BMW Magazine FR 2010 1 été by BMW Group Belux

BMWmagazine 1 2010 Ã&#x2030;DITION BELGIQUE - LUXEMBOURG

&63

4BMPO *OUFSOBUJPOBM EF MÑ³"VUPNPCJMF EF (FOÂ¨WF

8 0 6 5 # 36 ) P N N F Q SF T T Â© F U B N P V SF V Y E F M B W J F ' 3 * & ; & " 3 5 '" * 3 - F N B SD I Â© E F M Ñ³ B S U B Q SÂ¨ T M B D S J T F 50 , :0 & O B N P O U E F T O P V WF M M F T U F O E B O D F T

46#-*.&

-" /067&--& #.8 4Â&#x2030;3*& #&3-*/&

oyster perpetual milgauss in 904l steel MM

&%*50 -& %:/".*4.& 506+0634 1-64 &''*$"$&

"WFD VO TBMPO EF #SVYFMMFT USÂ¨T QPTJUJG MÑ³BO

1SÂ©TFOUÂ©F BV 4BMPO EF MÑ³"VUP EF (FOÂ¨WF MB TJYJÂ¨NF HÂ©OÂ©SBUJPO EF

OÂ©F B DPNNFODÂ© TPVT EF NFJMMFVST BVTQJDFT RVF MB QSÂ©DÂ©EFOUF $FU

MB #.8 4Â©SJF GBJU EÂ©KÂ MÑ³VOBOJNJUÂ© 4B DPOTPNNBUJPO FU TFT Â©NJT

JOUÂ©SÂªU QPVS OPT QSPEVJUT OPVT MF EFWPOT CJFO TÂ»S Â MB TPCSJÂ©UÂ© EF OPT

TJPOT VOF GPJT EF QMVT SFWVFT Â MB CBJTTF TPO EZOBNJTNF BDDSV TB

WPJUVSFT Â MFVS EZOBNJTNF TBOT DFTTF FO BNÂ©MJPSBUJPO NBJT BVTTJ Â MB

MJHOF è¶&#x2019; VJEF FU TPO DPOGPSU PQUJNBM GPOU EÑ³FMMF MB #FSMJOF MB QMVT BDUVFMMF

RVBMJUÂ© EF TFSWJDF EÂ©MJWSÂ©F QBS OPT DPODFTTJPOOBJSFT "VKPVSEÑ³IVJ WPUSF TBUJTGBDUJPO QBTTF BVTTJ QBS MF SFTQFDU EF MÑ³FOWJ SPOOFNFOU $F OÑ³FTU QBT VO IBTBSE TJ #.8 (SPVQ B Â©UÂ© EÂ©TJHOÂ© QPVS MB DJORVJÂ¨NF BOOÂ©F DPOTÂ©DVUJWF k .PTU TVTUBJOBCMF DBS NBOVGBDUV SFS PG UIF ZFBS { QBS MÑ³JOEFY %PX +POFT 4VTUBJOBCJMJUZ FO #.8

-" 4*9*Â&#x2C6;.& (Â&#x2030;/Â&#x2030;3"5*0/ %& -" #.8 4Â&#x2030;3*& '"*5 %Â&#x2030;+Â&#x20AC; -Ñ³6/"/*.*5Â&#x2030;

(SPVQ PCUJFOU Â DF KPVS MB NPZFOOF EÑ³Â©NJTTJPOT EF $0 MB QMVT GBJCMF EFT DPOTUSVDUFVST EV TFHNFOU EF QSFTUJHF FU GBJU NÂªNF NJFVY RVF DFSUBJOT DPOTUSVDUFVST HÂ©OÂ©SBMJTUFT "WFD VOF DPOTPNNBUJPO EF M LN FU EFT Â©NJTTJPOT EF

/PT NPUPT OF TPOU QBT FO SFTUF BWFD EFT Â©WPMVUJPOT BQQPSUÂ©FT BVY #.8 3 35 FU 3 (4 RVJ TFSPOU BQQSÂ©DJÂ©FT EFT USÂ¨T OPNCSFVY NPUBSET BEFQUFT EF WPZBHFT BV MPOH DPVST PV EÑ³FTDB

$0 EF TFVMFNFOU H QPVS VOF QVJTTBODF EF DW MB OPVWFMMF

QBEFT TVS MFT SPVUFT

#.8 E &Gè¶&#x2018; DJFOU%ZOBNJDT &EJUJPO DPOè¶&#x2018; SNF DFUUF UFOEBODF

"V OPN EF UPVT MFT DPMMBCPSBUFVST EF #.8 #FMVY FU EF TPO SÂ©TFBV EF DPODFTTJPOOBJSFT KÑ³BJNFSBJT WPVT SFNFSDJFS EF WPUSF è¶&#x2018; EÂ©MJUÂ© FU WPVT TPVIBJUFS CFBVDPVQ EF KPJF BV WPMBOU PV BV HVJEPO EF WPUSF #.8

1IJMJQQ WPO 4BIS 1IJMJQQ WPO 4BIS

1 I J M J Q Q W P O 4 B I S "ENJOJTUSBUFVS EÂ©MÂ©HVÂ© %JSFDUFVS HÂ©OÂ©SBM #.8 (SPVQ #FMVY

#.8.BHB[JOF

40.."*3&

/PVWFMMF JDÂ´OF &O SPVUF WFST MB CPEFHB *SJVT VO EPNBJOF WJUJDPMF VMUSB NPEFSOF EBOT MF OPSE EF MÑ³&TQBHOF Â CPSE EF MB TVCMJNF FU UPVUF OPVWFMMF #.8 4Â©SJF

8PVU #SV

-F DIFG Â©UPJMÂ© CFMHF OPVT QBSMF EF TB WJF FO 1SPWFODF EFT OPVWFBVY EÂ©GJT RVJ MÑ³BUUFOEFOU EF TB QBTTJPO QPVS MB WJF FU QPVS MÑ³BSU

#.8 . WFSTJPO FYUSÂªNF

-B OPVWFMMF #.8 . (54 SFTQJSF MB DPNQÂ©UJUJPO FU MB QBTTJPO

%FT MJHOFT QBSGBJUFT

"ESJBO WBO )PPZEPOL BOBMZTF MF EFTJHO EF MB OPVWFMMF #.8 4Â©SJF

'SJF[F "SU 'BJS Â -POESFT

1SJODJQBM GPSVN QPVS MFT BSUJTUFT RVJ NPOUFOU 'SJF[F "SU TÑ³FTU IJTTÂ© BV UPVU QSFNJFS SBOH EFT 4BMPOT EÑ³BSU

5PLZP

#.8.BHB[JOF

"GGMVY EÑ³JNQSFTTJPOT FU EF DPOUSBTUFT EBOT MF OPVWFBV QBSBEJT EFT EÂ©UFDUFVST EF UFOEBODFT

&Gê &#x2039; DJFOU%ZOBNJDT

%VFM FOUSF MB #.8 UE EF FU MB GMBNCBOU OFVWF #.8 E #FSMJOF

(SBOE WFOU

6OF OPVWFMMF TPVGGMFSJF IPST OPSNF QPVS EF OPVWFBVY HBJOT EÑ³Â©OFSHJF

4QFFE

-B CPÂ®UF BVUPNBUJRVF #.8 Â SBQQPSUT FTU VOF QSFNJÂ¨SF NPOEJBMF

-JUUÂ©SBUVSF

-Ñ³BVUFVS 5PN 7BOEFSCJMU FYQMJRVF QPVSRVPJ OPUSF DPNQPSUFNFOU BV WPMBOU OÑ³B SJFO EF MPHJRVF

3VCSJRVFT

#.8.BHB[JOF 5PVT MFT DPOEVDUFVST EÑ³VO WÂ©IJDVMF #.8 Ñ BVUPNPCJMJTUF FU NPUBSE Ñ OFVG

*OGP

PV EF TFDPOEF NBJO EPOU MB EVSÂ©F EF WJF FTU JOGÂ©SJFVSF Â BOT SFÂ§PJWFOU HSB

%FT OFXT EFT DPODFTTJPOT #.8 ] -FT BOT EF #.8 1SFNJVN 4FMFDUJPO ] -FT OPVWFBVUÂ©T #.8 BV 4BMPO BVUPNPCJMF EF (FOÂ¨WF ] #.8 "SU $BS QBS MÑ³BSUJTUF +FG ,PPOT FU FODPSF CJFO EÑ³BVUSFT JOGPT

UVJUFNFOU MF #.8 .BHB[JOF #.8 .BHB[JOF FTU VOF QVCMJDBUJPO TFNFT USJFMMF FU MF NBJMMPO FOUSF MFT QSPQSJÂ©UBJSFT #.8 FU #.8 #FMVY 4PO CVU FTU EÑ³JOGPSNFS MFT QSPQSJÂ©UBJSFT #.8 TVS MFT BDUJWJUÂ©T EF MB NBSRVF FU MB HBNNF EFT QSPEVJUT #.8 *OEJFO V EF /FEFSMBOETF FEJUJF WBO #.8 .BHB[JOF XFOTU UF POUWBOHFO HFMJFWF EBO IFU BESFTMBCFM UFSVH UF [FOEFO &EJUFVS SFTQPOTBCMF SÂ©HJF QVCMJDJUBJSF *OHF 7FSWMJFU #.8 #FMVY

.PUPSSBE

-PEEFSTUSBBU *OEVTUSJFQBSL Ñ¶%F 7MJFUÑ· #PSOFN

"V HVJEPO EÑ³VOF #.8 3 (4 "EWFOUVSF EBOT MÑ³0VUCBDL BVTUSBMJFO

#.8 1FSGPSNBODF B EÂ©WFMPQQÂ© EF OPVWFBVY BDDFTTPJSFT TQPSUJGT QPVS MFT #.8 4Â©SJF FU

.B #.8

-B #.8 ; FTU VOF WPJUVSF JOUFNQPSFMMF

#0;"3

%FVY FYQPTJUJPOT BUZQJRVFT FO QSPWFOBODF EÑ³&TQBHOF

5IJFSSZ 7BO #FFST #.8 #FMVY -PEEFSTUSBBU *OEVTUSJFQBSL Ñ¶%F 7MJFUÑ· #PSOFN

5FDIOP 5BML

3Â©EBDUJPO SÂ©BMJTBUJPO DPSSFTQPOEBODF )BOOFMPSF 4DIBMMJFS FU

3Â©EBDUJPO JOUFSOBUJPOBMF )PGGNBO VOE $BNQF 7FSMBH (NC) .Â¼ODIFO 3Â©EBDUJPO CFMHF 3PVMBSUB 1VCMJTIJOH .FJCPPNMBBO

3PFTFMBSF UFM 3Â©EBDUFVS FO DIFG ,VSU 'PDRVBFSU LVSU GPDRVBFSU!SPVMBSUB CF

(SBQIJTUF ,BBU ,FSLIPWF 3Â©EBDUFVST ,VSU 'PDRVBFSU 4UÂ©QIBOJF -BCJT %PNJOJRVF 7BO /JFVXFOIPWF $PMMBCPSBUFVST +PPTU $VTUFST %JSL 4DIPPGT "MFY 7BO EFO #FSHIF 1FUFS 7BO %ZDL $ISJTUPQIF 8FFSUT *NQSJNFSJF 3PVMBSUB 1SJOUJOH .FJCPPNMBBO 3PFTFMBSF UFM 1SPUFDUJPO EF MB WJF QSJWÂ©F $IBOHFNFOU EÑ³BESFTTF 7PT EPOOÂ©FT TPOU SFQSJTFT EBOT MF GJDIJFS EÑ³BESFTTFT EF #.8 #FMVY $VT

1BOPSBNB

+VNQJOH EÑ³"OWFST ] )PDLFZ ] #.8 (PMGTQPSU

"DUJWF -JGF

-B OPVWFMMF DPMMFDUJPO EF QSPEVJUT MJGFTUZMF .

4Â©DVSJUÂ©

-F DPOEVDUFVS EPJU EFNFVSFS BUUFOUJG NÂªNF FOUPVSÂ© EÑ³VO Â©RVJQFNFOU IJHI UFDI

UPNFS 4FSWJDFT -PEEFSTUSBBU Â #PSOFN UÂ©M $VTUPNFS 4FSWJDFT!CNX CF FO TB RVBMJUÂ© EF SFTQPOTBCMF EF USBJUFNFOU $FT EPOOÂ©FT QPVSSPOU ÂªUSF VUJMJTÂ©FT BGJO EF WPVT JOGPSNFS EF MÑ³Â©WPMVUJPO EF OPT TFSWJDFT BJOTJ RVF EFT OPVWFBVY QSPEVJUT &MMFT QPVSSPOU ÂªUSF DPNNV OJRVÂ©FT Â EFT TPDJÂ©UÂ©T MJÂ©FT Â #.8 #FMVY QPVS MFT NÂªNFT GJOBMJUÂ©T 7PVT EJTQPTF[ Â UPVU NPNFOU EÑ³VO ESPJU EÑ³BDDÂ¨T FU EF SFDUJGJDBUJPO EF WPT EPO OÂ©FT FU EV ESPJU EF WPVT PQQPTFS HSBUVJUFNFOU Â MFVS USBJUFNFOU FU Â MFVS DPNNVOJDBUJPO 7PVT USPVWFSF[ EF QMVT BNQMFT JOGPSNBUJPOT TVS MB DPOTPNNBUJPO FU MFT Â©NJTTJPOT EF $0 TVS XXX CNX CF FU XXX CNX MV $POTPNNBUJPO NPZFOOF M LN Â©NJTTJPO $0 H LN QPVS MB HBNNF #.8

#.8.BHB[JOF

/&84

PDOPDOFDTFT TJ FT JWPBOOT E #F . $ U P8 F L TPPNVTG UG M F O U M F V S T C P V H J F T

1FV EF UFNQT BQSÂ¨T MÑ³PVWFSUVSF EF TB UPVUF OPVWFMMF DPODFTTJPO FO MB DPODFTTJPO EF ,BMNUIPVU B GÂªUÂ© TPO F BOOJ WFSTBJSF $Ñ³FTU FO RVF .BSDFM .FFVTFO TÑ³FTU MBODÂ© EBOT MB WFOUF EF #.8 FU EFVY HÂ©OÂ©SBUJPOT QMVT UBSE MB DPODFTTJPO GBJU UPVKPVST QBSUJF EV è¶&#x2019; FVSPO CFMHF EFT DPODFTTJPOT #.8 BWFD MB WFOUF EF WPJUVSFT FO CBTF BOOVFMMF FU DPMMBCPSBUFVST XXX NFFVTFO CNX CF

.FFVTFO

-PVZFU

-B DPODFTTJPO B FMMF BVTTJ QBTTÂ© MF DBQ EFT BOT FU MFT EFVYJÂ¨NF FU USPJTJÂ¨NF HÂ©OÂ©SBUJPOT USBWBJMMFOU FOTFNCMF Â TPO TVD DÂ¨T &O FGGFU MB DPODFTTJPO B PVWFSU TFT QPSUFT Â $IBSMFSPJ FO FU BQSÂ¨T VO CSFG TÂ©KPVS Â .POT -Â©PO -PVZFU TÑ³FTU Â OPVWFBV JOTUBMMÂ© Â $IBSMFSPJ Â QBSUJS EF 1MVT EF DPMMBCPSBUFVST TF SFMBZFOU UBOU Â $IBSMFSPJ RVÑ³Â 4BNCSFWJMMF *MT WPVT PGGSFOU VO TFSWJDF EF RVBMJUÂ© RVF DF TPJU QPVS MÑ³BDIBU EÑ³VOF WPJUVSF MF TFSWJDF BQSÂ¨T WFOUF PV MÑ³FOUSFUJFO EF WPUSF #.8 XXX MPVZFU CNX CF

0NFS $PDRVZU

&O MBOÂ§BJU MB DPODFTTJPO Â©QPOZNF Â #SVHFT FU MÂ BVTTJ BQSÂ¨T BOT MB GBNJMMF $PDRVZU FO MB QFSTPOOF EF $MÂ©NFOUJOF $PDRVZU SFTUF MB GPSDF NPUSJDF EÑ³VOF FOUSFQSJTF è¶&#x2019; PSJTTBOUF 6OF EFT WBMFVST GPOEBNFOUBMFT EF MB DPODFTTJPO FTU FU SFTUF MÑ³PSJFOUB UJPO DMJFOU FU MÑ³Â©RVJQF FOUJÂ¨SF TÑ³JNQMJRVF RVPUJEJFOOFNFOU QPVS KVTUJè¶&#x2018; FS TPO TMPHBO k $PDRVZU PÂ¹ WPVT WPVT TFOUF[ DIF[ WPVT { XXX DPDRVZU CNX CF

-FT EFSOJÂ¨SFT OPSNFT BSDIJUFDUVSBMFT -B DPODFTTJPO %F 4DIFQQFS FTU MJÂ©F EFQVJT BOT FU EF NBOJÂ¨SF JOEÂ©GFDUJCMF Â MB NBSRVF #.8 EPOU QSFTRVF MB NPJUJÂ© TPVT MB EJSFDUJPO FOUIPVTJBTUF EF &SJD FU (SFFU %F 4DIFQQFS "QSÂ¨T MB DPOTUSVDUJPO EÑ³VO OPVWFBV HBSBHF DPNQBDU JM Z B WJOHU BOT MF UFNQT Â©UBJU WFOV EÑ³JOWFTUJS Â OPVWFBV BWFD GPSDF FU MF SÂ©TVM UBU FTU SFNBSRVBCMF -B TVQFSè¶&#x2018; DJF UPUBMF EF MB DPODFTTJPO FTU RVBTJNFOU EPVCMÂ©F FU MÑ³FOTFNCMF EF MÑ³JOGSBTUSVDUVSF B Â©UÂ© SÂ©OPWÂ© -F QSPKFU EF MB DPODFTTJPO SÂ©QPOE BVY UPVUFT EFSOJÂ¨SFT OPSNFT BSDIJUFDUVSBMFT EF MB NBSRVF #.8 BWFD FOUSF BVUSFT VOF SÂ©DFQUJPO Â MB WPJUVSF VOF SÂ©DFQ UJPO BNÂ©OBHÂ©F TQÂ©DJBMFNFOU Bè¶&#x2018; O EF QFSNFUUSF BV DMJFOU EF TÑ³BOOPODFS TBOT RVJUUFS TPO BVUP NPCJMF &WJEFNNFOU MF OPVWFBV TIPXSPPN FU MÑ³BUFMJFS TBUJTGPOU BVTTJ BVY EFSOJÂ¨SFT OPSNFT -F EÂ©QBSUFNFOU DBSSPTTFSJF B Â©UÂ© USBOTGÂ©SÂ© Â VO BVUSF FOESPJU %F 4DIFQQFS OW 1SJOT #PVEFXJKOMBBO 4JOU /JLMBBT 5Â©M JOGP!EFTDIFQQFS OFU CNX CF

#.8.BHB[JOF

. P EF S OJT BUJPO EF GPOE F O D PNCMF %Â©CVU TFQUFNCSF Â %JMTFO 4UPLLFN B FV MJFV MÑ³JOBVHVSBUJPO EF MB OPVWFMMF DPODFT TJPO #FDLFST BQSÂ¨T VOF SÂ©OPWBUJPO EF GPOE FO DPNCMF -FT CÂ¢UJNFOUT FYJTUBOUT EBUBOU EF POU EJTQBSV FU MBJTTÂ© QMBDF Â VOF UPVUF OPVWFMMF DPODFTTJPO VMUSB NPEFSOF *M Z B CJFO TÂ»S MF TIPXSPPN BNÂ©OBHÂ© TFMPO MFT EFSOJÂ¨SFT OPSNFT $PSQPSBUF *EFOUJUZ EF #.8 VO FTQBDF SÂ©TFSWÂ© BVY DMJFOUT EÂ©KÂ QSPQSJÂ©UBJSFT EÑ³VOF #.8 FU VO TBMPO SÂ©TFSWÂ© Â MB WFOUF PÂ¹ MB OPVWFMMF WPJUVSF QFVU ÂªUSF DPOè¶&#x2018; HVSÂ©F -B DPODFTTJPO PGGSF Â©HBMFNFOU Â TFT DMJFOUT MB QPTTJCJMJUÂ© EF QPVSTVJWSF MFVST BDUJWJUÂ©T QSPGFTTJPOOFMMFT QFOEBOU MÑ³FOUSFUJFO EF MFVS WÂ©IJDVMF 6OF TBMMF EF SÂ©VOJPO BOOFYÂ©F Â VO FTQBDF CVSFBV BWFD XJè¶&#x2018; FTU BJOTJ EJTQP OJCMF %PSUIZ $BSEFZOBFMT FU TPO Â©RVJQF WPVT TPVIBJUFOU EÂ¨T Â QSÂ©TFOU MB CJFOWFOVF 1FUFS #FDLFST .BBTMBOE CWCB 3JKLTXFH %JMTFO 4UPLLFN 5Â©M JOGP!CFDLFST OFU CNX CF XXX CFDLFST CNX CF

BOT #. 8 1SFNJVN 4FMFDUJPO -F MBCFM EF RVBMJUÂ© #.8 1SFNJVN 4FMFDUJPO QPVS MFT WPJUVSFT #.8 EÑ³PDDBTJPO B WV MF KPVS FO KVJO "WFD 1SFNJVN 4FMFDUJPO #.8 B DSÂ©Â© VO MBCFM PQUJNBM QPVS MFT WPJUVSFT EÑ³PDDBTJPO SFQPTBOU TVS EFT DSJUÂ¨SFT TUSJDUT -FT WPJUVSFT OF QFVWFOU FYDÂ©EFS DJOR BOT EÑ³Â¢HF VO LJMPNÂ©USBHF EF LN NBYJNVN FU MÑ³IJTUPSJRVF EFT FOUSFUJFOT EPJU ÂªUSF FOUJÂ¨SFNFOU DPOOV FU EPDVNFOUÂ© "QSÂ¨T VO DPOUSÂ´MF TÂ©WÂ¨SF TVS QBT NPJOT EF QPJOUT MB WPJUVSF FTU JOUÂ©HSÂ©F EBOT MF SÂ©TFBV -PST EF MB WFOUF NPJT EF HBSBOUJF BJOTJ RVÑ³VO TFSWJDF NPCJMJUÂ© TPOU PDUSPZÂ©T TVS MFT WPJUVSFT "VKPVSEÑ³IVJ PO

DFOUSFT #.8 1SFNJVN 4FMFDUJPO

DPNQUF

FO #FMHJRVF FU BV -VYFNCPVSH -Ñ³BO EFSOJFS WPJUVSFT #.8 1SFNJVN 4FMFDUJPO POU Â©UÂ© WFOEVFT QBS MFVS JOUFSNÂ©EJBJSF (SÂ¢DF BV SÂ©TFBV Â©UPGGÂ© EPOU JM EJTQPTF WPUSF DPODFTTJPOOBJSF #.8 WPVT BJEFSB Â USPVWFS MB WPJ UVSF RVF WPVT TPVIBJUF[ 7PVT QPVWF[ Â©HBMFNFOU FGGFDUVFS MB SFDIFSDIF EF WPUSF #.8 1SFNJVN 4FMFDUJPO FO MJHOF XXX CNX CF

/067&"6

$ F O U S F E Ñ³P D D B T J P O T # . 8 1 S F N J V N 4 F M F D U J P O % S J W F J O Â " S M P O "DUJWF EFQVJT CJFOUÂ´U BOT MB DPODFTTJPO 1IJMJQQF &NPOE B SÂ©DFNNFOU PVWFSU VO UPVU OPVWFBV DFOUSF EÑ³PDDBTJPOT #.8 1SFNJVN 4FMFDUJPO $F OPVWFBV CÂ¢UJNFOU BCSJUF DPOGPSNÂ©NFOU BVY OPSNFT BDUVFMMFT EF #.8 UPVU MF EÂ©QBSUFNFOU #.8 1SFNJVN 4FMFDUJPO %F QMVT WPVT QPVSSF[ NBJOUFOBOU DJSDVMFS EF I Â I TVS MF OPVWFBV %SJWF *O FYUÂ©SJFVS FU Z EÂ©DPVWSJS KVTRVÑ³Â WÂ©IJDVMFT FYQPTÂ©T -FT DPMMBCPSBUFVST EF MB DPODFTTJPO 1IJMJQQF &NPOE Z TPOU Â WPUSF TFSWJDF EV MVOEJ BV TBNFEJ 1IJMJQQF &NPOE T B 3PVUF EF #BTUPHOF "SMPO 5Â©M

JOGP!FNPOEBSMPO OFU CNX CF XXX FNPOE CNX CF #.8.BHB[JOF

4 B M P O J OUF S O BUJ P O B M E F M Ñ³B V UP N P C J M F . B S T

T #.8 NPEÂ¨MF NPJOT Â©NFUUFOU EF

LN H $0

#.8 E &Gè¶&#x2018; DJFOU%ZOBNJDT &EJUJPO DI FU M LN

/PVWFBVUÂ©T #.8 9 T%SJWF J FU #.8 9 Y%SJWF J #.8 E H EF $0 LN

#.8 $PODFQU 4Â©SJF "DUJWF)ZCSJE 1SFNJFS NPEÂ¨MF GVMM IZCSJE #.8 EF DBUÂ©HPSJF NPZFOOF TVQÂ©SJFVSF MB #.8 $PODFQU 4Â©SJF "DUJWF)ZCSJE EPUÂ©F EÑ³VO TJY DZMJOESFT FTTFODF BWFD UFDIOPMPHJF 5XJO1PXFS 5VSCP EÑ³VOF CPÂ®UF EF WJUFTTFT BVUPNBUJRVF Â SBQQPSUT FU EÑ³VO NPUFVS Â©MFDUSJRVF EF L8 Â©UBCMJU EF OPVWFMMFT SÂ©GÂ©SFODFT FO UFSNFT EF EZOBNJTNF EF DPOTPNNBUJPO FU EÑ³Â©NJTTJPOT %BOT MF DBESF EF MB TUSBUÂ©HJF k #FTU PG )ZCSJE { DF DPODFQU DBS CÂ©OÂ©GJDJF EF UFDIOPMPHJFT IZCSJEFT EF OPVWFMMF HÂ©OÂ©SBUJPO "TTPDJÂ© BV TJY DZMJOESFT MF NPUFVS Â©MFDUSJRVF HBSBOUJU FO UPVUFT DJSDPOTUBODFT VO DPVQMF QBSUJDVMJÂ¨SFNFOU EZOB NJRVF QPVS VOF FGGJDJFODF NBYJNBMF 7Â©SJUBCMF NPEÂ¨MF GVMM IZCSJE MB #.8 $PODFQU 4Â©SJF "DUJWF)ZCSJE QFVU Â©HBMFNFOU GPODUJPOOFS FO NPEF UPVU Â©MFDUSJRVF DF RVJ TJHOJGJF [Â©SP Â©NJTTJPO

#.8 $PODFQU "DUJWF& %BOT MÑ³PQUJRVF EÑ³VOF NPCJMJUÂ© EVSBCMF TBOT Â©NJTTJPOT EF $0 #.8 QSÂ©TFOUF MB #.8 $PODFQU "DUJWF& $F NPEÂ¨MF UPVU Â©MFDUSJRVF JOOPWBOU FU UPUBMFNFOU BQUF Â MÑ³VUJMJTBUJPO RVP UJEJFOOF FTU CBTÂ© TVS MB #.8 4Â©SJF $PVQÂ© 4PO NPUFVS Â©MFDUSJRVF EÂ©MJWSBOU DI L8 FU VO DPVQMF EF /N HBSBOUJU MF EZOB NJTNF UZQJRVF EF MB NBSRVF *M QSPQVMTF MF DPVQÂ© EF Â LN I FO NPJOT EF TFDPOEFT %FT CBUUFSJFT MJUIJVN JPO EF DPODFQUJPO OPVWFMMF QFSNFUUFOU EÑ³BUUFJOESF VOF BVUPOPNJF EÑ³FOW LN FO VUJMJTBUJPO RVPUJEJFOOF %F QMVT MFVS JOUÂ©HSBUJPO JOUFMMJHFOUF BV TFJO EV WÂ©IJDVMF QFSNFU EF DPOTFSWFS RVBUSF WSBJFT QMBDFT FU VO DPGGSF Â CBHBHFT EÑ³VOF DBQBDJUÂ© EÑ³FOW MJUSFT

4 B M P O J OUF S O BUJ P O B M E F M Ñ³B V UP N P C J M F . B S T

#.8 9 Y%SJWF E /N EF DPVQMF M LN

/PVWFBVUÂ© #.8 E 5PVSJOH DI M LN

#.8 4Â©SJF $BCSJP FU $PVQÂ© #FTU TFMMFST EF MFVST TFHNFOUT SFTQFDUJGT DFT EFVY NPEÂ¨MFT POU CÂ©OÂ©GJDJÂ© EÑ³VO EJTDSFU SFTUZMBHF FU QSPQPTFOU EF OPVWFBVY NPUFVST PQUJNJTÂ©T FO NBUJÂ¨SF EÑ³FGGJDJFODF -F MPPL TQPSUJG EFT #.8 4Â©SJF $BCSJP FU $PVQÂ© FTU BDDFOUVÂ© QBS VOF NJTF FO WBMFVS FODPSF QMVT QSPOPODÂ©F EF MB MBSHFVS EF WPJF -F OPV WFBV EFTJHO EÑ³Â©DMBJSBHF BWFD Â©MÂ©NFOUT Â %&- PQUJPOOFMT FTU QBSUJ DVMJÂ¨SFNFOU UZQÂ© Â&#x20AC; MÑ³BWBOU PO SFNBSRVF MB OPVWFMMF CBOEF MVNJ OFVTF TVSQMPNCBOU MFT QSPKFDUFVST SPOET -FT DPOEVJUT MVNJOFVY Â %&- NPOPCMPDT JOUÂ©HSÂ©T BVY CMPDT PQUJRVFT BSSJÂ¨SF QSPEVJTFOU VO FGGFU TQFDUBDVMBJSF SBQQFMBOU EF MÑ³BDJFS FO GVTJPO XXX CNX CF XXX CNX MV

#.8 ; T%SJWF JT #.8 QSÂ©TFOUF BWFD MB ; T%SJWF JT MF OPV WFBV NPEÂ¨MF QIBSF EV TFHNFOU EFT SPBETUFST 4PO NPUFVS 5XJO 5VSCP BWFD JOKFDUJPO EJSFDUF IBVUF QSÂ©DJTJPO )1* NPCJMJTF VOF QVJT TBODF NBYJNBMF EF DI L8 FU EÂ©MJWSF /N EF DPVQMF &O DPNCJOBJTPO BWFD MB CPÂ®UF EF WJUFTTFT BVUPNBUJRVF 4QPSU SBQ QPSUT Â EPVCMF FNCSBZBHF DF SPBETUFS BDDÂ©MÂ¨SF EF Â LN I FO TFDPOEFT 4PO EZOBNJTNF IPST QBJS OF MÑ³FNQÂªDIF QBT HSÂ¢DF Â EJWFSTFT UFDIOPMPHJFT #.8 &GGJDJFOU%ZOBNJDT EF NBJOUFOJS MB DPOTPNNBUJPO M LN FU MFT Â©NJTTJPOT EF $0 H Â VO OJWFBV USÂ¨T NPEÂ©SÂ© FO DZDMF EÑ³FTTBJ FVSPQÂ©FO XXX CNX CF [ XXX CNX MV [

#.8 9 -B #.8 9 BMMJF EZOBNJTNF FU FGGJDJFODF DPNNF BVDVOF BVUSF BVUPNPCJMF EF DF HBCBSJU %F OPVWFBVY NPUFVST FU MÑ³JOOPWBOUF CPÂ®UF EF WJUFTTFT BVUPNBUJRVF Â SBQQPSUT DPOUJOVFOU EÑ³PQUJNJTFS DFUUF DPNCJOBJTPO -FT EFVY NPEÂ¨MFT EJFTFM DPOTPNNFOU KVTRVÑ³Â EF NPJOT UBOEJT RVF MFT WFSTJPOT FTTFODF EÂ©MJWSFOU VO DPVQMF QBSGPJT BVHNFOUÂ© EF QBS SBQQPSU Â MFVST EFWBODJÂ¨SFT %F EJTDSÂ¨UFT NPEJGJDBUJPOT BV OJWFBV EFT QBSF DIPDT TPVMJHOFOU MB TQPSUJWJUÂ© FU MF MVYF TPVWFSBJO EF MB OPVWFMMF #.8 9 -FT DMJFOUT JOUÂ©SFTTÂ©T QFVWFOU Â©HBMFNFOU TÑ³PGGSJS MÑ³"DUJWF $SVJTF $POUSPM BWFD GPODUJPO 4UPQ (P EJTQPOJCMF FO PQUJPO XXX CNX CF Y XXX CNX MV Y

-FT EFSOJÂ¨SFT OPVWFMMFT EF #.8 FO CSFG -FT #.8 J $PVQÂ© FU $BCSJP TPOU EÂ¨T NBJOUFOBOU Â©RVJQÂ©FT EF TJY DZMJOESFT FO MJHOF EF OPVWFMMF HÂ©OÂ©SBUJPO

-B #.8 4Â©SJF EJTQPTF EFT OPVWFMMFT GPODUJPOT EF EJWFSUJTTFNFOU EF #.8 $POOFDUFE%SJWF

1PVS MB QSFNJÂ¨SF GPJT MB .0503*4"5*0/ %& 10*/5& DPNCJOF MB UFDIOPMPHJF #.8 5XJO1PXFS 5VSCP MÑ³JOKFDUJPO EJSFDUF IBVUF QSÂ©DJTJPO )1* FU MB DPNNBOEF FOUJÂ¨SFNFOU WBSJBCMF EFT TPVQBQFT 7BMWFUSPOJD -FT EFVY NPEÂ¨MFT EÂ©WFMPQQFOU DI L8 -FT WBMFVST EF DPOTPNNBUJPO TPOU VOJRVFT EBOT DFUUF DBUÂ©HPSJF EF QVJTTBODF M LN $PVQÂ© FU M LN $BCSJP

#JFOUÂ´U MF MFDUFVS BVEJP EÑ³VO TNBSUQIPOF FYUFSOF QPVSSB MVJ BVTTJ ÂªUSF JOUÂ©HSÂ© BV TZTUÂ¨NF EF EJWFSUJTTF NFOU EV WÂ©IJDVMF WJB MÑ³*/5&3'"$& #-6&5005) -F DMPV QPVS MB QSFNJÂ¨SF GPJT EBOT VOF BVUPNPCJMF MFT QPDIFUUFT EÑ³BMCVNT BGGFDUÂ©FT BVY EJGGÂ©SFOUT NPSDFBVY TUPDLÂ©T EBOT MB CJCMJPUIÂ¨RVF NVTJDBMF TÑ³BGè¶&#x2018; DIFSPOU TVS MÑ³Â©DSBO EF DPOUSÂ´MF

