Derichebourg // 2020-2021 Universal Registration Document

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Presentation of the Group and its activities Environmental Services business

Non-ferrous metal prices Ecore’s strategy consists of hedging its purchases by sales, to the extent possible. Every day, Ecore contacts most of its customers to identify their needs and price base. Then, a price list is sent to all sales sites and purchasing representatives in order to update the purchase prices in real time. The national team consolidates the volumes purchased on a daily basis, category by category, to match the volumes sold. Purchases must be covered by a sale, and Ecore can sell several times a day to the same customer if necessary. Each month, Ecore buys and sells around 20,000 metric tons of non-ferrous metals. Ecore may sell for cash (approximately 90% of Ecore’s sales) or through “open contracts” (approximately 10% of Ecore’s sales as of March 31, 2021). These contracts have a maximum duration of two months and, due to good relations between Ecore and its customers, are generally extremely flexible. Ecore may sell at a fixed price (secondary aluminum) or at a percentage of the relevant LME index. In the latter case, Ecore also buys at a percentage of the LME index, several times a day if necessary, in order to allocate the sale to the contract and to protect its margin. Ecore constantly adapts the volumes sold to the volumes purchased, using the batches purchased by its buying representatives as an adjustment variable. At the same time, Ecore adjusts the purchase price to the sale price (fixed or indexed) on a daily basis. Consequently, Ecore is not exposed to market fluctuations. Environmental, health and safety issues 1.2.5.5 Recycling operations can be a source of environmental pollution if they are not carried out in treatment centers with the necessary environmental protection equipment, or if the applicable environmental health and safety rules and regulations are not complied with during these operations. Ecore is committed to upholding high standards in the area of environmental safety. 14 of Ecore’s largest sites are ISO 14001 certified and 17 are ISO 9001 certified. Ecore has made significant investments in its sites over recent years in order to guarantee a high level of environmental protection. Ecore sites are officially registered with the relevant municipal authorities, as required by applicable laws and regulations, and comply with general requirements and/or specific requirements that may be imposed as part of their operating license. Ecore’s sites are also regularly inspected by government officials or their representatives.

Employees 1.2.5.6 At March 31, 2021, Ecore had a total of 1,445 employees (1,353 excluding temporary employees) in France and abroad. The majority of Ecore’s employees are under permanent employment contracts and work full time. Ecore occasionally uses temporary labor. As of March 31, 2021, 6% of Ecore’s workforce was made up of temporary workers. Ecore’s full-time employees are covered by the Ecore mandatory profit-sharing agreement and the Ecore savings plan. All Ecore employees are covered by a national collective labor agreement for the recycling industry and trade and for logistics companies. Ecore has not experienced any major local strikes or work stoppages over the past three years. Health and safety is one of Ecore’s main priorities, and it has implemented a series of measures to improve safety and reduce the number of workplace accidents. Ecore has set up dedicated Health and Safety Committees to monitor progress. In addition, Ecore has a Head of Safety, a Safety Manager and Quality, Safety and Environment Coordinators who are responsible for implementing safety procedures. Ecore employees regularly receive training in safety, such as driving a vehicle, using a fire extinguisher, handling electrical equipment and handling refrigerants. Transaction status at the date of filing 1.2.5.7 of the Universal Registration Document On December 30, 2020, Derichebourg Environnement submitted a firm and irrevocable offer to acquire the shares of Group Ecore Holding, on the basis of which they agreed to exclusive negotiations. On February 26, 2021, the acquisition contract was signed. The only condition precedent was the European Commission’s approval of the transaction. Derichebourg Environnement submitted its notification dossier (form CO) to the European Commission on October 26, 2021 and made a proposal for structural commitments (form RM) on November 25, 2021. On the closing date of the financial statements, it is negotiating these commitments with the Commission. So as not to interfere with ongoing negotiations, additional information will be provided once the situation is finalized. Derichebourg plans to complete the transaction by the end of December 2021.

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