Hermès // 2021 Universal Registration Document

CONTENTS

MESSAGE FROM THE EXECUTIVE MANAGEMENT

5 6

HIGHLIGHTS 2021

1 PRESENTATION OF THE GROUP AND ITS RESULTS

AFR 4 RISK FACTORS AND MANAGEMENT

327 328 347 348

9

Risk factors

4.1 4.2 4.3

Six generations of craftspeople

1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9

10 13 14 17 24 26 35 38 40 41 42

Insurance policy and risk hedging

Group governance

Risk management, internal control and internal audit

Strategy

Simplified organization chart and Group locations

Key financial figures

AFR 5 CONSOLIDATED FINANCIAL STATEMENTS

AFR

359 360 360 361 362 363 364

Revenue and activity by métier

AFR

Consolidated income statement

5.1 5.2 5.3 5.4 5.5 5.6 5.7

Revenue and activity by geographical area

AFR

Consolidated statement of comprehensive income

Comments on the consolidated financial statements Significant events since the end of the financial year

AFR

Consolidated balance sheet

AFR

Consolidated statement of changes in equity Consolidated statement of cash flows Notes to the consolidated financial statements Statutory Auditors’ report on the consolidated financial

Outlook 1.10

AFR

Fondation d’entreprise 1.11

statements

404

NFPS 2 CORPORATE SOCIAL RESPONSIBILITY

45 47 67 89

Business model People: teams

2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9

AFR 6 PARENT COMPANY FINANCIAL STATEMENTS

411 412 413 414 414 415 430 431

People: savoir-faire

Income statement Balance sheet Change in equity

6.1 6.2 6.3 6.4 6.5 6.6 6.7 6.8

The planet: raw materials The planet: environment

109 129 167 181 198

Communities: suppliers & partners

Statement of cash flows

Communities: stakeholders and transparency

Notes to the financial statements Table of results over the last five years

Ethics – Compliance

Report by one of the Statutory Auditors, appointed as an independent third party, on the consolidated non-financial information statement

Information on payment terms

Other information on the parent company financial

212

statements

432 433

Reasonable assurance report by one of the Statutory 2.10 Auditors on a selection of environmental and social information

Statutory Auditors’ report on the financial statements

6.9

217

7 INFORMATION ON THE COMPANY AND ITS SHARE CAPITAL

439 440 450 461 462 466

AFR 3 CORPORATE GOUVERNANCE

Presentation of Hermès International

221 223 223 226 229 241 276 284 290 293 315 324

7.1 7.2 7.3 7.4 7.5

Information on share capital and shareholders

Supervisory Board corporate governance report The Company’s Corporate Governance Code Ambitious and balanced governance Administrative and management bodies Organisation of the Supervisory Board Functioning of the Supervisory Board

AFR

AFR

Dividend policy

3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 3.9

Stock market information Shareholder information

8 COMBINED GENERAL MEETING OF 20 APRIL 2022

Specialised committees

471 472 474

Evaluation of the Supervisory Board and Committees Compensation and benefits of Corporate Officers

Agenda

8.1 8.2 8.3

Explanatory statements and draft resolutions

Other information

Supervisory Board report to the Combined General Meeting

Other information from the Executive management report 3.10

of 20 April 2022

496 498

Statutory Auditors’ reports

8.4

9 ADDITIONAL INFORMATION

505 506 507 507 507 510 527

Persons responsible for the universal registration document Persons responsible for auditing the financial statements

9.1 9.2 9.3 9.4 9.5 9.6

AFR

AFR

Consultation of regulatory information Information included by reference

Cross reference tables

Glossary

The sections of the Annual Financial Report are identified in the contents with the pictogram. AFR NFPS Elements constituting the statement of non-financial performance are clearly identified in the contents with the pictogram.