Hermès // 2021 Universal Registration Document

CORPORATE GOUVERNANCE SUPERVISORY BOARD CORPORATE GOVERNANCE REPORT

SUPERVISORY BOARD CORPORATE GOVERNANCE REPORT AFR

This chapter 3 “Corporate governance” incorporates § 3.1 to 3.9, the Supervisory Board corporate governance report prepared pursuant to Article L. 22-10-78 of the French Commercial Code (Code de commerce) and in a ccordance with t he recommendations of the French Financial Markets Authority (AMF).

A cross-reference table for the corporate governance report is presented in chapter 9 “Additional information”, § 9.5.3.

It was jointly prepared by the Chairman of the Supervisory Board, the CAG-CSR Committee, the Board secretary and with assistance from the functional departments concerned. It was approved by the Supervisory Board at its meeting of 17 February 2022.

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THE COMPANY’S CORPORATE GOVERNANCE CODE

3.1

CORPORATE GOVERNANCE PRINCIPLES APPLIED

3.1.1 The Supervisory Board officially adopted the Afep-Medef recommendations on corporate governance in 2009, as it deemed these recommendations to be entirely in keeping with the Group’s corporate governance policy. This framework includes the Afep-Medef Corporate Governance Code for listed companies, updated in January 2020, available on the Afep website ( www.afep.com ) or the Medef website ( www.medef.com ), and the application guide of the High Committee on Corporate Governance (HCGE), revised in March 2020, which explains the recommendations of this code.

The recommendations issued by the Financial Markets Authority (AMF) are also taken into account in its annual report on corporate governance and senior executive compensation of listed companies. With each revision of the Afep-Medef Code, the CAG-CSR Committee performs an exhaustive comparative analysis of the Company’s application of the Afep-Medef Code’s recommendations, and reports to the Supervisory Board. These periodic reviews, as well as monitoring of market practices and analyses, make it possible to adapt the systems in force each year with the aim of constant improvement.

PROVISIONS OF THE AFEP-MEDEF CORPORATE GOVERNANCE CODE NOT APPLIED AND THOSE NEWLY COMPLIED WITH The table below lists the provisions of the Afep-Medef Code not applied those not applied for other reasons, with the corresponding explanations. by the Company at the date of publication of this universal registration We have also listed the changes made since the most recent update of document. In line with the recommendations of the AMF, the provisions the Afep-Medef Code in January 2020 to ensure compliance therewith. not applied on account of the Company’s legal form are singled out from 3.1.2

2021 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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