XXX CNX CF XXX CNX MV

1PVSTVJUF EF MB TUSBUÂ©HJF EF EÂ©WFMPQQF NFOU Â TVDDÂ¨T #.8 &Gê&#x2014;&#x2026; DJFOU%ZOBNJDT -F OPNCSF EF NPEÂ¨MFT #.8 TBUJTGBJTBOU Â MB OPSNF BOUJQPMMVUJPO &6 TÑ³Â©MÂ¨WFSB Â BV QSJOUFNQT 4JY NPEÂ¨MFT #.8 Â©RVJQÂ©T EF MB 5&$)/0-0(*& #.8 #-6& 1&3'03."/$& PQUJPOOFMMF SÂ©QPO EFOU EÑ³PSFT FU EÂ©KÂ BVY FYJHFODFT EF MB OPSNF &6 RVJ FOUSFSB FO WJHVFVS FO #.8 E #FSMJOF FU 5PVSJOH #.8 E #FSMJOF #.8 E #FSMJOF #.8 E FU #.8 -E XXX CNX CF FGê &#x2039; DJFOUEZOBNJDT XXX CNX MV FGê &#x2039; DJFOUEZOBNJDT

/&84 ,PPOT $BS "S U $BS -Ñ³BSUJTUF BNÂ©SJDBJO +FGG ,00/4 TVS MB QIPUP TPO DÂ©MÂ¨CSF Ñ²#BMMPPO %PHÑ³ MPST EÑ³VOF FYQPTJUJPO MÑ³BO EFSOJFS BV DIÂ¢UFBV EF 7FSTBJMMFT B Â©UÂ© TÂ©MFDUJPOOÂ© QPVS MB SÂ©BMJTBUJPO EF MB F #.8 "SU $BS %FQVJT MB NBSRVF CBWBSPJTF JOWJUF SÂ©HVMJÂ¨SFNFOU VO BSUJTUF EF SFOPN Â DPODFWPJS VOF Ã½VWSF EÑ³BSU BV EÂ©QBSU EÑ³VOF EF TFT WPJUVSFT /VM OF TBJU QPVS MÑ³JOTUBOU Â RVPJ SFTTFNCMFSB DFMMF EF ,PPOT -Ñ³BSUJTUF B DBSUF CMBODIF XXX CNXHSPVQ DPN LVMUVS XXX KFGGLPPOT DPN

M N J M M J P O T E Ñ³F V S P T $Ñ³FTU MB TPNNF RVF #.8 (SPVQ FU TPO QBSUFOBJSF DIJOPJT MF DPOTUSVDUFVS BVUPNP CJMF #SJMMJBODF WPOU JOWFTUJS EBOT MB DPOTUSVDUJPO EÑ³VOF EFVYJÂ¨NF VTJOF Â 4IFOZBOH /PSE EF MB $IJOF Bè¶&#x2018; O EF EPVCMFS MB DBQBDJUÂ© EF QSPEVDUJPO QPVS QBTTFS Â BVUPT QBS BO &O #.8 (SPVQ B BVHNFOUÂ© TPO DIJGGSF EÑ³BGGBJSFT EÑ³FOWJSPO FO $IJOF FOSFHJTUSBOU VO OPVWFBV SFDPSE BWFD WÂ©IJDVMFT WFOEVT

5FMMF FTU MB DPOTPNNBUJPO NPZFOOF M LN EF MB è¶&#x2019; PUUF #.8 "VUSFNFOU EJU VOF Â©NJTTJPO NPZFOOF EF HSBNNFT EF $0 QBS LJMPNÂ¨USF "WFD EF UFMT DIJGGSFT #.8 GBJU OFUUFNFOU NJFVY RVF TFT DPODVSSFOUT FU B Â©UÂ© EÂ©DMBSÂ© QPVS MB DJO RVJÂ¨NF GPJT DPOTÂ©DVUJWF DPOTUSVDUFVS BVUPNP CJMF MF QMVT EVSBCMF BV NPOEF QBS MF QSFTUJHJFVY JOEJDF %PX +POFT EV EÂ©WFMPQQFNFOU EVSBCMF -FT Â©NJTTJPOT EFT #.8 WFOEVFT FO &VSPQF FOUSF FU POU Â©UÂ© SÂ©EVJUFT EF QMVT EF %Ñ³JDJ FMMFT EFWSBJFOU FODPSF EJNJ OVFS EÑ³BV NPJOT

# . 8 0 3 " $ - & 3 " $ * / ( H B H O F M B F $ P V Q F E F M Ñ³" N F S J D B -Ñ³Â©RVJQBHF #.8 0SBDMF 3BDJOH B EÂ©USÂ´OÂ© MF 4VJTTF "MJOHIJ UFOBOU EV UJUSF FU SFNQPSUÂ© MB F $PVQF EF MÑ³"NFSJDB BWFD TPO TQFDUBDVMBJSF USJNBSBO -PST EF MB EFVYJÂ¨NF NBODIF EF MB QMVT BODJFOOF SÂ©HBUF Â MB WPJMF EV NPOEF Â 7BMFODF 64" MF CBUFBV GVUVSJTUF EF NÂ¨USFT EF IBVU EV DIBMMFOHFS #.8 0SBDMF 3BDJOH TÑ³FTU JNQPTÂ© GBDF BV DBUBNBSBO "MJOHIJ FU B SFNQPSUÂ© BJOTJ VOF EFVYJÂ¨NF WJDUPJSF EÂ©DJ TJWF %JTQVUÂ© FO NPEF Ñ²CFTU PG UISFFÑ³ MF EVFM TÑ³FTU BDIFWÂ© TVS MF TDPSF EF QPVS MÑ³Â©RVJQBHF BNÂ©SJDBJO EV QSPQSJÂ©UBJSF -BSSZ &MMJTPO -B DPVSTF Ñ²%FFE PG (JGUÑ³ PQQPTBJU VOJRVFNFOU MF UFOBOU EV UJUSF FU MF DIBMMFOHFS XXX CNXPSBDMFSBDJOH DPN

#.8.BHB[JOF

B. V. B. A. KÃ¼ppersbusch S. P. R. L. Z. 3 Doornveld 121, B-1731 Zellik Tel.: (02) 466 87 40, Fax: (02) 466 76 87 www.kuppersbusch.be

8PVU #SV EBOT VO Â©MBO QIJMPTPQIJRVF k +F OF QFVY RVÑ³FODPVSBHFS MFT QBSFOUT Â FOWPZFS MFVST FOGBOUT Â MÑ³Â©USBOHFS $FMB MFVS PVWSF EF QMVT MBSHFT QFSTQFDUJWFT TVS MB WJF {

#.8.BHB[JOF

10353"*5

8065 #36 )0..& 13&44Â&#x2030;

&5 ".063&69 %& -" 7*& -F DIFG Â©UPJMÂ© 8PVU #SV OPVT SFÂ§PJU EBOT TPO MPGU BOWFSTPJT FU Â©WPRVF MF SFHBSE CSJMMBOU TB WJF Â &ZHBMJÂ¨SFT WJMMBHF QSPWFOÂ§BM RVÑ³JM B GBJU DPOOBÂ®USF HSÂ¢DF Â TPO SFTUBVSBOU k -F CMFV EV DJFM DÑ³FTU RVF EV CPOIFVS { 5FYUF 1 & 5 & 3 7 " / % : $ , 1IPUPT 5 ) 0 . " 4 % & # 0 & 7 & 3

"QSÂ¨T EFT EÂ©CVUT NPEFTUFT BWFD Ñ²-F #JTUSPU EÑ³&ZHBMJÂ¨SFTÑ³ JM Z B VOF RVJO[BJOF EÑ³BOOÂ©FT 8PVU #SV EJTQPTF BVKPVSEÑ³IVJ EÑ³VO QFUJU CPVU EF UFSSF RVJ BDDVFJMMF TPO SFTUBVSBOUÒ&#x20AC; FU VO IÂÚFM k &O QMFJOF TBJTPO MFT SVFT EV WJMMBHF EÑ³&ZHB MJÂ¨SFT TPOU MF UIÂ©Â¢USF EF DPVSTFT EF UBVSFBVY $FMB OPVT PCMJHFBJU Â GFSNFS QFOEBOU BV NPJOT DJOR KPVST &O PVUSF DFSUBJOT DMJFOUT USPVWBJFOU RVF DFUUF NBOJGFTUBUJPO OF DPSSFTQPOEBJU QBT BV TUBOEJOH EF OPUSF SFTUBVSBOU -PSTRVF OPVT BWPOT USPVWÂ© DF EPNBJOF EF USPJT IFDUBSFT FO EFIPST EV DFOUSF OPVT Z BWPOT WV VOF DIBODF VOJRVF EF OPVT Â©MPJ HOFS EF MÑ³BHJUBUJPO FU EF SÂ©BMJTFS OPUSF SÂªWF UFOJS VO IÂÚFM /PUSF OPVWFM Â©UBCMJTTFNFOU TF TJUVF Â USPJT LJMPNÂÜSFT EF OPUSF QSFNJFS SFTUBVSBOU RVJ B Â©UÂ© USBOTGPSNÂ© FO CSBTTFSJF { 8PVU #SV FTU VO IPNNF RVJ BJNF TF MBODFS DPOTUBNNFOU EF OPVWFBVY EÂ©GJT $FMB FYQMJRVF QPVSRVPJ JM B Â©HBMFNFOU PVWFSU VOF CPVUJRVF DPOTB DSÂ©F BVY WJOT FU BVY PMJWFT NBJT BVTTJ DPNNFOU JM FTU EFWFOV DPOTVMUBOU QPVS 6OJMFWFS GPVSOJTTFVS EF QMBUT QSÂ©QBSÂ©T QPVS %FMIBJ[F DPOGÂ©SFODJFS FU DPMMBCPSBUFVS EÑ³VOF Â©NJTTJPO UÂ©MÂ©WJTÂ©F k +F DPOTJ EÂ¨SF UPVUFT DFT BDUJWJUÂ©T DPOOFYFT DPNNF EFT BDUJWJUÂ©T EF SFMBUJPOT QVCMJRVFT { OPVT FYQMJRVF U JM k $Ñ³FTU EÑ³VOF JNQPSUBODF DSVDJBMF -FT HFOT EPJWFOU DPOUJOVFS EF WFOJS FO 1SPWFODF 4J WPVT OF GBJUFT QBT QBSMFS EF WPVT MB DMJFOUÂ¨MF TF SBSÂ©GJF (SÂ¢DF Â *OUFSOFU MFT HFOT POU MF DIPJY FOUSF UFMMF NFOU EF QPTTJCJMJUÂ©T 4J WPVT OF TPSUF[ QBT EV MPU WPVT QPVWF[ GBJSF VOF DSPJY TVS WPUSF BDUJWJUÂ© %V SFTUF TF DPOUFOUFS EF HÂ©SFS VO SFTUBVSBOU EFWJFO ESBJU WJUF FOOVZFVY {

$Ñ³FTU BJOTJ RVÑ³FO DPNQBHOJF EÑ³BVUSFT HSBOET DIFGT DPNNF 1FUFS (PPTTFOT FU 7JLJ (FVOFT JM B DPOUSJCVÂ© Â MÑ³PVWSBHF Ñ²-FT FTTFOUJFMTÑ³ QVCMJÂ© QBS 6OJMFWFS *M Z NFU MÑ³BDDFOU TVS EF OPVWFBVY NPEFT

k +& $0/4*%Â&#x2C6;3& .&4 "$5*7*5Â&#x2030;4 $0//&9&4 $0..& %&4 "$5*7*5Â&#x2030;4 %& 3&-"5*0/4 16#-*26&4 4& $0/5&/5&3 %& (Â&#x2030;3&3 6/ 3&45"63"/5 %&7*&/%3"*5 7*5& &//6:&69 { EF DVJTTPO BVYRVFMT JM DSPJU DPNNF MB DVJTTPO Â CBTTF UFNQÂ©SBUVSF PÂ¹ MB WJBOEF FTU EÑ³BCPSE QMBDÂ©F TPVT WJEF BWBOU EF DVJSF MFOUFNFOU k -B RVBMJUÂ© EF MB WJBOEF TÑ³FO USPVWF TQFDUBDVMBJSFNFOU BNÂ©MJPSÂ©F 5PVT MFT OFSGT FU MFT NVTDMFT GPOEFOU DF RVJ SFOE MB WJBOEF QMVT UFOESF $FMB OPVT QFSNFU EPOD Â©HBMF NFOU EF NBOHFS MFT QBSUJFT NPJOT OPCMFT { #SV FTU VO OPN QMVUÂ´U SBSF FO #FMHJRVF OÂ©FSMBO EPQIPOF 4PO BSCSF HÂ©OÂ©BMPHJRVF SÂ©WÂ¨MF RVF TFT HSBOET QBSFOUT Â©UBJFOU PSJHJOBJSFT EÑ³&TQBHOF $Ñ³FTU QFVU ÂªUSF MB SBJTPO QPVS MBRVFMMF JM TF TFOU TJ CJFO TPVT MF TPMFJM EF 1SPWFODF k -F CMFV PNOJQSÂ©TFOU EV DJFM EPOOF MF TFOUJNFOU EÑ³ÂªUSF FO WBDBODFT NÂªNF TJ MÑ³PO USBWBJMMF EVS *M GBJU USPQ HSJT FO #FMHJRVF -F DJFM Z FTU PQQSFTTBOU &O 1SPWFODF PO KPVJU EF MÑ³FTQBDF FU EF MB MVNJÂ¨SF { &O SFWBODIF MÑ³BTQFDU OPODIBMBOU EF MB NFOUB MJUÂ© NÂ©SJEJPOBMF MVJ QPTF EBWBOUBHF EF EJGGJDVMUÂ©T k 1FSTPOOFMMFNFOU KÑ³BJNF RVF MÑ³PO SFTQFDUF TFT FO #.8.BHB[JOF

k +Ñ³"* 6/ #0/ $0/5"$5 "7&$ 30% 45&8"35 &5 "-"*/ 13045 *-4 3&45&/5 /"563&-4 26"/% *-4 7*&//&/5 %"/4 .0/ 3&45"63"/5 { HBHFNFOUT 1BS DPOUSF MFT 'SBOÂ§BJT EV 4VE QFOTFOU RVF UPVU QFVU UPVKPVST TÑ³BSSBOHFS "V EÂ©CVU KÑ³BWBJT DIPJTJ FYQSFTTÂ©NFOU EF USBWBJMMFS BWFD EFT BHSJDVM UFVST MPDBVY $VJTJOFS EFT MÂ©HVNFT QSPWFOBOU UPVU ESPJU EV UFSSPJS DFMB NF QBSBJTTBJU JEÂ©BM $Ñ³FTU BJOTJ RVF KÑ³BJ EFNBOEÂ© RVF MÑ³PO NF MJWSF DIBRVF KPVS USPJT DBJTTFT EF UPNBUFT $FMB TÑ³FTU CJFO QBTTÂ© QFOEBOU USPJT TFNBJOFT FU QVJT TPVEBJOFNFOU MFT MJWSBJ TPOT TF TPOU BSSÂªUÂ©FT *M TÑ³FTU BWÂ©SÂ© RVF MF QBZTBO QSÂ©GÂ©SBJU BMMFS KPVFS BVY CPVMFT BV WJMMBHF Ñ²4J MFT UP NBUFT OF TPOU QBT NÂ»SFT FMMFT OF TPOU QBT NÂ»SFTÑ³ NÑ³B U JM EJU TVS VO UPO MBDPOJRVF &U OPO JM OÑ³BWBJU QBT KVHÂ© VUJMF EF NÑ³FO BWFSUJS &U PVJ TJ KÑ³FO BWBJT FOWJF KF QPVWBJT BMMFS MFT DVFJMMJS NPJ NÂªNF { -PSTRVÑ³VO BO FU EFNJ QMVT UBSE DF KFVOF #FMHF B EÂ©DSPDIÂ© TB QSFNJÂ¨SF Â©UPJMF BV .JDIFMJO QPVS -F #JTUSPU EÑ³&ZHBMJÂ¨SFT DFMB B TVTDJUÂ© EFT KBMPVTJFT &O PVUSF MF GBJU RVF #SV EÂ©DJEF EÑ³Â©MBSHJS MF DIBNQ EF TFT BDUJWJUÂ©T FU RVF MF TVDDÂ¨T EV SFTUBVSBOU HÂ©OÂ¨SF VO QFV EF EÂ©SBOHFNFOU B QSPWPRVÂ© VOF MFWÂ©F EF CPV DMJFST EF MB QBSU EFT BODJFOT EV WJMMBHF k -F TFOUJNFOU EF OF QBT ÂªUSF BDDFQUÂ© FTU EPVMPVSFVY { TF TPVWJFOU MF DIFG k .BJT KÑ³Â©UBJT CJFO DPOTDJFOU RVÑ³PO OF QFVU QBT QMBJSF Â UPVU MF NPOEF FU KÑ³BJ QSÂ©GÂ©SÂ© NÑ³FO SÂ©GÂ©SFS Â NB DMJFOUÂ¨MF RVJ USPVWBJU RVF KF GBJTBJT EV CPO CPVMPU -PSTRVF KÑ³BJ PCUFOV NB EFVYJÂ¨NF Â©UPJMF MFT OPUBCMFT EF MB SÂ©HJPO FU NÂªNF MF 1SFNJFS NJOJTUSF EÑ³BMPST -JP OFM +PTQJO POU WPVMV WFOJS NBOHFS DIF[ NPJ { 5PVU MF NPOEF TÑ³FTU NPOUSÂ© QMVT DPODJMJBOU "VKPVSEÑ³IVJ MFT WJMMBHFPJT TPOU GJFST EF QPTTÂ© EFS MF NFJMMFVS SFTUBVSBOU EF MB SÂ©HJPO &U MFT TUBST RVJ GPVMFOU TPO TPM TPOU UPVKPVST MFT CJFOWFOVFT k $FSUBJOFT EF DFT QFSTPOOBMJUÂ©T SFWJFOOFOU SÂ©HVMJÂ¨ SFNFOU +Ñ³BJ QBS FYFNQMF VO USÂ¨T CPO DPOUBDU BWFD "MBJO 1SPTU FU 3PE 4UFXBSU *MT SFTUFOU OBUVSFMT RVBOE

JMT WJFOOFOU EBOT NPO SFTUBVSBOU %Ñ³BVUSFT DPNNF $IBSMFT "[OBWPVS PV MÑ³BDUFVS $ISJTUJBO $MBWJFS BJNFOU UFOJS MB WFEFUUF 4Ñ³JMT OF NPOPQPMJTFOU QBT MÑ³BU UFOUJPO JMT TÑ³FOOVJFOU FU OF SFTUFOU QBT MPOHUFNQT { 8PVU #SV FTU VO QVS FTUIÂÜF *M BJNF TÑ³FOUPVSFS EF CFMMFT DIPTFT *M QPTTÂËF RVFMRVFT UBCMFBVY FU VOF TDVMQUVSF EF (Â©SBSE %SPVJMMFU VO BSUJTUF EF TPO WJMMBHF EÑ³&ZHBMJÂ¨SFT .BJT MÑ³BSUJTUF RVÑ³JM BENJSF MF QMVT FTU 1BOBNBSFOLP 4POHF U JM Â SFWFOJS FO #FMHJRVF k 7JWSF FO #FMHJRVF EF GBÂ§PO QFSNBOFOUF DF OÑ³FTU QBT QPVS EFNBJO .BJT BUUFOUJPO KF SFWJFOT TPVWFOU EBOT NPO QBZT $Ñ³FTU BHSÂ©BCMF EF SFWPJS TFT BNJT NBJT KF TVJT UPVKPVST IFVSFVY EF SFOUSFS DIF[ NPJ Â &ZHBMJÂ¨SFT { -Ñ³JSPOJF EF MB TJUVBUJPO DÑ³FTU RVF TÑ³JM WJU BVKPVSEÑ³IVJ FO 'SBODF DÑ³FTU QBSDF RVF QFOEBOU TFT IVNBOJUÂ©T TQPSUJWFT JM BWBJU Â©UÂ© SFDBMÂ© FO GSBOÂ§BJT k .PO QÂ¨SF NÑ³B BMPST FOWPZÂ© EBOT VOF Â©DPMF IÂÚFMJÂ¨SF +F NÑ³FO TPVWJFOT DPNNF TJ DÑ³Â©UBJU IJFS *M NÑ³B NPOUSÂ© MB QIPUP EÑ³VO DVJTJOJFS BWFD TPO QBOUBMPO Â DBSSFBVY FU TB DIFNJTF CMBODIF MF SPVHF BVY KPVFT SBZPOOBOU EF CPOIFVS BWFD VOF DVJMMÂ¨SF FO CPJT Â MB NBJO " QSJPSJ KF OF DPNQSFOBJT QBT PÂ¹ NPO QÂ¨SF WPVMBJU FO WFOJS .BJT KF OÑ³BJ QBT UBSEÂ© Â NF SFOESF DPNQUF RVF DFT Â©UVEFT Â©UBJFOU GBJUFT QPVS NPJ -PSTRVF KÑ³BJ QV QBSUJS FO TUBHF Â MÑ³Â©USBOHFS KÑ³BJ DIPJTJ MB #SFUBHOF QPVS BNÂ© MJPSFS NPO GSBOÂ§BJT +Ñ³FO BJ WV EF UPVUFT MFT DPVMFVST -F DIFG NF USBJUBJU DPNNF VOF CÂªUF EF TPNNF +F MPHFBJT NÂªNF EBOT VOF Â©UBCMF Â USPJT LJMPNÂÜSFT Â QJFE EF NPO MJFV EF USBWBJM .BJT DF GVU MB QMVT CFMMF QÂ©SJPEF EF NB WJF +Ñ³Z BJ GBJU MB DPOOBJTTBODF EF QFSTPOOFT GPSNJEBCMFT FU NF TVJT QMPOHÂ© EBOT VOF BVUSF DVMUVSF +F OF QFVY RVÑ³FODPVSBHFS MFT QBSFOUT Â FOWPZFS MFVST FOGBOUT Â MÑ³Â©USBOHFS $FMB PVWSF EF QMVT MBSHFT QFSTQFDUJWFT TVS MB WJF {

6/& &91Â&#x2030;3*&/$& 6/*26& "6 70-"/5 %& -" #.8 4Â&#x2030;3*& (3"/ 563*4.0 k 6OF FYQÂ©SJFODF VOJRVF { $Ñ³FTU BJOTJ RVF EFVY DPVQMFT POU RVBMJGJÂ© MFVS XFFL FOE FO 1SPWFODF BV NPJT EÑ³PDUPCSF XFFL FOE HBHOÂ© MPST EÑ³VO DPODPVST #.8 "QSÂ¨T VO FTTBJ BV WPMBOU EF MB OPVWFMMF #.8 4Â©SJF (SBO 5VSJTNP FO 1SPWFODF VO TÂ©KPVS MFVS Â©UBJU PGGFSU Â MÑ³IÂ´UFM EF 8PVU #SV %FQVJT JMT OF DFTTFOU EF MPVFS MÑ³BDDVFJM RVÑ³JMT POU SFÂ§V Â &ZHBMJÂ¨SFT FU MB RVBMJUÂ© FYDFQ UJPOOFMMF EF MB DVJTJOF 5PVU DPNNF 3PE 4UFXBSU BWBOU FVYÒ&#x20AC;

#.8.BHB[JOF

8PVU #SV FTU VO CPO WJWBOU FU VO FTUIÂ¨UF *M BJNF TÑ³FOUPVSFS EF CFMMFT DIPTFT 1PVS QSFVWF MFT Ã½VWSFT EÑ³BSU RVJ Â©NBJMMFOU TPO MPGU BOWFSTPJT EÂ©DPSÂ© BWFD HPÂ»U

#.8.BHB[JOF

%&4 5&.14 /067&"69 &/ 3065& 1063 -Ñ³6/ %&4 %0."*/&4 7*5*$0-&4 -&4 1-64 .0%&3/&4 "6 .0/%& Â&#x20AC; #03% %& -" #.8 4Â&#x2030;3*& #&3-*/&

1IPUPT , "* 68& (6/%-"$)

#.8.BHB[JOF

"6 13&.*&3 3&("3% -& $061 %& '06%3& 1301035*0/4 1"3'"*5&4 '-"/$4 .64$-Â&#x2030;4 &5 -*(/&4 ("-#Â&#x2030;&4 '0/5 %& -" /067&--& #.8 4Â&#x2030;3*& 6/& 7Â&#x2030;3*5"#-& "5)-Â&#x2C6;5&

#.8.BHB[JOF

-FT QSPQPSUJPOT TPOU QBSGBJUFT MB TJMIPVFUUF EF MB OPVWFMMF #.8 4Â©SJF #FSMJOF EPOOF FOWJF EF TÑ³FNQBSFS EV WPMBOU -F MPOH DBQPU NPUFVS MB MJHOF EF UPJU HBMCÂ©F FU MÑ³FNQBUUFNFOU MBSHF TPVMJHOFOU MÑ³Â©MÂ©HBODF EÑ³VOF CFSMJOF RVJ TBJU BVTTJ GBJSF WBMPJS TFT BUPVUT TQPSUJGT TPO QPSUF Â GBVY BWBOU DPVSU TB MJHOF EF DBJTTF UZQÂ©F TFT GMBODT NVTDMÂ©T FU TFT MJHOFT MÂ©HÂ¨SFNFOU BTDFOEBOUFT KVTRVÑ³Â MB QPVQF TVHHÂ¨SFOU NÂªNF Â MÑ³BSSÂªU MF QPUFOUJFM EZOBNJRVF EF MB OPVWFMMF #.8 4Â©SJF -F DBSBDUÂ¨SF EÑ³VOF BVUPNPCJMF FTU QBSGPJT BGGBJSF EF EÂ©UBJMT MFT SÂ©QÂ©UJUFVST EF DMJHOPUBOU QBS FYFNQMF TPOU JOUÂ©HSÂ©T EBOT EFT Â©MÂ©NFOUT DISPNÂ©T RVJ SFOWPJFOU Â MB TJMIPVFUUF BMMPOHÂ©F EF MB WPJUVSF

Â&#x20AC; MÑ³BWBOU MÑ³JNQPTBOUF DBMBOESF ESPJUF FU MFT BOOFBVY MVNJOFVY CMBODT EF MÑ³Â©DMBJSBHF EJVSOF TPVMJHOFOU MF EFTJHO Â RVBUSF ZFVY DBSBDUÂ©SJTUJRVF EF MB QSPVF EFT NPEÂ¨MFT #.8 -Ñ³JNQSFT TJPO EF SFHBSE GJYBOU MB SPVUF FTU BVTTJ EVF Â MÑ³PQBMJO FO WFSSF TBUJOÂ© SBQQFMBOU VOF QBVQJÂ¨SF 7VF EF MÑ³BSSJÂ¨SF MFT MJHOFT IPSJ[POUBMFT FU MFT QBTTBHFT EF SPVF QSPÂ©NJOFOUT DPOGÂ¨SFOU VOF JNQSFTTJPO EF QVJTTBODF FU EF DIBSJTNF Â DFUUF CFSMJOF -FT CMPDT PQUJRVFT BSSJÂ¨SF FO - BWFD USPJT DPOEVJUT MVNJOFVY Â %&- NFUUFOU FO BWBOU MF MPPL UZQÂ© EF MB #.8 4Â©SJF #FSMJOF RVJ NÂªNF EF OVJU SFTUF SFDPOOBJTTBCMF FOUSF NJMMF

#.8.BHB[JOF

-Ñ³IBCJUBDMF EF MB #.8 4Â©SJF #FSMJOF CSJMMF QBS TPO Â©MÂ©HBODF FU TB DMBSUÂ© EÑ³BHFODFNFOU -FT JOHÂ©OJFVST TF TPOU QBSUJDVMJÂ¨SFNFOU BUUBDIÂ©T Â PQUJNJTFS MF DPOGPSU EÑ³VUJMJTBUJPO EFT QSJODJQBMFT GPODUJPOOBMJUÂ©T -B DPOTPMF DFOUSBMF QBS FYFNQMF FTU MÂ©HÂ¨SFNFOU JODMJOÂ©F WFST MF DPOEVDUFVS -F TZTUÂ¨NF EF DPNNBOEF J%SJWF JOOPWBOU FU MFT UPVDIFT EF SBDDPVSDJ MJCSFNFOU QSPHSBNNBCMFT TPOU EÑ³BVUSFT

)"#*5"$-& Â&#x2030;-Â&#x2030;("/5 .0%&3/& -696&69 &5 03*&/5Â&#x2030; 7&34 -& $0/%6$5&63 6/ */5Â&#x2030;3*&63 463 .&463& 1063 -&4 (3"/%4 70:"(&634 -& $0/$&15 %& $0.."/%& */56*5*' &5 &3(0/0.*26& Â&#x2030;5"#-*5 %& /067&--&4 3Â&#x2030;'Â&#x2030;3&/$&4

EÂ©UBJMT DPOUSJCVBOU Â VOF PSJFOUBUJPO QBSGBJUF WFST MF DPOEVDUFVS -Ñ³Â©DSBO EF DPOUSÂ´MF QPVDFT EF MÑ³J%SJWF IBSNPOJFVTFNFOU JOUÂ©HSÂ© Â MB QMBODIF EF CPSE FTU TJUVÂ© Â MB IBVUFVS JEÂ©BMF -B UFDIOPMPHJF k #MBDL 1BOFM { DPOGÂ¨SF BVY DBESBOT SPOET VOF WJTJCJMJUÂ© EJHOF EV IBVU EF HBNNF #PJTFSJFT TFMMFSJFT DVJS QMBTUJRVFT IBVU EF HBNNFÒ&#x20AC; MB RVBMJUÂ© EF DFT NBUÂ©SJBVY Â©MÂ©HBN NFOU DPNCJOÂ©T FTU WJTJCMF FU QBMQBCMF EÂ¨T MB QSFNJÂ¨SF TFDPOEF -FT MJHOFT EV UBCMFBV EF CPSE TF QSPMPOHFOU KVTRVÑ³Â MÑ³BSSJÂ¨SF FO FNQSVOUBOU MFT TVSGBDFT MBUÂ©SBMFT JOTUBVSBOU BJOTJ VOF TFOTBUJPO EÑ³FTQBDF HÂ©OÂ©SFVY %BOT MÑ³PCTDVSJUÂ© MÑ³Â©DMBJSBHF EÑ³BNCJBODF DSÂ©F VOF BUNPTQIÂ¨SF DIBMFVSFVTF FO CBJHOBOU MÑ³IBCJUBDMF EF MB OPVWFMMF #.8 4Â©SJF #FSMJOF EÑ³VOF UPOBMJUÂ© PSBOHF UZQJRVF EF #.8 -B TFOTBUJPO EF CJFO ÂªUSF FTU HBSBOUJF

#.8.BHB[JOF

/PVT OPVT SFOEPOT Â RVFMRVF LJMPNÂ¨USFT BV OPSE EF #BSDFMPOF BV QJFE EFT 1ZSÂ©OÂ©FT EBOT VOF OBUVSF Â MB GPJT TBVWBHF FU EPVDF

70:"(& &/ 70-615Â&#x2030; -" /067&--& #.8 4Â&#x2030;3*& $0/$&/53& 5065 -& 4"70*3 %&4 */(Â&#x2030;/*&634 #.8 %&4 .05&634 &''*$*&/54 &5 %&4 5&$)/0-0(*&4 */5&--*(&/5&4 130$63&/5 6/& &91Â&#x2030;3*&/$& %& $0/%6*5& )034 /03.&4

#.8.BHB[JOF

"QSÂ¨T BWPJS BQQVZÂ© TVS MF CPVUPO EF EÂ©NBSSBHF WPVT EFWSF[ UFOESF MÑ³PSFJMMF QPVS SFDPOOBÂ®USF MF UZQF EF NPUFVS MPHÂ© TPVT MF MPOH DBQPU 5BOU MB CBTTF QSPGPOEF FU Â©RVJMJCSÂ©F EV EJFTFM RVF MB TPOPSJUÂ© QMVT DMBJSF NBJT UPVU BVTTJ QVJTTBOUF EF MB NPUP SJTBUJPO FTTFODF TPOU Â QFJOF QFSDFQUJCMFT EBOT VO IBCJUBDMF Â MÑ³JTPMBUJPO BDPVTUJRVF QBSGBJUF %Â¨T RVF MF DPOEVDUFVS BDUJPOOF MF TÂ©MFDUFVS EF MB CPÂ®UF EF WJUFTTFT BVUP NBUJRVF Â SBQQPSUT PQUJPOOFMMF EF TÂ©SJF TVS MB #.8 J FU EÂ©NBSSF QVJTTBODF FU EZOBNJTNF FOUSFOU FO TDÂ¨OF TBOT MF NPJOESF DPNQSPNJT Â&#x20AC; IBVUT SÂ©HJNFT MB TPOPSJUÂ© EV NPUFVS NÂªMF QVJTTBODF FU EJTDSÂ©UJPO -B QSÂ©DJTJPO EF MB OPVWFMMF CPÂ®UF EF WJUFTTFT BVUPNBUJRVF Â SBQQPSUT TF SFNBSRVF EÑ³FNCMÂ©F -FT QBTTBHFT EF SBQQPSUT TF GPOU Â QFJOF FOUFOESF MFT SÂ©USPHSBEBHFT TÑ³FGGFDUVFOU FO VO Â©DMBJS MPSTRVF MF DPOEVD UFVS B MF QJFE TVS MB QÂ©EBMF EÑ³BDDÂ©MÂ©SBUFVS

4J OÂ©DFTTBJSF MB CPÂ®UF BVUPNBUJRVF QFVU TBVUFS QMVTJFVST SBQQPSUT QPVS NJFVY FYQMPJUFS MFT IBVUT SÂ©HJNFT EFT NPUPSJTBUJPOT #.8 "JOTJ NÂªNF FO WJMMF WPVT SPVMF[ UPVKPVST EBOT MF SBQQPSU MF QMVT Â©MFWÂ© QPTTJCMF $FUUF FYQMPJUBUJPO Â CPO FTDJFOU EF MB QMBHF EF SÂ©HJNFT PQUJNBMF B QPVS FGGFU EÑ³BCBJTTFS EÑ³FOWJSPO MB DPOTPNNBUJPO FU EF SÂ©EVJSF MFT Â©NJTTJPOT EF $0 5PVT MFT NPEÂ¨MFT #.8 4Â©SJF DPOTPNNFOU NPJOT EF DBSCVSBOU RVF MFVST QSÂ©EÂ©DFTTFVST NBMHSÂ© VOF IBCJUBCJMJUÂ© QMVT HÂ©OÂ©SFVTF FU VOF QVJT TBODF BVHNFOUÂ©F VOF QFSGPSNBODF Â NFUUSF BV DSÂ©EJU EF #.8 &GGJDJFOU%ZOBNJDT $FU FOTFNCMF EF UFDIOPMPHJFT FTUBNQJMMÂ© #.8 QPVS MB SÂ©EVDUJPO EFT Â©NJTTJPOT OPDJWFT FTU EJTQPOJCMF EF TÂ©SJF 6OF GMÂ¨DIF CMFVF BQQBSBJTTBOU TVS MF UBCMFBV EF CPSE WPVT JOGPSNF Â DIBRVF GPJT RVF EF MÑ³Â©OFSHJF DJOÂ© UJRVF SÂ©DVQÂ©SÂ©F FO EÂ©DÂ©MÂ©SBUJPO BMJNFOUF MB CBUUFSJF TBOT DPOTPNNBUJPO EF DBSCVSBOU

