FFP_REGISTRATION_DOCUMENT_2017

GROUP PRESENTATION Portfolio presentation

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www.chateauguiraud.com

BUSINESS

FFP’S INVESTMENT

Château Guiraud is a maker of Sauternes wine that is designated as “premier cru” according to the 1855 classification. The 128-hectare estate contains 103 hectares of vineyards. Production levels vary depending on the vintage, but average 150,000 bottles of Sauternes per year including 100,000 bottles of premier cru wine, plus 200,000 of dry white wine. FFP and its partners seek to achieve the very best quality and are developing Château Guiraud’s commercial presence, particularly outside France, to support its wines’ reputation for excellence among leading international connoisseurs. This policy is already producing excellent media coverage and some of the best tasting ratings. In 2012, for example, Château Guiraud’s 2009 vintage was ranked fifth in US magazine Wine Spectator’s 100 best wines of the year. In 2014, its 2011 vintage ranked 12th in the same magazine’s top 100 wines. Château Guiraud has joined forces with Nicolas Lascombes to develop a restaurant within the château’s chapel, which opened in early 2018. Revenue fromwine sales rose sharply in 2017 to €4.4 million as opposed to €3.9 million in 2016.

FFP invested in Château Guiraud alongside partners specialising in the wine sector. Together, they set up Financière Guiraud SAS, which in July 2006 acquired 100% of the shares in SCA Château Guiraud. The FFP group (via wholly owned subsidiary FFP INVEST ) owns 74.5% of Financière Guiraud SAS (1) . The value of Financière Guiraud SAS for the purposes of Net Asset Value is estimated using FFP’s policies for valuing unlisted assets. Financière Guiraud SAS is fully consolidated in FFP’s financial statements. FFP INVEST , represented by Robert Peugeot, is a member of Financière Guiraud’s Supervisory Board.

(1) The main features of shareholder agreements formed by FFP and/or FFP INVEST are set out in section 3.1.

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www.lda.fr

BUSINESS

FFP’S INVESTMENT

FFP formed a partnership with the family-owned Louis Dreyfus Armateurs (LDA) group to found LDAP. LDA is a French maritime group that has been operating for more than 160 years in carrying dry bulk by sea and in providing maritime industrial services. LDAP, a company in which the FFP group holds a 45% stake (via its wholly owned FFP INVEST subsidiary), has purchased 5 new Handysize freighters. They are of B-Delta 40 design, an innovative, fuel-efficient model. Most of the vessels were delivered in the second half of 2015. This fleet is managed by LDA, which is in charge of its fit-out and commercial operation.

At 31 December 2017, the FFP group (via its wholly owned FFP INVEST subsidiary) held a 45% equity interest. FFP has invested a total of $24 million. FFP INVEST is party to a shareholder agreement (1) . The value of LDAP for the purpose of Net Asset Value was estimated using FFP’s policies for valuing unlisted assets. LDAP is accounted for under the equity method in the consolidated financial statements. FFP INVEST , represented by Bertrand Finet and Sophie Vernier-Reiffers, is a member of LDAP’s Executive Committee.

(1) The main features of shareholder agreements formed by FFP and/or FFP INVEST are set out in section 3.1.

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FFP

2017 REGISTRATION DOCUMENT