Hermès // 2022 UNIVERSAL REGISTRATION DOCUMENT

RISK FACTORS AND MANAGEMENT RISK FACTORS

RISK RANKING BY CATEGORY (FROM MOST TO LEAST SIGNIFICANT)

4.1.1.1 Image and reputation

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4.1.1 Risks related to strategy and operations

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4.1.1.2 Commercial appeal

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4.1.1.3 Information systems and cyberattacks

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4.1.1.4 Major external crisis

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4.1.1.5 Management of talent and savoir‑faire

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4.1.2.1 Supply management

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4.1.2 Industrial risks

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4.1.2.2 Business interruption

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4.1.2.3 Health and security

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4.1.2.4 Safety

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4.1.3.1 Compliance with applicable laws and regulations in all areas

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4.1.3 Legal and regulatory risks

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4.1.3.2 Intellectual property and the fight against counterfeiting

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4.1.4.1 Changes in major global climate and biodiversity issues

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● 4.1.4 Risks related to social, societal and environmental responsibility

4.1.4.2 Availability and proper use of natural resources

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4.1.4.3 Respect for human rights, fundamental freedoms and ethics

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4.1.5.1 Fraud

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4.1.5 Financial risks

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4.1.5.2 Exchange rates

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4.1.5.3 Bank counterparties

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4.1.5.4 Changes in, complexity and interpretation of tax regulations

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2022 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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