DERICHEBOURG - Universal registration document 2019-2020

2

Board of Directors’ report on corporate governance The Board of Directors

Members of the Board of Directors 2.1.5 Mr. Bernard Val, independent director

Initial date of appointment:SM 06/24/2004 Date of last reappointment:SM 02/10/2016

Termof office expires: SM 2022 Numberof shares held: 1

Mr. BernardVal, aged 78, of French nationality, is a former student of École des ingénieurs de la Préfecture de la Seine, and was a general engineer for the city of Paris. He was seconded to several regional authorities including the Direction Générale des Services du Département de la Corrèze (1985-1996), before being appointed Chairman & CEO of Société des Autoroutes Rhône-Alpes, and subsequentlyAutoroutes du Sud de la France. In 2006, following the sale of ASF to Vinci, he became Chairman of Vinci Concessions and Vice-Chairman of Vinci. Moreover, he was Chairman of ASFA (the

association of French highway companies), and director of the public institution Autoroutes de France, as well as Scetauroute

Développement,TransrouteInternationaland Ginger.

Mr. Bernard Val is also Chairman of the Audit Committee and a memberof the Appointmentsand CompensationCommittee. Mr. Bernard Val holds no other position within the Company or any other Group company.

Offices and/orpositionsheld in anothercompany (outside the Group)during thecourse of the fiscal year endedSeptember 30,2020

Director

SOCIÉTÉ DES AUTOROUTES ESTÉREL, CÔTE D’AZUR, PROVENCE, ALPES (ESCOTA)

AUTOROUTES DU SUD DE LA FRANCE (ASF)

Other offices held during thelast five years

None.

Mr. Matthieu Pigasse,independent director Initial date of appointment:Boardmtg 10/25/2005 Date of last reappointment:SM 02/10/2016

Termof office expires: SM 2022 Numberof shares held: 1

Mr. Matthieu Pigasse, aged 52, of French nationality, is a former student of the École nationale d’administration(ENA) and a graduate of Institut d’étudespolitiquesde Paris. Matthieu Pigasse is a Partner at Centerview Partners, in charge of France and continentalEurope. Mr. Matthieu Pigasse is co-shareholderof the Le Monde Group, the Nouvel Observateurand HuffingtonPost France. He is the owner and Chairmanof ÉditionsIndépendantes,a firm that publishesthe magazine Les Inrockuptibles.He is Vice-Chairman ofThéâtredu Châtelet. He has published three books: Le Monde d’après, une crise sans précédent (2010, Plon), Révolutions (Plon, 2012), and Éloge de l’anormalité (Plon, 2014).

Prior to that, from 2000 to 2002, he was Deputy Chief of Staff for the French Minister of the Economy, Finance and Industry, Laurent Fabius, in chargeof industrialand financialaffairs. From 1997 to 2000, he was Technical Adviser to the Minister of the Economy, Finance and Industry, DominiqueStrauss-Kahn,in charge of the financial sector. From 1994 to 1997, Mr. Matthieu Pigasse worked in the Treasury Department of the Ministry of the Economy, Finance and Industry, wherehe was in chargeof sovereigndebt and liquiditymanagement. Mr. MatthieuPigasse holds no other position within the Company or any other Group company.

Offices and/orpositionsheld in anothercompany (outside the Group)during thecourse of the fiscal year endedSeptember 30,2020

Chairman and CEO Deputy Chairman Chairman and CEO Vice-Chairman Chairman of the Board of Directors

LAZARD FRANCE LAZARD GROUP LAZARD AFRIQUE

LES ÉDITIONS INDÉPENDANTES

Chairman

LES NOUVELLES ÉDITIONS NUMÉRIQUES LES NOUVELLES ÉDITIONS INDÉPENDANTES

YSATIS

Director

GROUPE LUCIEN BARRIÈRE

THÉÂTRE DU CHÂTELET

Member of the Supervisory Board

SOCIÉTÉ ÉDITRICE DU MONDE MEDIAWAN

LE NOUVEL OBSERVATEUR

DERICHEBOURG p 2019/2020 Universal Registration Document 67