(In)certitudes et adaptation au climat futur

!
!
!
!!!!!
!!!!!
!
"#$$#%&'()'*+,!
!
!-./01234546728!24!979:4945;/!96!1<5=94!>6463!
!
?@(?A!/;B2=C32!DE?FG!"HIJ!K267;/G!L39/12!
!
#$"%&''&()$*+,-./"."0&%./1&2"3".4,'1&5$5"3"'."6&17"'."1;=:3MN2/85;/! 728! 5/1234546728! 863! <2! 1<5=94!
>64638"$/"'$)5":3582! 2/! 1;=:42"+.27"'$7"+,%171&27"9)-'1()$7"$/"9510,$7"$2"6.0$)5"+$"':.+.9/./1&2".)"
%;.2<$4$2/"%'14./1()$"+:)2"/$551/&15$8"+:)2$"9&9)'./1&2"&)"+:)2"7$%/$)5=">'"2$"017$"9.7"3"$2/5$5"+.27"
'$" +,/.1'" +$" '." %.5.%/,517./1&2" +$7" 12%$5/1/)+$7" %'14./1()$78" 4.17"9')/?/" 3" +5$77$5" )2" -1'.2" +$7"
-.551@5$7"()$"9&7$"%$//$"12%$5/1/)+$"$2"4./1@5$"+:1+$2/161%./1&2"+$"7/5./,<1$7"%&2%5@/$7"+:.+.9/./1&2="
#$" %&''&()$*+,-./" %;$5%;$" .1271" 3" 1;/>3;/423! <28! 8:NO328! 72! <9! 8152/12! 24! 72! <P9145;/8" $/" +&2%" 3"
9&71/1&22$5" '$7" ,%;.2<$7" .)" %.55$6&)5" +$" +166,5$2/7" 4&+$7" +:.995,;$271&2" +$7" 5,.'1/,7" $/" +$"
+166,5$2/$7" %)'/)5$7" 95&6$771&22$''$7=" A:&-B$%/16" +:.+.9/./1&28" +,7&54.17" 149,5./168" 149&7$" $2" $66$/"
+$" +,9.77$5" '$7" 95&-'@4$7" 9&7,7" 9.5" ':$C17/$2%$" +:12%$5/1/)+$7" %'14./1()$78" 9&)5" 7$" 9&7$5" '$7"
D"-&22$7"E"()$7/1&27" F9.5" $C=8" D"()$''$7" &9/1&27" &2/" '$" 9')7" +$" %;.2%$7" +$" 7$" 5,0,'$5" $661%.%$7" 3"
':.0$215"G"EH="I$"2&)0$''$7"-.7$7"+$"+1.'&<)$"7&2/"$2"%$"7$27"2,%$77.15$7="I.27"%$//$"9$579$%/10$8"%$"
%&''&()$*+,-./" 7:.99)1$5." 3" '." 6&17" 7)5" 728! 1;==6/51945;/8! 72! 1N231N2638! 95&9&7.2/" )2" ,/./"
.%/).'17,"+$7"%&22.177.2%$7"7%1$2/161()$7".)"4&4$2/"&J"7:.%;@0$"'$"95&%$77)7"+:&661%1.'17./1&2"612.'$"
+$7"/5&17"0&'$/7"+)"K@4$"5.99&5/"+)"L>M#8"$/"7)5"728!5/423B2/45;/8!7P9142638!()1"/,4&1<2$5&2/"+$"'$)5"
95&95$"$C9,51$2%$"+$"/$55.12="
#$"%&''&()$*+,-./"$7/"%&2%5@/$4$2/"&5<.217,".)/&)5"+$"()$'()$7"1;/>M32/128!7P;6B2346328"9)17"+$"
Q!8M9/128!:<M/5O328"$/"+$"Q!49C<28!3;/7288"+.27"':&9/1()$"+$"'.177$5")2$"9'.%$"149&5/.2/$".)C"/$497"
+$"+,-./="N)0$5/"3")2"<93R2!:6C<51"F.%/$)57"9)-'1%7"$/"9510,78"%;$5%;$)578",/)+1.2/7"+$"+10$57";&51O&27"
+17%19'12.15$7H8" 1'" .4-1/1&22$" +$" 6.15$" ,4$5<$5" +$7" 5$%&44.2+./1&27" 3" ':12/$2/1&2" +$7" +166,5$2/7"
.%/$)57"%&2%$52,7"9.5"':$2B$)"+$"':.+.9/./1&28"9.5"$C$49'$".)"/5.0$57"+$"'."()$7/1&2"+$7"D"7$501%$7"
%'14./1()$7"E=""
P2" 9&12/" 6&5/" +$" %$" %&''&()$" 7$5." '." 9.5/1%19./1&2" .%/10$" +Q)2" <5&)9$" +:,/)+1.2/7" $2" 612" +$" %R%'$" $/"
.R.2/")2$"$C9$5/17$"5$95,7$2/./10$"+$7"+166,5$2/$7"()$7/1&27".-&5+,$7="#$"<5&)9$"9&5/$5."'."0&1C"+$7"
S!9142638! 72! 72=95/!T" $/" 7$5." 149'1()," 3" /5&17" 210$.)C"S" 5,.'17./1&2" +$" '." 7R2/;@7$" +$7" +,-./7"T"
9.5/1%19./1&2".)C"+,-./7"$2".99&5/.2/")2"5$<.5+"%51/1()$"$/"D"2$)6"E"7)5"'$7"95&9&71/1&27"$/"()$7/1&27"
.-&5+,$7" +.27" '$7" +166,5$2/$7" 7$771&27"T" 6&54)'./1&2" +$7" 5$%&44.2+./1&27" 9&)5" '." 417$" $2" 9'.%$"
+Q.%/1&27" %&2%5@/$7" 9$54$//.2/" +$" 41$)C" /5.1/$5" 'Q12%$5/1/)+$" +.27" '$7" ()$7/1&27" +Q.+.9/./1&2" .)"
%'14./"6)/)5="
"
!
!"
";/>M32/128!7P;6B234632="!"#"$%&$'(#)"$&"$*+,"-.*&$%&$")#/#01$#,"2)3&0)*""
A$7"%&26,5$2%$7"+:&)0$5/)5$"9$54$//5&2/"+$"%.+5$5"'$"7)B$/"$/"'$7".//$2/$7"+$7"B&)52,$7"9.5"5.99&5/"S"
.)C" +166,5$2/$7" 7&)5%$7" +:12%$5/1/)+$7" ()1" $2/5$2/" $2" '1<2$" +$" %&49/$" +.27" '$7" ()$7/1&27"
+:.+.9/./1&2" .)" %;.2<$4$2/" %'14./1()$"T" 3" '." 6.V&2" +&2/" $''$7" 7&2/" .995,;$2+,$7" +.27" '$7" /5.0.)C"
+$7"<5&)9$7"!"$/"U"+)"L>M#"T"$/".)C"+1661%)'/,7"%&2%5@/$7"():$''$7"9&7$2/"9&)5"':.1+$"3"'."+,%171&2=""
A$7" 8M9/128! :<M/5O328" 7:.5/1%)'$5&2/" .)/&)5" +$! Q! =2889R28! 1<M8"S" D"I$551@5$" '$7" 12%$5/1/)+$78" 1'" R" ."
-$.)%&)9" +$" %$5/1/)+$7"E8" D"I166,5$2/7" .%/$)578" +166,5$2/$7" %&2%$9/1&27" +$" ':12%$5/1/)+$"E8" $/"
D"A:$C17/$2%$"+:12%$5/1/)+$7"+&1/"12%1/$5"3"7$"9&7$5"'$7"-&22$7"()$7/1&27"E="
JM9/12!:<M/5O32!?U$$455)2-&,%&)$'&*$)2*0'"#"*$%&*$5)67&8"36,*$8'39#"3:0&*$;$8&)"3"0%&*$&"$3,8&)"3"0%&*$$"
!"#$%&' #($&%"$)&' *++,"&-' ("&' &.%"+."&' /$' .(%0*1' "1' /"&' %0#*.1&' 2+1' /,3"(2##,' $+"' *)4$0"+1*1%2+' &$)' (*'
.*)*.1,)%&*1%2+' /"&' %+.")1%1$/"&' /"&' #)25".1%2+&' .(%0*1%6$"&-'"1' "(("&' &7*11*.8"+1' 9' /%::$&")' /"&' ;2++"&'
#)*1%6$"&'#2$)'$1%(%&")'("&'),&$(1*1&'/"&'02/<("&'/*+&'/%::,)"+1&'1=#"&'/7*##(%.*1%2+&'>#*)'"?"0#("'("&',1$/"&'
/7%0#*.1@A'B7%+.")1%1$/"'"&1'/7*%(("$)&'"(("C0D0"'/"3"+$"'$+'&$5"1'1)<&'0,/%*1%&,-'*3".'#2$)'"::"1'#")3")&'/"'
:2.*(%&")'(7*11"+1%2+'&$)'."&'%+.")1%1$/"&A'E%+&%-'"+'/"82)&'/"'(*'&#8<)"'/"&'&#,.%*(%&1"&'/$'.(%0*1-'(7"?%&1"+."'
