HERMÈS - 2020 Universal registration document

PARENT COMPANY FINANCIAL STATEMENTS STATUTORY AUDITORS’ REPORT ON THE ANNUAL FINANCIAL STATEMENTS

Valuation of investment securities – Notes 1.4 and 9 of the notes to the annual financial statements

Description of risk As at 31 December 2020, investment securities recorded in the balance sheet amount to €1,402.2 million gross and €656.3 million net. They are stated at acquisition cost excluding incidental expenses at the acquisition date. As described in Note 1.4 “Financial assets” to the annual financial statements, the carrying amount is estimated in the first place based on the value of the share of net assets, which may be adjusted, where appropriate, for the profitability outlook of the relevant subsidiary. Due to their significance in the audit financial statements, to the requirement of Management’s judgement in estimates, and regarding the sensitivity of hypotheses used, particularly in the context of the health crisis, we considered the valuation of investment securities to be a key audit matter. How our audit addressed this risk Based on the information we were provided, our work largely consisted in: assessing the processes implemented by the Company to determine the valuation of investment securities; s checking that the criteria used by the Management to determine the valuations were appropriate, that they take into account the impact of the s health crisis and that any impairment arising was calculated correctly; checking that recorded equity matched with the consolidation documents of the entities concerned, especially for valuations based on historical s information. In addition to assessing valuation of investment securities, we also verified, when appropriate, that a contingency provision was recognised if the company was committed to supporting the losses of a subsidiary with negative equity. Information given in the management report and in the other documents with respect to the financial position and the annual financial statements provided to shareholders We have no matters to report as to the fair presentation and the consistency with the annual financial statements of the information given in the management report of Executive Management and in the other documents with respect to the financial position and the annual financial statements provided to shareholders. We attest to the fair presentation and the consistency with the annual financial statements of the information relating to payment deadlines mentioned in Article D. 441-4 of the French Commercial Code ( Code de commerce ). We attest that the Executive Management report on corporate governance sets out the information required by Articles L. 225-37-4, L. 22-10-10 and L. 22-10-9 of the French Commercial Code ( Code de commerce ). Concerning the information provided in accordance with the requirements of Article L. 22-10-9 of the French Commercial Code ( Code de commerce ) relating to remuneration and benefits received by or allocated to the Corporate Officers and any other commitments made in their favour, we have verified its consistency with the financial statements, or with the underlying information used to prepare these financial statements and, where applicable, with the information obtained by your company from controlled companies in the scope of consolidation. Based on these procedures, we attest the accuracy and fair presentation of this information. With respect to the information relating to items that your company considered likely to have an impact in the event of a public tender or exchange offering, provided pursuant to Article L. 22-10-11 of the French Commercial Code ( Code de commerce ), we have agreed this information to the source documents communicated to us. Based on our work, we have no observations to make on this information. Information relating to corporate governance SPECIFIC VERIFICATIONS 4 We also performed, in accordance with professional standards applicable in France, the specific verifications required by law and regulations.

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Other information

In accordance with French law, we have verified that the required information concerning the identity of the shareholders or holders of the voting rightshas been properly disclosed in the management report.

2020 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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