#.8 4Â©SJF

$BSBDUÂ©SJTUJRVFT UFDIOJRVFT /PNCSF EF DZMJOESFT $ZMJOESÂ©F DN 1VJTTBODF DI L8 $PVQMF NBYJ /N 7JUFTTF NBYJ LN I "DDÂ©MÂ©SBUJPO LN I TFD $POTPNNBUJPO DZDMF VSCBJO M LN $POTPNNBUJPO DZDMF FYUSB VSCBJO M LN $POTPNNBUJPO DZDMF NJYUF M LN &NJTTJPO EF $0 H LN

BWFD CPÂ®UF BVUPNBUJRVF Â SBQQPSUT %JTQPOJCJMJUÂ© QSÂ©WJTJPOOFMMF Â QBSUJS EV F USJNFTUSF &HBMFNFOU EJTQPOJCMF EBOT VOF WFSTJPO NPJOT UBYÂ©F EF L8 DI "VUPMJNJUÂ©F 7BMFVST QSÂ©WJTJPOOFMMFT

#.8.BHB[JOF

7*4*0/ &5 53"%*5*0/ -" #0%&(" *3*64 &45 6/& &91-0*5"5*0/ 7*5*$0-& 1"3.* -&4 1-64 .0%&3/&4 %6 .0/%& -& #Â&#x201A;5*.&/5 " Â&#x2030;5Â&#x2030; $0/Â&#x2021;6 4&-0/ -&4 13*/$*1&4 %& -Ñ³"3$)*5&$563& #*0$-*."5*26& &5 %& /067&--&4 5&$)/*26&4 %& 7*/*'*$"5*0/ 0/5 Â&#x2030;5Â&#x2030; %Â&#x2030;7&-011Â&#x2030;&4

CPJT EJGGÂ©SFOUT POU Â©UÂ© UFTUÂ©T QPVS MB DPOTUSVDUJPO EFT UPOOFBVY BWBOU RVF MFT Ã½OPMPHVFT OÑ³PQUFOU QPVS EFT DIÂªOFT GSBOÂ§BJT FU BNÂ©SJDBJO $J EFTTVT MF EPNBJOF EPJU TPO OPN Â VO QBQJMMPO BQQFMÂ© *SJVT %F MPJO MF CÂ¢UJNFOU BSHFOUÂ© SBQQFMMF FO FGGFU VO QBQJMMPO BVY BJMFT EÂ©QMPZÂ©FT

#.8.BHB[JOF

6OF WJTJPO B QSJT GPSNF EBOT MF OPSE EF MÑ³&TQBHOF "SBHPO MF EPNBJOF WJUJDPMF k *SJVT { TVSHJU FO QMFJOF OBUVSF UFM VO WBJTTFBV TQBUJBM WFOBOU EÑ³VO GVUVS QSPDIF "WFD TFT GJMT $BSMPT FU 4FSHJP +PTÂ© -VJT -B[Â¡SP $BTBSB B EÂ©WFMPQQÂ© MÑ³JEÂ©F EF MB WJUJDVMUVSF EF EFNBJO 1PVS NFOFS Â CJFO MFVS QSPKFU MFT USPJT IPNNFT POU WJTJUÂ© RVFMRVF FYQMPJ UBUJPOT EF QBS MF NPOEF *MT POU TPOEÂ© VO OPNCSF JODBMDVMBCMF EÑ³FYQFSUT TF TPOU BUUBDIÂ© MFT TFSWJDFT EF MÑ³BVEBDJFVY BSDIJUFDUF +FTÂºT .BSJOP 1BTDVBM FU POU EÂ©WFMPQQÂ© EF OPVWFMMFT NÂ©UIPEFT EF USBJUFNFOU EV SBJTJO -F WJO FTU QSPEVJU NÂ¨USFT TPVT UFSSF EBOT EFT IBMMT RVBTJ JOEVTUSJFMT -F TUPDLBHF FTU HÂ©SÂ© QBS PSEJOBUFVS 6O SPCPU MÑ³k *SJVT &YQMPSFS { QBSDPVSU MFT TBMMFT FO QFSNBOFODF QPVS UPVSOFS MÑ³VO

PV MÑ³BVUSF UPOOFBV %FT DIJNJTUFT WPOU FU WJFOOFOU FOUSF MFT JNNFOTFT QSFTTPJST FU QSÂ©MÂ¨WFOU EFT Â©DIBOUJMMPOT EFTUJOÂ©T Â ÂªUSF UFTUÂ©T EBOT MF MBCPSBUPJSF EF MÑ³FYQMPJUBUJPO -F TPVIBJU EFT -B[Â¡SP Â©UBJU EF DPNQSFOESF MB WJUJDVMUVSF EBOT TPO FOTFNCMF QPVS MÑ³BQQMJRVFS Â MB NPEFSOJUÂ© FO TÑ³BGGSBODIJTTBOU EV QPJET EF TJÂ¨DMFT EF USBEJUJPO -FT -B[Â¡SP POU NJT FO Ã½VWSF MFVS QSPKFU BWFD BVUBOU EF QBT TJPO RVF EÑ³PSHBOJTBUJPO *MT POU DIFSDIÂ© VO EPNBJOF PGGSBOU Â MB GPJT MF DMJNBU JEÂ©BM FU MF NFJMMFVS TPM QPTTJCMF &O DF EFSOJFS B Â©UÂ© QSÂ© QBSÂ© EF TPSUF Â PGGSJS BVY WJHOFT EFT DPOEJUJPOT EF DSPJTTBODF PQUJNBMFT -FT CMPDT EF QJFSSF POU Â©UÂ© FOMFWÂ©T FU MFT WJHOFT QMBOUÂ©FT WJB VOF UFDIOPMPHJF (14 QPVS PCUFOJS VO FTQBDF NFOU SÂ©HVMJFS -FT SBJTJOT

QFVWFOU BJOTJ ÂªUSF SÂ©DPMUÂ©T EF OVJU QBS EFT NBDIJOFT EF DPODFQUJPO OPVWFMMF B WV MFT QSFNJFST WJOT FU MFT QSFNJÂ¨SFT EJTUJODUJPOT MB DPOTUSVDUJPO EV CÂ¢UJNFOU BTTPDJÂ© OF TÑ³Â©UBOU BDIFWÂ©F RVÑ³FO MB GPSNF FTU WFOVF QBSBDIFWFS MB WJTJPO XXX CNX CF XXX CNX MV XXX CPEFHBJSJVT DPN

MADE IN BELGIUM

lll#ig^Wj#Xdb

OUTSTANDING in outdoor furniture. 6CK:GH KVc]^Z >c DjiYddg A^[ZhinaZ " 6ckZgh " %($'))#.&#&% • =Vcdajm " Ijgc]dji " %&)$)&#,+#,) • 8a^bVm :cZg\n LZaacZhh " Gjbhi " %&*$'.#%*#%+ • 8Vb^hV " HX]âYZ " %($(-(#*%#,) • KVc 9Zc =ZjkZa " HX]diZc " %($+*&#,%#&& • 7G676CI <daY^Z <VgYZc 8ZciZg " AdjkV^c"AV"CZjkZ " %&%$)-#.)#-. • KVc]^Z >c DjiYddg A^[ZhinaZ " BZ^hZ " %'$','#%&#,' • =dbZ <VgYZc " AdjkV^c @dgWZZ`"Ad " %&+$)+#))#), • [ZZaVi]dbZ " =ZkZg " %&*$*&#'(#(. • A>B7DJG< 8VgbZijb " =VhhZai @Zgbi " %&&$'*#)+#** • A>Ý<: FjVijdg >ci g^Zjg :mi g^Zjg " 7Vii^XZ " %-,$+,#.(#%% • ;A6C9G:H DG>:CI6A:H Hl^ccZc " H^ci"C^àVVh " %($,&%#&&#*& • Èi =j^h kVc DdgYZ\]Zb " DdgYZ\Zb " %.$(+*#)+#+% • AVWng^ci " BZgZaWZ`Z " %.$'(%#,%#&& • Ij^c" 6Yk^ZhXZciZg 8deeZch " CZkZaZ " %.$(,&#*.#'' • ;A6C9G:H D88>9:CI6A:H :edh Ij^cYZXdgVi^Z " OZYZa\Zb " %*%$'%#%&#-- • BZjWâ^ " @cd``Z " %*%$+%#)%#&) • <]Zfj^ZgZ " 8djgigV^ 6VaWZ`Z " %*+$)&#'.#+* • He]ZgZWdm " L^ZahWZ`Z " %*+$++#)*#%, • 7VWh 7^ccZc 7jîZch[ZZg " 6gYdd^Z " %*&$)+#,+#.+ • 8VhiZa 9ZXd " NegZh " %*,$'%#+&#.+ <G6C9"9J8=w 9: AJM:B7DJG</ GdX]Z 7dWd^h " 7ZgigVc\Z " (*' (&.#**#,& C:JIG6! YZh^\c Wn K^cXZci KVc 9jnhZc 8VYgZ Zc Vajb^c^jb ^c_ZXi hdjh ]VjiZ egZhh^dc Zi h^ \Z Zc Wd^h 7ZabVYjg

1"44*0/

#.8.BHB[JOF

%BOT MÑ³IBCJUBDMF EF MB TVQFSCF #.8 . (54 MB DBHF EF TÂ©DVSJUÂ© FU MFT TJÂ¨HFT CBRVFUT BTTVSFOU VOF WÂ©SJUBCMF BNCJBODF EF DPNQÂ©UJUJPO -F MBSHF BJMFSPO BSSJÂ¨SF HBSBOUJU VO BÂ©SPEZOBNJTNF PQUJNBM

&953Â&#x160;.&

%Â©WFMPQQFS VOF WFSTJPO VMUJNF EF MB #.8 . FTU DF QPTTJCMF -B EJWJTJPO .PUPS TQPSU EF #.8 FTU SFTUÂ©F è¶&#x2018; EÂ¨MF Â MB USBEJUJPO FU B SFMFWÂ© DF EÂ©è¶&#x2018; EPOOBOU OBJTTBODF Â VO NPEÂ¨MF FYUSÂªNF FU QBSUJDVMJÂ¨SFNFOU SÂ©VTTJ MB #.8 . (54 5FYUF + 0 0 4 5 $ 6 4 5 & 3 4

-B EJWJTJPO .PUPSTQPSU EF MB NBSRVF CBWBSPJTF B UPVKPVST BJNÂ© SFMFWFS MFT EÂ©GJT 1FOTF[ EPOD Â MB #.8 . & $4- PV Â MB #.8 . & $4- " MÑ³JOT UBS EF TFT EFWBODJÂ¨SFT DFUUF OPVWFMMF #.8 . (54 OF QBTTFSB QBT JOBQFSÂ§VF 4FT DPODFQUFVST POU USPVWÂ© MFVS JOTQJSBUJPO TVS MFT DJSDVJUT MFT QMVT MÂ©HFOEBJSFT EV NPOEF &U DFUUF TBJTPO MB WFSTJPO DPNQÂ©UJUJPO EF MB #.8 . (54 QPVSSB ÂªUSF BENJSÂ©F TVS MFT QJTUFT EF 'SBODPSDIBNQT EV .BOT FU EV /Â¼SCVSHSJOH )PST QJTUF BVTTJ MB EFSOJÂ¨SF DSÂ©BUJPO EF #.8 . FYQSJNF VO BVUIFOUJRVF FTQSJU EF DPNQÂ©UJUJPO -Ñ³BJMFSPO BSSJÂ¨SF FU MF TQMJUUFS BWBOU MVJ HBSBOUJTTFOU EFT RVBMJUÂ©T BÂ©SPEZOBNJRVFT FODPSF SFIBVTTÂ©FT 4PO DBQPU NPUFVS FO BMVNJOJVN FU MF QBOOFBV EF UPJU FO DBSCPOF MVJ QFSNFUUFOU EÑ³ÂªUSF FODPSF QMVT MÂ©HÂ¨SF NBJT BVTTJ EF EJTQPTFS EÑ³VO DFOUSF EF HSBWJUÂ© TVSCBJTTÂ© &O QÂ©OÂ©USBOU EBOT MÑ³IBCJUBDMF WPVT EÂ©DPVWSF[ UPVU TJNQMFNFOU MÑ³VOJWFST EFT QJMPUFT #.8 FO DPNQÂ©UJUJPO BWFD EFT TJÂ¨HFT CBRVFUT HBSOJT EF DVJS BMDBOUBSB EFT IBSOBJT EF TÂ©DVSJUÂ© Â TJY QPJOUT FU VOF DBHF EF TÂ©DVSJUÂ© &U DPNNF TJ DFMB OF TVG GJTBJU QBT DFU IBCJUBDMF FTU EÂ©QPVJMMÂ© EF MB CBORVFUUF BSSJÂ¨SF EF MB DMJNBUJTBUJPO FU EV DPNCJOÂ© BVEJP 1MVT FYUSÂªNF DF OÑ³FTU DFSUBJOFNFOU QBT QPTTJCMF -FT KBOUFT EF QPVDFT MFT TVTQFOTJPOT SÂ©HMBCMFT FU MFT EJTRVFT EF GSFJO QFSGPSÂ©T GPOU MF SFTUF &O DF RVJ DPODFSOF MB DPVMFVS FMMF OÑ³FTU QSPQPTÂ©F RVF EBOT VO DPMPSJT PSBOHF FYDMVTJG -F QSJY JOEJDBUJG EF MB #.8 . (54 FTU EF â&#x201A;¬ 2VBUSF FYFNQMBJSFT TFSPOU EJTQPOJCMFT QPVS MF #FOFMVY -FT QSFNJÂ¨SFT #.8 . (54 TFSPOU MJWSÂ©FT FO NJMJFV EÑ³BOOÂ©F -F SFDPSE EV UPVS TVS MF DÂ©MÂ¨CSF FU MÂ©HFOEBJSF DJSDVJU EV /PSETDIMFJGF FO "MMF NBHOF SJTRVF CJFO EÑ³ÂªUSF SBQJEFNFOU CBUUV

#.8.BHB[JOF

"ESJBO WBO )PPZEPOL BOT FTU EJSFDUFVS EV EFTJHO EF #.8 (SPVQ EFQVJT EÂ©CVU "WBOU MB #.8 4Â©SJF JM B EÂ©KÂ Â©UÂ© SFTQPOTBCMF EV EFTJHO EF MB #.8 4Â©SJF EF MB #.8 ; EF MB #.8 4Â©SJF (SBO 5VSJTNP FU EF MB #.8 7JTJPO &GGJDJFOU%ZOBNJDT

#.8.BHB[JOF

3 & $ ) & 3 $ ) & % & ' 0 3 . & 1PJOU BQSÂ¨T QPJOU KVTRVÑ³BV SÂ©TVMUBU è¶&#x2018; OBM MF EJSFDUFVS EV EFTJHO #.8 "ESJBO WBO )PPZEPOL Â©WPRVF MÑ³BTQFDU FYUÂ©SJFVS EF MB OPVWFMMF #.8 4Â©SJF #FSMJOF

&OUSFUJFO + " / , * 3 4 5 & / # * & / & 3

#.8.BHB[JOF

.POTJFVS WBO )PPZEPOL RVFMMF FTU TFMPO WPVT MB QBSUJDVMBSJUÂ© EF MB OPVWFMMF #.8 4Â©SJF -B OPVWFMMF #.8 4Â©SJF SÂ©WÂ¨MF BV QSFNJFS DPVQ EÑ³Ã½JM UPVU DF RVF MÑ³PO WB QPVWPJS WJWSF BWFD FMMF &MMF FTU DPNNF VO DPTUVNF TVS NFTVSF RVJ TJFE QBSGBJUFNFOU Â TPO DPOEVDUFVS FO UPVUFT DJSDPOTUBODFT 2VF DF TPJU EBOT MF DBESF EF TB QSPGFTTJPO EF TFT WBDBODFT PV EF TPO RVPUJEJFO FMMF MVJ BTTVSF UPVKPVST VOF QSÂ©TFOUBUJPO Â©MÂ©HBOUF -B #.8 4Â©SJF B UPVKPVST KPVÂ© VO SÂ´MF QBS UJDVMJFS BV TFJO EF MB HBNNF #.8 2VÑ³FO FTU JM BVKPVSEÑ³IVJ -B #.8 4Â©SJF DPOTUJUVF OPUSF DÃ½VS EF HBNNF &MMF QPTTÂ¨EF MB QMVT MPOHVF HÂ©OÂ©BMPHJF FU FTU EPOD QSPGPOEÂ©NFOU BODSÂ©F EBOT OPUSF IJTUPJSF &MMF JODBSOF MÑ³BMMJBODF QBSGBJUF EF MÑ³Â©MÂ©HBODF FU EF MB TQPSUJWJUÂ© 7PVMF[ WPVT NFUUSF QBSUJDVMJÂ¨SFNFOU FO BWBOU DFT EFVY BTQFDUT -F EFTJHO EF OPUSF OPV WFBV NPEÂ¨MF TF DBSBDUÂ©SJTF QBS EFT GBDFT BWBOU FU BSSJÂ¨SF USÂ¨T EZOBNJRVFT FU TQPSUJWFT UBOEJT RVF EF QSPGJM JM TF EJTUJOHVF QBS TPO Â©MÂ©HBODF FU TB GMVJEJUÂ© 1PVWPOT OPVT BGGJSNFS RVF WPVT BWF[ DPODSÂ©UJTÂ© USPJT JEÂ©FT EF EFTJHO FO VO TFVM FU NÂªNF WÂ©IJDVMF VOF QBSUJF BWBOU USÂ¨T SBDÂ©F VO QSPGJM Â©MÂ©HBOU FU VO BSSJÂ¨SF TQPSUJG 0O QFSÂ§PJU UPVKPVST VO WÂ©IJDVMF DPNNF VO UPVU $IBRVF #.8 FYQSJNF GPSUFNFOU MB TQPSUJWJUÂ© FU MÑ³Â©MÂ©HBODF MÑ³BD DFOU Â©UBOU NJT EJGGÂ©SFNNFOU TVS MÑ³VO PV MÑ³BVUSF EF DFT BTQFDUT TVJWBOU MF NPEÂ¨MF 1PVS NPJ MB OPV WFMMF #.8 4Â©SJF FTU MB CFSMJOF EÑ³BGGBJSFT TQPSUJWF QBS FYDFMMFODF .BMHSÂ© TPO BQQBSUFOBODF Â©WJEFOUF BV NPOEF EFT NPEÂ¨MFT IBVU EF HBNNF FMMF BGGJDIF

#.8.BHB[JOF

DMBJSFNFOU TB TQÂ©DJGJDJUÂ© $Ñ³FTU BJOTJ RVÑ³FTU OÂ© MÑ³FY UÂ©SJFVS MB OPVWFMMF #.8 4Â©SJF TF EJTUJOHVF QBS VOF QSPVF DIBSJTNBUJRVF RVJ TVHHÂ¨SF MF EZOB NJTNF %F QSPGJM PO SFNBSRVF TPO Â©MÂ©HBODF SBGGJ OÂ©F UBOEJT RVF MB QPVQF TF EÂ©NBSRVF QBS VOF TQPS UJWJUÂ© OBUVSFMMF FU BVUIFOUJRVF 5FM Â©UBJU MF DBIJFS EFT DIBSHFT FU KF DSPJT RVF OPVT OPVT Z TPNNFT QBSGBJ UFNFOU UFOVT 7PVT TPVMJHOF[ WPMPOUJFST MF EZOBNJTNF EV NPEÂ¨MF &GGFDUJWFNFOU MF DBQPU NPUFVS FTU QBSUJDVMJÂ¨SFNFOU MPOH MÑ³JNQSFTTJPO EÑ³FO TFNCMF FTU DFMMF EÑ³VOF BVUPNPCJMF QMVUÂÚ USB QVF MF UPJU GBJU QFOTFS Â VO DPVQÂ© FU MFT QSPKFD UFVST TÑ³Â©UJSFOU TVS MFT DÂÚÂ©T +VTRVÑ³Â RVFM QPJOU VOF #.8 4Â©SJF #FSMJOF EPJU FMMF ÂªUSF TQPS UJWF 6OF #.8 EPJU UPVKPVST FYQSJNFS MF EZOB NJTNF -B #.8 4Â©SJF FO QBSUJDVMJFS FTU USÂ¨T QSJTÂ©F EFT DMJFOUT RVJ BJNFOU DPOEVJSF BVTTJ TVS EF MPOHVFT EJTUBODFT $FT DPOEVDUFVST BQQSÂ©DJFOU Â TB KVTUF WBMFVS MF EZOBNJTNF DBSBDUÂ©SJTUJRVF EFT #.8 %F QBS TPO IJTUPJSF MFT QSPQPSUJPOT EF MB #.8 4Â©SJF TPOU DMBJSFNFOU EÂ©GJOJFT QPSUF Â GBVY DPVSUT FNQBUUFNFOU MPOH DBQPU NPUFVS BMMPOHÂ© FU IBCJUBDMF SFDVMÂ© +F USPVWF RVF MB #.8 4Â©SJF QPTTÂËF EFT QSPQPSUJPOT IBSNPOJFVTFT FU Â©RVJMJCSÂ©FT DPOKVHVÂ©FT Â MÑ³Â©MÂ©HBODF JOUFNQPSFMMF UZQJRVF EF OPT HSBOET NPEÂ¨MFT Â&#x20AC; QSPQPT EV DBQPU NPUFVS RVFMMF FTU MB GPODUJPO EF DFU Â©MÂ©NFOU EF TUZMF TFDPOEBJSF NBJT UZQÂ© -FT EFVY MJHOFT EF DBSBDUÂ¨SF RVJ DPV SFOU TVS MF DBQPU NPUFVS DPOGÂ¨SFOU BV NPEÂ¨MF EBWBOUBHF EÑ³BDVJUÂ© FU EF QSÂ©DJTJPO

$F RVJ BQQBSBÂ®U EÑ³BCPSE DPNNF OPO TUSVDUVSÂ© QSFOE GPSNF QFV Â QFV KVTRVÑ³Â BCPVUJS BVY DPOUPVST EÂ©GJOJUJGT EF MB OPVWFMMF #.8 4Â©SJF #FSMJOF

#.8.BHB[JOF

-B MJHOF EF UPJU GVZBOUF Â©WPRVBOU DFMMF EÑ³VO DPVQÂ© BGGJDIF VOF Â©MÂ©HBODF JOUFNQPSFMMF

#.8.BHB[JOF

CPSE RVJ TF QPVSTVJU EV DÂ´UÂ© EV QBTTBHFS BWBOU 0V QSFOF[ MB KPODUJPO FOUSF MF UBCMFBV EF CPSE FU MB QPS UJÂ¨SF QBS MF CJBJT EÑ³VOF TVSGBDF DISPNÂ©F 5PVT DFT EÂ©UBJMT SBGGJOÂ©T GPOU MF DIBSNF EF MÑ³JOUÂ©SJFVS EF MB OPVWFMMF #.8 4Â©SJF 0O EJTUJOHVF BV OJWFBV EFT QSPKFDUFVST VO PQBMJO SBQQFMBOU VOF QBVQJÂ¨SF Â&#x20AC; MÑ³BSSJÂ¨SF MFT GFVY POU VOF GPSNF FO - NBSRVÂ©F 1PVSRVPJ MFVS BWPJS EPOOÂ© VO BTQFDU BVTTJ UZQÂ© (SÂ¢DF Â DF EFTJHO EJU OPDUVSOF PO JEFOUJGJF JNNÂ©EJBUFNFOU MB #.8 4Â©SJF FO UBOU RVF UFMMF NÂªNF EBOT MÑ³PCTDV SJUÂ© -B QSJODJQBMF DBSBDUÂ©SJTUJRVF EF MB QBSUJF BWBOU DÑ³FTU TPO SFHBSE GJYBOU MB SPVUF $FUUF JNQSFTTJPO QSPWJFOU EFT EPVCMFT QSPKFDUFVST SPOET MÂ©HÂ¨SFNFOU DPVQÂ©T EBOT MFVS QBSUJF TVQÂ©SJFVSF Â&#x20AC; MÑ³BSSJÂ¨SF MFT GFVY BSCPSFOU VOF GPSNF FO - DBSBDUÂ©SJTUJRVF JTTVF EF MB USBEJUJPO #.8 NBJT JMT OÑ³FO TPOU QBT NPJOT Â©RVJQÂ©T EF MB UFDIOPMPHJF %&- DPNNF DÑ³FTU MF DBT TVS UPVUFT MFT WPJUVSFT NPEFSOFT 1BS RVFMT EÂ©UBJMT WPVMJF[ WPVT EJGGÂ©SFODJFS QBSUJDVMJÂ¨SFNFOU DF NPEÂ¨MF EF TPO QSÂ©EÂ©DFT TFVS /PVT BWPOT EFTTJOÂ© VOF DBMBOESF USÂ¨T ESPJUF RVJ QSÂ©TFOUF NÂªNF VOF MÂ©HÂ¨SF GPSNF FO QPJOUF TPVMJHOBOU MB TQPSUJWJUÂ© EV NPEÂ¨MF &O NÂªNF UFNQT FMMF DSÂ©F VO MJFO BWFD MÑ³IJTUPJSF EF OPUSF EFTJHO "V GJOBM MB OPVWFMMF #.8 4Â©SJF QBSBÂ®U VO QFV QMVT USBQVF RVF TB EFWBODJÂ¨SF DF RVJ MB SFOE QMVT EZOBNJRVF 4VS DF NPEÂ¨MF MB EPVCMF DBMBOESF FTU FO FGGFU USÂ¨T UZQÂ©F FU USÂ¨T MBSHF 1PVSRVPJ -B EPVCMF DBMBOESF OÑ³FTU Â©WJEFNNFOU QBT RVÑ³VO Â©MÂ© NFOU EF TUZMF &MMF SFNQMJU EÑ³BCPSE FU BWBOU UPVU MB GPODUJPO JNQPSUBOUF EF QSJTF EÑ³BJS .BJT TVS MB OPV WFMMF #.8 4Â©SJF TB NJTTJPO FTU BVTTJ EF USBOT NFUUSF VO NFTTBHF DMBJS DFUUF CFSMJOF FTU TQPSUJWF

XXX CNX DPN TFSJF EFTJHO

1IPUPT &-*"4 )"4404 QPSUSBJU )*&1-&3 #36/*&3 ,JOFUJD 4DVMQUVSF )0$),"/5'*-. 3FOEFSJOHT

7PVT TFNCMF[ BJNFS CFBVDPVQ USBWBJMMFS BWFD MFT MJHOFT -FT QPJHOÂ©FT EF QPSUFT TPOU FMMFT BVTTJ QBSGBJUFNFOU JOUÂ©HSÂ©FT Â MB MJHOF EF DBSSPTTFSJF -F MBOHBHF FTUIÂ©UJRVF #.8 EPOOF MB QSJPSJUÂ© BVY QSPQPSUJPOT FU BVY WPMVNFT $F OÑ³FTU RVÑ³BV EFVYJÂ¨NF DPVQ EÑ³Ã½JM RVF MÑ³PO SFNBSRVF MFT MJHOFT RVJ EÂ©MJNJUFOU MFT TVSGBDFT -FT RVFMRVFT MJHOFT RVJ EÂ©DSJWFOU MB OPVWFMMF #.8 4Â©SJF Â©UJSFOU MF WÂ©IJDVMF FU DSÂ©FOU VOF DFSUBJOF UFOTJPO &MMFT NBSJFOU Â©MÂ©HBODF FU QSÂ©DJTJPO Ñ FMMFT TPOU JNQPS UBOUFT UPVU FO SFTUBOU OÂ©BONPJOT VO EÂ©UBJM %Ñ³BQSÂ¨T RVFMT DSJUÂ¨SFT DIPJTJTTF[ WPVT MFT DPVMFVST EF WPT NPEÂ¨MFT -FT DPVMFVST FU MFT NB UÂ©SJBVY QFSNFUUFOU EF QSÂ©DJTFS FODPSF EBWBOUBHF MF DBSBDUÂ¨SF EÑ³VOF BVUPNPCJMF -B DPNCJOBJTPO UFJOUF EF DBSSPTTFSJF k 4QBDFHSBV { JOUÂ©SJFVS k 7FOFUP CFJHF { FU CPJT QSÂ©DJFVY k "OUISB[JU { FTU UPVU Â GBJU DMBTTJRVF $FMVJ RVJ EÂ©TJSF BDDFOUVFS EBWBOUBHF MF DÂ´UÂ© TQPSUJG DIPJTJSB QBS FYFNQMF VOF DBSSPTTFSJF k 5JUBOTJMCFS { NBSJÂ©F Â VOF TFMMFSJF DVJS %BLPUB k ;JNUCSBVO { FU EFT JOTFSUT EÂ©DPSBUJGT FO BMVNJOJVN Â&#x20AC; MÑ³JOUÂ©SJFVS WPVT BWF[ PQUÂ© QPVS EFT TVS GBDFT OFUUFT TBOT GJPSJUVSFT TVS MFTRVFMMFT MB MVNJÂ¨SF HMJTTF FO DPOUJOVJUÂ© 1PVSRVPJ *M GBMMBJU RVF MÑ³PO SFUSPVWF BVTTJ Â MÑ³JOUÂ©SJFVS MF EZOB NJTNF FU MÑ³Â©MÂ©HBODF /PVT BWPOT EPOD PQUÂ© QPVS VO EFTJHO USÂ¨T GMVJEF QPVS MB QMBODIF EF CPSE FU MFT QPS UJÂ¨SFT $PNNFOU QBSWFOF[ WPVT Â DSÂ©FS VOF BU NPTQIÂ¨SF BVTTJ NPEFSOF Â MÑ³JOUÂ©SJFVS %Ñ³BCPSE FO GBJTBOU FO TPSUF RVF MÑ³JOUÂ©SJFVS FU MÑ³FYUÂ©SJFVS GPS NFOU VO UPVU IBSNPOJFVY $PNNF Â MÑ³FYUÂ©SJFVS MÑ³PC TFSWBUFVS EÂ©DPVWSF BVTTJ EFT OPVWFBVUÂ©T Â MÑ³JOUÂ© SJFVS BV GVS FU Â NFTVSF RVÑ³JM TF SBQQSPDIF $F OÑ³FTU RVÑ³BV EFVYJÂ¨NF DPVQ EÑ³Ã½JM QBS FYFNQMF RVÑ³JM SFNBSRVF MF HBMCF EFT EFVY MJHOFT TVS MF UBCMFBV EF

Ann Cammu Private Banker

“

EN SUIVANT MES CLIENTS ANNÉE APRÈS ANNÉE, dans les moments agréables comme dans les situations plus difficiles, je développe avec eux une relation de proximité qui me permet de répondre au mieux à leurs multiples attentes. J’ai coutume de dire que le private banker est une sorte de caméléon. Il doit pouvoir s’adapter à toutes les situations afin d’épauler ses clients de manière professionnelle. Grâce au réseau de 35 Private Banking Centres que BNP Paribas Fortis Private Banking met en place progressivement sur l’ensemble du territoire belge, cette proximité se voit encore renforcée. Mes clients y seront accueillis dans les meilleures conditions de discrétion et auront désormais accès localement à des compétences diverses. En effet, en tant que private banker, j’accompagne mes clients aussi bien pour la structuration de leurs actifs que pour le financement de leurs projets, leurs placements financiers ou leurs opérations bancaires courantes. C’est ainsi que je conçois la relation avec mes clients et que je souhaite m’engager auprès d’eux.

”

A PROXIMITÉ DE CHEZ VOUS, LES PRIVATE BANKING CENTRES VOUS OFFRENT UN SERVICE GLOBAL, DES OPÉRATIONS BANCAIRES LES PLUS SIMPLES À L’ÉLABORATION D’UN PROJET PATRIMONIAL COMPLEXE.

Bienvenue dans la nouvelle Private Bank de BNP Paribas Fortis N’hésitez pas à prendre rendez-vous au 0800/98542 ou à poser vos questions sur www.bnpparibasfortis.be/privatebanking

E.R. : F. Peene, Fortis Banque SA, Montagne du Parc 3 - 1000 Bruxelles – RPM Bruxelles – TVA BE 0403.199.702

LA PROXIMITÉ EST L’UNE DES VALEURS-CLÉS DE LA RELATION ENTRE UN PRIVATE BANKER ET SON CLIENT.