/7%+.")1%1$/"&' *' "$' 1"+/*+."' 9' D1)"' $1%(%&,"' .200"' $+' *)4$0"+1' 5$&1%:%*+1' (7%+*.1%2+' :*."' *$' .8*+4"0"+1'
.(%0*1%6$"' "+' .2$)&'F' G'.200"+1' #"$1C2+' &"' #),#*)")' 0*%+1"+*+1' 9' 6$"(6$"' .82&"' 6$"' (72+' +"' #"$1' #*&'
*##),8"+/")'#),.%&,0"+1'H'IA'J2$)1*+1-':*$1C%('+,."&&*%)"0"+1'*11"+/)"'6$"'(*'&.%"+."'/$'.(%0*1'),/$%&"'(*'
:2$).8"11"' /"&' %+.")1%1$/"&'H' K+' ),*(%1,-' +"' /%&#2&"C1C2+' #*&' /,59' /"' &$::%&*00"+1' /7%+:2)0*1%2+' #2$)'
%/"+1%:%")' ("&' 0"%(("$)"&' 2#1%2+&'H' E%+&%-' &%' (72+' *.."#1*%1' /"' )".2++*L1)"' 6$"' (7%+.")1%1$/"' +7"&1' "+' :*%1' 6$"'
(7*);)"'6$%'.*.8"'(*':2)D1'>/"'.")1%1$/"&@-'6$"(("&'%0#(%.*1%2+&'."(*'*$)*%1C%('#2$)'(*'/,.%&%2+'"1'(7*.1%2+'H''
M"11"'&,*+."'#(,+%<)"'N'.(*)%:%")*'("&';*&"&'/"'(*'.2++*%&&*+."'&.%"+1%:%6$"'&$)'("&'>%+@.")1%1$/"&'.(%0*1%6$"&'
"1'("&'%0#*.1&':$1$)&A''
C'B"&'&2$)."&'/7%+.")1%1$/"'.(%0*1%6$"'F'6$"'+2$&'/%&"+1C"(("&'/"&'.")1%1$/"&'6$"'(72+'#"$1'*32%)'H'K1'#2$))*C1C
2+'),/$%)"'/)*&1%6$"0"+1'(7%+.")1%1$/"'/*+&'("':$1$)'H'O%'2$%-'9'6$"(("',.8,*+."'H'O%'+2+-'#2$)6$2%'H'
C'M"'6$"'(72+'&*%1'/"&'%0#*.1&':$1$)&-'"1'."'6$"'(72+'+"'&*%1'#*&'>;%(*+'/$'32("1'P'/$'Q
<0"
')*##2)1'/$'RSKM@'T'
C' M200$+%6$")' &$)' (7%+.")1%1$/"' .(%0*1%6$"' *$?' &#8<)"&' /"&' +2+C&#,.%*(%&1"&'F' .200"+1' ("' :*%1C2+'
*$52$)/78$%'H'B7"?").%."'+7%+/$%1C%('#*&'+,."&&*%)"0"+1'("')%&6$"'/72$;(%")'/"'#*)(")'/"&'G'.")1%1$/"&'I'H'
JM9/12!:<M/5O32!DU$<3==2)&,"*$#8"&0)*>$%3==2)&,"&*$86,8&5"36,*$%&$'(3,8&)"3"0%&$$
O%'(7%+.")1%1$/"'.(%0*1%6$"'2..$#"'$+"'#(*."'#*)1%.$(%<)"'/*+&'("&'),:("?%2+&'&$)'(*'3$(+,)*;%(%1,'"1'(7*/*#1*1%2+'
*$' .8*+4"0"+1' .(%0*1%6$"-' %(' "&1' #)%02)/%*(' /"' .20#)"+/)"' 6$7"(("' 3*' &"' .20;%+")' 9' /7*$1)"&' :2)0"&'
/7%+.")1%1$/"&' #2$)' "?#(%6$")' #2$)6$2%' #)"+/)"' /"&' /,.%&%2+&' &$)' (7*3"+%)' +7"&1' 5*0*%&' *%&,-' +%' ("&' ),&$(1*1&'
4*)*+1%&A' B7%+.")1%1$/"' &$)' ("' :$1$)' .*)*.1,)%&"' ,4*("0"+1' ("&' 1"+/*+."&' &2.%2,.2+20%6$"&-' ("&' 02/"&' /"'
.2+&200*1%2+-' ("&' )*##2)1&' &2.%*$?-' (*' .*#*.%1,' /7*/*#1*1%2+' /"&' "&#<."&' 3,4,1*("&' "1' *+%0*("&-' "1.A'!<&'
(2)&-' ("&' /,0*).8"&' #)2&#".1%3"&-' 6$%' &2+1' *$' .U$)' /"' (7"+5"$' /7*/*#1*1%2+' *$' .8*+4"0"+1' .(%0*1%6$"-'
/"0*+/"+1' +,."&&*%)"0"+1' /"' .20;%+")' /"&' %+.")1%1$/"&' /"' +*1$)"&' 3*)%,"&' "1-' /*+&' ."' .2+1"?1"-' /72&")'
:*%)"'/"&'.82%?'"1'#)"+/)"'/"&'/,.%&%2+&'G'3%&%2++*%)"&'IA''
M"11"' &,*+."' #(,+%<)"' P' 3%&")*' /2+.' 9' .(*)%:%")' ."' 6$"' ("&' $+&' "1' ("&' *$1)"&' "+1"+/"+1' #*)' G'>%+@.")1%1$/"'I-'
#2$)' %/"+1%:%")' ("&' .2+1)*/%.1%2+&' "1V2$' ("&' #2%+1&' /"' .2+3")4"+."' "+1)"' ."&' /%::,)"+1&' )"4*)/&A' K(("' :")*'
/7*;2)/' ("' #2%+1' &$)' (*' /,0*).8"' #)2&#".1%3"' "1' &$)' &2+' #2&%1%2++"0"+1' 18,2)%6$"' #*)' )*##2)1' *$?'
>%+@.")1%1$/"&-' #$%&' &7*)1%.$(")*' *$12$)' /"' #($&%"$)&' #2%+1&' /"' 3$"' /7*.1"$)&' .2+:)2+1,&' 9' (*' 4"&1%2+' "+'
N
.2+1"?1"'/7%+.")1%1$/" A'K(("'"+1"+/',.(*%)")'/%3")&"&'6$"&1%2+&'0*5"$)"&'F'>%+@.")1%1$/"-'6$%'#*)("'/"'6$2%'H'K1'
6$"(&'/"4),&'/"'#),.%&%2+'&$)'("&'/2++,"&'.(%0*1%6$"&':$1$)"&'&2+1'+,."&&*%)"&'9'(*'#)%&"'/"'/,.%&%2+-'"1'/2+.'
9'#*)1%)'/"'6$"(&'&"$%(&'/*3*+1*4"'/"'#),.%&%2+'+7%0#(%6$"'#*&':2).,0"+1'/"'0"%(("$)"&'#)%&"&'/"'/,.%&%2+'H'
C'B7%+1,4)*1%2+'/"&'.")1%1$/"&'"1'/"&'%+.")1%1$/"&'/*+&'("&'/,0*).8"&'#)2&#".1%3"&''
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
!
"A$"9&12/"+$"0)$"+)"%'14./&'&<)$"7)5"'$7"12%$5/1/)+$7".R.2/",/,"'.5<$4$2/"$C9&7,"'&57"+$"'."7,.2%$"9',21@5$"!8"'."7,.2%$"
9',21@5$"U"2:R"5$01$2/"9.7"79,%161()$4$2/=""
!
U"
C' B7%+.")1%1$/"' &"(2+' /%::,)"+1&' *.1"$)&' >#$;(%.' +*1%2+*(-' #$;(%.' (2.*(-' #)%3,' (2.*(-' "1.A@' F' 6$"(("&' :2)0"&'
/7%+.")1%1$/"&'#)"+/)"'"+'.20#1"-'"1'.200"+1'("&'.20;%+")'H'
JM9/12!:<M/5O32!QU$?(&13*"&,8&$%(3,8&)"3"0%&*$%63"$3,83"&)$@$*&$56*&)$'&*$A6,,&*$:0&*"36,*$
M200"')*##"(,'"+'%+1)2/$.1%2+-'("&'%+.")1%1$/"&'+"'#"$3"+1'#*&'D1)"'.2+&%/,),"&'.200"'$+"'"?.$&"'#2$)'
G'*11"+/)"' "1' +"' )%"+' :*%)"'IA' S(' "&1' "+' ),*(%1,' +,."&&*%)"' 6$"' (*' &2.%,1,' .8*+4"' /"' )"4*)/' "1' .2+&%/<)"'
(7"?%&1"+."'/7%+.")1%1$/"&'.(%0*1%6$"&'+2+'$+%6$"0"+1'.200"'$+"';*))%<)"'9'(*'/,.%&%2+'"1'9'(7*.1%2+-'0*%&'
,4*("0"+1' .200"' $+"' %+.%1*1%2+' 9' &"' #2&")' ("&' ;2++"&' 6$"&1%2+&'F' 6$"(("' "&1' ("' #2%/&' /"' (7%+:2)0*1%2+'
.(%0*1%6$"' /*+&' ("' #)2."&&$&' /"' ),/$.1%2+' /"' (*' 3$(+,)*;%(%1,' *$' .8*+4"0"+1' .(%0*1%6$"'H' W$"(&' &2+1' ("&'
/,1")0%+*+1&' /"' ."11"' 3$(+,)*;%(%1,-' "1' 6$"(("' "&1' (*' #*)1' /"&' :*.1"$)&' +*1$)"(&' "1' *+18)2#%6$"&' H' S.%'
,4*("0"+1-'6$"(&'/"4),&'/"'#),.%&%2+'/"&'/2++,"&'&$)'("'.(%0*1':$1$)'52$"+1'$+')X("'/"':*.1"$)'(%0%1*+1-'"1'
6$"(&'&"$%(&'.2+1)*%4+*+1&'"+3%&*4")'H'K1.A'
M"11"'&,*+."'#(,+%<)"'Y'&7*)1%.$(")*'*$12$)'/"'#($&%"$)&'*?"&-'#*)0%'("&6$"(&'F'
C'!"'6$"(("'#),.%&%2+'"+'1")0"&'/"'/2++,"&'.(%0*1%6$"&'*C1C2+'),"(("0"+1';"&2%+'H'
C'E$C/"(9'/$':*%1'6$"'G':2$)+%)'/"&'/2++,"&'.(%0*1%6$"&'*$?'$1%(%&*1"$)&'"&1'$+'#2%+1'/"'/,#*)1'I-'("&'&")3%."&'
.(%0*1%6$"&' 2+1' *$&&%' 32.*1%2+' 9' 52$")' ("' )X("' /"' 1)*/$.1"$)' "+1)"' ("&' &#,.%*(%&1"&' "1' ("&' $1%(%&*1"$)&'
#")0"11*+1' /"' 0%"$?' 6$*(%:%")' ("' .8*+4"0"+1' .(%0*1%6$"' "+' 1")0"&' /7%0#*.1&' #8=&%6$"&' &$)' ("&' 0%(%"$?'
