2021 Universal Registration Document

CORPORATE GOVERNANCE

Administrative and management bodies

4.1.1.3

Changes to the Board of Directors following the Shareholders’ Meeting of May 18, 2022

Independent Directors do not have any relationship with the Company, Group or management that would color their judgment. As to the significance of the business relationship, the Audit Committee carries out a quantitative and qualitative analysis, adopting a wide multicriteria approach in light of the commitments, transaction size for the interested company as well as for the Company. According to the Internal Rules and Procedures, Directors classified as independent make every effort to maintain this status. However, if a Director believes that s/he can no longer or will soon no longer be classified as independent under the AFEP-MEDEF Corporate Governance Code, the Director must immediately notify the Chair. The Chair will add the item to the agenda of the subsequent Board Meeting. Having been on the Board for more than 12 years, John Glen ceased in 2020 to fulfill one of the recommended independence criterion under the AFEP-MEDEF Corporate Governance Code. Nevertheless, the Board of Directors is of the opinion that this is not likely to color John’s Glen’s judgment and has been a valuable asset in this transitional period for the Chair of the Board. Director training Each Director is provided access with additional training on: the Company’s specific characteristics; ● businesses; ● business sector; and ● social and environmental responsibilities. ● In addition, they have access to resources and training provided by several associations of corporate Directors of which the company is a member.

The terms of office of John Glen, Gonzalve Bich, Elizabeth Bastoni and Maëlys Castella expire following the Shareholders’ Meeting of May 18, 2022. The Shareholders will be asked to nominate Nikos Koumettis as an Independent Director and to reappoint Gonzalve Bich, Elizabeth Bastoni and Maëlys Castella as Directors for three years. Subject to the decision of the Board and the approval of the Shareholders’ Meeting, the Board will have the following members: Nikos Koumettis – Director and Independent Non-Executive ● Chair; Gonzalve Bich – Director and Chief Executive Officer; ● Elizabeth Bastoni – Director (independent); ● Vincent Bedhome – Director representing employees; ● Timothée Bich – Director; ● Marie-Aimée Bich-Dufour – Director; ●

Maëlys Castella – Director (independent); ● Marie-Pauline Chandon-Moët – Director; ● Inna Kostuk – Director representing employees; ● Candace Matthews – Director (independent); ● SOCIÉTÉ M.B.D. (Édouard Bich) – Director; ● Jake Schwartz – Director (independent). ●

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