PERNOD RICARD - Notice of meeting 2020

8. REPORT OF THE BOARD OF DIRECTORS ON THE RESOLUTIONS

TWENTIETH RESOLUTION Amendment to articles 25 “Compensation of members of the Board”, 28 “Censors” and 35 “Ordinary General Shareholders' Meetings” of the bylaws to replace the term “directors’ fees” by that of “compensation” in compliance with the PACTE law By voting on the 20 th resolution , it is proposed that you amend the bylaws relating to the compensation of Board members (article 25), Censors (article 28) and Ordinary Shareholders’ Meetings (article 35) to replace the term “directors’ fees” by that of “compensation” in compliance with the law on the business growth and transformation of companies (the PACTE law). TWENTY-FIRST RESOLUTION Powers to carry out the required legal formalities By voting on the 21 st resolution , the Shareholders’ Meeting is asked to authorise the Board of Directors to carry out the required legal formalities, where applicable.

The Board of Directors may not take the decision to use this delegation of authority as from the date on which a third party files a takeover bid for the shares of the Company unless it obtains prior authorisation from the Shareholders’ Meeting; this restriction shall remain in effect until the end of the offer period. NINETEENTH RESOLUTION Amendment to article 21 “Meetings” of the bylaws to introduce the option for the Board of Directors to take decisions by written consultation under the conditions set by the SOILIHI law By voting on the 19 th resolution , we propose that you amend the bylaws relating to meetings (article 21) to introduce the option for the Board of Directors to take decisions by written consultation under the conditions set out in the regulations in order to comply with the law simplifying, clarifying and updating company law (SOILIHI law).

43

Pernod Ricard Notice of Meeting 2020