HERMÈS - 2019 Universal Registration Document

7

INFORMATION ON THE COMPANY AND ITS SHARE CAPITAL INFORMATION ON SHARE CAPITAL AND SHAREHOLDERS

pursuant to the law, the total number of shares held at a given date s may not exceed 10% of the share capital as of that date; the shares may be purchased by any means, including all or part of s interventions on regulated markets, multilateral trading systems, with systematic internalisers or OTC, including block purchases of securities (without limiting the portion of the buyback programme carried out by this means), by public offering to purchase or exchange or the use of options or derivatives (in compliance with legal and regulatory requirements applicable at the time), excluding the sale of put options, and at the time that the Executive Management deems appropriate, including during a public offering for the shares of the Company, in accordance with stock market regulations, either directly or indirectly via an investment services provider. The shares acquired pursuant to this authorisation may be retained, sold, or transferred by any means, including by block sales, and at any time, including during times of public offerings. Duration of the authorisation This authorisation would be valid for eighteen months from the date of the Combined General Meeting of 24 April 2020, i.e. until 24 October 2021.

Objectives of the new share buyback programme (unchanged) The shares may be repurchased in order to be allocated to the objectives permitted by regulation (EU) 596/2014 of 16 April 2014 on market abuse (Market Abuse Regulation “MAR”): objectives provided for in Article 5 of the MAR: capital decrease, s hedging of debt securities exchangeable for shares and coverage of employee shareholding plans; objectives provided for in Article 13 of MAR and under the market s practice accepted by the AMF: the implementation of a liquidity contract by an investment service provider acting independently and in accordance with the provisions of AMF Decision No. 2018-01 of 2 July 2018; other objectives: acquisitions, hedging of equity securities s exchangeable for shares and, more generally, to allocate them for the completion of any transactions in accordance with the regulations in force. Ceilings and conditions of the authorisation Purchases and sales of shares representing up to 10% of the share s capital would be authorised, i.e. for indicative purposes as of 31 December 2019: 10,556,941; the maximum purchase price (excluding costs) would be set at €850 s per share; the maximum amount of funds to be committed would be set at s €2,000 million. It is specified that treasury shares held on the day of the General Meeting are not taken into account in this maximum amount;

2019 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

394