5FYUF

1IPUPT

+6-*" (3044&

)&*,0 13*((&

"6 /0. %& -Ñ³"35

06 -Ñ³"35 %& -" 7&/5&

1SJODJQBM GPSVN EF MB HÂ©OÂ©SBUJPO NPOUBOUF EV NBSDIÂ© EF MÑ³BSU 'SJF[F "SU EÂ©WPJMF MFT JODPOUPVSOBCMFT EF EFNBJO k $FUUF NFSWFJMMF EPJU ÂªUSF Â MÑ³BJS MJCSF { TÑ³FYDMBNF VO HFOUMFNBO IBCJMMÂ© EF CMBOD NJNBOU Â HSBOET HFTUFT MFT DPVSCFT FYDFOUSJRVFT EÑ³VOF TDVMQUVSF EF LJMPT FO JOPY TJHOÂ©F 5POZ $SBHH FU BQQPSUÂ©F QBS MB HBMFSJF TBM[CPVSHFPJTF 5IBEEBFVT 3PQBD k %F QSÂ©GÂ©SFODF BV CPSE EF UB QJTDJOF { MVJ TPVGGMF TPO BDDPNQBHOBUFVS FO TDSVUBOU EÑ³VO Ã½JM JORVJFU MB MJTUF EFT QSPDIBJOT SFOEF[ WPVT TVS TPO #MBDLCFSSZ WFSOJTTBHFT EÂ®OFST BWFD EFT BSUJTUFT CSVODIT BWFD EFT DPNNJTTBJSFT EÑ³FYQPTJUJPO WJTJUFT EÑ³BUFMJFS TPJSÂ©FT QPVS DPMMFDUJPOOFVST -Ñ³BSU DPOUFNQPSBJO DF OÑ³FTU QBT EF UPVU SFQPT 4VSUPVU QFOEBOU MFT DJOR KPVST EÑ³PDUPCSF PÂ¹ MÑ³BWBOU HBSEF NPOEJBMF TF SFUSPVWF Â -POESFT DIBRVF BOOÂ©F 1BS SBQQPSU BVY TBMPOT CJFO Â©UBCMJT Ñ "SU #BTFM MB '*"$ EF 1BSJT PV FODPSF "SU $PMPHOF Ñ 'SJF[F "SU WB FODPSF Â MB k $PNNVOBMF { NBJT FOUFOE CJFO CSÂ»MFS MFT Â©UBQFT EÑ³VOF k TDPMBSJUÂ© { NFOÂ©F BV QBT EF DIBSHF &O Â QFJOF TFQU BOT EÑ³FYJTUFODF JM TÑ³FTU IJTTÂ© BV UPVU QSFNJFS SBOH FU SBTTFNCMF TPVT TPO Â©UFOEBSE MFT QSJODJQBMFT HBMFSJFT EV NPOEF EFT HÂ©BOUT DPNNF (BHPTJBO RVJ SÂ©RVJTJUJPOOFOU EFT TVSGBDFT EÑ³FYQPTJUJPO DPMPTTBMFT BVY QFUJUFT FOTFJHOFT DSÂ©BUJWFT UFMMFT )PMMZCVTI (BSEFOT EF -POESFT RVJ TF DPOUFOUFOU EF RVFMRVFT NÂ¨USFT DBSSÂ©T #.8.BHB[JOF

4&15 "/4 "13Â&#x2C6;4 4" 13&.*Â&#x2C6;3& Â&#x2030;%*5*0/ &/ '3*&;& "35 '*(63& "6 (05)" %&4 (3"/%&4 '0*3&4 .0/%*"-&4 %& -Ñ³"35

6OF DPMMBCPSBUSJDF EF MB (BHPTJBO (BMMFSZ TÑ³BDDPSEF VOF QFUJUF QBVTF UFYUPT TVS VOF TDVMQUVSF EF MÑ³BSUJTUF BVUSJDIJFO 'SBO[ 8FTU

(BMFSJTUF WFEFUUF EF MB TDÂ¨OF MPOEPOJFOOF .BVSFFO 1BMFZ FTU VOF EFT DIFWJMMFT PVWSJÂ¨SFT EV NBSDIÂ© JOUFSOBUJPOBM EF MÑ³BSU %Â©TPMÂ© NBJT MB QIPUP BV SPVHF GMBNCPZBOU EF 8PMGHBOH 5JMMNBO FTU EÂ©KÂ WFOEVF

#.8.BHB[JOF

*DJ TUBUVGJÂ© FO CMFV EBOT MFT MPDBVY EF MB HBMFSJF &NNBOVFM 1FSSPUJO EF 1BSJT MÑ³BSDIJUFDUF WFEFUUF 4JS /PSNBO 'PTUFS MF WSBJ

B BDRVJT QPVS MJWSFT VOF UBQJTTFSJF EF (SBZTPO 1FSSZ UJUVMBJSF EV QSJY 5VSOFS

k -Ñ³BNCJBODF FTU CPOOF MFT HFOT QSFOOFOU EF OPVWFBV MF UFNQT EF SFHBSEFS BWBOU EÑ³BDIFUFS { DPOTUBUF "TI -Ñ³"OHF EF MB HBMFSJF )FSBME 4U )BMM Â HBVDIF

k -&4 (&/4 4& 40/5 -"44Â&#x2030;4 %&4 4$6-1563&4 (0/'-"#-&4 %Ñ³6/ 5","4)* .63",".* 06 %Ñ³6/ %".*&/ )*345 *-4 40/5 &/ %&."/%& %& 53"7"69 %& -" (Â&#x2030;/Â&#x2030;3"5*0/ .0/5"/5& 26* 3"$0/5&/5 6/& )*450*3& &5 $0Â&#x203A;5&/5 %0--"34 1"4 6/ .*--*0/ {

Â&#x2030;OFSHJF KVNFMMF MB DPMMFDUJPOOFVTF EÑ³BSU 7BMFSJB /BQPMFPOF Â ES BWFD TB TÃ½VS 4UFGBOJB 1SBNNB EFWBOU VOF Ã½VWSF EF MB USÂ¨T EFNBOEÂ©F (PTILB .BDVHB #.8.BHB[JOF

'SJF[F "SU FTU VOF JO EÂ©OJBCMF TVDDFTT TUPSZ RVJ UJSF TPO PSJHJOF EÑ³VO NBHB[JOF IPNPOZNF MBODÂ© FO 'JOT DPOOBJTTFVST EV NJMJFV BSUJTUJRVF EBOT MFRVFM JMT TPOU FYDFMMFNNFOU JOUSPEVJUT TFT Â©EJUFVST "NBOEB 4IBSQ FU .BUUIFX 4MPUPWFS TVTDJUFOU JNNÂ©EJBUFNFOU MÑ³JORVJÂ©UVEF EF MÑ³FTUBCMJTINFOU MPST RVÑ³JMT GPOEFOU MFVS TBMPO FO -FT TBMMFT EFT WFOUFT TÑ³BSSBOHFOU QPVS GBJSF DPÂ¯ODJEFS MFVST WFOUFT MPO EPOJFOOFT BWFD MB UFOVF EV OPVWFBV TBMPO 6OF GPJSF QBSBMMÂ¨MF CBQUJTÂ©F ;PP "SU 'BJS WPJU MF KPVS %FT QBSUJ DVMJFST PVWSFOU MFT QPSUFT EF MFVST DPMMFDUJPOT QSJWÂ©FT -PJO EÑ³FO QÂ¢UJS 'SJF[F "SU QSPGJUF EF DF SFHBJO EÑ³BD UJWJUÂ© k &O WFOBOU Â -POESFT Â DFUUF QÂ©SJPEF MFT DPMMFDUJPOOFVST IBVU EF HBNNF QFVWFOU EÂ©DPVWSJS FO QSJNF MFT EFSOJÂ¨SFT DSÂ©BUJPOT EÑ³VO "OJTI ,BQPPS PV EÑ³VO +PIO #BMEFTTBSJ { DPNNFOUF 4BEJF $PMFT VOF EFT HBMFSJTUFT QSÂ©TFOUF Â MB GPJSF 4PO TUBOE TF USPVWF EBOT MÑ³BMMÂ©F EFT k QPJET MPVSET { *DJ MF NÂ¨USF DBSSÂ© DPÂ»UF VOF QFUJUF GPSUVOF 6O QFV QMVT MPJO DIF[ (BHPTJBO VO 3FEÂ©DPVWFSU 4BSBI 5IPSOUPO DSJUJRVF EÑ³BSU CSJUBOOJRVF EFWBOU MFT DPVMFVST GMVP EÑ³VOF Ã½VWSF EF MÑ³BSUJTUF BNÂ©SJDBJO 1FUFS )BMMFZ VOF TUBS QSFTRVF PVCMJÂ©F EV HSBOE CPVN EFT BOOÂ©FT

"V NÂªNF UJUSF RVF DIBJTFT FU UBCMFT DFT QPSUBCMFT .BD#PPL "JS TPOU EFT Â©MÂ©NFOUT JODPOUPVSOBCMFT EF DIBRVF TUBOE EF 'SJF[F "SU *NBHF TUVEJFVTF HBSBOUJF FU QPTTJCJMJUÂ© QPVS MFT DMJFOUT QPUFOUJFMT EF EÂ©DPVWSJS EÑ³BVUSFT Ã½VWSFT EFT BSUJTUFT FYQPTÂ©T

WFOEFVS TF MJWSF Â VOF FYÂ©HÂ¨TF QBTTJPOOÂ©F EÑ³VOF Ã½VWSF EÑ³&E 3VTDIB BV CÂ©OÂ©GJDF EÑ³VO DMJFOU BTJBUJRVF RVÑ³JM EÂ©MBJTTF TBOT Â©UBU EÑ³Â¢NF BV QBTTBHF EÑ³VO DPMMFDUJPOOFVS BV QPSUF GFVJMMF NJFVY HBSOJ -FT UFNQT TPOU SÂ©WPMVT PÂ¹ MFT HBMFSJTUFT QPVWBJFOU TF DPOTUJUVFS EÑ³JOUFSNJOBCMFT MJTUFT EF SÂ©TFSWBUJPO -B WBO UBSEJTF OÑ³B QMVT MB DPUF k )JFS KÑ³BJ DPOEVJU VO WJTJUFVS RVJ QBSUJDJQBJU Â VOF FODIÂ¨SF TVS TPO UÂ©MÂ©QIPOF QPSUBCMF FYQMJRVF VO DIBVGGFVS EV TFSWJDF EF OBWFUUF #.8 QPVS MFT IÂ´UFT 7*1 EV TBMPO 'JOBMFNFOU JM B KFUÂ© MÑ³Â©QPOHF Â MJWSFT { +VTRVÑ³JM Z B EFVY BOT FOWJSPO JM TFSBJU TBOT EPVUF SFTUÂ© EBOT MB DPVSTF Â&#x20AC; MÑ³Â©QPRVF PO DPNQUBJU FODPSF QMVT EÑ³VO NJMMJFS EF NJM MJBSEBJSFT EF QBS MF NPOEF MFT QSJY EF MÑ³JN NPCJMJFS EF MÑ³BDJFS FU EV QÂ©USPMF GMBNCBJFOU FU DÑ³FTU QSÂ©DJTÂ©NFOU EBOT MÑ³BSU DPOUFNQP SBJO RVF MB GSÂ©OÂ©TJF TQÂ©DVMBUJWF Â©UBJU MB QMVT EÂ©MJSBOUF -FT BDIFUFVST Z WPZBJFOU MF QMB DFNFOU JEÂ©BM BWFD MB QFSTQFDUJWF EF QMVT WBMVFT Â©QPVTUPVGMBOUFT EF PV QMVT -B CVMMF DPOUJOVB EÑ³FOGMFS KVTRVÑ³BV TFQ UFNCSF KPVS PÂ¹ %BNJFO )JSTU FODBJTTB MB TPNNF QIÂ©OPNÂ©OBMF EF NJMMJPOT EF MJWSFT Â MÑ³JTTVF EÑ³VOF WFOUF EF TFT Ã½VWSFT DIF[ 4PUIFCZÑ³T BMPST NÂªNF RVF TÑ³FGGPOESBJU EF MÑ³BVUSF DÂ´UÂ© EF MÑ³"UMBOUJRVF MB CBORVF EÑ³JO WFTUJTTFNFOU BNÂ©SJDBJOF -FINBO #SPUIFST -B DSJTF CBODBJSF OF UBSEB QBT Â HBHOFS MF NBSDIÂ© EF MÑ³BSU k 7FST MB GJO DÑ³Â©UBJU EFWFOV DBSSÂ©NFOU BCTVSEF /PVT TPNNFT QSFTRVF DPOUFOUT RVF DF TPJU GJOJ DPOGJF VOF HBMFSJTUF BMMFNBOEF QSÂ©TFOUF Â 'SJF[F "SU .BJOUFOBOU JM OPVT GBVU OPVT SÂ©PSJFOUFS TVS EFT CBTFT TBJOFT BWFD EFT QSJY FO SBQQPSU BWFD MFT Ã½VWSFT { *M FO SÂ©TVMUF VOF SÂ©IBCJMJUBUJPO EF MB MFO UFVS -FT DPMMFDUJPOOFVST QSFOOFOU EF OPV WFBV MF UFNQT EF SÂ©GMÂ©DIJS 1MVT QFSTPOOF OF DPVSU QPVS ÂªUSF MF QSFNJFS TVS MFT MJTUFT EF SÂ©TFSWBUJPO k -FT HFOT TF TPOU MBTTÂ©T EFT TDVMQUVSFT HPOGMBCMFT EÑ³VO 5BLBTIJ .VSBLBNJ PV EÑ³VO %BNJFO )JSTU *MT TPOU FO EFNBOEF EF USBWBVY EF MB HÂ©OÂ©SBUJPO NPO UBOUF RVJ SBDPOUFOU VOF IJTUPJSF FU DPÂ»UFOU EPMMBST QBT VO NJMMJPO { SÂ©TVNF VOF KFVOF BSUJTUF PDDVQÂ©F Â SFHBSEFS VOF HSBOEF UBQJTTFSJF EF (SBZTPO 1FSSZ 5JUVMBJSF EV 5VSOFS DF EFSOJFS TÑ³FTU NPRVÂ© SÂ©DFN NFOU EÑ³VOF DMJFOUÂ¨MF BWJEF EF QSPGJU EPOU MF DPNQPSUFNFOU B DSÂ©Â© VO Â©UBU EF TVSDIBVGGF EV NBSDIÂ© k &TQÂ©SPOT RVÑ³Â MÑ³BWFOJS MB WBMP SJTBUJPO EFT Ã½VWSFT EÂ©QFOESB Â OPVWFBV #.8.BHB[JOF

#"-%&44"3* &5 %&4 $"34 &/5*&34 %& '3"/Â&#x2021;"*4 '3*&;& "35 " -" 3Â&#x2030;165"5*0/ *.1":"#-& %& $0/53*#6&3 Â&#x20AC; 76-("3*4&3 -Ñ³"35 4"/4 13Â&#x2030;5&/5*0/

+PIO #BMEFTTBSJ TPO TUBUVU EÑ³JDÂ´OF MÂ©HFOEBJSF EF MÑ³BSU EÑ³BWBOU HBSEF OF MÑ³B QBT FNQÂªDIÂ© EF GBJSF MF WPZBHF EF -POESFT QPVS BTTJTUFS FO QFSTPOOF Â 'SJF[F "SU *DJ MÑ³BSUJTUF DBMJGPSOJFO Â DÂ´UÂ© EF MÑ³VOF EF TFT DSÂ©BUJPOT JOUJUVMÂ©F #FFUIPWFOÑ³T 5SVNQFU XJUI FBS 0QVT

#.8.BHB[JOF

EBWBOUBHF EF MÑ³BWJT EFT WSBJT BNBUFVST RVF EV TFVM QPVWPJS EÑ³BDIBU EFT PMJHBSRVFT SVTTFT { 0O SBQQPSUF RVF MÑ³VO EÑ³FOUSF FVY FU OPO EFT NPJOESFT QVJTRVÑ³JM TÑ³BHJU EF 3PNBO "CSBNPWJUDI B EÂ©CPVSTÂ© MB CBHBUFMMF EF NJMMJPOT EF EPMMBST QPVS VO 'SBODJT #BDPO k 4Ñ³JM WPVT QMBÂ®U NPOTJFVS OF QBZF[ QBT QMVT EF EPMMBST { TÑ³FOUFOE EJSF Â 'SJF[F "SU MF NJMMJBS EBJSF UPNCÂ© FO BSSÂªU EFWBOU VOF JOTDSJQUJPO BV OÂ©PO EF +POBUIBO .POL $F HBH GBÂ§PO BSU QFSGPSNBODF WB UPVU Â GBJU EBOT MF TFOT EF MB EJSFDUSJDF EV TBMPO "NBOEB 4IBSQ k /PVT BWPOT JOTUJUVÂ© DF TBMPO EBOT MÑ³FTQPJS EÑ³JO UFSQFMMFS EFT DPMMFDUJPOOFVST TÂ©SJFVY RVJ TÑ³JOUÂ©SFT TFOU Â MB QSPEVDUJPO DVMUVSFMMF BDUVFMMF EÑ³VOF NBOJÂ¨SF DPOTDJFOUF FU SÂ©GMÂ©DIJF { FYQMJRVF U FMMF EÑ³VOF WPJY QPTÂ©F NBJT EÂ©DJEÂ©F %Â¨T MF EÂ©CVU MF QSPKFU B EÂ©HBHÂ© VOF EPVCMF JNQSFTTJPO EF SVHPTJUÂ© QBS SBQQPSU Â MÑ³BU NPTQIÂ¨SF QMVT DPTTVF EÑ³"SU $PMPHOF FU EF SJHVFVS DPODFQUVFMMF FO DPOUSBTUF BWFD MÑ³BNCJBODF DBSOBWB MFTRVF EÑ³"SU #BTFM Â .JBNJ *M Z B EFT EÂ©CBUT TVS MÑ³BSU FU EFT TUBOET PÂ¹ MÑ³PO QFVU FO Â©DIBOHF EÑ³VOF TPNNF NPEJRVF TF DPOGFDUJPOOFS TPJ NÂªNF MB SFQSPEVD UJPO EÑ³VOF Ã½VWSF IPST EF QSJY 0O EJSBJU RVF UPVU FTU GBJU QPVS FGGBDFS MB NPJOESF USBDF EF WÂ©OBMJUÂ© -FT HBMFSJTUFT DBVUJPOOFOU DFUUF BQQSPDIF BMUFSOBUJWF FO BQQPSUBOU EFT Ã½VWSFT WFOEBCMFT DFSUFT NBJT BVTTJ JOTPMJUFT "V TUBOE EF MB HBMFSJF 4QSÂ¼UI .BHFST MF WJTJUFVS EPJU TF DPMMFS BV NVS QPVS FOUFOESF TÑ³Â©HSBJOFS EÑ³VOF PSFJMMF HÂ©BOUF MFT OPUFT EV EFSOJFS RVBUVPS Â DPSEFT EF #FFUIPWFO $FUUF Ã½VWSF EÑ³VO NPOUBOU EF EPMMBST QPSUF MB HSJGGF EF MÑ³VOF EFT TUBST EF MÑ³BSU EÑ³BWBOU HBSEF +PIO #BMEFTTBSJ BOT $PNQBSÂ© Â MB WJUFTTF BWFD MBRVFMMF MFT HFTUJPO OBJSFT EF IFEHF GVOET EF DFT EFSOJÂ¨SFT BOOÂ©FT SBGMBJFOU UPVU DF RVJ MFVS UPNCBJU TPVT MB NBJO EÑ³"O ESFBT (VSTLZ Â 3JDIBSE 1SJODF MFT k DPVSTFT { EF

7BMFSJB /BQPMFPOF VOF DPMMFDUJPO OFVTF QSJWÂ©F USÂ¨T DPUÂ©F TFNCMFOU TF EÂ©SPVMFS BV SBMFOUJ k -Ñ³BSU DPNNF TJNQMF QMBDFNFOU OF NÑ³JOUÂ©SFTTF BCTP MVNFOU QBT EJU FMMF +F OF TVJT QBT EV UPVU EV HFOSF Â BDIFUFS TVS VO DPVQ EF UÂªUF FU KF QSFOET UPVKPVST NPO UFNQT Â 'SJF[F "SU { $SJUJRVFT FU KPVSOBMJTUFT DPOTJEÂ¨ SFOU MB 'SJF[F "SU BWBOU UPVU DPNNF VO CBSPNÂÜSF EFT OPVWFMMFT PSJFOUB UJPOT EV NBSDIÂ© 4BSBI 5IPSOUPO RVJ Â©DSJU TVS MÑ³BSU EBOT 5IF &DPOPNJTU TÑ³FTU QPTUÂ©F EFWBOU VOF TÂ©SJF EF UBCMFBVY BVY DPVMFVST GMVP k 1FUFS )BMMFZ Â©UBJU VOF EFT WFEFUUFT EV EFSOJFS CPVN EFT BOOÂ©FT +F NÑ³Â©UPOOF EF MF SFUSPV WFS JDJ NÂªNF TÑ³JM FTU CJFO DBDIÂ© { 1BT NPZFO FO SFWBODIF EF QBTTFS Â DÂÚÂ© EF MÑ³IPNNBHF FO CSPO[F RVF 1BVM .D$BSUIZ B SFOEV Â )FOSZ .PPSF EBOT MF QBSD Â TDVMQUVSFT KVTUF Â DÂÚÂ© EV DIBQJUFBV BCSJUBOU MF TBMPO k 0O QFVU MÑ³BDIFUFS { EFNBOEF VOF KFVOF "NÂ©SJDBJOF MÑ³JOEFY QPJOUÂ© WFST VO UBCMFBV EF 4JHNBS 1PMLF %BOT MF DBESF QMVT HVJOEÂ© EF "SU #BTFM PO SÂ©QPOESBJU Â DFUUF RVFTUJPO OBÂ¯WF BV NJFVY QBS VO TJMFODF QPMJ Â&#x20AC; 'SJF[F "SU FO SFWBODIF PO TF GBJU VO QPJOU EÑ³IPO OFVS EÑ³BDDVFJMMJS MFT OÂ©PQIZUFT EF MFT Â©DPVUFS FU EF MFT JOJUJFS "JOTJ TF NÂªMF BVY DPMMFDUJPOOFVST VOF GPVMF EF OPWJDFT RVJ FODPNCSF MFT BMMÂ©FT EV TBMPO TBOT HSPTTJS EÑ³VO TFVM QPVS DFOU MF DIJGGSF EÑ³BGGBJSFT EFT FYQPTBOUT NBJT DPOGÂ¨SF Â DF TBMPO MB SÂ©QVUBUJPO EF DPOUSJCVFS Â QPQVMBSJTFS MB DPOOBJTTBODF EF MÑ³BSU *MT TF EÂ©WFSTFOU QBS DBST FOUJFST UPVSJTUFT GSBOÂ§BJT Â©DPMJFST EF #SJHIUPO PV QFJOUSFT BNBUFVST NVOJDIPJT -FT HBMFSJTUFT KPVFOU MF KFV RVJUUF Â BUUSB QFS EFT DSBNQFT EÑ³FTUPNBD MPSTRVÑ³VO BEP PVWSF TB CPÂ®UF EF DPDB EFWBOU EFT DÂ©SBNJRVFT EF 3BDIFM ,OFFCPOF PV RVÑ³VO QFJOUSF BNBUFVS TÑ³BQQMJRVF VOF EFNJ IFVSF EVSBOU Â SFQSPEVJSF VO OV EF (FPSHF $POEP CBSSBOU BJOTJ MB WVF BVY BDIFUFVST QPUFOUJFMT k 7PVT NF EFNBOEF[ TJ MF 4JHNBS 1PMLF FTU Â WFOESF .BJT BCTPMVNFOU 1PVS EFVY NJMMJPOT EÑ³FVSPT { SÂ©QPOE MF HBMFSJTUF DPSEJBMFNFOU FU TBOT VOF QPJOUF EÑ³JSPOJF EBOT MB WPJY XXX GSJF[F DPN

****Superior

ROMANTIK HOTEL OBERWIRT Situé sur un versant ensoleillé au-dessus de Merano, le RomanƟk Hotel Oberwirt est le lieu de rencontre des personnes appréciant la vie et de celles qui souhaitent vivre une expérience parƟculière. Une cuisine connue pour saƟsfaire les gourmets, avec une fantasƟque carte des vins, un sommelier conseillant ses hôtes de manière avisée, «Amadea» - un espace consacré au bien-être – et la joie d’être confié aux bons soins de la famille Waldner. SHORT ROMANTIC DAYS À L’HÔTEL OBERWIRT • 3 ou 4 nuits avec peƟt-déjeuner dans une chambre double • Demi-pension gourmet • 1 massage corporel parƟel par personne En CD pour 3 nuits à parƟr de 389 €/personne En CD pour 4 nuits à parƟr de 499 €/personne RomanƟk Hotel Oberwirt**** SUPERIOR I-39020 Marling bei Meran · TYROL DU SUD Tél. +39 04 73 22 20 20 - Fax +39 04 73 44 71 30 www.oberwirt.com - info@oberwirt.com

****Superior

PARC HOTEL DU LAC DE CALDARO Membre de la Leading Wellnesshotels Belvita SüdƟrol

Un paradis sur terre… L’emplacement privilégié, sur les rives du lac de baignade aux eaux les plus chaudes des Alpes (jusqu’à 29°C), est déjà un luxe à lui tout seul. PeƟt-déjeuner Vital sur la terrasse ensoleillée, une ambiance méditerranéenne et les plaisirs du Tyrol du sud. Soins de beauté Gertraud Gruber, !QMS AnƟ Aging, Ayurveda, Piroche et Vitalis. RéducƟons allant jusqu’à 30% pour les green fees. VOTRE BONUS BMW pour une réservaƟon d’une semaine: 1 massage à l’huile aromaƟque par personne

Une oﬀre printanière pour votre bien-être…

ROMANTIK HOTEL TURM

4 nuits avec demi-pension gourmet, 1 randonnée en groupe, 1 bain Vital, 1 massage bien-être, 1 kit de soins à uƟliser chez soi, 1 solarium 10. 05. - 13. 06. 10 par hôte En CD avec vue sur le lac à parƟr de 690 € En CD sans vue sur le lac, à parƟr de 570 €

Le RomanƟk Hotel Turm dans le Tyrol du sud: des voûtes anciennes et des suites luxueuses. Une cuisine et une cave pour saƟsfaire tous les désirs et un espace bien-être extraordinaire consacré à la détente. Doté de toutes les commodités. Ici, le temps passe rapidement ou suspend son vol. L’alliance réussie de l’hospitalité tradiƟonnelle du Tyrol du sud, d’un charme internaƟonal et d’un design moderne fait de l’hôtel Turm un endroit incomparable. Le restaurant a été sélecƟonné parmi les cinq meilleurs hôtels-restaurants d’Italie (14 points au Gault Millau). Les amateurs de vins pourront également vivre une expérience parƟculière en dégustant de succulents vins italiens et locaux dans la cave taillée à même le roc. RomanƟk Hotel Turm**** SUPERIOR I-39050 Völs am Schlern – TYROL DU SUD Tél. +39 04 71 72 50 14 - Fax +39 04 71 72 54 74 www.hotelturm.it - info@hotelturm.it

Parc Hotel du lac de Caldaro *** SUPERIOR I-39052 Kaltern am See – Klughammer - TYROL DU SUD Tél. +39 0471 960 000 - Fax +39 0471 960 206 www.parchotel.cc - info@parchotel.cc

www.feldkircher-medienpartner.com / Layout: www.werbung-genes.com

****Superior

UN PRINTEMPS AU BORD DU LAC

1PVS TFT EÂ©HVJTFNFOUT %BOOZ $IPP DZCFS FOUSF QSFOFVS FU k BOJNF { QIJMF BOJNF QSPO BOJNÂ© GJMNT EÑ³BOJNBUJPO KBQPOBJT TÑ³JOTQJSF FOUSF BVUSFT EFT IÂ©SPT EF MB (VFSSF EFT Â©UPJMFT

4JÂ¨HF EF MB CSBTTFSJF "TBIJ EBOT MF RVBSUJFS EÑ³"TBLVTB -B k NPVTTF { CMPOEF QPSUF MB TJHOBUVSF EV EFTJHOFS 1IJMJQQF 4UBSDL &O BSSJÂ¨SF QMBO TF ESFTTF MB QMVT IBVUF UPVS EF UÂ©MÂ©WJTJPO EV NPOEF CBQUJTÂ©F k BSCSF EV DJFM { 5PLZP 4LZ 5SFF

#.8.BHB[JOF

50,:0

5FYUF 3 0 - " / % ) " ( & / # & 3 ( 1IPUPT 4 & # " 4 5 * " / . " : & 3

#JFOWFOVF EBOT VO NPOEF Â QBSU JOPOEÂ© EF MVNJÂ¨SFT FU EF NFTTBHFT QVCMJDJUBJSFT 6OF HJHBOUFTRVF NÂ©HBQPMF MBCPSBUPJSF EF NJM MJPOT EÑ³IBCJUBOUT FO QFSNBOFOUF Â©WPMVUJPO PÂ¹ TF DPODPDUFOU MFT UFOEBODFT QMBOÂ©UBJSFT EF EFNBJO 6O 0DDJEFOUBM TÂ©KPVSOF FO NPZFOOF EF USPJT Â RVBUSF KPVST Â 5PLZP .BJT TVCKFDUJWFNFOU MF UFNQT Â©DPVMÂ© TF DPNQUFSBJU QMVUÂ´U FO TFNBJOFT Â©UBOU EPOOÂ© MÑ³BGGMVY EFT JNQSFTTJPOT FU EFT DPOUSBTUFT Â EJHÂ©SFS k *DJ PO B Â©SJHÂ© MF NBSLFUJOH FO VOF WÂ©SJUBCMF GPSNF EÑ³BSU EPOU MF SFTUF EV NPOEF B CFBVDPVQ Â BQQSFOESF { OPVT FYQMJRVF 4WFO ,JMJBO GPOEBUFVS EF $ 4DPVU +BQBO VOF TPDJÂ©UÂ© EF DPOTFJM FU EF NBSLFUJOH EPNJDJMJÂ©F Â 5PLZP k -FT NFTTBHFT QVCMJDJUBJSFT DMJHOPUFOU QBS GBÂ§BEFT FOUJÂ¨SFT TVS EÑ³JNNFOTFT Â©DSBOT %&- PV TF SÂ©QBOEFOU BV USBWFST EFT IBVU QBSMFVST " 5PLZP MF NPJOESF DFO UJNÂ¨USF DBSSÂ© EJTQPOJCMF FTU VO FTQBDF QVCMJDJUBJSF FO QVJTTBODF { " TPO BSSJWÂ©F MF WJTJUFVS FTU EÑ³BCPSE GSBQQÂ© QBS VOF TFO TBUJPO EF GBNJMJBSJUÂ© EVF Â MB QSÂ©TFODF EF OPNCSFVY BTQFDUT EV NPEF EF WJF PDDJEFOUBM +PVSOBVY FU NBHB [JOFT QBS FYFNQMF BGGFDUJPOOFOU MFT UJUSFT FO BOHMBJT k /Ñ³BMMF[ QBT FO EÂ©EVJSF MF TJHOF EÑ³VOF RVFMDPORVF QSP NJTDVJUÂ© DVMUVSFMMF FYQMJRVF ,JMJBO 6O IPNNF EÑ³BGGBJSFT PDDJEFOUBM OF EPJU QBT TF EJSF RVF UPVU MF NPOEF WB BVUP NBUJRVFNFOU TÑ³JOUÂ©SFTTFS Â TFT JEÂ©FT FU RVÑ³JM OÑ³B RVÑ³Â UÂ©MÂ©QIPOFS BVY FOUSFQSJTFT DPODFSOÂ©FT QBS TPO QSP EVJU { -B QSJTF EF DPOUBDU EVSF TPVWFOU EFT TFNBJOFT

#.8 -J EFWBOU MB CPVUJRVF 1SBEB EF MÑ³0NPUFTBOEP MFT $IBNQT Ã&#x201D;MZTÂ©FT EF 5PLZP

-Ñ³0#4&44*0/ %& -" 1&3'&$5*0/ -F DFOUSF WJMMF EF 5PLZP FTU EJWJTÂ© FO BSSPOEJTTF NFOUT .BMHSÂ© VOF EFOTJUÂ© EF QMVT EF IBCJUBOUT QBS LNr Â DFSUBJOT FOESPJUT MFT 5PLZPÂ¯UFT DPOTJEÂ¨SFOU DIBRVF RVBSUJFS DPNNF VO WJMMBHF EBOT MB WJMMF BWFD HSBUUF DJFM CPVUJRVFT k UFOEBODF { EÂ©CJUT EF CPJTTPO NFVCMÂ©T EF UBCPVSFUT FU TUBOET TFSWBOU EF MB TPVQF BVY #.8.BHB[JOF

)FVSFT TVQQMÂ© NFOUBJSFT UPVT MFT KPVST JM FTU IFVSFT FU MB SÂ©VOJPO OÑ³FTU UPVKPVST QBT GJOJF EBOT DF HSBUUF DJFM EF 4IJPEPNF

-F DFOUSF EFT DPOHSÂ¨T Ñ 5PLZP *OUFSOBUJPOBM 'PSVN Ñ QSÂ¨T EV RVBSUJFS DIJD EF (JO[B

OPVJMMFT 4BOT PVCMJFS MFT TBODUVBJSFT FU UFN QMFT JNNÂ©NPSJBVY RVJ JMMVTUSFOU CJFO MB TQÂ©DJGJ DJUÂ© EF 5PLZP Â&#x20AC; MB TVSGBDF UPVU TF USBOTGPSNF FO QFSNBOFODF NBJT Â MÑ³JOUÂ©SJFVS MFT WBMFVST USBEJUJPOOFMMFT SFTUFOU JNNVBCMFT &O TFSB U JM UPVKPVST BJOTJ EBOT BOT k 5SÂ¨T DFSUBJOF NFOU { BGGJSNF (SFHPS "OESÂ©FXJUDI EJSFDUFVS HÂ©OÂ©SBM EV $POSBE VO IÂ´UFM EF MVYF k -Ñ³BVUP EJTDJQMJOF FU MÑ³PCTFTTJPO EF MB QFSGFDUJPO TPOU UFMMFNFOU BODSÂ©FT EBOT MB NFOUBMJUÂ© KBQPOBJTF RVF KF OF DSPJT QBT Â VOF EJMVUJPO EFT WBMFVST USBEJUJPOOFMMFT *M OÑ³Z B SJFO EF QMVT UFSSJGJBOU QPVS VO +BQPOBJT RVF EÑ³ÂªUSF DPOGSPOUÂ© Â VOF TJUVBUJPO JNQSÂ©WVF 5PVU FTU EPOD QMBOJGJÂ© KVTRVF EBOT MFT NPJOESFT EÂ©UBJMT { -& 1"3"%*4 %&4 %Â&#x2030;5&$5&634 %& 5&/%"/$& $IBRVF RVBSUJFS EF 5PLZP QSÂ©TFOUF VO DPOUPVS JEFOUJUBJSF DMBJSFNFOU EÂ©GJOJ 4IJ CVZB QBS FYFNQMF FTU TVSUPVU QFVQMÂ© EF KFVOFT BEVMUFT EF Â BOT RVJ QBTTFOU MFVST OVJUT FO EJTDPUIÂ¨RVF FU TÑ³IBCJMMFOU Â MB #.8.BHB[JOF

EFSOJÂ¨SF NPEF )BSBKVLV FTU MB UFSSF EÑ³Â©MFD UJPO EFT BEPT RVJ WJFOOFOU EÂ©QFOTFS JDJ MFVS BSHFOU EF QPDIF Â (JO[B DF TPOU QMVUÂ´U MFT DJORVBOUFOBJSFT DPTTVT FU DPOTFSWBUFVST Â "TBLVTB MFT SFUSBJUÂ©T FU MFT QMBOUFVST EF SJ[ FO WJTJUF Â 5PLZP QPVS MB QSFNJÂ¨SF GPJT FUD k -FT EÂ©WFMPQQFVST EF QSPEVJUT FU BVUSFT EÂ©UFDUFVST EF UFOEBODFT DPNNF NPJ OF QPVWBJFOU QBT SÂªWFS NJFVY RVÑ³VO EÂ©DPVQBHF DPNNF DFMVJ DJ { FYQMJRVF %BOOZ $IPP BOT GJMT EV DÂ©MÂ¨CSF DIBVTTFVS +JNNZ $IPP k 6OF EFNJ KPVSOÂ©F EÑ³PCTFSWBUJPO QPTUÂ© Â VO DPJO EF SVF TVGGJU QPVS TF GBJSF VOF JEÂ©F BTTF[ QSÂ©DJTF EFT FTQPJST EFT BUUFOUFT FU EFT SÂªWFT EF TPO HSPVQF DJCMF Â&#x20AC; -POESFT JM GBVU EFT TFNBJOFT { '"/4 %& ."/("4 -F RVBSUJFS EÑ³"LJIBCBSB FTU DFMVJ EFT GBOT EÑ³JOGPSNBUJRVF FU EF NBOHBT %F OPNCSFVY +BQPOBJT KFVOFT PV NPJOT KFVOFT DPMMFD UJPOOFOU EÑ³BJMMFVST BWFD GFSWFVS MFT GJHVSJOFT NBOHBT DPSSFTQPOEBOUFT k $FMB OÑ³B SJFO EF

