HERMÈS - 2019 Universal Registration Document

OVERVIEW OF THE GROUP RISK FACTORS

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RISK RANKING BY CATEGORY (FROM MOST TO LEAST SIGNIFICANT)

● 1.11.1 Risks related to strategy and operations

1.11.1.1 Image and reputation 1.11.1.2 Commercial appeal

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1.11.1.3 Information systems and cyber-attacks

1.11.1.4 Major external crisis

1.11.1.5 Management of talents and savoir-faire

● 1.11.2 Industrial risks

1.11.2.1 Management of supplies 1.11.2.2 Business disruption

1.11.2.3 Health and safety of people and consumers

1.11.2.4 Safety of property

● 1.11.3 Legal and regulatory risks

1.11.3.1 Compliance with applicable laws and regulations in all areas 1.11.3.2 Intellectual property and combating counterfeiting 1.11.4.1 Risks related to changes in major global issues regarding climate and biodiversity 1.11.4.2 Risks related to availability and judicious use of natural resources

● 1.11.4 Risks related to social, societal and environmental responsibility

1.11.4.3 Respect for human rights and fundamental freedoms

● 1.11.5 Financial risks

1.11.5.1 Risk of fraud

1.11.5.2 Foreign exchange risk 1.11.5.3 Bank counterparty risk

1.11.5.4 Financial risks related to changes in, complexity and interpretation of tax regulations

2019 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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