HERMES_REGISTRATION_DOCUMENT_2017

3

CORPORATE GOVERNANCE

SUPERVISORY BOARD’S REPORT ON CORPORATE GOVERNANCE

Resolution number

Duration of the authorisation (expires) 26 months (2 August 2017) 1

Characteristics

Use in 2017

Issues of shares and/or any securities giving access to capital with maintenance of preferential subscription rights

17 th

The nominal amount of capital increases that may be carried out immediately and/or in future under this delegation may not exceed 40% of the share capital on the date of the General Meeting with any capital increases carried out in accordance with this delegation offset against the 40% ceiling common to the delegations granted in the 17 th , 18 th , 19 th , 20 th and 21 st resolutions. Discount fixed at 20% of the average of the prices quoted for the Company’s share during the twenty trading days preceding the day of the decision setting the date of opening of subscriptions. The nominal amount of capital increases that may be carried out immediately and/or in future under this delegation may not exceed 40% of the share capital on the date of the General Meeting with any capital increases carried out in accordance with this delegation offset against the 40% ceiling common to the delegations granted in the 17 th , 18 th , 19 th , 20 th and 21 st resolutions. Discount fixed at 20% of the average of the prices quoted for the Company’s share during the twenty trading days preceding the day of the decision setting the date of opening of subscriptions.

The nominal amount of debt securities that may be issued immediately and/or in future under this delegation may not be greater than one billion euros, this limit being common to the 17 th , 18 th , 20 th and 21 st resolutions.

None

26 months (2 August 2017) 1

The nominal amount of debt securities that may be issued immediately and/or in future under this delegation may not be greater than one billion euros, this limit being common to the 17 th , 18 th , 20 th and 21 st resolutions.

None

Issue of shares and/or any other securities giving access to capital, with elimination of preferential subscription rights, but with the right to introduce a priority period through a public offer

18 th

26 months (2 August 2017) 1

The nominal amount of capital increases that may be carried out immediately and/or in future under the 19th resolution (capital increase reserved for members of a Company or Group savings plan) may not exceed 1% of the share capital, this limit being offset against the 40% ceiling common to the delegations granted under the 17 th , 18 th , 19 th , 20 th and 21 st resolutions. Discount fixed at 20% of the average of the prices quoted for the Company’s share during the twenty trading days preceding the day of the decision setting the date of opening of subscriptions.

None

Capital increase without preferential subscription rights in favour of members of a savings plan

19 th

(1) This authorisation was cancelled, for the remaining duration and for the unused fraction, by new delegations of the same nature authorised by the General Meeting of 6 June 2017.

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2017 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL