Hermès // 2021 Universal Registration Document

5

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

The breakdown of net cash restated by maturity and rate type is as follows:

As at 31/12/2021

< 1 year 6,761 1,925 4,771

1 to 5 years

> 5 years

Total

Floating rate

Fixed rate

In millions of euros Financial assets

310

- - -

7,071 1,925 4,771

3,439 1,824 1,240

3,632

Liquidities

- -

102

Marketable securities 1

3,531

Cash investments with maturity over three months from the date of acquisition

65

310

375

375

- - - - -

Financial liabilities 2

1 0 1 0

0 0

- - - - -

1 0 1 0

1 0 1 0

Medium and long-term financial liabilities

Bank overdrafts

- -

Current accounts in debit

RESTATED NET CASH POSITION 3,632 The gains and losses generated through disposal of marketable securities during the financial year and recorded through profit or loss amounted to -€0.4 million. (1) 6,760 310 7,070 3,437

Unrealised gains or losses as at 31 December 2021 stood at -€2.3 million. Excluding commitments to buy out non-controlling interests (see Note 9.4). (2)

As at 31/12/2020

< 1 year 4,748 1,313 3,420

1 to 5 years

> 5 years

Total

Floating rate

Fixed rate

In millions of euros Financial assets

180

-

4,928 1,313 3,420

1,718 1,203

3,211

Liquidities

- - -

110

Marketable securities 1

- -

319

3,101

Restatement of Mark-to-Market on liquidities

1

1

1

-

Cash investments with maturity over three months from the date of acquisition

15 25

180

- - - - -

195

195

-

Financial liabilities 2

0 0

25

17

8 8

Medium and long-term financial liabilities 3

8

8

0

Bank overdrafts 4

16

-

16

16

-

RESTATED NET CASH POSITION 3,203 The gains and losses generated through disposal of marketable securities during the financial year and recorded through profit or loss amounted to -€1.1 million. (1) 4,724 180 4,904 1,701

Unrealised gains or losses as at 31 December 2020 stood at -€0.4 million. Excluding commitments to buy out non-controlling interests (see Note 9.4). (2) Mainly corresponds to a short-term fixed-rate loan contracted by Hermès Japan. (3) Corresponds mainly to bank overdrafts of foreign subsidiaries. (4)

Put options granted to holders of non-controlling interests 9.4

In compliance with IAS 32 Financial instruments: presentation, when holders of non-controlling interests have put options to sell their interests to the Group, a financial liability is recognised corresponding to the exercise price of the option. This debt is posted through equity: as a deduction from the “Non-controlling interests”, equal to the s carrying amount of the securities subject to the put option;

for the balance, as a deduction against the “Equity attributable to s owners of the parent”. This entry is adjusted at the end of each period in accordance with change in the exercise price of the options and the carrying amount of the non-controlling interests. Changes in fair value are recognised directly in equity.

Put options granted to holders of non-controlling interests amounted to €24 million as at 31 December 2021, compared to €18 million as at 31 December 2020.

390 2021 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL