Hermès // 2022 UNIVERSAL REGISTRATION DOCUMENT

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PARENT COMPANY FINANCIAL STATEMENTS ACCOUNTING PRINCIPLES

8.3 Breakdown of foreign exchange contracts Hedging operations are performed over‑the‑counter, exclusively with leading banks. The Company therefore does not incur any significant counterparty risk.

Nominal amounts of derivatives used to hedge foreign exchange risk

Market value of contracts as at 31/12/2022 1

Nominal amounts of derivatives

In millions of euros

Options purchased Chinese yuan puts

105

105

7

Chinese yuan collars

316

316

18

US dollar puts

94

94

4

US dollar collars

283

283

9

Singapore dollar puts

81

81

2

Singapore dollar collars

244

244

2

Japanese yen puts

51

51

3

Japanese yen collars

203

203

7

Hong Kong dollar puts

59

59

2

Hong Kong dollar collars

176

176

5

1,612

1,612

58

2

Forward foreign exchange contracts Chinese yuan

(397)

(397)

(8)

US dollar

(349)

(349)

2

Singapore dollar

(313)

(313)

9

Japanese yen

(242)

(242)

(5)

Hong Kong dollar

(227)

(227)

2

Other

52

52

(3)

(1,477)

(1,477)

(2)

2

Currency swaps US dollar

(94)

(94)

(0)

Pound sterling

(30)

(30)

(0)

Swiss franc

23

23

(0)

Chinese yuan

22

22

(0)

Hong Kong dollar

(0)

(0)

(0)

Singapore dollar

-

-

(0)

Japanese yen

(0)

(0)

-

Other

7

7

-

(72)

(72)

(0)

TOTAL

63

63

55

(1) Gain/(Loss). (2) (Purchase)/Sale.

2022 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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