QVÂ©SJM FYQMJRVF $IPP 5PVT MFT +BQPOBJT POU HSBOEJ BWFD EFT IÂ©SPT EF #% (SÂ¢DF BVY GJHV SJOFT JMT QFVWFOU QFSQÂ©UVFS DFUUF SFMBUJPO Â MÑ³Â¢HF BEVMUF { &O PVUSF MF GBJU EÑ³BWPJS EÂ¨T MF QMVT KFVOF Â¢HF DÂ´UPZÂ© MÑ³VOJWFST IBVUFNFOU UFDIOJDJTÂ© EFT GJMNT EÑ³BOJNBUJPO FU EFT #% EF TDJFODF GJDUJPO B DPOUSJCVÂ© Â GBJSF OBÂ®USF DIF[ MFT +BQPOBJT VO EFHSÂ© EÑ³PVWFSUVSF BVY OPVWFMMFT UFDIOPMPHJFT CJFO TVQÂ©SJFVS Â DFMVJ EFT &VSPQÂ©FOT PV EFT "NÂ©SJDBJOT Â&#x20AC; UFMMF FOTFJHOF RVF MÑ³JEÂ©F EÑ³BWPJS BGGBJSF Â VO SPCPU QBSMBOU Â MÑ³IÂ´QJUBM FTU EFQVJT MPOHUFNQT BDDFQUÂ©F DPNNF VOF Â©WPMVUJPO OPSNBMF -F TIJOUPÂ¯TNF OF QSPQBHF U JM QBT RVF UPVUF DIPTF B VOF Â¢NF 4J MFT DIVUFT EÑ³FBV MFT BSCSFT MFT NBJTPOT FO TPOU EPUÂ©FT BMPST QPVSRVPJ QBT MFT SPCPUT FU MFT GJHVSJOFT FO NBUJÂ¨SF QMBTUJRVF 6/ 63#"/*4.& Â&#x20AC; 7*4"(& )6."*/ $Ñ³FTU Â 4IJOKVLV RVF MFT KPVSOBMJTUFT WJFO OFOU GJMNFS MB TLZMJOF RVJ TFSWJSB Â JMMVTUSFS MFVST SFQPSUBHFT TVS 5PLZP 0O Z EJTUJOHVF

OPUBNNFOU MFT DPMPTTFT NPOPMJUIJRVFT EV GMFVSPO EF MÑ³BSDIJUFDUVSF KBQPOBJTF DPOUFN QPSBJOF ,FO[P 5BOHF 0V FODPSF MB 4IJOKVLV 1BSL 5PXFS PÂ¹ B Â©UÂ© UPVSOÂ© MF GJMN DVMUF EF 4PGJB $PQQPMB Ñ²-PTU JO 5SBOTMBUJPOÑ³ .BJT EFQVJT MÑ³BO PO BTTJTUF Â VO EÂ©CVU EF SFWJSFNFOU EF UFOEBODF MF UPVU CÂ©UPO QSP GFTTÂ© QBS 5BEBP "OEP GBJU QMBDF Â EFT DPOTUSVDUJPOT QMVT MÂ©HÂ¨SFT FU BÂ©SÂ©FT 1PVS /PSJUBLB 5BOHF MF GJMT EV DÂ©MÂ¨CSF BSDIJUFDUF 5PLZP EPJU DIBOHFS 6O QPJOU EF WVF RVJ QFVU Â©UPOOFS TJ MÑ³PO TPOHF RVF DFUUF WJMMF FTU FO EFWFOJS QFSNBOFOU .BJT 5BOHF KVOJPS FTU USÂ¨T TÂ©SJFVY JM TÑ³BHJU OJ QMVT OJ NPJOT EÑ³Â©WJUFS RVÑ³BV F TJÂ¨DMF 5PLZP OF TF WPJU SFMÂ©HVÂ© FO CBT EF DMBTTFNFOU BV QBMNB SÂ¨T EF MB DPNQÂ©UJUJPO JOUFSBTJBUJRVF k /PVT QPTTÂ©EPOT EF OPNCSFVY BUPVUT QFV EF EÂ©MJORVBODF VSCBJOF EFT DZDMFT EÑ³JOOPWBUJPO IZQFS SBQJEFT PV FODPSF MÑ³PNOJQSÂ©TFODF EFT UFDIOPMPHJFT EF QPJOUF .BJT JM OPVT GBVU VO VSCBOJTNF CFBVDPVQ QMVT BYÂ© TVS MB RVB MJUÂ© EF WJF VOF QSJPSJUÂ© RVJ OPVT B UPVKPVST GBJU

EÂ©GBVU { 5PLZP SFMÂ¨WF EÑ³PSFT FU EÂ©KÂ MF EÂ©GJ &YFNQMF MF DIBOUJFS EF MB QMVT HSBOEF UPVS EF UÂ©MÂ©WJTJPO EV NPOEF Â "TBLVTB -B UPVS CBQUJTÂ©F 5PLZP 4LZ 5SFF TFSB UFSNJOÂ©F GJO FU DVMNJOFSB Â NÂ¨USFT -Ñ³FOUSÂ©F FO TFSWJDF EF MÑ³Â©NFUUFVS TÑ³BDDPNQBHOFSB EÑ³VO SÂ©BNÂ©OBHFNFOU EFT BMFOUPVST FOHMPCBOU MB DSÂ©BUJPO EF QBSDT EF DPNQMFYFT TQPSUJGT FU EÑ³IBCJUBUJPOT QMVT TQBDJFVTFT 6/ -69& 3&410/4"#-& 1PVS 5BNJLP )BZBTIJ FU 4VTBO 3PHFST $IJLVCB FYQFSUFT FO SFMBUJPOT QVCMJRVFT k MFT +BQPOBJT WFVMFOU UPVKPVST MF NFJMMFVS DF RVJ MFT BNÂ¨OF Â EÂ©GJOJS QPVS BJOTJ EJSF VOF OPSNF JOUFSOBUJPOBMF EV MVYF .BJT OPVT EFWSJPOT BVTTJ OPVT EFNBOEFS EÑ³PÂ¹ WJFOOFOU MFT QSPEVJUT DPNNFOU JMT TPOU GBCSJRVÂ©T FU DPNNFOU PSHBOJTFS MFVS SFDZDMBHF Â©WFOUVFM $POTPNNFS EF NBOJÂ¨SF SFTQPOTBCMF OF TJHOJGJF QBT SFOPODFS BV MVYF FU Â MB RVBMJUÂ© "V DPOUSBJSF DÑ³FTU DFMB MF WSBJ MVYF OPVWFMMF NBOJÂ¨SF {

4WFO ,JMJBO DPOTFJMMFS FO NBSLFUJOH EFWBOU MB UPVS EF UÂ©MÂ©WJTJPO 5PLZP 4LZ 5SFF k *DJ PO B Â©SJHÂ© MF NBSLFUJOH FO VOF WÂ©SJUBCMF GPSNF EÑ³BSU {

#.8.BHB[JOF

#.8 -J

$BSBDU©SJTUJRVFT UFDIOJRVFT /PNCSF EF DZMJOESFT

$ZMJOES©F FO DN

1VJTTBODF DI L8

$PVQMF NBYJ FO /N

7JUFTTF NBYJ FO LN I TVS DJSDVJU

LN I FO T

6OF #.8 4©SJF TVS MF 3BJOCPX #SJEHF SFMJBOU 5PLZP Mѳ®MF BSUJGJDJFMMF Eѳ0EBJCB BWFD TFT JNNFVCMFT EF CVSFBVY TFT HSBOET NBHBTJOT FU TB QMBHF QPVS TVSGFVST

#POOFT BESFTTFT )´UFMT $POSBE )PUFM

BWFD QPVS TF SFTUBVSFS VO DIPJY EF QMBUT EF MB DVJTJOF GVTJPOOFMMF BTJBUJRVF

)JHBTIJ 4IJOCBTIJ .JOBUP LV 5IF 1FBL -PVOHF FU

IUUQ DPOSBEIPUFMT IJMUPO DPN

/FX :PSL (SJMM 1BSL )ZBUU /JTIJ 4IJOKVLV

4IJCVZB &YDFM )PUFM 5PLZV 4IJCVZB .BSL $JUZ #VJMEJOH

,BNJNFHVSP .FHVSP LV 5©M

5©M

.PEFSOJTNF KBQPOBJT FU ©M©HBODF EJTDS¨UF -F IBMM EѳFOUS©F ѭ BV F ©UBHF ѭ BCSJUF VO CBS MPVOHF 7VF TVS MB CBJF EF 5PLZP FU MFT KBSEJOT )BNB 3JLZď *E©BM QPVS VO E®OFS JOUJNJTUF MB MVNJ¨SF CMFVF EFT MBNQFT EѳJOTQJSBUJPO DVCJTUF MF $IJOB #MVF

$FDJM #

5©M

$ѳFTU JDJ RVF DPNNFO§B MF GMJSU FOUSF 4DBSMFUU +PIBOTTPO FU #JMM .VSSBZ EBOT Ѳ-PTU JO 5SBOTMBUJPOѳ $PNNFODF[ QBS VO DPVDIFS EF TPMFJM BSSPT© EѳVO UI© MB DJUSPOOFMMF BV F ©UBHF 1FBL -PVOHF QVJT NPOUF[ E®OFS BV /FX :PSL (SJMM FO ©DPVUBOU EF MB NVTJRVF EF KB[[ MJWF

%PHFO[BLB 4IJCVZB

4ѳJMT OF USPVWFOU QMVT EF QMBDF 4IJCVZB PV )BSBKVLV MFT FOUSFQSFOFVST FO IFSCF PVWSFOU MFVST CPVUJRVFT PV CBST /BLBNFHVSP &U QPVS E©DPNQSFTTFS JMT TF SFUSPVWFOU EBOT MB Q©OPNCSF EV $FDJM # TJSPUFS MFVST DPDLUBJMT BGGBM©T TVS EFT EJWBOT EFT TJYUJFT FO ©DPVUBOU VO BJS EF KB[[ $VMUVSF

5©M

.JEUPXO 3FTUBVSBOUT

4VQFS %FMVYF

XXX UPLZVIPUFMTKBQBO DPN

#PUBOJDB 5©M

# ' /JTIJ "[BCV

'VBO -POH :VFO

.JOBUP LV

5©M

6PTIJO /PHJTBLB

XXX TVQFS EFMVYF DPN

4ѳPVWSF EJSFDUFNFOU TVS 4IJCVZB $SPTTJOH MѳVO EFT DSPJTFNFOUT MFT QMVT BOJN©T EV NPOEF 1SBUJRVF QPVS E©DPVWSJS QJFE DF RVBSUJFS US©QJEBOU 3FTUBVSBOUT 8JSFE $BG© ,%%* %FTJHOJO 4UVEJP ' +JOHVNBF 4IJCVZB 5©M

-F H©BOU EF MB U©M©QIPOJF NPCJMF OJQQPO ,%%* B JOTUBVS© FOUSF MѳBSU¨SF NBSDIBOEF Eѳ0NPUFTBOEP FU MF RVBSUJFS EF )BSBKVLV QSJT© EFT BEPMFTDFOUT VO DFOUSF EF E©DPVWFSUF EFT JOOPWBUJPOT #.8.BHB[JOF

5©M XXX UPLZP NJEUPXO DPN FO XXX VPTIJOT DPN J TIPQ IUNM

*OBVHVS© JM Z B USPJT BOT MF DPNQMFYF EF .JEUPXO BCSJUF CPVUJRVFT FU SFTUBVSBOUT NBJT BVTTJ MF NVT©F 4BOUPSZ EF MѳBSDIJUFDUF WFEFUUF ,FOHP ,VNB $VJTJOF PDDJEFOUBMF EBOT MF DBESF ©M©HBOU EV #PUBOJDB EF 5FSFODF $POSBO FU HBTUSPOP NJF DIJOPJTF DMBTTJRVF BV 'VBO -POH :VFO .BJT QPVS TBWPJS DF RVF NBOHF .POTJFVS 5PVU MF .POEF SFOEF[ WPVT BV 6PTIJO /PHJ[BLB

/© EѳVOF JE©F Eѳ"TUSJE ,MFJO FU EF .BSL %ZUIBN DF DMVC I©CFSHF MFT 1FDIB ,VDIB /JHIUT BV DPVST EFTRVFMMFT EFT EFTJHOFST EPJWFOU MJNJUFS MFVS QS©TFOUBUJPO JNBHFT EF TFDPOEFT DIBDVOF

$POTPNNBUJPO M LN FO DZDMF NJYUF

NJTTJPOT EF $0 FO H LN FO DZDMF NJYUF

%JWFST

#BJO DIBVE .JOBNJ "PZBNB .JOBUP LV

%PO 2VJKPUF 3PQQPOHJ .JOBUP LV 5©M XXX EPOLJ DPN

5©M

0VWFSU I TVS DF NBHBTJO ѭ TVSOPNN© EPOLJ FTU VO W©SJUBCMF DBQIBSOB¼N P¹ UPVU TF CSBEF EFT BDDPVUSFNFOUT MFT QMVT DSJBSET BVY HBEHFUT ©MFDUSPOJRVFT EFSOJFS DSJ FO QBTTBOU QBS MFT QSPEVJUT BMJNFOUBJSFT MFT DSPRVFUUFT QPVS DIBUT MFT DPTN©UJRVFT FU BVUSFT CJDZDMFUUFT 5PLZP 4LZUSFF XXX UPLZP TLZUSFF KQ FOHMJTI

"SCSF EV DJFM EF 5PLZP DѳFTU MF TVSOPN EPOO© MB DPOTUSVDUJPO BQQFM©F EFWFOJS MB QMVT IBVUF UPVS EF U©M©WJTJPO EV NPOEF 4F WPJU MF NJFVY EFQVJT MB HBSF /BSJIJSBCBTIJ TVS MB MJHOF 5ùCV *TFTBLJ 0EBJCB FU 3BJOCPX #SJEHF

&OTFSS©F QBS MFT SBOH©FT EF HSBUUF DJFM MB MJHOF EJUF :VSJLBNPNF FTU EFTTFSWJF QBS VO USBJO TBOT DPOEVDUFVS DPNNBOE© QBS PSEJOBUFVS SBMMJBOU MB HBSF EF 4IJOCBTIJ Mѳ®MF BSUJGJDJFMMF Eѳ0EBJCB QSJT©F EFT QSPNFOFVST FU BNBUFVST EF TIPQQJOH

%F OPNCSFVY RVBSUJFST POU FODPSF MFVST CBJOT QVCMJDT USBEJUJPOOFMT TFOUù BWFD TBVOB 0O FO USPVWF NªNF VO PVWFSU KVTRVѳ NJOVJU TVS MB QSFTUJHJFVTF SVF DPNNFS§BOUF Eѳ0NPUFTBOEP 1BSBTJUFONVTFVN 4IJNPNFHVSP .FHVSP LV IUUQ LJTFJDIV PSH FOHMJTI BTQY

$ѳFTU TPVWFOU M RVF MFT HBS§POT FNNÖFOU MFVS QFUJUF BNJF RVBOE JMT TPSUFOU BWFD FMMF QPVS MB QSFNJ¨SF GPJT -F NVT©F DPNQUF QBT NPJOT EF FTQ¨DFT QBSBTJUBJSFT DPOTFSW©FT EBOT EV GPSNPM EPOU VO WFS TPMJUBJSF EF IVJU NÜSFT EF MPOH 5 TIJSUT FU QPSUF DM©T PSJHJOBVY FO WFOUF MB CPVUJRVF )ÚFM $BQTVMF ,BCVLJDIP 4IJOKVLV LV 5©M XXX IHQTIJOKVLV KQ

*OTPMJUF FU CPO NBSDI© DFU I©CFSHFNFOU EFTUJO© E©QBOOFS VO FNQMPZ© EF CVSFBV BZBOU SBU© TPO EFSOJFS N©USP BUUJSF EF QMVT FO QMVT EF UPVSJTUFT ©USBOHFST E©TJSFVY EF QBTTFS VOF OVJU EBOT VOF k DBQTVMF { FO QMBTUJRVF

.PSJ "SU .VTFVN 3PQQPOHJ )JMMT .PSJ 5PXFS G 3PQQPOHJ .JOBUP LV 5©M XXX NPSJ BSU NVTFVN FOH

-B QMVT IBVUF TBMMF EѳFYQPTJUJPO EV NPOEF EBOT MF RVBSUJFS EFT OPDUBNCVMFT EF 3PQQPOHJ

Tokyo

Baie de Tokyo

Tokyo

6OF CBMBEF HPVSNBOEF EBOT VO EÂ©DPS SBGê &#x2039; OÂ© %BOT MF IBVU EF MB WJMMF EF #SVYFMMFT DPOUJHV Â #.8 #SVTTFMT XXX CNXCSVTTFMT CF FOKPZ QSPQPTF EFT JOHSÂ©EJFOUT BVUIFOUJRVFT TÂ©MFDUJPOOÂ©T BWFD TPJO %FT EÂ©HVTUBUJPOT WBSJÂ©FT SÂ©WÂ¨MFOU MFT TBWFVST FU MF QBSGVN EFT NFUT 2VBMJUÂ© FU USBOTQBSFODF TPOU EF SJHVFVS *OTUBMMÂ©T BVY CBST FOUPVSBOU MB DVJTJOF WPVT EFWFOF[ MFT TQFDUBUFVST QSJWJMÂ©HJÂ©T EÑ³VOF DVJTJOF PVWFSUF BOJNÂ©F QBS MF $IFG FU TPO Â©RVJQF $Â´UÂ© EÂ©DPS MÑ³JOPY JMMVNJOF FU MF WFSSF TF NBSJF BWFD MF DBSCPOF MF DVJS FU MF CPJT QPVS WPVT TÂ©EVJSF

FOKPZ 3&45"63"/5

#% %& 8"5&3-00 #369&--&4 067&35 %6 -6/%* "6 4".&%* %& ) Â&#x20AC; )

W T

#.8.BHB[JOF

"6 $ 6 / & $ 0 . 1" 3 " * 4 0 / 1"3 3"11035 Â&#x20AC; -" #.8 UE -" /067&--& #.8 E "''*$)& 6/& 16*44"/$& &5 6/ $061-& %&69 '0*4 1-64 Â&#x2030;-Â&#x2030;7Â&#x2030;4 &5 " #&40*/ %& .0*5*Â&#x2030; .0*/4 %& 5&.14 1063 (3*.1&3 %& Â&#x20AC; ,. ) $&-" /& -Ñ³&.1Â&#x160;$)& 1"4 %& $0/40..&3 /&55&.&/5 .0*/4

#.8.BHB[JOF

"6$6/& $0.1"3"*40/

13Â&#x2C6;4 %& 530*4 %Â&#x2030;$&//*&4 "13Â&#x2C6;4 26& -" 13&.*Â&#x2C6;3& #.8 4Â&#x2030;3*& %*&4&- " &/5)064*"4.Â&#x2030; -& .0/%& %& -Ñ³"650.0#*-& 40/ )Â&#x2030;3*5*Â&#x2C6;3& -" #.8 E '*9& %& /067&--&4 3Â&#x2030;'Â&#x2030;3&/$&4 6/ .0%Â&#x2C6;-& 4&/*03 Â&#x2030;13067Â&#x2030; 3&/$0/53& 6/ %:/".*26& .0%Â&#x2C6;-& +6/*03 5FYUF .*$)"&- 4&*5;

6O TZNQBUIJRVF ZPVOHUJNFS SFO DPOUSF VOF TUBS NPEFSOF EF MB UFDIOJRVF MF NJMMÂ©TJNF WT MF NJMMÂ©TJNF 6OF DBSSPTTFSJF UPVU FO GJOFTTF BVY MJHOFT BOHVMFVTFT TF SFUSPVWF GBDF Â VOF FTUIÂ©UJRVF PVWFSUFNFOU BUIMÂ©UJRVF 7JOHU TFQU BOT TÂ©QBSFOU MFT EFVY NPEÂ¨MFT 3JFO RVF QBS TFT EJNFOTJPOT MÑ³BODJFO NPEÂ¨MF EPOOF MÑ³JNQSFTTJPO EF TF TJUVFS EFVY DBUÂ©HPSJFT BV EFTTPVT EF MB WFSTJPO DPOUFNQPSBJOF UE

$0.1"3"5*'

LN I

7*5&44& %& 10*/5&

LN I

TFD

"$$Â&#x2030;-Â&#x2030;3"5*0/

TFD

16*44"/$&

$061-&

MJUSFT

$0/40.."5*0/

MJUSFT

10*%4 Â&#x20AC; 7*%&

-POHVFVS MBSHFVS FU IBVUFVS BGGJDIFOU SFTQFDUJWFNFOU FU DFOUJNÂ¨USFT EF NPJOT *M QPVSSBJU TÑ³BHJS EÑ³VO EVFM EÂ©TÂ©RVJMJCSÂ© FOUSF VO WJHPVSFVY SFUSBJUÂ© FU TPO GPVHVFVY QFUJU GJMT UPVU FO NVTDMFT 2VJ OF TFSBJU UFOUÂ© QBS MÑ³PQQPS UVOJUÂ© EF SPVMFS FODPSF VOF GPJT DPNNF FO Â&#x20AC; DFUUF Â©QPRVF BMPST RVF 3POBME 3FBHBO Â©UBJU Â MB .BJTPO #MBODIF RVF MF GJMN (BOEIJ QBTTBJU TVS MFT Â©DSBOT #.8 WFOEBJU TB QSFNJÂ¨SF BVUPNPCJMF Â©RVJQÂ©F EÑ³VO NPUFVS EJFTFM -B #.8 UE SFNQPSUBJU VO TVDDÂ¨T QIÂ©OPNÂ©OBM -FT DMJFOUT

#.8.BHB[JOF

MFT FYQFSUT FU MFT QBTTJPOOÂ©T EF WPJUVSFT Â©UBJFOU FOUIPV TJBTNÂ©T QBS MF UVSCPEJFTFM EF TÂ©SJF MF QMVT SBQJEF EV NPOEF +VTRVÑ³Â DFUUF EBUF MF EJFTFM BWBJU Â©UÂ© TZOPOZNF EF NPUFVST TPMJEFT FU Â©DPOPNJRVFT EFTUJOÂ©T Â EFT BVUPNPCJMFT BYÂ©FT TVS MF DPOGPSU 2VBOU Â PGGSJS VOF DPOEVJUF TQPSUJWF DÑ³Â©UBJU UPVU CPOOFNFOU JNQFOTBCMF 4Ñ³BQQVZBOU TVS VOF OPVWFMMF UFDIOPMPHJF UFMMF RVF MF UVSCPDPNQSFTTFVS BWFD SFGSPJEJTTF NFOU EF MÑ³BJS EF TVSBMJNFOUBUJPO TVS VOF UFDIOJRVF EÑ³JOKFD UJPO NPEFSOF PV FODPSF TVS VO QSPDFTTVT EF DPNCVTUJPO PQUJNJTÂ© NFUUBOU FO Ã½VWSF EFT DIBNCSFT EF UVSCVMFODFT MFT JOHÂ©OJFVST NPUPSJTUFT EF #.8 POU BMPST EÂ©WFMPQQÂ© VO NPUFVS JOÂ©EJU $FT Â©WPMVUJPOT POU DBUBQVMUÂ© MF EJFTFM Â VO OPVWFBV OJWFBV &U BVKPVSEÑ³IVJ Â&#x2030;RVJQÂ© EÑ³VOF SBNQF DPNNVOF Â JOKFDUFVST QJÂ©[PÂ©MFD USJRVFT MF NPUFVS EF MB OPVWFMMF #.8 E QVMWÂ©SJTF EJSFD UFNFOU EBOT MFT DIBNCSFT EF DPNCVTUJPO EFT RVBOUJUÂ©T JOGJNFT EF DBSCVSBOU BWFD VOF QSFTTJPO QPVWBOU NPOUFS KVTRVÑ³Â CBST *M FTU BJOTJ QPTTJCMF EÑ³JOKFDUFS MÑ³Â©RVJWB MFOU EÑ³VOF EFNJ UÂªUF EÑ³Â©QJOHMF FO NJDSPTFDPOEFT $JOR JOKFDUJPOT QFVWFOU ÂªUSF PQÂ©SÂ©FT QBS UFNQT NPUFVS -B HFT UJPO NPUFVS OVNÂ©SJRVF DBMDVMF MF QPJOU EÑ³JOKFDUJPO QSÂ©DJT FU MF EPTBHF PQUJNBM -F TZTUÂ¨NF SFÂ§PJU KVTRVÑ³Â JOGPSNB UJPOT Â MB TFDPOEF FU MFT USBJUF TJNVMUBOÂ©NFOU FO NFUUBOU FO Ã½VWSF KVTRVÑ³Â TJY NJMMJPOT EÑ³PQÂ©SBUJPOT EF DBMDVM &O NÂªNF MFT JOHÂ©OJFVST EF MB /"4" OÑ³BVSBJFOU QBT PTÂ© SÂªWFS EF UFMMFT QPTTJCJMJUÂ©T $FUUF QVJTTBODF EF DBMDVM QSPGJUF OPO TFV MFNFOU BVY QFSGPSNBODFT EV NPUFVS NBJT MVJ QFSNFU BVTTJ EÑ³ÂªUSF QMVT Â©DPOPNF NPJOT QPMMVBOU FU QMVT TJMFODJFVY

-" #.8 UE %& 6O ZPVOHUJNFS BV DIBSNF DPTTV -Ñ³IBCJUBDMF FTU QSBUJRVF DMBJSFNFOU BHFODÂ© FU MVNJOFVY 4BOT GJPSJUVSFT -F WPMBOU MFT CPVUPOT FU MFT MFWJFST FYIBMFOU MF DIBSNF DPTTV EÑ³VO BSUJTBOBU GPODUJPOOFM 4Ñ³BKPVUFOU Â DFMB USPJT FYUSBT EF MÑ³Â©QPRVF EFT SÂ©USPWJTFVST Â SÂ©HMBHF Â©MFD USJRVF VO BVUPSBEJP BWFD MFDUFVS EF DBTTFUUFT FU QSFNJFS TJHOF EF NPEFSOJUÂ© VOF IPSMPHF OVNÂ©SJRVF BWFD BGGJDIBHF EF MB UFNQÂ©SBUVSF FYUÂ©SJFVSF -PSTRVF OPVT UPVSOPOT MB DMÂ© FODPSF VOF WSBJF DMÂ© MF TZNCPMF EF QSÂ©DIBVGGBHF PSBOHF PVCMJÂ© EFQVJT MPOHUFNQT BQQBSBÂ®U &U MPSTRVF MF NPUFVS FTU NJT FO NBSDIF JNQPTTJCMF EÑ³JHOPSFS Â QMVTJFVST NÂÜSFT Â MB SPOEF RVF DFUUF WPJUVSF SPVMF BV EJFTFM &MMF HSPOEF FU WJCSF -B DBSUF HSJTF BOOPODF EÂ©DJCFMT Â MÑ³BSSÂªU 1VJT OPVT QBTTPOT MB EFVYJÂ¨NF MB USPJTJÂ¨NF MB RVBUSJÂ¨NF WJUFTTF -B CPÂ®UF WJUFTTFT BMPST QSPQPTÂ©F EF TÂ©SJF TF SÂ©WÂ¨MF UPVKPVST Â MB IBVUFVS BVKPVSEÑ³IVJ FO UFSNFT EF QSÂ©DJTJPO FU EF WFMPVUÂ© .BJT BV CPVU EF RVFMRVFT LJMPNÂÜSFT DÑ³FTU QMVUÂÚ MB EÂ©TJMMVTJPO RVJ QSJNF .ÂªNF MFT OPTUBMHJRVFT OF QBSMFSBJFOU QMVT EÑ³BDDÂ©MÂ©SBUJPOT TQPSUJWFT OJ EF UFNQÂ©SB NFOU FOUIPVTJBTNBOU 1SÂ¨T EF TFDPOEFT QPVS HSJNQFS Â LN I VO DIJGGSF QFV FODPVSBHFBOU TVS MF QBQJFS FU EÂ©DPV SBHFBOU TVS MF CJUVNF 2VBOU BV USPV EV UVSCP RVF MÑ³PO BWBJU EFQVJT MPOHUFNQT PVCMJÂ© OPVT BWPOT JDJ Â OPVWFBV MÑ³PDDBTJPO EF MÑ³FYQÂ©SJNFOUFS Â&#x20AC; WJUFTTF NPEÂ©SÂ©F OPUSF ZPVOHUJNFS TF GPOE CJFO EBOT MB DJSDVMBUJPO Â&#x20AC; QMVT WJWF BMMVSF PO TF TFOU EÂ©KÂ NPJOT Â MÑ³BJTF /PVT OF WPVMPOT QBT QPVTTFS MB #.8 UE KVTRVÑ³Â MB WJUFTTF NBYJNBMF EF LN I EPOU FMMF TF UBSHVF /PVT OÑ³BWPOT QBT DPOGJBODF FO TFT QSPQSJÂ©UÂ©T BÂ©SPEZOB NJRVFT %BOT MFT BOOÂ©FT PO OF TF QSÂ©PDDVQBJU HVÂ¨SF EV DPFGGJDJFOU EF SÂ©TJTUBODF 0O WFJMMBJU UPVU BV QMVT Â Â©MJNJOFS MFT CSVJUT HÂªOBOUT -B WBMFVS $Y EF MB #.8 UE "VKPVSEÑ³IVJ #.8 EJTQPTF EF MÑ³VOF EFT TPVGGMFSJFT MFT QMVT HSBOEFT FU MFT QMVT NPEFSOFT EF MÑ³JOEVTUSJF BVUPNPCJMF DG Q -FT JOHÂ©OJFVST QFBVGJOFOU NÂªNF MÑ³BÂ©SPEZOBNJRVF EFT SÂ©USPWJTFVST FYUÂ©SJFVST EF MÑ³BOUFOOF FU EFT GFVY BSSJÂ¨SF &U EFT WPMFUT EÑ³BJS QJMPUÂ©T SÂ©EVJTFOU MB SÂ©TJTUBODF BV OJWFBV EV SBEJBUFVS -B WBMFVS $Y EF MB OPVWFMMF #.8 4Â©SJF -B OPVWFMMF #.8 E FTU VO QBUDIXPSL IJHI UFDI MFT QPSUJÂ¨SFT MF USBJO SPVMBOU FU MF CMPD NPUFVS TPOU FO BMVNJOJVN -FT EJGGÂ©SFOUFT UÂ´MFT EF MB DBSSPTTFSJF TPOU TPVEÂ©FT MFT VOFT BVY BVUSFT NBJT BVTTJ DPMMÂ©FT $FMB QFSNFU EF SÂ©EVJSF MF QPJET EV WÂ©IJDVMF UPVU FO BVHNFOUBOU TB SÂ©TJTUBODF -B DBSSPTTF SJF EF MB #.8 UE Â©UBJU RVBOU Â FMMF FODPSF DPOTUJUVÂ©F EF UÂ´MFT EÑ³BDJFS TPVEÂ©FT 4PO USBJO SPVMBOU Â©UBJU MVJ BVTTJ FO BDJFS UBOEJT RVF MF CMPD NPUFVS Â©UBJU FO GPOUF HSJTF 1PVSRVPJ MF OPVWFBV NPEÂ¨MF FTU JM NBMHSÂ© UPVU QMVT MPVSE 1BSDF RVÑ³JM FTU QMVT HSBOE FU QMVT TQBDJFVY 1BSDF RVF MB TÂ©DVSJUÂ© FU MF DPOGPSU POU Â©UÂ© DPOTJEÂ©SBCMFNFOU PQUJNJTÂ©T

&/ .Â&#x160;.& -&4 */(Â&#x2030;/*&634 %& -" /"4" /& %*4104"*&/5 1"4 %& -" 16*44"/$& %& $"-$6- %& -" (&45*0/ .05&63 %& -Ñ³"$56&--&

#.8 E

-Ñ³IBCJUBDMF EF MB #.8 E EF FTU NPEFSOF FU MVYVFVY CPJT QPMJT CPVUPOT FO BSHFOU NBU FU Â©DSBOT $PNNF EBOT MB #.8 UE MB DPOTPMF DFOUSBMF TÑ³JOGMÂ© DIJU WFST MF DPOEVDUFVS FU MFT BGGJDIBHFT EFT JOTUSVNFOUT DMBTTJRVFT TPOU UPVKPVST SÂ©USP Â©DMBJSÂ©T FO SPVHF PSBOHÂ© -Ñ³Â©RVJQFNFOU FTU JM QPVS BVUBOU GPODUJPOOFM FU NJOJNBMJTUF "VDVOFNFOU "VKPVSEÑ³IVJ EFT TFSWPNPUFVST EÂ©QMBDFOU BVUPNBUJRVFNFOU MF WPMBOU EFT DBQUFVST BDUJWFOU MÑ³Â©DMBJSBHF MPSTRVF MB OVJU UPNCF FU MFT FTTVJF HMBDFT MPSTRVÑ³JM QMFVU &O DBT EÑ³BDDJEFOU EÑ³BVUSFT DBQUFVST WFJMMFOU Â DF RVF MFT DFJOUVSFT TPJFOU CJFO UFOEVFT MFT OVRVFT CJFO NBJOUFOVFT FU MFT BJSCBHT EÂ©DMFODIÂ©T Â UFNQT VO TJHOBM EF EÂ©USFTTF Â©UBOU QBS BJMMFVST Â©NJT BVUPNBUJRVFNFOU 5PVT DFT TZT UÂ¨NFT EF TÂ©DVSJUÂ© TPOU EJTQPOJCMFT EF TÂ©SJF TVS MB OPVWFMMF #.8 4Â©SJF -B #.8 UE OF QSPQPTBJU FMMF RVÑ³VO TFVM BJSCBH DPOUSF TVQQMÂ©NFOU BJOTJ RVF MF TZTUÂ¨NF EÑ³BOUJ CMPDBHF "#4

#.8.BHB[JOF

-B QVJTTBODF EV NPUFVS EJFTFM TF NBOJGFTUF FO EPVDFVS EBOT MÑ³IBCJUBDMF BWFD VOF TPOPSJUÂ© QMVT NÂ©MPEJFVTF QMVT SBGGJOÂ©F FU QMVT EZOBNJRVF *M Z B VO BCÂ®NF FOUSF DFT EFVY NPUFVST Ñ TVS MF QBQJFS NBJT BVTTJ FU TVSUPVU TVS MB SPVUF