"1V2$'("&'*.1%3%1,&A'!<&'(2)&-'$+"'6$"&1%2+C.(,'&7%0#2&"'9'12$1'&")3%."'.(%0*1%6$"'F'6$"(&'&2+1'("&';"&2%+&'"+'
1")0"&' /"' .*)*.1,)%&*1%2+' /"&' %+.")1%1$/"&' >+%3"*$' /"' #),.%&%2+-' #*)' "?"0#("@-' 6$"(&' &2+1' ("&' #)%+.%#*$?'
:)"%+&'9'(7%+1,4)*1%2+'/"'."&'%+.")1%1$/"&-'"1'.200"+1'.200$+%6$")'9'("$)'&$5"1'#2$)'5$&1"0"+1'/,#*&&")'
."&';*))%<)"&'H''
C'O%':*%)"'/$'G'&*+&')"4)"1'I'2$'/$'G')2;$&1"'I'.2+&1%1$"'$+'#2%+1'/"'/,#*)1'.2+.)"1'#2$)'(*'#)%&"'/"'/,.%&%2+'
"1'(7*.1%2+-'."(*'&$::%)*C1C%('H''
Q! 49C<28! 3;/728"9$54$//5&2/"+$"4$//5$"$2"+,-./"'$7",',4$2/7"7&)'$0,7"+.27"'$7"7,.2%$7"9',21@5$78"
$2"9&7.2/"'."()$7/1&2"+$"':12/,<5./1&2"+$7"12%$5/1/)+$7"+.27"'$7"%;&1C"9&'1/1()$7"$/"&9,5./1&22$'7"$2"
4./1@5$" +$" 5,+)%/1&2" +$7" 517()$7" .%/)$'7" $/" +:.+.9/./1&2" .)" %;.2<$4$2/" %'14./1()$=" #;.%)2$" +$7"
/.-'$7"5&2+$7"7$"%&2%$2/5$5."7)5")2"7$%/$)5"9.5/1%)'1$5"$/"5,)215."7%1$2/161()$7"$/".%/$)57!+.27"'$"-)/!
