EXEL Industries // 2020 Universal registration document

Management report

Statement of fees for Statutory Auditors and auditing services

Exceptional items and litigation

3.7

To the best of the Company’s knowledge, no exceptional items or litigation exist for which provisions have not been recorded that could have a material adverse e ff ect on its business, fi nancial position or assets and liabilities.

There are no other legal, judicial or arbitration proceedings (including any that are pending or threatened of which the Company is aware), which may have or have had during the last 12 months, a material e ff ect on the fi nancial position or pro fi tability of the Company and/ or Group.

Current agreements entered into on an arm’s length basis and Ƥ related-party agreements

3.8

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Most of the agreements entered into by EXEL Industries are current intra-group agreements and are entered into on an arm’s length basis with its subsidiaries. For agreements that could be classi fi ed as related-party agreements, Article L22-10-12 of the French Commercial Code, formerly Article L225-39, provides that agreements entered into between two companies of which one holds, directly or indirectly, all of the share capital of the other party, are not subject to the control procedure for related-party agreements, even if they are not current by nature ( e.g. write-o ff s of receivables, disposals of buildings, or leases).

In view of the fact that all the companies of the EXEL Industries group (with the exception of one company) are wholly owned by the holding company, EXEL Industries SA, the provisions of Article L22- 10-12 of the French Commercial Code, formerly Article L225-39, are applicable. Under good governance, these agreements are presented to the Board of Directors, as provided for in the Agreements Quali fi cation Charter adopted by the Board of Directors on December 16, 2020 (section 7.1.9 of this Universal Registration Document).

Change in accounting method

3.9

Changes in accounting policies are reported at the Group level in Chapter 5, note 1.

3.10 Statement of fees for Statutory Auditors and auditing services

The information concerning the fees of Statutory Auditors and other services are given in section 5.5, note 29 of the Universal Registration Document.

EXEL Industries group I 2020 Universal Registration Document

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