DXWR $SSX\H] VXU OD WRXFKH k1l SRXU VRUWLU GH OD V TXHQFH 5HFKHUFKH DXWR $73 (1 &2856 &+ %%& ) 5HYHQLU 1 7R 6RUWLU 0(18 5þ*/$*( 5þ*/$*( 0$18(/ /H U JODJH PDQXHO GHV SRVLWLRQV GH SURJUDPPHV SHXW V HIIHFWXHU O DLGH GHV WRXFKHV HQ IDDGH $SSX\H] VXU OD WRXFKH k)l 6 OHFWLRQQH] OH PHQX &RQILJXUDWLRQ VXLYDQWH (QWUH] GDQV OH PHQX &RQILJXUDWLRQ VXLYDQWH 6 OHFWLRQQH] OH PHQX 5 JODJH (QWUH] GDQV OH PHQX 5 JODJH SDUWLU GX PHQX VXU O FUDQ RX &+ &KRLVLU $FF GHU 5HYHQLU 0 PR 6RUWLU 5 JODJH 5 JODJH PDQXHO 6\VWýPH 79 5 JODJH ILQ $XWR 1RQ &KDQJHU 6\VWýPH FRXOHXU 79 ' FRGHXU $9 5HFKHUFKH DXWR $FF GHU 6& 4 /LQN 5 JODJH YROXPH 79 1RQ %ORTXHU 6 OHFWLRQQH] OH PHQX 5 JODJH PDQXHO (QWUH] GDQV 5 JODJH PDQXHO 6 OHFWLRQQH] OD SRVLWLRQ GH SURJUDPPH G VLU H &RPPHQFH] OH U JODJH 4XDQG OH SURJUDPPH YRXOX HVW ORFDOLV DSSX\H] VXU OH WRXFKH k79$9l HQ W O FRPPDQGH RX VXU OD WRXFKH k675l HQ IDDGH SRXU P PRULVHU $SSX\H] VXU OD WRXFKH k1l SRXU VRUWLU GX PHQX 79$9 675 5 JODJH PDQXHO &+ &KRLVLU ' EXWHU UHFKHUFKH 5HYHQLU 0 PR 6RUWLU 5 JODJH PDQXHO FRPPDQGHV HQ IDDGH $SSX\H] GH QRXYHDX VXU OD WRXFKH ) GH IDDGH SRXU HQWUHU GDQV OH 0HQX 5 JODJH PDQXHO $SSX\H] VXU OD WRXFKH kl RX kl SRXU HQWUHU GDQV OH PHQX 5 JODJH PDQXHO $SSX\H] VXU OD WRXFKH k79$9l SRXU DOWHUQHU HQWUH k3URJl l' EXWHU UHFKHUFKHl RX k6\VWýPH 79l $SSX\H] VXU OD WRXFKH kl RX kl SRXU FKDQJHU OD SRVLWLRQ GX SURJUDPPH FRPPHQFHU OD UHFKHUFKH RX FKDQJHU OH V\VWýPH 79 4XDQG OD FKDñQH YRXOXH HVW ORFDOLV H DSSX\H] VXU k675l SRXU P PRULVHU 5 S WH] OD SURF GXUH FLGHVVXV SRXU DFFRUGHU GjDXWUHV SURJUDPPHV RX DSSX\H] VXU OD WRXFKH k)l SRXU VRUWLU ) d b 79$9 d b 675 1RWH 6L YRXV FRQQDLVVH] OHV QXP URV GHV FDQDX[ YRXV SRXYH] XWLOLVHU OH V OHFWLRQ GLUHFWH GDQV OH PHQX k5 JODJH PDQXHOl $SSX\H] VXU OD WRXFKH k&l HQ W O FRPPDQGH SRXU OD P PRULVDWLRQ UDSLGH GHV FKDñQHV HQWUH] GDQV OH PHQX 5 JODJH PDQXHO GRQQH] OH QXP UR GH OH SU V OHFWLRQ DSSX\H] VXU OD WRXFKH k&l SDU OH FODYLHU QXP ULTXH GRQQHU OH QXP UR GX FDQDO DSSX\H] VXU OD WRXFKH k79$9l SRXU P PRULVHU DSSX\H] VXU OD WRXFKH k1l SRXU VRUWLU GX PHQX 3RXU OD V OHFWLRQ GLUHFWH GX FDQDO GH k+\SHUl FKDñQH W O YLVLRQ GH F EOH DSSX\H] VXU OHV WRXFKHV GH OD V OHFWLRQ GLUHFWH GX FDQDO HW OHV WRXFKHV GH OD V OHFWLRQ GX SURJUDPPH k&l k l HW SDU OHV WRXFKHV QXP ULTXHV V OHFWLRQQH] OH QXP UR 6XU Oj FUDQ HVW DIILFK k&+ l HW SXLV k+ l 0 PRULVDWLRQ YRLU FLGHVVXV ) &+$1*(0(17 '(6 326, 7, 216 '( 352*5$00( /D V OHFWLRQ k&KDQJHUl YRXV SHUPHW FKDQJHU GHX[ SRVLWLRQV GX SURJUDPPH VRLPûPH $SSX\H] VXU OD WRXFKH k)l 6 OHFWLRQQH] OH PHQX &RQILJXUDWLRQ (QWUH] GDQV OH PHQX &RQILJXUDWLRQ &KRLVLU 5 JOHU 6 OHFWLRQQH] OH PHQX 5 JODJH (QWUH] GDQV OH PHQX 5 JODJH 6 OHFWLRQQH] OH PHQX &KDQJHU (QWUH] GDQV OH PHQX &KDQJHU 6 OHFWLRQQH] SUHPLýUH SRVLWLRQ GX SURJUDPPH 6 OHFWLRQQH] VHFRQGH SRVLWLRQ GX SURJUDPPH $SSX\H] VXU OD WRXFKH k79$9l SRXU FRQILUPHU OD V OHFWLRQ $SSX\H] VXU OD WRXFKH k1l SRXU VRUWLU GX PHQX 79$9 &KDQJHU 3URJ DYHF 3URJ &+ &+ 5HYHQLU &KDQJHU 6RUWLU %%& , 79 /$1*8(6 26' /RUV GH O LQVWDOODWLRQ LQLWLDOH GX W O YLVHXU OD ODQJXH G DIILFKDJH VXU O FUDQ D W U JO H HQ IRQFWLRQ GX SD\V GH YRWUH FKRL[ 9RXV SRXYH] FHSHQGDQW V OHFWLRQQHU XQH DXWUH ODQJXH SDUWLU GX PHQX /DQJXHV 26' $SSX\H] VXU OD WRXFKH k)l 6 OHFWLRQQH] OH PHQX &RQILJXUDWLRQ &KRLVLU &KRLVLU 5HYHQLU 6RUWLU (QWUH] GDQV OH PHQX &RQILJXUDWLRQ 6 OHFWLRQQH] OH PHQX /DQJXHV 26' (QWUH] GDQV OH PHQX /DQJXHV 26' 6 OHFWLRQQH] OjRSWLRQ GH YRWUH FKRL[ $SSX\H] VXU OD WRXFKH k1l SRXU FRQILUPHU HW VRUWLU GX PHQX /DQJXHV 26' 'HXWVFK (QJOLVK (VSDÆRO 1RUVN 'DQVN 6YHQVND 1HGHUODQGV 6XRPL 7ÚUNH 3RUWXJXûV )UDQDLV , WDOLDQR (//+1, . $ 4 /, 1. /D OLDLVRQ 4/LQN SHUPHW DX W O YLVHXU GH FRPPXQLTXHU DYHF OH PDJQ WRVFRSH $SSX\H] VXU OD WRXFKH k)l 6 OHFWLRQQH] OH PHQX &RQILJXUDWLRQ 5HYHQLU &KRLVLU 5 JOHU 6RUWLU (QWUH] GDQV OH PHQX &RQILJXUDWLRQ 6 OHFWLRQQH] 4/LQN &RQILUPH] TXH OD OLDLVRQ 4/LQN HVW kDFWLY l 2XL Oj WDW &RQILJXUDWLRQ /DQJXH GX WH[WH )RUPDW &RORXU V\VWHP $9 5 2XHVW $XWR $XWR 4 /LQN 5 JODJH JODJH YROXPH $9 2XL /DQJXHV 26' $SSX\H] VXU OD WRXFKH k1l SRXU VRUWLU GX PHQX /H PDJQ WRVFRSH GRLW ûWUH FRQQHFW SDU XQ F EOH 6&$573(5, 7(/ W\SH FRXYUDQW WRXWHV IRQFWLRQV HQWUH OD SULVH $9 GX W O YLVHXU HW OD SULVH FRUUHVSRQGDQWH GX PDJQ WRVFRSH &RQVXOWH] OH PRGH GjHPSORL GX PDJQ WRVFRSH SRXU WRXV UHQVHLJQHPHQWV FRPSO PHQWDLUHV /D OLDLVRQ 4/LQN 1(;79, (:/, 1. [. . . ] [. . . ]