+$"1;/>3;/423!728!:;5/48!72!B62!24!728!2V:M352/1288"$/"+$"'.2%$5")2"7MC94!.0$%"'."7.''$="
,9C<2!3;/72!?U"B,%0*")3&$C&#0>$2,&)D3&EF"
B"' 02+/"' /"' (7%+/$&1)%"-' #*)."' 6$7%(' "&1' 9' (72)%4%+"' /"' &")3%."&' "&&"+1%"(&' *$' :2+.1%2++"0"+1' /"&' &2.%,1,&'
>"?1)*.1%2+' /"' 0*1%<)"&' #)"0%<)"&-' #)2/$.1%2+' /7,+")4%"-' &=&1<0"&' /"' 1)*+&#2)1-' #)2/$.1%2+' *(%0"+1*%)"-'
&")3%."&-'"1.A@-'"&1'#*)1%.$(%<)"0"+1'.2+.")+,'#*)'(7"+5"$'/"'(7*/*#1*1%2+A'B"&'4)*+/"&'"+1)"#)%&"&'("'&*3"+1'
#")1%+"00"+1-'"1'+20;)"$&"&'&2+1'."(("&'6$%'/,3"(2##"+1'"(("&C0D0"&-'*$'&"%+'/"'("$)&'$+%1,&'G'Z".8").8"'
"1' !,3"(2##"0"+1'I-' /"&' 2$1%(&' /"' #)2&#".1%3"' &$)' ("&' .2+/%1%2+&' .(%0*1%6$"&' :$1$)"&' "1' ("$)&' %0#(%.*1%2+&'
#2$)' ("$)&' *.1%3%1,&' )"&#".1%3"&' >.2+1)*%+1"&' 9' (*' #)2/$.1%2+-' ,32($1%2+' /"&' 0*).8,&-' "1.A@A' M2+.)<1"0"+1-'
6$"(&'#)2;(<0"&'(7%+.")1%1$/"'#2&"C1C"(("'9'."&'4)*+/&'4)2$#"&-'"1'6$"(&'02="+&'/,#(2%"+1C%(&'#2$)'),#2+/)"'
9' ."&' #)2;(<0"&'H' W$"(&' "+&"%4+"0"+1&' 1%)")' /"&' +20;)"$&"&' ,1$/"&' 6$%' )"&1"+1' "+.2)"' 1)2#'
.2+:%/"+1%"(("&'H'M200"+1'."&'"+1)"#)%&"&'1)*%1"+1C"(("&'("&'.")1%1$/"&'.(%0*1%6$"&'H'J*)'*%(("$)&-'6$7"+'"&1C%('
/"&' #($&' #"1%1"&' "+1)"#)%&"&-' 6$%' +"' #"$3"+1' /,3"(2##")' ."&' 2$1%(&' #)2&#".1%:&' "+' %+1")+"' "1' &2+1' /2+.'
/*3*+1*4"'/,#"+/*+1"&'/7*.1"$)&'"?24<+"&'>(*;2)*12%)"&'&.%"+1%:%6$"&-';$)"*$?'/7,1$/"-'"1.A@'H$
,9C<2!3;/72!DU$G6'3"3:0&*$50A'3:0&*$
M200"+1' (7%+.")1%1$/"' "&1C"(("' .20#)%&"-' /%&.$1,"' "1' %+1,4),"' *$?' #2(%1%6$"&' #$;(%6$"&' /"' ),/$.1%2+' /"' (*'
3$(+,)*;%(%1,'*$'.8*+4"0"+1'.(%0*1%6$"'/"'&".1"$)&-'/"'4)2$#"&'/"'#2#$(*1%2+-'/"'1"))%12%)"&'H'K1'."'1*+1'9'
(7,.8"(("'+*1%2+*("'>/*+&'("'J(*+'[*1%2+*('/7E/*#1*1%2+'*$'M8*+4"0"+1'M(%0*1%6$"-'#*)'"?"0#("@'6$"'(2.*("'
>/*+&' $+' J(*+' M(%0*1' \+")4%"' ]"))%12)%*(-' #*)' "?"0#("@'H' B"&' ,.8"(("&' &#*1%*("&' "1' ("&' #*&' /"' 1"0#&'
&%4+%:%.*1%:&'/"&'>%+@.")1%1$/"&'&$)'("'#(*+'&.%"+1%:%6$"'("'&2+1C%(&'/$'#2%+1'/"'3$"'/"'(7,(*;2)*1%2+'"1'/"'(*'0%&"'
"+' U$3)"' /"' #2(%1%6$"&' #$;(%6$"&' .20#*1%;("&' *3".' ("' .8*+4"0"+1' .(%0*1%6$"'H' K1' ."&' %+.")1%1$/"&'
.(%0*1%6$"&' .2+&1%1$"+1C"(("' +,."&&*%)"0"+1' $+' ,(,0"+1' ."+1)*(' >"1' /2+.' $+' :*.1"$)' ;(26$*+1@' #2$)' ."&'
#2(%1%6$"&' #$;(%6$"&-' 2$' ;%"+' +7"+1)"+1C"(("&' :%+*("0"+1' "+' (%4+"' /"' .20#1"' 6$"' /"' :*^2+' 0%+"$)"' #*)'
!
