PERNOD-RICARD - URD 2020-21

____ 2. CORPORATE GOVERNANCE COMPENSATION POLICY

The Board’s aim is therefore to continue to align the interests of Pernod Ricard employees with those of the shareholders, by encouraging them to hold shares of the Company. Just over 750 employees were rewarded, making it possible to target not only executives in management positions, but also to retain young high-potential Managers (Talents) in all of the Group’s affiliates around the world. For the future, the Shareholders' Meeting of 10 November 2021 will be asked to authorise the Board of Directors to allocate free performance shares to employees and Executive Directors of the Company and Group companies (resolution no. 22), subject to the performance conditions detailed below. The Board of Directors wished to align itself with the market practices of CAC 40 companies by eliminating stock options and to introduce a corporate social responsibility criterion in line with its roadmap in this area. ALLOCATION OF PERFORMANCE-BASED SHARES The performance shares granted will have a vesting period of three years and will be subject to the following performance conditions: 50% of the allocation of performance-based shares, by value, will be subject to an internal performance condition linked to a criterion relating to profit from recurring operations; 30% of the performance-based share allocation, by value, will be subject to a relative external performance condition (TSR versus a peer panel); 20% of the performance-based share allocation, by value, will be subject to an internal performance condition relating to CSR criteria.

PERFORMANCE LEVELS The performance achievement level shall be communicated, criterion by criterion, once the performance assessment has been prepared. TERMINATION OF OFFICE If the Executive Director leaves during the financial year, the amount of the variable portion of their compensation for the current year will be determined pro rata to attendance time for the year in question, depending on the performance level observed and assessed by the Board of Directors for each of the criteria initially adopted. However, it should be noted that no compensation shall be paid if the Executive Director is dismissed for gross negligence or with good cause or on decision of the In accordance with the law, the payment of variable annual compensation will be conditional upon prior approval by the Ordinary Shareholders’ Meeting. Stock option and performance-based share allocation policy The Board of Directors considers that share-based compensation mechanisms, which also benefit other key functions of the Company, are particularly appropriate for the Executive Director, given the level of responsibility of this function and his or her ability to contribute directly to long-term corporate performance in a way that is aligned with shareholders’ interests. In addition, the Board of Directors ensures that the performance conditions are consistent with those applied to the Group’s Senior Managers, particularly the members of the Executive Committee. During FY21, the Board of Directors reaffirmed its desire to give key personnel an interest in the performance of Pernod Ricard shares, and during its meeting of 27 November 2020, it decided to introduce a combined allocation plan made up of stock options and performance shares. Board of Directors. PAYMENT METHOD

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PERNOD RICARD UNIVERSAL REGISTRATION DOCUMENT 2020-2021