-" /067&--& #.8 E "''*$)& 6/& 16*44"/$& &5 6/ $061-& %&69 '0*4 1-64 Â&#x2030;-Â&#x2030;7Â&#x2030;4 &5 1"44& %& Â&#x20AC; &/ .0*5*Â&#x2030; .0*/4 %& 5&.14 2VBOE MÑ³BJHVJMMF GSÂ´MF MFT LN I PO OÑ³B QBT MFT NBJOT NPJUFT PO SFTUF EÂ©UFOEV -F SFTTFOUJ EF MB WJUFTTF OÑ³FTU QBT MF NÂªNF RVÑ³Â CPSE EF MB #.8 UE .BMHSÂ© TB QVJTTBODF MB #.8 E BGGJDIF VO OJWFBV EF DPOTPNNBUJPO FU EFT Â©NJTTJPOT SFNBSRVBCMFNFOU QFV Â©MFWÂ©T (SÂ¢DF BVY NFTVSFT #.8 &GGJDJFOU%ZOBNJDT TB DPOTPNNBUJPO OPSNBMJTÂ©F FTU EF MJUSFT CPÂ®UF BVUPNBUJRVF TPJU UPVU KVTUF EFVY MJUSFT EF NPJOT RVF MB #.8 UE QPVSUBOU OFUUFNFOU NPJOT QVJT TBOUF FU QMVT MÂ©HÂ¨SF $FUUF Â©WPMVUJPO FTU BVTTJ MF GBJU EF MB OPVWFMMF CPÂ®UF BVUPNBUJRVF SBQQPSUT Ñ EFVY GPJT QMVT EF

$)"/(&.&/54 %& 3"11035 &/ .*--*4&$0/%&4 1"4 .Â&#x160;.& 6/ 1*-05& %& $0634& /& 10633"*5 '"*3& "644* #*&/ 0/ 1"44& *$* 4064 -& 4&6*- %& 1&3$&15*0/ %& -Ñ³)0..&

1"35&; #.8.BHB[JOF

JOUFSWBMMFT SÂ©HVMJFST &OGJO VO DBUBMZTFVS EÑ³PYZEFT EÑ³B[PUF PQUJPOOFM DPNQMÂ¨UF MB MPOHVF TÂ©SJF EF TZTUÂ¨NFT EF USBJUF NFOU EFT HB[ EÑ³Â©DIBQQFNFOU -B #.8 E TBUJTGBJU BJOTJ EÂ¨T BVKPVSEÑ³IVJ Â MB OPSNF BOUJQPMMVUJPO 6& RVJ QSFOESB FGGFU TFVMFNFOU FO -B #.8 UE OÑ³BWBJU SJFO EF UPVU DFMB DF RVJ OF MÑ³FNQÂªDIBJU QBT EÑ³ÂªUSF DPOTJEÂ©SÂ©F Â TPO Â©QPRVF DPNNF GBJCMFNFOU QPMMVBOUF "VKPVSEÑ³IVJ DFQFO EBOU FMMF GBJU QBSUJF EFT WÂ©IJDVMFT RVJ TPOU QSPHSFTTJWFNFOU CBOOJT EFT DFOUSFT WJMMFT &O DPOEVJSF VOF WPJUVSF DPOTJTUBJU Â UPVSOFS MF WPMBOU QBTTFS EFT WJUFTTFT BDDÂ©MÂ©SFS FU GSFJOFS -Ñ³IPNNF FU MB NBDIJOF Â©UBJFOU Â©USPJUFNFOU MJÂ©T &O MFT DIPTFT OÑ³POU QBT GPOEBNFOUBMFNFOU DIBOHÂ© Â&#x20AC; CPSE EF MB OPV WFMMF #.8 E EÑ³JOOPNCSBCMFT TZTUÂ¨NFT EÑ³BTTJTUBODF DIBOHFOU MB EPOOF "V OJWFBV EF MB TÂ©DVSJUÂ© FU EV DPOGPSU MFT DIPTFT OÑ³POU QMVT SJFO Â WPJS $FQFOEBOU MÑ³FTTFOUJFM FTU QSÂ©TFSWÂ© FOUSF MF DPOEVDUFVS FU TB #.8 Â TBWPJS VOF MJHOF EJSFDUF WFST DFUUF QBSUJF EV DFSWFBV DIBSHÂ©F EFT Â©NPUJPOT FU EV QMBJTJS

1IPUPT ,"* 68& (6/%-"$) #.8 E

SBQQPSUT RVF MB CPÂ®UF BVUPNBUJRVF PQUJPOOFMMF QSPQPTÂ©F FO 1PVS MB QSFNJÂ¨SF GPJT MFT NPEÂ¨MFT EF MB #.8 4Â©SJF EPUÂ©T EÑ³VOF CPÂ®UF BVUPNBUJRVF DPOTPNNFOU NPJOT RVF MFVST Â©RVJWBMFOUT BWFD CPÂ®UF NBOVFMMF -FT QBTTBHFT EF SBQQPSU TÑ³PQÂ¨SFOU FO NJMMJÂ¨NFT EF TFDPOEF Ñ TPVT MF TFVJM EF QFSDFQUJPO IVNBJO .ÂªNF VO QJMPUF BWFSUJ OF QFVU GBJSF BVTTJ CJFO -B OPVWFMMF CPÂ®UF BVUPNBUJRVF TBVUF EFT SBQQPSUT TJ OÂ©DFTTBJSF FMMF QBTTF EJSFDUFNFOU EV IVJUJÂ¨NF BV EFVYJÂ¨NF -FT DIBOHFNFOUT EF SÂ©HJNF TF GPOU FO EPVDFVS TJ CJFO RVÑ³PO OF QFSÂ§PJU MFT QBTTBHFT EF SBQQPSUT EVSBOU MB NBSDIF RVÑ³BV QFUJU TPVCSF TBVU EF MÑ³BJHVJMMF EV DPNQUF UPVST 2VBOU Â MB EÂ©QPMMVUJPO EFT HB[ EÑ³Â©DIBQQFNFOU FMMF EÂ©CVUF EBOT MF DZMJOESF QPVS GJOJS QFV BWBOU MÑ³FNCPVU EF TPSUJF 4VS MB #.8 E BQSÂ¨T MB QSFNJÂ¨SF DPNCVTUJPO VOF QBSUJF EFT HB[ EÑ³Â©DIBQQFNFOU FTU SFEJSJHÂ©F WFST MB DIBNCSF EF DPNCVTUJPO BGJO EF SÂ©EVJSF MFT Â©NJTTJPOT &OTVJUF VO DBUBMZTFVS EÑ³PYZEBUJPO USBJUF MF NPOPYZEF EF DBSCPOF FU MFT IZESPDBSCVSFT 6O GJMUSF Â QBS UJDVMFT EJFTFM TUPDLF MFT QBSUJDVMFT TPMJEFT QPVS MFT CSÂ»MFS Â

Hôtels Dolce Vita : le meilleur du bien-être & du spa dans le Tyrol du Sud Nous vous invitons à vivre la "Dolce Vita" ... Vous réservez dans l'un des cinq hôtels Dolce Vita et profitez aussi des of fres et des installations des quatre autres ! Une marche nordique à l'hôtel Jagdhof, un tour en Vespa jusqu'à l'hôtel Feldhof avec buffet Vitalité, plonger dans le monde aquatique de l'hôtel Preidlhof, prendre le dîner à l'hôtel Lindenhof et laisser se terminer la soirée en musique à l'hôtel Paradies. C'est vous qui décidez, selon vos envies ! Dans un périmètre de 11 km, 5 top hôtels vous présentent un concept unique en son genre, pour des journées de vacances variées, avec 315 jours de soleil par an ! Dolce Vita puissance 5 - Soyez les bienvenus au paradis du soleil, dans le Vinschgau et la région de Meran... Enfin de

Beau temps garanti : 315 jours de soleil par an

véritables vacances de rêve !

GIVE ME FIVE: RÉSERVER DANS 1 HÔTEL - PROFITER DE 5 HÔTELS

HÔTELS DOLCE VITA ★★★★★

et ★★★★SUPÉRIEUR

· Le meilleur du bien-être & du spa dans le Tyrol du Sud St. Zeno Str. 13 · 39025 Naturns · Tyrol du Sud · ITALIE · Tél. +39 0473 720 165 · Fax +39 0473 721 067 info@dolcevitahotels.com · www.dolcevitahotels.com · www.dolcevitablog.com

"7*4 %& (3"/% 7&/5 5FYUF 80-'("/( 4$)/&*%&3 1IPUPT 4 +0&3% 5&/ ,"5&

#.8.BHB[JOF

6OF TPVGè¶&#x2019; FSJF EF NÂ¨USFT EF EJBNÂ¨USF NÂ©HBXBUUT FU EFT WJUFTTFT BUUFJHOBOU LN I $FT EPOOÂ©FT JNQSFTTJPOOBOUFT TPOU DFMMFT EF MB UPVUF OPVWFMMF TPVGè¶&#x2019; FSJF EF #.8 (SPVQ -Ñ³BÂ©SPEZOBNJTNF KPVF VO HSBOE SÂ´MF EBOT MÑ³PQUJNJTBUJPO Â©OFSHÂ©UJRVF EFT WÂ©IJDVMFT 6OF EJNJOVUJPO EF EF MB SÂ©TJTUBODF EF MÑ³BJS TF USBEVJU QBS VOF CBJTTF EF EF MB DPOTPNNBUJPO

6OF TPVGGMFSJF FTU VO QFUJU CJKPV EF IBVUF UFDIOPMPHJF RVJ NFU MF NPOEF Â MÑ³FOWFST -B WPJUVSF Z TVCJU EFT UFTUT FYUSÂªNFNFOU QPVTTÂ©T 4FT SPVFT UPVSOFOU MÑ³FOWJSPOOFNFOU TFNCMF EÂ©GJMFS Â UPVUF WJUFTTF NBJT MB WPJUVSF OÑ³BWBODF QBT EÑ³VO NÂÜSF -FT QBMFT EF IVJU NÂÜSFT EF EJBNÂÜSF RVJ EÂ©DIBÂ®OFOU MF WFOU TPOU QSPQVMTÂ©FT QBS VOF UVSCJOF EF NÂ©HBXBUUT FOWJSPO DI &MMFT CSBTTFOU NÂÜSFT DVCFT EÑ³BJS Â USBWFST MB TPVGGMFSJF Â VOF WJUFTTF QPVWBOU BUUFJOESF LN I -F UBQJT SPVMBOU TPVT MB WPJUVSF DSÂ©F MÑ³JMMVTJPO EF NPVWFNFOU FU TJNVMF QSFTRVF Â MB QFSGFDUJPO MB SÂ©BMJUÂ© EF MB SPVUF -Ñ³Â©DPVMFNFOU EF MÑ³BJS BV OJWFBV EV TPVCBTTFNFOU EFT SPVFT FU EFT QBTTBHFT EF SPVF FTU QSBUJRVFNFOU JEFOUJRVF Â DFMVJ EÑ³VO EÂ©QMBDFNFOU SÂ©FM -F CBOD EÑ³FTTBJ TPVT MB WPJUVSF BGGJDIF NÂÜSFT EF MPOH NÂÜSFT EF MBSHF FU NÂÜSFT EF IBVU k 1MVT MF CBOD EÑ³FTTBJ FTU HSBOE QMVT MFT WBMFVST NFTVSÂ©FT TPOU QSPDIFT EF MB SÂ©BMJUÂ© { FYQMJRVF +Â¼SHFO 'BMMFSU SFTQPO TBCMF EFT GPSNFT BÂ©SPEZOBNJRVFT EF #.8 (SPVQ k /PVT WPVMPOT SFDSÂ©FS MFT DPOEJUJPOT SPVUJÂ¨SFT SÂ©FMMFT FU TVS MB SPVUF JM OÑ³Z B QBT EF QBSPJT { -FT JOHÂ©OJFVST #.8 UFTUFOU OPO TFVMFNFOU EFT QSPUPUZQFT NBJT Â©HBMFNFOU EFT NBRVFUUFT EF GVUVSFT #.8 -FT EJNFOTJPOT JNQPSUBOUFT EV UBQJT SPVMBOU MFVS QFSNFUUFOU BJOTJ EF NFTVSFS TJNVMUB OÂ©NFOU MF DPNQPSUFNFOU BÂ©SPEZOBNJRVF EF EFVY NPEÂ¨MFT

#.8.BHB[JOF

-FT QBMFT FO DBSCPOF CSBTTFOU NÂ¨USFT DVCFT EÑ³BJS Â USBWFST MB TPVGGMFSJF -F CBOD EÑ³FTTBJ SFQSPEVJU MFT DPOEJUJPOT EF SPVUF Â MB QFSGFDUJPO MB WPJUVSF TFNCMF FGGFDUJWFNFOU BWBODFS

k -&4 '6563&4 #.8 %0*7&/5 3&45&3 *%&/5*'*"#-&4 &/ 5"/5 26& #.8 *- /& 4Ñ³"(*5 1"4 %& -&4 .65&3 &/ Ã¼6' 306-"/5 {

-F DFSWFBV EF MÑ³JOTUBMMBUJPO TF USPVWF BV TPVT TPM FU DPOTJTUF FO VOF Â©OPSNF CBMBODF EF QSÂ©DJTJPO IJHI UFDI EPUÂ©F EÑ³JOOPNCSBCMFT DBQUFVST $FT EFSOJFST TPOU TJ TFOTJCMFT RVÑ³JMT EÂ©UFDUFSBJFOU VOF QJÂ¨DF EF NPOOBJF Â©HBSÂ©F EBOT MB WPJUVSF -B CBMBODF FOSFHJTUSF UPVUFT MFT GPSDFT FYFSDÂ©FT QBS MF WFOU TVS MÑ³BVUP -FT EPOOÂ©FT BJOTJ SFDVFJMMJFT QFSNFUUFOU EF DBMDVMFS MF DPFGGJDJFOU EF SÂ©TJTUBODF BÂ©SPEZOBNJRVF $Y EV WÂ©IJDVMF 1MVT MF $Y FTU GBJCMF NPJOT MB WPJUVSF DPOTPNNF EÑ³Â©OFSHJF QPVS BWBODFS -B SÂ©TJTUBODF EF MÑ³BJS BVHNFOUF QSPQPSUJPO OFMMFNFOU BV DBSSÂ© EF MB WJUFTTF 6O QBSBNÂ¨USF DSVDJBM QPVS MB DPOTPN NBUJPO EÑ³Â©OFSHJF #.8 JOWFTUJU Â©OPSNÂ©NFOU EF NPZFOT GJOBODJFST FU IVNBJOT EBOT MB SFDIFSDIF QPVS QMVT EÑ³FGGJDJFODF Â©OFSHÂ©UJRVF FU EPOD QPVS VOF NPJOESF SÂ©TJTUBODF EF MÑ³BJS #.8 B BJOTJ JOWFTUJ NJMMJPOT EÑ³FVSPT EBOT MB DPOTUSVDUJPO EF DF DFOUSF EÑ³FTTBJT BÂ©SPEZOBNJRVFT Â .VOJDI -F CÂ¢UJNFOU EF DJOR Â©UBHFT SFHSPVQBOU TQÂ©DJBMJTUFT BCSJUF VOF HSBOEF TPVGGMFSJF FU VOF TFDPOEF QMVT QFUJUF -FT NPEÂ¨MFT #.8 DPNQUFOU EFQVJT MPOHUFNQT QBSNJ MFT WPJUVSFT MFT QMVT BÂ©SP EZOBNJRVFT EF MFVS DBUÂ©HPSJF SFTQFDUJWF (SÂ¢DF Â EFT BNÂ©MJPSBUJPOT DPOTUBOUFT MF $Y EF MB #.8 J $BCSJP QBS FYFNQMF B Â©UÂ© SÂ©EVJU EÑ³FOWJSPO FOUSF FU BVKPVSEÑ³IVJ -B #.8 MB QMVT BÂ©SPEZOB NJRVF BDUVFMMFNFOU FTU MB #.8 4Â©SJF #FSMJOF BWFD VO $Y EF 6OF EJNJOVUJPO EF EF MB SÂ©TJTUBODF EF MÑ³BJS TF USBEVJSBJU QBS VOF OPVWFMMF CBJTTF EF MB DPOTPNNBUJPO EÑ³FOWJSPO -B GPSNF EF MB WPJUVSF OÑ³FTU UPVUFGPJT QBT MF TFVM QBSBNÂ¨USF Â QSFOESF FO DPNQUF k $Ñ³FTU FYBDU { DPOGJSNF +Â¼SHFO 'BMMFSU k -FT GV

#.8.BHB[JOF

UVSFT #.8 EPJWFOU SFTUFS JEFOUJGJBCMFT FO UBOU RVF #.8 *M OF TÑ³BHJU QBT EF MFT NVUFS FO Ã½VG SPVMBOU -FT QPTTJCJMJUÂ©T EÑ³BNÂ©MJPSFS FODPSF MÑ³BÂ©SPEZOBNJTNF EFT DBSSPTTFSJFT TPOU EÑ³BJMMFVST QSBUJRVFNFOU Â©QVJ TÂ©FT &O GBJU MB DBSSPTTFSJF FTU SFTQPOTBCMF EF TFVMFNFOU EF MB SÂ©TJTUBODF BÂ©SPEZOBNJRVF { EF MB SÂ©TJTUBODF TPOU Â NFUUSF Â MÑ³BDUJG EF MÑ³BJS EF SFGSPJEJTTFNFOU EV NPUFVS EF MB CPÂ®UF EF WJUFTTFT FU EFT GSFJOT UBOEJT RVF TPOU HÂ©OÂ©SÂ©T BV OJWFBV EFT SPVFT FU EFT QBTTBHFT EF SPVFT k %BOT DFT EFVY EPNBJOFT MF QPUFOUJFM EÑ³BNÂ©MJP SBUJPO FTU FODPSF JNNFOTF -B SÂ©TJTUBODF EF MÑ³BJS QPVSSB FODPSF ÂªUSF SÂ©EVJUF EF NBOJÂ¨SF DPOTJEÂ©SBCMF DF RVJ QFSNFUUSB EF OPVWFBVY HBJOT EÑ³Â©OFSHJF -Ñ³BÂ©SPEZOBNJTNF KPVF VO SÂ´MF JNQPSUBOU EBOT MB TUSBUÂ©HJF &GGJDJFOU%ZOBNJDT 6OF NPJOESF SÂ©TJTUBODF EF MÑ³BJS BDDSPÂ®U Â©HBMFNFOU MF QMBJTJS EF DPOEVJSF FU MB TUBCJMJUÂ© EF MB WPJUVSF EFVY QBSBNÂ¨USFT JNQPSUBOUT QPVS #.8 {

#.8 %SJWFS 5SBJOJOH

XXX CNX CF XXX CNX MV

-F QMBJTJS EF DPOEVJSF

#.8 %3*7&3 53"*/*/( "70*3 -& 4&/4 %&4 3&410/4"#*-*5Â&#x2030;4 /& 46''*5 1"4 506+0634 -FT WPJUVSFT EÑ³BVKPVSEÑ³IVJ TPOU Â©RVJQÂ©FT EF TZTUÂ¨NFT EF TÂ©DVSJUÂ© EF QMVT FO QMVT QFSGPSNBOUT .BJT DFMB OF EJTQFOTF QBT MFT DPOEVDUFVST EF QPTTÂ©EFS MÑ³FYQÂ©SJFODF OÂ©DFTTBJSF FU MFT CPOT SÂ©è¶&#x2019; FYFT QPVS SÂ©BHJS DPSSFDUFNFOU EBOT MFT TJUVBUJPOT EÑ³VSHFODF #.8 BJEF MFT DPOEVDUFVST Â PQUJNJTFS MFVS NBÂ®USJTF BV WPMBOU 2VBUSF QSPHSBNNFT EF GPSNBUJPO QBTTJPOOBOUT QSJODJQBMFNFOU BYÂ©T TVS MFT FYFSDJDFT QSBUJRVFT TPOU EPOOÂ©T QBS MFT QSPGFTTJPOOFMT EV #.8 %SJWFS 5SBJOJOH EFVY GPSNBUJPOT EF CBTF "EWBODFE 5SBJOJOH * ** VOF GPSNBUJPO QPVTTÂ©F 1FSGPSNBODF 5SBJOJOH FU VOF GPSNBUJPO QFSTPOOBMJTÂ©F QPVS MFT QSPQSJÂ©UBJSFT EF #.8 . $FT QSPHSBNNFT TPOU PVWFSUT Â UPVT DPOEVDUFVST EF #.8 PV EÑ³VOF BVUSF NBSRVF KFVOFT DPOEVDUFVST NBORVBOU EÑ³FYQÂ©SJFODF DPOEVDUFVST FYQÂ©SJNFOUÂ©T EÂ©TJSBOU TF QFSGFDUJPOOFS EBOT VOF DPOEVJUF TÂ»SFÒ&#x20AC; $BS QMVT EF TÂ©DVSJUÂ© DÑ³FTU BVTTJ QMVT EF QMBJTJS 1PVS FO TBWPJS QMVT TVS MFT EJGGÂ©SFOUT QSPHSBNNFT EF #.8 %SJWFS 5SBJOJOH SFOWPZF[ MF DPVQPO SÂ©QPOTF PV WJTJUF[ XXX CNX CF ESJWFS USBJOJOH PV XXX CNX MV ESJWFS USBJOJOH

#.8 &Gê&#x2014;&#x2026; DJFOU%ZOBNJDT

*OGPSNBUJPOT FOWJSPOOFNFOUBMFT "3 XXX CNX CF

4QPOTPSFE CZ

41&&%

53"/4.*44*0/ "650."5*26& *OOPWBUJPO SFOEFNFOU FU EZOBNJTNF TPOU MFT QSJODJQBMFT RVBMJUÂ©T EF MB OPVWFMMF CPÂ®UF BVUPNBUJRVF #.8 Â SBQQPSUT VOF QSFNJÂ¨SF NPOEJBMF RVJ TPVMJHOF FODPSF QMVT MB TVQÂ©SJPSJUÂ© UFDIOPMPHJRVF EF #.8 5FYUF + 0 0 4 5 $ 6 4 5 & 3 4

&O EÂ©WPJMBOU TB OPVWFMMF CPÂ®UF BVUPNB UJRVF Â SBQQPSUT #.8 OÑ³B QBT NBORVÂ© EF DSÂ©FS MB TVSQSJTF 1PVS MB QSFNJÂ¨SF GPJT VOF CPÂ®UF BVUPNBUJRVF Â SBQQPSUT FTU QSPQPTÂ©F TVS VOF WPJUVSF EF TÂ©SJF -F QSJODJQBM EÂ©GJ BVRVFM GVSFOU DPOGSPOUÂ©T MFT JOHÂ©OJFVST MPST EV EÂ©WFMPQQFNFOU EF DFUUF OPVWFMMF CPÂ®UF BVUPNBUJRVF #.8 Â SBQ QPSUT GVU TBOT DPOUFTUF MB DPOTFSWBUJPO EF MÑ³FODPNCSFNFOU FU EV QPJET BV OJWFBV EF DFVY EF MB USBEJUJPOOFMMF CPÂ®UF BVUPNBUJRVF #.8 Â SBQ QPSUT (SÂ¢DF Â VOF UFDIOPMPHJF EF QPJOUF FU Â MÑ³VUJMJTBUJPO EF NBUÂ©SJBVY MÂ©HFST DFU PCKFDUJG GVU BUUFJOU $FUUF OPVWFMMF CPÂ®UF EF WJUFTTFT FTU Â MB GPJT MÂ©HÂ¨SF FU DPNQBDUF DF RVJ DPOUSJCVF OBUVSFMMFNFOU Â MVJ HBSBOUJS

#.8.BHB[JOF

VO SFOEFNFOU Â©OFSHÂ©UJRVF PQUJNBM -F QMBJTJS EF DPOEVJSF FU MF DPOGPSU GJHVSBJFOU Â©HBMFNFOU FO CPOOF QMBDF EBOT MB MJTUF EFT QSJPSJUÂ©T EFT DPODFQUFVST $F SÂ©TVMUBU FTU BVTTJ MF GSVJU EF MB UFDIOPMPHJF EÑ³BWBOU

$&55& /067&--& #0Â&#x17D;5& %& 7*5&44&4 &45 Â&#x20AC; -" '0*4 -Â&#x2030;(Â&#x2C6;3& &5 $0.1"$5& $& 26* $0/53*#6& Â&#x20AC; -6* ("3"/5*3 6/ 3&/%&.&/5 Â&#x2030;/&3(Â&#x2030;5*26& 015*."-

-F QSJODJQBM EÂ©GJ BVRVFM GVSFOU DPOGSPOUÂ©T MFT JOHÂ©OJFVST MPST EV EÂ©WFMPQQFNFOU EF DFUUF OPVWFMMF CPÂ®UF BVUPNBUJRVF #.8 Â SBQQPSUT GVU TBOT DPOUFTUF EF MJNJUFS MÑ³FODPNCSFNFOU FU MF QPJET

HBSEF VUJMJTÂ©F QPVS MÑ³FNCSBZBHF -F DPOEVDUFVS EÂ©DÂ¨MF FO FGGFU Â QFJOF MFT DIBOHFNFOUT EF SBQQPSUT RVJ TPOU FYUSÂªNFNFOU SBQJEFT -B OPVWFMMF CPÂ®UF BVUPNBUJRVF #.8 Â SBQQPSUT TF DBSBDUÂ©SJTF QBS BJMMFVST QBS USPJT EFT RVBMJUÂ©T FTTFOUJFMMFT HBSBOUJTTBOU MF QMBJTJS EF DPOEVJSF #.8 (SÂ¢DF Â MÑ³VUJMJTBUJPO EF IVJU SBQQPSUT BV MJFV EF TJY MÑ³FTQBDFNFOU FOUSF MFT WJUFTTFT FTU TFOTJCMFNFOU SÂ©EVJU DF RVJ GBWPSJTF VOF DPOEVJUF EZOBNJRVF -F NPUFVS 7 EF #.8 FTU BJOTJ FODPSF QMVT BHSÂ©BCMF FU SBGGJOÂ© DPOUSJCVBOU Â VO BHSÂ©NFOU SFOGPSDÂ© &U FOGJO DFUUF CPÂ®UF EF WJUFTTFT CSJMMF QBS VO SFOEFNFOU TVQÂ©SJFVS DF RVJ TÑ³JOTDSJU VOF GPJT FODPSF QBSGBJUFNFOU EBOT MB QIJMPTPQIJF #.8 &GGJDJFOU%ZOBNJDT

%BOT VO QSFNJFS UFNQT DFUUF OPVWFMMF CPÂ®UF BVUPNBUJ RVF Â©RVJQFSB MFT #.8 J FU #.8 -J EJTQPTBOU UPVUFT EFVY EÑ³VO 7 CJ UVSCP -B CPÂ®UF BVUPNBUJRVF #.8 Â SBQQPSUT B Â©UÂ© DPOÂ§VF TVS NFTVSF QPVS DF NPUFVS EPV[F DZMJOESFT FU DFUUF CFSMJOF EF HSBOE MVYF &MMF TFSB DFQFOEBOU BVTTJ QSPQPTÂ©F FO PQUJPO TVS MB OPVWFMMF #.8 4Â©SJF RVJ TFSB MBODÂ©F FO NBST 6MUÂ©SJFVSFNFOU MB CPÂ®UF BVUPNBUJRVF #.8 Â SBQQPSUT TFSB EJTQPOJCMF TVS EJGGÂ©SFOUT BVUSFT NPEÂ¨MFT FU FO DPNCJOBJTPO BWFD EJWFSTFT NPUPSJTBUJPOT BWFD VOF USBOTNJTTJPO BVY SPVFT BSSJÂ¨SF PV MB USBOTNJTTJPO JOUÂ©HSBMF #.8 Y%SJWF $FUUF OPVWFMMF CPÂ®UF EF WJUFTTFT TFSB Â©HBMFNFOU BTTPDJÂ©F QMVT UBSE Â MB UFDIOP MPHJF IZCSJEF NPEÂ¨MFT #.8 "DUJWF)ZCSJE

#.8.BHB[JOF

"OESÂ© %VWBM B TVJWJ MB SPVUF EF /VMMBSCPS TVS LN FOUSF 1FSUI FU "EÂ©MBÂ¯EF k 1PVSUBOU UPVU MF NPOEF NF MÑ³B EÂ©DPOTFJMMÂ© DFUUF SPVUF FTU EÑ³VO FOOVJ NPSUFM FU OF DPNQUF RVF RVBUSF TUBUJPOT TFSWJDF {

"OESÂ© %VWBM k /BEJOF FU NPJ OÑ³BWJPOT KBNBJT WPZBHÂ© FOTFNCMF EBOT DFT DJSDPOT UBODFT $Ñ³Â©UBJU EPOD VOF EÂ©DPVWFSUF "V GJM EV WPZBHF OPVT TPNNFT EFWFOVT VOF WÂ©SJUBCMF Â©RVJQF GPSNJEBCMF NFOU DPNQMÂ©NFOUBJSF { 1IPUP EF HBVDIF -B #.8 3 (4 "EWFOUVSF Â©UBJU JEÂ©BMF QPVS WJWSF DFUUF BWFOUVSF EBOT MÑ³0VUCBDL

#.8.BHB[JOF

.05033"%

-& 16#-*$*5"*3& "/%3Â&#x2030; %67"- 4*--0//& -Ñ³065#"$, "6453"-*&/ 463 4" #.8 3 (4 "%7&/563&

Â&#x2030;#-06*44"/5& /"563& Â&#x20AC; QSÂ©TFOU RVÑ³ "OESÂ© %VWBM B DÂ©EÂ© MB EJSFDUJPO EF TPO BHFODF QVCMJDJUBJSF %VWBM (VJMMBVNF Â MB KFVOF HÂ©OÂ©SBUJPO JM QFVU FOè¶&#x2018; O SÂ©BMJTFS TPO SÂªWF UPVU BCBOEPOOFS QPVS FOGPVSDIFS TB NPUP FU QBSDPVSJS EF MPJOUBJOFT DPOUSÂ©FT 5FYUF 1 & 5 & 3 7 " / % : $ , 1IPUPT % " / / : 4 5 & 7 & / 4 " / % 3 Â&#x2030; % 6 7 " -

k +Ñ³BJ UPVKPVST Â©UÂ© GBTDJOÂ© QBS MFT NPUPT .BJT MÑ³JOUFOTJUÂ© EF NB WJF QSPGFTTJPOOFMMF OF NF MBJTTBJU RVF SBSFNFOU MF UFNQT EF NF MJWSFS Â DFUUF QBT TJPO +VTRVÑ³Â DF RVF KF WJTJPOOF JM Z B RVFMRVFT BOOÂ©FT MF EPDVNFOUBJSF Ñ²5IF -POH 8BZ 3PVOEÑ³ RVJ SFMBUBJU MF UPVS EV NPOEF Â NPUP EF MÑ³BDUFVS &XBO .D(SFHPS FU TPO BNJ $IBSMFZ #PPSNBO $FMB NÑ³B JODJUÂ© Â USBWFSTFS MÑ³"GSJRVF EV 4VE FU MB 5VOJTJF BWBOU EF NÑ³JOTDSJSF Â MB GJO EF MÑ³BOOÂ©F EFSOJÂ¨SF Â VOF SBOEPOOÂ©F EF HSPVQF FO "VTUSBMJF { k +VTRVÑ³Â QSÂ©TFOU KÑ³BJ UPVKPVST SÂ©BMJTÂ© NFT WPZBHFT Â NPUP TBOT NPO Â©QPVTF .BJT DFUUF GPJT FMMF B CJFO WPVMV NÑ³BDDPNQBHOFS Â©UBOU EPOOÂ© RVF OPVT Â©UJPOT FODBESÂ©T QBS EFT WPJUVSFT TVJWFVTFT "V EÂ©CVU OPVT BWPOT SPVMÂ© USÂ¨T MFOUFNFOU FU FO DPOWPJ $POGPSUÂ©F QBS DF TFOUJNFOU EF TÂ©DVSJUÂ© /BEJOF B QSJT QMBDF Â MÑ³BSSJÂ¨SF $FMB TÑ³FTU USÂ¨T CJFO QBTTÂ© &U VOF GPJT RVÑ³VOF DFSUBJOF IBCJUVEF TÑ³JOTUBMMF PO QBTTF TQPOUBOÂ©NFOU Â MB WJUFTTF TVQÂ©SJFVSF $Ñ³Â©UBJU TBOT DPNQUFS TVS MÑ³BSSJWÂ©F TPVEBJOF EF MB QPMJDF RVJ NÑ³B EFNBOEÂ© EF NÑ³BSSÂªUFS k 7PVT SPVMF[ USPQ WJUF LN I { NÑ³POU JMT EJU +F NÑ³FO TVJT UJSÂ© BWFD VO BWFSUJTTFNFOUÒ&#x20AC;

&U DÑ³FTU VOF DIBODF DBS MFT FYDÂ¨T EF WJUFTTF TPOU TÂ©WÂ¨SF NFOU TBODUJPOOÂ©T EBOT DF QBZT { k -F WPZBHF TÑ³FTU EÂ©DMJOÂ© FO USPJT QBSUJFT %BOT VO QSF NJFS UFNQT OPVT BWPOT RVJUUÂ© #SJTCBOF QPVS USBWFSTFS MÑ³0VUCBDL FO EJSFDUJPO EF %BSXJO EBOT MF OPSE &OTVJUF QPVS MB EFVYJÂ¨NF QBSUJF EV WPZBHF OPVT TPNNFT EFT

k +Ñ³"* 106346*7* -& 70:"(& Â&#x20AC; .050 Â&#x20AC; 53"7&34 -" 1-"*/& %& /6--"3#03 463 6/& -0/(6& 3065& 3&$5*-*(/& %& ,. { DFOEVT WFST 1FSUI &U FOGJO MB USPJTJÂ¨NF Â©UBQF DPOTJTUBJU Â USBWFSTFS MF EÂ©TFSU EÑ³PVFTU FO FTU Â&#x2030;UBOU EPOOÂ© RVF KF DPNNFOÂ§BJT Â FO BWPJS VO QFV BTTF[ EF MB DPNQBHOJF EFT BVUSFT QBSUJDJQBOUT OPVT BWPOT GBJU VOF HSBOEF QBSUJF EF MB EFVYJÂ¨NF Â©UBQF TFVMT "QSÂ¨T 1FSUI KF NF TVJT EÂ©UPVSOÂ© DPNQMÂ¨UFNFOU EV QSPHSBNNF /BEJOF FU NPJ BWPOT DPOUJ OVÂ© EF TVJWSF MB DÂ´UF WFST MF TVE { #.8.BHB[JOF

-FT CBPCBCT DFT BSCSFT BV HJHBOUFTRVF USPOD EF CPJT UFOESF OF TPOU QBT MFT TFVMT Â©MÂ©NFOUT EF MB OBUVSF Â BWPJS DIBSNÂ© "OESÂ© %VWBM k 2VJ B EJU RVÑ³JM OÑ³Z BWBJU SJFO Â WPJS EBOT MÑ³0VUCBDL $Ñ³FTU BCTVSEF MF QBZTBHF Â©WPMVF UPVT MFT LN *M OÑ³Z B QBT EFVY UFSNJUJÂ¨SFT JEFOUJRVFTÒ&#x20AC; {

k -" $)"-&63 &9$Â&#x2C6;%& -&4 %&(3Â&#x2030;4 %"/4 $&4 $0/%*5*0/4 0/ 4& 4&/5 Â&#x2030;16*4Â&#x2030; "13Â&#x2C6;4 $)"26& Â&#x2030;5"1& $Ñ³&45 Â&#x2030;13067"/5 ."*4 $&-" /Ñ³&.1Â&#x160;$)& 1"4 %& 130'*5&3 %6 $"-.& &5 %& -" /"563& { k /BEJOF B GBJU MF USBKFU FOUSF 1FSUI FU "EÂ©MBÂ¯EF FO BWJPO &U NPJ KÑ³BJ QPVSTVJWJ MF WPZBHF Â NPUP Â USBWFST MB QMBJOF EF /VMMBSCPS TVS VOF MPOHVF SPVUF SFDUJMJHOF EF LN +F TVJT BSSJWÂ© Â "EÂ©MBÂ¯EF FO USPJT KPVST TFVMFNFOU +Ñ³BJ NJT MFT HB[ NBJT KF DSBJHOBJT RVBOE NÂªNF EF SFODPOUSFS EFT BOJNBVY TVS NB SPVUF %BOT MB SÂ©HJPO PO EJU EFT LBOHPVSPVT RVF MFVS DFSWFBV OÑ³FTU QBT QMVT Â©WPMVÂ© RVF DFMVJ EÑ³VO QPVMFU 4Ñ³JMT TPOU FGGSBZÂ©T JMT QFVWFOU TF NFUUSF Â TBVUFS EBOT UPVT MFT TFOT { k -B DIBMFVS FYDÂ¨EF MFT EFHSÂ©T %BOT DFT DPOEJ UJPOT PO TF TFOU Â©QVJTÂ© BQSÂ¨T DIBRVF Â©UBQF $Ñ³FTU Â©QSPV

#.8.BHB[JOF

WBOU NBJT DFMB OÑ³FNQÂªDIF QBT EF QSPGJUFS EV DBMNF FU EFT CFBVUÂ©T EF MB OBUVSF -F TFOUJNFOU EÑ³FTQBDF RVJ WPVT FOWB IJU MPSTRVF WPVT WPVT USPVWF[ BV TPNNFU EÑ³VOF DPMMJOF FTU JOEFTDSJQUJCMF 1PVS WPVT EPOOFS VOF JEÂ©F MF QBSD OBUJPOBM EF ,BLBEV FTU EFVY GPJT QMVT HSBOE RVF MB 'SBODF $Ñ³FTU MÂ RVÑ³Â MÑ³PDDBTJPO EÑ³VOF CBMBEF FO CBUFBV KÑ³BJ QV WPJS EFT DSP DPEJMFT DBQUVSFS EF HSPT QPJTTPOT KVTUF EFWBOU NPJ { k 1FOEBOU MB QSFNJÂ¨SF QBSUJF EV WPZBHF VO DPVQMF EF WPZBHFVST B HMJTTÂ© EBOT MFT TBCMFT NPVWBOUT *MT TF TPOU NBM SÂ©DFQUJPOOÂ©T FU QSÂ©TFOUBJFOU EF MÂ©HÂ¨SFT GSBDUVSFT FU EFT DPOUVTJPOT $PNNF OPVT OPVT USPVWJPOT Â LN EF MB GFSNF TVJWBOUF OPVT BWPOT EÂ» BQQFMFS MFT 'MZJOH %PD UPST %BOT MÑ³IFVSF JMT BUUFSSJTTBJFOU TVS VO DIFNJO TBCMPO OFVY $Ñ³Â©UBJU EÂ©KÂ VO TQFDUBDMF FO TPJ 1FSTPOOFMMFNFOU Â QBSU EFVY QFUJUFT GVJUFT KF OÑ³BJ QBT DPOOV EF QBOOF { k .B #.8 3 (4 "EWFOUVSF Â©UBJU JEÂ©BMF QPVS DF WPZBHF /Ñ³PVCMJF[ QBT RVF MÂ CBT JM GBVU TPVWFOU QJMPUFS PGG SPBE TVS EFT DIFNJOT EF UFSSF QBSTFNÂ©T EF QJFSSBJMMF 6OF NPUP DÑ³FTU MB MJCFSUÂ© WPVT GBJUFT IBMUF PÂ¹ FU RVBOE WPVT MF TPVIBJUF[ -FT TFOTBUJPOT TPOU FYUSBPSEJOBJSFT MFT JNQSFT TJPOT MFT PEFVST FU MB WJUFTTF CJFO TÂ»S +F TVJT WSBJNFOU DPOUBNJOÂ© QBS MF WJSVT Â QSÂ©TFOU {

BMW recommande Castrol

C’EST PLUS QU’UN SIMPLE BOUCHON DE CARTER.