W"
)*##2)1-' #*)' "?"0#("-' *$?' /%0"+&%2+&' ,.2+20%6$"&' "1' &2.%*("&' /$' .8*+4"0"+1'/"' 1)*5".12%)"'H' K+:%+-' %.%'
*$&&%-'6$"(>&@')X(">&@'("&'.")1%1$/"&'.(%0*1%6$"&'52$"+1C"(("&'H$
,9C<2!3;/72!QU$?&*$*&)/38&*$8'39#"3:0&*>$#0H%&'@$%&$'#$*&0'&$=60),3"0)&$%&$%6,,2&*$8'39#"3:0&*E$
O$)' ("' 1"))*%+-' %(' *##*)*L1' .(*%)"0"+1' 6$"' :2$)+%)' /"&' /2++,"&' .(%0*1%6$"&' +7"&1' 6$7$+' #*+' /$' G'&")3%."'I'
.(%0*1%6$"-' /"' (7*%/"' 6$"' (*' &.%"+."' #"$1' *##2)1")' 9' (*' /,.%&%2+' "1' 9' (7*.1%2+A' _+' ),"(' ;,+,:%."' "&1' *$&&%'
*11"+/$' /7$+"' .2+."#1%2+' #")0"11*+1' /7%+1,4)")-' #*)' "?"0#("-' (7*+*(=&"' /"&' %0#*.1&' #21"+1%"(&' /"&'
02/%:%.*1%2+&'/$'.(%0*1-'(9'"+.2)"'&$)'/"&'&".1"$)&-'/"&'4)2$#"&'/"'#2#$(*1%2+-'2$'/"&'1"))%12%)"&A'`*%&'."(*'
&$##2&"-'"+'#*)*((<("'/7"::2)1&'/"'(*'#*)1'/$'02+/"'&.%"+1%:%6$"-'/"'/,3"(2##")'("&'.*#*.%1,&'/"&'*.1"$)&'9'
$1%(%&")' ."&' G'&")3%."&'I-' ."' 6$%' )"+32%"' 9' /"&' 6$"&1%2+&' /"' )"&#2+&*;%(%1,&-' /"' .20#,1"+."&-' /"' :2)0*1%2+-'
"1.A'B72+'12$.8"'%.%'(*'+,."&&%1,'/"'.(*)%:%")'.2((".1%3"0"+1'6$"(&'&2+1'("&';"&2%+&'#)2:2+/&'/"'(*'&2.%,1,'.%3%("'
"+' 0*1%<)"' /"' .2++*%&&*+."' &$)' ("&' .2+&,6$"+."&' #21"+1%"(("&' /$' .8*+4"0"+1' .(%0*1%6$"' >"1' /2+.'
/7*.."#1*1%2+'/"&'%+.")1%1$/"&@-'"1'&2$&'6$"(("&':2)0"&'."&'%+:2)0*1%2+&'&")2+1'("'#($&'9'0D0"'/"'#2$32%)'
D1)"'$1%(%&,"&A'
!
WI#XI+KK'!
!
a'S+1")3"+*+1&'+2+'"+.2)"'.2+1*.1,&'2$'.2+:%)0,&'
!
$6/75!!?@!/;B2=C32"
Y;ZZ*Y;WZ"
'/32R58432=2/4"
!Z;ZZ*!Z;UZ"
#6B234632!;>>5152<<2!Y!N-B$%/16"+)"%&''&()$"$/"4,/;&+$"+$"/5.0.1'"["\="
]^_#N``Na"$/"_="b_L`_`!"
";/>M32/128!7P;6B234632""
*"]1'.2"5.91+$"+$7"%&2%')71&27"+$7"L5&)9$7"+$"a5.0.1'"!"$/"U"+)"L>M#"7)5"'."()$7/1&2"
+$7"12%$5/1/)+$7"F.49'$)5"$/"4&+.'1/,7"+$"/5.1/$4$2/H"["c="AM"a^MPa"
!Z;UZ*!U;WZ""
*"A$7"+166,5$2/$7"12%$5/1/)+$7"S"-1'.2"+$"'."B&)52,$"+)"L>d*#'14./"7)5"'$7"
12%$5/1/)+$7"["d="eNPdd_PbM"
*"A:12%$5/1/)+$"%'14./1()$"$7/*$''$")2"95&-'@4$"+$"9&'1/1()$"9)-'1()$"G"["`="]f^>Na"
*"\.2&5.4."+$7"D"7$501%$7"%'14./1()$7"E"$2"g5.2%$"["^&-$5/"h_Pa_^Ii"$/"\;1'199$"
]NPLM_PAai"
*"F>2H%$5/1/)+$7"$/".+.9/./1&2".)"%;.2<$4$2/"%'14./1()$"["_="b_L`_`"
"""""[j"_214./1&2"9.5"\="]^_#N``Na"
!,5"$+")''
NP8YbCNc8bb''
JM9/12!:<M/5O32!?"["S+.")1%1$/"&'"1'.")1%1$/"&'
*"h.51.-1'1/,"$/"%;.2<$4$2/"%'14./1()$7"S"9&)5()&1"'$7".%/$)57"7:.995&951$2/"4.'"'$7"
%&2%')71&27"+)"L>M#"["\="]^_#N``Na"
*"F>2H%$5/1/)+$7"7)5"'$7"149.%/7"+)"%;.2<$4$2/"%'14./1()$"7)5"'$7"517()$7"%?/1$57"["
!X;ZZ*!k;ZZ"
h="IPh_a"
*"_)/5$"12/$50$2/1&28"$2"%&)57"+:1+$2/161%./1&2"
*"_)/5$"12/$50$2/1&28"$2"%&)57"+:1+$2/161%./1&2"
"""""[j"_214./1&2"9.5"c="l>MlM`"
'J*$&"'.*:,'
Nd8bbCNd8Yb'
,9C<2!3;/72!?"["A$7"12+)7/51$7"6.%$".)C"F12H%$5/1/)+$7"'
!k;WZ*!m;WZ""
b5"b_A_`I>`i"FLIg*d)$O"h.'$2%$H8"_^>_i8"c="l>MlM`8"U".)/5$7"12/$50$2.2/7"F$2"
%&)57"+:1+$2/161%./1&2H""
"""""[j"_214./1&2"9.5"_=*#="]^_d"
!
X"
M2.e1*%("
!n;ZZ*!Y;ZZ""
K9375!?A!/;B2=C32"
JM9/12!:<M/5O32!D"["B"&'/%::,)"+1"&'.2+."#1%2+&'/"'(7%+.")1%1$/"''
*"M")1%1$/"&'"1'%+.")1%1$/"&'/*+&'("&'/,0*).8"&'#)2&#".1%3"&"["d="a^MoM^"
*"B7%+.")1%1$/"'&"(2+'(7*.1"$)'#$;(%.'+*1%2+*('F'6$"(("&':2)0"&'/7%+.")1%1$/"'#)"+/)"'
"+'.20#1"-'"1'.200"+1'("&'.20;%+")'H"["d="bN`IN`"
Y;ZZ*!Z;XZ"
*"B7%+.")1%1$/"'&"(2+'(7*.1"$)'#$;(%.'(2.*('>:2)0"&'/7%+.")1%1$/"'9'#)"+/)"'"+'.20#1"-'
02/"&'/"'.20;%+*%&2+@"[">2/$50$2.2/"$2"%&)57"+:1+$2/161%./1&2"
*"B7%+.")1%1$/"'&"(2+'(7*.1"$)'#)%3,'>:2)0"&'/7%+.")1%1$/"'9'#)"+/)"'"+'.20#1"-'
02/"&'/"'.20;%+*%&2+@"["^$95,7$2/.2/"hMNA>_"M_P"
"""""[j"_214./1&2"F3"+,61215H"
J*$&"'.*:,'
Nb8cbCNN8bb'
,9C<2!3;/72!D"["J2(%1%6$"&'#$;(%6$"&'"
!!;ZZ*!U;WZ"
a="cP]M^a8"#="\c>AA>\d8"_="^N#cM8"L="IP]N>d8"!".)/5$"12/$50$2.2/"F$2"%&)57"
+:1+$2/161%./1&2H"
"""""[j"_214./1&2"9.5"_=*#="]^_d!
!,5"$+")'
NP8YbCNc8bb'
JM9/12!:<M/5O32!Q!["B"3")'("&';*))%<)"&'/"'(7%+.")1%1$/"'
*"A$7"95&4$77$7"$/"'$7"'141/$7"+)"D"7.27"5$<5$/"E8"3"/5.0$57"'$"%.7"+$"':$.)"$2"
b,+1/$55.2,$"[""d="d>bN`Ma"
!X;ZZ*!K;WZ"
*"A."01''$"6.%$"3"':12%$5/1/)+$"["#="\_#aM_Pi""
*"\5$2+5$"$2"%&49/$"':12%$5/1/)+$"+.27"'$7"95&B$/7"+$"+,0$'&99$4$2/"$/"
+:.+.9/./1&2".)"%;.2<$4$2/"%'14./1()$"["`="^Ndd>`"F_gIH"
*"_)/5$"12/$50$2/1&28"$2"%&)57"+:1+$2/161%./1&2"
"""""[j"_214./1&2"F3"+,61215H"
J*$&"'
NQ8YbCNd8bb'
,9C<2!3;/72!Q!["S+1,4)")'"1'.200$+%6$")'(7%+.")1%1$/"'/*+&'("&'&")3%."&'
.(%0*1%6$"&''
!k;ZZ*!m;WZ"
g="^PINAg8"c="ANPlNd8"\="]NPLM_Pai8"L="IP]N>d8"U".)/5$7"12/$50$2.2/7"F$2"%&)57"
+:1+$2/161%./1&2H"""
"""""[j"_214./1&2"9.5"_=*#="]^_d"
!m;WZ*!m;XK"
JZ/4NO82!24!1<[4632"
"
"
"2442!=9/5>284945;/!9639!<526!79/8!<28!<;196V!76!"HIJ!\!K267;/G!L39/12U!
!
#3R9/58942638!Y!
!!!!!!!!!!!!!!!!!!!!!!!!!W9819<2!*I+"#HH#,!Y!:9819<2UC391;//;4]<812U5:8<U>3!!
!!!!!!!!!!!!!!!!!!!!!!!!!+<2V9/732!K+XH+H!Y!9<2V9/732U=9R/9/]57735U;3R!
!
!
!
!
K"