Derichebourg // 2020-2021 Universal Registration Document

4

Board of Directors’ report on corporate governance Executive corporate officers’ declaration concerning transactions in the Company’s shares

Executive corporate officers’ declaration concerning 4.7 transactions in the Company’s shares

During the fiscal year, a sale of Company shares by a corporate officer was declared to the French Financial Markets Authority (AMF): sale on January 28, 2021 of 25,000 shares at a unit price of €5.50 by Mr. Abderrahmane El Aoufir, Deputy Chief Executive Officer, notified to the French Financial Markets Authority on January 29, 2021.

4.8

likely to have an impact in the event

of a public offering

The following factors are likely to have an impact in the event of a public offering: the Company’s shareholding structure (see section 6.1); the existence of double voting rights under certain conditions (see section 6.1.1); the ability to buy and sell the Company’s securities (see section 6.6); the use of current authorizations to issue share equivalents (see section 4.2.5);

clauses in syndicated loan agreements that require immediate repayment in the event of a change in control of the Company (see note 4.11.1.5 to the consolidated financial statements); the provisions of the trademark licensing agreement entered into with TBD Finances, controlled by the Derichebourg family, and Derichebourg for the use of the Derichebourg trademark (see section 4.6.2).

DERICHEBOURG 2020/2021 Universal Registration Document 120