Hermès // 2021 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

The calculation and reconciliation of basic earnings per share and diluted earnings per share is as follows:

2021

2020

Numerator (in millions of euros) Net income attributable to owners of the parent

2,445

1,385

Denominator (in number of shares) Average number of shares outstanding during the financial year Average number of treasury shares during the financial year

105,569,412

105,569,412 (1,138,640) 104,430,772

(946,082)

Average number of shares before dilution

104,623,330

Basic earnings per share (in euros)

23.37

13.27

Dilutive effect of free share allocation plans Average number of shares after dilution Diluted earnings per share (in euros)

341,071

457,739

104,964,401

104,888,511

23.30

13.21 €729

Average share price

€1,191

PROVISIONS FOR RISKS AND EXPENSES AND OFF-BALANCE SHEET COMMITMENTS

NOTE 12

Accounting principles A provision is a liability of uncertain timing or amount. It is recognised of the amount of the obligation is made based on the information when the Group has a present obligation (legal or constructive) as a available to the Group when the consolidated financial statements are result of a past event, and it is probable that an outflow of resources prepared. will be required to settle the obligation. In addition, a reliable estimate

5

Provisions 12.1

Exchange rate impact

Other and reclassifications 2

Reversals 1

31/12/2020

Allocations

31/12/2021

In millions of euros Current provisions

100

32

(22)

1 1 2

3 7

115

Non-current provisions

22

0

(3)

26

TOTAL

122

33

(25)

10

141

Of which €13 million reversed and used. (1) Corresponds essentially to provisions for restoration costs, established or revised during the financial year in return for the right-of-use asset, which is amortised over (2) the term of the leases (see Note 8.4).

Current provisions concern provisions for risks, disputes and litigation, as well as provisions to cover the share of the negative position of equity-accounted associates (see Note 8).

Non-current provisions mainly include provisions for restoration.

Off-balance sheet commitments, contingent assets and liabilities 12.2 12.2.1 FINANCIAL COMMITMENTS Financial commitments were discounted using a rate of 8.29% in 2021 (8.10% in 2020).

< 1 year

1 to 5 years

> 5 years

31/12/2021

31/12/2020

In millions of euros

Bank guarantees given Bank guarantees received

5

6 2

3 1

13 14 13

13 13 25

12

Commitments to purchase financial assets

2

-

10 19

Other commitments

206

21

246

121

2021 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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