C’EST UNE RECOMMANDATION. Les lubrifiants Castrol sont recommandés par BMW depuis plus d’une décennie. En 10 ans, des millions de voitures du Groupe BMW ont été fabriqué avec des bouchons de carter portant la mention « BMW recommande Castrol ». Les lubrifiants Castrol de dernière génération pour les voitures du Groupe BMW ont été développé en étroite collaboration avec BMW pour obtenir le mélange parfait de performance et de fiabilité. Ils soutiennent complètement le programme BMW EfficientDynamics pour réduire la consommation de carburant et les émissions de CO2. La prochaine fois que vous ferez votre vidange ou votre appoint d’huile, souvenez vous que BMW recommande les lubrifiants Castrol.

5&$)/0 5"-,

1&3'03."/$&

#.8 6/ 1-"*4*3 %& $0/%6*3& &/$03& 1-64 41035*' #.8 DÑ³FTU MF QMBJTJS EF DPOEVJSF FU MB NBSRVF SFGVTFSB UPVKPVST MFT DPNQSPNJT TVS DF QMBO "è¶&#x2018; O EF SFOGPSDFS MFT MJFOT BWFD MB DPNQÂ©UJUJPO #.8 1FSGPSNBODF B EÂ©WFMPQQÂ© VOF HBNNF EÑ³BDDFTTPJSFT TQPSUJGT EFTUJOÂ©T Â MB #.8 4Â©SJF FU Â MB #.8 4Â©SJF -B MPOHVF USBEJUJPO EF #.8 FO DPNQÂ©UJUJPO TVS DJSDVJU TF QFSQÂ©UVF EPOD

$IBRVF #.8 FTU EÂ©WFMPQQÂ©F FO SFTQFDUBOU BWFD SJHVFVS MFT WBMFVST EF MB NBSRVF TQPSUJWJUÂ© EZOB NJTNF FU UFDIOPMPHJFT JOOPWBOUFT -B DPOEVJUF BVUPNPCJMF DPOTUJ UVBOU VOF FYQÂ©SJFODF QFSTPOOFMMF #.8 PGGSF MB QPTTJCJMJUÂ© EF TPVMJ HOFS EBWBOUBHF DFT RVBMJUÂ©T FU EÑ³PGGSJS VOF TQPSUJWJUÂ© JOEJWJEVFMMF Â WPUSF #.8 -B MJHOF EF QSPEVJUT #.8 1FSGPSNBODF FTU QMVT RVÑ³VO QSPHSBNNF EF QFSTPOOBMJTBUJPO TUZMJTUJRVF PV TQPSUJWF EF WPUSF WPJ UVSF -B HBNNF #.8 1FSGPSNBODF DPOUSJCVF BVTTJ Â SFIBVTTFS MFT QFSGPSNBODFT MF DPNQPSUFNFOU SPVUJFS FU MF QMBJTJS EF DPOEVJSF -F NPUFVS EFNFVSF CJFO TÂ»S MF DÃ½VS EF WPUSF #.8 FU MB MJHOF #.8 1FSGPSNBODF WPVT QSPQPTF EJWFSTFT QPTTJCJMJUÂ©T QPVS NFUUSF QMVT FO WBMFVS MFT QSÂ©UFOUJPOT TQPSUJWFT EF WPUSF #.8 -F LJU EF QVJT TBODF #.8 1FSGPSNBODF QFSNFU BJOTJ EF CÂ©OÂ©GJDJFS EF QFSGPSNBODFT SFIBVTTÂ©FT &U QPVS VO DÃ½VS EF TQPSUJG MB SFTQJSBUJPO FTU FTTFOUJFMMF $F LJU EF QVJTTBODF #.8 1FSGPSNBODF JOUÂ¨HSF VO EJTQPTJUJG EF SFGSPJ EJTTFNFOU EÑ³BJS PQUJNJTÂ© 7PVT QPVWF[ BVTTJ PQUFS QPVS MÑ³BENJTTJPO #.8 1FSGPSNBODF BJOTJ RVF MFT TJMFODJFVY EÑ³Â©DIBQQFNFOU #.8 1FS GPSNBODF "WFD VO GMVY EÑ³BJS PQUJNJTÂ© VO NPUFVS QFVU FO FGGFU EÂ©MJWSFS QMVT BJTÂ©NFOU UPVUF TB QVJTTBODF &U MF TFDPOE FGGFU QPTJUJG FTU CJFO TÂ»S MÑ³PCUFOUJPO EÑ³VOF TPOPSJUÂ© EÂ©CPSEBOU EF DBSBDUÂ¨SF 6O NPUFVS QVJTTBOU EPJU QPVWPJS FYQSJNFS TPO QPUFOUJFM EF GBÂ§PO PQUJNBMF #.8 1FSGPSNBODF QSPQPTF BJOTJ EJWFST BDDFTTPJSFT RVJ PQUJNJTFOU FODPSF MF DPNQPSUFNFOU SPVUJFS EF WPUSF #.8 -FT KBOUFT

5FYUF + 0 0 4 5 $ 6 4 5 & 3 4

#.8.BHB[JOF

TPOU OBUVSFMMFNFOU MFT Â©RVJQFNFOUT MFT QMVT WJTJCMFT %Ñ³BVUSFT DPN QPTBOUT EF IBVUF UFDIOPMPHJF TPOU QSPQPTÂ©T QPVS HBSBOUJS VO DPN QPSUFNFOU JEÂ©BM BWFD MF DIÂ¢TTJT #.8 1FSGPSNBODF GBJTBOU BQQFM Â EFT BNPSUJTTFVST FU EFT SFTTPSUT BEBQUÂ©T EFT GSFJOT PQUJNJTÂ©T PV MB CBSSF TUBCJMJTBUSJDF #.8 1FSGPSNBODF RVJ PGGSF Â WPUSF #.8 VOF TUBCJMJUÂ© TUSVDUVSFMMF SFOGPSDÂ©F $F OÑ³FTU QBT VO IBTBSE TJ MF TMPHBO k 1PXFS JT OPUIJOH XJUIPVU DPOUSPM { DPOTUJUVF MB SÂ¨HMF EF CBTF FO TQPSU BVUPNPCJMF $IF[ #.8 MFT QFSGPSNBODFT FU MF TUZMF WPOU UPVKPVST EF QBJS FU EJWFST BDDFTTPJSFT TPOU QSPQPTÂ©T QPVS BDDFOUVFS MÑ³BÂ©SPEZOBNJTNF -F QBDL #.8 1FSGPSNBODF FTU OPUBNNFOU DPNQPTÂ© EÑ³VO TQPJMFS BWBOU EF KVQFT MBUÂ©SBMFT BWFD HSJMMFT JOUÂ©HSÂ©FT FU EÑ³VOF KVQF BSSJÂ¨SF "V OJWFBV JOUÂ©SJFVS MFT QPTTJCJMJUÂ©T TPOU Â©HBMFNFOU USÂ¨T OPNCSFVTFT 7PMBOU TJÂ¨HFT CBRVFUT QÂ©EBMJFS PV QPNNFBV EF MFWJFS EF WJUFTTFT MFT Â©RVJQFNFOUT QSPQPTÂ©T BV TFJO EF MB MJHOF #.8 1FSGPSNBODF SFIBVTTFOU FO IBSNPOJF MB TQPSUJWJUÂ© EF MÑ³IBCJUBDMF XXX CNX CF BDDFTTPJSFT XXX CNX MV BDDFTTPJSFT

#.8 1FSGPSNBODF QSPQPTF EF OPNCSFVY Â©RVJQFNFOUT JOUÂ©SJFVST WPMBOU QÂ©EBMJFS QPNNFBV EF MFWJFS EF WJUFTTFT 5PVT DFT BDDFTTPJSFT CÂ©OÂ©GJDJFOU EÑ³VOF GJOJUJPO EF IBVUF RVBMJUÂ© FU TPOU FO QBSGBJUF IBSNPOJF

1PVS FYQMPJUFS QMVT EF QVJTTBODF JM GBVU EJTQPTFS EÑ³VO SFGSPJEJTTFNFOU PQUJNJTÂ© VO TZTUÂ¨NF EF SFGSPJEJT TFNFOU MJRVJEF BEEJUJPOOFM VOF BENJTTJPO BEBQUÂ©F FU VO WFOUJMBUFVS QBSUJDVMJÂ¨SFNFOU QVJTTBOU DPOUSJCVFOU Â BTTVSFS MÑ³Â©RVJMJCSF EFT TPMVUJPOT #.8 1FSGPSNBODF

6/ .05&63 16*44"/5 %0*5 10670*3 &913*.&3 40/ 105&/5*&- %& '"Â&#x2021;0/ 015*."-& #.8 1&3'03."/$& 130104& %*7&34 "$$&440*3&4 26* 015*.*4&/5 &/$03& -& $0.1035&.&/5 &O DIPJTJTTBOU #.8 PO PQUF QPVS MB TQPSUJWJUÂ© MF EZOBNJTNF FU MFT UFDIOPMPHJFT JOOPWBOUFT $FT RVBMJUÂ©T TPOU FODPSF NJFVY NJTFT FO WBMFVS QBS MFT DPNQPTBOUT EF MB HBNNF #.8 1FSGPSNBODF

#.8.BHB[JOF

." #.8

1-"*4*3 Â&#x20AC; -Ñ³ -B #.8 ; JODBSOF QFVU ÂªUSF MB OPVWFMMF MÂ©HFOEF EF MB HBNNF #.8 FYFNQMBJSFT EF DFUUF NFSWFJMMF POU Â©UÂ© WFOEVT EBOT OPUSF QBZT FU MÑ³VO EÑ³FVY BQQBSUJFOU Â MÑ³FOUSFQSFOFVS &SJD &WFSBSE $FU IFVSFVY QSPQSJÂ©UBJSF FOUSFUJFOU VOF SFMBUJPO QBSUJDVMJÂ¨SF BWFD #.8

#.8.BHB[JOF

Ñ³Â&#x2030;5"5 163 5FYUF + 0 0 4 5 $ 6 4 5 & 3 4 1IPUPT 5 ) 0 . " 4 % & # 0 & 7 & 3

Â&#x20AC; WSBJ EJSF JM OÑ³Z B RVÑ³VOF TFVMF QMBDF EBOT VOF #.8 ; EFSSJÂ¨SF MF WPMBOU 6OF #.8 ; FTU FU SFTUF VOF BVUPNPCJMF JOUFNQPSFMMF

&SJD &WFSBSE k 6OF #.8 ; OÑ³FTU SÂ©FMMFNFOU NJTF FO WBMFVS RVF MPSTRVF MF NPUFVS SVHJU 7PJMÂ QPVSRVPJ KF NÑ³FGGPSDF EF MB NFOFS Â MB DSBWBDIF MF QMVT TPVWFOU QPTTJCMF {

k 6OF #.8 ; OÑ³FTU SÂ©FMMFNFOU NJTF FO WBMFVS RVF MPSTRVF MF NPUFVS SVHJU 7PJMÂ QPVS RVPJ KF NÑ³FGGPSDF EF MB NFOFS Â MB DSBWBDIF MF QMVT TPVWFOU QPTTJCMF { FYQMJRVF MÑ³IFVSFVY QSPQSJÂ©UBJSF &SJD &WFSBSE BOT FTU MF QBUSPO EÑ³"SUFYJT (SPVQ VOF TPDJÂ©UÂ© EF QSFNJFS QMBO EBOT MF TFDUFVS EFT TBMPOT FU FYQPTJUJPOT k +F NÂ¨OF VOF WJF USÂ¨T BDUJWF FU KÑ³BJ DIPJTJ VOF #.8 E BWFD DIBVGGFVS QPVS NFT EÂ©QMBDFNFOUT QSPGFTTJPOOFMT .BJT KÑ³BEPSF BVTTJ DPOEVJSF SBJTPO QPVS MBRVFMMF NPO HBSBHF BCSJUF VOF NPUP #.8 , 4 VOF .*/* $PPQFS 4 NBJT TVS UPVU NB #.8 ; +Ñ³FOUSFUJFOT VO SBQQPSU QBSUJDVMJFS BWFD DFUUF EFSOJÂ¨SF 3Â©DFNNFOU KÑ³BJ FGGFDUVÂ© BWFD FMMF VO TUBHF EF QJMPUBHF TVS MB MÂ©HFOEBJSF /PSE TDIMFJGF 0VUSF MÑ³FYQÂ©SJFODF JOPVCMJBCMF KÑ³BJ VOF OPVWFMMF GPJT Â©UÂ© GSBQQÂ© QBS MFT QFSGPSNBODFT UPVU TJNQMFNFOU Ñ²Â©QPVTUPVGMBOUFTÑ³ EF MB #.8 ; { &SJD &WFSBSE B BDIFUÂ© TB #.8 ; EÂ¨T TB TPSUJF TVS MF NBSDIÂ© k -Ñ³BDIBU EF DFUUF BVUPNPCJMF FTU Â MVJ TFVM UPVUF VOF IJTUPJSF 6OF EF NFT SFMBUJPOT EÑ³BG GBJSFT QPTTÂ©EBJU VOF #.8 ; FU EÂ¨T RVF KF NÑ³Z TVJT BTTJT KÑ³BJ FV MF DPVQ EF GPVESF Â&#x20AC; MÑ³Â©QPRVF MF EÂ©MBJ EF MJWSBJTPO Â©UBJU EF NPJT DF RVF KF USPVWBJT QBSUJ DVMJÂ¨SFNFOU MPOH .BJT RVFMRVFT TFNBJOFT QMVT UBSE BMPST RVF KF DPOEVJTBJT NB #.8 E QPVS VO QFUJU FOUSFUJFO DIF[ NPO DPODFTTJPOOBJSF +FBO .JDIFM .BSUJO KF NF TVJT CSVTRVFNFOU USPVWÂ© OF[ Â OF[ BWFD VOF #.8 ; 1PVS DBVTF EF EÂ©NÂ©OBHFNFOU BVY Â&#x2030;UBUT 6OJT MÑ³BDIFUFVS BWBJU BOOVMÂ© TB DPNNBOEF VOF BVCBJOF QPVS NPJ +F TVJT SFQBSUJ BWFD MÑ³BVUPNPCJMF MF KPVS NÂªNFÒ&#x20AC; $Ñ³FTU VOF TVQFSCF BVUPNPCJMF KF MÑ³BJ NÂªNF FNNFOÂ©F FO WPZBHF EF OPDFT 4BWJF[ WPVT RVF MPSTRVF EFVY #.8 ; TF DSPJTFOU MFT DPOEVD UFVST TÑ³BSSÂªUFOU FU GPOU VO CSJO EF DBVTFUUF +F NF EFNBOEF FO GBJU QPVSRVPJ JM OÑ³FYJTUF QBT FODPSF EF DMVC EFT QSPQSJÂ©UBJSFT EF #.8 ; EBOT OPUSF QBZT +F OF NÑ³FO TÂ©QBSFSBJ KBNBJT RVFMMF RVF TPJU MÑ³PGGSF { &SJD &WFSBSE FTU VO BNPVSFVY EF MÑ³BVUPNPCJMF EFQVJT TB QMVT UFOESF FOGBODF FU B UPVKPVST FOUSFUFOV VOF SFMBUJPO QBSUJDVMJÂ¨SF BWFD #.8 k .B QSFNJÂ¨SF WPJUVSF B DFSUFT Â©UÂ© VOF JDÂ´OF GSBOÂ§BJTF EF EFVY DIF WBVY Â QFJOF NBJT FMMF B Â©UÂ© TVJWJF USÂ¨T SBQJEFNFOU EÑ³VOF #.8 J 5PVSJOH EF MB QSFNJÂ¨SF HÂ©OÂ©SBUJPO QVJT FOUSF BVUSFT EÑ³VOF #.8 4Â©SJF FU EÑ³VOF #.8 4Â©SJF NBJT BWBOU UPVU Â VTBHF QSPGFTTJPOOFM {

&SJD &WFSBSE FOUSFUJFOU VOF SFMBUJPO QBSUJDVMJÂ¨SF BWFD #.8 *M SPVMF FO #.8 ; Â UJUSF QSJWÂ© FU FO #.8 E QPVS TFT EÂ©QMBDFNFOUT QSPGFTTJPOOFMT

#.8.BHB[JOF

-F DPNQPSUFNFOU EÑ³VO BVUPNPCJMJTUF OF QFSNFU QBT EF UJSFS EFT DPODMVTJPOT TVS TPO DBSBDUÂ¨SF 'FNNF IPNNF SFUSBJUÂ© DPOEVDUFVS EF QPJET MPVSEÒ&#x20AC; DF OF TPOU RVF EFT QSÂ©KVHÂ©T

; 0 / & % * - & . . &

NFOU VS MF DPNQPSUF TÑ³FTU QFODIÂ© T JMU SJWF SC F % EF 8 BO 7 IZ GJD Ñ 8 -Ñ³BVUFVS 5PN PO MJWSF k 5SBG JMJTUFT EBOT T { PC T PN 6 VU VU CP T B EF U 4BZT " P BOE 8 IBU * O EF MPHJRVF 5IF 8BZ 8F % SUFNFOU OÑ³B SJF QP N DP SF PU 4PO CJMBO O

1IPUPT / " % " 7 , " / % " 3

.POTJFVS 7BOEFSCJMU Â MB MFDUVSF EF WPUSF MJWSF PO QPVSSBJU DSPJSF RVF OPUSF GBÂ§PO EF DPOEVJSF OF TÑ³FTU QBT BNÂ©MJP SÂ©F EFQVJT MB 3PNF BOUJRVFÑ¿ $Ñ³FTU WSBJ $Â©TBS BWBJU JOUFSEJU BVY DIBSJPUT EF DJSDVMFS EBOT 3PNF EVSBOU MB KPVSOÂ©F BGJO EF NFUUSF GJO BVY FNCPVUFJMMBHFT .BJT UPVU DF NPOEF SPVMBOU MB OVJU MFT 3PNBJOT OF QPV WBJFOU QMVT EPSNJSÒ&#x20AC; &O NBUJÂ¨SF EF DJSDVMB UJPO JM OÑ³FYJTUF EPOD QBT EF TPMVUJPO PQUJNBMF 5PVU OÑ³FTU RVF DPNQSPNJT 1FOTF[ WPVT RVF MB DPOEVJUF BVUPNPCJMF GBTTF BQQFM Â OPT JOTUJODUT QSJNBJSFT 0VJ +F USPVWF GBTDJOBOUF MB NBOJÂ¨SF EPOU OPVT QSFOPOT EFT EÂ©DJTJPOT FO RVFMRVFT

TFOTBUJPO EF EFWPJS EÂ©GFOESF OPUSF CJFO 1PVSRVPJ FTU PO TPVWFOU QFSTVBEÂ© EF DPOEVJSF DPSSFDUFNFOU FU EÑ³ÂªUSF FO UPVSÂ© EF EÂ©CVUBOUT &O QTZDIPMPHJF PO FNQMPJF MF UFSNF EF k CJBJT EÑ³PQUJNJTNF { MB NBKPSJUÂ© EFT QFS TPOOFT EÑ³VO HSPVQF TPOU UPVKPVST DPOWBJO DVFT EF NJFVY SÂ©VTTJS Â VO UFTU RVF UPVUFT MFT BVUSFT -PSTRVF RVFMRVÑ³VO LMBYPOOF QPVS DSJUJRVFS OPUSF DPOEVJUF PO QFOTF JNNBO RVBCMFNFOU k *NCÂ©DJMF { -F GFV PSBOHF FTU VO BVUSF QPJOU EF MJUJHF QFSQÂ©UVFM BDDÂ©MÂ©SFS PV GSFJOFS *M TÑ³BHJU MÂ EÑ³VOF [POF EJMFNNF %Ñ³VOF NBOJÂ¨SF HÂ©OÂ©SBMF KF EÂ©DPOTFJMMFSBJT EÑ³BDDÂ©MÂ©SFS BVY

5 & 4 50 . 0 # * - * 4 6 Ñ³" % & 3 # 3 Â&#x2C6; 4 k -& /0. */Â&#x2030;3 "*3& 5 463 6/ *5 - * . * 5 Â&#x2030; { 3 " *5 Â&#x160; 5 3 & 7 & % Â&#x2030; 5 / &.136

GSBDUJPOT EF TFDPOEF FU EPOU OPVT SÂ©BHJT TPOT Â DFSUBJOFT TJUVBUJPOT TVS MB SPVUF /PVT QSFOPOT QBS FYFNQMF QMVT EF UFNQT QPVS RVJUUFS VOF QMBDF EF TUBUJPOOFNFOU EÂ¨T MPST RVF RVFMRVÑ³VO EÑ³BVUSF BUUFOE QPVS TÑ³Z HBSFS /PVT TVDDPNCPOT BMPST Â VOF DSJTF EÑ³BQQSP QSJBUJPO RVJ B TFT PSJHJOFT EBOT MB QSÂ©IJTUPJSF %F NBOJÂ¨SF JODPOTDJFOUF OPVT Â©QSPVWPOT MB #.8.BHB[JOF

5PN 7BOEFSCJMU WJU Â #SPPLMZO FU USBWBJMMF DPNNF SFQPSUFS OPUBNNFOU QPVS MF (VBSEJBO MF 8BMM 4USFFU +PVSOBM FU MF /FX :PSL 5JNFT .BHB[JOF

DBSSFGPVST DBS JM TÑ³BHJU EFT FOESPJUT MFT QMVT EBOHFSFVY TVS MB SPVUF +F TVJT BEFQUF EV SPOE QPJOU RVJ MVJ OF QPTF QBT EF EJMFNNF 7PVT Â©WPRVF[ MF DPNQPSUFNFOU EFT GPVS NJT 2VÑ³POU FMMFT Â OPVT BQQSFOESF -B DPPQÂ©SBUJPO -FT GPVSNJT GPOU QBTTFS MÑ³JO UÂ©SÂªU DPMMFDUJG BWBOU MÑ³JOUÂ©SÂªU QBSUJDVMJFS &O NBUJÂ¨SF EF DJSDVMBUJPO SPVUJÂ¨SF OPVT JOTQJSFS EF MFVS MPHJRVF TFSBJU USÂ¨T VUJMF 1BS FYFNQMF QPVS SÂ©HVMFS MÑ³BDDÂ¨T BVY BVUPSPVUFT MF OPNCSF EÑ³BVUPNPCJMJTUFT TVS VO JUJOÂ©SBJSF USÂ¨T FNQSVOUÂ© EFWSBJU ÂªUSF DPOUSÂ´MÂ© -FT GPVSNJT SÂ©HVMFOU EÑ³FMMFT NÂªNFT MFVST GMVY EF DJSDVMB UJPO %BOT MB QMVQBSU EFT DBT MB WJUFTTF NPZFOOF TVS BVUPSPVUF BVHNFOUFSBJU TFOTJ CMFNFOU TJ MÑ³PO FNQÂªDIBJU VO UPVU QFUJU OPNCSF EÑ³BVUPNPCJMJTUFT EF WFOJS HPOGMFS VO GMVY EF DJSDVMBUJPO RVJ BDDVTF EÂ©KÂ VO USPQ QMFJO .BJT RVJ TFSBJU QSÂªU Â TF DPOGPSNFS Â EF UFMMFT SFTUSJDUJPOT "WPOT OPVT EPOD CFTPJO EF QMVT EF SÂ¨HMFT +F OF TBJT QBT $F TPOU TVSUPVU MFT NPNFOUT EÑ³IÂ©TJUBUJPO RVJ QPTFOU QSPCMÂ¨NF 1SFOF[ EFVY WPJFT EF DJSDVMBUJPO RVJ TF SFTTFSSFOU QPVS OÑ³FO GPSNFS QMVT RVÑ³VOF 1PVS MFT VOT JM FTU RVFTUJPO EF KVTUJDF TPDJBMF 1PVS MFT BVUSFT JM TÑ³BHJU EF TÑ³JOTÂ©SFS BV QPJOU EF SÂ©USÂ© DJTTFNFOU FU QBT BWBOU *M TFSBJU QSÂ©GÂ©SBCMF EF NPEJGJFS MF TZTUÂ¨NF EF NBOJÂ¨SF Â Â©WJUFS DFT NPNFOUT EÑ³JOEÂ©DJTJPO DPMMFDUJWF XXX UPNWBOEFSCJMU DPN

BMW Top Cover

Le plaisir de conduire

EGDI:8I>DC! 8DC;>6C8:! HwGwC>Iw# A6 ?D>: :HI 9¾ÎIG: E6G;6>I:B:CI 6HHJGw# Protéger la voiture de vos rêves tout autant que ses passagers grâce à une police d’assurance portant la griffe BMW ? Voilà une idée lumineuse! Outre le service irréprochable et la franchise exclusive de 0%, avec BMW Top Cover, vous profitez également d’un rapport qualité/prix inégalé! Sans compter les autres atouts tout aussi remarquables. Un exemple ? Si vous souscrivez BMW Top Cover au moment de l’achat de votre nouveau bijou, vous pouvez bénéficier du BMW Full Replacement. Ce dernier vous donne droit à un exemplaire identique et flambant neuf de votre BMW en cas de vol ou de perte totale endéans les 18 mois. Convaincu ? Surfez donc sur www.bmwtopcover.be ou appelez le 0800/40 530 pour demander, sans engagement, un calcul de la prime.

A6 ?D>: :HI 7BL IDE 8DK:G#

«BMW Top Cover» est la dénomination commerciale d’un produit d’assurance auto de ACTEL SA, compagnie d’assurance agréée sous le code 2279 (Décision de la CBFA du 22.12.2003, M.B. du 04.02.2004) pour les branches 1, 3 et 10a – rue de Ligne 13, 1000 Bruxelles - 0440 903 008 RPM Bruxelles. La distribution est assurée par ACTEL SA - Membre du groupe P&V - Tél. 02/282.36.17 Fax. 02/282.36.00 - Banque 879-1500104-67 - www.bmwtopcover.be

#0;"3

-" '63*& &41"(/0-& 463 50*-& MѳPDDBTJPO EF MB QS©TJEFODF FTQBHOPMF EV $POTFJM EF Mѳ6OJPO FVSPQ©FOOF #P[BS NFU MѳIPOOFVS MѳBSU BUZQJRVF WFOV EV QBZT EV TPMFJM 2VѳJM TѳBHJTTF EV (SFDP PV EF TFT DPOGS¨SFT DPOUFNQPSBJOT Mѳ©NPUJPO FTU BV SFOEF[ WPVT 5FYUF 1 & 5 & 3 7 " / % : $ , 1IPUPT -F (SFDP . 6 4 & 0 % & - ( 3 & $ 0 5 0 - & % 0

-ѳJSPOJF B WPVMV RVF -F (SFDP ѭ O© FO $SÜF TPVT MF OPN EF %PNFOJLPT 5IFPUPL³QPVMPT ѭ EFWJFOOF MѳVO EFT Q¨SFT GPOEBUFVST EF Mѳ DPMF FTQB HOPMF 1PVSUBOU BV DS©QVTDVMF EF TB WJF ѭ BV E©CVU EV F TJ¨DMF ѭ QFSTPOOF OѳBV SBJU PT© MVJ QS©EJSF VO UFM BWFOJS $ѳFTU RVѳ Mѳ©QPRVF MB NPEF ©UBJU QMVUÚ BV DBSBWB HJTNF FNQSFJOU EF OBUVSBMJTNF -B WJTJPO EV (SFDP TF TJUVBJU BVY BOUJQPEFT EF DF NPVWFNFOU TFT ZFVY MѳFYQSFTTJPO EFT ©NPUJPOT JNQPSUBJU CFBVDPVQ QMVT RVF MB SFQS©TFOUBUJPO GJE¨MF EF MB OBUVSF *M GBVESB BUUFOESF MF E©CVU EV F TJ¨DMF QPVS RVF -F (SFDP TPJU S©IBCJMJU© QBS MFT DVCJTUFT FU MFT FYQSFTTJPOOJTUFT RVJ MF QSJSFOU QPVS NPE¨MF -B MJC©SBUJPO UPUBMF EFT GPSNFT QSJ T©F QBS MѳBSUJTUF TѳFYQSJNF QMFJOFNFOU EBOT MF QPJOU EѳPSHVF EF MѳFYQPTJUJPO #P[BS MB T©SJF Eѳ"QÚSFT &M "QPTUPMBEP -FT RVFM RVFT ýVWSFT JOBDIFW©FT RVJ FO GPOU QBSUJF QFSNFUUFOU EF NJFVY DPNQSFOESF MB UFDI OJRVF EV NB®USF -B DPOUSPWFSTF OѳB QBT TFVMFNFOU NBS RV© MB WJF EV (SFDP &O FMMF B BVTTJ FOUPVS© MB TPSUJF FO TBMMFT EV GJMN -ѳ"OHF FYUFSNJOBUFVS &M OHFM &YUFSNJOBEPS EV

DJO©BTUF TVSS©BMJTUF FTQBHOPM -VJT #V±VFM -F S©BMJTBUFVS Z ©HSBUJHOF JNQJUPZBCMFNFOU MF WFSOJT EFT DPOWFOBODFT CPVSHFPJTFT -F DPNNJTTBJSF 'FSOBOEP $BTUSP 'M³SF[ B WPVMV SFDS©FS MѳBNCJBODF PQQSFTTBOUF EV GJMN EBOT MѳFYQPTJUJPO ©QPOZNF RVѳJM DPOTBDSF MѳBSU FTQBHOPM DPOUFNQPSBJO -ѳFTQBDF EF QS©TFOUBUJPO EFT ýVWSFT TF USBOTGPSNF FO UBCMFBV WJWBOU TJ¨HF EF MB DPOGSPOUBUJPO EF WJTJPOT EJTQBSBUFT "VY D´U©T EѳBSUJTUFT QMBTUJRVFT UFMT RVF %JPOJTJP (PO[¡MF[ &OSJRVF .BSUZ #FSOBSE 3PJH FU +BDPCP $BTUFMMBOP 'M³SF[ B JOWJU© EFT BSUJTUFT EF QFSGPSNBODF DPNNF 3PESJHP (BSDJB -B3JCPU FU &TUIFS 'FSSFS -FVS QS© TFODF SFOGPSDF FODPSF MB UFOTJPO FU MB UI©¢USBMJU© EF MѳFOTFNCMF

-ѳFYQPTJUJPO &M (SFDP %PNFOJLPT 5IFPUPLPQPVMPT FTU PVWFSUF KVTRVѳBV NBJ &M OHFM &YUFSNJOBEPS " 3PPN GPS 4QBOJTI $POUFNQPSBSZ "SU TF E©SPVMFSB EV BWSJM BV KVJO 1MVT EѳJOGPT XXX CP[BS CF

4J WPVT ªUFT BNBUFVS EF DVMUVSF FU RVF WPVT EJTQPTF[ EF MB #.8 .PCJMJUZ $BSE PV #.8 4FSWJDF $BSE WPVT C©O©GJDJF[ EF EF S©EVDUJPO TVS UPVUFT MFT QSPEVD UJPOT QSPQSFT EF #P[BS TVS TJNQMF QS©TFOUBUJPO EF WPUSF DBSUF 1PVS MF QSPHSBNNF DPNQMFU EFT BDUJWJU©T EF #P[BS TVSGF[ TVS XXX CP[BS CF 7PVT USPVWFSF[ UPVUFT MFT JOGPSNBUJPOT DPODFSOBOU MB #.8 .PCJMJUZ $BSE DIF[ WPUSF DPODFTTJPOOBJSF #.8

#.8.BHB[JOF

k 3JFO EF QMVT FOOVZFVY RVÑ³VO BSUJTUF RVJ B EÂ©KÂ SÂ©BMJTÂ© UPVT TFT EÂ©TJST { %JYJU 5YPNJO #BEJPMB VO #BTRVF QPVS RVJ MÑ³BSUJTUF OÑ³B QBT Â DBDIFS TFT JNQFSGFDUJPOT -Ñ³JOTUBMMBUJPO 3ÂªWF 4BOT 'JO JMMVTUSF DFUUF WJTJPO

4BJOU +BDRVFT MF .BKFVS MÑ³VO EFT EPV[F BQÂ´USFT JNNPSUBMJTÂ©T TVS UPJMF QBS -F (SFDP EBOT TFT EFSOJFST KPVST 6O JNQSFTTJPOOBOU UFTUBNFOU BSUJTUJRVF FU Â FO DSPJSF MFT DPOOBJTTFVST TB QMVT CFMMF Ã½VWSF

#FSOBSEÂ 3PJH FTU GBTDJOÂ© QBS MF QIJMPTPQIF -VEXJH 8JUUHFOTUFJO %BOT MÑ³JOTUBMMBUJPO 8JUUHFOTUFJO )PVTF JM UFOUF EF NPEÂ©MJTFS MFT SPVBHFT EF MÑ³FTQSJU EV HÂ©OJF

#.8.BHB[JOF

1"/03"." + V N Q J O H E Ñ³" O W F S T )PDLFZ #.8 (PMGTQPSU

-FT NFJMMFVST DBWBMJFST EF MB QMBOÂ¨UF FU MFVST NFJMMFVSFT NPOUVSFT OF SBUFSBJFOU QPVS SJFO BV NPOEF MÑ³Â©QSFVWF BOWFSTPJTF

#.8.BHB[JOF

-& +6.1*/( "6 '*- %& -Ñ³&"6 -FT DIBNQJPOT JOUFSOBUJPOBVY FU MFVST NFJMMFVST DIFWBVY 6O DPODPVST EÑ³Â©MÂ©HBODF QPVS MÑ³VO EFT Â©WÂ©OFNFOUT MFT QMVT QSFTUJHJFVY EBOT MF NPOEF EV KVNQJOH 4VS MB SJWF ESPJUF EF MÑ³&TDBVU 7PJMÂ DF RVÑ³FTU MF +VNQJOH EÑ³"OWFST 6O DPODPVST RVJ B MF WFOU FO QPVQF 5FYUF - & 0 % & 7 0 4

-FT RVBJT EF MÑ³&TDBVU TFT JNNFOTFT HSVFT UÂ©NPJHOBOU EÑ³VO IÂ©SJUBHF BSDIÂ©PMPHJRVF JOEVTUSJFM %FT QÂ©OJDIFT FU EFT USPJT NÂ¢UT TF MBJTTBOU HMJT TFS BV GJM EF MÑ³FBV $F EÂ©DPS OPTUBMHJRVF FU JNQSFTTJPOOBOU DÑ³FTU DFMVJ EBOT MFRVFM TF SBTTFNCMFOU EFQVJT USPJT BOT EFT NJMMJFST EF TQFDUBUFVST QPVS BTTJTUFS Â VO KVNQJOH PSHBOJTÂ© BV DÃ½VS EF MB DJUÂ© BOWFSTPJTF %FT BOOÂ©FT BQSÂ¨T MFT KPVST EF HMPJSF EV +VNQJOH EÑ³"OWFST BV 4QPSUQBMFJT VOF Â©RVJQF EÑ³PSHBOJTBUFVST NPUJWÂ©T FTU QBSWF OVF Â SFOPVFS BWFD VO QBTTÂ© SFTUÂ© HSBWÂ© EBOT MFT NÂ©NPJSFT &U DFUUF SÂ©TVSSFDUJPO FTU VO NJSBDMF -F +VNQJOH EÑ³"OWFST OPVWFMMF NPV UVSF BUUJSF BVUBOU MFT GBOBUJRVFT EF MB EJT DJQMJOF RVF MFT DIBMBOET JOUÂ©SFTTÂ©T &O CPOOF DPNQBHOJF FU BWFD EFT SFMBUJPOT EÑ³BGGBJSFT JMT QPVSSPOU SFNFUUSF MFVS TPSU FOUSF MFT NBJOT EV DIFG DPR FU EV TPN NFMJFS BWFD VOF WVF QSJWJMÂ©HJÂ©F TVS MÑ³BSÂ¨OF 1PVSUBOU MF TQPSU FTU QSJPSJUBJSF EBOT DF MJFV VOJRVF 6O TQPSU BVUIFOUJRVF &U VO TQPSU EF IBVU OJWFBV TVS MF QMBO JOUFS OBUJPOBM -FT NFJMMFVST DBWBMJFST EF MB QMBOÂ¨UF FU MFT NÂ©EBJMMFST EÑ³PS PMZNQJRVFT OF WPV ESBJFOU SBUFS QPVS SJFO BV NPOEF DFUUF

Â©QSFVWF BOWFSTPJTF &U QPVS MÑ³PDDBTJPO JMT TPSUFOU EFT Â©DVSJFT MFVS NFJMMFVSF NPOUVSF -FVS QSÂ©TFODF FTU FO HSBOEF QBSUJF Â NFUUSF Â MÑ³BDUJG EF MB SÂ©QVUBUJPO FU EV QPVWPJS EF QFSTVBTJPO EF 4UBOOZ 7BO 1BFTTDIFO NÂ©EBJMMFS EF CSPO[F Â .POUSÂ©BM 4UBOOZ 7BO 1BFTTDIFO GBJU FO FGGFU QBSUJF EFT GPSDFT WJWFT EF DFUUF HSBOEF GÂªUF EF MÑ³Â©RVJUBUJPO k 4J UPVT DFT HSBOET OPNT WJFOOFOU DIF[ OPVT DÑ³FTU MF GSVJU EÑ³VO SFTQFDU NVUVFM *MT NF DPOOBJTTFOU FU TBWFOU DF RVÑ³"OWFST QFVU MFVS PGGSJS $IBRVF BOOÂ©F OPVT FTTBZPOT EF QSPHSFTTFS /PUSF DPODPVST FTU BVKPVSEÑ³IVJ DPUÂ© RVBUSF Â©UPJMFT -FT QSJNFT TPOU QMVT RVÑ³BUUSBZBOUFT QVJTRVÑ³FMMFT TÑ³Â©MÂ¨WFOU Â FVSPT DF RVJ QFSNFU EÑ³BWPJS EBOT OPUSF NFFUJOH MFT 3POBMEP PV MFT .FTTJ EF MÑ³Â©RVJUBUJPO &U OPVT GBJTPOT BQQFM Â VO TQÂ©DJBMJTUF SFOPNNÂ© QPVS USBDFS MF QBSDPVST $F GBDUFVS B UPVUF TPO JNQPSUBODF { $FU BSDIJUFDUF DÑ³FTU MF DJUPZFO EF ,BQFMMFO .BSD 7ZHI BV TPMJEF QBMNB SÂ¨T JOUFSOBUJPOBM 1PVS MVJ DFUUF UÂ¢DIF FTU VOF CÂ©OÂ©EJDUJPO k $FMB QFVU TFN CMFS Â©USBOHF NBJT JM FTU BTTF[ GBDJMF EF EÂ©GJOJS VO QBSDPVST EFTUJOÂ© BVY NFJMMFVST DBWBMJFST FU BVY NFJMMFVST DIFWBVY 1MVT MFT QBSUJDJQBOUT TPOU EF RVBMJUÂ© QMVT OPNCSFVTFT TPOU MFT QPTTJCJMJUÂ©T 4J MÑ³PO OF QFVU QBT ESFTTFS EFT PCTUBDMFT QMVT IBVUT PV QMVT MBSHFT OPVT QPVWPOT QBS DPOUSF JOUÂ©HSFS EFT PCTUBDMFT QMVT UFDI OJRVFT RVJ QFSNFUUFOU EF QSPQPTFS VOF Â©QSFVWF QMVT SBGGJOÂ©F FU BV GJOBM QMVT TQFDUBDVMBJSF 1PVS VO DPODFQUFVS EF QBSDPVST "OWFST FTU MF Ñ²OFD QMVT VMUSBÑ³ { %V BV BWSJM $IBRVF KPVSOÂ©F TF UFSNJOF QBS VO HSBOE Â©WÂ©OFNFOU MFT .BTUFST MF Ñ²4JY #BSTÑ³ MF QBSDPVST EF DIBTTF FU EJNBODIF MF (SBOE 1SJY XXX KVNQJOHBOUXFSQFO CF #.8.BHB[JOF

1"/03"." +VNQJOH "OUXFSQFO )PDLFZ #.8 (PMGTQPSU

#.8.BHB[JOF

#.8 4Ñ³&/("(& %"/4 -&

)0$,&: 5FYUF $ ) 3 * 4 5 0 1 ) & 8 & & 3 5 4

"DUJG EFQVJT QMVT EF BOT EBOT MF NPOEF EV HPMG WJB MB #.8 (PMG $VQ #.8 #FMVY DSÂ©F MB #.8 )PDLFZ 4DIPPM FU EFWJFOU QBSUFOBJSF EF MÑ³"TTPDJBUJPO 3PZBMF #FMHF EF )PDLFZ 6O FOHBHFNFOU RVJ OF QBTTF QBT JOBQFSÂ§V EBOT VO TQPSU FO QMFJO FTTPS

1BSUFOBJSF BDUJG EF QMVTJFVST EJTDJQMJOFT TQPSUJWFT #.8 #FMVY B TPVIBJUÂ© VOJS TPO JNBHF Â DFMMF EF MÑ³"TTPDJBUJPO 3PZBMF #FMHF EF )PDLFZ "3#) &O UBOU RVF TQPOTPS QSJODJQBM #.8 #FMVY TPVUJFOESB MÑ³"3#) EBOT TPO BDUJPO WFST MFT DMVCT FU MFT Â©RVJQFT OBUJPOBMFT EBNFT FU NFTTJFVST 1PVS MB GJMJBMF CFMHP MVYFN CPVSHFPJTF EV DPOTUSVDUFVS NVOJDIPJT DF QBSUFOBSJBU FTU MÑ³PDDBTJPO EF UPVDIFS VO QVCMJD BDUJG TF SFUSPVWBOU EBOT MFT WBMFVST EF MB NBSRVF Â MÑ³IÂ©MJDF k -F IPDLFZ SFODPOUSF QBSGBJUFNFOU MFT WBMFVST EF #.8 DPNNF MF EZOBNJTNF MF GBJS QMBZ FU MB WPMPOUÂ© EF TF EÂ©QBTTFS %F QMVT MF UIÂ¨NF DFOUSBM EF MB OPVWFMMF DPNNVOJDBUJPO EF #.8 BYÂ© BVUPVS EF MB KPJF SFODPOUSF MF TFOUJNFOU QBSUBHÂ© QBS EF OPNCSFVY IPDLFZFVST RVBOE JMT Â©WPMVFOU TVS VO UFSSBJO { B EÂ©DMBSÂ© 1IJMJQQ WPO 4BIS "ENJOJTUSBUFVS EÂ©MÂ©HVÂ© Ñ %JSFDUFVS HÂ©OÂ©SBM EF #.8 (SPVQ #FMVY "WFD MF MBODFNFOU EF OPVWFBVY NPEÂ¨MFT EPOU MB #.8 4Â©SJF (SBO 5VSJTNP PV MB #.8 9 #.8 TÑ³PVWSF Â VO QVCMJD Â MB SFDIFSDIF EF WPJUVSFT PGGSBOU VO HSBOE QMBJTJS EF DPOEVJSF UPVU FO SÂ©EVJTBOU MFT Â©NJTTJPOT FU MB DPOTPNNBUJPO HSÂ¢DF BV QSPHSBNNF #.8 &GGJDJFOU%ZOBNJDT 1BSUFOBJSF EFT +FVY 0MZNQJRVFT EF -POESFT FO #.8 FTQÂ¨SF RVF TPO TVQQPSU BJEFSB MFT Â©RVJQFT OBUJPOBMFT CFMHFT EBNFT FU NFTTJFVST Â TF RVBMJGJFS QPVS MF QMVT HSBOE Â©WÂ©OFNFOU TQPSUJG NPOEJBM #.8 )PDLFZ 4DIPPM &O DPMMBCPSBUJPO BWFD MÑ³"3#) #.8 #FMVY DSÂ©F Â©HBMFNFOU MB #.8 )PDLFZ 4DIPPM $FUUF Â©DPMF FTU EFTUJOÂ©F BVY KFVOFT IPDLFZFVST HBSÂ§POT FU GJMMFT EF Â BOT QFOEBOU MFT DPOHÂ©T TDPMBJSFT 4PO PCKFDUJG FTU EÑ³PGGSJS BVY KFVOFT VO FODBESFNFOU QSPGFTTJPOOFM NBJT BVTTJ EF MFVS BQQSFOESF MB EJTDJQMJOF MB UFDIOJRVF FU MF SFTQFDU " UFSNF DFUUF Â©DPMF QFSNFUUSB BV IPDLFZ CFMHF EF QPVWPJS DPNQUFS TVS VO WJWJFS EF KFVOFT FTQPJST TVTDFQ UJCMFT EF QPSUFS QMVT IBVU FODPSF MFT DPVMFVST OBUJPOBMFT -B EJSFDUJPO UFDIOJRVF EF MB #.8 )PDLFZ 4DIPPM TFSB BTTVSÂ©F QBS "MBJO (FFOT EPOU MFT DPNQÂ©UFODFT EF DPBDI BVY OJWFBVY OBUJPOBM FU JOUFSOBUJPOBM TFSPOU NJTFT Â QSPGJU QBS MFT KFVOFT TQPSUJGT XXX CNXIPDLFZTDIPPM CF

#.8.BHB[JOF

1"/03"." +VNQJOH "OUXFSQFO )PDLFZ #.8 (PMGTQPSU

5&& 0''

1063 -" #.8 (0-' $61

-B QMVT QSJTÂ©F EFT DPNQÂ©UJUJPOT EF HPMG QPVS BNBUFVST SFQBSU QPVS VOF WJOHU EFVYJÂ¨NF Â©EJUJPO 6O FODBESFNFOU QSPGFTTJPOOFM QPVS HBSBOUJS VOF KPJF NBYJNBMF TVS MFT HSFFOT

#.8.BHB[JOF

1SJT FO DIBSHF Â MFVS EPNJDJMF FU SBNFOÂ©T UBSE MF TPJS QBS MFT DIBVGGFVST EF #.8 4Â©SJF MFT GJOBMJTUFT CFMHFT POU WÂ©DV VOF KPVSOÂ©F EF SÂªWF

5FYUF $ ) 3 * 4 5 0 1 ) & 8 & & 3 5 4

$FMB GBJU BOT RVF DIBRVF BOOÂ©F MB #.8 (PMG $VQ SFWJFOU TVS MFT QMVT CFBVY QBSDPVST EF #FMHJRVF &U QPVSUBOU Â DIBRVF GPJT MF UPVSOPJ MF QMVT BQQSÂ©DJÂ© EFT BNBUFVST SÂ©VTTJU Â MFT Â©UPO OFS &EJUJPO BQSÂ¨T Â©EJUJPO MFT PSHBOJTBUFVST TBWFOU DPNNFOU TÂ©EVJSF MFT QMVT CMBTÂ©T EFT DPNQÂ©UJUFVST -B #.8 (PMG $VQ EPJU BJOTJ DPOUJOVFMMFNFOU JOOPWFS BGJO EF TBUJTGBJSF MFT EFNBOEFT TBOT DFTTF DSPJTTBOUFT EF QBSUJDJQBUJPO "QSÂ¨T BWPJS BVHNFOUÂ© MF OPNCSF EF UPVSOPJT MFT PSHBOJTBUFVST POU QSJT MB EÂ©DJTJPO EF GBJSF QBSSBJOFS DFSUBJOT UPVSOPJT EF DMVCT QBS MFT DPODFTTJPO OBJSFT #.8 $FUUF OPVWFBVUÂ© B QFSNJT Â EF USÂ¨T OPNCSFVY KPVFVST EÑ³BWPJS VOF JEÂ©F EF DF Â RVPJ SFTTFNCMFOU MFT DÂ©MÂ¨CSFT UPVSOPJT EF RVBMJGJDBUJPO EF MB #.8 (PMG $VQ "V UPUBM VOF USFOUBJOF EF DMVCT POU Â©UÂ© WJTJUÂ©T FO DF RVJ DPOTUJUVF VO SFDPSE QPVS MF QMVT QSJTÂ© EFT UPVSOPJT SÂ©TFSWÂ©T BVY BNBUFVST &O MB #.8 (PMG $VQ TFSB Â MB GPJT FYDMVTJWF FU PVWFSUF 6OF GPJT EF QMVT MFT DMJFOUT FU SFMBUJPOT EFT DPODFTTJPOOBJSFT QSPGJUFSPOU EFT UPVSOPJT FYDMVTJGT RVF DFT EFSOJFST PSHBOJTF SPOU TVS RVFMRVFT VOT EFT QMVT CFBVY QBSDPVST EV 3PZBVNF /Â©BONPJOT EFWBOU MF TVDDÂ¨T SFNQPSUÂ© FO RVFMRVFT UPVS OPJT EF DMVCT TFSPOU DFUUF BOOÂ©F FODPSF QBSSBJOÂ©T QBS DFSUBJOT DPODFTTJPOOBJSFT #.8 -FT HBHOBOUT EF DFT UPVSOPJT TFSPOU BMPST JOWJUÂ©T Â QSFOESF QBSU Â EFT UPVSOPJT k PQFO { PÂ¹ JMT UFOUF SPOU EF TF RVBMJGJFS QPVS MB GJOBMF OBUJPOBMF $Ñ³FTU BV UFSNF EF DF HSBOE SFOEF[ WPVT RVF MFT SFQSÂ©TFOUBOUT EF MB #FMHJRVF QPVS MB GJOBMF NPOEJBMF TFSPOU DPOOVT 1PVS EFT SBJTPOT DMJNBUJRVFT MB GJOBMF NPOEJBMF B EÂ©TPSNBJT MJFV BV EÂ©CVU EF MÑ³BOOÂ©F TVJWBOUF TPJU FO NBST QPVS DFUUF Â©EJUJPO /PVT SFWJFOESPOT TVS MFT SÂ©TVM UBUT EF OPT SFQSÂ©TFOUBOUT EBOT VOF QSPDIBJOF Â©EJUJPO

5SPJT ê &#x2039; OBMJTUFT CFMHFT Â MB ê &#x2039; OBMF NPOEJBMF $Ñ³FTU Â VOF GJOBMF EJTQVUÂ©F FO USPJT KPVST DPSSFTQPO EBOU BVY USPJT DBUÂ©HPSJFT RVF MFT RVBMJGJÂ©T EFT UPVSOPJT EF TÂ©MFDUJPO POU QV QBSUJDJQFS FO PDUPCSF EFSOJFS BV 3PZBM ;PVUF (PMG $MVC 3;($ 1SJT FO DIBSHF Â MFVS EPNJDJMF FU SBNFOÂ©T UBSE MF TPJS QBS MFT DIBVGGFVST EF #.8 4Â©SJF MFT GJOBMJTUFT CFMHFT POU WÂ©DV VOF KPVSOÂ©F EF SÂªWF TVSUPVU QPVS 7Â©SPOJRVF EF #SPRVFWJMMF 4UÂ©QIBOF %BMJNJFS .FO *

FU 0MJWJFS 4DIMJN .FO ** RVJ POU Â©UÂ© MFT MBVSÂ©BUT EF DFT GJOBMFT *MT POU SÂ©VTTJ Â TÑ³JNQPTFS BQSÂ¨T BWPJS QBTTÂ© MF DBQ EFT UPVSOPJT EF RVBMJGJDBUJPO FU EFT EFNJ GJOBMFT EJTQVUÂ©FT TVS MFT TQMFOEJEFT QBSDPVST k SPZBVY { EV )BJOBVU -BUFN ,BQQFMFO FU 4QB $F TPOU FVY RVJ POU QSJT QBSU Â MB GJOBMF NPOEJBMF EJTQVUÂ©F EÂ©CVU NBST TVS MF QBSDPVST EF 'BO DPVSU FO "GSJRVF EV 4VE "WBOU DFMB JMT POU QV GÂªUFS MFVS UJUSF MPST EÑ³VO EÂ®OFS BV 3;($ QSÂ©TJEÂ© QBS 1IJMJQQ WPO 4BIS "ENJOJTUSBUFVS EÂ©MÂ© HVÂ© %JSFDUFVS HÂ©OÂ© SBM EF #.8 (SPVQ #FMVY

-FT WJTBHFT SBZPOOBOUT EFT GJOBMJTUFT CFMHFT EF MB #.8 (PMG $VQ

$PNNF MF WFVU VOF USBEJUJPO CJFO BODSÂ©F MFT QBSUJDJQBOUT EF MB #.8 (PMG $VQ TPVUJFOESPOU EFVY Ã½VWSFT EF CJFOGBJTBODF MB 'POEBUJPO 4BNJMJB FU MÑ³"TTPDJBUJPO #FMHF EFT 1BSBMZTÂ©T

XXX CNX CF HPMGDVQ XXX CNX MV HPMGDVQ

#.8.BHB[JOF

"$5*7& -*'&

7FTUF 4XFBU . QPVS IPNNF FO DPUPO QJRVÂ© BWFD DPM SFMFWÂ© FU MPHP TVS MB NBODIF ESPJUF 4 Ñ 99- $IFNJTF GFNNF . BWFD GFSNFUVSF Â©DMBJS MBUÂ©SBMF QPVS VOF DPVQF QBSGBJUF EFTTPVT EF DPM SPVHF FU QPJHOFUT SPVHFT 94 Ñ 9- 4BD $BCJOF . FO DVJS TQPSUJG FU Â©MÂ©HBOU BWFD QJFET FO DBPVUDIPVD Â QPSUFS TVS MÑ³Â©QBVMF PV Â MB NBJO

.POUSF DISPOPHSBQIF TQPSU . BWFD UFDIOPMPHJF RVBSU[ TVJTTF FU CSBDFMFU FO DVJS MPHP . TVS MF DBESBO FU MPHP #.8 Â MÑ³BSSJÂ¨SF 1PSUFGFVJMMF FO DVJS OPJS BWFD EPVCMVSF FO DVJS SPVHF OPNCSFVY DPNQBSUJNFOUT QPVS DBSUFT FU QPSUF NPOOBJF JOUÂ©HSÂ© -PHP . HSBWÂ© FO SFMJFG FO CBT Â ESPJUF TVS MB GBDF BWBOU CSPDIF FO NÂ©UBM #.8 Â MÑ³JOUÂ©SJFVS 4OFBLFST BWFD UBMPO FO MPPL NÂ©UBM MPHP #.8 TVS MF UBMPO FU MPHP #.8 TVS MFT GFSNFUVSFT Ñ

#.8.BHB[JOF

-B HBNNF #.8 . FTU TZOPOZNF EF QVS QMBJTJS EF DPOEVJSF -B OPVWFMMF DPMMFDUJPO MJGFTUZMF . SFè¶&#x2019; Â¨UF QBSGBJUFNFOU MÑ³Â©UBU EÑ³FTQSJU EF MB EZOBTUJF #.8 . 5PVT MFT BSUJDMFT TPOU GBCSJRVÂ©T EBOT EFT NBUJÂ¨SFT EF QSFNJÂ¨SF RVBMJUÂ© TÂ©MFDUJPOOÂ©FT BWFD MF QMVT HSBOE TPJO 2VBTJ UPVT BSCPSFOU MF QSÂ©DJFVY MPHP . FU BMMJFOU MF SPVHF FU MF OPJS TPVMJHOBOU FODPSF EBWBOUBHF MFT BNCJUJPOT TQPSUJWFT FU NVTDMÂ©FT EF MB DPMMFDUJPO

$0--&$5*0/

#.8.BHB[JOF

4Â&#x2030;$63*5Â&#x2030; -& $0/%6$5&63 %&.&63& 3&410/4"#-&

%BOOZ +BOTTFOT

#.8 QSÂ©TFOUF TBOT DFTTF EFT Â©RVJQFNFOUT EF TÂ©DVSJUÂ© EF IBVUF UFDIOPMPHJF &U Â DFT Â©RVJQFNFOUT MÑ³VUJMJTBUFVS Ñ²TÑ³IBCJUVFÑ³ SBQJEFNFOU /F EFWSJPOT OPVT QBT TVSUPVU EFNFVSFS BUUFOUJGT 5FYUF " - & 9 7 " / % & / # & 3 ( ) & 1IPUP 5 ) 0 . " 4 % & # 0 & 7 & 3

3JFO OF QSPVWF RVÑ³VO DPOEVDUFVS GBJU QSFVWF EF QMVT EÑ³JNQSVEFODF QBSDF RVÑ³JM EJTQPTF TVS TB WPJUVSF EÑ³VO QMVT HSBOE OPNCSF EÑ³Â©RVJQFNFOUT EF TÂ©DVSJUÂ© "V DPOUSBJSF MÑ³JOWFTUJTTFNFOU RVÑ³JM B DPOTFOUJ QPVS VOF WPJUVSF CÂ©OÂ©GJDJBOU EÑ³VOF UFDI OPMPHJF EF QPJOUF FO NBUJÂ¨SF EF TÂ©DVSJUÂ© UÂ©NPJHOF EF MÑ³JNQPSUBODF RVÑ³JM BDDPSEF Â DFMMF DJ -FT WJSBHFT TPOU SBDDPVSDJT /PVT DPOOBJTTJPOT EÂ©KÂ MF Ñ²WPMBOU JOUFMMJHFOUÑ³ MF TZTUÂ¨NF "DUJWF 4UFF SJOH -F WFOU MBUÂ©SBM QFVU EÂ©TÂ©RVJMJCSFS VOF WPJUVSF -F TZTUÂ¨NF "DUJWF 4UFFSJOH SBNÂ¨OF BVUPNBUJRVF NFOU MB WPJUVSF TVS TB USBKFDUPJSF OPSNBMF TBOT BVDVO NPVWFNFOU BV WPMBOU &O DBT EF GSFJOBHF BWFD VOF SPVF TVS VO SFWÂªUFNFOU HMJTTBOU FU MÑ³BVUSF TVS VO TPM PGGSBOU VOF CPOOF BEIÂ©SFODF MB WPJUVSF EÂ©WJF EF TB USBKFDUPJSF -F TZTUÂ¨NF "DUJWF 4UFFSJOH FNQÂªDIF DFU Â©DBSU &O DBT EF TVSWJSBHF MF TZT UÂ¨NF DPSSJHF MB USBKFDUPJSF FO JOUFSWFOBOU BV OJWFBV EFT SPVFT BWBOU "VKPVSEÑ³IVJ #.8 QSPQPTF MF TZT UÂ¨NF *OUFHSBM "DUJWF 4UFFSJOH RVJ BHJU TVS MFT RVBUSF SPVFT %BOT VO WJSBHF OÂ©HPDJÂ© Â NPJOT EF LN I MFT SPVFT BSSJÂ¨SF CSBRVFOU MÂ©HÂ¨SFNFOU EBOT MB EJSFD UJPO PQQPTÂ©F BVY SPVFT BWBOU -B NBOJBCJMJUÂ© EF MB WPJUVSF FTU BJOTJ SFOGPSDÂ©F " QMVT IBVUF WJUFTTF MFT SPVFT BSSJÂ¨SF CSBRVFOU EBOT MB NÂªNF EJSFDUJPO RVF MFT SPVFT BWBOU DF RVJ SFOGPSDF MB TUBCJMJUÂ© MPST EÑ³VO DIBOHFNFOU EF CBOEF EF DJSDVMBUJPO

-F QPJET EÑ³VOF WPJUVSF EPJU ÂªUSF Â©RVJUBCMFNFOU SÂ©QBSUJ FOUSF MFT RVBUSF SPVFT "JOTJ DIBRVF SPVF CÂ©OÂ©GJDJF EÑ³VOF BEIÂ©SFODF NBYJNBMF &O WJSBHF VOF WPJUVSF TVCJU VO QIÂ©OPNÂ¨OF EF SPVMJT FU MB QSFT TJPO TVS MFT SPVFT EF ESPJUF PV EF HBVDIF TF SÂ©EVJU FO DPOTÂ©RVFODF "WFD MF TZTUÂ¨NF "EBQUJWF %SJWF MÑ³Â©RVJMJCSF FTU QSÂ©TFSWÂ© EBOT MFT WJSBHFT "WFD MÑ³Â©DMBJSBHF JOGSBSPVHF MFT QJÂ©UPOT TPOU EÂ©UFDUÂ©T EBOT MÑ³PCTDVSJUÂ© -F TZTUÂ¨NF /JHIU 7JTJPO QFSNFU EF WPJS MFT QJÂ©UPOT MFT DZDMJTUFT FU MFT BOJNBVY KVTRVÑ³Â NÂ¨USFT $F TZTUÂ¨NF BMFSUF MF DPOEVDUFVS TJ MÑ³PCTUBDMF TF TJUVF TVS MB USBKFDUPJSF EV WÂ©IJDVMF .JFVY WPJS QPVS QMVT EF TÂ©DVSJUÂ© -FT QIBSFT "EBQUJWF )FBEMJHIUT TVJWFOU MFT NPVWFNFOUT EV WPMBOU -F EJTQPTJUJG )JHI #FBN "TTJTU EÂ©UFDUF MÑ³BSSJ WÂ©F EÑ³VO WÂ©IJDVMF EBOT MF TFOT PQQPTÂ© FU DPVQF MFT GFVY EF SPVUF BWBOU EF MFT SÂ©BDUJWFS MPSTRVF MÑ³BVUSF WÂ©IJDVMF FTU QBTTÂ© 'SFJOFS Â UFNQT FU EPTFS MF GSFJOBHF FTU FTTFOUJFM QPVS MB TÂ©DVSJUÂ© "WFD MF EJTQPTJUJG 3FBS &OE $PMMJTJPO 8BSOJOH MB WPJUVSF BMFSUF MF DPOEVDUFVS RVBOE JM TF SBQ QSPDIF USPQ EÑ³VO BVUSF WÂ©IJDVMF RVJ GSFJOF -F TZTUÂ¨NF EÂ©DMFODIF VO GSFJOBHF -F DPOEVDUFVS QFVU SÂ©BHJS -B TÂ©DVSJUÂ© OÑ³FTU QBT VO DIPJY DÑ³FTU VOF PCMJHB UJPO QPVS DIBRVF DPOEVDUFVS "VDVO EFT Â©RVJQF NFOUT EF TÂ©DVSJUÂ© OF TPVTUSBJU BV DPOEVDUFVS TB SFT QPOTBCJMJUÂ©

%BOOZ +BOTTFOT FTU MÑ³JOTQFDUFVS QSJODJQBM DFSUJê &#x2039; Â© EV #.8 %SJWFS 5SBJOJOH EFQVJT BOT 1MVT EÑ³JOGPSNBUJPOT TVS DFT DPVST EF DPOEVJUF RVBUSF OJWFBVY EJGGÂ©SFOUT TVS XXX CNX CF ESJWFS USBJOJOH XXX CNX MV ESJWFS USBJOJOH PV QBS F NBJM Â #.8 %SJWFSUSBJOJOH!CNX CF #.8 %SJWFSUSBJOJOH!CNX MV

.*&69 70*3 1063 1-64 %& 4Â&#x2030;$63*5Â&#x2030; Â&#x20AC; HBVDIF -FT QIBSFT Â©MBSHJTTFOU MF GBJTDFBV EÑ³Â©DMBJSBHF EV DÂ´UÂ© WFST MFRVFM MF DPOEVDUFVS UPVSOF MF WPMBOU #.8 /JHIU 7JTJPO MFT DPOEVDUFVST DJSDVMBOU TVS EFT SPVUFT NBM Â©DMBJSÂ©FT TBWFOU QPVSRVPJ JM FTU DSVDJBM EÑ³ÂªUSF BMFSUÂ© EF MB QSÂ©TFODF EF QJÂ©UPOT DZDMJTUFT FU BOJNBVY #.8.BHB[JOF

#.8 9

XXX CNX CF

-F QMBJTJS EF DPOEVJSF

4035*& &/ 4"--&4 -& ."34

-" +0*& "%03& -& (3"/% Â&#x2030;$3"/ -B KPJF DSÂ©F MFT CPOOFT DPOOFYJPOT 2VF DF TPJU EBOT MF OPVWFBV UISJMMFS 5IF (IPTU 8SJUFS PV EBOT MB #.8 9 /PVWFMMF (Â©OÂ©SBUJPO #.8 $POOFDUFE%SJWF GBJU EF DIBRVF USBKFU VOF FYQÂ©SJFODF KVCJMBUPJSF 1FOEBOU RVF MB #.8 9 EÂ©MJWSF TFT QFSGPSNBODFT Â©QPVTUPVè¶&#x2019; BOUFT BWFD VOF SFNBSRVBCMF TPCSJÂ©UÂ© MÑ³JOUFSDPOOFYJPO JOUFMMJHFOUF FOUSF MF DPOEVDUFVS TB WPJUVSF FU MF NPOEF FYUÂ©SJFVS #.8 $POOFDUFE%SJWF WPVT QFSNFU EF WPVT DPODFOUSFS TVS MF QVS QMBJTJS EF DPOEVJSF "WFD MFT UFDIOPMPHJFT MFT QMVT SÂ©DFOUFT DPNNF MF )FBE 6Q %JTQMBZ FU MB DBNÂ©SB EF SFDVM BWFD 5PQ 7JFX TVJWSF MB OBWJHBUJPO FU SFQÂ©SFS MFT PCTUBDMFT OÑ³B KBNBJT Â©UÂ© BVTTJ GBDJMF RVF EBOT MB #.8 9 /PVWFMMF (Â©OÂ©SBUJPO -B KPJF FTU QBTTJPOOBOUF 4PO IJTUPJSF DPOUJOVF TVS IUUQ UIFHIPTUXSJUFS NPWJF DPN

%Â&#x2030;$0673&; -" #.8 9 &5 #.8 $0//&$5&% %3*7& %"/4 5)& ()045 83*5&3 #.8 &Gê&#x2014;&#x2026; DJFOU%ZOBNJDT

*OGPSNBUJPOT FOWJSPOOFNFOUBMFT "3 XXX CNX CF